tfi m at ti i.' 5.8 v'S 18 EVENING PUBLIC LEDGERPHILADELPHIA, TUESDAY, JULY 19, 1921 How to figure Interest and Carrying Charges A new book has just been published which clearly ex plains how to figure interest and carrying charges on stock market transactions. A copy of this valuable little book will bo sent to you upon request. Just ask for Edwin E. Kohn &Co. Purcenaora (o KOONTZ & COMPANY Member Consolidated Stock Exehitwe of w York 'SECURITIES 726-28 Widcncr Building Philadelphia Nnr York. Knatoii. rntt.iTllle. Trenton, Wllmlnaton. I'lttaburxli. Direct Private Wire. Connecting i Ofllom MARKET LOTED MUCH BETTER TONE Rails Taken Up on Rumors of Agreement on Fund ing Plans - JL Spruce 8200 BOUGHT SOLD QUOTED United States Government Securities All Issues SECURITIES DEPARTMENT COMMERCIAL TRUST COMPANY Member federal rlcaer-re Syetem City Hall Square Welt Money Works Just the Same In Summer as it does in the fall and winter. Do not let the apathy of the vacation period blind you to the wisdom of at once invest ing available funds. To keep money lying idle for two or three summer months is unnecessary, when one may invest it so easily and so profit ably in Canadian Govern ment, Provincial 'and Municipal Bonds. Write for our Current List of Offerings Wood, Gundy & Co. Incorporated 14 Wall Street, New York Toronto Winnipeg London, Enir. Montreal New York, July ID. While contln ulnjt narrow nnd colorless, today's stock market displayed a generally better tone. One of the more encotirnRliiR develop mrntH wan the shifting of Interest to the rail division. That group wnn taken up around mtddny under the lead of the transcontinental nnd ? ranger roads, with gains rnngirig from motions to over a point. The specula tive specialties commanding foremost attention In the recent sessions con tinued to Hop around in the same er ratic fashion. The better tone of the market came in for more notice by reason of the fur ther weakness in foreign exchange, with the British demand rate making a new low quotation for the year. Tho heavi ness wag communicated to continental exchanges which was again without I ilctlnlto explanation, uuseiung uic dis turbing effect was the plentiful supply lot call money which was freely offered , at 0 per cent, and, according to the street reports, was also freely offered 1 In the outside market at per cent I under official exchange rate. The action of the llouso yesterday In eliminating the proposed duty on crude land fuel oil from the tariff prompted heavy covering of the shorts in the so i called foreign oits at the outset. There j was a sensational rebound of 4i puinti I In Mexican Petroleum. At the same l time Atlantic Gulf nnd West Indies was carried up 1 and General Asphalt 1. There was little change iu the rest of the list nnd all indications pointed to a repetition of the program 'of yesterday and Saturday, with trad ling' ronflned to a handful of highly ma nipulative issues. 1 While these speculative footbnlls can celed the greated part of their gains before the end of tnc nrsi nour iuc ' market, as a whole, exhibited more sta , bility than experienced for Koine few .lays, indications oi wnicu were nmi found iu the growing resistance inani iestcd by the equipment shares, as well as the steel and motor issues. General Clcctric was an exception nnd continued to weaken. The market really made no particular headway until the rails were taken up on tho advices from Washing ton intimating dctintte plans were com pleted for putting the carriers in funds through additional advances on account of adjustment of claims hnnglng over from the period of Government control. The movement was entirely orderly with a notable absence of any spectacu lar upblddiug. which, however, would have been possible, as the bujing move ment, cautious as it was. reflected a ery scant supply, especially among the more hcubOneu representative shares. LOCAL DEALINGS ON SMALL SCALE Bank Reports on General Busi ness Situation Are Much More Encouraging NEW YORK STOCK EXCHANGE TRANSACTIONS OTIS & CO. Stocks Bonds Acceptances Foreign Exchange Member of New York, Cleveland, Boston, Chi cago and Detroit Stock Exchanges, the New York Cotton Exchange and the Chicago Board of Trade. Private wire connections with principal markets of the United States and Canada. 