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EVENING PUBLIC LEDGER PHILADELPHIA, SATURDAY, AUGUST 26s 1922
g-yy wsm i , . i. i i
?L.1 - F
r CLOSNG MARKET
ft
VERY IRREGULAR
Persistent Advance In the Face
of Unsettling Developments
Tends te Promote Caution
New Yerk, Atift. 20. BullMi dem
onstration in special stocks, which sent
nearly n dozen Issued te new liljfh lev
J for the yenr. fentured tedny s rela
tively quiet stock market. I.iKKCtt ft
Myers wns pushed lip S1. points te a
new high, while American Tobacco,
Consolidated Gas. National Lead,
North American. Eastman Kodak, Con
tinental Can anil Mma Locomotive es
tablished peak prices at gains of 1 te
BV4 points. Hall shares were under
heavy pressure in the early dealings,
declines of 1 te 2 points taking place
In St. Taul common and preferred,
New Yerk, Chicago and St. Leuis,
Colerado and Southern, Illinois Cen
tral, Chicago and Northwestern, Jersey
Central, Lehigh Valley and Atlant c
Coast Lln. Subsequently the list made
a Reed recover in response te an ac
tive inquiry for Meuenn Petroleum.
United States Steel. Studebaker. Bald,
win and special stocks, which were sub
jected te peel operations
Railroad mortgages, especially the
speculative issues were inclined te
heaviness. Declines of l te "i took
place In Baltimore and Ohie , Sea
beard Air Line refunding 0. Western
Maryland 4.s Chesapeake and Ohie
convertible ."s. Norfolk and A estcrn
convertible (is and Eric convertible 4s,
Ecrics A. Beck Island, Ark and Louis
ville 4M.S moved up -V Public 1'till
ties were in geed demand. American
Telephone convertible lia moved up
point and moderate gains were made by
Beuthcrn Bell Telephone 5s and Ameri
can Telephone 0s. Little activity wes
noted In the industrial list. Liberty
issues held steady.
The thought uppermost in the mind
of these having market commitments
or contemplating making some at the
close of the wee kls hew much longer the
barometer of security values can con
tinue te climb in face of se many un
settling developments in both the do
mestic and foreign situation. Of course,
it is net an altogether new spectacle
of witnessing a niins tide of market
value with multiplying bad news and
developments. There is, of course, a
limitation te the stretching point and
for that reason an eUmcnt of caution
lias crept into the curient situation.
Ever since April tee hope of a favorable
solution of tircs'ins problem has been
the propelling force, which has stead
ily swept tne average price f the rep
resentative industrial and railroad
shares into new high levels. In quite
a number nf inMuncfs prices reached
were the highest touched In several
years.
While the market performance has
furnished a pleasing spectacle and dem
onstrated bejend all dispute the com
plete control of the force-, behind the
constructive movement, there has been
a singular absence of unison which
usually characterizes all the great mar
ket swings. On the centrarj, the move
ment hius been conspicuously special
ized in the constant -.election of a new
set of leaders. This has represented
an automatic shifting and rehifting of
concerted speculative energy among the
different groups, in which, in most cases,
peel manipulation was the dominant
Influence.
As a result there, is considerable di
versity of opinion among recognized au
thorities whether the persistent bidding
.nr markins up of stock price lepre
sents the discounting or anticipation of
widepread prosperity in general busi
ness and industry in the fail and win
ter or whether it represents an un
stable and artificial superstructure built
up in defiance tu the contest furred
upon capital by the oeumrv'-. labonln labenln
terests. If the nrst-nenud theory Is
correct the market obviously has start
ed en tne much -discussed secondary
stage of the bull market of 11122 ahead
of schedule, which may upet at le.i-t
part of a earefullv prepared set pie
grain. On th ether hand, if tup bull
movement lm e tin' interruption of the
major movement Inst April has n quick
sand foundation of artificiality, there is
n likelihood of .in attempt of wholesale
unloading when the geed ne of a full
settlement of the labor trouble becomes
public prepertj .
Other eb-crvers regard the current
market campaign as nn unmistakable
forerunner of a l erted of M-inmlnry In
flation influenced tv the nbnnrmel eny
money market .onditiens and the nat
ural adjustment nf the pest -war pe pe
ried. Either of the arguments is open
te question, but n. the tree lias net
been planted that ha ever quite reached
the sky the natural low of i-e!f. preser
vation would, under the circumstances,
at least seemingly invite hetli discre.
tien and discrimination. Ne one ever
lias gene broke in th market in taking
profit and that golden rule 0f the
speculative game from angls would
appear te be a pretty safe one te fol fel
low at the moment.
Commodity Markets
GRAIN MARKET
Chicago. Aug 2'! The wheat mar
ket opened steady at um-hanged te 't
cent advance -mil arl in the day
was quiet with narrow tmrc. changes.
An advance of -VI te ",d In the Liv
erpool market and a nli in foreign
exchange stimulated a little week-end
covering. I".' with Winnipeg when
selling at ,i ui-'"int under Chicago and
net sufficient eiert demand te absorb
the .hedging pressure, the trade leuld
fen "little n thr situation ,,, en,-eurage
aggressive operations en the btiving
side.
Cern started ' ; rent te -I, rent hizher
with wheat, but seen developed a re
actlnnarv tendency, owing te ,( mere
favorable view of the new crop pros
pects nn a. letint of the change in
weether conditien1.
Prevision. were lower en weak cables
but rallied en covering.
'T'n H.irh l.mv
NEW YORK STOCK MARKET
Only AfUrnoen Ripert in Philadelphia Quoting Full Litt
Today's sales, 301,000 shares.
Yesterday's sale, 1, 002.800 shores.
Total for this weelt, 4,420,300 shares.
etM
300
300
200
1200
8D3
200
100
tee
2700
310
tee
tee
250
tee
tee
1300
tee
100
203
000
930
1100
1550
5803
23200
2400
2700
1530
100
3430
300
930
100
200
500
300
100
400
4400
3200
200
600
100
300
303
230
700
100
300
500
430
230
430
tee
100
100
t700
100
1500
230
300
600
830
700
2530
530
500
100
1030
6330
5400
1800
2100
100
100
100
5100
tee
430
13 53
330
2230
100
233
233
17830
530
1630
230
2530
500
3430
103
853
103
530
1033
103
333
333
200
550
500
230
4330
10..0
23J
230
933
2330
533
2130
633
100
100
233
530
4500
300
100
900J
430
100
tee
233
1833
9)3
tee
10e
100
203
100
10n
303
830
330
230
100
200
2430
500
3733
103
1030
1 j)
1733
753
233
1103
1033
933
200
200
1100
3-K3
100
100
DIv.
In BTOCrt Hlrt
3 Advance Humely pf. 50
AJftit nubber 12
Alaska Geld Mines. H
Allied Chem & Dya 82
Allls.chalmer 5014
Am Beet Sugar.... 47H
Am rtesch Magneto 40
Am B Sh Kdy new 72
Am Can 61
Am Cotten Olt 27 yi
Am Cotten OH pf . . . 52 14
Am Dru Syn 64
Am lee ill
Am Intemat Cerp.. 2tV
1 Am Ln France Eng-. 1314
8 Am Locemotlve....1l9
7 Am Loce pf 119V,
3 Am Metals 44 14
.. Am Ship ft Cem.... 16
Am Smelt 64 14
Am Steel Foundries 42
.. Am Sugar Her 83
.. Am Sumatra Teb rts H
0 Am Tel & Tel 123
Am Tel A Tel rts.. 3
13 Am Tobacco 155
12 Am Tobacco B 154 '4
7 Am Woolen 93 H
.. Am Zinc Ld ft Smelt 18
.. Anaconda Copper... 55 H
Ann Arber pf 4gi2
6 Ateh Tep ft San Fe103M
.. Atlan Blr ft Atlantie 3 U
7 Atlnntle Coast Llnel17
.. Atlantic Fruit ctrv. ?!
.. Atl Gulf ft W I 3 S 30 U
.. Atlas Tack Cerp.... 17 W
.. Austin Nichols 30
7 Baldwin Locemotlve126
.. Baltimore ft Ohie... 584
.. Barnsdall Class A.. 32
5 Bath Steel B 7814
5 Beth Steel $ pf...113?i
8 Brooklyn Edisen. . .117
.. Bklyn Kapid Transit TDH
.. Bk.yn R T ctfs of db 21
8 Bklyn Union Gas... 1194
. Brit Em Steel 2d pf 34
10 Burns Bres 13514
.. Butte Cep ft Zinc. 7
.. Butte ft Sup Cep... 20 54
.. Butterlck Ce 22 !i
6 California Packing. 81 V2
.. California Petrel... 61 U
.. Cal Zinc ft Lead.... B S
2 Calumet ft Arizona. 62
10 Canadian Pacific. ..15!i
.. Case J I Plew 6 '4
.. Central Leather.... 41
.. Cen Leather pf.... 78
. . Central of N J 1 94
.. Cerre-de-Pasco .... 40
8 Chandler Meters... 60
4 Cheaapeake ft Ohie. 76
.. Chicago ft Alten... 9 '4
.. Chicago ft Alten pf. 16
.. Chicago ft E 111 4H;
.. Chi ft E 111 (new) of C2'j
.. Chi ft Gr West pf . . 21 '4
.. Chi Mil ft St P 34 's
.. Chi Mil ft St P pf.. 3
B Chi ft Northwestern 88 H
.. Chi R I ft Pac... 44
Chi R I ft Pac fi pf 66
7 Chi R I & Pac 7 pi 97
5 Chi St P M ft O 79'j
.. Chile Copper J3h
.. Chine Copper 31
.. Cluett-Peabody .... 63
H Coca-Cela 724
3 Cel ft Southern.... 48
.. Celum Gas ft Elec..1C2 4
.. Celum Graphophens 4
6 Cemput Tab Rec... 68 !4
.. Consel Cigar 38
8 Consolidated Gas... 140
.. Consel Textile 10
.. Continental Can.... 83 Vi
4 Cem Product Ref!17?4
24 Cosden & Ce 47 S
. Crex Carpets 25
.. Cruclbie Steel 65
7 Crucible Steel pf.... 95 U
.. Cuban Am Sugar.. J5!
