iWJ.-1-..V.. -v'tWi f(j ' 'W srni ,-M ?: $nx s . iS.. t;i 'f . m m fePMi ; l IC 1 wmrr EVENING PUBLIC LKDGl!R-PHILAl)BEPHIA,' TUESDAY, OCTOBER lfr 192 Sf M fcffMf "75,000 U. S. GOVT. 4 Bends flafcd October 16, 1922 Due October 15, 1052 ktdecmable October 15, 101,7 In exchange for maturing Victory notes AND TREASURY CERTIFICATES AT THE MARKET Harrison, Smith & Ce. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA LOMBARD 6100 E XCITING SPLURGE IN DOHENYS PEIS Huge Lead of Leng Stuff Dumped en Bulges Gave Market Indigestion New Yerk. Oct. 17. The Mexican oils rnme nenr bring the whole show In tntlnv"n very lrrcRiilnr stock market. Tim 'renprnl llt cave nil s intUnmi of haviiiR n slight attack of InillROPtieii. i ThN was net altogether MirpilslnR in view of the huge lead of limn "tint that has heen cumins out en the bulk'es xinpe I the "Meik dividend" epidemic struck the speculative community ever n week I ace There was no wcaltne" ; en the I contrary, lemnrknbly Reed absorption unu nliirisl nnil tlic most Part of list was found till susceptible te bullish Intluemcs. Still It was apparent every flick of the trade ik bclns played te facilitate profit-taking. i The eutsUlninc net ei tee uay wns ' the seusntieiuil bulge In Mexican Petroleum and the related issues nt tin. nntsi.f mid ilurlnc the early ileal- . iiigs This was of the same spectacular . character whlih has marked the hlpe- dreme plas of all the se-called uelieny . Isteiks. It was .mother masterpiece of 'skillful manipulation, anil from all i Indications, caught a goodly portion of ! the speculative element off their guard j . When the meke of the battle cleared lawav Mexican "rete" wa up nenrlj 1(1 iwilnts with 4 for Tan American '"IVte" and 'J., for "W steik of the hitter company. j The excuse for the fr--li bullish dem onstration .us leperts of a iesslble In crease in the easli dividend and decla ration of a stock diUilend. b the l'niij American l'etreletim (.'.unpiui . followed b an offer of exchange for Mexican I'ltreleum The feimer nlreadj own-., i.pprexiinately 7" per cent of the out-! standing stock. 'While this story lu't been sprung often before and done geed service in former occasions in sending a misguided short interest te rout, It was lellewsl te be nearer tne real truth this time, because of the pievai'lng fashion for all corporations with fat surphi'-es te distribute them before the tax collector emes around. The movement was net altogether un lit raided as for some das all the promi premi unt 'tipsters" tind "touts" had posi pesi i tit ! iiifnrtuntlen bv the crane vine route S"W T1?AII &? CO something big was geln j te be pulled off INCUltPOH WKI1 11MAULISI1KI) laa 1617 Walnut St., Philadelphia The Best Test of Safety The best test of the safety of investments is adverse conditions. Straus bends have met this test. Our record, 40 Years Without Less te any Invester, cov cev ers a period including two wars and four financial panics. Investigate these 80ttndbends. Call or xvrite today for BOOKLET ilOG-L Phene Spruce 0387 40 years xvitheut less te any investor 19:: s. w s. s. Ce. FIRST CLOSED MORTGAGE 20-Year 7rr Bends Yielding 7.0rc IPcnnn. J-mill inx refolded, $10,203,589 of net tanc tile n-et- after all liabilities ether than funded debt ecpial te JiSJ per J1000 bend. Current asets mere tl.an s. times eurrent llab'lltle' Average net annual rirninns available for bnml Interest for 6 1-3 years te April T is.'.', tnore than four tlmea Interest requlre- ments Circular and Ilalttnce kheet en rt;ut3t I,..- iin. Iniiisps enlv n few il.its npt. get i red het wire te get even body aleard reirardle-s of price as the stock was scheduled for -."0. Although the demonstration cut up a great dial of dust, it cons-pii-ueusly failed tn stimulate sfteeulatlve enthusiasm as most of the recent bl; bull plns have done On the contrary, it had a i I dampening effect, evidenced in the in- ! creasing caution manifested in ether ajj.jjj.aJJJ.aj.ajj; . . ... tfmivv vnlHiii?. wbleh '5 appeared in I'ntted States Steel, li.ild t win I.eenmntue, Studebaker and Amer 5 icin Can. caused hesitancy, but when then elTenngs had been digested nnd 5 tlie trading in the Mexican oils slewed t down the main Ixiily of stocks moved! 