gmm"W6 ' :wiP 'M-t flr jwp;-?y?T'r-'V' 'yMI wpr'' '
ganHgMT . -
16
'
EVENING LEDGEK P&ILADEIJPHIA, MONDAY, JANUARY 31 1916.
m
FINANCIAL NEWS
1 LIQUIDATION IN PROGRESS ALL DAY;
PRESSURE LESSENED AT TIMES
Street Assumed That Market Was Discounting Every
, thing Unfavorable Bonds Were Firm Anglo
( French Issue an Exception, Being Weak
High Points in Today's Financial News
Offering of $15,000,000 three-year-old S per cent, notes of Remington
Arms-Union. Metallic Cartridge Company sold in few minutes. Forty
per cent, of Minneapolis and St. Louis stockholders agree to rehabilitation
plan. Railroads continued to report good December earnings. Copper
for May and June delivery 26 cents. Philadelphia bank statement showed
decrease of So,us3,ooo in surplus. January bank clearings ana transac'
tions in stocks and bonds in Philadelphia large.
(iigncr. stock ana commodity markets tower.
Bar silver slightly
NEW YORK, Jan. 31.
President Wilson's speeches In the West on Saturday and the press com
ments on his views yesterday nnd this mornlntr, whlln accepted ns being wholly
politics, had nn unsettling influence on the npcctilatlvc situation.
Selling orders were brought In over Sunday to the Wall street district in
largo volumo and when the market opened this morning it was in the one
Bided condition of stocks belnj? offered by every broker on the floor, with no one
apparently having1 orders on the other side. Prices as a result sustained losses
In the general list, ranging from 1 to 3 points, and as lower levels were estab
lished many stop-loss orders wcro reached.
Liquidation was in progress all through the day, although at times the
preasuro lessened and some rallies from low levels occurred. The Street gen
erally assumed that tho market was discounting everything unfavorable that
could be conjectured as possible, Including diplomatic ruptures, war possibilities
and politics.
As lower levels were established tho Street came to believe thnt the larger
Interests had taken profits and unloaded their stocks on various upturns since
tho beginning of tho now year nnd nro now more than willing to see declines
occur.
In various quarters one hears that liquidation Is necessary beforo tho
market conditions can again be regarded as sound, but this talk was not
heard whilo prices were advancing and brokers' wires wore kept busy carrying
bull points, reports of Increased earnings and promises of better dividends.
With nil tho weakness In tho stock market bonds continued extremely
firm and prominent brokers In the bond crowd agreed It was Impossible to
cxecuto a largo buying order for good bonds without advancing the price.
Anglo-French bonds, however, were exceptionally weak, declining from 05V4
to 94-i, which was attributed by some to the character of tho news from Franco
In tho past few days.
Although It was known that the Lapland brought In a large amount of
foreign-owned securities there was nothing In tho foreign exchange market to
indicate any substantial foreign selling. Demand sterling continued to move
within a narrow range.
The war order stocks generally ns a group were in good demand after the
.opening. Some of the most Important houses on the Street wcro persistent
buyers of Crucible Steel nnd there was evidence of strong accumulation of
Lackawanna Steel and Baldwin Locomotive.
Copper for May and June Delivery, 26c Cents
Virtually nil copper dealers have advanced their quotations for May and
June delivery to 26 cents a pound, 30 days. Some business was taken at 25Vs
cents, but this quotation is gradually disappearing, and while some Into June,
possibly, could still be purchased nt that figure, tho quality would bo very
email. Demand from domestic manufacturers Is largo and urgent. Inquiries
from Europe, especially France and Italy, are said, to be large, and Russia
also is in the market for a good-sized quantity.
Gold and Securities on Lapland
The steamer Lapland, which arrived at New York on Saturday, brought
seven cases of securities consigned to J. P. Morgan & Co. The steamer also
brought 20 boxes of gold consigned to tho Canadian Bank of Commerce nnd
two boxes of gold consigned to W. K. Brown, of tlje American Express Com
pany. The 20 boxes of gold received by the Canadian Hank of Commerce are
valued at 100,000.
COTTON LOWER BECAUSE
OF DISAPPOINTING CABLES
Business Active, but Operations Were
Mixed
NEW YORK, Jan. 31. In view of dis
appointing Liverpool cables and consid
erable bearish sentiment around the room
before the opening, the tone of the cotton
market this morning was considered com
paratively steady. March was down 14
points with other options 6 to 10 points
lower.
The best showing was made by tho late
positions. Business was active, but opera
tions were mixed, many traders buying nt
one price and selling at nnother on the
call. Profit taking by shorts was the
main factor, and there also were some
old buying orders on the scale down. These
continued after the call.
A rally of S points followed the opening
hreak, but shorts seemed to be getting
their cotton very easily and offerings In
creased on a more bearish view of the
epot situation. Prices broke sharply in
consequence, with the active months sell
ing about 12 to 18 points under last
nlght'B closing figures. Weakness in tha
stock market added to tho nervousness
of sentiment and while a good demand
was encountered around 12 cents for May
contracts. It appeared to be readily sup
plied by fresh selling or renewed liquida
tion. There were rumors that spot
houses In Memphis market were becom
ing uneasy, which, combined with reports
of Increased offerings In Alabama and
New Bedford advices Indicating that
couthern shippers were meeting the de
cline In futures, probably accounted for
part of the selling.
The heavy month-end exports, amount
ing to 70.219 bales for the day. led to local
ehort covering and a rally of several points
in mldafternoon. Sentiment, hotvever,
underwent no change, and appeared to be
as bearish In most quarters as at any
time during the last fortnight. The In
creased strength of the technical position
resulting from the extension of the specu
lative short Interest led some of the more
conservative traders to even up accounts
for the time being. The exports of cotton
for the day aggregated 70,219 bales, com
pared with 132.300 bales a year ago.
Rainfall was general In the cotton belt
this morning. Temperatures were about
normal.
The receipts of cotton at tho ports for
the day were estimated nt 30,000 bales,
compared with 26.630 .bales last week,
86,249 bales last year and 34,170 bales In
1911.
Sat. clou. Open. High. I-nw. close.
March "IK! Jl.W !!. ll.M 11. Ti
May fi. 12.13 12.02 12.10 12.03 11.04
July . 13.27 12.M 12.24 12.0.1 la.tlfl
October 12.2-1 12.1 12.24 12.011 12.0H
December ... 12.40 12.34 12.3S 12.23 12.23
ppot 11.U3 Jl.W
LiverpooLCotton
LIVERPOOL, Jan. 31.-At 2 p. m. fu
tures were quiet. Quotations: March
April, 7.53d.; May-June. 7.16V4d.; July-August,
7.41d.; October-November, t.YVAil.;
January-February, 1917, 7d. The sales
were 7000 bales, including 64Q bales Amer
ican. BANK CLEARINGS
Sank clearings- today compared with corre-
Mui.ln, riflv laat two vcan.
"- ,(ilil ,Q,K
11)14
Philadelphia, l31.4Ja.S0fl 23,tWT,256 133,847,071
Baltimore. ., 6,ou0.GSl 0.2M.015 5.7fB,2M
Maw York J.29S tt4S.Sl 24.5tn,88n ,SV,.Mi
nation
21.2T3.00U 18.tB6.42U 1U.070.S74
Record Copper Outputs
vew YORKT. Jan. 31. Bav Consolldat
cd Copper made a new record of monthly!
output or copper, uy proauciion oi o.suyjw
pounds In pecember. This compares with.
a. previous, high record of M9S.719 pounds
in May, 19H- Utah's October production
of 16,004,607 pounds was the record for
that company.
Advance in Lead Expected
NEW YORK. Jan. 31. The, undertone.
of the lead market U so strong, and the
demand so large, that predictions are being
freely made in the trade of an advance in
pi-Ice. All the authorities admit that there
U, a, tendency toward higher quotations.
DoaieaUe consumers continue to be the
jirtnutfwl buyers la this market and are
4jja all tha oietal that can be secured.
New York Bond Sales
"
S100O Adams Express 4a..
lSiKio Albany .. Nus ;i-.s.;
lowo Amor Cot Oil .Is .'
33Q Anslo-Fr I. (is
loiKi Amer Tel com- Is...
