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i
EVENING LEDaEBr-PHILADELPHIA, FKtDAY,, NOVWBEB 17 1
J: '--- " r . . . . .... , , II ll -
S 3,-SE '
I FINANCIAL NEWS
SfcSSKSK
STOCK TRADING WILD AND ERRATIC;
W limnn tt-i-tt rinAnrtn A nn ntim A TTClTTTnT"V
1V1UJK.11 JtlKaJtl JttJliOUlVJJi jttt,W iliQX Anionic
f Disposition to Change Money Into Securities Without
k- Much Regard as to How Venture Turns Out Is
Back of Sharp Advance
ffi ,om,s Today's Financial News
Trading wild and erratic on New York Stock Exchange, with many new
high records. Coppers, steel iiuluslrials and specialties in demand, the latter
moving over p wule range. Wheat -was weak on general liquidation. May
cotton made new top Mark market shaded in afternoon. Federal Reserve
Dank of New York had a big credit on movement of money during week.
Many extra dividends declared. Chesapeake and Ohio resumed dividends.
Price of bar silver unchanged.
New York Stock Sales
l.aat
elosa,
AemsTttt .,.,.,.... 07! (
Adams Kjprcss 140
AJftt rtubber TM
AlMka Oold M . 13f
AllikA J OoM M SH
Allls-Chalmprs Mte M1U
AlllJ-Chal Mfg pf 89)J
Am As Chemical 68) i
Am HoetSuear 102J1" 101
8:00
lllsh, I.ow. p.m.
07H 07H 07H
74
an
8
32!
ROW
H7H
103
00
72
M
10
71 M
2SM
IMtf
150
7t'
13M
8if
Ml
DO
as
07
72!f
m
10H
78 H
28f
Zllf
mu
ISO
7IK
13W
8i.
87M
103
CO
72
61
10)
72K
2SH
22J1
n.x
157 '
:f f
NRW YOIIK, Nov. 17.
That tho market Is ono of recurrent buylns wnvos wan demonstrated by tho
mnnncr In which moro high records wero established In today's wild and crratlo
trading. Many stocks wero forced up In a ncnsatlonal mannor without special
reason, except that nomo ono had received points that an advance had boon
arranged in thoso Issuos, put bnck of It nil was the disposition of n largo clement
In the country to changa money Into securities without much caring whothor
tho vonturo turned out In prollt or loss. Thcro woro exceptions to this condition,
however.
Tho copper Mocks Invited buying by controlling Interests, Investors and
peculators, becauso of tho known largo profits of tho copper-producing com
panies and tho stntemonts mado with apparent authority that at tho Docombor
meetings theso companies will rccclvo Increased dividends. Nearly all tho
copper stocks during tho courso of tho day sold at now high rocords, with sovoral
of them making gains ranging from 2 to C points.
Tho stool Industrials wcro also In urgont demand, with Republic Iron find
Btcel and Pressed Steel Car taking their places among tho rocord-brcakora.
An ndvanco of 4 points In Pressed Stool Car at tho opening was regarded as ovl
donco of tho scant supply of that stock. Tho manner In which many of theso
Issues moved up furnished a basis for statements that Wall ntrcot had lost
stocks to tho West and South and that prlco movements In mnny Issues aro
now being determined by tho Inclination of various npccnlatlvo elements outslda
of tho Wall street district In closo touch with tho Stock ExchanRo.
Tho various specialties covered a wldo rango In their tluctuatlons, with
Central Leather, dulf States Steel and Uothlchcm Stool rcsppndlng quickly
to now ordors with brisk movements.
London was a seller of stocks on a hugo.Bcnlo, ono banking hrfuso nupplylng
7000 shares of New York Central alone, and It was estimated that tho total
sales by lorclftn agents amounted to 70,000 shares, Including mnny stocks Jlko
United Stntcs Steel common, Union Pacific, Anaconda, Krlo nnd a long list of
specialties.
Pool activities woro factors In causing many of tho brisk advances noted
throughout tho day and wero In favor whenever efforts woro mado to form
offlco combinations, making tho market roscmblo In this respect tho most
actlvo tltnos of tho Flower boom.
Trading In bonds wns on a hugo scalo In many Issues, with convertibles
Jlko Chill Coppor Gs traded In In Inrgo blocks, with that lssuo moving up from
337 to around MB. Chcsnpcako and Ohio convertibles wero nlso nctlyo and strong
and thero wruJ heavy trading In Oranby Consolidated Cs between 109 and 110.
Rock Island bonds wero also actlvo and strong, with tho rs ranging nbovo 71.
Lackawanna Steel lis of 19D0 continued In vigorous demand. American Smelting
Security Cs woro also In demand at- brisk advances:
)
New York Federal Reserve Bank Has Hip; Credit on Money Movement
NEW YORK, Nov. 17. Tho featuro of tho known movements of money for
tho week endod with tho closo of buslnoss yesterday Is a credit of $31,173,000
by tho Federal Itcscrvo Bank of Now York at tho Clearing House Tho Federal
" bank ran debit only 'ono day In tho week nnd for n small nmount. Asldo from
this tho Clearing IIouso banks wero gainers. Tlicy gained not on balance from
the Interior $1,031,703 nnd gained $10,829,000 from tho SubtrcnHiiry, a total gain
of $12,403,703. Deducting tho Now York Fcdornl Itcscrvo Hank credit indlcntes
o. loss by tho Clearing IIouso banks of $19,009,297. It Is uncertain to what extent
tho exports of American gold coin to Argentina this week will llguro In tho known
movements. '
fry
1 Chesapeake nnd Ohio Resumes Dividends
, NEW YORK, Nov. 17. Tio Chesapeake nnd Ohio has declared a dividend of
2 per cent, payublo December 30 to stock of record December 8. This Is tho first
'""'"dividend slnco November, 1911. when 1 per cent wns declared. With tho declnra-
tlon of a 2 per cent dividend, tho stock Is now on a -I per cent annual basis, declara
tions to bo mado semiannually.
.WHEAT GETS WEAK
ON LIQUIDATION
,yiews Abroad Regarding World's
Visible Supply Are Against
Higher Prices
t
i
i ,
ohain niur wn.vritint fohecast
CIIICACO. Not. 11. Thr neither fore
cant for liilrfr-lx ItourM fullmvNr
.Mlrinenatu. lann. North Dukaln, South
.nakntii, Knimaii ami Nrliruiku ialr, no
drrltlcil cltunffp In frinprrutiire.
lHronnln I'artlr rlondy todnr. Hutur
uay' fiilr. n ilfildru rhunire In Irmpprutitre.
