--ii- -ryprr
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U
1C
EVENING LEDGEK PniLADELPniA, MONDAY. DEOEJttBEfi 6, 1915.
FINANCIAL NEWS
NO LET-UP IN GASH BUYING
OF STOCKS IN WALL STREET
New York Bond Sales
Total Volume Has Shown Signs of Increasing Instead
of Diminishing Tennessee Copper Doing Well.
General Motors Jumped 32' Points
NUW YORK, Doe. C.
The cnih ImjInR of atopics throughout the reront jicrlml of spooulnllvo
tngnntlan lins continued without the ntlRlitcst let-ink. In fnrt. the total
olumo has tended to Increase rnther tlinn decrease, although, naturally, the
demand turns to now tiuaitera as the lexel of prices rliiuiffpi. Tor some
time past It has centred on the railroad list rather than the Industrials. The
railroad stocks nro heliiK consumed. The result of this process of ovnnoni
tldn Mill ho seen when the ne.t speculative wine selves the public Imagination.
In the meantime, the cash Inijlntf has heen correcting a steadily oerloui?ht
speculntUe position.
Nobody expected the market to do much today until the President's mes
sbro Is safely out of the wiij. While Wall street Itself. tlirottfrh Its advance
information on the stihjcct, has had ample opportunity to discount the Presi
dent's recommendations, there still remains the puhlle, Nevertheless, despite
the Roneral restraint upon speculation, prices today looked ns though thc i
wanted to go up, unci the whole market nn stronger. All tho copper shares
linvo done better. I'tah In partlctdar duplicated Its previous IiIrIi point at
81 nnd cnconripted the belief In recent predictions made by Inllticntial
qperators that the stock was on the vvaj to par. American Hoot Sugar was
also iiRKresslvcly strong, making n new high mark, itiggestltig that, so far
ns this stock Is concerned, important market Interests are satisfied with tho
tone of the 1'iesldent's speech. Central Leather, another stock which has
been persistently "litiinpliiR at tho top," acted In nn Impressive manner.
The people who have been In charge of the market In Tennessee Copper
tire cheerful over the recent action of the stock. Tennessee Copper has had a
long rest, nnd theie ale signs that the bull Interest which was accumulated In
the rapid rise from nrotmj -10 to 70 In the summer has been ".sweated" out. The j
company Is natural!) benefited, with the other copper shares, from the very
Btrong position of the metal, although It Is now more of a chemical company
than a copper company. 1'rodts from sales of copper not onlv meet full divi
dend requirements, hut leave a comfortable margin besides, l'rollts on the
manufacture of chemical products are, of course, very large. The president of
the company 1ms Just returned from a trip to the South. The object of this
trip has been kept secret, but It is supposed to be concerned with the making
of arrangements for the enlargement of the output of sulphuric acid. Tho
development of activity In Tennessee Copper at this level may therefore bo
significant
Union Pacific has been supplied rather freely around this level. The bill
ing has been excellent and the Street Is potentially bullish on the stock. Hut
each attempt of the stock to go up has been met by stock. This was the case
last Saturday, when a few minutes before the close 1000 shares were dumped
on the market. The explanation offered In speculative quarters Is that the
stock comes from Gcrmtn sources. It Is alleged that Ktihn, T.oeb & Co are
still holding 'a considerable amount of Herman-owned stock and are quietly
making a market for It as occasion offers.
Uuslness on the Stock I'sclunge tod i was almost entirely professional.
Commission houses did not do ver much, showing that the public Is still out
of tho market. War specialties were the most active, nnd the feature of that
group was Cleneral Motors, which hounded up .12V5 points to a new high
record No news accompanied tho wide advance. Among the railroads Norfolk
and Western was the strongest, at one time being up nearly 2& points ns
compared with the final of Saturday. The strength in that stock was attributed
to the good earnings statement for October, which showed an Increase of
1,3G2,23S In gross and $1.0fiC.SGS In net. Cash bujlng also had considerable
to do with the strength In It. There Is no speculative position of any
consequence In Norfolk and Western. The stock has been going out of the
Street for years, and tho present floating supply is so small that It requires
n relatively smnll volume of buving to move the price up to new high levels.
There was a lata upward movement In the whole m-irket. stocks going to new
nign points ior me nay in many cases. General .Motors was an exception, losing
five points of Its ndvance. The railroads were the active features late' in the
session.
llleh
m
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tri
in m
i I4"oo Unit . Ohio c I'js H7
1IKK1 li - (I I t. IS A V V lm N?V.
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awl Amor Tol cvt 41511
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lion Atchhon mil 4s.
Simo Itnlt ft Ohio VM
i ,x"i imii t cum 4S
l.ow. Cloee
102U 102'
tlRNl Vnt (lA rotm
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411)0 Don ft II O I- ..
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uiiiii ciririi l'i H
tini lleil riec ilrh fn
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livo llti l ft Mn rM "s
7000 III Steel etch 4 .
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I.'ihki IjiikH Steel " l'l"4)
10VO Uc Hh ilcli In l'l.'S
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limiHl . V Cent e (
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.TikiO I'ennn ncn et 4's
lirno I'ennn en 44s
Who Hn Con Copper (Vl
liniH) lieaillng iten 4s
loco Itcp Ir ft S 5s.
WHO Itorl, iKlnnl rf.l 4n
'.'iks I St It I M ft S t,vn ?
liSKsi Sriliniinl A It nJJ .Is .
