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ill FINANCIAL NEWS I
1 Thret of th k)c SUniUtd
Oil lubuldltrj comptnlfi
will thottlf tatlfy inerati
In their ctplUlltatlon, which
will fire ihftreholdtrt stock
bonniea raoflnr from C0
to SOOT,.
f Anl there are tit mor of
th Standard OlU which bar
acoumulatad aufflelent nur
pluiAi to Jnit.fr narhj
ttlbution or ttffi dlrldandl
to itokholdri.
Tho nino tubaldlaUlM In
queitlon, alonr with getmat
Information' com rim tba
Standard Ollt, aro lilted In
oar fortnlchtly publication
"Imreslmenf Opportunities
tj Anyonfl who la lot mm ted
in ineraailnt th oarnlng
power of hli aurptna funda
should frularty recolfo this
Ttlnabfo publication. It will
bo tent u.it bout fhatgr, b
flnntna; with cnrrent lnue,
upon roQueat for 3SrL, in
cladlnr booklet detailing
"Tie Tnenlr Paymenl Plan"
tKntabllslivit tons.
40 Exchange Place New Yotic
January
Bond List
This list Includes bonds legal
for Savings Banks, bonds ex
empt from State Taxes and
bonds eligible as security for
Postal Savings Deposits.
Itiues Range of yield
U S. Government . 2.00 to 2.90
Municipal . 3.70 to 4.25
Railroad . . 3.80 to 6.03
Public Utility 3.62 to 6.00
Foreign Government 5.12 to 7.00
Send for January Circular
P E -85
The National City
Company
1421 Chestnut St., Philadelphia
Maw Tort Cblcaio Can rraaclaco
Boston l'lttibursh
JP
A S0MD
KNOXVILLE RAILWAY &. LIGHT CO.
REFUNDING AND EXTENSION MORT
GAGE 5',i BONDS.
SUDJECT TO ONLY tS17,000 FIRST
MORTGAGE 5S.
TAX REFUND PENNA. FEDERAL IN
COME TAX PAID.
THIS SECURITY HAS CONSERVATIVE
RESTRICTIONS ON ISSUANCE 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 9 YEARS OF OVER 7'i.
PRICE TO YIELD 5Wfc
FURTHER DETAILS ON REQUEST
BAKER, AYLING & YOUNG
LAND TITLE BLDC.
PHILADELPHIA
BOSTON CHICAGO
HEChERfCo.
OANKERS
and
DROKERS
u a rurKTM T aTfl kj rr --.
1111 M w,.w...w. .., ... .. WVI
Members of Phils. Block Ercheme J
it'm't'&ttaj
American Gas Co.
6s, J. & J., 2016
REEDA. MORGAN & CO.
WKSJT END TKDST lll.IKl.. I'HILA.
Members of the I'iilltl, Stork Kxrliamo
COMMONWEALTH I'OWI'.lt RAILWAY AMI
I.K1IIT t'OJII'ANV
Holders of 5-year 0 romerttble hnnds of this
Company Intending lo tunviirt aru reoulred hy
the terms of the bonds to iflve ten daa' uotlr
of such Intention. Such notice should bo ad
dressed either to the Hankers' Trust Company,
lleglstrar for Identification. New York City, or
tu the underelsned. addressed tu So. It Wall
street. New York City.
Irt order to conert bonds Into stocks whlrli
will carry with them dividends payable IVu
ruary 1, 1017. it will ho necessary that notice
of Intention to convert be In hand not later
than January t. 1017. In order that the stocks
may be Issued on such conversion not later than
January 19, 1017.
Ily order of the Kiecutlvs Committee of the
Board of Directors.
JAC'OIl IIKKMt.
Secretary.
ANNUAL ELECTIONS
3E NOTICE IS HEKEUY tllVKN THAT
4pf the animal meeting of the stockholders
of the Lebanon alley Ha lure and I.oaii Ai.ii.
elation, for the imrppae uf election directors In
accordance with the bylaw and the transaction
of such other bualneae that may roine before It.
Si1.1. l?,,bSa ".1 " offlcee. 4U3 Ureiel Hulldln.
Philadelphia, la, . on Tuesday, January 38. mil
at 4 v. m, if. ! JIAuniS.V. ''
Secretary.
TUB CENTRAL NATIONAL 11ANIJ
ur t-uiuiiELrillA.
December II, 1010.
The Annual Election for Directors of tola
R.nk will be held at .he Kmklnr J,7.:..
