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JSVJEKI&G- LEDGER PHILADELPHIA MONDAY, JANUARY 10. l16'
FINANCIAL NEWS
i
SPEGULATIVE INTERESTS COMMITTED
TO BEAR SIDE AND STOCKS WENT OFtf
Lack of Inquiry for War Specialties Doubt Cast on
ai uie rrospects 01 a ivesumpuun 01 uivi-:
dends on Steel
rroi
."3
NEW VOniC, Jan. 10.
Thero was a strong suspicion In some quarters thnt much of tho pressure
fXrted In lhrt ntnrW mnf-lr,t nffor Mm nnpnlnir iviki n mnttnr nf tinrnnnnl emm.
ortlon and Connected with disappointment over the result of tho New Hrtven
,Ulil. Once before1 when Administration matters wero WTonrj with William 1.
tlockefellcr, stocks In which that financier was Interested were tinder pressure for
a long period, nnd St. Paul lias not yet recovered from tho four months' liquida
tion of that stock In 1910.
j The Qary statement was also supposed to liavo exerted nn Influence on
ndVVostsrn sentiment, and Western houses were heavy sellers of stocks nil
luthrough tho forenoon, helping force many substantial declines. Statements
about uncertainty over nn lncrcaso In tho American Smelting dividend had a
ifjpeclal Influence on that stock, but the change In the market tono was
8 undoubtedly forced by sales through houses like R. II. Itooley & Co., C. IX
Harney & Co. and A. A. Housman & Co, who nro looked to for vigorous
assistance on tho bull aide Instead of supplying stocks when decline occur.
"With all tho speculative lntotests committed to tho bear side and some
,qf the largest houses In tho Street fairly supplying stocks nt concessions, thero
was little chance for the stock market to make any recovery In tho afternoon.
L United States Steel common wan traded In on n large scale with tho offerings
tMf ' c.w.-on ui Luc ucniaiiu KHU null BlUVft IIIHMU 11 &U1 Mll'l IU13, nuillUK
Xlown to SS'S, while American Smelting, after selling ut 107, wns In better de
mand, moving up fractionally. Tho war order stocks showed a Inck of Inquiry
nnA at times dropped from fractions to cover ono point between scales. Tho
Street generally regarded the situation In this group of stock as a most tin
,avorablo clement In tho market and It was thought that expected liquidation
of outside speculative lines on a largo scato Is probablo beforo the present
movement onds. Tho temper of tho Street, howo,er, wns shown by tho fact
that doubt was cast on tho prospects of dividend resumption on Steel common
at the meeting on January 25.
r.
Steel Statement About What Wnll Street Expected
A gain of 616,733 tons In tho unfilled orders of the United States Steel Cor-
poratton was about In lino with expectations In Wall street. That tho cor
poration, after showing an Increase In orders of approximately 1,850,000 tons In
ri-October and November could follow with another of more than 600,000 tons
might well bo considered remarkable. Fore tho three months, October, Novem
ber and December, therefore tho gain In orders amounted to about 2,450,000
wLons, or more than sufficient to keep tho mills at cnpaclty for over two months.
It Is generally estimated that tho output of tho corporation Is at tho rato of
0,000 tons a day, and figuring on 25 working days, the orders coming to hand
t during tho past month must liavo been nt tho rate of almost 75,000 tons dally.
In this business tho railroads wero Important factors. As the production of
the corporation Is estimated at nearly 15,000,000 tons a year tho company Is
"ft'ow earning nt the rate of more than $145,000,000 a yenr over the average at
,hla tlmo last year.
No Let-up in Demand for Copper
J" No abatement In the demand for copper Is discernible In the trade. I.end
J Ing producers and dealers report tho market strong, with soles nt 24 cents n
pound for "regular" deliveries. By this Is meant shipments In April nnd May.
For any March copper, higher prices nro being paid without compliant. Do
mestic consumers are still tho largest customers and nre taking the metnl ns
Offered, Indicating an anxiety to get all tho supplies possible. The price Is
receiving little or no attention nnd this has caused dealers to be careful In
f,jhstrlbutlng what they have to sell.
New York Stock Sales
AlasVa Juneau
AlMlts OoM M
AllH-CnalmcM Mte
AllU-Chalm Mfc pf
Am As Chemical
Am nect Sugar
Iel close.
OK
25!
20'f
81
70
OS
Am B S & F t.102
20)1
20JS
70J
70X
(UK
20H
27M
70
085i
00
m Cn
m C A F
m Cotfon OK . .
Am Hide A I. pf..
Am tco Securities . .
Am United . .
Am Unseed pf
Am Locomotive
Am Malt .....
Am Smelt A lief
Am Smelt & Itef pt
Am f mjlters pf A
Am Smellers pf II
Am Snuff , ,
Am Steel Foundries
Am Sugar rteflnlnj
Am Sugar Itef pf
Am Tel & Tel
Am Tobirco
With. taw. Clow,
D? nf OH
25i
27H
70
08
OS!
102H 102i I02M
f)2Vj WH tltM
07U
55
53
2.5f
22)4
40
03!
8M
08M
65
53
25
221
40
G3U
8H
02! i
. 7W 7UI
. 60 55
. 54,'f 63!i
20 ft!
22M Mi
-10'f 40
. OOSf 00
.110' llfj'f 107.'f 107H
11.1' 112! 112 112
. m'( 113'. 03 03
. 80!f f-0 a"! nj
.I4S H8!. 148K 1483
50' 6S5i 60U 50!f
I15 116)$ 115 115'f
118!i 1185 11! 118X
127J 128'f 127'- 127!f
201 2tt3)i 202U 202K
WHEAT IRREGULAR;
LONGS WERE SELLERS
Export Situation Not Encour
aging Millers in Southwest
After Supplies
Am Tobacco pf new .107' 10S 100) 107
"GURB MARKET
" TURNED HEAVY
ciCurtiss Aeroplane, Dealt in for
':' First Time, Was Strong.
Offerings Liberal
"NEW YOHK, Jan. lO.-After n gener
ally steady opening, with trading fairly
nctlve In spots, the market for outsldo
securities developed considerable heavi
ness on more liberal offerings, "which was
dielped by traders. There nerca few cx
"cbptlons to the rule, however, a number
being manipulated to a considerable ex
tent by Insiders.
Curtlss Aeroplane was Introduced for
, the first time and mado n sharp rise
from tnc opening of 7 points, with only a
Alight reaction. Cuba Cane Sugar Cor
i poratlon was another new one, nnd moved
-up over 2 points In the Initial dealings.
jV.pole Engineering and Machinery ruled
firm on all transactions., Hnskell & Rnr
ftejr Car declined over a point. Marine
atocks were somewhat irregular.
Mldtale Steel, nfter n show of firmness,
eased oft 1. AJax Rubber moved up a
point. Dutto Copper and Zinc developed
more activity at an Improvement of VO -
..Manhattan Transit was active and rose
lo a new high for the movement, I'eer-
)ess Motor was steady nnd moderntlvcly
( J9tle. Oils were slightly lower, with a
..fairly good Inquiry for Cosden.
II!,!. Allied.
Ajax IluDPer
lirltUh-Amerlcan Tobacco old, .
llrttlati. American Tobacco ngw.
