iBSS5S5!!M5SiTwiw
g-tyy.ri -a
WTVHfT'X
I
R
G
EVENING LEDGER PHILADELPHIA, SATURDAY, DECEMBER 11, 1915:
)UTCH SUBSCRIBE
M THE NEW LOAN
AND HELP FRANCE
Aov That They Have Con
fidence in Credit of
the Nation
UIOUNT NOT TOLD
FOREIGN EXCHANGE
M.
Merlins Tmlnj. Lloc
t'rmnnil 4.7I-', .11Tfc
Cnlilc. 4.M 4..
Tranc
I'rmnml SHIVi s
t'i-hlfi KM
Mntln
tlrmnnit .8 V4
tnl.lf 78", 1 1
New York Slock Sales
Lat close
Adam Fjprc 12S
By YVES GUYOT
Special Cable Dispatch to liitnlng Ledger
Editor t.'Aftrnce Kconomlnue ct Planeler.
I'AniS, Dee 11 All guesses ni to the
mount the loan has brotiiihl In are
.remnturo nml worthless. Unnks nnd
tlier efttnbllihmonts of credit nro in
orestea In lieopliiK secret until the l.iut
ny the stuns they hale taken In.
The loon will certainly accomplish tlio
primary purpose ot consolldntltiB In a
ocrmnncnt loan advances mado by the
Hank of Trance nnd temporal, louiii In
'ho form of Treasur. bond' and bond
for national defense, but It would be an
"rror to think thut all tempoinrx loan
will be obsorbeil by the new loan, a of
8,000,000,000 francs of bonds for nitlnnnl
defense there certainly will be 2,000,000,00)
which the holilets will stick to In ortlci
to keep a proportion of theh fund' in
liquid some people who want to keep part
ways Boiuc people who wutit to keep puit
of their resources mobile
Tlio balance sheet of the Itonk of
France lor December S shows that the
Bold In hand amounts to l.'i ,6,009 iO
francs, an Incruiie from 1,877,000 000;
francs on December 1 This Is 12.000 AM
francs more than the Inctcnnc for t lie
previous week
Loans have progressed from Ml 000,00.)
francs on November IS to (2o 000.000 francs
on December S As I havo iilrcnd. re
marked, the Interest of C per cent
chnrKed by tho bank prevents borrowing
at tlio bank to buy In the national loin
News from Holland tells of heavy sub
scriptions to the loan The Journal dc
Geneve saji neutral llnanclcrs know
Franco has never failed to keep ciiKsigo
ments, and do not forKct that loans of
1871 and 1S72 passed par In 1371 and
reached 121 In 1SS1.
10
.2U
.'(I
SI
7PS
0
Itlfth. Uw. Cloe.
128' 125 1.25
U)H UH
2J'j
31
M)5i
71
r,)
ENGLAND AND HOLLAND HAVE BEEN
SELLING UNITED STATES STEEL
Latter Liquidating in Order to Take Over German-held
American Securities, and the Former Is Closing
Out Estates Market Still Professional
..tit'i
imi
. ion
fit
fiS'l
117 i
New York Bond Sales
3W0O Anglo FY I. 3d . ;
4AoO tlo (a .10) .. liV,
BOOH Amor Tel coin (- , .tuic.
i'lOO Amr r Tel ct 1'$9 1(17
1WI Armour Co 4'j . Ill
SJ.VJO Atchlion Ken 4s . . IUV
WOO Atchison n.lj 4 ST'
sono Atrlil-on r.s Kit"-,
".'000 Allan Lo Line let 19 Wi.
;o)(i IUU .V. Ohli 4 HIS
24WO Halt A. Oh iv -CiK . ti7,
10OO II & O ll. I & 4 N7',
82000 Halt .V: (1 ISwn TH, U2V
1O0C.O ileth Htnl l"t Is tOl
400il Ileth btcd rfd 5 lnl",
WOO Ilrookltn It T " 1'ils mo'j
,
llHKi
101
111!
1 Ml'!,
-7S
it.
. 71
. US',
01
Nlil't
IMS.
inns
m,,
. 7I
10' j
$
tin,
.IOT
111!
ll'l'l'l-j
1
ii'-
' le'iV,
lllij
is
'l
1)4 '4
liUS
, tiV4
liioo (JaiiJ.t.i Eolith ,1
Soihxi Cent Lrnttier 1st
10000 Cent I'm I tit 4
tOOO nt It It N J .n
84000 Chill 1 opper 7
200O Che . Ohli o4 4M
ttooit Ch-a & ihlo IHa
4000 (.hi fit Went
KKXiO Chi II & Q Joint la
KIOOO C It & St 1 Ken 4s.
B.110 c vi & at I ev n .
ldOJ cutu n Am Sub (la .
MXXJ Del & Huil 4s mm
.10CO Del .V. Huil rM 4s
NIK) Den fc Klo (Ir 4s
SOW Den A. Itlo (!r rr,l
KOOO Fr o conv la -or A
JiJOOO Krlo ,nnv 4a Scr 11
i)0 hrlu prior Is
:oou nmnhy (a .
l(tKW Oranliy htr i.n
4(00 Hu.l & lun 111 "i
Mi do ml a
lino lmllaim htrcl
(4HHI fowil Centr.il la
SiiimO lita ( opi , r is
COW Interb Met 4'"
UimiI innrii it I' If, 7,4
VfO lnl JIci Mnr 4'ji
RIM'i ilo rt
111(0 Jai new ( H 4'jm
400(1 J.inancsc i.js
.Val du 11 4 i.a .
im-ll Kan ( Itv .So a
10"1 Klnci I'o 1 Ie ,
0O Ijukii 1-lccl -,m IIIJ.I
IIKIO l.ch Vnl A N V4
Sj(l I.Ik & I T :
(Ki Iini: Nliu.l rf.l -Is..
niMI t.oul X. Nimll 4s
Torn Mn rorlile la
S"!(iOO Jn c ",s .
r,noo lo 10I .-.a HUT...
