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14
EVENING LBtoaBB-PIIILABBLPHlA, SATTIftDAY, FEBRUARY 5 1910.
FINANCIAL NEWSl
FREE DISCUSSION OP GERMAN ANSWER
BY PRESS PREVENTED HEAVY SELLING
,The Fact That Values Were Well Maintained Was of
J , Pronounced Satisfaction Market Responded
Quickly to Buying Orders
NI3W YOItlC, Vcb. G.
Tho povcr of tlio jircss ins shown in tlio milliner in which the market
Acted following jkCtfterdny's nervousness over tlio German diplomatic situation,
there was no doubt Hint tlio statemenlrt mado In tlio leading imperii this
mdrnlng In result! to the Oprmnn answer, discussing every point o the situation
rtml giving a favorable analysis to the terms of the German document na under
stood in leading diplomatic circle-), prevented n heavy selling wave and made
thoso plunging traders, who hud put out lurgo llneH of shorts yesterday, more
nervous than tlio bulls wero when the reports In regard to the answer vvero
Urst circulated.
Although there were no sustained movements In the shape of advances
ofr declines In tiny group of stocks, the fact that values vvero well maintained
In Itsolf was of pronounced satisfaction to the Interests committed to the long
account, and with the general restriction of supply the market was left In an
oversold condition. This mado It quick to respond to moderate buying orders
in a number of Issues and somo sharp upturns were recorded In tho two hours
of trading.
The market tone wns shaped by general expressions that over Sunday
""nuthorlzcd statements are looked for which will go far to restoring confidence.
At tho same tlmo there was a growing belief that nervousness over possible
results from the falluro of the German diplomats to agreo to the American
demands was without good foundation, and the point was made that In the
case of Japan, one of the great Powers nt war, Industries were conducted on
a large scale and general commercial prosperity prevailed.
There vvero bullish tips In circulation In many Issues, with Distillers
v Securities at times In brisk demand, moving up early In tho day to COVfe, cnual
to tho high point reached In October lust. United States Steel was sold In largo
blocks, several houses having BO.OOO-shaie selling orders, while the buying was
scattered, but largo enough In the aggregate to ahMirb these large offerings
without showing a substantial loss.
Marine preferred was most affected by fears of International friction, but
that stock was nlso disturbed by reports of differences between the preferred
stockholders' committee and representatives of tho common stock, which might
make the adjustment of caplttill7.ttlnn a matter of prolonged litigation.
Record Earnings By Distillers Securities
Record earnings were agulh established by tho Distilleries Securities Cor
poration In January, It Is said, the total surpassing by a substantial amount
that for December, tho previous high lecord. The demand for alcohol from
Europo continues extraordinarily large and In view of this tho company will
uso every distillery available. White tho actual figures for January are not
available It Is believed In well-informed quarters that tho earnings last month
wore at tho r.ito of better than 20 per cent, on tho stock. Besides getting the
benefits of a much larger demand, the price of the product Is between 75 and
100 per cent, above normal, and these two conditions must be reflected In the
company's showing.
Another Allied War .Luan Expected This Summer
It Is expected ty Wall street that there will bo another allied war loan
this summer, first steps have been taken. The absorption of tho Anglo
French $"00,000,000 o.m has been altogether satisfactory, more so than a
mcro recital of fiactlonal price changes would indicate It Is believed tho
new allied loan, when it comes, will take the form of a collateral issue. This
would appeal .o thousands of Investors who hesitated over tho first loan, and
would have tho btrondary benefit of checking the steady dribble of American
bonds and stocks tieni the other side
LONDON MARKET
IS UNEASY OVER
EXCHANGE DROP
Leading Financiers Attrib
ute American Decline to
the Political Conditions
GERMANY'S MONEY LOW
Bank Returna Arc Satisfactory
and Stock Situation Is in
Fairly Good Shape
.. , ,
I NEW YnitK HANK STATEMENT
i
Big Increase, in Loans Reserves
Slightly Lower
NEW TOHK, Feb. 6 An Increase of
over twontj-four millions In actual
loans was reported In the weekly state
ment of the Clearing House institutions
today, Actual deposits wcie $14,032,000,
whllo the nctunl reset vog fell $7,95,870
The averngo icserves only showed a loss
of t2.M7.720.
Total average loans were $.1,205,111,000,
with deposits of J3..1S 1,681,000, and time de
posits of $157.11,000 The aggregate re
sorvo was $756,035,000 Details follow:
Clearing Hmisc mcmliers, average
Inerenso
t.onn 1(lS11.tmi
Irpolt f... in, -.7(1 wo
Tlmo ilcposltn 1,711,000
Rosen es 2,80T,7a
Clrarlns lloupo members, nctunl .
txvms Bt.rojono
Hrpo?lt i4,aifino
Time ilcponlls 1, Ml oho
Reserves 7, I1OS70
lccrcaFr
PRICES SAGGED
ON N. Y. CURB
Early Show of Firmness Fol
lowed by General Recessions.
Marine Under Pressure
NEW YORK, Tcb. 5. After a generally
rtoady opening, with trading compara
tively quiet, tho market for outsldo so
rurltles beforo tho first hour developed
ienowed heaviness on selling by traders
In a humbor of the higher priced spcclal
lles. Mldvalo Steel, after an Improvement,
rased off V International Mercantile
Marino shares showed pronounced weak
ness, especially the preferred, which de
rllncd 3 points Cuba Cane Sugar, after
Mi advance, also slipped back, as did
Submarine Boat.
Kennccott and Ccrro de Tasco declined
It fraction, while the bonds went off n
point. Motor stocks were Irregular, but
Inactive. White Motors ruled steady, as
did Tobacco Products, on small purthases
AJax Hubber was weak, whllo oil stocks
Were Irregular Ohio eased off 3 points.
Honda were generally steady, with a fair
Inquiry for, B. & O 5s and Erie 4s.
INDUSTRIALS.
1I1U, ASKPU
New York Bond Sales
iiv?
Arner-nrltish Mfu 21
All flulf &. W I S 3 2S
do pref 44
Am Marconi . S
AJax Rubber Ino w I ,'
Canadian Car & Fily
Can Cnr & IMy pfd
Chevrolet Motor Car IM
Chandler Moloia '1 ,
Cuban Cano Sucar .. . . -Vj
iMrtlja Aeroplatio II
prices heahury 1-W
Haskell & Barker Cat isi
llendea Mfc j
Inter Mer Mftrino lVa
inter Mer Marine pfd .3
jnt Nickel , 5,1
.Kelly bDrinitfleM y.
Knthfttllnn llrnnza Did
Leo Tiro , 4U
Mnnh.irfnn 'Prirmlt ...
Maxim Munition 7
Mldvalo Steel , 70
lulu Klevator 3
Utto Klaenlohr w 1 .55..
do pr
Pw.rli. Mntnr . ..
i'oole Engine & Machine 110
Ft. josepn wau .'
t B Kresije w I . . . i 1
Submarine Boat v t c ct(5 MYi
ftandArd Matora '.
