L I
If
1
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53
EVENING rEPGBR lHII)A"DEIiPHTA,J SATURDAY, JANUARY 22, 1916-
FINANCIAL NEWS
CONTRACT OF $25,000,000 FROM
FRANCE FOR INDUSTRIAL ALCOHOL
Buying of Coppers Induced by Strength in Market for
Metal Recessions in International Shares
fc.fc. Reflected Foreign Selling
NEW YORK. Jan. 22.
About the only news development this morning to net as a. market fnctor
Wts tho published statement that United States Industrie Alcohol had received
a $26,000,000 contract from the French Government. Tho room traders, who
had much to do with yesterday's advance In this slock, expressed the opinion
that with the news out there waa no further reason for their buying and that
element turned to the selling side. Ab a result the stock, which had opened
2 points up at 168, quickly dropped to 160, but rallied G points on a resumption
of accumulation by what was supposed to bo syndicate brokers.
The strong copper trade position Impressed Itself enough on some active
speculators to Induco buying of all tho copper stocks at tho opening. Then
Utah Copper rose over 1 point to nbovo 80 and a further fractional gain
was made In Anaconda, which crossed 88.
Other copper stocks made fractlohnl gains at tho start, but In this group
also outside speculative buying continued absent and before the end of the
first hour theso stocks showed the same sagging tendency that has been the
causo of so much comment In tho past few weeks, while the metal has been
advancing dally to new high record prices.
There was only one active railroad stock, Now York Central. Tho early
buying carried Its prlco up M to 1104, but as In the specialties tho gain was
not held and within a Bhort time tho price was down to 109.
These recessions, especially In stocks with nn International market, un
doubtedly reflect the continued foreign supply. Since tho arrival of the)
Tuscanla nnd St. Paul at tho beginning of tho week there has been a steady
supply, not only of stocks like New York Central, Anaconda, Utah and Union
Pacific, but many specialties llko S. S. Krcsge, May Department Stores, Stude
bnker nnd Willys-Overland have been coming on tho market through the samo
houses which were nctlvo In finding a market for them nbroad a few years ago.
Mercantile Marino Not to Cut Donned Debt
A member of tho Preferred Stockholders' Committee of the International
Mercantile Marine Company said today that tho report by it largo stock
brokerage house yesterday that It Is proposed to make tt cut In the bonded
debt through tho expenditure of $20,000,000 of the treasury cash and to glvo
tho preferred stock 150 per cent, nnd tho common 30 per cent. In new common
ntock Issuo Is without foundation. Furthermore he stated that no meeting
between the contending Interests In Mercantile Marino was scheduled or took
place jesterday.
New Haven Handling Record Freight Rusiness
Tho New Haven Railroad Is handling the heaviest freight business In Its
history despite tho crnbnrgo. In tho first 10 days of January tho company
loaded In Now York nnd received loaded from connections G5.774 freight cars.
This compares with 47,381 cars In first 10 days of January, 1015, -show lug an
increase of 8383.
More Gold From Abroad
The steamship New York, of the American line, arrived In New York this
morning from Llverpool with 27 boxes containing gold In sovereigns, amounting
to 135,000, consigned to local banks.
New York Hanks Loans at New High Mark
Tho members of the Now York Clearing House Association today established
a new high record In loans, tho actual figures being $3,279,322,000, an Increase
of $15,462,000 over last week. Deposits exceeded loans by $95,628,000. Illustrating
tho present abundanco of banking credit.
WHEAT IRREGULAR
IN CHICAGO MARKET
Freer Offerings From Argentina
Reported Export Sales
1,000,000 Bushels
CHICAGO, Jan 22. Scattered selling,
duo to an easier turn at Liverpool follow
ing a strong start thero, was sufficient
to weaken ho wheat mnrkot here this
morning. May started 4 cent lower at
$UW and July cents off at $1.234. Tlio
weather In tho crop country as better
than had been expected. The closing
found May U cent higher, whllo July
was off the same amount.
There was a good demand on the do
cllne, however, and the mnrket rallied
Freer offerings from Argentina were re
ported, and freight rates thero were re
duced because of an Increase In vessels
and rumors of a fair release of bottoms
by Great Britain and Trance.
Shipments from Australia for the week
were estimated at 1,2M,000 bushels. IJx
part sales In the last 24 hours were about
1,000.000 bushels.
The receipts at Minneapolis and Duluth
today were 413 cars, against 312 cars last
year: at Winnipeg 32S cars, compared
with 124 cars, at Chicago 71 cars, against
83 cars.
Corn was easier on clearing weather In
the West and a setback In the market at
Liverpool, where Argentine offers were
larger and cheaper.
Leading futures ranged an follows:
lest a s
Wheat Open. High. Low. Clone
May 1-12 lA 1 .'IH, tl.ajv.
July l.SMi 1.2H 1.23 M.231,
corn mew delivery)
clone
1.1KM.
1.23
May 7M,
July 78'i
Oirts .
Slay SIJ,
July 40'f
Lard
January ....10.50
May 10.RS
July 11.C0
Ribs
May 1L12
Pork
January ...20..V)
Way 20.73
Bid. tAaked.
78
70
4U';
7R',
78V4
M
OK,
7SVi
7SV5
fa
lli
t7f
70
10 8T
11.00
10 AO
10 77
40
io a 10
lfJI- '10 75
10.77 tl0 05
11.17 11.10 11.10 1107
.. 20 31
20.00 20 50 T20BO
20 O0
20 no
COTTON FUTURES FLUCTUATED
WITHIN NARROW LIMITS
Temperatures Again Reported Above
Normal in the South
NEW YORK, Jan. 22. Buying by spot
houses of near months was the only fea
ture of trie coUon market at tho opening,
ftutiness was small and operations gen
erally were mixed. Tho tone was steady
with prices 3 points higher to 2 points
lower. After the call a small Increase
In selling caused declines of about 2
points from the Initial levels, but there
was no Increase In activity and the mar
ket had a listless appearance. Liverpool
came 4 to 5 points up, or about In line
with expectations. The market was quiet
but steady, according to private cables.
Temperature continued above normal
In the South this morning. The map
showed heavy rainfall in -'rtually every
section of the belt. The receipts of cot
ton at the porta for the day are esti
mated at 15,000 bales, compared with 25.
701 bales last week, 67,309 bales last year
and 36,323 bales In 1311.
The market became very quiet on late
dealings, with prices working several
point higher on covering. In the absence
of any particular selling pressure. Bull
ish advices regarding the position of
pot cotton in the Southwest probably
contributed to the firmer tone. One
despatch stated that buyers were unable
to secure cotton In any considerable
quantity below 12-cent basis middling In
the Interior. In the Eastern States the
advices were more conflicting, but did
not suggest any general weakening on
the part of holders The local trade
appears to bo expecting a bullish census
bureau ginning statement on Monday,
showing the amount of cotton ginned
during the first half of January. '
Yea. class. Open
12 111 12 20
17.11 1Z3D r; w
U ..i 12. MJ
12.IIT 12.71
12. U
1-7U
January
ilartb
Hay
July
CMobr
Decs inter
Eat
12 31
12 121
12 as
UM
12 JO
HlxO. Low Close.
li.JJ 1 U 1Z..1J
12 SU 1'J.XI
12 5.1 12 37
12 KS 12.72
12.73 12 tM 12.71
1Z.7U 12 NJ
. . 12.33
12 81)
Liverpool Cotton
LIYBitPOOIv Jan. 22 Spot cotton to
day wo quiet at an. advance of 12 points
on the. Jtala Of 8 12d, for ralduplandg. The
sales aggregated 500(1 bale. Including 4000
tulea American. The Imports were IJ.OGO
bales, including 11.000 bales American.
The cnaricct or future closed aulet but
ua(ly at a nt advance of S points.
New York Bond Sales
."000
UHIt)
linoci
linani
2000
loin
irsw
I'ono
21 AO
mn
mono
-into
soon
tnoii
win)
isoon
147Vi0
mil
now
Hinn
3:.oort
won
120(H)
1II(K)
UKM
IfJOO
10OO
2W0
.MIOO
14(100
1I0
20OO
7 1 OK)
21100
10000
21)0011
.101X1
.1000
wo
lom
2IIOO
1.000
lino
2000
Hmm
2OO0
lonoo
loon
2000
moo
2000
looon
loco
woo
KHIO
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n
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loo.)
