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EVENING PUMJO LBDGERHlfiAliELPfilA, -THtfltfebAf , " JULY 21;" lM
W
-l.
fa'
w
V
K
p.-
Service and Stability
When You
Buy a Property
you will And It a great
advantage to have your
title Insured by a Com
pany which takes a per
sonal interest in its
clients.
Our Title Department
has recently been greatly
enlarged. With our added
room and facilities wo
are able to offer you
prompt and courteous
service.
Integrity
Trust Company
Fourth and Green Streets
Capital
Surplus ft Profit
. $500,000
.$1,760,000
PRICES DROOP IN
T
STAGNAN
WEI
Favorable Influence of Reduced
Discounts Offset by Discour
aging Washington Advices
We offer, subject to prior tale
25 Phila. Electric
6 Notes
Due February 1, 1922
At 99
Salomon Bros. & Hutzler
.Vembera ,Vru Vork Slock Kzthangt
Commercial Trust Bldg.
Philadelphia, Pa.
Telephone. Spruce 7.1DI
NEW TORIC
KO.'TC;
yngggssgggugggoragsf
SELECTED
SECURITIES
JTHIS month's issue of
y- "Cassntt Offerings"
is now ready for dis
tribution. In it you will find a
carefully selected list
of securities which we
recommend for the in
vestment of your
funds.
Kindly ask far
Circular K-l)
CASSATT V CO.
COMMERCIAL TRUST BLDG.
PHILADELPHIA
twvo
BMJlMOei- PITT SOU BOM - SCRAKItM
New York. .1uly21. Omnluht de
velopments were of n distinctly con
structive type, but instead of respond
ing to these potential factors In the
economic ultuntlon the market sunk
deeper Into the mire of innctlvity.
Trading was even duller than the re
cent session and the market, as a
whole, did not possess the same degree
of stability. On the contrary, with the
further contraction In the volume of
ricallngi there was a distinct drooping
ot prices, in scattering parts or the
list pronounced weakneis prevailed.
None of the channes. however, possessed
any particular significance, other than
to further emphasize the narrowing
limitations of the trading area.
Measured by the further reduction In
discount rates, those in control of the
financial arteries here and in Great
Ilrltaln nrc apparently satisfied with
the progress made In the liquidating nnd
deflation of extended credits. The sim
ultaneous discount rate reductions by
the federal Kcserve Hanks nnd the
Hank of Kngland may be accepted as
conclusive testimony of things generally
getting back to normal. The nank of
Rnglaud minimum discount rato was
reduced from 0 to fiVi per cent. The
higher rate brim maintained since June
23. The reduction, announced after
the closing yesterday by the Itaston,
New York, rhilndelnhln nnd San Fran
cisco Vederal Reserve Banks In dis
counts on all classes of paper to 11
per cent marked the third reduction
during the current year and brings the
rate back to a half-way point between
the high nnd low of recent years.
An offsetting Influence posnibly was
found In the news from Washington In
dicating It will be some months before
any legislation on either the tax or tariff
bills will be accomplished. It Is be
ginning to look as if nothing actually
will be accomplished before late in the
fall. Supplementing this wet blnnkct
on the hopes of nn early revision of
taxes came the reported statement by
Senator Penrose that he does not look
for any radical cluinge In the tax situ
ation. Additional restricting influences
were contributed in the unfavorable
earnings reported for the second quar
ter by the Republican Iron nnd Steel
Co. The big dellcit, however, was gen
erally expected, being clearly foreshad
owed not only by the knowledge of the
low ebb of the steel industry, but also
la the recent poor showing made for
the same period by the I.ncknwnnnn
Steel Co. Another adverse influence.
particularly affecting the Mexican oil
group, wis the reports of fires in the
Ainatlan oil fields In Mexico.
Following desultory covering of the
..horts at the opening, the market lapsed
into extreme dullness during the morn
ing. An idea of the stagnation can
be appreciated from the fact that the
first hour's sales, usually the busv
period of the day. fell consldernblv be'
low 100,000 Hlmres. The foreign oils,
which were henry at the outset, sus.
tiiincd further losses. .Mexican Petro
leum. Pan-American, (ieneral Asphalt
and Roynl Dutch declined one to two
point". The sleel shnres mid motor ac
cessories, including the rubber Issues,
continued to one. Clinnges nmong the
rnils were irregularly divided between
fractional gains nnd looses.
The drooping tendency of prices at
tracted more attention in view of the
eusicr money market conditions. Call
money reflected the lower discount rate
with the renewal rate tixed nt .". per
cent, against the recent 0 per" pent
tnte.. Foreign exchange continued unsettled.
NEW YORK STOCK EXCHANGE TRANSACTIONS
3
flwffir
OILS
and the
MEXICAN
PRICES UNCHANGED
IN LOCAL MARKET
Hopes of Easier Money Con
ditions Strengthened by
Discount Reduction
satis
to
ISO
t
ISO
tilt
10ft
too
SOS
to
too
100
son
700
300
100
00
(100
4600
400
1S00
100
100
7(10
300
ADO
asno
"HO
lion
100
MO
400
1100
100
too
100
100
inn
410
3IS0
too
700
3130
700
too
100
310
400
3100
100
400
8S0O
100
.103
lino
301
1400
300
too
1700
.too :
3100
100
400
300
100
100
4100
.100
400
3490
100
4S0O
3000
1400
100
too
too
100
too
310
300
400
100
300
100
1300
390
100
400
300
son
lto
100
too
390
100
83
eft
3i
30
07 14
H
Dlr.