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Winn South 1'n Is
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llnoo I'nlon l'.u i Is
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1st
FOIIEIGN EXCHANGE
Put.
Mterllnic lllh, tT. ts. Cloe.
Cnlilos.. ., i.lltf, 4.71 .7IMi 4.71
Demand.. . 4.10j, 4.70H 4.70'K. 4.70
rrnncs
I'nliles.. (1 S0 B.Hfl fiBJ'j
llemnn.l... flOV, f8oy. fl.ntll', RMy,
Marks
Tnliles. , 7dm 71 7fP 7n
Demsnil ., 7n"i, 7d"u 7o",. 7,
SaleB in Philadelphia
Saturday close.
41 Am On 122
0.11 Am Illwya ..... w
TO Amer Bmeltlng HOH
1 Ilnld I-och pret.,112
oco 11 ft s urer l c r,i
NEW HIGH MARKS
FOR WHEAT PRICES
Trading Largest in Many
Months Spring Receipts
Were Heavy
71
4'.4
4CV.
1004
111
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tlJK.
list,
nn;
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IIMJ4
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NEW YORK STOCK SALES
Adams Kiprosc
Alaska Juneau
Ahslci R0I1I I ,
AllLH-Chalmcrs Mfir
Allls-Chalm Mf: pf.
Am An C hcinlcil .
Am licet Vizir
Am Can
Am Can pf
Am Car & Knumlrj
Am Coil rrcxliic t4
Am Coal l'roct pf
Am Cotton Oil
Am Kipre4
Am HlilcS. Lci1hrr
Am Hida A I, pf .
Am Ice Securities .
Am Lltism!
Am Lhs'i-1 pf
Am Ixx'omothe
Am Malt . .
Am .Smelt A. Itcf
Am Sui K Itof pf
Am Steel Foundries
Am buinr lief
Am Tel & Tel . .
Am Toba-co
Am Woolen . .
Am Woolen tr r
Am Woolen pf tr r
Anaconda Copper
Atch T4SK
Atch T4SF pf
Baldwin Loco
UaHlmora i- Ohio
Daltlmore i O pf
Uatopllaa Mlnlns
Urookljrn Itap Tr
1)ron Shoo
IiruiuIck Term .
liutto & Superior
Cal retroleum
Cat Tetroleuni pf
Canadian I'adrtc .
Cent Ijeather Co
Cent Leather Co pf
Cent & S A Tel
Chesapeake i. Ohb
Chlla Copper
Chlno Copper
Chi at Uc-it
Chl Gt West pf
Chi Mil & St 1'aul
C C C & bt L pf
Chi & Notthest
Chl It I & I'ae
Cluett Tea & Co
Colorado Fuel & I
Col & Southern . .
Comp Tab Reo
Consolidated Gas
Continental Can
Corn Trod Itef
Corn Prod Itcf pf
Crudbld hteel
Cructbla Steel pf .
Cuban-Am bujar
Den & itlo Or pf
DbtUlers Securities
Dome Mines , .
Erla ....
Erie 1st pf ... ,
Krl 2d pf . , .
Una Chemical . ,
General Electric . .
General Motors ,,
(Jeneral Motors pref
urrene-uamnea ...
Goodrich 8KC0
Goodrich B V to pf
Great Northern pref
Gt N cfs for oro prop
Guggeahelm Kxpln .
JUlooU Central
lot Hanroter N, .
lot Harvester Corp
later Coo Corp
Inter ton Corp pref
1st Agricultural
Int Agricultural pref
Inspiration, Copper
Jot M M pf c( dp
Int Nickel
Inteitutloaal Paper
Kansas tltjr Southern
KIdzj to B l, P
Lack Steel
Lehigh Valky
Loos Inland
loub & tsb
SHcVay Co pf
May Uept Mores
Majr Uvpt Stores pf
ilunell Motors
II ai Motois Jit pf
Jlix UuUjo & pf
llnkao 1'etroleiiin
M Petroleum pf
MMI'ISbU
llaa i Liu. oS
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lb'f lbi IMi lh)i
b'J, S0)j 891, 80)5
74 7i 74 741,
111 UIH 111U UUi
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27 27 27 27
47 47H 47 47
28JS 30,' 29H aO'j
44 44Ji 414' 44M
S8 5S! 58)j 58i
504 5.' 5l)f 52
315 318 31b 318
175IJ 178 170VJ 170X
492H 530 500 5.10
1101. 12JH lib 121)5
I1U 44), 41)j
74) j 72t 74)(
112 112 112
120 125)$ 120
50!i 49)f 50VJ
78! 771 i 78) j
10S4 I0.S4 108)i
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75 75 75
22K '22)1 22)f
70J1
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4U!i
UU
1004 107)5 100,
101)i 101), 101),
1114 1174 1144
014 lii 914'
774 774' 77'i
24' 24' 24
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45 40 40
. 10)$ 13 11),
72)4 71 72'f
20)5 28)5 204
50 59'f 5S)5
18215 lbMlf J82
l0),' 0')4 fi0)j
no no 110
.133 135 1.15
Ol'f Oil,' 01'5
aWi 25). 25),
54U 55) J 514
15), I5!i 154
39 39). ;t8if
05)i 'J-Hi Olh
75 77 77
132 132 132
..19H 20 10'f
7,1 74 7.1)f
51)5 52H 51)i
30 30U 304
42 41),' 4J
17
31
UH
774
120
80
30
Ill's
t'54
104'
117
7.V5
102'i
294
118
74
11")4'
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1174
414
.15' j
lO'i',
8.1
183
Ol'i
115',
107',
45
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111
125K
40)5
78
108
lOMi
72),
221
80
23
GO
40
07
ISO
aii :u
120)5 128
81 bltt
b2J SJ
21 23)
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WH ftjli
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114 114
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05) 05 ii
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76, 77 753J 70
100 I00j 100)5 WOir,
55Ji oi 55J5 68
02' aPf 924 01
88 ttiSJ'OO 014
123 1231 1231 J2J
i Ji j) li
L'-i'
824
101)5 no
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,. .. Iiat close
Mo han A Texn 7
mo Knn A TcTis pf
Mlatnl Copivr
Missouri 1'idflr
-Montini I'oner
Vitlnml lllscult pf
Nat CloU A Suit
N'nt Kntmel & S
Nat l.'namel S. S pf
Nat Load
Nevada Con Copper
Nc ork Mr llrake
N Y II A II
Ne Inrk Ontnl
V Y O A W.t
Norfolk A Western
North American
N'orthirn Piclfle
Ontario Sll M .
