f f '72fpf' $g&Fff
jwryf
rTLTiil
vaej ;v
W W.J,F"
it?.f.i'tI - i.
1
aB?:v" "
Siyp
'GlBRBIGBSm''
"" 3wv:isis! w v :.'m&vwmmffi?mwm
it , '
16
& - "
("k -;' w.
ex
&
il
!,'T )-Hepvy Leng Account Ap-
Hit ; . . . .... .
N&l v i.arentiy Lett List in vui-
i'izwiZ nerable Position
9W2LL :
:&... t
?t"-jA sern, June ju. inc icrrrisn
i'.'tf.'Bt 'of today' stock market was a
j natftral aftermath of yesterday's violent
Mktdewn. While price movement
Wn erratic the undertone wa much
btter and the greater part of the list I
Hafilajed mere rrMMlng power. Al- j
though overnight developments were of
a, distinctly constructive type, Including
!'
iqe.,ciran hill of health Riven the :ner
Kera of the Independent i-tcel com
panics and continued extension of buM
Hfcss recovery by the mercantile agencies
tha-aclllng movement wan resumed en a
heavy scale at the eutpt.
"While the oils and ether peel Issues
were most vulnerable the pressure ex
tended te ether parts of the lit. The
(Jetuncs, however, diele.cd powerful
Menying support wnicn net only
etkcd the downward swing, but sub
jeqqently brought substantial recov recev
erlM, carrying the mere active leaders
w te and above last night's closing
level en free covering of the short In
terest. When the requirement. from
this quarter were satisfied the buying
demand was found te be very limited,
tvhleh in turn invited fre-h profit
taking and caused a general shading
Oftpriccs In the final dealings.
3 Bend prices were lower following
tbaheavier trend of the stock list.
Liberty and Victory issuer cased en
fairly heavy offerings. Ma.-lnnd Oil
warrant. lest l1 points and Interna
tional and Great .Northern adjustment
0.,.fell 1 point. Fractional declines
were sustained bv St. l'aul convertible
4, Missouri, Kansas and Texas 4s.
Chicago and Alten .'i'-jn. Mercantile
Marne 6s. Atlantic l'ruit " and Third I
Amue adjustments. Mexl'an (Jnvern- (
dent 5s rallied 1 point and Chesapeake I
and Ohie convertible 3s. American
Smelting ,"s and Chile Copper G3 were'
fractionally higher.
AVhethcr from natural or forced in
flu'e!rlces. there whs a derided Iarken-
iBg'.et the speculative Interest during '
the-"current week. This is net alto
gether surprising In view of the definite
sUns present within the last fortnight
which plainly indicated a growing top
heavy long account. Despite the con- i
tinued scattered selected demonstrations ,
the forward sw.ng denoted it had lest '
a great deal of Its former energy and '
se-called strong-arm methods were I
found necessary te be applied often in
order te keep a moderate amount of I
peculatlve interest alive.
Net from any adverse turn In fun- I
damental or basic conditions ceu'd the
apparent changing the complexion of ;
the market be held responsible. Te
the contrary, conditions and develop- i
I
11
i.t
ments all indlcatp uninterrupted prog
ress in the reconstruction from a financial,-,
commercial and industrial view
point. Threat of a railway strike, in
vestigation of the steel company mer-
Strs and talk of overproduction In the i
midcentlnent oil field are important only I
la" producing, as they have done, a I
mixed nttitude. As real factors they are '
nor treated seriously, but are regarded
asabelng Incidental rather than having j
a'tllrect bearing upon the general sit
uation. I
In the great rise in security values i
alnce last August, however, there is !
both the possibility and probability of
inc, marKet Having outrun the tmpreve-
MS
eni new Deing manitesteii in trie gen
1 business situation by indisputable
facts and figures. Hegardless of this j
theoretical side of the question quite i
irnumber of deep thinkers sensibly
reached, the conclusion several weeks '
"""af.ttie time at least had arrived when
profit-taking would make a geed or- '
deref the diiy. Although there has i
been no sign of the market having suf- i
fercd any acute indigestion, yet the !
effect of the weight of tliee heavy real
ising sales for some days has been quite
apparent. Whether the technical bal-
arice can be restored without the cus- j
temary shakedown is a question diffi
cult te answer. '
If the stabl ity of any movement must
depend upon the circulation of lrre- '
spensible creations of the professional
rumor monger and the exploitation of '
a class of stocks formerly dubbed In
the category of "cats and dogs," it is
certainly net a plaything for the inex- I
perienced lajman. Ner could it he re- i
garded as u market of a character te ,
meet the approbation of the leading anil
Influential interests. Fer some little
time' the accepted leaders have shown
aH'the recognized earmarks of having
had? their movement. Whether the halt
ia only a temporary breathing spe 1 pre-
pfpajtery te the second stage of the con- j
afcructive movement remains te be seen.
Philadelphia Stocks
V.
Nt
cbg.
HlK1
Lew
12i
til
Clese
-WJMm Uin. 4rs
625Am Rwy.s. l.'lH
60 de pref.. lit
47 "'s
IS -01
-r
l..
800 Am Ship
i Si Cem. 21', 20i 21
205 Am Sirs.. VJl'h 11.'! 124
20Chile Cep 214 -I1 - 21 V
'S
. JTtXisueii . . -i)
WCub Cane
S Sugar pf JilPi
OTKlec Ster. 44
J&Erie Light 2.-'i
TO-In Ce N A a4
. BOtlnvlne Oil l(!"i
800 IA Sup C 10
iOOtMarl'd Oil 44'
JfOtM Sta Oil 141..
dOtMldvale... S(!S(,
60tPacific Oil (52
HO Penn Cent
j; Light pf. M'...
WJ Penna U It 42
JjOfPierce-Ar 2P
.HOI'hlla Ce
4'J
.'OS',
4.'l i j
2.-, i',
as
ies
44;
14i
02iJi
r,4i
41 "s
21 i
:ie
nil
4!)
ftn MARKET
an an iiiriiiiti i
itlHLY FEVERISH
r.rn; ;s
4'i;'s "s
'&- 'h
VIt t
44H h
14i- 1,
ae-'s-f
2 t.
,-,41 1.',
42 4- H
m
&
h cum pf . .'i!i :ie an 1
an
2!)
an
Hi
W I'jina Kicc .'i
Jt2 de pref. . .'(I
lOlSPhllu K T :il
1 V Vn... 3R
3S-
Ml
7a
30 Uj
iV
20',
47
1
41 U.
,ri3i".
r.i
71
38-f
4H-
7a
.'17
S?s
's
&T Klffndle Cor 4;
-.-. .. - .:?
JtWtTltemting.
73
a7
' . ailitllnnlnl.
,A V,Ktr"s
lOOtBupcr Oil 8T's
WtMTevllrt T'nn
K U.J. r t. i nni'
20 ', V..
47 VH
lTs A
41 W...
,"4
71 1
lOOtTexas Ce 473;
Ten Kel.. VH
'Un Trac. 4 PA
u e i .. r,4
' de pref . M
Wcstmerid 7
"Yerk It pf SO'j
U Vj
I i'J i?.tKt change made by comparison with laat
2'V Ml -en new Yerk stock Kxcnange,
Total aatea, eujt anarra, compared wite
anaraa jeneruuy, inua ur ima week,
sharea.
PHILADELPHIA IIONDS
Liberty ltli iVt "M
Victory 4-y,B i'l...
Am Gas & Eire 5.
en.ns
I00.CJ
80
08
Elec & Pce 4s
i Lake Kup Inc fis
:i7'.
i ucuisn mi cons us,, .lets iini'i
Lehlgti val cons Oh 100
iPblla Electric 5M,s..!ets WW.
i. Phlla Electric JiVis. 00
I Pblla Electric Int .Is. . . . OS'.
177,100, compared with ISl.950 yea
this far thla wvak, 1488,800.
IM&H '
API JIILVER
r"i ,
irJ allvar was uncnanged In
-Wise ,pr line ounce)
. jb Mwacn-ine
m.
:m
Itf 20
wLS.
rgK"t
NEW YORK STOCK MARKET
Dlv.
