ifcs r-. a&BK&n 1:sm: ff. Wm EVENING "T'v waraar wnmnBBiMainvirmv wr xvam ah "BT?r i.T r. . .; . i iaJirrs.ri;vy52Vfrti public isampe . " r"v r-ry-y!; I (A R ! rfc Vr' . SVj'if . tf ? $ K IV & 'If? Iliimnnniie nier in vibunuue meL m U Canada's Basic Wealth Canada's gross agricultural wealth is estimated te be $6,331,000,000. This is an illustration of the basic wealth underlying Canadian Government, Provincial and Municipal Bends. Such bends may new be pur chased at prices te yield from 5.10 te 5.75 Principal and interest payable in U. S. funds Write for Hit of July effcrtnus I'-llS Weed, Gundy & Ce. Irv orperni'. 14 Wall Street, New Yerk Terente Londen, F.ne, Mnnlrriil Wlunlprc 1ST ALL STOCKS J Street Inclined te Take More Hopeful View of Rail and Ceal Strikes NEW YORK STOCK EXCHANGE TRANSACTIONS Only Afternoon Repert in Philadelphia Quoting Fult Litt Dlr. SaU in t 500 .. 400 300 STOCK Your Meney ITS Investment and Care is the title of a booklet out lining a basic plan for In vestors. The plan is new being suc cessfully and profitably used by individual incsters and institution. The application of the plan is gcnernl and has te de with Increasing Net Inceme The Booklet is clearly writ ten, practical and interesting. We will be pleased te mail a copy en request. Samuel McCreery & Ce. Member Phita Stock f- rhane Franklin Bnnk Building 100 Safety; GVz Interest WHEN you place your July fund in Straus Bends, you gain 100,; safety with 6Vz Interest ever a period of 1 te 20 years. Investigate these sound first mortgage bends before se lecting July investments. Write for our current bend list and specify BOOKLET 792-L ?W.STRAUS5cCCA MCORrOnATED . 13TAOLISII1D iSH Stock Exchange Bldg., Phila. Tiltfkcnt Srtuci 561S 40 years without les te any investor (e) 1922. ? W S. & Ce I New Yerk. July IS. Iteth the finnn j eial and market community ni In In lellned te take n mere liepcful view of I the coal and railroad strike, judging ! from the Improved tene and rMnj: trend j in prnrtirally nil the ninrliets. Thi better fppllnsr was te some extent nr nr eentunlecl by the hrichtrr outlook of 1.1... !. 11.. ."1 . . 1 mr r.urujrnn penur.'ii ami economic "Ituatinn. Trndins in the stock market uas little hert of buoyant, and while the movement had rnn.pIcueiit Minp Minp tem of "window dressing." prm tienlly necks of iilmnut every lerrlptieii par ( ticipated In the improvement. The order of President Hardinc te operators "te return te jour mines and 'resume operations" was taken te mean .immediate lnereae in coal tireilm-tinn. I Washington nhire aKe Indicuted an early end of the rail trike order un der the plan of the l'reldent te iue Joint call te both sides te adjust differ ences by conference. At the same time the Street appeared te like the new I from Kurepe Indicating the possibility of materially rutting down of the tier". 1 man indemnity and the intimations that jfireat Britain would give up the great 1 er part, or all of the claims en Trame I en account of leans made during the I war. AVhile it v,,is admitted the car 'ivlng out of such :i plan would gie te I the different nation, le.s money in the way of reparations, it was be'leveil ulrt -I mutely it would bt in? about sounder ( economic nud tinnm-inl conditions r 1 Kurepe than otherwise could he accom plished. While the trend (,f the whole market during the morning was distinctly up ward, there were several special move ments in individual stocks net easy te account for in a d finite way. Cru cible, Steel shortly afler the opening was nisiim up ti'.j points te M With- ' in u brief time itwas back te M '-... The natural assumption wn there hall been i spced.v covering of Mieit 1 untrni t. 1 Kaihvay Steel Spring made a gain of T' te 1(IM.. It was the mn.t mil- splcueiis tiieaiber of ihi. eiiupment gieuj) American l.e emetive was "J points ami Baldwin mere than 1 point! higher. Steil moved up a full point te WOV Spfcinltles such as Natienal1 Enameling, with a gain of 1-VH, were 1 dealt in en n fairly large scale. Te- j ha cee Products "A" recovered nearly - points while American Sumatra was iniiet. The trading in Consolidated lias! and United States Industrial Alcohol was en a much smaller scale, but prices j were above Monday's de?. Interna- tienal Paper made a ipiiek upturn of - 1 points. Mexican Petroleum led the oil l 'list with a gain of 'J' . points. 