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16 ,
EVENING PUBLIC LEDGER-PHILADELPfllA, , SATURDAY, JULY 8,, ,1922
MARKE
I
emus
t
i
UNSETTLED
".'Overnight Advices Emphasized
" Increasing Gravity of Euro
pean Situation
i New Yerli. .Inly S. An tinnVrrurrrni
of nervniitieN vvhh tl 1 - eriilble in i
tlny'5 brief i-len In tin- s'ei'l. m.irl e
which found outward" rrtleetlnti In tlie
uneven prlie movement. Thin vva pii-
ily chnrceable te evrr-nisht nilvleri fumi
abroad. riiiihsilins itinralm,' sr.n'.l.v ,
fef the nuinpc-in -Ituntinri. Irregular-t-it.v
followed llie lie-Itjint eprnlnc. with
-pvlitemc of sonic ll'iniilatlmi In tlr el
1mip., vvlili'li In tlif er.iul hour (level- j
eped pronounced weakness. Wide dp- ,
clinc eirnrri'd in pvrr:i' "f the "'
lcrtcd l .in" tliuf hnd I n marked "l '
sharply in iIip two pre rdiiu Msnii.
which.' together with cniitinnpd pre--Hire
ngnln-t tlip .len-in mU. tended
mere or 1 . iiniltrinln" ili cenera!
list.
Trading in the 'nend division vn ex- I
tretnel) lislit and few 1 iip- showed
merp tlian fru'tlminl ehansp. l..ber- t
ties continued te case en fttrtliev ptefit
taking. The only le.iture of note In the
feri-icn siuiip was a 1-pnlii' ilecltt'e
for I'ipiiiIi (ievprnniPiit Ki-inr.r-wni
hnn hv Ktiim.s Otv Southern
St. Limn and S'in Pramd-Te ndfu-t-mpnt
(U, Wabali .", I'nitPd S'.ite
Steel .V. fViui iW l'.voe s and evTra' ,
of thp loenl traction'. ,
As met everv h.vly w pntlrply nr
iificil vii tli" performance of thp mar
ket for thi' lirsr In If of 10'J'J. there I
iinturiillv nt tin- moment quite a bivhI
deal of spi'Milntieii what will be the
liarvpt of the last half of ihi ".nr
The nVt wevk of tins ppriml 1 irdlj
trlve? any atifartnrj mitl ip a te wha
may lip pvpi'ted. In far a iln i;-n-rnl
situation is "en'crnp'l. the tirt half
of tli.' pjir a en. nf anticipation an I
thp last lulf will nnqiiP'tliin.'ihljr be u
gradual iuatp''liiliraiiin. r iTjstallyn-I
tien. of r'l"-.- l.npps Thereferp. th
iiueytmn te c.. fttrmined in the miiid
if all iiin.'pnml is uliPtli.'r the ieivm!; '
Jresperit hn nuslit lp null the mar
et. Siieh n decision mut hnre an
important wvisht m fratnin: judampn'
ns te the imini'ili'itp f'lt irp, both from
n speculiitiKi. elid ,nMt!!int lew point
C'einppK nt autlinrltips ixprpss tin
rentidpiit '..lief ..;' iii.tp'is n businp-
and indu-trial ar'.vitj during the re
mainder nf the unr i ine deuh'-'
but that the-.' I,.. i-s wi In- fultUlp.l
Thi; pri!nii. i turf In r hi-ii;hinpd b
reason nf tl..- climm;iti,,ii i.f disturb
ance from t. tliivrit" in d i.ulread l.iber
trotibles nnd tli" Inu'litpr presaist nt
an early si.clriucnt ,.f ,p .- .n 1 tnk,'
The lnttir Is l,"uitinnitf M hiiM its ef
fect in ipstrii tine indu-in.il n tivit.
therrbv iirniiiptinK tn,,rp eu'itipni- ef
forts i,n tl., pntt nf il.f i inicrii'itPiit fn
u pein nil riMiinptimi nt cmil luinlns
at the rfir.lit pe-il)l' lumin'iit. With
this .stmnblnirf bin, k nil' :" the unj n
ironeuiii'"d ipili ki'ii.nj nf trad" l
almost i "rtain te t'dlnw :
As a matter of fn, t. uheu' th" enh
ical hnndleap remalnini: i iIip season,
able mi, iTtalutj a- te th" ultimate nut- i
comp nf tlie i'iiip Itnintifiil lmnpt
would iiiplj both a pnwnrful stmiiilu.
and i in pi tu te t'li-ral lmsnis ns thi
pros-perm of tli" ..iaiiiultiir.il idi'ment
Is an p"i'titi.il adjunct in tli" teonn teenn teonn
htmctlen lu'nxi'am. Sn w 1 1 1 1 tin' neek ,
market has run iibcad of ij im poii peii poii
ditiens. l,ism"-s uppnr'iul. lias mad"
no effort tn anticip.it", but latlicr n
mtlslieil te wait, tli" rc.il noeiimplish neeiimplish
ment. Ter that ipunn. tli" gi-n'Tiil
business situation of ihe ..lintry N ipn-ei-all.
admitted te In- mi a xiuiul and
healthy foundation and rad te i"spnnd
te the cnntnbiitlns "l"niints of njuvp
' nation
While brnvl re.T'ti.in In the stock ,
market dunnc the past four wpeks from '
the hifth imints nf tlie forward suing na
(diminatpd tnanv nvpr-pt"ndi-d speiuli- '
tivc lines nf lung stnek, anil the techni
cal pn-itinn liiiul" enrrpspiindinslj !"
precarious, it i-, ti"erthplesi, dnubtfu!
whether tlie adjustments have been suf
ficiently completed te warrant a re
sumption rf the i nntructivp campaign
in the near future It", ngnizi'd author
ities as will as the most mnervatlv"
market inte-e-t-, aie unmnmnuN in th"
belief of a hi - Lull niatkit in thi- fall,
hut most nf them likewise feel tneiv
ftheuld. and w I! be. a per nil nf r"r
and renewed a. , tiinuiutmn before the
"fires an hiaMnl utider th" H.ni'ativ"
boilers again.
NEW YORK BANK STATEMENT
Heavy Reduction In Leans and De
posits -'Excess Reserve Increased
The in 'u. il statement nf th New
Yerk I'leiitiiig Heuse insti'titiei
:hewed .in in, i ".ism nt .-s J1 .lilli,(i)0 in
'men" in n, i-ss ,f l.-b'.i I im nreiin nt
Leans mi, I ii-cnunt inrc cut down
$lt!,.'i."0.(M)0 tins w"ek and demand de
posits fell off .!.lfii; fifM). With th"
reduceil liabilities, leserve eridit at the
Federal itcsfrw. Hank inrreaM'd Sh,.
-K3,000, resulting in iiicivusin,; the ex
cess reserve tn S.IT.'.miT, i!i.
Details fnlln'v
!'., .. .
J-tCst res r, I . II", . i .( sit ITe
ACKreK'iV ..- . " 7 -,;,,, ,(., ,,
I.eana .n- t ;") .11 I ;' i th-,
Ciinh tn i u is
.and m m-j -r
bankH . nn .'.36 iv riTiT.nne
Jletr In mi rn
ter Mriks in I
reifrve UnM 5.1S 2ee one r.jn spi een
Iteterv.) In lt1
bankH 4. trust
cempiines 7.108 "00 7 417 000 '
JXeaerve m Smi
bankit A. mm '
company U. v - i
Herlen 10 201 CM lemqnn
.t rteman'l '1- I
pebUh ,4 I", n:e nne 4 I'.e nr noe
Tune lr!'.i .. 417 'HI inn j;i "j. nrn
f'lrcul.iii -i SJ.li'iiU'M 34 '.s i i,i
I . S ,'. pnii 's
deduc". i . as !i7i. inn tin r.nn ne.i
AfTT VI.