3'tflOO
lonn
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won
1MHIO
2UOO
4(nn
2000
loco
BOlX)
1G0O
1000
100O
1(100
Utft
1000
1000
2401 l
4nr-oc
4000
20OO
1000
10IMI
1000
21000
MVI
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101 III
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200H
looon
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15000
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4000
r
SOCO
Bono
7-.00
67000
limn
norm
20GO
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2100
40UO
11000
loon
3C00
170W)
sao
.'.OOO
10OIO
woo
ioa
187ou
looo
4 COO
2O00
inch.
Albnny A Sun .111 . 7i,
Amer Art ." .. . lo.'i,
Amer Cot oil 44 . nirl.
Anglo I L 3s IimJ
Amer Hide tt I. Gs.lo.IS
ArKfntln 3s .. .01
Amer Tel clt 4s 02
Amr Tel cm 4Hs in
Aimour vo 4Hs
Aclitnon ndj 4s
Atrhlfon c 4s 11)00
Atrnison .is
Ff!X
ni'.
i
Will,
1011-j
lit
I,ot Close
7
102.(
mil,
on;
loi",
II
112
107.
M
K7
lonv.
1 jii
lai'ij
in
112
107
m,
lIHHj
zona lUiR
an Co Line 1st 4s III'
i m unio .ivis
l (v tnin in
t & Ohio c -IU
t O Hwn 'lt.R
urin oirci jpi ..a
Iltth Slrvl rlil .In
llrrw.1 lli.r. H- m Ull Q flu,?..
Hrook I'n Civ 1st 3s Ui lon-v, ino
v anaai olun -rt
Cent Leather 1st 3s
in.
lUti 02
H1H
1I2H
mil.
102
101H lot'j
lis
sr.ii
HIS
HSlJ
1121,
iai'J
102V.
100'.
Vnt I'nclflc Q4s.
er i
loiiv.
liil,
111
ss
11.1
10'
Chill Coppi
Cties & Ohio cv 4V4s
ties k Kjnio -t'l
Clll & Hnst 111 Os
Chi fe E III KUar t c 3s si
Clll fit West Is ... 71
Chi A. W Iml Us . 1071,
Chi II A Q Joint Is . 'WvJ
Chi II ft 1 gen 4s . . m
Chl Mil tc ft ! itcn 4s n.1
fhl Mil ft St P div 4s n.1
Chl Mil ft St P c is lo-ii
Chl Mil St P cv 4V,s.102i.
. Ill 3V I Al AC 3 I1PD OS l"Uj
lOtl
101
111
SH
111
101
Rl
71
107
isis,
111
D2'
III
10-11,
1021,
Mi
linij
io:;
1111'
104 V,
1111",
R.l,
1.11
W(
II
101
Rl
71
107,
III
in
m
loot.
lrai
Clev Fh I.lnn 41S
iodh lias to us .
iomput T.ib its. ...
Del ft Hud rM 4s..
Den i. nio llr 44s.
Din Secur Corp 3 .
.Crls cen 4s . .
1- rla i-onv 4s Per A
J'rle conv 4s Per II .
Krln I'a col 4s ...
Orsnby Hta Oa
Hud ft Man In Ss ..
Iowa Cent 4s . . . .
Ill Cent rfd 4
Ins Cod cv Os 1911).
do cv fls
Inlcrh Met 4'4s
Interb n. T ref ns .
Int Mer Mar ct 4ias.
Inter Paper (Is . .
Jap new O S 44s.
do nnv 414s
Kan city So 1st .la .
do $k
Kan City Ter 1st 4a
LackH .Steel 3s
do Ss 1023 . .
I.k Shore deb 4s 10.11
Iwh Val Coil 5s ...
Minn ht 1 S S M 4s
Mo Kan ft T 1st 4s.
Mo I'ac 4s
Mo I'nc cv 5s ,
Mont l"ower Ss ....
Nassau Kleo 4s
N Y C I. S 3Us .
N V ( ft Hud 4s .
N V C ft Hud 44s
N Y C tls . ..
N Y City 4s 10W ..
N Y City 414s lOill
N V City 4Us 1110.1
N Y' ft Queens .Is
JT Y Hwy ref 4s .
N Y nwy adj 3s
N V Tel sen 4ds
Norf tc West 4s . .
Norf A. West cv 4Us
Nor Pac prior 4s .
Paclflc Tel Is
f'tnna 4s 101$ ....
Penna Ken ct 4Hs ,
Penna 4s loon
Poco Coll 5s
People's Gas 3s ,
Publlu .Serv N J 3s
Iteadlns- sen 4s ..
Hepub Cuba fts 10OI .
Hep Ir ft X 5s
Hock Inland rM 4s
HL I. I M ft H -!
Ht 1XS F rfd ct sta 4s a.1
toot;
12114
Kl
RSI,
10714
.'II KS
. RnW
1RI
1R.11,
. 7Vli
li'H,
innj
.102
. rn
ROW
7IH4
. Illlj
. Hi
102
01'.
mm
mi,
4VV,
no',,
. 711,
. Ill
Oil,
lin:
nsw
iniJ
107
1011.
74 J
ion.
102
in
Sill
'!
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nn
?n
. 07U
u. nrjv.
HCi, in.'ij
""4 .'"'
i.-ii;
SlUj
IS
77
72
R1S
ss.
1071,
.ins.
121,
Rliu,
1R4
1R4
7.11.
IKI
10(1
102
7-IH
hn
701;
11 ill
RR
102
nsi,
oili
M.1U
ni,
3
7.1H
7RV,
in
04 J,
11S
llRli
ion,
107
mil,
74;
.11114
ns;
1
mi
R.11,
"S
Rl
77
72
Rl
RS
10711,
.11 MS,
521,
RfH4
1R4
1"IH
7.1
ti-ll,
lonij
H'2
711,
snu
711'-!
mi;
KS
102
0,
om
ioiu
&
4W,
IllltJ
7m
7H
in
11 OS
1117
IIR',
04
lint inn,
01 04
lonil innu
W, isii
St I. I. it M O .It
Reaboard A I. ad 3s
South Hell 5s . .
South l'ac cv 4s
do cv ret t p 3s .
South Pac rfd 4s .
South Ilwy gen 4s
do con 3s
Tenn C ret t p Ss .,
Texas Co lis
Tokyo 3s
II 8 nubber Os
U S Steel 6s
Union l'ao 1st it ..
I'nlon Pac cv 4s, . .,
Un Rwys S V 4s
Va Car Chm 1st 3s
do Os
Va llwy 5s, . ...
Va Ilwy ft P Ss
Wabash 2d Ss . .
Wab- ! T 1st ct 4s, ,
West Elect cv 3s, ,
West Union 5s, . ,
Wlscm Cent sen 4s
1021.
81
71
. 74
10.1U
.lOtl?
.81
41
. W)U
102
OhJ,
. 01s
ion!
S7J
02
111
Mll
RII1J
inn,
ml
tMW.
r$
lis Hi
'W
17
0O1J
7 1
10J4J 1024
102
OS
R'HI
RIlJ
noii
IUI
lifiV,
1171,
r.i
70
111
lli21
II.I
101)',
RIM,
10iV,
no-;
11
105
iB
IOIU
o"
45
nii
io2;
oit!
101 101
7!i 87U
121
101
ion;
071J
v
01
00
11 VI
87'
HIW
21?
Total sales, JS.008,000. compared lth,
II.23S.OOO lust gaturday) this week, $72,681,
000; lost week, 133,108.000.
Spot Coke at $5
PITTSBURGH, Jan. 22. Sales of spot
furnace coke, amounting to 1300 tons,
have been made at $5 a ton, an advance
of 75c. This Is the highest price, reached
since 1303. The contributing factor to the
abnormal quotations is the car shortage.
Fourth Swiss Loan
BERNE, Jam 22. The Swiss Govern
ment U preparing to issue a fourth loan
of 100,000,000 francs. It will offer for sub
scription bonds bearing; ib per cent. In
terest. The proceeds will be used to cover
the cost of the continued mobilization of
the army.
BAR SILVER
To quotation of commercial bar silver td
Va&Kd He. to Slke, la New York loAy.
New York Slock Sales
lust Close. lllSfh. low. ClW.
BJf mi 0f 9
21
27
tWi
03
P8
2.1H
27
69
GO
02H
084
24
27
69H
60
63
0S
Alaska JnocsQ.