I'aclflc Mall
IVnna It It
People's das thlcajo
Philadelphia Co
Plttsbureh Coil
Plttsburch Coal pref
Pitts C C A bt L
P Lorlllard Co
Pressed Steel Car
Pub N.r Corp N" J
Pullman Co
It) Steel bprine .
Hay ton topper
Ileadlns
Hep Iron A Stcvl
Hep Iron A Steel pr
Hock Island Co pref .
bt Louis ASF
St Louis ASF 2d pf
St Louis Southwest
St L Southwest pf
Seaboard Air Line
Seaboard Air Una pf
bears Hoc A to
Sloss-Shef h A I Co
So Porto It Sugar
So Porto It Sui; pf
Southern Pacific
Southern Hallway . . .
Southern Ity pf . . .
Studebaker Co .
Tenn Copper
Texas Co
lei Co sub rue f pd
Third Au'tiue
United Clear Stores
Vn Cigar stores pf
United Cigar Mfrs .
Union Pacific
Union Pacific pf
United Fruit.
U S 1ml Alcohol
United It)S Invest
U b Rubber
U S Hubber 1st pf
U b bteel
U H bluel pf
U b Express
Utah Copiur . . . .
Va-Car them ...
Va-Car t'hem pf .
Va Iron Coil A U .
Virginia Ity A P
Wabash w 1
Wabash pf A w I
Watush pf II w I
Western Union Tel
estlngbouso E & M
Wells argo Kipress
Western Maryland,,,, 3IH
vtaeei a. lacu truj , a
WUlys OverlanJ .
Wlltys Oterland pf
IIUli
7'-4
17'f
31
0
78
120
80
31
ll5
(.04
104
Iw. Clo-e
174 17'f
31 31
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120 120
SO SO
30)5 31
l'5 01'5
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104 104
137IJ- 137 1.17
754 754' 7.V
103 10'5 KXl'5
304' .10', 304'
120 118)5 120
755 71 754
117),' 1154' 117'i
04 04 04
10'f 94' 104'
594 594 59',
1174 1174 1174
114 414 114
354 354 354
10S4 lS'Pj U)s4
814 81 S14
1844 1S44 1814
0" 0 in
110 111! 110
107), 1074 1074
It'4 154 104
254 254
824 824
51 514
110 110
n n
44 44
04 74
21 2.1
45 45
184 184
41),' 414
177 180
014 024 03 H
153 15 153
109)5 100), 100)5
102 101), 101'5
ittl 2J!,' 214
02 (114 02
150), 1524 155
59 57', 58 J 5
217 210), 215
21.1 21.1 211
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11)5 11)5 114
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M SI 81
140 11)4 111)5
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1084 1084 108),
87 hOii fell!.
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79)5 81), 80 81J4
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184'
114'
180
XHW YORK CUKIt
I1M Arkeil
Amerlenn 7lne I'l'i (lini
llrmlen K.4 I'.'i
llrllirh-Amirleiin Tolmeo oil .. .IP, I ."'5
llrltlfli Anirrlrnn Tolmrio new IP, 14
rnMllelil Iras . 1 '1 10 1',
Hen lee Mfir 20 11
International Mririm 174 17'
Interimllnnil Marino rref i '",4 ''"4
Kciiho" itt Copim r ".I'i "T..
lellUIl Vnllri t'nl hilea .. . . .'' '-'
Miunii l oppcr 1" 1"'4
Ml.liul 7C.4 7i-.i,
Otis irelutur 71 71
HUH i:imlrr jircf 02 1"
Hiker Ileiieman '4 0'j
.ster ln.r flum "'i 2S
MHiimirlv . W 41 ""i
Tobacco Prniluttfl '.t "0
trltel front Mnrlntr new I' 2
Wtrll rilin 1 44
ukon tmll -1' '
CH1CAOO, Dec, 0 Now hlfih Icvcln for
lite 191S crop ncro Bcorcd In tlio whcnl
innrket todny, December RolnR to Jl 20
nnd Mny to II 204, reprcflcntltiK nn up
turn of more tlinn 5 cents n IiiirIicI from
tho low point of tho niornltm. December
closed nt Jl 19U. ft net nchnnco of 2'4c
for tlio dn Mny closed nt Jl 15T5, nlthln
He. of tho hlRlicnt nrlco touclied nnd with
it net BOln of VM' for tho scbhIoii.
