,"!
Wt,C
w
Vv-,
i" t
" v V
" v
- Xy
4
"W-
EVENING PUBLIC LEDGER PHILADELPHIA, WEDNESDAY, JUNE 15, 19211
!j22
I L
r ti
W
t
bf'
- .
hi
$
m-
tftf
SrlKATlAL DROP C
I W- IN MEXICAN OILS
French
Republic
External Loan
20-Yr. 7& Gold Bonds
Dae ltit
Direct obligation of the
French Government. Can
not be called. Strong;
sinking fund payments.
Orrred, subject to prior salt,
at a. price to
Yield over 8
Circular ott request for PE-SOr
The National City Company
rniiaaaipnia I4ZI (.beatnut 5t
Atlantic City Ch.lfonta Block
1228 Boardwalk
BumiitiKiminmiinainmarretnimrriarmnnim:
32 Dividends
Annually
Amounting to $46
can be obtained through
the purchase of one share
each of eight listed stocks
at an aggregate cost of
$450.
The return on the invest
ment is about
10 per cent
Combined purchase can be
made on a
First payment of $90
Balance in monthly pay
ments of about $36 each.
Write Dept. PL-56 for de
scriptive literature whicl'
will be sent together with
our booklet, Thrift Sav-inge-tnvettment.
No obli
gation in writing.
HRRLEsRClflRKHDNi
SB
66 BROADWAY NEWY0RH1
jXCUSOWUMO OREEH 4020-2
KiittnroamimmHimtiiataunaistiumHmuomrnn
High - Yield, Long - Term
Non-Callable Bonds
The only way to be as
sured of a high interest
return from bonds over a
long period of years, is to
buy at the present time
non - callable obligations
offered to yield from
lYz to over 8. A
number of issues of this
character have been
placed on the market re
cently. Particulars re
garding some of the more
attractive ones will be
sent on request.
Write for Circular E-57
Hemphill, Noyes C& Co.
Member New York Stock JTcinJs
Franklin Bk. Bldg., Philadelphia
Maw York BoaUn Scranton
Buffalo Albany Urreemt Baltimore
Whole Industrial List Crumbled,
but Short Covering Chocked
tho Slump
Now York, June 15. Storting with
a sensational break in the Mexican oil
stocks nt tho opening tho stock mnrkct
canio in for another hard frrlllliiR dur
ing the morning, resulting In a fresh
and nlarmlng crumbling of prices, espe
cially In tho Industrial divisions. The
rnlls wcro only moderately changed,
but ninlnly downward.
Additional bearish ammunition was
furnished tho professional contingent In
the report made to the Congressional
Committee on Foreign Affairs, asserting
I hat the production of tho Mexican
petroleum fields is dwindling. Wlillo the
charge was virtually a rehash of the
recent repeated statements concerning
the oil fields of Mexico, this addttlonnl
icport, coming apparently through con
gressional channels, naturally had a
illconccrting influence. The spectacle
nf the somi-col!app of tho shares of
th principal Mexican oil-producing
companies was alono sufficient to upset
I en a stronger fortilicil mnruct than
I tho current weakened affair.
I On a veritable flood of selling for both
J accounts, coupled with n multitude of
I "slops." Mexican rctroieum, selling cx
dirldend of 8 per cent, was carried down
'to llOVi, as against 1.10, last nlghfts
flnal quotation. Pan -American natu
rally broko with Mexican Tote. It was
I also cx-diUdcml (l"t per cent), and
I 'old down to 48. n compared with
jesterday's closing of 53.
This all occurred In the firM fifteen
in!ntitis nf the trnilini. 1111(1 natural!)
had a depressing influence upon the
other oil shares, particularly those
Moving foreign fields. Most of the
entire group, however, increased their
opening losses during the morning,
especially Atlantic, flulf and West
Indies common and preferred, ltoyal
Dutch and General AsDhalt.
Virtually the entire industrial divi
sion was affected, for the steels, equip -iiii
uts, sugars and numerous other mm-
I'llnncouH issues continued to lose
.round steadily. Weakness was mobt
ironounced in Crucible Steel, Ualdwin
and American Locomotive. American
Sugar, United States Itubber. Amer
ican Sumatra Tobacco nml Interna
tional Paper. These and sundry shares
were from 2 to 4 pionts down. Virginia
Carolina Chemical picierred lost 8
points.
The sinking character of the market
attracted moro attention because of the
'vidence of continued oiistmcnt In uionoi
j murkct conditions. Tor the tirst time
in nuuost two j cars me renewal can
rate was fixed nt Blj per cent, while
moucy was reported to be offered freely
In the outside market nt 0 per cent,
with somo reports of even that rate
being shaded. There, however, wub
little demand for call funds, as virtu
ally what little bujing there was rep
resented lnrgcl) prutit-tnking by the
short iuteicst ,who were prompt to take
advantage of the further breaks to cut
down tlie large outstanding commit
ments. These covering operations not
ouly clicked thu downward plunge of
prices, but befoiu noon brought ral
lies from 1 to .1 points from the low
levels of the morning.
