Nfi
l
K
X
'
Jfvs
.n?
r
"fc
u
EVENING- LEDGER PHILADELPHIA, THURSDAY, JATSfnARY 20, 1P10
FINANCIAL NEWS
BETHLEHEM DROPPED 25 POINTS
DESPITE 30 PER CENT. DIVIDEND
financial District Had Expected a Much Larger Dis
tribution on the Corporation's Common Stock Other
War Specialties Hit on Renewed Selling
it
New York Stock Sates
Lnet elnse
Adam EsprrM. .. 160
Alia Jnneiii .. OH
Alxka Cold M. ..... S5
Allte-Chalmcn Mlg ... 27Ji
AlHs-Chatm Mfcpf.... 70
Am Ac Chemical...... "rtHS
Am A Chem cf OS
Am licet bnear....... l.flW
v Ni:V YOIlK, .Tnii. 20.
The Block market ronctcd further today on efforts of the benrlili element
ort the floor nntl some outside operators. Including a few prominent pltinReri.
Who mrule frequent efforts to depress prices of lending Btoclts nnd force
speculative liquidation. "
irost of these efforts were concentrated tn United Stnte Steel common,
which, while It wns offered down from 85V4 to 834, wiih subjected to further
bearish Influence In the shape of assertion that the dliector.t nt their meet
ing on Tuesday will not declare a dividend on the common stock. A a
matter of fact, the usually welMnformod !nlrot on the Street Insist that
the stock will bo replaced on the dividend pnslntr Hit on Tuesday, nnd seeril
wagers were made today that a dividend of Vt per cent, will then bo declared.
With rejrard to Steel, one Important house with close connections In the
management Is tulvlscd that no dividend will be declared, while another house,
equally prominent nnd also nltlllatcd with the mnnittrcmcnt. 1 said bj membeis
of the firm to have positive Information that n dividend of l'i per cent. v ill
be declared. Naturally, n6 extensive new commitments on a long sldo In Steel
common can bo looked for until the dividend position IS defined nt the dlicctors'
meeting.
United State Steel earnings for the ear ended December 31 will show,
when this December quarterly statement Is Issued next Tuesday, about $60,000,
000 for the year 1916 applicable to dividends on the common stock, nnd It will
requlro about only 1-10 of this amount to pay tho dividend of 1'A per cent, on
the common stock, which those who uln.ulil have full knowledge of the compnnv's
affairs now look for. It Is held by sumo Important market Interests that If the
United States Steel cannot give $0,000,000 out of $60,000,000 to tho common stock
holders thnt there will be no purpose In making Investments In those shares.
Following the announcement thnt the ltethlehem Steel Corporation had
declared n dividend of 30 per cent, on the common stock, the llrst ever paid j mute A superior
By tho company, there was renewed selling throughout the whole market. The
Street had genernlly expected thnt n much larger dividend would be tleclired,
nnd as lnte as jcatcrduy n dividend of 40 per cent, wna talked of. It was
said yesterday that the earnings of the company for tho current month
would bo $6,000,000. ltethlehem Steel showed a loss of 2T, points ns com
pared with tho final price of jrntcrday.
Am 'n
Am Ian pf , ..,.,,,
Am V AH . .
Am foil Products..
Am Loal Prod pf .
,'m tottoa Oil .
Am KvprpM
Am Ilia- .v Lciihit
j Am ll.il.- X I, pf
Am Ice f-ccurltks .
, Am tlnscrd . . .
. Am I.lnecd pf . .
! Am Locomotive .
Am locomot've pf.
Am Malt
Am smelt A lief.
Am impit ft Itof pf
Am tniflteu pf A
ni Steci lotindrlet
Am SiiKir Hoflnlnit.
Am 'lei A 'Id .
Am Tel & Cable
i Am Tobacco
' Am Tob pf ne
Am Woo) tr r
, Am Woolen pf tr r
I Am Urltliur 1 pf
I Am V. I. . smcit
I Amcondi Coppci
Asocla!cd Oil
Atch r tsr.
I Atch T A S V Pf .
I Allintlc Coast l.'na
1 llaldaln lico.
! HaUlmon- f. Ohio ..
Ilnltlmorn A Ohio pf
Hank ot Commerce
I Il.itorlla Mining .
iHetlilehem steel
llethlehcm Sleel pf
HiooMin lta;i 1r
Uroun Shoo pf.
Dunn Jinn
lllli. Low. clow.
lfil 14!f 160
OU OH
23)4
mt
78
f.8
OS
gj
Ol'f
OX
27H
7H)i
!
08
J-0't
f2f ra
.-IVili l2H 1121s It-".
t (i'H fw! 07!i 07'1
. 1
2GJf
78
fll'
.171! 174 iro tl0!J
115 i 115 115 11&
:,li i,oH 65' MM
137' 12 132 1'2
il'i ll' 11 11
U t UM f4 r
5'j L'.Vt '.." 25
. nli 2""j 22 22
41 I1'5 tils 4IH
04' j Mi 1.1 Q3
H2 ltll'i 10l' ini!
. 0!f Mi W I'Ji
10ll 1P5 H2 i I' 2 i
11.1 112!i 11 U I12JJ
01 flJ's 12J l'2Ji
671J fi7 .'I. i M-i
um iiiu it: in
1275il 127J 1J7W 127'
(M'$ 0-J8 0 5J CV,i
2trj' 2l 21IJH !M)2
1D7H 107 107 10:
LONDON EXPECTS
TREASURY TO BUY
AMERICAN SHARES
Sales in Philadelphia
Ol'i
11
US
07 i
i.'Ji
DUi
13
US
S8W
07
05
13
07
S7'l
OVf
174
0 H
t:t
07
.10(1' J 100'i 1IM' K CM
I al Petroleum
( a. rctrolcim pf .
t aniidlaii I'.iclli
f cut I eathir t.o ...
tent I.eallie (o p.'
( heapcae A Ohio
t h!Ie t orihi'r
! Chlno topper.
Tho war specialties were the hardest hit on the renewed downswing I c hlcato (;t W't stern
In the afternoon, the Street figuring that If only 30 per cent, wns declnred
on llethlehcm the company could not be making ns much money no
has been cuirently reported, and that other companies engaged In tho muni
tions business weie probably In tho same bout In this respect. Ocneral
Mdtors was off 12 points and several other uhares were oft one to live points.
A lnrge part of tho selling umo from the West, nnd pnit of this was
on stop-loita orders, causing many iitocks to reach the lowest pi Ices of the
(lay; but the supply from the bear raiders and the Western houses wns easily
fibsorbed, and before the market closed moderate recoveiles were toported.
The mnrket, however, hud shown signs of slaleness befote the afternoon
decline occurred, nnd there was no disposition on the part of bujers to bid
prices up from tho low levels eitnbllshed. Some of the railroad stocks, which
havo been pushed sharply upward during the Inst jenr, reflected weakening
of pool members.
Talk of More Dividend Declarations
Tho atrcot heard today thut t'ressed Steel Car tommon will be put on
a. 6 per cent, dividend bnsls on January 2S. National Lead Is expected to In
crease Its dividend at the Marqli meeting, nnd the action of New York Central
Blnco the beginning of the week reflects conudoncso that tho stock will bo
put on n 0 per cvit, ba3ls.
WHEAT IRREGULAR
IN CHICAGO MARKET
Commission Houses on Both
Sides Patten Said to Be Out.
Liquidation Active
CHICAGO, Jan. 20. Irregularity marked
tho trading In vvheut today. Koltoulnt:
weakness at the start, when Indications
thnt James A. ratten and other lme In
terests vveiu sellers caused selling and
nervousness, there was a ra.Iy. Ma,
after starting at $1.23, tho loyv point of
the season, mavt-'d up to il.SOTi, and July
to Jl.21',1. after aiianlm, at Jl. -!':. read
ing and clos..i- louer. May tinlshed nt
$1.23, against jl.Ui'A nt tho end yesterday,
and July, Jl.i-. agaluut Jl.U'ji. Jeatqrdaj's
last quotation. It was avjeited that Mr.
Fatten was out of tho market.
Tho temporury improvement was cauncrt
by reports of export budncsj, I rccly
clearances from the te.-ibo.'iul, decreasing
stocks nt Mlnncapo'ilf, tinner cables from
Liverpool, ntter thnt market had shown
easiness, and a rise ut Winnipeg.
Commission houses wetu on both sides
of the mirket, but the weight of the
offerings Anally overcame the amount of
buying, forcing prices down at;alu
Liquidation tn the tlnnl dealings wns
active umi was caused by statements that
a scarcity of vessels was checking ex
port sales, business for the day being
estimated at ZOO.COO bushels.