7 Cuban Am Sugar pf 94
.. Cuba Cane. Sugar... 14
.. Cavuen Chemical.. 52 Vj
. . Debcers C Mln ita 21 'i
9 Delaware ft Hudsea129
6 Del Lack ft West... 132
8 Detroit Edisen 111
2 Deme Mines 3? '4
g Pu Pent (E I) Ce.. 133
6 Du Pent 6""e deb pi 85
6 Eastman Kodak new E6 '
Z Elec Storage Bat... 47
.. Elk Hern Ceal 21 H
6 Endicott-Jehnsen .. f5'fe
.. Erie 17
.. Erie 1st Pf 6'
.. Erie !d pf 19
8 Fameua Players L . 2 14
8 Famous Flayers pf 1 02
5 Fed Mm ft Smelt pf ?3
in Fisher Bedy 112H
.. Flsk Rubber 12'j
.. Free-pert Texas.... 231
. General Asphalt.... 67 r
5 O'neral Asphalt pf 101
7 Clen C.gar deb pf..102
General Meters.
14
6 Gen Meters deb 8 81 J4
7 Gen Meters deb 7 7e 53 4
. . Goedrich B F 35 '-a
. . Granby Mining ;2'4
. . Gray ft Davis 14'
7 Great Northern pf . . 3
4 Gr North Ore ctfs . 41 A
, . Greene Can Copper 32
. . Giuntaname Sugar. 17 V4
. . Gu.f States Stel ..
, . Hablrshaw Electric.
7 Hartman Cerp
, . Housten Oil
2 HudBen Moter Car.
. . Hydraulic Steel
7 Illinois central.
13?
2
E5
79
21 'i
9
110
111 Cent pf "A" 112J4
, , Ir.dlnhema Ref 3
, . Inspiration Cen uep 41
,. Inter Cen Cep 1 H
, . Inter Rapid 31
2 Inter Cem Eng .... 18
, . lnt Great North wi. J3
C lnt Harvester new. 110
, . lnt Mer Marine 14
6 lnt Mer Marine pf. ES
. . Inter Nickel 17
. . Internat.enal Paper 17
. . Inv.r.etble OH Cerp. 14 '
. . Iren Products 23
, . island Oil
. . Jewel Tea pf 65 '4
, . Jenes Bres Tea.... 45
. . Kansas & Gulf 5
. . Kasr ft Ce nw. . . 44 Vj
. . Kelly-Spr1rKf.?M . 43 ,
8 Kelly-Spg T 8 pf.100i
Lew
5714
11
81 V
58
474
40
72
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27
52 '4
6'4
111
3414
13'
11BV4
119
444
16
63 H
41 '4
82
122
214
151 '4
150
93 J4
18
54
49
102
314
116
2!H
30
17'4
30 '4
124
57
31 r4
78
113
115'
25
21
118'4
54 1-,
134
6
3014
21 '
814
C1 U
e
62
145
614
41 !4
77 H
193
40
60 4
76
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444
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97
79 4
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63
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48
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68 4
38
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117 4
25 1;
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21 '4
129
131
111
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133
84 W
6311
47 14
ai
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76
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91
1 00 !
53
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12's,
22
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100 4
102
13
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324
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41 14
32
1214
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109
112 4
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31
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100 3.
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55
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32
65
4514
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43
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TeiWyi Nt DlT.
CIem Chi. P1. m 1
57 4- H4 3100 .,
1 1 - 14 500 . .
- '4 100 7
T2 114 830
J8 4 14 200 7
47 3i 100 .
40 - 1 1200 U
72 - ' 100 y
6014 ., 6500 ?
27 H 600
52'4- 1 1000 "
64 100 '-
111 , 100 '
34 Vi ' tee i
13Vs 3000
119 803 ;
119- 1 100
44 4 . 203 ,;
16 ' 10C0 12
(i - M I 7030 g
42 I 430
C2- V 203 S
14- Jj 700i. SO
123 14 500 ..
1i5 3 , 2030 ..
154 4'4 I 500 ,
53 4 - '4 , 1200 ,.'
18 1300 ..
514 - I '033 ..
49 - 1 I 1100 ..
1C314 '4 3633 ,
314 V '03 3
117 - 5 , 100
214 ' 1200 0
30 330 .
174-4 1 10) e
3014 2103 j
126 - '4 300 5
53 - 4 603 ..
31 '4 - '4 103 2
78 - 14 tee 7
113- 14' 9333 6
117 1 1 203 8
25 - 14 ! 2100 .
21 - 4 1 4030 6
119 1 H 100 ,.
34 tn - 100 ..
13514 1 1030 ..
7 4200 .
30 -i- 100 ..
214 S 100 ..
814- 4 I 333 2
61 '4- 14 I 230 ..
T '4 '733 6
62 t, 4333 8
14514 63a 6
64 . 200 ..
193 - 2 I 4'03 ..
40 I ,35 6
CO 4- '4' 10J3
76 1035 3
P4 4 853 2
15- 200 ..
4114 -r 200 ..
fc2 4 - "4 ' 200 2
21- 4 350 ..
34 4 - 200 1
12 ' 1300 5
88- , 1053 ..
44 . , 833 6
f6 - "4 2103 g
97 1U ' 4 53 ..
7941 1830 2
"'3 4 4 103 S
31 ' 233 ,.
63 f 1 . 1435 4
72 4- '4 453 ..
48 - 1 14 203 ..
K2t4 - 14 105 ..
4-4 333 ..
68 4- 100 ..
38- 4 3530 1
1387 1 100 7
10 . 1030 4.13
83 4 24 203 ..
117 '4 4 350 ..
47- 4 653 ..
25'4- I 14 I'00
13 '4- 1 200 .
95 4 - 14 103 1
:514- 4, 233 ..
54 -f 4 630 . .
13 TB .. 950 ..
2 4 4 103 ..
4114 .. I 100 ..
129 - 4 233j 2
132 10 50 ..
111- 14 100 ..
?74 32JJ 6
138 - 1653 ..
e4U- , 553 ..
16 - 4 230 ..
4714 - 4 ' 100 8
21 4 -r 1930 4
5 4 - 4 230 6
17- t 2.0 7
26 4- 4 100 3
1 9 - 4 2 10 3
92 ' 450 ..
102 14 glJO 10
53 433 ..
M2'4 - J4 2J3 ..
" : 105 ..
3 I 5533 3
67 j 333 ..
101 I n7 1
102 , 25)5 0
14 , 100 7
6"4 4 3'00
93 4 - 4 203 . .
35 T 14 105 ..
324 - 4 12D0
14- 14 333 C
3 - , 105 ..
414- 230 ..
32 - 4 I 65J 10
1214 303 ..
63 4 630 ..
2 .. ! 350 ..
65 - 4 ' 4100 ..
79 - ' 120-3 ..
21 4 4- 14 100 6
9- 4 430 ..
09 - 1 ' 2030 ..
1 1 2 4 - 4 I 230 . .
3 -4- 4 I 1100 ..
41 - 4 1 100 k
14 1055J t,
31 1 2233 2
:7 f 4 430 ..
T3 - 14 2333 ..
110 - 4 233 ..
14- 633 ..
E8 - 1 1033 ..
17- 4 130 7
17 -1- 4 3933 ..
M 253 ..
33 J4 t- l, 100 6
'. .. 83'J 7
05 - 1 4 R30 4
45 I'J ..
5 4- 4 205 ..
44-4 150 ..
43 -t- 14 300 ..
100 4 50 J
RTCVTT ntch
Kenneeett Pnnif. . 3714
Keystone t n. . . . flt4
Krejffe S 8 166
Lackawnnna Steel.. 80 4
Laclede Gas- of St L 93 4
Lnkcv Krln JF. Vt. H 10
Lehlch Vnllev 68
Wtfsett ft Myera....200
Lima LocemotlTe... 62
flew's Ine 18H
Loese- Wiles 54J4
Looses Wiles 1st pf..103
Mnck Truck 55 i
vinekay Ce pf 6714
iniilnsen Ce vyt
Marlncrf net AT.