216 Superior Ave., N. E. CLEVELAND Now York Boston Detroit Cincinnati Columbui Toledo Akron Younmtown Dayton Denver Colorado Springs Dealings in the local stocks continued on the same small scale, with inconse quential price changes reflecting an al most complete suspension of outside in terest. When it was said that only two stocks of tho entire list traded in during tho first half of the session totaled a hindrcd shares or moro, some Idea may be obtained of the completeness of the market lethargy. Despite the encouraging Juno state ment of earnings. Philadelphia Rapid TrantJt bhaded to 10?i. while 1 nion Traction was unchanged at 31. V. G. I. was also unchanged. Little interest was manifested iu the hcarlns iu Mayor Moore's office concerning the ordinance, passed by City Council last week, pro viding for an increas.0 in tho gas rato and a surrender by the city of a part of tho money now received from the company's sale of gai. The stockhold ers and rank nnd file were more con cerned as to tho outcome but thi-rc was no fear entertained of the compauy bring denied some sort of relief. The extremely small amount of busi ness trnnnu'tcd In the balance of the local stocks was hardly worthy uf berious consideration. Pennsylvania Itallroud strengthened with the rail movement in New York. It was defi nitely settled today that action on the second quarter dividend will be taken by tho board a week from tomorrow. A much more optimistic feeling pre vailed in banking circles. At the con clusion of the weekly board meetings of most of the principal banks It was freely stated advices concerning the business situation, especially the innnu fnctunng fiid. was better than at any time during the current jear. Improve ment had generally been looked for toward the end of tho sumratr, but there are reliable indications that the turn is coming ahcuil of schedule. Sales too 300 200 200 100 300 100 1200 100 400 400 100 103 1000 700 300 2300 100 900 000 000 200 200 300 13900 700 100 100 30 (ISOO 4200 2600 100 300 200 1300 2.100 600 1800 200 100 100 A00 S00 800 300 100 200 100 100 40 1201 300 400 2 1G00 1100 V.100 500 100 230 1330 100 400 300 200 4200 100 300 BOOO 100 4400 4100 100 00 100 200 100 300 300 100 2311 "3-300 200 230 700 2on 100 200 100 100 SO j no too 100 M Plv. In f Hlth .. Adams Express 4,2ft .. Alaska Gold Mines.... ta 4 Allied Chem & Dye... 3S' 7 Allied Chem & Dye pf . 8SK 4 Allls-Chalmers 30 M .. Am Beet Sugar 21ft 12 Am Car & Fdy 1H .. Am Drug Syn 14 8 Am Kxprtss 110 .. Am Hide & Leather pt S214 .. Am Intcrnat Corp.... SH 7 Am Llnseod pf 00 . . Am Safety Razor 4 .. Am Ship & Com 7y4 .. Am Smelt & Ref 37 H 3 Am Steel Foundries. . 2K 7 Am SugHr Itof OS 7 Am Sugar Kef pf 88ft 5 Am Sumatra 47H 0 Am Tel & Tel 103H 12 Am Tobacco 122 12 Am Tobacco D 122 7 Am Woolen MA .. Anaconda Copper .... 81 H .. Atl Gulf A W I S S.. 21 6 Atch Top & Santa. Fo. 8M 8 Atch Top ft'SFpf.... 78ft .. Atlantic Fruit 20 Atlantic Ronnlnc ....850 7 Bnldwln Locomotive.. 78 ft .. Baltimore A Ohio 38 H S Dcthlehem Steel D.... 47ft 10. Burns Bros 88 .. California Potroleum . 34ft t Cal Zinc A Lead V 10 Canadian Pacific 10Ji .. Central Leather l .. Central Leather pf... 73 H 0 Chandler Motorn .... 40 yi .. Chesapeake A Ohio... 84 .. Chicago A Ot Wost... 7ft . . Chicago A Qt Wost pf . 17 .. Chicago Mil A St P... 20&, .. Chicago Mil A St P pf. 40K .. Chi R 1 A Pac 81 Ji .. Chile Copper 1W .. Coca-Cola 2ft 0 Colum Gas A Elcc. . . ., CS . . Consolidated Dls Ins. . 8U 7 Consolidated Gas .... 8ft .. Consolidated Toxtlles. 15 . . Continental Candy ... 4 Corn Products Ret.... 0SH S.S0 Cosden A Co 27 H 4 Crucible Steel 2 Cuban Am Sugar.... 14 . . Cuban Cano Sugar. ... 8ft 7 Cuban Cane Sugar pf 24 ft .. Denver A Rio Crando H Dome Mines 1H Endleott-Johnson .... lft 7 Endleott-Johnson pf.. 9 .. Erie la .. Erie lBt pf 10ft .. Erie !d pf 8 Famous Players L. .. . 8yi .. Flsk Rubber Uli .. Frceport Texas 12ft . . Genearl Aaphalt soft 0 General Cigar 55ft 8 General Electrio 110 1 General Motors 10ft .. Goodrich B F 30 7 Great Northern pf.... 0 4 Haskell A Barker Car. 54 .. Houston Oil 2ft 7 IlllnolB Central 91ft 00 Indlahoma Ref 3ft .. Inspiration Con Cop . 33 7 Int Harvester new. . .. 74 0 Int Mer Marine pf . . . . 44 .. International Paper .. 