Yueader, January e, 1U17, between.!! a, m. and
Cashier.
ITIANEL1N NATIONAL HAN It.
Itroad and L'Leataut titreate.
fblladelpbU. December 8. 181".
The Annual Election for Directors will be titlJ
t the banklnaT bouse on Tuesday. January B,
11)1, bctnaen the bsurs of 12 noon and 1 o'clock
J., m. 1. WM. ilAHDT, Cashier.
JE'
12 U.
ANNITAL MEETINGS
aNK NATIONAL UANK.
tlhl I n .Iritil's rtuAmlAB n 4 tit a
Tb Annual lleettui! of the stockholders for
ilia eisctton of Directors for the enautoc ear
will be held at the uasklw hsuae, Tuesdsy,
January 1017. tetweea IS o'clock noea and
1 o'clock p, m,
1 " U. O. BAKER
Cashier.
wrSx COB EXlltAiUC ftATlU.NAU UANK.
I
r'i
tlsi
19
'elsck.
erector the cotalez year, and to transact ausa
ether business as may lesally cwa before tits
KCIi "Sr " " T, , ? "" ssajj 'it wS'i
tan- - xr"STis;aviM' -
!&
ooeu fr
tjMUN JAI1UNAL UAMs.
lAbUadeloala, D.umber a. int.
The Aanvut lU.tlna of the ulxXuUt I
lmmtot t electioa of poettor. J be
MVENJXft LEDGER PIIILAI)ELrHL , MONDAY, JANrABY 8, 1917
NEW YORK STOCK SALES
STOCKS RECOVER IN WALL STREET
AFTER MANY DRIVES BY THE BEARS
Market Shows Good Rallying Power From Low Level.
.Buying of Actlnson Is Based on Statements of
Larger Dividend Tomorrow
NliW YOtlK, .Ian. S.
Hears must have worked imorMrtk'otly on Hip 8linrt slilo tit the nmrkPt for
nitiii.octiifiu. tiH iiulo pmili cotiiu lutvo hefii tiUiahit-tt l)y tlifcHi from the various
drives which thpy (undo nRnliis' tl tho ltndlii Nloclts durliiR thu first halt of
the day. During tho ftircnooh Jcsito t.lvortnnrn uiitl otlur operators rtRsri'SfllVd
nil tho short side Reined to be nlile to do whatever tlioy lilted with United States
Hirer common, t'nloii I'uullr, HentlliiB or nny other iBsno nn which they roll
cetitllitud their utlvtitlnli.
They had inires going down from 1 to S jtalnts In tho usually active Klorkn,
while muny stieelnttles were ftucei down nhotit A points. It wns notieenhte,
however, thnt nil throiiith this period of hear nrtlvlty storlts rnino tacit easy
nml tho tnll.vliiK power of the umrltut lioratiie so pronounced ns lo emtso a
cessation of tho bearish nllneltn In tho nfternnnn.
Then I'lillett Htntes Stoel poinmoit, whlrli hml drtipped from 113 lo 1l0'j.
had ti. tiulcU ndvtince lo nhovr 112. The inllrimd nloclts. which Wer offoretl
down without ttsccrtnlimblu reason early In the day, were In nood demand
ftom midday.
Union Paclltf, whlrli hod sold down to H3' from 144'i, riulrltly roso to
UWn and Atchison, whlrli was In pood ttrtnunil nil throunh the ttay, mnilo tin
advanco of innr than 1 point, rrossltiR lo", with must of the buying based m
positive Hjatemenls that tho dltertors tomorrow will mnltn nn Increased ills
trlbutoii. There were some special movements wholly apart fiom the market effects
of professional operations, The declaration of tho 1 per cent Initial dividend
on Oeneral Motors new slock was a disappointment and was followed by n bleak
in tho prlco of that stock from I ID to 12, tho price fnlliim 1 point at a time.
Woolwortli common, on tlio oilier hnlid, had a violent iiilviinrn of 0 points
to 151, inoviui; tip from H" t 151 n n slnjj'o trtinsartlon. Too oilvonco wns
In responso to tho statcinetit inibllshed last week of the rprordbrettklliR snles
of Hid company In tho holiday period.
Tho beitr operations in the Ronn-nl list wore tinsed on slntoments In rcunrtl
to peace efforts nt Home. allhmiRh the Int'RO nbsorptlon In proRtess for wmo
time was known to have been Inspired by pence prospecls. Tlio course of
forelRit HMdintiRo did not Indlcalo that the skies were any clearer over tho
Kuropean battle rioiiihI. Itelchsmnlks rnbles. which stdd on Saturday at 71,
dropped to '.'? ami crown checks on Vienna declined from 11.77 to 11.40.