Math Aiknti "".... 4(1
Stclntyre new 1 9 '4
Mexican Petroleum. 183
"ex scnbennl 'u
MeT Renhrmrrl nil lfiW
Miami Copper 30 4
Middle Slates Cerp. 13H
juiuvaie Steel S5V4
Jt St P ft S st M.. 7014
Me Kan ft Tex (wi 1914
me Kan ft T (wl) pf 46
Missouri Pneine J3W
Me Pae pf 60
MontRemery Ward. 24
Moen Meters 13
. Mnthc.1- T nA Vflnlne 11
Mentana Power.... 73
Nnt En ft Stamp... 594
National Lend 1084
Nev Cen Copper.... 1714
iN' O Tex ft Mcx 71
N Y Central 9014
N Y C ft St L e6
New Yerk N H ft H 32
New Vnrtr Cnt W 7 14
Norfolk ft Western. 117 4
North American.... 89
North Amer pf 46
North American rts. 22
erth Pacific 88
Neva Scntl.i SAC. S64
Nunally Ce 11
Ok'.n Pred A Ilcf... 2?4
Orpheum Circuit.... 22
utis steel 11
Otis Steel nf 54 4
Owens Bet Mach... 25 4
Pacific Devel Cerp.. 4 4
Pac Gaa ft Elcc 79 4
Pacific Oil 57
Pnn Amer Petrel... 79 4
Tanhandle 7
Pnrrlsh ft Blnshnm 15
Pennsylvania R H. . 46
Penn Seaboard Steel 8
Peonies Gas Chlrjina 2
Pere Marquette 39
Phlladelnhla Ce 441,1
rhllllps Pet 48
Plerce-Arrew Moter. 12
Pierce Oil pf 43
Plcelv WIbcIv Store 42 14
Pitts ft W Va 39
Pend Creek Ceal... 22
Petum Cereal 88 4
TDprtrt Mnnefl A. Tn AA 1
Pub Ser rer of NJ 96
l'jiiman t,e lb's
Punta Aleere Sugar 49J-4
Vllrn en ?i
nallway Steel Spc..1124
Ray Cen Copper.... 16 4
Reading 78 4
Remlncten Tvdew.. 37 '-i
Keplojrle Steel ... C3
Itepuh Iren ft Steel. 73 4
Rep Iren ft Steel pf 94
Reynolds Sprincs.. 29
Revneld? Teh B. . . 5314
RonehN Teb pf....116
Royal Dutch N Y.. 54 4
St Leuis San Fran., cl
St Leuis S Fran pf. 4
St Leuis Southwest. T4!4
St L Southwest pf . . 10 4
Savnse Arms 10
St Jeseph Lead 15 4
Seaboard Air Line.. 7
Seab Air Line pf... 124
Sears-Roebuck 89 Tb
Seneca t-eppar 1 1
Shrutuck Ariz Cerp. 0
Sinclair Consel 22 4
Skelly Oil Ce 10 4
Ple-cs. Sheffield pf... 79
Southern Pacific... 94
Southern Rail 27
Southern Rail pf.... 62
Sp'eer MfC 20
Standard Mill 124
Standard Oil of Cat. 109
Standard Oil of N J1E3
Stand OH of N J pf. 11614
Sterling Products... 53
5tw.irt Warner Sed 46 "a
Stremberc Carb 15
St.idebaker 129V,
Sub Bciat Cerp C
CiinAt-lrir Oil fiti
Ttnn Cep & Chem.. 10
Texas Ce 4P
Texas ft Pacific... ;2
Texas ft Pac C ft O 75 .i
Tobacco Products... c6
Tobarce Pred pf . . 105 4
Tobacco Pred A.... f 5 14
Tel St L ft W 62
Tel St L ft W pf... 54
Transcontinental Oil 1414
Union utk a i-aper. u
Vnlen Oil 19
Union oil rs 4
Unlnn Pac.Ic 1E0 4
United Drup 0
I'nited 11" v Invesi. . 154
Unit Rwv Invest of 22
United Retail Stores 75
ir iieiPi ir,i v r. 1;
U S C I P ft Fdy pf 75 4
U s reed I'reaucta u
V S Ind Alcohol.... 6
TT S Rraltv ft Imn.. 73 '4
U S Rubber 57 4
U S Rubber 1st pf..104
U S Steel 105
Utah Cenner 0?i
Utah Secur.tlrs .... 10 4
Vanadium Cerp 2 4
Vivadou lnc 11
Wabaih 13 K
Wabash pf A 34 4
Western Elec pf...108
Western Maryland.. 14 4
Wetem r-idflc .04
WeHt-rn P.icltlc pf. C2
Western Un.un Tel . 1 1 7
Wrstlnu i: i: M. . . C3
W Il'Icwt.1 ffne-nr- Stl 1 r, I :
Willys uvirjand.. .. 6
Wilsen te Ce 43
Wlscens'n Central.. 314
Werth Pump ft M.. 43
Lew
36M
0
166
7914
S214
72
67 4
200
61
18
50
103
55
67 4
38
414
48
19
181 T4
19
1614
30
134
35
7014
1914
46
23 4
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73
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67 4
85 4
31
27 4
117 4
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26 4
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25
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784
56 4
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7
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88
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78 4
37 4
22 4
73 4
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116
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154
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Clese Chr.
37 4 14
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GO 14 !
E34 14
72 - 1
68 W
200 5
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1914- 74
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4414 f "4
48 14
12
43 - 4
42 - 4
39- K
21 4 14
884
44
96
125
4914
52
112 4
16 4
78 4
37 4
53
73 4
94
29
53
116
44
31
54
54
0 4
10 -15
4-74-124
89-11-
8
-79
Hi
26 -62
20 -i-124
108 4 -183
-1164
53
46 -5
12914
6 -64
10 -
48
32
25 4
-
cnyA
62
4
144
70
19
-
- 14
-
-
14
-
- 4
14
- 1'4
U. G. I. REACHED THE
YEACT PRICE
Many Interesting Dividend Ac
tions Are Anticipated in
Next Six Months
14
14
'4
14
' 4
4
1
14
114
114
' 4
4
- '4
''4
24
t 14
- 7
1494- 4
0
1 5 4 -
32-
75-4
36 4
754 ..
74 .
6 4 114
7314- 4
57 4 4. 7t
104 4- 14
lt-5 1
68 4 t 4
18
2 - 14
11 4
'3 4
54 4
103
14 4 ..
20J4
62 - 4
1164 r
L3- n
154- 4
64 .
43 4
31 Vz
43 ..
The fairly nctlve demand for TT.
0. I., carrying that specialty te 5i
n new IiIrIi record of the yenr. sup
plied about the only feature of Interest
te the limited trading In the local
market. During the first part of the
session the general list showed a dis
position te sag, which vvaa the result
entirely of the narrowness of the mar
ket and moderate taking of profits.
Pennuvlrnnln Itnllrnnct iniirlp, an early
dip te -KIVs. which, while representing
only a fractional overnight less, was
n decline of 1 from the top price
of the week. The Philadelphia fclec
trie and Issues and I'. It. T. were dull
and steadv, while Union Traction made
a small fractional gain, ndvancing
ia 41- . , ..
Unless surface signs are misleading.
there is n probability of a number of
interesting dividend changes being made
bv Philadelphia corporations within the
next six month". Prospects pf n big
fall and winter business boom, which Is
generally anticipated te fellow the set
tlement of existing labor disputes, tend
te strengthen the hope of their fulfill
ment. The rough reads, which nil
cliisse of corporate enterprise were
compelled te travel in the pest-war
period, have long been left in the rear.
Paring the last eight mentl's. there
lias been n steady and encouraging up
building, both In financial nnd physi
cal conditions, which is rapidly bring
ing the earning power te a normal posi
tion With elTielnl nssurance, they would
de se nt the earliest possible moment,
the I'ennsylvnnia llnilread manage
ment Is expected te restore the long leng
estubllshed 0 per cent dividend rate
en thnt stock befete the snow covers
the ground, new since the soft coal
mining troubles are a matter of his
tory. While official confirmation is
lacking, many reasons nnd signs nrc
present, indicating n larger distribu
tion later thi. year or early next yenr
for the U. (5. I. shareholders. The
little stock-ticker says, and It seldom
makes u mistake, the Electric Kteraije
Mattery directors will raise the divi
dend en that stock te SI n share. It
does net .sound as big ns Sit! en the
old stock, but it means the snme thing
and will leave the company unmolested
from legislative investigations nnd ether
unpleasant eritlclem. Plans, It Is snld,
en geed authority, are being success
fully worked out for payment of ac
cumulated dividends en American Rail
ways preferred stock.
Seme special distribution is confi
dently expected by the I.ehigh Naviga
tion shareholders when the suspension
of mining in the nnthrncltp fields Is
lifted. Leeks like nn unbreakable dead
lock new, but It Is always the dark
est before dawn, firc.it disappointment
will be felt If Lehigh Valley docs net
j go e-.iei; en tne old lu per rent rate.
A juicy melon is coming te the Rend-
Ing stockholders when they get the seg.
regatlen tangle unscrambled. If busl
; nes-c keeps en growing en the same
i scale. 8 per cent will net he the best
! the Philadelphia Electric holders will
get.
, Se. ns 1020 nnd 1021 will go down
in history ns years of suspension or
reduction of dividends. 102.". will be
I recorded ns the dividend-making year.
