fflfe ' r o M. Si, i i ,'tm '"'HI iTVENTNTG PUBLIC LECGBPBltABfemA, ifolftri&OTAY, jijLY' 6, 'l&t P NEW YORK STOCK EXCHANGE TRANSACTIONS raT , ' i 4!to . ajjoiisii? $. . 'i- 'vjl:" f ' '" 'a-; fe" u , 20 '' A' 1ISHARPREB0UND C CURB OILS DR it m j (L-i hi " I v- i e-fj L-tf f V Pi t-i ' m iff m iT - fsh, 4JS".) y W AFTER EARLY DIP B ". VW U Commonwealth of Pennsylvania Series "C" 5 Highway Bono's Dated July 1, 1921 Due July 1, 1951 Free from Pennsylvania Personal Property Tax. Exempt from All Fed- cral Income Taxes. PRICE 101 and accrued interest, yielding about 4.93 The National City Company Philadelphia 1421 Chsstnut St. Atlantic City ChaUonta Block 1225 Boardwalk mijtSmsSmmmmm UaV OdHHatWl PalaTII I -W" KViMlimMW' -. H Solving The Problem Of Investment requires an onalysls of facts which can only bo gotten from the proper sources of information. Our facilities we offer for your use. BATTLES & CO. ffitaMbW 1M IndepandMiM Saiai (East) iEEHIHKIEfflllliBfHlUIIllUrajIilwWMaa Market Gave Every Evidence of Better 8upport, Whioh Soared the Shorts Commonwealth of Pennsylvania Thirty-Year 5 Bonds Due July 1. 1951 Exempt frain AH Federal Income Taxes Legal Investment for Sav ings Banks and Trust Funds in New York, Pennsylvania, New Jersey, Massachusetts, Connecticut and other states. Fraa f rem Pennsylvania Persenal Property Tax Price 10i & Interest Yielding 4.93 Circular on request Harris, Forbes & Ct Pino St., Cer. William NEW YORK PHILADELPHIA OFFICE Wldener Bldg. New Yorh, July 8. Today's stock markit tare evidence of little, bettar support The grade could not bo guar anteed. The most part of the buying power emanated from the professional contingent who had seen fit in the pre ceding session to violate the established tradition of selling in a dull market. Nevtrtheless, there was complete trans formation In the complexion of the market and likewise a spirited rebound all along the line, with the recoveries especially animated In speculative spe cialties, such as the Mexican oils, steels and equipments and others recently hard pressed. While technical rather than outside conditions were responsible for the sud den aboutface turn, the market never theless showed every Indication of breaking away from the Influence of Mexican affairs. In all events a fair degree of resistance was exhibited In the initial trading which was more noticeable because of the fresh sinking spell in Mexican Petroleum and allied shares, carrying Mexican Petroleum to a new low at 87. It was undoubtedly tbo detection of this growing underlying resistance which Influenced a sudden shlftlnc of nositlon on the part of reactionists and in their subsequent caegrncss to cover up short commitments virtually placed them selves In a position of bidding up the market against themselves. At the same time there was Indications that not only the supporters of Mexican Petroleum, but also In a number of pool Issues as well, found it necessary to put their shoulders under the market. As long as shorts were kept on the run the upblddlng program was an easy task. Moxican Petroleum was carried up to 04, nn actual not (tain of '2Yi points. Pan-American Petroleum is sues, which also registered low records in toe early dealings, also mndo brls.lt recoveries with General Asphalt, com mon and preferred, Atlantic ilulf and Wret Indies, American Siijar, U. S. Rubber, Studebakcr, handler. Pierce Arrow, Baldwin Locomotlto. Crucible Steel. Bethlehem Steel and Harvester Louisville and Nashville was the out standing feature ot tno rails, gaining 0 points; Southern I'acifl", llock Island and Chesapeake and Ohio were also ittrcng. The renownl rate of GVi ner cent for call loans, with n freer offering ot demands at that tate, gave tho recovery additional momentum in the second hour. The forward swim: was well sustained until the more urgent demands of tho shorts were satisfied, then tho wnolo IK showed a tendency to relapse Into the same dull ness witnessed jestorday. STRONG SPOTS IN THE LOCAL MARKET Moderate Demand Disclosed Scant Supply in the More Prominent Stocks Ss'M 300 700 100 (00 M0 400 800 400 too 1100 son 200 100 100 300 100 310 MOO 1100 1800 1400 1200 13100 100 400 500 nan coo 7M 18600 100 aoo 11200 esoo 300 400 10100 100 100 100 ion ion 400 300 300 1000 100 noo 100 RR0O 100 1SD0 100 200 1300 2X00 200 300 3700 too lno 100 100 1300 100 too 100 100 300 11)0 100 100 2011 rion 100 300 Dlv. 1" lflfh 4 Air Induction ........ i6h .. AJ&jc Rubber 31(4 .. Alaska Gold Mines.... 4 Allied Chem & Dye... !H 4 Allls-Chalmers alii .. Am AmtIo Chem 37 . Am Can MM Am car ft ray mu . . Am Hide ft Leather pf S1U .. Am Intermit Corp.... aH . . Am Linseed 33ft Am Locomotive 80H Am Safety TUior 4ft .. Am Ship ft Com 74 .. Am Emelt A Raf 37t Am Bmslt Seo A. .... . 7U a Am Bteel Foundries. . . 3J4 7 Am Bugar Itaf 32ft 7 Am Sugar Itef pf Oft a Am Sumatra 84 0 Am Tel ft yet 103 12 Am Tobacco ......... 120 7 Am Woolen 1iH . . Am Zlno Lend Smelt 8 J4 . . Anaconda Copper .... M . . Assets Realization ... 2 0 Atch Top ft Santa Fo. BOJfc K Atch Top ft S F pf . . . . 77 7 Atlantic Coast Ltne. . 881$ . Atl Gulf ft W I a S. . 30J4 . . Atl CuU ft WI S S pf . 31V4 . AtlRntlo Pet 18V4 7 Baldwin Locomotive.. 72 U . Baltimore ft Ohio 38 4 Baltimore ft Ohio pf . . 40 5 Bethlehem Steel 43 5 Bethlehem Steel B... 4BH Brklyn Rapid Transit 11 1 0 Burns Bros 88 Butte Copper ft Zlno. . 44 Butta ft Superior Cop. 12 a California Packing . . MJ4 California Petroleum . 39 7 California Petrol pf . . . 7014 Ca Zlno ft Lesd 4!$ 10 Cnnndlnn Pacific 110 . . Case 1st pf 78 . Central Leather 34 Central Leather pf...r70 0 Chandler Motors .. 84 . Cerro do Pasco 3814 .. Cheapenke ft Ohio . . 84 $4 Chicago ft Gt West. . . 7JV Chicago ft Gt West pf . 17J4 Chicago Mil ft St P. . . 37K Chicago Mil ft St P pf . 40U K Chicago Northwestern 084 n Chl Pneumatlo Tool., toy, .. Chi R I ft Pac 3314 Chl R I ft Poo pf. 03J4 7 Chl R I ft PftO 7 pf. 7254 . . Chile Copper 10'J . Chlno Copper 2.t$ Coca-Cola 30 S Colorado Fuel ft iron. 24. Col ft Southern 88J4 4 Col ft So 2d pf 47 0 Colnm Gas ft Eleo. . . . 88 t . Col Graphophone .. BJ 4 Oomp Tab Records. . 80 Consolidated Dla Ins. 8J4 7 Consolidated Gas .... 88J4 Consolidated Textiles 10 7 Continental Can 44 Continental Candv 4 Com Products Ref . 1300 i so Condon ft Co E. H. Rollins & Sons Founded 1S70 Investment Bonds ,1421 Chestnut St, Philadelphia 'Phone Spruce 5480 Boston New York Wilkaa-Barre Baltimore Chicago San Francisco Province of Manitoba 6 Bonds t Duo May IB, 1931 Price 89 and interest to yield 7.50 Payable both at to principal and interest in U. S. Cold coin in New York City. Send for descriptive circular The local market developed nulte a number of strong unots with substantial price Improvement. These bright spots were well distributed through tho list Indicating n modet widening of In terest, but the more significant feature wan to be found in the rather scant supply of stocks disclosed on the rising tide. It would havo been difficult to trace the real motive, as there was really littlo In the way of news or develop ments to account for the change. In scattering parts of the list evidence was given suggesting an oversold condition. This was especially noticeable in Elec tric Storage Battery, with that stock making a quick, snappy rise to 105. or over 13 points above tho low cstab llfthnri n fortnlcht UCO. Noteworthy firmness at the same time was displayed by Pennsylvania Rail road and U. O. I. The first named moved up to 34, whllo tho latter touched B6. Desplto the dilatory tac tics of City Council, there is a confi dent belief on the street tho company -a. ill bo erantcd tho relief measures nnncht. The traction situation apparently was nut nunv in enmnhor for the summer. Philadelphia Rapid Transit regained some or yesterdays Dacasci ac iw;n. Union Traction was a shade better at 32. Slight shading occurred in the Philadelphia Electric Issues. 4000 100 400 300 400 too too son 300 6S0O - 200 '00 88200 100 300 4300 100 200 100 1800 100 100 80 800 400 lOO ?; 300 100 100 700 100 400 100 1000 8000 1400 8700 1 44 20 87K 1314 8 It 38 J4 4 Crucible Steel 2 Cuban Am Sugar... Cuban Cane Sugar. . . , Cuban Cane Sugar pf 4 Pavlnson Chemical . Elk Horn Coal 18 B Endlcott-Johnson .... 88 Erie 1UM Erie 1st pf 19tf 8 Famous Players L. . . . 88 8 Famous Players L pf . 80 10 Fisher Body .. . 78(4 General Asphalt 834 S General Asphalt pf... 88(4 8 General Klectrlo 138 1 General Motors 1114 0 Gen Motors dob 6 v . . 63 7 Gen Motors deb 7 . . . 73 ',4 Gray Davis 11(4 7 Great Northern pf. .. 88J4 4 Gt North Ore ctfs . . . 2714 Greene cananea Cop. . 