lg
"RICE OF COPPER UP AGAIN-COTTON LOWER-NEW YORK BANKS INCREASE RESERVES
BVBNIHq LEDGEB-PHrLADEIiPHIA, SATTJBDAY JANtTABY 33, 191S,
iOKS AGAIN SOLD
ft EUROPE TODAY;
READMSTR(M
pfcign Liquidation Most
pronounced in Union Pa
ific, Erie and Copper
shares.
VnYttf. Jnrii 23. The stock mnr-
tj nealn subjected to considerable
JEafiort wm u.1,. v." li "r." ,...:
:- hAiiaca me cniqi bciiuib ui uum
vi and bonds. This selling wna most
bounced In Union Pacific, Krlo and
il fflDDer Snares aim in huiiiu juw-
SLY slock, Includlnc Kansas and
P1- mi.. a)am, nf Ihn nntllhf? tvnn In.
I Jied by tlio fact that buying of for
S' ' i, nirnlnnt Ihenn flnlpn more
?1 offset the largo exports of cotton,
& tallied further strength In stcrjlim
, demand selling at 4.8l'A and
fife, t 4.84. Beforo tho forolBH sup
5$ of securities nttalned ltd present
Sme demand Bterllng ranged around
ltf4.
jtJUW recession In tho. first hour tho
!SL Issues going abovo the flnnt yes
Kjly In addition to tho foreign selling
'K tnlk of possible International
ffiwllcatlons following the Balling of tho
-tali, nd this also drove prices down In
''(A early trading. Tho total sales for
flu ! were: "Stocks, 133,300 shares;
(BtMMM-OW:
in,,liMil DC til
Outside of this foreign selling about
innlv other supply camo from tho
-Sau traders, who woro energetic in
ffeatavorlng to force a further reaction,
rjw proved too much for them to over-
tHecumulfttlon of Heading continued, nl
'Tk.,,.1, no Infurmatlon could be obta'ned
ilfio the basis of tho persistent buying.
'Vu flock rose 1 to 163)4 closing nt 152i.
intmtm "'the only notublo feature In the
jtcfc dealings, New Tork Central was
FliSQ. In constant uemwiu, uuui uii lerea-
f jam and advances, and tho closing was
jup at 82.
IjJelDlenern cuem ntwin. iu iotj, uunn ja
from the linal yesterday and tho lowest
H .- .nU Im ,., rlnVB Tlirt ,-lnaInr-
ttThB movement In Missouri Paclnc was
Jitjelually checked by tho advance In
r.k . .... aaii, nnlaa Mil-lnli warn li iln.
4 tSB , ft16 -1"'. ,.-, .... ....... ... ..VJ-
Tjnttl They were favorite at 01, Indlcat-i-
tliar nnvment of the full issue of
rtnyiNY) will bo insisted on at maturity
hi' June 1,
KtaMe was a continuance of the nc-
mjii, In SK Pnnt rnnvertlhln fiq whpn
liiiMd, jlW.OOO of them changing hands
mJ single transaction at 102. Thla
&iii4 nfAvnllpfl thrnti-rhnnt the, mornltirr.
,11111 was the most active feature in tho
tend market. The total sales of this
ttie were $329,500.
KTh statement of tho members of tho
flaring House Association for tho weok
ike-wed another Increase In the surplus
rsierve, the figure In tho actual statement
Mug ,17,051.780. while In tho average It
via. 13,613,300. Actual loans also nd-
jtncM $H,S03,0O0. nnd net dematid de-
tlmt deposits In the actual statement
Ver.p27,XK smaller.
'kIS Irregular In tho day'a trading. Cot
ton'CMned abovo the final yesterday,
til dtcllned beforo the close.
MORE COTTON GINNED
Qoyjrnment Beport Shows Increase
of Over a Million Bales.
.WASHINGTON. Jan. SI. A roDort todav ls-
fhiiif the Census Iluroau nhovvs 14.W7.IHV!
Ma Mm erowth nf Hill to January 1(1. 11113.
ttraiurtxl with M.cxL'.ffio tor 10U anil i:i,u,ss..
uv,ior 1.U0. uouna rules mciuueii 1111 year
M WSM. fomwircrt with 1)11.807 for 101 1 ami
law ft 1013, Sea Inlaml Includort 7!.IS1 for
IB!l7a2J7 for 1014 unci TO.T.V for 11)1.1.
uuKoroa vy amies (ouow :
loin.
1!U4.
1,473,134
OllJ.IWf
2,:il4.l01
4SU,:!H4
1,1711, KK
7,sri,tii7
mti.ohi
l.:ms,774
:I3S,273
3,715,418
lit ami. . ,.
innui .,..
Cttrjtl ......
UabUni ....
'Jtetolppl ,.
luflh Carolina
CiMoma ' ...
1,0711.081
1141. (Ml
'.',M,8I3
l:ll.47t)
1.14:t.7i
fCKi.mo
1,H7,4n7
1.4S.1.7IW
:H2.0S3
4,120,1)01
Mitt) Carolina
lltauuee
In
wu ,
ILITTLE DEMAND FOR COTTON
f
iWcea Eeacted 0 to 14 Points at the
Close.
SEW -YORK, Jan, 23. A strong: Liverpool
) ttllrlht.,.,1 rt ....I. nllln ..
MDChMICF hlllnfu Mmhlnail ul,h tl.n ..,..
ii ii..i.T:."..-irr.""5:i" ". m..""us:
It. sMm on tho contraband list, failed
Ct7 r "'Hiineni mvoraoiy lowara cotton
I'Ei't.'.W!. market, although trado reports
S" rail Hlver worn more tncnuraijlng than
") cave teen In many months.
JfJM.DIi the call hero wero 0 to 13 points
Bw) ana ine niarKot reactea in tho
CTlt 111 mlmttan ....,11 ... na.1 rt .nl.. ..
kit months In which there was real activity.
JJJJL '"Jy " to a points above last nlcht's
tc:?T cn mm ,cry nine uemana. ami a
niHr pt over-nlKht selling orders appeared,
ilfcHne being afslsted by pressure from
fm iii-et and Southern sources,
Jje ginning report, showing 4UO.OOO bales
JUctfon Klnnl In tha period slnca tho
ISKf llonlngs helnR the largest on record
IS"M' ,IIlu iwice inose ot last year.
JgjMWjrket closed nt lh 'lowest of the day.
h points from Friday's final figures.
close. Open,
High. Iow, Closo.
. 8.112 K.7S R.75
,. S.fil S.DJ (1.04
. n.oa n.i2, n.is
. 0.21 0.33, 0.34
. 0.30 0.4S 0,48
h'M
K.M
R.7.1
11,00
0.11
0.23
,73
o.no
11.11
0.23
'HEAVY COTTON EXPORTS
9 fXDOrlB Al onlnn 1... ...!. nam A.M
iMmr;;iv -..' vrA'.ift" "."". "." ."
imji.1 '""..!""! s.uj Daies in tne corre-
iftfw S.u. '".?' m,L. '"" n Increase of
sNSi if?,:! These shipments are large and
iffrSS"'"!?1, Rni1 ,h value of the shipments
Kg U eitlmated at over JII.OOO.OOO,
1ST5W fJTITr r.T-r,,
rlw i
jff Per Cent. Eatea Will 'Be in
Effect by That Time.
iim'n'iR0. ??" r-New. tarir,, cover-
-..-.. ., v. ia.va Huinariziui inns, tha K
"'.. decision of the inlr.tx. r.mm
SioS'.'"?i?i,1)'. b'n,c re,clvea at the
SWMtion- t.rfiyVv'u,"K.,K,..,5,, ,e,7
k tho nSKii'0?"- 'l rW w'" filed
E lftL?n,.,,0Tl. -nd the general B Der.
a, 5"" ln territory wll) be In
v' til., Ipraeasea In rates between
ln Vi.f w,PA,.i.n. Cn'f5o have
Srel tliJ' J!)fi with the OommUslon. In
egret taey WU be put nto effect January 25.
SWg Four Postpones Note Issue
sQMjininn r. .. no .. ....
!3asaiia.j.rt Cl " 'o csiaie utilities
BS'l'wn hss suspended unt 1 rurth.r annii:
Wtt ar.rt,lnW,f th?. ""'horlly grant.4
&U la iln,!1"1' c;'nc'Dn"' Chicago and St.
L!R?. l.raaood"n-d '0r AV i2aBR K
"V eoulnment n.1.. .hi' "V-;;Z.J-
KLSreiTer for Hetin? Company
J Jan "i'l A eum..
',3.
