MKf? 5, -
s
EVENING LEDGER-PHILADELPHIA", MONDAY, DE013MBEE 27, 1015
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is
FINANCIAL NEWS
BUYING ORDERS ACCUMULATED
OVER HOLIDAYS, SELLING ABSENT
Prices Were Bid Up All Around United States Steel
Highest Since 1910 Resumption of Dividends
on Stock at 5 Per Cent. Rate Expected
New York Stock Sates
Ni;V YOIIK, Dci 27.
Another stHRf In the niiprpL'liilloit of Improved business) conditions was
tnbllshcd in today's trndlnj?, when Accumulation of outers uer t'liHattnus
cut Sunday minle commission house Inijliiff it moie Itniiortuiil factor than it
is been in scleral ueeNi. Absence of selling orders was so pronounced as
) attract general attention, and as most of the outside buying orders were
t the market, bidding up of prices was necessaiy In order to tlnnsact buslnes".
New Yoil Central hud the place- of market leader, moving up 1V6 to 10DV
laying of this stork lias for mmo time come from sources close to the control
f the property, with Vanderbllt Interests apparently steadily mlillm; to their
loldlngs. New Yoik Colli! nl sold eiiual to Its top price of 1913, 109s4. lis
jw for the ear was si 14, on .March 1. t'nlted Htulcs 9tecl common reflected con-
Inued absorption, which has been nuled steadily In the market since last Wodlies-
-iy, and an nihaticp of L"4 to !si)4 litouglit it to the highest It lias sold since
910. The highest the stock ever sold was 94?& 111 1909.
hate in i.j das there was talk that the dlrcelois of the Sleel Corpora
'Ion at the January meeting, lit cddttlon lit placing the slock un a ." per
cut. liasls, would also deelaie an estrn dividend of 1 per cent, duikers' esti
mates that lite en ml tigs of the eornoiatlon would be $50,000,000 or more for
the prci nt ijuarter tccelved no conllrmatlon. Steel's advance spicuil bull
lentlmetu tbiougbout the list, and miltja by 2 o'clock were 057,000 slimes, and
f thl- totiil 17(1000 bIwcm were Steel. The market closed stiong.
An Impicsilnn prtnil In Important clri'Ies that the Inlying In L'nltcd .States
.teel common, which first appenietl In olufile on Wednes-day last, was Inspired 1 CnvJ I (u pf
iy Infor .utiutt In toward to the dividend policy of the corporation. It Is pos
Ible it 1 inir" 01 1 Ion wms taken at the committee meeting on last Tuesdu
which futilshul th iiiccuilxe for concentrated buying, which may be reasonably
i.vpccteii 'o conti'U.i v til the dividend meeting on January 'Jo. No one hole
low- sii-ii to doubt but that dividends lit the rule of f per cent, pet annum will
ie icsuniod at that tutrtlng, but there Is rrnson to believe that the statement
lor the l,it n.itnrter of th" .vrar, to be issued at tiiat meeting will be of such 11
Lal eloa.
Adams EtprMJ 132
Alaska Juneau
,Maka Gold M . .
AIIK-Chilmori Mfir.
Alih-thatm Mfe pf
Am Air Chemical. .
Am fleet Susar . .
Am Reel Sutir pf .
Am Can . .
Am Can pf . ...
Am C A- V .
Am u . I' pf
Am Coil Product
Am Col ton Oil . .
am Hlilo A. I cither
Am Hide ,t I, pf
Am Unseed pf
Am bormnothp
Am Smelt A lief
Am Mniit ,t Hef pf .
Am Smelter pf A.. .
Am Smclten pf H ..
Am .Sugar IteMning .
Am Sugar Hef pf . .
Am Steel Kotimlriej
Am Tel A. Tel . .
Am Tobacco
Am Zinc I, A. Smelt
Anarotuti Copper
Alch T ASK .
Atch T A. S I" pf
Mlaiilli CoaU Line
llaMnln I.(ki)
Ilaltlmore A Ohio .
Ililtlmore A Ohio pf
llalnpilas Mining . .
Helhlehem Mod ..
Hrooklm Hap I'r
tlrmnntck Term
Hums liroi
Utillo A Superior
fal ri'troleum
C.il IVtroleum pf
canaiiiin I'aciflc
High. Low, C1m.
132
10H
25' i
32K
S5'
10
24,'f
32i
84' f
"I
70
III'
01
uvs
7S'(
11(1'.
15.VJ 1(K)
CM tl.l
in' ii'f
it'3 m
rn'i 7i
Kins t(K' 103
70' (
01
lll't
704
11
lll'J
. !(
nr.'j
IIS
. 02
12S',
20.1
71
. Nl
I(l7'f
lUl'i
ll.V,
ns'i lati'i
. tit1 nv
77', 77'
3' a
171
112 111
IIP 01'
.V? H,V,
110 ll.V,
US' HH'j
G2S 02
129'f 1211
20S '2 20")
71 0'1's
01 MH
107'. 10.
101
114
Cent Leather Co
1 ( cut Leather Co pf
I ( ties ipoUi' A Ohio
( hill Copper.
C hlnn Coppei
! Chli'ngu (Oral West
( hi (t West pf
1 ( hi Mil A St Paul
C M & st I' pf
rlinln. ...!- fi In Mirnlel) ntlrtlllnl liotinlnrtl fn,tfi. fiM nt'lni n t hfnrriltu lirm'nril I ' ' c M I
-- v. .. . ..: . i
inooni-ni 111 ine sua k. 111 oinor union 1 nneu fitaics ssieei common nas
dlscoon'i d th"fo dm utnonts some time In advance, and It should occasion no
surpr' If tlilT discounting Is now in ptogiess.
Tbo cbauutrr of the market in regard to the absorption of what was
former, a Moating supply is indicated most clearly in Unite and Superior.
On Dec eriiber 16 that stock r.old tit 03 ex thn 7fi-cent qtmitcrly mid $7.IiO extra
dividend mid with It-, advance todaj of 2L pnlnui to 72 Is one point higher
than its duse on Pocember Ifi vlth both dividends on. Coppers weie again
prominent, the whole list being strong as a result of the continued Inrge
ritmiind f"" the metal. The price bid for thn metal today, as reported by one
iargc 1 mdifer, was 21 'i cenla, with 22 cents hid. One of the largo copper
produce has withdrawn from the spot copper market and Is not quoting un.v
Drlee-H whatsoever.