52 .. Invincible Oil Corp... 10ft .. Island Oil 2ft .. Kansas City Southern 25 4 Kelly-SprliiBflotd Tiro. 37 .. Kclsey Wheel 5B .. Konnocott Copper ... l'4 .. Lako Erlo & West pf. 20 2 Lee Rubber Tire 27 .50 Lehigh Valley 60 ft . . Loewo Co 1014 1 Loft Candy 0ft 7 Louisville A Nashvlllelll 7 Malllnson & Co pf.... 50H Low 41V H 38ft MK 80 K 8ft "28 110 S3K 33 0 4 ft 37 ft 28 08 88ft 48 H 103 121 W 123 87ft 37 H UK 82 K 78 ft 5 850 74ft 37 H 48 ft 88 34 ft A 100 3H 73 40 84 m 17 35 ft OH 31ft 10 ft 20ft 84ft AH 85ft 14ft H 5ft 37 ft 53 ft 14 ft 0 24 ft 16ft 00 94 13 18 ft 13 40 lift 12 H 49ft 35 ft 117ft 10ft 30 68ft 54 I 53ft 01ft 3 1 33 74 44 50 10 ft 3M 24 37 50 10ft 20 27 60 ft 10ft 111 50 H 1:80 Net Clous' Ch oi H ft .. 18814 88 H 30H 38ft 133M H- 116 52ft 83ft 60 -4 -714 37 ft H 46 103 ft H 121 ft 122 68 37K 20ft &3M ift 78ft .... 6 830 75ft 1 38H 1H 47ft 1 881 34ft 1ft 4ft .. 109 J4 1 371 72ft 2ft ft ft ft ft 3 1 H 1 ft 3 "m ft- ft ft ft IS i ft H 40 - ft 541 m- h is H 20M H 40ft 1ft 31 10ft ft 2ft .. 54ft .. 8ft .. 85ft- ft 15 ft .. 0SJ6 H 27H 1 53ft H 14ft ft 0 24ft ft W- Mi 10 ft . lft IK 94 13ft H ioft H 13ft ft 47 H 1154 V 12 ?i- ft 48W- ft 55ft 3 118 - ft 10ft- ft 30 - ft 03 1 54 52ft ft 01ft . 2ft - ft 33 - ft 74 - ft 44 ft 82ft H 10ft .. 214 .. 25H ft 87 ft 59 - n ft- ft 20-1 27 30ft- ft 10ft ft W 'A in a 60H- 5H Silts too 100' 100 50 19000 200 Dlv. In I Itlth Market St Ry 3Ji ., Market St Ry pr p... 31ft .. Marinnd Oil 1 .. Maxwell Class B 8 It Mexican Petroleum ..105ft t Miami Copper 31 100 1,60 Middle States Corp... UH 100 ., Mldvalo Steel 33 100 ,, Mo Kansas A Texas.. 3 100 ., Missouri Pacific 19ft 00 .. Missouri, Pacific pf... 39 500 ., Montgomery Ward ..e 17V4 200 .. National Acm 14J4 200 . . Nat Cloak A Suit 25 00 7 Nat Cloak A Suit pf . . 58 1100 .. National Con A Cable. 1H 300 o National Lead 76ft 300 .. Nov Con Copper lift 100 s N Y Air Brake 54 100 8 N O Tex A Mcx 50 200 a New York Central..,. 68 100 8 N Y Chi A St L lst.pf. 60 1000 .. New York N II A H.. 18 H if 800 7 Norfolk A Western... 04 1500 7 Northern Pacific 73 300 .. Okla Prod A Ref U4 100 .. Pacific Devel Corp.... Oft 100 8 Pacific Gaa A Eleo.... 52ft 000 . . Pacific Oil 34 H 400 .. Pacific Tel A Tel 61 1500 o Pan-Amor Petrol .... 60ft 300 o Pan-Amer B 4SH 2100 2 Pennsylvania R R. . . . 35ft 200 .. Pooples Gas Chicago . . 60 200 .. Pere Marquotte 18 ft 100 3 Philadelphia Co 29 K l00 .. Phillips-Jones 60 8700 .. Plerce-Arrow Motor . . 18 H 100 n Pierce Oil pf 81 . 200 .. Pittsburgh A W Va. . . 37ft 100 e Pitts A West Va pf... 74 390 8 Pullman 98 200 4 Pure Oil 2596 190 8 Railway Steel Spring-. 81ft 100 .. Rny Con Copper 12ft 100 3.41 Rnnd Mln Am Shares. 1900 200 100 100 1300 8 30 4 Reading 68 . Repub Iron A Steel... 46 . Robert Rels A Co..,.. Oft 7 Rob Rels A Co 1st pf. 50 20 Royal Dutch N Y 62ft 100 l St Joseph Lead 11 J& 400 .. St Louis San Fran... 24ft 100 .. St Louis Southwest.. 23ft 100 .. St Louis Southwest pf 32ft 100 .. Saxon Motor 3tt B?00 .. Sears-Roebuck 06 1000 .. Sinclair Oil 30ft 1600 a Southern Pncino 70ft 200 .. Southern Rail 19ft 200 .. Southern Rwy pf 45ft 100 4 Standard Oil of Cal.. 73 100 . . Stromberg Carb 81 14500 7 Studobaker 81 H 400 0 Superior Steel 30 2100 3 Texas Co 33 100 .. Texas A Pacific 23 100 8 Tobacco Products .... 65 1500 .. Trans Con Oil 7J4 100 .. Union Oil 19 1300 10 Union Paclflo HOW 50o 4 Union Paclflo pf 63 200 8 United Drug 83 100 8 United Fruit 101ft 100 ..US Food Products... 16 ft 13C0 .. U S Ind Alcohol 60ft 3500 8 U S Rubber 30 H 9000 BUS Steel 73ft 100 7USSteclpf e... 103 ft 600 .. Utah Copper : 48 100 .. Vanadium Corp 28H 100 7 Van Raalto 1st pf . . . . 70 300 .. Va-Carollna Chem ... 26ft 200 .. Wabaoh 7ft 100 .. Wabash pf A 21 400 2 Weber & Hellbroner. . 13ft 300 .. Western Paclflo 24 300 7 Westlnghouso A Brako 87 o30o 4 Westlnghouso E A M. 43 ft 200 .. Wheeling ALE 8ft 300 4 Whlto Motor 32 300 .. White oil Corp 7ft HOO .. Willy-Overland 7ft 100 6 Worthington Pump .. 43ft Low 8ft 31ft 14- 8 102 ft 21 10H 33 3 18ft 87ft 17 1 284 57 lft 74 "ft 64 60 08ft 60 17ft 83 ft 73 ft 1ft 8ft 83 ft 34ft 80 48K 43 ft 34ft 60 18 ft as?, 60" 17H 51 27ft 74 08 25 M 81ft lift 30 07 ft 45ft Oft 60 51K lift 33ft 33ft 32ft 3H 65J4 "30 75ft 10 48 ft 73 31 79 H 30 33 ft 28 53 7ft 18 UOft 03 81 101ft 10ft 40 ft 40 K 73 H lOSft 48 ft 29 H 78 2ft 7ft 31 12 ft 24 87 42 ft 8ft 32 7 'ft 42 ft Net ft H lft ft ft H H ft lft ft Closa 8ft aift 14 8-1 102 ft lft 31 10H- ft 23 3 10ft 38 17 -14ft 2K 57 - 1K-7i- 11 H. 84 801 68 H 003 18ft 03ft .. 73H 1H lft .. 