Wi
TJ'W
Wffl
-',- ', -V 4 i
f i n
h W
(
-i
t.j
ffr
if
V
IS
r
".
tai
!
i.??. ',,!
H
Y
EVEiNTNG PUBLIC LBDGBIPHIXiADBLPHIA'-TtlESDAT, JUNE 14, 1921
Specializing in
Safety
For 39 YEARS S. W.
STRAUS &. Co.havc been
specialists in a type of in
vestment strictly non
Bpeculntlve,nori.'fluctuat
ing and safe. The success
of this specialized service
is attested by our record
39 years without loss to
any investor.
Our new booklet. "Com
mon Sense in Investing
Money," tells all about
these safe investments.
Write today and specify
BOOKLET 565-Q
SiWSTRAUS-xScxCQ
XeTOSKJIUTlO SSTASUSHSD IH1
Stock Exchange BUg., Phlla.
Tttephuu Srsrcs 561S
39 years without lot
to any investor
STOCKS RALLY AS
CALL RATE DROPS
Sharp Rocovory Set In at Noon
Aftor Morning of Fovor-
iah Fluotuationo
Oopyrliht lB2I.br 8. W. StraoaACn
FRENCH
REPUBLIC
Twenty-Year External
Gold Loan
714 BONDS
Dnted Jnne t. 1021 i
Due Jttn l, 1041
A lreral Investment of Sav
ings BanVa In mini atatea.
i
UlruiriraTroVnoi-l5jxro'a
111
III
I I H
I
auuuuuxruo
1 lr
Not Callable Prior to
Maturity
rrlndpmj iintl Internet PnyaMe
Id v. s. ootd com
Price 95 and Interest
To Yield Over 8
Kindtv esfc for Circutor KS-I4
CASSATJ V CO.
COMMERCIAL TRUST BLDGi
PHILADELPHIA
aiiTi h ol-Pirrsau non sotAMiex
3
On an
8.10 basis
Southwestern Power
Sr Light Compart)
20-Year 8
Bond-Secured Cold Nolu
Secured by First Lien
and General Lien
Bonds in the ratio of
two to one.
Send for Circular
Bonbright & Company
437 Chestnut Street
Philadelphia
Jftw Tork Chlravte
Boston Detxelt
SB
New Toth, ,Tnne 14.- "While consid
erable Irregularity attended price,
movements In today's stock market the
general list displayed much stronger
comeback powers than observed in any
of the immediately preceding sessions.
The feverish fluctuations were a nat
ural aftermath of the violent and wide
spread marking down of security value
sustained In the last thirty days, but
the conduct of the market as n whole
went a long way to confirm the Judg
ment expressed by many recognized re
liable market observers that the li
quidating movement for tho time being
at least had tpont Its force yesterday.
Some disappointment was expressed
during the earlv trading because of the
seeming Inability to maintain the
recovery movement which started In the
last hour yesterdas. In fact, it looked
for a time as If the list was on the
sliding board again when the so-called
Hill stocks suffered another bad sinking
spell. Prices, It Is true, ran off rather
sharply with a cancellation of not only
all the Initial Improvement but a part
of yesterday's late rally as well. It
was obvious, however, that the pressure
uas not of same urgent type as wit
nessed in several of tho previous ses
sions, rather to the contrary, most of
the selling plainly cmlnatcd from the
professional Tanks. There was, of
course, some intimidated letting go of
long stocks, but these offerings were
infinltestlmally small.
As a result, the attacks of the reac
tionists quickly became more cautious
and pressure was automatically with
drawn all around the room, followed at
mid-day by a fresh recovery, which was
given powerful raomcutum by reason of
the lowering of what might be called
the official call loau rutP to (")', per
rent, the lowest for several months.
The renewal rate was again fixed nt 0
per cent, but for the first time in many
moons the supply was far In excess of
(he demand and demnnd money wns
being offered freely in the outside mar
ket at SVi and even at 5 per cent.
Aside from tic easing of the call
mono market, it is oxtremly doubt
ful whether outside -onditlons played
any port in shuping tho course of the
morkct. Technical influences, as might
be expected, were tho real propellnc
'orce, and the over-sold state of the
market was not fully revealed until the
real recovery movement set in around
noon.
The market showed a firm tone at the
opening, but before the end of the first
fifteen minutes, became reactionary.
Fresh weakness cropped out In different
sections of the industrial group, but
the real uneettlilng clement came on
tho fresh slump in tho so-called Hill
Stncki).
Northern Pacific told at the lowest
price since 1000, in which year it sold
at -15, although in the following year,
on May 0, sold nt S1000 a sharo during
the momorablo panic on that day. For
many years in the intervening period it
ranged from 140 to 116. Oreat
Northern at the same time declined
over 3 points. The fresh break In both
was influenced by the belief of the un-
latrntrlaKlA iAtt,rtlnn (n fhft AvAorA pit.
PRICE MOVEMENT
IN LOCALS MIXED
Renewed Liquidation in Penn
sylvania Carried the Price
Under 34
Is Germany
Committing
Suicide?
Is she deliberately ruining
herself to cheat the Allies?
What has been the mean
ing of Wall Street's specu
lation in marks?
See this weetfz
Barron's
At Principal News-stands, 20c
SPECIAL OFFER: You
can have the next six issue:
mailed to you by tending
One Dollar to Barron's, 44
Broad St., New York City.
Philadelphia Office
436 Sansom St
Deepite the small volume of trading
price movement In the local market was
attended by considerable irregularity.
One of the more prominent features of
the trading and which came iu for con
siderable discussion was the recurrent
liquidation of Pennsylvania Rnilroad
stock. This was sufficient to carry the
price under 34, and reflected growing
uneasiness on the part of investors and
i a general switching from stocks to
bonds.
! Another was the Increasd dealings in
I Electric Storage Battery, which appar-
( ntly represented closing out of some
otcr-extended speculative uccount which
had been seriously impaired by the
recent violent depreciation of values In
I the New York market. Under this
pressure and with the buying power
still very limited, the price was forced
down to 100. By midday, however,
when tlie selling was completed a point
ot the loss was regained.
