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EVENING PUBLrO LEDGDKn-PHlLADEtPHIA TUESDAY, SEPTEMBER 13, J92I
J T ' . , I.
Safety-Always
A Good Buy
YfiSTBRDAY-today-to-paorrow-safcty
is always
a good buy for the pru
dent investor.
The old proverb, It is
better to be safe than
sorry", is especially true
of investments. Our
booklet "CommonScnsc
in InvestingMoney" tells
howto make sure of pick
ing safe securitics.Call or
write for it today. Ask for
BOOKLET 7 16-Q
S. W STRAUS &. CO.
IHCOXrOBAT-D UTA1LISIIIU 1011
Stock Exchange BIdg., Phlla.
Ttttptm Srauca 5618
39 years without lots
to any investor
warprm Miuiiim g
ALL POOL SUMS
NEW YORK STOCK EXCHANGE TRANSACTIONS ,
MOVED
AGAIN
Market Recovered Quite Gen
erally After a Dull, Hesi
tating Opening
Copyright 1921, by S. W. Btrioi k. Co.
Important
Utility Financing
During the first six months
of 1921 the securities of
29 of the principal public
utility companies were of
fered to the public. Twenty
three of these are selling
above their original offering
price.
No type of security can
show a more convincing
record. We invite requests
for List No. 7337 of specially
selected public utility bonds
and notes yielding from
7J to over .
Bonbright & Company
437 Chestnut Street
Philadelphia
New York
Boston
Chicago
Detroit
Protection
costs little
For a few dollars
a year you can bo
fiadequately pro
tected against loss
of or damage to
salesmen's sam
ples. Get a North
America policy.
Any agent or broker can get
you a North America policy
Insurance Company
of North America
Philadelphia
Capital $5,000,000 Founded 1792
Fire, Marino, Automobile,
Tourist, etc
New York, Sept. 13. It wa sa clear
cut case of the unexpected once more
1 ntotlay's stock market. Nino out of
ten enme down to the street fully pre
pnrcd and expecting to see a farther
reaction all along tho line. Instead
after a hesitant opening renewed
strength and activity developed In n
number of the speculative specialties
and before midday a fairly robust for
ward movement had set In.
Ileforc the upturn was resumed there
was considerable Jockeying of position
on the part of the professional In order
to find which were the more susceptible
to mnnlrmlntlve Influences. These ttic-
j tics were employed without the nsslst-
I nnce of any particular stimulating news
1 developments, although tnot of the
overnight news could easily have been
construed as bullish ammuiutlnn.
The more Important event was sup
plied In the announcement of the sale
at par of $7,r00.000 of $380,000,000
par value of railroad equipments trust
certificates held by the Ilallroad Ad
ministration. It Is understood plan
have beep perfected for the marketing
of similar blocks until Ihe full amount
is tlispoecd of. The understanding that
the proceeds of the ale were to lie
turned over to the Railroad Adminis
tration for the benefit of the carriers
was accepted ns convincing testimony
of the earnestness on the part of the
Ciovcrnment to give the railroads the
much needed relief without Vailing
for legislative action on the part of
Congress.
It w.is quite in keeping on the part
of the managers of the uplift program
to select the railroads as the fulcrum of
the market leader. Apait from Itead
iws. however, the group made 0 mnl
(Iiknnxi utiii. response and In the p.'sr-
lance of the street 'bulled" hard. This
I necessitated a quick change In the plans
I to galvanize new life into the trading
' and keep the speculative spirit alive.
1 After a few .skirmishes the so-called
pool issues, notably Mexican Petroleum
, and ItiUduin Locomotive, were found
! still sensitive to manipulative influ
ences. It was further found yester
day's reaction had likewise encouraged
putting out of fresh short lines. These
-elected Issues were carried up with
the same dash as marked their upturn
in Friday and Saturday, and In turn
injected new stimulus into the respec
tive oil nnd equipment groups. The
market, however, recovered quite gen
erally and with the advancing prices
there was a corresponding broadening
1 of the dealings.
I The complex state of the foreign
I exchange market received only ncademic
attention and nt no time could be
1 considered either a direct or indirec
market factor. While call money re
newed and loaned nt !V per cent,
I there was every evidence present of a
-1 .. n-i i. . ,r
iiiucii I'unicr luuuiiiuu. mi- hiuwi ui
I which was found in the fnct that for
the first time In two years the np
1 proach of the income-tax payment daj
, was not marked by the usual Hurry.
LOCAL ISSUES QUIET;
PRICE CHANGES FEW
Electric Storage, Which Drops
2 1-4 Points, One Exception
to Steady Market
j$September
"investments
Bond buyers, who pur
chase primarily for invest
ment, will find that Cana
dian Government and
Municipal bonds possess
particularly sound invest
ment features, coupled, at
this time, with attractive
interest returns.
Added to the paramount
factor of safety of princi
pal, these bonds enjoy a
broad international market
while American invest
ors may now purchase
them at prices which yield
7
to 8
in
GJlisi I Toronto
till II London,
m
hm 1filuJSSllShlltJlnr
Principal and Interest payable
united suites Funds
Write for Circular P-0J3
Wood, Gundy & Co.
Vrorimrfttrrl
14 Wall Street, New York
Montreal
Winn. peg
Ens
Stocks were about steady in n quiet
opening session on the local exchange.
Very little was dnue during the first
half hour, the price changes for the
most part being nominal. The one ex
ception to the early steadiness was In
the case of Electric Storace Buttery.
which, on sales aggregating some half
hundred shares, dropped to lOH1,, 0
decline of 2,i points.
The railroad group, ns represented by
Pennsylvania, was weak, a small lot of
that issue changing hands at .'IS1,
and representing a decline of an eighth
L'tillties fared better Philadelphia
Klcctrie preferred made an eighth gain
in the first few minutes of trading, be
ing marked up to 20'4, and Philadel
phia Company cumulative preferred
moved to 32 on some odd lot offers, the
advance being of a point.
Activities in the bond section of the
exchange were confined largely to the
Liberty issues. Price changes were of
little Importance.
American Stores later in the morning
became the stellar attraction, establish
ing a new "top" price at 02. This
represented an over-night gain of over
a point, and made a net advance of
approximately 1!) points from the low
price of the year.
