. i-t
iw;
mum
:
".HsJ
I :WB4
!t1 M
IfWL
!!J I
hi
lis I
3L, .TmPT -ftrril-r .'I-''" " " ' " ' ' ' ' '...! i , ' ' ' ' ' : v ' i ' ' ' " v . ' ' ." ? ij11 .,', . '"'.
r Pfflf 1nWMFNT I NEW YORK STOCK EXCHANGE TRANSACTIONS I R RR NR NFm
h jniji III U I 1 I II I n MmJ B I Ull-I eg,ge -
W "lFRY IWIKINK S -,:::" Ss a. f ?'l 3 sai a. If ? Tf) IRRFRIII ARITY
of Loast Resistance for the
nt Distinctly c
Upward Tack
-,. KSrta
K,',! 7u, KJ.m.am nl.tL.dn u
Kjs i:V "u',0"- wiauiiuuj uii I.IIU
New i'ork, Sept. 17. The week
(Jed with an extremely Irregular and
UsWtratIc' movement In the Industrial
11
pwlaltlcs In today's stock market.
Tie railroads received only scant at
tention. A number of selected shares,
embracing largely those commanding
foremost attention In tho recent for
ward movement, made substantial ad
vances In the Initial dealings. Ilefore
the end of the first half hour the gen
eral lint ran Into strong reactionary
currents and prices broke sharply In
all directions. The setback was espe
cially violent among the opening
leaders. These breaks, however, were
Mot followed up by fresh selling, but
the market became dull nnd. extremely
reflecting the ultra-profcsslonalUm of
tne dealings As a matter ot tact tne
optrations were made up for the most
.part of the familiar week-end evening
ap of the trading element.
The week's development, demonstrated
beyond dispute for the time being, the
line of least resistance in market move
ment is distinctly upward. The Teal
motive for the upturn in security values
has not been disclosed. Thus far It is
jenerally admitted the propelling force
emanated largely from the routing of
an over-extended short Interest nnd a
renewal of pool activities. There are,
of course, man) who are still uncon
vinced the market upturn Is justified
by fundamental and economic factors.
Yet It is recognized by all fair-minded
observers there must be some appreci
able change for the better in the general
Situation to warrant resumption of
clique operations. The unwieldy short
Interest created by the disheartening
trail of the prolonged bear market sup
plied a powerful fulcrum for the mar
ket lever on the part of those pledged to
constructive side, but other contribut
ing;, sustaining and stimulating in
fluences were supplied in the acknowl
edged satisfactory progress of the com
mercial convalescence. To which could
be added the undeniable growing case
ment of the money market. Proof of
the latter was readily supplied In the
complete absence of the first sign of
disturbance attending the large income
tax payments this week.
while no rampant wild bull specula
tion could be maintained or even coun
tenanced, yet the character of the mar
ket In the last two weeks, to all ap
pearances, warrants the bollef of the
real corner having been turned, with
little possibility of a recurrence of the
bear market. There are still many ad
justments to be accomplished, which
may produce further omissions or re
duction of dividends. These, however,
will prove reflections of the past, and,
unless usually well-defined signals
are false and misleading, Wall street
has started to do what it ever has done
ince its beginning that is discounting
the other side of the picture of the
business, commercial and financial
situation.
Largely because of the prolonged
domination of the bearish interests,
quite a few fail to find any association
between the current market movement
and that of business possibilities. They
are of the opinion technical rather
than outside condition are solely re
sponsible for the reversal. They point
out that the shifting of position on the
fart ot any individual trader is a flimsy
oundatlon upon which to build exten
sive bullish operations. In both con
tentions they are partly right. Off
setting such a theory, however, is the
direct and circumstantial evidence of
the more favorable general business
conditions. It is true the improvement
Is decidedly spotty and of a spasmodic
nature, but there is clearly a clean-cut
change in the general order of things,
which applies to the market as well,
the paramount feature of which is the
gradual ascension of the demand over
the supply, whereas heretofore the rule
was reversed.
LOCAL DEALINGS
ON SMALL SCALE
Sales
100
lajo
1(00
700
0O
100
200
100
aoo
100
200
100
100
300
100
100
1400
100
700
200
1100
300
30J
1901
10)
103
700
2000
200
'2100
330J
800
100
2200
18000
SOO
200
300
2100
son
400
900
300
8.0
100
SOO
600
100
300
100
loo
100
1800
400
100
300
100
100
400
100
200
C00
100
500
300
300
1000
7400
400
100
400
2100 2
3900
100
400
100
700
1000
800
200
200
1400
200
200
200
100
3500
600
900
' 100
700
100
100
100
700
100
200
200
ICO
1100
100
400
100
100
Total
Dlv.
in I High
.. .Advance TUimely .... WJ4
AJax Rubber MMi
Alaska Juneau G M.. 154
4 Allied Chem A Dye... "W
4 Allla-Chaimom 3K
.. Am Agrlo Chem pf. ..
4 Am Bank Note H
.. Am Beet Sugar 37ft
. . Am Bosch Magneto.. 'W
.. Am Can "W
12 Am Car & Fdy '
..AmDrutrSyn S
5 Am Express
.. Am Hide & Leather.. 11
.. Am Hide & Leather pf U4
8 Am Ice
.. Am Internat Corp.... 82
1 Am-La Franco Ens;. . .
. . Am Linseed '7
7 Am Llneeed pf "K
Am Locomotive "5
.. Am Safety Razor. ... 414
..'Am Ship A Com H
. . Am Smelt See '7
Am Steel Foundries.. 28
.. Am Sugar Rcf 08 H
7 Am Sumatra 444
0 Am Tel & Tel 108ft
12 Am Tobacco 13BVi
7 Am Woolen 7ft
.. Anaconda Copper .... 38Ji
0 Atch Top A Santa Fe. 85
S Atch Top A S F pf... 80&
.. Atl Gulf A W I S 8.. 38
7 Baldwin Locomotive . 90
.. Baltimore A Ohio 38,4
4 Baltimore & Ohio pf.. 81 K
.. Bamsdalo Class B... 10
Bethlehem Steel B... SK
. . Booth Fisheries 3H
.. Brklyn Rapid Transit 9
10 Bnrns Bros 97
.. Butto Copper A Zinc . K
. . Butte A Superior Cop. 115
.. Caddo Central OAR. 10
. . California Petroleum . 37 V
10 Canadian Pacific . ...112JJ
Case J I 4J
Central Leather 38 J4
., Central Leather pf... OS
5 Central of N J 199
.. Cerro-de-Pasco 20 J4
6 Chandler Motors 47
.. Chi & E T 1st as pd.. 6
.. Chi A Ot West pf 16 JS
.. Chi Mil A St P 28ft
.. Chi Mil A St P pf 39ft
8 Chi A Northwestern. . 67
.. Chi R I A Pac 33M
6 Chi R I A Pao 6 pf. 00
7 Chi R I A Pac 7 pf. 77J4
.. Chile Copper lift
. . Clilno Copper 23
.. Coca-Cola 35ft
.. Colorado Fuel A Iron. 35
A Colum Oaa A Eleo. ... 57 54
.. Colum Qraphophone . 4ft
.. Consolidated Dts Ins.. 1
.. Consolidated Textiles. 1834
. . Continental Candy ... H
8 Corn Products Ref... 74ft
80 Cosden A Co 36U
4 Crucible Steel 3ft
.. Cuban Am Sugar 13ft
. . Cuban Cane Sugar pf . 20
0 Delawa.ro A Hudson.. 101
10 Del Lack A Western. . 107ft
1 Dome Mines 17 ft
8 Enillcott-Johnson .... 68 H
.. Erlo 13 H
.. Erie 1st pr 19ft
8 Famous Players L.... 56(4
10 Fisher Body 85ft
.. Fislc Rubber 10
. . Froeport Texas 13 Y
.. Gaston Wms A Wig.. ft
. . General Asphalt 52
8 General Electrlo 136M
1 General Motors 10
6 Gen Motors deb 7.. 73ft
7 Great Northern pf. ... 70(4
4 Great North Ore ctfs. 28M
.. Gulf .State Steel 39X
4 Haakell A Barker Car 5Sft
.. Houston Oil 81
7 Illinois Central 95ft
60 Indlahoma Ref 2K
.. Inspiration Con Cop.. 84
.. Interb Con Corp IV
.. Interbcrro Cons pf.... 7ft
.. Int Agrlcul Corp pf... 39ft
7 Int Harvester new.... 81
6 Int Mer Marine pf.... 46ft
. . Internat Motortruck . 31
Low
13
21 ft
t
41ft
34
63
50 ft
39ft
34 ft
37 ft
126H
4H
lie
it
81ft
56
31ft
24
52
89 M
4ft
ew
30 ft
35
62
43
108
125 ft
74K
38
85 ft
80ft
27 ft
8H
3SH
61ft
10
54 X
3K
Oft
95 X
4ft
13H
joh
36ft
112 ft
4?4
28 H
65
199
26ft
46 ft
6
16ft
am
39ft
67
33 ft
60
76ft
10ft
23H
35
34 H
57
ii
ft
18
73 M
20
61 H
13ft
19K
101
107
"ft
04 ft
13 ft
10 ft
55 ft
85 ft
10
13 ft
ft
sox
"Oft
10
73 ft
75 X
28X
39X
58 ft
SOft
95 ft
3X
34
3ft
6ft
39 ft
8Cft
45 ft
31
ft
ft
ft
ft
X
H
ft
ft
X
ft
ft
ft
13 -
33 -1
-
4Ift
34 ft
63
50 ft-29ft-34ft-7ft-
137 -4X
116
11 -61ft-56
31ft
9
34 -63
ft
90ft
4ft
6ft
36 X
28
63X
43 ft
108 135 ft
88X
80 ft
38
80ft -f
38ft-
51ft
10
54X -
3X-
0ft-
90 -
4ft-
14ft 1ft
10X X
30 ft-
H2ft
4X
28X
65 -101
28 ft
46ft
0 10ft
25X-30ft-07
33X
fed
77ft
11 -f
25
57 ft
4ft
X
18X X
73 X -20
-62
ft
18ft 19X-
101
107ft
ft
05 -13ft-10
ft
55 ft-85ft-10
13 ft-Ti
50X
13X 10
73ft
3X
31
3ft
7 -39ft
4
81 4
45 ft-31
ft
X
ft
X
t
ft
'ft
ft
X
ft
ft
ft
ft
1
ft
'ft
'ift
ft
Sl"
too
1700
1400
100
500
1000
300
100
100
2500
1300
8(0
200
1200
100
10
100
16500
Hlth
Int Motortruck 1st nf. 68
. i International Nickel.. 14ft
. . International Paper .. SOX
. . International Cement. 34
. . Invincible OH Corp... 8ft
. . Island Oil 3ft
. . Jewel Tea pf 33 ft
.. Kansas City Southern. 36
4 Kansas City So pt. ... 81
4 Kelly-Sprlngfleld Tire. 43ft
.. Kennecott Copper ... 20ft
.. Koystono T ft R. ..... 13
. . Lackawanna Steel ... 42
.. Loo wo Co lift
1 Loft Candy 10
.. Manatl Sugar 37ft
.. Market St Rwy 4
12 Mexican Petroleum ..115ft
70
100
200
100
100
200
900
100
300
100
200
100
600
000
3300
3300
600
100
800
100
3200
1700
1300
100
100
1000
4800
100
300
400
300
500
300
100
100
300
100
200
100
100
1800
100
flOo
13 ft
36ft
10
3)4
3
x
a&lai. 233.000 haxei. compared vrlih 518.81:5 ihares
2900 1.00 Middle Statca Corp..