A Rood denl or cTiMtcmont nttended tlio
ilnfl trndr, vihlcli ns Inrfter nnd liroider
tltn.11 for m.iii inontliR It secmul n
thoilKh tho public lind tnken control of
the Hlluntlnii nnd n btilllnt; priced re
Kurdlc's of nown or condltloni All offor
ItiRs wont Into utrotiir linndfl. Tbcro wna
llttlo cxldcnco flint forclRncrd Mere In tho
market, iiotwlthstntiillinr tho fact Hint
lluropi will lie lotnpellcd to bu 11 prr-nt
tlctl of Mhcnt In this country In tho next
sir tnontlic, IrrcspectlM" of prices
SprltiB wheat receipts ttero heavj. nnd
tho ncnthur contlntiid rood Tho visible
HUpph In tho t'nltcd Htntci Incrtnseil
1970.000 bnilicli for tho 11ek to IS.THO.OCO
bushels
Corn Mas etronc on a bullish visible
supply stiitctnent, unfaiornblo tnllc ns to
the feuding viluc of tho crop and nctlso
coloring b shorts Iho lslblo supply
In tlio United States increased 17T.O0O
bushels for the week to 4,311,000 bushels.
Oits also showed streimth, following
eislness inrly. The lslblo supply In the
f tilted titcs Is lD,r7,000 bushtls, 11 de
crease of 1,531,000 bushels for tho neck. 6
Mthouirh shipments Irotn North Amer
ica for tho week were turner than had
been oxpected, umountlnir to 13,101000
bushels, their effect wns offset In the
niirkct .tt l.lierpool b the slinrp rise
hco on S iturday StreiiKth character
ized the liiiKllsh mirkrt, spot ndinnclnir
2 to Id. Manitoba and winter cargoes,
Is nnd Plates, !M
rurther anvlety was noted In llrltnln
becnusf of the Inadequacy of supplies and
oor tho rcplenlslilnir of rescues. Im
porters cici where show great stretiKth
In their lews, and dllllcultj Is expel 1
enced in Atistt.tllu and Aimntlnn because
of the fiLlKht situation The Continent
not 4,7W,0OO liiishelH of Inst week's ex
po! Is
The receipts at Mlnneipolls and Duluth
today wire 2737 cats, against 10OJ cars n
ear nKo, at WlnnlpeK, 27SI cars, imalnst
131 curs, at Chicnto, M cats, iiKolnst 130
huh
Ltadlng future 1 ran,;eil hr follows
Minm
7lS
H't
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70
Si
lsji
n
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no)
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Mi
loo
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W
70
71,
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."'
7n
fi'i
l"i.
OS,
fiil'i
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nn's
mi',
HIS j,
III ttrlll .1 (I ... .',1
I0S2S Cam Steel 7R'i
411 CrumM t c.. R
4( I Klec RtorAne.. . l
.'01 l.rlc ....
MK) Oen Asphalt.
10 do tref ..
1 1'oirth Ht Ilk .
2 Ins Co N Am
41 Kcjt T Co t e
J(l Iike. Hup Corp
'.'00 Lehlrh .Sav
T I.eh alley
lit) Leh Vnl Tr .
27 ilo pref.. ..
11 North Central
In) NMiulft Tons
lull I'ennn Itallrond
1111 I'rnni Kilt inir n
to I'ennn bteel rM 2f
lui l'ltts Coil tM. Iiis'l
in I'h t'o cm Pf IT? I2?(
014(1 1'hlln l.litctrle. , Z7'(,
usu r it T ir ctts
10 llilln Traction
I'll ttuy ton
1(K) Iiwjs Ht' Rpr
17n Itenillnp
(1 ln Int rref
101 1 Tnnopnh llel.
10 tJtnb Copper
fuel 1 nlnn 'Imctlnn
7ul rnlteil (Ian Imp ni
2S.I0 r H Steel . . M'i
.-, Uelilnelt . 4",
n Mar Ir A. Ht . 10'1
12 M Jer & Hcah 0(15
1(1 tctmor Coal . 1,7
llONMrt.
tt rrev enle. lltnh
-nn Am n ji. 11 r. . ss hs
loud lleth Steel (.1 120 110
21 C ) (rp Noi '10 US
mi (In 1 eb 11H7 101
,-n On May 1017. 101
4() rlty 41 rp '40
mon l'lec & Pen Tr 4s W)'l
20CII Key Tel 1st Ss H'!4
1!iw-i I.eh nl Ken 4- l
WKKI I.eh VI Tr 1-t 4a
I1110 ilo fn
21000 1'enna Ken 4'4 100',
2(Hi ilo cons 44s 1()",
4(KO On ens 44s '4S 100
.11100 I'hlla Co 1st .".a ino'fj
1120II On fin 10T.
loco Iteaillnir Ren 4s If!
loon Htntnl U & i: Cs fl'i
turn Vn f lly fiR si 4
Mi(H) NVftP Kn 4s silj
1000 Wclnbncli 0a . Il
Lon.
122
.'TO
loo
111
CO
77'J
SO
CS4
44
.f
7 IS
11.
42'4
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100
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OS
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ls5i
70
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71-4
215
2I"4
14'5
70
Si'i
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US'
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lost,
42i
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214
40
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KSJ,
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1.7 1 5
Close.
