,-Mi.ljp.Wn , Ti,-ni. MpgBB lit If; 5j t&t EVENING LEDGER-PHTDADELHIA, MOMiATT, NOVEMBER 27, 1910 FINANCIAL NElWS iJtMJt VLdALL MONEY REACHES 6 PER CENT IN WALL STREET, WITH HEAVY DEMAND i& -, i?l'Advance Is Preceded by General Galling of Loans For eign Exchange Market Pays No Attention to , Peace Stories, Berlin and Vienna Declining , r rr If NEW YOItK, Nov. 27. Cat money was in demand during the greater part of the day In Walt Btrcct, With a 4 per cent bid before noon, and during tho afternoon tho bulk of tho business was transacted at 5 per cent, the lilche.it rate 'paid Blnco last July. This Advance was preceded by general calling of loans, some of tho largo Institutions apparently putting Into effect a policy to curtail transactions In speculative Issues. lf Outside of the Exchnngo largo loans wero also mada nt 5 per cent and theso ,J; "transactions had a dlrcc! Influence In stiffening up tlmo money rates. Tho natural .'"' conjecture on tho Street was that nvailablo resources havo been greatly reduced by the foreign loans and by tho many new promotions and Industrial syndlcalo operations. Tho foreign loans, howovor, havo been well fortified by tho constant ship- mont of gold from Europe to this country and tho Allied financing has In no , Way reduced tho surplus reserves. Tho same thing, howovor, cannot bo said ' ' of tho many domestic undcrjvrltlngs of consolidations, which havo required Immense accommodations" In tho aggrcgato, and has left many of thoso who ' finance these schemes with largo lines of tho subscription offerings still on their t f hands. $ Wall Btreot business cannot bo held responsible for tho call money situation today, as nearly all tho leading houses horo havo reduced their loans In largo proportion. Lato In tho day tho rato forcall money advanced to D',4 por cent. There were many other factors which had a disturbing Influenco on tho apeculatlvo situation. For some reason thoso In clona touch with tho stock mnr hot operations assumed that tho Sunday newspapers' Rtorles about peaco efforts In many quarters had an Inspiration from tho Central Towers, and reference to what was designated as peaco talk was followed bv predictions that nrnrmlatlco would bo arranged before January 1. Tho foreign exchange market paid no attention to theso stories and predic tions, and tho manner in which foreign exchnngo rates moved Indicated that there could bo no basis for the Street Ideas. Exchange on Berlin nil through tho day was extremely weak, with relchsmarks cobles selling down to G7. ngalnst tho provlous low of 68V4 last Soptcmber, wbllo kronen checks on Vlonna sold at 11.73, a fall of 10 points as compared with Saturday, nnd putting th'o record Rt a now low level. X More Gold Comes in From Canada Shipment to South America and Spain NEW YOn.IC, Nov. 27. Gold bars to tho amount of $7,r.00,00O wero received from Canada, nt tho Assay Olllco this morning nnd deposited to tho credit of J. P. Morgan & Co. - United Stntes gold'coln to tho amount of $1,000,000 was withdrawn from tho Bubtrcnsury this morning for shipment to South America, fiold coin to tho amount of $200,000 wus withdrawn for shipment to Spain. Lute Saturday tho Bubtreosury transferred 1150,000 to Now Orleans and $500,000 to San Francisco. NEW YORK STOCK SALES I.aat close. Tllffh. ant mt I.OW. r-sjf 18 KH 12J 7 MM i)0H 00 105 mu 73 mt mu 70'f 27i 22!f 63 snjf 3:00 p.m. rmt to 30'f 111 Hit .Ift DOW 1)0 10.r, 03! 73 63W I0f 70J 27M 22!i 53 mn Acme Tea 'Adrnumcly IS 10U Adv numely pf 35 3014 ajmVi a m 12?; mm AlaskaJClM 7M Hit AUls-Chalmeu Mfe .... 37H ." .AillChat Mfc pf 014 01 '" . Am A Chcmlcat 09!f 100,'f " Am BeetSuear lDGJf 107 ,AmCan (U AIM 'AmCar&Fdy 7H 70M Am Cotton Oil 5-1 &IM Am Illdo A Loaihor. ... 17 17M Am Hide & L pf 77'f. 78M Am Ico Securities 27M 27M Am Llnscod 2.) 