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?' II Our August Investment Suggestions will be sent to you on request for AK-410 A timely list of histh ?rado BONDS yielding from ).!0'"i ;?. 9.2:2% ! The National City Company I Main OOco: Nations] at? Bsnk Building ' L'ptown Offl-;e: i2od St. & Mad. Ave. First Mortgage Railroad Bonds On application we will send lo investors our current list of conserva? tive first mortgage rail? road bonds of: Reading Atchison Union Pacific Southern Pacific New York Central Baltimore & Ohio Chicago & Northwestern and other systems. Yields from 5.20 to 8.25?/, 0 Founded 1797 Seasoned Investment? 30 Pine Street, New York White, Weld 6c Co. i 4 Wail Street New York 111 Devonshire Street Boston Specialists in Ohio investment Securities Stocks Corporation and Municipal Bonds MEMBERS OF Sew Yorl: Stock Exchana* fiotton Strick Exchange Cleveland Stick Kxchang? Chicago S'ock Exchange Detroit Stock Exchange H?V> York Cotton Exchmig? Chicago Hoard of Trade ? Otib *& Co. 49 BROAD ST., N. Y. Phone: Broad 2/21 Cleveland Button Detroit Cincinnati CoituBSot Toledo Akron Youngttown Denver Colorado Springt Robinson & Co. Investment Securities 26 Exchange Place New York hitmhers Neu York Stoc?( Exchange RAILROAD BONDS %tmtt&Wl)ittli> S?UfeH?b.d Ml?. Member? Ne? York Stock Exchtnf 52 Broadway New York Guaranty Trust Co. Chase National Bank M-.CLURE. ?OWES&REED Um ?-? ? .ft\0 /?rfc *?*?* M*ehm*?e 11$ tlren?tlvt*T fUurin 3321 R?et?l New Shoe Style in Pari? Faabionab!? wom-n in Paria ur<-. wear? ing *k?>?a with ?ti'.ching* and buttons U> matea their {?own*. Trading Dull In Irreguar Stock Market Prices Move Within Narrow Hange. With Trend To? ward Lower Levels; in? dustrials Offered Freely The stock market dragged through five Intensely dull hours of trading yesterday in what was one of the most uninteresting and unimportant ses? sions in weeks. Less than 400,000 shares of stock changed owners at the exchange. At times during the day '? ' ' were no transactions for the stock tickers to record. Prices moved irregularly and nar? rowly most of the day, with the. trend toward a lower level. Professional operators, who were completely in con? trol of the market, made somewhat freer offerings of a number of indus? trials, particularly those over which there is doubt as to the future of dividend payments, with the result that here and there some rather sharp dips occurred. Such movements, how? ever, were not impressive and fniled to produce liquidation. Pressure continued yesterday against ?American Sugar, while selling broke out in the Pierce Arrow issues, the preferred stock of the latter company yielding more than four points. Around the opening Studebaker suddenly de? veloped a tone of pronounced strength, j pushing above 80, but the ground gained was almost entirely canceled ; in the subsequent dealings. Rail shares, j ?which a few days ago made a favor-1 able response to recent accumulation, j were kept in the background. Tho day produced comparatively lit- '? tie in the way of news developments I with a bearing upon tho market. The ? foreign exchanges exhibited a much i better tone, with sterling showing a ' pronounced advance, which carried the London rate up nearly 4 cents in the j pound. The movement here is of spe- ' cial interest, in view of tho fact that j it became known yesterday that Ger- | many has resumed making reparation j payments to the Allies in dollars and this week has ordered approximately ??.OOO.OOO to be turned into the Federal Reserve Bank of New York for the account of the Bank of England. When the first reparation payments were j made in June they caused such a com-1 motion in the foreign exchanges that! tho R?parations Commission announced subsequently that the German pay- j ments would in the future bo made in ' other ways, bo as to prevent further demoralization. The payments now being made are in anticipation of the ?180,000,000 duo on reparations ac? count on August 31. Wall Street experienced firmer money rates again yesterday, and after renewals had been made at 6% per cent the rate on call-loans climbed to 6 por cent around midday, where it held until the close. In the commodity markets cotton was higher, while wheat prices yielded substantially. Money and Credit Call money advanced to 6 per cent yesterday following a renewal rate of bVi per cent. Last week call funds loaned as low as 3% per cent. This is believed to have caused the with- - drawal of deposits here by interior banks, as interest rates are higher in ; the West. Time money, however, was ? unchanged. Tester- Tear i day. ago. I On Jndust'l collateral. 