Then there was renewed selling of
Philadelphia Electric preferred, bring
ing the price back to i-'5', equal to the
year's low. Once more the issue was
successfully pegged at that figure. Only
a few shares of the common changed
hands.
ljlsewhre on the list it was a mix
ture of fractional gains or declines.
Lake Superior Corporation dipped under
the 8 mark to 7&. 'American Stores
was well sustained as was American
Gas Philadelphia Rapid Transit
dipped under 17 to 10. Union Trac
tion, after declining to 30Vt, rallied to
81. West Jersey and (seashore on small
transactions dropped $1 from the previ
ous sale to 27.
Pliiladelphia Stocks
sMJlaW
French VA, 1941
At 95 yield orer &
We also have a line of
tongj-term underlying Hall
road Bonds which In our
Judgment are very Date
fovea Unenta.
A bond costing1 !840 gives
an annual Income of J GO.
WlBIMf fUXtttPHIUDUFHUa
XtmNIUitptUn
Ma W inxt Exiliwto
Ktwnm Bammm
MM. IM
rush
00 Am Strs. 58 Mi
110 Am Gas.. 28
C52ElccStor.l0ia,
5G Lake Sup 7
140 Loh Nav.
40 Mlneblll..
8 North Pa.
SSO Pa It It..
100 Phlla Ins
wire.... ni va
15 PhilaElec 21 A
360 do pref..
20 Phlla RT
28 Un Trac.
217 U G I...
lOOtU S Steel
120fU S Rub 50
23 West Jer
& S..., 27
1-15 tft
Lnw V M. chre.
58 58..
28 28 . .
100 101f U
64 (14 01 ..
14 41 44.
70 70 70 ..
34 33?i 33 Vt,
1VL 2li..
25 25 25
10 10 10 (i
31 SOU 31 4-
34 84 34 4- V.
70 7BV4, T54 U
58 58 Vm
NEW YORK STOCK EXCHANGE TRANSACTIONS
Ssle
100
100
90
son
3000
204
t 400
100
1S00
eoo
too
too
tooo
700
too
AOO
too
3300
200
200
too
3M
MOO
1100
SAO
200
8200
200
2000
1300
1000
300
S100
too
100
IS 30U
100
300
729(1
300
1200
11400
2S00
M
tozoo
afto
too
200
100
800
200
100
150D
IftDO
1000
1800
too
200
3000
1(00
100
800
1800
300
'200
870A
100
100
100
100
100
100
100
200
100
2100
300
100
100
3O0
I0
200
3700
13200
8700
100
100
4700
200
100
200
1200
100
2000
200
200
0200
100
1800
too
20200
100
400
11400
1400
100
3600
300
300
3100
200
1200
100
200
100
300
200
100
200
100
300
100
1000
6200
300
200
3700
100
200
leoo
so oo
100
1400
100
10U
300
Dlv.
Ml
27
27 1
tNtt chsns mid by eompnr1on with ltat
! on Ntw Tork Stock Bichanse
rrnxADELmiiA dottdb
Liberty 2d 4U
s.
7500
62000
3000
4500
4000
8000
0000
1000
1000
1000
3000
(
v ti .' n . 7
Jbioeriy ua Yis. ,
Liberty 4Ujrti.
Liberty 4th 4.
Victory 4s
Victory 4s
Atlantic Hef 0
Bell Telephone 7s
Pennsylvania fls
People's Pasbenger 4s. , . .
Philadelphia Elec 1st 5s.
BANK CLEARINGS
86.70
01.40
86.00
86.08
08.86
08.34
00
102
05
58
84
12
7
8
7
7
8
0
It
II
7
4
0
8
7
4
.50
8
.80
1
9
10
i
s
8
10
1
7
.60
60
rtllh
Adams express 38
Advance Rumely pf... 42Hi
Ajax Ilubber 23 i
Alaska Oold Mines .. H
Alaska Juneau O M.. ttt
Allied Chem A Dye... 3U
Allls-Chalmers 33
Am AgTlo Chem pf . . . . H
Am Beet Surar 38
Am Bosch Magnsto,,, 88 Jt
Am B Shoe Fdy now. . 48
Am Can 38 K
Am Car A Pdy UiVi
Am Drur Syn
Am Hldo ft Leather.. It
Am Hide & Leather pf H4
Am Ico 31 W
Am Internet Corp ... 8SH
Am Lin wed 23
Am Locomotive 80
Am Radiator 70
Am Safety rtazor. ... 6U
Am Ship ft Com t
Am Smelt A Rf 3i
Am Bmolt A Ref pf .. 72 H
Am Steel Foundries.. 37J
Am Sugar Ref 78
Am Sugar Ref pf II
Am Sumatra. 68
Am Tel A Tel 104ft
Am Tohacoo 123 i
Am Tobacco B 12 U4
Am Woolen 78
Asao Dry Goods 81 H
Asso Oil 17
Atch Top A Santa Pe. 7IJ4
Atch Top A S V pf . . . . 76
Atlantlo Krult 8)4
Atl Oulf A W I 3 S. . 31',
Austin Nicholas S
Anaconda Copper .... 814
Baldwin Locomotive. 75 J4
Baltimore A Ohio. . . 3794
Baltimore A Ohio pf.. 80J4
Bethlehem 8teel B 83 ft
Brklyn Rapid Transit ION
Butte Copper A Zlno. 4ft
Butte ft Superior Cop. 12
Buttcrlck 8?