Tli i u. ' I -rvk
Kxrtu r'"t' . 17 U',7 pit HI SH7 41,(1
AKEreKai re ',77 Oi'O mm r.nti.310 uen
lean. f I.PiKU.Ma in ,, I 737 sti? ii'm
( ah It, v i i.'h
nn'I m. i" luims iv." !. nun .,.", 307 niie
Ileerv.t in iiv m
tr j.ink nn.l
r8rvn lalKs .',00 .11 OHO '.'1.700 000
)Ugeru in Si itt
bankn nn-1 trust
t-eempanlcH 7 081 "no 7 107 eftn
JleserVH in si itn
" tianka nn1 in.in
rempany U. pi.iil-
J'la , , ter;,- nr.e 10 3.13 een
Jit rtPmand de
posits M nil n-,s 'in 1 1.11 1:1 nun
Time i1iieiii ir.j L'nt nnu 411 10'nn.i
'jjculi;tlin .11 11. 1 "in .11, ilo.Oen
u H ilpei.t
NEW YORK STOCK MARKET
Only Afternoon Repert in Philadelphia Quoting Fult Litt
Today's sales
Yesterday's sales . . .
Total for this week.
. 380.000 shares
. itin.eOO shares
, .rt.O.iri.OOO shares
L
OCALS STOOD UP
niv.
?! in t
300
1200
930
100
603
103
200
103
100
10630
103
100
101
100
103
300
333
733
231
100
700
1003
100
100
530
303
20
93 3
331
600
700
1503
603
3200
100
15'JO
300
803
313
100
600
200
4500
B233
200
200
1C0
933
3233
COO
103
100
100
200
600
1433
200
1400
403
403
100
531
203
403
1103
833
833
533
430
503
830
630
3230
3530
633
2830
133
100
2230
503
38.X3
7730
233
103
1500
103
100
30U
25 A)
8 30
PTOCK Hill
Adams KtereBS 62 vj
.. Alaska Juneau O M ' '
4 Allied rhem & Dye 69 U
1 Allied Ch ft Dye pM09i
Allli.Chalmers .... 50 tj
.. Am Aprlc rhem pf. 64 "2
Am Heet Siiffar.... 45'i
.. Am neeh Magneto 41 'j
T Am B Sh P pf ne108
Am Can 51
12 Am Car ft Frtv 161 i
" Am Car &. Fdy pf.12t
. Am Chicle I'
.. Am Cotten Oil.. .. ?6'3
Am Hide ft Leather 13 4
Am Hide ft I.eath pf 69 's
7 Am Ice 105 r i
.. Am Internat Cerp.. 42 14
6 Am r.oeemotlve. . . . 1 124
4 Am Radiator 95 'j
.. Am Shin ft Cem. .. 19'(
. Am Pmelt 62 H
7 Am Smplt pf 97 4
12 Am Pnuff 134
3 Am Steel reundrles 36 H
. . Am Sunintn .... 40
R Am Tel ft Cable. ... 59
0 Am Tel ft Tel 1 20 H
12 Am Tnhacee 142'
.. Am Waterworks .. 17
Am AVitrw-k, et pf 41 4
7 A-n Woelfti 90 T
.. Am 52 nr I,,i ft Smelt 18
.. Anaconda Copper .. 53 4
6 Apje Oil 112
6 Atch Tep ft San Fe10l ''s
6 Atch Tep ft S P pf 90
.. Atlan'lc Frilt 2'i
.. All Oulf ft W I S S "57 H
.. AH a ft v I S S of 26
.. Austin Nlchelg 28 i
7 Austin Nichols pf . 85
7 ISaldw-ln I.ocemotlvel 15
.. Pilt'mere ft Ohie. . . 51 'i
4 Haiti ft Ohie pf. ... 62 'i
. nar-idal Class A.. 34 '
. BamFdnl! C!as n . 29 4
5 Rth Ptel B 76 i
. nkh-n Itapld Transit 28
. Pkh-n U T ctfs of db 23 1
5 Hklyn fnlen Oai . .110
.. nrl Km -'eel 2d pt 30 4
. . Urewn S'hee . ... 49 'i
. Itmniulck Term... 3 4
s Jiu-ns Bies 132
2 Burns Bres B. ... 45 5i
. . Butte ft Pup Cep... 29
.. California Titrel... 65
.. Cat Zinc ft Ivad.. 6 4
10 Canadian riclflc. . . 140 '
. i"aie J I riew 6
. Central Leather.. . 3B 4
.. Central leather pf. 70 H
.. rrro-de-Paee .... 37 '
6 Chandler Meters... 71
4 Chesapeake ft Ohie 68 4
.. Chicago ft Alten.. 104
. . Chlcace ft Alten pf 19
.. CM ft K Tit (new).. 36 'a
. . Chi ft K 111 fnew) pf 55 4
. . Ch'cafre ft C,r West 9
. . Chi ft !r West pf 21 4
. . Clil Mil ft St P.... -8 '4
. . Chi Mil ft St P pf.. 44 14
5 Cht ft Northwestern 77
. . Chi n 1 & Pac ... 44 '4
7 1 'hi n I ft Pac 7 pf 94 X
5 Chi St P M ft O .. 66's
.. Chile Copper 2 26
. . Chine Copper 30 4
1 Consolidated Gas ..i20
4 Ceca Cela 72' 4
. Cole Fuel ft Iren . 31
3 Cel ft Southern.. . 43 i
6 Celum Oafl ft Llec . E8 4
. . Oelum Oraphophena 4 v.
Cel r.r.tnhoiinen.. pf 17 4
6 Cemp'it Tab Bee... 65 4
Conel Textiles. ... 114
4, Cern Products Hef.103
5730 24 f.edn ft Ce 49
2200 .. Crucible Steel 74 a
230 . Cul.an Am Suirar . 24 H
7 Culjau Am s.iih'ar pf 91
. . Cuba Cam- Sujjar . 164
.. Luli.i Cane Susar pf 36 Je
. . Davisen Chemcal.. 47
0 L. . L.i. k ft Wtst ..128
i lmir.. Mines 30
6 Kasttr. in Kodak, no 72T3
3 Llec S'eraBc Bat.. 44 4
Lmirs 111-BiaiitinK . 8
Vzw raen-Brant pf 36
6 Lniiicott-Jehnson .. 80 'a
.. Lri. leJa
.. Kn l.si Pf i4,j
.. hrle 2d pf 18 4
8 Famous Players L 624
S Famous Players pt 94 a
5 Fed Mir. & Smelt nf 50 4
in F s'vr Bjdy .... 1 17 "2
F.sh.-r Bedy of U p: 87 '4
.. Fisk Rubber 1 5 Ta
.. Freeperl Texas ... 24 J4
.. General Aspnalt.. . 7
5 Gneral Acphalt pf102
6 Gn-ril CiBa., . ... 78 H
, Gen cigar uee p:. . . iui "2
s, General KU-ciric. .
. . General Moteri .
6 C.tn Meters pf .
7 cn Mnt den 7C.
. . Gllild-n Ce
. Goedr.'ll B F
7 Goedi n-li B F pf .
. , liranbv M.nins. .
. . Gr.i ft I) iv. a. .
7 Great Northern pf
4 Great Ner Ore cits 39 4
.. Greene Can Copper. 31
.. Guantanamo Sugar.
. . Gulf Mebl.u ft N pf .
. , Gult States Sttel . .
.. llaMibhuw i:i..ctrlc
. II end. Mfc ...
.1 HumuUit.. MmmK
.' Hudsen M CarP
1 Hupp Motorcar
. . Hylia Jl c .'steel
7 Illinois Central
.. Inspiration Cen Cep 41 yH
.. Intir Cen Cerp 14
Inter Cen Cerp pf . 3 4
, Ir.ter Arlc Pf 33
lnurnat '", mmt. . . 24
Intern ii Cem KnB . 24
Inl Hi. at N'erth vl 24
f. In' IL.rv.st. r new. .1004
In- -M.-i Murine... 18 H
C Int M- r Mai no pf . 73 4
Iniernai.enal Nickel I'j',4
Intctnaiienal 1'aper 50 '
i lnt.r Paper pf stpd fcb
. Invindbli OH Cerp. 14;,
, Iren Products 35 4
. Island Oil !
. Kansas ft Gulf
. Kan city Southern.
4 Kan Cltv Se pf
Kell t-Spc Tire
6 JCelwy Wheel
tee
433
22JJ
330
200
130
3J3
0JJ
200
100
200
13JJ
8JJ
1033
630
103
200
203
103
7jJ
33.1-1
84.iJ
103
2 20 J
100
103
11833
1GJ
30J
1200
30J
103
203
100
2I0J
6JJ
100
100
300
803
03
10J
100
L.O
6JJ
20J
10J
400 . .
200 ..
100 .
100 .
100 24
30J -1
3J3
(SjO f.
2-vi .
