MM.'ru;;;.; .v1 fS ir t' n ?', - , k"'. & ! w r L1" iV. f,T ft 1- 'Id 1 I IT. ? fe If." II. , ew '" . .' v . .. r 4 I Spruce 8200 BOUGIIT SOLD QUOTED U. S. Treasury 3-year Ngtes 4-70 Due June 15th, 192 1 SECURITIES tlErAIlTME.NT commercial trust Company Member Fdr.l ntserve Pjratem City Hall Squnre Weit 3. msss&ktt mmmtidtmm umUc?Ay r twmmffltfiiiiiiimm.Bir.l - Jinniiiwimtm"i''i"""rf - 1 1 i- i ji i-i lit- PBIfl J if s i I "Invest h as You Save" I Our booklet of this name I tells a way for the accumu- g lation of a fortune in the purchase of bonds by par- tial payments. Wc will mail it to you on E request. BATTLES & CO. fl Ftlabllihrd lS9o U Independence (Square (F.nsti B nniinminnniniPiiotiiiiiinRTmiiiifuiaHUinnimrauiiimD man nmtuniHnmmHKnr :m SMALL INVESTMENTS Mam- men with small cap ita' fin to realize the oppor tunities that the present bond market affords them full to appreciate that It Is possible todav to purchase the sound put nlTrlnm In small unit" We aluavs are readv to as sist the small Investor WlDENIR BlDC. PHILADELPHIA . MmimPiilmUMtwn HnoYat Stock xtki NFW YOtK tUZUCTH. N J. W J iawV I I k I IMS GRAIN AND STOCKS Facts and figures relat ing to securities or grain cheerfully supplied. We specialize in Odd Lots Boureau & Evans lumbers "'' V",U ,K'bnT l Chlraco Ilonrc of Trad 130 South 15th Street Philadelphia Lacuit r.i$: Rare mi ii g iT i Boles s-Westwood Member's Phila 5iock. Exchan.de INVESTMENT SECURITIES LaniTitle Bitty, Philadelphia PHONE LOCUST 4721 WEEK STARTS WITH CHEERFUL MARKET Recovery Movement Was Con1 tinuod in the Active In dustrial Shares New York, July 2T. It wns the most cheerful Monday morning opening In the stock mnrket tlint Wall street hn experienced In ninny moons. Satur day's recovery movement wns resumed with a fair amount of vigor and fur tlieir substantial rallies were registered, hclng especially striking among the In dustrial specialties. Tills was accom plished without the aid of any particu larly invigorating news of developments over the week end. It was just because there was n change of heart 'on the part of those responsible for the current operations and oh more felt the market should go up than cjitertnlnlng a con trary opinion, the effort to lift prices did not meet any material opposition, although before mid-day the list showed evidence of weariness and there wni some pront-mnking which took much f the otlo off the forward -swing. Lack of stimiilntinc npu-n tvim rnnro than mode up by the liberal distribu tion of optimistic expressions in the weekly reviews and bullish prognostica tions as to the immediate performance of a number of Individual stocks. In other words, personality cut a big fig uie in shaping the course of things dur ing the best pnrt of the morning. It not altogether a straight putli ox while sonic of the steel, equipment and rubber shares made irregular extension recent lenders iu the oils and railroad shares were conspicuously backward. Smile of the pep was token out of the rail movement because some got rhe idea Into their heads that the forthcoming messago of the President on the transportation problem might not be such n big bull card after nil. llefides pointing out the necessity for providing funds to carry out the re funding plan as tentatively agreed upon, it wns intimated the President muy also suggest tho necessity of rate reductions for bringing a revival of business activity. The group, how ever, held up well. Virtually the entire list wus firm at the outset. American I.ocomovtive, Unldwin Locomotive, Crucible and United States Steels, I'tnh Copper, General Asphalt, Sumatra Tobacco, I'nited States Rubber and Kelly Spring field Tire were active nt gains running from large fractions to almost two points. Hoynl Dutch lost 1 point and Mexican Petroleum eased slightly with Cuba Cane Sugar. Steels and equip ments made irregular extensions to early gains, but fell back on the increased heaviness of oils and the sluggish move ment of rails. Some of last week's bull ish activity was noted in specialties of the food devision. particularly sugars, Corn Products. Coca Cola and United Fruit. Miscellaneous specialties were inclined to react, especially chemicals and textiles, but motor accessories in cluding rubber tire issues held tirm. LOCAL LIST STEADY AS TRADE REOPENS Dealings Limited to Small Lots. Pennsylvania Railroad Gains Fractionally Stocks held Meady on the resumption of trading on the