JYUnula Him v t ctfs .14
I nlte.1 ProHt Sharing 1J
If a Uelit S. Heat 3Vi
do pref ... ... ., 4
White Motors w I St
IVorJd t'llm - IV
STANDARD Oil SUBSIDIARIES.
nternatlonal Petroleum 12
illnol l I. 1HI
thlo Oil 220
k u or uanrornia
B O of New Jersey pot
i O at New York 210
.IV
HI
415
lt
11.1
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ii.
4ICj
:
XT
v
r.m
74
u
?5
;y,
...loo'l ui,
. .. J'i'j 27
OTiinn on. stock?.
loaden Oil
ihalmers Oil
iloutton Oil .,....,...'
Iklueac itetinine
aoulvu ,
10V,
w
M
10
MININCI 8TOCKB.
MlfUiH. ; .. ,: S
tune jl' 6 i n ' ,
iulta & N Y . ?U
Klrl National Copper T
lerro ao t-asco
LaldHeld Merger JJ
loU main !
lows bound , p
W
S1H
io
Im Ilutler
umbo, pxteiuion ...
:nti4eott CoDDer ...
jIsKJnUyTDJrrai'h ,,
mica oi Ainerti . . .
llpUalnr Mines Co ,
an T?y . '
i r.at ina lmi ......
,?ejt End Extenson ..i ,. 2
BONDS.
t Jt O IU- , ,...lp"-
lerru d 11KO ... .IJJf
jrli 4 , i ...... .. SS,
f Y BUte U ..lOJ'l
Uil
Vi
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.171
214
20
S3
10'h
21
sa
40g
JO
'S
OS
6i;
4
i$2Vi
$150,000,000 Oil Co. Incorporated
DOVER, PeL Feb B Articles of In-
corporation have been filed hre by the
t'an-American Petroleum and Steamboat
L'ojppany. with a capital of J 150.000,000.
now company, according to New
orU auvic. win inciuud auiuiwiiou oc
rSP.
t-aniMilllnn lntarest In ths Mexican I'etro
Iuiu Company. Ltd , of Plaware, of the
. trttroleum Trannport Company, which
pvma all of the Bhtpa used by the llexl
an Petroleum Company. X.td , of the
I'wloitc Company, a commercial organiza
tion used for the sale of oil In South
America, the Buena Fe Petroleum Com-
isny. a company recently organized by
Ir. O'Donnell in California, on some be
acted oil lands, which aUo hau 40 000
Hci-us of! land in Texas upon which it la
CfUlins
Export Gasoline Up Again
Tt-'IftW VWI1K. Feb 6 'file Standard.
ftji Ciawaiuf of J)fw York tW raerninr
J53nLK wi bJb"
iMMii
'.'Ono Amer Aur 'i
40MHK) AiiRln I' 1. .-, .
lOwi Amcr Hldo . I, i
liioi) Amer Smelt See da
-'UOO Amer Tel it 4i
mkhi AtLhlson cm 4k'
soon Atlm Co Line 1st 4i
7ii(KiO Halt i Ohio lUs
4COO Halt . Ohio 4 " .
fiOOD IMIt & Ohio r 4K
-,2(KH) llujli Term Ul lu ,s
11)00 Cent Oa runs "i
4IXO Cent l.enther 1st .'ih
iroo cent u It n J r.s
TOOO I'hlii Conner 7n
"1100 Ches .I Ohio cv 4'ia
vkio Chi K Vlton H
1IK4I Chi ,L Alton IV. s
liiOO Chi Rt West 4
1"Kl Chi & n iwa
10iKo Chi u & q jint 4s
j ni i.iii ii i kj pi n 4a
n ii
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!ista im
in, ais.
.m uui jnuustri 11 1H . . jl ,4' 74V,
1IKH) rol ,t South lBt 4H. IIP, Dili !1s
won Del II conv .'. f p. 1071! ln7'i ln7'i
7VXio u Secur Corp 5s . 7IU IM 7-Jii
1IKI0 I rle Ben 4s .. 7l!'l 7Hi 7I.W
Slinn Krle prior 4s wiu si,', MIU
1IKWI (Sen Kler dpi, ".-. milt 1iml inuf
IDS ins
11 11
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I7S 17S
By FRANCIS W. HIRST
IJdltor The Economist, London
Special Cable to tho Kiendio Lettper
LONDON, Feb 6 -Somo symptoms of
uneasiness nrc shown In American ct-
ch.inuc, possibly owlnir to political un
certainties.
The problem presented by Trench
checlis needs a cold export remedy.
Italy Is mirrcrliiR fiom exorbitant
frclKhts nnd the lira Is wcnlt.
Speculation In the paper ruble con
tinues The city Is depressed, but finds con
solation In the innm leports which leak
through neutral countiles of wi etched
tlnanrial nnd commercial conditions In
German.
Our bank return Is sallsfaeloiy nnd
the stock inaikct Is fulrly Rood.
Tho shlppliiK Interests nte much Btlrred
nbout the shortase of lotmnRc. This cle
ment of the freight question accounts for
tlio extravagant prices.. Tho Economist's
Index number for Jiinuno marks a 1 co
ord Tho previous highest was In ISGi,
Just beforo the end of our Civil War,
nftcr a similar but less vast destruction
fo food, raw matcilnls nnd pioperty Tho
1'conoinlst's number was Hist calculated
bj New march, the famous hlstoilnn, for
prices In 18.10 The llBUre now Is SSIO,
OBalnst nil nveinire of 2200 between tlio
cars 1001 and ITOi After freights the la
bor se.ircit In the Industries and nt ports
Is tho chief cause uf tho rise of prices,
which Is Rcnci.il, with grains leading tho
w n .
1 bear several amendments to nn ad
dress dealing with the Government's
llnnncl.il and expeditionary policy nrc be
ing prepared, nlso that Lord Heading's
Imlicns corpus decision is being appealed
against.
New York Stock Sales
SNUFFJUSINESS
MADE FORTUNES
IN PHILADELPHIA
Use 'of tho Product Con
stantly Increasing, Con
trary to General Opinion
TRUST, SPLIT UP
Local Financiers Eventually
Sold Out to New York
Interests
CAMBRIA STEEJL MARKET FEATURE'
DEAL SAID TO HAVE BftSN CLoll
Local Tractions Unaffected by Appointment of TwiS
in Place of Taylor jnomoik ana Western's
Fine December Earnings
Adams lprc-i
Ahska Colli Mines
Aliska J (lolil M
Allls-Chilmors Mfg
Aills-Clnlmers pf
Am licet huear .