'I he . ether members of that group leeevucd 1 quite cailv and there nppe.irul te be liw apprehension uver the leiluctmns in oil and the reports of salt water. Commodity Markets I .(U.lark$0e. BANKERS 321 Chestnut St., Philadelphia Established 1837 Members New Yerk and Philadelphia Stock Exchanges GRAIN MARKET Chicago, July IS. Absence of any definite indication of progress toward settlement of the rail strike led te tip turns in wheat prices today during the early transactions. Bulls put stress, tee. en estimates tKnt 700.000 te 1. 000,000 bushels had been taken for Ku- . rope en jesterday's decline in the mar ket. On the ether hand, weather eon- , ditiens tedav remained ndverse te de- I I vclepment of black rust. Opening prices, 1 which were unchanged te nc higher. ' with September .-J 1 . 1 U ' te Sl.12-. and I December sl.H'2 te ,si.l4"q. vveie fel lowed by a slight sag, then by fresh general gains. Cern and eat were firmer with wheat. After opening unchanged te c higher, September 0-Jc te tHVic, the corn mar ket scored a slight general advance. Oats started VslVic off te 'e high er, September Mc te ttOUie, and later I hardened a little all around. j Higher quotations en hogs strength ened the 'prevision market. r:. m1. , 1 ii I 1 liii, ' 1 it1! I 341; ! .iv. ' 30S 100 400 5200 400 100 400 7530 400 tee 200 100 3300 100 200 114800 103 1200 100 1103 J. 200 3000 100 100 200 g tee 1100 300 200 100 400 300 200 100 100 100 400 100 100 100 200 200 300 100 200 8100 1300 5400 100 100 1300 100 2800 100 200 200 53 100 900 100 400 100 200 100 200 300 200 200 300 500 200 600 300 100 300 100 100 1000 100 300 100 100 200 100 100 600 100 200 400 200 400 100 100 ..142H ..139 16-, ltlfh .. Adams Kxpress.... 63 4 Air Reduction .... 55 .. Ajnx Ilubber 15W .. AJnska Geld Mines M 4 A'lled Chem A Dye 68 4 Allls-Chnlmers .... 55 Vt .. Am Agrle Chem... 39 .. Am Afrrle Chem pf 63 V 4 Am B Shoe Kdy new 62 Ji Am Can 57 H 12 Am Cr & Fdy 169 7 Am Car & Pdy pf..121 . . Am Drug Syn 5 !4 . . Am Bide & Inth pf 70 7 Am Ice 112U .. Am Internat Cerp.. 43 1 Am La Krance Eng 13 6 Am Locomotive. ...118 4 Am Itadlater 95 H .. Am Safety Razor.. 6?4 .. Am Ship A Cem... 11 H .. Am Smelt 62 7 Am Smelt & net pf. . 98 K 3 Am Steel Foundries 38 7 Am Steel FdVK pf . . 994 Am Si'gar Kef 79 .. Am Sumatra 39 ',i 5 Am Tel x, Cable... . 57 9 Am Tel & Tel 121 M 12 Am Tobacco 12 Am Tobacco B. , .. Am Waterworks, .. Am Wntrwks 61, VI 42 Vt 7 Am Watrwks 7 Pf 87 7 Am Woolen 90 7 Am Woolen pf 108 i .. Am Writ Paper pf. 32 .. Am Zlne Ld & S pt 44K .. Anaconda Copper... 52 .. Ann Arber pf 40 4 Auje Dry Goods... 53 6 Abse Oil 115 6 Atch. Tep & San Fe101 Vt 5 Atch Tep & S V pf 90 Ti .. Atlan Blr & At'.nntle 3ft 7 Atlantic Coast Lln108 .. Atl Gulf & W I S S 36 7 Baldwin Locemotlve121 . . BMt'mire & Ohie... 521, I Haiti & Ohie pf.... 62 ft .. Bamsdnll Cass A.. 31 14 . . Barnsdall Class U. 28 . Beechnut racking . 36 U 5 Bethlehem Steel.... 74 6 Beth Steel B 77J 7 Beth Steel 70 pf.. 98 8 Brooklyn Edisen. . .1084 .. Bklyn Rapid Transit 25 Ji 8 Bklyn I'nlen Gas..111 .. Brown Shee 51 J4 7 Bush Term Bid pf 93 U .. Butte & Sup Cep.. ZB' . . Cadde Ccn O & R. . .. Ca'lfernl.i Petrel.. Cal Zinc & Lead., 12 6Mi 8 10 Canndlan Pacific.. .140 7 Case J I 1st pf 86 .. Central Leather.... 39 . . Cerre-de-Pasco .... 36 J 6 Chandler Meters-... 70 4 Chesapeake & Ohie. 9 .. Chicago & Alten. .. . 11 .. Chi Mil & St P 27 W .. Chi Mil & St P of.. 44ta 6 Chi & Northwestern 76 & .. Chi R I A Pre 4314 6 Chi R 1 & Pae 6 pf 81 7 Chi R I & Pac 7 Pf 94 U .. Chile Copper 22 .. Chlne Copper 29 Ja 2 Clev Cln Chi & S L 76 i 4 Ceca Ce'n 71 .. Cole Fuel & Iren.. 31 3 Cel & Southern ... 48 4 Colerado & Se I'd pf 55 .. Celum Gas & i:iec . 89 H .. Cel Oraphophene pf 16 6 Cemput Tab lc... 65 ! .. Consel D!b Ins .. Consel Textiles.... 1 1 ' 7 Consolidated G&S..124& .. Continental Can.... 71 4 Cern Products Rcf.104 7 Cern Pred Rcf pf.117 300 2H Cosden & Ce... jBends for Investment Liberty Bends Bought, Sold, Cashed F. P. R1STINE& COMPANY KMublUtird 1002 Widencr Building, Piuladclpai New Yerk Elizabeth, N. J. Ucuibcrs Nfv Ynrk rind riiUjiiclpti I s.pt Wh.u JiiU I Sept. I Uic I IJ.ItU 1 Jli.v I S"Pt Dc . . 1 Hie .s. pi I Lard 1 July ... '&Pt. . . Oct I Jan. ... til", 1 11 1 . 1 r 1 14 at1. an1. 31 10 no 11 00 C'J ill fl ni M 1 hi, 1 u 5 1 1 1 fe .14'. w 3U V .'is 'a r,i 1 rj 1 llVj 31 3 Sl 10.1.0 11 OS K.bS til 13 11.12 Green Star S. S. Sinking Fund 7s Serial Equiq. 