Tbo inaiket foi time nio'iej on collateral Is dull and nominal at the low !:".' ... '. t ,
. f tu . v.. -1 - 1. ..1 1 .1, ... 1 lt'1' Mil A Smelt
iiiict, "i mi- w.i. ,u 1 uuimi- ,r ii-nn ii.ii in iiii'ii tiiuiic paper, i iTiiuii
amount of redlhcountltig is being done owing to the heavy deposits of the
financial institutions and comparative lack of profitable icttirn on the same.
COTTOX FliTUIIKS FIRM:
FBW STOi'-li'lSS ORDKIIS
Business Not Particularly Brisk
port Shipments Liglit
-Ex-
New Y ork Bond Sales
NEW YORK. Hec. 27. A fair deninml
was In evidence on the Cotton Ucli:ingo j
at the opening this morning, and the early '
tono was steady, with pi lies unchanged ,
to 5 points higher. Kpot houses wero good j
buyers of January, that option advancing 1
2 points. Notices amounted to only 3,"00
tmlcs I
The situation In New Orients nttinctcil '
considerable attention, mid the belief pre
vailed here that there were many notices
out in the 'Southern market, ns Jnnuary I
fell II points at tho opening. Later, how- t
ever. It rallied 20 points I
The ni.ukct showed firmness during tho
middle of the morning. Covering by .
near-month slioits 1.1s the chief trading I
feature, and .Innuarj led the advance sell- I
ing tpto 1215c,, or 23 points above Friday's
close, whllo later deliveries showed gains '
of about 14 to IS points. The demand
wns not active or general, hut there ap-
peared to be few contracts for salo
around tho ilng ami the strength of the
near positions helped the entire list. Pri
vate wlie3 icported that January no
tices had been issued against sonio 10.
000 bales of cotton In New Oilcans, but
after the Hist break of H points in that
market, there was a rally of 10 points or
more as the notltcs had been promptly
stopped
1 rtddy'H
" Unl I mill n Hi
-i Vm I'nttoii oil -.i .
1i,T4iku Ansln-Kr I, 11
inn Amer Tel ill 4n
ll'Kiim .In n I 4'i,j . . . .
lima Armour 'o Pis .
-"Oi Atrhlnn crn i ...
" do 111IJ 4s
iHltl ill. In lllfiO
III"" ill) ."is
tllOl l ll.llt . () 3 ... .
.ifHl ,lr c 1 1.
. cm a 11 o Shu '!,
rimm llrook II T ."a tnist.
lorn llrn.k Cn f.t 1t ils
II Oil CVnt Ij.illi tut .. .
lino Com Pa.- let 4..
."' ) i ent H 11 .V J :.a
KT'IO Chill Copper 7b
WW Cliea A Ohio n 4',
: t tits A; ohlo 4V, .
.vinn i-hes A. Ohio ." .
tr-o fhl R Knn tub .
Uoti chl U . (J joint 4s.
"fina c ,vi a. st p ev .-.a
IV on M .V- St l cv 4'm
I'.voTn) cie hh I Ine I'js .
VII) xi Cum Prod ,'m tall
hot Del & Huh , 3, r ,,
1(1)11 Del , Hud Ik mill
VK) Ills ,sivur Coip .-, .
icon Ilrle eonv t" fer A
1KI1 l.rle com Is Her II
1.000 Krle iirlur 4 .
KlKVl ilreni tin- II . .
WHO Hud A- M-.in III ..
Kino III siel deli 4'j.. .
n. iiirtu i nir.ii i
HlUll
rJi',
lll,14
I, w
'-T.i
HIT, HP, HI',
' !' IK'.
KIT', II 7 107'.
!CJ' 'C3, 1,-J I,
III I'll, 'kll
v.l, ni.i, sell,
linn, Inn, tun .
lOlL. pil, lull'.
nit, 111 1, titij
I'OJ. 1H,I i IH.N,
IIJ . I V, ti'.'t,
lain . 11 HW
lOPj lujl. 1114'
111)', 1IIIIT, 1IIIT.
IMA, I ill, lull,
IP. 11.1V 111!
psr, tin. t:i4i),
Ml vil vil
111 II' 111
to-.', io-.i , lir.i..
vj, v;n v5T
. HT'x
.107
10.
ll
IHVI,
.ton
'gfj
vt
s.-i
14'4
, 31
!HT,
r.m.
U1)0 Inn Conner r
TOfHI Interh Mt 4Im
1.T.UKI Inter Aler Miir rt IV.,i !i-,
jki.1 I acku Mtcl rw lli;.t lis',
,,rti ,.ai n .-.lc,"l ., I!,..,!
i)a l.-iilp.l.. ins rfd .rn
-immi viHuhnltiin
IKion M nn A. .st I, k
I4IUO M K A T 1st Is
tun do fd 4s
1410(1 SIo IMtlfle IU . .,
iMIIO'l N C lis
7MO N V C ,t 11 l'-s
KIKl N V t'ln Ih id"
I'"' N V I'ltv l'id II'UI
.I imi n cttv I' in imrt
171) II N Cltv I'jH HUB
..mo N V ltv ref Is .
Itfmsl N V ltn ndj Is
.'I O i N V Tel rcii 4.a .
.I(K Nnrf A: Worn 4
Mm Nor Pae ortor li
tfl. lit
IC"i
.101
lit''.
. ."!
M'
.1110'
111
M
.101
1."
.lOHl.
7,J
January
March
Jul)
lutobei
Spot
i lost?. Open.
II !! 11 1 1
r.,,.,i is :'i
M UTi I'.M'-t
1.VW li..-.U
HlKh
I'-Mlt
IV. 41
V.'.MI
f)n. Close.
tl.tr. p.MO
K.V! 1-' '14
I'll", IL'.7V
I '..:! 1LMS
British Cotton Kports
NKVV MJItK. Dee 'J7.- Mnnufncturn of cot- ,
ton itooda in Itict llrltitn now ts iimiildi'rHbl
In exic.b or thos or jtar hsd. uttlinui;h or
tourje, btdow the nori.uil luotu, tlun Thi.
h1uq of .niton uoodrf of iitl Kinds exported h i
itrtMi llritaln In Notnnber of thht ear uhs i
3l..veoai In the wmio montli of list )e,ir ,
exports weru f.' 773.0 u mnl In Xovimtr. !
Jlii.i lil70.Ou hlnn the beBlnnln of tho
cotton rar. August 1. t,rc.it Itrttalii 1i.ih tni .
ported 'roni the I nltrtl htrttra NVLlilt twlea ul
cotton asatnet un'.MUU halts lust sear. I
"lutj'nj
. rfd m.
.'jiijIii Nor I'm- ecu 3i
.iissi lire A CM I tin.. , ,
limn I'aillU- Til .Is .
