.,',; '. '. V . K. :- a? .fee .1 . j T c; ny f IK ft. . m u8P WCV V' KU Ul '. i.f K ' c t ., r-r Cii' ' r lfr (TT- INMKET WASVEWEBftTB Technical Influences Out weighed Fundamental Improve ment During the Week New York, Mny 14. MnvrnirntK In the brief srHun (it today's Mock mar ket were marked by extreme irregularity, and in PcatteriiiK part of (lie list were quite erratic. Tlic Indefinite trend wn without pnrtlrtiliir slRnlnoniin', except that it served to emplmie the ultra professionalism of the dealings. The ronOietiiiR nnd lunfilsiiiK pfie move ment wan largely the outcome of tlie familiar week-end evenlii(?-up opera lions of the profoMinnnl traders. Lib eral covering of sliortK in koiiic (pianeri mhH offoet by protlt -taking ond M-atter-tns liquidation in other sections. lie wider variations occurred in the lilKliiy speculative specialties, such as deneriil Asphalt. Senrs-Roebuck. Atlantic dull and West Indies. American Siimotrr, Tobacco. Mexican 1'etroleum nnd ni dble Steel. The nervous Ryrntions in these Issues naturally affected the indi vidual groups to which they nre popu larly attached. The fluctuation, how ever, in the general list were rather narrow. The cross currents with which the entire market was heavily charged were without relation to outside develop ments, excepting the possibility of a more stringent money market next week. ns a result of the heavy financial oper ations which must be arranged for. The week's development (piite plainly nnd quite foreiblv demnnHtroted that neither time, event's nor conditions were as yet just ripe enough fori any pro tracted forward swing in the security market. Rffnrtt. to realize the sub stantial profits accruing from the spir ited upward swing of the preceding fort night revealed in the first upon what a flimir superstructure the speculative movement had been built. It likewise d'sclosed the highly manipulative char atier of many of the Individual demon strations and at the sulne time gnv striking clrcumMantinl evidence of it still being a distributing rather than an accumulating market. In addition there was convincing testimony showing the. dominating Influence of technical conditions as the governing factor, rather than changes in fundamental and eco nomic factors. No one will deny the satisfactory progress In the correction of the fundu mental nnd economic situation, no mat ter from what angle it is measured. The market, however, has shown con clusively once more the enhancement of security values far outstripped the extent of the improvement accom plished. In other words, prices were marked up far ahead of the betterment registered, or in the parlance of the Ftreet. had overdiscounted it. Coupled to this was the recognition in omc cases, uotnbly attending the motor in dustry, that earlier estimates of the swing back to normal conditions had been over-exaggerated, or expectations bad been over-hnuguinc. In fact, in stead of the nromlscd boom, there are BOW repeated whisperings of a disastrous trade war. The Hitter is likely to prove as much magnified ns the previous op timism. While it is granted on all sides ma terial progress has been made in the deflation process, accruing testimony constantly cropR out. pointing conclu sively to incompletlon of the liquida tion. A forcible icminder of this fact Is ever presented in the dividend re ductions and omissions and the charging off of tremendous inventory losses. It is true much of this, from n mnrkt relative measurement, has been dis counted, but its presence naturally serves to stunt the growth of the slowly returning confidence. TRADING IN LOCAL STOCKS COLORLESS Dividend Deflation a Retard ing Influence in the Con structive Program Trading in the local stocks In today's abbreviated session was generally col orless. Most of the transactions were on a very small scale and In a large part entirely perfunctory. Price move ment was confined within narrow frac tional limits. 1'nited das Improvement was an outstanding feature, mnktnir n further recovery to 37T6 or within nn eighth of the top price of the yenr, and 1 points above the low point made, on Wednesday. Smnll sales nf Keystone Telephone were made at 10 equal to the year's bent figure. The company will put Its new automatic Bystcm in operation tonight. Fow odd lots of Electric Storage Battery were taken at 1114, while American Store lost . Pennsylvania Railroad wsr firmer. Philadelphia Electric issues were aleo better sustained. Nothing of sufficient Influence has been found nor is there anything In prospective to break the protracted leth argy of the local market. The week's happening were without particular sig nlncance except to emphasize the reluc tance of the local trading contingent to adopt an nggressive portion until changes in the fundamental nnd eco nomic situation arc more definite The NEW YORK STOCK EXCHANGE TRANSACTIONS dsie too 300 I0J 1(1 0 .11) .too r.oo ion .too loo Oil 3.309 COil 9)0 too 100 1 0.1 .100 IBJO .100 .) 190 t.100 300 i;oj Ann 3100 .100 100 30000 110) 000 3)0 4J00 1.100 too 400 t:oo 10.100 3.190 4401 100 2 100 .1300 100 100 .100 aoo 310 3000 1110 ton 11)0 100 .100 11010 lion .130 too 300 100 1030 100 100 1(100 000 010 100 4 00 2.100 100 100 700 100 . 700 1)0 400 1.100 2 30)0 .100 (100 ton 400 u on 1)0 1700 100 000 tinji) 300 700 11000 100 800 3300 100 303 ion .100 100 390 300 A00 100 1.100 inoo 300 1)0 1000 fill J 100 1300 100 too 100 700 3S)0 900 13U0 300 33)0 300 T'JtAl Div. In t lUch . W . 48V4 . 53 W Advance ruimoly ... fl Advance Itumely pf. 4 Air ltcrtlictlon AJix Ituht.er . Alnslt.i Mold Minis. . Alaska Juneau a M. Allied Chem ft Dye.. 4 AlllH-Clmlmcrs . . .. 7 Allla-Chnlniers pf .. 8 Am Agrlo Clem . Am rjeet Sugar Am Bosch Magneto.. Am can 13 Am Car ft Fdy 4 Am Chicle. . Am Drug Syn . . . . Am Hide leather . Am Hide & Leather pf MV4 Am tnternat Corp... 4M4 1 Am-La trance T;ng. Am Locomotive . . . Am J.ocomotlvi- pf. S Am Linseed 1 Am Linseed pf. . .. Am Safety Razor. . Am Ship ft Com. . . Am Smolt ft Ref. t'4 4 Mi snh 17 47 SB'. 4.1 ii 30 ' 137 3.1 00 us to )!4 103 Vz 30 Ji 13 li H lOJi 41 8 Am Steel Foundries. . 30' ? Am Sugar Ttef 0t 8 Am Sumatrn tt 0 Am Tel ft Tel 10Kj 13 Am Tobacco 1J3H 12 Am Tobacco n 131 7 Am Woolen W .. Anaconda Copper .... 