Advices from abroad Indicated that,
whtlo the statistical position was bear
ish, tonnage dominated the situation and
that necessary Imports were being Inter
fered with severely.
Leading futures ranged as follow :
Yen' it's
unto! eipcn. nun.
May l..-J4 '."'
Jul . .. .. ,1,2. , 1.-4t
Corn fnew deUturi)--
May IH'.'. TUTJ 7fc W
New York Bond Sales
icl
HlKh
i i'.
,i
im'j
PIT
Ii4' i
ma
mi
CO Amer Agr
t.Tttn Almr Tel . It Is
-U) Amer Tel conv -tn .
-M I Amer Tel ti -Ih..
:Vm Atehtsin Kin 4s
.iniii vuMxin i -1 trim
iht Atthlron ."n . ..
"0ll Atlun Co I.lno 1st l
II ',. Atllll Cu Line Lit If
111"! It lit .! Ohio JVi.
IlK-i Mat .. Ohio 43.. ..
l'.UKi It lit I. (ihlu cv P. s
..inn nrooKn Hip T .Vi 1 II M. 1111
.tt i" i,cn 4i . . . VI
11.HI ! (iHt, A. KIlL : . tkS
IIJHH1 Lent I.e-ithi-r Ijt .",a. lulli
iiiO fent I'm. Ifct 4. .. H
I SOU Chill CaiHr ; . UT
1'ivitii e'hes .V. Dlilu Li I'jii 's'i
:iw L'hn x enlo I'j II-'.
;uiu ( hi fci Went 4u
ivitin rhi it ,1 ei j. lnt -is
lima ( hi II ft el iieu In
-im'.ii cin ii ti y m i'n
.l)W i' M A Hi I' lii.
ZJOtl L" M & St I' itl 4
-1(K C M A. .-t 1' li ".I,
WIO I M .1 St 1 c 4U,..10'.'lj
1U.-..0 U M A U 1' M 4'?3. lit
miu iif ssn Line 4'5. ...inn'i
l.nw CIoic
til. in
li-,i in'
!I2 IfJ
IiiiV. limit
10T lnT
i 1', I'U.
Idl nil
lull, liiiv,
"I'ls nil', iiu s
iH', Ul'4 V'1"
tti. sill' Ii.il.
JI.1N I !
wa
it
i'
SU'j
B.l ,
VIJU fill V tt 1 ffin
lixm Del & II ml ml 4s
iol Den & lllu tir 4s ,
nuxHI Den At Hlo Or rM :m
4Teo(l Ills M!cur lorp ,'s
7II01 ttlo gtn 4s
iooo Eric eiinv 4s bcr II
LtKii Crle rtur Is
:aim iiud . lUn rr.i .-
Ull.l in steel i.eli 4"
Him Inilliinn Steel .1
40O loia Centrnl ct 4s
.IKK Intern Jtet 4tn
VOO Intrrb 11 T r, r -.
T1IKU Inter Mer Mnr ct 41
li'
. "Sl(,
. T"rt
74
.'T'S
11
iwi,
HI
!IS
mi'.
n"
itvu
i ,
7."
IS
til
"l"
lfl
lirj',
til
lent,
in
7S4
.IS
71',
7'iS
-"!
lOllJ
!)S
n:i
101
ni(
. 7l)Ji
177
U5.
.18.-1
M.i
snu
. si
. ,Vi
UH
o.-i
,U7.'i
H
III
. U'1'w
. L'.t','
. Mh
. Wt
. :
.1(K)! ('()
1,'HJi M
nnlj iMj"
hi no
1I10U lOfl'J
lll'X o.
i;
in'
."
tiiii
Nl
IS
I'll-
tl'
1-1
"X"ri I
" I
W
I
.',
,!,-,''
lo.'M,
til
lorn,
ti",
''IH I
I hi (it West tif
eld Mill A M Pali
I M .v. Nl'il
thl S. North cM .
Lin It 1 ,. i ,ic .
Clue It 1pi A Co
Lolor.nlii r'uel i. Iron
t ol A. Southern . .
( ontlnental C'ai
( oiiiolldated ( is . .
I nrn Prrolf-tj Kef . .
Corn Products lief pf
tiulli'e htiel . . ..
( nicllile Steel pf .
tilian-.vn sueir
Deere & Co
lie.jniire .1 lIedoi
lletro.t Kdljon
"llblil.eri sec Corp. . .
Dome Mine) ... ,
lliie . . ..
I lie it nt . ...
Krl L'd P' . .
ltd Mia .V Mnclt pf.
tiiiier.il 1 le-tne
licr.inl Meiton . . .
titcdiVli IJ 1 Co . .
(iicei!i'-Canaii"a
l.iv.tt Nortliirn pf...
tit .Nor els tor ore pr.
(U!.'Ken l.xplor.m
Illinois Cent
lnt Acrlcultur.il
lit Artictiltur.il n!
Int-Met vot tr cfs
i t Ji.in N J
m Con Cor t e sh. 8'i
nit Consol Corp pf . . 7lVj
lrii Con Copper t.V-j
Hit Nickel v t cfs ..W
,lt M M cfi oi dp .. LM'f
ll.t M M pf ch of dp. S0f
han tltj Southern . . 21)
Kan atj Southern pf. til
80
4W)
112
MH
1)7' i
HTM
7l'j
;a i
Ii7's
in
1 1
.V!i
it'j
;
rii'
177
101)
Ui
NlJi
u;
SI
71
.'II
lilk(
I75U
5.l'4
till
IM
2.1'.
('."
im
li'J'.
i:mj
Pint
in
107'
l'i
Ml
177
'Ji
4711
112
Ml) 5
117
S-l
7-1 h
.Ml!.
Ill
!7.V-
.:i'f
ll
u'15i
:s
MI
i:m, l.'iiji l.'ti'i mi
j
fi i-i'i
l.i. .17
.l'))i '.'J,!
SI SI
U-2' t U'2
'22x "J','
mu US
l.-.l, t.i'i
llD'f llD'i 111)
1'.!) 17!l'4 170
oti oti un
17
it
til
jir
7-'i 7U i
14 Hi 141
l'i 2V
17
71
2U'
!IS
Gl
Belief in Market That
Stocks, as Well as Bonds,
Will Be Purchased
GERMAN EXCHANGE WEAK
Dy FRANCIS W. HIRST
lilltur ef The llcrnnmlst. tiondon,
' fffiecfnt Cdfcle ti tie Cienlnp LtAotr
I.ONIiti.N', Jan. 20. Money was p'enll
fill ycterdnv and the stock markets wero
firm. The SHoek nxchnnKe believes the
treasurv Is prepnrliiR a lint of American
lmos which It wilt nurdhnso besides
bond. Othorw.so the tlnnnclnl sltuitlon (
Mionn nine LiiniiKe
There Is much doing tn diplomacy, belli
polltlcnl nnd coininerclitl As conseilp
tlon Is proving unpopular with the woik
lim classes, the Nortlicllffe iress nnd Its
nlllcs have been snitched off onto n fu
rious nttnek upon tho Korelnn Office,
wli.ch Is oteii?eil of trentlnff nctitinl trnde
consldcnitely Instead of endlinr tho war
In stramtllnf? the commerce of Germany.
Actually, of course, tho blnckndo In now
much more sclctitlllc nnd Injurious to
German nurture tlinn It wns sly mouths
ni;o Hut Indulgence should t.e extended
to ICiiRllnh Journ.illstn worklns w.thout
economic or ntntlstlcnl knonletlRP under
n newspaper tiust.
t'cinipclent nnd Independent tlnnnclnl
authorities nKiee Willi Lord Itobert Cc
c'l's Scnndlnnvlnn pollcv nnd hope he
will not lie stampeded by the Dnllj Mall
llesults of tho more scientific blockade
me evident In the crumlilliiR of Gerninn
oxchntiKc, nnd the decline of German
i credit In nelltcnl countries. This derllne
In murk cvchnti'ic would, ot coure, ne ,
I been Impossible If Germany had l.ccn I
I cut oft liv our blockade from ten, coffee,
fruit nnd other com'oits or luxitrlon.
' You cannot have dcpreclntl'ii In moiic
! tarv evthaiiKes of a country If It has
1 tli! no Imports: and, ns publication of uolil
lvn ' nieinlllins Is forbidden hi Gerninnv. a
U l'i ' complete blockade, or, as I have cfllcd
It, a blockhcRd hloeknde, uould morelv
have enabled the German Government to
maintain I tit credit veiy much lonKei by
compclllliR' people to subsist on a Spar
tan diet, fiom which forclriii articles
would havo been virtually excluded.