7s Wm.C.Orton&Ce. 54 Wall St.. N. Y. Tel. Hanover 9690-9697 Wm. Steeije & Sens e, ' sttteuiTCcra-rycpniraiS'CcwHnaxttcna COTTON MARKET New Yerk, July 18. Following ini tial irrpRularlty. with first prices 17 points lower te ! points higher, the (Otten mnrket develnpi-d considerable htrcneth this morning en cnverlnKi baped nn lmnrevi'd fereiitn political cendi tiens, mop I'lircrt'ul deniitln labor' news, and a ttri'iigth in the hteck and f'lrelun xihanRc inarlii'ts, as well as .in ah-fiire of rain in tin- Seuthwent. Trndins wus net brend. and appeared te be limited liirgnlj te the mere prefes suiniil i-lcmenr. TIip Seuth was n fair -tdler en a scale up. Crep news was . uKiiin -iillietlni;, tin- I'.istcrn litdt -fnd- ' mi.' hullih niChsiiKfs us u rulf Wall ' Strret .ind Ni' Orleans were hujers. I Subvtiuent bujlnc threuKli 'en mH- , sit.n heu-fs and truders with Snuthrn i onnectleiis nilvnnccd October te UL' 'S.i j and December te li-.ll), represeiitillK ! .lbeut 'J2 te ''." pelnth net rl'' Ucpurtui complained of tee nun li inin in the1 Knstern belt nnd net i neiigh jii the WvkX. and there was nNe inn buy ins i . n tlie Impnivetl ports ainl lentlniu'd' hrtnness of fureiKll echani.''. Item Item tiens of -l or .1 points from top at mid- j dav rellected a little letal realising. YfHi fle 0-n 1P 1 , .. . ill l4 .'l 7.1 .. . ui H8nn 'ji '. 21 S1S7 'JI st Jl.ne Jl.57 . si.r.ewan ai a.. . ui te 100 17100 100 100 100 900 100 100 103 100 100 300 400 100 300 100 100 100 300 300 100 16800 100 100 100 1000 100 100 200 300 200 500 1400 r. 700 300 600 500 300 100 800 600 200 400 400 600 100 400 100 8200 200 1100 400 900 4C-0 100 100 800 5000 2000 1900 1000 303 100 200 44 96 84 au '2 23J4 Cosden & Ce Pf. Crucible Steel... 7 Crucible Steel pf . Cuban Am Suuar . Cuba Cane Susar.. 16 . Cuba Cane Suffar pt 3614 . Davl'-en Chcmlc.il.. 45 Y r, Pel Lack & West.. 127 8 I)u Pent (K I) Ce.. 137 S Du Pent Gc'e deb p 81 3 Klec Storage Bat... 44g . Clk Hern Ceal 20 5 Endlcott-Jehnson ..83 . Erie 16 Vt . Erie 1st Pf 2i' . Erie 2d pf 18 S Famous Players L. 82 Ji 5 Fed Mln & Smelt pf 50 V2 8 Fisher Bedy of O pf 88 's , . Flsk Rubber 15& , . Fretpert Texas.... 23 , Genera'. Asphalt... 70 6 Gctneral Asphalt p105 6 General Clsar 76 Yi 8 General Electric. .. .171 Vz Gnvral Meters.. . 14 Vi G Ocn Meters deb 6 81 y2 7 G.-n Metets deb 7 94 Goedrich B F. . 39 V2 7 Great Northern pf . 80 4 Great North Ore ctfs 40 . . Gulf Mobile & N Pf 40 Vi . . Gulf States Steel.. 84 V . . Hendee MfB 24 K . . Housten Oil 75 2 Hudsen M Car 22 1 Hupp Motorcar 19J4 . . Hvdraulle Steel.... 10 7 Illinois Central 107 6 III Cent pf "A".... 110 . . Indiahoma Rcf 4 . . Inspiration Cen Cepi0'4 . . Inter Cen Cerp.... 1 Vt , . Inter Cen Cerp pt 3i . Inter Auric pf 38 100 2'-i lntirnat Cement... JJ 300 2 Internat Cem Eng. 23 K & Int Harvester new.. iei n t; Int Mtr Marine pf . . 71 '-i International Nickel 17 Vz International Paper 54 Ji 6 Inter Paper pf sctpa 70 . Invincible Oil Cerp. 14 14 ,. Iren Products 32 Ji , . Island OH . Kansas &. Gulf 4z ,. Kan City Southern 25 Ji 4 Kan City Se pf 56 J . Kayscr Ce new.... 43 yz Kclly-SpB Tire 49 J, Ki nnecett Copper.. 36 . Ki aten T & R... 15 . L.ickawanna Steel.. 76 . I.iirledB Gas of St L 84 Lake Erl & West.. 30 j 2 I Rubber 30 500 3's Lehlnh Valley .. . u5 U 100 7 Liggett & Myers pfU8 Lew 62 ti 544 154 M 67J4 54 K 38 Ji 63 62 i 57 1G8J4 121 514 70 1 1 0 I i 43 12J4 115J4 95 H 6 19 6 Hi 9SH 3714 99 S4 79 39 57 12114 142S.J 139 16!i 41 87 90 108', 32 44 H 5214 40 53 115 101 !4 90 3V4 108 36 119 52 61 3114 28 34 74 77 98 108 U 25 111 50 9314 28 12 61 i 8 140 85 39 36 Vi 70 14 68 J, 10 27 4414 7614 43 Vz 81 94 14 22 14 29 Ta 76 71 31 48 55 89 12 16 65 Vz 11 12414 70! 10414 117 44 96 80 9014 2314 16 36 45 Ji 12714 137 81 44 20H 83H 1614 24 18 82 Ji 5014 88 1514 23 69 105 7614 171 14 14U 8114 94 39 14 80 39 40 83 23 75 22 19 10 107 110 4 40 1J4 314 38 33 2311 101 la 70 17 "z 52 Vz 70 b 14 32 4'-i 25 Ji 5614 43 48 '4 36 J4 1 5 14 7514 83 1i 30 Vz 30 64 3; 118 1:80 Net P. M. Gig. 6214- 14 55H 214 15J4 Vi H 14 68 - 14 55J4 H 39 6314 214 6214 1 14 114 1 14 2J4 J4 V 14 Ji 14 Vt 14 1 " Vt " J4 114 14 H 1H H 54 54 1 57 169 121 514 70 1 1 1 H 43 13 118 95 6J4 19 62 3914 114 57 139 1614 41 -87 -90 10814 32 44H 52 40 53 115 10114 90 314 108 36- 1 20 52 K 62J4 31 14 28 36 74- 77 1 98 14 108'4 25 111 - 51 93 U 28 14 - 12 6114 8 140 86 39 36 14 -70J4 69 11 27- 44141 7614 V 43 14 - 14 81 94 14 -22 29 Ji 764 71 -31 48 55 8914 16 - 65J4 11 - 1 24 J4 71 10414 117 44 96 83 90 14 2314 16 36 45 Ji 12714 137 214 81 '-i 44 -20-8314 1614 2414 18 82J4 5014 , 88 14 15J4 23 7014 105 7614 171 (4 14-? 