TRADING ON CURB IS INFLUENCED
BY DEPRESSION OF 'CHANGE PRICES
N'KW yOltIC, Jan. S.
TiadliiR on the Urond Street Curb wns lulliicnccd for a good part of the
day by tho depression of prices on tho Slock KxchntiRe. A number of tho
war-order stocks sold at new low records. Ktihmnrino dropping lo 22, Wright
Martin Aircraft to 11 and Maxim Munitions to 2'V
For a Rood part of tho day the oil stocks were Renernlly wenk, in spllo
of tho fact that tho Sinclair nml 1'rario prices for Oklahoma oil bail been
advanced lo $1.70. nfiiilnst the hlRh lecord of $l.cr. made last year. Osiir..
Ilomlny wns nunln In ui'Rcnt demand, however, and advanced to tlio new high
Oklahoma VroduelnR. after sellinK nt tho new blRb locord or I I'd. dropped
to in4 but rallied from this price In tho afternoon. Sinclair yielded from U
to t;oia'and Merrltt tlroppctt from 12 U to lli. Itoynl lJtitch declined front GCH.
MlnlnR stocks showed a lack of Interest ami was Renerally established nt
lower prices, rolled Vorde Rxtetision dropped from .".Si lo 37-H and liutlo
Copper mill Kins sold nt 10 to 3.
" Cntted -Motors wns unlet, with sales at -I0V4 to 4B.
Mldvalo Steel was supplied freoly In tho Ilrst half of the .lay. dropping
from 2- to Gl Vj. but rceoveretl most of this loss.
ixin:i'i:Nir.NT
ISIll 'STIIIAL
Sat
Hid. Askid.
Art mi lOM.IosUfS 3Mt
Ainer-llrltlsli MfB '"'
Am Murconl -'"
Amcrlran "Writing 1'aper Hi
I'aiiailitin 'ui' Co '
Can Car & Xdy pret.... KS
Charcoal Iron
Chovtolet Motors
Cramp Shipbuilding ..
Corliss Aetoplaiii)
lUncrson I'liotmsraDh .
Kederal Iyelolf
Haskell & Barker t.'ar.
Ilentleo Mfg
Katlimllon Itrnnzs prcf.
Laurel OH &. Gas
. i:in
. so
aii
to
3
3
01
Uli
sli
ss
l!
Hll
II
15
3
l"i
t.
till
K
I3K
illl
SH
Mi.
nu
ti
I'lole.
lanh'l
3")i
IV'i
133
!)",i-
3
"Hli.
13
;
03
so
mi
iii
3
'."!i
13
Maxim Munitions ..
Mltlvale Steel
N V ShlpbulltllnR. ..
Xnrtlt Am 1'ap
litis Klevotor
I'eerless Motors ...
Poolo Kng
S S Kresga w I ....
Stand Motors
Steel Alloys 'Hi
Submarine Iloat 'iaSSs
Transut-Wlllams I
Trianglo I'lhn "'-4
Todd Shlpyatds "''
I 'lilted Alloy Steel IHW
f S Steamship
I'nited Motors IS
Worltl Kllm T
Wrlglit-Martin Aircraft. II
'nc Cons
ItAILlttlAHS
Rod; Island com 3Ui l
du A pret UK "
do A prof 71i I
Western I'aelllc w I .... 2"'i
Western Pacific pref . . 4H ll
WabaHh-lMttaburgh .... llVi l
tlo pref So S'J , .
STAN'llAltH OIL STIH'KS
Illinois 38 Hi
Ohio 3H7 3K3
l'arlrie Vlpfl 33.1 330
Stand Oil of California.. 3fl'J S1
Sand Oil of New Jersey. .703 71"
Stand Oil of New Vork.. SI"! 37 3M
',' I Vt
41
iVt
X."
I!)
mu
i
13
HI
lili.
'',!
i Vi
43
i It
HI
111
('.&
ku
I
13
Mi
111
HH1',
73 ii
Harnett Oil A lias
Cosden Oil & Oas . .
Cosden & Co defining
federal oil
Inter I'elrol
Houston oil
Merrltt Oil
nkl I'rod & i:
iisaRe Hominy
r loyal Dtllclt
Sequoyah
Sapulpa Itellning ....
