' '''U')NSHWr-I'',r',W'fV' yVKj"W ariAKit,a "j-tii I'mAc e " " i'IST 'f Y ''." '"I' -.$'(- -r rr -W'i' ) 1 ': mid' ht . . EVENING PUBLIC LEDGER PHILADELPHIA, TUESDAY, AUGUST 1, 1922 py vm Iff f I City of Montreal C Bends Due Nev. 1, 1956 , Principal and Interest par able In cold In New Yerk Montreal, with a popula tion estimated at 730,000, is the most important manufacturing, commer cial and railway centre of Canada, and the leading pert of navigation. 96 and interest te yield 5.25 Full particulars P-81 en request. Weed, Gundy&Ce. Incorporated 1 1 Wall Street, New Yerk Terente Ixinden, Montreal Nlnnlper Knr. Forty Years Without Less STRAUS Protected First Mortgage 6lA Bends have brought safety, sat isfaction and profit te thousands of investors. Fer full information call or write and ask for BOOKLET 796-Q 1 w feW. STRAUS 5c ca IWCOIirOftATirJ . SJTABLIJHSD l58 Stock Exchange Bldg., Phlla. v Ttliphent Srsuci 5618 m 40 ynrn without ! te uny IntrMur Bought Sold Quoted American Rwjr. Ce. 5'i, 7'i, 7'i'i & 8' Keystone Telephone Ce. 6's 1929 Conn. Rwjr. & Light Ce. 4V 1951 Penn Public Service Ce. 5'i, 6'i, 7',i' Ohie Valler Electric Ce. G'i 1946 Bradford Elect. Ce. 6'i 1929 Ohie & Weitern Utilities Ce. 6'i 1929 Wilmington City Rwr. Itt 5'i 1951 Bloeminiton, Decatur & Champ. 5'i 1940 Scran. & Wilkei-Barre Trac. Ce. 5'i 1951 Kcrttene Power Ce. 6V$ 1952 Samuel McCreery & Ce. ifembers Phlla Stock Exchange Franklin Bank Building wprurr HD70 1 .m.larRee. BANKERS 321 Cheatnut St., Philadelphia Established 1837 Members New Yerk nnd Philadelphia Stock Exchanges ffertteli Srnc. & de. JubMr Utility &rrurUtre SHatk Exrt-nne Butlntnn. fHrlla. American Gas & Elec Common & Preferred I'hanesi Loeunt ur-O-l-2 V Private Phenns tn New Yerk & T3oaten Atlantic Refining 5s IDfl MORLEY, VOOD & CO. 333 Chestnut Street 5Iemlirr N. . 4 I'hlln. -.tetU nxrh'as HARPER &TURNER Investment Hankers HtmBers fftlladtlphla Stock Cefimt STOCK EXCHANGE BUILDING Philadelphia ,Scsn(en W. A. Ilarriinan & Ce. INCOni'OUAlKD Drexol IUilii., riiiiiiilf-lpliin NIW VOIIK CIHCAfJO BUl'FAl.t) SYHACL'SK Lawrence E. Brown & Ce. CERTIFIED PUBLIC ACCOUNTANTS JJflO KKAI. KSTATK TIWHT 1II.IIO. luvtstlante and adjust corperMlon na rartpershtu account ana fisiiar losenu, Taa llsturns. HIGH-GRADE BONDS Helman, Watsen & Rapp Lund Till llldf. PENNA. TAX-FREE BONDS PAUL & CO. HerntirrV I'lilla. Htnrk Ksrhani .V OHFtTllllT CTDCrT KJj W Va Nut Carry tlurgliml Atvuunta fa'." E E Rales 2300 100 100 100 2100 400 400 4200 1930 200 200 200 300 8500 600 400 100 100 700 3200 700 200 100 300 100 390O 300 1200 800 1300 1500 500 1000 700 200 2300 700 300 700 1500 BOO 100 22J0 700 3500 1500 200 400 100 1200 100 300 8603 12600 500 100 200 1800 10D 1900 400 2500 500 200 100 100 2000 500 200 300 100 1100 200 2000 1900 100 1700 200 100 500 13600 3300 700 700 700 100 1300 100 600 23500 16900 2330 9700 400 100 1100 100 930 100 403 500 200 1930 800 100 100 15400 230 600 4203 703 1203 10630 B 100 21JJ 500 800 2200 2703 300 203 930 300 Interest Centered In Teday'3 Conference of the Rail road Executives New Yerlt, Aug. 1. Today' stock market hhewed n geed deal of lrrtyru lnrlty In tene nnd movement. At hni been the nine for seme time, negotla negetla negotla tleni te end the coal and railroad strikes were the demlnent Influence nnd the trnnMirtieni for n Inrse part rep-rc-entinj a thlftlnt; nnd udjustlng in anticipation of thW event. Following the program of tlie recent sesfclenn, the wheli' lit btertffl of well, the upward movement, wliii h was tenipernrily hulled in the late trailing jcntcrdny by the iiregri"i4if advance In cull mene rt'te., wi resumed with considerable v-Ser. The forward Hiving, how hew i.er, uns liilt-il again beferu midday wilt rrni'liid bv meeting n freh wave of profit-taking. The room trnden turned te the wllmg hhIu in the afternoon vihirh, with the renewed peel liquida tion brought ginernl declines. .Naturally Interest centered in the rr.M'ting of railroad executive held to day. There was a confident feeling In financial drrlei of the railroad prccl 'tents iicr opting the Administration's plan V r the settlement of the shop shep men's j-trlke under protect. This opin epin 1'iti. hev.e(r, was net altogether unan imous as there were many who re-gard'-d the manngiTs as holding the . nniiig hand arid .felt there was no r'-a-un fir giving ground at this time, ll.e Street ut large Is anxious te nee some settlement reached nnd it was 1 nt" out tliat no matter bow the end 1- accomplished, it will take a hKi w.ght off the market. FereUn de elu merits money market consdiJeiti censdiJeiti t. n und all ether factors for the time I'lng at least have been relegated te t!ie background. l'rlreu continued te move forward In 'he hrst hour en very exten-ive trad- ng under the Und of prominent indu 'rials and popular chemical titecks. The .' iii.md for the rails fell off In com 1 irNen with jestcrday'H recovery, but 1. 