r i i u - i. l j, ,f p .' .--... fe.r MvflNGr PUBIild LBDGEIPptdtoELPHIA, WEDNESDAY, dUGlJpTSWfl! ,V V,"R7E I 1 f r -t i j It r l i t S .BT6. i Adirondack Power & Light Corporation First A Rf. Mortgage 6 Bonds Due 1950 A tongr term hydro-electric light and power bond secured by mortgage on all the prop erty of the Company, serving a wide area including Schenec tady and the intensely indus trialized region of the Mohawk Valley. We recommend these bonds for conservative investment Price 86 and Interest Yielding about 7.15 Complete circular on request Harris, Forbes & Co. Pino St., Cor. William NEW YORK PHILADELPHIA OFFICE Widcnor Bldg. Telephone Spruce 7040 STOCKS CONTINUED 10 LOSE GROUND Many New Lows Arc Mado Throughout the Industrial List Under Pressure li il FOUR BOOKS You Should Have "How to Figure Margin" ' Tells yau all about the at tractive marginal method of trading. "How to Figure Interest and Carrying Charges" A new book which explains clearly how to flfturo your , transactions. ' "The Investors' Digest" Gives you useful and valu- able Information about BOO different stocks. "The Dividend Payer" I The Magazine of the Stock Market Any or all of these books will be gladly sent to you upon request Visit Our Board Room . The neivtit. most at- tractive and most up-to- ' data In Philadelphia A cordial welcome awaits you. Edwin E. Kohn & Co. Members Coniolidattd Stock Exchange of Sew York 1522 Walnut St., Phila. New York Trenton Enttoa I'ltt.burch Ullnilntton PnttsTlllr E. H. Rollins & Sons Founded lR7t! Investment Bonds 1421 Chestnut St., Philadelphia I'hnne Spruce 3100 Boston .Veto York Wilkes-narre Baltimore Chicago San Francisco New Issue Province of Saskatchewan (Dominion of Canada) 6 Gold Bonds Due August 1, 1927 These bonds are a direct and pri mary obligation of the Province of Saskatchewan. Price 92 and Interest Yielding About 7Vz (for payment in United Stttei fundi) Sed for descriptive circular Tax Free In Pennsylvania Free From Federal Income Tax Commonwealth of Pennsylvania Highivay 5 Bonds DUE AUGUST S, 10SI At price to yield about 4.8757c Circular m rejutet or PK ,H The National City Company Philadelphia. 1421 Chestnut St. Atlantic City Chalfonte Block 12ZS Boardwalk act Baltimore & Ohio How will this rood benefit by Gov ernment Ltglilallon? Ilow will B. & 0. Stock marketwise? It it a Bay or Salt ? The., and many other Interesting questions ure dltcussed In a complete analysis we hate Just prepared Those wh 11 th watching thla popu lar Issue should write for a FltEK COPT TODAY. MILTON ..EIM6CO STOCKS- FOREICH XCHANCI BONDS mwom PHILAOeiFHIA STOCK. EXC4ANO&. CONSOUDATSO STOCK tcCHANClyNl ' 1G22 Chentnut Street riiuue.i Hell, Hprure KOU-3-a-4 Keystone) Iture 73U 14 Draadnur 4 481) Atli Ae.. N. V. Stamford. Conn. HnrlncUrld, Ma... Iloboke, Mnti Now York, Aug. 24. Operations and movement of todny's stock market were virtunlly a repetition of the preceding scHAlona. There was omo desultory covering of shorts; some further neces sitous liquidation In the Industrial spe claltlcs; somo fresh short selluiB, but very little, If any, outside buying. Price movement, In consequence, presented a curious mixture and imparted a very uncertain nppenrnnce to the market. Conditions affecting market sentiment failed to show any material change. Money market exhibited a somewhat easier tone. Union TacUlc's July state ment of earnings wns regarded favor ably and served to confirm recent opti mistic statements concerning the im provement In the rail situation. lo some extent, however, the good influ ence was offset by the slim chanees of the railway funding bill being passed by the Senate beforo the rcca. "it is n question, however, if nny of the Individual force of constructive character exerted any real influence. Tills thought at least was suggested In the complete Indifference manifested re garding the advices attending the peace treaty between this country and Ger many. The cleaning-up process neces sitated by the closing out of the affairs of extended accounts of nil descriptions occupied the greater part of the atten tion of the professional traders who maintain n complete domination of the market movement. Concrete evidence of the continuation of such operations were to be found in the performance of a numbor of spe cialties. More notably perhaps In Cru cible Steel, T'nlted Drug. Steel Foun dries. American Smelting and also In General Motors. Two blocks of 10.000 shares each of the lntter were turned over nt 04, equally the previous low record. Following a listless opening a moder ate rally took place, suggesting a con certed drive