30H 4 Haskell ft Barker Car. 84 . Houston Oil 81(4 1 Hupp Motor Car 13 7 Illinois Central DOM 80 Indlahoma Ref 3(4 .. Inspiration Con Cop.. 33 Tnternat Agrlcul ... 7(4 7 Int Harvester new. .. . 81(4 0 Int Mer Marine pf . . . . 47(4 Internat Motortr-ck ..28(4 7 Int Motortruck 1st pf 66J, International Nlokol.. 11(4 . International Paper . . 85i .. Invincible Oil Corp... 12(4 . . Island Oil 3 low 30(4 30(4 H an 14 at 37 MH 134M 80(4 33(4 33 H 80(4 r 7H 37 07(4 28(4 eH eo 83 10S 118 60 Bli 37(4 3 0V4 7(4 80(4 33(4 21(4 14H (4 37 H 40 43 48 It . 85 IH 13 8(4 38(4 70(4 S4 108 78 as (4 70 81 38(4 83(4 7(4 17(4 2014 88(4 (4 31 83(4 73(4 16(4 ?t 38(4 38(4 47 88 ( 8(4 30 (4 88(4 18 44 1 84(4 28(4 84(4 13(4 fl , 2444 884 18 88 18(4 19(4 84i4 80 8(4 48 H 88(4 128 tors osn 73(4 "(4 68 37(4 20(4 84 8S 13 80 H '14 38 '(4 78H 47(4 38 60Jj iaji 82 r (i 3 1 80 Nat Cloi Cora 30M- H 31(4 114 H H 88(4- H 3t(4 H 7 28M 14 178(4 1 oh a ,88H ii 23 J4- H 80H H 4T4 V 7a 37W H 7i4 114 38(4 W 72(4 314 Bt 84 1(4 103 120 2 73K 3K 8(4 14 38 J4 3 (4 R0J4 H 77(4 H 88(4 '14 28J4 4(4 21(4 14 l14 1 71(4 a 38H 48 14 43 - 2H 48(4 a 11 (4 85 44 13K 88(4 39 4 70(4 14 110 75 14 V4 70 - (4 849,-t- .V 38(4- W 8414 1 7(4 (4 '7(4 (4 2714 1 40(4 K4 68(4 ft - T4 33(4 1'4 08(4 m 73(4- 10(4 2.1 4 -39JS 88 4 V V4 30 5(4 8(4 19 44 1 04(4 29 87 -18(4- D 34 36(4 1 18 88 13K U, 2K (4 54 2(4 80 1(4 78(4 (4 3 4(4 88(4 (4 138 .. "14 H 63ft yt 73(4 3 11(4 .. 08 "(4 20(4-84 K 2(4 11 V 9094 H 14 (4 33 - V " 14 h 84 3(4 !.- w J8 - (4 n H "(4 (I 54 2(4 13(4 J4 3 S1m 300 100 100 100 2500 100 M 800 300 400 100 Dtr. In I nish Jewel Tea 10(4 . Jones Bros Tea, is . Kansas City Southern 28(4 4 Kansas City So pf . . . . 49 4 Kelly.Sprlngfleld Tiro. 38 . Kelsey Wheel 80 . Kennecott Copper . . 1M . Keystone T ft R 1(4 7 Kresge 3 S pf 98 . Lackawanna Steel . . . 38(4 I Lee Rubber Tire 38 H 1.80 Nat Low Close Chs. 10 r 10(4- v i (4 1 3(4 300 3,80 Lehigh Valley 804 100 12 Liggett ft Myers 148 100 7 Lima Loco pf ., 88 BOO . , Loewe Co 10H 100 1 Loft Candy H 700 it Lorlllard Tobacco ...180 3100 7 Louisville ft NaehvlllellB 100 ,7 Manhattan Elev guar. 42 100 . Marland Oil 1814 78800 i Mexican Petroleum .. (4 C31000 ' n Mexican Petroleum pf 90 "loo 2 Miami Copper 21 3(00 1.60 Middle States Corp... 11 H 1000 . . Mldvale Steel 23H 300 .. Minn ft St Louis 11(4 100 .. Mo Kansas ft Texas.. 3 1100 .. Missouri Paotna 3044 100 . Missouri Pacific pf . . . 88(4 3 100 7 National Biscuit 113 7 100 0 National Lead 75 100 . . Nev Con Copper 11 (4 1100 8 New York Central 69(4 100 2. 80 New York Dock S3 400 . . New York N H ft H. . 18(4 100 7 Norfolk ft Western.. 86 300 s North American 60 7000 7 Northern Pacific .... 7t(4 700 2 Owens Bottling 30 200 B Pacific Gas ft Eleo. .. . 83t 3300 . Pacific Oil 38(4 23500 6 Pan-Amer Petrol .. . 45(4 5300 46 Pan-Amer B 37(4 100 .. Parish ft Bingham'... 11(4 8200 2 Pennsylvania R R . . 34(4 2800 .. Pere Marquette 20(4 100 3 Philadelphia Co 20)4 400 Phillips Pet 17(4 4700 . . Plerce-Arrow Motor . . 20 1300 . Plerce-Arrow pf 40 100 8 Pierce. Oil pf 60 300 B Pitts Coal 55 200 Pittsburgh ft W Va. . . 27(4 loft s Pressed Steel Car.... 70(4 100 7 Pressed Steel Car pf . . 79 100 8 Pullman , 95(4 300 . . Punta Alegre Sugar. . 28(4 800 4 Pure Oil 26(4 70 n .. Ray Con Copper 12)4 3800 4 Reading i1 100 8 Reading 1st pf 39 levu . itepuD iron sieei... iy 360o S.JO Royal Dutch N Y. 2 H (4 1800 lOOO 7400 100 100 1200 14400 7800 2100 400 400 100 200 40700 300 300 100 5400 1700 2200 600 700 1100 300 1600 800 300 600 2800 800 300 14900 200 16700 200 600 200 100 201) 300 1200 500 100 700 800 100 400 1500 200 100 i00 St Louis San Fran... . St Lou It) Southwest. . . Scars-Roebuck ....?. . Seneca Cop Corp. ... 8hattuck Arizona Corp ,74 Shell Transport 55(4 24 H 24H 00(4 15 6(4 41(4 Sinclair Oil 31 Southern Pnclfle . ... 75(4 Southern Rail 20H . Southern Rwy pf 48 4 Stand Oil of Calif. . 71 7 Stand Oil of N J pf.. 1004 2 Stewart Warner Speed 25 7 Studebakcr 70(4 1 Submarine Boat Corp. 0(4 (l Superior Steel 20(4 Tenn Cop ft Chem. . 74 3 Texas Co 33(4 Texas ft PaclCo 334 1 Texas ft Pao C & O. . . 10ft . Third Avenuo 16 8 Tobacco Products .... 54(4 .. Trans Con Oil 8 .. Union Oil 10 10 Union Paclflo 118 4 Union Pacific pf 63(4 8 United Drug 859. 8 United Fruit 100 8 United Retail Stores.. 