S.fiUM SUd HTallnJ
uoa. a rST- hi r.T,T"W,Sf
7.TTT." U... .--
. JP the ederar'DLitarf'tni;ff"i.1
i capital stoek of tha company li
tte fUfr that the comoanr D.. him
I fn7.t,rvIeej' before the reaelverahtl)
'llit i Central Trust' Compiny In
&t i ntrl Trust' cimSipy TS
Saw its ri.ir"np,n?. 1 B culms
5fw UuP'"' "4 director, for wtimi
ors and Reserve Board Confer
WTOj jaI,. jj goTamaia of
J"srs tnuuu, who usulliir la
lea, feJ4 a j,!sit ejMsJJonVUfc
ir ftprt AcUo. tfc
fe-.-v
Ityraber
mfpet, 8.83
Hl"W
C'-nucntM tsr, Jlwouut al
NEW YORK STOCK SALES
I.MI SI. l!ih Low Clo9
Alflskft flold MlnM 28ff 28J( 28) 58
Allcs Chnmbef ntcf. .. 37 3(1 39 3f
irklgamntcd Copper.. 60' 67t 60)1 7
AmtrlcAri liect Bugst .. 34 (?4W 33!i 33f
Amnfake8ho!pfef...,137 138 H-7M 138
AmcrlCanOan ..30 28J 20) 20j
AmetcanCan crtf .... 08M 07Ji 07J 07H
American Cut A Found 47ii 47 47 47
Am Illdo A Leath. pre!. 24H 24K 24U 24W
Amice.,... 24 21 24 24
American Linseed pref . 30) 27X 27M 27W
American I.ocomotiva.. 27 20H 20!j 20M
American Smelting .. 02IS 03 02M 02H
American Smelting pre(103W 103W 1MM t03
AmSjiiraf........ 100 10(1 100 100
American Tel A Tol....l20) 121 120) 120U
American Tobacco 231 23,1 22(H X0
A mCflean Tobacco prcnoo 10flt 100H 10(H
Am Woolen.... 17 17l 17U 17J
AmUoolcnprcf....... 77 70U 70W 70!
Anaconda Copper 27H 2711 27H 27
Mchlson 03H 05! RS OMi
Atchison pref, 08M 08l 08 08
tlalllmoro & Ohio 73M 73 73 73W
Halllmoro ft Ohio prof . 72! 72J1 72H 72H
Bethlehem Sleel...t... 40) 40H 48ti 41
lietMehem Steel prof.. 10,3)4 103W 103 103
Dtooklyn fliu .. 120 129 129
Brooklyn llapld Transit 88 87M 87M 87H
California Petroleum, . . 10 10M 1C! 10
California Pet pref COM 48U 47 47
Canadian Pacific 10S! JC6k 105 10SM
Central Leather 35H 33 38 35
Central Leather prof. ..103 103 103 101
Chcs.&Ohlo 45H 4BI 44K 4fi!
Chlno Copper ZMi 36H 3flK 30M
Chicago Oroat Western 12K 12X 12) 12H
Chlo Ot West pref 3W 31i 31M 31H
Chicago Mil & St Paul. 02K 025( Ol'i 02lf
Chic Mil St P pref ...128H 127H 127 127H
ConCanptef OIK 2H OIK i2M
Colorado So 25JJ 20 20 26
Colorado So 1st pref.... 45 IfiK itM 45J
Krlo 22M 22!f 22h 225
Krio 1st pref 30! SOU 30 30H
Erlo2dptef 30 20 20K 20
Comrroducts 10 OH OH OH
DelawaroA Hudson ...lfil 151 161 161
Denver ftltlo Grand... 7H OH OH OK
l)cn li Hlo Orando prof 12j 12M 12M J2M
General Electric 145 144M 144W 144H
GenMotor 01H 01 90M 9 H
Gen Motor pref 05 05 035 93M
Goodrich Co 30lf SOW :0 30
Great Northern pref ...117 117 11CK llMj
GreatNotlhOroCcnt . 33K 33K 33M 33U
GUBgenhelm 52 61W 5W JSUi
Intcrboro-Metropolltan 12K 12W 12 125f
Interboro Met pref .... SIW 51 51 61
Inspiration 18H 18' 18i 18M
Kansas City Southern.. 24K 23H 23M 23)4
KanCltrSopref 57H 67H 67)i 67M
Lehigh Valley 137). 138 137M 138
Llggct&Mprcf 118H 110)5 HOW 110H
Lorlllard 178 178 178 178
Lorlllard pref 117 117U I17M 117f
Maxwell Motor 17M 17U 17 17
Maxwell Motor 1st pref MM 53W 53M 63M
Mcrcantllo Marino 2)f Uf 1M H
Mercantile Marino prof 8H 7li OH 7
MStP&SSM 115M 114' 114 114
Mexican rctrolcum.... 0311 (aii G2H 03)f
Missouri Kan & Tex... 11H 1U 11H Uii
Mo Kan & Tex pref. ... 32 32 32 32
Miami Copper 18H 18)i 18 18
Missouri Pacific 12H 12)i 11H 11H
Montana Power Co 15H 45M 45M 45H
National Biscuit 132 120 129 129
Nevada Consolidated.. J3 13H )3H 13K
NYNH&II 64 54 64 54
New York Central 01H 92H 01K 92U
NYO&Wcst 23 23 23 23
Norfolk & Western ....102W 102)4 102M 102H
Northern Pacldc 10SW 105M 105JJ 105!
N. II. It. Mex2dpref... 5 4H 4K -J
Pennsylvania 1071 107M 107)f 107H
PeopIc'sGai 110M 119 110 119
Pittsburgh Coal 18 18 18 18
Pittsburgh Coal pref .. . 5 MW 4'( 4H
Pressed ! Steel Car 33 K 331f .T3J 33
Pressed Steel Carpref. .lOIJi 101H lOlti 10W
Hallway Steel Spring .. .3"s 25 l'6 25
Itay Consolidated 17M 17H 173S 17!f
Heading 15W 15:04 151H 162f
Hepubllc Iron & Steel.. 21 W 21)f 21H 2Uf
Itepubllcl. &S. prof... 77M 78 78 78
Hock Island H H J H
Hock Island pref ' 1H" 1)4 1)4 1)4
Humely Co 1J 1)4 Mi 1M
HumelyCoprcf 0 5f 6U 6)(.
St.LouIs Southwestern 17 17! 17!f 17?
St. L.& S.Fran 2H 2J 23J 24
Soulhern Padflc SO'i 87)4 8fi?4 60)4
Southern Hallway 1734 18 17)4 18
Southern Hy pref Ollf 02 01)4 01
Standard Milling 47 47 47 47
Studebaker 4114 42 41 42
Studebaker pref 05 04)4 01H 04)4
Tennessee Copper 31)f 31)4 31 31)4
ThlrdAenuo 43)S 43 43 43
Toledo. St. L. & W. pref 8 OH 934 OX
T In City It T 00 90)5 09)4 09H
Underwood pref 103 100'r W'J.'i 100)i
I'nlcn iacillc 12')4 1U15S 120)f 121
UnPacfbrrcf ... IV, -1)1 -1 M
Union 1 a-lflc war 20M 28U 28'f 28)1
united hys Inv 33 12)4 12)4 12,
United Hyslnv pref ... 32W 32 32 32
Uti.Stecl 52)4 521f f.l't 51J4
US Express 71 71 71 71
Ulah Copper 54 54)4 53 54
Va Car Chem pref 88 85)4 85)4 85)5
Wabash 1)4 Hi 1U M
Wabash rref 3 3 -2)4 3
Western Union C3VJ 0234 G2)4 C2)j
Wheellng&LE ;')5 3 ." 3
Wheeling I. E 1st pref 15)5 14 14 14
Wheeling & L E 2d pref 55 5 5
WcstlcghousoEloc 71)5 71)5 71)4 71)4
Western Maryland 2()4 10U 185f 19
West Maryland pref . . 30 34)4 MJ4 IJ4
WellsFargo 1-5 5 .l5 85
Wisconsin Central. . .. 39)4 8 HH 38
Total Bales, lftl.noo shares.
BANK BUSINESS FELL 15
Week's Clenringa Show New York
Suffered Most.
There was a drop of 1.1 per cent. In the
volume of bank clearings throughout the
United States last week. Now York suffered
the most, with u. decrease of 2.1.3 per cent.
1'hlladolphla business wag reduced by 13.2
per cent. Tho total for all the clearing houses
for tho wick ending January 23 was $3,138,
0SI.87S, osalnst ?3,173,WW,7S0 last weo'c and
(3,001,220,760 for the corresponding week last
year;
1MB. 1014. P.C.
,$t,3S3,02,783 l,8r.MBn,7l3 -23.3
,T 118,707.330 1.17,001,114! 13.1
New York . ,
lloston
Philadelphia
ltalltmoro . . .
Chicago ....
fit. I.oula ...
New Orleans
Beven cities
5 days ,,,,
Other elites
3 days ....