23 Am Linseed pf 53U 5i Am Locomotlrro 02H 03Jf Am Smelt A lief 121M 122 118M 11SH , AmSmeltARpf 117 117 110)5 HOlj sAm Smalt pf II 07 07M 07 07 Am Sucr Iteflnins 1105f 118?f IIS HSii Am Steel Foundries 00 ROM 07M 07M AmTel&Tel 128 128M 128 128 L:Am TObiCCO 220 220 220 220 Am Woolen. 54M HM 53 KIM AmWrltlnsPpf 70U 70M 0SM 08M AmZL&S OOii 01)i 00 GOlf AmZL&Spf SO 80 80 80 AnaconCM 101 Jf 102 00M 00M AtchTop & BV 10-l?f 105M 105M 105M Ateh T & S K pf 1C0M 1005f 100M 100M Atl Gulf & W 1 1235 122M 121 121M Hatd Loco Wks 84W 85M 83 83 Bald Loco Wks pf 107M 107M 107H 107H Bait & Ohio SOU 80M S0M 80H .Bait & Ohio pf 74M 7l 7iii 7-15, Brooklyn Itap Tr RIM 84H 84M MM Brown Shoo 7rt 75 75 75 Butte & Sup 0SW 70 00M 70 Cal .Petroleum 2iW 20M 2W 25M Cal Petroleum pf 53M 50 ' 54M 55M Canadian Pacific 170H 170 1G9 1G0M Central Leather 1MH 115 112M 11C Chandler Motor 110 110 109 109 Ches&Ohlo 07M 07M 07M 07M Chi Great West MM MM MM MM Chi Mil t St I' 03 03 D2M 02M Chi Mil 4 St l pf 125M 125M 125 125 CM &. Northwestern.... 127M 127M 127 127 ColClas&Eiec 4Sf Mil 47M 47M ChlRI&Pac 34M 34M 33M 33M Chile Copper Mil 34M 33M 34 CMno Copper 70 70M 08M 60 Col Fuel A Iran 50 60M 57M 57M Consolidated Gas 130M 130M 130 130 Corn Troducts Rcf 27M 27M 253i 25M CornProd lief pf 108M 103M 108 108 Crucible Steel 8SM 89 80M 80M Cuba Cane Susar 70M 70M 00M 70 DeeraACopf 00 00M 00M 00 DlaUl Soe Corp'n 40 4 Oh 43!,' 43M Eile i , 37M 37M 303( 37M Erie 1st pf 51M 53 02 52M Eil2dpf 42M.42M 42M 42M General Chemical 224 320 320 320 General Electric 181 181M 181M 181M General Motors pf 120M 121 120M 120M Goodrich II F TOM 70M G9M 09M Goodrich D Ppf 114 113M H3H 113M GnnbrCoosol 110M 1UH 107 107 Great Northern pf 117M 118 117 117 ONcfsfor oro prop.,.. 40H 40M 41M 44M Gulf Stales Steel 180 180 170 173 Gulf States Slit pf.,.. 115 114 112 114 .GuUSUteiSSd pf ISO 174 174 174 Illinois Central 104M 105 105 105 InspConXop 72 72M 09M 70 Int Agricultural 25M 25 23M 23 M " lot Harv Cotp'n 85M 87H 87 87M IntHarrNJ 124 125 123 123 Int Paper 07M 67M 65 65 Int Paper Pf ,..104M 104M 103M 103M Int Nick t t cfi 40M 48M 40M 47M Int M M c of dp 47M 47H 40H 40M Int Mifpfoof dp..,.118M 118M 117 117 XetlrBpTlre 70M 70M 75M 70 Xennecott Cop ih 9M 00 57M 57M Lack Bteel Co 105M 100 104M HUM tateErbJtWest.,,.,. 23H 23M 23M 23M Lea Rubber Tire.,,.,,,, 30 38M 38H 3SM Lehigh Valley , 81M 82M 81M 81M Loose-W Ills 1st Pf..,. 85 80 80 80 Maxwell Motors., ..,., 74M 74M 73 74 Max Motors 1st pf 81M 83 81M 82 Mex Petroleum M1M 1UH 108M I08!f Miami Copper ,,.,.47M 47M 45H 45M 3: 18.3 8:00 p.m. 28M 11M 11M 7 101 117 3tM 30M 1R0 Public Utility Bonds We specialize in the securi ties of -well-established Pub lic Utility Companies, and will submit a list of pood bonds of this type to persons contemplating conservative investment, Edward B.Smith &Co BANKERS If roller NmoYerh and fhUsAil BIKk Exchange illl pHMimw at. Blaiwoairau Erfi low Tf rv 30,'f ISO 100M 100M 20M 20M 50 50 58 58 30M 31 H MOM 13IIM M0 70M 110M 0 20M 93M 50M 109 47 50M I.nnt rloso. HlKh. Low, Mo IMC T 1 28U 2SM 28M Missouri Pacific 11M 11M It Mo Pac trefs 11M 12 11M Mo Kan A Tens 7!$ 7M 7 Montana Power 10SM 108 102 Montana Power nf 117 117M 117 Nat Knagi A S Co 31M 31M 3IM Nov Con Cop 31M New York Air Ilrako. .. .180 Now York Central 107M 107 Now York Dock 20M 21 Now York Dock pf 50 5DM N YN II A II 58M 58 N YO A West 31 HIM Norfolk A Western 1 10 North Amerlcon 09M 70M 70 Northern Pacific 110M 111M 110 Ontario Silver Mln 0M OK OM Pacific Mail 20K 27 20M Pan-Am Pet A T pf. .. . 08M 0SM 93M Ponn Railroad 5(K 67M 50M Pcoplo's Gas Chi Ill) 110M 109 Phlla Co i.. 45M 47M 45M Pitts Coal c of do 49M 50M 47M Pitts ,0 pf c of dp 110 111 110JJ 111 Pressed Steel Car 85M 80M 83 St Ry Steel Spbs O0M OHf 59K COM Ray Con Cop 34M 3-tM 33i 32M Rcadlnir 103 109M 10.3 10'Hj Republic Iron A S 91M 02M 83M 88M Shat Ariz Cop 34 31M 3331 33M Sloss-Shef S A 1 89 1)0 85 80 Southern Pacific 100M 100M 100M 1011M Southern Rv 27M 27M 27M 27M Standard Mlillnir 102M 102M 10 iM 102M St Ixiuls Southwest 27 27- 20M 20M St Louis Sonthwest pf . . . 