1M Penil.l 4s 10 IS ..
irsi ,io .en u ius ..
I.VUKI f'uh herv N J .Is .
m Ftp lr A. t-t r.a
-oii heanoaru A i,
'Ml .veahoard A I,
.Msl tioutti I'ae 4s
Tt'lKK) J-outh Pae r la .
2llsl do i rrt f p Ss .
lisiixi houih Pai rfd Is .
I sua vouiii itv Een 4a
urn south ttj ion r.a
10.S) Tol Pco A VV .I'.s
IIKK C S tle.ilt ."is. . ..
i'vim V Steel ."a . ,
irr. Cnlon I'.ic lit la .
imio i ntoii pdl rfd Is .
"000 Vj. Cat Clim Cs .
::o:hi V'.i Itnj f,s .
WOO W lcon Cent een Is
. tivv
tn
. IWi
u-,i..
lOU'J
. Oil,
HHI
.11")
. !M)
. t'l.l
1.7?,
70'J
. Ml,
. h'lij
.tniiU
liul,
. 70V,
.IO.t,
. v,-,
711,
IO
117',
UOi,
loji;
. !l,l.
. viii;
107
li'.'
II'IT,
iii.i .
ion
lunu
-',
71
vn'y
v,
II
:u
not,
!
imi .
7iP,
ir.i,
hv
C
tot
'1
ii
77
.".I
turn,
tt2
VI
07
p)l
mv,
nc,
"
mi
v
111
n
ii,
iott;
H'l',
101)
100' j
mi
inn,
i.7i ;
7D
"'',
led',
!iO
71",
W'tJJl
t'7'4
Ml',
111!'',
!I7'V
!7T,
107
li
IPO
tliti.
Hill
Pol,
!?'
vl
Si,
is l
-m,
mi;
!)Vlk
II--",
101
!ll
r.t
ll'JT,
hi
117
toll,
10V,
S7'J
ll'i
Oil1
;n.
CiO'i
lM)s
S3S
oTa
IIIO'i
. Ii2'n
Ll
Ill's
r'i
.'I!)
t)l"
I.TJ'i
IIH,
70
IMI
Hi's
74
10.S a
52'
;n
. sni
II.V.
10's
Hi's
7:i'j
. i .vt
. Is4
. 'JS'4
(i'4
tu"s
,W i
.-iJ'u
I7:u,
K".
US
71'4
tlL4
l)ls
.1L'0,
. 4S4
hi)1 .
ll'i'j
Ills
. LM
. . (IS
. 1!1'
.. 7SU
.111
..117'j
.. SO
l'J'i
10'j
.. t.V-s
IS
. 7.T.'
.ion
..100
Kansas ntj Southern. 31!s
Laik Pteil .. SI
Lake KnV A Wist 15
i Lake Erin ,v V pf . . ,"iS
! I'hlsh V.illc.v . . 8H4
i.oose-w ins ins 1st pi. imps
U'1'4
im
ll'i ii'n
i'i :i'j
17(1 470
hS', S71
132
10
25
32H
8.J .
72
m$
91
(ll'i
ni'i
70
117'i
l.0
).)
tl'f
f)l'
ll'i
70' J
106s
112
Ml If
s,-.',
llo'i
I18'(
02i
I2f)
L'OS'j
r0'
0!
KI7li
lllpf llil'f
III 111
1
111
2tJ
32
Slit
70!
OO'tl
M
Wi
ni'r
78'j
117
lotl'j
,M
11U
ll'i
ll'i
70
STRENGTH SHOWN IN
OUTSIDE SECURITIES
j Sales in Philadelphia
Heavy Demand for Midvale
Steel Marine Shares Ad
vanced Sharply
( (' &. M. I. tif . .
Chi Northwest
t hi li 1 A lie
Cluelt i'ei ,V Co
Cluctt I'ea A Co pf
Colorado Fuel ,t I
Col & v0hern
I onllnental Can
Consolidated On
I Corn Products Hef
( orn Prod Hef jif
( ruclble Steel
l)elau.iri A Ilinbon
DUtlllers hocurltles.
Dome Mines .. .
LI StOMKO Hit
i:rlc
II
ss
71
:il'i
l2
ISO's
M'i
lO'l'l
02 's
24 'i
fll's
15-,
.'III li
014
1:12
60
7ti
13 J
10s s
7
lll't
6'i
Si S4
Htl'i 116
2(1 lit'.!
!)2's !)ll
7.-.' i 71
161'ti 16T
I0U IS
l.'rn
SS,
72
:'i
(ll'i
182' i
8.-.
61' t
110
(Ill's
2'
1614
Il'l'n
!)Vj
1J2
611
"(1
in:i
17
7.1H
1111,
64
:ii's
I Piil MI11 A smelt pf
, 'ieni'ral Klertrlr
I (ieneral Motors
i tieneral Motors pf
Goodrich U r Co
Goodrich 11 v Co pr
Greene-Calianea
Great Xorthern pf .
t! N its for ore prop
Guecontielm Lvpln. .
II IV Kl Hj LA I' pf
Illinois CVnt
Int vurlouliunl . .
Int Agricultural pf . . .
Inter Con Corpn . .
Inter C on f or pf
Int llarv V .1
Int llarv X J pf
Int llarv Corp
Intertntlonal Paper
Inlcrnat Paper pf .
Inspiration c opper .
Int M M rf ip
Int M M pf cf dp .
Int Nickel
Int Nickel pf
imp,
tin,
twi,
IB",
10JT,
till'.
lull
Louis A Nah
Mavell Motors
M.u Motors .1st pf
i Mat Motors :.M pf
Mas Dept Mores
I Mevtcan Petroleum
Met, Petroleum pf . .
M ht P A S S M .
Miami Copper
Mo Kan A Texas .
Missouri Pacific
Mo Pacific tr cis . .
National Dlscult . .
Nat Cloak A suit .
Nat Knamet Ah.
Nat Knamel A S pf . .
Nat Lead
j Nat Lead pf
Nevada Con Copper
I Ne York Air Ilrake
I N Y X HAH
1 N'ev York lentnl
N i Chi A St L
N Y O A West
129"
. 701s
1II2M
. 66' j
02
HlVi
07
121',
. lli'i
' 31.
IV.
.127si
79'4
. 20
. 01!.
. G5h
110
. 10
130
IJi
20
(10
12!.
r,r,u
:tJ'a
62 ',
176
600
I17'a
76'i
112.
62s
120',
ill's
Ml j
1(10',
I0S
00
21',
77'4
111
MO'i
SOls
12'.
