W" w yV . . . You Should apply the same business methods in selecting an Executor and Trustee of your Estate as you would in selecting a Manager of your business or the ad viser in your legal mat ters. The NORTHERN TRUST COMPANY has all the necessary qualifications for manag ing your Estate. KT ' R IB fcs ' Is? ' T' I! . S June Bond Circular It is estimated that ovor $86,000,000 of bonds ma ture this month, and as suitable ro - investments for theso funds wo rec ommend Canadian Gov ernment and Municipal bonds now obtainable at prices to yield. 6.50 to 8 Our June bond circular describes issues which have principal and in terest payablo in New York. Write for Circular P-67 Wood, Gundy & Co. Incorporated 14 Wall Street, New York t I' St Toronto London, Knr. Wlnnlpcr Montreal Bath Term. Bids;. lit Si, 1060 Chef, tt Ohio Northern R. R. 1st Si. 1048 Standard Oil of N. T. 6s, 1933 E. I. da Font des Nemours 1s, 1SS1 Kelly Sprlnsfleld Tire Co. 81, 1931 WlDCMDI BlOO. PMIUDtLrHU PUtJUfili tnJ Ki Exflnrt JWvlW ggjtwm.n.1, 111 hfl I I k 1 IsU STATISTICIAN v Investment Banking House (members of New York and Philadelphia Stock Ex changes) offers an excellent opportunity to a statistician EXPERIENCED In writing; bond circulars and handling follow-up correspondence. State qualifications and ex perience fully; replies. In strictest confidence. Box O 336, LEDOER OFFICE &- I 7 Cumulative Preferred Stock of Large Public Utility and Oil Co. i Net Earnings Over 20 1 on Present Price O. B. LANSINGER & CO. ISO 8. lSUi St. VI OH U m i, 1 & li. -. American Gas & Elec. Common C. B. & Q. Joint G'is, 1936 American Gas 6s, 2010 HENRY D. BOENNING&GO. STOCK EXCTIANGE DUILDntO Wrfet JriTat i Telephone, to New Yark Usknbars rhlla. Btook Kxcbaoct sngpp ji mm w ,u i' P"-" ""TT- MMM3HkjtliiiCMMWMgMMMMMMMyMMwTM' s 1L. , "UmImmIm C. S. PATTON & CO. 3D a CHESTNUT 8TS. BANKERS Nueeeuors to SAILER 8TEVKNS0N Bends, nnd Htocks bought nnd told Member rhlla. Wtnek Ktdutm. AUTOMOBILE INSURANCE UBEUTV MUTUAL INSUBANCE CO. Then lxwist 61)18. to-n bo. 131b St. !& I I' Fidelity and Deposit Company of Maryland .JA f EVEIIV KIND OF SURETY BOND P HERMAN HOOPES, Ir Mfoj ' uwienu Agent. COS BEAt, ESTATE TBUST BM0. W H.L. Smith & Co. tiSiv INVESTMENT SECURITIES 'IMt Lwi TW. tUt. Sprue 6721-2 I STROUD & CO. apT'wir wwwmiMmt??;-' , w .. . .rtv 'V".-''" ir;i:-;:yn' pr : : . ' 'VfctfHHIOT FTO13D KEDERHaABMHIA; . ... E Sales 70S SOI so 3000 1500 300 100 100 N00 1200 300 100 MO 400 300 300 700 300 100 1400 400 300 100 700 300 1400 100 700 400 1100 400 1300 13 300 1300 000 3500 100 100 3500 100 500 300 100 100 1S300 300 100 300 13000 1011(10 100 200 10500 100 400 300 100 100 100 100 100 100 400 100 100 700 1400 500 COO r.nn 150 1800 100 100 000 1200 3200 500 300 7400 100 100 300 5o0 100 100 300 300 300 100 1000 100 300 300 300 100 300 200 100 300 800 000 300 : 1500 1000 300 000 100 too 1100 300 300 '100 100 300 800 100 300 200 100 800 too 100 100 300 200 100 31600 100 100 '400 300 700 100 100 200 (400 300 300 300 300 100 800 400 300 100 100 100 100 100 100 1500 300 100 too T300 300 400 7400 100 400 noo ISO Closing Out of Speculative Ac counts and Loan Calling Caused Heavy Liquidation New York, .Tune 7, There was n marked expansion In the volume of deal inns in todny'n stock mnrket. but It was ecncrally at the cxponso of values. While reactionary currents ran strongly the general list displayed much better re sistance to the selling for both accounts. Trice movement, In consequence, was extremely irregular and although a new low level was established in different classes of stocks rallies invariably fol lowed the withdrawal of pressure, which was suggestive of the market having ap proached an oversold condition. It was evident during the morning there had been considerable impairment of marginal accounts ns result of the shakedown of the preceding sessions. There was however, both voluntary nnd Involuntary liquidation all through the list, embracing too investment as well as the more speculative Issues. Quite a good deal of the better grade apparently was sold in order to protect lew marketable issues. The closing out of these speculative accounts and fur ther calling of loans by the banks pro voked heavy liquidation all through the list. Although tho fresh weakening of the market was somewhat surprising to those who had been making a close study of tho technical conditions the new wnrc of liquidation was after all a natural sequel to the train of dis turbing domestic events, which was somewhat Intensified by tho scries of dividend