43 4 Af-so Dry Goods SI 6 Ateh Top & Sante Fs 8tH . . Atlantic Fruit W Atl Gulf ft W I S S.. 40 7 Baldwin Locomotive.. M',i .. Baltimore & Ohio 40H .0 liarnesdale fln-s V. . . 3.114 . Batopllns Mlnlne . . 54 8 Bethlehem SteM B... !"i . . Brklyn R T ctfs of dep .. Butte Copper & Ztno. ' .. Cnddo Centrnl O ft It. i'V 2 Cnl Zinc ft Lead H fl California Packing .. 00, .. California Petroleum . 40 in Canadian Pacific ....UAli 4 Chesapeake ft Ohio.. 3 . . Central Leather 40V' 7 Central Leather pf.. 77 Ji Cerrode-Pnsco 23S 10 Chnndlcr Motors .... 0 .. Chicago Mil ft St P.. 37 & .. Chi ft E III pf ctfs... 114 .. Chicago ft Gt Wen.. ' 5 Chicago Northwestern CO 7 Chi ft Northwestern ptMItt .. Chi It I ft Pac S3' 6 Chi R U Pac 5 pf B0 7 Chi It I ft Pao 7 pf 77 .. Chllo Copper 13H .. Chlno Copper 3014 .. Coca-Cola 39?j . . Col & Southern 3714, 8 Coluni Gas ft Bleo... MH .. Col Graphophono ... 71-4 7 Col Grnphophone pf . . 30 .. Cotnput Tab Reo rts. 40 7 Consolidated Gas ... S0H .. Consolidated Textiles. 1914 7 Continental Can 4H1 .. Continental Candy .. l'A 4 Corn Products Ref. . . 71 .30 Cosden & Co 3H 8 Crucible Steel 79 4 Cuban Amer Sugar.. 31 .. Cuban Cane Sugar... 30 1 Davison Chemical ... 31 10 Del Lack & Western.. 340 .. Denver ft Rio Gr pf. 114 1 E"omo Mlnea 1934 8 Endlcott-Johnson .... M .. Erie Ufa .. Erie 1st pr 20i'2 8 Famous Players L... "Oft s Famous Players pf... so .. Fisk Rubber 184 .. General Asphalt 7114 8 General Asphalt pf,.108? 8 General Klectrio ....1314 1 General Motors 13 7 Gen Motors deb ".. 70(4 0 Goodrich B V 3?4 .. Granb Consol M & M 34 H .. Gray Davis J3 7 Great Northern -pf. .. 7014 4 Gt Nor Ore ctfs 30 .. Gulf Mobile A Nor... 8!S .. Gulf State Steel 4114 . . Homestake Mining . , 80 .. Houston Oil JStt 1 Hupp Motor Car 131a .00 Indian Refining Co.. 9H CO Indiahoma Ref 0 .. Inspiration Con Cop. 30Jj .. Interb Con Corp.... 44 . . Internal Agrlcul 39 7 Int Harvester new... 8014 7 Int Harv new pf ...102?, 0 Int Mer Marine pf... Bi'-S .. Internat Motortruck.. SOJi . . international Nlckol . 18 . . International Paper .. 88 0 Inter Paper pf stpd.. 73? . . Invincible Oil Corp... 1BH .. Island Creek coal 8014 . . Island Oil Jewel Tea "i. 1OW 17"i 4Hj sen 33'-, H 114 48 3014 7014 47 3R 48V4 30 VlMl 31 OH lt4 S3 14 47H oi 10314 ?m 7314 0'4 im 4i n 30 91 IH ' 4 oim 133 131 7fil4 41 H 31 815 H 37 '4 ss 30 4 3814 ? 30 1 nji 814 17 81-4 80 4S'-2 111'', t,3 30 77 Jb 3814 63 84 3514 114 Mn f.l'i tnti4 31 '-j K3M 77 13'4 28J4 38 '4 30 SO 14 30 40?4 89 !' 47W U4 73 3.1 77'4 33 H 1054 31 33s I 1014 M!4 13 H 2814 7tl2 89 1CU (10 J, 10SH 130H 13', H14 3 7 J 34 H 1314 70 30 914 0U (in 7814 1314 0 30Sj 4 .10 88 J4 103 H S414 3(l?4 1.H4 to '4 73 18 bo y, SJ4 834 Toi1y' N' Clo Che. 1714 49'4-" 3814 3?54- l'l 4S14 -3014 - 1814 - 47 S9 1 474 -3014 137 3.1 - H itn- S31i 47i- n?4 sn?4 - 10.114 - t4 Vi !4 "14 t'4 tH 54 IV '4 54 54 V ' 4 1.4 niv. Snln tn t 1.1)0 3110 300 1390 810 400 too fl Lackawanna Steel Leo Rubber Tire. ltlch Knnsaa City Southern 2K 4 Kelly-Sprlngfleld Tire. 48 . Kelsey Wheel H . Kenncoott Copper ... 33 Keystone T ft n 1814 so 37 H HH 1154 80 18 SM 854 89 14 .148H . 5.1 Jj . 114 . 28 14 1334 1030 3. SO Lrllleh Vallnv 1000 2 fjpwft Co ton 1 Loft Candy 100 4 Mnckay Co pf too 2 Marlln-Parry J 200 , . Maxwell Motor 300 . . Maxwell Motor 1st pf . 300 8 May Dent Store 33.10) 12 Mexican Petroleum 000 2 Miami Copper t.100 l.on Middle States Corp. 1 354 54 54 J4 H !4 154 H 'A 14 H l'-4 i.i 14 54 Hi H '-4 H U 54 114 54 1 y H 54 H -to no 14 1.114 f54 1054- 43 -30 -91 no 108H- 12314 131 - 73H 43 34 4 hlH- 8 my - 81 -39H-3814 f 014 nj - 814 1714 A14 f.n 4014 1UH- f.1 "r 39 77'4 3914 08 -2714 1A ro ini v .11 4 4 r..l?4 -77 12'4 20 -29'4 -30 -804- 7 30 40J4 4 19 -19 14 -48 -- i!4f 731,- 3.1 1-4 - 7814 4 33 4 1I4 -31 340 114 1914 -II4H-1314 -89 1094 .. 70H - a, 10SH- .in 13oh - h 13 "14 -.10 - 91-4-4014-C0 7714-13H- 04- n 30P-j 4 St! .19 00 -103,- 8414 .1014 18-60',5-73 -I9H 0014 7H 4 "X- 34 309 .. Mldvale Steel 300 . Minn ft St Louis.. 100 7 Minn St P ft S St Me 70 ion .. Mo Kansas ft Texas.. 3J4 30n .. Mo Kan ft Tex pf . . . . 4 54 3100 .. Missouri Pacific 3194 1100 ., Missouri Pacific pf. .. 41 100 .. Montgomery Ward .. 21 100 . . Nash,. Chat. & St. L. 100 lt-0 a Nat Enam ft Stamp.. ASM 100 7 National Lead pf.,.,103 100 . , Nat R R of Mex 2d pf 54 300 ,. Nev Con Copper 1354 300 fl N O Tex ft Mox 87 100 g New York Central... 1014 200 2.80 New York Pock 800 400 AOO too 34 . . New York N H ft H. . 19 7 Northern Paclflo .... 73H 40 Okla Prod ft Ref 114 Ontario Silver Mining 514 200 2 Omhoum Circuit 100 8 otls Elovntor 200 2 Owens Bottling . . . 300 . , Paclflo Devel Corp. . . 4500 ,. raclfto Oil wl 3.100 Pan-Amor Petrol .., 303 o Pan-Amer Si 410 3 Pennsylvania U R..., 800 .. pfnn Seaboard Steel, 100 7 Penny .T C pf 1200 .. Peoples Gas Chicago., 00 . . Pere Marquette 800 .. Phillips Pet 3S0O .. PJerce-Arrow Motor., 400 s Plerco-Arrow pf , , . , 400 .. pierce Oil , 300 ,, Pittsburgh 4 W Va., 100 0 ntta Coal , 100 4 Pub Serv Corn of N J ON 14 300 n PunU Alegre Sugar.. 4114 800 4 Pure Oil 84 800 .. Ray con Copper 14 '4 1800 4 Reading 7314 .100 Reading 1st pf 48 230 .. Remington Typewriter 3834 3800 fl Republic Iron ft Steel. A0J4 100 7 Republlo Iron ft Stl pf 00 1100 B.20 Royal Dutch N Y.... 834 800 .. st Louis San Fran... 3314 300 .. St Louis Southwest.. 381 Santa Cecolla Sugar.. 3 St Louis Southwest pf 3714 Saxon Motor 814 Seaboard Air Line... C14 Seaboard Air Line pf. 10(4 2854 .148 , 49 , 184 39K . 8N . 0IJ4 3814 10 H 90 A3 3154 30 31J4 7134 1014 2014 034 54' 314 54 ' 4 I 54 54 ' 14 1 114 I 1 114 a; 54 154 54 h 141 hi ! 7 t too AOO 200 100 300 9100 (ion 300 0100 1300 lion too 330 200 ion 100 32300 ion 100 .1000 f.700 10700 3800 100 3300 I3g0 1400 2100 ion 100 7800 ion 1300 400 300 6930 300 loo liHOD 3on 700 3000 AOO 400 '300 AOO 300 300 300 AOO 330 300 800 100 el, 305.000 har. compared with tS,2(H shares jmUnrdiiy. ., Sears-Roebuck fll',4 .. Seneca Coo Corp 17 54 .74 Shell Transport 14714 .. Sinclair Oil 3714 4 Southern Paclflo .... 7XJ4 .. Southern Rail 3114 0 Standard Oil of X J.. 181 7 Stand OH of N J pf..l014 7 Steel Tube pf '. . . 78 14 3 Stewart Warner ap.. 294 . . Stromberg Carb .... 37J4 7 Studebaker 7014 1 Submarine Boat Corp 8?4 0 Superior Steel ,.... 