EVENING LEDGER PHILADELPHIA, THURSDAY, JANUARY 27, 1916.
14
n
FINANCIAL NEWS
LIQUIDATION FROM ABROAD HAS
BECOME A DOMINATING INFLUENCE
International Houses Supplied Stocks in Large
Amounts Some Specialties Showed Strength.
Good Rally in Progress at Close
High Points in Today's Financial News
tNew York State 4 per cent, bonds, $25,000,000, taken at 10.1.07, high'
est in several years. Issue heavily oversubscribed. There were 00 bidders.
First sale on Curb wag at 10.1 U2 ,laUr 10.1 7-S. Itulian lire declined in
foreign exchange market. Sterling alio easier. After selling off, wheat
oceanic strong at Chicago. Further advance in steel prices, also crude oil.
Dank of England discount late unchanged. St. Paul increased the divi
dend, declaring 2 1-2 per cent., and placing, the stock on ! percent, basis.
No announcement on proposed new steel merger after Cambria directors'
meeting. Extra dividend declared.
NI1W YOUK, .Ian. 27.
Trading ihirliifT tlio morality consisted largely of operation for the
OBRresslvo Interests committed to the benr side. Some of thefco Interests
covered shorts on a larRo scale, causing temporary tallies, hut new IIiipm wire
quickly put out and the manner In which the malket acted made the boar
Interests confident that they had price-movements In complete control.
Their oftoits were helped by the fact that hIiicu the hcRlmiln;; of the year
there has been no outside buying of substance for speculative account nnd
this left the market with little resistance when bear raids were lit progress.
There Is liquidation at the Halno tlmo by pools which had been enacted all
through the preceding year.
There was an Increased disposition to regard the selling to International
houses as the most Important factor In tho market during the afternoon
trading. Some of the largest houses which a few dayst ago weie aggressive
buyers; of Steel common and other Impoitant Issues said thin afternoon that
tho foreign selling had assumed proportions that made It a dominating Influence.
Mont of the supply thiough International houses was In storks like
Atchison, llaltlmore and Ohio, United States Steel common, Anaconda and
Union 1'ncIIlc, but other tailroad shares In the international malket were als.o
established at a substantially lower langc.
While this selling of st.iudaul lallioads and Induatiials vvnn in piogress a
number of specialties showed strength and Ciuclblo Steel, being In constnnt de
mand, ndvnnced from the low rango of the moniing. The Incieabo In the St.
Paul dividend to 21& percent., announced In tho last hour of trading, had been
partly expected, but was cffcctlo In causing a biisk iip-lutri In St. Paul, which
stocks. Including New York Central, I'r.e and Anaconda. The Inst named
roso about one point from Its low price of the early afternoon.
This movement had an influence, too, on the liadiug In a number of other I
stock ended with a substantial net gain over vesterday's final pi Ice. Industrial '
Alcohol continued to show a lack of support throughout the afternoon, selling I
down to 14",,i, a loss of more than 20 points fiom Its high price of a short time I
ago. Mexican I'etroleum was in better iicmnnu, nitiiougli tneie was no news
on which a mote vlsjoious demand could bo h.isod. Tho malket closed with a
good rally In progress.
Common Stock Dividend lnciused by St. Paul
The Chicago, Milwaukee and St. Paul Hallway Company declined a scmi
' annual dividend of 2 per cent, on the common stock together with the usual
semi-annual dividend of SVs per cent, on the piefoired. The laHt dividend on
tho common stock was 2 per cent., declared last July. Tho dividends are pay
able March 1 to stock of record February 9.
New York Stock Sales
Close.
2 Hi
20) i
78
OS
1)7
0
MM
1124
li(W
117)4
I0.i
ol'i
m
11)
CO! 5
27
21
IW
g:i
102JS
S'f
:t2'i
tni't
11 US
lit)
r,i'(
11.115
117)4
127
201
IDS
II)1 i
l.'l
07'i
87
01
105' i
mu
in
107'$
S'l'S
77!$
24
l(()
hl)4
SI'S
70
liO's
iu
liH)"
Ni'i
M
11(14
02
2 I5,
2,"
12i
Ilfi'f
HO's
131
1.1)
I'll)
17
72
11 IP
II1
II)
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21
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(.7'
111')'.
imp
pi"
i:.1
i
New York State I Per Cent. Bonds Go at 10:1.27
ALBANY, N. Y., Jan. 27. The successful bidder for tho $25,000,000 Xevv
York State 4 per cent, bonds was tho First National Hank of New York .it
103.27 for nil or none. Tho number of bids leeched for the New York State
.bonds was 100. The premium, which will go Into the sinking fund is JS17.S0O. !
Tho Interest basis Is 3 S5 percent. Sensational figures pievalled In the bidding '
and tlio price paid by the First National was the highest that has been reached j
In several years by New York State bonds. The issue was very heavily I
oversubscribed. The First National Bank announced that It had "old the
$25,000,000 of New York State bonds. Information rognidlng the Olivers was
not available.
WHEAT RECOVERED
AFTER EARLY BREAK
New York Bond Sales
Foreign Selling a Feature; May
Suffered Most Cold Wave
Report Helped Rally
HiKh
CHICAGO. Jan. 27 Wheat developed
flrmnyss toward the close on covering
today' after It lind shown pronounced
weakness The bearish conditions that
developed today were lntunsllled eailier
by selling of futures b foreicneis and
an attempt on their part to dispose of
cash wheat. Tho pressure was so wide
spread as to cieatu an lmptcs,slon that
previous bujlnjj uas not by stiong Intei
ests In the main Thero was a world of
wheat on s.do for May delivery .very
time the market shoned a moderate rally,
until late In the session, when It showed
stability, selling up to $1 37'8, after it hail
touched $131', It finished at tt.3lMJl.37.
against $1 2r'4 ut tho end estord.iy
Predictions of a cold wave, couplid with
tho fact that July Is less active than
May, and had a much smaller long In
terest to liquidate, prevented July from
sympathizing fully with May in tho down
ward movement. July also moved up
ward as tho session grew toward the end,
rising to Jt 279i and finishing only 'c. off
from the best at $1 .'TH, against $1 20'4 at
tho close jesterday Piivate cables fiom
Liverpool reported an easier market there,
but earlier messages s.ilrt that the Eng
lish market had turned Him after show
ing easiness at tho outset. Tho late
strength was helped by Indications of
some-Buying for export nnd on fears of
crop damago as a result of tho indicated
cold wave. A leading commission liouso
cautioned against following the selling
side any further on today's drop.
Corn closed firm Hvcn when wheat
was weak tho market showed resistance.
Weather conditions wero against the
bears. Tho market at Liverpool was dull
but steadier It Is said that, while there
are locusts In Argentino corn, tho situa
tion was not alarming. The corn there,
however, requires rain over an extenslvo
area.
