(WWWWWIIN J&VENING LflPGEftPHILAPELPHIA TUESDAY, DECEMBER 21, 1018: 20 i FINANCIAL NEWS " STREET WAS PILLED WITH RUMORS; AMERICAN SMELTING AT NEW TOP Speculators. Cared Only for Matters That Might Be Construed as Bearish Railroad Earnings Expected to Continue in Large Volume i NEW YORK, Dec. 21. Willi street today wns flltcd with stories about sonio unfavornblo hews beinff In tho ntr, nnd vnguo rumors of a disturbing factor were effective In tauslng u restriction of trading while moderate selling was In progress, and prices generally moved downward, nnd the greatest losses were In tho specialties. No one seemed to have a direct Idea of what the unfavorable news was. As a matter of fact, market conditions were such that speculators only enred for matters that might be construed as bearish. The market took on a decidedly better tone In tho late trading and stocks firmed up all around. The only Issue which furnished any great degree of satis faction to the bull Interests In the course of tho day's trading wbb American Smelting, which rose to a now high level since 1909. Tho news from Mexico Indicating pacification at last In prospect with the withdrawal of Villa from active opposition of tho Carranza administration made the outlook for thn SK- complete operation of all tho American Smelting properties better than It has been for four years. Tho stock of that company had been In good demand for some time past and much of tho floating supply had gone out of the Street, becoming lodged to a great extent In tho hnnds of close affiliations of tho Guggenheim Interests. There was at first, however, In tho trading today a little wavering nfter Initial gains, but later tho demand broadened and a further advance over one point was recorded. Other copper stocks acted in a disappointing manner, al though sales of copper metal wore reported at 20V4, and the. sttlntlon of the trade was the strongest of which there Is any record. Somo of these specialties showed a lack of support, such stocks as Studebaker or Baldwin declining two points or more and dealings of those issues and the railroad list were generally of a holiday character and naturally looked for In Christmas week. Baltlmoro and Ohio was favorably affected by tho good earnings state ment for November. If this statement may be accepted as a criterion, results by other companies for that period will bo highly favorable. According to officials of various roads operating In different sections of tho United States, tho aggregate of Novembor earnings will bo larger thnn for any similar month In their history. It is known that somo companies In November recorded irross nnd net earnings larger than In any month Blnco their organization. Aside from tho largo volume of freight moving to tho tidewater for shipment to Europe, It Is stntcd In well-informed rnllroad circles that thero has been pronounced Improvement In general business conditions In this country, and railroad earnings are expected to continue In largo volumo dur ing the entire year of 1916 at least. Therefore, the outlook for tho carriers would appear to bo moro favorable than at any time In many years. Legis lative enactments are fewer than In tho past, nnd considcrablo confidence Is entertained j( tho attitude that will bo taken this yenr by the Wilson Admin istration toward tlho railroads as a whole. Tho recommendation by President Wilson for tho appolntmont of a special commission to look Into tho affairs of tho carriers and ascertain their needs is looked upon with favor by flnnncial Interests and railroad managements alike. . During tho period of depression of tho last year tho railronds developed many economies which had not been bellovcd possible of accomplishment. Tho lesson learned, according to somo railroad men, will bo strictly adhered to In the future, Irrespective of the pronounced betterment in revenues. Somo aro Inclined to believe that the assertions by Louis W. Brnndols a few years ngo, that railroad expenses could bo reduced without Impairment to prop erties wero true to a very considerable extent. It required a period of actual necessity, however, to bring about such results. Want to Pay for Munitions With Notes Pittsburgh manufacturers havo received an Inquiry for 10.000,000 314-Inch shells for the Russian Government. Considcrablo difficulty is being experienced In placing the order, however, because buyers want to pay one-third In notes. Under present conditions American manufacturers aro not willing to sell war munitions on credit. Important among new inquiries for direct shipment into tho war zone, during past few days, was one for 66,000 tons of rolled products and 5,000,000 shells of finished steel for Italy, and 50.000 tons of sheet bars for Great Britain. New York Stock Sales EASIER TONE IN CURB MARKET Chevrolet Motor Fell Six Points Marine Preferred and Midvale Also Lower SCff rOHK. Dec. II. TJi market for out Ide securities developed ah coaler tons In tho arte.-ntxm. especially In some of the motor tocka. Chevrolet broke from 134 to 112. Knthodlon Drome, which sold earlier in tho day at 3714. eased oft to 30. Marine preferred old from 73 to 71U: Jtldvale- Steel from 73V4 to 7!W. A.fax Hubber Midvale Steel Kennecott llrnden Copper Bubmarlne Boat Victoria Oil Katliodlon Bronze Nlplaslnc Chevrolet White Jlotor , . t Joseph Lead ernatlonal Mer Marina trnalonal Sler Marino pfd.. ; Petroleum United Fruit nta 1'oole EmrrK & Machinery Hid, Asked. .. Bt4 a to Tntt :: 18' .:3?,H .. 