In $
Net
Sales
100
600
300
120 J
tee
930
200
330
403
100
2030
100
103
200
100
333
200
100
303
1600
1200
1200
100
200
35 JO
1933
1403
2503
230
1000
100
1203
200
433
100
250O
100
400
400
1700
100
230
100
600
1433
400
3500
800
10
230
2230
6103
100
3700
1000
800
300
100
2403
200
100
ICO
2400
1200
730
933
100
430
1000
400
103
3430
2530
630
400
1100
103
930
100
1230
1330
930
100
330
300
303
100
700
1000
600
100
6530
330
100
2500
1330
100
3030
303
200
430
2100
103
1100
500
1930
833
2830
Hlgtl
Lew
18
16ft
ft
68
97
39 ft
66 ft
47
44 ft
60
47 ft
105
10H
27 H
58ft
SH
14
69
105
45
35
112
97 ft
7
20 ft
60
37 ft
78 ft
105ft
40
60 ft
122K
140ft
138
35
92 ft
108
18ft
44 ft
52 ft
15
42
54 ft
98ft
ift
3ft
40 ft
29
1075
136
30
112
112
47
53
42
32ft
34 ft
76
98
113
7
25
21ft
116
45
96
7ft
29 ft
12
77
t3
OH
136
7ft
38 ft
73
36 ft
51ft
74 ft
C4ft
10ft
17K
36 ft
2
9ft
21
25
0ft
75ft
67 ft
40 ft
79
94 ft
21
30 ft
67
65 ft
32 ft
46 ft
16ft
4ft
17ft
65 ft
31
119
lift
102ft
47
73 ft
25
17ft
36
i5
22 ft
123ft
130
73 ft
43 ft
22
11
15
22 ft
16ft
19ft
63
114
16ft
23 ft
eeft
98
61ft
74 ft
163
14
E2
15ft
-soft
30
17ft
76 ft
39 ft
32ft
13
79 ft
b7
22
79
19
lift
104ft
4ft
41ft
1
3
59ft
34
24
22ft
102ft
22
84
16ft
49 ft
16
12
1
26 ft
4ft
43
49
103
35
19
138
73 ft
Last
thge.
.. Advance Rumely... 18H
.. AJas Rubber 16H
. . Alaska Geld Mines. 54
4 Allied Chem A Dye 69 U
7 Allls-Chalmera pf.. 97
Am Actie Chem.... 39 M
18-
16ft-ft-69
-97
39ft
66 ft
47ft 4-44ft-60
4-47ft-
105-10-27-58ft-5-144-69
-
105ft 4
46 ft
35 -
112ft
37 ft
78 106
40ft
60 ft
123ft 4-
140ft-
138ft
35 92ft-
108 -18ft-44
ft
53 -15
-42
-54ft
Am Asrlc Chem ef, 68
Am Beet Sugar....
. . Am Besch Magneto.
4 Am B Shee Fdy new
47 X
44 !
60
49
. . Am Can...
7 Am can of
105 H
10H
28
58 J4
5H
.. Am Chick'
., Am Cotten O".
. . Am Cotten Oil pf . .
. Am Drug Sy
. . Am Hide & Leather
14H
. . Am HMn A. Leath nt 69
7 Am lee 105J4
.. Am Internat Cerp. 47
.. Am Linseed 35 H
S Am Locomotive. ...112 Mt
4 Am Radiator. .
.. Am Safety Kaier
.. Am Ship & Cem.
9714
7
21 Vi
61 H
, . Am Smelt
3 Am Steel
Foundries 37 H
.. Am Sug-ar lief
,. 79 '4
..106
,. 40K
.. 60'
..123U
.140 J4
7 Am Sugar Ref pf
.. Am Sumatra. . ..
5 Am Tel & Cable.
9 Am Tel St Tel...
12 Am Tobacco ,
12 Am Tobacco B..
..138V4
.. Am Watrwks 8 pf
35
92H
7 Am woolen
Am Wee'.en pf 108
Am Zinc Ld & Smelt 1814
Am Zinc Ld & S pf 45 ft
Anaconda copper. . . 53 Yt
Ann Arber 15
Ann Arber pf 43
Aase Dry Goods.... 54ft
Atch Tep & San Fe u?
Allan Blr & Atlantis 4ft
Atlantic Fruit 3ft
3V4
.. At! Gulf & W I S S 41ft
. All O & W I S S pt 30H
2ft Atl Refining 1075
7 Atlas Powder ....136
.. Auatln Nlche'.s 3114
7 Baldwin Locemotlvel 1 3
7 Baldwin Loce pf ..112
.. Baltimore A Ohie.. 48ft
. . Barnett Leather ... 54 ft
.. Bamsdall Class A. 42ft
. . Uarnsdall Class B. 32 H
. . Brit Em Steel 2d pf 34 ft
6 Beth Steel B 77 ft
7 Beth Steel 7 pf . 98
8 Beth Steel 8 pf..113H
. . Beeth Fisheries .... 7 H
. . Bklyn Rapid Transit 25 ft
. . Bklyn R T ctfs of db 22 ft
8 Broek'n Union Gas. 117 ft
! Burns Bres B .... 45ft
7 Bush Term Bid pf . . 96
40
29
1075
136
30
112 112
48 -
54ft
42
- 1
32ft-
34 ft
77
98 -
113
7
25 ft-
21
116
1
45ft
96
7ft
- ft
. . Butte Cep & Zinc. 7ft
. . Butte ic Sup Cep ..
. . Cadde Cen OAR..
6 California Packing.
. , California Petrel . .
. . Cat Zlne A Lead ..
30
29-12-77
e3ft-
8
137 7ft
37
51fti
74 3
9ft
21
25ft
ft-67ft-'Oft
79 -I4ft
21 -20ft-
13
77
64 ft
9
137
7H
38H
73
37
51ft
75
65 ft
lift
17Ji
10
Canadian Pacific. .
Case J I Plew ....
Central Leather . . .
Central Leather pf..
Cerro-de-Pasco . . .
Certaln-teed Pred . .
Chandler Meters . .
Chesapeake A Ohie .
Chicago A Alten . .
Chicago A Alten pf
Chi A E 111 (new)..
36 H
Chi A E 111 (new) of 53
Chicago A Gr Wt 9ft
Chi A Gr West pf.
Chi Mil A St P ....
Chi Mil A St P pf . .
Chi A Northwestern
Chicago Pneu Teel.
Chi R I A Pac ....
21 H
5 ft
40
75 ft
67 ft
41
Chi R I A Pas6pf 79ft
Chi RI A Pae 7pf 94ft
fhlle Cooper 21 H
Chlne Copper .... 10ft
Clev Cln Chi A S L 67
Ceca Cela (6 ft
Cole Fuel A Iren ..32ft
Cel A Southern .... 6ft
Celum Gas A Elec. . 6ft
Celum Graphophene 5
Cel Graphophene pf 17 ft
Cemput Tab Rec. 66H
Consei Cigar 31
Consolidated Gas ..119H
Consel Textiles.... 12
67
- 1
65-
32 ft
46ft -
119 -11-
103 -49
73ft
25 -17ft-36-55
ft
22ft 4 Cern Products Ref. 103 ft
22330 214
Cosden A Ce 49ft
21 JO
5230
1030
2033
930
230
430
203
233
1930
430
300
2100
1100
100
230
1733
330
930
8100
100
115
4430
330
100
Crucible Steel 74
.. Cuban Am Sugar .. 25
. . Cuba Cane Sugar .. 174
. . Cuba Cane Sugar pf 37
. . Davisen Chemical . 6 ft
.. Debeers C Mln Ltd 22 J
6 Del Lack A Weat ..124
g Du Pent (E I) Cel 30
6 Eastman Kodak new 73 ft
3 Elect Storage Bat. . 44
. . Elk Hern Ceal .... 22 ft
E Endlcott-Jehnson . . 81
.. Erie 15ft
.. Erie 1st Pf 22ft
. . Erie 2d pf 16ft
. . Fairbanks 19ft
8 Famous Players L. e4ft
10 Fisher Bedy 115
. . Flak Rubber 16
. Freeport Texas .... 24 H
6 Gen Am Tank Car 60ft
7 Gen Am Tank pf . . . 98
. . General Asphalt . . 63
6 General Cigar 74ft
8 General Electric ..163
.. General Meters .... 14ft
124
- 1
130 -73ft
43 ft
22
81 J
15 ft
19ft
83 ft
114 -16ft-24
-
eeft-
98
ft
163
14 -t2
-15ft-40ft-30
-17ft
-76
79 ft
67 24ft
105 0 ..
100 6
530 ..
430 ..
630 ..
100 ..
1330 1
930 4
200 ..
230 ..
2030 ..
100 1
330 ..
1200 ..