10 JJ c
1700 .
20 J i
430 . .
393J ..
203 ..
100J ..
800 ..
100
500
100
.. 168
. . 14?4
.. F3
.. V3
, . 164
. 19 4
. . 88
. . 29 ',4
.. 17
. 60 H
12 4
40 4
81
1 "2
:2S
71
. .'3 4
19 4
11
IC8
4 4
26 4
57 4
494
95 4
I.nw
02 4
14
f9
1094
49 V
64 ij
45
41 4
108
494
161 4
121
11
26 4
13 4
69
1C44
414
1124
95 4
19
0 4
97 4
134
?6 4
391
59
120 4
142
154
404
89 4
17i
52
112
101
89i
2
-7 4
26
;74
85
1134
49T,
62 4
14 4
29 4
75i
T6i
234
110
30 4
494
34
130
44 s
28 4
124
84
39 4
6
?7H
70
T64
;e
8
'04
19
36 4
5
84
-1 4
74
41
-5H
'34
U4i
fc6 4
.7 4
29 4
-.184
69 4
31
484
7 4
4,
174
t4Js
11
1C2H
47 4
2H
24
91
16j
354
464
1274
30
72 4
s4
8
35
80
i6b
23 4
18
61 4
944
494
117 4
87 4
154
34
65 U
102
77 4
101 4
168
14 4
fc3
34
16
i9
83
29 4
17
79
J9
31
124
40
78,4
14
22 ?n
71
-24
19
104
IC8
41
1 "2
3 4
38
34
'3.4
.3H
100 4
18H
;2d
164
49 4
ca
144
.4
a
4,
.'5
57 "4
47 4
G5 4
i
14
2
H
M
'i
1 J4
tl
1
i
1
t 4
i
4
1
IS
H
Vi
4
1 i
"4
4
4'
1 i
34 I
Hi
" ,
V
"4
14
3
2
v, ;
2,!
1 ,
;
1 4
Vt
4
4
"i
1 4
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1
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r,
u
1 4
2g
H
1 4
4
4
1 4
14
1
4
14
4
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4
:.
4
1 4
la
h
it
2
4
1
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4
Teilav's Nt 1
Clese Chire. 1
62 U - ' " I
1 '4
FD -
1091
49 V -64
4
45 -414-f
108
49 14 -
161',-
121
11 -26
4 -134-69
-
1044 -41
4 -
112 4
954 19 -CO
tj -57
4 -
134
36 4-
40
59
1204-
142 -
154-
41 -89
4 -171-52",-
112 -
101 -
89 "4 -
2S-r
37 4-
26 -
27 4 "
85 -1
13 i -50
-624-34
4-
29 4 -76
-26?;
-23
4 -
110 -
30 4
49 4
3 4
131 -
444-
28 4 -
624 -
8 4
1 39 4 -
6
37 S
70 -
36 4 -70
1
68 -104
-19
-36
4 -55
9
21 4 -27
J, -43
4 -75-43
S -944
-66
4 4
?2'i -29
4-1184-10
-31,
484
fa7 4-
48-
174
64 4 -
11
-73
U
24 -91
I6H --
35 4-464-
128
30
724
44 8 -
36 -80
-16
4 -23
4-
18 -814-944
-49
'j -
117 4
874 .
15?s .
1.4 -
65 4 -102
-
77 :,
101 4 '
lbS 144 -f-
83
934 -16),
29 -
88 -
23 4-
17 -79
Vt -
39 -31
12 4
40 -79
4-
14
221, -71
19 -104-
108 -
41 -14
3 4
38 -34
ij'i -
23 -1004
18 , -73
-164
494
b&
14;,-
24 -
Dlv.
Sslfs In t
2330 ,,
2000 . .
100
1600
600
600
STOCK IllBti
. Kcnnecett Copper.. 36 H
. Keystone T ft n.... 16 4
6 Krcsse H S 136 4
. Lackawanna Steel., 764
. Lake Krle & West. . 30
Lake Erie ft West nf 62
soe .in. LehlKh Valley 65
100
400
300
1200
1503
100
500
3830
100
600
100
100
100
100
203
1803
100
100
030
803
3600
2 JO
1 300t
29C0
200 .
100
100 .
800 .
303 ,
1203 .
1300 .
100
2200 ,
100 .
100
3000 ,
600
200 .
70J .
100
4703
200
200
100 21
1700 ,
300
100
603
100
830
300
100
400
1403
300
300
10003
200
8300
1803
100
4203
930
100
100
1030
500
2203
200
100
530
730
130
630
7 Llspett ft Myers nf117'4
7 Lima Locomotive. .. 107 4
12 Lerlllard (Plerre). .153
7 Louisville & Nash.. 132);
.. Mack Truck 5514
7 Mack Truck 2d pf . . 79
75 M.-lntv.-e new 151
. Mnlllnsen Ce 34 i
7 Manatl Sugar pf . 75
7 Manhat Kiev Guar 46 Vt
. Manhat Fie ct 46 i
4 Manhattan El Supp 47 s
2 Manhat Shirt 354
. . Market St ilwy. . . . 7 4
e Mar St Ry pr pf . . 61 V
.. Marland Oil 43 4
2 Martin Parry 32 4
.. Math Alkali 42
.. Met Moter Class A 671
Max Moter Class B 23
12 Mexican Petroleum. 163 H
2 Miami Copper 29 4
20 Middle States Cem 13Ji
.. Mldviiie Steel 34 4
.. Iln k St Leuis.... II
4 M St P ft S St M.. 61 4
.. Me Kan ft Texas.. 114
.. Me Kan ft Te wl 184
.. Me Kan ft T fvvl) pf 40
.. Missouri Pacific... 22?s
.. Me Pacific pf 55 T,
3 Mentana Power.... 71
.. Montgomery Ward. 23
.. National Acme.... 17?4
7 Nat Biscuit 147 4
.. Nat En ft Stamp.. 541
6 National Lead... . 100
. . Nat R R of M 2d pf 5 4
. Nev Cen Copper .... 1 7 H
6 N O Tex ft Mex 68 4
6 N T Central 964
r X Y C ft St L ... 75 4
N V C ft St L 2d rt 82
New Yerk Perk . 40
,. New Yerk N H ft H 31 s
2 New Yerk ent ft W 26 4
7 Norfolk ft Western. 108 4
5 North American.... 65
.1 North Amir pf. ... 43
E Northern Pacific ... 774
. Neva Scotia S ft c. . 30 M
1 Nunallv Ce . . 9
. Ohie Bed v ft Blewer 8 4
. Okla Pred ft Ref.. 34
. Otis Steel 12 '4
K Pac Gas ft Elec. .. 70
3 Pacific Oil FS!
Pac Tel ft Tel pf.. 07
B Pan Amer Petrel.. 724
C Pan Amer B 66 4
Panhandle 8
2 Pennsylvania R R. 44 4
Penn Seaboard Steel 9 4
E Peeples Gas Cnlcace 83
. Peoria ft Eastern.. 23
. Tere Marquette.... 33
3 Philadelphia Ce 385
2 Phillips Pet 51 i
. Plerce-Arrew Moter 19 '4
. Plerce-Arrew Met pf 37
. Pierce Oil 8
PlKRly WiRgly Ster 43 4
Pitts Ceal..
Pitts ft W Va
973 14 pen, creek Ceal.
64
37 !4
21
79 4
77
424
900 C Poetum Terenl
'03 .. Pressed Steel Car.
4930 .. Producers ft Ref..
500 .. Punta Alecrn Suear 49A
5233 2 Pure Oil 20 4
530 . Ray Cen Copper. .. . 1674
500 4 Reading 76
203 .. Remington Tsmew.. 36
330 .. RepleKle Steel 32
1400 .. Repub Iren ft Steel. 72
200 . . RPp Iren ft Steel pf 91 4
100 , Revnelds Sprlncs.. 44
1300 3 Reynolds Teb B....
56033.20 Revnl Iuteh N Y..
100 .. Rutlanl pf
830 -! Leuis San Fran..
233 .. St L Southwest pf.
403 . . San Cee Sugar. . . .
100 . Raxen Moter
1103 .. Sf aboard 'Air Line.
803 .. Seab Air Line pf..