Abska Odd M 24
Allts-ChalmcM Mfj..., 27 H
Am Ae Chemical. ... 60
Am tlect Sueaf....... C6)(
Am Can., . 62!(
Am 0 A F , 60)
Am Coal rrodncU....174 17SH 173H 173!
Am'nido A Leather... 11 11 11 11
Am Hldo A h pf 64J 65 55 65
Am Ice SccutltlM 25H 255i 2,iJf 25'f
Am Mnsed 23 23 23 23Jf
Am Iocomotlro 0-tJf fll'f 04J 61H
Am Smoll A Ref 103'f. 104 101 104
Am Smelt A Hef pf...!13lj 113 113 113
Am Smelters pf A ... 02J 03 03 03
572t
67 57J4 57J
111 113t- 11314 113SJ
127H 127U 127M 127'
62! 53H 52'f 62' I
03
-OH
88W
05!f
05
80
2H
180
f74
705 i
32'f
or,
07!f
cm
87M
65W
PS
mi
65!f
Am Steel Foundries
Am Suear Iteflnlngi
Am Tel A Tel . .
Am Wool tr r
Am Woolen pf tr r.... 07
Am 7. l, A Smelt 69
Anaconda Copper 87!t
Aoclatcd Oil 60
Ateh T A S F 100JJ 106?. 100H 10C'
AtchTASFpf 09i 01 09JS ODJi
uamwin Loco 100' 101U IO")1 lonij
uaiumore & Ohio .... 045 i
TJalllmore A Ohio pf.. "0'
natopllas Mining 2JJ
nelhlehem Steel 48
nrooVlvn nip Tr .... BO'S
nurns llros S5U
Hullo A Superior 76'f,
Cal relroleum 32
Cal relroleum pf 0514
Canadian Pacific . ...175! 175
Ol'f
80
2
172
87'f
81W
75H
3HJ
05
01'
80
2?
172
87'(
8114
7554
32
Cent Leather Co Ct
Chewpealcc A Ohio... 0.1'f
Chllo Copper 2354
Chlno Copper 54
Chlcaro at Western .. 14
Chl at West pf 3854
Chl Mill A St Paul... 100
Chl II I A I'ac
Cluelt Pea A Co pf .
Colorado Fuel A Iron
Col A So 1st pf
Computing Tab ltcc.
Consolidated (las
18
5.3'f
04
23J4
6454
14'4
3S54
1005
17'f
17IH 174U
6354 6.Tf
ft!
23?r
61
1454
3S54
0954
17JI
23!
61
ll!(
.'18'4
01)4
17'f
11154 HI! llH.' Ill:
4054 17 -lO'i 40H
61 M
55
49
62!
MM
19U
f.Uf
6J
1I24 H2'f 14254 14J14
Corn Products Itef .. 22J4 23'4
Corn Products Hcf pf. 99 OS
Crucible hieel 07 C74
Crucible Steel llOU 110
Delaware ft Hudson. 15'1'f 151
Den A nio Grande l.lf 11
Dltlllers Sec Corp.. . IS 1854
Dome Mines 27 27U
Krle 39't 10
Krle 1st pf 6054 501f
Krle 2d pf 6')'4 6tlVi
Fed Mln A Smelt . . 3.T, 33W
Fed Mln A Smelt pf.. 61 65f
General Klectrlc 171 171
General Motors ISO 185
Goodrich I) F Co 7154 71'f
Granby Consol 85 87TJ
19!i
1
07U
(jl!54
no
161
13
47
2754
3034
60
6054
3.114
i
21f
07'f
r,U4
110
151
11
47'4
27'(
39)4
fill
50)4
3314
5i5,
173U I731J
486 185
21
01
lOJi
75
104
lOlf
ol'
l'i'f
. 75' i
. in
.213 2l5l 212
11154 1114 11154 11154
O eenc-Cananea 47
Great Northern pf. ..
Gt Nor cfs for ore pr
Gulden Kxploran
Int Acricultiiral......
Int Acrlcultur.il pf. . .
Int Con Cor v t c sh
Int Consol Corp pf...
msp con copper....
Int Nickel v t cfs .
Int Nickel pf t t cfs
Int M M cfs of dp . . 21 2HS
Int M M pf cfs of dp. Sl'i S2'4
Kan City Southern . . 2SS 2054
Like Erie A West . 1 )'4 1355
Lake K A W pf ... 37 37
Lack Steel Co 80 7!)
Lehlsh Valley 7hf 78!i
Maiell Motors 07)4 67
Max Motors 1st pf ... 88 SM4
Max Motors 2d pf.... 52'f 6.'tj
Minn A St I. pf 20 2055
Mexican Petroleum.... Uljf 112
'I
87' 4
4S'i
1
87? 4
Wl
12354 12.1M 123)4 12.1M
47'4 17)4 47)4 1754
22? 4
5T
01
10'J
7H4
16?4
Wi
23 1
01
10U
7l'j
45?4
215)5
Mo Kan A Texas 054
Miami Copper r'8'4
Montana Power pf ..111
Nat Cloak A fault ... MT4
Nat Emm A S Co... 2fl'
Nat Lead Co 72'4
Nat Lead Co pf Ill
Nev Con Copper 1554
New York Air Drake. .150
N V N II A II 71
N 1 C A 11 n un
N V O A West 2M4
fi'i
:isv;
6' 4
3S'i
110)4 110
79' j 79?
275j
72' 4
115
1
81
2954
1)15
.)7
7')
78'
00' i
SM
52 53 'a
20)5 205
HOW 110)4
)!f
80' i
29
l.)53
37
79
78','
00
8S5i
05i
34
110
79' i
27'4
7H4
115
15'f
151
354 735a 73lj
11015 lOS'i 1091,'
28H 28U 2V
71 14
115
15'f 15)5
151 151
Norf A Western 11074 110'i ll'J'i 119)
.1117 1117. 1U'5 1117!
Northern Pacific,
OntSlhrerMtn 9h ll'i 0)4
Pacific Tel A Tel .-.. 4054 WH 10
Penn Itallroad 6S54 5S'i 58'f
Peoples Gas Chl 10S 10SJ 108'f
Philadelphia Co 43)5 43'4 4.t'j
Pitts Coal Co N J.... 31)4 3l!f
Pitts Coal Co N J pf.lOOM 107
Pressed Steel Car Co . 585, i855
107
Pullman Co 107
Cluliksllver O'f 0)4
quicksilver pf 75j 8
Ity Steel Sps Co 10'5 10J-s
Hy Con Copper 2l 25!,'
Iteadlne SU5 M7j
Iteadlns 1st pf 13)5 13'
Itepublic Iron A Steel. 5155
Ilepubllc I A 8 pf..,.10S
Itock Island 14
Ilumely M Co cf dp.. 12
31','
IIW14
58)4
107
0
7)J
1054
24'.'
S15.
431
51
108
St L A S F 2d pf
Seaboard A Line pf.,
Sears Roebuck A Co
Sloss-Shelf S A I . .
South Porto It Sub.
South P It Suj pf...
Southern Paclilc...
Southern Hy
Southern Hy pf ....
Standard Milling
Studcbaker Co
Studebaker Co pf...
'lenn Copper
Texas Co
Texas Pacific
Third Avenue
Union Hag A Paper.
United Cigar Stores,
0!
411
W(
10S,
13),
3l'i
107
5S54
167
O'f
-,'
105.
25
S1U
1 ! 'i
51
108
54
1155
155
111
00
210
7U
tins
7)4
0)4
United Dry Ooods pf. 70 70
Lnlted Fruit Co 1305 1.11
Union Pacific
U b Ind Alcohol. . . .
U 6 Ind Alcohol pf.
USC 1 P A F
U S O I P A F pf . .
U S Rubber
U S Rubber 1st pf..
U S Steel Corjn
10S)
l5 '5
114 11)5
'f 75 7 7
. 395J 3954 3')V$ 39)4
.lSIh 181 184 181
. 5754 fiS'i 5M4 58)J
.152 151 15J 152
.1075 107). 107)4 107J-
.101)1 101'i 101 1015
2 J 2 i 23
03?,' 01 Bill
90 95 90
2254
.. 03
.. 95
.153'i
.111
. 59M
.209
. 8
.. 01
. 7!4
9)4
15.IH 151
lit) 111
5915 594
20954 209)4
01
754
9)4
.0
7):
01
714
11)4
70
..130)1 1.17
.160 169
..112
','. 51
H3' 113
138),' 13S'f
1.10)4 13Ui
100 102
21)4
50
21
50
i;
X Ul
107i 10SH 10S
bl4 M4 8375
113)4
21)4
50
5 IN
108
S45
U S bteel Corpn pf.,.117U 117J4 117'i 117U
Utah Copper
Va-Caro Chera . . .
