8
J-
t j
.
V ',
m ,ir-
HrkS
TjSisit!
Si
Jll- . . IJLllU--
M'l""' "' ' " m-ii-i , i . mi ti i ) ---i ' ! r n r '-'til nmillflii' i- r f i mill Cin .1 "-' i fl-1SL J JiafriYi
MWAShMU
FINANCIAL NEWS
SPECULATIVE INTEREST IN STOCKS
v IS CONFINED TO THE SELLING SIDE
2 IX
JsLW&ligtA
-mm
' tr-
WHf
r
- .11 II IIIIIUMHIM ' l
jfeKSoifle Liquidation to Provide Funds for Christmas Stfend-
'- JUiK xuvin,T uomes Almost wnonv lrrom
Investment Class
i
'
BHW YUIUC, UCC. IS,
WhfttOVCr BPOCulntlVO Interest Vim illntnv1 In Ihn ttitrU tnnrbat ,1nHm. tlm
lay wna confined to the selling; side, Tho room traders found plenty ot Jnccnllvo
wr nuiiing: out snort linos In tha predictions about the short time In which tho
hostilities In Europe will end, made by some of tho dermali bankers.
Some of thoaa who had sold stocks on a large acato during the last week
asserted thot the liquidation then In progress hnd permitted heavy covering of
ahofta nt pood profits and that the now week started In with tho practical cllmlna
tlon of the short account and without support from that source.
tfhoro was also liquidation to sAVo profits and balances In order to provide
funds for Christmas spending, n factor thnt always Iioljia to mako the holiday
period faVor tho bear side, Thero wan some buying of stocks nt the otxinlnK
Bfiatnst commission house orders and for a time a strong tono was shown, hut
Within a few mlnutea tho bear traders had control of price movements and losses
woro sustained all through the list, ranging from 1 to lo points, with I)rlges
Scabury sustaining tho heaviest loss,
Industrial Alcohol was without support for a tlmo and fell from 116 to 107,
United States Stool common dropped 2 points, with a lator recovery of more than
3 point, and similar recession and rallies woro noted In all tho other actlvo Issues.
Tho buying camo almost wholly from tho Investment class, and tho action of tho
mnrltct In the last halt of tho day Indicated that stocks oro again Hteadlly going
out of tho Htrool, becauso of tho buying from those ablo to pay ror stocks In -cash
and take them away,
In tho last half of tho day tho bears were less confident becauso of tho nluto
Stent which was made that tho answer of Lloyd Ocorgo will bo published tomorrow
and may mako peace prospects seem moro distant.
Thoro wns little feature In tho trading In bonds, prlcos generally moving
within ft nnrrow range, and few Issues showed Important changes at tho end of
the day. City of Paris fls moved up to 00 and Anglo-French 6s wero traded in
at D3H to 03H.
CURB SPECULATION
HIT BY PEACE PLANS
English Discussion of Proposals
Thought to Bo Favorable.
Midvalo Drops Far
NEW YOllIC Dec IS. Speculation on
tho Curb continued under restraint Imposed
by tho Interest attached to tho consideration
of the Gorman proposal. Discussion of tho
document, which has been delivered at the
English capital, was generally of a. char
acter that Implied a belief In somo definite
results from the consideration of pence
propositions, and stocks of companies whoso
business depends on war orders could, only
bo sold at substantial concessions,
Midvalo Steel wan ona ot tlio- weakest of
the. Industrials, falling three points to DO 14
and Issues like WrtghUMartln, Aircraft,
Subm vrlno and Iako Torpedo were ,ln sup
ply nt materially lower figures.
Many of tho mining stocks also sold at
' aubstnntlnl declines with United Verde
down lu 30 to 38 and Magma falling
from 42 to 40.
Charcoal Iron was firm with sales at 8.
Tho October statement of tho company In
dicates .net earnings of 2,000,000 or at tho
rate of 00 per pent na tho common ufter
providing for the dividend on tho preferred
stock.
Oil stocks were Irregular, with Standard
OH Issues active and strong while the In
dependent stocks oold off.
Jtoyal Dutch dccllnod from 0BW to 07
and Sinclair dropped from 69 to 00.
Cudahy new Cs were traded In for the first
tlmo, selling at .09.
Condon & Co. are said to have sold
400.000 barrels Cusblng grade oil at
$3,16 a barrol, highest price over paid for
mid-continent oil. Official posted price for
mid-continent oil Is f 1.20 a barrel, but big
premiums havo been pall all along for tho
Cushlng production.
INDUSTKIALS
I1M Aakffl
Aetna Eiptoalve II Hit
Amerloan-Hrltjah .life 13 So
Amrrl.utj Marconi ,,....,..1,,... 3 !IH
ran Oar Kdjr ,,,.... ,. 40 BO
Can Car W Ja ..-. Tfl., flO
Chareoat Iron .... ..J .,S
Chevrolet Motors IiS 1&9
I'urttaa A'roplane ............... 33 in
llmereon I'honoerapo. j . 10
Federal Tytuff ...... ....... I,, P5 .00
donera) Motors l lSJ 140,
liaaxou iimiKnr uw ....... 3
jioniiro sup ...,. ,
KlthCHlloTi Jlronxe pfd
j.url Oil a,OM ..
tfsvlm Ititiltlona ...
Manhattan Tranatt
MMviilt fltwi ..,.
Otis Elevator . .,.
i-earieaa MOior .,.....
Vnoto Intrlna ,,.,.....
Btanitard .Motor ..........
Hteal Alloya
New York Bond Sales
I00O Anier Asr ev (1
a"?!iSH ABlo.Krtnch C. ...
JU0 Allifr Mid. 1, (1. .
S.'.'i'ii' '" I'nrtlsn Heo t,.,
ViOOO Amir Hmelt Hen Um
Iihh) Amur Tel clt in . .
,S0OO Amarlre .... ..
1ii!!! Arner Wr' 1'sP r'"-
juoi; Aichlaon rn -la.. .
BOOU 1I0 aUI a
logo docv i 101V ..
WOO Allan Co 1.1ns IMa .
J (K) Atlan Co Unr U ta
M'X u" ' Ohio .1H .
!B.?,ML
4060 two i i,(VvV
MlMlO lletn Hl.fl lat fta
1WM I,rool Itan Tr H .
Biiuuii do Sa IMS
IIHiiiii ran (lov na 1D2I .
1S0OO Can Clovt oa lusfl..
4a.
1IIIIMI ilo
,iuui j;ent
IU11
ltlRh. Ixiw. 3 p.m.
KW I02W HI2V4
I Mil ,
lot
IH14
Km
111
lOOU
til
IIS
Milt
nit
limn
1011
III) v
III)
1111
i.MH
.104
. IIH
.101
lit
, OT
, Ml
" A1'
, huh
:iof
: m
iiii
tot I
IIKIU
. 1 (III
llll'
II I.I
li.H,
lilt
0 H
lux
III
117
Hl
HIS
eft
1IHIU
0.1
11.11,
lUlfS
lift
Mm
ln:i'i
nil
Jini'.S
ion
tjiHfliAr ! r nil ll 1111
llNlllcl IT III! . II - A. n. 'tiiAlI In.'i
nii..,i.. n..r.v--' --. --.-..'.'. i'.v.