" Irish
. . Adams RxpresB 4
7 Allied Chem A Dy pf. MJ4
4 Allli-Chalmra it
7 Allls-Chnlmsra pf .... 73,
.. Am Bosch Magneto... ssfc
It Am Car A Fily 1MK
.. Am Drug Syn 4H
.. Am Hlda ft Leather pf sift
Am Ion iejt
.. Am Intemnt Corp.... Hi
1 Ain-I France IOaw. ..
Am Locomotive
. . Am Safety rtaxor
. . Am Ship ft Com
. Am Smelt ft nf
3 Am Steel Foundries...
7 Am Sugar nf
8 Am Sumatra. ....
0 Am Tel A Tel 104
1 Am Tobacco 1S3K
1 Am Woolen 60
.. Annconda Copper .... 37W
6 Asso Dry Goods 1st pf 63 J4
6 Atch Top A Bantn. Fo. 83
8 Atch Top ft S F pf . . . . 7814
.. Atlantlo Fruit
.. Atl Oulf ft W t 8 8.. 31J4
7 Atlantic Refining pf..lUK
7 Baldwin Teomotlve.. 78V4
7 Baldwin Loco pf 07
.. Baltimore A Ohio 3(
4 Baltimore A Ohio pf . . 81
8 nethlehem Steal U.... ti
.. Itrklyn Tl T ctfs of dop 6H
. . Butte Copper A Zinc. . 414
6 California Packing; .. 87 J4
. . C'nso 4V4
3 Cnl Zinc A Lead J4
10 Canadian Pacific lto
.. Central Leather 30K
.. Central Leather pf... 71
.. Cerro de Pasco 24J4
8 Chandler Motor .... 40
.. ChtcaRO A Gt West... 714
.. Chlcaero ft Gt West pr. 17
.. Chtcngo Mil ft St T... 30J4
. . Chicago Mil A St P pf . 4014
7 Clik A Northwest pf. . . 07J4
. . Chi Tt I A Pnc 33
7 Chi B I A Pac 7 pf. 74
.. Chile Coppor 1014
. . Coca-Cola 30
3 Colorado Fuel ft Iron. 3814
0 Colum Gas ft Elec... J54
. . Col Grnphophone .... 4 J4
4 Comp Tab Records... 31
. . Continental Candy ... K
.. Consolidated DIs Ins.. S
.. Consolidated Textiles. 14U
4 Com Products Ref.... 68
i.SO Cosden A Co 37J4
4 Crucible Rteel 44 14
7 Crucible Steel pf 83
t Cuhnn Am Sugar.... 1414
. . Cuban Cane Sugar. ... 0J4
1 Cuban Cane Sugar pf . 34
. . Denver A Rio Grande J4
8 Rndlcott-Johnson .... f&H
.. Krla 1314
.. Erie 1st pf 1114
8 Famous Players L. .. . 474
.. Flsk Rubber 1114
.. Genearl Asphalt 48 H
5 General Hlectrlc 13014
1 General Motors 10
7 Gen Motors deb 7 . . . 74
.. Goodrich B F 30
Gulf Mobile & Nor 7
1 Hupp Motor Car UT-4
7 Illinois Central 03
to Indlahoma Ref ....... 314
.. Interb Con Corp 3
.. Inspiration Con Cop.. 38
.. Intr Con Corp pf. ... 10H
.. Internat Agrlcul 7
.. Inter ArtIc Corp pf. . . 3714
7 Int Harvester new. . .. 74
s Int Mer Marine pf. . .. 45 H,
. International Nickel.. 13?i
.. International Paper .. 314
.. Invincible Oil Corp... l!b
.. Island Oil 3
. . Jewel Tea
.Terwel Tea pf 27
8 Kayser A Co 73
. Kansas City Southern 24
.. Kennccott Copper ... lt'A
43
8SJ4
aiH
73
31J4
1314
H
43
46
S3Ht
t i
83 K
4
38 H
36
87 H
46U
103 K
H114
6814
3714
314
as
7814
414
3014
104 H
7H
07
38 V
40 Ji
4014
es
414
47T4
!4
!4
10H
36
71 H,
48Ji
714
17'4
3814
40'4
714
31H
74
10H
2 V
384
4414
414
274
814
14H
60
27
rs
83
"'
0
'26
A3
13J4
114
46)4
11 K
48
H8
io H
74
30
7
1174
214
214
H
3814
10H
74
37(4
13
4814
1374
43
1014
24
37
731
214
J4
1:86"
CIo
43
88)4
31J4
3
14 ..
1414 14
4 W
V
MJ4 114
3314- 1
8H H
J4
-
8H
36 774,
103H i
mi4
814
7J4
-7314
474-
31 -
Nt
Cat.
14
14
H
H
H
'n
14
il4
H
104U 1H
'A
iy4-
7
3814-
4074-
4614-
094
44 774
414
414
lo74-
38 -1IM-24
48J4-
714
114
3014 ..
40)4
0714 14
3174- 14
7414
10H- n
30)4 U4
2014
8
14)4
66 -2774-48
H -83
14 U -
14
24
74
3)4
H)i-
48H-11HH-
10)4 -
74
30 -
7 -
1174-
214
2)4
?i
74
-48)4
10)4-
37 -73
h
24 )i
1)4
BU, in $
X 300 .. Keystone T A R...
jo . . Laokawanna Steel
a. 80 Lenigh Valloy
JUewe Co .
1 Loft Candr
13 Lorlllard Tobacco
100
too
100
200
100
300
too
310
340
11100
300
600
100
zoo
38
400
100
too
100
aioo
300
100
Mtlth
.. "14
i. 37)4
.. l W
.. 10)4
.. OK
146
7 LoulsvlllA & N'ahvllllt3
4 Mackny Co pf 84
lo Mnnatl Sugar ....... 40
., Market St Ry 4
. . Marland Oil M
8 May Dept Store..... 80
It Mexican Petroleum ..103)4
8 Miami Copper 81
l.0 Middle States Corp... 10H
.. MIdvalo Steel 3374
. . Minn A St Louis 11)4
7 Minn St P A B St Me. 67)4
., Missouri Paclflo 20
.. Missouri Paclftt pf... SH
. . .National Acme ,
6 National Lead
. . Nev Con Copper. .....
B New York Central....
.. NewTork C of St L. .
a w TCnl A St Llst.pf.
a
Or!.so New York Dock.
V
V
')4
14
V
1)4
8
14
)4
14
14;
14
Hi1
l!
1
14
4
14
14
")4
!4
tH
)4
14
14
14
14
1'A
300
300
800
100
800
100
too
' 100
100
6700
1400
too
400
1800
100
3.10
200
1300
100
100
300
too
310
too
100
100
3100
3000
18)4
74 W
10)4
70)4
50
83
)4
10
04J4
73
Low
II
87)4
61 V4
10)4
H
146
113
64
40
4
14
80
inlW
31
10)4
"74
"14
714
1074
304
14)4
74)4
10)4
70
40
6S
214
M
4
1314
54
- 1
-
Norfolk A Southern.
7 Norfolk A Western.
7 Northern Paclflo . . .
1.80 Nunally Co
.. Otta Steel 10)i 10)4
t Owens Bottling 3874 2874
i . jmciiic uevei uorp. .
I 3 Pacific Gas A Rice.
' . . Pacific Oil
n Pan-Amor Petrol . .
o Pan-Amr B
.. Parish A Bingham.
3 Pennsylvania R R. .
' . . Penn Seaboard Steel
. . Pere Marquette . . .
3 PhlladelDhla Co
.. Phillips Pet
. . Plerce-Arrow Motor
.. rieroe-Arrow Df ..
8 Pierce Oil of 81
6 Pitts Coal 8
.. Pittsburgh A W Va... 37)4
8 Pullman 90)4
.. Punta Alegre Sugar.. 28(4
4 Pure Oil 2474
.. Ray Con Copper 12)4
iteaamg OHJf
814
83
34 H
48)4
41
10
34)4
54
1014
274
17
17K
37H
Repub Iron A Steel.
3200 8.30 Royal Dutch N Y.
200
100
100
100
100
700
300
1400
300
300
100
100
500
100
30700
200
1490
100
100
100
100
300
2100
100
100
500
3(00
13100
1100
1500
100
100
100
700
35
100
000
100
100
100
700
8t Louis San Fran..
St Louis Southwest.
Savage Arms
Seaboard Air Line pf.