Va Iron Coal A 0...
Wabash
Wabash pf A
Wabash pf B
West K A M
Wisconsin Central....
Woolworth F W. ...
79
4W
CO
15!5
17)4
30)4
am
37)5
80)4
Klij
57)4
1575
1755
30h
6854
37)5
110V4 120
79)4
19
57
1574
47M
30!f
0754
37H
120
70Ji
495t
67
1574
4754
30i
L8
37)5
120
BAN BY SWEDEN
UPON WOOD PULP
BLOW TO BRITAIN
Reprisals Against Press
Critics of Blockade
Seen in Order
PRICE OP PAPER RISING
Total salrs, 201,300 tliarrs. roinparnl tilth
13:, 100 slmrrs last Saturday; thin urrk,
3,131,100 tliurt) last neck, 4.012.6UU shurrs.
FOREIGN EXCHANGE
NEW YORK, Jan. :i Ths foreign ex
change market opened generally steady,
nlth special strength In some depart
ments, especially lire, Tihlch advanced to
$53 tor cables and 6 53 for checks. This
Is a rally on tho movement from the re
cent extreme low of 67 Guilders and
sterling were steady. Business was mod
erate. The strength of the market was
attributed to forecasts of further receipts
of American securities from abroad by
incoming steamers. Quotations follow:
Demand sterling. IWu, cables, 4 76"j,;
franc cables, S.SSVi; checks, 5 8b; relchu
marks, 71?.74T; Swiss cables, 6.13;
checks, 5.16; Vienna, 116512 70; Stock
holm, 27.60627.75: pesetas, 19.1&13.15; guil
ders, 4lHK; rubles, 2D&20tt.
In the final dealings sterling continued
firm at 4 76 3-16 for demand and 4.7615-16
for cables. Francs were rather heavy
at 5 HM for cables and 5 iihi for checks.
Ileichsmurks ruled nominally at 71 and
7113-16. Guilders left oft at tlStlU.
RATES FOR MONEY
Call
in-
Jav Vnrk . ........
Philadelphia , 3HJl
Boston ., ,,,.,.,......,,, J
Plilm .. .......... 3&21
Commercial paper, three to six months, Phil
adelphia, UVvfr p cent.
Tjrns
J 8ft,
BANK CLEARINGS
Bank clesrlncs today compared with corre
sponding day last two years
sp 1915. 10U 1013.
Pblla. ... $30.-17.011 J2S.B32.4M M 074.71?
Bostcn .... 2,G54.00rt SI.00T.M3 7S4,1S8
New York ..1W.WJU.U17 313.78d.lS7 39l.0iW,M
By FRANCIS W. HIRST
fJdllor Tlie Economist. I.om!on
v Setrtnt Cable to the Eientng tedoer
LONDON, Jim 22 Since Wednesday
money hni heel) lci plentiful nnd rntes
firmer Tho bnnk returns shows a sails
fnrtorj' reduction of Treasury notes.
Quito a sensation ni caused by Swe
den's prohibition of pnper pulp exports,
which Is n reprisal In kind ngnlnst the
section of our newspaper press demand
ing pcveior blockade measures Tho price
of paper lias been rising ery BcrlouslJ
since nutiiinn.
My personnl belief li our blockade,
since November, has been far more sci
entific and dnninslng to German finance
thnn before, but Tlect street must have
sensations nnd cannot understand tho
theory nnd practice of foiclgn cxrhangei.
Tho fact la, the denial of ordlnan over
sen luxuries to Germany notild help Ger
man exchanges nnd German finance.
Probably Mr IMnnril Grey or Lord Itob
ert Cecil will explain this next week
Tho House of Commons Is unlikely to
follow Lord Northcllffo's lend, especially
as opposition to the conscription bill
gnlns ground In tlio Industrial districts
Tho depression In the market for Amer
icans comes from ur side Undoubt
edly tho Treasury scheme will bring out
largo holdings. One Inclusl of shares
xlttualb ended tho business of our Amer
ican Jobbers.
Colonel House's visit to Paris and Hcr
lln excites speculation
German newB Indicates a growing dis
content nnd nnNiety for the commercial
future
DIcus.slon Is beginning here about our
eoinmcrclnl policy after tho War. I hear
I.nncnshlrc still siippoits free trade
MOTOR SHARES
STRONG ON CURB
Trading Not as Active Oils
Steady, but Neglected.
Bonds Also Dull
Ni:V VOIIK, .Inn 22. In the market for
outside securities today speculation was
decidedly less active, although the general
tono was firm
.Motor shares continued strong, but
comparatively quiet, but Chovrolot mocd
up about 3 points' and Chnndlcr nenrly n
point. Thete was better support In White
Motors at an Improvement of .
International Nickel, on small pur
chases. Improved . DrlggB-Scabury
was Irregular. Submarine Hoot wns firm
but quiet Mldvnlo Strcl moved within
nairow limits Lee Tire, after a show
of lit mness, e.ised off Oil stocks were
stenl but almost neglected
Copper shuns wcio generally Btiong,
with 11 good demand for Kennccott.
Tlrst National moved up . Bonds wcro
dull but generally steady.
Tindlng In the common stock of the At
lantic Stoel Company, of Atlanta, Ga.,
when, as If Is.suod, began on tho curb
eHterday, the Initial sales having been
at mound 53. Tho permanent certificates
will bo riady for delivery In nbout three
weeks Thero Is $1,000,00) of the common
Mock outstanding, together with $750,OuO
7 per cent, cinniilatlvo preferred stock
ntul Jl.OOO.OOO first mortg.igo C per cent,
gpld bonds llninlngs of tho company
for the last fho jenrs have ncraged
$155 000, mid for the pcilod from Jan
uaiy 1, 1015, to December 8, 1315, tho net
amounted to $2.'0,O0O.
Tho following securities linve been list
ed by tho Now York Curh Mnrket Asso
ciation. 100,000 Carwcn Steel Tool Com
pany, to be traded In when-nH-and-lf-iHsued,
10,0fO common bharcs of the At
lantle Steel Company, par value $100, to
bo traded In whcn-as-nml-lf-issued.
INin'STIUALH.
Amcrkan-Ilrltlsh
American Mnrcnnl
All mlk Hull nrff
AJux Iluhliir Inc Ml
Atlnntli lulf A. W I S S
tlinaill.111 Car A. I'nllndr)
o nref .. ..
f 'liri roll t Minor C.ir
rtiimller Motor
1'ubiii t'anu Suk tr
Iurtlss Acroi
DrlKRH'SLiiliiirv ,.
Klnerson Phono
llHskfll K darker Car
Ilendei Mr?
Intirnatlon.il Merihant Marino
Interiiiittonal Minhant Marine pfl
Inter NUkel. new
Kelli sprlngllelil
K ithodlnn llioni pref
lao Tire
Mnnhaltnn Trunslt
Maxim Munition
Mldialo .steel
Otis elevator
Peerlcsi Motor
Toole KiiRtno & Machine
.Standard Motors
M Jnjcph Iul
S 8 KreiKO w I
Hubmarlnn float v t c ctfs
Trlancli Pllm v t ( tls
I'nltfd I'rorlt Sharing
II S IlBht &. Heat
1' H Light .1 Heat iM
vi'hi V'ntors vv 1
World Pllm
3TANDAIID Oil
Inter IVtrokuni .. ..
Ohio oil
1'rntrle lip
Did. Asked
:s
4
4.1
71'1
20
711
, IK)
LI-'
Hli;
411
l'l'l)
4!l
'-'S
-"
hO
r.l
Tin,
Ml'.
OL'
'.'H
111.
in
m.
4
41,
, 411"
SUUSlDIAItlES.
tl's
tin
..-f
.12
I'.
4111,
7Hi
MJi,
1
111
111
111
4 III,
Ml
IT!
1 I',
4!li
110
j 1
4
70
Hi
20
111
II
1.V4
HIV.
3S
111.
Ml
J'4
Ktanilnnl Oil of California ... .
.Standard Oil of New Jersey ... .
btandard Oil of New York
OTIICU t)IL STOCKS.