-.-.'. IIO CVl !,fl
ICkhi Armour Co iis
Jiinon Atohlson Kcn 4s
WlOOO ,0 a,, .,
f.lHMIO ,o i-v 4n 1!M10
11111 llu ."3
1 Atlim C I, Pis ...'.'.'.
. Hon Halt & O Ih
lOKHMI ,o cv )!, '
110UO IIA.O I' I.fc&WV 4s.
;) li A- o sun :iu,,.., '
1" lleth Steel lsi'.ls ....
.Vio ilo rM .Is
wa Cvnt ''eiiti1 it .- ...
hOUO Cent nil X J 5s...
H'lHI fhlll Copper 7s......
21iii Clios A Ohio cv Vs.
IIK (lies a Ohio .!..." .
maw Oil A Alton 3",s....
till Ut West Is.....
2..IM) Chi II A o Joint 4s.
ItKMi ciil II a Q Ren 4,..
P.KKK) CM Mil & St 1' rv f.s
I(inil Chi Jill A: St 1' cv 4U,.lli'J
II Ml Chi Mil A ! fd 4'.s. . IMS
40IKI Cons (,n Co lis 12.11,
mm Comput Tab H S2'J
"' Cumbcrlan.l Tel .'.s lno
sikki Del A Hurt conv .Is f n.l(ic.7i
HlKh. Low. Close
s."
. MM,
. mill
. ii.i'i
.1ti ,
.inn'.
. til'-.
. !-.
. K74
.111.1
.1014
. P2
. K.'i;
. list,
. NIL.
. 2C,
.1IVII,
.102
.1111',
.117'.
.1.11
. s
.llnUi
. US',
. li;i,
.Him,
fc!
(IIP,
ii ii;
101.
una.
HI V,
!H,
,
tin
nnij
!2
Mill
D2VS
lull.,
1021.,
101
117 !4
1.11
W.
loin,
s:j
iiss;
reii;
nun,
101",
!ll..
I'oo
lent.
M
SUV,
IW,
!)4'l,
IIM-S
imp,
ill I.J
lil'J
S7--V,
10.1
lOPj
02
1121,
US
Mil,
111... .
1112 V,
m
i:u
ss
liiip,
4MU
7.1
!IS4
(til,
lno
101',
S2U
too
lmi'.
.mil ;en& Hln fir rfil .Is.. !i7i, f!-i, 1171,
?. JO-'!1-0? 'i'"""1, lstr,s..lim l(tt M.V,
11 mi Detroit Tunnel 44s... til in ni
..in Ijh Seeur Corp Sa. ... 70U 7i 70
"0,U1 t.'.la nA ,.. ...? 1.... If.
7n
ii!''
107
::o'i
MIlJ
101 1?,
.v.v.
iiiiT
2000 Krie gen 4s
.HHHI Krle cunv Is Ser A.... 72
5100H Krlo conv Is Ser B.... MV,
5"K) Krle prior 4s Ml"
(UH Green Hay "II" 12:
IK'OO tien Eire deb 5s 10.1
luion (Ir.mbv Cons 0s 107
ll'dOO Hud & Man in .Is.... .Wi
1000 III Steel 4s 1W2 MO?
NUki lnrtl.ina Steel .Is loin?
1000 loua Central 4s 57
irio,, 111 .........i ... ...., ....
"" .1. v.-jiiiii, in Jir.fci,,., ;,, fi',,.,
K Ins C'onuer cv fis 101fl.17.Vi 17.Vi
1 i.OOO Ins Copper cv lis 1711'i 174
,i,n, ,uiero .Mei -I'-.s ,.,1,
2(K0 Inter!, It T r f .Is ll'.H,..
lfi2(VKI Inter Mer Mar it 413.102
2(mi) Inttrnl Taper lis 102
200(1 K C 11 S M 4s Ho
HK) Kan Cltv Ho .Is Irtil
TOM'! I.aek.l Steel 5s 1050... flil'J
4000 l.k tfh deb Is 102S.,.. ll.V,
1II 1,1k ii M T 5s 102
100O lincr Island rfd 4s... S7',
wui lunula a Nash 4s li.Hi
Uifti Jlkh Cent I) 4s lion
2iHl do :il.,s Kl,
.!,. .Minn a. mc 1, -is 171
"4
7IU,
Ml
,01
107
mm!
im
not.
limo Minn St I' S S M 4s.. H'l,
lirrno Mo Kan & T Ut Is... 7SiJ
riKi'i Mo Kan & T 2d 4s... 4II1,
im,i) do 1'i.s .
.VNki Monls A.- B :ma.
i'jxi Mont Power 5a...
2(tM .V.,t Tllbo 5s. . ..
Mum 1 N V c 11 :i,s.
(Juki N Y C ii Hud Is
2.MUO N Y C & Hud Itis.... HIS
2'J(i0 N Y Cent lis 11.11!
pom .V Y Cltv Is IU.V1 twm
10(11) N Y city 41-s l!ifn....tl)7l,
21 fin .V Y Cltv 1M 1DH.1 1071,
4mn N Y N II & II lis 11,11,
NKX) .V Y Tel Ren m ll'Ji;
Jliinio N Y W C & It His... M
I.VVi Norf A- West Is 01
aiirnii North 1'ae prior Is.... 01
1000 Ore Short I. rer 4s ... nil
10
... S7ii
. .. liii'i
...inn',
... Mi;
:i2.i
miii
ll2
1111
rem
in
fi.m
1112
7i
I1514
no
Kli
7RJ
411
10
HH
mr,
Rl
112'.
Illti
!is;
11171,
M)i;
17.-1;
174',
7.1
inn.,
mm
102
11l
Kill
win
11.1
1IVJ
S71
05;
IH)
K1H
Mil.',
7RiJ
III
40
J7'i
III'.',
ll,l.
VI
02'.
up.,
11. v;
ll
1C7it
107
115
0S
81
U'l
,I-IT'
lttf
moo Oro Short I. 1st lis lostl lust; mS'J
2000 Ore Ilwy A N con 4s.. "Hi III', III',
ftniu, Ij..iH.. Il-dl (tu 1I.IIA Hull7 ,n..i-
10OO IMiiHe Tel 5s lOOi
aouo Pennu Is 1IHR PUT,
KiflO 1'enna en tjs ion
looi) Penna 4V,s 1H21 W
10(yi Public Serv N J Bs.. Ihi
:tooo rteadlns gen la li.lli
l(.i Itoikv Mt 4s M!J
10110 Hep Ir A: 8 5s OS
MH Hock IsUnrt 4s SIU
tool) Hock Island rfd 4s HI
looi St IjiuIs Hwn 1st Is.. 78;
r.oon Sr Paul M & SI 1st 4s lk
i'OOO South Hell 5s lfm
2inki South Pac 4s K7
2I01K) South Pao cv 4a S!i
12MKK1 do cv ret f p 5s loili,
noon South Pac rfd 4s 11
20000 South Itwv gen 4a .... 72t4
fX) do ion 5s 1021
1000 Tenn Otlpi) 1HH?
im) Texas & Pac 1st 5s... 07
20011 Texas Co lis 105
120W) Trl-City 3s fern
4.V10 Toklo 5s 70
5000 U S Rubber lie la'Pi
500 U S Steel 5a a f 105
42l) Union Pac 1st 4s .... MS
2000 do cv 4s HI
UOoo do rfd 4s HI
20CO I'n H 3 P Is 1.1
1M) Vst Elec 5s 102tl
TCiiO do cv .la , VUK
1C00 West Md 1st 4s 7111,
40jsl West Shore 4s 02
SOU) West Union 5a lOHi
,UU'..
P!Me
lOU
mi
no
11.1
Mill
IIS
Ml
III
7Si
lllitl
'IS
RS'l
10H
)i
72H
102
lUHi
07
105Ji
105
OT's
III
111
45
102U
110
7IK
WJ
IO01
i)'j';
10(1
1111
no
0.11,
ns
Mti
iti
7M,
ij
ss
10i
no,
72i
1024,
11UH
07
10.11,
imu
70
10.11,
105
07
01
01
45
1021,
130
U2
Total sales, $1,031,000,
$1,423,000 last Monday.
1021, 102
compared with
Associated Oil Slet in Merger
NEW YOOK. Jan. 31. Ab wan stated
last week the oil merger In &o far as the
Associated Oil Company Is Concerned has
fallen through. It has been definitely de
termined that unlaws the proposed pur
chasere of the property meet the terms
of the banker representing- the Associated
C'ompauy. that that organization will not
be Included in the group. So far as the
Mexican Petroleum and the Transport
company arc concerned, It Is believed they
will be taken In by the new organization
at an early date.
