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AeN
bTMi-
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f
EVENING PUBLIC LEDOERPHILADELPHIA.l FRIDAY, ':fDNg't9, 1922
IV
r.' fii- ntiiT
rtb '
ft
1ft
IIs
2
F(KM
t:'W
it
AIHBI ys
Bends
L Information con-
- tained in our June
' Circular should
prove of value te
- the investor.
A copy, giving prices
and descriptions, will
he sent upon request.
TheNatienal City Company
Fhtlaaefptila 1417 Chestnut St.
Atlantic Cllr Clialfente Black
1225 Boardwalk
ANOTHER LISTLESS
IE
DAY N TH
MARKE
T
''elume of Trading Was the
Smallest Recorded for
Seme Time
x
New Yerk. June 0. There was a
ltlei barking and fllltne; In today'"
nek market, reflecting a still fur-
it s'arkenlnn of speciilntlve energy.
!nslnes wns very light, compared with
rent newlnna, with about an even
'nnee bet u pen buying nml felling or-
'ri. Cliitlile of a llinltel number of
bviire snr. prb'e Winners In con-
equcnee, were lncenwiiucntl.il.
V.. better I luifratlen nf the apathy
if the market could be given than fbe
iiuplete Ignoring of citsy money rates.
I'lils generally mipplles n vtlniiilui when
lit ether element full. Wall Street
'ins net In many month experienced a
'I per rent fenewnl rate for call mene
it the week-end. Such n rate ttilc
, nernlng evidently offers) little lnrcn
Ire te the trnilers en either lde of
the mnrket. The develnptnetitH In the
Oerman rrpiiratlens hltuatien and the
'trlke talk, en the ether bund. eemi"t
e In tcii'-if the Inertia of the trndlng
Tax Exempt
Rrwirlc fnr Tntrpermpnt element nml perhaps n further net en-
senas ier investment .,,,, I(J ,,.; 'f thl. !lmth, of thc
During the past 12 months
prices of bends free from
all Federal Income Taxes
have advanced te such an
extent that it has become
increasingly difficult te
cheese these which provide
satisfactory return.
We will be glad en request
te submit recommenda
tions of bends that are ab
solutely exempt from all
Federal Income' Taxes and
yield 4.50 or better.
Hemphill, Noyes C$ Ce.
MemAere ffeir Yerk Sleck Etching
Franklin Bk. Bldg., Philadelphia
Maw Yerk Pittsburgh Boaten Scranton
Im Anitlri Albany Syracuse Daltimere
WilmingteD Bridgeport
Special Service
in
Ohie Securities
Members
New Yerk Bosten
Cleveland
Detroit Chicago
Stock Exchanges
N. Y. Cotten Exchange
Chicago Beard of Trade
Extensive Private Wire
System
OTIS & CO.
Cleveland
New Yerk. Bosten, Detroit,
Cincinnati, Columbus, Teledo,
Akren, Youngstown. Denver,
Colerado Springs
n-i'alled nubile,
Considering the nbxenrp of any defi
nite leadership and the lack of stltmi
lntlni: new the market an a whnlu
I "live n pr'tf fair account of Itvelf.
I Week end desultory cohering of the
I Hherf Interct fiirnlsbed an tiniWljIn','
support, but the natural tendencj of
the main fault of teckn wn te react.
I There were at Interval special move-!
I incuts In selected groups, tine of these
I were tie sujsnr iliarcH, which were
' - lll... I I... .1 1... I. .!.(
Jljiil e (nilllfllini uj uir iiiiiiinK". tit iii
and refined product. Other selected
demonstration Included such ob-cure
share as lu Pent debentures. Iteming Iteming
ten Tjpewrlter. Fairbanks. MnlllK-m.
Sterling Products and National Drug,
thee gaining 1 te .' point. Demestic
oil. Slnclnlr and Marlnnd excepted,
were reactionary and the se-called
merger Meel appeared te encounter
frci-h sidling prevsure. The rail con
tinued te fa- held In check by the strike
talk.
Commodity Markets
GRAIN MARKET
Chlrae. June ft. The wheat trade
nlnceil n bearish lnternretatlen en the
(Internment report figures and, a there i
va nothing of a bullish nature In the I
overnight new te offset It effect, the
market opened weak at Mje te 1c decline
and during the early trading neweu
further lesse under active celling. The
Liverpool market declined ?l. Thvre
were no evidences of expert buying.
Cern started K te '(.c higher en
firmness abroad and buying by comml cemml comml
sien houses, ami held met of the
sain, despite the weaknc In wheat.
The crop figures en eats were bear
Mi and. after an opening decline of
i;,., the market showed further losses
under active liquidation.
Prevision were lower at the start
en a decline of 10c te 1Tm in live
hog, but rallied en covering
C.irn Prevmii tin"' ""';
lu'
pt. ...
tvritat
lul ...
'Pt. ...
De ...
Oau
July ...
pt ...
r-. . . .
Ue
tuly ...
SfPI. . ..
Lara
lul) ...
.Pt. ...
n.
1.14
1.131
l.inw
41
11.I0
11 T
ces 9
4l
I2S
l.ltHV 1.13
1.13
l.in
34
4nv
01
11. R5
11. ST
11 A. M.
m
14V
24
1.1SU
1.13V
1.10
suv,
ssv,
40S I
90'4
y
Georgia Railway
& Power Ce.
Bends
All Issue
Bought Sold Quoted
Elkins, Merris & Ce.
Land Title Bldr, Phils.
Mambrra
Naw Tork It Phtla. Sleck Cxchaeea
We 8ugge8t-
Vs
Municipal Service
1st 5s, 1942
Fr of norm! Incem tax.
Panna. State tax refunded.
Earning erar 4 '-a timaa in
teraat chargat.
Price te Yield Over 6
tsafi',.
mix-V--mim
ill;
WBr I
LaHaU f ifP
vi
F. P. Ristine & Ce.
Hambara rhllaaVlebU sua
naw Tan warn r.irbaaira
COTTON MARKET ,
New Yerk, .lune 9. The cotton mar
ket opened steady, with January con-
I tracts 3 points higher and ethers 2 te
14 points lower. New Orleans inter
ests and the trade were the chief buy
ers at the start here. Commission
heue and Japanese Interests sold. The
weather In the belt was somewhat un-
1 settled again and regarded as slightly
unfavorable.