U.G.l.WEAKSPOT
IN LOCAL MARKET
NEW YORK STOCK EXCHANGE TRANSACTIONS
.. . dv-
Sain in I
400
100
100
;oo
too
300
100
100
700
100
700
100
200
100
CII90
J mSOO
100
300
100
700
cm oo
too
100
300
100
1100
17.100
200
14200
200
400
VT 700
C3M0
000
3 (too
100
E3 700
., 2on
10
100
&2700
800
10300
100
5 BO
Itlrh
Advnnco Itumely 13M
.. AJax Rubber 214
4 Allied Cham & Dye... 30
4 Allls-Chnlmers 3J14
.. Alaska Oold Mines... H
. Alaskn Juneau Q M.. 115
Am Agrle Chcm 39
Am Beet Sugar a7
Am Bosch Magneto... 38
Am Can js
7 Am can pr ro
12 Am Car A Fay Hi
Am Drug Syn S
Am Hldo & Leather. . 11 K
Am Hide & Loather pf Sly
1 m Intomnt Corp 87
Am loo 8114
0 Am Ice pf 61
1 Am-La Franco Engr... 8
Am Unseed J3H
0 Am Locomotive 804
Am safety Itasor. . . . 8ft
AmSmeltftltof 80ft
7 Am Smelt ft Itef pf . . . 7I
Am Ship Com 8ft
Am Steel Foundries.. 27
7 Am Sugar Itef 73
7 Am Sugar Itef pf .... so J4
Am Sumatra. 87
0 Am TVI ft Tol 104J4
12 Am Tobacco 122
12 Am Tobacco b 122
7 Am Woolen 70ft
. Am Zlno Lead ft Smelt 854
. Anaconda Coppor .... 38(4
. . Assets Realization ... 2
7 Atlantic Const Line . 87
Atlantic Pet lo?4
20 Atlantic rieflnlnjr . . 850
8 Atch Top ft S F pf . 70J4
. Atl Oulf & W I S 3... 58
. Atl Culf ft W I S S pf 31J4
7 Baldwin Locomotho., 74
. Baltimore ft Ohio.... 3SJ4
1 unmmoro ft Ohio pf . . 00
lilll
French 7'2s, 1941
to yield 8
Kelly Springfield
Si, 1931, to yield 8
Railroad Bonda of ail
descriptions to yield
from 6 to 9.
VYlDINlB rilDO, PHILADILPMU
.V itrr, PMl,'pkta lid
Ami Vers &xt iifr
wtw vaaa uiutiTH. m j.
m
To Average 7.47
A combination of certain Bonds
of the following companies and
governments arc obtainable.
Standard Oil Co. of N. Y.
Penna. Power & Light Co.
Milwaukee Elec. Ry. & Lt. Co.
Govt, of Newfoundland
Govt, of French Republic
Send for list and particulars
Reed A. Morgan & Co.
Membara of the Trilla Btock Huh.
Wett End Trust Ultlp., I'hila
Sensational Developments in
Gas Case Were Received
With Surprising Calmness
In view of tln sensational develop
ments at the public hearing before the
cotinrilinnmc cnmmittco last night on
the report of the gas commission, in
terest in the local market contend moro
or less around the trading in United
Gas Improvement. Thu uigent request
bj tbe compniu for Immediate relief in
tho tetms of the gnu lease, decluilng
that the continued operation of the gas
woiks was onlj a matter of weeks un
less suc'li iihef is granted, whs not
altngethir pliasint leading matter.
This alarming admission, howowi,
was leeeived comiilnrentlj, although the
stock wns depressed Hi po.nts to .1.1.
Such a decline could bo expected bj rea
son of the general unsettled market
conditions. The selling wns relatively
small, Iihh than 100 uliares coming out
during the first hnlf of the session.
The disclosure wa not altogether stir
prising, as those In close touch with
the management were familiar with the
existing conditions, and long since rec
ognized tho necessity for the applica
tion of somo drastic steps to relieve un
tcnablo situation. In tho heavy selling
movement last December tho stock wns
forced down to 2(1. but since then iccov
ered and sold as high as .13.
Trading in the other local stocks was
quiet and prices were irregular The
iolvnf breaks in the larger moiket. of
oin ue, had somo effect but the prin
upiil one was to fin tin r lestrht nc
thitv About the oul important n
ccbbloii occurred in Kleetnc Stoiag
Mattery, which iililn to par, a net
loss of a point 1'iunsj lunula Railroad
after a dim opcnln-;. shuded to H.Ik
rim Philadelphia I In trie slimes were
well sustained American Stores con
tlnued to show iioie,orth, tinnnubs.
100
11000
100
300
1700
'. 300
800
300
100
too
1800
700
800
100
200
500
800
3800
1500
100
700
300
100
300
200
100
S 100
200
100
500
000
100
J00 2.80 BarnsdaJe Class B... !
20
Brklyn Itanld Transit low
8 Bothlehm Steel B.... 81
.. Butto Copper ft Zlno. 44
. Caddo Central O ft It. . 13J4
. California Petroleum . 43
7 California Petrol pf . . , 73
a Cal Zinc ft Load i
10 Canadian Pacific ....110J4
.. Central Leather 38J4
. Cerro do Pasco . . . . 2614
6 Chandler Motor .. .. B1J4
Chesapeako ft Ohio... 58 !4
.. Chicago ft at West .. . 7H
. . Chicago ft at Wost pf 17
. . Chicago Mil ft St P. . . 28
. . Chicago Mil ft St P pf 40
8 Chicago Northwestern 65J4
.. Chi n I ft Pao 3114
.. Chile Copper lOtf
.. Chlno Copper 34
. . Coca-Cola 38
Col ft Southern 33
Columb Gas ft Elco. . 58
. Col Graphophono ....
4 Comput Tab Records.
7 Consolidated cigar . .
Consolidated DIs Ins .
7 Consolidated Gaa . . .
. Consolidated Textiles..
. Continental Candv . .
4 Com Products Itef.. .
7 Corn Products Itef nf.
10200 2 BO Cosden ft Co
8)4
3174
25J4
0J4
85(4
18 hi
1
04
on
32
5814
18
m
30
38 H
8200 8 Crucible Steel . .
1000 .bo Cuban Am Sugar. .
7700 .. Cuban Cane Sugar.
3400 . . Cuban Cano Sugar pf
100 i Dalson Chemical ...