New York Stock Sales
tt close. 11 1 it h.
Alaska J Clold Mines. . it) OH
Al.nU Hold Mine ... S,!'( 244
Allls-Ctwlmers Mfg. ... 20 20'S
Allls-Chalm Mfc of. . . 78H 7R'
Am Ab Chcmlc.1l OSif 0714
.m licet siiif,ir di'f Km
Low. Close.
OU n,i"
2.1IS
2.VS
70M
071S
025S
10.1
1 2.1 I
2014
70' i
0714
0214
101
Am tiMke S fcf 10.1!$ 101
Am fan oUf 02U W)Ji BUS
Am Can pf 113J 112!( 110 110
Am car & Foundry... DAIS 05J4 01 05
Am Car & Ktly pf 117J4 117)4 H7!i 117'4
.m coal I'rodiicts... 101 10241 100'i 101
.m lotion oil r1
Am Erprpst i;i
Am llldo & Lcathct. . . 101.
r,V(
20H
22U
II
51
130
lO.'l
fil
28'f
22(
I0U
Ki(
fil '4
130
0J4
AH
2(Wf
22 if
10! i
0214
filli
1.10
OH
4S14
27U
H)H
0.1U
Am llldo tt I, of
Am Iro Sccutltlca
Am I.lineenl
Am l.lnseecl tif. . .
Am Looomollvo o:il
Am Locomotive pf.,..102!i K)lii 101M 101M
Am Malt HH HH H'j 8JS
Am Malt p( .12'4 It .11 .11
Am Smelt & Hef 00)1 !li'' OOif 00S
Am Smelt & Itef pf... 11.114 1MU 1I3U lM'f
Am Steel Foundries. . . 55 fi.'l 53 C3
Am Sugar Ileflnln?... .113 1I17S 110J4U1154
Am Suear Her pf 117H II" 117 117
Am Tel & Cable 03S 0.5 0.5 05
OIL STOCKS WEAK
ON NEW YORK CURB
Am Tel & Tel
rtn Tohtrcn 201
Am Wool tr r o(
Am 7. 1, !c Smelt 07
Anaconda Copper SoH
iisoritiert oil 02!4
1271 127 120)4 120'i
'OIK 201 201
IS.'f 47'( 1811
00)4 051 no
85 8214 KV,
0214 02 t,
Atch TASP 1055$ 10314 101,'f 102! j
Atch TASK pi 100)4 lOO'i 100 KXI
Atlantic Coast Line... 113 112'f 112 112
Haldmn Loco 10S 100H lOO'l 101
iiaiumoro : unio .... 88i-i 88) i SOU 87
Baltimore A Ohio pr. . 77i 77!S 70'4 7014
Batopilas MlnlnR 2!ii 2'j 2! 21!
Uethlchem Steel 105 -155 4.10 430
Dethlehem Steel pi. ...130 130 130 130
llmoklyn Rap Tr . . . . 87 80! I 80' 80" i
ItruiKuIrk T .t It sec. ll'( id's ll'( 10
liutle t Superior 75'4" "Mi 74'1 75'i
Ilutteriek Co 30 20,'i 2WS 2!l'
Cal IVIroleum 2!1? 2!) 2S 28
Cal l'elroleum pf om 01 57?li 581
Canadian r.ielflc 1071(1 Ui7)i Hill 100.',
CasoJITrMpf 80'i 80 80 SO
Central Leather 52'i 52)4 uH 51i
Central Leather pf. .. .110'4 H0'4 10!)si KMH
Chesapeako & Ohio... OIH Ol'f 001, 01 !i
cniie copper 2.H4 23'i 22 t
Chlno Copper 52!( fi2? 52
Chleano (!t West 12! j 12Jj 124
ChliMRO (it West pf. . . 35,'i 35 31
Chi Mil & St (10)4 1)0 !)5
urn A: .voilhwestcrn. ..130
12'J'f 129
lGJi 10!4
72'4
42'
IS'r
131)) 15014 150!,'
52
I2'4
3l!i
or,'(
12!)
101
72)4
12)4
48',
Chi It I & Pae kp,-
Cluctt Tea & Co 73
Col Fuel & Iron It 3'(
Comput T llec Co 41) 487,
lonuncniai lan mi ,,', V.i!, 1.
Consnlltlated Oas 137,'i 137 135'4 13;
Corn Products ltef... . 22 21?,' 20Jj 2Uj
Com I'rocl Iter pf 00' 4 DO llfi'i
Crucible Sleel 70'i 75'( OO'i
Crucible Steel pf U0j 110 10!)'3
Culian-Am Sucar . .. .170!, 170 1;
Delaware Iluihon .
I3el Lack & West
Detroit United Itys..
Distil Sec Corpn
Dome Mines
Dili S S & Alt
Klec Storace Hat
tCrlc
Krlo 1st pf
Krle 2d pf
Fin Mln & Sm pi 53)4
ueneral Motors. . .
(icneral Motors pf
Ooodrich n F Co 6U'4 09 07f,' 07!,
Oranby Consol UU4 02J4 00), 01)4
Oreene-Cananea 47U 47), 47 47
Ot Northern pr 121 120 11914 U'J.'i
tit :sor cis lor ore pr. . 44J 43JS 42:, 4:
224
7Mi
43!
02
.10
52
Ki'f
223
70
44
2S'i
r,
ni'i"
.13 j
.11
40
i;
!23
78?i
41
20 '4
5
00's
35
50' I
45','
fil)i
90
74
109)4
170
I5()l.'
22.1
7(1
43' 4
111)',
33' 4
50'4
40
51
470 450!,' 450! 4' 450! (
1121, HI 111 111
Il'5'i 103)4 105
. 20W 20)4 20' 4
. 59 fill
.1KW 109)i
r-i
id
... 10)4
... 40'4
... 41)4
. . .208
. 17)4
. 80
20 If
01
82,'i
. 70
. 21
.125
. OS
. S7)j
73
17?f
18
74
10
45
44)4
58!u
109
73
17f
10J
73)4
111
44)4
43
(iuncen Kxpln 22',' 2214
Illinois Central
Int Aerlculttiral.
Int Aerleultural pr
hit llarv X J
Int llarv Corpn...
Int-Met v t els....
Int Con Cor v t c sh. lS'f
Int Con Corp pr. .
Int Paper Co
Int Paper Co pi. ..
Insp Con Copper. .
Int Nickel v t cis
Int M M els or dp. . .
Int M M pr c or dp.
Kan City Southern. ..
Kan City Southern pi
Lack Steel Co
LehlRh Valley
I.onc Island
Louis Nah
Maxwell Motors
Max Motors 1st pi."..
Max Motors 2d pi...
Mexican Petroleum. ..101
Minn St P & S S M. .122 120)4 120
.'03)f 202
17','
70Jf
20U
OOJf
831j
75! i
20)4
125
07' i
80)4
fill.
102'f
1054
78
255 i
GO','
hOli
74 's
20
124
00)4
80),
40),'
99
filf
5J4
14!f
37J4
fi!f
..111
. . J22
.. 25
.. 07' j
-.114
.. 15'4
..143
.. 07
..105IJ
00
27
Minn A St Louts
Mo Kan A Tex
Mo Kan A Tex pf. . . .
Miami Copper
Missouri Pacific
ilo Pac tr crs
Montana Power pr.
Nat Hkcult Co
Nat L'nam & S Co. .
Nat Lead Co
Nat Lead Co pr. . . .
Nev Con Copper
N Y Air Drake. . . . ,
N Y N H & 11
N Y c & 11 rt
N Y C & St L 2d pf
N Y O & West
Norfolk & Western..
North American
Northern Pacific...
Ont Silver Mln
Pacific Tel &Tel...
Penn Railroad
Peoples Oas Chi
Philadelphia Co ....
Pitts Coil Co N J..
Pitts Coal Co N J Pf . 100H 105
Pittsburgh bieel pf 00J i 90
Pitts C C & St I,. ...
Pressed Steel Car
Pressed Steel Car pf.
Pub Serv Corp N J..