604
40'4
204
7ti)l
106h
111)
U2U
SL"i
16
:i'i'4
S2l,
06
120
77 4
KM.
60'4
02
lOS'i
OS
125
36
04
4
I'i
127
70'j
20's
06
Oil
111
Hilf
20
05
I2'4
50'j
32 h
62 '?
17.'!
1S5
1104
74!,
112',
514
12114
104
SO',
004
1074
00
21",
77',
110',
110'4
SOU
124
504
154
1S4
714
1054
110
314
h2
15
30
SI
034
120
77
1024
50
02
1054
OS
1214
Mi
04
34
14
127
704
294
05
054
111
10
12(1
Ot
774
34
170
134
SS4
714
324
(VI
IS 14
SJ,
61
110
03
214
65
inu
304
054
132
60
70
13.)
17
73
ltt'f
634
314
S5
1154
104
1)24
744
1534
4S4
20
00
424
604
324
m?
1304 130
17
400
U74
754
1I2U
120'.
514
M't
1004
IMS
00
214
774
III
1 104
S04
124
504
Ihi,
iD4
75
1054
110
314
S24
15
30.4
M.4
034'
129
I f
10!
504
02
IDS
0
125
3 US
04
I
44
127
704
294
05
061i
111
104
130
704
.10S4 1104 10s4 1104
KT' ! Norfolk Southern
404
304
10
30?
154
30',
45),
304
074
70
hV,4
h'll,
1IH.U
IS)'.
70',
lftt',
V,
71',
till
07
Ml',
io.'i;
H7li
W14
FOHEIGN EXCHANGE
NEW VOItK. Do. i'i Tho fnrelKn exihanne
market opened dull hut inead We are ao
close to the end of ihe year that foreign pay
ments mi account of Interest unit dlvldVnls no
loncer ahow h refteeilou tn the market. Nnt
wttlistaudlnK the nuletude a steady tono ore
satlel, een Vienna whUli had teen uuuted
dotsn In f 1 1 T tale nn l'riday rHlltnK to
S 13.-d and $1140 Merlins was lira.thatlv un
rhanKe. at fi i.l for demand and tt.'l'W fur
tardea. l-Vain tablea were tellhtly btltei al
(SSTb ai'd t"V,Ma for i hecks.
Other quotations nere UeUhsmarkii "insli
7fiT,c lire tables, ii ,-a,1, ihe.ks U ."4
Sntsa tatdts SVi',, Lhetka. ,.ll- stnek
holm slMnnjve pesetas. IS km, IV sv. ,
guilders. l T-1M,4I 3-1i, ruhlea .tn4ii i!',i
111 the early Hflernoon strength deselnped in
Itcrllnsr rrancs and Kuildera The other niar
et was not appreciably rhauxed Demand
Merlliur r se to H 7- 1VHI and laulrs to 4 7.1'..
rran I'ahlea were ituoted at ". vt and iheck
i t fkhl Uuih.era Hrme.1 no to 4 1' , itelchs
marks wero nominal at 70917(1 M-litc
Tlie buyine of sterllns noted In ihe forenoon
abated In the early urteruoon hut the market
remained stead francs also Improved, lin tho
utht r hand relchsmarks turned a shade
raster Jite afteriioon quotations Here De
mand sterling, ft ViU4.T- I 'HI. rablea.
t 7.1 13.lKtil.TJ1... franc cables .". h-iu.
Checks. J3.S4';, rekhsmarke 7ir.?iTil 11 -Hie.
WINING STOCK QUOTATIONS
TONOiAH STOCKS
Hid Asked
JUn Butler . .. m l.nu
MacXatnara, . , ,. ,Ot .04
Midway , 13 ,n
MUpah Extension .'l ,'.1
Montana ' 21 .i
Noxtherni Star , 13 .Id
Tonopah Helmout ... i',, ;,,
Tonopah Extension .,,,, 4 H,
Tonopab Sllnlnr , 7 7'i
Iteatue-JCula. ,.., ,QS .1)3
West End! ... M .M
GOLDFIEI.D STOCKS
Atlanta si .22
Blue Bui) , at .01
Booth - , Sx jj
liulldoc , 02 .IK
c o li ai .in
i omblnatlon Kactloa - Ot .Q.S
Dlim-jndrleU B 11 ! .fal
DaUy JV( .0t
Florence 4t .17
Uoldheld Cwisol kilted .t.l.i 1.0.1
tsoiaiiatj axeraer . ,i
Jumbo Extension , .....1.2i j
XCuwiruis If)
ra .. ,05 .0.1
sauj eo on ,u
i run oa .ih
MISCELLANEOUS.
VUrtr te. . ,ot .Oft
Klsilerly, 02 .in
KfTda Kill 15 10
Nevada. Wonder J.3& 1.70
Psris Exchange on London
PARIS. Dec 27. Exchange on I.qndon
Is St trunks 13 ceiitlmca, a gain of 3
wntlttiei siiue Friday
New Passenger Rates Denied
UA8IUN'1TW; Dee .7 Ta interna i
Cicastnr? Cvmmiktiaa tcsfuy i olvl the peti
tiee J4: ib csijjbi t))M ,iv.a tc.,i'Jtui
NEW YORK COFFEE .MARKET
NUJV VOItK. Dee 27 - At the openlliB this
mornlnc business in tho i often market was
dull and prices weie unchanged. Thero were
nn sales on the call
The market enntluueil dull and featureless
tliroughout the Hi si hour with few orders In
evidence either wa Nothing oicurred oer
the holldais tu altrart new business mid the
dullness to the snot position eliminated hedK
iUK operations. As a whole the market Is a
leaturelcss me at preaeui ltli little in the
situation tn cninineud operations
Itio was unchanged at live $4MI for No. 7.
pichanKe. 12'. d , unMmnscd Itecelpts. Shoo
bams, and stock, nil (ssi li.iits. Hauios was
uuchansed at nve t0n for .. 4. Receipts.
SOlssi PaKs and stock, 2,.'.'dfsil baits
liecelpta at the two ports were As 000 baits,
uaaiust flv OOl) bags a viar uko and 3J Is 0 bans
two sears am. s-ao f'.iulo had tv.ooo bass,
Kiint 4,i4io tuKs und lo.iss) bait, ami
Jundiahy 4J.OK) bass, against .in 000 bags and
.Shimo bass, respectively, rleared from San
tos December 21 the a S. llelnu, with. 4v,ooo
bags for New ,ork.