-..mi 1.11111 i.uii)vr in.,,, ,iank
127IIOO Chia A Ohio conv fia . U.1J
4IMI0 Ch )t Weat la ... 7aj
4UOO Chi lln HI. ill. l,,ii
iinuii wni u o joint in
n 41
011111) do ct
.1 1110 Chi It fit ! zrn
.......
iiO
.......
.....J.
liuhmarlno S0VI
Trlanlo . nim ,,......
llnltml Alloy HtMl, ,...,...,.
United l'roflt Hharitis ... J,
ItnlUd Htataa Llsht and jtaat rom.
llnltM Htatea I.Uht and Ileal prcf .
"World l'llm ,
"Vrtht Jlartln Aircraft ..........
ItAIIJlOADP
-ere Aianiuviiq .....
Para Mamuetto prcf
ItooK lalaiul common
jloclc aland A ira(
Itoete laland M prat .
Vrlurn 1'aclno vr I ,,., S1V4
Weatern 1'aellla prcr ....,,....,, tT
Wabaalt IMIUbursh Dili
BTANPAJtD Oil, 8TOCKB
SllnoU 233
IU4 ...... 1. ....,..,..,, ,94a
ITslrla Pipe;. ...,.......,..,,... ,,144
Htani unl oil of California ,,,,,., aon
giSSolfu 8ii 0te.::::::21o
onenn OIL UTOCKH
B2000 ilo cv 4Ha lull
1000 do sen 4H ,., . Hit
2II00II C It 1 I" 0a one (u 7ft
11001). do rfd 4 711
inuon do Sa 71)'
noun o It 1 & v Ark 4W. 71
BOUO Chln rct Aa ... . 7t
20OO Col It Houth lat 4a... Ilfl1
11000 Col South Ilia .... MS
8 1 TOO City of Parti Oa...,. on'
SHOO Comp Tab Iteo Co 0a H7'
400U pal a Hud conv (la. ..103
loco 1)1 a itud rfd 4 oh1
nuiio Den a Itio ilr 4 mi'
1511(111 Den k lllo Qr rdl tia.. mi1
OOUi) l)la Becur Corp Ba.,. 71
1000 i;rlo conv 4 8r A., mi1
11000 do conv 4a Her II.. (in1
2000 do eiinv 4a Hcr.D.. Kit1
lono flen Kl.c 8H 70
iuiju ur nnr lat oa.
-uvu ur 1 ana
4a... DHU us HhVi
... .. tiaSi II1H HIS
n 4a. . 112 U2ti H2li
un;;
H4K
1000 Hud Man In 0 2Sti
UN... .. 11IUU
Vast Oa.ljul
1 In Um. . -M
4uuu no rru oa ., . imji
lpon 111 uttal deb 4.H a . vM
1000 Indiana filcol Sa. . ..lo.'U
iuuu 111 uent ia auno. .,
111000 Intern (l T ref Ba...
noooo Inter Mrr SIr Oa,..
82000 Intern! Paper Sa,. ..
lodlli) inter Asr Ba.. ......
BOO Japaneao 4Wa .,,.,,
B(H)i) Kan City 8 1. 4Ha...
MUM) Kan City 60 Ba, .,
11(100 Lucka aitil Ba 1D23. .
ncnmi .in nm inivn ?
V... Hv V " ...
:lcdo Una rru
Hk
Kill
lilt
70
711 Ji
??
71
IUK
HIS
UAH
H7U
KI.-.U
im'i
R"H
11ns
711
OIiH
888
70
M
Oil
lilt
U!5i
7000 icidio una rru oa, ,.igi; iiiit. ion.
JOOO A)h Val ot N Y 4Ul,iof(4 10l(! lOiU
inui) I.Ts M T Oa,.,... iolVi Kilt? invi
2000 3o 7 27j 127 127M
BOnO IxirTlUrd Sa Iili4 1" 4 lot.S
2000 lunula & Kaah 4a.... UlU. 11(1 II lliUI
2000 Minn Ht u Ba
10000 M HI 1' 4 H H M
nnnn Kin !.. Am
nn
100000
sooon
ICOOO
IOUUII
Minn A
Mo. l'ac
M St V 4 8 H M 4a.
ac.et 4
no
OiU
do w I 4a 11
do vr 1 8a 1VSA. ,,. OH
do sv ct ata Ba,... (1(1
do Ba 101? o ct 0 ata US1
if'itfi
84V4
Bo,
44H ,
00
10 I
B4.
0000 Mont Power Be
400(1 N O I ft M II It Sa
f.OOO Nat Tuba
JHOOd NtCSl
itniiuii ao 11a
23001) do 4a
2,1000 do 4 tia .....
1BO00 N Y City 4a IOflO
81)00 do 4a 1017 ., ,
Boon do 4a 10,18 .,.
20110 do 4a iuuu
nvuu aa
4000. do
11000 do
3000 do
1UUO N X
uoi
ill,
,.ii"';4
'..'.'. o3h
.... SA
rest, lot
. .HUH
101
soon
4 via iuuu lua
4 A a 10(13 Hit)
4 Via 1003 , 100
4?a Nov iOB7..tua
(in a i- na. . . ,1
VII III!
0)11 OIU
.1111? ITIlA'
f "": v"y
U 117 " II7S
K IIHW llllW
4 not! no',!
u omu, imvi
I up(i uus
BO Bl)
1IKH, Klll'i
HB Bl
11114 IIS
02$ U2H
on' on
101 101
r
li 101 1,1. 101 1
101U 101U initi
i ll)lk 101 S
Ji 101U lllRli
Y Ilwy ref 4a
1000 M Y T.l ran 4U a
tnftrt NY V O ft II 4Ha.
2000 Norf ft
BMO OnT 8hi
r 11. -t
c sen Ba
BrlOO Ore Short Ij ref 4a.
.41)0(1 i-ao Tel Da
10000 PaclAo Oaa Ba
jjuihi i'anna
ji, na en .......
6a Peo ft tCaat la'4f ,,
ii-
4U
110
7B
u:
hi
.RSH
"17
101U I'IBJi
lo'ivi tnaw
inuii inn i
llarnett Oil
uoaoei
Ccadei
ft Oaa
n A Co
l'etrot ,
uu
Inlnr
ffouaton
lirrrui uu
Mtdweat Itaf
ltoyal Dutch
fiapulpa Iter
tllnclalr ....
.. ....
...., ,...9...
.,.,,it,,i,,,
...... .. ta.t ....,
...........
MININO aTOCKB
Atlanta
liutt roi
JlUbee Copper
imn :opp(
uuiut H v .
