.Ei,i..,,m.vi, fJ'WF&wFWf u q EVENING LEDGERPHILADELPHIA, SATURDAY, JANUARY 29, 191G. FINANCIAL NEWS STOCKS OFFERED AT CONCESSIONS; FOREIGN SECURITIES SUPPLIED "'"Weakest Issues in Market Today, However, Were Those In Which European Holdings Are Small. Specialties Sustained Greatest Losses High Points in Today's Financial News New York bank statement showed increase in average loans and decrease in actual, average demand, deposits larger and time deposits smaller, surptus reserve increased. Actual demand and time deposits lower, also the surplus reserve. Stock and commodity markets easier. St. Paul, Canadiafi Pacific, Canadian Northern and Reading issued good December earnings' statements. Asking price for copper by some dealers 'JO cents. NEW YOUK, Jnn. 2D. Stories of foreign selling, repressed comments on the Huprctno Court nomi nation, agitation against munitions manufacturers reported l'i yesterday's congressional proceedings, and tho expected announcement of an Issue of New Haven preferred stock, were nil taken as bearish factors In today's stock mar ket operations, and during the two hours of business the bear element used ''them with effect as reasons for offering stocks at concessions and causing further substantial declines. Important banking Interests agree that foreign securities arc being sup plied In variable volume at frequent Intervals, but the weakest Issues In to ' day's market were thoso In which foreign holdings are so small as to bo of ricgllglblo Importance. Thero has been a full week In which to liquidate tho securities brought In on tho Cymric, consigned to J. 1'. Morgan & Co., but those looking on tho for- ,' ,'elgn securities situation as of tho highest lmportnnco expect that with tho arrival of the St. Louis this morning another largo consignment of forelgn- nVOwned securities will bo brought In, and that tho market wilt be called on to digest blocks of International Issues, as It has been In tho last week. Lato In the forenoon a better tono developed and many Issues showed a rallying tendency, with t'nlted States Steel common Hading good support around S3 after a decline of to S2s. Tho greatest losses were sustained In specialties, Including Studebaker, Industrial Alcohol and Mexican Petroleum, but these stocks aro selling at so high a level that declines In them easily result from moderate selling pressure. "" Some Dealers Asking 26 Cents for Copper - Further strength Is shown in the copper metal market and althrough the 1 leading producers and sellers arc quoting May and Juno deliveries generally Bt 2G'4 cents a pound, some smaller dealers nrc asking 2G cents. This feature , Indicates tho confidence of tho sellers In the situation and some predictions are heard of advances In prices shortly. A good business has been taken from domestic buyers, and inquiries for export also are In the market. WHEAT WEAKENED; EXPORTERS SOLD Lower Freight Rates and Larger South American Sales Expected CHICAGO, Jan. 29. Liquidation was " 'again Indulged in at the opening of tho wheat market today, and Mav lost ,c. "'to L3JH and July He. to $1.264 at tho "tputset. Evidence of reselling by export ers, an easier tono at Liverpool, nl- thoush that market steadied nftcr the opening, and a drop of 3c. in May at Wln--nipcR wero tho factors, ncurs were more aggressive- than for some time, and after rallying moderately prices again broke. Prices at the close were below Inst night. A well-known Liverpool authority con tended that the reselling by foreigners was moderate, and that It was due to ex pectations of lower freight rates and of larger exports from Australia and Argen- r tlna. Kxport sales In the United States JJj) the past 21 hours wero about M0.000 bushels. The receipts at Minneapolis and Duluth today were 23S ears, against 27S -cars a year ngo; at Winnipeg. 67 cars, 'against 113 cars; at Chicago, 133 cars, ' compared with . cars. Corn was firmer In the earlier dealings, but the action of the whent market served to temper the bullish feeling. There was a better demand for American I'arccls at Liverpool and tho market thero was firm. The receipts here today were 177 cars. ,, Oats wero about steady. The receipts "there today were 3H cars. Leading futures rnnEetl hs follows: , l tra b v d Wheat Open. HiKh. Mav l.:i.VH Law July 1.211'i 1.27V1. com (new delivery! NEW YOKK HANK STATEMENT Low. Close, close. l.:it'i i.:un t.:wt4 1.2.1s, i.23ti.an Mrv Jp'v ... Oats M. . .July ... Lard January Mav . . . Julv .., nibs January May . . , July ... - l'ork January May ... July . . . Wd. , , , , li"a Wi .... Ktt lO'.i ..10..10 10.110 10.70 ...10.70 ,...,11.11! ..... 11.25 ...21.10 20.73 20.77 tAskeJ. Sl; MH', eova Kl l!H. lit'Si SOU sou XIU, 111 10.00 10.70 11.12 11.23 20.7.1 20. SO .... 10.27 lO.'J." 10..-.2 10..V.' 10..V. 10.G5 110.70 10.07 in.7o li.n.-, tn.or, 11.20 11.21) 10.77 11.111 20.. ".7 JO. (13 21.10 .0..-.7 20. US 20.10 I'H.I'rO 20.70 COTTON PRICES LOWEIl; NEW ORLEANS A SELLER "Trade Interests Continued to Buy Late in Session ' NEW TOItK, Jan. 23. Influenced by sharp declines In Liverpool, tho local cot '"ton market showed an easier tendency this morning and prices started It to 1G ''points lower, Huslncss was fairly large. Virtually the only feature to this trad ing was the continued good demand for March, May and July by spot houses. The selling was scattered, some of It believed to be liquidation. After the call, prices held at or near the opening levels. Temperatures were higher In all sec tions of the cotton belt tills morning. Rainfall was quite general In the South west. The steadier tone noted right after the call was quickly succeeded by renewed eervouanes.s. New Orleans was quite a eavy seller hero and the offerings from that source appeared to encourage a re- , newal of local pressure and liquidation. May contracts broke to 12.05c, and July to 12.17c, or 16 to 17 points under last night's closing figures, and back to within a point or two of yesterday's lowest levels. Trade Interests continued to buy, how ever, while there were reiterated rumors that many such buying orders wero around the ring for execution on a scale down, , a,nd the pressure seemed to taper off some what during the middle of this morning. JJoderate rallies were barely maintained, however, with the tone still nervous and uncertain to the close. The prices wero below yesterday's final. Yes. close. Open. High. March 12.ni ll.M 11.11.1 May ... 