4474
43 H
24
34)
10)4
014
Sears-Roebuck 6
37
3054
70 1 '2
20)4
46
S3
133
lOftfi
.74 Shell Transport
.. Sinclair Oil
6 Southern Pacific! . . .
.. Southern Rail
. . Southern Rwv pf . . .
Standard Mill
8 Standard Oil of N J.
7 Stnnd Oil of N J nf
3 Stowart Warner Speed 24 54
7 Studebaker 7BH
1 Sub'.narlno Boat Corp. 4)4
3 Texas Co 334
.. Texas ft Paclfio 2274
1 Texas A Pac C A O... 18).,
8 Tobacco Products ... 60
.. Trans Con Oil 7ft
.. Union Oil in
10 Union Pacific 118
4 Union Pacific pf 03
8 United Fruit 105
8 United Retail Stores.. 54
8 U S Rubber 51 ls
BUS Steel 7374
7 U 3 Steel pf 10)4
.. Utah Copper 48)4
.. Utah Sec 9
. . Wabash 8
.. Wabush pf A 21 X
3 Weber ft Hellbroner. . 101
7 Westlnghouse A Brake 80J4
.. Wheeling A L E pf . . . 10J4
.. Whlto oil Corp 7$
.. Willy-Overland 1)i
. Willys-Overland pf . . . 20
8 Woolwortli F W Ill
.. Wright Aero 7Jj
8)4
53
84 H
46
41
10
38
14
3074
17
tlH
37
61
64)4
27)4
0)4
28)4
3674
12)4
67H
44J4
50)4
24
24 H
10)4
r)4
60
37 tf
30)4
)
20
46
03
133
loe;
34)4
714
414
33 54
2274
18)4
66
18
11"H
63
105
43 H
50 !4
7S)4
103)4
47)4
4
H
31J
10)4
8674
16)4
7H
7)4
19
HI
7H
1:80 Net
Clot Chs.
11 -
37J4
H
140
119
54
40
4
14
80
103
31
10)4-"74-11)4
7)4
174 3H
15)4
75)4
80
63
t)4
M
4)4 73)4
14
1014-
2874 1)4
8)4- 1
r.v
.14K-
47 ,
41 -
10
38
0
17
17-
37H
41
54)4
1354
07 i-
44)4-
14
74
H
H
14
H
V
H
S4
tM
8
54
)4
14
)4
14
'A
14
3
t)4
")4
H
V
14
")4
54
1H
14
H
n
a
y
New York Curb
1NDU8TBIAL8
Aem Coal .
Brit Atnr Tot) coup.
u
Low
lain Motor . .
Celluloid tret
vir idem ..i. it
Columbia Rmerala
. . t . . .
. .
11:60
A. M.
It
SS 88
70 in
Ill.h
,." TJw i.v
, OS.. 88.. OB
tu
r.s '
7S.
.... S74 37V4 2714
n
1
in
50)4- 2)4
24 - H
24H J4
10)4 14
14- )4
54
1T - !4
20)4 54
76)4- )4
20 - J4
40 )4
03 - 1
133
too - 14
2454- 54
77J4- l-H
414- 14
3.1)4
J4 - A
18)4
60 . H
'H - 54
19 - 54
H8
63 H
105 4- 1
4 74
5014- H
52)4- 74
094 .
48 - 54
OH f- IK
tlH f- 14
10)4- 1H
8674- 54
inn- 7i
'H- V
V 54
29-1
111 N
7K ..
NEW YORK BOND TRANSACTIONS
Am a 4: Ch Be
a ... s
Am Air C
T4 rem
1 n A
s . on4
A b . II J "'
1. 70i
B . 70S
1 .. 7,
I . 70H
Amn
8
16
S
4
!
1
23
8
B
1
0
DOiiCum TITIi
SO'. 1 78H
09
B4
!I0
no'
0!.
09 ;
1)9 H
ft T ell Chi O W 4s
. 76'i 2 . . BO
II
The effect of the
Placintj of oil on the
free list, and its rela
tion marketwise on the
domestic and foreign
oil securities, is dis
cussed in a special let
ter we have just issued.
Snf free on request.
ffCJM8!E&CO.
I.it'le liinnKi ta marie In prices in
"e Im-al murker In the fin,t place
I'leir was ver.v little done The
''1'iairfj nf the iiinrltit was more pro
iMiuined tlian ever, which was to be
rpecte, in view of the virtual suspen--Ion
of animation in the trading on the
bic board.
J Considerable confusion existed con
cerning the local gas situation. Instead
nf provoking apprehension nnd nervous
j ns. the rank nnd file apparently
I adopted the nttitude of suspending
I judgment and were content to sit still
! and see what would turn up. This at
'ait. was siiKSPhted in the relatively
-t adiuess of the stock, which held at
"I. unclinnjred from eterday's final
il'iiitatlouK, nnd nUo In the small
'imniint of dealing" Jn the stock.
he
Denmark Con
ct A 8
1 100
1. . HOT.
100
1 ... mmi
1 . loot,
1. 100H
OOH'nonmnrk Con
ct D 8a
8.. . 100
i. .. 100
10O
s .... osui raoinc mraainr ny 4 U Tank C 7
jiua a n in l navi i .. 7S- 2 . . inov
1
1
13
1
20
40'i
40
40 H
40 H
40H
Mrirhrrk I'hlli. M."!. rr ,n I
L1418 S Penn Square I ""litis was entirely pe
sviti: iiii I "'tiiiK' Pennsvlvanln II
rwcf: oth3 nCK ts 1 l'hiludelphia Klcotric is
if-f Ufirto.Vn 1'o.a ... :"'tlins roiuprihi'il sinnll
oli I'ltur.ial Mn I n ' -hilllin continued tlrm
j riil iisiir;iucp of the mn
" mJ 4 iier cent dividend. I'll
1.. .. 70 2. ... B0
Amn T T B Chlcoeo Mil
5 SS'l St P J 4s
6 ... SB 9 87 U
3 S8 Chicago Mil 4
Atnn T T 0t 8tP cv44i
1 08 1 S5K
8 n8 Chlcanu Mil I H85.
2 0BIStPtd4Hl 3.. . 034
1 8i' 0 .. . S0;lDrt Tun I 4'is
B ... (ini"hlcao Mil , B .. 77
1 u8'i S"t I v B' D Malcii 7'is
1 . OSI 4S . M 1 1034
-inour 4W Vw" 'I'jSi 1 10,'l'n
B 7fci4 I 100 ll ('Hnada '21)
1 . 78"; 'hl tt Iwsn ; f. 92
H Kn 4s 3 Ofl-B i 2 . . U1S
III Ctn'l 4s 'B3
. 2 00K
III Cent'l BHa
' 1 00U
I B 00 H
I Ills atl 4'i.
1. ... 76
HI C I, 4 N
Den i 11 O (il I O Jt U1 fi
1... . UK 1 7S
Dtn It O 4s I Info Met 4H
2.. .. 03S 1 18U
8. (13 W Int M ct 4Hs
4.. . 13J
Intboro I T f d
2 . . 83 H 1 74
4. 03',! z. . 74 I
Mo Ie n 20i 23 74 I
2 ka Itn thiu rt I
Mont'n Pwr na
1... . 84',
Niahllle t'hat
A Ht I. B.
