EVENING LEDGER-PHILADELPHIA, SATURDAY, DECEMBER 1910
FINANCIAL NEWS
STOCK MARKET REFLECTS CONFIDENCE
IN EXISTING FINANCIAL CONDITIONS
Some Weak Commission-House Accounts and Over
burdened Pools Forced to Liquidate by High Money
Rates, and This Is a Strengthening Factor
High Points in Today's Financial News
Stock market dosed strong. Public utility issues prominent. Wheal
declined on further Belling. Cotton lower, foreign exchange dull. No iVMti
in ileel buying. Demand for rails large. New York bank statement showed
decrease in average and actual loans, surplus and ittmamt deposits. Hank
clearings for week 13.7 per cent above last year. Price of bar silver higher.
mm
NBW TOtUC, Dec. 2.
The stock market In the half tlny'a trading reflected tho existing confidence:
of tho Important Interests In tho financial situation and In thd Industrial outlook.
There were many Indications that nil through tho period of western liquidation
and bearish nttneks stocks sold had 'gone Into tho strongest hands, nnd tlint
the speculative situation Is again In such shapo as to Justify n resumption 01 bull
ish activities, with vigorous advances In prospect In many Issues.
Tho market hna gone through Its period of money tension, which probably
reached the apox yesterday, when money loaned at CV4 per cent without anything
disastrous to stock market affairs. Some of the weak commission houso accounts
and overburdened pools wero forced to liquidate, hut this, instead tif damaging
tho market, was a strengthening factor, nnd with that liquidation completed thoro
was mf obstaclo to tho establishment of higher prices In this morning's dealings.
No ono In tho Htrcot doubts that tho tension In money was due to tho
operation of banking machinery and Intended for tho purpose of forcing liquida
tion of speculative holdings, nnd nt tho name tlmo helping tho banks make con
tracts for employment of n largo part of their avallablo funds In tlmo loans dur
ing tho coming year.
All tho offerings of tlmo- money mado this week at rates ranging up to r.14
per cent on nil Industrial collateral wero plnccd'nn soon as tho offers wero-mado.
Borne of tho syridlcntcs nnd pools which were unnblo to mako renewals wero
forced to closo out thcr holdings, but tho securities sold by them wero absorbed
by Interests which were ready and waiting for this liquidation.
, 1'uhllc utilities wero moro prominent In todays trading, when Ohio, Cities
Gas made ai advance of C points to tho new high record of 123V4 nnd Columbia
Gas also made a now high record, ndvanclng 2 points to G1V4- Of more Importnnco
than tho trading In theso Issues was tho banking buying of securities of roads
emerging from reorganization. Missouri rncllle old stock mado a gain of .1 points
,0 17 and tho new shares nnd now bonds to bo Issued under tho reorganization
were also established at substantially higher prices.
Hock Island Issues were actlvo nnd strong and thoro was a display of strength
In such Blocks ns Missouri, Kansas and Texas and Wheeling and Lake Krle. In
the higher class of Issues Heading attracted moro attention by Its continued up
ward movement, with 11 good part of the buying coming from First National Itaidc
and Vandorbllt sources. A feature of tho late trading was an advance of 4 points
In Hldo and Leather preferred to nbovo 82 U.. .
v
Tho bond market was generally Ilrm, with heavy transactions In Missouri
raclfio securities, tho 4s when Issued selling in largo blocks around G8i. Jtock
Island 5s wero also active and strong. Foreign Issues wero steady.
New York Stock Sales
mh.
Acme Ten MV,
Advance Hum . . . 101
AJax Itubber .... 10
Alaska Gold Mines 14V4
Alaska Juneau... ',,
AUIs Chalmers . . SSiy,
Am Ag Chem .... OS
do pref 10.1
Am II Sugar loW
do pref loo
Am ran es
Amer Car A Kdy. il.
do pref lis
Am Hide & I.ea, . tH
do pref H'
Am Ice SJV,
Am Unseed sm
do pref SJU
Am ..ooomntlvo .. bi
Am Malt I Hi
do pref Bi
tinw.
flV
10
'.a
It
s
.VI
0.1
10.1
ini?f,
loo
J'
is
lis
1.14
isn
tlVt
54 M
alt
noi.4
IUi
Al
Ml!",
n
v,
i"
IU
W
Ht
14
H&
I
i
Vt
sst A1
21 V,
S4
no.
flsVi
tou
10
14
s
95V,
0.1
101
loMi
inn
ost
is
lis
is
asy
ot
mi
si
MS
tint,
IM.
Wi
W
4
H
0
fllfc
4 '.
4 'I.
- Vi
Vt
su a
SO I t
I'M
Am .SmcllltiR . ...ltftH lin
do pref Ilfllfc I mil.
Am Sugar Ill llfHi
Am HtcM Kdy..:. n.i m
Am Tel A Tel ....llltfc 131 N, 141
Am Woolen nsii. unit, .Wf.
Am Writ Pap pf. M4 nrt'i,
Aincr Kino .IHVi .11
do pref so so
Anaconda Copper, lot DIM, Ion
Asso oil flfltf. notfc it '
Atchison inn- ion Ions
do pref innli I mi 44 Inoli ...
At Uulf A V 1 ..IttM l T!4 rl
Hnldwln I.OCO.... ill-. Id "SftTf.
Halt A Ohio Ui
do pref . 11
Ilrklyn Itap Tintr1. S
lluniH Ilros H.l-Vi
Ilutto A Superior. o
California l'et . . . 3fl?4
do pref .1(H4
Canadian I'ai-ltlc. . ins Vi
Central Leather. . II I
Ches A Ohio .... naif,
Chic Oreat ... l,i
do jiref A 1.1
Chic Mil A St 1'. !i.1!4
do prct 15M
C C C A St Irfiuls H4
1(1
!!!
S.1
Mil
'(.
so
.1.1
nn
noli
nil
tin
4.1
0.14
12.1
s4
A.V.4.
l 'in
inVi
31 14
3.1 Vi
osy,
31
l-ist4 T-0
no If.
WHEAT GETS WEAKER
ON FURTHER SELLING
k
Congestion oO Railways and Em
. bargo Discussion Are Against
Improvement
CBAIN HKI.T WnATIIKK FOUUCAST
CIIICAIU), life. 2. The nrathtr foreenst
for lhlrtj"l hours folio""!
Illinois. Wlsi-onsln. Minnesota. Imrit und
, sixl Kna I'ulr, moilerute trmprmturea.
Xfbninka Fair. Dioclrrute IriiiiKTiilurp.
North Dakota Knlr toliiyi Sunday, mirtlr
rloudr nnd prnbnbly unaritlrdi modrrnte
Irmwrstnrn. frmh luiuthrrly nlnit.
South llakolii Kolr toduxi Nundny. partly
tlondy. modrrnte trmiiernturrs, frenh south-
Indiana I'ulr today and probably Sun
day, warmrr Sunday.
CHICAGO, Dec. 2. Selling of wheat con
tinued this morning and prices lost further
pound. Moro acute congestion of railway
facilities, expectations of further restric
tions by railroads and the approaching ses
sion of Congress, where tho embargo ques
tion will bo taken up, were against higher
prices.
f December opened at JI.6G to $l.C5?i,
against II r7 at the end yesterday, and
'sold at 1.65Vj ; May started at J 1.74 to
U.73H, compared with $1.74, yesterday's
.-last price, and receded to $172, from
. which It rallied to $1.73 ; July was quoted
nt $1.4Hi to $1.40 at the outset, com
pared with $1.42 H, yesterday's final quo
tation, but later improved to 1 1.4 Hi.
The market nt Liverpool was stronger on
disappointing world's shipments for the
week. Kxportlng countries other than
America nre not contributing the quan
tities that had been expected iind tho lack
of room on vessels Is being felt severely.
The harvest In Argentina, which la being
extended, Is oven poorer than had been pre
dicted. The receipts nt Minneapolis nnd Dulutli
today wero 947 cars, against 1499 cars a
year ago ; at Winnipeg, 933 cars, compared
with 1643 cars; at Chicago, 167 cars, con
trasted with 6C cars.
Liquidation was still under wny In the
coarse grains, which were easier, although
prices abroad wero sustained. Hecelptn of
corn here today wero 415 cars and of oatH
310 cars.
Leadln futures ranetd oa follona:
-IP),.., r. .... . .... ""
December ., l.flil l.ijti
Mr 1.T4 1.74
JUU- ...... 1.41M l,4l4
Corn (now delivery)
ljtivr. Cloae. eloao.
l.nsK l.nii ti.iiT
1.7(1 1.73 1.74
1.3S& 1.41 l.H
December
a ....