0V2 7 On mixed collateral.. 5Vs 7 | Time ffioriev (mixed collateral) : Sixty days . 5% @6 8?8 ' 2 ety days . 5% @6 8@8}? Four months . 5%(S 6 8@8H Four to six months. 5%@6 8 5 8 ' 2 Hank Clearings Bank clearings at New York yesterday v.cr^: Exchanges, $627,400,000; balances. $09,200,000. Silver? London, 38%d; New York, ': domestic bar, 99%c; foreign, 61c; Mex i ican dollars, 46%c. The Dollar in Foreign Exchange A noticeably stronger tone developed '' in foreign exchange here yesterday 1 and rates worked steadily higher as r.lTcririgs of rornmercia! bills were readily absorbed. No explanation was offered hero for the rise in cable rates on London from $3.56 13-16 to $3.60 but the advance was believed to be cant, Continental rates moved in sympathy 1 with sterling and substantial gains were recorded in currencies of the : principal Allied nations. Gorman marks were slightly firmer. Kates on'.South American and Far ] Eastern centers were firm. El'ROPF, ToBtor- Previous T-ar flay. day. ago. OBEAT T?RTTAIN (par $4.81 a ?overr 1 ?n> Demand. 3.59% 3.58A 8 62 ?.80% ?'? 56?J - ? 60-day bills. 3.55% 364 56 'iil-ilav bills . - . 3.6 1% 3 ' .", ? ??-.?[?: (par !Q.l ? nnts a f - ? ? and . 7.78'"? 7.6 _ Cabloi. 7.77 V i.l 7 2% . n m ? : .. : 19.H cents ? f ..i , ... 7.42 7.32% 7.80 -. 7.33 7.SI ?VITZRRI AND (pnr 19.3 c?;nta a fraud nd.'.'? '-? 16.43 l'i 97% .16.59 16.45 i T 0 H i i-.\ LY (par is a lira) .ml . * 33% 4 20 % 6 "1 ('??.lei?... 4.34 4.21 6.0J H? rl.l.A*. 11 (pal 40.2 cents a florin) Den and .30.58 30.44 .13.00 Cable? .30.60 30.4? 83.12% GKRMA.V? (par 23.8 rTiU :i mark) D and . 1.23% 1.21 % 2 31 < . 1.23% 3.111 % 2 21 ?lUSTRlA (par 20.3 <-.-ni.". a crown) Dun and ....... .1 : :a .11% .50 Cabios .12 .12 .62 NOItWAY 'par ?6.8 ? i? riti a crown) I ?, ? and .' 2.88 1 2 58 15 ?;> ,....12.73 12.68 ?-? V. HI >RN i r :>r 26.8 ? i nts :? ? ? Demand .20.40 20.1 20.3! C ibl' ? .'?? li? 20.30 20 45 [ARI (pai ? enl a crown) 16.25 15.15 : 13 16.30 15.25 enl? ?<? pesel I . 1 . . 12.75 14 ? 1 ,. 12.89 12.77 14.96 I'i ;i:y i 11 a :. ? par I 8.05 cent? ? ? scudo) l.. ? ..,;.', ... .1 l Mr 11.60 .11.76 ?1 '? - 20.50 GKKK? K ' ira 19.3 ? rita a di ach?n i I Demand . '' 50 6.61 12.30 Cable?.5.55 6.66 12.35 : l'Oi.AMi < ; .? ? enta a mark) u : .06% . 16 .48 . ,06% .06% .60 IZi;''.1!" -1,'iVAKIA <l>ar 20 3 ceiiM? a ? ?.. , Di rnand . 127 1 25 3 9? ('able? . 1.38 1.28 3.9H .7 TOO H//AVIA (par 203 cents ?? crown) i. and . <-'?. .60% 1.33 ...... ? -. 57 3 35 ?A (par 1 l? ? ? (par :' I AH BAhl CHINA (Shanghai par 100 39 cents ? taed) .,?-1 . 69 00 '.'i ' -, ,... .09 50 69 50 108.26 . .\ (Hon? Kon? i ir unsotUi d, ,,,,! 50 '.'i 60 50 76 ?0 ... .-.,. .'.'. V , 7?. 70 I ? par li * c?nl? ? ?*?ni . . . ,41 ?7% ?8.37% 61.12% Transactions Yesterday in Listed Stocks Summary of Stock Exchange Dealings (Co'pjTlrrht. 1921, New ^ork Tribune Inc.) STOCKS T.??, ,r)av Y<-ar .Unoarr ' to date. ? , j . , ?enterday. before, asro "921 192'i iq-*o Kmlroad stock? . 47 700 to i?,- .,,,_' ls<iv' " Other slock- poinon ,!M?? ?4,700 21.062,300 35,207.100 57,316,500 All .taifa . Shoo Vr,???? 963'700 82,416,600 103,975,100 123,816,200 . 338,900 006,9?:. 1,098,400 103,478.900 139,182,200.181,132,700 Tes. BOVDS Januar? 1 te d ,te. ' L?^N??":! .'0nd8 ?f|?r?' S?' ^"?^%1,2,0,31?000$,,313,^OO? Other bonds . i?I'nSS I'8*1'000 2,136,000 271,386.000 313,448.000 a?? . 1B3 '1? 3,867,000 2,197,000 395,762,000 416.510.C00 ! _- . 11.851,000 11,514,000 11,374,000 1,907,416,000 2.263 472.000 I Record of Stock anil Bond Averages (Copyricht, 1321, New To-k Tribun* Inc.) STOCKS Itanjr?? .Tan. 1 to KartRe foil Tester- Day Year date. year 1920. day. before. airo. Hi?h. Low. Hieb. Low. 20 Railroad stocks. 65 30 65.65 62.90 66.60 57.40 73.80 58.60 30 Industrial ?locks. 56.39 66.56 83.87 79.13 63.53 110.30 67.67 50 Stock- . 68.06 66.18 75.48 74.12 61.08 92.05 64.30 BONDS ?0 Railroad bonds . 75.28 75.21 71.61 76.20 71.01 76.97 66.73 10 Industrial bonds_. 81.88 81.35 83.43 84.53 80.45 91.45 81.30 5 I'tilily bonds. 