Cosden Oil
'Maimers Oil ....
Houston OH
Mldnctt Hcflnlng
bapultu
MI.NTNU STOCKS
Cerro de I'osco
Hulls C . Si t ctfs
llutte & N Y ...
First National Copper
Jumbo Extension
Kennecotl Copper
McKlnle)-Darranli
Mines of America
Mplsslnx Mines Co
Magma
Howe Sound
nONDS.
Ilaltlmore and Ohio 5s.,
Erie 4s
Krla rts
fat Paul 4s
MINING STOCK QUOTATIONS
,w,u,-ii oiuuiva,
117
..71 171
ruv 11s
S15 S17
171.
21 2111
. .. M fill
. . 0'. 10
... 30V, 37
. . , KV, ST.
. 1 5, s
... 11 is,
;.: .i ail
::: .,7!i ,S
0'. . U'
. .10211 102,
... fcOJT llO'J
.osS 00"
Im nutler ....
Mac?.amara ..
Ml.lv.ay ....
Mlipiih Ext .
Mont ina . . .
Northern Star
Ton Uslmont .
Ton Kxt
Ton Mln
Rescue Eula .
West cua
GOI.DF1ELD STOCKS.
Bid.
.02
.14
.20
.30
.11
4b
.77
!-..., a
Illue Dull ,
Ilooth ,,
fiulldoz ..,
COD
Comb Krac
Dlamondfleld II O ...
Daisy . ,.
TlorencB
Ooldilcld Cons , . . .
fioldflsld Merg , .. .
Jumbo Kxt . ,...,.,.
Ksvianas
METAJs MARKET
NEW YORK Jsn. 32-fpeltsr steady: prim.
Wtst.ro spot. I6he-. FtrauX. 18c: Uaxcb,
17fec. Lead firm at 0.10c. Ttsr was toad
buylat tot bth, doaustlc and torclia iccouau
Fairy Axteo
Klmoeny ... .
Nov Hill... .
Arizona Va .
Nev Wonder ,.
On
Sand Ken.
bllver l'lck ,
MISCELLANEOUS.
91
.03
.41
.03
.04
.08
.at
.01
.si
1.03
.IS
1.33
.20
ni
: :!?
. .23
.1.87
. .01
. .Oil
.01
Asked
,05
,01
.III
.22
.34
.17
.23
.05
.41
.04
.01
,00
.01
.0.1
.51
l.Oil
.20
1.40
.23
.03
.04
.21
.S3
1 7J
.04
.0
.03
NOTES OF THE RAIL ,
The Philadelphia and Reading Railway
Company has awarded contracts for tho
rebuilding of bridge 79 on the Wilmington
branch. The plans show a new six-span
concrete bridge reinforced with steel I
beams and will replace a wooden trtstl.
Sates in Philadelphia
Yes. close.
ilT Buff A Bus t c. 31
18I do pref ...... &7K
25 Brill J a ..... 30
C007 Cumbria Steel.. 75
M nice Storaite . RU
ll Ins Co N A. . 2.V5
237 Lake Bun Corp. 0
37 LehlRh Nsv ... Wl
200 Nnrlh Cent .. Si
442 Penna nn ... SV4
0 rhlla Co cum cf 4114
31 Thlta Kleo .
23" ricadlnn ,. .
100 ilo 1st pref.
on Ton Hclmont
1R Union Tmc
110 if O imp .
410 If R Steel
211 Welfbach Co
2R
421,
. 4i.
41
R4li
42H
Hlh.
3
(10
30
7(1
04 H
2.".'i
OH
78 W
SO
(ISH
iVi
2SH
4Vi
44
41H
00
sin
41S
Low.
51S
30
nx
r.m
21s
S4
7SU
S9
Ml
434
28
S1H
4H4
414
4-1
S1'4
84
414
Close.
38
BIX
81
74
04 14
21S
Oil
7SH
SO
11814
414
28
814
41'4
414
41'
00
M
4114
with
03,201
Total snles, B192 shares, compared
0209 shnren Inst MnitiroaTi uiifi ncrn,
.. .... .. 1. a. nn. ......
snnrrsj in. WCCH, niiuim eunin
honds
I.ASI pi-ev. sate. HlRh. tow. Close.
'.00 Am O fc n Bs . 02 02 02 P2
1000 Con Tre N J Bs.lOlH 101i 1014 10M4
27370 i:ic A Tco Tr 4s SU4 S21, Sl5 8I'
3000 Key Tel 1st Bs. O8I4 09',i 18 OS'S
HKKIO l R-cn 414s ..102 102 102 102
K10O Ilesd-Jer Cent 4s 01 01 OT
8000 Stand Ons Os 101 P8 08 D8.
Total sales, t.1l,07O. rompnreil wllh I2,
000 lat "ntnnlayt this week, 5709,030) Uot
week, ?001,400.
Local Bid and Asked
Tedaj's Ti'esterdsj's
Bid Asked. "Id Aske.1
aildnln in"! lnv, 1W 11" i
dnprof . ..... I" 10SJ4 liw 108C
miff. PUS tc 3715 381. 17i, 18(1
di. prer r.i ,v, rn .0
llrlll .til 30 40 3I .J11.
Cam .Steel 71 741, i4' ij
niertrlc Htorare 1H op, gt ';
Hen Asphalt ... II 31 M 31
iln pref . . 70 701, jo .0).
Kevstono Telcphono MU I4J. IJ JIJi
do 1 c H' U1. 1 1C-
do rrct . ... as 7 b-s 0
tke sun Corp . . nu ni, st, n'4
lohlKh SavlRallon... .78 7 .s .0
I.ehlRh lallev 78V. 71) Jsi, i0
LehlRli Valley Trnn . in j'4 in ti.
femiaP ........ .V.? r.sti nsij r.sa.
Phlla Wee 28 2U 28 2JU.
Phil I Co II 41 4 J 41'4
do ." per cent prer . 37 .11) 3i, "
do (1 prr lent pref . 4 IS 41 II 4 ,
Phlla it T 18X lij, IS . 1J
In tr ctfs 1 IJ, 181. isi,
Ileaillnir .... 8I4 K1H 8H, Sl4
Tntiolmh llelmont .. IX 4l-i 4', 4H
Tonopah Mlnlnir .. i; ';
I'nlon Tnietlon .. .. Il'i 41 41'. II
1 nlted (Ins Imp . . 1" H0. Mrt Hi)
1' s htcel . MX 81 si Hit.
lork llnllnnv . . H. IJ'l si, IJ1,
do Prer ... 34 31 14 11
Cramp to 78 78 So SI
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
Wlli:T ItcHvlpts 211281 buh. The mar
ket further nilinnccd le. under n Kooil demand
quoliilloii? far lots. In export eliintor Nn a
red, HiKit and January. I .I4W1 3U Mi,: South
crn reil $1 IJ511.II, steamer No 2 red. !.3lfe
1 33, No 'I red. JiaiHil U. rejected A, JI.SsKj
(ffl !"' relerled II, $1 271 21.
COHN -ilereipls, 4000 bush Supplies nen
smill nnd the market ruled sternly, hut trndo
nas nulcl guotatlons Cnr lots for local trade,
in to location Western No 2 ello. Sins. ,
Western steamer icllou R2l,4iHule Western
Nn. 3 ello, SOrts.'c , Southern cllow, NK
82c , cob, per 70 lbs , V0fl81c. . ,
OATS -Ilocelpts. H.7I3 bush The market
ruled firm and HWIc hlcher under llRht otTer
liiKS and n fair ilemnmi. Quotatlonii No. -nhlle.
,17ip-.Se . standird whIK. Mli'He. No.
3 white. IIH.ITe . No. 4 white. W4fl!IXc .
sample onls, lUHDSlc : purified oats, graded.
"llo'l'H. ltccelpts. 100 bbls end 1,471,417
lbH. In Kicks. Mill limits were nrml main
tained, but irado was nulct Quotations,
per 100 lbs. In wood Winter, clear. 1. .Oft
f; HO. do. straight, s3liwn.21: do. patent.
0 ITgtl 1 0. Kansas. cIcht. Juto sicks. 1 1 TSW
is 70, do., strnlRht. Jute sacks., 5.sin 10. do ,
patent Jute siclts ill'.flilll. siirlnB. first
cleir. J.I 00171 HO do. BtralRlit, rtrtn2a; ilo ,
patent, JO 2,flil.7.1. do,, laiorllo brands.
