m 1 m nmsmtiKs m m w 6 .-.! J1 f-'. PriL Z-t-j cm; WX.M &' W vmmA '? Hjftsy' frJ m T.f?mrB VTfl V"W :v', & M Week's Confusing Price Move '. ment Due te Adjustment J of Technical Position NEW YORK STOCK MARKET Only Aft,m:n tieptrt In MUMphtm Qvtfeg Fmt1 LM Tester's Sale. Salea. 41 , ,W8,! iharet i shares t..iuJ.u 1MII1U1I lflB i . . . Mil Te4ah far this wli . '. .e,075,000 ' New Yerk. Nev. 4. Twlny's epr mient in both (lib stock innrkct nml howl mnrUrt ronfiilrueiiHly cop- prrixf). Wlillr Hit fenrrnl lint put up e tcry Irrcaiilitr front nil the red metal Sheres innd'1 snMnnllnl nlrnniT. Nil Birrniis reasons wprp offcreil fee tin ttiddrn irrivnl ef npru1ntlve activity In Uif Ereiip nftrr , runny manths ftf neglect. Rumors of prnilliiR coiibo!! ceiibo!! coiibe!! ilations nml dlrldcnd distributions nets ficcly elrcii'titcil. nml It was pointed out the repners vcre far behind h vpncrnl IWt. ItrgnrdltM of the me lite, the nruvemrnt wns nbeut the' most imreeKffii! nttriiiptsil for tiral years.' Itaimnptleti 1 1 profit. triklng 'tes n rlicctinnie en the jenernl Hit, nnd wine 0f testrrdny's active, iMt'ers lit Hip re cqmv movement were conspleueus'y rrarJienary. In fnct the srenter pnrt of the IM was Inclined te slide off, but the upltirsc In the coppers furnMied a geed backing and sorted te keep the reactienists in check. A shnrp nilvnnce In" copper company llci.s nml lencwetl strength und ncttv lty of United States (levernment Issilcs tins the outstanding tie t r'ntiment of the bend dealings. Chl'c (.'tipper tl i ere .' points nnd the 7 -!i. white Corre dc l'u-re S Improved IVj. Lib city HVis advanced tie n $100 and the .jains In the 4 14 seiles ranged from c te 30c. The foreign bends showed alight Im provement, Japanese 4s, Marseilles, fls and Lyens Cm being among the tlrst te rise te higher ground. In the rail road list Iteck Island refunding 4x nml Canadian Pacific debenture 4s steed out with gains of I point each. Wall Street did the tistml fall house cleaning this week and like things at home, when the geed housewife gets bnsy preparing the ithnck ter thtt winter, matters generally arc out kclter. If one wens te believe the printed stutcinenii, of dome of the mere prominent specu lative leaders, the market situation has been satisfactorily adjusted and the Mage Ik already set for the secondary rise. It is u question, however, whether the week' shakeout fully corrected all tlie evils pteduced by the recent over extended Miceulatie movement. .Ne doubt, the drop of from f te - points in the litiliH'trial specialties cleaned up and (.limiuatcd n weak or undesirable following of Ihf censlructlve fereee. There is nlse no doubt that the reaction my party who liuvc ixpicsied mi unre Hinincil willingness tit help along the adjustment of the technical position lire uiunllv pregnant te tin: sin of ever-btt-pping the bounds of iriiMin. much tli' biimc as their bullish biethreu. In all events, the week's develop ments demonstrated most cinphuticnlly a most unhealthy sltuutien had been cieuted bv ihe boisterous speculiitieii promoted In f lie stuck dividend rumeif. A Lvrieiihl ever-extended long ncceunt tins dlhtiMC'l which forced the throwing overpaid of ;i large utneiiut of loesuly inuigineil itud. upon u mnrkuL whlcit vus n treinl v Htnggcmig under the weight of n big loud i f long stuff that hnd come out under the rover of the spectacular upliidilins of the Industrial specialties. Thin left practically nil classes oz Mucks viiliicinLIc te concerted uttneks of the pinfcruiemil bciiis who alreaffy hail sensed the overplayed condition of the innrkct. The crumbling of the r tilicl.il Npeculntive superstructure was ill ielle(ItlclU'i ill mi unv sm niUlnir. ll miis mere wonderful the lellnpse did net j irum even mere serious proportions. Huvvuvei, one of the fercej centilbutinrf te eniiM- its teiipling aiileniutically sup plied iiu nndei current of support in the nation of a reed sized short interest within telutlve slieit time. Possibly it was the hasty retreat of the mere icikless meinbem of the bear p.ilty that induced the belief of the weeks reaction r.s liemg enlv u tem tem tem porery adjusting period of the major upward swing, rather ilmn mnrking the culmination of the bull movement ax a gnat innny fear. It would be nPxt te tnppssible just nt this lime te give an intelligent opinion en that point. It U obvious, however, until the lean pesi- Ien Is in a mere healthy Mute, there nnrilly could be another protracted up ward movement in security values. I Here is no dependence te he" placed in .- f-iMinp in me operations or certain i pinininetit interests se fur ns a i J-JliiB in either direction is lencfrned. ' In lie tentinry, the innrkct is at in juncture where most cieij Ml. ,M act upon their uvvn cenvicliniiN or del !- i'.'.s; "s ar ,,,p moment, tl.re l no i visible . ,tf 0,((1inB . factuiy reckon inc. , Per the moment, the nin! concemi relates te the tr.lmh.il ,)Iiin ,' m . the iiMiket iihi. r Iwi , Vlhl tender mmcles of lh,. i,.liiiB ele ,e, ' some Utile tune out,:,le ,en.l Inn i thrr at home , nh.eiul ll(Ue little iimsiderat en. Thew has lieet ;merIn..,,encen,i,1,MhelVwh,n -' Milts and nuiepenn cei,(ll(uin.s. Then- nva.inblv furnhed cm uses rather tn. nisena for the menurial whins ,,f , trad ng element. Views, however re mtdlng the industrlnl outlook .re lather cnnllieting. All V,,M n.t", point te iucre.ui.n; ... , e.H ' ' 'm ,"" innrkct conditions. Tlie K.ire eun I t list en , Mill ver, .llMuil i, Hoe r lour llin... aic nil llkclv te . ", Zl hve m-iikel faite with ethei i I t,T new iirt n.) v. .i..: ' ' "" mnltew .,.