ji' -TTyj; 1." ru"- '. w- ,' f v f.MK ., 1. V... ' i A, J . 1- " . EVENING PUBLIC LEDGERr-PHILADELPHlA, WEDNESDAY, SEPTEMBER 7, v : , . 7 iHR IV"v ;v it if V - is m W . t' Ity ! n'-- ?.'!k)1 . ' .1' M I MARKET WAS FLAT (V II , rA ' II - rrmmm -a : I feUIIIIJ-? 1. NSW x;ciuynML Tax Free In Pennsylvania Free From Federal Income Tax Commonwealth of . Pennsylvania Highway 5 Bonds DIK AVOl'ST 2. 1031 At price to yield about 4.8757o Circular on rertvett for PE m The National City Company Philadelphia 1421 Chestnut St. Atlantic City ChMJonte Dlock t 1225 Boardwalk Z.K (Wt PV vZflfc Spruce 8200 BOUGHT SOLD QUOTED UNITED STATES GOVERNMENT SECURITIES All Issues .SECl'KITIKS DEPARTMENT commercial trust Company Memtirr Federal Ucrve System City Hall Square Wet Tax Free in Penna. Jamestown, Franklin & Clearfield First Mtge. 4s June, 1959 Buffalo, Rochester & Pittsburgh Cons. Mtge. 4,2s May, 1957 Prices on application. Budget & Co. Real Ettate Trust BIdg., Phila. New York Race 4360 boston Chicnj Walnut 1606 AND VERY NARROW Prices Became Irregular When Demand From Short In terest Slackened I New York, Sept. 7. Contrasted with 'some of the Immediately proceeding scs I sions. the trading In today's stock 1 market was conspicuously Hat. There was somewhat of a brief splurge a I the outset, but the general list qnicklv 1 showed signs of weariness. There was also another senational whirl In the 1 cotton market and much the same as the recent elevation of the stock lis", the rapid advance ran Into libernl realizing sales. Increasing irregular ity followed the opening nihnncc in the stock market, but ns the day ad vanced the whole list gradually worked into a narrow groove. Sentimentally there was mnili the ' same reason for resuming the advance movement as there was yesterday. Tlirf market, however, lacked the same mo tive power and quirkly revealed n con spicuous Inability to follow tip the improvement of the preceding, three davs. I'll Is clearly indicated one of two things Kither the short interest had been materially reduced, which U quite probable, or else the bear ele ment found nothing to caue them worr about concerning what short ojnmltmcnts there might be outstand ing. In all events, what further cov ering of short contracts there were during the morning these operations were greullv facilitated by ronton of the liberal profit-taking sales. Heading between the lines the specu lative clement did not take kindly to the advertising of the change in posi tion of the former prominent bear trader to the bull side of the market. Statements as to his remarkable shift ing of position was construed with a great deal of suspicion and few were disposed to follow such llliusy leader ship. , , , , . .Most of the transactions in the initial dealings were in small lots, whereas icsterdav the early operations were marked by unusually big blocks There was some further cocnug In the oil. steel nn'd equipment shares, but Mie whole list before the end of the hrst half hour quickly showed signs of weariness Mexican Petroleum. Cru nble Steel, tlcneral Klcctrie. Chandler .Motor. American Sugar and Manatl Stiear registered early gains, ranging from liberal fractions to nlnmst - points. The heavy side of the list was repre sented bv United Stntes Rubber. Har vester and American Smelting preferred, in which substantial reactions occurred. Soo" was strongest of the rails, rising 2 points in connection with the sale of $10,000,000 bonds, and ex tended its gain to 4 points, nnii otner rails of the investment and "speculative ipes were in demand. Cotton cnrrlers wen- mate-rally strengthened by the tiirther rise in that staple and Wiscon sin Central was conspicuous for Its gain "f "i points. Tobaccos, secondary motors" and steels. North American and United Drug first preferred also were strong. The list fell back before noon, however. American Sugar reacting al mot .1 points, with heaviness in Utah Copper and Mercantile Marine pre ferred. DULL EARLY SESSION ON LOCAL EXCHANGE Only Three Issues Come Out in First Half Hour Bonds Show Some Activity NEW YORK STOCK EXCHANGE TRANSACTIONS 1 lv. Ill J E. H. Rollins & Sons i- 4tt-ci ism Investment Bonds 1121 Chestnut St., Philadelphia l'lfi" st, nice .VlflO Ronton .Veu' York IVllkcs-Iiarre Baltimore Chicago San Francisco New It sue Province of Saskatchewan 6'. Gold Bonds Due August 1, 1927 These bonds are a direct and pri mary obligation of the Province of Saskatchewan, Dominion of Canada. Price 92"8 and Interest Yielding About 7h (for payment in United State fundi) Send for descriptive circular Hmcnie dullness marked opening operation on the local stock exchange this morning. The firt