I.eadlnc future fanned as follow a
Wheat Open.
llav . 1..U1
juiy , . ... i .i-4
Corn (new delivery).
Mrv .... 71)14 Vj.
July 7U. 7i
liatfl
mbv in, ki'j
Hluh, Low. Close
. IT U .ill . "Hr.
-i -,."H ""
J..J T1..CX.
"fir,,-"
Mar . .
July .,,
illba
January
Mar
July ...
I'ork-
January.
xiav
Wij lltt,
THV,
7M4
53
4!)
.10 SI
..lO.TV.
..10.7
11.0.1
. 11.30
, VIO.'IS
1.1 .u
Old t Asked.
10 63
10 R2
11 17
:o7o
10 51 flOK!
.... iiu.so t
10 70 10 KO
11.03 til U
estVa
close
l.JU',
1.2W
7!t
5.1 W.
11UV4
WfiT
10.73
10.7".
no-j
21 40
S0.4T t-M.U7 :
S0.20
2U40
FOREIGN EXCHANGE
NEW YOHK. Jan 27. The Foreign
Exchange market opened quiet and a
shade easier In tone for sterling. Dutch
exchange was barely steady and lire
worked lower. Quotations follow:
Pcmand sterling. 4.76 3-161.76i; cables,
4 76 15-164.77. Franc cables, 5.8614;
checks, 5 SCTi; relchmarks, 71&7I 11-16,
llres, cables, C.6SJ, checks, 6 691J- Swiss
cables, 5.17; checks, 5.18. Vienna. 12.5&8
12 53. Stockholm, S7.35S?7.45. Pesetas,
19ai9.06. Guilders, 43SQ43V5. Jiuhles,
The feature of the afternoon market
was a sharp decline In Italian lire. Lire
receded to 6.71 for cables and 6.72 for
checks. Guilders' declined to 43U and 43U.
Sterling eased off to 4 76U4 76 3-16.
ftelrbsmarks were quoted at 74 7-16 and
74H
HATES FOR MONEY
JVei York
PhlladeUibte
41otoo
f?bL?aica . .
flS&fWf
Call.
1V.02
34
S)tl
twr. three to Mx meotlu,
vr coi.
Midvale Has No Option
NEW YORK, Jun- W.-It i.as learned
frc.iu authorltitlve source today that
he Uuivale Steal aad Ordnaac Company
. JiAa, no outiwi ISA th Bloat at the Poole
r JEjttneerfijf OftiWiW, or have thr
oeen ame Heatrtwiwiif (or vpe ume,
S..0HO Amep Apr i'eh :
iji Amor i ni uii ,,n
Svi.vin AnBlo IV 1. la
.14X1 Anier 'lei nit
miiio ,iu et 4"-ja
11000 'Vrmour Cu 4'js
TIMKi AtLhiunn Kn In
llwo do -, . . .
2ND Allan Co Line lxt Is
hiho tin ilt 4s...
r.lNiii Ilrilt .V. Ohio -Hjs
lM4io do Is
HiGl iIj e I'-jS
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l.MKKI Clil . lton :iKs . .
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lion Mo Kan A. T 1st Is
L'h (I Mu Kan A. T Has
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4(H) N Y ! A. Hud Is .
7(l) N Y C A Hud H8 .
li.iiuo N y rent lis..
1IKSK) N Y City ,'I'is 11)I .
SiKHJ do Nov itni
K-CO N Y City Is lllS .
,.nn, . j LHJ S ill..'.
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8MIHO N V rttj li a lliiki .. til7Vi
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7100 N Y lty udj Sa ...
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r.iOO Nor I'ac prior 4s. . ,
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Hikhi do Kin it Ilia. . .
170(h) I'enna en 4V ....
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1(JI 1'iiu herv N J 5...
lnuio Iieudlnj,- urn 4s ,
I4KKI Ileiiuli Cuba ,V (i04
.TJIOO Jlep Ir A. S r.s
4'k-O Itnil. Ihlun 1 rfd In
4IKIO Hj .4U el hpr .la 1!i."i Im'J
urn ni inn iiu is
SlW Heubord A I. iidj la
'Ji-'ni houili Hell 'm
.'0(40 South l'ai (V 4s .
(IIIJ) do cv ret f n ."mi
.'4YH Koutli r'ne rfd Is
.um) houili Itwy Ken 4s ,
.-01(11 .South Ituv mil .Is
2000 Tenn C &. Ir ret t p 5a lai
Mioo Texas Co i.a KOK
3)00 Third Ave new 4s. M
:im Trl-Clty Is .. !')
UK) V a titecl 3a a f. .. lav
.rfK) ill, roi ln-llL.
2-r.oi t'nlun lie 1st is . . :nl
1XI Union I'uc tv 4s . !kl,
'Jlisi Union 1'ue rfd Is . . li
2(S) Va Car Chem 1st Ss in
likki Vn. Ilwy .'is . li.,
'mil Wabash 1st Sa 10 Mi
S0OH VUib-T 1st Lt Is . . IW
UOOO West Klec cv Js 1 tl
louo Wiht Union 4'tc .. . 1)14.
UVr,
i.svf
umii
h'i
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rflxi
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I" IS
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lirjij
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HI
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71
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107
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71
71
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104.
1171
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Total sales. $3)10.000, eoiii'iarnl hIIIi
SI,(,n.uOO rterila); thus fur this week.
SI(i.3.V.t,000 same period Iat ureU, ll!.-
RAILROAD EARNINGS
WBhTEUN MAKYI.A.ND
1UI0.