53ft 34ft 51 48 43ft 34ft 60 18ft 3ft 60 3Ift 74 -08 35ft 81ft 13 ft 30 68 40 - ft 50 51 llft 24ft 33ft 33 ft 20ft 76ft 10ft 45 ft 73 31 70M 30 -3SH 23 53 -7ft- 10 ft Y 14 lft Y "h 1 ft ft ft 114 ft A 2 "tt ft ft ft ft ft ft H ft K UTILE ACTIVITY .I i i 'Sii. i , - I , f Sj iili,' CURB SUE Trading Position of Loaders Virtually Unchanged. Oils Sluggish New Yorlt, July 10. Tho New lork Curb exchnngo market today was one virtually without action, business being smnll nnd the fluctuations narrow. Glen Alden was comparatively promi nent, although It did not niter Its trad ing position, ranging from 33 to ,Wi. All through the list of stocks, the trading position was virtually un- Sweets Co. of America sold at 214 and 2 nnd United ltctail Candy at (IV4. Acme Packing held nt 1 iind Ui. nnd Acmo Coal sold nt 1 and 1. A sale of D. W. Griffith was made ot 10. Car Light sold at 1 1-10 nnd 1. Tho pctt oleum group showed the same degree of Inaction. Cities Service com mon sold nt 118 to 117 and the Bankers' Shnrcs sold ot 11 to 11. Slrninq Petroleum was quiet nt 0. International Petroleum and Mnracoibo both made moderate advances In the forenoon, but sngged off later. INDUSTRIALS 11:00 Illatn Low A. si. Acms Coal lit, Acmo rackinr nitr r.iht rllii!nTiI 101 Columbia Emerald 80 Com Flnanc b Empire Tootl 2g sail 10 10 211 78 34 4 com '" citt Alden ()oodyir Tlrt I) Orlftlth ... Harden Chm Ptrfectlon Tire Fftraon Auto , PMIIIp MorrU renn .oi Jtnrtio l& intB lnift 3 ft ft 1104 lft 03 ft 83 104 ft I 16ft 73ft 108 ft 48H 38 70 B4 26ft H 7ft ft 21 ft 12ft- ft 241 87 42ft 8ft 32 7 - 7ft 42 ft- ft ft ft lft ; ft ft W "i NEW YORK BOND SALES I8AUE3 IN 1 1000 J Philadelphia Stocks m Depreciated Holdings An Imivtrllnl nnnlyula of eurlttoa that have dcprcclat.il materlal'y In aluo la the only logical meana of detcrmlnlm; what courae ahould ba purauetl In many cnaea. It la not ul vlaable to aoll; In others, fre quent tradlni? often provide craater aafety. Our experienced counael la of fered without obligation to In veatora ttho dealrs mldance WiMNtR Blm. Philadelphia Htm KvA Stock txdxutt HfWYOIK lUHaCTH. N i. 10 Elec Stor.103 103 10 I C N A 17 27 U 20 Lake Sup 74 7 7.") Leh Nov. KWj KH.. 71 Pa It It.. 35 34V. 1 Pnila Ins AVire... SlVi B1V, ,'il PhilaElec 21 21 u do pref.. 20 204 10? ait 84 1:1B 1". M. 103 27A 7K-. as, 35 " Nat chce. Adams Exp 4a 1 02 Am A tt Ch 8a 4 07H Am Acr ft Ca 7 Via reta 2 00 2 00 A b 4 U'K a 2 .... 70 1 (S fl) 7U 1 (a 30) 70U B (B 80) 70H Amn T 4 T &a 1 82 4 83 1 82i Amn T A T 0 71 07 7 07H 71 07H 1 07S 11 .... 07 Am'e Itep'c 3s 1 07H 1 07 Armour 4'4a 1 78H A T ft B F 4 1 78 4 .... 75 AtcJi TopeXa ft 8 Fa cv 4a 1 004 A Coaat L. clt 0 OR'i 1 .... OS Atlantlo Kef's ct flVia 1 ... 100'i 4.... 100V4 Halt ft Ohio r 4 0fl 1 C8. i. ... as Dalt ft O 3'4 8 83H 7 84 Chicago Mil ftl StP cr 44a 3 04V4 1 05 C ft Nwn 04a 1 (a 7) 004 3 00l 1 P04 Chi r.wya ,1a 04U Chi n I ft P M 6H 105 Pli iln UT10 30 Un Trac. 31M 105 U G I... 84 72 West Jer & S... 28 21 '2.. 204 K lO-lI g 81.. 34.. 2S 2S I'HtMDKLTIIIA nONTJS 1000 Victory 4-iJs 1023 5000 Hell Telephone 7s , 5000 Hell Telephone 7s , 4000 Pennsylvania OV-s , 1000 T'nitcd Hnllways 4s 1000 Wclsbach 5s 03.20 103 OS 35 05 V a ft oswn a'i 1 704 Halt ft Ohio Ai 4 R84 1 88 I) A O Tol 4 1 84 Brkyn B T Bi 2 .... IS 0 23 Uuah Dld'K St 1... . 75 IJukh Ter'm r.a 1.. . 714 Canadian Nt'n, 04a wl 6. 8. 8.. 2.. 1.. 1. F074 90 00 00 0014 06 1 W A livB 1 1 1 I bmLS i tCtflfTw ---- Are you at cose regarding the Investments you now hold? BUY THE HIGH GRADE RAILROAD BONDS. Old Railroad Issues aro espe cially attractive at this time. MARTIN & CO. Xun WALNUT ST. Philadelphia MONEY-LENDING RATES NKW VOUK Money on call, both claaiea Canadian N U 2.... 101 H 8.... 101 1.... 1014 J53JJ ' Canada 8'n B. 1 ... n-i Cen I of oa 0a 4. . . 80S Cll Leather Ba a ... 8 Ctl Factflo let of collateral euened toduy for icndlni and renewing. at 0 per cent VIIILAnRU'IlIA Call, a per canti time. 0 rer cent; commercial paper, three to lx month., n per cent. Note Theae aro merely nominal quota tlona. the leral rate ot Intereat In the Mate of Pennsylvania being- nxed at 0 per cent. I'lua rremlum and oommlaHlon, time money for thirty to ninety days la loaned at 7 to per cent, wnne commercial paper, from v to ninety daya la loaned at 7 to 7 U jr cent. 7 4 thfrty to RAILROAD EARNING8 CANADIAN PACIFIC HAILWAT IP21 Increaaa cond week July .... JS.807,000 t4n7.uOO inuary 1-July 14.... 