local mnrkot this morning. Dealings were not large in ! any issue, most of the sales being in small lots of those stocks which have been favorites for several weeks past. Philadelphia Electric preferred was tbe i fenture of the early ssesion and sacri- I ficed H on a turnover of some I lf0 shares in the first twentv minutes I of trade. No sales uf the common stock I were made in that time. ! Transactions in the rail group were mixed. A hundred shares of Lehigh 1 Valley changed hands at 32 a. un changed, and small blocks of Pennsyl vania were taken at 3,"ia4 and 35&i. at the higher price representing a gain of I'nited (5ns Improvement miM .iff V4 to 'W-,t Penn Centrnl Light preferred was token at -IH. up '. . American Stores making a similar gain at Ii"1 Botids were entirely neglected in the early session. Philadelphia Stocks WE SPECIALIZE In ODD LOTS Foreian Exchange Bought and Sold MILTON HE.M6T0 STOCKS'FORCIGNEXCnASGE BONDS MIHBria ' PhUAPSlPhiA STOCK CXCHANC-B-. eOMiOllOATEDiTOCKtCHANGl.fVt 1622 Chestnut Street Phone llrll. Slirme hOtl-'.'-J-t Ivei'tnne. K ire IV) It Ilroadn-i- A 489 .If Ii Ate.. V V fstnmfnril. Conn snrln-illrld, Mm, llolrokr Ma-s 3 Am Sirs. ."OtCubnn C Sugar. . 11 I Co N A 100 l,oke Sup 10(1 l,e, Vol . L'tmtMld Sra nil ... 1." Pa Cent' I Light pf A'.i P.Tii Pa it U ."..-. in Phila Co urn pf. 40 Phila Elee 1 00 do pref .".o PhilaTrne UOfSttidebkr i;!0 U (', I .-.( Wet Jer ,c S . . Hlxh .".74 57 'i 1 M Net I" M chKe 57 -!- U HH !s 2 1(1 :m, JOT, .vt'... 's. U'4 N 52 Hi, 71..- r.2" --' - '- J.1VV'' NEW YORK STOCK EXCHANGE mAPJsActlONS Dlv. tiv In I 101 4 300 200 100 100 100 200 300 200 200 200 .tow JI00 300 IO0 1400 100 soo 200 6100 1200 3i00 3100 400 100 6400 C00 200 4100 200 300 100 200 1A200 1700 2000 100 100 400 300 200 21)0 100 2J00 1000 .100 3000 1200 100 on 3.100 400 3100 100 too S10 4.100 300 300 SOO 100 .110 400 100 000 100 12 10 n llla-h Air Reduction at AJax Rubber 23 Alaska Gold Mines... tH Allls. Chalmers 31 H Allied Chem & I?yo pf, 884 Am Agrio nhem 3d Am Heet Sugar JJI14 Am Can 27 y2 Am Car & Fdy 127 y, Am Chicle tnii Am Hide & Leather pf 2 87 4 3tt 2J& 0 8.1 K Am Ice . m Internnt Corp. Am Llnseod Am-Ln. France Khr Am Locomothc . . Am Safetv nnmr Am Shlp& com 7V4 m nmeu not 37 Am Sugar nof 70H Am Sugar Ref pf hoy. Am Sumatrn 80W Am Tel A Tel 04i Am Tobacco 1327,1 Am Tobacco II 131 !4 Am Woolen 73?, Anaconda Copper .... 38 K Asso Dry Goods 30 H Atl Qulf & W I 8 S . . 22T, Atl Gulf & W I 3 g pf t0", Atch Top A Santa Fe. 844 Atch Top & S V pf . . . . 77 J4 Atlnntlo I'et 14 Rnldwln locomotive. , 80 Baltimore & Ohio .19 Hcthleliem Steel 13. . . . 40 J nethlchem Steel 8 pf 90 Hooth Fisheries , . ... 4 Brklyn Union Ons 6 Brklyn Hopld Transit. 11 Butterlck 2j?j California Petroleum. 3314 Caso J I 44 Canadian Pnclflo 1I3K Centrnl Leather 3(14 Central leather pf . . . 71 ii Chandler Motors 4 9 J, Chesnpeake A Ohio... Btt Chicago & (It Wont.. 7J'a Chicago Mil A St P. . . 37H Chicago Mil A St P pf 43(4 Chlcngo & Xorthweat. B4t4 CHI Tl I A Pac Clll n I A Pac G" pf. Chi R I A Pnc 7 pf. Chllo Copper Coca-Cola . . . Colorado A Southern. Colum Gas A Kleo Col Grnphophono . . . Consolidated Gas Consolidated Cigar Consolidated Textiles Continental CnnrU- Corn Products P.pf 1100 t.jn 22011 .1.100 3100 1100 inn 100 00 400 100 1.100 900 200 100 7400 (inn 9000 700 60l( 290 200 1300 000 100 600 ono 100 700 nnn nnn ino 600 100 1400 300 nn too 1 001) 5600 100 Uilll 100 (300 7 Corn Products Ref pf . ino 33 y, 041, 7H 10 K 33 371, &si Vt 87 28 lilt, 07 H 1 7 7 4 1 4 1 60 -"Hupn -o Ji'a Crucible Steel . . .10 Cuban Am Sugar 174 Cubn Cane SiiRar . 11 J4 Cuba Cone Sugar pf. 30H Delaware A Hudson.. 100 Del ITck A Western .190 Denver A Rio Grande. 1 Denver Rio Gr pf.... 2H Dome Mines I7H Rndlcott-Johnson . . . 02H Krle 13 J, Krle 1st pf 20 nrle 2d pf 14' Famous Plnyers L. . . 40 H Flsk Rubber 12H General Asphalt .11 '4 Genera Electric . . . 123 General Motors ... . 1?4 Gen Motors deb 7 .. . 7.T-4 Goodrich U F . . . .12 Great Northern pf ... 70", Gt Nor Ore ctfn 37 Guontanamo Sugar 8j Haskell A Barker Car. .17" Houston Oil 84 J's Hupp Motor Car 1194 lndlahomn. Ref IV Interb Con Corp 34 Int Hnrvcster now .... 7.14 Int Mer Marine 11 Int Mer Marine pf ... 46 4 International Nickel. 14'j International Paper . . 34J4 Invincible Oil Corp... i0i Island Oil 3 lew el Tea 0 J4 ICansas Cltv Southern 36 Kelly-Springfield Tin-. 41H Kelly-SpR Tire 8 pf. 77' Kn stone TAR. . . 