Ft
If W
f:
:'i
igMRTS SUFFERED
"
rf-r
rTpwfS
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EVENIJNG PUBLIC IjEDiliKPHIIiAJiliJUl'illA, SATURDAYf JTJNM ZtV'lUZl'
AV; f
"..
Week's Heavy Liquidation In
dicated Cloaning-Up Process
Was Not Yet Completed
NEW YORK STOCK EXCHANGE TRANSACTIONS
Now York, .Tune 2.". The over-zenl-ous
short Intercut cmiip in for a severe
(filling In todnv's brief bckMou of the
fruit? tnnrlrnt. Tlinrn wni n linStV COV-
erliiR of commitments nil throned the
list, the ilemnml being little short or
urgent in n niimnor or me iiiiucrnii
ncculntivo specialties, which r-nvrieii
? rices up rapidly, resulting in net gnui
rom 1 to over Ji points. While the re
bound invited considerable profit-tnUinij
the recoveries' were well sustnlncd nnd
the flnnl qiiotntlnns were pencrnlly close
to the top figures of the dny.
Vnpue hints of the possibility of nme
very fanrnl.le development h turning up
over the week-enci wns partly responsi
ble for the hasty retreat of the bear
following, but the rreater propelling
foree In tlie about-face turn in the mar
ket trend was hiinnlled in technical con
ditions. In ootiKenuenec, the wider
gains ucre registered In those specula
tive issues which had suffered the brunt
of the week's downward swing, but In
all parts of the list an oversold condi
tion was disclosed.
The week's market made It plain that
liquidation is still in progress to the
extent to leave a decided impression on
the speculate o and Investment situa
tion. In n measure, it served to lift
the veil of secrecy which had more or
less clouded the inlluences behind the
prolonged downward swing for some
weeks back. It disclosed the utter torn
foolery of attempting to divert atten
tion (mm the ical causes which were
steadily but surely undermining the
market position by intimation and open
chargei. of reckless nnd merciless drives
on the part of the organized bear party.
There Is no doubt that the aggres
sive operations of the reactionists con
tributed to a large extent In forcing
market values in the perpendicular de
scent. It lit short stocks were covered in
the easiest way Imaginable 'because of
ever-increasing volume in the tlood of
liquidation of real long stocks. There
was no demoralization, neither is there
nny likelihood of such n condition being
prifipitated. The housecleanings have
been of too drastic a character nnd
prices lime fallen to such an abnormal
low level ns to preclude hysteria which
usually appears in panicky times. The
nearest parallel to the present move
ment is to be found in the so-called
"silent panic," or "rich man's panic,"
a decade ago. It is admitted that some
big fishes in the speculative game have
been landed. It is admitted that indi
vidual and collective interests who only
n few j ears ago were regarded ns among
the most powerful operators on the
Street were forced to let go. There hns
been very little of the familiar "helping
out." because few are in position by
leason of already strained resources to
help any one, and it hns become a case
of every man for hlnusclf. This resulted
in the wholesale dumping of every mar
ketable holding In order to obtain nec
essary funds to take up other holdings
less marketable and not possessing tan
gible assets. So not only was the mar
ket forced to contend with this mighty
volume of forced liquidation, but also
deprived of support usually depended
upon from those who wero now found
in a tight corner. Added to this was
the average business mnn. who in peri
ods of market depression has always
been a big factor in contributing sup
port in stemming the rapid ebb tide of
values in the past. Today, because
of the widespread depression and the
monej market tension with its contrac
tion ot credits, lie is so pinched as to
resources that he is not leaning to stock
market commitments.
As to tin immediate course of the
market, much will depend as to whether
the liquidation has now been completed.
Many thought it was six months ago;
quita sure it was in the early bpring,
only to dlvover within the Inst two
weeks that the cleaning-up process was
only half done. The real commend
able feature of the existing situation,
unpleasant ns it may be, is the sur
prising willingness on the part of the
big intei.'sts to hi , all cards on the
table with faces tinned up. It Is un
qucstion.iblj best to know the leal state
of tilings, no mattir how bad they may
be, rather than permitting indulgence
in general conjei ture.
Some seem to tl ink the worit is over.
Thnt question cannot be uutisfactorily
answered at this time. If the market
shall become dull all will be well ; it
will help in the gradual workout of a
very dithcult position.
TRADING IN THE
LOCALS COLORLESS
Curious Indifference Shown to
U. G. I. nnd Rapid Transit
Interesting Situation
Klectric Storage Unttery was about
the ouh local stock to elm v action in
today's' extremely dn'l market. Initial
quotations rejected a fractional shad
ing, including that stock. Aftir touch
ing !Kii3 there was a quick rally in the
Inn hour to 00. or K point above
the toi price of the week, and li points i
nbove the lowest, tin the nt.icr hand.
Lehigh Navigation established a new
low iecord at (l'Jls. This coniession
was made on very lhnitei transactions.
America! Store preferred, on the sal
f few stu.res, was off ' from 'he
rrevious sale. I' " I. shaded to "l'
FpiiiimIuuim Ttnilrond was stendy at
J-.",. I'hllll lelohin Illeetrie 'shhn were
unchanged. The tnnling .,i absolutel.,
featureless.
Curioiisl (he local finding element
nnd the entire market community as
well continue to pay only indifferent
attention to inntters of what might he
termed home developments and get all
fussed up oer something happening In
the outside work) No one can deuy
that the affairs .. tjotli Philadelphia
Itnpld Transit Co. and I'nited Gas Im
provement contained numcious possi
bilities and eventualities. n ordinary
times the little short of sensational
developments concerning the welfare
nnd future operation- of these two dis
tinctly local enterprise would produce
no end of tumult irom a speculative
viewpoint. Iti l these are not ordinary
times, and then again, iheie are rea
sons for be!n v nig tlmi much of the dis
turbing elements whi-h nie now coming
to light wcie thuriiughlv discounted in
the prolonged decline in tlu stocks of
the companies nitmed. The element of
doubt that present unsntisfnctor con
ditions now confronting both enter
prises will be amicably and profitably
adjusted is relatively small. 1,'nfor
tunntely those most interested will not
be In position to avail themsclvea of tin
opportunity to retrieve losses In princi
pal and Inccme which they have alreadv
suffered from conditions vvhiih could
not be foresei n nnJ mi which thev lnl
no responsihilii'. Their ,,nl.r reward
will be in the pii:ii-i,n mil tr-niciii; (,f
holding on until tluugs arc ilgliteil,
which eventual) must i omi .
BAR SILVER
Domeit!o bur ailvwr rnu unchanged In
Ka York today at UUU o forelrn SSftc. am
tHY"(s ot BBS c. .In London too orlce wo
Id hUncr at SCHd,
Fntes
loo
100
00)
900
1300
100
800
ltoo
300
3.500
100
TOO
200
300
too
.100
4500
1000
flOO
300
300
000
4000
300
14300
1000
3109
800
GJS00
100
1100
50
100
300
too
300
100
11.100
10(09
100
(1300
too
13JO0
100
200
309
300
1S00
300
100
4000
JS0.1
300
800
11800
4309
100
300
1310
3600
ttooo
300
100
ston
no
300
1000
400
300
100
4000
100
300
700
1S00
300
400
109
300
400
4400
100
niv.
In t ItlRh
9 Advanco numoly pf . . . 'y4
Air neductlon Ml
.. AJax nubbcr "H
. . Alaska Gold Mines.,. "4
Allied' Chem & Dye... 8"
7 Allied Chem A Dye. pf . 8
4 AlIlB-Chnlmera )
Am Beet Sugar 20
. Am Agrlo Chem '?
.. Am Can 2tH4
7 Am Can pf 0i
13 Am Car & Fdy "O
.. Am Cotton Oil 0H
.. Am Hide A Lcntner. . 10
. Am Itldo A Leather pt 40
4 Am Ico BS',4
Am Intemat Corp.... ''3i
0 Am Locomotive "
.. Am Safety Razor....
.. Am Ship A Com -H
.. Am Smelt A Rof
3 Am Steel Foundries.. 3
7 Am Sugar Iter ?
7 Am Sugnr Itef pf 00 1
8 Am Sumatra 63'4
0 Am Tel A Tel 103?k
13 Am Tobacco 110,
12 Am Tobncco D It'?
7 Am Woolen 0012
.. Am Zinc Lead A 3moK 8'rj
.. Anaconda Copper .... 374
0 Arso Dry Goods 1st pi 04
0 Asso Oil 95
6 Atch Top A Santa Fo. 7SVi
0 Atch Tap A S F pr 70'
7 Atlantic Coast Line... 94(4
.. Atlantic Fruit li'j
.. Atl Gulf SWISS.., ?42
7 Baldwin Locomottvo. . 70
7 Baldwin Loco pf 07
. Baltimore A Ohio 3I1J4
4 Baltimore A Ohio pf . . 40
n Bethlehm Steel B.... 40'8
8 Bethlehem Steel 8 pt 07
.. Brklyn Rapid Transit 04
. . Butte Copper A Zinc. 4
fl California Packing . . . ."H
. . California retroleum . .'l94
7 California Petrol pf . . . 70
3 Cal Zinc A Lend 4
10 Cnnndlnn Pacific ....too
.. Central Leather 3.1
.. Central Leather pf... 09i
.. Cerrode-Pasco 3.',i
10 Chandler Motors ill '4
4 Chesapeake & Ohio... 4014
.. Chi A K III Kq T ctfs. 1 ,
.. Chicago A Ot West... 71J
.. Chicago A Gt West pf lO'i
.. Chicago Mil A St P... 2.?i
.. Chicago Mil A St P pt 3S"2
C Chicago Northwestern 03 '2
4 Chicago Tneu Tool... 51
.. Chi 11 I 4 Pac 208
0 Chi R I A Pac 6 pf. 60
7 Chi R I A Pao 7 pf. 71
.. Chllo Copper 10
. . Chlno Copper 33
. . Clev Cln chl A St L. . . 34
.. Cluett Peabody 30U
.. Coca-Cola 3034
8 Colorado Fuel A Iron. 37
. . Col A Southern
fl C'olumb Gas A dec. . .