Ccnidlan Car nnd Foundry.. .,
Chevrolet
Curtlu .. ,
Cuba Cans Huicar ,
I Ooldneld Consolidated
1 Uendee Manufacturing
International Marino
International Marine vref ,
New York Bond Sales
tavonn Anclo-Pr I. .'.
.vhki Amcr .Smolt See
:irno Amer Tol clt it .
.tm Amcr Tel conv 4i. .
H Amcr Tel ct 4'j
iikxi Ann Arbor 4s . J. .
SOiMI Armour Co 4'- .
MK1 Atchlimn Ken 4a...
ism Alchlunn m.I 4s.. .
400(1 'Arjtentlne ."3 ... .
1'Oim) Allon Cf I.Itip 1st 4a
lnoon Halt & Ulilo la .
l-.'IdOO Unit ft tihlo cv 4V,
loon It.tO I' I.BtWV 4f
Kkui Holt & O Swn .IHa,
tlmo Hrookn Hi, Tr .,. .
nooo nrookn lti Tr .is 1IUS. ,lon
lll llroilt I'n Oa 1st r...lirl!
iu1
HlKh. Imv.. Cloe,
1MI
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HTV
11. Vi
III.
' 1
llKIt
noli
H41,
KfnCt CODDe
l.ehlrh Valler Coal Bales.
lillagma Copper
tMiuconJ
-Mldvale
Mlpliilnc
Otis Elevator ,
ntu Klevator pref
I'eerleu
"Pen Mar Ord
"Itlker-Ilegeman
Bterllnc Oum
bubraatlne ,..
Tnbacoo Products ,.,..
L'nltei Pront new.,.,,,,.
.World Film
i Whits Motor ..,,,
lYukon Uold
71t
.. 14V4
. 13'4
1 ,
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.. r.n
.. 4"."i
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111
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211
21 lj
n.-,vj
hi
iix jn.rr noch . i o.
ih) (-.11 (ins & i;ico ...I
MXIO Cent J'ae 1st 4
lniKm rhili npper 7 . . ..
.1000 Clips A. Ohio c 4Ks
2IHK) Che A Ohio 44s IML,
7.l(X'0 dies . Ohio ,1s. . UBS
liliWKi rhl 11 & Q joint 4.. .
liOlO Chi M S. St Ken 4 li2Va
2IOOK Chi M .VHP cv r,s 1H
2H000 Chi M S P CV 4Us.im
uhvi Chi M . St P ep ,',s im
1iliO Col Mlcllnnd ct 4s ... 73
lOUl col K: Soutn 4-iS . MP
mkio Del & Hud aim As r p
1H" Del & Hu.l l'i
r.O) Hen ft 11 O rid fts. .
1IK1 nrle (ten 4s
i r inu 4s eer A
ZttHI Krle conv 4s ser II..
:tuil Krle prior Is .. . ...
41 Oil (ie Klec deb 5s
llini (It Falls P Sa
70 Hud & Man In 5s....
2(t) do rfd As
:mO(l Ilick Val 4Kj . ...
Iinoo in steel deb 4Vii..
2iX) Ins Copper cv Os ..
1m(XI Interb Met 4'is... .
70. Interb It T ref :.s..
riflo Inter Mer Mar 4i,s .
41KOO do ct 44s ....
lijam intern tm Pump lis
lnnf
107LJ
ir
tilt,
hi;,
rei
112
lis
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inn".
KK1V
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7iw; 7I.I 7ll
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TT-
Financial Briefs
Because of lame war orders for rubber,!
witn wnicn to urnin ino trennea in ma
t war zone In Uuropo. the Electric Hose
and Rubber Company, of WIlmlnBtonpls
-enlarging Its plant.
The 17irst National Hank has been ap
proved as a reserve agent for the First
National Sank, of Weshoppen, I'a.
Ledard Ilcckscher was today elected
a member of the board of directors of
trie Philadelphia Trust Company.
4(K Japanoo new (1 8 4'Ba 74
4IKIO Jaiunese Hts ... . V."i
.nm do n 4'4, sn
:Nl Knn City So it . U't'j
20 Ijickil Steel Sa 11I2H.. list;
Hil'Oil do .Is 1IHO 7,
2 KI Lk Sh deb 4s KCt. . . PHI,
110.1 do deb 4s iu.il .. M
2X) 1.1k HJITi 12V1
lmm Iirillsnl .Is llmvl
20.1(1 do 7 12IU
lll I.OU1S A .NDStl 4S .
.H0ii Minn St ! H 3 M 4s
lUMfl M X. It t 1st 4s . . .
((s do 2d 4s
uicii Mo l'ac its
1ImkI Mont Poner .la
4Cno Nat Hnam fie Htp Ss.
.'tlHXI NnsHHU Ilc 4h . .
2iKKl N V Air Drake (la
7CKWI N V Canal 41,s .
52mio N V C id
AMXI S Y r & II .TJa .,
2(iOO do 4s
7lmi do 4Ua
loixi N V City 4Ua lfnv,
UOOO N Y llwy ref 4s .
loionn do adl Sa .. .
2000 N Y Tel aen 4 'la
nooo Norf & West 4s .
2l(in Nor Pac prior 4s,
20CO Nor l'ac aen 3s..
7llFtO I'clflo Tel Ss.. .
lorn l'enna en 4U,.
ni'C
inn,
.: au
.10071
. . W14
. . un
. . 73U
. Ill
1IK111
74'i
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111
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71
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1174
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117
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12V1
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124'4
Hl
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7ii;
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71
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117
Ill's
7S
74
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7(ni,
CO
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ns
73
ni 101'i
ILI lit
1IK Public fcrv K J Ss.. no
7O0O lleadlne sen 4s.
W,
2000 Hepub Cuba Cs 1U14.. HBU
J(N.4 HO fd 11S1 IHll,
nn
Km
I'-",
ni
KK.t,
74 ,
nsjj
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mi,
n.115
lon-v;
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no
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unw
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mi
100OO Hep Ir A U Rj WAi
(.ism mock isisna rra 4S. . luiti
1000 St 1, I M & 80 Ren Ss.1024 1D2W 1024
HOI St I, I M A. S Q 3s. .IOJ1J 1(12 in-.'t!
fl-hlSl U. f n..l C.. In T(ll III till'
111 ni iuii 011 tot ill iirj "'it "
1I1U1 L'uil.nns.l A I. n rl I -u I.U1' I'H I .'.
4000 South Hell Ss '.IImhJ
1000 soutn l'ac cv 4s mis
OWI
3416
du cv ret I o Ss.,.,,lU7
7m South l'ac rfd 4s. t
(4100 outh llwy aen 4s.
lism South Rny con 5s
1OO1) Tsxas Co tls...,.
ismo Third Ave new 4s..,
VfOO Third Ave Sa
( in' 8 Hubber Os
ll)(VI I'U S Steel Ss .
IdOO I'nlon Pac 1st 4s..,.
10IS1 I'nlon Pac cv 4s....
20110 t'nlon l'ac rM 4s,.