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lot
101
102
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PENNSYLVANIA RAILROAD GAR ORDRib
SIGNIFICANT STEEL TRADE PACTOffl
Philadelphia Electric and Rapid Transit in Demand,
Local Exchange Cambria Steel Still
Keeping the Street Guessing
Tho distribution by tho Fennsjlvania
H.illrond of nn order for UOO cars amonK
tho Tullman, Haskell nnd Barker and
American Car and Foundry shops calls
attention to ft recent development In the.
steel trado of decided Importance. It Is
understood that the car builders have
already secured options on some 60,000
tons of steel required for building these
cars, nnd It Is said tint there are not
less than S0.000 more cars being contract
ed for by vnrlous other ronds. This Is
purely domestic business, having only in
direct connection with tho tnuch-lnlkcd-of
wnr order boom, nnd shows how gen
cral homo trnclo Is doi eloping
Today on tho local exchnngo the cus
tom ir notlxltv In Cambria Steel en
countered some competition in tho shape
of n sudden Influx of bujlng orders for
Philadelphia Klectrlc. which lifted the
price close to (ccord figures, ltnpld Trnn
slt also became strong nnd nctho No
particular news nccompnnled these de
clopments, other than the theory that
tho new cltj goernment would nelopt a
nioro congcnlnl policy with nil the locnl
public utilities It wns also said that
ns fcoon ns the present Philadelphia Ulec
tile Investigation Is completed tho com
pany Is llkeh to nnnounco some Im
portant financing In tho bond division
Vclsbnch Es uoro n feature of strength.
Tho usual sinking fumi r..........
--- ,. -niltCliatlflfl. ...r
be forthcoming shorttv ' J
Tho Cambria situation contlm,,, 1
mjsterlous ns ecr. With reV.S J
rumo' of a consolidation witv iiJUf
nn Interest closely In touch win, ,?C
roirs or notn concerns wns Ineii ."
ridicule the report, saying that ti??
cal merger would be MIdvile and r. .fr
as the fotmer concern manufactnr.1
the shipbuilding company rui.. h
to the latest buying movement -.
brln, it was snld today that nm.
York capitalists not assodabS' N"
either lleplogle or Donner had ; L T"
the mirkct during tho list fortnli iS
tho purposo of accumulating a 11 .?
tho stock because they regaroVii 1
ehenp below DO, nnd that ns nellh.. i."
ner nor Rcplogle hna netitnl control"'
moderate concentrated holdlne r ."'
rtock would constitute a powerful l.i'
In the nffalrs of the company, Zf
If there Is a project to form i S
lion of nny kind Cramp ShlS
shares Jumped over three poln , S
nhovc rumors In connection with tlri
wns clnlmed thnt certain Inter....!
offered ns high fta 12T, a share fof ii.2!
or Urnmps
"linreforcon
Late In the day n report got lata .
culntloti that large holders of cllSi
.Steel who had been holding out toS
a sharo for their stock In a prZS
merger of Independent concerns h5T
elded to accept ISO n share N0 coniw
lion of the rumor was forthcoming
j I Local Bid and Asked
Copper Output Smaller
Ni:V YOItK. Dec It is estimated
Hint the output of rellnccl copper In No
vimbcr wns IC.OOO.cno pounds, or about
10,000 0u) pounds less than the record
breaking output III October The de
llvoilen Into domestic consumption nre
estimated nt 13) Ooo.OOO pounds, prnbnlil
tho heaviest evir reported, and the e
parts were approximately r,0.0OO,0OO pounds,
or total deliveries of 170,000.000 pounds
This Indicates a decrease of about 5 0O0,
001 pounds In surplus stocks carried by
the producing Interests nt tho end of the
month. The most prominent feature,
however, during November was the enor
mous huv lug for domestic consumption,
probnhl 10 per cent of the purchases,
however, vere made to satisfy fiuelgn
contracts Sales for direct cport were
of moderate proportions.
Wheat- dim IIIkIi. tnn. Cie el tc
l Pinter . lis I .' 1.14J, ! Hi', 1 in ,
.la . I ls'4 1 '.()", 1 r tl 1'i'h 1 10'.
com iiiou ilellier)
liei.inber ' li ''" ('7 1(.S', "(if,
.Mai .... 71 7.'4 7d, 71', t7l)'(
()1 ts-
Duunlcr 41U 4t'l I.'', ! tij t4l
Jin) .. . 4-., I(i4 4'i 4i,', 4Va
Ul 1 civ
ile enibir .... . ti'.".' Ill 2J
Jiini.nr) . I'l'i t)..u HI7 Iil7 to .vi
Mn . . , n 70 'i Ml ti 7(1 ttl 77 "1 77
III ba
lled ml cr . . . . t 7J 11 77
laii'inr) !i7n 11 7.' H (,7 ti TJ 77
MlJ tIKJ Oil, ll til t'l .0 t' 07
fork
llti ember to 4U 11140 10 17 111 17 Mi. 21
Janimr 17 'f. Mr, I7tij tso-j is 7-,
Stnv . . 17s- is 10 17 vo 117 117 Ms 10
nil tAblml
Todaj
lllil Asked
244 214
ltnrr A R119
do pref -'44
llule'iln U'ijn
CinibrU iltiil .. n'j
l.ledili Htnraco .... ds
General ABiihnlt 0'
1I0 pref il'i
do t e 14
fjike -Sup Corp .. !;
1 phlch Nill s.