half hour biougbl out less thon l."0 shares with price changes that were of little in terest. , v A gain of a quarter was made by Pennsylvania Hallrond on transaction- involving less than a hundred shares, the price winging from ,W4 to 38. Phl'ndelphia Klcctrie was unchanged on a small turnover as was also Klectric Storage on sales of a few odd lots. The bond section of the exchange showed better activity than did stocks The I.ibertv issues were the favorites with the Victory 4-s selling in good sized, blocks at IIS.OS and the Liberty second 4V4s coming in for a share of attention at S7 S2. There was not much change during the balance of the morning as the trad ing remained on a very limited scale. The only price alterations of note was the further advance In Klectric Storage i rinttKrv of n noint. to 108. and the rise of shore. lai in West Jersey and Sea- Philadelphia Stocks Pertinent Pointers 0)1 V. S. liuliber ll. Steel hie. Coca f'nlu Siirfull, ,c nt. Iluttrrlrk I n. Itrl. More Kellj-Spc Cnillr.jll-Julin. t'cnrrnl Klectric ate lontuimd In the current number of our Fortnightly Review A croup pii:eli,i- of fhe riivflnul-in hiR nocks on which tli-' annual "leld. is 11 Is rl tr -scnt'l M'nte of firr copy of I'l.lli F. L. WITTMHYHR & CO. Iiiruriiuruted I ill rs i i ,. ' Scr in tit 1 '42 Broadway New York .10 Am Sirs JO Itrill .1 : 20 10(1 KlccStnr.lO's 170 Luke Sup 1! I.eh Na 12.1 Pa U II 40 Phila Co cum of 70 PhilaKle. On do pref 11. - Phila It T 'JtMjtTex & P c & o 2."! West Jer i: S. . ItlBh FjOW (i-l ; 01 .-is", 31 21 Ts 20'., 17 20 107 (.. :i :u 21 'i 211 . 10-s 1 1!1 1. M .M", 20 Ids Net ch(r 4- H 4-1 04 4-3S'H- m .. 21 t, . 20",.. Id's ynlfs 300 200 00 7400 300 .130 too 100 000 .100 3011 100 100 2S0O 100 100 1200 loo too 000 COO 701) 4700 ton 7100 1S00 aoo 3700 1H0 1.100 300 8400 000 13100 2100 too 1500 .00 100 400 1)0 1000 300 100 200 100 1200 200 200 MOO 400 too 3100 1300 300 .1400 too 1600 101) S00 1000 1 too JOO 200 200 000 too 1400 : 4300 13111 3700 '.'Oil 500 ISO I) 900 200 100 1000 100 100 500 200 N0O 500 4700 200 300 900 .1000 200 1000 100 100 2100 1500 100 200 100 COO I BOO 20o 900 100 000 1000 1700 3100 200 1400 300 900 1700 100 500 200 200 12 lllrh Adams Kxprees .... 4'4 Advance Humcly .... 11J4 AJnx Rubber 30J4 Alaska Juneau O M.. l'i Allls-Chatmers 83 y. Allied Chem Dye... 38 Am Agrlo Chem 3.1 Am Bosch Magneto.. .13 Am Can 3H Am car ft VAy 187 .. Am Cotton Oil 20J4 . Am Cotton Oil pf.... 45 . . Am Drug syn 414 Am lnternat Corp .. 3tH 1 Am-La Franco Kng.. 8J' 7 Am Linseed pf 43 6 Am Locomotive 88 . Am Safety llazor.... 354 .. Am Ship & Com fl4 . Am Smelt See 30 7 Am Smelters Pf . . . . 86 Hi s Am Steel Foundries.. 21 Am Sugar lief 83 7 Am Sugar Itcf pf . . . . 88J4 7 Am Sumatra 4754 9 Am Tel & Tel 106H 12 Am Tobncco 135 7 Am Woolen 734 .. Am Zinc Lead A Smlt 7H Anaconda Copper . 37Va 0 Atch Top A Santa Fe. 85 .. Atl Oulf & W I S S . 26K . Atl Gulf & W I S S pf 3I6 7 Haldwln Locomotive . 80J Baltimore A Ohio . . . 3814 4 Daltlmore A Ohio pf . . 5114 Bethlehem Steel B.... 514 Booth Fisheries 3H Butte Copper & Zinc. 4 .. Butte A Superior Cop. 14H Buttcrlck 35M Caddo Central O & K. 104 2 Cal Zinc & Lead 4 California Packing .. 03?, California Petroleum . 30J4 7 California Petrol pf . 74 K 10 Canadian P.iclnc .. .11394 Central Leather . . . 27. Central Leather pf . . 0214 fl Chandler Motorn 45 . . Chesapealto A Ohio . . 55 . Chi A Or West pf . . 10(4 . Chi Mil A St P ... 28J4 .. Chi Mil A St P pf. .. 39- 5 Chi A Northwestern.. 8514 Chi It I A Pac 33H 0 Chi It I ft Tac 6 pf. 85 . Chile Copper 10 H . Clilno- Copper 33 Coca-Cola 35 n Colum Gas A KIcc... 50J4 t-olum Graphophone . 3H 7 Consolidated Gas .... S7 .. Consolidated Textiles 10(4 Continental Candy .. s x Corn Products Itef . 70 7 Corn Products Itef pf 101 . .10 Cosden A Co 26 V i Crucible. Steel 59 v2 Cuban Cane Sugar .. t!4 Cuban Cane Sugar pf, 20 D Delaware A Hudson. ,100' 10 Del Lack A Western 100(4 s Endlcott-Johneon 014 Erie 13(4 Erie 1st pf 19(4 . Erie 2d pf 13 3 Famous Players L ... 57J4 8 Famous Players L pf 80 4 Federal Mln A Smlt pf 33 10 Fisher Body . . . . 87 7 Fisher Body pf 100 . Fisk Itubber 1014 Freeport Texas 11(4 General Asphalt 50(4 3 Ueneral Aephalt pf . . 87 8 General Cigar 574 H Ueneral Electric 121 i l General Motors 10(4 fl Gen Motors deb 6.. 64 7 Great Northern pf . . . 7.114 i Great North Ore ctfs. 28(4 .. Greeno Cananea Cop. . ?0"m . . Gulf State Steel .18(4 Houston Oil 504 1 Hupp Motorcar 11 to 7 Illinois Central 95(4 .. Indian Refining 7(4 eo lnillahoma Itcf "H .. IntTb Con Corp ... 2 lnternat Agrlcul 7?t 7 Int Harvester new. . . . 78(4 int Mer Marine 10 0 int Mer Marine pf. . 