43 5 Texas Co 40 .. Texas Co rts 2)4 .. Texas ft Paclflo 30?4 1 Texas ft Pac C ft 0.. 2814 10 TIdowater Oil 174 fl Tobacco Products ... 88 34 .. Trans Con Oil 1134 8 Union Bag ft Papur. . 7A .. Union Oil 34J4 10 Union Paclflo 11014 8 United Fruit 11014 3 United Retail moron. B0J4 .. U S C I P ft Fdy 1KH 8 U S lnd Alcohol OH ..Us Food Products.. 3114 ..US Realty & Imp... A7 8 U S Rubber 7.114 8 U S Rubber 1st pf... 10114 ..US Smelt ft Ref 34 BUS Steel S.I 1 U S Steel pf 109 4 Utah Copper 8GI4 .. Vanadium Corp 8434 .. Vlvaudou Ino 3 .. Wabash pf A 334 .. Western Maryland ., lo54 .. Western Paclflo .... 38J4 7 Western Union Tel...814 .. Wheeling & L E 10 .. Wheeling ft L E pf.. 17)4 4 White Motor 40 .. White Oil Corp 1414 .. Wlllys-Overland 8H fi Wilson ft Co 4114 8 Wool worth F W 113J4 Thus far this wk, 0,317. Him). 284 44)4 4H 21 y 4K 27 S3 34 17 1154 88 18 tu 14 8)4 ns54 3814 134 38)4 13 78 254 J4 31 40 31 100 KH 103 854 12 !4 80 5054 34 18)4 .3)4 354 i 38 143 49 1834 3HH 6834 81 3.1 I0H 90 At4 31)4 30 3114 ?054 1054 39 03W 0814 41 .14 1414 7134 4A14 3.1)4 8S34 10 ca 23)4 2854 3 37 AH 8)4 10!. 7H4 103i 47 54 2034 ?0'4 2154 ISO 10814 7HJ4 29 i 3) 7134 H 34 43 3834 3 34J4 28 1 73 AA34 1134 7Ui 2314 11914 11)14 80 1N4 6714 2114 SO 14 7314 101 31 82)4 109 AS 34 854 22J-4 10)4 284 8954 10 17 40 1454 H 41 11334 Today'" Net CJom Ch. 2CJ4- 54 4)4- ft 4H- 3ft H V 18)44. V 8014 27 13 - H ny v ' ft 1154 4- V A8 1 ft A34 54 854- H MV - W 148)4- 54 3.154- 14 - )4 28)4 4- J4 1334 J4 783 254- V 454- .H 31344 H 40 - J4 31-1 100 8834- t4 103-8 8)4- 54 1354 n - m 70)4 - 34 34 1H54-C54 73H 54 3)4 .. A 54- ft 3A34- 34 143 - V 49 14 !A?4 .. 38J4- 34 8834 ni 38-54 10344- 54 902 AlH 3154 4- 54 36 - 1J4 31)4- ?4 7054- 154 10)4- 54 29)4- H 03J4 ft 88J4 54 41 - ft 34-)4 1414 .. 72 .."1 48)4- H 3A)4- )4 S9 - 14 10 fls - 54 2354- 54 2814 3-54 37-34 s4- 54 fl)4 .. 10)4- i 7814- 214 17)4- 54 47)4 . 20 - 54 78'4- 14 2134 ISO - 1 108)4 .. 7814 i 14 3934 - 14 3794- 54 78-34 H5 4 ft 42 30J4 - 'A 2 28 1J4 2854 .. 172 - 1)4 8H- 34 11 H- ft 7A 3)4 2314- Vl 11054 110)4 ft AD - )4 18H4- - 0734- 54 21 54 - 14 A7 7334- 94 101 .14 8334- )4 100 yt AA - 1 34 - (4 834- ft 22)4- 14 1054- )4 28)4 - ft 89)4 .. 10 - 5,4 17 - 14 40 - 14 14)4 .. 834 ft 4154 34 11334- 154 KtAUINli mm REACT ON CURB Issue Drops More Than Point When Demand Subsides. Oils Quiet New York, Mny 14. The market on the Ilroatl Street Curb continued to show n waiting disposition, business being small in volume and fluctuations were even narrower than bad prevailed (or some time past. There was no Mo cial pressure, however, nnd taken alto gether the market showed n steady tone with the offerings on declinea so small ns to be n matter of comment. Reading rights, which were In such vigorous demand yesterday, were ne glected in the two hours trading, a trilling amount of business being trans acted at 10, n reaction of over one point from yesterday's blgh P"6.0, Ilurnnt Motors wn8 unchanged at -0j. Intercontinental Rubber was In excep- Hnnnllv rrnnil ilnmntwl nrlllnff at. 12. A Kiile n'f ro1nmhln Kmerald was mndc at 'J. Car Light was traded in at 2 nnd 2U. Swccta Co. nnd United Retail Candy were unchanged In their trailing nnfdtfnn. rrt.n.1tn tn InrlAnanrlAnf nlla. UHS nlSO quiet nnd those Issues showed little change in prices except Arkansas ni unil (las, which declined to 131?!. Carlb Syndicate, sold at 8 to "aj. Simins Petroleum sold at 10 to IWJ. INDtlflTKLYLH HlBh Low l.t Acmo Packlnx Atnrr lath,r Auto Fuel Car I.lRht Columbia Kmerald ... Durant .Motor, Kmplre l'ool IMrr llubber Iteadlnc right, Stand Clap A. Rlec . . Stand Claa t Birr pf. Trlaturld Film U s Hhlp Corp V 8 Steam United Troflt Sharlni . KT,vr.nn OILS Antclo-Amer Oil 10V Stand Oil of Indiana 3 3 3S 13 13H 1JH k 'k 4k 2 2 30'4 20'fl 2)!f 1'4 I 4'4 13 12 12. m ton ;o.y 12V 12J4 12 3.114 3SH 3W ? I IV? 1 1"? NEW YORK BOND SALES fSammary of Individual Transactlorm on New York Exchani 70. 1MBPKM)KNT OII.H Alllxl Oil , Arkansas Nat Oaa ... l)oon Oil Koaton Wyomlnu . . Carlb Syndicate . . . . Cltlca Serv "IV etfa Creolo Hynd Denny Oil Klk Uaaln Pet Knslneers Pntrol Federal Oil Olsnrock Oil Hudson Oil Inter Petrol Keton rtanger .... Maracalbo Oil Meileo Oil .. ., Mountain rroduetn . . National Oil Omar Oil Pennok Oil Bait Creek Prod . . . fait Creek Con Slmma rl Pkelly Oil Tezon I'n Texan Oil t'nlted novnltv Victoria Oil (new) MISIXIi Alaskl-Hr Columbia .. .. Amer Tin and Tunic Atlanta ... Month Ilostnn & Mont Calcd Mining Calumet : Jcroma . . Candelarla M (rle Silver Crosaon Hold t'rewent McNamani Dolores Kiiprranz . Eureka Croenu, . . . . KurcLa Holly Gold Con, Hold Devel .... Goldfl'ld Flnrenco .. Gold Kownna Gold Silver Pick . . . Gold Zone Great Hend HrulH Mining Hoclu. Dll1e Iron DIoHom Jumbo Extension ... Knox Divide McNamaro MHish Mtnlnir Mother Lode (3 L, T. Mother Ix1 (now) .. National Tin in -n 104 70 0014 noi 00', un 100 00 "k 00H on 14 boh IIIMi 00 A onu ooh 00 H 0114 Klnsdom Nor. way ct Ra 1.. 1.. 1ft. . 1.. 3.. 3.1 1.. n. . A.. 1.. 1.. 3.. 8.. 1.. 3.. ' . . r . H .. 14 . . 1 . . 04 .. h .. a s .. n .. 1 .. 1 .. is .. s . 17 .. 1A . . 30 .. is .. 11s - " .. 13S .. 12S . . 10s .. 5i )) S .. 2S 1 I 02 in an 74 is 12 if. 33 0 IS Commodity Markets LESS COTTON EXPORTED Philadelphia. StocJis COTTON MARKET New York. May 14. The cotton lliaiAt'l lljl'llUI crtvia'ij u- ..w .. vnnce to 1 point decline. There was littlo trf-oil to tho list during tlw first fifteen minutes, orderH being evenly divided. Japanese Interests, who were credited with having bought about 10,000 bale? nf October on yesterday's late break, were thn principal pur chasers thin morning, tnking about 7500 bales of .luly. The South sold hedges and there was further local and Wall rtreet liquidation. Unfavorable European labor nnd po litical news served to offset better do mestic textile reports and unfavorable Southern crop accounts, nnd tho prob able expansion of exports through as sNtiince of War Finance Corporation loans. AftPr , piling up to l'J.STtc for July, or to n not gam of about ." to 8 points, of ferings merensed, inlluenced by the easier tone of stock, and prices ro nited to the Homing level of I'ridm Foreign demnnd nppeareil to be filled for the moment. Hitti Low ' 'on 12 42 12 2K I2 .1" 12. S3 12 H7 12 71CT3 is u i :: 13 in 13 M 13 n 13 70 U 02 13 U2 HlKh low Close in Am Strs.. 574 R7-i .r)7"i m iMecHior.uj-tt uiVj 111 or. v-o.. ti in in in 2.1 Kpv Tfin in in 21fi Lako Sup (hi 1HH iuu ien vni.. mm b lot) i'a it u.. .irVi year, the Census Uurcau an-1 95 Philu Elec 22 2U &T V :oda.y- , . ,. on I 34'r 'Jo I'ref.. 27 208? 