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12
EVENING LEDGERPHILADELPHIA, THURSDAY, DECEMBER 23, l)15.
FINANCIAL NEWS
WALL STREET DEVOTED TIME
TO REPRESSION OF BEAR ELEMENT
Talk That Mexican Petroleum Will Be Controlled by
One, of Standard Oil Corporations General
Motors Dropped 43 Points
i ' i
NEW YOnK, Dec 23.
Tho most Important feature of the trndlnpr In the stock mnrkct today
was tho repression of the benr element. Those room traders and uptown
operators who apparently found much plcasuro and little profit In offering;
stocks cheap to careful buyers have been out of placo In tho stock market
In tho last few days. They havo been supplanted by aggressive bear operators,
who aro supposed to bo working In harmony with strong banking Interests.
As an instnncc, Jacob Field, who Is supposed to havo been tho chief
factor In advancing Mexican Petroleum, Is said to bo acting on orders from
Important members of tho Standard Oil party, nnd It Is asserted that that
property will bo controlled by ono of tho Standard Oil corporations. It Is
recalled that somo tlmo ago tho promoters of this company endeavored to
form a voting trust and advertised that project extensively, but no ono
seemed to bo disposed to placo their shares In tho hands of tho trustees, and
tho plan was qulotly abandoned. That such a project should havo been
framed was regarded as ovldenco that tho Lowlsohn nnd Salmon Interests
had lost control of tho property, which they wore tho chief Interests In organ
izing. Mexican Petroleum wns ngaln ono of tho most netlvo features, selling
nbovo 104 to a now high record.
Tho Guggenheim stocks wero forced to tho front again, with Utah Coppor,
American Smelting, Ray Consolidated and Chlno demanding a good dcat of
tho speculative Interest. Gains In theso Issues and Anaconda, although, wero
limited to fractions. Now York Central responded to renewed accumulation,
advancing over ono point and again lifting Its high record slnco 1913, selling
at 106i today, being tho first tlmo In that period that it sold nbovo 106.
United States Steel common was taken on a largo scnlo without tho room
or Strcot generally understanding tho slzo of tho buying orders, but It was
known In somo quarters that theso orders provided for a much larger volume
of business.
For tho most part tho stock market wan strong throughout tho day. Thero
woro some reaction from tho best around midday on somo profit-taking sales,
some of tho specialties being subjected to pressure. General Motors lost
heavily, being down 43 points at tho day's low point. Advances In tho mnjorlty
of tho list were around two points.
In tho market for prlmo mercantile paper thero aro reports of redls-
counttng on a fairly liberal scale, Influenced by tho "flush" condition of most
of tho flnnnclnl Institutions. Underlying conditions arc not changed with
prlmo material discounting at SU3 per cent., exceptional transactions as
low as 3 per cent, and a minimum In the country 3 per cent. Thero Is no
improvement to report In tho market for prlmo bank acceptances. Business
Is qulot and quotations stereotyped. In tho afternoon tho pressuro of unem
ployed fundscauscd a, decline. In tho market to a trading rate of 2 per cent,
for 90 days to flvo month, as ngalnst tho previous flguro of 3 per cent. Money
for six months was unchanged at 23 per cent.
Ncto York Stock Sales
Last close. High. Low.
132
10H
25!f
32)4
85
C9
91H
m
22!f
41
09!t
2:10
p.m.
132
10
25
32H
8W
G9M
0154
132
10
mi
32
82H
caw
0154
IVIH 102M 102U
OOJi 00) 0J
nil 77ii 77H
150 16.VI 150
Ct KM 53'f
105 10H 10S
50
22
40)f
09
50
22!f
41
G9Jf
Adsmj Kinross 132
Af3Vi Jnnraa.i 10
Ahh Odd M 25Ji
Allls-CMlmers Mfe .... 32
Allls-Chal Mfg pf...... 82
Am l)t Sucar C9
Am Beet Swrrr tf 95
Am BrakoS & Fclfs. .102
Am Can ......... 60
m Car A Foundry.... 77Jf
Am Coil Products 155!i
Am Cotton Oil fri),
Am Hldo A Leather.... 10H
Am Hide & L pf &o!
Am I.lnwd 23
Am I.tnwtt pf 4i)j
Am Loeomotiro iwf
Am Loeomotivo pf loiU 101H 101)$ 101)4
Am Aiail o 0J 0 9
Am Smelt A nef mii 100f 105H 103H
Am Smelt A Uef pf... .11174 112 112 112
Am Smelters pf A 89H SOU 8954 89'f
Am Smelters pf n 84)4 85 85 85
Am Steel Foundries.... 00 02 01f (Mii
Am Tel A Tel I28!f 128)4 128 128)4
Am Tobacco 200)4 202)4 S01 202)1
Am Wool pf tr r 90 90 05)4 05M
Amerlcau Zinc 09)4 09 09)f
Anaconda Copper 89 89)f 89)j S9H
Associated. Oil f)., 04 04 O)
Atch T A S F 105)4 100!f 1054 100!
Atlantic Coast Lino. ...Ill 113 113 113
naldwln Loco 110)4 117 110)4 110'4
naltlmoro A Ohio 92)4 0.1!f 9254 93!
iiau a unio pr 77)4 77)1 77'4
uatopiias Mining 3H 3
Bethlehem Steel 47n 405
Brooklyn Union Gas... iai 13)
Burns Bros 85i 87
Butte A Superior mii (17 t
Butterlck Co 31 31
Cal Petroleum 32U 325j
Cal Petroleum pf 0)f 01
Canadian Pacific 179( 181
Cent leather Co 62)4 5354
i-cni s s A Tel Ml 14t
i nesapcake & Ohio.... Oljf
Chile Copper 21)4
Chlno Copper 51' i
Chi St I'M AO 120
Chlcaco Oroat West . . 1 1'i
tin t west pf as'i
c st r it a o pf.
i;ni .Nortriwcit ..
CM III A Pac
Cluctt Pea A Co...
Colorado Fuel A I..
Computing Tab Itec
.135
..130)5
.. 10U
.. 74
. atf
481 i
3
405
IX)
SO'f
00'4
31
31)4
0D4
179
6254
141
02
21)4
541f
110H 110)4
15 15
39 39
135)4 1.WJ 135JJ
130U l.'SO'f 130U
10U 10)4 10'4
74 74 74
515 C1W 515X
48)5 ASM 4814
03
24',
MM
120
15
39
714
3)4
405
133
87
07
31
32)4
0154
180)4
03)4
111
03
244
6554
Sales of Copper Reported at 22 Cents
Reports that spot copper had sold at 22 cents, whllo thoy ennnot bo con
firmed, exclto no surprlso in tho coppor trade. Thero is little, if any, spot
metal available, and thoso who havo It can get pretty much what thoy
want for It.
PRE-IIOLIDAY TRADING
ON COTTON EXCHANGE
Prices Held Steady After Middlo of
Day
NEW YORK, Dec. 23. Trading was of
a prc-hollday character on tho Cotton
Exchange this morning, only small lots
changing hands on tho call. Tho tone
was steady, January showing an ad
vance of ono point, April being two
points higher, whllo tho other months
wero ono to flvo points lower. Tho fea
ture was tho selling by traders who
usually represent nn important operator
ond buying of tho near months by Now
Orleans houses with offerings of the Into
options by the samo Interests. Tho de
mand was small and increased declines
of two to soven points wero recorded bc
foro tho end of tho first soven minutes.