The composition of the Government ex
plains some Incsolutlon, and opinion on
both sides in Commons Indicates the de
sirability of a puicly Conservative Gov
ernment to finish the war. This seems
to bo the view of the Liberal Manchester
Gunidlan, a very Influential paper.
Vee. ele.ee Until. I-ow. Clo.
70 Amer Mlltm T R "H JJ
.I An er fllys pref . M iV " ,T
um unit t o t sn "
nin rnm 8t-el ... 71H 71S T2 iJ'i
IS Klec Stnnix. . Kill nl ill
.170 Krl . . 41 10't "4 T"4
HO Inn Co J Am SS'4 iV'i "vi "'
in Ke j ft r no Tel Co tl "i H'i tl'4 H'4
lir,o Utie Hin, Corp. n s,i s'
ait UHKh yav TH, 7s'i 7S 7S
2V) Uhlftli alley 7DH "O'S '
lllil I.eh Vnl Tr.. . 1S4 t'H4 1""i i""
t:v do pref .. r.s'4 ;ri .tsu l'i
nl NVirth Cent . . f'5 f " sl
:m I'enna lilt .. . RsH f,S, (vs .H
:i.' Va Cnll Mfrr .Um l,"i ",)
I'll "teel pref SI st S! St
S01 Phlln. Klee. .. 2S ISU 2S 2;
.11(11 I' II T tr ells., in 11 1 I8U
I'll I'li'In Trnc . 7tm 7tl'4 Tn'i
Ut nea.llnu . . sl'4 M'i " 81
in .South Pan . ,. lot). 101H 1"1,1
117 Ton llelmont . 4 IV. 4S 4't
171 Ton Sllnln . niVlrt 7 'l'i "h
100 Utah Topper . . 7S 7SU 71'4 7SH
117 Cnlrn Trac ... 41 41 41t4 44
4M tf o imt no non no not;
.10 fn Cos N J ...S2.MS S2ll'4 22'!' B'i
(fliHI V S Steel .. RS SIH MU fl'j
21) West Klee . .. IBH ns OS rW
.-, Vnmlek I . S 10U 10'l ln'i in'l
1 1 VV Jer 3 fl . . Vi, MV4 f" M'i
Tolnl Bles, 20,180 ,linrf, comimreil nllh
lids') olinres yesterdnyi thus fur this week,
BIM11I fthnfes.
IN
I t'4
lit)
I7D
lift
l.'il'f 15 l'i l.VI'5 lf.4
i:t-U in
111 I
:s
KHf
.0'.
.ril!i
fl
174
4S7
7-U
17'
121
1734
L"L"x
.107',
21
K)
. 10).
lit)
Lee Mteel Co . . ..
Ielilh allej
Hwett A Mjcri pf
1 Lil.lcnl I" Co pi
Macl.av t cu pf . .
Ma l)ept Stores
Ma) Dcpt htor.'j pf
Mtixniil -Motor) ..,
Max -Motors 1st pi
Mix Motors 2d pf. .,
Mexican I'ctro.eum.
Minn & St Louis .
Minn .1 St L pf.
17
2s'ij
)'
fill" j
Ti)
.2H
174(4
l-'Js
72i
I7U
121
I7'
2I!
107
To
10
112
lb'
71U
'.
1211
21' I
SHf
20
r,i
Sl'f
7n,
121)'
no
in
JTH
.'I')
oti
.-i'U
171 i 17J
47.-I -IM)
(A)ii 7iM
IlIJi 10V,
12,iJ 12'i'li
III)
-t.-.Ji
:7.
li'i
r5f
no
Sl'i
. 70'5
12)
1 l'i j n7'i
. 07 f.lje,
,V) r,
.10.1 Id.".
UJh till
r.Vii hS
. 52)1 Wij
112V; 111
21 M 20
ir4
'.'A
107
no
?jSs
10
110
m:
7;i',
14
20S
20'i
7S
28H
02
70
78
120'4
117'f 1I7'I
tl'itj 0314
.IS ,5i
10JM 10JJI
IHtj 04
40Ti
2.1
107
iio
10
in
Mi
71
14)
208
20'f
7S!ii
2Vi
02
SO
70 1
1201
T'i Minn St 11!iS M. .12IK 12t5
'i
SJl,
11V!.
mi v-j
Mo Kan .1. Tovoj
Mo Kan A. Texas pf
Mhiour l'acifl.- .
Mo I'ac tr efs
Miami Copper
Montana l'oner
i.'j S'A t'1 i J,"a' Cloals . hull
ti .1
,iii
73
I',
leu,
l'jnii
I..1IIK
KVJilO Jaiunpft, ni (1 R 11. Ttii.
1iUi Kan e'l.y bo r.j . us; iiiv. inv
ID-ll) l-.lilQ.lo Ocii tat Tn. ..plltj lni' lulfi
JViOl) LHke Sh ilcll 4 1 JS ll1 ll-.IJ -,;
Iiiv. Clone, elope,
l.'ii i.'."ii. l.aoi.
!.!$ 'l.'.'J'-, tl.'ilS
July .
Oats
May ,. .
July ..
Lard
January Hay
July ..
Mb.
January
May ,
Pork-
January
Al
7u( 7U
.YI.
501,
lay ..,
Uld.
. .'i-l
. 4r,
.10.12
10 h7
u.o-j
10 0.1
i.Jl.UT
I0..V.
20 03
T8VJ
SW
.12 ti
4US
a
Js'4
IKS
lie,
ao.
10 5T 10 41 10 43 10.U7
1I1N7 111.711 tlO.To I'l3
ll.USlU.MT 10.S7 tU.U
IOB.1
1I.OT
tAkeL
10 i
20.12
to no
1U.U3
10..10
1D.UT
to IX)
1U.U1
10 7.1
'11.12
10 SO I0 7O
10.UT tiv.
LIYE STOCK QUOTATIONS
CHICAGO. Jan. SO 11003. lUcelpta. 03 000
head, market l.'.fUOe. lower. Mixed and
butcher". Te-i ait 500,1 heavy, 7o307.ja;
rough heavy, aMB7.J3. llxhf, WtWflJJUs
pic u lMitcs: bulk. 7,101i7.W.
CATTLE. Itecelpta, li"0 head: market tOS
15c lower. lteeea to iJSili 7.1; caiva and heir
kl 11.504(8.10, Texana, u5ftllS.W; lalvei, 0
SHKEl. Itaeelpta, 1S.0OO. head; .market
tteudy. Native and Wcatern, I.1M7,U0;
imba, 7.&04ily.H.X
FOREIGN EXCHANGE
NEW YORK. Jon. 2U. The feature of
the foreign exchange niarke at the open
ing was further strengthening In Italian
exchange at, 8.63 tor cables and 6.68 for
cheeks. Sterling and Swiss yttre a. shade
easier. Business was on a moderate
scale. Quotations follow; Demand ster
ling. 4.7,tH.7, cables, ue. Franc
cables, 6.814; checks, 5.SJ(i. Relchmarks,
Tl IMS and W. Lire cables, C.S3, checks,
fi.CC. Hwiss cables, 5 15; checks, MS.
Vienna. I?.65fil2.70. Stockholm, 77,70 and
17 0. I'eaestaa. 13 04 and 1910. Guilders,
IUOJIVjC, Rubles, .&'-,.
In the afternoon the general market
continued steady and relchsmorks tlrmed
up to 1itt1a. Sterling was quoted at
-lit- H-Kl., and cables at 4.76 lMfity
i.Wi. Francs were quoted at SU for
cables and (-83 for checks. Long step.
Unif was rsnorted 4.7JUV4MH for 60s and
4.7t0H for 90s.
KATES FOB MONEV
N'cu York
FUladelDhJa,
lioitoo
Cat!
Iii2
?Kvi
.. ...SK4
Time,
,
"AM
4e
Jr' .-.i.... -.n1 ,nnac hH rt otv mnnlhi lhll
itdiiVWa. JMO per cent
j.L MM III I I -l-,W. !...!
BANK CLEARINGS
aaajk ciiirlnit today compared with corrc
JMWW day Ut mo ar:
l'JI.1 1014 lit
rWUaVlvfcla.f-'l-V.ia.l Mf 1-4 3U3.AUV 2S.UJ1,RAS
iol7 ... , isiMXI-UeO ':W,W4.01T S4.1SJ.7M
Bank Acceptances
SBW YPpiv Jan. 24. Nothing h. J de
Itleiicd to stimuUto special Interest or
s:ttvltr ' bank 4M;eepUiocoa. They are
blunged, at nominal quotations ot Z
,-exat Jar wui SW P.' et. fot S j.
eCO l.nrll.ir,l .', . ... lull
lie-in Mm let 10 I eer A. 114
.lax) Mich Stat T .Is 10 1'
l-ll, Minn ..r St 1. -U .111.
lino Minn m I' H h M 4e. m5
1IOIII m k & T lit
lliuo llo 1M 49
1WH1 ln 4',
ikiim Mont Power fin
won .v v e- t 11 :ti,i
4t eo ilo 1, .. . .
