a r-v v( !. ti "Tr-wv ijjSbWHJiW f JAV V 22 EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, OCTOBER 19, 1922 '"f.'fH.S"' fr ' -" ' lyvJ-'-v.-.- - -. .-SVM'-'HV' -''" V """ IB a IS Strvtem and Stability The Industrial Development of our neighborhood hns bccome an assured fact. The clese proximity te the center of the City the supply of labor the nearness te the Delaware Elver Bridge terminus and the opening of Spring Garden Street te the River, nre all fea tures that recommend this vicinity as an indus trial center. We have nothing te sell but SERVICE; but we will be glad te assist you in locating near us by finding a site, appraising values, or insuring your title when purchasing. Integrity Trust Company Fourth and Green Street Capital $500,000 Surplus and Profit .. .$1,900,000 E MOVEMENT HIGHLY FEVERISH Market Snapped Back Sud denly General Reaction Seemed Imminent r: Why Cities Service Ce. 6 Cumulative Preferred Stock !s Especially Attractive The net rarnlnfrs of thr Company haw shown -teadv Improvement during last 12 months The Company's financial con dition Is no Kreatly Improved that a plan has been an nounced for a f 3 nnn oeo reduction n It ilrhcnture debt life Spptcmrx r IJ.'. We recommend the purchase of this stork as a conserva tive investment Present Yield Over 8 ie Send for Circular Henry L. Doherty & Company GOt Merris Building, Philn Pa. I'henr Spruce Ti',5 We Specialize in Portland Ry, Lt & Pr Common & Preferred Tennessee Elec. Power Common & Preferred Republic Ry & Light Common & Preferred Cem V!th Pr. Rw & Lt Common Preferred Gilbert Elieit & Ce. t.'tnieti Ktn Tet Sieck Ei:hieit 26 Exchange PI. Bowl. Gr. 0290 INDUSTRIAL de mands and individual necessities require that there shall be no inter ruption in the supply of electricity for power and light purposes. We recommend in vestment in the con servatively issued se curities of this stabiliz ed and necessary indus try, many of which are Free from Lecal Taxation HARPERS TURNER Investment Danker J in Tit- ilUdepiUi StecA OtthenU STOCK EXCHANGE BUILDING New Yerk. Oct. 10. Thp two hie news pvents In thr flnnnrlnl world today was the big blew-up In the nticllsh pelltlcnl situation, with the roslRnntien of the Lloyd (icorge Conlitlen Cnblnrt nml the nnnounrement of the pronesod bi(t railway merger in the Nerthwct i with the consolidation of the limit I Northern, Northern I'nrifie and the Chicago, IJurlingten and Qutncy. The (deck market was kept In n feverishly churned condition, with price plung ing upward and downward In a most confusing manner, but net because of any influence en part of these events, but merely as result of the growing vigorousness of the content between the trading ferrcs for Fupermacy. It looked for a time during the morn ing operations as if the entire list was booked for a reaction of considerable dimensions. There was a startling crumbling of prins In all directions ami support of the constructive appeared te have been withdrawn. Very positive weakness cropped out in widely scat tered parts of the list, hut suddenly, without any convincing or centdstent rcaen, the whole maricet snapped hack again just before midday was reached. Net only were the earlier recessions re gained, but in meit instances prices by the familiar strong-arm methods were jerked back te and above last night's closing level, with quite a few prominent recognized peel Issue waking new "tops" for the year. The resignation of the English Pre mier and Ills (.'nbinet was net altogether unexpected, nor was the big railroad consolidation fresh news. Hints of the latter conference had been in the nlr for several days, and today's announce ment was merely nn official confirma tion of the proposed merger. Others are expected, and possibly a gTcat .leal mere of this kind of news will be heard after next week, when the Interstate Commerce Commission starts hearings en the suggested transportation amal gamations. The abundant offerings which met the Initlul rise In various shares en couraged active celling by the bherf in terest, resulting in a large proportion of the list being carried down n point or mere below yesterdny's final figures. Particular weakness in oils, steels and loters influenced extensive profit-taking. Seme rather violent breaks oc curred in special stocks, netnbly in Liggett A. Mjerb. which dropped 11 peints: National Biscuit, eVj ; Amer .win Kxpress and Otis Klovater. 