Inilmna Fair, not murli iliniuo In tem
jCHICAOO, Nov. 17. Thero was ucncrnl
; liquidation In tho wheat market today and
f. -tho tons was weak. Ilcarsh sentiment pro
, t 'dominated. Views abroad with regard to
"tho world's visible supply woro against
higher prices, nnd it was boliovod that pur
chases in tho United States by Importing
nations would bo limited from now on,
- Ons foreign authority assorted that tho
United Kingdom could get along with In
coming shipments of 2,100,000 bushels a
week, and that at the present rata of full
consumption thero would bo sulllclent sup-
Jply to last until tho middle of next June.
-, Domcfitlo statistics, however, wero bull
i' Jsh and thero was a good demand on weak
f .spots.
C The trustworthiness of some of tho re
,. cent decidedly unfavorable advices from
Argentina was Questioned, and traders hero
. J were inclined to discount them,
OS, ' An easier tono prevailed at Liverpool,
, il ,whero It was believed thnt Canada, Aus
,'',, : ttralla and India would bo aula to take
. '"i-'-V care of the needs of the mother country and
jL P083"1' luivo enough for France and Italy,
" -,( -with moderate help from America.
" The markets in the Northwest gavo
ground, too, and reports were received from
' I Winnipeg to the effect that thcro ras a
- disposition to sell November and buy later
positions.
December sold as low as $1,28 and as
high as $1.85, finishing at $1.82ft$l,82H
1 sgainst $1.85',i, yesterday's last price; May
sold as low as $1.88 and as high as
. ; $1.9014, ending at $1.88$M84 com-
, j pared with $l.!)0H at the close yesterday;
""i .July sold as low as $1.57tt and as high as
tl.59i, closing at l.o80$l.G7. against
$1,59. tba final quotation of yesterday.
Exports of wheat and flour from the
United States for the week were 6,899,493
"bushels, against 10,338,719 bushels In the
ama week a year ago; since July 1 they
nmount to JS0.335.-IS1 bushels against 148,?
348,918 bushels in -1915. Shipments from
Argentina for the week were 976,000 bushels.
ilrl
fe2a5t;i
WJJIOfii
le&dlcjr futurei rtDXl as followt:
Wheat Opd. Hlfth,
H. JJecemUr .'. 8jU l.S
31a ... ,.. 1.8u 1.S0H
I- July ..,. . I58U 1.0S
Iw,
1.S2
i-m
J.OT
J" riAiulnCi
T tffr- "4- """ V
txarL ait
HF'r4-; einb&t
85
8T4
en
: lilt
18.8T
lfl.ST
10.40
jraauarr H-6?
aiay n.w
PerU
. 15iiiriUr ..ST.T5
m
i l.DS
SSK 04)4 04U
B7K eu uau
i8 as '818
16.87 18.TO
10.40 1S.1T
10.40 18.17
14 60 14.43
14.73 14.57
ST. SO
2TST
37.85
27.42 ST.II
Ttrdy'
1C'8
l.oaii
S7H
18.73 '18.85
ltJ.lf 16.33
18.30 118.33
14.45 '14.45
14.80 114.57
27.80 ST. 83
27,83 t2T,85
87.83 $2T.tS
New York Bond Sales
S.HHIO Ailnma r.nr... .! kill'
STiiuiiii ahb1ci-i r. ur
SiMMin Am 1'orulKii Hoc r.M... iimH
4IIM) Amcr Hmlt Hoc llfl...llll?,
4(11)11 Amur Tul uvt IV4H...11J
23IKIU Amer Writ l'm 6b... mji
.Hum Armour Co lrju Iiltj
S2UUU Atchison won In UII
HiiHi Uu uiJJ la MU4
lraw iio cv Is 10M IciHj
luiiou Halt It Olilo aV4... U
4H00O du ca ; lujii
(1000 do 4s , I. U2
4!lliltl do cv l'4H nil
17000 Ilrndcil Copper Us.... 1)11
loiMi llrkn Itn ir l....:. 77'4
lliooii du r.s lniM lontj
fllliici Coil Uovt Gs lV2tl,.,. lllll
1UI1I1 do 1U31 10(1
001)11 Cal Ouh it llleo r,,. uoT4
uu..,, l-iii ruu isi is ill
Ulch, Low. 3 p.m,
L,,t,
HI.
un4
117
1
Ml'
11.1
UKV4
H7Ja llllj.
111 111H
HIS Ill41
U.lt II I
u.l
1IIJ4
hllU
llll'.j
III
iinw
III!
77'4
KIO'4
Ullti
lllll
1UT4
HI
ia7
nr
U3J.
7I
Ulllfs
mi
03H
Kill
4IIMIU0 t'lilll Copper 7h Ill
liiiHio Chcs & Ohio cv 4Ws. nr,
117000 do conv r u,it
3000(1 Chi Ot Wmt U 71!
BUII0 Chlo Ull Hla 4Vi,...10()
330011 fill II i Q joint 4.. oo'S
llllllll Chi M & St 1' 4s lour.. ll.Vi
411(111 do ronv 3s Kill
100011 docv4W 100)4
sown do pm Ih 10J14
UOIIII Chic it I & 1'jo 4s.... HH
lhooo do rrd 4s 70
inooo do 3s 71
4000 Col Ind11scrl.ll 3s 70S 711,
4201)0 l-oi & Houth 1st 4s.. 1131 I13C
r.ooo Corn I'rmlu Bs 1031.. 07tS II7
.inn uei a iiu,l couv 4s . . 1IMIW
iioon lien 4 mo (ir Bs mi
llooo i:rlo Ken 4s 7114
8000 Krlo vrlor 4s S3
M1110 Urunby Co Us Km
130(111 do ia Hi 1111
11000 lawn CVntrol ref 4s... no
300(1 111 Central 4s 1033... 87H
C IllDil intern .Mac 4H 7JU
41000 Interh It T rcf Sa.... 011S
ll'jonii Kit Aler liar s , 07
ooou J up new b s 4(4 s H1H
mono Kun City Ho Bs 0IU
14200U Lucka Steel Bs 1030.. lo'l
loon ljike Shorn Bon aHs.. hSW
looo l.eh Vul of N V 4V4.K)1V5
lnuu lrlllarj 3i Jul
13000 l.uuls & Nash 4s 0BT4
3200(1 Ho I'oq w I 4s, ISH
1 XI do col Bs 1017 100
looo do cons Us ,. D!)(?
mono n y c a it fls 114
.11000 do 3V4S H.1
loin) ilil 4s 0.1
louuu no 4Vs .....