63,115.000 'O.OS2.000 Icreua BAR SILVER unchanged In London to- Bar allver waa day at 37 d Today's Range In Liberty Bonds Liberty .1Vj .. Liberty 1st 4 Us. Liberty 2d -i. Liberty 8d 4Uh., Liberty 1th iA. Vic Notes .. Vlo Notes 4s. . Illah 80.(18 87.2(1 87.00 01.08 87.10 08.32 08.32 80.50 87.20 80,00 01.02 87.10 08.28 ai.co l P M, 80.04 87.20 h7,00 01.08 87.10 08.28 08.30 1. l. 2. 23. 20. 1. C K 1. 60 004 004 00 00 P 41 71 714 ... :: ... 71 ... 714 ... 714 ... 714 N Jay 8a ... 03 C ft Ohio 44" 8 734 Cht ft Alt 34" 1 34 C II ft Q 04a IIS 4 . . 00 .. 08 .. 00 .. 08 .. 684 .. 00 . . 00 .. 08 .. 08 .. 08 .. 00 . 08 . II8T1 .. 084 Erie lat .. 70 ft O W 4 R 40 Chicago Mil ft Rt V it '25 3 76 .... ..... .... .. 2. 7 B 1 B 1 1. e t 0 2 1 2 B B 4 Chi 1 Chi 4 I..'.'. 3.... c n i l Chicago Union Sta ct 64a 1.... 1034 Chile Copr 0a 1 .... 71 1 72 fhlle Cop'r 7 1 ... 034 Chlneai Goe t Hu-IC Ry Ba 1 4rt City of Dergen 6a rcta 1 004 2 004 City Berne 8 2 08 1 .... 084 1 08H :ity Dord'x 0a 2 .... 80 2.... SOU 1 804 cty Chrla'a s' 1 .... 074 2 . . . . 07 4 1 074 'lty ot Copen. hacen 6 4a 1 70 3 70U 1 704 1 76 City Lyons 0a 2 804 2 804 N Tit 4s Bli 4 80 rity Paris 0 1 .... 00 6 ... 00 IB City Zurich 8a 2... P0 2 (a 0) 00 1 004 Cl'd Cln Chi St Loula 0s 1 874 Colo ft 8 44a 1 74 Cona'd Oaa 7a 1.... 101 Cuban A 8 fit . 07 . 074 . 074 C 8 . 02 . 02 . 02 . 02 4 . 024 . 624 . 024 . 024 . 02 . 63 . 08 . 08 . 034 . 03 . 03 . 03 . 034 . 03 . 03 Hud fd . 77 . 70 .. 77 704 Con Do Canada '20 . 014 Do Canada 'SI 1 .... 88 ,D Vt Nemoura Pwd'r 74 1 07 2 07 4 07 E T V ft O en 2 83 Erie f.tnl Lien 1 .... 114 1 42 1 424 Erie n R ov D 1 414 Erla lty Co 4 a 1 84 S 34 bena'l Elec Ba 1 SO GooUyar Tire ft Itubr as 1... . 004 2 004 2 0j a. ... 004 8 004 Govs' t Trench II 74a rets 2 B 8 Gova't V 1... 8... i-ubun 17... 20... B... 1... B... 8... 2... 7... 1... 15... 8.., 2... 1... 1... 3... n... B.., 1... 2... Del ft S 1 2 7 Denmark ct A 1 Denmark ct II 8a IB.. 8.. 0.. 1.. 1.. 1.. 1.. 2 , 1.. 3. P5 03 95 II da 00 no on on 004 on OP on 4 oo 084 oo Q Nth Rly 7a 1 04 4. a.. l i. i"! 3.. 3.. t S . B . 2 . 1.. 1.. 1 . 1.. 1.. 4.. Hud 2.. 3.. 80 Con 7 09 7 00 1 004 1.... 00 Pen ft It O f.) 4 80 Dea Molnea A VI Dodge 4a 1 43 Den tnaii 3,.... 03 1 03 l esu . 08 . 0S4 . P8 . 081'. . 084 . 0S4 . 08 . PS . OhH . P14 . P4 . 9S . U4 . 0e tiM, . 084 . 08 08 Man fd . 004 . 004 . 004 Hud ft Man In 3 404 B 404 III Central fd I.... 74 3 784 111 Ctn'l 4i 33 2 .01 111 Cent'l 14a 1 .. M4 1 .. 80 4 Ilia Steel 44a 3 70 Indl'a Steel Ba 4 80 Int M ct 44 1 12 Intboro R T M 0 344 0 .... 34 1 B5 Iowa Cent I 4a 2. ... R0 Jap Oove't lat 1 84 Kan C A fi 8s 2 BS4 1. ... 60 4 B. ... 50 1 BOH Kelly Hprlng'd Tiro Co B 1 04U 3 04 1 044 B 04 3 04 K Delg'tn 7 4a 1.... 100 1 ... 100 1 . . 100 I . 100 1 ... 100 K nalg"m rcta Kingdom Den-i mark ct 8a 3.. 1.. 1. 3.. 1.. 3.. 2.. 100 100 100 100 1004 100 100 2 70 B 70 Penna RIlli 1 84 Pcnna Rd 04 K'm Italy 04t 1 89 Kingdom Nor way ct 8s 102 103 103 103 103 103 1.. 40.. 8.. O i'.'. i.. Lack Steel 'SO 1 71 L Sh M S 34 l... 07 Lor. ma T 4a l..h'?. 70 Lou ft Naah 4i B 814 MUt St Ry lat 4 .... OPT. 4 00 Men Tetr'm 8a 2 044 2 04 1 .... 04 1 04 Mil ft St L 4a B 40 Mo K ft T 4a 1 00 Mu Pacific 4a 1 B3 4 S3 1 32 1 83 Ntl Tube C 3a 3 OHi N V Centl 34a 14 034 N Tf Cen 44" 774 1... 3... 1... 1... l'.'.'. 2... 3. 08 08 08 OR PB li 8 08 OS Penna R R "a 1 78 3 78 South' n Rly 4a 3 30 2 30 1 60 South' n Rly 8 1 82 Stand'd Oil ot Callf'a 7s 1.... 103 3 103 1 103 Hwlti'il Con 8a 1.... 1.... 1.... 1.... 8.... 3.... 1.... 4... 103 102 1024 102 102 1034 103 1024 3.. a . 4.. New 1.. 1.. 1.. 1.. 4.. . 774 . 77 Ctl 8s . 00 . 00 . 00 . 00 004 Peoplea Gaa 1 ft C Co Ba 1 72 Peoria ft E Ut 1 fl4 rhll County c 3 004 Reading Ry 19 1 74 1 734 Rep Chile rcU 1 00 S 00 1 00 20 004 0 00 1 00 Rec'c C 0a '"4 2 70 Rock ll'd A a Lout'a 4 4 1 604 2.. .. 0 1 00 St L I'n Mt ft Hn Rly 4a 1 70 St L I'n Mt 4 H'n Rwy B 3 8 St L I Mt ft S R A O dv 4a New Yk Ctl 7S 1.. 2 . 1 . 8.. 1.. 1.. 101 101 101 100 101 101 New T N II ft H'd 4. 'S3 1 41 New YNH4 II 4a of 08 1 40 New York O ft Weitn 4a 1 70 N York State Rlywa 4 4a 8 834 N Y Tele 4 4a 1 .... 804 I .... 804 N Yk Tele Oa 1 024 2 02 4 02 North Wo'n n Tale 7 2.. 1.. 8.. 8.. 4.. 1.. 8. 1.. 8 . 6.. B.. 1.. 1004 1004 1004 100 100 100 100 100 100 HlOf 100 100 ft s s 2. St I. 2 1. 3. St L ft 2. 6. 8 B. 1. 2. 