omissions, which, in turn, served to Impress upon tho minds of tho market community the very unsatis factory industrial situation. Supple menting this was tho unexpected tight ening of the money market. A further indirect unsettling influence was the reports of the referendum vote being taken by the railroad workers on the proposed wage reduction. On top of these home disturbing influences came the semi-collansc of the forclzn ex change market. Having nlrcady suffered a bad case of ncnes tho market com munity was consequently very consitlve to any development of the slightest un- lavorame cast. Overnight belling orders from people unable to answer margin requirements made for lower prices at the outset. Tho character of the initial dealings, how ever, easily pointed to a continunnco of yesterday's selling pressure. Additional momeutum wus given tho selling move ment by further unsettlcracnt of foreign exchange rates, although the market later In the morning braced up consider ably. The entire list established lower prices as tho pressure increased under the loan calling and maintenance of the 7V0 per cent call loan rate. JjObsct) of 1 to 4 points nttended tho extensive offerings of oils, motors, equipments, sugars, shipping rind rails. Among tho latter were Atlantic Const Line and Louisville and Nashville at recessions of 3V4 and 4 points. New York Airbrake, International Paper, Famous Players and boveral of tho ex press company shares were included among the weak specialties. LOWER PRICES IN THE LOCAL MARKET Limited Buying Power Largely Responsible for the Crum bling Quotations The weakness prevailing in the other prominent security markets was also communicated to tho locnl stocks. There was a general lowering of prices all through the list, with declines ranging from inslgnlficnnt fractions to over 2 points. The wider losses were recorded in the inactive issues, disclosing contin ued thinness cf tho market for this class of stockt-'. In several parts of tho list there wns unmistakable liquidation, some of it, perhaps, enforced by reason of Impair ment of accounts ns rcasult of the sharp fall In the New York stocks. Most of tho selling, however, represented more tired or disappointed holders, who rather than take further lowes decided to let go. Tho crumbling prices nil along the lino indicated a heavy reduction In the buying power and also the extreme nar rowness of the market as a whole. Sev eral of the local issues apparently had excellent support, this was nt least sug gested in both Philadelphia Electric preferred and U. G. I. The former con tinued to be firmly pegged at the year's low mark 25. The latter after dip ping to 84' was quickly brought back to 85. One of the softer spots was found in American Stores which dropped 1 points. ciecinc storage liattcry Jt tne same time lost a point. Pennsylvania Salt on a few sales was off nearly 53 from tho previous sale. Philadelphia Stocks 1 13 Net V if chse. r,st,i -. . mi S40 Am Strs. 511 20tBald Loc pref .. M M4 LI Stor.lOS " 200 Key Tele. 0 100 Lch Vol. ."iOVj lOOtNor Pac. 0!) 308 Pa Tl H. .Il-ll 46 Pa Salt.. 07'?. 22,'. Phil Elec 21 ? 178 do pref. 2riH 10 P It T.. 174 lOPhlla&W 4 120tUeading. 08 lOOtSIiielalr 21 4 301 Tono Pel. li 000 Ton Min. VA 145 Vn Tract 32 158 U G I.. 35 200t Wabash pref A.. 20 'J 5S oo.. no -i. 107 1073- !) ro. 00 .'14 07 21ft 25 17 tf 4 08 21 ,i m I'.i 32 34 Yj 20?i .lll'V (50 - ... -lw MARKET CONTINUED UN PRESSURE 34, - 5 07,-2 21", (, 2391 U 4 . . OS fH 21' i8 ft 32 .. 35 . . 201 ,. trt ctunse mad by comparison with lust ealo on Now York Stok Exchanire. rniLADKI.PIlIA BONDS $500 Liberty 2d 4 4 s 80.58 200 Liberty 3d 44 1)0.84 2000 Liberty 4th 44 K0.78 000 Liberty 4th 4Vis 80.70 200 Victory 4 s 08.00 2000 Bell Telephone 7s 101 i 3000 Iiel! Telephono 7h 101 iuuu i-oiia iMecinc m us h;i. 1000 Phlla Wee lht fi 83 3 i'Ji C000 United Hallways 0s U'J$ MONEY-LENDING RATES Demand Cabl NEW YOBK Money on call, both claim of collateral, owned today at VA ptr cent tor lending ani rene"flnig. rnilADKUIIIA Call. 0 per cent; tlm. 6 per cents commercial paper; three to atx aonthi, a per cent. Note Theie are merely nominal quota tion, the legal rate of interest In the mate of renneylvanla belti flxed at O per cent. Today's Range Liberty 3Vas .... Liberty 1st 4is. Liberty 2d 4Us.. Liberty 3d 4V4s. Liberty 4th 4V4s Vic Notes 3fiS... .'Vlo Notes 4$iB..' fius premium ana oommiuion time many, IUI tblrl Der cent, while commercial naner tmm rty to ninety daya. la loaned at 7 to 7 u per cent. , MONTBEAI-The premium on New Tnrk ezchance here today was 12K per cent. The raw 01 aucouni jn new xoik iqaay on ca naaiaa iuca wm nrr per cent. mzrrmawrarm- - - , jm . . . j" "-rr- .' i- . .. NEW YORK STOCK EXCHANGE TRANSACTIONS Ulv. in I 1:30 Net Cloto Cnie. : - 354 354- 154 .. SI J4- 454 HO H 73 - 154 4114- J4 61J4- 'A 30 - 154 38 - 154 284- V 83 - 134 134 - yi 1854- 14 iiH"n 60 54 55 61 3754 V 8K 54 37 8354 .. 