Sinclair
II, STOCKS
Hat. '!"
III. I Aakrd IhiIhI
iV 314
I'i'l
IX
(P4
n',4
S3
i :,',
111m
!)..
fillVi
. I'l'.i
17 U
'";
n
30
13
i an
3
HI '.ft
t'.U
!
II
(Hi
01
lo'.'l
tilWj
MIMNIi ' STOCKS
Alaska Standard 33
Atlanta !'
lllsbee Copper tu proKpl.l l-in
Hli: Leilcn I
Huttu Copper & iJInc .. !1i
Unite X V 1 'i
' Vrro tie 1'asco S3
'oiiiiolidnteil Arizona .... Ill,
I'.mma t 'onsol "'.U
first Xatlolial 3
Ooldfleld Merger 'I
Coalfield Consol 1!
(Ireen Monster ' 314
Ilecla Mniing ','i
I lowo Sound " 'j
Indepeudenco head .... 17
Jim Hotler 4
Jumbo KxlonsUiii 37
Kotvanas H
McKinley-D.lrrUBli IH
Magma Cupper 4Vi
Mines Co of Amer 3
Nevada Wonder 3
XlpUsing Mines Co s'.i
Hay Hercules l
Kan Toy IS
Tonopah lixteruiloi) I
West Knd '"on 8K
White Oak 314
St Joseph .eud 17
HONDS
Amer Tel S Tl new 5s. . mo
French Jlunic C 1
Sinclair oil Cm Ill
Todd Slilpant 'is nil
West Pac now 5s no
I'k
li '4
13 ti
II
!)
in
1 3. 1 II
id
ii'.i
in
ii
ut
HIU
111
37
3 1 13-10
3'i
JUli
S
71
3'K,
7T
7'!4
IS
Nil
30
31
33
43
31i
mi
71
S'li
ITa
in
4 '.ft
7"
IW
is
HlO'.ft
!: ii
113
103
93
17
XII
'.'X
111
311
4l',i
31ft
'xt-i
I'll
1414
I .'i-lll
till
3i
l'nu
U7'A
1 1 1 14
1)01
li lb biokins fcooas oq
teeuaa, .-auq
iTSiffifeiaev1''
HIC AIN IN DEPOSITS
Individual nnd Hank Funds Show In
creases in Week
Increases In Individual and bank depollta stood
out prominently In the tatement i.f the con
dition of the members of the Philadelphia
Clearing Houaa Aaeoiiatlon for iho last week.
The Vain of tho furmer waa 1'1.03'J.OOO. and tho
laiter Increased lo.17il.oui) . .
There was a further d.-cllne In loans amount-
rained H.IU.OUO. Ul, . wk.
Jan 8. '17 lui-reaaa Jan. ID. Hi
lana l5S.a3.0l)0 I4JU.0'") I47K.7O1.OII0
lSeDt Hml.). 47o.7So.ouo u,l)Sa.(inn 4js.ms.tiuo
Clrculatluii.. u.ll'J.iioo 1.1. nun lo.r.hU.'int)
Him from bka sr.S.lo.ooo 4.007.000 ta.fclti.oiio
IP l bill 1711.374.001) H.I7B.IIOU 1I11.705.OIHI
Ha Clear II. 37.140.OUll 1. 311, noil M.77I1.1MIO
iteev held.. ioa.HBi.ooo lU'uo.ooo lir,.07'.,.ooo
Ilesv read.. 7S.3U3.U00 1.151.1)00 7-'.43,oiiu
Surplus .... 21.411.000.1148.1)01) 43..MI.0OO
Surplus January lo. Vlfl- M3 341.000: Jan
uary 11. 101.1. l;3.iiX.lir,i). January 1'J lull,
113:103.000: January 7. I01S. llil.0US.oiiQ; Jan
uary B. liS. 113.112.000.
Heaerve Hanks' Discount Itatrs
10 or Ovarii) Over so Oier no
leas, uu to 30. up to U. UP to 00,
Boston ? 3'.J 4 4
New York a 4 4 4
I'hlladalphta .. Js 4 4 4
Cleveland 3ll 4 4S 4lj
Hlchnwnd 4 4 4
Atlanta. .,. 4 4 4
Cblcso 3', 4 4 4'-
St. laMlls 3 4 4 4
MlnneapoUs .. . 4 4 4H
Kansas Cit'. . 4 41i 4l 44
UallSM 4 4 4
ban Francisio. 3 314 4 41i
Avrlcul. Trade aesveptaness. Corn
Over DU. Up to uu. I'p to Oil. modlty.