against the shorts with tho flank of the movement resting, ns was the case yesterday in the Mexican oils. The completion of the plans for the de parture of the cream of the brains of the oil industry to Mexico nnd the re ported conciliatory attitude of the Ob rcgnn Government naturally made the bear account n little more timlt than usual. The movement, howevor. proved of the usual short duration and not only was the improvement quickly cancelled but stocks started to lose ground in all directions. During the fresh selling movement of the morning many low-priced nnd ob scure stocks broke Into new low ground. These included 1'lerce Arrow common nnd preferred. Colnmhln Grnphophone common nnd preferred and General Motors. At the same time now low records for the year were mnde by some of the prominent if.ues, notably Mer cantile Marine preferred. American In ternational, Pullman, Anacondn and International Paper. Other noticeable weak spots were found In American Smelting. Crucible Steel, Mantl Sugar, T'nlted Drug preferred nnd Virginia -Carolina Chemical. Seven-point break In "Soo," n Cana dian Pacific subsidiary, on a sinsle sale, proved to be a signal for a subsequent smash In the railroad croup, which division broke violently nfted mid day on the anniuncement of the op position of former Director General of Railroads McAdoo to the Administra tion Funding Kill. FRESH SELLING IN LOCAL MARKET Recurrent Liquidation Sug gested Resumption of Clean ing Up of Extended Accounts What appeared to be further clean ing out of extended accounts, or ac counts which had been impaired by the protracted depreciation of security val ues in the New York market, nrobnhlv accounted for the outcropping of weag- nesfl in different parts of tho local list today. This liquidation seemed to be n j continuation of the movement started in . I' (J. I. yesterday, extended to Phila delphia Rapid Transit, which yielded to 15, Union Traction to SO and Lake Superior Corporation which dipped to The recurrent liquidation was attrib uted by several local Interests to call ing of loans. There wero rumors of NEW YORK STOCK EXCHANGE TRANSACTIONS Dlv. Sale, in Illh 0tt .. AJax nubber 1K 200 .. Alaska Juneau Q M.. 1H 300 4 Allied Chem & Dye... JHJ 100 7 Allied Chem ft Dye pf 8U 00 4 Allls-Chalmers 3V4 S00 7 Alllt-Chalmers pf .... 71 200 .. Am Agrlo Chem 3114 100 .. Am AgTio Chem pf... 8 200 .. Am Boach Magneto.. 814 00 .. Am Can 28 00 12 .Am Car ft Fdy 120 00 .. Am Drug Syn 4K "00 . . Am Hlrta ft Leather pf 40J4 100 a Am Ico S.114 200 .. Am Internat Corp.... 30K 00 .. Am I,lnoeed 17H 1100 0 Am Locomotlvo 814 200 .. Am Safety Ttazor.... 400 .. Am Ship a Com M J100 . . Am Smelt nnd Rof . . . 33 1000 7 Am Smelters pf 80 "OO s Am Steel Foundries.. 19J4 2800 .. Am Sugar Rof flOOft "00 a Am Sumatra 4214 100 0 Am Tel & Tel 10SV4 300 u Am Tobacco 118 3000 7 Am Woolen B6H 400 .. Am Zinc Lead & Smlt VA 4000 .. Anaconda Copper ... 33H " 700 8 Atch Top & Santa Fe. 0314 100 a Atch Top A 8 F pf. .. 80 100 7 Atlantic Coast Lino.. 84J4 4300 .. Att Gulf & W I S S., 31 100 . . Atl Gulf A W 1 S S pf 18 100 .. Atlantic Pet 11 7000 7 Baldwin Locomotlvo 7314 7200 .. Baltimore A Ohio.... 3S 100 4 Baltimore A Ohio pf 30ft 100 .. Barnndale Claas B... 17'4 4300 a Bethlehem Steel B... 47M 100 .. Brklyn Rapid Transit 10 100 . . Brklyn R T ctfs of dep 014 100 .. Butto Copper A Zlno. 3Ji 100 .. Butte A Superior Cop 10ft loo .. Butterick 37 SO) . . Caddo Central OAR. s!4 300 2 Calumet A Arizona... 45 200 e California Packing .. 00 400 .. California Tetroleum. 3?ft 000 7 California Petrol pf.. 71 300 z Cnl Zinc A Lead 3Ji 1300 10 Canadian Pacific ,...in' 2700 .. Central Leather 23ft 1100 .. Central Leather pf... fisft 1000 .. Cerro-dc-Pnaco 21ft 1S00 e Chandler Motors .... 43 3000 .. Chesapeake A Ohio.. Sl'4 700 .. Chicago & Gt West.. 7ft 400 .. Chi & Gr West pf 10 20,10 .. Chi Mil A St T 24 3500 . . Chi Mil A St P pf . . . . 37fJ 1000 a Chi A Northwestern.. 033, 4800 .. CM It I ft Pac 30 400 0 Chi R I ft Pac C pf. 03 100 .. CTillo Copper OH 800 .. Chlno Copper 31ft 100 .. Cluett Peabody 40ft 100 . . Coca-Cola 33 200 .. Clev Cln Chi A St L.. 38M 100 .. Colorado Fuel & Iron. 22H 100 .. Colorado ft Southern. 34 408 0 Colum Gas A Elec 3ft 8530 . . Columbia Graphophom 3 800 .. Col Graphophone pf.. 13 100 . . Consolidated Cigar . . 37 800 .. Consolidated DIs Ins.. 5 100 7 Consolidated Gas .... 84 K 200 .. Concolldatcd Textiles. 14J 800 7 Continental Can 38 800 .. Continental candy .. Vt 1300 a Corn Products Ref . . . 05 1300 2.80 Cosdcn A Co 23 17500 4 Crucible Steel 82 ft tOO .. Cuban Am Sugar.... 