45J International Nickel . 13 Js .. International Paper .. 444 . Invincible Oil Corp .. 9(4 . Island Oil 2?, . Jewel Tea It Jewel Tea pf 33(4 Kansas City Southern 20 '-a 4 Kclly-Sprlngfleld Tire. 41(4 . Kelsey Wheel 58 Kennecott Copper .... 10H Keystone TAB 12 14 .. Lackawanna Steel .. 40(4 700 3 50 Lehigh Valley 31 J0 1.30 Net Low I' M Chuo Sale 46(4 4014- ton 11)4 1(4 (4 900 30 30 (4 300 114 t'4- V no 33(4 33(4 1000 .18(4 38(4 4' V 45600 33 33 3300 33 33 400 27 J4 37J4 t- 800 137 127 4- 74 2500 20 20(4 - 400 45(4 45(4 4- 3'i 1700 4(4 4(4- (4 300 30(4 30(4 1800 8 SJ4 4- to 100 43 43 4- 1 100 87 f)8 4- 1 100 3M 34- 14 1 900 04 04 (4! 0 38(4 38(4 4- (4 300 00 68H- to 1400 34 344 4- to 108 80(4 81 - 1 100 88(4 89 4- to 4200 48 VI 48(4 4- (4 190 106(4 108 H-f (4 100 124(4 1214 4- to JOO 734 734r to 100 714 7M- (4 200 3. 37 4- (4 700 834 83 U 4300 244 20(4 4-1 0200 alto 'II4 4- H 000 74 80J4 J4 3800 37 to 38(4 4- 4 1000 51(4 51(4 4- to 000 51 51 - (4 800 34 34 4- to 400 4H 44- H 8280 14(4 14(4 3800 25(4 25(4 to 200 94 10 4- (4 600 3-4 3J4 4- !. 201 034 04 , 80 36 36(4- 14 ton 74(4 74(4 1(4 400 1134 113-4 H 000 374 74 t. 700 02(4 03(4 (4 400 44(4 45 1 ?00 544 544 4 stoo 10(4 10(4 too 25J4 30(4 J4 goo 3S4 3044 1(4 200 85(4 0to '4 100 33 H 33(4 I '4 400 85 OS 500 10H 10K4- to 500 33 33 - (4 100 35 35 SOI) 56(4 A6(4 r H 200 3(4 3(4- (4 100 87 87 - 14 100 15(4 10(4 4- s 403 3 H 8200 60(4 094- to 200 101 101 - to 7800 254 36 H 1800 58(4 5 4 7400 8(a 8(4- ' I 8(10 I0H 204 J 400 100 100 1 300 ns(4 ioo(4 4- 2'? 400 61 to 0194 s 100 13(4 13(4 100 10(4 10(4 i "2 ' .0800 134 13 4 ' J I 500 30(4 57 to ' 200 80 80 - to I 700 33 23 1 ' 4000 86 87 1(4 1700 100 100 3300 04 10(4 to 200 ll4 llto r V 7300 48(4 40J4 14 9700 87 87 3 ' 200 57(4 57to '4 000 12.1 H 1244 to 100 ay," 10 700 04 (It 200 73J4 73(4 4 I 400 28(4 2S!4- (4 4100 204 204 - to 500 35(4 3R(4 4- 2?B 100 48 50 94 f 3H 2000 11(4 llto- to 4101) 95(4 95(4- to 200 7 b 7 (4 - H 8500 J to 2to- to 400 2H 34 , to 3300 7(4 "T H too 78 7H(4- yt 3100 10 10 f 14 (100 11 454 1500 13(4 3H -. t 100 44 It 100 8, Of, 200 23 'u T, inn 10(4 it to mo M'-t .11(4 1 100 20 : i 14 ii'i) 40' ; 41 1,4 100 58 38 4 to 200 19'4 19(4 1 H 100 124 124 4 (4 I'"'0" 30(4 39(5 (4 300 51 to 51 Ji 4- to 100 .' 34V4 Dlv. In I illch . I)ewe Co 13 (4 1 Loft Candv 0(4 12 Lorlllard Tobacco ....1404 7 Louisville A NashVlllelOftto .. Manatl Sugar 374 12 Mrxlcan Petroleum . .114H 3300 l.on Middle States Corp., . . Mldvnle Steel , . Minn A St Louis 104 M St P A S St M L L 71 ,. Mo Kansas & Texas,. 1(4 . . Missouri Pacific 10 . . Mo Pno pf 38 . . Montgomery Ward . . . 18(4 7 National Biscuit pf...ll . . Not It R of Mex 2d pf 4(4 .. Nev Con Copper 10(4 5 New York Central... 73(4 . . New York C & St L. . 58 .'. New York N H A H.. 154 $ N Am Term ctfs 37 3 N American pf ctfs. . . 33(4 7 Norfolk A Western... 88 7 Northern Pacific 74 to . . Nunally Co 94 .. Okla Prod A Ref. ... 1J4 t Orphcum Circuit .... 31 .. Otis Steel 04 . . Pacific Dovel Corp. . . 10J4 .. Pacific Gas A Elcc... 56 Pacific Oil 36(4 6 Psn-Amer Petrol .... 50(4 6 Pnn-Amcr B 44(4 2 Pennsylvania R It.... 884 Pcnn Seaboard Steel. 9(4 Peoples Gas Chicago. 50 J4 Pere Mnrquotto 184 3 Philadelphia Co 38J4 Phillips Pet 334 Plcrce-Arrow Motor . 13J4 Plerce-Arrow Mot pf. 28 Pierce Oil 74 8 Pitts Coal 67 -4 7 P Ft W A Chi nf I9A ton 1 50 Pond Creek Cool 14 Pressed Steel Car H 8 Pullman 85 2 Pure Oil :.... 85(4 R Railway Steel Springs 81 Ray Con Copper 134 4 Rending 60(4 2 Reading 1st pf 384 Remington Typewriter 23(4 .. Replogla Steel 24J4 . . Republic Iron A Steel. 474 Republic Motors 8 20 Royal Dutch Amer... 81(4 .. St Louis San Fran... 24 . . St Louis San Fran pf . 30 . SIL43WRR 36 St Louis Southwest pf 84(4 1 St Joseph Lead 11(4 Santa Cecelia Sugar.. 2( Seaboard Air Line pf. 04 Sears-Roebuck 69(4 .. Seneca Cop Corp 174 Sinclair Oil 204 8 Southern Pacific 78 Southern Rail 21(4 .. Southern Railway pf. 48(4 8 Standard Milling 91 5 Standard Oil of N J.. 136 7 Stnnd Oil of N J pf . . . 100 J4 7 Steel Tube pf 70 2 Stewart Warner Speed 24 7 Studebaker 74 4 1 Submarine Boat Corp. 4JJ . Superior Oil Corp.... 34 Tenn Cop A Chem.... 8(4 8 Texas Co 36 (4 Texas & Pacific 24(4 1 Texas A Pac C A O. . 19 1 Third Ave 1.1(4 0 Tobacco Products .... C9 Transcon Oil 9 Union OH 18?, 10 I'nlon Pacific 1104 t'nlon Tank Car 8714 8 United Drug 50(4 .50 United Dru 1st pf . . . 394 0 United Fruit 100(4 6 United Retail Stores. . 54 U S Food Products ... 17 to 4 I H Ind Alcohol 40(4 ..US Realty & Imp. . . . 404 U S Rubber 484 8 U S Rubber 1st pf.... 86 5 U S Steel.; 764 7 U S Steel pf 109J4 2 Utah Copper 4S Utah Sec 0'j .. Vanadium Corp 31(4 .. Va-Car Chemical .... 