VV
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.f .' j.' -
J
EVENING PUBLIC LEDGER-PHILADELPHIA, WEDNESDAY, JUNE 8, 1921
i m
n
w
.'! in
lb
W
MM
H
IW--'
kfi, I MARKETMOVEIVIENT 1
If IIP EXTREMELY MIXED
The Giant
ENERGY
Electricity
Wen selected Public
Utility Bonds are attrac
tive investments. A
new booklet, "The Giant
Energy," tells why we
believe this to be true.
A copy will be tent to !'
upon request for 1'F-fV"
The National City Company
Philadelphia 1421 Chestnut St.
Atlantic City Chalfonte Dlock
1223 Boardwalk
Increasing Resistance Shown
Against the Recurrent Raids
of Bearish Combinations
-0
The Situation
Existing Today
In our June Bulletin, just
issued, we have summarized
for investors present busi
ness conditions in America,
and the extent of the cur
tailment of prices of farm
products, manufactured
products and wages. There
are also brief paragraphs re
garding the railroads, public
utilities, our present stock
of gold, and the bond and
stock markets.
Eleven conservative securi
ties are briefly described.
Complimentary copies of
this June Bulletin will be
sent on request.
Hemphill, Noyes C5J Co.
Afonbers New York Stock Eichani
Franklin Bk. Bldg., Philadelphia
New York Boston Sainton
Buffalo Albany Gyracuaa Baltimore
DO YOU?
Do you get prompt and
courteous treatment nt
your bank?
Do you get advice on busi
ness banking problems?
Do you bank with an in
stitution conveniently lo
cated? Do you know the otHcers
of your bank?
The People banking at
the "THIRD" do.
In the Center of ThingM
Opposite Brond Street Station
Third
National Bank
Organized 1863
Now York, June 8. Very mixed con
ditinus ruled in today's stock market,
especially concerning tlic industrial divi
sion H wan In this )iinrtcr of the
INt lnteresr nrnntliMillv rnfivnripil. Move
ment of the rnilronii shore whm very
narrow with Inconsco.uentinl price vari
ations The copper were almost en
tirely ignored. The shifting and re
shifting in the first named Kroup em
phasized the tiltru-profeslonnlism of
the deallncs and reflected the prepon
derance of technical influences over out
side conditions.
The criss-cro currents which ran
through the market throughout the hes
sion "tipplied further evidence of the
growing mental onfulon of the trading
element The erratic character of the
price Ilueimitlon at the same time indi- i
rated the late recovery in jesterday's .
I market was a trifle too rapid, judged
1 from the nature of the morning news.
, 'Ike speculative element. however, '
I seemingly paid little attention to the
developments in regard to the Mexican
"Ituation or the announcement of the
, new (Jo eminent financing program. Of
course, the recognition of Mexico !
conditioned on certain premises, which
I the Mexican authorities have long care
fullv -idesti-pped. invohing the recog
nition cf Mexico property rights. Still
if the Ohregnn pnrtv agrees and i.gns
I there will be accomplished what Ameri-
I inn interests In Mexico have been wait-
ing for j ears.
As to the (roicrmucnt's now linnuelng
program there op poured to be consider-
,iiblc dieriiy of opinion, ulthoiigli in
the lietter informed circles the policy
was regarded progressive and construc
tiw. and very much on the lines (sug
gested by the conservative banking in
terests. Fresh weakening of the foreign
exchange market apparently likewise
only received academic interest, ulthough
employed by the reactionary part us
nil nrguinent for lower prices.
I Following the tactics of the preceding
, sessions, bear combinations and groups
of bear plungers continued aggressive
UIJllB, Ol'l'UlllK UUL 1111.' l'UIll DrUb.-1.
While many of the industrials gave
ground under these raids. Increasing re
sistance was encouraged nil around the
room, which In turn Invited desultory
covering of shorts, but tho entire group
again lacked sustaining power, and
when these demand were satisfied prices
invariably rosed oil again. Still the
growing two-sided character of the
trading Indicated in many respects the
selling movement wos nearing Its end.
Initial price movement was extremely
mixed with pronounced weakness in the
more prominent oils and equipments,
wnue eiscwlicre further rollies were
registered on the accumulated over
night buying orders. 1'ricc changes be
came more irregulur during the active
forenoon. After the early covering
movement had run its course, shorts re
newed their attacks against oils, steels
nndj sugars. Those shares declined 1
to U points with coppers, equipments
and textiles. An opening rate of 7 per
cent for call money uud gains of 5 and
0 points, respectively, for Atlantic
Coast Line uud Louisville and Nash
ville effected variable recoveries. These
were canceled before noon, however,
when oils and steels developed recurrent
heaviness.
TRADING WAS FLAT
IN LOCAL SHARES
Bankers Predict Neiv Govern
ment Note Financing Will
Be Huge Success
II
We Own and
Offer
A Bond free of Pennsyl
vania tax and the normal
Federal Incomo tax that
pays 8T. on the principal.
It costs less than $1000
and will be redeemed at
31100 within ten years.
WlDINl. BLOU, PHIUDUPHIA
AVts 1W Smi Extkjltt
MtwTOM ruuim,.i
M
pBOppi
HI '.Foreign Exchange
Explained
An lnteresilnur bookf
In almpli litniruiii.-
The local market displayed a steadier
tone, but the trading was altogether
colorless and unproductive of ony conse
quential price changes. Nevertheless,
there was u noteworthy nbsence of the
liquidating pressure noted yesterday,
ond while the rail ing power continued
noticeably feeble and the buying dfi
mind again very limited, there was
sufficient Inquiry to keep the greater
part of the list on what may be termed
an even keel.
Tho volume of business wos small nnd
generally in odd lots, whilo the dealing"
were nnrrow and restricted to a com
parativel small number of local stocks.
