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fiYBKlNG LBDdEIPHHiABBLPHIA, TO-DAY, KOVBMBEB 21,
1, , Lq , - - I lM ' ' - "?
1016
FINANCIAL NEWS
?.
tv
READING IN STOCKS IS ACTIVE,
WITH IRREGULAR PRICE MOVEMENTS
Peclines Are Forced in Many Issues at Frequent Intervals.
Guggenheim Interests Deny Arranging for
Consolidation of Copper Companies
NEW YOnK, Nov. 21.
Trading vma extremely active all thrmiRh the day on tho floor of tho Stock
Kxchnngo, but prices moved In an Irregular manner, with tho trading olemont
finding opportunity to tako a prominent position In tho market on tho hear aldo
and forcing declines nt frequent Intervals In many Issues.
Tho first Incentive for trading camo with the denials of tho auRgonholm
Interests that they havo arranged for tho consolidation of Konnecott, Chill and
Utah Copper. Storks that this arrangement had tiecn mado woro used with tho
ffoct for sovoral days In forcing advances In tho ooppor stocks, although those
Who understood tho situation nt no time believed that any combination of these
oompantes would bo effocted. Nearly nil the copper shares decllnod 1 to 2 points
In tho early trading, and tho weakness In this group for a tlmo caused lower
prices In tho list ,,
- Then there wnro Independent movements, on ono of which Unltod States Stcol
common moved up 2 points to 129, and thvro was a short display of strength
In tho sugar stocks, with Amorlcan Sugar Refining moving up 8 points, nnd
American Boot Sugar and Cuban American Sugar both mado advances, in tho
afternoon tho market again showed a heavy tono, with recession)! from tho mid
day prices in ordor.
Central Leathor responded to the declaration of tho additional dlvldond of 2
per cent with an advance of about 2 points to abovo 114, Groat Northorn Ore was
& strong foature throughout tho day, rofloctlng accumulation by strong Intorontn,
who bnsod tholr operations on tho strong position of tho company In tho oro trado.
Fart of the buying was based on tho oxpectod advanco In tho prlco of Iron uro pf
91 a ton for tho coming season. Corn Products was exceptionally strong, advanc
lng mora than C points to abovo 27. ""'
Thoro wero heavy transactions In tho bond market again today, with the
convertible Isauos the most octlvo feature. Chill Coppei Ts woro tradod In In
large amounts, selling from 144 to IV and then rallying to 115. Southern Paollla
Issuos woro also heavily traded In, but without much change in price. American
Bmelters Security 6s advanced from 119H to 12214.
Central Leather Declares 2 Per Cent Extra Dividend
NEW TOIUC, Nov. 21. Tho Contral Leather Company has dcolarod an oxtra
dlvldond of 2 par cont on the common sjoclc, payable Docembor 30 to stock of
record December 1, and tho regular quarterly dlvldond of 1 por cont on tho pre
ferred stock, payablo January 2 to stock of record Docombor 9.
Lalto Copper Sells at 35 Cents a Pound
NEW TOllK, Nov. 21. A salo of Lako coppor has boon mado at 35 cents a
pound, a new high rooord prlco, and an advanco of 1W cents a pound over tho
previous high lovol reachod last week.
NEW YORK STOCK SALES
Alsx nabber
Alailcd Gold M .
Alaska J GoldM....
Anis-Chalmors Mfz. .
Am Ac Chemical
Am Boot Sugar
Am Can
AnfCan pf IK
Am Cards Fdy 70U
Am Cotton Oil 52H
Am Cotton Oil pf 102
Am Hlda A Loather 17M
Am Hldo & L pf 75
Am Ico Securities 28H
Am Uasood 23
Am Unseed pf 62
Am locomotive 01
Am Locomotive pf 108
Am Smelt & Ret 121
Am Steel Foundries 71H
I.nnt
close. High. Iow.
7 mi 73K
12)f 12W 12K
8H 8H 8)
32K S3 32K
88K 60f 88M
102U 107JX 102)f 107K
03M G0 G-W 05
111H 113W 113H
77H 75M 7S"f
3 00
p m.
73i
12!f
8H
.13
89
C2
100
17H
76H
28H
2lii
C2J.
03
103'f lOSJf 10SK
12.IK 120 122U
72H 71 71M
2
100
ism
77U
28W
21K
63
91
ca
100
17K
77
28H
2W
53
03
Am fiusar Itoflnlng 117K 120H 117 118'f
Am Tel A Tel 132M
AmTob pf now 107J4
Am Woolen 63!
Am Woolon pt USIi
An, Wiltlug p pf. . 71U
Am Zinc L & Sm C3)f
Anaconda Cop If 10-1
Associated Oil 71
Atch Top & S F.
AtchTop ifl Fpf...
132H 131H 131M
108Jf 103W 10SJJ
63H 62K 63
08ji U8H 08H
74W 71 7UW
MK 01 02
10JU 102 102Jf
71Ji 71 7141
.105J 105J 105W 105K
1O0H 100M 100H 100))!