. . Col Graphophobia
. . Col Graphophono pf . .
7 Consolidated cigar . . .
7 Continental Can
. . Continental Candy . . .
7 Consolidated Gns . . . .
4 Corn Products Ret . . . .
7 Corn Products Ref pf,
3400 2. 00 Cosden A Co..
11000
1400
4.1CS
1300
1300
900
100
100
1400
700
100
4990
100
800
400
13300
100
500
3s00
700
300
S00
300
700
400
100
100
39 U
100
1400
700
soo
300
300
4 0:i
100
100
1500
500
1500
200
200
3709
100
1500
1070
500
man
300
4 Crucible Steel . . .
2 Cuban Am Sugar.
Cuban Cano Sugar. .
34
5512
4j
10
24
4G
l'i
9514
on
07! i
30
57H
15
04
7 Cuban Cane Sugar pf. 271
1 Dome Mines
. . Duluth So S A At
. . Puluth So.S A At pf. .
. . Elk Horn Coal
5 Endlcott-Johnson ....
. . Erlo
. . Erie 1st pf
8 Famous Players L. . . .
4 Federal Mln A Smlt pf
. . Flak Rubber
. . Gaston Wms A Wig. . .
. . General Asphalt
5 General Asphalt pf...
8 General Electric
1 General Motors
0 Gen Motors deb 6T . . .
7 Gen Motors deb Tc . . .
. . Goodrich B F
7 Goodrich B F pf
7 Great Northern pf . . .
4 Gt Nor Ore ctfs
2 Guantanamo Sugar . .
Gulf Mobile A Nor pf
1H4
3 '2
" 'A
IC'j
5714
12 h
50
21 V
13Jj
Wk
51
HOJj
127
10
03
71JJ
31 U
07b
C5&
20 Yt
8
21
4 Haskell A Barker Car 53
.. Hendee ctfs 15
. . Houston Oil 55
1 Hupp Motor Car 11H
7 Illinois Central 69
00 Indlahoma Refining , . 3
.. Inspiration Con Cop.. 3Vj
.. Inter Con Corp 3i4
.. Inter Con Corp pf 1o;4
. Int Agrlcul Corp pf . . 3sfj
7 Int Harvester new. .. . S3
.. Int MerMarlne 10'
0 Int Mer Marine pf ... 40 '3
.. Internat Motortruck.. 3d
.. International N'lckel.. 134
.. International Paper.. 53'3
0 Inter Paper pf stpd.. fl'A
.. Invincible Oil Corp... II',
.. Island Oil T.t
. . Jewel Tea 9
.. Kansas City Southern. 34!2
4 Kansas City So pf . . . . 19
Tow
3314
30!',
14
'4
37 J,
80
30 H
20 Ji
20
35
70J4
119
ir.14
10
40
54
33
77 'J
44
7H
34K
35
73 n
80 i
47 r
103H
119'4
1111 '4
07H
HH
36 v4
04
U5
7s'4
70 14
83',
5'i
31 '4
OR '2
97
35
40
4334
97
OS4
4
553
37 H
70
u
inn
33 14
oou
25
48
48
1
7
151,
21 'A
30l
C3
51
no
71
10 V2
23
34
3014
30
37
3334
54-4
4i,j
1SL,
3314
40
J'i
844
04 1,
07fc
30
35J4
mi
9J
20 H
1512
2 14
514
10 14
55J,
llTo
174
58
3i r,
13 "4
J', 4
51 M,
8 9 'J
135
0
!
3!i
07 '4
(I3J4
20
s
21
52
15
52 J'
11
884;
3
3? 14
3'i
111 14
38 Jo
78 -i
10
4t
30
133,
5 1Kb
C0i2
HK2
3
Mi
2314
48 J,
Today's Net
Cloifl Chg.
38!4 I- '
30Yt- Yi
14 .
.W H
80 1
30 H i
29H 3Ji
37JJ Ui
2fl"4 15
70- Y
1204 Vi
10 H
10 14
49 r l"4
5514 '
33Ji 4- 2i
79 I 3
5 V Ti
Hi V
34J4 ?i
20 1
7U4 a
90
5214 ,4
103 Ji 4 '4
1104 I'a
118V4 I- i
09)4 3!4
8H HI
37HH 114
CI r lH
9J 1
7S"4 f '4
711 14 Vi
81'4-f V
5'4- '1
34 '4 3 '4
r,9i4 54
97 Hi
30 1H
19
15"2 314
97 2
II1J '4
4
:,; H
39 V 1
70
Hi- " 1
1(10 f 4
35 r 1
r,934 h 1 "
25 'r
51 '4 L Hi '
4914 r 3'4
I -
714 1 '
lli-- I' I
25 '4 I" 1 Vi I
3S 3'i
62'4 Ui 1
51 - ',i I
29J4 !4
no ..
71 . . !
1034 i I
23 -- 1'4
31 '0,
3014- 3lj ,
30H 1- H
37 1
34 1
55 '4 1
4H ..
19 - 1
24 34 i
40 ..
l!i 'i
83!4 Ui1
co 1 Ji I
07J4 14
30 1'4
57 3'i
15 I
014 14
20-i Yt
1014 ?i
5i 14 1
1014 ' 14 1
57 f- 1(4 !
13H Ji
l7Ji 1
59 Hj
3U4 14
13'i lJi
H4
54 3Ji
80(4 4Vi
137 3H I
10 J- 14 .
03 J- 1
7it:-t- 14
31(4 3 3i
07 (4-- 3(2
(,5(4 1
0 'r- H
niv.
Fate, In t llkh
1000 4 Kclly-SprlnRfleld Tiro. 37 Ji
100 0 Kallv-Sncr Tiro 8 nf. 78
"u . . Kennccott Copper . .
300 e Lnckawnnna Stoel ..
300 . . Lnclcdo Gns of St L.
loo . . Lako Erlo A West
600 Tin Rubber Tire..
000 a.BO' Lehlch Valley ...
18J4
30
53
12V
3 H
40
11
o
800 2 Loewo Co
300 1 Loft Candy
100 1 Louisville A NanhvlllelOS
ion .. Market St Ry pf U
100 .. Market St Ry pr pf... 30
500 ., Marland Oil 13)4
300 .. Maxwell Motor 3"4
100 . . Maxwell Class B 108
300 .. Mny nept Stores 90
100 7 May Pept St pf 0014
31000 u Mexican Petroleum ..IfJi
01 2 Miami Copper 30(4
I'M 1.00 atldilla States Corp... HJ4
100 .. Mldvolo Steel 22V4
SOO .. Minn A St Louis 10
100 ,. Mo Kansas A Texas. . . 3
100 . . Mo Kan A Tex pf 1
1100 .. Missouri raclfio 10
400 .. Missouri Pacific pf.... 38
300 .. Mulllns Body 10
300 .. National Actno 14
100 .. Nntlonnl Con A Cable. 1)4
310 0 Nat Ennm A StamD. . 48
i"0 7 Natlonnl Lead pf...
100 0 N O Tox A Mex
200 B N Y Air Broke
709 5 New York Central..
100 . . New York C A St L.
100 2. no New York. Pock. ...
8
31
63
15
55
11J4
SDl2 4
3 33 '4 -
314
10(4
3s:-4-
14
1
f- U4
U4
4
'4
- 1
4390
100
500
1700
429
300
4530
3'JOO
500
100
590
7i)0
too
1200
100
700
0500
590
500
7C0
310
900
400
1003
200
200
3700
100
109
.1100
100
300
1703 t
1390
200
1500
700
: 100
200
200
200
300
fi200
1290
3100
100
5300
1100
100
400
400
309
300
31S90
300
2fl
200
5500
1300
900
1300
1709
109
200
500
1800
400
4200
600
3100
700
1709
400
G700
400
..100 14
. . 60
.. 60(J
.. 08)4
. . 43
.31.
174
17(4
33(4
CO 14
.. New York N II A II.
1 Now York Ont A W. .
7 Norfolk A Western . .
7 Northern Pnclflo
.40 Okla Prod A Kef....