I That Is why there has been a com
I prehensive steadying broadening nf in-
terest in nil the local shares nnd the
i market has demonstrated forcibly It
uns- net se dead ns many unresponsive
I critics would have us believe only n few
i months nge.
I FOREIGN EXCHANGE
New Yerk, Aug. 20 The week in
(the foreign exchange maiket ended ns
sensationally ns- en nny day re-eiitlv
and. In fuct, the widest fluctuntlnis nn"
; any day were established in t'r.nn's
j There was a difference, however, in that
, tin' market showed some re.stance te
the pressure nnd, nfter n slump of 12
points, half the less wns qulcklv re-
covered. The market did net represent
;nnvthmu' but speculative plunging
, IV the first timi', of Inte. sterling
, wns nITect oil by weakness in the rest of
the market and sustnineil nn extreme
less of u point te the lowest Wei in t,.v.
era weeks ptiht. Italian nnd IJelsinn
I exchanges iigalu bore the brunt nf epe".
! '' cm"-.-, nut nise mncii' recover
ies fiuni llie extreme low figures
Late quotations ueie: Sterling ca
bes 4 Ifli... .iMnnml 4.40H: f.nnc ca-
IT -Se' cl!Pck,s 7-4,i 1,p,KIa --
4..10. checks J.'JOVi: Swiss cable,. 111.07,
checks 10.01: iicsetf. c-nMe irr-r'
Danish cable-' 21.00
Nerwny cables l".2.'j'
Swedish cables 20.70
check 1 .11); marks llnctuatec fmm 051.
e.irlv t .0STs, afterward leMnB' the
." The premium en New Yerk funds in
Mentrenl tedny was unchanged a.;j.i
per cent. The. discount en Canadian
funds in .Npw Wk was .'!.,12 per (.nt
The feature of the Central European
exchanges was a new high record in
f zeche-Mnvaklun at .'.Ml. Tlie rest of
this market was Irregular.
Quotations were;
Hulgaiinn. .OTi. Rumanian, 70
Serbian, 1.10; Ureeks, ,'t r ; .ruce-Slii.
via. .211: Polish. 00120; Finiiish ' '0
Austrian. 001.1; Ilungnnan, .00 '
TESTHltKArS c-I.O.sINi; Qt'OTATIONS
COMPLETE NEW YORK BOND TRANSACTIONS J
LIBERTY BONDS AND VICXORV NOTES
itith
102. (SO
101,04
101. lift
iei. ae
ion. se
100.54
102.00
101,7s
101. te
101 00
100.80
lot.eo
loe.sa
let. sa
101.AU
tne.ns
100.00
rtstiie Sines Dtt of tus
unit
June S, '21
July 11, 'St
.. Ut
-My S3
Aur.
July
July
July
Julv
July
July
Julv
July
July
July
July
July
July
Mv
Apr.
1
1, '23
38, 3'J
an, '23
24, '22
2, '22
14. '22
20, '22
24, '22
24, '22
23, '22
20, '22
2.1. '22
27. '22
20. '23
20, '22
li -
tjnvf
80.00
80.14
S3. 00
83.S0
81.40
81. 8(1
00.00
84.00
84.00
81.40
83.80
88.80
82.44
82.44
83.00
04.70
04,03
Range, '22
High I9W.
l.jn v.b
May ID. '30
May 10. '20
May 30, '30
May 31, '20
Juna 4, '20
May 21, '20
July 30, '20
May 80, '20
Dec. 28, '20
Pc. 20. '20
May IP, '30
May 20, '20
Mar 20, '20
May 20. '20
May 21, '20
10
101,04
101.A8
101.80
100.80
100.84
102.00
101.T8
101,40
lOt. 00
100.80
101.00
loe. sa
lOt.Srt
101,82
ioe.os
lOO.tO
04.82
98.70
07.80
08.60
08.80
1)8.00
08 00
0S.8H
04. OS
08.88
98.T4
94.72
98.80
08.70
100.02
90.84
Liberty
T.lberty
Mbrty
Liberty
Liberty
Liberty
Liberty
Liberty
L'berty
Llbarty
Liberty
Liberty
Liberty
Liberty
Liberty
Victory
Victory
latu
lllia, 1032-47
Ilvii, reglatered .......
let cv 4, 1B8247
lnt ev 4. registered ...
24 4S. 1027.42
2d 4i, registered
let 2d cv 4Ua. 1032-47
lit cv 4'ia. 1032-47 ..
1st cv 4'4a, regjatered
2d cv 4V1, 1027-42 ...
2d cv.i'ia, registered .
8d 4U. 1028
3d 4 Us. reglatered ....
4th 4 He, 1083-38 ......
4th 4Ws. reslatered ...
4-ili. 1022-23
4, reglatered
!oe:SS -ei
.... , , ,, tt
lo'e'.ii lebl'ji leblii ,n
Illlth
100.74
100.80
Lew
100.06
100.50
lob'.se 100.70
100,-ji
100.10
100.40
loe.aa
100.74
loe'.oa
100.52
100.20
100.14
100.38
100.21
100,84
lfKl',88
100.82
100.70
100.24
100.10
H'0.44
100.80
100.74
100.80
100.82
.04
.08
t:eJ
.04
Arge Rep'c Ba
3 85
Arge Rep'c 7a
1.... 1014
1.... 102
1 .. 101H
1.... 101H
Chlne Oeve't
ILK nty 5a
2 84
City Berne 8
1.... 112i
City Llerd'x fla
r. 80H
5 804
1 80
City cf Copen.
hagan BH
1 03
1 P3
5 t3
City Lyona 6i
4 80S
1 .... 80H
2 80V4
City Mars'a 0s
8 80
2 .... 801,
5 804
Cty of Monte
video 7a
1 B3H
Ctv Pole Ale-
gre. 8a
1 ..100
Cty rtle de Ja-
nerle et 8a
3 0OU
8 ..100
Cty Pae Paule
8a wl
1 0914
4.. . 1004
City of Sola Sela Sola
aena fla
1 7S-i
2.. .. 78W
0 78
City Zurich 6s
2 .. 114
KXaale) 114
1.... 114T4
1 115
C)!echo-31evak
Itep'e Stf'w!
2 P4H
a. .. 04
2 P44"
1.. 04 '4
Denmark Cen
ct A 8a
3 .. 110
Dpt pelnct 7
87 S
FOBKIO.V DOND8
(SALES IN J1000
10 .
1..
1
5
4
2
3..
3
87 S
67 ,
87 U
87 i
87!
87
87
D Canada '20
. 3 ... 102;
2 ... 102i
10(i.alc) 102H
5 ... 102lc
1 102,
D Cjnada '31
2. .. 100
0 ...
1 ..
1 ...
1
D Can
3...
4....
8
2 ...
100
loer;
1O0U
r.s wi
00 H
. . 00',
.. nn'4
. . 00'4
. . 0014
. . dO-4
E Ind' 1
47
.. 954
. . psi;
. . e;
. 05 ,
Dutch 1" Ind'i
rcta '02
3 OS
3.
18.,
10.,
te.,
1.,
1.,
Ceva't
051
05VI
05
5
05 V4
05
French
n 7Ha eta
10 P74
1 07 14
0 07W
5 07H
fi(sale) 07H
1...
5....
2....
1....
10....
4....
20....
r.....
2....
1....
4....
12....
14....
Oeve't
0....
13...
1...
4...
8...
20...
3...
8...
6...
P7V4
oe,
07 H
0TU
07 M
07 H
07 Vi
07 Vt
074
07H
07 H
07 U
074
R 8
100 H
100H
1004
100V4
1004
100 4
1004
1004
1004
1004
Jap Oive't lt
0 P4H
1 044
Jap Geven't 4a
0 80
8 70
K Belgium Its
1 100
K Belg-m 74 '
1.. . 1004
1.... 104 4
1. .. 1044
1C Belgium as
14... 103
0aale) 103
1.... 103
1.... 103
1 1034
2 . . 103VI
Kingdom Den
mark t)a l
2.... 00
2.. .. tiflS
2 . . 004
1. . 004
Klntrdem Den-i ja.
mark ct 81
lS(aale) 744
1 744
1 75
Prague ct 74 a
4 83
5 83
Queensland 0s
1.... 102
7(aale) 102
1..,. 102H
Queensland 7a
1.... 1114
1.... 1114
1.... 1114
Republic Boli Beli
via 8s wl
1 .. . 07i
8 07
1.. .. 074
8.. -. 074
Rep Chile '2fl
1.... 1024
Rep Chile '41
1.... 103H
1 ... 103i
8 . . 103S
3.... 1634
10(salf) 103 4
Rep Chile '40
5.... 10
9 . 103
10(sale1 103 1
Rep'e of Uru
guay 81
2 .. 1,
Stale Rie Ci'e
Du Sel 8s
8 t,t,li
1 .... l
lO(sale) 004
Swlti'd Cen 8i
10 ... 13
4 . . 1204
10sale)120 4
1.... 1201
2.... 1204
U K Ort Brit
A I'd 1022
1 ..108
1.... 100
7sa!e) 100
B(flat) 100
7..
1 .
23..
1..
2.
5 .