Liverpool camo better than expected,
being fractionally higher as against
losses of one-half to ono nnd one-half
points expected. The inr -hot was quiet.
Clear conditions provallcd in tho cotton
belt. Temperatures wero lower especi
ally In tho southeast where heavy frost
was reported.
The market wns unsettled during the
middle of tho morning and ruled 8 to 9
points under last night's closing figures.
Tho steadiness of Liverpool and tho well
maintained prices In tho Southern spot
markets seemed to mako Ittle Impression
on sentiment, while tho reports of further
advices In ocean freight rates yesterday
led to Increasing pessimism concerning tho
export situation. Liverpool bought Janu
ary, but was a seller of later months, nnd
thero was scattering January liquidation,
part of which was replaced by purchuses
of the later deliveries. Except that these
readjustments of commitments business
fccemed to be confined to scattering liqui
dation which was absorbed by limited
buying orders around tho ring.
No fresh feature developed during the
middlo of the day and prices held fairly
steady at rallies of a point or two from
the lowest. A wire from New Orleans
aid that exporters wero offering the
highest basis of the season In the South.
Humors of an easier turn in the spot
attuatlon were not confirmed.
New York Bond Sales
rmno Albany & S111 314s .
SJI.-Jio Anclo-rr L. ..... .
11X10 Amer Smelt Sec &.
Kmo Ann Arbor In
HiMiii Atchison cen 4s ...
noon docv 4a uhio
IfKUM Atl Knot X, C 4s..
low Unit it o 3J4s
:iS(MI do 4.
llJUOO io cv 4(4h
IIlKh. I.ow.
mfr .NH5
.'000 Deth Klpri'
lOOil rfil n ..
Mmio Brook It T 4s
lliiu ao f.3 1MB
3000 C O C Ken 4a ....
400(1 Cent Lw.lth. lit B3
1000 Cent i'ac 1st 4s ..
1M) Cent Hit N J 0 .,
" vrnui Conner 7a.
.. IIS
..114
.. inv,
..MX,
..lo.-.ft
.. 87
.. i2j;
1st Ca le.
Ml'
3;
lOl'J
.1W
Conpe
& Ohlc
January
Aiaren
April ....
Slay ....
July .....
December
October ,.
Spot
Test, close. Open. 11 a.m. IS m.
.11. Ml
,...12.17
'"."liMo
,...ll.b3
::::i6
MS
HUT
12.28
1U.4H
12. 50
11. TO
12.0S
12.33
12. W
lilii litlai
ll.Tl
12.08
vS.sn
12.4.1
11.78
I p:m.
11.83
12.13
1287
12. SO
Cotton Receipts
NEW TOrtK. Dec. 23.-The receipts of
cotton at the ports for the day are
estimated at 30,000 bales, compared with
35,577 bales last week, 63.052 bales last year
and 31,315 bales in 1913.
Liverpool Cotton
UVEBFOOL, Dec 33. Spot cotton was
reported in moderate demand at un
changed prices on the basis of 7.63d. for
mid upland. The sales, S00O bales, in
cluding COOO bales American. The Im
ports were 6000 bales, Including 1000 bales
American. The market for futures closed
steady, with distant months 5 points
higher to 1H points lower,
The following table gives the range of
futures today, compared with the pre
vious close;
Jny.-Feb. ... T.U T.40 , T.41
March-April,, 7.38 T.38V4 7.38,
May-June ... 7.S8 7.27 7.2(H4
July-Ausut. 7 21 7.10Vi 7.10 ,
Oct-Nov. ... 6.81 0-83 6.62H
7.89
7.3SJ4
7.262
7.103
6.8
Today
openlas.
Yesterday's
close.
Lrias.so
NEW YORK COFFEE MARKET
NEW TORK. Dm. 23. Dealing's -were small
oa ihi CoRte Baclianne today. Traders were
not Interested In the market to any extent and
tba general situation showed little chance.
(juoiauoiu jguuw;
December ,,,,,,,
January ., ,,
February
March ,,...,.....
April
May
June ,...,
July .
Auarust
September
October
November
4 Bid.
S.5S
6. (SS4.6S
6.6J
m
aiMsa.88
t
e.siiss.eo
H.c.'an.in
6.(iTi6.67
.8A.CO
.72S6.74
-7G6.7a
tf.jwjaai
6.8gi.si
.sii.ii
6.65S7.00
711
..icn
..lin
:ix Ches & Ohio cv iU.. HiK
hx cues 6i Ohio 4S Ill
i'Ooo Chi & Hast HI Ss.... (.2
ikvhj Chi 11 & Q Joint 4s. . Hi';
WO Chi II & J rfon .-. . . tcitl
iffl Chi Mil & St 1' cv 5S.11I7
.t(K) Cons tins cv (la 121
3mJ Del & Hud conv fis rp.Knl
10 Del Hud rtd 4s.... (I
1000 I)en Ji Hlo Gr 4s so
lwoi) DIs Secur Corp 5s.... TJ14
200(1 rtu I'ont Powder 4i.101tJ
(HXO Hrlo conv 4s. Ker A.. 70'2
20.fiO0 KrlB conv 4s. Her H.. SO.
3() Krlo prior 4 RT
NH) (Iroen Bay B 13'i
3.vmo Ot Falls row Us TOU
10VO llud .t Man rfd Sa... 748
ano Ins Copper cv (la 1M
() Interb .Met 4Hb 7MJ
Tx Interb It T rer Ba li-nj
"" Inter Mer Mar 4Ss... 11
lOKxiO do ct 4Ws S
:t(Ki Jnp new Cltr ata 4V4s. 7.'A
(.V) J.ipanrso new 4s "SS
7(iO Kan City Ho lt 3s 111
1(K) Kan C'ltv Ter 1st 4.. si
m) lacka Steel Sa 1023.. mil
2:UTOO Ijtck.l Steel 3a 11)30. . !I2 1
llOi Lk Hh deb 4m lfiSS mil
4'WKO I.k Hh ileh 4s 11131 IH
2dOO Lie & M T fia 101
??? ??Sx,'.Co Ua s" A.. 118
HHXl Md Tac 4a 4J
,-, .,iu rdc uv CI .is. Ha.
8:40
r.M
ii4j;
I)2'4
fllti
llllti
102 $
Nl
100-14
7I
HK)
HUVi
rmoo Mont Tower 6s 11.11
2"nk N.it Tube (Ja nii;
l.'C) N V C fie...., unl lliC ma?
... M"i sul Kit:
iL'lli ii'iiT niiT
vi K
114,
1M
!I2'4
lilt
IHIV,
1021;
lOWi
lli 1MJ'
115 11(1
1.14
3
m
82
1I7'1
im'J
1(17
121
100
till
so
72U
ion!
70l
78 '4
8.1
13'i
74
lt
7(114
111)-.
up!
74 Vi
78
WIS
(Ct
1ISK
112
043,
tmu
42
4T1A
I'.HS
HKI'i
Consolidated Qai lli 1 15 114U Ml1
Corn l'mlticti ltcf 10,'f
corn rroducu Hot pf. 01
Cniciplo Steel 72f
Cuban-Am Sugar 158
Distillers Securities' I7V5
KI Storaco Bat f)$
Erlo .HH
Erie 1st pf 5,r)H
Fed Mln & Smolt pf. . o2'f
ucn ticctnc ,
Gen Motors
Gen Motors pf
Goodrich II V Co ..
