' 1.7 'Y "T 4nT; -f lf j EVENING PtJBLlO LaER-HlLXl)ELPtoX MOMi&AAi7W-,iSa.; ;-. m r ' -it- ,-' W J" W ML" ' "" Lfel 9 ! By m "i Li Is I ft '1 Elf K . t n ,1 k- H Onces In a Lifetime tlicro exist such opportuni ties as are offered today in the bonds of companies whose standing js of the highest. Selling at very low prices, many sound bonds return an unusually attractive yield to the investor. The opportunity will only exist during the period of reorganization due to the World War. Far , sighted investors are buying with thoughts for the future. We will be glad to make our recommendations to those interested. Elkins, Morris & Co. Land Title Bldg., Phila. New Tork A Members Phil Stock Exchanges RAILS STRONG, BUT. OILS BREAK BAOLY Proposod Import Tax on Crudo Petroleum Hit Mexican Shares Hard jumnromruno txtjuuuuuu w PROFITABLE INVESTMENT E SHALL be clad to assist in the care ful selection of conservative secu rities to meet your particular needs. Kindly fuk for Circular K'lS CASSATT V CO. COMMERCIAL TRUST BLDG. PHILADELPHIA Niwvon BAUiMO"e-pftTS!Hoa-9eANni 8 Seconds The Keystone Telephone Company's automatic equip ment makes it possible for subscribers to connect with each other in eight seconds. To finance the installation of this equipment the Company issued 6 Equipment Trust Certificates , Due November 1, 1929 Which we are selling at a price to yield 7.60 on the invest ment. Tax Free in Pennsylvania HARPER &TURNEH Investment Bankers timbers of rMladtlpMa Stock Btehano Stock Exchange Building geronCo Philadelphia Keodiafl New York, .Tune 30. Tho lino of cleavnpe between the rnllroad and in dustrial divisions wok definitely drnwn in today's stock market. 1'xonounred fctreiiKth was dNplaved by tbp former, while nnitc wenkness of the oils, par ticularly the foreign companies, was the putt.tnnding feature of the industrials The Meel and equipments hures were also noticeably lioavv and a number of hpccialties were conspicuously noft. I'ntiptt lenient of the oil stocks of those companies having properties outside of the boundaries of the United States was tho outcome of the nervousness created by the proposed income tax of 35 cents a barrel on crude oil. which is a part of the new tariff Mil Hits makes virtu- i ally a double embargo npnlnst operations or tiie Mexican oil neius, and unless tho administrative reprtsentativcs of both countries recede In their position virtually threatens to bring the produc tion of Tampico fields to an abrupt end, or divert the production to European ports. Upon cjoser analysis, however, the hardest part of the sting of the new , provision is removed in toe free admit I tance of pnollne from the same fields. I Xntiirnllv the Mpxli-nn oils suffered - j the brunt of ttie selling movement, with u? Mexican I'ctroleum dropping 1"' J points to par (1(H)). or 3 points below the low record made n little over a week ago. Pan -American, holding control of j Mexican I'ctroleum. declined 0 points, i with nearly 7 twvints in General As ' phnlt. Atlnntlc Gulf and West Indies also suffered because of Its oil proper ties falling 3th points. A curious part ' of the wide-open smash in the foreign I oil was that the domestic stocks were J not benefitted bv the proposed heavy J import tax. notwithstanding it was i strongly in favor of the home compa nies. Iteiterated rumors of another reduc tion Jn steel prices, with a further cut ' in wnses. accounted for the hcnlnes of the stcls. resulting in the raucclla i tion of most of the improvement -cored by that group in the previous .sessions The equipments weio sjiupu I thrtically affected, but this class was ulvetselj affected more benuse of the intimations of the stock being frcch -upplied by certain interrst who up '.tit il recentU was prominent in pool maneuvers. The entire industrial group, 1 however, provrd more or los nen-itUf. l pocialties comprising the sugar, rubber, tobacco, merehondisins and motion -i picture issues, all were still vulnerable, I end during the morning forfeited I to 'J nnlnlQ In thn mnnntiniA rftll mnnnv 3! was less plentiful. wib the renewal rat I beinc fixed at 0 per cent. i In the face of the strong renctisnarv urrentf the rails maintained a strong front all along the line, especially Heading. Southern Pacific and New York Central. The lower pri-ed issues were well supported and scored propor tionate gains. l3 PENNSY A STRONG LOCAL FEATURE U. G. I. Also Was Notably Firnu With Quarterly Dividend Off NEW YORK STOCK EXCHANGE TRANSACTIONS 12 80 s 6 7 to Dlv. Bales In t too 300 400 300 .100 .190 .1)0 000 400 100 too 1300 300 S00 300 100 1700 0500 4500 700 noo 300 .1700 1100 600 100 700 too 8700 10700 8 ion 109 : too too too 200 aoo 300 100 coo too .190 AOO noo 200 200 4600 2300 3.10 3300 3400 600 14000 200 100 MO 100 100 600 100 700 2000 300 200 800 100 300 2? loo 1200 0400 : 17000 30) 600 000 200 100 100 too AOO 1700 1000 1200 300 8600 100 100 300 40700 300 E10600 100 100 2C0O 200 High . lK . K . 