13 H I.ickawanna Steel ... 3714 Lake Erie A West pf. . 214 1:80 Net Low Close Chte. 31 31 23 23 V 'i 14 V li4 ,3114 Yi 88ya 884 .. 3(1 30 31 14 3H 14 27H 27ft-1- ?i 125 J, 12 Ji- Ji 114 1J4 'A S2?4 52H 1J4 57 57 34 31 4- t4 25' 2Sft V 0 0 . . 84 Y 8.1 1J4 IU 4y .. 0M 7J4 H 37 37 68J4 68H - 14 88J4 8OJ4 M 49 49J4 IHj 104 ft 10434 J4I 122 ft 132 J4 I 121ft 12ft f- t I 71 ft 72 L t .18 .1814 ft soji .in?i :- y, 21ft 22ft- 14! 18ft 18fti- ? 81H SH 14 77J4 77J4 H 14 14 . 78ft 80 2' SOft 30 ft ft 4Sft 48ft- ft 00 ,5 00 14 I 4 4 ft , 6.1M 0W 3ft 11 11 ft 23J4 23J4- 1 I 33ft 3.1ft .. IM 4?i. ft 112ft 112J4- ft 3.1ft 36H H 71 71ft 1 411 ft 49ft- ft .1.1 H 5 Ji- !s 7's 7J4 ft 27 ft 27 Va 43ft 43ft ft 01 ft 01 ft r 14 33 33 - ?8 04 ft 04 ft ; 7M 7CK ft 10ft 1014 H 3n4 31 ft Ji 3714 3714- ft I 5.1ft 55 ft 4- H 44 414 .. I 87 87 ft 27 4 2S 4 lfl'4 I5S H 4 f- V 1 66 8 66H . loo inn 27'c 2s x ft 5.1ft 5.1ft V V 104 I614 - 4 104 1014- a4 28 2SH- 154 inn inn 4- I ton ino - t 1 1 1- ft Ui 2ft '- ft 174 17S- '-k nf4 62 Ji 13H I1- ft 19J4 30 ;r. 1 14ft lift 484 40 4 13ft 124 ) H 50 5014-4- 'i 133 H 132ft 4- ft inft m4 73 ft 73 ft 4- ft 7n 70 I 37 ft .37M ft 8H 8 ft' 50ft 50ft - ft 1 54 54 ft ft 11H 11H 2ft 7ft . ; 3ft 3 . 75 75 ft ft, 11 II - 34 40ft 46ft 4. ft 14ft 14ft H 53 ft 534- M 10ft 10ft ft. 3J4 2Ji .. I 04 t 014 . 25 Ji 2.1 Ji- 1, 394 41ft 1- I ft 77 ft 77 ft ft 12ft 12ft H 37ft 37ft .. 314 314 4- 1'4, Dlv. RMes In $ High 10 t Lee Rubber Tire 28 ft 1000 8. no Lehigh Valley ., 52 100 it Liggett A Myers 151 100 12 Liggett A Myers B,... 17 00 .. ixiewo Co lift 100 7 Louisville A Nashville 1134 100 7 Manhnttnn Elov guar, 434 100 .. Markot St Rwy pr pf. 30ft 100 .. Marland Oil , 14ft .100 .. Maxwell Class JJ 10 H0n 12 Mexican Petroleum ..100ft 400 2 Miami Copper 21ft 1100 1.00 Mlddlo States Corp... 11 100 .. Minn A St Louis 12ft "00 .. Missouri rnclflo 21 ft 100 .. Missouri Pacific pf. .. 41ft 100 .. National Acme 15ft 100 7 National Hlscult 115 200 6 Nat Knamcl A Stamp. 40ft 300 4 National Lend 70 1100 5 New York Central. .. 714 .100 .. New York C A St L . 63 ft fl N Y C7l Ht T. 2,1 nf (In -l -. . - " -- " 31 184 18 06 ft 744 Ui 04 534 35 ft 494 43 ft 354 Oft t4 500 t.oo'.Vew York Dtock.". . 100 100 loo 100 100 too 100 500 600 100 2000 1000 500 300 100 100 3C0 1800 too 200 100 150 100 1000 500 .00 300 .1100 1300 Now York N II A II. . 1 New York Ont A W. . . 7 Norfolk A Western . . . 7 Northern Pacific . Okln. Prod A Ref 8 Otis Elevator 5 Paclflo Ons A Elco. . . . . Paclflo Oil 6 Pan-Amer Petrol 8 Pnn-Amer B 2 Pennsylvania R R. . . . , . Penn Senboard Steel. . Peoples Gits Chlcaeo.. . Pere Mnrquetto 21 . Pere Marquette pf . . . , 38 S Philadelphia Co .10 . Phillips Pet 17 ft . Tlerce-Arrow Motor.. 184 . Plerco-Arrow Mot pf. 38 . . Pierce Oil 8 . . Pittsburgh A W Va. . 2S 7 P Ft W A Chi pf . . . 130ft 8 Pullman 07 Punta Alcgre Sugar.. 314 4 Pur0 Oil 354 8 Railway Steel Spring. 83ft Ray Con Copper 12ft 4 Reading 70ft . Renuhllo Iron Steel 4BT4 3100 0.20 Royal Dutch NY 51 300 . . st Louis San Frnn 25 100 .. St Louis Southwest... 37ft 100 ..Rt Louis Southwest pf 3.1ft 200 .. Seaboard Air Lino... 5Ji 1700 .. Senrs-Roebuck 07 Ji 100 .. Seneca Cop Corp 15 3100 .. Sinclair Oil 204 lOO . . Slops-Sheffield 35 4400 o Southern Pnclllo 7.sft 700 . . Southern Rail 21 100 .. Southern Ralls pf ...46 600 . Standard Oil of CilI.. 74 Li 100 7 Stand Oil of N J pf . . . 107ft 101) 1 Stewnrt Warner Speed 3,1ft '' . stromoerg earn .... 10701) : Studebaker 700 1 Submarine Boat Corp 500 .. Superior Oil Corp... 3700 3 Texas Co 201) . . Texas A Paclftc .... 200 1 Texas A Pac C A O. 200 . . Third Avenue 3000 fl Tobacco Products . . . 100 . Trans Con Oil 7i 200 4 Transuo Wm Steel 33 200 Union Oil 194 001) 10 Union Pnciflc 12n4 200 4 Union Pacific pf 01 100 k United Drug 83 ft 101) fl United Fruit 100 200') 8 United Retail Stores.. 55ft 10(1 .. I'nited Rwy Invest. ..- 8J 5()n .. U S C I P A: F.ly 15 3011 .. V S Food Products... 104 000 .. U S Ind Alcohol 52 Ji 5500 .. V H Rubber 5.1 Ji 100 BUS Rubber 1st pf.... 05 10200 fi U S Steel 7314 100 7 U S Steel pf 109ft 60O .. I'tnh Copper 494 200 .. Vanadium Corp 29ft 100 .. Va-(.nr Chemical pf . . 74 Ji 200 . Vlvnudou Ino 7 100 . . Wnbash n tOO . . Wabash pf A 33ft 100 .. Western .Mnr kind ... lo4 300 . West Maryland Jd pf 104 800 .. WeBtern Pacific 25 100 7 Western Union Tel... 85 100 4 Westlnghousc 1: A M . 44 ft 300 . . Wheeling A L E 9 100 .. Whcellgn A LE pf . . . 