100 o Delaware & Hudson.. OS
1210 10 Del Lack ft Western. . 270ft
100 1 Dome Mines 17
1700 o nndlcott-Johnson . .. 83J4
800 .. Erlo 13
:00 . Krle 1st pf 19(4
1300 g Famous Players L. .. . 88(4
300 .. Fisk Rubber '12
300 .. Freeport Texas 14J4
JIOWO . General Asphalt ... 57
100 s General Cigar 60
200 s General Electric 135
4200 i Ooneral Motors 10
300 0 Gen Motors deb 6... M$
2700 . Goodrich B F 33)4
300 7 Goodrich B F pf 08
' 300 Granby Consol M ft M 20
3700 7 Great Northern pf. ... (14
300 4 Gt Nor Ore ctfs 37
100 2 Guantannmo Sugar . 8
100 1 Hupp Motor Car 11)4
300 00 Indlahoma Refining . . 4
300 no Indlnn Refining 71j
100 .. Inspiration Con Cop.. 33J4
100 7 Illinois Central 88
100 Inter Con Corp. . . 3 J,
100 . inter Con Corp pf ... 10 )4
200 Intemat Agrlcul . . 7)4
100 5 Int AgTlcul Corp pf . . . 30
200 a Int Harvester new .. 85)4
100 . Int Mcr Marine. .. 12J
200 International Nickel.. 16
6G00 .. International Paper.. 84
100 . Invlnclblo Oil Corp .. 13
3400 Island Oil 3)4
200 .Tones Bros Tea 18
800 . Kansas City Southern. 21 (
1300 4 Kcll -Springfield Tlrs. 38)4
11W
12
20)4
30
33)4
114
38
27
88(4
3
80
131
5
11)4
80 Vi
33
81)4
01
8
33
78
A
30)4
73
8'4
27
Gft
oo)4
83
104J4
131
123)4
74)4
8
38
2
84
l)4
860
70 U
23)4
10
71
37)4
60
20
10)4
40
K
13
43
73
110
38)4
28)4
60)4
58 VI
7)4
17
28
88
06(4
30
10)4
24
37
33J4
65
8)4
34
28)4
0)4
88)4
lh)4
1
M(4
83
31 '4
53
16
8(4
38
35
03
320)4
17
03
13
18)4
59
I 30 Net
Clou Chit.
)i
14
4
)4
12(4
lKa
8)4
60
126
or.
01)4
31
87)4
20
03(4
27
8
llh
4
?'4
33)4
89
:u,
io)4
7)2
30
85 '4
12H
15
80 14
17
3
IS
24
30 '4
12-
20)4 4
3-32)4-H
1)4
-
35)4- 3)4
28 - H
80 otP.
131 - )4
6
11 n V
60)4- !
30)4- 3
61)4
01
8
-
5
3)4 73
8)4
27 -00
-
0)4-
83-
10474
12a-
133)4-
74)4-
8 -
38 -
87 3)4
18)4- 4
880- 328
70)4- J4
33)4
10 -
72 -
37)4
80 30
10)4
40 -
13J4
43 -
73 --
110
301,4 30)4
oo)4-
86
7H
17
26
40 -I-
68(4 1)4
30-
10
24 27
33 -51
-8)4
34-2
35)4
0I4-- 'j
88)4 !
18)4
1 -
C3J4
96 -31
V
-8)4-28
-36-03
-220)4
17
r,t -
13
18)4-
f 88 -
4
!4
W
"i)4
!4
1
J4
0
H
3)4
!4
74
3)4
1
)4
1
1
!4
1M
Dlv.
In t Hlth
0 Kelly-Spg Tire 8 pf. 79
7 Kelsoy Wheel pf DO
.. Kennecott Copper ... 11)4
,. Keystono T ft R H?
.. Lackawanna Steel ... 40
Laclede Gas of St L. . 53
3 Leo Rubber Tiro 3774
8.80 Lehigh Valloy
3 Loewe Co H
1 Loft Candy 10)4
7 Louisville & Nahvlllel00
7 Malllnson ft Co pf . . . . 03
7 Manhattan Hlev guar. 87
. . Market St Ry pr pf. . . 38
.. Marland Oil 17
.. Maxwell Motor 3)4
May Dept Stores 84)4
12 Mexican Petroleum ..U3
ft M Inml rVinn 21
2000 l.oo Middle States Corp... 11)4
"" .. MldvaJo Steel 31(4
1 .. Minn ft St Lout 1074
00 .. Missouri Pacific 30
100 .. Mlflsourl Paclflopf.... 30
100 3 Montana Power 40
100 . Mont Power pf S
200 .. Mulllns Body 10
10u .. National Acme Co. ...18
00 n National Lead "
1000 ONOTex&Mex 1)4
8 New York Control.... 07
100
300
1800
4300
SOU
100
100
100
2300
100
800
100
100
100
600
100
100
40000
100
100 g.50 New York Dock 31(4
8 New York Dock pf . . . . 83
.. New York N II ft II.. 1074
7 Norfolk ft Western... 1
a North American 67
7 Northern Pacific 07
.40 Okln. Prod ft Ref 3
.. Pacific Oil 37
0 Pan-Amer Petrol .... 50
e Pan-Amer B 44(4
.. Parish ft Bingham..., 10
2 Pennsylvania R R. . . . 34 (4
.. l'enn Seaboard Steel.. 7
.. Peoples Gos Chicago. 40)4
3 Philadelphia. Co 30)4
.. Phillips Pet 31
12
14)4
1J5
10
oi(4
33(5
08 20
)i
1)4
1'A
!'