72
85
80W
080
83H
71
20
25
55
AU Coast Line 12-Uf 125M 124JJ 125H
AU UUU JIs W 1 120K 122 120 123
Atl U & W I pr 72W 73
BaldLocoWkJ 87H 87M
BaltAOhlo SOJ, 87
Bethlehem Steel 700 089
BrooUyn Rap Tr 85 84M
Butte & Superior 72H 72H
Bntterlclc Co 20 20
Cal Petroleum 24 25((
Cal retroluum pf 62H 65
Canadian Paclfhj ..173)f 173
Central Loatnar 112JJ 114
Chcs & Ohio OS 07K
Chi a rest West 14M UH
vai ateat West pr 43U 4Uf
urn ju g i ir 1U5
ChlM i St P pf, 125
CM & Northwestern 128
Col Gas & Klec -17H
Chi It I&I'ac 33U
Chllo Copper 3-tti
Chlno Coppsr... ........ 70H
Col Fuel it Iron CO
Corn Trod Kef 22M
Cora Tro lief pf 100M 109M lOOJf 100k
Crndblo Steel OIH 01M 83) 88H
uuuan-Aja dujit S1UH JM 3J7 230
Cuba Cana Sugar 71M 73H 70J 73Jf
72
85
80U
080
83H
71
20
24
62i
172W 172k
111K 113H
07H 07
14H 14k
41 44k
01M 04
125k 125 125k
127k 127k 127K
4SH 47 47k
3-k 32k
31k 33k
09 00k
63 60
22H 37k
94
33k
34k
71k
00k
27k
it a-oo
cloao. Illah. t-oyr. p.m.
Heading 110k 110 108k 108k
Heading 2d pf 40k 45k 45k 45k
Republic- Iron & 8 91 Oik 89 90
Seaboard Air Line pf.... 33k 3'Jk 39 39
Shat Aril Cop 35k 30 35 .'15k
Slois-Shof S & 1 89k 88k 87k 88
South Potto R Bun PI..120 120 120 120
Southern Pacific 100k 100k 100 100
Southern Ry 28 28k 27k 27k
Southern Ity pf 08k 08k 08k 08k
St Louis ABFwl 23k 23k 2354 2.1k
Studebaltcr Co 121k 124k 123k 123k
Tonn Copper 21k 2tk 21k 21k
Toias Co 233 211 237k 238
Third Avenuo 49k 50k 49k 49k
Tobacco Products 63k 64k 64k 5 Ik
Tol St L & West 8k 9 9 9
Twin Clt It T pf 127 125 125 125
Union lias A Paper Ilk 15k 15 15
Union Hag & V pf SOU 80k 80 80k
Union Hag 4 P now ...120 122k 120 121
United Fruit 102k 02k 102 102k
Union Pacific 149 149k 148k 118k
USOIP&F 27k 27 27 27
U 8 Ind Alcohol 137k 137 137 137
United Ry Inv 12k 13 12k 12k
united js InT pr. 20 27
U 3 Rubber 03k 08
U S Rubber 1st pf 11,1 A113
. SOklTSI
. 61 61
127k 129
20 20
03k 08
112k 112k
70k 79k
61 51
120k 127k
V 8 em R & M
U S 8m R & M pf . .
US Steel Corp'n....
U 8 Stoel Corp'n pf.
Utah Copper
Utah Securities 20k
Va-Caro Chemical 40k
Va Iron Coal & 0 00k
Wabash 15
Wabash pf A 57k
Wabasb pf II SO
Wells Fargo Eip 138k 139
WeitE&M 05 04k
West Union Tel 101k 101k 101k 101k
Wheel & Lako Erie 2k 2k 2k 2k
White Motor 64k 65 51k 64k
Wlllya Oterland 38 38k' 37k 37k
Willys Overland pf 09 98k 07k 07k
.1201 122k 121k 122
.120 120 12-1 J i 125
21
48k
COk
16k
67k
30
20k
47k
00
15k
67
29k
130
21
47k
07
15k
57
30
130
04k 04k
WHEAT REACTS AFTER
FIRMNESS AT START
Cuba Cane Sugar pf.
Del Lack & West....,
Sen a Rio Or pr
Distill Sec Corp'n
Erie
Krla lit pf
Erie 2d pf
General Kloctrio
Goodrich B F
Granby Cocsol
Great Northern pf
O N cfs for ora prop..
Greene-Cananea ...... .