5 forward asnin. Te stimulate the cour ceur g ' age of the bulls, the long neglected C eeppers were taken up and n broader ( h impair; was noted ler tae feed, puiiiiu I g utility' and tobacco shares. The rails P were' likewise given a fri"-h upward . ' start under the lead of New Yerk Cen E i trnl. which crossed par. the advance i in this being accompanied by reports m j ei aiiuitieaai iniiineiu iiiieuu u jiuh Z 7 per cent preferred stock issue. '! Commodity Markets Drsxcl Building, Phila. KHt.ihlMird lOfli Correspondents Lawrence Chamberlain&Ce. GRAIN MARKET , P j Chicago. Oct. 17. Lewer prices for Fairman & Cnmnanv Cr wheat here tnh. during the earlv rdirilldll OC luntpdny g ,(.,ilngi. resultisl from a decline in Liverpool quotations. An increase of the amount of wheat en eeean passage received some nntlie in this connection, and se. ten. did tall; that a setback ln the market was te be expc ted in ; iew i f tlr decide, advance in prices of late. ( the downturns, however, commis sion house buying lm reused Initiel figures, which rnngfd from " cent oil te ',i cent advance, with Dei ember Sl.llWj te SI 1-J. and Ma S1.1TH te si.llTi, were followed by slight declines all around. Cern nnd oils receded with wheat. After opening ',s cent te ''s cent lower, with December ll."i)i te f!."Ts cents, the corn market underwent a little further sag. Onts started ns cent lower te 's cent advance. December. -11 s tn 41 ''i cents, i allied a trille, and then dropped lower than before. Previsions were firmer, guided by the action of the hog inaiket. m- w iiidliniiiJjt SPECIALISTS We make a dependable market In all Issue of " UNITE STATES GOVERNMENT SECURITIES COMMERCIAL TRUST COMPANY Mcmbtr Federal Ruarve Syitcra City Hall Square mm Doci-mVer Mav Julv WhfU -Pccembe-Mny Jul Oils Pii.bnibT May . Ju.y Km IiwemlT M I.aril ii. u r Hid Prcv c'.ose ii I . G7' C,-,', 07 Oupn n.'v. un'i 1 isi, 1 01'i 4 IS se 10 11? Jf I 11 W 1 11H Jl ll' l.OPa ni ", it n 'i 3U 'i 7i., 7S 10 7.1 41S ir.M i it' i i '17', ' Hi7a, 1 12'. 1 l-,lt : ift 41'. , 42 71' . 7U LITTLE DOGS iemctimts BARK LOUD Small advcrtliemcnti teinctlmci bring big rciulti Jehn Clark Sims Company, Ltd. Qtntral AJrerliimt Aimli 2 18 Seuth 16th Street PHILADELPHIA COTTON MARKET I New Yerk. Oct 17. First prices in , cotton futures were steady at an ad- ' vance of 1 te l.'l points. The feature was continued strength and actiwtv in the cloth and varu market, New Hrleans, spot nnd eominlssien concerns and Japanese interests were the chief bu.ven at the start. Liverpool, th" i Seuth and Wall Slreet sold Aftir the cpenliig the tone was steady. About thirty notices were issuid ! 1'rev clean Cin-n JJ Vi'it l'i 2: flu 2 J ImTC.MI a a 22 37 ffan .'.' 42 .' ! 41 Wii ii ,-fi 22 33 010 J. 4 1 2." is 22 jn IiTmLer i irtnhnr Junuary irr-h . Ma . July 1 I .f i 2. s3 .J 17 !J si) ii 7j HIGH GRADE SECURITIES Yieldinc from BVz te 6 i ROBT.fiLENDINNING&CO KXiililMiril lni 400 Chestnut St. NEW YORK COFFEE MARKET New Yerk. Oct. IT Very unsittlel Itraxilian mnrkets piometul ieiuiimihI selling of rentriu ts in the local coffee, futures market this morning, opening pi ices being 1 te I points net lower. Ti ailing, however, was inactive I.utt' ln foteneon. nrices weie abmt at initial figures Trading wni dull and without fredi feature of any kind. Seme of tin- rteent selling m this mar ket for ICuiepean account has been presumably en big nep prospects for next venr PlO f .11 r)ief mbfr 'i 20ft; j Miirrh ... I' l'i .Mnv . (i 0170-, July . lisetii ail'i-librr . . 'luyiil I'ld NEW YORK STOCK EXCHANGE TRANSACTIONS Only Afttrnoen Repert in Philadelphia Quoting Full Litt niv Ka'e III f STOCK Hlh 2000 .. Adams Kxprens.. . . 02 la 100 .. Advance llumely.. 19 100 3 Advance llumely pf 54 t00 4 Air Induction C2 200 . AJax llubber 15W 200 . Alaska Juneau O M 1 V 600 4 Allied chem A Dye. BSVi 300 7 Allied Ch ft Dje pfUSH 2300 4 Allls-Chalmers .... 52' 100 7 Allls-ClmlrncrH pf . . 99H 200 .. Am Agrlc Chem.... 37& "00 fl Am Ileet Sugar pf.. 80H 1C0O .. Am Hesch Magneto. 43?i 100 7 Am II Sh F pf new. 11 J 3000 . Am Can 72'4 100 7 Am Cnn pf HO'i 200 12 Am Car Ss Fdy.. ..192 100 7 Am Car ft Fily pf.. 121 i 100 .. Am DruR Syn B'-i 200 .. Am Cotten Oil 26 fa 400 S Am nxpres.1...'. ...157 600 . Am Hide & Lcath pf 72 U 100 7 Am Ice 113'i 600 ., Am Intemat Cerp.. 37'4 300 l Am La France Kng 12H 300 7 Am I.ii Fr Hnc pf .101 H 100 . Am I.lnseed 40i 700 f! Am Locomotive ...133?i 810e 3 Am Metnls DOW 1000 4 Am nndlater . ...U-S 300 it Arn Snfctv l'.azer. 7'j 9300 .. Am Ship & Cem. .. 23 U 2600 . Am Sme't 64 600 7 Am Smelt pf . . ..101 H 100 6 Am Smelt Sec A . . 98 100 i: Am Snuff 140 2100 3 Am Steel Foundries 44', 100 . Am Sugar Kef.. .. COli 100 . Am Sumatra . .. 