Additional securities of various com
panies have been placed on the regular
list of the Philadelphia Stock Exchange
jg follows; $133,600 American Telegraph
and Telephone stock, 1600 American Mill-
inff stock, J 101,200 Philadelphia Rapid si.vsj.ooo lust' Monday',
.'-Transit, vot tr ctfs. maklnn total P. It. T.
rating listed i.',S33,fM; JJ31.C0O Lehigh and
.Ke,w England ltallroad general mart
nfiage S per cent- bonds and 1100 American
Gas and Electric Company col tr. 5 per
tent, bonds. There has been stricken off
the regular list UW Electric Company
.of America capital stock.
UOi.
71 i
lilt
1 0.1
. M'i
107
104 ?,
. H7
ss
20i Itn Itwjs S y 4s 41
7(inn Vj rjr Chm 1st Sa... 1ISM
SilOfsi Va ttwy Ss.. usvi
27i Wab.P T 1st ct 4s. . 3
411 HI do 2d , , , Ts
4X) Wt Md 1st 4a. .. 72
?oiin Wlscon Cent aen 4s. . 67'i
rntai sairs. o,iuv,uuu, compureu
"i7
K'rti,
noji
1117
10H4
104
071,
ICIiJ
nov;
4M,
t!S(
7
SIM
7HV5
l.Ulf
iri
ion;
nos
IK
10.1
ton
M(i
107
jmt,
101
1174
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41
IKHt,
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874
Willi
'TUo Intercontinental Hubber Company
plana to resume operations during the
pent month. The plant at Torreon, Mex
ico, has been closed since September last.
Improvements In general conditions In
Jilejleu leads to the hope by officials that
when resumption of operations starts It
will be on a scale considerably above
thai possible at any tlmo slnco 1'jlJ.
-Samuel T Wagner was elected a
"director to succeed the late William Hun
Jier ol the follow bur subsidiary railroads
of the Philadelphia and llcuillns Hall
way at the annual lockholdcra meet
iqg today: Washington and Franklin,
Cliiimokln, gjinb'iry and Lewlsburg;
Allentown, Nortlteaat 1'ennsjlvanla and
!Jtat Jlahunoy
. AafJiracIte C"sal Stocks Smaller
The stock of snlhraite coal at tide
4 ,fiU Kb p- ilus i)0iitta on Pecemtxr 31.
i-JWV. i,us iJ,iW tons. a. decrease of 51 3d
-.? .. Mb !. 1 .... r-1 A ftt hr.iV r.rt Nf
.'S.4lu.Mlu TO 1V(? lUltluiOW
.. ..... ,.-
Advance in 'Crude Oil
HOUBTON, Jan. 10.-The Gulf Pipe Line
Company posted an advance of 10 centa
a barrel In Gulf coast crude oils to meet
the Texas Company prices. Schedule now
Is: Spindle Top, 8J cents a barrel;1 Hum
ble, Patson. Saratoga and Vinton, 50
cents; Kgerly, TO cents. The Gulf Pipe
advances In crude oil met the Texas Com
pany prices only on the Vinton srud
Texas price for Humble remains at TO
cents, but will probably be advanced to
SO cents this week. Healdton (Qkla.j
crude has been Advanced & cents a barrel.
t
GOVERNMENT BONDS
2s of 1Q2U mistered
2a of luto cuuiXMi
Panama 2s, rctsteied
!anairui 2s. lu.t, registered
Panama new 3. retiterei
Panama new Ss. couiion
a ut von, registered
4 of lir-'i. resUtrred.
la u l& couaost
1IUI. Asked.
Will ..
. uu .. '
. . n
. PM
1014 .
,.lie
not;
BANK CLEARfNGS
llanit. cfaaiincs today compared with jcorre
sMUlIoz day Ut tuo ycats.
lots. 1D14 lm.1
.iMiiT.ns m.uii .-,ii Tst,tm 41a
wjw 111 4.un.2s2 stiIrti.tiw
3.7il.-.vj m.n;i 49S'a
WSU 5AS2S,W! S-J,l.43'J
nostna ..
PlU lja.
XtW Jflf
CUcaz
Am Woolen
Am Wool ir r
Am Woolen pf tr r
Am 7. U & Smelt
Anaconda Coppor .
Asjorhtcri Oil
Alch T A H F
Atch T & S F pf . .
Atlantic Cont Lino
llaldnln Ix-o . ..
Haltlmotc A Ohio . .
Il.vlllmore ,V Ohio pf
Ilatnpllu Mlnlnit
Ilelhlehem Steel ..
HrooMyn Rap Tr . .
Durni Ilros
Hums Ilros pf
Ilutto A Superior .
Cal Petroleum
Cal Petroleum pf .
Canadian Pacific
Cent Leather Co
Cent Leather Co pf. .
Chcsapeako & Ohio .
Chllo Copper
Cnlno Copper . .
Chtcaco (It Weitcrn.
Chi nt Western pf
Chi Mil & Ht Paul .
CMlSlPpf
Chi A Northwest
Chi It 1 & l'ac
Cltiolt I'ca A Co
Colorado Fuel A Iron
C'omputlnc Tab Hec
Continental Can . .
Consolidated (las
Corn l'roducls Itef
Corn Product! Hcf pf,
Cruclblo Steel
Crucible Steel pf . .
Cuban-Am Hticar . .
Drlaaro A Hudson
Ucn A llio (Irandu pf.
Dome Mines
Dlsllllirs Securities .
i:icc Sloraco Hat . . .
Erlo
Ktlo 1st pf
Kilo 2d pf
Fed Mln A Smelt . .
Fed Mln A Smelt pf .
General Hlccttlc
General Motors
General Motors pf . . .
Grcene-Cattanei . .
Goodrich II F Co
Goodrich II F Co pf
Great Northern pf
Gt N cfs for ore prop
GuBeenhclm Ktpln . .
Illinois Cent . ...
Int Acrlcultural pf
Int Ilarv N J
Inter Con Corpn
Infer Con Corpn pf
Inspiration Copper
Int Nickel
Int M M cf dp
Int M M pf cf dp. .
KanrC'lty Southern
Lack Steel . 1.
Laclede Gas
Lchlch Valley
Lone Island . . .
Lorlllard I Co . .
MacVay Cos pf ....
Manhattan F.l clcl .
Main ell Motors .
Max Motors 1st pf
Max Motors 2d pf
Minn A St Louis .
Mexican petroleum .
Mo Kan A Tex
Miami Copper . . .
Missouri Pacific .
Missouri l'ac tr cfs
Natl Cloak A Suit . .
Nat Enamel A S .
Nat Lead
Nat Lead pf
Nat Hy A M 2d pf
Nevada Con Copper
New York Air Urate .140
N Y N II A II .
New York Central.
N Y O A West
Norfolk A Westera
Northern Pacific .
Ontario Sll M . .
Pcclflc Mall
Pac Tel A Tel
Pennsylvania
Peoples Gas Chi .
Philadelphia Co
rittsburch Coal . .
Pittsburgh Coal pf.
Pressed Steel Car .
Pullman Co ... .
Ry Steel Spc ... .
Hay Con Copper ..
Heading . .