2100 .. Sears-Roebuck
600 .. Seneca Cenner 13 tl
1 9600 2 Sinclair Consel ... 33 4
300 .. Rlosa-Sheflleld 45 Ta
3 '03 , . Se Perte Rice Sugar 51
1830 6 Southern raclflc... SO 4
2703 .. Southern Rail 25
100 S Standard Mill 116
6333 4 Standard Oil of Cal108 4
400 E Standard Oil of N .1105
330 7 Stand OH of N J of 1 1G 'A
46H
F8 4
45
294
47 4
4 4
A
7 4
114
771
4
1 4
12O0 21- Sterling Products.. C44
103 S Stewart Warner Spd 444
28103 7 Studebaker 134
503 .. Sub Beat Cerp 8 4
500 .. Superior Oil 7 4
103 .. Sweets Ce of Amer 3
3000 3 Texas Ce 474
500 4 Texas Gulf ft Sulph 4f, n
1400 . Texas ft Pacific. . 29 4
1233 1 Teas ft Pac C ft O T8 4
333 K Toli'ieee Products. . 79
300 7 Tobacco Pred pf 1064
5.00 . Transrentlnental Oil 16
100 2 Transui. Wma Steel 39
400 G Fnlen Bag ft Paper 61 4
5200 .. Union Oil 22 JJ
3100 10 Union Pacific 141.4
103 4 Union Pacific pf.... 754
500 . . United Drug 74
100 3 4 United Urug 1st pf. 47
200 3 United Fruit 141
. Unit Kvw Invest pf 274
. United R.-UI Stere.. 07"-
. U S C I I' ft Fdy... :-2 4
. 1." S Express 7
. U S Feed Products. 8 4
. U S Ind Alcohol... 6 4
7 X" S Ind Alcohol pf 91
U S Realty Imp. 67 4
4
(a r
4 '4 .
25 -57
4 r
47 4 -95
4 -
IS
4
' 4
94
'00
3600
3 JJ
200
300
200
100
100
2200
5503
103
700
230
1100
600
833
1700
100
1400
2 00
200
400
300
1500
400
100
400
. U S Rubber 63
6 U S Steel 99'j
7 U S Steel pf 122
2 Utah Copper 6414
, . Utah t-x 17
. Yanad um Cerp ... 46
Ylvadeu Ine 1!
. Wabash 131,
Wabash pf A . . 22 4
1 Weber ft llellbrener 124
. Western Ma r land. 12
. Western Pacific... :04
C Western Pacific pf. C04
4 Westing K & M.... 59 4
. Wheeling ft L U. . . , 1 4 4
. Wick Spenc St Cerp I5J5
, Willys Overland .... 84
. Willys Overlnnd pt . 434
4 Werth Pump ft M. 48$,
Lew
35 4
154
136 4
751's
291
62
64
117 4
1061
152
129 4
53 H
79
154
23 '4
75
46 4
464
474
354
7 4
61 4
42 4
32 Vi
42
661
?2 4
160
29 4
134
34
114
61 4
11 4
17 4
40
22i;
55 "4
71
22 4
I7?4
147 4
52
100
5
17
68 4
E4 4
754
794
40
30
251
108 4
64 4
43
76 4
30 4
9
8 4
3 4
124
70
57
87
70 4
64 74
8
43 T4
8 7,
83
23
324
381
494
1 9 4
37
8
'.2 4
64
C6?4
'0
78 4
77
41 4
48
29J4
161
75
3515
31 4
70 4
91
44
46ti
57
45
284
47 4
4 4
4
7 4
11 4
76 4
127J
32 4
45
51
0
24 4
116
104 4
183 4
116!'s
54
44 4
131 4
8
7
3
4674
464
28 H
27 4
781
106
'5 4
39
61
22 4
140)4
75 4
74
47
141 14
27 4
661
it 4
7
8
56 4
91
67 4
614
C8l
1?
64
161
45
12
12 4
31 4
124
1194
20 4
60 4
59 4
134
154
0 4
43 4
48 4
Tediy's Net
Clese ChB.
35 4- Vt
151- 5
1364- 'a
7514
29H-
G2 -
65H-I
1174
1061-
153
130 -
534-
79 -
1554
33 Vi -75
-46
4
464
4-
74
61 4
43
32 4
42 -
67 -
52 Vt -161
-
29 4
131
34 4
-'
22 4
55 4 -71
22 4 -
1774
1474
53 -100
-
5 -17
-
68 4 -
54 4 -754-794-40
--
30 4 -251
-
108 4
4 4 -43
REMARKABLY WELL
NEW YORK CURB
45'Bend Men Attach Significance
te the Week's Activity in
Government Issues
14
4
14
1
34 j
' ? j Considering tlie surrounding unct-
4 j tllng rlenient, tbe local stocks steed up
I 'well in today's market. Trading was
4Ij fairly nrtive for a midsummer seslen
71 ' and was well distributed. The general
price movement was irregular, with
about nn equal division of fractional
gains nnd declines. Pennsylvania Ilnll
mail continued one of the strongest
spots, nlthniigli shaded near the closing
under the best price of the week. The ,
street raliwnv hnre were nil firm nn
stniill -leiilliiss, p. K. T. rallying te
:V.V. while Philadelphia Trnrtinn
moved up a ' point te (HI; I'nlen Trnc !
.1.... .....!. ...J .l.ntirrfi.l n f .10 I .'
iitni I t-iiiiiiiini mi' ii... !-- ... " " (
' j. !(). 1. dropped back n 'a " - but tlie
Philadelphia Kleetric issues remained
1 I firm. P.rlli prefeired moved up Ha
ii I points en Mnnll transactions. American
i4 I Stores closed at 321 'i. the top price
it ' of the week.
Mtuients or rr.aruct conditions niiarn i
a great deal of sigulnYnnre te strength j
and renewed activity of tlie Liberty
Bends and ether Government war is- !
sues. It is generally nccepted ns n re- '
liable sign of a continued upward trend i
In bend values and also n prolonged J
period of cheap money. There is. hew. i
4 i ever, ntilten diversity of opinion In l
INDUSTRIALS
1700 Aems Ceal flic
Ida Amer llnwsllan .. "3.
SOOAmer Metnls ... 4.1'4
ine Amer Metsls pref 107
Ren Amer Orun '-'
4000 Atlantic Fruit .... '."4
inn Beech Nut 30 u
R00 Ilroekbn City By. S
SUOn nuitdy Bud 1A
800 Chicago Nipple ... a
400 Columbia Emerald. 77c
ICO Coin Solvent 11 .... 404
100 Cuban I3em Sugar 04
100 Daniels Moter .... 1lt
100 Davles Wm A 33
800 Denver & Hlo O pf. B7n
100 Dubller C ft It 8,
400Dursnt Moter .... HI)1
100 Durnnt M of Ind.,, 14
ion (innlner Meters .. l'J'4
lOOOIbnen Hewell ... 17if
ISDOlliett SB 21x14
tut) Glen Alden Sen I .. B.I
2090 (telihv.vn Picture!.. 7i
lontleodyenr Tire .... ll'i
700aes Wheel .... 304
fcoe Heyden Chem 1
S700 Inter Cirbeii ,,. LIS
lOOI.Ibby McN A L.... 2H
300 Mercer Met V T C 34
40(i Moen Meters MVj
20(i rncknrd Moter ... IB
IB 1'ncknrd Mtm pf.. 87
loe Perfection Tire ... a
ftse
2.1
Id
107
7Bc
4014
111
3.1
BBO
8?i
I.H
B.I
1.3
in'.
,P
HI
87
8
tide
23
4B
107
n
24
311 4
8,
m
,$'
77c
40 u,
04
114
33
BBS
8i
an 4
14
174
IMS
B3
7.
11 4
30 1,
1
la,
2U
i?4
t.l
87
s
in
100 Pub Serlvn N J pf.lO.Hi lOPi 101H
"4
' n
1
2 4
2
1
4
i
2
1 4
41
U
1 4
i
14 I
30 4 f
9 84
34 !-124-70
-57
-87
-
70 4
65 -
8 -44
-
9
83 -
23 -32
4
38 31
4
37 -
R
42 4 -64
36 '4 -201-78
4 -77
-42
-40
-29
74
161 .
75 -35
4 -31
'4 -70
4 -91
-
44 -
46 4 .
57 -
45 -28
4--
47 4
-
74
114 .