50 50 40M 5'J Studebaker Co 123K 123M 123M 123H Texas Co 237 233 231M 232M Texas Pacific 17M 17M 17M 17M Third Avcnuo 50 49M 49M 49M Under Typowr 105M 105M 105 105 Union nag A P now 118M 110M 118 118M Union Has A Paper MM MM MM MM Union Ilae A Paor pf . . 85 81M 84M 84K United Fruit 101M 101 101 101 Union Pacific 148 M8M M7M 118 USOII'AP , 20M 20 25M 25M USCIPAFpr 05M 00 GO 03 U 8 Ind Alcohol 130M 137M 13 135 United Ryslnv MM MM 13M MM United Rys Inv pf 23M 29M 27M 23 US Rubber 00 COM OlM 04M U S Rubber 1st pf 112M 113 113 113 U88RAM 79 79 77M 77M U 8 Stool Corp'n 129 12JM 120M 120M U 8 Stool Corp'npf. ...121M 121M 121M l-'lM Utih Copper 120 120M 122M 123M UUh Securltios 20 20M 23 23 Va-Caro Chem 50M 51M 40 49 Va Iron Coal AC .... 0SM 09M 67 07 Wabash MM MM MM MM Wabash pf A 67 57M 50M 50M Wabash pf B 30M 30M 30 30 West E AM 04M OlM 01M OtM West Union Tel J02K 103 101 101 Western Maryland 20M 27 27 27 WUlys Overland 38y 38M 33 38 Willys Overland pf 09 08M 08M 08M Wisconsin Central 61M 51M 51M 51M Worth Pump pf A 00 00M 00i 08K Wafclilng the Rlarkef Invntori and traders who road our Weakly Newi Letter are In cloeeet poialbfe touch with development! In aecurltlee of the New York Curb market. Aak (or T.U, 101. JOMES & BAICEH stock unoicisns Wldener DIdg., Philadelphia Bell, Walnut 1800-1. Kfjitone. Ban ZtOO. Jitnet Priltlt VHrtt CoaaccMaf Kerr York noatoa Chlcax Plttburti HfKClAL, NOTICE ISJ HOSPITAL, Thuredar. November So, AVeVUi 1HHUMIIU CfUX. in win btt irate full: Donations la caih V TmivA it . .r.z -mm..n ;; .z...:z !""" bf w ir"urr, buuurtu n, tkuunck. at ids oibvv wi wi5 w.i yocsinui ana fi ifth itrcoU. or at th Jfoiplta, Corinthian an4 Qlrard vaus. Contributions la roods may fa sent to tha Hospital, or will t cslla for. All friends cordUllr Invited. Q. A. BGilYTAnTZ Prtsldsal, 9s!itjltjtj& ..".. j-?. I II ief&tk. E:jm,, ;j, flQ1 mum DIVIDENDS Tins AMBBICAN .OA8 COMPANY 104 Miikei at., Camden, N. J. November 21, 1J1. A quarterl dividend of . (or S per ebare) baa been declared on the, capital atock ot tblj company, payable December 1, 1910, to the atockboldera ot record it 8 P. B. November 13. IBlfl. Cbecka will be mailed. J. B. TOWNaEND, A. Treaaarer. OFriCB OF PJTEBSTATB ELiJCTHIO COHJ'OHATION 111 Uroadvear, New York MavemMr zitn. iota. A dividend of on and thxe-aoarter per cent tl47j uu ib prcicrrea aioca ot (ma I.DO naa oar seen- ueciarea, oayai 1B10. to atockboldera or recon bualnui November -5th. 1B10. company 1B10. to atockholdera or record at tha cloae of oar zoin. laio, B. W 1JAVIP30N. Secretary. haa today been- declared, payable December lit. P1BKCTOUY py ACCOCKTAUTa Cartload PuMI Aeeoeataala .jiwmhis3& .mw New York Bond Sales . "to". eer A,.8ot eb 8.....l0' .i hi SM;i , Bea om.n f 8e ea.,,122. tflOOO A lea HnM 03000 Amor Ar deb 0000 Am Porflen HanO Am. Rm.l( Ham As naooo Amer Tl clt 4e.,,,,, ot 88000 Amor Writ Pan fie.,.. BOH 10000 Armour Co 4M R4ti lfluuil Atchlaon -n 4 (MS I20IW) Atlan Oo Una clt 4a. BJH 4(i0() Halt A Ohio aHa P4 soon do n.,,.........,.loiH 11WH) do 4a ,.i.. D2 4000 dn cv 4H... POU 6000 nradon Con (l .nDft llioil ilrook napTa Da 1P1R.1O0.S Bono Ilrook Un Kir let r.a lolti 200(1 Can Oovt r.a 1921 1004, 2OO0 do Be 1I)2 .BOH (HUM) do 6a 1R31., loo 8000 C C C Ken 4i. ...... .R0V4 ,'loo Cent, Leather lt Ba.-loa,, isonnoo Chill Conner Te.....lS0H 1000(10 Chre A Ohio ev 4M. . 8.l(i soon do 4 Via OS 0(1(100 do ronv 6a PH 26000 Chi Ot Wat 4e 74 70000 Chi A Nwn 8W R8i looiio do eit 4a ," 98J 12(1000 CM jq joint 4a on' lgooo do. n 4a Bl 20(o Chl Ind A Weat 4,,. 7IH i""' -iu ii mi i' rra 4via w . RS. . MX . n . 78 71., !IJ do conv n nit. llo'tU . 71 . D3T4 .104 uuu tin ennv Minin do rv 4M .4000 Chle n I A Pac 4a Bjihki ,io rfd 4a .?.... azooon ,) na 8?.I!!! !" "" e' " t. 1000 do Ba ct 2d ata . lOiHMI Col Midland 4a .. 