, no. tlt inllln, cholio nnd fancy pitcnt. J7W
7,'fl city mills, rcBUlar Bradca W Inter, clear,
f 1.109.1 no. do., str.ilBht, J.IWaO-..; do.
pitent, JII11HII70. ... t . ...
HIE n.Ofn sold slowly, but ruled firm
under small supplies. Wo quote J5.0OB0 per
bbl , n u to quality
PROVISIONS
There was llttlo tradlns but Ihe market
ruled firm. Quotations City heef. In nets,
smoked and air-dried. 24021c. : Western beef.
In rets, smoked. 21!t23c . city beef, knuckles
nnd tenders, smoked nnd alr-drled. 2Bffv7c.i
Western beef, knuckles nnd tenders, smoked.
201127c. beef hams, J2SJT10: pork, .family.
22.S0'rt2.1, hams, S 1 cured, loose. UHfrlSe :
do , skinned, loose. l.lfflBWc : do , do , smoked
17HC18c: other hsms. smoked, city cured,
as to brand and aierase, 1HJMI17C.; ham;,
rmoked. Western cured. lntMHTc. do. boiled,
boneless. 20e.. plcnlo shoulders.S. P. cured
looie. 1011c do., smoked. 11141112c.: bellies. In
ilrkl, nccordliiK to nieraKe. loose. 121214c.:
breakfast bacon as to brand and avenge,
city cured, lWlOc., breakfast bacon. West
ern cured, lBRliic. : lanl. Western, rcllnod. In
tierces, lie do, do., do. tubs, lie.; do, purs
city, kettle rendered In tierces lie; do., puro
city, kcttlo rendered. In tubs. lie.
REFINED SUGARS
The market was quiet but firm, neflners'
list prices Extra flno Kranulate. rts.io.:
standard Krnnulaied .100c. powdered. 10 e,:
confectlontra' A, .175c.; soft Krades, SfiS.OOc
DAIRY PRODUCTS
HUTTIiR Wholesale trade, as usual on Sat
urday, was quiet, but otTcrlnKs of fancy
Krades of both Bolld packed creamery nnd
prints wero light nnd nlucH of this description
ruled steady. Quotallons Western, fresh, solid
lucked cieimiry, fancy spt-i.l.is, .Irtc.. extra.
3le extra firsts. 31.IJc . flists. 20R.K); : sec
nnils, 2ti2Sc , ladles. 21S2c. , neaihy prints,
f.inci, 37c . a erase extra, 34iifli.; firsts,
.".0312c. ; seconds, 20f28c. ; special fancy brands
of prints Jobbing at 40B41c.
IHIOS OfferlnKa were ample, for require
ments nnd prkcH wera without important
cbange Quotations In freo tares, near
by extra, die, tier tlaz , neirb llrsls.
J8 10 per Btandard case, nearby current re
ceipts, $8.10 ier ease. Western extra firsts.
J" 40 per case; do,, firsts, $R 10 per case, fancy,
m lotted landled ctes were Jobbing at UdiMSo.
per dozen.
CllUriSi: Tho market ruled Arm under
light offerings and n fair demand. Following
aro the quotations New York, full cream,
fancy, held 1814c., "specials" higher, do., fair
to good, held, ny.filsc, do., part skims.
10315c.
POULTRY
LIVn. The market was quiet, with ample
offerings at former rates Quotations: Towls,
as to size and quality. ItiftlM!. ; rooster.
12S12V4c., spring chickens actordlnr to quail
t, intilHc.: turkeys 21J2c. duiks as to
size and quality, lVf17c . geeso !B1il7c.,
pigeons old ner pair, 2S(?28c., do, young,
per pair lSO'.-n.-.
DUEbSKD The market ruled firm with
demand readily absorbing the limited offerings
of desirable stock Quotations' Fresh
killed, dry-packed fowls, 12 to box, dry-picked
fancy, selected. 20c.; do,, weighing 4 lbs and
oier apiece. lOlie : do., weighing 314 lbs,
apiece, ISHc ; do, do., weighing :i lb, apiece,
17140., do, smaller le, 11S17c. Fowls, in
bbls., dry.plcked Fancy, 4 lbs nnd over
apiece. 10c. , smaller sizes, 13018c. Old
roosters, dry-picked, lie. Chickens, Jer
sey, fancy broilers. 24ej2c, : other near
bi fancy broilers. 22621c, Western broil.
ers. weighing 1V42 lbs. apiece. 22021c Nortn
ern Illinois, fancy yellow chlcktns. wslghlng 4
lbs. and over. In boxes, 20fT21c : do , do.,
weighing 2!ifc1ty lbs.. In boxes. 18810c.; do.,
weighing 2MS1X bs. In bbls , 17B18C ; other
Western, weighing 4 lbs. and over. In boxes.
ISfilOc: other Western, weighing 2l6m lbs.
in boxes. 16l7c. other Western, weighing
2',iQ.IVi lbs, In bbls. 15310c.: Inferior, 14c.
Capons, weighing MfW lbs, apiece. i'7jj2Sc.t
do . smaller sizes, 23t2fli., Turkeys, nearby,
fancy. 27&.J8C.: do., do., good to choice, 23
ftCHc,: do. Western rancy. 2ti27c.( do, do.,
good to choice, 33S25C.; do. fair. 203 22c;
do , old toms, 21c ; do., culls and No, 2,
UMi20c. Spring ducks nearby, 18520c.: do..
Western fancy. 17818c.: do., do. fair 10
good. 12S1&C. Qeese. nearby. 1-S18c. , do ,
Western. 11318c. Snuabs. per doz. White,
weighing ,11 to 12 lbs. per doi.. 15 iOm
white, weighing 0 to 10 lbs. per doi.. tt M&
3: white, weighing S lbs. per doz X.1.73H4;
do . do . 7 lbs. per doz . X.1QJ 30: da. da..
6S8U lbs. per doz.. 12 502 7.1; dark. J2.2JO
2.78; small and No 2, J1S1.23. JT
FRESH FRUITS
There was little trading, but offerings of de
sirable stock were moderate and alues gen
erally ruled steady. Quotations: Apples. pr
bbl. Jonathan, fancy. (.1236 1,10: do . fair to
good. 12 BOS I; Mcintosh. HfiJ.SO. Wlnessp,
1 Mifl.l -JR. Ualdwlo. tiums.in. IUack TwU.
$2.Boa 1.23- Orlmes' polden. -' 503; Green
ing. 1
ounce,
2 mi Diner iui.,1,.. v. wu. uu. ,,u
ei BO, Apples. In bulk, per 100 lbs.. -.V)c.
Oranges. Florida, per crate. $1 76S3. Tanger
ines. Florida, per strap 't,U9J .Grapefruit.
Florida, per crate. ti.tuu3.bO Lemons, pr
box, 4.184. Flnespples. Porto IMco. per crate,
(2 506d.23; do. rlorlda. per crate, 2aa 60.
Cranberries. Cape Cod, per bbl. 03ll; do.,
do. per crate $4 30ft I. do., Jertey, per crate.
12 2332.73. Strawberries, Florida, per Qt., 23
ff33c.
VEGETABLES
SUDpllea .of desirable stock were, moderate
and alues generally were steadily maintained,
but trade wu quiet,. Quotations While po
tatoes, tier bush.. 120 do.. Jersey, per
basket. No 1 Hose U07Oc : No. 1 other is
rletles. b0a70c.. No. 27 SOifiHOc. Swt do.
tatoes, JeCflrn,er.oVll,tNl.., 30c.s
do,, do., No.2. lSt23c. do.. Virginia, per
bbl.. 41 BOiSl 73. Onions, per 100-lb. bag. No.