2... . S2'i
N Y Cenfl 4
8.. .. 77
Sxvr Yk Ctl ila
1..
1..
18..
1..
1..
3.
UO'i
nn,
IH13 I
no.
no h '
uos i
no. '
WOH I
UKotO llrlt
t, I'd 1021
1 . 00 IB
1 00. 17.'
U K of (1 Hrltl
A I'd 1U22
0 SOU
U H llrazll Hqj
1 .
1.
1)4
04
Empire food
Olsn Aldan . .
Heritor Chem
Nations! Leather 7 7
N J Zlno 110! 110
reflection lire , ,
Iladlo Com ......
IUdlo Com pret
Sweets Co ......
Tob Prort Tap . . .
II B L t II
U B It A 11 oref.
U S flhlp Corp , SO
u a Hteam 4R
united I'ront Bharlnr
United Het Candv . .
Warns Loal
Willys Corp B0
BTANDAHD OILS
Anslo-Amer Oil IS IB IS
Atlantlo IJbos 12H 12 12K
Ohio Oil ( 240 340 '240
Uucknya I 1. 80 80 SO
Stand Oil ot Ind 07 U 68'i 0l)7i
so
14
k
zs
8T.
, 8
B0 00
T
111)
2i
48
1
0
1;
B0
Allied Oil
Allied Oil new . .
lioone on
Huston Wyoming
usrm arnq ......
Cities hervles (old)
,uie nervico "jr
11nn no
Elk llaaln et .
federal Ull
Uranada
Hudson Oil
Int l'otrol ,
Mnracalbo Oil ...
Merldan ,
Mexic-o oil
National Oil N J
North Arner Oil ,
Slmnra I'et
Hkelly Oil
Texon
Victoria Oil new .
INDEPENDENT OILS
4
ctfs.
.. 23
:: i
OTe
28 .
20
.... i
;
4
?H
03
14
'I
11
20
14
74
H
4
23
10
03
II fit B
o
4B
on
40
MINING
Arizona PattfoAia
uK teat
lloalon
lie
A
Montana OH
Caledonia Mlnlnc
Copper Canyon HI
cortex uiirer .. tii
Divide Kxt ...25
KI Hslvndor 24
lureka Croesus no
ClolilHeld Florence 82
nee a .Minir ia
Jerome Verde 20
Kerr Lake 3
Marsh Mining 4
National Tin n
Nevada Ophlr 81
.Nevada Hllvrr Horn s
Nlplaslnir 4U
HlUer Mines 1,1,
Hllver Hills NaT 17
Tonopah Divide 70
wnite caps n
Wllbert 1
I10ND8
Allied Packer 6a 42Ti
Amer Tel (la l'J24 07
Arner Tel fls 1B22 0St4
Anncumla On 87H
Anaconda 7a 1020 VSVi
Armour 7s ""
uarnida II Ha kH
Ilethlehcm atrol 7s 103.1.. U4TI
Canadian Pacific fls . . . . 07 Vi
Can N'at Itv eo 7s 100
Chic Un Bta OHs 101K
cons uai ss
Conner Export Ha 1022 . .
Copper Expert Ss 102S .
Galena 7s
Goodrich Tiro 7s
Grand Trunk flits ..
Oulf Oil 7s
Mumble uii 7s
Interboro 7s
Illinois Cent OHs
I.lbbv McNeill 7s
I.lEgett A Myers 8s. . .
Hears-Uoe'jutk 7s
Prors-noebuck Is 1022.
Hears-Itnebuck 7s 1023 .
Hi.lny 8
Southern Ily 7s
.Southwest Uell 7
H () N V 7h 10211
H O N Y 7s 1BS0
H o N V 7s 1031
M O N Y UV4 ID"
Swift 7s 07,
West Va H s lunH
Swiss 34 8IH
42U
07
V0H
, 04jT
07H
11)0
1031.
ioo, mo! looVi
SOS
or.
NEW ISSUE
" ' mm mmmmm mm-l
1031f
103U
104H
100
117 H
IIVJi
07H
lfioH
84H
Commodity Markets
0 Et L I'n Mt A
00 ; Hn niy 4s
0(1 8 . . 70S,
III St I. I'n Mt A
01 i H'n Itvry ns
01 3 .. S8 .
1
3
1
16
1.
1
1..
08 Vi
08 7
PS'i
HIS
B8H
OS'v
H1K
... US',
... WM4
.. . UNI,
.. UN,
ts 0) 09 lk
... H8'4
3
ATA
10
0...
2
4...
7 .
1...
0...
1
78
70
78
7fl
76i
Chi ltT)s fi
6 . 114 U
Chi HUP fd
B .. 08K
1 .. . 60
7 8 .. flOS
7t; 1 ... 00H
70S B .. H
Aleh'Topeka A C n I A P 4s
O Ko ov 4a 1. 71
2 09 Chicago Ht P'l
i Coast I. clt M A O fls
4 .. 0HH 1 iu 'l 7,
A C Line '.t 1. 1 CT U Hta 4S", 3 V7S
1 734 2 ... fcO'ilDua l.lKht C
4 73'j thlraKo I'nlon 1 iiOV,
Atl c Krult 7s Hta ct O'-is iKrle Hi nl l.ten
2 33 I . lua-, l IJ'i
loivik C'nt'l 4
10 .... S8
3 . . . 89
Do Canada '31 8 . 39
7... . 8814 .2 ..89
B. . . S8H ' Jap Clove' t 1st
8... . 88U 1 S4H
Dom Rep'a 3s 3 ... 844
1... . 8HJ ' Jsp Oo't 2nd
D Ds Nemours I .. . 84 1i
Pwd'r 714s Jap Ooven't 4
1... . 07'4 1 7) 0014
1. 07 1 00S
1 .. . 074 1 .... flOVi
1. . 07 Kan CtHti
OlVSt I. A S I
Now Yk Ctl 7, 1 nu
Bt BSH 3 . . 101't.St I. A S K In ,
3... . B.Vi 1 . lOlU, ft .... .14
o .. .is v, n y re 4's , .-,iiH
1 BSH 1 .. SI 04 It.
1 . SI St I. & Kian ,
1 SO1. . S-rln A
B . SO',1 3 .. C1U !
4 (s 80) KO', 01 4
S (i2 i n . dm
Nov Y W C ISt LAS Pran
noat 4Hs Herles II
U K ill O llrlt
A I'd 1029
1 . .8!)
2 . . XII
1 .. . IfHsiUl'.l Kys Im't
1 . . 88 Comp'y 3s i
1 8S 4 ... 03'.
V K of 11 llrlt V H nubb'r 7
I'd 1037 I 1 ... i,7 a;1
J. ,
4 .
1..