1SH ..117 128 7 "SB FOREIGN EXCHANGE NEW YOrtK. Dec. 21. The foreign ex change market today opened steady, with no particular feature except that marks were somewhat firmer. Otherwise quota tions were virtually unchanged from yesterday's close. Demand sterling was quoted at J1.72H. and cables, I4.73V4; francs, checks. S5.83V4; cables, J5.S:';, marks, 77 7-16c. for checks and 77 9-16c. for cables; lire. JS.56& for checks. J6.B6 for cables; Swiss. J5.2S for checks, 5.25!j for cables; kronen, J3.33c. for checks, 13.40e. for cables; Scandinavian, 27c. for checks, I7TP5"for cables; pesetas, 18.83c. for checks, 18.55c. for cables; guilders. 43 3-16c, (or checks, 43Kc for cablea rubles, 31?ic, for checks, 33c, for cables. 3H9-4 am 044 RATES FOR MONEY New York , iytM2 PhlUdelphla , 3(534 Boston .1 Chicago 3J58-4 LIVE STOCK QUOTATIONS CHICAGO. Dsc. 21. HOas. Becelpts. 38.000 head; market steady to strong". Mixed and butchers. (U0t(tSO: cood heavy, (UOfn.M; IVU8H uery, )ihiv(4n.do; UffBl. .vug., IW..T, ,.iir,uw l.M. Diss. I3t3.65; bulk, tt,30to.7t. 3, MS 0.53; fltTIP T) --,. KKAA !, a. ... 4, steady. Heaves. 14.40310.2): cows and heifer.. .l.2.ViR.40; Tcians. Jtt.M8.15; calves. SSSO.73. SHEEP.-Becelpts. 30.000 'head: market. iHur, nuvB anu western, 4.ou3lo. lUtUy IQ.1UQD.UV. J.uu; BANK CLEARINGS Bank clearings today compared with corre sponding; day last two years: 1815. 1311. 1913. I'hlUdlDtlla..1....1Ul.S01 SM.N.I4.01R SM.TUH.8ftl New York. .023.023,074 381.SOMSS a.139,BfiS Boston 3-1.Wl.lfU 22.OM.lM 26.391100 Baltimore . . 7.K.-J.S9I1 5.IUD.0M tt,9.M.64A St, loul.... 17,1111, ItW 13.044.633 12,376.037 To Sell Pete Marquette DETJIOIT. Dec 21. Judge Arthur J Tuttle, in the United States District Court, fixed Wednesday, April . 5, 191$, 4a the date for the sale of the Pere Mar quette Railroad to satisfy creditors. The road has been In receivers' hands since 1912. At a previous hearing- In July this year. Judge Tuttle fixed the upset price at 114,000,000. subject to the underlying bonds and interest, which. It was said, would bring the price to approximately 112,000,000. Lead Prices Unchanged NEW YORK, Dec ?1.-N change was reported In quotations for lead, all dealers holding at &10c a pound. The market bad a strong tone, but no pro tioynced activity ws shown. The Lo:- don .market was reported as being un gs'i'v.'ed from that of the day before Steel Prices Advanced PITTSBURGH. Pa.. Dec Si, Makers of whaftlnjr have advanced quotations $5 a tpn to $15 alt the list for carloads. $40 off lh? Wit for less, than carloads. KWel t'oori have been advanced $ a ton. Black sheets No. 2 gauge hare f one up l K toil to S. Ptttaburgh- New York Bond Sales !W Adams Expre 4s . . 8' .;fi.AMer Agr cv r.s 94'i 3.10OO Amer Smelt Sec ft...lnfi (10OO Amer Tel clt 4s oojj JAmcr Tel conv ,4s.... Haiti -Si! Amer Tel cvt 4H....10(SU .SSSSJ Armour Co 4Hs: M 170OO Atchlicn Ken 4a Ii3i ,BOO Atchl.on UJ 4s.. .... Hilt? looo Atchison cv 4s insJ .loon Atchison cv 4s ion). . lor.lj 1.4. .A" Knox & Cln 4s.. S7H 1LVK( Halt it Ohio 34s 03 aopo Halt & Ohio 4s? inn 3JWOO Halt A Oh cv 418 tlillS 4O0O lieth Steel 1st 5 102!, rKM) lieth Htoel rfd ,-,s loi 3MXX) Hrook Itap Tr 5s ldis.Kiii'J 1000 Hrook Un Elv 1st 8s..HKiJ rHK) Cal !as & Elec Rs. . . 117 i(iO Canada South Si 101U soon Cent (3a cons fa 101U 1000 Cent H & Hk Ga Bs.. flu MOD Cent Leather 1st Bs. .l(K)i 2itHX) Cent 1-nc 1st 4s IK) flniW ('hill fnnn.. T I'l'M' 1TOOO nh,u hhln .... l'li.a" Vlll? JOun Chi & Alton as. . . . . W0 Chl & I-st HI 8s :mO(l Chl A Nwn D 4s 1W1. loon Chl & .Nwn un 4s... Muo Chl U & Q 111 4s -'mm i; ji & st 1" cv .Is.... 107 I'lKiO C SI fc Ht I cv 4Vss..lflir; 4imo c 6t I' M & O deb Bs. 102V, limo col & South 4V.s wi4 iki Cons Gas cv c.a t22'I looo Cuban-Am Sucr ila ...mm Booo Uen & Hlo Or 4s so iiono Den & Itlo Or rM Bs. 5H 1000 Iu Tont 1'owd 49S...lmt; 4IKKI nrle sen 4s 74l auusi r.rie conv 4S Mer u. 2000 Erie i.rlor 4s inoo Uen Elec deh 5s... 2000 Hud & Man rM Ss . 2000 111 Steel deb 1ta .. looil loiva Central Ss Mm intern Met -is Im. Close. MV. 82i l)4j; IMTi 04Ji 04S 1I4U 11414 KKi inovs 104t.J 1H. lout? li.n 0:114 sin? 10.-.JJ 10.'.i K7S II2K nm mm 1024 lOfS 1001, 117 104W ion! OH 1001 no 1:12 R0J p. 10(11, P3 11314 sni 10,1 lo.ii; H7M II2. nm 102H 1014i UKlVi 100 07 lOlti 101U 1)11 ami J'i lOH-i IOIVj K't K.1 1(1.1 7.1 IKl'i Kl OH d Bs liWi c Nesh 4s IHU n : T 1st 4s. . 77J1 n & T 24 4s. . . m( 4s 3,1 1 N T C & Hud 4t..s... 0.1t! X V City 4s 10.1S.. ... UK 1 N Y. City 4s 10.10 US, :i0OO Kan Cltv So 1st 3s . 70 SOOO do 5s IL1U 40mi Kan City Term 1st Is S11 40OO Uicka steel 5s lu.10. . 01 1 2H) I.k Shore deb 4s 10.11. Ill 3COO 1.1c & SI T 5a 101 law) do 7s 12114 1000 Iirlllard 5s im'; 11M.SI lJUIS Ac 100011 Slo Kan lias) ila Kan lOOO do fd SOW) JIo Pao 4s 42li W UO CI 4S 4 MJin. 3IU IT1PH1C HH lUUt. t01 N Y O lis 11 li 10)O 4000 2000 X Y CUy 4Vis tlKiS 10.1I 4(K X Y State 4'is 400O N Y Tel Ben -Vs. .. 3fOO N y W C & U 4Hs. 10-jO Norf & West 4s... llaiO .S'orf it West U 4s. 2KKX1 Nor Pao prior 4s... .100(1 Nor Pac gen 3s 12000 Ore Short 1. ret 4s. 2000 Pacific Tel 3s .juju I'fnna en sits juvii 200O Pea & East 1st 4s.. . 00 4000 People's Uas .Is lojti 3000 Publlo Serv N J 5s.. SU, 1000 El 1. I il 4 So Ken Os.tuiH 2000 Bt Li & el P rfd 4s. . . 