loooo N V C A- Ht I, 1st 4s
luiiii an hs lliatl
C00O N Y N II & H 3H a 47 71 7
Boou N Y Hwy rer 4s 70 1
Bonn do ndJ Ss 304 BoK
liinoo n r Tel it.n 4 ... oos 00S
0000 Nor l'ac icun 3s (in si naif
20000 Ore Short I. rut 4s.. n.T- 0.1T
1112's
H7',
70.
loil
h'.l
74 !4
S3
101),
110
on
H7',4
73
1)0
07
"lit
1U7',4
83
10IV4
101,
034
HSU
loiifj
113
vo
0IV4
loiVi
01
101J4
02(1
ou
00
U'.lti
lllll
ouh
01
1414
:,,
03(4
74i
100J,
1131
loo
liioti
4
78t
701
7I15I
034
07'J
1011(4
hU
7414
N3
100
110
(1(1
H7!4
73
00
07
81tt
108
.518
1U1
U3H
lOUS
00(4
113K
03
. . llSJi 031 03i
. 02! II2JI 02(1
. .101; 101H 10IK
li:l; 03V
lill4 IH1&;
102. l(l-'i
r.xv . xn
1200(1 I'uo Uas 5
loon l'enna 4s 1018.
8000 do son ct 41, s
2000 do 4a 1013
10(1110 Peoples Qas Bs 10:
iuou i'uo err n J ns
2000 Heading sen 4s
70011 ltep Ir 4 S Ss
8000 at 1. 1 m i a o 4s..
1000 Be I. & H V ajs w .
BOOO Ail III w I
7(100 do r A w I.,.,.
loooo st I, swn 1st 4s..
101)0 Seaboard A L 4s
8SO0O do rM 4s.......
BOOO South I'ao 4s,..,,
2000 do cv A
IHOiio do cv ret f p Cs
18000 do rM 4s
I2UOU Boom liny gen 4a,,,. TO
1000 do con 5 ,..1024
44000 Texas Co cv Us.,. 103.
loOuO Third Ave rr 4 s 81(1
2000 Tol St I. W 4s,,,,, 02
111000 U 8 B a II 8s. ,,,,,, ,1124
8000 U S nubber Us...,, ,, 1021
S1IIOO II B Utael S V 3 . . . . 1071,:
81000 ITn K Ot a II 4 I Ss, 08 15-U 0814 CS
8000 Union I'ao 1st 4s.,,, O'jji l)0U till
tiUUM uw v --as (H41I fTal
23000 Un Rwya a ( 4s,,..., 40
80OO Va Car Chm 1st Ca., 00 U
SOOO West Md 1st 4s , Tilil
1000 "West Shore rw 4s.,.. ODH
10000 West Union 4(4s....f 07H
7000 do Ba "lOlK
1 71
3 in
304
nnI
03 '4
03S
DOS
111254
004
.....ir
-n "-r. "-ii
u- It Ui. lUIm
ii.'. oss "
101 mofi 1111
v4 kH m
7$ i m
11kL Tnil qtiiz
... 814 8l( 8IH
... (1014 UU-i 09K
,., 8K 88K 88S
... 88H 884 -1-.
...103 1U4I 1011
11 TX U'Ti !-
7BV4 70
102(4 102(4
103(4 103(4
8l(X 81(1
02 62
1028 1021
1(17 lllll!
04(
So
78
OOU
07(1
101K
1141)
aoj
riir
78
en1
9W
101
ttLL -. litwBB
BfitJS - -Tajiife, w
yiwst QuJot fa Liverpool
POOI Nov. IT Wheat u ejulet
wllto Ha. 1 KortJwB Duluth au4
j tanj TVttiltr quoted at i& 104, 3 tt&-
1 siammm Maawana.
lit
DIVIDENDS DECLARED
Unda Air Products Company, usual quarterly
cj 2 per cent on common and 1(4 par cent on
preferred. The common 1 parable December
30 and the preferred January ?. Holder or
refwrd Pecember 20 in each Instance are en
titled to tba dividend.
lladdlnctoa TltU end" Trust Company recular
semiannual ef 3 per cent, psjrabla December 1
to stock ot record November 28.
Central Electric, recular quarterly of 3 car
cant, payable January IS to atock of record De
cember 18.
wrtrl.
Am Can (ViH
Am uaf a Fdy, 71H
Am Cotton Oil ft!
Am IIWo ft leather..... 10
Am llldn ft I, pf 71
Am Ice Sccutltici 28!
Am Mnwcil.,,,, 23
Am fromotlro mi(
Am LoeomotlTa Pf I07K 107W 107H 107H
Am Smelt tc Iter 118U 121 118,,110H
Am Smelt A It pf HG). 110!, HOW 1105
Am Smelt pf 11 00J, 11051 00H WH
Am Piuir Itcflnlng 118M 119 118 118
Am Rtn-I roundrloj Ofl)( 09J COW CO
Am Tel A. Tol 133J1 133 1331, 133W
Am Woolen ttf MM C3JJ MM
Am Woolen pf 07H 08 03 OS
Am Wrlllns ! pf 02M MM 02 M
Am Zinc L& 8m COM COM COW COM
AmZI, AHpf Kl 81 82M 8211
Anacomli Cop M 101W 103!f 10IU I02M
Alcli Top Sf I01H 105 101M 103
All nun ft w 1 12J3 120
Dim Ixko Vlc3 K,!i' 80
Halt & Ohio 80i
7fol
...055
...MO
...81
... G0
Halt & Ohio pf
Ilcthleliem Steel... .
Iletlililu'in Steel f.
Ilrooklyn Itap Tr...
llutto fc Superior...
Ilulterick Co
Cil Petroleum pf CI
Central Leather.....
Chandler Motor..,.,
Cties A; Ohio
Chlcaso Ciieat We3t.
Chi (ireat West pf. .
Chi Mil & St I'
Chi &. Northwestern
Col 031 & i:icc
Chi It 1 & I'ac .13
Chllo Copper 28M
Chlno Copper (0M
Col Fuel & Iron mii
Coin 1'roducts itcf 23M
Corn Prod ICcf (if 102W
SOJf
7ftM
GSO
17(1
81M
08V,
UUi
CI
.113M 118
.100 100
. 07 C8W
. MM MM
, 43 41
03 03M
123U 12 1W
80M 88
R3M 8CM
75M 7CM
055 080
174 174
HIM 84M
07M 08
2IM 21t
CI CI
11 1U 11 IM
ioo ion
(7H 07)1
ll( MM
421 43
01M lM
120M 12M4 127M 12KM
41M 41M 41M MM
3IM
33Jt
71
oojf
21
13
32'f
71
00
23
005,
.12.1
. 71U
. 08K
. 4351
. 24
iiuJX
Crucible Steel
Crucllilo Htecl pf
Cuba C'ano Kuiar. ....
