'HWWU W '-'MtWyMi
IS'
EYEtflKG L'EDaEE-PHILADELPHIA", FEIDAY, DECEMBER 17, 1915:
!
'
Pi
IM
FINANCIAL NEWS
AMERICAN SMELTING LED STOCKS
ON UPWARD MOVE LATE IN DAY
New York Bond Sales
NEW YOEK STOCK SALES
Adams Express
Alaska Juneau
Alaska Gold II
Allis-Chalmers Mfs...
Allls-Chalmcrs life P'
Am Beet Sugar
Am nrako S A, F
'Am IlraVo S & F pf,
Laat close.
129
10
24K
31
83
69
105
105
Am Can 59
High. Low,
130 130
10M
25H
31U
83
09H
102
190
5W
OK
235$
.11
S2M
esu
102
190
59
Am Can pf 1UH UW 111
Am Car & Fdy,
Am Car & Fdy pf
Am Coal Products
Am Cotton Oil . .
Am Cotton Oil pf
Am Express
Am Urde & L pf. .
Am Ico Securities 20'4
Am Linseed 22J
78M 70K 78H
.110 110 110
151K 153K 152
. 55f 55 54H
. OS 03H 93
,127!i 127 127
60)4 51 S0H
2CM SOU
225 22)a
Close.
130
10)i
25' i
3H.
S2H
09M
102
100
59
111
7I
1111
153K
55
93W
127
51
201f
22 4
Am Unseed Df 41K 42 4XH 41H
Am Locomotive 08 G9K 07i 0SH
Am Locomotive pf 101 101 101 101
Am Sm 4. Itet 07H lOWi 97 100'i
Am Sm Jfc Ref pf HOK 111! 111 111
Am Smelters pf B.. . 8 IV, 835 S3Ji 83JS
Am Steel Foundries... 01 OUi 60'i OUi
Am Suzar llefInlns,...115U 110!f 115H 110JS
Am Sugar Kef pf.. . .117U 118H US'i 118i
Am Tel &TeI 128i 12SH 128-f 12S!
Am Tobacco 205M 200 20-1JJ 205H
Am Woolen 46H 4S 47 48
Am Woolen tr r 40M 48 47.' 48
Anaconda Copper S4H 85!' SIM 85H
Atch T16 V 105 103H 105M 105JJ
Atch T & S F pf 101M 10W 101H 10laf
Atlantic Coast Line.. .114 111 114 114
Baldwin Loco 113M 117M 111H 117
Baltimore & Ohio 02 03 02 92H
Baltimore & Ohio pf.. 77' J 77K 77H 77H
Bank of Commerce.... 178H 178M 178K 178H
Batopllas Mlnlns 3)i 3H 3!i 3H
Bethlehem Steel 482 479 405 470
Brooklyn Union Oas..l34h' 13 i 133 133
Brooklyn Rap Tran... 8SH SSU b8W S8K
Brunswick Term . 12 11H 11H lli
Burns Brothers 85K 85H 85M 85$
Butte & Superior 63W C3H 03 " 03H
ButterlclcCo 32 31 31 31
Cal. Petroleum 29)f 3lii 29 30't
Cal, Petroleum pf 59 00 50 59! J
Canadian Paclflc 178K 170H 178H 170H
Clse J. I. Co. pf S9H 83H 83!i 835
Cent. Leather Co 62H 53'f 52)1 53
Cent leather Co pf... 100 109 rtt 109
Chesapeake & Ohio,... 62 01H 61 015$
Chicago & Alton 10 10 10 10
Chile Copper 24 24 234 24
Chino Copper..... 51 52 51)1 SUi
Chicago Great West... 14U 14K 14H 14i
Chi. Gt. West, pf 38)i 3S 38j 3851
Chl. MIL & St. Paul... 02H 93 02J 92H
C. M &St. Ppf.,,.,,132 132 132 132
Chi. R. I & Pac UH 18 15 15Jf
Colorado Fuel 4 1 50H 52H 51 51)j
Computing Tab. Rec.. 47 49M 48 48
Consolidated Gas 143W M6?i 143M 145'J
C. G ,E L. 4 P. Bal,H5)f 115 115 115
Continental Can ...,,. S4M 84r 84H S4H
Continental Can pf ,,,1Q9M 10S 108 108
Cora Products Ref 18'f 19 1BH 10
Crudbla bteel 72X 74 72 73
Crucible Steel pf.,.,. 110 110 110 110
Cuban-Am Sugar .....140 154 154 15-1
Peere 4 Co pf . 00)f 96JJ 963 OOH
Delaware 4 Hudson 152 151H 151K 1515
Del , Lack. 4 West ..224H 224M 224M 224H
Den 4 Rio Or pf ., . 27 27 27 27
Diamond Match , ..105 103 103 103
Distillers' fcecurltles .,. 46 47)( 40 47
Dome Mines 28 28 27H 28
Elec Storage Bat ..... 05H 65 65 65
Hrfe 41K 41Jf 40H 41M
Eiia Ht pf 56 50'f 55M 56f
Erla 2d pf . . 50) 50 60 60
Fed Mln 4 Sm pf -50 52K 50 52tt
General Electric. ... 172 173) 172H 173
General Motors ... 513 512 475 500
General Motors pf , ,.123) 120 J1SM 120U
GoodrlcaB F Co.,,, 72 73) J 72 72
Grevne-Cananea .. , 45H 45 45 45
Great Northern pf ..124W 124U I2i 124f
Gt N cti for ore prop, 47 H 48)i 47U 48U
Gugsenhelm EipTn ... 76W 77U 76H 77U
Jlelme O W pf . U4) U2H 112H 112)j
Jnt AericUtural ... 23 23 23 23
Inspiration Copper .... 44 45 44H 44H
Int Haw, N J . HOJi 111 110H lWi
Jnt Harv.N f. pf USH J17K U7 117H
Inter Coo. Corpn . . 2l 2l't 21)j 2lh
Inter ton. Cor P ... 78 78 78 78
lot Nickel - 197H 193 196W 107
IttU M pf.ef dp. 70)i 74H 70 72i
International Paper . . 12 12X 12 Ui,
lnternat Paper pf ,.. 40 48H 4S'I 4SU
Kan. City Southern . SOU 30H 30) 30H
Karuas City So. pf . . 63H 63K C3) 63H
Kiege. &aCo. . 260 SCO 260 260
Lack. SXttl. . 60)i SIH SO 81
lko trk 4 West . 14)i 14 14 14
tke Kria 4 W pf 35 33VJ 33)j 334
LtbisHVaUey 81 81 SI Sl
JJemU 4 Mjfn 250 250 250 250
Lasts-Wiles BtoUt . 25 25H 35) 25)1
Logla. 4 Kasa, . 129M 127 127 127
Mw DPt S(otes pf 106 V 10S 105
jiujwea jaotoj . 7a 7m 74H tsh
MM-itoien Htpf Wl'f JOlJf 101 10W
W.toto4 3ilf . 57'i firtVt m 5ft
X, j-t f U. 19-y W 129 1T21.