I.ehluli nllei .. S24
I.ehlKli Vul Tr is',
, '3'
YesteMny
U1J AskeJ
21",
ilo pref
1 1",
(,'i
.'HI
'174
7!l
S.1
111
:is4
.-1 1
114W
7IO.,
('4
l-'l,
71
11
s'i
SP,
1s',
:is
ci l4
ns
7S
70
1(1
71'4
144
H4
70
III
JS'.
TO TUKN OVER CAMRKIA
HOLDIXCS AT $80 A SHARK
ABrocmont Snid to Have Been Reach
ed With Larger Holders
Tho Ilnanclul district this afternoon had
a leport Hint the sjndlcato which has
under wn negotiations for the merging
of a number of Independent steel com
panies had received notice that large
holders of stock of the Cnmlula Stiel
Compnn had decided to accept an offer
of $"0 it shnro for their stock
Heretofore shareholders of Cambria nrc
understood to have held out for PO n
.share, but It Is said that on Satuida
afternoon tliei decided to turn over their
I holdings at $so u share Accoidlng to
this, It would give tlio sincllcite two
! properties, as It Is understood that nn
agreement has nlre.idv been reached with
j tho Youngstown Sheet nnd Tube Com
pany. An offer has been made for the
shares of the Lackitvanna htiel Com
pany, but no ngrieinent ns to tho price
lias been reached
LIVE STOCK QUOTATIONS
CIIICAOO. Dec ll-IICXIH-llrrilpts, 7100(1.
Market lie loner Mtcel anil butelieri.
1t01(iso Boo.1 beavi, (l Iniiil.v0. rough
biii. $(11IR'.'1 IlKht iiOKiUbl, Iks, II tin
,1 10 bulk. 4H 10(11! 11.
CAni.l! llcie'ins II 0(K). Market 10?0e.
loinr llteics, )1 J1In ul rows ami lulfirs
ll'JIdSlO, Itxniis. Ji, 10jS.ii. cultei. Js V)
10
HIIKKP Itecelpts .'1000 Market 10c.
Inner .Natliu uml Western, M.-.'mi 0.1.1. lamba,
jo 1S19.
Want Grain Trade Tax Reduced
CHICAGO, Dec. C President Canity , of
the Hoard of Tinde, Is In Washington
seeking a reduction from 1 cent to H of
t per cent per MOO In tho war tn on all
Hades. Iteventio on speculative tindo
reached $.0J,000 nnminllv . or $UW.0OO more
tliun Congress expected
NEW YORK COFFEE MARKET
MiVV lOIIK, Deo. (I llunlli any vnrlatlmis
were noceil at llio (oftre nitnine loll) hiles
iBi.rBiited but 1OJ0 Iwgs
inil tv u Saturday's
cipinln?. tlnti.
January nMfii.li
I'ltnuiry n.-.Viil.s
Marcb ,il,.Hi n.-..1(l m) I
Apn iti. Jliil l.i
Mj IinijiiTI ui.liii. i.n I
Juno n.71 11(1111170
July 70 iirtfn. 7".
Auxuat 1(171 H7Si,i:7i.
r.epti inber i s.'llll 1.1 ils.lfiiisl
Octnler dSHibOO nssdiisi,
Des-ember 0 Wflll 1.1 I
KIJ
MINING STOCK QUOTATIONS
TONOl'AH STOCKS.
NEW YORK IIUTTER AND EGGS
NEW YORK. Dec it HUTTnu -Market
firmer on tun t,rarte: receipts SS7J jwclcages.
etru, 3.11(8 i4e, lilKher rcorlne. Sii.iail'ic.
Mala Ualr, 3l03.'e , Imitation ireumerr!
Ke.Uri Market Ormer. receipts. B4I7 nncle
Ke, Klru llrst. Si.fiSSe . Hri-tH. 11(1 ne
nearby whites. 41i'.J( mlxesl mlnr J.ifi inc
refr'Berator tlrts, iJ45i'.3c ; nearby browns
SSxlSc
COTTON
Gl
47
1G
40
SI
87U
b'J
.lilt
0J 02 (ii
48!i Mi iHH
1UU 10 1114'
404' 454 llW
VJii :HJH '."J'J
to B7'i Hi
0U)i IVJ b'Jli
ldJ 13J U.'
Mil 3--i 3-'lf
5)i 5i. 5i
2-10 235 235 2J5
1131, 113X U3H IUH
Wooliortti t VV lo J14J, HbH 115 US
LOCAL RESERVES LOWER
Ranks Report Increased Loans and
Larger Individual Deposits
A decrease of 12,154,000 In reserves hell
by the Philadelphia bonks was shown in
tho weekly statement today. Louna ex
pandtd. Jr.i53.000, while individual deposits
rose llU.OOO. There was a slight gain In
excess reserves.
lnerta
2.U.I.(IC0
1,511,000
4.C4M
30.CU)
11(1.0(10
4.407.OUO
-'.13I.UU)
l.ll.liiO
De. 6, 1915.
H.UTU)(i
, J0--',7J1.1XJ0
lO.Sll.ouu
71 &.1S.UIO
130 Mil (Oil
i-j ill ooo
lerirll.uxl
ij-i.ai uuu
IjMUt ,
De(ult lluj.)
Clr ulalwa
iue (rom banks . .