73 3000 St Paul M & SI 44s,. 1031s .ToiiO Seaboard A L. adj 5s, im 2KUO South Pac 4s I S7 32001) South Pao cv 4s SSU, luooo do cv ret I p Bs .lull, 32000 South Pac rfd 4s.. .00 4U0O South Rwy con Ba . lul 30GM Texas & Pacific 1st Bs Oh 1000 Third Ave new 4s . . . XI 1COO Tol Teo & W 4s 5M. 20OO U R Realty Bs 75 IOOO II R Rubber Ca 1QIU .Cum 1 d U...I KtM 1.11.- 1000 Union I'ac 1st .1000 do cv 4s 7000 da rfd 4s luuu va, car enem 1st as. . uv 10000 Va Rwy Bs 9 2000 Wab Equ ctiUfp 4s.loo BOOO West Electric Sa .. .1021, 1000 West Union Sa 101 , . 54t; . USK . ONTi. . fl . tar, . not; . 02 . UBU 110 1H1 ttSTi 107 101 ; 1024 t.114 122' 101S W 58 un ; 74 w Kl s.i 10.1 75 HOT, H 7Ht4 OOli IC1W Bfl 70 034 811 un. Ill 1111 121k wm 1(M)I, U1K WIS iisu OSi; 54 '5 UNt, I' 02 (11 tj 111 1S 1S till nej "7' 102M MS M 4 07 01 '4 02I 11(1 115ft J", 10I 1(C Ml-.U 122'i 101 Ml 5N 101U a R.1 0J II5U a 7(1 UT.4 W on; in 1111 12414 uti, & 10111; 1114 US', io.i; ori; us;, St Hill! : 0.11; HI KIS HUti, IS1 hit 8-HVj io.i: laiu t,T' k..I . ..'S .' 4a ..luii 1. 1U1 US Kl SS8 OS IOO14 102 C 10H !"' Kl B4 75 iaiu IMS 1)7 urn not! 0h OS 100)4 102U 10 Hi lexical! Mines to Be Reopened The American Smelting and Refining Company la making arrangement to re open ita smelter at Monterey, the first Btep la Increasing ita Mexican activities In accordance with betterment In the po litical situation in Mexico. The Mlnea Company of America has ordered resumption of the Creston-Colo-rado mine located in Sontn, Mex. Tha 1 Rayo, located in Chihuahua, will b started shortly. NEW YORK COFFEE MARKET NEW YORK. Dec. 21. There was little, trading In the cottea market during the morn lna: session. Prices ruled Arm. Sales. 1000 bags, Quutatlooa follow: Today's Yesterday's oceutne. close, ftSS5..::;:::::iv." .-.: &S$& Aonaw -:s H5S.7 March .6SS 8.7i -; 70 Aon! unguis May B.76eftSO CIZilMi August ussaSSS SerTtemixr ttfHi.a7 .wsa.S5 October ..... -.mm v- 3.07!O BW. Sales. Vm pit. fjlltclnsf. lllsh, U). Adimj Kpru mm 131 131 AlasU Jnnem 10'4 1()' 10'f AhskaOoldM 201 j 2fi 25j Alili-Chalmets Mr .... 31,'i 3lli 31 AIllJ-ChM'Mf. pf.. . . 82H 82' 82 Am Can ft!) 69 S8! Afn Can pf ...Ill lW!t UO'i nm Car & foundry ... 7"' 78 7S? Am Cat & Foundry pf.UO 1104 110H Am Cosf ProducM lftOU ISO 154 Am Cotton OH.. ,.. . . &oH 05 60 Am Cotton Oil pf. . . . Q7H i)8U OSU Am Express. .. . 127 123H 123H Am Hliio & leather ... 11 11 KUi Am Hide Al, pf 61 60H 49Ji Am ico Secntltles ,... . 20! 26jJ SdH Am Mimed 23 2:1 23 Am Icomotlvo (VSW 6S!i OSW Am lKomotlve pf ..101U 101 101 Am Smelt & Rcf 102 104 102 Am Smelt A lief pf. ... 11 1H lllls HIM Am Smelters pf 88H 68J 885 Am Smcltets pf U... . 84J 84 8-1 Am Steel Foundries ... 01 01 00? AmSuw Hefpt 118H 118W 118 AmTcl&.Tcl 12SH 128!f 128H Am Tobacco 200 201 1051 Am Woolen IS A7ii 47H AtnWoolcntr 48W 48 48 Anaconda. Coppej SOU 80!f S5H Associated Oil 01 03 03 Atch T & S F 103't 105f 1051 AtchT&S Fpf IQH 10W 101.U Baldftln Iko 110!f 117H 115U Dalttmofd A Ohio 02! i D2H 02U Halt A Ohio pf 77X 77H 77X Halopllas Mining Mi 3H 31 Brooklyn Itap Tt 88 8SK 87J Ilrow Shoo pf 95 93 93 Btunjwlclc Tetm. ... UH Uti UH Burns Bros 8IM 83i 83U Buttn A Supctiot 03H 00.'$ 05U Cal Petroleum 31Ji 3t 301 Cal Petroleum pf . . . 00 00)4 59Jf Canadian Pacific 1S0U 180)a 170! Cent leather Co 5215 53 S2H Cent Iiathor Co pf ... 109 109M 100U t hesapcaka A Ohio. ... 01!i 02! 01! Chile Copper 24 24 23 Chlno Copper 53H fi.Ti- 52'f Chlcaco Great West . . UH UH UH Chl Ot West pf 39 39 3.811 Chl III A Pac 15' 10' i 15H Chl Mil A St Paul .... I)3t, 93U 93 Colorado Fuel A J 51 51U 51 Computing Tab Rec... 4SX 48H 48H Consolidated Oai 144U 145)li 115 Corn Products lief.... 10.' J 19) 19 Cruclpla Steel 7iM 73 721 Crucible Steel pf 111H 111 UVi Ucero A Co pf mi 90 5? Dclawaro A Hudson. . .5lH 161H 150l D LAW 225 223 220 Den A Rio O pf 27! 27 20JJ Diamond Match 10-1 104U 104U Distillers Securities.... 47? 48 47) Domo Mines 28!il 28,'i 28T E1 Storago Hat Ckj OUJ OiH Erie 42)J 42'i 41H Erie 1st pf SOX 60! 50 Fed Min A Smelt pf. . 32!i 53 ( 52 OcnKlecttlc 174 175)4 174)4 Oen Motors 491,'f 51(1 490 GenMotorspf 1203 125 119 Goodrich II K Co. . . . 73 73 72tf Goodrich B F Co pf..H3!4 112 111! Greene-Canada 47.' 48Ji 48 Groat Northern pf.... 12554 125)4 125)4 Gt N cfs for ore prop. 48!J 48V4 48 Gucconhclm Expln.... 77!i 78tf 7754 Illinois Central 108 107 107 Int Acrlcultural pf. . . . 69 57)4 57)4 Int Harv X J 110)4 111 110)4 Inter Con Corpn 215i 2114 21)4 Inter Con Cor pf 77r 78'i 78 International Paper.... 1214 12) 12!f International Paper pf. 49'4 49J4 49 Inspiration Copper.... 4 1 45 44)4 IntMMpfcfdp 72 74!i 71)4 Int Nickel 107 197,'i 190 Kan City South 31)4 31)4 31)4 LackStecl 81 81 81 Ukc Erlo A West 14 13 13 Lehigh Valley 82 81 SlU Lcggolt A Myers pf . . . 120 1 18J4 1 18J4 Loose-WllcS Ills 1st pf. 9S,'f 90)4 00)4 Iuls A Nash 127 120 129 Maxncll Motors 75!4 70 74W MaxMoton 1st pf....l01). 101)4 101 Max Motors 2d pf.... 55K 50.U 553. Mexican Petroleum.... 98!f 09)4 98 MrJt Patioleum pf 95 00 90 Mo Kan A Tex 73-f 7H 7 Miami Copper 33!i 33)i 3334 Missouri Pacific 4)4 34 " 3!i Montana Pon-er 72)4 72! 72)f National Biscuit 120 127 127 Natl C A S pf UO'i 110.4 110)4 Nat Enamel AS 28 28 28 Nat I.cad 03VJ 03)4 03)f Nat Iiy of M 1st pf. . . 25)4 25 25 Nat Ry of M 2d pf . . . 8)4 8J4 8U Nevada Con Copper. . . 