lylWPfipit.iT,
fST 'wwrjsa"V "
?rf$minstmpm?'
"','yff"
' T Vst'CtftRJIgpkl-'
iftX
r
i'v' v Jir'W"4
EVENING PUBLIC LEDGER-PHILADELPHIA, SATURDAY, APRIL 1G, 1921
15
CLOSING MARKET
MORETWO-SIDED
Week's Tall-End Developments
Changed Entire Complexion '
of the Outlook
K,w Vnrli. April 1CI.-Wh.li' the
trains nns n little more two-nldr-d. to
Hav' rloltiK ninrkrt iiinlntniiir-d n tone
pf'dpriildl otrcnstli. rnn-lilornble profit
tAklnc wii rncniintowrin nil tmrN of
LnloMf extent In clieclt. irtlin Li
fts rntlrr IIM -onrerf nildltlnnnl sub-
tantln Bnlns .luring thn firrt half Iioup.
The oil. -tonl nnil motor -.Ihii-pm were
Umlnnnl friltlirei, rpflortltlR flirllirr
cor rinK nf ti' !i Hhnrf. Hull- mode onl,
nSmlnnl Rnlii-. Tin- cenornl market
flnr- fiiviirnlile development" Htipplo
minffl In Hip fnrtlipr iniprovrmcnt in
the HrltNIi lnlmrfltuntlon.
Ofilnx mnde I" the Inltlnl trndlriR
hrousht In u mortrrntp supply of stock,
but on the reresiinn frr'li buying ivn
it ithlrh rnl-p.l the price pvpI nbnvo
the opening. Mrxicnn Petroleum. Orn
iral A-pluilt. People's firm nnd Now
York Air Urake ligurpd conspicuously
L tho pprnnilnrj rally, but the upwnrd
nine irtnull.v extended to nil part
of the list, with the railroads ciijo.i
inr n more nctlvo partii'lpntion. . lie
newed realizing was ngaln, encountered
at thP higher prices, bringing n piirtln
cancellation, but the tradlnc became dull
anrl narrow on the recessions.
The week's tnll-enil developments su
oerfiPinllv would h'ciii to pliico a to
tallv different iispoet on the ninrkpt sit
uation Constructive developments,
honeier. have Iippii enming thick and
faM but lie response nf the mnrkpt ex
cept' for the demonstration witiiuoppil
on Kndin lid" been ipiite dWfiiiiiliUiiK.
There inn be tin denying the fact but
that the nut'ook Is eertninly brighter
and -ou'iiil of the more vexing problems
are iiniiie-tionabl.v approaching solu
tion. The threatened Kiigllsh industrial
crtis bus ivblently been nverted. Some
of tlip irritating eotnpllentioiiH of the
rtllroad -ituntlnu at home have been
Irnii'-d out. wbile the lirst genuine signs
of the ea-ing up of the money situa
tion a" given In tlie reduction of the
discount rate by the ItoM(il) Federal He
ttro Hank
Hecailo of the low ebb of speculative
iniiri"-! with a conespondlng diminutive
buying power the market has developed
into n ten "hallow affair. Iirtriith, it
id conspicuously tlilu, as suggested in
the rather wide arintioiis In prices on
tV slightest pretext. 1'nless sitifnee
signs aie misleading, however, the line
of the least resistnncp Is spcininglj en
countered on the up tacks. That Is to
fdj in tlie parlance of the street. Ihe
tnniket more teadllj rcsionds to good
ne than it is depressed on reversed
influent e.
('oii-irlernble emphasis lias heen made
upon loutiniioiis uniiiteriiipted growth
eftho slinit interest. Measured finm the
calculation of a numlirr of wcll-ie-pflnli'd
experts the lienr following would
apparently approach unwieldy propor
tion" Such deductions, bow ever, uie
not borne out b.i the market's behavior.
It is general knowledge that n largest
perrentnge of the piofesslonal opera
tions lepre'ietitH short selling. There Is
ransldernble iiictiou of doubt, how
erer wlieiher all the recent reported benr
selling was rcnllj an extension of the
fhort iutciest. It is- a well-known fact
in order to cover up liquidation the
more learned of the market following
frcnnontlj make deliveries on borrowed
Hock wliii b oftentiines gives nn arti
f;rl;il and misleading iituiiisplicrf to the
loan crown, .evoi-tliolcsi, liecausc of
the nunowness of tin' current trading
area the market easily becomes out
sold, more particularly among sonic o(
the recognized closer held ,ool shnres.
Thi- open and llngrnnt iniinipulation of
a number of tbce selecteil issues is fre
iueni an insult to the Intelligence of
the mnikel following as a whole, e.spe
oialh when the more representative
shares iviierieuce iliflii-ul t. in keeping
from slipping off their feet.
Summed in .1 nutshell, the market
nutlonk is brighter tliiin it bus heen at
flm time since the opening of the cur
reni car, but it still has n rough and
hard road to travel.
STORAGE BATTERY
LOCAL FEATURE
NEW YORK STOCK EXCHANGE TRANSACTIONS
riv,
In S
Interest Still Centers in the
ylvania Railroad Divi-
(lend Action
Pennsyi
. Trading in the local stocks was quite
omk for the abbreviated session with
Electric Storage Battery the outstand
ing feature of strength. There wns n
Mlr! cnod demand for that stock
carrjinc it a point above cstonln
Ana' sale to inn. a new high price fop
n." current year The movement of the
o' few da.vs mil be regarded ns a be
lated response to the fuwirnhlc annual
T"pnn nnd nt this level the stock ,m
present r per cent ilividend mss
""irns sll,;itl better thnn 11 per
nealings in I'ennsjlvnnia Railroad
wre ngam of ,1 Mibstnntlal volume, nnd
'bile there v as some easing ff f,-,,,,,
time to time the price held c!oc to the
men of week or over Jt points above
me low uoteb
An advance of n point In I,eliiB, Vnl
', " V'0 l"'r was the most Inter
PnZ,f,;,.".mo ,.!!' the dealings ",!,
"v ' iiim lie e 1 111 n i)iin 1.' ....
issues worn l,,.,ll...l .' , ,'
n,i .i..i. 1 1 .. """ "' iieiivine.s.s
niiinii-u irneiionuM
100
100
100
100
.10,1
200
400
too
,1201)
100
100
BOO
300
100
2100
100
4100
200
120D
1500
100
1000
.1)0
100
300
100
1100
2000
8)0
400
too
2310
200
too
000
400
too
.1001
200
200
201)0
200
20u
100
1000
1000
.1)0
1110
100
1000
1100
300
300
20)1)
.100
.100
1000
1300
1300
(!(IO
300
MOO
200
200
tlOO
32)0
3)1
1 .TOO
100
100
0)1
30)
.100 :
1300
100
800
4)00 :
30)0
400
1000
700
200
000
100
300
300
.in 00
AflO
100
1701
R00
3.10
4400
niii
30 III
100
l(bi
HOI)
0)0
1400
K0,l
70ll
2 III
100
.too
ton
lodo
JSOO
300
100
ton
J00 ..
200 ft
J)0U 7
100
500 6
H00
JOD
2201
aw
101)
HIlO
100 4
B'A
40 &
3H
I0K
lllch
Advance numely .... K
AJax Tlubber 3.1&
.. Alaska Gold Mines... 1
.. Alaska Juneau O M.. Wt
Allls-Chalmers 37
a Am Airrlo Chem 9'A
4 Am Hank Note Ill
Am Beet Sugar 3
.. Am can 29 W
12 Am Car & Fdy 121 W
0 Am Cotton OH pf 034
Am Internat Corp... 43H
0 Am locomotive 88
7 Am Locomotive pf . . . . 10'
.. Am Safety nazor.... lift
Jm snip & Com....
4 Am Smelt & nef...
7 rtin Smelt & nef pf
8 Am Steel Foundries
2 Am StiKar rtef
7 Am Sugar rtef pt..,.103H
10 Am Sumatra Tob.... 74 $
Am Tel & Tel 108W
12 Am Tobacco llH
12 Am Tobacco n 114
0 Am Tobacco pf new.. OOJi
7 Am Woolen 53U
. . Anaconda Copper ,... S31
0 Atch Top & Santa Fe SOi
Atlanta Btr & Atlantic 4
Atlantic Coast ilne.. ID
Atl Oulf 4 W I S S.. 3)
Atl Gulf SWISSpf 311,
Austin Nicholas Inc pf (16J4
Auto Sales Corp 3'4
Baldwin locomotive.. 1
Baldwin Loco pf 100
Baltimore & Ohio 35
Baltimore & Ohio pf . ,. 4854
Bethlehem Steel A3?4
Bethlehem Steel B... Afl
Bethlehem Steel 8 pftOS
Brklyn ttnnM Transit 13
.. Butterlck 17V4
.. California Petroleum . 48H
.. Caddo Central O & It. 17 H
2 Cal 55lno & Lead 5J4
0 California Packing ... 67 J
2 Calumet & Arlzono.. 4
10 Canadian Pacific ....113H
.. Centrnl Leather 38 H
7 centra leather pf... 73
2 Cerrodo Pasco
10 Chandler Motors ....
4 Chesapeake & Ohio...
. . Chi & K III 11 T ctfs
.. Chi & 15 III pr ctfs...