Gulf States Steel 104
Qnlf States a 24 pf 163
OSk OSk 08k 08k
.ia 238 238 238
40k 47k 40 40
42k 43 42k 43
37k 38k 37k 37k
. 63k 63k 62k 63
43 43k 42k 43
183 183k 181k 181k
70k VOk 70k 70k
.113 113 108 110
.il7k 118k 118k 118a
0H m 40k 40k
D-m oo o4
103 105
107 .107
Profit-Taking and Drop at
Buenos Aires Partly Respon
sible for Declines
Illinois Cent 105k 105k 105
64k
105
107
105
71k
25
65
18k
74k
07H
Insp Con Cop 73k 72k 71
Int Agricultural 21k 35 24k
lot Agricultural pf...... 60k 65 64k
Int Coo Cor v t o h... 18k 18k 18k
Int Con Corp'n pf 75 74k 74
IntFaper oak 08 U 'H7
Int Paper pf 105k 105k 104k 105k
Jnj Nick Tt eft 47k 47k 47k 47k
Int Mile of dp ifik 48k 45 47
Int M II Pf 0 of dP.... 119k 120k 118k 118k
Kaa City Southern 2ol sat.. "A 9ii
Kan City South pf ,60 60 60 60
Kelly Spring Ttre 78 7 77 77
Kennecott Copper, fllk 61 60k 60k
Lack Steel Oo 105h 105 101k 103k
laeledeGas 113k 114 m m
Leo Rubber Tiro.,, 40 40k 40 40k
Lehigh Vadey ., 83k 83k 82k 83k
Loose-Wiles IilJ 1st pf.. 85k 88 86 80
LouU&Nash I35k i35 135 135
&cka?. ?? pf M H e5H WH
Mrwell Motors., 7a 70 75k 70
Mai Motors Ut pf...... 81k 8211 83 83
MM Motors 24 pf,... 60 60k 60k MM
May Dept Btorea 65 66 64k 66
- Mexretroleum ,....110k 113k 110k 111
Mlam Copper , 48k 43 47k 47K
uiuoium icji ;aj 33 33k
MoPao w. ......, 27 27 20k 26J
Missouri Paclflo.,.,,.,. 10k 10k 10k lQk
IfoPaatrea .. ioj, 10k 10k 10k
Montana Power ,.. 07k 08 OS 08
rNat Biscuit .,.,122 123 123 123
iNtEnamSOc-pfI,.l00k 10O 100 100
NIadCo. 63k 69k 69 60
Nit Lead Go pf. ...... ,113 us m 118
-nerunup ,.,,,30 31k 30 30k
ifetr York Air Brake. .. .183 184J 183 183
? York Central 108k 108k 10754 108k
NVNJl&H. 60 r69 59 69
f.0 Western 141 J41H Ml Ml
North American , 69k 70 69W 70
Northern Pacific U1H Jlltt J0 UOk
Ontario BUrer Mia fl 6k 6k 6k
me iu. ZOk 2Jk 28k 26k
Padlte TU Tel .36k 36 36 88
Jaa-AfiiPet4Tif.. . 98k 081a OSH B8i
BenaBaflioad 67 67 66k 67
PAtthMphjaCo 43k 41k 44 44
SiISaJ,y,f,,?J M 42 42JI
W?tCoa:&i.D.d,- 109 imi ww io3
Wtetesa gtet pf . .. J04k DSM 08M OSk
ftewad Steel riar g5 sg,U UH SSj
twt Strf Cw pf . 10 H 103 405k 103
(HWH8J 134k 138M I33H 133k
a fttt-M. lo4 41
ms
CIIICAao, Nov. tl. There wan a re
action in the wheat market today, following
flrmnoes early, but last prices were nboa
the bottom. Trade was on a liberal bcaIo.
There was considerable new buying In the
forepart of the session, Including some for
export houses, but yesterday's purchasers
took proCts on a (tood scale. In fact, tho
leading commission house had a supply on
tap on every bulge, and this was taken as
an indication of the elxstence of a bearish
feeling in some quarters.
The market at Buenos Alms lost 2n. nml
this was responsible for some of tho selling
here. December nnd May went bolow yes
terday's close, but July was kept, above the
llnal quotation of yesterday throughout
Congestion was reported from "Winnipeg,
where exporters were said to havo been
good buyers.
December sold as high aa J1.8SU and as
low as 1.80". finishing ut ll.HHOl.llla.
compared with I1.83U at the end yester
day; May sold up to J1.90U ancUdown to
II.ITK, closing at Sl.S8tt9fl.ag, against
11.88 H yesterday's last price: July rose to
Jl.SO and declined to S1.68M. ending at
fl.68K0ll.58tt compared with fl.58 tho
final quotation of yesterday.
i;uin juiuns ranna m followis
Wbtat
Daa
Mir.
"V
pen
,7 1:1
. , i.m
t".
a
ii
88 '.
com qtw dal
e
erti
8th
Da
Mar..
July..
Oats .
Pw...
r..
Deo,., less
Jan.., le.JS
Mar. . 18.40
itlbs
Jan... 14.83
Soy., ii.75
n.o... 2T.25
jn. Jr.ea
, i.eo
lH
Low.
l.UOH
1.87K
isii
TfiM.v.
Clo, clo.a.
i.e.
1.08
U Sit:
18 5
10 (
OS
ea
l.Mtyi
1:SS
fl
VOK
u
I S2
le.oa
14 83
14 80
iT.W
3T.1T
18 70
ie.a!j
1.88
1.S8
Bli
on?
Blt
asS
less
14 es
14.70
ii Vo
27,43
14 14 85
14 S 14.79
2T.80
7,t
ST BO
2T80
ST.47
.80
3T.B0
dar
tales'.
NEW YORK COFFEE MARKET
NEW YORK. Nov. 21 The market for
coffee futures opened steady today at a
decline of 2 to 4 points., Trading on the
call was quite active, sales amounting to
Toda:
. opa
Pmtr ...,.,.y. 8.0508.19
January ,....,., ,,,8.10
""'"1 .......... ........
March .,.,,...,. 1208.83
April S.lo
Mar 8.4398.45
Ju?
July 8 B4 9 8.88
Aucuat .,., M.59
Stpumber , , 8 6008.69
SSi
laid.
TMttrday'a
clou.
8.09OB.12
8.1008.13
8 1808.1S
8.28 08.37
8S40S33
S a04HS.il
8.4
8.92
8 BS
8.83
gas
8.79
8.4T
8 B3
8 ca
8. as
8 TO
8.7T
The third New York Cotton Bxohanga
rnftmcersMp ox J. T. Manas ma been sold
1 ' 1 - i
New York Bond Sales
r Ar lob e ...lOjM I0j,, 1JJ
er illde 1. 0..,tOlH, lojjt 10;
Vorfhrn Ho Bi.... H8i MVi. .6
11000 Adunit Kspre 4
BWI AUikR, O cv 6 8r
-lyw iimw awt cv. o
m,vv yvmr
80OU0O Anslo.