Cuba Calm bunar pf , ,
Distill Sec Corp'u
Domo Mines
l.'rle
Krlo 1st pf filjf
Oaston W & W 43M
(leneral l.lectrlc
Goodrich II K
Oranby Consol
Great Northern pf. ..
G N cfs for oro prop
Ortene-Canaiiea
Gulf Stales Steel....
flult Stales Steel 1st pf.103
GUlf States btetl 2d pf..lK()
325i
an
70
C7M
23
10-lH 10254 101U
02i )Wl 02
123W 12351 12,'iM
72!J 7154
03M
43
2iif
MU
r,H(
1IM
Illinois Central....
lust) Con Cop
Inl HarvN J
lilt Paper
lot Paper pf
Int Nick T t rfj. .
Int M M col dp..
Int M M pf c of dp.
08M
43M
21M
0
52
45
..1K1W lho'f 182
.. 0051 7051 0054
..100W 10-151 10151 10151
..11854" 11854 118 US
.. 41M 4054 4IM 45,
.. M MM CL MM
1S.I 183 177 177
10SM 107 10554
185 180 180
034
435 i
21M
3115 i
C1M
1IM
183
OM
,..10534 105M 105J4 105M
.. 70!i 725, iH'i ,2
..117 117! 1171! 117)1
,. 0DM 70)4 OOM 70
..10554- I05M 105 105
.. C051 40M 4SM 4851
,. 40JI 4S54 47M 4754
.120 12151 11031 11051
Kan City Southern 2(1 20)
Kelly Hprlni; Tiro 7754 78
Kennerott Copper C7J, 01J4
Uv Itubber Tiro 3054 41
Lack Steel Co 101 J,' 107
LrhlBh Valley 8231
Mackay Cos pf CO
Maxwell Motors 77
Maxwell Motors 1st pf. . 82M
.Maxwell Motors 2d pf.. 51
Mcx Petroleum 100
Miami Copper 4054
Minn & St I, new ,'l2Jf
Missouri Paclllc 10
Missouri Pac tr cM 10
Mo Kan & Texas 754
Montana Power OSJJ
Nat i:nam & H Co 31)1
Nat I.tad Co COM
82M
CO
77
8251
CI
11154
47
:iiM
1054
10M
754
0SJ4
:mm
0034
30J1
ISO
107
17
31M
CS
7M
2751
W
C7
UM
4334
110
801
80
5854
3(1
10834
40)1
01
211)4 20H
V7M 7751
5354 01
3051 4031
10154 10 IM
8254 8254
00 CO
75M 70
8251 8231
COM COM
110 11134
40)4 47
315 31M
10 j()54
10 10)4
7J4 754
03J4 0854
34M 3IM
0014 d'J.'i
20't 3051
178f 171)
107 107
17 17
atl'f 31
G7.'X 5751
111 111
751 751
2051 27M
OS34 08J4
5051 57
4351 4334
4254 43
Nov Con Cop ill!
New ork Air llrako. ...177
New York Central 10734
Now York Docki JO
N Y O A. West 2051
N Y N II &II 5354'
Northern Pacific Ill
Ontario Oliver Min 754
PacllieMall 20
Pan-Am Pet & T pf 08)1
Peiin Itallroad C0J1
I'lilladelphla Co 41)1
Pitts Coal c of dp 42)1
Pitts Coal pf cof dp.. ..100
Pitts C C & St L 81
Pressed Steel Car 81
llv bteel Sprints C051
Hay Con Coppor .'UM
Iteadlnc 10851
Headli:L'2d pf 10)4
liopubllc Iron & S 8031
i Republic I & H pf 1,0
Seaboard Air Lino 1034 10
Seaboard Air Lino Pf.... 33 38
Shut Ariz Cop 3354 35
Sloss-Shef S & 1 01 03
Southern Pacific 0034 100
Southern Ity pf 07)1 07)4
wtudcuakcr Co 120)1 127
btudebaker Co pf...
Tcnn Copper........
Texas Co, ,,,
Texas Pacific... ?....
Tobacco Products...
Union Hay & Paper.
Union Has & P new
United Cigar Stores.
Union Pacific
U S 0 I P &F
USD I P&lfpf..
U 3 Ind Alcohol 138)1 140
United Itys Inr 10 151
United llys Inv pf 28 27M
U b" Itubber
U S Itubber 1st pf.,
USSm It 1M
U 8 Steel Corp'u...
U 8 Steel Corp'u pf
Utan Copper........
Utah Securities 1851
Va-Caro C'bem.,.., 45! i 40
Va Iron Coal & 0 0434 00)4
Wabash 15 15
Wabash pf A 65 67
Wabash pf 11 20)1 20M
Western Union Tel 10131 102)1 102
West IS & M 0551 00 05M
Western Maryland 2551 20 20
WLita Motor ,. MM MM MM
Willys Overland 385X 30 3834
WUconsln Central 6034 61 61
WoolKorlb K W 13SJ1 133M 133) 138J4
uuoiea ex mviaena.
I00M 110
8151 85M
81 85
5734 68
3154 35
.OS 10S
40M 40)1
88 U051
11051 110(1 11051
1554 10
37 33
3J34 35
U! OJ
OOM 100
07)4 07)4
120)1 127
.112 U1M 11154 HIM
.. 23W 2351 23M 23)1
..228M233 22751 231W
.. 18)4 18)4 18 18)4
.. 62M 63 63 63
.. 111 14J4 MM MM
..111)4 117 115 117
.. 00 03)1 OOM 00)1
..148)4 11851 14751 11731
.. 2034 27M 20)1 2734
07 07 07 07
137 137
14 14)4
27 27M
COM 01 0051 C2M
112M 113 112)1 11251
77)1 7851 7731 78)1
12354 -125J4 122J4 125
,121)4 121 121 121
11034 123)1 11051 123
1834
40
(.7
15
65M
20)1
40
CO
15
67
20J4
102)1
05,,
20
M5X
3b!
61
LONDON STOCK MARKET
Trading la Quiet; Americans
Firmer
Are
UW i5r K i JMjs aG JfiJfiSsSs
OTilfe . iNafrWiwr wftHava, mJMmsMBBsM3smSsWsB8m t.
LONDQN, Nov, 17, Trodlng- In securN
tlea on the Stock Kxchango was quiet to
day but the undertone of the markets gen
erally was firm.
The gilt-edged section was Irregular, but
the feeling was plieerful, Light support
was given to home rails. London under
grounds were strong.