5494 . U S Ind Alcohol 53 ..US Realty ft Imp... 40 8 U S Rubber 534 8 U S Rubber 1st pf 944 BUS Steel 744 . Utah Copper 49(4 . Vanadium Corp 30 . Va-Carollna Chem ... 204 . . Va Car Chem pf . . 70 . . Vhnudou lno 7 , , Wabash 8 .. Wabash pf A 32(4 .. Western Pacific 25(4 7 Western Union Tel. . 80(4 4 Wostinghouso V & M. 44H .. Wheollng & L E 0 . . Wheeling ft L B pf . . . 17 . Whlto oil Corp 0 .. Willy-Overland 7 . . Willys-Overland pf . . . 33 8 Woolworth F W 110 0 Worthlngton Pumo . . 43 10 78(4 ? .t 60 1814 11(4 98 38 284 5084 141 88 10(4 H 1414 1134 43 1H 874 90 31 10H 334 13(4 3 30 38(4 113 7C 11(4 8(4 37 17 J4 96 ' AS MJ4 30 43(4 M54 30(4 854 11(4 34 30(4 394 17(4 18(4 39(4 60 55 27(4 70(4 70 95(4 38(4 3H 12(4 66 39 45(4 (4 24 23(4 03(4 15 0(4 41(4 1994 74(4 19(4 48(4 71 10094 24 744 0 20H 794 33 J4 33 19 15J4 63(4 19 117 63(4 85 100 53(4 5394 48 81K 94(4 7354 484 2SJ4 28 70 0J4 8 23 25 80(4 43(4 17 I4 94 32t4 110 42 IS - Y 36(4 H 4 374 J4 60 18(4- 14 11(4' 14 98 4ft 38(4 114 384 804 148 88 10(4. 894- 140 117 43 - 184- 93(4 Y 900 21 a u - 33(4 13(4 3 304 75 U14 60(4 32 18(4 A 'A 3(4 5 1 (4 (4 U4 2 3 "(4 H 14 14 (4 54 14 14 (4 14 96 (4 602 71(4 2 30 58(4 (4 35(4 1W 48(4 394 37(4 5 11(4 114 34(4 14 30(4 (4 2094 17(4 30 40 60 -88 37(4 70(4- 70-1 98(4 1 28(4 (ft 36(4 .. 1394 14 0794 14 37 47(4 1 55(4- H 34(4 2394 !4 68(4 H4 15 014- 94 41(4- 20ft 194 75(4 J4 20 40 71 .'0014- 25 79 0(4 29(4 2394 lft 16 54(4 l-794-19 - 11794 03(4- 8594 194 106 1 54(4 IK 531 49 94 53 14 9494 1J4 794 I 40(4 20 2094 70 7 8 22(4 0 17 0 74 33 110 - 42 10 LOW LEVELS Market Value of Many of Group Declines to Fractions of a Cent New York, July 0. The most lm- 1 pbrtant features of the trading on the Curb Market today were the lpsses sut tnlncd In a number of industrial Ifkucf which havo been steadily declining am' which are now established nt a low rec ord, In some cases the declines nlmost wiping out values of those issues. An Instance of this depressed market position was shown In Car Light, whlcn for a long time held above 2, but to day ranged from $1 to 78c, falling out of tho dollar class. Many of the oil stocks, including Glcnrock. havo now a market value of only fractions of a cent a sharo, compared with quotations In dollars only n short time- ago. Tho gcncrnl market moved in an 11 regular manner, these declines being re corded In tho early trading. Later, a steadier lono developed and recoveries were made. In tho period of weakness, Cities Sen-Ice common sold down from 111 to 101), a new low for this move ment. There was vcrv little trading In the Standard Oil issues, the only one in the morning being Atlantic Lobos, which sold at HVs. Maracaibo found support and, after declining to 20, rallied to 20. Mcrrltt Oil was one of the petroleum stocks that showed 0 better tone as a result 01 tana enanges and was traded in at a moderate ad- I vance. ulcn Aldcu Coal sold down 1 to 30 during tho first hour, but be enmo strong after midday. The candy stocks were firm, Sweets Co. trading In at 8 to 3 and United Itetall uanrty sold nt u to . ixnusmiALs iaLsaPL HLHaLl.Ll.Ll.H I BMMMMMMBMWBMpjg'Sjl 1'f:T1"1' H v (4 14 94 (4 394 (4 (4 94 ft (4 (4 1(4 (4 'A (4 (4 Rich CUr Llaht 100 Callulolil pret 101 Com Ilnancs 41 com rlnance pre! 04 uanana a a Olen Aldrn Keyden Chem Sweets Co Todd (?hlp tl H DlatrlbutlDf .... V B U II U S Ship Corp United Profit Sharlnv United ntUII Candy . Willys Corp K 1 101 42 B4 .14 an 1.30 P.M. 78 J2J 04 88 ft o 50S no 23 17H 7A 03 ?V iJ" It 03 23 iS" 7A 63 BTANDABD OILS Atlantic Lobo 11(4 11H 11' INDETENDENT 0O8 SO SO 4 4 0'4 10 3fi 20 i B2 100 111 13H i- H 1 94 1(4 94 'A (4 (4 1(4 'A Vi m (4 4 (4 Commodity Marltets Philadelphia Stocks M We are prepared to suggest a line of hlgh grado Investments for July funds. We can offer short-term securities yielding from eight to ten per cent ; long term to yield from 5.76 to 8 46 per cent WlDINIR BlM.PHtlADUPHIA Mnim PUlfJMUewuJ NflbrStocJiCxdifr ww yew iubiiti h.j 100 Am Strs.. tlA 25 do pref.. 01 00 Am Gas.. 28 50tKald Loc 70 MO Elec Stor.105 220 Gen Aaph 52 42 I Co N A 28 10 l Nov. 03 Vi lOOtMex Pete 1)4 121 Pa U R . H4s lOOPhlla Co cum pf.. 3114 53l rhlloElec 2U5 201 do pref.. 20 .'lOOPhlla IIT 10S lOOtReadlng. 07i 100 Tono Bel. 1 85 Un Trac 32 318 U G I 35 20 West Jer 4 S 1:18 P M. Nat Lim Uy "I'Af "t 04 04 . . 