Goodrich II F Co pf,
Greene-Canada
Great Northern pf
Gt .V cfs for ore prop. 4S1 i
10JS 10 11)'
02,'f 01H 02U
7.114 73 7.1!i
157 157 157
10' 47H 1DK
OUf 014 ftlJf
IIU AM 41!f
50 55.' 50
TOM 52H 53
i7i nn-mi 173'f
.100 400 450 40.5
.121 110 HSVa 118!$
. 72lj 73 72J. 72'f
.112 111 llli Ul'i
. m)i 51 503. SI
125H 125U 125K
m
121
otii
21H
78'
4Sa
45)
2(4l .N V C & II 3Us. .
4(HJ) NYC?, ir 4U .
(1000 N Y City 4s ld.V) 1181? Dili u'slS
120i) N Y C ty 4a 10(1.1... IfKl lOliJ j,
"ll .' Y l!n II i. B J, w L, JL
2(KKI N Y N U Ai It cv Mi 72t.
20 N Y N II & II 4s 103(5. N)04
11,00 N Y Itwy rot 4s 72?
RVH N Y llwy adj 5s R.HJ
I.WHI Norf & West 4s anj
10.V10 Nor I'ac prior 4s ill
2f,iX do gen .Is H.VI
1H0) radflc Tel 3s t0J
btfioo enna xen ct 4'4s Hnrtl
1V) i o C & St I..4HS 10114
.jmju jieuuinK Ken is ii-ii
aaj os . iit'4
M:
SHKiO Seaboard A I.
4(N4) Mouth I'ac 4s
:i() do cv 4s 88H
1?'JMIO rfrt rv rrt t n . IniK
jos) ao rra 4s
WOO Syracuse LtE Ss....
ismo South llwy gen 4s..
2000 Houth Itwy con 3s..
34ftoi) Tenn C ret t o 0a..
(Kl Texas Co Os
4(K 10 Third Avo new 4a..
MOO Third Ave adl 53. .
lmioo II B Steel Sa
3000 Union Vac rfd 4s .
80(i) Va Car Chm 1st 3s
8000 Wabash 1st 3s
2000 Wlscon Cent gen 4
jin'i
..100
.. 71
..10.1
..12114
..lftlt!
.. MU
.. S(W
..103(4
. . 0O
.. 1)8
..103U
.. SOU
T.
34 tj
III'.
1)2
HVi
IVIl'
iobt
a?
8S
105
8'T4
1(10
71
103
12()'i
1(11
M
im ;
not!
0(VS
Mi.
Kh
I2S
Hi'?
02H
(11 'i
Wljl
Hrt
101 14
04
r,7'J
8HU
8S(!
1055!
Ifrt
71
10.1
121H
11 11
Kl
SHI
10.1,
0014
os
so?;
DIVIDENDS DECLARED
Arllntton Mills, rerular semiannual 13.
General Oas and Klectrlc Company, regular
quarterly 1ft per rent, on preferred, payable
January a 10 hiock oi recora uecemDer 22:
also H of 1 per cent, on preferred outstanding
oeyieiuuer iw, tvi,. unu - ot i per cent.
(ireierreu uuiaiaimuiK ovwieiiiuer dl), 1UIO,
uinifanv, rrxuii
lri
payable
on
J. H
4 per cent.
common
Stet&on Comoanv.
ererreu ana 10 per cent.
record January 1,
Lehigh Coal Bale;
2V4 per cent., pay
record January u.
Be
regular semiannual
nd 13 ner cent, nn
January 13 to stock o(
erly
ot
a Company, usual quarte
ble January 13 to stock
Ta.. ..,. (!.a,tII.. frt wm. m.. , I j. .. m.,a
i..vj.j, mwvm... bvipi.a.iuu. irtumr
3uarieriy lh per ceni. on preierreu, payaoie
anuary IS as registered December 31.
Massachusetts (las Company, regular quar
terly J1.2J. payable February 1 to stock of
record January 13.
Norfolk and Western, rerular quarterly 1
per cent, on preferred, payable February 10
to stock of record January 3L.
ENGLISn DEPOSITS EXPAND
Bank Reports Substantial Gain in
Bullion, but Reserves Are Lower
LONDON. Dec. 2J.-Althoush the Bank
of England reported substantial trains
In deposits and bullion, the reserves re
ceded slightly this week and the propor
tion of liabilities fell from 23.6S per cent,
to 22.70 per cent, No change was' made
In the dUcount rate. Details follow:
This week. T.at rlr
.C33.0U7.6lO 34.2nA.OG
Circulation
,.,...
Public deposits ,,..,.. S3.134.000 S4.136.00O
VO, IOl.tAf 1M.1
FOREIGN EXCITANGE EASIER
NEW YORK, Dec, K. The market for
foreign exchange opened easier with de
mand sterling qui ted nominally at 4.78
and cables at 173. Francs were easier
at 5.8 lU for cables and S.S5 for checks.
Other quotations were: lUlcbmarks,
7S 13-15 and 7S U-18: lire, cablea, .67. checks,
(.571,; Swiss cables, 6.2W. checks, i-im.
Vienna. IJ.34 and 13.30, Stockuolm, 70
on4 P). pesetas, 14 0 and 1S.S3. guilders,
i3S-2s and US-lfi r ubles, 31Vr d 31.
ground midday alerting developed a
fwewbat priaT tone demand rising to
i"iT a4 cables to i!3(. French ex-r"-r
sa steady at the earlier uo-
. c &fc few caWes anjiJ ItoS for checj. T
Private rinDAsltn
Hovernment seeuritlea. 32.810.OuO
other urltlea , 102.4Vi.ono
Heaerve 31.413,000
iToportlon of reierve to
liabilities .'9i
Bullion Sl.Oai.OuO
Banlc rat S
soomt
32.840.000
Uu.SiB.tmj
34.404,000
C0.281.
M.33
6
U. G. I. Subsidiary Financing
It became known today that the United
Gas Improvement Company was prepar
ing to finance out of treasury cash the
payment If 15,100.000 Involved In the pur
chase of the Indiana Lighting Company
and the General Service Company by the
Northern Indiana Uas and Electric Com
pany The latter will issue its securities
to the Vnited Gas Improvement Com
pany BAR SILVER
TjONDON, Iei' 23. -The quotation lot com-
lai oar u-rer was -r oencs cooay
Gucecnhclm Ktpln
Homestako Mining....
Int Agricultural pf....
Inter Con Corpn
Inter Con Cor pf
International Tapar....
International Paper pf.
Inspiration Coppor. . . .
Int Mercantile Marine.
Int M M pr crdp
Int Nickel
Knn City South
K C Ft S&M pf
Lack Steel
Lake Krlo & West
Lake Krlo & West pf. .
Lehigh Valley
Loose-WIIej HI? 1st pf .
May Dept Stores
Maxtrell Motors
Max Motors 1st pt.
Max Motors 2d pr.
Mexican Petroleum.
Mnx Patroleum pf. .
Mo Kan A Tex pf. .
M St P & S S M..
Miami Copper
Minn i. St LouiJ 11U
Missouri I'aclllc 1
Natl Cloak & Snlt 79W
48K
7SH
125
CI)
21
78 -f
12M
19
15i
18V,
Nat Lead
Nat Lead pf ,
Nat Ky of M 2d pf . . .
Nevada Con Copper...
N Y Air llrako
N YN U& II
Now York Central....
NY Chl& St L
N Y C & St L 1st pf.
