. O "T ' ' l"v. fs t ViEOTG PUBLIC LDaE-MMMlJMlAMOKDA.JttJLY' 11, 1021 v; r v. iv &i ? Our July List of investment sugges tions contains over 160 diversified bond issues, carefully selected to meet the individual requirements of con servative investors. Ask for Circular F-llt Harris, Forbes & Co Pine St., Cor. William NEW YORK PHILADELPHIA OFFICE Wldcncr Bldg. &J JP m jw 'j AVW fc 'a sm umn mmv f liiB lB Ban i fymmmmnFA We recommend for investment Canadian National Rwys. Canadian Northern Rwy. Co. 25.Yr.6",i,due July 1, 1946 They arc non-callable. They are guaranteed principal and interest by The Dominion of Canada Price 96 Yt To Net 6.80 BATTLES & CO. ffiM(jaJ W I Independence Senior (Rast) v UrisKixiiKfi!! aira;r1a;is'lrjsiiM3"jniiii:K3!iBiiitrffli!?ii;iiiTi!i!srairffl; ESTABLISHED 1865 BIOREN & CO. BANKERS 410 Chestnut St., Philadelphia Government, Municipal, Railroad . and Corporation Securities Membrra Xeto York and Philadelphia Stock Exchanges zm&ammmmmmmmmmmwmmwma MARKET DIVIDED AND IRREGULAR Spruce 8200 j- i NEW ISSUE CANADIAN NATIONAL RAILWAYS 2S-Yr. 64 Bonds (non-callable) Price to yield about 6.80 SIHTRITIES DKPARTMnNT Commercial Trust Company Member IVderM Reserve System City Hall Square Wet More Weakness Uncovered in Specialties, but List Came Back Strong Now York, July 11. Today's Btock market gave every sign and eymptom o( getting what it hns long needed a pro longed period of rent. While the move ment wns on much the snme crasy Uiilt order ns witnessed In aoveral of the preceding session, there wait n dis tinct sobering noticeable in nil quar tern of the lint. A number of the for mer prominent pool Issues flopped nbout in the usual erratic fashion, but the greater pnrt of the more representative nharc.i moved mechanically. The trad ing, as heretofore, v. as of a distinctly professional character, and virtually carried no significance, other than con stant uhlftlng of position on the part of that clement. It was n toys-tip whether the over-tho-wcek-ond development favored more the constructionist! or reaction ists. The U. S. Steel totinnse published after tho closing on Saturday was lea than expected. It should not .surprlso any ono in view of the knowledge of the steel Industry working only 20 per cent of productive rapacity. Thrt Clearing House statement revealed- sub stantial increase in reserves, but the marked contraction In demand deposits and loans reflected the growth of the biiHlncgs .stagnation. Foreign rxchangu continued to weaken notwithstanding the favorable Intorcnces drawn from international developments over the week -end. The llritlsh rato opened Ui cents under Saturday's closing (tuotation, and the decline was further extended during the morning with the Increasing weakness of the entire ex change market. The biggest piece of constructive news came with the announcement that President Harding had invited the lead ing nations of the world to discuss the much-talked-about limitative arma ment. Wull Street and the financial community, however, would prefer to see better teamwork nt Washington. It is generally recognized the Admin istration is striving to cut down expen ditures, wherever and whenever pos sible, but It Is felt If Congress would join hnnds and work to cut down taxes n renewal of business activity would iiuickly conic to pass. Call money rates remained relatively easy, as there was reporteii to be a liberal supply of funds nt "Vj per cent, which was made the renewal rate. During the morning the market was virtually divided into two sections. The mass of leading issues were firm to strong, but a large number of industrial specialties were pressed on the market at times in large blocks and some of these Issues were forced to new low records, Indicating liquidation was still incompleted in numerous spots on he I'M. Senrs-Kocbuck was a conspicuous weak spot and was reported to have been Hold heavily by houses with Western connection. International Harvester was also sold freely by the same quarter. At the same time Famous Players con tinued under pressure; losing over 3 points. Other soft spots included Su matra Tobacco, 1. S. Itubber. Pullman, t uban Cane Sugar. Induxtrtal AI I cohol and International Paper. On ' the other hand, Unldwln Locomo- the, Studebakcr. Crucible Steel and At 1 lantlc (Sulf featured a moderate rally i with American Sugar in the t-ccond j hour. Just before midday