Vet
11 lull ln- Ijint rliinso
..H7)f 147'f ll"' --"
22H
Wi
71) '71)
Ci ftt
22),
' 1
L'7!-i
Am Can (12H 0IM
Financial Briefs
Ocoige A iluhn A. Sons and r.inlsh d
Co. bid up Cambria Steel Carstnlrs S.
Brown and Henry & West nlso bought.
John V Sparks has gone to Florida
for a two months' visit.
The New York Subtrcasury
$1,-10,000 fiom banks on Trldaj.
gained
41X10 ciranbj Cona tin
ii-ii iiuci k .M.in in is
1AI III Meet Och 4i s .
1K) Ion a -Central ref 4s
lfloi Ina Copper (a
1000 lnterb Met 4V-8
UOO In.erb It T ref -
U.'CM) Inter Jler Mar ct 4ka
&n Intornl IHPcr ts
1OO0 Knn CIH .So Ihi .1h
vi Klnea Co uiev on tin? nil
LliMM Ijicka ateel ra tiro 011
Mn- .. ,511 ,ico J"l3
Up A. M T Ss . .
1'OflO Lorlllant res .
MKO Iiuls A. Nash 4s
aHK VMnn A St I. 4s .
10m Minn fat I S S M 4s
WO M K At T 1st 4s .
.',1100 Moris & Essex ,l'-s
jXO Mo l"nc cv "is
IO10 Mont I'otter 'ui
.')ii Not Kn.im &. .tp r,a
Jlk O N Y c A. II PjH .
IIKO ilo 41. s
2..IKKI ilo l,s"
Iiihio N Y City 4s I'fi)
..nun ilo 41, h 111D1
1(00 ilo 4i.'s unci
l(HH do 4IH 1IK,1.
ai(M) ,v y ity ret 4s
UK)CO do ail as . .
1WI0 N" y Tel sen 4 Ms
MX 1 .Sor I'qc nrJor 4s
1000 Ore Itwy A. N con 4s Oil
I tt
im?.
lonij
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OK,
. lTi
102 vi
101
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moo renna 4s 1018 . ... wJ
"IWJ UU VII tVH , IU1,
om do 4V-s liui ioi4
KOil Public .erx .N" J Hi 001
I1C11O Itock IUnrt 4s.... ST
TIOOii dn rfd 4a . .. . ran.
.1000 do Ss . 47',
IOiKV do Us . . in
10IIO Rwj htel bprlnea Vi ir.ii
::roi houtli lien js . lnni;
11" '4
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Bradstrcct's Hovlew says: "January, a
month In which trade .18 well as Industry
usuallj dlHplava a lull, tinned out to bo
a in.rlod of remarkable activity, thus de
noting a departure from precedent "
The Canadian Car and Toundry Com
pany's Itusslnn wai orders, totaling S82,
650,000 gross, hnve been turned over to the
agf ncy of the Canadian Car and Foundry
Company, a New York corporation, or
ganized to handle the work. The financing
of tho manufacture of the orders will
ho taken caro of by tho Imperial Russian
Supply Commission
The New York Cuib Jtnrket Associa
tloo thli morning gno out the following:
All parties having open contracts in the
new- $22,000 000 State of .Vow Yoik 60-ycar
4 per cent gold bonds are In Itcd by
Herrlek & Bennett to attend a meeting to
bo held nt their olilce on February 8 at
4 p. m 1 ,
The United Itallwajs nnd Klcctrlc Com
pany, of Baltimore, has authorized tho Is
sue of ?2, 730,000 live-year G per cent, notes,
subject to the approval of the Marjland
Public Service Commission. Tho notes
will be offered nt 03 and Interest The
proceeds of the Issue will be used to re
tire $300,000 Baltimore, Catonhvlllo and
nillcott's Mills llrst mortgage o per cent,
bonds, due July 1, 191C, and $1,000 000 two
year 5 per cent. United Railways and
Electric notes, duo June J, 1916, for Im
provements and extensions to tho prop
erty. The Guaranty Trust Company, of New
York, on Tebruary 7, will begin to ex
change the $500,000,000 Anglo French 0
year B per cent external loan temporary
certificates now outstanding for tho defi
nite engraved lionds The engraved bonds
will bo issued in denominations of $100,
$."00 and $1000 for coupon bonds and
$1000, $10,000 and $20,000 for registered
bonds. The definitive registered and cou
pon bonds are Interchangeable.
Commercial failures In the United
States this week were 4C0, against 412
last week and SOU a year ago.
4s sat; vi rci
!5l wttj, jaw KOUi
n 4s 71. TIJ TPI
11 .is. ,.itMU 111215 in.'ii
ia-,cj invJ 10-.
IJ . KIT. RIT KIT.
. 'a
IIM
i'
HI
7RV4
10
mii;
lorj
70'
111.!',
104t'
17oa South i-nc c
IViOII ilo pv ret f n
!MO South Iluv ire
1 UOO South Ilwy con
t'Omi TexHS Co 0s
L-ooo "Ihlnt Ao mil ,'
lunil 'lol I'en ,t VV 4s
SOOO Tokto (Is
1 1x10 11 H Realty Ss
IfKK) r s Hubber (,s
luinn IT u u , i -
t...v. .. . Ull Uf d, ... iim iui, 1IH',
1IHO Vn. Cur Chm la IM li iiyi11
11000 Va Iim .'. .. nsu usu hhu
1000 Va 11 4. I'ow 6 in.; lilt? ni'f
loao Wabash 2d Ss . fi'ii; imvi Wi'i
ytWXI West Union 4'ia . IHPi no'i IMP J
1000 V Iscon Cent 1) dlv 4s IHI U0 00
Total ialeii, SJ.18 1,000. ennumred with
$;.J1 1,000 last 8uliinloy; (tils neck. i 1,097,.
I)00( lant week, 22.a23.
NEW YORK COFFEE MARKET
Ni:V YOniv, Feb 5 The coflee mar.
ket was less active at tho opening this
morning, bu the undertone was steady
and first prices were unchanged to 2
points higher.
The market developed a firmer tone
after the opening and some of the active
positions worked up t -or 5 points on scat
tered buvlng for trade account and Influ
enced by .continued evidence of the
strength In the freight position. Cost
and freight offers were firm, but very lr
regular, and It was said that some ship
pers were endeavoring to make arrange
ments for sales of coffee to be shipped
by sailing vessels,
Today's Today's Yest
opening;. close, clcuw.
,.- T.4(VS7 43
1 ., . 7IS26T 14
T'sWiT.GO T6MJ7 00 "tftTM
-:;;., i WSJ ill
l unc f.iv t ra'n-7 in
February .
March ...
April ..,
May ,.,,,
June . ...
Juft .....
August .,
$ptainbr
October
November
ueceaauM
TOO
T IJ14.T Til
T.TTS7 70 7 71777
Total wl, I2..VO0 naK,
7KVgTSI TfsST.80
7 7767 7-1
7 81fi7$3
LIVE STOCK QUOTATIONS
CIUCAqO Pb. .J..-1I003 -Rcelpta. ts.ooo.