74.38 74.45 69.00 78.70 70.13 74.53 67.44 25 Bonds . 77,74 77.72 75.33 78.41 75.25 81.71 73.94 Rieh. 1921. 39" '2 1'/:' 13$ 55' s 30' .? 84 .32^4 114 133b 579-4 65 53' ,} 621 2 91 Va 1071 ? 10 14 31% 96 IO71/4 Low. DI?. 1921. in$. 19 ? 1 35 28% 56 28/z 108 8 40' _> 57 29% 21 73' 2 98'4 4 6/2 24 631/4 851/4 403? 953/4 111' -, 1? 87 57 22, 108' z 129^4 94 82'4 39' ? 10 43! 2 V. 35'. 2 '55 871/4 981/h 891-4 76 44/2 233i 1125 110/2 103? 94/4 62' 42% 62'/2 65 831/4 147-8 72 /2 6 1534 28 Ajax Rubber Alaska Cold Mines.. 200 Alaska Juneau . 200 Allied Chemical .... 500 Allis-Chalmers .... ~00 Amer A<rr Chem pf. , 200 Ameriten Can ..... 1700 Amer Car fi- Fdy pf 500 Amer lud?- & Leather 200 do pf . 200 American Ice pf.... 200 Amer lntl Corp. 1700 American Linseed ?00 Amer Locomotive 2400 do pf . 100 Amer Safety Razor. . 700 Amer Ship 4 Com... 200 Amer Steel Fdy. 200 Amer Hnjrar . 16900 do pf . 200 Amer Sum Tobacco. . 600 Sale?. Open, Hijrh. Net chjte. Bid. Ask. 2:,, 22 23'/, 33% ? 1 ? 24 4 55% 6 76/4 6 77 6 77 7 18 ? 15% ? 12'/2 2/ 820 ? 8 7 Amer Tel & Tel. 1400 105% 105/2 Amer Tobacco . 200 123 123 do pf new. 200 90% 903j Amer Woolen . 6700 69% 71% Amer Wilt Paper pf 200 23 A nier Zinc . 200 8 8 Anaconda . 700 ; Assets Realization Co 200 ' . |i/2 As-so Dry Goods. 200 30% do 1st pi. 100 64 64 Ate Top & San Fe.. 1400 85% 86 do pf . 200 77' a 78% Atlantic Coast Line. 100 87 87 Atl Gulf & W I.... 8700 22?s 24-.; do pf . 1200 20 23'4 .Atlantic Petrol .... 400 13 13 Atlantic Ref . 2 950 950 do pf B. 84 84'. 2 83% 84 - 100' g 100'8 100'a 1001 8 50 100 107 305/, 391/2 411/2 87 Wt 51 4 10% MIA 19% 64% 7/2 53 119/4 43/4 96 32/2 96 65/2 2078 31 46% 71 34% 78 61 ' -? H/4 61 g 3 S ? 39/4 12% 62/4 63 ^2% 61 21% 10 ? 53% 41/4 ? 41/2 110 313; , 66/4 ? 23 47 46 14 22 32 60% 22% 68% 56/a 9 36% 19 27/4 ?'?: 1 17% 52 283 4 29/4 14% 42 I! 2 vz 5 76 447 107' \ 91 ?"B 26 67% 249 2% 4% 4034 69/4 15/4 83' , 29' 2 90 19% 5?4 78% 62| a 138% 16% .82 44' g 79/8 ? 32' a ' 25/2 ; 26 ; ^8' ? ; 60% ! ci 86 98 7/a 1001.2 171/4 63% ?2 73% 17 26 4% 29% 52 22% 59 25% 51 77 127,-i 6 Vs. 19/ 176 37! 4 52 11% 44% 21/4 75 40'4 54 116 91/2 70/a 26% 60 25% 18'4 2C Baldwin Loco ...... 6900 7 Balio ?: Ohio. 1600 3 Bethlehem Steel _ 200 5 do Class B. 3400 5 do 7% pf. 100 9 Brooklyn R T. 400 1 Brooklyn Union Ga.v 20C C Butto Copper & Zinc 200 Bulte & Superior Cop 200 1 Butterick Co. 1200 2 Caddo Oil. 200 1 California Pack in t.. 600 ? Collahan Lend & Zinc ?00 Calumet & Arizona . 150 i Canada Pacific. 2100 11 Central Leather.... 49'.'.0 : do pf. 3700 ? (erro De Pasco. 300 S Chandl-r Motors_ 12100 t Chesapeake & Ohio.. 500 ! Chi Great Western pf 200 Chi Mil & St Paul 900 : do pf. 1200 1 Chi & Northwestern 200 I Chi R I & Pac. 3400 ; do 7% pf. 400 do 6 6% pf. 200 I Chile Copper . 900 Chino Consol Copper 500 (oca Cola . 2200 : Colorado & Southern 200 Columbia (Vrapho... 1400 do pf . 200 Columbia Gas & TCI.. 200 Tomp Tab Rec. 200 Consol Ciffars . 100 * lonsol Textile- . 200 Continental Can .... 200 Continental Candy.. 700 Corn Products .... 1200 2 Cosden & Co. 2400 Crucible Steel . 410-0 do pf . 200 Cuba-Amer Sn-rar .. 200 Cuba Cane Sugar. . 1?00 ,1-? rf . 200 Del Lack ? Western 225 ; Denver & Rio (irande 600 do rf . 300 LIU Hirn foal pf . . . 100 Endicoit Johnson . . 1400 Erie . 1600 Famous Players 5200 Fed Min & Smelt pf 100 Fisher Body . 500 Fisk Rubber Tire. ... COO fla-ston Williams . . . C00 General Asphalt ... 16700 General Ciirnr . 100 On Elcc Co _... 2100 11?'/, 119/a 118/a 119/24- 1 200 -f- 1 199 1' 4 50' 2 4 40' a ? 47 ? 85' 4 7 3% -? 7034 5 9/2 ? 42 6 28 ? 43/a ? 9/2 ? 2% ? 18' .- ? 45! 3 4 16 ? Ceneral Motors .... 5700 (?en Motors 7"', pf. . Goodrich, B F. 200 (it Northern pf . 9700 do Oregon subs ... 200 Greene Can Copper. . 200 Gulf Mo & North pf 200 (,ulf Sta'.es Steel. . . . 200 Mask & Bark Car Co 1200 Homestako . 200 Houston Oil . 200 Illinois Central _ 100 60 Indiahoma . 200 Inter Cons Corp. . . . 200 Inter Harvester .... 2400 Inter Merc Marino 200 do pf . 200 Inter Motor Truck. . . 1600 Inier Paper . 1400 Inter N'icliol . 600 Invincible Oil . 600 Island Oil . 700 Kansas City Southern '600 do pf . 200 Kennecotl Copper . . . 600 ??z 103,; 10/2 103.1-;- '4 57 ? 1 49% High. Low. 1921. 1921. 54% 34 94 70' 4 17% 8y4 581-2 32 2934 171,2 211 - *0 1^;.i 8% 118 97 59/2 57I/2 55 83' 2 34% 7 3 S 38 3?A 87% 153* 10 ??'