4KJK1 do 4e.
M.VI N Y C l.a .
lllOil N V I'lty 4s IM'I
40K1 ilo 41,11 II ill ....
IIUKI ilo 41, lui.l
innoo y itwy rcf Is .
Vino ilo nilj ,1a
1VJIIO N Y Tel ceil 4V-H
IiKki S' y vv e & 11 ,h
.1000 Norf A: Went f'uih 4,
Iikki Xor lac ijriur 4h
l.ioo Nor l'ne Ken ;ia.
4COU Ore . VV It & N 4,
loixm l'ennu 4a 1U4K .
iiO ilo sen ct Ik' -
14O0O I'enna in 4'4 lDIH
.'UXHi Public Her NJii .
4010 Iteaillnx Ken la
14IKIO Itep lr 4 8 Sa
.MXl Itlo tlr . VV elt 4s
llKm Hock lilniul rfd 4s .
aonii st I. & H K sen la
0o iio s.n ti
tiK Stand II 11 lis
;nv
. Cn
- 4J
H7
lJ,
mi;
117li
tmn.
InHj
r.K
. UM.
. Nl4
, ikji;
ui
M
ii-i),
101 u
mu
wie,
!.-.:
i.;
7M.
iM;
.n
no
70TO nealuard A 1. Sla la. h'.'u,
.-J)tl South llpfl ,1a. . ii.vi:
iwkki botitn i'ac cv -,
Vi) do qv rLt I o .i,
fioon South Pnc rfd 4a, ,
n,iO fioutn Kwv Ken 4i
Id on da con ,1a ,
5MI Third Ave Hill S3
2'jeno 1' tl L1el it .,
Mi t'nlcn I'ae ev 4
HmOI do rfd I
21il Vn It"), S K 4a
i-UMl Vn elir Chem lat .'a
.IKW .in i!a
I110.1 Vn Itr.'y a .
taae.0 VVab-l' T lat ct la
.YM ilo ,t iref
i;ul Weat Kle .' ...
lKI Weal hhvre res la
SOW Weat Union i .
n4
1TH
tul
int.
Kill,
. aiv,
tm
101V,
41
in:
love;
h'W,
101
114
'SSI;
7S),
.1.1
4J
111,1,
Ml.
,CJ)
ill',
in,';
UN'-.
lul',
Ml,
l"x
nil.
n.i'
K.S
litlj,
ini4
11X1
1HIU
mu
WO.
7M
114 V.
.11
HO
mil.
MU
wit.
Ml
107H
tint,
ViU
v'
imv,
letv,
inu
41'.
Ul
lf,
IINlT
M
102
JOHi,
114
1IKII',
111
7N
111
4'-'1.
117
M',
ll.'lj
111.
117'.
,M,
mi',
:'
is
UM.
111.
tu
lllu,
I.T.
KH
III'.
loi:
Hil
mi'S
imi
11111.
7M1
M'i
11
lln
tme.
we
1IVK,
S'U,
ion.
lflI
7211
IIU
ten
11)1'.
roij
41 .
tit
liu,
HKtJ
.
. 1 '
111!
Nat Emm & b Co. .
.Vat U'ail Co . .
Nat H of M 2d pf
Ncv ton Copper
h74 67
:a ?2i
IW 1C0JI
7 7i
ai :'()
12J 123
Oh (i'j J
15 15 15
ii'i .Vi 5if
Sli oH 5!j
SIM :i7Ji ,'!74
7lil. 70 7(5
Ml'J SOJ-J M)I
1714 27 27
731, 70U 71H
S'i 7I3 7H
I0V1 1511 I51i
I41)J
74' i 7 111 721, 7i
.110;, no'i man lu'j'i
. 261 j 28' i 28 2b?
.11!) Il!l) 111) 110
. 8815 8SU &S 88Ji
. 7J 71SX 71i 71Ji
115'i 1154 111;; 11 IU
Utt UH MU UJ
ti!5
15! 1
5','
S'j
37',
77
HI
27H
72U
b!
I5VJ
SiHi
Totul aaUa, ft,JI3,O00, niuiparril
I IJ1OI.UU0 yr.teriluj ; tliua fur IliU
SIB.U33,000.
Ulli
with
week.
COFFEE MARKET QUIET -NUW
YORK, Jan. :o.-The cofTee mar
ket opened Irregular (his morning with
prices 2 points lower to 3 points higher.
Later the market was very quiet, wth
prices virtually unchanged from the open,
ing level. A little demand for the late,
months caused a slightly steadier tone,
however, and there was an absence of
selling pressure.
Conditions in Ilrazll appear to bo some
what unsettled, as Itlu exchange on Lon
don lost yesterday's advance- of 5-32d. It
was the Impression nmong local Importers
that the low rate of exchangu might bring
about Increased offerings to America.
Toiiay'i icattrday'a
opening
ctoaa
O 9.1&U.S7
iiu.'auie
T 04U1 Oil
? Ouil.07
7 HUT 13
T IM7.:o
7 rta7 27
7 4S7JO
t nut at
7 .toa-.3s
T41W7 4I
NEW TOHK BUTTER 4VND EQPS
NEVV TOHK Jair M-lirTTEIL-lUrlut
Brmar ita-elpu, IH7S jaekases. Kitra cream
ery. Jfe , usher ncoilnx He alula ilalry
SOfl.He IrolUitlflu trwowrt J1BS1W
lvQQS Market Tenk Receipts 5IH paek-ajtea-
Eitru Bm'- alWlc. Orata. to fl.'C
n.ajliy arbllea. 3$4i)v., aUi4 -color. Kiatie
tuwrtiy brgmn. 3Ta3&;.. refrigerator Arau.
January .... .... -
February ... .... ..
MitcU I2?.
APfll ,, J-7 1
May ,. ... 7 OS
June . , 7.IOflT.lJ
July . ..., .I0
Auxurt 723
8ptemter . - . 1 KS
October
J."9vembcr . . .
Uaeember 4 1Q&I.43
UM gala. MjO taiia
Neii or. Air IlraVo .ISO!." 1521j HD
N Y N II . II
N Y C X. II It ..
N Y 0 a. West
Norf & Western
Norf A Wist pf
North V.merlcan
Northern Pacific
Ont SlUer Mln
Tacilic Mall 12 12 12
l'aclflc lei . Tel ... -UK 41 40H
Venn Railroad 5S 5H'f 57,',
Moples Oat Ohl ....100 10 lOi
reltlbone-.MullH.en ..50 55 55
1'tti.delpbU Co 12f 41 U
1'itw co.ii Co n j.... iio :uk aw
l'reMd steel Car Co . 58 58 57H
I'cllman Co . .. .103 1G7W lfi7
gulc.sllver 54 (l'i 5!.'
tjutcUllver pf lili
Ry hteelbpc Co 3'J
Hy Con Copper 24!f
Heading 81 tj
Heading 1st pf .... VMi
lleublic .ion & Steel. 511,
Itoclc Island
Itocl. Island ,
bt IjOUU IhF, .
st i. a, h r 2d pf
Seaboard Air Una
Seabpard A Una pi ,
bean Itoebuc &. Co
Mos-Sht'it fit 1
hoi-th I'orto H bu:
South V n Sag pf
southern I'a-.-Uc ..
ho-jthern Hy ..
Southern Hy pf
Standard Milling, pf
Ktudeualer Co .
MudebaVer Co pf IIO'-S 111
'lena Copper
'leiaj Co
Teias l'acjflc
Third Arenue.... ,.
Union Hag i. Taper
I'nlon II 4. 1' pf
Lulled Cigar Mores
United Cigar Mfrs.
Union rarltlc ... ,
UlUUll 1411411. ll,,,,f
7Ji 0'
3s as
2 lit 24)f
hlU 81K
lUV-j 43h
5Ui 50
K K
K it
5 5K
71,' VI
17), 17i
j'j .'isvj
181 18,1
.VJV-j W,
14) 140
107U 107
101.'. 101
2'1 2.'1J
nt ai
87 fcO'i
l'vl'i 1S4K 1505 J 151
111 111
t'M 591. 5SK 58'i
213 SlnJf 205 205
bJC 8JJ Vi V,l
H
. i.
. 515
. VI
18
.11)5
-IS!
59'5
150
'. la
. S7
12
I0J5
lS
101
55
14a
JjJ.
57ii
107
SH
OH
as
24U
8114
tab
50K
K
H
.V.l
711
17)i
liU
IM
."W
14!)