In fact, what little interest there was
manifested concentrated in less than a
l.nlf lor.en shares. About the onlv
feature of comment was in renewed free
rffcrings of the Philadelphia Electric is
Mies Both issues, however, enjoved
I the same uniform support, which kept
the price close to their previous quotn
tnm Pennsylvania Railroad was also
i better sustained. Electric Storage Pot
tery held ot 10S on moderate transac
tions American Stores was n shade
betted and I. C! I. continued pegged at
I In absence of other considerations
i i lie new (lovemment financing plnn
mine in for considerable discussion in
loi nl banking circles. The proposed new
i note issue, it was predicted by the
leading bankers, would be a big sue-
1 ceAs. John II. Mason, president of the
Commercial Trust Co.. who was closely
Depart-
T.I nlnlntf
important associated wiui me I rensur.v
NEW YORK STOCK EXCHANGE TRANSACTIONS j
Kales
100
100
100
000
2000
100
400
400
200
300
ZOO
100
.100
200
3100
.130
too
.100
.100
.100
ZOO
1200
.1010
200
3S0O
700
soo
400
100
4SA0
200
200
100
100
.100
100
200
1000
2200
COO
100
:ioo
2500
too
200
too
noo
coo
200
300
1700
MOO
200
1700
400
200
400
400
noo
200
2100
100
.100
200
100
200
300
too
1100
100
100
noo
too
800
2209
100
.1200
8300
000
ttsoo
:i70o
100
100
200
coo
700
300
2100
noo
too
4S0O
100
1.300
2000
100
10000
too
200
4700
201)
1300
ZOO
noo
250
300
no
H09
.101)
100
2000
200
200
100
.'.00
300
100
1000
100
1400
3400
.100
1109
.100
1000
300
Dlv.
in!
HI ah
Adams Rxpress 38J4
Aix Itubber 0J
.. Alaska Gold Mines... n
. . Alaska Juneau a M.. 1V
4 Allied Chem ft Dyo... 40
4 Atlls-Chalmers 33
Am Agrlc Chem 3J4
.. Am TJcet Sugar BUS
8 Am Bosch Magneto... 3
.. Am Can 384
7 Am Can pf 83(4
12 Am Car & Fdy 13Jft
. . Am Drug Syn 8
.. Am Illdo & Leather pf 61 V
. . Am Internal Corp.... 3794
Am Locomotive 8J
4 Am Ilndlator 70
. . Am Safety Razor. ... &Yi
.. Am Ship A Com 81'
.. Am Smelt & Rof an
8 Am Snuff 004
8 Am Steel Foundries.. 38
7 Am Sugar rtef 781
7 Am Sugar net pf 0J4
8 Am Sumatra 00
D Am Tel ft Tel 104J4
12 Am Tobacco 13.1
12 Am Tobacco H 133
n Am Tobacco pf new. . . 89
7 Am Woolen 71
. . Am Zinc Lead & Smelt 814
. . Annconda Copper .... 38JJ
4 Asso Dry Goods 31'S
Aepo Dry Roods 1st pf 04
8 Ateh Top ft Santa Fe. 80
Atlanta Blr A Atlantic 3i
7 Atlantic Coast Lino... 8S
.. Atl Oulf & WISS... 30t
7 Baldwin Locomotive. 79
.. Baltimore A Ohio 40
BO Uarnsdale Claita B.... 20 $
8 Bethlehem Steel t
8 Bethlehem Steel B.... 55J
8 Bethlehem Steel 8 pftoO
. Booth Fisheries 374
.. Urklyn Union Gas 3
.. Caddo Central O A n.. 1314
. . California Petroleum . 30V4
2 Cal Zinc, A Lead...
10 Canadian Paclflo ..
. . Central Leather . . .
7 Central Leather pf.
. . Cerro do Pasco . . . .
0 Chandler Motor ....
.. Chesapeake A Ohio.
.. Chicago A Gt West.
. . Chlcnirn Mil A St P.
. . Chicago Mil A St P pf 41
8 Chicago Northwestern 64
8 Chi Pneumatic Tool... M
.. Chi R 1 ft Pac 9V
0 Chi R I A Pac 0 Pf. fl-m
. . Chile Copper
. . Chlno Copper
. . Clev CIn chl A St L .
. . Coca-Cola
Col & Southern.. .
Lew
38tf
30 i
Yi
IV
39V4
33
43
31
39
2S'
B3I4
123 t
8
8114
3Cta
S3!