Headlne 1st pt
Hep Iron A Steel
in'j -MM 40 40
40 14,' 4HH 41
O-'I't" 1)2 02 02
C0 GO) 0Sf 6SH
W)J DDK Ml 80
.. 70W OO'j OS 0
..If)7U 107i IOOH lOO'f
iiox 00J1 m mh
naif in 11:1 it:)
. .114!$ 114
.. !). 03
3'i .I'd
41(1
S7)f
8,-iJi-
101
70W
:ts
i'i
iioh 111
otH 01
7fl!(
:
42.5
&0'
83)
101
77
:t5
07
180U 170)f 170K
MM Kl M
100)i 10ij 109'i 1IWH
n.j a. 04)1 04i
214 2-11! 24 h 24)f
Sflli fiSH 34H 64!"
Iff Wi I4H 141,
HO 30)5 :WH 34
.430
87H
. 80'f
100
7H'f
37 V,
70
131
MM
78" i
Mi
423
SOS
83f
101
77
33
07)
1()1 102
.135'f 133
.13.1 13.lt
. II)
73f
St!
IS
M
UKlJf 100'f
133 13.1
I8f
72f
fit
IS
8-1 'j
133
184
72) i
40U
4S
83
133
hi
72H
I0'f
4S
8'1
1134 113)1 142) 113
20)1 21 201 20),
ODi Oflt,' 0Hi 03
03(4 01 00'i 01 '4
109,'f 100 100 100
lf3'( IKIli 1M 13,'14
13.'15i 15314 1.VI1S 1334
22 22' 2H 22
ZSli
If) J
03
424
7?(
53
3 I'i
173Ji 173
400 103
11 1'4'
50't
73J
2'.
40!.
(ll'i
12! 1
57! $
5.3
33
50)i
HI
50)4
i'a
S'
I.V
OP,
41'.
57!
524
35
514
171',
4G'I
111
40' j
i
ISH
I52
li
ll'f
35
514
172
403
111
404
4
CHtCAGO, Jan. 10. Wheat vtM Irrear
ulnr today. clolnf? lcent nbovo the low
est, nt II.23H. for May, nrrnlnst t.26, nt
the end Saturday, but ending nt the
bottom, for July, nt 11.1755. nRntnut $1.1SM,
nt the cloe Saturday. Heaviness devel
oped, on selllnir of lonrr stuff, brouRht
about by accumulating stocks at various
centre, Knrly the mnrltet was stronK
on vlBorous buying by Dome of tho larger
bull house1) and nn ndvnnce nt Liverpool,
iMny rliluK to I.27i nnd July to $1.19'4.
.V lendlnrr flrm received n cable from
Arsentlna rstlmntlnr the exportable sur
plus of thnt country nt 130,000,000 bushels,
nnd prices nt Buenos Aires were off H to
1 cent nt the stnrt. Among the sellers
here vns a Inrrre commission house that
has been bullish recently.
The export situation, for tho Immediate
future at least, la not encournrrlnB to the
bulls, nlthouRh mnny nre holding on to
their whent on tho belief that ultimately
Europe will havo to replenish her sup
piles from our bins. Fenrs nbout n cold
vvnve In tho Northwest thnt appeared to
bo worltlnR toward tho winter wheat belt
wore nllayed by prospects now coming
abend of the fnll In temperatures.
Clearances from tho senbonrd were
about 1,000,000 bushels. Millers In tho
Southwest were seeking supplies In tho
Northwest. It wns lenrned that l.COO.000
bushels of North PnclOo coast whent wns
being sent to the Hast. Some of It has
arrived here nnd grades high. Whent
from Western Cannda Is being brought
Into the United States. Upward of
1 000,000 bushels wns bought In tho Inst
week, to come here. Tho visible supply
In the United States Is 65,818,000 bushels,
nn Incieaso of 2,615,000 bushels for the
week
ltenllitlng caused a reaction In corn,
nfter firmness early. The upturn wan due
to dnmp weather In tho belt, which wns
couned bad for conditioning or shipping
the now crop.
1'rlccs at Liverpool were strong. The
vlslblo supply In tho United States In
creased 1, 570,000 bushels for the week, to
10.495,000 bushels.
Protlt-tnklng by longs sent oats down,
nfter the market hnd illsplnvcd strength nt
tho stnrt. Tho Inltlla untourn wns due to
n general rush to buy. The vlslblo supply
In the United Htntcs decreased 3S1.000
bushels for tho week, to 20,703,000 bushels.
Lending futures mimed nn follows
K.ilM's
wrpn. man.
1.21)14 1.27'J
I.IMi l.lli'j
It livery)
"MS -OK
7M4 7SH
Sales in Philadelphia
11 Am Ilwrs pref. MvV
14 uun a- nus 1 o "
7S Brill J d. 47.,
30 Cal Petrol ....1 SSVi
2100 Cambria steel . 7SV
K Corn I'rod
148 Klec Btomito... CW
10 Krle VA
CO "Jen Asphalt.. .. 84
15 do bref ...... JIJJ
248 Ins Co N Am., ifllj
w -no .......... .1,
02.1 Ijike Bud Corp. 0
4 LAZHtHH OIIV ... '
!2 A?.J"SL.:mm ?.?
4.1 Mlnehtll M
20 North rc
Ml Penns mt .... r.n,
( Pa fis.lt MfK ..1O04,
loo phiu Co ...... 4341
z.v . no cum pret n (i
41 Pnll Klee ...
PS'I P It T tr ctfs.
111 j'nita ttbc ...
Bt. close. Ulirh. Iw.
I UTl
40
411
Mi
42k
n1
Close.
MM yj1
II'
40
&4
is
48 .
-an
sou
7W
S4
m
la x
vAU.
M M il
7n
110 IteniilnR BlVj
a i rio Vft nr.r .. ..
lt3 Ton Pelmont
2.1 Ton Mlnlmr
.20 IJnlon Trac ,
tot t) o I ,,,...
tun', if a Sieel ..
20 W Jer SS
7ft CMmn Jtr Ann, . K.I
40 York Utov nrsf .14V.
nx-dlvldenil.
Total sates, lt.SBl slinres. rompsred with
11,802 litres last .'Unnilaj'.
DONDS.
Will r,(l'i .MJi
ra ? s
41M 4H4 41ji
ifl i.1 ""
M 21 20. 20.,
) '"i" A'.'iT
8214 81' PlJ
M Jit?. 42t4
i 4 4 1-10 4.4
4.V 45 4S 4V
R7l, St S7", M
1K st4 ?o K ,
noii mfli nn'i ni
S4 l'4 j;
sa .in 35
Last prev,
enie,
tlCOOO Allen Vol 4s... IKI
.11111 Am ( rtr I-.1 .s. w
Snis) Ih N cons 4U.lo-.t
:i(i(K) i.elt Vnl sen U. Ill '4
noon ,io ren 4V4s... .loi
nnoo trfh Vsl onl Ss. 10514
2IKIO North I'a 4s.
lnwi Penns Oen 44s. 101
iiOO I'lilla Co cons 5s Wi
2000 Phlla i:iec 4s... SI
l-.onn Itesdlns iren 4s. in
eooo sph'Am Ir os. .10211.
.riht 1 n llwy Inv 5s 7.1
inno Welsbnch Co 5s. OH,
UOOO York llwy 1st 5s 01
lllnh. Low. Close.
IKIV4 1'ii'S "'
iwi
K-.'
112
102
10VV,
.miS,
loot,
nn
Mi,
nn
H2
,i
no
102
vl
1(2
ir.r.