1530 1
4703
200 7
100 ..
730 ..
2400 ..
3330 . .
600 ..
300 ..
fi Gen Met deb .. 62
. . Glldden Ce
.. Goedrich B F ....
.. Granby Mining ....
.. Gray A Davis
7 Great Northern pf . .
4 Great North Ore sub
.. Green Can Cep.. ..
. . Guantanamo Sugar.
Gulf States Steel ..
7 Hartman Cerp . . . .
. . Hendee Mfg Ce . .
.. Housten Oil
1 Huep Motorcar ....
.. Hydraulic Steel ...
7 Illinois Central ....
15ft
40
20ft
17 ft
76
40 ft
32ft
13ft
te
87
24 ft
79
20
lift
104ft
4ft
79
20
- 1
lift
104ft -
4ft
4t-
1
3
29 ft-34-24
-22ft-102ft
22 -2-16-49ft
-16
-12ft
1ft
26 ft
4
43 -49
. . Illinois Klgnts
.. malahema Ref ....
.. Inspiration Cen Cep
. . Inter Cens Cerp. . . .
. . Inter Cen Copper pf
Interbore Rapid wl.
42ft
1
3
29 ft
34
24
100 2
internat Cement ..
Internat Cem Eng. .
inter Gt Ner"n w I..
400
600
100
800
1700
2700
830
2830
230
833
30
1700
1030
2030
100
3700
2300
100
"2100
22
Int Harvester new. 102 ft
Int Mer Marine ... 22
Int Mer Marln pf. 2
International Nickel
International Paper
17
49 ft
Invincible Oil Cerp.
17
Iowa Central 12ft
Island OH
1 ft
26 ft
, . Kan City Southern
. . Kansas A Gulf ...
. . Kayser Ce new .
.. 4ft
.. 44
.. 49ft
pfl03
.. 36 ft
.. 19H
..138
. 75
. . Kelly-Spg Tire ..
8 Kelly-Spg T 8
. . Kennecett copper
. . Keystone TAR.
6 Krtsge S S
. , Lackawanna Steel
103
- 1
36
19ft
138 74
FOREIGN EXCHANGE
New Yerk. June 10. While the for
eign exchange market, with only two
exceptions, hhewed (Mines today, it
could net be considered as reflecting se se
rieuHly the latest developments In con
nection with the efforts te perfect nn
understanding between the committee of
bankers and the French Government,
relative te the Germany international
loon nnd reparation problems.
Sterling was only 1-10 under yester
day's final. Interest was taken In the
first shipment of geld te this country
f-,n, T.nminn Kinrp rnrlv in February.
quoted at new low for all times at
.0008.
The premium en New Yerk funds in
Montreal today was 'JO-.'ll! per cent.
The discount en Canadian funds in New
Yerk was the Mine as the piennum en
New Yerk nt Montreal, 'at liO-.'t'-' per
cent.
TKSTERDAT'B CLOSING QUOTATIONS
Plerllng Fnnc Lire Oulldera
Demand .. . 4,404 9.08 8,15 31). 02
Cabin . ... 4.404 0.084 6.154 30.07
TODAY'S OPENING QUOTATIONS
Demand
Cables
Demand
French exchange showed a net less of I cables
3'Ti. Helglans were down -. "re uuwn
VA. Norwegian down 5, guilders aen
U.S. Certificate
1 and marks down I-?.
Compared with yesterday's final
figures, Swiss and Swinish were tin
ebaneed, Danish gained 2 and Swedish
3, the last at a recession of two points
ever the best of the day.
Quotations of Central Kurepcnn ex
riinntres are: Bulgarian, .70: llumanl-
Int.
Kate
an. .07V': Serbian, 1.46; Czecho-Sle-
vnkiun, 1.04 Vi: Juie-SIa
30:
llaUrlng
Date
'AM Aug.. i--
tM1 Hpt., 1032
t5U Sentt, 1022
3tt Oct., 1022,
BVi Dtr, 1'.'2
4'i Dec., 192'J
4U Men., 1023
.l June. 1934,
5V4 8pt.
M Men.,
rian
4 icn., )U.t. . . .1U3 -JIU 1
Kaempt from Federal nerma
nuk. 4.19! JTlnnlsa.
S; Poland,
"V.XT' ?." -.-j" I ti
A ...-... .LI- ..
M
EVENING PUBLIC LEDQEfe-rP&IlADELPHIA
Total salea. 898,400 aharss, compared with
1,103,100 aheree yeaterday. Thus far' thla
week, 8,871,200 aharai.
Dlv.
Last
7911
ft
ft
ft
'
1ft
ft
ft
1ft
ft
ft
1
ft
1
ft
ft
1
ft
ft
ft
ft
ft
ft
ft
'ft
ft
1
ft
ft
ft
ft
1
ft
3
1
ft
ft
ft
35 ft-55ft-31ft
64
117
112
13ft
43ft
153
54
88-17-22ft-48
-80
38-43ft-17
33 -38ft-71
24ft-
138
91
29ft-
14-
36ft-
11-
17
38-
22 ft
53 -
70 ft-
21ft-
30 -
3 -51ft
S4ft
5-17-65
ft -75
-89ft
82 -43
-28ft-26ft-105ft
62ft-43ft-
8ft-
74-
33ft-
I 10-
3ft
20
135ft-
13ft-
36 ft-
9
ft
9ft
42
10ft-
63 -20
31
38ft
t
39-
9ft
51
43 -89ft
64 ft
98 38
II
EO-
107 -
43 -
45
51ft
32
17ft
103 -
73ft-
It
ft
ft
1ft
1ft
ft
'
Wl
"ft
ft
ft
ft
1ft
ft
ft
52
34
72
ft
ft
92
12
48 ft
46 ft
62
27 ft .
47ft-
28 ft
46 -IB
-
4ft
7
10-
76 -
13ft
44ft
26-
45 -
88 -
52ft-
23ft .
53-
21ft-
' 92ft
109-
187ft-
115ft .
Slftf
5lft
119ft-
6ft-
8 ,
34-
11-
47 -46ft-
29 -80
ft
49
16ft
56ft
22ft-
136ft
38 137ft
t4 -33ft-7-54
ft
67 61-
105
41-
101
51
65
16 ,.