76 4
13 -
324-
45 -51
-
90 -
24 4
116 -
104 i --
I 83 4 -
I I 6 4 -54
-44
4-
131 4
8 7
3 -47
4
46 4
28 74 -274-781-
106
15 4
39 61 -
22 4-
140?1-
75 4
74 -47
141 4
27 4-C6i-31
,-
7
8
56 4-
91
67 4 -614-981
-
122
64 -161
-45
-U
124
31 4-
124
12 -204-C0
4
59 4 -
13 4
151 U4
43 4 -4BH
financlnl circles as te the latter rnndl-
' tlen. Seme express the belief of mini-1
l mum Interest rates already having been '
seen and cVpect stlffcr rates after the
1 crop-moving season sets In. Meney for
short-term maturities is obtainable at
4 and 4'i per cent, but It is understood
veij few tanning institutions are dis
posed te put out much money ever the
venr end under 4'j per cent. In fart,
are openly discouraging six months
leans, '
a; If the theory of cheap money 1 real- ,
4 1 led and money becomes nctunlly a drug,
&4 ns has been predicted there Is a like
4 I lilioed, some ebseivers say, nf there'
2 4 1 being n veritable flood of refinancing en
v
300 Pyretic Mf K 0', 04
7200 rtadle com 4 V 4 "4
2011 rudln pref 3i4 3A
3O0 Itee Moter Truck . 27'4 27 U
S20O south Cel ft Iren. B4e 4Be
100 stHndard Moter ,, 4; 44
1300 Tebnccn Products,. 7' 6I4
r.ne Tobacco Pred w I.. BO'J Bfli,
.?22 Tobacco Tred A .. 78i 78.
lOOOTrlsnsle film . . i'Oe 20c
310H U fl L ft II 1. i:
soot; s i, t 11 pref.. l iff
200 t nltcd net Candy, nu, nl
11(10 Wbmie Ceal 1! il?
12? w.e'.' En1 Ch"n .. nec Br,?
" W'ljy Cerp let pref 3t 28
BOO Wllljs c 1st pf ctfs 28'i 20
STANDARD OILS
00 AnKle Am Oil
100 Atlantle I.obes
IB nuekeB P J. .
lOOOalcni HlKnnl
2.5 Imp Oil Can ,.
10 Ohie Oil ...,
2."- Prairie Pipe , . ,
'2ns " of Ky wl
.lO.'OO s oil of Ind .
1110 S Oil of N v .
?
s
27',
4Sc
44
7.
BO'S
784
2!e
15:
SO'-i
2m
. 20 IJ
. 0
. 04
. S7V1
.114
.208
.244
. 00
,U!i
.410
14
4
4
4
4 1 the pert of nil clnsses of corporations ,
vvnicli last year were compelled te pay ,
exorbitant rates for Imperative needs. '
There arc comparatively few Industrial '
and railroad maturities te be enred for I
I during the last half of the current cal-
, 1 endnr yenr, which would lenve nn open j
-? lield for the putting nut "of new Issues
nt a much lower rate, especially where
last year s timineltig was done in short-
term notes.
! Seme few weeks age It was predicted
by several well-known bend experts of
' a, the overflow demand from, investors I
1? reaching the better grade of railroad J
1 ij i and Industrial stocks. Such buying has
20'i
0
M
B7
112
2118
244
nnt4
110,
437H
., INDGPRNDBNT OILS
50 Atna ii in;
200 Ark Nat Oan .... jeij
r'!.1'l Po'ten Wyemlnir.. 80
30O lirlt Cent Oil .... JJ,
.'. 1)0 Carlb Hnd . . . . ' sC
lnecitien Hen Ice .,..222
.100 cities Scr II ctfs.. 22S
1:011 Cities Service pf . . IIS
1 HO Columbia Pete ... 1A
. ,0(1(1 KnKlneers Pet . . . 33c
1.00 IVnsland . , . 1714
I'OOflllllland Oil V It . 4;
,1100 (lltnreck Oil . . . i,t"
...i.g ,mu.,in ,,r ..
..Km Int Petrel ...
1OO0 Lance . . ..
moo Hrtel oil .. .
inerilllllnnd Oil ,
700 I.lvlnjsten Tet
I'OO I.ens Pet ,.
100 MaRma oil .
200 .Marine . ...
aeilMerrltt Oil ..
lime Md,nA en
23000 Mex Sen beard"
i!nn tt..i " .. '.
20i
0
04
B7U
11.1
208
214
0Bf,
110s
440
23
3r
8c
r,
82c
8.V
1li
01,
.'"
S3.
2.
i
1 4
4
1 4
4
4
1
i
14
1
1 4
41
74
4
4
i
Xi
a
'1
14
3
4
"s
34
2 4
32i0O Mexican Sit. VT C 3
linn., -""iiiunin j-rea
11200 Mutual Kef .. ..
3000 Neble oil
1O0 Ne Am Oil '.'...
540O Omar Oil
20 Pennock Oil
l00Rnn Cens
OOSiilt Creek Pred .
100 lt Creek Cens .
r.OO Sapulpa Iter
i"hell Cnlen nM '
.00 SimmH Pei
0200 Skellv Oil
f,noe Meuth Y & H
1000 Seuth States
SJOgPencer Pet . .
loon Stanten . .
'4!' Texan O A I. ,'
'.'OOTurman
700O -Wilcox Oil
1000 Y Oil
400 MarlanA1 i ' '
lOOOPeuth Slat-s Cens 22
.MINING
800Ala-nr Cel
n?,niiAm xNerat
2()p0 ni r,f(!BP V...
,,2''I,.0t . Mentanx ..
pnH?.K"en x,"nt Cens
...n.v v.unaaa C.OP
iippi'iireu 111 11 iiiiuiuer 01 me senseneu
divldend-pajlng rails nnd among the.
li.ilustiinl preferred stocks, ( enerete
evidence of which Is given in the steady
accumulation of Pennsylvania Railroad.
In this particular case there Is the ad
ditional Incentive of the nsured res
toration of the old (1 per pent dividend
rate. With that into restored, tlie cur
rent prire would give an income yield
nf Otllllinvlhliilnlii .i. nnnt .- VnJi
... ..,,,...,. ......... . ,,.-. uu,. ... 401 n )fS,i;'"i.
i entrai m nnetlier instance where tlie I losnecons cop m.
i-1m-i.-uiliiiii in uu mrrcnsi; 111 xnc uivi- ..'. uriez Miiver
dend late te 11 fl per cent basis premises
n correspondingly nttmctive income
yield. The better class of tlie railroad
stocks are growing in favor because of
widespread recognition thnt the coun
try's transportation industry has left
the worst troubles behind and, barring '
some unforeseen catastrophe, existing
dividends are relatively safe. !
IBS
10s
2.'c
2U
2 A
7
7
174
12
enS
s,
12e
13s4
.lie'
(!0e
r
in
44
n
Kl'i
83
7;
22 U,
07",
32c
174
4'n
1
22e
22 VI
ac
Be
B
fiec
83c
'!
ej.
'"
31
211
IS'1
10
21e
2U
2 A
.
IT
12J4
4'.
en
84
11'.
10c
'13V,
&
8.-.C
14
114
10
4V4
no
,100 Cressen (loll
3
,$
lrtc
S0e
2rtn
Rlc
B.lc
1A
"l
l.le
lBc
78c
22e
34e
Br.e
1
1.
Ill
IOU
80
221H
22 i,
08
1A
31c
!
n,S
22c
22'i
3e
Be
fl
S2c
8B0
ll'i
1H
32
3(1
lSi
m
21c
2U
2A.
P
121
enil
12c
13H
&
00c
'!
ft'4
10
4'i
l.V
lilc
78c
22c
34c
file
IjV
1000 DIVWS Rll.n.lnn" - ' . ? .t A
17000 HI Salvader .'..: 'rte 'nn '?
7(100 Emmn an. V nn 'r
2000 F.Mreka Creesu!
Dlv
lOOPIrit N Cep R5e
200(aAllna ?5
20OOO Oe eneld nerence. jac
100(1 Geld Zene
2(ioe Harmlll D
fnne llela Mlnlnff ....