.. Chicago Mil fit St P.. .
.. Chicago Mil & St, P pf 38ft
0 Chicago Northwestern 4'4
ft Chi Pneumatic Tool. 6.V4
.. Chi It I ft Pac 2B?
Chi R I ft Pac 8 pf 1
Chi U I ft Pac 7 pt 71
28
80
OO'A
1
I
38
.. Chile Copper
.. Chlno Copper
.. Coca-Cola
0 Columb Gas ft Klec...
.. Col Grnphophono ....
7 Col Graphophono pf . .
7 Continental Can pf...
.. Continental Candy ...
ft Continental Insurance
.so Consolidated DIs Inc..
7 Consolidated Gas ....
.. Consolidated Textiles.
4 Corn Products Rcf .
. fto Cosden & Co
8 Crucible Steel
7 Crucible Steel pf
4 Cuban Amer Sugar...
.. Cuban Cane Mukhi.,.
7 Cuban Cane Sugar pf.
0 Delaware ft Hudson..
.. I)ener ft Hlo Grande.
.. Denver ft Bio Gr pf. .
2 Detroit United Itwy. .
1 I.jme Mines
ft Knillcott-Johnson
7 Kndlcott-Johnson pf . .
., Krlo
.. Krle 1st pf
. . Hrlo 2d pf
8 Famous Players L. . . .
8 Famous Players L pf.
. . General Asphalt
ft General Asphalt
Gener.il Cigar .
8 Genernl Electric
1 Grncrnl Motors
n Gen Motors deb
0 Goodrich B F. .
7 Gii-.it N'oithcrn
4 Great North Ore ctfs
4 Haskell ft Barker Car
. . Ht'IHk'O ctfs
1 Hupp Motor Car. .. .
Pf.
8'
pf..
1 Houston Oil
00 Indian Refining
. , Inspiration Con Cop .
. . Interb Con Corp
. . Inter Con Corp pf . . . .
. . internal Agrlcul
ft Int Agrlcul Corp pf . .
7 lilt Hnnester new...
.. Int Mer M.ulne
6 Int Mer Murine pf. . .
.. International Nickel..
.. International I'uper ..
.. InvlnclblH Oil Corp. ..
.. Island Oil
. . Jewel Tea
. . Kansas City Southern
Kan City Ft S ft M pf 40ft
SHI oiio nhxres. comp.ireil ulth
11M
23
27 A
00
7
41
00
m
01
7
184
It't
30 H
81!
88
33 V,
20 Hi
81
05
70
10K
03',
01
I.K4
105,
1314
741j
B7I4
3J4
.100
. 5'4
.1374
. 13'.
. 8Ki
. 38
. 71 Va
. liH
&8j
. 23
, 14 Ji
. 82H
. H'4
. 33
. 4H
. "
0
. 48
. 7 ?4
I3
81 Vj
. !
1.1
, 3(114
4tt
. 10
25 H
7U
83 Vl
1
114
37
l
0 Vl
.IS
2!i
13IK
0.14
42'4
8M
t0fll4
8H
8'.
40
78
SO
13H
134
108
M8H
114
0
73 J4
38H
70
4
70
38tf
31 V,
88
m
34H
48&
83
H H
105
im
. 14
17
8
57 Vl
18
110(4
84
73
37'4
704
80l
1
1
38 M
37
44
83
28 H
61
71&
II
33
20!
M
8
41
90
1
0154
7
N5M
18?4
72 '4
!H
80
84W
23 '4
20
01 V
314
l'4
80
lM
i H
04
13
10
13
72'2
87 '4
61 H
99
8814
137
13
(16
37
70 '4
3
58
22
14
81
10
33 M
13H
'
47
87
I3W
81
14
02
19
10
28
40
7P0.7OO
Toitny's N't
Vnr unite
17
a r
1 -
1-
31
4
l'4
13l-
63 f
H
106 -8-8
4U
78
20 V
91) -
103
13 -
100
115
114
73
38
79 -r
4
79
38
3
88 -103
34
48 83
105 'x
8
57 18
1I0H-34-73
IS
79
1
25 H
03
20
61
71
11
22
28
60
7
41 -00
1
61
7
SB 4
30'
R0 -80
234
20
01
94
i
M
1
I
Vi
'
1H
X
?4
1
1
H
1
'
H
1
1
IK
1
J
t-
70
10
12
ll
13
72 M
7 f
61 100
8
4314
.37
71
20
80
33 K
14
82
10
33
47
87
15
63
20
4
10
25j-
49
nharpH
I
1
5
3
1
1
1
4
84es
500
800
801
800
300
300
Dlv.
In S
ItlKh
Kelly-Springfield Tire 40
Kennecutt Copper
Keystone T ft 11
I Lncanwrnnna Steel ...
Laclede Gas of St L. .
Lee Rubber Tire
300 3.B0 Lehigh Valley
100
400
100
400
100
100
too
100
900
17300
900
8
12
2
19W
18
49
47
28
80
Liggett A Myers pf . . . 103
Loewe Co 10'
Loft Candy 1"
Louisville ft Nashvlllo 98
Mackay Co 6
Manhattan Elev guar. 51
Maxwell Motor 8
Max Mot 2d pf ctfs... 3
May Dept Stores 01
Mexican Petroleum ..144
2500
400
300
too
300
2I0
200
300
300
300
100
600
1100
13)0
400
400
3600
2100
200
000
1600
200
231)0
300
4603
1400
6500
1100
100
800
100O
too
600
401)
(00
3100
800
210
1100
6500
500
300
300
1700
1490
500
1500
800
500
60b
600
3800
400
5700
4800
3500
300
100
.1)0
3011
n.tiin
too
140H
160
20
3101)
3000
4290
2101
800
5ilil
too
lOlftl
100
200
13ID
65HII
1301
4UO
100
71)0
tltlO
6J0
170H
JOII
1 too
83)0
3011
3300
2100
200
100
500
300
30H
801)
3111
7 Oil
2UI)
1110
33H
500
200
200
yesterday.
Miami Conner 0
800i.po Mlddlo States Corp... 13
f Mldvale Steel ft Ord.. z
, Missouri Pacific 18
. Missouri Pacific pf... 37
8 Montana Power 83
. National Acme 33
7 National Biscuit no
7 National Biscuit pf...H0
6 National Lead 72
. . Nat It n of Mcx 2d pf 8
. . Nov Con Copper. . . 1 .-. 1 1
fl N O Tex & Mex
10 New York Air Brake.. 78
0 New York Central.... 69
. . New York N II ft Hr. 17
7 Norfolk ft Western... 06
8 North American 80
7 Northern Pacific .... 74
.40 Okla Prod ft Bcf 3
3 Orpheum Circuit 28
8 Otis Elevator 130
.. PAdflo oil 30 J,
.. Pacific Tel ft Tel 45
fl Pan-Amer Petrol .... 70
0 Pan-Amer B ..-. 83?i
S Pennsylvania R R... 38
.. Penn Seaboard Steel.. 11
.. Peoples Oas Chicago. . 4734
.. Pero Marouette 10
3 Philadelphia Co 33
.. Phillips Pet 30
,. Plerce-Arrow Motor . 834
8 Pierce Oil pf 73
. . Pittsburgh ft W Va. . . 30
5 Pitts Coal 89
4 Pub Serv Corp of N J 64
'8 Pullman 103-4
2 Punta Alegro Su-rar.. 42
4 Pure Oil 83
.. Ray Con Copper 13
4 Reading r,B?'
2 Rpadlng lBt pf tt
.. Remington, Type writer 33
. Replo Steel 36
fl Ilepubllo Iron ft Steel. 61
.20 Roynl Dutch N Y sls4
'1 St. Joseph Lead 12
.. St Iouls San Fran... 31
.. St L ft Southwest..,. 38
.. St Louis Southwest pf 38
.. Seaboard Air Line. ... 8?4
. . Seaboard Air Lino pf . 9
.. Sears-Roebuck 78
.. Seneca Cop Corp 18
.. Sinclair Oil 34
6 Southern Pacific 75
.. Southern Rail 31
ft Southern Rail pf 86
B Standard Oil of N J.. 148
7 Standard Oil of N J pt!08
.. Stromberg Carb 36
7 Studebaker 78
6 Studebaker pr 05
1 Submarine Boat Corp, 8
.. Superior OH Corp 8
0 Superior Steel 40
.. Tenn Cop ft Chem... 8
8 Texas Co 41 Y
, , Texas Co rts 3
.. Texas ft Paclrtj 31
1 Texas ft Pac C ft O. . . 38
6 Tobacco Products . . 44
.. Tol St L ft West ctfs. 0
.. Trans Con Oil 13
8 Union Bag & Paper.. 70
. . Union Oil 30
10 Union Pacific 116
8 United Fruit 108
8 United Drug 00
5 United Retnll Stores., 50
,. U S C I P ft Fdy 10?4
..US Food Products... 31
8 U S Ind Alcohol 66
..US Realty ft Imp. . . . 80
8 U S Rubber 71
8 U S Rubber lHt pf..,, OOttf
. . IT S Smelt & Ref 31
5 U S Steel 83
7 U S Steel pf 110
4 Utah Copper 83
. . Vanadium Corp 30
.. Va-Carolln.i Chem ... 30
,. Vlvaudou Ino 5
. . Wabash .