OBiilutah P A I, 3s
0814 1.. .70
0SH Vii-C Chem C
US', I ... SOU
N vo-o Ch 7', a
1. . HI
Wnbaeh It Is.
2 . .. R(l
1. .. 83
NVs'n lllec Ss
2 90'
Wn I'sciflo 1st
1 78H
West Shorn 4a
1 71
W A E MfK 7s
B.
OH',
HO
"S4
OSS
OS '4
US',
or-
Hold yourinvestmontslnthn
same high esteem In which
you hold your life insurance.
BUY THE HIGH GRADE
RAILROAD BONDS.
Old Railroad Issues are espe-
dally attractive at this time.
Martin & Qo.
1411 WALNUT ST.
PHELADELPHIA
i "HalHIiMiiHIIIBl II MMWIil.IL
Customers' Man
IVuntril liy mi mtalillkliril liounr,
rxprrlriiretl only, prefernl.ly nr
Willi u kjhIii fiillov, lux. lu Hie
rlclit in nil tliU Is nn rarHlrnt up
porlnnlty. Iteplles held In strict.
est ronlltlrnrr, ,lililrva
A ioi, i.i:i)(.Kit ori'iri;
A Young Man's Experience,
Education r.r.d Enthiuiafm
r op a w jr
Vmii'- iu" n .11 1 'efllte nlillltt in r
ill li v li lilvii- eiiirttlani elnen
rer' c urlntr n ll n't ts uf biiil,.
tnif 'li''. win i - on I III innerr.i
'lirrfrr ulr lnilutil 11 ofltrliiK Kie.itrr
jiurt s.lt fin 'ill', nrriiirnt th.tu lie now
anir.
irii' iifi'iprrcti roni'itrii tin' Miini
Vitiiiz'il support. Iiulil.ii;: nt L'lJ'v.
llii- .cililrt.i.ii u thf ilNi'ii.irit r.iti-
li nil '':iMc. of piipi-r of ull mntuii-
8E5rTsaa '"' ''' l' Iit.If l.hl PiMlcml U..in
j I'-niilt .l ri ;nn!r'. n lilcltl) ieiiiil,mit.
li iiImo i.orv.-ii tn strnetliPn lii'lln' m
I tin- rpi'cnt pri'.lii'tion. of f nsli r moni'.v
i iniirltp; i on'lit toriK in I lie lntr,r purr
iir tin. .it i lent iimmiIi The itsniilh
I i i"iv., Jnh IS ili'.ttii.-Piiii'nts of Intrr
I ami ilit'liliiiii, loRpthtT with lln
In 'K1' iwrmafiit williilri.unK. v f re
l 'inji nri"i mi, mi -nn- n.i i.'i n ti
iipnlii In tli ''i -ill imiiii'v iniirkct.
j 'im mII llii Irrirer in-tiliitions nrn a
l -i'iniri5 m inn 'h moip liberal nttilinic
, imvn'il lunn txti'HMoiii un'l rpnewnb.
Itnpilfpii.piitk nf ipRiilm ciihtiTrners tire
, l.i mt; "iitltlit'il v, ltiiout (IIOkhIu, iui
j ittiipli ftiiiil ni lieiriK "ilip!leI to tnn't
j n'l (lrmnwlft In L'lii'f. Ini atinoN
! i lii'i'i i iii-tii i-l'v i'Iim'i fn!
j CHICAGO BANK CLOSED
Michigan Avenue Trust Co. Under
I Examination by State Officials
flilraco. .Inly l'1.-Tli.' MlW.icnn
' Ml'lltll' Tlltlllf C'l I'loiCll tlllH
i iiwunliiR In Slnti' ImiiiI; viimlnfri. An'
1 " nniimilloii of t lir l.oolti vni linnir- ,
"tnfi'l- stnrtrtl. It miv tnliti threr or,
I fmir ila.", ollif'iil" nqIiI. Tliey (lis- ,
r'nimi'tl nil) Itnowii'dRC of u MlinrtBRi- In
'lie haul;' nffonnt, nnd h:ii tin- ex-
umiitation wns only lontlno."
roBltlor Clnrrnce A Ilentfl snld he
nt'W no it'usoii for the nctlon of thu ;
Stnti' liniilt pxainlnrrH. The fonnh h
hittiuti'd In tliti heart of "automobile!
row" anil ItM ilpposllori inrludnl both '
iiinnttKt'rH nnd mechnnlr'H from rntuiy
I r.iitomolipp hhopf. An ho'ir nftcr thn
unfit t of idiiM.ni; wits pn.teil, nrnny oni
' 'Hiilml dopiHl' i h. ino-t'v from nrarnv
1 .irinjo". vi'ri' Riithi'it'il in f ri nt nf I lie
' .Ift tlltioll
20 a
b . . S3
l . 33
A'lRntlc lief a
.! fi'-is
7 100 .
1 1001,
100
1
104
Cupr li
n
rhiii
20
i 7H'i:r.
flty ot Mereen' l,
lis rets 1
t 90 -1
1 07 ' 3
4.''i
4'J
4S'i
H i ii 4h
M'
34 l
lOOU '"lt l:ern Ss
i loos ' r. . us,
Ila.t A Onln v I . H8"j
r 08'. I . OHS
;ena 1 Kl.' r.s
, i fcil
I Ml'.
1 . hOl.
II. ,t 4 Ohio l 3
7 . 118 I
) . (1H i (I . ,
Halt A Ohio r. "tt Pord x (!)
.! . TO'i ' '-' ovi
1 ,, . 71 1 . 0i
Its It Oh ii Ualritv or Cnpen.
81 80 I hwn IH,"
111 89 1 . . . 77
10 V.i 12 T7
II ii 1' I li 1 77'
2 . Ot 8 . 77
Hell T.li'ph.in j 7ll't
of Ta 71 iritv Lions rt'
1 l03', 1 80V,
2 1 01i City Mr fl'
Kiln 'on M ill 2 . SO 'a
3 82l' N VU 4 '.Mi,
jmn I 'li l 7s 1 liOi
1 08 i"ltj" Prls il'
1 . H',
lluali Hill' isl
1 T6
Canadian Nt'n
ni.s Hi ,
pn.
l)0'
UBS, 1
08", .Goody T re
A Hub r In
HUH
OH1-,
Oil l4
fc'X,
p'l ,
. '.in
' t I'rencti
i II 7',s rct
3 . . P3
'.' fi
fime t K U h'
1 76
a.. . 7Bi
1 . 73 V,
K C T Rl' 4s
3 7Ui
1 71
'.' . . -on
Kelly HprltiR'd
Tiro Co 8s
3 114 U
IMS I
a i4'4
3 30 H
N'k Ho'n It 3a
3 41
Nfk A Wn 4a
I... 711',
North IVe'n 111
Telo'n 7s !
6
1
7JH
72'i
73
73
73
78
73
ran
1.
0.
3..