31H . 38t,i . 87 "' Spruce 8200 WE RECOMMEND Exchange of VICTORY NOTES for 2nd Liberty 4y4's at present market prices FECCHITIES DEPARTMENT CommercialTrust Company Member Federal Rnrrxi- dynrm City Hall Square Weil The strength of Pennsylvania Itail rond was the mot encouraging develop ment in th local market both from an investment and speculative viewpoint While the movement was largely in svmpatbj with the hardening of nil the rail shares on the big board, the wide advance of over a point in this usually slow-moving issue was believed to have more or less significance In con nection with the next dividend pay ment For some few days vague hints had been nude Intimating the possibility of the board postponing action on the divi dend until later In the summer, follow ing the precedent bet by the "Pan handle" directors. While the dividend meeting is not scheduled until th fmirtb Wednesday of the month. It has ieretofore been the custom for the board to meet on the first Monday so as not ti. nterfcre with the vacation arrange ients of the directors As the wagc "duetion and other diangva ordered b l-" Railroad Labor H ord do not go into effect until tomorrow, ther' is evei,, ' k.dihood of the board deferring divi dend consideration until the regular period to await the outcome of these clmugcs. It is understood a majority of the board have already expressed a w'lingiiess to forego vacations in view of the Interesting situation. Selling ex -dividend of fiO cents share, 1 G. I was notably btrong at 34, epresentlng a net gain of '; point. There was considerable stock to change 'lands, with the bulk of it taken at e above figure In the other local shares for the irst thr'V hours d tilings were per 'unofor and price movement riiite lr ocular Klectric Storage Rutfry lost 1 . point of yestcrdov's ! point gain. Philadelphia Klectric issues remained l rm Onlv a few shares of Lehigh x'nllev and Lehigh Navigation were leslt in West Jersey and Seashore ai's firmer at 2 400 100 4 100 .. 100 .. 700 1 300O 60 200 1 300 700 7 100 fl 800 2SO0 1600 1300 3500 1400 4 200 8 200 200 300 Advance rtumely . . , Alaska Gold Mines. . . AJlls-Chnlmcrs Am Agrlo Chtm Allied Chetn & Dy.. Allied Chem A Dye pf Am Beet Sugar. .... im uan : Am Car & Fdy 133 Am Cotton Oil 18 Am Hide. &. Leather.. 10ti Am Intemat Corp.... 4U Am Linseed 3S'i Am Ixicomotlve So Am Ship & Com f Am Smelt A nf 3H Am Steel Foundries... 2014 Am Sugar Iter 7 Am Sumatra 4l Am Tol A Tel 102?fc Am Tobacco 11814 Am Tobacco n 117! Am Woolen 94 Anaconda Copper .... 374 Atch Top A Santa F. flOM Atch Top A S Ppf 70 Atlantic Coast Line.. tl7 Atlantic Fruit H Atl Gulf A W I S S.. 24H Baldwin Locomotive. 7i Baltimore A Ohio... . 3H Barnsdale Class B . . . . 1 4 i Bethlehem Steel 45 Bethlehem Steel B. .. 47i Bethlehem Steel 7.. 90 Booth Fisheries 4'-4 Brlclyn Tlapld Transit 10 Burns Bros 85ft Buttcrick 33H Caddo Central OAR. 11 fl California Packing .. 5J California Petroleum . 3U t Cal Zinc A Lead H 10 Canadian Pacific 1004 .. Central leather 34 ft Central Leather pf . . . 71 Cerro ile Pasco ' 6 Chandler Motors .... 3't . . Chfsapenke A Ohio . 3'j . . Chi A n 111 ct 1st as pd &V .. Chicago Mil A St V . 20 ?4 . . Chicago Mil A St P pf 40 8 Chicago Northwestern 84 1? .. Chi R I A Pao Jl Chi R I A Pac 6 pf. 63 7 Chi R I A Pac 7S pf. 71 14 . . Chlno Copper 23V4 .. Clev Cln Chi A St L.. 37.14 .. Coca-Cola 20 ? .. Col A Southern . ... 3H 4 Col & SO 2d pf 40 0 Colum Gas A Klec.... 6K$i .. Col Graphophono .... Si 7 Co Graphophone pf . . 21 .. Consolidated Cigar . 25 'i .. consolidated DIs Ins.. 0 7 Consolidated Gas .... 85 .. Consolidated Textile. 1614 . Continental Candy ... 1 4 Com Products Ref.... 06? 80 Cosden A Co 37 ft 4 Crucible Steel 69H t Cuban Am Sugar.... 14 .. Cuban Cano Sugar... . ti Cuban Cone Sugar pf 2SJi 10 rl Lack A Western. .180 . Denver A Rio Grande V4 Pome Mines 17 P-uluth So S A At 3 Elk Horn Coal 174 Endlcott-Johnson .... 584 Erla 12ft Erie 1st pf 1 Erie !d pf 13J Famous Players L. . . . 58 M Famous Players L pf . 80 Fisher Body 7 Flsk Rubber 12H General Asphalt 834 General Electric 128 General Motors 114 Gen Motors deb 6 . .. 03 Goodrich B F 20ft Great Northern pf . . . 684 Gt North Oro ctfs. ... 37 Gulf State Steel S3 H Haskell A Barker Car. 31i Homestake Mining ... 55 Houston Oil 4U Hupp Motor Car 12 Indlahoma Ref 34 Illinois Central 00 1 fl 8 10 Inter clon Corp pf.... lft Int Harvester new. . .. 81 Int Mer Marino pf . . . 47V4 International Nickel.. 14 U International Paper .. 54 Invincible Oil Corp... lift Island OH 3ft Kansas City Southern 20ft Kelly-Springfield Tire. 38 Kelly-Spg Tire 8 pf. 78ft Kennecott Conner ...1184 Keystone TAR 10HSBH Lackawanna Steel ... 