'i new tops ter tne year were made 1 j M. I'ntil ronunen and preferred. At lie same time Reck Inland, Union Pa- I ifii-, Canadian Pacific, Texas and Pa- ' nnd Krle first preferred scored ci.ns up te !"(, points, and Pennsyl v a ii.a Jta.lread recovered the ."0 cents .lNldend taken oft this morning. Trading In the industrial division ' as mere speelalized with activity con cen t nng In "-I'atter'd eeleeted issues. In In t'liiutiennl Paper and MalllMn both II id- new highs fur the year. This wus (.Ti.' by heavy telling "of the oil nnd -I. imping tterks in the second hour, , resnire being directed particularly ugnlnst Mexican Petndeum, which re ui ed '' points, and .Mercantile Marine, which also fell ever 'J points. The mo me eor group likewise continued under pres hure. Prices of meter shares were ham mered tlewn en the announcement of f r'h'T cuts in prices, Htudebaker, 1 'handler. Hudsen nnd Willy Over 'ami preferred fell l te 2 point-. The I! J effei t or tliin .elllng wns counteracted , 11 Midden display of strength in the I M xtcim oil i-hiires, Mexican Petroleum! r.illing 1 points from its earlier I"'''. lurkffl Mrength was nhse I f '.'lntffl bv liuni'Teus ether ln'lus. I (1 ui- ..iid kp"f laities. May Department Stiires sislng .'I points and Consoll Censoll Consell datid ;as. Afecla'ed iJry (ioeds. Ai'.eric.ui Ice l'aneus-Players and, American Unilinear 1 ',. points each. ( I.nter 111 the afternoon there was a ' 'i ni'tnd fop puhlie utilities, Adams and Wells I'arge Kxprei-s, Consolidated .is nnd Wisfr'i I'nieii rlmg one te' I two points. Toward the rlee, how ever, nn active ndlmg movement be- I gin. being ilircted chiefly galnt meture, rubheri, steels and niuinments. w I nil registered losses of enu te two points. Kill read bends led tlm moderate nd vane In jirl'jti in the heavy bend trnd Ing. Heading Is, Central Pacific firsts, Krie (luier.il -Is and Missouri. Kansas 1 and T ns adjustment ."is were up 1, te 1 point, while the four St. Paul ls-ues strengthened in response te the imnascd prh e of that corporation's stock. Foreign bends, esneclallv tl. I.uioeenn issues, were lower, City of I.vi us 1',., and I'epnrtment of Seine "s dropping '', nnd 1 ' points. resp(erively. ' 803 C33 403 533 100 79 JO 5600 1600 7000 100 100 200 800 1800 7703 330 1000 330 100 28700 200 300 300 100 2600 6200 2000 100 300 200 200 10200 700 1700 030 400 400 500 1200 300 200 100 D0O 4000 800 13200 ?00 933 500 403 100 200 190 J 1000 100 10100 6400 1700 2800 100 19J0 333 1930 1400 100 200 600 2000 1 oils,, li'.l'l"! "i.lh is, 1 una ( line con cen wr'ible s and On'gen Short I.lne 4s also wire reactionary. Liberty bends held firm. Trading became dull nnd featureless in tne afternoon, price changes being of a fractional nature. MARKS AT .HV2 PER 100 New Lew Recerd In German Ex change Market Largely Negative New Yerk, Aug. 1. The fenture of the foreign eichange market today was the rcmimptleti of new low records for fjcrmiui x'han.'e. actual business be. ng r"ertid t' la at the lowest tigure "it I, id In en previously quoted, al 'I'i'is'i i-tirdnv no busliiPf-H had In en fi n ait-d Tl.i low rei erd for nil t ie, 1 l1'!1. was iiarhed tedn.v, ui g i. list mi re limitations of IP, ai tin1 in mug en Mmiilnv A-ne fiein miiilss the market was liirg' ij negative, inilv advances being -i iiedeil iv reactions. As previeils , He iie'i'inents in (llher dinctleu wiie ' l.i'. nisniid fiuM fiplgn tiiiniiM.il ' ' ti'i I's In the ,'ifteriloeli Ip i I in II it- ti iii I out and nt the i "telling, whuli had moved within a inuge of ',, was 'M under vistir'.iv s lin.il. PruJi' -. .it a ni i dei Hue of ." points, were ki ill l'J IlO Ml Hi U 111 II - 111 I- I )a in lnt ubevi. vi -ti iin 's ,,w M.irks, e illlj . shoved a less of I',. J',e. usta ni d a net less ,,f e point"; '' , Swiss, up ; pesetas, down '' , li, tun hanged ; .Norway, up .1 . Sweden, i, '' and guild cis. iiiieliangi d. I. ate iinnt.it h win : Stcillng i.ililis 1 ll'i, demand I H1,. ftnnc uibles s :,, after s l'l inrlv, ihnks Sll',; lit lgi.ui eablis 7 7H. i Ins I's 7.71! '-j . lire rabies I..VJ, i links I'll1 j. piseln (lihli's I ,",1. l-heiKs 1,1 111; Swiss cables 111 01', ehechs is 'ill; lUinhh i ahles "Jl 1.1, ihti-ks ''l 111, Norway i.ilibs Hi.ss, iheilts His:',; Swedish cables lid. 07, i hei ks JlJ.llli , guilder cables !S, (!,",, cliei h, '(S.tMl, nun Us .1 Pj. The premium en New Yerk exchange in Meiitieal today was neimal at ", per lent. The disiuniii mi Canadinn funds in New Yerk wns !l-l(i per i cut. The Central F.uiepean exchanges were li regular today us follews: Bulgaria, 7,t; Uumanla, .07 bid; Serbia, 1 LM ; Creeks, '100, C.i Iio-SIemiI.Ih, . , offend; .luge-SlitvIa, .,'!