6 each, .Hid Pacific Oil and Davisen Chemical, 4 each. The market quickly steadied iMelf and many of the stocks showing soft ness developed pronounced strength and rallied with a geed deal of vigor. Nev ertheless, the trading was conspicuously perializiHl, with these selected stocks, licked up In a sensational manner for definite reasons pertaining only te these particular issues. Cern Products was an outstanding illustration in this con- ictlen. us also was the renewed nggres nggres s.ve bullish tactic-, In some of the lugh lugh iTired oils. The recovery, however, was helped te some extent by th marking down of the call lean rate from 0 per cent, the opening and re- icwiil rate, te 4 per cent. Commodity Markets GRAIN MARKET Chlcftse, Oct, lit. Wheat avernged ' igher in price today during the eurlj iiillngs, the chief influence being trength shown bj the Liverpool mar et in the face of declines estcrda n this h)p nf the At antic Repert-, however, thnt traffic congestion at Lake ports was being overcome and that ex porters were showing les nnxlet; about upplies tended te cheek bullish senti .ent. As a result December delivery I ere npnenrril -emewhat Inclined te drag .is compared with May and .lulv. The opening, which ranged from ' t' ) f higher, with 1 ecember Sl.ll's n $1.144 and .May Sl.l'J's te $1.13. sas followed by a moderate setback nn.j then by new upturns te above lnitiu. figures. Cern and ents paralleled the action . f wheat. After opening unchanged re W higher. December 07TsC te (iS'e h corn market fluctuated within a r.inge of abeur lc. Oats started Mc te 'Kie higher; Do De ember 41'Ktr te 41Tsc, and after light reaction rallied with ether grains Previsions were firm in line wltl. the hog market. Cern Prev ('les Oeen c. . . iw e,' em, (Wt Vuv ... (Is July . 6s WhOAt n(i. 09S l v v (17 t, 07. In May J jiy ' 'l ri..c May J i : 1 13 K 1.124 1 044 414 42 3'i I PI.! 1.1IH C? l.l'J'a It 1.0B & 41i O 43Vi S0V4 l.M': 1.13 1 0.14 41'. 1 13 1 151'. 1 H It". .',', Philadelphia .SfAfd ,1 L5EBS2d We Wish te Buy Suffolk & Carolina lit St, 1052 Tampa Union Station lit Si, 1940 Augusta Union Station l.t 4e, 1953 F. P. Ristine & Ce. Widcner Diiildinf, Pbiladclpkia aw Yerk Ellabeth. II. J. U$mbrt Ntw Yerk ami i'ftuuuclvfcta Stock Kiclxangn COTTON MARKET New Yerli, Oct. 111. The notion nrket wasi toss active rlii. nvrril'i,; 1 ! somewhat Irregular as first prices 'ievrcd fi points decline tu S udvu'-i-e '1 he early pressure emu. f-eni WnV Streer. the Seuth ninl !en traders ( Minmlssien houses were cm both i !e cf the lnnrku. MilU and Liverpen luiigiu, iiiiu a. soiling .tcsure was n nggresslve, the market later beeam erv firm, ndvincing ID c, l'J above opening l,'els Prflv (lf ' ',- -1 rlnhe' .... S3 77 W SO .. II.', 1 te ....mUir . .IS HSW Is 2S '; J mu.ir ... '!' liiifiu'i 2'i V 1 Mm a aae". 't j j-) rm M iv . .2-' K1 '1 1.1 03 21 no JuJtj- .... '.'.' di fi sU J2 7.1 Hlilll I I'll 21 .1 '2 .1 1 21 11 21 II NEW YORK COFFEE MARKET rprmtnr s'nbruery March . . . May ... July .. .. -ni'mlnr Hid. Yest, r'ms Ii 1H01S ll '8 . H n.l rd (.5 n oeoi . k s.i . 113 1 ip.-n 'i 2'ift2i 1 00 1 lulf I l 'i null 1 , s fin ."ij W ' ' -,-. ! I II .. r 11 Orders Executed ter caeh or en conservative mar. S" ill bails, In all iecurltlei listed the New Yerk Stock Bxchang. rg or small lets. McGLINN & CO. Aftmstra tfeut Yerlt Stock Kxchangt Title Bldg., Phllndelphla MONEY-LENDING RATES i:V Mlllli -lleney ;n rlu, u,lh cl i-s diatom! epnl (e.lay at s jcr ci,i f' r li'iiJinu nd rcnewlnr, rilllwMKt.l'HIA fu 14 ,r r, l m 44 Her (.fit. " mmircUl pirnr. thrH i mx month". 44 te 4 V lir J0V ,nrs Reserve Banks' Discount Rates Official rediscount rate .it th iv.v jj,. eri iK.fi,e w.iii,. i'i ni feunw Boaten S s Verk. . I'hlladrlphla .. 'rirv.ltnJ Itlchmand . . A tlnnta ....... 1 rtiicure Nt Umlii MmneaiiuMa Krtinan City 1 Dalla.!, San JTunclnce Tren. I.lb clfi. bend ..4 4 . . 44 44 ,4 4 ( em 1 ltkrn ppir accept. 4 4 , 4 44 44 44 4? 