13 55no .. Cuban Cane Sugar... 7J4 1800 . . Cuban Cane Sugar pf 18 100 4 Davison Chemical ... 33ft 500 .. Denver A Rio Grande. 700 0 Delaware A Hudson.. 09 ft 100 . . Denver ft Rio Gr pf . 1ft 100 1 Dome Mines 10H ' 300 8 Endlcott-JohnBOti .... 57 400 .. Erie 13 ft 1300 .. Erlo 1st pf 18ft 9200 8 Famous Players L.... Si 100 .. Flsk Rubber 0 5800 .. Freeport Texas 10ft 5000 .. General Asphalt .... 43ft 430 J 8 Genera! Electric 113 H 28050 1 General Motors 09i 100 . Goodrich B F 29K 0(500 7 Groat Northern pf . . . . 71 100 4 Great North Ore ctfs. 27 J5 100 .. Greene Cananea Cop. 20ft 100 1 Guantanamo Sugar .. 8ft 100 1 Hupp Motorcar 10ft 3300 .. Inspiration Con Cop.. 30ft 100 00 Indlahoma Ref '& 300 .. Inter Cons pf 10 100 Int Agrlcul Corp pf. .. 30ft 1J0O 7 Int Harvester new.... 09ft 100 Int Mer Marine 8 2400 a Int Mer Marine pf . . . . 37?4 K300 7 Int Motortruck 1st pf. 07 5400 .. International Nickel.. 12ft 103 0 Intornat Nickel pf 80 200 .. International P.ipr .. 39 200 .. Invincible Oil Corp... 8 2000 .. Island OH 2H 200 .. Jones Bros Tea 17ft 400 . . Kansas City Southern 34 300 4 Kansas City So pf 40ft 3100 4 Kelly-Sprlngneld Tire. 33 K I.OW 18 ft 1H 35ft 88 J4 38 ft 71 30K 80 31ft 34 ft 130ft 4K 48ft 83 ft 3SH 17 ft 83 3J4 8ft 39 U 06 18 59 H 40 103ft 118 ft 5 ; 7 T33ft 83 80 84ft 10 18 11 71ft 34ft 80ft 17ft 40 10 Oft 3ft 10ft 37 8ft 45 60 ft 30H 71 3Ti 111K 33K 87 M 24 41ft 50ft 7ft !3?i 23 ft 33H 03 294 83 H 0 2H', 40 ft 33 38H 2 31 S3 3H Oft 27 A 84H 14ft 38 64H 23 ft 40 ft 13 7 17ft 33 ft 08ft 1ft 10 H 37 ft 13 ft Jl7 82 ft a 0ft 43 nift OH 29K s;k 30ft 8ft 10ft 29 X 3 in 30 ft 89 ft 8 37 07 lift 80 39 M 3ft 17 ft 24 40ft 33 Ji 1:80 Met r. ar. Ch. 18ft- W IK .. 3SH ft 5ft 1H 28ft- 1ft 1 14 1 ft H V " V 14 "v 3H 3ft H ft H ft 14 71 - 30M 88 4-31ft-34ft-120ft- 4H 46 -83 ft 83ft 3ft 8ft 30 -CO -19J'. 00ft 40 -105ft 118ft 04 H- 7 - 33ft- IX 83 ft 80 84 ft 10 -18 - 11 716 40M 10 0ft- 3ft - 8ft 43 -00ft-30H-71 - 3ft 111H- 33K 87 U 34 -Hft-50ft-7ft-15-23ft-3SH-63 -29 ft 02 M -0 Ji 21ft 40ft 33 38H 32- 34 -53 ft 3- 0ft- 3 37-1 5 84K- ft 14JJ ft 38 04 23 7ft 98- lft 10 67 ft 13 ft -f 9 9"j- 42 -i -1- 113 9ft 20 ft 8ft 10 ft 3934- 3 10 -f 8 371 07 11 80 -39 - H - 2ft 17 54 1 40ft 33 ft 154 ft ft ft "'A " A H ft ft ft Ji ft ft ft 1 VA ft ft "ft ft ft lft ft 3 Sale. 3000 804 300 100 Dlr. Ini nich .. Kennecott Copper ... 11, . . Keystone T ft R 11 .. Lackawqanna Steel .. 80ft Lake Erie ft West pf . IV 300 s.60 Lehigh Valley 80ft ft 3ft 'ft 2 3 1H "ft lft ft ft ft ft lft ft ft 800 .. Loewe Co lift 400 1 Loft Candy 8ft 100 is Lorlllard Tobacco ...140ft 800 10 Manatl Sugar 30ft 100 . . Market St Rwy pf . . . . 15ft 100 .. Marke.t St Rwy pr pf. 20ft 100 .. Marlln Oll.t 13ft 17800 11 Mexican rctroloum .. 3ft 300 s Miami Copper 10ft 3800 i.eo Middle States Corp... 10ft 800 .. Mid vale Steel 23 ft 100 .. Minn ft St Louts Oft 100 7 Minn St P ft S St M. 63 300 .. Mo Kansas A Texan.. 1 200 .. Missouri Pacific 18 ft 400 .. Missouri Paclflo pf.. 36ft 400 , . Montgomery 'Ward . . 18 300 s Montana Power 44J4 800 7 Nat Enam ft Stamp 38 IT 3800 4 National Lead 71ft 800 .. Nov Con Copper 6 100 0 N O Tex A Mex 83 2000 n New York Ccntrn-l.... 09ft 100 . . Now York C A St L. . 53 100 b N Y Chi A St Lid pf. 07 300 2.80 New York Dock 36ft 3100 .. New York N H A H. . 15ft 400 7 Norfolk A Western.,. 03ft 100 b North American 01 8500 7 Northorn Pacific 72ft 100 8 Nova Scotia SAC... 33 390 .. Okla Prod ft Ref lji 300 2 Orpheum Circuit .... 17ft 100 8 Otis Elevator 88 100 .. Pacific Gas A Elec... 85 300 .. Pacific Oil 34ft 1300 e Pan-Amer Petrol 43ft 100 0 Pan-Amer B 37 200 .. Panhandle pf 70 100 .. Parish A Bingham... 10 1400 2 Pennsylvania II R. . . . 37 600 .. ponn Seaboard Steel.. 7ft 230 ,. Peoples Gas Chicago. 84 1000 .. Pcre Marquctto 18 300 3 Philadelphia Co 38 ft 1800 .. Phillips Tet 21 4200 .. Plerce-Arrow Motor .11 1800 . . Plerce-Arrow Mot pf . 25 300 .. Plereo Oil 8& 100 8 Plereo Oil pf 33ft 100 .. Pittsburgh A W Va... 24ft 100 .. Pressed Steel Car.... 80ft 2500 8 Tullman 90 100 4 Pure Oil 24J4 300 8 Railway Steel Spring. 73 1900 . , Ray Con Copper 13 1200 .. Republic Iron A Steol 4434 1000 4' Rending 05 JJ 300 .. Rcplo Steel 10 100 . . Republic Motors 8 000 0.20 Royal Dutch Amer. . . 47 MOO I St Joseph Lend 1034 2400 .. St Louis San Fran... 32ft 100 . . St Louis San Fran pf . 35 200 . . St Louis A Southwest 23 100 ,. Saxon Motor 3 100 . . Seaboard Air Line ... 5ft 4300 .. Sears-Roebuck 60 ft 700 .. Beneca Cop Corp.... 14ft 100 .74 Shell Transport 3134 2300 .. Sinclair Oil 17ft 100 . . So Porto Rico Sugar. . 28 1700 0 Southern Pacific .... 