the recovery I became more general, and there wos I spirited rebounds In a number of specu j lative specialties like Mexican I'etro I lcmn and General Asphalt on what ap peared to be hurried covering of the short interest. LOCAL TRADING WAS INANIMATE NEW YORK STOCK EXCHANGE TRANSACTIONS Sates moo 100 103 400 100 400 800 AOO 100 100 600 1100 100 100 800 100 14100 200 1000 4100 (00 300 100 acoo too 400 700 100 Oft xtoo 3300 too MOO 10a 200 100 100 300 too too 400 100 ooo 100 400 400 800 000 1800 000 500 200 100 300 1800 2500 200 iooo cno 300 ntv. In I Hteh .. AJnx Itubber 21 U .. Alaska Gold Minns..,. (i 7 All American Cnbtoa. .103,1 4 Allied Chem A Dye... m 4 Allla. Chalmers SI . . Am ArtIo Chem 3AJ-& .. Am Can 19 It Am Car & Kdy IWA .. Am Drug Syn 4H 8 Am Rxpreen i.ltfl .. Am 'Internat Corp.... B4H .. Am Linseed 30J4 0 Am locomotive 80 7 Am Smelt ft IUf pf , ..11 3 Am Steal Foundries.,. 3014 7 Am Stel Fdya pf. ... ftoft 7 Am Sugar Itef 8714 7 Am Sugar nef pf 88 8 Am Sumatra SOHt 0 Am Tel ft Tel 1031 12 Am Tobacco 117 H 6 Am Tobncco pf new.. RH 12 Am Tobacco- D 117 7 Am Woolen 80H 7 Am Woolen pf OS .. Anaconda Copper .... 38 14 0 Atch Top & Banta F. 82 .. Atl Gulf ft W I S 8.. 24 J4 7 Baldwin Locomotive. . 7S$ . DAltlmore ft Ohio 30 H 4 Baltimore ft Ohio pf . . 81 0 nethlehem Rteel I).... 40 8 liethlehem Steel 8 pflOO .. Drklyn Rapid Transit UK . . Uutto Copper ft Zlno. . 4H Caddo Central O ft It. 11 .. California Petroleum . S7J4 2 Cat Zinc ft Lead...... 4& 2 Calumet ft Arizona. . . 48 to Canadian Pacific 110)4 . . Case 1st pf 73 .. Central Foundry pf. . . 34& . Cerro tie Pasco 20 0 Chandler Motors .... t&4 .. Chesapeake A Ohio,.. 88)4 . . Chicago Mil ft St P. . . 2714 .. Chicago Mil ft St P pf. 41 K .. Chi n 1 ft Pao S3 0 Chi It I ft Poc 6 pf. 4& . Chile Copper 10, . . Chlno Copper Coca-Cola 0 Colum Gas ft Elec . . . . . Col Grnphophone . Consolidated DIs Ins.. 7 Consolidated Gas . . . . . . Consolidated Textiles. . . Continental Candy . . . 4 Corn Products Itef. . . . 300 t.oo Cosden ft Co. j Irresponsible Talk Concerning the Approaching Pennsyl vania Dividend Action 23 3014 68 8)4 AW 80 1H T4 s 27 80 si 1)4 76 8 21 06)4 3000 4 Crucible Steel 200 2 Cuban Am Sugar... 100 .. Cuba Arn Sugar pf.. 3700 . Cuban Cane Sugar. . . 4700 7 Cuban Cnne Sugar pf 100 n Delaware ft Hudson. . 200 1 Dome Mines 17H 100 .. Elk Horn Coal 1?K 100 B Endlcott-Johnson .... 88 H 400 7 Endlcott-Johnson pf . . 04W 100 .. Erie 1'54 100 . Erio 1st pf 30 16100 8 Famous Players L ... 80)4 200 .. Flsk Itubber HJ4 100 .. Frceport Texas . ... 1H 12310 . OcnenrI Asphalt 49H 100 B General Asphalt pf... R8 2S00 t General Motors 11 400 7 Oen Motors deb 7.. . 74 100 7 Great Northern pf.... 68)4 100 . . Hmdee ctfs 18 30n l Hupp Motor Car 12)4 30 7 Illinois Central 02H 400 00 lndlohoma lief 3 100 .. Inspiration Con Cop.. 34 100 .. lnterb Con Corp 100 Inter Arrlc Corp pf . . . 37H 4600 ; Int Harvester new. .. 73J4 400 international Nickel.. 14 100 0 Internat Nlcltel pf.... H4 700 . . International Paper . . 63 t.ow 18 K 103)4 87 at i)4 t"V4 no 33)4 3)4 f0)4 11H 20J4 80(4 6l4 88 40 103 117 H8W ll)4 68 08 3S 83 V 3114 T3H 38 31 48 100 11 M4 ii 37)4 4)4 46 100K 73 344 26 60)4 JIN 27)4 40)4 33 )4 64 J4 10K 33 304 64 K HVt 7 80 l)4 084 37 K 68 ")4 76 7H 19)4 96)4 n o4ta 1:80 Net Clo. Cnne- 18 - a Yi .. 103)4- an 88 .. 31 .. 89)4- V, 28)4- IK 1314 H i -. 116 1 34K V 36)4 1W 80)4 Vt 7Mi 14 26J4 H 80)4 07)4 W 88 60 -103 117)4- 8M 99M 1H 98 MH- W 24J4 3H 78)4 1H 38H H 61 )4 401 100 1 HH )4 .. 11 37H IH ns- K 46 - 1 10H- K 73 - i 34tt $4 26 8t)4 41 33J4 64)4 I0H 23 -39)4-84H 814 8)4 1W 80 - 13)4- J4 66 - 27)4- 80H 13)4 78 8 -31 -96)4 17M- 17M 6SH 04 13)4W 18)4 20 47)4 HH 13H 48J4 86 10 74 00)4 18 12 034 3 34 3H 37 U 13M 84 32)4 14 154 H H 30 40 - HJ4 12M- 48H 54 85 II 71 00J4 15 13 034 3 34 3H 83 - 1 -ca 54 154 54 IK 54 flalea 1760 100 100 600 100 200 1O0 100 100 100 100 asooo 200 1100 1 1300 aoo 100 100 100 100 100 100 100 600 aoo loo 100 3100 300 8000 ia.,0 1600 300 100 200 200 1700 100 600 100 100 1560 490 200 100 3.100 700 niv. in't lllrti .. Island Oil 214 .. Kansas City Southern 35J4 4 Kansas City So pf.... 60)4 4 Kclly-Sprtngneld Tire, 37 . . Keystone T ft 11. .... . 13 .. Lackawanna Steel ... 40 .. Locwa Co 10)4 1 Loft Candy 8K 7 Manhattan Elev guar. 40)4 .. Market 8t ny 3J4 . . Marland Oil 14 12 Mexican Petroleum .. 