December .lfl.(ls
Jtauary ,,1B.17
Mrl. is.07
ltlba
January ..14.12
May , 14.3U
.20.80
.2II.S5
tAaked.
HltW
UU
BOH
R2
BUS
S3
Sst-
8Hi
tuo
eOH
B2
n.lH
W
floTi
uo
8UH
B1J4
tS2
I'ort'
January .
Uay .,..
1S.70
10.17
1B.07
14.13
14.30
27,00
2U!S0
1B.30 tV70 'IB.
1B.02 U.2 1.
13.70 f 15.S7 tlS,
14.02
14.23
14.00 14.03
14,22 114.27
28.40 20.75 I2B.7S
23.70 20.17 t2t).B0
BUSINESS IS SMALL
ON COTTON 'CHANGE
Commission House, Acting for
Southern Interests and Liver
pool, Is a Seller
COTTON 11F.I.T WKATIIKII rONIIITMNS
NBW YIIIIK. lire. 2 Clear Heather pre
Millrd In the Muthrrn pari of the cotturi
brlt tliu inornlnx
.Mrrldlan nnd Milf
Autuilii, alt Aohevllle,
The fnliuwrltiK trmneroturea nrre reeonl
inn .tnrii.Tn : ..imv...n. .... i
linoiiille und Montionirrx. Sftl Thomanvillr
nil
nnd
rnn. Z-t ( nuitunoojcn
;tot amitiue.
Atliinlii und Itlnnlnzhani. 40i Oklithimm nml
Vicksburc. 42! rcnmti-oln, .Mobile. I.lttln
Itork. fort Smith. Chnrlrttnn, Snvunnuli
und Ralrish, 4 It .Mrmphla und Hlirn rport,
4(1 1 Nrnr tlrlrnna. 4Ki .Hnn Antonlu und
Tampu. SOi llrl Klo. llllmlnaton und JutU
kontllte. S2 Ahltrnr. Sit fortius Chrlatl
nnd (iulvritton. 02.
NBW Y011IC. Pec. 2. Tluslness was
rather tamo on tho Cotton ICxchange at tho
opening this morn,lng. Decembor was C
points higher, but other months were 4 to
8 points lower. The only fcaturo to tho
trndlng was the selling by a commission
house which heretofore hiis octcd for
southern Interests and also foMf.lverpdol.
Other commission houses wore buyers,
however, nnd room traders and New Or
leans also purchased. Some of tho Wall
street houses which havo been advising
short sales were sellers.
After tho call pressure from Bcvcral
sources forced prices down 2 to 3 points
from the early figures.
Clear conditions prevailed In tho cotton
belt. Temperatures were normal In tho
West, but lower In tho Kast. frost .being
reported In Louisiana, Alabama, Georgia
and Florida. '
Tho receipts of 'cotton nt the ports for
the day were estimated at 38,000 bales,
compared with 33,914 bales laHt weok and
32,173 bales last year.
December
January
March . .
May
July
October .
Spot ....
Yea. clone.
... .20.02
-.'0.14
20.37
Sd.ail
20.S7
lH.UCI
20.20
Open.
211.0.1
211. in
20. a i
20. SI
20. 4 U
1H.S3
lllsh.
I'lUl.-.
20. IU
2(1. CI
20.111
20.11'J
1M.IHI
I.OW.
I'.I.HK
2(1.01
20.2(1
1-0.4(1
20.47
IS. Ml
Cloae.
111. US
I'd. (Ill
2(1.33
2ll.fi5
-.'ll.r.3
1H..-.U
2U IS
New York Bond Sales
llleh,
17000 Amer Aur deb Be 1114 .
01400(1 Anslo-I'r 3a Ill '
niuuo Am Korelen Heo S... lis1.
1 IKUIO Amer Htnelt Kec (la.. 111
Ioiki Amer Tel conv 4 ...loo. ,
Ifiooo Armour Co 4Mb HIS
111000 Atchlaon en 4a U4'
10000 Atlan Co l.lno clt 4a. S7
S000 Dale k Ohio 34a 0.1U
1500(1 do 4a 02..
35U0O do cv 4Hs ''-IS
1000(1 llcth Steel lat 3a 103S
,-imti ,-n fr,v r.M urn . . . ut,T
400(1 Cent leather let Sa
lliooo cent rao iat
liw. Cloe.
lilt 101
U3U
us
IHH
Kio
S7J,
U2
',D
111
llhVt
111
Kill
VIS
UIJ.
hT,
uas
112
ll.1
5000 Cent 11 11 N J.Sa. . .
04000 Chill Copper 7e
2000 Cbea & Ohio cv 4Wa
iwT
.1031
LOCAL MINING STOCKS
TONOPA1I 8TOCKH
fl
:::.:
.as
.07
e-"
...... .17
...... .-3
S3
?
...... 474
0 3-18
.2(1
,, IU
aOLDKIUI.D STOCKS
StUu.nt5ulf 01
Booth "' ni
Combliit il'oV PrVeVloq '. I '.'.V, ', ', '. '. '. fol
ptuMttdMd ii a ..,::::::::::;: .'m
t. ' "-iii-.ii ., .04
iorenc
fi?MBBt,p
gjcNam.
MUpah Etenalo'o"r;
NorUurn Star
Tonopah, Belmont .
Joaopah Eiteniton
Tooopah Mtnlna ....
imi ttuia
(( .nq
..........,.'
tr- Uoun.lj lleraer ,.,,,,,,,.,,,,,, ,03
eM(ll'i
t iiilt
!
3ma
&wna
B t A V Ht
Sf,??.1?!?..-
MISCELLANKOUa
Aruona United
Nevada, mil ...
Nvd. wonder
av ioui
fM'MfllHf
tl
M
, .02
, .01
. .31
,80
, .22
2.20.
. .IT
AaUd
l.uo
.09
ITii
.a
II
.2S
.73
.03
,02
.10
.01
.00
.(III
,0(1
!27
.33
.(HI
:r7
,03
,05
,33
.35
.21
2.25
.IV
Financial Briefs
Commercial failures this week In the
united States totaled 247 against 313 last
week, 383 tho precedm week and 361 In
the corresponding -week last year. Failures,
to Canada number JS.vgalnst 33 last week,
4 In the, preceding week and 36 last year.
There, has been admitted to regular list
5 tho Philadelphia Stock Exchange I3.0PO.
W additional first mortgage 4 per cent gold
wnoji of th Connecting Hallway Company
torch IS. mi. "
Tha operating- revenue of fif ly-ono eteam
railroad m tho United States during Octo-
M6r totalei! 119Q inf'4Q1 nn lniriuia of
$U,5Se,839. ni compared with the corre-
". to I47.U9.763.
Twwity-tilB railroida report gross tarn
W fit ?1M3&1S for tHe third wk of
gsr, s Uwtfsn of f7,SJt s wbi
fwd wtU, li oSrwwtAtaiT W "J
i ,
S ln.3 Hiss
mil. imji
lj lH3f 1II3J
A 11TU htl;
4flK 1I.1K 14HU
h.H h.T.i b.1-j
P.M. 115 U.1S
7IH 74 'i 7I'I
UflK UhK US'.
JliOO O M i St 1' rfd 4lja. . Vi, MH U3U
2000 do sen 4a U2H U2S U2H
111 cv Tia ""7 2V7 ""7r
t I & 1' rfd 4a 714 7IU 714
OsBa 7HH 7SU 7KU
rnnnn .tn nmv fia
100O Chi Ot Weat 4a, .
200(1 u 11 a w joini ii
r.iHio dn
noon c It 1
Tiniui tlty am htk tru
221100 Litir or raria oa .. ."'V ..,
7000 Cumberland Tel Sa ..1004 luiw Kiilti
2000 net A Hud rouv 4a . .0.1i ln.-,. ml
1000 l-;rla conv- i ner Ji- j-
11100 Uranby Co Oa 112,,
21000 Hud t Man In 3a.... 2HVi
3000 do rfd Sa 7lti
15000 ill c u i I. .." "-
7:
112
2(1
70M
102
IISH
0!i
1(10
hfl'i
SH'J
HSU
tis;
4000 Uirlllard.Sa,... 10IS 101S
82000 liula ft N.""."" K!' K?.'
0000 Minn t 8t I. 4a . .... HO . 11
15000 Mo Kan T rfd 4a.. 3 M
52000 Mo I'ao CJ 4a 2J OH
05IKK1O do w I 4a (Uj 1171,
1000 do ct.Se- wiV, B2J4
1000(1 do cor Da IDIT 10, Jims,
DIMIU Jiw.ifc w".. .