-r
68 -12ft-12
11-
ft
ft
ft
1
ft
ft
ft
'
ft
ft
ft
ft
ft
ft
"ft
' ft
ift
ft
ft
ift
ft
ft
ft
ft
ft
K
ift
ft
ft
ft
ft
ft
ft
'ft
ft
ft
ft
ft
'ft
20
20
61
98 ft
60 -14
25 ft-
27 ft
49
9
17ft
8r
44
52 a
Sales In $ High Lew
400 .. Laclede Gas of St L 79 ft 79 ft
700 .. Lake Erie A West.. 35 35ft
200 .. Lake Erie A West pf 55ft 55ft
300 2 Lee Rubber 31 31ft
1300 m Lehigh Valley .... 64 63ft
100 7 Liggett A Myera pf.117 117
100 7 Lima Locomotive ..112 112
500 .. Leew'a Ine 15ft IBft
100 .. Loese Wllea 45ft 45ft
400 12 Lerlllard Pierre.... 155 154ft
1300 .. Mack Truck 54ft !4
200 7 Mack Truck, lat pf 89 8
700 .7$ Mctr.'.yrs new .... 17ft 17
100 .. Malllnaen Ce 22ft 22ft
100 .. Manatl Sugar 48 48
100 7 Manatl Sugar pf .. 80 80
300 4 Manhattan El Supp 55 54
100 7 Manhat Elev Guar. 49 40
,100 2ManhatShlrt 38 38
3600 .. Marland OH 44 43 ft
100 .. Marlln Rockwell ..17 17
1100 S Martin Parry 33 33
530 .. Math Alkali 38ft 38
3600 .. Max Moter Clas. A 72 71
6930 .. Max Moter Class B 25 24 t
11000 12 Mexican Petroleum. 139 137
100 7 Mex Petroleum pf.. 91 9'
300 2 Mlnml Copper 30 29ft
5630120 Middle States Cerp.. 14 14ft
37CV .. Mldvale Steal 36ft 36ft
10rt .. Mln A St Leula ... 11 UH
2300 .. Me Kan A Tex wt) 17 17ft
1200 .. Me Kan A T (wl) pt 38 37
"00 .. Missouri Paclfle .. 22ft 22ft
700 .. Me Paclfle pf 58ft 55
530 : Mentana Power ... 71ft "Oft
230e . Montgomery Ward. 21ft 21ft
300 .. Mulllns Bedy pf . . 30 30
100 .. Nat Cen A Cable ..3 3
830 .. Nat En A Stara ... 51ft 51ft
100 6 National Lead .... 04ft r4ft
?200 .. Nn R R0f M 3d pt 6ft 5
1200 .. Nev Cen Copper .. . 17 17
400 N O Tex A M .. 63ft 63ft
200 . . n Y Air Brake ... 70 73
fOO 6 N Y Central 89ft 89
100 6 N Y p A St L 2d pt 82 82
500 2ft New Yerk Deck ... 43ft 43
94 . . New Yerk N H H 29 28
?00 2 New Yerk Ont ft W 26 ft 26 ft
100 7 Norfolk A Western 105 ft 103ft
50O 6 North American... 62ft 62
200 I North Amer pf 43 ft 43 ft
1000 .. North American rta Oft 8ft
1103 6 Northern Paclfle ..74ft 74ft
300 .. Neva Scotia S ft C 33 ft 33
400 INunallyCe 10 10
2900 .. ekla Pred ft Ref .. 3 3ft
200 . . Orpheum Circuit . . 20 20
100 a Otis Elevator 135ft 135ft
'22 .. Otis Steel 13ft 13J4
400 j Owens Bet Mach .. 26ft -36ft
t2 Paclflc Devel CeT- 9 l
13800 a Padfle OH 3 ft 62ft
3100 s Pan Amer Petrel ..70 69ft
1003 6 Pan Amer B 64ft t3
603 .. Panhandle 9 9ft
1530 2 Pennsylvania R R. 42 41ft
4500 .. pnn seaboard Steel lift 10ft
700 Peeples Gas Chicago 3 62
900 .. Peoria A Eastern ..20ft 19ft
1300 .. pere Marquette ... 31 31
600 8 Philadelphia Ce ... 38ft 38ft
7500 J Phillips Pet 55 E4ft
4200 .. Plerce-Arrew Moter 21ft 20ft
800 .. Plerce-Arrew Met pf 41 39
4100-.. Pierce Oil 9ft 9
200 s Pierce Oil pf 51 49
400 .. Plggly Wlggly St... 43ft 43
'00 7 Phllllps-Jenes pf .. 89ft 89ft
600 5 Pitts Ceal 64ft 64ft
100 e Pitts Ceal pf 98 98
3300 .. Pitts A W Va .... 38 37
200 l Pend Creek Ceal . . 22 21
200 s Pestum Cereal .... 1 0
500 1 Pestum Cereal pt ..108 107
4400 .. Producers ft Ret .. 44ft 42ft
200 . . Producers ft Ref pf . 45 45
3100 .. Punta Alcgrs Sugar 51ft 51
1700 2 Pure Oil 32ft 32
1300 .. Ray Cen Copper .. 17ft 17
100 8 Railway Steel Spg. . 103 103
2800 4 Reading 73ft 73ft
1 30 2 Reading Id pf 32 52
2900 .. Replogle Steel 35 ft 34
4933 .. Repub Iren A Steel. 73 72
200 .. Rep Iren ft Steel pf 92 92
3200 .. Republle Meters ... 13 11
700 .. Reynolds Springs... 48ft 48ft
1430 3 Remolds Teb B ... 46ft 46
38305.20 Royal Dutch N Y.. 3ft 62ft
800 .. 8t Leuis San Fran.. 27 27ft
100 .. St Leuis San Fra pf 47ft 47ft
1203 .. St Leuis Southwest. 28ft 28
100 .. St L Southwest pf. 46 46
100 .. Savage Arms 18 18
100 .. Ban Cee Sugar 4ft 4ft
800 .. Seaberd Air Lin ..7 7
2100 .. Scab Air Lin pf . . 11 10
1030 .. Sears-Roebuck .... 76ft 75ft
500 .. Seneca Copper .... 13ft 13
53088 ft Shell Transport.... 44ft 43
26500 .. Sinclair Consel .... 37ft 26ft
400 .. Sloss Sheffield 45 ft 45
2100 C Southern Paclfle ... G8ft 67ft
100 . . Se Perte Rica Sugar 52 ft 52 ft
1030 .. Southern Rail .... 23ft 23ft
500 .. Southern Rail pf .. 53 53ft
290 .. Splcer Mfg Ce .... 21ft 21ft
100 7 Splcer Mfg Ce pf.. 92ft 92ft
9300 4 Standard Oil of Call 12 108
3530 6 Standard Oil of N J190 187ft
100 7 Stand OH of N J pf115ft 115ft
400 tttSterllng Products... 51ft 51
200 .. Stromberg Carb ..51ft 51 ft
8630 7 Studebaker 121 119ft
430 .. Sub Beat Cerp .... 6 6ft
1330 ,.. Superior Oil Cerp . . 8ft 8
100 .. Superior Steel 34 34
930 . . Tenn Cep A Chem. . lift 11
19830 t Texas Ce 47 47
3600 4 Texas Gulf & Sulph 47 ft 46 ft
6300 1 Texas A Pae c A O 29 28ft
2400 6 Tobacco Products ..80 80
830 .. TStLAWpfcts B. 49 49
15830 .. Transcontinental Oil 16ft 16ft
100 2 Twin City R T .... 56ft 56ft
3930 .. Union Oil 23ft 22ft
1100 10 Union Paclfle 136 136
103 .. United Alley Steel.. 38 38
930 8 United Fruit 139 137ft
3300 .. United Retail Stores 65 63
830 . . U 8 c I P 4 Fdy .. 33ft 33
' 830 ..US Feed Products. 7ft 7ft
1603 ..US Ind Alcohol ..54 14
830 .. U S Realty A Imp.. 68ft 67ft
3203 ..US Rubber 63 61ft
100 8 U S Rubber 1st pf . . 105 105
4)3 .. U S Smelt A Ref .. Ai 41
18300 ID S Steel 101ft 100
100 ..US Tobacco Ce . . 51 31
1200 2 Utah Copper 66 65ft
500 .. Utah See 16ft 16
2300 .. Vanadium Cerp ... 49ft 48ft
200 .. Va-Car Chemical ..31 20 ft
100 .. Va-Car Chemical pf 68 68
700 .. Vlvaudeu Ine 12 12ft
2030 .. Wabash 12 12ft
800 .. Wabash pf A 31 30
200 1 Weber A Hellbrener 14 ft 14 ft
600 ..Western Maryland. 12 11
400 .. W Maryland 2d pf. 20 20
100 .. Western Paclfle ... 20 20
100 6 Western Paclfle pf 61 61
100 7 Western Union Tel 98 ft 88ft
3030 4 Westing E A M ... CO ft 59
1800 .. Wheeling A L E .. 14 13
800 .. Wheeling A L E pf 26 25
300 2 White Eagle Oil ..28 27 ft
1100 i White Moter 49 48ft
500 .. White Oil Cerp ... 9 9
200 .. Wick Spenc St Cerp 17ft 17ft
2803 .. Willys Overland ... 8 8
100 .. Wilsen A Ce 44 44
100 4 Werth Pump AM.. 52 52
330 1 Wright Aero e 8ft
DIVIDENDS DECLARED
Philadelphia Finance Company. nuart,iv e
per cent en prcfered A. 14 per cent
lerrea if. ana te cents per ahare en com
mon, naiable Julv 1 in afvlr Af wn.j
June 17. A epeelal 4 10-21 per cent.
able In common ateck, was declared en com
mon White Moter Company, quarterly of $1
pisable June 30 te ateck of record June 20
nenaaelaer and Saratoga Railroad Com
pany, aeml-annual 4 per cent, payable July
1 te ateck of record June IS
Nerthweatarn Telegraph Company, aeml
annual $1.50. payuble July 1 te ateck of rec rec
erd June 15.
American Wholejale Corporation quarter
ly 1, per cent en preferred. payable July
1 tn ateck of record June IS.
If. It. Malllnaen & Ce., quarterly 1
nr eeM nn preferred payable July 1 te
ate-k of record June 20.
White Eagle. Oil and Refining, quarterly
50 centa. payable July 10 le ateck of record
June 30.