Quicksilver
Quickbllrer pf
Ity Steel Sp Co
Hay Con Copper
KiudlnB
Itepubllc Iron & S.
22) i
105
2014
GSH
lOII.'f
7.1
17f
17'i
7.1)4
10
44! 4
43 'V
203'f
lGj
78)4
2554
00)i
Sl'f
75'4
20)4
121
07! f
80)4
4Uf
102)4
120)j
5
5)4
14)4
37)4
4)4
110
5f
14)4
37,'i
5
4!S
110
123
2J
07)4
114H 114
Ifiif 15
142 140)f 142
00)4 055-i 00
101?f 103'f 101)4
01 00 GO
27 20U 20'f
,llfiS 110'f 11414 113
. 70)4 70 G9 09f
.113)4 11214 111W 112)i
5!-i
UK
30!f
4)4
4!f
111)
122)4 123
23 23
00 00)4
114
15)4
7.4
. 40
. fi7f
.100?i
. 4H4
31?
7Jf
39
S7)f
1004
41)4
,iu,
0)4
38)4
57! f
. SI
. 53
.101
.110
. 5)4
. 754
. 38)4
. 21
. 77
50!f
9
54Jf
K
38)4
5714
100)4
41
ao'i
10l!i
90
79
54
Itepubllc Iron & S pf. .108
Hock Island.
Hock Island pf
bt IjuiU i. S F ,
St I, &. S F 2d pr
Seaboaid Air Line
Seaboard Air Line pi.
IS
54
5)4
7
101,'
37 f
lot;
41
29)
101)
90
70
53!
101)4 101)4 101)4
110)4 IIS 11
51, fi'i
7)4
3SU
22)f
75)4
48
108
IS
J4
3S)j
23)4
7014
50
10S
S
$4
4
0)4
10)4
3714
Sears Hoebuck & Co.18214 180
Sloss-Stier S & I. .
Southern Pacific
Southern Hy
Southern Ky pi
Standard Mllllne.
58
.11X1
. 20!f
. 00
9.1!f
Standard Milling pf... 87
Studebaker Co.
Tenn Copper....
Teias Co
Teias Paciric
Third Aienue. ...
Twin City II Tf.
Under .Typewr ..
Union Bag & Paper
555,
0914
20)4
59
02
87)4
4
654
IB
30!f
178
555,
OS
20
59
92
87
5)1
7Ji
3S),-
2.1f
75'f
49Jf
108
JS
34
4
054
10)4
37J4
178
55!f
OSlj
2014
59
02
8714
.115)4 141)4 14154 141
5.154
197
... 8
... 605f
... 05
... 88)4
614
55
105J4
75f
00)4
05
SO
Union Bag & Paper pf 28)4 2814
United Cigar Stores. . . O'f 9)4
United Cigar Mln 0154 62
Union Pacific 133 131
Union Pacific pf Rt S3)f
USInd Alcohol 144 145
United Fruit Co 137)4 137
U SC I P & F 17 1614
U SC I P& Fpf.... 49)4 495,
United Hys Inv Co.... 17M 17
United Itys Inv pf 3.1 32
U H Hubber 4954 50S
53)4
190
7)4
5914
05
86
0)f
28)4
0)4
62
5.1)4
102)4
754
59)4
05
80
01
28)4
9).
02
131)f 131Jf
R3 83
141 141
130)4 130)4
1514 1514
49),' 49)f
17 17
315f 32
49 49
U S Rubber 1st pf...i07.'f 107'f 107)4 107)4
U S Steel Corpn S2)f 81)4
U S Steel Corpn pi.. 117)4 110
(in
10
46)4
53
14)4
44'f
28)S
70J4 80
115M 115)4
77 77)4
10
45)4
55
14)
4 Of
28)4
Utah Copper 78)4
Utah Securities 19)4
Va-Caro Chem. ., 47
Valron Coal &0.... 57
Wabash 1414
Wabasftpl A 45Jf
Wabash pf H 28)4
Wells Fargo Kip 128
Western Union Tel. . -. 88)4
West E li U 05)
West E & M 1st pf. . . 76)i
Western Maryland. . . 27)4
Wheel & Lake Erie-... 3Jf
WUcoaslo Central SOU
WUIyj Overland 202)f 201)4 199)f 201)4
Woolworth F W UOtf 119H 119 UWf
Quoted ex dividend.
19
45)4
55
ID,"
44
28
120)4 129J4 129)4
6S4 tWH 87)4
63
75
25)(
J
36lf
61)4
70
25)4
3
36)4
01
70
25)4
3
36)f
Total fcsles, 968,100 share, compared with
617,300 chare Uit Aleoday,
Irregular Recoveries Were Not
Convincing Heavy Sales of
Erie Convertibles
SEW YOllK, .Inn. St. An was Renernlly
expected tho ncctlmutntloh of soiling or
ders, due to tho speeches of President
Wilson both here and In the West, re
nulled In a sharp break In tho market
for outside securities todny. and, while
some rallies followed on covering, this
was shown In only n few Instances. Tho
declines In tho general market extended
from 1 to about 5 points, itltlioush In
some ot the oil slocks recession of from
10 to IS points, was shown.
Mldvnlo Steel, after declining 2V,. rallied
about I point; Htibmnrlnc Uoat fell 2,
recovering fractionally; AJax Hubber ran
on over a point, nlsg International Nickel.
Motor stocks, after early pronounced
weakness, rallied sharply In spots. Chcv
lolet declined 6 points, recovering 4;
Chandler was down 2; White Motors
ruled steady.
Standard Oil of Indiana was offered
down about 15 points; 1'ralrle Oil and Onn
declined 10 points; l'lpe Lino 2; Standard
Oil of California at one time showed a
loss of 17 points, while New Jersey
reacted 4 points. Cosden Oil. nftor touch
ing tho previous high mark, eased off.
Copper stocks after a sharp break showed
good rattles. Konnecott declined 3 points,
but subsequently on heavy inside pur-cI-BBo
rose to near tho highest. Krle con
vertible Is continued under pressure on
extremely heavy offerings.
Tho Listing Commlttoo of tho New York
Curb Market Association has ruled that
February 2 will bo tho day of delivery or
teptporary certificates In settlement of all
outstanding when, ns and If Issued con
tracts In the common and preferred
Bhnrcs of tho Baltimore Tube Compnny,
Inc.
INDUSTHIAI-S.
MM.
.. S.s
,. :i's
. . "n
. . 42
,. HH4
, . m
, . s.-i
,ni
'.' sCii
,. 4MJ
.. 4.1
. . l:ir.
.. lPi
,. 4(1
,. 211
. M
.-. 7014
!! Is
.. ltt
. B
, . (B
,. IBI'.4
. 27
,.ltr
. 14T4
.. in
. 7
. 3.T.4
. r.11
IS
. :i
. 4V,
. no
. ft
STANDAIID Oil SUDSIDTATtlKS.
....,107
ri7o
43s
Amirlean-nrlllh Manufacturing.
Amorlran Marconi
Atlantic Oulf & W I 8 3
do prof
AJax Hubber Inc w I
Cnnnrllan Car am! Foundry
Cnnnrilan Car nnd Koundry prof.
t'hpvrolct Motorcar
I'hnniller Mortors
r'lilmn Cane (uxar
Curtis j Aoroplano
DrlgRS-Rciliiiry
Ilmtrson Phono
Ilnsltpll St Marker Car
Iletnlce Manufnrtiirlnit
International Merchant Mnrlno...
Inter Mer Marino pfd
Int Nickel now
Keller-Sprlnirneli!
Ivatlinitlon Dronio pfd
l-eo Tiro
Manhattan Transit
Maxim Munitions
Mlilvslo Steel
Otis I'levntor
Tecrlew Motor
I'oole Bng & Mach
St Joicph Iad
S R Kre.iRO w I
Standard Slotors
Subimirlne Ilo.it v t c ctfs
Trlansle Film v t ctfs
rnlteii Pront Sharing
V S Light & Ilent
C S l.lKht & Heat pfd
Vhlt Motors w I
World Film
Int Petroleum ...
Illinois till
Ohio Oil
s o or cnurornia
S O of New Jertov
S O of Now York
OTHEIt OIL, STOCKS.
Cosden , . .
Chalmers Oil
Houston Oil
MMwoit rtennlng
Papulpa
MI.NT.VC, 8TOCK8.