Today's Kriuaj's
opening i lose
Deceinler I.I.MIn Hi
January I4imnr,0
February H.33aii r,T
Mar.-h il.tlt II iJifiii ill
April , ii mil, i O'i
May ll.i,3 iil!0fll)71
June i: 7iNf,i;.7u ii.tiwi 7',
Jul 'U.75 11.7081180
Auguat , IIKIHtlha
.September , lls-.iinsv o V7f.ii ks
October 1 1004,005 lll'2illl4
November T.W libSSjU-js
TJJlct.
-Vorfolk & West-rn
Notfolk A. West pf . .
N'ortli American
Northern Vncllti ...
Ontitio .SI M ...
IVnn II it
Philadelphia Co ...
People.) r,as Chi,
Pittsburgh foal . .
Plltiburzh Coal pf
Pressed htcel Car ..
Pullman Co . . .
fty Steel Hpg
Hay Con Copper
IteadlnL' . ...
Hep Iron 4 .Steel
12J
SO' i
. 721
117'.'
. 10
. 5!l'i
. 15
my,
:i.'
mi
0l4
. 105".
45 15!
251f L'5'
Hi 5(HS
122J,' 121H 122
85 S.'J4 S3'.
1-
M
. fl','
. IK
40
lWl,
02's
102
2.J
(i2'
Ml
KiT,
AH
lSJi
IKS
llUl
French Bank Gains Gold
M I'AllIS. .Dec. 27. An lncreaju or 4120OCO0
franca gold was shown In the weekly state
ment of the Bank of France today Com.
vartsons with last week were as follows
France Francs
Dec 21. Dec. IU.
UoU . .. S.07O. 500.1 KV) 6,0211.1X0 000
.,,c, . .. tM,JC'.l"J.f
Circulation . . . 11.201, ibo.ouo
Desjoslts . i.lHS.luQOOiJ
lillU dlseounted and
exlvniied hills .. "u IWm nnn
Treasury deposits. :tU2.huo!oio
Advances
:U7.7 non
n.4iii :.co irfo
2 2U,1UO.)0
2 212.110 OlO
2,23rt,7O0.00O
l.lad.SOO 000 J.W3;700AiO0
London Silver Exports
NEW YORK. Dec. ST.-Plcley & Abell re
nprt the ejports.of silver from London to In
dia and China, since January 1 as follows-.
... . 'ndla. China. Toial.
1B13 .1.U.0O 7.000 3 11701X10
18U 5O02.O00 60.000 0.712.WK
To Pay Off Bonds at Maturity
NEW VCMIK Dec. 27.-The $4 500.000 sec
owl laortKaxe U tier cent beads of the DuluiU
sad Iron Kange Hatlroad. due January 1 next,
wfll be paid oft at maturity out of earnings.
Toe trulied Mates Steel Corporation owns 4.
fJcMJ.OOU of toe Issue.
French Rentes
rRIS l)ec 27 Threo per cent rentes
were 63 f runes 75 cer time" for cash toda)
uncliansecl from Thursday
Hep Iron & Steel pf..JI0 110
I itock island Co..
I Hork Island Co pf . .
M I.nuls ASF
ht I. . S F 2d pf
I heatswrd Air Line.
heaboard Air I, pf
hears Hoe 4. Co
Moss-Shef & AW Co .
Southern Pacific
houthern Hi
bouthcrn Hv pf . . .
Staiuiarl Milling ..
Standard Milling pf
Mudetuker Co
Tenrt Copper
'li'ias Co
Texas &. Pacific
Thltd Avenue
Lnlon Hag &. Paper
I lilted Cigar Stores
United Cigar Slfr .
United Or Uood3 pf
Lnlon Pacific
I't'ion Pacific pf
United Kruit
U S Ind Alcohol
U S Cast i P &. F .
V S O I P S. F pf .
United, it) s Invest '.
United Hjs Invest pf
U H llubber
i -" a .; . i ';
US 1171s 117'.
HI ll'i !)J.
(10 .Vl'. ,W4
15'. 45, I5M
1093. 10'JVj ill')'.
:ion ;i5i ad
ui't ui-i in'.'
()5V3 05 (Hi,
l(15'i 105) 105's
45 45'f
25V5 25ti
82
55'f
110
K1U
50l
110
If
Mi
r,
1SVJ
.'iO1.
1S8
fi4Ji
o
lhlj
30!.
1&7
CiJ
ItfiH 102). nn
231 23),i 2J!'
O'i (i.'t t;-t
oo hs yo
S.". hi 85
-167'. 109 107K Khli
. 5U 00) 00 ft'JIJ
2.'iOl 235 230 231
. 15W 15). 15?.' I5i
. 01 fill 00i IKl'J
8', Ms h 8'
9!j Olj 9'a U!4
. 2)j 62?,' 02i Ctl'i
71 71 71 71
138 13UM 138)s 139
. 8,l) 8,'iVj K'i 83!j
118 1101k I4SJJ 149U
128M 130Vi 2J 120!.
. 24 2 Hi 2!i 24)5
50 4S 18 IS
. 2H. 21 20)' 20
3sJi 30 39 39
55 555 55)i 55!s
U S Hubljcr 1st pf . . . 1091s lOOh 109M 1091-i
Ubhteel 87) 89H 87)i 89
UbSteelpf UQU Uu'i 110) WU
Utah Copper
Va-C'aro Chem , .
Va-Caro Chem pf . .
Va Iron Coal Coke
Wabash
Wabash pf A
Wabash pf B . .
Western Union Tel .
West E & U
Western Mar j land
Wheel & Lake Erie
Wheel A h E Ut pf
Wlll)s Overland
Will s Overland pf .
Wisconsin Centraf
WooWorth Y W Co
80Vi 81)i 80H 81
. 19 10H 49 40).
Ulh U3f 113)( 113)
65
16
43'
SOW
. 87
. 0Si
32
4'f
17
210
114J,
3W
C5
10
45U
29 H
b7ii
69U
32
W
17)
240)i 240 240
112 U2I1 1123
3SH 33!i 3S'i
07
101 i
46'f
29)
SS),
C9J,
32
1)1
17H
f.7
101,
46)' WH
8S
69
32
Hi
17M
119H 110 119 110
DIVIDENDS DECLARED
Unltsd Uas and Electric Company regular
emlsnnual 2V.per cent, on preferred, pay.
able January
ter 3
15 to stock of record
f'encsjlvanll Bait Manufacturing Company.
uary Jo. iviii.
resular quarterly 2 . per cent oaynble Jin
as rexisiereci December JI. 1U13.
b & Eh,tyejute fiTES l)lween Kaunas City anil
J-i ngM.Wt 11 Pf Wy ef faJO Js Ttw
BAB SILVEU
el sUial wswka ra,tM ffjuMr ivUli SsBW TORK Dec ST. Tie aU"tatlon for
rw m, Jier ssss sss8w mwoiim. seiaaierpui ta- ie luOiiy v ss'i teats.