0OO0 Independ Iead
J00 Jereme Verde
ten Kerr Lake. . 'J'
1000 I.ene Star 4c 4e
SOOCanarle S IT
tOOOCleld State 430 43c
4000 oeld Devel J
noeo Hill Tep Mer .... sja 83e
12O0H Marsh Mlrt 1 !,,
700 Masen Valley .... 21 2V4
lOOOMehlciin SO 20
2100 Motherlede C .... OS 0'4
4000 National Tin .... 34e Sic
1000 Nevada Ophlr .... 2 20
oeo New Dominion.... 2i 2'
ten Nirlsainx . BH r
Roeo Ohie Copper loe 10c
1000 nttaburKh Mount. . 24e 24e
2000 Silver Hern IJe lle
3000 Success Mln 17 17
2O0OTonepah Cash Bey fle flc
20OOTonepah Divide ... 81c 81c
400Tonepah Mln 1M 1M
1100 Tuolumne 6Be 03e
100 Unity Oeld 344 Ji
H00 United Kastern .. 1A 1A
100 United Verde ....274J 27H
2000 Volcano . 30p 36q
1.100 West End C 1' 1 A
BONDS
2000 Allied Pack 8s . 83H MS
inoeAm i.ignt r us ..in... in.
aoeoAm Tel 1
11000 Anaconda
70OO Annrnni1
vnnil Armnn. Jfr Cl T..1(ir, 10B
MOOAtl Oulc tc W t Bs 02'4 02
f.OOO Itelh Steel 7s. '28.104t 10m
4000 Helh Steel 7g. '35.10.1.. 102'(
101W
100(5
1 ns. '24...ieti4 101S
la Cep s.. 1004 100S
7s. O.-IOSS IOS'4
A CO 7s..lea . ion
ft W I Bs 02'4 02
eel 7s. '2S.104V 101'
el 7a. 'SS. 10.1 102'
liJOIlklyn Un Gas 7s,100S 10OV
21100 Can Nat Hy K(X 7s.107i 107J
1000 Cent Steel 8s . ...lCVU 1051
iiiue cons Textni ss . .n"i' iuu , J""?
ISOOOCep Exp 8a. 24..102J4 102S 1024
8000 Deere ft Ce 7S..101 1014 101U
lOOOKmpIre O ft D 6.10lS 10lj lOlfi
l.-.OOOFed Ld Bk 4V1S..100H 100S 1C0H
: 748.112.. 1".
?Ann VreAnnrt T
740OO Goedrich T 6H,, 07?i 07S
2301 Ooedrlch Tire 7S..103S W3S
I2O0O Gulf Oil Ts 104'.i 104.,
17000 Humble Oil 7s ...101 100'4
2000 Kansas Gas As .. 0B"; 0.14
inone I.aclede Gas 7s ..100 DOS
7000 Llbby McNeill 7a. HUH
1000 Marma Cep 7a ...1084
7()00Nat Aetna 7Ua .. 07
3000 Nat leather 8s . . 00
1 0000 NT Nil ft H 4s.. 101
10000 rhlla Elec BSa ..100
1000 Phillips Pet 7Us. .120H
1000 Pub ijjerv N J 7s..l0l'l
4nne iteht nir 7a ns
30(10
neon n m v t "0 .ins ins 1(18
1000 8 O N Y 7s, '30 ..107S 1071 107S
100O S V N Y 7s. '31 .100., 109., 100.,
21100 Htewart war !... im ii"i mi"
net Swift ft Ce 7s, '2B 101! 101 lOt'
Tl
BOOO Saks ft Ce 7s .... 08'1 08' 0RJ1
1000 Solvay et Cle RS..10SW 103 10SJ4
3000 S O .V Y 7s, '21 .lOS'i 10.1'i IflfllJ
8000 Swift ft Ce
13000 Texas Ce 7s
10(11) Tlrtal Oaaae
2000 Un Oil Cel 0s
S1.102T4 102S 102
..Illl 11)1 101
..1004 loevfc ienV4
. ine4 ioejs me"
7000 tin Oil PrnA 8 . .104U Wi'l 104
700OUn Ily lliv 7'j9..104U 104H 104H
4000'iVestern Elfe,7a ,.108j4 108S 108J7
80000 1'unm Aleers 7s . 1041 104i 104VI
lOOOOlRemlnften A lis.. 04H 04 04
TOBEIGN nONDS
1000 Argentine 7 100 100 100
3000 Can S 8 7s .... 0.1 04S 03
4000 City Montevideo. 7s 07t 07 07S
4.1000 Kin of Serbs 8s.. 051. 0.1S 9'.
12000 Swiss B(i 102'i 102S Kl2f
4000 U S rirazll 714 a .. 8fl 8.14 80
0000 U S Mex 4s 39 8 8 It SSM
Frisce Discount Rate Cut
Wnahlnirtnn. Julv 8. Reduction of the
rediscount rate of the Federal Reserve Rank
of San Francisce from 4t4 te 4 per cent,
effective today, was announced by the Fed
eral Reserve Ileard.
The San Franclnce bank la the third In
stitution of the Federal Reserve system te
rut Its rate te the 4 per cent level. New
Yetk and Hosten having- previously an
nounced similar reductions. Reduction In
the San Francisce rate was forecast several
weeks age nt the Treasury nnd was regarded
here ns part of. a general reduction of Fed
oral Reserve rediscount rates.
St. Paul
Descriptive circular outlining' tha pos
sibilities of this read
Sent upon request
McGLINN & CO.
Member A'cte Verfc Stock Exchange
30IX, Widener Bids., Philadelphia
New Yerk Bosten
EXCELSIOf
TRUST CO.
Philadelphia, June 30th, 192
RESOURCES
Cash en hand and in
Bank $296,832,73
U. S. Gcv. Securities. . 403,514,89
Leans and Investments 3,326,375.2g
Real Estate '& Fixtures 68,747.50
$4,085,470.52
LIABILITIES
,
Capital
Surplus and Undivided
Profits (earned) ...
Dividend Unpaid
DEPOSITS
$300,000.00
.
247,962.78
20.00
3,637,487.74
$4,085,470.52
ALLAN M. REED, President
E. P. BALDERSTON, Treas. '
CITY OF EASTON, PA.
4 BONDS
JULY 1. 1942
FREE FROM 8TATE JAX
IN PENNSYLVANIA
EXEMPT FROM ALU
FEDERAL INCOME TAXE8
Net Debt lets than 2 of
Assessed Valuation
Subject te Approval at te
Lcgalitv by Messrs.
Teicnsend, Elliett rf Munson
PRICE, TO NET 4.10
REILLY, BROCK & CO.
306 CHESTNUT ST.
PHILADELPHIA
ItaTc 2000 shares Bessemer Moter True
Ce. Class A common stock, will (til all
or any part of It te quick buyer.
Class A common Is only stock with vetlai
power. Cine It common with no teHm
power, new be1nr sold for S10 rr shirt
nex P 12S3, Idcer Office.
Short Term Mortgages
r inancea
Substantial Amounts
A 011, LEDGER OFFICE
1C IC In
S . . HOn en On
- ,. IHSiHiaiiSSHiiaBHdl
A NATION'S BALANCE BUEET '
One man became convinced that a uatlea'i
artalra ctuld ba run as economically as a
business corporation. General Daweat.ll.
liew he affected an Immimii tavin. n,iik...T
dlsruptlna Unvernment departments, a sm.
rial article In tha Mavazlna Section of tJ.
Sunday Pcblie Lunais. 'r.u. if . tt.vi. X
Sunday Pcblie Lideii.
Aav
Philadelphia Stocks
i".
u
i
?4
l!i
Vt
1?i
1
Net
IIlKh Lew Cl0f chK.
7. Mil Tnsur :. Sii., WLj Vi
KltAin ran.. ."0e r,03v .ri01
l.ill Am Sirs . lill. l'Jl'j 1121L. '
hi niin .i
pref ... SO'i M
iiii ruriiiic n i's
1 l.-i i:iee Ster. -H",
SOU. 1.i
II'. Wt M,
H0r.cn Asph. 0(K' V.'". U7,U.i:,
V.-, Ac nref..lOIMf. 1021". Hil4- 1'
4
'
I
COTTON MARKET
New inrli, .Inlj- s. (.'ntten :i.
insliei this ineiiiinjj niij fairly tiriive
mi Mippert from I.lvei'imel nnd (inner
Inri'iun riliuiiB' fellow inij j,sti,nla's
follnpie. Kirst pilres vmti' tin H te 1-
en tlie I.tviTpoel ciilili'S points, fnllevviMl ji.v meilerate riTcsslen".
hi te M lower mid en, 'H'" d'"ri Mile vvhs uvelilrd by iimny
1 nuill'f In hN.i il Um. .i imciitthul
leperti thieiiKli local .Apertrrs that tt(Mtllr ,,, tll(. Senlbwest tomorrow,
liirman liujers vvui' theniusbly ile- anil niimereus bell weevil ri'Miit.
mornll7.et bv tli" break in mark-, ami Seullicrn wire Iieiim-n miIiI mi the bulKii
vre trjin,; tn ni'U previous pnrcbacs
Commodity Markets
GRAIN MARKET
CliiraKO, . 1 1 1 1 r Wbi'nt pricnii li
'lnipil .r te IS1' nt 'be outset uwWr
bi'ivy H'llltii!
wlili'b were
deducted
l "iT.oi.e 3S.12s.oen
Reserve Banks' Discount Rates
Offlrlal r"rtiieunt rvi ai th tiM-ihn Kd.
erl Rcstrvn li.inK.i ri- as feliuuB
Trtas. I. b rem I Iflirn
cits. Iicinils I'apir Acinpt.