I07U
101
22)j
S7
01K
71(
203
l.
C3
01 01 61
7)5 715 7)5
2S!5 28)f 2SM
0)5 j 0)5
fi.l'a 0-)5f 63W
..130)5 130)5 130K 130)5
M W)i Kl hJlj
bulted rruit Co, ,,,,.130 lTO'i JH)5 13sH
U H Ind Alcohol 11SV5 )51fi UHH I48JJ
U S Ind Alcohol pf,, 113 112 112 112
UjiOll'lF. ... 22)5 23 22 22
Lpltcd Kys Inr Co.,. 20 18 18 18
United Ryslnv pf.,., 37 . SiH 311 J
U&HubDef 5515 5) 54)5 54)5
U S Hubber 1st pf ..-lO?" 107)5 IO715 107)1
US Steel Corgn ...S51i 85 k3H 83i
U S Steel Corpa pf... 117)5 U7H Utn U7)i
Utah Copper 78)5 78)5 77K 77)5
Va-Caro Caem ,,,.48)5 49 48)5 48)5
ValtyAJ'oaer ....47)1 4S'5 48tj 48'j
WdDastt ... iu
Wabasl) pf A ..... 47H
V abash pf U ... . r 31
iS-ejktn UaloaTeb.-. 01
West K & M 0715
Wheeltog 4. L E 2)5
Wheel A. L E 2d pf .. 3)5
M-lUt Overland. . .225
,Yooioita i'W .. 120
Quoted dividend
Total aalea, 63S.300 akare.. compared with
813 SOU eluire ycaterday; tutu far thl week,
1,318,800 iliarea.
BAR SILYER
In London bar allver wk quoted at 24 13-14
pence. a adraacs of 1-lii ptncw.
1515
47)5
31
01
08)
2H
3K
220
120
15)5 15)5
47)5 47)
iOtf 0)5
VJ'4 8J)5
b7 MM
2)5 2)5
3)5 3J5
210)4 210)$
120 120
HONDS
f.it irc.
rile, lllxh
Sllt) Am Una . 12 .li P. P2
II Cnm fetl an 'lfl IS ti
II do Mnv 1H17 . IllUi lul
C(TO Cltj I. IP41 res IMS IT2S
L'lOO Hie A I'co Tr 4. Vi HI
WOO tlamood HI fin. trim 102
von Intrt Ilia l... M Sfj
14000 Key Tel 1st .-.. tiife IiR'i
S(00 I, .Vv cm 4V,i K.2 112
1100 Leh VrI (ten In. IU tii'l
lKO ilo 4'i' 'J0al...iniTa 10.
tliid dr. iec 1021,
tonn do nun i'v. .1 II 111
tttlO I. Vnl Tr 1st 4e. nl til
amo i'enna nen IH KH'f liif-i
lOOil I'n Mil bill llr.lOI lot
inoo I'eo l'nfi t 4 sl'i M
mill I'lilln Co ens .Is I'll 'I 101 'i
loco iln 1st It . inl'i inti,
wnn I'lilln liter I. . MS "SI",
IKti Henil Kin U . tl1' t'Vi
4fmi Spnn-Ani I lis. ire! 101
lit 11 t"n Tr Pl.t! ,1h. . 72
ikk) Wrifiiich Co r n.i'4 n?
7W0 York ns 1st ,1s nl tn
Low. Close.
02
US
101
102S
"Hi
"I,
117
102
M'
int
KI2S,
111
ni
lOt',
tni
M
mm
mm
!IT,
UK
till
III
P2
PS
101
tn:;
(12
102
s;w
M'4
1n2
112',
102
lO.'H
111
til
I0l4
mi
st
ton,
lOllj
St'i
1)3' 1
1112
7,1
no
ni
Tntnl sales. $128,121, rmntiiireil wltli I17..
1,1 J je.terilitM llms fur tlili wee't, ?3H(l,3(lil
COTTON FOTUREP WEAK;
TKADLVC SHOWED ACTIVITY
New Oilcans Houses Free
Itcceipts Smaller
Sellers.
NI1W YOIIK, Jan ;0 Offcilnss vveroi
linv at the otientiii 011 the Cotton IX
eliniiRp this mornlnt;, but Rood resistance
wai met and as a umilt the early tone
wns. itendj. January bclnc unchnnqcil,
ultli nthei options 3 to li points lower.
Tl'p fact that some Janunr notices wero
out, iilthoiiKli the amount could not be
lc,irned, caused llqiiltlntlon of March, the
next spot month, by conimlsalon bouses
New Orleans Interest! were a'so free
sellers and offerings from certain Wall
street sources continued on a niodcintc
sculo. Spot houses, however, were buyers
on the decline and loom traders also took
up tho various options. After the call
selling; seemed to cense nnd prices rallied
about 2 points
Only Unlit, scattered rainfall was re
ported In the western section of the cot
ton belt this mornliiR: Tcnipeiaturcs
were much higher nil over the South
Tho mnrlcct was veij feverish In the
afternoon TrndliiB was 111010 active than
for il.ijs past nnd liquidation appeared to
bo more or less general with a Rood dcnl
of piessure of lorn; contracts ngalnst
March Spot houses were credited with
lulling the built of tho March on a scale
down nsalnst sales of later months and
after tho break of about 10 to 19 points
from last night s cigslng figures prices
rallied 3 to G points around midday. The
talk of Increased acreage In l?gpt
seemed to have made somo Impiesslon on
sentiment, probably encouraging predic
tions of similar nctlon In the South. Spin
nerB'aro credited with having been beav
buera to "fx prices" during the session
nnd It Is believed that bujlng of this
character will develop on 11 large scale
on any further decline Ai rivals ot cot
ton nt New York today were 62S9 bales,
Including SOO bales llntcrs Interior stocks
fo- 'ho ilav Inci eased 3000 bales, com
pared with a decrcaso of 4000 last week
unit lOW last ear. The epoits of cot
ton for the day aggregated 17,162 bales,
against 51,438 bnles on this da) last jear.
At one time Liverpool was G', points
under cxpctatlons, but later the markot
rallied and at the start here prices were
about 3'S to 5 points lower. A private ca
ble said that the opening wns good, but
the later declines were caused by a break
In the Kgyptlnn market.
The receipts of cotton at the ports for
the day were estimated at 20,000 bales,
compared with 22,415 bales last week, 53,-
101 bales last year and 36,187 bales In 'M.
Yea. eloae Onen. lilch Low. I.aat.
l.'.lii VJ 14 1.M4 l'.'U.l l.' ill
1J.IJ l'Jia) 1.' 11
...12 1H I.'M 12.M
. . 12.72 12 117 l'.'.l.l
. .12.70 12 .HI l.'l.T
.12 M 12.81 12 SI
. 12 40
January
March .
May .
July .
Octnber
Dei trailer
Spot ...
1-' HI 12 '."J
12 11 12 47
12.M 12 Ql
l.'.M 12.1.1
12.03 WIM
12.20
Liverpool Cotton
I4IVI4RPOOL, Jan. CO.-Spot cotton to
day was quiet, at a decline of 10 points on
the basis of 8.12d. for mid-uplands. The
sales aggregated 7000 bales. Including 4000
bales American. The Imports were nil.
The market for futures closed quiet at a
net decline of 5 to 7 points
DIVIDENDS DECLARED
National Carbon Company, regular nuarterly
1"! per eent on preferred, payable February
15 to atock ot record February 1.
Hiker. liegeman Company, regular quarterly
IH car lent, on preferred, payable February 1
to atock of record Januai 22.
Fedeml Sugar Hetlrliis e'o.npa-.y, regular
quarterly preferred m per eent., payable Jan
uary II to atock of record January 2,H
Automatic Electric Company, regular quar
terly 1 per eent., payable 1-ebruary 1 to atock
of record January 2".
Philadelphia I Ire Insurance Company, 0 per
cent.. vaable Februury 1 to atotk o( record
January 10
Philadelphia. Coiitrlbutlonahlp for the In
aurame of llouaee from Loaa by Fire. 10 per
eent. on depoalea held at leaat 10 years on
policies In force December at, 1013.
I'roctor & Uambla, regular quarterly 4 per
cent, on common, navabte 1-ebruary 15 10 atovlc
of rwonl January 41.
Philadelphia Trust Company, regular nwar
terli U per on . iabl February 1 'a
rezlatered January 20.
I'uuman 1 oraiKiny, regular quarterly 8:
snare, myaoio reMiunrf u 10 aiocanoic
record January,.!
eliruary 13 to atockholdera of
I)c 1-oiik Hook and tie Company, regular
quarterly 1 per cent . pnyablo February 1 to
looic al icrwu .(UU.II .1
Canada Cement Company, .1
aioclc of record January
Canada cement e;ompany, a per cent, on
common and regular uuarterly 1 per cent,
on preferred, pa) able February 10 to atock o(
record January 31
RAILROAD EARNINGS
UOllII.B AND OHIO.