)4
174
2)4
Vt
'A
4
Vk
1)4
1'4
1
1
04 114
27 -
8
11)4 4
7)5
33)i
80 3 7i r
10(4 f-
7 Vi -V
30
53(4
13 3)4
1S 24 -30)4-
)4
)4
'A
H
U
)a
1
'A
A
1(4
300
300
100
100
7600
1800
3000
,38000
1500
300
1438
1000
1000
300
10U
800
100
30DO
800
100
100
300
100
100
300
100
10O
Pcre Marquette 20
. Pero Marquette pf. .. . 40
. Plerce-Arn.w Motor. . 21
. Plerce-Arrow prcf ... 47)4
. Pierce Oil 774
. Pittsburgh ft WVa... 37)4
8 Pitts Coal 67)4
1 Pond Croek Coal 14
8 Pressed Steel Car 75
8 Pullman 01)4
Punta AlefTe Sugar.. 37
4 Pure Oil 38
100 8.41 Rand Mln Am Shares. 10
400 b Railway Steel Spring-. 70
800 .. Ray Con Copper 13)4
4 Reading 08
2 Reading 2d pf 41)4
2 Reading 1st pf 4174
. . Remington Typewriter 1874
.. Replo Steel 28)4
20 Royal Dutch Amcr. .. 54
. St Louts San Fran... 23
. . St Louis San Fran pf . 31
.. hi Louis southwest... 25
.. Saxon Motor 3
1400
300
100
100
100
7400
300
600
100
100
000
0400
300
800
100
200
100
100
39300
100
100
100
10400
1U0
1300
100
3100
2300
100
300
tOU
600
ion
' 1300
200
100
too
350U
100
200
8700
100
24100
200
2400
1100
1100
200
200
100
400
100
500
300
100
700
300
200
Scars-Roebuck 77
.. Sinclair Oil 33
4 Southern Pacific 73
. . Southern Rail 30
. . Southern Rwy pf 43)4
5 Standard Olt of N J... 133
7 Standard Oil of N J pflOO
7 Steel Tubo pf 75
7 Studebaker 70)4
1 Submarine Boat Corp. 7
. . Superior Oil Corp 6)4
. . Tenn Cop & Chem. ... 7Ja
3 Texas Co 34 (4
. . Texas & r.iolfia 33
1 Texas ft Pac C ft O. . 23)4
. . Third Avcnuo 14 )4
5 Tobacco Producta .... 55
. . Trans Con Oil 8)4
.. Union Oil 20
10 Union Pacific 110
4 Union Pacific pf 04)4
8 United Fruit 100)4
. . Unit Rwy Invest pf . . 30
S United Retail Stores..
.. U S C I P &Fdy
..US Express
..US Food Products...
.. U S Ind Alcohol
7 U S Ind Alcohol pf . . .
..US Realty ft Imp....
8 U S Rubber
8 U S Rubber 1st pf....
BUS Steel
. . Utah Seo
. . Vanadium Corp
. . "Va-Carollna Chcm . . .
8 Va-Car Chem pf 73
. . VIvaudou Inc
. . WabaBh pf A
2 Weber ft Heilbroner.
. . Western Maryland . .
. . Western Pacific
4 Westlnghouse E ft M
.. Wheeling ALE 0
.. White Oil Corp 10(4
.. Willys-Overland 7)4
. . Wlllys-0erland pf . . . 33
0 Worthlngton Puma .. 46
Ci-dtxldend
t Ex-rljhts.
85
13
5
18
80)4
90
48
60
0474
70)4
10
30
37)4
20
13
0
20)4
43
Low
70
90
10
10
40
S3
3774
49
1074
10)4
108
63
87
88
17
)4
84)4
31
11
23)4
1074
20
30
40
03
10
74$
40)4
0)4
31)4
63
10
4
67
64)4
3
30
48)4
43
10
33)4
!4
47
30)4
31
30
40
10)4
47)4
74
37)4
7)4
14
75
91
27
28
19
79
13'4
67
41
4174
1874
33)4
51
2374
31
25
3
75)4
31
73
20
43)4
133
ion
75
74
7
)4
774
33
32
23
14)4
5474
7
20
"5)4
04(4
105
30
' 64
13
6
18
83)4
00
4S
57
0474
7474
10
20
25
00(2
7
20(4
13
9
20)4
44)4
8
10)4
7)4
33
15
Commodity Markets
COTTON MARKET
New York. June 1." Harly trade in
tho cotton niaiket was narrow. First
prices were .1 points higher, followed
by reactions to the basis of last night's
close. The only feature was moderate
selling by Liverpool and Southern wire
houses, which was partly nbsoibcd by
New Orleans, nnd trade Interests. Tho
market at the end of tho first fifteen
miuutcs was easy and about 4 points
net lower.
Tho receipt of cotton nt tho poits for
the day ure estimated at 18,000 bales,
against 1S.-118 bales a week ago and
(MHO bnJcH n vear ngo, nnd 115,2.1!) bales
two ears ngo
Prov rioso open
u ai 1? r
1:30 Net
Close Chlte.
701
90
10 - 74
10-3
40
833
3774 14
40 ..
11
10)4- J4
109 m
63-8
87
38 - )4
17 - !4
. 8)4 14
84)4 .. j
133- 414
31 -
11 -
33)4- JJ
1074 H
30 -
89
49 m
93
191
18- 114
74)4- 14
81)4-
)4- M
81)4- H
63
1074- 14
94
87 -
07 '1
3-14
87 ..
80-
44&- 3
10- V
33)4 - H
7)4- M
47- 1)4
30)4
31 - )4
30
40 - )4
10)4- 1
47)4- 14
774- 14
37)4- 14
57)4
14
75-0
1J4-
37-14
38
19 - 1)4
70 (4
18)4 14
68)4 !4
41 - 1(4
4174 74
1874- 74
33)4-
83 - 1)4
3374
31 )4
36 J4
3-
70)4- 74
23)4- )4
73
20 )4
43(4-
183 1(4
100 r )4
75-1
70 )4
7 )4
8)4- 54
774- (4
33
22
23)4
14)4- 1
8474 -
7- A
30 - ,
118)4- 1
04)4
10574 -
20 (4
65 -
13 )4
8
18- J4
88- 2
90-7
48 r- !4
87)1- 174
0474 - )4
7374-
lu
30 .
25)4- 1
66- 77a
7 -
20 ..y
13 -
- 14
20)4 1)4
14)4-
0
-0)4 )4
7)4 A
33 - (4
45 ..