After the opening the market turned
strong and advanced nbeut 30 points
ever Initial levels en continued support
from the Seuth, presumably based en
bad weather news.
Prv1nua
Clet
July 21-5
'Ocateper itJ.M
December 21.43
, January zi-ii
March 21.13
nfw YORK COFFEE MARKET
New Yerk, June fi. Disappointing '
cables received from Drazil promoted
liquidation in the coffee futures market i
here, although trading en the call was I
of small volume and prices one point (
high te a decline of three points.
l.irk of interest during the late i
forenoon brought about further declines
of 4 te 0 points, September working off
tn ift.lfc. In the cost and freight mar- I
Vtet there seemed te fa no disposition
te offer coffee en any cheaper basis and
these early today were practically un
changed from yesterday's offerings.
Pravleua cleaa Ocmnlrta
...i.. ... m.Sl lfl.dO
r11" AO, ,AAr,A
SapttraMr s:. nn, Ni'SVV
1
Opan T.M.
2t.3B 22 00
21.40 21.91
21.43 21.82
21.40 ....
21.13 21.33
.. 10 24 10.2ffin.2T
rw.mbcr Miff . v.vin v us
u.reh ......... HTltr H.75 B 711 U
JUy
0 80
9.579 8,09
WMeaer Bldi.. Pkiladalpkia
Naw Ynrk Kllaabath. N. J.
WiiHliiiiiii'iimiiiiiiiiiJ
Meney Wanted
en Mortgages
Oar aaeeraa Id plartni aaaaay a
aaarteta ha braatbt ta Ua pa.l
Maa where we aew haaa mar. high
ataae aapllratleaa far leaaa than wa
aaa !!. If yea have money te place,
Wf tea ba af aarvlre te yea.
aemanitattTa will al1r rati.
HOME COMPanr
aaaa rhaataut Ht"! (Hall. Preatea 1800)
nr i i""if" j
NEW YORK STOCK EXCHANGE TRANSACTIONS
Ulv,
In t STOOK Hlsh
. Adam Kttren.... 63
3 Advance Ruraely pf SO
. . Alsx tlllMier 7H
.. Alnska Oeld Mines, H
4 AIIU.I Ch'in A Oye '0
4 Allls-rhalmer M
.. Am Arre Them.... 0V
Am Agrlc Cnem of. 67 Ji
.. Am tiet Snesr. ... 9
i Am n She IMy new. 5814
.. Am Cnn 9
7 Am Car Ik F.ly pf. .121 V
.. Am Chlcl II
.. Am Prug Syn 5J4
I Am V.xprtu 137H
7 Am Ice 106x4
'. Am Internal Cerp 8
' Am I.n Frsnca Eng 13
Am t.lmeed... 37
(Am I.oi'emotlte....114M
7 Am Ixicometlte pf. .115H
4 Am mdlnter 99
.. Am Siftty Hixer... 7!i
.. Am ."Mp Cem.... 23 14
.. Am Smelt f2H
7 Am Smelt pf SBy,
I Am Stel Keundrlea 3B
.. Am Sugnr lUf.... 81
-. Am SuniMlr.t 0H
6 Am' Tel A Cabl 60 "4
Am Tel A Tel 123H
1 1 Am Tobacco 1 43
1 Am Tobacco II 140
.. Am Wntrwka tr. pf 34
7 Am Wntrwk. ",r, pf 81
7 Am Woolen 94H
.. Anncenda Copper. . . 5414
.. Assets Idealisatien.. 2 Ji
8 Asse Oil 120
Atch Ten San V" 99ri
B Atch Tep & H V pf 91 V4
7 Atlas Powder ....136
.. Allan nir Atlantic 4H
7 At) Rettnlng pf....t6
.. Atlantic Fruit 3
.. All Clulf A W I 3 S 39V4
.. Austin NMchea .... 32 K
7 naldwln Wcotnetltal 15U
7 Ualrlwln tce pf ..112
.. naltlmere A Ohie.. 49 J4
.. Balepllaa .Arinlng.. 1 ii
8 Ileth Steel H 78
.. nrlt Km Steel Id pf 34
I Hroekbn 1-M'aen ..107J4
.. Ilkln ILipId Transit 2b Vt
.. Ilkbn nTctfsef.lt. 2214
.. llklyn Union Gai.,118
.. nrunswlck Term .. 5H
1 llurna llres H .... 47
.. Butte Cep & Zinc 714
.. Dulte A Sup Cep .. 31
.. Butterlck Ce 26
.. Cadde Cn OAR.. 134
6 California Packing 77
.. Ca' I font a Petrel .. 66y4
.. Cal Zinc A Lad .. 9H
10 Canadian Pacific. . 13714
.. Case J I new 8M
.. Central Leather pf . . 7'V4
.. Cerre-de-Pasco .... 384
6 Chandler Meters .. 76
4 Chesapeake A Ohie . 66 H
.. Chicago A Alten . . 11 H
.. Chicago A Alten pf 19 H
.. Chicago A Or West 914
.. Chi A (ir West pf. 2214
.. Chi M'l A St P .... 2614
.. Thl Mil A St P 1. . U
6 rhl A Northwestern 714
7 Chi A Northwest pfl!3
4 Chicago Pneu Teel. 8
.. Chi R I A Pac 43H
( Chi R 4 A Pa pt 2
T Chi R I A Pac T pf 96
7 Chi St P M A O pf 9814
. . Chile Copper 21 M
.. Chlne Copper .... 31 14
5 Clef Cln Chi A S I. 68
4 Cecn Cela 68yt
. . Cole Fuel A Iren . . 33
5 Cel A Southern .... 4754
4 Colerado A Se 1st Pf 62
I Celum Gaa A KI'C. 67 H
.. Celum riraphophene 5
.. Cel Graphophene pf 18H
( Cemput Tab Itec.. 68 V4
. . Consei Cigar 33 54
7 Consolidated Gaa ..120ft
.. Consei Textiles.... 1214
4 Cern Products llef.1061
Sales
600
tee
410
200
10J
100
630
tee
1405
100
1213
100
103
103
100
4)0
14)0
100
100
12X1
ted
tee
813
7'0
7J3
6)0
100
3501
100
100
700
800
203
100
100
1000
4100
SCO
100
330
100
100
4'JI
100
4700
900
633
2400
100
1600
100
1400
100
500
. 900
530
1100
1100
1530
1200
100
300
410
100
2403
2403
500
5703
100
100
100
103
100
100
403
100
200
100
200
100
100
tee
100
100
100
4030
1230
100
100
100
400
tee
200
830
100
400
100
5910
2810
1200
10200 24 Ceaden A Ce
2200
9700
100
7510
FOREIGN EXCHANGE
New Yerk, June fl. At the opening
the market for foreign exchange showed
declines from yesterday's finals as fol fel fol
eows: Sterling, 'i! f ranci-, 3; Bel
gians. -"4; lire. U; Swle, 1- Span
ish. 1: Danish, 2: Norway, 7, and 5
each in Sweden and Dutch. Marks, ou
the contrary, were up .