.16WIO Amur
mWOUAm Forflrn
800UO Amisr Hmelt 8o Oi
JBWJO Amr Writ I'fp 61
jtouv Atchleon. sen U ..,,.uS
2W0 . do cv U loSB ...,,,1Q5
Snpflo Atlin Co line lot 4.i
.ww tnu a vnio ana i,.w
??"W do fi ,lyl
juuin; .Jo 4 .........
IISOU do cv 4H ....
,4U00 BO.!' LB4WV 4a
jyuvu utn 8ti in
Hlh. lVew. 8 pm.
v m m m
...1US., 10) 103
it vp is.,, iu;
;a 4 .,,, in
98
Ba.i.,104
litfM 1
SlK pi i
illl ..ill
101 101
(I UO 94
8 88
tni ini
jyww iirooK vn uai 11 os iui iui ivt
iow) can Oovt Ds 1B21 ...106 M., 10U..
i II II
do or 4Un
son 4W
y" w ivai ....... i.
vi'OT i.al uan a, lo s .
.8000. Cent lnther Jt B
.JOiiOD'Cont till N J 8a ...
t!l2O0i) Chill Corpr t
8000 Chto) A Ohio CV 4H.
BUUU do 4'ia
8700V do conv Ba
H00O Chl A U III 4a .....
14000 Chl (It Wat 4a ...
78000 O Jl Q Joint 4a ...
1000 O M 4 St 1' dlv 4a.
juuu no cv na
JlfUlf
I UOO do
nnon ri.i n r t. i i.
&7UIII) dorM 4a 78
4000 drf B 71
414U0 do Ark iVtt 74
A-'OOO Col Midland ct 4a. . 17K
8000 do 4a .,..., 1JK
17000 Pol A tiouth 4 i
406(l City ot l'arla Oa ... 9H
4000 Con Una CV At. ... 12BU :
2GO0U Den t R U l filH
0000 do rfd Ca ...... 71
0000 D.trolt Kdlaon fia '8S.104H :
16(100 Uftrolt Unll.il 4Mb ., 84
1000 I)Ia Sfcur Corp Ba. . 71H
2000 11 T V U con 0a..lO0H :
looon Krlo san 4a 74 fa
B000 do or 4 Bar 11 72.,
44000 ilo prior 4a 84ft
10000 Oronby Co Oa 118
nzooo do Ma nt nit .. ;
II ono til Htrel dob 4Ha... OSU
1000 Ioua Ccntrnl rel 4a.. 00
2.1000 III Cent rM 4a 2
r.OIJO do 4a 1933 88
23000 Intcrb It T raf 6a .... 9H
7.W00 Intar Mfr Mar .... 97
.1000 Jaimnfin. now 4Ha... HH
:iooo K H n a a M 4a . .79
InoilO I.nckn Ht.1 Ba 1D28. lot 1
102000 do Ba 19B0 108 1
lomi I.nclctlo Una lat 0a...lOIH 1
100O l,k Sh deb la 1928.... flO'i
Uooo do deb 4n 1U31 UH
1R000 U A M T Ba lVlVi 1
i'OOil lAinir Utand rfd 4a... 89
40nil Lnrlilnrd fia 102 1
B000 do 7 127.. 1
1000 M K i T lit 4 7U
10000 Mo I'ftO w I 4a . ...Mr
roOU do cv ct atn. Ba, , ... B1
WllOO do col 2d Ba 1917. 101 , 1
.2000 Mont I'owcr Ba UOK
14000 NAt Tubo Ba 102 1
1U1HI N V Air llrnke cvt Oa.lOll , 1
20000 N Y U A Hud fla ...118T4 1
2IIUO0 do 4a 93
.1000 do 4Via 11.-
1000 do rnn 4a ... DlSji
4000 N Y City 4a 1957 ....10iW 1
1000 do lllllO 103W j
2000 do 4Vta 1900 10.1 1
0000 do 4V4a 1901 104H 1
1IUIO0 do 4fta 1U03 11(1 1
liooo do 4(5 a May 19B7..110., 1
r.lMIO N V (Inn II A r Ba.. 10',tt 1
loon N Y Larkn ft W a 107W 1
8000 N Y N It A II cv 3Ma nsti
1000 do (la 1I2K 1
0000 N Y Itwy ndj Ba .... Bl ,
44000 N Y Tol Ron 4Via.... 00 H
ar.nn Norf A Weat cv 4a.. . li,Ji
7B00 Nor Ibo irtor 4.. 9 IS
9001) cli) Ken .la . .. 117 K
200(1 do 4a rex 92H
170)n Krn Short I, raf 4a..
0000 I'nn (ins na
1000 1'nc Tel Ba ,
2J0OU l'enim en 4Ua ...
1001) I'uoplo'a (lua Ba ..
47000 I'ub Hcrv N J Ba...
00011 IteadlnK Ren 4a ....
40000 Hcpub Cubi Ba 1914.
j 1000 do Ba 1004
8000 Ilp Ir A H 9a
1000 Illn lr A W clt 4a
10000 lty fltl Bprlnga Ba '01
11)00 m I, I M A Ho 4a..
r.oooo hi i, s a r nja w i
B000I) do In vr I
21000 do Ken ct ata 4a..