99)4 2 Miami Conner 3114 60 Middle States Corp.. 11)4 .. Mldvale Steel 17J4 .. Missouri Paclflo 30 H .. Missouri PAclfic pf. .. 394 .. Montgomery Ward . .o 17)4 , . Nat Cloak ft Suit. .... 28 0 Nat I'nam ft Stamp,.' 44)4 6 New York Central.... 70)4 4 N Y Shipbuilding 22)4 5 North American 67)4 7 Northern Paclrto 73 .. Okla Prod ft nef 1ft 2 Owens Bottling- 27J4 8 Pacific Gas ft Klec. ... 63 . . PnclnoOlt 3454 .. Pacific Tel ft Tel 40)4 0 Pan-Amer Petrol .... 49 6 Pan-Amer D 48 2 Pennsylvania It It.... 346 .. Peoples Gas Chicago. . 61 .. Penn Seaboard Steel.. 814 Fere Marquetto 30)4 8 Philadelphia Co 20 . . Fierce-Arrow Motor . . 18 J4 . . Plerce-Arrow pf 41 . . Plerco OH 7)4 .. Pittsburgh ft W Va. . . 314 8 Pressed Steel Car.... 71 8 Pullman . ..., 00)4 . . Punta Alcgro Sugar.. 28 4 Pure Oil 20)4 . . Itay Con Copper 124 4 Heading 0 Repub Iron ft Steal... 48)4 303 s.20 ltoyal Dutch N Y 84)4 1 St Joseph Lead 11 .. St Louis San Fran... 24ft .. St Louis Southwest.. 24 . Soars-Hocbuck 64 .74 Shell Transport 404 . Sinclair Oil P0 0 Southern Paclflo 10 . Southern Itall 70)4 7 Stand Oil of N J pf..!00J4 .. Strombcrg Carb 33)4 7 Studobakor , ... 80 H 1 Submarine Boat Corp. 8)4 .. Superior OH Corp 4 . . Tcnn Cop ft Chem. ... 74 8 Texan Co 33)4 1 Texas ft Pao C ft O. . . 10 n Tobacco I'roducln .... 63)4 .. Union Oil 184 10 Union Pacific 120 6 United Drug 83 8 United Fruit 103 ..US Food Products... 17)4 ..US Ind Alcohol 81 .. U 8 Ileftlty ft Imp... 49)4 .. U S C I P ft Fdy 18 ..US Expres 8 . U S Rubber 49 ..US Smelt ft Itef 30 BUS Steel 74 Utah Copper 00 iOO 600 100 12600 100 3000 S!00 800 400 400 ISfiOo 300 100 200 7oO 100 200 100 800 600 100 200 100 400 loo 100 19700 100 10000 400 200 300 100 100 600 100 600 100 100 30 300 200 UtahfSec 8)4 . . Vanadium Corp 20 J4 . . Vlvaudou Inc 0 .. Wabash ?J4 .. Wabash pf A 71 . . Western Maryland . . . 10 .. Western Pacific .... 24)4 7 WeBtcrn Union Tel... 80 4 Westlnghousc E ft M. 44 4 White Motor 32 .. White oil Corp 854 . . Willys-Overland 7 low 3 25 J4 80)4 3054 13 40 1054 J4 4054 354 14 9354 21 11 37J4 3054 39 W4 28 454 7054 3354 87)4 73 in 27J4 53 33 48 "54 41 .14 61 854 90)4 39 19 41 H 37 71 94 28 2654 13 6854 T 854 11 24)4 24 03)4 40 I9f4 "54 2054 106 3354 78 ft 54 1 33)4 19 5354 18 11954 83 103 154 31 49 IS 3 W 30 M 4954 854 28 H 0 7 ft 31 10 34 86 44 31ft Hi 7i 1:80 Net Cloie Chse. 314 54 38ft- 54 5054 54 30)4- 1 13 14 40 354 1054 .. 8ft .. 4054- 1M 3ft .. 14 6854 31)4- 54 H - H 31ft .. 30- 54 39 .. 1754 54 28 - 1 44J4 .. 70)4 2354- 54 37)48154 73)4 Ift- 54 27ft- 1ft 63 31)4 54 4954 54 49 l 43 34 - 51 854 - 54 30)4 54 39 - 154 19J4 ft 41 IH- H 37 54 71 9054 as 354 13- 54 80 ft 48)4 84)4 54 li- 54 3454- H 34-54 0854- ft 40- 3o - 54 7854 .. 3054 100ft 37- ft 80)4 5)4- ft - 54 7 .. 3JJ4 - 54 19 r J3ft- 18- ft 120 83-ft 103 - ' lTft- 81 - 4954 154 18 5 48 -30 -74 54 30 854 . 3054- 6-7ft-31-10 -24 -80 44 37 ft 854 754 H ft 54 154 54 ' 54 Commodity Markets WW Q ten We Offer French 7'i, 1941 at 95 $700,000 will by spent each month for flvo years by J. P Morgan & Co. to buy these bonds In the open market at par or under. VioiNin Bldg. Philadelphia . fifrmltrtPliihMMa on Ntio Yotk Stock rojW nimiTw. tf.t The local marker f-cemed to have suf- I fered a severe attack of mid-summer inertia. Aside from the fairly active i trading in Pennsylvania Hailrond It was j a case of complete stngnatlon. A mar 'ket in the name only. Probably this was to be expected in view of the enn lllcting character of the New York mar j ket on the one hnnd, and the nntural ' tendency to mark time pending the final 1 adjustment of the big local utility ones 1 tions the solution of the Kapld Tran sit problem and the ngreement on some form of relief for the I, f!. I. In order to permit the latter company to con tinue operation of the local gas plant at a profit Instead of an Increasing deficit. For some occult reason Pennsylvania Unliroarl was supplied rather freely, causing that stock to fall back to .14. which mine in for more attention be cause of the firmness of the rails on - the bigger board. There was some Ir responsible tnlk going around concern ing the dividend action, which may have tmrtl.v tceounte(l for the heav mess. Those In position to know are keeping their moutns sunt as tight as the pro verblnl clam. Any discussion of the Mibject nt this time can be -notliinc but conjecture. Possibly it would be nearer the truth to state that the members of the board in reality