76ft 1000 .. Southern Rail 10ft 700 8 Standard Oil of N J.. 138 300 7 Stand Oil of N J pf . . 107ft 200 2 Stewnrt Warner Speed 22 ft 8500 7 Studebaker 00ft 600 1 Submarine Boat Corp. 4 800 .. Tenn Cop A Chem... . 7 3100 3 Texas Co 3434 3500 . Texas A Pacific 32 500 1 Texas ft Pac C ft O. . 16ft 300 0 Tobacco Products .... 60 100 .. Tol St L ft West Ctfs. 934 2100 . Trans Con Oil 6 100 8 Union Bag A Paper 68 ft 2500 .. Union Oil 16 900 10 Union Pacific 119ft 300 . . United Alloy Stocl. . . 23 4800 8 United Drug 54ft 600 3 United Retail Stores.. 40ft 200 .. U S C I P A Fdy 12 700 ..US Food Products... 18ft 1300 4 U S Ind Alcohol 43 8100 ..US Rubber 44 ft 800 8 U S Rubber 1st pf 84ft 11800 8 U S Steel 73ft 200 7 U S Steel pf 100 8500 2 Utah Copper 43ft 1000 .. Vanadium Corp 26ft 1000 .. Va-Car Oiemlcal .... 23 900 .. Va-Car Chemical pf . . 04 100 0 Va Iron Coal A Coke. 02 000 .. Vlvadou Ino 6 200 .. Wabash 7 1200 .. Wabash pf A 20 1000 ., Western Maryland .. Oft 400 . . Western Pacific 21 300 7 Western Union Tol... 81ft 2400 4 Wcstinghouse E ft M. 40 700 .. Wheeling ALE 8 100 4 White Motor 33 1200 .. White Oil Corp 7J4 1200 .. Willys-Overland Oft 1200 . . Willys-Overland pf . . 20ft 400 6 Worthlngton Pump .. 34 Low 17 11 86ft 10 80ft lift 8ft 140ft 30 18 ft 30ft 13ft 03 ft 10 ft 10 33 ft 0JS 03 isH 36 18 44ft 38 08 ft ft 63 88ft 63 07 30 ft 14ft 03 CI 70 ft 23 134 17 ft 88 55 31 43 37 70 10 37 ft 7ft 51 18 38 ft 20 10ft 23 5 ft 33 ft 34 Ji 60ft 8ft 34ft 73 11 44ft 66 10 8 4034 1034 31ft 35 23 3 6ft 69 ft 13 ft 3134 16 J4 28 75 ft 10 133 ft 107 ft 33 ft 65 4ft 7 33 ft 21 10 56 034 Oft 88 ft 1634 118ft 23 80ft 49 13 15ft 44ft 43 ft 83 73 109 41J4 20 3 lft 03 ft 63 0 7 10ft 9 21 81 ft 3034 8 33 7 6 28 J4 32 ft l-JIO Net P. M. Ch. 17 - H 11 H 30ft- H 10 - 9H SOft ft 11ft- 8ft 140ft 20 -18 ft-39ft-13 ft 04 10 ft-10-33ft- 0J4 63 - U4- 18ft 86 -15 - 44ft 35 -09J4- 014- 53 68ft- 633 07 26ft- 3 lift- ?s 3 - 61 :oft- 33 -ift 17ft 88 55 31 43 37 70 10 37 ft 7ft 34 18 -28ft-20 - 8 33 ft- 34 ft-60ft-89 ft 34ft 73 11M-44ft-65ft-10 8 4634 38 23 - 3 -Sft-00ft 18 ft 28 75ft 19 133 ft- lft 107 ft -f ft 33ft- 1 C034 1 4ft- 7 33 ft-21-18 50 - 034 1534- 118ft 23 51ft 46 12 -15ft-44ft-43ft 109 -22 ft-62ft-63 0 -7-19ft- 4ft V V H ft ft 14 7 ft " 14 H aft lft V "H 1 14 lft 14 lft 1 "l4 ft ft 1 2ft "'ft ft ft 34 ft "'A ft "'l4 "l4 ft ft ft ft ft 34 ft 14 ft 114 "ft " ft 1 ft 'sft ft ft ft 34 ft 'i?4 ft 3ft ft ft 34 21 8 33 A ft 1 Commodity Markets showing considerable Improvement, 1 without the Interior ns yet, being a bujer in u large way. l'rev Close Opn GRAIN MARKET tv-ptembor 9 4'.'jJ C3ujf31 .. . ... .... . , ..December S.SVrUO II 77W7P Clifcapo, Aug it. heat started1 jiiurch 7 l'Twjh 1 is 'a 2d V lower for September nnd unchanged iloy 7 476 10 7.:i037 to Hr higher for December. Trade was 1 LIVESTOCK QUOTATIONS niodei ate, with buying by a lending, ciUcaio, au. 21. cattle Receipt., commission house nnd selling chiefly by S00O head. MoVtlr at.ady, test heavyuolBht locals. Receipts Inspected yesterday 1 teer. calver and bulls atron, choice heavy were 37fi: last vear. 110 enrs. The rteera, 110: tot yearllnc. hold hlsher. Deer buiu. t3zst. cn.l, m,1,., ,..: fl,m ,w,l1l f, I Jwj I8.60O0.2BI bulk, fat she stock. " ,......". v.uu ....... vitivMuij w. io,70! noiogna such action on the part of the banks choice crades. Mlnneanoll renorted a 14 25(4s.SO: bulk, veil calve.. ' 19. adtflO! yesterday afternoon, but could not be more active flour trade, with prices of St2akorB Bnd Ied" '"k' mostly J3& HOOS Receipts, 13.000 head. Falrlv ac tive. ISo to 40o hither; bulr of sale., 17. -3 HIU.30. Top, 10. CO; heavyweight. 18 SiU 0 15. medium weights, tu luOu.OO: lleht- welchta. 1U. 8000.00: llrht Ilrht. IR.I.'.rt h.du neavy pacKinc confirmed then or this morning. In nil events there was unusual free offering of Philadelphia Rapid Transit and also Union Traction. On the other hnntl. pressure ngulnst L. G. I that stock ral'jlng to 31 white (lour ten cents higher, and with leading mills arranging to run seven days a week, starting next Sunday. Country offerlnirs to nrrlve are llcht. relaxed with but movement In the Southwest Con or 5- above tinucs llbernl nnd that In the North LONDON STOCK MARKET Sentiment Cheerful Gllt-Edged Section Firm Industrials Quiet London, Aug. 24. Sentiment was ngnin cheerful In the security markets on the stock exchange here today, but apparently was without influence, deal ings being practically featureless. In tho gilt-edged securities firmness was noted In spots. An easier tono developed for dollar descriptions in syinpnthy with New York exchange. Argentine rails dis played