. . Mldvalo Stoel . . ,
.. Minn ft St Louis,
.. Mo Kansas A Texas..
. . Mo Kan A Tex pf . . . .
. . Missouri Paclfio
.. Mo Poo pf 39ft
. . Montgomery Ward ... 19
7 Nat Cloak A Suit pf.. 60ft
. . National Con A Cable. 1
6 Nat Enam A Stamp.. 37
7 National Lead pf . . . .'. 103
.. Nov Con Coppor lift
6 New York Central... 71 X
.. New York N H ft H.. 14X
6 North American ctfs.. 40 ft
.. North Amcr pf ctfs.. 34ft
7 Northern Pacific 78
. . Ohio Body A Blower. . 10
.. Okln Prod ft Ref 1ft
2 Orpheum Circuit 18X
.. Pacific Oil 35ft
0 Pan-Amor Fotrol .... 82ft
0 Pan-Amer B 49
.. Panhandln Pet ft R... 7ft
.. Parish ft Bingham.... 10ft
2 Pennsylvania R R. . . . 38ft
.. Penn Seaboard Steol. 11X
.. Peoples Gas Chicago. 83
.. Pere Marquette 19ft
3 Philadelphia Co 30
.. Plece-Arrow Motor.. 12ft
.. Plcrce-Arrow Mot pf. 36ft
6 Pitts Coal 68X
B0 Pond Creek Coal 14ft
7 Press Steel Car pf . . . . 85
.. Punta Alcgro Sugar.. 20
2 Pure Oil 34ft
. . Ray con Copper 13 ft
.. RR S of I C 3 65
2 Railway Steel Spring. 15
4 Reading 71ft
.. Republic Motors 9
.. Reoubllc Iron A Ste1. 6314
1500 8.20 Royal Dutch Amor... 49ft
100 .. st Louis San Fran... 23X
OOO .. StLASWRR 25
. . St Louis Southwest pf 34
'. . Seaboard Air Line pf. 10ft
. . Sears-Roebuck 60 ft
.. Seneca Cop Con loft
74 Shell Transport 38
.. Sinclair Oil 20X
.. Sloss-Shefflold 39
6 Southern Pacific 77 ft
.. Southern Rail 20 X
7 Stand Oil of N J pf . . . 107
. . Stromberg Carb 33
7 Studebaker 76 X
1 Submarine Boat Corp. 4ft
.. Superior Oil Corp.... 4X
3 Superior Steel 32X
3 Texas Co 35ft
.. Texas ft Pacific 22ft
1 Texas A Pao C ft O. . . 10ft
. . Third Ave 16 ft
6 Tobacco Products .... 00
.. Transcon Oil 8
.. Union Oil 18ft
10 Union Pacino 120ft
0 United Fruit 109X
e United Retail Stores.. 54 X
..US Food Products... I4X
4 U S Ind Alcohol 48X
.. US Rubber 49X
8 U S Rubber 1st pf.... 87
BUS Steel 70ft
7 U S Steel pf 100X
2 Utah Copper 51
.. Vanadium Corp 33X
.. Vlvaudou Inc 8ft
.. Wabash pf A 20X
'. . White Oil Corp 8
.. Willys-Overland Oft
. . Willys-Overland pf . . 28ft
8 Wilson & Co 3614
ft
"Jt
X
- ft
loo
100
900
2000
100
1800
100
800
400
200
200
6800
200
200
100
2400
500
800
1500
3100
400
200
200
200
1200
21300
2100
17C0
300
7800
100
1200
2100
2100
100
100
200
300
300
yesterday.
Thun far this fek, 3,803, -UD.
isx
35
10ft
30
77 ft
20ft
100ft
32 X
75X
4ft
4ft
32 X
35ft
32ft
10
16ft
67X
I7X
8ft
120ft
109X
S3X
11
47X
48X
87
78 X
109X
SO
32ft
8
20X
8
6ft
28ft
35
Commodity Markets
J'
Encouragement Found in tlie
Progressive Easement of
Money Cbnditions
Dealings in the local market were on
fjhe same diminutive scale usually ex
perienced on the half holiday. The
transactions in most cases were en
tirely perfunctory, and more than half
of the list was without a quotation.
Tne market was extremely thin, au in
dicated In the rather wide price changes
registered on comparatively small turn
overs. Electric Storage Battery, on a
small odd lot, recovered all of yester
day's decline In rallying to 1054. On
the otter hand, Philadelphia Traction
was depressed 2 points to 51 on the
sale of a few shares. Union Traction
at the same time shaded to .101. U.
O. I., after reacting to 314, rallied to
82. Pennsylvania Railroad ran off i
to 88, while Philadelphia Company
was up at 20.
No other development from a local
viewpoint has been productive of
greater encouragement than the evi
dence of the growing easement in the
money market. This is a natural se
quence of the remarkable betterment of
the local banking position, which pos
sibly is more striking than ot nnv of
the other principal Reserve centers. This
does not mean the possibility of an im
mediate slashing of rates, but is re
flected In the more Indulgent attitude
of the loaning institutions and the
broader market for all classes of loans.
It would not be surprising within the
next sixty (lays that high-grade mllnt-.
ral loans could be obtainable under fl
percent, a ms compares with from 7 too
ner cent a year ago. For the first Hm
'in nearly five years many of the larger
institutions are taking gilt-edge short-
wra paper. j.ne very same loans, six
Bjontbs ago, were refused at 0 to 03i
per cent, whereas this week they were
grabbed up nt 0 and O'.i ner rnnt ti,
more liberal uttltude on the part of
mc loaning insuiuuons Mas been in
fluenced to a greot extent bv mun f
the rapid accumulation of loanable funds
Within, the last few weeks. At the
same time n more cheerful feeling has
grown up Decausc ot mo more encour
aging reports received from the differ
ent lines of trnde. In the spring there
were a lew ovjaences or betterment,
notably In the textile and leather in
dustries. In the lost month, hnnmvr
there has been consistent picking up
in both, which has been followed by
, securing mmi-m irum oinrr quarters
DIVIDENDS DECLARED
American Tower and T,lcht f-nmnnnv ......
Urlr S per cent on prirred. payable
(TlAtftTKAi 1 In mtnflt itf aamc.I 4J..,. L .