.. Wabash pf A 30
.. Western Maryland .. 10
.. Western Pacltlo 36
7 Western Union Tel . . 00
4 Westlngbouse 10 & M. 47
.. Wheeling & 1,1! S
4 White Motor 30
.. While Oil Corp IS
. . Wlllys-Overland 8
. . Wisconsin Central . . 33
Worthlngton Pump .. 40H
4
Thm
Low
40
19
15
18
46
20
10
103
18
10
08
t.3
81
5
3
00
143
30
1.1
27
17
37
83
33
114
no
71
1
11
65
74
0
17
05
50
73
1
35
135
30
45
00
63
34
10
14
18
.13
36
"Vt
73
30
58
64
cn
43
33
13
18
II
33
30
60
61
11
31
38
37
5
9
16
15'
33
71
30
56
118
I0S
36
)7
03
7
8
10
8
11
3
20
28
48
0
11
70
20
115
166
03
40
16
31
16
30
71
90
30
81
1110
50
20
30
3
7
20
10
30
80
10
:.o
15
7
33
40
"i
Vi
1
" Vi
Vi
1
1
Today's N't
fns C'hse
40
10
15
19
47
28
50
103-18-10
98
63 -51
91
14.1
20
13
27 x
t
23 -
118 -
110
72
8
11
65
78
69
17
90 4
50
73
127 3
36-
43
70
-11
17
18
33
38 r
33
73
30
J5 8'
64 -
101
43 33 -13
(9 -
11 -33
20
61 -81-
12 -31
r
38 -38
.-.-
9
7
18 4
33
'
30 -148-10SV
30 4
78
05 -
8
8
40
8 h
11 r
2
-
48-
0"r
1
7n
30
1.194-
n;6
85
21-6-50
-
71 -00
30 i
81
110 j-
20-
30
5-
7
20
"10 r
26
90
47
30
15-
33 1
1
4
w
1
H
H
3
'
Vi
3
3
1
Vi
1
Vi
1
fnr
Commodity Markets
Whrnt
Xluv
July . ...
corn
M.iy . . . .
July ....
uau
May
July
GRAIN MARKET
Upon HlBhj. Low
1.21
1.0H
tin's.
no 1,
a;
37
t.28'4
l.OOsi
57 J.
.17
381,
1.24
1.08
WIS
I?8
Clma
1.28
t.084
B7H
BIS
37 S
ass
trl
I,' .1 l.ll .1 ..
,nn... ... . mine uie will'
- 11 lie new preferred stock moved
...... v. ' . '"" i 1111 Mores ost 1
....nil ,,,t quires insi 1,, nn
nrh n ""t "'!'' r,,m,,ri" ,ro'
nenrh n point lower fiou, the previous
i'' l nion Tinct on and I C
J";1-" fV,0''''11'- transactions
jn Urk ltttllwnN preferred were made
The snillj mixed charaiter of n,
ia",:?h; "7'1'"! if ","""''""
,., ffll P" nlrendy existii caution
M ( and , Ucrin.inntlnK attitude f Mn
.!,pr -f , J5J5
7,-rA. i$
' bthnrsic ...ndition 1 'ere
VflDi.i n.".i .,'"." "' "" -entlH.il.
A. 1 """""I iiirecini's
tL ?U" M" earlier
".tMiicinuei
on
in
reduction,
tlie divi-
the week
with the
bu eh ,..'" p ..'.'Jr. '1V11"I'', I'itts.
ImmcI f. .u " " lno rnlronH re-
"enlTo,h, 'l""'"rllsi'K notional
to lX i n,KrP" '"", " disposed
din i.wi n'nrf' '"'I'efill'vleiv for the
' ! 'nrriers will be in posi-
tti" L h" If" .lllPh fall'"- "Tnirs ns
" nu prior to Koiernment control.
t - -
e Dank Opens Soon
COTTON MARKET
rre
rlnit, (lwn. ItlRtl l.nv l'oe
tav Vi It 1." a" 12. :iu 12 17 MM
Jllh ... 12.11.1 12.7.-. 12. VJ 11'. 70 !2KllffhJ
llc'-iber tail 1.123 la.ai 1.122 13 32
lleiemlier 13 3.1 13.63 13. 72 13.01 13.72
.tlinu.lli . 13.70 13.K2 13 SK 13 70 13. Ml
Mm I I'l, . II 113 It. In II 1.1 till II 12
SP'1. 12. IV.
NE$V YORK COFFEE MARKET
Yat
UOIIA
March
April . .
Mil) . .
Jun . .
Juts . .
Aukusi
S"Pl . .
lire . .
Nov
IK-u
Jan
IVIi
Hid.
Opn ItUh lAiv,
7 21 21 7 23 7.2.1
oi
7 2(I2I 7 211
.1.3341 .17 .1 III
5.72171 8.73 3 13 .l.lllK'f 117 3.7
. . . S.NHfJiSII 5 t)S
. ii.iiiw ;o n.io r,. in ii.niM 1 1 n -jo
.11 30O.1l n. 40
. n 3IW.17 n..in ii is n ivivM n.ao
. . . . 11.111(1113 0.73
n sow si o.oo
litis 7.00 n ns n.n.iiiini 7 ns
7.(mi3 7 13
7.11(1 13 7 21
this wnek.
3,203,0011 shnre.
Philadelphia Markets
, WHEAT rtecclpts. 73.823 liunheln. Mnr
lt 7o higher. Car lot. In export elevator
No. a red winter. tl.81Ol.S0, No. 2 rfd
winter garlicky, tl. 4201, 47 Other grades
quoted at tho following schrdulo of dis
count,; Mixed wh'at Be under red winter.
3o. 3 wheat 8o under No. 2, No 4 wheat 7o
under No. 2. No. ft wheat llo under No. 2.
Hampln according to quality.
COtlN Itecelpti. 84.003 bushel,. Offer
nig, light and market advanced 2 214 o.
Car lot,. In export elevator No 2. 71
72c. No. 3, 08HO60e: No, 4. 0087c.
OATH-ineceipts, 3000 buhel. Miirket
nrm ana lc higher. Car lot an to loca
tionNo. 2 white, aoesottc. No. 3 white.
Pliiladelph ia Stocks
10(1 4UUr. No.
KI.Otm Receipt,
Falrhlll Stat
A n,
nn
ll h
nen
in
inonthi
-kn..,. ",'" .,"","r "" charter
openertn "," !.':.' '"Irhlll Hiatj llanl.
.... ": i tii
Dm..,. '" "'".y "IX
. - '' PHI H
Uifl Hllrl All
tlMlL, IKItn.illi...
,'...." --" - ''.... MM
. miirr lilnntl'il In
" Hi. pr 'irt,n? ,.or " '.ipltiil of t.ln -fuiinen
in.,, ! ." '"' 'a ,""'" fnrnvd l
I .in". In'll In Ihe lie uhl,rrhn.l l.!"..i.ilu
L "'l lie IfirutBrf ---.-...--..,..,..., ,, ninvu
SXS'rriffra..
FOREIGN EXCHANGE
New York, Aoril 10. --The opening in
the foreign cxcIuiiirc mniket this morn
itit:. with the inception of lire, which
were off 1 1 points, ivns comparatively
stendj. Slcrlin? wan up ',ic; funics
were off 1 point and guilders were it n -ilinnved.
There was Improvement of
'J1', points in mark'.
Quotations were :
Sterlins cahles .I.KL'i.j, demand
".It1r,i; finne ip.blcs 7.1'J'j, cliecks
7.11's ; lire cahles l.tll checKN l.0O',j ,
Swiss cahles I7.H.1, checks 17. ,'tU;
guilder cables '11.70, checkH .'U.OVi;
iic-etn cables l.'l.!7 checks l.'!,(),"ij
Stockholm cubles a:t."B. checks 2:1.70:
Chrlslianiit cables 1(1,1.1. checks 111. 10;
Copenhasen cables IS. 15. checks 18.10;
lieleian cables 7. .IS, clieckj 7,!?7 ; mnrki
1. 01.
The premium on New York funds in
Montreal was i;tH per cent. The rate
of discount in New York today -on
I'nnnillnn funds was 11 0-1(1 per cent.
After the first hour limitations were;
Sterling tables ,1.I1'4, demand .IWVj i
franc cables 7.11 checkH' 7.1!1; lire
cnbles -1.1ft. checkH 1,02; marks 1.01.