Quotations were:
Sterling cables 4.40, demand
4 4S'i : franc cables 0.(17. checks 0.06;
Belgian cables S..'1M. checks S.37Vj!
lite cables 5.10, checks S.lSVi; Swiba
cables 19.15, cheeks 10.12; peseta ca
bles 15.M. checks 15.81 ; Danish ca
bles 22. checks 21.05; Norway cables
17.63, checks 17.58; Swedish cables
20.05. checks 26; guilder cablee SO.fW,
.checks 38.08; marks .34.
TKSTKBDATS CLOSING QUOTATIONS
Demand 4.48S .1., .1 TO.OO
Tablea 49 9.10H S.SOK .0
TODA.r8 OPENING QUOTATIONS
I Sterling Franca Ura Qulldra
Demand 4.4SH 8.00 5.1SH 3S,
Cable? ..:... 4.49 4. 9.0T 6. IB a 0J
MONEY-LENDING RATES
NEW YORK Meney en caJI. both cleeeae
6400
210
100
233
100
300
230
200
100
2600
100
2200
1103
103
2200
3400
100
100
3400
100
100
200
tee
1300
1100
200
3930
100
100
200
100
1300
900
100
3900
tee
200
700
1400
2030
1500
100
100
100
400
100
100
103
400
100
330
1200
300
1700
400
100
200
900
200
1200
100
480U
2200
100
1400
100
100
700
700
52
Crucible Steel 76 K
. Cuban Am Sugar .. 26 H
7 Cub Am Sugar pf . , 92
, Cuba Cane Surar .. 19
. Cuba Cane Sugar pf 384
. Debeers C Mln Md 72,
7 Detroit United Rwy. 63
( Du Pent (E I) Ce 1 32
( Du Pent 6 deb pf U
. Duluth Se S A At .. 5J4
I Kastman Kodak new 74
1 Klect Storage Hat.. 44',
C Endlcott-Jehnson .. 824
. Erie 16
. Erie 1st Pf 74
. Falrbank 20(4
t Famous Players L.. 84 J4
, . Flsk Rubber 17 14
Freeport Tezaa .... 25 J4
. General Asphalt .. 6514
a On Baking Ce 109
( General Cigar 76
,. General Meters .... 14 H
t Gen Met deb .. 3
. Goedrich B r .... 42
7 Goedrich B F pf .. 8914
. Granby Mining .... 31 H
1 Great Northern pf. . 77 H
4 Great North Or aub '40
,. Green Can Cep.... 33J4
. uuantatiame Sugar. 13 H
Gulf Mobile A North IBM
,. GuU Mobile A N pf 38
,. Gulf SUtes Steel ..6214
,. Hablrshaw KlectHs. 1 J4
t llartman Cerp .... 87
, . Housten Oil 82
1 Hupp Motorcar .... 19J4
,. Hydraulic Steel ... 13
... Illinois pf w I 107
. . Indian Refining .... 10
, , in Jlahema. Raf .... 4 14
, . Inspiration Cen Cep 4314
. . Inter Cens Cerp.... 1 J4
.. Inter Cen Copper pt 3J4
. , interbore Rapid wl. 29 ft
, . Inter Agriculture .. 10 J4
8 Internal Cem Eng.. 244
. . inter Gt Ner'n w I.. 22 j,
7 Int Harveater nw p. 11314
. . Int Mer Marine ... 23 U
( Int SJr Marine pf. E34
.. International Nickel 1714
6 Internat Nickel pf.. 80
. . International IVpar 51
.. invlnclbU OU Cerp. I854
.. Iren Product- 34
.. laland Oil 1 14
,. Jenea Bres Tea.... 4414
.. Kan City Southern. 26
. . Kansas Gutf .... 4
.. Kayser Ce new .. 444
I Kayser Ce new pf.,10614
. . Kelly-Spg Tire .... 51 '
t Kelly-Spg T 1 Pf'04
. . Kennecett copper . . 37 H
.. Keystone T ft 11 ... 2PH
Kresge S S 13BV4
,, lacka wanna Steel .744
.. Laclede Gas of St I. 80)4
.. Lake Erie ft West.. 37'
. . Lake Erie ft Wait pf 56
Ta Rubber 3H
Ixiw
62
50
164
M
70J4
0
39H
67 J4
48
58 14
49 )4
121 Va
11
5J4
1374
107 H
4714
13
37
114
1154
99
7H
22K
82 M
i74
38
80
404
6014
123H
142
139H
34J4
81
934
54
2H
120
9 J 14
9U4
136
414
116
eH
3914
3214
114H
112
49',
1"4
77 J4
34
107 i
26
22 H
114
5
4614
74
31
16
134
77
4f4
iV4
13714
6H
7314
3814
76
6be.
11 X
1914
914
2214
26H
42'
7514
113
68
43J4
2
S6
98l
2114
?0H
68
'8J4
33
4714
62
b7H
S
18H.