12.2.1 12.10 12.1B "July ... 12.35 12.21 12.20 October ..... 12.3(1 12.20 12.2'J December ... 12..V) 12.31 12.11 Spot ,,. 11.83 . .... Liverpool Cotton LIVERPOOL. Jan. 29. Spot cotton was dull today at 5 points lower on the basis of 7-SSd. for mlduplands. The sale were 1600 bales. Including 38) bales American. The receipts were W.Cft) bales. Including 23.600 bales American. The market for futures closed barely steady at a net de cline of 486 points. I.ow. Close. 11. SI 11.112 12.0,1 12.1.1 12.17 12.2T 12.1K 12.2.1 12.33 12.40 .... 11.03 Conflicting Returns Between Actual and Average Figures SBW YOIIK, Jnn. 20. Conflicting fig ures weir shown in today's report of the Clearing IIousj! banks. Average reserves showed tin Increase of over two millions, while the actual return was a decrease of more than three millions. Tho same was true of loans and deposits. Loans on tho average rose $r,,702,noo, hut actually showed a decrcaso of $0,2m, 111. Total loans were $.t.27S,02O,0OO, with total deposits of f3,30S,l(Ci,000, and time deposits of $1M),2I2,OCO. Tho aggregate reserve was $7.T,,73(,OM), and tho excess, $177,801,710. Details follow; Clearing House members, nvcinue: Loans Increase $0,702,000 Deposits, increase U..M:i,Mo Tlmo deposits, decrease r.07.000 Keecrvos. Increase L'.llfO.CIn ('leai'lnit Ilnuho members, actual: Loans, decrease $C.2H7.(1 Ih-pAslta. di-rrinse ll).M)7.(Ml Time deposits, decrease 1,(IS0,(HM Reserves, decrease ;i,U2.S70 BIG BANK CLEARINGS Increase of 43 Per Cent. Reported for tho Week Ended Today An Increaro of 13 per cent. In clearings was reported by the banks of the United States for the week Just ended. Phila delphia was second only to New York In point of gain, tho local Increase being 31.1 per cent. Total clearings '.vr.ro $I,252.SG1,412, against $l,04l,072,Ct!O Inst weoi and $2,971,730,003 tho corresponding week last year: llUO. Illl.l. p. c. New York ..$2,1(11,017.171 $l,a.l,retS.OS.l .1(1.0 llostnn ii4.2i:7.r,!'.'j ift..ifti.r.iis j-.h t Philadelphia.. IKV-SIMSI 121.4.-..l.(l(i7 4H4.1 a.i.;iiN,"M. 3n7..Tili,27:l 77.122. I0S 2.1,010.202 naitlmoro Chicago .... St. Louis..., New Orleans L'(I.T"4..VL1 2I4..1S7.4CI (tl,:iici,7(H) -Kl: 2.1.7 lll.S l!.4i:i,M 1S..1 Seven cities, .1 days $2,n: f,00,tv).l $1,071,101,53? 47.7 Other cities, a days .... fira.fll8.20l S11.I4I.71S r,0.2 Total of a cities for S days . . . . . .$.1,r,77, IIO.IS!) $2,4S2.r,7ft,270 14.1 .Ml cities, 1 day 07.1.442,273 402.OM.727 37..1 Total of nil cities for a week $l,2S2,S0t.4t22,n74, 730.00.1 43.0 Federal Reserve Bank The statement of tho Philadelphia Tederal n,V!?rYc ,!nnK. fr the week cndlns January 28, 1U10. Is ns follows: ItnSOt'ltCKS. January 28. Gold colli nml cr tllieatcs In vault. .$12,310,7 Gold settlement fund balance .1.000,000.00 Lepnl tender notes. silver, etc (1.20(1.414.70 a, January 21. 7.5O$l1,R0.l.fi33.00 '1.513.000.00 17.402.0.1 Total reserve $21.(113.142.20 $22.5nn.0!i7.0.1 Commercial paper.. 222.7Rf.1f $IR2.(il4.27 Hank acceptances... 2,073.4 II. 78 2.3.11,203.01 Total hills dl." counted and bought $2,200,230,1)7 $2,.VIim00.KS I. S. bonds $2.nno,4fi.7.i $2.nno 4W.7.1 Municipal warrants. 2,u7,23N.n7 2.037.402.t:i Totnl Investments. J3,007.727Tl2 $3,t)47.fc70.SS Due from other Fed- erai lunorn Hanks (net) Federal Keserve notes on hand.... Notes of National Hanks and other Federal fteservo flanks All other resources.. 1.307,180.11 039.103.00 27fl.203.no 1B4.MS.R1 433.010.00 1 (71.000.00 S0.(VI7.II1 Total resources. . .$.12.:!ti.1..VI2.23 $32,300,013.72 LIAHILITIKS. Capital raid In.... $3,209,750.00 $3,200,000.00 HeserVQ deposits (net) 20,52rt..v,!.o:i 23.4Sl,Rai.ns fiovernment deposits 590.813.83 434,592.18 Due to other Fed eral Iteeervo Hanks (net) 1,203..',!12.,'.S All other lUblllltci. 380.3'J , 330,08 NEW YORK (JPFFEB. JIARKET NEW YORK. Jan. ,Tlier was little activity In coffee at the opening this morning- and first prices were unchanged from last night. The market continued quiet during the morning, with comparatively few orders In evidence either way. In absence of business price showed no decided ten dency, but, on tbe whole, the undertone as steady, and the trade at IarJ was J&lUnfr new devcloftweaU In eonftealon mh the freight sUiMUon. -xj- sry . - t - aoaxvB Aurti 3U Juius Jjlv AusniM StutemlMir tot lu.ElW fjy War's Vtstweay's jMUBlsUt Close sssV' 732f7 .14 7.i 7 IDT (A 7'si-ST 17 7 1SS&7 40 I 7 12X7 40 7 iS7 l I j. . 7 4u7 30 1 7 r.rtiT r.t I tT.es . 1 SB 7 b 7.IESXJ lli liMii 7 t aT'. . Total liabilities. . . t12.3a'I..V12.23 $32.500,0 13.72 FOREIGN EXCHANGE NEW YOIIK. Jan. S).-In the foreign exchange market sterling exchange and francs displayed continued steadiness. On the other hand rechsmarks, Vienna ex change, rubles and guilders were heavy. Quotations on relchsmarks were conflict ing, although little or no business was done. There were again reportH of transac tions In marks under 74. Quotations of 71 3-16 were regarded as too high by conser vative operators. A mujorlty of experts re port marks heavy In tono at 74 l-lC-S74',i, nominally unchanged from Friday's final figures. Other quotations were: Demand sterling, 4.76 3-16, cables, 4.76Tii 00-day bills, 4.72W4.721i; 90-day bills, 4.7O04.7Oi; francs, cables, 5.S6f, ; checks, 6.87; lire, cables, 6.72; checks, 6.72H. guilder, cables, mi: checks, 42T; rubles, 24).7(H3.gO. In the final dealings relchsmarks worked still lower. Vienna was also easier. Some controversy developed re garding the lowest quotations for relchs marks, but 733371 was reported by re sponsible persons. It had been alleged that lower quotations were established. Franos were slightly easier, but pase tas, which sold on Friday at W,i, rallied today to 19.03 and 18.00. Call. Tim. HUblt 2UJB W-Vj B Iti & tiMt 7 74 Tout SjtlM. IftJtWt bI, RATES FOR MONEY Viv York PtUUdeipbis, Wfl afl Bustua ... 4 Cklceso : 3f l . couuoentei lwpsr. isrse io six womns. aalp.ua, H.