Sales
100
100
100
1700
100
100
100
100
100
000
100
too
aw
100
too
200
1100
500
100
1000
200
100
MOO
200
10)
300
200
100
too
100
1100
SI00
aoo
100
too
too
200
100
soo
too
300
3100
300
stoo
400
10700
too
too
3200
too
too
too
fiOO
too
300
noo
.100
400
400
100
.100
400
201
200
1100
700
300
. 100
200
100
2200
400
400
1300
3300
300
100
1800
1000
3700
100
300
200
100
100
3300
700
4800
A700
400
200
100
100
1000
100
2.0
200
100
200
400
300
100
000
100
.00
.00
100
700
100
200
GOO
1000
2100
200
2UU
DIt.
In I
. Advance Itumely
8 Advanoo Rumely pf ,
4 Air Reduction 33
. . AJux Rubber 2014
.. Alaska Gold Mines... H.
4 Allied Chem ft Dye... 3;i
7 Allied Chem A Dyo pr 87
4 Allls-Chalmors $311
.. Am Agrle Chem 3$
.. Am Agrlo Chem pf. .. V
.. Am Beet Sugar 2 J
.. Am Con 2T
12 Am Car A FMy 136!4
.. Am Chlclo 10
.. Am Cotton Oil.. 20)4
.. Am Hide A Leather.. HM
Am Hide A Leather pf S3J4
1:80 Wet
HUh Low P. '. CTige.
.13 13 IS - 14
iir as mi ess - -
33 W 33
s Am Ice
8 Am Ice pf
. . Am Intcrnnt Corp.
. . Am Linseed
7 Am Linseed pf....
0 Am Locomotive . . .
. . Am Safety Razor.
. . Am Ship A Com. ..
Am Smelt Sco.
03
3114
20
41W
91 J.
4M
014
36
7 Am Smelters Pf 70J4
7 Am Smelt Sco A OS
8 Am Steel Foundries.. 24
7 Am Steel Pdys pf . . . .
.. Am Sugar Ref 02H
7 Am Sumatra 42?
8 Am Tel & Tel 107K
12 Am Tobacco 124?4
12 Am Tobacco B .... 123U
0 Am Waterwlcs 6 pf. 814
7 Am Woolen 7014
.. Am Zlno Lend A Smlt 8Ke
. . Anaconda Copper . . . 38H
. . Ann Arbor pf 34 H
0 Atch Top ft Santa Fo. 85!4
Atch Top A S F pf .. 80H
.. Atlantic Fruit
.. Atl Gulf ftWISS., 38
. . Atl Gulf A W I S S pf 22fi
7 Baldwin Locomotive . 8SH
.. Baltimore ft Ohio 39
4 Baltimore A Ohio pf . . St 14
s Bethlehem Steel B... &M
8 Bethlehem Steel 8 pflOO
.. Booth Fisheries 3
Brklyn Rapid Transit 10
t Cal Zlno A Lead 4
. California Potrolcum . 3S14
10 Cnnadlan Pacific ....11214
.. Centrnl Leather 2014
. . Ccrro-de-Pasco 27
0 Chandler Motors 4714
.. Chesapeake A Ohio... &bli
.. Chicago ft Gt West... 714
.. ChlAGtWestpf K.'-4
.. Chi Mil A St P 20o
.. Chi Mil ft St P pf.... 3914
5 Chi & Northwestern.. 0014
. . Oil R I A Pao 33 H
.. Chile Copper 11
.. Chlno Copper 24J4
. . Coca-Cola 35
. . Colorado Fuel A Iron . 23
0 Colum Goa A nice 3014
Colum Graphophono . !H
. Col Graphophone pf . . 1854
T Consolidated Gns hS
. Consolidated DIs Ins.. 3fi
. . Consolidated Textiles 1HJ.I
. . Continental Can 43'2
. . Continental Candy ... ft
.1 Corn Products Ref .. 74 M
!.60 Cosden A Co 20 Jj
4 Crucible Steel W'i
7 Crucible Steel pf S3 14
Cuban Am Sugar 12 M
Cuban Cano Sugar... 8H
10 Del Lack & Western. . 10114
1 Dome Mines 17
5 Kndlcott-Johnson .... 06)4
.. Erie 13H
3 Famous Players li. ... C7 H
. General Asphalt 5214
8 General Electric 17r)4
1 General Motors 10)4
7 Goodrich B F pf 7014
. Granby Consul MAM. 18
7 Great Northern pf.... 7514
.. Greene CananeaCop.. 21&
1 Guantanamo Sugar . . 7?i
.. Gulf State Steel 3SH
. . Hcndce Mrf Co 17
. . Houston Oil SO
1 Hupp Motorcar 1114
60 Indlahoma Ref 214
.. Inspiration Con Cop.. 34
.. Interb Con Corp 2Ji
.. International Cement. -Hi
7 Int Harvester new. .. . 7814
6 Int Mer Marine pf. ... 45
. . Internal Motortruck . 33
. . International Paper . . 4814
6 Inter Paper pf stpd. . . 6SJ4
.. Invincible Oil Corp... 0
.. Island Oil 3H
. . Kansas City Southern. 20
4 Kelly-Sprlngfleld Tire. 43
.. Kclsey Wheel 55 H
.. Kennecott Copper ... 'ZOy,
IS
14
39 K
87
33)4
3J
a
39
1714
1.10)4
10
20 W
H14
83
80
63
29H
20
41)4
0014
44
614
30 H
7014
68
2X
81
60 M
40)4
107
124 H
123)4
814
70)4
8)4
38 K
31H
08)4
80
4
20
3214
85 Ji
39
5114
S)4
99)4
3H
10
4
37
M3'4
28)4
27
47
55)4
7)4
1614
2614
39)4
C0l
33 H
10J,
35
25
50)4
3).