&!&. !rV0 blxber mixed ajtd butchers
CATTI-JgrWUfteM. 300. .market ateady.)
so iwu tr iir. iuri sauci uiiivri xi i
8 40 Texaiu. JU.406S30. calte. la Mail.
HiiKtsr - i(aipt, 10OO, nurkct steady.
n.tK and IVesrtero. M.788 M Urnki. wo
GOVERNMENT BONDS
3 ot laoo niUttred
mu
WtWl
Bid
IV
xii. oi litmi coui
Paua, 2j tffUfarm .. , as
13S2 "E !3ieM' M.
EY&EFlX.7Fisrim fxsS .
2e uifi J3BE ..... . , . yi y L
ssK Wm sHC49 niEpjsMBii IfVli 9Jk m.mkjy
LONDON STOCK MARKET
Supply of Money Plentiful, With
Rates Easy
LONDON. Feb fi There wns little
feature to securities on the Stock Hx
change today Business was quiet, but
the markets generally were steady. No
change was shown In the gilt-edged sec
tion, which was slow Bates for money
were easy, the supply being plentiful.
The latest bumper dividends made
home railways hard The distributions
practically will bo concluded next week
Americans receded, following the market
at New York. Steady offerings to the
Treasury continues,
Canadian shares reacted and South
American railway issues displayed weak
ness In spots.
Foreigners were listless, but firm The
feeling at Paris was cheerful, notwith
standing the unsteadiness of French ex
change during the week. This was caubed
by an announcement that It would be
the policy of the Bank of France, not to
make further exports of gold.
Busslans were firm The tone of mines
and rubbers was good.
London N Y
cioe,
A trhlNAn
llalllinore Sc Ohio
Can Pacific,
Chpa & Ohio
Chicago, Oreat Western
rhlrairo If i SI 1'.
Uenver it It U Ui
trio '
da 1st pref . SjJ
Illinois Central ., 10S
I-oulllle . Nashville . . ...I'-trjJ
Mo K & T V (')
New York Central,., nl
r.ori
New
V
Usadl
I'nlnrl IUcIAQ ...... 1 JO
LnlteJ State tit eel S9tt
ptrcae. lncres.
nul.
1-"H t,
170 l"
12Vl .
1UH
.11-
107?i
0 I2(I
tTS!
lilt".
IS ill
1
ew rorK lenirai... nu-v iu.il. - ii
.orrolk i VVMtern . . ...ISlVi 11W -1(1
.ew York Ont 4. Western .. ST i'livj -
ennsylanla JS nu a
uth PacWe 10i! ftiS -it
J. -
-'V - i
NEW YORK BUTTER AND EGGS
NEW YOIlK.fcb 3.-BUTTB -Market
Hll
da:
packageil. lillll ?ts,
iili. nutrhv whits.
SoJc., nwrby Crowns,
nrsts, aitf-c
187
Mte.. refrigerator
lhfe.1 Arafu
jr-. nuxed co or.
DIVIDENDS DECLARED
Colorado Qold Dredglny (
share, payable February -I to
ord fsetuary 17
Compioy ti a
uvtucrf ot reo-
BAR SILVER
doo bar silver xaa Quoted at J7V
ft.as. ,. -
Sr r cifuil, ua-
Am Can pf
Am Cat X. I'dy
Am Car K 1'ily pf ...
Am Coil Produrts .
Am Coil Pnuludi pf
Am Hldo & I. pf ..
Am Iro Serinllln
Am t.liisocd
Am I.nroinnlh c
Am Smelt .v. lief . .
Am Smelt &, Hi f pf .
Am .Smelt pf A
Am Smelt pf II
Am Suel rmimlrles .
Am Sncar Itif Co pf
Am Tel A. Tel
Am Tolncoo
Am Tobano pf new .
Am Inc I, ( Sm
Am Uoolcn Ir rets .
!ncon(h Cop M
trli 'lop isr. .
Haiti Loco Works
llild Loco U ks pr
IHltlmore . Ohio .
Hitopllas Mininc ..
Hetlilcliem Stool . ..
Mush Terminal
Hums Ilros
Ilulle A. Superior . ..
Cal Petroleum
Cal Petroleum pf ...
Caindlin P trifle . . .
Ccntnl I cither
Chosvpoiko & Ohio
Chile C upper .
Clilno Copper
Chlcaeo til West
Chlcico Clt Wist pf
Chi Mil .V St P .
Chi .Mil A St P pf
Chi It I fi. IMc
"Cluelt Pei S. Co .
Col I'm I & Iron
Continent d Cm
Corn Products Hef
Crucible Slid . .
Crucible Stt 1 1 pf
Ciibin-Ani Sucar
Diltuaru S Hudson
DMIII Sec Corpu
Domo Minos . . .
Ktlo
Krla 1st pr
led Mln A. Sm pf ...
Gen Chemical pf .
General l.lectrlc
Cfcncral Motors pf
Hoodrloli II r . . .
(Iranby Consol . .
(It Northern pf . ,
tit Nor ifs for oro pr
Illinois Cent .
Int llarv N J
Int Con Cor v t c sh
Insp Con Cop . .
Int Paper . . . .
Int M M cfs of dp ,
Int M M pf c of dp
Int Nick pf v t cfs.. .
Kan City Southern ,
Lack Steel Co
Lako fcrlo K West . .
Lchlsh Valley
Maxuell Motors .
Ma Motors 1st pf ,
Mav Motors 2d pf.
Moslem Pot
Mlama Copper
Mlssoutl Pacific trefs
Montani Ponor pf
Nat Knam A S Co
Nat Knam A S Co pf
Nat Lead Co
Nov Con Copper
New York Air Drake
N Y N II & II
N Y C A II Ii
Norfolk A Western
N Y O A. West
Northern Pacific
Ontario Slher Minim;
Pacific Mall
Pcnna Itallroad
Peoples Oas Chi
Phlla Co
Flits Coal Co N J
Pitts Coal Co N J pf
Pressed S Car Co .
Ity Con Copper . .
Ity Steel Sp
HeadliiL'
Hepublic I &. S
Itock Island . . ..
Hock Island pf . .
St Louis SoithHCSt ..
Seaboard Air Lino pf.
Sears Hoe A Co .
Sloss-Sheff S S, I . .
Southern Pacific . . .
Southern It .
Studebaker Co
Studebaker Co pf
Tenn Copper .
Texas Co
Texas Pacific
Third Avenue
United Clear Stores .
Union Taclflc . . .
Union Pacirie pr
U S Ind Alcohol
a s c i p & f pr .
United Fruit Co . .
U S Ilubber
U S Rub 1st pf
U 8 Steel Corp
U S Steel Corp pf .
Utah, Copper
Utah Securities . . .
Va Caro Ohem ....
Wabash, .