u if, y to &upf .i3fl,-j3iM J3i hm
Lait close HIkIi Low. Close
Mo , Kan. 4 Texas . 6 0i 6!f O'f
Missouri Paclflc . . 3lj 3H 3t$ 3)5
Miami Copper . .. 33h 33i 33 33'
Montana Power 73'i 7.T 73'f 73)1
Nat Cloak 4 Suit pf 110)J 110 limf 110U
Nat Enamel 4 b . 29) 28Tg 28) 28'I
Nat. Lead . ..63), G2'i 62'.' 62i
Nevada Con Cop . 15M 1515 15 15)i
New York Air Bnke 13S4 137h V.Wi 137
N.Y.N II 4 II . . 74S 7l'i 7Vi 74
Now Yor Central .. .101i 103'J lOUi 10.Vf
Norfolk 4 Western. ...120 12IU lHDt 120'
North American . . 73 72'i 72'f "2T(
Northern Paclllc .... 115)i 115Jf 115'i 1153I
Ontario Sll M lOSf 11 10), IQH
I"acincMalI 11S$ 11H 11V3 ins
Penn R R 5SM 59 5S! 59
People's Gas, Chi Ill 114)4 113H 113H
Philadelphia Co 4Ti 43'j 13'il 43'4
Pittsburgh Coal .... 35U 30'i :' 36' i
Pittsburgh Coal pr ...111 111'' 1101$ 111
PltKburch Steel pf . 0S)$ 07f 07J. 07'f
Pressed bteel Car . . . (3lS fi4)i 03) fi3
Pub. S Corp. N. J,.. 120 120 120 120
Ray Con Copper .. .. 21M 24)$ 21 !);
Reading 80JS SI SOU 80) i
Rep Iron 4 Steel . .. 53'$ 54'$ 531 53h
Rep Iron 4 Steel pf..H0H 110 110 110
Rock Island Co . . 'i $ )i )$
Rock Island Co pf . . 1 J j y,
St Louis 4 S F .. . . 4V 4's 15s 4JJ
St. L. 4S.F 2d pf .. Wi Ml 0 OK
Sears. Ro 4 Co ..170Vs 1S1 1S(U$ 1S01$
Sloss-Shef S 4 I Co . 6J$ 62'i OJ'l 02U
So Porto It Sugir. . 145 145 145 145
Southern Pacific . . ..100 100' 100 100)1
Southern Ry 22 2311 22 23U
Southern Ry pf .. .. GDI 01)1 0O)j 00?i
Studeluker Co 108 170)1 IGotj lOS'i
Tenn. Copper 50)$ 57 561 50i
Teias Co 227 2.il)$ 220h 2294
Tex Co sub reefpd .232)3 2.12 2.11 23J
Third Avenue ... WW1 601$ O0)i 00'$
Tobacco Products pf .101 lniU 1011 1015,
Tln City Rap. Tr . 95), 93J1 01U 034
Union Bag 4 Paper. . . b'S 8 8 8
United Cigar Stores . . 0)1 ! 9!1 0)1
Jnlted Dry Goods pf . 73 71 71 71
Union Paclflc 1301$ jso'l 1351 136)1
U. S Ind Alcohol . . 120 121 120) i 1211
United Fruit 148)$ 119U 148 14b
United Rys. Inest . 22 21$ 20'J 21'j
United Rjs Inv pf .. 38)$ 3S)j 3S4 3S)s
U. S Cast I P 4 F . 21 24 24 24
40 45)i 45
112)$ 1121$ 112)$
U.S. Rubber 53)$ 53U 5-lVj 5Hi
U. S. Rubber 1st pf ..10S)$ KM)! 10-U 103)i
U. S. Steel , 85)$ 85)$ b4S 85)
U.S. Steel pf 116)$ 110)$ UOJi lit.1.
Utah Copper 77)$ 78$ 77)4 7SS
Va-Caro Cbem . . .
Va-Caro Chem pf ..
Wabash w. i . . . .
Wabash pf. A, w 1 .
Wabash pf. Ii. w 1 .
Western Union Tel .
West. E. 1)1,.
Westinghouse 1st pf
Wheel. 4 L. E 2d pf
WUijs Overland ,
Woomottn. F, W Co
47
.113
. 15 '1
. 45
. 271$
. 88)4
. 6731
. SO
. 5)1
238 238H 2JS
117)$ llb)$ lib
16
453$
2811
fe'J
68'$
SO
5)$
15W
44H
2bU
88)$
671$
SO
51$
16
15)$
2S1
SS:
C851
SO
5'$
238)$
118
Quoted ex dividend.
COTTON PRICES LOWER
ON NEW YORK EXCHANGE
Wall Street Houses Bought and Room
Traders Sold
.NEW YOHK. Dec. 17The "opening at
the Cotton exchange this morning was
quiet and steady at declines of J to 4
points. Wall street houses bought and
room traders sold. After the call an at
tempt wns made to put pressure on the
market, but this was resisted for a time.