Caddo Central O A R. . 1214
Cat Zlno A Lead 4H
California Packing ... 6ft
California Petroleum . 44 H
Canadian Paclflo ....111
Cag J 1 8
Central Leather 37
Central Leather pf... 'tft
Cerro de Pasco 26ft
Chandler Motor 63
Chesapeake A Ohio... 844
Chicago A Ot West pf IT
Chicago Mil ft St P.. . 36K
Chlcaxo Mil ft St P pf 39H
Chicago NorthweeUm 63J4
Cht Pneumatic Tool. . . 87
Chi R I ft Pao 814
Chi R I A Pac6 pf. 61
Chi R I ft Pao 7 pf. 'U4
Chi St P Minn A O... 65ft
Chile Copper 10ft
Chlno Copper 23J
Cluett Peabody 40
Coca-Cola 27ft
Col A Southern 31ft
Columb Gas & nice. . . 85ft
Col Graphophono .... 34
Comput Tab Rcoords 36 ft
Consolidated cigar ... 35ft
Consolidated Textiles. 18 ft
Continental Can 48ft
Continental Candy .. 1ft
Continental Insurance 61
Corn Producta Ref ... . 65 ft
Cosden A Co 31ft
Crucible Steel 87 ft
Cuban Am Sugar 16 ft
Cuban Cane Sugar... 0ft
Cuban Cane Sugar pf. 31
Davison Chemical .... 37ft
Delaware A Hudaon.. 03ft
Del lack ft Western. .320
Denver Rio Or pf... 1J4
Dome Mines 10ft
EndlcoU-Johnnon .... 634
Brie tt
Erie 1st pf 18ft
Famous Players Tj. . . . 61ft
Fisher Body 84
Flsk Rubber 12
Froeport Texas 14
General Asphalt 88ft
General Asphalt pf . . . II
General Electrlo 126
General Motors 10
Goodrich B F 34
Goodrich B F pf 72
Great Northern pf.... 68i
Gt Nor Ore ctfs 36 ft
Haekell ft Barker Car Mft
Houston Oil 64
lft
lift
81
4
33 ft
Hendee ctfs
Hupp Motor Car
Illinois Central
Indian Refining; . .
Indlahoma Refining .
. . Inspiration Con Cop.
. Inter Con Corp aft
. . Inter Con Corp pf . . . . J4
, . lnUrnat Axrlcul 7ft
5 Int Agrtcul Corp pf . . . 38ft
5 Int Harvester new... 86ft
6 int Mer Marine pf . . . . 81
. . International Nickel.. 144
International Paper.. 864
. . Invincible Oil Corp... 13 ft
. Iron Products 37
. . Island Oil 3K
. . Jewel Tea 1J
. . Jones Broa Tea IS
. Kansas City Southern. 344
4 Kelly-Sprlngfleld Tire. 38ft
. Kelsey Wheel 8
. . Kennecott Copper ... 20
. Keystone T A R lift
. . Lackawanna Steel ... 30ft
a Loe Rubber Tire 3
low
38
43 ft
55H
114
31
38
814
27
87 ft
45
37ft
1244
4ft
II
50 H
M4
3IH
22 ft
70ft
70
3
8
38K
73
37
"ft
I
57
1044
123
121
744
31 J4
IS
70
76
6
37 ft
84
38ft
73ft
364
41ft
5194
10
4ft
13
184
13
44
86ft
43ft
tfAft
4
38ft
lift
26
81
83 ft
17
2li
38ft
62ft
56
30
61
1!4
55ft
10ft
23 a
40
27 ft
33
55 ft
6(4
36 ft
23 ft
18ft
46
l!4
61
63 U
7S
34 U
16 ft
10 ft
30ft
37
83ft
320
14
16 ft
63J4
12ft
18ft
60
84
13
14
1
128
J4
31
73
60
26 ft
53
63ft
15ft
"14
81
7tt
4
33 ft
3ft
BJ4
114
38 ft
86
51
144
84ft
18 ft
27
a
1J4
IS
23 H
38 ft
03
l
11 J4
39ft
37
1:80 Nt
Close Cbse.
383
43ft
25 ft
14 -1H
-
314 34
ft
1
1H
14
ft
14
W
1
14
1
!4
!4
"Vt
A
"ft
14
1
4
27J4-
33 -48
-
28 4
125ft 4
6 4
11 -81
.
8144-
'
31ft
72 -3ft4-74
-
1
68ft
1044
133U
13lft 1ft
164 1
aift aft
871
711
76
fl - ft
30ft 14
ft
314 ft
78ft H
364- H
80ft-
83ft t
104 "4
J4 .
13
184
12ft H
58 ft
44H
HI
4 -374
63
84ft-
17
36 ft
67 -314
61
1114
55 ft-
10J4
23J4
40 -27ft
33
3ft-
w
3ft
25ft
184
18 ft
114
01
65ft
31
37ft
10ft-
10ft -
U
Vt
Vi
14
74
Vi
1
H
H
1
ii
4
74
1
3
1
u
3ft
14
14
1
It
14
y
14
14
H
IK
ft
3ft
IK
14
ft
30 -61
37
tm ..
2203
U4 K
16ft K
03K K
12ft
18ft
60ft- 1
84-3
2H 14
14 ft
874 IK
I Sft
0 ft
10 ft
81J4- 2ft
72 - 1ft
60 - 3ft
20ft- ft
53 ft
684
15ft
nii-
80
IU
4
33ft
3ft .
h
1ft
38 ft-
86
31
144
MK4-
13ft-
37
3 -1ft
18 -24
38 ft
68 1B4
274-
Dlv.
Sstes In
loo t.so Lehigh Valley H
1800
300.