82000 lnterb II T ret n u-i
10000 inter r aiar oa i
10000 Internl Paper Be,- 10JU
00o Japan new Q 8 4!a. JOJ.
10000 do nw 4H ... ... . . SSi
1000 Kan City Ter I at -la. . snh sjj.
2000 Klnia Co Kiev 4a. . . . fcjji S5
22(100 Icka Btael Ba liiSO.lu.lU lo.
200U I.K nn uau w 4M-J&., ''-
.100 100
11000 N Y Air llrk cvt oa.l'iil , lay in"
'lOOON TCi Hud 4a... ! 01 01?
lfiSKl do 4Ha ,,.;. Mil' iiS S
lOOMNorf I Weat 4 .... 0i ??H ?H
H OlH
tZ u,tZ
7:
112
20
102,H
IIHU
uo
1011
8H'
Sii(I
K5H
10.1,
ling
03K
llll
B5
62'i
(IK
loiiS'
vu
do pref S3ii,
Chic & North w.nsn
Col (las & i:iei . . 31 'i.
Chle It I & l'ae . . .isa,
Chill Copper 3IU
fhlnn Copper .... 70
Col Kuel fc Iron . . bk,4
Col fc South 31
Con Ons of Ilalt.t3!i
Corn I'roductR ... SHi
do pref Ilni.j lUUi
Crucllilo Ktecl ... s.T.-i Sf.i,
do pref I'll
Cuban Cane Sugar (it)1)!,
do pref 00
Del & Hudson . . IM'.i
Den i ltio O 1BH
do pref IBiK,
Dlstlllera Sccur . . 1 1 .(.
Mice Storngo Hat. 2i'
Krlo
do 1st prof . .
do 2d pref . . .
fleneral Klectrle
Roodrlch Co . .
Oranby Consol
(.treat North pref. I IS
Ot .North Ore i-tfs 1 1 ',4
Otilf State Steel. .113
111 Cent Kid
Inspiration Con... 7H4
Int Agr Corp 2Ri
do pfd
Int Hrv Crp N
lnterb Con pfd.
Internl I'npcr .
do pfd
Int Nickel
Int Mr .Mar t c
do pfd
Jewel Tea SI
Knit City So
MV.
7lKi
S3
S3 a,
naif.
20 n
30 Vi
tlMV
II0S.
l)i,
13
13
!l.1'4
I23U
3SH
HSVfc
12(1
3l"i
3SH
SI'S.
70
37 ')i
31
)
f I
Mi
a.
4 Vi
-t S'.d
4 IVi
IMj
I I
IV.
M
SS'.'j
. 331,
. 131?',
. ISO
. 70!-i
.III
32 li,
.1.121
7 lift
7 V,
103','i
tnii
nii
IB
.11
'.(,
Kelly-Spring Tiro. 7l1i
. till
. 30
.1031)1
. 21
3714
. H3U
. S3
. 03
. 7 I Si
. HI1'.
.107 Mi
. 17
. 31
. 120
. 3I7
.... 17 Mi
c .. loVi
Kayser .1
Kenno Cop . . . :
Lacka Steel ..
Lake Krlo & W.
l.oo Ilulilicr . . .
Lehigh Vitl
Mackny t'o
do prof
Max Motors . . .
do 1st prof . .
Mexican l'etrol
Miami Copper .
Jlln & St L new
SI St I & S S M
Mo I'ao w I
Missouri I'aclllc.
do t
Mo Kan & Tex
do pref 21
Montana Power . . Ill
Nat Knanu-lltig .. 33 Mi
Nnt Lead 00 Vi
Nevada Con 31 54
N V Central 100
New York Dock .. SOVi
N V C & Ht I. . . .
N V O & W
Norfolk & West .
North American.
Ohio Cities (T.is .
I'actllc Tel &. Tel
1 A l'et pref loovi
I'enna It It 37 K
I'hlla Co -- Kl'Ki
I'lttHpgh Coal t c 50
do pref t c 113
Pressed Steel Car. HI Va
lliitland Hwy pref 30
Itwy Steel Spring. 3014.
Hay Cons -337!.
Heading U7h
llepub Iron & Stl. SOT!.
12
31-K,
nir
71
12
(lil.v,
lHl,
131 Mi
IS14
13
439-i
72 Vi
3SU
33 M,
I3H
ISO
701i
IllUli,
IIS
II
173
103',
7011
31-S
337,
121
7 I'.fc
nn
103
1 (Hi
HIh
113
HI
211 14
7 I Vi
till
37
103 ii
21
37
Hi-Vi
S3
03 14
7,3 V4
SIT.
1(107',
IB7A
301!,
120
33 Vi
13
14 Vi
HVh
I0V4
110
33
Oil 14
soy,
limy,
30 Vi
IS
33
111
7414
-4 Sid
UOVi
SIM.
124 I
BOM,
Oil
131 M,
IS 14
ins
4 I id
73 V.
38
33 V,
13 M,
ISO
7014
110
lis
II
173
Ills');
7IV4
sir,
32 lb
121
7116
Vj
314
4 I
.
-4 1
11)',
4
07')i
1113
40
11
113
HI
271b
7IVi
UU
Mid
103i)i
21
37 .
S3
S3
0314
71V.
HlV,
I07H
4(iy,
31
12(1
33
17
17 Ml
to'.b
21
-4 21
17!.
4 M,
I-
1
4- '
14
-4 Mi
-I 1
-4 14
1
7b
Mi
4 IV,
-4- ii
-4 V4
V.
14
4- -)i
4-2
3
3
2 lb
214
112 Vi
33 V,
Shat Copper
Seaboard A I.
Sears lloqhuck .
Sloss-Slicrrield .
So I'ao
So Itwy
do pfd
St I. & S K w I
st 1. & a w -
Studehaker . . .
Klutz Motor . . -Tenn
Copper . . .
Texas Co
Texas l'ac It It.
Tobacco Prod . .
Toledo St I. Sc W
Undorwd Type
I23V4 1IH
li 311,
Kill
37
till,
37
1117b
HI
3.1
.J10
33
112 HH14
33
230
HI 14
100
20
BHl)-,
23
311
120
111
31
33
10
230
S3 Ml
10(1
3(1
BO 14
83i
207b
12(1 ')'
01
2IV4
207 V4 207
ISV-i IH
31
Otb
..101
Union ling & Pap
do pfd
do new
Cnlted l-'rult .
I'nlon Pao . . . ,
U S C I P & I-
do pfd
1
2
. . tno
..lis
. . 3314
01
A3
U7b
IUI
137b
HI
113
ISKTb
117
23 M.
III
(l14
3H4
too
20 V.
42
33'V.
1 1114
73 M.
121
air.
Kill',
37 lb
I0V
37
115
SI
33
30
337b
1121b
HO 14
33
1 or.
230
S.I
1 non
30
BUV4
23
20 7b
120V6
01
24
207 n
1HV.
31
U)b
llll
MV.
82
nn
All
1177b
23 Mi
oi
4 2
i
4-
V4
-,
Vb
Mi
1 Mi
3Ml
Vi
V.
lb
Vh
2
M
1
14
-4-
lb
1V1
n
' i
lVb
Vt
)'(
17b
1
H
ii
Vi
1
Hi"
1
4-4
31i
Mt
-t Vb
1
U S Undl Alcohol. 1371V my, ISBMj y
lOOOO Norr fc weal ea .... uajj
1000 do dtv 4a ........ OlH
80000 Nor l'ae prior 4a.,.. OIU
10000 OntarbiPpwer B,..,B31
2500O ractflo Tel 8a. 101
7000 lleaillnar sen 4a.. .... 051a
1000 St L I M . 8 Olf 4a.. ko
10000 Seaboard A 1. adj 3a. B7K
22IWO SOUIU U,J ' i' ',, t
III
uli
li.1V,
101
03H
Hi
117 Ii
n.l
320(10 do Kt I P oa..,lMJ iiijj,
ftftOO do con Ba .........Igl 101
6000 Tbira av rei m... .j
rAAA An kt ft
Ynno 11 8 ncolly 8. . 0. 00
S34U0O l'n K of O 11 as I pa. . si
U3ti
101
so
11714
101
StH
I5W
15000 Va Car Chew (U'. . . 103
oy-iyj
Tntal take. 83.873300. com pa it d wllli
(2.IU0.U00 !' Haturdan IUI week, J 1,016.000 1
l4t week, 823.782.000.