17 400 .. Wlllys-Overhind 7ft 600 . . Wisconsin Central ... 3!) 100 8 Woolworth F W 112 .13 1 70 ft 5ft 4ft 31 23 ft 18Ji 15 58 Ei-UHIdenil. Ikiw 28 82 H 153 14) . 10; 113H 434 30 ft 14ft 10 103ft 21ft 104 12ft 21 41 18ft 118 46ft 76 71ft 53 ft 60 30 184 18, 6ft 714 U4 04 134 35 40H 43 ft 35 ft 40ft 51ft 30 H 38 30 17 ft "H 38 1 28 nnft noji 30Ji 25 ft 83 ft 12ft no ft 46 ft 51 24 Ji 27 ,1.1ft & 07 1.1 20 .15 77ft 204 40 74 107ft 26ft 32 78 5ft 4ft 134 23 184 15 I 56 ft 74 33 10 ft 1104 64 83 ft 106 54 8J4 HJi 164 Wft 63 9.1 73 ft 109ft 40 29 74 Ji 7 8 32 ft 108 10 ft 24 86 44 ft 9 17 2S 113 Not Chsn. 1:30 Close 38 3ft Ji 163 - 2 147 3 1114 Vi 113H 14 434 1 30ft .. 14 ft ft 10 1 104 - 1ft 2114 14 11 12ft .. 21 41 - 18 ft 118 1 40ft4- 114 1 70 4 lft .. 63 ft ft no 31 ft 18K 18 14 IN BETTER DEMAND Little Change in Trading Posi- tion of Any Issue. Oils Firm New Yorlc, July lit?. The New York Curb Exchange market was without special feature in today's trading, prices generally moving within n nar rqyv range and there being no material chnnge In trading positions of any is sues. Tho petroleum group showed a firm tone. Cities Service common ranged from U8M1 to 117, showing nn Im provement over its last weck' price. Mttracatbo wns strbn gfor a time at HI 74, but reacted to JlU, and Interna 06ft lS4tlonaI cPtrolcum ranged from 11 to 744 ft ill's. The demand in both these stocks ! . ' wus apparently for lusldo nccotint, thu IiuT ii buying being in the nature of. support, ".J? I J Slmiiis Petroleum sold at (l!)i and -7s "? .'? nnil there vnn n firm tone In VMi Hnsln 494- 43 ft - 354 4 Oft 1 -30 4 17ft I-I7H-38 1 28 - 120ft 34 07 3iy, 1 35ft 4 83 ft 4- 4 12ft 00ft- ft 46ft r ft 81ft- 1ft 25 - ft 27 r ft 35 ft ft 64 !4 67 ft ft 15 20 36 4- -"s 77Ji- 204- 40 74 107ft 36 ft 33 70 5ft 33 -18J4 15 68 - 33 - 1096 r ito4- 64 r 83 ft r 106 55 8Ji J4Ji 1014 4 62 ft 3 ft 4- 15 14 73 ft ( ft 100 ft f 40 3!) 74 Ji 7 8 32ft -1014 I0ft -3.1 85 44 ft- 9 17 r 7ft 29 4 ft 113 4 1 14 ft 4 14 24 ft 14 ? ft 4 ft "14 13 "4 ft 1ft 14 14 1 4 ft 114 ft and there was a firm tone In Elk Ilnsln at 0. Anglu-Aniericau Oil was steady at 1(1. Several of the industrial issues were In better demand and mndc small gains. (Joodyear Tire sold at l-l'i and n mod erate amount of business Was done In Durnnt Motors nt 20. Glen Aldcn Coal was traded in on n fairly large senlu nt .'11 to St and t'nrrcl Coal ranged from IHH to 11. Acme Coal sold nt 1 1-10. Sweets Co. wns unchanged nt ty, and United llctail wns trnded in nt OU ntid (IVii. A sale of Union Carbide wns mndc at -13 ',4 There wns considerable activity in the mining section, lloston and Mon tnnu continued its upward movement with henvy trading at 07 to 70 cents. Florence Goldlield was nctivo also. INDl'STUIALS . "'sh Acmn Coal ij. far I.lBht .; 2 Carlisle Tiro 4 Uurant Motors so Hniplrn food "uri fnrrell Coal 13 u men Allien 3j. (oollcar 'J'lfe 14 11 I.mv 1,V JA 2! I 1!S 12W 34 "Ii Urnnt .Motor it 7J Heulen fheni 1 ' it. Holly .sinrar pref 4,-, A " I.lbby McNeil iicomcrtiu- Mercer Motorx N Y Transportation . Perfection Tire Itrdlo Com Sttcets Co I V a Ship Corp I S .Steam fnllril Profit Sharing; , United Retail Candy . I t iilun C.irtiljB Wnynu Conl 1 ft vi 'A ft 2 94 b'i h", 75 7 2'4 24 2S 25 84 so li li 24 S4 21 22 3N OS If. 1 A 43 V 43 Vi 1 l. STANDAKD OILS Anclo-Amer IOI in m Ohio Oil 240 240 Stand Oil of Indiana ... 6nV4 iii. Stand Oil of N Y 30.1 804 im)kii:nihnt oils ll:u A.M. 1A 1A 4 2U 2HS 12', .14 14U ' 82 21 3S n 10 210 nnft 805 H ft Commodity Markets 10TS KIT 43 3.V-, 31L. -Mth 20 ai r.31'. 70' i 33 a; L'S-'i, 13 4- IJ .;r,.4 4. is 31 a; 21 tn . . 20 V ' .Vlii l 71U.4- ij 33.1, i; 2s:i, 4- a. Net rh.itiit. 111.1 1 u omparls.m with 'an i r n N','w iorl StiK Kichanne l'llll.l)i:t.l'lll IIONDS 1100 l.ibertv 1st ;!., l()t7 2d l',s Hill! American Gas & Elec. Common Commonwealth Pow., Ry. & Lt. Com. Western Power Common Appalachian Power I'fd. Phila. Suburban Gas & El. 5s, 19G0 . American Gas 7s, 1928 Penna. Water & Power .'is, t!)0 BAUER, STARR & CO. I.iiml Title lliitlillnc I'lilliidelnl'ln New erk Offlr. 2 Itninr -trfft Dire yvti-if, I eh plmiii. b'l Ufflica American Gas Co. 7s, 1928 Duquesne Light 7Lis, 1936 Atlas Powder 71 ,s 1941 East. Shore Gas &; E.lcc. 6s, 1955 Autocar Co, Os, Various T,aml Title Uldg., Phila.. Pa. lembrrj I'luhnlrliil- u ?( re ''-rinno .'Vm) Libert ."in i Libtru 40o Liburtv 20i Ml Liberie 70OH Vletnrv 5(10(1 Hell Telephone 2O0O I'itv s 1!U0. . lOOO phila r.w. 1st 3000 Phllil K ! 