Dcptmlu of bunka
i f. clearliiK huJM
ItMtrvca bU
Jtwrve4 rvuulxed
i cert me
PhiladeltAiit'Commrreial Markets Will be Found on Page 17
r
NCW YORK, Dec. 6 -Cotton opened
Btronger this morning at an ndvance of
7 to 10 points. Tho upturn was due to
good cables trom Liverpool and n fairly
good demand Trading was not large,
but what demand there waa was from
ge od sources Tho selling was scattered
and prices continued to rule firm through
most of the afternoon being 13 to 15 points
above Saturdnj's close
Sal close Open. High. law
January . . 19 M inn ia at i. t',
December . li 83 lias 1J 41 12 ss
lurch .... li 70 1.-7H 1J.S1 12.71
May . ...... liliO litis 13 ot 12 ni
July J.-U7 13 OH 13 11 13(14
October . .12.17 J.' m lira ini
Spot li.zo
Close
1 2. .13
12
l-'.M
1101
13 01
l.'UI
1J.IO
METAL MARKET
SEW YOItK. nc. (L-taJ offered nt 5 SSc
tin. beat). jY.JJSJS 23c. TtM mtrket to
Prime Weatern siwt, lite
lions ranire from JVjC down to J!c. per pounJ
silter nas easier.
i'eevmoer. 10c , second Quarter, lniii.
Jlm Ilinier
Maenriara
MlilH.'V
.Mlzpnb Kx'enslnu
Montana
Ni.rih .star
mTor.ojnh Ilclninnt
lnnciuin Jlxte nJinii
'luriniuli Mining
IIomii- Lull
West i:nl
cioi.nrii:i.i) hiocKb.
Atlanta
nun. nun
ili.ulh
Ilullilog
C O u
e'ombluutlon Trartlon
niamon Itlet.l II II
ImIh .
Florence) ,
elolineld Conmliiliitcd
(lot lliel.i Mrrt-er
Jumbo Uxt
Hid
1.IJ
. em
.14
,11,
.17
14
4',.
lis
Ml
01
.311
(CI
.0.1
Ke'wan is
Oro
hind Kin
Silver l'lclt
K.ilrt A lec
KImf.iTb . .
Net Hill
Nev Wonder
MlbCUl.UVNI.OL'h.
.01
.01
.M
Ill
l.'.'O
.'-'I
.11.1
.07
.07
.01
. (IJ
. .17
J.M
Asked
1.11
en
II)
.11
.IS
4'.
V"
1
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.11 1
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04 I
.OS I
111
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'17
I
1.J3
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.07
.lit
.!i 1
Enfflish Gold Holdings Larger
LONDON, IJec. G. Reginald JIcKcnnn,
Chnncellor of the Kxchciiuer, announced
In Commons toda th.it the amount ot
gold coin held bv I'ngllsh banks on June
10. lSl), was foJl.COO.OO), ngalnat JI1I.WO,
(00 on June CO, 19N On June 30. 1313,
tho public held JXI.OOO.OOO of gold, against
J50,WiO,OW on Juno J), 1911
Drop in German Deposits
HI'ItMN. fee. 0 The statement of the
Itclchsbank ns of November 27 chows In
cieates In metal stock, treasury certlll
catei. and notes on other banks of 00.S0O0OO
marks, of which GOO.OOO marks were gold,
dl'LouiilH and ticasurj paper, 4,!fW,t0
marks: loans, S.O'M.OOO marks; securities,
3,:il,OiO mnrks, nnd note circulation, 231,
o'.I.OcO murks, Tlu deposits dl'creusl-,,
Ui-).0G0 marks
RATES FOR MONEY
The follnning rates for money nro quoted to
broLern anil nro not neceas irll tbo rates for
other lonna
Call Time
New York , n.iflJ 2'i'd I
1'hllidelphla I'Jli I l',il
llicton . ... I I'm
Chl iko . IIWSJ 4 T44
Conimerclel nper, threo to six months, l'lill
anilplita I'.fii jer cent.
,0.1
1 I
i
I. no
I'hlli
llOrtlOll
New York
linltlmoro
HANK CLEARINGS
Il.irk clearlnKs today compared with corre
sponding da last tuo )ears
l'Jll 11114. inn
$2"'.U.'1.70 Jill 14h S'll 22. no oil
. Si' lull. 13S 17.1.17.70I1 lliOlinsv
f.")3.lir.' VIS IJI3 MII.IIJ4 2H KS.I (I.1S I
ll,(,Sl.ltl 5 703 HU 0,2111,1,12 1
BAR SILVER
LONDON. Dec. ll The price of rormnerelil
bar silver today adtanced H pence to 27J.1S
pence
In New 'lork the prtc of silver waa S0'4
cents, up IH
UnitedSlales Government contracts
on hand $6,642,000
Lake Torpedo Boat Co.
Earnings on the above should
show at least 50 on stock.
Thlt It only one of iht factors dealt ulth
In our tlrtular.
Bluett & Hollins
IS Broad St. I.'ew York
Financial Briefs
The annual report of tho United fruit
Company shows a balance (Unliable for
dividends ot 10.1 per cent, compared with
Cl per cent, 'he preceding vctr. No ad
ditions were made during the venr lo
(muled debt, hut Issues aggregating II,
77',120 were mnde by subsldlnry compa
nies, mainly to pay for new steamships
Hands ana debentures were retired dur
ing the ;.rnr through tho operation of
sinking Hinds nnd redemptions to the
mount of $1,093.1)07
Darclns & Monro were hujers of Phila
delphia Electric.