2001) do Bar II w I .. .
flonn Seaboard A X adj Ba.
loooo do rfil 4a
1000 South Hell fia . . .,
loooo Houtli I'nc cv 4a. . .
liJOOO do cv ret t n 6b.
2(1000 do rfd 4a...
1000 South Pac Term
Kioo South Itwy Ecn
100(1 ilo rnn fia 10.
1000 Spnrtn 4a . ... 92U
2000 Term Aaao St U ref 4a KB14
loon xoxaa & l'ftc lai oa...jo(i
1NOOO do CV OB
nnnn Third Av, nill Rn
0000(1 17 H H A II (la.. . 111
.Ann TT a Tt.thK-.. fl- IMTi
2B3IHIO U H Steel Ba .. 'l07H
194000 U K of Ot II A I Ba.00 1-10
loooo union rar lat 4a...
BOOO do rv 4a
7000 do rfd 4a
1B000 Vn. fla Ilrown Jlroa,
loooo Va Car Chm lit Ba.
4000 Vn Itwy Ba
fiOOO Wnhaah 2d Ba
8000 Weat KlKtrla Ba . ,
80000 Weat Md lat 4a.. ,
r.ooo Weat Shoro 4a., . .
1000 Weat Union Ba ....
8BH
..
100H
""
lOJ'l
811
10 J
J27
7R'4
iin
BB
llll.
tins
10(1
unji
05.
7 i
7B;
10BJ1 lftHi 101S
ii1? sis? M
2 102
0 91)
OH 00H
7 B7
10
10
0
09 0
II 4 H 0
1)1)1 9
B8H B
100 0i
99K 00H
100 100
102U 102'4
7B 70S
92 02
101i 101G
Henry A. Lumb has applied for mem
bership In tho Now York Cotton Exchange.
A November
Investment List
Sixteen high-grade bonds
Yielding 5.09 to C.75
Eleven short-term securities
Yielding 4.70 to 6.37
Ten preferred stocks
Yielding 5.05 to 7.70
make up our November
List of timely invest
ment suggestions.
Ask for a complimentary
copy of this List No. 2542.
William P. Bonbright & Co.,Inc.
MORRIg WISTAR STROUD, Jr.
Man war
437 Chestnut St., Philadelphia
BoaUa
N.Tf Tark
Aoauan
William P llonbrlaht A Co.
Datnll
PaHa
Ponbrlaht A C.
COPPER ISSUES WEAli
ON NEW YORK CURB
Standard Oils, Motors and Mfd
Vale Steel Arc Among Others
Recording Declines
NCW YortK, Nov. 21. Trading on the
Curb all through the dny was Influenced
to a great extent by the manner In 'which
prices moved on the Slock Exchange.
There woro generally lower prices for 'the
copper group, with Cerro do Tneco 4ropptng
2 points to 44, nnd United Verde Extension
declining more than 1 point following the
lead of the stocks whloh were supposed to
be Included In the disputed copper merger.
Denials by Guggenheim Interests that n
morger Is In prospect caused the liquidation
in Cerro de Pnsco, but other stocks which
were not supposed to be Included In tho new
consolidation wero also weak, Including
Howo Sound, which sold down to 8 nnd
Dutte Copper and Zinc, which declined to
10H.
Tho oil stocks wero Irregular, with the
Standard OH Issues for tho first time in n
long period showing a receding tendency.
Standard Oil of New Jersey sold down to
C7S The Independent oil stocks wero In
good demand, however, with Wyoming Oil
selling nt A, a now high record, on the an
nouncement of tho perfection of tho plans
to produce gasollno direct from tho heavy
gravity wens.
INDUHTIUAL3
Atn RxvIoalTea
Amorlcan llrltlah Manufactures. ,
Amf rlean Marcnnl
Canadian Car Company ,
Canadian tar nnd Foundry prof. ,
Chevrolet Mntnm . . . .
I'urtlaa Aeroplane
Did. Aakrd.
10 10'i
rimarion t'honoitranh .. ...
lienae Manurnciunna ....
Kathodlon llronaa preferred
I. aural Oil nml Oaa ,.
Mailm Munlttona ,,.,
Manhattan Trana
MldvAlt meet
Otta Illavator
I'eorlesa Alntora
va
rlesa Alntora '22
I'liole Hnslne Km
n n lirfaaa w l rii
HtnndArd Motors V&
Huhmarlna , i'
Trlanaln Film , avi
llnlc.l Alloy Hteel r,l(i
llnitf.l Motora .., (JlH
United Pront Hharlnv 1
United HIMta I.Uht utnl Heat com. 2
do prfferred u
World Film 1
MIHCi:t.I.ANi:0Ufl
Hock taland common !thlL
do A pref H8
do J) uref lui
HTANDAltD Oil. STOCKS
Illinois SIO
Ohio l. 81)7
rralrle ripe , 331
Htandard ull of ("nllfoniia .180
no r.ew jeraay ono
do Now York son
OTiu:it oin btouks
Toaden Oil 11
Cosden A Co w 17H
Inter Petrol ... 114
llouaton Oil 181i
Mldweat Iter 7V
faapulpa Hot UH
MIN1NC1 STOCKS
Atlanta 7
jiuiio i;oppor & Kino . . , in'4
iiutt n y rw
. 44
. A
. SO
k
. no
i
I ot
. 4
,i:s
.0811
.100
vti
R5
18?
p14
no
lir.
u-;-i
- ., I. . , I .1 ...