1st 2d l'4s 1042.. 3d 4 s 1J'.? . 4th 4'4s 1()3. Is 1023 "is reg. hits 'it '.Ml 7.. "0 7 ."(! 01 30 S7.r.(l f 10 101 .". s.1 S7 GRAIN MARKET Chicago. July 20 Wheat started VjC lower for July and -"V to IVic lower for September and December. Trade was acthe with numerous- hedging sales for small amount in the pit Fluctuations were rapid and held cloely under Sat urday's close. Receipts Saturdny were 400 cars: last year, tifty-one cars. The cash mnrket was off with futures, with exporters buying liberally and a fair de mand from millers and elevator inter ests for mixed The seaboard estimated iimund 2, ."OO. 0(h) buheln worked In all positions. Weather reports show temperotufs a little higher In the Northwent over the week-end, with hardly any precipita tion. Lxpectntions nro that receipts both here and in the Southwest will bo huge ngnin today, with prospects that the week's primary receipts will set u new high record Corn started V4c lower for July. '4c to c off for September and :lsc down for December. Fairly general rnlns in lown overnight caused the easier open ing, which was met by good buying by cah and elevator houses that earned nrlee back up. Oats started ii.o lower for September and Uc to a;,, off for December. Trade was light and affected by the lower opening in other pits. COTTON MARKET New York. July -'- Tim c.ttu.i market opened easier this morning and nine to twentv -three points lower, due to weak cables. Southern and Liver pool selling mid liquidation Support from Willi street and trade interests wos insufficient to obsorh the offerings enrlv and the list declined three or font points further in the face of re ports of light to heavy ruins in the rent nil belt Tno receipt al the ports for the day nre estimated at 10.000 bales against 10 117 babs a week ago, 12!0 bales a ear ng" and 11,000 bales two jears llgo. Financial Briefs FOREIGN EXCHANGE Now York, duly 25. Kates on the principal European centers displayed evidence of r, Mictions nt tlin nnmiina ' The aaron- ....i.- . ... - - '- --......-... .... ..... ..j.......,. .... .....uni f,., ,i in,, twenty active In today. Sterling was off cent, while n,rrld,' "J"?" .,qJxnlplr,"i ''"" i"r eem on the mnjoritj of the Continental ex- MlSnS oVi'ViT r"5t,,,oh"i,!'.,,lv rRl"1"1 elianges were sharplj lower. The ' ' ' ' Allied on 04 01 04 Arkarsa Nat Oaa ... . ini in,. ou Hone Oil 18 17 tS He stun Wyomlns 04 113 03 farlb Svntllcato 4H 4' in Cities Senlce (old) ..,.118'4 117 IIS Cities eSrv "B" ctfe 12i y yi, Crulo 3 3 3 Cuslilnic I'eta IS 111 10 nik Hanln Pet d'i .'iTi 5'4 ray Pot 2 a a federal Oil 114 1V4 114 Olenrrck Oil OS SO 07 Inter Petroleum HVi 11VI lift (.yens sn 80 SO MaracaltHi Oil 21 i 21 Vt 21V4 Mi xlco Oil SO SO SO . Northnest Oil 11 IS 18 I Norn Tet 6 0 n 1 Noblo e 18 17 17 1 Proil Iletlners 3 ".'4 2', Sarulp.i lief 3 3 3 Simms Petroleum 0 a a SUilly Oil 34 .T 3 Texas Kanzer 3 3 3 Texon 07 O'l 07 Tcxon rts 3 3 3 MINING Alaska Itr Columbia ... 38 31 37 Arizona al'tnifDnln Ml M .VI HlK I.eiTs-e 25 23 2.7 lloston (t Montana 73 117 71 Dolores lsperanz 2V4 2 2 Divide Ext 30 III 30 Kl Haliador 31 3(1 30 Kureka Croesus , 51 tl) 51 lioMflol.l ricrence ') 3r 3'1 (lold Zona 12 12 12 llui-mUl Dlv Wo 11 11 11 Hed.i Mltilnc 4'i 4's 4'. Jerome Verde is is 1 ummmtttm yv f iy WfT MAY THE TRUSTEES OF AN ESTATE INVEST IN ANY SECURITIES THAT APPEAL TO THEM?'' No. In many States these are prescribed by statute. In Pennsylvania, unless otherwise pro vided. by the maker of the will or trust, a trustee is confined to the following: Securities of the United States; public debt of the State of Pennsylvania; bonds or certificates of debt of any county, city, borough, township or school district of Pennsylvania, or in mortgages or ground rents in Pennsylvania; and by leave of Court, bonds or certificates of debt of any other State in the United States or of any county or city of such other State, and in real estate in Pennsylvania. 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. S 143 1 vncstnur. oc. 6324 Woodland Ave., West Philadelphia Capital 5,200,000 N Surplus16,OOO,O00 Funds held in Trust more than 250,000,000 ocuiiuintiviniiH. in tue inniii, were II nn. llie quotations follow : Steilmg cab in i,oth cross reMinue and net owraiinir Income Chlciuo. Hoc lslan.1 ...irt I.Jvin." ",f ill. 