WabaslTpf A
Wabash pf Ii
West Union Tel .
West E & M
West E & SI 1st pf .
Western Slaryland. .
Wheel 4, L E
WoolftOitn, V W
'22H - tj
IIM
2S i
71)
ns - 'i
('i -
.novi mm i ir)''i
. II7H ntiij r7'i H
U7i 117J4 117)a
ioi lai uu Hi
llfi'f llfiU lli'f - 'f
nvt ni oif -l'f
284 2SJi US' 4 .
2.IU LM LMU .
COlj (i,Vj fid t- '
loo'f us1! mii
in in in - u
. ojJs n'i n.s 's
son sotj hau - "
Wi MM fil - H
lVi 117,'i I17'S - 'i
127 V2(Vi 1J7 h '
M1IH 2014 20l'i H
It)7"f in7'i 107V M
. mxi, cui i.s'4 a
. Ill 4!) -19 .
S.Vf Ut KV H
.101 10 "i lOJ'i' 'f
lHf 100 I12't f-2H
,ios ins ins i
SSlf SS SX'. H H
2Jg 25j 25
471 -170 -170 -35
.ibVi' linv uch
. M M, M, 15.
78 77 7H
:ii ao'f :i3 iu
flj
170
51
nj
o ir
121,
."K'i
)7'f
ao'f
(ll'f
l(l)
fiJ'C
-.p.
2J'i
12'i
,1,-l'J
1)7
14
'St
nj
170 1-1
r.'H - h
(U it
2J'. - ii
fil'i - '
12( - ','
.T,' i
7'i 'j
.1.12Ji IU'j ISJ'3
. I4 IS'J 10's - 's
7.1 7.1 7.1 -1
IBj Ct',' 1 11 j
. 7SU 7SU 78', - '
. 22,i 21 'i 21,' - U
S.'M S.,sii 81 -1',
1104 1104 1104
1014 1014 lt)')'j 54
1.10' ir,04 1504 -24
504 ls, W -lit
2S4 274 284' H
. :i7. :i7tii H74 j
614 5-'4 534 f- 4
5-4 5J4 524' 4
110 lib 110
.171 1704 171
.III 111 lit i(
714 704' 71)5 - H
. 0J4 U4 015.
.1214 1204 1214 ?
114 H4 114 -f- 4
.1004 100 100 4
1104 1104
IS 4 1SX
1-1.4 AWt
11 11
. 17 KiJb
110
20JJ
8J4
14
77
714
88
514'
110
2(14
S04
II
704
004
88
1103J - 4
1S4
114 4
11 4
104' 4
7.14 -14
110 4
204 - 4
814 4
n a
77 H
nn v.
88 4
5-14' 14
1004 1024 1004 .14
30'
.14
in
254
Dfi
(04
154
141
074
JJ'i
54
112
25
00
COM
15
304' 4
54
111
2.14' 4
00
G04 4
to j
1124 111 -1
67 07H ii
1014 1014 101
1104 110 1104 - H
204 204' 204 - J,
1134 1124 11.14 4
74 74 74-4
1.1 144 2
114
.10
10-.4
12
324
107
554
214
38) i
77) j
53
4'
10
.174'
514'
1053i 1014' 4'
4-' 4.' -J,
324 324' - ii
WVA 1004 - ).'
iw S'ljj )i
'Mi, )J
384 - H
774 ii
03 1),
4 ...
ii .
19
374' .
1784 -1)
5S)X if
ni3j
!04 - 4
234'
384
704
524
H
10
374'
10-1 IIM
. 5U SSJf
00i 094
. 21 204
!50)j 1474 1104 I.
.112 112 112 -1
504 554 60 Jj
2054 204 2054 3f
. 74 74 74 - H
00t,' COJi COJf - a
W OH 94 .
131 1324 1334 1
83 8i 83 fi
1544 1514 1524 - X
48)5 48)5 484 - 4'
139 13S4 13S4 - ),'
514 51 51)5
1004 1004 1004 -I
&14 824 bin Jj
1154 110
78 784 !J
1UI
474
By WALTER 'ii. BABCOCK
Member of tlio (Inn of liutchor. Bhcrrcrd
JL HnnsclL
In view of tlio fact Hint snuff liai been
the foundation of mi nmn Philadelphia
fortunes. It Is surprlslnB Hint people here
know ho llttlo nbout It Many cannot
understand tlio Increase In the output ot
snuff, believing that Its use passed out of
fashion with the Inst Bctierntloii. As a
matter of fact, however, sales from 1001
to 1110 more than doubled anil while It Is
not used III the old fashioned way, throURh
tho nostrils, It Is ihcncd in Increasing
quantities by thousands, especially below
the Mason and DKon line
The Oarrctt, Mooic, llelltlrlckson, Ilalpb,
Wilson 11 ml Woodslde fortune were all
pilnclpally made out of sunn" Tho Oarrctt
biiiiIT brand, well Ittiown for moro tbnn
inn years, was shipped from I'lillaiieipiua
When the American Hnulf Company was
formed in D00 some of "'o ncn long
In the business could not withstand the
temptation to sell the stock which they
had received when the to-called trust
was formed One of tho early scllcr.i pot
$100,00(1 for 1000 shares of preferred
stock, together with 1000 shares of com
mon, which same amount of stock ten
years later hold for $100,000, paying
handsome dividends In the meantime. The
early bird did not get tho worm that
time
When the combination was formed the
Pliil.tdclpliliins got 7B per cent preferred
stock and 25 per cent common stock for
their shares of tho business whllo tho
New Yorkers got .1 reverso proportion and
at one of the first meetings of the board of
directors, the president said to tho Phlla
ilelphln contingent: "You fellows have all
the cream of this proposition and wc have
the skimmed milk Wo will have to work
like thunder to make our skimmed milk
r.tlo cieam" How well they yieceeded
Is shown by tho fact that tho "common
stock advanced from $10 per share to
$150. whllo the prefened advanced only
to fllO, being limited to G per cent divi
dends. In IDll tho Court oidercd tho division of
the business of tho American Snuff Com
pany Into not less than three parts, and
tbcrefoie tho Wemiii-7)ruton Company
and tlio George W. Ifeltno Company were
formed to tnke over npprolm ttcly two
thirds of the American Snuff Company's
buiiness, ns thut company was considered
to have vlitually a monopoly. Tho orig
inal Garrett business was cbtabllshcd by
Levi Gairett about a century and a quar
ter ago
To show the value of a popular snulf
brand, n stoiy Is told of an old colored
woman, unable to read, who, 'going Into
a store In the South asked for a package
of Garrett's snuff. The clcik passed out a
package just as good, which was really a
new brand gotten out oy a concern of tho
same name. The old woman looked nt It
and bald: "That ain't Garrett snulf."