31(4 .. Vivadou Inc 74 . . Wabash 7 (4 Western Maryland . . 9(4 . West Maryland 2d pf. 174 Western Pacific 31(4 4 WcBtlnghouso E & M. 44 . . Wheeling ALE 84 4 White Motor 33 to .. White Oil 84 . Willys-Overland .... 0(4 . Willys-Overland pf . . 28 . . Wisconsin Central 30(4 0 Worthlngton Pump .. Mi .25 Wright Aero 8 txiw 13(4 Hto 1494 10(4 20 to 189 (4 UK 214 10(4 67 1(4 18 to 87 to "to 113 (4 10(4 llto 50 l94 38(4 83 J4 93 73 04 tto 21 9to 10 65 35H 48(4 48 88 84 86 10H 38 23 13J4 28 7(4 57 to 130 14 84 94(4 25 80 13 68(4 38 4 32(4 83(4 47J4 9 604 23(4 36 25(4 34 llto 2to 9(4 66(4 I7H 20(4 77 2114 47 to 90(4 130 100to 70 24 7.14 4(4 3 to 8 36(4 334 18 13(4 07(4 8 18(4 110(4 87(4 48(4 304 106 63 ft 17 46(4 48 47(4 85 75J4 100 17(4 0(4 .1094 31 7(4 7(4 0(4 17 31(4 14 84 3374 84 (1 38 2S 37 8 1:30 Net T. M. Chae. 13 to - to 8744- to 1484 84 109(4 4- lto 384 4- 74 114K 13i', (4 31(4- to 10(4 4- to 715 1(4- to V84- to 3774 to 18(4 4- 1 113 6 4(4- V 10(4- to 71(4 88-1 154- to 364 14 3JJ44- to 95 - 4 784 to 874 to 1744- to 21 to 74 4- to 10(4 55 to 88(4 4- W- 60(4 4- H 44(44- 1(4 384 to 8(4 . 50(4 4- 4 l?4 to 38(4 r H 23 to' 124 54 38 1 7H to 87744- 1 120 - (4 14 H 84 - (4 95 35 811 12H4- to 08(4 -4 384 to 33 (4 lto 23(4- to 47H4- 54 e 811 3374 74 36 1 25(4 to 34 74 11(4 . 3(4- to to 74 884 2(4 174 H 20?4 34 774 94 31 94 4774 74 01 4 to 130 (4 10074 70 - 2 24 94 74(4- 14 4(4 374- to 8(4 94 3694 to 24 (4 1994 94 13(4 - to 09 1 8(4 54 18(4 .. 11994 94 87(4- (4 4894- lto 3994 194 100 - (4 3474 74 17 46to- 94 49 14 48(4 4- to 85 704 H 109 (i to 18 9(44- 1 31(4 4- (4 31(4 4- (4 'K-i to 7 to 9(4- to 1794 4 7 31(4 44 894 . 337i to 894 4 '4 0(4- (4 38 (4 30(4 5(4 3H 1 8 ADVANCES ON CURB OFFSET BY LOSSES Amalgamated Leather Declines to 8, Against 74 Last Year New York, Sept. 7. The market for curb Issues was fairly nctlve In today's trading. There were further demon stration of strength in n number of issues, but these were offset by weak ness In several stocks, the declines in eluding the establishment of a new low record 'n one Isruc. Amalgamated Leather, on sales of fewer than 1000 shares, dropped from 11 to 8. A year ago, it sold nt 74 and In 1010 was traded In nt Q0. Glen Alden Coal continued in good demand, advancing to 30, and there was renewed accumulation of Common wealth Finance, rhe common stock ranging from 05i to 004 and tho preferred selling nt 834 to 834. Hol brook was another strong feature, ad vancing to 15 There was Btrcngth In Phillip Mor ris nt 4 and 4V. nnd It. J. Rey nolds II stock changed hands at 80. Tobncco Products Export, however, yielded fromC to BVi. Ooldwyn Pictures was steady nt 8Vi. Petroleum stockn continued to move within a "narrow range and Ehowed lit tlo Inclination to follow the vigorous advances recorded on tho stock ex change. Standard Oil of Indiana ((bowed n strong tone, ranging from 09 to 70';4. Maraenlbo, which had been In demand for tho last two days, was un der pressure nnd ranged from 18 to 18. Simms Petroleum found support nnd sold nt 0& nnd 0. Klk ilnsin was firm, selling at 0 to 0V4- INDUSTRIALS HlRll Amer Leather 11 Cor LUht 1A Columlila Kmerald Is. Com Flnanco 0 Com Finance pref K34 D R O D R Q pref . . . Glen Ald-n Coal . Ooldwyn Picture . . Ilolbroolc Inter Rubber . . . UocomoMIe Nat Motors Pe rfnctlon Tire . . . Philip Morris Radio Com Ratlin Com pref R J Reynold- (new) South Coal A Irort Standard Motor Tob Prod Kip . . . . U S DUtrlhutine It M I. A II IT 3 Ship Corp . . Wayne Coal . Weat Knd Chem n". ns 70 80 8K l".;, fl'4 51 2i 80 4Vi IS IT. 3(1 2. art 22 iA 28 14 08 STANDARD OIT.S Atlantic I.oboa 10U Prairie O 4 O is I Indiana P I. "34 Southwe-t PMin B.I Stand Oil of Ind 70l4 StulM Oil of N Y 323 T.OW 10 1 IV. 034 H314 3M 03 35'i 8U ir l 51 2H bO 4 30 224 l". 2.1 K 03 104 13 734 32 WlH 323 1-30 P M. 10 ii.V ll'i (111 4 834 3H (13 30 a'l ir.9 "t r,i 24 SO S IS 30 22 li 2a l'i 03 10(4 1M3 784 n.i 70(4 323 lNDKI-ENDKNT Oim Commodity Markets GRAIN MARKET Chicago, Sept. 7. Wheat started VjC lower to ' steauv to tc higher for September; 4c higlier for December and gether with some locul demand from trade sources. In keeping with the advance In cot ton nnd stronger stock market, there was n more optimistic feeling in cof fee circles ttidav. ic-iiltiiig in u firmer market, midda finding December nt 7 .ri!S, or 11 point-, net higher and about SS points above the low lvvel of two weeks ugo. Mai mid at 8.10. or 11 Financial Briefs 10', I!)', l!i,- x; N t ' h.intit, tnnd. imiHriHon with -m ait unrhnnged to 'ic better for May Of- ferines were ltcht nnd there was buying points nboe Inst'iiln it's idoslni! licures. by scattered commission houses. Locals , llriizll continues to hold firm, cost and ,. . , --!