Boston r 3H tyl 3H
N-JtrTork..... S, ag g .
Philadelphia .. 4V4 3K 3K 3Va
Cleveland 5 , 3k 4 .
Itlehawad 4Vs 3H 3, JVi
Atlanta 4 3t 3K 3
Cnlcaso 5 ate 334
S4.Louls-::.. 4V, j' 3g 3
MlnnaapoUs ... 3V 3K 3h
Kanaas City. . 4 , 4 4 4
Dallas ..'... 4ti 3S 3U 3
Han franclaco S 3 3V 3Vi
Up to thirty days: over thirty to sixty, 4 per
rest; sixty la ninety. 4H per cent: over ninety.
5 pr csnt. f
Last Chance to See Masterpieces
Since the galleries uf the Academy of the
ym Arts will be put In siiape. next weeis
tu acconunoJate the paltulnge of the 112th
aouou.1 xhlbttloo. wbicb ". in Febru
ary this U the las' week In teh may be
v tewed toe John-It Mt'Fadiieo collection,
ut sinsiuh uuutirulecej. which, sow occupies
StOlery JT.
On-
Cotlon lluyers ami Sellers
NEW YOHK. Jan. S. January W
moens buught; Itosenberg sold.
March Sellar. llagedorn. It. Hubbard.
Schanz, Ueer, Sclilll and, McKnaoy bought J
Hopkins. Ileardsley, llyinan. Mitchell,
orvis, Wlggin. Hartcorn and Schley sold.
May Clearman. It. Hubhnid, .Mllchell,
Shtilt. Young, MuKnany, Sellar and ltoyco
bouglit ; Wilson, freeman, llynian. Ilcards
ley and Itosenberg sold.
July Hagedorn. Kelffer. Watkins, Schlll.
fllfford. Norden and fjulld bought : Downs.
Cone, llcntz, itelsensteln, Ueer, O'Connor
and Schanz t-old.
September Wilson bouglit: Cone sold.
October Downs. Ilenlz, Wilson, Orvis
and Wachmatt bought; Kelffer, llymaii,
Itoyca and Jtlch sold.
Liverpool Cotton
I.lVKItPOOL. Jan. 8. There was a good
demand for. spot cotton tody at an advance
of 41 points on the basis of 11.404 for mid
upland. The sales were 8000 bales. Includ
ing 7200 bales American. The leeelpts were
7000 bales, of which 5600 bales were Amer
ican."" The market for futures closed steady
at a net advance of 23&30 points.
STOLEN $10,000 ItESTOllED
Loot of Amateurs Who Held Up Auto
Recovered Through Confession
PITTSBURGH. Jan. 8. All of the
J 10,000 taken from the Flaolus ttas Com
pany's automobile at Taremuni by a trio
of amateur highwaymen was recovered to
day. More than 10000 was found in a
satchel hidden under brush on Bull Creek.
The rest was previously recovered.
John Uuiomel. who, police say. made a
flail confession, Implicating others under ar
rest, led a narty of detectives to tho place
where the loot was concealed.
t
Divorced at 18, to Wed Again
Mrs. Helen U. Parker, eighteen years old,
1921 South Twentieth street, with a divorce
decree in ker hand, today obtained a license
for a second marriage James A Rosaney,
tweuty-oue years old. 1548 South Twentieth
atreet, her nance, and her father. Joseph
ii. Brown, weie with her. She waa divorced,
she aU, last November.
NVt
llla.li. i,. rin. 'lute.