38ft 37ft Low 13ft ft 31ft 37ft 374 804 28K 26 ft 123 17 ft 10ft 33ft 33 ft 70 7H 35 26 71 834 1034 117 ft 117ft 07 ft 36 ft 80 76 35 8ft 31ft 68 3 144 454 46ft 90 4ft 10ft 844 33H It 554 30ft ft 107 34 71 "ft i0, 814 25 ft 3B 62 4 304 63 71ft 73, 37 ft 20 ( 35 ft 40 55 ft 4H 30 ft 25 54 85 4 16ft 1 C8ft 26S 57 14ft 0ft 25 1784 ft 17 H 17 h7 13ft 17ft 13ft 54 80 75 12 48 ft 127ft 10ft 03 20ft 05H SI 32 ft r3ft 55 54 ft 12 2 90 lift SOft 47 ft 13ft 81ft "ft 2ft 25 30 ft 7Sft 18ft 1:30 Net Close Che. 13ft H ft .. 31J4 ft 37ft ft 374- H 87 4- ft 2BK- H 2 ft- ft 13 ft- ft 18 H 10ft 4- ft S3ft- 1 23ft 4- ft 80 - t 'H4- ft S84- 4 36 - 71 - 34 834- 1 1034- ft 118 - 1 117ft- ft 07ft- 3ft 30ft- ft 8044- 1ft 76 4- ft 88 8ft- ft 32-3 ft- 14 38ft 4- 4 144 .. 454 47 - 4 90 4ft 10ft- ft 8434 . 33H H 11 - ft 854 4- ft 30ft 4. aj ft H4 4 ft 34ft- ft 71 35 H- ft 81ft- 2ft 83 ft-!- 1ft 8ft4-ft 38S4- 1 SOft 4- ft 64ft 1 314 f 1ft 63 4- ft 71ft- ft 23 ft - ft 37 ft 4- 3 ft 204 - ft 3644- 1 40 4- 3 85 ft - ft - ft 31 4- ft I 35 - 1 I 0 ft I 884- 1 ' 10ft- 1ft , 1 - ft 65ft- 1ft 27ft- ft 57 - 1ft "ft- H , ft- ft' 28 - 1 ft 180 4- 34 ft - ft 17 - ft V - ft 17T4 4- i 874- ft 1244- ft 19 - ft lft ft 55 - 3ft 80 75 - ft 13S4- ft 49ft- 44 127ft- 4 11 - 63 ft 30ft- ft 08 4- 2 27 32ft- 1ft 83 ft 4- 1 88 04 ft 4- 1ft 13 3ft- ft 00 4- ft nft4- ft 80ft- 1ft 7ft- ft 14 81ft- 3 lift 4- ft 2ft- H 25J44- ft 36ft- 1 7Sft- ft 184 10ft .. 37ft- 1 8Mt 300 400 3 lino 450 100 1100 100 400 100 100 300 100 A3S00 600 8500 1 200 600 200 3000 131)0 000 100 100 too 200 100 1700 6101) too 400 500 7200 too 200 200 200 9400 30300 6500 4200 1400 800 3100 100 300 3400 200 1300 10O 1800 460 100 200 1010 3500 100 100 8100 ;r.i ion too 3200 7300 8 1100 1200 400 100 7000 400 300 7300 81OO 3200 1030 400 340 200 28500 .IIO 300 A100 1500 1800 400 1003 500 130) J00 .100 100 3 500 1300 700 1000 600 8100 '20300 300 1300 200 1000 ' 1200 100 AOO 300 200 100 700 200 000 200 , 700 I 100 200 100 Dlv. n Llnh 2 Lee Rubber Tire 37 J 30 Lohlgh Valloy 80ft Loewe Co 10ft Loft Candy Lorlllard Tobacco ... 145ft Louisville A NashvlllellOft Market St Ry pr pf . . . 38 Marland Oil 14 Maxwell Motor A..,. 43 Maxwell Class TJ 10 Maxwell Motor 1st pf. 4 Mav Dept Stores 84 Mexican Petroleum . . lOsft Miami Copper 20ft 00 Middle States Corp... lift . . Mldvale Steel 234 .. Minn A St Loul 13 . . Mo Kansas A Texas.. 3ft .. Missouri Pacific 30 .. Missouri Paclfto pf . . . 39ft , . Montgomery Ward ... 17ft .. National Acms 184 6 Nat Enam A Stamp. . 43ft . . Nat R R of Max 2d pf 4 NO Tex A Mex 83U N T Air Brake 87ft 1 11 7 8 It 3 New York Central.... 70 New York N H A II . 18ft New York Ont A W.. 18ft N Y Shipbuilding. ... 37 Norfolk A Western... 95 Northern Pacific .... 704 Nova Scotia SAC. . 33 Okla Prod A Ref 3 Paclflc Devcl Corp. .. . 10 Paclflc Gas A Elec. ... 83 Pacific Oil 38ft Pan-Amer Totrol .... 47 Pan-Amor B 41 Pcnnsjlvanla R R. . . . 35 Penn Seaboard Steel. . 8ft Peoples Gas Chicago. . 50ft Pcro Marquetto Iftft Pere Marquette pf . . . . 40ft Phillips Pet 18 Plerce-Arrow Motor .. 1 Pierce-Arrow pf 39ft Pierce Oil Hft Plcrco Oil pf 63 Pittsburgh A W Va. . . 37ft Pitts Coal 5 Pond Creek Coal 13ft Pressed Steel Car.... 67i Punta Alegro Sugar. . 284 Pure Oil 27ft Railway Steel Spring. 78 Ray Con Copper 12 ft Reading 67 Reading 1st pf 39 Rending 2d pf 40 Repub Iron A Steel... 47 Royal rmtch N Y . 84 ft St Louis San Fran... 33ft St Louis Southwest.. 24 St Louis Southwest pf 33ft Baxon Motor 4 Sears-Roebuck . ...f. . 00 Seneca Cop Corp 15 Shell Transport 41ft . . Sinclair Oil 30ft Southern Paclflc 73ft . . Southern Rail !9ft . . Southern Rwy pf 48 7 Stand Oil of N J pf.. 106ft . . Slromborg Cnrb 34 1 Submarine Boat Corp. 64 7 Studobaker 77ft Superior OH Corp 4ft . . Tenn Cop A Chem.... 74 3 Texas Co 334 . TexaB A Pacific 24 ft 1 Texas A Pao C A O. . . 20ft 6 Tobacco Products .... 63ft . . Trans Con OH 8 . . Union Oil lot 10 Union Pacific 116 ft 4 Union Pacific pf 63ft 8 United Drug 84 BO United Drug 1st pf... 39 8 United Fruit 105ft 3 United Retail Stores.. 83ft ..US Food Products... 17ft .. U S Ind Alcohol 63ft ..US Realty A Imp... 48J, 8 U S Rubber 63 BUS Steel 74ft . Utah Copper 48ft . . Vanadium Corp 20 . . Vlvaudou Ino 7 . . Wabash 8 .. Wabash pf A 51ft . . Wnbash pf B 14 . . Western Maryland 10 Western Pacific 25 ft 4 Wtstinghoube E A M. 4Sft 7 Western Union Tel ... 87 .. Wheeling ALE 8ft . . Wheeling A L E pf . . . 16ft 4 White Motor 33 .. White oil Corp Sft . Willy-Overland 7ft 5 Wilson A Co 34 A Worthington Pump .. 