15U 15Jf 15)f N Y N II A II 74!4 74! 73U New York Central .... 105)4 105)4 105)4 Norfolk A Western.. ,.120! 121 120)4 Norfolk Southern 27 23 25 Northern Pacific 11GU 110 11534 Ontario SUM 10)4 10K 9'-S Pacific Mall 11H 11)4 11!4 Pcnn II R 5S! 59 5834 Peoples Gas Chl 10S34 108J4 100W Philadelphia Co 44 44? 43)5 Pittsburgh Coal 33i 30)f .'1534 Pressed Steel Cat 04)4 04H 63)4 Pullman Co 105)4 100 100 Ry Steel Spring 44)5 41 43)4 Ray Con Copper 24)4 24) 24 Reading SD4 81)4 81 Heading 2d pf r... 43)4 42H 4215 Hep Iron A Steel 5-1)4 64)4 6314 St Louis ASF 4'i 5 5 Seaboard Air Une 173 18 IS Sloss-Shef S A I Co... 03 62H 0234 Southern Pacific 101 100U 100)4 Southern Hy 23 22,'i 2234 Studebaker Co 10834 109 105)5 Studebaker Co pf 113 112 112 Tenn Copper 5734 6814 57 Teias Co 233H 2351f 232 Third Avenue 001J 00J4 59)4 Tobacco Products pf. 1014 10Q 100 Twin City Rap Tr. ... 93'4 01 91 Union Bag A Paper. . . K'l HH B) Union Bag A Pap pf . . 30 29 29 United Cigar Stares... 0',' O'i 9)4 Union Pacific 137 130J4 1301. Union Pacific pf 83 83)' 83li U S Ind Alcohol 124 124 12215 United Fruit 149)4 150 148)4 UBOIP1F -24 23U 23V United Ilys Inr 21H 213 21)4 U 8 Hubber 54f 54'i 54 U S Rubber 1st pf... 108)5 108)4 108)4 USSteel B5U 85 S5U US Steel pf 116). 110J4 110U Utah Copper 78)4 7S3i 78 Va-Caro Chem 40)4 47 47 Wabash w I. I6J1 15)f 1534 Wabash pf A w 1 45)j 4(i 45)4 Wabash pf B W 1 29)4 29'f 29 West E A M 68)4 0!) 68U Westlnghousa 1st pf-. . SO 8(1 80 Western Maryland 32 :il! 31U Western Union Tel. ... 873 87 87 Willys Overland 243 242)4 238)4 Willys Overland pf ..11434 1124 ll'.'.'i Wooiworth P W Co.. 118)1 HBVj 118)5 Quoted ex dividend. Close. 131 A KH 20 31 825 59 1104 77!4 110)5 ISt' 5 55 08! i 125'4 1054 49!S 20)4 23 0834 101 10l!4 111)4 88!4 84 0034 118 12834 200)4 4734 48 80 03 105! 4 10134 11534 02!4 77)4 3)4 8734 05 11)4 83'f 05)5 31 60.'f 170J4 53 109)4 0134 2334 53 1434 3S!4 15!4 93 61 48)4 145 19 73 111)4 00 151!4 220 2034 104)4 47)4 28)4 04)4 41?4 65 53 174)4 610 121 72'i 112 48! 125)5 4S 78 107 57! i 110)5 21!4 7S'f 12!4 49!i 44)4 74)4 190)4 31)4 81 13 81? 11834 06)4 129 75)4 101)4 50! ( 98) 4 00 7H 33)4 334 72)4 127 110)4 28 0334 23 81 15)4 73)4 10534 120)4 25 UO 10 11)4 59 108! 41! 35)4 03.' 100 43)4 24 813 142)5 5Ui o 18 024 100'5 223 i 16735 112 681 232)4 3934 100 04 8) 29 Ui 1301 83' 12314 149! 23! 21! 64 108)4 85)i 110! 78! 4 47 15!. 45)4 29 OS.' 80 .ID 87 2393$ U2J,' U834 Selecting Reserve Board Directors WASHINGTON, Dec. 21 The task ot selecting directors to represent the' Gov ernment on the directorate of the 13 Fed eral Reserve banks Is before, the Federal Reserve Board today, The banks have chosen' the directors to represent the bank ing and business Interests pn these di rectorates, and now (he board must place In each bank a director to guard the pub lic; Interest In the conduct' of the semi public banking business. It is not ex pected that the board will complete its selection today. Advance in Wire Prices NEW TORK, Dec. JL-The American Steel and Wire, a subsidiary of the United States Steel Corporation, has sent out no tices of an advance, of 12 a ton In (ha price of wlra products. Price of wire nails is now J2.10 a keg; plain wire, JIB5 per 100 pounds; painted barb wire, J3.25, with 10 cents extra for galvanizing, mak ing galvanized barb wire 12-95 and galvan ized plain wire J2.63 per 100 pounds. Suspends New Hate Schedules NEW YORK, Dec. 21.-Tb Public Serv ice. Commission this afternoon adopted an order for the-suspension for 0 days of the Dew. rate schedules announced by tho New York Central Railroad Increasing the fares to JH cents per mile, which was to go mto effect January 1. ThJs action Is taken concurrently with action by the commission for the second dis trict, The, two commissions are go!nj to investigate the reasons for the lncrisv new High marks for year in wheat Supplies Abroad Becoming Scarce Dardanelles Aban donment Chief Factor CHICAGO, Dee. Si. Fresh high records for the season were made In the wheat market this morning ns a result of the abandonment of the Urlllsh campaign In tho Dardanelles. December started at $1.22, against $1.21 at the close yester day, May at $1.23 to $1.23, against 1.22tf at tho end yesterday, nnd July at Jl.ll- to U.Wi, compared with 1.13i, yester day's last price, Export sales of the last 24 hours wero estimated nl approximately 2,000,000 bushels. The cnbles were bullish. There Is a growing scarcity of supplies abroad, nnd exporting countries other than tho United States aro shipping llttl. Shorts at Liverpool covered freely, Senti ment here was bullish. Prices continued to climb throughout tho dny, the market closing at tho top with a gain of 3 cents. The trade at large apparently was .con vinced that the withdrawal of tho Brit ish troops from Qalllpoll Peninsula nnd tho scarcity of ocean tonnage will force Europe to buy its supplies here. Tho re ceipts nt Minneapolis and Duluth today were 1082 cars, against 109 cars a year ago; at Winnipeg 12$-"i cars, against 210 cars; at Chicago 082 cars, ngnlnst 328 cars. French offlclnla will shortly buy wheat abroad. Supplies In Holland are inade quate and that country also must pur chase foreign wheat. The visible BUpply In the United States, according to Urndstreet's, Is 69.023,000 bushels, nn Incrcaso ot 11,206,000 bushels for the week, and compares with 89,666, 000 bushels Inst yenr; In CannOa It Is 91. 