have not yet fullv made up their minds as to what will be done. The Philadelphia Electric issues re mained firm by reason of the same organized support in face of the ex Wtlnc stagnation. On the other hand. V. O. I., on small deullngs, ensed off to .'11 from .').") as a result of the de layed action on the part of Council on the relief measure. Small amounts of I.ehlgh Navigation were taken at tl-1. Lake Superior held at 7. Electric Storage Ilattery on limited transactions mounted to lOfiVi. equal to last Neck's top mark, likewise the high record of the year. GRAIN MARKET Chicago. July 11. Wheat started V4c to c higher for July: unchanged to i4c better for September and un changed to 'ic lower for Hecemlwr. There was buying curly by a prominent Eastern shipping house nnd thnt lead was followed by locals, with the result that market showed additional strength after the first trades. Receipts In spected Saturday were IDS cars; last year, 10 cars. The cash market was easy, with premiums shaded. Country offerings were light. Seaboard advices are to the effect that there Is a good export demand, but that business is restricted by scarcity of of ferings. Hids for export wheat at the eulf have been advanced. AVenther re nn.io ropoiveil t,o far show somewhat ln,i-. tnmnerntlirPK OVCr the NortllWCBt Sunday, but Indlcnte very little preclpl ,!.. A.-nr nnv nart of the belt. lilllllM ..-. . . , II I Com t-tnrted MtC lower to ys: uignrr for July: Vc to Tic better for Sep tember and ic higher for December. There was general commission house buying in a small way and offerlngr were limited. Oats started '4c higher for all e liverles, with a light trade and with the strength in the other grnlns the chief factor. COTTON MARKET New York. July 11. The cotton market opened active and firm nt fin advance of 12 to 17 points in sympathy with strong cables. Good buying by the trade and "Wall Street was noted. The chief selling on the rise was by the South and for Japanese account. There also was selling by some local operators who were disposed to take profits above the ia-cent level for October. An increase In outside speculative purchasing absorbed the offer ngs and prices made further slight gains after the Initial call. Tim receipts of cotton at the port for the day nre estimated at U.000 bales, against 0727 bales a week ago r.S.-fl half a year ago and 12,00 J bales two years ago STERLINGjT YEAR'S LOW Drop Since Saturday of 3'a Other European Issues Affected New York, July 11. The opening In the foreign exchange market this morn ing disclosed sterling at the lowest point for the year. There hud been a decline since Saturday's close of 3Va. which, sympathetically, affected all of the European Issues. Quotations were : Sterling cables 3.04. demand 3.03 'i ; franc cables 7.77, checks 7.70; Belgian cables 7.03. checka 7.02; lire cables 4.C0, checks 4.55 ', Sw's cobles 10.55, checks 10.02; pesetn cables 12.05. checks 12.03; guilder cables 32.00, checks 31.05; Stockholm cobles 21.35, checks 21.30; Christianiu cables 13.74. checks 13.00; Copenhagen cables 10.20, checks 10.15; marks 1.20. After the first hour there were further declines in all of the major Issues. Sterling cables were 3.02 13-10, do mand 3.02 1-10: franc cables 7.72. checks 7.71 ; Belgian cables 7.50, checks 7.08; lire cables 4.0Uj. checks 4.011; marks, 1.28. The Central European exchanges were: Oreek. 5.00; llumonian. 1.47; Bulgarian, 1.05; Austrian. .15; Poland, .00; Czecho-Slovnklo, 1.31; Jugo slavia, .00. The rote of premium In Montreal to day on New York funds n 14 tier cent. The rate of discount in New York on Canudiun funds was 12 4 per cent. SATl'llDAY'S FINAL QUOTATIONS Financial Briefs Horace O. Maenn. of the nnleii department of floureau & Hvanri has rean Appointed n.nnager of the firm's Pittsburgh office. A ChlcaRt, Heard of Trade membership l,ss been Hold for IS2SO net to buyer, up J .10 from tbo Inst previous eale The avernce price of Industrial ndvnntvrt n.19 p-ir cent on Hal twenty active on fni railroads urdav to (18. M, while, the twenty nuanccu v.od per ceni 10 fi.uv, Iteport of the United Rtate OooIoirlcAl Survey, cov-irlns the period to July 2, tnvoi production of bltumlnoiw -oal us 11)3. :i2n, 000 tons, as against 2O5.0OO.OHO tons for the snme period Inst ear and VK'.'. 000.000 tor 101K, tho joar of the blu war demand. Compured with the average of the last eight years. 