'' Vyj' l"Xt V'.GS? .-H '"V i fi Ji '" V n. if!f Vf'i?': '4i Vf( Vt , , ''X' : fc'. I, n It n. Fl EVENING PUBLIC LBDGER-PHlLAlDELPlalA, 'THURSDAY; AUGUST 11, 1921 j I Georgia Ry. & Power Co. in c Kot. by0 uonui Dun April, 1954 Prlco 7S nnd Interest To yield about 7 Ohio Power Company lt & Ref. 7 Bond Due Jan. 1, 1951 Price 93 and Interest To yield about 7.60 General Asphalt Co. Convertible B Bonds Due Dec. 1. 1930 Price 100 and interest To yield about 8 Republic of Uruguay 8 Bonds Due Aug. 1, 1946 Price 98'i and Interest To yield about 8.20 Elkins, Morris & Co. Lund Title Hide. Philn. New York A Members I'hlni. Slock Exchanges NEW LOW LEVELS NEW YORK STOCK EXCHANGE TRANSACTIONS FOE YEAR SCORED, Big Disturbance Overhanging Market Reported to Be Cleared Up U--,-, , .. 7 'II INVESTING SAVINGS W E SHALL be o-loH rn nccicr y o u in the safe investing of your funds in conserva tive securities yielding up to 8 with safety. Kindly unlf for Circular K-1! CASSATT V CO. Estabhthtd 1872 COMMERCIAL TRUST BLDG. PHILADELPHIA NtW YOB DALTIMOnt-PirrSDOQGM-SCn ANTON e EQUIPMENT BONDS N. Y. CENTRAL 7. 1924-26, to yield 6.40To PACIFIC FRUIT EXPRESS 7t 1926-28, to yield 6.50 CHICAGO, ST. PAUL, MINN. & OMAHA 7. 1930, to yield 6.257c STANDARD TANK CAR 7'2 1923-29, to yield 8 HARVEY FISK & SONS (Incorporated) NEW YORK CHICAGO BOSTON BUFFALO LAND TITLE BLDC. PHILADELPHIA Now Yorlt. Aiir. 11. NntwithMnnd ins the nssurnncc given of the clenrliiK up of one of the disturbing Influence which hml been ovcrhnnglnR the situa tion during the current week, there were mnnv weak spots In today's stock ninr kct with additional low records for the yenr scored. No section of the list, ns n mutter of fnet, wns exempt from weakness. There wns every indication of forced sellinj of speculative holdings for n long period and on which severe losses hail lvcn sustained. While pres sure automatically relaxed on the de clines, the market, as n whole, dis played feeble inllying power nnd drifted into a narrow, apathetic rut. Much of tne inisgiings manifested earlier in the week concerning the un seen disturbance which It was generally i ('cognized was overhanging the market were to a lnrgc etent dissipated over night by the clearer understanding of tins operations in force to clear up the trouble. It was generally understood in fact, no secret was made of it thnt the mntter largely concerned n nnnncinl institution engaged in financing Hie for eign trade ami which institution was in the same difficulties about sk weeks ago. IUravaagnt llgures required to set tle up the differences were mentioned, but those supposed to be in position to know the real facts of the case asserted the amount, while large, was nothing near the big figures rumored. The un fortunate position of the concern is the outcome of the unhappy situation In both Cuba nnd tiie South American countries. While the knowledge thnt another crisis had been safely bridged brought a sense of relief to both the linnncial and market community, there was stir an undisguised feeling of uneasiness manifested which to some extent could be chargeable to continued doubts as to the maintenance of dividends, nnd which feeling was altogether naturul iu view of the unpleasant action of the Amcricnn Sugar Helluing directors yes terday. Virtually nil of the shores which fea tured yesterday's selling movement were ngain weak. American Sugar utul (tcnernl Electric touched new low levels for the year nt J1 - and 114 re spectively. It was the lowest for the Ilrst-named stock since 1801, the first year of its organization. The selling was most pronounced in Union Oil, which yielded IS to 15i under heavy offerings through Impor tant houses. It wns n mntter of gpn eral understanding thnt n block of over 10,000 shares had been carried b specu'ative interests and thnt it had become necessary to liquidate these holdings. The weakness in this stock had n direct effect also on other pe troleum issues. California Petroleum yielded 2 to IMHjj, nnd n number of other stocks In this group yielded around 1 point. The copper shares were oIno heavy, the Utah Copper being in henvj supply and yielding lMi to -H, and there were large offerings of Inspira tion Copper but without enough demand to permit a large volume of business. I'ullmnn Company was another weak feature, yielding lVii to 01 Ms ami American Sumatru Tobucco yielded li to -i-li. Western Union stood out in a prominent mnnner because of absence of offerings nnd scant supply for de livery in the loin crowd, where i pre mium wni paid for its use toduy. Only a few bales were made during the morn ing, on which it rose over II points to above 711. U. S. Steel continued in persistent demand and ielded only 'a to 73fiS' Baldwin Locomotive was down IVi to 723j,. 