PETROLEUMSTOCKS
DOMINATED
CURB
Trading Was Orderly and De
dines in Tropical Oils
Were Slight
n n
n ni
1 (10
n is
id 711
1 1 ii'i
i:m
I J S11
n 1.1
Philadelphia Stocks
mh
l. Am Stis. 00
KlOtCha'dlcr
Motors. (10 U
202 i:iieStorl(ll',t
:." I Co X A 2! 1
200 Lake Hup
Leh Vnl If)lj
(W2 I'u lilt 31
III Phila Co
( urn pf .11 a,
"7 I'hiln l,. 21 if.
201 do prcf . 2". "'I
;or. 1 a j ,-u
20011' S. Steel 75s
SO West Jer
A. S 27
l,OW
no
00
100
2! I
M
10
.1.1 Vt
.11',
21 1 j
2"'
.1.1
7i''x
1 r.
V M
."1!)
Net
4
(101,-1
100 1
211
h t
10n44 I i
11 J
II '! ',
I . '
1
11
2.- K
.1.1 IK
27 .
MARKET
15 Wheat
sUl tod
Snt 1 linnvff mida b enrnn mson m'h
'J un .New Vork btncK ELnnrurf
rilll.AIIKMMIIX HtlNUS
.1OI10 ictory 4
11,00 Amer Gas &. Klictilc ,'is
1100 lnterHtate Im .
2000 Lehigh Vullei Ci.nl .".-
.1000 riilludelphla i:in Im .".
fl .10
72
.10
l.1i.
SI
WILL BUY
FOR CASH
UNITED AUTO STORES
COMMON STOCK
Make Offerings
c.
.i"l " K-
''B
2res -J. C A."
Box 372. CL
rfi a. V
ew xon
JX .
Uall'Sta
DIVIDENDS DECLARED
Kerr L.lk Miiip I.lil U'j ruits jis
ak.lt Ju 15 U stoik of rfiiinl luh 1
tho Llttln bchuylklll Ninlnatlmi Itallicnrt
Cnul L'i. 1 paab! full in us lOKlmcreJ
Juno 20
United States Treasury Certificates
Quotation today on Urrllul Htaltn Treas
ury ccrtinraiia nre n rouoii
Ini .Mnturinir
ttmn
S(i July
fl AUk-
fV sept
0 Bpt,
1 .
Oc
Oct,
Dae,
KU,
Date Hid
Jtl 10' 10ft
IR21 IQIJrV
11)1 '00
1U.U 10 (V
lu.'i II.U
T
HI
lft
16
l
lOil lOOrV
lu
D2i ino..
ivn iw
Mur. If,. 21 1IIOU
nvi rrom normal reaj
income.
roir paymens
Aak) V I e I d
1111 1 iv l on
no n-.vj n 00
8.S. s.oo
S.oo
13
1 'j
i
100 8.8
100 T-H2
I 100 K-
100A
83
lOHrV 0.11
.ST
It.
miu . n.:in
rwrin nov-
aW.ft-'
lu
Oi tnbf r
tJpnil.LT
lanuarj
Han h
111 I
GRAIN
Cliliazo. June
with .luh 'ji to 1 hi' lower nnd S'l
tenilwr 1 '40 to 2V&C off, with piomi
nent coinmiH'.lnn houses selling, while
hajmg was sinttered and weak He
itipts iiisncted jesteidnj, fortj-slx
eais. las jcar, tliuteen nrs Cash
morket eas , with further downward
rerlslon if premiums Uomohtlc shlp
liing demand moderate. Crop and
weather londitions generally faoruble,
with additional ruins in tne Xorthwcst:
model ate temperalureH and mostly fnlr
conditions in the Southwest Morn fa
nrable deelopments In tho legislate e
situation expected to revive conlidenco
in the trade. Sentiment In tho trade
Is mixed and nbout evenly ditided
Corn opened fairly steady, with Jul
'hc higher to c off, and September
unchanged to J,fcc higher, but weakcnisj
icndil) after tho start nf scattered com
mission house helling uud luck of Impor
tant )ii.iug.
Outs i.i.c'iu'd ' ic to "V lower for July
and 'si' to 1 i' off for September Corn
minion houses had small wiling or
ders. NEW YORK COFFEE MARKET
Sew "orli, June 1," Mining oiiIith
b a tunic 1 i.iiimissioii house tor Jul
iotitiut rausfd an Initial upturn of
four points for that month on the
opening cnll of tho local coffee futuies
matket this morniug, when other por
tions were two to eight points lower
on liquidation nf old long accounts. The
fact that Uracil in 11 hhlppcrs hae re
cently shown a disposition to sell collee
In the cost nnd ftclght market and hno
lowered priies somewhat, has led to 11
belief In some quartern that poHslbl)
the Federal Government had uitlid in. 11
its suppoit at least tcmporarll), and
this may have accounted for some of
the selling of December nnd later
inontha today. '
i Prv. Cloi Cloa
rubr ' fl.su w o JiJ.iA
Dtembr. n.7W70, 8.7
- Hi' '..'v.:..:... T.isoDin t.
FOREIGN EXCHANGE
Xew York, June 15. Sterling was
higher and firm at the opening of the
foreign exchnngo market toda. French
and Melglun bills nlo displaced
strength. The other major exchange"
showed an Improved tone, with tho ex
ception of lire, which were slightly
easier.
n Quotations were: Sterling cables,
"7i, demand .1.70; franc cables
fi.04, checks 8.03 : IJelglan cables
7.09. checks 7.08; Swiss cables 10.85,
checks 10.82; lire cables 5.12, cables
0.11V6; pesota cables 18.04, checks
13.02; guilder cables 38.1fX checks
.13.05; Stockholm cables 22.45, checks
22.40 ; Christiania cables 14.C0, checks
14.45; Copcnlingen cables 17.15, checks
17.10; marks, 1,41.
After the first hour the quotations
111 foreign ixchnngcs represent! d gains
111 most of the major exchanges. Ster
ling cables were 3.78Vi, demand !l.77'j:
francs cable 8.07, checks 8.0(1; llcl
ghin cables 7.08. cheiks 7.07; Swiss ca
hies UI.K). checks 10 82; Hie cables
" 12'j dieiks 5.12; marks 1 4.i.