Natural Gas for Baltimore
BALTIMORE. Dec 27 After tha first of
its year the movement to brlaa nnurol t;j.s
to Hiltliiiore and distribute it to tonsumers
ill be talcen ud by the., Celumbla. Gas sad
Elec-Uk CmDpy i-ordlo to . MstenMOt
nude by IrsJicu ,K C'rey local coual is
lbs J.niurul Uas tsiXMH.
NEW TOUK. Dec. S7.-Spculatlon In
was oKaln on nn active scale with tho
Benoral tone stroiiK. There were few ex
ceptions to tho upwarrl tendency and
while sonic realizing? developed after high
levels were renched, reactions wero of
.'mall nvoportion
There iai a lieay demand for Midvale
Steel at an advance of tiearly a point.
' International Mercantile Marine shares
moved up rather sharply, the common at
one time slionlnir n Rain of more than
2 points nnd the preferred about 2V4 In
tercontinental nubber, nfter movlnR up
nearly 2 points, reacted about a point.
The motor slocks uero fairly active but
reactionary. Chevrolet moved within a
ratine of 6 points White Motor, nfter a
small loss, recovered. Submarine Uoat
was a shade llrmei. Haskell & Barker
Car was undPr pressure and declined 3'j
points.
Oils were extremely quiet, with n fair
Inquiry for Cosden and Houston Oil. Cop
per stocks weie ngnin prominent, with a
heavy demand for Kcnnccott, nt nn ad
vnnco of nearly a point. First National,
nfter moving up more than a point, cased
off about
nrartsn . . . , ..
Hrlllsli-Anierlcan Trust, oH
ttrltlsli-Ainerlian Trust neir.
Chev rolet . ...
rtnlrl fnnDll.lAlort
l!nrtie Vfiiuiforturlnp
Jiitenmltonat Marine. . .
Internntinnnl Murine pref.....
Krrmeiott I'onppr .
Itltsh Vnllev Coil S,llf. .
Marionl
Hamuli Cupper . .
Mlrlvnti)
Mpls'lm; .
ntls irievnlof
"lis Rlevator pref . . .
f,rl'';r ..4.vi
nikcr-JIcneniati . . .,
hterllns TfurrT ,,,,. .....,,.
Sut'ni.irlne .
Tolnpro Prnaurts
1'nltod Profits Pliarlng. new
White Motors . T.
World Kllin
Vukoti Uold ,,,.
100 Allld-Chal .
100 Am lioeo. ,
xun Am Smelt..
.1 do pref. .
i Anaconoa
FrIdRyJ
Close, lllfth Lejv. CIo;e.
H.'TS il.1
iviji 71
Tl
71
X
71
10(S lOIJi 10i'4 lOBU
.'i IU'1
tM4
Kl
10 Haldvvln loco. .11S'4
S00 CM Petrol .114
W Csmb Steel.. . 71
Itsl cramp t e.,.. . SJIJ'
10 Col I' Sz I tej,
100 Hrie A i
m- ;:tec stor in
loo Oen Asphalt. . .11
00 do pref . . .. 71"4
i's, Kan i ny eo.. . .
2.VI Kevstono Tel. . I
1IO Later, Sun. . .
0 lyniitii vnney. . . .'s1
W's
isf
TO
PO
lWi lam lain
45i
nid . Asked
I7U 17
1 i'i 1 -i
. 11)5 in
12-i 110
I'i 1's
2si an
1R tSl,
. 7-l'4 7fi
.'in, M
. tn si
. tl'a a
: ivi "A
-si? "y
. fir nn
tel 111
: 31 Sit
. .11 i
,1T, ,1J
a ml
. 2T4 .1
101 do prer t c .. .1S'
100 JJt llros .... l!i
Wi North 1'eniw in
n lie fait Mrn- . tiHU
il Pciinn .... .V15
10 Ia Ktetl pW . il
Wi Phlla r.lrttrlo.. Its;,
J I'hlla r-o pf fo&. .tnU,
21 do cum .. A2n
sun J' it T t c . sija
.) Htts roal .11 ,
10 Ray Cons .. . ail.
10 Ket tr A St .. .It',
isi Headlnc . "J1
an i So I'.ic iojw
lis. Htlldelmknr -. ll.'S. lrai
2jti ninopah 1!-I .. IS 4",.
ii" roimpan .Mining ii"4
.a
i?1
Si
71
n
10
.181 1
11)
i t
tfl
HI
H
2"!
at
I
:i.t
74 ;i
0.1
liil
'
:ei
(
w
m
If.
10
VlSs
al
IOJS litlU Htl
ui't "Jli
iT.'4
K1U
I'I
)
M
:.o
W).
M
l'H
1 11
I'm
as
in
tnu
no
r.'iu
SI
ttsH
i'i
.in
2514
Ml,
11 HI fnlon Trac
n I' u i .... .
17S70 tf S Steel
WW Utah t-opper
-'I., Uarnlck
I Vorlt Ilwv tfd
41
so
S7,
SUA,
ID.
ai
iiiu
w
SI
101,
.If
1(31
I'i.
6.;,.
so
s-s,
!1
101,
:i4
I'M
rot
S'l
si
noNDa.
l.nst rrcv eat" lilgli. tow Close
few'" .Am uai L.I us pni'S li
oooo Jntor nnjs 4s.. r.a ns
Wil, X.cons 414s 101T, lol",
aooo I.ch V Ken 4.. til', tiltn
Moo do Kit 44s 03. lots, ton,
tlOOO do Coil is ip.l05j lolj,
wsx renno sen 4'js UN)', lco
4200D l'hlls Co cons r.s 8S1, H'li,
I.UV) I'hl llln J il K.ll.
irni rin r. . 101IM ll)trt 111
K" llentllns: (ten 4s. m Hl Ot1,
jisif ao i erm us . . 1111
rw Vn Rmjb t o 4s 7.', 75
so"
tw
lot
H1J4
10'K
100 fc
.3 :
ti n,
110
bit
1U1,
llll'l
HIS,
Iti.C,
OP,
no
HOLIDAY STEEL TRADE HEAVIEST "1
IN THE HISTORY OF THE "INDUSTp!