(1000 do (is
2000 Mon Power la .. .
lSHinn X Y I Di
2ono NYC. It Pis
I00O N Y Cits 4a 111.,
,101 10 do 4a l(7i
11011 do 4 a lull", .
HH N Y N H A. II oa rei lll'j
anooo n ni mu r,a .,",
IfHK) N Y Tel ecu -4V.S
6000 Norf .. tst Toch 4s
2(nO Norf VVett c 4l-.a
4000 Nor lac prior 4a
1000 Nor 1'ic ctn is
IHliwi I'acirtc Ttfl Sa
CliOl I'tniM Ken in 4!a
l(l I'uLllc hirv X J "it
4MK1 Itay Com Copper is
.10(41 Henillm, Ren la
lamo Hip Ir A s "
lniki Hock Ihb.n.l 4a
7nro Itn k Isliml rM -la
1141(1 St IjlUls Sivii 1st 4s
2iitr Seabrkir 1 A I. nJJ ui
Wirn Seal (1.1 nt A I. rrd 4
4(100 South I'.ie cv 4a
fit) 40 cv ret t p .la
im fnuth I"ae rf 1 4a
lfm South Iln y un 4a
lo O do con la
Kiri Texiia Co 1 a
(,000 Third Ave adj sa..
nxxi (i H ituDPer us
Low Clone
n7"i U1I4
UJ P.-.J,
li nu. K(iij
107 KIT
Pi 11 1
II 1 114',
7'j 7'J
lllDj Kll'j
lljl, HJ'i
t'lN "li,
HI4 t,)4
ti.'it ni'J
1(1."., 10.1
10l', Kll'4
lKl'j l'JU'j
IOC, KH'j
HON HIS
mil. no',
110 ltd
10 10
S7,
Pl'i
,4
ns
ui
10U4
iitiy,
lun'i
1H,4
71'
'.;.
Sll
10.1
llll
m
liVi'ij
JY
7iiv,
III.
IH'j
AlrKLi Jnneiil
Aliskl Coll M . ..
Atlls-Chilmer Mf..
Alll-Clnlm Mfu pf...
Am Atr Chemical
Am Meet ucr
Am Ilralto 8 A K ...
Am Can . . .
Am Cat.t Founltj..
Am Coil 1'ro.luct . .
Am 1 1 Mo .t Leather ..
Am Hid, & I, pf ,.,
Am Ico ciirltj .
Am 1 ocoTiotlvc . .
Am -melt , Kef ...
Am bin A Hef pf
Am -melter pf A . .
Am Nnplters pf II
Am Mffli ioiinJfl'i
Am SiifM lief
Am lei A lei . .
Am'lobicco
Am Woolen
Am Woolen Ir r
Am Woolen pf If r
Anaromli ( oppr ..
Aet lleillzitloii
Atch rssi.
Atch I A S F pf . .
HaklRln loco ...
llalllniore a Ohio .
Itamplln Mliiln
Ilolhleliem -leel pf
lltookljin Hip ir . .
Ilutni HrotlnT.4
llutte A upotlot
Cal 1'otroliuni . ,
Cal IVtroleuni pf
tanadhn I'acltlc .. .
Cent leather Co .
Cliesapcako A Ohio .
Chile Loppof
Chlno Cop,i'r . . ..
Lhl 01 West
( hi (.t Westpf .
Chi Mil A M 1'aul ..
C M A !t 1' pf.. . .
Chi It 1 A I'M! ....
Cluett 1'ia A Co ....
Colorado 1'uel A I . ,
Comp I all Hoc
Continental Can
Consolidated Oaj 1UH HJ'i lll'i
If)
2.1
3I5
S1JS
71
I0'
H)H
(it)
OU
2d'
.I1M
Sl'l
71M
70
lOJ'f 10J) lOo
6'J'i t,0'i (O'l
?0 78'f
ltl 1I0H Il'IH
JO'i 10H 103J
fl CU 5 51
LOW 204 20' i
OJ'i 05 ''.
110H 110't 110'i 110M
, SHj 8'1't 8 H V)i
HVi XMi 8.V, Ki'i
ttl'l (ll'i 01 OPt
Ho'' llfl'4 llo'i tto'-t
12.'l 12S i l-'S'J 12S!i
21 Vi 213 .'OS 20'l
13 ISH 17 I7'j
II) I IM'a -1H1S 18H
1I7' OS OS OS
J-j'. Sll .' MJS
ll'i 10 10 10
10U lOO'H 10(1 100'i
lOt'i Kll'i 10i;S I01M
inn mn 111 H.15S
Ut)$
Vi
100
,SS
N)
70'f
20 1
All
171'f
Mii
02
21
is
.'MS
w
w
ir.;
HSt
S)
.t)'
7H
V
0,1
;i5.
loj
SS
so
09'
LOJi
:.o
W('$ 17S
am 3m
r,j
2I'J
:i'is
01
0.
2.1'i
SI
115.'
K'J
out
UJ't
1
16")
hS'i
so
70.
'M,
f,0).
ISO
fill
02 'i
2 Hi
r,i
in
mu
19?
00" j
72'i
111)
1115
10't
2S
I2't
.-.7' 4'
ro't
Hill,
;,r
vir,
leci,
ir,
lll'i
111.
11114
1ST.