A tlanta
llutte f & Si v t ctfs
Ilutto tb S V
lrst National Copper
rioldllcld MerRi-r
llecla Mlnlnit
llono Round
Jim Ilutlcr
.lumbo i:.tcnalon ,
Ket.ocott topjer
McKlnlev-Darraith
Mines of America
NlnlsKlng Mines Cb
San Toy
West Knd Con
Weft nnd Extension
Magma ....
n & O 5s ...
Krl 4s
do rights ...
Jf V Slnto 4s
St Taul 4s .
BON'M.
200
18H
r.
1014
S4
0)i
20
R
2'i
nu
17
:i"i.
hi,
fKt
l't
a
20U
75
.102
. H7',i
...10.1
. .. li."', 4
Asked.
4',
211
41
HSU
711
IH)
IB!
TO
no
142
12ti
40
.1(1
17U
SO
r,i
4sw
S14
W
2S
12.-.
15
inw
t'l
14' 5
(li.
IK
Tt
4'1
Wl'i
ITS
13
170
ino
Ml
211
IR'i
in?;
s.i
21
Mi
2'i
III,
IS
:
OS
10
-V,','
114
HI
7(1
:t
151i
102H
81
051s
FOREIGN EXCHANGE
NEW YORK, Jan. SI. The market for
foreign exchnnge wna easier at the open
ing for sterling, francs, lire, Vienna ex
chnnge, guilders and rubles. Relchs
marka were nominally unchanged. Busi
ness was small. Quotations: Demnnd
sterling, 4.75; cables, 4.761: 60-day bills,
nominally, 4.72; 90-day bills, 4.70; franc
cables. 6.57?i; checks, B.SS; relchsmarks,
74Vi and 71',4; lire cables, 6.76; checks,
6.75H; Swiss cables, 5.1754; checks, 6.1S;
Vienna, 12.45 and 12.W; Stockholm. 27.50
and 27.55; pesetas, 19.0.1 and 19.06; guilders,
42?i nnd 47Tt; rubles, 20.65 and 29.75.
Around midday tho market was featured
by extreme dulness. Quotations: De
mand sterling, 4.76; cables, 4.765ij relchs
marks, 74 1-16; franc cables, 5.87'4: checks,
6.SSU; lire cables, 6.75; checks, 6.76; guil
ders, 42i.
RATES FOR MONEY
Call. Time.
New York 1J)W2 2J4W3
I'lnUdelpMa, :i!li!4 :J4
Hoston .1 4 4'4
CIiIcsko 31534 4 44
Commercial paper, threo to six months, Phila
delphia, 3iiff4 per cent.
MINING STOCK QUOTATIONS
TONOPAH STOCKS.
Hid. Asked.
Jim nutler i , .irt
MacNamara , 03 ,01
Mldwav 14 .111
Mttuah Ext 20 .21
Montana '.' .'
Nor. star 15 .10
Ton Bel 4i t
Ton Ext 4t, 4i
Ton Mln Ilti 7
nescue ITula na .on
West End 76 .78
GOI,DFIEL,D STOCKS.
Atlanta 20 .22
Hlue Hull O.I .01
Itooth 40 .41
llulldoe 02 ,m
C. CI. D M .114
Comb. Frae 07 .OH
Dlamr. II. B ,,,, ,04 .01
Ualsy 04 .115
Florence ,.... .4S 52
noldf. Cons 02 .114
(ioldf. Merit. ,.1T .18
Jumbo Extension , 1.2.1 1.30
Kewanas 20 ,21
oro 05 .011
Sund Kn 05 .Oil
Silver rick on .03
MISCELLANEOUS.
Fairy Aiteo 01 .03
Klmberlv 02 .01
Nev. Hill IT .10
Arlrona Ur. .30 40
Nev. Wonder 1.05 1.70
New Incorporations
DOVKH, Del., Jan. 31. The D. D.
nenlon Manufacturing Company, to en
gaga In the manufacture and sale of
incubators, brooders, vacuum sweepers
and washing machines was Incorporated
here today with a capital stock of $3,000,.
(XW. Incorporators: D. D. Benton, Pull
man, Mich; II A. Erazen, P. E. Frazen,
Delavan, Wis.
The United States Theatres Corporation
to engage In the manufacture and sale of
motion picture films and to conduct places
of amusement wbh incorporated with a
capital stock of $2,000,000. Incorporators:
Franklin Blen, Thomas Adam, New York
city; Franklin Blen, Jr., Englewood, N. J.
The American Bolzlne Company, Inc.,
to engage in the manufacture and sale of
bolzlne was Incorporated with a capital
stock of 11.000,000. Incorporators: S. A.
Anderson, Joseph F. Curtln, Samuel B.
Howard, New York city.
French Order More Shells
French Interest who have been In
the market for 500,000 tens of shrapnel
steel have closed for the major portion
of this tonnage. The Brier Hill Steel
Company took a considerable part of
this business, all It could turn out until
the end of the year.
Another French, Inquiry which has re.
cently appeared In tho markets Is for
2.500.000 forglnga for 6-Inch sheila, for
delivery within the year, and another
J ,900,004 forgta for delivery eves U17.
Sales in Philadelphia
Sat. close. High. Low. Close.
1 Am nireys 81 30 30
10 do prrf 0(1 ll.V, 0V4
10 Atchison 101 103H
100 naldwln Loco 10SH ltUli
' 332 fluff & S t c... 41 42 41't
loo do pref 01V4 IK", m'4
60 rtrlll J O ,Wi 3.. 33
7175 fam Sleel .... 7:i'5 72H 70S
320 Klec Stor M 02 UOIJ
100 Krle nov, an .131,
M Oen Asph pfd. 71 70i 70
10 In Co N Am.. 2.M4 2.'i 2.VJ
f3 Lk sup Corp... OTs nH 0'i
201'LclilKh Nnv ... 77V, 77 7.V4
10 l.ehlnh Vnl .... TllU, Tft'i 7114
tlo 'Irfh Vnl Tr pf 40 wiii ,ifU
l') do pref in lo 10
123(1 rennn It II RSI, .S .'i7'i
147 I'n ?al .Mfg.... 100 lto DOS
100 I'lilla Co 42 42 4Pd
310 do cum pref.... 41 41 4.1'i
273 1'hlla Eloo .... 27H 2?v, 2
23 i'lilla rtnp Tr... 18 Is IS
tfilj do tr ctfs IS IS I7'i
20 Pblla Tiiw 70 7!) 711
270 ncndlng 7714 70'i 3'i
30 da 2d prof 42 42
150 So Itwy 21 !i 20 20
M0 Tononnh Del . . 4 l I'i
113 Tonopih Mln ... 7 fi' H'
100 Utnh Copper 77i Ti'k
100 Union Trac .... 42 4tii 41'i
.".or, tf o 1 sni sn'i s.iH
O.r.0 IT s Steel 82K fitti fO
.".A Warwick 1 & S. 1S 0V, 10'i
10 W Jer A 8 S. . . Wi, nt MPi
7 WcMmrlnd CI .. . 11714 n"li
2 York Hy pfd ... 35 3I'4 3l'-i
30
0S14
101H
10S14
42
r.OM
35
Itj
ilIU
.w,t
70
2.M4
ll'.i
711
75''!
3014
41)
r.7S
n.in
in,
mi
2J
18
I7H
711
ir,
42
sn
44
Ot
77-H
4114
R!H 4
MS
!0U
r.i
07'
3tH
nllh
LOCAL MONEY MARKET EASIER; T
FEW MARGIN CALLS BEING ISSU
Bankers Closely Scrutinize Collateral Cambria'S
tions Likely to Be Hixereisecl Britain May.
sorrow on, jlnou oen, securities uero
Total snlrs, 21,021 sbnrrs, rnmpnrcd
iu,4vj snnrcs innt .inniiny,
BONDS.
Last. prcv.
Sslc. HIrIi. IxiW. Close.