3.
loo ;
100'4
101
mo;
100 '4
i no Tt
r.i ....... . .--
f-n i h nun 7i, j jQi
s,;!" 3. . mn i 1 ioot,
" 1.. . H9", .Wllaon Co ev
si". 1 ... 100 ' 1 78
M1',L-'! S fiiefl Bi Wilson Co 1st
1..
i
fl
8ii,
80
04',
0I,
04 "t
H4 I
3 . . 83',
W C Hup ft I)
dv
1.
30
1
101 '4 st I. & S
Hit1, Seilen C
101 S . S8 I
101 St P I Kan C i
Ull .Short I. 4 'As ,
101'. 7 1)3
101'a 3 .li I
S P.cine II :i i. (is vt
l... r.i 'fit i' i 4 hiojx
N Pacific P. 1,1 city 7s
II 7.'.'i, 1 1)2
1 75 M. 02
1
Liberty 3fci
Liberty I'd 4n . .
Liberty 1st lUs
Liberty 2d -HIh
Liberty 3d 4i
Liberty 4th 4'4h. 87.34
Vic Notes 3 -7.(1 . . pfi.-io
"K'h
8(1.811
87.10
87.78
K7.18
I1.4'.
Low
8(1.70
80.00
87.30
87.00
01.31;
87.21.'
1)8.30
T 4a
. 00
1
I. M.
80.S0
87.10
87.04
87.14
01.42
87.28
08.38
Philadelphia Stocks
3 ihh N ratine il c t, 2
1C llflalutn a fi 03', 'Fan Arnonla A
1 . OSVOrrf II Calf 3s, A P Rly 4s
1 . . MM 4 hO 3 ... 02S
nel m 7','reun il i; po Pau'.o of
Tl
3
1
1
?
1
K flelit'm rcta 8
7 inoi,, 2
l
I
3
2li
1
Oil IS
till 1i
IIP 13
00 1.'.
0.1. 13
00.13
("ny ''.urlili
13
I.
0
I
1
t's if.il l,ri
.. to .-t,11. IVtille I.
till", 1 00
(lll I ll'l'k
OlITi .'.ens S I. 4 t"
Hl ' I. l'j
101'i '' !o ti P r l
hii'v
101 H'l.'olo 4 H 4'
3 101 ' 1 74
'in i of i il! 1 . . 74
7 . SI ""ons it On, ;,l
i en 1 of il Is. I. .
4 SO B
Cti Paclllc let 1
2 . . 72 Cuban
15 T2U 1 .
erro ds Paaeo 3. .
Copper a Idiban
1 . 107 , 1 .
r A mil" ' - 3
1 73'4
Chi & Altmi :
1 .
c 11 4. Q il'is
00',
OH',
Uli,
IMS.
ii 'ti
. nn
no',
(I'll,
no',
ii'i
mn,
00.t
Trunk ri'is
101
100'i
till
inn',
3 mi
-.thn ft ' 7s
r. nt
1U1 Navl Co 4 Uraill ct Ss
101 I 1 774 1 OS',
101 Orrson S 1. Iv i , v,
100', 3. hl'jFeaUd A I. aj
100'i h RH, i . 2f,i,
IflO't Ora-W-n p. Co 2 28 '4
lOOSI Nal Co 4a 'feah'rt a I. 4s
70S 23 0IIH
7"'. "3 Srt.
ItNli, Tackurd M'it"r Lib ,t A '. lit
100', Car Co H- .1 . . JH'4
10O1, I ... US', Sinclair O nil
100 B OR ',, forp n 7'a
10l i 1 H3 4
100'a iP U Km 4'.i i
100 , 8 .. 70, 1
1001,
mn,
0'
tint.
ban:; clearings
l th cur-1010
vJinnB.ssv
S02.T4O.313
Man . . ni re
lO'liuiniina ill.. .
' lli.'l
Phils. . I, il. ooo. c
N Tnrk.&4) BOn.ooo ;(
ll I I O'lXiiH
t0 I "II',
1020
til 1,01)0, 000 ta)M.n02..1Nsj ,170.2X0,113
r,
in
I
r
3
B ..
fl . .
3...
0',i
on i,
tint;
on i, I
nn,
tin I,
on1
DO i
l
s .
3..
0 .
J .
BOH
0M
101 . 1 . 00
loi, I 2 nn
ltiUi l ..no
s hsi 12 . not,
om l . on
hOi.; i.. .. nH
C ( 1.. .. 001.4
. m I 2. .. no1-
03',' 1 004,
031, s . no1,
ni 14 1 ... tm;
fl(.'t. n . no',
03', 13 . . (ifl
03'; 1 1 ... un,
ii', a , . niit-j
C,"p, 2 00 S
03 I 1 . nos
. 1 no 4
. os i,i 1 nm;
, es Hud l Man td
.... 1 3. .4,. '-'
Klnrdom lien
mark ct 8s
2 . . 101
8 101
10 .. 101
4.... 101
ft. . lOlUI
1 1'M'i
Klnsrlnm Nor
way ct 8s
1 1112
1. . 10'.'I4
1 . 102
2 102T4
3 1H2
K Hvreden Hi
3. . M',
4 . .83
I aki Hicre M
H'n 4s '2i
1 fll4
1 84 U
1 . . 81W
I, A Stye'" Ta
2.... loot,1 3
2 (s 7) 108 a; j c
I.ou Jt Ark 3' 2
1 07 ,1'enn.l It II 7a
Lou A Nash r, 1 toi: '
1 ... BO'S S! 102'
01
(1 1
DO',
!M.
IMI'4
01
1,13
Iw P M.
)7 ,-i7 .
lOli-Vj 101i-"i .
Net
chie.
101...
04 "
34 U
42
34
"" Vu
ii'.
IS 7'' , 1
2 7fl 1
8 7 iHs
1 . 70', h n Pacific fd
renna U jt r, jf ;0
84 1 751,
1 fc3 So 11 I'no c 4
2 4', .-, 781,
1 78 's
8 78 t
lit'.1 s 78
OSU'sn n PBCflc 3s
0H I 80
118', f.iih 11 Ill- 4a 1
08', I 1 ... 511 Uj
0PH Ptniid il n I nf
iiH',. ,'Hiif ,i ;
08', . mi', '
nN,. 1 iota
8',; 1 1034
lent S lii il '.n 8a
08', 1 103H
08',i7blrd As ftl
OBIil 20 3t
OHM 1 3"4
1 H.'.l.,
I'enna ltd V,s
2
38
2
3
21
2
1
24
3
1
n
1
., . . ,lli,h
IO Am Strti . ."7
2(1 RIec.Stor.1028,
nOtKrnnt'fott
Ctijippr.. 101,
3 Lch Nov. Ill
HlOtl'nc Oil. 34 S,
10 Pa Cent
Lluht pf 42
283 I'h K .. 35 Vh
10 I'hlla Ins
Wire... ,'0i,3
25 I'lillii Ulec 21 Hi
210 do nref.. L'rtU
lOUtendlnjt. 0Si, o(
ii'i'i 1,1110 nei 1 1
374 T (5 I... 34 34
2 I'n I Coa
V .1 lOM'.j ltVtl..
not r s sto,.i 7'vir Ton'
... , - "- I I-,-, ''S
Pmi.MlKI.PIlIA IIOXDS
liMill Liberty L'd 4',h 1012
00(M) Libert 2d 4',s l!ll''"
1000 Libert 3d 4"Ih IOl'n"
IIHiO Llberl.v 4tli 4.h 1038!