1101 100 1511 100 toon 103 sua oo sot too ton lan ooo too 3H30 1600 300 100 1310 400 118(10 I0l) 3(90 .M0 1!)0J 131)0 .100 asjo .1100 too 1300 4S0O 100 400 100 0000 4200 100 900 300 3300 300 100 330 000 300 son MOO 100 700 100 1300 o'JOO 1000 100 33011 1100 800 3109 1000 3400 100 300 S00 300 300 30J 100 100 400 300 300 800 niv III t 4 13 High Allied Chem & Dye. .. 37 Allied Chcm & Fye pf. 81 Allls.Chalmers 30 & AlilB-Chalmers pf , . . . 73 Am Auric Chcm 3034 Am Hunk Note S3 14 Am Heet Sugar 29 Am Cnn 30 Am Car & Kdy mj. Am Cotton Oil pf 40 Am Drug Syn H Am Hide & Leather. . . 101, Am Hide A Leather pf 49 Am Ice SSVs Am Intrrnnt Corp.... 31 Am Locomotive 63 14 Am Safety rtazor.... 4 Am Ship & Com 0J Am Smelt & lief 3S Am Smelt & Uef pf. . . 7114 Am Sugar lief 3?4 Am Sugar Tlcf pf B7 Am Sumatra 40. Am Sumatra Tob pf . . 77 Am Tel & Tel 108 U Am Tobacco HO'a Am Tobacco B 119?i Am Woolen 00 U Atmconda Copper .... 35J4 Asso Dry Goods . . . 30 Atch Top & Snnta Fe. 8V4 Atl Gulf A V I S S... 21 Atl Gulf AWISSpl 2C4 Atlantic Pet 13j Atlas Tack Corp IS Baldwin Locomotive.. 7314 Baltimore A Ohio 3"?a Baltimore A Ohio pf . . SOU Bethlehem Steel ... . 40 Bethlehem Steel 8 pt !'? Bethlehem Steel B 40 Urltlyn Union Gas.... fl"H Burns Bros 8SJ4 .. Butterlck 3fit .. Butte Copper A Zinc. . 4' . . Caddo Central O A It. 1014 0 California Tacking ... o?4 .. Cullfornln Petroleum. 33(4 7 California Petrol pf . . 71 2 Cnl Zinc A Lend 4 5 t Calumet A Arizona... 40H 10 Canadian Pacific 113 . . Ontral Leather 31 't .. Central Leather pf... C4J4 . . Cerro do PaBco 34 Vt 8 Chandler Motors 47H .. Chesapeake A Ohio... 6314 .. Chicago A Gt Wcat . 7ft .. Chicago Mil A St P... 20 .. Chicago Mil A St P pf 39 ; .. Chi It I A Pac 3114 1 Chi H I A Pac "To pf. 74 . . Chllo Copper 10 . . Coca-Cola .. Colorado A Southern. G Colum Gas A Elec. . . . .. Col GraphODhone 4 Comput Tab Records 7 Consolidated Ous . . Consolidated Pis Ins. . 7 Continental Can . . Continental Candy . . . 5 Corn Products Bof... 7 H n o 13 13 7 i 0 4 S 8 ft 10 SO 00 2.00 LITTLE ACTION IN THE LOCAL TRADING 3 tt)0 000 3400 300 100 100 1U0 100 100 800 H00 $300 12090 1700 0000 100 100 1330 4030 100 100 100 100 1939 390 330 300 890 100 100 900 990 400 13)0 230 1390 fiOO 3 .10 1) 300 COO 900 100 100 3700 Cosden A Co Crucible Steel Cuban Am Sugar Cuba cane Sugar . . , Cuban Cine Sugar pf. Davison Chemical . . . Delaware A Hudson.. Denver A Klo Or pf.. Duluth So S A At.... Elk Horn Coal Endlcott-Johnson Erie Erie 1st pf 18JJ Famous Players L. .. . 40 Flsk Rubber 9 General Asphalt 40ft 33 V 30 4!a nt 31ft 8Sft 0J4 44J4 OS ft 31114 3V4 14' 014 23i 34 100 1J 3 l'z 8t 13 General Asphalt pf. General Cigar General Electrlo . . . General Motors Gen Motors deb 7. Goodrich B F Grnnby Coneol M & Gray Davis ... Great Northern pf . . Gt Nor Ore rtfs.... Grene Cananea Cop. Gulf State Steel M 83 SO "414 10 7114 3.1 1G 11 73 20 21 31 Houston OIL 49ft Hupp Motor Car 10ft Illinois Central 03 Indlahoma Bcf 3 Inspiration Con Cop . 31ft Interb Con Corp 3ft Int Harvester new. ... 73 Int Mcr Marine Oft Int Mcr Marine pf 43 International Nickel.. 1314 International Paper . . 4814 InteT Paper pf stpd. . . (It Invincible Oil Corp... 7 Island Oil 2 In Jewel Tea 0 Kansas City Southern 24 7 Kelly-Sprlngfield Tire. 30 I.o 35 K 13 37 ft 73 20 8014 37 Ji 35 ft 133 40 4tj 1014 iK H'tVi 30 t2t a a ? 34 71 W 87 44ft 77 104J4 H8l 117 csu 3414 30 t3Jj 20 30 Ji 13 Vt IS 73'4 no so vi 48' 97 12 4SK OR U SS's 36 J IV in V 801.4 30"2 71 l'i 40 11214 30 C3 24'j 40'2 53 7W Hit 3114 30 74 OH 31 30 54 414 31ft 85 ft 014 44 ft 05 ft 25 63 Ji 1314 8-0 23), 31 100 i!4 3 1714 5714 13 ft 1814 4JJ4 014 40 ft S3 50 112 ft 10 71(4 3114 10 11 73 20 20 ft 3014 40J4 10 ft 03 2 31 3ft 7114 Oft 41 !' 13 K8 45 7 14 714 2ft 9 2174 38)4 I 30 Net 1'. it. Chuo, 3514- 114 8.1 -.10 -73 - ?0ft 5014 tm- 25- 133 74 40 - 414 1014 - 49 - 5514 - 30 - 8314 - 37a- 07ot 34- 7114- 3 ft 87- 44ft- 77 104 Vn - WW - 117ft- IHV 3414- 29 8414 r 30 -20 V -1214-18 7314 -311 -6014 49 -07 '4 -J8W,- .SJ4 - 8S'j -20)4- 414 10)4 89 14 - 30 71 4 -30 -03 -24)4-40)4-83 - 7ft ft-74- 97i -31-30 -54 414 31ft -85 ft- 014- 44!j - , n - 13)4 - 8?0 23U-- 31 100 11-4- 3 - 1714 1814 47 74-014-40ft-3 -60 113'4 -10)j-71 ',2 31 !4- 10 - 11 - 73ft - 30- 31 30 )4 - 40)4- 10 ft 03 - 3 31)4- 3ft- 3 V 1)4 14 14 14 14 1 Vt IK ft 14 14 W 14 lft IK V) V 1 14 14 V Vt lft 1 i"4 V 14 V '- 14 I - 314 '4 114 lft 1 14 W Kb 114 lft ! ft i 14 IV , - 3i 1 '4 Vt - Ji V 114 14 1 14 1 3 IVi i.i 14 1 1 In t "lnh 8 Kelly-Spg Tire 8 pf. 70 .. Kennecott Copper ... 1R .. Ketonc T A n 1314 .. I.ickawnnnn steel ... 3814 Lee Rubber Tiro 2 14 Lehigh Valley 81 . . Lima Locomotive .... u . . Loo wo Co 1 1 14 7 Louisville A NnshvlllelOO .. Marland Oil 1374 .. Maxwell Class A 41 IS Mexican Petroleum ..07 3 Miami Copper 1074 00 Middle States Corp... 1114 .. Mid vale Steel 23 ft .. Minn A St Louis 1114 .. Mo Kansas A Texas.. 