Central European exchanges were Ir
regular todn.i. Quotations were; (ireok
cables, 7.0."i ; Ittinianiflii, 1.01; Ilul-,
gnriaii, 1.04; Hungarian, 1.01; Aim
trian, ,TJ ; I'nINIi, .12; (V.echo-Slo.
vakla, 1. 10
YK.STKItDAV (, KINAI. Ql'OrATIONS
Mierllng Crane, t,lr Clullderp
lieiimn'l 3 IMS 7 13 i 7fl 34 0J
Cnlilou 3 U2S 7 13 4 7H 3t T
'lOli.WS IIPKNINO Ql'OTATlON'H
Sterling Kranc, Lire tlullder.
Demand 3 tUS 7IIH 4.IWU. 3 s
Cuhlea ... a.HJrt 7.121? 4,01 at 70
ri,osi.vn quoTATio.VH
, Sterling Kranc, l.lre Oulldem
Demand 3,021, 7.13 4,01 31,(18
., 3.U3K 7,15 4,03 34.7S
4 white. 45mr40e
elntlt' tnna hhlu mil 7T0 "III I
lh. In jiack. Quiet hut firmly held The
quotations, tnrt Ibe., packed In 140-lti. tule '
sack, hofi winter, straight, western. 10. 30 I
"fO (5; do do. nenrhv. 10.2300.50, hard
winter, (iralght 47.7.1 8, do, nhort patent
s.i'3ijs.30 iprlng, Oret clear to 23411.73
do. pateni t7.liOWR.18, do. short patent.
fi.4(ifri s.iii, fancy spring and city mill,
patent, family brands, 49 .HlfllO. Itye
four tR8.30.
PflOVIHIONS Steady but quiet. gunt.
',"?nJ-. ,"?' 'a ' smoked and. air
dried. 3lc. beef knuckles and tenders, smoked
and nlr-drled, 82c, pork, family. 443. ham,
? ' nc.l,',r',(!-.l.?0"e. 23 26c, do. sklnnel,
pose, 2214 4234 c. do, do ,moked. 21
..lic, hams, boiled, boneless, 41c picnic
houIders. S P. cured, loose, Ulc. do,
jmiked 17c. Iwllles. In pickle loose. lc.
brekfat bacon. 23c. lard t3e
IIUTTKn Quiet and unchanged Quota
tion' n-cah, solld.packed creamery, fancy
hlgh-scorlng 8082c. extraa. 40c; extia
"r 47448C. first,, 4340c, ,econds 83
f42c. Inferior lot. lower garlicky. 28
.1,1.'. sweat cronmen. choice to fanev. m t
c. ftlr to good. 404780c print. Jobbing
t BOtdlc for fancy and 494BRo for flr
to good,
...Ll'.u?. : Bteadllv held nt lata adv-jnea
Ihe following are the quotations Nearby
firsts, 28o per docn, nearby cur
rant receipts. 27c; western-, extra nrsts. 27
2711c, do. nr,t, SJ326V,c. Inferior tale
lower, southern, 23023c: fancy selected
oandled e,g. Jobbing at 8037c. and fair
to good. 3110350
CHEl:Sr--Vak with trade slow We
aupie' New York, whoe.inllk, first,, fancy.
nein, sj WJH'jc, do. fair to good, held, 2(1
ti27c. do, fanoy. fresh. 221, 4f 2.114c. do.
common to fair, fresh. 21022o: Ixinghorns.
held, 242301 do. fresh, 244250; , Ingle
Ualsle, held, 27S4i'2S4c, do, fresl!, 2,
2(le; Jobbing sales of fancy held goods,
3(l4r31o
I.IVK POUinnV fowls fancy heavy
fat 304 40c; exceptional lota higher, medium
374SSci Inferior, S.14Z36C. ,prlnw chickens,
broiler,, ASM 70c, oung rooster,, fancy soft
mealed, 374SRc, staggv young roosters. 20
4SOc, old roosters 2l4J2.1c ducks, while
Pekln, 30441c, mlxe.t color,, 30438c,
pigeons per pair. 53460c
UIlKR8!:i) rniIrilY l'owla, fresh-killed
dry-picked, In boxes, weighing 444H lbs,
and over apiece, 40c. eome fancy nearby
stork higher: neighing A lbs. and over apiece
3R4Z3tlc: weighing 3S lbs and oier, 34t
37c. weighing 3 lbs, 3IQ.14C, fowls, fresh,
killed. In barrels, weighing 44414 lh,
aplecee, dry.pliTed and dry-Packed, 3t)c Ice
packed 3Sc, weighing 3 Ihe nnd mer arlec
371, 43Rc weighing 3', lb. ;i348rtc. weigh.
Ing 3 lb, nnd under 31WS3c. old rooater,
dry-picked Hesiern 2fic do southern 27c
. . ,,,,'h
20 Am Str.s.. M
ft do pref.. n.'t
40 Cam iron 3-Hf,
012 Elec Htor.100
10 Gen A8ph 02'',
50 I Co N A 21)
CO Lch Nnv, 05 U
ti en vnl..
1203 Pa II It..
4 Pa Salt..
100 Philn Co
cum nf..
.122 Philn Klec
222 do pref..
in- j. '
H'l no wnr. 4
400 Philn KT 17V4
144 l'n Trnc. .'1
lOOOtl'nion Oil 20
l-'lfi I'O I... S.1-
22 do pref.. -lilts
20 York Hwy
pref. ... .10
r)0t.
,T)V
71 ),
32 U,
21
2.17J
Net
I.OW Clne , hge.
." I ." t ' ., . .
113 1)3 27-
31 s 34 's Vi
lOS'j 108j ir
'12 v, navii
2!) 2!) . .
05V4 Vi
no i
2554 Vi
0."
r,o
3.V,
71
32'
21 ij
2.V-1,
s
17',
31
:i:ins
111
30
71 V4
32'..
21 -l
i
17..
31
20 , .
33-'s
4!Ts..
Nciv York Bonds
(HAI.EH IN tlOOOl
Am CJd Oil Si'Denmark Con
t . . . 7.1 cl n 8i
Amn mlt A 2 . . . . ft 4
rtef'g fig
I 76'il
Amn T T clt
10.. .. 7Ri
3..
Den A
6
tiSS
n o f.i
44'
10 (sale) 44 4
Amn T . T ill Del 1MI ft" 'to,
t.. .. 1S 1... 70'tf
2 R2 Do Canada '21
Amn T A T ns 22 DO1
2 ... ftft1. 2.. .. t"
t tins h... . no's
1R. ... tins Dom Hep'c f,s
in. . tins 4 . so
1 .... Iiji Din Llfrtit (la
7 .. mm n nn
Am'n Writing 3... . no
Paper n Hrle Oenl I. ten
1 .... 70U 2 4014
Ann Arbor 4a 1 40'i
2 ..82 1 40'1
Armour 4'4n 1 40 'i
1 .. 7S 4 .. . 40W
Atch Topeka ft 8. .. 4(l'i
H'a To 4s llrle 11 It cv A
8 77 1 3'i
10 ... 77 1... 36
1 77 Krle It It cv II
1. . . 77 1 nn't
Atch TUSFi 1 . . . . 3flS
K O Dlv 4s title It It cv 1)
1... . R4H 2 ... 101,
Atl Coast t. Is Fla B C 44
3 76S 2 . 7814
1 . 76 '4 dene' I Klec 6
Atl Coast l 7 2 . . . 10O
1.. 101 1 ions
Xllantlo Ilof'iOoie't V It Rs
ct 6t4" 3... . HR'j
1 nt)"i i.. .. ns',
1 nn 1, -j. ... nss
1. ... on'i 1.. .. nRS
Dttlt & Ohio cv 1. , . . tiR'j
1 08'i 1 ns
1 65S 1 "
1 nn' R'4
1 na 1 dhh
3 nn 1 nR4
4 no 1 .. or 14
7 nd O Swlut'd rets
1 . . . Oflii "1 104H
Y C " rots
2 -. 10014
2 . .. 16(1 '4
N Y Chi & Si
I.aula d 4sT.
I (sale) 72
N Yk I.laht II
A Power Co
3 . .. t'2
8 ... H2S
Pa II 41,4 '21
12 till'.
DO1, Perm It It 8
3 . . s:'
Penna It It (ii
3 07S
12 (snle) 117
Pa It H'd O'ji
II eV Ohio 3V4
1 R2
1 ... s:
I.
II
2
13..
n
Penna
1. .
1 ..
1 ..
1.
IM 14
. . IH'i
, . n-i'd
. in",
. (1.1 '4
. . 11.1 '4
, .' 03 'i
, , tl.l's
, . IMS
, . 11.1 '1
. Ii 3 S
It It 7
. 101 1,
. l(ll
, U'l'i
. 101 S
People" Am I,
& C Co Bi
1 . 70".