(a.
nroan
T KHU J.IIW ....
. ......1
1 tit ...
t .. t. ......
..,,,,,,t,,,,i.,
IM,1tt,,,,
OolJrlild Ueraer .,.,. ...... ..
&iuilnjf i,i,i,i,,,i,4,i,
i,(,.i,.,i,i.t
t ttt t it
Cojto dePaaco
4-.tnoia v-'-i-' i
Klorenea Qoldlteld
llacla Mining
stow oouiva ..-.,
I ndtMindanii Iad
jlm Uutlor ..................... SO
Jumbo Kitenaton ,.,..,.., 27
McKtnlay-Uarrash OS
jimta tu 01 Auicria, ..,..,,.. 4
It'lplaalns Mlnte Co .,,,,,..,,..,, BU
)ty llercutaa ....,....,,,,,... 41
Ban loy ... 1. .,... ...I, .... 14
St Joaeptl. tM ... ....... ....... 1
Tonopan ,.tcnort ....... ........
"Weat !nd .ConaolUttail , , .... 0
-wait oK
BONDS
Amur Tel Tel new St ......
Cerro d I'aaco 0 ,., ,
French Jlunlo Oa , ...
UUtald atetl Sa .............
Ttuaalan, te . ..1.
Iwnalaa Bha ,,.,..,..,
,4
.11
..All - n
iiniw racing uaa oa ,,.., vrt.. v
liopo panna 4a ID IS nos
BOOO da sen ct 4W. ...t.loag
oo.enena .it.i...'"n
,100
. so
5"!H
8
4000 publlo tlarv N J Ba
Biooo st U ft H V edt 4a,,
do In 4a ........
ao ear a
2000
(1001 1
do Her II ji!j-".SnJ
Rt P M ft M 4Ha..loa
Htand Mil Sa Out!
Htand Una Oa ......10IH
;:i3o'
Haab A 1. adJ
BOUO South Hell En...
1(1000 South lao cv 4a
1BU0O do ret t p sa,
jnono do rfd 4 ,.
17BOO South Ilwv sen
Hugo an con oa
BOOO Npart 4
87
..103
:: n
' -ji..
iu 11
i
'Ji
la
200(10 Tol ft Ohio Can sen Ba SB
iuuu Dialer at Ltti
soon tin
2"00(l v
1000 JJ
14000 U
4DOO
00060
140OO
Kutl Ot..
Ba
,,10(i
.uu
LIIU
101 ;
41)(!
00
7B
OB .
S uo'i
a..3..H
.BOH ?US
102 102U
ioiiC jnnJ
7S 7.1
02H U2H
Kill 1011
W -
SUM BOH
fluff 60W
UD (J UU J
lnili mi (4
07 III
14 lOOt, lortU
H S7U S7U
K 103S 11)33
3 m 7bp
A3 S,1'
H loovi Km,,
1111 in
H tealty Ba ..At 117 07
8 Itubler oa ...,,joa,U 102U jllJU
a Hteel a f Sa .,..10(1 innS lo.l
j a f res Sa ,,.,.,lnsu Jninj iorty
ilon Pao lat 4a ,,, 084 "8 "4
Bl4'a'l10 08t4 OHtl OsU
.'.v.;v..6g Hit a?
,., ...JM lOMivJiulJ
do
Iinlon
V
Jnlon Pao rfd 4a.,,.. lit
I
000 U K O J! 1 SVia '10 08
iSo'ioo do ID:
41000 do 6a ....4
BOOH tVabath lat Ba
huh) no :iu 1 .. .
BOOO Wab-I' T lat ct 4a.
68000 do lat ct t 4a
weai rt 1 a 'n ie.
union mtea
m
JOOn Waal
hihii) wi union oa ,
BOOO Wlio Cant sen 4i
vv&
, 87 RO 97
! U m so
, oi on oa
.101(4 jftlH 101U
, 87 80 87
t
FOnEIGN EXqOANGE
N1BW YOItK. Osa M-Tbo feature of the
tSoreltn exchange today WM a further sharp
dfcllne In Teutonuj exchange. The market
Benurally, with th exception of sterling
and 3wis. was somewhat easier, but bust-
was very limited. lUlchamark cables
fell to T0 and caecks to 70. This U a
rteollpe of 5o from thi recant alleged high
agurst 0 iba rally. Vienna was also weak,
with cabtea at 1S.05 and checks at IS,
Iteacto eohapg waa a shade easier.
Quotations follow:
Dajnand stsrlln 4.1SH. cables t.191-19.
tJUrty-day bills nominally e.tJ.
'Usatyay bills 4,81.
J Rrona cable M1H, ehfrks B.84S.
SJrs wblM f., eaeeka 6S.
Swisa caWta, .. checks 6.
SsiMsf mbUM ef.10. pbscka it 00,
Jfaoar ekbitt .tS. check S9M,
mttrn tot PUgfim MUta
iSPaTim Cotton
'9 :
Financial Briefs
Banks gained from the New York Sub
treasury Saturday J5.ail.000, and slnco last
Friday gained B.078.Qv-
Qross business of General Motors Com
pany for the first four months of the fiscal
year from August to November, Inclusive,
totaled ttT.S10.000. and uet earnings were,
IM?6,Q00.
The American lacomotlva Company has
taken orders for ten ill engines for Wheel
ing and Lake Erie, four switching engines
fer the Philadelphia, Betujenero and New
England, and f)v for the Tata Iron and
Steel Company, ot Indiana.
New York Stock Sates
tti
eloee, Itleh. Tw.
P.M.
2IH
S05f
28ti
09K
COH
nsh
1314
TO
ATHornjIr....r.. 20 2IH 20)f
AJu nnbbnf 7DJS 81K 80
AllU-Chalment M fg sgu SOH 2811
ArallfetBuMr lpotf notf arti
AraO.n If( HVt COM
Am rr a; Foundry CO), co OWf
Am'IHflAIsther....' 13M 13H I3K
Am Hide A tealhCf pf COW C9f . (WJf
Art hooomotlie riu n ra
Am Bmelt A Itef imi lrwt4 inn4 107
Am Bunt lleflnlu UJ 1UH 1I1H lll
Am Bleel Poundfie (VU, (V, ai (VI
AmTob pf ftew ..J08 108 108U ilWlf
Am Wr I'iper pf 40 40 48M 47
AmZItAS, iott 47li -10 47
Am Tel A Tel 12.-.J. WM 1H5 I2M
AnaconOM 87H RS R0I 87
Atch Top ft 8 V lOUf lOJ lOih 105
AUOnlfAWI 13, 120 2fl Ui
nM Tocrf wit mt now rt7 Mil
iieinicncm mi pr. ,,, ,40 ll
nrjotirn mpid it 8.1
Barns Urol ,., 8D
nit a o.iio . ...