() ; Polish inaiks, .001,1.1; Fin marks, li. J i Austria, O01H; Hungary. .000.1. Yi:STi;itlAYiS '"LOSINd fJl,OTATPi-H Htrrllni; i'lams I.Iim (Jullilnm l nmnd . I I l'l s MS I r,:'i .is i.n i ii.iin in1, k pi 4 .vi ns.iis 'lOl-AY M Oi'lIM.NU (JClIATIIINH Ht . rl Itiir I mni ii Lire tlullilnrH . I in, s is1, i njn as nn s -iih s in i .-, i as uj ,OHINll QUOTATIONS iSturllUK I'r.iiH-M I In, Oulld'T" 4 H'l S 1,1 4 i',J as no , i iiK ti i.-iV4 i !., us (,j nemiind 'atU's liemaml I'aliles Pittsburgh Steel Prlcea New Yerk. An. 1 St. e prices f e 1, I'Utsburitli tier 100 iieundsi -lllun anneulrd shets. t2,40O,S0s galvaiTlzed aheala. M.lW.30t black sheets, a(OOS.80 stse bar.ll.TOl.ae. V PRIG MOVEMENT m IRREGULAR NEW YORK STOCK MARKET Onty Afternoon Repert in Philadelphia Quoting Full List Dlr. in I Today's Net note Ches. 66ft 1ft IB - ft 4BH- .ft 55ft- 1ft 12ft ft ft ft 1ft .. 72 - 1ft 53H ft 37ft .. 692 36ft- K 65 - ft 60 - IS 168 - 4 26ft ft 5ft- ft 13ft .. 71 lllft J4 42 ft .. 12ft- J4 95ft 34 ft 54 119 - 107ft 103 ft ft 6M ft 19- W 60ft- ft 97ft .. 38ft- H 80ft- H 40 I 122 - W 148 - 1 144ft- $ 16 - 14 90ft- H 30 1 1714 53 ft 14 44 1H 53ft rt 101ft- V 91ft H 110 - 1ft 32 ft - 82 2B ft 120 ft- 9i 57ft- Vi 63 ft - ft 28 ft 52 2 77 ft - H 114ft- ft 8ft- ft 110ft ft 25 ft ft 22 ft ii 110 52 ft V 135 W 7ft li 31ft .. 21ft- V 10ft .. 79 ft ft 59 ft - ft 93H ft 8 ft ft 140 ft- i 872 38ft .. 71ft M ID5 - 2 38 ft 59ft- 2ft 72 - ft 10ft- ft 17ft - ft 10 36 ft 57 1 9 21ft- ft 30 ft ft 46 ft 78 - ft 44 ft - ft 83 96 ft ft 22 30ft ft 77 - 1 97 ft 57-2 70 ft - ft 47 - 1 92 - ft 4ft- ft 16ft- ft 35 124 ft 2 10 - ft 76ft- ft 108ft ft 117 42 ft - ft 90 ft - 1ft 93ft 26 - ft 91ft ft 16ft ft 39 ft . . 48 ft 1ft 21 - ft 127 129ft- ft 30ft ft 135 - 2 75 ft 46ft ft, 82 - 1 ' 114ft- ft 17 ft - ft ; 26 - ft 19 ft e4 ft 94ft ft 51 1 110ft ft 12ft .. 21ft- ft 69ft- ft 107 - 1 77 - 1ft 102 ft 179ft- ft 13ft- ft 81ft 81 - ft 37ft- 1ft 30 17ft- 1ft 83ft- ft 40 ..i 30ftJfft 82-3 2 ft - ft ill; J i STOCK Htlrti Lew 65 18 48 K 55ft lift ft 1ft 72 53 H 37 ft 69 36ft 65 59 168 26 ft 5H 13H 71 110ft 41ft 12H 95ft 34 54 118ft 107ft 103 6H 19H 60 ft 97 ft 38 ft 80 39 ft 122 143 144ft 16 90 ft 29 H 17 ft 53 ft 43 54 ft 101ft 91 ft 109ft 2ft 31 V 82 27 ft 119 56 ft 63 ft 28 52 77 ft 114S 8ft 109H 23 ft 22 ft 110 52 ft 135 7ft 31ft 21ft 10 79 ft 59 H 93 8ft 140 87 38 ft 71ft 194 37 ft 58 ; 72 10ft 17 10 36 ft 56 9 21ft 29 ft 46 ft 77 ft 44 ft 83 96 ft 21ft 1 30 ft 77 97 ft 57 70 ft 47 92 4ft 16ft 35 122ft 10 76 ft 1 07 ft 116H 42ft 90 ft 93 ft 26 90 ft 16 ft 38ft 47 ft 21 126ft 129ft 30 135 75 46 ft 82 114i 17 ft 26 18ft 83 ft 94 ft 51 110ft l?ft 21ft 6dft 106 77 101ft 179ft 13 81ft 81 37 ft 30 17 ft 831, 40 30 ft 82 2!4 21ft 19ft 3ft 18 109 111ft 1ft 3ft 23 ft 24 ft 104ft 117 17 ft 69fc 17ft 54 71ft n ii ifift 45 ii 4 20 ft 06 4'j 43 ft 35 ft 9 ft 147 77 ft 87 ft 27 ft 1-5 176 ICfift 4ft 15 ft .. Adams Express.... 664 ., Advance Ilumely... 18 3 Advance Humely pf 48 H t Air Induction 55 & .. Ajax Rubber 12'j .. Alaska Geld Mines.. Vi . . Alaska Juneau O M 1 H 4 Allied Chcm A Dye 74 4 Allli-Chnlmers .... 54 Vi . . Am ArtIe Chem.... 37 ft 4 Am Hank Nete.... 69 . . Am Uesch Magneto 36 Vi 4 Am D Sh Fdy new.. 65 Ks .. Am Can 61ft 12 Am Car & Fdy 172 .. Am Cotten Oil.... 26 i .. Am Drug Syn 5H . . Am Hide h Leather 13 H Am Hide & Leath pf 71 ft 7 Am Ice 112 W . . Am Internat Cerp.. 42 H 1 Am La France Eng 12 W 7 Am La Fr Eng pf . . 95 lb .. Am L'nvtd 34 . . Am I.lnsce.l pf 54 6 Am iocemottve. . . . 120 7 Am Metali pf 10714 4 Am Iladlater 104 Jj . . Am Bafety Raier. . 6H . . Am Ship & Cem.... 19 i .. Am Smelt 61 H 7 Am Smelt 4 Reftn pf 97 V 3 Am Steel Foundries 38 ft .. Am Sugar Kef 814 . . Am Sumatra 0 3 Am Tel & Tel 122ft 12 Am Tobacco 149VS 12 Am Tobacco D.... 144 ft . . Am Waterworks ... 1 6 H 7 Am Woolen 9' V .. Am Writ Taper pf. 30 . . Am Zinc Ld & Smelt 17ft . . Anaconda Copper... 3 ft . . Ann Arber pf 44 4 Asse Dry Goods..... 56ft 6 Atch Tep & San Fe101 ft E Atch Tep 4SPpl 91 ft 7 Atlantic Coast UnetlOft . . AOantle Fruit 2ft .. Atl Clu'.f & W I 3 S 32 H 6 Atlas Powder pf.... 82 . . Austin Nichols 28 7 Baldwin Locemottval21 H . . Baltimore & Ohie.. 58 U 4 Baltl & Ohie pf.... 63ft .. Bnrnsdnle A 28 . . Bayuk Bres S2 G Beth Steel B 78 8 Beth Sted ST, pf..114ft .. Beeth Fisheries ... 9 8 Brooklyn Edisen. . .1 10ft .. Bklyn Rapid Transit 26 ft . . Bklyn It T ctfs of dt 224 8 likljn Fnlen Gas.. 110 .. Brown Shoe ,e 8 Burns Bres 13 .. Butte Cep & Zlne . 7ft .. Butte & Sup Cep... 3? .. Butterlck Ce 2' ft .. Cadde Cen O & R-- " 8 California Packing. 79ft .. Cal'femla 1'etrel . . 60 7 California Pet pf . . 9 H .. Cal Zinc & L!ad-',,,8,!? 