400 Am O A E Bs.. D.11 02V, 02'i H21i
1000 Con Trac N .1 .Is.lOHi 101V, 10114 10H4
.".no city Is 1041 ....lirj.ft
1300 do rcc
MK City 11114
I)0 Key Tel let Bs.. lis
hOOO Lake Hup inc 4s 27
1000 I, N'nv gen I14s.l02t4
VX)0 1, Vav cons 4hi.1D2ti
12IVK) Pcnna Ron 4i4a.l02
2BOO Phlla Eloe Bs...l05
I100O rtoadlnir Ken 4s 0511
1030 do Term ,a.. 11014
3000 tTn Uwys t c 4s 73
300 Un llwv Inv Rs 7.m
IfKW York ny 1st 3s PS14
Total snlcs, $10,200, rompnrcd "llli (37,00
Inst Alondny,
M2H 102Z W
102 102H 102
IMSi I02S 102
PS OS OS
20K, 2(11, 20W
102V4 10214 I0214
102H 102S 102S
lot'; ion; inn;,
103 101 lor.
tttli II3'4 l"i
lion lioi, non
7.T4 7514 75",
73 73 7.1
ll.'.n 03 115
Local Bid and Asked
Buff & Sub t c
do prof
.T a Jlrlll
Ilnldwln
do nrcf
Cumbria Steel
Elec Htorsffo . ,
Gr-nornt Asphnlt ....
do pref
...H. ...2 acm acm
Keystone Tclcphono
do t c
do pref
Lake Superior Corp
I.chlith Navigation ..
Lchlsh V'nllov
LohlKli Valley Tr . . .
do pref
Pennsylvania
Phlla Kleo
Phll.i Co
do 5 per cent pref. .
do 0 per cent pref. .
Thlla H T
do t 0
Reading
Tonopah nolmont....
Tonopah Minim: ....
l'nlon Traction
I'nlted Ohs Improv. .
U S Steel
York Hallway
do pref
Vm Cramn t c
Ex dividend.
Todnv Saturday
Bid. Asked. Bad. Asked.
12 421-i 41 41i,a
. 111114 m ntu i'.2
. :i2 .- .T-tJ 37
.Hisi.4 Kin 107", K"--
.10s inn 10s losti
71U 7li4 7.114 7:w,
. iki nt, r.2 m
, :n 34 :i:i .11
70 -a 70 7(V(i
ih ash hs uemfwawawa
13i 14!4 14 141,
, 13"i 14'j 14 14
lis 7ll (i-S 70
11 nu ins in
75t4 7rt 7714 "7'i.
, 75 73lj 711 7I!U
111 nu, lliti 11)1.4
ait M'i :m-ii 40
i'JS "' ra. "
27 271 27Ti 2S
41 42 Ti(-5 42
3 3M HI! 3S
43U 41 44 llli
17 17; IS IS'!
17 17t, IS 1RU
73i 711 7?li 77U
4U 4 4IJ 45
IWi ', 7
41?i 42 42 43
Ml NHA NI14 MV.
nn Snti S2 8214
Sli Vj S'i KJ
34 35 31 33
. 75 SO 78 SO
An carder tone was reported In tho local
money market today. It was Icnrned thnt
loans running for nix months had been
made ns low ns three tier cent, nnd that
call funds also had been obtained nt this
riRtire, nlthouRh tho so-called "ofllclal" rnto
remains nt 3J per cent. Ilrokers, how
over, sny thnt tho bankers 'arc scrtltlnlz
Inc; collnteral closely and denmlidliiK heavy
ninrRlns on the stocks which linvo been
subjected to Itirintloti. As IiIrIi ns BO
per cent. Is bolus required In some In
stances, but this In one wny hns had n
beneficial effect. One Important uptown
house todny stated that owIiir to tho large
margins required they hnd not found It
necessary to Issuo a single call for ad
ditional collateral In tho recent decline In
security values. Jnmes J. Hill's prediction
thnt money rntcs should remain easy
even after the war hns raised rons'dernlilo
a,rRument pro and con In Imnkliift circles.
The declaration of tho extra dividend
on Cambria Steel nnd the restoration of
the United Plates Steel dividend, together
with vnlious other increased or Initial
dividend payments, hns stnrled nil sorts
of predictions of nddltiotml disbursements
by other compnnlcs. Tho recent rapid
recovery In railroad earnings has roused
tho hopes of some speculators thnt this
section of the list may nlso bo benefited,
but tho action of tho ronnsylvnnln. man
agement In merely maintaining the nor
mnl rnto rather put n damper on theso
theories. The ronds nro faring Inhor
trouhles In tho spring nnd tho constant
Irritation over freight rates with the Clov
ernment should tend lo render the man
agements very conservative nt this time.
According to Now York dispatches. It
will bo somo tlmo before tho (lotnlls ot
i no i.nmonn - lOUiiffslown - La-v.211
Bterl deal will ho worked out If iiSjwi
Is consummated, it la ehn..j 5"M
nnd banking clrrlfa t,at Klh" "Wk
Co. will undorwiMo tiie phi frffl
of this bonking llrm t-ecenllv' i.lS
ferred with the hrexet IntuM.ii .
tlAff IriH refill tlm .. - la 11
v.v viw,, llllll III. I HPf,
Alt tiniicrli Hnlllfnrr nnH i-.
: v. "v " '" ",,w Riven a,.ii
Knnunir tuo ('fitniiHn iorl sltuYtl
the Hcploslo opt n9 would he e!il'
It wns nlso nvenod thnt tlir. t"Jk,2:
Steel shareholders bad been orr
shores of the proposed llw 0 f
10 of ttielrn. the new merger hirV. S5'
par W. (Jnml.rla St eel. ouoted SM
ilelid. ruled nliniit stendv for a ilmWiw
sllpiied back later. Stn'rnge DatllijJf
Itendlng wcro off a point each aMTui
general tone wno henvy "Dg
Pressure developed around JwQ
ngalnst the various trnetion lsu.. ri
Transit and fnion Tmelion tu m l(
while American Hallways lost a Mis3'
tho Lehlnli Vnlley Transit grotu?S
ns miioh. Kloctrin Storage Datf.,
tended Its decline to two point, lii
States Steel was the won I t'e,t fL JSfe
the nrbllrnge group, nnd the griniP!
tho (lovcrnmenfs motion to i&fe
case ngalnst the Koblgli Valli. aM?!
thill Ifoiip to slip nlT Klmrply y jjJSi
Heports from London that 6reatlffiSI
hnd no Intention nf rnna the 7a. S
securities being shipped to this SS
but thnt they wove sent here for KH
pose of borrowing on thetn, nUraeiJSiH
great deal of attention In tie ffiff
district. Should this prove 0 "SitS
0110 of the chief factors for dent S
over 1 .nslns. the mnrl,.! ..,, TMfiSt
, r -v- uuia
moved.
PHILADELPHIA MARKETS
m
GRAIN AND FLOUK
WHEAT. Jtccelnts, 1S.1.7HS bush. Export do
tnnml was fair, but TorelKn, limits were Een
enilly below 11 workable basis and prices
further declined 2c. under lower outside ad
vices, isolations: Car lots. In export ele
vator. No. 2 red, spot and. February. SI..I.1W
1.37: No. 2 Southern red. Sl.3-1Wl.35i sleiinier
No. 2 red. SI.32ilJlli n'o. :i rod,1S,.,l2ii1.:ij!
rejected A. 41.2IIMtl..1l': rejected I!, 1.2Mt
'criltN. Hecelpts, 222 huli. Trade was
rpiict but prlcc3 wcro steadily maintained. Quo
tations: Car lots for local trade. a to location
Western No. S yellow, SlfiWe.: Western
steamer yellow, faftftKl'fcc.; Western h"; '
yellow, S05IS2C ; Southern yellow. SOJJS-'c. ;
cob. per 70 Ins., SmfHlc.
OATS. Receipts, 00(10 bush, nfferlnits wero
light nnd tho m.irket ruled steady, with a
moderate demnnd. Quotations: No. 2 white,
5!KIGOj. ; standard white, fiSfl.V(i,c.s No. .1
white, BO05UKC. ; No. 1 while, IKSBfltlc. : sample
oats. 51i.53c. ; purlfleld oats, graded, 50I?."7'tc.
KLOt.'It. necclnts, IH bbls. and 1.131.
205 lbs. In sacks. Trade was slow and
business wna chlelly In second-hand stocks,
'Which were nvallaule at relatively cheap
prices. Quotations, per 100 Ilm. In wood -Winter,
cienr. S5.H5flii; do.. Ptrnbrbt, fi!iiii.25:
do., patent. SC35T0.75: Knnniis. ci-r. Juto
sacks, t.l.SOfln: do., straight, 1utc snvvs, $(!'.