1914
S8
3)4
18!t
40
73)4
25)4
01
82)4
1354
s
10114
17
ci?i
13)4
56 U
50 J.
125
10
70)4
18
7514
2154
7?4
38
17
50
11
2K
34
2H
234
7714
45
33
4854
68)4
0
314
20
4154
5514
20
H
- in
114
14
14
14
14
y
14
14
14
14
54
54
54
V
314
IK
V
14
54
19
14
39 J4
87
SSJ4
35H
O 39 -3714-180
y
10 2014
11H-
8354 154
57 114
68 1)4
31)4 114
30 - ft
41)4- 14
91Z4
54-
614-
8054-
7014-
68 -
354-
84
6394
1354-
10754
13454-
12314-
nn4
J6H
814
-
-H
28 1
2254 14
f854 254
39 14
5114
5514 1)4
100 1
354 ..
10
4 -
3814
11214
-47
5554
714
1614
20ft
3354
It
214
35
25
5014-
514-
19)4-
88
314-
18JJ
3!4
54 745i
20)4
C3
"i
101 14
17
6554
52
125)4
014 76 !
18 -7314
3134-
754
38 -17
60 -11
254
31 334
244
33 -40
C8!4-
9
254
2614
43
Dlv.
Hl, in f
lt
800
100
500 ;
100
100
100
100
200
300
200
100
31100
100
1000
8w0
300
600
100
1300
3300
2300
1300
100
100
100
too
100
HlKti
Keystone T A R 18
.. Lackawanna steel .,. 41
3 Leo Rubber Tire 35 J4
60 Lehigh Valley 88)4
. Lima Locomotive .... (8
.. Loewe Co ,.., 1854
1 Loft Candy 10)4
. . Loose-WUea Biscuit . , 33
.. Malllnson A Co 18 54
.. Manatl Sugar 3754
. . Market St Rwy pr pf . 39)4
, . Max Motor 1st pf ofs 4
It Mexican Petroleum . .11751
3 Miami Copper 314
60 Middle States Corp... 13
. . Mldvalo Steel ....... 25
.. Minn A St Louis 10
7 Minn St P A S St Me. 70)4
.. Mo. Kansas A Texas.. 3
.. Missouri Pacific 30)4
, . Mo Pao pf 13954
.. Montgomery Ward ... 1934
7 National Biscuit 121
. . Nat Cloak A Suit 18
fl Nat Enam A Stamp.. 3434
. . Nov Con Copper 11
n Y Air Brake 88
New York Centra!,,
200 2.50 New York Dock
14
1
li
15
114
'
li
14
'A
A
i;
K
14
14
1
14
U
14
34
1
14
li
2 54
14
900
300
3000
1300
1400
200
200
100
100
100
5000
4500
100
100
200
500
100
200
300
1400
200
200
800
100
100
100
100
13800
201)
1300
.100
2G00 A
300
200
200
SOO
3S00
100
.-.too
3.100
4100
200
200
100
100
21400
200
300
5300
700
800
100
13.100
100
3100
400
100
2il0
3200
500
1 6300
100
100
100
4300
8500
300
4200
100
3000
100
100
700
400
400
200
200
100
100
100
100
100
300
200
100
100
30
15
1954
38)4
3354
New York N II ft II.
iNcw York ont A W..
North American ctfs
North Amer nt ctfa..
Northern Pacific 7014
Nunally Co 1054
Okla Prod A Ref..... 3
Orphoum Circuit 20
Owens Bottling 20)4
Pacific Oil 85)4
Pan-Amcr Petrol
6314
Pan-Amer B 4954
Pennsylvania R R.... 3854
Pcnn Seaboard Steel. 8J4
. . I'copics aas Chicago. 55
, . Pero Marquette 1931
(i Pcre Marq prior pf . . . 5531
8 Philadelphia Co 2S
. . Plcrce-Arrow Motor.. 1254
, . Plcreo-Arrow Mot pf. 2714
0 Pitts ft West Va pf. . . 7414
. Pressed Steel Car 5914
8 Pullman 93
. . Punta Alegre Sugar. . 2754
2 Pure Oil 24J4
2 Railway Steel Spring. 84
. . Ray con Copper 12JS
4 Reading 7154
2 Reatllnr 1st pf 41
. . Republic Iron A Steel. 5014
. . Republic Motors 0J4
JO Royal Dutch Amer. . . 4014
. St Louis San Fran... 23J
. . St L ft S W R R 23
. . St Louis Southwest pf 31
. . Sears-Roebuck 0854
. . Seneca Cop Corp 10(4
. . Shattuck Arizona Corp 614
.. Sinclair Oil 20
0 Southern Pacific 78
.. Southern Rail 3154
.. Southern Rail pf 48
4 Standard Oil of Calif. 73
7 Stand Oil of N J pf . . . 100ft
. . Strombcrg Carb 33
7 Studcbakor 7854
.. Superior Oil Corp.... 414
3 Superior Steel 31(4
8 Texas Co 3854
.. Texas A Pacific 2414
1 Texas ft Pac C A O... 19?4
10 Tldowater Oil 120
fl Tobacco Products 7114
7 Tobacco Products pf . . 8354
.. Transcon Oil ..1 854
.. Union Oil 1734
10 Union Pacific 120
4 Union Pacific pf 6414
United Drug 40
. . United Rwy Invest pf . 1814
0 United Retail Stores.. 5554
..US Food Products... 17)4
4 U S Ind Alcohol 40
..US Realty A Imp. . . . 48J4
.. US Rubber 4014
BUS Steel 77JS
H'S Steel pf 10014
2 Utah Copper 5054
.. Utah Sco 014
.. Vanadium Corp 3334
.. Va-Car Chemical .... 29
.. Va-Car Chemical pf.. 74
.. Vlvaudou Inc 854
.. Wabash 7J4
.. Wabash pf A 31
. . Western Maryland ... 10
. . West Maryland 2d pf . 17
.. Western Pacific 2234
4 Westlnghouse E ft M. 44
.. Wheeling ft LE 834
.. Wheeling A L E pf. .. 154
4 White Motor 3314
.. Willys-Overland 6ft
. . Willys-Overland pf . . 2954
6 Worthlngton Pump ..40)4
7 Woith Pump pf A.... 73)4
Low
1ft
40
3 r.