202,000 bushels, nn Incrense of 23,831,000 bushels for the week, and compares with 38,192,000 bushels last year; In Europe it Is 79,300,000 bushels, an Incrcaso of 2,600, 000 bushels for tho week, nnd compares with 81,000,000 bushels last year. Corn was ensler on moro pressure of offerings from the country. Tho receipts hero today wero 432 cars. The market at Liverpool wns strong. Oats wero steadier, but there was a good denl of talk of pressure from Cnnnda. The receipts hero today wero 289 enrs. Loading: futures ranged as follows: , Wheat Open. man. row. December .. !.! 1.2 J .21 '4 juiv ;:'.;.:. t.u: 1.10 1.1:1s i.ist; torn, (new aeiiverj-j n:i Cloe. cloe. i.2n -i.ji 1.2,-1. II.S i .i;i December May . . . July Oats December .May I.irJ January May. .... It lbs January Mav I'ork January Hid. Hi. y 7011 CO m w 41 K 45)4 0.(17 0.07 12S 41 44 TO. 174 74'fc 142H 4S '12! tras 4li t43(l n.n? 11.07 . O.Rr.i; 0.87 .10.22 10.23 ...IK.r..-. 1H.70 tAsked. is.ns 1K.70 0.00 IP.W 0.73 10.12 1S..12 18.30 10.00 "O.TA 0.110 tlO.OO 0.73 10.15 1R.32 18.30 10.2.1 18.72 18.77 STRENGTH IN LIVERPOOL MARKET STEADIED COTTON -Stocks Trading Wns Mostly Local Light at tho Interior NEW YORK, Dec. 21. Unexpected strength In tho market for Liverpool had a steadying effect on the cotton market horo this morning and first prices were 6 points higher to 1 point lower. Trade, however, was not active and seemed to be mostly local. It was cxplnlned that the upturn In Liv erpool wns meroly In line with the ten dency In that market to Increase Its par ity over Now York to a point which would attract cotton. Prices there continued to advance after our operating and there was moderate buying for Liverpool ac count here, which sustained prices In fnco of local profit-taking, so that at the end of tho first 15 minutes leading positions here showed net advances of 4 to 6 points. A member of n local house, who has Just returned from tho South, expressed himself ns being bullish on the situation, having found stockB comparatively light at tho Interior and farmers with a plen tiful supply of money to back up their holding policy. Trading during the middle of the day seemed to be chiefly In the way of switch ing from near to late months, prcsumbaly to adjust accounts for over the first notice day for Jnnuary contracts at the beginning ot next weelcv Otherwlso busi ness was very qulot nnd prices showed little change, with the active months rul ing a point or two over last night's closing figures. Advices from tho Southwest comment on the scnrclty of low grades, which, local Bpot people say, are bringing low prices, as they are being taken In some Instnnces for uses ordinarily sup plied by lintcrs. Liverpool was a seller of May here later In tho morning and there was consider able New Orleans selling, but offerings wero absorbed at a decline of nbout two points under Inst night's closing figures, nnd trading wan quiet around midday, with prices rullns around 12.20 for March, or about net unchanged. The afternoon market held about steady in tone, with trading composed largely of switching between the different positions. Near mouth speculative longs continued to liquidate their holdings, rebuying In tho summer or fnll months, while snot houses bought tho January and March positions and resold the later months. Fresh business was Insignificant. Export clearances for tho day made a fair show ing, but fell short of a year ago, and the total outward movement to date Is onw 69,000 bales below last year for the cor responding period. Arrivals of cotton at New York today were 4621 bales. Spot cotton was quiet, unchanged, at 112.10; sales, 6S0 bales, Exports for the day aggregated 25,739 bales, against 41,604 bales a year ago. Today's total included 13,628 bales to Great Britain, 12,025 bales to France and eS bales to other points un the Continent. Clearances for the season amount to 2,14,260 bales, compared with 2,216,305 bales for the corresponding period last season. January March . Mnv July ..... October . December Spot Vei. clone. Open, lllsli, ... 11.1(2 ll.Dtf 11.IV7 ... 11.21 12.2D 12.2.1 .. . IV.tM V.fi 1411 ... 12.82 12.37 12.61 ... 12.3T I2..I4 12.117 11.8(1 U.0O 12.10 Liverpool Cotton l.ow. Close, 11. tw 11.04 12.18 12.22 12.41 1.4lt 12.36 12.60 12.3U 12,: 11.83 11, lul .... 12. 10 LIVERPOOL. Dec. 21. The following table, Klvea the range ot tuturea today on the Liver cool cotton exchange, compared with tha Pii-.lou- i.wie. 12;30 Prev. J.3U& 7.'3.1 ' T.43 ' 7.S3ii !... .,.). I..1U.V l.l January-February . March-April May-June Juty.Ausuat OctoberO'ovember, . 7.27 7.241, T.30S 7.211 7.21 7.17W 7.2:lt4 7.TllU O.Stl 0.82 0.U7Vi 0.S1K LIVERPOOL. Dec. Jl.-Spot cotton, to day was steady. It was reported a fair business doing at advance of 5 points on the basis of 7.53 for Mid, upland. The sales aggregated 10,000 bales. Including kWO bales American. The Imports were ., umes including 33,000 bales Amerl-L-un The market for futures closed steady at a nel decline of 3 to TVS points. ANNUAL SI EET1 NO S TUB rillLAUKLl'lUA NATIONAL DANK Philadelphia. December 11. IS 10. The Annual Election for Directors will be held St tha linking- Ilouie on Tucuday. January ,11, 1918, between the hours of 12 Noon and I 1. M. HORACE FORTESCUE, Cahler. ,SS- TUB IfAItJlKltS ANDS1ECUAN1CS' U NATIONAL UANK Philadelphia, Dec. 31it. 1915. The Annual Election for Dlrectora of this Bank will be held at the Banking Home on Wedneitdar, the 12th day of January, 1918, between the hours ot 11 a. m. and Ip.ii, EDWARD STOTESBURY LEWIS. Caehler, D1KKCTOHY OF ACCPXTANTS CertUled I'ubllo Account ant a LAWRENCE E. BP.OWN & CO. 1815 REAL ESTATE TRUST BUILDING 1IUKN8 &. SPEAKUAM & Bflorie. Salds in Philadelphia " Tea. CIOM. Hlsb. Low. Close. 