5 Pacific Gas A Elec. . . . 51(4
. . Pacino OH na
0 Pnn-Amer Petrol .... 50Ji
fl Pnn-Amer B 44J
2 Pcnnsylvnnln R R.... 33(4
.. Penn Seabonrd Steel,. 7?J
.. Peoples Gns Chicago. . S(H
.. rcorla A Eastern It
.. P re Marquette 18(4
. . Pero Martiuotte pf . . . . 40
.. Phillips Pet 17ii
.. ricrce-Arrow Motor.. 1014
8 Plerce-Arrovv pt 40
.. Pierce Oil 0)4
5 Pitts Coal 65
8 Pressed Steel Car (16 Ji
8 Pullman 00
8 Tunta Alcgro Sug-ar. . 28Ji
4 Pure Oil 20
8 Railway Steel Spring. 75(4
. . Ray Con Copper 13(4
4 Rendlns on (
2 Reading 1st pf 3S
2 Reading 3d pf 38(4
.. Republic Iron A Steol. 43(4
', Republic Iron A Stl pf . 80
.. Republic Motortruck.. 134
SO Royal Dutch Amor... 514
.. St Louis San Fran... 33)4
. . ht Louis San Fran pf . 31
.. St Louis Southwest... 22(4
. fel Louis Southwest pf 28 Ji
.. Santa Cecelia Sugar. . 2
.. Saxon Motor :tji
.. fctabonrd Air Lino... 0
. . Seaboard Air Line pf . 0
.. Seneca Cop Corp 11(4
. Sears-Roebuck 71
.74 Shell Transport 40)4
.. Sinclair Oil 2i
.. Sloss-ShefT 32(4
0 Southern Paclflo 73(4
.. Southern Rati 10)4
.. Southern Rail pf.... 44(2
.. Stand. Oil of Calif... C8
C Standard Oil of N J. . .135
7 Standard Oil of N J pfl05Ji
. . Stromborg Carb
7 Studcbaker
. . Superior Oil Corp. . . .
1 Submarine Boat Corp
.. Tenn Cop A Chem...
8 Texas Co
.. Texas A Pacific
1 Texas A Pac C A O.
5 Tobncco Products
. . Trans Con Oil
5 Transue Wm Steel . . .
8 Union Bag A Paper. .
.. Union Oil
10 Union Paclt'.c
8 United Drug
8 United Fruit
. . Unit Rwy Invest pf.
3 United Retail Stores.
..US Food Products..
..US Ind Alcohol
..US Realty A Imp. . .
8 U s Rubber
8 U S Rubber 1st pf.
200 3.60 U S Smelt A Ref pf . ,
30
. 75
. 6
. 0i
. 7i
. 33 Ji
. 21 Ji
. lJi
, 54
. 8
. 31(4
. 04 Ji
. in
, 115 Ji
. 8S
.107)4
. is
. 64 14
. 178
. 52 J,
. 4fl
. 53 '4
. 54
. 30
. "J.,
.100
. 401,',
. S8J4
4
ai :
4', I
l'i
,
83 A
10
40Ji
40 A
134
53'4-l- 314
092 "j
H'2- 14
3!, - i
9 34
24(i 1(4
4S9
a x
3;
35100 BUS Steel
100 7 U S Steel pf
2(100 . . Utah Copper ....
2000 . . Vanadium Corp . .
500 . . Va-Carolma Chem
100 8 Vn-Car Chem pf..
000 . . Wabash
a00 .. Wabash pf A
800 . . Western Maryland
COO . . W ste'-n Pnclllc . .
(100 .. W-.t Mar) land 2d pf. 17'
600 4 Wiatlnghouso E A M. 41i2
700 . . V,".ic!ing ALE HY
400 . . Whe, ling A L E pf . . . Ill
100 4 White Motor
00 .. White Oil Corp
3300 .. Willys-Overland ...
500 . . Willys-Overland pf .
100 .. Wisconsin Central .
200 . . Wright Aero Corp
0.1
7Ji
31
i
25 14
30Ji
84
Ji
28(4
28(4
U'i
Total sale,. 432 300 shares cmpareiS with 500.100 nharea yesterday. Thu, for this wirelt. 5 110 000 share,.
Low
30)4
78
iai
3Ji
03
1314
20
47H
10
0J4
108
14)4
30
13)4
3)4
108
no
0914
111
104
lOJi
23)4
10 Ji
2
4
18ji
30 Ji
10
11
1'4
43
100)4
60
60)4
00
4.1
31
10
17)4
03)4
07(4
Ui
50-54
-'14 Y
40)4
44
33)4
7)4
40
11
174
40
17)4
17Ji
30 Ji
0
54 (4
C4
05
38
35 Ji
75)4
14(4
G4Ji
33
38(4
Ji
80
" Kb
51
31
30Ji
21)4
38
2Ji
334
0
9
11)4
08
40
30
33(4
70 J,.
18Ji
43)4
08
13!
105 Ji
38)4
71 Ji
44
r.si
' 7)4
33 Ji
204
10
52 '4
7Ji
31(4
04
18
115
85
1114)1
17Ji
63 Yz
17
50(4
45
534
3)i
30
73
1054
47)4
37 J4
24)4
(15
7)4
20ii
14
24
17
43)4
7Ji
16(4
20Ji
8Ji
OJi
28
28)4
OJi
Today's Net
Cio Clip".
374 2)4
78
184 14
30 3(4
833
13)4 Ui
204 Ji
40 114
10 - Ji
014 14
108 3
11 14- 3J4
30 1
13J4. H
3)4- '4
108
80 - Yt
00(4- 3'4
lt74
30(4 V
1U4 (- Y
33)2 14
104- (4
3
4
18JJ 1'4
37J3 1JS
10 (4
14 - Ji
II4 ..
45 3)4
ino(4 Y
50 2(4
60)4 '14
08 h Ui
43 1'4
31 Ui
17(4 IK
i7i2 1- m
1)3(4 1- US
CSJi f 2
51(4
35
604
444 )
33)4 r
W
Hi
34
14
14
3
14
Jo
14
4
(4
2
Ji
KEN COMPETITION
IN STEEL TRADE
Consumers Derivo Material Ben
efit From Manufacturers
Hungry for Business
50 J4 2'4
11
18 4
40
17J4 (4
10)4 114
40 -I
! -1
64 3; f.
05 3j (
00 38Ji
30
75(4
1314
054 3(i
3S 114
38)4- H4
45)4 m
80 (',
12J4 14
5114 114
23)4 214
31 3(',
2314 3)4
SSJi 'i
3Ji
3Ji '4
0 - (',
0
1414 14
.1 Q3
40 - )',
20 Ji r Ji
3314- 14
72)4 214
10(4 1
44(4 3 '4
r.s
135 4(4
105 i- J,
31 1(4
73Ji ljj
- V
Ji !4
7)4 14
33(4 i
21Ji lJi
104 Ji
54 2(',
7Ji - Yt
31 '4 1)4
r.iJi- Y
10 1
115J, 1
85
107)4 34
7'i 3,
54(4 2)4
17J0 lfci
52Ji 2Ji
40 3
55(4 2(4
'314 Ji
39-1
73 1J4
105 J4 14
48Ji Ji
28 (i
25 -I nl
5 2J4
78 Jo
30 ( 1
34 f j
35(4 r 3i
17', 1- 1
44S 215
814
1(1
20Ji
8J4
0)4
2s(4 H
28(4 -
Ji f
Nciu York Bonds
"
B 40
Erie It n cv D
10 no
Kris lty Co 4,
n ns
1 02i
Gene' I Elec 0,
1.... 100
Oooilyear Tire
A Hub e
Ji
I
Jo
Commodity Markets
GRAIN MARKET
Clilcajro, .lune 2,"i. July wheat
Ktarted 'ic higher anil September '
better, with buying led by n prominent
commission houe whose crop expert
wilt in another bullish report in regard
to wheat in South Dakota Receipts'
inepettci yesterday were li.'! ar; last
year ''." cats. Thi ctfli market was
relatively firm, with better premiums
paid for all crude. Country offerluu0
to arrive are fairly liberal A moderate
amnunt of wheat is beiiiK taken for ex
port daily.
The latest weather reports show lib
eral tains in parts of Kantian, Mis-sourl
and Iowa, while tlieie is continued dry
ness in the Northwebt. Week-end een
nig up betnein locals 13 likelj . while
there Is nothing in the news likely to
attract a broader outside trade.
Corn started slow nnd unchanged to
c lower. Trade waa light and fea
tureless,
Oats opened unchanged to v lower,
with u small mixed trade. Hud crop
reports are in trom South Dakota.
DROP INJBANKCLEARINGS
Exchanges by Local Banks 24.0 Per
Cent Below Last Year
Declines In bank clearing) rnngiug
from 17.7 per ceit in the cafe of New
York, to I- 1 pi r cent In Kansas City,
nie t-hown in thn week's reports from
the arious cities ns compiled bj the
Commercial and rinnm ial Chronicle.
The aggregate for the entire countrx I.
$ii.ri:j.tj.-.l.iMil, ngaiust Ss,8.'U,7.I0.1ii'.i
this week last year or o loas of Jl ."
per cent.
Total exchanges of the banks of the
loenl clearing limine asuficiation were
S.'lL'7.1."0,":i7. This compares with
S-i;i0,.ri0,VJ7t the correspoudlng week
Int year, or 11 decrease of 1M.0 per cent.
Comparisons follow :
Due
1021 JOi'O ! 1
York 12 liU4.102.O0O J3,nuu .',! I 127 17
Philadelphia Stocks
i'h,'
PI 1 m
hommii
Km .'iiy.
ht I.'iuis
Sun Kian
ll''HliurRh
I..tr,, it
. Ilu.' imure
lV urlens.
atl4.K2S.231
327 1SH.2.17
22H (47M.I10I
111,(117 12'l
S7.' 20 1st
100 eon onil
illl 0(10. O11O
7.1 Mill )II7
.'.3.U21 :il7
12.000,1,07
r.2S Sl,2 J 15 21 2
430 JO" 'j7i 24 O
L'HI l.'il i ; 2J ii
in (12 i ', 42 I
HI 114 .(I . .. '
131 IIOO OOl) 2". 1
l.'.7 .-,7 2' an 1
Ilu no 1 urn 'ii ,i
7 II I fl", 8s 7
HI 7uu,70l JI 11
COTTON MARKET
New York, June U.T. Shorts wero
active buyers at the opening of the cot
ton market and lirst prices robe 12 to 4
pointN. distant options showing the most
strength. July wns retarded by deliv
eries of it.1,000 bales at New Orlcana
nnd fears of increasing stocks here. Liv
erpool spot 1 oneeins and Wall Street
were among the heaviest purchasers here
at the outset nnd most of the selliug
was trom tli" Smith. Demand kept 1111
after the 'tart and prises lose .1 to 10
pointh furiner.