38Ja 1000 9 Am Tel & Tel 1 24 e 8000 . Am Tel & Tel rts... 4i9 !00 12 Am Tobacco 162J4 100 C Am Tobacco pf newlC4 100 12 Am Tobacco H ... 158 Ji 400 . Am Wntrwks 6 pf 54' 2400 7 Am Woolen 102t4 900 Am Zinc Ld & Smelt 19Ts 200 . Am Zinc Ld & S pf. 54 9500 . Anaconda Copper.. 531 50 Ann Arber pf .. 44 5, 100 4 Asse Dry Goods 61 2 J00 C Asse OH 1 27 A 800 Atch Tep & San Fe107H 100 5 Atch Tep & S F pf 92 ''i 25 20 Atl Refining . ..1405 500 7 Atlantic Coast Llnel231i 100 . Atlantic Fruit. ... 2 200 Atlantic Fruit ctt . ' 1 Tn 6J0 12 Atlas Powder ... .160 100 .. Aute Sales Cerp pf MVi 300 . Austin Nichols 364 4600 7 llaldvvln Locemotlel38ii 1200 H.iltlmere ft Ohie.. 551b 100 7 Barnett Leather pt. 96 6700 Uarnstlnll Class A.. 39'4 300 .. Hiimsdall Class 11.. 25',2 700 4Sc Beechnut Pacltlnt;. 44(4 1000 Beth Steel pr new... 100 14 90 . de Odd Lets 100 100 5 Bethlehem Steel 75' 1500 C Beth Steel B 77'j 100 8 Beth Stel 81 )if 113 200 . Beeth Fisheries. .. 8 4300 8 Broehlvn Kdlsen. .124 5000 .. Bklyn Rapid Transit 10H 1400 .. Bklyn It T ctfs 15'a 1200 S Bklyn Union Ons ,117 5a 100 ie Burns Bres 135 200 2 Burns Bres B ... 40 J., 700 Butte Cep ft Zinc .. 7?J 3400 . Butte ft Sup Cep... 34 Ii 500 0 California Packing. E3J5 1600 California Petrel... 64J'a 800 Cal Zinc ind Lead. 9 ',4 400 3 Cnlumet ft Arizona. 0HJ 2300 10 Canadian Pacific. . 149H 200 3 Canada Southern... 56 100 Case J I Threshing 37 1200 . central Leather 41 ft 830 . Cen Leather pf. 80ft 5300 . Cerre-de-Pasco .. 41 'a 1600 0 Chandler Meters... 64 H 3600 4 Chesapeake ft Ohie 7G 900 6' Chesapeake ft Oh p105 . . rhl ft E III J!5 . . Chi ft 13 111 (new) pf 62 . . Chi Mil ft St P 32?i . . Chi M ft St P pf. .. 51 H 5 Chi ft Northwestern 92 7 Chi ft N'orthwest pf. 123)4 4 Chlcace Pneu Teel 87 . . Chi P. I ft Pac 45 '4 r, Chi P. I ft Pc f. pf 92!i 7 Chi U I ft Pc 77e pflOO jp"i n Hint 9 07fl1 S.l'lfftl 01 .7tl iJH U. S. Certificates and Treasury Notes i Int If nti. x34 l"t xt'Oi IVc tti. Mur tMS June. 3 Hi-n :. June t',i, t'D t'Pl Mir t 1' tMV Maturlnn Dan. 1UJ2 1(122 1021 in.'t 11121 111 2 4 I"!! I 102-. HUH 1I12H Hill lllll J3? ill Miir HfP , ' Executive Available Man of extcnslve eiiwrlence In IgiUea Management and Business nnlsatleu la available for new UajMfiectlen with greater opportunity, ) S01, Leaner i Kin 1 inn me 102'. 112 Ui'iS 101 100 xllxi hutiin ab it un 11 fjrthr m.tlu t... t'tilteil Htx.tea Ueiernmenl 4H . due Ucleb-r i.i twit: nnipt from ledernl nermnl lncnm tax tAtvrplable for Imyniint et Incurr.e tux due ue ilntc tit muturlty. DAR SILVER Pomntle bur allyer vvat unilintiKeil In Naif i yific ir nni nvneat rnrcirn Vkk.'l VliU liiel-IH lu'i .1.1(1 100 Mil i 4ii , loe l.ni a 04 ' ion MO a 07 I i"J' in 1H2H 4 17 mi ( ;e Kll V. 4 "'I 100 1.10 4 23 100 900 4800 2830 600 200 400 1800 403 100 6800 1100 300 6700 100 100 200 100 400 503 100 1030 400 6403 100 3030 1200 7630 4030 1003 100 530 100 400 630 633 333 933 203 3500 3300 3400 100 100 800 400 330 1000 6330 100 100 800 200 300 5933 200 1530 100 100 1500 1103 6930 200 100 2200 400 100 300 103 3603 i, 1100 100 100 1700 1400 100 100 100 200 200 1700 800 1200 100 100 200 100 400 2300 2000 1700 400 1100 100 300 2300 100 tee 100 200 Chile Copper . ... 2Sa .. Chlne Copper ... . 29ft . Cluett-Peabody ... 63 4 Coca-Cela . . . . 81 'a .. Cel Fual ft Iren... 33 i 3 Cel ft Southern 49 ft 4 Co'erado ft Se lit pf 62 4 Colerado ft Se 2d pf 59 C Celum Gas ft Klee. .I09?4 felum Oraphaphene 2 A . Cel Graphaphene pf 11 roiuel cigar . . . 40 ft . Consel Dis Inc ... i 5 Consolidated Gas.. 141 .. Consel Textiles 11 . Continental Can 96 4 Cern Products Bef.l25 4 Cosden ft Ce 49 ft . Cerden ft Ce rts . . . 1 H . Crucible Steel. ... 88 7 Crucible Steel pf.. 96 . Cubnn Am Sugar... 23 ft 7 Cuban Am Sugar nf 98 . Cuhn Cane Sugar. . . 14ft .. Cuba Cane Sugar pf 39ft .. Davisen Chemical.. 4DU .. Debeers C Mln Ltd 24 ft 6 Del Lack ft -Vest...141 ft 8 Detroit Edisen 113 2 Iome Mines 391 5 nastman Kodak new B7'i 3 dec Storage Bat... 56 ft 6 Kndlcott-Jehnson .. 85 7 Endlcott-Jehnson pf 1 1 6 . Erie 16' j . Erie 1st pf 25 ft . Erie 2d pf 19ft 2 Exchange Buffet.. 31ft 8 Famous P'ayers L .101ft 8 Famous Players pf.103 6 Fed Mln ft Smelt pf 59 10 Fisher Bedy 145ft 8 Fisher Bedy of O pf 95 ft .. Flak Rubber 13ft . Frcepert Texas.... 26 3 Gen Am Tank CB .. Genernl Asphalt.... 65 fi General Cigar 80 7 General Cigar pf,..IOS 8 Gen Electric. . . 185ft . Gen Elee TV I pf. . 11 . Gcncrnl Meters . . 15 ft fi Gen Meters dch C 84 ft 7 Glmbel Bres pf. .102 . Goldwyn Pictures . 