(i per teui BANK CLEARINGS Bank Llcurino to'.'a- compared with rorre spoodlu i1m U-t t'i years ... . , IUI Wi 1914 J j lUde.ph.u $-14 fill I f22,sV 7U0 $27 HJJ U bvHau iil.HU.D47 .872.3J2 $8,ft7.7l LONDON STOCK MARKET DULL AND ALSO IDLE French Loan, "Which Has Been Barometer of Trade, Rather Weak li BLOCKADE UPHELD By FRANCIS W. HIRST IMItor Tho I'cnnomlst. Special Catilo fo tht Ei-ettbiff .rrfoer LONDON, Jan. 29. Sir Rdward Orey'a counigcous and convincing speech In tho House of Commons has dispersed tho Xorthollfto press statistics, and tho pol icy of a scientific blockade with fair treatment for neutrals nppcars to have triumphed over that of what has como to bn known as "blockhead bloeknde." The stock market la dull and Idle. Tho l'rench loan, which has been tho active bnrometor of trailing, Is rather weak. The closing of the Sicilian sulphur mines through exorbitant coal and freight prices looks serious. Walter Huticlman'a move to cut down pnper, tobacco and luxury Imports and tho Treasury's closing of museums havo caused a sensation hero and Hhoiilil open tho eyes of tho over-prosperous llrltlsh public. The Trade Union Congress votes and discussions combine firmness with mod eration. Arthur Henderson's anticipa tion that voluntary recruiting would make the compulsion bill a dead hitter lins pro duced a marked Impression A lending city Journalist estimates tho total cost of the war to the end of March at 12,000,000,000, with 3,000,000,000 as the Hrltlsh share. Tho Stock Exchange regrets tho partial character of the Treasury action, holding that all minimum prices should have been removed. Chambers of commerce are pressing the Hoard of Trade about the congestion In our ports, which causes much delay and loss. Financial Briefs The New York banks lost $S3S,000 to the Subtreasury yesterday. The enlargement of Mie refinery of the American Siwltlng and Refining Company nt Tncoma lins been completed, mid It Is expected to be put In operation on Feb ruary 5. Tho capacity has been doubled to C000 tons a month. Tho Pennsylvania Steel Company Is erecting another new furnace nt Its Steel ton plant, and also enlarging sonio of its buildings. At a special meeting today tho stock holders of tho New Amsterdam Casualty Company voted to Increase tho capital stock of the company from $750,000 to $1, 000,000. This action was taken to ratify tho resolution of tho board of dltectors which was passed at a recent meeting. Commercial failures this week In the United Slates are 112. against 102 last week, 4.13 the preceding week and 010 the corresponding week last year. The Bnnk of England reports tho amount of currency notes outstanding as i;9:'.o2S,H9, against 2I,1S1,I70 last week. The amount of gold held for tho redemp tion of such notes remains at 23,500.000. The November report of tho Atlantic, Gulf and West Indies Steamship Lines showed on Increase of $329,593 In operat ing Income, .and $221,00.'! In net. The sur plus was $281,414, on Increase of $190,112. For 11 months tho surplus was $2,CM,3II, aguinst $795,737 in 1911. New York Bond Sales filch. ,174000 AliKlo V 1, ,1s Il'ii, WkiO Anir Hinelt .See fis..ll.l ll'fl AmiT Tel clt 4s 02H 700(1 Arm ur Co 4i-js tit', lOI.-JiO Atchison Ken Is li.-., IOTO Unit a Ohio 4s 1C 4'.ili(iii Unit .- Ohio cv 4iss.. li!. .VXM) l(.th Kteel 1st Ss va 2(in llrookn Hap Tr ."... 1 03U 10(H) Cent Leather 1st Sa.-lnl", 13KKI Cent It It N J .'is lisi; "0 Cent It rt N J rcK fis..H7 10in! Chi fit West 1s 73 loco flit & Nwn ttn 4s. . . . lis Simon Chi li A Q Joint 4s iist; noun Chi H & () 111 4s oil lono chl fl At q town 4s oi-n HKO Chl Mil & Ht I cv .r.i..ltl!l!i 111000 (Mil Mil A: Kt I cv 4li,slH2 1000 Chl Mil St 1' f(l 4'j fl', 20(11 rhl St I M & O .-S...11K14 20011 Co! ,t South 1st 4s 111 3(0(1 rhlneso (iov rm (an:. .V'O Cons (Ins cv (Is 12P.', 2000 I1 & nml 4s mill. ...li m;, 1000 Den & Itlo (Ir 4s 77 K-.00 Den A Itlo Or 3s K1l lfKOO Du Pont 1'nwilrr 4'is..l(i:i'.', lono Krie Ben 4s 7(!'i 240CO Mrlo conv 4b Her It MV, 40(4) Krle prior 4s m rioo (It FallB l Bs 100 t.vmo Ornnhy Cons i)n UN (io do sta 0h 10H woo 7iu,i a Man In ."is .101! 1IMY.0 til Rtcel ileh 4'ts 02iJ 200H Inillnna steel 3s Wm IKW) fnwa Central ref 4s.. r.ONi sono Iowa Central r.s Kf) 3(ViO III Central 4s 1KI WiJ onm) iln lii.vt K7 .r.mo Ins Copper cv fin J7R Itnno Interh Met 4Us 7.114 1000 lnterb It T rcf ,1s fioii lTddn Inter Mer Mar et 4U.102i; 2000 inter Stm 1'umn ct ,is 7Si.i iihki jnn new i,er sta'-ijs, ,4 .1000 J.ipanesn 4'.'s . . M't S II.1W 10214 1fl1i ...,.. :.'.." .. .:i : a.i MNl Itnil 1 HV Ml (SI US... IU'7 2000 Kan Cltv So .Is imi 20000 Ijieka Steel ,1s 111.10. . fW'i 20OO f,k Sh ileh 4s 102S ll.1V, liiwio lib; at .m -r ns. 20OOO Ijirlll.inl r.a . HlOrt T.nrllianl 7h 12.111 70OO t.ouls A Nash 4i RVi 1000 Mex Pet Co (is Ser A.-IO1! nooo Minn A St I. 4s .1 1000 do .Is BSH 3(i(i Mo Kan A T 2,1 4s 4K 3000 Mo Knn A, Okl 5s CJ1 31MIO Mo I'ae ct 4s 441', 3I0CO Mo Pae et ns 7H4 1CC0 N Y P-M. O enl 315s.. ROli Mtrtn x v f. s. Ti,, a i. fi'11. ?(1COO N Y r A Hurl 4'is.. Ul.K'! ,11 US 2000 N V City 4s 19-10. . . 4000 N Y rity 4s H. ronoo N Y city 4'js in. .-JSNl IS I UV . J1MI.1. 11411 fin 0Ri 1021 1021J 107 V, 2000 N Y C 4Us Msv 10.17.107', 2(i(K) STOIItl1 .1 10111 10000 N V A Put 4s 00 KO00 N Y N H II 4s T.0 SITU fono N Y Ont A IV 1st 4s. fnooo jc Y nwv ad r.s fii'i iron K Y Tel Ken 44i 001? 27100 Nor Poo prior 4s Ot"t (i-vmsi rs'or rae gen .is 2.V100 Ore nwy A N con 4s nooo Paclilc Tel ss Iiono Ienna gen et 4s iikiii I'enna. en f 1000 I'enna 4V4s 1021 1000 Public Ssv N J 6s. . . . 2O00 Rep Jr A S lis.,... Jttion Hook Island rM in. . vm Seaboard A I, adj Ss. 1000 Souih nell ."is 2000 South I'ac 4s 21000 da cv 4s 70fO do cv ret f t Bs 10IU4 2000 do rfd 4s. W) 40O0 South nwv sen 4s.'... 72U 1 do con ri 102 2000 Tenn O & Ir r t p lSs.120 1000 Tesas Co Od fonii KOTO Third Ave adj 8s R2 JB.100 Toltyo Rs 70 ?ini (in r J a u a u -is., win B7 02; ..inoi ..102 ..100 ..1111 ..no .. 1)71 (i ((Hi 1001; R7H , I.nvv. . 113 !12U HIS, 11.1 tc; IIS 1H.-W4 loui. Kill', 117'i 117 73 !IS' ml '. 1(1!) 