-. n rnnxtiAn freight offers are higher, and lllo ex- sold on the upturn, forcing a reaction cu Imdon n(jvaD'ci,1Ki The ,. Itecelpts inspected yesterdny were .- CQ Hpot mHrket reported a continued cars' last rear, 318 enra. The cash good demand for coffee nt higher prices. market was' easier, with premiums re-, Dtcembr Previo-- .og-. uueeti. . i iiirea 7 j Kxport burinesw yesterday was only May . 7 on onn nnn imshels. Manltobas. Mlnnc- Julr 8'3 anolH reports white tlnur pri(.es 40c j a barrel higher and rye Hour 23c higher. ! FOREIGN EXCHANGE Deliveries on September contracts here ,nv York, Sept 7 With one or this morning were 110,000 bushels. , two exceptions, including marks, which Weather conditions generally are fa- showed a new low on this immediate vorable Countij offerings to arrive movement nt 100. the foreign exchange are light , 1 mniket showed it ralhing movement. In 11 statement issued at " hmhiixumi Mcrnng was '4c higher, francs were Improved slightly nnd lire were up a point. Helginns v. en off 11 point. The quotations were : Sterling cables ,'!70:!(. demand 3.70'', : franc cables 7.(llIa. cheeks 7i0'j: lleiginn cnbUw 7.4S, checks 7 47; lire cables 4.Xt. clieck I..T"j ; poeia cables l'j.lis. checks PJ. !)."; Swiss cables 17.(l.'t. 1 he ks 10.117; Den nuirk cables 17.1(1. clucks 17.3"i; Nor waj cables HMiri. 1 hecks 13; Sweden tablet L'I. -10, clinks 21.3,"; guilder (Ilbles 111 150. chicks 31..i.i. The avprnga price of the twenty active in. UUMrlal :ttfcl(- advanced 2 12 pur cent yei terd.iy to 6 12. while the twenty rallroadi ndiunced S3 pr ccrrt. to 72 111 r 711 T""" a'lrt ''ellle Kallr..nd Companr n-pnita net corporate (ru'ome fur the yt-ar cntlt-d DeremLer 31 of SJ.U31 014 ,,111.1 , lj 11 uk.... .."... -T - : - " w , . .. runrr i.tt;i wharo compared with il.sflii.Ntto oariiwl In (lie previous sear t,Shi in5h"nfr ""'""'"' are said now jo nae information as to v. ho wa short of knwn.1i?.,lr'"u?, "hlch many menrbera anew sefral weeks auo. ..L' '.i"1". """'1 . the offices of J. p Mor-hSPnnth1-?....,"."''"' ."?" '?'! th.. Inter- snwso , ;a.7 "".'L'. VV? 'S. ?"?"? "t tne 1. nnwiig ' . - '" iilu ttjc.iii.iuu worm nr tnree k ?n"2 "?' ' Pr cent oltl bonds to next September S 10S20 J d reached 8.18.0011.0(10. Thl, leaves abbut i5.lt- 'il fenewala to cuma In befora the iidin 11 it,,.", "'" yuu" on Friday on ihJ!.. Jul1"- M. Maer's ex-parts order to show caus" why a recv r for the Inter hnrouich should it be uppolnted Untiles S, Mattl-twi, In irargo of i,r,r triidln; 1 n announce that Hi-nrv lm n-tiiclateil with th-rn oeparlment Secrctar of Commerce Hoover warned farmers 'that they were unduly depress ing prices by marketing their wlient in excessive volume. r-.irn tmrtpil iinchnnired for Se litem- iv'ber ami lsc to "c higher for Decern- The miirnei eiiscn mi um.-i -- ber tat-r. ()nt opened 's1' to higher, wi th si iitlered coiiiinl-Moll-lioo-e Locals sold on the upturn. hu.titig. Sl !Hi .!)(( i For September Investn'.ent selectitl II-1 o.' ultl-lilie rails to ii 11 from & "5 U r Industnnls w. 11 secured ccnserwun 1 uiaiuiB' 1 to Jlelu j r s V'0C'JIR BlM Phiudiuphia NIW V0K UllKWIH. H 1. i-iiii.iM.riii wish-. 11100 I.iliem -Jd l'i" 'I- 7 ii(lfH) I,lbert 3tl lJ,ts 'J . Ill KKKI I.lbcm ttll i' ,s '3S. ... 7 17 Libcm 4ili I',- '"- . -7 li'J l.'li(S) Victory Ci" "S. ... O- IN 00 Amer (ins Klcctrie ,"n. . 71 1000 Doll Telephone 7- .... IO.'i I'.IIOO I'lOftl'if & I'fO IS., -lots .".." 'KKKI !' niislvaiiin ('.'." . 101 L'ooo I'lii'ndelphin l'.-- 1st ."s M'.i, KMH) Uunliiig gtiieral Is "tl Reduce Freight Rates to Texas V.i.hiOKlun. S'-pi T -K.n. .,ii,l wain rr r m rr iulli"i "l " 'I,'1 Inlir.'.i'o i uni- m rti .itnniiss'tin i --1 t, r,Miui, rats un fieiuht from th Ai'ttntM Cuut to T-ttis in lnt b whv of tlnlest4,n Th ftrnmts moii thtrbv r- crt-r-.J its furrn-r dt-elsion tn ihf cure In khltti it I el'l iht the r iljr .ns r .iiiMnd bs thr Malltirs and Murxan I i'lett u.i tint iUtlrt-i) ex pt In ttrtaln parllcu i rs Itn I - 'rd practices of th, MurKun l.iit ure rcilijei-t lu the prtiv Isluns of the 'I i .uiHjiorUtitm Act to the sam-- eitetit a - il.e i.iilr'iitd (m th's Kr iitnd th1 corn mission derjdiM that It bthm nf,'i.sarv to iiMinut the Mork'un I, int, to ledu'c tts rat. h in meet thoo if the Mullni 1 Inn .,,r wh'c i tli, i iiintn.ht'li'n hatl t i "inirol in order to enable the Mm sun I.me tu toinite with n,c M.i llcir MONEY-LENDING RATES COTTON MARKET Veu Vorli. Sent 7 The mnikei 1011111111 COU1H' nt t all sold fr ., lt Willi I YESTI-HDVY'S ri.uSI.Vij QfOTATIUNS ' Olton I HterlniK Fr-tncs I.lro tlulltlors upward Pemun ami', 7.n i4 4. a- 31.30 , i .. .1. v ui-- ,i in-) , tit , ,i-j ni on he openillK lot n nnn mi in- TODAY. S OPi:.Vl.s(i QfurATIuNS m 13(1 t'i l.'J pomt.s liislier (:u,M,r- thiin last nisht's close. I he tratle was i.rnanj a 7u . 