10 Cnnad an Baclfle. ...14' ft 7 Case J I 1st pf... 87 . . Central Leather. . . . 3 9 ft .. Central Iather pf 71 Is 8 Central of N J.... 195 .. Cerro-de-Pance .... 38 Chandler Metera... 62H 4 Chesapeake Ohie 73 H .. Chicago & Alten... 0 .. Ch'cage & Alten pf 7n .. Chi & Alten s 15 10 .. Chi & K III (new).. 36 ft . . Chi E III (new) pf -7 .. Chicago &. Or West 9 .. Chi & Gr West Pf.. 21 Is .. Chi Mil & St P 30 U .. Chi Mil A St P pf.. fBi R Chi & Northwestern 79 : c-m li I & Pae Chi n I & Pae 6 pt 83 ft Chi U I & Pac 7 Pf 96 ft rh le Cenner 22 H . Chtne Copper 30ft 2 Clev Cln Chi & S I. 77 C Clev Cln C & 3 LP! 97ft . . Cluett-Peabody .... 58 ft 4 Ceca Cela 71 3 Cel & Southern SV . . felum Gas & E'ec. 93 ft . . Celum Graphopheno 4ft . . Cel C.rnphophene P 16 H . . Censul Cigar 35 8 Consel Gas 12j . Consel Textiles 10 ft . . Continental Can .. TI 4 Cern Pieducts liet .109 7 Tern Pred Ref pf. 117 V Cosden & Ce 43 V, .'. Crucihle Steel 93ft 7 Cruclbla SUel pf.... 93 . Cuban Am Sjgar.. 2j',z 7 C-jban Am Sugar pi 92 .. Cuba Cane Sugar . . 16 H . . Cuba Can Sugar pt 394 Davisen Chemical . 49 ft I;bters C Mln Ltd 21ft '9 lii.avvare & Hudsen127 r, Ik, Uick i Wtst . 130 2 Deme Mines . J?, ft s In Pent (i: I) '"e 136ft C T.astman Kodak new 75 i Klee S-erag.) B.U. 47 5 Knd'cott-Jehnson . . 83 7 r.riillcott-Jehnson pf114i .. F.rle . 18 .. lirle 1st pf fXjj .. i:n 2i Pf ...... 'aw 8 Fameuu Players L. . 84 J 8 Famous Players pf 9H 6 fed Min & Smelt P'5 10 Plaher Bedy 1'Oft ,. Flsk Rubber '2 Is Freepett Texas 22 '.', General Asphalt.... 70ft E General Asphalt Pf.'07 6 General Cigar 78ft 7 Gen Cigar d-b Pf" J25 8 General IVectrle. .. .179 ft .. General Moterj..... " 6 General Metera pf. BJ4 C Gen Meters deb 1 81 . Goedrich II F 37 ft .. (irat.l.v M n nf f" .. Gray U ImvIs ..... '8ft 7 Grat J.etthern pf.. 84 ft 4 Grt North Ore ctfs 40 ft . , fin ni- ' an fepper. 30'3 .. Gulf SMtiS St-el... E24 Hahirshnw i:U-ctrle. ft . Jleaile.. MfB 2,' Hudsen Moter Car 4iv . Hyilraullu Steel.... 9 1 Hupp Moteiear . . . 1 B ft 7 111 no, s Cintrul J09H (, III Cnt pf ' ....' '2 ft .. Inter dm Cerp 'Jj Int. r con Cerp Pt-- 3 2 internat Cem l.ng . 4 .. Hit Gerat N'ert'i wl. 24 E Int Harvister nuw. 104 ,ft 7 nt Harvest, r new pill ti Mi r M.irlne. 1" 21ft 19ft -Jft-18 -109 112ft 23 ft I- 24 ft I 104 ft 117 17ft I 63ft 17ft -55 ft 71ft ( 13 ft 32 ft -ft h 18ft 45 ft 4 26ft 58 46ft 43 ft 35 ft- 01i 147 1 77 ft 87 ft 27 ft 65 - 'c. Int Mcr Marine pf.. 71 ?i Jiitur Nickil , Inn rnntlenal Paper. C Inter Paper htpd. . , , invincible Oil Cerp. . . iron products. . . . ', , Island Oil Jewel Tea Jenes Bres Tea Kalians fe Gulf Kan City Southern, 4 Wan CHy Se' pf . Kajser Ce new .. Kelly-SpilnKtluM . Kelinecett Copper. . . Ki ymemi T Ai 11. . 7 Kri-ge H H Lackawanna Stee.1 . 18 6 ft 71 1 3 ft 32 ft V 18 ft 45 ft 4ft 2fift 58 47 45 ft 36 ft 10H 147 78 87 ft 28 ft 65 H 176 109ft 5 10 Laclede Gas of St I 2 3ft 12 7 Lin Rubber. Uddgh Valley Liggett & Myers. . Lima Ixometlve. , Lima rts Leuw a Inc 176 I I 108 ft -4ft-15ft 1 i13'Jri down, culls inunlly J'iKS.nOi no fat I w -irn lurnhs sold euny. hui t elu, tl2,,riU. I W Mturn fifiling units sirnnu tu I.U'hir Ufit lrj..Mi shuep mound Mte.idy, twu ilecku lliclit dry-l.d yearllnns U I l-ift lliirT.ilii. Auk 1 CATTI.K Hece'ptn I SOU hiu'l uirllnits uruiin, buirhers ui. it l alvis. reuelpls 750 Imad. Hlnw uii lower Mlrl-. LIVESTOCK QUOTATIONS (lilruin. Auir 1. KATTI.B Ilecelpts, Kjiiii mini Jlurliet " . Iisif utitrs uml tfUtc.li r shu stuck, sieudy tu strenif llaru tup matured fiie'TH uiet learlliacH tin i ' bulk I.' 'f ler, IS Mil 10.1.1 .uiiiern I.ui.k uml ii,ilitrs fitMi'Ji, viil 1 lives fiUr nluli r liUlk liulliKllU Jiu In 11'J.ltll 10 veal lul.im inustly 411 7.1w 1 ' J 5 luik i f c.ivvii uml lilfirn. Ii.luii7.i.i. tuiuiers und outturn IKKiN llliciillita. I'lwur, utliurs alrudy lurvily 3 . 1 f. Illi,.s llcieliils 21.000 tii-ml. Llvht 11 ml liulchrrs sternly te 6r lilnher T1111. 110 7.1 one Kind mrly bulk IS, 1 (Hi) In lis 111U.1l und pii' li.nn uriiil m sleiuly tu w.Hk.-r tlmn Monthly s iivciraftH plies sleiuly, mostly $!l Iti Wln.J.I, hnavy, in hlJifc tu an medium llu.20 M0.U5, lisht, tUl,5H10.70i llsht llichtn. J10,2Sileu.1i pntkln sews, smooth, tsw ,03, nncklnii sews, reuuli, J7,23WBi kllll'iK piss, h 73010.40. , aliKKP Uectlpts, 18,000 head, nest na- ilvlmtjs, steady te city butcher. Tep, la.Tej pacVsr buvln wsait ta 2Be lower at iiiixin, iiitii.;u, jiiraers 111 WWII 7S llfjlil yurkcrti Hnd ulim, Jl.U0V ll,73i reuahs is HtuKi.. si r.e." An Hlir.l-JP AND heuii Lambs 1U IS. I'ltlabursh. Ail. S00O head, lliyher. teayv vurkers, llsht !' B1IUKP AND leady. BKp. ,..717,000 ,..033,700 .1,670,700 Sales inV'l STOCK Hln 000 12 Lerlllard (Pierre). ,163ft 700 7 Leulavllle & Nash.. 134 3000 .. Mack Truck 58ft 100 7 Mack Truck 2d pf.. B1 200 C Mackay Ce 101 11103 .. Malllnsen Ce 39 100 7 Malllnsen Ce pf... 90 100 7 Manatl Sugar pf. .. 