Central Kurniciin exchanges were ir
regular There was a moderate ad
ano In Creek ilrnchmns. Quotations
were: fiici'l.. 5.20; Rumania. 152,
Mulgniian. 1.15; Austrian. .21; Poland
OS.-,, Cecho. Slovakia, 1.40, Jugo
SlaUu, .70.
MONTREAL The rate of prniilum
on Xew York funds today was 12 5-1(1
pir tent. The into of discount on
Canadian funds in New York was 11
per cent
EBTEKDAY 8 CLOSING QUOTATIONS
Sterling Francs l.lio Uulldorn
Demand 3 75S 7 tin n in n 95
Cablea a 77 ( 1)7 n IS 33 U1
TODAY H 01E.NIN(1 OUOTA'l IOKH
bterllnar Trunci J.lr Oulldera
Demand 3 7()K S f) IU IS 11. 81 11.-,
Cables S 77U s lit'. HI.' ",3 10
LIVE8TOCK QUOTATIONS
(hieiso, June in 1 VJTl.!. lie elpti
111)0(1 tnud lltef alten ricniix tj -,
lower, ton heavs Mofra IK lid, l.ulk. 17 no
WS 50. die rlotk dull unit uii'innlj lowi-r1
bulla, ntotkere and fn Icui v-vuk bulk lo-
Ionia duIIb 4 r.llV 4.70 canes stiaU) . wnl.
eia largely ts SOtf!)
liin,M iinelpia
to SSc hlsher tni
iioiiiI lSc hlaner
jj 1 i itacil nl tou
p;a 11 1 Mi) ii uily
11 000 lie id Slow Hi!
i jestiidav'B nwrno
TOP. tS 80 Ml. ,Mj
9 ."i bulk 1s''iS20,
built fla nilik Sir Tai
'HHKI' Hen-linn IS OOO hmul Verv
i 1 IuiUiil uneenlv but sliiirpl I 1- 1,
tlti.n, , rii tWf be the! t. lit jrj
11 f. d i uillngu t ' r)
I'llUliurch. Jun- lft HOa.S - Rrcclpis
1100 hud 11'i.hrr IJeae s 15WS 2
1 r i und llulit urkers end plus t Oufji
IIIKEP AND LAMHH Ilielpl 300 head
Steady ion ahecp J'. B0, top Iambi, 110,
(alvea rccelpta 1.10 head Top 111
BAR SILVER
lyondon. lune in liar silver waa Sd
lower her today ot 33d
Liverpool Cotton
l.herpisil, June 10 There n only a
limited demand for pot cotton today with
price cailer on the bail or a decline ot 8
wr 1000 bales. The recelptj ware 20,000
bale. Includlna- lfl.SOO balaa Americ.h. V.
J Urea wars qviet In the ary deai'ngi.
; Spot prtcea warat American mldallnc fair.
i.'-" "... -.--.. .-r i-jj.:. .,-..... ..IIU-
llil, low . m IWUIOaVr O.tUd) EOOd
LONDON STOCK MARKET'
Trading Was Listless and Was
Lacking In Leadership
Imdoii, Juno 15. While the Stock
Exchange markets wero listless today,
with leadership lacking, the undertone
was one of stability. The attendanco
of brokers in the house was again light.
Generally tho feeling was cheerful.
Changes In tho oil department were
narrow, but the group was flabby. Shell
rransport and Trading ns 511-10 nnd
Moxican Eagle 0 7-10. Gilt-edged in
esttnent issues drooped, as rates for
monoy were firmer because of advance
preparations for the turn of the half
year. I rench lonns wero firmer on tho
appreciation In the franc.
Dollar descriptions wero weaker,
moving with NW York Exchange
Home rails were nuict and easier, on
fears about the labor situation Argeu-m-
rn Is wwe iiiegulnr, but lower in
the main Doubts about diidcnd piij -nients
caused Kaffirs to tag Rulilir
shares erc maintained Industrials
wero inactivo. Hudson's Ilaj "1 u!
MONEY-LENDING RATES
if 1 IvnUIng and ienewln ' ,cr ccnl
PIHL.UEI.riII Call 0 r.r ..,., ..
ouiu ,nTO nro rnerxly nomlnii ,,.....-
)'no. Liiv irjKiii rnin rtr ntae
of Tenn.y icanla t-,lB' fixed ii ' V feni
Iuh premium and tnminlaeon time mo.S.,
tor thirty to ninety da. loaii, nt 7"?
,or thlr
t,t..H . ' ' . "V" cu!"n'rcial pap, from
hlrt. to nlnetv dtn lu hm,i !..M . '"'n
tnt . 1
th
per c
Reserve Banks' Discount Rates
O'lb-lai redle count rate at the lweIo 1V.1
oral Iteicrro llanka are us follows
Uoiton
Ne Vork
I'hllndelphla
CI 1 voland
Richmond
Atlanta
( hl n
SI I.ouls
M nneapol'a
KanHm Clti
tlnllun
San Krnnclico
Treas
ctrs.
a
a
a
n
a
a
r'4
a
0
a
Uoiids I'aprr Accept
11
II
M4
11
11
11
H
It
II
I)
(1
fl
n
nw
11
n
n
n
Ma
it
r.'i
n
fi
DUcount rata enrresnondn with i.,.i ..
rate borne by rertlficate pledged, at collt
era with minimum of 6 nor cent In tho ca",
Sf m'a'delph.a'"''1 "" Cnt '" 'h, "M
Louisiana Oil Prices Reduced
Mirrteport, June IS Standard Oil Co of
Iiuliluntt announce! a rodudlon of 25 tenia
a hair I on nil driid'ie of North Lnnlklnna
crudo oil exiept Caddo haavy and Arkaneaa
iinlrh will remain at II and 70 centa rel
apertlvely. Oulf and Texai Coa reduce
CriIiM heavy oil 20 cents, maklnr the new
price 80 oenta a barrel.