'l.iT,Vr- 14,u,UIU IS.a
2S.077.241
U.U1 l,7.l U.'J
277,8U4,t7 - 4.3
73.013.2U1 2.7
20,120,008 7.1
205,03t,O8U
73,831,373
21,5:S,11U
,t2,018.180,030 J2,1S3,382,707 -18,0
. 6S0,O12,0T4 687,042,816 l.H
TTIkv "I'.'f'jI.SOO.Sai.OOl 3.073.303,32.
-18.5
Alday...... 542.781.g7 617,021,237 -U'.li
Tfor''we1ek"!e."3.138.08l,878 JS.OOl.aiO.lSO
15.0
Local Reserve Bank Statement
The condition of tho Federal lleservu Dank
o( Philadelphia at the close ot buslneu, Jan
uary 2;', was. as follows;
ItBSOUHCES.
Jan. 22. Deo. IS.
af,1flacaCt.,.n !?!?! f":16.307.tH ,10.000.425
Legal tender notes, silver
sffla?Ti,c"in'''...'-. 4.13e,03 3.8M.071
All oil? w resources '!'... 2.6U5.037 .S-llloul
Total ViJiaitiVftS1 mAnm
SlpoW ? ' W.1 23,083,733
ToUl 1241,100,135 2T,172,488
BATES E-OB MONEY
Call. Tims,
Philadelphia lilftSu iJr
New York 'ia fgga
Boston Julsi! 45Vi
cOonnlIeIal PPr. three to six roonttui,
pffifaXoW p c"t-
.. 1 mm
Reserve Banks' Discount Bates
,...,i ., 11 Days , 1 .1.1,.
30 or 80 or 00 or
less. 60, SO. Over 00.
BMWdtljiM IS 5 -I 8
New Tort ......... Jg 2 bu
BllbBjond h J h a
tbleago !, . " ,J S
wiKlV-:::..:: S 1 g
iattsa Cm 4g I H I
UNION TRACTION
BACK TO MINIMUM;
LOCAL LIST HEAVY
Lake Superior
Transit
and Rapid
Reaclionary.
United States Steel Active
Feature.
No Brent amount of activity developed
on tha Philadelphia Exchange during
tho two hours It remained open for busl
ness today, but the general lone was re
nctlonary. Sentiment was by no means
so bullish as yesterday afternoon, anil
Union Traction appeared In liberal mip
ply, falling back to tho minimum level
of 30 before the Orst hour was over,
llapld Transit held relatively better, and
some trnders professed to sea In this
that an agreement may have been
reached between the two companies
which would prove of morn benefit to
the latter than to tho former. In other
words, they thought thnt It was Ulto
posslblo that Union Trrtctlon stockhold
ers might be brought to agree to pay
ing uy tho full par value on their stock.
An advertisement which appeared this
morning asking for an option on COW
shares of ltnpid Transit at 1314 for 30
days was regarded moro ns a speculative
move than anything else, but It Is In
teresting to note thnt at any rate there
Is moro Interest being taken In the local
tractions than for some tlmo past.
Lake Superior weakened in sympathy
with tho reaction In the general Hat,
United States steel was In supply around
52 nnd fell below that figure, and Lehigh
Valley, Pennsylvania and Lehigh Valley
Transit preferred woro nil Inclined to
react. Northern Central wob picked up
by Investors and Philadelphia Klcctric
held steady. The case beforo tho Pub
Ho Service Commission over tho city
lighting contracts has been adjourned
for two weeks. Meantime the commission
will consider two propositions, one, that
nn expert be detailed to Inspect the mak
ing of nn Inventory of tho company's
property; and the other, that nnother
hearing begin on the objections Hied to
approving tho lighting contract.
In the bond market about the only fea
ture was a sale of 10,000 Keystone Tele
phone Ss at 01M, up H from tho .last pre
vious sale.
LOOAIi STOCK AND BOND SALES
Yesterday's
,-Iftan. lift,),. Tiu I'ln.n
ni; Main uoco
l.',3 CI Ml HtCl'l ....
1." I-Jlco .Storage. ..
2r Lnko Sun Corp.
140 I,eh Vnlly....
120 I.eh Vol Tr pf.
20 North Central.
iioi I'ciina it n
S3 M-IO Mfi M 1M
n 1'nna Kit ...
103.1 P 11 T tr ctfs.
35 neadtrm
3.11 Ton Mining ..,
1I3S Union Trao ...
12.1 II a I
1045 IT S Slcol ,..
to Warwick IAS
ZIH 2.) 4 23M,
10 10i 10H 10V4
7()rt ill l-IO 7ltN
-tKi. 7 lH-d0
7 13-10
SB1, 30V,
30 3(1
82 82
M Sits
U?i 0i
82
H2
02 U
uii
OK
Total sales, 4700 (hares.
D0ND3.
Lnjt
prev.mle. Illeh. Low. Close,
?1000 Am Oos A B 5s. S511 DSli SM S-'M
:OW Ualilwln 1st Ss.lOlf. loitw loiti 1U1
7IKK) Con Tr N J 5s. .101V4
10O0 El A Pro 4s.... 17i
100(10 Kpy Tel 1st Ss.. Ot
1000 P l)AV 4s 11)20. 0714
00U Phlla Elcc 4... 78
2IJ00 Ilcadlns; ren 4s.. m
iikxi Un Itys t e gi 4s 73
Total sates, 2U,0()O.
10t4i 1011K 101V.
77vt 77 Yin
B1W 01H BUI
U7 07 U7
sou aoy, soli
in in ii4
73 73 73
aaii aswi ;isw. ;isii
Mii 4lg 41(5 4g
4U 40 411 40
UV4 UI4 U 01',
) llStt 01 H CM'),
2S1 2SU 2Si, 2
BJU 834? KJU tC
W
Ki
LOCAL BID AND ASKED
Yesterday Today
,. , Bid. Askcil. Did. Asked.
Baldwin 3$ 30 .'IS 40
do rref Hi2S 10.H J huh lm
Camb Steel 44J4 45 44 45
Kleo Storogo 4Sij 4.P1J 4SW 4UVI
uen AMi!ialt 32 .. 32
do prer 117 .. 117
Key Tele 13i 14 13 14
do t c 13i; 14 13TI 14
do prof U2 (CI U2 (II
I.nke Supe Corp Wt u .. U
U-hlgh Mav 7IV 75 74W 74W
do t C 74U 75 Tt'-S 74(3
I.ehlrh Vnlley (kSK nil W R)
Leli.UlTr; 15ji 1014 154J 1H
do'pret 2SM 211 2S 28Vl
Phlla Bp Tr 10ft 104; UriJ 10(5
do t c m'i 10; l(l(J 10W
Phlla Eleo 23 'Ml 2J(J 23J
Phlla Co 33 .. 33
do pref 34 .. 31
dn cum pref in .. 30
Heading- 70 13-10 77 1-16 711? 7(04
Tonn Belmont ....4 3-tn 4 7-111 4 5-10 4 7-10
Tono Mlnlne 7?i 7i 7 IV,
V Uas Imp S2 S2U Sift S2
Union Trac 3lJ .. 3U
II S Steel KM D2J, Bl 02
Yffpry.::::::::::36 & a &
HALF HOURLY SALES
10 to 10.30 A. M.
30 Phlla II T I o 101, 60 U S Steel.... 65
20O do lOh 5 do J2ty
110 Union Trac... 30 50 Tonopah Mln. 7
73 do 3614 100 Union Trac... 36
10 do 30V, 200 renna 53 0-1(1
12 Phlla Clec... 23ii 100 Lake Sup Cor 0
3D Phlla R T t o 10U ICO do 0
111 I-uke Sup Cor OH 10 Phlla ItTtc 1UV4
10 U a Steel.... .12 100 U H Btcel.... 32
105 Penna Mil 300 do . 52
100 U 8 Steel.... 52 10 Tononnh Mlu. TH
10O Union Trac... jj 05 l.ch V Tr ptd. 2Mr,
10 do 38 K I.eh Valley.'. mvi
200 Phlla 11 T t c 1014 .6 Oo lis,
3 do 10) KH) do CSti
10 do 10ji 23 Union Trac... 3d
10 1! u I K2 100 do 88
loo Phlla II T t c 10(4 10 U S Steel.... 32
100 do 10ft
BONDS.
flOOD Elec A PeopTr 4s 77
1000 Am Oas & Eleo Bs 3iJ
10,30 to 11 A. M.
10 Phlla n T t o 10(4 10 North Cent. . . 83(4
10O Ton Mln;., 7 ll-lo 10 do 83(4
0 North Cent... S5 10 Warwick .... 0
10 Phlla llTH jog in Phlla BT t o lug
10 U a Steel.... 3ljJ 10 Union Trac... 30
SO Cam Steel.... 44(5 100 naldln 33'i
a do......... 41(4 SOO U Bteol..,. 32
100 U 8 Steel.... Blti 13 U Q 1 82
140 Tonopah Mln. lt
DOND8.
000 Phlla Elec 4?.. , SOU
1000 Con Trao N J.Js, .........loi
loco Va llwy Tr told 4s 73
11 to 11.30 A. M.