10 Am Car A Fdy. .. W W4 JH 100 Amer Smelting. .. 10O. l04fc,101i 0.t)ald Loco pf.. .11214 1C8H 10SlOai 4U Duff A Sua t . 86S 40 37 40 83 do pref M14 D S'U f 125OrlUJ0 .CO WH. 0 B0 1627 Cambria Steel.. 7iH T8 T4H 73 4 Elec Stoma Bat'OO 68 CO 6"J .20 Oen Asphalt ... 34H SIH 34!5 34U SO da rref ...... W 72 T2U 10 HI A B T pref. 14 14H 14U 14U 239 In Co N Am.. 25 23 21'4 23 SOI Key Tele ...... UK 1IH Wi U'i 10 Lake Sup Cor. 94 Oil OH PU- 44 Lehigh Nav . . . 77H "7i 77H 774 0 UhUh Volley.. 82 81 01' SI? 213 Leh Val pref... 83 38 38 38 1 Lit Schuylkill.. BS 64 M M 100 Mo Tacine 3'i .114, 3!t 30 N Penna P3 M M 03 2S9 renna lilt ....S84 B8 6S4 60 14 Pa Salt Mfg.. 0014 0H WW 09(4 602 Phllft Co 44 44U 44 44 a do pref 33 3014 3814 3614, 724 rhlla. Elec ,,.. 28H 29 28W 2S5i 4S0 r It T If eliii. 20 20 10 10i St Fhlla Trae .... 60 79?i 70i 7B?1 120 Ton Belmont... 414 -V4 1SS 414 80 Ton Mining ... 0T4 0?t 0U at 30 Union Trae ...45 44?i 4t 44i 101 U O Imo SO 59 88 SO 784 V fl Steel 8.V4 85i 83tt S3 3 do pref lldi 110 littK 11(W4 10 War I & S ... 1015 10 ,10, loli 3 W J & Seaore. S0H M'.4 M "0 18 Weslmoro Coal 7'4 1T4 074 7"4 123 ork itwy 0 0 0 BONDS. list prev. sale. ltlRh. Ixitv. Closo. 2000 Am O A El 6s. . 80TS R9?4 88 884 ttt Cam 8 scrip '10 07 OS 08 08 0.1 C St ecp Feb '17.10U4 101'i '1011,4 1014 03 do May 'I'... 101H 1014 10U4 101'4 2I0O El A I' Tr 4.... M S2'!i SOU 82i 1000 Equ 111 Oas 6. . 10(1 1M 100 10(1 irooo liar Elec (I9....100U 10OU 100(4 10014 3CO0 t. Vnl cons 44s.lOl4 101'4 10tt4 101T4 10iO I.eh Val een 4s. 02 P2 02 02 lOCO Leh Val O B...10.Vi 10.V4 1054 10314 100O do cons s rrg.UO llOMi H0V4 110I4 tCOCO l'n rcn 4HS....100H lOOli lOO'i 100S 7000 Phlla C cons Bs 88 88 8S S.S 2000 Thlla Elce 4a... 84 8l 8:1 83 1000 nrndlng uen 4. 1I14 041 04'i 04i 1000 L'n By Inv to. . 73i 73i 73i 73i 1400 Welabach Co . '. 04 01 04 Local Bid and Asked IlufT A Sus t c do hid Baldwin Cambria Steel Electric Storage llcnernl Asphalt do nrd Keystone Telephono . do t c do preferred Liko Hup Corp I.0I1 Nav l.eli Vnl Lett Val Tr do preferred I'enna I'hlla Eloc l'hlln Co do 6 per cent pref. . do (I per cent pret. . Thlla 11 T do t c Heading Ton Bel Tonopali Mln Union Trae II (J I U 8 Steel York llwy do pfd ffm Cramp t c Ex dlvldnd. Todav . Yesterday Bid Asked Bid Aeke.1 . 40 404 :nis :i7'i SMI Ml MW 611 U33 Ul J U-t 'U j . .V l.U 084 '' .ill. HS'.i il' "Hi . :u 11,-1 34 3f :' " ! 4 . 77S 7H4 771, 7H'J . 8lH 82 81V. 82 . IK 1814 ". IH'l . :!7i 38 37'i 38'4 . .-.Ms. i r,Hi :, . 2S 2H'l 281i 2814 . 44"j 44. 4:11 41 . a." 334 3.1 311 . 42'i 43U 42", 424 . WH 20 IWS4 20 . in. 2(1 1IIJ4 VO . 81 4 81'4 Sli; 811 Jli JO.10 4 7-11. HI, 7 ll'i 7 AXU. 43 fo 88 K l 8314 83H 83'4 IIW II 1114 34 (i 33!i 34 'i 8014 83 80(4 04 41. 8.-V1, II .TO. 8.1 DIVIDENDS DECLARED .. . ,..- n . .... 11 ha- ,..., M.i common. In nddltlon to reRUlar quarterly 1W .. n. n.t.1. mntram ''O nn ..111. nnlil nil thn VVl LCII.i 4, lira inunin v . .... ";'- ' common stock thla year, compared with 3 per cent. Inst year. .The regular quarterly of 2 per cent, on preferred was ulso declared, Both rocord tho same date. Indiana Pipe Line. $2. payable February 13 to stock of record January 23. Chlcaco City Hallways recular quarterly 2 per cent., payable December 30 to etock ot record December 27. Niagara Falls Power Company, regular ouartoiiy 2. paynnlo January 15 to stock of record December 31. Michigan State Telephone Company, reg ular quarterly of J1.30 n share on preferred. E arable December 31 : books closed Decern er 18 nnd will reopen Jar.uary 3. Mannyunk National Bank, regular semian nual It per cent, nnd the usual ejttra - per cent, payable January !l to stock ot record at c os of business today. Now England Telephone and Telegraph Com pany. regular quarterly 1 per cent . payable December .'11 to stock of record December 2,. American Telegraph and Telephone, Company, regular quarterly 2 per cent., p.iyable January IS ti stock of record December ill. Virginia Carolina Chemical Company, regular quarterly 2 per cent, on preferred. Granby Consolidated Mining S. and n reg ular quarterly SI. payable February 1 to stock of record January 14. NEW YORK BUTTER AND EGGS NEW YOnK, Dec. 21. BUTTEB. Market easier: receipts. S5i:iackn,;es, Extra, SiPi .'HIU.O. ; higher scoring. 37ft37Wc.: State dairy, 32i34c; Imitation creamery. 23824c. EClOS. Market unsettled: receipts. DIM pack ages. Extra firsts. .'liiftUuc. t nrnts, :i2Vi(1(:i4c.: nearby whites. BOif54c: mixed color. ilAu38c.; refrigerator firsts. 2121!4c; nearby browns, 38042c. RAILROAD EARNINGS LEIIIOII AND NEW ENGLAND. October gross 309,7n2 1 Net operating Income... I,v.i,.i8 CIUCAOO QBEAT WESTERN. Second week December.. W30.M2 From July 1 0.8(11,301 BALTIMORE AND OHIO. November Operating revenue ... Total operating exp. . Net operating revenue Klvo months: Operating revenue . . . Tntnl operating oxpa., Net operating revenue KANSAS CITY SOUTHERN. jSt ..n.,.h8. T": :::: liilJ-jS 26o: Decrease. . $9.2.n,at2 . A.4KI.842 . 