100
1200
108
80O
100
860
200
100
100
100
22400
300
500
1300
800
360
300
860
200
800
200U
100
100
100
100
800
300
2300
300
1200
1200
100
15000
100
100
100
4000
300
200
200
10O
3700
6000
600
200
3000
300
200
3300
800
70U
3000
100
200
100
200
3100
300
1600
00
eoo
210
100
300
200
200
3.100
9 T4tWA fin .... SI
1 Loft Candy W
12 Lorlllard Tobacco ....1484
7 Louisville A NaahvillelOHft
10 Manatl Sugar 14
7 Manhattan Elv guar. 37
Market St Ry pr pf W
.. Marland Oil U!4
.. Math Alkali 1414
.. Maxwell Motor 8ft
.. Max M C W VT C B 10
8 May Dept Stores 86
IS Mexican Petroleum ..lJSft
2 Miami Copper !
1.80 Middle States Corp... UK
.. Mldvale Steel 314
.. Minn A 9t Louis 11
7 Minn St P ft 8 St Mo. 61
. Mo Kansas A Texas... Sft
.. Missouri Paclfto 10K
. Mliwourl Paclflo pf.... 38
3 Montana Power 48ft
. . Montgomery Ward . . . 30ft
.. National Con A Cablo. 1ft
Nat Enam ft Stamp. . 41ft
0 National Lead 18
7 National Lead pf 103
.. Nev Con Copper 11
6 N O Tex A Mex 83
8 New Tork Central.... 67
3.80 New Tork Dock 81
5 New York Dock pf . . . . 53
.. New Tork N 11 A H.. IT
7 Norfolk A Western... 3 K
7 Northern Pacific 64
5 Nova Sootla SAC... 34ft
1.80 Nunally Co 8ft
3 Ohio Fuel Supply 44ft
.40 Okla Prod ft Ref 3
. . Ontario Silver Mining-. 4ft
. Otis Steel tOK
8 Pacific Gas A Eleo. ... 51
2.80 Paclflo Mall lift
.. Paclflo Oil 37 ft
6 Pan-Amer Petrol .... 354
Pan-Amer B 80 ft
.. Parish ft Bingham.... 10ft
2 Pennsylvania It u....
.. Penn Seaboard Steel..
.. People Gas Chicago..
. . Pere Marquette
8 Philadelphia Co
.. Phillips Pet ..
. . Plerco-Arrow Motor, .
. . Plerce-Arrow pref . . .
.. Pierce Oil
.. Pittsburgh A W Va...
S Pitts Coal 57ft
8 Pullman 34
Pun to. Alegre Sugar.. 374
4 Pure Oil 38ft
8 Railway Steel Sprint. 7
.. Ray Con Copper 13
Reading 68ft 68
Reading 1st pf 41 41
Hlsh j Low
41 K
104
14
14H
107
43ft
86ft
3Sft
17J4
14
8ft
10
88
1304
30 H
HI
33
10 ft
65
314
18 ft
87ft
46ft
18
114
414
75
103
io4
83
05 ft
81
51
18
MM
81ft
34ft
14
"14
3
4M
10K
81
H14
864
58ft
48ft
10ft
384
7K
48ft
114
80
20ft
30
41ft
74
384
57 ft
14
3714
264
78
13K
34
Vi
48ft
20 ft
30
21
31ft
4714
74
364
1:80 Nt
Clot Chre.
414 14
104- K
Oft- 14
1414 34
108ft 114
43ft 3ft
86ft- 1
3S14 Hi
"
14ft- IK
3ft 14
10
81 1
185ft 3K
31ft-f H
234 W
10ft- ft
63 -IS
314 54
UK- V
87ft- ft
46ft- 14
20ft 114
lft H
40ft- ft
75 -r H
103
104
53 -
68 -
33
83 -
16 -
3K- K
63 - lit
24ft ft
ft ..
44ft 1ft
3 54
10K
51 1114
50
20 -30
31 -
30 -
1M
14
14
a
K
14
IK
K
K
1
K
14
K
14
1
M
14
114
41ft 3ft
Remington Typewriter 184
Replo Steel
Republic Motors
Ropubllo Iron A Steel.
2800 6.20 Royal Dutch Amer. .
114
14
14
1
14
14
300
700
300
000
COO
600
400
4500
200
U4O0
aoo
100
8100
(300
' 300
100
460
500
400
63600
400
100
100
7400
6U0
1300
1200
3000
1300
1300
300
200
40
800
4200
L100
100
400
460(1
400
10400
350
38)00
1600
200
N00
200
100
400
200
100
1100
700
3U0
100
200
100
100
8200
1800
200
1U0
100
700
33
14
48
86ft
10 K
23 K
30 ft
35
tfl Joseph Lead .
. St Louts San Fran..,
. S' Louis San Fran pf .
. . fat Louis southwest. . ,
. . St Louis Southwest pf 35
.. Saxon Motor Sft
Santa Cecelia Sugar.. 341
. Scars-Roe'buck 78
.. Seneca Cop Corp 16
.. Sinclair Oil 31ft
.. Sloss-bheffleld 34
. . South Porto Rico Sug. 45
4 Southern Paclflo 734
.. Southern Rail lift
. . Southern Rwy pf 43ft
6 Standard Oil of N J. . .180
7 Standard Oil of N J pf 106
i Stewart Warner Speed 33 ft
. . Stromberg Carb 86
7 Studebaker 774
.. Superior Oil Corp Sft
6 Superior Bteol 38
.. Tenn Cop A Chem.... 74
3 Texas Co 31
.. Texaa A Pacific 31ft
1 Texas & Pac C A O.. 23ft
6 Tobacco Products .... 64ft
.. Trans Con Oil 8
.. Union Oil 30K
10 Union Paclflo 117
.. United Alloy Steel.... 23
8 United Drug- 30ft
6 United Dye wood 81ft
United Fruit 1064
3 United Retail Stores.. 57ft
.. U S C I P AFdy 18ft
U S Express 54
..US Food Producta... II
.. U S Ind Alcohol 66ft
. U S Realty A Imp. ... 47ft
8 U 8 Rubber 614
8 U S Rubber 1st pf.... 044
BUS Steel 76ft
2 Utah Copper 50ft
.. Utah Sec ,... 10
.. Vanadium Corp 37ft
.. Va-Carollna Chem ... 38K
.. Vlvaudou Ino 7ft
.. Wabash pf A 30ft
2 Wober A Hellbroner. . 13ft
.. Wells Fargo Express. 65
. . Western Maryland ... 10
. . Western Pacific 35ft
7 Western Union Tel... 87
7 Westing-house A Brake II
4 Westlnghouse E A M. 45ft
.. Wheeling A L E S4
4 White Motor 38ft
.. White Oil Corp lo4
. WlIlyB.0erland 7K
.. Wlllys-Overland pf ... 38ft
5 Wilson A Co 36
8 Woolworth F W IIS
6 Worthlngton Pump . . 45
18ft
231
14
46ft
544
10ft
23 ft
30
34 K
334
3ft
314
73 K
16
3114
34
45
114
lft
43 ft
180
105 ft
3.K
85
75 ft
Sft
33
IK
33 ft
31ft
23 ft
54K
IK
18ft
115 ft
33
Oft
81J4
106ft
554
1314
64
18K
55
464
57ft
Mft
15 K
50ft
10
27 ft
38K
1!4
20 ft
13ft
55
14
35JJ
87
1
45
84
33 ft
10 ft
IK
33 ft
36
113
45
14
ft
14
114
14
114
1
14
IK
1
14
1K-
26K
57ft
13 -
27K
38 -7
-13K
68
41-
18H
324
14
474
22 ft
30ft 34K
33
5ft
3ft 1714
15
46
K
ft
180 33
"14 1ft
J4 14
2S
74
34
31J4
23
6514
14
20K
116K
18
10 11
1
'K
114
14
14
14
K
-43
ft
- .. Jf
FIRMER TONE TO -J&--J
DEALING w 1
Moderate Recovery In Cities
Sorvlco Shares-iTransac-
tlons Extremely Small
New York. June 14. The market on
the Broad 8tret Curb showed a gen
erally firm tone, but the trading situa
tion was still unsettled by the violent
change in the position of the Cities
Service Issues from the levels prevail
ing nt the end of last week. Cities
Service old common stock today ranged
from 137 to 110 with a rally to 125
and tho bankers' shares which sold at
12 yesterday were traded in today at
14 and 13 W. Tho preferred stock sold
at 40 to 42. These recoveries, how
ever, vrero without full significance as
transactions wero extremely small and
the market today was not tested by any
large offerings of stock as it was yes-
ter"ar' ,. -i
Other oil stocks were generally actlvo
with n fair amount of business at Blight
advances. Low-priced Issues were
moro prominent. Hudson Oil was the
feature of that gToup, being In demand
on th statement that a spedal meeting
of directors will be held In a few days,
to consider taking over additional
acreage.