1. St L ft H Fran Series A 1 004 1 00 1 00 St I. ft 8 Fran Scrlea II 1 724 Bt V ft S Frar Serlea C 03 l' J OO' 00 00 V In 83 V. 834 84 84 814 33 84 1.. .. 2 . 8 Bt L 1 . 0. tt 14.. 1 null) 0t 4 00 00 00 004 094 N Pacific R 4 j 2 78 3 7B B 78 4 7B N Paclflo It 0a 0 00 1 00 Nth 8 PWr Ba 3 78 1 70 Org 4 Calf Ba 1 80 Taa O ft K 3" 1 78 0 .... 78 1 7 Tac T A T Ba 2 844 Pa n am 44s, .... 70 l BJ 79 . .. 87, ... 874 . .. 88 87 4 How'n en ... o: ... 02 fit Pl A Sloui City 7a 1 02 Sao PauIo of riraill ct 8 2.. . 03'. 1 03 Seab'd A L 3.. .. 20 1... . 23 1 .... !B Seab'd A 1. 0- I.... 47 4 Sclota Vat'y 4 N IS lat 2 744 Sinclair C Oil Corp'n 74a 1.. 1.. 1.. 1.. 8.. 1.. B. '103 103 1084 103 1064 1034 103 Third Ave al 31 Third Ave 4a 1 4D iTIdewater Oil Co ct 0a 6 05 Union Pac cv 8. ... 77 1 .... 77 Union Pac fd 73 Union Pac 4a 2 80 2... 3... 8. 8 1... 1... 4... 1... 3... t'nlon Pac Oi 2 . . . 00 1 00 1 00 t: K of G Ilrlt ft I'd 1021 1 ... 00.15 3 ... 00 13 I' K of a Drlt ft I'd 1022 10 .... 08 1 .... P8 1 08 V K ot O Hrll ft I'd 1920 3 . .. 88 1 88 V K of G Hrlt & I d 1037 80 f0 80 80 80 60 Vi M 804 804 1 . 3 . 5 . 3 . 1 . 1.. a. 80 80 80 89 68 80 80 U 8 Ilraall 8a 1 08 3 08 1 08 3 084 1.... P8 I (a 7) 084 1 P7' 1 PS 8 08 1 (Bill IIN' 2 P8 1.... 08 4 084 I P8 1 08 B 08 U B Mexico la 1. 1. 8 6 I' 8 2 A' i 8 8 2 1 1 1 1 1 S'n Boll 3 . . S'n Paclflo fd 1 7t 1 74 1 74 Bo'n Po ev 4 t T8H1 01 01 01 00 00 00 00 00 00 00 T 8i 81 COTTON MARKET Now lorlc, .luly 10. Steadiness at Hie opening of tho cotton market thiu mornlntr, when prices were generally 4 to 7 points higher, was boned on firm cables, a forecast for showery weather over the belt, nnd local, Wall street nnd Liverpool buylruf. Spot houses and New Orleans, sold moderately and the list was nbnut steady, bavlnc lost al. of its enrly jjnln under this pres sure. There nlso was scattered selling by room traders. Receipts at the ports for the dnv are estimated ut 25,000 bales, against 23, 010 bales a week ogo, 8135 bales a year ago nnd 20,530 bales two years ago. Test. none Swift International Kueetn Ca U fl Ship Carp Hr u 3 sienm , United Profit Sharing ... ly United Ret Candy .... Union Carbide Atlantic Loboa Prairie o ft u Jttmn rtnvnltv Arkanana Nat Oaa Boone un Rotton Wyoming Carlb Synd ........... 1,'lliea service toiai . . . Cltlos Service "li ctfa cuah rer ret Elk tlaaln Pet Federal Oil .. nunrnrk Oil . Hudson Oil ?3 int retroi . . . Mararalho Oil MrHtf fill . . MrMn 14 Mexico Oil 73 12 410 y ' I jn T 'inn i i r" ' ' i mi i'n Ti rTTTTTTT. iT-i I J Oil N J ek l'roa Caledonia Mining Cortei Sller CreMon Gold Divide Bxt 111 Pahmlor Cureki Croesus noli? Urel .... Qolrlfleld Florence Maraiii Heel July 12.20 October 12.70 December 18 14 January .Marcn . May . . . uia. 13.10 IS 43 Todty'a ontn 12.20 12 74 13 17 13 17 13 43 13.80 U A.M. 12.74 13.14 13 10 13.48 334 ... 38 ... 83 . . 83 Rub'r Ba . . 78 IT S Rub 7 4a 1 ... P0 2.,.. 100 1 ... 100 U'd S Steol Ba 1 03 1 044 11 08 Utah A N'n Ba 1 01 V-C Chem lat 2 004 Va-C Ch 74a 1.. .. 804 2 00 1.. .. no Weat'n Ml 4a 1 ... IS2 Wn Paclflo 1st 1 . .. 774 1 .... 774 4. .. 77 1 78 W A E MfK 7. 1.... 1004 1.... 1004 flKt GRAIN MARKET Chicago, duly 10. Wheat started c lower lor .luly; Vac to -ic lower for September nnd -lie' to lc lower for De cember. Trade was light with selling by houses with Northwestern connec tions and locals influenced by estimates of 700 cars receipts. Seaboard nouses wcro on tho buying; side. Receipts in sj)ec,ted yesterday were 817 cars; Inst year, a cars. The cash market was easier, but rela tivoly firm with futures, most of tho large arrivals applying ou old contract. Local millers were fair buyers and ex porters took 150.000 bushels here, with 750.000 bushels to 1.000.000 bushels worked nt seaboard since Saturdny Italns were quite general over tho Western part of the bolt for the twenty- I...., .lln. n. Inn. nlf.1i. IUUI UUMIO UIIU1,I lib I I'lilb JllglJl, Omaha lending with 1.40 inches nnu down State points averaging nn Inch. Corn stnrtod Vic lower for September nnd Vic to c lower for Dccembei. Trade was raodorate nnd mixed with commission houses on both sides. Oats started V4c to c lower for Sentembcr and V&c to c lower for December. Scattered selling was under wny nt the start, out the marltet tlis plaed n tendency to a strong undor ton'e. NEW YORK COFFEE MARKET Now Yorlt. July 10. The curly offi cial cable showed colder weather In Sao l'nulo, ranging from 82 to 40, but this