' Crucible 8ttl Company of America uiur
.jerlr 1 pr cent on common, pajable Oc
uwr at in aiocK oi recnm Delayer 13,
itfpndtnt I'neumatlc Too) Company.
Quarterly 12. payable October 1 to atock
Of record Beotembfr 22
"Philadelphia Company, quarterly 73 centi
on common, payable October St to mock of
record October 1 and teml-annual SI .so on
preferred, payable November 1 to atock of
raeprd October 1.
Buntlmdon Development and das Com.
,panr. quarterly 14 per cent upon preferred.
MriMa October 1. to atockholderi of record
wWBDer jo.
GRAIN MARKET
Chicago, Sept. 17. Wheat started
unchanged to 94c lower for December
and 4c to lc off for May. Trade was
moderate, with commission houses sell
ing nt the outset. The decline met with
resting orders to buy and these induced
some buying by pit traders. Later the
latter sold. Receipts inspected yester
day were C6 cars; last year 58 cars.
The cash market was Inactive, due
chiefly to lack of offerings of choice
grains.
Exporters had bids for No. 2 red
after the close yesterday and could find
no sellers. Export business temporarily
is at a standstill. Deliveries on Sep
tember contracts here this morning were
45,000 bushels. Country offerings to
arrive were light.
The corn market opcnel uncnangeu to
aic lower, with some scattered selling
encouraged by estimated receipts of 330
cars.
Oats started "Ac lower for Septem
ber and May and steady to c higher
for December. Trade was moderate,
with selling by brokers supposed to be
acting for elevator interests.
COTTON MARKET
New 1'orlt, Sept. 17. After yester
day's big liquidating movement in the
last hour, cotton opencu comparatively
slendv this morning. On the llrtt call
July was 5 points higher nnd other
months were a to - points lower, irau
ing was mixed. Commission houses,
Liverpool and Wall Street operated on
both sides of the market, while Japan
ese interests bought nnd New Orleans
nnd the South bold.
Aftsr the start there was increased
ressuro from the South and through
commission houses, which depressed the
list and it was rather heavy, at about
30 points net loss.
While tliero was a good class of com.
mission house buying on a scale down,
and further buying for foreign ac
count, prices rallied only partially from
the early declines, and in the second
hour still showed net losses of around
35 to 40 points. Apprehension was felt
that Liverpool might be benrlshly nf
fected by tlie reports of an easier basis
Boutli, tnis tending 10 restrict new ouy
motlnir local selling
A dispatch from a Texas spot firm
said that a large perectange of specu
latively held spot cotton probably had
been liquidated on the decline. The
hous placed the condition of the Teiai
crop, as of September 12, at 30. with
an average yield of 00 pound1 of lint
cotton to the acre.
prices 11 to 10 points net higher shortly
after 11 o'clock, December touching
7.5b'c and July S.14c, with very little
coffee for sale.
Yes.
Open Hlth Low Close elo
Sept 7.ii 7 li!
Oct '1.U 7.33 7.1tl
Nov 7 4.1 7.31
Deo 7.84S55 7.00 7.0U 7.S7O50 7.47
Jan 7.no ... 7.SS 7.fl.'i
Feb 7.70 ... 7.7N 7 nt
March . . 7.S3SS5 7.S9 7.84 7.87388 7.73
April 7. OR 7.SU
May 7.0S8 00 8.05 7 US 8.01! 7
June 8.0S 7 0S
July 8.ia 8 15 8 13 S.15 x 03
August 8.2J 8.1u
Philadelphia Stocks
.... . - HiKh Low Cloae
11 Elec Stor.10r.ii 104 104
U Leli Xav. 03 05 05
18 1'a K H.. 38 3S 38
Net
chie.
50 Phila Co 20 20U 20$ fl
10 documpf31Z 31V. tflSI 7?
225 PhilaElec 22 22 22I U
205 do nref.. 2fli, 2iZ onit
' " i ',
51
CI 2
Financial Briefs
504
noI
32
coi now..
31'S 32 $
The averaie price of the twenty active
Industrial etocke advanced 0.27 per cent
yesterday to 70 05 while the twenty rail
roads advanced 0.11 per cent to 78.30.
For the year ended June SO thn Crei
5rf-rp, Company reported a net loss, after
Justment of Inventories, of IS.M.n.ll, com
pared with a net profit of H47.042 In the
SJ'cedlns sear Net earning-a amounted to
ij,.sa and profit and loss surplus, aa of
June 30. 735,417. against Jl. 122.008 last
yc&r
Of thlrtr-flve electrlo light and power com
panies whose earnings for the month of
July have come to hand, thirty-one report
increases In net earnings as compared with
July. 1620. The fact that twelve of these
companies improved their net aarnlnga In
aplte of a falling; off tn gross reflects the
better control that the electrlo companies
now have on operating expenses.
w.Gi?ner.1.' ,nProvnint in postal savings de-
"" luruucnoui me country wa shown
y August renorfH. thn ftnatnffi.. nniv.n. in tlin i,.nnl,l.. ....i . '.
On fh flri.1 -nil announced. Total m, ii J, ..lv.. ,.. AV """cineni ot
w.. - -.. .. . , - .....:"-" --. w nn.w- ir,rK , - .! IT....
" .u.l., IK1IIN..
aonroxlmattlv iv, jnn tnn ,,,.,....,.. A.
month of about 1100. 000. tno smallest de
crease shown in several months.
,-D.Jlr ,?vfr".reltro" crude oil production
H1 .th "nlfed States for the week ended
September 10 was 1, 276. 040 barrels, com
pared with 1.202,270 barrels the week be
rore, according to estimates of the Ameri
can Petroleum Institute, a decline of 12,230
LJrr,v" Current ngure represents a decline
of 00.080 barrels from the high record of
?d.u.?iiun "Ported by the Institute of 1,
314.1J0 Ual.y (or the week ended Juno 11.
Chlrago and Northwestern has virtu
ally closed Iti account with the Qovt-rn
ment Its original claim for tho contract
period was around J40.000 000. Including
interest, depreciation, etc. The Government
rut In a set-off claim of around J12,000,0uu
for additions and betterments and has ad
janced about $10 COO, 000 from time to time
leaving 1S 000.000. which the company has
arranged to settio forthwith for 38,000,000
it owes the Government nothing.
Sharp setbacks In the price1 of wheat have
taken pUca thin week with traders ctvlnir
intr tn n consldernb 0 extent and nro-I y?'l1""'r"'niion tn acute oppression of
... - . .;. ; if-iBn vjii iKtiiKCH ana
SPt.
Oct. ..
Dec.
Jan..
Mar. .
May..
July..
Spot .
Bid
Previous
Close Open
18. .10
18.07 M8.40
10 00 18 81
High Low
18.85
18. HI)
18.8.1
18 25
18.70
18.0.1
18 05
18 30
18. .15
18 8.1
18.75
18.75
18,05
18.30
18.10
18,30
18.37
18 35
18.18
17.95
Close
18 io(in
18 5058
18 HKu
18.3r,ai4ll
18. 18927
17.05
18 00
NEW YORK COFFEE MARKET
New York, Sept. 17. Tho local cof
fee futures market oponed 0 to 10
points higher this morning in respond
to tho bettT Brazilian bhowing. The
demand for contracts on the call was
fnlrlv active. There was nothing In the
Sao Paulo weather news to Indicate any
danger of a cold snap there, although
ruins were reported In some district
nnd clearing weather, following n rulny
upell, during the full moon period, often
brings on a cold wave, endangering
lowering.
Afti-r the call both Knntos nnd Hio
Here reported firmer and higher, nnd
this brought in Wall Street covering
orders, together with n moderate amount
of scattered trade buying, which sent
iMjg-continued
iges
drau,
to rolnu brenklnt-
ght In Argentina. Com-
I'orcu wnn a we ago. wneat this inorn-
titic yih u-4. io or lower, corn uown 2n k
7ir, G&ia
to 00c
'ic to l'c and wovlslona 17c
maturities. Including railroad.
Cornorate
public utility and Industrial Issues In Orto
ber. 1021, aggregate 130. 230. 455 acRln.i
rl'vi4,7 ,.)" September and J27,740.01u in
184
October,
102U.
Limited r-
Whalen Pu.o and I'nwt Mill
port operating profits of 11.208.834 for ear
t2?2'1Fj,'brua" . ln-'- comuarod with
IS78.B40 for previous ear. After deducting
taies and othr chant's und writing down
large Inventories, but beforo depression, net
profits were J53O.O03 compared with 1323.
,i...ccor(,,n5 to,the Horn nlan Bureau of sta.
fJ,V'cin..?ro,1.7.c,lon "'"l1" In Canada dur
'ilr.?n10SU w " e"Hal ic ot urpass that of
1020. During the first half of the year
Silver Drodurttnn rn,Alri n J ili '1
,!
which
ductln
13.330 357 fine ources
ripld over
jn 1 1 .,( n.
,.o,a.'...?r.o.'iuci'0' ' lO-'O ien production wk.
jesterdiv nf
".Phil Trac 51
2 Phila Ins
Wire...