81 lj -94 39 li Dlv. SMtt In I STOCK Ttlxh 700 7 Lima Locomotive... 110 1000 .. Leew's Inc 15 900 12 Lerlllard (Pierre). .156 100 7 Louisville ft Nash.. 128 100 7 Mack Truck 1st pf. 8714 100 7 Mack Truck 2d pf . 78J4 100 ,7R Mclntyre new 1614 100 4 Mackny Ce pf 6514 1400 .. Mnllnsen ft Ce.... 34 200 .. Market St Rwy. . . . 6 100 . . Mar st Rwy 1st pf. 32 800 .. Mar St Ry 2d pf. ... 21 14 , 400 6 Mar St Ry pr pf . . . 61 I 1500 .. Marland Oil 40J4 200 .. Marlln Rockwell... 14 1500 .. Mnx Moter Class A 66 7600 .. Max Moter Class B 24 14 1100 8 May Dept Steret..l19 ' 4100 12 Mexican Petroleum. 162 6000 6 Mex Seaboard OIL. 33 2000 6 Mex Senbeard ctfs. 31 300 2 Miami Copper 29 J4 2800 1.20 Middle States Cerp.. 1314 5400 .. Mldvale Steel 3614 1100 .. Mln ft St Leu's new 11 100 .. Me Kan ft Texas.. 11 2000 .. Me Kan ft Tex wl) 1714 500 . . Me Kan ft T (wl) pf 41 14 300 .. Missouri Paclfie.... 21 900 .. Me Pacific pf 5614 100 3 Mentana Power.... 70 300 .. MontRemcry Ward. 22 1200 .. National Acme 18 200 7 Nat Biscuit 150 100 7 Nat Biscuit pf 124 6700 ., Nat En ft Stamp... 56 li 600 6 National Lead 101 J4 400 . . Nat R R of M 2d pf 5 100 ( N O Tex ft Mex.... 6714 200 .. N Y Air Braka 79V4 1000 G X T Central 9614 200 214 New Yerk Deck. 3614 1 1 14 J4 14 14 14 J4 H 14 14 1 514 14 1 1 14 H ' H "l4 14 1J4 14 14 14 14 14 Vt 14 it 80 L 39 40 83J4 2 24 1 14 75 1 14 22- 14 19 10 107 110 4 40 14 - 114 314 38 33 2314 10114 71 '4 -s-17J4 54 Vz 70 14 14 r 4 14 25 Ji-56a-4314 49 14 1 14 36 14 14 15 14 7614 1H 84 1 3014- 14 , 30JB 1 6514 14 118 r J4 800 .. New Yerk N H A W 30 li 3200 6 North American.... 69 200 3 North Amer pf.... 44 14 '1100 .. North American rta 9 300 6 Northern Paclfitj... 78 100 .. Neva Scotia S ft C. 3114 200 2 Ohie Fuel Supply.. 50 1100 .. Okla Pred ft Ref . . . 2 500 .. Orphenm Circuit... 18 130 .. Otis Steel 11 14 200 .. Pacific Mevel Cerp.. 6 14200 3 Pacific Oil 57J4 300 .. Pacific Tel ft Tel... 66 3300 6 Pan Amer Petrel.. 7214 300 6 Pan Amer B 66 14 100 .. Panhandle 714 1200 2 Pennsylvania R R. 44 1000 .. Penn Seaboard Steel 814 1500 6 Peeples Gag Chlca 87 300 .. Peoria ft Eastern.. 23 2300 .. Pere Marquette. 33 100 K Pern Man prier pf 77 5900 2 Pb Tips Pet 45 Ji 100 .. Plcrce-Arrew Moter 18 100 ,. Plerce-Arrew Met pf 37 100 .. Pierce OH 8 200 . . PlRcly WlgRly Ster 41 1000 5 Pitts Ceal f414 100 6 Pitts Ceal pf 96 500 . Pitts f.. W Va 39 200 6 Pitts ft West pf 8814 700 m Pend Creek Ceal... 21 100 8 Pestum Cereal nf. .10714 . Pressed Steel Car.. 8214 . Producers ft Rcf... 39 6 Pub Ser Cor of N 3 90 8 Pullman Ce 12314 . Punta Alegre Sugar 47 Ji 2 Pure Oil 2914 8 Pure Oil pf 97 A 8 Ral'wav Steel Sne..1CB!4 1003.41 Rand Mines 28 600 .. Ray Cen Copper... 16 1200 4 Readlnr 75 2 Reading 1st pf 5214 2 Reading 2d pf 5214 . Replogle steel 3314 . Rcpub Iren ft Steel 7314 . Rep Iren ft Steel pf 92 14 . Reynolds Springs... 44 J4 S Reynolds Teb B.... 46 56005.20 Royal Dutch N Y.. 56 J4 100 ..St Leuis San Fran. 2814 100 ..St Leuis 8 Fran nf 49 Ji St Leuis Southwest 2814 St L Southwest pf . . 46 54 San Cee Sugar.... 4 Saxen Moter 314 Seaboard Air Line.. 7 !4 Sears-Roebuck .... 80 200S3i Shell Transport.... 40 6400 2 Sinclair Cnnsel 32 400 . SleFB-Shcflleld 48 6 Southern Pacific. .. .1 90 . . Southern Rail 24 . . Southern Railway pf 57 14 . . Splcer Mfg Ce 1914 8 Splcer Mfg Ce pf . . . 8814 4 Standard Oil or e&1105 6 Standard Oil of N J18214 7 Stand Oil of N J pf!17 3 Sterling Products... 52 . . Stromberg Carb... 4614 7 Studebaker 1 39 14 . . Sub Beat Cerp.... 7 .. Superior Oil 6J4 . . Tenn Cep ft Chem.. 1014 3 Texas Ce 4614 . Texas ft raclflc... 2914 1 Texas & Pac C ft O 26 6 Tobacco Product.. 57 . Tobacco Products A 81 7 Tobacco Pred pf. ..10414 .. Tobacco Pred rin.. 2314 .. Transcontinental OH 17 .. Vnien Oil 21 14 10 Union Pacific 14314 4 Union Pacific pf... 75 7 Union Tank car.... 98 United Alley Steel. 40 J4 54 54 ' 14 14 1. 14 14! 600 2800 3200 300 100 1600 100 1600 100 100 1500 3200 I 100 400 200 500 600 100 200 200 4200 1800 200 400 200 100 1600 200 400 900 200 18100 600 800 700 3800 300 1700 2100 4900 100 500 2600 3100 1600 200 100 2700 100 3H United Drug 1st pf. 45 500 8 Utllted .Fruit 143 2900 .. United Retail Stores. 6714 5300 .. Unit Retall Ster rt 1 200 .. U S C I P ft Fdy.. 33 100 ..US Feed Products. 