18V
i
S2M
115
102
14
in(4
ui
U5M
014
00
102
n2
1112
lovs
101
l0
M'i
115
I112
7.1
H54
114
INCREASED DIVIDEND DISTRIBUTE
ENCOURAGING TO LOCAL IKVEST(
Many Companies Declare Higher Rates as frew m
Begins Insurance Company of North Amcr.,'nl3
Announces Extra Distribution of 3 Per Cent.' "
Totnl Antes, (08,400, compared with $50,050
Mat Jlonilny.
Local Bid and Asked
113!. 1133i 113', 113S
1L'3'.' 123, 1211, 1J4',
IIU4 4S1 4S'i
-M'a LM LM
lf)S
01'j
110
774
47 i
II),
.. saw
. 107
.. on1
.lOS.'i
. . L'O'i
. 7fl'i
. . 4t;;,
. .2(U)4 201
.. '.'Hi. au.
. . 7!l!a 7!)'i
31 'i 31
. Ko'; M'f
..103' 4 100
.. 811 i M'i
. . 21 20!i
180 1M
.. CM', fifi'i
..130'i 130
, i'i llj
UOJi
.. fifl
.. V2H
121
. O'l
. 3SJ.
. Hi
Mi
107i WVi
SOU
50
121
12
0.
10!)
20' (
77'f
40',
202) i
20',
77'4
304
h.1'4
103
Mil
20'i
181
(10'i
130
OHM
Hlii
33' i
12'i
01
100
ait.
77'f
40s,
202i
2()'f
77 h
30'i
-3'
10.3
Ml'f
20'i
1HI
C0U
130
lH
Ml'.
C3'f
12'f
115), IK'S
(i'i Wi
lient
Mny . . . .
.lulv ..
I'nrn Inew
Mnv
Juli
Oats
Alny
July
ljinl
.Innunry ...
May . . .
July '
Itlbs
Innunry ..."
nv
tiu.
1.241.
1 174
Clone
I.S1V
1.17'4
i .t-e.
1 2
l.isi,
71
Pork
.limunri
May ...
Hid.
411
47
in.22
. . 11150
!()..-
...tn 12
10 NI
. . . 1 M
III Ml
tAekeil.
411
47'4
4i
17';
4xn
47'n
io:
10.1
10.45
lit. SO
1SS-,
III 5(1
10.17
10.57
10 57
10.75
10 22
1(1 47
1 10.(12
10.57
10 75
1175
10 2J
4S1
47
10 07
1(1.15
10 17
t10 40
10.72
is r,2
111.15
COTTON STEADY AT START;
LIVERPOOL UP 10 TO II POINTS
284
0
371.
fl'I
."i'i
70!j
27
OS'j
Itep Iron A. Steel pf ..109
Itoclc Island Co pf . . .
Itumely M Co tr r . 13
St L. & S K 2U pf . . 7i
Seatioanl Air Line . . IS
Seaboard Air Line pf 39M
Sears Itoo i. Co . . IH5
Sloss-Shcff 4, I Co.. 0H4
Southern Pacific . .IftUJ
Southern Ily 23 M
Southern Ily pf . ... KHi
Standard Jlilllns pf. . . 80
StudebaWer Co 100
Tenn Copper .... 00)a
Texas Co .... 228
Teias & Pacific ... . 8Ji
Third Avenue .. . 02
Union Hag iv. Paper.. 7U
United Clear Stores. . 0)4
United Cigar Stores pf ll'i
United Cigar Mfrs .. fl2'i
United Dry Ooodj pf. 7l)f
United fruit,
Union Pacific
Union Pacific pf
U 8 Ind Alcohol , .
U S Cast I P 4 F ,
United lljrs Invest .
United Hys Invest pf
US Ituubor
U S Hubber 1st pf
U S Steel ... . ...
U S Steel pf.
Utah Copper
Va-Caro Cbem ., .... 4SU
Va Iron Coal & Q..,, 62
Wabash. ., 10i
Wabash pf A..... , 4SH
Wabash pf U , 31?
Wells Fargo Express
West E &M . ..
Western Maryland,,
Western Union Tel..
Wejman-Ilruton pf
Willys Overland
Willys Overland pf
Wool or th F W Co.
Woolnorth pf
ai
.IV i .175,
5 5H
5'j 5'i
70'. 70'f
2S 20)4
70', (1SU
lll'f IU'4 114'4 114H
0 8t h't KH
15Ji 10 I5J, lflJi
It'J'i 140 140
. i uli i.i i5)i
.110), 111 lOOvi 100!i
. 20'i 30 30 30
121 121 120' 120i
m HOlj 115), U5H
10'X II 10 if))
. 12'. 12 12 12
41' II 41 tl
50) i .VJ fiS'S 50
.110'j 1104 110H 110) i
. 42Ji 42 i 42'i 4-iH
. 3.3 3,'i'f 3U' 34U
109'i 10S1( I()S!J 10.SU
. 03) , KiH 02! i 02! i
.105H 10.si 105
. 42 41)' 40)
. 25VJ 25). 25
82) i 82)
43
mi
100
n't
7'.
17',
30
184'i
01S
43
53
105
40) i
25
8li
43
51 H
109
'i
13)1
7M
173-s
39
81'f
43
51 !f
109
n
13'
7!t
17
39
1K1), 183)j
(10 CO
10.1U 10,'W lD2lf
2iH 2.1'i 23)i
U.1JS 0.H5
80 bO
15915 155
01K 59! i
220)i 223
8J 8J
7!f
0)i
ll'i
(I2)f
US
Ol.'i
lit
M
nv,
m
7l)S
03't
80
1553 i
00
22J
8!i
0.1,
7?.
UU
11!(
G2'f
71)s
140 145! 143'.' 145'i
13S)i 138H 137) 138
83(( 831. KJ k,
130Jf 13H 128), 129)f
24 24)i 24f 24i
19'S 20'f 20)i 201i
36W 37 30 3C
S8VS" 57 53 55U
109H 109H 109)i 109h
.. oi)i Bn ao;,
..U7K inn in
605f SOJi 70)1
48)S
61
10'i
47H
32)i
47
01
101f
47J$
31
hfl
U7'i
79),'
47''
CI
1G)
47)i
,Hj
.13l' 132)j 131K 131U
. 0SH GHH CO), bOI,'
. 31)( 31!i 31) 313
. S8Sf KSJj HHlt 88i
111 114i 114),' 114),'
227)a 222H 00 2'
lll'a IUH 1UH lllli
12i 122M 121 121H
12-H 123)j 123)i 124)
Total Mies, 688,(00 tharea, romuared vrlth
1,015,1)00 .lmre lut Monday.
RATES FOR MONEY
Call
la
5WU4
!(( .,. - 3V581
Commercial paper. 3 to O month,
pbla. 51iil ut cent
S'eur York
Phlladelphli
Ikrtton . .
s
PhlU
RAILROAD EARNINGS
PACIFIC COAST.
1013.
November iron J0.Vt.uT2
Net 1T4.274
live month' itom.. 3.2M,7iw
Net C04.14J
ILLINOIS CBNTIIAL.