Third vck January.. .. lls.'.hftl
From July 1 . . . 5.U1U.403
SOl'TIIBRN HAILWAY
Third Hk January 11.217 474
Jirooi July 1 .... 57.uM.7tt
CINCINNATI Klfw OHIJJAN'S AND
Third tk January 1UI 204
From July 1 3.S0O.37U
SOUTirKJIN KAILWAY,
Dambr crow . . M.ll.87fl
N 2.1uA.a3U
aix ruontbs' Krws . 3..170.'Sl
Nft . . . . 1UXW.0UI
Increase
l,:''io.7ivi
1121 7BS
UZV.MU
3M.77U
U14 722
S.V,-3rt
1 011.217
3 313.610
BANK CLEARINGS
ceatparad with cone-
Bask clearing ltay ceatfi
uponJIag day Sut two yean
PWla. . . M7,I1S,181 iflsio.llS
mim
last elnff, IIIrIi. low
Alik.i J Oold M.. .. !)) Mi 9H
Alaki (Jold Minos .. 21 2' 21
Allli-rhilmoM Mfu ... 2(l'f 20H 25W
Allh-thalm Mfc pf... 7S'( 78 78
Am Au riiemleal . . OS'f 'tWi OS
Am As (hem pf .. 0"'f 1)7 1)7
Am lleet huifvr . . OflH 0 Vf 03
Am Can 01'( (Wi 0I
Am Can pf 112l 11H 11214
Am Car & Foundry . . mH 0714 CMi
Am car A Kdy pf. .118 1171i 117'4
Am C01I Produce ...107 107)4 10l'(
Am Cotton Oil ..."1" fl") nVi
Am 1'vpieis . 1'U 1H0 WO
Am lllda & .either . 10 ln'r 10
Am Hide & 1, pf . ... ,-A)li r,Vl fiO'4
Am Ico Sociirltlea .... 27JS 27 2014
Am Unseed 2I'( ai' '2.M
Am MikcmI pf H5i 11H -ll'S
Am Loromotlid 0)'4 0.1'4 0J!4
Am l.oeomotlro pf ...10J54 10.1 HUM
Am Mult 854 S'f HH
Am Malt pf ... Ill HJij ;t2'i
Am Smelt A Itcf.. . .101J4 102)f 10()4
Am Smelt S. Itef pf ..111 11 1)4 111)4
Am Snuff pf .. . HIS 110 111)
Am steel l'oumlrlM .. (V! B"i ol
Am snB.tr Uellnmi; HU'f WUi 11,1)4
Am siiKir Itef pf . 117)4 117h 11754
Am Tel A Til U7' 127'j 12"
Am Toll icro ... .20 1 20 t'X 20 1
Am Tol) pf nett .. ,0S IDS 10S
Am Wool tr r .... is' j II)1 i 18
Am Writing Ppr ... 12)4 Ul l.J
Am . I, a hindt .... 07'4 07' 4 07
Atiaromh Copper .... sn'i 87' 4 8,V4
Asoelaled Oil 01 0) 01
AtchTAS V 10.i)4 10.VJ: 10")
Ateh I' A S P pf . 0'.)'4 100 !)l4
Athntlc Co-ut Line ..I 111 11.) 1111
llahlnln Loco ....107 IOS'4 10H54
llalllmoro A Ohio . . 11014 III)' 4 .S')
llaltlmore A Old) pf. . 77i 77Ji 774
lijtopllii MlnlnR ... 24 2)4 2'4
llcthlehem Steel . ,1t) ICO if.ll
llruoklm Hip Tr . . . S0'4 8li'4 h'l'j
Hums Ilros . . . . M5 siij b'i
llutte A siuerlor . . . 77'4 77 7.Vj
tal Petroli 11111 .... HO'i !) i 2l)1i
til Petroleum pf . . . 02 02'4 Of 2
Canidltii l'.ieirii' . ...Ids', 10')4 11.7'f
Ca.e J I tr M pf sj,s si'f St'f
( ml Lea Hit Co ...".."1 61 Uj
tent Leather Co pf .110'i 110'4 110'f
( hesipealve A Olilo... 02 02)4 CIH
Chile (upper 2.1f 21'j 2P
Chlno (upper fit' i 5T4 5!'i
c lilctco C.t Wcst'rn... V'H 12'( 12'3
(hi (.t Western pi . . .'IliU :(1'( 30
(hi Mill A st Paul... IMS t)0, 0M4
( M A SH p pr ..mi m j Ml
(hist P M A 0 pf ..i:i.- 1.1) MO
(hi A Northwest l.ll'i llill'i III')
(hi It 1 Pw 10'4 17's KP4
C liii tt P.m .1. Co 7.1 7.1 72
duett Per A Co pf. . Ml HllV llO'i
( olorido Kuel A Iron. .IPh ll'i H'
Cominitlmi 'I all Hue., fit)' j fit) P)
ContlneiiUl Cm . . sO'li SO 7'l)
( onsolliijlnl (ioj . . .111)'! 110 Ms',,
(urn Products H(f 2.) 2l'-i 2-"i
( orn Plod Hef pf . .. !)7'J '("'a DU'i
( .udble St(tl fid' j OS I'D' J
(ruellih stul pf lO'UJ 10')' 1 10'1's
Delinare A llmLoa I"1 1.1I loll
lien A Hlo Cr pr . li)',' ltl'4 II)1 ,
Distil Sir Corpn ... 135 lfi'f ilH
Dome Mines . . .. 27'1.27'f 20 1
inn s s a aii .. .. r, r, :,
Dul s S ,V Alt pf ... 12 10 10
I.lec stnraiw lilt. . .0) 01 02
'rle .'1734 37'.' .TiJ
I lie lit lif ... ."il ol T.O'i
Iie2il pf .... flO'j is1 IS
lid Mill A sni pf ..-, .V2'4 .11l4
(mi Chemical pf ...lLJ'illO IK!
(ivmral Kl clrtr . 172 172 170'j
Cieneral Mntora . ..Isl) I7."i 170
Cuirral MotoM pf ...lt:t 112 112
Goodrich II 1 lo ... 70 70' j 0s'
Oooilrieh I! P pf ... 112 112' 112'f
dranlij ( onsol OUj KJ'i ill',
(ireeiie-Ciiniii'i IS'f -js'j 4S
(it Nnrtlu-m pf 121 12t'i 120' 1
C.t Nor a, for ore pr. I.Vf l.'iH U'i
(.UKgenhiliu Ktplor.111. 22,4 l'2i 22' i
Horn stake Mlnlnc . 12l)'4 12s1, y'l'-i
Irt lirrl-iilturil . . 21 .2 22
Int Audi ultur it pf ...r)')i ,V) .r)S54
Int'llirv N J HDJi 110 110
Int Co 1 Cor v t c sh. 1!) IS'4 IS'f
Int Coie-ol Corp pf .. 71 71 7.U4
lilt Paper Co .. ID'S 10)4 10' j
Int Paper Co pr 17' j 17 1(1
Insp (on Cop . . f. r, iff
Int Mekcl v t cfs ..210 210 2.-
Int M M cfs of dp . 2()'-4 20)4 P)
Int M M pf e of dp.. SO7; 81)4 SfP4
Kindt --oi.thi.ni .27)4 2054 10
Kan C Ity suuthcrn pf. dJ 01 lO'i
Lick Steel (o 7S 71)14 "li
Laddie (!.n Co . ...10") 10l?i 101'i
U'hish Valley . ... 70'4 70)4 7.')
I.lBBctt A Mjer- pf . 120 120'j 120'4 1204
Loose-Wiles lllscult . . 20 20 20 20
Long Island 21 21 21 21
Louis A N.isli 12d 12.V4 12"i'k 12.")1!