nulte A Sap ... 1
Csl Petroleum ,
Cil Petroleum pf
CanmiUn I'sdilc ,
Crnltal leather ,
Central brother pf. ,.,,,
8-
23
Ct
83
OIJ,
CO
25H
fiOf
1C0H 108
UIM Ooh
Hi
83
Wl
2S
6T.
umt ins
11314 nt
145
83
8(1
8.1M
r,2H
VM
WWf
lit M4Ji IMH 1IIH
Chindler Motor 10SK I03JJ lOJJi 10.1M
07
381,
2l!f
nr.if
31 M
CO
.'trt'f
r.us
ChrjAOblo mii mu
Cbl It I A r.ic....,,,. . .-)!)) 30)f
Ctillt Copper 20)f Mi
cum coppr , r,s &s)f
Crorltilo Htecl OW Oa
DUtlll Bee Corp'n UH .'W
DfteM Braburr, .00 m
Krle 37H 'MU
Kris lit Pf r,lH fitu
(IcdNil Elocttb.i 17214 172H 172
Oocdrich n P 07 001, 03H
tirannr conioi u mn
nrrat Northern pf 117 117
f 1 N cf j for ore prop 10), Wi
(Ifrcne-Canocii 40 40
Imp Con Cop MM .V)U
Intl'iper HJf 47
Intl'apertif 101 lttS
Int Her MnilM 30)f :7M
Int Mer Maflho pf 100 100W 103
IJ1TK otrei uo any lit Yj
Ihluli Valley BOH HI'
MjiwcII .Motort M KM
Mux Moloni Int pf 7Mi 731i
Max Motors 2d pf 43 43
Mox l'etrolourrt 00) lOOtf
M liml Copper 40 40tf
Missouri lMclde II) lUlf
Mo Kan A Texas 12 13!f
Nov Con Cop 20Jj 20JJ
Oi
39
20Jf
r.o
07
33f
60
37
1H
172
01
!H) UOIi
11 (K 117
30K 10
45i -I5I
oh flS4
-MM
lUt
3.r)
4'
107
35
io-
8S
81
00
71
ItHf
Ncw York Air IlraV.ii
New ork Central
N Y N II A II .
,V Y O A Wot. . .
Norfolk A Western.
Northern l'acinc. . .
Ohio Clllel (1
I'cnn llallrotd....
Iltti Coal c of tip .
l'munl 8teet Car..,
Ity Steel BpM
Hay Con Cup ....
Heading .... , . ..
Hi'pulille Iron A 8.,
Bralxmil Air Line 10
Scaboanl Air l.lno pf . . . 4())f
81
7IM
I2lf
!)7J 100
.TJIi .!!))
10K llllf
12 12
2.5! t 23 K
.100 102 IA2 1G2
. 10t3Jf 10051 lOW 100
. 65 C!H G4J,- AS,
. 32 32), 31f 32
137 137J 130)4 130K
.110 IKIJi 110 11034
.103 101 I02M I03!f
,. wu, coij r.inj cox
. 40K BIO . 45
. 75Jf 70H VMi 75f
,. C2 MH 53,'f 53)(
. 28)1 28K 28M 2Slj
.100H KKIJf 10)f 107K
87 BUf 78)i 80
10)f 18)f
11)5 40) (
Bears. Hoe A Cc 230tf 220 228)f
Blou H(if B A I 00)f m 02
Southern Pacific 08)$ 08W 1)8)4
Southern Hy 3034 .'101f 35K
Southern IIS pr 72 7.1)4
8t Louis A 8 F I .... 28 30)4
St Louis .Souths wt pf. . &l?f 57
Studi halcr Co
Btutz Motor sti ,
St Louis SouttiAcat...
Texas Co ,
Texas lMclflc
'Ihlnl Aveiiuo ,
Tobacco Products....,
US 0 1 PA V
UBOIl's Kpf...,
U8 1ml Alcohol
U 8 ilealty A Imp, .. ,
Unllitt Hyalnv
U H Hulilwr
USB It AM
US Stivl Corp'n
US Steel Corp'n pf...
Uta.i Copper ,
Utah Securities
Vo-Caro Chemical....
Wabash
Walusn pf A
Wabash pf II ..,
West i: AM
Willys Overland
Union Ilac A Paper...
Union Han A P now. .
United Clear Stores .,
United Fruit
Union Pacific
U5H 115)4 1
28)4
55
11)4
I8l
40
28!i
00
118)4
3514
72)4
30)4
57
115
60 V4
28
605f 50)4
,. 31 28 2H
..11)9)4 207 108)4 205
.. 21)4 21)f 2l)f 21)4
.. 50 511)4 -11134 -10)4
.. 51)4 674 MM 5
.. 22 23)4 2.1)4 23)4
.. 50)4 00 00 00
.135 115)4 107 100
,. 304 31 30)4 31
. 12 14),' 12)4 13
. (15)4 00 01)4 00
,. 08M 0S)f 05)4 00
..114)4 11 US 112)4 113),
..110 HID. 11014 UOH
..10SI4 100)4 1004 107
GOTTOH stronger,
BUT TRAblNG SMALL
Oporatfons Arc Nearly All Con
fined lo Commission Houoes.
Selling FoIIowb Advance
NBtV TOHK, Dec. 18-Trndlna; was
small at the opening1 of tho, Cotton Ex
cltanfco this mornlnR, but the tone was firm
vrllh prices 6 lo 16 points higher. Opera'
tlons were nearly all confined to commis
sion houses, although some, uptown buy
ing was noted and Liverpool sold March
and purchased October.
After the call tho higher prices Induced
some selling, the bulk of It comlnrt from
Liverpool, and prices by the end of the first
ten minutes had reacted 4 16 0 points from
the Initial levels.
Temperatures were nearly normal, but
It was snowing at somo points In Tennes
see and North Carolina. Weat of the Mis
sissippi clear1 conditions prevailed, but to
the east of tho river the precipitation was
general,
Liverpool nt the time of tho start hero
wss 13 to 14 points net lower or nbout
2 to 3 pofnts better than due. V prttnte
rahto reported a llttln liquidation hut no
liode-o selllntr, with tho mnrkct a small
affair.
Trado Interests wero Brood buyers dur
ing: tho Intter pnrt of the forenoon. Tills
was Accompanied by reports that spinners
wero cnlllne; cotton on a ronsldcritblo scale,
svhllo tho innrltet nlso fell the Influence of
rt stronirer tt$tfylcnl position after tho
liquidation of mturdny.
Actlvo months sold about 20 to 3B points
not higher during the middle of tho morn
ing, but this liiilgo met Liverpool eclllnr.
which was sold to bo partly agnlnst spot
purebnson In the 8011th, nnd there rsern re
actions of 6 or 7 points after II o'clock.
Prlcos wero well maintained later In tho
afternoon Tho dcrnnnd from spot firms,
which probably represented price flxlngu by
spinners, to a considerable extent absorbed
tho compnrntlvoly modcrnto offerings from
speculntlvo sources.
flat, cloae. Open.