1021 Is 41,000,000 tons behind In production. Liverpool Cotton Liverpool. July 11 -There nan a rood de mand for spot cotton today, with prices firm on the basis of nn advance of 20 points for middling at S.lDd. The sales trrc 12.0H0 bales. Ths rocelpts were 15.000 bales, nil American Spot prices were: American, mld dllng fair, 10.78(1: good middling. 0.03d fully middling. ,$s.l3d: middling, s.l.ld, low mid dling. 7 2'M good ordinal- il.Obd. and or dinary i.HM. I A RESTRICTED N CURB SB Specialists Without Orders on Either Side of Market, Interest Lacking Now York, July 11. There was lit tle interest shown In trading on the New York Curb exchange with the be ginning of the new week, dealings being extremely slow, nnd' most of tho Issues thnt often demand nttentlon were Inac tive. Specialists in a largn number of stocks were without orders on either side of the market. Tbo heaviest trading was In Carib Syndicate, about 10,000 shares on that stock changing hands at 4 to 3. Olcn Alden Coal wn traded In during the forenoon at 34 to 34 and North American Pulp new stock sold at 32. Sweets Co. of America wos dull, only one sale being made In the first half of the day nt 3. Retail Candy was also neglected with a trifling amount of business at 0. Southern Coal and Iron was in fair demand, selling at 1. Urltlsh-Ameri-can Tobacco was unchanged nt 12 and n sale of Car Light was reported nt 04. Hercules Powder preferred wos trnded In nt 80. Oil stocks were without spcclnl fea ture and little Interest was shown In thnm Issues. Mnrocalbo was tho most prominent Issue, ranging from 21 to 20. A small amount of business was done in Slmrns Petroleum at 0 and 0. International Petroleum was steady, selling at izy4 nna ujn. Standard Oil issues were In moderate supply, Prairie Oil selling at 407 to 405 and Prairie Pipe Lino nt 177 lo 170. . INDUSTRIALS :" Acme Coal Url, Amr Tnh fOUD Car Llaht 94 Empire Food jjl Olen Atden g5 Hsrcults Powder JO Locomobile JO Perfection Tiro 78 Southern Coal A Iron" Jr flweets Co U S Ship Corp ig U 8 Bteam 2?,- United Ret Candy 6W Willys Corp 50 STANDARD OlMJ Anglo-Amer Oil ,154 Prairie O O JOT Prairie T U 17T Stand Oil of Ind 04 Loir 1& 94 aoji 3Vi 80 TO 1U 28 O'A SO 10W 40,t 175 0414 11:00 A.M. li 94 21 . SVi 80 70 78 lS 10 :k SO 1H 40? INDTCrKNDKNT OILH noone Oil Doston Wyoming Carlb Bind Engineers Tetrol (illllland Oil ... UlenrocK un uranaua Int Petrol Marland Det MarncaiDo Merrltt Oil Mexico Oil 2H (10 4 00 2i 78. ... ......:...... s 12W el Oil Oil 21H 1 8 i :.: 52 Noble 7 "., " Pennok Oil H JH Jft Producer & Refiners SJ4 8H JH Slmrns Pet n "H 25 28 00. 00 SK 80 00 , 2H 2H 78 7H iV. H 12H 12H IH H 20 21 8 8 BO 5S .O 1 Q Kkellv Oil Texorr Victoria Oil new Woodburn y on 4 70 BO 1 10 MlNINfl Alaska Dr Col 40 Dig Ledge 19 Moston & Montana 64 Copper Canyon 1 Divide f-t 20 El lSWW 1? Kureka Holly IS . 1U an Haimlll Ul1de Nevaua upnir N n saing Ophlr Sliver ... Itay Hercules . . Hllver Mines . . . Tonopah Divide United Eastern . 4 Mi IS 24 IH 83 if. 3 .1 75 1 IB 40 IS 4(1 1 20 13 31 lr 14 38 4tt 17 23 Hi S3 if. 40. 10 411 IH 20 l!l 01 IS 15 33 IH 24 1U K8 2,V DONIW Atumtnum 7s JOT. Amer Tob 7s 1021 10O Arr.er Tob 7s 1S22 1U0H Atnfr Tot 11 oo wi iuu-k iu-j; 1923. Amor Tel Qs 1824 is;;: Bat. Today's close open 12.23 12.80 12.03 13 on IS 8 l-50 18.40 13.51 is en ia m I P M. 13 13 13. 81 Investor's Pocket Manual A record of stocks traded In on II exchanges. Over 270 paces of comploto ami eesentlal infor mation and statistics. Bent r on regurjf, MBLTONHEIMCO STOCKS-FOREIGN WOlANOt WJNOS MiMoim ' PHItAOf tPHIA STOCK (XCKANOe. CONSOLI PATJ 0 iTOCK (KKANCy NT 1622 Chestnut Street rbviusi'Ilrll, sproce S041-2-S-4 Kejelonei Uice 78Ui Hues 1137 74 llroildwny 480 8th Ate.. . V. Stamford, Conn. Hprtngfleld, Muss. W Philadelphia Stocks High Low 50 Klec Stor. 105 104 4 I.ak" Sup 7 7 20 I.eh Nnv. (13 03 MI5 Pa It It.. 34 31 1(13 Phlla Klec 214 21, 55 do pref.. 20 20 145 T (J I... 35 34 100tr S Hub 48 4S 1 t 18 Net I" M chrs. 10.-iV.-f-2 7 03 . . 31'i ', 21 '4 . . 20.. 