.N Y O & West.
4SJ4
78K
12.j
o9
215
78tf
12
49!f
45JI
19
71!
DO!
3U
07
SI!
15!
3S
S2!
00!
Bl!
roi
10 1H 10m loiii
50)1 CO'X 55
102'f 100 102U
07 07JS 07j
inif 15Ji
12.'l
10
l
70U
111)
8JJ
lfltj
7.1)i 70 73U
190 WDM 195
am 3U( 31
08 07 07
HIM SIH 81
l.'l 15!I 14
31 38 34'f
Sl!j 82H HUi
00), 00)1 00
0214 oui am
70 VOW 74M
...123
MM
15'i
125f
4s;i
78U
125
59
JIM
78)1
12)4
49) I
45H
1SH
73f
195
Mi
07
81H
15M
37H
82
00)(
Gl),
75)ii
101M
55
10fl)S
07li
15:
122H 123
(4)1 31)i
05M
112
83,
15!.
15U
4
79'f
KH
110
m
1m
15)1
4
793f
on
110
sn
15
13514
m7
82
117',
O'l'd
107
121
110
80
724
lOlli
7(i
78t
83
13U
not;
74 V,
1K1
7Cr
!.ll
13
8t Norfolfc 0: Western. ...120'i 122)f 120'1 122W
02
ItlV,
loot
118
42
43W
US7:
1 iU 1?
130)f 137J4 130)1 137H
74'f 75!j 74! 75.
105'f 100'i 105)1 100TJ
43'5 40). 43 40)i
81 If 8,'J 83 8.1
10)5 31 30)j 31
North American 72)a
Northern Pacific no
Ontario SUM 10!f
Pacific Mall 11)5
Pcnn It It 58f
Philadelphia Co UM
Pittsburgh Coal 35)i
Pittsburgh Coat pf....lll
Pressed Steel Car 61
Pullman Co 100
Ity Steel 6prlng.
Itay Con Coppor....
Heading
Rep Iron & Steel....
Hep Iron & Steet pf.
Hock island Co pr....
Kt Louts &S K
St Louis & S F 2d pf ,
Seaboard Air Line...
14
2Hf
si?;
r.n.
73 72M 72)i
110U 110)( 110!f
10)4 10KV10M
UM 11)4
58), 59
45 45
35)5 35JS
111)5 112
05 05
10551 1055 i
41 41
11)5
59
45
30)5
112
05
1055S
44
25)(
82
55U
Slti 81!i
51) 55
109J5 lOOJi 109f 100'f
a a a u
m 555
0)i 0)5 0)5 0)4
18) 18 IS 18
seaboara Air una pi. . 3S 39JJ 3914 39JJ
Dears iiuo . iu ie.j lain 1SI( 18411
Slois-Shef S Ss. I Co... 02 03 02 03
Southern Pacific 101 10U5 lOOU 101!
. 22IJ 23 22) nrH
. Olfi 01J 0131 OIJi
I0S)f 109 107 108)4
.113 113 113 113
. 50f 01) 00 00)5
.23Uf 233'i 230)f 230)1
. 145. 15 14)5 11)5
59)1 60)5 59)j 59)f
i I
. 04 05)5
. 9)1 11)5
.130)1 137IS
. 83)5 S3)5
.124)1 129
.149)f 148
Southern Ity.
Southern Ity pf
Studebaker Co
Studebaker Co pf
Tenn Copper
Texas Co
Texas & Pacific
Third Avenue
Toledo St L 4 W....
Twin City Rap Tr...
United Cigar Mores..
Union Pacific
Union Pacific pf
U S Ind Alcohol
United Krult
United Itjrs Inv 21!f 21H
US'Runber 64)1 54M
US Steel 80 80)1
US Steel pf U0i 11055
Utah Copper 70)5 80.' 1
Va-Cara Chem 47 4715
Wabash w 1 15)1" 15U
Wabash pf A w 1 45 45)5
Wabash pf O v 1 28JI 29)5
Wells Fargo Express.. 130 128H 120)5 120)4
immui oai ous osjf OD
Western Maryland,...; 31H 3J 32 3J
Western Union Tel . . 87 87 b7 87
Wheel 4 h E 1st pf. . . 15 10 15)f 18
Wheel ALE 2d pf... 5H 5)4 5 555
Willys Overland 242)5 240 231 JX 240
Willys Overland pf ...112J, U3H 113)5 113M
Wooiworth V W C0...U9J1 120 110)i 120
Quoted tx dividend.
7 7
05K 0535
9)5 0)f
137 137)5
82tj 8255
121! 12735
148 148
2Uf 21)f
54)5 54)5
80) 8034
110U 11635
80)5 80)5
4B! 4755
15)1 15H
45 45)5
28)f 29
Employes Can Buy Harvester Stock
CHICAGO, Dec. 23. The International
Harvester Company today offered its
employes an opportunity to buy its stock
and share Its profit. An employe may
buy stock up to 11000 worth on the partial
plan and the company will add a sum
equal to one per cent, to employes' earn
ings to the payments each year.
BATES FOR MONEY
Call.
New York, , 1J.U2
Tlnaron ...................... 3
Chicago 3HB4
commercial
adelcbU. 3HI
.Time.
ater. tbree to six months.
4 per cent.
m
BANK CLEARINGS
Bank clearing? today compared with corre
sponding day last two years:
1815. 1914. 1918.
Philadelphia. I42.96O.0T3 131.llW.62a Holiday
Boaton 20.67S.4O0 Sl.lul.6SuS Holiday
New York, 470.3 iu.eaU 225.072.98 Holiday
Traction Company Buys Land
CHICAGO, Deo. 23.-The Vnion Traction
Company has acquired more land on the
west bank ef the Cbiuujo B.ver Tha
MAY AND JULY
WHEAT HIGHER
Minneapolis Reported Falling
Off in Flour Business Sales
Abroad Limited
Sales in Philadelphia
CHICAGO, Dee. 23. Unexpected Btrenrrth
at Liverpool caused n firmer tone In May
nnd July wheat nt tho outset today, but
December wnn down He, nt 1.214, under
liquidation. Mny started nt 9)1.24 to t!.23.
riRalnnt 1.23 nt the end yesterday, nnd
July nt 1.U to H.13-4, against $1.13, yes
terday's last price. Tho market was fev
erish. Tho Illness of the Kaiser nnd uncer
tainty regarding political developments
nbroad checked buj-Inff. Export sales In
tho Inst 21 hours wero small, being esti
mated nt only 300,000 bushels.
A material falling off In flour business
ns compared with tho preceding week was
reported nt Minneapolis. Sales abroad
were limited. At Liverpool the decline In
wheat hero yesterday was offset by a
scarcity of supplies, nnd tho market wns
stronff, with nn urgent demand for spot.
It wns bclloved that llttlo wheat would be
received nt Hrltlsh points from exporting
countries, other than America, for the
week.
Additional reporta cams to hand with
regard to tho rapidity of the harvest In
Argentina, whero wenthor conditions aro
favorable. Excellent weather for gather
ing tho Australian crop also was reported.
Tlio receipts nt Minneapolis and Duluth
today wero 1153 cars, ngalnst 434 cars a
year ago; at Winnipeg 6S7 cars, ngalnst 160
cars; at Chicago 155 cars, against 173 cars.
Corn was not actlvo and prico changes
wero small. Tho receipts here today wero
181 cars. Oats were quiet and steady. The
receipts today were 107 cars.