. , 1010 Inereaeo
Pecond week January .. 1204.141 116,121
From July,l . 0.215.5S5 aM.tHU
TOUJPO, PEOttlA AND WESTERN.
Second neak January . 110,1.111 124,390
From July 1 , 1US.&21 11.1T.0
SOUTH EltN KA1LWAV.
Second veek January J1.1W1.714 1123 001
From July 1 an isut 1 7JS.0.I0
CINCINNATI NEW OBI.EAN3 ANU
TEXAS PACIFK'
Second eek January l.'0.rn fif-m
itom. July 1 . . 5,377 lis 475,053
COLOHADO AND SOLTHERN
Second week January 2i,5jrt JS.TSI
From July 1 f,2u),u7 aziizn
MINNEAPOLIS ANl ST. PAL'U
8aicon,iw. January lioT.uoo JIS.oSj
Froni July 1 . S,3.m I,5U
Pecttaae.
Local Bid and Asked
TodlJ's Yentrrdiu'H
III. I Annked 111,1 Aakeil.
Ilalilvvln 107, ' ins W 11 III,
l.n prif 107 1()5,W lllil; 10SI,
llultnlo f, Sua t c .1714 .1514 :j.S i
111! tir .Ill .11 I;1'
Iirlll .1(1 ... .a Pi, :"i l'i
rnmlirla it6el . ..72 72 , 1 1' '
l.lertrle Slornce .. . Mi, Ml, J; li ;j
llrtienil Asphalt . .11 ', ' -J
do nref i,'1. 70'. pi1, "111,
KrVttmc iel .. . 141 U' U'4 K
ilot c 14', t4'i tl'j J.I
111 pref . ... V.s 7H i.'i ill
l.iike Sup Corp s n J .04
l.rhlKh Na . s is1 ,s 1 "
' Vnlle .. 7St 7IIJ Til', 7li.
IrfhlRli alley lr... . Ill 1 i! I" , si,
I'emm . .. .. .. KM" gal, RSli .IV,
I'lilln nice '.s 2SJ, SS .'Si
Plllt-l fo l-''j 4t'4 421, 4U1,
ilo ft per eent pref . .1 .! ' ''
no 'I per lent nrcr . 4lj II 4 11, II
Ilendlni? . . . M ', Mtf V.V
fnlon Traction . 4 I'm 14 4I 41
fnltnl On Imn .. . VI', no no WJi
United Sinleii Stcil .. .MV vtj; M H;N
York Itnltway . . . M. n'i L"i
ilo prer . .. .'im '31 ,4 :
William Ornmn t c . si 8.1 M 82
Hx-dlvldciiil.
Financial Briefs
At the nnnual stockholders' incctlng of
the Franklin Trust Company, retiring
directors were re-elected ccept Henry II.
Slielp, who retired nnd hla place was not
tilled.
A protective committee headed by John
V. Plntten Is asking hdldcrs of Missouri,
Kansas and Texas llrst mortgage exten
sion 5 per cent bonds to deposit them with
the United States Mortgage and Trust
Company, ot Xew York.
Chicago Stock Uxchange govcrnois ad
mitted to the regular list. Additional
J.950,C0O Swift & Co first 5s, making totnl
Issued and outstanding 9,050,000: 510.0G2.3OO
common stock, J7.672.000 preferred and $10,
43.CO) Hist refunding 53 of Public Service
Company of Northern Illinois.
Tho Comptroller of the Currency has
received an application to organize the
National Bank of Fannettsburg, Pa.,
capital $23,000, to succeed the i'coplo'3
Hank of Fannettsburg.
The Baldwin Locomotive Works has re
ceived orders for the following locomo
t'ves: One triple articulated .locomotive
for the Virginian Railway: one 0-1-0 tpe
for Win. Ciamp & Sons Ship and En
gine Building Company, Philadelphia;
two 10-vvhceIed typo for Sugar Land Hall
way Company, ono 0-6-0 typo for Lorain
Steel Companj, of Johnstown. Pa.
Negotiations for acquisition of tho Chi
cago, -Milwaukee and St. Paul Hallway
Company 4 por cent. French ,franc bonds
having ibeen consummated, Kuhn, Loeb
& Co. and the National City Bank are
now offering 1 per cent, dollar bonds ma
Hiring June 1, 1925, to be secured by tho
pledge of the French franc loan bonds.
Tho New York banks lost to Subtreas
tiry yesterday $1,021,000, and gained since
last Friday $1,751,000.
Three to four million -bushels of cash
grain were bought and sold tn Chicago
jesterday. Including 2,500,0000 bushels oats,
to go to seaboard.
The combined net earnings available for
dividend of the subsidiary companies of
tho Massachusetts gas companies for De
cember were $295,206, an Increase ot $50,
714, or 20,71 per cent., compared with the
corresponding month a year ago.
C. ,1. Bean & Co. bought Lehigh Valley
Transit; George A. Huhn & Sons bought
llapld Transit.
Frederick T. Chambers was elected a
director of the Do Long Hook and e
Company, replacing Frederick HcC-ven,
resigned.
Walter K, Hardt, a vice president of
the Fourth Street National Bank, will
lead a discussion at the members' night
meeting of the local chapter, American
Institute of Banking, tomorrow evening.
In Griffith Hall, 1120 Chestnut street. The
subject to be discussed la "The Loan
Department."
Bank of England Statement
LONDON, Jan. 20.-.The weekly state
ment of the Bank of England shows the
following changes; Total reserve. In
crease SIJ0.0OO; circulation, decrease
429,000; bullion, decrease 133,000; other
deposits, decrease 3,291,000; public de
posits, Increase 5,921,000; Government so
curltles. decrease 1000. The proportion
of the bank's reserve to liabilities Is now
2i?0 per cent., against 22 1$ per cent, last
week and 32 per cent. In this week last
j ear.
Rio Exchange Lower
BIO DK JANEIHO, Jan. 20.-Exchange
on London 11 ll-32d., a decline of 5-32d.
from Tuesday's price.
Trumbull Steel Stocks Increase
YOUNGSTOWN, Jan SO.-Announce-ment
was made today by Jonathan War
ner, president of the Trumbull Steel Com
pany, that the stockholders have been
asked to approve an Increase In the
company's stock from $4,000,000 to ilO.COO..
too. The proceeds will be uaed tojaulld
mills at Warren, where the company now
makes sheet and tinplate.
T SELLING Otf CAMBRIA STEEL
' - . - aa. a --
ROUSED NEW STREET RUMOl
Ranid Transit Weak Feature of the Local List-tf J
stone Telephone Bonds in Strong Demand Heavy 1
IOreign OclltJB xveaunv 4-luauiUUQ
Thero wns no particular nn t .
for tho rise other than wJ?.!!
nigs. Hearting 4s, Harwood fi. i? ";
van a 4V,. Lehigh Valley 4.4,' L"1
Hallway 5s vvcie all In good ,1.' ".m
j no present jear Is expected )7jl!
heavy gains the telephone bJj.fW
a resu t of tlm .-! ... '? .u"")i u
throughout the country. The J. Hi
ciilty Is to guess bow longC 41
.,' .". ;""". miuuia me n .ITM
mrougn mo exhaust on of nr. I""
nntlona which at present nnn"-0 W
remote the stimulus of forela V"
will fall and unless ,ieri.i.J?JHt
vision occurs In the mcantlm. ill. 7 "
try will again be confronted with I t0u'
illtlona existing before the Z
At present, however, the oulliri ,
brloht for nnnthrr i ;:... l "r
Ihough every ship bring, ,non?2
nmounts of American sewrMltij!'!
liinope the market appears to h,,iiM
with esse. Vhcther all theVe haveCl
sold, or are to be sold, Is not .h.JiVi
known. International banker. L! $1
cent on this point. Some broker. L, -I
to believe that many of tl, M
nro being nccumulntcd on this ldrvSJ
purpose of collateral for furthir ?J?4
penn loans, ""' EM
There hns been some rather persistent
selling of Cnmbr.a Steel on the local Lx.
chntigo throughout the week. Tort' tho
slock vvn agnln soft, nltliough offerings
weie not rnitlculnrly large. In some
quarters It Is said tlin'. the liquidation
hni been for the account of Mr, Donner,
who, nccoidlng to rumor, lins dlaposcil of
most of hli extensive holdings In the
open tnaiket. Whether thl report has
nnv bnsls In fact or not, It looki as If
some one had been selling consldcinble
blocks of the stock, taking ndvantdfre of
the merger rumors nnd general mnrket
strength
The local Hit as a whorb ruled fairly
linn torlny, Thero was n decline of a
point In Pennsvlvnnla Salt, and Itnpld
TranRlt also fell back on small sales. The
.iwoaiirn mi t lie, tnltpr wns attributed to
tho fact that Councilman Segor Intro
duced his resolution In Count lis this aft
ernoon for a universal 0-cent fare. On
the other hand, Lehigh Valley Transit
was In stions demand, advancing n point.