RAILROAD EAHNItfGS
VOl.EDU. ST- IjOUIS AND WESTERN-
lum
tisa.sar
3.4V4.413
lncn
iroaaa.
lOis
322.113
Third week November..
From July 1
NORTHBRN PACIFIC
October sroaa 'M??'?.?
Fnl.iiVi::2:ffI:l
-ITallicr taM 11.777.468
nHICAOO AND NORTHWESTERN
n.otar k-ro .78.203 ll.204.SS8
m '-mm
1310.013
93.44U
3.S72.157
1 322. 6St!
a.321
asii.nw
4.lf?.tt9
2.T7S.8TI
S.798.M9
Un Itwy Inv..
U 8 Itutiber
do 1st pfd
17 S Smelters...
U S Steel
do pfd
Utah Copper
Utah Seo
Vn Car Chm
do pfd
Wabash
do pfd A
do pfd H
Wells Fargo
West Kleo
West Mel
dq pfd
Wheeling & U K-
do 1st pfd ....
do 2d pfd
WIUyu-Qverland -
do pfd
White Motor ...
Worth Pump . . ,
do pfd
II
07
HI
70 li
120V,
M.
W
II II
00 Mi iMi
U3y, 114
70 70 n V.
1357. 120 M.
FRENCH DEMAND
' MERCHANT FLEET
Ask Big Sum From Govern
ment to Build Up Large
Mercantile Traffic
OLD PROBLEM REVIVED
Bnnk of France's Stock of Gold
Falls OffFinancial Situa
tion Continues Excellent
Ity YVES GUYOT
Sfflrtl Cable to Kt-rttlai! Isttorr
1'AIttS, IVc 2. The financial situation
continues excellent. It is truo that the
ntock of gold in the Hank of Krnnco haa
fallen, but thld Is only coincidental with
tho enormous Increase in gold held for the
bank In foreign countries, which has been
brought about In view of purchnscs abroad,
and so exchange may not bo too seriously
nfrecled by purchases. ,
A nuetilmn attracting much attention nt
present Is the future of the French mer
cnntltn marine. Kor thirty years Franco
has been trying by artificial means to In
oreaso her mrrcanltln marine, nnd now
there Is strong imitation that within eight
een months after tho war has ended nt
least ltJO.OOO.otio frnncs will ho Advanced
by, the tlovrrnment to steamship companies,
to rebuild their Hoots, tint less than 60,000,
000 of this sum be used on ships already
built, white the remainder bo used for
new construction. However, lfio.ooo.OOO
francs would go only n very llttlo wny
toward the rehabilitation of the French
merchant service, and especially while noth
ing Is done to remedy the onerous laws
under which ship own.-rs operate. Theso
nre coinparntile In seerlty to the demands'
placed 011 American owners liy I'nlted States
laws.
PHILADELPHIA
MARKETS
CHAIN AM) FLOUK
WIIKAT lln-elpls. 11(1,223 tmsl.els. Aflr
npentnu Ii- lm.-r umtrr aiM-nilallv.- lliull..tlnnfl,
which .-i.iis.-it lM-nrtMh HHH-ulultnn In nil homo
Mrnln rrntrr. prices re.-iui-reil L'c unit Hie mar
kt clniit arm. mntiitliti: lr liita. In i-iMirt
eletatnr No. 2 reil. awt. 1 . J I tf I . T I . No 2
Kouthvrn nil. Ili'.lUfl 72; sK-nuo-r No. 2 r-it.i
II.07W1 7H; No. 3 ml. il I174M 70: r.-Jcc(i-t A.
Jl.flSWi.r.it: rrj-rti-.l It. r.30 4I.H2.
CUIUS' ItriTltits. .7.10 hush. The umrki-t
was imlet hut t,-nily miller small siinpllvs. (Juo
tittlons: t'nr lois for tiwnl troil-. ns to lotnllon
(Mil western II 1 Hi 1.17. now ttreti-rn. -oo i.inl
mwl, It initio", now southern, tool unit
awn-t. 1 1. ill Or l.lil ,
HATH Iteeeliits. 20.1107 lnnK. Thoro (ran
llttlo trsitlne nml irln-s ilr.litio,l 4- (Iffrr
Incs wero Hituih- uuiitl.llons; Nn, -' white, ill
mmr; stnniliinl uhlii-. (to'4 Mftlei No. a whlto,
MHj triliic. No. I whlto. ri!)pr.iu-i nuiltt onls,
rio'i-.iiio.
rt.dUlt Itreelpts, 3.13.1 Mils nml 1.U1U.I17I
Urn tn s.-trhH tii-nutml wnn llttht stul thu
mnrkot ruh-il wenli In Hmtiuihy with tin- con
tinue,! .lo.vnwnril inovi-uiont of whoiit. (Juotn-
tlutis. l-or lllll His. Ill wooil. follow. Winter,
clour. I7.n.-if7 mi. ilii. MrnlBht. t7 hSWH.in.
ilo. iiatent. fS.lnuN.a.l: Kunss, rlonr, rotton
ni.rlo, 17.7."il(K. ilo, Mri.lulit, i-ntlnn sneks IS 1Ti
tlN.MI. ilo. luiti-nt. lotton s.teks. IS.lllllfll it.1,
sprlnu. Ilml clenr. ISk2."i; .to. imtent. IS.7."
H.2."i. .In, fnnirltn liriin.ls. H..'iiitL7ft: -lt-mills
ami fnnry twtetit. In riflirn 7.. .niy nillls,
r.'KUliir urailin Winter, lour. 17.."iiili7.7.1; ilo.
KtrHluht. SWN2.. ilo. lutrnt. Is -J.-Vf s.f.u
IIVI5 1'I.Ol'lt snlil iilowly nt loriner rnlrs. Wo
iiiuto 17. IIOUs. "il i-r hhl . us to uuiillly.
PROVISIONS
Tlio tuarkrl rult1 (Inn. but ttmrn witf llttln
tiVllm;. tjuot'iUiini: I'tty lifff. tn mttn, niunltftl
anil ntr ilrlrtl. 31c; wrutern twrf. tn vti.
mnnkrt, 3o, city ltt, knucUlcn inn! lenl-ri,
nniokccl nntl air ilrlcil, 3Sc; weatrrn lwf,
knuckla nntl tvndcra, smokil. UTtc. bntC hum.
C'httau: (vork fninllv. iSO.autfSI ; htuna, H. 1.
rurnt, .ojne. llh VSOc. !'. k.nnwl. tonne.
1'iiffjii'ir; ito. l. ainukrtt. VlWllUjC' other
Jm him. Hinokftl. city turctl. hb tn brumt umt
iiVi-rnKP. Jlr. Ji.nns. nmokfil, ivplirn riirw.
JtUt; ilo, ImiIIciI, tHHtflrai. 31c. picnic nhouhlTx.
H I, curt'il, loot,, IIV: lo, iftnokcil. IJV'.j: Iwl
11.", In pickle. Hrrortlltisf to uvrrnitt. loom',
17Sc, tirrakrimt Imtiiti, i to brantl mid u cr
ams city curril. !c; brt'ukfaat Iwifun. wrntern
! I. 'J'Ji' . I.t nl. vvMtrrii. rctlnril. t('M. 1K4D: ilo.
ilo. iv. tun. IHhi-i bird, pure rlty. kettlii rrn-lcr-il.
in tea, IHSu: l.ird. tmro city, kottlu
rentU'reu. irt tubs.
Sales in Philadelphia
ftfl Am Ilya pf 07
S7 II & X t c. 70
100 O It 1 A V. 39
80J Kleo 8tor. 7J
10 O Asph pf 71
20 Ins Co N A 47
7s0 7.k Sup C. SI
ISO l.eh Nov. . M
1.1 I.eh Valley M.
Joo Nov Cons. SI
IS .V Y 0 3HV SI
Jll I'enna H It m
SS I'hlla Co.. 10
In .lo cum pf 4Jt4
!30 I'hlla llleo 20".
1000 i-iiT tr cfs 27 V
132 llenillnR
soo .so Hwy
liw.
07
son
so
7t
72
27
SOW
S7,
s.tt
SOW
SI
57
40
U
.1121!, llJ-H, I12H
30 20 30
Close.
7 Mi
70
art
I 72
27
SOW Vi
SI
ehite.