7M,
IH'i
ll.,
1ISS
mill
S7ij
HI',
4H
r.
KS
100U
IHl4
111
tltS
'it,
!IS1!
KM", 10ll'
MIk
H2
71
IIS
II
llKIS
KU".
1HOS
11,1.
7lllJ
IJJ1-,
7.3;
M.
.ll
1(
na
Ml',
7",
li.l'l
.jUj
177
"(i, 1
H'lN ,
114 u
rJli
,j
7Mj
1141,
H-.-l,
f'-lj
KM
1(11.
t.7',
1114
tl".
4",
04
1001,
a.
lilt,
m
(isv.
,.-.-1
110
. II
10H
2S
. -12'S
. :.0't
. 17.1't 17
.r23 r.io
.12. 13)
. 7.1U 7,i
. 4l'i 174
.l.'.Vt I Mi l..)
. IS', 4b 1 -IS
. 70 3 704 7n'l
. al'i '.i -'1
7S) 7S 77
144.,
r,tj
t'StJ
on
12m;
tint
mi,
ii'ni
Km', Ki';
, m, lI
US',
'm
12014
nu,
in.
I
1H',
1171.
MI5
1 1-i
II4'
r-1.
1 t; ns'4
s.;
..lni.
mn,
70
10.t
101'.
M
. 10.111
UOHO V a fiteel 5s 104
Corn 1'roil Hef 10',
Corn 1'roJ Kef pf . ... 00
Cruribl" -to;l . . . 7J
Cruel Wo Steel pf ..
Den .1 Itlo firamlo .
I'Mlller.' v-urlU' ..
Dome Minis
Erlo
Krle 1st pf
Urlo 2d pf
lienenl hl-ctrlc
(,enenl Motor . . .
tioneral Motori tref
t.oolrlch II V Co . ..
ti rcc ne-C manca . .
drtat orther pnf
Gt N rfs for ot' pro,i
CiURirenrclm I'xpln ..
Inter Con Corp . . ..
Inter Con Corp pref.
lnt llartester N J. .
Inspiration Cop;wr. ..
Int M M pf cf dp
lnt McUl .
Kansa tlty Southen .11 )1
Kinsa City Si pf . Wi 0.1 tj
lack MM M',' SVi
Lake Trie A West . Il'j lt'i
Lake Krle A Wist pf 30 31'f
Lilil.-li Vall-v. si) i MIS
LUcctt A Mjers
Mam ell Motori
Max Moton 1st pf
Max Motori Jd pf .
Minn A i-t 1.0'jH ..
Minn A M 1nili nf
Mexican I'elroleim
Mo Kan A lews .
Mhml Copper . .
MlSMiarl Tacl'lc
National IlUult ..
Nai lead
Nivach Con Copper
IS N II All..
New orfc Central .
N 'i O A West .
Norfolk A Wc-itirn .
Norfolk A West pf
North Amenran
Northern I'aclllc ....
Ontirlo Ml M . . . .
raclilcMall 11
1'enm It U . ... ,'S'i
IVorla A r'astern .. . l.Di
I'hliidelphla Co 414
riltsliws'i Covl .... It
I'ltts Ft W A C . ..151
Hits C C A bt I. ... bO
l'res.! .tel Car . . Ihl'f
Pressed Steel Car pf .10"
I'uh xrv orp N' J... 118
I'ullman Co 100
Haj Coi Cooper.. . . .'."1
KiiJ Itiadln: 80v
5,' . lUaillns -M pref I2K I!
,'' Kep 1111 .'. Mei . . . il ,'fl
Jj HIM HUI rt -.I'M! pi ..llUn lit
13.; l.'UJj 1.IJ4 13-".
11) 10 lb lsi
7,1 73'i 71M 7.H.
toi ".1 f.us r.o)
4! -114 !. 4l)i
b7tj Ki'-i Si'!! b.i4
11. "i
10't
005 i
72'.
110
114
104
23
124
;.7'f
;ot
104
00
714
110
114
40
27!
124
50 3
so
171 i 17t't
.MO li 10
1244 30
7P1 7J'j
15 104
1254
18
704
21 ,
77! ,
1104 1104 1104 110 n
141)
ns'i
tin
12m,
UT.
miv,
win
mo-,
Mk
121
in;.
H7t,
41't II'
r,vt i.
1074 it)')
.11
114
M'i
114
30
si)t
..251
. .1
.. 09
. -i54
.. 154
314
.. I 14
04
. M't
.. Hi
..125
.. 12'!
104
. 71
.10.1
305t
..1104
. b04
73
4!i
154
1074
MM
03! j
bl
134
314
)-04
255
1.14
ro't
1074'
.lll'i
Ci4
SI
114
33).
SI
i.)'i 1 i'i I Vi
09'f 0)'J 004
CO 55V 50
154 I5)t 154'
ji :u .'it
W'f 01 U-
us- mi oi
.'34 33 314
14 m 44
125 125 12
i.l 0.1' j i.l
104 104 104
75 f 744 7 P.
1054 103 lOt'i
30 30 30
1214 1104 121
Ml'i S.4 bfiSj
71 74 71
1154 110 f 1154 1154
Ill's 104 04 104
114
.1S4
114
41
314
l.-J-i
80
Ci
1014 1014 10)4
US US IIS
10. 10) 105
L-.ii
114
5 4
114
U
til
15S
80
M4
114
504
144
43
354
15s
bO
014
.1(10 do rec- 1. . . .104
lOtan Union Tac lal 4a .. I17S
1000 do cv 4- HIS
40H1 do rfd 4a . . mi!
ltXH ln Rivvs H T 4s 44
. Va Car dim 1st 'a USS
2(100 Vb, Httja jt Iim;
Kl Wabnrh 1ft "a HTI',
lltn West UiJIil .la in,',
loco do t i 1 tv,
Kin
tint,
70
ltd
HH'
hi
U!t.