7J4 100 .. U 3 Heffman Mach 2314 7503 ..US Ind Alcohol.... 61 200 ..US Realty ft Imp.. 68 3000 .. US Rubber 63 11500 6 U S Steel 101 300 7 U S Steel pf 120J4 600 2 Utah Copper 65 100 . Utah Securities 1614 3400 .. Vanadium Cerp.... 4714 200 .. Va-Car Chemical... 30 600 .. Vivadou Inc 400 .. Wabash pf A 600 ., Western Maryland. 12 100 .. W Maryland 2d pf 19 200 .. Weatern Paclfie.... 18 200 7 Western Union Tell 03 1200 4 WestlngheusclEftM. 6114 100 2 Whlte Eagle OIL... 25 Ji 600 .. White Oil Cerp.... 8Ji 1400 .. Wlllya Overland.... 9 100 . Willys Overland pf. 4814 , 100 S Woolworth F W....16314 600 4 Werth Pump A M. 5214 200 1 Wright Aero 8 14 Kx-divldtnd. 11 14 3214 Lew 10814 1514 155 128 8714 78 J 1614 6514 3414 6H 32 21 60 40 14 66 2314 11754 160 32 3014 29 1314 3514 11 1t 17 J4 41 21 56 70 2214 17 150 124 5514 100 4 6714 79 96 3614 3014 67 4414 914 76 Ji 3114 50 2 17 1114 6 55J4 66 70 6514 ' 714 44 814 8514 23 33 77 44 18 37 8 40 63 96 V 38 88 21 10714 8014 38J4 8914 122J4 47 Ji 2914 9714 106 28 1614 74 5214 5214 3214 7214 92 54 4414 46 56 2814 49 J4 2614 4514 4 ,314 714 7914 39 3114 47 J4 89 24 57 1914 88J4 103 182 117 51 4614 13714 6J4 6 10 45 Ji 2914 25 56 14 79 Ji 104 14 23 16 20J4 14214 75 98 39 45 142J'. 66 Ti 32 7J4 2314 6014 67 J4 6214 100 120 64 1614 46 11 3214 11 19 18 103 61 25J4 8 8 4814 163', 52 8)4 1:30 Net P. M. Ci. 110 2 15 H 156 1 120 - 5H 8714 78J4 74 1614 14 65 J4- 14 3414 H 6H- .J4 32 - 1 21 60- V 40J4 14 14 - 1 66-2 23- W 119 4 161 114 3214 3014 54 29 14 1314- 14 35J4 11 - H 11- 14 1714- 14 41141 21- H 5614 14 70 22 1714- 54 150 5 124 55J4 114 101 J4 114 5 14 6714- H 79J4 1 96 3614- 2 30J4 54 68J4 1J4 4414 14 9 78 - 14 3114- 50-3 2 .. 18 1 1 54 6-54 56J4 114 66 71J4 J4 6614 54 7J4 44 8 14- 14 86J4 154 23 - 14 33 14 77 - 44 14 18- 14 37 - 14 8-14 40 14 6414 114 96 38 14 88 T4 21 10714- 54 8214 214 3814- 114 89 14 1 14 12314 214 47 J4- 14 2914- 14 97 54 - 14 108 214 28 1 1614 75 FREE OFFERING OF PIT. UNEXPLAINED Stock Falls Back te 30 Despite Favorable Earnings for Half of Year The free gelling of V. R. T., cnrrylng that stock down te 30, wns nbeut the only development of, note attending the day's operations in the local market. While the sellins was net urgent, it was of n persistent character nnd bad nil the earmarks of the closing out of n stale or tired speculative ncceunt. Ne effort wns seemingly made te support the mnrket until the lower figure wns reached, when nil further offerings were readily absorbed. The liquidation came in for mere no tice because of the relatively fnvernblc statement the company mnde for the month of June nnd for the first half of the current calendar year. While gross revenue wns smaller by $40,000, this was mere than offset by reduction in epcrntlng costs, resulting In n net income of $100,200, or approximately 3S000 in excess of the same month Inst yenr. Fer the bIx months' period the net Income wns $1,200,707, compared with $1,010,408 for the corresponding period in 1021. Trading in the gencrnl list continued of the wimc diminutive proportions noted in the recent sessions and except in n few obscure issues wnn unpro ductive of nny mnterinl price changes. The I'hilndelphin Klectrlc phnres mnin tnlned the wimc noteworthy etrength nnd added further hinnll frnctiens te the recent gains. Pennsylvania Hail Hail read wns still well taken nt 44, but Ihe trnnsactienx naturally were curtailed te some extent by the uncertainty of the railroad labor situation. Among the inactive stocks Pcnnsjl vnnla Salt mnde u new high for the year at Te, nn overnight gain of a point nnd nbeut fi points within the last month. On the ether hand llrlll sold off n point te 41, and American Iinilways preferred made n idmllnr less nt 00. Offerings in both issues were very small. Philadelphia Insulted Wire vicldcd '' point of yesterday's gnin fnlling back te 37 Vi. U. (j. I. dropped hack te 52Vi; en miner transactions. Philadelphia Stocks 5214 14 5214 54 3314 1 72 54 114 9214- 44 54- 46 56J4 2814 4654 14 4 14 3 14 - 14 714 14 8014 114 40 - 31 14 483 90 24 57 J4 1914 .. 8814- 2 104 18214 1 117 51 - 1 4614 114 139 1 6Ji .. 6- 10- t 14 14 1 MB lllirh Lew P. M. 10 Am S & C llTi 1 10 2S Am Kyu pf m lOfH & O.. r2;A 100 llrlll .T G. 41 10 Klec Ster. 44 25 Erie Light prcf.... 25 00 Gen Asnli lO-'-i 100 de pref.-lOUa 104VjlU4 l,4 20tKelly Spg Tire ... 