10
1004
1004
1034
1084
1084
108
1094
4 llOTi
2 ... Ill
2 . no;
lO(sale) 110
1. .. 1104
8 ... 1104
K of Nether
lands 0s
U K Ort Brit
& I'd 1020
2 ... 100
100
100
1 100
lU K Ort Urlt
I jr. 'A 1P3T
.... 1044
074
074
974
074
074
07 H
074
074
8..
6..
B..
8 .
1..
1..
2..
8..
Erie Oenl Lien
2 B7
2 87
4 .... 07
3 B7!i
Erie R R cv A
2 54
10 644
Erie R R cv V
80..
10..
10 .
15..
2 .
2 .
2..
1..
544
54
544
54
544
54
541
04K
Erie R R cv D
3 .... 88
3 584
8 50
Erie RR Ce 4s
80S
084
084
80
00
2.
1...
1...
10..
08
074
OS
08
074
Ner-
12 .
Dutch
rets
0. . .
0 ..
1...
1. .
Kingdom
way ct 89
12 ... 112
G(anle) 112
3 .. 113
lOtsale) 113
K Scden fla
5 . . 104'
1.... 10441
rnrla-Lyena Ml
Oi wl
8
7
17
3
14
1;
7(al)
1 Mat)
3 ...
13
1
75
75
75
75
75
74
74V,
74T
74
71'.
744
2 1044
1. .. 105
1.. . 1044
2.... 10.1
1. . 1044
U S Bra 7 wl
2... . 014
1 014
3 01
1 014
2 .. . 01
2 ... 014
Vn't B Brazil
74 a rcta
1 874
L' B Braill 8s
2.... 1014
1 1 ... 1014
B 1014
1. .. 1014
3 ... 1014
U S Mexico la
10.. . 134
1.
0.
10,
5.
1 R
10.
434
. . I3i
.. . 43',
. 43
Mexic" .".i
. ... 57
DOMESTIC BONDS
Am'n Agr'c & tlre.vd'y & 7th Chicago Mil 4
unem os Ave en
8 85 , 2 ..78
Am'n Agr'c A.rtroeklvn Edl
Chem 74 a rnn p 7
1- 1"S 2 . 17Ti
1 lrt 1. . 10S
Anierlc'n Pmlt nkn nap T 7,
& Refg 5 1 . 84N
3 014 n nap T c. 7l
1 05 3 m
American Sug 7 ... 84
It'f'E 0a 1 in.. Ki
2 ... 103. Brooklyn t! Bir
2 JUJ j lat sta'd
Cm -r JL 'I r!t a:
" " ...I - .-"-CI HI.. B4",
n n?r''-ann'1lRn n!Chlcagn Vnlen
1 .. 0341 i-fe n, W I atll 4Vt:i
- - l" I 1 103. I 4 03
A Tci & Tel 5i t 103. Chl UV 14)
2 00'4(-.ln.-id'n Nthn 2.. 77 S
('.(sale) 094 1 fl'i rcta 'C 4 V I 7'
1 l'";l 1 . 112'l 1 ... 1024
"' iCnnadlan N 7a, Chile Cer'r Oi
st r cv b
2 ... 70
7 .. 70
Chlcige Rall-
V(R'V 5s
5 . .. 8-',
c n i 4 i' w
2 . . . 8.14
1 ... 844
B(Bale) 814
I 1 si;
I 1 .. . 84;
'C R 1 A P 4a
I 1.. .. 854
I 10.. 834
hooks
chrrKs
hecks
checks
ir..-5.1:
21.5.-);
17.17:
2(1. C: ;
A Tfl 4 Tfl 6
2 . . 115
5. 114;
0(al) 114S
2 . . 1154
U . 115
Amcr'n Water
Works 5s
1 . . 81'.
Ar.ien .Tureens
U Marc W fe
5 ... 81
Armour 4 4
4 . 1134
1 .. 1134
Cana'n Pac 4.
2 ... 824
1 82
1... . 82
1 824
4 . . . 82
1
B
8 . .
5 ..
1..
044
014
04 V.
05
054
Chile Cep'r
1. .. 1134
C N Y 4U,03
i .. S2'i( 4 ..108
rt I of fla rn C N T 44'71
1 .. 100; I 5 . insi;
Cen'l nf r.q n Cl'd Cln Chi
4 .101 Si !. m ,
5 n'- Ctl Levt-.cr 5a 1 . 834
? W 4 084 Cl-d Cln Chi 4
A T ft S 1 4. n ns4 St Leuie 1
n3V 5 . 084 2 101;
1 I" ' 4. 08'!, 1 . I01i
4... 014rnri Tie 1.1 1 10,
13 OH'. I 2 004 ,Clevel'd Union
r. . -i'. Cere de Pas'e Tr'l54.
5 . aj rnp-r 8
13. . . 034 1 127
f'3'...-hea ( e 44 e
LOCAL MINING STOCKS
Tonep-th
Wheat -pptember
December
May
t-'ern
September
December
May
Oats
feptember
December
Mas
"leu.
1 01 , 1 nji. 1 ,t, n, ,
1014 le.V 1 03.' 01 ;
1 '. 1 0,1. in, in,"
Jim Ru'ler
MarNvmarv
MH1-.iy
vi'sr-ch Ex'nsl"n
Mnntani
Verth ?'ar
. rtf si u
Tnnnpih Exierslin
Wr: Find
I West Lrd Cnml-3.
Divide
tins.
5V,
32.
34V,
s
J'erk- Net eiueted
Lard
Peptembr 1" 21
October 10 31
Ribs
September October
net,
,-.8
v.",
31',
3-1,
Ol.
.111,
14
37i;
nil,
.1.1 v,'
31',
31',
37
1" 4"
10 47
1 21
11 1.1
I" 40
10 7
0 87
9 48
COTTON MARKET
New Verli. Auk. 20 The retmn
market opened ctnr-rnllv ra,jrr this
niernlnt: with clprlim". of 12 t .-,
neintH, cxcppt Mnv. which ns 2 points
fiiRher. I'nfiiverablp strike develop.
mc-nlH evernicllt and rnthrr m-ilrn
C' 5! Southern wllJng offset thp cnutiniirtl
B Let weather In llie .Southwest The
iCStf''1 traae, wan eirrn nnu western in-
Y.T - Aw.tteCn 1nvU ntrlV hlllP.t nh..yl.l.
,Vvncn ,...- ..... ,...j., iiu-1,1 CIII1H
overnight elllns orders through com cem com
feil8"len heusen.
The murket, Inter, tiecanic atnmser
and rallied nbeut 20 ixiintN from tlie
lewestt opening levels. Crep udvices
S. JtHIIuei very euiiini.
Irv. Cleas Open Hlih Lew
.-l.ve .1.11'
22. OJ
Clea
1 T,l n no.,.
r, '.V. 21.04 i'Cia st.vs ai 7 ai.a
EH'.. i'lQ4 31 t ilil !? 2e
ty . ,,.. 2i.arsi.veLij.v -i.es ai.wi
iW?M,5"-Kl V-- .
Blrr Plvid
nvhr i:v'"nlen
PMrt
rm''l Ksteniien
Oc'.l Zen
Oeldfleld
r-rark-r Jck
Flnrer.'-e CJeKlfell
r,nldflM 1 'ins
tumbn Hxtenplen
Kanae
Lene Fnif
Rd Hill" Tlnrence
,lr ri'k
Spearhead
Mlwellanrnua
Ampvre
Ariznn Lnlt'd
NVvaila Winder ...
T" "pa
M hue 1 -IP"
V title i'p. Ktena!n
IV -1
14
51
70
12
0
Q4
'1
en
10
VI
1
12
1
AIKd
rtO
t
'J I
(1
8
0
8
It
4
:e
31
21
II
3
Philadelphia Stocks j NEW Y0RK BANK STATEMENT c wr. X&wVVbsi
H h 1 w
3 1U Am Ptrs. 14 1 !
.1.111 HI.-.- Ster. 1 -J7 .
r.' r.i'f Nnv 75'2 7.-'
."OtNnr I'ne l S
enr. rv-unn it n im, ic,
.1(1 I'enna Suit M SI
MHl Philn Ce
cum pf 41 II
37(1 ihila I'.ler X21 .1.'
0 de pref . .11 'i, .11.1,
2IVI l'hlla It T 3J1-. .11"
70(1 Teii'i lid 1", 1",
.KiCiT'itie Mln. 2 A 'Jt,
;S 1'iilnnTrnc 41 .dT,
es.i v a i . ."in, ."..".',
202 de pn'f.. "i ,"."
Nt
i ."se rhce
11 ..
47' i,
itr rifi-rvc
T.-'s- "j
Ss'.,- 1,
HI'S ',
SI T J
14 ..
32 I.
IP, .
.12'-. .
IV,- ',
2r.- A
41 -r fs
r.'', '.
fi.-iU..