6BJ4 '
3314
119K
12
10414
504
76
26'
92
1814
37 H
2214
63
132
82
514
74
44'
i:an
P. r.
63
50
164-
H
70V4 -50
49
11
5H
137H-
108 4-47yi-13
37
114 -
1154
99
97H ,
3. -81
12314 4-
142 -
139M
4-94H4-54
-
120 -
9914
91 14 4-
136 -
44
116
3r4 r
3914-
32V4-
1UH-
112
49J4 4-
114
78 - -34
22H
118 5Ht
46V4-
74
31 -26
-134
4
77 t3H-
914
13714-
8H4-7314-3814
76
66H
11H
19'4 4-
s14
2214
-75J4-113
68 4
4314 4-
12 4
r6 4
981a 4-itH-:eh-
68 -
81i4
33 4754
62 83?
IBH4.
54 4
120H 4-J0-7614
4
264 92
I8H
3814 4
22 54
63 132
82
314 4-,
74 -
4454-
Nel
Chge.
- M
14
14
H
H
1V4
14
W
y
14
4
114
1
14
H
V
14
V
1M
14
14
H
ri
alee
100
2100
200
100
300
500
200
200
1S30
"700
200
600
13310
300
100
210
son
300
64TO
tee
100
li
Hi
14
'
'a
J4 '
Va
'Hi
214
H 1
l
H
14 I
14
"h
14
114
14
2 3 82H-
800 I H lhlh Valley
65 H
154
184
C4
17"4
2514
63
109
76
14J4
63
42
89 H
3154
7714
40 54
33 J4
13
!8K
38
82 54
H
5
81
19J4
1254
107
10
454
43
IK
34
27 H
I0H
Z44
22 54
11354
23 54
834
1754
80
51
I7H
33 H
I
43 K
26 M
4f4
43 H
106
50 J4
104
364
20 54
13854
73 54
8054
37'
56
32
65 54
154-
24
20H4
844 .
17)4 .
76 -I4J4-13
42 -89)4
.
3154-
7714 .
54
134 t
18H .
384 .
B2 54-
154-
86
6154
I9J4 4
13 4
107 -10
-
454 .
43
1J44
3J4 4
29K 22J4 4
113J4 4-2314-634
17 54
80 -51
18
34
1 -
43J4-T
264-
4H
444
106 J4
5114
104 -36J4-20
54
130 54
37 54
56
54
14
1M
4
14
14
14
H
'ri
'a
4
H
M-
14
14
14
"l4
114
14
54
14
114
14
14
54
14
K
14
I
14
H
54
14
a
54
14
14
14
Ulv.
Ins 8TOCK Hl1 lw
Urnni ft Myer. ..J 69 169
1 Lima Locomotive ..11654 I4J4
.. Leew'a tne 1314 f 1354
1 lrlllard Pierre.... 156 V4 '5
.. Mack Truck J614
1 Mack Truck' 1st pf
7 Mack Truck d pf 8314
.75 Mctntyre new .... I7V4
.. Malllnsen Ce 2J
.. Manatl Sugar 484
4 Manhattan Kl Supp 56
.. Market St Rwy .... 7H
.. Marland Oil 45
t Martin Parry. -n
.. Math Alkatl 3814
... Max Moter Clasa A 7214
.. Max Moter Class B 25 H
May Dept Stores ..11354
It Mex'csn Petroleum. 140 54
7 Mex Petroleum nf . . 92
3 Miami Copper ...".. 30 H
43301.20 Middle States Cerp. . IH
100
1700
100
58)0
400
500
100
100
100
100
200
1303
5600
200
tee
H
'i
H
' 14
14
1
114
14
14
114
IK
H
" H
14
54
14
14
14
H
V
1
4 I
H
H '
14
,
4 !
I
I, I
54 1
rs,
Mill vii I Ctl 37
. Mln ft m Trills ... '2 54
Me Kan ft Texas... 12
. Me Kan ft Tx (wl) 18 14
'. Me Kan A T (wl) pf 40
. Missouri Paclfle . . ?3
'MeTac'fle pf .... '34
5 Mentana Power ... 3
Montgemerv Ward. 22 54
. Mulllns Redy pf .. 30J4
. National Acme ... '7
Nat Rn A Stirn ... '3V4
. Nat R R of M 2d pf 64
Nev Cen Copper ... 1814
t V r ri..i n U
3500 JU New Ve'k Deck'... 46
5 New Vnrlf TV.lr nl . t5
. New Tork N II ft H 31 54
t New Tork Ont ft W 2654
. Norfolk ft Southern 21
7 Norfolk ft Westem106
B North American... f3
J North Amer pf 4354
. North American rts 84
8 Northern Pacific .. 76
. Neva Scotia S ft C 35
. Okla Pred ft Rf . . 'H
.. Orpheum Circuit .. 2054
. Otis Steel 14
t Owens Ret Mach .. 37 V4
. Pacific Devel Cerp. 94
Pacific Oil r4Ji
Pan Amer Petrel .. 71 J4
Pan Amr II 65
. Panhandle 9M
. Parish ft Rlngham. . 14 54
t Pennsylvania R R. 42
. Penn Seaboard Steel 1 1 4
S Peeples Gas Chicago P414
. Pere Marquette ... 3? 54
B Pere Marquette pf . . f6V4
5 Pere Marq pr pf . . 77
5 Philadelphia Ce . . . 38T4
Phillips Pet 5854
. Plerce-Arrew Moter 21 14
. Plerce-Arrew Met pf 42 H
. Pierce Oil 94
I Pierce Oil pf 12
. Plggly Wlggly St... 4414
6 Pitts Ceal (614
. Pitts ft W Va ... 39
Pitts A W Va nf... 8954
700 1U Pend Creek Ceal .. ?2J4
100 s Pestum Cereal .... fZ'i
8 Pestum Cereal pf ..109
. Pressed Steel Car . . 80
. Producers A Rtf 464
( Pub Ser Cor of N J 16
S Pullman Ce 1?0
. Punta Alegre Sugar 53 54
1 Pure Oil 3314
. Ray Cen Copper .. 17 J4
4 Reading 7354
2 Reading 2d pf 52
. Remington Typew.. 36
. Replogle Steel 37 K
. Repuh Iren A Steel. 74 J4
. Republic Meters ... 11
. Reynolds Springs... 5054
Reynolds Teb D ... 464
240OS.20 Royal Dutch N T.. 6454
100 .. Rutland pf 48
100 1 St Jeseph Lead.... 1554
100 .. St Leuis San Fran.. 2854
100 ..St Leuis San Fra pf 48
200 .. St Louts Southwest. 2954
100 .. St L Southwest pt
200 San Cec Sugar. ...
100 .. Saxen Moter
900 .. Seaberd Air Lin .