15 Un Trac.
147 U G I...
Ev dividend.
noT.?'"! '. 718 shares, compared with
13.51! I td'- Thus far thU itoK,
PHILADELPHIA BONDS
?SJ -tonty -Jth 4'4s '38... lota 80.20
1450 Liberty 4th 4a '38 80.24
10(10 I'ennn R It ranu da 'A1 on
1300 Phila Klec 1st Cs lots 85
TOtal. 17nr.fl r.r...A .... .... ...
t.rday Thus fa?' tKl."werk"")430,200. y"-
NEWYOBK BANK STATEMENT
Excess Reserve Raised to $64,628,
270 Heavy Loan and De
posit Expansion
The financial operations Incidental to
tno tar payments fio-ii,) nn,in.ii.
i, ..:..;.,.. --'- ii"w
it tho ISew
iHtiAis.i sVt
J.oans nnd .lisoounts showed an expan
sion of S77.i:m nnn ..ui. ..i7i'.i.",
in. i. '---"'" oiiuu inuiviiiuai
deposits were .$r,2,092,O00 larger. The
increase, liabilities, however, wew off'
oj the increase of $45,407,000 In
ervo HennlC "J11 ftt th Pdoral rS
IZl nnkl A8 n rcsult ihe ess ro
brinHnW.n,' incr,co,,el $38,250,340,
''ringing the surplus above legal re
quirementH to $54,(!23,270.
fetalis follow :
AVKItAQEl
This week
120,128,030
500,122,000
i,oi.',ii:
Last week
17.001,070
480,033,000
000 4,320,116,000
73,173,000 70,720,000
480.071,000 470,150,000
Liens reserve
Aigregate res
I-oans, eto
-an in vaults
a member bks
Hetene in mem
ber banks and
rsra banks
Reserve In fitato
I'unks and trust
1 ' mpanla . .
Hrsepe In State
t'anks and trust
company deposi
tories N't demand de.
T.m.,1 ' ,. 3.074,200.000 3,022,007.000
Urculatlon . . 32,376.000
- t urooBirs
new York b'on sale
S. 720,000
8.331,000
8,520.000
8.287,000
Collapse in Commonwealth Fi
nance Early Featuro-Coar
Stocks Hold Firm
New York, Sept. 17. The feature
of tho trading on the Now York Curb
Exchange today. was tho eudden col
lapse in tho price ot tho two Common
wealth' Finance Issues. These two
stocks had recently been active and
strong, tho common selling as high as
71. yesterday ,It had n sharp break,
falling to 01, and this morning was
without support, tumbling to 45. The
preferred, which sold above 70 yes
terday, broko to CO today. Officials of
the company assert there is nothing
wrong with tho affairs of tho corpora
tion. Tho other Issues were Irregular. Coal
stocks held firm, Qlen Alden selling nt
38 and Farrell Goal atOU to 1U.
Holbrook was strong, ranging, from
10Vi to 10. Philip Morris continued
Its upward movement, a largo block of
stock changing hands nt OVi to 0.
R. J. Reynolds 11 stock sold nt 30 to
30. United Retail Candy held firm.
Southern Petroleum and Refining
made a further advance, selling at the
high record of SYj. Maracalbo was
heavy, dropping from 18 to 17.
Tobacco Products held firm at 0
and 0.
INmJSTMAI.8
High
Amer Leather
Ifrlt Amer Tob coup.
Car Light
Com Finance)
Com Finance pref ..
Empire Food
.Farrell Coal
Ulen Alden Coat ...
Holbrook
llavdeiv Chem ..
Locomobile 43
D ft 11 O
Philip Morris ...
Itadlo Com
Hadlo Com pref ..
It J Reynolds (new)
eouthern C A I ..
weeta Co
Tob Trod Exp ....
U 8 I, a II
u B tsteam
11
50
lOJi
18U
88V4
10J
1H
K.I
2
80K
2
1A
a?
Low
8
lift
45
EO
iok
IB
88
IS
1
45
80H
Last
8
DO
aou
2
ft
1
ai
Son
13
38'
10
1
45
85
OH
2
s'oK
2
2W
!.
1
ill
United Profit Sharln.... 1 1H ljt
United net Candy OS fi 0
Wayne Coal 1A 1A 1A
8TAND.nD OlM
Ando-Amer Oil 15U
Stand Oil of Ind 70
INDEPENDENT OILS
15
70W
Amer Fuel 15
Carlb Synd 4Vi
Ollllland Oil 2
Qlenrock Oil 00
Int Petrol 10
Keystone Ranger CO
Lyons Pet 07
Maracalbo Oil 18
Omar Oil SO
Producer & Refiners 4
Salt Creek Prod 10J4
Slmms Pet
Bkelly Oil 4H
Southern PAR 8Vi
15
2A
00
10
60
04
17
00
4
10U
0
4
3
15
70
IS
4A
00
in
50
114
P0
1W
o
4
SU
MINING
Alaska Br Columbia
Doston & Montana . .
Canada Copper . . . .
Carson River
Cresson Oold
Divide Ext
El Salvador
Goldneld Florence ..
Holltnser
MacNamara,
Nclntyre
.-National Tin
Nevada Ophlr
Nlptss'na-
Red Warrior
Tonopah Delmont . .
U S Cont
United Eastern ....
Amn Tob 7. 1028 ,
Aran Tel Cs. 1922 ,
Amn Tel 0s. 1024 ,
Anaconda 7s. 1929
Anslo Amn 7 a .,
Armour 7s
Beth steel 7s. luza
neth Steel 7s. 1D35
Galena 7s
Grand Trunk 0a
Humblo Oil
Interboro ns
Kennecott 7
I.lbbv McNeill 7a ..
Nat Leather Ss ...
NTN1U1HI
Southern lty 0s . . .
Southwest Dell 7s .
SONY OttS....
Swift 7s. 1025 ....
Swift 7s. 1031
Un Drue 8s
Vacuum 7s
West Eleo 7a
U S Brazil 8s
.... 43 40 43
75 70 73
35 35 35
'.'.'.'.'. 1A 1A 1A
24 24 24
Ill 10 10
41 , 80 , 40.,
OH OH 0
10 15 10
1 1 1
01 B9 60
40 40 40
4 4H 4
4 4 4
1H 1H IS
62 60 52
2H 2 2
DOND9
101H 101 101H
90 on o
08 08 98
95 04 1)4
101 101 101
oo . i8' no
08 J cs; osi
. ... 05 05 (15
00U 00 90
98H OSS 08
07 08 98
75 75 76
04 03 04
. . . . . 00 III! 00
00 00 00H
55 65 65
98 08 08H
07 07 07
103 103 103
00 00 00
90 99 00
07 97 07
102 102 102
101 101 101
90 00 00
FOREIGN EXCHANGE
Xew York. Sent. 17. The foreign
exchange market opened quiet with n
tendency toward steaamess.
Quotations were: ,
Sterling cables 3.71ai. demand
3.71 V'. franc cables 7.10. checks 7.00;
lire cables -1.4, ciieckH 4.2346: Swiss
cables 17.25, checks 17.23; guilder ca
bles 31.57, checks 31. 52: peseta cables
13.02. checks 13.00: Stockholm ca
bles 21.05. checks 21.00: Christianla
cables 12.87. checks 12.82; Copenhagen
cables 17.C5, checks 17.00; Belgian ca
bles 7.03, checks 7.02; marks .08.
The premium on Now York funds In
Montreal today declined 3-10 per cent
to 12 per cent. Canadian funds in New
iork were a shade firmer nt 10 23-32
per cent discount.
Central European exchanges were:
Rumania. 1.02; Austrian, .0014; Hun
garian, .m; uzecno-aiovnman, 1.22;
Jugo-Slavian. .40; Serbian, 1.04U:
Bulgarian, .72; Polish, .02.
YESTERDAY'S FINAL QUOTATIONS
Demand
Cables . . .
TODAY'S
Sterling Francs Lire Guilders
8.70'A 7.l!0tt 4 24 31.40
Demand
Cables .
Demand
Cables .
3.70 7.01 4.24'i 31.40
OPENING QUOTATIONS
Sterling- Francs Lire Guilders
... 3.7111 7.00 4.23H 31.52
.. 3.71K 7.10 4.24 biloT
CLOSING QUOTATIONS
Sterling Francs Lire Guilders
, ... 8.71 7.08H 4,23 81 47
.. 3.71 7.00 4.23 8163
LIVESTOCK QUOTATIONS
rlttcbursh, Pn Sept. 17. HOCJS rte
celpts 2300 head. Steady. Heavies, 18,25
0 8.60; heavy yorkers. t8.75O8.U0; light
yorkers. 18.2508.50; plira, S808.25.
SHEEP AND LAMBS Receipts, 1000
head. Steady. Top sheep. 15; top lambs,
iiu.ou.
60 head. Steady.
Sept. 17. CATTLE
Steady. Calvec re-
deducted
Lxccss reeone .
Atrttri-KHte ros .