Maikaj Cos .... 70 80 70'J SO
.Ma(k.ij (os pf .... 07 07 07 07
Maxwell Motors 0SH tW 07 (iSJi
Mav Motors 1st pf . . SS 87 SO fell
Mav Motors 2il Pf. ... ,71'i ol .ri254 Wl
Mevlein Petroleum . ,101'i 10.1 II') 102)4
Mo Kan A 'leus pf.. 1.1 IS 1.1 1.1
Minn st P A s S M..122 120 120 120
Mi mil Copper ,'is .IS 3754 J75
Missouri Pacific .... itf f, m i,'
Jlol'ulflo tr cfs . ... 4'4 I'j li, l,
Montini Power . 70 7.1 7.1 7.1
Montana Power pf 110 111 111 111
Nil I.nim A s Co ... 20 204 21 2.1
Nat Kmm A S Co pf. (IIH 01 01 111
Nat lead to 0'J O'J'4 (M O')'.
Nev Con Copper. ... 1,14 1,1) j i,V4 1.1' f
New or' Air Drake .110 117 HUf HI',
N Y N HAH.. .. 704 7l't 7()H 7l'i
N Y C A II It HKi'4 107 10o)3 100'i
NYOAWest 28 274 2754 275),
Norfolk A Western ...117 117li 11.1H 110
North American 71 71 70! 71
Northern Pacific u.llf n.'Pj
Out silver Mill 8'4 s'a
Pacific Mall 12)4 12)1
Pailflc Til A Tel . 10 10
Pi nn Hillroad S754 .IMf
Peoples li is Chi 107H 107)4
Ptllladelphii Co 12)4 -12)f
puts ( oai co n j ... . ;nh :n) j
I'ltb (04I N J pf.. ..100 10754
Pressed s Car Co .... 57 50
Pullman Co itkUf 10D4
ijutcsilier (1 0'i
Uuicksllicr pf 8 8)4
Hj steel Sp Co ,19)4 fi)
ltj ton topper 2154 21'
Hiadlns 78 78)4
lliadiM: 2d pf 1254 1H4
Itepublic Iron A S ... 51 51
Itepubllc Iron & S pf.lOS 10854
Hock Island 14 jj
Hols Island pf JJ j;
HumUy M Co c' dp.. 1H3 hh
bt J.cuU Southwest ... 10 10
Seaboard Air Line.... 1754 1054
Seaboard Air Lino pf . a?5f .'5754
Stars Hoebuck A Co . 1S.1 815n
sloss-Shcf & A I 5S 5S5
South Porto It sus.... 150 Hi
Southern Patlfl- 10014 ICO14
Souther 1 Hy 2154 2l4
Southern Hy pf ....0154 0054
Sfindard Mllllne . . 00 ojjf
StaUebaker Co 15U4 152
1 cun Copper '. 57 5754
'Uias Co 201J4 200
Texas Pacific 7J4 7J4
'third Avenue 01 r,l)tj
Toliacco Prod pf ....101 101
Twin City HT. ... 05tf 1)5
Under Tjpewrpf ..11054 112
Union Has A Paper ..7 7
Union lias A P pf 2854 20
Uuitcd tigar Slows .. OH uij
United CUar Mfrs . . . 0.J Ollj
Union Paclils 131)4 ldl)i
Union Pacific pf 8.114 84
United fruit Co l.'j'j ins)t'
U b lud Alcohol HUH 15554
U SC I P AF ... 20', 20
United Kjs tnv Co . 1854 18
Un Kw Inv Co pf . . 3154 dl
U S Hubber 5.15 5J54
U S Hubber 1st pf.... 10754 10714
USbteelCorpn SI 4 81
U S Steel Corpu pf... 11854 U84
Utah Copper 79 7054
Utah Seeli 20
U 8 KxpreM ,.47 4. J
Va-Caro Chum 48 1744
Wabash 15 15
Wabuh pf A 4(5 45-5
Wabash pf 11 2014 2J54
Wet.trn Untoa Tel ... SJ54 8)54
Wett E A M 0M4 G7
Wtswn Maryland.... 33 27
W'bitoUfiirALE 244 3
W illy OvciUnd . ....212 203
WtoUgithFW 11W4 121 1J0J4 120
Total al. 703.200 hare, compared nltU
70l.'J9U ktutrea yrttcrduy; thua far tliU 11 eel.,
2,711,000 kliarra: aauie period lat week,
2.31H.8U0 bare.
N. Y. CURB MARKET
SUFFERED SETBACK
Early Firmness Followed by
General Shai'p Declines.
Rise in New State 4s
NIJW TOflK, Inn 27. Aftor a show of
BtretiKtli with fair nctlvlty the in.iikct
for outside sicurltlcs ntter the llrst hour
developed renewed venline8 on more
llbcrnl offerlnas In symiutlly vvltli tho
downward tendency In the fltock market.
While some mippoit wns In evidence In
spots, onlv feeble rnlllei were rrKlstcred.
The principal fe.ituie In tho nftcrnoon
trndlnp vvns the domnnd for the New
York State new 4i which moved up fiom
tho previous bid of 102, tho Hist cole be
lOB made at lolti. and (tulckly advan'ced
to 1K1'. The Urle 1i were iiffnln under
presvuro and eased oft .
Submnrlne Hoat nftcr a train of 51,
broke more than n point, Midvale Steel,
after movlnff up, loit nearly all the ad
vance; Canadian Car nnd X'oundry shares
were down, nnd Motor stocks weie also
heavy but less active l'oole KiiRlnccrlng
nnd Machinery, after an ndvnlice of li
points, ran orT 10. GrlKKs-Scobtirv was
down 2. Oil storks wcro somewhat Ir
icKUlar, hut Kenerally lower on a small
volume of denlliiKfl, while copper stocks
cased oft In sympithy with the bolnneo
of the list.
.Vmerlean Hrltlsli Mfc
.Vmrrlenn Mnrennl . ..
Illit AtUnl.
-Vmerlcnn (liilf pr .
Anierlrnn ciuir fc vv
i's's".'...
.Vlix llublier tne vv I . ...
(innillnu Car .V: I'oimilrv ...
Cnnmlliii Cur Si foundry pM
t'hev inlet. Victor Car
liuiiller Mutnrn
Citbiti Cane Sugar
CurtlHg Acrnplano V...
DilCKB.Heiliuiy
Ilmerpon I'liono
Ilimkell (5 llirker I'nr
Ilrnilen MnnilMi turliiR . ..
nier .Mcr Murine
il ) jiref
Inl Mike
.1(1
Ji'
..12S
. . Ilj'i
.. Ill
.'.'til"
. . I'J
,v'
. II".
. . Ml
.IS
1
71
11.1
l'O
III
mu
ll-l
I'J'i
IS
10
-'!
7'J'i 7J
I
.-.II
.Ml
l.'ft
1-U
111'S
:i
K)
02
o(.'