1(11
101
07',
in2
Ml' ,
44
no,
i-.tj
urn,
inm
IT,' j
SIV,
lllil
H1.
70
10.1
1(11
SI
II7S
HIS
full.
41
U VI ,
,
lint.
KBi,
114
Hock Island (o f
Mock 1-.I in 1 Co prof... i
St LouH A SF J4
St LouU AST 2d pf. (4
Seaboard Air Line .... 184
M)4 bO't
11 15
i 534 ', "5
4 1104 4ll
U U U
U il H
44 14 -DS
04 04 04
184 184 184
bears lioj A Co 1704 1704 170 170!f
Sloss-Shef S A I Co .. 014 ai 01 03
Sloss-blwf S A I pf ... OJ 1004 OOJi 1004
Southern Pacific 1004 101 10)4 101
Total Milei, $.',110,00(1, iiimparrd with
t,oa 1,000 lat Sullinlaji thU nerk, !,J7,33 ,
000) laat ueek, J'3,4 0(1,000.
BAR SILVER
NFTtV YOH.K Dec. 11 -liar silver ttai quoted
Kt 60c. In London 20'd
iiiiiiiliiiliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiWii
lllllllllllllllll IV.
I KT IZ taWfssl m
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiii
Thtuo tires mark tha
end of road trouble.
They are guaranteed
Puncture-Proof
Blow-outs are also
guarded against. This
gives LEE tires excep
tionally long life. Zig
Zag Tread checks
skidding.
New Booklet RtaJ If
Lee Tire Sales Co,
330 N. Broad St.
Southern Hallway.
etudelnker Co . .
Trim Copper. .
lexis Co
Texas A Pacific!
lliirl Aienu"
Lcltml Cljar -.tore
United Cl'ir Mfra
Lnlon Da,- A Paper..
union p.clfic 1174
Union Pacific; pf .. . . S3
U bind Alcohol 121
United Fruit ll",)j
U S Kealty A Imp.... 41
united lty$ Invest
U b Rubber .. ..
II bhteel
U bbteel pf no
U b txpresi
Ltah Conner
Va-Car Chem 40Vi
Wabash w i ,
Wabash pfAwl...
W abash pf II w 1
j WellaFauo Kxpnj
J W esllnjhousa K A AI
I Western Marjlani..
Western Untoj tcl .
W keel A Lake trb .
WllI-3 Overland .
Willys Overland pf .
Wtoiuoim W Co
221. 22)4 22! i
.1014 1004 10,14 100
57 504 5114 flti'i
2114 2n 2114 Sit
144 114 114 144
014 1114 014 out
. 03j )4 0), 0!j
03 oi cj (::
r, ,i ,'i
137U' 1104 1374
b.1 824 SJ
121 1204 121
147t 1104 1474
414 41 41
21 214 21 21
. ."14 51 534 6-1
tO 4 bG4 85) i SO
110 1104 110 1104
40 4S i 484 484
7SU 704 7S4 704
40V! 404 4t'4 404
154 104 154 104
454 154 454 -ihM
24 -Mi -.St .SH
US 127 127 127
07b OS 074 07M
3-' JJ 3J 3J
b,S4 kS't 88J5 684
iV, 44 44 S4
Jl .'41 210 240
115 1114 1U4 1144
1144 1144 1H4 1114
TotuI tale, 291,000 tliarrs, compared hIH
210,400 aliare lut Satur.lu) j tills vievk,
3,380.991 share.) last week, !,7!!,700 sbarrs.
NEW YORK CURB
ninri.iuu f.inv , i'j
I.ruden . HW
llrl,l.t..lni,wlni Vil- tir. nt.l ,,,'
... .W- V.H.. MV. .WUUVVW W,,, , . ...J
! HrltUhAimrtC44i4 Tobucio neA . ..11
Car CUbt 74,
GoMHcU Coiu lVi
. Intwiutlonat Murine ,,. . lip,
Intvrnjtlonal Marina prf (HI
Ktnnwott C'OBfwr MU
' l.tbish Vall- Coal Silas , SI)
MariAHil ... , ., ML
Mid vile .. ,.., 71K
Mpuulng ....., 7
IHU Huyator , 71
, Jtta BWwtor or .,.,, 02
I.tkar-IlMonwn .-.., "4i
fcturU-wi Cviu .: 2
Submarine 41 1
i T.latco I'roUutla . .........33
1 "nlUii I'rollt SturtDK new IK
World ruoi ...
Yukon Guld 2Ji
DM AsJtiul.
int. 1.1 1,
liVJ
10
1
1-.1,
(.7
5--tt
S2
S
7K
04
3
!
2!.
niuECTonv or accoin7anT3
1 rfiiw.j t'ttbllc Arruuntsou
,U Jili.Nv.fc. i WiUlV.N & CO.
ii. &STA7E 1'IU iT llll rilNI
tl.. V Srr UiSA3t
tlt llOUTM.
NHW YOniC, Dec. 11.
The Street In the short session today devoted n. great deal ot tlmo to look
ItiK for a renion why the mnrkct, and especially United States Steel common, did
not reipond to the excellent unDllcd tonnage statement which camo out yes
teiday, ns tho showlnrr wai much better than the Street had dared to oxpect.
Tlio apparent reason, the general opinion had It, was that Steel has been sub
jected to heavy selling from nbrond, particularly from Kngland nnd Holland.