I AV
,. -a i s ... 4
1 1 -fh in nu'ta
nnd rrm)""r
, t.nrki
rt'-,e -n m-m-I
r hapke and
r.serv-i tinkH
R rvn In Hi'e
I hjrk and tiust
i "ime.imta
P're In d-cit
lark, ami trust
. irrpruH dfjvjsi.
rla
N. demand de.
pr. 1 1 1 . -3
1 ! dtelta
' lcr jiat .Jll
I'ruttdSlatesde
p.iMlts deducted
KRAOC
Till.".ivr"!t Last VV.e'K
HI -.ci k,e til 11.1 TOVi
521 170 or.e 532.ini.ftV,',;
'5- "-H "'"I 1017 .154 OOlj
5fl 017 001 .',.',. 774. 00n
.107.744 000 Rll1 707,000
Sterllnc Kran a Lire (luid...
p.mand 4 47.V 7 47 42l)i. an S
cable. . 4 47 A 7 174 4 2'.J 30 q
11 e "i-r,.-i.-vt, l'iJTATIONS
" 4314 S3 te
Demand
LllblcS
Pemand
rabies
C Lf'SIN'S CIL'JTATlONs
bt'r'liv fTjne, i.,,, Gulli,r.
"'4 -I.. V3m gg S3
32 03i
A cciaft I. 1 It
5 85
Atl f I'rult
1
Atl
4
14
1
0
0
1
1.
1
Bff
1.
I' I. O cv
1
10
n
1
Keale)
i"ha'e i
He .Cem
01". 5
10511.
. 105 S
10,1 ,
Cabl la
75
At! Mil
ct ll'4a
1 10V.
Unit li Ohie cv
38V.
5s wl
01li K.alel 01
00 'r-hea'e i O .'.
f" 5 103 U
01 ' 1 103H
ffBlChefnt-ake
nr.ln cv 5
OOtj Cen'd Ceal Ce
01 e' Md 5s
01S, 1 01
tuna C'e r cv
5 no
5 00
Cuba C'e Hug
8a sta'd
1
207,000
0 r,;i ivki
.171,001
Porphyry Output Increases
j Colerado Mirlnit,, Cel, Aus. 28 rrej,,,
'lien of copper uj the ftafi Vhlnc. n.1"
c.-onfelldjttd un 1 .Sail Coneii,,ti j .".V
tuni.ii. rct'im'l la, 1 Anrli in., ..'?".'
shutdown of a sr. st.edily lncraff,i jUrini
ch mnnth nf Apr .If an. I t,,.. ' "'.'"&
0.233.000
0 4.1 een 8 ajji 350 nne
1fi7 cin 000 .lcis.221-0O11
3 ilO.one 38 SiiT.iXril
58 070,000 50.330.OO0
in.' 10 the r'P'MH vt the sr nn.t ,..;.":'":
I l-i.'I iniid" publl. here tedni V th M rV,
-,.,., "in "Apr II "S- ViVl,""rJ',ny .nM.n;
prndurtlen Juim-d te (1 i82 371 found" iml '
6
1
7.
IS
1
1
Unit
1
9
Bait
1
87
sn'i
87
.7i
ine .lull.- l-i-u'i'i'ii .," 1. 1. IJV-J rmilnrfu
the r.pert e'-i-J Chlne a net prod u.?ln,,
fi.r the three months iva iu ' , j Syi". !
round", for April lil7neSl fn" j,.""J
1 Cin Ml fnr .tun. In,'. -...-..' ""I
Net ehanre made bv cmrarleen with last
ale en New Yerk Stick Em-ranee
Total rales. 4442 eharce compared -vlth
400 thnrtn verterdav Thus far 'hla week.
40 740 shares
BANK CLEARINGS
Dank rlearlnis tednv compared with cor cer
reavvmdinc day last te year.
J70.000 OOO $35 COO, 000 70 0.18 344
l'hiia
DIVIDENDS DECLARED
Swift 4- 'e luaiterlv 12 payable October
1 te Bleck 'I rf nrd iSeptember 9
llosien .ind Albany Kal'read, quarterly
2 payable Hrpiember 30 te Bleck of rec rec
erd August 81,
Pennsylvania Water and Power Company,
Suarlerlv 14 per cent en ateck. payable
cteber '.'. as rElstered September 15.
flttaburth. FXeit Warn and Chlcate Rail,
read, nuarttrl'- lit par cent en common and
preferred. paj-ablVictebtr 1 te October 3.
iaspcctlvely, te JUBt of record September 0,
2000
."100
1(V) I
1000
loeno
100
neon
2000
r.oeo
1100
3000
TitrO
1000
1000
6000
Total,
terday.
MS.
MS .
rniLriKi.rm iminds
Liberty 1st 4',s ".) . ..
Liberty 2d 4',s '12 ..
ih-rty ,lc 41.,,
Liberty 4th I'jh
Liberty 4th 4 'la
Vlctnrv 431H '2.1.
City 3V,i '.12. ..
Luke Sup lnc tin
Iht1a Ce con r3 , .
l'hiia niec 1st ,1s
l'hilii Klee 1st r.s
I'hil.t Klcc Ti'b .
Philn Klee 5 Vis ..
I'hiln Klec ih ....
I'hjln Elcc Ca
137,800. compared vrtth 180,800 yea.
inui iar (ma wwt, set,UDQ,
".
.......
100 OS
.100.30
. 100.22
.100 li.s
.100 70
.100 .111
. nr.'..
. 35 "
. Ml'i
. 100 Rh
. 100' a
. 102
.lOUs
105
105Vi
nv, rtscrve .
Aiisr.va'e re,
r.,nnr etc
1 nh in vaults A
member banks
ItierH In rnem
rer b.mks nnd
reser bnka
rteiere In fc-late
banka nnd trust
r.mipanles
rte-erve In fltftie
banks and trust
rr.mptny deiosl deiesl deiosl
terles Ni demand de
posit, .
Time deposits .
circulation
t" K deposits
deducted
ACTVAL
This ceK
7 DM .".110
521 531 010
."..'. enn een
f.fl,t week
Jl 020 500
507.180.nen
4, nn.' 7.30.OO0
54 054 000 53,381.000
, lu V, 750 S2 pound, for Ap 12 ,07 'ill
Iter M?v and 2 Hit 30 1 for Ji m liii'dij
113 n 14 pounds of copper In ere sent di
rc-u te ihe sm-lter Nevada'a nures for
th. three men'hs ere April 2 1 11 i"il
rounds May. 6 103.177 pounds, Sd junu
1 4 '.'gel T41 IH.undii -cunu.
r
504 770 000
7.174 000
0 5R4 000
i 30 ei noe
49 I. SCO 000
33,701 een
5.10. 09.1, 000
7.O39.0OO
0,752,000
3 8.10 R47.O00
510 402 nne
83,778,000
58 O7S.O.I0 5MOn,000
Reserve Banks' Discount Rates
I official rediscount rales at the tweU p,d.
'.-..I neaerH lUnks are nn fMl . r c'c-
vemi Ukrs
rates accept
4
ft
11,
P
BUTTER, EGGS AND CHEESE
Ne Vnrk Aug. 20 ni'TTKFl firm. Ite.
celnts 14.430 tuba i Creamery, firsts (88 le
01 .tore), 32H 030c. Other vradea un
changed EOQ8 firm. Receipts. 18,783 cases, Que.
Htlena unchan6 . .w
rnnr-HR Arm. Receipts. 27100 baxea Oun.
l.ilAiia enrhinft ....
i- --
official rediscount r
eral neservci lUnk.i a
-1 re. .
ctfs.
. 4
. 4
41;
. 41,
. 4H
-n
Lesten ,
New Tork
Philadelphia -Cleveland
.
Mkhmnnd
Atlanta . . .
Chicago ...
Pt Leula . .
Minneapolis
Kansas City
ft. Ilea
Ban I'ranclsce
Til.
bends
4
4
.
8
4W
t
IP
il
Hi
ft
COTTON8EED MILL8 ASK COAL
Atlanta, Aujr. 20, An effort is
being made here te obtain enough coal
te operate cottonseed oil. mills and (Int.
Mill owners say they face a less of
millions of dollars unless they get relief,
7
P0'
& e a'js
. 05
0 44
& Ohie 4a
h7'4
. e.8
. 81
88
88
ti G-.te -Is
02'.
Halt & Ohie 0s
1 111S
1. . 101
t. t01'4
nalt 4. Ohie S
W'n 3V4.S
1.
Halt
5
3
1
2
3
ru
Chi n
i
t
03',
e:iv.
03 H
Tel 4 s
71H
71S
72
72
2
8
e.
n'ic
2 .
i
ii.
8
rjarned'H Cerp
A 8s
8 .. 103H
Dell Telephone
of Ta 7s
4 108H
Beth Steel fd
8 .. . 07U
Deth bleel
1.... 100T4
8.... 100i
3.... 100T4
l..r. 10OM
l.,..,JW
)
081
08
08U
. 08
ec;
Alt 3V,s
51 1,
51
. r,m
51 u
51',
char 5
00.
ft Q 5
11(
1014
r'(El 5s -il
13 84
I2(sale) 84 4
3 84 4
Chi & O W 4p
5 0JH
Chi Mil A rm
Sound 4s
5 78
Chicago Mil
S1P0 4I
1 ..88
Chlcajn Mil 4
SIP 4s "28
2 884
1 88H
2 . . 80S
2 88U
1. 88S
5 . 84
Chicago Mil
StP cv 44 a
5 754
Ms.le) 78
fl ... 88H
1 75a,
D 75 1;
1 75U
Chleage Mil
BtP fd 44 si
s eH
2
5.
1..
1
11 .