.12' j
IS
.11',
110
17014
170
112
l.'l i
112'j
OPi
IS
121
tl'f
12S'4
.1s)a
110
1SJ4
71
KH5
10
II
210
10 '4
81 h
20)4
01
70)4
101)4
112', 113
85. 854
l-)i 125j
JO 10
5754 57)4
107)4 107J4
U53 J2'f
3ltj .12' j
I0Q IOj'j
55 55U
103 IW
.Hi mi
7J4 754
.'is' 4 au
21 2I'4
7014 77)4
1134 41'j
50 50J4
108 1085J
54 14
H 54
1154 1154
10 10
1054 1054
:17)4 1)7)4
180 ISO
57J4 57J4
IIS Hi
100 1UJJ4
2054 20)4
00 00
0554 0J54
11754 150t
50)4 57
2004 201)4
. 734 7J4
GO 00)4
101 101
05 U.1
112 112
Oil 7
28 29
054 054
0154 filK
Ui3 134)4
8.554 8J54
13i5 1354
H754 151
1054 1034
1754 1734
a.(vj 3J5,
5134 52'f
107 107
82)4 8J34
11734 11734
7S 70
1034 10IJ
40 11
47 17
1434 1434
1154 45V4
2834 28J4
8) 80
0554 150
2531 20
3 3
00 205
nl iimi .
K'rllv Mm Iml'IIpIiI
I.'ii.linillf... tli.in.rt . mt ............ t
l.M- 'I lie "'4
Minlntliin Trnnrlt lv
ninvltn lnnlllnn S
MMmlK h!i,'l I.'IV II.
rerrlll"" MntnrH . . ,jj'i
l'oole I nqlne mill Mnelilnery Ij'J
St l"S(ih t.0.1.1 ;
S H Klrpce vv I I"
Munil Miitnm ?Ji
Siihnurliii. lit v t t'i '?
TrliiliBle I'llin v I r(fn I.J;
rnlu 1 Pioili Hlmrlni; In
P S 1 lolil 11 ml llent . . : N
I nlleil Slntes I.lKllt A. Unit I'M.... 4
While Moinra vv I ),
World rilm 'li
ST.VS'DAltl) Oil. St,llSII)I.MtIi:f.
Inl I'trol 12'i
lllliioN Oil ','
Dill.. (Ml .. ..,. 1'
-tmi'Hril Oil or California ;!.
Miinilnnl OH or Nr Iirney .... ,fi
.sunil.irtl Oil of New York li.i
OTHIIll OH. STOCKS.
Cos.len Oil 1J'4
riulmirs oil ',,
llniiston Oil 20' 4
Mlluest HellnlllK '
hnpulin I,vs
MiyiNii srocica.
Athnln -J
llutte c Z tilh .'i
lluttr Ne York 1 j
I'lrsi Nation il Copper i's
(!ol llleM Merser li
llnme Smuiil '14
Hi i In Mlnliijr .IS
llin ttutler 01
.luml.o i:tenslon J'i
Kitineeott Copper -,s
MiKlnlij-Diir.iKli 4(1
Mini of Amirl'M j
Nlilhis Mines '.
Kill T.iJ- ;1
r.t Ifuil Collsollil iteil !
West 17ml i:tenslnti I'j
Cerru ilo IMseo .17
110.VD.S.
llrle rlshts u
Krlo I "W'i "'
IKiltlmore .. Ohio ."is Wl Hi-'S
N V sum. V 4s Id-Hi K'l
.st r.mi is m ii
1SI
an
171
-.i.'
an
21
i's
1
is''
1.1.
nil
41
I'i
,V,J
SI
I
Financial Briefs
IZ A. Simmons vvns elected president
of tho Amoilcnn Sawmill .Machinery Com
p.mv hoard
The Pressed Steel Car Company elected
N S Itceder a director, In plnec of O. C.
Gnv ley. 'deceased J. F MiicHnulty has
been promoted to Oist vice president from
the position of second vice president. C.
i: Church was elected nsslstnnt secictary
and assistant treasurer.
Alba 13. Johnson, president of the Bald
win Locomotive Works. Is In New Orleans
for the third annual convention of tho
N'ational I'orelgn Trade Council.
The Ilaldvvln Locomotive Works has re
ceived orders for tho folovvlns locomo
tives: Two mogul type for Jonesboro,
Lako City and Kastern Railroad, ono
2-S-2 tjpe for tho Columbia and Nohnlem
Railroad, ono mogul typo for the Alex
andra and Western Railway, ono O-O'-O
typo for tho General Chemical Company
and ono mogul tjpo for tho Mardez Lum
ber Company.
C. D Harney & Co nnd Parrlsh & Co.
bought Cambria Steel. .
Spencer K. illnford, Jr., of this city,
was elected to membership of the New
York Cofrce Kxcliinige
The annual report of tho Old Dominion
Company, of .Maine, for ISlfi fellows net
Income of tl.SSMM or $1 71 per sharo on
Its 233.S53 shares. Dividends of $1,466,763
($j per shaie) wero paid.
Tho gioss business of tho John II.
Thompson Company In 1915 was approxi
mately Jii.OOO.OOO, an Increase of 10 per
cent. The retiring officers of tho com
pany have been re-elected
Today was tho lust day for tho deposit
of common stock of tho International
Mercantile Marine Company with tho
I'lilted States Mortgage and Trust Com
pany, of New York, the deposltaiy of tlio
pi otective committee, of which John W.
riattcn Is chairman.
After the meeting of tho Pennsylvania
Steel Company board announcement was
made that only routine business had been
transacted.
At the annual meeting of tho stock
holders of tho Commonwealth Kdlsou
Company, which will be held In Chicago
on February 23, tho question of Increas
ing the capltnl stock from $5O,OU),C0o to
JCO.OOO.i-iOO will be voted upon. Rooks close
February 19 and reopen February 29.
COFFEE PRICES HIGHER
Buying Scattered Brazil Freight Sit
uation Factor
NEW YORK, Jnn 22 The coffee mar
ket was less active this morning with
prices unchanged to one point higher.
Coffeo values were worked up 4 or 5
points, after the opening, on scattered buy
ing, although there was sulllclent prollt
taking to check bullish enthusiasm and
to hold the market within a compara
tively narrow range. The freight situa
tion in Iirazll Is the principal bullish
factor at present, and the cost of bringing
coffeo to America Is apparently being In
creased Leading . underwriters have reported
that there are several small steamships
loading coffee In Iirazll to tho United
States which are considered undesirable
risks, and shippers have been warned
that the marine insurance rates on these
boats, If acceptable at all, will doubtless
be higher.
Today's Yesterday's
January u 7 1427.1(1
r eoruary ... .
Sales in Philadelphia
230
10
I
inv
jui
ivn
Ji)
11
-V.il
ll()
J)
I III
J"
llll
NT
Id".