JJeeemW ....1S.0I 17.00
18 no
Sates In Philadelphia
' ' " nm 'l il " "'
ew.
itbm. Lose.
B Am ttys pf 91 07
is Anao Cop. siw M
I Cam Iron. 41",', 44i
SO Kleo Stor. 00 54 i
SO Ins Co N A It IT
40 Kenne Cop 4S 4
MIS LkSupCrp II 1
so Leh Nav.. SflH Sf)H
II Leh Vnlley atU SIU
1 Mlnehlll .. nl; Sl"4
I4S Nev Cons SVi IW
410 I'enna It It M SO
10 Phlla Co pf IT It
100 do cum pf 41 41
111a i'n nieotp sty, "
4IST1 PUT tr cfs 80H IIH
S3 Phlta Trac S1H SOH
SO Reading... 10 lOIftj
toil 80 Itwy ., IS", 9H
Net
dure.
8t H
S1W -J4.
44 H H
9 .....
St tt.ti
49 11.11
lltfc J4
Vt H
SH4 W
STH
364 Din
son H
IT 1
41
St W
80?4 194i
aiH V.
10TH H
SOW W
January IT DA
March IS in
May 1N..17
July IN in
OctoVr m.M
Hr-ot in. in
Illnh.
18.02
1S.IR
IS 411
lH.r.u
IS III
10,711
Iiw.
1T.B0
17 7(1
ih.iii
IM.'-'t
I.-.'!
10.40
Cloae.
m
1H lit
lN.'JJ
IH.a-V
111.411
18.10
Liverpool Cotton
LIVKUl'OOL, Dec 18. Tliern wns only
n moderate demand for spot cotton today
and prices were 20 points lower on the Imsls
of 10.80d for mld-uplandn. The sales ag
gregated 19,000 bnlcs. Including 0000 bnles
Amorlcan, The Imports woro 47,000 bales,
Including .17,000 hates American. Tho mar
ket for futures closed steady nt a net ad
Mtnce of 7 points to n decline of 1 point
Net
:hat.
ROOT Ilel . .. 4 1S.1H 4 ll'tfl 4U
78 Ton Mln.. U W y S-1
948 tin Trac. 4J4 4fl - 4BA S
ISS Vn a Imp. IIH 00 l4
3X15 U H Hteel 114V4 1IH US
100 York Itwy, 14 14 14
4T do pref.. K 30 SS
IJx-dlvldcnd.
itnvna
lllah. Low. Clone, e
f.1000 A tIAKt Rs SOU 0H 00)4 Y.
tooo City Itii
1031 reg on Or) OS .....
1000 do '18 rcg.t03tyt 103 103 H
tooo Uleo & Peo
Tr 4s .. S3 S3 S3
oodo Int Itys 4a. 63 V4 SSH savii
S7000 I.k Blip Inc
Ss SO iV. 80 1
1000 IhN'cons
4Mb ...10.1 103 103 -f V,
0000 I'hlla Co
cons 6s. 02 0 ot V.
S00O Itend Itn 4s D&M 03 H 03)4
1000 Un Itwy
Inv 8s IS 73 73 3
1000 Turk Itwy
1st Es . OSVi 03)', osu ,
WHEAT ENDS FIRMER;
TRADING MODERATE
Indications of Approaching Holi
day Dullness Are Apparent.
Exporters Indifferent
BIG DECREASE IN LOANS
of
23
.. 4!.)4
,. 10
.. 67J4
. 31)4
. 55)4
. 37)4
.. 12
. 09
.. 07)4
.150
2314
15)4
10W
50)4
3J)f
55J4
37
12) i
P0J4
08
157
15
1514
67)4
32)4
01H
30)4
12)4
00) i
08
157
23
45M
1(1) J
60'4
32)4
55
3 c
12)
00)4
08
157
.140)4 110)4 115!4 110
12x tllvlilorul
American locomotive. 1VI per eent. Clenrral
C)i-mlcal Company. 1H ptir cent; Irfiosa.'Wllea
Klacult Compiiny, lat preferred, fit per cent!
Mniihuttnn Hlilrt Company, preferred, 1 per
(vntt Thelpa l)oilqo A Co.. SMi lur cent and 10
Kir cent oxlra, Dlatlllera ilacurltlea C'orpornllon,
1J4 Per cent. May Department Htorea Company,
IS wr cont. Tobacco lrotlucta Corporation.
t lr cent Manila Klectrlo Ttallroail nnd
I.Uhtlnv C'ompiny, 1V4 par cant: Hloaa HhafDeHl
Htevl and Iron Company, lb per rent; Chandler
Motor Company, 3 par cent and 1 per cont
extra! Kloctrlc Htorase llattary. 1 Ier cent.
Local Institulionn .Report Dccllno
.$7,403,000 fti Week
Tho oiitotniidliig fentufo of tho Philadel
phia bnnk statement this weok wns a do
cllne of 37,403,000 In lonns. Last week
thero wnB an Increnso of J5.200.000 In this
Item. Deposits fell 31,778.000 and tho sur
plus wns 31,332,000 smaller.
Dlrfarenra
prev. weftc.
Decreaae,
$7.411,000
' 3.77H.000
xn, olio
ff.sxs.nrto
I.UOJ.IIOO
lMr.4.0l)(l
0,177.00(1
l.HtO.OOl)
1,332,000
I.onna
Drpoalte tlnd )
Circulation
Due from hanke....
DepoMlts of tmnke..
Kx. Clearlntr Itouao,
lteaervo fiald. .. . .
Hraerve required...
Hurplua
Mncreaae
Hurplua December
cemner 'i. iuis
Dec. 18, 1010.
. .J344,4O),0n0
. . 4.1ll.0aA,000
V.IUI.UVU
8.1,4)111,111)1)
ji.o.iv,uv"
23.Hm,lfKI
1111,177,000
78,41)3,00(1
11.084.000
11110. I0.II7H.0OO: beri-mtmr 111. 101'.'. I
December 18. lull. 3. 11.14. 200.
0. mm. IM.ant.nflO: Dp.
IIB.037.iD0i December 22,
uu.uuu;
GIrard IVust Has Good Year
Tha annual report of tho Hlrrml TrUHt
Company shows that tho net profits fdr
tho enr ending November 29, 191G, were
31,284,131. Krom this umount tho follow
ing pajmentH vera made: J300.000 to sharo
holders In dividends during the year; 110,
000 as the usual contribution to the em
ployes' pension fund, making the total
umount contributed to that fund 370,000.
As of dato November 29 tho undivided
profit account was $1,013,001, compnred
with 31,274,809 last year. Ileal cstutu con
tinues to bo carried aa an asset as lees
than its assessment for taxation,
Owlnu to tho abundanoo of money In the
country, tho average of Interest rates se
cured on collateral loans waB 3,75 per cent,
against 4,43 per cent last year.