Allied bonds were hard. Russians were
better on nn Improvement In the position
of the exchange.
TRANSIT COMPANY TO
DEFINE ATTITUDE
Continued from Fare One.
tho company against diversion of trafflo
as a result of the operation of the clty
butlt lines it be rna.de clear that tba pres
ent net income and not 'a possible greater
future tret income b used aa a basis for
making estimates.
The Director of the Department of City
Transit or tho Engineer of that department
should have supervision over the cost of the
equipment as well as the design, according
to Mr. Seasley, In order to prevent the
company from investing an unnecessary
sum, which must be deducted before the
city can realize any profit from the lines.
Mayor Smith declined today to comment
upon any phase of the transit question un-
Mier we mtatlag, Wfcift asked, whether
Mm m tWsMwas Jk wa iw?n
BUYING ORDERS SEND
curbissues UPWARD
Midvale Steel and Copper Stocks
Make Good Gains Several
High Records
NBW TOHK, Nov. 17. Trading on tho
IJro.id Street Curb today was on presum
nbly n now high record scute. Buying
orders camo In Unusually largo nmounrs,
nnd many of tho Important Issues sold nt
advances.
Mldvalo Steel In the early nfternoon
showed nn ndvanco of 3 points to 73, white
tho copper stocks wero In brisk demand,
with Magma moving up 9 points to 18Vi
and many other Is'.iuc.i recording gains
ranging from 1 to 3 points.
St. Joseph Lend nnd Darwin Sliver both
mndn new high records, nnd IIowo Sound,
which has been strong for several days,
mndo a further ndvanco of 1 point to the
now high record of 3V4.
In tho oil stocks strong conditions ntso
prevailed. Standard Oil of Now Jcrsoy
roso from C8S to G55, Standard Oil of Cali
fornia rouo from 3CS to 380 nnd Standard
Ool of Now York advanced from 27G to 28C.
Tho Independent oil stocks also demanded
attention Metropolitan Petroleum, which
sold yesterday nt 7, advanced to 13 on ro
ports of n now consolidation with nn nggro
gato output of 20,000,000 barrels a year.
Dnrnctt Oil nnd Can wan In good 'demand
around 4 and Wyoming Petroleum sold nt
a new high record of 2$i.
Itock Inland's new stock sold nt 38 nnd
.18 i, tho 7 per cent, preferred nt 88 and the
8 per cent preferred at G914 and 70.
Cramp Shipbuilding, In tho first half of
tho day, sold nt 95 nnd 90. North Ameri
can Pulp rose from IB '4 to 1BT.
CnrtlBH Aeroplnne ndvnnccd from 2S to
20. Tho motor stocks wero quiet nnd with
out Importnnt chnnga.
INDUSTnlALB
Bl.l Askcil
Aetna I'tflflKlvoa ni 10
Amirlrnn-llrlllsh JIfK 18.. 20..
AiniTlciui Mnrcnnl 3vl 3vi
Cnnmllnn Car Co 411 Ml
Can Cnr & IMy pfd 70 Ml
I'urtlnn Aroplnno . . . .1 i'R .10
I'merson l'lionoarnph 1-54 l-7k
Ilnnkoll A llttrkcr Cnr .....43 II
Hi-mi. .Mf 23 811
Kntlioillnn llrnnze pfil II, 11
l.nurrl Oil A Ui i
Mnilm Munitions (IS nU
Miinlmttiin Transit .'
Midi n In HIpoI 721 7.1
litis t:ielnlnr IT,, nil
I'corloni .Mulorn 88V4 8354
I'onl" Krialnn Inn 11''..
H H Krrsxn w I 181 1351
Hlnmlitnl Malora 74 ..
MnI'Mi.irln- 40 4nJ4
Trliumln rilm 8 8JI
nltiMl Tltnlnrs 081 Ol'j
Vnltdl rrnllt Hlinrlna- 1 IS
linllicl Htnti-s l.litht and ltent com. s 8(i
tin nr''r'rreil 4 r
Worhl I'lliii 1 154
MISCm.UANCOUS
Itork lnlnml rnmmon n'4 3d
In llrst nrrfprrpil H7ft H1)4
do sceontl prelcrrcil Itul 70
8TANDAIID OIL STOCKS
Illinois Sin 82.1
(into .'inn lls.-i
l'rulrln I'lpn 33.1 31.1
Htnnd.ini nil or California 3711 373
Siiiinliiril oil or New Jrrsny tisil mill
Hlumliiril Oil or New York 8H0 88
OTIinil OIL, STOCKS
CflKilon Oil 13J1
Condon & Co 174
liilrr I'ctrol 11(4
Houston 1)11 Ill
.11 1, In cut lUf 74
Kavulou Iter . . r. ll'.i
MININQ STOCKS
Atlnnta
lluttii Copprr ft 'Anc.
lluttn Now York
i Vrro do l'usco
l'lrst National
riorewo (lotdllcld ....
lloldlli'ld Merxor
Ih)(.la Mlnlnir
Howu Muuml
Jim lluilcr
Jnmlio Extension
McKlnlcy.D.irraKlf ....
MiiKina Copper
Mini's Co of Amorlca
Nltdsslnir Mini's Co ...
Han Toy
Ht Joseph Lend
Went Cnd Colisolldatfti
Whtto Oaks
8
4l2
4,
811
.'.
HJ4
llf
11,1
8.1.
Ill)
OS
II
17
81V
78
4
Orro do Pasco lis
Mldvalo Steel OS ..
HuBHlan (14 s
U K (Mb .l-ycar .
U K rj4a 5-cur .
..181
. . usH
..liiuH
. . ODW
.. 08
lll'i
711
11W
ln.,
lW
84
41?
r,
311
ii
n(4
100
.111
u-
111
7
t
125
IflllS
1H1U
iV4
IMlti
U8
MANY EXTRA DIVIDENDS
NEW VOniC, Nov. 17. -Tho directors of
tho General Chemical Company have de
clared nn cxtia dividend of 5 per cent nnd
u iipcclnl dividend of 1C per cent on tho
common stock, paynblo February 1 to hold
cru of record December 30. A dividend of
2 per cent will nlso bo paid March 1 to
common HtockhoUlcrs of record February 21.
This 1h an Incrcnso of one-half of 1 per
cent over tho last quarterly disbursement.
Tho rcBUlar quarterly dividend of 1 por
cent on tho preferred block niao was de
clared, payablo January 2 to holders of
record llercmber IS. Iloldera of common
Htock as of record December 30 wero voted
tho privllcKo of HiibscrlblnB for new com
mon stock In nmounts equivalent to 20 per
cent of their present holdings. New com
mon stock will bo Issued to cover the re
quirements of this privilege
Tho Clicscbrnugh Manufacturing Com
pany has declared the regular quarterly
dividend of 13 a sharo and nn extra divi
dend of fifty cents n share, payable Do
combor 20 to tho holders of record at 4
p. m., November 29.