54 8H- 54 3954 54 75J4- 54 1014 U4 39 n 14 90 J4 584 1 83 354 I04H 54 131 11954- 154 7354 154 3054- r, 8ft- 54 3n 54 V 81 54 98J4- Vl 80(4 .. 754- 94 8454- H 1354- 3 14 854- V 1154- J4 70 - 1 3854- 1 4 6154- 4 6354- 154 9954- 4 11H- H 6-1 404- H 4K 54 1354- 164- 54 1354- 54 57-54 384 V 75 44 .. no4 4 35J1- H 714- 54 3554- ' 614 ?4 195 - 7 57 - 14 I5J- H 74- 54 17''4- 4 2654- Vi 3954- 154 64 - 54 55-3 31 - 54 6054 54 75- 54 80 104- 54 3354- A 43 - 4 364 - 54 27 - l'4 35 - 1 5754- 54 654- 54 29-1 3054- H 25-1 85 - 54 6J4 - V 18 - A 43 - 54 1 - 54 62 '4 6454 54 9854- 4 2854 54 C4V 54 16H- 94 11 J4- 54' 38 H 90-1 329 - 1 '54- 54 1854 354- 54- U 85 - 1 30-3 63 54 95 124- 54 1954 13 - 154 68J4- 83-3 3J4 H 13 15 1 - 54 44-5 604- 3 90J4 J4 555 - 94 133 - 54 10 34 - 94 17J4- 54 80 - V 31-1 6754 .. 2754 .. 33 9V4 54 3054 . ra 71J4- 1J4 64 - 1 1554- 354 514 94 6394 11 90-54 33-54 4 11 44 - 3J4 87 10394 14 3354- 1 13H .. 48 54 304- 94 6O94- 194 7154- 54 1454 54 14 38-1 rttch law 8 sow 154 3954 33J4 73 4154 5154 30 33 384 83 124 185' 0 11K Ma 55 Gt 3U 8 3074 8354 5J4 8H 38H 7SJ4 100 39 74 JS 90 67J4 63 10(('4 120 54 11954 7l4 3054 8J4 3RJ4 ?1 1854 9054 754 84 W 3354 14 854 U54 70 3854 W 51 5354 0954 UK 8 404 i 1354 164 1354 57 3854 75 44 11054 3554 71 35 V4 fit 105 56K 154 71 1754 30 39J4 04 55 31 00', 754 80 104 3354 43 304 37 35 67 J4 n 39 3054 35 85 OJi 18 42 1 0354 64 0854 3814 r.354 1654 11J4 38 00 239 1"4 IS 54 354 54 85 30 6034 05 124 19 J4 13 0854 83 34 J4 13 16 1 44 604 0014 555-4 133 10 34 77 JS 80 21 6754 3754 33 954 3054 7154 54 154 57 63 11 00 33 4 11 44 87 1034 13354 13H 474 3054 5054 7I'4 "54 14 3S Actum Express 37 H AJax Rubber 37 . . Alaska Juneau 6 M.. l' 4 Allied Chem & Dye... 40i2 4 Allls-Chalmers 33 7 Allls-Chalmera pf .... 1VA Am AgTlo Chem 43 4 Am Bank Note 51' . . Ant Beet Sugar 30 5 Am Bosch Magneto.., 30 .. Am Can 39 Jl 7 Am Can pf 63(4 12 Am Car & Pdy 134 .. Am Cotton Oil 1RH .. Am Drug Syn 0 .. Am Hldo A Leather.. UK . . Am Hldo & Leather pf 50 J$ 4 Am Ico 35 Am Ico pf fll .. Am Intornat Corp.... 37H 1 Am-La Franco Ens... SH . . Am Linseed 27 8 Am Locomotlvo 83J4 .. Am Safety Razor. ... 5H ..Am Ship A Com 814 .. Am Smelt & Rof 30ft 7 Am Smelt & Ref pf . . . 75Ji 8 Am Snuff 101?4 8 Am Steel Foundries.. Hyi 7 Am Sugar Ref 77 7 Am Sugar Ref pf 00 8 Aw Sumatra B8K 5 Am Tel & Cable 53 0 Am Tel & Ttl 104H 13 Am Tobacco 131 12 Am Tobacco 0 13014 7 Am "Woolen 73J4 . . Am 'Writing Paper pf . 30H . . Am Zlno Lead & Smolt 87 .. Anaconda Copper .... 39 (6 4 Asso Dry Goods 31 A Asso Oil It 0 Atch Top A Santa. Fo. 8014 Atch Top A S F pf . . . . 75 7 Atlantic Coast Lino... 844 . . Atl Gulf A W I S S. . . 33H .. Atlantic Tet 14 .. Austin Nicholas 8H 7 Auto Sales Corp pf... 11 Vi 7 Baldwin Tjocomotlvo.. 77J4 .. Bnltlmore A Ohio 394 .. Batopllas Mining; ... $4 6 Bethlehem Steel 5IV, 5 Bethlehem Steel B.... 5& 8 Bethlehem Steel 8 pf 9014 .. Brklyn Rapid Transit 114 .. Brklyn R T ctfs erf dep 014 .. Brown Shoo 404 .. Butto Copper A Zlno. 4H . . Butto A Suporlor Cop. 13V5 .. Buttcrlck 164 .. Caddo Central OAR.. 1W 0 California Packlnu ... 57 . . California Petroleum . 3ja 7 California Petrol pf . . . 75 3 Cal Zinc A Lend 44 10 Canadian PacWo ....1104 . . Central Leather 35J4 7 Central leather pf... 714 .. Ccrro do Pasco 30 fl Chandler Motor M4 8 Central of N J 196 .. Chosapeako A Ohio... 57 .. Chi A E 111 pf ctfs... 1)4 . . Chlcauo A Gt West. . . 7?4 . . Chlcag-o A Gt "West pf IR .. Chicago Mil A St P.. . 30V4 . . Chicago Mil A St P pf 41 15 Chicago Northwestern 04 8 Chi Pneumatic Tool... 5 .. Chi R I A Pac 314 fl Chi R I A Pac 6 pf. 06' 7 Chi R I A Pac 7 pf. 754 7 Chi St P Minn A O pf 80 .. Chile Copper 14 .. Chlno Copper 33'4 . . Cluett Peabody 43 . . Coca-Cola 37 3 Colorado Fuel A Iron. 371J . . Col A Southern 35 0 Columb Pub A Elec. . , 57V5 .. Col Graphophono .... 014 7 Col Graphophono pf . . . 39 4 Comput Tab Records. 37 7 Consolidated clear ... 35 7 Consolidated Gaa .... 85 .. Consolidated Dls Ins.. 0J .. Consolidated Textiles. 18J.4 7 Continental Can 43 . . Continental Candy ... 1 7 Continental Insurance 03 V 4 Corn Products Ref. ... (HV 7 Corn Products Ref pf. 9S'j .50 Cosdcn A Co 384 8 Crucible Steel f4' .SO Cuban Am Surrar 10a .. Cuban Cano Susrar... UJS . . Cuban Cane Sujrar pf . 