28 28 1 70 70 Yt 102 101 2$ 347s Vi. CO? A 28 03 04 34 31i 21 25Ti 16A 07 i k uva 2SX insi-L 07V11 1 tV 32 35 1 a t GRAIN MARKET Chicago, July 0. Wheat starUd 1 to 1?4 cents lower for July, to 1 cents off for September and to 1 cent lower for December, with scat tered commission house selling and lack of support. Somo September was bought by commission houses on the de cline. Receipts inspected yesterday were 175 cars; last year 30 cars. Tho cash market was weak, with premiums reduced. Export business yesterday was re ported at 100 loads, or 500,000 buBhels, to Sweden. There was. in addition. considerable buiinc of futures on the break which was hollered to be against export bales. Enrly weather reports show little precipitation ovor any part of tho grain belt and temperatures In the North west ore slightly higher. Corn started to cent higher for July and to cents lower for September, which was sold by com mission houses, and unchanged to cent higher for December. Trade was modct atp and mixed. Oats started cent higher for July and September aud to i cent bet ter for December. Trade was mixed with commibslon houses on both sides. LIVESTOCK QUOTATIONS cnf.0"!' J.uly. CATTLE Receipt!. aOUO head. BAf ll.nr. .nl h. Atr at..r1v 1 tr.0IS'. .lor. . bulk fat atoera III 7Mi e -0, duiic lat cow! and helfera. 44 Boat) SO; canners and cuttera tanoly. tl 76S as. bulla and veal calvet itronjc 10 20c hlithtr: bulk bolorjiaa. 14.004.00: butchtr iiradei laraoly J5irB.7B: vM calvo, I8.7B&S B0. etockera atrong, feadera dull. HOOS Receipt!. 10.000 h4d Moitlr. 30c hither than yeaterday'a avtrase. Ilchla and lleht butohera active; other low: top lU 78. bulk, I0O9.70. plsa 2Bc hither, bulk tfoalrable, IBW0.28. 8IIEEP IUcelpt!. 8000 bead Moitly 2Bc nlshar: soma Woatsrn thttp. 10a up. Top, native Iambi, to packer! 110 2B one drck, 10 OB to ahlppari: vary aeod Idaho held at $11: cholc dry-fed yaarllnn, 18 B0. fat ewes, mostly t83'4.2B. Ilttaborsh. Jul: neao. yorkera 10. ),7B HOOS Receipt!, 1B0O eavy 00 tr Mrsh. July 8 HOOS Receipt!. Ulaher. Heavlaa, (0.40O0 B0: h . llarrit yorken and plrs S10. 27 27 27 1 tNrt chanae madn by comparison with laat sale on M rtw York Btnrk Bi'-hanire piirLADniJ'inA donds 1500 Liberty 2d Is reg SO 70 2150 Liberty 3d 4b 01.10 1030 Liberty iia 4s m .us 1000 Liberty 4th 44s 87 40 KssssaaH M issssV 1 I k. I HlZS For Conservative Investors The Highest Grade Railroad Seasoned Underlying Issues are obtainable at very attrac tive prices, with many of them telling from 20fo to 25 less than pre'ivar market prices. List of suggestions upon re quest. t Reed A. Morgan & Co. Wttt Rni Trust Blio.. PMla. Minbr of the Phlla. Stock Etch. 500 Liberty 4th Wx 87.50 300 Liberty 4th t'4e 87.50 2500 Liberty -1th 4s 87.40 500 Victory 4ain OS. 44 1000 Victory 4ts 08.40 1000 Amer Gas & Electric 0s. . 72 5000 Amer Tel & Tol 4s 78 1000 Bell Telephone 7 103 1000 Hell Telephone 7s 103 4)()U Lenten inov cons iM.s..iotB hs 1000 Pennsjlvanla 0s....lots 1000 Philadelphia Dice 1st 5s. 118 84 COTTON MARKET New York, Julj 5. The ''ottoti mar ket opened easier at a decline of 8 to 18 points. Prices nt Llvrrpiol were lower than had been rapetted. which, together with hedge selling aud heavi ness in foivign exchange, clilelly ex plained the setback here. On the decline Wall Street and the trade were fair buyers, but at the end of tho first fifteen mlnuttn die local lit.t was rather heavy nt a net le of 15 points on October. Early estimates In dicated Ju'y notices representing 1000 baleb issued thlx morning. Prev close Openlm July ... 11.88 October 12 81 December .... 18.05 January .... 18. IB Slunh 13.4 J nid. SHEEP AND LA11DB Receipt 800 hrad Bieaay. iop snoop, id.oui ion lamOH Ji: 1'a.i.vkh iteceiDta. 73 Top 111 Receipts. 73 head. HiBhtr. Eost Iluffalo, N. Y., July 8, CATTLE Reoelpta. SCO head. Steady. Calfes, re ceipts 100 head. Fifty canta hlsher, 13 W i: HOOS Reoelpta, 1500 head. Active, best I5c hUhexi lleht, 2SQSOC hlahar. Heavy, U0.1B&1O38; mixed. I10.36O10.8S: yoric ere, S1OSBO10.B0: lurbt vorkera and piss, 110 6OW10.7B, rousbs, S7.B0O8. ataaa, 44 Bono SHEEP AND LA&niS Receipt!. 