11.25; do., patent. Jute sacks. $il.2.ifi(l.i.,;
spring. Ilrst clear. SS.7.vnn; do.. stroiKht. iMe
n.25: do., patent. S0.25W7: do., favorite brands,
S7.25eT.50; cltv mills, choice nnd fancy patent,
S7.251T7.50: cltv mills, regular grades winter,
clear. J5.fir.BH: do., stralsht. SUfi0.25: do.,
patent. a35T(1.75
nyE PLOlTlt. Tho market ruled firm under
llKht offerings, hut trade wns o.ulct. Wo quoto
SD.SOJiO per bbl., as to quality.
PROVISIONS
Therp was a fair Jobbing dnnmnrl nnd values
wero stcadllv mnlntalnrd. Quotations ranKCd
ns follows: Cltv Hoof, In sotn, smoked ami air-
Inrien. .4ra-'C. ; wesicrn uecr. in feeiH, ismoKt'u,
'2ltil7c,; city bepf, knurklos-and trndors,
smnkoil nml nlr-rlrlid. 2(WiU7t: AWatrrn beef.
I knuckles nnd tenders, ttmoked, lHWJ'v.i beef
Financial Briefs
There hns been placed on tho regular
list of the Philadelphia Stock Exchange
$375,300 additional American Telephone
& Telegraph stock and 410 additional
American Milling stock. There has been
stricken off tho regular list $449,000 Head
ing Company nnd Philadelphia & Heading
Coal and Iron Company general mortgage
4 per cent., bonds, canceled n account
of sinking fund.
The Lindsay Light Company's sales of
mantles In January wcro 822,000, against
616,000 In tho same month lost year, a
gain of 33 per cent.
Maurice J. Dannenberg will become a
general partner In the firm of Arthur Lip
per & Co. on Tuesday, February 1.
Tho New York banks lost to Sub
treasury Saturday $665,000, and lost since
last Friday, $1,503,000.
Tho following local stocks were quoted
ex dividend today, except for cash:
American Railways preferred, Lehigh Val
loy Transit preferred, Cambria Steel, Le
high Navigation and Commercial Trust.
The St. Lawrence Pulp and Lumber
Corporation announces that the first m'ort
gngo gold bonds of the company from
N03. 1 to 19, Inclusive, having been re
tired by tho operation of the sinking fund
at 103 and nccrued interest, bonds Nos.
20 to 160, Inclusive, will be paid on Feb
ruary 1 on presentation at the Qlrard
Trust Company at par and accrued in.
bams. I2W30: pork,
m. j'. euren, loose,
loose, ISftlOVjC : on.
other ham smoked
nnd nverase. iiii..ffri
ern cureo. iuv.rii
fnmllv. S"2..VIL'3: hams.
MWIl.-ic: do., skinned,
do., smoked. I7I5I1ISC ,
cltv cured, na to brand
c,; hams, smoked. Wcst-
c. : no. holleil. noneicss,
ntcnlo shoulders. S. V. cured. loose.
inv.c: do., smoked, imftl2c.; bellies In
Klcklo. according to average, loose. 12T1I214.C ;
reakfast bacon, as to brand nnd avernpe. cltv
curel, I.WIilc: breakfast bacon. Western
cured, l.WHIc.i lard. Western, refined, In
tierces. lHic; do., do., do., tubs, ll'ic: do.,
nuro city, kettle rendered. In tierces. 11Uc :
do., pure city, kcttlo rendered. In tubs. lli,c.
REFINED SUGARS
The market was quiet, but firm. Rentiers'
list prices: Hxtra tlno granulated. 5..c.i
standard uranulated. fi.KOc. : powdered. 5.!)5c.:
confectioners" A, 5.75c; soft grades. OOo.OOc.
DAIRY PRODUCTS
DUTTnn. Demand wns fair and prices
ruled steadv with moderato offerlnKs of desir
able grades. Quotations: Wcuern. trcsh.
solid-packed, creamery, fancy specials. :ii-.c. ;
extra. 3214c.: extra ilrsts. 31if732c. : llrsts. 2!iW
30c.: seconds. 20W2Sc. : ladles, 2122e. : neaiby
prints, fancy. .Inc. ; averaqo extra. .H1i:i5c. :
Hrsts. 30B32C. ; seconds, alfisSc.: special fancy
brands of prints Jobbing at 3li42c.
EGOS. Tile market was a shade firmer with
demand absorbing nil nfferliiKS of desirable
stock. Quotations follow: In free cases, near
by extra, 34c. per doz.; nearby llists. $!i per
stnndard caso; nearby current receipts. $.R5
per case: Western extra flrsts. $11 per case:
do.. Ilrsts. SS.S5 per case; fancy, selected
candled egss were Jobbing at 35ti3,c. per
C'HIJBSE. Tho market ruled firm under light
offerings and a fair demand. . Following aro
tho quotations; Now York, full cream, tancy,
held, lSMifllS'ic; specials" hiEher; do., fair
to good, held, KliSilSUo.; do., part skims,
"oW POULTRY
LIVE. The market was quiet, but steady
under moderate offerings. Quotations: Fowls,
as to size and quality, 10ffl7c; roosters, 12
1214c; spring chickens, eoft-meatod, liSilsc;
do., staegy, 15Blc; turkeys, 20fl22c.; ducks.
as to elzo and quality. 1511. c; geese, 15TTlic;
pigeons, old, per pair, 23'n2Sc; do., young, per
pair lNMic.
imESSED. The market ruled steady, with
-1 J I.....LI- !,- llnilio:! nffnsllina nt ila-
tcrcst in accordance with the provision slrablo stock, squabs wcro higher. Following
of tho mortgage. . aro the quotations: Fresb-kllled. dry-pacUei
.owls. 12 to box, dry-picked, fancy, selected,
. . , ,. , . , aiUc. : do., weighing 4 His. and over apiece.
At a meeting of the Board of Directors ! jof.; do., welgblnc 8V4 lbs. apiece. 19c: do.
of the Franklin National Bank this morn- I do., weighing 3 Ins. apiece, ljw.; .jo., 'mailer
"- - - - - -! ; runcy. it, h.ii uc ni'icvc, -., mnuiiri
but retained his position as vice president.
J. W. llardt, who, for a number of years
was assistant cashier, was appointed cash
ier to succeed Mr. Passmore.
The annual meeting of stockholders of
the Pennsylvania Railroad Company will
be held Tuesday, March 14, and the an
nual election on March 28. Tho company
has sent out notices to stockholders, ask
ing proxies for the election In the names
of Samuel Ilea, Effingham B. Morris, T.
De Witt Cuyler and Lewis Nellson.
A special meeting of the stockholders
of the United States Gypsum Company
will ba held on March 7, to ratify an In
crease In the preferred stock from $4,600,
000 to $6,000,000. The new shares will
be offered to holders of both preferred
and common of record March 7 at par.
Each holder will have the privilege of
subscribing to 15.85 per cent of the new
Issue.
Announcement Is made by Frank Mau-
ran and Spencer K. Mulford, Jr., that
they have formed a co-partnership under
the name of Mauran, Mulford & Co.. with
oftices nt 318 Franklin Bank Building, for
the transaction of a general brokerage
and Investment business. The firm's New
York business will be transacted through
A. A. Housman & Co., with whom It has
a private wire. James Hancock Is a silent
partner, with restricted liabilities, and Ar
thur W. How Is associated with tha firm.
Another letter has been sent to the pre
ferred stockholders of the American Hide
and Leather Company by the Stockhold
ers' Committee composed of Joseph C.
Harris, Anderson Price, Frederic Drew
Bond and John F- Dixon with Hans P.
Fresce as secretary, asking tha co-operation
of the preferred holders In an effort
to secure dividends on the stock and also
representation on the board of directors.
old roosters, drv-iilcked. 15c.
Old roosters. dry-ulcKeii, 114c.
sizes. 1518c.
sizes. 1B81HC.
CMCKens.
nearby 1
ers. well
tltart. 111
4 lbs. and over, in boxes. 21(I22l.; do., do.,
weighing 2UY314 lbs.. In boxes. ISftlDc. ; do.,
weighing 23 ,bs. In bbls,. 17(fi18c. ; other
Westom. weighing 4 lbs. and over. In boxes,
JSHlOc; other Western, weighing 2W3W lbs.