'Iinuillil-l 1UIIIIW illTI I I I I L' l-IIII- r.jrnel les 3..,Sii. demand 3.."7''8 ; frnn- " .tirnii, .his ,ear xei? ' iSZi, ' tn.T, tables 1.7'IL.,. checks 7.72L.; Delgliin "? nel'h'.'''r'?"'.,,h,,S.,i,", uf """ i-!o cables 7..V,',. checks 7.",D,.; Swiss UmIim f .sann'V "'"LrH, XT" " cable, 10,14. checks 10,11; lire cables i ' JM.372 u'nir VA "o?.!., !!,,','." ".! 4.,t2Vj, checks, 4.32; pesata cables, 1,HS- ?.V 1' t'llt'',;" 12.70; guilder cables I Charles on. r WhIluOk. ),..s im. 31.3,-1, checks 31.30; Stockholm cables , Bcn"ri" wrtnr In the lltm ,,(". T-, " JO. ."5. checks 20.50: ( 'liiistinnlii i-nhles 12.0s, clucks 12.03; Copenhagen cables 1.".3.", checks l,"i,30; marks 1 20; Argen tine 2l).3."i. The rate of premium on New Yoik funds in Mend real today ,ns 12'a The annual import of ih . .u per cent. The rate of ,l,.eount in New , NortKrn'rr'Sn'orV'cS,, pVmeMow. York on Canadian funds was 11 ,WP ?ruur J u?r" " t?x .n-i ih.?,V, '"of th! cpnt h li'-U or ir.H,T-,Sfl, equal to S3 OO Central European exchunges were : ' W.nJ -Jllf.r ' "r i' -' " ? ,"? tj)!? ' r ' ' ' "' ' "c-o i n prt ? Greek, 3.r.2; Itiiiiianiaii. 1.32-74 : Hul- toh?" " -3 . gadnn, .SH; Austrian, .13.".; Polish, I .im,i; i.ecno.Biovnuin, l.'JM.); I'ugo Slnvin, .023. .T-m. l".h.p,nBO nni1 NiittliK.sl.rn It.lluav Er'i'?nrr;- "-KS rrijiais jtiii t,on(J Ititret SATUnUAY'S FINAL QFOTATIONS Ijemand Cfblrl Ia0n.t.h" Juhnp "' ""& n-i" iTnthaf,er n the prif-rred stor'. left 1 I SO per f common i after dividends SterllneKr.it.es Lire (.iuilrlers nsL2f ."( 050 equUalunt to 8K 7T4 IM 5 ,K " ,h" ll,S"- 'rcH . 3 3T ;::, 4 mi si 41 ' . MONEY-LENDING RATES NI.M OUI tMie nn rd II. Iv.ih ,asea nf illsleral npnned mlav St ,',i, ,.- r,n, f r 'eirltrn and renew, r rilll I)i:i l'III- CM it p,r eem. time 0 p-r etn' f,minerclal pi.ter ir.ree to six months, a per ,ent Orteber Deeemher 'anunr . March . May Frr t,ms T'lese Open . VI (13 12 M 13 n 12 Hi . I'l 111 12 SS 13 'It 13 20 . 13 43 11 311 1 on r m 1 .' 42 12 S. 12 S3 TODAYS OPKNINfl Ql'iiTATJONS Sterllm; Fr.1nr In. II11IIH...... Ueniarel . 3..17, 7 72'n 4 .12 31 30 Cables 3 5S 73'i I 32W 31 33 LOCAL MINING STOCKS TONOI'AH STnCKS Hi T HI '17 I.", il III 11 1 -.He insx are mere norn nj iuo-a-it ns the legal rste i,f Iniereii in the State f Pennsylvania llnit ,1xel at n per e,nt ru premium mul r, mmles'nn 1 me moner for ih'rn to nlri ,Jn is ,,,artl st 7 to 7Va oer rent while cmnvrris :pr troin ihlrt to nlneti ,tas 1. loaned nt 7 in ju ler ( ent C. S. PATTON & CO. SI) 4 CIIKBTVTT hTf HANKKKS Siirre-.urs in Mll.i:it 4 sTr.VKNSON Pmirls nml SlncLs lion x lit irtil said ilembers 1'HI I Mnrk Fehaore I (IMXIN M 1 , h ,,i, 1 ,' si 3 ir rp, lusennnt rstes Short lillis , er cent Hi" m n'h' t'l's -.r ,n, DIVIDENDS DECLARED 1 Irterrni ,nH Jlu-'''fc"r iV, i-plirterlv I' 7" n f.re'rre, pajahle September 1 to. st U nf reen-1 Ausrust Hi S'sndird Sanit.irv Manufaet'Kinir i'o iiian'l 2 per i eni on iiimmun and t psr rent m pref,'rre, bnt'i naabe Auirust In to stuck of record .tul 2'i I BANK CLEARINGS Ha'M i lea 'Inns toda ronipare, ith r,,r. responding day last two jears 1H21 1U2II l'll'i 1'hlla Ml noo not) 171 "51 217 .".n 7(1.' 220 ' BAR SILVER j ImmeHtlc bar silver was unchanged in N- York today at till', c foreign rtl I, e. -in I advance of H In London, the price was I '. d hither at 33S d. NEW YORK COFFEE MARKET New York, July 2." The local enf fee futures market opened with trndiug ouiet and without special feature of hiiv kind The morning prices were I'lichnnged to 1 point lower Mid hummer dullness seeuiH likely to con tinue throughout the week unless nn improved demand for actual coffee might eiisilv lie iclUcted 'in more nctivitj in fiitnrf- , ,i The lei elH of a Special cable from Itio lopolling nn advance there of 2." to 100 reis seemed to stiffen up the loi al market somewhat, but the volume of business wa verv limited Septruiuer Cash Uuv Jim Itutler MacNnmara Crescent Mldwav Mlipih Kxt Montana .',, North star e3 rtesiue Kulu .... . S Tonopsh Kxt j, West IJnd . ii. , w est Tonopah . in) I'lVIDK STni KR Allied Divide I, I Alto Divlda nj Helcher m Heli her Kxt m Hen Hur Hrouuh DIvMg m fnvida Kxt .. ,. . . 2; Divide Con . . . . i rdvldend 02 Hasi DUIdu .. .ui Harmtll , . In KnsbrnucK Divide . . o i Mtith Divide .. . Knox .- .10 llevert Divide . .01 Hits) Dlvldi 02 Hoaiitii . .in Silver Klin n .Sutherland ... n Tonopah Divide ... 7n Tonopah Husbrouele , . . ,12 Victory DlvbJ . . no', Verde Dlvld . .. n Z.no ... . 