- " ""'i nine .iiiiiif im iifiii r'liiHiit nf ii, peslbllltles will be future n mm e mat kefs possible. Te? - ,IJ lU'J ll.n--rifr, Mil j July Oan May Jjlv rtw Mnv ttths Jan I.anl Jin, GRAIN MARKET 'in rlntL J en l,s u: I7, i nn I M'l 1 0, n:, i7 1, m 17'. if 7V i'7'ii U'H- , 1 ")) lNt, I.'''. tH sj'j J: li 71 10 Oil 10 ll.' 11 A it II7. IIS 117 1 IB", 1 IS' l.Ot'i 3lS s:s 7.V NEW YORK COFFEE MARKET H mli n I'M.. Jn.. b.. Mar i Ufiv Jun , Juh kfl . N xirainn, iifii 'e'fiTJ ti tii'd.'rt IKHvn'l t O.I a? Ml II .Ml II. .11 i' en s 71 l.enr It U.V ll 1.1 II UU S II", S.ljil u'e'r II M S UStlUll Vl. I 'lone .70 11.7(1 (1.0 n vw ll Hi IU.I li ti u tn . in s in S77 8l'M 8M) ' trtl 10)3 4V) 3 2)1 200 ,111 tee (U 200 3335 100 200 203 1033 133 1213 333 10)0 . 830 100 1510 V 533 41 S7I0 433 307 17-1 . 1210 10) 22)3 410 3 O 6D0 ,03 1103 33.3 173)) 270) 233 6)) 533 233 500 5J0 333 87Ji 2303 500 103 "i .t STOCK lltrti Aeami Kapnaa.x. 90 .. Ajst nubbtr ISM A'lltfl chsm A Tjf. 7H .. Alaska Qeld Mnea. H 4 Aliu.chalmsrs .... 43 .. Am Agne rhem.... 32 .. Am Agrle Chtm pf, 03H . . Am Ht Augur... . 38 14 Am Beet But ar pf . . 78 .. Am Deaeh Magnste, 40 Am B Rh Kdy new, . 79 Am Can. . . . . ,. . .i 74M 7 Am Can pf 110i 13 Am Car ft V&r 167 .. Am cotton Oil 24 M .. Am Drug Byn 8 Am Espetis 182 1 Am Toe 11 Hi . . Am Intemat Cerp.. 31 Ta 1 Am T.r Franca Eng 11 H Am Llnteta 38H .. Am Mnatia pf C7'j Am Leoemottvo...,129 7 Am MeUti pf 11214 4 -Am Radiator 117 .. Am Sh'n 4 Cem.... M ...Am Bmdt EVU 7'Am Smelt pf 109 Am Smelt lea A...100H 5 Am 8tt1 Feundrlu i Am Bugar Rtt 78 H .. Am Sumatra I3',i t Am Tel Tel KB IS Am Tobacco 1'8 12 Am Tobacco 9 14 .. Am Waterworks... S0.W .. Am WetnvgB7 Pf MK 7 Am Wee!n 19 ' . . Am iSIne Lit A Smelt 17S . . Anaeenda Copper 81 , 4 Aaie Dry doede.... "U Aut Oil 118 6 Atch Tep A Sat) KelC4'i 7 Atlantic Ceatt Mne118H .. Athinttc Krult. '..... i .. Atlantic Fruit etfs.. ?. .. Atl tJulf SWISS 2!i .. Auat'n Nichols '3U 7 Baldwin Loce.notivel32f4 .. Baltimore ft Ohie.. 52 .. Harntaau ciaas a.. :t ay uk Bres.. 203 4ie neehnut Packlny.. 57 424 10433 8 Beth Rteal B 71 5)3 .. Bath Hteet pt new.. 97! 100 .. Beeth Fisheries.... 7 3J3 . . Brit ttn Steel Sd pf 31 833 .. Uklyn Rapid Transit 17 '4 2)3 t Bklyn Union Oaa... 124 103 .. Brown Shee 60!i 200 7 Brown Shee pf.... 96 ) 333 7 Htjah Term Bid pf . . 89 2)0 in Burns Bres A 132 1500 2 Tturns Bres 4814 2333 .. Butte Cep ft ,lne. . . 7ft 12:0 .. Butte ft Bun Cep... ?3ft 100 . . ButterlcK Ce 194 1230 .. Cadde Cen O A It.. 9H 439 California Packing. (4 15)3 .. California Petrel... I4 100 7 Callternla Pet pf. .. 92 0)0 .. Cl Zlne and Lead. 8 1330 10 Canadian Paelfle. . . 1 484 4)0 .. Central Tather. ... !9M tee .. Cen J.enther pf 77 103 S Central of N" J 15'4 1801 .. Cerro-de-Paece .... S' 0)J Chandler Meters... 62 9)) 4 Chriftpeake ft Ohie. 75 H 10) 6V6 Cheaapenke ft Oh pt104 50) 203 230 5)3 8)3 14 IJ 8)3 32)3 110) 103 2)) 412)) 14.0 I0U 1233 an 163) 9J3 20J 16)3 243) 733 5)0. 2733 ' 8703 103 13)0 103 530 100 4)3 100 4JJ 233 103 40)3 4)3 10) 10)3 100 GO I 203 4JJ 9)0 7 0 20) 513 233 4J3 39)0 . 333 It J') 100 233 2)3 56 )) 230 830 933 3J3 103 2)0 103 93J 13)1 100 4)) 1.13 803 n 103 ?J 103 1333 1433 2730 131 400 I2JJ 4W 413 ?50J 15J) G3J 70U 100 26) J 201 110'.) 103 13J 130 1510 203 103 1500) 2 J J .. uuicage Alten.... vt .. ;:! E ill 274 .. Chi ft Bill (new) pf 60'4 . . Chicago ft Or West. 5 .. Chi Mil ft St P.... 30 Ji .. Chi M ft St P pf... 46 E Chi ft Northwestern 01 4 Chicago Pneu Teel. 84 U . . Chi R I ft Pae 41 V 6 Chi H I ft Pc Pt 90 H 7 Chi R I ft Pe 7'i pf 19"4 .. Chile Copper i7H .. Chlue Copper 5 6!i .. Cluett-Penbedy .... 6 4 rocn-Cela CO C Celum Cas ft Elec. .lCO'j .. Celum Oraphaphene 3H . . Cel Craphaphene pf 1 1 Vt Cetnput Tab Ree... lW .. Consel CiXRr 58 H 1 consolidated faa...19 .. Coniel Textiles.... 1l(i .. Continental Can.... (6 4 Cern Products Ref.130fi 4 Cosden ft Ce 49? 7 Cosden ft Ce pf....1C0?4 ... Crunlule Steel -.B ,, Cuban Am Siujar... '.2H .. Cuba Cane Sugar... I3? . . Cuba Cane Sugar pf i7 .. Davisen Chemical.. '.2i 3 Deeia Ce pf 73JJ 9 Delawara ft Hudsen 152 Uel Lnck ft West... 126 8 Detroit Ellisen 11l!i 2 1ome Mines., 6 8 Du Pent (B I.) Ce. 159 5 Kaatman Kodak new 5 5 Klte Storage Bat... 16 U .. Kmersen-Brnnt pf.. 27 !4 6 limllcolt'.lehtisun .. I' 7 nndlcott-Jelinson pf 1 1t) .. Krle I Vt .. Krle 1st pf ?14 g 1'ameia Payr L.. tfi 6 Feil Mm ft tfmcll pf !9'i 10 Fisher Bedy 151i .. Klsk nubt-er 12i .. Freeport Texas..... 22ft Ucn Am Tank...'... 76ft Gen Am Tank pf. ..103 Omieral Asphalt fA.'i aineral Aspnau pr. i ft-n Hlectrlc 180 nniElec SDSClalDf.. tt ,. General Meters.... 14J4 7 Gen Meters deb 7 16 7 Qlmuel Bres pf 97 !4 . ae'.dwyn Pictures.. . aoedrlch B F 4U 7 aeedrlch B Fpf.... 82 !i , . uranby Mining.... 17 . Giny ft Davis...... II 7 Great Northern pf.. 92 V 4 Grt North Ore etfs. 34 . Grtcne Can Copper 25 Gulf Hmts Steel... 83 . Gulf Metille & S pf 7 , llalilraliaw Electriu. 2i . Housten Oil 81 5 llomcstake Mining. 72 3 Hudsen Moter Car. 0?4 1 Hupp Moter Car. . . !1 1 . Hydraulic Slee 5 , inspiration Cen Cep 37 Inter Cen Cerp. ... U . inter Cen rerp pf . 