42ft .. Wright Aero. Corp... 7ft 8 8 1 8 4 8 4 2 2 20 74 LOW 37 40ft 10ft ft 148ft 109 35 134 43 10 3ft 84 100 oft 104 33ft lift 3ft 20 38 1ft 154 43ft 4 A3 87ft CSft 17ft 18ft 37 04 8 ft 33 I ft ft 63 34 ft 43 38 33 ft 74 40ft 19 40ft 17ft 18 30 74 03 36ft 66 13ft 67 28 ft 20 ft 78 13 ft 664 39 40 46 63 ft 23 23ft 33 ft 4 04 ft 15 ft 19 ft 734 18 ft 44 106 ft 31ft 84 76 ft 4ft 74 33 23 10ft 63ft 8 18ft 115ft 03 JlSft 39 108 62 ft 10ft 62 ft 47ft 81ft 73 ft 48 28 ft 7 74 20ft 14 9ft 244 43ft 87 84 16 31ft 8ft 7 34 42 ft 7ft Net Chs. 1:30 Last 37 80ft Sft 10ft fl 148ft- ft 109ft4- It 85 4- ft 13ft- ft 43 10 sft- U 83 - 3ft 103ft-30ft-104-3ft-13 4- 3ft i0ft -164 43ft 4- 4 8314 4 87ft 4- 69 ft 4 174 18ft 37 4 95 70 4 33 3 9ft- 9ft ft H ft 4 "ft ft ft 1 '3ft 1ft 4 IK 4 3ft 1 ft ft 53 4-TTft 34ft- ft 43ft- Sft 38ft- Sft 34 ft 4- 1ft 74- ft Soft .. 19ft 4- ft 40ft 4- ft 18 4- ft 18ft- ft 30-1 8 - ft 63-3 37 ft 56 - ft 13ft 4- 1ft 67. 4- ft 38ft . 27 4- ft 78-1 13ft .. 07 ft 4- ft 39 4- ft 40 4- 1ft 40-34 63ftKJ 1ft 2344. 34 2 4- ft 33ft 4- 3 4 64ft- Sft 16 - ft 41ft- ft 19ft- ft 73 ft 4- 4 194 4-Hfi "Jb4- ft 10Bft4- ft 31ft- 34 04 4- ft 76ft- 1ft 4- ft 744- ft 33ft- ft 23ft 4- ft 19ft- ft 63ft - ft fi - ft 18ft- ft 11844- 1ft 63 1 83ft- ft 39 - 3ft 106 - 1 534- 1ft 17 - ft 53-34 7ft - ft 83ft- 1 73ft- 1ft 48 28ft- t 7 8 4- ft 31 J ft " 4 94- ft 28ft ft 43ft 4- ft 87 4- 1 84- ft 16ft4- ft 33 4- ft 8ft- ft 7 ft 4- ft 34 1 3ft4- ft 7ft- ft Commodity Markets COTTON MARKET New York, June "0 Poor cables, with selling by Liverpool, Japanese and New Orleans Interests, caused an easier opening in cotton this morning, first prices being 8 to 11 points lower. There also was considerable commission house FOREIGN EXCHANGE New York, June 30. The weakness which developed in the foreign exchange market late yesterday was again in evi dence this morninz, rntcs on European centers opening fractionally downwaid. The Scandinavians, however, were steady. The quotations follow : Sterling cables 8.73Vi. demand 3 72l,. ; franc cablcn 8.10, checks 7.00: Belgian cables 7 HOW. checks i.H.j'j lelling ahead of tomorrow's Govern ment report, part of which was absorbed lire cables l.SR, checks 4 b'Vj i Swiss h. Wnii Street houses. Ear weather caoies in .. rnecKs iufj-': peseta ca- adviees were favorable, Including re- of further rains in the Eastern porta States. , ... The receipts at tho ports tor the day nre estimated at 20,000 bales,, against 14,024 bales a week ago, 4044 bales 11 18.HU oaics two yiurr Philadelphia Markets nn'S?IBATn.ecalpU' 48.805 buehel. Trad. J.i-' . an.J prlc" a lower. Car lota in xport elevaloi- No. 2 red vln.r it zntn No. 2 red winter, carllckv. si.iaai.?s 1 40. uiner eradas quoted at the following ashed uin or aiacounia: Mixed wheat Oo undni red winter No. 3 wheat 3o under No. 2 No, 4 wheat To under No. 2. No. B wheat quallt " '' 8ample aeoordln to ronN Rwelpta, firm, Car lota in (21173c. No, 3 year ago. ago and Julv October . . lipcember JntiuajV Marh Teat. eloae , . 11 SS .. 12 32 .. 12 sn iaoi is JJ day'a 1 open P. M. 1 f W 13 20 12 17 12 Tl 12 S3 1.' Mi IS 12 13.03 bles 13.0-', checks 13.00 ; guilder cables 1 32.90. checks 32 91; Stockholm cables 22.20. checks 22.10; ChriMiaiiia cables 14.3.r, checks 14.30; Copenhagen tables 10 90. checks 10.8T., marks 1.82M, I The rate of premium on New York I funds in Montreal was 13 per cent. I The rate of discount in New York on 1 Canadian funds today was 12 3-10 per ' cent. I ( 'entral European exchanges wire I weak There was a further decline in MJieck to ! SO ; Humanian was l,r2; Hnlgarion, 1 10: Austrian, 1R; Polish,' 802A buahela. Market eZDOrt elA At nr TJi ? 7071e n?T9T:?"lpt,, 1-S60 hu.hela. Trad, qu t Trlcen alcady. Lar lota aa to lo- "li lolTNo- - uhl,e- JOGfWe. No. 8 white, 4uli Zinc, JTarket dull and unaettlixl Quotations. Soft, winter ntralcht. Weatern. 10 757. do !f.0' . J.'ViJ0;45870' h"d winter, straight 18,0097 -10! do, ahort ratent. 17.40 07 bO, aprlnsr flrat, clear, 1607. do. patent. I7.75W8 25; do, ahort patent. 18. 2B H.75. fancy aprln and city mllla, patent, family uranda, 10(38,00, ny Hour, 180 GRAIN Chicago. June IV started l4;C off J Philadelphia Stocks R. E. Lewis & Co. STOCKS BONDS Foreign Exchange Wall Street Review Sent on Request Direct Private Wire tion With Principal Connec-Market 702 Finance Building Philadelphia Telephone 20 nrood HI. New lark -Sjiruee 8317 Kxchnnae nirte. Reiidlnc. I'a. HiKh ." Am Str- ."7,5 L'OAni Sum Tob .134 !m KleeStor 10 ', 4Sl5 .14 1 I.OW .',71., r.3-i. 101 c R (i2. 48C 337 15 II -.71. .-3. 101 'a 7 Net ehse 4- a. 1. - Sn sou ro IWI Kov Tel 2 I.eh Nnv 2 T.oh Val. 120 Pa R R 20 Phila Ins Wire 10 Phila Co cum pf. 40 Philu Ie .'