3 .. Mo Knn A Texas pf... 34 .. Missouri Pacific 1014 .. Missouri Pacific pf.. 30 7 N'at Clonk A Suit pf . . 0114 .. National Con A :ablo. 114 4 National Lend 7314 .. Nev Con Copper 7i 0 N O Tex A Mex 84 8 New York Central.... 09)4 . . New York C of St L. . 53)4 100 3, BO New York IX.ck 30 300 .. Now York N II A H.. 10 200 7 Norfolk A Western... 04 North American 6014 Northern Pacific 70 Okla Prod A Ref 174 Otis Elevator 88 Otis Steel 0ft Pacific Oil 3414 Pan-Amer Petrol .... 48 Pan-Amer B 30 Pennsylvania R R....3714 Peoples Gns Chicago. . 83)4 Pero Marquette 18)4 Philadelphia Co 20 Phillips Pet 17(4 Plerce-AtTow Motor., 14 Plerco-Arrow Mot pf. 2914 Plerco Oil 7 Pitts A W Va 20H Stales 100 3090 1000 .. 400 .100 3 100 S.80 100 600 100 7 1000 100 20500 IS 300 3 1000 1 1100 200 300 100 800 1300 100 100 100 000 100 600 100 300 0000 100 100 300 .1500 3800 200 2010 2500 5)0 200 3800 4800 100 300 000 300 4000 1100 3000 .100 200 2O30 800 100 100 Car 8 Pressed Steel Pullman Punta Alegro Sugar. 4 Pure Oil 1 Railway Steel Spring. . Ray Con Copper. I Reading 67)4 . Republic Iron A Steel. 48J4 7 Repub Iron A Steel pf. 84 Ropubllc Motors 8)4 aty 0314 2814 20)4 7314 1214 1100 5.20 Royal Dutch N Y 400 100 300 100 60 St Louis San Fran. . . . 22 14 St Louis San Fran pf. 34 St I5Uls Southwest... Mft St Louis Southwest pf 33 ' 1 0ft 4 1 14 -13)8-40 -07)4- 7- 2ft 0 -34 74 38- 14 17. 3)4 14 14 V 74 100 .. Santa Cecelia Sugar.. 'IV 100 .. Savage Arms 11 390 .. Seneca Cop Corp 18 1300 .. Sears-Roebuck 05 100 .74 Shell Transport 3014 14000 .. Sinclair OH 18 )8 3S0O 0 Southern Pacfilc 70 1300 .. Southern Rail 19 700 .. Southern Rwy pf 45)4 100 s Standard Oil of N J.. 130 100 7 Stand Oil of N .1 pf . . . 107 100 7 Steel Tube pf 70 100 . . Stromberg Carb 20 lS'.O1) 7 Studebaker 74)4 200 .. Superior Oil Corp 4 200 . Tenn Cop A Chem. . . . 7ft 8100 8 Texan Co 3414 1100 .. Texas A Pacific 22)4 4100 1 Texas A Pac C A O. . 17 3300 o Tobacco Products 67ft 100 7 Tobacco Products pf . . 80 890 .. Trans Con Oil 74 100 8 Trnnsuo Wm Steel.... 33 100 s Union Bag A Paper. . . 00 13500 .. Union Oil 17 74 1300 10 Union Pacific 119)4 100 4 Union Pacific pf 04 200 .. United Alloy Steel.... 2314 500 8 United Drug Mft 700 0 United Fruit 103 300 . . United Rwy Invest pf 19 3009 8 United Retail Stores.. SI 14 5500 .. U S Ind Alcohol 48 h 300 ..US Food Products... 10ft 100 ..US Renlty A Imp.... 40 4100 . IJ S Rubber 60)4 300 8 U S Rubber 1st pf 00 100 .. U S Smelt A Ref 2Sft 11590 8 U S Steel 7374 10100 2 Utah Copper 40)4 100 .. Vanadium Corp 37 ft 300 7 Van Raalto 1st pf 7914 100 .. Wabash 7 300 .. Wabash pf A 20ft 500 Western Maryland ... Oft 400 . Western Pacific 23 1300 . Western Union 70ft 1230 4 Westlnghouse E A M. 43)4 100 7 Westinghouse A Brake 8714 300 . Wheeling A L E 8)4 300 4 White Motor 31 2 390 .. White OH Corp 8)4 000 .. Willys-Overland Oft 100 5 Wilson A Co 33 300 0 Worthlngton Pump .. 38Ki law 70 17 13 38 3014 61 64 11 100 13)4 41 05)4 1074 10 74 23 1114 1 314 18 37 Vt 0114 w 781-4 974 61 6014 8314 30 1874 01 59 7414 IJi 88 Oft 3.1 4474 39 37 61 1814 20 10ft 13'4 20)4 074 20 5S 1)114 27 25 73 1214 0014 4514 84 814 10)4 23 14 31 23)4 33 214 It 1474 cm 3C)4 18 Vl 75 ft 10 45 no 107 70 30 73)4 4 7)4 33)4 31 10)4 rsv 80 Oft 33)4 CO 18 V 118 ft 04 ft 23)4 63 ft 10174 10 50)4 47 1014 40 49 ft 05)4 28ft 73 44 27 ft 79 7 20)4 014 23 ft 77 ft 4274 87 '4 814 3114 8 0 33 30)4 1-3(1 v. J. Net Ctwe. 14 ""l4 3 14 314 3 14 tt "14 "l4 14 1 70 - 1 13 -3S -SOU 61 04 11 -109 -1314 -41 95)4 -1974 -It 3314 1114- 2 314-18ft-3714- 8114 '14 114 7.1K- W 974- Vt 64 0014 - H 83J4 114 39 1574- 94 -59 -75 - 17i 88 - 0 33 -45 -39 -37 51 -1814 -20 -10 ft-1314-39)4 074- 30 -68 -91 14 -37-35-73-1314 0014- 4514 84 814 40 . 214 11 15 05',-3014- 1814- 75 ft- 1014- 45- 130 107 70 39 -7374-4 -7-33(4-31- 10)4- 6014 80 - oft- 33 00 -1614- 118ft-01ft-2314-63 ft 103 -10 60ft-47ft- 1014 40 60 14 1 114 il4 14 H i 14 I 114 14 14 14 1 7i 114 Hi ' 14 Vt V COAL STOCKS TAKE LEAD ONTHE CURB Farrell Drops Under Increased Offerings Motors Inactive. Oils Foaturoloss 14 'o 14 14 ft 114 1 3 14 2 314 14 ft 14 14 114 New York, Aug. 11. The cool stocks continued the most prominent fenturcs In the trndlng on the New York Curb, Glen Alden Coal and South- em v;oai ana iron nomiug " -. Farrell Conl. which was in demand a couple of days ago, yielded from 1- to ll'ii under increased offerings. Outsldo of these Issues the market was quiet, tthowlng little change in the trading position in any of the lending stocks. There was little interest In the tobacco issues, Philip Morris selling at 3 nnd Tobacco Products Lxpott wns traded In during the morning at Motor stocks were Inactive nnd with out fenture. A sale of