Raw Sugar Market Steady
1 '." V.orK' Juno A"1 TThr r"w ,,ueRr mar.
1 et Is steady on the basis nf i 0 I f
A falrlv larae bualness was transacted In
mi m jtiw vu 4uur un nit, auove paalu
At the close. the Federal Sugar lleflnlnt
co acquired BS.uuu pais anoat brlnalna
the total transactions (or the day up to
approximately 67,000 bats of Porto nieoa
anoat and for shlsmtnt thi, last half of
June and Are, half of Jufr. th ..iA i
,. l)fl Arbjikts Jlros, befnB
! . ...ttri... . if.
Sugar Jleflnlna Co.
tn buyers.
lOJi
007.
13't
07
New York, June IC. Special interest
was again attached to tho dealings of
tho petroleum Issues on the Broad
Street Curb, but tho market thero was
far moro orderlv lhan hnd generally
been expected In vlow of the further
cuts in tho price of crude oil and pe
troleum products. Stocks of some of
tho tropical companies xvcro in supply.
Marocolbo falling to 23V1 nnd Carib
Hyndlcato yielding from 0 to 0.
Tho Cities Sorvlco Issues, which were
cx-dlvldcnd, wero fairly steady, hold
ing tho moderate recoveries tnado from
tho Jotv levclo of Monday. Bankers
shares wcro traded in nt 14 to 14,
tho preferred at 45 to 44 and ttie
common at law to 127.
Low-priced issues were irregular.
Hudson Qll was in fair demand. Pro
ducers and Reflnera unl.t nf !tlf, nml
3. There was n moderate amount of
OUmnCS.S in Hlrnmo nt 70. nml 77,
Anglo-American was firm, selling nt
iu o -iu'S" international rctroieum
was traded in at 13.
Industrial issues wero quiet nnd
without special change. Lackawannn
rights wero traded In at 35 and
Southern Conl nnd Iron sold down to
. Colombia Emerald was heavy with
sales at 1. United Retail Candy sold
at 7 and United States Light and
Ucat nt 1 and 1.
I.NDUSTKIAUN
11 00
ilivS Tyim a r
Acmo Coal ii4 ii i''i
Amor leather IB 13 13
Columbia Kmerald Ill 11, 1
Com Finance , 42(4 42(4 42M
V U ft w riaht Vtfr 8.1H 8814
Inter Rubber 8V4 8rt 8W
Mitchell Motors 4U 44 4H
Perfection Tlrs J, ',
UHI.4H ... . l' 1J 1
U 8 Ship Corp A H 2
U fl Steam ....:. K 2 2
HUlf"! ft olt Sharing .. . IK 14 1
Unltod Itet Catxjy 7 7 7
BTAMUIU OI1A
Atielo-Amer Oil 10
Stand OH of Ind . .. . 0714
INDiaKNDK!tT OILS
Allied Oil 4
Halto Pet 5'i
Uoone Oil l
lloaton Wjomlng 7B
Carlb Synd H
Cities Service (old) ex dlv.130 1
C t Berv "II" ctfs ex dlv 14H
Clt Sorv pref ejt dlv . 46(4
Denny Oil jl
Knglneers Petrol '
federal Oil ii
Ouffey Gillespie 11
Hudson Oil ,v
Int Petrol 13
Maracalbo Olt .. . i-JS
Mexico on i U.
Mountain Prod ex dlv
National oil N J
Noco Pet
Noco prof ... . ...
Omar Oil
Producer & Ilenrrera. .
Salt Creek Prod
SImms Pet
Skelly Oil
Teaon
Un Texas Oil
United Itojally
MINING
Alaska Ur Columbia ...
Atlanta
131c Led re
ltooth
lloolon & Montana . .
Caledonia Mining .
Calumet & Jerornn
Candelnrla Mining .
Cortex Sliver
Cresion Uold
( reticent MacXamara
Dundee Ariz
Kureka Croesus .
Eureka Holly . .
Uold Cons
Oold Detel
Oaldfldld Kloict-e
Uold ICeuanau
Oolif Sllor 1'lcli .
Uold Zone
llicln. Mining . . . .
Iron IJlosom
Jumbo Intension
Knox Divide
MacNnmaru,
Mareh Mining
Mother Lode new
National Tin ...
North Star . ...
Hex Cons
Hochestrr Mines
.Jan Tov . ...
SlUer King Divide
So Am P & U
Htar.M Slher Lead .
Success Mining . .
Tonopah llelmont ... .
Tonopuh Cash Hoy .. ..
Tonopah Dllde .
Tonopah Dxtcimlou
Tonopah-JIm Uutlcr
Tonopah Midway
Tonopah Mining
Tonopah Mlzpah .,,
tonopah Mnntntri , .,
Tonopah ltcscue Dula
United Eastern
Victory . .
Vst Hnd Con
White. Caps
Wllbcrt . . . .
S.
11
s
ioj5
no.NDS
102.'. . .
1VJI.
Amor Tel Us
Amir lei 0s
Anaconda fis ...
Anaconda, 7s 1020
Anglo-Amer 7 Us .
Armour 7s
Ileth hteel 7s 1033
Ctn Nat P.vry ea 7a
Cltlos Service 7s II .
Otloa Senlco 7m C
Cities Service 7s I) .
Copper Kxport 8s 1U23.
C'opiwr Kvport Hu 1021
Kmplre Clas Ci 1024..
Emplro Oaa Bs lll-'4 .
Grand Trunk 0Vs. . .
Oulf Oil 7b
Humble Oil 7 . . .
Llbby-McNelll 7s
Houthu-oit Iloll 7s
Stond Oil N V 7s 1927
cm s .