seemed to have little or no effect on local rcntiment nnd prices on tho open ing call of the coffee futures mnrltct were 2 points lower, with transactions contlned to n fow lots of March nt 7.11 nnd nt 7.10. Toward mlddny Importers were sell ing the Mnrcii nnd May position. March i-elllng off to 7.0(1 and May to 7.21, or 5 to 0 points net lower. Home thought this might Indicate an easier Brazil situation. On tho whole, however, the market continued to be a dull affair. Tho stock of mild coffee in the United States on July 18 was 073,238 bags, compared with 002,010 bags on July 11, and 781,804 n year ngo. Arrivals at all ports since July 1 were 143,048 bags and deliveries 110,730 bags. I'rev rloo Open Remember O.OHfino 0.3OJM0 becomber njosisn fl.70'TM VaVeh I...!: I 1181? I.O'i W? May 1 ' iu iu in in 24 24 78 78 84 84 . . ;;? i A 2 24 10 io 20 20 V 1 IS 0 04 nt 424 424 424 STANDARD OILS . 13 12 12 .410 410 410 INUBPRNDRNT OILS 7 7 7 II. 04 0 .0 f ...20 10 10 I : ...02 01 (12 ... 4 4 4 . ...US 117.. 117.. I) ... 114 11 11 ...10 10 10 I ... 8 8 6 ... I. 1 l'.i I ...08 DO P4 11 25 23 f III 1U.1 iVt JV III 204 104 -04 I 74 74 74 13 13 I 73 75 'oil OS 05 08 2 2 2 111 02 02 02 in 35 33 35 1: 57 8. 87 I : 23 23 1 X (1.1 00 ' 111 l i I 111 37 30 30 77 77 77 1 1 1 II n "a 53 111 ;;; 14 14 14 44 33 42 I ; 1 -1 ; 32 32 32 : 1J 13 13 1 4 4 4 111 54 24 II 21) 20 I I 12 12 51 81 I 1A lAl 10 10 . I I H- UT' 1,1 14, 1A 1A :...: 2 -i 2 2S 28 28 Ml ; 1 1 1 11 bonus . OUrtSUPEIV . . 08 os ps spnvirp ,. PB4 P04 HrtH : wUWM-i. .. 02 02 03 I : '.-' ;: SJl'4 !!1 S8'4 ; A Losses Paid In .R!f ,8S ,& : AmencttnCurrency ..103 1034 10354 h ..ions 100 100 J : .. 11)04 100 IOii'.j I ; ..101 101 101 I ) : PH 08 IS I 03 93 ! : Ot 04 04 1 II. 04 P84 ("Mi ' I : ON 08 118 it H4 "4 0114 lt jq jg g)t l. II..IIII H"M 101 101 101 Iu 102 102 102 Z. - 10S 1034 1U3 103 101 103 1004 00 pn . Ill 01 01 ,----.-..----- UT OT fIT 004 1104 0'i4 I i 1004 iniiiJ. I t MOV, 100 I .1 AT . in a nn Business Convalescence Today, no matter where you go, manufac turers and wholesalers tell you that the crisis in their commercial affairs has been passed. Their business may not be big enough to boast about; but it is steadily getting better Folks aren't talking so much; they're get ting to work. Business men arc finding and creating new markets for thcirgoods. Their salesmen arc really selling. Everybody is plugging ; business is indeed on the up grade. What's more, prudent executives, while concentrating their efforts en sales, arc taking protective measures to insure payment on those salesl They are realizing that in any emer gency of credit accounts, there is nothing so strong or so safe as the American's Policy of Credit Insurance, which guarantees to prevent, else pay, bad debt losses beyond the normal. Full particulars free upon request. Paymtnts to Policy holdtrs ewr $10,000,000.00 AMERICAN CREDIT-INDEMNITY CO. Of NEW YORK E. M. TREAT, president I1SUIS STANDARD UNUMITIO roUClIO W. J. Morphy, Manager J. F. MacFaddcn, General Agent 1011 Chestnut St, Philadelphia, Pa. Phone, Filbert 650! Nntlonal OI S.i It ere Klmmn ret IVxon Wilcox Woodburn MINING Alnsk.l Br Columbia. Arl.nn. T'Af.irnnliL ...... me IJae 24 Iloaton A Montana 03 ronper canyorr u.tl. flnlnfr Howe Sound 24 Jerome Vedo -0 McKIn Uar la Nntlonil Tin Srf Silver Mines , Silver llllln or Kov '" Tonopan 1JIM00 Tonopah Mlnlns United naatorn Went Utah ... Wllhart Amr Tel flu 1022 Amer Tel fla 1021..... Anaconda 7 1020.... Analo-Amer 74a .... Armour 7a Ileth Steel 7 108S... Can Nat llwy 7a .... Chi Un Hta04 ( f.na una re . . . . . Copper Export 8a 1023 i iiuiir Uxu'irt Ha 108 Ilelnz Co 7a Ill Central 04 a I.lbbyMcNelll 7 Nat Cloak 8i f-oara-noehuck 7a aerlpt. Reara-Itoebuck 7a 1022 . Pnlvav 8 Southweat Dell 7a Maml (III N V 7 1023.. 8tand Oil N Y 7a 1028 . Hearol Oil N Y 7a 105n . 