1112 niU llkX, an; inn., 121", 1IMII., 77'i R1H lll.Hi 7I-.SJ SOU (.11 100 10S pis jig 'So4 till SOI', ri; 17S 7.1H 0(1 jnitj ?5tt Ml', 70lJ fl'l'i 1(1 u-.u 102 10IU 1V.11! Il.1i;, lit) .VI R.S1J 4S 111 41 7K'i S0J m ! 11314 osi; 1021s 102 vl 1071 10111J 104 ro fi'i S2 .ISti mi; 03V4 on; f!2t ioo; ion; 1(1(1 DO fi7V. ni'S flflli 72tl 027 looi; 10(i flflli 72 102 120 lOIti 77 fin u. 1000 tr S Realty 5s 7I4 7IW 2(oo ir s Rubber ft 1031J inrui 21f) If 8 Steel na sf 104W 104', 102; 104 i 92 0000 Va Car Chm Ca 102! 2000 Va Rwy n K 4O00 WabJ.li lit 5s 104S 2000 do 2d s 08t4 SOOOO Wab-I T 2d 4 1000 'West Bhore 4s 92 Close, 11.1 113 II2H '.'IS, 11.1 02 list, Ui'lli win Kll. 117 73 111 ii,'; HO 1)11 10:1 102 (14 'I 11SV, 111'. i:mi 1-ii 1 )i. 77 Sl'i 111.11 , 701, MP, Kit 100 His ins 3n; 02' i 101 m, .111 Ml MV. K7 loO'1 7SI4 71 Mil 70ii 0.1 li no H.1U 102 llllS! 12.1M lf 00 1114 7M? K(1"J Kl IMS 1I4 ARM 1021, 107i 10711 ?2U Wj noi; niH nni fl21 1001! lonj 10(1 101 no 07 (W'i IHH4 100U R7U R1 ion; ami 72'4 102K 120 10.11", R2V4 70 ni.; 7n! 103 104 102! nH 104 V 00i Total salts, $2,314,000. compared ulth (2.008,000 lust Saturday: lor uctk, S2:.0i7, C00; lust ech, $22,6I.OOO. Pig Iron Merger Planned NEW YORK, Jan. 29,-It is announced that M. L. P Kachelmaaher, of Colum bus, Ohio, has purchased the Wharton Steal Company, which was Incorporated In 1907 with a capital of $10,000,000. Th property consists of three blast furnaces and 000 acrs of iron ore land. Including the Hlbernla Mine, with reserves of 4.000.000 to 5.000.000 tons. Options on the plants of Thomas Jron Company, the Umpire Steel and Iron t'ompuny and the Wharton and Northern Railroad are also held In view of a generai consolidation of taeso coaipani"- Neti) York Stock Sales Lost close, lllith. Ixiw. Close. AtasVaJOoMM OJt WH !)! 10 Alaska flotd Mines.... 21 23f 2.') 23U Allls-Chalmers Mfg. ... 2(l! 2DJJ 20 2(1 AlllJ-Chalro Mfcri... SU 7W 78 78' i Am Ac Chemical 03!f 08'i 08' OSW Am Ar Chcm pf OS 1)3 1)8 (W m licet Sugar nil 0.V5 Ol'i Oti Am fleet Sugar pf nt ot 01 til Am fan n3, (l.'Pf 0t' (UTS Am Car A Koundry... r.7'4 00'i fi!4 034 Am Coal I'roducts . ..10 100 104 104 Am Cotton Oil r,V, i f;I ).'! M Am Hide & I, pf 0214 51!t fil'f fil'f Am Ico Securities 27U 271i 2fl's 20H Am Unweil 2.IM 23U 22jj 22!1 Am i-ocomotlvi! 0" 0.1 r,.1 03W Am Locomotlro pf..,.102 102S 102H 102U Am Malt 8H H'i 85 8jj Am Smelt & Ret 101H 100'f OU), BOW Am Smelt & Kef pf...H4 113)5 113M 113M Am Sugar Itrflnlng. ...1134 113 I12t 113 Am Tel & Tel 127.1, 127'. 127!, 1275, Am Toh pf now 108 lOS'j 10S1, 108), Am Wool tr r fit fiO'i lO'f 41! Am Woolen pf tr r. . . 07 07 07 07 Am 7. L & Smelt 07U 07 07 (17 Anaconda Copper fi(S!f KOlf 8514 WW Associated Oil 0215 01 02H 02) AtchT&S !" MM 10.-t$ in.ijf 10,'t'i AfchT&SKpf 10J), 100W 100VJ lOfUS Ilaldftln Loco 00jj 100 10744 10S Ilalllmorc & Ohio . .. 80), 80'!' 884 88'5 llaltlmoro & Ohio pf. . 77 77)j 77?, 775, Hatopllai Mining 2!i 2H 2' L'Jj llethlchcm Steel 170 -tO.-. .150 403 llrooklyn Hap Tr S7 87 87 87 Drooklyn Union Oas..l3t 131M 1304 130'i Hrnnsttick Term 12 11.4 114 114 Ilurnt itro, 81 81)5 844 84)5 Initio & Superior 70 734 7.VI 7fi4 Cal Petroleum 304 .'104 234 20)f Cal Petroleum pf 02)5 01)5 014 014 Canadian Pacific 10955 1014 107 1074 Cent Leather Co 33 33 324' 324 Chesapeake & Ohio... 02 014 T14 014 Chile Copper 234 23'5 234 234 Chlno Copper 334 334 324 524 Chicago Clt Western... 13 13 1255 124 CM (It Wctern pi.... 304 304 354 35Ji Chl Mill & St Paul... 00 i 004 1)0 004 C C C & St L 104 40 4') 40 C C C & St L pf 75 71 71 74 Chl & Northwest 130 130 13(1 130 Chl It I I'ac 104 104 10)5 104 Cluett Pea & Co 73 73 73 73 Colorado Kucl .t Iron. 454 444 44 44 Col & Southern 29 28 28 28 Computing Tab Hec. 50 19 49 49 Consolidated !ai i;j94 1384 1374 137)5 Corn I'roducls Itef. ... 224 224 214 22 Corn Prod Itcf pr 97 00)5 0C)5 00.4 Crucible Steel 714 72); 704 704 Crucllilo Steel pt 110,4 H(H 1104 1103C Cuban-Am Sugar 182 1704 1704 1704 Deere & Co pf 90)5 004 004 004 Detroit I'nlted Itys... 73 81 784 784 Distil Sec Corpn 144 45 434 43!,' Dome Mines 204 27 27 27 Lice Storago Ilat 02 02 02 02 :rle 304 304 30 30 lMolttnr 52' 5 52 51 "5 52 Cen Chemical ...301 290,4 2904 2904 (ieneral Klectrlc 171 170)5 170)5 170)5 Goodrich II V Co 70 70 094 09)5 (it Northern pf 1214 121 120)5 121 (it Nor els ror ora pr. 41)5 444 444 415, (iranhy Consol 93 024 01 91)5 Creene-Cananea 484 48 474 4751 Guggenheim Kxploran. 224 22,4 224 224 Illinois Cent 100 103)5 105)f 10555 Irit Agricultural 22 21 204 204 lnt Agricultural pf . . . . 59 59 59 59 tnt llarv N J 111)5 11055 1104 1104 lot Con Cor v t c sh. 19 184 18,4 184 lnt Consol Corp pf . . . 754 75 744 75 lnt Paper Co 104 1055 104 104 Insp Con Cop 144 414 444 444 lnt Nickel v t cfs 2104 208 205 20S lnt M M cfsof dp.... 18.4 18)5 1755 173J lnt M M pr cor dp.. M)4 81 SO 80 Kan City Souhtern. ... 204 204 204 204 Lack Steel Co 8155 S34 804 824 Lehigh Valley 7(T 70!i 70 70 Louis & Nash 1254 125 125 125 Muck-ay Cos 804 79 79 79 Maxwell Motors 08)5 OS 0755 08 Max Motors 1st pf.... 8755 874 8755 87)5 Minn & St Louts pf... 104 10 10 10 Mrthun Petroleum.. ..1024 1024 100! 101 Mex Petroleum pi 97 01 99 09 Miami Copper 38 38 3751 37JJ Mo Kan & Teus 5,4 5)5 555 53J Mo Kan & Texas pr.. 15 144 144 144 Mo Pacific tr cfs 5 5 5 5 Nat Knam & S Co. . . . 25!f 25 25 23 Nat Lead Co OS'S (IMS (174 07)5 Nov Con Copper 154 154 15)5 154 New York Air Ilrako.. 147 140,4 143 113 NYNIIAK 084 00 004 07 N Y C & II It l()5?f 1054 10555 1054 N Y 0 & West 274 274 27 27 Norfolk & Western.... 110' 5 115!' 1154 : 154 North American 704' 704 7055 7055 Northern I'aclfLr 1134 113)5 113 1134 Out Silver Min 84 84 7)5 7), 1'aclflc Mall 12! 124 124 124 l'enn Hallroad 5.8 5s .174 574 Peoples Gas Chl 107 107 1004 10055 Philadelphia Co 424 414 414 415,' 1'ltts Coal Co N J.... 324 32 315 j 314 Pitts Coal N J pf 1074 1004 100)5 100)5 Pressed S Car Co 504 55 55 55 Pullman Co 105)5 100 1053, 10(1 (iuc,;sllvcr 04 54 54 555 Quicksilver pf 8 755 755 735 lly Steel Sp Co 39 384 3S4 38)5 lty Con Copper 214 2155 2355 21 Heading 77)5 7731 77 77 Itepublic Iron tc S.... 5155 51.4 .'.04 f.0Jl Hi'publle Iron S pi. 1084 10S 10S 108 Seaboard Air Line.... 1055 10)5 1055 104 Seaboard Air Lino pr. . 