70
H
..113
.. 37 U
, . 73
.. 20 !i
.. 82',
.. 7
.. 1
.. 37
1 1 '
28 Vt
40 '2
27
35W
0 Columb Gas A F.Icc. . . 674
. . Col Oraphophono .... ?s
7 Col Oraphophono pf . . . 28
7 Consolidated Cltrar ... 2854
7 Consolidated Gas .... 8SI,4
7 Continental Can
.. Continental Candy ... 1
4 Com Troducts Ref . . . . 03
7 Corn Products Rof pf . OW
.80 Cosdcn A Co 28J4
8 Crucible Steel tr,
.80 Cuban Am Sugar 1794
.. Cuban Cane Sugar... 12V4
.. Cuban Cane Sugar pf. 3M4
1 Davison Chemical .... 31
0 Delaware ft Hudson.. 9 J
. . Denver A Rio Grande. T4
. . Denver A Rio Gr pf . . . 1 Vi
1 Dome Mines s
.. Elk Horn Coal 20
8 Lndlcott-Johnson .... 3'i
.. nrlo J3&
.. Erie 1st pf 1B'4
8 Famous Players L. ... 814
. Federal Mln & Smelt. WA
i Federal Mln ft Smit pf 21 Vs
.. Flsk Rubber 13
.. Freeport Texas 14V4
., General Asphalt C0,
8 General Asphalt pf... 024
8 General Electric 120?a
1 General Motors I if, 4
8 Gen Motors deb 0 . . . 0.1
.. Goodrich B F 34
. . Granby Consol M ft M 21
7 Great Northern pf....'U7V4
4 Gt Nor Ore c.tfs 274
.. Gulf State Steel :l2'4
.. Hendec ctfa lC'i
.. Houston Oil
l Hupp Motor Car 11 U
3 Hydraulic Stel 11
00 Indlahoma Refining .. 'A
. . Inspiration Con Cop. . 33ft
.. Inter Con Corp pf . . 10(4
. Intemat Agrlcul .... s'i
8 Int Agrlcul Corp pf . 48
6 Int Harvester now... s7
.. Int Mer Marine 13
0 Int Mer Marino pf . . . 804
.. Internat Motortruck.. 31
.. International Nickel.. 14
.. International Paper.. 01
.. Invlnclblo Oil Corp... 14 H
.. Island Oil 3J4
. . Jewel Tea fi
.. Kansas City Southern. 25
4 Kansas City So pf . . . . 60
fi'i
854
3014
09
38 U
704
905'
SWt
1041,4
13114
1301
80
73 U
8i
384
3154
84
80
24
88
344
77
39
2054
6054
."'Hi
100
34
05
13 ,4
38
4
112
3854
71
28
614
57
7
2054
404
04
65
32
8554
lift
24 ft
40'2
27
36
57
6 Ji
28
285
85
2!4
1
08'4
2714
834
17
lift
37 ft
3154
05
4
1
174
20
C3
13 54
10 54
8054
854
24
13
1414
6054
024
10
0.1
31 ft
21
87
274
32 !4
15
S3
11
11
4
324
1054
S54
4514
h6'2
13
50
31
H5'4
504
1451
354
8
25
60
1 :30 Net
Clone Chae.
38ft 354
20ft
ft- 54
154 ..
40ft 14
33 ft
43 1ft
31ft ft
39 ft
284 ft
83ft ft
13354 54
8
81J4 1ft
374 ..
83ft- Yl
OS 70
4
ft
ft
3H
ft
ft
V,
4
54
I
ft
u
5ft
8ft
304-994-
2854"
78ft
0054
89'A -
101 ft
173
133
80 -
75-
84
38ft -31ft
84 -80
3'4
85
J0ft
79
4014
2054-
51 -
8554
101
aH
1354 30J4
4
M3
37 ft r
71J4
26
614
57 -
:
27
404-
ni
65
33
554
USt -
3ift-t-
40ft 4-
27
35ft ft
87- ft
8 54- ft
S 1- lj
20 ft r 1
85ft 1ft
4254 !'i
1
5!j
9S54 4
27 5
84 14 -
75i
12 -
3S -
3154
95
ft
lft
184
20
es -1354
19 ft
O854
6ft
34 -
314
14ft
C0J4
034
1204
10 -8.1
34ft-.
21
U7 -
274 4
3254 -15
-6254-
1154
11
4
334
I0ft 855
40 -s7
-13
50J4
31 -
lift
3ft
8
25J4
60
Dlv- ..I u
RrIm In 4 'h
4100 4 Kelly-Springfield Tire. 37
300 . . Kelsey Wheel J'
800 . , Kcnnccott Copper . . . !?
301 .. Keystone T A R "
200 .. Lackawanna Steel... 'ft
300 2 Loe Rubber Tiro 28
100 3.80 Lehigh Valley
ft
,
51 1
14 1
14 1
4
ft
ft!
1
ft
24
6500
100
700
300
100
300
100
17500
200
6000
300
100
200
200
200
300
100
100
200
100
100
too
100
too
200
100
200
1100
100
too
200
300
700
100
100
4100
200
200
100
300
100
6(rn
14600
4200
COO
100
200
600
300
2500
600
109
100
.100
800
200
000
309
1800
200
100
8500
1700
900
400
300
100
400
1100
I1400
1200
600
100
200
100
31400
100
300
200
100
0000
800
1500
400
2800
030
300
1OJ0
300
1900
100
2800
1309
1600
500
8500
100
200
10JOO
1U0
800
800
400
800
209
209
200
509
300
300
140U
300
V 100
1UUII
1700
2000
100
100
100
2 Locwe Co 10?
12 Lorlllard Tobacco ....150 ft
7 Louisville A NashvlllelOO
7 Manhattan Kiev guar. 40
.. Marland Oil "
.. Maxwell Motor 3
. . Max Mot 1st pf ctfssta 4J4
12 Mexican Petroleum ..!J
2 Miami Copper
.80 Middle States Corp... 1254
.. Mldvalo Steel 3
Minn A St Louis "ft
. . Mo Kansas & Texas.
. . Missouri Pacific . .
. . Missouri Pacific pf .
8 Montana Power . . .
. . Montgomery Ward
. . National Acme Co.
2ft
. 3174
, 39
. 63 ft
, 174
. 184
.118ft
.110
. 3054
, 63
. 70
. "ft
. 59
National Biscuit
National Biscuit pf.
Nat Cloak A Suit...
Nat Enam ft Stamp
National Lend
Nov Con Copper. . .
N O Te A MnX....