H
H
1H
W
ss-M
St
SI
S7H
IA
47 li
20
27U
Vi
-
Vfc
1I2S Ton Uel... Stfc S ftU
too Ton Mln.. flVi Si rtVi
323 fnlon Trno 4S 47V4
o Cn (7 Imt OlH 0IVi Dili
300 t? Steel. UnVf, 12371. 1231W
2 do pref.121 MI'S, 1211,
SO Win Cramp 02 V4 1)2 92
Tntsl sulfs, 12,3(11 shares, romnsrril wllK
-I
1Vb
1-ia
M-in
M
' i
v
M
tB.nM shnres tnsl tstiirrisy
rnnrrsi insi nren, iii.son
S c
n this
shsres.
nrek. 13A.S2I
t'lo(.
Not
chso.
oos, oms. if.
10314
ItiSifc
I03fc
103W.
JH -i V4
iiiinhs .
-.. . . .- . . ttlsli. lw.
HI1I0 A UK1-; &S WOIJh
200 City -la .
loir. ..'10314
1000 ilii 1943.10314
2S00 Kleo & I'eo
Tr Is . . S3
2000 t,eh V cons
I '.is '0.1. loo?; loo,, iorti
4000 l'a Co cons'
4'js .. 10Ci.l064.106H. .H
7000 I'hlla Co
cons Ss, 02 V4
looo 1'h Kleo Is no
loooo Head kii 4s u.1
looo S'p.Am I nst02
ltooo t'n Itwya
t Is .. 72
(100 Welsliach
Co (is . . 00
ftOOO W N y ,t
I'.l KCtt
024
00
103
72
02 M
00
03 H
102
72
14
00 , 00 00 Vi
MV4 Hi4 3 14 4- V4
, Totnl silis. SI0.SOO, rnmoiirrit will. t33.30O
lust KnturtliDi this week. S.tlll.lCMli Inst urrk,
.1(M1.2II0.
Local Bid and Ashed
Toilnr Yrsloritny
. .. lll.l Askv.1. 111.1. Askul
Ilal.lnln 7im 77 77 77t
1 1 rill .13 as S3 33
Hun A Mm 1 . 1111 711 osW imS
. ilo href Ml 1111 no
HI.- Mlor.iuo 7t' 72H 7t' 71,
(louorill Asiitmlt .... Sill. 31 Vt till. Sth
.to I'ref 7lVt 7L-'4 US 721.
Kustnnn Tel n't 14 13S II
to t v i:m 11 taVi 11
to nfil lli'V, nil 11; 1, il'.l
Lake Sun Corn :11m ii anS 31
Uehieh Nav H7 M74 Nil. S7S
l-hlsh Vnt ss s.Hj K2 N'jtt
Lohlah Vat Tr 22 22't 22 22
to I'M laVi 4 4 4:iS 4 1
IVniu II it 57 37i; 37 r.7'.
t'hllii llloo -ju'i Uli4 211"; i!4
rnlla Cu til 47 Id 47
to f. i-r cent rfit 37 4 31 111
.In (I nor cent pM. ... 12 424 424
I' It T t c 27't 27t 2I1S 2,
Itrmlllnr 112. I12t ltl's 112
Tonopuli llrliuollt r. llll Ms ri r.'
Tonoiuih .Mlllllu! IIH UU 't UU
t.'nlou Traellon 17. 4s I7S, 47't
1' (Ijs lint' HI IU V lit IM'i
tr m. steel rj.-,', laot, is,, isn
Vork Itwy tl 11 It 144
to href 304 37 3iti 37
Will L'riumi t e U2 1124 02 113
Isc.
RKFINI2I) SUGARS
The tiisrkit was olllet unil uni'hannoil
i;K(ra nuo RrnntiliiuJ. i.iau
7..'..1W7.0iic; ronforilont-rs' A,
121 1SI14 121W V4
isai 123 UfliJi 3V4
27 2V4
40 4oi
III III
1314 1574
60 30$,'
32V4 31i
110 TS0V4
03 03
31 2H
48 4H
4V4 2V4,
7 n
4 74
SlHi 36
00 00
6 4 ',4 S4V4
311-i SIVi
at si
V,
14
JS6
94
Y
.
114 ..
1374
00
32V4
110
as
SI -t-314
4HV, S94
,ni
7 1
3V4 V4
3J4 .
00 -J-
Ssil
SIN Vi
01 -- 74
flners- list iirlera
7.. -, no: tiowueroil.
7 33tf7.40c; soft BrHilea. U.7UIF7.S3C.
DAIRY PRODUCTS
llt'TTIlll Domunit wnn lluht nml nfferlnss
wore ample. I'rlcei wero without Iminirtnnt
chjniro. uuotstlonii: Western, fresh, wollil-imrkcil
creumery. fancy at.eel.ilH. I2e, exirns. lotpllc;
extra llrsts, 31ic: Orsts, 37e; socunilii. 3.".-; reno
ftteil. otlrn. .'lie, ilo. Urals, 33c: lo. aeconila,
3-.V, laille-i...koil. ill (f 33c. nniklnit stmk. 311
3lc. nvurhy iirlnta, fancy, 43c. a.orni.-e extra,
lltrT.'c, flrata. 0711 3!lr. socomla, S3t'3llc:
anoclal fumy brntula of prlnta JolililliK ut 4U
ii inc.
KUllS l-'lne freah ciuta rul.-.l firm with sup
plies well cleaned up, hut aturaxo cuus
wero .lull anil prices fa.vore.1 buyers.
Uuotatlona nre us follows: Neathy oitrna, I no
per ilo.; nearliy tlrala, 113. Ml inr cnao: iioorliy
curre.il recelpla. 113 20 per cute: weaiern cu
tras, llio per dux.: ilo. extra llrats, ItS.f.n per
ruse; ilo. firsts. 113.20 per cane; refrlKoralor
-KB, storiik-e unil tiiaurnuco pithl to Jaiiuury. 1,
t-xtru. III. to per cato. ilo, tlrats. llli.MI per
caao: do. aecomla, 110.21, tier cusu. fancy aoloct
cil camllcU fr.ali .-una were Jol.blnir ut SIMOlc
per ilnx
l-(i:i:.MK The market ruleil steady under
moderut urtorlnca. hut trade was quiet. Quota
tions: New York, full crcni. fancy, "34 IP
2Mtc; apoclala hljfhcr, do. do. fair lo good. 2IU
tp2l4.'.do, part skims. 1321c.
POULTRY
I.1VK There waa little tradltiE and no Im
portant choliuo 111 prlcea. We -plote, Kuwla, ua to
nullity, lit;' 17c. rooatera. 13WI le: sprlnir chick
ana, accordliiK to iiuallly. 13trl7c: White I.m
horna. arcordlnir tu uualliy. llWH'.c; ducks, as
to alio and quality. UltClKc, turkoya. -'u.'.".'c;
iieeae. HIWlHc; pigeona old. per pair, 2HU30o;
Uo. "unt-. per pair. 20W23c.
liltKMSI'Ui Tho murk, l waa dull with
fairly liberal orfcrlnus at reiently rvlei
Krlrea. (luutullona are as follows: l'reah
llled, dry-puckeil turkeya. per lb., fancy,
miurby. 2il2Sy. ! fancy weitern, 2327o;
fair to unod, 221f2lu, common, 1SH20c. Kuwla,
l! to tu.x. dry-plckeil. fancy aolectrd. 2.'lltc;
lo. .Ttlvhlns I'tW'' Ilia. aple. e. 23c: do, 4 Iba.
n piece, 'JtVac: do, 3H U'S. apiece, -'tic; do, 3 lbs.
u piece, iHc. Kuwla, In'blila., Ice-parked, fancy,
dry-picked, welihlne 4!t W3 Ilia, and over nplrce,
22Vi e; weleldntf 4 lbs. apiece, 21r, amallar alios,
lllUISc. Old rooatera. dry-plckrd, 17c, ronatlns
chlckena, western, dry-picked. In botes, welgh-
Inir lla. and over, per pair, --ic. roaaunv cnick
weaiern, tn boxeg, .vemhlns 7 Iba. ir pair,
Kent, weatern, ico-pacaeu. in
H Iba. and over, per pair, 24c:
23o; roaatlnu chlckena,
nn
weatern
1,1,1a.. .veil
rontllnf chickens, western. In barrels, wel th
in ir T Iba. par pair. 22c: brnlllnK chlck
ena, weatern, In lioxea, welvhlng 3UI
11. a. per pair. 20U27c: chickens, welvhlnif
Mnl Iba. per nalr. 20it2tc: do. mixed aliea.