Utrrllns Franca Lire Oulldera
4.4M4 9 054 5.14 30.03
.. .. 4.494 O.OAH 5.144 30. IU
CLOSINO Ql'OTATIONH
Sterling Franca Lira Uulldcie
. .. 4.44 0.054 5.144 30,00
. 4.50 0.08 5.15 30,05
and Treasury Notes
Reserve Bank' Discount Rates
Official rtdlaceunt rates at the twelve
Federal Raaerve Hanks are aa folewa:
nn
..100 7-32
. ..100V4
. .100 7-10
...loe
Aaked Yield
100 5-1A 3.9ii
100 11-32 3 10
100 17-32 3.10
100 1-10 3.20
i-emi
Paper
Hniten in i -itt
, . . me
100 1.1A
3.37
3. 39
S.48
4.0A
100 15-12 tee ft-is
New Tern a i.-i i
Philadelphia
Cleveland . ,
Richmond , ,
.100 10-82 100 9-18
. mat inn
IU24....1US
KiStt 4.01
Atlanta .,
Ch'cage .,
I.- Leuis
ireaa, uid
ctfs, Henda
4$ il
4V 4Vi 4 V. 4 'A
4ft 4Vi 4U vi
43 4, 4 Vi 42
4Vi 4"., 4U ill
1025,,,, 101 9.JS
101 11-104.1J
itta-in 4.U
i ii-i
102 1
C 1-IU
Income tai
inneapen
.' a
laoeats Us
"i i 4
!anaaa City ..;. g
alias .!.' m
B -B 8
sv ft i
, ATTJiBDAY,''MrtEl 10, 1922 '." .' ' '-A-V! " rH
' 1 1 11 -111 B4lMIM"n ii- , - ' . alijpl J&
NEW YORK BONDS
Net
chge.
ft
(SALES IK $1000
... aiu
Arcs Rip'e 7f
Se Perte K
7a rets
1....
. 004
. 004
. 994
. 004
Q 84a
1054
Hud A Man fd
2 83 Vi
Hud L Man In
. 2 82H
Ills Cent' I fd
1 83i
Ilia cnt'l BHa
10.... 101
Ills Steel 4 Ha
1 90
Indl'a Steel It
S 09 H
6 90S
Info Met 4 He
1.
100
1....
14...
4...,
1...
1...
4...
2...
1...
2...
1...
6...
4...
B...
3...
1001
100
ioeh
100 ,
lOOVi
1001
1001
100
100t
100H
4 08 H
1 em
State of Sae
C B A
Paule ct 8a
B.... 10S
3.... 103
1,...
IB
1084
1 Katie) 1054
1.... 1054
Maale) 1084
1.... 1084
1.... 1084
State of R O'e
Du Sel 8a
1.... 10IH
i.,.r 10m
100
109
Swltx'd Cen da
lO(iale) 1084
8..
1034
ft
ft
ft
1
'ft
ft
'ft
3..
4.... 117'i
B.... 118
City of Bercen
8i rets
2 88
City Berne 81
3.... Ill
City Berd'x As
1 88 Uj
3 80
7(le) 88
1.... 102
City of cpn
basen SHs
1 91
3 01H
1 01 !4
2 01 ,
City Lyeni Ha
1 884
City Man's 81
1 H
7(iale) 88
2 88
1 ftftVi
1 80H
Cty Rie d J J
nerle 8a wl
3.... 101U
a.... iei4
3..
1..
n
2!'.
1..
a..
10.14
1054
1034
1084
1054
1084
1034
9..
2..
18
U K Ort Brit
12
13
18i
IS..
A I'd 1022
B. .. 109 'i
B.
8.
8.
B.
U K Ort Brit
A I'd 1028
9.... IOO14
1.... lOftl
1.... 1004
B.... 1094
10.... 109H
18H
13V4
1.
S3.
C A G I 8a '81
Int M ct 4He
3 80
1 804
0 80
1 80
1 804
B,
18
12T4
1
8
B(aale)
3
B
Intb'e R
10
3
B
1
7
1
8
3
8
12H
U K Ort Brit
121
ft
ft
A Td 1087
12T4
7.
102V
Chi A O W 4a
12T4
1...
B...
1...
1,..
20...
102i
I02i
102V
! 01
T fd
C Ind A L 8i
. 08 Vi
. 0SH
. 08
. 08
. 68
. 8 S
. 684
. 08
- 1
4,... 108
Chtcaa-e Mil A
ft
ft
ft
ft
102H
102H
102H
St P 4a '28
1 70
1 79
8.
U 8 Bra 7a wl
1 084
0H
l OSS
Chlcace Mil A
St P d 4a
B 034
'ft
'ft
1ft
ft
ft
ft
i
ft
ift
3ft
ft
1ft
1
ft
ft
'ft
ft
ft
ft
ft
'
Ift
ft
'
1ft
1
'ft
1
Ift
. 08T4
U S Dram 8
Chicago Mil A
Intb'n
0a l
27. . . ,
20...,
Intb'e
7s wl
8...,
Rap T
2.
1044
St Pcv44s
3 894
1 694
8 604
8...
12...
2...
2...
2...
2. .
1044
104 '
104
104
104
104
104 4
. 95
. 94
6.... 101
Cty Rie de Ja
nerle 8a ct
Kflat) 103
Rap T
Chlcaae Mil A
StP fd 44s
1 034
Stale) 634
94 !4
Int'l A O Nthn
3....
B....
1 03
103
103
1..
aj w
U S Mexico 4i
Chicago Mil A
20.
51
51
61
B1U
8J
B2',4
7..
4
St P cv Ba
1 744
1 744
30 (ale) 714
1 74
31..
47..
20..
80..
10..
Cty Sae
Paule
8..
1..
1..
2..
2 .
474
484
47
484
8a wl
1...,
1....
1024
1024
City Tckle it
484
404
Chi A N W'n
B.
6
1 7m
Cty Perte Ale-
B.
Bs of '37
I M Marine 0i
U S Mexico Ba
1
1044
S..
97
are Bi
1.... 101
Cxecho-Slevak
15..
874
C R
I A
P fd
814
814
804
SO 4
80 4
P 4s
834
B..
10..
B..
8..
4..
n
1..'
97
97
97 H
97
97 U
97
97
97
5...
B...
B...
8...
5...
10...
10...
67
874
874
87 4
87 U
574
874
87 U
7....
1....
7....
17....
Rec 8i wl
l.
07 U
I..
2
V.'.
3..
6..
I..
II..
I..
B..
07H
974
07 H
074
07 H
C B I
10.
3..
.Chicago Union
Int'l Pap a 5
1 874
8 B74
Sta 44a
1 014
1 86
1 86
Int'l Pap b Ba
11 86
1 85
074
074
974
U'd S Merlce
Chicago Union
Large Sa
10 83
.... B44
8 844
5 844
Sta ct 64a
2.... 118
1.... 1184
1.... 1184
074
City Zurich 11
Julius Kayaer
1.... 112
Denmark Cen
ct A 8a
A Ce 7a r"a
1.... 104
2 103
Chi A W I 4a
AJax Rub'r Aa
.... 734
1.... 1104
1.... 1024
C A W I 74s
7..
3..
103
Denmark Cun
ct B 8a
Am'n Agr'c A
102
103
Chm 74s
1.... 1034
1.. . 1034
1.... 103
Chile Cep'r 6a
Kan C
iSli
1.... 1104
1 914
7 914
1 01U
08
Dept Seine 7
6 934
Kelly Sprlng'd
Tire 8a
2.... 109
1.... 108
2.... 108
2.... 108
Lack Steel '50
1 88
L E & W lata
1 91
Lake Shere M
S'n 4a '28
2 94
1 94
Lake Shere M
S'n 4a '31
2. ... 02
2(aale) 92
Leng lid R fd
0 78
1 80
1 86
1 86
I. ...
20
1
1
1
2
D Canada
034
034
034
934
93 4
93 4
28
Am Cot Oil 3a
Chile Cep'r 7a
103
n.... 1084
8.... 1084
1.... 103
7(ale) 108
2.... 1084
2.... 1084
Amn S A It lit
1ft
ft
ft
i
ft
ift
ft
'ft
ift
ift
1 024
8 924
5 .... 924
0 02U
1 004
D Canada ':i0
1.... 100
6.... 101
D Canada '31
1 084
10 00
B 084
American Sui
CI'd Cln Chi A
Iters 8a
St Le Ba
2 994
1.
1004
100 4
1004
1004
1004
1004
5..
8..
8..
8..
3..
C C C A St L
Ser A 6a
3 994
2 994
Columbia O A
De can '32 wi
1.
1004
Elec lat
1 044
1
100
100
100
100
Amn T A T clt
2...
