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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
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lo.ii;
H7M
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nm
102H
1014i
UKlVi
100
07
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101U
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1(1.1
7.1
IKl'i
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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
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107
101 ;
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75
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1111
121k
wm
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MS
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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
-.'