3SJt 0 Dclawaro A Hudson.. 98 10 Del Lack A Western.. 239 .. Denver A Rio Gr pf. . . M4 1 Dome Mines 18' .. Duluth So S & At 3'4 . . rmluth so S A At pf . 64 7 Durham Hosiery pf. ., 85 .. Elk Horn Coal 30 B Endlcott-Johnson .... 03 7 Endlcott-Johnson pf . . 95 .. Erlo 134 .. Erlo 1st pf 19J'$ .. Erie 2d pf 13 8 Famous Players L...60 8 Famous Players V pf. 83 4 Federal Mln A Smlt pf 24 .. Flsk Rubber 13 . . Frecport Texas IS . . Gaston Wms A Wis. . . 1 3 Gen Am Tank Car. . . .'44 .. General Asphalt ftb'A 3 General Asphalt pf... 90(6 fl General Clsnr 65'a 8 General Electric 133'i 1 General Motors 10 .. Goodrich B F F34 7 Goodrloh B F pf 77J4 8 Gllllland Oil 80 .. Granby Consol M A M 31 A 7 Great Northern pf....'87&4 4 Gt Nor Ore ctfs 37 J4 . . Greene Cananea Cop. 23 2 Guantonamo Sugar .. 0V4 .. Gulf State Steel 30 Yi 7 Hartman Corn 71 H 4 Haskell A Barker Car 54 J4 .. Hendee ctfs 15-4 .. Homestake Mining ... 574 .. Houston Oil 03 1 Hupp Motor Car 11 7 Illinois Central 00 , . Inspiration Con Cop. , 33 . . Inter Con Corp 4 .. Inter Con Corp pf.... 11 E Int Agrlcul Corp pf . . . 45JJ B Int Harvester now... 87 7 Int Harvester new pf 1034 .. International Cemont. 23 Vi .. Int Mer Marine 12H 6 Int Mer Marine pf.... 1H .. Internat Motortruck.. 304 .. International Paper.. 014 0 International Paper pf 7154 .. International Nickel.. 144 .. Invlnclblo Oil Corp... 14 .. Iron Products 38 FOREIGN EXCHANGE New York, Juno 7. rorciKn change rates displayed n htcadier tone at the opening today, all the principal European cxchanK" showing improve ment over Monday's closing figures. Sterling was up a full point. Other quotations follow : Sterling cables .'i.78, demand 3.77'4, French and llelgian cables 8. checks 7.09; lire cables -1.70, checks t.7ri,A, peseta cables, 12.S4, checks 12.82; Swiss cubles 17.10. chwks 17.07; guilder cables S'iAO, checks :..15; Stockholm cables 22.3 J. checks 22.20; rhristlanla cables 14.7.ri. checks 14.70; Copcnhngen cables 17.32, checks 17.27; marks t.t0Hi. Later In the morning sterling cables were quoted at 3.78 ; demand, 3.77 I Commodity Markets COTTON MARKET New York. June 7. Part of the buy ing in today's early cotton market was due to firm cables n,nd an improvement in the Knglish labor situation. It car ried first prices up 1 to 10 points, and nbsorbed offerings from thn South, In cluding Now Orleans. Liverpool was ouo of the buyers. Spot houses took July and there was considerable switching from near to later months. After the start there was an lncrcaso of local selling pressure which sent the list back to last night's closing level. The receipts of cotton nt the ports for the day arc estimated nt 35,000 bales, against 32,780 bales a week ago, 5288 bales a year ago and 28,785 bales two years ago. franc caDics, e.ui, cnecus ej.o.i; llelgian cables, R.03, checks 8.02; Hro cables, 4.75, checks 4.74 ; guilder cables, 33.00, checks 33,45; marks, 1,51 VI. YESTERDAY'S CLOSINO QUOTATIONS Sterling Franca T.lrn nullrlpr. July itnber ...... 7HJ4 7 'i0 4 70 88 5'. 8704 SOI 4.78 83.G5 recember .... January March ....... TODAY'O OrENINQ QUOTATIONS Sterling Francs Lire Guilders Demand 3.77',; 7.1n i,ir, 33. 3 Cables 3.78 8.00 4 7U 83,40 GRAIN MARKET Chicago, June 7. Wheat started V2 to aic lower for July nnd Vic lower to Vic higher for September. Mixed, mod eratcly nctlve trade,' with commission houses on both sjdes and locals selling. Inglis report from Tcrre Haute, "Ind., was moderately bullish. Receipts In spectcd yestorday 82 cars, last year 10 cars. Gash market easier with premiums on hard winter crades lower. Seaboard In Liberty Bonds 11:15 High Lew A. M. 88.20 87.70 87.00 87.54 87.B2 87.54 80.70 80.02 80.00 00.00 00.70 00.00 80.78 86.70 80.74 03.08 08.00 08.00 08.13 08.00 08 JO reported late that i& -' ' ,: : .- "a ttt. . wp : .-, ...v.. " - ' v - w.i. t: T7"' --ir" - - v u "-( - " g iwnnn i A'Vii. vv v'"; v,.Ti,.'ft 'tr. Sales 1600 300 1810 300 4000 300 100 500 3501 3900 100 Id t Man liOW 54 8 25 50 84 7054 53 1IJ4 154 43 13 37 . 60 10 1014 .. Island Oil ..... . &H . Jewel Tea. 8 .. Kansas City Southern. '5!4 4 Kansas City 80 pf.... 50 4 Kelly-Sprlng-fleld Tire. 35 Kelly-Bpc Tire 8 pf. lOyX .. Kolsoy Wheel ....... .' . . Konneoott Copper ... 1A54 .. KeystonoTAR 1H .. Lackawanna Steel... 45 .. Lako Erie A West.... 13 100 3 Leo Rubber Tire ' 1500 3.B0 Lehlfh Valley 51 28500 2 Loawn Ca . "54 . 1054 loo 200 700 ido 300 100 200 100 200 100 100 33100 1500 1 IjCtfi Pfinilv 13 Lorlllard Tobacco . . .153 15154 4 uuniiaru xooocoo ,... 