200 head. Lambs 7Bc higher Lambs IfliU OS, othera unchansed Financial Briefs The aerage price of twenty active Indus trial atocta declined .64 per cent yesterday to 07 71 while twenty active railroads lost .23 per cent at 70.8S. E. E JonaM. of Stroud a Co.. la in P&rls where he Is makinr a study of the financial siiuauon The bank rata of Dtnmark and RwMl.n has been reduced to 0 per cent The Dank of Norway lowered Its rnr to 8V4 per lent. Tha (lumbar of ldla fmlaht ror. pAnlltm., to decline, according to figures srven out by nation. Thee in on corn- Allen Oil 6i Allied Oil 4 Arkanea Nat Oaa 10 Boone OH 32 Boston Wyomlne 82 Cities Service (old) Ill Cltlee Service "B' 12H Cushlnr Pets 20 20 Federal OU '1(4 1(4 Qtenrock OU OB 66 OrarMda 4 4 Hudson OU 80 30 Inter Petroleum 12U 124 Maracaibo Oil 20 20 Merritt Oil 8Z H Mexico OU 82 81) North Amer Oil , li4 l'ennok Oil as! 3H Prnd A ReHnera 8( 3 Red Ilcck Oil 3S 23 Ryan Con 4H 4U fait Creek Prod 10(4 10A equoyah Oil aB 36 Slmma Pet OS 84 Texon 76 7ft Victoria Oil (new) 8T 8S Woodburn Bfl on Zapata pref 1H '194 M1NTNO Big Ledse 20 16 Boston A Montana 60 45 Caledonia Mln 10 . 10 Calumet A Jerome 17 17 Candelarla Mln 80 28 treason uoia .,,, iv Dolores Esperans 2(4 Divide Ext 10 El Salvador IB iiarmiu uiviaa 11 IB IS the American Railway Aasooli enowea inai mere were 877,81)0 cars excess of current frelsbt requlremeuta june -o, or a reauction or seus cars, pared with the total on June 13. Kerr Laka McKlnley Darrach MncNamara . t Mason Valley ji. .Moiner i.ono (new) BV1 Nevada Ophlr 80 Prlnoa Cons an Rex Cons s Hllver Hills of Nev 28 Tonopah Divide 80 Tonopah Mining 1A Yukon Oold !. I so" BONDS Allied Packers 0s Amor Tel lis 1922 Amer Tel 1024 Amer Tob 7a l2d ... Anaconda 7a lli.'O . . . Paver Board 8s Beth Steel 7a 1535 . (hi U stlt OH a . Com Qns be Copper Export Hi 10iS.. Copper Lxport 8 10J4. Oalena 7a . . . . , Heinz Co 7s Humble Oil 7i Interboro 7e ..,, Illinois Central OMa .... Sears-hoebuok 7a isii '. ' . loo Southwest Hell 7a . (Ill ttand Oil N Y 7a 103 Stand Oil N Y AU. hun Oil 8s . Texae Co 7 Western Eleo 7a IS IB 14 80 2(1 7 28 60 80A U SO 66 4 80 Si 2H ,b tit 76H 87 00 1H 4. in 17 18 B 3 IB 18 .ft 30 an 8 28 80 1A 80 New Incorporations li June amounted to 8676 077.800. as corn-pared with tl, 828.221. 400 In June of last year, according to flgures compiled by the Journal of Commerce. For the six months ended with June, new Incorporations totaleiT 16,117.472,700, where as In the corresponding period of 1020 they totaled 16,010,210,800. DIVIDENDS DECLARED Federal Sugar Reflnlns Co . quarterly 1H eer cent on oommon and ltt per cent on pre ferred both payable August 1 to stock of record Julv 21 consolidation Coal Co IK nuartftrlv per cent, payable July 80 to slock of record Snuffer Oil and Refining Co quarterly li per cent on preferred payable July IB to stork of record June SO, in n pr American Light and Traction Co Xlnnnl.ln ni.l.. Taii- rA per cent on preferred, oavalil stocxnoiaara ot record June 30 July quarterly 114 30 to loiaors ot recora june 30 erlcen Light and Traction Co iur- 1 ner cent In rash anil 1 Mr rnt In stock on common ana quarterly 1U par 11 70 12 46 W 0 is oa 13.37 1 P M 11 70 12 64 BANK CLEARINGS iH I, HOCKEY GO. 'AjMMtmUntt Bank clearings today, compared with cor responding day last two years 1031 1020 1010 Phlia ,B78.4B8 474,401.068 $76,tf67,180 ZI0N WORKERS RAP N. Y. ti Much Worao Than Chicago; Every body Dances, Deaconesses Report Zlon. 111., July 0. New York is a very wicked city, much w-orte than Chi cago, according to tho report of two SCIon deaconesses, who returned yester day after more than five months passed In the metropolis, "All they think of Is pleasure, money, movies nnd dancing," the two, Miss Krhplhnrn nnd Miss lluhmann. re ported. "They are danoluir nil the time. Church members, too. They all iftnrfi." They reported they sold 12,550 pieces of Zlon literature. They itxpcet to make another effort to concert New York jS,tnwmmmnm.- u -",!