Pitts Cln C &
St I. a- 0
.1 . Rt'e
Heading It) 4s
2 . . . 7n
fi . 7RS
llep Chile rcl,
2 . . . !'
8 nn
2 . O'l
flep'c I A S ,1
2 . R-1'.
rtlo O A W 4s
2... D3'3
St I, l'n Mt &
S'n niy 4,
2 . 1TS
St I, l'n Mt &
103
1034
101
natt A Ohio Isflranbv Con Mi S'n My 8s
10. .. n7'4 S I Co 1, 3... SO
..... . ,,7i', , . M) St I. 1 Mt & S
2 .. . n;i4iOd Trunk rets K'
Halt & Ohio 5a 1 . inp, "
1 . iinli n Nih fllv lei 1
1 6(1 ii, I. . .. 7f)"iSl '
Halt h Ohio C,IIU'l A Man fd
2 . 8R 1 nn
11 t o p 1, 11 1 on
A IV Va 4 it .ttnd A Man In
2. . .. (II 81. ... 3n'4
Halt A Ohio 31 20. . .. 37
tVml'n 3'4" ' 0 3(1'4
1 .... 7I1S, 1 .161,
Hell T 7s rcta I :m4
1 03 ,
UI3V
104
103
& S
SI L. A
10
1
13
!
Both .Steel 1,1
1 . . 110
1 . HD'i
Hkn Kill Co 7
3 . WIS
1 PAS
Hrkn H T ,1s
7. . . 2S
('nnndttin Nt'n
HIvh ri.ls I
3 ... I02U
1 . IU2
1 ... 102S I
Ctl Pacific lsil
2-4
111 Centrnl fd
6 711,
I ..78
tnt Met ct 114, I
3 .... 1714 '
.1 .... 17,St
Inlboru It T fi
2 31
It).
ft.
t
17.
II
07 S
r bj
(12 S
62 S
62',
1 In
47'4
47'j
47
IT '4
47 S
-IS
r.R
r.R'j
3S
rs
BR
r.s
3RM
88
3S
BR
Series
(I
3
1
... 47'.
47'A
. 4S
A H Cran
,V
cnij
, (.OS
en'.
1.. hi
St 1, A S I'ran
Series 11
1.. 73'.
St I. A S I-'rnn
Series C
i Ml
St I, Siiw-11 3.
t . O'l
New York Curb
A'm "oal
ilimr feather
Ileih Motors
Cidiimbln. Kmerald
I and K pref
Kniplri- Food
Inter Jtiibber
.North" Amer Paper
Perfection Tire
Itadlri (Vim
Mntithern C nnd I
Standard (In, nnd Klectrle
SiHnd (I ...ml lllec pref .
Hwii-ln Co
Tenn Itwy
Tenn Hy pref
r r-iiip i.orp
IM)lSTItl,I,S
High
1
.. (Mj
.. 2W
.. 2S
.. 31
Ii
4
i
n't
ti'i
34
.it
22
X)W
11 30
11 m
IS
ti
2S
31
2 J4
S'
4
It
OS
11",
3IW
2S
IS
ns
3t
4'?
is
I'S
IIS
I
"ft
C S Hlenm
I'niied Profit Mhailng..
llnrren Ilrus ..
ST.tMIAltl) OII.S
."land oil of Indiana . . 73', 73'i 73.
im)i:pi:.ni)knt oii-h
Allied Oil
lloone (III
lli.sliill WynlnlllK .
Cnrlli SMidli-alo .
Creolo Mn .. ..
('itle, forilce "M"
Dennv Oil ,..,
Ulk Itasln Pet
Knglneers IVtrol
Vm ivt
llenini-k Oil . . . .
Dutfe ijllle.ple .
Ilililm.n nil
.l.ir l;i nil I). 1 (in . ,
Mhihi-iiIIiii Oil . . .
JI. xlin Oil
Noble
1 mir Oil .. . . . .
Pennok Oil .'
lied Hock Oil
Iti an ("una ....
HhIi Creek (new)
f'.imms Pet
t-kelly Oil
lexon
l'nTexas Oil . . . .
t'ntled Hoialty ..
Vinorla oil (new)
ctfs.
11
m
H
RS
"!
n
1
RS
IS
.
IV,
l'.'S
23
211 H
IS
44
2S
r.S
I
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l.T
sS
BS
)
,V
5:
10
MININ41
Atlanta
Hooih
HoMon A Mont
Cande'.nri 1 M
' orlez Silver
1 reason (lold
1 n-ai.-nl McNamara
Kmm.i Silver
Kur. ka Croesus
Klireka ll-uly
iii.1.1 IV.II
linld I)el
iloldfieid Florence ...
Hold suier Pick ....
linl.l y.nn..
Hm-Ih Mlnlnc ,
Iron Jtlos.om
.luir.bn Extension ...,
Knox Divide ,
Mi Nn mn rn ,
Macmi Copper
Mm run Mining
Mother l.od.j ,
NiUIoiihI Tin
Mule. lug
ophir Sller
Hex Cons
Mill T11V
S Sllwr l-ad
r..nm.ih Helmnnt ...,
Tonifpah Cash flov ...
Innop-ih Dlvldi-
TmopAh Kxlen.lnn ...
Tur.iipali-Jlm Hutlcr
lonnpnh Mldwnj ....
Ti noinh Mln
Y'limp.ih Mlrpah ..
'Inii.ilMh Montana
'roiinpah Heecue Kula
tolled Kastirn . ..
M'-i Knd Con
White C,ii.
Milliert
IIOMIS
rtia . . .
Cerrnd.. Paseolntl Agrlcull I1-' ' a"'""
Cop'r C 81 I Corp'n 8. I -City 7,
2 . inn a.. Rn'i ! 4'
I. . lOrt't.l M Mnrlne in Soo Pnulo of
n . 107 1 . . . sni J "r.uiil ct a
r.o
c .
3.
1
Ck
1
o 1
07',
I, HJ
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I. ,1,
111
in
tune
llldM,! 1 SI SeKb'il A
107 l 1 .... mis '
1071,1 i . M(i,,ifeali'd A
I' I11H.1 Cent II- . .
. .. 7.1 1 1 .. ins 1 1
. 73'4 J.mie.Cn Krkn Sinclair C Oil
A O cv Si A Clear' d 4i . Corp'n 7'js
2 .... R2 "4 1 . . 78 1 4 . . 112',
3 S2 Ijan Ome't tll ' H21,
C A Alton 314 I R2S .1 I'2lj
ft . 33 un.. . R'JS l ''-'i
Chi It A Q Km Jan OoiVt "d'So n Pacific fd
Anie- Aari Chem 7
Inter - 11. lPi'-J
II1 Te Hi no.
Annroi-fl 1 c,i , ,
An.linndii 7 ll2!).
Armour 7s
Ilelh Siee 7, l(i3',r
Ib-lti illeel 7, mar, .
1 111 H ,., 7a 111.18
Chlr i;n t III 8,
Vippnr Kxpnrt Ss ll24.
Iimlnond Mutch 7S.
1.
Chi
II A
rRtv a . h". 1 4 . i.i"i
O 4i'.Ino Oove't t f n I'ac cv 4a
J
(1,1 S
7RS
2 ns'ii 1
7 iirs i . . nr.s " hbiiw
11.. .. IISSl 3 H3S1 - :,''
I tiss 'Kan c l-"t 8 A 1 87 S
3 IIRS I Memp In Stand d OH nf
23 . JISS1 3 . Oil,, Calf rets
10 URSiKnn C A S 3s ' l"2S
Chi A Kaslern I 811 8 ln2S
III guar ct Bs 3 .. BO 1 . Hi-'S
10 RRi.'Keniy Ctl 4, Third A nj
Chi A (3 W I, 1 7ns1 ln 32i,
3 . BO K Heiglum lis Third Aw 4
Chicago Mil A, 1 fit : 1 . 13',
Si Paul 4 K llelg'm 7Sa'Tldt.wiiter Oil
Hi a ml Tiunk IP
liulf Oil 7i
l('ln?, i.o 7a
lluml.lH Oil 7i
Interh It T ;
l..r-let ,ltH
M.-xlian l'"t '
Uhln Cl'le. 7
Ohio Cl... 7
1 'hlo rover 7h
Seal. Roehtick 7,
Soulhwe.t Hell 7.
"u-tl N V 7 I ll"J
South ' Y 7 VH
Swift A l'i 7a
l'n Hwv ll.irina "
aciiiim
31
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NEWY0RK BANK STATEMENT
Reserve Position Strengthened.