34 48 1 C. S. PA'ITON & CO. iV.i chann made by comparison with lsat sale on Now York Block Eirhange. I'II1I-I)KL1'IIIA UONDH 0000 Liberty s.... 80.38 1000 Liberty 2d 4" 80.1)0 4300 Victory 4h 08.20 1000 Oeneral Asphalt hs 00 2000 Keystone Telephone 1st 5s. 00 5000 Lehigh Nav eons 4s..lofs 85 1000 Lehigh Valley 0 00 W 5000 Phlla Klec 1st 5" lot 81 300 Phlla Elec 1st 5s lots 85 July Octnter He ce?nber . . MsnrUchn. ' ; ; 13'm 13 S4 13.70 NEW YORK COFFEE MARKET New York, July 11. The local oof fee futures market opened steadier this morning, with prices unchanged to 4 points higher. Trading was of fair pro portions. ... . ,, The Influence responsible for the opening advance did not appear to be .... .I...!., defined. Trade Interests were buyers of March nnd, considering the advance In IUo exchange rates, mil rels quotations made a fa rly steady showing. There was nothing in the nctlon of the Urnzlllnn markets, how ever, to indicate that the cold weather reported on Saturday had caused any fear of extensive damage to coming crop prospects, nnd todny's reports showed moderating temperature. The cold snap, which carried mini mum temperatures In one district of Saopulo down to zero, has naturally emphasized the possibility of frost scares between now and the end of August, however, nnd, combined with the promise of continued CJovornment support in primary markets, has ere- fifnrt n IlllfO ITHIM' IIII.IIMH iiM.f.n., Prev Close Open Sterling Francs nrmuna o-!i. '.$ Llm Guilders 4.H7 sa.sv Cables .... 8.07 7 fill 4 00 3'.'.42 TODAY'S OrENINO QUOTATIONS Sterling Frsncs Lire Guilders Demand 8.08U 7.70 4.6(1 H 31.(15 Cables 8.04 7.7T 4,50 82.00 NOON QUOTATIONS sterling Franos Lire Outlders Demand a.OJ T 78& 4.4H Cables 3 OH 7.74'i 4.80 LIVESTOCK QUOTATIONS fhlcago, Julv 11 CATTLR--ltece'pts, 13,000 hoad, llosth 25u higher, vimiI valves steady, half load erllngs. in. 10. Top, handywelgbt steers, tli.fiO, bulk haef eteers, ITWH.SOi bulk, fftt sb stock. t.80il 78, cenners and cutters Jarrely I2W8.23: bulk bologna bulls. 14 7300,28: butcher grades largely S0.0O&0.5O: bulk, veal calves, t'J.75 SMO.aS: stockers sler.dy; feodcrs dull. llCiaS Ilsoelpts 43.000 hesd. Active, 18c big packers buying sparingly. Top. puis, ooiitr grares, u (ofriin its. 2Br up; 110.18, bulk, packing sows tr graces. rVlnor sows, iK.UDHni. rl-t higher: bulk, desirable. 10 78W0.9O, U8WH, rife. 80c to 75c HHEKI IlecelPls 18 000 bend, llesl n. live wooled lambs around slendy, lowei grades, natives, steady to 25- higher, carl top natives, 110.7.1. no Weshrn sold early, sheep steady: best Unht nMlve ees, $5, Pittsburgh. Julv 11 lions Receipts, 8080 bead. Higher. Heijvles. u; heavy workers a nil Pig". 110.T5W11 HIIKBl' ANl IuVMIIH llecelpts, 3300 head Steaify. Top sheep $5 3i; top lanrbs. CALVES Hecelpts, 1800 head. Higher. Top. $12.50. DIVIDENDS DECLARED Swift International On., semi-annual of 8 per cent. psjrpi,Auui. u iui,K,ni rsc 5rd. July ..23. . L. ",.' Minenui ana ocnuyiaiu as registered July 11. p, lltVen nattrosd Co., -aomt-annual 8 psr cent, payaljl July A9 September December farch . , Mar .-- 1.8HT 40 i),7P via T.12A18 7 284T20 0 44 4(43 U.93 T 18 7.83 ICast IIuiThIo 'CQlPt Ippin nrlln N. Y. July 11 CATTLK- Itecolpts. H1BO neaii. ur led, 2 On hlahsr: shlDDlnr steers. JSCS.75. butchers. $T.25ft: arllng. J cow-, .-vy,- -j Sffli. heifers. 50- bulls 14 V5: ti.iQin siocKers feeders, I3(tl 50. fresh cons and springers. 140V 110. Calves, receipts, S(i) head. 5uc Tlt?6s Hecelpts, 14.400 bead Het -steady: light. 25c higher. Heay, 110 50, mixed, JlO 80010.05: vorkers. S 10. OS i 10.75. light york'irs, 810.75011. P-K. 111. roughs. JS. stags, 14.5000. H)It:f:l, AND UMDS Ilccelpts ar.uo ftead. Lambs, II. so lower seurllntc. 80.' iwer. Lambs. IBUll.SO. eirllns, f3.Sn 1S; mixed sheep. I Sir 3 50 MONEY-LENDING RATES NEW YOltK .Monny on call, both classes of collateral, openrd todav nt B'-4 per rent for lending and renewing rmLADKM'HIA Call. 0 per cent: time. 0 por csnti commtrclal paper, three to six months. 0 per cent Note These are merely nominal iunta tlov. tin legal rate of Interest In (he Hlnte nt Pennsylvania bollix filed at a net- csnt. Plus premium and commlss'nn. time monoy z for thirty to ninety days Is loaned at 7 to Tvi per cent, while commercial paper, from thirty to ninety days. Is leaned at 7 to 7H BANK CLEARINGS flank clearings tod.ty comrarel with cor responding day last two years. WSof. 1L710.A90 , M ,,,,, , orK..oi,e".... -..'.. - -- - - P-i.. iu!j. ii Prices litre dull nn the Dsn oii-vKn nmirin today. Three per cent rentes, flil ' nm..,i hr silver was unchsnged In New francs TO centlmesiexchangn on London. 40' ,,;n....- - -,, . . m. An.... ,...!' ranM ST f.numlil n np rent Ann. S3 ri-Mflr-w ' v i. I-. iMw wuiivv. ,.. ;."-.