2,70,S10 .$10,873,312 ai.mxi.uiii 15.573.473 J2.3.M, I1.17H, 1.175, J0.411, 2.04 1, 4.30U, ,413 ,(110 ,783 ,182 2(12 ,020 o.-,n ,380 ,78-1 ,027 GOVERNMENT BONDS 2a of 1030, registered 2s ot 1030, coupon Panama 2s. registered Panama 2s. 1038.. registered.. Panama new 3s, registered.. Panama new 3s, coupon 3s of 1018. registered 4a of 1023, registered 4s of lu23, coupon Did. . . liO'l .. 1M . . OS . . UK . .101IJ .mill ....101U ....KI1I1J ....110 . sked noii NOTES OF THE RAIL Walter D. Owens has been promoted to auditor of subsidiary lines of the Bal timore and Ohio Railroad to succeed the late J. L. Kirk. GROWTH OF PHILADELPHIA'S TRADtt REFLECTED IN TRACTION EARNINGS Record November Figures Show How Business Is Boorrij ing Buffalo and Susquehanna Again 1 Scored Wide Advance -) If any proof were necessary that Phila delphia and Its vicinity Is cnjoylntr a. period of splendid prosperity, it could be found In tho recent reports of the three principal traction systems operating; in and about tho city. The Rapid Transit Company is doing a record irross business, and for the flvo months ended with November the gross returns not only exceeded those of tho corresponding: period of 1914 by $332. 900, but also went nhead of 1913, when tho previous largest business was done. Only a slight gain for the balance of tho fiscal year Is now necessary In order that the full year's gross earnings shall ex ceed thoso of 1914. With a surplus above 1400,000 for tho first flvo months, It Is quite likely that the amount shown in any other year will be eclipsed. Meantime tho Lehigh Valley Transit Company has nlso been experiencing the beat 12 months In Its history, both ns re gards gross nnd net earnings. During 1915 tho net Income was equal to nbout 2'.a per cent, earned on tho common stock, nfter providing for full annual dividends of E per cent, on tho preferred. Another local concern, tho Philadelphia and Western, reports a gain for Novem ber of 21 per cent, over tho corresponding month In 1914, nnd for 11 months the sur plus was $59,023, compared with emu . " 691 a year ago. "" 0,u BLJ With such a showing by th .., ' traction companies and similar -i being reported by other ouM ...tth' such as the Philadelphia Electell'i pany, the Street cannot be 5""' mlstlc as lo tho local stock tnarv..1 I though just at present lh ?V holiday lull Is on. Today the n.aM ' Inactive with only narrow "Sell,',," ' except In Buffalo and Susquehsn ?? s once again mado to new high Ucl1 is apparently overhauling the bmSJ?.' ' Tho latter held around 69? whVttf'!?1 mon got up to 40. lB Co A three point drop occurred In n.u Locomotive preferred despite tt.." " nouncement of somo new orders . glnes. Cambria Steel was SSt' to case off. On tho other hand. tS? phla Company preferred moved ? point or more. " i , Philadelphia Electric was firm at ... possibly aided by tho testimony! nn expert before the Publlo Smlea rJ? mission that the appraisal valutuSSJ by Professor Jackson of ,the Fhllad,J?, Electric Company's protrty T:,T. within $3,000,000 of Its real value rS 1 fsssor Jackson had stated that the . ertlea of tho local corporation wer 51,000.000. In the afternoon th .X eased off on Change. e ,lMt Financial Briefs At tho annual meeting of the stock holders of the Cubnn-Amerlcnn Sugnr Company tho board of directors was re elected. The board of representatives ot the New York Curb Market Association has listed nnd admitted to quotation the cer tificates of deposit ot the United States Mortgage and Trust Company for the common stock of the International Mercantile Marine Company, of nn amount not to exceed $19:872,400 or so much thereof ns may be deposited under the terms of the deposit agreement dated November 22, 1915. Tho board also has listed nnd ndmltted to quotation the 300,000 capital shares of the International Arms and Fuse Securities Corporation, par vnluo $25. The Security Transfer and Registrar Company Is tho transfer agent nnd the Guaranty Trust Company tho registrar. Tho following have been appointed ns the Now York Stock Exchnngo Nominat ing Commltteo for 1916: Chauncey Mc Keever, Hownrd F. Whitney,' Fuller Pot ter. William B. Kcilly and George II. Thurnnuer. The MncUeth. Evans Glass Company declared a stock dividend of 15 per cent., payablo Jnnuary 10 to stock of record December 27, Up to the present time over "0 per cent, of the $10,000,000 bonds of the Kennecott Copper Corporation has been turned In to bo exchanged for stock of the com pany, all of tho Utah Copper Company stock held by the Guggenheim Explora tion Company and between 65 and 70 per cent, of tho stock of the Ilrndcn Copper Company. It It confidently ex pected that before tho date of expira tion on which deposits mny be made, vlrtunlly all of the 'various Issues of securities will havo been placed for ex change. While the Utah Copper Com pany stock nlrcndy has been turned In, tho stockholders of tho Guggenheim Ex ploration Company have until Jnnuary 15 to signify whether they desire cash or stock of the Kennecott Corporation. Tho Baldwin Locomotive Works lias re ceived orders for the following locomo tives: One 2-6-2 type, for Tavares and Gulf Railroad; ono six-wheeled switcher, for Norfolk and Portsmouth Bolt Lino; two Mikado type, for Ovan-Grayonla Lumber Company, Prescott, Ark.: ono Mikado