N Y Air Brake !4
New York Central.... 68ft
.80 New York Dock 31
8 New York Dock pf . 53
.. New York N H ft H.. 18
7 Norfolk A Western... 034
8 North American 67 ft
7 Northern Paclflo ?&?
8 Nova Scotia SAC... 2ft
.80 Nunally Co 054
.40 Okla Prod A Ref 3
2 Ornhnum Circuit 344
8 Otis ntcvator 140
2 Owens Bottlimr 20ft
. . Pacific Dovel Corp. . . . 13ft
B Pacific Gas ft Elec. . . . 49
.. Paclflo Oil 334
6 Pan-Amer Petrol .... 59ft
n Pan-Amor B 6354
2 Pennsylvania R R.... 31 ft
.. Penn Seaboard Steel.. 8ft
.. Peoples Gas Chicago. 495-4
. . Pero Marquctto 31ft
.. Phillips Pet 21
.. Plcrco-Arrow Motor.. 20ft
.. Pierce Oil 8J4
Pierce Oil pf 84
Pitts Coal pf 87V4
Pittsburgh A W Va... iv
Pullman S4
Punta Alegro Sugar.. 29
Pure Oil soft
.. Ray Con Copper 13
4 Reading 69
. . Remington Typewriter 30
.. Rcplo Steel 34(4
.. Republlo Iron A Steel. 54 54
20 Roval Dutch NY 68ft
.. St Louis San Fran... 23ft
.. St Louis southwest... 26ft
.. Santa, Cecelia Sugar.. 2ft
. . Seaboard Air Line. . . 5ft
.. Senrs-Roebuck 7054
.74 Shell Transport 44
.. Sinclair Oil 23ft
4 Southorn Pacific 74
.. Southern Rail 2054
. . So Porto Rico Sugar. . 50
7 Standard Oil of N J ptl08ft
7 Steel Tube pf 70
7 Studebakcr 72
1 Submarine Boat Corp, 04
.. Superior OH Corp 5ft
.. Superior Steel 1st pf.. 95
.. Tenn Cop A Chem.... 854
3 Texas Co 33
.. Texas ft Pacific 32
1 Texas ft Pac C ft O.. 2354
8 Tobacco Products . . .
. . Trans Con Oil
.. Union Oil
10 Union Pacific
. United Alloy Steel...
8 United Drug
8 United Fruit
.. United Rwy Invest..
3 United Retail Stoies.
. . IT S Food Products. .
..US Ind Alcohol
..US Really it Imp...
8 U S Rubber
8 U S Rubber 1st pf...
..US Smelt A Ref. . . .
8 U S Steel
7 I'S Steel pf
4 Utnh Copper . . . .
. . Vanadium Corp . .
. . Va-Carollna Chem
. Vlvuudou Inc
. . Wabash
.. Wabash pf A 2115
2 Weber ft Hcllbroner. . 13
. . Western Murylaml . .
. . Western Pacific
7 Western Union Tel..
4 Wtstlnghousd H & M
. Wheeling & Ml
. Wheeling & L E pf..
4 White Motor
.. White Oil Corp 11
. . Willys-Overland 7 4
8 WjlBon ft Co 31
G Worthlngton Pump .. 47ft
s Woolworth F W 114
. 84 ft
. 8ft
. 30
.117 54
. 22ft
. 90ft
.108 ft
. 9ft
. 58
. 18
.. 60
.. 40ft
. . olft
.. S54
. . 33
.. 79ft
,.107
.. 63ft
. . 20ft
. . 29
,. 7ft
.. 8
10
20 ft
88
45ft
05'
10
34 ft
Low
30
83
19
13ft
43
38
51
1054
150ft
101ft
40
17
3ft
74
MX
21
r
25
lift
3ft
31
39
53 ft
174
18
110 ft
110
30ft
63
78
lift
60
80 ft
68ft
28
53
IS
034
5754
70
38 ft
Oft
3
2154
140
39 ft
13 ft
49
33 ft
604
69
34
8ft
49ft
21ft
21
19
8
6t
87 ft
38 ft
98ft
38 ft
30
13
68ft
19ft
24 ft
51
57
33ft
26
2ft
6ft
75ft
.I54
21ft
73
20
60
100ft
70
70
0
&ft
05
ft
33
31
33
54 ft
74
10
116ft
10
9054
1054
ft
6654
17
69
48J4
60ft
98ft
32
78
107
51
2854
28ft
7
7ft
21ft
13
94
25 ft
88
46
0ft
10
33 ft
10ft
78
31
47 ft
114
1 :30 Net
Closo Chge,
30ft- V
83
10
1? r
43 -
38
61
10 ft-
150ft-
100
40 -
17
3ft
4ft-
146 -
31
13
35 -11ft-
3ft
31ft
J4
76
1154
60
00ft
68J4
31
53 -18
-
us:
87ft 1
70
38ft- ft
054 - 54
1
54
lft
54
ft
6
14
54
'4
1
54
"ft
ft
4
54
i
lft
1
?4
54
1
V
lft
lft
54
4ft
3
54
3ft
3
ft
54
1
1W
ft
14
ft
ft
1
3ft
ft
54
-- l
21
140
39 J4
13 ft
49
33
67 -81
-34-
8J4
40ft
21ft
21
104
8 -64
87ft
29
-30ft
13
09ft
10ft
24ft
614-6754-
23ft
26ft
3ft
5ft
78ft-
44
21ft-73-2054
60
10654
76
71
64 ..
5ft- U
95 - 2
8ft .
33ft ft
22
23 - !i
84ft 54
8
20
117ft lft
20 - 3ft
90ft r- 154
100
954
57 54
17 ft-
69 ft
48J4-
eift-
9814
33 78ft-107-63
-284-28
ft
7ft
8 4.
21ft
13
10
35ft
88 45
Oft
16
34 ft
10ft
7
34 7ft
114 f
STEADIER TONE
N CURB MARKE
Volume of Business Small and
Generally In Mod
erate Lots
Xcw York, June 8. A Bteadicr ton"
wns shown In the market on the I5ronil
Street Curb In today's trading, but the
oluino of business wns small, the buy
ing gcncrnlly belnff In moderate lots and
buyers being not disposed to advance
bids In order to obtain securities. There
was no spcclnl pressuro In any Issue und
In most enses prices showed little change
from the range previously prevailing.
Anglo-American was steadily hold,
having pnsscd over the period of pres
sure resulting from the announcement of
tho now stock Issue nnd sold today nt
IB 14 to ltVJi. Standard Oil of Indiana
was In moderate supply, with trading nt
OT'Js to G7U. Elk Basin continued to
be influenced by the offer of new stock,
the present shares yielding to G nnd
the subscription rights declining to Yt.