100 .. Scab Air Line pf.
303 .. Sears-Roebuck
6200
100
430
100
100
100
100
500
100
3000
tee
100
' 200
60 1
3200
1700
1200
5703
200
2400
9200
500
300
100
100
100
3800
1800
830
18500
100
800
300
6500
100
200
603
1600
200
tee
5400
1300
370
630
130
1209
1930
28J0
530
1030
730
330I3H Shell Transport.
47 J4
554
4V4
7H
11.54
77
44 J4
3P4
2700 .. Sinclair Consei
700 .. Se Perte nica sugar 54 ri
803 Southern Paclfle ... 89(4
3200 .. Southern Rail .... 2454
300 .. Southern Ralkpf .. 5454
700 .. Splcer Mfg Ce .... 22 54
2600 4 Standard Oil of Call 1554
400 6 Standard Oil of N J19454
330 7 Stand Oil of N. J pf 1 1554
200 7 Steel Tube pf .... 84
1830 IViSterllng Products... 52
200 1 Stewart Warner Spd 44
100 .. Stromberg Carb .. 52
6330 7 Studebaker 124 54
200 7 Studebaker pf ....11454
1030 .. Sub Reat Cerp .... 7 54
1630 .. Superior Oil Cerp .. 94
3100 .. Sweets CcLef Amer 4)4
700 .. Terat Cern ft F "A" 2 54
1100 .. Tenn Cep ft Cham.. 12
5400 I Texas Ce 48 H
600 4 Texas Gulf ft Sulph 49)4
3103 1 Texas ft Pac c ft O 204
100 .. Third Ave 23
700 Tobacco Products .. 8O54
800 7 Tobacco prod pt . . 1 09 54
600 . . Tel St L ft W ctfs B 52
1600 .. TStLftWpfcts B. 50
1930 .. Transcontinental Olt IS
100 2 Twin City HI .... 56
200 Union Bag ft 'Paper t5 54
2103 .. Union Oil 244
530 16 Union Paclfle 137 54
100 Union Pacific pf .. 7554
100 .. United Alley Steel.. 39(4
400 .. United Drug 77
100 3V4 United Drug 1st pf 4714
100 .. Unit Rwy Invest pt 31
1800 .. United Retail Stores 66 H
1700 ..US Feed Products. 8J4
200 ..US Heffman Mach 24
1000 .. U S Ind Alcohol ..57 54
200 ..US Realty ft Imp.. 69
403 ..US Rubber 64)4
100 I U S Rubber 1st pt.. 105
2)0 ..US Smelt ft Ref . . 434
300 3V4 U S Smelt ft Ref pf 47 M
9600 t U S Steel 102H
330 t U S Steel pt 119)4
1000 2 Utah Copper 67)4
WOO .. Vanadium Cerp ... 51
200 .. Va-Car Chemical ..3114
100 .. Va-Car Chemical pt 684
200 .. Vlvaudeu Inc 12 H
1200 .. Wabash 134
500 .. Wabash pt A 314
300 1 Weber ft Hellbrener 134
400 .. Western Maryland. 124
300 . . W Maryland 2d pt. 21 54
400 . . Western Pacific ... 21 54
100 1 Western Union Tel 99
1200 t Westing K ft M ... 61 J4
3600 .. Wheeling ft L E .. 1554
700 .. Wheeling ft L E pf 28
303 3 White Eagle Oil .. 28
100 4 White Moter 50 54
800 .. White Oil Cerp ... 10
200 .. Wick Spenc St Crp 18 54
2600 .. Willys Overland ... 9 54
300 . Willys Overland Pt. 464
100 1 Wr.ght Aero b4
Es!ltf4tn4.
!6
f9
83)4
17H
23 H
4814
55 H
7H
424
34)4
3814
72K
25
11554
139
92
30 H
14T4
37
114
12
174
40
T24
55 H
73
22 V4
30H
17
24
. 5H
1'54
8954
44
6.
26V4
70
106
b3
4354
8H
754
35
'V4
10V4
14
3714
9V4
'44
7114
454
954
1454
41 S
114
e4
3254
6654
77
38H
57 "a
2054
404
8J4
E2
43 H
6654
?84
8954
22 Va
8214
109
79 H
4314
C6
120
52
32H
17.H
7554
52.
34yJ
37
74 54
104
494
'6
OH
48
1554
28)4
48
2954
4754
554
414
754
1114
77
44 54
37 H
52
88 H
24 54
54
22
1144
93
11354
84
4954
43 $4
52
123)4
11454
7
914
4
2)4
12
4854
48K
3054
23
80 54
109
5114
4954
174
56 .
6554
24
137)4
7514
39)4
76
47)4
31
66
24
564
tg
64 K
103
43 94
47
101 M
11954
66)4
5054
3154
684
124
124
314
1354
UH
21
21
99
61)4
1454
264
28
5054
94
18
9
46 54
s4
1 :10 Nel
P. it. Chie.
169 - 1
115
1514-
15654 4-
5654
9
83x
17H
23H
4BH
36
. 71
4414
3454-
3814
72H
.,25 -
11314-
139)4-
92 4-
30 H
13 -
37
1214
12
17K
40 -22
K
34
73 -22
V4
3C14 17
314
6H
r
(3 -
0H
26 '4 .
63
43)4 .
84
75J4 4
35 H
2.0 V4 -14
3714-
914
6454 9V4 .
?4
1114 .
.