7 fiu4 4 a:-4 ai :,; s,! heavy ond genernl Hint it was im- ,c.n.i v 7 M4 ' 33 ai un ....tL,hl tn t fteit nll.V I ICCIUI l mi ii rt- Ilue to th sal of crtlncntes of Indebt edness in i.-re.iter volume than wnr debt """ retliril there was a net lnrrevM In the '--' h-mi i im; rn ira nintn III! n JiUKUst nf ir.l,0!l.(l38 to $23,022 3"0 OflO rrensut, crilfl.ates outstnndlnc on August ' V? ",n, '"ereaso r,f J203.3fi;i noi, ,nr luiy 31 due to th fnet thai no t.ix in HiallniMiis w.ro paid n that month -y. Th Allen Oil 40 Allied Oil 4 Allied Oil new 31 Atlantic Oulf Ill , Atlantic Pel 2i Arkansas Nat Gas !4 lloone Oil 20 Itortnn VoinlnK Cnrlli Pynd . . . Cities Service "U" ctfs. Dominion Oil r.IK n.-isln i"et . . . Hnitlneers Petrol Fenslond . . . Olenrock Oil . Clrannila ... Int Petrol nn I.lvltiKstorr t.vnns Pt Mararalbo Oil is. Merrllt Oil Mexico Oil Mountain Producte . . Omar Oil Producer A Rennera . . Salt Creek Prod Slmms let Skelly Oil Texon . Western States . . MIN1SO Alaska Ilr t'olumbla Iloslon & Montana . Candelaria Mlnlnc . . . . Cresaon Gold . nivlde Kxt . K.I Salvador Kurkn Croesus Ooldneld FlorenCH . . (iold Zone Itecla Mlnlnc . . . MacNamara Mother I.nd CM National Tin Neinda 0h r Nlplssltrr . ... Ra Hercules Rrx Ccns Silver M lies nf America . So Am P 4 U Tonouah DIMde ... Tuolumne White. Caps Yukon Oold ., UONDH Anaconda 7s of '29 Armour 7s . . Ileth Hteel 7s of '33 Can Nat R sj 7i . . . Chi Un Hta U4s Cons Oas hs ... Copper Kxport 8s of '24 . Oalena 7s . , Ooodrlch Tim 7s ... (J ran J Trunk U4s Oulf Oil 7s Humble Oil 7s . . . Intcrhoro 7s ... Kennecott v ... I.'bby McNi.111 7s Minn St P ft S N Y N It A II ts Otis Wlcel Sm n J Remolds c,s Krnra-ltnolmi I. 7s of '22 Stand Oil N Y I14s Swift 7s of '23 Swift 7s of 'at Toxas Co 7s ln Ry UnwitiH 7 4s Viu imiii "II 7s Swiss .M4 II H Hi .i7H Sh 40 4 St 111 2K t'4 IN 72 40 4 ai in 24 r.3 20 72 -ii. ai. a uoiiiii if iw n x-rept Hint, piissniij. in- -"""" "" " heavier sdlcr this morning. There wn , , treiiientloiis iiiiioiiiiI of liquidation., whieli wits nbsiiibul by new buyers. The Liverpool market was wild eaib nnd exce.dingl.v Htroiig. but turned Middenh weak nnd nt the time of the local opening hml broken '.)." points fioun the top, ispllH to inn .viiirrnuu iiunne. BANK CLEARINGS UuuU eiiinirs imiiiv cimptf'tt with i r,sindinx dt I tsi two Nerrs ui'l ltui) l'tlli T.aurentldn Cnnitianv l.i.l ,. .w Miir endul .lun 30. shims prollt lifter lix dpr.tlaton snd depletion of JI.M3 02S After inyment of Interest. 0 pe- nt dll Menu nnd other rlmrKes surplus was 12 7S7 -II. S A lt-t.-M. ,,f t..(mo,000 was sst aside for pni.11,1 rt'P'e. Intlon nf Inventories t otnpsnj h-iH no l.iinilnl Indebtetiness or nrererteii ntnit i,d fnlc loans nf js n7 ni.1 "si in"','f, '," Invesimenta of J3 (171 S33. which ileld d Intomo of f3l!M197. The weaknees of stocks nt the e oe ... '."""r."01 '""enncerl.nB Ic. the hull ,.1. . ' f"" I'C'clnint orirator dfclatjd that he,, oui,, ho vtrn, m,n n i !'," 't'k"'', "V," C(iul'' ""el ""ere reac tion rh decline In 1st. trntllni; was ntt-lb-uted to protlt-taUInK, but tho fnvnrab" fvn sU,o.a!'a.lh1i,,!ce'S0,, """"" CaM,i wllh "- 4'i U 4"', I3 la ia4 74 74 74 (14 (1 114 3(1 3D 3 74 74 Hi 87 84 84 3U 3U 3'; 10V, (i 104 an 23 so S2 SO SO isf. lsu lRVi 7 7 7 OS 61 s 7; s 83 83 83 4S 44 4i 104 104 1114 il"s n4 04 44 44 4. r.o S3 n:. 33 33 3B 1(1 B5 3 72 70 71 25 23 23 Hi 1. l'i 33 34 .14 IS 18 18 21) 2S 211 87 33 37 1(1 10 1(1 IA Ii'i 4A 13 13 13 44 44 44 r.s 3a ns 37 an 37 44 i 44 20 is is in (i in 75 73 75 B4 4S 54 74 72 74 43 45 45 4 4 4 OS OS 05 OIV 041, 044 IISH (18. 1S' (13 04 , 1U4 102s 102V, 102, 103V. IflftU 1U51. 1004 tons, mo, ion, loi' ion's 014 fM'k 114U nov nov. no 1, ns ns 8 on 1, tiu 4 do 1. 1174 074 l'"4 734 754 734 12 4 2 4 1121, 1)3 , 03 4 1134 101 1004 1O0 32 514 52 no no rin inn inn ion !I84 1IH, (ISt, lill , KI14 101. Iis4 HS4 lis. 081, 1181, 081. I nov ino 100 oaJ ii.i. H3. ini', lnm, ion', nov, w4 un". on 4 un V no 4 ll-nrv i renin Wlithanli hnu him a,... in..., setreturv of trie Nstlonnl ILrthnnAt .. I'l.lli ". I c.ll'l tin 17 'S.-, Mis $71 ill.'l f'Osi -iCiailnn with off,,., Wiishltmtt.u Mr V V i.a.t in. noil 7'ifl j.ll.B'iS . 1" lllb.ink Is a former Phllade'phl 111 beln tne lloston lljn.727 .,7 1811111(1 5. 