Subsequently prices slid off from 10 to 13
points under last night.
The market on the whole was decidedly
nervous. The failure of wider differences
between Xew York and Liverpool to
bring about further covering by straddles
shorts seemed to increase the nervous
ness of the remaining longs and stop-loss
ordera were uncovered.
January .
December
lUrch
May
July
October
Spoi ...
BAR SILVER
LoytXVf. Dec. IT. The price of bar ellier
a 23 15-lSd
In -Sew York silver was quoted at BtU cents.
Ye. cloe- Open Mull. Low nose
. -lt.ttl ll'so 11 Ut 11.70 11.71
,. lliW 11.70 11 70 11.64 11 04
. 1218 lilll 12. IS llilS 12 UO
12 44 12 U 12 41 12 22 12 24
...1237 1234 12 M 12 Jl 12 13
. 12 10 12 IS 12.21 12.04 12 10
... 12-43 1103 . . IJ M
DIVIDENDS DECLARED
Tonecah Mliilu Company of Nevada, recu
Ur Quarterly 13 per cent pa able January 21
to itoclc or record Pecember 31 ,
UDlted Firemen's Insurance Company, eeml
aiuiual 4 per tent, payable Pecember 2S to
stock of record December 13.
Western Electric Comi-any SI en common
ami rt uf I per cent, on preferred, payable
pecember tl to stock of record December 23.
Kolb Uakenee Company regular ouarterir
H. on preferred, phvuVJo January 1 to ttock
of record December Is
Oeoerat Baktns Company regular ouarterly
1 per cent, on preferred, parable January 1 to
stOtk of reC9rd December IS.
i'arfornla HaJluai; und JPosrer .Company,
rujAe quarterly 1 on preferred, payable
January 4 to toek pf wesrd Pecember 1.
Many Shares Touched Highest Points of the Session.
Room Traders Disappointed Because Erie First
Preferred" Was Not Replaced on Dividend List
NCW YOKK, Dec. 17.
Not Until the last ' hnlf hour of trndlnft did the mnrket assume any
definite tone, and then It turned strong. Many stocks joined In a brisk up
ward movement, led by American Smelting, which rose nboto 100, making n
Bntn of two points. Attention was attracted by this movement to other copper
Btockst and accumulation was quickly in evldenco In Anaconda nnd Utah. This
buying Increased In vigor In the final dealings, when many stocks were estab
lished at the highest figures for the day.
Some disappointment was expressed by room traders because no dividend
was declared on firlo first preferred, and a number of them who had bought the
Block on tho belief that the preferred shares would bo replaced on tho dividend
list nt this meeting sold out their holdings. It was stated positively that tho
pool which advanced tho stock from below 30 retains nil its holdings and added
to its accumulation nt the recession which occurred this morning.
On tho advances In tho copper stocks and tho other nctlve Issues the supply
was extremely scant, and buying orders were extremely hard to execute except
on advancing bids. The market lato in the day showed no traco of appre
hension which was the feature of tho Into dealings jesterday, nnd, so far ns
could be seen, the Austrian answer to the Ancona noto hnd lost all Its
influence even as to restricting trading.
Consolidated Gas was added to this group, being In demand on a laTge
scale and advancing 2?i to 146. It has been current gossip for a long time
that tho company's largest plant In Astoria is devoted to manufacturing
products required in fulfilling munition contracts.
Tho fact was commented on that there were few commission houses that
had orders, and tho market therefore showed a tnoro pronounced preholldny
character generally. No one in tho Street really expects anything much for
the remainder of tho year, but there are quite a few who think that tho boom
days will bo resumed after January, and some even go so far as to say that
the bull markets will be in full swing for tho first three months of next enr
at least. Syndicates, which have been selling out their holdings, or at least
some of them, on tho bulges again disposed of some stocks in tho early hours
today. This has been done right along, syndicates rebuylng after it has been
figured that the prices have reached the lowest level for the moment nnd nn
upturn is 1n sight. Many houses handed out tho advice today to sell securities
on any upward movement, thus curtailing commitments In case thero is
some very unfavorable news, so that the market will be In better shnpo to
withstand it.
To account for a drop of 38 points In General Motors common it was said
that it was more because of a lack of demand than anything clse. Sucli lluctua-
j tions are not unusual on that stock, however, Marino preferred certificate mndo
a. gain of 3 points to 73?4, and strength was shown in both classes of stock on
tho Curb. New York Central was a strong feature, advancing '' to 105W, with
buyers continuing to talk about the huge current earnings of tho sstcm.
There has -cccntly been heavv realizing in General Motors by Interests which
acquired the stock at low figures. The stock recovered 25 points of the early loss.
There wero some sales of Anglo-French bonds this1 morning on seller 30,
but bankers insisted that theso sales were necessarily for short account, ns
by Monday syndicate members will have all bonds for delivery on contracts
now made. Tho point is mado that most of tho demand for these bonds In
the last two dajs has come from a class of conservative buyers who purposely
awaited tho dissolution of the syndicate before making purchnses on the ex
pectation that the price would then be more In tho buyer's favor. Trading
became heavier in Anglo-French bonds In tho afternoon session, and they
declined to a now low record of 94.
lMJl
lllli
ron
ionu
4
lo-sU
1)2
High. Dow. Cloee
S1O0 Anwr Ice 8s STVi SJH 87!i
Two jmer Cot oil 8s. ... 8?$ i6 0i
110(i Amer Illdo & L, c ...lMVt
1100 Amer Smelt See 0s..,.lliu
.lOini Amer Tel clt 4a ,,,,., HI
52000 do cvt 4't loev.