(."iIteoding. lOOtStudebkr U) I'n Trac 113I1T (i I . .15 West Jer & S . N ' hnt- rradn t rnmuarlanri with laet sale on New Tnrl ''tork Rxrhnnge Ei dividend toda- U O I no rente 31U 21 4 77 30 34 31', 2H', njp4 77 "0 l o .137; n 1 3ia$ l 31 U.. 21 i.. Vi 30 34 4 K MARKET 30. Wheat Inirnr for .Tnlv and M c to for September with reported rains in the Canadian Northwest starting heat ttred telling. Demand was lacking and the market sagged easily. Receipts in spected yesterdaj were 39 cars; lat yenr 18 cart. The cash market was relatively firm with premiums un changed to lc higher. Most of the ar rivals are coming on contracts and going through to Huffalo. leaving sup plies available In tho open market very '''nr , , , Weather reportH show a few light scattered showers in the Northwest jfsterdn Conditions oer the South west and the Wi-t are more settled and the movement is expected to Increase uith nrosnects of liberal arrivals at all terminals by next Tuesday. Trnde is l3 likelj to be restricted because of the approaching holidays. t'oru started c to lljC lower for .July; c higher to lc off for Septem lj ' ber. with scattered selling encouraged 's b the report that grain elevator work er had refused to arbitruto their claims L3 'and would go on strike tomorrow. I fiats started c to c lower for Jul and unchanged to ,,o off for Sep tmber. Turther losses were sustained later on selling, encouraged by the weaknes, m other gruins. STOCKS BONDS GRAIN Weekly Grain Review Free on Request Boureau & Evans llembtra J Ih,Ia 8ti-', Kxchansa u,m Chlcaeo Hoard of Trad 130 South 15th Street Philadelphia locust BIS'J Race 1781 riUIDKI.riUA IIOMIS 10n Atlantic Rf i3s . . . 100 2irf0 Hell Telephone 7 .. 103V, 1000 Klectric & People's Js. . fi.'i!.. .100 Electric & People's 4s. 7, ."(iii'i Pennsylvania fls .. . i7'i IWKK) Philadelphia Elec 1st .Is . Mlj BANK CLEARINGS Pink rirannea today compared with eor- reapundlng la laet two veari 11)21 . 10;,' lain Ililla . 0 70(1 0R7 90 104 40B S3 200,702 llostnn 44 51 MS M 1SS 4M 7S 3S M N Yk 81S 400 000 1 077 L'03 rtl7 007 H'.I2 012 Jamaica to Float 400,000 Loan I nhllilnn. lune 30 t'nltnl Stair ( on ul Heard at Klnion Jamaica, line nl.leit I ih Tepartment nt Commerce thai i loan ot ' (400 00O la proposed bv the loiernnint of Jamaica in order in prevent thn mllnpae of . the auvar lnduairi The propnaal for loanx to i" placed t S prr rent 'liroush epecialU i reatkd hoard Ihe G'jiernm.p' borrowing at 7 per cent from the local banke r-pavmen' I tn the (lovernment to b accureij by tlrat ' lien un property NEW YORK COFFEE MARKET New York. June 30 The local coffee futures market opened dull and un changed this morning lth no tranac tlons on the call Owing to the holi day in Brazil, there were no official eableti received and the lornl trade was In the dark as to developments in the the primary markets Special advices are expected later in the do Priceti steadied toward nuddaj nod brokers w th n few buying ordeis had to bid up the niarkft 3 to 0 points in older lo execute their orders, September wiling to (1 34, December to 0.7.1 and March to 7 00 Then prices worked off a couple of points or so. trading. .ocvcr, beini; more or lesi neglected. the market lacking nap etl I ( e it :iflso .1 7 1 fl7. . 7 03 fl OS ., . 7 2CHU21 S-pinnhr Dm . mber Mnr' h Ma Uld Open fl 20 n 71'frsn 7 fHOlO 7,18 Slavia, .08 TESTEniJATS FINAL. QUOTATIONS Sterllnr FVanm t.lrA r.mlrl... Den.and . . 8.74'? h 01 4. SO 32.80 UUUIC9 . OI1-H UJ 1HI 3 TODAT"S OrENINO QUOTATIONS Demand Lablea Demand Cablea 82 ni 32.00 . 3 72 4 7 00 4 hi 3 73 S.OO 4 H NOON QUOTATIONS W W" 4LSr7" 0U'15fl" 3 72N. 7 0S I S7'4 rnOVISIONS- Steady The quotatlona Beef in aeta, amoked and alr-drled, file, beef knui klea anJ tendera, amoked ami alr-drle.1 t2 poik. family. 48c: hams. H. P. cured, lore 2SS27c, aklnned looae, 23W27c. do dn smoked. 27020c; hame boiled, boncloa ti picnic shouldera B P cured, looae, l.V du emoked 10c. bellies. In plclile loose, 10c breakfriat bacon, 22c. lard lOWc. M.'1TUJl Fairly active and firm Quo tatlona Holld-packed, creamery hUh-ocor-Ine Roods 37HOS3HC BMrn anWc. extra. 0o inren 4W3V;. nrata 3Itf34c. otconda .'uoi;' aeei creamery noice to rancy 3S'(fin9i fair to good, 314 0874c. fancy prints jobblne at 4750i, fulr to choice 311 4V RECESSIONS MARK TRADING ON CURB Wido Fluctuations in Cities Sorvlco 188U08; Littlo Chango in Industrials New York, June 80.. The curb market continued of a receding char acter, nearly everything traded In be ing ln supply at concessions and find ing only a limited demand. Cities Service common awning over a wide range, dropping during the forenoon from 124 to 121. The Bankers' shares were traded ln from 18& to 12. International Petroleum was specially influenced by the proposed Import duty pn crude oil nnd waa offered in fairly large volume, falling from 13Vi to 12H-. Maracaibo was supported nnd. after ylelfUnB from 23 to 23, rallied to 23U. Anglo -American Oil, on small transactions, ranged from 17 to 10. A small amount of Atlantic Lobos sold at 15. Ollllland Oil was fairly steady, after it dccllno following tho an nouncement