Si 54
68
1334
1014
33
IS
3714
29
4
11354
2134
13
25
10
70
3
1934
39
10)4
11854
IS
3454
II
68
7214
29
1434
1914
.17
33)4
70)4
10)4
a
20
29)4
35)4
6134
48)4
3854
8J4
55
1914
5554
28
1354
20
74
50
9314
2754
2414
84
12J4
7014
40Ji
4094
9)4
4814
23 li
23
34
6794
18 94
014
1914
77
21
48
72
106JJ
33
7554
414
3114
35 H
2394
1854
120
6014
8534
8
1734
120
04)4
46
18
64
1714
46
48)4
4814
7754
10914
4954
914
3214
29
74
814
754
234
10
17
3334
44
834
1354
3314
0
2014
40)4
7214
1:S0 Net
p. M. Chire.
18 14
41
as 14
83)4
08
1854-1014-
ftS
16 354
3734
39)4
4-14
11654 354
3154 I
13
14
14
1
3
14
14
1)4
PEERLESS MOTORS
HIGH SPOI
ON CURB
Stock Continues Upward Move
ment Remainder of
List Narrow
35 - 14
10
70 14
3-14
20 54
3934 1
1994
121 2)4
18 - 1
3134- 14
11 - 14
88 214
73)4 14
30 - 1J4
15
19)4
38 i 14
S3 14- 14
7014
1094 54
3
20 - 14
2914- 54
35J4 14
53 114
49 1)4
3854
m- h
55
1634 54
5534- 'A
38-34
124
26 - 1)4
74 114
59- 1
9314- H
3754- 34
24)4- 14
84-14
13J4 ..
7134 V
40J4 54
60 14
014 14
4014- 14
23J4 ..
25
31 - Ji I
0814 14
10 54
14- Ji
20
7754 54
21 54
48 14
72 14
10074- 14
33-14
7754 114
414 14
3114 14
3014 ..
2414
1934 14
120 1
7054 114
8334 - 14
8)4 Vt
1734 .
120 - 14
0414- 14
4814 14
1814 14
5514 ..
1714- 54
40-14
4814 54
4014 54
7734 14
10914 ..
40 14
914 ..
3354 94
29 - Yo
4 Vs
814- 14
54- 14
2034- )4
10 34
17-34
2394- 14
44 - H
854 ..
1854- 54
3314- 14
0
2934 1J4
40(4 ..
7214 114
Now York. Sept, 13. The market on
the Hroad street curb settled back again
Into a stage of narrow movements, deal
ings were on n small scale and fluctua
tions, except in n few issues, being
confined to small fractions.
I'ecrlesi Motor, however, was an ex
ception, making n further ndvnnce of 3
points to -3, continuing nn upward
movement that has been In progress for
about n week. Glen Alden Conl wns
another nctlve feature, first selling off
, to SOU, nnd then moving up to 37.
Columbia Emcrnld was not materi
ally affected by the announcement of the
change in tho management nnd sold nt
1 1-1(1 nnd 1. Tobacco Products ox
porta was fairly well held with trading
nt 0V4 to 5. Philip Morris was also
prominent, being in steady demand fol
lowing tho declaration of the dividend
n few days ngo, nnd advanced to 5'.
British-American Tobacco was traded
in nt 12. Uolbrook was firmly held at
15.
There was trading In William Davlcs
stock at 24. Goodwyn Pictures was
strong. Thore was n small nmount of
business transacted In Intercontinental
Kubbcr nt 7 and 7A. United He
tall Candy sold at 5. Denver pre
ferred ensed off to GO centa a share.
Business In the petroleum stocks was
light nnd without special fenturc. Mam
caibo sagged off on n small supply to
1894. Standard Oil of Indiann ranged
from 70Mi to 70. Elk Basin sold
at and Slmms nt 0.
There wns good trading In the min
ing stocks. Magma CoPDcr featured In
this group with an advance of nearly
points, to i:i.
INDUSTRIALS
Acme Coal
Itrlt Atnrr Tob rc .. .
lirlt Amor Tali coup..,
Oil Crushed Krult ...
Columbia i:mrald .,,
D It a rrcf
Umpire Food
Ulan Alden Coal
OoMwyn Picture ...
Uolbrook
lleyden Chrm ,
inter llubber
locomobile
I'eorlean Motor
Perfection Tire
Philip Morris
)tadlo Com
Southern C & I
Tob Prod Exp
t; fl I. ft II
USUI! pref
United Profit Sharlwj
United Itet Candy ...
Wm Davits
ALL UNDER ONE COVER .
Moody's Rating Book;
On Industrial Securities for 1921
"The Red Book
t
i
THIS timely publication not only RATES every indus
trial Bond and Stock issue, but contains full descrin.
s and statistics of every Industrial Company,, thus
tions and statistics or every inauscriat company,, thus
servinR as a COMPLETE'MANUAL" as well as Ratine
Bpolc
In these days of industrial unsettlement, complete and
authentic information regarding industrialjcorporations is
more urgently needed than ever. This hew edition, not
only contains statements of hundreds of new companies
but ratings of old companies have in many cases been
radically revised, in order that the user may be kept
directly in touch with 'current conditions.
This 1921 Edition Is now the only anriual statistical
work on industrial securities which is issued in one
convenient volume. It is the only complete work
on industrial investments which can be .purchased
for so low a price as $20.
We urge you to file your order without delay, as the edition,
which is limited, will soon be exhausted.'
Moodts Investors Service
JOHN MOODY. IWJmi
35 Nau Street, New York City
PHILADELPHIA CHICACO
F- NttMMl n.k RU
BOSTON
lUKUkSMt
RwlbuMTn-tBM
auii
8I
VA lS
2W 24
fl 0
''I 'S
STAMAniI 01X3
South Tenn Oil 170
Stand Oil of Ind 70!4
170
7014
170
70H
INDEPENDENT OILS
Allen Oil
Arknnmm Nat Das
Iloalnn Wyoming ..
Carlb Synd
Cunhlnv I'et
Elk UaBln Pat ....
Federal OH
Olenrock Oil
Int Petrol
Kantian Quit
Lyons Pet
Marncalbo Oil ....