044
034
03 4
03 ;
03 'i
03
Cuba rt ltd 5s
2. 8114
2 854
Del & Itue v
os;
ft
Den
2
1
t
.,
A
2
D ft
n
ft n
Hud fd
03 Vi
O fd
47H
474
48
. 47.
474
47i'
O 44s
834
Det Udl 5s '40
1 . 07
net Edl Ce 0s
1
t
Det
1
Det
5
101;
114
Gas 3s
tens
n 44s
84
Dener 7 vl
2 OS
D de .Vemnure
Pwdr 74 a
5 , . 1874
1 1084
8 1074
7(sala) J 07 4
Dill Light fla
8
A
1..
1..
Empta
J 04 4
1044
1044
1044
Oaa
ruel tHi
a..,,, BTV
O,, jf, c
u'.'X r5
1
10..
2..
7..
3..
FIsk Hub'r Ce
8s rcta
2 ... 107
2. .. 10T
Pram'n Indutt
Dev 74 a
1 .... 034
Franclser 8ug
74 wl
2.... 1014
OenM'l Elec 5s
10.... 1024
1 1024
On Ilefrac.
terles 0a eta,
1 P74
n K Ooedrlch
Ce 4s rcta
8.... 1024;
18.... 102S
1 ... 1028.
Geed, -ear T ft
Rub'r '81
1..
1..
2 .
i.'.
1..
100
100
1004
100
10 0
1004
Goodyear 1 ft
Itub'r '41
13.... 115
20 ... 115
Or'd Trunk of
Can 0s rcta
1... 1044
Gr'd Trunk of
Can 7
3 ... U8J
Great Nerth'n
nly 04s
1.
1.
2.
1
Great
103
.1084
1034
1034
North' n
nall'y 7a
1
3 .,
5 ..,
3..
1 .
G Hay
10 ..
1.
10 .,
5
IMS
1114
1118.
1114
HIS
vv
. 174
. 17
. 17
10'i
Uellsnd-Am'n
Line As
5 . . 884
Hud A Man fd
Ksale) 804
1 .. . 80.
2 . . S0
1 88.
Hud ft Man In
20 .. 004
10 . .. 0(5
Humble Oil ft
Kef's 54 a v I
4.. . 1004
IIli Central fd
IS .. . ni4
2 . . 014
Ills Cntl 04e
2 . . 101;
Ilia Steel 41,,
10 02
Indl'a Meel 8s
1 1004
lnt M ct 4 4
4. . 144
lnt Met ct u
44a
lian Elev'd 4s
8 OBtt
2 084
Market St Rly
8 Fran 1st
2 8RU
1 804
At Oil ct 7Vvi
1.... 1124
M Oil wa'd 81
4.... 1204
Mid 8 ft Or 8a
St
1..
1.,
1.,
ft
S.,
0.,
8.,
1.,
2.,
2.,
B.,
M l StL fd Ba
1 48
B 484
1 484
M StP ft S Ste
Marie 84a
2.... 1014
Me Kan ft lea
aj wl
804
004
00 4
L 4i
484
40
484
40
40
40
40
034
034
03
034
034
03
024
83
884
024
034
03
03
03 i
15
1
11
10
20
63
3
25
6(aale)
2
14
12
10
10
Me Kan ft Tea
8s wt
11 80
1 80.
10 88
Me Kan, ft Tex
6s wl
10 074
Me Pacific 4s
0 004
16 004
15 00 4
15 en.
1 .... 004
8 CO 4
2 . . . 604
Me Pnc 6s '28
2 ... 07 4
Me Pac 5s '05
2... . 034
Me Pacific fls
1...
1...
1...
0..
2 ..
2. .
8 ..
6 ..
Ment's
4...
4..
. 103
. 1024
. 102
. 1024
. 1024
. 108
. 102
. 102 1.
Pr fie
. . 00
034
Pae T T 6s
084
084
084
A Tel
2.
2.
8.
Pae Tel
Ba rcta
1 03
B 034
B 044
2 084
Pi Him 44a
1 1)44
1 P44
1 044
Penna R R 6a
1.... 1034
Penna R 84 a
1.... 1104
Peoria ft B In
10 884
Pere Marat Bs
2.
2..
3..
Phlla
1..
1..
1...
rierce,
6...
2..
1084
1004
. 100
Cnty fd
. 1014
. 1014
101 u
en os
108
10O
Pub Berv Cerp
N Jay 6s
2 87
7 874
4 874
4 874
Punta Allegre
Sun co "s
12.... 100
5.... 100
Reading- Ce 4s
8 SOU
4 80
4 80
10... . 80
Ksale) 854
Rem Arms 0s
1 044
Rie Crande ft
W'n clt 4s
1 70
1... . 004
Reck Il'd A ft
Loul' 44s
10 844
6 844
10 85
St L I Mt ft Ct
R ft CI dlv 4s
5 ... 804
10 804
10 804
1. ... 8S
St L ft S F a)
2 84 4
2.
3.
1
Union Tae 0a
10.... 103
TJ Tank-C 7a
1.... 1034
V B Realty ft
Impv't Ba
1 084
l()i!.'.."074
1 .... 074
2 974
V 8 RubVr Bs
3..
1..
2..
1..
2..
10..
8.
00 4
004
00i;
00
004
00 4
80 4
V B Rubb'r 7t
6.... 1024
U B Rub 74 s
2(flat) 1084
2.
7.
4 ..
1...
U'd S
4...
1004
. 100
. 100
. 100
Steel 6s
. 104
3.... 1044
8.... 104
3.... 1034
Utah P & L 81
1 03
1 034
Va-C ch cl 7a
4..
4..
1..
4..
4..
1..
4..
&..
08i
08 V.
084
084
084
0Si
00
tl
Va-C C cv 74
. 2 04H
Va-C Ch 74s
2.... 103
2.... 103
2.... 1054
1.... 1034
lO(aale) 1054
Va-C Chem cv
war'd 74s
4...,, 074
2....; 07i
B 074
Va Rwy Ce 5a
3 OS
Warner Snttt
wi s aa
2.... 108
1 ... A, ,
I- . . . .ue-a
Wea'n Elee na
' """i
Wea'n Elec g
2.... teg
B.. 104,4
West'n lid a
1 84
1 V9J
Wcitinihi'tB a
3. . . . 1Aft
WALE 44(
7 .... 72
Wilsen Ce 1st
... 1014
3.... 1014
Winchester R
Arras Ce 74 g
2.... 103V
Tartar' sale . , , ,
Yeaterday'a sales..
Total for this week,
f 4.010,000
11.847.000
14,905.000
The Ll8t Committee of the local stock
cxchnnRC hns today admitted te the tin
listed department, American Telephone
nnd Telegraph Company warrants de
llvcrablfi when itmucu.
n.
6(sal)
1 .
St L ft 3
10 . ..
2 ...
Kaesau Elec'c
Rwy 4a
3.. . 54
Kew Kng'd Te!
Ce 6s wl
S.
I StL
ft is
1..
1
2....
M Or' a ft
10
1.. .
New Or Tex
Mexico 6a
2 7(14
New Or Tex A
Mexico Oil
004
00 '
004
T 4e
70S
81)
Series
3 .
1.
4 .
84 '
84
83i
84 '.
844
84 i
80
r In
774
78
78
78
I-ran
y.......w.
llllilllhfet
SPECIALISTS
We make a dependable
market in all iisuet of
UNITBP STATES
GOVERNMENT
SECURITIES
COMMERCIAL
TRUST COMPANY
Member Federal Reserve System
City Halt Square
74,
71.
74
2.. . 73;
StL & 8 Fran
Series D
2 884
1 89.
StL ft M Fran
Serlea C
1. .. 100
StL a. s Fran
54s wl
C S. PATTON & COT"
ID J CHPOTNI'T RTS.
BANKERS
Bneeewera te
JAILER BTKVENSOTt
Sonde and ateeka bought nnd MM.
Members Phlla. fteek Exchange.,
17
1
1
2
8
4
N T
8.,
N Y
2
X Y
2
8
3 ,
2..
2
1 ,
10.
25 .
30.
12
1
4
3
I
N t
5 ,
1.
10.
144 5
14',' 1
15 ,N V
144 2
14V 2
144,.V T
Intbo'e n T fdi Leuis
1004
Cfl 344
. . 814
Cfl 44s
004
Cent' I 5r
... OR',
... 084
... 01)
.. 00
... 00'.
... Oil
... 08
. . . os;
. 0S4
.. 0S
. en
. H04
.. OS',
. . 084
Cent'I Oe
. 1074
. 107 4
. 107".
1074
107S
. 1074
107S
Cenfl 7f
. 101 1
105
Chi 1 St1
1.
1...
I .
e
StL
10 ,
II ,
1 .,
v.,
1
05
, . OV4
.. 110
... 00
Hw'n en
, . SO
, . 80
... 814
, . ML,,
, . 82
S24
fan Antonie ft
A P Rly 4
3 . .79 4
1 . .80 4
Seab a a I. fd
2 ., 4-
2 . . 41.
404
404
4Ulj
404
41I4
Mr L
WANTED
A reliable d'(al nsent who ean aell
ssoe nne worm of stock In one of the
finest mnvliiE picture t'.ieatres en the
Atlantic eeabeard Adrtren F L. H..