. . V
Cambria and U. S. Steel in Active Demand on the Local
Exchange Rapid Transit a Feature Rnnri
Market Disappointing to Dealers
COPPER 3IAI.KET STRONG;
ASKINfl PRICK 21 1-2 CENTS
Financial Briefs
At a mretliifr of the Board of Directors
of the I'hllidelphla Trust Company, held
todav, Ildward llobcrts was elected to
membership on the . onrd
H. P Raker, vice president and sccie
t.iry of the I.ehlgh Coal nnd NavlEfation
Company, after January 1 will have
chai'Ro of the commercial operations of
the c-ompanv, under direction of the
Board of Manacers. Henry It, Pease,
now treasurer, has boon elected secrtary
In place of Sir. Halter, resinned, and will
assume the duties on January 1.
There has been added to tho resular
list of the Philadelphia Stock Kxclinngc
M.&TAWO additional common stock, and
$l,cM,000 additional preferred stock of the
American lUillwajs Company of New
Jersev, Issued In payments of tho sub
scription of the American Hallwavs Com
pany of Now Jeisey, made February 1..
1013, to n like amount of preferred nnd
common stock of the American Ilnll-
snlii Cnmniniv nl" T"lr.lnTV'ifv A drill Innnl F
slnuc. of various companies; have been
placed on tho regular list ns follows- 1207,
."Xio Amcrlc.in TeleKrapli and Telephone
stork. lOOO American li.is stock, JlSiO i
Ameilcan Mllllnir stock, J3000 Piilladelplila I
uonipan.v llrst and collateral tinnsfer
able li per cent, bonds. 1913 There has
lieen struck off the regular list $13,400
American IJallwnvs stock retired nnd can
celed. Tlie New York banks gained H02,000
from the Subtrcnsury Frldaj.
Stockholders of tho Pierce Oil Corpora
tion ratified the proposed Increase of $3,
COO.OOO In the capital stock. New stock
Is to provldo for convcision of J2,000,000
notes recently sold by the company, the
proceeds of which are to be devoted to
plant extensions and betterments.
All the foreign Brain markets and the
London Stock Exchange, remained closed
todaj .
Total fuel shipments on tho lines east
of tlie Pennsylvania Itallioad for No
vember were G.721.9S4 tons, Increase, 1,671,
S10 tons; from January 1, fiO,097,B64, In
crease, 761,243 tons.
Arthur IV. Sew all, president of tho
General Asphalt Companj, v.as elected
a dlicctor uf the franklin National
Honk today.
Snyder & Co , Parrlsh & Co. and H. F.
Bachman & Co all boucht Ttapld Transit.
AV. J. Pealo was a seller.
Cnlumot and Ilccla Sold Out Up to
April
NEW TORK, Dec 27 While some
dealers lepor) the market quieter than
last week, others ore still being swamped
with orders and Inquiries, nnd the situ
ation Is said to be a very strdnpr one, so
far as prices are concerned, lt Is known
that the supplies In tho hands of the pro
ducers and sellers are small, nnd even the
present demand Is sufllriont to take tlie
entire productive capacity of tho ininea In
this country Some users of the metal
are In urgent need and arc making the
rounds to secure supplies so that thev
can continue the work at their plants
They show a disposition to place larger
orders than ever before with the price 1
receiving secondniy consideration Todav 1
ono largo producer quoted popper metal I
-'I'd cents bid and 2S asked
Not In many years has such a condition
existed, and tlie dcaleiti aro hoping that
tho market can be held In check They
point out thnt any runaway nffair would
bo less licallhv than a normal situation
and while they believe that prices will
work higher, thev would lather see a
gradual advance cnued by the sttpplv
and demand Tliercfoie, It Is qulto ap
parent that with any continuation of tlie
Inquiry higher prices are inevitable
However, It Is admitted in trado circles
thnt the qucston of quotations Is practi
cally cut out of tho hands of tho sellers,
ns the buvers aie actually bidding for tho
metal.
It is understood that Calumet and llecl.i
Is out of the market in copper, having
sold Its entire output up to April.
Tho steel group of shares was the chief
centre of activity on the local exchange
at the resumption of business today, and
the tone wa distinctly strong. Ileports
from the trade uniformly agreed that
thl It the tnisleit holiday period In tho
history of tho Industry Tho demand
shows no slgni of falling off, and tho
companies are rompelled to refuso new
business on account of sold-ttp conditions,
Oideis for delivery ill tho last halt of
next vear aro steadily increasing, nnd In
dicate that tho mills will bo operating
full for the whole of 191G.
All ofilclal of one of the Independent
steel companies this afternoon said that
refusals of business by his concern Just
nt tho moment wero larger than they
had been at nny time heretofore. Tha
olTlclal in question also stated that less
was heard of shrapnel Inquiries from
lluropo at piosent, hut that the demand
for bars, shapes and plates more than
offset this Ho milled that even icgitlar
customeis of some of the steel companies
aro not able to gel the orders booked for
shipment before next August It is esti
mated thnt about l.CO.OOO tons ot shell
steel for expoit to Huropean belligerents
In the last half of next year arj Involved
In Inquiries Just placed before tho Amoii
can mills Ux-pc.rt. Inquiries for SO.OOO tons
of steel making iron have been received
In Pittsburgh alone.
Rapid Transit becamo the leader of tho
market In tho afternoon Heavy buying
orders mode their appearance, several of
the big uptown brokerage houses parti
cipating In tlie movement. After about
4000 shares hnd been cleaned Up around
31, thn price suddenly soardo across 51.
porno largo blocks being taken on the
advance, t'nlon Traction wns leb3 active,
but doveloped a llrm tone No particular
nnivs was forthcoming to account for tho
sudden interest taken in the local trac
tions, and tho Stieet was inclined to re
gard tho biiovatirv in Ttapld to pool oper
ations based on the expanding earnings.
The rompanv Is now showing returns at
tho lato of about 3 per cent, earned on
Unreasonable Coal Rates Charged
WASHINGTON. Doc, 2". Ciireaonabl9
rfltes on conl from Illinois mid Imllana to
Wisconsin MlniiPsotn. Iowa nnrl oilier points
wero cnnrcM tola In a cnruplnlnt illivl witn
ihf Interstate Uommerco Commission by tlie
Illinois ronl operators the tiiillana bliu
nilnnuH operators unit thf Central Illinois Op
erators' Association against tho 3ant.i 3 and
r,T other rallroails.
Ready Dec. 30tli
for
Every Employer
And Employee
w
HAT you DON'T
know about the new
Workmen's Compensation
Laws would fill a book.
Here is the book that ex
plains every phase of the
new law as it will affect
YOU. It clearly shows
you how to avoid every
misunderstanding, whether
you are an employer or
employee.