374 374 304 37)1 bloss-Shef S & I .1735 58 58 58 South Porto 11 Sug.... 148 14'! 140 140 Southern I'aclfl: 100)1 1004 100 100 houther.i lty 21 2075 204 2051 Studebaker Co 1494 14 Hi 14555 14555 Tenn Copper 504 04 55)1 55)5 leiasco 201? 2014 19355 197 Third Avenue 00)5 004 00 G04 Union Hag & Paper. . . 7 055 055 0)5 Union Hag & I pi 29 29 2855 2835 United Cigar Storm... 051. 9)5 051 951 Union Paciile 13155 13351 133 133 Union Pacific pf SI 81 81 84 U a Ind Alcohol 15055 150 1434 144 Untied Fruit Co 13855 1351 1374 137)5 United Itys tnv Co.... 1755 175-5 1755 17h U SC I l'& F 194 17 17 17 Un Itps Inv Co pf.... 3335 33 33 33 U H Ilubber 51 051 49J5 404 U S Steel Corpn K34 8351 82)1 82)1 U S Steel Corpn pr... 118 118 11735 1175, Utah Copper 79 704 7855 7835 Utah Sec 1935 1035 1955 1955 Va-Caro Chem 1731 4735 47 47 Va-Caro Chcm pf 110 10J 109 109 Wabash 1455 144 144 114 Wabash pf A 154 4531 4435 4531 Wabash pf II 29 2855 2855 2831 Wells Fargo Exp 130 128 128 128 West K & M 0035 tiOVi 0M5 t,5 Western Union Tel.... S9)5 8S3i 835 8835 Willys Overland 205 044 2021120251 WpolorthFW ..110)1 K0)5 11035 UOJi 'i'ulal mien, 303,300 shares, romiiared nlth 203,300 sliures litot Suturduyj this nrek, 3,381,000 tburesi lakt iteek, 3,131,000 sliures. INVESTORS SHOW MORE INTERESTS PREFERRED STOCK Brokers Favor First-class Industrials Instead of Railroad Securities NEW HOLDERS BENEFIT By BENJAMIN JOHNSON TI10 reactionary spirit In tho market Rlnco tho culmination of the grent advance last November has created a very ton sorvatlvo tendency In Investment circles and has emphasized a very favorablo con sideration of preferred shares of success fully managed corporations, for at least a larso proportion of Investment tunds. It Is known that many or the old-time conservntlvo banking and hrokcrago houses of New York have, In fact, for a year past, been urging Investors to buy the preferred shares of good Industrials In preference to the preferred stocks of railroads or any kind of ordinary shares. Tho wisdom of this becomes apparent, as from tlmo to time accumulations of dividends nmolintlng rrom 754 to 50 por cent. aro being gradually paid off, thus giving to present holders tho boncllts ot tho accumulations of which former hold ers have been deprived. It Is nlso noticeable In the serious de clines of the lost three months that pre ferred shares havo declined Infinitesimal- I ly compared with tho shrinkage of com mon stocks. Tho belief seems to be general that fur ther confidence and preference should ho shown toward this class of stocks, nil of which In tho prevailing wave of prospcr ltj should render very good account of themselves to tho presccnt Investor. LOCAL MARKET IN QUIET MOOD; PENNA, STEEL RECORD EARNINGS' Street Still at Sea Over Cambria Situation Readin j Better Than for Two Years Sales in Philadelphia YfH. close, llltth. I.ow. Clone, n.1 Alllaneo Insur. . 20 20 20 '.) .10 Am Ixieo i 04 01 (il IR Am Oas 122 122 122 122 r, Am Ilwys pref. (WW 00 00 fill 2(1 Am Can 12',b 02li 2Wi .in nurr & sua t c. -mi it it -u (10 ilo pref 01 Otu. (U'4 01U, 10 Halt & Ohio .... NiU WV4 M)V5 20 Corn Prod B.'1'.'i V2 22 22 200 Cruel Steel 7IU T1V1 71"; 101.'. Cambria Steel.. 71 71 7:m 73iJ BO Chl n I & P Kl'i 10i lfili .-o nrio now mt'i ao't mi' 1 11 Ins Co .V Am.. 2:.". 2.V.4 2.VA 2Sti 200 iJiko Sun Corp. O'l 071 Oil H'4 20 l.chlKh Nuv ... "T5i "v4 "711 77"', 133 f.chlch Valley.. 70U 70 7C.; 711)4 2 l.ch Vnl Trim.. Wi U'V. 1!W 1014 203 ilo pref 40 40 40 40 SO Pentm It II .... nsif, AS r,7T M'5 00 I'a Salt MfB ...100 100 100 1(0 no Phlla Co I2U 12 42 42 110 ilo ciim pref.. II II II 4t 231 Phlla Eieu .... 2S 2SH 27!i 27'; 12.-. P 11 T tr ctfB.. IS!', IS); 1R IS 40 Phlla Trnc .... 70!i 70 70 70 73 Itny Cons 2.1)4 2.'1 23'i 11) ItcadlnB 7794 77(5 77'5 77'.. tot Ton llclmont .. I' 4',, 4',, 4 HO Colon Trac ... 43 43 42 42 120 1: o imp s; wt fioTi f-oy, 23.V) U S Hlecl R3V, S3i M1); S274 .'. Wclsli.ich Co ... 411.5 44 41 41 00 Warwick I & S. W!i 10 lovi 1014 120 W Jer & S S . . fiO)i CO- C0i U', Tntnl snli, 7112 slmres, compnred ulth -3!)2 hliurrs hint .Sutiiriliiy; tills week, 07,837 sliures; lust week, 03,2!).. shn.es, BONDS. Lust prcv. Sale. 2200 Am O & H r.s.. 03 20T0 llarwood R 0..t01 WiOO I. V Tr rf Bs.. 02. BOOO f Co O cons 4VSsl0d fooo V Co cons .",s.... 02 MOO Phlla niec 4s.. 81 24000 ilo ,1s ...' 104 iro Ilcail Ken 4s 2000 Stand Gas Ci.. no',5 JOOO York Rwy 1st 5s or. Tolnl sales, $.V,700, compared ullli $31,070 Inst Nutiiriluy; this week, 488,."i7(); lust mccIe, $709,030. HlKh. Iiw. Close. 0314 113 031,4 1027; 102'4 102 (I2'j (12 H2!'j KM 1011 KK1 02 02 1)2 SI 81 HI 10.-, 103 10.-. 05i OSIl or.?4 tl'Mi VMM WK II3W 03 O.V,j Local Bid and Asked HIGH EQUIPMENT I'ltlCES CAUSE CANCELED OKDEHS Erie and Union Pacific Railroads Have Deferred Building of Cars Owlne to tho high prices submitted by hulldery, the Krle Itallroad has notified bidders that the purchase of the 2000 cars, for which bids were asked, will be deferred. It was also learned that the Union racific. which had been In the market for 6000 freight cars, has with drawn Ita Inquiry for similar reasons. The Pennsylvania, which some tlma ago asked for prices on 20,000 cars cut down ita orders to BOOO and Is now construct ing 1000 steel freight cars, 75 automobile cars, 70 coaches and 5 baggage cars In Its Altoona kliops. The Baltimore and Ohio, which recently ordered 200Q cars from tho Cambria Steel Company, has placed an order for 1000 additional cars with the American Car and Foundry Company. The Klngan Refrigerator IJne la In the market for 100 cars and the Southern Pacific Company has Just Issued inquiries for 500 automobile cara ana 2S0 gondola cars. United Railways of Havana are asking for prlcea on two motorcars and the Nashville, Chattanooga and St. Louis is In the market for two postal cars. COTTON STATISTICS The statistical position of cotton li as follow. This week Last week I.ast year Total Vlf. supply 4,lft.l 6.0OT 173 S.58.1.2SU Of wuUh Amei MM2 627 4 1(1.374 (lSIk 23U Tot! Jaa SS. 8,li3,W3 7,82.S2 &t8.gi tlnhlwln do pref llrlll, J a Huff & Sus t c .... ' do pref Cambria Steel Klectrlc SlnraKo .... Uencral Asphalt .... do pref Kestono Tel do t c do pM Ijiko Sup Corp Lehigh S'av i.ehlKli V.