10 U 8 Bteel.,.. 31T4 100 Phlla BTto 10(1
10 l!eh Valley... - 'nn UK
100 UOI,.; 82 13 Leh Valley... U
2 JJth VaiiiV::: 0H S3 Leh V Tr pfd. 2Sl
UONDS.
.2000 Con Trao N 3 6s "'Rl'4
2000 Iteadtni gen 4s.,,....,...,, 01
30OO Baldwin fit SJ. ,. . . . . . . ..... . v. . .1U1
10OO Phlla, llalt A Wash 4s 1020,,,,,, 07
11,30 A. M, to IS M.
"3 neadlnr ...70 1-10 100 do 32
100 Union Trie;,. 38 100 Union Trac.,. 88
4 TonoSah Ml I. 7H 200 Phlla II T to lu(',
100 U tlltsl... B 87 Tonopah ilia. 7
l83 do.... . 53 00 un' Trao,., 86
Union Trie..! SO 80 U S Steel..., 62
is Sc i Btoras-s. 4U S Union Trao... 30
S0e2iw :.."... 63H 23 Lake Sup Cor 0(4
loo Cam Sti.V,. ,10'??nsala,.n.ii''T l3da
10 Heading ,,.., 78? 100 U S Steel.,., 63
BONDS.
4000 Con Trac N 3 i , ,10JH
sooo Key Tel 1st f 4
5000 Key Tel 1st 3s, ,,.,,.,,, Oils
aOVEBNMBNT BONDS
Bid
Asked.
2s of 1030. reUterd pf
'J
2s of liwo.
Panama it.
Panama 2s,
fpunama ne
i, coupon.... 08W 0J'4
i, rlsterd, 07 .,
, coupon..,. 0Wi ..
W 3s. reUtered 10IU ..
ew 3s, coupon !!))'' tolia
I. Milotered , 1Q1.. ...
'""T.,7 "...ILt.rnf
Ss of I5?. cu?n;.4
Ss of m reftr4
JJ it 1, coupon
? "5 tf.is- '.ir.v "..:.. ion
' ''" Y"t.";i.i innif
..,110"
DIVIDENDS DEOLAHED
H&JirtSHM. ru,ar 4u.rt,r.y
S uer nt., Prl bfnr K stock of
record yrtniary t-
BABSniVEB.
aW fOBK, 3W- 23. I -9 nw
stswww-w "'' ,ig,:q?'$fvi
8 !"
WILLIAM K. VANDERBILT, JR.
Elected a director ot the Roch
ester Railway and Light Com
pany. He Is a vice president of
the New York Central and Hud
son River Railroad,
NEW YORK BOND SALES
Low. Close.
101 101
1)21,4 1)2(4
lU4(i 104U
SSfa 8H
W 100
or 02
Mk 80
03 05i
un uits
Ul 01
2000 Anier Agr Bs
louo Amcr Cot Oil Os
L'ntKi Atiwr Hnielt Sic OJ....
11000 Amer Tol fit 4s
20500 do cvt VAn
1000 Amer Writ Paper r.x.
WOO Ainiour Co 4(js
oooii Atchison ailj 4s sip...
14500 do 4s
WOO Unit A Ohio ,114
11)000 do 4s
:tf(Mi do ov 4i.
15000 II A O P LV.
B. . . . . Cil JB
K A W V Is 82
1st fia tA
5I'f
2000 llelh Kleel 1st
riMioi) ii.i rfd r.9
1IKUI ilrnnU Ttntt Tr T.s tOIH.100
2U00 Cent On corni 5 102)4
21000 cent Leather 1st ns.. uun
1 ins i() em I'ac 1st t
30P0 ChM ft O cv 4',!B...
uOOO Chcs A O Tia
1(00 Chi A Knat 111 4s...
3000 Chi at Well 4
27000 Chi MAC 4s
1KKI P M Si At I OCI1 -IV.H
7ll
lOlli
211
73(4
IIUH
101(4
320500 C M & S r cv 3a w I.102
14000 O St A S T CV 4(4s... 0714
4000 Chi It I A P 4s 24(j
1000 Col Industrial Ss 72W
laouo Col A South 1st 4s.... S'j'i
n.l(K(iin Oao cv On., 115
1000 Corn Prod 3s l034.... IM
1000 Ills Scur Corp 3s S5T
UOOO Erie conv -la acr A... 0-llj
KOO Krlo conv 4s 8i-r II... "
1000 Erie prior 4s S4W
1000 Clrron Hay On 08i
10OO Hud Man Inv Bs 2a,
5000 do rid 3S 7M4
3000 111 Central rfd 4s.... 87,
;ui) 111 Chi 11 Ss I'Ski
2Hii
21000 lnsp Cop cv (H....
30i 00 do rv (In 1011)
OtOKO Interb Met 4V4s...
1000 Inter!) It T rcf Ss
Sli
UKioo lntor Mcr Mar 4(5s. .
.Sift
.'.ion intern! l'nper us.
Os loll,
3s iim
M 4s.... TM
1st 3s... 117 5
unu inc Aiconoi
11000 K C Kt S A
20OO Kan Cltv So
4000 Lit Sh deh 4s 102.S.
1M0 do deb 4s 1031....
100O LIB A M '!' Bs
1000 Lorlllard Bs
30OO Louis A Nash 4s
U'UOO .Minn A Bt I. 4s
looo Mo rac cv r,s
10(10 Mor A Esae-t
3000 N Y C S L 4s
1000 N Y C A II ."'.in
i 14000 ?f Y City 4(is 11)110.
4C00 N Y City 4(4s 111(34..
in
112
.loiu
..nii'll
. 01
. 45(4
loots
. 8oi:
1011
iok
HIS
.loov
.100
100(1,
1041
4IHIU is x city 4Wj3 May .ii.iin im
3C00 N Y City 4'4a Nov '57.104l(, 101(4
1I.UVI JS Y IN 11 A: 11 us ree.io'iji. Idl
r,ooo N Y llwy 4s 72i
'41 1 (ttVJ 18,,,,.!.,..
N Y Hwy .It. 55
N Y Stato 4(3 lOSTi
' N Y Tel con 4(4n.... :miZ
Nor A West 4s Kill
Nor Pac prior 4s H2"t,
2
MVV, . IWJ
l.VOO
nooo
r,noo
los4
mi
107U
onu
inS
103U
;:ii.uu isor cac prior -ih ".,
1000 Nor Pac gen 3n (US
nooo Ore Short I. 4a 1)1
1000 Oro Short L 1st Oa... HUH
nooo Penna cv ii'tn unit
3000 Penna 4a WIS US
3000 Hay Con Copper i, .10.V4,
1000 Heading" B?n Js IMK
10000 llppuh Cuba 5s iisM.. fl
3Ki Ilcpub Cuba 5s 11)14.. Ul
:'000 Hep I A S fi HMO 113
5000 Hock Islsnd rfd Is 71
1000 Hy Steel Ppks 5s 1010 M
11000 st LIMA ao 4s 704
1000 at LIMA 8 Olf 4. 42
KKio RtLAaf rfd cv Is sta ii3V
S7O0O South Pac cv 4s K
linono do cv ret f l 3s 1KI4. HUH
2000 Buuth Itwv 4a 117
13000 &outh Hwy Bs 10OT4
IOik) Raulh Rwv Ok t c 4i.. 75
ihiiO Texan Co cv (1 :.. I'O'S
UO00 Third Ave 4s 82
24000 Third nvo lldl 3a 70",
5000 Tol St I. A W la.... 4
1100U tl 8 Rubber Os 102.
25000 V a Steel 38 1024
13000 fnlon I'ai 4s 07';
253011 Union Pa' cv 4s On'i
.15000 Va Hwy 5n no
5000 Wnbush 4s Ill
r.i) U'uhn.h 1st 5a 1101b
711(4
40
102
102
, 2(1 2(1
, 22 20li
loiw 101(4
. OT OH
MM 03!S
(100'itVab Eou ct stn 4s
4mo Wmt E'cctrlc r,s ..
211000 H'Mt Md 1st 4a ...
1000 West E A. M rv Ss
Total sa es, $1,801,000.
MINING STOCK QUOTATIONS
TONOPAH STOCK8,
Hid. Ask.
Jim nutler 71
MncNamara "
Midway J
Mlzpah. Extension 2;
Montana '
.73
.05
.07
.20
,3
.17
S
732
7o1
.30
.30
.10
.31
.04
.OS
.00
."0.
.OS
.03
1",4
.3S
1.35
.20
.13
.1.1
.11
.04
.10
.20
132
North atar .
Tonopah Helmont 'is
Tonornh Extension -H
Tonopah Merger ;.'
Tonopah Mining
7.
.Oil
.34
iiearue i-iuia
West End
HOLnFIELD ST0CK8.