1 lnt Clreivt North vf 23 S mi Harvsster new.. 106 U i inter Cem ling S . mter Marine........ 12?4 C lnt Msr Marine pf.. S3 4 . Inter Nickel i international paper in IS lnvincibe Oil Ceip. 15ft lien Preaucts Island Oil Jewel Ta.. Jenes Bres Tea . . . Kan C'ltv Southern Kansas ft Oulf . . i:svsir ft Ce new. Kelly'SprlngfleM 44 li 14 19?i 50 14 Ui 2, 46 U 4Z l.llu.Sn T Sle PllWJ Kelacy Wheel ICO Kennecatt Copper., cbj. Keystone T 4c b?s lew 79 13ft '81 43 32 63 Vi ?8ft 78 i9ft 73 74 ft 110ft 188 24 . ft f32 108 14 31 H lift J3 t7ft 127 112ft 113ft 22 H 67 ft 103 toeu 44ft 7S4 33 Vs 174ft U3t 89 ft 31 ft 7ft 17H "9ft fc74 118 U3H 118 2 t :v. 131H 51 ft 31 i 17 42 7t)ft t74 7 31 17 173 60 ft 93 '4 98?. 132 C 74 T3 19 8ft 13 92 HH l'4ft :s 77 215!i :r 61 ft 75 1C4 ?ft r74 60 ft 4ft 29 J, '5ft SO 8? ft 40ft SOft J9ft a 6 rsji (6 7e: U7',i ;i 104 lft 17 i:7'i 11 15ft 129ft '9ft 100; 77 !' 12'l 13!i 17 73 ft UOft U-5W 111ft 44 ft 157 th 154i 27 H 118 14H ?lft !4?4 91, 149 lift "ft , 74 ft 103 18ft 60 1791, 11 14-4 (6 De-V OH S3 U2ft )6 11 91ft :44 5 19ft 2 0 U 20 H i ft 35 U U 23 10414 25 4, 12 ft 15ft 13 1514 44 Vi ft 50 ::ift 46 14 41 ;, 100 100 1.3 oft 14 Te4re Wet ' lr-c,,ft 13H ! ft 79ft- H ft 43 3? - ft 03ft 4- .$ 38ft- 1ft 7B -39ft-73 74 ft- 110ft 187 84H- 7 132 - 108 H- S14- 11H- 36ft- t7ft- 127 - 112ft 1- 117 22 ft !9ft 103 100 H 40 76 -33ft-124ft-1S6 134ft -- 29 ft- Llft- V8ft- 17ft- 3054 4- b7W 118 -f- 1C4 - 118T Z ftr 2ft !t 1 ift 2 1H H ft ift ft 4 ft H ,3ft- 334 13214- 57 42 ft 70ft 7ft 31 J 17ft 60(5' 90ft 99 132 4814 7ft 4 :s 4 19M 9ft -t- r3? 4 - 92 -8ft-143ft J9 ',7 4-215ft- .9 J. tlft- 18 h 104 ?ft 37 M, 60 ft 5 29?.- 45 ft - 0 8??.- 00ft t9 1- :7!i; ;cft ,-. C6 !- 79ft- K74 - a : 11 4 69 ft- 37 ft- K8 - 1114 4-C6ft- 12Bft 49 ft- 100 . 77 ft-12ft-13ft-37 32 : 73 ft 4- i:e- U5M- 1 1 1 ft 4- 45ft r 117 - 05 , 51. -27 i F6ft 110 : 144 21ft -bBft-i E9ft4 150 - VJi . ?Ti 76 -: 103 f '8ft- 90 179ft ;- 11 14 ft 96 J 66 i -?. 17 j- II 91ft- 23 09ft- 47 4- 2'4- fll 72 20 '1ft ! 454 - 7 r ft 1 ?3 12ft 62 ft 15ft t 58 -lift 44 !i ft 1!i SO', f l!i -i 4SS4 I 41?,- K'O ) 100 - :sft4 oft ?e 1- 2 ft ft ft ft 'ft ft ft 1 1 ft 1ft ft T. 1 1, V H 1 ft ft 14 n, ft ft ft 'Bi ft 2ft 2 !' 4 ft Mi - ft !h meuT. .. u te S4ft )....... 194 ly. ....... 13?t 6803 333 530 2)3 73J 9)0 100 10)0 9)0 6203 8)0 100 6)0 430 100 630 33.7 430 1700 100 2100 210 200 10J 13)0 100 1430 1103 230 2001 1490 200 20) 2100 15703. 10400 0330 100 2200 803 47J 633 4)3 1.290 200 330 103 103 10) 8TO0K ' HlStt Kresge S 174ft Xaajede Oas of St t. tM Iniah Valley (8 Lima Lftwneura. . . 60 .. Leeie Wltes .. .eta ine. 1 Lft Candv. .. Mack Truex ten 1 Maek Truck tit pf. 91 .. Magma Copper ?3ft .. Manhat Bltvetff... 24 I Manhat Shirt E8H . . Market St Rw.v pf . , 34 .. Mar St Rwy 2d pf., 16 Mar st Rwy pr pf.. (8 ft .. Malllnaen Ce 33 ft .. Math Alkali E4 1 Melntyra Mining... 18 4 Marland oil 34 ft . . Mas Meters Claea A 49 .. Max Meters Class B 14 W 8 May Dept Stores... 163 ft 18 Mexican Petroleum. 2. 3H Mex Seaboard ?ift Max Seaboard oil ct 20 I Miami Copper 57 ft 32 H 8 17 4Jft 19ft !SK 70 ft 16ft 22 H Mldvale Steel Win ft St Leuis.... Me Kan Tag (srl) Me K ft T (wl) pf. Missouri Paclfta.... Me Pae pf Mentana Power.... Moen Moter Car.., Montgomery Ward. Mether Lede Mining 1 1 Nat Biscuit 237. 7 Nat Biscuit pf 125H . Nat En ft Stamp... 68 C National Lead 116 : Na-t RRef M tdpf 3ft . Nav con Copper.... 15 N O Tex ft Mex... 81 . N TAIr Brake 34 B N Y Central 99 ( N' T C 1 St Leuie. . CO . -Yew Yerk N H ft H SO ft 2 New Yerk Ont A W 74 ft . Norfolk ft Southern. 16ft 7 Norfolk ft Western. 120ft 6 North American.... B3ft t North Amer pf 46 ft I North Paelflc 134 . Okla Pred ft Ref... 2ft . Oraheum Circuit... 73 Otis Elevator ISO Otla Steel 10ft Owens Set Maeh.. 19 H Paatfle DeveJ Cerp. 1 ft Pae Oag ft El.e. ... 81ft Paelfle Oil 48ft Pan Amer Petrel.... SO ft PanAmerB 88 ft Penney .J C pf 100ft PennsylvanlaRR... 48' 4 Penn Seaboard Steel ?4 Peeplea Oaa Chicago r4? Per Marquette.... -5ft Phillips Pat 46 Pleroe-Arrew Moter 12. Pleraa-Arrew Met pf 30 ?4 Pierce OH !H PlKly Wlggly Stere 47 ft Pitts Ceal.. Pitta ft w Va. 3)0 ift Pend Creek Ceal.. ft ft1 h H U IHl 1ft 1 23J .. Pressed Steel Car. 1330 .. Producers ft -Ref.. 103 1 Pub SerCer of N J 12)3 1 Pullman Ce 5)0 .. Punta A'.egre Sugar 44 ?a 6)3 I Pure Oil ?ift 633 8 Rallwav Steel Spg..H8 9 !8'i 19ft r4 . '4ft . !8!i .'.28?, 103 8.41 Rand Mtnea. 1203 .. Ray Cen Copper... 39)3 4 'Reading 100 2 Reading 1st pf 4)0 . . Replogle Steel 813 .. Repub tren ft Steel. 203 .. Republic Meters.... 103 .. Rejnelds Springs... 10 M Reynolds Teb B. . . . 6)0 4.13 Royal Dutch N T.. 10)3 1203 1333 18)0 3)0 230 200 15 JO 1430 2)0 4633 100 233 9)0 9)3 103 233 100 543J 45)3 100 633 1103 233 14933 103 43)3 200 200 103 20J 23)0 2400 103 8J0 28)3 1103 233 18)3 10) 4)3 1830 100 100 403 120 ?l 100 19)3 10J 103 433 4100 4)0 70) 43) 100 2b7)J 403 2530 103 12)3 603 100 103 100 210J 110) 200 200 203 103 2.tOJ 630 203 10)3 200 10)0 100 73,', 103 100 203 31 ft 14 13'. 52 ft ?rt!4 104 2 14 57 . 3ft 19ft 71 Jfc' tOft 21 2i 6ft f3 9 ft BS S3 99 ft "ft 03 ft 5 5 ft CS !"U 130 St Jeienh Lead .. St Leuis San Kran. .. St Leuis Seuthweat. . . Kt L Seuthweat pf . . .. Savage Arms .. Saxen Moter .. Scabenrd Air Lin.. .. Hears. Roebuck .... .. Seneca Copper . . Shattuck Arts Cerp. 2 Slnelalr Consel 8 Sinclair Cen pr. ... .. Skelly Oil 6 Southern Pacific... .. Southern Rail .. Southern Rail pt... .. Sptcer Mfs: 8 Standard Mill 4 Standard Oil of Call. 4 B Standard Oil of N J214 7 Steel Tube pf 79?. 