Adtatire Itlllll . . :. IS IX IX
AJax llubber VI 73 1
Alaska Hold Mines lot. Wi
Alaska Juneau . . 7 7 7 ft
Allls Chalmers pf. x. xlli x3 ' Vi
Am II Sugar Wl'i l3ii !i
Am Can 45ft HIU 47Vi '!i
do pref lit) Inn 14 tnoli - In
Am Car & Fdv . . rut n.i, nd I
do prer 117 117 117 ' fi
Am Cotton oil ... 1!4 lii',4 l!"it 1ft
Adams tlxpress. . Ilu 137 no S
Am Hide H t.enlh. II II 14
do prof 7.114 II 711ft - !ft
Am Ire 31 3ih srtai iyj
Am Mnseed IxAft Is Ix-ifc i-
do prof U B ti 3'4
Am toco ?tii inift 77 Ii
Am Smelting His'.ft in: 14 t71i U
do pref llrtll nni l mil
do pref U nl',4 l 01 - - 14
Am Sugar lii!M,4 I no 14 too 14
do pref : I3lll4 13014 1304
Am Sleel Fdv . . . nl 'Id? HI -I
Am Tel ft Tel ...13.114 I'ISh 13314
Am Tobacco prer. lux ins lux 14
vm Woolen H'4 l.itft I3U 14
do pref Mflli o.i'li Dili ' 'i
'Am Writ I'np pief Irt ll'.ft tllft .''ft
Amer Kinr .in a.vh natti ft
Aonrontla Copper x.l'i sill X3',4 14
Atelilson l:'.-4 1 1)3 '4 lo:Bft 'Hi
do pref !) x'i IixTn !h
A II & At II'h Mtft 111ft s
Al fluff A W i.. 11314 10X14 1131ft lift
linliltvln Loco .is ns;, S, 311
Halt & old XI K.l?, xl 1-
Itrklyn Itaii Trail. X! , XI li x'l -.-
Ittirns Bros Ii .1 Olf, i;t -3
Hulle & Superior. 1014 4:.')i 1.-t, I
California Pel 3.1 3lft 3lft (!A
do pref 33 34 Vi filti I
I'aiinillnn Pnelflc. Hln IA71i IBIHft ' 1ft
Cenlrnl Leather . . HI lii'.ft ll.l'ft . ft
do prer 1 1 1 14 1 1 1 !ft 1 1 4 14 'i
ChHiidlt-r .Motor. ..I11IM1 nil", Inl'li . ')i
1 'lies 11 nil Ohio .. . nia, ill', ton, ..,..
t'ltlc liient W 1.114 1314 Lilt
do pref A In .'!? In .....
Clilr Mil A Ht P... !H',4 l IIIV4 ; 14
do pref 13 I'll 1311ft tain,
t and St Louis fin no fin
Chi nnd X W 13314 133 l!3'a
I'ltlelt Priiboily. .. 73 73 7.1
font ''no xx'4 xx xx'j I
Columbln fins . . . . I'JIh H'ft 13 rU
I'll! 11 I & P .13 33 33 ft
Chill Copper '-'Hli 3 Hi Sltft
Chlno Copper 33'4 33-ift A.IVi "ft
Col Fuel ft Iron.. I31a 1,1 IS'..., '4
Consol lias 1:1114 I3!'!H l.m'.ft '
Coin Prod 331ft 3lft 33 l'i
t'ruclble Sleel ... '13'ft 11114 3Vi Vi
do pfd 11.114 M314 ll14 ' M;
Cuban Cane Sub. . .13 ni'.i .11 lift
do pfd usii H.l 3i 1',
Hrlggs-Senbiiry .. n ,111 .Ml I
Pen A ltlo fir .... 17 17 17
do iitcf 3x'ft 37 16 3X!ft 1ft
Distil Si-rur Sii '"1 3X', :: "ft
Dome .Mines 33 3114 33
Kris 33',-, 33'lft 33 1ft i !ft
ilo 1st pier ix'ft IX IX 14
do 2d prer ... . 37 V, 37 V, 37 li 14
Cen Chem 31!) 3 in 31!) II
linn Klectrli' 107 "ft HI7'!ft l7"ft : '.'ft
lien Motor new ..13714 131! 133 X
tloodiicli Co .IK),-, .lil-jjj .IS !ft
do prer 1 1 1 ',4 1 1 1 14 1 1 1 14 14
Gruiihy Consol . . . xx X7 X7
Ureal North pier.. una', ny, una-, 1,1,
(It Xoith Or etfs. 3r,)-, :i 311 'ft
(Srrcn-Can Cop .. II HMft 130ft "ft
(illlf State Sleel.. 131 137 '4 13714 314
Inspiration Con .. ,1x .17 r.7"i Oft
lot Agr Corp pr.. 13", I3ft I'Mft "ft
lot liarv Cor .. x.V.4 x.1'.4 H.114 '3
Inlerboro Con ... isa ll"i I3U tft
do prer ishTm iix'', i!!UH -. "ft
liiternl Paper . . 1.1 131, I Hft
do prer luiiVi WM'li Inn Hi
lilt Nickel IS U II 43
lut Mer Mar 3.V)ft 311', 3.114 'h
tlo pret 83 li 83, 8C 7ft
Jewel Tea 77 77 77 ',4
Kings Count) HI. 133 133 133 'a
Kan City Southern ssift 2.l',ft 3.1 1ft
Killy Spring Tire. HI'n n 'Hlft f 1ft
Keiiuecott Copper. IH-ft CITft HVi ....