14R00II Cllv nf I'orl n. 6000 rpna p of Ilnlto Ba.lOR 3000 Den A Itto Q rfd Ba. . 70 iv io oa , . . . 100 Detroit United 4U. 67(100 Dla 8- Torn 6a . . 2000 Krlo (ten 4a 2B000 i:rlo conv 4a Ber D. Bonn do prior 4a . 3000 Oreat Falla Iow 6a . BOICO Hud A Man rfd Ba .. S20IK) III fltrol dab 4V4a... 41100 Indiana Kl) Ba 7000 Intern Met 4Ua 7.1 20000 Inlerb It T ref Ba . . . not 400O Inter Mer Mar Oe 0(114 4000 Intl Paper Oe 102 2000 Jananeafl 4a . , 72 2200(1 do nw O 8 4V4a.... RIH 17000 do 4H RSH 10(10 K O Ft B M l III', 2000 Kan City 8o Int 3.. 7o nooo x n n 6a loau 3100 r,ncka Hteel 6a lnB0.1((7U 20 O I.nkn Hhnrp r,n nUa.. ROU 1100(1 do doll 4a 1(128 1)11 moon do 4a 1081 nil 2000 Ih Vnl ron 4Via 100 nonn r.ie- a m n t ij7 26000 I.onla A Naah 4a! n4 IIUU Aiinn A Ml r. 4a 02 noon Mo Knn A T lat 4a. 21000 dn 3d 4a 4.tioo Jtn Par w I ( at 14000 do col 6a 1017. . ..10(1W BO00 dn Ba 11120 w I,. . . DT r.ooo N Y Conn Itwy 4Ha.. noji 0400(1 f Y C A II 0 113' 20000 do 4a, D2'4 70(10(1 do 414 a Illl'i loon do ran tn R(Ni V, 3 "It 61 K 4000 N Y City 4 1OB0 1021 do 4'Aa 11)00 IHW. 20000 20000 dn ret t 440OII do 4t4a 1B03 1(10(1 N Y N II ft 6000 do (ta 112 1KUU l((l v. An inna. ..1051 IB03 110H II 4e 1D6B. T7H 07H 10R 25k dsk lot 73, now (iV 102 1-. 70 102H inn ROW 00J4 06 loot 127 OSH 02 7RU 61 , Hfl't I02 I03U 60 nnv. KBIi 04V4 (17t! 20(10 V Y Ill"V mil Kn inooo N Y Tel nen 44a... 2000 Norf A Wnat 4a.... 2.1((()0 Nor I'ac prior 4a .. 1000(1 do rn 3a 80000 Orn Hhort I, ref 48. . 03 4000 dn Ba 107 ammo I'acinc Tel ne ... 1000 I'cnna 4a 1018 ata 8000 dn rn(Ui . .. 3HOOO dn 41411 1021 .101 now 10(1 ioi 7 ini flSi 107 101H nn'f innir '':i 10000 IVre Maniuette aid 4a 31H jnuiifi i'uniic norv Pi J da... iin .1000 Itradlnir gon 4a n.1H tOOna Itrp Ir A 8t Be 101V1 600(1 Itwy Htl Rpbb Sa 1021.101 inoo dn 1031 US HO0O Ht I. I M A a ren Ba. 102 2ROOO HI I. S S K In la BilV 4.1000 do ala 4a H2H 40O0O dn Hrr K' 71 nooo fit Iiula Bwn con 4a . no 21(000 Hcnboard A I, ndj Ba. 07T4 6000 dn rtd 4 70H 1000 floulll Hell 6a 1014 37000 South I'no cv 4a . . . 8Hti 80000 do cv ret f p Be.. .104'i 40-0 South Itwy uen 4a.. . T.1 Bono do con 6a I0IT4 6000 Tenn C rrt full paid. . ill 6000 Texna A Pac lat Ba...lOO 6000 Toxaa Co cv fla 101i 300O Utah Power Ba 0(1 1000 U 8 fl A It 4a 1I2H 1R0OO do 0 12.1 0(10(1 U H Iluhber a I02tf 43000 U fl Steel a f Be 107H 172000 tl IC of Or II A I Ba. . DO',, 3000 Union Pao lat 4a WiH 1000 do rfd 4a MJ4 0000 Un rtwyp S P 4a.... 87ti 10000 Un Fuel 6a 1((1H 6000 Vn I C A C lat Ba.... 87 57 11-4 (1.1'J K)tVi 101 OH 102K BO R2 71H no 07 K 70 101 87 $ 7.1t 10114 01 100 NEW HIGH RECOltDS '. SCORED BY COTTON Early Prices Show Gains of 8 to 31 Points, but Declines Fol low Advnncea Blacon. port. Clmrlealon, Meridian nnu Vkk.hnrr. I.lttle llork. JlonU lllrmlnaham. 42 1 Memnh a. 441 T ! ilia nnn niianni COTTON nM.T WnATIIER CONDITIONS NF.tV YORK, Not. 27. Clear weather nrevallfd over tlrtaallr the entire cotton belt thia mornlnci . , The followlnir temprrntnrea were recordMt KnoiTlllr, 80 Ralelah, 35 1 Chattnnosrn, 81 . waaiiTliia nnn aiiiumo, ni nnreye'. Aiiania, aui ornery ana homnatllle, b. ,.-,.11 ,m II. 10 .iiuoi.r, uv. Oklahoma nnd renaacoln, BJt New Orleana and Fort Hmllh, 541 Abilene, Bfll Ban An- Ionlo, 8Ri Tamna, 00 C'orpui ClirlMI, 681 aekaonrllle, HI. . NEW YORK, Nov. 27. New high records were made on tho Cotton Exchange at the opening this morning, tlrst prices showing gains of 3 to 81 points. Tho near options scored tho nmnllett advances. There was a firm tone nil through tho call, Spot houses were tho leading buyers, while Southern Interests purchased on a moderate scale Liverpool bought tho nearby positions and sold the lata months. Commission houses operated on both sides and a supply came out from uptown Inter ests. Profit-taking by last week's buyers also wan noted nt tho atari. The early advance to now high ground for the season of 120 to 125 points