Leading futures ranged as follows:
. . . Test'd'a
Wheat open, lilgn.
December .. 1.T21H 1.23
Mny 1.21 1.24J4
July 1.14 1.151
Corn (new dellery) .
T'ecomlier .. 70 71
4 M'i
7ii
Low.
l.-ul
1.7Z:
1.13
Koon. close.
.134
it. ioon. cio
i 1.23 1.21
H 1.24 tl.23
J 1.13 1.13'
Mnv
JulV
Dnts
1'eccmber
Jlay
Ijjril
January
May ....
Klhs
January
Jlay ....
I'ork
January
""
lild.'
:: iik
.. 42
.. 43H
..n.r.7
.. 0.87
.. fl.RO
..10.12
..1S27
.1,1.40
42U
40
n.ftn
0.87
70
74'J
42
40K
0.37
0.93
7t
7$
70
74?t
tVi
45,
0.37
0.S3
0 00
0.87
n.so
10.15
0.80
0.12
10.
n.RO 0.77
10.13 '10.10
tAskeil.
1S.33 1S.30 IH.02 ttS.17
18.30 11S.4B 18.S0 18.33
LIVE STOCK QUOTATIONS
CHICAGO. Dec 23.-11008 Ilccelptn. r.0.000.
Market 10c. lower. Mixed and butchers,
3.M3flOK0. jrooil heavy, o.1Mii.60i rounh
l'oavy. 3.83(i.l(: light. J3.03BO.SO; Pigs. I.W
0.30jliulk, .03fi(1.33. j
CATTLH-Hecelpts. 3300. . .Market steady.
Hooves. W.noiin.sA; cows and helfpre, 3!t8.40;
Texnns. D.308i calves, fs.S09U.7S. M
SHUUP Itecelpts. 6000. Market steady. Na
tlvn and Western. JJ.C0it0.0Oi Iambs, 10..10
Bt).50.
NOVEJIBEU EXPORTS RECORD
Vnluo for Month Wns $331,114,627.
October Nearest
WASHINGTON. Dec. 23. Tho record of
exports In November has never been sur
passed In tho history of American trnde.
Thoy wero $331,114,527. Tho month that
comes nearest to this was October, 1915,
when tho exports totaled 323,630,28L Tho
trndes of the cntlro year ending with No
vember, 1015, went up over tho flvo bil
lion mark. Tho total vnluo of Imports
for tho year wero $1,730,3 13,220, nnd tho ex
ports wore vnlucd at $3,437,202,533.
One year ago November exports aggre
gated $203,878,333, and In 1312, which wns
tho formor record, $278,214,101. Tho export
balance for November was $166,825,358, no
compared with $70,411,271 for November,
1914, and for tho twelvo months ended
with Novembor last, $1,707,019,304, as
ngalnst $212,512,093 ono year ngo and $73S,
472,118 two years ngo. Duty-freo Imports
comprised GS.3 per cent, of tho November
Imports, compared with 62.1 per cent, for
November, 1311.
Cold Imports during November, 1915,
nmounted to $60,981,540. as against $7,391,729
In November, 1914. Twelvo months' Im
ports of gold aggregated $110,630,976, ns
compared with $58,352,033 m tho preceding
year. Novembor exporto of gold wero
valued at $3,661,153, as ngalnst $14,5W,4I!2 In
November, 1914, whllo for twelvo months
ended with November, tho total wns $19,
607,557, ns compared with $233,037,825 In the
preceding year. Instend of a net outward
gold movemont of $174,705,790, ns In tho
twelvo months ended with November, 1914,
tho year Just ended shows a net Inward
gold movement of $330,953,419.
NEW YORK CURB
NEW YORK, Dec. 23. Tho markot for
outside securities was extremely quiet
and Irregular. Chevrolet sold down to
127, while Poolo Engineering and Ma
chinery advanced from 117 to 121.
jjdi. ASKen
Inter. Continental iiuouer.,.
renna Mar ana um
I'oole Encre & Mchy .
Houston Oil
Mtdvale meel
tit Jos Lead
Kennecoit
Ilradcn
AJax nubher
Int Mer Mar .........
Int Mer Mar pref ...
Chevrolet
Haskell & Barkor ....
14.
:::iS8"
:::
... 13(i
... 34K
::: 8
... 73
...127
... 37
14Ti
!Vs
5T
74 H
131
r.i'4
Id's
(504
ISO
38
PUBLIC UTILITIES
The financial statement Issued by the
Public Service Corporation for November
shows n gross Increase in total business
of $307,061, or 10.10 per cent. After pay
ment of operating expenses, ilxed charges,
sinking fund requirements, etc., the bal
ance available for amortization, dividends
nnd surplus was $177,201. The Incrense
over November, 1914, In surplus applicable
to dividends was $55,739. For the eleven
months ended November 30, 1915, gross
Increase In total business was $1,435,603,
or 4.42 per cent, more than the correspond
ing period last year. There was an In
crease In surplus available for dividends
of $218,241.
The Pennsylvania Public Service Com
mission refused a hearing on the appli
cation of the South Lebanon Electric
Company for Incorporation. The opinion
establishes a precedent. The company
asked the right to operate in a district
where, the evidence showed, according to
the opinion, there were already two com
panies and nothing to establish that the
service they gave was Inadequate or that
any demands had been made for service
which they had not granted. Commis
sioner Pennypacker, who wrote the opin
ion, said: "If the commission could limit
the territory as designated It would be.
In effect, to relieve the corporation from
certain of the duties imposed upon It.
The grant in a charter is accompanied
by certain burdens which have 'to bo
met."
Copper Imports and Exports
WASHINGTON, Dec. 23.The statistics
of imports and exports of copper for the
week ending' December 11 were as fol
lows: Imports, 2,611,051 pounds of ore,
matte and regulus, valued at $312,368, and
4,855,753 pounds ot pigs. Ingots, bars, plate
and old, valued at $S6S,055. Domestlo ex
ports were 15,793,210 pounds of pigs. In
gots, bars, plates and old, valued at $2,
662,163. Embargo Helps Domestic Steel Trade
PITTSBURGH, Pa., Dec. 23. The em
bargo on munitions placed In the east by
the railroads, has caused the mills In this
section to turn out 75 per cent, of the out
put for domestic orders. This makes
an easing steel situation and gives the
western railroads a very heavily In
creased freight tonnage.
Condition of U. S. Treasury
WASHINGTON, Dec. 23.-The condition
of the United States Treasury, according
to a statement Issued today, was as fol
lows. Net balance in general fund. $107,
492,343 total receipts, $11,853,737 total pay
ments, $.7S7.6S5 deficit for year $50,.
S49 127. -xoJusl' ef 'hs r nama Ctnal
5
13
to
180
307
4306
100
17
100
23
2013
200
203
40
133
23
177
100
410
000
130
10
100
30
60
1
0175
25
23
200
1000
70
1000
4000
3000
2000
6000
33
7S
4200
100
6000
62000
1000
3:10
Te. elose. IIKth. Law. P.M.
Amer Qas N J. 120 120 120 120
Am Ttwjs pfd.. 03 Pitt 0114 ni',4
Amer Smelt ...100 100 100 100
Buff A Bus t 0. -12 42W 42 42!,
do pref , B0 r.SH M WH
Cambria Steel.. 73W 73", 74W 74'4.