80ft 300 .. Manhattan Elev ctfa 46 200 4 Manhattan EI Supp 54 600 2 Manhat Shirt 38 ft 600 4 Marland Oil 39 H 400 2 Martin Parry 294 300 .. Math Alkali 48 ft 2200 .. Max Moter ClftM A 61 4800 .. Max Moter Class D 20T4 2500 g May Dept Stores... 122 200 ft Mclntyre new 16 ft 7500 12 Mexican Petroleum. 168 ft 1 700 .. Mex Seaboard 22 200 .. Mex Seaboard OH ct 19 H 200 2 Miami Copper 29 ft Lew 164ft 133 56J4 81 101 37 ft 90 eeft 46 53 ft 37 39 29 ft 47 ft 58 ft 19H 119 16ft 164 ft 20 ft 19 29 ft 12ft 33 lift 64 10 41 22 ft 56 ft 22 485 120 7"ui,zv .Middle States Cerp. 13 1900 Mldvale Steel 35ft Mln A Ht Leuis new lift 100 200 1200 500 1700 1700 6800 10 100 100 2200 300 100 500 300 9200 M St P 4 S St M.. 64 Me Kan A Tex w) 18 ft Me Kan & T (wl) pt 41ft Missouri Pacific.... 23ft Me paolfle pf 57ft Montgomery Ward.. 22ft Nash Moter 483 National Acme.. . 17 Nat Biscuit 151ft Nat En A Stamp... 57ft National Lead pf ..11 1 H Nat Cen & Cable.. 2ft Nev Cen Copper.... 16ft N O Tex & Mex.... 6Bft N Y Central 97ft 17 151ft 56 ft 111 2ft 16ft 66 ft 97 78 36 30 ft 28 16ft H2ft 69 ft 44 ft lift 77 ft 2i 18 ft 7ft 132ft lift 59 35 6ft 70 13 54 73 66 ft 7", 46 ft 7 86 ft 22ft 33 ft 38 ft 43ft 9ft 22 ft 7ft 42 40 64 ft 21 78 82 37 90 ft 120ft 50 ft 29 ft 108ft 16 ft 75 ft 52ft 52 ft 36 ft 56 ft 32 ft 72 9 28 46 ft 115ft 52 ft 15ft 29 ft 52 30 47 ft 3ft 4ft 7ft 12ft 80 107 12 9ft 36 ft 30 ft 9ft 47 91ft 25 ft 57 ft 18ft 105ft 181ft 117 117 51ft 44 42 ft 129ft 116 6ft 6 31 3 10 ft 4 47 ft 30 ft 24 ft 21ft 53 ft 77 13 52 ft 59 ft 20 ft 142ft 108 81 48 ft 147 13 ft 61ft 3ft 35 72 7ft 22 61 ft 70 ft 57 ft 100 40 ft 100 118ft C5 17 ft 48 ft 27 ft 61ft 10 ft 12ft 32 79 lift 20ft GO 105 ft 61ft 13ft 26 26 ft 16 ft 48 ft 8 8ft 42 ft 4J ,29ft 177 52 ft 0ft 200 -v Y C & St L 7814 200 2ft New Yerk Deck.... 36ft 12700 New Yerk N II A H 32 14 300 100 1500 1300 300 100 4003 1300 1300 300 100 300 100 100 700 100 200 7300 6300 1000 tee 9500 4600 700 100 3800 100 7000 1200 200 600 100 11800 200 100 100 100 New Yerk Ont ft W 26 ft Norfolk & Southern. 16ft Norfolk & Western. 115 North American.... 70ft North Amcr pf.... 44ft North American rte lift Northern Paclfie... 79ft Okla Pred & Ref... 3 Orpheum Circuit... 19ft Ont Silver Mining.. 7ft Otis Llevnter 132 ft Otis Steel lift Otis Steul pf 59 Owens Bet Mach. . . 35 Pacific Devcl Cerp.. 7 Pac Gas & Elec... 70 Pacific Mall 13 Pacific Oil 35 ft Pan Amer Petrel... 74ft Pan Amur B 68 Panhandle 7ft Pennsylvania n n.. 47ft Penn .Seaboard Steel 7ft Peeples Gas Chicago 87 Peoria & Eastern... 22ft Pere Marquette 34 ft Philadelphia Ce 38 ft Phillips Pet 45 Pierce-Arrew Moter. 10 Plcrce-Arrevv Met pf 22 ft Plerce Oil 7ft Plggly Wlcsly store 42 Pitts & W Va 41 ft Pitts Ceal 64 ft Pend Creek Ceal... 21 Pestum Cereal 78 35 5 lft 5 . Pressed Steel car. .. 82 . Producers & Ref.. 37ft 6 Pub Ser Cor of N J 91ft 8 Pullman Ce 121 . Punta Alegre Sugar 51 ft 2 Pure Oil 30 8 Railway Steel Spu. . 109 ft . Ray Cen Copper.... 16ft 4 Rending 76 ft 2 Reading 1st pf 52 ft 2 Reading 2d pf 52 ft . Remington Typew.. 37ft . Rem Typew 2d pf. 57 . Replegln Steel 32ft . Repub Iren & Steel 73 . Republic Meters.... 9ft . Reynolds Springs... 29' 3 Reynolds Teb B.... 46ft 7 Reynolds Teb pf...115ft 10 Royal Dutch N Y.. 53ft 1 Kt Josepli Lead 15 ft , . St Leuis San Fran. 30 ft . St Leuis S Fran pf. 53 . St IjuIs Southwest. 30 ft . St L Southwest Df . . 48ft . San Ccc Sugar 3ft 400 600 1400 903 1700 400 300 3200 100 200 1200 400 100 600 1300 200 1700 100 35006 100 1 2700 .. 603 .. 1200 .. 200 .. 400 .. 6500 . . 1200 .. 700 .. 930 .. 100 7 103 ,. 100 .. 20083ft 5000 2 4400 .. 200 .. 4800 6 2930 . . 1030 . . 300 .. Saxen Moter 4ft S aboard Air Line Seal, Air Line pf. Sears-Roebuck . . . Sears-Roebuck pf. Senica Copper... 7ft 12T'a 60 ft 107 12 Shnttuck Ariz Cerp 9ft Shell Transport 36ft Sinclair Consel. 3 1 ft Skelly Oil Ce Sless-ShUIIeld .... Southern Pacific... Southern Rail Southern Rail pf., S'plcur Mfg 9ft 47 ft 92 ft 25 ft 58 ft my 1800 200 300 50 200 200 400 43500 200 100 300 100 400 100 3200 700 2700 1200 500 2400 3200 Standard Oil of Call07 Standard Oil of N J181ft Stand Oil of N J pf 1 17 de Odd Lets 117 Sterling Products .. 51 ft Stewart Wnriur Spd 44 . . Stromberg Garb. .. 44 10 Studebakur . . . . 133ft 7 Studebnktr pf . . .116 . . Sub Beat Cerp. ... 6ft . . Superior Oil 6ft . . Superior Steel. . . 31 .. Sweets Ce of Amer 3ft Tenn Lep & Chem.. 10ft Texas Ce 46ft Texas Gulf & Sulph 48 ft Texas & Paclfie.... 31ft Texas & Pac C & u 25ft Third Ave 21 Ti Tobacco Products.. 54ft Tobacco Pred A.... 77ft Transcontinental Oil 14 ft Twin City R T 52 ft Union Bag & Paper 60 Union Oil 20 ft Union Paclfie 144ft Union Tank Car pf.108 United Drug 02 United I 'rug 1st Df 4811 4300 . . 