;im) Atchlton nn 4s ..... tnu
WO ilo nitJ4s , so$i
Hto do ev 4ft i.,.lovU
IfOO do S3 101U
WKiO Atlnn Co l.tno lt 4., Ill
rooo Unit ft Ohio 34s ... . l!
imin iio 4s ,, ,,.., ois
1IXW0 do CV 4U9 ., ... , PC j
1 'noo n & o i' I, n & w v 4t ?i
Sihw liiilf & O.Swn .IVis..,, P2
Vou Heth Steel rM Bs . , i01
220W Iitook Itni Tr ns intS.looU
Mil,, lirooK un iJIV 18t ps. iw
srrn roc cm 4s , tnu
WX11 Cent Lfdllicr 1st 3s 100
rmp rent i'ap jst 4s.,
120MI cent n I! N J R
10CO Chill Copper s ..
411 I t hei t! Uhlo c 4Hs
inro Chfs Ohio 4'4s
.looo rtir-s & Ohio r
loon CM at, West 4
ICO) Chl A S'wn ,114s ..
upoo Chl & Nwn sen 4s
VOflo Chl 11 A. 11 1olnt 4s
4000 Chl IUI) (ten f,s ,
inwfl s
001
110
llltt
VIMi
I).'
inv,
74
PllH
HT'
nn
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P2
1014
loon
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pom
iifl
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112
10V4
wort rhi 11 x n
?nm nhi Mil a fit t, .... r. ir,rt'
r.000 Chl M St I CV 4Vis 1014
10OJ Clov Sh Lliw 4V4s
i" .ni (v. noil B
looo Chic Itny 5 .
noon Con Oas c 6s
4roo XI A Hud rM 4s
Jnoil Dm & Wo Or 4s
1000 Dph & mo Or rfd Os
'rtlr I TIP Ren 48
IO11O Trio conv 4s ttr A
. 1 000 nrlo conv 4 s sr B
1PP0O Krln prior 4
10110 nrrcn Hay H
2000 Oen Kleo deh fls
2(KH) (It Van I'on .'s
10OO Hud & (Man In 6s
2000 lll-Chl Jt fis .
2000 in steel dfb 4Us
1000 Indlsna filed it
1000 111 Ccntnl rM 4
7000 Ins Copper cv Us
M'oo intern net 4Hs.
02000 Intorb It T ref Bs
lOto Inter Mer Mnr 4Hs
4(11000 do ct 44s
lvmn Jnpnnesn nw O S 4'4s
sooo Kan City Po s
100) KlnM Co Kiev 4s
2000 1.1c Sh rieh 4s 1P2S
Wieo I.eli V'al en 4H
1CK) I lit M T C.
4000 Manlinttnn 4s ...
10(10 Minn St I' S 8 M 4
7000 Mo Knn A T 1st 4s
IHH10 Mo Kan T 21 4s
Sooo Mo Knn & T 44 .
1i(X) Mo l'ac ct Is
woo .Mo Pae e lis
VKio Mont loer r.s
Shoo dn Ca scr C
IOin) N y c 1, s .I'is .
Junto N Y C (s
170HO N Y C A II .1'8
I1KO N Y C U Illld 4's
.toco N Y City Js Uilii,
HKK) X Y City J'ts li(l
(X10O N Y Clt 4t5s 101,-,
2(KiO f Y N II ,t II (s
MOO N Y ItttS lid I .,s
4COO .Norf & West Js
10O0O N . V c Js '10 28
.ceo Nor 1'nc prior Js
1000 Nor I'ac gen .Is
1(A10 tint i'on s
IHVKi Ore Short I. ref J
floo.1 Ore lli N con Js
1000 I'aeina Tel ,-s
7000 l'enni J. HS .
N((jO do Ken ct J'4n..
Jtooo do en I'is .
loco t I. I 31 S ."s
2000 ,4t LiiSl' gen Js
iXV do kii ct..
looo f-pirta Js . .
.10000 Heaboard V I ndj fis
VX oouth Hell ,v .
2JK1O0 South l'ac cv Js
2P000 do cv ret f 11 .'a
nooo South Pae rfd Js
2(10) south ltwy Ken Js
fiOOO South ltwy sen .-
UH)0 louth 111 St U Js
:i(XK) Texas Co (Is
noon Third Ave now Js
.-.OOO 17 S Iteilty 5s
2JOOO 1 H Steel ra
J0(K) Union IJao 1st Js
KO 1'nlun l'ac rfd 4s.
liooo 1 n Itwjs R I" 43
10) Wabash 21 5.
nooo Wab-P T 1st ct Js
lciio West Md 1st Js
2000 V, est Union JWs
KSA) West Union Ss
tillT
P"
121
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71
72
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fOHEIGN EXCHANGE
Y,
Sterling Itlirh. Iiw. Lnst. close.
Cable 4.72n .n .7S t.1i
Demand,.. 4'ti 4.71",, 4.72 1.71V.
rrnncn
Cables. ., (V.SI ft flVi S.S4 fi.4
Demand. , SWA B.V4 S.85H B8S
Marks
Cableii 7P,. 7U 7e 76H
Mfmnnd... 7BU 70H 7dVi 76
WHEAT WAS WEAK;
SELLING HEAVY
) Sates in Philadelphia
Ye, close. High
Prices Moved Irregularly
Throughout Day Morgan In
terests Have Been Absorbing
iiuj
07
no
j 11
0M4
4
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1014
10115
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Financial Briefs
Peralfor Trazler, Jr., liaa severed his
connections with the Hnrlnn and IIol
llngswortli Corporation, nnd Tre.tsurcr
Samuel K. Smith hns been mndo vice
president to succeed Mr Trazlcr Hen
derson Wier suceeds llr. Trnzler ns a
director.
Cnrstalrs & Brown and Georsc A. Hulm
& Sons bought Cambria Steel Chandler
Bros, vvcro bidders for Rapid Transit.
The Xew York banks loit $3S9,000 to the
Subtreasury jeitcrday nnd have gained
j:,19S,000 slndo Inst Trlday
The New York Cotton Exchange has
elected Edward E. Bartlett, Jt to tho
bonrd of managers to succeed Robert C.