Two hundred and slxty-flvo new trust and
ngoncy accounts were opening durlnrj the
year, nnd after current settlement of es
tates by completion of administration dur
ing tho year tho total number of accounts
In tho tni'Jt department Is now 2605, of a
total npproxlmate valuo of $197,000,000,
against 3180,000,000 last yenr, Tho num.
bor of deposit accounts subject to check is
now 15,181. The average balanco totaled
approximately 347,000,000 during- tho yenr,
against 1(2,000,000 last year.
MONEY LENDING RATES
Kinv YOItK Tho money market had a
nominal appenrnnce today with business
nt a minimum. Unnkcrs maintained a
precautionary attltudo, and this Is likely
to be continued until nftcr the first of
tho year. The market, however, from the
viewpoint of the Wall ttroot borrower. Is
not stringent, reflecting tho clcanlng-up
of last week. Loans on good mixed stock
oxchnngo collateral were quoted nt 451
4 per cont for sixty days; 4 VIST 4. 4 per
cont, ninety days, nnd 44'.4 per cont for
four, five nnd six months on good mixed
stock exchange collateral. On all Indus
trial loans tho rnto la about G per cont
for nil dates All of tho money markets
aro susccptlbln to tho uncertainties rein
tlvo to the war and peaco prospects.
Call money ronowed at 4 per cent.
Prlmo bank acceptances wero dull nt
3Vi2Ti por cont for ellglbles and SiO
354 por cent for tnollgtbles.
IMtlLAIinLl'IlIA-Call. 5 per cent.
Time, 4)4 5 per cent Commercial paper,
three to six months, 44JG per cent.
OIIIOAOO Call, 4 per cent; tlmo, VJ. B
per cent,
BOHTOK Call, i per cent; time, 4
4 ',4 'per cent.
CHICAfJO, Dec. 18. Dealings In wheat
woro rnodernto today, as compared with
operations recently, bocause of n disposition
to wait Premier Oeorgo's speech In the
llouno of Commons tomorrow. Jloreovor,
there wero Indications of npproachlng holi
day dullness.
After displaying n weaker tone, tha mnr
kct closed firmer. Wheat that hnd been
put on snlo early went Into strong hands,
and shorts covered. Kxtrortcrs, however,
were Indifferent.
An ndvnnco of lOo nt Ilucnos Aires at
tho outset did not hne much effect here.
Clearances from the soaboitrd wero small,
llecclptn nt Interior points wero less than
half of thoso a year ngo. Tho market nt
Liverpool was dull.
Docember ended nt tho best, $1.5354,
nfter hnvlnc been quoted nt Jl 5154, Sat
urday's Iast'prlco; May nnlshcd nt J1.G4&
OS1.54 54, or nt about tho top, nfter hav
ing touchod 91.R1, or 2c below Saturday's
close. Tho high on July wan J1.38H, and
tho low $1.34 54. ending nt 1 38-B'Jl.38,
compared with J 1.37, tho final ouotntlon of
Saturday.
Tho Government report on tho area sown
to winter whont was bearish The state
ment put It nt 40,090,000 ncrcB, tho great
est evor planted, with tho exception of
tho 40,453,000 acres seeded two years ago,
and Is moro than 10 per cent greater than
planted In any year to tho fall of 1011.
This yenr's nrca shows an Incrcnso of 887,
000 ncrns ovor that Bown In tho fall of
1915, or 2.3 per cent. Tho condition on
December 1 was 85.7, against 87.7 n year
ngo ao.- iwo years ngo and a io-ycar nver
ago of 90.2.
Leading futures ranged aa follows:
Rat'day'a
Wheat Own. lllirh Ti,v flnam r-t...
Jlay i.nsfi i.niS l.m i.mt
July .,,.... I.3(l4 1.88K 1.34)4 1.88.
corn tnew uallvnry)--
1.01)4
l HI
1.3-
l ?..
17 U
BANK CLEARINGS
Dank clearlnia today compared with corre-
ponainaT day mei iwu yearai
Philadelphia. J5l.lM.aM $31,061,312
110,1011 Jl.lldWI
i.oM.,112
2I.218.BS1
1014
121,017,1105
lr,b2V,2H2
BAR SILVER
Tendon (Mnce)
Nvr York (cents) ....,..,
, TH'
t
lat
SO",, HUH
70VJ 73
Sat.
Decomber
May ....
July
Oata
Docember
May
July . ...
A.aru
Deramber
January
.May ....
Hlba
January
Way
Pork
January .Mas-
Hid,
IM J4 B.lf, niu 035;
l2( 03 dis oau
UIS 02)4 Dili 82K
.. 40H
.. no),
... 01
.110.80
,.10 0'J
...10.00
...13,02
-.14.00
. .28 no
20.47
tAaked.
40J
nil.
in so
ian
10 03
13.75
14,10
20. CO
20,33
40!S
Sofe
10.47
111.02
13.V&
40i
03 J
IVi
oiU
02
uiK
40)1.
03
SI
m.BO tfario
10.00 111.03
10.02 10.00
13.00 18 72 13 70
14.00 14.07 U4.07
211 00
20.43
20.110 20.00
20.30 120.03
Union Twist Extra Dividend
BOSTON. Dec. IS, Union Twist Drill
Company declared a cash dividend of 6
n sharo and n. stock dividend of 26 per cent
on tho common stock, also regular quarterly
dividend of J1.50 a sharo on the preferred
stock. Tho cash dividend on both iBsues
Is payable January 2 to stock of record
December 20. Common stock dividend Is
payable January 2 to stock of reoord Do
cember 21.
IS
LiESflM
DIVIDENDS DECLARED
International Traction Company, rvnular
vmr vui vn ua i per Lent
PP,,cnt on Ua 4
prc(rreit slock, 1
urafdrrtM atuok a.m
tock. alt payubta January
auccemuer .u.
Itluca Avenue Fsisepaer
iwr rini
psr cnt on common
' 3 ty atock uC recorj
itauway Compajiy,
r chare, cavubl
clvea Uecembor lei reopen January
January 1 as nt Uterad DaeemUor 15. llooka
regular quarterly . of 13 per ahare.
Cuba, llallrnail I'nmninv p.,iln -mlnMH..i
of 3 uer.cent vn pretarrad atock, payabN i'tt,.
ruary 1 tu jlnck of record December
ni4,ura it ana ,-ower uc
uavahla Jnnuir IK
'--". -V.T'-' rT--i7"- -t --. --
vi ui rrmm fCLmoai
terly of 2 a ahare.
bla
30.
Jlur
Mine Hill and Schuy
tiv. ZM iwr lbi. n.vth
tered ITervmbar 22. Ilool
pa
lat
raopan January 18.
I'lilUdalphla. und
fkflhla.
resular quar.
to m
bold.
Haven Railroad Com.
payable January
aa cioee u
IS
eceml
aa ra
r sj,
Weatero
nt
10
Quarterly ufiu per cent en tho preferred
W1
atock. payable
.uiM-ainUMr ou.