7 . Goedrich B F ... 34 ft 7 Goedrich B F pf .. 86 ft . , Grtinby Mining . 3i i Gray ft Davis. .. .11 7 Great Northern pf . 94 U 4 Grt North Ore ctfs 39 ft . . HablrBhaw Electric 1 j . . Hendee Mfg.. .. 23ft . Housten Oil . 87 ft 2 Hudsen Moter Car. 21ft 1 Hupp Moter Car . 22 Hydraulic Stee, .. . Oft 7 Illinois Central. . .. 114ft 6 III Cent pf A 115ft . Indlnhema. Uef. . 4', Inspiration Cen Cep 40 ft . Inter Cen Cerp . H . . Inter Cen Cerp pf . 1 ft . Inter Agriculture O' Int Great North vvl 24 ft 's Intemat CVment . . 32 5 Int Harvester new. ,109ft Int Mer Marine . 15 ft G Int Mer Marine pf . 63 ft .. Inter Nickel 17 ft , , International Paper 63 . Invlnclb'e Oil Cerp. 16 tf . Iren Products. . . 52 . . Island Oil . Jewel Tea.. . 20ft 4 Jenes Urea Tea 52 ft . . Kansas ft Gulf ... 2 . . Kan city Southern. 24 4 Kan City Se pf ... 58 .. Kayser ft Ce new.. 45ft 81 H 19 54 62 ft 15 194 05 113ft 52 99 ft 37 ft 80 ft 41ft 113 7Ms 110 ft 192 121ft 6ft 26 ft 155 72 ft 113ft 36 12ft 100 40i 133ft 49 120 7 2H 62 101 98 148 44 ft 80 ft 38ft 123 4 162 164 158ft 54 101ft 19 52 ft 52 44 61 123 107 ft 92 ft 1400 123 2 Hi 153 12ft 36 ft 137 56 96 37ft 25 ft 43 ft 100 100 75 ft 7G 113 7 119 16 14i 116ft 135 47 Y 7H 33 ft 83 64 9 60 ft 148?4 54 ft J7 41ft 79 ft 39 ; 63 U 75 ft 105 39 ft 61ft 32 51 92 123 87 44, 91 M 100 25 28 ft 63 79 H 33 ft 49 ft 62 59 108ft 2ft 11 40 H ft 137 11 94ft 124ft 49 ft Ha 88 96 22 K 98 14 ft 39 44i; 24 140ft 112M 39 ft 86 ft 54 ft 85 H 116 16 25 18H 31 99 K 103 59 143 95 13 ft 25 68 64 ft 80 108 183H 10 15 84 ft 102 7ft 34 86 ft 31ft II 94 30 W IH 23 ft 86 21 22 H 6 ft H4ft 115ft 4ft 30 ft 1 B 24 hi 32 109ft 15 62 16 62 H 16H 51 ft H 20 ft 51 2W 24 58 44 ft 1 !tr Nat P. M. Chie. 01 M H 19 Vx 54 62 ft 15 - Hi 85 ft 4- 115H 52 -99 ft-37ft-80ft 42 ft 113 71 Vi- 110ft 102 - 1?.1ft - 6ft- 7Gft- 155 -72K 113ft 36K 12ft 100 - 40- !i 133ft- Vi 50HH 1ft 121 ft 1ft 7 .. 23 ft Ha 63 101 H-r IH 98 - ft 148 - 44 .. 80 ft 30ft -162 -164 -158ft- 54 ft f 101 - U H 14 2 Mi ft V2 M ft ft H 4 ? 1 niv SaIm in I 19ft H4 'ft lft 6ft ft 9H Vi " X Hi 1 HTOC1C With Kclly-SprlngfleM ..44 ft . ICennecett Copper.. 35ft . Keystene T ft It.... OVa 7 Krcsge .1 S 1.179ft 7 Laclede Gas of St L 90ft , Lackawanna Steel.. 84 ft . Lake Erle ft West.. 35 H . Lake, Hrlc ft West Pf 75 ft 2 Lee Rubber 26ft 5700 3ft Lehigh Valley 71 H 1600 3ft Lima Locomotive... 60ft 4100 .. Leevva Inc 2?. 500 1 Left Candy 12H 12 Ixrlllard (Pierre). .173 7 Leulivl te ft Nash.. 144ft . Mack Truck 58 ft . Magma Copper 34ft 7 Manatl Sugar pf . . . 01 .. Malllnsen Ce 35 7 Mnlllnsen Ce pf . . . . 96 7 Manhat Elev Guar. 53ft .. Manhat Elev ctfs... 524 2 Manhat Shirt 47 ft .. Mnrket St Rwy.... 7 .. Market St Rwy pf . . 36ft 6 Mar St Rwy pr pf.. 69 .. Mar St Rwy 2d pf . . 22 ft 4 Marland Oil 39 2 Martin Parry 29 ft .. Math Alkali 49 ft .. Max Meters Class B 18 1 Mclntyre Mining... 17W 12 Mexican Petre'cum.210ft 6 Mcx Scnbeard 17ft 6 Mex Seaboard Oil ct 16ft 100 5900 300 100 100 200 100 200 100 200 300 200 2103 400 100 100 100 100 2500 100 100 303 100 200 100 100 2100 100 48200 4300 200 4 2 2 19a ft ft 14 1 !4 H 'ft Yi Y ft Ti '" I Vx H '' 9i Kal 54 1 ft ft ft V, 9a 'ft H ft ' v, 54 53 H 44M 61 -127ft -f 107 ft - 92 ft 1400 12J -2 1ft 160 -I 12ft 36 ft 137ft 56 96 - 39ft 194 25 ft 44 100 - 100 75 ft 77 113 8 123 117ft 135 47 94-f 7-r 34 ft 83 -64 ft 914 4 61ft 148 94 56 37 41ft 79 ft 4 41 -63i-75ft 4- 105 4 39ft 4 62 4 32ft 51 92 ft- 123 -87 4 44 ft 91 H 100 4 26 ft 4 29ft4; 63 81 ft 4 33 ft 49 ft 62 - 59 109? 4- ft 2ft t 11 - ft 40 M 4- 9i 9s 139944- 1'a 11 4- i'. 9494 -1241 - 49ft-19a-88 ft 4 96 224 98 -14ft . 39 ft 4 444 -24 141 112K4- 39 ft . 86 , 94- 116 16ft 25 18H 31 ft 4- 100 103 4 59 4- 144ft -95ft-r 13ft 25 -68 -64ft 80 108 185ft 10 94 -15ft 84 ft 102 - 86 ft 3194 11 -94 ft 38J, - 1M 23 ft 87 ft 21 - 22 54 6ft- 114ft 94 ft 1 8H 109ft (. 15 ft 62 ft 4 16ft 52 94 2014 52 ft 1 94 294 ft 24 ft 58 45 ft l- ?i 3100 1.20 Middle States Cerp. 1394 400 2 Miami Copper 28ft 4500 .. Mldale Steel 3494 300 Mln ft St Leuis new 9 1600 . Me Kan ft Tex (vl) 17ft 1100 .. Me K ft T (vvl) pf. 46 600 .. Missouri Pacific... 22 930 . Me Pac pf 60 1400 3 Mentana Power.... 75 100 7 Mentana Power pf.110 100 .. Montgomery Ward. 2194 1700 1 Moen Moter Car... 17ft 100 ft Mether Lede Mining 10 4700 7 Nat Biscuit 224 200 7 Nat Biscuit pf. ..1244 100 .. Nat Cleak ft Suit... 60 200 Nat Cen ft Cable... 194 4700 . Nut En ft Stamp... 