DIG EST
of the
WORKMEN'S
COMPENSATION
LAWS
By
William A, ScKnader
of the
Philadelphia Bar
Single Copies 25 cents;
10 or More Copies IS
cents; 100 or More Copies
10 cents. Postage pre
paid direct from the
Offices of the Public
Ledger.
KHUffimmEraer
Ebwar B13M.ITMJ &Xo
BANKERS
BaOiP AND CllESTNBT STV
PltlL.APEI.PUIA
The following- coupons are
payable on and after January
1st, 1916, at this office:
Philadelphia & Western Ry. Co.
1st Mtg. Ss, 1060.
Easton & South Bethlehem
Transit Co. 1st Mtg. 5s, 1936.
At Our New York Ottlre. BO l'lne st
Buffalo & Susquehanna R. R.
Corp. 1st Mtg. 4s. 1963.
I ' i.
Y'
4
Phila.& Reading R.R. Co.
Improvement 4s
Due April, 1047
I'rlce on i)llcatlon
'. I Prlco nil iitillf.fl Inn iw.
TJ ,
tho stock. PhlladetpMa Companv i
also turned ulron tl,8 nfZ"7 '?l
common jumping more than l S
Considerable disappointment -. i
pressed over tho lack of actlVitvV ,
bond market Dealers hid hlV" H
for tho customary relnvestm.M iMk,t1
SLfitelt Is usually In evidence onV.ffl,'
tho bis January disbursement" iif, lv )
year will bo oven larger lm '..'J W
result of bo ma.ny now concern. !M
become dividend payers, tc . iy &
of tho numerous Increased paym.nu1,1!
Iy announced. The bond inarU, fUt
last week has been mainly UkM, ttl
the absorption of tho Aflglo.ftL'lS.1'
With this out of tho mydeaH
a more diversified market hM'
Nnw York .
J'hllndolplJla
Iloaton
Chicago
RATES FOR MONEY
cii
m
CIIC41C .. ...... . fiUfti .
Commercial topr three to tt. mn.v4
lulclphla, 3'4fi4 per cent monU
BANK CLEARINGS
Bank rleirinun tortus- eomparetl urn, . ,,
arondlnR rlay iant two vean IUl '""v1
Phlladflphii..Tiii.4-ii lnrti.n ffl.-
New York 7an.4O3.100 lTS-MBi! SiJSjjjj
Keystone Telephone Co.
First Mortgage 5 Bonds
Sue 1035
""J"1.'. V"ttanrtlnr repre.Mt abont
one-half the nmount of cash IntMUd
In the property, "
rt enrnlnir for paU fnnr ren
over tivlro Interest chare.
Listed on tho Thlla. Stock Ihctilntt
I'lllCn TO YlKLtJ ADOIT
5.33
Free of Pcnna. State Tax
DKSCRirTIVB cmcuun ON
IlUtHJEST
Harper & Turner
Investment Bankers
ortkcsi looo-ini:
STOCK i:.XCHAN(li: HtTLUIXO
l'lillniletphln
Tax Free in Pennsylvania
Penna. R. R. Cons. 4,s
nci: Ai'ti. i, looo
Partlculam on application.
A. B. LEACH & CO.
115 South Fourth Street
$500,000
City of Newark, N. J.
Dated Nov. 1, 1915
Gold 412s
Due Nov. 1, 194S
Exempt from titc Federal Income Tax. Legal In
vestment for Savings Banks and Trustees in New
Jersey, New York antl New England. Tax Exempt
in New Jersey.
Price 108f and Interest
Yielding 4
Special Circular L 67 on Request
Remick, Hodges & Co.
e.m.glarH$0o.
14 Wall Street, New York 321 Chestnut St., Phlla.
Members New York Stock Exchange.
Antici
ANNUAL MKETIM1S
iKSS TI,E CKXTKAL NATIONAL nANIi
1-E' or 1'itu.AoKi.i'ni
Decemlicr 13, 1015
The Annual, Election for Directors of thl
Hank will be held at tho Ilanklne Houso on
Tuefcilaj, January II, 1010. lietneeu 11 a m
ana 1 P. m. WILLIAM POST.
-nsl,ler
,
ANNUAL MKETINU fir Till: dis
tributors to tho I'rrxton Itrtrrut for
tho purpose of electing iiiniiiiEer u treas
urer and auditors, and for tho transac lion
of any other bustnc mi proper to i onie l.efnre
them, will he held on .luiiunr loth, 101(1,
at -I p in , at tha netreat, 20th and Hamil
ton 8I3-. Philadelphia.
OEOnOK D. POflTKn. Becretary.
Anticipate Your January Investments
We are prepared to supply a list of investment Bonds
and Stocks that look attractive at present prices.
A small deposit against present purchases will enable you
to take advantage of existing prices pending full payment after
the first of the year.
REED A. MO RG AW & CO. Members of the Phila. Stock Exchange'
M MIT' -""
iiiiiiminiir'""1'""'','",'"1 ""
DH8KCTOItY OF ACCOLNTANTS
CcrtUied VubUe Accountants
LAWBEKCT3 E. BROWN &CO.
K REAL ErrA-TrE TUVSV SutLDIXO
iSUKNt & .SM.AKMAX
THB . j
$5,360,000
City of Philadelphia 4 Loan
DATED JANUARY 3, 1916
DUB JANUARY 1, 1916 INTEREST PAYABLE JANUARY 1 A.NU JfLV I
Free of All Taxes in Pennsylvania.
Free From Tax Under Income Tax Act of Congress.
Legal Investment for Trust Funds.
Safe Investment for Personal, Partnership or Corporation Funds.
Readily Salable, and Always Available as Collateral to Secure Loans.
Bonds of the City of Philadelphia enjoy a high investment standing. Tliey are
owned largely by savings funds, trust estates and conservative institutions. Tliey are
a particularly safe form of investment, giving absolute security of principal and certainty
of income, making them very desirable for those who wish to be sure of permanently
safe investment of their savings.
May be bought in Registered or Coupon Form, as desired, in denominations of
$100 and its multiples. Sealed proposals will be received at Mayor's Office until
Friday, December 31, at 11 o'clock A. M. Bids must be on form which may W
had on application to Mayor's Office, and must be accompanied by certified check tor
CCK, nf not- troliiP of rhp nmnnnf nf Innn hiH for Tha i-irrhf ic rocorirAr, Iw lllft Wider"
signed to reject any or all bids, or to award any portion of the loan for which bids man
De receivea, as mey may aeem oest ior me i iterests or tne uty.
Full descriptive circular furnished on application to the Mayor's Office.
RUDOLPH BLANKENBURG, Mayr
JOHN M. WALTON, City Controller,
MICHAEL J. RYAN, City Solicitor.