Cairns, resigned
Tho gross earnings of 22 railroads in tho
United States for the first week of De
cember vvcro $7,211,105, Increase $S91,!(65.
A special meeting of tho stockholders of
the Mechanics' Insurance Company will
bo held Tebruary 23, 191G, for the purpose
of adopting act of 1911, of State of renn
njlvanla. In regard to Insurance com
panies, also for the purpose of voting on
a reduction of the number of directors
from 20 to 10 It Is stated that the busi
ness of the company li excellent, Octo
ber and November being among the best
months in tho company's hlstorj.
Record earnings are being mado b
American Coal Products Company as the
tesult of the big demand for benzol and
toluol by tho manufacturers of explo
sives Earnings In October last were
equal to 7 per cent, on the common Btock
In September 5 per cent, was earned
William Vincent Astor has been ap
pointed a director of tho National Tntk
dank, of New York.
Copper exports from Atlantic ports for
the week ended December 16 total 63fii
tons, since December 1, 21,809 tons.
MONEY IIAKDER IN NEW YORK
Preparations for End-of-Year Dis
bursements Cause
NEW YORK. Dec. 17. Ihe indications
of a further loss In cssh to the Interior
b the banks, together with the usual
preparations for the very heavy end-of-the-ear
interest and dividend disburse
ments, accounted for a hardening In time
money subsequent to the opening ease
As against a trading flgure of 2V4 per
cent, for CO days yesterday, the asking
figure was raised ,i per cent, to 2?i per
cent., and business was done for 90 days
at 24 per cent., against that rate asked
and 24 per cent, bid recently. Both bid
and asked rates were raised U on four
months' loans to 2?ifJ3 per cent. Long
time money that is for live and six
months was unaltered at i'S3 per cent
The only even partial reflection of the
year-end financial forecast Is found in the
market for prime mercantile paper. The
finest class of paper Is extremely scarce,
and but for that fact the minimum on It
would be above the present 3 per cent,
ruling. As has been elated throughout
the week, rates have risen U per cent,
alt around and for the first time this
year a number of institutions in this cl.ty
and at other financial centres are assum
ing to dictate the discount flgure on other
than extra choice names, So far there
has not been any report of the expected
appearance In this market of offerings of
grain paper.
ClIlCAno, Dec. 17. Wheat turned weak
today under fairly heavy selling. A re
port on the winter crop by the Govern
ment was looked upon ns bearish Prior
to the issuance of the figures the market
moved Irregularly It opened higher on
flrmV Liverpool cnblei, unsettled weather
and UtrenRtli In tho West. On the nd
vancb there was realizing and a pnrtlnl
setback occurred. Later It rallied again
becnuso of a ready absorption of offer
ings with the demand apparently of a
good class only to loio tho Improvement.
December ended at l.lG'J, against $1 18 nt
tho close cflterdny, Mny at. 1.17, ngnlnst
$1.1S?4 at tho end vestorday nnd .luly at
$1.10-"s, ngalnst $1 114 at the close jes-tcrday
The-'Moders Millers report wns bullish,
showing that tho stand of winter wheat
lacks vigor In many sections. Bod re
ports are being received, partlculnVly
from southern and central Illnols and
districts In Mlsourl
There were reports that Morgan inter
ests had been absorbing December, May
nnil .Iiilv for a week. The Bartlet-Fra-?icr
Company received a cable placing the
cxpoi table surplus of Argentina at 130,
000,00 bushels Minneapolis vvna a buer
heio today Receipts at Interior pointi
were double those of a car ago
Inqulr for flour In the Northwest for
pport was noted. About COO.000 bushels
of hard wheat vvbb reported sold In Greece
today. Exports of vvhoot and flour for
the week wero 10.2S3.9i9 bushels oiralnst
0,707,133 bushels last ear, from July 1
they amounted to 1EMG1,52$ bushels,
against 181,419.001 bushels In 1914
Corn closed lower under scattering
liquidation nnd selling by cash houses
The settlement of tho strike on tho Belt
Line relieved the tension of tho Decem
ber position Ooats also ended easier.
Leading futures ranged ns follows
Yest'd's
wheat Open Wen.
December . l.lS'a 1 1SV4
May .. 1.1DS, 1 mi
July . 1.11& 1 12'n
corn (new demer;
100 Allls Chalm
za .m Gas .,,,,.
701 Hurt & sus t e
Ml do prf ,,.
50 Ilutte ft Sup.,.
r120 Cam Steel . ....
loo col Fuel
103 lilee Sior ... ,.
110 Trie.
HO tlcn AlPhilt ,..
4 Hunt A II T pf
271 Ins Co X Am .
1VQ Lake Sup Corp,.
XVI Pn II It . . ..
r,o ra Salt MfK
JO Pa 8tl pret...i
M 1'hlla Co 1.,..
il 1o cum pref
SKI riilla Hee.. ,
1410 Phlli It T t c.
1 1 Heading , . ...
7(W ronopan Helm
R.V Tonopah Mln
UO llnlon Traction
K3-' united uas
3.1 V Steel
ID wtt tier. .. . ....
Coo Westmoreland C fli'i
273 Mm Cramp u S 81 '3
75 ork Itnj . l
. Low. Close.
!! m rtl"3
.ISO iSl 120 121
, 2(J)1 32 20'4 M
. cow r-i r.7 nsu
. 0.I" ! 0-1H
, 75 7SS 74i 73U
, , 7.vS 78 7M
I 4U4 fc 41W
, sm ,U IJ'4 3tb
, 1BW U U H
21 2-, 2". 21
, I)5 !"4 tt
SMi MH .681, fiSWj
.100 100 100 1W,
, s0li ROU Ml A ()lt
41? 4i 4'5 Jl'4
, 42't J1 J I l
. 2S Bll 2S 2SJ4
. 0 19'4 lllV, l,
4 ii-ir, j u-10 ltd j!5
0 ln-id 7 y ,7
. JJ4 U 4l(i 14V.