674 100 7 Nat En ft Stnmp pM03 330 Nev Cen Copper.... 1594 100 7 National Lead pf. . .114 200 C N O Tex ft Mex... 01 Te 1600 .. N Y Air Brake 40 12600 5 N Y Central 10094 100 fi N Y C ft St Leuis.. 90 94 200 6 N Y r & S L 1st pf!02 6800 . New Yerk N II ft H 32ft 100 2 New Yerk Out ft W 2594 100 . Norfolk & Southern. 16 3500 7 Norfolk ft Western. 122ft 100 1 Ner ft West pf 82 400 5 North American 9894 600 3 North Amer pf 4694 200 .. North American rts 27 ft 000 5 North Pacific 8794 600 .. Oklft Pred ft Ref... 2ft 500 .. Orpheum Circuit... 25ft 100 .. Otis Steel 11 100 2 Owens Bet Mach.. 40ft 1100 5 Pac Gas ft Elcc U7ft 100 . Pacific Devel Cerp. 294 19200 3 Pacific Oil 58 200 . Pacific Mall 14ft 28500 f. Pan Amer Petrel... 94i 24000 6 Pan Amer B 91ft 1100 2 Pennsylvania R R.. 48ft 500 .. Penn Seaboard Steel 44 200 5 Peeples Gas Chicago 97 ft 300 . Pere Marquette.... 38ft 2600 2 Phllllpa Pet 51ft 200 3 Philadelphia Ce 42ft 500 .. Picrce-Arrew Moter 13 ft 100 .. Plerco-Arrew Met pt 35 1100 .. Pierce Oil 6ft 500 .. Pierce Oil pf 47 ft 1700 4 Plggly Wlggly Stere 44 100 . Pitts Ceal 60ft 100 6 Pitts Ceal pf 100ft 100 .. Pitts ft W Va 38 000 B Pestum Cereal 11894 200 lft Pend Creek Ceal... 204 200 .. Pressed Steel Car.. 90ft . Producers ft Ref... 48 7 Producers ft Ret pf. 44 ft 8 Pullman Ce 13094 Punta A'.egre Sugar 47 a 14 114 ! ft I ft Vn ft ii "ft ft H 194 ft "' "94 ft Vx 1 1 4ft ft ft I'a 14 i 'A ' 294 ft ft Vx "h 1 1ft 14 14 VA V V, ft 1700 300 403 800 1100 Pure Oil 200 3.41 Rand Mines. 31 35 ft 14 ft 59 ft 81ft 59 Ja 1000 .. Ray Cen Copper.., 300 .. Repub Iren ft Steel. 3000 4 Reading 6600 3 Reynolds Teb B . . , 100 7 Reynolds Teb pf... 118ft 200 .. Republic Meters.... 2!i 1700 4.13 Royal Dutch N Y.. 50ft 200 .. St Leuis San Fran. ' 8 94 100 .. St Leuis S Fran pf. 50 200 . . St LeuIb Southwest . 34 94 830 .. St L Southwest pf.. 54 ft 600 .. Savage Arms 10 2600 .. Saxen Moter 3 94 900 . Senbeard Air Line.. 6H 100 .. Scnb Air Line pf... lift 100 .. Seneca Copper 0 100 155V Shell Transport... 37ft 200 6 Shell Union Oil pf . . 934 2 Sinclair Consel 35ft 8 Sinclair Cen pf 101ft .. Skclly Oil 10ft . . Sloss-Sheflleld 49 ft C Southern Pacific... 96ft . . Southern Rail 264 C Southern Rail pf.... 71 . . Spicer Mfg "0 8 Standard Mill 129ft G Stnndard Mill pf . . . 95 4 Standard Oil of Call26ft fi Standard Oil of N J215ft 7 Stand Oil of N J pf117ft 7 Steel Tube pr 82 3 Sterling Products... 56 10 Studebaker 1 Je ft .. Sub Beat Cerp 7ft . . Superior Oil 5ft .. Sweets Ce of Amer. 2ft . . Temt Cern ft F "A" 94 3 Texas Ce SO ft 4 Texas Gulf ft Sulph 63 ?4 .. Texas ft Pacific. ..30 94 1 Tex ft Pac C & O. 76H 3 Tlmken Rell Br . . 34 ft . . Tobacco Products . 63 94 7 Tobacco Pred A ... 07 .. Tel S ft L & W 75 . . Tel S ft L ft W pf . 62 . Transcontinental Oil 14ft 0 Union Bag ft Paper 71 4300 200 1930 300 5200 900 5100 230 100 15 150J 10300 200 100 100 16400 200 300 700 100 8800 2603 100 1400 9500 1930 7300 100 100 1400 700 200 1000 500 100 500 100 6100 400 2700 400 2500 300 1500 500 .. Union Qll 18ft 10 Union Pacific 152 4 Union Pacific pf 78 ft 2 United Al ey Steel 37 8 United Fruit. 155 . . L'nltail Rwy Inves 14 . United Retail Stores F3ft U S C I P ft Fdy 33 ft . U S Feed Products, ..US Heffman .Mach ..US Ind Alcohol ..US Realty ft Imp . ..US Rubber U S Smelt ft lief if 22 71ft 86 57 43 ft 200 3ft U S Smelt It cv M pC 46 ft 28300 BUS Steel . ,110ft 7200 2 Utah Copper .. 68ft 200 .. Utah Securities . 20 'i 100 .. Vanadium Cerp .. 4594 300 . . VaCar Chemical . 27 ft 100 . Vn-C..r Chem 11 10 ft 100 G Va Iren r ft i" pf 02ft 200 , Vlvadeu Inc ... . 12ft 400 ,. Wabash .. . 12ft 200 . Wabash pf A ... 32 ft 5400 fi We.ls Farge E.p .. 97 200 7 Western Elec pw ,110ft 2100 .. Western Maryland. 15 100 .. W Maryland 2d pf. 23 200 .. Western Pacific .. 17 94 200 C Wcsturn Pacific pf, 61 100 7 Western Union Tel 117 100 4 Wcstlnghoufe A Br 09 1100 4 Westing I! & M.... 63ft 100 . wneellin' ft I. E. .. 129. 