Atlanta
. .3S
. .0
. .811
. .03
. .07
. .0
. ,03
. .Oil
. .00
.14.
. .37
.1.30
. .27
. .12
. .13
. .10
t nine nun
Ilooth
llullilog
C O D
Comh Fraction
DlamondOeld II II
nalsy
Florenco
QolilfloM Consolidated
Ooldtlelil Merger
Jumtm Kxtcnnlon ....
Kewanas
Oro
Rand Ken
Silver Pick
MISCELLANEOUS.
Falrv Altec
Klmberlv
Nevada Hill ....
Nevada Wonder
Ex.dlvldend,
.. .08
, . .07
,. .27
. .1.47
NEW YOEK OURS
NEW YOIIK. Jan. 23.-T1m curb market
closed Irregular, after a day of j-artatloni In
which thero were few features. United Cigar
Stores now and United Piottt-Sharlnrj new
reachoi sales of 4000 share each, a very
good showing for the half day, Itatny weather
reduced tho attendance to the minimum.
INDUSTRIALS,
Sales. High, Low. Closo,
100 Ilrlt.Am Toll bearer.. 10
lUJi
10
300 Corp ot IS A It 7
4000 Un'Clg Stores new,,, 01
ll) do pref ., , 11
400 I'n Clg stores of Am, Odli
4000 Un Prof-Sharnew ,,,, 4
BOO World Film 3
IV,
0$
3H
111,
Otf
4
3
STANPAIU)
OIL SUBSlDIAJtIES,
400 Anglo American OIL, 13
5 Atlantic Hnnlnir...,,iiV)
40 lluckeye Pipe Line... 118
25 Continental OIL. ...... 232 ,
.1 National Transit. ..,.37(4
03 rralrls 0 and 0 475
M do ex rta., 233
.V) Prairie Pipe Line w l.m
73 South P"n Oil fM
75 Stan Oil of Callfornla.BOa
63il d of Indiana..,. ...llo
M da ot Now York.,.. 200
20 Vacuum Oil 200
MI NINO BTQOKS.
MiO Draden Copper 7(i
1000 O O D Cons 8
Um Florence i-?l.
"n noldfield Cons ,.111-10
13
13
650
232
37(4
473
233
170
2"4
200
403
180(4
SCO
850
117
230
4ll
230
170
303(4
7 T
8 8
SO 00
IH 111-10
HO 1 11-12
32 52
12 11
Jl-IU
r
2700 Jumbo Extension. J.
1110 MoKlnley Dnr. ...!.
2000 Oro
COFPEB STRONOER AND HIGHER
NEW TfORK, Jan. 23. Increased strength
developed In the copper roeut market today,
sales of electrolytic taking: place at Sc, an
advance of He. a pound over Friday quota
tUn. Some of the leading produeina; and sell
Ine companies are now quotlns; HHeilWe. It
is said a teavy Inquiry Is In the market, both
from foreUo anil demeatla sources.
SHEET COPSEB ADVANCED
BOSTON, Jsji St. -Vot the .:eod time la
a weett lw tfB PH-M be been jflvaneea
U, wut a pouul to a new kase of 1 nl 17
sent iMJtlSi!y, t &( una roll, Braaa
and wi wluee o bq pioJ m, to stp
pica wllh ef BJiliJ.
1 1, WErpJP 'Slv '
WHEAT AT CHICAGO
ERRATIC TODAY, BUT
RALLIES AT CLOSE
May Winds Up at $1.44
and July at $1 .26 J Great
Deal of Unloading by
Longs.
rrilCAQO, Jan. Z3. Wheat moved er
ratically today, but closed Htrong at best
prices. May sold as low as 1.42, but
onded nt tho highest at II.41H, or one
cent tiboVo yesterday's last price. July
roceded to J1.24H, but finished at tho top
at $t,2('4, or cents higher than yester
day's final ilQure. Thero wud a great deal
of tinlondlnK by local tonus and n llltlo
attncklni? of the market by short scllern,
who thought there was a more peaceful
outlook than heretofore In Europo. Values
rallied sharply and quick, however, n
soon na any attempt at investment was
made.
Hoports wero current that Hungary
had commandeered all grain. An ofllclal
French report placed tho whent crop of
10U at 320,000.000 bushels, and tho deficit
at 30,000,000 bushels. Tha report said that
Imports for the season lo December 3t
were 54,100,000 bushels, thus nsstlrlng the
provisioning of tho country.
Ilroomlintl, believes the report to bo
considerably overdrawn. He snya much
of tho native crop Is not nvallable. Last
year tho yield was 323,000,000 bushels.
The weather In Argentina was moro
favorable.
Severe cold weather Is extending down
Into this country'B winter wheat bolt, but
Ihoro Is a good Bnow covering.
A continued good export inquiry for
wheat was present today and assertions
wero made that foreign and senbo.trd
buyers woro going to Stlnncopolls for
lurgo quantities to replenish supplies and
to permit offers abroad. Cash salqs were
233,000 Ibushels, Including 210,000 bushels for
export.
Leading futures ranged as follows:
Yeflt'il'a
Whent-
Mny
July
Corn (new
Stay
July ......
Oats
Stny
July
Ijird
Open. Itlch,
l)W.
Close, close.
1.41)4 141(4 1.424 tl.4IK 1.4:H4
1.25(k 1.2(4 1.B4V, Tl.20((. 1.25(li
uc.iveryi
71IW
70 78
M)R 7U(5
170(4
70 H
to
J.0
50J
50(4
54'
aid
.'-1
January
Mav . .
July ..
Itll.s
Jnnuary Slav . .
July
Pork
Jnnuary
10.07
10.72
lo.ro
11.03
. 0.P2
10 32
110.32
10.112
11.02
10.S2
10.117
10.S7 10.1)0
11.02, 'lLO.-i
H.OII 0.92
10.30 '10.32
flO.32 tl.32
18.32 1S.33
18.U2 .!
111.17 10.22
10.35
10.32
10.27
10.47
May
lii.oo
10.23
fAskcil.
111.(10
10.23
IHN3
111.1.1
July
n:
ild.
LIVE STOCK QUOTATIOiNS
L'HICAliU, Jan. 23. 11008. Hccelpta. 11,
COO: market tt'dilMc. hU'iivr: nilxnu iitiu butch-
' ers, J(l.5.Hi7.10: kooU heavy, JO.wy7.lu, rough
I heavy, IU.MB7.13; piss, 5.00i&0.1M; bulk, JO.00
I 1)7.05.
I CATTLE', Hecelpts, 4(X); market steady;
i hecves, llllili.25: mwi and hellers. ;3..'0b.2.V.
I Blockers unit fi-cilera. ?5.((XJl).)0: Tcxuns, WW
7.4U1 calves, sipiu.;),
SUtlCP. IloceiiiU, 3000; market steady; na
tive and Western, I3.50tjd.33; lanibt), J5.7.VW
S.20.
NEW YOBK COFFEE MARKET
NEW YOIIK, Jnn. 2.1 -Tho corteo market
opened weak, with prices 1 tn 2 points below
last nlKht'a closings, ajles. 2(XK) baiis.
Openinc futures: Mnri.ii, (1.4:1c. bid; April,
0.50c. bid; May, n.U4(iU.0Sc.; Juiib olivrci,
il.ooci July, 7.50417.3(lc; Scplember, 7.03fl
7.72c.i Octolicr, 7.70c. bid.
Closing futures: Jnnuary. fl.27(l.2Ac.; Fcb
ruaiy, (1.324J 0.3:1c. ; .tiurvh. .42j0.4lc; April,
il.3Iil.32c, May, il.iiHiOiKc; Juno, (1..VH.
U62c.; July, 7.3li7.5.; AUBUst, 7.5SS7.50c.;
Scplember, 7,ilfl7.ii7c. ; Octuber. 7.727.7.lc.;
November, 7.7SH7.7UC. ; Uecembrr, 7.S117.63C.
Total sales. 12,700 bass.
NEW YORK BUTTER AND EGGS
NEW YilRIC. Jan. 23. HUTTr.lt. - Market
firm; receipts, 3140 pkgs.; creamery, MXiru,
32'u32(tc; higher scoring, XVUXXVje. ; State,
dairy. :tlti32.; Imitation creamery, 2M44)23(.je,
ECH1S. Market llrm; receipts, 420.S. cases;
fresh, extra firsts, 37(4B38c; fresh, tlfiits. 311
:17c; nc
1 :174?:i8c. ;
nearby, wnuos, 4Ufi.'c. ; neurny, mucu,
rciriseraior, nrsis. i.-cs(f-3v;c.
NEW YORK BANK STATEMENT
Increase In Reserves Deposits Over
Thirty-eight Millions Larger.
An Increase of $7,051,780 In actual .re
serves wuh reported for tho week just
ended by the Now York Clearing House
banks. Actual deposits rose 137,773,000,
while actual loans were 111.805,000 above
the prccedlns week.