Otherwise price lluctuntlons wero very
narrow Tho bond department continued
to bo lelatlvely much moro actlvo than
tho Flock Hat Keystone Telephone f.s
were the outstanding fenturc, ndvanctnn
from !Mi to nbovc D3 on heavy buying.
PHILADELPHIA MABKETS
GRAIN AND l-'LOUIt
WHEAT. Ilecelpl lOO.IirtJ huali. There wns
a Rood demand sml the mnrket ruled stendy
timler molenite nn"erlniti ejuotattona: Cur
lotc, In export elevator Xn, J, reil, eppt nnd
Jnniiarj. l I1HI..I.I .Vo 1". Southern reil. 1.2n
Milt, etenmer No. 2 re.l fl.i'frl.ti .No 3
red. It.'JVtM.W, retoctcd A, $l.U.Vii;i.!!ia.
rel"Cteil II. ?l 24S1.S1I . , ,
COI1N -IUclnt. HISS bueh. Th( market
ruled ateaili, lint trnite wns nulet Quoin
linns Car lots for loenl trmle, ns to loeitlon
Weatrrn No. -1 jelloiv. llflR-ic.: do . steamer
vellow. Kitne-ltie . do,. No :t scllon. snjl2c.'.
Southern jellnM. S01JR2c : cob. ner .0 lbs.,
N'"! . ., ... u...,. -..
UAT.1. liecrinil. . ,-hi.i-,! . uuaii. w..t-,..
nere il'slit ami prices further advanced He.
under a fair demand Quotations' ,?'. ,
white, ,VHf..1Te.: atnnilanl nlilte. "".3C"
No .1 white, Mtl.-iUee., No. -J. white. nwMc.',
imnuile, oats. lt)4.Mo. . nurltled oils, arsded.
"rLonfL-neeelrls. SKS hbls nnd TJSSM
ll.s. In i-nelc. rtiere- wns little, trarit-.r end
the market wes lsrgely nominal Quote;''",
, in, no., niniiKiii. jir. r"'","A. ',..- .,-..
.ntent Jute aaeks. $(U3Si)j3. OT nsr, lire!
teir. Si! iflWil nil ilo. etmlRht. 0fJ(l 2.1; do .
..,..;, ,!.., in ,in. rmnrltn hrnnda. fit si
l7,21,'clty mlllii. choice nnd lane' patent, MSI
ifT'.'-i. city mills. reRiiIar iirnile;rVvlnter, clear,
si .-.onr, no, do. tr.ilBlit, ?., 001302.1; do.
intent. $11 l",n.70. . , ,, ..
llC ri.Ul- was quiet tiutnrm under light
nfferlnKe. Wo nuoto nt $3 .'lOfftl per lbl.. as
to qualllj.
PROVISIONS
There was n fair Jobbing Irnde nnd the mar
ket ruled nrm. tjuotntlons. City beef. In setB,
tmnkeil and nlr-drlcil. SIQ23e., JVetern beef
Hi rets, smoked, -l2:,c. cl y beer, knuckles
and tenders, amoked and alr-drlcd. .UBJic,,
VVestxrn beef, knucktci. nnd tenders, amoked.
.'Mr.'7e.. beef tinms. SSSfllO. uork. Mrnlly,
$.1'.."0-it2T: hntna. S. I" cured, loose. l4V-j1iloc.;
no, skinned, loose. 13l3'c.. do , do. ainokcd.
lilSMlie,, other ham. smoked, city cured.
03 to brnnil und nieraye. imvaiTc.: hams,
rmoked Western cured. lC'WITe.l do . bolted,
honelc-s,, 2He., plcnle alKRildcrs, S. P. .cured
loose, misc., ilo.. smoked ll'6J12c.: bellies In
rli-kl", ni-enrdlng to nvernsc. loose, 12l-ujO.:
breakfast bacon, as to brnnil and avrraue,
city cured, f.fiirc.: breakfnat bacon west
ern cured, lMtlbc : lard, VVeatern. renncd. In
tierces He do, ilo do. tubs, lie. do, pure
clt, kettlo rendered In tierces, lie.; do, puro
clli, kettlo rendered, In tub, lie.
REFINED SUGARS
Tho market aa quiet nt quoted rates IXc
flners' llat prices Uxtra fine granulated,
", sic: standard sranulated, r,.lOc. , powdered,
,, 'lie , confectioners' A, ri.T.'c soft grades,
51(3 COe.
DAIRY PRODUCTS
IirTTlin Demand was sufficient to ahrnrb
tho limited recclpta of fancy atock. miIiicm
of which were atendlly held. I'ollnwlng nre
thn uuntatlons VVeatern fresh solld.pneked
ircamery. fincv specials, .tic, oxtrn, lie.;
extrn lirata Hlfl2e.. (lrats, V'Snuc.' aeenndr,
2-,5(.'7c, ladles. 2!5?i!e. nearbj prints fnncj-,
17c , n enure extr-i. 14 ii tile. , firsts. 2H I2t.
seconds, J"i5iJ7c apeilnl fancy brands of prints
Jobbtnc nt 40 I le.
i:ci(!S I'emmd was only moderate, nnd
prices declined tl per east, under more
liberal offering" Quotations In free cnies,
nearby extra. .Uc. iier doz , nearby ilrsts, ?ll
per standard cane; nearb curivnt rerelpts.
s,70 per ease. Western extra lirata, V in'r
tase, tin , tints. $s.7l per c.iro, fane, selected
limited eggs were Jobbing at MtlSic per
e'Ht'Csn. Choice stock sold fairly and ruled
nrm under light offerings hollowing Bra tho
quotations: yew York, full cream ... .
laiici "apeclals" ' lilinVri "i '&"? l.
he Id. 17irfisue , An. Vlll .1.'' .f,Jr to Be
POULTRY
. 'I,VE--rCho!co stock ruled stead, i, i,.J$
eai'al ,0 the moderate orferlnes SmSSSP,
ISR.. t0 "' nntl nuallty 1 0 1 ScT? '
l3V(fjc., spring chickens. accorJlnl? tV)3! 4
lftiiltic : turkeis 21t22c. I ducks ? 1Matr.
nnd iiualltv. lSai7e.. geese. l&Bi'it' Jlf
ouotatlona: Kreah-kllled, dr.rickffSS'
& ,0-b;u,5L5,T",.t'1- .'W . Mleetet lJ&I
do., weighing ,tH ns. nnteee, ilt !lf
nelghlnir :i lbs. apiece. lVc.: rtn "-.M;
j:e. lViJITO. Fowls, n hbls . drr-BlckM-nSlf
?S'j ,.". and overnnleee, lsUc: smaller Jffi
If.jflic. Old roosters, do-plckerf. fie effif;
ens. Jersey, fancy broiler.. 245i.giS;v
neirbv fancy broilers. 22B2lc,: VVssistn RS? i
---T' rv i"(i uiiiri.T. .nwxf s.a a
em Illinois, fancy jellow chickens, ntlrffij, '
lbs. nnd ner. In boxes. CflflSlc ii L'iim
wegling 2J4A lbs., In boxes. lSftlfe'-It
n-lclilng 2tjf".4 bs In Mil. , UfiYse- c& M
-Silll'.' ( clht- Western, we ah nr 2i43u iS" M
!',' '.f!-,.."5"e.t"er V?es.erlitK;l
."sm i iuw. . in uiiia . liivTioc.! infer or u. 1.
Cniiin. v''ghlng sin lbs. splSe? sihstA'
do , s uiK slacs, 2.1020c. Turkera ii,;'.
fj. ncy -uisse , o . "do . ROOj "S 'aSSJ
II.. W pwtorn fr.n
00..