I10STON, Nov. 17. Directors of Cali
fornia & llccla have declared quarterly
dividend No. 170 of J25 per share, payable
December 20, to stock of record December 2.
Tho previous dividend was $20.
nEDFOrtD, Mass., Nov. 17. The Holmes
Manufacturing Company has declared an
extra dividend of (10 a share on tho com
mon stock In addition to tho regular quar
terly dividends of 13 a sharo on the common
nnd of 1 2 a share on the preferred stock,
LONDON, Nov. 17. The FIno Cotton
Spinners' Association has declared a four
per cent Interim dividend on tho ordinary
shares, against three per cent for each of
tho last eight years,
CLCVELAND, Nov. 17. The Standard
Oil Company of Ohio tins declared a quar
terly dividend of 13 and an extra dividend
of ?1, both payable January 1. Hooks close
from December 1 to December 21. Inclu
sive. Trev jus dividend was 13,76, de
clared August 18,
riTTSnimair. Nov. n. The Independ
ent Urewlng Company declared the usual
quarterly dividend of 14 per cent on the
preferred stock and In addition declared
V, of 1 per cent (25 cents) on the common
stock, making the first payment on the com
mon stock Blnce 1907. Tho preferred
dividend Is payable November 29 to stock
of record November 23 and the common
December 15 to stock of record December 0.
NEW YORK BUTTER AND EGGS
NEW YORK. Nov. 17.--BUTTKH Recslpts,
7801 tubs. Active and somewhat excited, all
Erades belnc absorbed on arrival, Kuril cream
ery, 41c; htslier scoring, 31U to 32ci Stats
dairy, 40c; Imitation creamery, 31H to 44c.
E003 Receipts. 7071 cases. Fine fresh high
and still advancing-. Medium quality, iuUt and
Irreculars storaea hUhtr. Kxtras. 48 to 48c;
extra firsts, 43 to 43c; firsts. 40 to 42c: white
ecus, 63 to 72c; brown, 4s to 67c: mixed color,
39 to 48c.
LIVE STOCK QUOTATIONS
1.71 J9. 00; stockera and feeders. $3 B0&T.80:
tiara, n.niis.ao. calies. tl0.50O12.5u
SHEEP -IUcipts. 11,000 head. Market
CHICAGO. Nov. 17. HOCIS Receipts. 35.000
bead. Market 5010a hlcher. Mixed and butch,
ers, 10.80010 03-. good heavy. J9.75W1U.03;
rough heavy. IU.33 010.6.1. light. t8.6UUU.u0;
plus. ja.aoe8.TS; bulk. JU.lSiiD.SO.
CATTLE i lUcilpts. BOOu head. Market
steady, ueeves, . inuyi.vai cows aim ueur
13.7549.00; stockera anil I
'iezans.
stronc, NtUe and western, t4.29O10.25t
lambs. 18.40Qll.25.
Sugar Futures Lower ,
NBV7 TORK, Nov. 17- Tho futures mar
ket for sugar opened easy, 6 to 7 points
lower with trading on the call quiet, first
sales amounting to 650 tons, Conditions ln
spot sugar appeared to be a trifle easier and
this waa reflected ln the early trading on
the exchange, where) local speculators and
Wall street sold nearby months.
BAR SILVER
Bajr. tUmt wm mu. fe fMa at Sid
iiia lit i i . an. ,..,. ,..,.1 '
Sales in Philadelphia
Net
Utah. Ixw. Clow. ehre.
10 Acmo T t o e eiVi JVi J4
25 do prcf . 9S 0H B X J
ioo Am Milling 7W 7W IV -r n
es Am ltys pf 07 Bl 97 H
ioo Am Zlno .61 01 01
200 Am Can .. 67 67V4 1Y
1200 Anaconda .103 losvi 103 XIJ
100 Am Wool. 84i 04 84
40 Ilald Ico. KtM MM aW lJ
0 H & S t O. 67W 67H 67W W
55 dopf .... 00 60 60 H
100 Cub Am B. 72 72 73 .-.-
1010 Chllo Cop. 3"4 30 31 tt
000 Corn l'rod, 24 23 83 W
85 C Tr N J 744 7H 7H H
127 Catawlssa
2d prcf 33 BS 53 H
310 nice Stor, 71 704 70
410 Krlo ..... 37 30 37
360 Insplr Cop 71 11 71 W
60 InaCoN A 27 27 27
80 Int M M .471i 47 47
06 y Sec 20 20 29 1
150 Key Tel... 14 14 14
S330 Ifonno Cop 61 83 00 2
10770 Ij Hup Cor 20 2 28
240 l.eh Nav.. 80 80 80 1
143 Loll Volley 83 82 83 2
50 Mex I'ct ..111 111 111 2
8205 Nov Cons. 30 29 30 1
100 North Cent 80 80 80
203 l'enna It It 57 60 57
100 I'CC & Htt- 80 80 80 2
100 IMttsbgh C 43 43 43
100 dopf to. .100 100 100
101 Plllla Co
cum pf. 12 41 42
4442 Phlla nice. 20 28 20
6007 V II T t O 20 25 25 Vt
10 I'hlla Trnc 70 70 79
100 IT Stl Car 80 80 80 2
2080 Ilay Cons. 30 84 SO 1
800 Ton Del.
42 Ton Mln..
280 Un Trao . .
HO U S Hub.
202 U a I ...
7243 U S Steel..
010 W Cramp.
4 0-10
0
40
01
01
124
03
I.O-T.
00
100
104
102
62
57
4
0
47
03
02
125
05
IIONIIS
lllxh.
$4100 A G&nt 5s D0
2000 Am llys Ch.ioo
0000 llald Iaico
1st Cs ..101
2000 City 1938
rcg ....102
800 i:iec & Poo
Tr 4h .. 83
2000 Int llys 4s 67
oooo Lk Sup I nc
Gs 40
1000 I,oh Vcons
4W reg
1923 ...101
do cons
44h '03.100 100
do cons Ca
rcg 110 110
1000 ra Co cons
4V4b ...100
8000 Phlla Co
cons Cs. 01
BOOO do 1st Cs,101
21300 Ph Klec 4n 02
1000 P II & W
4s 1943. 00
1000 llcnd gn Is 08
loooo Vn llwy
Inv Ca.. 70
4
0
47
63 3
01
125
03
Close.