7 Loitlsvlllo A Naahville0554 100 A M"jVnv rf AS (S Sugar 54 ..Market St Ry 94 . . Market St Ry pr pf . . . 38 .. Marland OH 17 2 Marlln-Parry 1654 .. Maxwell Motor 654 . . Max Mot 1st pf ctfs sta 654 12 Mexican Petroleum ..1404 4554 S 17 iVi 654 . 54 1435-4 31 11H 35)4 U54 3yi 454 31 38 6154 184 1954 194 6094 75 103 lK 60 60 67J4 20 1754 11794 954 93J4 57 6894 21 854 3 23 13J4 39 5054 16 3354 41 5754 40J4 13 3494 I 41 3094 1094 31 47J4 4754 854 62 574 87 37 14J4 78 9754 3654 39 Hi 83 101 13J4 47 J4 40J4 30 94 34 94 5394 88 5554 11 n 3354 36 Yt 354 15 6ft 7394 654 4194 30J4 38 7354 1994 47 13554 -- f, iuiajni copper "' JW) 1.60 MIddIo States Corp... 1 2 Miami Copper " 3000 Mldvnln Rtcl 3594 800 200 100 300 1800 200 100 300 100 300 100 100 100 800 800 .. Minn A St Louis 1354 .. Mo Kansas A Texas... 354 . . Mo Kan A Tex pf 454 .. Missouri Pacific 31 . . Missouri Pacific pf . . . 8854 8 Montana Power 6154 .. Montgomery Ward ... 1894 .. National Acme Co.... 1154 .. National Con A Cable. 94 0 Nat En am A Stomp.. 61 0 National Lead 76 7 National Lead pf 103 .. Nov Con Copper 11094 N O Tex A Mex 604 B NYAtrBrako 61 1500 6 Now York Control.... 68J4 150o 3.50 New York Dock 2954 1500 Now Vnrlr H 11 IT. . 1RU 100 100 2500 200 8600 00 5100 2000 1000 200 600 1 New York Ont A W...B1794I .. Norfolk A Southern... 154 7 Norfolk A Western... 394 B North American 67 7 Northern Pocino CO'A 6 Novo. Scotia SAC... 29 .. Ohio Body A Blower.. 8J4 .40 Okla Prod A Ref 3 2 OrpheUm Circuit 34 .. Otis Steel 1354 2 Owens Bottling 2954 100 a 4'acino uoa & Elec. . . . ooi 190 3. so Pocino Mall 15 1000 Podfln Oil 32M 1300 15800 5000 300 200 1000 3000 1000 3000 400 7500 400 300 100 800 103 3500 200 500 1600 600 3600 100 200 900 0500 100 100 200 4500 100 4200 300 3500 400 100 300 100 160O 300 3400 200 500 2110o 100 6300 5100 500 300 300 100 100 100 300 33(00 400 600 300 34800 3000 6300 100 3200 10300 100 0800 100 100 300 700 900 300 300 3800 100 1309 400 1800 18300 200 34775 100 800 3090 500 500 100 1000 200 10.1 800 390 100 300 300 200 100 1000 100 4700 500 100 100 .. Pacific Tel A Tel 50 8 Pan-Amer Petrol .... 6354 0 Pan-Amer B 5454 .. Parish A Bingham.... 13J4 2 1 Pennsylvania R R. ... .. Penn Seaboard Steel.. .. Peoples Gas Chicago. . . Pero Marquetto .. Phillips Pot 8 Philadelphia Co . . Plerco-Arrow Motor. . 8 Plerco-Arrow pf . . Plerco Oil 8 Plerco Oil pf B Pitts Coal 0 Pitta Coal pf .. Pittsburgh A W Va... 1 Pond Creek Coal 8 Prossod Stoel Car 8 Pullman 8 Punta Alegro Sugar.. 4 Puro Oil 8 Railway Steel Knrlnir. 3494 054 4994 31 h 21 3154 2054 48 89f 63 58 87 38 14J4 8O54 99 37J4 30J4 83 7 tiwy aieei spring pf 101 Hlv Con rnnrwii. IS 4 Reading 6854 2 Reading 1st pf 40J4 .. Remington Typewriter 30H .. Replo Stoel 3494 .. Republic Iron A Steel. 644 7 Republic Iron A SU pf . 88 J 20 Roval Dutch NY 5754 1 St Joseph Lead 13 .. St Louis San Fran... 3354 .. St Louis Southwest... 3654 . St Louis Southwest pf 35 . . Savago Arms 14 .. Saxon Motor 354 .. Seneca Cop Corp 16 .. Seaboard Air Lino... 6 . . Sears-Roebuck 75 . . Shattuck Arizona Corp 7 .74 Shell Transport 4394 .. Sinclair OH 214 .. Sloss-Shcff 38 4 Southern Pacific 7SJ4 .. Southern Rail 2054 .. Southern Rail pf 4794 5 Standard Oil of N J, . .136 7 Standard Oil of N J ptlOO 7 Steel Tube pf 75 106 75 7 Stern Bros nf 107A 10714 2 Stewart Warner Speed 214 31 .. Stromberg Carb 35 3194 7 Studebaker 704 084 1 Submarine Boat Corp. 7 -s'&lOH .. Superior Oil Corp 5J4 &iz .. Tenn Cop A Chem.... 8 8 3 Texas Co 3394 324 .. Texas A Pacific 31J4 2054 1 Texas A Pac C A O.. 3194 2054 lfi Tidewater Oil ISO 150 0 Tobacco Products.... 64 54 53 Trans Con OU 854 7 754 Union Oil . . . . . isv 181 10 Union PacIRo 11654 4 Union Pacific pf 65 . . Union Tank Car pf . . . 0fa . United Alloy Steel.... 24 8 United Drug 88 8 United Fruit 10494 .. United Rwy Invest... 954 .. Unit Rwy Invest pf. . 31 3 United Retail Stores.. 5854 .. US C I P AFdy la ..US Food Producta... 1854 .. U S Ind Alcohol 60 ..US Realty A Imp.... 49 BUs Rubber "tlyi ..US Smelt & Ref 8354 6 U S Steel 79J4 7 US Stool pf 10754 4 Utah Copper ........ 6154 .. Vanadium Corp 29 .. Va-CoroUna Chem ... 2854 . . Vlvaudou Ino 7 .. Wabash 7 .. Wabash pf A 2194 2 Weber & Heilbroner.. 11 .. Wells Fargo Express. 50 . . Western Maryland . . . 10)4 .. West Maryland 2d pf. 1894 . . Western Paclflo 38J4 7 Western Union Tel... 8754 4 Westlnghouso E A M. 4554 .. Wheeling A L E 094 4 White Motor 34 .. White Oil Corp 1094 . . Wick Speno Steel Corp 13 .. Wlllys-Overland 8 .. Wlllys-Overland pf ... 