2IU22c: brollera, Jersey, fancy. 30t32c; broil.
era, other nearby, weliihlnt 1H w2 Iba, apiece,
"Ktisuc: hrollara. nearby, amaller alzea. '26ii'2T.
bducka, nearby, aprlnir, 2224c. do, weatern. 20
t)c: icvif, wea.er.i. liwinv. vtu.v,, or uu...
white, woiiihlne II to 12 Iba. per dot., (3.7AW
II. while, welghlnir U to 10 Iba. per dox.. 14. S3
TOTAL CLEARINGS LARGER
Gain of 13.7 Por Cent in Week Phila
delphia's Smaller
Hank clenrliiRs throughout tho country
for llio lost week wero JB.022. 31 1,401. com
pared with 51,940,7(10.440 In tho rorresponil
InK week of Inst year. Philadelphia and
Huston allowed declines. Tlio smaller clenr
Iiikh were duo In InrKO measuro tu tho fuct
that TlianksRlvInK Intervened. Details fol
low: lotn. loir.. re.
New York. ..12.7311.323 001 l2.n2IMW3.14l I- 1.(1
lloston 1112,(1.13,133 171.412.3311 3.1
1'hlla.lelphla. SIII.Nnu.mil 2IHI.333.12II 0.7
llaltlllllSo .. 33,117 1. 311.1 41.4S4.2III 1S.K
I'hlenK.i 33li.3lll.77M 31H.II83.fUlll - (1.7
Ht. Louis .. 113.113.021 SI. 4211.237 4-14.7
New Orleans 32. 3111,21111 2.1,111.1,431 1.1.0
He.rn cltlt-s,
3 days $3,003.831, ltIS 13,400,00.1.320 4- 4.0
Oilier cities.
.1 !3S.... illll.llis.,111 I.III.III2.4I7 -f- I.I
Tola! nil cities.
.1 days 14, 300.032,1102 11,107.310.737 4- 4.0
All clt lea, 1
da I.,.MI1.278.I3I 740. 1 10,703 07:rt
Total all rlllra
for work. .13,022.311. 101 1.040,700.4 III 13.7
Local Reserve Ilnnk Statement
The conilltlnu of the Keilprall l(eaerv Hank of
Philadelphia ut tho cloae of hualnras DocemlH-r 1
iomparos ua follows with the prevluua week:
iiiisotntcns
Dec. 1. Nov. SI.
flolit coin nnd certificates
In vault 11(1.010.030 117.000.130
Cilil Helllelnunt fund
bnlanco l.l.Sja.OOO
fluid redemption fund . . oii.OOU
1-Kl.l tender notes, all-
vrr. etc 20H.0II
Total reserve 32,Mllil,sli
Commercial paper 2, nil, .1311
Hank acceptance 12,013,303
Total bills iiiscounieu
and liouaht
H. Iionds and notes
13,333.1111
2.NII. (lllll
1..-.UI.7S1
13.537.000
,10.(100
2(111.11)1
33, IHII.I121
t.43.1,Ml4
12.11 1 11. Mil
11.4112.755
2.N 1 1,00(1
1. (11111.71 H
t
Municipal warrants
Totnt lneatmcnts . .
1-Yderal reaervo notes on
hand -,.-,
Notes of national banks
unit oiher Federal Ilo-
aerva banka
Al other resources
Total rraourres 1.11.327,51(1 133,703.787
i.iaiiii,itii:r
Capital paid In 15.227,50(1
11,318,781 tl,313.71H
"1.200,043 88S.273
2(1.300 20.31.1
40(1,31(1 481.871
Proltt Hnd loaa S-. inj
Iteiervo deposits net . . 31,721l I2K
Covin nment depoalla .... .I.7.1UI84
Dun from other 1-edernl
Iteserve bank net 3.771.123
All other labilities 700
13,223,8.10
42.48'J
40.8H2..1I17
3,31111.7(17
4,238,810
2I.2HU
Total liabilities
.151.327.5111 I53.7U3.7H7
S13..10: while, welahlmr 8 Iba per doz.. 114(4.31
7 Iba. per uox.. la.auvpa. io, uo, uo, uip
iuxr
do. do.
Total sales. 098,500 shares, ronimirrd with
760.000 aj.area last 'S'H'ilt'-nihls ck,
5,S'J0,500 almrtat Ut week, 0.210.600 aharea.
DI1DENDS DECLARED
ConsuoMrs' Pww ConuwiBy (HlchlEa0). regu
lar quarterly, tU Par x?t on tho pr.f.rrsd
stock, r-ayabta January 2. 1017. to boklara of
?wrd lcmtr 18. 1910. Itopka da not closa!
UUbxAP' ousrterly of 2 ol. payable
January "to atoek of record Damalw It.
ilaxlcan I'atrolaum Connwoy, Limited, xat-u-lar
quartarly of 2 par cent on preferred atock,
tHiyaMa January 2 to stock of record Decan
ter 13- i
GOVERNMENT BONDS
nu
2.. re.UUrsl. 18S0 m
pd :mi-.:-.::::-:::::::iBH
:h
2.
i artnifbaMl. 1 lit 1
a mnrum IHb . . .
viam v M!A
Wm&Sms
l3tt
reA 1S3J4
mmL 'iuvwU
tS3r:.:r;
Aalw4.
100
lOtV
iio;
tio
1W
192
'
H Vi lbs per dox.. S2.73C2.UO: dark, 12
2.V0: small und o. 2. OUcfiitt.23.
FRESH FRUITS
Demand was only moderate, but the market
ruled Ilrm on choko atoek of moat deacrlptlona.
Quotatluna: Apulea, per bbl Jonathan, I4.50O
uoiuvi,.ii,oiiF,.u, lu.s luiperiai.
. I Irlm.a1
13014! Ueil Dam. 12 ouara. iiaiuwin, jmo. I,
13.751' 1. 25'. do. unsrade.l, 2-SUt'3..10j tlreen
Ine. Kn l. xl.fiQOS: do. unsraded. 12.. 10 st
4: klnjs. No. 1, 1405;TKlnsa. unaraded. 2.50
o 3.5u: aiaman. No. I. IJ.iut J; Htayman. un.
uraded. I2.3UK3.30: Wlneaap. Nu. 1. 4tr3i
iVlncaap. uuErauan. i- ouiea.oo. ppiea,
Eicaaa. uncradad. 12 3UV3.00. Apples, per
bbi,, rair .o sooii. xi.auta.au. uo. norinweairrn,
Ir boX41.aurE.oll, lemons, per dox. i:i
Uranirea. Florida, per crate -Drlghl, 12.7503
lluuat, 12.ui102.73. urapeiruii. noriaa
crate. i.oura uu.
I.V.I - I4S1 natf Ijtaa .!
ayo.ou. L-'ranuerriaa, Laps luu, par crate, 12
2.40- da. Jersty. dark, par crate. I2U2.4U:
do, do. Ugbt. par crate, II.30S2, 1'ea.ra. New
IMUUmtC nWMI, .UUUr, QUI.
473.
Cranbarrlea. Cape Cod. par
rlatlea. IUO0, Harly lltack.
1390.50. Cranbarrlaa, Cape Cod, par crate, 12
T2.10: 00. jersay. oars, .par crate.
Vn.. nr l.tish
doa. '11.5002. IVara. Kalfars, per btl., 12
VEGETABLES
Fotttoes war qulat sod barely steady. Fancy
stock and otbar tarletlea waa generally firm
with demand fair. Quotations: Walt potatoes,
par buab. Pennsylvania, thole. ll.UJOl.70;
New York, choice, tl.33tfl.00. whlto putatoas.
Jersey, par basket. 84cMll; fwja t potatoas.
tlaalern Shora. par bbl. No 1. 12.7303: No. 2.
11.50492: Sweet potatoes. DuUwaru and Slan
laod, par hamper t(-2S(8150: awaat poUttws.
Jeraey. par basket No. 1, 73. No. 3. 40
Hoc; onlonspar juo-10, pas -o. 1. 13.7304.
y.ov. vaouaaa. ?
No.
13.731
.per ion.
eiiaatUSJ. 4n ilnmaall,. ramt Inn I 1A H K lallii...
UVlVUdj W, IWIMMkls. Hi w, TVTiV, Ul,
UMMl, Ji-OVWif u. UU, VlfBlftia.
lyTWfi.su, uv,
North Carolina n-n
v.. '":".-" ..'
rtvonusA,
uaalx
. wr
i'loriJ. Pr Uiiktt. I
twr LjMkct. aucapii.a.
Ljskt. 40cBIl: beam. Florttl. Dr baakitt
1.G03; tgplant. Flu r Ida, wr box. tS.2303;
KBPera. K lit . Vr MU4. fa,4lVff Ii
orWa. wrC, ll.7S23. pa. or
pikt. I3B0O3.