Th" better prospect-, for an early
settlement nf the l!i ilish coal strike
and the action of the New Orleans
market in the face ui July notices were
important factors In causing a rally
later In the morning, und for a ttino
there wns un uctlve demand for October
from one of the Wall Street housca
which was recently a prominent sell
er, which bent the price up to IS.'-'Iic,
or '15 points net higher and more than
it cent above the recent low record.
The difference between July and Oc
tober in New Orleans widened to DO
points nt tl penlng. but luter nar-
mwed. nn I 11 was r ported liini nonces
11111
a
connect ions.
lllsh
10 Am Sirs
pref !ll"4
1.'17 nice Stor. !l!)
JO I Co N A 'tt
7," Lake Sup "Mi
Ifi Lob Nav. OL'.
1." Leh Vol . -I7s
11." I'n R R.. ,W.
.'SS I'hllu Klc UP i
:i.'i do pref., .-,a.
."OtReading. Iltivj
Low Clone
Nt
thiie.
New York, Juno 25. There lias been
no Incrensr. In the demand for steel
products during the Inst week. Con
sumers nrc out of (he market and only
moderate- inqulrlci nro heard of in the
various finished products. When thcoc
inquiries appear tho competition is
grentcr than nt any time in recent years,
and it Is probnblc that fomo users hnvo
derived material benefits In tho form
of low prlcea because of their ability
to get mnkers to bid for their business.
Although steel bnrs nre f-tlll quoted
nt .?'-! per 100 pounds by the trado
publications, it is known that orders
hnvo been plnced nt considerably below
thnt figure, nnd it Is doubtful If n
consumer would bo willing to pny SL'
nt this time in view of the knowledge
thnt orders hnvo Wn reported ns low
ns $1.00.
l'lntcs hnvo nrtunlly sold again dur
ing the last week nt below .$1.00 per
100 pounds, whereas the price estab
lished by tho Steel Corporation when it
made its reductions Inst April wns
Sll.'JO. This Is n difference of more
than SO u ton, which is being taken
ndvnntago of by consumers who nro
compelled to purchase nt this time.
Tho establishment of such low quo
tut Ions on nctunl orders has led to re
ports thnt nnother reduction will be
nnuio liy the htcel Corporation within
a comparntlvcly short time. Officials
state that there Is no present intention
of innklng nnother cut, but conditions
might change overnight, so to sneak.
so nn niinounccnienl of n cut would
not cause nny great surprise in the
trade.
Talk of Wage Reduction
More talk is heard of wage reduc
tions. Independents nro hoping that
tho Steel Corporation will mako an
other cut in the pay to its workers in
the near futuro in line with the read
justments which nil ndmlt must come
soon. However, thcro has been no In
timation thus far from qunrtcrs usually
well informed that the Steel Corpora
tion is plnnning such n step.
The argument is udvanccd that nn
other wnge reduction would menn that
labor has been liquidated for a con
siderable time to come, but It is admit
ted that this is only one of ttic anises
of high expenses for the various plants.
It is known thnt tho curtailed opera
tions nro costing more per ton of steel
than would be the case if the plants
wero operating nenrer capacity, and
more business is one of tho main needs
of the steel industry.
ComplninUi hnvo been tienrd from
sonic independents thnt on recent in
quiries for steel products, notnbly bars
nnd shapes, they have been compelled to
face competition in the form of reselling
by consumers who purchased the steel
some time ago and tind that they nre
not In need of nil the material they or
dered. These rcsnles have been made ut
low figures and tmve filled the wants
of some other users nt highly attractive
quotations.
Considerable stress is una on tno tnct
thnt the business offered the enrriers In
the Inst half of this year will be Inrgely
in excess of the movement during the
llrst six months. It is maintained thnt
ttie carriers will prepare for this busi
ness by putting their rolling stock in
iiliupe to handle larger traffic, which
should lend to n better steel demand
from the transportation companies.
Automobile Makers Out of .Market
Automobile compnnie.s nnd makers of
harvesting und faun machinery arc out
of the steel market nt present. The
first named are likely to become buyers
long before there will be a resumption
of demand from the implement manu
facturers because the latter have a large
surplus ot linitic(l ninterinl on hand
which they must dispose of before they
enn resume operations nt their various
plants. These companies also are car
rying a stock of steel which will be the
first to be worked olt when production
is resumed. Therefore a demand from
this quarter is not likely to develop for
u long time.
There nre still some observers of
steel conditions who epress the belief
thnt the situation will change for the
hotter by the end of August or early in
September. However, no onu In the
trade Is looking for any decided spurt
in buying for many months, nlthough
they do expect pome slight Improvement
during the fall. Thus far, there nro no
indications that this improvement will
be sufficiently large to cause any great
rejoicing among the steel manu
facturers. l'ig iron mnkers appear to be without
hope at present. There is no demand
for Iron, and when small inquiries hnvo
conic Into thn market the bujers huve
hnd no trouble in placing their orders
.it concessions nom ine icveis which
1
2...
1...
1...
I...
3...
Oovo' t Fronctv
P. 7H ret,
10 10.1
10 06
rjovo't F II 8
Artftrn Kn 4,
1 no
Am Air & Ch
714, ret,
1 04
ASA U'c B,
1 70
Amn T & T 8
2 82
2 82
Amn T & T fl,
4 07
4 07
1 07U
1 07H
Am W r 4V4,
1 01
Armour 4Vi,
1...,. 77U
A T 8 Ffl 4,
It 76
A Kefir ct 0U
0..., 100
2..., 100
Halt ft Ohio cv
1 C0T4
1 07 J
1 07
1 07 V.
n ft Ohio ay,
1 81U
Unit A Ohio 4,
1 OStt
Unit A Ohio B,
1 07
ll.ilt ft Ohio 0i
2 88
2 88tt
E i O F I, 1)
A W Va 4a
1 on
1...,. 02H
n 4 O Tol 4,
i soy
Hell Telephone
of ra 7,
1.... 103
Hrkyn II T 7,
1 47
Drkn Ilapia T
ct 7a Bta
1 42V,
10 43
I3uh Ter'l 61
1 71
Canadlnn N 7,
1.... 101
.1.... 101
B.... 101
Confl Dl Tel
Comp'y Ga
1 80
Ccrro do Tasco
Copper 8a
0.... 105
C A O cv tVca
2 7BH
1 72U
C'k & Ohio Sa
1 87'
C'k A O cv B
0 704
Chl B A Q 4,
0 ... 00.00
in.... on on
c n a q' n6
20 novj
20 000,
i oo;
1 00,,
Chl A O W 4
2 48'4
Chlcnvo Mil A
Bt Paul 4a
1 04 i
Chlcano Mil A
atP cv 4H"
1 00
1 00
1 (10
2 04
Chlcafen Mil A
HIP til 4jft
1... . BOH
ChlenKO Mil ft!
Stl cm 4 'is
a 7i4
CAN W Oljs!
1 US
Chl Ualliv's .'.a
1 02'
Chl U I ft 1 fd
2 c.r,
1 04'4
C U Stu 44a
B 78
Chlcavo Union
ta ct 0V4H
2. .. 102
1.. . 102
Ohllo Cop'r 01
0 "IS
City Heme 8i
1 O0H
Cllv t'hrls't s,
1.. .. 07
City nf Copen
hagen B'llB
2 .... 7I4
S.. .. 7t',4
B .... 74 ;
2. . . -4
C N Yl: 4 4' 03
1 8S4
City 1'arln flu
n on
1 nn!
12 Il0,
tBM.r.S IN $10001
ErloiUenl Men Pan Amer ret
08U
08
08M
08
OS
09
07 :
07 .
07 H
07 S
117
074
07.
,Qd Trunk ret.
1 1004
B.... 100'i
1.,.. 1O0K
O Nth Itly '
3 004
llud A lift" H
2 05 '4
1 03W
Hud ft Man in
38V
,18i
88U
38 U
.184
.18'i
3SS
hh4
38 '4
38 '4
' 38'4
384
38M,
111 Cen'l 4s 'B3
4... . C04
Intb Met 4V4s
2 1IH
Intboro It T fd
1..
10..
10.:
4..
nn
"ii!
o..
4..
n
ii)'.!
ft
12.
10,
15..
10..
1..
5..
n..
10..
in.,
l..
4..
B..
r...
s .
l..
l..
R..
I..
10 .
1 .
0.