Loans Reduced, While De
posits Increased
Tlie iinpnil-oil reerve pnltlon of tlie
CleniltiB limine intitiition wim cor
lectcl till week ntul the iictllfil rondl
tloni '.howeil 11 rrnerve of S10.43S.ISO
In xcom of legnl reiiireinetitH In pine
01 11 -leHcit of $4,331,320 reported lnt
Siituiiliij' This wiih nccoinplNlieil l) nn,
iticrene in rcM-rve creilit nt tlie Feilcrnl
ItcM-ive mirt,of $22.Mm.()HI. offHettlnx
tlie incrcns'tl llnbllltlcs through the ex ,
I mi-Ion In ilcpo-itt of SI l.fl."ilMHHl 1
l.oniis nml (liicoimts lien- cut .$(l,4,"ll,-
(Mid. '
Dfliiilx folhw: 1
BANK CLEARINGS
Hank rierlnir, toda rompared tilth corresponding-dai
Inst to rarn
tn2l 1PJO IfllO
Phils ,nn. 7011 IU R.1 31rt (01 R0 7(1.1,243
lb.tlmore 18 181 801 in HI?. 37 ,.
P.'sinn 83.770 I2R 72 3,13 0.11 ....
N York 7R2 471 30.1
I
Kxiess reserie .
ABKr.ale reserie
Ixiana, etc ..
Cash In aiilta
and memlier
banks ...
Ite.erie lie mem
ber banks Hnd
reserie banks
Itejene In state
banks nnd trust
rnmpanle .
Ite.erie In -state
banks Hnd trust
company deposl
mrle, . .
Net demand de
posits Time deposits.
circulation
United Slates
deposits
deducted
AVKHAOi: I
This Week l.asi Meek ,
t12.3ft2.3HD R 3!ll BMI
Bll.1 nso.ODll 8il3. 47R OHO
4 RIR II7R t)(K) X. HI I, Ull (MM
R2 III 1. 0(10
711,221 (H'll
4R7 R"n 000 IR3.7IU.OIIO
!l 070.000
7S 000
8. Will OOil
8 717 000
721 RIO nnn 3 7.11 372 onn
.'to iRt.onn 21R nis ooo
.11 fl.13.0IIO 32.4 IS (Mm
111 2.17 000 1(0 Sfl4 OOO
Spruce 8200
Free of All Taxes
enr OF JOHNSTOWN
School Improvement
Bonds
1926 to 1947
Price to Net 4.80f0
WrRITIKH nKPAHT.MKAT
Commercial Trust
Company
Member redernl ReaerTf Prstem
City Hall Square Wett
ACTCAI.
This week
110 43 1RO
MO 021.0011
I
l,Sl ek
HI -13t 30
R7 Rn.3 OOO
23.ni4 OOO 430 113 001)
7n.n3n.OOO 7R 713 (Mill
i'i2 nin.ooo 170.023,0001
fiXtesa reerv
urecate resere
Loans, etc . . 1
Cash In laults
Reserie in mem
ler banks and
reerie bank
Iteservn ln slat
hanks and tru'
'ompinlea R nni.000
Iteserie In state
tanks fid trut
rompnnv deposi
tories R. 7t1.on'i
Net demand de
posits 3 727 fWUinn 3,713.310 Olio
Time deposits '.Ml. 74 OOO :3ll..i:.3.000
ciriulHtlnn 31. 73R.'i"'i 32 1W1 "oil
Cnlled flutes Ie.
HSI4 .l-dueted 134 711 "Oil 1411 Kill (Hill
lll-f
K,K(l'l.(IOII
(Kill
Today's Range In Liberty Bonds
l.ibort.t
I.lliertt
Utferty
I.lheit.i
l.llierti
I.iherti
Liberty
Vic Not'
Vic Nut'
High
'.Ml, 1(1
S7.IS4
S7..-2
sT.Kn
S7.7tl
1I0.7H
S7.NO
117. (Ml.
.I7.U2
I.OW
illl.llt
S7.04
S7.iT.
S7.(tl
S7.."(i
S7..lN
!7.."S
!i7.."iti
!l7.ri(!
Vie d
I '10
1 no
I on
' ' J,"
: .1 jo
". 20
:. :ti
' 40
: s no
United States Treasury Certificates'
Hal" Oate Hid Asked
3 Mai- 1 1821 1"" looee
1 .lune 1ft. 1H21 100 loo',
fil .lune 18. ItiJl I00.J, 100A
ft'i Julv 18 H'21 IOO I003-.T
n I1R-. in. 11121 . . lOO'a IOO',
34 Hepi is. 11121 mo l"0 3 3:
n Sept 1.1 1021 mo IOOA
S "rt 13 14)21 . 10l IOO,-,
en Dee 18 in21 100', IOO.
-.. March 18 11)22 1"o loo 3 3:
Normal federal Inconre tns onh
tArpeptable fnr payment of ini-nm,
due i.n date of maturity
Raw Sugar Market Quiet
N- York. April 111 The ra- suet in i r
kei rnntlnues nui"t nt prlcee rattamj from
8 ill 10 3 77 eents dul paid There wpre
no sales reported lesterday tinii'.na linns
Inrluded 17 "00 haca 1 ulins and 10"0 bars
San Unm'nco to ihe Notional Hucar He
flnlnc Co 1non Imes San t"intnjo to the
Amerleare Sunar rt'-nninu Co n, Bono hoc,
San Pomlni?os to Arburkle Iloihers The
toral refined marl.et is unchanged
ItasHHTforpfftCTrTOfe
Uncertainty
Is Eliminated
livery clrment of uncer
tainty is removed from an
investment in guaranteed
mortfjaRO!!.
No possibility enn arise
that can affect the security
of either principal or inter
est payments. Roth are
fully protected nnd punran
teed. We will send you a list of
available ptinranteed mort
trnpes. PHILADELPHIA
COMPANY FOR
GUARANTEEING
MORTGAGES
I'nii.Aiir.i.riiiA
ii'm It Nicholson fresHeni
tn I c idmonds Sec A T eas
C. S. PATTON & CO.
31) & rillTM T ktk.
BANKERS
Successors tn
HAII.KK A KTKVHNMIN
lloniU nnd SlnrKs hniinht and sold
on rommNsloii
Member I'lilln. Stork r.xrhnnte
riVlMIU,
Annual Itredncs
ajs
,
2 . . oni
Chic.mo Mil &l
SIP cv 4 'is !
07H
07 "i
07',
H7 ',
n7
Co ct U'?a
1 . . 1)3 '..
2 03
Union I'ac U
17 US
it t. fnlon Tank C
dji4 Comp y ,
liTi.1 2.. . 1(10 '3
.in', K Holicm rets U l of Q Urn
(171,1 10 iu-l
7 I 1 ... (I'll,
t)7 ;' 1
ti? ', 1
Reading's Increased Assets
He
3
1
1
07 ,!
07', I
Den I
04
2 n.v,
("hicnsn Mil It
Stl' fd 4',s
n
3
ChlciiBo Mil ti
SIP urn 4's I 1
1 . . 74'i 1
TI 1
1 71 1
Chleaco A Nth 12
Wn 3s 'H7
in 114 Kinednm
ChlcaB.i Nth, mark 11
West'n O'js . .
I. !" 2 ..
1 PH'l
Chlcaco Nth,
West n 7a
1.... mi
1 ... 101
fill RalllTVa .Is
1 nn k ot Italy nv
1 nati 3.. .. ss
t en W Kingdom Nor-
0 nn'ii way ct Ra
0 .... CBi,i 1 ... 101
1, (lfl'i 1 1 ino.
Ilti's
I'll',
1)9 ' 1
ll'l'.
lint
A lialnm-e sheet of the Philideinhii an
lintf tlnllvva Co for Ill'n h,. k-d .
sued in cmnertiiin with the proposed merKerj
.tf ,1. , lii-ni ,,.u U S, .."".'
r ,,...... ...,,i ,11 ,,-.-i.iini; 10 It
shows 1nt.1i assets on D-rember "I Iii-o e
N222 Slit 201) uiralnst $ 1 73 731. 2od on Ihe
preceding Iiecemlier 21. atl ln,-re,i.. of 14n
' larite part of the increase H due to
a rh.nit" In m-nunls r..lnnrlna; the termlna.
lion of Boiernnient control and ope -at Ion on
ivi.ruiri 2S. 1020 says a statement "..
ued hv the coinpam 'Probablj themo.t
imtewortliv rhan in the bHlance ,1, ,'
the tinusuillv larne Increase in prnnertv in
-..-innnl are tint nnd cnmerwlv m that
Pirt of rnrprail.n surplus hn-h h. hi".