The New York banks gilttcd $231,000
from the SubtrcnRtiry Saturday, nnd since
last Trldny, JW.000
The federal lteseive Hoird today an
nounced the election of P. A. Walls and
David C. Hlggs ns directors of the Pod
cm! Unserve Hank of St. Louis, nnd of
I. P. lllllver. of Axon, On., nnd J. A
McCrnij, of Decatur, Ala., as dltcctors
xof the federal Iteservc Hank nt Atlnnta
Klchmond hns become nsso
Charles C Hnnlson, Jr As
Pr.tncls 11
clateel with
Co.
Addltloml capital stock of various com
panies added to the tegular list of the
Philadelphia Stock Exchange Include
$ilG,M)0 Ameilcan Telcginph nnd Tele
phono Ceunpnnv. Issued j-07,7C0 In o
chnngp for J'd.'.SOO convertible 4'is can
celed and stricken fiom list, and $9100 In
exchange for $12,000 convertible 4s can
celed, nnd $1500 Ameilcan Gas C'ompnnv
Issued account of conversion of like
nmount of collateral trust convertibles
concelcd
DIVIDENDS DECLARED
Mr till
rnwl O
Itiirllncton. reEiilnr oimrterlv 5
to etork of recort if
nintlp December
cember 20
Ar.ierlrnn Woolen Compnn rulr m,.
torly ljv, rr rent on preferred Mi'bu'ff
unri 11 to Rloek of record Deecnbrr It
I'rov blent Life nnd Triift t ominr, rmi.
(ltinrterl tl per cent, pnablo on demtif
Factory Floor
For Rent
Manufacturer has one floor of
over eleven thousand square fee!
in his new fireproof building to
rent, light on four sides, one
block from Second and Market,
occupancy March first. Reason
able alterations can be made ia
specifications and plans by apply.
ing at once. No agents.
The John Crompton Co.
328-336 North Randolph St.
Telephone Market S.'Ol
Keystone Telephone Co.
First Mortgage 5 "ft Bonds
Due 1035
Ilnnds iitf.tmidlng represent nbimt
one half the iininutit of cnrdi Invented
In the prnpertj.
Net earning fnr pnit four years over
tnlee latere t e biirgrH.
I Med on Hie 1'hllu. .Stock Richnnge
l'ltici: 'jo n:i.i) AiiotJT
Free o( Pcnnn. State Tax
uksciiij'ti i: nitt'Lr.Ait on
itMiuKsr
Harper & Turner
Investment Dangers
Oillres: 1000-1013
stocjc i:rn.M.K iilii.dinc,
I'lilluilelpliln
vim
' ,,
' aw
P., C, C. & St. L. 4s
Series D
Due November, 1915
Price on Vppllcnllon
t
BOND SALESJIAN
We offer a position to an experi
enced bond salesman who contros
a clientele of his own; communi
cations confidential.
A. Ii. LEACH & COMPANY
A 6 INVESTMENT
The above refers to a first refunding mortgage 5 gold
bond due in less than 13' years.
The company is controlled bv and under the management
of THE UNITED GAS IMPROVEMENT CO. .
We own and offer subject to prior sale a limited number
of these bonds to yield 6 on the investment.
Full information upon request.
REED A. MORGAN & CO. SJi&'iMai
lKE.tUf
xrasra
-- - --"
l)llli:CTOIIV OK ACCOl'.NTANTS
terllllril 1'iiltllf ,Vfriiuntant
J-AWlttCNeU E. JJKOVVN
18J5 Itb'AL JJaTArB TIIUU1
A. CO
tiuit.ui.Na.
ItUltNS fc srUVJCMAN
Th Hourte.
Forehandedness
January is one of the largest investment months of the year
Next month oer $200,000,000 will be distributed for interest and
dividends. In addition to an already largo and increasing demand
for good bonds, a substantial proportion of this great sum must
oe invested.
We therefore recommend the selection
of January Investments from
OUR DECEMBER LIST
Th2dliS?iltel7ndr onlSeyiJanUary by "
BANKERS
Established 1892
Slembera New York and Philadelphia Stock Exchange
Broad and Chestnut Stb., Philadeu-hia
30 Pine Street New Yoek
The American Railways Company
cami)i; o i'l'i en
41T-4IO .Market .Street
Cumden, N. J,
rim, vniM.i'iii v oiticb
1)04-017 ltlirrpo(.ii llnlMlu;
ViSl Wiilnul street
I'hlla I'n.
To the Stockholders of The American Railways Company:'
In response to the offer of the National Properties Company, as out
lined in the circular to the stockholders dated November 13. 1915, sufficient
stock of the American Railways Company has been deposited with the 4
Continental-Equitable Title & Trust Company, Trustee, to warrant, in the j
opinion of the Board of Directors, the statement that the plan will become op-
erative. Nevertheless, in the judgment of your Board, it has been deemed ad-
visable to afford an opportunity to' the remaining- stockholders who have not -availed
themselves of the offer to do so for an additional limited time.
In the exercise of its discretion, therefore, the Company, under the
power vested in t by the agreement, has extended the time of deposit with
the Trustee, the Continental-Equitable Title & Trust Company, Twelfth street j
P, M. No further extension will be made.
WALTER W. PERKINS,
Secretary.
November 30, 1915.
J. J. SULLIVAN,
President
T