Continental Motors was mndc nt 15. but the mar ket in other issues in this group con sisted chiefly of quotations that wore, too wide apart to permit n material lolume of business. Radio Issues were traded in nt unchanged prices, the com mon selling nt 1 and 1 n1 thc preferred nt 1 nnd 2. Interconti nental Rubber was quiet, a wnall amount of business being transacted nt 7. The petroleum group wns also with out specinl feature, business being sluggish and prices were generally un changed. Cities' Service sold in small volume nt 110 and the Hankers' shares were traded in nt 13tj. Cnrib Syndi cate wns stendy with sales at 4. Mara calbo showed a weak tone, selling nt ly. to 104. Elk Ilnsin wns also in moderate supplv nnd rouged from 0 to 5"i. Stnndard Oil of Indlnnn wns dull, n smnll amount of stock changing hands at 00. Mining stocks continued active, Hos ton nnd Mimtnnn liclne a strong feature in thnt stock. Florence (ioldlleld wns also In good demand nnd hurckn Croesus nnd Nutionnl Tin showed n steady tone. INIIUSTMALS HlKh Acme Coal , Acme I'ucklnc J Continental Motors 5 Empire Kood - Parrell Coal 12. Olen Alden Col .,... 3-14 Inter Ilubbr ' Motor Products 43 l'erfectton TIru 87 Phillip Morris '-IS Radio Com ' ItaiJ.o Com pref '- Ilepubllc Tire nub . 3.1 Southern Cenl & Iron 3 Tob Prod Kxp . . . 'i' U it .Ship Corp . . 1 V 8 Steam ... 3D United Profit Sharing IS Strvlee and Stability The Cheerful Atmosphere of our bank will con vince you thnt tho ren dering of efficient scrvlco is a real pleasure to our force. We particularly solicit c o m m o rcinl accounts ; nnd in addition to tho usual banklnp; accommo dation, we offer you the varied and complete service posslblo to secure in a modern Trust Com pany. ' Integrity Trust Company Fourth nnd Green Streets Capital SS0O.O0O Surptut & Profit ...$1,760,000 2.v$ wsw. Analo-Amer iihtoui ! i. ... Stand Oil of Ind STANDARD OII.S on ic ir.'j . 09 1 1:30 Low P. M. J 1 82 .124 11H 1154 3 34: 7 7 48 43 87 87 3i 15 IT. 3 3 3.1 2 3 Mi OH HI 11) 33 33 i" IS IB 15 152 152 ouS ovH INUKPENDENT H1LS !.r aj2 m Siln r- I ' m IB' I i I tvaum You Can Buy Bonds Now In convenient partial payments nnd so obtain tho higher re turns which they nfford. Our new department will uladly explain how you cnn apply your regular saving to tho Im mediate purchase of bonds. Wo will mall our booklet "In vest as You Save" upon request BATTLES & CO. Established 1800 I Independence Sqnnro (Eatt) iimimiiiinmraimiinnaiiimmnRafmirniriHmiiui;!iPimiannffliinnnmrrrauniHraii 1 Readjustment of ALLIED PACKERS INCORPORATED T! Plan and mirnrmodlJumS ncrgreKnte in excM ' ilvi of the Debentures, 56 ntU Preferred Stock and 63,. the Common Stock. fiZ of these large deposit, tho general approval of Plan as modified the (W mlttee hns extended the tlZ within which deposit, maft made Until the close of m!f rZZ 0cnSTfEMB,ER 1B- S The Committee Is unwilling to attempt to consummate thl nnrl lln1Bo ,U1,I- il- !rai now- fixed additional deposit! In larre amounts are made aa that the Committee will fed Justified In taking stops to carry out tho Plan it wil abandon nil efforts to consum mate the same. Dated. New Tork. Auirust s, uji OKDHOR W. PAVtSDV. rh.i,-.. ri.lPTON It, DWTNNrr.I, ' .T-MPH P. 1f.NtAaRN JOHN Ft.ETCUEtt HKniiF.nT t. poster WH.MAM A. LAW KPWINP I.TCW1R Commute, C. E. Sigler, Secretary 80 Broadway, N. Y. City - l - 14 n.1'4- ,114 2bft- "3 ft-44ft-21ft-10 -7-20 '2- 014 23 ft- "14 43 - S7'4- V 3114 8 0 33 -3614- 114 Vt 114 14 ft 14 14 14 214 14 3 14 214 FOREIGN BONDS Before the war the External Bonds of South American Gov ernments were in large part issued in sterling and negoti ated in London. Now sterling is down and the bonds can be bought at less than 50 of their par value. They offer investment merit and good speculative oppor tunity. We invite inquiyy regarding these bonds. HARPER &TURNER Investment Bankers UcmbcTJ of Philadelphia tffocfc Exchangt Stock Exchange Building Tl "1 1 1 1 rnimueipnia ueadm Srranton tffCS5 BH-S,V22, Spruce 8200 A Nation-Wide Market for Liberty Bonds Victory Notes and Treasury Certificates 8ECURmES DEPA11TMBNT Commercial Trust Company Mtr Fedml IUmht Srtum Cky Htll Square Wat Dealings Were of Small Pro portions and Price Changes Meaningless A falrh Heady tone was maintained in the local market, but tho dealings wcro again of smnll proportions. The mnjorlty of the local contingent evi dently are still content to remain on the side lines and look on rnthcr tbnn par ticipating in the confusing situation. The extension granted the Pennsylva nia Railroad management by the Hnll road Labor Hoard to settle the ballot controversy was without effect. In fuct, tho dealings In thnt stock were about the smallest witnessed the cur rent year. Less than fifty shares changed hnnds during the