a drooping tendency as the re sult of realizing sales, Home rails, on tho other hand, were buovnnt on lint nil in j.iur . - - .... - oth, J7.25 appeared to be good Investment buying 7 25, pU. Decided strength was shown in kaf- the low price made yesterday. The nest is increasing. A weak situation 4ain was not fully sustained. js reported in Canada, which may have Receding prices, however, was the a depressing Influence on American mar- ule in most all tre Icenl stocks. This kcts Sentiment in tho trade here is wn largely the result of the impover- mixed and quldc turns nre likely, ished buying power and the extreme Corn started He higher for Septem- nunowne. of the imukct. Hi 111, on her and December, with nn Eastern 'iglit offerings, declined lVi points to house buying in n moderate wnv and -. tlectnc Storage Huttery receded offmlngs limited. to KU, P'-nnsylvania was dull but steady until the afternoon, then gave ground with the rest of the list. Philadelphia Stocks HlKh 2.r. Am Strs 57 113 Iirlll J C 20 22.'. Ele, Ktor.103 fi I Co N A 2Vj 18.'. Uke Hup 7 10 I.eh Vol.. 501.; 02 I'a It 11.. 37T, 70 l'illa Co cum nf . 'MUj 131 I'hlla Elec pref . . . 20 545 I'hlla It T 1(P, 20tHcad!ng 05T; 100 Tono Hel 1A 125 I'n Trnc. 30V4 200 V a I... 31 4 do pref . 40 57 25 102 28 fir! 50 37 31", 20 i (15 rs; lA 30 30 4 40 lis I. M 57 25 IV, 102 IVfc - fl-V 50- 37- .Ve chge. :i Oats started practically unchanged. Tmde consists chiefly of changing he tucen September and December at a difference of 3VBc to 34c This shows a little incrense in the spread. heavy packing pow. smc 7 7A, packing; sows, roiuh. J7 sheep noceipta. 24,000 head, rot lambs ,'irs', whie,& W?,TC influenced by general mostly 2bc lower, .nmi' top cany '.i,nii tj city butchers, $0 to packers, only one strlnir Western sold easrly at 19 40: othi-rs held hlcher' no feeder lamb, sold early, rative rat ewes sieauy few nttabiirch Auk 21. IIOOB Receipts i:00 head. Hlsher. llecuj... 1UWU.2.V, heavy yorkers. I10.23J! ID si IIkIU york ers. 19 50((0 78; ptas. S'i50 25 SHEEP AND LAJlIlb Receipts, SOO head titeady. Top sheep, ti Hi; top Iambi, til. I'ALVEK ItecelptH 25 bead Hlg-har Top. J 13. Auk 21 Jlarely atendy 1 Ijist Iluffnlo relnts. 575 head ! rnii'ipls, il'o neau COTTON MARKET "i'lOOS nemlpts. 2400 head v t- .1, .. oi n .!, ,, cents to B0c hlirher Jlenv .ew orli. Aug. -4. Un the opening , m,xed to. 76010. yorlws. tin advance of 10 to 18 polntb In cotton ' yorkers, to 28tM.7B, plus tuj ... , ..,.... -lit,!-. i ..n..u tn rf Fi n.nnu Mi b mnrnmir nipre wnH n irnn I -,", ... - ., deal of unloading by old longs, which with considerable Southern wire house selling, checked the rise and promoted cattle n- irty Calves. Kitty cunts higher. 45 it Tenty-fHa 0 n 50; 10 25. IlKht 25, rough, 31i', -V4 20, 15V nr;i rcactlons of about 10 pointw in the first lifti i'n minutes. Tho early ndvanc was based on the strong cables, increased spot sn'es ut Liverpool, trade buying and continued dry, hot weather in the Southwcbt. Receipts nt the ports for the day ore estimated ut 12.000 bales, compared HHEKP AND LAMI1H Receipts 1000 head. Sheep active Lambs. 25c hlcher, I.umbs, 15 11.50. others unchanged. 1A A, with 13,(1!)1 bales last week, 7009 bales 30 30yl a, 1!)'. . i a ear ugo, and 8302 bales In 1010. Net chance made by comparison with last a! on New York fltnek Exchange riiii.i)Ek.riiiA iionds 15O00 Liberty 1th 4s '38.. lots 87 2 WO Liberty 4th 1'Ah "3.S. 000 Liberty 4th 4 '4s '38.. 2000 Victory 4a',H 23 1000 Rell Telephone 7s 1000 Rethlehem Steel 0s. . , 2000 Electric it People's 4s, 500 Electric & People's 4s, 1000 Pennsylvania (li2H... 2100 Phils. Electric 1st 5s. , lots H7.02 HM.00 OS 08 101 50 on 87(4 October . . December January M.. rch July . . Previous 1.00 Close Open P M. . 18 77 13 82 13 00 . 14 Itl H.2I1 14.28 14 20 14 fl't 14.34 14 It 3 14 48 . 14.40 14 5S . . 14 4S 14.115 Brand-Now Locomobile m-paanrr tourlnif for, stUI ut foe- nm sen ior oouu, Ucvular del irry urlee. $000. """ SEE CONRAD BHUHEBT BU1Q, Spruce 0S1I Int . J Hats 5 4 8pt. fil Hept. Ml Oct 5 tVt , Dec . 51, Keb B Mch t5U Mch 11121 121 t5H Juno 1022. 1022 1022 1H22 i'T,M, AUL' 11.2.' t'B'S June. 1021. NEW YORK COFFEE MARKET New York, Aug. 24. With first no tice day on September contracts only two days off, there was considerable pressure to sell this morning and on the cnll prices worked 0 to 12 points below the previouh closing ngurcs, in dicating a disposition on the part of longs to make a clenn-up of September contracts. t mt.ldAv Inrna htnclra nf Nnntnin- ')" ' i .n.l. ...... Sln uu.fchnl i flit. i no uei CUIUI UV in ,,,j ,,. ,.,,,.b,,.M . ... 