Cal Tetrol 32 W 32W 82!4
EIoo Stor Hat.. 63 63 61H 63
Erlo 41i 41H 4t!i 41H
Ins Co N Am.. 25 23 20 23
Lake Sup Corp 0 J0V. OH p',.
Loh Vol Tran.. 18". 18 18tt 181,
do pref 38 3S 38 3S
Norf & West .... 12W 1H 121H
Penna nit 68!J 50 oSy. B8'4
r salt Mfg ... 09 oo on no
Pa- Steel pref... 82 81 S2J4 8'
Thlla Co 44U 43 44tt 43
do cum pref.. 4211 421 42 4i
Phlla Eleo 2S 2S1 2S4 28H
rilTtr ctfs.. toy. IOTA 101 ion
lUy Cons 244 23 23 23
Ton Ilolmont.. 44 4,'is 4 4
Ton Mining ... 7 7 64 7i
BOI 8S!i 89K 88tt WW
Un Cos N J ...223 223 223 223
U S Sleel 80H 881 SOU 80K
U S nubber ... Bl'i M BIS BIS
Warwick I & 8 10H WW M4 0!i
Last prov. 2:40
Sale. IIlRh. Low. P.M.
Am Oas A rt Bs 00 80 89 89
Jleth Steel 0S...110V4 110H HOS 1104
Cm Stl acp 1010 OS OS OS OS
El & Te Tr 4s. 81 KW 80
Lh Nv 4H,1024 .. 102U 102U 12'4
Lh Vlst 4s 1018 .. 100 100 100
do reg 100 100 100
Penna iren 4U,s.ieo 100i 1004 100W
Phi Co icp 1910.100 100 100 100
do 1018 t8tt OS", 0SH 08'i
Thll Eleo 4s.... 84 84 81 84
do 6s 104 101 101 104
Span-Am 1 (l..102 102S 102 102
Un lly lno 6s.. 73i 74H 73; 74H
W X Y &P gnls 83 82 82 82
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
WHEAT. Itecclpls. 60,333 bush. Tho market
ruled firm with n good Inquiry from exporters
nnd millers. Ouotatlona. Car. lots. In export
elevator. No. 2 rod. opot nnd Decombcr, J1.J.1
8(1.23; No. 2 Southern red, $l.21(rl.sn. "teamer
o 2 red. J1.2(iU1.22: No. n red, 1,20ffll.2i
rejected A, J1.17VW1.1U'.,; rejected 11, Sl.lui;
1 18
'cdnN. Ilecclpts. 10.312 bush. . The market
wns quiet, but prices were well maintained.
Quotations: Cnr lots for local trnde, ns to
location. Old Western No. 2 yellow, W
KlViC; old Western Bteamer yellow. WWie
WW.; old Western No. 3 jellow, JSHBiDVici
new rob. per 70 lbs, LlffGOc. . .
OATS. ItecelptR. 10,218 bush. Trade wns
qulot, but oftcrlnKs wero moderate and Prices
ruled steady. Quotations: No. 2 whlto, 48ftf
40c, standard white, 4747Hc; No. :i white.
4tUM0',c., No. 4 white. 44M3a: sample oats,
42frt3c.i purlrtcd oats, eradcl. 474Sc.
FLOUR. necolrts. 1410 bbls. and 432.423
lbs. In Hacks. Thero was little trndlnir. but
mill limits were well sustained. Quotations per
1UU lbs. In wood: Winter clear. 5.16irS.40;
do.. stralKht, $3.3013.7B: do.. .Patent. S3.801J
(1.10. KaiiMi, clear, Juto sacks, S!t23ft3.BO;
do.. strnlKht, Juto Backa. I3.60ft3.73: do.,
patent, Juto sacks. 5.73JtO: . snrlnc. first
clear. 13.6093 73: do.. KtralBht, 3.7600.1)0: do.,
patent, $0fl0 33: do., favorite brands. J0.WMC
(I.S0J city mills, choice and fancy Patent,
$H.6(S0 SO: ellv mills, reuular pradesMntor,
clear. S5.13M3.40: do., stralcht. S5.60fi3.73:
do., patent. S.-..80flrt.l0. . t .
HYE KI.OL'It was quiet, but Arm .under
small suppIIck. Wo quoto nt $3,235(3.60 per
bbl., ns to quality.
PROVISIONS
Tho market ruled steady with a fair
Johblne trade. Quotations: City beef, in Bots.
smoked nnd alr-drled. 24S2Sc; Western bepf.
In sets, smoked. '.'40230.. city beer, knuckles
and tenders, smoked and alr-drled, 2U&27C.;
Western beef, knuckles nnd tenders, smoked,
S22.B01T2.1. hams. S. P. rured. loose. 1SB15V4C.;
do., skinned, ioose, lUUUlS'lc.: do., do.,
smoked Uit!lW.c: other hnms. smoked, city
cured, as to brand nnd nveraito. Kl'iWuc.:
hams, smoked. Western cured, ld'-jtf 17c: do.,
boiled boneless. 22c.. picnic shoulders. S. P.
cured, loose. 12c: do., smoked, 13c.:, bellies In
Oloklo. according to nvernKe. loose. 13K1.1VSC :
reakrast bacon, ns to brand and average, city
cured, 17fcMKc, : breakfast bacon, Western
curod, 17fll8c: lard. Western, refined. In
tierces. lOy.c: do., do.. In tubs, lone; lard,
puro city, kcttlo rendered. In tierce". lpiC.i
lard, puro city, kettle rendered. In tubs. lOc
REFINED SUGARS
Th market was quiet and unchanced. lie
flners' list prices- Extra tlno Kranulnted,
B.USc.i standas.1 Rmnulated, (c.: rowdered.
O.o.-So.: contectloncrs1 A. 8.83c: soft Kradcs,
B.lWi 3.73c.
DAIRY PRODUCTS
BUTTER. Demand was sufficient to readily
absorb the limited receipts of fancy stock at
top prices. Quotations: W.tein, .wild
packed creamery, fancy specials. 30c. : extra,
37c; extra firsts. 330330. : flrBts, .lOfflllk;.; sec
onds. 201720?.; nenrby prints, fanoy, 40c. ; do.,
nverase extras. 3739e.: do., firsts, 301733c.:
do., seconds. 20U20C.; Jobbing sales of fancy
prints, 431Mc.
EfltlS. Fine now.lald ckks wero In irood re
quest and firm under llsht orforlnns. v. e quoto
us follows: Frco eases, nearby extras, 40o,
per doz. ; firsts. SU.10 per standard case;
nearby current receipts. $10.60 per case; West
ern extra firsts. Stl. 10 per caso; firsts, $10.30
per case; refrigerator egKs, fancy, S..SO per
case; do., firsts. $7.50 per case; do., seconds,
Sd.30fi0.00 per case: do.. Inferior lots, lower;
fancy selected candled eKKS wero Jobbing at
42ir-i4e.
CIIEE8E. The market ruled firm under llpht
offerings and fair demand. Quotations fol
low: Now York, full-crenm. fancy, held, n't,
(S17UC : "specials" higher: do., fair to Rood,
held, lOUKlTc; do., part skims. UQllc.
POULTRY
LIVE. Choice stock Bold fairly and values
were well sustained, Quotations: Fowls, as to
bIzo and quality. 13frl5c; roosters, lliB12c,:
spring chickens, according to quality. 13W16C. ;
turkeys, 204122c. : ducks, as to size and quality,
ilWliic: geese, 14810c: guineas, young, weigh
ing 2 lbs, and over apiece, per pair, ft.le.flil;
weighing m lbs. apiece, per p.ilr, MSiUoc. ;
iAlBhlnip 1 (h. nnlece. ner nalr. 60c. : guineas.
old, per pair. 60c: pigeons, old per pair, JZti
23c: do., voung. per pair. 1SU20C.