Ill
"
Ml
m
.11)0
int l
7
J II
1 'in
II)
1H
III
k)
10
lno
in
1171.
Mill.
II
mi
is
-.I1.
IS
II
7 IV
Yrx elose
Alllinee insur i'i
Am (Ins . .
Am Itillwais
Am Itwvs mil
iniiT . s t e
ilo nref
Drill J (1
v;nni iron.
Cim steel
l.lee HlornRC
l.no
(.en ArrlKilt .
Ins Co N Am..
Key tel Co . .
Ijike Suii Corp
l.fhlRh .S'nv . .
I.ehlRli Valley..
I ell Vnl ir
In pM
I. Ulli Sdnijlkl.
Mliml Copper
North Cent . . .
l'eiin TrnlTle . .2
I'.nni II It . . f'f
I'lill i Co rum pf II
l'hlli Hire .... '1,
I' It T Ir ills . is1
l'hlli Tru...
Hepl . S .
llenllns
Ten Copper . .
Toiiipth llel
I' SCI. I'
t'n Ion True
flnli Conner
Cnlleil tins Imp !l
U 8 fieri .. . Wi
SJ
.11
2 V
71.' t
Si1'
IS
S'l
-mil
41
711 i
IIlRll.
1:1)
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mi
411
UH
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IV
7 IT.
Ill
.'17's
.Ul-i
r&
isi
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jslj
'IT
1'4
2(1
111 i
tll'li
mil,
.si
Low
m
IJ'J
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fid
is
4-
7 It'.
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IKI'd
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til
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211
I I'i
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ClftM.
VII
12 1
J'I
tlVi
111
llJ't
IS
II.Jl
.jite
T 14
j',V
;ii'
T?
2S
isu
JH
Ml',,
JilH
ll
IV
III
1 1
i'i I
Ml.
FOREIGN SALES OF LOCAL STOCKS
HAVE BEEN STEADILY INCREASING
Rise in Buffalo and Susquehanna Failure of Cambri;
Directors to Make Any Deal Announcement
Set Rumor Factories Working
Totn! fnliK, 2l.no slmfei, riimpnrril llh
18,110 ulinren jrntenliivi tliui far (lilt me".
(1...IM ni.ire( mimic iienoil lnt vierh, B8,(!1t
Allure..
a.vii
I-ait prov
J 17IO Am fias 11 1
11 (Ji aurIo 1 renin
UK (I II . O ev 4'iji.
lout) Con 'Ir N .1 1K..I' 1
11)10 I..111 III (Inn I". KHI'ii
II0 I. Vnl K0I1I 4 I2'i
SiDAI I II Vnl II rrr ."11 III
Mm) I 'i nn 1 Bin t'ji'..t()J
M'H) I'u . .M HI Hi- I'll
' mi I'lilli Co mu ."m 'U
110 I'lill 1 i:iei In "t.1
IIKII ilo 11 . llll
2IKO tlfli; ext iiini 4n . .
.!), "Mtl-Alil I 111 I HJ
2(101) Volk llwv tut 1s HI
'I oliil Miles, SI, '1, 7(111, iiimpiirrd vilth Slirt.'JIlO I
.venlrriliu 1 thin fur tlili iel(, s.'.il.'jl'li Mini,'
IMrloil luil neelt, .MKII.IIIK).
.mil. Irfiw Cton
IK) III HI
mu pi' in'"
I(ili inl'j li'l'j
mm ion' 1 nii'ii
ll'Jlij PJ'j H'J'j
112 m'li iu
inj 10J iiu
tin 101 1111
pj 1 j iu
KM SP4 I'd
lllllj HM'j H'l'ii
117'a Ii7'ij H"'j
1IC 1UJ IIU
Olll HI 1 H f.
Local Bid and Asked
nun .t .ins t c
ilo prcf ... .
1 trill .1 C.
Ilnl.lu In
ilo pri r . . .
C.imlirlu Steel .
IJlectllc Miunce
i.inerul AMphiit
ilo prer
Key fi I
ilo t 1. .
ili prei . ..
Iikc hup Corp
I. eh .Niu
l.i li Vnllej . . .
I.eli V il lr ..
In plil . . .
t'i iiuiilvitnli ..
l'hlli I:1il . ...
I'lilln 10
iiu .1 per ciut
'in i tur eiut.
I'lill 1 It r
HI! t 1 . ,
Hla.llllg . .
loll I l.'l
Tun .Villi
I nlori Traction
II il I
I' S hteel
York ltv
ilo prir .
VVm Cr.unp t 1
Toil.iv
lllil. AHkeil
u
pM
pf.l
1 J i.J'4 .11 SH
. .17 .I'I .IS I"
invj n'ii( 1117 tus
IDS 101 llll llix't
"I'i 71 7I' Till,
i.j i;l i.i ill
:u .11 .11 11
71) 71 7" 71
II IIU II II".
II IIS II II',
l.s 711 I.N 7"
III j !l 111, li
T7' 7S 771, TM4
Til Till . TO Tll'j
11)1. Ill . I H1, IU'j
ti'iUi :.imi .i'i' j id
r.Tl, .vs is f.si,
27 2S 27;, jsi,
IHi It 4'JS, ll'j
.111 :.s 17 .' 1
ll'j II ll'j II ,
IS IS', IS', lSlj!
IS ISi. 1SI, ISlj
7714 77W 7S 7V,
111-11. 1 .-lfl I', I'j
1, 11-lit 7 1,11-111 T
41 ll'j 1 1'U II
Ml', Ml III "in,
MV, S.lj SI", Mti
SHAKP DROP IN COTTON;
FOKEHJNSEIiLIXfi HEAVY
Goorgi.x Reports Caused Bearish Senti
ment Increased Acreage
NnW YOHK. Jnn 27 -Tho soIllnB
movement which chui.utoilzed joiter
dny's cotton mnrliot lute In tho nession
vvns iciumed with vlum nt the npcnlni;
todn.v nnd prices Riistulncd shuip de
clines It vvns ehlcliv hv Mveipool nnd
Contlnetit.il Interests, Southern nnd vvlte
houses. SupporthiK orders earao mostly
fiom short!!, lncludlnK Wall Sticot. Tlio
ttndo vv.is impressed hy n mossniro fiom
(JeorKla say Ins this spntlment vvns bc
comliiK lipnrlsh In that State ovvIiir to
tho outlook of the Inci eased ncrenKO. At
tho end of the first 20 minutes tho innrkct
was active and -sttad.v, with prices 7 to 8
points net lower.