December iom . t5,tm.2U9
Increase
1154 una
84.VJ8
244.344
iS2,8M
J731.S27
YAZOO AND MISSISSIPPI VALLEY,
aiai.iis
December Tro I1U2TU75
fllltlAGO AND ALTON
Fourth week December Sll..vg tx 870
Frcan uly I S.I4RH0 WAU21
New Orleans nntl Foreign Interests
Bought October '
SCVV YORK, Jnn. W.-At the openltiR
on tho Cotton I.xcliniiRO thli moniliiK the
tone wns ntcndy. Jnnuary shouliiR nn nd
vnnce of 10 points, with other months
wero 2 to 7 points higher. The fenture or
the early tradlm; wns onyltiir of October by
Xevv Orleans nnd forclKn interests which
created n belief mound the lln thnt a
considerable short Interest existed In that
option. Operations In the other positions
were mixed nnd business wns only fnlr In
volume. The ginning report show Ins
10.643.7S2 bales turned out up to January 1,
was without Influence.
After tho Initial rlse the market became
very quiet, fluctuating narrowly. South
ern spot houses were buyers of March.
Liverpool cited advances of 10 to
11 points, or double those expected.
I'rlvnto cnbloe stated that tho market
wns very Btcnav, with offerings limited.
Small nnd widely scattered precipitation
wns slioivn In the weather map this
mornlns. Temperatures were about nor
mal. In ocean freight circles It was stated
thnt $2.50 had been offered for a lnrgo
amount fo cotton room out of New York
to I.ivrepool, hut bidders wero unable to
secure any space at that figure. Interior
stocks fio the day Increased 4000 bales,
comparde with n decrease of 2000 bales
Inst week, nn Increase of 8000 hales last
year nnd 1000 In 1914. , A feature of tho
Interior movement wns the very heavy re
ceipts nnd shipments at St. Louis, reeding
demand from Canadian and Northern
mills Arrivals of cotton nt New York
todya were heavy, aggregating 10,517
bales, of which DS76 bnlcs wero consigned
rtnMtrln 1104
uiin A OUH l C ..,.... -41
dn prof WW
Cambria Steel 7.VS
i;iee Slornire (14 lj
General Asphalt -'nt,
ilo pret 71',
Kejstono Telepbono .. 144
iln t c .. ... 14U
uo prer
Ijiko Sun Corp
I.ehtRli NftVlKntlon .
Mhlfth Vnllov
l-fhlnh Vnlloy Trnn.
iln prrf
Pennio Iwinln
Phllu Kloctrlo
l'lilln Co
do .1 per cent. nfd..
ilo II rer cent. pfd..
Phllu It T
ilo t c
Ite.iillnir
Tonoinh Uel
Today
Hid. Ask.
ill
42
(31
II
7',
SI
:ih(
fwv
21).
, 42
, .'III
, 41
20
20
M)4
4'-
3JJ4
:t
:h
Tl
14.4
14.
70
."!
71,S
si;,
is';
;i7
41
20',
20'i
S2
4 0-10
Saturday
ni.l. ak.
1134 114.H
:injt 4n,
i iii
71.
l.4
14S
"".
Illn
.ISI4
r.nl,
2SW,
41
.17
41
"?
I'M
;
!
2SV1
424
,4,:,J
20'a
u1
,S2i
4
4d
The year 1916 made nn encouraging be
ginning from the standpoint of tho In
vestor In so far ns dividend distributions
were concerned. During tho past few
davs n number of Increased distribution?
were announced, some of which were of
local Interest. For Instance, tho Irmnco
Company of Pennsylvania, In addition to
the usual quarterly payment, decalred nn
extra of 1 per cent, on tho second pre
ferred. American nolllng Mill Company
declnfed an extra of 6 per cent., . ami I ho
American Light and Traction Company
declared a cash dividend of Ui per cent, on
tho prcfcricd and a ensh Pment of 2i
per cent, ns well as a slock dividend of
2'i shares of common for every 1M out
standing. Tho Mechanics Trust Co of
Horrlsburg Increased Its annual dividend
rato from 6 to 7 per cent., while tho Gen
eral Motors Company went on n .0 .per
cent, per annum bnsis, nnd Miami Cop
per payed $1.25 for the quarter, against
11 previously declared.
Some prominent locnl companies from
which vnrtoin kinds of melons nro hoped
for this car nre the United Gas Improve
ment Company In the form of a stock
distribution, tho rhllndclphln Klectrlc In
the form of nn assessment nnd etrn
payment or possibly nn even moro wide
spread chango In Its finances, nnd tho
Electric Storage Daltery Company, which
It Is hoped may restore the old 6 per
cent. rate. There Is good ground for n
dividend declaration on i,i,.
mo,'ve common and also on Cr.
building shares In view ?.?"
finnt fttafLi At. . v (fife tiV
i
nal business these two iJi. .Ww.
.njoylng, and Brill's too 'SjW.
list. join j
Today the Insurance Commim, iV
America declared an exHiH,,,y
3 per cent, In nddltlon to t h e Z ,W -cent,
Bcmlannual distribution S,
plains the recent activity In li,. '
ndvnnclng quotations. Tod ,.nt
cash at 2614 and 27 nnd ei'd.1
26'd, n new high level" 'MIMm
4,C"' t&ZL'ZL? "T.6 !Mutw .
nnd only minor recessions . "
tered. The chief result wm I? f
curtailment of activity, the ir.E!,,!''
Ing to nominal proportions cL'S.
received support around 75 ,5"
States Steel under 87 The boM li
dull nnd steady. In tho lauK"
ever, tono became tvni, ..."!; w
down a dollar. In tin. v,-j j. ."'
block of 110.000 Alleohnnv n-iT-01
ever, tono became weaker. Ranii"'
sold off to 20 and Philadelphia P.T
declined rlcnrly three nolm. ni,,fl
block of JIO.000 Allcshenv Tl.4,
at 06V4, up GH points from the l,i!?i
vlous sale, "n
TWs wns nnnunl mectlsg dv tj
number of local corporations, Ineju4ii
vnnous iieiuiing suDswiarles. tlin &il
of tho Ilapld Transit subsMlnrt.. r
Fnlrmount Park Transportation ComwB
cx-
FOREIGN EXCHANGE
NI5W YOrtK, Jan iO.-Forelgn
chnnge qtiotntlons In the greater part of
tho llrst hour of business were entirely
nominal, ns some of the largest operators
had not received their cables. Such
figures as were available were largely
conjecturo nnd showed sterling nbout one
cent under Saturday's flnnls, making a
drop nf about three cents from tho recent
high levels. Quotations: Demand sterl
ing, f l.75,; cables. $1.75; tvnnc cables.
J.'i.SlPi; cheeks, lo.SI't; rclchs,nrks around
741c.
Up to tho end of the nrst hour the gen
eral market wns sluggish, without op
parent tendency. Ilntes were under thoie
of Saturdaj. In rclchsmnrks thero wns
some confusion of qtiotntlons nnd Irregu
larity. One prominent Institution quoted
mnrks nt 73, while n number of others
made n quotation of 74t4lffl8. Tho ex
treme low record In rclchsmnrks wns 73,
nnd It Is rumored thnt transactions have
been ns low ns 72". This Inst llgtirc wns
not substantiated. Other quotations were:
Demnnd sterling, 4.73'i: cables, 4.70. Franc
cables, 5.S.1H; checks, 3.SI'i. Ilclchsmarks,
7Hyft71(. Lire cnbles, C.b3; checks, COI.