10 mild to 0 o.'i nml Ma to 7 I points above initial hgure- ! S-l 1 " Septeioler 'J;l5-''!2 Mam i'.'Sll"; ,.tay 7 ID'S 21 I Mill ir 4 to i Oren 11 VO 'it 22 il mia 7 7 ill) 7 IHtflO ()OI.tiKii;i.D STOCK'S 02 01 04 111 32 nil "t ill 02 .01 .'U .02 Hooth Comb Fraction ( rackerjarl- Dlainonitneld lllu- Hull Tlorence Oolilde'd Con Oolil llevid .. . do dfleid Drop Ornat llend Jumbo Kxt . Kavvnnus Ine Ht.ir ... . . . Oro . . Ked Hills Silver Pick . Spearhead IVi 10 .01 Ask (IIJ .ll'l Is US .12 .UI) i7 .ii. 20 iiii .Us (ij 03 .U2 111 III 117 211 "I .03 02 12 .112 II) 12 113 III 02 02 112 Ml III III .03 .12 .04 .02 OH lilt, 3."i .IIS 02 111', 113 Oil 02 H3 IKl'j "l It Is offimlh sinied n,t i,n June stain expens-s. taxes and rentals and vvdih wiuij business as Is Indlcmd. Julv ""rnlnis Tshoi.L easily take care uf ,),.. ni0l,., bonS'rntere'i ' Kerr Lake . . . McKlnley Darrafh . MacNamara Nntlonal Tin Nevada Ophlr New Dominion Niplsslni; Hay Hercules Hex Cons Silver Mines .... Silver Hills Nevada Tonopah Divide L'mled Kasiern . . .1. 1 I 17 11) 31 J' l 2 s 11 1A is Ml 2 A IKI.NDS Allied r.i.ker (Is .... I'l Alumnuni 7s H7 Am, r Te Us in J! .. .. U'.i's Amer Tel i,s 12I . . . U7U Anacond.i 7s IU2H . n3t Anclo-Atner oil 7's nil's Armour 7s . . lul-Si llelh Steel 7a lli.tr. . . Ill's lleth Steel 7s 11123 . llH"- Can I'uc Hs H71. Cupper KhiiI ss in.-1 Kiuv, ( opper Export Ss l!i2.i .1ii1"j Ooodrlch Tire 7s ... sn'j Orand Trunk ll'4 H.'i'j Heinz Co 7s tin Humble Oil 7a H7 Interboro 7a 7st3 Kennecott 7s 113 Ills Cent H '-m int)1. LlBKetl Myers lis ll'l', n y. n it s. ii is .: l'hlla Cw lis 11)22 .. .. nil's Fears Iloebuck 7s 1U21 . . IHI'J Sears iluebuik 7s 1U22 lisi. bears ltoelup k 7a 1023 .. nil). Southern Ky 7s . . . . :n!"4 Southwest Hell 7s U."S4 Stand Oil N Y 7s 1020 Kil'5 Stand oil N Y 7s 102S J ill."- Stiind Oil N Y (.'-j s . mill's Slft & Lo 7s . II7H Tixos Co 7s mi-". 3 II 17 O.l 31 1'4 4's 23 11 1A IS 70 -'A 43 l'7S till 7 113'. id's mi's ni'i lisv, U71. imi mi1. SIl'j iir.'n 'in 7S' J mo ini', 33 IHi's mi's US's miu mi, ii.i'-J 111lr l"l " 3s 14 17 1,11 31 'I4 2.1 11 ,,A IS SO .A 13 117 no 07U n:i' mi', uiiS ii i S H H7'. 1004 mi's HH'r, II.",', (Ill n7'i, 7S', II 3 Km' ll'l'", Oft tlll'i OH's lisi. (Hl', nn. "i 0kismMtiitM t SATISFACTORY service is responsible for the loyalty on the part of this bank's customers. Central National Bank of Philadelphia Chestnut Street at Fifth Capital $1,000,000 Surplus and UndMdcd Trofits Earned $4,400,000 112'. in."... mil's ui"1. 07 117'j uiiS sins Secretnr- Mellon .inni.uniei that .lurlim the flsrnl vear en.t-.l Iune ;m the Treiisiirv bought nnd retired J7.H Ii38.ntinn0f l! h" "ty e.'Vo'v'er'n'm'V"1-'1" " P'"clpi. WW- I'r.ink I, Polk ni ! c len ,leeW.,l ,ll';'. .'..'..'", V, ' .."'"" hll V tee...i .:.- VV"."' J.r e Itiillloa,! -... .., ,p j.iuii. stets and Ozdrix Mills re.iunei) The Atnerl to deeenHed, can I'l'trinniini Ii,iiiiiia h,i mates that the dallv- ineriiK,v urnss crinle o I prodiietinn In the rnlt.,1 st.tn ( he eek ended Julv 111 .,. 1 .lns.7111 l.irrels a. "001 pared iv! It h 1 3l2 7.li, bnrrels fr tho precod- ItlK eek II ilecie.sn nf ir,n jnrr.da -- I nf -1 u 11 l.n.V U'i'H '"',' fl"-Oier pavments i.ft .'.ni. . 1 V'1'1 """K" n" the 1.00(1- 00 Of o m,,rlts ,Ue next month The sum alrendv paid .imimnts la 27.1 nnn nnn marks Tentative Railroad Valuations Wushlnietnn. lulv J", rem . i, ,-.i iscnna nf rallioads tlxsd mdu ) th" Interstate i ommorce Commission er, Dallas T.rinlnsl Hallway and I'nlon Depot II Is". SKI. Green Hay and Western iwln-iins'ii' l" 2Us .190 I 1 vnune.- Or ,n He at 1 W'fsiern I Jell 103. Ahnape-j and Western Ostium 1 V s cnnsini fl)7ii His. Hnnsae Tunnel nnd Vvl! n melon HallinaiJ (Vermcnti. Kill 'ill ,m .. vertnc fltreet Hsll'ia (il.--rh'jitl). 11.11 101 1 Amparu Arlzona t'nitsd Caledonli Kden Rmma Milver Kureka Croesus Kureka lloiiv , Ilecla Mother I oif Nevada Hills . Nevada Wonder Success Tscopa Mining . White Cap .... Vlllxrt MISCni.l.ANKOUh I no .07 04 02' .1- 01" 3-' ,1 no 01 11 .02 ,0.i ni .01 sli 1 in 03 II 1ft .03 .10 Hls 4 on of. 112 .is 03 Hi .