B4
Sl'4
B3'
B3'4
B3i
B3i
. e3
B3S
B3i
r.T4
03 ',
Bt
B34
M'i
BIK
B4
044
r, I'd
BB
I M Marine 0,
1 78
i... . 77n
Iowa Cent'l 4,
1.. .. 30
Jnp Oovo't 1st
10 84 4
Kan C ft S 3,
1 B3
Knn C4S B
3 7B
K C T Rty 4n
1 .... oni
II Ilelglum 0,
2 . . . . 02
2 P2'4
1 .... 02'4
K Ilele'm 7s
ft Tr Co 7
1 87
ra It gm 4
1 7-1T
a 74i
renna II It M
83
Penna It 0W
2 00?4
1 T ,
(1 00
1 07
Ponna It II 7a
2.,,, ion
1.... 10194
1.... 101H
i.... lOHi
Public Servlco
Co'n N J ns
1 04
Heading- Ry 4a
1 7a
B 71
1 72H
rtcp Chile rcta
0 ih
10 0B
22 0B
1 08
1 05
rtlo Orandn ft
W'n clt 48
1 B0
Ilock Il'd A ft
Uun 4 Mi a
1 em
St U ft S V nj
2 03
t 13H
3 0314
. 04
2 04 K
st i. & a r in
1 40i
3 40
4 CO
in coy
o r.i
at I ft 8 rrn
Serlea A
n boh
1 BOtt
1 (sate) B0
St Is ft 8 Tran
Scrle, B
2 70H
3 70V4
St L ft S Fran
Sorles C
0 RO
1 80
10 80
St L. A S Fran
Km Oa
1 04
St Ii Sow'n en
1 0OW
St I. flow'n Be
4 04U
Sao Taulo of
Urasll ct 7b
1 04'.i
Seab'd A I. a J
2 20';
0 20i
Seab'd A 1. fd
1 37
Sinclair C Oil
Corp'n 7'-ja
01 ',4
. W
- f 1 1 " JH
BUSINESS AT LOW GRAIN MOVEMENT
EBB ON THE CURB
Brokers Take Advantaga of
Wook-End Holiday, Leaving
Market to Itself
New York, Juno 2.". Trailing on the
Broad Street Curb was of n typlcnl
week-end character, there nclnir only :i
small nttendancc. Numerous broker!
nnd trndern nnd mnny of Uio operntor
who are depended on to furnish ordcru
in thnt trading group wero nyny from
tho city, leaving the markot, to virtu
ally tnko core of itself. Tito total rol
titnc of business wns the lowest trans
acted in n long tine, nnd tho prlco
movements were proportlonnlcly nnr
row, consisting crlcfly of 6mnli lossett.
Olcn Aldcn Coal wns nbout the only
fenturo, that stock contlnulnir In supply,
nnd yielding to 37. Thcro was n"
small nmount of business In Ileydcn
Chemical nt its low rango of 1 nnd i!
nnd United R'otnil Candy sold nt OH
A small amount of business was done
in Acmo Coal nt IVi. Commonwealth
Finance common sold nt 43.
The petroleums were quiet, being
oiny migniiy lnnucnccd by the pro
nounced strength nnd nctlvity in tho
on stocks on the exchange. Midwest
Ueflning declined from 120 to 124.
There was only light trading in Cities
Service issues, tho common selling at
12i5, tho preferred nt 43 nnd the
Bnnkers' Shares nt 13. .Thorc has beon
some improvement during the week In
tho prices of tho common stock of this
company.
Carib Syndicate tnndn n trifling nln
to BVi. Slmms Petroleum wns traded
i? 9n J'10 Inrlfest scale of any of tho
( ur,b , Issues, but yielded from ll:i
to 0.
INUUSTOIAIJ
HELPING THE WESff
Supply of Wheat Has Bej
irumonqous Influonco in
Steadying Conditions
14..
01
01 H
01 ,
PIS
OH.
01"
014
,i,,,r ,,'., V" . s I liti ruled on previous transactions.
I"H !! , "
.ITT I-t" '.
1)2' i 1)2 U
. ill) -f2',
2!) L'I) -f i.
V. 'j :l
'.' ! ConccKsions nre likelj to continue right
.,-? .'.i?T ," along unless there m n sudden reHiimp
'.717 '.',,,' M Hon In buing, which is nut looked for
Xi 2.V'" !ttl ,rc,b"t'
xiVH :::',i. i : i livestock quotations
1 034
2 0SH
1 084
4 nsu
i n'4
2 P8s
3 OSS
K BelB'm ret,
1 074
2 074
2 mi
1 07
Klncdom Den
mark ct 8,
1 00U
2 HO",;
1 004
1 .... lW'S
KltiKdom Nor
way ct 8,
1 inoi;
n . inn
i ... 100
Lock Steel 'B0
I ... 74i
Lehtch Val 4,
1. . 07V4
L ft Myera 7s
1 105'4
I.ou ft Na?h 7,
1.. . 1034
Mich S Tel B,
1... . 8B
004 Mid 8 ft Or B,
City Zurich 8s t .. . 7li
1 07 0 ... 74'i
3.... . 07 M ft St I. fd Bs
Colo ft Ko'n 4,1 1 . . . 41
1 . 7Si N Y Centl 34
Colo ft S I'4h r. . 034
1 . . 72-,i r, ... 03i
Cons'd lias 7s,Xew Yk Ctl IH
2 ... 100ii l 884
Cuban A H 81 . ... 881,;
1 DO'i 1 88'4
1 UOVS'ew Yk Ctl 7,
0.,
1..
1..
1..
S'n Taclflo fd
1 73H
B'n Pacino lt
1 08 V,
So'n I'ao cv 4a
8 77H
South' n Rly 4a
0 B5
Stftnd'd Oil of
Calf rets
2.... 101
1.... 101H
1 ... 1014
Swlt7.'d Con 8s
1 104
1 J04
Third Ave. aj
8 27U
Tidewater Oil
Co ct 0 4a
1 02 i
B 03
Union Tao fd
1 734
Union Tao 4
1 70
V Tank Car 7s
2.... 1014
3 1014
1.... 1004
4 1004
U K of CI Urlt
ft I'd 1021
10 00 K
10 004
B 004
U K of O Hrlt
ft I'd 1022
2 .... 074
UKctO Urlt
ft I'd 1020
1 .... 87;
21 8S
20 (salo) 87 4
2 (Date) 87 4
U K of & Urlt
ct I'd 1087
B..
a, o , HlJfh J-ow Ln,t
Acmo Coal Q 11 11.
com Flnanca 48 43 4a
(lion Alden H7 37ti 374
Hayclen Chem . . . . ; a 1 2
Terfootlon Tire 11 2
tr h mmU 1r.u,ln't 23.1? 28? 23
U H Nhlp Corp 14 X
If a Htcam i jl
United 1'roflt Sharlni: .. IVi 14 lU
United Hctall Candy ..I! o?i S3 0-1
STANDARD QUA
Standard Oil of Indiana.. 03V4 03 03
INDEPENDBNT OIIJ
Allied Oil 0 4 B
Halto Tot BU SH 64
Uoone Oil S t
Do, ton Wyomlns On 00 00
Carlo Byn BU BU BVI
Cities ServlLO (old) 12B 12B 12S
Cities Service "II" ctfs.. 13 18 13
Cltlea Service jif 43 43 43
Denny Oil 12 11V4 12
Engineers Petrol A 4 A
cillillnnd Oil s S B B
Hudfon Oil ,, 4 A
Int Petrol 13 13 18
.Merrltt Oil 74 74 74
Midwest Ref 120 124 125
Noblo 20 18 20
I'rnnoh OH 4 4 4
Slmms Pot n 0 ti
Hkolly Oil 3H 3U 3H
Toxon 4 H 4.
Un Texas Oil A 4 1,
United Iloyalty 2 2 2
n.lraR, .7no M.-The mo, f. J
awo feature of the general bJ2
s uat on in (ho West the con fe
iiDcrni movement of grain which I, ,?
sultlnjr in the liquidation of loans Ji
considerable extent, with a KcnW,V
cooler money situntion in many m '
In the Southwest nnd C"if '
movement or wheat has kenr mT "
tho cxpcctntlono of everyone ?nbiC
prices have been obtained fnr 1id !l
of It The mtpply of wlcn 1 a, A
ample for the Rrcatet rxport luSi"
ever known ns well ns for nil .i"w
requlremcHts, nnd undoubted!,' hT
a tremendous influence toward st..?.
ing conditions. Ba;,'
In tho wholesale nnd lobhin. , .
conditions nro not nff ij,
Thcro Is stilt no tendency t TO
pate futuro needs to anyCSVnt J$ft
In cotton boocIr there ! n fall ?
Bonnblo demand, nnd In notion, i JS"
crate trndc s reported PlnMBoa'i
only fairly active, Although Stalfe
hns been somew int better Li." "
ad ln? well on account of he uSr
nbly hlih temperatures. Ma908,
In tho major lines of inuWrw .
mprovement in the buildlZ .iif..
has increased the demand fomaffl
Including lumber nnd structural p
to some extent, but the addition t?',ft
buying ordcra held by steel TJ $
plants has been negligible in affect
the general status of trade. pK&
tlon continues at n low ebb nnd ii,
lias beer, considerable redistribution
former buyers, who have been Mb3
their purchnscs. JU0I)UI
The coal trade is still slack nnd m,
duction is moderate, the movement
lag comparatively small as tliero L m
neat amount of forward buying H
the icatlier industry no material cinn-i
for the better is reported. In i"
cases tho shoo trado is reported bctte
but buying is still of a desultory ibt
Money conditions are more comfort,
able with no shading of rates of Z,
hcqucnco. Tho rate 01. collateral hiS
was quoted by Chicago banks att
per cent; 7 to 7'j per cent on com!
mcrclal pnper nnd 7 per cent IZ
the counter. Collections wore tald 2
be fairly good. w
Cuban C 8 cv 1 . . . 100
24. .,. 07 1 .. . !)0'4
1 07 Sew V N II
8 07 II 4, of 'Bfl
1 07',4 5 .. . 424
1 flip's Th Tele 0,
Del & Hud 7s 1 .. ., 01H
1.... I'll W 1 01
Denmark Con 1 ,,,. no'A
ct A 8s New Y W C &
3 OS Stoat 44m
1 l'8'i 3 .. . 33W
2 . 08 i Vfk & Wn 4h
Denmark Con 1,,, 7414
ct 11 8s Nfk A W cv Oh
1 fl8i B . . 100
2 OS't 3 10014
Den & It U 4a in 10014
1 02HI 3 .. 100
2. .