A little interest was noted In Ilynn Oil,
which sold nt Sk. Simms Petroleum
wns fairly cctivo nnd strong, ranging
from 78 to 8Vi. Marncalbo showed n
steady tone, with pales nt 2oVi- Cnrib
Syndicate milled from 0 to 04. In
ternational Petroleum sold nt 14 U to
Dealings In tho Industrial issues were
small, consisting chiefly of hundred
sharo lots. Olcn Aldcn Conl was truded
In nt 4H1 nnd 41 1.4. nnd Southern
Coal nnd Iron again hold nt 4 to 3V4.
Reading rights were o,ulct, with n small
amount of business nt lfi. Intercon
tinental Itubber ranged from 0 to 8.
Sweets Co. of Amerlcn wns unchanged
nt2. Acme Coal sold ntl. United
States Ship Corporation yielded to a
new low record ot 3-30.
INllCSTItlAM
. n
; it
, 4
Acmn Coal
nmpfre Food
Glen Aldcn Coal ...
Inter Ilubbar
Perfection Tiro ....
neadln rights ...
Southern C & I....
n aetn to i,
U S Dlitrlbutlnir 24
V H Ship Corp ;
V H Stenra A
United Profit Bhnrlnu ... IN,
Universal Gum 11
STANDAlin OU.S
Anslo-Amer Oil is't
Stand Oil ot Indiana . . 07fe
INDEPENDENT OIIJJ
11 IS
Low A. M.
11 llf
o-.ii
1 A
ir.i
21
I
K.V4
07 '4
Allied Oil ,
lUltlmorn Pet .
Hoono Oil
Ilonlon Wyoming
Carlli Syndicate
Creole Byd
, oil .
4
nH
1
st
II 5i
3
n
ft
LONDON STOCK MARKET
Commodity Markets
i
GRAIN MARKET
eliinnu. r,.. I? lelinH. . .,,..,..1 ....
4,. 1 , -itH4i(;u, .juut! o, IMUUt nvu.iui. 111-
cmingeu to 'tjc lower lor juiy nnu ',jjc
off for September. Immediately after
Sentiment Was More Cheerful De
spite the Mixed Price Movement
londou. .June 8. hile the
Exchnnge markets were mixed today,
. . t il .. 4.U -. fluniclnn I
sentiment was cneeriu, uu -' ,ho opening, the market had a quick
or tl.e row miners usiun . "'; rally because of light offerings and little
men taKe a oie on !,. - 'scattered buying, encouraged by the fear
proposal. The oil group was ttrong, that exc(a,,T0 ,, ,n the 8oiltlrat
with trading more bti'-k. Shell irons- . , lnt. , ... ,,,. nn. ,nillrn,
i 1
! Jobber reported n cood demand for spot
I coffee ut firmly held pi ices.
Yeit ilftat Toda'
fl.ntuu .
. ... 7,0f7io:i
7 :i.iii
7.704; 7J
Julv . . .
SeptHinLrr
l)e ember .
.March , . .
Mild.
iy' open
n .v.; 'if 03
II Mlll
oil (.'roup was .strong, that exc(a,,T0 ,, ,n the fj01ltra
bn.k. Shell lrnns- , ,terfcr .,th harvc,t nml ,,.
port and Traatng was o jo-iu uuu .iv
lenii Tagle C5s. Induhtrlnls also were
firm. Hudson's Hoy wa? 0 13-10. Gilt-
edged Investment issues improved, not
"".. '""."'" an uinens nient i urine u.ir-lonn limineine. com
1 ""' it .v... i
men will And It nf srea
Bent Irei? upon reiuet t ir booklet
Wm-H.McKenna&Co.!
221 S. 15th St., Philadelphia, Pa.
llrll Trlrplionn l.ociut 177M
GE0.A.HUHN & SONS
STOCKS AND IinNDI
Member at (he I'hlladelihlii. New
York mid rhlruxo Stork r.irh.iniee
New York Cotton Krli.wi-i
Commluion Orders Executed In
All the Principal Markets
Liberty Donda Bought and Sold
liellrrur Court Uliljr.. HIS Walnut fit.
N. Y., Ill llroudnuy. Atliinlle Cltr
AmlmuUor Hotel
withstanding n continued rush of new
borrowing. Continental loans "ere
steadier. , T
Dollar descriptions nnd .lupanese
loans reacted ft 0111 the top in sympathy
with New York exchnnge. Home vails
were better und support waa given to
Oi-nnd Trunks and South American
Kaffirs were hard on dividend hopes.
BAR SILVER
London. Iun S - liar blU" was unrhan
ed hire tclny nt 3lvd.
Earnings
April Railroad
New orl(. J'in 8 Nit P'r",,,n'1 tncnmn
... ir.T rn fi,.M IOr April . ir... - - Ji
20
MONTHS
to py roranyitockor bond.
Purdltirr iweivrs dividtndi.
Wntt for booklet IRtE.
RODNEY &. CO.
j j Dtoadway.NewYoik
Acme Tea 1st Ifd.
Rendlnff Term. 5s. 1941
Philn. Co. Cons. 5s, 1951, Stpd.
HENRY 0. Q0ENNING & CO.
STUCK EXCIIANOE I1U1LD1NO
Ulret 1'rlvme Trlephune to New Yocw
Hemberii I'hlU. Hlock Eichuut
C. S. PATl'ON & CO.
3D & CHESTNUT STH.