3 Sterling Products... 5.7 ft 4 Stewart Wnr Speed.. 544 4 Stremherg Carb.... t'4 10 Studebaker 129. 7 Sludenikcr pf 118 ',4 .. Sub Beat Cerp a .. Superior Oil .. Superior Steel .. Temt Cern ft F "A" Tenn Cep ft Chem.. Texas ve Texaa Oulf Sulphur. . Texaa ft Paelfle.... Tex ft 1'nc C ft O. . Ttmtcen Rell Br.... Tobacco Produeta.. 7 Tobacco Pred A.... .. Transcontinental Oil : Transue Wms Steel .. Union Oil 1,0 Union Paelfle.. 4 Union Pacific pf 5U r? 14 9ft 48 ft 65 ft .'6ft J3H 3ft 16 , 32 ft 14ft 33 16ft 1'7ft 7 ft 7 rnlen Tank Car. .. .116 7 I'nlt Cigar Stores pf120 .. de Odd l-ou. 120; 1 United Fruit 155 .. Unit Rwy Invest pf. ;6 .. United Retail Stores B.l . U S C I P, ft Fdy. . 30 6 tf H r I P ft Fdy pf 70'2 . . US Feed Products. 6 ft ..US Ind Alcohol.... 68 K ..US Realty ft Imp.. 17 ft ..US Rubber .' i ..US Smelt ft Rf . . . 40 3'i U S Smelt R &M pt 46 C U S Steel 107ft 7 U S Steel pf 120ft 2 Utah Copper 65 'b .. Utah Securities.,.. 18 .. Vanadium Cerp.... 40 4 . Van Raalte Ce. . 1 7 Van Realte 1st pf . . 99 . Va Iren Ceal ft Ceke 59 1 5 ValienCftCpf 85 .. Vivadou Ine Uft ,. Wabash 10 , , Wabash pt A 30 1 Weber ft Hellbrener 12 5 Wells Farge lixp... 84 ft 7 Western Elec pf 111ft .. Western Maryland. 13 . W Maryland 2d pf. 26 fc 7 Western Union Tel. 1 12 westing ti st 01 ... . 1 4 Wheeling A L B. . . . lift White Oil Cerp.... b, Wkklre Spene Sil.. 10 14 Willys Overland.... 6ft WI1!0 Overland nt- 40 Woolworth P W... 167 ft Werth PumP AM.. 2l 'taw 174 E9K (8 '0 34 IBM 13 fsft 91 32ft !0ft 174 34 18 68 32 32 H 17ft :3H 'Bft 14 UB 221ft 19 18 ft !7 12 31 H 8 14H 4314 19ft Mft 70V 16ft ?2H 10ft 236 ft 12514 17H 113ft 3ft 14ft 81 ?4 6H F8 29 ft 24 16ft 120ft 4ft 48 ft (Sft 2ft ?2H ISO 10 e 1ft 81 3K 88 M I6K 100ft 48 3ft 93 ft 15ft 43, 12ft 30 ft !ft 42 ft !9 S8 18ft T4 4ft f8M KB ft 44 ft :9ft 1t7ft 35 ft K-K t2ft 52 ft ?H DOS 1 14 1.7 J4'. IP 7 :6 t8 2114 i'4 --ft f4ft 8"i :a4 99ft ft '.2ft 15 16 1l 130 KM ft rn 79 ft 16ft !3!i lift 170 118-4 7'4 514 14 '4 9ft 411 15ft 7b?, .'3 .3 514 H'iJ, 14 33 16?. !'64 77 ft 116 120 KO 155 .6 81 no 70 ft 6!4 (Cft 16H lw 40 46 1(6 ft 120 t4ft 18 39! 58?. 93 .S9J W5 lift 101. 30 Mft 4ft 111ft 14ft .6 ft 11? tO'i 11 iij IOI4 6 40 187ft ?4 Teller's Net 174ft- ft 80 - ft E4U4" 4ft SSK :: !?V 33ft 4- 1 80ft- 2ft fS - ft 34 - ft 18 68 - ft 32- W 84 !- ft 18 r H i3ft- i Ti - ft 1IH .. 183 ,-1- 214 - m 1ft4- Jft 18ft- 1H 4714 4- ' ft 12ft- ft 32 - ft 8 6H - 43ft 4- H 19ft- H T4ft- 1ft 70ft 4- 1ft 16H-T- H 22ft- W 11 4- ft ?J8ft4- ft 123S-, ft t7ft- ft 118 3H4- A 13 4- 81 34 98 .. 88 - ft 29- H 14 . .. 1614 1ft 120ft- ft P5ft- N 46 ft 4- ft 194 4- H 2ft- ft 23 150 H 10 4- ft 39 ft 4- ft 814 4-46J4-90ft 4-8ft'-f-100M 4 40 ft 3 94 ft 4" 33 ft 46 i?4 30V4- BM 42 ft 4 19 4 38 18H 4 4 '4 ft- f 8M 4-128H- 4 ft .'9ft 4 110 f 35 ft 4- 13 4- 82 ft- 52 ft i8 - 5094 2 "- 14 - 57 5 8 ft 19 - 27 ! 4- reft -'- !.!) -21"4- 3ft 6ft C5 -9ft 4 OH h ."3 99 'J 9?i4 Raoevary of New Government 4s Proof of Soundness of Investment Situation HEW YORK CURB ft a ISrf8TBlA1. lllsh K.110 Acme Cnal (lie inebkivn (V tlwy ... I'b lOOuttuifdy Mud IS non out Tr us . . . a tOO Cnl Nlppl. 4 ISOO I'elum r.m.r.ld .. nie USOO C'ent Meters J 1 tee Cub Hern Mils ... il ftoe Ueiiv Blet O tint. (I'm I Slut Dur.nl I tee ur .Mir 1 u Mir Ind Ji)0 (laritner Mtrs te run h it .... sueuitn Al Ce. I !) lux-, vvneei , Irregularity marked price movement In today's abbreviated w"isIen In tin local msikit. Trading wns of smnll mllber. which was title partly te hnll f'nv inHuenres nml pnrtlv te the unset tled ftfnte nf I lie' N"u- Vnrlt market. I tt. T ilUnlnvKil iintntite flrmilCS1 at the opening, disclosing n tairi.v goeu demend for the stock nt .. ine 11c mdtiil, however, quickly petered out. Thn strength wen undoubtedly In re sponse te the opening of the munlrl-nallv-bullt L line te Frankford today. The effects of this reml en earnings will b wntchcel with n great deal 01 in terest. . As Is often the ruse when speculation narrows, the inniket wns found te 00 conspicuously thin for t.eme of the In active stocks. This was reflected In n U-pelnt decline in llrlll en an odd let tranMictlen : n !! point decline in Hunt ingdon und Hrentl Tep preferred i n n fielnt drop In ('remps: n decline of 1 Va n Huffnle nnd Suquehanna preferred ; i In Klsenlehr nnd n vi-pd"1 In I'hll adelphia Inwi'sted Wire. Resides I. 11. T. tl ether local util ity shares nlse were notably firm. Phil adelphia Klectrlc Issues and I. (1. I. made slight frnclienal gnlns. Amerlenn Stores held nt Jfi.'J. nnd Vennsvlranlu Itnllreail continued te brine 48',-j te 48U. , A tenvincinj illustration 01 tne tun ilamentnl Mrcngth of the Investment sit uation was furnished this week in the remarkable recovery of the new 4"4 per cant Government bends, which jester day were carried back te the subscrip tion price. In less than ten daya tne bends declined mere tbnn a point, and breaking par caused widespread com ment In bend market circles. The recov ery, however, demonstrated "that much of the misgiving voiced concerning tne future of the investment mnrket be cause of this Incident was wholly un founded. M-iMi linn hann nM innrvrninc