6...
B...
Dutch
reta
2 004
4 904
C Tab A R 6a
1 064
1 004
A Tel A Tel 5.
E Ind's
'47
.. 044
2 074
Cen'd Ceal Ce
A Tel A Tel 61
of Md 8s
2 874
Le A Naah 4a
1
1
10
(Kaale)
3
10
1
1.... 1144
1.... 114V.
01
04 4
04 4
044
Cena'd daa 7a
Leula A Naah
Ant Jur Un'O
82.
B.
1184
Mone 4 a
2 81
Mar W 6a wl
7 004
B 004
B 004
1184
1184
119
119
118
110
119Vi
1184
1184
1184
118
118 V,
118,
1184
1184
118Vi
118U
118
A S 8a
- 1
044
04 4
04 4
Leula A Naati-
4...
2...
8...
3...
1...
8...
2...
1...
11...
?:?:
8...
2...
1...
10...
1...
villa SHs
25.... 104
5.... 103
ft
1ft
ft
'ft
ft
1
1ft
ft
'ft
ft
ft
1
ft
ft
ft
1ft
'ft
ft
1
2
3
'ft
ft
2ft
ft
'
ft
ft
1
ft
Dutch E
Ind'a
Armour 44a
rets '82
IB
1
1
O(aale)
10
1
1
S
2
1 904
1 00
Manatl Sugar
044
044
044
Ce 7Hs
2.... 100
A T A S Fe hJ
1 824
Man Elev'd 4a
044
044
044
04
04 4
044
4 834
A T A S Fe 4a
1 08
Market Bt Rly
B (flat) 884
8 (flat) 884
B 89
8 Fran lat
1 89
Market St Rly
Atla A Blr 4a
8 Fran 6i
Oeve't
France
1 09
9 04
M Oil rcta 7H
74 rcta
Atla'a Knox a
1.
101H
Cln 4s
8
1.
114
18...
2
2...
e
10'.'.'.
10...
12...
1...
1...
Geve't
20...
28...
14...
4...
3...
1...
, 1014
. 1014
85 V
85
Cuban
1...,
4...
4...
Marl'd
114
115
115
9 102
fl(ale) 102
, 101
A Ceaat
L rlt
. 1014
. 101.
. 1014
. 1014
. 1014
. 1014
. 1014
FRIi
. 1034
. 1034
1
1
9
80 4
814
814
Cuban C S cv
Oil 8a
1 80
101
Cuba e'e Sug
Atl'c Fruit 7a
M Oil wa'd 8a
8s ata'd
1 85Vi
2 85'4
1 85T4
8.... 118
1 44U
Mex Petr'm 8a
10.... 107
Mln A St I. 4a
Atlantle Re s
ct SHs
2.... 103i
Cut a Railroad
1.... 103!4
2 45
Ce 7Via
2.... 104
Del & Hud cv
1 98'4
D Hud 54a
2.... 100
1 99't
M BtP A S Ste
A Powder 7 Ha
Marie 0a
1.... 102
1034
1034
103 4
1034
1.... 100H
2.... 109
Marie) 109
Bait A Ohie cv
Gr'd Trunk or
2 824
Can 6a rcta
2 82 Vi
Den & R Q fd
1.... 1024
1 82 Vi
1 481,4
4 48V4
imaiej IQ34
10 824
1 82 Vi
3 824
3 82H
2 824
1.... 1034
1.... 1034
1.... 103U
Den R a 4a
2 774
.9 77H
Gr'd Trunk of
Den R O Ba
Canada T
Bait Ohie 4a
8!
1 1004
1 80
1 804
DetUR 4Via
Jap Oeve't lat
2 8214
1 01
4 014
B 014
1 804
Bait Ohie n
Det Edl Ce fla
2 99H
B 994
8 90 H
Bait Ohie 8
W'n SHs
8 SOU
6.... 1024
D de Nemours
ft
ft
4
ft
ft
1
i
Pwdr 7Via
B.... 107H
3.... 107 Vt
Jan Oeven't 4a
2 77
K Belgium ea
1.... 102
Du Light 7 Via
17 904
6 90 V
1.... 100
Emp Oaa It Y
K Btlg-m 74a
1.... 1084
Ball Telephone
7 Ha rcta
8 .... lOSVi
2.... 1084
1 ... 10H4
5. .. 1084
1.... 108ft
K Belgium 8a
of Pa 7a
40
08 Vi
08 Vi
08 V.
08 Vi
98Vi
98 Vi
98Vi
1.... 1074
6.... 1074
10.
3.
14.
0.
1.
10.
8.
8.
Beth Steel fd
1 92!i
1 93
1.... 1074
2.... 1074
1.... 107
Kingdom Den
mark ct 6a
1 084
1. ... 084
4 084
4 984
6 09
Kingdom Den
mark ct 8a
Oath Steel lat
1 90 H
98 Vi
98 Vi
Beth Steel 0a
1 99
Erie Oenl Lien
1 984
18 M
2 64
4 84
1 84
D 63 i
10 84
3 984
7 08
1 99
B Steel Ba '86
4 914
1 01V4
Erie II n cv A
Bkn Edl Ce 6a
8 BOVt
10.... 1104
3.... 1104
3 94U
Erie R R cv B
B Rap T ct 7a
1 80
12 50
8 80
1 ... 1104
1 82
- 1
".... 1104
K of Nether-
Buffalo Rech'r
A Pitt 4tts
6 00 Vi
Erie Ril Ce 4
- 1
- ft
- ft
landa 6a
8 64
2 64
8.
074
Buah Bld'g Sa
5..
20
7 .,
8 .,
8. ,
8..
974
974
1 904
Flak Ilub'r Ce
Buah Ter'l Ba
8a rets
4.... 1004
ft
074
7 81
974
974
Canadian Oenl
Fram'n Indust
-"ft
Elec 8s wl
8.... 101U
Oev 7Vi wl
2 08
2 09
1 08U
97 4
Ner-
Kingdom
Canadian N a
ft
way ct 8a
1.... 1124
2. .. HI
Ct'l P 8 h U
Gen Elee 3 Via
1.... 110T4
1 82U
:.. . 110
t.2.... het,
K bweden fla
1.... 102
2.... 1021;
.... 1014
Parla-Lyona M
Da wl
8 .... 8114
O(aale) 81 Vi
1 82
3. . . 81
Queen'd 0a w
l.... iei;
Cana'n Pac 4a
1... . 78
Gene' I Elec 5a
1 774
1.... 100',
1 78
Gene'l Elec 6a
Cen'l of Oa 0a
1 93
B 98 Vi
Goodyear T 4
i 98
Centl Fdy Ba
KUD'r "31
en pre"
1 91
101S
101Vi
101 Vi
10! W
Cere de Paa'e
r,w
Cep'r 8a
10.... 118
1.... 118
1.
(Kaale 101 U.
Goodyear T &
B...., HSU
Chea & O 4 Ha
Rub'r '41
1 ... IIB'4
i. . .. lUl'j
1 87 H
wueenara t.xt
Lean 7a
1,... 110
Republic Be
C O cv 4 Via
p Nthn R .'.Via
2..
87
i H
2 90S
2 99
2 99
2 09;
2 90S
1...
3...
1...
10...
13...
2...
4...
, BS
1 87
livia 8a nl
, 7 Vi
n.
101
, 87
0.,
1..
12.
1..
1.,
101
, 87 '4
lOlVi
, HK
Ot N'n Rly 7a
101
. 87 li
1.... 10S
7.... 109H
1014
C &
cv 5a
101
1...
1...
1...
. 93 U
1.
109 Vi
101H
, 93
O Bay ,
W b
11
11
111
11 I
11'
114
5.
6
101
ion;
, 92 a.
51....
1....
10....
10..
93
nep Chile '26
4.... !02'
Hep Chile '41
C A char Aa
1 07
uara.
Accent.
Chi Alten 3a
1
10
25(aale)
2.... 104H
Z5 00
4ft
uaaie iut4
Chi A Alt 3a
ll'i
tti
1.... 10174
13 49
Kelland-Am'n
I.... 105
1 49i
1 49Vi
1 49
Line 6a
2.... 1044;
1 OOH
2 00 Vi
t seu
nep c or uru
guay as
Chi B ft (j am
1...,
16
4 88
lift .1
Ckl B J 8s
lWaale) 00
4 91
1 91
8 01
Se'n Pacific 6a
1.... 103
Se Railway 4a
2 66
1 A4
l(aate) 102
I.... 101H
1
2
M K A T aj wl
3 92
27.