27 4- H on hand April 30 in consum- . 3015 (in :ptfi onifi oniZ oni I'r i ,o, ir,on 10 11 3 1 1.1 M 13 ftO'13 01 H 78 13 n .127 1.1 .467 13 7 111 02903 market, of course, was more or less ... , lt , , . . ' r"" i Hilt" .iii KP.nsitivn to the mercurial Hinngch of'Msy. 12.40 1230 New Tork stocks, but this nnU re- 'uiy u 77 12 ko fleeted tho titnl lack of initiative from VrL ft local viewpoint. ,jBn An additional restraining influence Is ' i:r. ..' ' ,.J V1 " stipplicd In what mny be termed divi- -Hid' dend uncertainties. The very unplens- nnt developments attending the dividend roAiiM mark ft changes in the cases of Pennsylvania GRAIN MARKET Railroad, Vnlted fins Improvement. I Chicago. May 14. Wheat started Southern Hallway preferred and others I with Mny l'.je to 2i4c bwer and July lias raised quite n good deal of nppie- l'e to IVjc off. Trade was active nnd liension, whether warranted or nnt. as 1 mixed witli general imnni, scion house to the stability of the dividends of muny selling nt the Hurt, followed bv buying timer concerns wnicti, like thne named. ' ny lioies who r.iiHirrn cunnccnont aim considered Invulnerable. It I bv n lnral profesMionnl. The pressure were alwavs cons Is recognirnl the growing ueceshity of Keeping uistrioution wmiin earning iu paclty and also tho necessity to conserve oil available rcsourees to meet corporate requirements, may influence a consid erable number of changes iu dividend policies. Trade revival has. in n gen eral sense, proven disappointing, but with the situation so much better iu hand and with the rigid enforcement of retrenchments, there is still hope con ditions may thange during the last bait of the current year us to Insure the maintenance of imin. dividends now nubjeet tn doubt. Meantime, funda mentals are improving as tapldly ns could bo legitimately expeited iu view tu .ell wiih li no menris ns aggressive ns hud leen eipeeted. Receipts inspected yesterday were fort) -nve cars ; Inst year four cars. The cash maiket "its strong yester day, hs most of th offerings cleared be fore the break rnme in futures. Do inestii lpnm:id was fair and the sta board reported 100,000 bii"liels worked for export late Thursdav Weother re ports up to 7 P. M. last night showed further drops in temperatures, but none of the reporting Ktations in the winter wheat belt showed below freezing. Corn started 3,. (,, l:jr. lowpr for July nnd i-jv tn nie off for September. Trade was nnlj moderate, ulth loenls of the suddenness of the (onmicrcial nnd the most insisteni .pliers C oinniissjon credit collapse, the more hopeful sign houses were on both sides being the rapid acceptance of labor of the changed economic conditions. United Statos Treasury Certificates Int. itaiurlnc tat ui ftU June 10, 1021 fl June IS. 1921 SU July IS. 1021 . Auit. 1, 1021 BH Uept, 10, 1021. i'i HPt. IS, 1821 . t84 Oct IB. insrt ' Oct. 1ft. 1021 0 Dm, is, 1021 Hid Aeked Vleld 100 1-.12 100 3-82 i 2.1 100e. 100 S-32 4.U0 100 1-32 inou 4. An in(i'-4 icnt; (13 ino ion 3.32 .1 lo 100 3.10 10(1 A, A 00 100 1.32 1004 0.1,1 100 8-32 100 7-32 0 1.1 KID A 100 A 0 211 tt Mar. 15. 1022 tOOA 10DA B 0.1 feiaiupi iruni iiu.iiin iu.i.i utc,i, nur rnmant lnpotn. ... rtAccepiaoie ror pwratni 01 pntunw . KM Mr - ..,... I hits titurti'd ai' to :l(e lower for J11K and ly to V' off for September. Kast ern shippers bought on Ihe decline. April Total 319,933 Bales, Against 1 546,125 Same Month Last Year i Wjwhington, .May 14. Cotton con-, sumed during April amounted to 40S,- J 8S2 bales of lint nnd 48.000 bales of llutcrs, compared with 000.014 bales 1 t 1. ...! nf f(k? l,n1A nt 1lnla.u In' i nut uufl ,i.,.it'i UBun wk ...... ... April last year nounced today Cotton on hi inc establishment of lint nnd 212.815 balea of llnters. cornpnred with 1,811,527 bales of lint and 288,842 boles of Unteraa yenr ago; and In public storage and nt compresses B,028,m bales of lint and .102. 40 S bales of llnters. conrDared with 2,078,- 158 bales of lint and .105.120 bales of J ..;" iVoVk 5.oey.c TgJUSKI uiiierB a year ugu. Imports during April were 18,731 bales compared with 00,357 in April last year. Exports during April were 810,083 bales of lint and 4748 bales "f llnters, compared with 540,125 bnles of lint and 0158 bales of llnters in April last year. Cotton spindles active during April numbered 32,535,725. compared with 31,358,008 in April last year. Net chxe. 4- V 10 4- Sk OVi-4- V, B4- 12 17 1 17 23 S .14 .V, lvt IS 1 I'i 12 11 4 Nlulselnic North HLar ophir Bllver Ilex Conn Rocheeter Mlnea . . . fan Tny .. .. Silver Kintr uivian . Bouth Am I . O .T S Sllwr Tart A Hucceea Mln 3 Tonopah liolmont IS Tonopah I'aah Hoy ...... 0 Tonopah Dlvlilo 1' Ton'ipah Uitenalnn XVi Tonnpah-Jli.i Hutler 10 Tnnopah Midway 10 Tcmopah Mln i Tonopah Mlzpnh Tanonah Montana ....... 0 Tonopah Rescue Kulu .... 22 U 3 Cont , United Kaatern . .... Victory Weat End Con White Cap, . . . Wllbert Yukon GoM ., 2S t l' 7 13t 01 ' .1 s 0 1 1 1M. A 17 1 20 m ns 2U -S 13 124 0 r.'i s 2V. '4 A A 1 t 62 10 W 3S 71 .1'' 2; Ml 'A 0 17 4A 17 1 17 24 8 34 .14 A h n 4 ! ;- 1 A 14 10 IB 8 (I "a 2 A 4 IA 4 4 4 1 7 131 14 04 ' 28H 3 S 0 1 IS 5 17 IA. 20 IS 'if! ft i.ii 12J 0'i BU V s lOM3 A ,A 1 02 1(1 U 3S 74 14 12 2'i B2 IA s 3.1 I 5 18 2 414 12 17 17 2,1 8 34 .14 Hi 4M 4 1 12 fl 4 O 3A IS 6 s 14 in 10 14 n 0 "A 2A 4 4 1'4 (8ALK8 IN ttOOO Am S A tl B City Paris 0 1 2 00; 1 704 1 084 1 0Tt Amn T A T ft, 84 084 1...... !", 1 .... 8SJ 2 084 1 ... , lS 1 S2i 2 084 1 U0M Amn T A T Ha 1 08U 1 tlS K ABU B 08'4 1 004 0 08i IS.... B8.13 2 004 I 08S 1 ASS 2 004 0 (eale) OSS 1... . A84 8 AHS .i . ... oavi 3 oss r nn4 4 A84 City Tokyo 1i 1 004 I 084 1 024 K Hcli'm ret. Ann Arbor 4, City Zurich ss 1 v , . . stv n nsi 1 A04i Ars IleP'C S, 2.... ASH 1 BOS 1 70 2 08i B 004 A T S Fb J 2 .... 00 3 l'!'. 1 .. . Oflli 2 00 4 .... 001, A T M Ke 4 B .... 0Si 2 004 i 7: a oss 2.. .. nos i . .. 