the ft Lvvbelesale Institutional liquidation of the Hnvcrnment ismiph nnd etner oetid nnu realizing sales te recover capital for business Urcs. e doubt there was con cen sidernblc (llsledRinent In order te meet the increnslng commercial nnd Industrial credit demands, but Instead of provek. ing sales by apprehensive investets the yleldinc pilars enl.v served te reler.se the reservoir of available fund3 await lnp safe nnd attractive Income cm cm plevtncnt. The incident puts nn entirely dif ferent nspect 011 the outlook et the in vestment situation from that pictiircil only n week nge. It is cei tuln te exert a stimulating r-fTect upon the market nnd pmhnbly enreurngc it resumption of liimnelnl plans which mere deferred by tcasen of the supposed change of tem per of investment sentiment. In ether words, the feurs of congestion enter tnlncd are proving te be groundless, and tinlnss sat face signs nre misleading the bend mnrket Is still far distant from n condition of saturation. T.nw r.'e Ma 10i 11 nec Mft 18 ?:i V: 8fc us l,a.. 114 i 48" iifc 104 ft liu 4 He S"j l.S.t ASP JSJ4 1 1ft 14 1ft 1ft ft 1ft H ft ft 1ft " 14 ft ft ft ft 'ft ft 1ft Philadelphia Stocks IS C6 IQli 130 -t- 123 - I12 - 79ft- S7ft4- U 1 !3U- 128ft- 118 '4 7 i 5!4 - C2 u '4- 9 ft : 48 ft-C5'4-26 ft- ?3 - 55 ft- e?.ft- 14H4 33 16ft I46M4 77 ft 116 4. 1?0 .1. 12014 26 0 1 , -30 70 H f 6ft -u C7 -1 40 4. 46 4. 107 -UOft J. ?9i 4 61 99 59 ft ; 03 - W 10ft -30 lit. -94 ft 4. 1 H ft 14 ft 4 26 ft 112 61 II IOI4 6ft 40 17J, J 34 f 1 ft U 1 IH H ft e "4 2ft 'ft ft 114 ft ft H ! ft 1ft ft ft l?4 G 1ft ft ft Ift H Tiw CI no chn. Ill IK . . i.-.:t in.t .. 10 Jli 2 .-,() r.e 1 u H 3 i-h ',s J(t ig 3 11 11 -fl a."i ::.- -t-i-K 74Mt U.. 70U 71li V1 4S1.4 I'J'u 42U H :u4 :u,-r- & :ii", sis.. 40 1, 401.J, K :w 32 .. I h 1 lit". . . Net Minn 100 Am Keys, i:; CO Am 8tr..10 r. uriii .r a. 411 ti Huff& Hits t c pref.. ,10 WOtCMiP fop '.'Vft COOftlen Mtri U-A S Hunt 6: B Tep pf.. 10 10 In t'e N A 11 UO Kc'in'Cep ." 10O Lake Hup. 0a lOLeh Xnv.. 714 0O Kiseiil'r "fn3 'J00 1'enn.t R It 4Vi 70 l'hilu ' inn pf.. 4L''j l0 l'nihi Klec .'ilJ'j 135 de pief.. ai.. 10 IMilln Iimul AVire.... 10s C75 Phlln II T ."111 100 Ten Uel.. li. ISO Tn C X .Limits, 1IV.M . lfliiK. 215 I (J I.... 02 eli .-. .. COT Web &. II 12'A 12' VJi' a. 2.1W & I,i:il 11 11 .. 200 W fremp Sen.. no .v r,e 5 tN.t ilin msCf bv co nt'"le'i with la.t tt. en M, vrx Stock Kxclmn.. Tetnl al?. "S3S hri compared with 47!W liit vetltiduy. Tiu (r thlj week. .I.S45 .haij. riilUVDBLFIIU MINDS 1000 Libel ty -1th 44s '2 00.20 2000 Phlln Klec 1st 0 fl!)ft C00O Phlln Klec 1st Oi 104', Total. J1000 remnared "ith t(10 400 5t lUdi "It.un C' thin iv.ck, J'.'SS.SO'J. NEW YORK BANK STATEMENT I A Deficit of $4,086,240 cf Legal i Reserve Requirements Leans and Deposits Smaller The New Yerlt t'leuring Heme insti. i tutiims I hi wpek show n dencit of I S4,OS),20 et legal reserve require 14 I ment '. Tlil ics'ilteil largely leau of ft the SCT.OC3,000 cicdit decreai nt the ft I Federal Ke.ervi' Hank, as liabilities were renin eii nj uit runtrnctieii et jtt4,nR2,00(i in dcninnd depeslt. I.enns and di'-witiniM wen 1 nt down Ml, 1SO.000. lKluils fellow : UltAlil' I rfH it ' Ari4r4tit i l.imm tt I ' I 1 jh Wi a i ' . imrt n. '11 H Uitn 1 1 mum I in'r banKa un-l 14 i rscre l,.pl. ;? 1 Ileiii In ".Mi" , l.arli mil ' " 1 . ' 1 nmiieiili 4 li , Lrwrw 'n " ' ' I jnle .1 I "u ' . iniiiiiun ' 1 ' ft 1 tur.e C. nenumi 'i 1 itilit 1 It.v. ,L,h H "i cil'atit'i !'. K 1! - 1 U1.JJC .! 1 1 HTJ 070 r.J'.l till il'ut I 1 Jl.Mi7.0Ji, ,"il 7S3 DOI) l..is' y ll III 'Jul! si", ;i neil uja ii7ii oje ."7 'IS.' 00a '.It Mi 001 iiis i;j 00 fi.lS OOi) 'I iiJJ O'lO FOREIGN EXCHANGE Xw Yerlt. Xev. !. ine volume 01 1.-.21; IS.iil ; 20.13 ; 1H.20; 20.81 ; 311.13; Swiss table DnnNh tables Xnrwav cables Kvvcilibh sablts guilder cables murliK .01 11- Ml. 1S.IH, 20.1b: 18.25. 20.83, iW.Vn, c heiks 1 hecks check 1 heck checks COTTON MARKET Privluu JUIV 4ui,ui JJ,"I. .'.v tw -.',minui, 21 4.1 "l .is "i 1. . ..".. -.! '""" ai.im tjfSrlSilgirMJiam PrlcSO Haavw nn De. I. a. ... ...".' '""" "eurae .:-;" .v. 1 i'i ireu kSHTn.''. inns wcr lipnii nil tlir h' V-MWS SR e,mlm.u.:,hV-r,c"J .TL'l''". 3 .3i JiV cCn l' 1?."'. Lf '' ' ' irsaca TtiVcMtiatt4' ,n """V .i....ii,n7H nui.iv In the market for for clan excbungw'wn of bellila character nml changes In rates were narrow, as n 1- lis IT.. - w liAitnnu flint 1 1 11. it. Imntt nuc. 4 110 ii b ..i.....i 'enir.il Kurenenii exi-liniiues vvcte ir rn,t;n.f;rX;mrp."r; iluUUcgilur uduv en u m.xl-.a,, velunie of iniiiH which sheweil a ne! gain of Hi 111s ness. ine icniure whh iiumi S3 "n ."I deMc tar. llujbaml lire. -U"'.: M SeiT 2 y r. , :: r,r: n em he l..w ami Humanlnu ,,..-... ........... - - - - - . . nirvnni'ON of n point in rltiauieh, Dnnlsli .ind XerweKinti. HvwiuVh rructed 2 iiiinlH, dosing unrhiiiigi'il. A teaturi' vvn u reuttlen of 8 pnlul In Dutch cM'liuugf, which ha been u rtreiiu' element icventlv. the ili'dlne lie iue iittilliiitublc te taking of i-pccul.i-tive pietils. HvvIh exi liniige alto fell Ihe effect of lealilng of pielitx ami loci I peiui. Miakh moved within an i'tu'imh mil tow lauge nml left off mi clglilh above the i'tu'iii(! lower round. Hli'illiiK ciihlcs were 4.10,. demnntl 4.4.1!,: frnuc cables l.,XT'i. ilmvl.H llelglan rubles 0.3 iVa, checks lire cables, 4.20. i becks listsU cMm 15i4,' cbKks lUIIlll' ll.rWVj ; O.Stt'ri i RAIN Ifvl I nPAl HI CADIIinn I gl.'rfl r.l..... . ...!. e I Im3.II kl -.,,,Uv. ,u, ,rsvP, 0lJ rtr cinte.ii in Above 8ame Weak Last Year i ?"L. Kxchanges by banks of the lecnl I u'""r 'V nu Clearing Heuse 4sm.ntln . Lc,?i 1""1!'