Swiss cnbles, S.12; checks, 5.13. Vlennn,
j-.dui iiw. siocitnoim, Zi.MH23. Peseta,!,
19.1019.15. Guilders, UTifjIo. Itubles, 201
29.
In tho early afternoon the market
showed Ilttlo chango In sterling, hut
marks were strong and lire were distin
guished by a weak spell. The Inst men
tioned fell to G.Cr for cables and C.G for
checks. Itclchsmniks still showed' differ
ences nt 4.743 5j'7u; demand sterling who
quoted at 4.75 7-16 and cables 4.76 1-S.
In mid-afternoon tnu feature wns the
erratic movement of rclchsmnrks. After
reports that os high as 5'.i had been paid
In n special case, tho quotations shifted
bnck to t4 to ,4's. Sterling was not ap
preciably changed, nt 4.751,, for demand
and 4,76Mi for cables. Duslness wns light,
but the general tone was fairly steady.
",es. close. Open, lllirh. Low. I.ast
Jnnuary . ..12 nn u.4ii ij.1t 12.it 12 it
Murch 12.111 12.(1.1 12.M 12.14 2.(4l
Mny .. . 12.H1 12.HII 12.SS 12 77 12. SI
Julv . .. 1I0K 11.(11 11111 12,112 12.1111
Oitolwr . . 12.7.! 12.71 12.77 12.(11 12.KI
Diceniber ...12.71 12 87 12.S7 12 70 12.7.1
bpot .... .. .... li'.U)
Liverpool Cotton
LIVERPOOL. Jan. 10. Spot cotton was
In good demand at an advnnce of 11
points, on the basis of 8.29d. for mid
upland. The sales aggregated 10,000
bales. Including SOOO bales American. The
Imports wero 11,000 bales, Including 9000
American. The market for futures closed
barely steady at a net advance of ljj.4
points.
COFFEE PRICES HIGHER
-Outsiders
Sentiment Again Dullish-nought
NEW YOItK. Jan. lO.-Openlng prices
In tho coffee market this morning showed
gains of 4 to 13 po'nts from the close of
Saturday and during tho llrst part of the
day business was quite active. Under
lying sentiment wns again bullish, with
continued buying for outside account as
well as by Kurope, and while pront-taklng
sales checked the advance, the undertone
continued firm. The official cnbles lndl
cated a stronger feeling In llrazll, but
sp far cost and freight offers have not
kept pace with the advance here,
although, cables have been very much
delayed and sometimes as much as a day
late.
December
January ,.
February
March ....
April ... .
May . ..,
June , ,.
July .....
AUKUSt . .
Hepteraber
October . ,
November
ti,,,
Today's
openlnic,
. T.73
i 7)20
! I'M
'. i'.ii
', i'M
, T.ICl
, 703
Saturday's
close
T.(.UT.62
T 0047.02
T.ostiT.in
7.1IWI7.17
7 VlkMT.Sa
7 2MJ7.M
7-(0r,i7.:il
TjivsT.aa
7 ICV.r 7. 11
T 4Hi7 47
7 CO7 B2
7.3547.31
Provident'a Life's Prosperous Year
At the annual meeting of the stock
holders of the Provident Life and Trust
Company, five retiring directors were
re-elected. Following the meeting the
board reorganized and re-elected present
officers. President Asa S. Wing, In the
annual report saldvlri part: 'The year
has been a prosperous one for the bus
iness of the company. The amount of en
dowment and life Insurance paid for was
larger than for any. previous year by more
than $3,750,000. The total amounto t In
surance outstanding U larger than here
tofore reported by over $13,000,000. The
assets belonging to the Insured at present
market value now amount to $o6.673,743. a
gain of more than $4,500,000 during the
jear The contingency reserve bos In
creased about $1,500,000 since our last
rport fhe mortality experience for the
year baa besn pre-eminently favorable."
MONEY LV NEW YORK
NEW YORK, Jan. 10. The market for
tlmo money on collateral Is easy In tone,
ns reflected by tho relaxation In mercan
tile paper rates, but showB no quotnblo
change, rtntcs are nominal, at 2!vg2',4
per cent, for 60 days, trading figure of
2i per cent, for 90 days to llvo months
and 243 per cent, for six months,
The feature of the market for mercan
tile paper is an easier tone. There were
thought to be slight surfaco Indications
of this condition toward tho end of last
week. It Is somewhat remarkable to find
St. Louis, ordinarily tho highest market
for mercantile discounts, doing business
In fine quality paper as low as 3 per cent.
St. Louis Is usually 4 per cent, to 1 per
cent, higher than the other Important
tlnnnclal centres In Its rates on mercan
tile discounts. 4V fairly free movement
of paper Is reported at 3 per cent., ngainst
predictions some tlmo ago of a 4 per cent,
market, and IL Is believed that anything
extra choice with tho right maturity
could be negotiated at a shade under 3
per cent.
KSS UNION NATIONAL HANK
itj' Philadelphia. Pa.. Dec. 11. 1015.
The annual meetlnc of the stockholders of
this Hank for the election of Directors will
be held at the banking houfcs on Tuesday.
January II, 1910, between the hours of 12
in. and 1 p. m.
LOUIS N. SPIEI.nEnaER. Cashier.
DIVIDKNDS
INHUKANCE CO. OF NOHTII 4MK!tICA
23J Walnut btreet,
Philadelphia. January 10, 101(1
Tho Directors have this day declared the
ui.ua I Dividend of a per cent., and an extra
Dividend of 3 per cent., payable on January
11, ID ID, to stockholders of record January
Checks will be mailed.
T. 1IOUAHU WRIGHT. Treasurer,
ELECTION NOTICE
..ijXF'.ritAMiLlN NATIONAL UANli
ZIJ Uroad and Chestnut HtreeU.
Philadelphia. December 30th. 1013
1 The annual election for directors will bs
held at the banklne houae on Tuesday, Jan
uary lltli. 1016, between the hoars of 11
noon and 1 o'clock p. in.
li P. PASSMORB. Cashier.
ANNUAL MEETINGS
(T3S3- VENN NATIONAL UANU.
J Philadelnhla. Decern!,.. 11 io.k
The annual meetlnc of the stockholders
for the election of Directors for the cnsulnc
year will be held at the banklne home,
Tuesday. January 11.1910, between U o'clock
noon and 1 o'clock V, 31,
M, a. DAKBIl.
Cashier.
IKK UE CEMHAL NATIONAL UANli
OV VIULADELVIIIA
December 13. IB IS.
The Annual Election for Directors of this
Bank will be held at the Banklne House oa
luesday, January 11, Wl. between 11 s, m.
and 1p.m. WILLIAM POST.
. Cashier.
THE FAIIMEHS' AND MECHANICS'
NATIONAL UANK.
?hJ.',,,1!.,phU' J'Ln- 10'h. 191
The Annual Election for Directors of this
Bank will be held at the Banking House an
Wednesday, the litli day of January, 1918.
between the hours of 11 a. m. and 2 p. tn,
EDWARD BTOTESBURY LEWIS.
I Cailer.