of a receivership, and Bold today at 2 and 2U,. Ilyan Con solidatcd yielded to the new low rec ord of 494. Slmins Petroleum was steady, eclling ot 6 and 0. lhere was littlo change in the mar ket position of the Industrial group, those stocks generally being unchanged from recently prevailing prices. Clevc lnn9 Auto was In supply, dropping to JoVj. and sales of Goodyear Tire preferred wero made at 21. New Jersey Zinc sold at 114. filcn Aldcn Coal was traded on a fairly large scale, ranging from 30 to 351-. Bwecta Co. of America was firm, sell ing at 34. There was a moderate amount of business in United Retail Candy at 0. rNDCSTBlAlS Car Lla-ht . . . . Cl"eland Auto . Kmplrj K-od Glen Aldn CoaJ Goodyear Tire . , neyaen unern Hush IS . 20 .. m'i .. 30 .. 21 N J Zlno 1.. 114 Radio Com pref 2 Sweets Co at U S Bhlo Corn 20 United Profit Sharm . . 1A, United Kot Candy u 8TANDAIID OrLS Anrlo-Am Oil '17 Atlantic Lobos u Low 25(t lli'i 3Ai 31 114 3 ;o 11.00 A M 14 :r.4 iy ! s? 114 3 J',l io it in INDEPENDENT OH 'Si? U. S. Certificates and Treasury Notes Int Hate fl 1'4 tl .n 5'j .Vnturltj Date AUK 1V2I Sept, 1021 Fept. 10.' 1 (let 10JI (lit 1021 De' . 1IP21 --b 1 '.22 Mar. 122 June ll"J2 June 1024 Exempt from tax. t Acceptable for pavment due on ate of maturity. vr.H V14 iiid lOilcV 100 1-3: 1004 100 1.3: 1004 MMIf, 100 101, 100 100 normal A?ked Yield 101) fl-32 4 SO mo a .12 4 os 1"H 7-32 I OR 1(104 3 03 100 7-32 n Ol) leo, ', i in 100r, S3( 1004 lOOc. ion'! ft in 1 .1.4-1 Fedetal Income, of Income tax Reserve Banks' Discount Rates Official rediscount rates nt th twelve Fed eral neierxe IJanka ari aa follows Trea I. ib i'om'1 Tlkrj etfn Donna lJaper Acept 1'oeton New Tork PhiladolrhU Cleveland .. R . hmond . Atlanta Chics no . Pt tiuu MlnneapolH Knjs City Dnl 0 0 I 1) (1 tl il (1 ft' 0 '.1 0 n 4 a n n 0 a 6 4 0 fl fl ll.1f. Har Francuro Dlaenunt rate rorrcarondf with Inierem rale borne b- certifi(.atea plfdsed aa coll il eral. lih minimum of fl per cent. Liverpool Cotton I.lrerpool, June 30 - Spot cotton wn 'iuiet io- with irbea eaaler on the bet of derllne of 1 po n' for mlddllni; at 7 .'"d The sales were 30OO tal-a The reealrta ere 100O Imlea. all American Future" re (lulei in tho nrlv dealln Spot prlcof were American middling fair 10 ISd, good mid dllna s 2M. fully mlddllni; 7 Kftd mldd hik 7 23d, low mlddl'nif fl .'3d good ordinary &d and ordinary 4 25d French Bank Statement I'arla, Juno 30 The weekly atatement of the Hank of France ehona the follow inir chungea Oold In hand In.'reaaed 274 0"0 frann allver In hand lnrre.iaed 23d. 000 francs notea In circulation ilemaaed 71 117(1.000 franca Ireaaury depoalla In creaaed 47 fiin Ooo francs eenernl depoalta Increased 140 U7O.U00 franc, bills discounted Increased 4Itl,07o 000 francs. I-.fiOS Firm Quolatlrna Nearby e-xtra flrria 314- do tlrsts, 31c Western, txtra. fliata 3I4c, frets. 306 31c aeconda 23tf J''.. Inferior lo'a lower, fanci. selected ecga Jolibini: at 41W42C, fair to eocxl at 3340c CHKEHE Firm. Quotatlona: New York. whnl. milk, flrata, fanc. fresh lflHc do rommon to fair, frteh, IKSlfic, Ixnghorna fi-ah lfl17c alnglo Dalalea freah, IB 17e, Jobbing suits of fancy goods, liiW.'Oc I'dfATOLS White potatoes per bbl. S'u'hern. No 1. 12 2S1J3 10 No 2 and r.Jlla lltfl 75. I.IVB I'HULTRY The quotations were Fowls, farty rat 34 8 86c medium. 81 0 .13c, aprlne chickens. brnller. nut I.ehgnrna koivI qualit,. welghlnaj 2S24 lbs apiece, Ba Wftlc el;hlng 114 lbs apiece, 86 4 aprlnic chickene l.uhorns weighing' 3i)n34' roosters in?.H'- Hip kn n ' quality 17020c, pigeons, rer pair old 153 fi'e yi.unx 3!ity4Ur DltKHUCD I'Ol'l.TRT Fowl freah killetl. drv ricked In 1xes weighing 4tfl lbs. anl'c 8fle welEhlng 34 lbs 3335r weighing 3 lbs 30T32o, (owls, freah-kllled In bbls dr -picked (lKhlrg Iff ft lbs aulece drj-pl"ked 3ftc weUihlng 48 lbs . ipw .i packed. .'Iftr, welch ng 4Cfft ll 2.W2S-- welKhlnK 3 lbs and under 2fi5J2Bc broiling chickens Weatern 4Biftic, dn rarb BOWSflc old rr.jter drj-pleked Western 10e do do Southern IflfMUc dui'kllnjia, I, I . JSc do. nearby, 27c. LIVESTOCK QUOTATIONS rittetiurgli. lun' 30 Hufjh Reeeinia SOcn head ftead Heaiies flOOTIi hey .'.rketa llsl t orkrs ple. IM 't',l 0 r.O f'nHes recclpta 223 head Pti.i), Top 110 AhUF.F AND I.AM1IB Receipts f,(lrt b r,. !ltdy Tp shtep J.'i "i0 top Idinh' 110 00 higher. IVist IIuHbIo. N . June 3H CATTI.K Reeolpts llftO heid hiendv falvfs 1, -elnt 400 head Steartj IfiWlO llf OH Receipts 130(1 head Ocneralli ateidy Heavj mlxod and jorkera 10 tlft, llchi orksrs and pia $11 RO'ifU il'i rouiihM 7 r.n Htagf l solid lIli:EP AND IMHS Receipts too h-ail liim'a and et.rl.ngs .10 lower I ainhd ISIJl" 10 fw 111 yearllnga. 