4.(0, Co. .nnnfVia u-ltli trnrllni? rleeldedlv more ii4,a JomT" MS I active. Rio failed to hold, a special too 7.10 ioou-16 4 17, cable reporting the market unchanged vi 4.05 .. ,i.,llna nf 1QS rnlo. nnd this mav have Influenced some of tho early -day selling. However, In somo quarters, tho low point for coffee Is expected to be reached within tne next wecK or ten U. 8. Certificates and Treasury Notes Maturing Date , 1H31 1021 . 1021 Hid Asked lull 1110 H-H'i .ion -;)." loo s 10DH 100 IbO 0-3Z .100 100 .lOllrf loo'i lot r, ns Exempt from normal Tederal irxome tax. tAoceptaltl for payment of Income tax due on aait ot maiuniy llil) 13-32 5 00 mow B.O0 100'i ft 17 100',; B.21 J I Ik orai days, for the spot (Uuiand has been quoted at I2f 0 DIVIDENDS DECLARED Michigan Hugar Compjny uuarterly 1 per cent on common. Ulackstono Valley Oas nnd Elertrlp Com pany, luarterly tl on common, payable Sep. tember 1 to stock of record Augu.t 23 Midlands Securities Company quarterly 12 00, payable September 30 to stock of rcc. ord beptember 0 South I'orto nico Sugar Company, qur terly 2 per cerrt en preferred payable October 1 to stock of rocord HepKmlwr 15 Chllds Company, quarterlj 2 ptr cent en common and 11 ler cent on preferred, pay ahle Heptember 10 to stock of record Au gust 20. BANK CLEARING8 Hank cjcarlngs today, compared with cor. responding day last two iir.. 1021 i020 1010 rhlla. . 150.000.00070.173 !3R 1(13.5(13 207 IlOMton. 8'i,U2,552 5u 50 M7 47.014.477 N V . . 453,400,000 n2S.h.1l 170 007,711.672 August Traffic 8lows Up New York. Aug 24 The expoctod Augut railroad trafnc lmproement I. not reflected In any tendsney toward con-ostlon of truftb rn the lines, such as frequently begins to show Itself at this time of year On all lines August 12 there wero only lft 312 loaded but unmoved freight cars as com pared with 17,700 on August 5 and not one of the cars was held l.v an embargo. Ot the total for the week, August 12, there were about 8085 awaiting shltimenf n,H., about S01 held for Improper bllilnrs. smi hel 1 for reconslgnment and about 2700 that conlKiees. foi one reason or another, were unable to accept. Prloes Firm on Paris Bourse Pari. Aug. 34 Prices wem Arm nn n,. Ilourse today, Threa per cent rentes, 5ilf 35c, Exchange on London, 47f (10c, Five per cant loan, Blf 45o. The dollar was 3S. buying. Trading in French loans was Hull, with prices holding around yestor day's final level. Oil shares showed improvement on moderate repurchasing. Shell Trajis pott and Trading was quoted nt 4 15-10 and Mexican Eagle 4 11-10. Rubber shares were easier and slightly lower In sympathy with the movement's in the market for the duple. In the industrial group, trading was quiet, with price changes of a mixed character. at 10 aim 220 oo 408 8 112 170H 2D0 80 SECURITIES AT AUCTION Tha following securities were sold auction today by llurncs & Lofland: STOCKS Shares 131 Olen willow Ice Mfg Co 1) Olrard National Bank 1 Southwark National Hunk , ... 24 Northeastern Title and Trust Co. 5 Northern Tru.t Co 4 Provident Llfo and Tru.t Co,,. 10 Tranklln Trust Co 22 Commercial Trust Co 10 1'cnn.ylvanla Hank and Trust Co. 42 Philadelphia Mortgage arl Trust (JO., lot 8 2 Flro Association of Philadelphia 801 3 !"lro Association of 1'hlladelsihla 800 25 Westmoreland Coal Co 05 a uilizena x-uH.ongsr Jiwy. i;o.... lull .. American X'lpo ,,, 50 Isko Co. pref 80 Isko Co., com IJOND8 15000 Chattanooga Ilallwajs. 6 per cent, first consolidated rrrort- Kugo, due 11)60 10000 Ohio Itlver Electrlo Railway and Power Co.. 5 per cent, first mortgage, duo July. 1024, lot . ... 1 10 400 REALIZING CAUSES REACTION ON CURB Volume of Business Small. Price Fluctuations Confined to Narrow Limits New Yorit, Aug. 24. Irregular price movements characterized trading on the New York curb market and, while a fairly large number of Issues figured In the dealings, tho volume of business was small, with few exceptions. Many Issues showed small gains in tho early speculation, although realizing later brought about a reactionary tendency. Prlco fluctuations in general, however, wero confined to i narrow limits, with the exception of some Of tho higher priced oil stocks. Cities' Servlco common, after open ing down 1. rallied slightly. Tho Bnnkcrs' shares and proferred stock ruled about unchnnged. Maracalbo was steady, International Petroleum sold off fractionally, Anglo-American Oil cased off slightly and Skclly Oil was un changed. Small fluctuations wero shown In Sapulpa and Sltnms Petro leum, Standard OH of Indiana was a shado easier. In the miscellaneous group Acmo Packing, after