70 i oo4 a.. .. 004 1 ... 70; CPd Cln Chi 4. JV. .. !"' A Coaat 1. 7a 8t I. im 4, 1 00 4 !.... 100S ft .... 074 ft 0U 1 . . 100S 1.. .. 0" Klnudom Uon- Atl'r Fruit 7 CI'd Cln Chi A mark cl s 4..., .12 811.44s 2 52 1 77 Atl lte ct U4 Colo A Ko'n 4 1 . . 004 2 81 1 00S Cona'd tlaa 7 3 00?. 1 ... 1014 1 .... AO'i Cuban A H s nalt A Ohio cv 2 ... 1014 t 084 1 ... mis 1.. . 0RS ft.... 1014 1 00 3 . . 101 S II it Ohio 34 2 . 1 ni i 1 S24 2. . 1014 1 82 S(aale) 1014 IUU A Onlu 4, 3(ale) 101 S 3 .... 08 2(eae) 101S 2 074 2(ale) 101 C'k A Ohio B, B ... 1014 2 714 Cubali C 8 c 1 .... 714 1 ' 1 .... 714 1 "i 1( sale) 71 S a 844 Halt A Ohio 0s 1... 84 4 f, 09 Cuba Hd Co B t 00 1 70 11 A O r t. E 1 .... 70 U A WVi la Del A Hud rv 1 .... 0BS B .... R2U I1AO 8 W 34 Denmark Con 1 704 ct A 8s 11 A O Tol 4s 20 POT. t 044 1 . .. 00. 1 B34 1 00 4 Bell T 7a rcla 1 .... 094 3.. . 102i 1 P0S 2.... 1024 1 .... 00 4 2.... 102; 8. ... P0'4 t.... 1 02 S Denmark Con Heth Sloel tat ct II 8a 4 ... on 7. .onu Bth S 3a '30 Oet Kdl fts '40 1... . 78 B . 7fl, llkn Kdl Co ft, Dlam'd M 7 4 1 80 ft.... t02 Dkn !l T ct ft Kaale) 102i 1 204 4(ale) 1024 Hkyn U K 1st Do Canada '21 2. .. 04 1. lOn'i Hu,h nid'K B, 7 B$4 5 . . 74 W Do Canada '20 Bush Tcr'l rn 2 ...PIS 1 70 4 1 PI'i 1 .... 714 Du4 Ulht O Canadian N 7s 3 80 4 1.... 101 'i D Do Nemours 4 . 101S l'owd 04s wl IB ... 101 1 1"04 s 101 1 424 1.... 101U Crla t'.enl Men Canada 8'n ft, 2 42 1 . . 854 B ... 424 Carolina Cinch 1 424 A Ohio .1, 1 . 424 2 71 Erie It n cv B Ctl Leather fts 3 .... 304 4 80S 1 . MS Ctl PaoiOc 1st Erie II n cv n 1 73 2 44 Cerro de. fasco Gene'l Hlea Bs Coppt 8s 1 80 1.... 1"P4 a Sfl 1 100 4 I SO 1 ... 1004 rjenel Klec fli B ... 1004 Ksale) ino'i 1.... 109 2.... 100 0.... 1084 8- I?" Ch,'k A O rv Goodyear 1 A t . S3 4 Ruub H wl r t, n rv 44, B.... 10t a 70S 1ft.... 10t 1 70S 1.... 102' 1 704 !" ll n 70S I . '"' r-hl t, Alton 8, 3.. .. 101 1 44 4 1 ... 1014 1 444 ft .. 101 Oil it, Alt 34a 10.... InOS 1 ... 3B4 Qove't F H 8s 2 .... 3ftS Cbl B A U 4s St ti I'n Mt A 1... 4... 1... 30... 20... It... 18... 3 .. 13... I... 27... 1... I. 00.70 00.70 00.72 PP. 70 00.70 00.70 00 70 00 00 00 70 00.70 00 70 P0 74 P0 88 I'N l-H. 37 37H S2 82$ 100 Tono llel. 1 3oTi 1)0 I... 37 420tlJS8teel 82 C West Jer & S.... 20- 20 20 tNei changrmaJe by comparison with last Tnul els 2.100 shares, enmparml with .A'?' 1i.t y-Btellu. Thus far this eek. 30 POH Hhar, Vhii Oi,n tllh Ijiw Closi Ma I 41 1 14 1 104 I 40'4 Julv 114 I 1.14 1 12S 1 IB'i rnrn Julv .. . 2' 024 01 S 034 Hciiiember . . . HIS Ml US', OIS Outs July 30 304 8S.4 ?0'i Heriemher tn' mS 10S 4DS Pork May ... . . 17.00 Jul . 17 2.1 Laid JLly .... 0 0.1 H Oft O SO 0 SO Hentemb'r .... 10 27 10 27 10.1.1 10 IS Bib, July ...10.02 10 02 O.BB 10,0(1 September . . 10.33 10,82 10.23 10,23 Reserve Banks' Discount Rates riffitai m.Hianntint rata at lha twelve Ked erl Reserve baflk, are an follows rreaa uin. vum hilt. etf. Bonds. leaner Accept. Helton ....... N York ..... .. B4 II. rhllaOelphla . ' J4 ,;4 Cleveland d 2 ! !! Richmond .... " " Atlanta 0 " " I'hlcagn 'i st Louli 8 J4 ft4 Minneapolis . . 4 J4 Konsaa City . 54 'j J4 Dal a, o " 1 '. San Kranolsco 6 ' Discount raie correoyuuuB wiu htii rat borne by oertincatei pledged as collat. eral. with minimum of B,Pr cent In the ca of Kum City and B4 per cent In the cain nt Philadelphia. Raw Sugar Firm at 4.89 Cents v vir mv IA. The raw sugar mar ket continues qulot but firm on the basin of 4 SO cent, duty paid The Cuban Burar Finance Commltlee yentordav aold to a ew Orleans rnnner in, mm ran uu. ., vinwi .kum.m ii 3ta cnts. cost and frnlcht ahh in 1 50 cents duty paid There were ...1.1 ,!.. . u lnral r.lln.r 30.IHIO bac I'orto rtlco, for prompt li1pmnt at 4 SO renlw elf If auuars nrrl t'fore the , .!,., wnmm ennctlve and ., Iu cent. c I f If sugars arrive after the now duty KO Into rrffot A ncai rcnnnr also lo-m fi i,aa Qnn nnmlniiDii In iort at 04 renin elf At the foreirolnB price, nf r-orto Itlco, It will be een that If (hi. Torlo tllr.in p-ndui ' tome. Into comnotitton with full dulj-piylne snifars thej havo come ad an'ae Imiiorlallona yesterday ere vir tua'lv nil. roniletlnir nf 721 b of Ban nermnuoH r ,nelprnetl t" th" American Susr Itennlnir l nnd about 310 buss Hon HjI sd-ir' ronluned to the trndu The In.'al rttnel market U unch.tna;ed BANK CLEARINGS Bank rlarlnBi nl rommin' nh er ,,.pnd.ng .l.vBlj.i.l to vo.;r )nin Phlla 100,808. 173 J83.1 IB. SI I 03 70S ,12,', tistnn. 40.080 H07 01 003 132 Baltimore 12 AKO.nprt 14 072 010 Chlao 7li.ftl..2 N. York 042 H14 047 . . . BAR SILVER Domestic bar Mlverwai uncninited In New Tork today at P0'4C foreign ftO'ie off 4e In London, the prlci waa i lower at 834 d. I'lin.ADKU'lllA IIO.NDM 1000 Liberty 2d 4V4S , 200 Liberty .'id 4Vxfc 1000 Liberty 4th 44b ., 1 50 Liberty 4th 4'4s 2000 Liberty 4th IVis 30000 Vlrtory 48 4.')00 Victory 40Jn 2000 OxinH Trni- New Jersey r 2000 I'ennBylvanln 7h mir.I 87.42 00.00 87.r.2 87.20 87.48 07.00 07.88 0.1 on-T lH Total $43,130. romparnrf with tlOfl.lOU e.-terduv. Thus far this wek. J303.4UO, Allied Packer 6, Amer Agrt t'hem 74 . . Amer Tel tla 1022 Anslo-Amer Oil 74 s Copper Kxport 8s 1028. Coim Oas hs . Goodrich 7". ... tlrand Trunk 04 ... riulf 7i Liggett Myers 0s Llbby McNeil 7, Morris 74 h ... ..... Ohio Cltle, 7, 1022 . ... Bean Hobuck 7, 1023 . . Beneca Copper Hs , Southwest ull 7s .. .. Stan Oil N Y 7s 102B. , Btand Oil N V 7s 1081 Texas Co 7s Btand Oil N T Vacuum 7a KwIbb .14 1 41U no?i 1 nrtiz 40s BI14 07S ' 404 110 .100S 1004 100' .100 on 'I 100 . 100S HlOh KNIS . . 0i 034 034 . , IMS 04S 04S , . Bfl'i 0flJ P0S uit, .. PBi .. 08 nRIt . . B7S . 100 OOS 0BS BBS 0S U 0BH rs II 8 08i B7S llftS 100 100 BOS 004 1024 1025 10,1 1034 1)84 084 1004 lot) 1004 1004 1004 ninvj 004 1024 104 00 1.... 10 1.... 1O0 4 P04 2 OOW 2 PP4 2 BBS 3 P04 1 PBS 3 P04 2 BB4 2 03'. 3 ('04 2. . . PBS 0 Bwttt'd ret, 2.... 104 4 1.... 1044 j.... mis 2 .. 10IS Granbv Con M 8 A P Co 8s 2 88 Gd Trunk rets 1.... 100i 2 100", 01 N H 7s wl I 004 15 .... 004 I 2 P0S 14 ... P04 1014 1014 lnl4 1014 1014 101 101 101 101 101 2 100S King Swd'n fls 1 8,1 2 8ft 4 844 1 84 4 1 844 L 8ft M S 341 n 07 s ft 07 S Lake Shore M F'n 4s '28 1 .... 834 B 834 Lehigh Val 04 1 .... 