?llV A. 'j.
cooj t, cholcp. S3025C.. do., fair, 2M$l
liiSOe, Spring duckn nrarby, lff20e . iC.
v t-1 s ev li
PVff. -nfbMi
v4.ifd:i iitft'a
",,,l, v,r ""a.ir t
-. nriroy, IGISC.: ,'
- -.. -- u - .- u'luaiua. ijci uuLaaiinntc
nelnMnt II, 12 fts. oar dot, UI0ij8
white. welgliliK 0 to 10 lbs. per dot. 5!
fit white, .weighing 3 lbs per doi., I3,7M"J
,io.. op, t ids. per uoz . nn m: do., aaia
Willi; lbs. per do., J MVfr2.7v, dark, RaS
".73: small nnd No 2. SlifM "v " ,
FRESH FRUITS
Trado Mas fair nnd values were well 101.-S
tnlnrd on iholeo stock of moat descrtptlmie -
Quotations nere es followp Apples. rr
bbl Jonatbin. famy. t.2",rl SO- in, fVtr
to mod, f .' r.O'ii.T: Mcintosh, tin I CO: VWnmiv '
v.. .... ... ,, imo.i ,.,,,, r. .",, ... ,, limes IWIZ. ;
2 mnra.2".. Grimes' Golden .'.50fi I: Ortrilnr.,'!
.'!: ritiDln. '!. lien IUvls. Ii7seini-
other vnrletles. J1.30B2 so: Ko. 2, Ji.tosijo, 11
applet, in bulk, per ion lbs. fceilo-
ni,ple. Western, per box. Jl.2".rii 2.",: orarrn, i
riorlda. per ernte, tl.7."5ll. taneerlnts, JTor. "J
Ida. per strap. J'-'iCl. grapefruit, Fierldi, rj'
crate. 12.3021.1 30, lemons, per box, l1Cl:rlnA'
apples, per crate I'orto ltleo. J.'."0'A1 i,. nr..t.'
11111 ft.ai.'.ou, iranncrriea, i.rfpe i-ou, per ml,
fJiill: do.. Capo Cod, per crate, JiW3. it.;
Jersey, per crate. s2.23R2.73: atrawMrrlet,
1-1. l.l 1 rtftt nl "e-.IJ I . ., A
(, iuiiuiii (let ivi aui wvi Mt 1
VEGETABLES &',
Th irrneril market was nultt and nllliAetil'l
Important ch inse. Quotatlnna: VVtilti juii'.f 4
toca, nr bush. $lffl,'.ii white wimif)
Jersey, r-e- bisket .no. 1 Hunt, uw.uc: .lJ
other varieties. In7()c.. No. 2 'Oa-iuc.. j
potatoes jerse, per naaket .-u. 1. -. 1
0. . i.,f,ii,ic. snt-ci poi.iinrs iirainiSf m
bbl. Sl.rtrif 1.73 onlnni, per tou-lb. bJC-N, I. 3
f.'.'J",II-.73: No. 2, 73c.i1l 23, rnblmse. DlUdvr
per Inn, $Mn. lelery. New ork, ier buiirfi,-M
1'iVIUe., splnnili. Norfolk rcr Lbl , V.eilSflE
knle, NoriiUK. per nui. uinii-n,, leiiurr, rici.i.
Ida. per basket. JliM r.u. do.. North tXt;
Hun. per hiekt, 73e.fil . do . Texas. W
b skct. I0R73C. beans, riorlda, per ts!ie
11..iO'i.i. neaa, riorma, per Daiati; ..
PiTPcrs. l'lorld.i, per isrrler. M2 , eo-,
plant, riorlda. per crate. ..' 2-ill2.7.1 nut,,
ruuma, per -i 10. oanei i,x,u
LONDON STOCIC MARKET I - '-sc in Oil Storage Rates
Extension of Treasury List Reduces
Business in Americans
LONDON, Jan 20 American sccurltl'.
on the Stock Kxclmnfio were Idle tod... ,
with prlco chnnces mll TI10 cMcr,
-.1 nr thn T,niir.. list tn ' - lor Issuer
lias reduced the ordinary busl-.ess In tnU
marl.et to nominal proportions.
A steady tone prevailed In Canadian
Pacific. This stock has not been Included
In the Treasury list, ovvlnB to represen
tations from the Canadian Government.
Pending the bertlnnlntf of dividends tho
home railways Broun rested. South
American rails showed Improvement In
snots. Tho gilt-edged section waa juiet
but irregular. Other departments were
steady. The Dank of England announced
that Us reason for splitting French loan
certificates beyond the present week was
due to the fact that small bonds are
now abundant.
Philadelphia Savings Fund Year
The annual statement of the Philadel
phia Savings Fund Society, as of January
1 191C, shows that on that date tho Insti
tution held deposits aggregating i:3,522,
S21, an Increase of 1,312,113 over January
1 1315. The number of depositors on
January 1 this year was 2SI.8I6, n gain
of 1760 for the1 year 1915. During last
ear 42.170 new accounts were ppened.
The society's Investment assets on Janu
ary 1. 1316, had a book value of 9115,417,621,
of which S0,ti7,62l was in railroad loans
and J35.299.475 In public loans. Ilonds and
mortgages held were valued at' 314,669,1)85,
real estate 3155,000, and cash on hand was
37.177.777. making total assctsof J137.749.487,
n,. -.n,iMv.nl fund nr Mtirnlna fttnnrt nt
312,227,166, compared with 111,331,233 on
January 1. Wis
1 . .. ....-.
- r nni' Tnn 'in itn v niirwiHi inn
iW Vll j, dUlli -W. 11" "- --- ,
-ti ... ........ .. l.nn n nnnltltr1 Oil InPfMa
' 611 VUIIipilll Hi. Hiiiiutiiavu "" " I
I in pIpcaKe rntca on ciude oil from 20 vk
i .; cenia n nuriei, cntm i
1 AltliouKh the collection of oil ts strlcUfJE
Intrastate ljuslness, tho new tariff nj
neei. fllert with tho Interttnte CommcrcJ
.! rt. -....... nl nt tfi rntfci
conimiasion xnv uinv.i " v j
by tho commission is noi neccauij. "v"i
over, nceoruins i a Bwucmci.t. j -;
National Transit Company. The burden
.. in tl nn a-lfinl- T!Ii
or me increase win im w J""fc , 7
whom oil Is transported througg the i:
iionni iranaiv uumimuj
ELKINS, MORRIS & CO.1
BANKERS
Land Title Buildinf
Philadelphia
Michigan Railway Co.
lat Lien 6s, June, 1919
Guaranteed Principal and 1
Interest by Commonwealth
Power, Railway and J
Light Co., by Indorsement .
II IT
KLKCTION NQT1CKI
NOllTllWIMTKHN NATIONAL UANK
I'hlladelDhta. I'a-. January 18th. 1010.
At a intetlnpr of tha Directors held this
iy the followfnf officers were unanimously
23
Hnv the
r EDVV. A. SCHMIDT, Prealdant
OTTO C. WOLF. Vice Frealdent
LINFOUD C. NICE, Cashier
JAMES MOOHE, Asalatant Cashier
HUBY n. VALE. Bollcltor
FHANK II. MASSEV, Notary
LINFOHD C. NICE. Caahler.
LINt
vviiti
dJpt
al?E
i,SS bOUTIIWAHU NATIONAL HANK
lizSr phllsdJphla. January 17th, 1016.
At the Annua Election, held on the 11th
Inat., tho following atockholdera wero elected
Dlrectora for the enaulng- year;
Edln A. Merrick ilorrla Ilosenbaum
FenllnandV. Ilonnaffon Kaii.utl 8. pannon
John U Harper (leorso V. ISchoch
William A, Hamilton Ceorse Anderson
William It. Hortz Samuel Hamilton
William S. Furat Harry Green
William W. Foulk- Joseph C. Trainer
rod, Jr.
At a meeting of tho Directors held this day
JOHN II. HARPER, waa appointed Chairman
ot the Hoard and the following officers were
''preolilent, WILLIAM W FOULKIIOD. Jr
Vice Prea. FERDINAND V BONNAFFON
Vice Prealdent. SAML'EL B. DARMON
Poilcltor. WILLIAM 8. FURST
Notary WALTER II Hl'MMELL
'1'ho following appolntmenta ucre made
Caahler, WALTER J BTSINMAN
Asalatant Caahler. JOHN W COLEMAN
WALTER J STKIKMAN.
Caahler.
Yield 5.50 fo
9
Vv'v
Lehigh Valley Rwy. Co.,
of N. Y.
1st Mtge. iVifo Bonis
Due July. 1940
Pilce on Alipllealln
m
IJlIIECTOItVOl AtTCOCNTANTS
CextlUed I'ubllo AccouttanU
' LAWRENCE E. BROWN s CO.
Itll REAL ESTATE TRUST BUI1.DINO.
ItUatNS i. sPjJAKMaVVi
Tba Meuo
Bond Salesman
Experienced? clientele Pfc"f
but not necessary. Must wio
bonds. Young, live and capab e
of adapting himself to
methods. Unusual opportunicy
for a seven to ten thousand dol
lar mail. B 13, Ledger OBct,