opening up lo cents, subsequently lost the advance on realiz ing. North American Pulp and Paper continued heavy nt a recession of . United Retail Candy declined on small denllngs. Commonwealth Fi nance preferred continued its upward spurt, advancing over a point. British American Tobacco was unchanged. Olen Aldcn Conl, after a show of firm ness, yielded . Sweets Company of America and United States Steamship Issues wero about unchanged. The mining stocks were only moder ntcly nctive, with slight prlco fluctua tions the rule. INDUBTBIAM Acme Packing; . . , Hrlt Amer ToU rer Chalmers ctfs ... Continental Motor Com Finance Com Flrunce pref empire i ooa Olen Alden Coal Orant Motor Herden Chem Locomobile Motor Prods National Leather North Amer Paper Perfection Tiro nadlo Com pref Southern Coal & Iron . Sweets Co Tob Trod Exp II S 1. & II U S Ship Corn United Profit Sharing. . United llet Candy STANDARD OILS Anglo-Amer Oil 15 Illinois P L 152 Ualena Oil , S3H Stand Oil of Ind 074 INDEPENDENT OIXS Amer Fuel 14 1 Allen Oil is S Hoston Wyoming ."..07 ( Carlb Synd IIH Cities Service "U" ctfs... 12k 1 Cities Service pref 44Vi 4 Elk lla.ln Pet 5!4 Federal Oil 1V Olenrock OH 80 1 Ilnrt Oil itu. Int Petrol , uH Kansas Uulc 0i Lyons Pet 1:30 High Low P, M. 06 80 $0 UH Utt 11 Hi 75 75 It 54 54 rH 00 05Ji 00 70H 78H TrtVi 23U 2CU 25J4 "if $ IX 4 1 B2 B2 62 43 48 48 7 7 7 3i 8H 3H 80 80 81 a 1W J5f it lit iji 2U 2I 2i 4V4 4 4 l'i 1U 111 IS 18 1H IV til 114 0 0 0 15 102 o?i. IB 102 8814 U7H Magma Oil I Maracalbo Oil 10 Mex Pan 1 Mexico Oil 00 New Mexico Arlr 1A Nobis . , 21 Noble pref Q8 Omar Oil lfi l'onnok Oil 31i Producer & Re liners ..... 8U Salt Creek Prod 1)V Sapulpa Ret ,. 814 Slmms Tet 6H Texon 00 Wilcox Oil IK MINING nig Ledge 25 Hoston 4k Montana. 08 Calumet & Jerome 15 Cre.son Uold 114 Crescert MacNanrara, .... 7 Divide Ext 20 El Salvador 17 Cold novel 0 Ooldfleld Florence 8s Oold Silver Pick 11 Harmlll Dlvldo 10 Iron KtoBNom 18 Kerr Lake 3H Mclntjro 11 National Tin 60 New Cornelia 1214 Hay Hercules 20 Ilex Cons 7 Silver Mines ot America.. 00 Tonopah Divide 71 United Eastern 2'i Wt'it End Con 80 BONDS Allied Packer 0 401s Allied Packer n ctfs. . . . 42H Amer Tfl in 1022 flsi Amer Tel 0s 1024 Ansond.t 7s 1020 Anglo-Amer Oil 7H e .... Armour 7s Heth Slel 7s 1035 Ueth Steel 7s 1023 Beth Steel 7 1022 Cons aas 8s Copper Export 8 1028,,, Copper Export 8s 1025,... (lalena 7s Orand Trunk 64s Humble Oil 7s Kennecott 7s Llbby McNeill 7a Philippines oVis Russian Govt 014s....,.., Seara Roebuck 7s 1022... Sears Roebuck 7s 1023..,. Southwest Hell 7s Stand Oil N Y 7s 1028.... Stand Oil N T 7s 1028... Stand Oil N Y CHs Swift & Co 7s 1031 Swift Sc Co 7s 1025 Texas Co 7s tin Drug 8s Vacuum 7s West Elec 7 10 a 08'A m n?8 70C 07 "j 100 100 101 100'4 MONEY-LENDING RATE8 NEW YOlti; Money on call, both classes of collateral, opened today at 514 Per cent for lending and renewing Conditions In tne money market were un changed today. Call money renewed at 614 per cent and there was again some outside funds at 8 per cfirt. Time money was vtry dull nt nominal ijuotatluns of Oil to 0 per cent. In mercantile paper the movement wax slow aud buslensi In the main was at UH per cent, with occasional transactions at 0 per rent, according to quality and maturity, Prime bank acceptances wero unaltered at previously ruling quotations, PHILADELPHIA Call. 0 per cent! time 6 per cent; commercial paper, three to six months, 0 per cent. Note These are merely nominal quota tions, the legal rate of Interest In the State of Pennsylvania being fixed at 0 per cent Plus premium and commission, time money for thirty to ninety days Is loaned at 0 to 014 per cent, while commercial paper, from Ihlrtv to ninety days, la loanod at 0 to 014 per cent. I, FOREIGN EXCHANGE New York, Aug. 24. Foreign ex change displayed an irregular tone at the opening in the market today. While sterling and francs were fractionally higher in the initlnl dealings the ma jority of the Continental exchanges were offered downward. Tho quotations wore: Sterling cnbles 3.07, demand 3.00 j franc cables 7.71, checks 7.70 ; Bel gian cnbles 7.51, checks 7.50; Swiss ca bles 10.03, checks 10.00; lire cahles 4.21V., checks 4.21; peseta cables 12.00. checks 12.01; guilder cables 80.02, checks 80.07; Stockholm cables 21.55, checks 21.50; Chrlstlanla cnbles 18.25. checks 13.20; Copenhagen cables 10.75. checks 10.70; marks 117. Tho rate of premium In Montreal to day on New York funds was 111-32 per cent. The rate of discount in New York today on Canadian funds was 0 5-10 per cent. Central European exchanges were; Greek, 5.03; Rumanian, 1.22; Bul garian, .88; Austrian, .12; Poland, .04V4; Czccho-Slovnkian, 1.23; Jugo slavian, .70. YESTERDAY'S FINAL QUOTATIONS Sterllnir Krnnni T.lrn Oi,lM... Demand 8.00 7.70 4.2414 8O.R0 Cables . . 