Information today was that Holland has been selling Steel common In con
sidernblo amounts, ns well n other American securltlei, which oro being re
placed with American securities held In Germany. I.ngland has not only 1110
blll7od largo amounts nf Steel In the Joint stock banks from big Insurance com-
l jinnies and from largo estates, but ovcry opportunity li taken to dlsposo of such
slocks In the market In Wall street.
One of thn outstanding factors In Hngtand Is the necessity of settling
many estates because of the deaths In tho pcerngo In tho war nnd from
(ither rnttRei. Death duties on nn estato must bo paid to the Government,
which results In the selling of tho stocks. Tor Instance, on nn estate of
$5,000,000 death duties nre 20 per cent., or $1,000,000.
In the early part of tho short session today thcro was further selling, which
rami largely from the professional nnd semlprofesslonal clement, but toward
tho close a fairly good demand developed. Tho demand was principally for
the rallimul shares, nnd some of them showed quite substantial gnlns at tho
end nf the session. Tho feature among tho wnr specialties was General
Motors, which advanced 15 points. The Anglo-French bonds wcro ngnln wenk,
dropping to n new low point at 92. The mnrkct again today was almost entirely
professional, tho public taking very little Interest,
Sales in Philadelphia
WHEAT RALLIED;
BUYING GOOD
Twenty-four Hours' Export
Sales Only 300,000
Bushels
CHIC'AOO. Dec 11 -Wheat milled this
morning, pelllng abovo yesterday's close,
following a lower start In sjnipntliy with
the rubles nnd large receipts flood buy
ing was responsible for the upturn, Kx
pint sales In the Inst 21 houri were only
IVI.OOfl bushels, but the opinion was ex
pi(snil that thcro would noon bo an Im
provement In business with foreigners
Hulls argued thnt It would be proved be
fore tlio tloo of tho fenson thnt the
amount of mnrketnlilo wheat produced In
the t'nlted States this 5 ear was much
Kinaller than had been Indicated by the
(ovcriiment ciop estimates The weather
111 Argentlni continued fnvornblo for
hni vesting
The mniket nt Liverpool only pirtlall)
reflected the vvctkness hero vcitcrdnj..
I'i lees tlieic wcie ensj., but business wns
not large becnuse buers nnd Belters were
apart The weather In the t'nlted King
dom was .ignlnst the movement nnd na
tive offers were disappointing Alt ar
rivals nre being nbsoibcd t-nlcklv Tho
receipts nt Minneapolis nnd Dulutli today
vveie 1191 cars ngnlnst 67fi ears a cnr ago,
at Winnipeg, 1211 cars ngnlnst 181 cars, nt
Chicago, W cars against 120 cars
Corn nlso developed llrmncss nftcr
showing easiness at the outset In the
initial trading the market was affected
bv the setback In wheat nnd predictions
of a lurgpi mn next week The weathei,
however, wis unsettled
The market at Liverpool wns dull
There was nn absence of pronounced lie
maud there Tho receipts here todny were
210 enrs Locusts were reported In Argen
tina nnd it was feared they would en
danger corn
Trade In oats was small. The market
opcnid steady, but moved upward with
the other grains. The nrrlvals here today
vveie ICO cars
l.cr.illriE futures ranged na follow"
Ytsl'rt a
v licnt Or en Illirh. I-nu.- Pin. f.lnn
iit. muer 1 i. 1 1 1
Mu . . 1 IN. 1 1H
Jul! ... 1 IK.'f, I Il7
v urn (new .leiner1
NEW YORK RANK STATEMENT
Bit Increases in Loans nnd Deposits.
Reserve Reduced
N'I'W YOtUC. Iec 11 A decrease ot
2, 120,330 was reported In tho average re
set ves of the sen York banks today The
netunl figures, however, only showed" a
nominal falling off. Actual loans rose
over $21,000,000, and deposits Jumped about
tho same amount Total averngo loans
wore Jt.150.407.roo. with deposits of $1,223,
tiTIOVi. and time deposits of '.I'i'.MCli'X
Tho aggregate reorvo was $73o, "121,000 De
tail follow
Clearing House members avorago loans
Ineiease, JI7.573.CCO, deposits Increase, $3,
4C0.O00, time deposits Increase, J1.7C2,
COO, reserves clccreimc, $2.I20,'T.O
Clearing House members actual loans
Increase. J2l..l3,(XO, deposits Increase, J2I,
OtiS.OOO; tlmo deposits Increase, J2.S17.00O:
leserves decrease 1113,920.
Te. close. High tow. Close.
1 Am nwjs 81 1 8l
10 Am lwjg prof. 0. 0i "5 B'
80 litopl1 Mln.. .
8R41 Csmbrln Steel . 7H4 "Vi U .5
800 Elee StorSRO.. . Cs'i f. CSH OS.
20 Lrl 42H & H 421
100 do 1st pref .... COS tn BOH
H8 ln Co N Am.. 21 23 .4' M
100 In.p Copper ... . H'i ' 4i'
80 Ijvke hup Corp P'l O'l OVt 0'i
M Lehigh .Vav ... 794 7S'6 tSf, 79S
21 Lehlnh alley . 80. S0i R04 SOi
10 Leh Vnl Tr pfd .Is 33 38 33
1221 renniv It It . CO 60H f'8'4 t9
t0 l'a Silt Mfs . . 00 100 00M 100
3 l'rnnn steel .... 01 02 C2 02
52 do pref . . .82 8lH 81'i 81IJ
73 Mill Co cup pf 41 2i 42H 2i
IW1 Milla Moo .. 2 23 27'i 23
TI10 1' II T tr ctff.. 20H 20Vi 20 20X
27 Milla Trc ... . 70ti 70S "0'4 70S
213 Iteadlnit . ... f0'4 80. SOH f0
133', Ton Pelmont ...4 13-10 fi 4'fc S
t-) Ton Mining . .. 7U ", 'W IK
10 Union l'nelflo . . . 1.0. 130V, 13m,
IJ2 Unlin Trnc ... 41 4S 43 45
211 U Clm Imp ... M'i R8S m S31.
2ii13 U S Steel 80 80 8H 60-.