J"t HS4 V"1J.
d-J 1.7J4. ojji,
74 i.7"5 U,U
ET.'j SI Kti
11 II U
RISE IN BUFFALO & SUSQUEHANNA
FEATURE OF THE LOCAL MARKjf
Favorable Earnings From Coal Lands the CaW
Youngstown Tube Go. Expandinc Mav Menrp'-nwa
Republic Steel 1917 War Orders
Inin HI
. . SI
Totnl sales, le,38 slinres, rompnred vtllli
11,110 slinres jestenlns i thus far this week,
83,078 shares) same period Inst week, 18?,
149 shares.
Low,
1.1(1
Close.
imi
clo.e
1 IH
1 17V, LIS tl 18'4
1 lOifc t1 10"s 1 H'i
December
vmv . .
Julv .
Oits
Decemlier
Mnv .
Lird
lanuar
Mnv .. .
Hlbs
hinrurv .
Ma ..
Pork
lnnunr
Mn .
Did
7th.
74
7Vi
j:Mi
j 5
1)1101,
0 02
I) 17
10.22
71
71
7JH
J21J
J3
l
t70W
71.
73i
J2
41
1'
tAskcd
0 02
0U2
DDO
10 22
ISf.l
18 50
42
0 IT
in. 87
OBI
OSi
P 70 0 70
10 10 tio 10
42H
1J-,.
n 70'4
10COi
n 8.
10 22
1R40 1H 4 118 82
18 40 tlS CO tlB.70
NEW YORK CURB
Rrnrien
Ilr-Am Tobacco old
Hr-Am Tobacco new .. .
Car Lteht
Clold Cons .
Hewlee Mfg
Int Marine
Int Marine tiref
Kentuckv Con . .
I.elilKh Valley Coal Sales.
Mnrconl
Vlacmi Copper
Mldvalo
Nlplsslng
Otis Hlevntor
Otis Llenlor pref
Pprn Mar Orrt
Hlker-HeKe
hterllng Clurn
.submarlni .
Tolinceo Products
1 n Prof nen .... . , .
World Pilni
Yukon Gold .. ....
Bid Asked
IV.
l-i
in
Till?,
r,2'i
tJi
14',
, l'l
7
OS
IUU
01
321?
21
101
18
111
in
so
70
nnvj
?
4
2'1
NEW YORK COFFEE MARKET
NEW lOnK. Dec 11
tures showed verv Mttlo
Prices for coffeo fu
change In the early
deallnRH today. Tradlrir was quiet. QuotH-
tlnnu tr IIaii
December
lanunry
February
March ..
Aurll . .
May . ..
.luuo
Julv
VUEUSt
Todas's
oenliiB
. (171
... 7o
. . 70
. . 0 7038 71
..'0.70
. . (1710 70
...(171
... (tViflOW)
. -II N,
September (iiHO0 07
October 0 07
IMil.
lesterdai b
Closo
it iifflO 7t
n mna."l
1,705(0 72
( 71110 71
0 71lfJ(l 7.1
II 70S. II 7h
I! 1l8i(l R-l
11 Si.flll es
osoanoi
I. II Hi II tr,
OU7S10OT
$2,000,000 Gold Deposited
SnV YOHK, Dec. 17.-A shipment of
$2,00O,CO0 American gold coin from abroad
has been deposited at the Subtreasury
The Bank of England hai released
313,000 gold In sovereigns for America
I.KOAL ADVI.KTIS.KMKXTS
iksin T,l; couitr or covimo.v pi.kas
&SJ o. 4 lor the County of Philadelphia.
Of September Term, 1013. :o. 4120.
Notice Is hereby given that an application
will be made to the nboe Court on Monday
December 27th, A U 101.1, at 10 o'cloclc a
m , under tlio "Corporation Act of 1874" of
the Commonwealth or I'eniuj tvunla. ard the
supplement" thereto, for tha charter of an
Intended corporation to be called tha Provi
dent lloma Ileiienclal Society, the character
and object ot .which U to provide funds
irom tnunlea collected therein from Its mem
beru, wherewith to aid Its members lr sick
ness, accident, disability and misfortune to
provide R funeral benefit for them, to aid
them In Qbtalnlng remunerative employment
and to Inculcate, in them, the pririlplea of
thrift, economy, sober conduct and good
citizenship, nnd for these purposes io have
and possess and enjoy all the rights, bene
ttts and privileges of the ald uct of As
sembly and Its supplements
The proposed charter Is tow on file in the
I'rothonotary's once
M, LUTIIEIl NICHOLAS,
. Solicitor,
10 North Juniper it
UIKECTOKY Of ACCOCTA'Ta
Cerllned yubllt Accountpts
UAWKKNCi: E. iUtOWN U ca
1618 HEAL EfifATB TUUaf UU1L.DINQ.
BUnNS A SPEAK11AN
Tb Bourse,
ANNUAL 3IEET1 SO 8
ITS T,IE CENTKAL NATIONAL HANK
iW Or I'lUI.ADKI.llUA
. . .. December 13, 1015.
The Annual Election for Directors of this
Bank will ba held at the Banking House on
Tuesday, January 11, 1818 between 11 a. ni
and 1 p. in. WILLIAM I'OST.
Cashier.
II INK
n.dmli,, I! Ini,
The annual meetlna- of tha ,inr-n,nM... .'.
this Bant for the election of Directors will
be held at the Hanking- House on Tuesday.
Junuary II, 1918, between the hours of 12
ro and 1 R. m ' "
LOUIS N, SPIELBEROER.
Cashier,
Ir5" UNION NATIONAL
- Philadelphia. Pa ,
THE FIRST
LOCAL COMPENSATION MUTUAL
chartered and licensed to issue policies under the Workmen's
Compensation A?t '
Organized by representative! Pennsylvania business men.