40V, w 403419J nOtKcy T&U l.V'fs 15 15 10 Lake Sup. 10 10 10 V 20tMex Pet.l01V4 1014 101141!,'4 U'ltOkln Pred Nt ens. - (50 (10 1 52 52 41 41 1 44!)4 44?4 25 25 . . n 70iy8 2 44 75 1 4614 29 14 26 14 56 80 16J4 20 .. 14314 1 75- 14 98 - 1 40 1 14 45 1 143 1 66J4 14 1 J4 33 7J4 Ti 2314 14 61 54 68 63 1 100J4 154 120J1 64 J4 16J4 47 30 11 14 3214 11 19 -10-103 6114 25 J4 8Ji- 8Ji 4814- 1 63 14 1 14 52 14 814- 14 37SPennn Hit 44 44 105 Pcnnn Salt 75 75 00 Phila Inn Wire.... 37s 37 37i 13 Phila Ce cum pf.. 30 38 30 Va 240 Phila Elec 20 2!Vi 20 Vi 204 de pref.. 30 30 V4 30- VI 10S0 Phila It T 30 30 30Vs 200Rending.. 74 74 74.. 2(ltStudebkr.l304 130 Vi 130 2 lOfl'rans Oil 10 10 10 25fUHet Strs07 07 07 40S TGI.... 52 52 52 25 de pref.. 54 54 54- 300 Yerk H pf 37. 37 37 Ex dividend. tN'et change made by compsrlien with last sale en New Yerk Stock Exchange. PHILADELPHIA BONDS 5000 Liberty 2d 4s '42 100.72 200 Liberty 2d 4s '42 100.40 9000 Liberty 2d 4h '42 100.02 200 Liberty 3d 4h '28 100.38 5000 Liberty 3d 4h '28 100.50 750 Liberty 3d 4s '28 100.40 100 Liberty 3d 4s '2S 100.34 300 Victory 4-lts '23 100.38 1000 Victory 4 '23 100.54 1000 Electric & Pee Tr 4s. . . . 07 3000 Lehigh Vul con 0s '23 rcg 100 500 Phila Electric 5s 100 1000 Philn Electric 1st 5s 00 aOOOPhlln Electric 1st 5s 004 5000 United Hnlhvnys Inv 5s. S0 1000 United Railways Inv 5s. 87 FINANCIAL BRIEFS Vt ' 14 '54 14 14 14 54 Your Greatest Business Hazard Bad debt losses are any Manufacturer's or Wholesaler's biggest business risk. t Yeu can't foresee when such a less is going te hit you, or from what source. Eliminate the unknown, the uncertain; change chance te certainty, worry te peace of mind with the American's Unlimited Policy of Credit Insurance. It makes your book accounts a known quantity; it safe guards your credit resources absolutely. Limited Policies at lower cost. Full particulars furnished without obligat ing you in any way. Payments te Policyholders ever $11,000,000.00 AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E.M. TREAT, president II1UES STANDARD UNLIMITED POLICII W. J. Merphy, Manager J. F. MacFadderfJ General Agent 1011 Chestnut St. PAene Filbert SS03 Philadelphia, Pa A Thoroughly Seasoned Bend BALTIMORE ELECTRIC CO. of Baltimore City 1st Mortgage 6, Due 1947 Protected by strong underlying mortgage and unusual sinking fund. Guaranteed principal and interest by Consolidated Gas, Electric Light & Power Ce. of Baltimore under terms of lease. Price en Application LEWIS & SNYDER 1524 Walnut Street Philadelphia Telephene: Spruce 6884 MEMBERS PHILADELPHIA STOCK EXCHANGE NEW YORK STOCK EXCHANGE Telephene: ' ritll. Sprtife 7MI ) Keystone. Rice till Jillv D ernl'T .l-inunry Mftrrh . . May .... : i.i .'! 4A FOREIGN EXCHANGE ' New Yerli. July 18. Opcnin; Hg- , nrna nn fnrplsn pxchaiiee this morning ' U AH ' In must of the Issues show a sharp rise . T., t ...,,. 1,,.. nleht'e nlnslnir. Til Advance H'J In M.'rllnfc, francs, Italy nnd Belgium Demand ..... S'i has largely been nttrihuted te the story Cabi. , t.u from Londen renaming a ies-juuhii) ui HARPER &TURNER Investment Dnnkers Hemters Pfltettlphla Stock EtthznU STOCK EXCHANGE BUILDING Philadelphia fcrtnten W, A. Harrimun & Ce. INCOnPOItATED Drnxel IJMiJ.. Philntlnliihln NEVYIIIIII C1IICAGO BUI'I'AI.O KYHACUKR I hinull cien outlook, little attention is I IjpIiil' civeii te thee tenilitinn'j and the mnrket druics along in a narrow run irem tiny te nay. There hud been but little change in the market tin te midday, Although prices en some of the uctlvn months eased a ielnt or two. un me wneie tne market wus stagnnnt. July Hepttmber December MK'di Hid Vent, rlene. II tin u ill II .'.Oft. 11 li T4U li 41 li 4.1 1022. ri eiept.. i MIDLAND VALLEY RAILROAD A. & B. BOND SCRIP Bought Sold Quoted SAMUEL K. PHILLIPS & CO. WMMTa nlillH twn "nun -'Hf 'vt BI.lltI.nTI I'CMKSTNUT JTEKKT today en NeH- Yerk funds was 1 per ient. The rate of discount en Cnna. than funds in New Yerk was 31-31! per cent. YEBTEFIDATS CI.OSINO QUOTATIONS Sterling Prunes Ura OullrterH H.illl 4 as 3H.72 8.29ft 4.0h'i 38.77 TODA.Y'8 OPENING QUOTATIONS NEW YORK COFFEE MARKET lrn.tl' rmlptlnn in war debts and1 BUrllnjr Franci Lire Guilder. Nw Yerlt. July 18. The local mar- r.umnitinn navments. xe far as Frnnce "'WI iliii 1V2 ih 22'iS '- 1..1 ir . . ---. , l,l ..trn.. -.- .