1
if L'rnln.
Tbere was mere or les eevennx en
fenrs uf an nvernbl iniirKi't, but mIIh-.s
wire feeble, ns einp ac mint- limn the
sprmi; vvbeiit Siiiti-1 weie biislily favm-able.
Cem started n neb a need te tr lower "'
Tiosten
lNsw Verk . . .
t Philadelphia ..
Cleveland
'Jtlchtnend ....
; Atlanta .. ..
schlcaen
!Rt. Leuis
ltlnneapeMH .
f Kansas City .
I Dallas
ban Francisce
4.
I
!
4
4',
r.
n
4
I
4
4'
4',
4Hi
i't
4,
4',
4
4
I'j
l'v
t-.
?:
r,
r.
4
4
4S
y
4 i.
4 '
B
4
nnd mleil weak with win at ami nti re-
ports of German r lluu ainl an ab-
eiiii' nf new expert ileinanil,
Oats felluwed tin ether innrketK nri'l
llleelilled il,e In 'ji
Previsions were very weak en the
fniclgn lineneial xituntien whir It mure
t him (iffei an inlviuirn nf Tie fur live
' ilOU's.
V. hi ' ' Oren 1 1 A I
i.'l'i i..1 ms
i US r,,i-, It nni, (;rji,
ii'S ir. U Hji, i,',s
.mil thei
liiK up.
Previous
r.iis, Opn
lulv 2J nt L'2 us
ii't j.' i,s L". 7.'.
N' .V . .'' "r" .'.' II I
tin- S" 111 "2 '.!
Jim i"J 11 L'J ."
L.'S ill' .'.' 1.'
SI. 7".i .'I :. "
hiiM j-. 7-,,
mtn.il
wa.s meijeruti. wi.-ek''nil even-
MARKS DROP TO .18V2
French and Belgian Francs Touch
Year's Lew Sterling Eases
New Yerli. July 8. Tin- fun-Inn ex
' liiinge market rleseil irreRiil.ir tmlny,
wltli Treni'li nnd IlelKian francs, and
rerman marks at new lows f,,r tJie
ear There was a particularly t-hatp
decline in I'l-cnc-li nnd Hclginn exilmnce
liriclpltati'd by tin- Impending irisis in
."KlfCeii MtM. 14'
1115 l.eh Nev.. 7-lOs
TifltM Sin Oil KlH
.-(It.Me l'ac... "'J's
K)tX Y Cent0
.v. Hud., nif's
lOtl'iin-AlVt 71
100!) renim K It 44-
LM!7 I'entmTrnf 2
SL! riilln Ins
Wire... 35T's
20 1'hiln Ce
cum pf.. as2
lf)0 riiilti Klec 20
1S!() de pref.. 'M'U
1 .-, I'll ila U.T :t:is
'S lMiiliifTrnn 00
.-ie;sini'iaTr.. :w
40tStuilebkr.132ni
lOt'IiansOlt. l.-.Kj
ITjO CniQiiTrac 40,
175 I.' (fl.... 52
,'!.-2 de pref.. 51
.'OOtl'tali fop. 1140A
200tWet.t Trie. 20',
420tde pref.. (inr-K
100 War I & S 0'j
15 W ,Ier iS. S lid
I 1
iiVs
71',
13a,
!)4s
71
41
14' ii
7P4- s
13-". . .
nis-i-s
71 1
44'4 i:
2 - Ji
35Ti, 35Th )
3SU.
20',,
:ie
.".:. is
oe
33
131';.
i:.'s
40
52
51
1111s,
ant
00-",
O'e
3S1U i.',
2!l"- s ,
30 ifc i
33'.1. 14
00 U,
33 - ; ,
131 1,-2',
i5ii m I
40 ..
r,2 u.
51 .. "!
010'j,- n 1
201,, i'j 1
i;e"', ;
30 "..
100.311
100.50 .
.100.40!
. 07" ,
. 103
!')'
Tutnl sales. 4!(s shin. m:npirtd with
!iiS4 sliarea yesterday. Thus far this wreli,
SS !Ki7 trui en.
tNet chanse made hv comparison with last
salr en New Tork Stock Kxchanit
IHILADlCII'lllA WINDS
2000 Liberty 3d 4',,s '2S. .. .100,1 1
1000 Liberty 4tb 4,s '3S.
1200 Victory 4:!4r '23
1000 Victory 4is '23
3000 Blet! cc I'cep 'l'r 4s..
1000 l.eblKh Vel (is 1128...
JOOO I.plilali Vel Ceal 5..
lOOI'blla I'.lec 1st Tn & Hi)
1000 l'liiln Klee 5'js 100 j
4000 l'hila Klec 0s 103-74 i
Tnlal 1 il MHO, cnnipired ilih tl'J S.'iO I
cterda 1'Iiuh tar thla week, J300.IOO.
LIVESTOCK QUOTATIONS
Chll-.il.-n, July k - t'ATTl.i: Ileielpls Mm
head rumpareil with vitik nne Twenty-1
Owl te 3&e lilKlivr, htrlctly cholce and rlmi
uihnncliii: l.nsi tpets en lower nr,uin up
mere, rut isiwh unu n iiirb muftis STic
hlcher: lower cra'iea PtrcniL- te l.'r un.
ii-th a nd vUtn-rH aimiit mi udy ImlU most
Mr lilKhT. vliiI csivfu 1 .it iiinher: stock'
And feed. is piucteulh the hiuny. vetk h
WEST END TRUST COMPANY
Bread Street and Seuth Penn Square
t
1
CONDITION OF BUSINESS JUNE 30, 1922
RESOURCES
Real Estate .
Investments
Time Leans .
Demand Leans 7,945,01 5.23
v-asn ana Keserve t 2,056,888.21
''
$1,000,000.00
4,898,816.66
456,203.42
LIABILITIES
Capital
Surplus
Undivided Profits
Deposits
t
ttf.
$16,356,923.52
$2,000,000.00
1,800,000.00
211,300.05
12,345,623.47
J. Willison Smith,
President
$16,356,923.52
Charles E. Welbert,
Treasurer
M.iv
.Si.l
i,in.r T I... ....... , . . i. .. ,. ten en l.er sti'cm till .10 vcek a buk lip,.r
,VrUV.,l ". I ,11. V",r '"ru(-a'.v su-rs $ST.'.yu0. l-ef CJws nnd li-lfers
Huh l .nr rimn aiii'cteit and fterlui!; euscd oil about ' I ts '.'StlT no. imincra ami cullers. $J 903 7.'i,
!J li'i JL :i.'i 1)'.' is nf a cent. The nut decline in I iris!""' cuIvih JS miltu ::., desirable bluckers
:: t-'J L'J I'" 'J'-' I. if ( 111 .i liniinii en the dnv vvns 1"1 ,,,i..i and feeders, Ifilf"
Uili Jjue SJlia ii i i ii ,""ris ',- 'J P'illts. neiiS lleieipts. r.'nn head fitreni? te
:.' .'.7 ". in jj.a.irtL's "" llelKlum 11 points, and en lit,. 7 ' in, hi.ih.. .. ll um.l.s nputs up mnrn.