Sales in Philadelphia
. .... . XIIi. I)C
Ifl AIM Innur. lu 1091
8 Acmo T pf
tc ..... OJW 07H
100 Am Can ., ASH OSH
to Am C & P 70 1054
100 Said Loco H5H 3H
DO do pref 00 60
40 Drill J O,, 87 SI
100 Cub C Sdg 714 7l"4
40 Cam Iron. 4S 43
1ft Cam Steel ISO ISO
SSOO Corn Prod 27 H 28 W
so Cruo Stool oo 00
4 Catnwlssa
1st pref. S1H 3Vi
24S nico Stor. 00 00H
000 Etio .IHVi 9
110.1 Q Asphalt 3H 3lVi
00 do pref. 72H 72
82 Ins Co N A 27 20V4
ISO Konne Cop oo V4 on
4001 Lako Sup 20 tr(,
117 Irfh N.iv.. SOH "OH
20 Loli Valley 83 83
10 t. VTr pt. 43H 43H
1S70 Nov Cons. 81 30
401 Tenna U It 87 SOH
30 I'u Salt M PDH DOH
1373 I'hlla Klec 30H 30
4S20 P II T t 0 20 2AH
100 I'hlla Trnc 80 SO
00 Hay Cons. 34 H 33ft
ISO Hep I A 3 DOH DDH
103 Hooding ..109)4 lonH
10 So itwy .. 27 27
S0IO Ton Bel... 4 4
IDS Ton Mln.. OH OH
108 Un Trao .. 47 4BM
80 IT O I ... Oltt 01H
Net
Cleaa. chrta.
10 Y
07H W
flSH
7 W
SSH
oo
1
H
. , .
5
37
711i
4S
ISO
7H
00
in
SSH
00 H
3SH
SH
72H
"
1H
1H
20H 14
00 H i
2SH H
80H
S3
43H
81
BOH
DOH
80
2SH
80
31
h
H
1
14
174
DOH Tfc
108 2H
27
iii 14
OH
4014 li
D1H
Cernr do l'aaro
l'lrat Nutlonal
Florence Uoldfleld . .
(toldneld Merger
Hecla Mlnlnr
Howe Hound ,
Jim Ilutler
Jumbo Ix
McKlnley Darrasli ...,
Mlnea Co of America
Nlptaalns;
Ok n Toy .
Ht Joaenh Lead
Weat J2nd Con
Whlto Oaka
I10ND3
Cerro (la ...
Mhlvate Kh .
Huaatan (IJ4 fl
U IC BV4a 3-;
ao otiis.
6-yi
081
'A
U
2S?S
71
21 r,
ao.i
aio
383
inn)
273
lft
'.'(
Nt
UH
0
1(4
r.W
i'4
Bit
10
m
4'i
127
IIHW
1(I0
IIO'I
U3V4
102 102
82 82H 14
10SH 103H H
loon no It
87H B7H
Granulated Sugar Unchanged
NEW YORK, Nov. 21. Tho Federal con
tinues to quoto 7.76c for fine granulated ; nil
other refiners, 7.50c. Tho last sale In Bpot
Cuba raws was unchanged nt G.40c.
Money for
Travelers
THOSE who contem
plate travel, either in
this country or abroad,
may obtain from us Let
ters of Credit or Travelers'
Cheques which can be
safely carried nnd easily
cashed in any part of the
worlcf.
Philadelphia
Trust Company
418 Chestnut Street
1415 Chestnut Street
PHILADELPHIA
ttiramnrafflmnntin
IB Un C N J.22SH 22SH 22SH H
018S U S Hteel. 120 127 121H U
80 War IAS oa; 0 0
210 W Jer At S BO 80 80
128 Westmore
land Coal SOH SOH so
1020 W Cramp. 03 00 02 H
loo York Itwy 15 M is 1
ItONDS . . Net
High. I.ow. Close, chie.
12000 Allegheny
Vol 4s.. 07 VI 07 Vi 07H
7700 A 0&i:i Cs 00H 00 00H
3500 City ISMC
rcg ....102
7800 Klco & I'eo
Tr 4h .. 82H
iooo i:iuit in
Gns CB..10SH
0000 ndls Kl tin 1 10
iooo Int rtys 4s S7H,
xuuu iioy r jut
Ba 08 08 OS
6000 Lk aup Ino
Ci 40 4SH 4SH
1000 LcllNcont
4 4b ...lot?',
do gen 4s 01 01 01
do cons
4 ',4s '03,10074
Pa Co gen
I ',5 s ...102T4
do cons
4Ws ..
2000 Pub Serv
Corp Es. 02"J4
6000 Phlla Co
cons Ch. d
10000 do 1st Gs.lOlH
30700 PI) Eleo 4s OBH
2000 do 5B...100H
3000 Read gn 4s OS1),
3000 Spanish-Am
Iron Gs.,102
2000 Un Hwy
Inv Es. . 764 75IJ4 78
2000 York Itwy
1st Ba .. 08 08 08
1000
10000
0000
21000
102 102 H
Y
100T4 100T4
102?4 102T4
ioo looyi ioo
02'i 02
02 02
10IH loiH
08H 08H
10I1H 100H
0B(J4 0S
102 102 4
H
Bond
Investments
Government
Municipal
Public Utility
Railroad
We are prepared to offer
j forfttlTef consideration of
'banks, bankers, trustees
and private investors
carefully selected issues
of the most dependable
kind of high-grade invest
ment bonds.