18 S0V Id Bank of England Statement London. Juno HO The eelil-y autemen. or (be IUnk o r.ngland khnw a iht f.illonii chanites Tctnl resrrve decreaed l 110 000 clroulsllon Increased I f.2( 000, bullion In rreaeed 03e-2 other securities ItKro,, ., jn ii.l '" 0 n'h-r .lepotlta lni're,ird 0 747 000 publl' deposlta decreased fl.(140(i0(i notes re .. ih .it, leased II. -lilt Ann Oovernment .. curll es Hurt a red 12 70s OO'I Th' t," 1,0. tmii of the bank a reserve to llalilllu I. 12 10 liuit week It was 13 01 Ra.e Jli count 0 per cent ' Allen OH 55 Roone Oil BO Deston Wyoming; 62 nruoa Oil 1 Carlo byn Bh vines perries tomi .... 124 Cltlea Sendee "B" ctfs . 13: Crlo Srn 3 Denny Oil is Elk Baaln Pet 6U rJnglnor Petrol 1 5edoraI Oil 1 A, llllland Oil 2i Olonrock Oil 100 Hudson Oil 83 Int Fetroleum 13 Maracaibo Oil MVi Merrltt OU 74 Mexico OU ..." 85 Northwest Oil IS No Am Oil 14 I'ennoct jii j Papula Ret 3 Flmma Tet ft Hkclly Oil S4 Texon 75 50 41 02 1 34 121 134 US IB 14 w 2U 05 as 124 74 7H IS 4 14 3" 7i lflH 13 B5 41 62 1 BH 121 "It ,14 Hi in S3 76 IS . 14 Ik 34" MINING Pot & Mont . . Caled Mln Caraon Itler CresBon Qld Divide. Ert El Balvador Eureka. Crwwua . . Ooldfleld Florence Oold Zone ltarmlll Dlv Knox DIMdo McNamara National Tin Ray Hsrculss .... Rex Cons Silver Mlnep Tonopih Divide , , Tonopah Extonslon B3 2 3 . 14 32 E7 10 IS 13 14 51 25 .07 24 01 1A noxDS 6a . . 1822 1B24 1820 1883 Allied Packer Amn Tela fls, Amn Tela fla. Anaconda 7a, Anaconda 6s neth Steel 7s. Chi Un fita 04 a. CM Eaat Ills r,s Cons Copper Mines 8a Grand Trunk 64 a .. Humble 7a Interboro 7a Ilia Cent 04 a Llbby. McNeill 7a, ... Hears Roebuck 7a, 182 Southern Ry 7a Southwest Bell 7s .... B O N Y 7. 1823 fl O N Y 7a. of 1020 . B O N Y 64 a .. .. Vacuum OU 7 .... .. P7I .. n.iT ... 814 ... Mil 944 ...1014 ... ao .. 40 .. IMS . . Pfl4 ... 784 . '7i 02 on pn lotvl 1014 nii loo 2 2 li 20 12 K 17 10 10 13 14 56 25 .07 23 Ot IrV H9K 874t 85S SSS 084 1014 60 40 P4 Pfl'i 7S P7 P14 054 06 ns. mi4 lout 100 73 53 2X Tu 20 14 32 27 10 17 12 14 51 2.1 .07 o'i li. 80 H7V OS")! 01H S4U 044 I014 60 40 P4J4 864 78 074 P2 Pfl 06 064 1014 1014 Psi 100 MONEY-LENDING RATES NEW YORK Money on call, both classes of collateral, opened today nt 6 per cent for lendlne and renewinrt PHII.ADEI.rniA Call, fl per cent; time, 6 per cent, commerclnl paper three to six months, 6 per cent Note These are merely nominal qtiota tlons. thn legal rate of Interest In th State of l'ennsylvanla helns fixed at 0 per cent. I'lus premium ana commission, time monev nea for to thirty to ninety days la loaned at 7 74 Par cent, while commercial paper, from thirty to ninety days, la loaned at 7 to 74 ter cam. DIVIDENDS DECLARED Diamond Match Co , quarte-ly 2 per cent payable September 15 to atoek of record Au KiM 31 AiikIo American Oil Co final dividend nf 3 htlllnve per share frei of Income tax In lb ' 1 nPdrrT American Coal Co of Allegheny, quarter y l ..U..-US 1 1.1 aiocK of record July L.nie. U.comotue Worka, quarterly l'i ner cent on preferird pajabl. AugUBt 1 t., siork of record Julv 13 Drovera and Meirhants National Rank second semi-annual 24 Per cent. RAILROAD EARNINGS PENNSYLVANIA SYbTEM . 1P21 Increase Jlsy oper. revenues 133 82:1. 2SB 1243. 52fl Net oper Income 8 375.1552 0 817 701 Five tnos oper rev 20fl 2,0.3I 16,003.502 Net oper. Income 1 204,871 30.448.543 No Change In Raw Sugar New York. Junn 30 Th, waiM an... w,.. ket Is firm at unchanged prleea Wed a day's business practically cleared the n.sr ket of nil offerlnga that were put forward at the level of 4c deltved for 0 flteat These ea! havo relieved all pressure and Im proved the situation matrlally, holders now being hopeful of aotno advance In the mar future following an Increased movement of refined sugar, after the coming holidays Wednesday'!) lu to local refiners follow 73 000 lo 80,000 bags Porto nico centrifu gals, In port prompt and first half duty ahlpment at lc c I f , basis 86 degrees BOO baga San pomlngos centrifugals tn port, at 2 5flltc c. I (., buls 06 degrees. 4700 tons Philippine Island centrifugals, due lulv 15 at I' c. 1. f basis 86 degrees 16 000 tons. Philippine Island centrifugals me vugm.1 1ft rt 4e. c 1 t , basis 06 de grees. A further moderato Increase In the deirund fm refined sugar la being expert en.et The stesdlnees of the raw market and the narrowing of the differential be 1 n in renii' 'I nnd rawH appears to hava given more onfldence to the trade, while the continued warm weather has resulted In Im-reased consumption Refined sugar Is quotrd B 20c to B 30e, lesa 2 per cent fur 1 nh F.derul and Arbuckle rontlnus to quote on basis of B.20C, other refiners r ni lining unchanged atB 30c, lege 2 per cent HsttlsTlttrsjasrilll esnwnRH'HiiiuniMn'tiiMrn To the Holders of Allied Packers, Inc., 20-Year 6 Debentures Wc have prepared a letter on the 'detail, nt th. MODIFIED PLAN OP READJUSTMENT ot? CAPITALIZATION OF ALLIED