In boxes. 10017c: other Wejtcrn, weighing
2I.4S3V4 lbs., In bbls.. lSSlOc. 1 Inferior, .He.
Capons, weighing 8H10 lbs. uplece. 27020.:
do., smaller sizes, 231720c. Turkeys, nearby,
fancy, 272fic, ; do., do., good to choice, 24
(I26c.i do.. Western fancy, 2UJ727C; do., do.,
good to choice, 23323c; do., fair, 20 n 22c;
do., old toms, 23c,: do., culls and No.' 2,
103200 Spring ducks. nearb. lK'a20c: do..
Western, ncy,lT18c.i do., do. fair to
good. iSSJl&c. Geese, nearby. ltlSlBc.: do.,
Western. 14gl6c. Hquabs. per doz. White,
weighing 11 to IS lbs. per doz., S3.85lin.ai;
white, weighing U to 10 lbs, per doz., J3.2MI
B.73; while, weighing 8 lbs. per doz., SL.tOls
4.75: do., do., 7 lbs. per doz.. $J.M)4; do., do.,
0'ijoii lbs. per doz.. 2.WK(f3; dark, $2.25f3.
sma I and No. 2, $101.50.
FRESH FRUITS
Demand was only moderate, but values gen
erally ruled steady. Quotations: Apples, per
bbl.-Jonathan. fancy, J3.2593.50; do., fair to
ood, S2.b03ii: winesap, ..,',.). ..,; iiuwin.
2.&ofl3.25: mack Twig. X2.WI3; Orlmes'
Colden. S2.60K3; Greening. fi.HKiia: York 1111-
PUBLIC UTILITIES
Cities Service subsidiaries for 1915 show
In the aggregate a very substantial In
crease over 1911 figures, till thin the
greatest In the history of'the company.
For the 12 months ending November 30,
1915, there was an Increase of 15.65 per
cent, over 1914-
DIVIDENDS DECLARED
Vandal!. Railroad, 2 per cent., payable
February 15 to stock of record February 0.
Boston Elevated Ralliray Company, retrulax
quarterly 1U per cent., payable February 15 to
stock of record February 4.
St. Mary 1 mineral Land Company, SI, pay
ables February S3 to stack of record rsbru
ry 4.
nnnA S''MM
$2.5083.23; Ulack Twig. S2.WI3;
perlal. 'S23; Twenty-ounce. $293: Pippin. S2
3; Hen Bavis, S1.75B2.B0; other varieties, $1 50
vIm.DUi Jto. . ,.u'U,.uv, vmnroi 11, ,,um, vki
ion iha.. AOciffSl.DO: aDDles. Western, per box.
il,25C2.25; oranges. Florida, per crate..$1.7.Vui
; tangerines. Florida, per strap, $2fi3rgiape.
fruit. Florida, per crate, S1.75H3.M, lemons,
JU,; pilieawpie", per v,aitr , u, ,u
kCCi.SO; Florida, fius.an cranLerries.
nr box.
lllco, S1.50CJ
Cape Cod. per bbl., $!Xffll; do., Capo Cod, per
crate, S2.DOIT3; uo.. jeisey. per craie, a.-ion
S.75; strawberries, Florida, per qt.. 25335c.
VEGETADLES
The general market waa quiet and without
Important change. Quotations: White potatoes;
rer busb., $101.20; white potatoes. Jersey, per
tiifcet-jo. 1 Hose. 003700.; No. 1 other
vsTletles. 0OS70C.; No. 8. 3O8-40C.; sweet iola
toes, Jsrsey, per basket No. 1, 40U50c. ; No. 2,
15fi25c; sweet potatoes, Virginia, per bbl.,
(1.6001.75! onions, per 100-lb. bag No. 1,
JiS'-'.iO; No. 2, 76c.fifl.25; cabbage, Danish,
per ton, Wl,i ccery. inw ,orK, per Duncu,
iMi-t
kale.
:MV,5c; spinach. Norfolk, per bbl., 75c.$tl:
;ife, Norfolk, per bbl.. fiOSfSc; lettuce. Flor-
ANN UAL MEETINGS
THE UELAWAHE DIVISION CANAL
COM PAN V OF PENNSYLVANIA
i-nuaueipnia. January lb, loll).
The annual meeting of the stockholder of
the Delaware Division Canal Company of
Pennsylvania, and an election for Managers
to serve for the ensuing year, will be held at
the ofllce of the company. No. 437 Chestnut
st., Philadelphia, Pa., on Tuesday, February
1, 1918, at 12 o'clock m.
' II. F. BAKER. Secretary.
DIHEOTOBY OF ACCOUNTANTS
Certified Public AccoantaaU
LAWRENCE E. tJKOWN c CO.
1(18 REAL ESTATE TUUST BUILDING.
DUBNa 4 8PKAKMAN
Tb Bourse.
Ida, per basket. lfll.r,0: ,., Nor,h L jml
tr-.'S'W' " l'r"n. Florida'. "?," S
JL.ilKi'J.S,-,; pens. Flnr rin. per lmsel tMn&i
peppers. Flnrl.1,. per Hurler iTMli?SN
Idnnt. K nrldn, per cr.i'e fBvii iSiHfw
Florida, per currier. lf I iniiih! roiJS'i1!
4-lb. basket, 511i1.si). ' """Toonn.,.
STOCK MARKETJH
LONDON
Shares on Which Minimums Renew?
Dropped
M
A fotr restrlTi!7
LONDON, .Inn.
:!L - .
business on tho Stock Mxchnnso todiyl
nnd tho markets generally were dullm,!
war news wns not hclpiul. The stwki
on which the minimum quotations hav?
Just boon renewed showed declines oflil
to 1.1 points, creatine; competitors for cm?
sols nnd tho war loans, which droppedjg
Americans wcro Ihmw. Snle3 touS
treasury wore lnrser, llotwltllstanainIlti,
Inwni Imvliitr nrlrra r,nnn.ll..H. . .'.
. -..w...a , ,..ia wcrs 1M
r'-miiui .
M
l'onillns further dividends the 'hoB?
railway group wns dull. ArRcntlne' rsltf
wcro good in spots. Following Parlsth?
foiclgn suction continued quiet. 'Mlnti
nnd oils were neglected. "SHI
METAL MARKET
NEW YOrtK. Jan. 3l.-Ind Wcaiir, ,'itToS
bid. Tin firm, 41sic hid. ."ptlter steadr: WlS
m
Western, spot. inc.. F, liri.au. 1SUc. to IS
Tnr-l, 1Q,. ,.. 17.1... U ii
St. Lawrence Pulp and!
Lumber Corporation 'i
Philadelphia, Jan. 31, 1916.J
The First Mortgace Gojd '
Bonds Nos. 1 to 19, inclusive,. -
of this Company having been
retired by operation of sinking
fund at 103 and accrue
""interest, bonds 20 to ISO, in?
elusive, will be paid February
1, 1916, upon presentation ar
the office of the Girard Trusti
Co., Philadelphia, Pennsyl
vania, at par and accrued
interest, in accordance with
provision of mortgage.
7 v. a niiRirn.
President
ii
We Wish to Buy J
Allentown Gas 5s. 1924
Chester County Gas Ss, 1925 M
bounties u. ii. as, iso
Dauphin County Ga3 5s, 1925J
vjaa t.a, oi ivtuiu. wu. js,
Hnrrisliurc Gas 5s. 1928
Merion & Radnor G. & E. 5si;
1954
Nashville Gas & H. 5s. 1937
Steelton Home Gas 5s, 1925 J
Rethlehem Consol. uas L0."
3'is, 1924
Reed A. Morgan & CriJ
WKST FN II Tltl'ST III ILDING
l'liiiiiii.i.i -ii.
Stock F.xeliinn
1
MemborM of tho 1'hllo.
I ReiulitiR Company 1
I Jersey Central I
Collateral i Bonds I
Due April, 1951 I
Trice on Appllcntl00 I
POWDER STOCK
All powder stocks acilvaly !
" in. Our market Is a .l."-, I
Becurltles boueht and carried cm.
conservano uu..
Downs & Langhor
2S Reaver St.. New Torn,
AVnrlrl Ts Facincr a
Deficit in Sill
EL FAVOR
Send for our review showing v
biUties of this great mine.
Makeever Brother
748 Drexel lilag.i
Phila., Pa,