Lackawanna Steel xn HI', x.1 '.4
Lake Krle .t West 3314 33', 3314 Hi
do pref .iuft .ii!ft r.uOft - '
Lee I lubber 33 16 S'.a 33 !s !,
Lehigh Valley 77'4 "7'.4 77 14 '.4
Long Island 33 1 31 3.1', ) n,
Loose-Wiles Itlsr. 31I 31 3.114 314
Murkily Co pier... 0.11ft 0.11ft "-lift li
.Maxwell Motors .. .1314 .10 .ill', 1
do 1st prer ....71 71 71 I
do 2d pref 3714 37 37
Mexican Pet lulli Hi lift 10:14 14
Miami Copper HH4 Hi lu'H '!
Min and S I, new. 30 3 3(1
Missouri i'ao w I. :tl"i :tHi 311', 4- ',',
do prer w I.... .ix'ft .ixti sxTft nft
do t c Ill', It It'-', ,- ',
Mo.. Kan & Te. Iilft !' !)',, 1',
National Biscuit .133 131 131 H4
Natl ttnamcl .. ..371i 37 3714 "ft
Nat Lead 113 113 113 -,- T
Nevada Co ss?', 3:t'i 3J14
X V Central 103 lo', 103
X Y C & St I. 381ft ;tx'(, sxn Hi
X Y X II & II fil l!ft llili l'i
N Y O & W 3X14 3X!h 3X14 -I 'i
Xorf & West 13114 133 1311', -t 1
do pref xn xn xa .4
Xorth .Amer ni)Tft nx'ft 87 1 '(,
North Pacific ...I'lXli lux 10x14 1ft
Ohio Cities Cas ..ion HHIi Inc. I
Owens Hot Ma C. inn '.ft Hioift Hinvft
Pcnna lilt 37 ,i1i nnift
I
Illah. Lew.
People's Has H'Hi In.lli
Phila Co II It
Plllslig Cosl t r . I.Mi to
tlo pref Hill 1 (IX 14
Pere Mnnpiclle w I 3'J',i 31 li
do pier 1" So
Pressed Steel Car 7M1 ,7.V.i
Pilb Ker Cor N .1.13014 131)14 ISO 1,4
Net
Close, rhse.
I0.1H
II
U'lft
inn
3i
'.11
Ml!
quicksilver 31ft
Hwy Sleel Spring. All
Hay Cons 3nii
Iterating Ini'i
Iteptlb tr ,1 Steel xnl4
do pref H'.lti
Shnt Copper .... 3?
Seaboard Air Linn 17
do m-af 311
Senrsnoebiicli ..'li!)
do pref
Slnss-Shclfleld .
Southern Parlllc
Southern lty . . .
do pref
Slill .Motor . .
Studebnker . . . .
Teim Cop & C
'I'eXas Company
3 '.ft
4ll',4 f'"
in Jn-H
imili loiU
x',4 mill
I 4t(,
:- li
-
4
' '.ft
" 1ft
- V,
-l Hi
li
- .'.4
1)3', 11)3 li
3314 2314
17 17
,3714 31' -t 1ft
33X 33X , 3-1i
137 13?
II?!!-, ns 1
Oil 14 1 Vft -1 1ft
SOU 3lts - 1m
(1X14 xl6
ID'', SOU ' 11ft
. . .toil',4 I ii IV, luH,4 -Hi
wl I T x I Hi ',
..23.1 3.13 3.1 Hi
.127
. mil-,
. 011ft
. 33 !ft
"xli
. f.o U
Third Avenue ... 111(4 Id 1(1
Toll Products finii ,111ft .1.1!,
fnderwood Type. 1 03 14 I11.II4 Hl.114
Ii
1 14
fulled Drug 71
I'nlon Bag a Pan. I3!i
do pref li.l !',
fulled Cigar Mfg IH
I 'tilled ''Ik Sirs
foiled Ft ult ...
I'nlon Pnellli'. . .
do pref . .J. , ,
f M C I P ft F .
1 1)3
l.lo
.11114
83 'i
21
II (4
Hli
11.1
1 1 'ft
HH 'a
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n',4
13',
11.1
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13(1
1.1'S Dili
S3 X3
31 31
f S fnill Alcohol. Illl', 1131', Hill',
.Hlllv lnl'4 HIH4
. 311 Illl, I!14
.21 31 21
. (I3'4 nj ii'J',4
.11.1'. 11.1'm 1131ft
' ?ft
--lift
t iH
V4
16
la
I I j
Ift
1ft
ilo pfd
f S dealt) .. .