Total loans were f2,2O3,49D,0O0, with total
oxcess rcservo ot J13S,232,110. Details fol
low; ClearlnK House members, average
I.oalif, Increase $l.1,.r3,000
Deposits, Increase SU,l3l,0i0
Tim deposit, decrease 3S2.000
ltc.erve. Increase 0.041,300
(Mearlne House members, uctual
i.nann, increnso ,
Deposits, liicreaso
Time deposits, decrease
Ilesorve. Increase ,
.14.S03,000
,KJ, ll.l.OIIII
l27,laX'
7,031,780
RESERVE BANKS' STATEMENT
WASHINGTON. Jan. 23. Tho statement of
the combined resources and liabilities of the
Fcdeial rcservo banks at the close ot buslneta
on January 22, with the figures of January 15,
follows:
nEsoqncES.
January 22, January 13.
Gold coin and certifi
cates $230,002,000 230,31fl,000
Legal tender notes,
silver certificates and
subsidiary coin 18,747,000 10,228,000
Totals .1238,400,000 252.711,000
Ullla discounted and loans;
Maturities within 30
days $0,838,000 1 0,010,000
Maturities within 00
days 4.080,000 4.341,000
Other maturities 2,14U,QQU 2,oiu,0oo
Totals ...) lU.OfB.OOO 142,442,000
Investments 10,434,000 0,173,000
Pue from Federal reserve banks:
Items In transit jn.H2.oiX) 7,5D3,000
AH other resources 13,401,000 13,14,000
Total resource..., 304,H8,O0O 1207,008,000
LIABILITIES.
Capital paid In $18,412,000 $18,075,000
Iteserva deposits 2SI,10J,O00 277.183,000
till Feleraf reserve
notes In circulation, 03,4 1.838,000
Total liabilities ... .30l, 538,000 $207,008,000
(D) Odd reserve against
net llobllltles ,,.... M.6 S7.1K
Cash reserve against
net liabilities ...... 03.3 IH.1
Cali raserve against
liabilities after set
ting aside 40 gold
reserve against net
amount of F. . R. .
notes tn circulation. 03.4 07.5
(A) Federal reserve ,
notes in circulation. 17,100,000 18,804,000
Peduct gold and law.
ful money In hand
of It. 1. agent far
.fantthT'notei "fl 15,103,000 14,060,000
Net liabilities ot re
serve banks upon
""standing noie.. 1.193,000 J.838,000
fill After deduetlon l
fe F. It'Cnk.: M0.1M 7.30O.000
The weekly tatenwn of reeojirce and 1U
billtle of ench.of t 12 Federal rejry Eaa
at the close at business January 32 '0K";
Ilailon. ft
isr.sirtH:
I Ort, l,(lftUi
PhlUdelphl
,la K2X.107.
Cleveland. HB.7S2.
Atlanta. 17.83(1.000
oou; Jtlcn:
Richmond, S12.4W2,'
Atlanta, l7,AmciU;
rhicazo. il2.oss.cioo: st, loui. i.ra,uuu:
MlqmSpoll, 111.27.000; Kansa City, U,;?7.
000: Pellaa, S,88a,0O0; San S-raneuKO, 110.
fiSl.OOO. BANK GLEARINaa
Bank eJeaftaca tuday .onwarad with, corre
nMMn y fcg .jg wli
fisasrr TOSB ass:is m&m
tfk .4U5.7i9.SS1 8W,0 8H!1.
LONDON MARKET IRREGULAR
lit hi I 11 it
Business In American Group Smrtllort.
Realizing hi Canadian Pacific.
LONDON, jnn. 23.-Conrideneo In Be
curUlen showed no Indication of di
minishing today, tho lone on tho Btook
BxchanRo being steady. The actual dally
turn-over has been Btnnllor slnco tho
middle of the woek, hotwlthstnndliiR tho
activity In American sharoR, but genulno
transactions are moro humorous, owing
to Kroater activity on tho part of In'
vestors, following tho Treasury's re
strictions on Hew notations of capital,
tluslnrss In tho American Broun today
was smaller nnd the tono was Irreitular
bocaiine of tho easier closo nt Now Tork
yesterday. Thero was mui'.orato realiz
ing In Canadian 1'nclnc,
Ixmdon N.T.
close, eiiulv.
Amalirnm.ileil Copper 5S Mu, J4
Atchlaon K7 OIJS - 14
llnlllmoro A Ohio T.". 73
Canadian Vacinc 170ft ltoi, - Vi
Chesapoake ft Ohio 4V4 45 -tt
Chlmgo M & St Paul 113 nlT -
Denver & Hlo nrande JS nji
Krle M4 22J$ i?
do 1st pref 30', 35f -
Illinois Central 11IJ4 10JU -IW
Missouri Knnciis ft Texas 1U ll'i - 4
New York Central nlV, D1VS JS
Norfelk & Western 105 4 101 U
l'ennsclvonla "'U KlOJi U
Headlnir 7SU lKtW - Jj,
Hiuthern Hallways 174 17 H
Houthetn faclnc 8 so
Union I'nrine 53)4 51i
Uiillnil Stalen Fteel MVi 81i -
Consols 0S(i
Money, I per cent.; discount rates, short
Iillla, 11Snt4 P cent.; three months' bills,
lif2 per rent,
4-increate. Decrease.
FOREIGN TRADE FOR 1914
Tariff Changes and European War
Exerted n Marked Effect.
Influenced by tarirr changes nnd tha
Durappan war. the volume of our merchandise
foreign trade In tho calendar year 1014 was
less than In 1013. Thero was n nllrrhl decrease,
In merchandise Imports and a considerable,
decrease In extmrtu. Tho kiors tutal was us
fnllnwa In tho last two sears:
Jan. 1 to Dec. .11. 11114. 1013.
Imports 1, 78.1,022.4211 $t,7l2,.1. 11.180
Cxpoits 2.1U,257,r!) 2.481,0182112
Total .rrK)3,27.m!5 i7jiuiT773
In tho month of December the excess of
merchandise reached tno largo lotnl of !.11,
S'l'1.077. nn Inrrcaso of is2.ir.in,nm at com
paieil with December, 11113. and !.1.0I2,711 ns
compHred with 1012, Tho Intltiencrs of too
Kuropcan war on our export trade wero marked
In tho latter monthH of tho year.
In the enlendar year the excess of mer
chandise exiwrts vn $3'.'.'.V35 113, ns compared
with an exccwi of f(11,21.S12 In 1013, anil nn
execs of J5S1.14I.03S In l'H2. The decronre
In tho excess nf merchandise exports In 11114
ns compared with llil.l was ""' '" l."1" Thoro
was nn excess of pxivir s of silver In 101 1
of $25,011,251. thr- tows nf merchandise nnd
silver bclnit $350 8711.301. In iMfllttin to this
wo exported un excess of $1'15 2SA.41.1 Bold,
mnklnir tho tntnl eicer,s at rxrortc for tho
year on the three Itemi 51(1,107.773. Tho re
sults for two years wore as follows:
Jnn. 1 to Dec. 31. 1011. 1013.
r.xccsR tmlBo. cxporlx. .S1"5 :? tn fir "! ''
Ecrm silver rX.ports.. "5 041.2.11 ?0 PO.t.tt';
Kxress gold exports... 103.2?, 11.1 28.003 77S
Total pjppsi pxpnrts.$5lll.107.770 $710,411,402
Tho decienpp In the pxcchs nf exports' "n
lhpe visible Itpmn In mil as compared with
1013 whs $rio,31 0.023.
FINANCIAL BE1EFS
Accordint; to nrndotrcct'a there is less
nnemwloymcnt now than In December;
Joblilni; trade for Hprlnn Is larger, and
stimulated by cheap monev and low
prices, speculation In securities lias broad
ened. In many lines Inquiries n'ro larBer,
svKRcstlnc; po'entlnl business of healthy
proportions.
aold to the amount of $200,000 was en
Baced for shipment to Uruguay. The
transaction was described na of a special
nature:
Copies of the call for the second Instal
ment of tho capital of the Federal Its
servo Dank of Philadelphia to bo paid In
by member banks, have been sent out.
The payments are due February 2. The
amount which each bnnk will pay Is 1
per cent, nf Its paid-up capital and sur
plus Dlscnsslnc the mnrltet's future, Uenrv
& West sayn: "While Indications point to
Increasing activity nnd further advances
in prices, it must no: tie forgotten that
any unfavorable Kuropcan developments
aro apt to chuoe sharp rcactlonn In prices
and that It Is still advisable to net with
caution."
The Rross enrnlnss of 35 railroads for
the second week of January show a de
crease of $078,607.
Commercial fnllures in the United
States this week numbered 713, nenlnat
4W durliiK the correapondine; woek last
year. In Canada tho failures were S7,
against IS last year.