1. ,2 2882.73. do., da. No 2 75c.CU.23. Cab
bage, Danish, per ton, S10. Coisry, New
York, per bunch, lSS40c. Spinach. Norfolk,
per bbtT 73o.fi' 2. Kale. Norfolk, per bbl ;
60SS5e Lettuce. l'lorld.tper basket. 11.5Q.
do.. North Carolina, per basket, 79c 011. do.,
Texas, per basket. bB78c. Beans. Florida.
w basket, tl 50Q1 Peas. Florida, per basket,
Um. Peppers, Florida, per carrier, l,7Sa
i 23. drgulaiit. Florida, per crate. j
.'5o3, York Imperial. la'J; Twenty-
e. S2fl3. PlBpln. 2il-1. Hen psvls. 1.7344
other arlefles, 41 6082 80: No 2, 11.2.1
DROP IN BUFFALO AND SUSQUEHANfcl
CAMBRIA STEEL UNDER PRESSURE
Manner in Which Financial Leaders Are Expand
Plntifa nTif! nreatincr New Comnanies Shmva fpu,.. '
Look for Continuation of Trade Boom
price, wherens this ume ,ha m . 1
swept on upward without hesltati. 5'f
congestion l,aa nlso been an
factor of late. n nntt
Although every ons agrees th.i ,.
ullt be a reaction In " 1 51, lS
nnd llmde when tho uar Is over tl'
no Indication, of an early ceU,.?'
the tltanle conflict, ami the, beSt JS1,";
Is that thl, country-fl bu.lne TlH
a prolonged period of erent ,,.,' "I
That tho big Industrial leader, li'i,1
th la B ev den! from t .' "'5. bt!IW
they nro Increasing tho '".H
Plants, building additions ana fLiVV
great new combinations. The, I.73?1''
railroads nre kcenlne i ul? . llntJ
vast qunntltlcs of new equipment infi'
It will be surprising Itthe wo, 2 H
minds ot the country should "e .''.''H
Except for some pressure against the
Buffalo and Susquehanna shares, which
drove the preferred off more than 3 points
and a decline of a little moro than a point
In Cambria Steel, the brief two-hour ses
sion In the Philadelphia Exchange this
morning wm extremely dull and almost
completely lacking In features. Nothing
new developed In the Cambila situation,
and the decline was accomplished through
the sale of only nbout 1200 shares. Later
(ho quotation became steamer.
Altogether the day's total sales wcro
only a trine more than BOOO shares, of
which Cambria made up about one-third.
United States Steel was unusually quiet.
There ban been a falling off In strictly
new business In tho steel market of late,
but this condition does not reded tho
attitude of buyers so much ns that of
the mills themselves, which have been
refusing to sell. They are In tie most
congested condition and aro even more
oversold thou appeared to be the case
at the end of December, it Is a signifi
cant fact that In the last three big up
ward movements In tho steel market nt
tho ends of tho respective years of 1D06,
I!00 and 1912 that the turn of this jcar
also brought tho end of the upswing In
wrong In their diagnosis of the
unua UUUUUK
Pretei
Bentnj
The local bond market was relitiut.
much more actlvo than was the ite.Vffi-1
today. A feature was the heavy km '"
of Electric and People's 4 t.-n?.i?l I
4V4s were nlso In demand, 6n hi " tff" '
hand, Lake .Superior Incomes "eree&V!
,iuYii m ,i V.U1101U a sa e. and hi..,::; 1
oas 6s eased oft from 101 to 5SV. "? J
stono Telephone G.i wr ni.n ..,r Ml'.s8
... .fu nun.
NEW YORK BANK STATEMENT
Substnntlal Increases Shown in Lonns,
Deposits and Reserves
NEW YOnif. Jan. 23 -All tho Items In
tho weekly statement of tho Clearing
Housr bankH showed Increase today. The
actual figures wero considerably larger
thnn tho average Items. I. onus Jumped
more thnn fifteen millions, deposits moro
than twenty-two millions, while nctunl
reserves expanded JA3&O.240.
Total loans wero $.1.271, S2S.00O. with total
deposits of W,3"iS,G!2,000 nnd total time de
posits of Jl.Vi.773,0O). Tho nggrcgato re
serve was rB.'.OSfl.OOi) Details follow:
Clearing lious members, alcrage
Increase.
r.cRlis S77I.000
Deposits 121117,1100
Time deposits B.MiaciQ
Hrierics 1J.72I.H00
Clearing house members, actual
Iamh Sn4R2.P0O
Deposits 22.nHii.noi)
Time deposits 2 Ii7 fHV)
Ilcscnes 8.3'Hl,2o
BANK CLEARINGS EXPAND
Total Average for tho Country
Showed Increase of 44.0 Per cent.
A gain of 419 per cent, was shown In
the weekly clearings of the country's
banks New York led with n 60 2 per cent.
Jump. Philadelphia was third, tho In
crease being 40.7 per cent.
Total clearings wero JI,50S,551,7D3, against
JI,57D,G63,SM last week, nnd ,112,B00,49l
tho corresponding week last year:
loin hub p. c.
Now York. . .I2.21B O.I0.OB2 11,111 O0J.7R.1 OH 2
llnston ... lR'.2S,0Ot HR,707,no4-flin
rmiQdcipma ,. iki,jiii,.i.i i.'.,iiiL',ii'rj
ll-lltlmoro S4.420.IIO.-, 2S 077,243
1'hKago .. r.0J.7Bil,.-.l.-i 2n.1,nsi,0wi
nt. l.ouis. . nt,., ..iuii ii,iiii,i,i
?.ow urieans
24,172,224
,S5,418
40.7
St 2
1 1.8
20.1
11.1
Beien cities,
B dajs .. ..M,117,202,G202,OIO,180,030&1.0
Other cities,
Bdaya 711,274,003 .',00,208,72320.0
Total of nil
cities for B
da j s 3,S28,B07,127 t2.B76.470.O53 48.0
All cities. 1
day 070,084,471 610,020.81120 3
Total of all
clllen for a
week tl.EOS S51.708 W.112,BOO,404 44.0
Federal Reserve Bank
The statement of the Philadelphia Federal
IteseriB Dank for the week ending January 21,
1010, Is as follows:
llESOUrtCES.
January 21. January 14
Clold coin and certi
ficates In mult ..J11.S03.305.00 J10.020.700.00
O o I d settlement
fund balance . . 8,813,000,00 8,002,00000
I.eiral tender notes,
allier, etc. . .. 8,247.41.2.0.1 4, B8I, 611.45
Total rescrie J22.rc.0.007.05 $S2.M3, I01.43
Commercial paper..
Hank acceptances .
Total bills ills-
counted a n n
J1S2.01I.2T
2,334.20.1.111
bought
J2..M0.109.SS
tf. S. bomla J2 000.40.8.7';
Munlclpi! wnrrants 2,0.17.402.n
Total lnicstmenla J.1.DI7.S70.8S
JI3o.010.00
Federal reseno
notes on band...
Notes of national
banks and other
Federal liberie
banks
All other sources..
J148.000.12
2.440 0.1.1 10
$2.S0B,193 32
J2.00O.4I.S.T.1
2.437.402.13
J5.4IT.870.bS
J674. 813.00
103,000 00
fcM.037.01
811,050 00
IhO.Olll 41
Total resources.. .J12.B00.P45.72 JJ2.501.077.00
MAniLITICS.
Capital paid In.. . J3.2t,000OO
It o s e r v o de
posits diet) . . . 2S,4S1,E03.08
Goiernment depos- ,,..
Its 401.B02.1S
nun to other Fed
eral Itcsene banks
(net) 1.203.B02B8 403,803.27
All other llabllltleai 330 08 :114.0
Total liabilities JT-M T-)0,W3 72 J32,B01,077.(W
COFFEE MARKET QUIET
J3,200,00O.00
20,823,302 80
302,801.30
Demand Was Scattered Price
Changes Narrow
NEW YORK. Jan. K.-The coffee market
opened steady nnd unchanged with sales
on the opening call of 3000 bags.
The coffee market continued quiet
throughout the first part of the day and In
absence of moro than a scattered demand
price changes were narrow, although the
undertone wan steady,
A decrease of 61,000 bags In stock at
Santos without corresponding clearances
to the United States suggested shipments
of that amount to Europe. Apparently
Europe Is taking a fair amount of coffee
right along, which serves to check any
Increase In stocks. The spot trade was
dull and prices were nominal.
Todaj'8 Today's Yesterday's
onenlng close close
, 0.884711.00 llHlSlflSll
HllSaiUl7 tl.b24nl.04
. ..7.0l 7.02frT.Ol 0 007.00
T.OBfiJ 07 7 02fi7.01
... 7,03 7 0S7 1O 7 0567 07
T.1IH7.1.1 T.ll!7.11
... 7.1767.10 7 1001.20 T.17fi7.10
.. .. 7 237.21 7.2Ur7.2.1
... 7.27 7.20B7.:iO 7 2IMJ7.28
.. ., 7.11S7.31 T'll7.33
, . 7.30B'7.41 7.30fi7 38
h i ' ,or, J-448T.40 7.42S7.44
Sales, 10.500 bags.