U S
0..
0..
o
B.i
1 .
:.(j u (. 1... ,'i:p. .'wvu :::',i. 1 : i livestock quotations
.'UOtt'S Ktee 72i TVi 72'H- "v I ( IiI.ukh. Juno 2'. - ATTI.K-ltvlPt,.
'Net chunKe mad'i by comparison with last I liinn lifiid. Compan I llh wi-elc cik.i. Choice
l on Now York Mlock lixchanite. I 1 1 .mo fed aleern, !" lu 2."c lower In l-
Total ,ale
Hib'.i tdiaioK vesterduy,
20.722 nhnicH.
1201 share,, compared with
Tnus far thl, week,
I'lIII.ADin.I'HIA RONDS
2000 Liberty -Ith -I'jk
r000 Liberty 4th 4V4s
lOOO Victory 4:,i
20,-i0 Victor 4:',s
1(M)0 Lehigh Nov cons -i'-.-h
1(100 Lehigh Valley gen l'...
.1000 l'ennslvnnia O'ii lots
1000 I'lill.idelphia Klec 1st Tis..
JO00 I'liilndelphla Lice 1st fis..
loon lJeudliig general 4s.
1 lltt.TH
mh. r,un 10
us.; ii2
ST,
7:'.'.,
1)7
Sllt
SI
l
I.1B3 numl-
1 1 11 s .n. hum. 5" low
11. 1 I K RtisiilV.
III:!-'!' II. celols
i, 11 luts direct to i.iil, ik. Cumiiarpil with
w.i-K "Kfi l.lKhls iii'-'ti. chikIs, h me nu
ile l,wer. low Kriel mil he.i nh. ,p
.11 und Ktcadi f.n h mdy wi'lKhts mostly
tUc hluher.
1 02 , .,rth Wo'n II
I & It a 4'3s Tlu 7
1 "7 r. no
Det U n lis 1. . . p,t
1 flft'-a -J tl!)
Do Cnnndii "21 1 no
B 00 2 III)
Do Cunnda '20 3 .... 08'4
1 (cile) 1114 N facino It 3s
Do Canadu 20 . Bt 14
4. ... 00 .... SI
N Paclflo U 4i
1 7.H,
II 73i
OrK-W'n H Co
Navl Co 4,
emour, iiaij
B . . CIS
07 iP I. & Pwr Bs
!I7 1 1 7
ciniio hmd. Toda's ! iiun I.lirhi tin l'.,i..nr.i nir,,n.
.i ,. 1,1 -
2 . 1)0 I Cur Co hs
2 . . no 1 . . ni:
n M).4 i ... ni
2 no '
n crudci. Bo to Ml' lnttor, common and , Do Canadn Til
Brassy Kinds 7Bc to 1 1 lower, butcher Hhn , (.ni!
Htuek slow, irenercilly .slcudv c-inncrj nnd ,n
ana nuiu -.c 10 nnc cower; ve.11 ",, '
o M nnsner, mui cow, nnd ' "" icbji e on
B .. ..70V.
... 834
... KH'i
... ROVj
... 83'4
... 83'3
Brazil 8a
... 117
. . l7
07 '4
.. 117 '4
... 03
U H Mexico B,
1 .... i:.yt
0 4S
3 4B
1 . . 43
U S Hubb'r B,
4. ... 70
1 7H
1 70
U H Ituh 74,
I US',,
n ns
2 (18
l"d S Steel Ba
0 ... Ot',
2.... Ol'i
Va C Chem 4 s
2. 08
Va Kallw s Ba
1 SO
West Shore 4,
1 .. (1.1 14
V & i: Mfk- 7fl
MININO
Alankn-Brlt Columbia . .
Atlanta
llootli
Caledonia Mtnlnir
Cnndolarla jrin
Crcsson (lold
Crescent MacNamara ....
Kuroka Crocu,
Uuroka Hollv
(ioldflold Cons
(loldOold Kewnna
Ooldfleld Silver Pick . .
(ioldtlold Zono
IIccln Mlnlnu
Icon llloorn
Knox Dlvldo
.MiicNamura
Magma Copper
Marsh Mln'nu
Mother Lode Coalition
Mother lxidn (now)
National Tin
XIploain.-:
Nnrth Htar
Itox Cons
nochenter Mine,
fan Toy
Sliver Klnct Dlvldo
Ho Amer 1 & U
H Silver Icad
Success Mining
Tonopah Ilelmont
Tonopnh Divide,
Tonopah Extension
United l'astcrn
West End Cono
White Caps
Wllbert
IM)N1)S
Allied Packera 0s
Amor Tnl els, 1024. . .
Anaconda 7a 1U21I .
Chl West III '"
Copper Export 8s. 1022..
Copper Export Hh. 1023..
cliilena 7k ...
Grand Trunk 0'4 a .
Humble, Oil 7a
Intel boro 7h
I.il.ly McNeill Ka
Ecars-Hocbuck 7. 1022
uinwent lien 1a
1H
a
10
2A
ui
R
32
1H
7
8
11
.T4
10
14
IB
17
B
HU
B
4r
4
7H
B
3
1
B
4
n
1
1A
11
40
II5W
111 ,
.10 14
00't
0114
U.1'4
11.1'i
(IB
80 l,
tl.t
U7
liie4
1
3
10
28
li
8
32
1A
7
O
8
11
3'4
10
18
1.1
17
5
3'i
3
44
4
T
.1
3
1
B
4
B
1
1
1
3
in
2.1
ui
8
32
1A
8
11
10
1 1
1.1
17
B
34
B
1,
B "
3
1
r
3
1
1A
Philadelphia Markets 1
rV'IiIATQulot.an,(J Jc Iow,!r Quouukb
per lot. In export elevator No. rd ?
fl iis'niY .V "A1.,."0' - ro.a "" Mrllcki
I.884fl.l3 Othor (trades ciuoietl Vi V:
followTnB schedu e of dl-count, Mi,.d 'U,
2 V r.0, 4 "heat 7c under No. s Si
lh . i undcr -No- -' Sample' &&&
tociuallly. -"cm urewoai
i,. ,i.,i71,,S!c,?t"' n.8-31-' '"""lis
.."'.""" nr jiH9 in
St
i"i ;-,." ,-"c- NO. 3 whlto 47',Nt
I ,. Ill sicokg. Dull and ur.clmn,od. Oj2
t-..- '.-.
i r'ii v w'nicr HiruiRnt. HPitirn 17
Ml.n,1 nil N Y 7,
.Stand Oil N Y 7, .111.10
Stand III N Y 0"4
w-nr T.Titnilrv B . .
Vacuum 7a 100
40
n.'.'i
014
B'l'i
m
noH
ns'4
Ii3
ui'.
7'i
113
1)7
no;
n
3
40
ici'
nt'4
BIIV,
mi,
tin
C3Jv
n3I
(14 "I
so',.
U3
07
UO'i
in28. loiv, 10m lee
in in:
oat. ns'i
IKS 074
l)'4
io:
n
nik.
100
wi. nil, cio, u, ntnrliy. sn s,16; 10 hiS
winter. utrnlKht. J7.IO&7 5o. Jo. ,h"rt .
S".';, ".OOfflS.ao: spring first cl'Sr f'
7. BO: do. twtent. $8.2368 7B do h,iri V.7
ent. 18.7BWU.25 fancy sprint inj city m!i
?2l.nfamlly hrandar I1..BO&10 It,", taf,
$a."Bn.
ruuvisiuxs-yulct and steady. Quo'v.
'.'."' 4'i mi. nniohed und alr-drlrt
tlona:
alr-drled. 82c. pork family 43e. iudu. 1
V:ofur,2'1 l.'""'' -4r,2(it. skinned. Joom. 3
fC27e do. lo, smoked. 272Uc. h,mi. boW
boneletiH 13c; picnic shouldi-rs H. K carrt
looi-e. 15c; do, smoked. Klc. belli. , In picUl I
lol'i"wvJUJE,,..br"ak'tt8t h.icon. 22c, lard, lit -IIUTTEIl
d'lrm. with nllcf-pickld ,
hlcjher. Offerlnsi lleht. Quelatloni. SaM-
,, ,i-,,
in r.n Inir. ra 'jr.rt to B(JC lOWur
Z ') i ' ll"-s If'Cilpi,, Bono head. I.lKht h"K, I n Do Nemc
Ml. 00 unit bun her, sthadv tu htrntiB, others mostly ,,,,,,,
!lS 'IS 10c Io Hi lowei thiin Mst.rdii'a .iviTaiw. ' " ' '
., . ., -. ,,,,,1, tkin.,1,?'. ,.u. ,..., 1. 1 ... r
1..
1..
1..
4.