4?, 4 44 4' 44 1 4 NEW YORK STOCK EXCHANGE TRANSACTIONS Only Afttrnoen Repert in Philadelphia Quoting Fall List Sales 100 800 100 1200 tee 3900 100 1O0 500 100 100 100 21300 3J0 100 300 200 600 200 200 1100 100 400 100 7X 3103 100 100 200 3003 1433 300 703 100 1500 100 200 1100 1930 333 333 i233 30) 6-J30 100 100 21J3 400 200 100 1303 433 103 100 200 203 200 10000 100 7633 200 500 500 503 600 9500 303 1530 2100 333 103 3303 103 20703 503 100 1C0 2800 100 300 830 430 M00 1200 1033 2800 1C0 330 200 100 3130 3730 930 200 1600 100 200 100 2230 100 100 2530 430 100 330 4330 633 100 630 7333 630 2033 17330 7433 330 5133 3100 1703 230 830 1030 10930 503 1633 833 3233 933 1130 2833 433 1533 833 430 3530 133 530 2203 2033 4030 203 2j0 83'J 9 a) 57 30 200 100 500 100 1630 5833 330 130 100 20U 100 10') 100 16J0 1500 100 100 600 LS00 100 100 103 100 300 200 2U0 100 100 m 300 BOO 803 100 1600 '730 1500 1930 203 100 3)J 1 j) 633) 300 19)') 100 300 1400 700 1500 100 Dlv in f 4 STOCK Hlih Air Reduction 63H Alafka Geld Mines. H Alaska Juneau O M 1'i A lied rhem ft Dye. el Allied Ch ft Dye pt114 Allls-Chalmer 50Vi Am Hank Net 79 Am Hank N'ote of.. 53 Vi .. Am fleet Sujrar.... 44 6 Am fleet Suttar pf . E0 .. Am Hoseh Magneto. 42' 4 7 Am Car & Kdy pf . . 123 .. Am Can 75 ? 7 Am Can pf 1" 7 Am 13 Sh F pf new 11214 12 Am Car & Fdy 19' .. Am Cotten OH 26 W 8 Am Express 1S2' .. Am Hide ft Leather 14' 4 . . Am Hide ft Lcath pf T- 7 Am le 112 6 Am Ice pf 90'4 .. Am Intemat Cerp . 36 V 1 Am La France Bng 12' .. Am Linseed 39T4 6 Am Locomotive. . ..135 7 Am Loce pf 121 5 Am MetnlH -19 H 4 Am Radiator l- Vi Am Safety Razor.. 8 .. Am Sh'n ft Cem 224 .. Am Sme't 61 JS 7 Am Smelt pf '02 6 Am Smelt See A... 98 Vi 3 Am Steel Foundries 44 7 Am Steel Fdyd pf..1C6V4 .. Am Sumatra 28H 9 Am Tel & Tel 124J-. .. Am Tel &. Tel rts. .. 12 Am Tobacco 164 12 Am Tobacco B.... 160'i .. Am Waterworks .. i6h .. Am Watrwks ee p! -2 7 Am Woolen 'OUi 7 Am Woelenpf 11' .. Am Zinc Ld & S pf. E3'J .. Anaconda Copper.. 52 S 4 Aese Drv Goods... 61 C A sae D Goods 1st pf 8- 3 6 Ape Oil 121 Ateh Tep & San FeK6H 6 Atch Tep ft 3 F Pf 62 H 7 Atlantic Coast I.lnl'2'i . Atl G ft W I S S pf 21 .. Atl Gulf ft W 1 S d :e' 12 Atla3 Powder 164 .. Austin Nichols.. .. 35 'i 7 B.i'dwln Locemotive1 40 S " Baldwin Loce pf . . .118 .. Baltimore & Ohie.. E5i 4 Balte ft Ohie pf.... 64 .. Bamfd.ill Clasi A.. 38'-4 .. Barnsdall Class B.. 5'4 6 Bethlehem Steel.... 74 Va .. Beth Steel pr new.. .100 6 Beth Stee' B 75 "j .. Brit Km Steel 2d pf 33i 5 Brooklyn Hdlsen. . . 121 H .. Bk'vn Rapid Transit 1 7 ai . . Bklyn It T ctfa is la Bklyn Vnlen as...i 1 Burns Bres.. Burns Bres pf . . Burns Bres B. . . . Bu'te ft Sup Cep. . . Buttcrlck Ce CaHter- i Packing Cil'ernla Petrel... Califern.a Pet pf . .. ( a Zinc and Lead. C.' adian Pacific. Central Leather... Cen Leather pf rerro-de-Pasce . . . Chandler Meters.. Chesapeake ft Ohie ("hlitrn a Alten nf Chi & i: III (new) pi (.i Chicago & Gr West 7 Chi ft Or West pf Ii Chi Mil & St P.... 32H Chi M ft St P pf... SI '4 Chi & Northwestern 9255 CVcice Pneu Teel E5 Chi R I 1 Pac li CM R I ft Va T P' ''- Chi R I ft Pc 7 pf C9U Chi Ht P M ft O .. e6'J Chile Copper 5 Si Chlne Copper '04 Clutt-Peabedy .... 6i Coca-Cela 1 Cr.1 ft Southern -9 Te Cioride ft Se lt p.' 6' 'i fel Ful ft Iren .. :-2?4 Ceum Gas ft Klec. .'09!5 Celum Graphaphene ' Cem Selwnt A 48 i Conel ('.car ... '0'a Conselida'ed Gas.. 141 ' CenbOl Textiles 'Ci4 Continental Can . . r5H Cern Products Ref '3 Crpden ft Ce 401 Oesdn ft Ce pf. .. 100', Ce(!,n ft Ce rts ' ?j Cruel! 1 Steel 67 Cutian Am SJKar... 22't Cuban Am rfuKar uf 97 Cuba Cane Si.sar... 14 Cub.! ( an Suirar pf 30 'i Davisen CTicmlcal.. 40' nvsbeers C Mln Ltd 23 Del Lack ft West... '41 Detroit Kdlsen 114 lVome M'nes 40 n,i Pent (U 1 ) Ce 162 Cafitman Kodak new H r-i( Steratt'3 Bat. . . 17 S in 10 .138 102 53 . :-3i; . 0'i 13H 63' 95 .14BU 41 79 ',: 40 63 ? 76 '-i 4 Hlee BteraK'3 Bat. 'h lr 16 24 h 31 101 Kndlcott-Jehnson Krle . Erie 1st pf. ...... r.xchnnBe Buffet. . e u4mniiH P avers L. S Famous Players pf.K2 0 Flbher Bedy 145 14 ' Freeport Texas.... 5 3 Gun Am Tank. 76 General Asphalt.... t3V: 5 General Asphalt pf. B6 6 General Cigar 6 Hi 6 Gen Electric. ......It5 , Gn F.lec Wl Pf .. II '. General Meters.... 4J0 '. Gimbel Bree. 7 Gimbel Bres pf !Z Goldwyn Pictures . 7 . Granby Mlnlnc..-. -Of C.rav ft Davis '3 '2 7 e'eat Northern pf . Mi 4 Gri North Ore ctfs ?8i Cu MeWlc ft North 15. J lu'l Mobile ft N Pf 7 'J GuW i States Steel 89- Hublrsliaw Llectrlc U !.M,iini. 7.V4 Housten Oil...--. 14j :. Hudsen Moter Car. 2 , 1 uupu Moter Car . U Hydraulic Stee C 7 Illinois Centra .... 114 Indlahema Rf. 7 '' ' inspiration Cen Cep 3J ;: Inter Cen Cerp .. M ,-,r fen Cerp pf . . 1 ' ' ..- Acrrlr'lltlire. . 8 , unci ....-- Inter AKiu ' VJ lntemiit Cfment. j Inter Cem Lnu... . .... II(..v."Kt6r Ilt'W ? n Harvest newpfliavj 1. , M.r Marine I44 6 Hit Mer Marin.) pf . inter Nickel..... " ,'n.; lenal Pcr LMy ;; , vtncl. hi mrerp. I7'i. . . Iren pre'i.iui" . Ibland Oil . . Jewel Tea. . Jewel T a Pf 4 Jenes Urn Tea... . . Kane.iH ft Gulf. ii Kays-r ft Cenew. 