..? lower tlisti thus of Inst week Mm 'd ii.VerVe "in etii .. ......... u, ,-t ,vni. ever inn (0... responding week In 1021. tin aitare 5?,L lV.,A,O,,1i',,0U0'000 ' enitiared with 9,Mi,utiu,iniu i iiu Kiiiiie pejied Inst vrnp J vl'i ll.ll fi.lll no it; nnu .11 MIS ime e toil non if VI. I lit v eel. 1,0 ill L'40 .".UO.liIS OOtl 7,",OS,O00 Ms 00 j .1 Sh.' IH neil l 'I no," niie HI 731. WD ti SIJ 000 I. Sal f! tf.'it Kil.n.'e ( ., nun I .IM 'Ji OIK) 4 ill; l.'O.OOe . Gil." IM'i :i IU17 oeo in:1 3.'t ene r.m ?"uoeti i. . ll... Umtiliiit ll il li iiMlnln Jl'llll t-Al'illl II tt'n 111 llllllkW rhrmial...... Pitt II Oil fl I 1 ill I 111 lit SJt'l Ml It WMP INI HID ,. - " ,"" ' ' "lK M till I lev t un (Jieck ile.-llne.l I i.eint. STil.,.ruV-'?S'.J7-,'s:!7' ,,0'' 'zeclio-Slevitkiiii. and .lu,ce.Smvi.in f mi I w 1 1. T,82.i,tl, 1 ,21 1, or Ka f wire Hllghtl levvci. (luotuiiens; Uul. ' '"' "' ,.,, miiin. .Til : ltiiinaniilii. .112' i : Serbian, v v.irv u nr.i n .Vim te nn.'S.ri .... '.". 102: Orceks, 1.H.1: Csichn-Hltivuklun, a.ltP.; ,lu;:e. Slav lun. .lO'i; I'ullah, .O0T2": Finnish. 2.TH; Austrian, Ptiir.nil i'ii li Km '.OOtaV-j. nnd Hungntlun. .0004 1-10 VKH'IKKDAA'R C1.0MM1 IJl'Or.VTlONH Mir-llni: l'ian-i l.lre tlulldr 4 4ll (MM'f 4.1V. an. IS I til'; ll U.Vi 1.1U' 3J.1M , or" S'IN Ut-'OTATlONt t'.ftllnj I 'nil's l.lr.UulMfr. ,, l.4 ' si': ';, .'J.lli Cl.OJINO QUOfATlONS Seaii4 4,.r4MVi fWr vli.Xll hl7.su nun. ito.te.v it. Clli H.n iVa'e VMtt.b'h . D.trelt jl.ltm'e N, Orlvim 4M.ll.VH. 747 401.0011,01111 37:' inn) no) Ky.iu.y.'trt H.l.sne mm 14i,one nun C'l.h.'ll.lllll sn,4svv-.' 411 1157 Hi 4il3''Dvni4 S7ii urio.iiue !W Hn,4!S al 21. k 4U.V.SI11 11.4 i.i', hhi mm is ft itH.noe.ooo is.ii Ml)V "lntal .. rliif. (ui iw ., IS.7J,17' ".IT ' 7 nun 1)00 'JJ ll 711,1100,001) 14 U 41 tin.' 7 IS IS ,1 -'' 1.71. .'. lill bsnli hikI tru renuwn'f. lnire In Stsii bank. iii'J "J reinvan dft ' ller leu ?.t ilrm.iiil J reilln 1 it,ve ilriifr la ( rcuUiltui l . H ilr lualii ilpducicil 'Uil1i.lt tt..i d UOil liml i i."i non k . R7v.oen 1 17,77.'i Ollll .'ll.777.Ouu i'i OOn I' 710 i Wit Sfl 1 17 Oill 4.14 7i H OOn .11 UiV.1, OOO 11(10 He en Chem ClOU Am Thr.i prrf . 4 10i Kuupenhelmer .. 3e IOOKuppmi nrrf ., WH 400 Macy Ce pirt . . II 'J r.100 Nat nitcult Sft jane.Seu- Klct I'iiIi . (I Kin New I'lc I'uU vn cf S itltHnter niibb.r . . 4'j flne Ih eh rower ... 20 100 ?cit)i Irun . 11 HI N J sstne lsr. 2.1 S V Ti Pref IUIJ4 4W Tack Mtr . I7i latsi H.dle remmun ... 44 Jil(lRn Mtr Tr IS KlOO Heulh UI 48r. r.nOBl.nd Moter Hi, 7ftTeel.Slilp ... 3 r.l'Z 2100 tf H t. II 1 Mi 7iMi fn r Hh.r r.e (i H. laoe t'n net Csnily . 7 'i 21100 VV.yno.t'esl .. . S 2'. 1O0O .t Enrt (.'hem BSp SS- lTDii I'rlm. tt.dlu ... ll IS SOO Itewttl C.nrly ... 1 1M 300 rit l.sw felilupr . . Hi 11IHI Technlroler .... 2.V. 2(1 liiOT.nn. Kl Pew )i-.'. 4,4 4SN JtOO Wliither Mir .. . 1iU l"' 204 Yeung.t SAT .70 d HTANDAK!) 011.1 t10(,O Angle-Am 'Ol ... 2fl 20'. Sie Itucksre 1' t. . .. ufl'j in 145 Utteiin. sicn.l . no no 2b imp en chu .. . nyv, ns', 10 Illinois M .. . .2A0 230 Km ln4i.ps I'lp . UK sn 7e Ohie en . . una sni te I'rulrle Oi il ,A7(i H7e MO I'rslrl. l'lce 2M 2S2 10 Meuth I I, . . . vfl mi li.O heuth I'Onn Oil . 1H lSn I0'J H (111 rf Ky . ,1'i3'3 10hi lisnn M en et inJ I'jSH 12IS 4T, HeIht ll.f . 40(1 4nfp no a en of n v.. . ,vfr, r,74 OIIO S till of N V w . 4Slj 4S4 20 m en f.f oiiie ;.i."i r.4"i le v.euurr oil n,ii t.r.r, ir.oe vscuum en i tjtt 4i 2s com en . u.e i.'.m 200 Nut Tr.n . . 2S 2.". SOUS Oil of Calif .. 3 CM 300 Alr.n ... .2 100(1 Allied Oil .. . . II: SOUU Deem Oil ... .10 200 Ile.Mn W) e . 1 SOO t'nrlb Snd . i IHOCItl. .Servic. . 190k, i 400 Cities Serv il itf :u IDO (Jill. H.rv prcf. .. 'J' 100 ColeTlbl. rlvii 200 Creele Hn 2Vi 4il Kneln Petrel . 2,u 100 Kqults' I'a'.u pref . !.". 200 Federal OM . . k .100 Mllllsml Oil . . . . 4, lOii (llenruck (J'l l r 20' (Ir.iriK'U (Ml . 2 I00O Hudeen Oil 12- flUOO lnt J'otrel . L'4j loon i Key.len Hantei S2c 100 Klrby Pete 4 10(10 hi Iridlm 1t teccitlet Htr II pref fl'i loecitle. Serv III! pref (17 irie Cen. Bei.lt 1', ltOOUulf Oil Penn. 'V0' 100 Latin Amr . r,',c 4)0 Mdllinlli j", ; TiTi'fi Mammet 4: ICOMnrKfti' Oil 1 SluUMarisnd Me- . r' lli'l Merrllt Oil Vt 40O Mexico Oil t A ftOOO Midgut Tevue . .11e 12e0 .Mountain Pred 1S 1040 Mutual Kef 12't 200 N.v arm Fuel . 7Vj BSOOOm.r Oil l-, tee l'nneck 01 . h 10UOO tied rianl.ii 17. 700 Halt (.ruek Prwl IS1 ion Hn'.t c.-eiik Cen3 . 1 120O Hipjlp rtef . 3l. 220(1 Pea boil nl 'J' 100 Shell Uii v . IIS 43(10 rilrnme Pet 12l Hint) Snuth P A It . 14 1601, Seuth Mtai,M Oil lS'a I.M100 Texan O fc 1. . 4l- Ifn) Tiiidhn . 1'. 400 Wilcox Oil ... e'i MIM.NO 200 Alan Pr Cel . 2S 4IMKI Hie I.eilKn , ..10'' bOlill Hest Ment 10' UMie 11 M Cere . . e4p loe (.'anarli Copper 2t 2i)iie CinU"liirla Mtn . . 37c simoCen. Cnp Mill . . 4. 191)0 Cene-. Silver ... I't 100 Crenton Unld ... 2m 1000 l)lldt KM l-'c 1000 Kl Halv.Uer S 11000 nmmii hllver . Sc UOOO Kureka Cre-t . . . 3Ue KiUU I'I Mini . . .12c 2(in0 Ueld Uevc'. .. .. Ha f.tlllO If.vrd Hhll . "r 3000 tl.rmill l 7u JIUiii He.