1Z00 2 VVIille Mtgle Oil 200 .. Whlte Oil Cerp. 300 . Wlcklre Spene nil 1100 .. Willys Overland 400 . . Wilsen ft Ce ZOO 7 Woolworth K W pf.125 100 . Werth Pump ft M 30ft UvJ 1 titiHiiv anu Ui 32 6ft lift 614 45 E.villvlilemW I)W 44 ft 34 814 17914 90 ft 84 ft 35 94 75 ft 26 ft 70 4 60 2194 12 ft 173ft 144ft 50 3314 01 35 96 53 ft 5294 4694 7 36 ft 6094 22 ft 384 29 ft 49 ft 17 1794 210 164 16 1314 28 ft 33 14 9 1794 46 2194 59 94 74 110 214 17 ft 1094 219 124 60 194 b6 94 103 154 114 814 38 94 9914 90 94 102 324 25?4 16 122 82 98 94 46 ft 27 ft 67 214 25 ft 11 40 ft 8714 24 56 ft 14ft 92 ft e9ft 484 494 97 ft 3894 51 42 ft 13ft 35 6ft 45 43 ft 60 ft 100ft 38 94 116 20 ft 90 ft 47 ft 44 130ft 47 ft 30 35 94 1494 59 ft 0 94 58 94 118ft 2ft 50 ft 20 ft 50 34 53 ft 19 ft 3ft 694 lift 0 37 Vx 93 94 35 101ft 10ft 49 ft 95 ft 26 ft 69 ft 20 129ft 95 125ft 212 117ft 82 50 134?i 7ft 5 94 2ft 94 50 94 63 30 H 2594 34 62 ft 05 ft 75 62 1494 70 18 ft 151 ft 78 ft 37 153ft 14 02Ji 33 5ft 2194 70 ft 86 56ft 43 46 109ft 67 s 20 94 45 94 26 ft 18ft 02 ft 12ft 12 32 94 93 110ft 144 23 1794 CO 117 99 b2 94 1294 31ft 6 94 1194 OH 44 ft 125 30 ft 1094 1.11 r. M 44ft- 8ft ft 84ft 35ft 75ft 26 ft 7194 60S 21 14 144ft 14 Nfl Chite. Vx 94 V Vx 14 ft 4 V ft LOCAL TRADING TifflraWiilfflirrfr mmmmmmmtmmmm HMMM WAS SPECIALIZED 14 ft 3 94 1 '"?4 2 V 1ft V 14 14 14 ft 94 5014 33 ft 81 -35 96 f 53 ft 52 94 47 ft 7 -36 ft 69 2214 30 94 29 ft 49 ft 17 1 ! 210141194 16ft 14 16ft 94 13ft 28ft 34 ft 9 22 f 59ft 74 110 2194 1714 10944 224 6 1244 294 1 ft ft 94 2 ft 2ft 14 I 14 ft 4 94 14 ft "94 " V 14 Vx 94 2ft 14 ' ' 14 94 "94 " V Cisenlehr, Electric Storage Bat tery and American Gas Advanced Sharply 14 1 60 14 67 94 103 1594 114 - 81ft- 39 ft 10094 I 9094 14 102 3294 122 -82 98 ft 87 - 2ft 25 ft II 40 ft 87 ft- 294 5714 14J4 93 90 4 4894 494 94 51 ft 42 ft 13ft 35 694 60ft- ft 100ft 94 3094- ' 117ft 2ft 20 90 ft -48 44 -130 94 47 ft 4 30 ft 35ft 14ft 59 ft 60ft 58 94 1 1 8 ft 2ft 58 ft 28 54 50 34 -54 19ft- 394- 694 1114 8 37 ft- 9394 35ft- 101ft ft . 95 94 264 70ft 20 129 ft 95 125ft . 214ft 117ft 82 -56 13614 2ft -30H 25 94 34 ft- C294 86 ft 75 -62 I4ft 70 ft -18ft 151ft - 155 14 02 ft 33 -7ft 22 71 -86 -56 94 43 46 ft 110ft 67 94 20 94 45 94 I-26M-10ft-82 ft 32 94- 95 ft 2ft 110ft 14ft ft 23 1794- 94 60 ft 117 99 62 ft 1 124 31J4 Oft 119a- C 44 ft 125 - 30 ft- 10ft 1 Dealings In the local market were of n mere specialized clinrncter than observed in n 1""?. lm( r,J,HA hVv ever. seeniR le be the nrdcr of tlie day In till the security markets. While In (Keating n regrettable lack of united front and narrowing of both speculative- nnd Investment buying, yet indi cates the existence of n powerful body of flnanclnl interest", who by enncen enncen ntlen of onerntlens ran de pretty much as thev please. These scleted demon strations, however, rather than Inciting the speculative Imagination serves te ... ,i...l,IUt mnntii. tlin rnnlc mill liroineie iiiiuiut. ..... ....r ...v ....... ...... file, mere especially in view of the fart, such Individual demonstrations nrci either confined te known clescly-hcld rtecks or lisues seiunc nt prices pro hibitive te ventures by the smnller In the category of closely held stocks. Elsonlehr was once mere an oiitKtand eiitKtand In? feature. There Is only nn infln Itcslmnl nmejnt of that stock free en the market. Consequently It can and has been marked up with surprising ease. Twe ir.ere pelnti were nddetl te the recent forward movement today, while the preferred was raised n point. Inside Interests emphatically declare there are 110 ncfrotlatlens under way" or contemplated for the pnssinjc of the con trol of the cempnn yte ether tobacco Interests. On the street they tell nn entirely different story. It Is n ques tion of vetnelty en either aide. l'lectric Sterape llnttery, after re maining dormant for some days, attain sprang Inte prominence after mid-day, In nn cecitltiB and perpcndlculnr rise of 2 peintH te 57, or within n & point of the high record price. The trading wns very lively, but the lar(tcf.t end of the same was plnved en the Blf? Beard. Pennsylvania Rnllrend was it con sistent strong spot with evidence of accumulation around 48'i. A geed size amount of stock changed hands during the day, unquestionably for In vestment, nnd which wns Influenced by the confident belief of n restoration of the (1 per cent dividend by the beard at their meeting next week. The bii.ving mevefent In U. O. I. was net resumed nnd the stock was al lowed te fall back a half point. An erroneous impression prcvnilcd en the street that the Bldctracklng of the movement was due te the death of one of the local political leaders. If reli able information is trustworthy the plans and developments heretofore nl luded te had no connection whatcvevr with the political ntmosphcre of the cetnpanj's affairs. 