00
ioo
104
102
82
87
1
1
Net
chiie.
1
11000
4000
40 40 1
101 101
100 -f
110
100
01 01
101 101
80 02 0
100
00
03
70
00
03
70
Financial Briefs
Tmll W. Wagner, one ot 13. W. Wagner
& Co. of Chicago, and Ucnjamln Block, of
Flnley Unrrcll & Co., of New York, havo
been elected mombcra of tho New York
Cotton Kxchnnge.
At a special meeting of tho board of
representatives of the New York Curb Mar
ket Association this morning tho 30,000
common shar s of tho Mnnhattan Klectrlcal
Supply Company, Inc., par value SI, wcro
formally listed, nnd tho 15,000 first pre
ferred stock of tho company, par vnluo S100,
was listed nnd ndmlttcd. Trading In tho
latter will bo flat.
Tho Now York Stock Dxchango hns nd
mlttcd to dealings Consolidated Gas, Klec
trlvT'lR"ht nnd Power Company of Dnltlmoro
temporary & per cent convertible notes duo
1921.
FOREIGN EXCHANGE
NEW YOniC, Nov. 17. Tho foreign ex
change market showed a continuation of in
activity In tho early dealings today.
Quotations: Demand sterling 4.75 11-10,
cables 4.7G 7-10, sixty-day bills 4.71 i.
ninety-day bills 4.09H; franc cables 6.83H.
checks 6.84i: relchsmarks cables 09 7-10.
checks C9H ; llro cables 6.70U. checks 6.71;
Swiss cables 5.19, checks 5.20; Vienna
cables 11.86, checks 11.85; kroner Scan
dinavian cables 28.40. checks 28.32 ; pesetas
cables 20.40, checks 20.35 ; guilder cables
40 Plus 1-10, checks 40 less 1-1C;
rublo cables 30.75, checks 30.G5.
RATES FOR MONEY
New Tork .,
Philadelphia .
Iloston
Chtcairo
Commercial paper,
i U'ai
delphla, 3W I
Cnll
.... 2 ff3Vi
,'.... 4 O
.... a; O
3!, 04
three to six months. Phlla
per cent.
Time
2 BI
4 t
BANK CLEARINGS
Hank clearlncs today compared
spondlna day last two years:
nun nun
rhlladelpnla
New York..
Iloston 60.707.7711 3'.. 705.344
Chicago .... 81,350,511 55,102,1108
$.17. SDH, 431 131,0.13.(1.17 122.043,763
uii,iiui,iiiii o. i,i,n,,ii)o
with cqrre-
1014
,043.
15,003,383
48,418,723
B.A.
A
PUBLIC SERVICE
SECURITIES
Ph&i"ic Service Securities are a lien on
the success of communities
C Municipal Service Co. 5 Collat
ersl Trust Sinking Fund Gold Bonds.
CI, These bonds are amply secured by
deposit of first mtt'. bonds to an amount
greater tban outstanding Municipal
Service bonds and a very considerable
equity in. the stocks of the several
subsidiaries.
CL The companies' properties are locat
ed in Penna., Virginia (two), Ohio,
So. Carolina, Georgia, which insures
the stability or earnings, which are
largely in excess of required chaVges.
C, Tax refund in Penna. FREE from
normal Federal income tax,
BeJten Ayliig & bng
Lejvd Title Bldg. PhUarJclphirx
Tnx Exempt in Pennsylvania
Frea of Normal Federal
Income Tax
West Penn Power Co.
First Mortgage Gold
5s
Duo March I, 1946
Net earnings of tba company for the
current year aro equal to thru times
Interest requirements.
A. B. Leach 8c Co.
115 South Fourth Street
Baltimore
New York
Boston
Chlcaso
London. Bus.
DIKKOTOIiY OP aCCOWtTAHTil
pyir
IIIIXI II il 4MJJ u .'ia.-?f'5-
Ji
LAKE SUPERIOR STOCK ADVANCES
IN TRADING ON LOCAL EXCHAHGi
Philadelphia Rapid Transit Trust Certificates DdclinJ
Railway Sells Equipment Trusts
In the trading on tho Philadelphia Stock
Exchange today Lnko Superior Corporation
Rtock wna afraln tho moat actlvo. At ono
tlmo during the morning tho price was up
moro than ft point, na compared with the
final figure of yesterday, but some of this
gain was lost before midday on profit
taking transactions.
Philadelphia Itnpld Transit trust cer
tificates were the next most active of tho
local Issues. Tho nctlvlty was at tho ex
pense of tho prlco. During tho first hour
tho quotntlon wns a fraction moro than n
point lower, but somo of this was recovered.
In view of the good ndvanco which has
occurred, tho Street was not surprised thnt
tho prlco waa lower, as a largo part of tho
Bales today werti attributed to prollt-taklng.
Union Traction was also lower.
In the afternoon the report !,... M
cuiation in tne street that there" W36i
n hitch In the negotiations &.llSll
company una mo City. It was ..ii
this was In the Phlladelnhla n..i?l?
Company doing Its financing tilAa
support of the Union Traction ? 3
Taking tho market as a wholt i Ttj
luiiijr muu turn compared verr fa.v7
mill .mm .I,.. rm.- --. ' 'a-TOTalA,
were In tho mnjorlty of IneUnceS89?
to fractions. nce eo
Tho Street waa Interested In o,. . -J
thnt the Southern Ilallway ComainJ?!
-Id 15.100.000 4 M per eenriL
trusts to urexei A
twenty
1225,000
resold.
o Drexel A Co. They rniiSrS
equal semiannual nstm!
each. Most of lhS "V?""? f
"'
MAY COTTON SELLS
AT NEW HIGH RECORD
Advance Comes Soon After
Opening Declines Aro Re
corded in Lator Trading
COTTON niXT tVEATnETt CONDITIONS
KHV YORK, . Nor. 17. Clear ft alher
prevailed throughout the cotton belt this
mornlnr. . .
The following temnernlnres were. rord-
edl Asherllle, 2ti Italelsti. 2S Ansuata,
30i Knoivllle unil MrrldUn. szi .MonisomeiTi
Kort Mmlth, Del . Itlo, Ullmlmton and
Thamnstllle. 3ti Abilene, Oklnhoma, "Irm
Inshsm and Atlanta. 30i Utile Hotk nnd
t'lmltiinoona. 3S Mhreteport, Han Antonio,
Mobile, Kanhtllle nnd t'linrleston, 40i lrk
liur. Mrmnhls and rensnrola. 42 jw
Orleans and Cornus Chrlstl, 41) Tampa, 401
(Inlreston, 4B.