300 2 200 6 603 .. 3700 10 100 7 2200 . . 100 3ft 400 8 United Fruit 147$-. 100 .. United Rwy Invest. 13ft H5203 .. United Retail Stores 61 Ti cr,is T..l. i,.... i, c. ...T umiiii V.U.V iivtuii oier ns J' '2 1100 USIII'4 l-'dy.. 333 5 U S CI P & F.ly pi 400 .. US Feed Products. 200 ..US Huffman Mach. 2900 .. C S Iml A.cohel , 900 . U S Kwilty & Imp.. 9100 . U S Rubber 36 72 7ft 22 ft 1ft ' ft I fc4ft .71ft . 59 i2 .106 ft . 40 ft 101ft 118ft . 65 ft . 1 . 50 Ti . 27 ft 62 ft ' I ' I ft ' ft ft i 300 8 U S Rubber 1st pf 100 ..UK hmelt & Ituf. 9100 E U S Steel 100 7 U H Steel pf 700 2 Ctali Copper . , . 100 . I tali Securities.. 6500 . Vanadium Cerp. . 300 .. Var-Car Chemical 603 . . Ylr Car Chum pf. 300 . Vlvndau Inc ft 2ft ft 1ft 1ft 1 1 2300 . Wabash 13ft 3800 Wabash pf A 33 ft 100 2n Wells Furge Kp... 79 400 . Western Maryland. 12ft 100 . W Marvlanil 2d pf. 20ft 603 6 WcHKrii Pnu.ile pf. CO ft 500 7 Western Union Tt!.106ft 2b30 4 West ng 11 & M , 62 ft 500 Win i ling U L IL. 14ft bOO .. Wheeling U L 11 pf 26 ft 100 2 Whltu Kaglu Oil . 2b ft 1703 .. Wlckwlm Spene Stl 16ft 500 4 Whltu Moter 48 ft 500 . Whltu Oil Cot p.. 8 EJ3 . Wlllja Oveiland ... aft 400 .. Wllls Ovutland pf 44ft 200 . . W.Ibeii Ac Ce . ... 43 100 Wisconsin Central.. 29ft 100 8 Woelwoith F W., .177 300 4 Weitli Pump ( M . 53 ft 100 I Wright Aeie 0M 1 Us-UlvliJeurl. CAl.Vh'H Itecelpts Ten III 3U. 100 head GRAIN Open . . 1 03 . . 1 07 MARKET HlKh 1 Oil'. l.dfS 1 12ft MlVl 01' V4 S3 a, 3UVi Wheat Hi plumber Decunlwr .May Cern Hepleinlicr li, Lumlier Oats Huiiember Dei enilivr Lnrd Hentamber 11100 lieurl JMbs, 2R0 Heavy, tin.i'rifr In ir, 01 r.7S I.A.MIIH Itecelnts. 120(1 30c hltther. I.ambs M a J 14 auft 1, 1 OOft Receipts, Heavies. SlOliTIO li.li yerksrs ana pigs, 111.00 .11,85 11.8.1 October ,,,,11.13 11,45 IiAMIlSKeclps. f 00 hsd, sT.fO. lainbs. Sll.Je. ' llius Bspterabsr . .... ".TI, J Today's tain Yesterday's salts ... Total for this week.. PRICE SHADING IN r THE LOCAL MARKET shares shares shares Te4afs Nst Clecs Chi. 165 ft 114 133 -56 ft 01 - 101 -37ft 90 eeft- 46 114 i ft ft t ft ft Pennsylvania In Active Demand. American Stores Ran Off en Profit-Taking 54 .. 37ft ' 39 29ft- H 47ft- .ft Pending the outcome of the confer ence of the railway executives the le 58ft- Z cal trading contingent apparently were Inclined te mark time and defer further commitments until eeme definite set tlement was reached en the strike ques tion. As n result of the suspension of bullish activities there was almost a general shading of prices. This was because of the narrowing of the sinr ket, as there wns no cvldince of any great amount of selling. The thlrtecn-pelnt advance In the two preceding sc.sIens Invited some profit-taking In American Stores. The stock reacted te 134, as compared with yesterday's high record, 138. Of ferings were relatively email nnd were readily absorbed. Each time the stock takes an upward spurt some new story Is Invented te explain the movement. The latest creation is that the manage ment has in contemplation a plan for splitting up the present stock and Is suing four shares for each share new outstanding a plan similar te that adopted by the Electric Storage Bat tery. This would again place the stock in the low-price group nnd mnkc It a mere active speculative preposition. At the same time It would avert criti cism which Is frequently heard when corporation shares reach such high fig ures. IVnnsylvrnln Railroad continued ac tive and nt the outset nearly recovered the ,10-cent dividend which was taken off today, selling nt 47n's, ns nsainst lnst night's closing quotation of 47 aj. Iiter in the dav reacted te 40V4. Cash pales at -17, established a new high quotation for the yenr. In fact, the highest reached since 1010, when the top price wns 48. In the ether local stocks price changes m 7., )ft- V )ft ife ift- w 19W- J 16 167 W 21ft- ft 19 - ft 29ft ft 13 35ft- 11ft- li 1 64 1 18 - H 41 22-56ft-22 - ft 483 17 151ft- H 56 ft - 111ft 2ft . 16ft . 66ft- 97 ft- 78ft 36 - 30 ft- 6 - 16ft- 112ft- 69 ft- 44 ft- 1 1 ft 78 ft- 2ft 19ft 7ft- 132ft- 11ft- 59 IK ft Vi ft 2ft 2 ft ft li 'ft ft 1ft ft 2 ft ft ft ft 1ft ft ft ft ft ft ft ft 1 ft ft ift "ft ft ft " ft ft ft ft ft ft 'ft ft ft 7 70 -13 - 54 -73 -66ft- 7ft 46ft- 7 -86 ft-22ft-33ft-38 ft 44ft 9ft 22ft ft 42 -40 ft -64 ft 21 78 82 -37 -80ft- 120ft-50ft-29 ft 100 ft 16 ft 75 ft 52 ft 52 ft 36 ft ft 72 -9 - 28 -46ft- 1l5ft 52 ft 15ft 29 ft- 53 30 -47 ft- 3ft-4ft-7ft- 12ft- 80ft 107 12 9ft 36 ft- 3 1 li -9ft 47 91ft - 25 ft- 57 ft- 18ft -r 105ft- 181ft- 117 - 117 51ft f 44 - 43 -f 129ft- "6.. 