-I. Mining hi 600 Hill Tep .Si u 100 Ileillncr 12" fidiie lndepeml I.uaJ . 2lc 7K)0 l.er.ti Ht.r . 7e 4DIII) Cerk I'rev . 20e 2)100 Cunt Jllne. . .' Uul Cerp Mlnei . (I 3400 rein Cen- . OSr- 100 Un-den Oeld . S3INID Ueld U.ep . 1 f lvne tiulil ero 'i 3de Henrietta . 75 14J0U N Y Pircuplne . rtftu 3BO00 Red Hit Pler . . 4. 2000 McNem.r.i Cne 7 AOUO Marsh M'n . IK' 7000 National Tin . 2lc toen Nevada Ophlr lie 109 New Cernelia Id KKKi N.w Uomlnlen 3 8n Nlpl.slns .'! timil Ohie Ceptr 4'- 200 Park. "Vtah . 31. UTOO Ray Haicute. . 1. 1000 Simen atlr I J (a 400 Se Am P A O IVj 7000 Spenihead . 7e leirtiu Mtew.rt Mln ' lil'ie Stand Ml Lead UK 101,0 rtucctt. M.n 44e HOOTeck Hu.hr- I'V len Tonopah lelmm.' 1A 1O0O Tonepnh Cash Bei IH 1200 Toneplh Uuld 7(1 lCi Tonopah Kx' ' 200u 'ruulurine . 4n' 10O L'nltv Qe'.d . 4'. 20OO United Ea.lern . . ill 7,0O VV'e.t Brd V . t'j 17O00 Ruby Ker.l 4lc 50OO llichmend 27f rODO bll'tir M'rej 14e 10ji)riller Kin. li.i J lc ltd MIS 2fiOOH ni -m P. 'f I ''I I'"' Ui'O Am I (!. v." In,. 1U04 8lu,e Am Hum Teb 7 'i i . 'J'" 1000 AlUM 7. 3.1 tmIS Vh .lenOd Am fe ml tin V . l''4 SOU') Am 1 ll (s PI'1 1V 9000 Am J"l Mfc -4 i"l I'', 1000 Aliacrn Cep 1 ion , 1IJI KHH) Aiui'in 7 2 I let'. !' 10OO An m Oil 74. lilt li3. lsmili Armour Ce 7 l"4li 104'i t.VO.IO Helt) yt 7 :3 JOOU Can N P. E I 2001) Can N" K bt, ." 1000 i 'it .serv C iOOO Cit .Ser 7. II 2OO0O ( el (lr ,'n llilOO ( one C 11 7 .'Oee t op i:xp Hj il IIKHI llu il 7 7 ltwetlr Tr Oij if inn i,,ie i il t . j p?KifiiJT!JTift2r"rniBMgii Bi THE SANITARY COMPANY OF AMERICA, INC. 5000 Shares Par $100 8 Cumulatlvt, Pcrticlpatttit, Fnhmi Stock Partlclaatlaf with Cammsa ttaek up 10 Full Paid, Nen-Aegble Dividends faraMt Quarterljr Tibrusry, May, August. Natamfcer eeunU Net Werth 750,70,73 Valuation of AmMcan Appraisal Company. Net Earnings Yearly Mers Than Thrss Times Dividend ntqulieme.its. Purnnse Te Kspsr.d the Already Lars Business and Take Advantage nf the Building Beem en In Philadelphia. and Throughout lha Country. products Bell Pips. Different Types of Fittings, and All Kinds of Plumbing Specialties. THE STONE PLAN of Investment Service 4-POINT SECURITIES 1 Safety f Principal Managed by Steae Engineers. 2 Suraty of Dividend Guaranteed by Stabilising Fund. 3 Quick Convertibility Resale at par upon request. 4 Profit-Sharing At Retirement of Preferred. Te Rath-ad at a Premium of tt02 with Accrued Dividends and ' shara of eemrsen stock with each share el Preferred. tn Over Six Years Net a Slagte Client nt Thousands Has Evar Le.t a Dellar el Principal or Dividends Through Invest saeat In Stene Safeguarded Securities under The Stene Pan. Write er Ceil ler Full nerasstiea, witaeai OMtgetisa H. A. STONE & COMPANY Widener Building, Philadelphia Spruce 71834 iw mm W nrjnusiTimijiiiiin S ura KvSKii f'M m 186th Wml WmkM SSsv ' jw Capital rijfznL ,,nA Surplus nfMrBSS tf$k Reserves i ssbbbbbbbbbbbbHcVsbbbbbbbbb r BwW NATIONAL BANK :gg y CEmBFMML "Always Commercial" 'f'jni WWih,, K li. ' "4 llll Se Hie l.'C Sc .10 6" Mr 11)0 4'. 0 r li H 10s le TSj ffle 4c 7e 10c Stic irc i .i y me r.;i Sile 4-i fie ll'ij lie ''iV, lie ; t 4 IW 4 1. 1 '. rss ..'.n lie 183 Sc Se 28c He r- ift V4C I, 2'ic r. Ose I'S He te 73r. 5'd 40 lia Jle 1.1a 111 3 V. 44c ft'-, .10c 4V. Tc ID lie n:.p lie 74c S't 4 liu 4', IS 1t 4le 11 U Xlt v ft A mrr m DIVIDEND Frem the earning: six month?, the Dircctera have dficlarcd a dlvidenii of Ten Dollars per share, payable No vember 7th te stockholders of record November 6th, free of State tax. Future dividends will be paid quarterly: February, May, August ad November. $1,000,000 2,500,000 .'530.000 200,000 20,500,000 PENN in no'. l.M ti)j. ion. 10.'. 4 l7 10T. lilt' IHI'4 H'i', ".' l.li dil 107 lUJi, KM 1. Ki. ti Hii 74 '.'01 Oilil 40 100 nik BANK CLEARINGS jrit- 2IHIII ''lilir nil 1(10(1 Cult till 7n lSlll 0 In'r H Y ( L.tb loiie Inter It I Sj . 117 ''7 llilOO Kin (lit ' mi! " ' loon Kenmrett ( :r IO.P, l l" ll 00 I. a l.'Jn llJ 7h lyl ' I0l IOCII l.llilijr MiV I. 7 10l, li'i'j lillilt.li.cttt W W 7i 10. 'j 1 -'a .'.Out) llitli tJ li i HI "I inuii ln4 din t-i." 'It t'l I'1 10IHI Katimi t 1. 1' rm lip. '.'I'i tiijiin Mu X"ai dc il U Uli't '' .11100 N Atir.i 7'Sk li'il, (1. , lOUONit 1 04 i S bi lli'l ' 1 sole sa l.cjihir s nil , lnt . "iinnii x T N II II 7 (.ti . 1 1O00 (.hiv.liren 7 10i, mil, lm.O helu l ('I" l" M.'i't li'"i 1 1 11(1011 Hinitt.MfM Ui. 7b I0."li 1 i.1., 'idoe SOS ti, h ldiiij ti il lilllllll Ml .fl it 1 11 .' (I.1 I'I 't 1(100 Snlll A ( J 7 31 te.'1! l'J'j nunii t'nlun 0 1 Lel ,li IOI nil1. 21100 Villi e.l OH Tred (i'I'i 'ni'a 2000 Vne U.l 1. li'T'i 107 U "iidil i- I'uti 9ei till (Hi dOOOShiff r.rnm O'je le.Tj um in V3 t te eat Mt uri ii-i us' KlHKtll.N IMIMIX 'jOAiXVn S S 7e 1)7 1, 81U00 Klnc .'li " lift. 1(101) Kill !"Ktl Ml SO lliOO IVii'laii m-, 12 1 1000 H'lecl.tn Mn" (Un 12 lenilO Hueiliin U'j 1.. lOIIOHwlie On .'iB llll U 10U0 t H Mtx 4k S1, Klre.tme r,i imirtei 1". p(t ,r 1 7 per cent iirit.'irnl 'iunhl. Nuwnenr 11 te toe.i et U'Ci'f.l Seirmttv 1 91 Hull, li'i't lim . "" Kin ill 10' . lu.li. 1114', 101 mil, t'H' HI., 1211 .10 V, li'7 lui, lim, ion, t'7 in.l l7 1)7 J'l'i llll", lill 101', , .", Kl Jl' ll 1. ll'i ,-, 1 .1 M'n III'. , li V-i 1 ' I I I .'l I I l. II I', 1071. no JOHN WANAMAK FIRST MORTGAGE 6 BONDS October 1, 1932 FULLY REGISTERED BONOS DENOMINATION $1000 Tetel Issue $10,000,000 Secured en Real Estate Assessed by the City at flS,SS5,000 FRICE. 