1200 LiherM 4th 1i.s 1038
HKKl Atlantic I(f fli.jR
KHH1 fJenernl Ahphnlt hs
1000 LehlKl. Nnv conx -Ji.in'
MKK) Hiiln Ke,. iHt 58...".;
5000 Itcudinif Rencnil 44..
3000 L'nltcd Hnllwnv 5m..
10Vj 11
04 i,J
42 ..
35 V,,
."014..
wt 204. 14
w. si 4
34
11131'j..
72-
QRAIN MARKET
Chlcaso. July 21. Wheat started
unt'hnngcd to '4 cent lower for July,
sternly for September nnd unchanged to
14 cent lower for December. Helling
woh scattered on estimated receipts of
475 cars, with trade Inrgcly confined to
tho local crowd. Receiptfl inspected
yesterday were 053 cars; left jcar 18
cars.
The cash market was relatively a
Hhnijp firmer, with nillls and elevator
limites fair buyers early and exporters
taking 000,000 bushelw nt around 1 cent
lower levels, presumably to All old
aalcH. -Tho bvaboard reported 250,000
buplielH more worked to (iermnny.
Weather reports show lower tempera
tures last night, but no precipitation
over the Rpring wheat territory. Out
flldi interest In futures is light in face
of the heavy prlmnry run.
Corn started li to 14 cent higher
for July, miuhangpil tti ;l cent lower
fur September and to '4 cent lower
for Decemlior. Ono of the big local
longs started selling out, but local trad
ers took tin' ofTeringR, holdinc tho nrice
fairly steady.
Oats started unchanged to Vt cent
higher and tnou-d up on scattered com
mission house buying.
COTTON MARKET
New York, July 21. The cotton
market this morning was unrebponslvc
to the financing developments for the
staple and the drop in the English bank
rate, and under loenl and Wall Street
selling opened rather easy, at 7 to 0
iiolnts net decline. Liverpool -was the
best buyer, although the trade also
bought a little. After the jititrt, the
market reflected further unloading and
was about 12 points net lower.
Thn receipts of cotton at tho ports
for tho day are r.stlmated at 13,000
bales, agalnht 10,808 bales a week ago,
4030 bales n jcar ngo and 12.1KJ bales
two years ago.
Teat.
. , close
;!"v, 12.20
October 12,73
Uecember 1H.17 1 ?, na
Jnnuarv .. lfl.ni is.io
JJrch . 18.41 IS.28085
May . . . 13,47 18.30
InVstmenf for Saving? Banks and Trusl Funds i
Ohio, Connecticut, Vermont and New Hampshire "
$2,000,000
Province of British Columbia
(Dominion of Canada)
Five-Year 6 Gold Bonds
D.t.d July IB, 1921 ' Du. July 15, 1026
Principal and semi-annual Interest payable Jn New Ynrt, n,
In tf 8. Gold Coin. Coupon BonSs (VrinclpTl may fi'7
registered) Denomination $1,000. Legality to L
approved by Messrs. Malone, Malone & Long.
FINANCIAL STATEMENT
Approximate take of assemble property. $81 5,000,000
Net debt Aran ci i
D..m.i.i .. -:'rr','
uTiuiiai asicu r
Rerenae, year ended March 31, 1920
Expenditures, year ended March 31, 1S20.
Population, 461,943
620,000,000
12,605,274
10,083,845
h.?fet. otida La.re Jhe .dlrcct obligation of the Province nt
British Columbia, the third In size of the Provlncef of Canada
having an area exceeding 238,459,000 acres. The natural
resources of the Province make It one of the wealthkiHnthi
Dominion, and Its mining, shipbuilding and fi.h?n Industries
make It an Important factor In commerce all over the world
Vf ?' . the capital of the Province I, one of the riche ??.t
dential cities in Canada. Vancouver is one of the most Imnor
tant commercial and Industrial centers on the continent and
with its wonderful harbor, the gateway to all trade with the
Orient At these two ports were cleared ov'er 6,000 vessels last
year with a tonnage of over 8,000,000, or more than at anv
other ports In Canada. 7
We recommend these bonds as a safe, conservative municipal
Investment, and offer same subject to prior sale and approval
of legality.
Price 93 and Interest, yielding about 7.75
Orders may be telephoned or telegraphed at our exosnss.
Bonds delivered to any bank, payable in New York Funds.
Miller & Company Brandon, Gordon & Waddell
Members New York Stock Kxrhnnge around Floor. Slns-er Tiuttiiin.
120 Broadway, New York City 89 liberty Street, New York City
Telephone Cortlandt 31BS
Telephone Hector 7800
L
The Information and statistics contained In thin advertisement have ne.
furnished us from sources we consider rellab'e and are accepted by ns as
accurate, being the data upon which wo based our purchase of ihe socurltlej
S?1
Wc offer for Imrhcdiate Delivery
M 25,000,000 German Gov't 5 Bonds
$10.40 per M 1000 at Exchange Rate of 1.30
10.48 " " 1000 " " " " 1.31
10.56 " " 1000 " " " " 1.32
10.64 " " 1000 " " " 1.33
10.72 " " 1000 " " " " 1.34
10.80 " " 1000 " " " 1.35
at
(The price increasing 8c. per M 1000 with every point
in the Mark Exchange.) ,
Pre-war Par Value $238 per M 1000
The possibilities for an enhancement in capital value, through
even a moderate rise in Exchange, are obvious. For instance:
If fl.50, value would increase to $11.70, or 12 profit.
Mark 1.60, value would increase to $12.50, or 20 profit.
Exchange. 1.70, value would increase to $13.30, or 27V2 profit
should 1.80, value would increase to $14.10, or 35 profit.
rise 1.90, value would increase to $14.90, or 43 profit.
to 2.00, value would increase to $15.70, or 50 profit.
Interest on German Government and Municipal Bonds is being
paid promptly and has never been In default.
Five Per Cent. German Government Bonds in Germany are
accepted in payment of taxes.
JEROME B. SULLIVAN & CO.
Foreign Government and Municipal Bonds
44 Broad Street New York
Today's
ormp.
12 10020
..'.nil
r.V
12.7II
58:11 .
R7.00
87.38
(U..18
87.i.'tl
A7.38
1IWJH
KiVi
.KflV"
73 T
(10 V-
IlMI Ni i r w H
at Stil
BAR SILVER
11 tl .lltr tl ,
lomlon todny,
Raw Sugar Market Steady
I NMt rk, Ju' iJ - Thi mw stiifi. r in..