NEW TOniC, Nov. 17. Heavy buying
orders soon nftcr tho opening of tho cotton
exchnnge rushed Slay contracts to tho now
high record prlco of 21 cents today. Thcro
appeared ,to bo n big demand for tho spot
artlclo throughout tho South.
At tho opening tho market was barely
Bteady nnd 7 to 21 points higher. Heavy
realizing of a general character, Including
houses with Now Orleans nnd Liverpool
connections, prevented tho list from making
n full response to the strong market ln
Liverpool.
Private cables from Liverpool said that
spinners wcro free buyers of futures there,
nnd enrly spot news today hero was to tho
effect that cotton was In good demand all
over tho belt
After tho early ndvanco to 21 cents
for May tho market rcactrd several points
under heavy general realizing. Houses
with Liverpool connections wcro good buy
ers, however while bull support was ag
grcBslvo and offerings wero well absorbed,
Ilcaatlonary sentiment was considerably
ln ovldenco later, being promoted not only
by tho extent nnd rapidity of recent ad
vances, but by talk of n smaller trndo de
mand and a feeling that tho price of futures
wns overtaking spots,
Tho market wan nervous and Irregular
Into In tho morning, but heavy offering
wcro absorbed un reactions ot 15 or 18
points. It held steady over tho noon hour.
Southern spot ndvlccs wcro rather moro
conflicting, nnd varying opinions na to the
character of tho buying also seemed to un
settlo sentiment, nnd prompted evening up
for over the week-end nnd for tho census
report on Tuesday.
Open. Utah. Ixiw.
211.1111 2U.I10 20.10
20.0'.' 20.02 20.23
20.05 20.H2 20.2.1
211.84 21.1111 2II.R0
211.82 21.00 20.47
IB. till io.no IS. 52
December
January. ,
March...
May ,
July
October..
Spotv.
Close yea.
... 20.37
. .. 2(1.42
... 2H.HS
. .. 20.73
... 20.72
Close.
20.17
20.23
20.411
20.113
20. US
lH.r,2
20.20
Liverpool Cotton
LIVERPOOL, Nov. 17. A fair business
wan dono In spot cotton today nnd prlcos
wero 17 points higher, on tho basis of 12.03d
for mid-upland The sales aggregated 8000
bales, Including 6000 bnles American, The
Imports wero 0000 bales, American none.
The market for futures closed firm at a
net advance of 13027 points.
Tax Frea ln l'enna. Free ot Income Tax
$150,000
PHILADELPHIA
School District 4s
Due October, 1012
Due October. 1013
Due October, 1014
Legality Approved By
John G. Johnson, Esq.
Legal Investment for Trust Funds
Martin & Co.
1411 Walnut Street
Philadelphia
LOCAL MINING STOCKS
TONOPAII BTOCKB
Jim Tlutler .?
MscNamara .'"'''"" '"'"" 'H
Mldtray SS 4l
Mi.pah En ::::::::::::::::: ? si
AWi'a.Ri". li
Ton Kit H JV'i
nescueKuV:: ::: hi
west end ,fj
OOLDPTELD nTOCKfl
sWrTai-::::::::: : :!
niamondneld D D .......I: '6s
Daisy ..." !?
Klnrenra ...,": '21
ooidneM con ..""..I"":.:;
noldneld Mers ! . . . . . , . . . . . ' '.' 'a
jumbo rat ..;;.;..:.. . ??
Kewanaa :'. 'A
sand Ken ........::;.:;.!.: oJ
Silver l'lck 1 iSS
MISCELLANEOUS
Nev wonder'.;;;::;;:;'.:::::; vjs ,-
Tecopa Min ::.:::;;: .11 1hI
NEW YORK COFFEE MARKET
NEW TORK, Nov. 17 The rairk.t tZI
cofteo futures opened steady this mornlM!
2 to 8 points higher. Trading on tht caff
was quiet, saies amounting to 2719 btu,5
TM.'. ......
ooenfnr. "."?!
November Losai 1
pecember 8.J0O8.12 OlSf'Sl
January 8.10 8.lj5t lil
Kebruary tj vl
April B.14S
May B.4308.4J siltl
June S.IIOlKl
July n. uses, no a.sieiil!
Heptember 8.00QRi74 MoAiitl
October 8.7808.75 I.esSlttJ
November
Bond List
Our current general list in
eludes offerings adapted to
the various requirements of
institutions, trustees and indt j
viduals.
Issues Yielding
U. S. Gorernment - 2.00 to i
Municipal - 3.80 to 423
Railroad - - 426 a W
Public Utility - 4.90 to iU
Foreign Government 5.00 to 6,(5
Send for Circular PE-63
The National Citjf
Company
1421 Chestnut St, PhiladelpnU
New Tork Htteburah Destoa
TAX FREE IN PENNA.
HARW00D ELECTRIC COMPANY
Itt & Refdg. 6't, 1942
Price to yield 5.65
r.TELLOn & PETRY
Sfembers N. Y, i. Phlla. Htock Exehanies
838 COSIMEltCIAI, TRUST IIUIUHNQ
Mortgage Bonds
Providing x
Liberal Returns
The investor who take tho
trouble to investigate securi
ties can always discover somo
good mortgage bonds yield
ing returns that apparently
are too high to be truly con
servative. We invite requests for our
Letter No. 2541. that de
scribes three bonds of this
kind, and explains why such
well-secured obligations can
be purchased at compara
tively low prices.
William P. Bonbright & Co., Isf
MORRIS WISTAR STROUD, J
Uanaier
437 Chestnut St., PhiladelpWa
New Tork Bastaa JWrt
London raits
William P. nonbrlaht Co. BonbrUM C.
Earnings & Dividends
OF
The Barnett Oil & Gas Company
Irvine 500 bbls. daily at $2.05 $374,125 annually
WeV Virginia 65 bbls. daily at $2.60 61,685 "
Gasoline! at $500 per month 6,000
Total present gross earnbiga , $441,810
Coat, including operating and office expenses and 4
interest on outstanding indebtedness .,,,.....,. 37,200
Total net earnings $404,610
23 paid in dividends
since -April 1st, 1916 (
The present earnings are equal to 66 2-3 on the Company
600.00Q shares outstanding, or more than 20 on the present market
price of the issue. ,
The stock is actively traded in on the N. Y. Curb. This new
property should make it worth at least $6.00 per share sola y
terday at 4.
Watch today's market
No better opportunity for an advantageous investment can occur
even in this record-making period.
Write 'Phone Call tor full particular
E. H. CLARKE
Investment Securities
Morton R. Alexander
(Resident Partner)
Phono 1149 Spruca ':
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