Morrltt Oil
Merldan Pet
Noble
fimar Oil
Producer ft Refiners
Rlmma Pet
Texon
Western
so an
W su
70 70
Mi 4U
12 , 12
oft Bi
1H 1H
f5 85
lo '4 inft
B?4 r
fl:. no
isi 1SK
10 10
18 18
o.i on
FOREIGN EXCHANGE
New York, Sept. 13. The foreign
exchnnge market showed general im
provement In the early dealings today.
Tho market, however, is still rather
unsettled and uotntions were slow In
coming from London.
Commodity Market
sjfnrlinir rnhlps were 3 73 A. demand I I-nitern nnd scattered commits on
S fl "ram eM.& cWks ?.: ', ho,,;.,. Kr-cclnt- injected yesterday
,ir'e -.. 4.7t check; 4.20; Swiss " 22, car, ; .Inst t r 04 ears b
.villi's 17. 3S. elieckH
cable 31.00, checks
cables r.H0, checks 1
Philadelphia Stocks i
LIS Net
High Ixjw P . cage
400 Am Strs. 0 02 624lV.
8T) Eke Stor.lOSVt 102A 103 2V.
100 Lake Sup 7 7V 7
?m Leh Val.. G2H 52 52( K
2o4 Pa It R 3S 3S4 38 M,
10 Phtlu Ins
Wire... ."0 50 50 ..
5 Phila Co
pref.... 20s 204 204-f V,
20 do cm pf 32 32 32 4-
3 PhllnElec 22 22 22 . .
."2 do pref.. 20i 20'4 -OVi-r -h
50 Phlla It T 17 17 17 -r K
JOt Heading 71 7HH 71, 'I
5 Un Trae. 30'. 30 A 30LJ. if,
WE OWN AND
OFFER
an 8 bond maturing in ten
year at a price to yield over
8.60.
All bond will be redeemed by
lot at 11100.
Annual net earnlnci equal
total debt.
WlOtXtft BLbO.PHIUDCUrllA
AAM-WMMniAixutf'
MKrJ3WroW
MCW TOOK IUZAHTH.NJ.
Net clmnsre made by comparlnon with last
huic on S'ew York Utock Rxchanie.
riiiuii:i.piiiA iio.NDs
0000 Liberty 3sh '47 87 38
1000 Liberty 2d W-ia '42 M.00
5000 Liberty 2d 4'4x '42 8S 02
500 Liberty 2d 44s M2 88 20
3200 Liberty 3d 4V,h '28 02.0(1
250 Liberty 4th 4V(s '38 8H.00
5000 Victory 4:Us "23 00 02
1000 Electric & People's 4s . 55
1000 KeRtone Telephone 1st 5s. 00Vj
1000 Lehigh Val gen 4s '28. . . . 0S.
1000 Pennsylvania 0V.8 10H4
3000 Phlla Electrlo 1st 5..Iots 80(4
1000 Reading general 4s 7714
MONEY-LENDING RATES
. NEW YOllK Money on call both claaeea
' nt isil!utra! mnM4 tnriaw at K .
tor ltndlnc and rertwlnr.
riIII.AnKI.riMA fall. 0 per cent; tlma,
(I per cent commercial paper three to lx
mnntna, n per ceni.
NotThee are merely nominal quota
tion", the lea-al rate of Intereat In the Htate
ot penneylvanta belnr Iliad at n per cent
l'lua premium and commlealon. time money
for thirty to ninety daya li loaned at A to
nv, per cent while commercial pnpr, from
thirty to ninety dare, la loaned at 0 to 6 '4
per cent.
Reserve Banks' Discount Rates
Official rediscount rates at the twelve Fed
eral Reserve Hanks are aa follows:
Treaa. Mb Com'l Dkra
cus. uonaa, 1 -per, Acoept
17.30; guilder
31.05: peseta
.1)4; Stockholm
21.00. checks 21.55; Uoris-
tmnin cables 13.10, checks 13.0.i;
Copenhagen cablos 17.88, checks 17.83 ;
Uelgian cables 7.14, checks 7.13; marks
- 1. .
Central European exchanges were Ir
regular today. Auntrian, .10; Serbian.
1.00; Greek, C.63; Bulgarian, .80;
.Tugo-Slavia, .47ai; Ciccho-SIovakian.
1.20; Polish, .03; Rumanian, .80,
Hungarian, .31.
The exchange market wns steady in
Montreal today at 11 0-10 per cent,
New York premium. Canadian ex
ilmnge in New York was quoted at
10 23-04 per cent.
YESTEHDAT'B FINAL QUOTATIONS
St-rllnK Franca Lire Oullders
8Sd :ilSt ?-! t:2P K:?S
TODAY'- OPENINO QUOTATIONS
Sterling; Franca Lire Oullders
n.manil S 72H IB :" ?"
Cables . . 73H 7 23 4.27
GRAIN MARKET
Chicago. Sept. 13. Wheat ntnrted
Jtc higher for September ; unchanged for
December nnd V4c to Vic lower for May.
Trade was moderate, with buying by
Enstern nnd scattered commission
(mil mmkM tinu piiHi tor nnm nun
mixed grades nnd steady to strong for
spring and red winter. Country offer
ing!) to arrive light. Deliveries on Sep- ,
tember contracts this morning 0000 1
hushels. I
Weather reports show continued un-' Divide Extension"
settled conditions over the Canadian lirv .Con
Northwest where bad weather is Inter- Enat LVfvl
fering with movement. Export business ' ltormiu ;.".',
closed on yesterday's inte break varl-! ""'roufk Divide .
ously estimated at 400.000 to 1,000,000 & Dlud9..::;:;
DusneiB 01 wnien uu,uuu uusneiu 01 gun. nevert Divide
wheat confirmed.
Corn started unchanged to V&c lower.
Trade was light ond featureless.
Onts started unchanged nt Jc lower.
There was selling nt the start that
looked like continued liquidation, but
offerings met with good commlssion
lioune buying on the break.
LOCAL MINING STOCKS
TONOPAII STOCKS
Canh Boy .01
Jim Itui,er .07
Mac.N'umara 17
Miit-.NVimara Creacont 00
Jfidway 13
Mlzpah Extension 00
Montana nr.
North Stnr '. 'o;t
Hescue Kula 20
Timopah Extension l.3.
West End 5s
est Tonopah, 02
DIVIDE STOCKS
Allied Divide ....