January ..
February .
March . .
APrlt
May . . .
Juno . ,..
July
August . .
September
October ,,
November
December
Offered.
PUBLIC UTILITIES
Ths New Jersey Board of Public Utility
Commissioners has dismissed the com
plaint of ten municipalities for a reduc
tion of the rates of the New Jersey Qas
Company, as the Commission found the
company Is earning a return of 6V4 per
cent, on Its Investment and Is not accru
ing: unreasonable profits.
Byllesby Electric properties, reporting
for the week ending January 1, showed
net connected load gains of 311 custom
ers, with 767 kilowatts lighting load and
H7 horsepower In motors. Output was
8,281,310 klllowatt hours, an Increase of
17. per cent, over last year.
The combined statement of the Georgia
Railway and - o er Company, Georgia
Railway and Electric Company, Atlanta
Gas Light Company, Atlanta Northern
Railway Company, Carrolton EUctrlo
Company and Suburban Gas and Electric
Company shows December operating
revenues Increased 160,358. The net gain
was 139,803. For the 12 months the gross
Increase was S168.473, and the net, 1213,416$.
T1MUKK STOCK
Will sell at par, limited amount 1 cum
ulative preferred stock lu timber company
having large holdings ot Paciflo Coast, tide
water timber, close to transportation. th
bonus of half share common stotk. con.
vervatlvely worth par. Timber all paid. for.
No Indebtedness. Splendid bank and uier.
cantlle reports.
It. C. MAnfOKO, CUr lds, lows.
Financial Briefs
J
No bid wore received by the Borourt'
.!.vi!lr". '-"'"n"'". i'n . for Its prorxNej
565,000 4 per cent bond l-nue, and tw
hnnrin mill hn nfr.l . , , , na tM
"'""' '" "- investors;
Tho T'ltnhliiirn t?ll,.n.,.i l .... .
Jackson & Curtl.t J1.2o0,0M one-year 5 e!
cent, notes, dnted February IS, 181. can.:
able at 101 nnd interest after three monttil
of the date of Issue ;
.
Copper exports from Atlantic ports for,
the week ended January 10 total 15toni
since January 1, 15,691 tons. ''
Commercial failures In the United states
for tho week were 462, against 153 U,tl:
went, isi inc preceding week and 711 ttif
gorrcipoiring wcck last jear. Iallurei Is
Cannda number 53, against 40 last week;
...u ,.i...u,Hb .ukii iinu oi last jear.
A call fnr 10 nor rent. tin. nnnn .w i.
tho depositary banks under tho terma of
tho Anglo-French loan, to be paid ill
me .-.nnonni uiiy name January 31, Thli:
mnkes a tonl of S3 per cent, of the loan i
lwucn nas Dcen caned so far.
The Globe and Rutgers Fire Insuranci
Company declared a atock dividend of (t ;
per cent. It will also permit sharchold-'1
era to subscribe to 23 per cent, of new
ntnnl. nt no. Tf la nlnn.hl I. H...- t
the present capital of JIM.0O0 to 1700,000. '
Tlfe Alaska Gold Mines Company will a
l.aiin ti r.nnivin in iili... c -.. ....... ...
benturen convertible at JW per share and
redeemable In threo jcars at 110 and in-;
tcrcst. atocKlioldera may subscribe to tb
new bonds on tho basis of 12 In deben
tures for each share of stock owned. Thi
Issue, known as series "B," has been un
derwritten by Ilnyden, Stone & Co. Thi
proceeds will bo used In connection with
power Installation expenses and other Improvements.
The Bank of England reports the?
amount of currency notes outstanding ui
91,181,470, against 95,233,233 last weet ;
The amount of gold l.eld for the redemp-J
tlon of such notes remains at 13,500,004
John J. Collier was elected vice prtsl-
dent of tho Northern Trust Company.
The Philadelphia stock list committee
rules thnt certificates of stock ol jOij
American Gas Company dated Febtuatr '
1, 1916, and thereafter to bo a Jellvery S
must bo countersigned and registered If'
tho New Jersey Corporation Guarantee
nnd Trust company.
Tho American Brass Company's annual i
report showed a gain of 1,678,107 In nel '
profits nnd a balance ufter dlvfdendiofj
$1, 178.454, nn incrcaso of J3.928.I07 over
39H.
Thirty-one railroads report for the sec-J
ond week In January nn increase in grosJ ,
earnings of Jl.621,278.
DIVIDENDS DECLARED
I.lt Brothers Corporation regular semiannual
B per cent, to stockholders of record February
1. 1010. pajablo February 21. llHO.
Flnley Acker Company, regular quarterly l
per cent, on preferred, pus able February 1.
Trenton I'otterles Company, regular quarterly
1 per cent, on non-cumulatlie preferred, pay
ablo January 2i to atock of record January 31
I... .. r-,itrnl repiilur nimrlerlv. t! ner ceoL.
pa j ablo February 1 to stock of record Ju-a
United States Casualty Company, special I
per tent., payable February 0.
RAILROAD EARNINGS
LOUISVILLE AND NASHVILLE,
1010 ll"""
. .. . ,1 itrflio 1 Hll 7.V)
necona hkk jitiiuur , ;i;"'.' ., ?Tn mi 1
From July 1 I1.42l.0.'0 2,710,517
KANSAS CITY SOUTlllinN.
December gross .... IgMJJ l
LIVE STOCK QUOTATIONS
chicaoo. ian s'-'.-"9gs'-:ri'5!',,t,fL'
i Ai:l,'.l.vTV.'o",VJ"nnri-n.i 'he re, jiaw
8 arfcilff TiT4f.ariT nt l dr
SI EI3I' ileeelpts. 1000 Market steao r
Name Tand Western. J7.B098 20; lambs, J8.M
llfll.
NEW YORK BUTTER AND EGG3
NEW YOP.K. Jan 27.-nUTTBn.-Marktt
Irregular receipts Mil packages; elra. Jyr!
hlVher scorlnir. 31c,i State dulry. SOflllc.
Imitation creamery, SSOilhc. . .,,. J
i;ooa Market firmer: receipts. BilijJJ.
aires extra ftrsts. a031c : firsts. 3'5rJ
n5!JnvewMte. afelikV? nearby brons. Uf ,
lie; mixed color, 20833c,; refrigerator "'-
lowiuc,
Ttlaa. In Tctna Trude Oil
A.. . nn nr.,... n-nfl f?0nl-
HOUo'lUN, Jan. . -ii" -- '-rth,i
pany has advanced the price of nonn j
Texas, crudo oil to ?l.: a ourre..
t
Charles J. Bender & Co.
INVESTMENT BONDS
Members Philadelphia Stock Eluu
421 CHESTNUT 5 IKfc&
ELECTION NOTICKS
l THE bTATE OF I'ENNHYHAI'IA
S08-3IO Walnut Street ...
Philadeluhla. January ."-."'fin
At the annual meeting on the ,17th "1'",0ri
foltoi"g stockholders ere l'au,DJJnSk.
Srr ,c'n.?i0U,irinV C'.CJFfa-
iSWrence T. Paul and W, W. Curtln.
The aiard of Plreclors, a now conatltUP".
- - fnllntua!
iq mm a,waswe
w --";"r.- T-
IMward S Bl.
JompU 8, FrdUubuy
en
Percy H. CUrk
Charles H. Krumb-
naar. Jr.
Joba II. ShrUlsy.
Ijiurcns it. Bo;;"Li
j Henrv Scatteao"
Walts Bllven ,
nustavus Rsmsk. Jr.
Itlchard L. AuatlJ
Lawrence. T. Paul
r " ' -
w. W. Curtln . .. .yl.i
.A".A fc1RSffl5.0A: '."Jnanfiy
.""i.T.:"'nn ,.V,V nVmk. Jr.. PwSl
ri
.F&Ti sytW'
:i;"VVn""&.:i,nT-?."j'HsnS ScaJwreHS .
VlZfl President. John J. P. "4fJ SSSuSl
amT Treasurer; Simuel P. Rodgers, AS-U--TJ
-" JOHN J. P- BODOm.
DIIIECTOHY 0ja4?COUI4JAN
Certlfled FnbUo Actoontanto,
. .... .-.- n nnnnlll 1. CO.
1-jLivuir.i.cj ju. ,... ,7, -,
JUG RKAL ebtate TBUST IlUlLPI;
itVMtij. SPEAKUAX