1J4 ft 94 14 94 Vx Vx ft ft ft 1ft 1'a 14 ft 'A 94 94 Vx 2 94 ft ft Va V 1ft "l4 14 94 94 Philadelphia Stocks rs nt .5 Vi 70 e. 7dj 80 0!) Hlirh low 131 Am Ons.. 70 71 25 Am Uwj s pref.... nrcK fiOtAniicendn 52 100trh& Alten 2 100 Cen Tr N.T 51 OlOKIee Ster. 57 lOOtKennecett XiV 3.10 I.eh Vtil.. 71 Vi 5O0t Loews Inc 22 ((North Cen. 7!)'i 400 O Klsenl'r Mj 00 de pref.. 00 100 I'enn Cent Light pf. 57 57 110S l'ennn II It 4ft 4S?i 5 l'ennn Salt 82 82 35 I'hlln Ce cum pf.. 42'A 42 lGOHiila Ic 31 a, 31 Vt 115 de pref.. 31 31 215 Philn It T 33 33 300ltendlnB.. 81 Vk 81 lOUnienTrnc 41 Vi 41 SOU (J I.... 53 53 Vi 40 de pref. . 511 511 105 W Jer&S. 30 30 l:l Net P. M. chge. 70 5 Creditors are likely te only think of the Ban k r uptcy div id end at time of failure. De General Creditors Experience Greater Less When Their Customers Who Sell Accounts Pail It's all a question of honesty t If your cug temcr is honest he will pay his Creditors Iho money he receives from the sale of hl Accounts nnd thereby ewe you that much less money thnn had he net sold hlu Ac- counts. Therefore, the payment von . celve from the sale of his Accounts, together with his Bankruptcy dividend, If he falls, should certainly net be less than the Bank ruptcy dividend had he net sold Accounts and previously reduced his indebtedness te you. ' If your customer is dishonest, he can make you or his Bank a statement and secure credit or cash partly en the baBls of his Accounts Receivable, and immediately tW. after offer his customer a sufficiently large discount te secure Acceptances or Cash Jiaymcnt and then cash such Acceptances ust as well, if net easier, than his Ac counts and both without your knowledge. If dishonest, he would misuse the money from one source as quickly as another "false in one, false in all." Business concerns are encouraged by Credit Interests te close their Accounts into Ac ceptances and te keep their affairs mere liquid by turning same into cash and yet no one knows of such transfers except the Beiler and purchaser of said Acceptance neither Debtors nor Creditors are noti fied; just the same proceeding as where Accounts are transferred te us en our "Nen-Notification" plan. An Acceptance is only an Open Account closed. Certainly general Creditors would have the same less if their Debtors cashed their Acceptances and misused the money as if they sold their Accounts and did se if net, why net? Bimmniuiiiiiinn Commercial Credit Company Cash Capital nnd Surplui $7,250,000 BALTIMORE SAN FRANCISCO Represented at Philadelphia, 1210 Stock Exchange BIdg. (Phene Spruce 6514) Affiliated with COMMERCIAL ACCEPTANCE TIIUHT COMMERCIAL CREDIT, HSC. Cnah Capital and Surplus $1,(100.000 Caah Capital and Surplus 1800,000 CHICAGO NEW ORLEANS liB 50y, 50 lVi 52 02-1J Vi 2''U 214.. 51 2 57 1 35 71 ie Vi 70 -li 81 Z 00 37 .. 48-t S2 .. 42 .. 31 33 4 81 -r 53 Vi 50 . . 30 .. 4- i lit clMilend ncMdlnc common. $1 tNct chance mniln by compnrlei with last wilt! en New Yerk Stock Exchange. PHILADELPHIA PONDS 2000 Liberty 2d -IVJh 00.03 100 Liberty 4tli 4Vis 110.20 5000 Liberty 4tb 4iH 011.00 5000 Victory 4s '23 100.24 50000 T S Treasury 44 100.00 2000 U S Treusnry 4V,h 100.04 3000 Amer Gns & Klectric 5s. 89 1000 Hell Telephone 7h 108 1000 Hell Telephone 7s 10SV& KMM) ("cm Trac X .1 5s S3a 3000 Llectlic & Pee Tr 4h ctfs 70 2000 Lehigh Val Trail lt 4s. . S0'j 50(H) Market St Klevnteil 4a. . . 80 1000 Pennsylvania It It sen 4n 02 200 Phila Klectric lbt 4s 83 3000 Phila mectrie 1st ! !lfla 2000 Phila P.lectrlc 5s 102 A H V 'A !i 1 1 IK W Vx 9 " 'A V 1 114 'A Vt V Vt A S FOREIGN EXCHANGE New Yerk, Oct. 17. SterlinK opened ',s cent higher In the fnrclKn exchange market this morning at the recent high recenl. Praties were down 2Jj, Hel clans down V.. lire un 2Vj. Swihs down 2, m;setas down 1, iJauish up (!. Xerwny down 7. Swedlhh un 2. Kuilrierh down 3 and ninrks unchanged. Norwegian Is new only 1 point above Snttit day's final, anil show n less of IS points from Mondays high, which wuh reiuhed incidental te the lean operation. The htrength of stet lins. In addition te the .$50,000,000 In tereM pn incut, reflects the continued arrival if geld for the account of the Hrltlsh (Jeveinment. Husinesw for the most pint continues en u professional character. Opening limitation were: Sterling cables 4.41. demand 4,43; franc cubles 7.50'i, checks 7.411 ; Helgian cables i.OOVj. checks 11.1)9 ; lire cables 4.22, checks 4.22; Swiss cable- 18.4(1, checks 18.43; peseta cables ifi.ai, eiiecKs iti, an; 111.11!). cheeks 10.01; 18.15, checks 18.10; 2(1.77. checks 20.72: 3S.05. cheeks 3S.H0: marks .03 0.10. New Yerk exchange In Mentical to day was nueted nt a discount uf it te 5-32 per cent. Canadian fumk in Xcw Yerk were quoted nt a premium of ' 'M te .)