PACKERS INr Copico of this letter utitl bo mailed upon requ,t $ame, Wtbhtt & Company EsUbllshsd 1MO & 1422 SO. PENN s5Q. rhUadelphla Membtra of Botton, OMcogo and New York Btock Bxchangu .IwiWIiWMIIIIMlWliro 1812 THE 1921 Pennsylvania Company for Insurances on Lives and Granting Annuities TRUST AND SAFE DEPOSIT COMPANY Capital and Surplus - $7,000,000 Member Federal Reserve System 517 Chestnut Street Philadelphia BROAD BTBKET OFFICE Clieatnot and Juniper Streets STATE OF PENNSYLVANIA 5 The price of 103.52 paid by bankeru for $12,000,000 4 bonds in 1010 is equivalent to 117 for tho 30-year 6 bonds w nre now offering at 101 and interest, yielding about 4.05, A. B. Leach & Co., Inc. Investment Securities 115 South Fourth Street, Philadelphia 1XU Lombard 0387 li H ilgHglgVis REGARDING THE INCREASE IN COLLISION RATES OF AUTOMOBILE INSURANCE In January, 1031, th Conference (representing Slock nouncea a new scam 01 ratea on (. alderablr higher than rates of 1020. Cbmninlra) atv- new scale of ratea on Collision Insurance, which taveJ-aged oon- "RATHER APPALLING, BUT H0JE" Table below ahowa old ratea. by the Conference, for Automoblit and new ratea (rreatly lneresusdlp adopted collision insurance, just auewrsxeasars LSn and trucks nf ln2f) nnd 11)21 MnrfHM ar llntArt. bold-faced type) are still belnsVaeda'by ths toraoblle Insurante Exchange, aa explained below. 11)11 loel lOtOfHotklf Make Tjpe Jan. 15 Apr. IS '& 'N?;.15 Bulelc ff-T 19S 269 1SS T24S Cadillao 7-T 301 322 186 398 Chalmera 6-T 177 23 lf 381 CTisvrolet 5-T 177 283 1JJ 381 Chandler 7-T 12 291 1W 339 Dodae T 186 2 14 3J0 Ford T IW 103 M 130 Franklin T IBS 312 WO 288 Hudson ITjaaton 18B 301 174 2T8 Locomobile 7-T 321 834 i 838 Marmon 7-T 314 342 108 81 Overland 0-T IBO 222 WO 308 rackard 7-T (6) 201 322 IB; 3J PaIm (Olenbrook) 177 288 163 301 Peerlesa 7-T M 312 180 3f IMorco Arrow 7-T 210 880 203 815 Reo 5-T 168 260 165 248 StudebaVer 7-T 177 263 168 381 maton 7-T 207 331 101 808 Note: For front bumper deduct 10; for rear bunker' dedrjetTH. 1K1 Model lSMfaitilala Malt Cap&dt7 Bodr Jan. 10 Apr. 15 Jan. 15 isr. 16 NTack 5 ton I100O 100 8804 17 IW Packard 2 ton 1000 187 816 1S2 291 Reo IS ton BOO 180 2j4 146 2J Autocar 1$ ton 600 17 377 160 2 Note: For Radiator Guards on Heavy Models Bumpers on LlgM Models Allowance 10 WE HAVE NOT ADOPTED THE CONFER ENCE RATES ON AUTOMOBILE iCOLUSION INSURANCE, but will continue to sell all forma of Collision Insurance (IncludlnB fall coverage and 123 deductible) at the rates which wero announcedton January IB. 1021. IN OUR JUDGMENT COLLISION LOSSES SHOULD BE LOWER DURING THE NEXT TWELVE MONTHS, THAN DURING THE PAST TWELVE MONTHS, BECAUSE- The cost of repair material will be reduced in keeping with the reduction of cost of automobiles , M The coat of labor haa already been reduced. During; 1920 we paid I J to 12.00 per hour for repair work on cars Injured by collision, we are " paying; from $1 to 11.50 per hour. German Bank Statement flerlln, June 30 The statement of the Imperial Hank of Uermany issued June 23 shows the following changes Total coin and bullion Increased 6S7 000 marks goW deereartd 2000 marks, treasury notes de. retsed AH0 877 W0 marks notes of other banks Inrreiiaed 1 t03 000 marks, bills dis counted decreased 8 1011,795,000 marks, ad vances, Increased 114 320.000 marke Invest nienta, decrnaaed 007.000 marks other ae eurllles Increased 122,728.000 marks notes In i irrulatlon Increased !03iTO,ooo marks deposits decreased 3.B78 2S4.00O msrka other liabilities decreased 817.789,000 marks total cold holdings, 1 091,304.000 marks. Prices Irregular on Paris Bourse l'ar'ri. June 30, rrlcee were Irregulur on the llourse today. Three per cent rentes firt franra 17 centimes, exchange on I,r,n dm 46 Iranos 70 centimes. A per (fin loan f.2 francs 70 centimes, The dollar was quoted at 13 franca 10 centimes, WE DO NOT CONSIDER OUR ACTION TO' BE THAT OF "CUTTING RATES" but rather, maintaining a reaeonable and sufficient scale of ratea, "under K have demonstrated our ability to eam and pay substantial dlvUeoos'to an jolleyholders ' Send for Our Booklet Entitled "A SHORT TALK ON TWO VITAL POINTS OF AUTOMOBILE INSURANCE" which explains Rates" fully our attltode on "The Increase tn Collision Insoranee and "Valued and Non-Valned Tire nnd Theft Insurance" THE AUTOMOBILE INSURANCE EXCHANGE "DIVIDEND PAYING POLICIES" Kaston AUentown needing a. cranio" tsneaster Wt Chester HOMK orricK 807 Chestnut Street Philadelphia Filbert 3634-25 ft 2S Inter-Inruranr. WWSiP B" ... ..n..,4 iiransa In lult. Policy Guarantee M Ttlla Kxchanse la ih. kIm... I change of Pennsylvania, having drat been granted license In 1 we Issue $100.000. a guaranteed Non-Assessable I J 'X V qp '...x, N,r-H, ja-f -- $ t -, a tV'j
Significant historical Pennsylvania newspapers