Loans, etc
Cash In vaults
and member
banks
Reserve In mem
ber banks and
renrve banks .
Reserve In state
banks and trust
companies
Iterervo In ctate
banks and trust
company depositories
Jet demand dc
IK)alts .
Time deposits
12.040.000
32,417,000
60,483,000
100,480,000
ACTUAL
This week Last week
54,026,240 1111,808,930
042,418,000 107.209,000
4,400,451.000 4,329,812,000
09,212,000 ' 70.014,000
625,618,000 480,021,000
8.070,000
8,221.000
8,897,000
8,351.000
Ttlf rinlri nvor.BniiHntljin
the now izslooo one ic.nailan Vatlonal Italli , Circulation
was bond Issue was also an Indication of 'United Htat
investment
3,087,053,000 3,034,001,000
216,244,000 214,483,000
32.323,000 32,433,000
the healthy demand for prime
Beturmes oi nil qesrriptions.
..C"llTiaL,v"!cn atatlatlca show that 11 -115
SS0 barrels of oil war. nrodured In
MsxIlo In July, of which 6.810,488 barrels
were exported. Taxes on production paid by
the various companies to the Mexican Gov
ernment In July arr.ouniod to IMH 571) and
export tax payments were 11,200,000, a total
of 52.055,179.
The Guaranty Tnmt Company of New
York stock this mornlne was ciuoted at 175
to 180, which is Hllaht.y raster than Jester
day's quotations, when sales were mado at
iiuih log u ion, wun ine market beln.r
luoteq at 10 to 181. There were sale.
deposits de-
uuciea
220.222.000 04,090,000
BAR 8ILVER
Domestic bar aller was unchanged In New
York today at 00U o per flno ounce; forelfn,
05c, unchanged. In London the price was
unaltered at 30 d.
QUO
t5!.,imI,rnlP ' V0: 9cordlni to Uw wbo tid.ooo. x reornanlsatlou plan Is Ulna: oou
peclallze la bank stocks. ' sKsred.
Receiver for Owen Tire Company
rietrlanrt, ()., Sept. 17. Manton M. Scott
has been appointed receiver for the Owen
Tiro and Rubber c'omunny. of lledford. O.
It la said that thn company has assets of
approximately thOO.OOO and liabilities of
CALVES Receipts.
Top. J14.50.
Kast llulTnlo ,N. Y.
Receipts. 323 hend.
celpts. 200 head 80c lower. I6M13.60.
HOGS Receipts, 3200 head. Generally
steady to 10c lower. Plus. 25080c lower;
heavy. IS.25W8.75: mixed and yorkers, ID;
tight do I8.50O8.76; pigs. $8.50; roughs,
0: stags MflOO.
SHUEP AND LAMRS Receipts. 120(1
head Lambs. 14,50010.50; few, 110.75;
oinetj uncnangeu.
BANK CLEARINGS
Dank clearings today compared with cor
responding day last two years;
1021 inn mm
rhlla ...180,000,000 $84,472,080 $71,181,501
liosion .. iu,oDt,i,ni tl.l.uojtUSU
N. Tork 088.000,000
Ualtlmore 12,722.1109 17.240,722
U. 8. Certificates and Treasury Notes
Int
Rate
64
5i Oct
t' Dec.
5 Feb
t5e Mar
Maturity
uaie
Oct., 1921
1.21-
1022
1922
1022
Hid Asked Yield
1110 1-32 100 8-32 4.12
100 1.10 100 4.00
.100 100 3.87
.100 100 4 80
.100 8-32 10CI 8-10 4.00
.100 lOOli 4 05
.juu? IUUH 4.87
lOO 8-10 100 5-10 4.05
100 7-82 100 6-10 5.10
1110 3-32 100 3.10 5.00
OOtt 101 6 33
??..'. '..V.'... "."i" "". n.au
-c.Av.,1,.. ,w ,-vucrai normni income tax
t 'Acceptable for payment of Income tax
due on date of maturity.
Reserve Banks' Discount Rates
Official rediscount rates at the twelvo Fed.
citti ..cbw.v ..una n,c lOIIOWS;
i rees,
ctrs
. . 6
t'avi war
t5 Mar.. 111:2
t3 June, 1922
6 Aug.. 1922
f5 Sept , 1022
tt, June. 11)24
H1X R.nt lll'fl
Doston ....
New York .
Philadelphia
Cleveland 1
Richmond
Atlanta ..
Chicago
St. Louis
Minneapolis
Kansas City .
Dallas
San Francisco
I-lh. r-nm'l lit...
llonds. I'aper. Accent.
W D.
in
RU K1X
:; H S, SR
. 8 514 B
. . n 11 n
. a 11 11
. . 0 11 a
..11 a 11
.. 5 H 0V4
. . n n
..a e u
..6 B 8
Adams Exp 4s
-8 62
8 03
Amr. Asr'o A
Chem 7s
1 OT
2 90
2 OT
A S A R'e Si
0 78
1 77
Am T A.T.clt
2 88
1 88
0 88
Am'n Tel A T
cv 4Us
l;.... su
Am T A T 8s
9 88
1 80 tt
Am T A T 6
4.,.. 100
3.... 100H
1.... 100
1.... 101
1.... 100
Arse Rep'o 5s
3 71
1 73
A T A 8 Fe ai
2 73 H
A T A B Fe 4s
1 78
8 78
14 78
Ato T A S Fe
cv 4s '00
3..... 84
A A Danv 1st
B 07 U
A Coast L 4s
7 80
8 80
Atl'o Fruit Ts
7 88
Atlantis Refg
ct 0s
1.... 101
Atlas Pwdr U
7s vri
4 90
1 08
Dalt A Ohio cv
1 71
1 71
2 71
Bait A O 3s
2 88
1 88
Dalt A Ohlj 4s
1 71
2 71
Bait & Ohio 6s
6 73
Bait A Ohio 0s
2 OS
1 03
1 03
2 02
Bait A Ohio S
Wn 3s
4 83
2..:.. 83T4
0 83'i
B A O Tol 4a
2 r.o;
1 60?;
2.."... 57
Bell Telephone
of Pa 7s
1 103
Beth Steel fd
1 80H
2 80
Bdn Cop M 0s
1 Rfl
1 80
BToad'y & 7th
Ave en
1 42
Bkn Edl Co 0s
1 03
4 02V,
Bkn Kdl D 7s
8.... 102H
2.... 102H
1.... 102U
Bkn R Tr 7a
40 52
30 62
40 62
nush Bld'K Ss
2;.... 76
Bush Ter'l 6s
1 72
Can d' n Nthn
OHs rets
1 102
2.... 102
1.... 101
Canad'n N 7a
2 103
1 105
1.... 105
1 105
Cen'l of Ga en
1 87
1 87
Cent of Ga 0s
05
Ctl Leather 5s
00
Ctl Pacific 1st
1 70
Ct'l Pao 3'4B
1 81
C R N Jsy 6s
2 07
Cero de Pasco
Copr 8s
2.... 100
4 100
2 108
C A Ohio 4tts
2 77
2 77
C A O cv 4a
1 701,
3 70
C'k A O cv 3s
2.."... 84
2 . . 81 t
1 .... 84
1. ... 84
I'M A Alt 3s
6 47
8 40V4
Chi A Alt H".
1 37
Chi B A Q neb
6 00
C II A Q II 4s
8 83
C 11 A Q 04s
ISALK3 IN $10001
6..
6..
6..
3..
1
I 15 .
1..
102S
102H
1024
102
102 N,
1024
102S
2.... 1024
8.... 102S
Chi Mil A Pgt
Sound 4s
.. 024
.. 03
. . 04
..'03
03
Chicago Mil A
St P'l 4s
2 71
1 71
1 70
2 71
Chicago Mil A
StP d 4s
2 .... 57
4. ... 57T4
Chicago Mil A
StP cv 44s
0 .... 00
1 00
1 0OV4
Chicago Mil A
StP fd 4s
2. 50
:i '. oo
4 68.