45 1 B Wilson A Co 3554 a Worthlngton Pump .. 47J4 O Worth Tl!Tn nf TJ it'll "69b 6I 94 34 8754 10354 9 31 6594 13 1754 5854 48 59 33 7854 10754 61 384 38J4 7 7J4 3094 It 60 10 1894 8794 46 954 31 104 16 7' 3 K 35, 47 J4 035-4 100 Ex.dtvld.na. w " " '4 d.392...!,rrSL" 5l it,. 7 .' rURj"B -'vyv oarre s of flour the last few days. Country offcrinM tn arrive fair. Weather conditions " erally favorable for tho crop. Belt" ment In the trade 1b divided and a nerv. fn " m010 l'kely unless "oma ttrS incent ve to buy or sell . devclopcil &tT11?ui'latlonJ'1 Miev4 to have Ft hC Kuly in a tMW Poaitlon than It has been for Borne time. Corn started with July VsC t0 3'i(. & and ,S?tem1bcr c off? Pent? tcred commieslon houso selling marked the opening and later there was local oPr8fl00rcaaU88 f csUmat recS Oats, mixed trarlP with July uc to c highenr"d Scptcmber ""changed to NEW YORK COFFEE MARKET Now Yorit, Juno 7. The Ilrozil ca bles showed continued strong markets at Itio and Santos todav. r .- Previous Cloie 12.44 la.is 13. BS 18.67 13. US Open J3 m. 12. SS 1J.58 13.21 13.81 13.66 13.80 18.73 .... 14.00&01 .... here have failed to keep SQrn?eTmorPeThany r "" """, j 'i wnue the con. atout IVic. " W8 " 8a,n of bu' July .... n.utamiMir ...... ---""-" " sk'.L;--" ------"..... RKirawr Maroh Bid BAR 8ILVER London, June 7 Bar silver u a hUbsr today at S4K4. r " 600,000 bushels wheat imajw , - - , , ,pi" --t- 7 i'Tmi!ruj'TW j' ftESDXS JUKB1 IRAK FLAT 1:80 Net Cloie Che. 354- K 8 35 80 34 - 114 7054- 94 53-1 19(4 13H V 43-3 N CUI MET Doallngs More of a Ca3h Na ture Than for Some Time 13 37 H 50 -10 - 1054 iStlt 1 154 J4 New York, June 7. There wns n Kfnorol flnttcnlng out of the Bpccumtlvc Interest from the bcjrlnnlni? pf business today, tho outside market bccptninB oven moro of a ensh nature thnn It lifts been In recent times. Cleveland Auto was In supply, sclllns; at 30. nnd there wns 0 moderate amount of business in Goodyear Tire nt 5 nnd 4, n new low record being mnde In that stock. Inter continental Rubber wns nlso In supply. Belllntr nt 8W. and offers of other motor nnd rubber Issues wcro mnde nt conces 54 100 - 54 u 4. H 4554- 1H 894 38 - J4 17 54 1654- ?- 5J4 514- y 14354 31 -liK- 9SU- 5 1 94 sions without finding buyers. Southern Coal, which hns been well supported nil through tho period of market disturb nnco, sold down'to 3. A little interest 54 1114- 154 354 H 54 tt 31 88V4- 114 I51V4- 54 was noted in Aetna explosives "; cates In which sales were modo at .11. Sweets Co. of America again 2. United States Ship Corporation wns fairly nctlve, selling nt and . Many issues were offered nt declines, r.nt- them wns nn absence of bids and no lBH-r- n 1954- 194 5094 75 -103 1094 60 -60 -67 J4 36 -1854 1794 054-3J4-57 -68M- 54 transactions were mode in them. 14 J4 54 5 94 3 94 54 H 1 K Petroleum stocks wcro directly muu enced by the nctlon of the oil group on thn HtnrL- Wxphnnirn. hnt Anelo-Amcrl can, which sold down to 14.. yester day on tho announcement of tho new stock lssuo. found support and moved up to 1GV6. . ... .4 AinrncaiDo was nenvy, Beuing i to 25 Y. Skolly Oil ranged from 4 3, making a new low record. INDCSTBIAIA HlKh 39 .. 84 3 23 - 354 1354 .. 39 5054- 54 15 33-94 49 - 194 6754- H Aetna Kxploalve ctfs ..... H Cleveland Auto 80 Knrptre Kood 111 Goodyear Tire ,, Inter Jtubber 8H Perfection Tire Jt neaolns rlchts ......... in Southern G & I utana nan & Klectno rlo 1191 J..p.rf!:: & siana uu jsiectrio Sweets Co U S Ship Carp u h uteam united Front Bharlnc ... i Universal Gum II 49J4- 13 3494 9 -49 -2154 654 BTANDATID OILS inrln.lniF nil . IBM 144 54 1 54 94 54 Stand Oil of Ind 084 07 INDEPENDENT OILS Allied Oil 4 4 Balto Fot nH OH lioone Oil .1 ,.H Hoetorr Wyoming" 81 81 31 - 3154 17J4- 4754 894- 63 -5794- 14 54 54 54 54 uarm nyna ". u Cities Service "B" ctfs.. 20., 20 Denny OU 'i A Elk Ilasln let 7H 1 Klk Ilaaln rights . . iV 9i KnKlneers I'otrol ft . iV Federal Oil IS 19 87 37-1 1454 78-3 9754- 154 3654- 54 Hudson Oil . .J4 . . Int I'ctrol .............. 14H 14 Maracalbo Oil 254 iV Merrltt Oil 0., O Noco ret 7H 7 Noco Pet pref ........a.. IS 4u Noble 26 24 2954- J4 Ohio Ranter A .H 83 - 94 Ulnar JU . 4 Producer & Hennera 1 , 4., Red Itork Oil i Slmms ret "S "S Hkelly Oil 4a ST4 101 154 13K- 54 6794- 1J4 4054- 194 Tcxon H tin Texas Oil 'f United Royalty S 2 30H- 54 344- 54 MTNINO 63K- 154 Alaska Br Columbia H 88 - 194 Atlanta l l 6654 11J4-3394-3654 35 -14 -354 H 54 nig Lcdse V4 tt Hooth ..,.... 8 3 Host & Mont Al 00 Caled Mln 10 10. calumet & Jerome ...... A A Candclarla M 40 31 Cortex Silver 70 . 