m
1
m
nmsmtiKs
m
m
w
6 .-.! J1 f-'. PriL Z-t-j
cm;
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T.f?mrB
VTfl
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&
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 $100
8 Cumulatlvt, Pcrticlpatttit, Fnhmi Stock
Partlclaatlaf with Cammsa ttaek up 10
Full Paid, Nen-Aegble
Dividends faraMt Quarterljr Tibrusry, May, August. Natamfcer
eeunU Net Werth 750,70,73 Valuation of AmMcan
Appraisal Company. Net Earnings Yearly Mers Than Thrss
Times Dividend ntqulieme.its.
Purnnse Te Kspsr.d the Already Lars Business and
Take Advantage nf the Building Beem en In Philadelphia.
and Throughout lha Country.
products Bell Pips. Different Types of Fittings, and
All Kinds of Plumbing Specialties.
THE STONE PLAN
of Investment Service
4-POINT SECURITIES
1 Safety f Principal Managed by Steae Engineers.
2 Suraty of Dividend Guaranteed by Stabilising Fund.
3 Quick Convertibility Resale at par upon request.
4 Profit-Sharing At Retirement of Preferred.
Te Rath-ad at a Premium of tt02 with Accrued Dividends
and ' shara of eemrsen stock with each share el Preferred.
tn Over Six Years Net a Slagte Client nt Thousands Has
Evar Le.t a Dellar el Principal or Dividends Through Invest
saeat In Stene Safeguarded Securities under The Stene Pan.
Write er Ceil ler Full nerasstiea, witaeai OMtgetisa
H. A. STONE & COMPANY
Widener Building, Philadelphia
Spruce 71834
iw
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nrjnusiTimijiiiiin
S
ura
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f'M m 186th
Wml
WmkM
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rijfznL ,,nA Surplus
nfMrBSS tf$k Reserves
i ssbbbbbbbbbbbbHcVsbbbbbbbbb
r BwW NATIONAL BANK :gg
y CEmBFMML "Always Commercial"
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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'.
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ion.
10.'. 4
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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'
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1211
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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
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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
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