first three hours of the trading, with thc price un changed at 117. Moderate selling of Electric Storage Battery caused thnt issue to fall back to NWVt. nn overnight decline of and nearly 7 points from thc top price scored a week nso. No change wns made in the utility group, and little was done in any of tiles,, stocks. The growing bitterness of the local political battle threatens to side -track both the Philadelphia Hapid Trnmit and 1'. (J. I problems for further consideration until the fall. Considerable IntereM wns manifested In tho report of the operations of the General Asphalt Company for the first nix months of th current jear which were published todnj . This showed n loss In trading account of the General Asphalt Company itself nnd its sub sidiaries of $570, 17-1 to which is added $.'l.1!!.383 nrbllrnry depreciation charges, making n delicite for the period of S!Ml,.r77. of which $7:il,IUtl accumu lated in the firit numtcr; the delicite in April being ."$l."H,."m nnd iu May s."il).:W:t. There was detu ite of yl, .',":! m dune. The combined sheet ns of June 30 -hows S7,771i,l)3b current assets, of which $4,350,1)07 is Inventory and S!)S2.07 cash; with SUJOii.-MO cur rent nubilities, of which S1.U1!.".000 is notes linyable, $523,378 accounts pay able nnd $243,051 robcrved for income taxes. The inventor Is found, tho rtj (ivablei aie good, and the (oinpnny is in easy position financiall BANK CLEARINGS Commodity Markets MARKET I 11. Wheat started! with September iic lower and Deiem-1 hiM- a.e to lc oil on .scattered GRAIN Chicago, Aug llr.nk rlvnrliiKu Uxln'. i A.nnmflnif dav last two I'lii ft jss.ooo.nnn ss,;..i(m 717 I'hl'ORO 82,000. (100 lOI.L'Oll.lllR rtoston. 40 7111,303 (Initio 771 IlKlto . 1),S43,110 UltCil&lS. S V .. BB4.000,0(iO 720.UM,7ai 712,400 134 iiiii'trcd Ith cer-eaiH loin ll',UO3,0fi() sion house selling, iiuying uy uii cusi ern house de eloped on the break, and the market had a recovery. The vol ume of business was not large. Re ceipts inspected yestcrdny were 253 cars; Inst year loo cars. im u market wns relatively strong, with a good demand and moderate offerings to arrive. Export business in all positions yes- terdav wns clost to 700,000 bushels, ' with "local houses workliig 430,000 bush- els here and 2W),UUU DUrtieis irom au outside market. There were sales also of 20.000 barrels of flour. The weather in Northwest Canada continues unset tled, with ncattered rains where the crops need fair weather to mature properly. Thc American spring wheat harvest is progressing rapidly, with tlueshing re turns showing smnllcr yields thnn ex pected. Trndo lenders in various state ments tell of a change for the bettei in general business conditions. Corn started fcc to 'ic loer for September and sC to c off for De cember, with scnttercd commission house selling, followed by buying by Eabteru houses. Oats opened with September and De cember practically unchanged. A lit tle hedging by cash interests was offset by commission house buying. COTTON MARKET Now York, Aug. 11 Following tho lend (.f Liverpool cables, which were considerably wenker than hail been due, the cotton market declined It to IS points nt the opening today under Liverpool, wall street aim soutnern wile house selling. Aditig nn further reports of hot, dr weather in the Southwest, locnl oper ators nnd houses identified with the trade were fairly good buyers on the sotbnek. This support gave the list a better tone, so thnt nt the end of the first fifteen minutes values were steady and nbout 7 or 8 points up from the opening. ' The receipts nt the ports for the day are estimated at 7000 bales, against 11,21" bales a week ago. 11501 bales a tear nuo and !2!)il bnles two .eiirs ago. smnll volume of business. Some nttcn tion was being paid to switching opera tions, September being exchanged for March at Ml points and to December nt 40 points. I'rewoui Clnf .September ' 43 i irt ber Novomlr I)t-i'!inue,r " eS January Pebruary March 1 20 May T 41) July Bid. Financial Briefs n nilgai o no 11.73 tl.o: (3 07 7.05 7.20 7.3.1J3S 7 .14 11 Oil 7.75 FOREIGN EXCHANGE Ney York, Aug. 11. The foreign exebango market opened irrgular. Sterling cables were 3.05.i ; demand, checks, checks, checks, checks, i hecks, 12.S5; cables, 1.23. 3.05V4. Franc cables, 7.S4 7.83. Belginn cnbles, 7.00 7.51). Swiss cables, 10.00; 10.87. Liro cnbles, 4 30 ; 4.38V.I. Peseta cables, 12.0(1; checks, 12.9-1. Guilder cables, 31.00; checks, 30.95. Stockholm cables, 2O.05 20.00. Christianla cables, checks, 12.80. Copenhagen 15.78; checks. 15.73. Marks, Tho rate of premium in Montreal to day on New ork funds was 10 13-Hi per cent. The rate of discount iu New York on Canadian funds wns 0TS per cent. Central Kuropenn exchanges were stronc. Greek. 