8 Kuberncwp... ., 11.. CruMnO-neUl , KSPB 8 pn02H fi Kelsey non. v .. Keniifccett Copper. Kevstene T ft Lackawanna Steel. " Lake Erie ft West 2 36 32 Vx 27 'tjt 110Ji Cl 16 V 79 V. 10 v, s 19 C3'i Si 2'i 471.. 104 44?J &9'4 34 X 7 P3?4 35 low C3H H 114 em 1 144 47 W 79 53 Vi 43 80 42! 4 123 71 111 11214 ISO 26 H 150 13i 73 H HO',4 90 Vt 36 12K 39 133 121 49 H 120 7H :i'4 bl! 101 j 9B'j 3H 10614 18 54 12314 4 1C3 159 26J4 51 99 U 111 53 54 52 6014 83! 4 121 1C6 92 '4 ir2tS 21 30 163 54 35 13814 118 04 64 37 U T5 72'j 99 ',4 .3 33 121 17'4 15'4 l'7 136 102 484 33U 20'-j (3i t0'4 95 8 ',4 148 41 7914 39 'i 62J4 75 4i Cl 7 14Ji il!4 1014 92 P5 4314 SOU 99 '4 B6'2 5Ji :evi 63 79 as 491-a 62 Vt 32 ( lC7i t r 39 X 40 '.0!j !)4(J ire 8'.j D9U H'. (5 r.2',4 97 13?i 371', 36 U 23 1-0 IS 113 39 10 C6', C3'4 t'4 15 lj 24 h :en 99 1' 2 i4h 73 h2'4 95 li t0j 1&4 I0W 44 102 7 :-e 12 94 38H 15!-', 47 69 H4 21 72 (4 Cl 0'.j 22 Vt 114 39 1 014 36 ii 27 14 nevi 118 14iJ cex 16!4 79 i tex 17'. 49 5 n 0314 52 45JJ 104 43! 102!,(, E 09 Vx J4X 7 35 H "Vt V4 H 14 54 14 1 3W Va K 2 J4 t;in Nt P. M. Ch. 63X- 14 H .. 114 B4t4 114?4 49 - 79 -53V4- J4- 80 -4214 1?3 74X 111 2614 152U -1414 74 112 90 54- 36 -1214 39- I34J4 121 - 49M 120 7T4 2214 6114 102 - 9814 43X 10614 3814 123X 4 163 -1 60 14 2614 52 1C0K 111 E3V4 52X 61 83 Vk, - 121 10614 9214- 12214 21 -30 - 164 35 - 139 - 113 5514 64 37 Va 2514 7414- 100 74 !4 33 - 121 -1754 15Je 117 13714 102 5154 33U 20 Vi E3X - ex- :48'4. 41 7914 40 63V4 76X 4 61 - 7 14 32 51 9214 83 44V4 8614 . i54 -- ;8?i- 63 80 X -49 X -f 62'j r 32 I, - ICO'5 -! 48 H -r 40H 1414 104 -?5M 1 3 1 Va 48 100J6 r H4 .6 - 22 U -97 14 38 !4 - 39 - 23 -14014 11354 39 -161 ?7 I 7 f.5 -(-15X -24X-0?4 . 101 102 14354- 244 76 63 9514-6054- 165 !0H . 102 7 30 X 13 95X 30X . 1 5 14 - 89 M4 . 21 72 14 81 -i0J4-2214- 6X . 114 414 . 3D f. M . 1 ni4 36 -J2!i , 2714 , 79 3J 61 U f. '7!j r COM i )i . 19 -615, 52 M m 104 -44 X (. 10254 9914- 34 X -7 - 83M r- 35 - 14 " 14 T4 114 114 114 14 1 14 1 H 14 14 1 "w 14 1 1 Vt 1 14 14 114 4 4 1 H 114 2 14 14 X 214 1 J4 4 14 IK 1 14 14 14 IK. 14 14 H 14 14 2H X Hi li 1 5X 14 14 14 14 14 54 X ' 1!4 1 14 14 IK 14 2 14 5 14 14 Vt 14 14 X 14 ' 1K 114 ' 1 i 14 314 li li 14 14 'li li 14 'x 114 14 ' X 14 14 14 Vi !4 1T4 514 200 4800 100 100 1500 100 700 100 200 1300 103 1400 100 200 8500 100 3100 100 300 100 500 1830 103 28603 1300 1100 1U0 3000 3700 800 1400 100 100 100 1100 300 400 100 300 100 300 2803 100 tee 1700 1030 100 f 400 290 500 100 10100 603 103 9400 203 100 15600 1030 tee 233 103 200 603 200 67100 200 23333 12330 100 40.IJ 830 100 100 100 103 2303 100 100 100 1000 100 200 200 403 100 103 8200 1C0 100 100 1400 200 200 100 11030 100 100 100 100 3200 6730 500 100 6030 100 100 4630 100 100 200 2530 330 100 100 100 100 200 100 10330 2630 100 3400 1203 1030 100 2103 13433 430 500 900 400 26500 100 600 200 11530 3100 01 830 14J0 400 6330 703 1630 100 3430 200 2600 4I0O 330 100 300 1030 100 3100 830 200 3100 333 3630 700 29203 630 830 530 2930 200 500 330 430 1330 2330 1300 100 700 100 333 430 13'" ttce 30J 200 503 700 400 1600 400 1200 100 400 500 am 7S14 17 44 Z1J4 DiT. In I 8TOCK HUth . . Lake Erie ft West pf 73 3 Lehigh Valley 7114 2 Lee Hubber 2614 12 Liggett A Myers.. 224 H Lima Locomotive... 60 X .. Loew, ine 21 Ji J Wt Candy 1214 1 Lerlllard (Pierre).. 171 7 I.eu!svi:ie & Nash.. 143 14 .. Mack Truck 5714 . . Magma Copper 32 14 -. Ma II In son Ce 34 X 7 Manhat Elev Guar. 55 . . Manhat Elev ctft. . . 52 2 Manhat Shirt 54 14 Mar St Rwy pr pf. . 6814 Marland Oil 37J4 .. Marlln neckwell... 16 - Math Alkali 50 J4 2 MartJn Parry 2914 .. Max Meters Clasa A 5414 .. Max Meters Class B 1614 1 Mclntyre Mlnln... 18)4 12 Mexican Petroleum. 224 H 6 Mcx Seaboard 17 Jt Mex Seaboard Oil st 17 2 Miami Copper 2814 1.20 Middle States Cerp. 13X .. Mid vale Steel 3414 . . .Min & st Leuis new M St P S fit M. . . Me Kan & Tex (wl) .. Me K & T (wl) pf. . .Missouri Pacini! . . . Me Pae of 59 8 Mentana Power.... 7214 .. Montgomery Ward. 22 J4 1 Moen Moter Car... 17 Mether Lede Mining1 10J4 .. Mu!llns Dedy 20 .. Natlenat Acme 1454 7 Nat Biscuit 14014 7 Nat Biscuit pf 125 . . Nat Cleak ft Suit. . . 59 .. Nat En ft Stamp... 6714 6 National Lead 110J4 7 National Lead pf...l!0 5i .. Nat P. R of M 2d pf 3T4 .. Nev Cen Copper.... 