BANKERS
RoeeeMor lo
"tlelJl
SA1LKK A HTEVKNHON
eke bo
riiiu,
ste
usht and iiafil
Stnfk Kxehtume
menting upon the new tlnaneitig plan,
said :
'"Die first step in the refunding of
the Victory Liberty Loan has now been
taken by Secrcttio .Mellon through the
offering of the I'nitcd States Treas
ury u-Ji per cent note Series A. which I
was announced this morning I pre
sume the secretary will expect nhout
two-thirds of the offering to go into
tht. notes nnd the other third tntn rhft
!U, Dor ilint port Hli!lt.tu .vlilnli .rrM.1,1 I
mean the Third 1'edenil Ilescrve I)k
trict's iiuntn of notes would aggregate
about S'JJl.onO.OOO. and I urn quite
sure this sum will be greatly exceeded.
"The teiniK of the new note are ex
actlj right, the rate meets the market
nnd I nm inightly glad the Secretary
did not mnke the rate higlier as I think
a 0 per cent rule too high for the (Io
eminent to pay in addition sue It a rnlc
would mnke i oinuiei'i'ial bonowing
more difuViiit nnd more costly
'IM... ...,..., ,in l,n 1.1.. !.., I.
.11.- ll'ui . ..l; ll.i- IIIKIlCI-l, U1HI11' ., .. it ..
security in the world nt a moht attrne- A bill proposing tnat tne fovernmonc
tive rate and I should not be surprised issue to former service men 5 per cent
it me Miusirijiuoiis in mis iiimrirt
it tMiehlnston " $i7.3Slobo , ni
Slifl?lt ot " f l.00( In Aprl' 10J0 These
fc sVAou'irF7''!-11?
ae ni!iiini n .urll'V. "' 'r''"'' '":".'
Anrll
April. ltliU
tnu'i wa
und cxpene
S3li.140 000.
I'or the jn.l roads. irr"'s re
uK.ain.l
I3IH. liOS. 000 nuolnut J3u tUP.fiOO
- - 111 UllU I II III
iJUM nuu v
NEW BONUS BILL IN HOUSE
Volk Asks Bonds or Pald-Up Insur
ance for War Veterans
Washington, dune 8 -illy A. P.)
cheeks
cheeks
1.711'.. ;
17.13;
1UMI:
:iH 15 ;
17.:t.1
the quality. Receipts Inspected jes
terday, thirty-seven enrs; last jear,
eight cars. Cash market firm for win
ter grades nnd higher for spring. Ex
port sales made here yesterday, 75,000
bushels to Montreal. Sales in nil posi
tions estimated nt 500,000 bushels.
Legislative news suggests weakening
of opposition against grain exchanges.
Trade likely to bu restricted, ns there
will be ft Kcueral disposition to keen
eluso to shore awaiting tho Government
report, unless some strong incentive Is
developed during the session.
Corn started V4e lower for July nnd
'ie to l,(.: off for September. Houses
with Eastern connections bought on the
decline nnd forced n recovery.
O.Us started e to e lower, with a
light, mixed trade.
COTTON MARKET
Now YotIj, Juno 8. The opening of
the cotton market wns a narrow uffnir
this morning nnd first prices were only
1 point higher to 2 points lower. South
ern wire houses nnd spot concerns sup
plied tho offerings, which were absorbed
bv Livemool and Iscw Orleans Inter
cits. Most of tho Southern crop and
weather news was favorable. After the
start tho market remained dull, withijicmand
prices nbout a to points under yestcr- n-aoiei
FOREIGN EXCHANGE
New Yorlt, June 8. Tho loreign ex
change market opened with tho princi
pal European exchanges lower. Sterling
wus off IVz-j cents from tho previous
close; francs wore off 1-1 point? .ind lire
off ft joints. Marks declined !i points
to 140'.a.
Quotations were: Sterling cables
.) 0'i, demand ..; lranc calles 7.1)8.
i.Ui ; llolgiar cables 7.1lt7,
7.00; lire cables 4. SO, checks
Swiss cables 17. IS, checks
pesctu cables IL'.SS, checks
guilder cables, 33. 50. enccks
Stockholm cables i!l.-tfi. eheeka
-- hi; tnristiunia cntien l-i.po, checks
II S5; Copenhagen cubic) 17. -10. checks
. 4,S.l '
mams l.w,
Central European exchanges were;
fireek, 0.05; Itumiinlnn 1.00 ; Iliilgnrinn
l.'J5: Austrian .23; Poland .00;
Czecho-Slovakia 1.43.
At noon tho major exchanges were
weak in tone. There were declines in
all the Issues with the exception of
innrhs, ijuouiuons were ; Sterling ca
bles 3.77, checks 3.7fl'i I Trench cables
7.(13 v checks 7.ri2iH; Helginn cnl)1(H
7.03, checks 7.02; lite cables 4 77
cheeks- 4.7UMs ! murks 1.4034. '
Montreal. June 8. Tho rate of pre
mium on New York funds here today
was 12 1.10 tier cent. The rnte nf dis
count in New York today on Canadian
funds was 10 25-32 per cent.
1 KSTKRUAY'S CLOSINQ QUOTATIONS
Sterling' trnncs Mre (3ullder
a.NU, ii 4.81 33 4n
Denny
uik iiftiin ret .
Elk llanln righto
RnKlnecrii Petrol
I'cderal Oil
iiuueon uu .; 1
Inter Petrol 4.
Lance Creek H
Marncalbo Oil 2i
Mountain Products 11
Noblo 25
Noco Pet pref -t'4
Producer 1 Jleflnere .... 4
Ryan Cone OH
Solt Creek Prod 11
.Simms Pot S'i
Skelly Oil 4'
Texon
L'n Texas Oil '4
United Hojalty 2
MINING
Atlanta 1
HlK Irfdge
Ilooth . 3
Boston i. Montana 00
Caledonia Mining .... to
Cnndelarla Mln . . fill
Cortez Silver in
Treason Gold Mi
Crescent MacNamaru .... S
Ilurolca Croesus 01
i;ur-ka Holly IS
Uoldfleld Conn 7
GoldHeld Development .... 1
Uoioilelil Florence -.