Uex K54. Atlantie City. N. J .
Lawrence . Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
1050 RRAL KSTATK TRUST BI.D0.
lnveetlcnte nnd adjunt cnriioratlen and
turtnershlp accounts and srepara Income
Tax netums
2e2
8
2 ..
10
Se.ibe d
Sta'dls
01
Seab'd A 1. 0s
0 .
FINANCIAL
ProeAnla
1
e'
3.
12.
13.
1
7(i
10
18
20
5
A
25
1.
S
4s
7(snle)
lnt R T fd cis
15 . 72 H
31 72
In'r'l ft Oreat
N'n aj wl
1 . .. M'
10 ... 54t
30
5. . . 54H
8 54 H
Inrl & Crcat
N'n ct 5a
1 . 80
I M Marine 04
02
72UI 1 001;
721, N Y Edl'n Ce
734 I 0Vs rets
"; 1 ... ins
71' 1 . . 11114
72 New Y N II 4
72 H cv 34 a
72 I... . 51
72 4iNew Y N H ft
TSHl H 3V4s '54
724l 1.. .. 81
72 (New T N II ft
73 Hart'd Km
T24 1. ...
0
1
nif.iic)
1
3.. ..
1
New Tk
ft .V
1
5 .
3..
1..
1..
I)
1.
40 .
32 .
10..
1
2 .
2..
77..
70
701,
70N
701,
70H
7m,
70
70
70
70
70i.
701,
70
00 S
Sh Steel II 81
1 08 v.
1.. . OS',
Sinclair C OH
Cerp 7a rcta
72
'
811,
84 i
R4i.
84U
4,
84',
84'.
Susi
"n fd
Bit,
3..
1
I li.
130
1
5
10
10
5
5
5
0
024
02
02';
02.
03
03
03i
03 4
03H
2. .. 03S
03S
1 03;
2 034
tnt'l Pap b 5,
1 SOH
1 80 14
3 . 80
1 80
1 f0'4
Iowa Cent'I H
t . . 45e
5 41'.
I 45
Julius Keyser
4 Ce 7s rets
54i4N Y TeleV '41
1 107
N Tk W c
Hest 4H 1
2 ... 57
4 . 57 S
4 . .871,
5 57
Nfk Se'n R 5
2
1
1
5
Nfk
3
1.
70't
.. 704
70.
70 '4
W-n 4
. 03
03
Wn
1.
1
Kan c
Mem
a
1 .
8 .
Kan C
2 ..
Kan C
1
O R Kinney &
rn 7H
1. 07,
Lack titeel '.n
3 .. 100H
Lena- U'd R fd
1 .81V,
1. .. 81
L ft J Rdie 4s
108
105
rt B A
Is
81
824
83
ft P 3s
72
4 R Is
02W
Norfolk ft
cv 8a
1 net,
N A VV Pcce's
Ceal te 4j
3 87 14
N A l'.dts'n Ce
0 rets
10 . 0314
5 Oil,
10(sale) P3U,
8 04
N Dhln Trac ft
I.lirht fla
2 05
I. . P514
t . 00
1 oil
North Western
Dell Tel 7s
3 107',
10(sale) 1074
3 107',
1. 107 V.
N Pacific R 8
1 . 044
N Pac R Bs wl
10 . DO',
20 nnvj
14 .. nv
2 ooh
H 00
N Pacific R Op
1001,
1001,
100
10'H,
100r4
100 l.
11 . 07',
"(sale) 00'
1 00',
1 O(svle) O0'
Sinclair C oil
. Cerp 74 s
0 . . 103,
1 . . 108.
Sinclair Crude
O P Ce 54 s
2 .... nes
.1 . pnu
lfXsale) tiOi.
2 00H
5 . . . 00 V,
lieu Tel :.s
2 901,
6e'n Pacific fd
3 . . 02
3 021,
1 024
R P Term'l 4s
2 844
7(aale) 84.
Sn Railway 4s
SCHOOL lll)l'K AT ASIinm RNK. TA.
for the Cheltenham rhnel Dlctrlrt
Se.iled ptcresals will be reced by the
Scheel l)lstri.-l of Chelten'.iam Township, for
Omeral or Structural verk and for tr.s
riumblnc et rrovered Ashbourne school
Heuse all of said work te be cemp'rttd en
.r lfere the time or times eel feith la
the fetm of proreais.
Plane and tpeclflcatlnns may be obtained
nn or atier Ausust j. irem nernert v..
Wle. lteirlsleied Architect. 1116 Chestnut
street, l'hlla . upon d-penlt of 125 by bldd;;.
for Hie neneral conetruitien work and II'
by bidders for the ether work, which depejfi.
less the rums of JO Hnd $3 respectively, will
71.
71.
71U
71.
714
71.
714
71.
004
83
.. 884
. 834
Nash 4s
03'i
Nash 7s
108
llsnstl Burar
Ce 74s
2
VIIMI
5, ,, , ,
1
4 .
2,.
Le ft
1
Le ft
7
00;
004
OK
1
2
2
2
Nth
8
2
Ore-w
t f ....
100
100 '4
1004
1004
Parr 8s
. 044
04 4
rt k
Nav Ce 4a
1 84U
Otis Steel ,a
1.... 101
I . . 1011!
Oils St ct 74 a
M
Pae O ft E Is
an It-all y (14 ,
1 1034
4 1011.
. 1 . 1034
Standd Oil of
caur 7a
I 1 ' 1054
I 1 100
Jerrn'I R R A
or St L 4s
J -- . 814
5 f,?
Third Ave aj
. 07
1 . 074
P 08V4
Tidewater Oil
Ce ct aVia
13 m-n,
' , 103'i
Teledo Bt L ft
West'n 4s
, . 75
Ter II ft n 4,
I ... 85
Union lis 4
Pap fls
14 . nn
Union Tar nv
2 . . 0.14
2 nau
t'nlen Pae 4a
05
05
3..,, , 05
I.,.,. 85
I
....
K& ..CnnH.H tinnn (he ritlitn Af ,,M ClltlS
and sneclf.catlens with the proposals N
hid will be considered unless submitted ac
cording; te th form and schedule attached
te t'.ie specifications.
A Surety Company's bid bend for 5r of
the amount bid must accompany each bid.
Bends uubject te tne approval of the Scheel
Heard. A Surety Bend subject te the ap
proval of the Scheel Beard for the full
amount nf the contract price, condlllenei
for the falt'atul performance of said con
tract In accordance with the plans and
specifications, will be required te be flled by
tah fcucersful contractor
All rroreHls sealed and properly marlisd
shall be dellveied te and recehed by Herbert
C. wise RceM Arcnitert at the above
address, net later than 12 o'clock neon, en
the 12th day of .September. 1022. Ne bids
otherwise vr elsewhere fubmlttel will bt
eemldered
Bids v I'l be opened at the HlFh Scboel
nulldtnp Klklns Park, at 7 30 P M of ire
same day. Hours named are Standard
Time.
Tie K'heel Tieird reierve, the rlht W
reject anv or all bids
Bv erd"r of the Beard
ELIZABETH B SCARBOROUGH
Secretary ElMns Park Pa.
Iin,TIN(i AMI VENTILATINO
KLKCTKICAL 4)RK
Vcr 8che;l Heuse at AlinOCRNE, r.
fnr the Cheltenham Scheel District
Plans and epeclrtratiena of the Heatlri
and Ventilating also plans and epeclflcatleni
of the Electrical Werk requlied 1.1 the pro
posed Ashbourne fehoel Heuse may be
obtained en and after August 28 at fie
office of Menslnu ft Company, Presaer Build
in I'hllv nn the deposit of fi.l J13 t
which will b" refunded upon the return e
slid plans and specifications with t h
proposals
All particulars and conditions the lame
as abeie stated for ether portions of tb
work
By order of the Beard.
ELIZABETH B RCARBOrtcirC.H
Secretvrv I.IWris Psrlc.
DEPAnTHKNT OP PfllMC miKKS
ni'Rff IF HKiKM.WS
Itnein 232. ( IH Hull
Phlludelphli
ntF.n 1- nt'NLAr.
Chief of Bureau Auuet 13 1317.
Sealed prupcis'cls will 1 recelcel and
opened In Roem 210 City Hall at 12 o'clock
iiiMin, Vrldny. Sentemher 8th, 11123 f"
A I-'uur-Unlt Refuse Inclneratlns; Plant
bavins e- capacity of 20 tens of mlx'l
refuse per 24 hour, at "O" street ind R
mnna avenue, Hi the City of Philadelphia
The City will construct the foundation,
bulldlnia te house the plant and chlmiieya .
Bidden, must be responsible and hive haij
experience In the construction of plant of
Ihe character and size
Free flcatlens proposals and furtnsr in
formation may be obtained from the above
"Ynqu'lre at Roem 2.12 City Hall ..
KRANK H CAVEN.
Director.
RTKAM Miir NQTirrs
nAMMMCAUHttJ
lAMsIHICAUNf
NEW YORK TO ROTTERDAM
VI rijimoeth. lulofejp-fiur-jlfj ,
Ryndam , ,,,8ept. . J Oct. 1 WOT.
ta-itPiil.
felVt wii;-iJVfWtVty
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