5.05; Uumunian, l.HOVii ; Hulgnrlnn, .S5; Austrian, ,1-li ; 1'ollsh, .05 Vj ; Czecho-Slovnkla, 1.2(1; Jugo-Slnvla, .(i2"j. Yi:STEllDAY'S 1'INAL QUOTATIONS Sterling I'rancs Lire flulldere Demand .... S 01V. 7 SI 4 .'IS '4 HO 00 Cables .. 3 US 7 S14 4.3U 11105 TODAY'S HI'IININO Ql'OTATIONS Sterlln-; Krancs I. Ire Uulldnre Demand . 3 "''. 7 Z 4 W4 30 05 Cables . Hire of cauliiment hnn nui, nn imn.t.n Pu.T.Jn h,'-.!.-nul? Southweetern's earnings Mr June, and the itlx months and refluots. In a certain meneure, hat the ,xtent of thin inr s business deprnstlon has been. Non operating : Income was only J4U4.2SS for the lx months of this ycur nxalnnt 100(1.287 liist ye.ir, showlns a ilecrcaae uf $441. SOU. or WfinVSh "T" .iuP.'.'!.v-i,Pr?tl" income ....o ...,uiu, .KHiini .n,ofu lust ye.ir. decrease of 1103,004, or 72 Der cent Endlcott Johnson Corporation, for the pe riod from January 1 to July 2 reports net profit, after Federal taxes, depreciation and ?Q'riBC.'"'nrr",' AWM?' adjustments of Inven tories, of I1,U37.U1D. equivalent, after deduct- ln'nI"'n,"lte,d,,'LWll.,.'", t0 4-2 ft "hare (par ffi on iu'8uv.VJs out.tandlni- common. Ji,'f?mI)art:, wl,h n,t Pro""" of 12.070.028 or 14.70 a Bhare, on 110,300,000 common iri corresponding- period of 1020, tu'"mon ln The Dank of Knutnnd minimum rate of discount remains unchanged ut 54 per cent. T.h nvriB price of the twenty acllvo In. dti.trlal itocks docl ned 1.2(1 rjee rent v... tr.in , nn ni ...1.11. .i ". ' y collv yes Hoston Wyoniinc OS Carlb S.ind ... 4 Cities .servlco (old).... . 110 Cities Hertlco "U" ctfa.. 13Vs Kdmunds li Kl kllasln l'et Olenroclt Oil ') Hudson Oil l'l Lyons l'et 1 .Miiracnioo un n Merldan I'ot 12 Mexico Oil ; Salt Creek Prod 10J Hlmms l'et HH Hkelly Oil Js Hpenccr ret Texon s MINING Hoston & Montana Cresson Qold Kl Salvador Uurrku Croesus Ooldfleld Florence Knox Divide Magma Copper Mother lxde fit Natloifil Tin Netatln Sller Horn Nlplsslnx HlHer Mines of Amorica . Tonopah 1)1 I Ja Tonnpan jiininic United Eastern . West End Con noMis Amer Tel 6s 1022.. Amor Tel Us 1024. Anaconda us ..... Anulo-Amer Oil 74 Al.tiojr 7s . . Ltthlehem Steel 7s 1U23 Uethlehem Mteel 7h 1035 Cun Nat Ilw hi 7s . Clilcsico t'n Hta ii. t upper Kxport Ss lU-'a (.opper Uxport sa 1025 Uoudrlch Tire 7s Grand Trunk (l'l. Oulf Oil 7s Interboro 7s Libb-.McNulll 7s l.lKKi'tt ft Mers 0s hrais-llni'butk 7h 102.1. snU.iv Nn ... humd (HI N Y 7s 10JS . Htnnd Oil N Y 7" 1020 . CUrol Oil N Y ' s Sun Oil Si Swift Co 7s 1031 HwIhh 5Hs Texun Co 7a United Druir Ss United Hwy Havana 7H s West Kleciric 7 Western Union OMi s . 67 4 111) 'II in i Wi 12 (10 w, 1 73 07 4 110 '?H 70 111 t 104 12 02 "4 3 1 73 70 14 IS 37 41 12 17'. 4 00 5 4s c1A fill 1A. 2 V. 77 OSj. OS in IS 35 40 12 17 S 58 .- 4; i 78 1A 77 08H 1)7 H 88 S lUO- VH n ,h. ..... declined 0 50 per cent to 72 OJ. yes- rullroad. 1)7 . 88 .100H . 97S B. I)4t .101S .103' .1004 101J4 117 UVt . 774 0'. 1004 "7T? . 00 4 1024 1021 I02J5 10-.H .1004 1UOS . 00 ' .100 . 04 .lOOi on i 18 35 40 12 17 SS 5S 5 4'i 1 78 If. 77 03H 117 . S8 4 100S 07 1-3 li7i 08 4 1)8 4 Legal Investment for Nciv York Savings Banks $50,000 Baltimore & Ohio R. R. Co. Pittsburgh Junction & Middle Div. 1st Mtge. 3?s Due 1925 To yield 8 Blodget&Co. Real Estate Trust BIdg., Phila. A booklet that will post you on 800 securities the high and low prices for fik I nUCEIUNCE mnim July and the years 1910 and 1920 and the par, capitaliis tion and divi dend rate oa 8 00 secutitiei traded on New York Curb Mar ket and other exchanges, August l88uc given without obligation Ask for TlHlS PHILADELPHIA OFFICE WIDENEP. BUILDING Telephones: Bell. Locutt 47M Keystone, Race 6861 BALTIMORE OFFICE 483 EQUITABLE BUILDING Telephone: St. Paul 84SI Direct Private Wires New York Chicago Boston Philadelphia Flttaburgh Detroit Baltimore CleTclaal Jones & Baker Mtmbr$ New York Curb Markit Boston Chicago Walnut 160C New York Race 43G9 04 1014 10V. 100 1014 0ll 07 07 4 774 OS li0 07 4 004 024 "7 01)4 100 04 1004 004 044 1014 ln:i' 1004 1U14 1104 07 4 974 774 H"i ln.m 014 li'.i's KM 4 UI24 1004 824 07 4 78 00 4 100 04 11104 $04 Philadelphia Stocks 3 054 7 84 4 30 31 00 DIVIDENDS DECLARED quarterly September 3 r 10 to liar silver at 874 d. BAR SILVER was up 4d lrr London today Reserve Banks' Discount Rates Offlctil rediscount rates at the tilve Ktd nil Heiervo Hanks uro a. follow rreim i.io cifs bonds r.4 Ji C. S. PA1TON & CO. SD rilKrtTNlTT 8T9. IIANKUKS Rneeesseht to .AtT-Kjl 8TBVKNSON I '? k"" nd ' I'uston , ..ii flii -idelpi.ia 1 eelnnd 1 ir nnnd AH.i '' I I Im-aKo Hi Louts . Minneavwlls Kansas City . . Dallas . . Han Kr.nolsco... Discount rat rat corni "I 54 11 11 54 11 54 d il 54 5 4 S'.t Com' I paier Ilkrs accept ft Sit v tral, wit) 54 II I) II II 54 ".4 0 (I U 04 n II 54 fl A II 64 BU 64 corresponds with Intsrejt oatta a. coliat- oent. n 0 55 II August Hiptember Octobir D'-reinber January . March ... f July .... Previous I'lOH . 