Goldfleld Ken anas I
Uoldfleld filter Pick ... 4
C.nldllelil Zone 13
Circut llend 1
Heclii Mlnine 3'4
Jumbo Kxt '
Kno-c Divide 17
MncNamara t'l
MuKina Copper Ill
Mnrnh Mining '
Molhir I.i'de (new) .... &
National Tin Ii
Nurlh Star a
Rochester Mines ... d
San Toy 3
Sliver King Divide 1
Sllvnr Hills Nov 2tl
S Silver Lead
Huccoks Mlnlnit a
Tonopah Ilelmont 1
Tonopah Cash llo . S
Tonopah Divide 1 Ai
Tcnopan Kxtenelon .... 1
Tonopah Jim llutler I)
Tonopah Midway 10
Tonopah Mlnlnit 1 A
Tonopah Mlzpah s
Tonopah Montana 7
Tonopah Hescuo Uula ... Is
United Eastern 2'i
Vlctorv ?
West End Con 1
White Caps
Wllbcrt !
WONDt
Amer Tel As 1022
Amer Tel 0? 1U24
Anaconda .8 102U.
Armour 7h
Can Tac 8s . . .
Copper KP0" os ju.
Copper Export 61 1023
4
6VI
78U
n'i
a
2SSi
ii
11
7s
I
J?
1
si
a
no
10
311
73
1
s
si
Ut
7
1
27
1
I
15
1
3'i
n
in
11)
in'i
ri
D
a"
11
3
1
23
a
lft
n
1
lft
11
10
i'i
K
IS
2ft
a
a"
1
27
1
4
15
1
3'i
R
17
It)
1Mb
3
tl
a
1
20
5
1
o'V
10
R
a A
2ft
3
Copper Dxport fis 1024
Copper Export Ss 10J5.
Oen Asphalt hs . .
Grand Trunk OH
lliunme uu i
Holviiy s.
Southern. Ry
stand uu. j
T OMiH
. 00
. 1)4'
U25,
03'.
. 01
.100
004
. 00'S
1011
mY
. IIB'i
11 m!
054
OAK
04,
02H
04?
1UI.I
11 0
00
00
ino
02
fi.-'i
05H
Stand Oil N Y 7 102tl ..lOO'i 100 100',,
niuiii. ";. v ,nji mill in'tli inllT
ur,l ORti nnn
. oos noS ooh
. . . 01 nt ti4
OS's US' 0S
100 110 ',4 100
Stand Oil
Uiin II I ,
Svslft t Co Be
Swltt ft Co 7s
Texas Co 7s .
Vacuum Oil is
0S
02l!
03
IH '4
100
UO'i
onvi
oo
inn
0HV4
03 V,
x,
o.m
ion
Philadelphia Stocks
1 IS
P. M
I huh low
HO Am Ktrs.. Wh TiS'im
17 Am Ons.. 28 29 2S
200 Klec Stor.lOS 108 108
Net
then.
5 V
3. SI1,
4. SI
4.63
reached the hundred-million mark. Tim
Ihsue is bound to be a huge miccos."
BANK CLEARINGS
Hank r.earlngs toituv 1 )nip.ired u.th r ir
teipondliiK ay Mat two jesrs.
1021 1020 I'.l 111
Phlta Jft7,lns,07r. JS7 20S r.S'j 173 r.tl 203
Hoton 411 012.070 57 2411 IIHH
I, alto 11.0hH.Sfi7 It.fi27.3a4 ..
I'hlcas-o 88,atlt),0SU 07.220 3(111
MONEY-LENDING RATES
r.W VOKK Money on call both classes
of collateral, opere-d today at 7 per cent
for lendliiB and renewing
lAimlon, June S -Monev 4 rer cent,
eount rates. Short bills, Sh per cent,
months' bills, 0 per cent
Paris Bourse Improved
DIs-three
Paris. June 8. Prtres
thA ltouriei fodsv. Three
57 f 20c. Exchangs on Lon
Plve per cerit loan, S2I 70c.
quoted at 13f BOc.
ere
berf.
neJi
JU
Improved on
cem rimes,
411 S30.
dollar was
tax-exempt bonds in amounts of not
more than $7.r(0 for servlco overseas
nnd 5000 for home service has been in
troduced by Representative Volk, of
New York.
As nn alternative to tlm Issuance or
bonds, tho bill also would provide for
paid-up insurance.
SEVEN TAKE EXAMINATION
Two Phila. Women Among Contest
ants for D. C. Policewoman
Seven women took an examination in
the Federal IJulldlnc todnv for tho posi
tlon of policewoman In the District of
Columbia. Two are I'hlladelphlans.
The examination, given by tho Fed
eral Civil Service, was divided Into both
oral and written sections. Announce
day's close.
The receipts of cotton at the norts
for tho day are estimated at 18,000
bules ajalnst 20,035 bales n week ago,
7-132 bales a year ago and !!, -101 bales
two j cars ago.
Previous
1 lose open
12 38 li.co
13 S4 1HS.1
13 78 IS 77
13 87 l.t 85
14 15 14 10
July . ..
October
Derembor
January
March .
1 on
P M
12 no
13 38
13 82
13 02
14 20
NEW YORK COFFEE MARKET
New York, dune S. After a long
string of advances, tho Ssntos futures
mnrket declined 1.10 to -100 reis todnj ,
according to a special uiblo received
Just before the opening nf the loenl coffee
luturcs maruet huh morning. This en
couraged some of tlip local traders who
had been tightinir advance here, on 11
theory that Ilrnzil couldn't hold, nnd terV Jt bo
prices worked 0 to 12 points lower on S?dp,"'"r!
iiin 11111. 1 --
Prices worked off 7 to 8 points around
midday on bear pressure of the same
sort which has held the market inclieclc
for some time past. Tno decline In Itlo
and Hautos, after recent sharp navances,
S3 30
Demand
Cubles
TODAY'S OPKN1NO QUOTATIONS
RtArltnr IrrnnrH t.lrn ....... .