-. ftvu uut.iu ki't for teiiee wiuren tipeneti m a ui- .and (iermany are concerned, iinu uuirr " eline of 1! te 3 points. There have been exchanges were sympathetically nf. VQ Certificates and Treasury Notes Inn developments in the mnrket te in- fected ,. ,, , ... ,.. . ... I ,,.. ....mediate clmnsP In tl... , Sterling cables were 4.45. demand i''?0lrnBln'ir,eh.,hSp?n0,n1n?rlt;t1Crerbnite. gcncr.il attitude of the trnde. While 4.44"'i J franc cablet eAlVj, elieelts Hutea certificate! of InJebtedneM and notes there are numerous bullish feature- In 8.40:', : ltelKlnn cables 7.!Ui. checks yf the dirterint Usue. tin. kiiinitiiin. such as a tirni MntlMl-' 7.111 '. Swiss cubes llJ.le. cliccKs , nm ni ' ..I ! e .....ii.i.i ..nflf.itu . 1. 1 ". . IIh. ....l-ilna .lift nhi.elrU 4 ''M. ! 4 '- HDt I ll. IMIMIIWIl ''I i iilinittiitiih ....it....'- ..l.'lj.i.j, ,,u u.tl.ivn vi, ...a........ . w ,-j , 4.r,- .. r 7 .... .... ... s.rftrtisu ii. ..m i ' ".' IJCM'lll I.-UIIII.-H A.F.tw, unwn ..W..W, guilder cables 38. 83. checks 38.78; Swedish cables 2H, checks 2.1.05; Den mark cables Zl.tiTu checks 21.50; Nor Ner wny cables 10.62, checks 10.57 ; marks, 21 Vi- At mid-forenoon the leading Euro pean rates continued their upward movement, both francs nnd lire setting Onen Intn metier irreuml. with sterling due en date of maturity ll 5.1 ..-I... !..... ...l ...!, ll.n, Cl.nnlln. ' ' li l.tTn NII IMll'-. Illl'l llliline ii.tiit .........f, !''?' VI ' li.. i in. .1 1 I .ir.l . .., inv 17 CUUIl-i 'liW'J, urillllllil 1.-IU7S i iiiiiiu )'! ? cables 8.45, checks 8.44', ; lire cables " ' fl" I4.dll. checks 1.05V.. ; guilder cables '38.85: cheeks 38.8(1; marks .21SS. I The Central Kurepean Exchanges te day were in e ji 1 1 1 a r and very little changed from yesterday's figures. Hit -manlau .5!); Itulgarlun .72; (ircek 2.1)5; (.'zeclio.Hlevnkiuii 2.25; Siberian 1.11); Juge-Slavlan .20; Finnish 2.15; Austrian .0041; Hungarian .08; Pe- llsh .0U1B. The raw of premium tt Ment 3'i Oct. 1022 JJOC.t IVi. Dee., 1022. Mrh.. 1D2K. 1aC June, 1023. .. .100 1-10 100V4 fiC June. 102., ..108 103U t'li! 4'I nU Aaked Yield .100 B-32 lOli'i a. Ill) .100 U-HJ 10HS S. 00 .loe i-32 ioe a-a: h.ei .100 1.32 10U6-32 S.21 .100 13-32 100 17-32 3.10 1UU lli-6i 1U0 17-83 3.4 vt a.ns 4.04 t'Bli Sept.. 1D24....102H 103 4.04 MS Men.. 192ft.. ,.101ft 101H 4.10 t'4H Dec., 162ft.... 100 100 4.10 T4ii iicn., iui....ju. luzvt 4.11 Hiempt from Federal normal Income tax. TACceptame ter paymeni or Income tai Liverpool Cotten 1 l.lteriioel, July 17 riu-re ii ijuiet il.i mand for apnt cotton twl.iy wlih nilild.lii7 24 points lower lit l'l 29i Thn iH' cre HO00 liAleat. The rtidlt! rre 3000 Lial", of tvtitch 2B0O balea were American Future! ware iteady In the early dealing!. .Spot benctn, paper, ucci-pt. prlV were: American middllns fair, 44,aidi soeAmlddllnr. lS.Oldl fully mlddllnir. 13.44(1: mluAlnf. l,29d low mlddllMT, 12.4d; geed eruinarr. u.lri, ana cwinarr. li.a. Reserve Banks' Discount Rates Off'rlal redleceunt rate! at the twelve Ted frul Ilenene tianka nre na follewn: irein. 1. 1). in mi iinrn ciu. uunii. Itnaten New Yerk Philadelphia ... Cleveland Richmond Atlanta Chlcate Ht. Jyiula MlnneaDOlt! .... anaaa City ... Cottonseed Production WMhlniten, July 18. Cottonseed prod pred ucm manufactured In the eleven-month pe pe rled, August 1 te June 30, aa announced to te day by the Cenaus llureau, Included: i?hUiVi"fc.?--!i;-U(UB,0 ,'eu.n'J" nipared w. t,n,,e,iMlJ5,0-"''J,, uni nn 'lttnd June 80. 12, 1U3.6U1 pounds, compared with 37,281),- " Heflned oil .881 0B2.02S pounds, com cem P?..?",h M"MT.0. and en hand. all,. 070.222 pounds, compared with 200,U17.78i. Cakj and meal. 1,343,470 tern compared with 1.717.343 and en hand. 81.751 tens. compared with flH,203 I. in 4.2!) pared with 151,222, with nters. 3114.004 l)1 rnmnir.J .4. ..,. ' . " i. " . '-T.'- I " i, ii, -,ii.. ami en nana, UB.iljl Palee. com. ren with iai,222, Cotten!eed cruahed in ih riev.n mnit,. Perloe waa 2,OSO,010 tone, oemnared with ,1.0117 021 In thn sarpe period last year, nnd hi iiiiiM. ..una ou, iu,i,ii una. c en 1US.573 Expert! for the period Included! 123,105 hales, compared with 47.709, tens, compared with I.lntera, usiiiaa. .......ti. Ean yranolace.. 144 4 4 4 4 4'i 44 I'i 41. 41 I'i 4 ill .y Yt i W 44 44 4 44 4V4 4 44 Vi 4V4 4Va 4V4 4V4 (18 8 8 !v ! fvt lii B. and O. Equipment Certificates Iialtlmore and Ohie has sold subject te thn apreval of the Interatata Commerce t.'omQilatlen 10,7110.000 of 8 per cent equip ment trust certincates, maturln In equal annual Installmenta from Auarust 1. 