Under experienced insurance management.
Send for representative to explain, plan of
INSURANCE AT COST
Mutual Compensation Insurance Company
O1 PENNSYLVANIA
Washington Uulldloe, 63 Chestnut Street, Philadelphia
SU--Wlout WIS Kysti)B-.Mln IH1
10l'
81
111 IJ
r.s
5'J
BONUS
Ijtst prev. sale. Hlgb
500 Am Oas . El r Mi ki
J.",0 C S scp Mny '17 101 ii
(100 Kl A Peop Tr li Sl
1C00 James r . C 4S )l'i
Rono Inter Hvvjs 4s fit)
1000 Key Tel 1st r.s ,uu
10000 I. N cons
2000 txih V Ren
1IO0O Pennt gen
HK1U I'enna cons
COM Peop Pass t c Is 83
iihsi )'a i jm at us. mi
280(1 Phlla Elec 4s. . 81
fiOOO Beading gen 4s DO.,
flOCO Stand Oas Cs . PI
200o "1 ork Itwj a ns . PI
2000 W NAAP cen 4s 81
2000 IVelabiich Co Cs 05'i
Low. Close,
COli. Qftl
Mli iol'i
81 81
V 1)14
ns r8
lis r, m ii i-
101. 101. 101,
Kilj, 101L 101H
tfVlL llHIL
1034 1U54
8-
1014
84
1114
P0
PS
82
044
S3
1044
no,
nn
in
i
nivi
loo).
lon(5
81
1014
81
4lt
0(1
01
82
OUi
Totnl snles, (01,310, compared with $00,
700 J-eslenlnj-i thus fnr (Ills week, $1J9,830
same period last week, S3I3,900,
Local Bid and Asked
Hurt & sus t ... .
do pfd . .
ItildMn
Cam Steel ... . .
I21eo storage
lien Asphnlt .. .
do pref
Kejstono Telephone .
do t C ....
d prcf
Luke Sup Corp
LehlRh Nav
LehlKh Valley
Lfh Val Tr ...
do pref . ...
Pennt
Phlli Hleo
Phlla Ca ....
do 1 per cent prof.
do 0 pnr cent pref
Phllu ltapld Transit.
do t c
Bcadlngr . .. .
Tonopah Ueltnont
Tonopah Minlnc
Union Troctlon
i; n i
17 a Steel .
York llviy
do pref . .
Wm Cramp t c ,
Today ,
Uhl Asked
2M
r,sij
tin;
J
.(4
;,4
it
1(14
Il'j
Ml
17'.
:i;i
-si,
414
1,-1
42
4k
II
331,
84
J
ill
UL'3
.ns.
i 'i
r.7
i.i1.
Teslcrday
Hid Asked
.'i
r(14
lijM
r, .il!, :n
7J4 "14 'iVi
114 14 141 j
ll, 14 14 L
liT'i bDli 07).
11 III, Il'j
784 78 71)
814 SUi 8j
(Si. 17, 1Si,
.IS 17's 38
vi "su r.su
2S'; 2SU "t
44 4l'l 41
rr.14 W .1114
41 41H4 4J4
20 111), 211
20 1lli 20
biiji M4 h
& ?. r-
45 444 441.
8 1 KS' S 11,
S'4 W MW
114 II 114
314 3114 344
Mtmgvttwmam
m
Balto, & Ohio R. R. Co.
Gen. & Rcfds. 5 Bonds
Scries A, due Dec, 199.')
I'rleo on Application
I
iw
rsMsllg
Turn of the Tide
A year ago tho New York
Stock Exchange reopened. It
had been closed for more than
four months. This mt rked the
turn of the financial ide, and
Rood securities have been in
sttonpr demand ever since.
Send for our list of Rood
bonds at attractive prices.
Ebwaro B.3mithj5LCo
BANKERS
ESTABLISHED 1802
Verniers New Yorfc and Philadelphia
Btock Exchanoes
rJltOlD ISO ClICBThDT STS , PniMDl
RO Pinb Stbbet New Yohk
The chief, nnd In fact the only feature
of nn otherwise dull locn.1 rnirket session
vvflB nnother upward spurt In Buffalo nnd
Susquehnnna shares today. Both com
mon nnd preferred made new high
records, the former Jumping nearly sit
points. The rise was due, t was said,
to growlnR appreciation of tlio expanding
earnings duo to the lucrative prices being
reclvcd for tho companj's coal.
A significant Item of news which
cropped out this mornltifr was the an
nouncement that the Younfrstown Sheet
nnd Tuhe Company was planning to build
n new 600-ton blast furnace, nt n cost ot
$1,000,000, This will Increase tho com
panj's pip Iron capacity to 3000 tons dally
nnd Is.thoURht to be In connection with tho
proposed expansion Into tho biff Inde
pendent steel company merger. It wns
pointed out by well-informed interests
today that If tho Cambria deal goes
tlit-oiiBh it would bo much more consistent
to include tlio Itcpubllc Iron nnd Steel
Company In tho combination thnn the
Lackawanna Steel Company, as the
former Is nlso located In Youngstown
Others, however, take tho vlovv that tho
vat tons component companies should bo
vtiuciy tiisirmtited throughout tho coun
try, so that orders may be apportioned
according to the districts from which
thoj originate, thereby reducing transpor
tation costs. It is said that while no offer
has yet been made to the Itcpubllc Com
pany by tho syndicate back of tho Now
lorlc proposition, a bid will bo made.
On change Cambria shares were quiet
nnd steady, ty fact the vvholo market
boro a holiday aspect and brokers wero
Inclined to look for comparatlovly little
activity until the new year They sav
that tho closing sessions ot tho presint
j ear nro likely to bo taken up with the
evening of commitments, but they note a
rovivnl of small Investment biding of tlio
high grado stocks, especially the preferred
Issues nnd also In bonds
Reports of heavy new war orders from
Advnnce-Uumely Co. Incorporated
CHICAGO, Dec. 17. Advance-Ilumclv
Company lllcd nrtlclcs of incorporation
nt La Porte, Ind., showing capital slock
of J25.00O.O00, divided ns follows. 123,000
shares pieforred nnd 137,000 shares com
mon stock.