102 AND INTEHEST. TO NET 5.5', REILLY. BROCK & CO. 306 CHESTNUT STREET PHILADELPHIA FINANCIAL I TO THE HOI.tlKHI OF CATAHHA fllWMt OMI'ANV Tlilrty aenr Mx Per lent (.old Bnads Due June l.t. 1B3.1. , Tbe UquKable Trja! Company of NSW Tork. m Successor Truste tn thu Nnrttt American Trunt Company, Trutee uniler lh inert.a.w of tlie Catiiitiii Four t,'ernp.nv. I Je lid June 1. lDu.i. hereby Invite, tenders , for the e.le te II under the proi'ttlen. of r.ld mertHKe. nf a. rnanv linnd. I.tusc iiiereund.r ss win iniu.i 1114 euin or Tenty-.eicn Theuerind HI. llunilr.d n4 r'lfti-nlne Dell. re I'lfty-mne e.nt. (lat. OSS.fiO) at a price net exceeding 103 nl .ccrurJ Intereet. Tenden will b epn.4 nt the efttre of The Kjullnliln Truat Cera. .pariy cf New Vu'W. Ne H7 Well Street. Nr 'Yerk City, at twelie e'llnek nnnn. aresntr '6, 1W!5. end .neiil 1 lie .iMreBBi-d "Tender. I te the Slnlclnc Kund uf the Cstairba Vew.r Company " . Helder, of tiende whew tender, nre e repttd raniit present their bend at the .be v. Misiaad utTlt. of The Kqullihle Trust Com Cem .pnny of New Veil. en c- bifere Noieinber l IH IIL'2 Trie r aht I. re.eried te reject any und alt i (endere 'THE KUl'ITAItt.K '. rtl'Hl' COMPANY Of i NBM' VOHIv. urrerir Trii.te. . I Hv I.YirAN llMClAbUH Vice I're.Ment. i Dated, New Yerk, Neiember I. t22. i I KKI.HO rtIOICKI.KS ( IIAI. VOU'.yt. MBNT .MllitlllUll: C'V 30.YKAH GOIJJ l lltlS'Il1. Netlc I. hereby slien tl-nt puren.nt tn ite slnkltii; Fun I pre l.'un t thi .Mertens. dated Jiilv x ,t I fetm (71 of the .beia betidi, euch for Sno Imk te-n dr.in for nrlemi'tiMii un .lknunr 1 lic.l jt tejii'i Hi a rn.eJ Int. , ut le th.H dli Thj henle tlrnnp n 1 uml erect ai below, with all unmniuind coupon alia lied nheulil Ic pr'nented fei injnietit kl the etflre of (ha Cemmtirrlal Trtui iVimy Truetee atZ 11.11 rliiu.re l'lilladeli.hla en or "ifi'r jan' iinri 1 tli.'.t when ai Interest thereon sil rt0"' " s" in im aw l"7 I'nnd4 ireunu.li ilrv.n nll.ii iheuld h.va ben prtfiiied lui uili "uul" nav Ne N7 Ui llil I, d7 , 0.1 'n lift . Ml H) I.' I. Hi II , I," I I I'M', Ml , .11'. J.l WHOLESALERS Bankers and investment houses are invited te use our service when desiring te buy or sell any Govern ment Loens. "A Nationwide Market" COMMERCIAL TRUST COMPANY Member Federal Reterve System City Hall Square ge- -- . c-u.Mili:itri.:. TPl HI .'llll. II. Oclnta' r .11 I'll" I'i 'HI' Wi ll 1MI.V Tru.lea I'rerluent, Aiinuiil llrelln.a NM l. MKKTIM! or tmv Itf T1IK r I ru t rm i f tin ii'. Till, ,l IriiM n,nInnr"T 1 1 1 ' ",", Pn' arid 4iirt, ,t lletiilu. Vi.einieV Sil ibJI at a.lj emi-u ! j a ( "h M, VmI0.'; eeiilnn i.l i hell iu, flie fitreewr. t Miiij fir Uiili veme liener, te itvi.iir i M. i:niNfj Hirrary. AND lllildenda iiir; iir.ii rim. im.i rill Tinie Ttlwr ...ii... . . .r. .... . . . . ..i -,. a I IIPUHI. .l.l,IHHI Srl,,jri'1,r ,('lr",', "wn.oeo ( Phi 'Ji Inl Ih Njwiiiber J 111"" Th II nr.l of lHtiip l, h, ft.;-',!.. il.r. 1 eml nmiunl tllildenil of ,1X li. Ir mil. .leu- r tai, iuHti. lleriUlL i' in. t, MU.kh.ld.r r-, r. .UiOT'V, .J. luie f ,.f the ii.m.ien hi (h Pli.Ve r h...i ,e., W..I-. It I... lh, traneVteSk; The jin J.'.'n nun u.iii added ,, ..... inaLlnif tl.i.1 lL.t I 'TBe niKi " '" urPlus. ii m i'ii i u;vi:iuNfj. Treanurer Hit il. il,-it mic. (di cmnnarcd inh .umiillii Unv I it li ii e.ii I'lJ.' ,. , 1WJ1 lli.'n llofien ; ih'J niie $13,000 (ion j ,:, iiim 'n I III hi Ml (11.(1111.0 TOII'lll IIIIO S.' till OMl " i f- Uwreece E. Brown & Ce. CERTIFIED PUBLIC ACC0UNTAN1S l0 REAt ESTATE TRUST BLUO, luietuiitu and tiUJuet iurpuratn n no 1 iHrtiieral.ln arenunt. und prepar. Inceina Tss H.ture.. r; Safe Bends for Investment Halsey, Stuart & Ce. 7c. Tills Bktg. TZfcme Uaut 7410 I tH i I'i iimhihIm AltlMI.M III' 11111.11' MOIIKaT IllllKAl III' IIHIIIHAIN " Koetii'.'JC.f lit Hull. hlluueiiilila til Nl.tl hlff n( llur.'.lu (loljer ,11 u;. llll I.H K'clvr.l "...a (it) Hall ( 1 . 0'ela;E in ,,. , , .-. fort WerU iJeninml Cable BAR SILVER SfWKL8 ."!.. .., .""!!. m ... .... im., m. ..w i v ei tersli ssssikMhkslii ' t ., Mintr1- .BLmMJBBLBissssssaK.a.JSi r m. mtHu sMTsssukM ssisw i : Sf - VVhi.fcM.4irtt-H j.;.t..l .. . tf.SJliW r - , a ZX9Wr'inf.r'i.irKu.iiUm Jinss Armlstl:8 Day Legal Helld.t V'eiimlici II iluiiin.teil n Mm j l;w. H i I , .il Imiuiai In i ia stlUr f leimtlieiilft. The hi j HdiUnr this di- wl in u.l ui I'liai neiiiiy v. a. nnnreieit rner npreu nn Miirrn St. lnJt. The unia vivntnut uhuh aua nna a. mil Da slOMd hi inrt i i.y (love hlladeli nstltutli C. S. PAITOIOTCO? e 4 t IWe? N li ra BANKERS Uni M d AiTmvfcsnM , J15f l uuttM and MM , !W salt. J.Ol IS T. KLAUPER cons' i'iim, i:m,imji:u J'ewcr I'lanta renn.iylvanla IllUjr , Phils. Sen d ifi.pewH li i 'nd In Ilr mil 'Jill iiuen, Irldui, .Nniemher li'H'JIna A4(.l4'l I'klltU ( uifllit runleil rltiii.u Hand l.ilin .tena Dun I AM'hMtli ( uini nt Auleiar Inieki, Ilrn t fade for It' nr Sire. I Mrl hheie'e 'lit il CiieU un 1 Unit w liner (.ape ritAS'i; it. cwci nit.cir . w. ll!.l"il(t:M ill it A'lllCM.IH II, I , AIIMH'I I.TDRK. lie, le. luZ',tii -Vk -iWiat, M.U ' J. . SMfsUs'WtaAite ''l 'r i1." siui1, a' I"11 L'iriiii,iA untu I?5! '; m nv w Mi a i f v I n M mssm au 'twaM- M iu. -...-rr 'i
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