1023 te Auguii i. just Inclusive, which cer- iiiiwa.cw ""i" "" niecea privately ny Kuhn. Cltj Company. Colombia Syndicate New Well IMttkburth. July IS. Colombia Syndicate hue bruuaht In u tlOHlnu well. Its third com. Illation tin lie property In Colombia. The well la alena thn MHKdalena Itlwr en n l.OilO.OUO-aire tnitt owned ,y C..lninl!la n udjelns the ureperiv of the Leenard Oil J)e veluiinent Company, Londen Metal Market .nJ'n',0?'.July -r-Htandaril ceppr, gPeti future.,-lB5 18i. Tiad: apetri 17. fld 5iMij,"??- iin wf- Si1 Imperial OH Company has cut the price of Canadian crude oil 25 cents a barrel te $2.03. California produced 10,058,220 bar rels of crude oil in June, averaging 355,274 barrels dally, against record production et ii,U7,ueu enrreis a tiay. The average nrlce of the twenty ac tive industrials declined 0.09 per cent yesterday te 05.20, while the twenty railroads declined 0.01 per cent te 87.55. The National City Company Is offer ing n new issue of $4,000,000 first mortgage 0 per rent twenty-year sink ing fund geld bends of the Crown Cerk and Seal Company, of Ilaltlmere. nt 0(1 and interest, te yield nbeut 0.35 per cent. The bends, dated August 1, 1022, innture August 1, 1042. Merger of Columbia Steel Company and Utah Steel Interests into new S15,- 000,000 Columbia Steel Corporation will mean construction of tour new units te plant nt I'lttsburg, Calif., nnd, al though merger is still In formative stage, surveys have been carried te such a point as te provide a working pro gram. Clarence Dillen, head nf the invest ment banking tint, of Dlllen-llead Com Cem pnny, who has returned nfter two months spent in InvestiKiitlng financial conditions in Kurepe, declared that the phase of leans te Governments of Eu rope is rnpldly passing and that the next phase In the development of the International relations between the United States nnd Kurepe will be leans te industries private arrangements be tween bankers here and Industrial lead ers abroad. Merrill, Lynch c Ce., Pcarsens-Tnft Cempnny nnd Sehibener, Tteenntng A Ce. Iinve sold $1,750,000 Johnsen-Cowdln-Kmincrich, Inc., first mortgage twenty-year 7 per cent siti'dug fund geld bends, due Mav 15. 1042, nt 09 nnd Interest, yielding ever 7.10 per cent. The Louisiana and Northwest ltnil ltnil rend Company lins declared nn Initial dividend of $1.50 n shnre for the nunr ter ending September 30, 1022. The disbursement will be October 1. The company's report for the year ended May 30, 1022, show gross revenues of $1,001,003, expenses of $1,025,012 nnd net earnings of $035,000. Allowing for Interest nnd sinking fund requltcments, thn amount applicable te dividends and ether corporate purposes stunds at $428,152, cciulvulent te $18.01 a shnre en the $2,300,000 cnpltel stock. MONEY-LENDING RATES NKW YORK .Meney en call, both claaaen of (ellateral, opened today at a "i,.r "J for lending and renewing-. rilI.AIKi.rilI. cm 4u .... ,, time. 4'i te 414 Per cent. cenmrnrctalVpft' three te alx months, 4V4 te 4i per cent, RAILROAD EARNINGS CANADIAN PACIFIC Becenfl w;ek July.fj,. liMRS.MO iioes January 1-July lr.,IO,M),0OO fiilMOd M. F. MIDDLETON,JR.;&CO BEG TO ANNOUNCE THAT i. FRANK L. SMITH ELWOOD C. JEFFERIS ROBERT C. HOLMES HOWARD R. HARTMAN HAVE BEEN ADMITTED AS GENERAL PARTNERS AND FRANK P. LAUER AS A SPECIAL PARTNER I 423, 424 AND 425 STOCK EXCHANGE BUILDING '! 1411 WALNUT STREET ' PHILADELPHIA JULY 16. 1922 ei9y'! Don't let worry about the safety of your household treasures spoil your trip. Even such bulky articles as oil paintings or chests of silver may be stored in our vaults. The cost of n Safe Deposit Bex is a small price te pay for freedom from care concerning your valuables. North Philadelphia Trust Cb. Bread St and Germantown Ave. Above Brte Avt Philadelphia TAX FREE MUNICIPAL BONDS $275,000 Warren County, Pa. Read . 1921-48 4.059b 75,000 Bore. of Bridgeport Scheel 4'4s 1932-51 4.10 400,000 County of Brad'erd, Pa. Imp. 5s 1930-46 4.125 110,003 City of Alteena. Pa. Scheel 4.14s 1924-42 4.15 120,030 Legan Twp. Pa. Scheel 4 195242 4.20 ML M. FREEMAN & CO. 421 Chestnut St. Phene Lembard 0710 Earsly Bres. & Ce, BANKERS Investment Securities Mat Chtstaut St. PhU.dtlphl. . t "i IJuullr Utility rrurlrlr terb Exrljnnet uiUlnfl. Pj Congeleum Common'" d Virginian Pewwr lg vrvmsinX WW, Hi. -J i e . .-il ? r.r ,H-- h. avf-; !i r.l'ii . &hk ftyft.Y'W wu M.'.-Sl WrlL.JfUft &t
Significant historical Pennsylvania newspapers