15 X .. N Y Air Brake 39)4 6 N O Tex ft Mex... 81 X 5 N T Central ,10014 6 N T C ft St Leuis.. 91 2 New Yerk Ont ft W 25 54 .. New Yerk N H ft H 32 X B North American.... 95 X S North Amer pf 46 54 5 North Pacific 9X 7 Norfolk & Western. 1 22 14 .. Okla Pred ft net... 2 54 .. Orpheum Circuit... 25K .. Otis Steel 10 Ji 2 Owens Bet Mach.. 3914 5 Pac Gas A Elee.... t"4J4 .. Pacific Devel Cerp. 254 3 Paclfte Oil 54 X .. Paclfte Mall 14 C Pan Amer Petrel... 93 6 Pan Amer B P3 7 Penney J C pf 100 2 Pennsylvania It II.. 48 J4 .. Penn Seaboard Steel 5 6 Peeples Gas Chicago 86 .. Pcre Marquette.... 33 3 Pere Marq pf 72 3 Philadelphia Ce.... 42 2 Phillips Pet rei4 . . Phllllps-Jenes 81 .. Plerce-Arrew Moter 13 54 . . Plerce-Arrew Met pf 34 .. Pierce Oil 614 .. Pierce Oil pf 44 .. Pitts Ceal 58X .. Pitts & W Va.... 39J4 6 Pestum Cereal 119 .. Pressed Steel Car.. 90 5 Perte Rice Tobacco 77 .. Producers A Ref... 48J4 7 Producers A Ref of. 45 6 Pub Ser Cor of N J 95 8 Pub Per of N J pf.1051i 8 Pullman Ce 13254 .. Punta Alegre Sugar 4654 2 Pure Oil 30X .. Ray Cen Copper... 14 4 Reading 81 X 2 Reading 1st pf 63 2 Reading 2d pf 53)4 .. Rem Typew 1st pf. 94 .. Rem Typew 2d pf . . 75" J4 .. Replegle Steel 33 .. Repub Irerl ft Stcel. 56 . . Rep Iren & Steel pf 86 .. Reynolds Springs. . .23 3 Reynolds Teb U.... 59i 7 Reyne.da Teb pf...1iex .. Kels ft Ce 17 4.13 Royal Dutch N Y.. .. St Leuis San Fran. .. St Leuis S Fran pf. .. St Leuis Southwest. . . St L Southwest pf . . . . Savage Arms . . Seaboard Air Line. . . , Scab Air Line pf . . . . . Sears-Roebuck 7 Sears-Roebuck pf . . . . . Seneca Copper Shattuck Ariz Cerp., 58 X 29 4914 35 57 1954 615 1014 89 110 04 8 54 Sinclair Consel 34 X Skelly OH 10 54 Se Perte Rice Sugar 45 Southern PaclOc... S5X Southern Rail 26 X Southern Rail pf.... 70 54 Splcer Mfg 20 Standard Oil of Call 27 54 Standard Oil of N J224 Stand Oil of N J pfl17 54 Sterling Products... 5754 Stewart Warner Spa 52 55 X 5 7 3 S 4 Stromberg Carb. . 10 Studebaker 135 .. Sub Beat Cerp 714 .. Sweets Ce of Amer. 2X .. Tenn Cep & Chera.. 9X 3 Texas Ce 50 Ji 4 Texas Gulf A Sulph 61 X . . de Odd Lets 6Hi .. Texas A Pacific... 2954 1 Tex A Pac C A O.. .5X .. Tidewater Oil 140 3 Tlmkcn Rell Br.... 23?' .. Tobacco Products.. 62 7 Tobacco Pred A 8654 .. Tel S ft L. ft W.... 74 .. Tranf continental Oil 14 54 6 Union Bag ft Paper 72 .. Union Oil 17 10 Union Pacific UOfi 4 Union Pacific pf . . . . 70 54 2 United Alley Steel 37 .. United Drug 82 Ji 8 United Fruit 160 .. Unit Rwy Invest pf. 31 .. United Retail Stores C4Ji ..US Feed Products. 65, ..US Heffman Mach 2 1 54 ..US Incl Alcohol . . 69 ..US Realty ft Imp.. c6X .. U B Rubber 57 'i 8 U S Rubber 1st pf .100 BUS Steel 108X 7 U S Steel pf 122 54 2 Utah Copper C6V, .. Utah Securities ... 19', .. Vanadium Cerp.... 44 X .. VaCar Chemical... 27 ,, Va-Car Cheni of... 68 ., Vlvadeu lnc 12X , . Wabash 1 1 54 .. Wabash pf A 31 X J Weber ft Hellbrener 1154 6 We'.la Farge Exp... 97i 7 Western Elec pw.. HG'i ,, W Maryland Id pf 22 54 8 Western Pacific pf 59 54 7 Western Union Tel 115 4 WestlngheuM A Br 99 4 WfcBtlni; CAM.. . 62 X WtM E ft M 1st pf 74 .. Whcel'njr ft L E . . I2X . Wheeling ft L E pf. 22 2 White Eagle Oil.... 31 4 Wlilte Moter 50 54 . Wlcktre Spenc Stl.. 11 X .. Willys Overland ... 614 .. Willy Overlnnd pf. 42 5- ., Wilsen A Ce 42X , . Wisconsin Central . 31 7 Woolworth V W pf,125 .. Werth Pump ft M . 38 X Ex-dlvld'nds. Lew 75 70 26 H 224 S9V4 2114 12 171 14314 S5K 3214 34 55 51 H 4814 68 54 36V4 16 50 X 2914 54 54 1614 1814 220J4 17 lH 28 54 1314 33 X OK 75 17 444 2174 5BH 7214 2214 17 1014 20 141i 131 125 59 66 X 10814 11014 3X 15X 3914 BIX 9954 83X 25J4 31 95 X 46 54 8714 121 2)4 25J4 10 X 3954 C4 214 50 14 90J-4 054 100 48 X 4X 96 38 72 42 EO 81 1354 34 6Ji 44 58 X 38 X 118 90 77 46X 45 95 10514 132 54 46 3014 14X 79J4 53 5314 94 75 54 22 54 !i E6 23 54 58 54 110 17 57 X 29 4914 35 55 19X 614 1054 89 110 8X 8 54 33 X 1054 45 94 X 26 X 69 54 20 1i5'4 219 117" 56 X 50 55 54 123', 7!4 2'i 9 49 5i tOX 6154 29 X 24 140 33 61 X r5 7'a 74 '3 71 X '7X '4914 78 37 82 15754 31 82 X 6 20 54 67 X 85 54 :6 54 99 07X 122 66 X 19 5", 43 27 68 12K 11 54 3114 11 97 1 1 0 J4 2214 59 J4 114 5-4 99 6214 74 1254 22 31 49 X 11 614 40 Vi 42 31 125 38 1:18 Net P. M. Chse. 75 - 14 7114 114 2614 :: 224 - 1 1 - 1 - 1 60X-2114- 1Z - 171 -14314 34X 55 51 X 53 16 -50T4-2954 220 14 17 -1614 , 914 7514 17X X 17 10 U 20 14J4- 137 - 125 59 66 X 110X 1 10X 3 15X- 3954- 81 X- 10014 31X 121 X 214 2554 . 