BAB SILVER
Cpmmorvlal bar llver was quot4 in
Kw Tork te4y at 75U?. an uptjjra of o.
In Iwuloii Out m-ice waa 36d, un JJ J,
FOREIGN EXCHANGE
NKW YORK. Dec. 2. Tlia market for
forclt-u exchange opened dull, but in tho
main sternly, with the exception of denmin
oxclinnite. llelchsmarkH wero offered ut
60 11-10 without takers Checks, thu quo
tutlon of which Is entirely nominal, wero
called nt 00 0-16; Vienna, although equally
iioniliial, appeared n shade above the ex
treme low record at 11.62 for cableu and
11.60 for checks. As a. matter of fact Teu
tonic exchaniro conditions nt tho moment
n ro no. obscure that quotation! havo little
real value.
The test would be afforded only In case of
actual business. Itubles under cold Im
ports Influences moved up a shade further
to 29.80 fur cables, ;9.70 for checks. This
is a recovery of nearly ?o from tho low of
previous strength. Quotations follow: lie
maud sterling 4.75H, cables 4,76 7-16; 00
day bills nominally 4.71, 90-day bills
4.69'rt i franc cables 5.834, checks 5.84i j
lire cables 6.74 M, checks 6.76 '., ; .Swiss
cables G.164, checks G18; pesetas cables
20.63, checks 20.53 ; kroner cables 23.50,
checks 28.10; guilder rabies 40 13-16, plus
1-16, checks 40H.
RATES .FOR MONEY
Time.
2. M4W
54.8A"
i 4H
,UIH
Call
New York, 2 ,UH
Philadelphia 4
Lnaton S.Vffl.,
Commercial papar. three tu all moutha. Phila
delphia. 3Hi3S Pr cent.
BANK CLEARINGS
Hunk clasrlnsa today compared with parrs,
spoodlo- day last two years:
1910 1013 1014
Phlla f07.3ir.M6B 139.303,133 124.333,607
Has on ,..37.301710 .11.1172.1121 22.lri4.434
New York. ..6M0.687.tw3 434.6ta,114 233.130.408
LIVE STOCK QUOTATIONS
CHICAGO. D. 2lKXlH-ltecelpts 13 IMIO.
ifarkats slow. 6s bUbar. ajlsfd and butchers.
JUOU.05. rood heavy. Ju.40C'llo. reuati heavy.
I'ATrJ.'B Uecelpia 1300. Markets stow and
steady. Useves. 17013. cows sod heifers. I3.H0
4310: atocker and feeders, II 6017.78, Texan,
17 7320. c"s- S 73913 30.
SHEEP ft!Pts. 4000, Marketa alow and
ataady Native and waatsrn. 18,2300.10. lambs,
8.80tl?-70.
NEW YORK BUTTER AND EGGS
NEW YORK. Ic. . BUTTER 74ai
a iv! tuba, too grade of frath butter htl
uens owar
ft1??''
Kaneiui.. but aulat. All othar Quotations lawai
"-t "a. -i. ..I - mA . o...l -.TilT."
c.sn sftmiMir, c, owm iiairy,
Ualtatioa. creamery, tiottfit.
;ecli)ij. uta esses: markat alay i
on Mstt 1,'faa.s. am. s- m ririsrawr. n. j
RAPID TRANSIT TRUST CEltTIFI&ATf B
ARE MOST ACTIVE IN LOCAL MARK
Understanding Is That Daily Earnings Are $10,000 Ahead ,
of Corresponding Period of Last Year Nothing
New on Pennsylvania-Navigation Deal
If It lind not been for rhllndelphlft lUpId
Transit trust certificates thero vould have
been very little to discuss In the t mill ok on
tho riillndelphln Stock HxctmnRo In the
short session today. Krotn tho start tha Is
sue wns the most nctlvo nnd before tho
closo 7000 shares had changed hands.
The first transactions wero nt n small
gain and then part ot this wns lost on
succeeding sales, only to ba recovered with
a further advance to 27H, tho high point
of the day nnd n gain of nearly a point.
Nothing wag heard In tho Slroet lo nccount
for die gain, but It was generally attributed
to the known good earnings. The Street
understands generally that the earnings nre
about 1 10,000 a day ahead of last year,
I'nlon Traction nt tho same tlmo ml vn need
a half.
Another Interesting Hem wns the ndvance
CURB ISSUES STRONG
AND FAIRLY ACTIVE
Rcnlizing After High Levels Aro
Reached Does Not Do
Much Harm
NKW VOHK. Iee. 2. Trading In the
ninrket for outside securltlen todny devel
oped fnlr ncllvlty. with tho general under
tone strong. While somo realizing was
shown nfter high levels were reached, re
actions In nearly every Instance were of
small proportion,
llnrtuinn Corporation, for tho first time
In a long period, developed pronounced
strength, moving up to 80. Mldvnlo Mlcol
advanced . wiillo t'nrwen Ktecl, on In
censed activity, moved up . United Al
loys Steel, on rather heavy purchases, roso
pearly n point.
' Oil slocks wero strong, hut Interest wns
generally confined to tho Independent Issues,
which developed moro ncllvlty nt substan
tial advances. There was especially good
demand for Oklahoma Producing nnd ltetln
Ing and tho Cosden stocks. Tho Standard
oil Issues wero moderately nctlvii nnd
higher.
Motor stocks were nlmost neglected, but
somewhat firmer. United .Motors Improved
. Alining shnrcs were firmer nnd nctlvo
In spots. Bonds cro steady.
INUU8TIHA1.H
Aetna llxnloslves ."
AiiK-rlrati-Hrlllah Manufacturing. . ,
American Marconi
American Wrlllnn Taper
('aniiillsn Car Co
Can Cur Kily jiref
charcoal Iron
Chevrolet .Motors
Curtlss Aeroplane
Ilmrrsmi riiunograiih
Ilnski-ll ti ltarker Car
llcniU'o Mamifacturtnu;
l.i.tho.llou Unitize href
Laurel (Ml & (III
Maxim .Munitions
Manhattan Trans
Mhlvalo nteel
ills Klevator
Peerless Motors
I'lioto Knir
H H Kresiro w I
Htnmhirtl .Motors
Huhniarltip
TrlaiiKle Kllm
t'nll.-il Alloy Htccl
Ulllte.l Motors
I'lilteit 1'rollt Hhiirlnn
11 S I. II com
ilo pref
World I'll!
ItAlMIOAD.H
Hock Islam) coin . . . .
.lo A pref
to II pref !
OTIIHll Oil. STOCKS
Cnntlell (111
Conilen A Co.
Inter l'etrol
Houston (ill
Mhlnrat IteflnlllK
Kupulpa llcnnlntr
MlNl.N'd STOCKS
Atlanta
Ilutto Copper A .Ino
Ilutto N Y
Cerro ilo I'asco
First National
Florence (lohlllelil
(lol. Kiel. I Mcriter
Ilerla .Minim-
Howe Souml
Jim liutlor
Jumbo Hxtctialim .,
Muamii Copper
Mines Co of America.
Nlplsslni:
Kan Toy
HI Joseph Lead
West Hnil Con
Whlto Oaks
Hit. Aski-il.
K tl
fj 'JO
:i, :i;
U 74
41 40
SO H.
s si;
;i 17.-.
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B4 .'(!
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lift
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as
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all
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a 4
:Vi
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ji
HONDS
Cerro Oa
Ml.lvi.ln lis
Itusslnn (IVis
ito I4h
Unlteil Klnxitum SVia a years.
ilo Ala s . years
Trench -Municipal (la
.ISO
. 07 S
. imS
. 04 ,
. I'lSi
. IIH
. oo!i
1
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nsU
07
NEW YORK BANK STATEMENT
Average nnd Actual Loans Decrease.
Surplus Less
NKW YOmC, Dec. I. The Now York
bank statement this week shows a decreaHO
of $52,400,000 In tho nverago lonnB nnd
$46,424,000 In tho actual. Demand deposits
and surplus decreased In both cases, while
tlmo deposits Increased.
Details follow:
AVKflAOK
.13. nut. ton, non
alls. 3,.HI1.1,.1:'U,0(IO
1,11, .UU.IMMI
Jll.o 11.0110
t3S7.80S,00O
Iinni
Net demand ilepoalta
Net time lciosns. . . .
Circulation
Ili'scrvo own vaults..
lleaerve. Federal ro
aerva banka
Ileaervu. other deposi
taries AKKreuato reaervo...
Itreertu required. . . .
M-i . Lv ..-.,.; ftin . i..