-; ---"--. -. ,-- .--..... ...-.--- ionaon. ine pric w tn snuuuvrio ".! .... a- francs b centimes YoMt today at 00 r.nu. ...rr IUA, isd lower at 86 d, .In per cent, LONDON Money Is iiycted at 4 per cent. Discount ratost Short bills. 4 ier cent! three months' bills, BVi per cent. Prices Dull on Paris Bourse ?fVScm''cfnhtU.y V- ff.W't-?. -V J3 REUNITED BY GREAT WAR Captain French and Wife Happy Although Once Divorced Now York, July 11. Once divorced, lot tlio old spnrk of love rekindled by the World War, Captain nnd Mrs. Hugh Ilonnld French arrived from Knglnnd jesterdoj on the Lapland on a short tisit to this country. Captain French is an Knglish army officer. His wifo is the daughter of Itobert J. Wynne. Post muster General flider President Hoosevelt, and one time American Consul at London Mrs. Wynuo was once n great favorite of the late King Kdwnrd, who pro nounced her ''the most beautiful woman in America." French and Miss Wynne, were mar ried in London in 10011. The Ireautlful American Immediately beenme one of the most popular women in the Knulish social set. Iu 11113 Mrs. French sued her army ofllcer luibband for a ilccice, llo mado no defence, ami the decree was granted. Later the King's Proctor fought tho appllcntion to make the de cree permanent, nnd the originnl decree Mils rescinded. Wlion the war begun Captain French went o the front. Ills wife became a war nurse. During the cnnlllct Cnp tain French was seriously wounded and returned to Knglaml. ills wife lenrned of hU Injuries end hurried hack t his side. She nursed him back t health. Hecmered from his wounds, Cap tain French bnde his wife good-by and went back to the front. When the unnlstlco was signed he returned to the wife who had sought to divorce hlin r.nd the) became the same uiTcctinnntc couple which hnd won prttUe from Kng lloh society during the early days of their marriage. pavemFnts under watch Chamber of Commerce Committee Makes Survey of Street Conditions The (Sood Honds Committee of the Chamber of Commerce has completed u survey of the streets of the city and H1 shortly present its tiudings to Chief Dunlap, of the Ilureati of Highvtajs. Kvery street in the city, no matter how small, was inspected by members of the committee and they were In structed to make a detailed report as to the condition of the thoroughfares. Several conferences have been held recently between the Ooisl Itoads Com mittee and Chief Dunlap, and it was announced that the ('number of Com merce is co-operating with (lie city officials 111 the city's new paving pro gram, The Chamber of Commerce Is alf,o asking for the co-operation of similar organizations in the towns along (he roads that lead Into Philadelphia, The Men is to establish a cood roads cam paign along the lines of traffic leading Into this city. Some of the roads out side the city limits were reported lo he in horrible condition, nnd the local Chamber' of Commerce hns asked out-of-town nrgnnlzntlons to take steps to have those conditions remedied. Anaconda 7s IB-' Anglo-Amer Oil 7 Hath Hteei 7s iu Ufth Steel 7s 1038 Chi Un Bta OVts Cons Uas Ns , , Deere ft Co TMis tlnlenii 7q Uoodr.ch Tire 7s Orand Trunk OVis Gulf Oil 7a Iiumtle oil 7s . . . Interboro Ts . . Ill Central 5 Us frtnnnrrM Tsi . . . Llbby McNeil 7s I'lV. N Y N II & II 4b .. . . B4 biara-Hoebuck 7s ltlll'j UTH Sears-Itoebuck 7s llil'.V... O0H Solvay sa , au Wtand (ill N Y 7s SI ht Sun DOS 02S lpoW . UUtS . 112 H . imt A02K 1 ,100ft 100 . U2U 112 .arc xsa . UO V3 :P5 v I'.l unit. 1IHIU 1004 lOO'l olvay 8s , 9U 9 land till N Y 7s 10S5 . 101X 1011 land 1)1 N Y 7s ili81 . . . .Mitt 104', land Oil N Y 04 s 0UJ4 110" un Oil fla 01t5 111 7 What Are The ' Qualifications . op AGood Executor? An Executor should be honest and financially responsible;. acquainted with (1) the procedure governing decedents' estates, involving the assessment and pay ment of the various succession, inher itance, and'estate taxes; (2) legal documents pertaining thereto; in touch with the securities market and provided with adequate facilities for the safe-keeping of documents and valuables; considerate of the personal side of mat ters 1'n his care, and yet impersonal him self, in order to be scrupulously just. These qualifications are possessed by a corporation specializing in the care of estates. The officers of the Company will be glad at any time to answer other questions on trust and estate matters, Fidelity Trust Company 325 Chestnut St. 143 x Chestnut St. ;jh- $&& pcyr 6324 Woodland Ave., West PhUadelphia Capital 5,200,000 Sk!