73.. 54 cros-on uom ii 14 Crescent McKamara ..... 8 8 Dolores Enpomnz ........ 2U 2 Dundee Ariz T Tt Kureka Croesus ......... 03 C2 15-1 5J4- 54 7494 94 654- 54 4394 1 3054- 154 32 Kureka liol r IK i"i Clold Cons .... 7 7 Gold Devel 1 1 UoldOeld Florence SU SO Gold Kewanas I 1 Gold Sliver Pick n n Gold Zcne IS IS Great Bend 1 , 1., Hccla Mlnlnar 3!i sT. Iron Blossora 1" 1 Jumbo Rxtenslon S S Knox Divide 18 18 73 20 47 130 100 - 94 -" 54 - 54 McNamara If In V 75 154 Marsh Mining r. n Marsh Mining new ...... n' ovu N'lDlsslne 4H lli 10754 3194- 54 North Star S 4 Rex Cons 0 K Rochester Mines 0 n 3494- !i 6894- 194 San Toy j Silver Klnir Divide 1 1 Ho Am P & O S 4 8 Sller Iftd ........... H ' 754 694 54 8 3354- 1 3154- 5 3154 5 150 -10 Success Mln 2 2 Tonopah Belmont ........ J A r Tonopali casn uojr Tonopah Divide .... Tonopah Hxtenslon . Tonopah-JIm Butler U 41 53 - IJ4 Tonopan .Midway n. . 1754- 11 Tonopah Mln 14 Tonopah Mlzpah " Tonspnh Montana ....... H 184- H654 65 -f 94 - 34 - 88 Tonopan Rescue r.uia ... 10 U 8 Cont i United Eastern 2ft Victory ? Went End con 1 White Cans 0 TVUbert -' 1044 l'4 Yukon Gold 1 9 - 94 31 60 - 14 13-1 174- J 5954- 194 49 ft 5954-13)4 33-1 7854-594 CURB BONDS Allied Packer 0 40?i 4fl; 00 ll!i t)44 87H H2S slnmlmim Tn ........... Dfl Amn Tel 6s, 1022 n04 AmnTel7s. 1024 04I Anaconda Os ....... .... ei; Anaconda 7s, 1020 i2- Anglo-Amn Oil 7s 00'i Armour 7s 08 BD'4 03 H 9Si Hem Hteei is, iu.o vo-it Both Bteel 7s, 1035 eaH Cons Cas 81 ......100 Cons Textile 7 100J4 Grand Trunk 6',-is ....... 03J4 Gulf Oil 7s I'f'Vi n.i too fioyt OS',4 osU 974 in 00W 1111 96 oeti 100 int int on oH inn 08 U8' I07y, 5154 39 38 J4 7 -714 3194 11 -69 -1054 1896 20JS- 8794- 54 B54- 34 - 1094 15 754-34(4-355-4 -4754-63J4- 54 54 54 54 54 VA 354 Helns 7s JJJvt Itumbio uu ib ''., Pan Amn Pet 7s 00W Sears Roebuck 7s. 1D21... ODH 8ears Roobuck 7s, 1023 ... 06 Southwest Bell 7s UB'i SONY uni .. i"'." B O N Y 7s, 11 ru ..101 S O N T 7s, 1028 . Sun Oil 7s Swltt OS Swift 7s Tmtam Cn 7a ..101 . . KS'i .. 00V4 .. P3 .. II84 Vacuum Oil 7s Ul4 Western Eleo 7s liSVi ' LONDON STOCK MARKET 11:15 Low A. M. 11 11 so no liH it',i 4 0 . 88 lBj ISJf 6 6M u n 84S 84 2U 2t4 '. Ti Spirit of Caution Marked the Deal ings and Leadership Was Lacking London, June 7. Caution was exer cised in the making of commitments on the Stock Exchange today, because of tho adverse position of New York ex change. Leadership was lacking, nnd the markets generally were dull. In the face of continued case in rates for money the gilt-edged section was flabby. French loans also were weaker, owing to the depreciation in the value of the franc. Brazilians were firm. After working off on profit-taking, oil shares rallied from the bottom. Shell Transport nnd Trndlnc wns 51 nnd PwrhnU been Mexican Eagle 0 7-10. A revival Hopes ror nn enriy emnng ot the strike of the Urltiuh coal miners led to steadi ness in the industrial division. Hud son's Bay was 0. Dollar descriptions and Japanese loans were cheerful In svmnntliv wifii New York exchnnge. Home rails negiccteu, unu mere were only minor changes In this group. Grand Trunks were hard. Light buying was noted in South Amerlcau rnila. Itio Tlntos were heavy. Kaffirs were well maintained. BANK CLEARINGS Bank clearings today, compared respondlna day lait two yeare. 1021 1920 Thlla... $67,123,401 174.8&8.(lJi7 inn peace with the ets ' ftS lioston.. 48,714,382 (14,870 007 " - Baltimore 11,1)00,120 16, 1)82, atl) Paris Bourse Irregular ..."VkFl".'! . .Qnen the Ilouri. foftty. Three p.r ,cr.r7Ul",.0n 67f BSo. Kxchajise o LondSnf 47fn40o'nirri": per cent loon. 82f 70c Tho rtniin. Fh quoted a,t 12f B3Hc. dollar wa Guantanamo Sugar Dividend Cut iiu'fOB U.flIl 'ii.iiifH, 7.nnnm fln.An, ' 7.3an4 i"IXYS i'-V". ,4U 7.02O63 7 08 is,.: .ivwea 5" t. n .'t V 1; i-il.,,' i!i' tfi Tube Mlll'Standard Seamle$ TubCtt ' MtcutiriC'MAiiaMAi.1. eo Those who employ the services of an organiza tion of proven worth are usually firms who have demonstrated their own superiority. That is why we enjoy the clientage of so many well-known concerns. McClintic-Marshall Company (tawi-nl Offlrrst rittetmrth. Fa. rhUadetphUt MOIUMS BUNl. New Tork, Chlcaro, San Zancisa McCliniic-Marsliall soiu in SteelBridges Buildings f 73 to "Pre-WarBrides" Stocks on which divi dends were paid con sistently BEFORE the war and DURING the war and on which divi dends are still being paid regularly should .appeal to the public as safe, attractive in vestments. Writo for our Letter S10 in which theso "Prc-War Bridea" aro listed. J. F. McGOVERN & CO. Members ot rhlla. Block Etchanio 1430 South Penn Sq.. DiUa. Sprnce 0410 ttsce SI88 Orders executed In nil Markets orer fast Direct Wires NewTorkt 82 Broadway 08'.; I Exempt from Federal, State, Municipal and Local Taxation Federal Land Bank 5 Bonds Due 1941 The Supreme Court of the United States has held that these bonds were legally created as part of the banking system of the United States, and are instru mentalities of the United States Gov ernment. Send for Descriptive Circular Bonbright & Company 437 Chestnut Street Philadelphia New Tork Chlcaso Boston , Detroit OTIS & CO. Stocks Bonds Acceptances Foreign Exchange Member of New York, Cleveland, Boston, Chi cago and Detroit Stock Exchanges, the New York Cotton Exchange and the Chicago Board of Trade. Private wire connections with principal markets of the United States and Canada. 216 Superior Ave., N. E. CLEVELAND New York Boston Detroit Cincinnati Columbus Toledo Akron Younp;stown Dayton Donver Colorado Springs 40H no 964 04. B7H V2 no 03 OS on 100 iooh I3H nsvt 074 os 90V4 w on on ino 101 101 nili IB 93 U8 U8V4 Consumers Power Co. of fifteen Year 7s Due July 1st, 1935 Pennsylvania Tnx Rerundril 7rh.t.nCr0n'1ume,;.L0.w",.9.'!-1''P- were cSSntr?. ' Mi:tlon t f.ta with enr. ' cor min Ran.. Price to Yield Approxi- " ;","" Ml uk for Circular Ka.a CASS.mv co. COMMERCIAL TRUST DLDG. PHILADELPHIA ALTIMOnt-PlTTSBUBCH-SCnAMTON v.. . , - JMJJ.J utroootroawnTWuTJuangmnjf' My .- ' i-r.Vjtf c-.., ri . .. .. ' tt, . .. 1 M I V r-"." ' ?". "". " r'$ 11 in L TheSecretcfl Leadership TIffl principles of leadership fa nj nesa are not many in lumber -JEw axe not hard to ffraspTYctieUffi two men In ono hundred ever learn then? Why? let Lack of ROUNDED butfivZ orperehce. 2nd. The difficulty of dSSS! oarto conduWons from the relaUvtl 712 experiences that any ont person canSnL Took Years of Research l nnnin jrcauui uuaincaa researeh.Islvw.i- work, and tuir 0 the lire, of succeiifS ipedsllsta of tho BABSON INSffiruTR !" gathered and pet into dear, tmdentsnrt.Vu ity te funduTttltw.taeailnKrtioolh?,' man must hve to achler seadeiota iSLE IDit toiormauon neretofore has been rZlZft only n the das. room, of the BoS? S?jS ?wiSoW where ttjftlon b Kooo a X? exduslTe onKfag expense. K,TO t the'EMslDte,'' trtute this tralninir la STSllabk at frlSS.'S the cost of the resident school tuftlon. M WttMytuuai? Then tend TODAv for f uU parUoiUr. about th rein,,? able course. Never. were there ertltS gorSeeSedr' Send for Our Book a rammgjor Business JeaOenhip " w of extraordinary interest to all menanl! forsucceM. Send for it. If. TOEE. toS fOoa. Tear out and mafl the coupon Jjowt !&l2" Mm, AwMsff) Dmiimti Addr.. MHIttt1tl""""tftMllt u Babsonlnstitute, Wellealey Hills, 82, Boston,-Mast, Spruce 8200 I A Nation-Wide I Market for I Liberty Bonds 1 Victory Notes i rcasury certificates ECURmE8 DEPARTMENT Commercial Trust Company Mfttabar FcdsrU Ssmim Snlsto Cky Hall Square West Make Long-Term Investments NOW Mortgage bonds issued by well-known corporations, matur ing from 10 to 30 years hence, yield over 7 at present prices. The holders of earlier matur ing securities yielding less should consider the exchange of same for more permanent invest ments while high interest rates are available. We titutto conference on this subject. rIARPER&TURNER Investment Bankers Members of Philadelphia Stock Etchanit Stock" Exchange Building scrautoit Philadelphia i BANKERS Dealers in Investment Securities Members New York and Philadelphia Stock Exchange 321 Chestnut St., Philadelphia MrKHINERlfKCrHllQ We are equipped to do the work at your plant and 8 you the expense of Jong-tie-up. I-lions Wnl. 1014 nnd Main StH PENNA. TAX FREE SECURITIES PAUL & CO. Members Thlla. Stoek Esehsnit 1421 CHESTNUT STREET AMER. TEL. & TGH. CO. RIGHTS BOUGHT SOLD MORLEY, WOOD & CO. 333 Chestnut Street m w XI2-222Jr.nARIBNST. Terre Hmite. Indpls. & Eastern WA llenrrnl Asphult Comvanr ,;, Lo mi l'hlladelplila Company Jg; K l'hlladelplilii llnpld Transit. Vu?J lfi Keudlns Comnnny Kqnlpnirnt 'K, Honthern 1'aelllo h. It. Kqulp ' "' SAMUEL K. PHILLIPS & GO. Members Philadelphia fitook Kiehssil 607 C'UKHTNUT KTHEKT . Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANT UiYtitliate. anTadTust esrpll" " partperatiltf accounts aad prspaw vmm 3 xaz iMiurns. iM1?' it!. JjiJtozsZSd t LWP'IL . S,- - 4 t ,j ,thaJ3atj)Vtf y JjU'.ta' .' 'J2jv& if .MiArt tff,; gfm .w, ti M to '' ''-t'Fv'"- rilii'iiii-".llinii''iWf--i 1 1 - '"
Significant historical Pennsylvania newspapers