:: is ji.Ti; HI liT lieinls. The Wlielu hltlintlen Is siieru- .Tep, $11; built Bend bun hers, $10,B0t(ll,
JJ 1 .1 1:1 nil Jl l 1 I I, A !.,...! .n . I... , ... . I . . , . . .1, . dull r Ijlimi at,, iiil'h .1 uiil' in I'.'u tilkliB
i i, ..i ii, t m -. . i.iii.i-, ii.im-ii iiiitui nn- iiiiuneii mi it ipii ".....,. ,. . .'....: ....." " ,:t ;'
. ....... iiiiistij- j.i.tn, ii,, iiauniiiu . wh iiiiiNiiv an....
can-, Sss
stly SS
ki-m . !
I
5 Mutual Oil Resumes Dividends
Denve, July F Thi. Mutual Oil Oempam
)i?s diclared a nuirtnlj iliiplend of l"i,
cfnta a share. p-ijabM S( utsmber l.'i te sleck
nf lecnid M nirmb i 1 "Ihin 14 ih tlrsi
slnce Ocieb, r IIUI when lh cnniininv
jlissed Its In per nnt v.irh dl.idmil M
t rectors ef lh ininfun buf eie.l 10 In
j ctesse the upltal tl. 1, fmni r rme uin,
1 te ISO, OHO. (IUU, sijbjeit in apprev.il of the
f rtoekheldeis, nnd in enlarce ih Heard of
Jlrecters frum seven le alas members.
. 1 ern
I .lulv
1 Keptember
IDei-.'mber
Whiat
Ju.y
I tsepfnitn-r
1 Iitirember
1 Ian
1 July
, SflptpmbT
lift, nmbT
Rye
Sepleinb' r
Ilir.s
Stpli'n'br
l.rd
July
Scptdiuber
1 I3S I I3S ti 1 z,
1 i 1 l.'i. "1 1 ll.
I 1 .1 Yi
1 ir.i
: 1 1m
31'.
'IMl,
IS
a:.',
a',
IP. ft
M
RSi,
11":
11 bT
11 07 10 fl
.11,21 11. Ji
1 12'.
1 1.".
1 U
3s
1 in'
K.1
10 'IT
DIVIDENDS DECLARED
Sa.t Creek Producers' Asseclatlnn, iuar iuar
teny of tlilrly tents pauble Aiisust I te
mie k ijf rri erd Julv 1.'.
' I n'en fill I'ernpmy of I'.ii.femn. extra of
II iin rmuriT.. t fj buh payable July
1!1 te oleck of reienl lull 10
Ai Iv 1 l,,,.inT.i 1 1 rnp4iiv iimitrly 1 rir
em en " mrnun im .ibl,. Autust IS 10 Mink
of re, erd .lulv J I
BANK CLEARINGS
flan- rlnnnen le'lai 1 impr-il with cor
responding day lanl two enr
1IC.' 1lil lfun
Phlla J".'.' nun u(hi tc,.', 3113. 70'J M 11,11 OUT
nosien ;,ii.eij,i 000 in
1 N" Verk KIT r,H1 fill 1
' I'hleiKe S9 3011 fl Hi
un Idcnls.
Sterliuu cables were Lll'V dcinnnd
I H's; franc cables 7.80, checKs 7.711;
Ilelulan rnlilrs 7.41, checks 7. lit ; Kvvlss
ruble., !i.l,"i, checks lil.TJ 1 peseta fablcH
i.'l'i. rbechs i,,tiiif!; peseta iiiblcs
1 , I'liecKs 1.1..111: jipiimnrl;
L'l.CO, rlierks lil ..ri ; Norway
If!.!,'., checkh Irt.'iO; Swedish
-'." r.. 1 berks 'jri.SO; cuililer
.'Is si . 1 hecks :iS.S.'l : marks .18''.,.
The rale nf premium 111 Montreal to te
day nn New Yerk funds was 11', pee
((in. 1 lie nite el discount in New
1
'K 11 411 hc.iviiKhi tin r.uti 1M tin, iniilluni, s
yii'.in'ii 1 1 iimiu , in 110 v u , iiKnt iiKhis, sss
in ld'ri I'l.l'O lucklnB ses, kmecith. Js mil
'Till .' paikliiK sews ruuifh, lS50t0, Kill-I s
I.... r,,L,t U II'WIII 1'. I W
Mlinni' -Ite'c'elpts, 7li0(l held. .Mesllv d'-I s
reft, mark' 1 n idv 1' mpare I ib week 5
iiiies nu,, 1 t iambs heavy and medium vvelshts. $
rallies ' fully .'iiitiT.'n hUh,-i . apnts tl up. IlKht ,
rabies 1 "he"''' ''rllnj;s nnd fe. rl, ri mesily a.-.c 5
i hlBher, week 1 top ft liimbx 1 1: fat ewe,
t.licsj7 , vi, week's bulk fat lambs. IIIHj I3.7S, I S
rilbk'.s ewes. !,'. .',117
BAR SILVER
I'ltthblirirh, I'u,, Ju ; R Ur'(13- -lb re ipt.,
Iddii Hiener Menv ! 1 1 !ifl I 1 1 (10
hiay jeikets hKlit de and plus, $!'."&
Verk today nn Canadian funds was ,tr"iv' ' 'wkV'W. it bi:m 't',', w-
j CAI.V1..S IteiLipis. 1U0 HlBher. Tep,
fatei llnu Tran s
III' 7 'H i,
I IS". 7 H."i
7" 7-.ii 00.7111.1110 1 li'l'l per rent,
TODA V S QrOTATIfi.NS
I etmil'l
C.ibles
li ir' sm
1 Nia' Verk today m
fnrelim 71 W un S e i,( tendon,
ilWJ Afe 7411
li'.ii
e
hJKlKr, at 00 'id.
im I iiru d j.,
cer nns ounce,
tr.e 1 pen-ind
Cables ,
l.ne rimMer
1 Hi'j 3s sn
17 3s s.i
i iw'(J 1,1'UT' nn-
tUnrlliiK Kr.incs l.lie Ciul .lers
.. I 144 7,ht I.IJ ,",s s.i
1.4 14 i.Sl'.. i.i-'.? 3b, bt,
rATTI.n rttielnis
CHlVTH, lemlpi,, ,-, j
I'itst lliifTiiln, Jul- s
inn b 1,1 siuiiin
t.iud M'iiiI ll,7 1l
liu'l.-' It, in-- inue h Mil. Slums en
llni.t be.! infiL'f.e hlRher heav Ill.'JSw,
11 Ml mixed jUl.lir.lMt.r-.'i. Mirksri. light
jin krn 11 n.l ii. JU. SJ, roughs, tUQB,5:
ttaus, lOiii).
I
I
si
Guaranteed 6 Mortgages
Owing te the present great de
mand for mortgage money we
are able te offer many of our
mortgages and mortgage bends
guaranteed at 6.
At this rate, these securities pre
sent the most attractive investment
in the market today as they com
bine First: Absolute safety of both
principal and income. Second-. The
highest interest return commensur
ate with safety. Third: This com
pany's guarantee.
Philadelphia Company for
SS'X Mortgages
t ,. . "' mrf Treat.
Land Title Rniiriin nu..., , . .
"si iiiitigeipnia
TA Oldest Mortgage Guareni.. r
ge uuarante. Company in Philadelphie
J im j.y My
M Spmc 8,00
United States
Government
Securities
SECURITIES DRPAItTMRNT
COMMERCIAL
TRUST COMPANY
Member Federal RescrTe Hybtein
City HaU Square West
C. S. PATTON & "CO.
ID CIIKKTVI'T STB.
BANKERS
or tn
flATT.trn
Bends nnd stocks bought nnd !
- siemner. i'Hii. Htech Kxehsnse.
neoeaaen
1 HTKTKNSOrt
MKl.t liu.t infiLT.e hlnher heav lll,'J,'iW. i SSI
I 11. Ml mixed sll.ll.'.in 1 l.e.'i. Mirksra. Ilshi Mi
7m''"' ' 'I .' I.1.'1.1'.'. ''"''J'iiiii.iiiii I..,..
' '" asassMsNfeaiasKhfitavsattifi&SbB
Lawrence E. Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
, KJ.10 IIKAI. KhT.XTi: TBfST HM)0.
Invektiitativ nnd adjust inrpoiallen
nartnershlp accounts and prepare Incemi
Tav n.iii,..
sdSwSaBasHa,
1 ""tt ' ' ''airTaMMsisisasalsasasaM ' ' j
.w"stwsfc
fa?
Simm
k-iL .i.K.-'j.'.tel
il.'nX. $:
Uv