I'lttKliurgli, June
murium ine; I .il"'H J-i.O'io nines i
lei II lircilllH'i. i Hipped. lll'iMll I.J
I llllt- Willi v. ' "l'l
Jul
October
i'rH OUH
i 'i s nrien Hitch l i lr.e
HI S7 1" III) 11 38 10 8,1 tl III
i, -u i i.-. I'.' 'J 7 11 83 12 2(1
!1 '.. ... ... ... , ,n ns , Ar,Ha
ilVetmUr. 1? 8 !? i' Vi H Is 2? i 51
JKrch : 12 0 12 W 13.23 12- "-09
Spot. 11,200,
STATE OF TRADE
Despite, drastl rn.idjusimnts or the lat
yiji there are ,omo mctk'iB whih remain
ill llqu datlnn. nccurdlnir in It o liar Jt
c'o. Iiixrept for a Blncclo mst ir,ro carl thl.s
month, the list of wbolosa .. praea oompllo.J
by the aency has ilcl,,ed an mem of
recession. In every week for flfty-nlno week,,
and tho mnrnln of diollnts tl.i, weeK nn
reiv rted as ronslderible A further fall In
cotton price, ha, beon fiaturo In channels
whern speculation Is inlluentl 1, and advan.es
lr Aheit price,, cis'itbed to furH of nop
dnmano hnvo not tvn fully mdlmatiud
ith Qomanu, so meaicer in snm lines trnt
1 1 Ices are not be nv filly tet d It Ih ri m
thtt the cltuat o-i lack, lirinliees and iomrt
commodl'les vth.h i."tnt. xi rlen. i 1 ic
coery hae e!ld au,n 'I ho pilco n,fi,,
nierts of I 'C it we It, up, e,u ti moUo It
certa n ihtt inll-ecr conniiu'on of Inlet
numbers will show a c.i.itluuaiico uf the
c'ownward trend
Hr.idntre-t m In enmmentlnu nn the situ
ation. sjs that hlich t. inieraturea und the
advance of the season hae made for s nie
increase In too dlctrlbutlon of I Bht mion.l
Koods at rHtll. and fnvorcd u fairly active
reorder business nf tho small typo tr un Jul
Ltr, Colleeilon, were sllchtly slower.
"Weather irregularities ' say, the iiRcnrv.
"much needed riiln.s In some motions, par
ticularly the South, but continued drnuuht
and heat In other,, notably thu Atlantic Coast
State, Impart a little morn Irregularity to
crop reports though not materially cliHtw
Ine the Rood outlook previous v no'ed In mnit
important surplus irraln-produolnc orres
Hellection nf (ill, latter 1, had In the n-.t
Mtnllv lrn. rt.int declines ,'iown In wheat
io e'i d sy'ii ru.t reports from 'ho "wiOi
west and udvlcss of piei'in uro ilncrln of
liter wlieit ltfiioii, fn m differ i l s c
tlon, nnd , en I rani li, i nf ln em ., fru'o"
i I , t .. ui'f'.rmic a.thu ir,'h i: ;e i t
st.i. mi i.t rra be made to it th . c mm i
i i .' ,ue n the ciui-t i, i cs r.i ,it as
i, .iistrlbutton most of these bv O,. whv
nal.1 to be for sei.onal ' r noirlj wan s
. nine fiom trirt Central State, and the roor
osi fiom the South which ha, felt the Inllu
en a of the establishment of new low hIcjh
for cotton Home larce western point,, how
evar. clsjm that fall booking, today exceed
thOM ot a year ano, when bualnts, u on
the dawn rrd."
Total 120(130 comnared with I l'i,i ir.o I .tiicin he'i.l iflxlur
esieria inu car tnis wee, stioi.ijnci
.". IIOOS Iteielpts,
II,..ivl, JK TIlW Q I.O
li.'Kiy und IlKht jorker, und plus, J'.i 1.1 fi
II 23
s-ltnEI' AND IAMn.S Itecelpts, 300 head,
hisady. Tup sheep 53 2.1 top lambs, 1I in
CALVES Receipts SO head. Steady.
Top. til.
Juno 2B CTTI.E
Hull. Calves Hi
ll 3D lower at $1
FOREIGN EXCHANGE
Now Yorlt, Jimp !iS. Foreign px
ehnn;;c opened this mornliiK n Miuhr
frni'Uoii ubovo thn rlosiiiR fiifiires of lii8t
niulit on nil tho rutes with the exception
of mnrk8. whleh wore n point lower.
Quotations; wero;
Storlinjc itililrs ,T.7,'!T1. dpiunnil
.'!7."N; frnno rubles S.00, ehc e 7 011;
llelL'iun rubles 7 !)7, c-heelis 7. '.Ml : liii.
enllles INS 1 lieeki 1.S7'.. ! Sill ivw xnl.l.M S3 SO id
1(1 S.". ..l.ecl.w 111 S"' nrsidii fMiliInu l'i 1 ! " lx' 1 "n
chcclts l.'lld; cuildcr uib'es ,'!'J !l(' .
cIu-c-Kh :W.ill ; Storkhnlin eiihlcs .'...'!.',,' MONEY-LENDING RATES
(MPr-Ks -J. .sn; I Iiri8tlllllin Willies II .'(), piIUI)r.l.l,III.--r'all c ,,P rr t ,(me
cliecks M.li."; (opcnllllKeii rubles i; l,-. 0 t r rent, lominyrcial paper, ihrce to alx
i ,.. ,, .n . '..,... , ..- .., ,h . ol.r cent.
ciieeiiH i-n.iiii, inures iii. .Note- These are nrerely nominal
1 IIP ril
dny on
rent
1'ai.t Iluffalo. N. 1.
Hecelpts. Bun head
re.i ts, 83.) head. Slow
10 r.il
Hi HIS- ItrcMpt, 2100 head Steady
lliuvy 'nixed orkeis Mchi vorker, and
pp. V.) J.I. roujlii. S7'I7 2B. stags, tl.10
W . r,o
SIIUEI' AND I..Wtl'.1- ItP'. Iptt 111)
I., j I. .s'nw I, I ih s,-.'nu ,-,ii. (eir'liKH.
, u i ., .,'1 ewes, JI ( ,,11,
ti, tl 30113.
lift '4
no',
llOH
nn
Oils
nn h
nn
nn.
2 ... not
Wilson Co cv
1.. .. 78
1 ... 78
3 ... 78
Wilson Co lstl
2 . .. 8tt4
1 .... 83 14
1..
1..
NEW YORK BANK STATEMENT
Excess Reserve Reduced $20,438,
200 Loans and Deposits Contract
New Yorlt, .lunc 25. Actual condi
tion of tho CluiiriiiK House institutions
for the week shows they hold SUti.i'lOK,
,V.)0 reserve in cxi:p,s of losnl require
ments. This Ih ii decrease of .0,i:i,
200 from InRt week. Demiind deposits
show n oontrnction nf !?l(l,l.'ll),00() nnd
lnnns nnd discounts u reduction of SM.
JOU.OOO. On tho other hand, reserve
creillt at tho Kpclernl Kefierve llnuk de
crensed $20.!H).O0t).
Details follow :
ncv
3ic. .'ancy prints Jobbing at 4Ue4c; ftlr
to chnlPa, 38(4430.
EOOH Finn stock In sm.Ul sur4lr iM
firm. Quotations Neirby llrju J) He,
lurrent receipts, 30c, Western, extra, tnu
30'io. flrsts. 2'JB30r; seconds 23328c; l
fcrlor lot, lowor, fancy, selected ei Jc
blng at II nf 42c. fair to Bond at 3590c,
CIIKKHK Quiet and unchanged Quir
tlons: Now York, whole milk, flats. Inner,
frosh. 10yl7o, do. common to fair, friij.
146 loo; .onghorns, firsh lHW17c ilui
Daisies, fresh. 10W17c, Jobbing il(! ol
fancy goods IP 20c
UV1! l'OUl.TUV Thn quotitlons wmi
l'owls, fancy, fat, 33i'C,11c. medium, Iti
32e, spring chickens, broilers, not IrlWtl
good ciuullty. wplvhlns 211 J Cj lbs. aplecr. S)
if 12c. weUhlnx 1 Hi 1 , lbs anlecs. 311
U'c. spring chickens Leghorns welihlm l'i
cn2 lb,, apiece :i4u3flc smslUi size, fJJ
32. roosters. KUIlSc. I)u Us unite IU'4
22K2lc, do mlxd coloia .ny22e iiIiij,
tur p.ilr, old. 4B1'.inp, uiing 3.1910c 'I
niW:SKD rUl'LTUV I'ocl, freiWiW
dry-plckcd. In lioxes Igh.'ng 13! lla.
apli.ee, 31c. weighing .'l'i Ilu. 3Ut!c'.
w-nlghliiB 3 Ihs.. 2Mli30r lim's. fresh kllln.
In bblsv dry-picked ue'uhlnu 1(3! IK
apiece, dry-pneked 33r, wlunlnx 401 Ilu.
anleco. Ice-packed, 32c, weUhinf 3HJb'
2S02(lc, weiifhlns 3 lbs. and under. 2JC2JCI
Lrolllntc chic))' lis. western. 4J60c OJ.
nearby. BOMBilc, old roost, rs, dry-wcm
western. 43fB0c; do, do. soutnirn. 1W
duckllnrs, I.. I , 28c: do. nearlj. 2c.