00 , Lorlllard C ft 84 4 Lou A Nash 4a 2 81 ft SOS Mkt Bt K lata 1 73 t.. . 73 Hex Pel 8" wl 1 084 7 08 2 084 1 084 1 P04 p . . P84 Mid 8 A Or Rs 2 .... 7R4 2 784 3 78S 3 78S 1 784 ft 78S Mln s St b til 1 414 Mo K A T 2nd 7 40', M K A T 4Mj, 1 40 Mo Pacific 4s 3 B44 1 ft44 8. .64 4 0 (sale) B44 Mo Pac 8s '23 3 . . B24 Monfa Pwr ft, 2.. .. SB Nat rtws of St Oet Coupon, 1 .. . 30 Naw Or Tex A Mexico Bs 1 . .. 01 N Y Cnfl 34i 1. ... 004 N T Ccntr'l 4s B 70 N Y Centl s 8n Illy 4, t... . 00i 1 00S 8t I. I.M A 8 n A O dv 41 I..... 0V Bt L A 8 I n) 1 (10 . St L A 8 I" In 1 Mli 1 fill 1 B14 2 BIS 8t I. A 8 Fran Series A B flt'4 St I. A 8 Jr'ran Series B 0 73i B 73S ft 734 St L A 8 rrall Merles C 3 87 S Bt U A 8 Kran tm Ui 7 B04 St I. Swn'n en 1 03!, St I. Sow'n fts 1..... 00 1 ASS St 1' A Kan C 8 L 44s 1 04 11. ... 01 St P'l Minn A Manl'n 4 4a 1 88 b'ao Paulo of Ilrasll et 8s B 07j B 074 1 P74 B 074 2 074 2 074 13 074 2 074 B 07S 2 074 10 074 1 074 S'n llaliwa a 0 83 Hand il On nt Calf rcla l..i 1024 1.... 1424 I.... 1024 4 ... 1024 3....' 102S Third A ni t 314 1 (sale) 31 Tidewater Oil Co cct 04 3 OIK ft BBS 3 .... PBS 2 PS4 Union 1'ao ov 4 1 834 Union Pao 4a 1 804 4 804 1 80S 1 80 Union Pac fls B. ft..'. 2,.. ft... 1... 2. 084 084 OH 08 OR l) K of (1 Hrlt A I'd ,1021 1 1104 1 oo; 2 BOS b...... ooy a obs 1 BOS U K of O llrll I'd 1922 3 07 4 1 UIH 1 H7S 27 0 f. 117 4 UKolO lJrll & I'd 1020 Scab'd A I. aj B 3ft 10 . . . 3,1 .Sinclair O Oil Corp'n 7 4 3.. 1. 1. 1. 3. 1. 1. 1 I 1. 04 044 04 4 044 04 1)3 S 03 S 03 S 03 4 B3 So'n Paclflo td 1 70S 8'n Pao cv 4s 1. ... 70S 1 (sale) 78S 3 (sale) 78 S 1 784 So'n Pacific 6s ft.. .. 87 S'n ltallwi 4i 3 B7S 11.. .. 37 4 2 B74 " 674 2.. B.. 0 . 7.. 2.. B.. 2.. 14.. 01 00 s BOS 004 01 01 1114 Bl 1... ft... 1... 1... 1... ft... r),., 2. . 2... 1... ft... 1... ft,,. 'J... ft... 1... 1... 1.:: 3.T. B.. 63 U r.3 , A3 4 63 4 63 S- 63 tt 634 64 A4 4 64 64 S Bft ft4S B4 4 64 4 Bft 64 S MS 64 64 4 Utah P A I. 6, I....1 704 2 70S 1....V 70S 1 70 4 2....". 70 V C Chein lit 1 'WIS Va C CI 7 4 I .... 034 1 OS 2 03 II .. 03 f Itubb'r 6s 2 784 3 . . 784 I- ltubber 7a 1 084 U S Itub 7 4 2.... 100S a.... 1nn4 2.... 100 2 . ion 1!... 100 II S Sten UKoio nnt A I'd 1037 1.. 2.. 1.. 1.. 1.. 1.. 2.. 1 . 2ft.. 14. KftS 8RS 8ft 4 RftS 86 S 8RS 8ft S 80S 8ft S 8ft V 8 Mexico 44 I... ft... 4... 1.. B.. . 10... 1... 11... 1. 39 4 30 4 30 4 3B4 304 40 41 10 4 404 U B Mexico Ss' 3 634 6 634 0.1 S 06 4 Bft4 BftS OftS PR 4 OftS BftS " ' ' ,r'"-" I " VI -; 7('- Loam . and "DlseounU Show t4 markable Contraction of $106 . j 627,000 Deposits Shrink ' ine input wiriKinR rhOncc In the .-.'I 11 ..,. I "V IIW tin rmitimntiM (iinun i menta of the New York riehrlni 1 ?le Institutions wns the remarkable ?" troetlon of S10il.r.L7 nnn . i"D!B Fi nland deposltK n oo Nliuwrtl n ViJluLVr' of SI 1,0,000. .'n,li"hcav? r ,?k.. in iiBDiiitiM f-oiintrrhnlniicctrtl c noV the Federal Itoaorvn 11....1. .. ' . rlut't .?i02,S00. mnkiiiK the netnnl ... ' over local mmlrJn.cn Z sj .25 .T IJcIrIIh follow: """.-"MHIO, RUAor. rnis week 1 .., m ooo.non.ooo 4 7;JS'JM AVRIlAnr. ThlS Ur.nl, ii'iirrii!:,.- .-m. n-v Loans, etc 4 Oasn In vaults and mem. banks rtesere In mem ber banks nnd reserve banks.. tlescMr In st.it banks and trust companies . , . Heaerve In stale banks nnd trust company depos itories ., C n n,, ,. Net demand de. "M-.OOO R.02,(, "1. 0)2,000 4SI, .ino.iiiin .M2,,j,l 117.311.6.1 0.40.1,000 0.4,, posits Timu Clreuln United posits deducted -iv,3,Sil?:S,.?:ffiJla'su-fe ?d"5?,eadV. "-. nuM J acaucted. 07,724,tKiO ni It,..? ACTtT.M, "W Kx.ess'resene ,. Im.lL ,R,,.'!f Uians, elc ... . 4,(1l' fti-.'n 1 i?.HrW Cash In vaulti '"' os','n' .-'8.OI2.0SJ Westn Md 4s (1 34 Wn raclfla 1st 1 804 West Shore 4i 2 .... 72 W A K MfB 7s 1... ft... 1... 1... 8... 1 .. 2 .. 1... 1... 1 PB'4 004 00 BBS 90S (I IU, PBS BBS PBS PB Wilton Co cv 1 83 Wilson Co 1st 1.. 3.. 4.. 1.. 1.. 1.. 1.. 88 80 8.14 8.1 80 80 8(1 Total. J3. 804,000, compared with 10,660, 000 vesterday. Thus fnr this week, f53,-341,000. HlBh lyuv 'lo Liberty Il's 88.08 88.50 88.0(1 Liberty 2d Is... S7.II0 87. HO 87.30 Liberty 1st 4',s. 87.74 87.00 87.02 Liberty 2d 4V(s.. 87.42 87.40 87.40 Liberty .'Id l',s.. 00.71 00.70 1)0.70 Liberty 4th 4',-,. 87.50 87.42 87.42 Vie Notes as4 8... 117.88 1)7.88 07.88 Vlo Notes 494s... 07.00 07.88 117.88 nnd mem hunt. Ileserve In mem ber banks nnd reservo bunks.. llcsrrvi. In stata banks and trujt compnnles ... Itesern In state banks and trust company depositories Nut demand de' 78.782,(100 .u '.2T5,(I 476,370, fiOO 47O.SM.0i,, 1 B..102.000 8.8,12,000 Philadelphia Markets C T4 A Q II Is 8 . 80 C 11 A 04l 2 . .. B04 12 0(14 1 BOS 1 BBS 1 BOS 10 .... A04 Oil 4 O W 4, 1... . .12 1 .... 624 6 .12 I (sale) R2t 2 . . M 4 Houston A Tex Chlraao Mil Al central n m.P nv IUi I 24 Pfl'i n n- lllud A Man fd 1 07S ""'-s .,., 1 ni. I -Ml ...... nsa. 80 4 RBS 80', 8BS 8B4 8BS 89 4 n Oils. 1 1 Chicago Mil A 1 "B StT fd 4 4" I n8,i 1 oi 1 j 1 Hud A Man In Chlrairo' Mil A 1 39 N V C ; rrts 2 ... 1004 N T A Jer fts 1 8fti,i T 88 N Tk l.inht H A Pwr 4a ft 00 N Yk Llaht II ti Pwr Bs 3 .... 814 2 814 New Y N II A It 4s ot 'BO 4 40S Nla Lck O fts 1 . 804 New Y N II A Hartd 6i 2. ... 04 N Yk Tele 0s 2 BIS 2 .... 02 3 BIS Nth WBTlii 80 80 NEW YORK COFFEE MARKET LIVESTOCK QUOTATIONS Chlntxn. May 14 CATTI.K Heeelpts, 1000 head, Compared with wek nuo llef Iders. she slock. Blockers and feeders 2.1c 10 40c hlRber bulls steady; veal ralvenl 80 lower, top beef aleers for week. 10 7,1 HOOK Ilecelpts, 8000 head Mostly 10t to 16c lower than yesterday's overuse, llgM weights off most, linldorer light weak Ton IS lift bulk. 18.2.18.7.1, plffs. htnaMy to life lcwr: bulk, desirable. 18.BO8.78 SlIKKP Ilecelpts, 7000 lissd. Moatly packers d'rect. supply on uale all Nebraska dippers Kotnh' to vhlpprrs at steady prlre, Cimpnred with wtak am Aged and new croD lambs mostly II to II BO hlchnr; shorn jear Mn?s 2.1c to COo higher: feeder lambs, nom inally steady. Pittsburgh. Pa.. May 14. HOGS Re ceipts. 1.100 head Steady Ilravlei III, hti- Jllil yorrs and pigs, 10. IOW0.60 HltKEP AND LAMJJ8 nerelpt,. 1100 head Steady. Top Bheep. 17.60 top Iambi, ill. 26. CALVES Ilecelpts. 100 head. Steady. Kast Buffalo. N. V., May 14. CATTLE Itecelpts 100 head Htealy Calves n celpts. 