&tg& Surplus 16,000,000 c Funds held in Trust more than 250,000,000 rJ x';!yyBffTg'-- "s?wTifflET V, nwui IB .... Un Hwy Havana His Vacuum 7h West Elec 7s llerlln 4a nnv. . 112 0 . Mutt lOO'-s ..100 0l-i 11V4 11 LONDON STOCK MARKET U7 Vi Wt. U?4 i-r4 04 04J4 021 lOjAi t liiDH il tliM. T.lji SOS IU 90S VGH llll T ll 74. T7 l7i (IS I , U3. 1)3 I, I mH 8J I (itv. in1; oos doH I'U rssttssaa i 101H i lll( HUH s uiij 0 vmt n no 10(1 '4 1(10 It A BANK that conducts its" own affairs successfully can be depended on to safeguard the interests of its customers. In not one of the fifty-five years of our existence have we failed to add to our surplus and undivided profits. Central National Bank of Philadelphia Chestnut Street at Fifth Capital $1,000,000 Surplus and Undivided Pnfiu Earned $4,400,000 TAX FREE PENNSYLVANIA MUNICIPALS Exempt From All Government Income Tax Home Ralls Dull Oils Irregular. Kaffirs Sag Industrials Steady liondmi, July 11. On further tall; of a reduction In the Hank of Eng land's discount rate, gilt-edged issues ruled II rm and generally higher on the slock exchange today. French loans received good support, bringing about a (inner undertone. Iliislncss In the home rail group was dull and without feature. In sym pathy with New York exchange, dollar securities were hard. Argentine rails were neglected wltll prices holding around previous loraln. In the petroleum dirlston, price movements were Irregular, with Hovnl Dutch lint. Shell Transport and Trad ing was liBH and Mexican Eagle fi. Kaffirs were Inclined to sag on the fall ing off in the output of gold at the Hand lost month and on unfavorable labor figures. Industrials were quiet, but well maintained. Hudson's Hay wah Vi. Hubbers were fairly steady. The attendanro was poor because of continued hot weather nnd the mar kets generally were llstlees. Local Clearings Qlven In Millions In conformity with tbo new practice In some fther larse cities dally bank cloarlmts of Ibe Philadelphia Clearlntr House, htcln nlng today, will be imbllehed only In round millions. Hlmlnatlnir the esact lUurco for hundred thousands, to As the nearest number of ml lions will be taken, the differ ence will not be erem. withholding of exact figures In the isrlous cities resulted from the fact that eomi .outside persons made use of the last thr.-e flgurea In lottery schnnus. Can England Muddle Through? C. W. Barron writes from London the first of several articles on the effect of the coal strike and the shipping slump on England's ability to pay, for his new financial weekly Barron's At principal newa-stands, 20c SPECIAL OFFER You can luive the next six issues mailed to you by exuding One Dollar to Barron's, U Broad St., New York. PHILADELPHIA OFFICE 430 Sansom St. $156,000 Norristown, Montgomery Co., Pa. School 5s DUK JULY 1, 1081, OPTIONAL AFTBn JULY. 1036 Price to yield 5.00 50,000 Upper Darby Twp., Del. Co., Pa. Fund. & Highway 5$ HUE MAY 1, 1001 Price to yield 5.00 62,000 City of Butler, Butler Co., Pa. Main St. Viaduct 5s ' . IIUK JANUARY 1. 1084-35 ' Price to yield 5.00 ; 35,000 Upper Merion Twp., Montgomery Co., Pa. School 5s ' IIUK MARCH 1, 1030-11. OPTIONAL AFTKIl MARCH. 1038 , Price to ylold 5.00 : 90,000 Boro. of Forest Hills, Allegheny Co., Pa. School VAt ' DUK APRIL 1, 100-81 Prlco to ylold 5.00 19,000 Boro. of Bangor, Northampton Co., Pa. Imp. 5s DUE OCTOnr.H 1, 1023-30 Prlco to yield 5.20 Circulars Descriptive of the Above Issues Sent Upon Requeit (VI. tVB. FREEMAN & CO. 421 Chestnut StrOOt Telephone Lombard 0710 Philadelphia , In Buying in Germantown In Building in Germantown In Banking in Germantown "There is a local advantage" Assets 0Ver $12,000,000 Trusts (kept entirely separate) over 22,000,000 CAPITAL $1,000,000 SURPLUS 1,000,000 Canadian National Railways 6i2's 1946 Ounrnntced Principal und Interest by the Dominion nf Cnniidn Yielding 6.80 EDWARD L0WBER STOKES 20 H iBTll'lrVrl,!,"l""J, ""'""We ili . UTU HT, ' jk J l-OCUriT 031S U. G. I. 8h, 1923 ., Central Dist. Tel. Bh. 1943 Pennu. Water & Pr. 5s, 191" P. S. V. CN. J.) 7s. 1922 ufmrv n RnPNNINQ tm bxocit kxc'iiamii; '""I1',?-! Members. I'hjlu. .Mht" """' - . . ; HW J ,viV-. e,CtJ ,- .- Jl , -rf--?,.iv iPUiJtt x'K-.e'.wv-e.ff"'sf-
Significant historical Pennsylvania newspapers