abovo tho low level of lato Inst, wcelc attracted heavy general realizing and renewed selling for a reaction. Nervousness over the pos slblllty of another submarine raid on this side and reports that tho higher priced wero attracting n little more hedge selling seemed to Increase tho disposition to even up ac counts for over the approaching holiday, and tho liquidation became more urgent as prices worked lower. January Bold off to 20.80 shortly after 11 o'clock, or about 30 points from tho higher level of the morning. The tone was feverish and unsettled dur ing tho middle of tho day. At times the local selling was aggressive. Tho action of tho market recently rendered reactionists rather more confident, whllo tho nppearanco of long liquidation bn every little bulge sug gested that the technical position here had weakened. Slight rallies followed a second break to 20.80 for January contracts, but wero not fully maintained during the early noon hour. Sat. cloae. December . .. .20.H7 January 20. 1)7 March 21.10 May 21,80 July 21.80 October lH.ot Spot 20.05 Open. 21.00 21.00 21.11 21.30 21.46 10.0.1 11 a.m. 12 m. 2 p m. 2U.U-I -u.uu Z0.7I 21.(17 21.20 21.45 21.08 21.21 21.49 20.77 20.1)2 21.14 18.77 Liverpool Cotton LIVERPOOL, Nov. 27 A fnlr business was done In spot cotton today and prices wero CI points hlghor on tho basis of 12s Bid for mid-upland. Tho sales aggregated 8000 bales, including 0000 bales American. Tho Imports wero 0000 bales, all American. Tho market for futures closed tjulct at a net advance of 4S049 points. OB1! 1124 112'? IOIJL fattt 126U 102 V, I07H tin nns oi 87H inns 8714 XO.-tt.. 6 PUBLIC SERVICE SECURITIES Public Service Securities are a lien on the success of communities L Roanoke Ga & Li'ght Co. 1st Mortgage SBonJj. The;e bonds are an absolute 1st Mortgage on the entire rr jperty of the Company. Ct Roanoke is a Highly prosperous city, which is reflected in the increased Dull ness or the Gas Company. G. The Bonds or the Company are followed by $400,000 6 Pfd. Stock. C, Last report shows earnings over twice interest requirements. C, There are other very attractive features about this investment that we will hand you on request Baken Ayliig & "Vbvuxg Lard Title Bldg. Philadelphia. City of Montreal 5 Gold Bonds Dim November I, 1056 Montreal is the largest and wealthiest city in Canada and the principal commer cial and financial center of the Dominion. Price 99 and Interest Yielding about 5.05 Descriptive circular PE-73 on request TheNationalCity Company 1421 Chestnut St., Philadelphia New York. Chicago San Francisco Ootton Pittsburgh JtecteiJ'Co. BANKERS and DROKCns Ith A. CHESTNUT OTO, N. C. Cor. Membera or lnila. Block Bichant. to ni Direct Wlra Vew Tor Special List High Cra do Tax Fran Bonds. REED A. MORGAN & CO. Weat Knd Trmt Ilulldlnc. Philadelphia Member of the rhlla. Mock Kxehanco Financial Briefs The Federal Reserve Board has approved a rate of 314 per cent on trade acceptances for the Federal Iteserve Dank of Chicago. Application has been made to the New Tork State Banking Department by the Guaranty Trust Company, for permission to establish a branch In Paris. New Tork banks lost to the Subtreasury on Saturday, $2,932,000, and since Friday lost 15,008,000. The Twin City Rapid Transit Company had gross earnings of J846.916 during Oc tober, a gain of 130,333 as compared with October, 1916. Net Increased 115,168, to 1331,019. The directors of the Pittsburgh Coat Com pany' are scheduled to meet In Pittsburgh tomorrow for dividend action. Nothing un usual Is looked for at the Besslon. During October tho Chesapenke and Ohio Railroad carried 2.407)314 tons of coal, an Increase of 67,207 tons over year ago. head LIVE STOCK QUOTATIONS CHICAdO, Nor. 27. HOOfl Hecelpta, 52,000 Marxei luc nianer. aiwhi nnu nuicnera, 10 23. aoW heavy, J9.R0W1O.2B: roush heavy. ID. 00011.0(1! llant. 