122 018 ' 'n f (hs lute H 11 Wllthank for iii.nv i-'Jr'he.il-""""1'1' "' '"" I'ntladcliihla Slock Prices Improve on Paris Bourse Paris, -eo' 7 Pi It os showed mhi un- i.fw .,,,,...... ----- pr,i, m lit on tl. Iloilfso Unia llliee y, r The unloading lliowineiit nere kuiiico 1 1 .it i.rtes r.11 in.ucs .111 cenumes inn eime I lie iiiiiiiiiiiuit. ."' , 1 t tin. nnd ''"ndon 4s fisni s 70 centimes '. lereent licndwin after the start nnd, at 1111 ",.ai, M frj,M ,j ,..niinies The do'iar of the first fifteen minutes, the lint won ,,ot,d at n f-u. s 104 centimes ..rr .,l..ii '". tinintx from tile top. , Pievlous 1 00 'ins Ooen P M - -- . .r .: 'l 1(1 Jl .111 J I II.'. .,1 Hi. ' 1H.S8 .'! ml 20.211 21.no 20 2S -1 0(1 20. 15 21 (10 20 5(1 22 an 2(1 LS 22.25 .'1 SO M.H YOIII5 Monev on nf 1 nllater.il opened today for lendlnis and renewln-. all both clusaes at 34 Per cut Jf-Gty i lIIII..IlI.I'III fall. " I' 'ent time i t-r cent tominercla1 paper thre to six ,1 'iitns (I lr 1 ent .' 1 es. ate mereh 1 nniinal ouoia. 1 .n- tt' rfal itii-' of Intetest In the Stat . i'. . w .i.i 1 1 'iik- ilx.'l at 1. p 1 tent P'u p-eiiu-'i hmI - Humi-1! 1 ie rnone- or i' li ill 'On 1 "..I I ut (1 tu ,1. m 1 cotnm r.l.,1 iia(r from thlri to ninety da Is oar.ecl at II la Uh imr cent. I.IIMION -Money In atilttd L3i per cent.. snori duis, par ccui; tore Dlscount rates month! bins II, ,uu. ( VL per cent. C . toll I Iji. enib I 1 u.ir Mutch Mny JuH nid New Orleans, Sept. 7. -'I Im mot lemarkable ehibttlon of strength In the history of cotton trading, according to nxchnnge experts, was given on the New Orleans exchange todny when 11 1 months 111 the future mnrkets .opened $10 a bale over yesterdays close. NEW YORK COFFEE- MARKET Now York, Sep' " till the It and Sanies uffec inirlt"ts lit higher levels, together with 1 Slid advance In the rate of Hio exchange on London, the local market made a fair response, opening otgalntt.of 3 to 7 pploti, J'trp boiiMi bought ond aborts covered, to- 14 HURT IM "ONE-MAN" CAR lrhctute The ( Us and SI l.ouls Itailw. Motorman-Conductor Unable to Con trol Trolley on Grade llaltimore, Sept. 7 Twelve men and two women wen- injured in a crush between two trolley enrs yesterda. Pour of the men were taken to hospitals, but none was believed dangerously hurt. The accident was due to the Inability of the motorniiin -conductor of n south bound "iiiie-iuan" car, which was coming down grade on Fremont avenue, to bring Hie car to u halt in time to prevent crashing into the side of ti noith-boiind double-truck I'dmondsoii f.Aenue car mining from North Fremont avenue into I'dnumdsoii The small cur was badly wrecked and the other also put out of commission. All of the Injured were passengers on tlte "one-man" car. Cincinnati Chicago and aptllte.l In th., F.ia,y.ni. icnmerC' t'i tnmlntinn r,- n,.,t,n..i.. , , .... .. ...oo.ono lefuiiillnir and Improvement fl p8r '.',' ,n.,;r",".,"' ,!','r"1" 1,0I"' "re to bo pled'od with Hirer or (Jem ral of Railroads aars . uri for the rood s lu.lebtcilners lo (he Otiv- SHIP CRAWLS TO PORT Matthew S. Greer Reaches Newport, Minus Mainmast, After Trying Trip lioston, Sepl 7 The two-masted auxiliary schooner Matthew S. (ireer, owned in New Ileilford, Is snfely at anchor oil Second Ileach, Newport, It, I., with her mulniunst gone, a message to Hie naval communication office here last night said. Knrlier reports were Hint nn tiiiidcntinrd veesel niipeured to he in distress about ten miles off the const Last night's communication sniti th schooner hnd lost her mast MO miles ANGLER CITES OLD BOOK Fisheries Society GetG Publication ' Showing Shad Caught With a Fly Alleiitouti, Ii., Sept. 7. The ies. I tnration of slmd into the slrennis of I'eiilisvhniiiii icceied added impetu- ' nl .M'sicrilny's sessions of the Amerlcnn Fisheries Society, in convention here. I The matter rnuie up through the pres- 1 et'iiuion ot 11 hook, "I'lctoriai ,1'enn sylvunin." y 13. Lehman Kuhe. seenl --1 eiirs old, dean of Allen town fishermen The book was pub lished in 1S.VJ h I'll Howcn Tlic author described the catching of Mind with n lly up the reaches of the Rusqiielianiin neur Wi'kes-llarre nnd In the De'uwnie nt Fusion. Mr. Kuhe offered the book ns evidence of the trn dltlnns Hint in the pioneer dn.s shnd wete caught with a fly In the Lehigh at Allentown The convention went pn record us favoring repopulntion of struums nnd the restoration of lisliiug us iu the "good old days." Ward T. Iioweis. of WuHliinglou, D C., who read n paper on the estnb lishment of public aqunriiims in smull cities, was supported in discussion by ICnrl Kruker, superintendent of the Falrmount I'nrk Aquarium, I'hiladel phla. They coiileiulcd thnt atiuarin not only interest children ns well ns ndults, but Instill 11 vuluo nf lish us food in uddition to the recrentlonnl nnd sporting features. Shuff Heads Life Underwriters Clevrlnnd, 