Inquiries are requested
HANKERS
(Established 1837)
321 Chestnut St., Philadelphia
Pittsburgh
liosion
Chicago
Wllkea.narra
lleadlni;
Tax Free in Pennsylvania
Federal Income Tax Exempt
Borq of Archbald, Pa.
Funding and Improvement
5s
Matnrlnri
810.000 Aus uat 1st.
ilO.OOO Auiust lai.
1028
1031
A. B. Leach & Co.
115 South Fourth Street
fan- York . Chicago nuffalo
IJoaton Ivondon. Em, Daltlmora
KOTICK Or MUIiTLNO TO 1SSU13
ritlC.ll.Hltlill STOCK
NOTICE IS llKHJLUy U1VKN that on the ISth
dar ot December. 1U10, at 10 a m , the Slm-lc.
holdem of the 1IM)I:)IVI1 nVirif V.,V..S,
.tin MmtTiAm (viiiniwv - .. Vf.A
...' ...M. ... UU.. .. .1
ine outte o( ft
at ine princr
North Ameri
ia.. it. v.ia K"'. ul x-uiiuueipnia. lor tua our
coaa of considering; tho advleablllty ot Issulns
amount ot Twenty Thousand Dollars (120,0001
and to Issue the aald stock It a majority in In
taraat ot Iba stockholders shall consent thereto
PU1LIP aOLDICH.
.. Bscratary.
i. turporation ot
;nnayivania. will nold a meetlna
pai once or aald Company, at Bit
ton Uulldlmr. liroad and 8anaora
niVllJENDS
TIIK AMERICAN OAH COMPANY
101 Morket at . Camden. N,
A juarterly dividend of 2Seor?ss"per"nSr.)
has been declared on the. capital atork or thla
company, payable llecemher 1. 1010. to the
atockholdera ot record at 3 p. m. November "'
1016. Checka will be mailed "moor
J. II. TOWNHENI), 8d, Treasurer.
DIItECTOBY OF ACCUUNTANTa.
Certlfled Tublle Aerountants
UA.WRENCH UHOWN A CO
ISIS IIKAI. KUTATH THUBT UUlLDINa
$250,000
COSDEN & COMPANY
j
on 60
First Mortgage Sinking Fund Convertible 6 Gold Bonds
Temporary certificates exchangeable Into definitive bonds
Dated October lit. 1916 Due October Irt, 1926
Authorized $6,000,000 OuUtandlnffJ $5,753,000
Callable ta a whole or in part for the smUng fund at 105 and accrued interert
dayr notice. .
. Convcrtibk irta rtock at $18 per ihare up to maturity,
A Moting fund amounting to 10 per annum of the total amount of bond issued or 20
ci the net earning (whichever amount ii larger) it used for the purchase of bonds at or below
105; if not so obtainable bonds will be called by lot at 105.
lie bonds are secured by first mortgage on all the property of the company,
$2,174,202.
4 $345,180.
t
SEVEN MONTHS earnings-ending July 31, 1916
ANNUAL Interest Requirements
PRICE, 105 and accrued interest. V
tk$ctlpUee circular on application
TugeneMeyerJr.&Cd.
14 Watt Street
NeutYerk
" loflSS IBrrr """ " rfff r Mr 'W Wkl.PP' or uwtra tw JW00,
Mini mmTy ' 4r" ..swrsmsR 71 " aSISi
"" " BSB I I milUM a. , bml&JkikK20IM& ipfca? zlS- - -W afferrr - "frgBf sfi-j JEfTS W
iifflHMf'uI... ' WfetS.Mfc--ii-- ' ' ' ' ' ii'iVniii i'' irnhii 1 1 1 b-' i jir i--'-Aiirrrt ftjsfrit ' ' ' r " " r fp .-:J',TnrKLfTST7i;1T.a;1 ' Jnai''V1' rtl!!tgLftn ', M":';',.7 - T ' tiT ifff
r
LAKE SUPJERIOR COEPORATIOK Snn.
IS MOST ACTIVE ON LOCAL EXCHAg
Price Declines Cramp Shipbuilding Moves Up, but pJ
Later York Railways Company Reports
uooa vjctouur earnings
hll trndlns on tho PhllndelphU Stock
nxchango was hot na ncllve tlurlriK tho
.... ...... -- . i.A .1... vonterniiv.
ftcaaion touay na i"r' v.u j ;, , "
yet there wero some Issues In which n
fair nmount of Interest wnn shown. Move
ments In prices wero decidedly lrrcBulnr
throughout llio whole season. Most ot the
Interest, ns far na tho local Issues was con
cerned, was In I.ako Superior Corporation
stock. That Issue, however, except for a
short whllo In tho early session, was n
fraction under tho final of yesterday.
Tho movements In Cramp Shipbuilding
attracted somo nttentlon. That Issuo nt
one tlmo durlnff the early part of tho day
sained Hi as compared with the finnl prlco
of yesterday, then declined to ono-hnlf
bolow yesterday's close, and recovered tho
loss In the afternoon, ending; tho day one
half higher
Philadelphia Clectrlo stock sold tip a.
fraction In tho first hour, lost tho gain nnd
then recovered. In tho bond division tho
company's 4 per cent bonds wero far nnd
abovo tho most active, changing hands at
38'4, unchanged from yesterday.
ln tho nrbltrnBO group United States
Steel common held tho attention, nt ono
time selling up to 12D, or within n fraction
of the best prlco touched hero yesterday.