/a 65 2 16 64! a 5r4 20 s a -14 I3? ? 16 S3':, 541 10 12 30% 19% 148 87 16 91, 85 58 54% 275.8 1934 8/2 46''4 27'-, ?9/2 35?4 32/4 6% 9 57% 33% 23% 15% 35'/2 28% 31! 2 16 42/4 1334 SS 23 11% 6/2 ?'s 45 64% 62 32 24/a 90 56 Hi/a 89/2 51'., 25 36-1.4 24% 90' 3 67 15 11 89'4 6C% 5734 38' 2 73'4 41/a 39' 2 18 69% 46% 5'/2 2 19/a 62/8 ?i 283n I7% 67! - 24% 1738 60 42 751 a 673* 167! a 124/2 110 105% 82 70 46 263 4 9.3.% 43% 10% 4/4 13% 25% 45 ?-'!'? 2 6 | 60/s 91 13 4% 29 16! ? 16% 45 76'-o 6% 60 17% 111 62'4 54 9534 15 48 58% 41% 62/4 43 793/4 -17% . 91/2 86 ? 70% 105 59/2 453.? 12% 8/4 4 i 25' rt 42' a 203.4 9/* 24! 2 13 70' a 49% 11% if,i . 17% 44 ?9% IO/2 5% 117' 2 IO8/4 9'.! 6'.. V.X ??M e% 8/2 6i 41/2 13/a D?T. in 1. 4 Kelly Springfield . . . 8 do 8s', pf. ? Keystone Tire . ?? Lackawannn Steel 2 Lee Rubber & Tire . ? Loew's ?nc . 1 l.ofl Candy . 7 Lorillard f* pf. 6 Mackay Cos . 4 do pi. Man ai i Sugar. Market St Ry. Maxwell "Motor B..., ?I? A . d?> 1st pf Ctf.S . . . Mexican Petroleum 2 Miami Consol Cop... 1.60 Middle State? Oil. . . Midvale Steel. 7 Minn St P & S S M. - Missouri Kan & Tes Missouri Pacific. do pf. Nevada ton Copper 5 N ' Central, . 5 N V Chi & St I 2d pf 2; . \ V DiicU. 5 do of. N V K H & H _ 1 S Y Oui & Western 7 Norfolk .V Western. . 5 North American . Okla Prod & Ref . . Ontario Silver . 2 Orpheum Circuit .... 8 Otis Elevator . Otis Steel . 7 do pf . 2 Owens Hot Machine. Pacific Development. 5 Pacific das & El. . . 5' 3 Pacific Oil . 6 Pan-Amer Petrol 6 do B . 2 Pennsylvania ft R. . . Penn Seaboard Steel. Peoria & Eastern. . . Peoples Gn & Coke Perc Marquette .... 3 Philadelphia Co .... Phillips Petroleum . Pierce Arrow . do pf . " . :? OH . 8 do pf . 5 Pittsburgh Coal .... Pills & West Va_ Pressed S-rel Car . . . 8 Pullman Co . Punta A?cgre Su?ar. 2 Pure Oil . 8 Railway Steel Spring Ray Con Copper. 4 Reading: . 2 do 2d pi. Republic Iron & Steel - Replogle Steel . 5.20 Royal Dutch . Sania Ocilia Sacar. . - St I. <fc San Francisco do pf . St 1.011 is Sowest pi. Sears Roebuck . Seneca Copper . .74 Shells Tr & Tr. Sinclair Oil . 6 Southern Pacific .... Southern R R. - do pf . 4 Stand Oil of Calif. . 6 Stand Oil of N J. . . . 7 do pf . 7 Steel & Tube pf. - Stromb?rg Carb .... 7 Studebaker . - Submarine Bo.it .... - Superior Oil . - Tern tor Corn S: Fr A 3 Texas Company .... Tenas & Pacific 1 Tex & Pac C * 0 . 6 Tobacco Products . . . 7 do pf . Transron Oil . 8 Union Bae & Paper. . Union Oil . 0 Union Pacific . 4 do pf . II 1 nited Drug-. 8 Iniled Fruit. IS Pood Products. . 8 U S lr,.l Alcohol. . . . US Hoii?v & Imp . . 6 United Retail Stores. United States Rubber 8 do 1st pf. 5 United States Steel . 7 do pf. 2 Ikih Copper. I tub Seiur Corp. . . Vanadium Corp. - Vir-Carolina ('hem.. Vivaudou ... . Wabash pf A. 2 Weber & Heilbroner. 6 Western Pacific pi.. 4 Wcstinghouse Mfg.. Wheeling ?Si L U 'H> pf. - Whit? Oil. 4 While Motors. Willys-Overland _ 8 Woolworth . .55 Wright Aero. iden.-I. 40' ;; 6% % 107% SOL 112% ' ibles. 48.62% 43 i*>2% 61.37% ;;?-?> ,-? - - .?- . ... | rupcu) i ii :. and .r- '? ''i 23.25 S 00 Cables.52% STR '.r. ? : l !.:. ii . ' C.S cents . ? ' : 50 4f,.ori Cabl? ? 42.71 4:'.7., 46.76 '?HI': A.MEBICAS i . ? : ? ? ,, - : per p?so) 2S.76 28.62% 38.90 28 75 39.10 3 ' . its a paper rnilrelg) ].. 12.37% 23 62% 12.60 21.75 ;.. ... : 4.73 EC l" A :; tan ere) 5 27 v-l . - .i ?,?:?> 10.00 18.37% : i.i . ? ; : . ? i . ? eso . ? i 59.12% \ ?.-?? K/ril'. -, (par I cent? Cheel s .16.13 16.1 Cunudian Exchange New York fui Montreal, .'.':;a per cen? p iu . Montreal | fui da In Ni w Voi 10% per c? m discount, ? London Market Irregular LONDON, Aug. 4. Prices moved ir? regularly on the ?stock exchange) to? day. Bar gold uns quoted at 'l?s Id; money was loaned at -'i-'S per cent. Dis? count rates were: Short bills, 4 7-16 1 per cent; thrre-monilt bilis, 4Vi per cent. Closing quotations on stocks were: ? money.. 4 '1,1 ?lln '... ' '? It Iah I . - - - '. M K .';? T. i 4 M % .Si ? Monition ? : . '.? : ? . ! ?; Dalt &. Ohio. . . - . ' mt ,v \\ ? ? il - ; .... idlnn Pac I Pom ylvunla , Chess fi- Ohio. .. i'l R< ..???? . OS Chi 'li VV? Bin Houthn It; :? Si Paul ... . 39 \S luthn I' .?- . . .110 Den ? ni? | Ird . .. I i I? n Pi i ' ? ' l-;rlij. 3-1 Dntd ?-' . '? - ' 105 do 1st pi. 23 De B? ? rs . 