- - '- Trt 1 7,MiJllSacutW-.I NEW YORK COFFEE MARKET New York, July 0. The coffee fu tures markot oncned unchantfed to 0 points higher this morning, with trans actions conunea to n lew lots of Sep tember. A special Santos cablo reported futures unchauged to 125 rcls higher and this had tho effect of, checking sell ing pressure. At midday the market was very aulct. September continued to be tbu only month traded In, then) being a scattered demand which sent that option 7 points net higher to 0.87. The market was entirely without feature of any kind. JPrev Cloie Oiwn ., fl 30 6 81Q16 072 671085 7 01 7 02 7 20 7 10(920 cent on preferred, nil payable August 1 to morx ot record Juiy n Middle City nank. semi-annual 8 per cent, pnyabli- July 12 to stoik of record July 6 Equitable Eastern Banking Corporation. Initial 3 per cent payable July 6 to slock of rerord June 30, American Clrar Co , quarterly 2 per cent on common, payable August 1 to atock ot record July IB, 10 (10 0fi 00 70 63 1804 no eou September December March . . Mav . . Bid RAILROAD EARNINGS CANADIAN PACIFIC U21 Increase rourth week June .. 4,S7.O0O 1678,000 r-rnm .Tanujirv 1.... R2.2TS.000 A.202. Ptcreis. 1,278,000 8,202.000 "4 Eomeitlfl lV mm. BAR SILVER ellve SECURITIES AT AUCTION The followlMr securltlos were o!d at auc tion today by Barnes & Lonond- STOCICS Eharea 21 Falrmount Savings Trust Co fl Tacony Trust Co 26 Miners Bank of Pottavllle Pa , 20 Continental Pnasemter IXvry Co 45 Oertnantown Passenger Rwy Co.. lfi Phlla & Oraia Ferry Pass Rwy 24 Hor ft Harden Co of New York pref together with 12 shares common, bonus , . , 05 Westmoreland Coal Co. 06 Westmoreland Con! Co. BONDS 14000 Enterprise Manufacturing Co of Pennsylvania, BH per cent rtrst mortgage, elnklng fund, due 1680 09 260 Indiana Service Corporation, 0-0 per rent, adjustment mortgage ilue 2020 . , . . 10 BURNS FATAL TO TWO Little Girls Die From Injuries Re ceived on July Fourth Altoona, Pa., July 0. Ilurned from head to foot when her drees was IkiiIU'iI by a sparkler Monday niitht, Josephlno Copt-tto, six years old, died yesterday. It was Altonna's only Fourth fntnlltv. The committee on seeurltUa nt h ru, York Stock Exchange has ruled that the ew oneana gsneral mortgage 4H per cent bonda of the niw uriidni iauuy anu i.ignt Co . due 1985 are to be dealt In "flat'' and must carry the July 1 and subsequent coupona to be a delivery, This ruling followed tha re ceipt! of notice that the Interest that ma. tureu July l on- tno bonai li not being paid William T. Shilling le aiuoelated with Harrison. Smith Co. In their sales department. e unchanged r nly Fourth fatality. Pittsburgh. Julv 0 Marv nrnroTT.1. I e, five, years old, died In it hospital yesterday from hurnn rvAlc,l ,!,,... ijbe watl playing with Urcwprka Monday FOREIGN EXCHANGE New York. July 5. All the lending exchanges were fractionally lower at tue opening touay, aDsence of demand being the chief factor. The quotations were: Sterling cables 3.72 1-10, demand 3.716-10; franc cables 7.08, checks 7.07 i Delgian cables 7.00, checks 7.80; Swiss cables 10.84, checks 10.81; lire cables 4 85, checks 4 84 ; peseta cables 12.88, checks 12 80; guilder cables 31.80, checks 31.75; Stockholm cables 21.85, checks 21.80; Chrlstlanla cables 14.15, checks 14.10; Copenhagen cables iu , cnecKS iii.iu; martin, 1.33. Tho rato of premium in Montreal to day on iew aoru tunas was ia per cent. The rate of discount In New Xoru on Canadian funds was 12 per cent. Central Huropeon exchanges were dull. Oreek continued easier at 5.70. The others were: Bulgarian, 1.10 J Ilu- manian, i.-iuy; Austrian, .17; Polish, .05Vj! Czecho-Slovaklon, 1.34; Jugo SlavTa, .07. YESTERDAY'S FINAL QUOTATIONS Sterling Franra T.lp ri..iM.. Demand . 3.72S 8 00 4 00 82.70 40 30K 40 . 07 7fi OH. 06 06 00 ,100 100 100 J2'4 02H DJH . 75 75 7fl UIV4 04Vi 04 H Jll , 102 108 lOOJi 100V4 loow ,004 00 80S loo notl inn . oiu avl 98 SIS 07H oS OflK 96H 06H . J8 T7J4 78 . 07 S 07(4 07S x vn H 100 100 64 6"4 102U lnj. 104 S 104H huh on vi onvi 01 fil ni 00 00 004 90H ... . m ?::: 00 Cablea . .. 8.73H 8 02 4 02 32 80 TODAY'S OPENINO QUOTATIONS stSrJ'.nF F.ra,1c" LIE Oullders . 8 71A 7 07 4 84 31.7b .. 3 73X 7.08 Vi 4 88 SliSO NOON QUOTATIONS Bi!D K'W Ur" Guilders .. 8.70 7.03 4. SO 32.70 . 3.71 W 7.04 4 SOW 32 75 Demand Cables . Ca mane Ilea MONEY-LENDING RATE8 NK1V yonK Money on call, both classes of collateral, opened today at 6Vi per cent for lending and renewing. PHILADELPHIA Call, fl per cent! time 0 per cent commercial paper, three to six months, n per cent, Note These are merely nomlaal quota, tlons, the legal rate of Interest In th. State nf Pennsylvania being flxed at 8 per rent. Plua premium and commission, time money for thirty to ninety dtya Is loaned at 7 to 7 VI per oent. while commercial paper, from thirty to ninety days, Is loaned at 7 to IV, percent. LONDON Money quoted at 4U cent. Dlioount rates. (ort bills. 