1J.N7 . 13.02 . 13 21 .. 13 71 . 13.74 Open 13.10 13 51 18 58 13 02 13.05 14.02 11 A M. 13.10 13 5't 13 01 14 02 1 V M 1.1 "O 13 45 13 47 NEW YORK COFFEE MARKET New York, Auk. 11. The stronr Urazil initrkctR and nilviinee In Klo ox cliniiKo on London led to n letter feel injr nrotind the locnl ring this morning nnd on the cull priced worked ," to 7 points above the previous closing tiKUicH. There were indication" that Europe was again buying here through one or two Wnll Stret ttrirui. Aftir (lie curlr bulgo bad carried values 7 to 8 points higher, realizing vet in on n slackening of demand and prices wirketl off 4 to 5 points on a yerV st.ady, unchamted. Atluu Powder .1 i inp4n cnt on cummon. payable .inpii of record August 31. United Htaten Uypsum Comran) luarierly 1 p.-r com on common and 14 ijr cent on preferred, hith payable Heptember 30 to stn-k i'f leroid SepiemUT 15. Koith Philadelphia Trust company, fjuar ttrlv 4 per rent, payable August IS to stock of rirord Aucust 1 Amorlcan Telocraph aid Cable Company, quarterly 14 lr cent paulilu Hepternbir l to stork ot recoid Aueust 31 Ameiican Locomotive Company iinriorly V? per rent on common, and 14 pel c nt on prtfoircd. Uith payable .September 3ii 1 1 Hock of reroril ."eptemrer i.i rnlon l'ai'ine uawroad company quarterly ift i.er rent un iinvni'n and sent -aniiuitl li per cent on preferred, both paynblo October I to hiock oi recora nepiemucr iu Southern I'.icltlc quarterly 14 Per cent, payable October 1 to stock of record August 30 Newmarket Manufacturing- Company, quar. terly 24 per cent, payable Autust 15 to stock of record August 0. LIVESTOCK QUOTATIONS rittklmnh, Aug U. HOOS Iiiielpts. 2500 head, Market lower Heavies, jll, heavy yorkurs Hunt jorkera. 411 75''l 12, piss 11191 50. HIIKi:i AM) I.AMUS nenlpts R00 head. Market steady Top sheep J5 50, top iambs $11 CAI.vr.8 IltrclMs 150 head. .Market steady Top, 110.50 Kiixt lluiralo, Auii. 11 CATTI.r-ne. calpts, 175 head Steady I ulves receipts, urn hnd Wteadj S5i 10 50 IIOOH- Receipts 2500 head, fllow, R0O 75o lower HcavT. 110 25010.75; mixed, 111 "jut 11.50: yorkerm and llsht vorkers. tll.60Wll.7S.' pits, 111,50; rough.,' SS (tSH. I4.0IHSI1, aiiEttr ainu j.Aiiua necipi., ouu n, ??. .iT,erl,c,anP,i',rolcum Institute e.tl mutos that Ihd daily avrraue uraii -r,iri on production In tho Unit, d States for the week ended Aueust 0 was 1.315,840 barrels, ns compared with 1.314,210 barrels for the preceding- week, an Increase of 1600 bar- Thera has been ndnrlttrd to the list on the Nfw jork Htnck i:clmtnn Uf public or Uru Kuay J7.600.000. .'fcitlonal City Company. Interim receipts for externul loan twenty-flve j car 8 per cent sinking fund gold bonds, duo August 1, 10411. whnn Issued Substituted on the Hit the Pennsylvania IUIlroad Company permanent en-graved 100,000,000 Hftecn-year 114 per cent secured gold bond., due Fob. ruary 1, 103(1, In lieu of temporary bond.. Substituted on tho ll.t the PlttshurKh. Cin cinnati. Chicago and St. Iyiula Ilallrnad lompany permanent engraved $20,01)0,000 general mortgage 5 per cent gold bonds, cor es A. dim Jnnc 1 1070. In llou of tern porary bonds Republic of Uruguay bonds will be printed TOY. Western Union Bond Issue New York. Aug 1 1 Tho Western Union Telograph Company yesterday sold an l.uo ur fio.uuu.uuu niienn-year noncallable 04 per cent cold bonds to Kuhn. Loeb A Co . which will be offered for subscription today at 09 per cent of par and accrued Interest, to yield approximately 0 00 per cent. It held to nraturlty. The Issue Is the first of capital securities tnado by the corporation since 1907. Tho stock outstnndlnc on ivhlch dividend, have been paid at Intervals since 1H74. and since 1017 at the rate of 7 per cent, amounts to 100.786,727 The fundod debt of tho cor poration. 'J1?'"'1''-"' ho present Issue, amounts to 148,001 000 Tho purpose of the Ihsuo Is to reimburse the treasury of the Western Union for ex rendltures made on account of extensions uddlllons anil impiovemenis to It. plant and equipment outside of N"w York anf to pro- lue luimn ..', (uiwii-i uAiciiniuns. High , 282 Klec Stor.104 147 1 Co X A 20 20 Luke Sup 7,i Jill Lch Xav. o:t 15 Leh Val.. .11 i SOOtOkla Itcf 1 20 l'a II n . ItTVei 8 Phila Iiih Wire... TiOij liniMilhiKleo 22 US do pref.. 20 20OIhilnRT 101! 20 Pitts Conl 54 125 Tono Mlu l'i 25 I'n True .'I0U. no v c, i... :i:ii !10 Weit Jer & A.... 30 1:1 R Iw P. M. io:H:)i io:i!i- 20 03 51 Mi 1 :i7 501 22 '4 ?srj 54 IU an Mi 33 29 7 4.. 03 .. oi-Yi 1.. 37 .. 50 V3.. 22 f 101.. 54 .. VA.. 301. 