-. per cent. YUbTr.RDAY'H CI.OSINO QUOTATIONS StiTllriK Prunes Lire (lulMera n-mnnu . .4.41. T SI h 4 111 H as III Cab ob . . t 43'. " M 4,20 SS.UT TODAY'U OPIJ.S'I.NU QL'OTATIOys HlLrllrtic 1'rniicn Lire auiir.rM DfmKtid 4 43. 7 4(i, 4.'.-a : Is iin Unburn 4 44 i.'iinl 4:", as uj Danish Norway Swedish guilder cables cables cables cables When New in Business Mere than anything else, a busi ness in its infancy needs straight-from-thc-sheulder, sound, financial advice and the background of a geed bank. We welcome "new" business accounts and give them the full benefit of every phase of our serv ice, for we realize that, properly guided, these infant businesses may be the leaders of tomorrow. One special point wc stress is te keep the bank deposit always above a certain vet level a "Safety Line" the observ ance of which has helped our depositors. CODTINCNTAl CQUITtail line ataust co Who Serves Most Profits IB , most j CONTINENTAL EQUITABLE TITLE w TRUST COMPANY Oiuelfih abevs Chestnut Capital $1,000,000 P Ml LA D E L PHI A Deposits Over $12,000,000 Surplus $1,000,000 ucaHi4 Yerk teilny nu v, e. err ' J-1CJ lewar at 33 rv?: e, lr Londen the erica wu DIVIDENDS DECLARED Iiallm Power mul I-1-'" f''mpHtu , ,'iur-t-rl , 1 per cunt en prtferreJ. ij'iyRi.lu Nu UinlVr 1 tu aiink t rucunl October 'JU, Idhe 1'ewfr Cemnn. iiuarnrU l ir bcth t,nable Nuwralx-r 1 te rteck of recenl ijctuU r '.'S Durham lleKlery Mllla eunrtcrly l,7,"i .in lir:frrei. iiiialilij Nu ember 1 tu uteck or rec Jul O.tebir Jil i.wlc ..f record Oolebfr IS Clilcirci WllrelnKtnn nn.l Krnnklln Ceiil Cemimny. quiirteri: bin s-.ii-mt'i" I ;'.', rt . '....ci, r v li.itu ui. uicirii-i. ui mpnriy. .iui;vV -.- f ........ 0(,i-i ,., Hri i v. "-;-,.-' , -,.-- ..-' l!'r ll". TrclW Mht .njl Syuble DecemUr 1 W .lock of 1'ewer Cam nury alurfa, riceiu uc- l.an TtAVh ,.,... .1 Kamend Mllla. quarterly of l'i per ..cent de IntinA w Vi er cent ea comiaea. MONEY-LENDING RATE8 te alx month.. H te tK cer cent. Iloaten NEW YOKK Meney en cnll. tmth clanier. ' I ilm l.'IWiU of collateral. epncl tedy nt n I'cr cent for . !; V'""1 ', ItndiiiK una renewing. AiluntH .;'.l .... ....... ...... "T".... tu. .... ,...IJ1'.,,lcri''H.. time. 4'A Di-r cent! cemmcrclul caper, three Mlnntape.la ,, tn tlv mnrithM XXL tn XVl uer CCnt, k.n... fltv Reserve Banks' Discount Rates I'nll leana iiirnlnt blll 5 per cent, Oiflilul re.lifieunt run a nt the tvehe 1'cil. rial Keai'r HuiikH lire at, fellnwii. Mb C.im'l IlKm. bun. la, puiHr, ucci pt rreia ctfa. . 4 . 4 4 4 I v. 1 I '? 4V1 4', 4' 8 LONDON STOCK MARKET Santlment Cheerful Oils Flabby and Quiet Rubbers Buoyant ' lyOllilen, Oct. 17. Dihjilti. the fort fert niKhtly settlement, oiienitleim in ycm. rllies KiMii'riilly were Inrrr tcilnj r-i'lltlineiit in elieeifiil. T,,. ,,u xrUp wiin llnlil). itml qiiiet Km nl llutrh wiih W'i, riliell TriinsMiit nn'il Tnnlliii! 17-UI. mul Mexienn Kuule, 1 m-111 Tim Bllt-i'ilRi'il lint mih hlniiiK en Hni.tx, Fil'ih'Ii luuiiH were dull, nwliiK le ic ii'fvliiiih in the fiiini', lli'ptirrlmM'H iniiile hnmc. milN (Inner Dulliif ili'MTljitleini were htemlier nn.i iiiiclimiKecl. Ilnlii for inustmeiiti i-ttt'iiKtlii'iicil Aruentlne inili. Siiine in iltiHtriitl weie Intnl. HinUun'h llnv ' wuh 7. Jtiibbfi-i. were biiejiini en riintlitui'il liiipruvi'inciit In tlie citnle iirtlclu. ri.e feellns ln Knfflrs wns geed, but chaniftn were narrow. " v. v. or They knew all the places where their victims could possibly hide valuables the hole in the closet fleer the tin box in the trunk and the rest of the list. Positive protection for your possessions may be assured by placing them in ene of our Safe Deposit Bexes. Our great steel vault is proof against burglars, nre water. North Philadelphia Trust Ce. Bread St. and Germantown Ave. Above Erie Ave., Philadelphia WE REBUILD OLD LOCOMOTIVES TO GIVE THEM MANY MORE YEARS OF LIFE WITH the resumption of general industry throughout th " country, the railroads will again be taxed te their full capacities. While new locomotives arc being constructed W the various railroads, large numbers of elder locomotives heavy enough te still de effective work, will be rebuilt " will give many years of efficient service. The important weri of modernizing locomotives is one of our specialties. THE BALDWIN LOCOMOTIVE WORKS Philadelphia i m& KlV --'-, ,i it
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