-il IehlEli Vul Tr do pfd Pennsylvania I'hllii Hleotrlc Phlla Co do 3 per cent, pref do U per cent, pref Phlla It T do t c Heading Tonopah ltelmont ... Tonopah Mlnli.g .... Union Trac 'IT (las Imp U S Steel York Itwy do pref Wm crump t c Hid. Asked. .107)i iosi nid. Asked. .Kis . 3-V.S . 41 i.lVa . 02 . 3,1 . 70 . 14 . 14 . OS in; . as . 27'4 ::1V4 . 41 . IS . IS : 747li . NlVi . KfA . Mi . 34 . ill 'i 10HI& 37 UV'j i :u 7011 14J4 7i'' 111 77T4 7ili li)', 40 OS'' 4(1', W,i 7?li V' 43 S2'4 35 Ml III!) KIS .'111 41U 01 oi 3.1 70 14 14 cs tl'C 70 lini 27T4 42 311 ISiJ 1M4 7i d"i 4'2 NI14 S 3 7U 1IIS1.5 37 4tl'j 02 74 11.1 34 71 S 141, 70 0 13-10 ,.s 7IH1 lot; 40 Sf.1 44 1SH 1S 7H 4V4 43 ki; h.l',4 OK 35 81 RAILROAD EARNINGS TOLEDO, ST. LOUIS AMI WESTUnN. 1010. jsis, ins 171.4112 110, 0711 2.711 1, CTI (k-i,,wm) December eross .. Net Total Income .... Six months' eross Net Totul inconio 110STON AND MAINB. December gross $l,2isn.O'.)3 Net U17.34S Surplus 1),2R!I Six months' gross 2.n,n.'l4.3iil Net (),(i(is,727 Surplus 2,227,ti(M CHICAGO QI1EAT WESTERN. Increase. $171,o:ill 122,413 111.I17H WJ2,(;il2 412,000 320,313 J071,00S 3hU,07.l 2.10.UII l.ulO.r.ll:! 2,217.232 -, ll.lUi December gross . . . Net Surplus Six months' gross Net Surplus READINO RAILWAY. December receipts $5,037,830 l-roni in operating .-surplus $1,32U.NSI 410.753 2(X),4St 7.5HI.U31 2.1.VI.0.17 B10,7SD 2.U10.U7M 1.200,428 $144,731 13S.740 130.SII3 UlS.dU 1(S,417 111,301 $1,312,413 U7S.00S U7S.I14 READINO COAL AND IRON COMPANY December receipts $3,003,101 $35.4'i0 l-roni in operuung ..... .un,.-ni Surplus 37U.2K1 READINO COMPANY. December receipts $370,500 1'roMt 6(n,US3 Surplus 103,068 READINO RAILWAY COMPANY. From July 1 $28,140,702 $1,021,700 I'rotlt In operating 1O.870.U27 3,340,000 Surplus 0,238,127 3,330,300 READINO COAL AND IRON COMPANY. From July 1 $17,030,055 $1,083,202 ruiib 111 upcrutinG (os,(hia nEADINO COMPANY. From July 1 ...'. $1,421,510 l'roitt ,.,. 3,370,721 Surplus 033,721 CANADrAN NORTHERN. December gross l'l,4'l.1.io Net 1,202.100 Six months' gross 15,002,000 Net 4.837,100 CANADIAN PACIFIC December grots $12.7o3.ii73 Net 3,702.321 Six months gross 1X1,470,1111 Net 2O.024.1SI MAINE CENTRAL December gross $921,340 Net 200,073 Surplus 82,102 Six months gross. 3.0M.1OI Net . .'. 1,017.001 Surplus WO, 03 J ST, 1"AUL. December gross.. $0,212,150 f 1,020.000 Net.... 3,183.300 1.358.884 aix months' gross , 34.402,740 0.012.(17(1 Net 18.0ai.OCO 6.123,102 ' LIVE STOCK QUOTATIONS CHICAGO. Jan. 20. HOGS-Receipts. 10 000 .-1... - til-..., . k... .. 4v..A.n' Aisrvv siivtfs. "iwi buu vmiuHi, 91 iwmu :00a nesvr. si 'wo. rousu neavv, 10. 28,021 :2S,IK4 $1,833 2,111(1 8,243 148,083 $18,153 30,013 08,013 1,(1,000 7(W.UOO' 3,375,100 1,815,600 i5.2flt.71t 3,502,708 10.532.0,18 V.OJO.IilS $127.33S laauiT , 1IO.A34 74.712 23.-l.6tU 103.031 . PUS. U.K7 10 S7 !tl.T t bulk. $7 70 Iff. M good heavy. Ji ( soarssK aisaay I3.GO0 0.50. SiIEl Ret Apts 1500. Market weak. Na tive ad Western. H.UHlS. Umj, f7.&0ilO,T3. RecelDts Beeves. I3.30SU.tO cows and belters. 8.30 fexans. ta.50jr8.40 calves. IWlO.W. CATTLE ves. .. oou.i 200. eowa and blt. There was little to discuss In today's local stock market. On tne wtiolc, tho tono was a trlflo depressed, hut prlco chntiRcs wero nnrrow and devoid of ma terial significance, whllo the volumo of transactions wns almost nominal. Kuril news ns there wns mnilo for optimism, lluslncss conditions continue; lo Improve In nil directions, according; to the various trnde authorities, nnd the only rcnl cloud In sight other than the possibility of war Is tho labor situation, Foreign liquidation, of course, continues, but tho market seems (( he nhlo to nbsorb the offerings comparatively easily nnd as far as the bond division Is concerned brokers report n lively demand. Today tho Philadelphia Mlrctric Issues wero active cspeclnlly tho 6.1, which moved up on Inrite demand. York Hallway's Ca wore also strong. On 'ChntiRe today Cambria Steel wns orf a fraction. Tho Street Is still divided as to whether the big merger Is to go through or not. Doubtless some definite announce ment will bo made after tho date of tho expiration of tho ltcploglo options, which Is Monday. With regard to t'onnsylvanl Steel, It wns said the company closed the yenr with net profits of more than $2,000,000 nftcr tak ing care of tho bonded Indebtedness and depreciation. . This compnrrs with 11 loss of $078,302 In the prcccdlngl2 months, nnd mentis that tho 7 por cent, preferred dividend, which requires $1,430,230, wns moro than earned and that about b (J cent was left over for the common JJgS At the present rnto of Incoming buslne!? tho earnings for 1916 should break JS' SS'S r18' Th0 8toc,c ' w has enjoyed a good business InX., the llrst half ot the current "? dross and net results of tho rnllw company wero considerably better thanil tho first Imlf of the previous fiscal y? nnd also ahead of tho corresponding p.! rlod of the year ended Juno 30. 1013 t irnlns of the first six months of thls'fWM year over two years npo show more Krowth of the rond's business than 11,. Increases over the Pscnl year 191MI, whl? was a period of low railroad earning. In every month this fiscal year the ran" way gross has been ereater than In lie corresponding month of the previous year, and also was nhend of each mon h in tho first half of 1912-13, except JulTand A 11311st. ""inna lly holdlnB down tho rallway'op6rtt,in expenses .much more In proportion than the Knln In Rross revenue the surohu figures, nftcr expenses, Interest and' lax., nlso show gratifying gains. The rain mndo by tho coal and Iron company December over that month In 191 helped tho results for tho six months consider nbly.ns up to December 1 they were not fnr nhend ot the previous fiscal year PHILADELPHIA MARKETS GRAIN AND' FLOUR WIIHAT. Receipts, 153.077 bush. Prices declined lr under lower outMl-in ndlccs. Do mniiil ns fnlr. Oiiotatlons: Cnr lots, Ih ex port eloxntnr No. 2 red, spot nml January, l.37ft 1.311; No. 2 Southern red. l.lf.fi 1 .:i"; stejnier No. 2 red, t l..'Ufrt.3i): No. 3 red, $1.31 a 1.3H; rejected A, $1.3t'i,l.33; rejected U, $l..'li:t(l..'l2. t:oitN. Receipts 22.233 bush. Supplies wero small nnd the market ruled llrm. but de mand wns only moderate. Quotations: Car lots for local trade, as to locution Western No. 2 yellow, HI&N5,.: Western rteamer yellow. N'jbvtfM'sC,: Western No. :t vellow. Srt.s2c Southern yellow, S0?iS2c. 1 cob, per 70 lbs., 80 581c. OATS. Receipts 13,00!) hush, The mnrkct ruled steady under unlit nflerlnKs. but tr.uie was nulet. (Juotatlotis: No. 2 white, 5!ift i.np. : standard white, ."iSl."iM(.c. ; No. 3 white, sari ."