5 cent) ubre month bill, r-1 -per oent. per per liv. f r v h l4 LMI&". BANK STOCK CERTIFICATE 100 YEARS OLD IS FOUND Shares Issued In 1822 May Mean Fortune to Seattle Man New York, July 0. (Ily A. P.) A scrap of paper that for five generations has reposed between the covers of a faded copy of Spenser's Faery Quecuc may mean wealth and luxury to Alfred Mntkins Scjmour, keeper of n small restaurant In Seattle, Wash. The paper In a certificate of sixty seven shares of stock In the Mechanics' Bank, left by Thomas Williams, who died in New ork in 1822. Its actual value, together with accrued interest, was declared to amount to half a rail lion dollars. The certificate had dropped out of sight, but was discovered by a genealo gist, who was going through a library In the household of a family In Troy, N. 1., where Seymour bad had a sis ter and an aunt. Seymour has estab lished, It was asserted, that Williams was his great-grandfather nnd that he now is the solo heir to his property. Ills claim has been substantiated in several courts, but n legal battle h Ht ill In progress. The bonk, now known by virtue of various mergers as the Mechanics and Metals National Bank, maintains that It has no record of the Isue of Mock nod nloaded the ntntutn nf lln,HnH Supreme Court Justice Wagner recently ruled against this plea, but attorneys '"' " """a urciarca tney would carry the case to higher courts. Treasury Building, Wasldngton jfor the individual, Firm or Corporation U S Treasury Certificates A safe and profitable method of using surplus funds while waiting for an acceptable long-term invest ment or the needs of your business. Call, Write or Telephone ' Spruce 8200 Commercial Trust Company Member of Federal Reserve System City Hall Square West THIS Bank practices the maxi mum of progressiveness com patible, with sound conservative banking. Central National Bank of Philadelphia Chestnut Street at FiiHi Capital $ 1,000,000 Surplto arii.Undfvfdcd Proiu Eamo! $4,400,000 U. S. AID VITAL TO GERMANY Dr. Rathenau 8ays Recovery From War Depends on America Hamburg, July 0. Germany nnd the 1 nited htates were represented 11s at Mieoppo-we poic 01 tne world's finan cial structure by Dr. Walther Ilothcnou. Minister nf Heconstriietion, in nn ad dress yesterday before the Ham burg Committtc for the Restoration of Peace-Time Kconomy. "The United RtntM the world's chief creditor and P.ermnny is the world's chief debtor, with all other na tions sandwiched in between those tun n creditor or debtor nations, each tied to or obligated to one another," ho snld "It is to be hoped," said Dr. Itatli cnau, In discussing America's psit in tno upbuilding 0' Europe, "that the ralsnty ISatlon beyond the Atlantic with which wj hope peace will forever unite us as it.has slijw jestcrday, and whose sword when laid in the balance Is equally as decisive as its pen, will real lie that conditions n Europe cannot be Corrected if a tnptnr n' M, U..i ji' pensions as the United states with, hold it' collaboration." Wo beg to announce that MR. ATHOL V. WISE iB now associated with us in our Bond Department. PARRISH & CO. Members of "fl7 1) New York Stock Exchange " ' Philadelphia Stock Exchange 115 Broadway New York, N. Y. 1500 Walnut St. Philadelphia, Pa. 1422 60UTH PENN 8QUARE PHILADELPHIA JULY 1st. IMt WE TAKE PLEASURE IN ANNOUNCING. THAT MB. E. C. STOLLBNWEROK HAS BECOME ASSOCIATED WITH US A8 MANAGER OF THE DOND DEPARTMENT IN OUR PHILADELPHIA OFFICE. D06TON NEW YORK CHICAGO PAINE, WEBBER & CO, State of Pennsylvania 5s 101 and Interest A. B. Leach & Co., Inc. Investment Securities 11B South Fourth St. nell Lombard 0187 Frederick Peirce ",M nm.. '0 HKH9 "MHWI xfisi rrtm ... ...JK'- .j ,-W,i)"... . -tV i gguyjgtgj, Iftk ...... n t v-JfTi miuumwmmtwwmmmNmiw $25,000 will obtain for a young man active partnership in Established Engrav ing: and Die - Stamping Business, handling high grade work only. Whole sale and lotuil. Yenrly not income now approximately $GO,000. A 233, Ledger Offlce vMwtwwwwwmma0-. AUTOMOBILj INSURANCI UBBKTY 1IDTOAZ, W0AJ'y riuasl lAieust W7 , sv-ss " i-.. 1 1 ik
Significant historical Pennsylvania newspapers