Tho Now York Stock Exchange has
admitted to dealings Alaska Gold Mines
Company rights.
Tho Logan Trust Company's annual
banquet to Us employes will be given
this evening at the -.ellovue-Stratford.
Receivers' certificates of the Rumely
Compnny to the (.mount ot $100,000, bear
ing Interest at 7 per cent., were pur
chased by Chicago banks.
Oscar I.oeb sold Union Traction.
Emery, Freed & Co. wero buyers of Lake
Superior.
The minimum price on Philadelphia
Company 0 per cent, preferred stock has
been fixed at 3S, effective Monday, Jan
uary 25. '
AMERICAN PIPE REPORT
Profits for Year Eell $109,502.
Lack of Cash a Factor,
In his annual report Joseph B. Keen. Jr..
president of tha American I'Ido and Construc
tion Company, explained that the laiaslns of
tha dividend In the last fiscal year was not
altogether a uuestton of decreased earnings,
but principally the lack of cash, due to the
Inability to market securities taken In ex
chanxo for work, The percentace of net earn
lius was 6.1 per cent, un th capital stock.
your company," he said, "after paying
the dividends on January 1 April 1 and
July 1. I OH. amounting- to $1.10,000. reduced
It Indebtedness as follows: Collateral trust
certlnralea. Beriea 'A.' sun 000: collateral trust
certldiates. Heiies 'B.' S50.000: bills pavabla.
$70,000; accounts payable. $S0.0A4. Total,
S2SP.55I, In addition to tbu abovo the Amer
ican I'lua and Construction Securities Com
pany retlrel and canceled $150,000 of Its 0 per
cent, collateral trust bonds."
FollovvInK is a comparison of tha profit and
Iom awvunts for tha two last yean:
1014. Decrease.
Total earnings i!S-I!H J'HiS
Adlnstment of seeurltles.. ?J !? IS-IS
Total expenses gaa.Ml (10..J02
VrofH for year ..,.,..... 251,007 10SI,1
The net earnings In 1014 and for the nravlojis
two years wre as follows: lull, $301,007;
1013. 3 41X: 1012. $008,301.
VA 2mrwrJ with I50.DOO dividends paid
In 1014, $250,000 was nald In 1013 and $100,000
q each year previous.
Increase
TO RECEIVE $1,400,000
Philadelphia Banks Share in Dissolu
tion oftSWaold Fund.
From the dissolution pf the Foreign Ex
change Gold Fund of 100,WO,00(1, tho
banka o tins city mat gutworiiMa an ag
Bragate of 13.000,000 to the fund now will
Imvo rturn4 to them ll.400.OW of the
first 36 per cent. Instalment paid, amount
ing to J2.000.000. rreYlo.ua refunds amount
ing to 1600,000 have been ma.de.
It Is expected that the I135.O0O.D0O cotton
loan fund will be dissolved after Feb
ruary 1, and then tha local banks will be
relieved of paying $5,170,000 which they
had subscribed.
) " " '
Tp Borrow ,545,000 for Wabash
ST. T-flUtS. Me.. Jau. . S4wjt4 U Vtfur,
rcevx ot tiw Wabftak Rajbawt Cumway.
l'tilud Stataa luaza AJauu,
ias cwi a.i8ona iwww ii..iiH m
A -, twu ft
fiint'n 6in will cvoxMiiie (fe csUaWtot
Philadelphia Markets
CHAIN AND FLOUtt
, lVIUIAT-necelntS, 4fl,2l)o bus, fipH
demand was fair, but with lower oatld,aU
vices prices declined jo. Quotations: Car. lots,
in export elevator No. 2 red. spot shd Jaruii
'nry, l. I3W1.40, Nn. i red Western, L47Wl.:o;
No. 1 Northern Duluth. ILfllffl R4.
COICN.--neelpt, 40,745 bus. Th .mar
ket was quiet but Heady tinder moderate f
ferlnns. yuotsllons Car lots, It export il
vator No. 2 rt and Jantmryv ,77&oe. ,
flertnier.l77i87He.; no, 3, 7BHU7JHeji ear
jtts for local trade,, as to louAtlBn No. Z yel
low, new. PO0K1C ; steamer,, yellow. hw.
SliOROc., No. 3 yellow, new, 70'.477'4e.: nam
toe yellow, new, 72f7oe.i now cob. per 70 lbs.,
BOSfco,
OAfS-ilecelnls. 22.0H bus. Thers was
little trading and the market was UnchanMi!.
t)fTcrlnr wcru moderam, but ample. ,QuritJ
tionsi No, 2 whlto Olimtnoc.i standard white.
WMirr.De 1 No, a White. MJloSuk. .
Ikvi:-Trads was quiet, but th market
ruled firmer under small supplies. W quo;
at $1.1231.20 per .busel. as. to quality.. In
export elcvKtqr, and nt Jini.10 for small lota
of near-by uraln In bas.
I'l.lllllt. Hecelpts, 1B5I) bbls, and M74
101 lbs. in sacks. Tho market quiet, but mill
limits well sustained. Quotation. er 1WJ
lbs. in iwoodi Winter clear, f.eoeOi oo,,
stmlRht. $0.flO.Mi do., patent, $p.607J
Kansas, stinlnht, Jute sacks,, 0.60a.75l do.,
pntent, Jitta sacks. ?fl,73fl7.10i sprlne. Jlrjt
nlear, 40.4OUtl.iIJ do., stratlht, U,40C6,.3i
do., patent, 0.73fr7; do., tavorlta brapds,
$7.4.1U7,50i city mills, choice nnd lartcy .patent,
7.25f?7..-i(i city mills, regular gradesWinter,
clcnr, .-,,50qili do., stralKht, 0.2388.6o do.,
palent. $o.(pfl7.
ItVB 1M.H (ill. Supplies were smsll and
the market ruled steady, hut trade, wna quiet.
Wo quote nearby and western In wood At
$H.50tf0.7.'), as tu quality.
PROVISIONS
Trade slow and largely of a Jobulu char
acter, and some kinds were easier, Quotatlonsl
City beef. In sets, smoked and nlr-drld, 25
2oc; Western beef, in sets, smoked, 256200.1
do., city besif, knuckles and tor.ders, smoked
ami nlr-.lrled, 27ir2Sc.; (In., Western beef,
knuckles una lenders, smoked, S.iTUSe, I bsef
hams, $3Hi.'!2; pork, family, $22,800211 ham,
R, I', cured, loose. t:i)itfl3lii(i.i do., skinned,
lorse. 1UV6T1CUc. 1 do., tin,, smoked, I'lUUW.ie.!
nthur hams, smoked, city cured, as to brand
mill nvwndi' Mf14VjC,: han.s. smokn. West,
em cured, WfUtJc.: do., bollrd. bonaless, I0O
Oc; picnic, shoulders. S. !. pured, loose, 10
Ffllc, do, smoked, llHOHe.: bellies. , in
pickle. aCrutdlnR to average, loose, KIMQMc.f
broikfnst iKcoii, as to brand and avoriao, city
cured. l7Si1Sc.i do., Western cured, v17llci
lard, .Western, rellned, tierces, 11SJHHO.J do.,
do., tubs, lrriHic.i do., puro city, kcttU
ren-ljrtd, In tlrrics, HflliJ.M do., pure city,
kcttlo rendered. In tubs, UJfll'le.
REFINED SUGARS
The market quiet nnd without Important
clmntn. Hcflners" list prices! Btundard jrran
ulnted, So. s lino cranuiatcd, 4.03?.t powdered,
.i.o.-.c: confectioners' A, 4,S3c; soft grades.
4.10j'4.70i: t
DAIRY PRODUCTS
HUTTKlt. Orferlnss were moderate but
ample, and the market was quiet and without
impottant choline. Quotations: Western, fresh.
soltd-pnckeil. creamery, fancy specials, S4c,i
evtra. 32c,: extra Ilrsts, 31c; firsts. 30o.! sc
(nii. 27jr2!e.; ladle-packed. 21i6'23e., as to
quality; nearby prints, fancy, 11.V,: do., aver
iiEr cxtrn, 34c; dn, firsts, illffsSci do., e
onds, 2S52i)c. Special brands or print Jobbing
nt I0V420.
EIKIM. The market was quiet and un
chnnsred. (luotutlons, In free cases. Neatby,
pxlrj". 3S. ,,r ,ox.i nearby, firsts. $10,03 per
utiindard inne; nearby current recclMs. tlfJTsa
per case; Western, extra firsts. $10.03 per case;
iS:-.tltiX' tIO-"'" per mc: southern, ftt.oorf
1".20 pec case. 7nncy aelppted candld fresh
einrs were 'obbod out nt 40ft42c. per dox.
ClIISKSK. The market llrm under llsht
offurliigs, Liu trade quiet. Quotations:. New
lorK. tun crcom, earlier receipts, choice, 10o.
do., do., current make, choice, 13a; do., do.,
fair to good, 14VilIic: do., part skims, 8
W i.,w.