A'to Divide ....
neither
lielrher Extension
lUn Hur
Ilrough Divide
Ask
.OS
.09
.111
.11
.in
.OS
.07
.Oft
22
1..W.
."3
.ot
02
02
31 UO
BANK CLEARINGS
nank clearlnBB today compared with oor
r.mndli.. day U.t twojgr- ,,
Phila 11 000 nop 178.622 815 n03,Hjr, Us3
Protest Railroad Valuation
WtiHlilnrlon. Sept. 13. The tentative val
uation if the IC.fn.aa City Southern Ran
way Company fixed by the Interstate Coni
Ec. mml. at MB.4SS.007 wa. held
& v;0 r'.Vhisir'TnSi pr., 52ss
'.''!S:l-MP.rWnt T t'e.,0' si1,,
that irlvlrur particular ronalderatlon, 10 earn-
in. capacity "present and prospective,
read wS worth from 175,000,000 to
000.000
the
J&u,-
laln wln
n at 10(1
ton, or from 12.7C
Ttoaton ....
New York
Philadelphia ....
Cleveland
Richmond
Atlanta
.Chisago ,,.......
,Ht. Ltuls,..,.,., ,
Minneapolis , ....
Kansas City
Dallas ... ..,,,.
Sap Francisco ...
titt ok dm
SH BV4 B
AH AK AH
BH AH OH
n tt h
0 0 6
a 0 n
a 6 fl 1
S" 8 SHi
fl 6t, ,
8K Stt 3H
Advance Price of Plain Wire
M.i.u-11. Sem 13. Pittsburgh Steel
Company hue ndancjd prici. 01 pu
12 s ton. or fn.m 12 50 to ii no
iounrts. and nails $3 a ton. or fro
to 2 00 a keg
BAR SILVER
Bar silver was H d hlher In Ixindon today
at SllSd
LUTHER LEAGUE CONVENES
New Jersey Branch Opens Annual
Convention In Camden
The twentv-dxth tnnunl convention
of the I.uth'er Ieague of New Jersey
opened at 11 o'clock tills morning In
Ffplphnny Lutheran Church, Seventh
and Market streets, Camden, with de
totlonul servicos led by tho Rev, Paul
('. Weber, pastor of tho church,
William H, Adams, president of the
Southern District Luther League, de
iK..ro,i th ndrlriHis of welcome, and the
nnnuol address of tho preAdent of tho
league wns delivered ny tno iwrv. tv. r.
btclnhncuscr.
"Clirlrt the Need of Japan," was the
Mibject of nn address nt thls after
noon's meeting by Ifnjlme Inauoml, a
COTTON MARKET
New York. Sept. 18. Cotton showed
continued irregularity nnd nervousness
nt the start today, first prices being h
points higher to 10 points lower, distant
portions displaying relative weakness.
New Orleans und other Southern inter
ests were sellers, ns wero also many of
the commission houses, but there were
fnir-slzed buying orders on a decline of
about !. cent which followed the open
ing, und prices turned n shade steadier
by the end of the first fifteen minutes.
Better weather conditions in tho
South, unsettled foreign exchange quo
tations, particularly on tho Continent,
and a belief that cotton was still weak
technically seemed to be making nn iin
previlon on sentiment. The trade was
a modernte buyer on the decline. .Tup
uneso Interests wero also among the
purchasers.
Tho receipts at tho ports for the
day ore estimated at 30,000 hales,
against 23,380 bales a week ago, 17,483
bales a year ago ond 7810 two years
ago.
October
December
January
Maroh . .
May ....
July ....
NEW YORK COFFEE MARKET
New York, Sept. 13. The coffee
futures market opened nt a decline of
8 to 0 points this morning with trnding
quiet and the market entirely without
fresh feature of any klud. There was
nothing much In the early official cables
to chiuigo local sentiment cither way.
As soon ns local trade interests
stopped tho buying In of hedges the
market worked lower on a few scatteren
selling orders, December selling off to
7.47, March to 7.00 nnd May to 7.R5,
or 18 to 10 polnt net lower. Wcnk
longs realized and there was believed
to havo been u few Kuropean selling
orders around the ring, Tho market
at midday wns extremely narrow.
Test. 12'30
close Open P M
10 57 10 (15 10.41
lO.flO 10.75 10 (12
10.25 10.83 10.42
10.10 1U.10 . .. .
10.00 JS.05
1S.05 18 B0
Japanese Btudent at tho Mt. Airy Lutn- pacenrber , L2:2i!i I-5IS8
eraJT Theological Seminary of l'Mladel- ................. 7 sJ(U gjigg..
.on
.2S
03
.03
,ot
.13
.02
.01
.11
.0.1
.111
.0.'
.Ill
.oih
.(18
.02
.01
.02
.08
llcno Dlldn
Hootta
Silver Klnij ,
Sutherland
Tonopah Divide
Tonopah Hashrouck
Victory DlWdo
Verde Dlvldn
.uno
OOLDFIBLD STOCKS
Booth 03
Combination Fraction OOH
t'rackerjiick 03
Dlamondfleld B B 01
Florence 42
(loldtleld Cons 05
Goldfleld Development 03
(Joldnelil peep 01H
(Heat lleml 02
Jumbo Exfnslon 0:1
Kianan 02
Lone Star 03
Oro
It. d Hills 2.50
Miner Pick 10
Spearhead 02
MISCELLANEOUS
J. Hi
Amparo
Arizona United
Caledonia
Eden .
Emma Sller . . .
Eureka Croesus
Eureka Holly ,,
IlicU
Mother Lode . .
Ntvada Hill
N- vadti Wonder .
hticcnaa
T'conu. Mmlnc
White Caps
Wilbert .
.00
.OR
.10
.02
.30
.01
4.(10
5.25
.01
.17
.112
.07
.03
.01
.01
.03
.03
.O'l
.01
.08
.80
.04
.05
.02
.15
.03
.02
.12
.04
.02
.03
.02
02 H
.71
.03
.02
.03
.0!)