00O head. Hfly cents lower slowi IflffiaBO. HCK1S neoaipts. 2400 heal. Fifteen cenls to 2fto higher Heaw 0 2Jffl0 60. mixed. Ill 05CTB. 76, yorkers, light do and pigs 19,7ft WO 15. roug-hs I7.60W7 7ft stsgs. no (fl HHBKI AND I.AMIIB -- Ilecelpts, (Wl) head Lambs 28c higher at 1112 2ft Others unchanced. i;u,t ht. IiuU. III.. May 14 -CATTI.K -Hei-nlpts 330 head. Market for week Steers strong to 23c hUher: other killing clasae.i Mead enl calvio, 20c to fiOc lower, stock ers and feeders steady to atrotiK pons Itecelpts, 4000 head. AciUe ioc to Mo lower.. Ton. 800; bulk, llaht, and medium welnhti. 18,0008 Sft, bulk h-avle, IS 40f 8 00, pifkers lows steady pigs 2.1c owr clearanc eoort. SIIKKP Receipt! none. No trading to. day. Compared to ynX BOI Cllopod lambs and awes 2Be to BOo nlrneri spring lambs, fl to 11.35 idvance. Mav . , June , July . Aug ., Hem . Oct .. Nov . Ifcc . , Jan .. Krb . Mar April . 1 11 Yret. Open HlBh Low Clus close .ft .11 . . . 6 71fl70 ft.M) 5 80 00 5.73 . BB708 0 02 8.07 0.1)1 03 B. nu ll 20&22 fl 00 . 0.80T n.l 0 40 H 3ft a.4BW40 0.27 II ft3.17 II 43 . 6h885 0 7173 fl.,10 0 85 0 fill 0.87'3lK!i 0 7ft S 07008 (1.8ft . 7 10S1.1 70715tO(l-flBB T 171 IB 7.0ft , 7 275J2S 7.1ft FOREIGN EXCHANGE New Vorlt, May 14. The mnrltet for forelRii exehaiiRe wnt, htrong tliU morn iiiK with fiterlini;. franes ntul lire being otioted nt advancen. Around noon the market eontlnued t-teady. Sterling en bles were 4.00'Vi, demand :i.1IO ; French and Relnlan eahles 8..")0. cheeks 8 58; lire cobles .".(M))., cheeks ,r..00, niarkR 1.70Vj. Centrnl Huropean enehnnRes wore ir Tegular. Kutnanian as 1.80; Hulj?av Ion. 141: Greek. .'...W; Austrian, .20; Polnnd. .13: rzeeho-Slornkin. 1 . f3 . The premium on New York iiikIh In Montrenl today was 11 10-10 per cent. The rate of discount in New York on Canadlnn funds was 10 11-10 per cent. YKBTKIUlAY'a FINAL QUOTATIONS Stirling Francs Lire (iullders Demand 3 UPS 8 ft7 ft. 68 30.01 Cabin 4 004 8.(10 3 00 80. 1 TODAY'H OPKNINO QUOTATIONS Hterllng Francs Ure llullders Demand .1004 8.B0 B.flO .... CLOSING QL'OTATIONH HIP irm 44s ft 3Bi. 2 .... 76 I ft .... 3B4 Chlcaeo Mil A 1 3B4 BtP ev Bs , 14 . .. 30 4 1 . 00 3 304 Chi Rallw's fts 6 (salel SOS 1 . . OftS 1 an4 Chicago A Nth 3 30 4 West'n 0'4s 12 ... 304 1 BO'i 1 304 8 00 4 HI Cen'l 4s ChicaKO A Nth 3 .... 70S West'n 7S Intboro R T fd t inns I ftdS 3 ... 100S n nft4 Chi II I A P tu, 1.. .. .10 ' 8 ... 07 I 1 .... 604 2 ..07 1 .. 6(1 4 2 074 I . 604 .Chicago Union 6 60 4 Sta cl 04s 1.... 1024 0 82 t . 1024 B .... 82S l(sale) 102'. 3 82 2.... 1024 1 - Chi A W 1 4s 1 H2S 1 .... 60S lnfl Paper ,n 1 .. . 604 1 82S I . rvt 2 .. 82S 1. . . . 604 Jan iloie't li Chile Cop'r 0s fl .... 84 S ft ... 7ft I 6 8S 1 7.1 ,Jap Gov't 2nd 0B 4 flfl BB4 0B 4 BO'I 004 BBS BBS BP BOS PBS 1. 4. 1 12. 1 1. 1 1 A. 1 N'n PaciOo 4, 2 ... 7ft 1 7ft'4 No'n P Term'l 1.... 104 4 Oregon 3 1, 4i 1 . 704 OrK-Wn R Co Navl Co 4 s r. . . 70s Pac G A 11 fti I 77 S 1 . .. 78 WHEAT Receipts. 37. nil bushels. Mar ket steady. Car lots In export elevator No. 2 red winter. II 01I.B0: No. 2 red winter KarUcky. 11.6201.57. othSr Krades iiuoted hi tho-. following schedule of dis counts; Mixed whent Hi- under red winter. No, 3 wheat 3o under No. 2. No, 4 wheat 7c under No. 2. No. ft wheat lie under No, 2. Kamplo acrordlmr to duality. CORN Receipts. 12.10 buihels. Market lc lower. Car lot,, In export olevator No. 2. 7BW7ft4c. No, 3, 721.4724c; No. I. 704 OATS Receipts. 21, BOO bushels. Market So lower. Car lots u. In location Nn. il white. ft0.104c; No. 3 while. 404B4c; No. 4 white. 4ft440c. FLOUR Receipts, !.(7!.733 lbs. in sucks. Quiet but steady Per HID lbs. packed In 140-lb. Jute sacks Soft winter straight western, 40 7BW7; do, do, nearby. 111. I0G( II 00; hard winter, atralght. 7.75B 8 2.1; do, short patent, IS.ftOi8i8.7ft, sprlnir. first clear, 10.5007; do patents. 8 2.18.75, d-, ahort patent, I0V0.2.1; fancy srrlng nnd city mills patent, famllw brands, lU.ftUfflO. Itjo tlnur. ISiJChO. PROVLSKINS steadily ' held Th quota tions, lleef. in sets, smo((d nnd nlr-drled, 51c: beef, knuckles and tenders, smoked and all -dried, 02c. pork, family, 443; hams, H. t cured. loo, 23U2flc do, skinned, loose. 224 234c. do, do nmokr.1. 214 923Vse, bams, boiled, boneless, 41c, picnic shoulders, H P. cured. Iojv, l.l"; 1I0, smoked, IrV, bel lies, In pickle, loose, 10c; breakfast bacon, 24c; lard. 124 c. 11UTTKR dvll ut lata derllno. Solid packed cr-?amp.-v, Mgh-t-corint; goods, 32fi 34c; cxtrn. 31o. extra Orsts, 20W30o. Ornls, :TiW27c; sruinUs. 22024c. wl crcumerj . choice to fnncj. 33 f 3,1c. fair to good, 2251 B2c; fancv prints Jobblnir at 4143c fair to choice. 83 (r 4 Or. HOGS Steady, but quiet. Quotations Nearby firsts. 244c, current receipts. 24c, westnrn. extra tlrsts, 244c; firsts, 2.14 81 24i inferior lots lower; fanc selected egics Job- binit at ;i4W3.ir. rnir tn irooa at 2Nfir;i;i". t'H?:Kr: Sold slow y at recent Icrlln. Quotations: New York, whole-milk, flats fancy, rresn. i7mi7Vjc; do, common tn lair, iresn, ii''iuc, i.onKnnrns. iresn. nr-j WI74c; sinKlo Daisies. 17W174c; Jobblnsr sales of fancy foods, 202lr. LIVK POlTLTftY Quotations' Fowls, fancy, fat, .IfldJSRc, Inferior .'MMIIftc spritm chickens, broilers, not Leghorns aood qual llv, welKhlnp 14 2 lbs Hiilere, iKiWiii wefghlnc ltH'i lbs. aplrre, I8ft.i2c, sprlnz chickens, I)ghnrns, wflxhlmt lull', lbs apiece. 4n4.1c; roostors, 22 024c, duckt Whits IVkln, 2B&30C, do. mixed colors 2,1 W 28c: plueons, per pair, old, riOWftBc. youia; 404)4ftc. DRF.SHED POULTRY- Quotations: Fowls, fresh-killed dry-Picked, In boxes Welshing 4tfft ll-s. apiece. 384c. weUhlnor 34 lb., 31 WS7c, weighins. 3 lbs . 31031c: fowls, fresh, killed. In bbls . clrv-plcked. welshing 4B.1 lbs, apiece, dry-packed, 374 c wlghlnc I Uft lbs. apiece, lte. parked 37c welshlns 34 lbs 34ff3ltc, weighing 3 Ihs and undet 31 1f3.!c, old roosters. dr.pliked. western 2.1c do, do. southern. 2.'c Cloverseed Toledo, I). a 14 Cloverseed pi tn cash 113 7.1 October $10. December 10 SU Alslke prlmn cash 113.50. August 111. 6(1 OiKiber, II". Thnothv. prlmB cash IPlii 3. 0.1. IB1P. 13 in ili'.'ft anl May 13 1,1 September 13 4.1 October 13.35 I ".MO.Ml TC'inosiis-. . 3'2lHi!)'