18.0390.83) rlga, it.3r"o0i bulk, in.a.ioin.in. . CATTLB Ilecelpla, 20.000 head. Market 10 IRo hleh-r. Iieevea, $ri.7flM2i rows and heifers, l.l.TftWO.BO; etofkera and feedera. 14.73 On.nSi Teiane, lO.lSWIOs calves. 110012.15. SHEEP Hecelrta. 2T0O head Market ateadr. flatlve and weatern, 1IO10.35! lamba, ISO 2.23. Prtrkc, Davis Extra Dividend DKTROIT, Nov. 27. Tho directors of Pnrko, Davis A Co. have declared an extra dividend of 4 per cent In addition to tho usual quarterly dividend of 4 por cent, pay able December 31, to holders of record De cember 20. BIG DROP IN SURPLUS Decline of $7,386,000 In Week Loans Aro Larger The outstanding feature of the condition of tho members of the Philadelphia Clearing House Association for the last week was a decrease of 37,886,000 In surplus. This brought the surplus down to 12M00.000, which Is lowest since the week ending Oc tober 30, when It stood at 23,918,0C0. Gen erally In the last couple of months this Item has stood close to $80,000,000. Tho decline of $7,386,000 Is partly ac counted for In an expansion In loans, this Item showing a gain of $6,239,000. This Is tho eleventh successive week that nn In crease has occurred, nnd brings tho total up Mo $647,196,000. The Individual deposits showed a decrease of $1,862,000, whereas In the previous three weeks tMre was an Increase Illf. nrev wk NOVt-ii H'l'i liecreaae (. ,. ! ..... . iR47.mn.onn 1, Iti, IfWVII Denla (lndl Circulation T)ue from banka . . . Dept of banka r.x Clearing Houses.. Iteaerve held ...., Iteeerve reqd flurplua ............ Rurplua. November Decemlier 1. 1018. was ?0,7O(J,UVUl inn. noo 1.832.000 83.000 r.,217.000 r,on.ooo 1,103.000 t,04l.0O0 Bfl.1.000 noo.ooo T.nRS.oou 21). 1013, 133.801.0001 o.nsz.uoui ovemor H.onn.noo 83,824.000 1J8.702.00O 28,8lfi,noo 108,703,000 82,103,000 24,0 1A. 00.7 000! November 27i 1011, $l'0.937.2(!0. lncreaee NEW YORK COFFEE MARKET NEW YORK, Nov. 27. Tho market for coffee futures opened 1 to 4 points lower. Trading on the call was active, sales amounting to 9600 bogs. Today' orenlnir. November ...... December 7.0008.00 January 7.0008.03 Keuruary March 8.20(78.22 April May June July Ausuat .. Keptember October .. Hid. 8.20W8.21 8.8308.33 8.4BO8.00 8.B3 Saturday's , cloae, "7.08 07.09 7.0807.09 8.0008.07 s.iROs.in 8.24 8.23 8.anR.32 JI.37W8.3H 8.43Q8.4S 8.3nJ8.B2 R.r,3R.B7 R.nnR.n2 8.0008.07 LONDON STOCK MARKET Unfavorable War Ncs From Rumaa!att tront Causwjrregularity LONDON, Nov. 27. Continued ie. able news from the numanUn thea.. war was reflected In unsteadiness?, . 1 ties on the Stock Exchange today. nSSSl was on a small scale, and the , ! wero Irregular. niarittta qilt-edgcd Investment Issues w.r .u and weaker, with rates firmer a .J h" tlon was the American groun w,I cheerful, with n healthy ai.1,," United States Steels were good rftM- Canadians were mixed. Alt'eralUn. , homo lines were confined to fracti. . 1 this department was confused. Bou ih"?" lean rails wero Inactive. A tW BiJS Allied tionds were sustained. PenlJL. sagged, Dea Ings In mines were light iw lowing tho staple, rubbers wer ..ii "' There was a break In Cuban nnr'i. , wiui mo v-uuhii government. Indonfc din, "Hlement Atcblaon Canadian Paclde .. Cheaapeako H Ohio Bt Paul Krlo . do Orat preferred tlllnota Central . . . Loulavllla A Nashville fiew ionc (.antral , Pennsytvanfe Rendlna'. Southern Paclflo Union Parinc , United States Steel Kx dlvldfikd. M ... 12:sn ei',1-" t ?,i !2iH n ii a - w; !.7, y 73U IK :::::: B8 $S ii?; loi no lis m 138 4. U !r, R7V, tf :: Spot Wheat Steady In Llrcrnaol NEW YORK, Nov. 27.