Chlcagp Mil A
StP gm 4 4s
6 .... 77
Chlcsgo Mil A
UtP cv Bs
1 O0T4
1 . .. OOK
2 .... 6T
3 .... 00
2 00'i
1 . . . . en
C A Nwn 0s
1.... 10H4
Chi Rwys 6s
1 04 1;
C II I A P fd
2.... 70
1 70
2 .... 70i;
Chicago Union
Sta ct 04s
3..,. 1004
Chi A W I 4s
1 ..01
1 .... 01
2 01
Chile Cop'r As
1 .... 73H
31 .... 734
2 73;
2 731i
Chile Cop'r 7s
6 .. . 04
2 . .. 04 ;
Chinese Gov't
Hu K It 5s
3 . 40 '4
City of Bergen
6a rets
1.... 10
1.... 100
City Berne 8s
4,... 101H
1.... 101
1.... 101
1.... 101
CHr Bord'x 0s
1 84
1 83
Cty Chrla'a 8s
1 101M
8.... 101
City of Copen
hagen BH
8 81
1 82
2 81
City Lyons 0s
1 84
1 84
CNTIl '7
1 81
City Tarls 0s
1 091D
4.... 00.18
1 09.15
City Zurch 8s
1.... 102
1.... 102
CI'd Cln Chi A
Bt-Louis 4a
Ksale) 00
CI'd Cln Chi A
StL cm 4 s
8 89
3 OOU
Cld Cln Chi A
St L 0s
2 9B
1 04
0 04
Cleve B L 4 si
2 834
Colo A S 4s
3 774
Columbia Gas
A Eleo 1st
2 84
Cons'd Gas 7s
1.... 1014
5.... 101
Ksalo) 1014
1.... 101
Cuban A S 8s
2 00
2 00
Cuban C S cv
1 88
Cuba R Co 6s
1 004
Del A Uud cv
1 83
Denmark Con
ct B 8s
2.... 102
2.... 102
Den A R O 4s
4 .... 0TT4
5 0T
2 0T
Des Moines A
Ft D 4s
2 44
Det Kdl Co 0s
8 01
Det U II 4 4s
1 60
D Match 7a
1.... 104 H
4.... 104i
Do Canada '20
2 natt
1 03T4
Do Cnnada'Ui
1 80i
D do Nemours
Pwdr 74
1..
1...
1 .,
1 ..
8..,
1...
8...
6...
3...
2..
09
90S
90S
00K
00 K
00U
90S
00 H
00
90
Duq Light fl
1 04
1 04
Erie Gnl Lien
43 ti
Erie R R cv II
1 381.1
Erie R Co 4s
1 604
Erie Pa R 4s
8 744
Flsk Rub'r Co
8s wl'
1 90
4 00
3 00
Qen'l Elec Ss
1 87H
1 88
Gene't Eleo 0s
2.... 102
1.... 101
Goodyear Tire
A Rubr 8a
Int M ct 4 4s
22..... 18
20,.... 13
1 18
Interb n T fd
17 84
8 64
1 84
1 64
1...
1...
2.
1...
2...
0...
4...
8...
1...
83.
84
844
64
64
B4
64
84 T4
84
84
66
Int' I Art C Ba
4 78
I M Marine 0s
2 70
Iowa Cent'l 6s
1 08
Jap Govs' t 1st
1 88
Jap Oove't 2d
1.... 83
1 88
1 86
8 88
Jap Gove't 4s
8 00
Kan C Ft. 8 A
Memp 4s
1 08
Kan C A S 81
B 68
3 68
1 68
1 68
Kan C A 8 Bs
1 78
1 78
1 78
IC O T RlV 4s
1..... 78
8 78
1 78
Kelly SprlntM
Tire 8i
2 07
B 074
IC Belgium 0s
1 05
1 05
1 05
1 05
l(nale) 05
1 05
2 05
4 96
ft OR It
ft Relg-m T's
4.
8..
1..
1..
1...
102
102
103
103
102
K Belg'm rets
2.
1...
1...
1...
1...
8...
O
1..
102
102
101 T4
101
101
101
102
102
. 08
Kingdom Den
mark ct 8s
2.... 103
1.... 1034
1.... 108
3.... 1034
Kingdom Nor
way ct 8a
1...-. 1054
6. ...'100
1.... 100
1.... 1054"
IC Sweden 0s
. ... 102
102
... 1024
.... 1024
102
Oove't French
R 7 4s rets
6..
8..
8 .
1..
8..
a..
8..
28..
20..
4..
14 .
1..
1..
3 .
1
1..
1
1..
1..
1.
05
03'i
05
05
05
00
05
03
05
03
03
05
05
05
95 T4
05
05
05
05
05
05
Gove't F R 8s
100
1004
100
1004
1004
1004
1014
1014
100
100
100
Gnd Trk 0s wl
1..
!4..
1..
1..
2..
6.!
0..
1..
6..
1..
10
3..
..
1 .
1..
4..
3..
8..
1..
0..
1..
3.,
5 .
(I
0..
03
95
1)5
05
95
05
05
05
05
05
05 4
06
05
95
95
G'd Trunk
5..
1 .
fl..
1..
n
1..
104
104
1044
IOII4
104
104
O Nthn II 7s
3.
1..
2..
102
102
1024
1024
102
1024
102
102
102 4
102
Hud A Man fd
1 07
lit.. .. 07
1 08
1 07
Hud A Man In
7....
1....
1....
2....
1....
1....
0....
3....
1....
1.
80
R9
80
80
80
80
80
80
804
80
Lack Steel '23
1 06
2 00
Laclede O C
of St L 6a
1 78
Lake Shore M
S 4a -31
8 85
L Vnl en 4s
13 70
B 70
8 70
Lehigh Val 0s
1 00
L A Myers 7a
1.... 107
Lo Cln A Lex
ington 4s
2 004
Lo A Nash 4 s
4 834
Manhat E'd 4a
8 53
Mkt St Ry 1st
1 73
1 73
2 72
1 73
Maria' d Oil 8s
1 00
2 00
ptex Tefm 8s
1 90
Mid S A Or 6s
2 78-
1 77
4 774
M St P A S
Ste M 04a
8 00
4 00
6 00
1 00
M IC A T 2nd
1 41
Mo IC A T 4s
20 03
1 63
1 634
1 03
Mo Pacino 4s
2 B4
2 64
3 544
8 64
2..;.. 64
Mo Pao 6a '23
4 044
Mo Pac 5s '65
81
New Or Tex A
Mex 7s
1.... 102
New Or Tex A
Mexico 3s
2 50
N Y Ctl 34a
0 07
N Y Cent'l 4s
... 80
Cent'l Us
... 03 4
6..
N Y
1..
1..
I..
4..
1..
5..
03 14
11 a b
03
93 4
93
N Y Cent'l 7s
103
6..
6..
1..
1..
103
103
102
103
7..
1...
II .
1...
B...
2...
2...
3...
1...
7...
17.
44
44
41
44
44
46
45
45
44
44
44
III Cenl 4s '5
1 03
3 08
Ills Cen'l 6s
1 02
2 02
Ills Cen'l ii,i
1 . . 103';
III C Ht L A N
O Jt lids 5s
1 .... 84
1 .... M
1 .. . 84
6 . 84 '
1.. .. 81
Ills Steel 4 4
1 834
Intro Met 4s
IB 14
IB
( i
N Yk Light II
A Pwr 4s
1 00
New York O A
Weat'n 4s
1 02
1 02
N Yk Rlys 5s
2 0'i
1 0
N Yk Tel 4s
2 84 4
4 84 4
4 844
N Yk Tel'e 0s
1 904
8 004
8 90
4 90Vj
1 90
Nfk A Wn 4h
8 79
North West'n
It Tel'e 7s
2. . 103
IO314
103
103
103 4
1034
103
103
N Pacific H 3s
I . . . 67
1 68
N Pacific It 4s
5 .... 77
1 77
1... . 77
1 77
N Pacino R Os
I ... 102
Nth S Pwr 6s
1
82
83
Ore A Calf Si
1 08
Oregon S L 4s
1 88
1 '70
Pao Pwr 6s
Pacard Motor
Car 8 s
1 07
8..'. 1. 0T
ra RR 4s '48
2..... 81
Pa n en 4s
' 1 874
Pa R gm 44s
B 81
Penna R R Bs
1 80
1 80
2 80
Penna R 0s
1.... 100
0.... 101
,1.... 101
Penna R R 7s
. 2.... 104
12..,. 103
8.,.. 103
Peop Gas L A
oal 0 s
1 70
Pere Marot Bs
0 824
8 82
Phila Cnty cv
1 08
8 08
Pitt C Chi A
St L a Bs
2 83
1 854
Reading- Co 4s
2(sale) 77
Rep Chile rets
1 08
!.... 08
1 08
2 08
1 08
1 08
R Cuba 44s
4 00
1 08
R Cuba 6s '04
1 77
2 78
Rep'o of Uru-
guy 8s wl
6.... 100
1.... 100
6 00
Rock Il'd A A
Lout' a 44s
4 70
1 70
St L I'n Mt A
S'n Rly 4s
l"..... 78
St L l'n Mt A
S'n Rly Bs
Ksale) 75
StL I Mt A 8
R A O dlv 4a
St P'l A Sioux
City 7a
1 03
1 02
Sao Paulo of
Bratll ct 8s
B 08
B 08
1 OS
Seab'd A L aj
2 204
8ab'd A X" 4s
1....I BBH
Seab'd A L 0s
1 48
1 484
9 48
Sinclair C Oil
Corp'n 7i
8 02
2 02
'8 03
23 03
S'n Bell T 8s
1..... 84
3 84
S'n Paclfla fd
3 7BH
8 78
3 76
S'n Pao cv 4s
1 884
4 88
Sn Pao Term'l
1 78
Sulh'n Rly 4s
1 60
1 694
8 80
Suth'n Rly Bl
6 80
Stan Mil C Ba
8 ST
kStand'd Oil of
Calif 8s
7.... 104
1..., 104
0.... 104
Swtt'd Con 8s
8 88
1,... 100
1.... 106
Tenn Cop'r 6s
3 88
Third Ave a
42...