Elk Basin was steady, selling at 7
nnd 0 and Slmms Petroleum was in
good demand with a moderato amount
of business at 8. Standard Oil of In
diana sold at 07 nnd 07. There was
a small amount of trading in Maracaibo
at 24i and 24. Industrials were quiet
and without special change. Southern
Coal and Iron continued firm, selling at
3 and Glen Alden Coal was traded
In at 40 nnd 40. Car Light was
heavy selling nt 1 to 1.
American
12.
Acme Coal
Auto Ful
Tobacco coupons
INDCBTRIAIiS
British
sold at
nrlt Amer Tobacco eoun
Car Llshj
Umpire Food .,
Otan Aldan Coal
Chi , a III
Parfaetlon Tire
Radio Com
Radio Com prat
Southern Coal 4b Iron..
Stand Com Tab
Standard Part
U S Ship Corp
U 6 steam
United Profit Sharing .
STANDARD OILS
Antlo-Alrmr Oil 18
Stand Oil of Ind 67
INDEPENDENT OfUS
Allltd Oil.
Uoona Oil 1
Doaton wyomltnr ....
11-80
lllah Low A'. M.
89 60 , 68,,
12U 12U 12J1
IU 1H 1H
! oft 40& 40$
;" I84 S
: i iI il
2 3 3
8W Stt 3V4
, M 88 . 60
. SSH 06 8J4
i Ji
ift A i1
18V
07
1BK
67
Carlb
Cttlea
lynd
Jarvlea (old)
72
. H
1ST.
Cities Sarvlea "D" ctfs... 14H
Cltlaa Service pref 42H
Creole S-nd 3H
Denny Oil
Kile Raaln Pet
Enalneera Petrol ....
Federal Oil
Granada
ourray Olllaaple
Hudaon Oil
Int Petrol
Maracaibo Oil
Mexico Oil
Mountain Products ..
Noble
Producer ft Heflnera
Bait Creek Prod ..
Blmtns ret
Rkelly Oil
Texon
Un Texaa Oil
4 4
'4
69 73
110 1Z6
13U 10i
40 2S
3H 3i
ft ft ft
" "a
1 1H IK
4 8M 4
11U HU 11U
lsft 184 18H
24U 28 28
14 1 1
CH ft 6K
SB IB 24
":;; i m m5
8 n 8
iiiii 1 'z
MINING
Alaaka Dr Columbia ft
Atlanta 1
Booth 3
Doaton m Montana ei
r-alailnnli. Mlnln .. . D
HlCandtlarla Mining 34
J? I Cortes Silver 76
4 Cresaon Gold IS.
t Creieent McNam&ra. 9
'
3ft 13(4 iDundee Arts T(
inaaiO. iJ?lEureka Croeeua 36.
i!?! " (Eureka Holly W
oi;
i-
13ft
54
18K-
564
47ft
60
30H .
10
3714
20ft .
13ft
55
K
-
1 -46-
8M
33ft -0ft
1K
33ft
35
113
46
K I Clold Cons
i Oold Revel
',? I Ooidflfid Florenoe
14
14
14
14
14
7
1
23
Oold Kewmmi 1
Oold Blver Pick 6
Oold Zone 14
Oreat Rend 1
Heola Mlnlns 8H
Iron Bloaeom 10
Jumbo Extenilon 0
Knox Divide 16
MacNstnara 16
Marah Mininr o
Motnar lao new 4;
iz
T U.I nm. Tin
14 . Nevada Onhlr
&
IK
ft I New Cornelia JoVi
ft North Btar 4
IRexCons 7V4
itoeneeier Mines n
San Toy 4
Sllrer Klnv Dlvld 1
Slher Hllle of Nev 3"
uo Am PAO 6
Stand) 8lhr Lead ...... Si
Buoceaa Mlnlns 8
Tonopah Belmont ift
1A
a
oo
o
ss
78
:
30
1
22
I
n
12
il"
6
10
10
6
26
lOVj
I
4
1
20
6
M
Commodity Markets
COTTON MARKET
New York, June 14. The cotton
market opened steady at on advance of
B to 10 polnu, influenced by cablei from
Liverpool, which woro about weevil,
especially from the Southwest, and n
stronger tone to foreign oxchnngo. There
wua buying by Wall Street and the
trade, the latter principally In Julv and
Octobor, anil ulso scattered local cocr
ing. Trading as a whole wns not active,
but prtcits lifter the start ruled ubout
steady in the abucnco of preiure. Tlicro
was moderate twitching from Jul to
later deliveries. An Oklahoma tolegnim
reported n maiked improvement in the
crop following recent rains, which wcrr
general over tliat State.