Sun
hnlft
7s
W
a:u
uvi
S7
l'2,
io". si
tin
si
7S
f0?4
8 i
87
1)3
"S
tnw
i)Bi;
nau
mi '
oo
uiii.
Cotton Consumption
Wonliliurtnn, Junn 16 Cotton i iinaumcd
during May amounted to 430.884 bales of
lint and 47.8(13 brihn of llntero, thn Ceniius
Uureau announced todas Consumption In
May lust ear amounted to 611,377 bules of
lint nnd 32,072 of llnters
Cotton on hand May 31. In mniiimin.
establishments nmnunted to 1,270,314 baits
ni iini ana iu oon uuies ni iinters com
pared with 1, BOH, 831 of lint and 282 831
bales of lint and 201), 108 of llnters torn
pared with 2.B8i,8tiS of lint and 303 37"
of llnters a year ugo
Imports during Maj amounted to ll)At
bales, compared with 15 707 In Ms lust
jur Kxports for May were 473 040 lairs
Including 4840 bales nf llnters compared
with 3114,004. Including BOW of llnters In
Mav Inst year.
Cotton spindles active during i- number
32,1131,031 compared with 34 01)0.711 In ll,
lust ycai.
More Gold Arrivals
Issh York. June 16 -The steamship Arena
arrived with fourteen bars of gold from
Colombia consigned to William Schaal t Ca
Steamship Mount dn brought sevents-clirht
l....AU IImu f. Iliin..ll T- ...M yr
Chailes Hardy Si Itupertl. Inc
I'roposTls
KlItT Mll'JJ, VA. Si:.t,KII l'lini'iis , ,Z
. In trtpllcatn will be r.celved unit u a w
June 2, 1031. and then opened for' ,M
rcconstnictlon of roida within reet-nii"i'
new rouds and drains around lamidri ni-"
also tlinl.w cent trestle Ooxirnment Si
serves right to nrcept or rrj.et ni" "V "
bids Information can he obtain, i i?J "
plication to Conntrtctlng Qinriormi..np"
loom 2418, War 1 rnd- llullding thh "i".
N W . Wuitilnktnii
n i. "'"
celM-d In Hoom 210. City if. m ".',., TS
o'clock noon on Thnrsd V. !.. ,.!fn' 1.3
and opened at that tlm- In same ,S?.: "El
I Qencral ronslructlon fnr it.. r.....'"r
nent of Independcnco Hall rronn of bJiM
lugs, restoration nf old rtu i,,' II'I"'
prudence bmiare, Pnllod.lphli j.," .'"J''
s v" nitti n5 utiiiin nrii im
..ii x... i.. ... :. : "v rnrein
"-iw7 ' aV'."'." :,y ;"" 1l;i,wihiR rhuntiV
of the Amorlcnn inxltut
or mo Ainericnn insmtut" nf Arel.ii.V..
under eontrnct with th- Illy nt pB
Phla nuthorlr-d by ordinance of CrVuncl'i"
IBO deposit renulred for plans and spseif-
cattons
: Plumbing work for general enn.i-,,.
ton for tho Improvement o It i1,innd,S5:
Itall group of buildings restoration m
city Hall, Independence tluare I'hn.d.1.1
Phla. Pa,. In anordanc. with th." plan" 2fd'
these spec Hcitlons prepared by th t.Mi.
delphla Chat ler of tho AnYmln insM. V
of Architects, under contract with !!m!
S.'iW "'!,. byWordin'c.Cl0l
,. u.fv... .muirea tor plans and
BDeeftcatlom
Plans and specifications ohtslnahta ni...
Kor iniormation and jfu I partlsulsrs in.
nulr. at Iloom 118, Clty'llsllf "8,"r ,n"
I i. Wtgntdy WIANK if. CAVEN.
Self Insurance as a Means
of Saving
Five thousand dollars invested
under a voluntary or living trust,
through the action of compound
interest at 5 per cent., becomes
$ 1 0,487.84 in 1 5 years. In 20 years
it will grow to $13,425.30.
This form of self insurance is
not offered as a substitute for the
ordinary life insurance policy
(which the uncertainty of human
life makes advisable), but as a per
sonal sinking fund.
The establishment of a living
trust fund is an excellent way of
saving, of providing money for
any expected or unforeseen contin
gency, such as an endowment for
yourself, an educational fund for
your children, or protection
against a "rainy day."
Consultation with theTrust Department of
this Company will familiarize you with the
many other uses of a living trust fund, which
may be added to or drawn upon at will.
Member Federal Capital and Surplus
Reserve System $10,000,000
EFFINGHAM B. MORRIS, Preiidtnt
ORARD TRUST
C0MBVNY
eharttrtd 1836
fi
OJ
J'.'-'.Ti J
i-i
Philadelphia
A BANK that conducts its own affairs
successfully can be depended on to
safeguard the interests of its customers.
In not one of the fifty-five years of our
existence have we failed to add to our
surplus and undivided profits.
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital $ 1,000,000 Surplus and Undii ided Profits Earned $4,400,000
"I1 If1
New Issue
De Kalb County, Georgia
5 Road Bonds
Population, 1920 census, 44,051
A substantial portion of the City of Atlanta, including a part of
the residential section, is in this county.
$50,000 due Jan. 1, 1945-49 inclusive
Price: To Net 5.75
Full Information Upon Request
HARRISON & CO.
BANKERS
106 SOUTH rOURTH STREET
PHILADELPHIA
Members New York and Philadelphia Stock Exchange
ANNOUNCEMENT.
We take pleasure in announcing that we
are now represented in Philadelphia by
Mr. B. Hubert Cooper
with office at 798 Drexel Building.
ARTHUR PERRY & CO.
Investment Bonds
Providence.
19 Milk Street, Boston
Philadelphia.
talEGNEMOCKEVMn
c5SAqtento
WILL BUY CONTW
of tny !ar rompuny nssdlM w
capita), nivs particulars.' nurobrr pf
holdsrs, tc.j to r.Tlv MUntlon
m