() .02 The AnerlrHii ',lepnnn.i ftinl Teleiiraph ro announee, that rlshts to subscribe to nver PS pel (ent , f Ihe ts'l spi -,ll now OP 5RiVL.'"n "" ""'." "nd siilrlptlnns re celled thetefnr The 4M 1,. balnine .... malnlpK will b applied tow-r.l meetliiK hub serlptlons nin-adv rei-oli,, frnin ermilnvm under the inmpunv's .vnplowM stotk plif The (leylOKirnl s'iri, states pi o,?ui tp.n uf soft nial fulled 1 1 rm,.r sfier ih. Inter motion b lulv I Ti.til output ibi'inw ib wrnk ended J' lv 111 Is istlmaied 11 : 7 31U nun I'M llHllln 7 U.,s llll.l ni Ih, las ir..r ,!,,, I full-limn 'A.di Awras-e priiiluitinn in r working il i wli'i h d lined fr, m 7 27(1 (inn tins In si.k nde.i J., 2 n I 237 nun in veek of ll'le ,. rnn ,. i,,v ,ns dripped II to 1.227 "On ion," Prices Heavy on Paris Bouroe I Paris lull 2.1 Prices were henw nn the I'miise tndav Three per e nt rentes ,11) 10 Mill, nun nn I nndiMi 40 2H. 1 per rent I, in 1 s2 7n The d Her is i.mt. d lit 12 114 LESS NOISE NEAR HOSPITALS A cii-iiperolle iiKieeineiit between th P It T nml the cltv has been lniie to eliminate, as for 11s possible, thei noise of street cars passing hospitnls ThoinaH K Mitten i-allul on the Major 1 this morning nnd told him Fred (' I)nn lop. chief of Ihe Iiui'cnu of IIIghvvnjH, ' and Mr Mcllr.ilth. of his coinpam.l had made niningemeiits to put new- rails' and pavement nt the crossm;; of Itinml nml Cltlinillie stieets to give relief 1 the Howard Hospital, anil at Fifteenth street between Ilnco and Vine to helpl the Hahnemann Hospital. I LIVESTOCK QUOTATIONS l,ti..l......l. ,..,.. or. ,, , e, r- . .- . ill.irutKlli JUIY at,. , I I I.I. lin I lHS 2U(iil head Sleadj. steers JK.2,1fi s 71 heifers Ktis rois. Ilfftil Calves, receipts 1700 head Unver Top. $11 Hulls - Heielpts llllllll head. Heavies $tii7"'ull heaiv inrkers. Iliht .inrkers on, I plus ll 7.1ti 11 1)0 SHl'KI' AND I.A.MHS Heieipts iiuii bead Sieadv Top sheep, ft ,10 top lambs. S10 .10, lower i'.VI.VKS Hu'elpis 17i'(l head 1 on. r Tup, 111. laist lliiffiilii, N. .. Jul 2ft CATTI.I. - Iteielpts 32.10 head Active 2.1i lib hlsb. r Shlpplnu t, er is Miiuti so bun hers s Ii ,arluiKs Js 7.1f 10, h"lfis. J.I , lull s 7", lows J21I It .10 bulls 1 I 'II 7 stnekers .10 1 feeders. 11nl. fresh mill and flpritlKOrs Sill f 120 Culves. recelp's. 2200. . Stead JI tl II IHnih It. nlpts skOil head Oood 111. luuher I.lBht. Head to 1,V lower II. ,w s 1 1 fi 1 1 .'., mixed 111 ftdJM 1 7.1: orkers 11 71fill S3 light ,orkere nnd pl(.s, ill 7.1 r, unhs JS r.u stliRs J4 .11 iff II Si:i:i AND I.A.MHS Hniahita .1111 hend I.imlis and learllncs stesdv to ftu, I lower Iambs l.lflun.io iearllns JJioft 1 wethers. SftanlfH. ewes llffft. nilxe I I Sheep SI ft SO Liverpool Cotton IJieriioiil, .lu'v 2.1 There was n s.n , i m Qurv for spot i ttotf toilav. but pi Ires w re easier on tho lias' ,,f a decline of 1.1 points far mlddllm at s 13,t The sales were 7n m Lair" The rereipts wire 14 rifln bales in . ludliiK 13(100 b.,es Anirlran 1'uiur, s wire UUlet 111 the nrlv dei.llllKB Spot prices w,re American mlddllm- fair. 10 il'td Bond mlddlln S tlSd fullv tnlddllnsr. S ftSd mMdiiiiK i VM low mliMllna 7 23d, Kood onl nnr il Osd and enllnan, ft 33d WiV LnfMBl ji jBH To Net 8.30 First Mortgage Serial Gold Bonds Due 1924-39 Tax Refund in Penna. full infurmnlion uinn rcntics! Baker, Ayling & Young JOSKI'll . hV,IN. Jr., Mnnaier Lund Title ndg. Boston Philndolphia Paying and Earning Dividends While many large producers are com pelled to be idle, MIAMI COPPER occupies a unique position in the copper industry. The distinctive fea tures of this property are discussed in our circular P.L.-431, now ready for free distribution. WALTER J. SCHMIDT & CO. .lembors Consolidated Stock Exchange of New York Philadelphia: 1323 Walnut Street Phones 1111, Wulnut 4I1() Kejston. Hies 8181 New York: 30 Broad Street 11 Fifth Avenue il' SALESMEN A prominent Philadelphia investment firm, Mem hers of the New York and Philadelphia StocK Exchanges, wants earnest, hard-working, trust worthy salesmen to sell high grade investment bonds. Men accustomed to making good mone) preferred. Experience in bond business not neces sary. Openings available in Philadelphia and in several good territories in Pennsylvania and jew Jersey. This affords an excellent opening and an assured future for men of character, energy ana stamina. In reply give full details of training ana experience. A 735, LEDGER OFFICE AUTOMOBILE INSURANCE l.inF.KTY .Mt'Tl'AI, INM'RANCK CO. rtint Isjut 0010 1022 Jo. 13th St. ! Bonds for Investment Circular I'l"") UN0'' Circular ip ... The National City Ojjg, CotTpoidi;.lOIf'l ;,,'( ' i-iiiiaorii"" :ii. nsirs"" Atlnntlr CIC hJ!J--- A. I stt-fivyyj r,ie TN fc"(smsfsflPPflai(fcss'sv TT-Ssi t'usssitwst. M-H .A.-. Od.'-lvvi n .-.
Significant historical Pennsylvania newspapers