.04
01
.04
.02
.44
.08
.04
.02H
0.1
.05
.03
04
oov;
3 50
.11
.03
1 311
.12
1(1
.20
.03
at
nm
4 23
0 75
.02
.22
.08
.(III
(in
.03
States 82
SIEVING
Alaska Br Columbia .... CD
Illtr Ledie 2R
Boston & Montana 73
Canada Copper All
Candelarta Mlntnc 80
Careon Hlver li
Cons Cop Mines 1H
Corter Sliver R0
DUItle Ext 28
El Salvador II)
Eureka Croeaua 80
Goldfleld Florence 43
uoia xono 11
Hamuli Divide 14
Knox DlWde 3
Magma Copper 21
Moihor Iodn new (IH
National Tin 67
Nevada Ophlr 40
Nevada Slher Horn 10
Nlplsslng 4H
Hay Hercles 20
So Am Pa 5
Tonopah Divide 00
United Eastern 2 A
West End Con 80
BONDS
Allied Packer 6s 40
Allied Packer (is ctfa 88H
Amar Tel 0s 1024 08
Anaconda 7s 1020 05
iiraz I-Rht (is un
tieaer jjoard oa
Beth Steel 7s 1028
Beth Steel 7a 1035
Can Nat My 7s ........
Chi Un Sta OH a .1
Copper Export 8s 1924..
risk llubber 8s
Oalena 7a
rirand Trunk OH a ....
Oulf Oil 7a
Heinz 7s
Humble Oil 7a
Inlorboro 7a
Intorboro 8a
Llbby McNeill 7a
LlKgett Ml ore 0s
Nat Cloak 8s
Nat Leather 8s
N T N II I! tl
rt J Iteynolds 0a ......
Sears noebuck 7a 1021.
Un Hy Havana 7Ha ...
Berlin 4a
Southern Ry Cs ,
Southwest Bell 7s
Stand Oil N Y 7a 1028.,
Stand Oil N Y 7s 1031,
Stand Oil N Y OHi...,
Surr Oil 7a ,
Swift 7a 1023
Swift 7h 1031 ,
Un Druv Ha ....,'.
no
48
Many Bankers Demand Life and
Fire Insurance as Loan Protection
THAT is a natural precaution and
quite just. And you will find that
some bankers more as each day
passes arc also including Credit
Insurance as a required loan protec
tion, a precaution just as natural and
wise as the requirements of the other
protection.
You can see for yourself that your banker
would look more kindly upon extending you
a line of credit, when he learns that you nave
n "London" Credit Insurance policy. Then
he knows that your business Is absolutely
protected against any excess loss from failure
of any of your debtors.
There's no time like now at a "London"
Credit Insurance policy. Asking for partic
ulars doesn't obligate you.
ovnsuMsfr
SERVICE
dh
MKMTYmm
AT TOUR,
SERVICE
Losses rid In
AmericanQirrency
Established
Ei (fctcen Sixty-nine
IjONDON GIJARANTEE AND
ACCIDENT COMPANY LTD..
R. A. IRVING. General Agent Credit Insurance Department
Stokes, Packard, Hau.htpn & Smith, Managers All other casualty lines.
Bell Phone-Lombard 4190
"Till III""' f -...".
4M Walnut St.
r.
Vacuum 7s 102
SOU 40
88H 3BH
08 08
04 niK
03 05
7Hi 73 7HVi
,. 08K 084 0S
,.05 05 110
, .102H WM 102H
, .1031 ins"! 1051
, .lnit; loiu 101U
. . 09 OH 00
.. 05H 03H 05H
. . l74 07; 07I
. . 00t 00 00
..ion 100 100
.. 07H 07H 07
.. 7114 7flH 7(li
.. 7(1 7(1 7(1
.. 05W 05W (I5H
..100U lOOVj lOO'i
..01 01 ni
.. on na fin
.. 61 54 nl
..ion inn inn
.. onjj, 00H 00H
. . oni oiiH onS
.. fl 7 4 7H
..08H 08H 08H
..I07H B7H 07H
.,102 1025 man
. .in4 104H ini
..KI2H 102H 102H
.. B5 05 05
. . 011 orv; 08
. . 08H 08H 08
B3U (i:iu nnu
Vi 102H 102H
Prices Heavy on Paris Bourse
I'nrM, Sept. 13. Prices wore heavy on
tho Hours today. Throe per sent rentoa,
CO franca 55 centimes; exchange on Tondon.
31 francs 70 centimes: fi per cent loan. 81
francs 45 centimes. Tho dollar was quoted
at 13 franca 70 centimes.
TODAY'S MARRIAGE LICENSES
nd
LIVESTOCK QUOTATIONS
Chicago, Kept 13. -- CATTLE Itecclpln,
7000 hend. Native beef steer atronic to i!5e
hlKher, jearllnns and handy weights un
mont. Top ye'trllntc, 110.85; bulk natives,
S7(I0.75; she stock stromr to 13a hlKhors
some fat heavies up more' bulk fat sho
Mock. 14 '.'5'a'l).L5 dinners and cutters, I'J.Bn
H3 50. bulls atrong, bolognas, mostly 14 0
4.85; beef bulls, larcrely S4.76(t5.50; light
veal calves, 25c to 50o higher; hulk, fl3&)
13 5(1; storkers steady bulk. SStfil.
HOOB Hecelpta, ai.ono head. Jlostly 25o
to 40o lower than yeeterday'a average on
llrhts and light butchers) other 25o lower.
Tuw SO early bulk llghtn and light butchers,
S8 401IR53. bulk packing-. SO 6007; pigs,
moitly 25c to 60c luwer; bulk better grades,
7 758
siun.p Iteci'lpta 24.000 head. Fat lambs
nt.adv to 25o higher feeder lambs sternly;
lop native lamb to city butcher. JO 75;
bulk early, IS.'jnWU 50: culls, JUWll.M; tew,
JO 50. western lambs top early SO. 76,
Pittsburg h
I soo head
jorkers So,
n"HP8j
Steady, Ton ahee
18. 1IOOS Receipt
ileaviea, 10 1 hea
Sent
MtftJIIV.
r,50.75; light yorkers, so
,
leavy
0,25;
D LAMnB Hecelpta, noo head.
y. tod aneep. so ion
CALVES llecelpts. 100
ton lambs. 110.60
head. Steady,
Top, $14.50.