8tand Oil N Y 7 1030... Stand Oil N T 04a Sun Oil 8 Hnlft Co 7a Iwiia I'n 7a Vacuum Oil 7a 10nV U'.ilrrn ICIinc 7a 1QQM bles 84 Mtf DONT WAIT TILL IT'S UP TO THE COLLECTION AGENCY WHEN one of your debtors has failed, it's too late to realize much, if any thing, on your loss. It's like digging In the ruins after the fire. The only positive way to protect your business against excess loss by debtors' failures, is to Insure your debtor accounts with a "LONDON" Credit Insurance Policy prior to failure. Then, if you have losses covered by our policy you ore sure of getting the amount due you within forty-five days, whether your debtor ever pays us in part, or not at all. "LONDON" Credit Insurance Is not a fiop e or a promise It's an advance guarantee. From present indications of business, the sooner you protect your debtor accounts with a "LONDON" Credit Insurance Policy, the better. Ask for our repre sentative to call. There's no obligation. at voua SERVICE j4iifi2'wjEiiVi?)Av Established Eighteen Six tnine LONDON GUARANTEE AND ACCIDENT COMPANY LTD. R. A. IRVING, General Adtnt Crtdlt Insurance Department ' Stokes, Packard, liaushton & Smith, Managers All other casualty Ilnti. Bell rhone-Lombard 4190 434 Walnut St. Ktritone-Mtln 41M i Mini rail ". IU' I n 11W13 7.Q'lWl2 ..lOiffil 7.28032 FOREIGN EXCHANGE New Yorlt, .Inly 10. Thcru wn nu irregular tone to the foreign exrlmiiRe market nt the opening today. Sterling showed fractional betterment, while i francs were easier. Llro mndo a slight ndvancc, but Swiss francs and jrullders were offered downward. Tho Scandi navians wero llrra. Tho quotations follow: Sterllusf cables ii.ftOH, demand 3.58 i franc cables 7.70, checks 7.74 ; KelRtan cables 7.55, checks 7.54; lire cables 4.40, chocks 4.40; Swiss cables 10.45, checks 10.42; peseta cnblcs 12.88; rhecks 12.80: guildd' cables .'11.58, checks 31.53; Stockholm cables 20.00, checks 20.80 ; Chrlstlanla cables 12.00. checks 12.85; Oopenliaci'ii cables 15.15, checks 15.10; markn, 1.20. Central European exchanges were: Greek, 5.50; Ilumanlan, 1.30; Hul fcariiin, .SS; Austrian, .13; Polish, .05; Czcrho-Slovnkia, 1.20; Jugo slavia, .03. Tho rate of premiums In Montrenl today on New York funds was 13 per cent. The rato of discount In New York on Canadian funds was 12 per , cent. j YE8TEnnAYS FINAL QUOTATIONS I Sterllns Ifranen Lire Gulltlere Demand 3 BtH 7.78 4.4R R1.A2 Cablet 8.(104 7.76 4.40 JI1.08 TODAY' n OPHNINQ QUOTATIONS Sterling- Tranca Lire Qulldera i Demand S.884 7.74 4.40 81,63 . Cable 8.804 7.73 4.404 31.88 M0 like all other habits, is easy to form and hard to brelk. In ono year's time the total of your savinjjB account will convince you of the ease with which substantial sums can be accumulated. North Philadelphia Trust Co. Broad St. and Germantown Ave. Above Erie Ave., Philadelphia Financial Briefs rtertmonil A Co. announce thvt William L. Htrnul of Philadelphia, and Irranl n. Lome, at llrldieton. N, J., have become neaocialeil with them In their bond department. The averare price ot the twenty active In iluMrlal atorlia advanocd .43 per cent yeater (My In 07 87 while the twenty rallroada ad. vanced .07 per cent to 70.70. The customary armouncement In advance of dlvldond action by the Pennsylvania Itall. road la made aa followai "The dlrectora nt the Panniylvanla Itallroad will meet July 27. Any quarterly dividend which may bo declared will be payable Auruet 81 a. res' latrred Auguet 1. National bank notea outatandln. July IB. t7.44.7I7 44i Federal Keeene Danfc note, SI I, UNO 4110. For tho woelt ended July in, iHtl'imil onl( notes decreaaod 13,800,440! Federal Iteserve Hank notes decrcaaea J(,. iiilii.OOll BALDWIN LOCOMOTIVES FOR CONTINUOUS SERVICE There are many Baldwin Locomotives that havo been in con tinuous service since they were built, thirty, forty or even fifty years ago. This has been posoiblo because of our ability to promptly furnish duplicate and repair parts which are guaranteed to fit without further machining. This service is at the command of every railway. The Baldwin Locomotive Works Philadelphia The Outlook for Sears Roebuck seems to have given a great deal of concern to many stockholders. Our circular PL-430 discusses the present financial condition of the company. Copies free.. WALTER J. SCHMIDT & CO. Members Consolidated Stock Exchange of New York Philadelphia: 1323 Walnut Street Plionea Ilell, Walnut 4000 Kryalon. Itace 87J1 New York: 30 Broad Street 310 Fifth Avenuo WUX baa uo Invtator aver lotl a deUu of principal or tnteettl on any mi rlty boujlTt of B, W. Blraua & Co.T Writ, for our booklet "! nnd learn the nu S. W. STRAUS & CO. (Hock Kith no re Tilde.. Philadelphia STROUD & CO. BOND SALESMEN Investment house wau ' several lilgli-grade Bond W men. niusi o- ci' , lmvn A.1 references. Coll U32 Wldener BWf; " m A M. and 2 ?'' twern 10 A. M t V 4 " J "v fcl '' I r r B . , . tZ1T,1iR'' Hi
Significant historical Pennsylvania newspapers