10X 3914 64 - 214- 52 -14 - 92 91 100 48X 4T4 96 38 72 -42 - 5054 81 13 54- 34 654 44 - 58X-38X-118 -90 -77 47X- 45 95 105 54 132 46 -30 54 14J4 81 53 5314 94 7514 -23X-59 11834 17 -5814 ,0 -f 49 X 35 57 19X 654 1054 83 110 r 8 854 34 -1014-45 -95 28 54 70 20 12654- 220 54- 117 54 57 14 134X- 714 2X 9X- 49X- 61 54- 61 X 2914- 25X 140 3314 62 - C6 5i 74 - 13X- 72 '7X 150 54- 78 37 82 -15814 31 - e4x 6 -0 54 - C9 86 57 99 54 '0BX 122 54 4X t 27 -68 -12X-1154- U- 9714- 110 54- 2254- 3914 115 -99 62 X 74 31 -50 11 654-40J4- 42 31 129 38J4- 14 14 14 1 1!4 X H 14 S I 2 14 1 14 V 'A 114 H 14 14 14 Vi 114 14 14 54 X li 14 14 V 14 14 X H 54 254 54 X IX 14 Hi IX 1 !i 2X X 54 14 2U 54 14 li 114 X X 14 14 1 -'!4 H H 114 54 214 14 1 24 IK 1 X IX 14 i ' 54 IX H - 14 !i 54 X 54 X 54 Vi 14 54 X 54 - 2 14 14 14 14 1 14 114 X 14 14 54 X Hi 14 IX 54 A H 54 X 'A 'li a 14 54 14 "l4 14 14 X 54 54 'l4 H4 14 - Si - 14 BANKER la a4 MsabU' man. It, xf la iunaa. eredlti' tnd ecrrMtnnd- wtaU oaVMetlea with larger enttr KMmmts'mk , v Lecal 'Change Reduces Membership 1 Thn Rnvsrnin commit! of ih Phlla-1 nivnift .-heck iicnonie na amendud the constitution r'lueln the numbr of mem- 1 lrs from 321 te K'.'U, Th. membernhlp of Itn'v 11 lluirh h ben eeld tn Willi.,,. M. Ilumrhray. Jr for $2530. unchtnstd irem tii last pravleui sals, !r. Slum- pnrey i in ins nena ana investment Duel nM, and was IV mrmberl of Ibe It. M. Btlnien Ce. ite the tint of In reri-nt oieiuuon, ' j. e me luapeaw v 1 ""K dtath of Mr. Cottonseed Products Repert U'.i.l.lnctull (! 1" ri " cu'' "' '' ' '""1 .,.',',. .1 iruilucts report of tn (Vi,u, 'ir ' " lU.tl.H- P. rial A.KUit &HS Dcundi. oempftr.! with 01,180.7 U, lle flned oil produced eD.flSD.KO peun.H com E"?4 with 70,017.0(18 and. en hand 63 . U71.73T peunae. """""ln', ,s Vi W.UJO, Cuke buJ ml Produced ."O.bTB ten., com. pared with 1R0.BM, and en hand. B0.T44 tena. compared with yj.;3, .''lnt"a pre- eucea po.yeT eaw yyu iurr" U lth iSTOl. unil 1 Janl. 47.705 bale", (-einpind with OH,.(0. Kxpertu of 'li""" vth Tfl!)2 bitlca. c nnared with 10,?; " und cak und mcul experts net avaliaeie. Dank of Enaland Statement Uiiide;,. Oct. 1U, The wedtly .,,m.f"' of the Ilanli of Knuland ahewa tha JoUewln rhan"H In jwunda: Total reaerve "! km. nnn ir,,iu.i- n..,...ft hOO.OOO; buu Hun ln,..,u.l Ota. iHtmm crcant'U, 9 HUK nnn 000: note' ernmtint Mcurltlen decreu nrnnnrttAn f .1... I.nl..a till a wk la IB.ea par cent - IN na ! t i ',1ft .! . :... Liverpool Cotten Urerpoel, Oct. 10. There waa only a fair demand for ape't cotton today wriif prieel jaaler en the bai nf a dicllne of 4 in nil 's?,rnn',nl',ldl""?Kt 18.70d. '"'SJ .al..PU.ri 8U00 bala, There nere no receipt. J?Siturea wnre uulet In the early lajlnita, Hpet prlcya wmi American, mlddl nar fair, II. hed iroed middling 18.fBd: fully middling is Snu, inlddllnr. 18 TOds low middllntf. Ijled: wed ordinary, ia.4Bd, and ordinary. U.5). BANK CLEARINQ8 Hank ciearlnu today compared with cor cer cor respendlnc day laat two yearei l'hlla . 1111,00000 172,005,000 f8S.V9U.OBl BROADE R TRADING LOCAL STOCKS Wider Inquiry Noted Indicated Reawakening of Slumbering Speculative Spirit Trndint; In the local stocks was of larger volume, broader ana mere an imated, but still mere or less special ised. Price movement was somewhat mixed with nbeut nn equal dlrislen of (fains and declines. The mere Important feature was the apparent reawakening of the Rpcculntlve spirit which had been slumbering In a most disappointing manner nil through the reeent tumult uous dealings en the Big Beard. EUcnlehr and American Gas once mere were outstanding attractions, The first named Indicated all earmarks of competitive bidding which served te bring the price back te yesterday a high flfnirc after n brief carlv dip. In terests supposed te enjoy close affilia tions with the management continued te make emphatic denials of any ne gotiations under way or the control of the property. , A , By the.c Interests, lt was asserted, the control has been placed In the hands of men who have developed and are new managing the business. Others: de clared with equal emphasis that while thefe statements are partly true as te the placing of the control such pro cedure would be necessary before any final agreement en purchase prlce for the property could be made. American Gas again took the sky route, making n quick rise te 82, or 2 points nbove yesterday's final sale, but apparently unexpected supply of stock was