POULTRY
T.1VE. -Supplies of desirable stock mod
erate nnd the market steady, but trade qulat.
Quotations: Fowls, I:ll."c.; old roosters. 101
JoViiC.; young chickens, according to quality;
12K14C.J turkejs. U'ftUk!.: ducks. ll-SlOc!
Kecm, i;n15c. ; BUlnens. young, welshing 2
!, .!l.n". ovor aPlece, per pair, 50c. wals'"'
lknili lba. nplece. per pair. 40845c: old, per
pair. :tiW10c; pigeons, per pair, ISfflSe.
IiithSSlsn Offerings moderate but ample
and tho market nulet nnd without Important
change. Quotations; Frcsh-kllled turkeys,
dry-picked end dry-packed Fancy, near-by,
Jle.i do.. Wcsttrn. 21c; fair to good, 1820c.:
old tiiins. inc.. fowls. 12 to box, dry-picked
and (lry-packed yelrcted heavy, 10c; weigh
lng 4!iff. lbs. a&lecu. lc: do. 4C4W lbs.
"piece. 1714c. : do. HV40I lbs. apiece. ia17c;
do. lbs. and under, lacziflc.: fowls, bbls.,
drp-plckcd and dry-packod Western, dry
nicked. 4V4B.- lba, nnleeo. 17c; do., do., 4
lbs.. Kic. ; do., do. :ife lbs.. 14c; do., do.. S
lbs, and under. 12tP13c: old roosters, drr
piclsed.,, l"',4c. ; broiling chickens-Near-by,
l'!i2 lbs. nplcco, 20022c. f do., fair to good,
lil'itlSc. Ileatcrn. 1V4JT2 lbs. apiece. 20c: do.,
fair to good. HfflSc.i chickens, dry-picked and
ilry-lckvl. In boxes Jlllk-fod. .11 to 30 lbs,
to dcz.. 17c mtlk-fed. .'17 to 42 lbs. to do..
17c, milk-fed. 4:1 to 47 lbs. to doz. 17c; mllk
fcd. 48 lbs. tn doz. 18c. t milk-fed, CO lbs. and
over, inc.; enrn-fed. Ul to 42 lba. to doz..
lTiftl.11:. corn-fed. 43 to 47 lbs. to doz.. 18c;
enrn-fed. 4 lbs, to doz.. 17c: corn-led. BO
lbs. and over, 18c; chickens. dry-Picked and
dry-pai kcd. In bbls Selected heavy, l&u..
IVcfctern, corn-fed. 5 lbs. and over, 17c: West
ern, corn-fed, 4 lba., UliflilGlic. ; western, corn
fed, llVi ibs. lSVic. : Western, corn-fed., 2VWi3
lbs., lltll.'.c. ; fjucks. extra. 10817c: dp.,
ordinary to good. 12015c: geese, near-by,
nulla, do.. Western, 10fl2c: sauabs, per
11 jzen White, weighing 11 to 12 lbs per doz..
SI.40US' white, wolghtng 0 to 10 lbs. per doz.,
$:!.SOT(4.S0: white, weighing 8 lbs per dos..
SIMIUSU: do., do. 7 lbs, per doz.. $2.50ifK.'.80:
do., do. (I1I0U lbs. per doz.. $1.00S2.10; dark
and No. 2. 00c,t$1.23.
FRESH FRUITS
Trnda generally quiet and the market
without Importunt change. Quotations:
Annies. New York, per bbl. Greening, t-itff
2,,3; King, J2B2.73; York Imperial, I2SJ2.50;
Uen Davis, tlligi; Spy, $1.75ii2.50: Ilaldwln,
$1.75Q2.50: other good eating Varieties, $1,73W
2.50; medium. $101.50. Apples. Western, per
box, 75c,B$1.23, apples. Delaware and Penn
sylvania, per hamper, 30000c: lemons, per box,
f2ti2.SU: oranges, Florida, per box. $1.2382.801
tangerines. Florida, per strap, $283; grape
fruit. Florida, per box, $lfr2; pineapples, per
crate, I'orto Illco, fI.5oa2.75; do. do., Florida,
$1$I2. cianberrles, fancy late varieties per bbl..
$.1.50114.50 do., Cape Cod. Early Black, per
bbl., $23; do. do. do., per crate. T-lc.eil.B0;
do.. Now Jersey, per crate. 73e.ntl.23i pears.
New York. Kleffcr. per tbl., lg2; strawber
ries, Florida, per qt., 35if50c.
VEGETABLES
Uuyera showed little Interest and tha roarkst
baref stead. Quotations; White Potatoes, per
bush. I'enna., Oii(U5c; New York, as to
Quality, 43if52c; whlto potatoes, Jersey,
per basket, UOiJMc, ; it potatoes, Delaware,
per hamper, large. $101.23; medium, BOWOOc.l
sneet potatoes, JCaotern Shore, per barrel. No.
I. $203.73 No. 2, $1. 5001.73; sweets, Jersey,
f'er barrel. No. 1. $3.25&3.60; No. .2. rO?.30
tweets, Jersey, per basket. 63ffl00c. 1 onions,
choice, per bushel, 0c; do., ordinary, per
bushel, 7o4J7Bc; da, choice, per 100-pound bag,
fl.Suttl.OO; do., medium, per 100-pound pag,
$1.23; do., seconds, per loO-pound bag, $1;
cabbage. Danish, per ton. $121113; cauliflower.
New York, per crate. 75c. C J 1,2 J; spinach. Nor.
folk, per barrel. $l.502.-'3: kale, Norfolk, per
barrel. TMflXks.t lettuce. Florida, per baakst.
$28f; beans. Fior da. per basket, $1.508.1.30
peas, Florida, per baskeK$2,o0fi3.fOi eigplant,
Florfda. per box. $1.C0B2; cucumbers. Flor
ida per basket. $I,73i83.80j squash, Florida,
per basket. $1.60112; peppers. Florida, per car.
tier $282.50: tomatoes. Florida, per carrier,
fancy. $203.50: choice. $101.50; celery, Florida,
per 'crate ll'.M&l.rfi do.. New York, per
Lunch, 33S30c; mushrooms, per 4-lb, basket,
fll,40.
FOBEION EXCHANGE
NEW YORK, Jan. B3. Tha foreign exchange
market was firmer all around at the opening
today. Demand sterling was quoted 4.84U: 00
dais 4,!C'.tt 00 days, 4.8t, and cables , 8.Mjh
murks, cables, 87 T-l; demand, S7 B-li
francs caldes.' S.18JU demand. 3.18K.
rnorosAts
DEIMHTSIENT OF CITY TnANBIT
754 Iloune Ilulldliur
Philadelphia, January JS. 1915.
Sealed proposals, properly endorsed and
addressed ta th undersigned, at tha o tries
above mentioned, will be received until 1
o'clock noon on the dates noted, and opened
Immediately thereafter, for the -work, of re
construction end relocation ot sewers In cen.
tral portion of city, preliminary to rapid
transit subway construction, as follows:
Contract Nc 10 Sewer iu Walnut street,
10 ft. 0 In. and 11 ft. diameter) about 1815
ft, long. Bids to be opened on Tuesday.
February S3, IBIS.
" Contract No. 11 Bewer In Walnut atraet,
Washington square and Locust strnet, 0 ft 9
in. diameter; about 1047 ft. lone;. Bid to be
opened on Friday, February Iff. 1915.
Contract No. 18 Bower In Willow afreet
Sixth street. Franklin square. Race street
and lSlghth street, 5 ft. 0 In., ft ft. S In. and
S ft. diameter, about 2003 ft long. Bid M
be opened on Monday, March 1, 1915-
Contract No. 18 Bawer in Ninth street
train Arch street to. Market street, 4 it d
u. diameter; about 092 ft long. Bids to be
opened on Wednesday. March 3, 1918.
Contract No. 14 Sewer In Tlanstead street
from Bight li street to Ninth strut 3 It by
2 ft: about 414 ft long Bid to be opened
on Friday, March 0, 1915.
Plans, spsclicatlosa and proposals ran, be
obtained at the otHco above mentioned, u.
deposit of $5 being required en each set of
plana pending return.
lllddere must be skilled and regularly tt
gaged In th .lau of work for which Itity
are competing
No bid will be contldtred uslem acorn -panted
by a certificate from th (Hu Bniu
Iter that the provision of an jriitunve re
quiring BfoBoeal bnd of 1 500 r,n all iu
aii.eedlos In tianunt Se htmdrtd diillir.
($500). proved May 8, 19. ii,j iee
comsUed with.
Tbe lr.:tur ntuvw 10 anwu (it
to reject ny or s,li bW, a he ,, . 1
bt fur tne ttttciwtt at tU Cti ' J
(UlOlite. A K TU .1.
tr 1 t
suoaiMon, tw otusu