10% (Iran.) Trunk... 4% Rand Mines . . 2% III Central 131 Paris Market Quiet PARIS, Aug. 4. -Trading was quiet on tho Bourse to day. Three per c? tit r? ni? s, 66 fri n<-s 35 centimes. Ii?xi on London, 46 francs 60 centimes. Five per cent loan, Hi francs 45 cci ' n ?| he "i liar ???? quoi 1 at 13 fram ? ? i ? me . Stocks Ex-Dividend Date. Com] in i ? I -.,,-- ? Fluff Roi h .: Pitts Ry Co i a u? " 'in pf .... ..... a A-il? '. ' ''..m ado Fui i f. Iron i lo pf ! ? ,,- i Di i. Lach fi W, mit .100 Aus r m Contrai K U . i \ Am- .' t. f?.i - ? ? field Coal pf 2 :.. / ug ' Union I r Corp . i *t ?U(C ?? do pi . 1 ** Bid and. Asked i Following: are the closing: bid and ! asked quotations of stocks listed on the ' Stock Exchange in which there were i , no transactions yesterday: R] : Asked. | Bid. Asked. : Adams En> . i1 44?1 Chlo r Toi ' 49% BO - Adv numl . . I ? ' C C C & St L 38% 41 lo pf. HI 50 .?.i pf. . 00 64 vn im rable.104 l06%!Cler ? V Its : -'-'. 0 M Mil Rea Vi ?' ti .- ly . 19% 4.1 ? a 0 Dye pf. R5 v7 do ill dial * '?I i H ist of ;o Vm An Oil.. "4*i I pf. i- ?. ? -' Clear I 78% Con i , ? ,. ? ? \ o i'o i . - u- ? no 1,1 ? . 70 M > '.'.'' - . Orel Carpel i 5 50 1 -, It S A 1 41 18 Cull A'.i S Vf. 74 811 lio pi I'av Chen 34 3H Vm Can ? ' ft] - : l>o Ueers \ i l)i ere I Dl 6 I .. p 0 iRi in ?el & Bud 101% ' .. ?i.-: Edison 19 93 ?,.. Dr?i? i% '. ' &?,SIa0 '; ~ AlU Kxp . 118 122 mVi' n H -n Am lili, < I 'l'-. II'.. ' ''? ' UK..?- ? " a ? 9 '' '"' M '' ? lI.. v'-' Mil 'HI pf! Malt & a 11H l - m"0 .%' ' ' :,, I"ii A SUP .. - [lurliam llv 20 30 do pf . 70 83 ? iVY'-i ?? E.s. K ..;. Am Si.-i'T 9 i 10.1 . ''" 'J. i Pi \ ? :. il S II ?\ n I' M ', ? ? ?? ' i ' . \ ! .-, I irlior ? ', ?? Mi a Atim - ' II pf. 97 107 I P : II All I BVi 45 ,-',.,.,: Asot, ,.' - Amo Salea I! ' '""' '""""" ^ *,'s 1'"' no pf. |2% 13VJ lo 1st pf H '. 86*4 I!, | i?.. , . : , ..-?;?' Mol pf . 05 i". Han 'i l.- ., m ?-. Uli i -i O pf 20 ,1 , .' . -? h liv M ,17 21 ; . : Rende? Mf? 14 do h . . \r,\ ?% n i ?"?' i f ?? : t ?1 .1 . I: iilan II- f . 7 -? V Ilk i i C u pf. im UJi HI |) [l t , ?? . ? . ? Ini A?ric . . Un ? n (41 - 29 i 41 , ?'?', P' ?' ? ' ? I , ,.f r-, ^ llni H?r c . 100? Id Air, I -, IV? v ;? ', - !" " MUI ? ' ' 111 Am I.ln fill ,.: KS ,: ? !' ," '. S AT. .? ? 4 do Df. . - 5% il - llator . G Am H Ha? 4't i"s Am s ? Il pf, 70 71 St or ?1 ,. . Hi rn Km llrant ? lo pf. 111! - Pf I 111 ?? a rni I M & ! -; '1 '.?;;-. II ? || .. I 70 ?, '." '', ,,r, ii, pf r<o ' ' "M ?>' ? I, .? a n lilt I'apcr pf. lo o '1, 10 i;,4 < '? V 14 pf I I, '. J.i;o | id "*! ? .1 r Corp . : a . ? ,' . Mpri ;?? Id pf 70 ' '?? ' Wheel A I '-, ; .. do Pf !? |2 Jieok & H .M r .'. i; ii i i% do pf lo pi fi 7 Krmge i ?- ; w p( :"i ion di -?' c -i I' 11 o 50>,i 6 ? i. ? i do pf. Vi fci) ii. i-i f ...... . T*ltta rosi ? ? I, M A W:-'. 11% 31 '? I-I W A .'.11'? .n pf ..... m ..; .'.us Steul pt . >.-? Hub & T 27 !;7% Lnhlgh Valley 52H S3 Um & Mi ers. 14". 3 do pf .... 0:1 3'H do B .140 ? 152 Lima Loco .. 84 ?R do i>f . s: -,.ii !.. VV Biscuit, . 32% 35 ?lu 1st ri". ? ? 05 99 : . 2d pf . B3 115 T/-rlllard . 50 152 Louis & Nn.sh.lin-.; 112% Mitllinson ....12 U 'lo pf . 54% Mn hat r;.T.. 4-1 .. ..,.., . , . . ... ,,. . I ? lo pf ., 10 do prl - ;,, nul ''-. l i ?.. 1-: ? M II A'.. W. 10 M.. Mol r lo ist pr ? ?i" 2d pf . , Mi.-li Cent MSP&HS.M 1 1 M Mont Power. . i. la pf . 1)4-14 Motit Ward . . !" j Moms & Eg?, .-t Mul Ins Body. 19 do pf . v-?-..'i & Chat, f>i? N'at A tob ... 14 N ' Biscuit ..114 do pf .. .103 n ' ni & sun .-? ? i ? pf .... N' C'il & C 1 n ni .nu & si tr 1'.i-i.l Crk O al ; ?l,' I5V? 1 u- pf. >,:: lui) P S C of N J BS ?~';<. H?- ; Sertir . ' ? 11. ! S] L' p| .? . Hand Mines .. 10 Reading 1st :>f 39 4') ?u-) ,v ?,>. . .; t ??> ist pr. . 40 Rera Typewrit. "': ? 2 pf... ??-. ? 0 ... cl of... r.. ?v iRep t /?.'H pf 81 Sjt' .. . ' Hep 7*111 v. . , Il -.?...;.? - 11 u .. -.... ? .', 1. ' .'-??. A 1 lo pf ..;<". ?? n . -ju? lio pr . 1 - il :.-..- : -u : 1 0 r>i ".1 I Ml -11 ??; 70% 77 m -i n -os pf ion r pf. 92% 95 ? ?'.. ? s- . : pf n '..;i; ?;? .V- P 1,1 Tr " -' : 00 Tidewater Oil .115 1 0 ptl.22.'i Util TSt.1 <S W -, .. 11 ll'i ..iTr.ins?^^H 1-n... ;..!.? R? 10, ,lr.^^^^^_ W ;- r.? Cltv R T. 40 ?la pf l."nd Tvp? ???-:? ? ? . 1"' 11.-) ?i mit 11(1 70 : , X al it.i N I! ? ' ; p 79 I I ' ? . ;? N 'i T A- M N Y Ali 11 YC? II, 1 p| N Y I. .'