-I,lverpooI wh at was steady today, with No. l Northern Manitoba, now, quoted at 17s Id, and No. 3 Northern Manitoba, new, nt 16s 6Hd Corn was quiet, with Amorlcan mixed 'in. changed At 13s Cd. while plate showed a loss ot Utl nt 13s 7d. Flour was unchanrM nt .60s 6d. ptt2 French Municipal Loans 520,000,000 $20,000,000 $20,000,000 City of Bordeaux City of Lyons City of Marseilles Six Per Cent. Three-Year Gold Bonds Due November 1, 1919 INTEREST PAYABLE MAY 1 AND NOVEMBER 1 e Principal and interest payable without deduction for any French governmental or municipal laxes or other French taxes. Principal and interest payable in New York in United Slates gold coin, or, at the option of the holder (to be exercised as to principal thirty day before the date of maturity) in France in Francs at the fixed rate of Francs S.GO per Dollar. Coupon bearer bonds in denominations of $1,000, $500 and $100 each. The Government of the French Republic U to undertake to furnish and permit the exportation of gold, so far as necessary, to permit the Cities to pay. the interest or principal amount of the loans in gold in the City of New York. We ar.3 informed that these loans are the only external loans of the above mentioned Cities, and are to be made to provide for expenditures for the alleviation of suffering caused by the war and for other municipal purposes. We are advised that BORDEAUX, one of the three leading French seaports, has, acordinK to the last enumeration, a population of 261,678 and a funded debt of Fes. 48,500,000 (approximately $9,000,000). LYONS, next to Paris the leading trade centre of France, has, according ' to the last enumeration, a population of 523,796 and a funded debt of Fes. 97,000,000 (approxi mately $18,000,000). MARSEILLES, the foremost seaport of France, has, according to the last enumeration, a population of 550,619 and a funded debt of Fes. 122,800,000 (approximately $23,000,000). THE UNDERSIGNED WILL RECEIVE SUBSCRIPTIONS FOR THE ABOVE BONDS AT 98 PER CENT. AND ACCRUED INTEREST, AT WHICH PRICE THE BONDS YIELD ABOUT 6.75 PER CENT. ON THE INVESTMENT Particular attention is called to the small per capita delt of these Cities, to the attractive yield of the bonds and to the possibility of a very substantial profit in exchange, in view of the option to collect the principal"and interest of the bonds at the rate of Francs 5.60 per Dollar. Thus if at the maturity of the bonds the rate of exchange should be Fes. 5.1 8 (the normal rate before the war) the principal sum payable in France would equal a redemption price in dollars of about 108. Subscriptions will be apportioned among the three Issues of bonds and allotments will be made on the basis of equal amounts of each issue, in so far as feasible. The subscription will be closed at three o'clock p. m. on Tuesday, November 28, 191G, or earlier, the right being reserved to reject any applications and to award a smaller amount than applied for. The undersigned reserve the right to close the subscription at any time without notice. A first payment of $50 per $1,000 bond subscribed for must accompany all subscriptions. The balance of the amount due on bonds allotted upon subscriptions will be payable in New York funds, on December 6, 1916, at the office of the Undersigned, against delivery of temporary bonds ex changeable for engraved bonds when prepared. . , If no allotment be made, the first payment will be repaid in full, and if only a portion of the amount applied for be alloted, the balance of -the first payment will be appliedv. towards the amount due on December 6, 1916. No interest will be allowed on such first payment. If any further balance remains such balance will be repaid. Failure to pay the second installment, when due, will render the previous payment liable to forfeiture. All allotments will be made subject to tho necessary official action to complete the transaction and to the opinion of Counsel as to legality. KUHN, LOEB & CO. New York, November 23, 1916. . ,,;,,( v ,,.', . i it jurinucri uib t iiiih rtiocK jwxrnanrs it ".. ..........s....swei..Maaaaaaaaaaa.eeessa.sss li 7. iiiiii I gewtll. ntfH Uiu a li! lUliUMiUkUttiUiliiU W iillWWiMll wmi i mwti itwwww wwi wtajtwisMiMiw i i m i tun hmii iihm w M.iMaM ia mm m M.M.iai.