"Yea it is," said the clerk. "Well," said
the old womin, "thero is the Garrett, sure
enough, but where am de Levi?" tbo
founder, Levi Garrett's picture appearing
on all the old labels
The laigest fortunes and safoet Invest
ments nio often found outside the list of
market favorites.
On sales aggregating moro ,lhnn 21,000
shares, Cambria Steel was rushed up
to within less than two points of the high
est prlco It ever touched on tlio local ex
change today. Opening nt 'i4 compared
with "tA Inst night's close, tho prlco
rnpldly mounted to 78 before a sufllclcnt
supply of stock appeared to check Hie
ntlvance. It closed nt TJij. On the floor
of the exchange the rumor spread that
tho big merger deal had been finally
closed; that all difficulties over bond ad
justments, etc., bnd been overcome, and
Hint offlclal announcement about on tho
lines recently reported would bo mndo
ncTt week.
Strength In Cambria nnd United States
Steel was the chief feature of tlio trad
ing on tho locnl exchange during tho two
hours It remained open for business to
day. No actual news wns forthcom
ing regarding the Cambria deal, but good
reports from the general trado helped
to stimulate buying. To be sure, tho steel
market has become distinctly quiet, with
respect to new orders, but this was to bo
expected, as the mills are sold up s far
ahead Following diverging minors of
tho last few weeks tho dcllnlto statement
Is now mado that Chicago district mills
are covering their regular customers In
bars, plates and shapes for tho remnlndor
of tho year, to tho ctent that the mills
will have the steel to spare. Pittsburgh
mills do not ndmlt making nny contracts
hcj ond third quarter. Current pig Iron
production Is nbout .19,000,000 tons per an
num, slightly above that based on rated
capacity of the furnaces In blast, but
possibly a shade below that In actual
performance In this unccrtnln weather.
Rvcn If there should be no fresh buying
tho Iron and steel producers in tbo Pitts
burgh section will nnlh . .
to work off the orders alre?Mf4
While the outlook Is rtJM
there aro no signs of decreased r
Hon. Tho demand for steel 1 . B
latlng In many quarters. m .vM?
arc refraining from placing oralrV?5
uccause nicy cannot sccuro detl.l
a seasonable time. ""WfltJ
The steel markot "la viri.n 4rl
With laigo producers carrying ffU
on their books thn) win 1 Rm
capacity until long pnst Hie miilrtt. 3j
year, tiic smaller mills which ufj
do not make forward commltm".
well sold up, arid premium mC31
quick shipments are being rcceituiiJI
Is particularly so In plates nnd" h&1
former commanding J2E0 to ii ifta
while the latter Is ur. M2-. "M
Somo disappointment wns ewndM
brokers' offices over tho aoiii. 2?1
locnl traction stocks, followlmr nvvt1
of tho nppolntmcnt of W s. TwimB
!
'"
Sales in Philadelphia
Net
Hlch Lo. Close, disc.
M Am tlaa . 15J l-'J 122
1 Am It.illns . .11 II .11 1
Co Cam Iron 114 4I'4 4U4
2.-.1M Cam Steel .... "S 7.1VI 774 .1
01 Ins Co N Am.. 2(1 2(1 211 ,t
IV. Iikc Sup Corp. D',4 04 0V4 '
70 lhlBli Nav . 70 70 7(1 4
L'l IrfhlBh Val .... 77 77 77
100 Leh Val Tr.... 10H 10V, 104
10 Plillv. Co U IJ 12 4
10 1 Penna It tl . . . wi fi! .V) 4
,170 Phil 1 nice .... 27-H 27 2711
2Vi I'hll n Ttr itfi 1!) 1SV, 1R U
10 Phlla Traction. 704 71)', 7t", H
SO rtcifUiiB . . 774 77'i 77V4
-10 Tonopah Minlns G7!J ('74 074 'i,
.171 Union Traction 414 424 4J4 14
.T2 United Cas Imp 90J, S3T; m
am V a Steel . . S.14 S2W S2t, ..
Tntnl Kales, .12,170 Nhnres. rmnpared with
7112 linrr last Nitiirdin j thin week, 140,010
share! Inst week, 97,817 Klmren,
no
78)5
20
474
154
444'
2SJJ
88
00)5
70)5
284
24
123
15
1415
284
88
054
704
27
24
12J
194 - 4
47H - H
15 . .
444 .
2S,4 . .
88 -
CO Jj
704 Jj
27 -14
2H - 4
123
Total sales, 803,700 shures. tomjiared with
30.1.300 shares lfu,t Nuturlui UI week,
I.OUS.IOO shares) last week, 3,381.000 shares.
PUBLIC UTILITIES
The Brooklyn Itapld Transit Company gross
In Junusry mads a splendid gain over a year
ago ot 1S4.7U. or 7 7 per cent., by rar the
best month this traction property bas bad In
several years. This follow, a gaf0 ot 1113.000,
or CD Pr tent., In December,
The laclede Oas Light annual report shows
a decrease ot isi&,.,?,Jf r0". earnings. Net
earnings Increase SUB.MW. .The surjifus after
preferrwl dividends vtas JiJSll.'lj, an Incrtaie ot
mi.lt-S over 1U.
NOTES OF THE RAIL
The Interstate Commerce Commission
today resuspended until August IS the
proposed withdrawal of express rates on
mills and cream between all paints on
the Chicago, Indianapolis and Louisville
Railway
J
Long Island Can Issue Bonds
ALBANY, N Y Feb 5 The X'ubllo
Service Commission of the second district,
today authorized an Issue of 115,000,000
4 ner sent 10 year debenture bonds by
lllAwK Island Railroad Company (a
tgili&UFwe lha I'muwlvanu. rood tut Ua.
pSgfeienta alnca 186,
COTTON TRADING LIGHT,
WITH SMALL FLUCTUATIONS
Poor Response to Higher Cables From
Abroad New Orleans a Buyer
NI1W YORIC, Teb 5. Another poor rc
sponso to hctter cables was mado on the
Cotton Uxchange this morning, and nt
tho start prices were unchanged to 6
points lower. Business was on a small
scale, with spot bouse buying of March
and selling of May about tho only fea
ture The early tone was barely steady.
It was generally believed around the
ring that old buying orders for May at
12 cents held the market in check, as tho
demand nt that level was large After
tho call that option touched 12 cents, but
Immediately tho bujlng became large
enough to force nn advanco ot three
points, with other positions moving up In
sympathy. New Orleans houses and trade
Interests bought somo cotton after the
call.
During the later session the market de
veloped no fresh features, prices fluctuat
ing Irregularly on a small and mostly
local business, which appeared to be gov
erned largely by the action of the stock
market Sentiment was unsettled and the
general disposition was to conflne opera
tions to thp minimum, pending deHnlto
developments 4n the Lusltanla matter.
Prices In Liverpool were unchanged to
I point higher, or about 4V4 to 5 points
better than due Private cables stated
that offerings were limited, Tempera
tures were higher In the cotton belt this
morning Thero was no rainfall on the
map.