UUESSED. Demand was good and the mar
ket ruled firm with supplies of choice stock
well under control. Quotations: Fresh-killed
pouil
land,
do .
do . fair, WS22c: do., old toms. 21cs do.,
otilla anA N'n. ! 1(ift!N(C. Fowls. 12 to ttOX.
dry-plckeil, fancy selected, ISc.; do., welsh
ing 4MB3 lbs. apiece. 17iic.: do., weigh.
Ing 4 lis. apiece, lUUc; do., weighing 3H lbs.
apiece, lBUlSUc: .do., weighing 3 lbs. and
under apiece. VlflUc. Fowls. In b Ur.niry.
picked-Fancy, 4W63 lbs. apiece. 17c: choice,
4 lbs. apiece, liic: smaller sizes, 12H$T14c.
Old roosters, dry-picked. 13c Chickens Jer
sey fancy broilers, 24C20c: other nearby far.iy
broilers. 22!t21c: Western broilers, weighing
mU2 lbs apiece. 20a22c: northern Illinois
chickens, fancy yellow, weighing 4 lbs. and
oer. In boxes, lSKlOc. : northern Illinois,
fancy, weighing 2H4MV, lbs., in boxes. KWo
17c: northern Illinois, fancy, weighing 2V4
314 lbs.. In bbls.. ISfilOc: other Wjitern.
weighing 4 lbs. and over, In boxes, 17B18c;
other Western, weighing SU63U lbs.. In boxes,
lSUlftM other . Western, weighing 2V4dW
lbs.. In bbbi., 1413cs Inferior, 13c SprlnK
ducks, nearby, 18jI2ue,t do.. estern. fancy.
17&18c: do., do., lair to good, 12l3c. (leee,
nearby. lB-BlSc,; do.. Western, 1481dc Sauabs.
per doien White, weighing 11 to 12 lbs. per
dozen, $l.oOS3.40: wnlte. weighing. 0 to 10
JliJl.10.
FRESH FRUITS
Desirable stock was In fair request and
generally steady under moderate offerings. Quo
tations: Apples, per bbl. Jonathan, fancy,
$.'1,234(3.60: do., fair to goo.1, $2 603: Mc.
IntoaK. $.163.50; Wlneeap, $2.7S:t 2S: llaldwln.
$2.6(ii3.2.1: Ulack Twig. $2.60l 23: Grimes'
Golden. 2.50ii3i areenfiig. S2.504J3: York Im
perial. $23.1: Twcntv-ounee.v $2S3; Pippin,
$2&H: Ben Davis, f I.T3A2 50; other varieties.
1.60ja".bU; io. .. eivtl.o; awie. iu uuik.
,, CDICI II. U
3;
a.
per
per craie,
strap. Kbft: grapefruit, Florl.
Ida.
VEGETABLES
Values were well sustained on choice stock,
but demand was only moderate. Quotations:
White potatoes, per bush. Choice. Waflll;
fair to good, 81800c: white potatoes, Jersey,
per basket No. 1 Rose. 50263c: No. 1 other
varieties. OOaSScs No. 2. 2&30c.: sweet
potatoes, Jersey, per basket No. .1. 40ej0c r
No. 2 1S625C.; swett pol&toea, VlrglnU. per
bbl . $1 604(1.70; onions, per 100-lb. bag No,
1 ilTofil.W. No. 2. 6oa75c. ; Cibtuge. Danish,
pir ton. $8al0. celery New York per bunch.
lM40c.: spinach. Norfolk, per bbl.. $161.23!
kale. Norfolk, per bbl' OQ73c.i lettuce.
Florida; per basket $2ft2 50; do.. North Caro
llii per basket. 75c.B$1.60, beans. .Florida,
per basket, $1.503.5Q; Mas. Florida, per
basket. $2Sl: peppers. Florida, per carrier,
Sieiit): fWPUnt. Florida, per crate Ssid
2.73: mushrooms, per 4-ib. basket. Slei.SO,
ANNUAL MEETINGS
TUB rUILAUELPHIA NATIONAL BANK
Philadelphia. December 11, 1816.
The Annual Election tor Directors will be
held t the Hanking Home en Tuesday,
jlnuary 11. 1910, between the bours ot IS
Nln"d HORACE yORTESCUB. Cashier.
PIKECTOBV OF ACCOUNTANTS
CertlHed Publlo AccountsjiU
1, WXBmm pg tugbiKo
iHi
CAMBRIA STEEL TO BE LISTED j1
ON NEW YORK STOCK EXCHANGE
Local Market to Lose Another of Its Active IssuJ
Philadelphia Company November Earnings Exnanrl J
. 1 -n Ti-L-- C11S 1.1.1 tt,i. "i
uommerciai raijer ivulus ongauy ociuer
Plillndclphlft Is In ft fftlr way to lose the
market for another ot Its most netlvo
stocks. Announcement wna made today
that tho Board of Directors ot tha
Cambria Steel Company has decided to
tako elcps to have tho shares listed on
tho New York Stock Exchange. Although
for somo tlmo this movo lias been deemed
Inevltnblo by thoso who wero able to
JudBO where tho heavy purchases of
Cambria on this KxchanBO were golnc,
nevertheless tho actual announcement
camo as something of a shock to local
traders.
Kvery tlmo a Philadelphia Issue bo
comes really prominently netlvo It seems
to bo destined to bo removed to Wall
Street. Local traders havo watched tho
process with Increasing; Impatience, but
l.avo been powerless to prevent It- In re
cent years Philadelphia has lost tho
main market for llcadlnrr, Pennsylvania,
Lohlgh Valley, Philadelphia Company,
Baldwin Loeomotivo and Lake Superior,
and to a certain elittent Cramps' Ship
building:. Now comes Cambria, which has
been for months by far tho most prom
inent Issuo hero, tho volumo of dally
trades In tho stock alono often bclnff
Brenter than tho whole of tho remain
der of the list, taken together.
Tho Street was also disappointed that
nothing new In tho way of Information
concerning tho rumored merger was
given out after tho directors' meotlng
this morning. Tho stock was quiet and
rather heavy on 'change. Tho rest of
tho Hat merely marked time, with narrow
fluctuations.
About tho only featuro was k .-J
of demand for Lake Superior i
moved up across 10 on moderate ?'
chases. Pennsylvania Steel pref.mLi i
another strong spot. In Ihs boMT.
heavy trading In United RalC? 5S
ment Bs attracted attention, CL'l'
vnnclng ncross 71 on largo trail...., H
Tho rlso was coincident with thj S
tlon of tho Philadelphia Compan, v
bcr report which showed euWr ''
gains In both gross and net, nfigft
increased 2S5.4M, while for ten J?
the gross gain was 556,0. and ift
Increase $1,133,700. a Xhi
Although no changes In monty tvJ
nro contemplated by the local hLi.n(
this tlmo, tho market for funds li i,',"
talnlng tho strengthened tone VhirW'i
voloped last week. Several baniS ?&
still out of tho market for comS
paper and noto brokers nro reporiM . ,
bo moving up their offering rib? 2.
efforts to dlsposo of their paper &
bankers aro Inclined to bellevo thiiVi'
stlrtcr tone will not prove to korn,5'
the temporary movement which him?! ,
occurs at this tlmo of tho year. hitiS
nnd business requirements. Ther li!. 1
w,...u ..., v.. ....., ivuio, na rejerru h
many Instances are down to a point bi
if tho former 23 per cent requirement u
In force calls would already hare Z
Issued. Withdrawals from thsearikiSl
Christmas purposes were reflect J'l
Inst week's clearing houso statement aSS
aro likely to progress further this wlt
FINANCIAL BRIEFS
Scars, Ilocbuck & Co.'s sales In tho first
huvvii imja ui ii;i;viiiut:i nww qwvtwv iv
day. Tho company Is 10 days behind op
orders.