8,0014 7 7014 4 25 30.80 TODAY'S OPENING- QUOTATIONS Sterling Franca Lire Oullders Demand . . . S.floS 7.7014 4.21 30"? Cables 3 07 7.71W 4 2114 81.02 NOON QUOTATIONS . s.osii 7.74 4.2514 !.:; Denrand Cables BAR 8ILVER Domestic bar sliver was unchanged In New York today at 0014 0 per fine ounce foreign, 0214 c, an advance of V4c. I nn London the price was 14 d higher, at 8b!id. Raw Sugar Market Quiet Washington. Auu. 24 The raw sugar market Is quiet and unchanged, with uneun. trolled sui:ars quoted at 4 80 cents, coat and fre ght. and Cubans at 3H oents. rost and freight. There were no rales reported les tiirday. Importations Included 10.000 liars Porto Rlcos and 18.000 bugi Cubas to tf National Sugar Refining CompUnv? IB.OOO bags to the Federal Sugar Refining f'oiii f "' - "' ' " iu me warper SUKir leflnlng Company Tho ocal refined market a unchanged, with rjtliiorV list nrl?rs ratu Ing from B.80 to a, IB cents, lers 2 -er cent for ch, ' r "m NEW ISSUE Legal Investment for Saving! Bank and Trust Fundi In Ohio, Connecticut, Vermont and Nut Hampshire $1,000,000 Province of British Columbia (Dominion of Canada) Five-Year 6 Gold Bonds Dated Aurjr. 16, 1021 Due Aug. 16, 1026 Principal and semi-annual interest payable In New York City in U. S. Gold Coin. Coupon Bonds (Principal may be regis- tered). Denomination $1,000. Legality to be approved by Messrs. Malone, Malone & Long FINANCIAL STATEMENT Approximate Value of alienable property. .$815,000,000 Net debt 47,931,511 Provincial assets 620,000,000 Revenue, year ended March 31, 1920 12,605,274 Expenditure, year ended March 31, 1920. . 10,083,845 Population, 461,943 These bonds are the direct obligation of the Province of British Columbia, the third in size of the Provinces of Canada, having on area exceeding 238,459,000 acres. The natural resources of the Province make it one of the wealthiest In the Dominion, and its mining, shipbuilding and fishing industries make it an impor tant factor In commerce all over the world. Victoria, the capital of the Province, Is one of the richest resi dential cities In Canada. Vancouver Is one of the most Impor tant commercial and industrial centres on the continent and with Its wonderful harbor, the gateway to all trade with the Orient At these two ports were cleared over 6,000 vessels last year with a tonnage of over 8,000,000, or more than at any other two ports in Canada. We recommend these bonds as a safe, conservative municipal investment, and offer same subject to prior sale and approval of legality at 94 and Interest, yielding about 7.50 Orders mav os telephoned or teloorathod at our eapmss. Bonds delivered in anu hank, vavaoU in lfeu Tofh Funds. Miller & Company Brandon, Gordon & Waddell Members New York Stock Exchange around Floor, Sinter Building 120 Broadway, New York City 89 Liberty St., New York City Telephone Rector 7500 Telephone Cortlandt 3183 The Information and statistics contained In this advertisement have been furnished us from sources we consider reliable and are) accepted by us as accurate, being the data upon which wo based our purchase of the securities. M Hi liffiU "lf rHIH BBI J It 'M&FlEmJS'lTC'jjfl- ;BSrB""""""illl4TMa: Jff' BANKING is not all a matter of Money, Metal and Marble. This bank has a fjersonality manifested by the cordial re ations which exist between the bank and its customers. This human element makes for pleasant as well as efficient banking. Central National Bank of Philadelphia Chestnut Street at Fifih Capital $1,000,000 Surplus and Undivided Frofiu Earned $4,400,000 The Foreign Situation is reflected in the advancing prices of foreign Government and Municipal Bonds in this market. Write for Letter 7334, in which we recommend five of the most attrac tive foreign obligations. Bonbright & Company 437 Chestnut Street, Philadelphia New York Boston Chicago Detroit Railroad Securities are affected today by certain fun damental conditions which we discuss in our circular PL435. St. Louis & San Francisco and Rock Island are the concrete examples we uso to deduct conclusions applicable to all others. Copies free. Meter J. Schmidt L Co. Member CbtwXdectd JlocA Etxiangt offfewYoeK PHILADHIPHIA . 1W3 Walnut Street i?22!bV?!?t',6(l0lKyftne,Race S7B1 NEVYORKi 30 Broad Stieeti 319 Fifth Avenue ni m 1 n f u Ho I., i ,lS if. t ..fcn ''V, . ,t ...., J j.vJ4im4 3n ., te :,! A.m . ' ,
Significant historical Pennsylvania newspapers