5814 l
2114-t-
42H4
9 -52
44(4 x
6654
80
-120
-5214
33
1754-75)4-12
35J4
37
7454
1 50 -464
-1514
2954
4714
514
454
754
1114 77 f
34 54
B8J4
2454 -54
-
i2J4
115
18314-
11514
84 -
5114
43J4-
52 -
12454
11454
7 -
954-
4
254
12
4854
se 54
109
51 H
49J4x
13754
7354 39)4
77 4714
31 -66
-854
24 -564-69
-
64K
105 43)4
47H 10254
119 54-6654-i0!4
-3154-684-124
124-314-134-24
21
21 -99
61H-
1454
27 -28
5054-
954
18
9)4
464
14
14
14
K
14
K
14
154
14
14
2M
54
V
4
4
1H
14
14
")4
"h
'14
14
54
14
V,
1'4
314
54
"54
H
14
)4
14
14
H
V
'h
14
14
H
H
54
114
M
"l4
"V4
V4
14
"h
54
H
14
14
"l4
14
14
14
")4
H
14
14
14
1
H
14
14
'
"14
"'A
1
4
14
H
214
14
a
14
14
14
H
1
214
14
14
K
54
14
14
'
' H
14
H
154
4
14
14
54
54
4
' V
114
14
54
U
14
14
14
14
14
"l4
H
14
14
14
V
14
M
H
14
14
14
1
14
114
1
UTILITIES ACTIVE
N LOCAL
MARKET
American Railways Reach High
est Prices in Twe Years en
Dividend Rumors . -
Continued buoyancy of the utility
shares kept speculative Interest alive
In the local market. The broadening
tendency of the trading naturnlly at
tracted nttentlen In view of the
apathetic stnte of the big market, but
the movement was thc most vigorous
experienced en the local change since
the Inception of the current ferwnrd
BW'n- . ...
American Railway share maintained
nremlnent position In the movement
of the utility group." The common scer
ing a rurtner advance 01 ever jjepinm
te 14 en very active trndlng. The pre
ferred, which hns been found te be In
scant supply, added nearly 3 point" te
yesterday's 13 point advance selling up
te-60.- These are best price for either
of the two stocks since 1010. hlle
nothing official was obtained, It was
understood. In usually well'lnfermed
quarters that plans' hnve been perfected
for net only pnylng off the accumu
lated dividend en the preferred stock,
but also providing for the resumption
nf regular dividends en mat issue, inia,
It Is believed, is warranted by the cur
rent earnings, which show every like
lihood of still further Improving In the
resumption of Industrial' plants tapped
by the underlying lines.
There was, however, animated trad
Ing in the entire group. Despite de
nials nf the reports of Increase In the
I.'. (I. I. dividend te a 0 per cent basis,
flint stock continued Its upward move-'
inent making a new high figure again
at r1Vfc. This compares with a low of
.18 this year and the extreme low of 20
In 1021.
A bread demand continued for P. It.
T. up te 35'4, eiiinl te its recent top
price, but at the higher figure mere
stock was met. This was rapidly taken
with only a fractional recession. Phila
delphia Traction continued te bring 6(1.
The Philadelphia and Western shares
had a much broader market. Approxi
mately 1100 shares of. the common
changed hands during the. morning at
an advance of , te 10. The pre
ferred, en smaller transactions, rose a
point, te .1414. The Philadelphia Elec
tric issues, while net active, remained
firm near the bft quotations.
American Stores was about the only
one of the miscel'aneeus group te make
headway, and en moderate trading es
tablished a new high record at 123.
Klectrlc Sternge Battery, en the ether
hand, yielded te 44 en profit-taking.
Lake Superior was reactionary, falling
bnck te 10 and the income bends
yielded te 38. West Jersey and Sea
shore regalnede the point decline It
made yesterday, rallying te 30. Penn
sylvania Salt and Elsenlehr were firm
features.
Philadelphia Stocks
Lest
1:15
P.M.
nich
lOOTAm Heet
Sugar... 48 48 48
105 Am Rtrs..l23 12214 123
1700 Am Rwys 14 12
60 de pref. . 60 60
lOOfChAAlten 11 4
lOSfCubau Ca
Sugar... 18
150f de pref.. 38
132KlecSter. 44 T
070 Lake Sup. 10 10
100 Leh V Tr. 11 11
10tM Sta Oil 15 15
108 O Elsenle'r 65 65
603 Penna R R 42
35 Penna Salt 72
1605 Phila & W 10
Net
cbat.
11
18
38,4
44.
12 2
125 de eref.. 34
385 Phila Elec 20
in de pref.. 30
2210 Phila R T 35
14 Phila Otn
- Ner.. 121
10 Phila Trac 66
IftOtSlnclalr. . 38
150Tone Bel.. 1
HWTone Mln. 1
800 HO I.... 53
10 W JeriS. 36
10 Yerk Rwy 29
42
72
10
34
00
20
35
18
381
10-
H2
51
65 ..
72 .-
10
20 ..
20-
35 ..
121
611
121 ..
60 ..
37 38-f.l
s n
20 29 i
fNet chance made by comparison with last
sale en Near Tork Stock Xicttanse.
pnnAnrxraiA benda
450 Liberty 2d 4s '42 09.82
2500 Liberty 2d 4s '42 09.98
750 Liberty 3d 4s '28 00.02
750 Liberty 4th 4g '38.... 09.90
2000 Liberty 4th 4i '38.... 100.04
3000 Liberty 4th 4s '38.... 100. 00
- 750 Liberty 4th 4a '38.... 99.92
1000 Liberty 4th 4s '38 100.02
450 Victory 4s '23 100.52
300 Electric 4 Pee 4s 08
5000 Lake Superior Inc 5s. . . . 38
iuuu rnua company cons 6s
juuu rnua fciec 0'jb.
1000 Phila Elec 1st 5s
12000 Phila Elec 1st 5s.... lets
lOOOPhlla Elec 6
1000 Phila Elec 8s
'
DIVIDENDS DECLARED
,JKS5 .WVeantn, "tKJ'BRSf
0fcWcaw,Ulnrlanapella and Ueulavllle Kail
,2? eml-annual 2 vr cant en prt'arred.
,0Jh.,S,n1nfr,,CemVan,y0: II. payable
w.. . ,-mj. .. in
MmV has na Invaeter
W Ur af nrlnelpal er Interest en aay
SMrttr beniht t 8. W. Hlraaa C,T
.:t;-,W$l fr.asr keklat 1-Q and laara the
rfpmimm why.
at? ' :..'iv. '- a ni ctiiiiil bl rn
lijM'J1, . vr. aiiiAUii e. uu,
rBrnapjse u,a., rnn.irnia
- , . of eellateral, opened today at a par ent for j Jur?enl5urn,,J!pbw.r Company auafterly 1
ever lea a aal. undlns and rnewrs. L..II2P or!. Teer ent prefarrd and IV
e-jfj
'-Vil
'"1
.E, HlQGIHSON ft CO.