UIHECTOKV Or ACCOUNTANTS
Certified Public Accoontenls
LAWRENCE E. BROWN & CO
lll REAL ESTATE TRUST BU1LD1NQ-
BURNa U tU'EAKUAN
LKHIOII VALLEY TRANSIT
' HAD A RECORD YEAR
Compnny Earned 2.40 Per Cent, on
Common Oflklnls Re-elected
ALT.ENTOWN, Jnn. 10 -At tho nnnurtl
meeting today of tho stockholders of tho
Lehigh Valley Trnnslt Company tho fol
lowing tllrcctprs nnd ofllocrs were re-elected'
Colonel Harry C. Trcxler, E. St.
Young, Harrison It. Fehr, Allentown;
Congressman H. J. Steele, nnston; War
ren .. Wilbur, South IJethlchem: Chnrles
If. Ilcan, John C. Dawson, Cleorgc II
Frnzlcr, Chnrles 13, Ingcrsoll nnd Edward
II. Smith, of Philadelphia, onicers: Harry
C. Trcxler, chairman board of dlrcctois;
II. It. I'chr, president; 13. SI. Young, vice
president; Charles N. Wngncr. secretary
nnd treasurer; C SI. Wnllcr, nudltor.
, President II. R. l'ehr. In tho nnnunl
lepoit, snys; "Notwltlistnndlng tho un
settled business conditions, the company
during tho Inst year has shown tho largest
earnings In Its history, and Is In a strong
er flnanclnl position than over before.
Tho surplus Increased from 5101.374 to
J.m.273. AH Items of maintenance nnd re
newals nre charged to nn amount equal
to 22 per cent, of the gross earnings of
tho railway lines, the brlnnco of thnt
account being set up to accrued de
preciation reserve, which showed a credit
qf $220,537 as of November 30, 101J."
The nnnunl report for tho year ending
November 30, 1113, compares with Inst
year ns follows:
inn.
11,44(1, ren
LESS COTTON GINNED ,
Amount to Jnnuary 1 Was 10,6il;j
Bales ,,
'WASHINGTON, Jnn. 10.-A r.Mi
the Census Bureau of the DeparuatBl
Commcrco todny shows 10,,78J ijjjj
nuiiuu, 1.UU111111H iuiiiiu ns naif
ginned from tho growth of 1915 tn j,
1, 191B, compnred with U.tU.HJ ffcr
nnd 13,347,721 for 1914. vltound ktln
ciuueu tins jcar iu,iuj, comparta
44.904 for 1915 nnd 94.2G5 for nil
Island Included 83,921 for 1916; 78,857 fr
nnu it,ou lur rjii
i
December Anthracite Shlpmeoti
Tho shipments of nnthraclte In i
bcr, ns compiled by the Anthracite!
of Information, nmountcd to 5,939,1(1 li
tons, nn increnso ri a.wx; tons, u t
Dated with December, 1914. Th i
shipments for tho 12 months of IMS,
Ing with December have amounted toil
122.W2 tons, ns compared with RjM
ions ior toe snmo pcriou in lulii
crense of 2,220,533 tons. il
l ni.-..
If.iR4pnirer rppnue 11.510.121
I'relKlit niul exp. revenue iei.20(l
H.o;
4II7.4M .14I.SI1
2.0"H,S7.-, t,Slill,OOi
Ll.in.si4 i.(i.vj,iii.i
-:t,.Vii 07.ini
s.vj.ins 7is.:i.,n
1 111.141 I'.-.'.IIIT
liSS.I'.ll Sll.2!IS
"Jl 2711 S-IO.s'14
111,171 .-.!.:! Ill
.'.0,711-1 4S.1M2
r.:i,.'is7 '.'iw.i.'o
llqunl, nfter nl'i nine for ."i per cent, nnnunl
illtlileml on (4.Ui'H,un lumulntlta prefcrriil
stock, lo '-'.1" per cent, eunieil on J2,liu7..'l."0
inmmnn stoi'... During tlio Inst fiscal enr
two i1lildcnil. nuitreBiitlnit J174.2SS. or :k
per cent., wero paid on the preferred stock.
The latest remlnnnual dividend wns 2'4 per
cent., nnil the preferred now ts understood to
be on lis full A per cent, per annum b.tsls.
I'OAer sales, elc. .
Total oper. lrcnue .
Open expense
Taxes
Opir. Income
Nonop. Intome ...
flross Income
Int. nn funded debt..
Itent lensed rnmls . .
vrrorl.. misc.. etc ...
Net Income ...
k Phila., Balto., & Wash. 3
i S 1st Mort. 4 Bonds J
! if Due November. 1913 M
' W, I'rlce on Application '
! II (
BAIt SILVER
LONDON". Jnn 10. Tho price of commercial
bar silver today wns 1-'(1T, pen.e
In New York bar ellver was quoted at RA
cents.
AUDIT
THOSE BOOKS
HEVERLE&HAY
PUBLIC ACCOUNTAMTS ,,
REAL ESTATE TRUST DUIIDINS
61st ANNUAL STATEMENT
OF THE
Saving Fund Society
of Germantown
and Its Vicinity
SchocI T - -rd Germantown Avenue
EREP 1854
RY 1. 1916
Interest Allowed i Deposits, 3.'65 Per Annira
Accounts May Be Opened and Business Transacted by Mail!
ASSETS
Municioal. Railroad and other Bonds fPar
$10,404.7501 5Sg.Q90.399.8t
Loans on Collateral 169,355.
Mortgages, 1st Lien on Real Estate 954,925
Real Estate Banking House 60,000.0
Cash on Hand and in Banks 813,571
Total Assets $11,988,251
LIABILITIES
Individual Denositnrs . S!in 74I4I 07 fn
Interest added for 1915 368,'274!60 ll,113,251j
Surplus $ 875,0002
Total number of Depositors 29,6S0J
We, the Subscribers, Auditors, appointed by
the Saving Fund Society of Germantown and Its
Vicinity, do hereby certify that we have examined
the above statement, and the assets therein named,
and find them correct.
January 7, 1916,
MANAGERS
"rancl Jl. Iteeves
John J. Henry
Horace T. 1'otts
K II. StrawbrttJi
Marriott C. Morris
Lewis W. Wlster
Uvlnxston 13 Jones
O M.
Wm. J. MontKomery
II. E. (Illllnglium
I-ouls C. Madeira
F. B. I'.eeirs. Jr.
Joseph U Woclslon
t'eo V. Massey
Wl Um W, Justice
Clark
Auditor ,
COVYBBS BlITTON
OSCAH W. WOOD
nnonoe j. flavell
WM. II. EMIIAHI1T
-VRTHUn II. JONES
OFFICERS
l-StlKaSTONB JO.VF8.r,Wnt.
tuviio it. tuoiiviii ir -'r -rt.. m
II. T. MONTOOMEIIV. Secy d.Tr5 j,iu
WM. N. I'RICII Asst. Secj, and Assr j
4 Groups of 5 Each
If In each specific group you will find the most
!cSc?Vhit Particular character of investment.
j oae ruouc utility Honds.
S f Attractive Railroad Bonds.
S ! S?110 Convertible Bonds.
115 High Grade Investment Stocks.
U Sent on request.
attractive securf-"
There are shown:
REEDA.M0RCAN&C0. fThditoSK
r
IU1 4I'4IU
4
- X