Kast Iluffftlo. N. V Sept. 13. CATTI.B
Itecelpta. 100 head. Steady, .Calves, re
ei)ti. 1O0 head. Steady, J54MSI few,
liwlsheeelpta. 2400J head JOc to -J0o
hlghef. Heavy. S0.230.40: mixed and york-
iv.wi uiiu io;ri anu iki. la.L'nira
I4.2PO
head.
J0.50.i
ara
0.411
roughs, 10.25W0.5O; stags,'
A t
"'T.V.nn .9 .' i irtm '.
biib 'tr uap -in
ma
Tami
ota
'
.35o. hi
law
i Jitagi
(Ant.
LamWrJ"s,
vr-Mi if
D40.
and
and
and
and
and
nnd
and
st
James J Olllen. 2110 Dickinson t,.
(Wtrude McDevltt. 2410 Pine at.
Albert J Stemler, 1222 S. 60th at.,
Katherlna Sutton, 2001 B. 8th at.
I.'nrl c. Wellenchhy, 1320 S 50th at.,
Florence M. Price. 420 N. 62d et.
Joseph A. Morraghan, 1026 S. 57th at..
Anna McOIll, 2010 N. 20th St.
Jacob Iber. 1322 N. llarahall St..
IMIth Coren. 2007 Kensington ava.
Chnrln I). Mullen. 2510 E Berks at..
Tllllo Cosgrove, 3520 N, Marahall at.
Itnv J Wertheen, 51B7 Market at..
Maude A Hale. 80 N 62d Bt.
Wesley W. Zeh. 712 W. Venango at.
i.un .u, . -ninr, i.nnsaatn. i'a.
Oeorge V Hlgglnbotham. 27(6 N. 11th st .
and Oertrudo H. Illlboa. 8083 Stanton at
William Hall. 80H Nectarine at., and Klsle
Williams, 1430 Fawn at.
!enny Yublenakl. 4501 Taconv at., and Caro
lina lllshskll. 46(11 Taconv at.
Llw.ird L' Kalghn, 38 II. Tulpehocken
and AdatnldA PrlrA 1A1T TJ 17th
Peter Itoe, 1435 Ogden at., and L'sther A
McCrlnk, 1433 Ogden at.
John J Nolan. 3410 N. 22d at., and Mar-
caret M. Leonard 2044 llelvln at
JessaC, Johnson. 005 .N, 7th at., and Vlk.
, torla Flllppl. 604 Masier St.
Manuel P de Max. 3B8 Allen lane, and Mabel
K, Fenton, 01 B, llortter at,
Edward P. Maglnnls, 1001 fl. B4th at., and
Anna O. Falrweather. 4243 W. Olrard ave.
William H. Ixinpold, 2103 N. Lelthgow at.
and Klvlna Htegmuller. 1741 N. 8d SL
Vllllam 11, Elsasstr. Clifton Hill. Del., and
. .Marv J Oullfoylo. 2023 N. Ilonsall at,
AuUHt K. Ilauor, 3340 N. 11th at., and
Jessie H Illckol. 34311 N. Cnrllslo at.
Josph Steclman, 4020 N. Warnock at., and
Lisle Olnsberg, 1023 N. Carlisle at.
uahrlel Lantlerl, Camden. N, J., and Edi.a
M Venter Camden. N. J.
George C. Penny. 4050 UplarM at., and Mary
E. Cnfer, 0000 Upland at.
Henry Munz. 2240 Snyder ave., and Marie
Lnfferty, 1810 Jackson at.
Tludolph Paulson. 000 S. Front at., and
Florence K Frnsch, 020 H. lfTont at.
William A. Ilell. 110 N. 40th at., and Nellie
11. Ford, 1144 finyder ave. '"9
J"m,'? 9 ?.hirer' l'nl.'A. rJ?y Yard, and
t T in i.j r?f ' n. i aiouiorp at,
MM DOiriic, un iv.
A Bad Debt Loss
of $57,724.19-
Could Your Business Stand It?
Bad debt losses hurt most right now So, when a leading
firm of New York recently suffered the above loss,
they were mighty glad to be protected by the American's
Policy of Credit Insurance. They have just written us:
"We acknowledge receipt of your check for $57,724.19
in settlement of our claim under your Bond of Indem
nity, and wish to thank you. Your adjuster was entirely
fair and correct and the settlement was made to our
entire satisfaction.
We have carried your Bond for a number of years
and can recommend this form of protection to all mer
chants who extend credit."
Manufacturers and Wholesalers, get full particulars.
Payments U PcHcyhildtrs ovtr $10,000,000.00
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E.M. TREAT, president
ISSUES STANOARO.UNUMIT-0 POLICIES
W. J. Morphy, Manager
J. F. MacFadden, General Agent
1011 CHESTNUT ST.
Phone Filbert SS02 Philadelphia, Pa.
ii I?
Jo!
8d at., and Arma ill
tana., iiui rt, American St.
William Kealey. 0744 Dltman at,, and Barah
Jv Hawthorne. 6000 Keystone at.
Wllllant C. Klnker. Camden, N. J and Mary
II. llentx. Colllngdale, Ta. ' r
WM'yr?. l?oPwhaVd. SI wT'DuiTit."- 'nd
"ecnornenE.'kU.n82 WW'Si. N' Y" n '
Ttoy Morris. 1013 V. Lehigh ave., -rid Dei.
ala V. 8chaefferll4p S. Iluby (it.
Warren 15, Kahler. 2128 H. 07th at, and
Irene II. ' niddie. ho5 Trinlt place. .
C. II. Herbert, SS50 N. Frarktin at., and
. ?JhejloClorajw
frfunntltoy01
SlfflBL
knows the value of
thorough Title Insur
ance.
To all who may tx? interested
In property titles, cither ns
owners or lenders, wo offer
exceptional facilities.
North Philaddphia Trust Co.
Bread St and Germantown Ave.
Above Erie Av PhilaMfhSft
--" - -i r it t a
1
.7
m
t
I
r
m
I $
: ... vi. r
"-"-misajsiiigsn isasssMMpMawa-sssa--
.(
;
. 5.. -t . V - .. .
",.. t - , yv.?.; -,. .
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