(.-..HeH-.. i jiiii-nHiani 'eg Four Wheel Drive Manufacturing Coe Manufacturers of United Four Wheel Drive Motor Trucks AUTHORIZED CAPITAL $1,000,000 7 Cumulative Preferred Stock $250,000 Common Stock $750,000 Par Value $100 Full Paid and Non-Assessable DIRECTORS are composed of prominent business men in Minne apolis, St. Paul and Philadelphia. MANAGEMENT U under the direction of men" who have had years of experience in the automobile world. LOCATION of Factory Minneapolis, Minn. CAPACITY 5,000 trucks per annum. MECHANISM All four wheels being driven from one differential. Driving all four wheels from one differential means that there Is from 25 to 75 less parts used than in any other motor truck of this system. It will increase motor power 100 it will Increase the life of tho machine 100 It will decrease cost of operation and use of fuel from 40 to 50. Some of the foremost automobile engineers in this country have stated that the UNITED FOUR WHEEL DRIVE MOTOR TRUCK is the last word in automobile truck construction. The motor truck business is in its Infancy, and the profits which will accrue to stockholders in motor truck companies should equal the enormous profits that have been made by manufacturers of pleasure cars. We offer this 7 Cumulative Preferred Stock at par, $100 per hare, giving one share of Common with each 2 shares of Preferred. We have every reason to believe that the common stock of the Four Wheel Drive Manufacturing Company wlU be worth par within 12 months. The company at this time has sufficient applications for trucks to pay a substantial dividend on the Common stock after deducting the dividend requirements on the Preferred stock. There has been subscribed $100,000 of this stock, and we offer the remaining unsold portion. All subscriptions will be received subject to the stock being unsold, Descriptive circular and blue-print sent on request W rteommtnJ th purchaia of thlt ttoek as an unuaually attractive invtttnunt at thh tlm. Elwell, Naulty & Company Investment Securities Stock Exchange Btiffdg Philadelphia, Pi Ha m m P tt FOREIGN BONDS n Philadelphia is doing it's full shae in giving this country a strong position in world finance. . A broad participating interest has been taken here in bond issues of European governments. s These bonds have been made extraordinarily attrac tive to the investor. They are in dollar form and have' been issued in various methods to meet the views of leading Ame?ican bankers, thus: 1. Joint obllfatloa at man than pne fOTernmenti X, Supply t abundant collateral securltri S, When tba abode terms Hers not mad, tha Interest returp waa mad compenaatlnsl hliheri 4, Soma mo short term and others faUlr lone term. These investments are sound. Their valuje after the war ought to be substantially higher. For temporary investment of business funds or moneys awaiting oppor tunity for later permanent investment, we particularly commend the secured two, three and five-year notes as. being ideal in form of security and returning about S H per cent, income or more, We own and offer the following' foreign bonds: Beeuritr Approximate YleU United Klnsdom of Oreat Britain and Ireland i-rear Seeored Kotea.,,.,.,,.,,,,, S.i5 United Kiacdom ot Great Urltaln and Ireland S-jear Secured Nate ,,.,, S,1SA United lUusdom ot Great Urltaln and Ireland S-jrelV Seeored Notes.,., S.SSSi Anxlo-lfroneli 0-7oar Ste Bonda ....,, ,,,,.,,.,,, .), .,,,.,,.,,.,,..,, ,..,, ..0.10 Cltx of I'arU S-rear fi Bands ..,..,....,..,....,,...,,..,.,. 6.15 Imperial Baaataa Government S-year SH .73 Corerument ot tho Dominion of Canada ls-ycar t Bonds ...... ...........v 6.00 . GoTtrnment ot th Anentln Nation e No tea. Doe December 13....,,,, .......t ,., Detailed description supplied on request HARPER & TURNER Investment Bankers 1000-1012 Stock Exchange Building) Philadelphia l "fl :m. c
Significant historical Pennsylvania newspapers