.....I. ,,n no u .uu.. . ... .,. -
,',,,' ,,( n - rt ,'KUll ,, nUllll
Dllll
The total Increase in property Inie.i
t m i piH.e.1 at t20 210.333 (n in" m
h,!.M id- ib i..miMny reports under rr
lorne surplus additions to propert, otrouirh
m. .in.' and surplus of t.13. 4.11.031) lln , In
. 1 ' of J'-'O 0117 1171 In n year"
BrirtK Your Problems Here
lie assure ou of courteous treatment
ishlch combined with modern equipment
Biles ou a tomprehens ve service
Union National Bank
tt'icrrf ,tr-h Street Crones Third"
IN PHILADELPHIA
oiKin: ok Tin: initi:i) oas
nipnovr.iin.NT company
It. turner llrond mid Arili streeta
Philadelphia April II 1021
The nn'.al M-etlni .,r th s.o. khoidera of
The I'ntted flas ItnpniM tneni 1 ompany will
be held at the offli-e of the Cnmpanv, ,N" IV
1 orner of Hrold and Arrh Streeis Phila
delphia. Ilundii), .May 2, 1021, at 12 o'clock
n.Min nhen an eiertlon u,n he held for a
President nnd six (ill D1r.1t rs to serv for
I-1 ensulnc year, and urh nth.-r business
villi bo trapsactid as ma )m broueht beforaj
the meeting
The tock transfer norks vtill be closest
from 3 P. M. Wedne-div April JO 1(2J
until 1U A ' M Tuesdav Mav 3 1B2I
O IV- ( ritnAX Secretary.
Safe BondsySr Investment
HALSEY, STUARf
&. CO. Inc.
1 , "- Pl-,.NNSiI,V.M. COAI, AND
a I , , , CtlKK IDKPOKATION
ons and sur
H. L. Smith & Co.
INVESTMENT SECURITIES
1009 Land" Title Bid.. Sprsci 6721-2
U Iv of v
ft I'd 1022
10 in
poi: I' K of i) lint
on 1, & I'd 10.-J
(il)i, m .... ssi,
III) 3 2 . . MH
out, 3 . ch
ns O K of O Hrlt
nnui I'd 11)3
ii,
Reading Iron Co. Reduces Prions
iv.-,lti.oii. 111., April 111 The nu.i..n
' one ,,f th. Irff, .. .... ... K
!-, u... . . oe IP-
I ' ''" "". '"" eneci a nw nrli, llr
.11 .1 nihil -ir K.-s,.s The price ,s H ...
' '-.- "i-i-i -siunieiv xiu a ion
1 ' " - ii' "inpnnv are
shurt 1 1111
operatlns
Th
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
Idol) Itl.AI, bsTtrK. IIILsr HLUl,.
Iiiiestlcatf! and ndjuat purtnrrshlu and
lnrntne Tan Uettirns.
lake notice mat tpe .Innnnl M..i n- M
the Stockho'dera of the Pennsylvania Coal
and coke Corporation vvlll l,e held at th
Principal offlce. of said corporation on tha
lr.ih rloor or the Land Title IlulldinK in tha
Cltv of Philadelphia. Pennslvarla. on tha
2d day of .May. iol. 11 1 (vio thirty n'rlock
In the afternoon, fir tie purpose of electing
a board of nine Inrectors to eervn for on
year nnd for the irans-icilon of anv and all
nthei buslnesa that ma coma bafora said
meetinir
Dated, April 4 W2I
Alli:rtT 1 KniVAHD Secretarr
rBNNSVI.VAM COAI. AND COK"
rortPoniTin.v
3j tiii: anmai, MKirriNfj ok the
lockhotdera of ih.. ..ll,..l.l..ul. ...
houelns: nml Cold SliirtiKe ( onipanj for tha
ee t n of a Hoard of Hire, torn to se'rve for
1.1..
8..
1..
1..
1..
I..
1
83
83
SS
08
n.1
S3
S3
1..
NO
aiJ . SL r5 n mde hv compirlson with last
..on, N;v Tork stoc,, Kxehinee
njii'Hi '" 41RS "hnres. compared vvith
M73.J,.?na,r''" cterday Thus f.lr this week.
ioaa -'14-I)i:i.PIII V lt()M)s
1200 Liberty 2d -I'.s
mn) Liberty 2d W.
'MWi Liberty ,'t.l -vh
1000 Liberty .til -IVi
iiiiint i.iuertv
moo liberty
OWM) Libert v
'Hum I..I1 n, , ,
' cn icie pnoiic 7k
2000 Rcll Telenlion,. 7h.
0000 Klcctric & lViiple'.
tarda v h I ' "i""'''11 ,"'" '1 3.1(1 ves-
tarday. Thus far this neck 32 uo. ,
H. .
IN..
,'t(l 4 'ah..
:iii i ,..
Itli 4'iti.
S7.7II
S7.70
1111.7(1
1)0.74
1)1 1.. SO
IMl.tlS
S7.7H
10.17
.(I
Cables
Pelrce Organization Dinner
Krederlck Pelrce Co a-aie a dinner In
ita entire onran'iatlon at tha llotal Walton
last nlsht Addresses were made by two
prominent out-of-ton bankers Frederick
A Farrar lice president of ihe Ei.ctVie
Hond and Share Co of New York (Von
Irnlled bv Ihe (leneral Klectrle Co) Vm
phaslied the constanllv Inrreaslns; imnor
lifficn of llBht and povver companies In iim
erln costs of production to meet the era
declining commodity prices which tha coun
try Is entering upon " coun"
Cyrus Pelrce senior membei 0f (',
I'!f'.r : CS ,nt "'''"n! sook? f Vre
lallln; tendencies n the neneral Invaatm.ni
tuat on and of tha nwmn... ,.l.""!!n!,
the number of bond . owner ihl..IL'"l.n .In
West aa a rr
and tha great -
enjoysd during
of bond qvynera throhout ,h.
suit of I.lbartv bond camoaiiS!
jf;Prlty which tha Ve?f'R!
n tho lit raw ytara.
LIVESTOCK QUOTATIONS
80rrl" ,Pr" "! -'"ATTI.K - UeoelpiB.
800 head Compared Wli week ago Reef
teer .mostly 23c higher light weight. ho.?.f
nig. tne greatest nilv.ini. ui,h i. ..
Plain weighty kind show Ins imiL ,.Vi
itineiiyi!V for,e'" ''" top
4llo hliv,.V V....''"..,, eil" UH-K
.- . "".. r' nUIIS. rfOC IO HOC till
",0.b" and feeders steadv
tlv. ii.hilec"pi"' SOn" l"''"1 -Market ac
im.e HnZ l""1. '"edlums steady i0 ifVe
''""r . Others strong lo 10c higher ihan
''"""'il' J "lernge, good clearanc... I),,!,, "7
200 pounda nnd .town JIH.'IU.I bulk -"o
RlSiVd"l,Uo' R,10MR.7.1 plus .lead ,, u".
' RlJiefeV k S""1""'" PlK". I3W0.23. '
,.i?k EK', "ecelpts. Bono head Compared
'v''heek ago I.ambs ino.ili 2.1c ht-h-r
nominally 2.1c to BOc low hi '"
inno,,hl;il?h'.APr'1 ,' .. HfWJS rtecelpla,
Jono head Lower llenMi.. t'lns'i'
h.IKU In.l.... I,W. .., .- ".,,o,,,,.
.. ,,n .,i , iikiii i irK.r, inn n va
and
Vance
heal lea.
2,1c to
call
Chicago U H'd
& Pao fd
1 . . AT
2 nn.
Chile Cop r Cs Lack Steel
3
'King Pwd'n (tsl
8 S3
1 3
:i
lU S Mexico 4s
3 113
2 72 Lick Steel -Brt
Chines Oil ,".s 3 .. 7,-,i
1 4C,', I, im Mers , "
1" -. 47 1 I K.V,
Cliy of Dcrgen Minhat H'.i -
Ss rcta 3 ... 3n.
n.1', Mln St L 4s
City Heme us 1 4t
t
1
1
Cits
.. nn,
iiii
lit)' a M k 4
fiord' x i.s 3
41
41
T fd ci
32
C !
1
I
in
3
1
11
1
20
1. 7?i Mo Pacific
1 77 , 1 .. sst,
Cly Chrls'a ss t . . 331,
t !)(!' 3 34
Cty Cop'g 11, Kew Orleans A
I ... 74i; N K'n 4,s
City Lvons ns
2 . 77",
City Paris fls
7 1)7
I
N V
2 . H71,
3 . . 117
10 117
3 117 ,
117 t.
4 117 t,
1 . 7 ,
1 . (I
1 (17 t.
00 73
XI
Top,
iv no
SlinilP ANI LAMHS- Ite.elpis 11.10 head
r?iV'.eIop"h,,'p '" n l'mh inSs
IP til P" 10U hM'1 s'')'
Hast lluffalo. N. v.. April 1(1 CATTLP
-Krcelpu ion head Sleadv Calve
1BW12.30 :W h""1 n ',ollnr hlaheVV
IIOOS Receipts 3200 head Hteadi
leavy. tHffn. mixed tn 2.MJI f) 111 V'J.'l.
11) .-.. Ilo-hl tnrU.. tin .. a. .. r '."."-
8?i :'?"'- moVub'bT
....i.r.1- a.xi I.A.MMS n,..,.,n,.
Sleadv and unchanged
head
0 23
noo
Local 'Chanoe on Daylight Saving
Deglnnlnir Mond.v apii n. ..