80
Kerth Western
10.
71
71
71
1...,
9.,,,
10..,,
45...,
B...,
80...,
10,.,,
IB...,
80
80
80
80
86
80
B6
50
T 4a
Bell Tel 7s
1.... 106
4.... 106
1.... 100
N Ohie Trac A
Light 6s
B 90
3 96
6 96
2 07
3...
1...
1...
2...
10...
a...
s...
B...
86
1 06
1 66
1 66
4 66
1..... 66
71
71
71
71
71
71
8n Railway 8a
1 94
1 04
7.i... 94
Me K
1.
71
1...
80
St L A 8 Fran
U K A T Sa wl
N Pacific R 8a
1 61
N Paclflc R 4a
S 86
Serlea B
1 85
1 88
8n Rall'y 8s
8 82
;..
99
MKTlt.w
10..
3..
a..
1..
e..
1..
3..
99
10 05
'St L A a Fran
99
Me Pacific 4
0(aale) 86
N Paclflc R 0a
Serlea U
3 98
1 98
St L A 8 Fran
am Bs
S 9
1 09
3 01'
St I. A S Fran
SHs wl
0 OS
6 95
Seab'd A I, aj
90
11..... 03
99
8 03
8 03H
2 (flat) 03
1 (flat) 08
2 03
1 03
1.... 100
99
99
99
Nat S Pwr Sa
00
Ore A Calif 5a
09
3 99
3 09
Stan O A E 0a
1 98
Mj Paclflc fla
Oregon S I, 4s
Steel Tube Ce
0 99
B 09
B 99
1 98
8 99
1 93
10 91
of Am'a 7a
1.... 101
1 101U
Oregon S Line
guar'd 8s
4.... 193
3.... 103
10.... 108
Term'l R A of
2...
28
S3
St Leula 4a
4..'... 80
6 80
M A O St I A
4.
Carle 4s
7 88
Seab'd A L fd
2 41
10 43
4 42
Seab'd A L 0a
3 68
3 68
Sinclair C Oil
C:rp 7i rcta
Ore-W R R Ce
Third Ave aj
Ment'a Pwr 5a
A N Ce 8a
8 81
10 81
19 81
0.
60
1 96
1 90
3..,
3...
6..,
6.
89
69
00
00
Merris A Cem
pany 4 He
2 88
Otla Steel lata
1...
le:
lO(aale)
til)
M A Ea'x 8Hs
1.
1.
1.
101
101
101
Third Ave 4a
3 79
6..
1..
08
08
08
08
08
08
08
98
08
98
1 OS
Naaaau Elec'c
Tidewater Oil
Rwy 4s
1 f.1
1..
101
2..
u.
4..
S..
8..
1..
14..
8..
Ce ct 0a
3.... 102
2.... 102
Paclfle M 8 S
New Eng Tele
Cemp'y 7s
1.... 102
6(aale) 102
Ce Ba wl
2 97
Tobacco Pred-
ucta C 7s
3.... 103
N Orleans A N
Pac T A T Ba
E'n 4 Ha
3 83
06
Teledo St L A
Pae Tel A Tel
Weat'n 4a
1 72
New Or Tex A
Sa rets
8 04
(Kaale) 04
33 (flat) 04
B 94
0 04
1 04
99
Meilce Ba
2 71
Sinclair C Oil
Union Bag 'A
Cerp THs
Pap Ce 0a
1 07
12 00
1 07
N T Air Bk 0a
13.
12.
IB.
4
6.
38.
a.
104
104
104
104
10
104
104
104
104
100
N T Cent' I 4a
6...'.. 88
Union Pac cv
N T Ct'l en 4a
Packard Moter
1 91
10 83
Car Ce 8s
1.... 107
7(ale) 107
UnlejLPac fd
10.,
... 82
Cent' I Ba
... 94
9 83
N T
i
t
Union Pac 4a
7.,
1..
5 ,
3.,
..
1..
1..
5.,
12..
Pan-A Petr'm
8 01
2 01
8 01
... 01
... 94
... 94
... 94
... 94
... 04
... 94
... 04
Cent'l 0a
.. 103
.. 103
.. 103
.. 103
. . 103
Cent' 7a
.. 105
.. 105
A T Ce 7s
Sinclair Crude
102
Oil PCeBa
10 99
1 99
Se'n Bell T Bs
1 93
1 04
Se'n Paclflc fd
B 87
6(aale) 87
2 87
3 87
Se'n Paclflc 4a
2 84
S'n Pac cv 4a
1 01
3 90
102
103
4a '52
. 80
Union Pae 0s
l...
2.... 103
Pa Rd
Unt'd Drug 8a
2.... 110
Pa R gm 4 Ha
U S Rubb'r Bt
91
01
01
91
R Ba
99
99
99
99
0a
10
109
100
100
100
109
109
0 80
1 89
n r
i..
i..
i..
3.,
1
20
U 8 Rubb'r 7a
!.... 103
Penna R
U S Rub 7a
1
3
fi
1
1.... 107
1.... 107
N V
U 3 Smlt R A
4..
1..
1.,
1..
Mln'g 0s
Penna R
105
105
Central
1....
3....
1....
1....
1....
9....
10
Total 19.794.000 MmnlHri nrlth t17 IMA
000 yeaterday. Thua far this week. 82,-025,000.
N Tk
I. S'e 3a
0 74
N T Edlaen Ce!
GRAIN MARKET
Trev. cleae Opening 11 A. M.
0a rcta
1
100
109
109
100
100
20..
100
Cern-
2....
3....
1....
1....
Penna R H 7a
July
0
108
108
nepiemrjer
December
Wheat
July . ...
September
December
Oats-
z
3...
1...
109
A K In
. 35
1.15
1.14
1.10
36
384
40
1.151.16
1.141.14
1.10 1.18
Tk N
H A
Peoria
H cv 8a
1...
2.,... B2
2 62
2 63
.. 83
.. 30
.. 30
Cnty fd
.. 07
.. 07
.. 07
July .....
36
88
OOH
0..
0..
septemeer
December
Rye
New Y N H A
Polls
H 4s '88'
2 B8
2 B8
July
1..
Heptemeer
Lard-
1
July .....
September
.11.65
.11.87
11.52
11.82
New V N H A
Phlla Rwys 4a
Hart'd 0a
B 70
2 79
2 70
2 62
8 82
COTTON MARKET
Pierce Oil 8a
1.... 100
Prev. Cloae Open High Lew
N Tk Rlya 4a
Pertl'd Rwy A
July.. 22.02 22.00 22.38 21.05
1 80H
Light 7s
1.... 104
Oct... 2Z.UZ Z2.1U tf4.n ?!.1IU
Dec. 21.80 21.90 22.03 21.70
Jan.. 21.72 21.79 v21.88 21.00
Mar.. 21.60 21.65 21.78 21.40
Spot, 22.83.
New Tk Sueq
A W'n fd
B 07
7 07
Preduc A R 8s
1.... 102
Pre A Refiners
N Y Tele'e '41
war'd 8s
1.... 116
1.... 114
1.... 114
LIVESTOCK QUOTATIONS
Pittsburgh. June . li HOOS Receipts,
1B00. Steady. Heavies, 111- heavy yerkera
and light yerkera. 111. 20011.33; pigs.
il1.20tm.2.V
SHEEP AND LAMBS Receipts. 600 head.
Steady, Sheep. 87.25; lamba. ill. 50.
CALVES Receipts, 100. Lewer. Tep,
11.60.
East Buffalo. N. Y June 10 CATTLE
Recelpta. 7B head. Steady. Calvea, receipts,
850 head. Steady; S3012.
HOCJ3 Recelpta. 1000 head; 10020c lower.
Heavy. S11O11.20: mixed, yerkera, light
yerkera and plga, 111.30; reugha, 10; ataga,
1506.
SHEEP AND LAMBS Receipts, 200 head.
Steady, uncranged.
BANK CLEARINGS
Bank clearings today compared with cor cer cor
reapendlng day laat two years;
1922 1021 1920
Phlla 172.000.000 64,900.268 $85,184,415
N. Yerk 823.100.000
Itnaten. 74.000. 000 47.831.1U0
2.... 104H
1.... 104
3.... 103
N Y Tele'e '40
Reading Ce 4s
1.... 10B
6 84
N Tk W C
Rep'c I fc 8 6a
Beat 4s
1 93
3..