Kuhn, Loob & Co. havo comploted ne
gotiations for tljo acquisition In Paris,
for tho account of tho Southern Pacific
Company, of bonds of the Central Poclllc
Hallway Company 4 per cent. 33-ycar
European loan of 1011, gunrnnteod by tho
Southern Pacific Company, of which
2;o,000,000 francs nro outstanding.
Tho Steel Company of Canada has
ordered a distribution of 314 per cent, on
account of back dividends on tho pre
ferred stock In addition to tho regular
quarterly payment of l?i" per cent. In
issuo.
Tho Haskell and Barker Car Company,
of Michigan City, lnd., has been pur
chased by Potter, Chonto & Prentlco and
P. B. Kcoch A: Co., of New York. Tho
company will bo recapitalized, with only
ono class of stock and no bonds.
Creditors of tho Dclmar Lumber Manu
facturing Comany, which went Into
bankruptcy throo years ngo, havo been
awarded their final dividend, making a
total of 21i per cent.
Tho Franklin Automobile Company
stockholders havo voted to issuo $1,100,000
additional common stock, bringing out
standing capital up to $2,600,000.
According to Paris estimates, sub
scriptions to tho French loan will total
at least $2,So3,000,000, of which $110,000,000
woro foreign contributions.
Tho nnnunl report of tho Jim Butler
Tonopah Mining Company for tho year
ended September 30 shows totnl net reali
zation of $3I3,4G3, as compared with $217,
SOO In 1914. It wns tho most profitable
year In tho history of tho company. On
Soptember 30 tho company had cash In
banks aggregating 250.6S0, and, In addi
tion, on that date had on hnnd silver
bullion to tho amount of $163,3SS, valued
at 50 cents an ounce.
Tho Illinois Supremo Court decided that
Fedoral Reserve Banks may not engage
In trust business in this State.
Tho Anglo-French wnr loan bonds, 500,
000,000, havo been listed on tho Montreal
Stock Exchange
Iron Trade Review says: "Tho pig-Iron
mnrket Is exceedingly strong. AVlro prices
havo been advanced to tho highest fig
ures In many years. Cast-iron plpo la
higher, and tho general trend of quota
tions Is upward. Inquiries totaling sev
eral thousand tons .f bars for export,
principally large rounds for manufacture
of shells, aro -pending. Owing to the
high prices of spelter, many galvanizing
deurtments of shell plants havo suspended
operations."
Tho Maxwell Motor Company, Inc., re
ports for tho threo months ended October
31, 1915: net earnings from operations,
after deducting costs of manufacturing
and expenses of advertising, selling, ad
ministration and taxes, $1,423,489; other
Income: cash discounts on goodj inj.1
Mt.nnn.1 t!?finm ..a......... . .. . .. .".!
V.II..O..-.. w,.w, nuiiuijr miscdianeoH
luvi-uufj, fj.v,d.v. luiui, tlfliro.BUf.
Kulin, Loeb & Co. have connif.!
for tho itccQiint of tho Southern Pid.!1
Co., of bonds of the Central Pacific RiM
way 4 per cent. 35-ycar European loan
1911, guaranteed by Southernr Pacific Co 1
ot which 250,000,000 francs aro outstanii.tr.'
ITnldnra nf tbn Anlnti T?irnlnle-. n.-1 I
pnny Incorporated B per cent, gold nolei, 1
scries B nnd C, Issued and secured brVI
denturodated May 1, 1913, aro notified Unit
a largo number of tho notes which hard
been drawn by lot will bo redeemed at'
101 nnd nccrued Interest on Januar'lJ
next, after which dato interest ceasea, )'
Tho Baltlmoro Tube Company, Inc m
shortly bo incorporated to taks ever tin I
assets nnd properties of the present Bald-1 1
moro Tubo Company. The new compaajj
will havo a capital of $2,600,000 7 percent,
cumulatlvo preferred stock, of whicl.3
$1,250,000 Is to bo'Issucd now, and tt,KWi
common stock, of which $2,500,000 la to tVl
issued. ...
According to competent bankln aj-1 1
tnorltlcs it is estimated mat ine ewa
market Is absorbing foreign HquIdiUoJl
at tho rato of about $4,000,000 every daj.'l
TO INCREASE CAPITAL
I
Chevrolet filotor uompany fatociuio.(.5
ers Act Today ,&
NEW YORK, Dec. 23. Stockholdtri rf
tho Chevrolet Motor Company meet till
nfternoon to tako action on a prtji&tJ
Incrcaso In tho company's capital flock VI
from $20,000,000, tho present amomil,itars
$75,009,000 or $100,000,000. It Is propoj(dto
tako over about 50 per cent, of the itocliJ
of tho Bcnornl Motors Company on tin
basis which already has been outlined., f
Ono In a position to know stated todar
that the stock that will bo acquired U1J
simply bo turned Into the treasury pfi
tho Chovrolet company, thereby aaaarlsij
control of tho property by the Duraat,
Interests.
Montgomery Harris
Fire, Life & General Insurant
Inspections mado. rates and full Infer
nation furnished In connection wlio
Workmen'H Compensation Insurance.
320 WALNUT STHEET
Hell Telephones Lombard 381I-S1U.
Tax Free in Penniylvania
Penna. R. R. Cons. 4is,
ni'i: .u-cii'ST 1. idm '
Tartlculara on application
A. B. LEACH & CO.
,J15 South Fourth Street
AN IDEAL INVESTMENT
$3,500,000
Gold Bonds $1000 each
Secured by First Mortgage on
THE BELLEVUE-STRATFORD HOTEL
Guaranteed at 4Y2 Interest
By the
Philadelphia Company for Guaranteeing Mortgages
Dated Dec. 15, 1915 . Maturity Dec. 15, 1929
Interest payable semi-annually
Assessed for taxation, $5,000,000 Appraised value, $7,500,000
The Bellevue-Stratford Hotel, at the S. W. corner of Broad
and Walnut Streets, Philadelphia, with a frontage on Broad
Street of 186 feet and depth on Walnut Street of 213 feet, oners
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 offering
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 FOR QtTARANTEElNO
MORTGAGES Is the trustee under the mortgage, the legalltj '
which has been passed upon by John G. Johnson, Esq., who has
rendered an opinion that the bonds are a legal Investment i
TRUST FUNDS In the State of Pennsylvania. Title Insurance to in
amount of the mortgage has been furnished by The Land Title
Trust Company.
The unsold portion of the above bonds are offered at P" if,
Interest, fully guaranteed both as to PRINCIPAL AND INTERM
the guaranteed rate of Interest being 414 per cent, per annum.
Circular upon Request
Philadelphia Company for Guaranteeing Mortgages
Land Title Building, Philadelphia
WILLIAM H. NICHOLSON, President
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