Xetaellaheel 141
as kkw rniiK ciiicaoe
Wanes BHf, Phllsdelpkla
i par canti commercial paper, thraa te ill
menfln. M te Hi per cent.
XT, llnl Sn 7 Sr iant pr.ferred,
July 1 10. stock ef: record
payable
payable
laWDON Meney. IK per cant.
A -IO
Dlaceunt
rates, ihert Mile. 2 5. la per etntt three
mentha bills. 2H9S T-IS per cent.
BANK CLEARINQ8
Dank claarlnga today compared wltb cor cer cor
reapendlns day laat two years:
1J l21 !S0
noaten . ,1111. 000, 000 t40,7J,670 fSS.SSS.AOS
,u T. .7O0.ROO.H0O i7,0S4,O3 71,M.Bt
li'hlla. .. 7O.OOf.O0O 6s.sel.SOT t0,B54,6O
r
Liverpool Cflgten Exehanga Closed
remained de
day.
j " "fl c"1
Wt '
per cent prefarrd
yrmcrra
una IB.
.' .. . aii.,!.. . vr. cinii.
UOII. til... M '.-- w---v.
Juna SO te stock or recore jn .
Paclflc Taleeraph and Telephone Company,
quarterly 11.80 en prafarred. payable July
15 te ateek of record June 80.
Mack Trucka. Inc. quarterly 11.75 each
en Aral and second preferred, payable July
l te ateek of record June' 20.
Kentucky Hecurltlaa Corporation, qjarter
Ir H4 per cent en preferred, payable July
15 te stock et reeera junt au,
Philadelphia. Baltimore and Waahlnsten
Railroad Company, i-ml-ennual g ptr. cent,
payable Juna SO te alack et record June 15.
Lene atone ties Company, quarterly Itt
par cant, payable Juna ae te stock of record
June 20.
Fayette County Oee Company. M 2-Se a
share, payable June 20 te stock of record
LIVE8TOCK QUOTATIONS
CUeasa. June B.t-CAITLE Recelpta.
6000 bead. Actln. generally steady en all
claaaas; In between sradea. butcrar, she
ateek and ipeta en bulla slew; run largely
beef ateera of rather plain flesh condition.,
n&rt inari huiinrWa in ae vaarllnaa and ma
tured aieera. $0.40. Hulk beef ieera, 18.40
OS.BOi bulk bologna lulls. I4.50ff4.e5; bulk
vealara ta packers, 1 10.C0911: few at
111.60.
HOGS Rccelpta, 31,000 head. Opened
steady with Thursday's bait time, lata SO
lc lower than early or sieruly te 5c lower
than the average. Tep. $l0.5i bulk. 110.20
V10.UO; pigs ataady: meMly 110010.50:
heavyweight. 110 50010.75: medium. 110.70
V 10.00: light. I10.S0O 10.051 Hsbt llfbta.
110.400 10.901 packing aewa, amoeth, fD.ae
OS.00: packing aewa. rough. Ie.50; kill
In plga. I9.75O10.B0.
8HKBP Receipts. 11.000 head. .Blew,
meatly 25c lower, Tep spring lambs, 114,50:
culls. 1171.50: mostly Is: shorn lambs
carce; two double geed SO.peund red west-
erna, H. heavy ewes araggmg aroune ta;
beet light fat ewea quotable te 17: today's
receipts Include 8000 direct te packers.
111.40011:60
Pisa 111,60; roughs,
v.uv.
nttsberga, June 9.
toeo head. Steady,
yerkara, light yerkars
11. se.
HOGS Receipts,
Heavies.
and pii
pis,
lilt heavy
111,30 -j
811EEP AND LAMBS Receipts. 500 head.
.ay. oee-
CAX.VEB-
".,
.d. BT.2BI lamDa.
RecelpU. 150 head. Steady,
. " JLr.vil" Vcnjin7i juna t i
ssssS IQOM.Y . IrVniMUBtlslal hs.ll. ' iM.t.L;.. Wm nistsU fTAtnnSifiW ism. ITasi 119.311. rmrtm fJWs.W ,aIIV
w- - -j- - -. rUHVUISH e searaw wefe ar e.ar g ii - a srs - a - - r w , ssssssj. . laaaalMSTaaTi
r-' . "Tl ly par seM. -sa.raWs ir 1 te stock' of, J, - w -.. - rHs. J'fiafsa7lM.Jafaf( sVss was "ISiTi
am-y,, flfv rewr;i"te-:. .., ,.- ,. ,ssass aaraaa.-ai. ., mi9j.wrZKtV'rT' SS 'We-SllaTsaTaaTsaWsTIisaTc CsaBleseasssai.w-wwwi
. B 2 -. k. sSBSSSSSBSSi bsss eaaajLsi Laaassr sssia. ' sBSkarsasssa m - aatew aai x '-mm vm veavveeBwaa f samsiisiBSsrass jsasear sajaassassa' asrvasBBBasBsr a ijafal r veers w as as BBBssBSBasssssssBaTa asBBBSSSSSSSSSSSSSSSSSSSSSSSJ.wsBBSSsssssssssai J bbbbbt , -aEBrssasssBSSi ssassssr tssssssssssfsik i wstsslbbi ssssssssisbsssssi it
XI -'r'WH,Jawsa7K'r!.7Srl5i " sawgaS Julril.'ta staafc-sf reaara) qne . seipts. 1MS fcaeA JNsa;-.flfA (,? , i4 eMlfiMt WMMBQ94iiin7XXfsirAlmZ
fiislsg iHUmUmftl''iMr SeSs,i-4N:selre.aaa
yerkers, light yerkers and
IBTPS.JSi (tag., 5 J
SHEEP AND LAMBS Receipt., 800 head
lY5!y" ' Umt"' B0c low """ ll
Drever' Nat. Increases Dividend
. The Drevara A Merchant.' Na'tlenal Dank
has declared a semi-annual dividend of S
?f.r ".".' piJ'.lW. July. l ,l011 ' record
June 15. Thla Is an Increase from the for
mer rata of 5 par cent te 6 per cent per
annum. The rum of 110,000 was added te
surplus.