(I'dc.i No. I white. S.'sn-.'rilc.; s.implo oals, ."Hi (ilMc, ; purllled oals. firuded. l(3,(.o. FLOCH. Receipts, 2411) bbls. and 502.37S lbs. la i-neks. Trade was slow nnd trans actions wero chiefly In second-hand sloclis, which were available nt relatively chenii prices. Quotations, per 100 lbs. In wood Winter, clear. $3.il.,f)il: do.. stralKht, $01111.25: do., patent. $n.:i3fiil.i5: Kansas, clenr. Juto Kicks, $3.3tKfIU: do., stralKht, lute Hacks, JiMC 0.25; do., tintent, Jute sacks. ?il.2.t((l. ,5: spring, llrst clear. $3.737(1: do.. stralKht. $ivtt (1.25; dn., patent, ?0.25fi7: do., favorite dirnnds, S7. 251i 7.50; city mills, choice nnd fancy pntent, $7.2551 7.50: cltv mills, icKiilar Brndes winter, clear. $3.il.iri(l: do.. stralKht. iU1til.2."i: do., patent. .ll.:!3i 11.75 RYi: FI.Ot'R. Ituleil Arm under small ran; piles, but trade was nulet. We (luolc $5.3()ffll Her bbl.. ns to nu.illtv. PROVISIONS Thero wns llttlo tmilltiK. but values were well miilntnlncd. Quotations iiiiiRed as rullons: City beef, In sets, smoked ami alr-drlcd. 2lff23c. : Western beef. In sets, smoked, 2lffi25c: city berf. knuckles nnd tendciH, smoked and nlr ilrled, 201(27e. ; Western heel, knuckles nnd tenders, smoked. 20r'i27c.; beef hams. $2(30; pork, family. f22.50'(i2l: hams, H. I', cured, loose, lH-iirl.-ic. ; do., Fklnneil, loose. 15fn.Vic.: do., Jo., smoked, li'jfiise. ; oilier h.ims. smoked, It. cured, as to brand und average. I(ljail7c.i ll. s, smoked. Western cnreil, lliiafi lie: do., . ed, boneless, 20c; picnic shoulders, H. V. c .-ed, loose, lOMic. : do., smoked. lPaflc. ; IIcr In pickle, accordlnc to average, loofe, '-f(12iic.; breakfast bacon, (is to bland and af erase, city cured, 15ST1IU-.: breakfast bacon. Western cured. 15fjl0c. 1 lard. Western, retlncd, In tierces, ll'lc; do., do., do., tubs, UVic.j do., puro city, kettle rendered, In tierces, mie; do., puro city, kettle rendered. In tub!. REFINED SUGARS The mnikei una quiet, but ilrm under smnll supplies. Itellners' list prices: l-.xtra tlno Kranulated, 5.s.",c.-, standanl Eiuiiulated."B.0Oe.; powdered. 5.n5c.; confectioners' A, o.lic; sort Krades, 5f3.C0c. DAIRY PRODUCTS IHITTEIl. There was llttlo whnlesalo trad ing, ns usual on Saturday, but offerings of de sirable slock were light and values of this description were well maintained. Quotations: Western, fresh, solid-packed, creamery, fancy specials. 3l,,.c.; extra, 32i.c.: extra firsts, .lli 32c: llrsts, 20i30c.; seconds, 2;ti2Sc; ladles, 2Pii22c. : nearby prints, fancy, flUr.s nveriice extrn. .1141 35c. ; firsts, 30fj;:2e. : seconds. 2II1H 2Sc. : special fancy brands of prints pobblng at 8!fi I2e. EtlHS. The inarkot ruled Onn nnd iiKaln 3dc, per cuse, or le. per dozen. hlKher, with demand readily absorbing tho limited offerings uf de slablo stock. Quotations follow: fn free cases, nearby extra, 33c. per do..: nearliv Hist-. '.i per standard case; exceptional, lots, higher; nearby current receipts. SN.7D per case, ex ceptional lots, higher: Western extra llrsts, $'.) per cnue: do., llrsts, $S.70 per caHe; fjney, so leetcd cnndled eggs were Jobbing at 35t(37c. per dozen. CIIKKSK. Offerings were light nnd tho mar ket ruled llrm with demand fair. Following aro the quotations: New York, full cream, fancy, held. ISWilKlic. ; "specials" higher; do., fnlr to good, held, n-Vlf',iO.; do,, part skims, lHjlOc POULTRY Livn. Tho market was dull with ample of ferings nt former rates. Quotations: Fowls, as to slzo nnd quality, KMilie. ; roosters, 1211 I'J'.vC.: spring chickens, snlt-nieated, 17'iilHc: do., stnggy, ir,1f l(k. ; turkevs, 2(i'fi22c: dmks, as to size anil quality, ir,ii17c: ueese. 15i(17e. pigeons, old, per pair, 25B2Sc. j do., young, per pair, lsfi'.'iic. URES8BU. The market ruled llrm under light receipts and n fair demand. Following are the quotations: Fresh-killed, dry-packed fowls, 12 to box. ilry-iilckeil, fancy, selected, 20'.(.c. : do., weliihlng 4 lbs. and over apiece. '20c; do., weighing S'A lbs, apiece, 10c; do. do., weighing 3 lbs. iiplei-u. 1m., .111,, smaller sizes, 15'ii17c. Fowls, In bids., dry-picked Fancy. 4 ibs. nnd over apiece, unc; smaller sizes. 135llSe. Old roosters, dry-iilckcd, ll'jc. Chickens. Jersey, fancy broilers, 2lii2(lc.; other nearby fancy blotters, 221i2tc. ; Western broil ers, weighing lift2 lbs. apiece, 22?(2lc. : Nor thern Illinois, fancy yellow chickens, weighing 4 Ibs, und over, In boxes, 21th22c.; do., do., weighing 2!( J3 V. lbs.. In boxes. lftrtMc; do., weighing i'AA'AV. bs, in btls., 17818c. ; other Western, weighing 4 Ibs. nnd over, In boxes, ISiilllc; other Western, weighing SKfi.lVt lbs. In boxes. 10U17C. : other Western, weighing 2Vs03H lbs., In bbls.. ISCTlOci Inferior, lie. Capons, ueighlng S'ulo lbs. apiece, 2i(j2sc; da., smaller sizes. 23020c Turkeys, nearby, luncy, 27S)2Se. ; do., do., gonu to choice, 2 1 tji-JOc. ; do.. Western fancy. 203 27c. ; do., do., good to choice, 23023c. : do., fair. 20"'22c; do., old toms, 23c, do., culls and No. 2, 10320c Spring ilueks. nearln. !Mj20c : do.. Wester,,, lancy, I7l8c. 1 do., do., fair to good. 12313c Cleese, nearby, lOldSo.: do., Western. 14ffl0c. Squuba. per doz. White, weighing 11 to 12 Ibs. per doz.. J3.I0UO: white, weighing 0 to 10 lbs. per doz.. $1.50) S; white, weighing 8 lbs. per doz., t3.73Ml; do., do.. 7 Ibs. per doz.. l'lff.1.50: do., do.. (ijfOW Ibs. per doz,, $2.5002.73; dark. 12.23JJ 2.73: small and No. 2. S1R1.23. FRESH FRUITS Cholco stock generally ruled steady, but de mand was only moderate. Quotations: Apples, per bbl. Jonathan, fancy, f3.23fr3.n(; do., fulr to good, $2.50ii(li Mcintosh, Vtii3. .