. W . ' !? Il I P & F 14" ?'.-? I ' . . ?! ? ? -: ft r. ???? - - : ? - th . ; ' ''i e 1 pf 7*1 v-' Ni rf & W pf B4% orVi v" ''?'" '"' n ' ' S fceotia Steel 21 :'- k Wal ash pf B ! 1 I" ?\ in \v- ? Maryl ind in loi', Ohio II *ly ...7% R do pf 11' 01 ' 1 I--11-1 ... il A{ Wi ? Mr Hl.- --'?? ?" -?? 1 .. -. pf --, ;. 1 ?' ? Upen . 10% 15% Pacific Coast . : I 30 "?'"? ? ">??* r' ?"? '-' ? il 11t .. 50 100 VVI1 11 n Co -. :r' ? ilo :l r.- . -:i 50 do nf ...70 Pacifie Mail. -< 10' 1 " ? ' - "-?' '" ' "i:i l'aeirio T Se T 47 - rartl 1 ' 1 Pari 1 * li" k D?? ; : ? <a ???? Pump ? Ma | pf. 40 41 1.. r' A pi ' . . ? fl I -? Uruguayan Loan Approved MONTEVIDEO, Uruguay, Au;.-. 4. Clio National Executive Council has approved the accepl mee ":" a loan of $7,500,000 by North American bankers through the National City Bank of New York. Tjiis loan to the Uruguayan government would mature in twonty live years. $3,000,000 Radio Station for Poland Is Arranged Representatives of the Radio Cor? poration of America and of the Polish , Ministry of Posts and Telegraphs yes : terday signed the final contract, which ' will insure for Poland an international i high power radio station of modern ?type. The new plant will be situated near Warsaw, and it is estimated that | the complete project will cost about $3,000,000, rhe radio s; stem *-i be :i ed is t lai which lias been standard? ized by the Radio Corporation for transoci anic radio communication, rhe ' r I hipment of radio apparatus ave the United Sta tes ;n about ?-ix months and construction work will begin immediately thereafter. It will take approximately one year to co:n | pletc the station. ?'-? Equipment Bonds (Quoted vn Income pen "nt.-ii;^ basis) Name. Rato. Maturity. Bill. Asie. AM Coas! Lino 6% 1922 '" . 5.75 6.35 n ;i & Ohio.. 4 '?, '.? 22 '27 7 50 t, :-, ."?? ston & A. . . 4% 1921 ! i ; o-i 6.50 Buffalo ii & F 4 ... ? 1921 -'33 : 25 6 i0 . Ii ? 7.25 fi. 50 Nat. i 7.10 6 I'-i Canadian ' >r. 4 U-5-6 ; '? 21 ! f 90 i 0 Cana liun l'a I : 00 C I ? ? ? ? - i ' ?.50 i & oiiii -, .-.-?; C H I & v .. 4 ; :, i 921 - : ; . :-, o 7.-, Chic & N W. ? 4Vj 192t-'3o . . ? !. ?% 1925 "??; : ? ?? S \ 'i 1921 -'31 7.25 B.50 Del j H lldson 4 % ?922 . 7 10 Brie . 4%-5 l?21 27 R.25 i ?B do. G l922-'28 8.00 7 25 111 Central. . . . 4 % 1 921 '..7 7.25 6 50 do . 6% l!i23-"36 7 00 6 I" do . 1 1925-'3B 7.01) C 40 Kan City So 1921 '24 7 CO 6.50 1 I.-Mils & Nash ? 192l-'23 7 25 6.7.0 '1. 6% 192 -. 00 6.35 M S P & SS M 4%-5 1321-'2fi 7 - - I 50 . 6% ?-:??..: 7.10 (1.40 . 7 ' : ? 50 .\lii-Ii Cen? 25 fi. 4.1? ::-?] im s.. 4% -, ?. . - -i I It i 7.25 6 25 < . j ? ? : ? : ' - : - .15 ? 1 . .\ '? .'.'.-? ?. ' -, 1921 26 0 ,1 ? . 1931 7.10 Jbi.n0 :.' V '. H .'. I i ? 3-6 1 '. * 50 . 0 . ,-. \V 4 . 1921 ' 00 ?? ? - I'BOlfii . . 7 O 7.10 1. 15 ? .,ii, 1 if, :.-.:.-:, ; 1; ?.to .'?-.- i. 1.. - L0 6.35 lt.'..,lln,r i'. 4 ? . i ?. ' ? 00 c. to Sea.nil .... 4% i-6 1921 '27 H i." 7.25 ?oulhei 11 :'?'?'? 1 % 1922 26 7 00 ' 10 ,1.. . . I922-'3? 7.00 6.85 Southern It-.. 1%-S 1021 '26 7.25 s so ii-,-,h Pac. . ; 1034V36 ?it? 6,35 In Wall Street l"he Uruguayan Loan Wall Street banking competition to j land the Uruguayan loan grows keener ! | daily. Yesterday it became known that : : the Guaranty Trust Company is out to pr?t the business as well as the Na ; lional City Company and the Equitable Trust Company. Indications are, how 1 ever, that there may be a delay in clos : ing the negotiations, for advices from Montevideo yesterday intimated that opposition to the proposed financing had ! developed in the national legislature, I which might upset the whole program. j It is planned, if the loan goes through, ! to use the proceeds in the purchase ' of telephone equipment in this country : for improving the communication sys i tern of Montevideo. It was said yes? terday that the Western Electric would likely receive the bulk of the orders for telephone equipment in the event the loan is finally arranged. Germany's Grain Credits Germany was said yesterday to have ; exhausted all of the ?3,000,000 credit j recently arranged in London for the ; purchase of American grain and has i opened new credits in substantial j amounts in Holland, which will be 1 used similarly. The .