Not a gratia steal Company,
Hallway, resular
II tbo urerHrrtftl
to stock of record
resular Quarterly
payable janu.
of 2 per cent on preferred atock.
uary 10 to stock of record Deceinper 80.
- . I , Ml !, ,,. II
NEW YORK BUTTER AND EGGS
oS'.lsw,.TO,u,.i- J0"- .lo-rrBUTTEIl llecelpta,
2904. . Market about, to din bor on top uradae,
A SOOND
IIVESTrai
g rlae oa other
auallllu. Very
RAILROAD EARNINGS
VIRGINIA RAlt.WAT AND FOWJSR
Novembtr ctoaa ...
Kat
HunHua ,
Hn moniha' sreas
Nat
Burplua
ldio
I4K1.703
230,031
6S.UO1I
3 431. sea
1 Si led
4'JS.Oi
Inc.
4IS.SM
11,073
S0.11O
11.78
Hr -- I VASJ-, KXVMS. Ue,
BE : s Ullli ba -"- sift axt.Allvl!ctld ,of SU .;
CANAPIAK HORTIIBRH
Second week December tasa.tM
TWIN qiTt lUPin TRANSIT
ytrat wtek December-- U09-soa III J
l-Tuai Juiun 1..,.. B. III. 7 12 :! 4
hVVMlp, BOCHKETJSR ANB riTOSUUJiaH
ueeemejr . fM,T KM
1(18.000
i.ssij.aa')
1
fcmif... E"Jra 'reamefy. 41c, hUher acorlnr,
4ljl4f4Sc. rtrata. 3IH BlOai Stale dairy. 40e
Imitation creamery uncnansed.
r.uuo iieceipia, bi reaa esira scare
and Wither .Slorasa usltr. Ustru, 03O3lc
LIVE STOCK QUOTATIONS
QliICAGO, Dee. lS.110aS Receipt. 63,00ft
head. Uarket alaw sod atedy Mlied and
buleir, IS 50010.15, Kuod heavy. 10.63 8 BO;
rough, twavy, t9,O3Y.0T lUhl. 1500.03
pise, tr tsa. bulk, lo.ioeio 10. ' l
CATTI-BUeeelpta. " 34.000 head. Market
weak. lOe tower Oeevee, 10913 10, cowa and
,M.u. i -syrw IB. vp.iB. awu.4, 8U.
celpte. sa.000 teail Market
naiivn asu wuiern, isy
8EP
y ta
10. lamba,
ataitdy ta 10c lswrer.
ID .OO'JS.IO,
Sugar Futures Fairly Active
NHW YOBK, Dec It. Thre was a
fairly active osetUntr la iu:ur futures to
day, wlt flrst prle4 Itol Wlnts totrer,
wbteb lima a roAMtlMt vt tht eftslr toise
l tlw wrW tm 'M,l QMtw raw suar.
KNOXVILLE RAILWAY AND LIQHT
CO. REFUNDINQ AND EXTEN8ION
MORTGAGE Qe. DOND3.
8UDJECT TO ONLY WU.OOO FIRST
MORTQAQE Es.
TAX REFUND PENNA. FEDERAL INr
COME TAX PAID.
TrllB SECURITY HAS CONSERVATIVE
RESTRICTIONS ON I8SUANCE OF AD.
DITIONAL BONDS, ALSO A SINKING
FUND.
THE COMPANY'S NET EARNINGS ARE
OVER TWICE ALL DOND INTEREST
AND IT HAS AN AVERAGE DIVIDEND
RECORD FOR 0 YEARS OF OVER 7.
PRICE TO YIELD 5&
FURTHER DETAILS ON REQUEST.
BAKER, AVLIMG & YOUNG
LAND TITLE BLDO.
PHILADELPHIA
BOSTON CHICAGO
HKkERfCa
BANKERS
and
BROKERS
MM CHumreur f. N. E. Cor,
Direct VVlre to New TorkT
Countlo Oat & Eltetrlo
Gen'Lgf, A. & P., 1953
REED A. MORGAN & CO.
WEST END TBUSr DIOO., PUItA.
Meabera ef lb VkiU, btotk Kirtumi
nlBEOTOBV OTf ACCOUNT ANTS
Certtlled 1'ublle AtcouauaU
ysB?&Jh'mii ttfitw
L
Province of
Ontario
Canada
5 Gold Bonds
Intrrett Jane 1, nd Dec. l.
Dae Dec 1, 1020
The estimated population of
this Province i 2.750.000, ap
proximately one-third of the
total population, of Canada.
Price 100 and interest
yielding 5
Deacrlptlva circular PE-B! en requeat
The National City
Company
1421 Chestnut St., Philadelphia
New Yeii CUctta San Fraacliee
lioitoa 1'llliburia
$100 BONDS
Union I'atMiutr Itallwar 4 a, 18(0
Vi LitiTe
Geoneto'a Irfilneton Traelloo lit Bi, 1011
pa 5.13 '
MELLOR & PETP.V
Member, N, Y. I'lilU. Stork Eithaaie,
8J4 C'OSHIKUL'IAI, TUUbT UUJLWIMI
AXNCA1. MKCT1K08
-ks UNION NATIONAL HANK.
l&f PMUdelpliia. JJeewuber
'lha Annual Ueatlns ot the Blockhc
ttila pH t?r tha Bl.ctloa ot Ctnctere will te
GelS 91 Va wUuW 1'HUW BU 4BVUi
111IL
the Btoekbfllilare el
Of nircplnrd will K
S. at tbe tiatlklnA celUa OH Tuaaiiiir. Jstraan
ntraa a isPKAiru'A ra?
i mirimmm r
IXECTION
THK CKNTttAI. KATIOXAZ. UJJiH
u rMiiuu.u'm4,
I Bluttion ffcDWstun' l Uita
MPID' 'rRANtofcRtPIFICATES MOST
ACTIVE IN L0CAI EXCHANGE TRADfl
Advance to Best Price Since 1909 Good Earnines r,
as Reason Movements in Prices, While Narrow!
Are Generally to Higher Levels i
It It had not rieen for rhllmlelphla
IlnpM Trnnslt trust certificates, tlierrt troutd
have been III tl to dlncuen In tha dealing)
on tho I'hlladelphln Stock Hxehnnit to
ilAjr. They were fntr nnl nbore lh moat
active, nnd held tho lead nil through tha
day. From the opening of tha Kiehanim a.
Rood demand Appeared, and before Ions tha
price hnd been advanced to the highest
alnca 1900, 10 Vi betng reached In the first
hour, a gain of 1 na compnred with tho
close of Saturday. From this point thero
wns a small reaction, but tha decllno was
not Inrjte.
Largo blocks "nf tho certificates were
turned over on "Inula transactions. The
Street hunted around for a reason for tho
activity nnd strength, but nothing definite
wan forthcoming, It has been known for
soma time that the earnings ot the Com
pnny aro comparing very well with last
year, nnd to tha fact that the Street under
stood that the monthly earnlngn statement.
to enmo out after the close, vony
very good nhowlng, was ascribed la
activity. It was nlso said u
operating.