32 W J & S S ..CO'. COti W)H C014
Totsl snlen, 18,703 obnrr-, compared with
41,001 nlinrri last Xntiirdnrt tlila week, 107,
812 dinrcst last week, 339,733 ulinrfs.
110ND3
Laat, prev.
ralo High. Ixiw. Cloie
1100 City Mia ll.1t . OIJi 01 04 M
KXA) l.k Sup Ine 4. 28 27 27 27
frOOO I'enna gen 4"4s.lOO'' 100'4 100'4 100'J
COO 1'hlta Hlec 4a . 8.1'i 81 8.1 W 8.1W
200 do la . ... 101'j 10314 10.T4 ID.'1
Total aale-, I0,000, rompnred with JI8,
fiOO last Halnrilitj-s this week, $111,000) last
vrerb, J422,330,
CAMBRIA EARNINGS BREAK RECORD;
COMPANY BUYS FIVE ORE STEAMERS
Optimistic Predictions by President Donner Rapid
Transit Maturing Loans Extended on Good Terms.
Brokers See Bright Future for Company
Superior ore prices for 19i ,. .
nounced at nn advnnco of about 75.
a ten. '"senu
Pennsjlvanla Steet common decllnM
couple of points today on small l..
nml the preferred also eased off: pm..
delphla Klcetrlc was moro octlvo K.V
of Into and distinctly firm. than
llapld Transit shares were Indlned
react today despite tho nnnounC,m,M
that tho company had been able to ,.'
new some Blx millions of maturln-r loan,
on very favorable terms. The new Cnl
will run six months and nre to be r.
newnblo three times for like periods I
the option of tho company Thev win k.
secured by $7,200,000 6 per cent, bonds Ru.r
antced by the Union Traction Comnan
and pledged as collateral nt a price of a
The lenders will receive npproxlmatelr
C per cent, for the money It Is said that
December gross earnings so fnr hT
shown nn Increase of about D per cent.
Tho recent buying of the stock, accord.
Ing to ono of the principal purchasers,
has been based upon tho knowledge of
tho expanding earnings and because the,
company's futuro looks to bo brighter
than over before. It Is argued that th
maximum of Us expenditures has been
reached nnd that like the Interboroujh
Metropolitan of New York tho company
from now on should rapidly Improve, ltj
earning power for net results.
Local Bid and Asked
1 12 M 1 tt.
I ll'i 1 l'-M,
1 0l. t.07'4
Hot ember
Mil)
U.tK-
lei mLtr
Mii
Ijrd
Itetf niter
lunu.irv .
JI 111
ntb.
iHLimher Jnuuar .
Mii
I'orlt
tictenitcr Jauunr
ia
i.i,t.
7(ii
41
441,
o n.
D.S7
II 1.11
1MU
.tin J'
IS Ml
IS 0 ,
71t
414
41.
IJI',
701 4
40',
14
r,7l,
t7lt,
t4I',
H4".
I11U tAnked
It II'.
li 115
V 03
iso-
IMII
tl.',".
US',
H..V,
1UO
17 0
17 03
0 40
II (m!
11 HO
0(12
IMS
OPS
tin 2-,
is o.
18 03
1 12
1 14
1 (10),
1S4
170ij
40',
41
0 40
0 V,
in;
oco
to.io
IMW
tld.71
17.1'd
17 PO
NEW YORK COFFEE .MARKET
NI'VV lOHK. Dee 11 -The market for cof
fee future held atcoily throughout tho tendon
I'rlco thinKO Merc tuirrow Trudlng nag
flirty at-tlve. Quolntk,n follow
Todays Votrnla) s
neenilier
Tebruary .
.tanu.ir)
via reh ..
April . . . .
.Mi
Juno
July
August ...
.September
October ..
November
Offered.
mien , in. , Ifl,.
It 7l?Kt7(t (1701111,72
0 7770.711 0 7lli(l 7S
'17-1(177 (17lfl(1.7-.
1, 7ll7(- ik7sf((is.i asofmss
ILKlqilKt i:S'1(l.
.. .(I.Nfi(lNS I.SIfiUSS l,V4fill.h7
... n.8.nntio 11s.s1n1.1a1 (.siifiiidt
. niuKiiiiiiii iiainu ti- niiiifiDiKi
(ltKvaiI.PI lllllrfKl.117 ,lll7UI'll
.... (I.!l'.fl7 (It ll.t-lfi'T 00 7.00'7 0.'
.... 7.01S7 00 7 0187.05 7 0387 07
7 10
Total rnt, S30 buss.
DIVIDENDS DECLARED
Northern Securities Company, rrcular an
nual J ier 4enl . pnva'ilo January 11 to atock
of ret 01 I December II
Chlraso lii.U.iniii'olU an 1 Ixiulaillle, reeulvr
Fcinian'tuil J per itt on preferred, pa'.iblu
1 .01 , nib. r 'A to Mock of record Dciemler l.
Toilna Ycaterdij'M
llll Anknl Hid A-ke I.
Ilililwln . . . .ll.'v, nn jn j
nun (t. .iih t (J ... - ..,!, .)