$9.000,000 credit ob j tained on this side will not be drawn i apainst, it was stated yesterday, until ) the new Dutch credits are exhausted. Atlantic. Gulf & West Indies Several days ago a prominent Broad? way commission house advised it-* clients that, it might he -.veil to buy Atlantic-Gulf common the same day ; the International Mercantile* Marine report was made public. This was is? sued yesterday, and both classes of : Agwi stock turned strong. The pre I ferred advanced from 20 to 23^4, and ?closed the day 3% points up at 22%; ; the common showed a net gain at the | close of a full point. Just why the ; shares of this company should be i bought on International Mercantile ' Marine's showing was left to the imagi i nation of the trader. Atlantic-Gulf's : annual report is scheduled to be issued . next Monday, and although earnings ; are expected to be poor, it is believed : that the balance sheet will show up well, as was the case of the Interna ' tional Mercantile Marine. Locomotive Exports Increase In connection with the recent activity : in the equipment group attention was directed yesterday to the favorable : showing in tire matter of exports. Loco : motives valued at $4,205,000 wen' ex ported in June, a gain of nearly 100 : per cent over May, and comparing with $4,284,000 in June, 1920. In the first ?>ix months of 1921 locomotives shipped out of the United States were valued ! at $20,700,000. Another member of the i equipment group whose prospects for : business are showing material improve ! ment is the American Car and Foundry i Company. Announcement that orders for repairs to ibout 8,000 cars requir? ing about 37,000 tons of steel have been distributed by the railroads means that ; this concern is getting all the business of this character that it cares to handle. Additional business is expected so soon as the government begins pay | ing- ever to the roads the 5500,000,000 ; due them from the settlement of ac ? counts with the railroad administra t ion. Liberty Bonds in Demand Accumulation of government bonds i continues, and although Victory 4%s ; were .fractionally lower yesterday they j j are now selling at the highest levels j : since early last year. The closing ? : quotation yesterday at 98.SO represents \ i an advance of virtually $3 on a $100 ; , bond. Liberty bonds worked up . slightly, and are now selling at their i est prices for the year, as a rule. United Fruit Dividend Prospects Before sailing for Europe yesterday Andrew W. Preston, president of the , United Fruit Company, said that $1' a ! share was earned on the stock during ; the first six months of 1921. or $4 a share above the full year's dividend re '. quirement. He was non-committal | about the reported investment of j United Fruit in new plants and ship? ping, but said that the investments of j his company in sugar were not yet set tled and that any losses sustained : could not be determined definitely at this time. He denied the company was interested in the United States Mail Steam shit) Company. Daily Oil Production Gains The daily average grogs crude oil production in the United States for the ? week ended July 30 indicates that drill i ing operations are more active than a ; few weeks ago, when output fell off to : a considerable extent. Figures coni : piled by the American Petroleum In : stitute showed a total production for i the period of 1,314,240 barrels, an in ; crease of 6,880 barrels over I he prc ; ceding week. The output of the mid continent field was 712, ?80 barrels i daily, against 706,430 barrels the week ? hefore. an increase of 6,250 ban Prosser Committee to Press Case Announcement from Philad rday thai (1. ? Pros sei ? pri senting common stock holders of ? ie Reading company, has been al? to take its appeal from the de? cision of the ?);- trict. Court to the : United .States Supreme Court, brought ! out the information here that a new - agreement will be drawn up 1 and will be sent to all the junior share : holders. The contention of the Pros : ser committee is that the preferred steck holders should not have equal rights v.i-.1- the common in participat? ing in the stock of the new coal com? be ?"