TUl wniin fa-o.uui.ui.i, is .V..IV.
ACTUAL
Loans i:l.370.00.O0O
Net demanrt deposits. 3.V77.015,(IOO
Net tlmo deposits..
Circulation
Iteserve, own vuulta
Iteserve, Federal re
servo banks
lteaurte, other depoal
larlea
Asuresate reserve.
HeaervH rniulred...
Hit which H-'0. 430.000 la apecle
rncreaaa.
Dccreaae
1.18. ir.ii.oiio
N4.SaN.000
3.U42.000
1104,000
1K,B33,U00
lOO.OSs.OOO 8,118.000
n4.slft.000
1111.71111,00(1
8(10.171. ami
-t.ooi.nij.j
17l.44H.OOll
2U,ll7H,tmu
t3o0.fi03,O00
1,000.000
SK.KllJ.OillI
14,4'.'ll.:ilUl
14.433.U4U
ir,424.000
74.UIIO.IHIO
S.4n,(ll)U
470,01111
8.401.000
10S.03D.000 10.332,000
HI. 1111,000
(111,1. Kill, (llltl
Bill, 7011,(1110
4i.oui.aiu
s.oso.noo
SU, 03.1,000
is.SMi.ino
17.013,030
NEW YORK COFFEE MARKET
NKW YOIUC, Dec. 2. The, market for
coffee futures opened steady this morninr,
unchanged to 1 point higher, Trading on
the call was quiet, eales amounting to 2000
baga.
Trading was dull during the middle of
the morning, with sales only In March and
May. The market was featureless, and,
while there seemed to be a little trade sell
ing, outside Interest" easily absorbed offer
ings. An early estimate of the world's visi
ble supply placed the Increase at 400,000
bags, compared with a decrease last year
of 32,000 bags. The local spot market was
quiet and unchanged.
Today'a
opening.
Today's Yesterday's
close. ete.
N'ovemoer i...utFo.ii s.Birj'S.s-j
December .- K.n.ies.11 S.0008.10 H.ooAg.ii
January ,.,,8.0(1 8.148.111 K.lRgg.si)
February - -.- 8.S2J8.SS 8.S0.27
March ..... 8.3388.33 S.SOfs.HO 8.43s.44
April ,....; - 8.3I8S8 h.428.43
May, 8.4H8.30 h.44jl.4,1 K.4urt8-Sll
Sua 8.SIOI.S2 8.88007
Jul 8.6088.03 .... tt.tltf8.IU
August 8.02f8.R3 tt.mSfc.lK
Saptambar , 8.7008,73 S.li.lfs.dH 8.718.72
Oilobar ,.... .. 8.71$8.7'J .7tf8.77
Uld. Total satas, 18,730 bass.
Sugar la Unchanged
NKW YOItlv, Dec !. Flna granulated
sugar was quoted at r.75a and 7.50o today.
The, last sale of spot Cuba raws waa un
changed at 5.44c-
mitEOTOUV 01' ACCOUNTANTS
Cartlfled 1'ubllc Accountaota
CO.
LiWltENCB K. BROWM
1818 HAl. KaTATB TRUST IIUILOINQ.
iafu
whmtAtm
In lliiff.-ilo and BusqueliannA common to
70, n gain ot H nnd a new high mark.
This was accomplished on tho turnover ot
comparatively few shares. Throughout Ut
list tho movements ,ln prices wero mixed, ,
nnd they wero for the most part small. - '
Nothing new was lieard In tho Street
regarding tho Pennsylvania, ltAllroattWi'
high Coal and Navigation deal, vrhre,b7
tho former was to nequlro a half Interest
In tho Irflilsh nnd New Knaland ItnllroRd.
Navigation shnrcs were unchanged nt VS.
Considerable Interest Is attached to re
ports of what the rreslde.nfs messaga to
Congress would contain. Jt waa said In
the Street that the .message would Btronsly
favor tho railroads; that It would recom
mend nn Increase In freight rates; arbitra
tion of labor disputes, nnd that It would
favor a combination of American matin
fncturers for purposes of foreign trade.
ASQUITH FACING
NEW WAR CRISIS
Premier Sitting on Volcano
of Discontent, Says.
Bottomly
FOOD PROBLEM SERIOUS
Hy FRANCIS V. HIRST
Slipcldl t'nMe fo Jvi-'slno Lrdotf
LONDON, Dec. I Tho financial editor
of the Morning J'ost describes your Federal
Hescrvo Hoard's nctlon n.i well Intentloned
but crude, nnd even nmatcurtsh. lis hotda
that It Is Imprudent for nny money market,
suddenly nnd without warning, to curtail
tho credit of tho country's; chief customers,
lniportnnt debates on war nnd pcaca poli
cies may bo exjiectcd next week, when I'ar
tlnmcnt discusses the man-power bill, which
provides for a form of civil conscription,
nnd votes on n new war credit. Independent
members of the House of Irfirds are con
slderlng tho ntlvlsnblllty of pressing re
doubled nttneks upon Individual Ministers,
llottiimly, who says just what ho chooses,
declares "Asqulth nnd his colleagues ar
sitting nn n volcano of tho nation's dig,
content." This sort ot language pervades
John Hull, which la n popular auxiliary of
tho Daily Mall.
Krnnco lit January will ba spending
3,832.000 dully, tho Krcnch budget state
rriont shows, nnd Interest charges on tha
new French war debt now total 1100,000,000
per annum.
Tho food supply problem engages general
attention. It depends upon the exportable
surplus of North America, Argentina, India
nnd Australia during tho next sir months.
BUYING OF STEEL
SHCWS NO LET-UP
Many Important Railroads Are
in Market for 1918 Re-
qtiircments
lluylng of steel prodflcla has not abated
to any extent, according to best-Informed '
steel authorities, and, In fact, tho last -wees:
hns witnessed a fjreater demand for soma
products and moro prospective business In
sight. Tho leading feature of tho market
ut present la In tho demand for steel rails.
Many at tho moro Important roads are In
tho market for 1918 reaulrcments. and do-.
spite tho high prices prevailing the opinion
1.1 general that thoro will be no materia) de
cline In tho volume of orders to bo booked
for 191S In comparison with those taken
for 1917.
It la explained. In the steel trado that
tho railroads of this country had been
holding off making tho necessary repairs
to their roads because ot high prices and
tho abnormally largo tonnago they wero
called upon tu handle 'In recent months for
tho movement of freight In all elections ot
tho country. The managements of the vari
ous roads apparently hnd been hoping for
lower steel prices nnd a let-up In the heavy
movements over their lines, but theso two
conditions have not materialized' and tho
result has been that they nre now forced
to cover tholr requirements In order to
keep tha efficiency of thu roads aa high al
possible.
Further advances In price for various
products were mado during tho lust 'week.
This Is especially truo of thd pig Iron mar
ket, which Is showing Increased excitement
from week lo week. Largo consumers aro
buyers of Iron and tho foreign countries
nlso aro In the market for additional lots.
Franco and Italy havo taken Oreat Drlt
aln'H place as tho leading Kuropcan In
terests In the market at tho moment, but
tho latter also Is said to bo Inquiring for
largo round lots.
Homo officials of steel comnpte-i ar
maintaining that the present situation la
causing them anxiety, due to tho tuct that
tha demand from week to week Is larger
than the production, and there Is still much
sifting out to be done In order to supply
tho steel to those who are in the greatest
need ot it.
14 a y
S
a-AYl
PUBLIC SERVICE I
SECURITIES
Q, Dubuque Electric Company 5
1st Morttjiije Gold Bonds,
CI, These bonds, due lit1 9 yeirs. ar
an absolute lit Mtt'e, on the entira
electric lighting, power and street rail
way system of the City of Dubuque,
la,, and vicinity.
1, Net earnings fbr past year in cxctsi
of twice the bond interest,
C The Company, in so far as it lawr
fully may, agrees to pay the Normal
Federal Income Tax,
CL Legal Investment for Maine Say
ings Banks.
C, The replacement value of the prop
ertiej is Ssttmated over $3,000,000.
C, Price 97 & Int. Yield 5.45
Becker. Ayling a bng
Land mid fadg. Philadelphia
EMPIRE GAS & FUEL CO.
(tt Sinking Funds G's, 1316
Price 100 & Int. to yield $
HELLO n a PETRY
Members K. V. S 1'blla, Black rUtkamc
S50 COalHEKCUb TRUST 111JLDIM3
Charles J, BenAw & C&.
INVBSTMEIIT .tOflll
voTH-AgjwQNr wm
--
v
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