IUe, l s.erdv on the busli lt rents' Tn
anil l"-ni I ,r I lllmi, Sal I,,. ,h. iu,
UHVl,
M
OHH
Tidewater fill
On ct US
9 05
4 (i3U
a. n.14
1 03U
Mrx I'rtr 11 10241 f'nlon I'e
I . OH, P.iiy.e, (laa I. 2 . fti
M : Ht(. fd A 1 c '.'o ft . . 8t
3 " 1 . T2 Vn'oit I'm '1
M K T t ll'hll t'nuntr v , i ., oni
H r.fiij,. J2. MT fnlou J'ni i
I l 301 BOViI'jb Serv i'i nl 3 ... M
M II T I'is N Jeie, M ' . h
l 30 1 . 041, a. MU
It Ii T notes 1 OS Union l'sc rt
T 4tU .... .... 8.,.. 100
,,,, (, tvef
in' wee. of oonoi Ti,' "The' includ'ed
20.000 Lags In i,.,rts ,t" ceSts cost an I
f.elnliti ai.llOO l.sir, for .lulvli'imem at a
cents. i'ii,l anil trn shi! "ft nivn Vlil i I,:,1
ment t
sni:
1 nnu inuints so.oofl bavs for shin
n r.'nia. sn.l r.ftftn ..,. - .nr.
mn.nt la Vrsn.. .."";. '"-..,' .'IV'"!".
sut S ilR lent, f "o b, ribs. 'Aside frorn
... . v. ;ir". .'"''"'".! wnien
innrlcet is unrhaniid
ent
134(1 1
NEW YORK COFFEE MARKET J
Now Yorli. .lul.r 21. Tho offlrinl
nh!oH reported btcndler Ilrazlllan mnr- i
Rct nml rtvent ntlvicou lmre Rnid that
ttio S.tiitni Oovornnipnt hnd Hold a Uel
clnn syndicate n block of 7(10 bags of (
Snntos rofTcf, on which n liboral cash
mlranre lind. liccn mmle. This mnr have
cherked Bollinjc at the openiug of tho
local cofTpp ftittircH innrlcet this morning
ok there were little offerings. On a
kale of one lot of December, nt (1.73,
the market advanced 3 to 3 points. i
While then, watt little iutcreht shown
ill lll'tltnl tinliw flllrlnrr thn mnmln. ,1...
switching operutioni were, active, riep.
ti'inber being exrhaiiRed for 5Iny, at
i2 pointh, nnd for December, at
4U tiolntn. Kurope'M buying of coffee
in Hrarll mny enable the Govern
ii ent to support the market just that
much longer, it being reported that the
iiiuount advanced bj the Helglan syn
dicate wan "!i francs per bog,
. Prev. J'loee Open '
fieptember (1.2Sf'J7 f1.58$;!
Deciuiiber ll.ilTMTO 0.71 T3
March 7 io(U 7.02W10!
May 7ISW10 7 20fls
LIVESTOCK QUOTATIONS
I'lllsliiirali, July 21 IIIK1H- Itecrli.te.
Ijiiil head. Market lower. Heavies, S 1(1 00 '
Will IS hesy and lisirit jurllcrt, plice, '
S 1 1 . 0 ". t," 11 7(1.
fillEI.'l' AND r.AMDS Ileeelpts, BU0 head
Mnrlct steady Top sheep, 1 8. SO, top lambs
lit. hlKher,
C.U.VB8 Receipts, 200 head. MsD.ct I
hlthei Top. Ill
Kast Iloffalo N. Y.. luly 21 t:.TTI.F; - !
"W1!,.1 .h,,l,l Msady. Calves, re- I
celpta. H75 head. Hlow, l12, fuw. 112.10
25, hither Heavy. SllilM) 2.1; mleil 111
"I II nil ,-nraeri, biiu nam ymKers 111
a, viK". ii ui'iiii iu ro'isns .h no't
The effect of a large note issue upon the
earning power of the common stock of
Sears, Roebuck & Co.
0
is discussed in our circular PL-430, of
which copies will be mailed free on
request.
WALTER J. SCHMIDT & CO.
Members Consolidated Stock Exchange of Neiv York
Philadelphia: 1323 Walnut Street
riio iit-e-
New
-Hell, Wulnut 4000 Kr, stone, Koce 37B1
York: 30 Broad Street 319 Fifth Avenue
Is Your Name Worth Anything?
Wo mean, ia your promise to pny only gou" for incurring
obligations ?
Or
Can you make your standing in the community earn an
Income?
Your Money is worth 8 in today's markets.
Your Credit should earn as much for you.
Let us show you how your Money and Credit, nvste,i
n a Security protected by a United States Government Hona,
Will Pay You 16 Per Annum
Sherman & Co.
632-634 Widener Building
Write or Call Spruce 6180-81-iw
in
French Bank Statement
fti.no
if. 7.1 ti
The lo.il -refined ' sfa.s .1 Mfld "" "" " " '"' ,
, HUKfil ANI) I.AMIlrt Hecemts (UO head.
Iur m. 2.1r higher l.ttmhu 111
I
.i,i i, '. ".. n" ,v"l llllinil of
ihn Hn.. ,,r r-ai,f(. chm,. mm f'i.,iii
ihanr s llni In hand ii,crnie,l 15; ,11
frnm aii'e- in hand Inorei.ed 22.01(1 until 1
... .. -. ... r,,i,pri .n 111,111111. Iie,s.
in deiaisiiH lnr-resae.1 7 Hilll.OOO; r'pi-rnl ile
posits Ineiejis'.d 117 O.l.l.hon- bills tl scounie I
llll
IIUIiIkhiK,
Svii: . NivrioN.ir"
riui.Miivi.rii'
I'.illi'dn'.plili, ,111
The Ij rrr'iiri, Invi thin ,l
fiLnrurii d WKnd 'if tl nrr t nil f ,, ,f n.
. piuiihle Jul) SOth, 1031. to ln k'lolders nT
rstprd July ltb, 1V21. Chtcks hIij J,
I 4 A, D. BWIFT, Cashier.
H.M 01
21 1112 1
1 I r,1
Equipment Bonds
Mnliirlllfa Hi-211 to lll'itt
Prices to Return 8
Edward V. Kane & Co.
Morris Building
Established IB years
BOND MAN
who!;
Advertiser is familiar wi in - j
sallng and retailing of Mun i P J . ,
Conservative Corporation -.
now holds a lucrative pwiUon ' W
inp sales force and scl L
, r nMrnf ,' l.illa"- "
UIIIII. I ' !'- ,-, .,
rensons con
SiViron
onneciion wi ,"-- uu I
. -. Itlif irSL s1r" aJrsl
i 'csantativo nouse in -",", .uiwi
tlou, dealing only in stnnua T?.
IHri.PA.I.IMO
ttO.T'lU.OlS
tie3, is desired. t,1iej2
' A 624. LEDGER 0FCI5j
?-.f
61, 830,008
wivw llnt(
r
.
T
, : Cl h-tf,
AAA As-Wk Tat -.! ,'! Uf lOWl .UU,
lloalon ., eo
.637,6(17