..??nied to acquire the coa! ? ?..? ?', j of the present Reading Com I he assignment of error pre nted by the ci mmittee to the District Court in Philadelphia as the ba is of its appeal raised practically the same questions as were made by the com? mittee at the hearings on the segrega ; tion plan. The committee held the court was in error in not accepting its i contention regarding the respective , rights of the preferred and common ? st( ck holders. Preferred Committee Asks Aid The Pending committee, of which Adian Iselin is chairman, formed to protect the interests of the preferred holders in the dissolution pro? ceedings, announced yesterday thai up? ward of 1,000 different stockholders secuted proxies to the commit? tee. Declaring that the sole object (,?: the committees representing the com? mon stockholders is to deprive the i- shareholders of their right to share equally in the plan of dissolu? tion, the Iselin committee ask> each preferred stockholder to contribute 25 cents a share toward the committee's expenses in fighting the contentions of the group representing tho common stockholders. London Metal Market LONDON, Aug. 4. Standard corner, spot, ?70 5s; futures, ?70 12s 6d. Elec- i trolytic, spot. ?74 10s; futures, ?76 tOs. Im, spot, ?158 2s 6d; futures. ?160 2s Cd. Lead, p ?t, ?23 15s; futures. ?23 7 Gd. Zinc, spot, ?25 5s; future?, ?26 10 . Dividends Stoi '?? holtler? o? [!.,-?? Period.Payable, record \m B Sug pf.$3 50 i.? Oct. .: Sept 1 0 il.in.. -ek M Co, 250 Mo AUff. 26 AUR. 20 Elec Iivt i' I'M V'? Q Aup 23 An?. 12 tans ton M c;?j..t %% q Am;. 31 aui?. 20 Liberty Bonds and Victory Notes Coupon and Registered Rhoades & Company j Member? Nevo York Stoek Exchangt \ 27 William St. New York 1 elephone Bowling Green ?140 P~ "**&"*t^^^Eff "VsJBr ^^^^-^^^EP^Gr ?^ ]. Amer. Tobacco Div. Scrip Central Aguirre Su Mendel Co. Otis Elevator Pfd Singer Mfg Co. ; W. E. Tillotson Mfg < f Cedar Rap. P. 6c Mfg. 5s, 1953 | City of Montreal 6s, 1922-23 ; tji Dominion of Canada 5?, 1937 ty ft Laurentide Power 5s, 1946 !" ? Montreal Tramway 5?. 1941 * Private Wire? to CHICAOO MONTREAL IOKONTO TtL rt*NOVt??4 74>*' I , HErW?f?., NY STOCK aXCMAN? W AND N. Y. COTTON EXCHANGE. GHB*?*4S& *>*&<&** ?H?) We have rirap?r?>d ? booklet denurtblnc tbli i jtr.pauy?the wortd? larirast produ-nr o? gasolina. Its stack la w?n with? in the reaiih of ??-; invfitor. Copu ??ni on request. A?\ for booklet "S-i" C.C KERR&CO. Specialist* in S'andnri OU Socuntie? 2 RaHor Street ?w Tor? Telephone Fecf^r ( SO Genera! Baking, Com. & Pfd. HornftHard't(N.r.)Com.&Pri Yorkville Indep. Bygeia Ice s&one? ?*T?? to 4010 John. It Wall St.. :, ?. CONSERVATIVE INVESTMENTS I Securities purchased outi Partial Payment; or on Correspondence invited John Muir &v?& Monteen Nme Yni ?to*J> ZreL^t Cl Broadway New York I Title Guarantee & Trust Co. CLINTON GILBERT 2 Wall Street, N. Y. Tel. 4848 Rector Gain in Steel Buving Laid to Accumulation Large Orders ><ot Being Re ceived Yel. Says Pr< dent Campbell Spec all 5 OUNGSTOWN, A ig. I - r currei e ? v in the Mahoi ' ?I bj -;- A. Ca ? -? towi She* pany, largely ; o aceui iul*1 ? .; what he ??? and n \ mero, since he is expi i I clines i:? prifc. "The fact that buyers are j - larger ord< ; i'ii nts is, however, an i tl If Of ' ii*' situ stocks are running lov ?? : s'ly of repl* nishing th* gr< ater every di ; ? roads have material, sh ipping ra spikes from '?-? ??. York 1 effort to us.- up a ? ,' new oi I sarily produco new and I ness in the near futui ? supplies are exhauste th* ? ('. t?i ci into the n He bc?ifvoi that an u] iremenj has .started in tho industry, wl ich wi. carry average operati ' ff' during September and Ocl "There is little questi m tl roads wi 11 be in bette ? ' ?' within a short time," I ? Leather Dealers More Hopeful Although the i <? xp* rienci ng a p r od creased i p ate leather merchanls. - reased produ factories, market the time is rapidly a] shoo manufacturers aj? dering leather in n The general indecision stylos and the hesitant attitude wn>en shoe retailers assume toward buying are, in the opinion oi leading ? the potent factors for the : ? shoe manufacturer?* in pla< leather orders for future r* n Financial Items The ' ? ' Ch lO MOI'RKI K Hudsi -. ; ? Chai M ? 1' )? V\ .-: : ' '' ' , * Co., in th Mm Kahn has opened ? :?: Bton* Street, (o .1 ii ehaag-e, fon-lgn b< and ' :..!? .i Stales B. C. Granberry. ot Ha ' " * ^?. tes -.:i.'n on th? - "' :?d to b,> rone for six weeks on a ruflnei? an* plcasuro trip.