8...
1...
2...
1...
1...
1...
1...
16.
2.
6.
1.
2.
71
734
72
72
72
St L A S F aj
60
60
2..
6..
1..
6..
8.
00
00
00
60
00
St L A S F In
1 87
8 88
8,.... B7
St Lo A S Fr
Series A
6 03
Bt L Sow'n en
3 60
1 00
St P'l A IC C
S L4s
1 OS
Total. $0,043,000.
88
89
80
80
80
80
80
80
Tidewater Oil
Coct 0s
1 0T
1 07
Trl Cty Rly A
Light Bs
2 04
Union Pao ov
2 87
6 88
Union Pao fd
1 78
Union Pao 4 a
1 82
1 824
1 82
8 88
Union Pao 8s
1.... 100
U IC Grt Brit
A I'd 1021
8 00
U IC Grt Brit
A I'd 1022
23 08
8 08
2 08
8 084
U IC Ort Brit
A I'd 1029
1..
2..
1..
1..
1..
1..
80
80
80
80
80
89
V IC Ort Brit
A I'd 1087
1 80
B B0
1,.... 80
0 89
U 8 Bratll Ss
..., ivu
2....
1....
1....
8....
1....
2....
8....
3....
1..
1..
8..
2..
1..
6..
U 8 Msxlco 4s
0..... 80
U 8 Mexico Bl
100
100
100
100
100
100
100
. 00
100
1004
100
100
100
100
63
63
88
B3
BS
83
63
68
82
B8
63
82
1
4,
0
7
1
!
'6
8
B
7
4..,..
8
U S R A I Bs
8 88
1 88
U 8 Itubb'r Bs
1...... 70
U S Rub 7s
1.... 100
8.... 100
U'd B ateel Bs,
B 04
B 04
Utah Power A
Light 6a
1..... 82
Va-C Chm 1st
1 02
Va-C Chem 0s
1 80
Va-0 Ch 7s
1 02
1 01
Va Rallw'a 6s
2 84
Wabash R 1st
2 80
1 87
Wash Cen 4 s
1 08
Wash Pwr 8s
1 87
West'n Md 4s
4 64
1 B3
3 84
Wn PoclOo 1st
6 81
8 81
West Shore 4s
1 74
1 78
V U 6 wl
8..
1...
1...
1...
2...
1...
8..
100
101
100
101
101
100
100
West'li'e Eleo
A Mfr 7a
1.... 103
1.... 103
Wilson Co 1st
4 87
1 87
2 87
Wis Cent'l 4s
1 Tl
V; C Sup A D
dlv A T 4s
S 70
872,000 yesterday.
10,UUU.
compared with
Thus far this week.
$14,.
183.-
Philadelphia Markets
WHEAT Receipts. 100,681 bush. Mar
i...Q.ulet And 2o lower. Car lots In export
elevator No. 2 red winter. $1.8101.80: No.
- "d winter, garlicky. $1.1791.22. 6ther
Su.i'if ,QVotS?. ai ,he following; schedule of
dltcounts: Mixed wheat, Oo under red win
ter; No. 8 wheat. Sc under No. 2; No. 4
n-H.Vvl0 .Vn1y No,' 2i No'. wn-t. o
nnnM't?' Sample according; to quality.
CORN Receipts, 8007 bush. Quiet but
vJ oy nhnJ?A. Ca. Iot" ln export elevator
No. 2. poOTc: No. 8. 03(81040. Car lots
f0M??2l if1"18' f0- 2 yellow. 7B07flc.
OATS Receipts. 0803 bush. Trade alow
5,far.V!.ralJ!o"i..Ca.,0,, t0 location
Ntk,awy,V,8fl0c: o. 3 white. 40047c.
FLOUR Receipts. BOO bbls. and 2,041,208
lbs. tn sacks. Quiet and showed little
chance. The quotations follow: For 100
bs packed In 140-lb. Jute saoks Soft win
ur straight Western. I0.50O0.7S: do, do.
tnr A06'30:- h" wlntr- "tralght
nIliU?i7.-7?! d.Ali.r,i ent. $8518.25 spHni
J)r, olear. 1707.25; do. patent. $8.75
0.1O: do. ahort patent. $9. 2509,60: fancy
,8riWfefJ?,LcUy,,n,"l tnt. family brands,
19. 75010.60. Rye Hour. $7.5007.75 '
tln1nI.l.'V,1,SIOfa-S.ta1J' but quiet. Quota
i'?o V,..Veeif-.,ni.,l"u' mokel nd alr-drled.
6rcuRee.f'.Snucllea anl tsnders. smoked and
a,',r-1le?' WA- fmlly. $43; hams. 3. P
oujfd. loose. 27 20c: do, skinned, loos?, 20
082o: do. do. smoked, 81 84c: hams, bo led.
boneless 63cs plcnlo shoulders. 3. P. cured
SS:!' Vt d0' TOokat 17ci Wl". in Pickle
1 uilTTFnVMkf'" bac?n.' -8oV a"l. 134c
Th. T5n.TMarket l"'8' a"l unohanged.
J.h-1-i,uolaUon" a-ro a follows! Solld
5atkdjuamo.r' !Bncy- high-scoring; goods.
ir.48d:..the .,a,tV ,or Jobblnr sales
lYK!i 4SCI extra nrsts, 42048o; nrsts,
870890! seconds, SSOaOc: sweet creamery
Snlce to fancy. 47 4494c: fair to gSod
404 0404c: fancy brands of nrlnts ".?
A'JF.A.F800 '"' t0 chol?e.n60OB7"
EQUS Fine eggs scarce and nrm at lato
advance. The quotations are as follows:
Nearby extra nrsts, 42c. nrsts. 41c: vet
em extra flrsts. 39040c: nrsts aVoaSc
h?Sf,nd!i. 20J31c: Infsrlor' lots T low??; Jog:
ai?5 ,a ",of lancy and'el fresh eggs, 83 O
64c; fair to choice, 47082.
CHEESE Firmly held. The quotations-i8iwYk-.,wh5l8,
mllk "a"' fancy, fresh
TinC..dg-fr..'hr ,0 2l04V3rftV?.ng?
fDaanVroc&.fc"ci '8 o?
LIVE POULTRY Fowls, not Leghorns
fane! f". welghln 5 lbs. apl?ee and ov??.'
HW.34?: medium, 288no: Inferior, 24020o.
white Leghorn fowls, 22$24c: sprinc chTcS:
ens. brollors. not leghorns, fs.ncy? yellow
n"nnSd.;fj.,w.;lKnln? 3V?to8 bs? apece? pe7
.iwii?3.3 .wclh!nr 12 lbs. apiece.
u., uui ;naiier sizes. 23025c; sprlna-
niece. 24 020c; do. do smaller sixes? 22
Fik n VS1".""' V"18c: ,duck' wn"e
Si-'i1' 22J,C: mixed colore, 1820c:
&80c r' ' 35O40oi 'oun' 25
DRESSED POULTRY HViwI. t,...
killed, dry-plck.d. In boxes, weigh" 8 "bs"
apiece, site: do. weghlni 4 lb! ibm hI'
wBeJffh'ns; 34 lbs.. Sic" 35. wefthlncTlb, '
-?30c. Fowls, freeh-kllled. In bbls.. afi.
Picked Weigh ne 4 OS lbs anlece ,!rv
packed 3,1e; do. welgWnr 4 OB Ks'aplice
Re'Pdn iJIV ,lni ,w"n,n 8 lbs.. 2)&
;'6c: lo. uplghlna- 8 lbs nnd under. 224c.
roasting chickens, Western. welKhlnn 3H A 1
lbs. uplece 300.12c: brolllnc chlckunM v.i
ern. weighing 14 $2 lbs apiece Sofia",!"
fry nB chickens. Ve.tern SehThl'iiB. 4?f'
3 lbs apiece. 2327i: rnastlnir chicken.
"rjf'V. "lKhln 3 4 04 lb. "apiece 320
35c: broiling chickens, nearhv welghlnr 14
112 lbs., nnlece. 31 Hie- frying chicken.
"K;.rb wol!lnK 2 lb i. apiece 27
fe! ?id TS"lt"- ''"-Picked, Western. 21o
do do. Southern. 1920c: ducklings. 27
LOCAL MINING STOCKS
TONOPAH STOCKS
Cash Boy nid.,
Jim Butler ... (17
MacNamara ' '14
.Midway ,,
Mlipah Ext " ' ; ' nil
Montana nY
North Star , .... "na
llescue Eula .,,.' V0
Tonopah Ext ' ij.
West End Jl
West Tonopah q's
DIVIDE STOCKS
Allied Divide
Alto Divide
llelcher
Helcher Ext
Hen Hur ...... ..!... .
llrouKh Divide
Divide Ext
Divide Con ..,.. ...".
Dlv'dend
Kast Divide '
Harmlll
'.''"brouck Divide
High Divide
Knox ,
Hevert Dlvldo ! .