Tho receipts of cotton at the ports
for the day are estimated nt 25,000
bales, against 32,521 bales n week ago,
4071 bales a year ago and 30,501 bales
two years ago.
July
October
December
January
Mrch
Tert
Cloee
13.28
13.12
18.61
13.80
14.00
12.30
Open T M
12 82 12,40
11.22 13.24
13 60(208
10 Tfl
14 08
were reported higher and there was
nothing particularly frcah developed in
the primary markets since yesterday.
Afloat from Brazil to the United States
art! only 205,000 bags, 11,500 of which
nre Rio, 274,700 Santos and 0000 bags
Victorias.
Prices in the local market were slowly
working lower at midday on trade and
commission house pressure, valuca
working off from Initial levels about
3 to 0 points, with no aggressive demnnd
Iu evidence.
Ptv.
July 6.61
brptrmber 7,00
Dec-niber 7.88
iUrch 7.66
loae Open
03 8 83 85
01 II 04 'S 05
8!) 7 3330
60 7 83365
LIVE8TOCK QUOTATIONS
Chloaao. Jul 14. CATT1JS Recalls
11.000 head Reel steers, butcher ehe stocU,
ertokers and feeders, slow, moetly 16a to 25c
lower; early top yearllnse, IS, 76, bulk beef
eteers. 17.6098.86: bulk fat she atock. 18 80
tJ 7, bulls and veal calvea ateadyi bolornaa
larsely. I4.50O4.H0: bulk butcher bulls.
IB'JSOO.00; veal calvea larsely. JS.B030
HOOS Receipts. 88,000 head. Active,
tlrhts, 10o to lBc lower; othera moetly 10c
averase; top, ih.ioi
HHEKP necelma. 16.000 head Slnw.
Latnba moetly ateady; native aprlns top.
112 23: bulk 111011.76; weaterna not aold
early; Oreron yearllnss and twos 8, bulk
lower than yeeterd,y'a averase
bulk. S7,soe;s.on; pise
fat ewes early, ISO
Plttstrarih. June 14. - nOOS
2000 head. HUrlier. llaavlei,, ISOA26;
Phlla. Eke 6b, 1922
Penn. Pnb. Serv. 6s, 1962
Newark Pass. Rwy. 5s, 1930
HENRY D. B0ENNING & CO.
. , MOCK EXCUAMQE BVltDTNQ
arrival Telephone to New York
ssBers Phil. Bfatcb Kiohanse
Bank clearlnss today comr'red with oor-
reeponaips oy last two yearai
1P31
Phil ISS.04T.C
Doaton 43, IBS. H50 Si.etO.UT
u.aoe 17.vpu.-na
m?o ibis
166.047.037 tSS.SAO.SSn 167.036,743
Ilaltlmore 1 1.3IU
Chlcaso 63,267,019 108,10,739
North Dakota Bi
Illsmarck, V. D , Jun
County State Hank and i
Dank, of Atniaon noe m
by State Dank Kxamlmrl
an examination. It was a
iianK para uq otpqw
County tnnae. wnicn
pn
Ink Closed
44. The Blooe
,he Amldon State
ien oruereu cinaeti
L)(inup, prnflin
.680 ot Slope
y tny cannoi
GRAIN MARKET
Chicago, June 14. Whtat started
witi general selling and July lc to
2'c lower, while September showed
a loss of lc to 2ic On the break
there was little buying on resting ordcrii,
but market tone continued weak. Re
ceipts Inspected yesterday 54 cars, last
vpar 0 cars. Cash market easier with
premiums 5c to 10c lower. Shipping
demand nuiet and exporters not active,
ft Is said one of the leading houses
bad covered all the wheat It had sold
to the seaboard, while other bouses have
only limited Quantities left to deliver
on previous contracts, while a short time
ago it was claimed there were 25,0(10,
000 bushels wheat bought by foreign
ers and remaining to be shipped. Coun
try offerings to arrive are reported as
more liberal and 1I1: sent to the coun
try have been reduced.
Corn started ac to lc lower for July
and c to lVc off for Bentember.
Trnde moderate, with buying support
lacking.
Oats started with July c lower and
September l,4c to c off. Trade mod
erate, with commission houses and lo
cals selling.
NEW YORK COFFEE MARKET
New York, Juno 14, The coffee mar.
ket opened 3 to 8 points lower this
morning on rather scattered offerings.
I Temperatures Id the Rtate of Swo VM
ecelpti
Iffift ?r
IS.60O8.05, pise,
heavy and llrht yorkers.
in Allllll s
HHEKP AND LAMBS Receipts BOO head.
Steady Top sheep, IS. S0 top larobe, SlO.
CALVES Recelpta, 180 head. Steady.
Top. 111.
Km! IJnfialo, N. V.. June 14. CATTLE
Receipt 128 head: steady.
CAI.VES . Recelpta, 300 head. 60c higher
1BW11 60
IIOOS Keco'pts, 4000 head Steady.
Heavy mixed yorkere. Ilsht mixed and pise,
I, no, rousim. m.as. tr. tuts,
SHBEP AND LAMBS Recelpte. W0 bead
Lambs. BOc lower Lambs 16012, others
unchanxed
East St. I-oula. Ill June 14 CATTt.B
Receipts, 4B00 head- few early sales of llahts
and medium wcljrht steers eteadri other
c'aaeen Blow, 60 paid: beef powa sleadv
bulk. l4..noB.(!S, cannera steady; bulk 4'.'
tf 2 BO: llxht yearllnss and helfera. hulls and
ttwkera slow; veal calvea top, 19 711; bulk.