The Adv.incc-Ilumcly Company will
take over tho nsscts of the old M. Itumely
Company on January 1.
abroad have been lmvii ... ". &
n- -i -,-.... ,. : ...a kiiroiis-i, iv"
.iimuum uimrici ling week First i? ''
IlaUlwIn nnd Pennsylvania Sic '.&H
Brill was rumored to havo recelvM .
ndditlonal bookings, nnd also SuS
It Is Enld that contracts for '
foreign governmenta ara alreadv- l
Placed for delivery in 1917, " otaktS
Italy, and a Joint nu.rtan.lKjS
wny to this country for ih..i.? N
- auie jnj.
pose.
The Investment Market
now and AttertheWar
Few, if any, other qucjfions
ate of such supreme import,
ance to private investors and
officers of financial institu
tions as the probable course
of the Investment market
after the war.
A summary of the arguments
advanced on each side, In.
eluding records and charts of '
the financial markets follow,
ing the panics of twenty and
forty years ago, arc given in
a paper which we believe
should be read by every one
controlling investment funds..
We" will send copy on request
for
Circular No. 298
William P. Bonbrighl & Co., Inc.
MORRIS WISTAR STROOD, Jr,"
Manager
437 CIlnsT.VUX STlll.r.T
Phllnih Iplilu
New York lto.lon Detroit
London I William P. Honlirlcht t, Ct
Paris I llonbrlght & Co.
Tax Free in i"cnnsytionta
Penna. R. R. Gen. 4Ms
nui: ,M m: i, isoi
Partlculnrs on application. '
A. B. LEACH & CO.
115 Soutli Fourth Street
Pennsylvania R. R.
General Mortgage 4!i Bonds
Due 19G5
PIlICi: TO IKM AHOUT
4.45
Free of Penna. State Tax
11ESCHIPTIVK CIItCUI.It ON
UlAlVt.-tV
Harper & Turner
Investment Bankers
Olllcrst 1000.1012
hTOCK i:CllANOE IIIIII.niNO
I'hlladrlphla
AN IDEAL INVESTMENT
$3,500,000
Gold Bonds $1000 each
secured by first mortgage on
THE BELLEVUE-STRATFORD HOTEL
Guaranteed at 4 Interest
By The
Philadelphia Company for Guaranteeing Mortgages
Dated Dec. IS, 1915 Maturity Dec. 15, 1920
Interest payable semi-annually
Assessed for taxation, $5,000,000 Appraised value, $7,500,000
Tho Bellevue-Stratford Hotel, at tho S. W. corner of Broad
nnd Walnut Streets, Philadelphia, with a frontage on Broad
Street of 18G feet and depth on Walnut Street of 213 feet,
offers exceptional security for the loan.
National banks and trust companies as well as executors,
trustees, guardians and all others acting in a fiduciary capacity,
will find in this olTerinfj
a security embracing' absolute safety with unusual value;
a security combining all the essentials of a sound investment;
a security that appeals to the discriminating investor.
THE PHILADELPHIA COMPANY TOH afARANTrjCIXO
MORTGAGES Is the trustco undor the mortptriRC. the lefrnllty ot
which has heen passed upon by John G Johnson, Hsu. , who has
also rendered nn opinion that the bonds nro n lesral Investment
for TIIUST FUNDS In the Stato of PennsyUanla Title Insurance
to the amount ot tho mortgage lias heen furnished h The Land
Tttlo and Trust Company.
Tho unsold portion of the above hondn are offered nt par ami
Interest, fully guaranteed both ns to PRINCIPAL AND INTEREST
tho guaranteed rate of Interest being 4 V& per cent, per annum.
Circular upon- Request
b
Philadelphia Company for Guaranteeing Morlgaie
Land Title Building, Philadelphia
Get to Know
The MORRIS Jrlan of Loans and Investments.
Loans ara mqde on exactly the same business theory
that governs a business man's loans with regula'
tions modified to meet the borrower's circumstances.
Supervised by State Banking Dept. Details on request,
f PENNSYLVANIA
tows j nova, pre,. LOAN COMPANY
It, liEO HUNT, V. I'res. and Trtas. 10J I .mCn JU
"S
1-
ss;
lMW
I.KIIlOll AI.MSV nAU.ItO.lll COMPANY
Philadelphia, December IS, 1013.
The Board at Directors of trie Lehigh
Valley Railroad Company have this day de
dared a quarterly dUldend of tlio and one.
halt per cent, tor $1.1:5 per .hare) on lt
preferred etock to stockholders of record
December -4, 1015; and a quarterly dMilend
of two and one-half per cent, (or fl.23 per
bhure) on Ita rommon stork to stockholders
ot record December Si, 1U15, both payable
January S, 1DIS. v
Checks will be mailed.
f J KULP, Treasurer,
The Advantage of Protection in an Old Line Stock
Company Under the Compensation Law
Our olcMine stock company gives you full protection under
(1) Workmen's Compensation Law
(2) Common Law '
(3) Injuries to the Public
Thus taking care of all possible legal liability for personal injury.
Your rate of insurance is fixed.
You cannot be assessed.
Our Inspection Engineers assure you low rates.
in
Forty-seven years of experience and more than $5,000,000 of trusteed American assets, gua .
navment of vour claims which mav rdn over a Deriod of vears.
The London Guarantee and Accident Co., Ltd., is licensed to do business in 31 States
HJ
Luiaburd -OttO
For full information, ak your broker or write or telephone to
Stokes Packard Haughton & Smith
RESIDENT MANAGERS
London Guarantee & Accident Co,, Ltd. j
MttKHtt
432-34-36 WALNUT STREET, PHILADELPHIA.