!!!!o 3'IK-KI-a ncil(M Ar.,i...t . .... 'i. ... ulUu,v n4.n2n.OOO 7if.2Jt.0! COTTON EXPORTS FINANCED War Corporation Advances Fundi .". drcnousing and Distribution 4ia,siiiiifrton, Jln.v 14. Approval rf an iipplieatlon for ntlvnnces of 000? 000 m connection .,, ,hp h j 3 ,," "'!'' forcjjjn ports for wnrehoii,J nnd distr bution. wo8 announced ffl by the War Finance Cornnmilnn V. nlMi nntiouneed $1,000,000 had Wi mlvanced to date iiKnirist cotton alriJ, -AMiric(i. i " iiiNinni ui nnniice ino (i. portntinn of cotton from American In. terior points nnd American tinn nA.. contracts cailins for shipments froi, October to December. Thli llnonrlni of cotton, it u-n.u snlil m-hi i.i t! innintaininK ndequale stockw near lii polntB of consiiinption nnd thereby fi. cilitate buslne.sN. ' ' The distributing points to which (it cotton has been consigned ure Liver pool, 'tinvre. Trieste. (Jcnon. Venict nnd Hreinen. Cotton cnnalrnn 1. Hnvrc. Ihe corporation explained will be distributed to the nenrbv milU. ani also to mills In the interior of Frantt and Alsace-Lorraine ns well as it Switzerland. Cottnn to (he Itallii portH will be distributed tn Italian anl Austrian mills Cotton warehoused in Hremen willbt distributed to O.ccho-Slovnkia, Austria, I'oland ntul htvetien. Bankers Elect New Governors At the ciosinR .meetinR nf the Pliill. delphin Clmpter of the American 1ntt! tute of Itnnkinc for the present nel son, the followinj; Unnrd of tiovernoti wns elected: Norman T. Hayes, Har old W. Scott. M. Major llentt.v. Ilenrj K. Sharp and 10. Ua.vmond Scott. Seventy-two member of the total of 'JOIIO in the local chapter were delegated to attend the national convention In Min neapolis next .liny. i vaudeville en tertainment followed the burner meeting Inst night on the roof of tbl Uellevue-htrntrord. v Standard of Ohio Pays Extra Cleveland, -Mav 1 1. - The Standard Oil C or Ohio has declared an extra dividend o( II a ahare In addition to the resular iuarlHr dividend ot 3 a shari on the common stocl nnlh dividends aro pajable Julv 1 to stock of record May ... DIVIDENDS DECLARED Northern PIP" l.lne Co., wml annuil ( Ift panblo July 1 u ttrck of rccodj .tuns 11 .jC I M Jlarlni' (isiekard Motor Car Co 8a 8 . . OR 2 . . . . 08 ft Bfi' rena & All (Is 2 BO 4 ra R sin mi I . 77 Pa R Rd 0(',s Demand Cables Sterling Kranes Lire Guilders . O.Ofl'i 8 67 fl 00 30.20 t IK) 8 SB 6.02 80 3(1 BUTTER, EGGS AND CHEESE .New York. May 14. - HflTKn steady Recolpts. 1)874 tubs Creamery hloher than nxiras 3014 OSlo creamery, oxtrai (02 core). 30c, do. firili (88 to Bl score). 2iVta 20r. packln slock, current make, No. 2 17o. KOQS -Weak Rrcclnls 3" 83 iMn Fresh snthered oxtru firsts 27fi2Se. do firsts 24H02imc stale, Innivlanla and nearb western hennery whites firsts to ev tras 80034c, state. Pennsylvania and near by western hiinerv browns, extras. 31032c, do, gathered browns and mixed colors, flrsts tn extras 2HO80c, storage packed extra nrsts 28 02Bci do. firsts, 27ti'28c CHEE8K- Irregular Itecelpts. 0007 Iwxes Mst. whole milk, flats, short hld specials, 18019c; do., avsrirj run. 1701714 , tt. whole milk, flats, fresh, speclaii, JOlfffl 174 c, do, averaie run, 101? 18c. 1 . 7ft ! r llsn Hs His 12 3. . 071, I I . 07'. I 4 ot; 7 . 117', I City lierne Ss ft .1 . .. B7' 4 07'. I B7i 1 ... B7W 8,. . B7V, City llord'x us I . . . . ' 64 Vi 1 .... H4 n. ... 84'. 3.. .. 84 Kti 84 Si Stl Mi, 84 S 84 84 1 00 Bft', 00 110 Btl 111', BS', on 0fti nn 84H'penna R It 7s Jap Gove't 4 1 fl 118 (is IIS I, 08 081, 118 Kan C Ft B 4 Cty Chrls'a 8s 1 .... A8', 3 ... 0B 3 . B8t City Cop'n 6V4 ft .... 76't 7 .... 7ft'4 1 7fl 1 78, 1 70 2 ... 7ft", 70 70 Memp 4s 1 . .. flflM, Kan : 4 H Ht 4 . . . . Ml Kan U H fts 1 . 7.1 '4 3 .70 4 K llelgium Us II 2 2 S ft ,1 1 4 I 20 76',, 11 7,1'. 1 7B 2ft T.1V4 1 TBH. 30 I 2 1 2 City Lyons 8 7 .. 84U. 1 .... 84H 4 U nty Man's Cs 1-. . . . I1H 3.,... 83U 1ft mi. HAS BOH Bill, 06 , 00 U BO'. 00H 90 V, Bill oo; K Uelg'm 7,s 18, II... . 1... 100 10 1 BOH , 00 101 . 101 ; ioi, 101s 101 , 101'j 101 , Peoples Clas I. 6 C Co fti 1 73'i 1 . . 73', Peoria & K 1st 1 . 68 Vera Maru U 10 . . fid Phil County cv ft . . 04 4 ft ... 03 1 A3', nits Hteel fts 1 . HO'i Rep Chile rets 1.. .00 3 BO Rep'c f" fts 11 8 81 Rio Grands t W'n elt 4" 1 64 Rock Il'd A A I.oul'a 44, 1 .... 00 a. ,a. m GRAIN PROVISIONS Our Dully Letter Sent on Request Hughes & Dier 1 niiutii iniuru or ir.ide N. . I'roduet' I'.irliiinun rhlladetplila hlmk lliclnings I'lttkliurgli NtorU i:xrhnnKi 1435 Walnut Street Spruce 843 nuce lgoa Philadelphia Members C. S. PATTON & CO. 81) ft CHKflTNUT bT8. BANKERS Sucfesunpt tn fiAII.KIl HTKVI'.NSON Itnnds and Slocks lioiulit nnil sold 11em8er l'l.ln. Htnck Kxelinnr Spruce 8200 Standard Oil of N. Y. 6J2s Due 1933 ' at 100 and Interest MCCUniTIES MKFARTMKNT CommercialTrust COMPANY Mcinlier Tederal ltesre -i.ein City Hall Square Welt H.LSmith&Co. INVESTMENT SECURITIES 1009 Land Title Bid,. Spruce 6721-2 Lawrence E. Brown & Co., CERTIFIED PUBLIC ACCOUNTANTS mmi HKAIj K8TATK TUUbT 1II.U0.. Investigate and adjust corporallon W4 Vr nartnershlti uccounts nnd prepare Iiuobi 'r..v ItttirllM. ' R. B. CARR ACCOUNTANT & AUDITOR HrooltR Iildg. lVllkrN-llarrr, I'n, Ponna. Iildlf. rhlladflpM PENNSYI.VANIA fOAl. & fOKF. TO. m h..iw . . mm m -v - jm M r n n -mm ' - I- . T4 . r-.. rirsi: iviortgage oo Bonds j, Seriei "A" Sinking Fund i Notice is hereby irivcn that nursuant to the Sinkinr Fund nro-i?! vision of the above mortcaKo dated Julv 1. 1902. nronosalR will bag received nt the office of the Commercial Trust Compa'ny, Trusteed City Hall Square, Philadelphia, for the sale to tho Trustee of ai. BUIIlCIUIlt IIUIUUI.-1 ui iiuiiud vu UU1IBUII1U llIU Bum OI JOU, ( til, III HOW l tki Sinlcintr Fund at a urice not to exceed KlRr?. nnH m-r-niprl Inter-', est. The right is reserved to reject any or all proposal in whole tl or in part. Proposals should bo sealed and marked "Pronosals for the sale of the Pennsylvania Coal & Coko Company .Series 'A' Bonds" and,! be presented to tho undersigned before 12 o'clock noon, Wednesday1' June 1, 1921. ? COMMERCIAL TRUST COMPANY; Truatee HENRY C. GIBSON, Treasurer II -iAU n ,4 WWV 1-V 4' X.. w$&: i ; a, s -Ni-i ,.f,. 1 d jjlr-f'aifisvHmi; . 1
Significant historical Pennsylvania newspapers