33";5. Net Chge. - MIDDLE WEST UTILITIES CO. through its subsidiaries serves 507 Communities in Fifteen States Wo Offer Its 20-Year 8 Secured Gold Note., Series "C," 1940 At 95 M to yield SWe Circular L. M. on rtquett Fairman & Company Drezel BIdg., Phils. Kstnbll.hrd 1002 A. H. Bickmore & Co. Ill Broadway, N. Y. DON'T SEND FOR THIS BON of Graphic Charts UNLESS you've made up your mhl you wish to take advantip of the present never-to-con again opportunities In tk STOCK MARKET. TTMIe the edition lasts copies wffl W gladly ent upon receipt of 10c In ihj" lo defray oc.l of moWno-. Wrll" J. F. McGOVERN & CO, Urmhrr. of rhlla. Btoek Rxchiaft 1480 Bomb rrsn 8a.. Poll. Spruce 0410 BitsHU Order, executed In all MsxkiU Mew York i St Ureadnar Mi 30 30 June Railroad Earnings Juno buelness of 202 Class I railroads show, net operating Income of 151,778.0(10 .aved out of gross revenues of 1481,127.0(10. contra. t.d with $14, 012.000 net operating deficit nnd Hlll.3K3.HO0 gros. receipts for June. 102(1. eccnnung to a compilation by the Ilureau of nallway Kconomlc. The cal culation covers nil Class I rnrrleis except tho Detroit nnd Toledo Shore 1,1ns. Oper ating expenses totaled 1370 OSS, 000. a de crease of 20.7 per cent from the S47H.771. 000 reported In June, 1020. The rut In ex penses was achieved mainly thiough curtail ment of the outgo for conducting transpor tation maintenance of equipment way and tructure., I. C. C. Approves "Pennsy" Lease Washington, Aug. 11 The Inter.late Commerce Commission approved today nc QUl.ltlon by the Pennsylvania Railroad Com- tNet change mide by comparison with last ale on New York mock Uxchange. I'lIIUUIUU'lILX IIONWS 100 Libert v 2d 44h '12 87.00 250 Liberty 3d 4',Jh '2.8 1)1.74 1 150 Liberty 4th 4'4s '38 87.80 100(1 Liberty 4th -Wh '38 87.00 1000(1 Liberty 4th 4Vin 38 87.110 1(10(1 Viitory 4 V '23 08.70 1000 Victorv 4-V,n '23 08.70 100 Amer Ons & Electric 5s. . 74 1000 T11 Telephone 7 105Vi iiiiii cons Traction of N J rs.. ill 1000 l'ennn It It temp ctH flVaS. 2000 Penna It It temp ctH OMih. 1000 Philadelphia Klec Int 5s. . Foreign Government Bonds Taynlilo in stcrliiiK nt less than one-half pre-war prices. Dollar bonds of same Government Helling at par. Ask for Circular IS-7 PAUL & CO. Member, l'hlla. Htoek Exchange 1421 CHESTNUT STREET "H 1)0 Vi 88Mj MONEY-LENDING RATES both elasnes per cent for NKW YORK Money nn rail. at collateral, opened today at fl lending nnd renewing. I'IIILAI)KI.PIIL Cill. 0 por cent, time, fl per rent commercial paper, three to lx months il per cent. Note These are merelv nominal quota tions the legal rate of lntoret In the rltato of Pennsylvania being fixed nt (1 per cent Plus premium and commission, time mney f r thirty to ninety day. Is loaned at fl tu I. per cent, while commercial paper from I iiuny iu ninety uays, l. loaned at II 10 UA UANUCllB Dealer in Investment Securities .Ifmitiei. New York unit VMladtlphla Block Stchanaet 321 Chestnut St., Philadelphia Milwaukee & Northern Railroad Consolidated Extended Mortgage 4V2s, 1934 At Mnrket To Yield About 6.70 Baker, Ayling & Yom JOSEPH W. SWAIN. Jr unM" Land Title BIdg. ' PhiladelpnU ill, - jg per cent I any of control by lens, of the ana wooarridxe jtsiiroso. 1 nallrc.d, the Cumberland of the Perth Ambov .the New York liny id Valley and Mar. tvuii iitiM vavu, awu tir am phla and Norfolk Rallrojfd. tln.bur n.llroad. and the, New York, Ph oei ills- ama coupon 2s 103(1 GOVERNMENT BOND8 Dili 100'i .100H .lOOli 75 75 80 7H 7 1011'. 'TO 104U .lOOiJ . 113 panan P.iniimn registered 2s 1030. i-iinama coupon 2s iHsn, Panama coupon Ss IDfll... Panama rmlstired 8s lUfll. Philippine 4s 1P34 . . . Philippine 4s 11)15 Philippine 4s 11)30 II H (lovt coupon 2r 1010 U H (lovt reuislered 2s 1H.I0 V S (lovt coupon 4s 1025 U H Clovt reclslered 4 1035 Dirt of Columbia 3 03a 1U24 Ask 101 1 101 SK OlVi 01 M Olli hi 101'. lul'i 105 lo-. Phil.. & Readinf Imp 4'i 1947 Phila. & Re.dioi Com 4't 1937 Peosa. & Norlhweilern, . , ,5'i 1930 Conncctinf R. R 4'i 1951 Reed A. Morgan & Co. Members of the Phlln. Htock Kxch West End Trust Itldg , Phila GRAIN AND STOCKS Facts and figures relat ing to securities or gram cheerfully supplied, wo specialize in Odd Lots Boureau & Evans 130 South 15th Street Philadelphia Locust 1131 ttac HI' Prices Heavy on Paris Bourse Pari., Aug. 11 Prices wer heavy on tho nour.e today. Thre. per o.nt rent!.. .HI franca 47 centime.) exchange on Ixipdon, 49 franc. 08 centln-e.j ner cent loan. 81 franc. 45 centime.. The dol lr wa. quoted at 12 franca 77 centime. FINANCIAL HOUSE of International reputation desires to communicate wltti high-trade lale.men of proven ability, Splendid proposition for rlKht men. state age, experience, phone and full particular. """ n-is, i.rnoKR omcE Western Power common Ohio Power 7s, 1951 Conemiugh Power ob, i-- - BTOCTl KXCIIArfdK "v!f e by csrtlflcats. We 1 minimum of 6 ptl c 1 T-7-irr V. Jif
Significant historical Pennsylvania newspapers