B4H
Rie O A W 4a
12..
8..
I..
2..
67 V
1 78
64
64
B4
64
64
R Sa
87
07
Reck Il'd A A
Leul'a 4a
2 80
St L I'n Mt A
10
8 Rly 4s
1 86
S (sale) 80
Nfk S'n
3
1
1
St L A 8 F aj
08
3 78
Kaale) 78
St L A 8 F In
3 07
2 07
7 07
N A W cv Oa
3.... 108
N A Edlaen Ce
6a rcta
S 02
Chicago.. B0.2Q0.0ne
$3,000,000
Minneapolis, St. Paul &
Sault Ste. Marie Railway Ce.
Twe-Year BlA Geld Notes
Te be dated June 28, 1922 Nen-Callable Te Mature June 28, 1924
Total autherised and te be presently Ujued $3,000,000
Coupon Notes of $1,000 denomination. Interest payable June 28
and December 38. Principal and interest payable in New Yerk
BROOKLYN TRUST COMPANY, TRUSTEE
The notes will be the direct obligation of the Minneapolis, St. Paul and
Sault Ste. Marie Railway Company and are issued te provide for the
retirement of the $3,000,000, 7 Notes maturing June 28, 1922.
The Minneapolis, St. Paul and Sault Ste. Marie Railway owns ever
3,286 miles of railway, extending east and west from Minneapolis and
St. Paul, giving these cities outlets te the Pacific and Atlantic Coasts
in connection with the Canadian Pacific Railway, which controls the
?mTCr $y ewiiershiP of a majority of each class of stock. The
Sep Railway Company in addition controls the Wisconsin Central
Railway of 1,020 miles as a division into Chicago.
The company has outstanding $12,603,400 preferred and $25,206,800
common stock. Dividends en both issues of capital stock have been
paid in each year from 1903 te 1921 inclusive.
We offer rAese nerea ter delivery when, as and it issued and received by us and aubiect te
pmny or Dillen, Read Ce. interim receipts exchangeable for definitive
notes when received will be deliverable en or about June 28, 1922
Price 100 Te Net SV2
Dillen, Read & Ce.
The informatlea contained In thla advertisement hai been obtains! fr ... ., .
WWIe net (uarantert. it i. ." p bf,r aacl w.?e.Wb'Ch ' Cea,Uw rdl,U!8-
Ordar. h.v Usn , r.clv.d In .xcaa. of th. .mount of bend, offered.
Thla adv.rtlMm.nt appear. .. mtter of Mcerd en,y
;;;:; a S SUiiiffi AMFRPAN mwm
I 10 87 s..... rih i,,,. iem 1 1IIL-Illirtl1 Ullllll al tf i,'-
IS 6TH Se'n Paclflc B 2.... 101H """ w WI1UU . iX
02 St L S Fran 1,.,, 103 li... 101 i MmAilaiA :.. il 7,
92 Series A 9n ltallway 4a 2.... 102 Wll III II H lirill lllll
8 (flat) 71 4 2 8A ....! 10ti ULltl ULII ML III I III 111
!::::1K nLMUMLUnUinilin
Utah I A I- 5a
6 00
1 00
7(sale) 90
Va-c Chm lat
B 99
Remarkable Comeback of All
the Leading Public Utility j
Corporations
Va-C Ch 7a wl
20,
98
1....
4!'...
a....
1....
98
08
98
98
98
98
Lecal trading1 was unusually bread
and active for n Sntuitlay market, but
price movement was very irregular '
which was logical In view of the uun
settled condition of. the ether ex.
changes. Variations, however, were
Bencrnlly confined within a narrow are
reflecting the absence of selling prei.'
sure. The utility group continued the
strongest features, but this division
also chewed evidence of preflt-taklnt
Inter In the day. It was the stocks
having a dual market here and New
lerk that showed mere noticeable r.
nctlenary tendency. Electric Sterare
Battery declined a point, In the carlv
tradins te 43V,. It Inter fecnvrA S.'ia
1.
08
Va-C ch 7a
20.
105
1...
IB...
6...
2...
25...
105
105
105
105
103
1..
1031!
Vawy Ce 5a
2 05
1 05
1 98
1 00
Va Ry A P Bs
79
Va A S W en
3 81
Warner Sugar
of the less. "nl1
Ref'- 7e
1.... 100
2 90
American Stores was the foremost fee.;
ture of the local group, establishing a
new hlith record at 1249,. In th
late trading It fell back te 124. Amer
ican Hallways Issues remained strong.
nnd active The common recovered tn
13. or within of the high price of
the week. The preferred, en light trad
ing, mnde n new top at 61. U. O I
common and preferred, for the fW
time, sold nt the same price at 54, the
common subsequently reacting te 834
Pennsylvania Railroad was firm, HI
spite the henvincss of the ether rails
Westmoreland Ceal, en moderate deaK
ings, advanced 2 points from the pre.
vleus t-nle te 74.
Of the vnrleus groups of enterprises
In none has the "comebacks" been en
such n sensational order as that of the
se-called utility shares. Less than two
years age a great mnjerlty about
reached the conclusion most of the stock
certificates of these concerns were hardly
worth the paper they were printed en."
Between getting a "square deal" with
the various State Public Service Com
missions in the granting of fairer rates
nnd the return of rational prices for
supplies nnd materials, the public util
ity corporations are today once mere
solidly en their feet. Their ability lu
meet interest requirements of thai
Weat'n Md 4s
1 03
Wea.lnghs'e E
A Mfg 7a
108
107
107
100
B..
3..
1..
Whl
ILEIa
4.
72
72
1.
WALE 4s
1 68
Wlckw'e Spnc
Steel 7a
7 08
7 08
Wllaen Ce cv
10....
e
i.'.'.!
4....
2....
n
92
. 92
. 92
. 92
. 02
. 92
E lata
. 07
. 97
. 97
. 07
. 97
C 7Ha
103
103
103
103
W-B A
1....
1....
1....
1.,..
4""
Wllaen
10....
1....
1....
1....
a
8
103
Wlacen Ctl 4s
funded debt is no longer questioned,
but n number are rapidly getting into a
condition where they can safely resume
dividend payments en stock issues.
In brief, the public utility corpora
tion t-ccurlty gives every premise of re- '
turning te the prominent position it oc
cupied prier te the war. Experiencci
of the wnr perletj. wcre perhaps very
unpleasant lessens, but they will be
nreductive of much pnnd In nn fnr
1 80
02,
05
61
1.1.1H
1.14
1.17
36
88
40
producing in the future a mere cce?'
nemlcnl nnd efficient management.
Well-forged consolidations ought te
bring economics, nnd buch unions will
bring favorable results ever a fairly long
period.
Striking illustrations ns te what can '
be accomplished by enterprising and
consistent management arc given in the
case of both P.'R. T. nnd that of
American Knilways Company. In the
former, n great lessen has been taukt
In the humane nnd intelligent handling
of the labor question, which heretofore
has ever been a thorn in the side of all
utility mnnngements. In the American
Hallways, the accomplishments of the
management within (he Inst I we years
show conclusively whnt can be at
tained when earnest effort is made in
the application of drastic retrenchment
policies. The economies which util
ity corporation managers were forced te C
adept prier te nnd succeeding the artsl
stlce are almost immeasurable In dol
lars and cents In the savings which
these enterprises have been able te make
and will continue te enjoy for some
time te come.
Today's Range In Liberty Bendt
HI eh Lew Cloae
Liberty Ss 100.04 100.00 100.02
Liberty 2d 4s. . . . 00.84 00.S4 00.84
Liberty 1st 4 Vis.. 100.00 00.00 00.06
Liberty 2d 414s.. 00.00 00.02 00.04
Liberty 3d 4Vs.. 100.04 100.00 100.02 "
Liberty 4th 4 Vis. 100 00 00.0S 00.0S .,
Vic Notes 4s... 100.08 100.00 100.68 '
30
87 B
11.80
11.80
Cloae
22.31087
22.22(P20
22.01 Si 05
21.8508S
21.7378
I
t
i
.
5
.0250;
Austrian
,... MV
rt.
K'rvjr
l
.i'irpxi,rirl j,-,h.
f
.'"tf -J.1 vjv
tyy.-Ti.,;
SiAjdiA
2J?.JC ,.- eCi JjUil
"pvij'.'y.L
S .
r.. "fliMiii,.irri.HV
due ea date of aMwrttnj
ie
awmmnmmi--
Hl
1
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