It looked as if cotton, which had hcen
flrmlv held for months, was coming up
on the market. I'ritcs orokc below tho
low level reached on the last dedlno of
last December, with May contracts s.cll
Iiib off to 12.1S and Jlilv to 12 ,;0, tho low
est levels leached slnco the publication
of the Government's crop estimate. Trade
Interests were buvers on 11 scale down,
and thero was also liuyinK supposed to
be foi Russian account, but tho tone con
tinued very ncivous and rallies weio lim
ited. Heavy nrflvnls of llnters were a fea
ture of tho d.iv's local statistics, amount
Ins to 2072 bales. A renewal of actlvo
fjcnoral sellhiB toward mldottornoon car
1 led prices off to 12 H for May. Tho
cxpoits of cotton foi tho day asifi oKated
51G bales, compared with "O.ilJ bales or.
this day last jear All shipments today
weio to tho Continent. Tlio exports thus
far for tho season amount to JGDC,237
bales, compared with J,6Ji,3j! bales In tho
correspondlnff peiiod last season.
tH. close. Oncn IIItIi. I.o. CIop
iiartn . .
Jtny
July .
Ootober
December
hint
DIVIDENDS DECLARED
rrcsseil Strcl Cur Camp.111). reRtil ir ipnr
terlv 1 ler cent, on prefcrnil, p,inlile 1'di
ruur) 21 lo ftoUc of reLord 1'ilirii irx 2.
btnmlaril OH Company of Knnsatv teulnr
nuarterlv St. inMiblo 1'cbrunry '."1 to utoi.k ot
rttoril Kebruary 11.
Norlh Anierlr.m Conip.iny. rcKulur qunrlcrly
l' per cent . payulilo April 1 tu mock of leconl
Mureh 111
Amertinn II ink Nolo Company, qu irterly 1
per lent lujublo 1 (briinry in to Htock of rcc
onl l'etirunr) 1
Commerclil Trust Coinpinj, ngular quar
terly 4 per lent , pnvulilc I'ebruuo 1 to mock
of recoul January 11
American Ciluo Company, rrRiil.ir semi,
nnnual ?l per uliaro on preterm!, paablo
rebruari 1 In Htock of reior.l lnuuar 2H.
Cambrld hteel regular iiuarterlv I'i nr lent
anil extra 1 pir cent , imvhMi rcbruiry 13 to
stock of teeoril January 'II
Ohio Cities (lau Compan, regular quarter)
l',i per tent., pnvablo ll.inli 1 to holders of
record Fibruary 11
National lad Compam. recular uuartirlv
1. per ent on preferrt d pa ible lareli 11
t'on&olldatcd llaa rtuulnr iiuarterlv 14. per
rent iiavablo Murch 11 to utoik of record
February 15. ,
1J (i'i 12 u.i IJOt II ST 11 M
J If. U Hi 12 11 U II 12 1 1
1J IT 12 IJ 12 IJ 12 J4 12 21
U 41 IJ III IJ IJ IJ JI IJ JI
1JIII 12.11 1J.V. 12 IT 12 .S
IJ 111 . . 11 !)1
March
April ..
May
June .
July
August
beptembcr
October
November
Pecember .
tottered. Hld
. T.257 10
ItT-M
. T i 1ST 10
.T.4I
. 7.3.'
. . T OS7 09
halca, 2000 bug.
T'JI7j:i
7.i2)ffl7 JI
T .1IS7.XI
7 U47..ill
7.'IS7 40
7.4 I&7 IS
7 477 4'l
7 Mft T.i SI
7 377 SS
7U27 1H
7.1)77 m
Patent Suit Dismissed
NKW YORK, Jan 27.-The suit of the
Vulcan Detlnnlns Company against the
Republic Chemical Company for alleged
Infringements of patents which has been
pending since early In 1915 was dismissed
by Jifstice Davis in the Supreme Court
today.
CUSTOMERS
of the
PATHESCQPE
Pennsylvania Knilroad
du Pont Powder Co.
Bell Telephone Co.
Barber Asphalt Co,
American Tobacco Co.
Anheuser-Busch Co,
Waterman Pen Co.
Reminjiton Typewriter Co.
Hershey Chocolate Co.
Larkin Soap Co.
Edgar W, Baird. President
Jt Alex. LegRett, Vice President
B. L, Aran Schaiclt, Treasurer
A block of the guaranteed 7 per
cent. Preferred Stock with a com
mon stock bonus is offered, subject
to prior sale.
1
Write, phone or call for Illustrated
book and details.
BURNS-DODDRIDGE-WJUTE CO.
New Stock Exchanire Bide.. Phila.
!
IHllEOTOKY OV ACCOUNTANT 3
CcrtllleU l'ubllo .lecouotantf
That the niirnpoin holdliifrs of Atnerl
can rdoclis hnvo been sold In lncreaitifT
qilnntltlps of Into thrro Is not much doubt,
I.ocnl brokers exp)esFPd tho hollcf thnt
tho opportmilti to lhinldato on tho an
nouncement of thiv United .States Steel
dividend was not neglected and this for
cIbii solllni; has hcen the cause of the de
pressed condition of the ccneral stock
mntltct Kleiircs coinpnrltiK tho pcrccnt
nito of chniiRo between .luno 30, 1114, nnd
.tiinunn 1, Ittfi, In some of the tcmllmr
lO'iil Issues show comturntlvelv BinatI dn
eie.iups For Instanre, Pennsylvania,
which Is piobnhlv held abroad In ki enter
rHinntlllc.1 thnn nn other American lssuo
with the possible exception ot United
States Hteel, showed n decrease of only
2f! per cent. Norfolk nnd Western de
creased IT pel cent, mid, Lehigh Vntlev
only O.'l per cent .lunev Central hIiowciI
no 'clntiKe durlnf? that peiiod Tho total
nveriiRn 1 eduction In r.uropenn holdings
of 11 le.idlns inllrn.idM wns onlv 2 per
rent Hlneo then, however, tho Cnitllsh
iiuiblllatlon srhemo bns none into effect
niul tho peieentage of selling Is thought to
h.iie ineienscd ninlerlnllv. It Is- esti
mated that some SIOOT shnres of United
Htntes Hteel have been disposed of by
foielKtieis Hllire the war begnn.
Another loenl stock which Ins BUffored
from this Is Philadelphia Company. Paris
has been n lingo seller. At ono tlmo
about S"000 nhates of the common were
plneed In franco, and It Is understood
Hint about one-third of the nmonnt Ins
found Its vvu Inek to this country. Mho
latest ship to nttlve fiom Ihiglnnd was
leportcd to hnvo $J"),COO,000 ot American
secutltlcs nbomd.