19 00.
llOClfl Receipts, 18 BOO head, active 10c
to 16c lower; top, IH, bulk llarht s and me
dium we shta. IT BOtPS. 300-pound heavlei,
IT 0B choice of 280-pound klnili, I7.no, bulk
in Dniwcent pacKer
nlsa etMidy, 17. B0 1
SHEEP Recelpta.
tire; lambe, 3 Be to
here three decks lai
wee scarce at I3V4. culls
inmoi, aieaay ai so; cnopprs na bucks IS
cannera. TBc
80c
in-je, ll.ni, DUlk
steady; JO 7BTs
uallty sod.
rainy c
7000 head,
URGE WORLD UNIFORM
COTTON CLASSIFICATION
Universal Standards Would 8lmpllf
Handling of Important Staple
Liverpool, England, June 14.
Adoption of uniform classification of
cotton for the world was urged today
u-f0T? w ,0,Id h tton conforence by
" U. Meadows, a member of the dele
gation representing tho United Stntes,
who has chargo of the cotton division
of the American Agricultural Depart
ment. "Universal standards would not only
simplify methods of handling cotton,
but would tend to higher standards of
ethics In the cotton business," said Mr,
Meadows. "Knowing definitely what is
expected of him. a shlnnnr t,,i,i u.
more likely to make serious effort to
meet his obligations on shipments by
supplying the grndo and staple stlpu
lated In tho contract.
"A most Important advantage of nnl
versal standards, would be the reduced
uuiuDcr ot ormirntions mat are neces
sarily held in the cotton business each
season. Having the hnme well-established
standards in the honds of both
European buyer nnd American seller
would facilitate shipments in com
nliance with contractu and, therefore
it would not bo ncccsHOry for the pur
chaser of cotton to arbitrate shipments
continually In order to collect claims
for failure to ship according to speci
fications. "B the adoption of uniformity
throughout the world trading on the
future exchanges In, both Europe and
America will be more nearly on tie
same basis, future quotations would be
moro readily comparable and better
hedging facilities would result Uian
when material discrepancies exist in the
forma nt tlio h mpa innliain if
,vs4H va tHv evutwAK vitu ana, yt, n
dicatlng the importance of cotton to the
-mh.h.U ,-,.., Tl
ft 'Tonopah Divide
ft Tononah Extenelon
7 Tonopah-JIm Butler ....
''Tonopah Midway
Tonopah Mlnlns
ft Tonopah Mlipah
I Tonopah Montana.
',. Tonopah lleicue Eula ...
ft I United Eaatern
A vietorv
? 'West End Con
" White caps
BONDH
Allied Packers 6
Amer Tel 0s. 192
Amer Tel 6s 1924
Anaoonda 6s ....
Anaconda, 7a, 1629
1
8
60
U
64
70
Hi
34
7A
1
28
6
12
J"
6
IB
16
6
1BH
i
20
6
8
I.
e
Where There's a Will
You direct, you order, you decide
how your property shall be con
served and administered ior the
protection and welfare of those
dependent upon you. Are you cer
tain that your Executor has the
experience, training and reliability
to carry your wishes into effect?
Can you be sure he will outlive you
and be in a position to give the
necessary time and care to the
responsibilities of executorship?
There's a Way
To insure that your, directions,
orders and decisions can and will
be faithfully followed. This Com
pany's existence is perpetual under
its charter. Its officers are special
ists in the various lines needed for
the intelligent handling of estates,
and they are daily performing the
very duties which you will call
upon them to execute. Name as
Executor and Trustee in your Will
Frsnkmrst Co.
Delaware Ate. Office tpSfef Weit Phila. Oiei
Del. At. & Market SL Srlk SZnd Market Sti,
C. Addlion Harril, Jr. iF'TWilMiHy Arthur Kition, Jr.
Preiidtnt rtftWJm'-'' Truwl OfTtcsr
Main Office, 15th St. below Market
Tht Institution that gave Philadelphia Day and Night Srrvict
Can Nat Ilr eo. 7s
cnt Baai iu ns
Cons Textile 7a
Copper Kxport 8s,
Copper Export Ss
Copper Export A,
Goodrich Tire 7a
Orand Trunk OVss 08
Oulf OH 7s 08
Halns Co Ts 08
Humble Oil Ts 06
Llbbv McNeill Ts 06
Seara-Roebuclt 7s, 1023.. 06
Southern Ry As 95
Southwest Bell 7s OA
Stand Oil M T T. 1023 101
Stand Oil N Y 7a. 1020.. 100 100'i
mana m n i la, iiijf.,iii mi
Btand on N y ts. idzs
Ntand Oil N T Ts 1020
Stand Oil N T Ttf, 1010
Kt.nd Oil N T Ta. 1061
w .-T 1 - ' i.
UWItl IS UOJi
Texas Co 7s 9SU
Vacuum 7s 100 100
Western Eleo 7a OSH 0BH
1. 1A
4 4
P 1 1
8 8 8
12 12 12
Vi ,14 ,U
AAA
IT 17 IT
iA ? i
7H , 7
40U 40U 10H
.' 07'i 0TU 9TU
0BS 0.1U 05'.
86U 80S S
93U 02H 9:U
100 100 100
89V4 BOH BOH
101 . 101 101
1922.. 00 H 09U 00H
1924.. 90S 99S 9II
1925.. OOtt OIlVi 90W
LtU COtI .nil
'A 93 on', r
Vi 05U 08V 1
97 '4 98 I
S 9.1U u r
U 0BU (15U I
(4 onu onvi
rt OBji 08U
Jl 00H 9DM,
Vi 101 lot
100
tm
i
!
i
.
OR,
100
Self Preservation
Is Nature's First Law
TO PROTECT oneself and those close
to one is a natural instinct as old
as time. From the days of bare hands
or the war club, self protection has
developed with civilization into many
complex divisions.
One of these divisions Is insurance life,
accident, fire, etc, and latest, but far from
being least -- Credit Insurance.
It is almost an instinct for moit to protect
themselves, their homes or their businesses
with the first named forms of Insurance, and
as a better knowledge of Credit Insurance Is
had, no business -worth while will be without
it, for it Is the only perfect safeguard against
excess loss from failures.
To get that better knowledge ask our agent
today.
OURSUPO-t-SERVICE
ATYOUTl.
SERVICE
Losses Paid In
Amert-emCuiTcncy
Established
EiehteenSixtnine
LONDON GUARANTTEE AND
ACCIDENT COMPANY LTD.