In pref ',1 .',-, ,-,1
( nm Steel 71", 73 7U,
Hie, sn rn-e I.si, iiB l.sl,
(iru Alplmlt I'j I', .'I'l.
do pref 7.' 71 7I
Key 'I el IP, M'i IP.
iln t t 1 Pi M', 1 t,
lo prrf I.i.i j 1,71, i,i),,
I-ik, Mjp or U'4 liij 11V,
LeblKli Nnv 7SI, 711'. 7stj
I.ehlKh Vnl sun, Ni, snij
l.i hfi.li 1 Tr 171, IHi, 17',
do pnf ."" .IS .17 1 j
r.imn r.u .n; .vi
Thill i:iee 27'; 2S 27",
Thlli Co 4JI;, IP, 4 1
,'0 ', r er e, nt, pref 1. .11, til
,l 0 nr leu: prvt . 4Jtj 4t 4Jtj
111,14 l.tljll, 4ruuib . ,4 11
I'll t l ... JOW 2(H J
rtuulliiir n M
TonopTi I'elmont ... 4, 4'",,
Tonopali Mining .... 7' 7',
t nlon Trac 41, 4V4
1 CI I RHi, S.v
I S Steel V. NH,
Vnrk Itwy !i 'it.,
do pf.l at" tltj
Win Cramp t c 83 Ss
T.x illvldcnd
LIU.
JiiS
t-0'j
4-,
ss.
Ml
II
n.
so
'
r..
71
11
s.
i
117',
l"i
7M
Miv.
1st,
nsi,
r.iH.
is
41
......
t
MVK
si
Mis,
O'a
m,
S7
HREAK IN COTTON
IS'rJW YOMK, Dee II There was n
shnrp break In tho cotton innrket todav
which carried prices down 41 lo 42 points
under jestcrdnv's final figures, or close
to $2 a bale At the low a loss of $3 a
bale from tho highest of the season was
show n
Tho decline was entirely unexpected by
man of the trade nnd It hnd the effect
of cntrhlng largo stop-lois orders In the
commission houses.
Homo traders maintained that only tho
action of Liverpool In buj,lng tiulte free
ly on tho decline lata jrstcrdny pre
vented the break from occurring then
The Liverpool demand wns absent thla I
morning nnd this, with heavy selling for
Southern account and a break In New
Orleans, ctplalned the weakness here ns
nitali as anything A heavy covering
movement at tho decline rallied prices
about 20 points, but tho market con
tinued very much unsettled. Interests
thnt hnd been credited with buying for
Huislnn account In the last few weeks
wero heavy buvers of July on the de
cline this morning Wall street was a
good seller hero,, mostly for long ac
count -lust at tho end lliiuidatlon again
Inci eased nnd prices Mulshed weak at
a net loss of 21 to 29 points.
Yes close Open, lllnh. Ion, Cloe,
Januirv 12 IS 12 .'O 12 00 12 10 12.1H
December 1-' 41 1. U 12.1S l'.U 1." n
March ... . 1.'74 12 73 12 73 12 U 12 41
Miij 12 US ll'llil 12 117 12 Ml 121,7
Jul! 1tl 11(0 110(1 12I.S U 77
(Htnber 12 U 12 HI 12 1,0 12.12 1211
s,0t .... l.'.'iO 12.13
RATES FOR MONEY
New York
l'hlltlilphln . . .
ltnxlnn . .
inirhRO . I'UH f'4Vll
Conmerclnl rarer, three to six months, I'lill
ndelphli. fl'ifll per cent
Call
in.112
mini
1
Time,
-3V1
,' til 1
.Iljfl4
RANK CLEARINGS
It-ink clearing-, today compared with corre
sponding daj laat two vcirs
I'll-,. 1014 1011
rhlladelphl 1 f V! 711 007 $23 H-lS 017 $21 ri', Oil
Ilonton IIIIS'lll 21S10 42S 27,001,800
New York . 4TI KI1.204 270.10.1.144 .1'll.nW,070
ViAAAVVVVVVV-4Ak.VVVV-l4V,V-VVi.,VVX4VVVXVVV-lVVVV.V
5 We are prepared to quote rates and issue policies
giving complete protection under the new
Workmen's Compensation Act
We furnish intelligent inspection service for the $
prevention of accidents and offer our co-operation to
reduce cost.
ROYAL INDEMNITY COMPANY
HARE & CHASE
General Agents
309-311 Walnut Street
Gossip In local financial circles con
tinued to centre around the steel traoo
In geneial and Cambria steei in pnruuu
lar. The Street was Inclined to look upon
the break At the closo cstcrday n the
naturo of a speculative raid, and this was
borno out by the action ot the stock at
the opening today, as It rollled readily.
Mr. Donner's statement jesterday was
dlBOppolntlng to thoe who had looked for
something definite regarding the rumored
dcnl, hut any communication In this re
spect Is more likely to be forthcoming
from the Heplogle party. Mr. Donner
supplemented his previous remarks with
another brief statement this morning,
dealing with the company's earnings
He said that during tho first half of
the J car the business of all tho steel
companies was very poor but that the
last half will. In the case of Cambria,
prove a record In both output nnd earn
ings nnd will bring tho totnl profits for
tho year Just obout up to those of 1511,
which were the greatest In tho com
pany's history. He nl-o talked of fu
turo desirable Improvements to bo made
and nsscrted that the outlook was very
promising and that tho itockholdern need
havo no fear that their Interests nre not
being conserved Incidentally announce
ment was mado that the Cambria Steel
Company had bought Jointly with tho M.