0.. Sept. 7. John L, Shun, of Cincinnati, wus elected presl dent of the National Assoclntlun of Idfe riulcrwritei-K at its thirty-sec. ond annual convention jesterday. Miss Florence K Sehnnl, lloston; A. O. Swink, Itlt'lituond, a , nnd Wilson off iierniuiin wniie on a vojage from Wllllnins. of New Orleans, were chosen the Cape Aerde Islands: to her home vice presidents; Graham C, Wells. New SSa'. r..cnV'11 "Inetefc-assengers York, treasurer, and J,-H, Itussell, Ixs and a crovr of twenty. Angeles, secreUry. ' ' "The Facts of the Matter" should bo tho only points considered when deciding tho merits of nny article. You mny purchaso n low-priced article with little thought of tho expenditure, but when called upon to buy something which may have to serve many years and give honest service, then you should consider carefully all the facts obtainablo and make them tho bnsjs for your decision. Tho selection of worth-while investments resolves itself into a careful comparison of tho many facts availablo regarding various securities. The more detailed and exact the facti, the more an invettor i able to select the really bett teeurity. To help you in the selection of those railroad securities that aro best at today's prices we have a forco of engineers engaged in compiling nnd keeping up to date an analysis of Railroads and their obligations. We enn toll you which returns the highest yield com patible with unquestioned safety, antj would bo glad to advise you upon request. BROOKE, STOKES & CO. Member Philadelphia Stock Exchange 140 South Fifteenth Street Philadelphia 734 Fifteenth St. N. W. Washington 102 St. Paul St Baltimore sfiQ 4tT 1pa"8-. S J V to 2r- . STIAV Personal Property Tax Returns Residents of Pennsylvania for themselves or as Trustees will shortly be required to make a return of their property subject to the four mills State Tax. Securities of corporations of other states not registered or doing business in Pennsylvania are subject to this tax, which in the opinion of counsel is computable on the actual or market value and not on the par value. For example, $10,000 par value of bonds costing lOO in 1917 would have been taxable that year at par, the four mills tax amounting to $40, but should these same bonds be now worth 80 the tax would amount to $32. In view of the dis count at which practically all securities now sell the importance' of proper valuation for taxable purposes may readily be seen. We shall be glad to furnish quotations on any securities show ing the value at which they should be returned for taxation. Harrison, Smith & Co. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA 'LOMBARD 6100 Decreased Operating Costs and Increased Revenues are apparent in the recent finan cial statements of many public utility companies. We recommend Oklahoma Gas & Electric Co. First and Refunding Mtge. 7Yio Cold Bonds Due 1941 Price lo Yield 7.90 Write for Circular Bonbright & Company 437 Chestnut Street, Philadelphia Boiton Chicago New York Detroit Utilities and Industrials Examinations for Managers and Bankers Reports covering operating costs, fares and prices, markets, valuation and economies in man power and methods. New York l'stabllshud 1894 Philadelphia San Francisco CHARTERED MARCH 10, 1812 T7ie PENNSYLVANIA COMPANY for Insurances on Lives and Granting Annuities Member Federal Reierve System EVERY TRUST COMPANY SERVICE nilOAD STREET OFHCE Clicituut and Juniper Streets 517 Chestnut Street Philadelphia BOND MEN An unusual oppoi tunny i offered by n New York nnd Philadelphia Bond House to men capable of plac ing municipal nnd other high-grade bond issues in Philadelphia and vicinity. Interview by appointment only. Leonard, Steteon & Co., Inc. Land Title Building Graphic Charts Klio-.v that three stockn are lue tot an Important movement One saouio show n profit of forty points ana two others twenU-lle points Jra"A' and Investors Invited to maKe ir 'Tiimlriatlon P. W. UNGER Investment Analiat Room 202, 130 S. 15th St. '"003 IhlKh Vnll-r Itillrontl Orn. 4's. 114 I (,. U......I.... I'..... ' ''.. imHr n.FT.i.i ..iii. .iiruiiir Q's New Orisons Itnlliv.y & I .font. ft's 10"0 CunnillJii I'uc lie r.iiilin, All Mulurillrs. T.ulor Mlinr'an Irun i. Hlrtl Co, 0's 1DI I'Mliidtlphla Hiiplu Transit Co. b's lii-,7,," aamuel K. fnillioa & Comnanv Msrobsrs WilladslDhliJltoek Eichan. OU7 (.'IfKNTN-jaBTHKKT ilsjiti SALESMAN . til rsiuiiiUhril house hndlin-rilh'r-.d Investment l""u'" lij opnlnT In It sales or-anlxtlon i" experienced security salesman, (1 110. I.EllllKIt 'Omt'M --" 41 -it t-- L J , ; :.f '-W iV' 'V w,i r ' n't.ny V iv, j. Ajj W-iv)i.,,h.,, .... . f"; .jf- V n.-U ' 'J ?!& J -(,