encountered, which caused n sharp setback of 4 points, te 78. U. G. I. was another strong spot and was advanced within a shndc of Monday's high price. The supply of stock if reports from the beard were true Is net everplcntlful. Thore was a bidding for the stock by fleer repre sentatives of several prominent houses generally understood te act for lntercfets close te the management. It was an effort te get the stock without lifting the price tee rapidly. As n result, several ether houses having buying orders found difficulty in filling them. One with an order for 1500 shares was only able te obtain 11 little vor 200 shares, and most of this was In Fniall lets. Reported admission by one of the Pennsylvania directors of the contem plated restoration of the 0 per cent dividend strengthened the position of that investment favorite. The price, however, did net get above 48, but nt that figure and also at -18, there was unmistakable accumulation. Philadelphia Stocks High 6 AIM Insur 2."i-i 300 Am Gn.. . 000 Am Ilwys, 21u de pref. . 425 Klee Ster. 5 Erie Light rref. 70 In Ce X A 40 V. 25 Key Tel pf 32 245 Tnke Sup. 7 11 Lcli Nnv.. 7.V2 6f)Leh Val.. 70 V lOOfMnrl'I Oil .'tfi?'., 535 O Eisenl'r KiU, 82 15 (15 57-i 0 -,2 78 13 (12 53 25 40 32 70 708 36 S4i 02 t:13 Net V. M. che. 25 Vi 78 2 141?8 05 4 07l 25 40. 32 3 75J1 70 V& "0Tb 8. .. 528 2fc 57 ... 4874 Ys 42 1 31',.. 01.. :i& 07 .. 'S 33 33- 3 .. 1.. 2H-. 41V- Vt 53V4- Vi 30 . . 2! .. 3 1 checks checks i hecks cheeks checks 17.1)1, 20.70, u.suvi ; 4.1!) : 1S.27; 15. 37: 20.10, checks che KH 20.15 cables cable cables Te the Helders of British National War Bend 5s of 1922 The right te convert theset bends into the 5 War Lean of 1929-47 expired fourteen days after the 1st of April, 1922. The termination of this conversion right is apparently contrary te the terms set forth in the face of the bend, but this rule has been laid down and enforced by the British Treasury. The Londen market is no longer dealing in these bends. Complicated formalities required by the British Treasury will have te be complied with if the bends are net presented for redemption before October 1, 1923. We, therefore, suggest that all bends be sent in te us that they may be ledged for redemption, interest having ceased en October 1, 1922. If holders desire te reinvest the proceeds in ether Sterling securities, we will be very glnd te be of service. mm tmmimmm A. B. Leach & Ce., Inc. investment Securities 115 Seuth Fourth Street Philadelphia, Pa. Telephone. Lembard 0t57 Bulletin Ne. 8 The Commonwealth Light & Power Company Controlling 81 Situations in 6 States Ne. 3 THE SAN ANGELO, TEXAS, GROUP Property Valuations - $1,428,441 As established by Sanderson & Perter, August, 1922 Annnnl Avrrage Year Ended 1017-1021 An. SI, 10S Gress Earnings $198,394.02 $214,756.52 Net Earnings 71.666.21 87,589.52 Charge for Maintenance and Depreciation, 1017-21 Inclaalve, average 10.20 of sreit. THE SAN ANGELO GROUP includes 6 situations, operates 62 miles high tension transmission line, and serves 25,000 population with light, power, water or ice. San Angole is a county seat, and the center of a rich cattle-raising area. Franchises en electric energy and water service extend te 1957. Dcscriptive Bulletin en request. "As lene as CemmunUtea live and thrive ee long will Public Utilities be a necessity" FAIRMAN & COMPANY ESTABLISHED 1902 DREXEL BUILDING, PHILADELPHIA, PA. -J Titl'nc Oil 75 Penn Cent Lislit pf. C7 57 C01 Pennn It ft 4S 48 35 Phlla Ce cum pf.. 42 42 113 1'hila Klcc 31 '(, 31 i flf de pref.. 31 H 31 83 Phlln R T 33 U 33 Vi 14 Phila True 07 07 15 Philn & W pref 33 4U itwys Le Gen 3 3 500 Tone Helm 1 1 lOOTone Mln. 2'4 2V 30 UnienTrnc 41$: 4ni 710 l' G I.... TS3TS 53 17 W. Ter& S. 30 30 2ft Yerk Hwy 1:9 20 15 de pref.. 30 36 tNet chanse miKl by comrarlaen with laat sals en New Yerk Stock Exchange. nnL,vnEr.pmA bends 4000 Liberty 2d 4V4s 09.00 1000 Liberty 8d 4V4 00.12 2000 Amer Gas & Elec 5s SI! 300 Electric & Pee Tr 4s ctfs 70 4000 Lehlgli Valley gen 4Vis.. U2V4 100 Philn Electric 1st 5s lOOVi 3000 Phlla Electric 1st 5i. . . . W) 1000 Philn Electric OVjH 102 FOREIGN EXCHANGE New Yerk, Oct. 10. Sterling was the strens and dominating Influence in thn fnrntrrn .yphnne. mn.T.nf n ,1,,. opening today, showing a net gain of 1 nnlnt- nt 4.4S (nf rnlilae n.wl A 17.1' tr, demand. Marks, Helgians nncl francs' made new low records en the move ment. Leral dealings were at a mini mum and the fluctuations recorded werp mostly of Londen and Continental ori gin. Francs were down a further 2''., Belgians 3'j, nre jiai swjss AaVi.n 1(-)( Spanish down 1, Norway down 7, Swed ish down 5 and marks down 3-10. Guilders were steady nt a new high for the vpnr. estuhtishnd nt tlm ., end yesterday. Trading still appeared te be largely or professional character. 