A. Hnnno Company flvo steamships for
use In cnrrylng ore on the great lakes
All the steel companies anticipate a
henvy demand for ore next year, nnd na
the railroads have been forced to part
with their lako carriers, the big Indus
trial concerns nro nrrnnglng to handle
more oro than ever before In their own
ships
Statistics show tho wonderful recovery
which has occurred In tho Iron nnd Btccl
trade The senson's shipments of Iron
ore down tho lakes were 46,318,804 tons,
only about 3,000,000 tons less than tho rec
ord mado In 1313 Yet, when navigation
opened this yenr, pig Iron was being pro
duced nt only three-fourths the rate ob
taining when navigation opened In 1111
l'lg iron production Is moro than double
the rate of last December, whllo steel
, - 1 . io" lo full triple the rate ot that
month, Bteol prlcea havo advanced by
11 Mnter amount since July 1 than at
011 time since 1S99 In a like period. Lake
Ta Fre in Penruytvanla
We own nnd offer:
Reading Gen. 4s
Pcnna. R. R. Gen. 4yas
Pcnna. R. R. Com. 4-.i
Lake Shore & M. S. 4s, 1928
N. Y. & H. R. 4i, 1934
Allegheny Valley 4i
Particulars on application
A. B. LEACH & CO.
US South Fourth Street
DEL1V-L01IBAHD 1281
KEYSTONE MAIN 400
;v.VVVViVVVVVVVV-4AiVV-4,VVVVVtVVlV-l,lVVVVVlVVVVVVVVV,0
(T-
Compensation Insurance
Rates Are Out
Co-operate with other Pennsylvania employers and obtain unlimited coverage under
the Workmen's Compensation Act at approximate cost, by insuring- with the
Manufacturers' Casualty Insurance Co., of Phila.
A Pennsylvania Company to Insure Pennsylvania Employers of Labor
:
FILL OUT THIS
COUPON
stating nature of your
business and we will quote
compensation insurance
rates at once.
THOMAS S. DAMIO, Pre
Prold-nl Uaado Frlntlnn and fublljb-
Ing Co . Philadelphia. Fa.
JObKl'H 1'. MACK. Xd
Vict Frentient Union 1'4vIck Co..
l'nlladtlpbla. Pa.
PEKC1VAL. K. iOKlUlEIIEK
Frealdent Robert II. Focrdercr. Inc.,
PhlUJclpnta, Pa. ' '
II. II. tlPACUMAN
Second Vice Prciii'.ent Iukena
Iron Co. Coatmllle. Pa.
Ui.ili.1,1.1.1. b..
WJ.VSELI. Iji'AhE
Manufacturers' Casualty Insurance Company,
907 Franklin Bank Building
Description of business
General Payroll ,
Clerical " , . . . , , . , . ,
Drivers' " -.,,.,..,...,, E
This Means
YOU!
WE CAN NOW TELL YOU
THE COST OF YOUR
WORKMAN'S
COMPENSATION
INSURANCE
BEIDLER & BOOKMYER
General Insurance
424 Walnut Stree
Duanr. MorrU & liecktchtr,
Phll-iilclphU, pa.
DIRECTORS
J. GUIfcON SI-II.VAIX, Jr., Treai.
J Cltuon Mcltvaln & Co , -Lumber,
I')ilUdIpbia, Pa.
Plt.VNW K. CI.AMSON
Pr'fldtnt National WooJ Chemical
AmxUtbn, Ctauraon Chemical Co..
Hliwy. Pa.
IltYMOND W. TUNNKIX
i', W. TunotU Co . Glue and
FrtllUr, I'blladclphU, Pa.
JAMES II. PINUI.KY
President York Wall Paper Co .
w. ".
PITTSBURGH OFFICEPEOPLES BUILDING
,, ttll, Mil It
rresl.lent txattunal Pctroltum
Anhiitloa. 1'rtallent Klrt
Ndtlorul Dank, Warren, Pa,
y. KOr.lI. II.DIMKTT
"lies Preldnt Crew Llclt Co..
PbllxdjlphU, Pa. '
H. B. OArp.SEV
BSlelar' .nd Treunurer National
Cbcmlcjl Co. ue Preald'nt
uatfDojr Wrod lro4ucta Co..
Bradford. Pa.
irAiiit. i i. v.
II C Kry Ulaaa Co.. 'itocbe-ier.
LOGAN TRUST COMPANY
OF PHILADELPHIA
NINTH ANNUAL STATEMENT
NOVEMBER 30TH, 1915
RESOURCES
Securities 52,020,609.77
Loans (Collateral) 1.820.24D.59
Real Estate and Vaults 580,517.72
Due from Banks and Cash 573,336.05
4,091,714.03
LIABILITIES
Capital ( Auth. 1,000,000) ?906,000.00
Surplus and Undivided Profits 409,929.94
Ground Rents , 405,000.00
Deposits 3,272,884.09
4,994,714.03
TRUST FUNDS 5I.037.6W.S0
CORPORATE TRUSTS $30,I,OOO.OJ
ROWLAND COMLY
ire-ldei(
WILLIAM BRADWAY
Treasurer
fliMimyiiMiwiffiw
Workmens Compensation
Insurance Rates Are Out
WE can now quote you the present rates, for this insurance,
and inform you how we can probably reduce the cost to you.
If you will telephone or write, we shall be pleased to advise
you fully on all particulars.
LONDON GUARANTEE & ACCIDENT CO., LTD.
STOKES PACKARD HAUGHTON & SMITH
Resident Managers
432-34-36 Walnut St., Philadelphia
IltU i.ombam 4180 K--tonc Main 1W
i -1
1 Iwt I) fVtiiti
t i tn-Tin IM tH ',
f
2tfSS?-. ,..w
.A5-..H mhU- Kb A
MAkWl
-J:- &
v. i a