I'rom n local ntandnotnt. lv.. e -Corporation
atock BwBaitofe
phla Itnpld Transit certlflcSL ,
activity. Bumlor got Up Jr?t
Um company's t per eent IneonTt
rosa n full polnl. denerallr 7C
ments In prlcca through the liiiL1
row. nut. for the most patt, U,,i "iL3
higher lovel. s ""' w7
nurlnir the morning the mrtt
nulla active, ns compared wllh2?
but tha unseltlement In M.I TL?
nbout ralhor quiet trading bee. .ii
nflernoon. No one In tha striJ,.5''Ja
no very much ror the Ttmnita.rm
yenr. and when anything I, a' 'S
.,uu,r mm ij men mat evtmhri"
bo closed out by Iho end of thTS
" rtiR
LOCAL MINING STOCKS
TONOPAll STOCKS
eeNamara ....
idwar
Ijliah Rxtenalon
cniana
Nnrtharn
lrarua . r.uia
Yat una
Atlanta 10
lilue ilull ., .11 J
nooin ,,..............,, i.i
uornuinaiio
....,,...,,....,... .yo
Hlar .,......,....,,. .13
ula it '
I US
GOLDrinLt) BTOCKS
in
... ."J
1 .1
Inktlen rractlon .05
ondflatd II 11 04
eli) ' Uonao'lliiatVd ' I ! ! I i ! ! ! ! ! !o,i
hM. Asked,
im
if?
Diamond lie
iialdAi
KiwanRi
Hnndi'tnrm 'Kendal! '!!.'!!!!! T !!! !
Bllver I'lck
MlflCKI.t.ANKOUS
Arliona United , ,00
aa Hill .211
i
I
TO
.13
-2
.03
.30
Kevaa
Nevada Wondar
Tccopa Mining
..2.
is-
J.
.12
A
NEW YOItK COFFEE MARKET
NnV TOniC, Dec. IS. Tho market for
coffee futurcn today opened nctlvo. un
changed to a dccllno or 3 points. On the
call thero wns n good support noted for
foreign account, with cotton exchanga
houses and Wall street soiling freely.
Saturday's
December
January ,
1-i-hruary
)i"h ..
icrll ...
.. ....
Juno ....
July ....
AUXUBC
..........
Septsmber
October , .
November
Today-'a
opening.
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Wheat Irrcnulnr In Liverpool
LIVKIU'OOL, Dea 18. Spot wheat was
Irregular today with No. 1 Chicago quoted
nt 17s Sd, unchanged; No. 2 hard winter
16.1 lOd. off Id; No. 1 Northern Manitoba
18 and No. 3 Northern Mnnltoba 16s lOd, Y
n ueuiino oi ia ; corn wan steady wltn
American mixed 3d; higher at 13s lOd,
while plato showed a gain of 1 nt 13a,
Standard Screw Co. Pay8 Dts TV
NKW YOIUC. nca 1.-The fiZ
Scraw Company has declared th ,
semiannual dividend of 3 her nf J
mon stock and extra of 30 percent. MJ
January 3 to stock of record at tk. J
of business today. Tha .tir..11?? :
cUred the regular nemlannual Hi.il?:.
3 per cent on tho preferre.1 A st CmiM
por cont on the proferrcd U stoc? toXm
January 3 to stock of record nl th.J?"?
bui mess today. """fi
im J tToqoeattenatily, Kit batle -
VA iallty ef thrift U tha feeal. 1',
WA ty of pittlec aome portl StIK,
': ef ene'a earalnn la Um tok mWev'Tm'
Wfc at reevUr latarrali. li
Wf,
Union Passenger
Railway
4s
Due March 31, 1960
Particular Upon Application
A. B. Leach & Co.
115 South Fourth Street
Sell Phone Lombard 137
New York Chlcat-o RufTalo
Doaten London. Knc. Baltimore
J Than tba next atep, ftaf
a eertaln sect ha. Vera a.
einalated. I, te ,Mk tsrart.
meat ehannal, la Mt t
rlaee the tavten. w u te
enture th nulnan loeon,
return, oentiiatiela wlU tta.
bUlty of principal.
Several ttmuand ptl4
hare foaml that thla It itii
tly faelllUted by
Ha ThoIj Pajmal Ra
end
Tnretoait Oppotttrra''
1 Anyone who I, Utanetat
U devaleU( the thrift UWt
with the mlnlman ef en
dearer thoeld set fall te
rtgnlarty receive fnreetaiial
OpforlmtHf aa It la Ime4
from fortalfht to fertal,t
Q It will U sent wlthovt -UlUnr
any ohlltitlaa wtt,
vet, bejlnnlux with Ut ccr.
riot luua, upon rveectt f,r
38-n, lulndlng hoeklet M.
plaining Tie Itceiila JMyM
Plan.
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OEichansePltce New York
The War
After The War
This ia -the title o an article written by
ir. Isaac r. Marcnon mhirfi nnnn1 .' 1ie 31
MUrtiy Even,'n Po.3t of November 11, 1916.
Mr. Marcosson describes from personal observation!
in Europe what is being; done to compete for thel
world b trade after the close of the War. This article ?
should interest everv Ameeiean m-inulifii.t. re
tailer, jobber, importer, exporter, merchant, farmer,
Banker or professional man. Wc were so impressed
DL1" ! WC recevc permission of the Curtis
Publtshintf Company to have it reprinted in booklet
form, and we shall he pleased to send any one
interested a copy.
Mr
The-First
National Bank
- of. Philadelphia
315 Cheatnut St.
Safe Investmerit
The Evening Ledger in an editorial of Wednesday, December 13,
under the caption "SWINDLING," says:
"Too much sympathy ihonld not be waited on the so-called
dupea of fake jjroniotlou achemea and t-rlcti-julrk cen
eerna. We) have laws Intended .to prateet the dope ueer from
liliuxlf, and we muat enact law ta protect theea samblere ,
i from their otrn folly. Ouvernment and State supervltlon of all
bond and stock laauea would go a. long way to accomplleb tW
THE R. L. DOLLINGS COMPANY ia a corporation organised
under the laws of Ohio, and is under that supervision of &
Banking Department of Ohio, Just bo are the operations of the
industries which this house finances under tho control and supef
vision of pur SERVICE DEPARTMENT, Wc KNOW, and do
not GUESS, what these industries are doing, and see to It that
they are conducted efficiently and profitably. Only In this way
can we safeguard the investor,
Wc specialise In
PREFERRED STOCK
1 of Industrial Enterprises " -
Snd for BookUt S. K.,
which Im detcriplwe of our metheJt,
THE R.L, DOLLINGS COMPANY
332-334 WIDSNER QUODING
4
PaflafieipWa
Pittsburgh.
Columbus
Indlaaapa
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