6 ft 6 . were Miinll. hut were mostly fractionally lower Philadelphia Klcctric .shaded under 30 nnd the preferred under 31. Union Traction dropped back te 39. Lake Superior reacted te 0'i. Ameri can Hallways wns nn exception, moving up another peg te 15, nn overnight gain of a point, n net ndvnnce of ever 3 point" within the last fortnight. Philadelphia Stocks Net Illith Lew Cle.e ehgs. 481 Am Rwys 1.1 1454 1.1 1 UK) Am Ktrs..l.'t(5 134-i 131 2, n.ltAm T&T.122', 121-n 122X, Will CC '. . ill "'.1 3!l.-)tCM&Stl 30i; 2(int de prcf.. 47'li lOntCh II I&P44 lOntrhd Mtrs 01 VJ 2."j"CeNlen Ce 43 104 Klee Ster 47'6 HltKrlc .... 17-ti 10 Gen Asph. 00 100 de pref.,107 i-l e -, f w 57 V Vi 57V1I 30 47-i 44Ti 01 ',& 43 W4, 171 filiaj 107 30", IK 47 Ts M7fc -74 01K 1 43 . . 40 Vi 17.. OOtji, ia, 107 ft ift ft ift ft us ft ft ft ft i i ft ft ft 5 Hestenvllle Pass Uy. 28 lOtlludMtrs. 21 1.1 In Ce X A 38 20tKnserCe 4.17s 2.10tKey T&K 10 V4 210 Lake Sup W 40 I.eh Xnv.. 7.11. 8.1tM Stn Oil 13 3.1'MinPhlll.. Til 10. Me Pae... 2314 70tPas-APet 71', lft.1.-PfnnaIU 47V, 00 de push.. 47s 75 Phlla Ce film pf.. 30V. S23 Phlla lc 30 " 40.1 de prcf.. 31 220 P It T... 30i(, 5 Pliilu Tfne 0(1 lOOtPieiei-Ar !Ts 100 Radie Cor 4Ms lOtR.vl Dutch .13 SOOtSlurlnlr. . 31 20tT'iis Ce. 40 lOOtTex&Pnc 31 ', dWi'en Pel.. IV, 12.1 Tn Tine. 301, 408 I'll I ,. r.2.j 120 de pref . .1.1 2S 21 38 4,1-'''s 1HH 0V4 7.1 1ST, 51 23 14 72 40 Vi 17', 28 21 38 4."iRi s 10K 14 UU,. 75 51 23', 47 Vi 30 Vi 20 'C, ,",0'. 30 " 00 0"s 4'- 53 31 40 31 V, l"s 30'.'. 30.. 30 . . .(OK, u, 30 14 1; 00 . . 0Ti 1; IK ft ft ift ft fi; 31 40 31 K 1. I ft ft ft ft r, ft ft ft ft ft 2ft 30 'i 52 5.1 52 51 a; U, .1 C Ces .V .1.200 .'no 200 lOtU S Steel. 101 Vi 101'ilOlVi.. 300 War I&H !) 0 0 .. ".ItWestlnglise i: A. M.. 02Ts 02K 02K "1 50 tW Pac pf OO's OOK 00K K "OOtWilhs-Ov ft pref.... 43 43 81 Yerkltypf 30 30 i:x dividend 43 30 - Vi 1 31 3 - i '0 ft 46 -48ft-30 ft 24 ft 21 Ja 53 ft 77 -13 ft 52 ft 60 tNet channa made by comparison with last sals en New Yerk mock nuchinue. Total sales, &72.1 shares, cemtared with 0041 Bhares yesterday. Thus far this week, 18,0l(l (,httrcn I'HIT.AIKT.riIIA BONUS ft ft 'ft 1ft ft ft ft 1000 Llbcrtv 2d 4'Jb '42.. 10000 Liberty 4th 4',s '.'18. 2000 Vieterv 4:i,h '23 .100.51 .101.20 .100.40 . S8 .ji 111 Amer tins & i.iee 0s.... 1000 Amer fins it I'Uv 5s... 5000 Interstate Railway 4s.. 100(1 I.nke Superior Inc 5s 1000 Lehigh Xuv (ien 4 'Ah. . 5000 Phlla F.leetrie 1st 5s"... 2200 Phlla F.lertrie 1st .Is 000 Pliilu Klectrlc 1st ,1s 7000 Phlla Kleetrie 5U.s WMM) Phlla i:iec-trli' 0s7 1.1000 Phlla Kleetrie (is J'4 ft ft 1 ft ft ft ft ft ft ft ft ft ft 2 1ft ft ft ft 1ft 1ft 1 ft ft ft ft ft S'i'A 48'. 37 0.1'. lOOVi" 1110K 100 in 1 y. JO.'l'. 103 108 81 48 ft f 147 - 13ft 4 UI ft . 3ft f 35 72 7ft- 22 - 61 ft - 70v? 57 ft - lOe - 40 ft 100ft- H8ft- 65 - 17 ft r 49 -27 ft I 61ft 10ft -12ft-32 - Total, terduy 11,1 rt-iu. i-iiiu.,ri'u uil (tfliOl) ye. 'IhUM fur Dili) wek. Jils.soe. MONEY-LENDING RATES NI'AV ItlllK ('all tin my uiiir. Hluli I per cent low I iuIiiik r.ite, 4 dusliiK bid 4; offered ut l' Hint Iim.i, i, A fulrly ifiinil ilemuiel w,1H reported tertu fnr cull mom y Iilill (tie until,,,!. i.r..u. .-. ., early te Indl ale a siiiiiewhiit llrrner cendl- IIOII in-'Kiu "i. .-.in .., in," 11, - On lime the murkit mm very quiet, at the follevvlm: fuotutien. Thirty dills, Iii ptr cent', blxty rtuis II), te 4 per nut ninety days. 1'ir rent, live months 1 in 41, ,,., tintl (!" months, 4 Mil und usUel riiit.Mir.i riu - cu. tu, ,r ,.,, tlme Vi te 4 li tn r if-ru. mmniirclul usper' thrte tu six months 4'. te H, p,.r cent IX)NION-Mnne 1 J, ver cent discount rates. h;.rt bills I 1 -In pir cent, three months' tillls I'd per icni BANK CLEARINGS Hank c.euniiicj today fninpsrci ivlth ior ier ior rcependliu.' iluv lust two jeim , "'- 13-'1 mae Bosten .."' "10 137 -ill (ill leu Hsir.lli N Yerk UII 10" 000 S'ls.-joe (Hid s.lii 3 I'hlln 74 nun nnd uj nun line .s 1)1,0 1 iV Chlcnae His sne nnii 112.8011,1,00 inn 4,11,701 NEW YORK COFFEE MARKET 79 lift ! 2 20 ft 60ft 4 106ft 62 ft 13ft 26 JH 26 ft 4-16ft-48 ft 4. 8 Uft 44 ft 43 -29ft-177 53 8ft- ft 14 Is ft ft ft les' t . ('In.,. !l as i II 21 ll 2li open llluli I.evv li '.'.I'll at) 0 2.1 0 2.1 ! l'l 271 HO (1 2s tl 2f. ti JUliai) (1 .)(! fj'y.-, ! ii sui'.'ia u'ae u no !II8'I tNunilnal Clufe Auk rept. 1 let "YiV. . Dec . Jhii Keli .Mutch Aurll . May Tunu . Julv .. Illd .'.' 2.1 21 1 1ft l'.2ll (I 2i II 2li 'l 211 II '.'II li '(II tl .'II 11 a 3 u 3,i 2.1 ;2(! 20 211 Jill I Steady. li'Kl ,111 J (J COTTON MARKET Lew 1 03 1.07 1.11 Clesu 1 08 LOSH 1 12U '3i (iSft 02 8SVi aeft I'rev f'ln.e 1 mm n Sept. 21 22 21 17 Oct 21 21 21 2.1 Dec. 21.1S 21 HI lllHh !. Clrme 2 17 !.' -II 2t in as se 21 11 SB L'l 27 21 17 22 (1,1 22 IHI .Mil,. 