Cotton receipts at the ports for the day
wero estimated at 25,000 bales, compared
Avllh 17.194 bales last week, 62,394 bales
last year and S,524 bales In 1914.
Yt.
Close Open, High, Low Close.
March 11M 11.8.1 11.8.1 11 Ml 1181
m..w 1H7 l.o tt ln i.f. ,
Muly l.MS UU l.'il lEt.! ills
Kl I -I IZ.IU J..J U JJ-JO
Doc 1J.3J l.'tll U'a.1 1J.30 l.'Jl
bpot l.'OO l.'OO 1J.O0
Liverpool Cotton
LIVERPOOL Feb. 5. Spot cotton to
day was dull, ut 3 points higher on the
basis of 7 92d. for middling uplands Tho
sales aggregated 3000 bales, including
2000 bales American. The imports wero
11,000 bales, all American. The market
for futures closed quiet, but steady, and
net unchanged to an advance of J point.
CLEARING UP 43.2 PER CENT.
1JONDS
Net
I Uch t-ntv. Close. cIikc
$2000 City ts 1DU rs.t02iH 102 102ft
.1000 Klcc A. 1' Tr 4s St'4 8Ui S1V4 14
1000 I.eh Vnl gen 4s. 02, t)2 lei M
1000 Pa Co ecu 4143.1021, lOJV, 102)4
1000 do cons 4VJ'i. 10(1 10l 100
2000 V W & I t c 4s !'', POU IPJ'i W
COOO Phlla Co ins Is 111'. Ill ni)4 U
1000 Span-Am I (,s In.' 10-' 101
2000 Stand O & K Os D0'5 t)0'j 00" li
-Hlncrcasc. Decrease.
Tntnl soles, 3 1,000. rompnrrd with $11,
70O last Niturdii) this nnk, JJ0.I.O7O; lat
week, 5188,170,
Director of tho DoDnrlmeni ; nV.l
It. Both Rapid Transit and ui JJfl
Hon cased off slightly on smil I S H
s generally re t, however, that u.
(pni wit mrn va tool .. n I
Mr Taylor's successor United Ou
provemenv wns in modernln rt...T1
morning, and American Railway! tv
A favorable Item of the day's i,,,J
I in NnrfnlU nn,l w.t . ",H
port, showing jin Incroaso of tut
III net. The proportion of exptli.
operation wns cut from iissj K.lf1
In December, 1014, to 6 6i per cenLS
sl months operating rcvcnu k.t.f
gain of no less than tJ,6M,207. wiik,.
i
Local Bid and Asked
Ilu ff A. Sua t c ...
do pref
Ilrill J O
llnldnln
fambrli Steel . ....
Plectrlc btorago ....
Uencrsl Asphalt ....
do pref
Keistuno Tel ,
do t c
dn pfil
Iake Sup Corp .....
Ixhlgh Mav
LehlKh Vat
LchlKli Val Tr
dt pfd
PennslanU
lMill.i Klcctrlc
I'hll.i Co
do .1 per cent. pref.
do (1 per cent pref.
Phlla It T
do t c : .,
Heading
'ion Uelmont .
Ton Mln . .,,
Union Traction
11 B I ....
tr S Steel . ..
York Itwy ,.
do pref
VVm Cramp t
Today Yesterday
nid. ABkcd. nid. Asked
lWi
I -M
Ii
14
nv.
711;
7.4
UIV4
.B
-ill
27'S
41 "i
.1(1
4H)
i-
Ul
:is
up;
77
i:i
-n
ilv.)
MVi
70
in.
77''
l'i
r,ip
271J
4JVj
IS
41
111
in
77
41
1,0
l-.1l
74 'J
(.2
:i
7.V4
11
OS
.'I'i
7l!
711
l'l
W.
,111
27
.11.
Ill,
IRS
.... r K'i
0 lA-IOJln-lO
4
S.IV
3.'
73
4214
ST
4J
111
17
111
7
r
in?
14'4
70
H4
7IP4
7liW
l'i
.IT-V.
K.V,
.is
41
II)
in
11 it
h 4
c-vf, on-iii
4 1 4114
r'i ihi
'ft
11
73
S2
MJ
.11
to
WHEAT IRREGULARll
IN CHICAGO MARKl
il
Trading Not Active Ocal
j Freight Kates Strong, '
Toniiage Scarce
il
CHICAGO, Feb. B -Covering helA
Wheat market steady nt thn iwm iJ
and pi Ices vvero up cent, nt tiiwJ
May and unchanged for July atlul
. w iiiiujiu, uutuuiu nruKuiar later
closing with a loss of l's cents anaj
,0 ....... ,.. . -
Trado was no active. Export ufcl
tho last 24 hours amounted to abmii J
000 bushels. Tho market at lJi.j
was llrm nnd all arrivals are aWS
quickly. AVhllo shipments from M
jimcnca tor 1110 ween were liberal
...bu nuiui viyn la ucnillicu IU pOlQUtj
side of the United Kingdom.
Tho demand from tho Continent el
iinucs unchecked. Ocean freight KM
contlnuo strong, with tonnage uxi
some nuinontics expect Increased &
Iiigs from the country, It being tufa
tnat farmers will sell moro trufii
order to obtain funds to meet their 17'fl
ooiigniions. n
Tho receipts nt Minneapolis andb-J
today were 310 cars, agalnit 264 cvikfl
year, at Winnipeg, 7B cars, confl
wiui iii cirs; ni utncago,
ngnlnst 1062 cars.
Offerings Increased after tho ittitl
number of commission houses aZ-M
causing tho market to case modentifl
it wonted upward again, howevtr, 1
buying orders
Corn was easier early under rennl
selling and predictions of larcer rtl
The nrrlvals hero today were 2!1 afl
lruuo was-limited. The market atUrf
pool was dull. The weather In Arrtnli
wns more ravorable, being showery
prnnrnllu itnanttlArt '
, ,.......
Oats wero qilet and a llttlo firmer, tf
receipts hero today were 172 cars.
Trading futures ranged as follow!:
Leading futures ranged ns follom:
Whcat
Mav ...
July
Open. Hlch
..1.14IJ 1.145,
12VJ. 120
Corn (now delleryj
T.OH.
1 121
1.24H
Cloe,,
Mnv
July .
Oats
May ..,,
July ...
tJtrd
May ...
July ...
Itlbs
May ...
July ...
Pork
May ...
Julv ...
Bid.
Wi
'OH
WIT,
47i
10 20
10.17
.11.07
.11.80
20 47
.. .20 50
tAnlted.
71
70H
'.11
I7,
10 20
10 37
11.07
11.20
SO V)
20 80
TV,
41V.
i. uiose.ittSH
V, 1.12 lt
iiii'1
i!?a
ir.
"",!