$63,000
ERIE RAILROAD
e
EQUIPMENT TRUST CERTIFICATES
Original cost of equipment
Outstanding In hands of public with first Hen
en above equipment
Held by U. 8. .Government stamped second
In Hen -
94,801,600
2,600,000
1,301,300
MATURITIES
$44,000 DUE JANUARY 15, 1633
10,000 DUE JANUARY IB, 1934
9,000 DUE JANUARY IS, 1935-
PRICES TO NET 5.70
REILLY. BROCK & CO.
30S CHESTNUT STREET
PHILADELPHIA
J
,j d
DIRECTORS
Oie.Buajnuu.la, ArnTD.AmaiWi
1. Bastem Towmers
CFus'kC Stout
BurAwm Rum
WuuaMFerr
Cuusnt B. Nswsets
CfUUI.E.VtATBU
Hasjlt F. Basis
WiuiamWoed
CststtiVmma
Csas. E. Inoisieu
A. A. jAcaaen
SAUunM.CuawiM
Classnci M . Bse wn
STtVtHS Hictic.is
H
Mr, Arthur W. Sewall, President of the General
Asphalt Company, said te us:
"The continuing rise in bank clearings
and the falling off in failures are en en
ceuraging, but business America is net
yet stripped for Gym. Until she is,
where is she, especially as te foreign
trade; and without foreign trade,' what
will she become?"
Central National Bank
of Philadelphia
Chestnut Street at Fifth.
Capital tlfiOOfiOO
Surphu and Undivided Profits Earned $i,700fi00
P
Electric Bend & Share
Preferred Stock
Price te yield about
6.20
Bonbright & Company
437 Chestnut Street. Philadelphia
New Yerk Bosten - Chicago Detroit
Weel Market Moderately Aetlve
Bestea. June . The Commercial Bulletin
tomorrow will say! "Wnlle the wool market
at the Eastern aeabeard has been only med.
erately active. It hsa nererthclass been vary
firm. In the Vcst the new clip Is moving
steadily al llrrn prices also. The woolen
mills Are (enerally well occupied, while the
worsted manufacturers still And business
rather, slaw. The ferelsn primary markets
are a bit elr en tepmaklns merinos, while
reed cemlx wools rre firm. Terkshlre re
flects the same condition of affairs, tops
being down a Dinn te fifty-four pence for
September-October, delivery."
! FINANCIAL BRIEFS I
Between January 1 and June 3,
1922, 80.000 freight cars wese ordered
in the United States, or about three
times the total purchased in 1021.
The average "price of the twenty ac
tive Industrial stocks declined 0.04
per cent yesterday te 05.11, while1 the
twenty railroads declined 0.05 per cent
te 84.43.
Minneapolis, St. Paul and Saulte Ste.
Marie will receive $502,000 aa a anal
settlement of the guaranty for six
months following period of control et
railways.
Secretary Mellbn expects te refuud
about one-half billion dollar of the
$6,000,000,000 of the Government's
short-dated debt en June 16, It was
said at the Treasury.
American Locomotive has recently J
closed several small orders for total of
fourteen locomotives. Largest Item is i
two 160-ten mountain type engines for
Central of Georgia. ,
Meney in circulation June 1. S5.346..
832,497, or $48.78 per capita, against '
a Der caelta of $48.89 Mae 1 and SKR ftft
June 1, 1921. Geld coin and bullion in ,
fueled Duiti, uune i, 9a,u,(U,jai. i
Albert 11. Millett has been elected i
second vice president of the Columbia I
Avenue Trust Company, filling the va- I
cancy "caused by the death of Walter
u. reus, '
Firestone Tire and Rubber Company ,
is unucreioea te ee contemplating Ik-
suance of $1,500,000 bends as part of '
plan te finance new plant at Hamilton, ',
Ontario. Details have net been an.
neunced. '
Anether interior lean of 4,000,. ,
000.000 te 5,000,000,000 francs wi
be floated shortly for continuation of
the work of reconstruction In the
aevasiama regions et c ranee, The flo
tation will be through the special re
construction bank of the Credit Na
tional. The Durham Hosiery Mills and affili .
ated companies, In their report for the
year ended December 31, show a net
deficit of $1,742,202 after' deductlSg all
known tosses, shrinkage in Inventory
'rJteiMA Far the .three
WALNUT T010
TELEPHONE
WACETtH
We own and recommend for invettment:
4 $50,000
UNITED GAS & ELECTRIC CORPORATION
6 Collateral Trust S. F. Bends. Due April 1, 1945
PENNSYLVANIA STATE TAX REFUNDED
This mortgage is securad by the stocks of subsidiary
companies having a par value of approximately $26,364,
450 as against $8,965,400 of these bends outstanding en
January I. 1922. As a holding company this corporation
controls through stock ownership 24 street railway, gss,
electric light and power, steam heating and water com
panic located in nine States, and four oil companies.
The net earnings for this year from its utilities alone
are estimated te show gain of $1,200,000 ever 1921.
It is also expected that the company's oil properties will
!urpi,.!ne net ey showed for the year ended October
31, 1921, which amounted te $1,354,632.
Fer the twelve months ended April 30. 1922, this
company showed earnings applicable te the 1st Preferred
Stock equivalent te $9.93 a share. This is after all Uxes
and interest charges had been taken cafe of and does net
include any profit from its oil companies in excess of the
dividends received from them.
Prica $875 Per $1000 Bend, te Yield 7.20
NEWHALL, GROSS & DIFFENDERFFER
Real Estate Trust Building, Philadelphia
MEMBER NEW YORK AND PHILADELPHIA STOCK
AND CHICAGO BOARD OF TRADE
BXCHANOal
"C"
THOMAS JANNEY COMPANY
Sele Leather Tanners and Shee Mnnafnctarert
wish te make a sound, meritorious and
conservative investment offering. Address
DESK
THOMAS JANNEY COMPANY, VICTORY BUILDING,
PHILADELPHIA
MEWBURGER,
HENDERSON & LOEB
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