4.4S, demand 4.47ris ; franc cables 7.3!), cuecxs i.-evi; iieigian raeies U.S7. lire cables 4.10Vj. Swiss rabies 18.30. nescta rnblnn 1T. :t!i IMiiisli cables up 5; Norway 17.S0; Swedish 11 IL-. ,,ll.l- llll.ir,. rlll'cliS 30.10 mnrlu fl'l 1 1.1 nie (Iiseeunt en New Yerk funds' In Montreal today was nominally un- perts expressed the opinion that any ;.. i r Vi " "" ""'"'u is un likely. Canadian funds in New Yerk were unchanged nt a premium of 5-3" te Va per cent. YKSTKHUAVS CLO.SINO QUOTATIONS Dimana ,. .,"? 7.41'. 4.2(1 un Cl . Cable -MO!.' ! wl JV4 jlSiJ TODAY'S OPE.MNU (JUOTATI0.VJ3 I Blerllnif Kranca J,rB OullH... Demund .... JTtt J.KSW 4 10 30,10 cnuiea ''' ou a.jwvi October Investment Suggestions Housten Lighting & Power Ce. 5s Milwaukee Elec. Railway & Lt. Ce. 5s Cudahy Packing Company 5jjs Northwestern Elev.R.R.Ce. (et al.) Equip. 6s Wisconsin-Minnesota Light & Power Ce. 7s Descriptive circulars en request for CM'013 Estnbllahed 1880 1422 S. PENN SQUARE, PHILADELPHIA Membrra New Yerk Stock Eichnme Boitten New Yerk Chicago Arrrex. Dna Ylld 1931 5.25 1961 5.50 1937 5.50 1925-32 6.00 1947 6.63 ERNST & ERNST AUDITS COST ACCOUNTING METHODS TAX SERVICE 2023 LAND TITLE BUILDING PHILADELPHIA Telephone Locust 2681 MllNMUlllBim SOUTHERN OKLAHOMA POWER CO. First and Refunding Mortgage 7 Geld Bends Due June 1, 194 Secured by a fint lien en physical properties. Net earning ever iwice annual nena interest. fennsylvania State Tax Refunded. Price 101 and Interest, te Yield 6.90 ARTHUR PERRY & CO. BOSTON Investment Bends New Yerk Lafayette Building, Philadelphia ri!IIMI!IIIH!llllIBIMnfflW,flll' Providence iiraaiiiiifiM DO YOU NEED AN EXECUTIVE? I nm in the early thirties with n record of successful work in my present position, ns well as in former connections. I have chemical nnd industrial training have operated plants, and ns an executive have been in close touch with all phases of an industrialization project thnt is drawing te n close. LdmnL?"in" "!?b,r butJwis e identified with a sound, i? srAiaXttr and encra M f e C 826, LEDGER OFFICE 09.1S DIVIDENDS DECLARED dend of Ba Oil for ejcli ten aheraa en flrat prfrrJ. panule In Lenflun en ictel-r 31 n..in. ylr. ln.ilr.nf. f..mn.n.. -.. v i r cnt. payaM forthwith te heldera r .'. Of Serteli Vrafi. Se a. fubllr ItUlhj rruritt math Kxttjempt guIUHnp. ytfll. American Gas Deb. 6s, 2016 Chippewa Power 6s, 1947 United Gas 6c Elec. 6s, 1945 rkaeeai Icuat 02J0-l.- rrivau I'iMOas te haw aeik ii lloiten record NevemUir IT, Headlnff Cetnpuny. quartarly 1 i flrat prclanad, payable Peceml ateclt of record Nevembar 31. lleyal wail nir..iii.nilj v.umpany. k 3 car cnt Interim dividend en ordinary mock? J. O, Brill Company, quarterly 1 wr cent en Prtferr'di Dayable November 1 te atepic of record October 25. htandard Mlllln Company, quarterly 2 per rtjcnrd NevemMr 17. .!.. riaflrlna Pnmnahu I 1.60""yibl.Deceml,riBto,iiecr;rr.o: Stern Dretherii. nuarterly j p.r Mnt en preferred, payable pacember 1 te ateck of rrceril November 1,6. Hhcll Union Oil Corporation, quarterly .m'.n.'.m.( Weman Executive Having had unusual experience In large brokerage house, Is new open for position where this valu able experlence will prove an asset te a busy man or big cor poration. C 828, Ledger Oflicc. mt'lm. m .. Metropolitan Edisen Ce. 1st & Ref. Mtg. GTe Bends PRICE TO YIELD 5.93 EMtSEir Bre s. &. Ce, 1421 Chestnut St. Philadelphia 179 per ten., wh v w. ..-. k..uiq ivveiii ber IS te stock of record October 30. . Columbia Qm KUctrle Company. vuLi terly 1H per sent, payable fJevambtr ft te ateck. of record Ooteber 81, Js MORRIS J. ROOT Certified Public Accountant uuyu Buildini. Pha.deiBr,; Alan A. Alexander & Ce. Stocks and Bends Colonial Trust BldQ., Phlla- Srnd for ii ropy of Our Weekly Mark! letter, "Cp uml Downs" Lawrence . Brown & Ce. CERTIFIED PUBLIC ACCOUNTANTS . 1660, BIAL ZITATE TRU1T BLD0. . iDvrttlgata nni adjiut -oriieratluii and paitDerahb acteuuta aad prepare lecvuis Tsx Returns. &W4?'JS' -'JMA'rtil ". (fy U. " t . . ; . ; ..iiftdCMWW.-. ik. '..ir
Significant historical Pennsylvania newspapers