10 02 1005 iirl
10 20 "10 30 MSI
9 1
10 ai 'looi ntl
11.10 11 jo ml
20 27 20.27
20 32 20.32 pt'B
4(rS
I
Total for Week in United States Was
14.099,117,097
Bank clearing!, t intlnue to expand. AH
cities this week bnowed an increase over
the sane week: last year. The grand
total for the week was l,633,117,O07, an
Increase of 43.2 per cent, over the same
week last year, Details follow:
iota. ioi.v
$2.V)8.Kla00.1 11.57.' -(17. 1"9
liM,a,ieu ll,lNrij,;iu
20.1.U17.14
3U.4IM.il t
30.l!.1,780
7j,707,(Bt
),lW,2(il
ll.l.UU.'Ml
.t2.10S.02J
238.171 HI ,
7O.077,KW .
20,410,230
New York
Uoilon ... ,
Philadelphia.
lUltlmorv .
Chlcuso ....
St. Louis....
New Orleans
Seven cities,
3 days ..
nthr eltlea.
5 days ..... T03.207.6t3
I'd till ftll cities
S das ...ii.0I9.107.U3 12,788,057.878 U 3
Al da": .. 6SO,000,6st 493.108.753 37 3
Total all clt(e
lor week.. ll.caO.H7.007 W.2S2.123.G30 43.2
t3,310.SO0.4O3 12.223,859,130 43,7
M1.0S9.742 2B.J
Erie Bond Issue Approved
AliBANV, N Y, Feb. 6 -The Public
Srvie Commission today approved an
Ueu of M.3TS.Q09, 414 par cnL 10-year
qulpnioJ trut bila by the Brio nail
road Company
FOREIGN EXCHANGE
NI3W YOniC, Teb. 5 -The forclsn cx
chango market was extremely dull Oth
erwise, very little featuro wns apparent.
Guilders were a shade higher, at 42.
Sterling ruled steady at 4 75?i for demand
nnd 4.76 7-16 for cnbles. Tho hr'slc move
ment In rrench exchange, which char
acterized yesterday's market, was absent
today and rates worked a little lower,
rtelchsmnrks Improved a slight fraction,
whllo llro and Swiss were slightly lower.
Quotations follow: Franc cables, BSD;
checks, 5 00; relchsmarks, 74 and 74 7-16,
llio cables, 6 73; checks, C.74; Swiss cables,
5 22; checks, 5.221,, Vienna, 12 00 nnd 12.65;
Stockholm, 27.65 and 27.70; pesetas, 19 02
and 19 05; guilders, 41 15-16 and 42- rubles,
29 70 and 29 75. Long sterling was quoted
nominally at 4 71T4 for 60 days bills and
1 69 for 00-day bills.
Nothing dcevloped In reference to the
reported Impending arrangements to
make specific gold exports from this city
to Holland for the benefit of the Dutch
and domestic tobacco Interests.
A recent cable from the United States
Consul at Amsterdam said that first Am
sterdam tobacco sale had been postponed
until March 17. The gold pool already or
ranged between the Bank ot the Nether-
lanas anu, me .national .uank of Com
merce ot this city covers only the pro
tection of Dutch holders of American se
curities who would sustain serious losses
In interest If compelled to have recourse
In settlements to the foreign exchange
market.
MINING STOCK QUOTATION
TO.VOPAH STOCKS.
DI1.
Jim Butler ttl
MacNamara .02
Midway 11
Mlzpah Extension 19
Montana 21
Northern Star Ii
Tonop-ih Uelmont 4S
Tonop.ih Intension 4V
Tonopah Mining 6
Ilescuo Hula in
West End ... . .'.71
aOLDFini.D STOCKS.
AtHnta ..... 21
lllue. Dull L. I...". .,02
llorth .41
am
jiuuunir .. ..... ....... ..... .. ,vi
C O I 01
Combination Fraction 07
Il imondficld II 11 M
ln!sy Ot
Plorence , 49
(loldHeld Consolidated t
(ioldfleld Mercer. , . . ,18
Jumbo Intension t.-'j
Kewanas Is
Oro OS
and Ken OS
liver Pick ., ., . ,04
MISCELLANEOUS.
Fairv Aztec , ...01
Klmberly 03
RATES. FOR MONEY
New York Ifi2
Philadelphia ..,,,,,.,,,.;." 3 &4
Iloston .. . ., ,. .,,.,, , 1
Commercial paper, three to six months. Phil
adelohla. 3fe4 per cent,
3 ti4
4 44
4 Mii
BANK CLEARINGS
Bank clearing today compared with corre
sponding day last two years.
19tU 11)13 loll
Philadelphia, P0.1Sa,2l8 2I.MW,T0O 125.tta 1023
Uoaton .,.,, 32.209,349 23.319.183 sSjioiOffl
RAILROAD EARNINGS
WESTUnN MARYLAND.
December ktosj ..
Net ,
six months gross
Net .. .
11113.
Kl 771
3,40.1,137
1.738,839
Increase.
fUl.uoS
1U1.S01
1.20.1,141
794,103
DENVER AND RIQidRANDR
pecember gross 2.000,477 M77.S02
Net S01.4ta .10048S
Total income km va 330013
Surplus 3JUH03 20151?
Six months' gross 13.51 2021 l.it3;iial
Net , 4 OU2.7J4 1 tirSi
TiUl Income '. MloM rin'sra
Surplus X.DJ7.191 lizcS.OBO
ST. LOUIS SOUTHWESTERN,
Fourth week January .1370.000 177.000
From July 1 . . 7.391,749 3.'s
NORFOLK AND WESTERN
December gross It.Tia.tU I1.68S 45S
N. .-. 12 004.224 1 ttJO.Jll
pis. raouins sross aej.tlK.na ti.flsl 50T
. 13.187,Ta 4.S1J.IHT
METAL, MARKET
&.tin&js&.
Net
fj
Suggestions
Hovw to Invejl
for both large and 5SS
investors will be t
those who write forj
Circular No. L-N3.
A.B.Leach&(
Investment Securitwfl
115 South Fourth St
Tl,IU,lrlnbla
New Tork Chicago ,
Boston London. Eng. w"1
Charles J. Bender &Coi
INVF.STMP.NT BONDS 1
Members Philadelphia Stock; Ef3ji
421 CHESTNUT STKtfcJ
DlRECTOnV OFCCOUNTANttj
Cctlfte4 PubUu AccoanUaU
LAWRENCE E. BROWN ,gSn
i,L..r 1. UPITM THUHT lUilS
HIS REAL tATATB THJ08X S&
UUUN3 t BPEAK1IAW
TtM Hours.
ANNUAL MEBTINOS.
& mvrws;. ,
AUO ll)lllll - . TtfAMl
tors of the MethodUt Eplsropat !
the city of Pblldelshl wJt b Mj
srr H, 1918. t S o'cCcSc In te
ai is fieewtai.
C W. STPA.W,
t
S"BisStlliaiii