R. A. IRVING, General Agent Credit Insurance Department
( Stokes, Packard, Hsu.hton & Smith, Mansatrs All other casuslty lines.
BeUPhon-Iobsrd4190 454 Walnut St, kUittorwrieln 41M
..101H 101H lOiV,
..101 lOt'I 101V
. ,iosU lmii man
,.in-iH io.iu io3V
. . nfltj nnii t.ni
118-Vi
WE OFFER for sale tho followinej Foreifrn Government
Securities, which we believe will frreatly enhance in price
with the return of exchange rates to their normal parity.
Aowst...
trvrome Tins
7.50
and interest payable In Sterling-. Rwlis Pranes S"
Redeemable by 2 Annual SlnUlnr Kund at par.
City of Rio de Janeiro 5s of 1909-34
Trlnolpal
Guilders.
Republic of Uruguay 5b of 1919
8.10
FOREIGN EXCHANGE
New York, June 14. The foreign
exchange market opening toda wit
strong and active, with the exception of
the Scandinavians. Sterling was up
lai, franca were up 4 polntu, lire
showed nn improvement of 4'.j pointe
nnd marks were '3 point better. Tho
quotations follow : Bterllns cables,
3.7Vi, checks 3.7BVj ! franc cables,
7.07. checks 7.00; Belgian cib!e.s.
7.04', checks 7.1)3; Swiet cabliM
16.70, chf-ks 10.67; liro cables 5.13.
checks 5.12V-) J peseta cableu 12.0.
checks 12.00; guilder cables 32.1)2.
checks 32.87: Stockholm cables 22.30.
checka 22.2,1; Ohristlonia cables
14.45, checks 14.10; Copenhagen ca
bles 17.00, checks 10.05; murk 1.41'..
Central European exchanges were:
Greek, 0.12; Rumanian, 1.H; Rul
gorlan, 1.20; Austria, .21; Poland,
.JOO , vwciiu-DiovnHio, j.j ; Jugo-
Trlnclpal and Interest payable In Sterllnr at rixed raU of M.SJ
per I. Redeemable by 1 annual slnklnir fund.
Republic of Costa Rica 5s of 1911-58
10.00
Trlnclpal and Interest payable In Btarllna at fixed rate ot t4.86 'r
t uuvitioH.a fj Af siiiiubi 91MHIMB lUriQt
Chinese Government Reorganization
5 Loan of 1913-60
9.00
Trlnclpal and Internet pu)able In
iiouoernaoie uy I'M
Sterllnr Franca. Jacaneia Ten.
annual elnltlnsr fund commenelnr Msreb, l".
YESTERDAY' H CtJSINO QUOTATIONS
8.T4V T.sa 6 0(1 no 7n
S 78 T.04 6 08 82 80
lower
- n h.r.
three deeka lamba at til 2H Inn; l ill.
.... . . -- -. . --.- i-- "
eiu (uujli romi
BAR 8ILVER
London, June 14. R;r sllvr waa Hd
lower here today at SBHd
Parla Bourse Dull
Paris, Juno 14. Trsdlnc waa dull on the
Rruree today. Three per cent rentes. 6T
francs 98 centimes. Biohanse on London
47 francs 10 centimes. Five per cent loan,
83 francs TO centimes. The dollar was
quoted at 12 franca 6 centimes,
Demand ... . u.it1 T.ia inn M7
-i . ----- .----. . -- - ---- ". vuv.u,, in in. ,?,:l :: a a, s A i.'? -
United Ntnti.u Mr Mn.l.. .. ...u .,-' i.Die ,u ,. o un i
exports of the stanles fro . 1RAS - iSti I TODAY-H OPENINO QUOTATIONS
was ?13,010,000,000, or 53,257,000.000
muro man iuc luuu net trade balance
of the United States for thenm
period.
same
More Dividends Pasted
Chlmro. June 14. Western Oreeer Ca
passed the resular aeml-snnual (TlUdend of
Ju.f, c,nt tb common stock, due at
tola time. "-
Yeunsstown, June 14 The Brier tiiii
Steel Co passed Its quarterly common efTv
dend. Three montha so oompany SSrtmWi
tW"let tort Mnta a h"Sn thV'eVm!
IJUrlmore. June 14. Central Teresa Suae.
i,i",...,', uk rtlon " Prefe'red rflvl
tR'eSS.ftV Val'Va'S J J
CVaMHi 0wV.,,',&".l,S.? 8
conserve caah resourcts.fi """ ,B
Demand
Cables .
Sterll
terllns Fran
a-T$ ?:o?
Francs
IJ,rS.Pu,l'jers
6. IB 82. 92
Montreal The rate of premium here
today on New York funds was 12U
per cent. The rate of discount In New
Tork today on Canadian funds waa
10 18-10 per cent.
Standard Oil Reductions
Kew Yort. June 14. Standard Oil Co of
New York, reduced the pr ce of seollnV'lV4
"?' !il.rr? 1 2H "nt. whole.
from H to 18 cnt a llon
OMIT. rdUCi I rmnt
!!.. - ""
Qulf Coast Crude Price Reducod
Oil Cltr', June 14 Oulf Coatt crude nil
wi.ip iu eu cent a
has been, reduced
barrel,
Price and further information upon request.
GEO.WKENDDICK 3rd & CO.
B3nJzers
1431 WALNUT ST.
. uemtrs new Torn and
Philadelphia (Hock Kxchantes
w
PHILADELPHIA.
Teleyhonsi Bell Spro".4"
Keystone Itace 1166
HsilrTlttsrt.il nwiiWrlWWIHIIItfllllltllnlnr
jjl... M n -. ,3BV
Iter ft W Ifl)
Nst
Safety and Convenience
are assured in the arrangement of our ssfe
doposit vuults. Individual boxes can bo bsd
for as little as ffi per year, which gives you a
security worth many times the cost.
THE REAL ESTATE TRUST CO.
OF PHILADELPHIA
Broad and Chaatnut SU.
itit, ti ft-ijl
i-? "wHHntfti.tf J, ,rt' .