I'"rher notice. ,he ii.",ielphla Stock liV
cjianga will open at o'clock ind clowi at i
O'clock on ful business days anfl fTom n
. m. until 11 a. m. on SMurdaVs
City Tnklo 3s
1 no
CI'd Cln Chi &
8t I. gin 4
1 117 1,
CI'd Cln Chi Nth
St I. (Is
2 . 7i-
Columbia Oas
& Klce 1st
I S3
Cons'd Oas 7s
I I0
Cuban Amer' 11
ttugar 8s
1 10u
1 . Hull
i1 1 0il , '.'
Cuba ltd Co .1. 1
3 72 ' Oregon
1 . 7Jt, I
Denmark Con 1
ct A 8 Pac fl
2 . li.S 1 1
1 n. Pa II R
1
ft
Vffl
M a sTaTaT.
3 . 3m, f . ra
.-pi g Jfl iB.
1 mh- trait
. Jmm? sB
i'. jV -HrislB
31V sV w M. IsIbIbW
Mtxlco MFSf jgKjgsJr
in , imr
4 "Vv g jM
. . 47 M ififl
47 i JRU
4 f B KB ,,
i1-! W ff US' ,
I'l m BS
4s MB SiS
20 4'3 jafcikw VM
10 4S Ftf H
1 , Vff .
10 48 gfA' . Ql
I Ii
4; '. y
'i.". 1 4n if- 1 jh
eti en is u s itubb r -. L C m
(!' 1 781, 'f " "" H
N 1 nt 1 ... 1 7 s-, fan ai wi J f mk
3 SS', V h Hub 7',- Ij H
1 811 n nil , " ' p vftfl
,1 s'l U'.l S titen ,, ssj tm JU M
in ss, 3 11,11, . JTj Qfl
.1 Ss'j Sassest W BjH
New- Vork O In 113 , fg aH
West'n 4s 3 11,, ' 9B
3 8s I lull p 4 1 ,, t . AwIHA
N V Tele i,a 4 mi , vm BfS rH
1 81'j 1 so, F
Nfk So n It .is Va c c 1 71 Pi HH
I'l '-..lie 41 r. nj" 1 aL JH
Nfk ,t u , 1 n 1 no t.m -jJaH
11 101 1. 'i 11 S -flCM
! n II Wn Pacini- 1 , 4E(s259Mflc!9
urn 7s v -uLHiHe
IK', VV , 1; Mfs 7. jIBBR
1 US', 4 no flMr
1 1 nil, ILj
1 nn nn 3MHM
1 ... ost, 4 no , ' ae"2KH
Mo K A T t, 1 ,, 2SH
No n Pacific 1. 1 o . I BS2vfsWt
1 nil 1 1 a Jteflj
7.11, Wilson Co is .
! I. 3s 3 kfcT. (t
"'l 1 8s -.
8IO.J 1 ki,
i V. 3s I
" 1 S3
Is 'Oil .- v
8') s. 3 ss
suina er and fo
s 1. n other Imslne.. as
t -. uBtit .w-to said mei-paf
II ,, nffl , ' M... . o,,ipn,i j,
inn i' .' 10 1,1,, mm., ro - -w
.,,,., . . " 'ire.
lt)il. a' I.' ,, r orK II Trans
I Close on Mednesda. April
pen on WedneMda. M, . 4,n
(he transaction of
ma properlv rw.
11 t- held in
-nware Ale.
lll . II l
fer 1 ....
jn 1 and
1921
.Id
w. r
Clearing the Trarlr
For Net Earnings
The United Statos Paiimi 1 i r.. 1.
nntJi .WJ? national aKreen1ent"
ctoVi v""tk " ;"c unuea states Kai road Admin-
SlSVi0 L7 for a redurt,on of ""
AN INCREASE IN RAILWAY
NET EARNINGS
This should materially strengthen the nnc,M, t
railroad bonds especially junior "is TueTTronl
roads, and first mortgage bonds of secondary roads
-1 m Th(! Federal Reserve Ratio has just mor-ho,. ,u
niencat point since June, 1019, indicating a consi I
erable lessening of money tension. lonsui-
The above facts point toward an advance in
railroad bond prices from present low levels
and indicate the wisdom of purchasing railroad
bonds now vhile a high return is obtainable.
To help you in our choice we offer the ...,.,
of nn organization which has specialized fm- , s
BROOKE,STOKES&CO.
Members Philadelphia Stock Exchnn6e
140 South Fifteenth Street
Philadelphia
734 Fifteentjt St., N. W.
Washinglon
102 St. Paul
Baltimore
St.
hr,p
Serttary
Wr' tiii; hast iiuoad top railroad
11:55 AM) IOA1, COMPXNV
North American llulldlnr. Phlla,. p.
o' th Eaat Hroad Top
Company for the election
Anrll IJ An
The Annual Mnetlruc of the Rloetrholi;..
Railroad and Cosl
. . , . .-otueo.
ana itn.ru i uirrriors to serve for the
ensuilis- M"r Will be held t the off Ira nf
the compans a' the above addre.s on
Thiir.dii, Anrll 1 mil .. .?. o "? . ort
.miiN cir.nnRT
o'L-iock
''err-'ar
IM II.DINt)
cl .irued
Tim rnrxTAT
loin IssnrUtlon
ml IteeMna of this As.ori,,!,
next 1lnnda eienlnc nrll la
i-1 n.ai,r ,. t-i
l-nr i,,l K-
entran-a faa
.i"-ki-ii r in mit s.r
rETF.n .1 TintiF p, .,,,.,
.f
' lit.
2d and
ft i-er 3.1 annual
d New serlsa -0
AND
tst.es
i:ieC;
et iry
',r0PO.ls
iir.r.vinMK.NT or ri iii.k uHKsf
III ll-.t OK llltilltt tiV 3
Itnom Ml. (II. Hull
1'lilliidelplil.i
Kjed i Punlap
Thief of Ilureau
1
April
.v 1 1 1 r,,.
it. Ilali
. for
fl IDLM
' 12 o'clock
Pr iposa.s
-. .1 in Itooni 2 1H
noon --klTll Sill, 10
A (irtiuinE
H splialt wavlna laiwi.rn.ni irorl,i
.. ....h.n.r a n.l a,. !..., ,.l. ' n '
I- .,. . . - . ...... a llKfl'inif
tn inutilities lo a-ed in va"
la and I'a k
i f n'trm nnn or oatiilna rwaohe
I , aBiie lairt'id Park
r.i'ri,ri'"K "d del verltig (l ,
oulto e'lmination
Fi.rtilshlt'f Kill d.-'i.erliiu
ha ml I rooms
Ileei ini machine i room spindles
FItXSK II i AEN.
(Mrertna
K
I"
"s'ures
I.iiu
in Wast
mm.
h'o. Itman'i
Tpti
n-
Its
llAMl.tllllllals AMI I:staiii.imiiii
.lealeis denrlnii to I lit tor upnui. Sf
finite llii.nilul fur the Insane. Uuinlll, V
during the nar lieiinnltm June l him ,
artdr ihe underslne, natm, what Vi...
ot foods II la proposed to furnish '
II II Bflll'I.TZ,
"'ward.
The ItnroiiRti of t ollinKiJ.ile, a i a iTa
..,,. ,...,u ii-,, ,. i. ...w .
in-1". "i'l, ! -." man in'riy.yaar
coupo i h.-n 1 iss ,e lleKie'ry I'l'i'unal &Uf
fr. oi sine ia Mm ni, .,u.n each itnV
Piu. ' ",, ,"'ui,ii na, y
I'Olllliaillle 'S
llltlilenil.
-
ijlr
Dox M
tnd Mailing Tutvt
EDW1NJ.SCH0ETTLECO.
33N.llth St PhlldeJAh
Th
Broadbent Apartment Company, IncornoratPrl
pun i)f.i.piii, rA fiuh.u
$250,000 ' Cumulative Preferred Stock
New OfTerinc
Uitidcnds Paynblp (Junrterlv
- i i.iiu:im Tiri.i: wn imsi mu,,.....
N -, corner llrmial nml ,rr. ... vr'
. I'lillmlrlultlii Pa "
Par Vnlue. $10.00 Per Share
i iitup.ii
esumr iiintinlH and operntrn ch.iln of
lrrM,p u-orkine
,npartmetitc
enpitnl to handle
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is nnd if issui il .i
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. ir aUt iiht h mil be nsnt mi rniuoRt
rx.
'his r.ipi.iiy
allotment , U,p
iliwstinent , Kvn
BROADBENT APARTMENT COMPANY
wo .sou.., ,M Btrt, ri,n,u.ipi,i. Xt,;;. ,ob5
III
The I . ir t of in,., , ,,
rail a s,-mi-ann'iai ,1t i ten 1
cent ilft un 'lie .il'al sin. a
pan. pa.ane p' i .1 Hi.'l
Irr.l
1921.
. ' dv t.
' four per
'hia com.
st'M-khold.
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lt'.'l
rt 111 he tllS leil
v Nfi'iSHiiruuKn
1-0
l.lerllnn Notices
HI ht.lt I lit NATION .
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Il III III
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