Nevnda Consolidated wna a weak spot In
this branch ot tho mnrket At ono tlmo It
nhowed a toss of mora than 2 points, but
somo of this was recovered,
Another favornblo cnrnlnga statement
was Issued by tho York Hallways Company.
Financial Briefs
Announcement was mado today of the
purchase of n scat on tho Philadelphia
Stock nxchango for J3800. This Is tho
highest price paid for a scat tills year nnd
J0O0 moro than was given at tho tlmo ot
tho last previous sale.
Tho New York Subtrcasury lost S2.242,
000 to tho banks yesterday, mnklng n cash
net loss since Friday of $1,496,000.
T. . ..- 1. . .
.:"..:-. ra1 . M m
S47.S13. For eleven tnMHsg
J872.112. a gain of Mmi .J?!S
for th. same period rose iiM
iiu.isi. uaianeo after all ,.i..L "A
eleven months was U7I 27J P to S
73,48B, or 70.1 per cent ' Iac"
IS
3
Voting TruRf.
A brief discussion ol the pj
posca and operation ol Votlsl
Trust la lnlj ,. " V0Ua
November Circular
ino circulor also descrtJ
"" "uu, ouerinj
Investment Income
Ranging From 4J4 to
uver oyfc
Cet will , furnUM f
Edward B.Smith &Co
EansLiantD Uii,
BANKERS
ifamtwr Km Vorh .
rMladtlphU, BchErn,
1411 CniatNor 8r. Pii,...
00 vma Bi.xrr Nw To.?
ilMoSneyll
j Ipr&ateU
I lloMtsaBAKtRH
iiiiiiiiiiiiniiiiiiiiiiiiiimuiiiuiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiifiif
The
Invisible
Machinery
of iho
StockMarket
IT is all very simple when yon know
how It is donrj despite the popultr
impression that "behind stage" all U m
mare of Intricacies. The detail of service
between broker and customer Is exten
sive, but the processes are as simple at
"two-plus-two." And If you nre Invest
ing or trading for pront, you owe It to
yourself to become fully Informed on th.
uincmncry oi Duying ana selling stocks.
A Booklet Library
of valuable and Interesting Information
on this unusual subject Is parVof the
Complete Service of Jones & Baker,
Stock Brokers.
A novice In the market can gain from
these five little books which require but'
t tew minutes to read knowledge that
even the experienced Investor has not ab
sorbed In a lifetime of trading. These
booklets have been much In demand by
banks and libraries, and they ore offered
to the Investing public without cost
Any or all of thost book leu dtarrtbad briaflj t
tie Jtft, ara jours for Ua tsklor. To Hum
fituof tt Information of craateat lateral t
you
Check tho Coupon Below
Indicating whatsier yon dealra, fill la roar aims
and addraas, and you will ba anpsUed by rata
nail.
J0HES & BAKER
STOCK BROKERS
omecr private wris conNtcrim
NetVVORIt-CMICAOO-BOSTON-PITTSBUaieB
fPG-fl I LADELPHBA
Wldcner BuildlnQ
r""". ..M.-Mnui low a
in.,d,wns. i.uC
. rfSVO
Oeaeral rtalca
for Trading;
Draerlblnf the brokfran
procedure In yonr baring
and aelllnz ordra andora
lac anj dsllTartng eertlll
ctt and Curb commis
sions (or sxacntlnc ordars.
Th Oram 0r
an Order
now yonr order la handled
after It leans yonr hands
boor It la entered the
proceaa of execution and
aystsm of recordlnr.
The Jonrney- otft
a OeHiricate
Where tbe stock yoa bay
cone from bow a certlfl.
rate la properly transfer
red to your nam why
delays occur what a berd
lot la.
Oarrjrlnc Stocka)
on Account
What a tradlnt anxrant Is
Ita adTantarea what
conitltntea a safe per
ntto what beconat of
a stock bought on a trad
lng account
The fVorklnir VeUno
of Securities
now yonr Idle stocka roe.
sees a value orer and aboro
your money invested to
them and how to secure
returns oo noa-dlildend-paying
etocka yoa bold.
'JSrz -- ttM,lnfc t!
JSJIT
. of . C,',
. m. innrivf -. . kja inr-
' checked " UtV"Jm Bleo "
W" . M. lor Trn 0.&.
r.C.V'.-'S'rMWor"
l""XUi el " " vnMM TO
..
" ,
,
,Wr... r v-X-- "
ia
9sW ffi? fCaMfWSffil tjf vSMf Z. StSJ'
ank
m
!
National
Third and Arch Streets
STATEMENT
of Nqvember 17th, 1916.
RESOURCES
Loans and Investments $8,249,600.29
Duo from Batiks , , , , , , 1,601,188.77
Exchanges for Clearing; Houso , , . 639,750.00
Cash and Reerv , . , , 1.245,3.4.92
'$11,735,854.88
LIABILITIES
Capita! ,..,,....,., $500,000,00
Surplus and Net Profit. . . , 473,888.98
Circulation ....,.,..,,,.........,.,..... 455,197.5(1
Depo.iU , 10,006,768,40
Bill Payablo (Federal Reserve Bank) .... .... 300,000-g
$11,735,854.88
Lrmk N Spielberger, Cashier
ri
EJIg 5Sz -c,ai
VVJK I5f-.'diiOVvf&aji'aTBaltap "j rWr.SsSe?".--1 1
AftS,
mmwm&jmg;-mM&:,