type, for Prescott and Northwestern Rail road Company: four consolidation type, for Norfolk and Southern Railroad Kuhn, Loeb & Co. nnd the Nntlonnl City Bank, of New York, havo purchased from tho Chicago, Milwaukee nnd St. Paul Railway Company $2,836,000 of Its general mortgage V,i per cent, bonds, due 1989, Issued to refund n like nmount of Dakota nnd Great Southern llrst mortgage 5 per cent, bonds maturing January 1, 1916. Tho First National Bank of Philadel phia has been appointed reserve ngent for the First Nntlonnl Bank of Ban gor. Pa. The New York banks lost to the Sub Treasury yesterday $2,211,000, nnd since Friday $2,331,000. Tho Railroad Commission of Wisconsin has authorized the Chicago, Milwaukee and St. Paul Railway Company to Issue $18,176,650 of bonds under Indenture to the United States Mortgage nnd Trust Com pany, of Now York, to retire a like amount of Its 4 per cent. 15-year Euro pean loan of 1910 bonds heretofore held In France, surrendered by owners to the French Government and sent to this country by that Government to raise money. These bonds were In the French language, and the present issue will be payable In currency of the United States nnd printed In the English language, and will bear 1 per cent, and will mature June 1, 1923. The New York bank statement this week will be Issued on Friday afternoon at 3 o'clock, as is the usual custom when a legal bank holiday falls on Saturday. ST. PAUL TO REFUND BONDS Fifteen-year Ibsuo Sold to FrTntK Bonks to Be Canceled NEW YORK, Dec. 81.-ArrangeniMt, ' arc now being mado by the Chlciuro Mil waukco and St. Paul Railway Corni for refunding Its 15-ycnr 4 per cent il benture bonds, which were sold toarroua of French banks In 1910. The annovmZ ' ment that the Railroad Commission ef ' Wisconsin has authorized tho comctnr to Issue $(8,176,650 of bonds to retire th. ' foreign-held issue Indicates that It li hoped to corral vlrtunlly all of the fconii held In Franco nnd cancel tho Issue A largo part of the St. Paul bonds . ferred to nbove is now held by J p Morgan & Co. as collateral for a loan lr ' the bankers to tho Rothschilds In Pari. Inst Bummer. Arrangements are under. stood to be under way calling for the salt ' of tho bonds held by tho Morgan llrri 1 Kuhn, Loeb & Co., aa representatives ot tho St. Paul Railroad. It Is also COn. Bldered likely that the bankers will mate un effort to secure the remainder of thi Issue now outstanding In France. ,! MINING STOCK QUOTATIONS TONOPAIt STOCKS. Jim Duller M a cXRtnarn Midway Mtxpali Extension . Montana ........... Northern Star Tonnpah Holmont... IVinopuli Kxtenslon Tononuh Mining .. Ileacup Kula West ln B& Aikrt ''" i.w , .03 , .11 .2:! , .so , .13 '&' : i .74 OOI.DFIEr.D STOCKS. Atlanta 51 lllue Hull 03 -ooth 3f Iiulldocr crj con m Combination Frnctlon on Dlamondncld 11 il 04 Palay 04 KlorcncG 3s Colilrlfkl Consolidated 1 (lolcllleld Merser ,1.1 Jumbn Kxtonslon 1.20 Kownnaa in !ro o.l Han Ken Of. Bllvcr l'lck 05 Miscnr.i.A.vnous. nilrv Aztec 01 Klmberly in Noradn Hill , In Nevada Wonder 1.75 .Ot .U H X ' .11 K .a 3 .tt! Mi 4 ,1 1.3, .IH .11 Ml Pnris Exchange on London PARIS, Dec. 21. Exchange on LdoJon Is 27 francs. GG centimes, nn advance et 4 cents. Threo per cent, rentes were 0 francs, 75 centimes for cash today, un changed. : BAR SILVER - NEW YORK. Dec. 21, The price of com mercial bar silver was !,4 cents, today, uith Mexican dollars at 4'J cents. In London there visa an advance of 1.1U to 20 pence. Information About Investments which can be rolled upon Is oven more necessary now than (luring ordinary times, Our In- y vestors" Scrvlco Department aa the result of many years of study nnd gathering of data Is prepared to provide Informa tion regarding practically every Investment security of any prominence, This Informa tion will be given without charge to those Interested. Ai. we are very desirous that In vestors should know the valu able service this department of our organization renders, we havo prepared a booklet which explnlns In detail the chnrncter of this service ana , we will ho glad to mall It itrntls to those who apply for. Booklet No. 300. William P. Bonbrighl & Co., Inc. MORRIS WISTAR STROUD, fr. Manager 437 CIIKSTNUT 8TKEET I'liUadclphln New York Hoiton Be!"" London! William V. Uonbrlsht 4 Ca. Paris! llonbrleht & Co. Tax Free in Pennsylvania Penna. R. R. Cons. VM IJUK AU(I. 1. itw DoxIkiiIiipi nn a Itnllr'n ttfilL, A. B. LEACH & CO. 115 Sou.li Fourth Street S $1,255,000 Maeon Terminal Company ' (Macon, Georgia) First Mortgage 5 Gold Bonds Principal fond Interest Jointly and Severally Guaranteed by Endorsement by the Southern Railway Company '-" Central of Georgia Railway Company Georgia Southern & Florida Railway Company Dated July 1, 1915. Due July 1, 1965, Interest payable January 1 oner July 1 in New York. Coupon bonds of $1,000 each, which may be registered as to principal or exchanged for fully regis tered bonds; coupon and registered bonds are interchangeable. Registered bonds will be issued in multiples of $1,000. Columbia Trust Company, New York, Trustee. Outstanding, $1,600,000. Price 100 and Accrued Interest, Yielding 5 Descriptive Circular upon request Chas. C. Harrison Jr. & Co. Bankers ' Lafayette Building PHILADELPHIA Cassatt & Co. Bankers - (Commercial Trust Building PHILADELPHIA 11 -.'
Significant historical Pennsylvania newspapers