-.(); Wlnesap, 2.50h!l.23; llaldwin. $2.5l)fl3.25. Illack Twig, $2.50!i3.25; Crimes' (lolden. $2.50fltl: Ureenlng, J2.50iiU: York Imperial, $2tfi.'i; Twcnty-uunce, $24i3; Pippin, fif-: Hen Davis. 1.73n'.'.50, other varieties, Jl.60fr2.50; No. 2, M.2.W1.50; apples, in bulk, per 100 lbs.. 30c.i7$l.50; apples, western, per box. $1.2382.23: oranges, Florida, per crate. $1.73S'l: Tangerines, Florida, pr strap. $20.1: grapefruit. Florida, per crate, ll.7M3.50; lemons, per box, $3Q4: pineapples, per crate-Porto Rico, Jl.5Off2.60; Florida; J2JJ 2.30; cranberries. Cape Cod, per bbl,, ittitW; do.. Capo Cod, per crate, $2.SOS3; do., Jertey, per crate. $2.5032.75: strawberries, Florida, per qt., iySfi03e. VEGETABLES The general market waa quiet and without Important change. Quotations: While potatoes. per bush.. $ltl.20. White potatoes. Jersey, per basket No. 1 Rose, UO8TO0. ; No. 1" other varieties, 00670c. ; No. 2. 300c. Sweet potatoes. Jersey, per basket No. 1. 4O50c; No. 2, 15623c Sweet potatoes. Virginia, per bbl.. il.50et.73. Onions, per 100-lb. bag-No. 1. $2S2.50; No. 2, 75c.2$1.25. Cabbage. Pan ith. per ton. JSail, Celery, New iirk, per bunch. 25Ji73c Spinach. Norfolk, per bbl., 7;c.fill. Kale. Norfolk, per bbl.. 1 Oft 75c! Lettuce. Florida! per basket. $181.50: do.. North Carolina, per basket. 73c.rt$l. Ileana. riuuua, per usmvi. ii,ouii.,.j, ivait, r loriua. per uasK.ec, 9r.i..-g, t'epners, Florida, pi PRESSURE ON CURB SENT STOCKS 0FF Trading Moderately Active. Driggs-Seabury Down Five. Erie 4s Also Lower NI3W YOIIK, Jan. M.-In tho market for outside securities todny the trading was moderately active, and while a gen erally steady tono una innnlfcst at tho nlltJlet. Iic-fnrn thn ral Imlf 1,n,- . t , . ... fc ..,,,, ,,uUi KaeHCg I pressure developed, which brought about . , ,-tiv.,,uiii; luiiuiivj , especially in 8oms of tho higher priced sh'tires. DrlBfis-Senhury, on small dcallnR.1, Tan orf five points; MlOvnlc Steel eased off Vi .Subinaiino lloat jccllncd 4, AJax Rubl ber ?J. Jtotor stodts -. ..-o llltcw-Iso heavy! Chovrolet, on small dcallnrt?, was down two points nnd White Motors was frac tionally lower. Oil stoclts were quiet nnd easier, In sympathy with the rest of the list. Coj den ruled steady on fair activity. The mining Issues were heavy. Kcnne cott cased oft li; KIrst National, ',, Erla , convertible 4s continued downward at a recession of ?1. l'eooers. Klorlda. carrier, t.75t2.z.. ugipiunt. Florida, per crate, $2(32.50. Tomatoes, Florida, per crate, 50o.flJl.no. Mushrooms, Florida, per 4-lb. uasaci, eiiuA.GHi. DIVIDENDS DECLARED Ruckeye I'lpd Line Company. $2. payable March IS to stock of receni- February 23. Orcenbay and Western, regular annual a per cent, on class A debenture and an the capital stock, ana H "t 1 per cent, on class H deben tures out ot net earning for year to December 31, 1015. For preceding year K of 1 per cent. was declared, on tbe "B" debentures. Dlvl deoda are payable February 7. Dividend on stock Is payable to holders of record February 5. Dividends on debenturer are payable upon presentation of latter BAR SILVER The prn-e ot commercial bar sliver today was ft U to 27d. la iv York silver was oft k. at Wj casta. Hid. Asked. , 3D 35 5ot! Mil INDUSTRIALS. Am Hrltlsh MfK Am .Marine ai, Atlantic (lulf ; V I S S SRli Atlantic (Hilt pr AJax Itiibher Inc w 1 Cii'i Canadian Car & Foundry 05 Canadian Car & Foundry pref S5 Chovrolet Motor Car 124 Chandler Motors n."l Cuban Cane Hujiar An Curtlss Aeroplane M DrlRRs-Seabury in Hmcrson I'lionoprnph 12 HuskeU .t ilarser Cnr 47 llendee Mouufncturliift 2H Inlernatlonul Mercantile Marine..., 171; International Mercnntllo Marine pfd N) International Nickel new .Ill, lvcuy KprlliKllelil Ivathodlou llrouze pfd ... t-co Tire Manhattan Transit Maxim Munition '14 Mldvale Steel CT, otls Klcvator KW l'eerless Motor 27 l'oolo llni; & Machinery 115 St Joseph l.cad tt!s S S KresBO w I 1 Standanl Motors 7 Submarine float v t c ctfa B-'Vi Trlancle Film v t ctfa OU United Trollt Sharlnu IH U S I.lcht nnd Heat 3t IT s I.tBht and Heat prf Whllo Motors w 1 5" World Film 1. STANDAltD Oil. SUnSIDIAniES International Petroleum 1MJ Illinois g Ohio Oil , JOS Prairie Olf K? Stnndnrd Oil of California '(J Stnndard Oil of New Jerfey Standard Oil of New Vork ....... .21.' OTHi:il OH, STOCKS. Cosden Oil lS'i Chalmers Oil 0 Houston Oil 20 Midwest Iteflnlnu 51 Sapulpa Oil OU MINING S'roCKS. Atlanta Cerro do Pasco JJ llutto C & . v t ctfa Iltittu ft N V 21? First Nntl Conner ,2 (loldllelil Merner ',, Ilecln Minim; JJ Howe Snlllld ,'1,, Jim Huller "', Jumbo Kxtn ,', Kennecott Copper 'i MeKlnlev-DarrnKh '4 Mines of America. i.. Nlplsslni: Mines Co J San Tnv ;! West j:nd Con 7 West Knd Intension i BONDS, Urlo rluhts do 4s Italttmore & Ohio Ds Cerro de I'ns (is New York Stato 4s St Taul -is , M R71i 87(4 .10215 iwvi no 'S . ... 03 MINING STOClt QUOTATIONS, TONOI'AH e'lm.'!) ,,, A,Wi .llm nutler 'JJ',' MacNnmara ,j Midway .K Mlipah Kxtension i Montana 7 North Stnr -,V? Tonopnh ilelmont Irl Tonopah Dutenslon iff Tonopah Mining ';S ltescuo Eula j West End " Atlanta Hlue Dull Ilooth llulldog C O 1) , Combination Fraction Diamond held II II Daisy Florence ..,, Roldtleld Consolidated Ooldlleld Merger Jumbo Extension ... K'ewanas Oro Sandstorm Kendall ... Sliver I'ick Fairy Aiteo Klmueriy. Nevada Hill Arizona United . Nevada Wonder MISCELLANEOUS. Charles J. Bender & Co, INVESTMENT BCJNDS Members Philadelphia Stock Eichinp 421 CHE5IMU1 aiwcfa ELECTIONS. IBP" ...... i,Vl CENTENNIAL n.uii"---,. Philadelphia. Pa., J?n. -,, At a meeting of the Doara '"" held this day, the following omcers "'"edwaiid M. MALPASS. Pre.idt JltWIN "''"fISHEB. Cashier. -i at rt wra CumiuercUt Trust Dilli mi.'M ihi adelohia. Jan. yT, .: At a meeting of the .""f.nd efi-es'l held this day, a Quarterly .';? ,eP lull (4) l'er Cent, was deelar(duw'WM .i.riVr ih coruDany. poyable on r"Til 1. 1918. to ahareholderu of recoru -a Cheque, will he fkE8T, Tf(.,ur. 1613 DinEOTOKY OF ..CCOCNTANT9, Certified l'ublio AccoantaoU "BUBN8 & SPBAKMAN St JJoarae. li 1 i . fca --i iiha i -iiiiW-
Significant historical Pennsylvania newspapers