Heno Divide
lloseta
Hllter King i:;.'.-
Sutherland
Tonopah Divide
Tonopah llasbrouck
Victory Divide
Verde D'vlde ...
Zono
Ask
,05
.111)
.11)
.10
.13
.07
.0(1
.03
'.8
.00
.01
.02
.01
.01
.05
.24
.02
.02
.01
.12
.01
. . . .(ill
... .02
... .01
... .01
... .Ill
. . . .02
... .08
. .. .02
... .01
. . . .(.
08
OOLDFIELD STOCKS
"'"111 v
..,,.. .-inuituil
1 rackerjack
Dlnmondneld Blue Bull
Florence .
(loldfleld Con
Oold riev
llotdflcld Deep
limit HerM .... .
Jumbo Ext
Kewanus
Lons Star ...
uro
.01
.02
.311
.(HI
.02
.111
.III
.03
.III
.02
Ited lillf." " " " ' -11
ijllver Pick ., M ,09.
.02
.03
.02
.02
.01
.118
.211
.03
.03
.02
.14
.02
.01
.11
.03
.02
02
.11.
.03
111
.114
U2
.03
.09
.03
.02
.04
.111
.11
.OH
.113
.02
.02
.0,1
.02
,n:l
.01
4.110
.11
' we cflMfccrsiS
i ,"' B i
-. o. noaore company Will uf.iiV
$340,000 Superb ."'l'1
A contract for the erection t
Bupentructure of the nrnnn..", ?. the
nut Htreet Pier nt tin a S?Mt
Wharves, tens lgncU tod.XBol
Mnfror. hoontract cnlls forr fr th
pendlture of $340,000 nnd wn. .th8 ?
to J. S. Rogers Company. " Rward
signature'. .Flrf, & I RuVrfordW.0'
rccolvcd contracts for sss rrb Inci
$48,000; Acchlene & cJnuwS H
a $40,200 contract, and Vo1""
Flanagan received ' one fj10 A
worth of work. o0,B00
l
I ' ' ZZJ"'!J" -
j?Gsbbbbi esTssWs'sTessTsTsssssssssssssgi
ei-
Spruoc 8200
BOUGHT SOLD QUOTED
UniteFstates
government
securities '
, All Issues
GECunntEa department
commercial trust
Company
Member Federal Reserve Ryat(n
City Hall Square West
C. S. PATTOiT&TOri
BAWfk8"-
. Jtjcetioris to
SAILER STEVENSON
BbB.nrd. 5iff.ta-teS!hi mm
---" " . i.irniwrs
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
1650 UEAL E8TATE TRUST Illjvi
Investltate and adjust corporatlonVM
TarxUnet!lrn?C:0Un,, "n1 Kwn '"
FINANCIAL
J I
UVU COJU'ANK 10-YK,R OOfc RlTn
FUND GOLD DEI1ENTDRE nO.YDsT
Notice Is hereby given that pursusnt i
the slnklnr fund provision of trust indntm
dated May 1. 1910. proposals will iff 2
celyed at the office of Commercial Trust
Company. Trustee. City Hall Square. FhXi
delphla. for the sale to the TruitM m
November 1. 1021. of a sumd.nt nurnkj?
of bonds to consume the sum or I ISO lis i
In the sinking- fund at a price not to eic3
par and accrued Interest. The rlrbt ti
reserved to reject any or all proposals la
whole or In part.
Proposals should be sealed and marked
"Proposals for the sa'e of Sun Company 10.
Tear Oft Sinking Fund Oold Debenture
Bonds." and be presented to the unsir
slsned before II o'clock noon, on Wednesdsr
September 28, 1921. '"'
COMMERCIAL TRUST COMPANY. Truilie
HENRY C. Oinso.W Treasurer.
CLE.R SPRINGS WATER COMPANY
NOTICE
Bondhslders unler mortgage of the Clssr
Sprlnrs Water Company, dated Auguit 1.
1012, are notified that the Guaranty Trait
nnd Sate Deposit Compuny, trustee there
under, now holds sinking fund of I2.0J9.25,
undor the terms of said mortgage, for pur
chase of said bonds, at lovrost prices offered,
rot exceeding 101 and accrued Interest. Of
ferings rscelved by the undersigned on or
before noon, September 23 1B2I.
OUARANTEB TRUST AND SAFE DaV
POSIT COMPANY
810-018-320 Chestnut st.
Phllad-Iphla, Pa.
Dividends
AMERICAN FOWElt li LIOHT COSirANV
Tl nroadway. New York, N. Y.
PREFERRED STOCK DIVIDEND NO. 41
The recular quarterly dividend of 1H
on the Preferred Stock of the American
Power A Light Company has been declared,
payable October 1. 1021, to preferred stock
holders of record at the close of butlmtt
September IT. 1021.
WILLIAM REISER. Treasurer.
Proposals
DEPARTMENT OF PUBLIC WORKS
BUREAU OF HIGHWAYS
Room 282. City Hall,
Philadelphia
FRED C. DUNLAP.
Chief of Bureau. Sept. 12. 1921.
Sealed proposals will be received sal
opened ln Room 210. City Hall, at 12 o'clttk
noon, September 23, 1021, for:
ORAD1NO. , . ,,
ASPHALT PAVINO (assessment work).
VITRIFIED BLOCK PAVINO (assessment,
work). ....., T.,rJ
rvn
SMOOTH-DRESSED
SMOOTII-DRES
PAVINO (assessment work).
SMOOTii-uucaatiu
REPAVINO
CRANITE
irk).
GRANITE
BLOC
BLOCK
olfB-PT inplllT.T nEPAVlKQ.
REDRESSED ORANITE BLOCK Bl-
I''r3lMOLITION OF BUILDINOS ON LINE
0KFUD.fNiANn0B ANDNUAPPLTINO BITU
MINOUS MATERIAL. ... -,,-
FURNISHINO AND DELIVERIN0
BROKEN STONE.
P'lSFlI DARNDrDSELIVER.NO MC
Wisinn'deliverino m-
TOR-imiVEN ASH TUCKS (0 cublo yds.).
FURNISHINO AND DELIVERING PACK
ARD OR MACK MOTORTRUCKS (5 ton).
FURNISHINO AND DELIVERING HOLT
CATERPILLAR TRACTORS WITH 6N0W
PJFURNIRHINO AN'6 DELIVERINO MOTOR-DRIVEN
STREET SWEEPERS.
i'uRNISHINO AND DELIVERINO SM
n(FURNiSHINa AND DELIVERINO LUM-
""jRNISHINO AND,. DELIVERINO CE-
MBrNuVii?rtaPBMDDiSitiN0
D FNIIOND DELIVERING
PAINT" TOANK " YrSlr.
Inquire at Room 232. City Hall
SEALED PROPOSALS WILL RE I BR.
celved it Ro)' 216. City Hall. unU" 1
n'cVocli noon on Frid'iv. September 30, 1M1.
end openod at that tlmo In Room 210. City
"""SCHEDULE "A"-MA1N SEWERS
AMlDlLi: ST. between the present tr-
mlnuVni Front st. nnd Flihr si.
ERIE AVE from R st. to Phlladrlphla anl
PA'cKBn'BTbiwen 221 st. and P.nro..
place, and In Moyamen-lnr avc bstw.
Pcnrosi place and Olnrado st. (8th sUi
PACKER ST between Tenrose place ind
PCHEDULE "R-'-RICONSTRUCTION
NINTH ST. J"H$ftVH'C'T "
Seers In DELAWARE AVE. between Sny
dcr avu. and Hlgler st.
fcU. at -"' ANhVcAVEN,
Director.
EASTERN MTATE PKNITENTIABV. tIBt
and Falrmount avenue. Phi UaslPnU.
i.,ivnla Sealed proposa It will bs Tf
celvf at the ahove-named Institution unl I
12 o'clock noon. Friday. September M. Mil.
iharjes, lit such times and In .such quiB
J?etVon l.Br.,hVldof oWpVc 'Th. 'J;
S" '"'"r'obert""; '"c'lTY. Ward..;.
Under terms of-the SlnklriK ru,n0'M"g,p.
proposals will bo rece ved until 8 "tfw
L4bnodndVM'ffl jywsssisA
rViEKsrNWVayANTFO
N8v,,RAANNTVNorEsA;D
Tend,r.7fc?sVn,k,n.BFiDrdhc:mbP.Vcoun.r
Coal Co, rrr "
I'AKTNKRHIIII'H -.
NOTICE IS HEREBY GIVEN TII.W ' J"
partnership h.retoforo "Istlnr h'l";j,1
riturles Liiner und Harry llrck, er 't
rrs and contractors tradlnif as th lines
Kiuer i Co.. his been dlssolvod ns of S
1021 uy muiu.. . l'JtXVEa.
HARRY HECK. ,,
tsmber 0
iir
COWARD J,
Attorn.
MINOEY. Tj
,,
; '- 'W
js&ik-...
,. rv.-
ry tt K