Reserve Banks' Discount Ratei
Offlelnl rediscount rates at tro thtPi
eral llesone Hanks nro as tonows
Treas. Uli Com'l Brl
ctfs Ponds Taper. Accipt
Today's Range In Liberty Bonds
Hl'h I,ow
Liheily .'II28 ...87.M) S7.02
liberty 1st I'is. . 87. Ill S7.I10
Liberty 2d lMn..Wl.7H WI.IIS
Liberty d -1.. Ill .nil lll.-j-'
Libel tv Ith -l'is.. MJ.IIS M1.1K)
Vic Notes :t'l',s... IIS.IIS )',..'(i
Vic Notes 13, s... !IS. II) im.'iu
rioss
87.72
87.-10
Mi. 74
D1.22
Ml.flJ
i)s.a8
BUTTER, EGGS AND CHEESE
eiv iitU. Juno 2.1 IIFTTKIl Ilrin lie
....... I -. I. ,'1 .,1, I 'fl ,, w, . . !.!..!.. ..
, . "ij..". t, ,'...., .'n v , - ..,.. ., , winner lUim
I i .mis. .in "i .1 Vi. c vrtumeiy extras J2 si ..re
.1 1 ? i , oriaiii-'ry iiraH, m io in Kcurc al5fi
3li . pncklnn stock current muke. No "
ino
nvress reser.e,. .
Ai'irregat, reservo
I. onus, etc . . .
Cash In vault,
a u d number
bank, .
TtPsero In mem
ber lianlc, and
resnrvo banks. .
Iteservo In stt
banks and trust
CO,
Ilesere In state
banks and trust
i o depositories
Net demand de
posit. Time deposits . .
Slrculatlon . .
United SUatesde
posit, deducted
AvnnAnr:
This Week
130 081. 1 70
320 384, 0ni)
Iast 1'eek
511.48)7 H7i)
.38,;i8H,fHII)
4,Bsn,410,O0O 4,B38,B7B,000
78.7S1.000 7B,BSfl,nOO
303.103,000 302.n43.000
8 sot nno
8 377,000
3.n7,OBi.ono 3,
227. 27.1, nno
82.B2U 000
8,oi3,ono
8,in7 nno
7,in,nrti,noo
238,(1(10,(1(1(1
H2 I.'U.OUI)
112,312,000
Last week
4ii. snn. 7(K)
sis.inn.ooo M'j.im.nOu
2ii sn8,Bno
sis.inn.ooo
4, SnO. 023. 000 4,OO4,S18,O0O
76.814,000 75',283 000
407.no2.oon B24,ooi.noo
llocPipts, 1.-. 7(17 cases I-resh
., . i,y
i j,,,,,, iiiinna liii, Note- These are nrerely nmnlnal mint,.
lite of premium ill Montienl o- tlons, the lecal ralo of Inlnrest In the Htato
New York fuiidn wiih 1't&' n- of I'ennslvanla belnir lined .it n per ient.
rri. .... t ii J.',sJ)Pririus pwnluro and lomtnlsslnn. tlmo money
The rale of dlHcount in New f. r thlrt to n nety d, s oand at 7 to
iorK on uannaian itiniin today wan 12
per cent.
The Central Knroprnn exchnnses
were: iirceK, ii.u iiuiniiniim. .r,r,U,
llultinrinn, 1.J0: Austrian. .IS; I'olanil, BANK OLtAKllNOS
.Ofl-I'i ; CzPrho-Slovnkill, 1.,'iO'j: Jiil'O- Hank wr'm,s loiUv iijiiiniri.il with en
Siavla, .tlMj. 'h rtspondlns 'l;',,1"51 '"Vi"' mm
Yi:RTDni)AVS riNAI. Qt'DTATrnvo I i.h.i.L SI13 '127 2t
7H per cent, while commercial paper, from
thirty to ninety uays is loano.j at, 7 10 7V4
per cent.
BANK CLEARINGS
vurvruniJAVs final qcotation-s
i r'ln Franc, jj.. ,. ,i..
L'lr! I'1"! ' 3..h'
iu, .1 c.i-j pi mi 1 7'l ;il. nf
rODAY H il'i:NlN(l (Jl'ilTA'imNH
I. rams J.lr. ciullders
7 nu 4 S7C 911 01
o ,Tt c ,.n . a - -Jr.
n.in n ", M iij p(j
CIOSINQ QUOTATIONS
I fiterlln
n om , n ri 3 To'
CiWM ...... 8-TH 8.01
Demand
Demand
CiU.0,
Sterling
. . . 3 73VJ
Franc,
1 7.00
Urn Guilder,
4.M B2 82
i.00 82.03
1'hiiic
Host'.'l
N V
1 . , .
ChlcaKo
Hi 771 02(1
-,il 1 .jiKI dill)
, II 1 Is SIT
IIS U(l(l 000
'11.1(12
2IH 318
80 107 28!)
RAILROAD EARNINGS
CANADIAN PACIFIC
ThlroJ week June.
Jan, 1-June 21...
Decrease,
1021
... 13,271.00(1
... 77,801,000
Increase,
1804,000
7.010,000
I'llflH llrm
iruthi red Lxira iirsu. iriiwaic. ,in ,,ru.
23'a '28o, state, rcnnsyuaula und nearby
Western, hennery whites, nrst, to extras
Illllflilo; do, browns, extra,. 83W 5rtl4if c
do. Kiitliurtd browns and niUcd colors llrata
to I'XtruH. 25Mi032Wc.
CHKi:uil Arm. necelpt, o7a ,,
rilate, whole milk, flat, frch. special, 1314'
iflOVio; do, uoratci run, 14 IBVic:
.. .... ...Wn... .v. 111. ....In.. .. ,.. -u. 3'
niat
234,013.000
ACTIJAI
Thl, week
F-xces, resere
Acttreiiate ro,
Innng. etc.
Cash In vaulta
und mem bks.
ltesoro In mem
bnr bank, and
rtservo bank,
Iteservo In stata
banks and trust
companies .
Iteservo- In state
banks and trust
company deposi
tories Vol ilfiTianil de
posits -a.iui.i.s in. iiimi o, ;iii,nnn.iiiiu
rinm deposit, .. 220.768,000 23t,2nil.ll(lll
Circulation . . . 32,430 000 82.301. UOu
IT H. aepoin,
deducted 222. 311,000 213.151,000
8,838,000
s.snn.ooo
S. 720.000
8.00.1 000
Boston
N. w orlc
Philadelphia
' eve and ..
Hlchmond . .
Atlanta ...
1 hlciik'o ....
HI l.ouls . . .
.Minneapolis
Kansas City
Dallas
Ban Francisco
ft d
n (I
11 B'
il (I
0 II
(I c.
II (1
II 11
3i (1
n n
(i 11
ii 11
11 I
a II
(1 !,
0 5
11 1
iUl 1
11 H
1,4 ,
ct Vi
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0 .
"'. '.""' v .... . -- ..i- .. ,ih nicrw
-1) scouru raio 1 ,.1 n-p, .'"- , I llil.
rate borno by certificates ple.lse.lai coll"-
eral, wltn minimum ni .1 per n...
WILL WIRE
YOUR HOUSE
7 lloomit Swltcn in '
Phone day or "'"J". ..ij
Poplar 2103 JhtnJJ
UinsiL
$8
Kyle Brothers Co.
Tnr.Kfi BONDS
GRAIN
Weekly Grain Review Free on
Request
Boureau & Evans
Member. ( JJ'U
130 South 15th Street
ulillnilehlhia
fac 1111
Locust SI 82
inan
whoit) milk, twtna
ItiVc. do. uvoraao run
Hnrl.-Ift IK ti ra
H'4lBo. '
llntu
il
t"'.1 hept
I 11 .-. it
r.'j oct ,
".'I Hi t ,
1 ! ,
n pep
jii 11
Dato
u, , 1U21
U. 8. Certificates and Treasury Notes
lr,l Maturlnk'
Hid Asked Yield
inn.'. inn n.32 4 85
mil i-32 ion ;i a.-r. mi
'Hi's 100 7-32 4 IPS
nn 1 32 ioim Jr,.ot
Hi"', 1(1(1 7-32 B (13
mi A 100,', no;
inn iooa B.n-i
100'fc 100V ft 85
J2i inoA B 43
100 100(4 B.70
t'B'i
1(121.
, 1H21
1IU1
11121
11121
1022
1022.
t,"i'4 June, 1022.
t'3. Juna, 1024.
Kxemot from normal Fedmt inMn,.
tAccentabl for payment uf Incom, tax
due on data of maturity,
Financial Briefs
It la officially stated from lyindon that
011 200 In Bold were exported to America In
week ended Juna 22
The aerairo price of twenty actlvo Indu,.
trial stocks advanoed 0,84 per cent yesterday
to 00.20, while the twenty railroad, advanced
0.18 per cent, to (17 18.
Consolidated Cigars Defers Dividend
New York, June 25 Director, of the
Consolidated C'linr Corporation met and took
no nutlon on the common dividend iluu at
this tlm The ri'BUlnr iiuciierly dividend
ot 1 pur cent oil tho preferred slock was
decland payable (4optemhr 1, to holder, of
record Aurust IB, Tho compuny has been
paylirz $1 73 on the common quartorly
DIVIDENDS DECLARED
1 isesr torx iTarurnorttuion uo.. ou cents,
1 payable July IB to (took of rtoord July 1,
C7S. PATTON & CO.
HIfc A fill i a, "
HANKERS
wmsmL
llpnits
Members Phi
Ihx-SmbthIco.
iMirccTMrNT SFf.URlTlES
.."; .... u. Snrne. 6111
inim land line uiuk -r- .
i
1 ,u.nri E. Brown & Coj,
...V.rr. nniiiir ArcOUNTA"'
LUiiiri -. 'VYusi Wi
J00O HitAu -a',r, cnfuorolT,
UtiTtOTTBUUf HBMiu.-
TH juiurnp.
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