. 8.78 7.87 4.7DV4 33 t4
n ion 1 lis ii " S'i'JS
NOON QUOTATIONS
31 3u
Demand
Cables .
Sterling; Francs Mre rjuildere
.. 3.70& 7 02 4.7014 a"
. . . .1 77 7.03'j 4.77 ' '
DIVIDENDS DECLARED
Tobacco Products Corporation, rexulsr
ouarterl 1178 orr preferred, tayablo juiy
1 to stock of record June 17. ''
Hercules Powder Co.. a quarterly of 2 ner
rem and extra of 1 per cent on common
p.iab!r June 25 to stockholders of record
June 13.
Associated Oil Co., the regular nuarieriv
$1 30, payable July 25 to stock of record
June flo
Amer can Express Co rssular ou-uteriv
of 12 payable July 1 to stock of rVeorS
June 17
rtiw juvrr vu i-411 '" 'n yii iki reu, pavalil.
n .iiin,. lu ir '
II) I Co N A 201,, of) .jo ,,
314 Pa It U.. '.Ml 4i 34..
240 Phila Klce 21T5 21 21 1
do pref.. .iT'H jr.'), 20 i'H
Phila It T 17Vs 17'8 17 78
PhllaTrac S3 53 r3 . .
Tono Pel. 1A 1 1 A A
Tono Mln 1 1 1 l
V 0 I... 31'j 34Vj 34..
!M1 iln nref.. ".TC
100 Phila It T 17Vs
3 PhllaTrac S3
400 Tono Pel
25
10
piiii-i)i:i.riii. ivonds
1700 Liberty 2d 4US
20000 Liberty 4th -i'ts
2250 Victory 42'is
3000 Victory 4-)4S
1000 Ilaldwln loco Cs
1000 Hell Telephone s
8000 Pennsylvania fl'js lota
8000 Phila Co cons 5s
5000 Phila Co cons 5s
10000 Phlln Blee. 1st 5s lots
500 Phila 12ice 1st Bs
87.10
87.12
OS. 70
08.30
milt
81
84
GOVERNMENT BONDS
Juno IS
h-si was quiet and about iineh.n.' ""
4. SOa. ilutv tuM rr, ,i?.'!ln
in
lirui Ullll II.I..VI1 Rk.fc.u,.n. . WW. vw, -' - .., VT-. - . . ; ...---
ment of the resulta will be made about Wackened i.j i the demand una ur w S.ff & ft
juiy 10,
fsn
share
united Shoe JIachlnery Co , lemiin
Ills on cuminnn anil 3711. t,nt.
payable Julv S to atoik of re"
T..1.. , ... ......I. nf ..np:
.. 1- ... --,. ij -; . ". ..nm rti.
auces accumuiaiea aivmenos to 12S.B0 tVr
f luar-
reo-
Raw Sugar Quiet
,?. i June.8. Tha raw ,UKar ma,.
to 0.4l!o Ynd BeptembrWo.p rterAU Ad l
msnTby jff ft ..nir fo7 ."hip!
I
The
Panama cou 2s. 10J0 ....
Pansmun re 2s, 1030
Panama eou 2s. 1038. ..
Panama rce 2s, 1088...
Panama cou 3s, 10M
Panama roi 8s 1U01 . ...
Philippine 4s 1084
Phlllppltm 4s, Idas
Philippine 4b 108S
IT H Uov cou 2s 1080
tr 3 uov ree 2 loso
1' H Oov cou 4s 102n . . .
V B Oov reu 4s 10211
D bt Columbia S.OBs 1024
nid
no
B9I
09 'I
09 i
7rt
7(1
su
80
nn',
mo
104
104
02
Ask
10(i
lon'I
mini
100'i
S3
S3
r.viDAi'iVi1.
alaaaBjBamjiSgBaB
1
Safeguarding the Professional
Man's Income
' Some professional men, through
lack of time to attend properly to
their personal affairs, suffer losses
through unwise investments.
By an agency arrangement with
this Company they may benefit by
the specialized and collective judg
ment of a staff trained in financial
matters.
Aside from tne security af
forded, the relief from the some
times distracting anxieties inci
dent to the care of property and
investments is to be considered.
The fee is moderate.
Consultation with the officers of
the Trust Department in regard to
the Agency Service rendered by
this Company is invited.
Member Federal
Reserve System
Capital and Surplus
$10,000,000
EFFINGHAM B. MORRIS, President
GIRARD TRUST
coMrajor
Philadelphia
A.
'mE&sxi&rszzmaux
rJ
"SsSaJSHl
A SPIRIT of helpfulness and
- personal service is a marked
characteristic of this bank's
entire personnel.
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital $1,000,000 Surplus and Undivided Profits Earned $4,400,000
The
First National Bank
of Boston
Transacts Commercial
Banking Business
of Every Nature
Make it your New England Bank
Capital, Surplus and Profits, $37,500,000
Frederick Peirce
BONDS
VOB
Hit Oh tout !!. blU4lfcl
JR. rU 1NVKST
X. VsU MKNT
'illlllllllllllllllllliiiiiiiiiiiiiilllllllllllllliiiiiiiiiiiiiiiiiiiiiiniiitiiiiiiiiiiilllllllllj:
YIELD 7 !
Local Tax Free Bond
We offer n bond nt 27 points under its high prico
record and recommend it for investment. s
J'hM particulars on request. 2
West & Co.
S Ner York Block Uxchns 5
S I'ullndelplilu Slock Kxling
guUUUlllllll HjllllHlliiniiniiiiniiimimmnmmnii 1111.1111?
1;'' vV.'i
,if.4'.!2
-I,.
'"fil
J.''JVit.. ,. ,
.,
1 . . j ...-
. J.jN .v . h,i,AA. Jt 'Wji'ft"'.'
Jt 'WjV.'VWfi' -