The derlaiotlon or nn extra dividend
of I per cctrt. by tho Cumin In Hteel Com
plin came ns .oinotbluit of a suiinlse lo
the Htieet and, iih a matter of fact, was
lather of a disappointment. H hnd been
expected that the trcasuiy stock might
be dlnti United and thnt some sort ot nn
noumtmhent icgudlnir tho mucli-talked-of
deal ml::ht bo made,
It was .stated that an nttempt had been
mado to obtain an extension of tho Itc
ploglo options on Catnbila, nt D, which
1 plie .lanuarv 31, but that this had hem
ionised. It was also reported that the
DicxeMntorcsts had received an offer for
routiol of Cnmbiln. fiom the Midvale peo
ple and that this might have made them
decide not to go into tho proposed mer
gei with the Youngstovvn and Lacka
wanna companies At all events, tho
Sttcet was iiulto nt sea over all theso ru
mors, nnd after marking up tho stock
close to T.'i It 1 eactcd on tho dividend an
nouncement I'mm Boston camo a alitorncnt quot
ing n director of the company that tho
dial had been definitely abandoned, be
cause tho lcprescntatlves of each of tho
thieo concerns Involved considered that
they weio more valimble than tlio prliis
.suggested at which they should bo taken
over.
After tho Cambria Steel meeting Picsl
dent Donnor slid all the llgutes, Including
"other sources," of tho 10.j opeiatlons
ELKINS, MORRIS & CO.
BANKERS
Land Title Building
Philadelphia
Scranton Electric Co.
1st and Refunding
(Nowrlst) 5s, 1937
Net Earnings Three Times
Interest on Outstanding Bonds
Tax Exempt
in Pennsylvania
Yield 4.80
THE ADVANTAGE
OF FORESIGHT
Oil todnv Is tlio ncl.noulL'ilgnl proiluct
tlint ni-Burea n rooiI return on jour In
rntmpnt. HARNETT OIL & GAS CO.
(IncorporjtcMl)
t'npltnl SI.OOO.OOO I'nr Value St.00
No IIoniN
Nn Oiilsliinillni; IiiilriitriliKHs
Truth tl In on .Yrm York Curb
I'rmriU Miirl.ft I'rlie
Aroiiml ?i.ll0
Htanilunl Oil Co plpo lines run to nml
tliruuRh tlm entlro property which
(uiiriiuluiH MnnilirU Oil price.
Orders ixccuteil ut provalllnc market
prlris
Write For Special Circular No. 2
E. H. CLARKE
27 llllllnm htrt'et -Neu ork City
were not jet In, but thnt the net tr
Ings for tho jenr were nbnut 6 4ooto
This showing, ho said, vvns several W
died thousand dottnts better than
1111. tho Inst previous good year of hm
ness Tho 1911 net Income, ns flgu.
of the annual report foi thnt year !
The remainder of the loenl list ,h,i i..A
Iheio was a -.point rise In Buffo 0 .S
Busquclmiina ptefctrcd on light s,fs h
tho general tono of the mnrket h'ra i
verv heavy, despite an cmH show"
strength In United Htntes Steel nl.!'
were quiet nnd stendv The mhane. ti
Hiisiiuelmnim merctrcd was nrcomninlici
by talk of lino earnings The balnnca
the putehnse price of $SCO,O0O for tho bi!
ertv will be paid off In March liT
estimated that the 1st mortgage 4tt , JJ
cent, bondholders will rcrelvo aboi 1 i
fot each $IOjO rertllkate "
lluffalo and Busiiuclinnin common M
lowed the exnmple cet by the preferred nl
rose 2 points, while Lehigh Vnllcy W
sit picfcired t iichcd a new high rccort
In the final hour the wbnlo local hm
ket tinned verv weak, under tho le-m.;
ship of Unllid States Steel Storage B.l!
teiv diopped a point and 1'ennsjlvanU
also softened, as did United Oaa Im
luovemcnt
. !
KiiKliih Dank Statement
LON-DO.V. .Tan 27 -The Weekly Mits
ment of the Hank of nnglnnd. Total re
serves C30 815,(100, Increase CI.137.O0O Mr.
eulatlou e31.o2x.00n. deereaso 81,000,' bul!
linn HB2.2JIO00, Increase fl,nv,,000, other
CUiltlcs, . 112,201,000. Incioise JC2,4Somo'
othci deposits Cleo.'iGl 000, Incrcaso ral
I'll; public deposits JJt.J,875 000, Incrcaas
j;:t 101,000; novoinmont securities f12E3S.
000, imchnngcd. The proportion of' thj
bnnk'H icscive to liabilities is now H.M
pei cent , ngalnst 22 SO per cent Inst neck:
nnd computes with a decline from 32
per cent, to 3.!'6 per cent in tills week lut
year. The clearings through tho Londo
banks for the week were JS3,9C0W
ngalnst 212,010,000 in this week Inst joar"
Selected 6
Bonds
To comply with many rc
(liicsts for safe securities yiclil
inp; a laiRe income, wo have
selected, and now ofTcr subject
to sale or advance in piice,
the following Six Per Cent.
Bonds:
tAmcrican Ice Company,
Real Estate First & Gen
ci al JIortpfaRC (is, due
1942, at price to yield
about 5.80 ri;
American Gas & Electric
Company,
100-Year Gold Cs, due
2011, at price to yield
about Ci'r;
tLcIiiBh Valley Transit Com
pany 10-Year Gold Os, due 1923,
at piice to yield nearly
5.70 rc;
tLatrnuo - Connellsvilie Coal
& Coke Company
First Moite;ap;o Gs, due
1931, at pi ice to yield
about 5.75;
Pennsjlani.t & Alar land
Sled
, Consolidated Joint Gold
Os, duo 1925, at price to
yield about 5.35;r;
Spanish - American Iron
Company
First Mortgage, Sinking
Fund Gold Os. due 1927,
at piico to yield about
5.70 tf.
iFrcc of Pennsylvania State
Tax.
Free of Normal 'Federal
Income Tax.
Complete details concerning
theso bonds furnished on re
quest. Ebwar & Smith &Cq
BANKERS
Established 18W
iltmhei h'cw Yoih and J'i(laJtpM9
Btocl. L'ichanots
Oscin ind CllI:lTul bm I'niUDi.
SO I'im. bnur. M iv oiik
Aetna Explosive Rights
United Fruit Rights
L. T. LAYTON & COMPANY
Slumbers l'lilliiilrlpliiu Stml. i:ilunw
Itrnl IC'.lutE 'lrust llldl.'., l'ldu.
1618 hkaC ssvatk thust ayiuniNO.
11UUNS & SfKAICMA.V
xao
bo Ugurs.
Today
ead the Advance
plan for teaching school children
about Philadelphia's industries.
The Big Five
Philadelphia as a tool centre and tho
plan under which Dlsston-Plumb-Enter-prise
Mfg.-Millef Lock and North Bros,
co-operate.
Our Agricultural College
What it does for the. State and what
tho State does not do for it.
Washington News
Keen business articles for business men
and vtomen. Published by tho
Corn Exchange
National Bank
Philadelphia
You may have a copy
Chestnut at Second
i
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