21 in air-' 2:1110 SI 00 s 10 ' .M'rch scan 20 11T 22 sn si, 1,7 auiiTn My SO HI 2(1 h3 22 25 20.:i SI Un(li rtfv rnir. UTUirrtJ. AUt. nnn... 83 83U The two' are becemlne 'very closely ra. ..a... I Imi uihat nftmn Via ..tl. ' "" Vi? J 1.83 1.8T - .M. lair luted. Just what effect trie continuance of the strlfte Is havlna en Industry In various seetlpna la taln observed liy the analytical nlrida et Bplllane. Hvami and rertwa, the, usinesa trio of ihe Vvuue ILaPuSS. . "ka It JUDIU" WW, 'taailk. The Denver & Rie Ge-aride Railroad Company Te the holders of The Denver & Rie Grande Railroad Company first and refunding 5 bends and Certificates of deposit of the Farmers Lean and Trust Company, as depositary, and of Bankers Trust Company as depositary representing; such bends. In January, 1922, the Western Pacific Railroad Company pro pre posed a plan for the reorganization of the Denver 8t Rie Grande Railroad which it had arranged with the se-called Hammend committee. The undersigned committee was formed after th publication of that plan and because we believed that plan unfair. We are an absolutely independent committee whose sole- Interest is te get as much as we can for the bondholders. We opposed the Western Pacific plan, first, because we. did net believe its terms were sufficiently favorable te the bondholders; !), because en analysis of the plan our. committee was convinced that the cash and asset9 te be provided by the Western Pacific were much less than $17,500,000, the figure mentioned In the Hammend committee advertisements; third, because it seemed perilous te the bondholders te place the control of the future of the Denver property in the hands of the Western Pacific with out greater safeguards than the plan afforded, and, fourth, be cause during the five years preceding the publication of their plan the Western Pacific Railroad Company acting under . judg ment recovered against the Denver Company had obtained from the Denver Company, without effective opposition from the Hammend committee, cash and assets of great value, some of which, we are advised by counsel, were net, as against the re funding bondholders, lawfully acquired. The Denver Company, at our request, has recently beea placed in the hands of a receiver, and all legal matters will hence forth be in the hands of the court, and it is new publicly an nounced that the Western Pacific plan has been abandoned because of our efforts. We believe that the abandonment of that plan is wholly advantageous te the bondholders and that the appointment of a receiver clears the way for a reorganization. Whether that reorganization shall be as an independent railroad or in connection with some connecting carrier is yet te be deter mined. In view of the change in conditions, this committee there fore announces that it has extended until and Inclining Septtfn ber 1, 1922, the time for the deposit of Denver & Rie Grande first and refunding bends under the deposit agreement under which the committee is acting. Dated July 31, 1922. j JAMES H. PERKINS, Chalrnan R. WALTER LEIGH A DEWEY, Secretary 22 Wllllem Street, New Yerk City. E. C. JAMESON CemmitUa Depesitary: THE FARMERS LOAN AND TRUST COMPANY 22 William Street, New Yerk City Sub-Depesitaries: The Merchants Lean and Trust Ce., Chicago, III. The National Dank of Commerce In St. Leuis, Ma. Hankers Trust Company, Dsnver, Cel. Hepe & Company, Amsterdam, Helland. The Farmers' Lean and Trust Company, Ltd., IS Cockspur St-tLenaW The National Copper Bank, Salt Lake City, Utah. . Investment Bends TO YIELD ABOUT 4 te 8 In a circular just issued by us we bring te the atten tion of investors mere than 125 issues of municipal, railroad, public utility, industrial and foreign govern ment bends. Many of the municipal and railroad issues are legal investments for savings bank and trustees. Copy of Circular gladly furnished en request Mnreml &Cn Bread and Sansom Sts., Philadelphia New Yerk Baltimore Pitdburtb Waioinjtea Members New Yerk. Philadelphia nnd l'lttsbumb. Stock ExOharurss JpfwflffiK far jHTjJ2sU cewyf '-T.Wil j m wuVh- JH "! -1 xsiMimim jap jgjp 1 ,.' A m- a FI a 'A i I I Bends Fer Investment BATTLES & CO. Established 1800 Independence Square (East), Philadelphia 1 Miwa 0?7ltfrfl'aetf Wishing North Philadelphia Trust Ce. irhiva VS? er,?ntewn Ave. - '" "" Yg rniiadelphla J. H. McCLEMENT JOHN G. LONSDALE, St Leuis WILLIS D. WOOD "1 .LJi- won't meke 1 1 9 1 wnmrnmrnmaS' tnsney. Act today ni l open a Huvings account with us for the pur pose of accumulating u work werk injc cnpltul. ','2i'.Hl".ly "f alfp Invi'MtmcntB Is inrt of our IniBlnesi. When i,'.','iir 1 IU'.COul.,t hnH Krown te n '""" f,,r u Htatt) we will help Mm ItivcHt It in Heme sound, ),.' 1 1.lil,vl"K "'furlty. Come In id talk the inutter ever with 'A,
Significant historical Pennsylvania newspapers