Cn lty Inv pfd
f S Itubbei'. ..
do 1st IH'it . .
f S Smelters. .
f S Sleel
do prd
flnb Coiiper .
firth Her
Vn Car Chin. .
Wnbash
do prer A . . .
do prer 11. . .
Wills Fnrgo .
Western I'nlon
West Klretrle
do right
West Alnr.iland . . sin
Wheel nnd I. I: w I 31 Va
Willys ovi'iltind . . 37
While Motor Hi 14
Woolivorlh 1,11 H3ft 1,11
. MS ibtlilenil. Wrll-.'nrso. .1 nnd 33 1-3 or
Irn: .Miiliutiinu Coal ItnlOund Cumiuio, f.;
.North, ni I'm Mr. , .
(Ill,
.113
.1211
.I'll',
. 23
.III)
. Hli
. .Vi
3 II "ft
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.3 I 14
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1 1 14
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. DC !l.1
1.114
:
3ll!ft
33ft
I!)
(131ft
1131ft -'-
120
I n Hi 'ft
33 ',
Illl ... .
111ft !ft
31', li
30 W li
107', I If,
!) '4
33', li
3 I 14
3(1 ,
II)
!)
nn
New York Bond Sales
Stimuli
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Iiiinii Teim 1,1,1,1 fie...
Ci 11 l.ou ,1s lid
do fis IIIIT,
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cites fi Ohio 4Wa...
do ronv fia
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('Ill II H ii Joint la ..
lo III :i
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do ,il Is
in i ,nv fia
do Is 103.1
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fill Mil ft PS In
Chi It I H V rfil la..,
In 4i
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city of Paris iln. . . ,
Ciiinp I'uu Itec Co Cm.
Con (las r.inv Ca . . . .
cinnliirlanil Tel .In..,
Del & Hml rfd is ...
D.N Si 1 1 In (ir Is
do rfd .la
IHtroh L'nlteil I'iK. . .
Du I'tiiil Puivder I'aa
Hrl urlni la
Ilml A Mnn rfd fix
II! ,si,el del, I 'a a
III (Vnt rfd Is
do Is 10.13
Intern Mel I'sa
Inlerb It T ref .'. . ..
Inter .11 er Jlur (Is
Japiities,. l,a
do new k a -Pes . .
do Is
k 1: rt an it -in
Kan City i'o 1st 3s. .
do fis
Kun City Ter 1st la. .
Lexlnstnn & I: fis.. . .
Lat'lta Steel As 1033..
ilo 3s 111.10
Lnclrdo lias rfd oh . .
Lk Sh del, la 1H31...
I. ell V of N Y 4 '3 rec.
Louis Nnati 4s
l.eh Nliv 4s
Mich Cent ,1 In
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do 4fl
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Morris & Ksaex 3tie..
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Nu I Tube fis
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PRICE MOVEMENTS ARE NARROW
ON THE PHILADELPHIA EXCHANGE
R
apitl Transit Trust Certificates Most Active Baldwij
Locomotive Business Large in Last Year Penn- f
sylvania Railroad Earnings Good
Trailers In tho Philadelphia financial dis
trict found very little to hold their ntten
lion in Hie trading on Hie Philadelphia
Stock Kxcliango today. Mcvemeuls through
out the list of local storks were narrow,
with the general tendency lo lower levels
ns compared with Ike close of Saturday,
although the losses In nenrly nil cases were
small. Philadelphia Itapltl Transit trust
ceitincnles were the most active of tho
distinctly home Issues, and. after opening
nl 11 fractional loss, sold n Irllle abovo the
llnal of Saturday. This gain was not held,
however. In some quarters. It Is expected
Mutt the directors, at their meeting next
Monday, will declare another dividend.
Nothing has been hentil In the Street for
some days about the proposed deal between
lite Lehigh Conl nnd Xltvlgatloii Company
and the Pennsylvania ttnllrnatt tegartllng
the Lehigh ami New fnglalid llallroad. In
which Pennsylvania Is li)lng to obtain nn
Inlet est. From what rntild bo lent tied today
the negotiations lone not bprn dropped, but
nothing definite has been agreed upon. To
day Navigation sold at a loss of nearly a
pulnl, but the tummer In the stock was
small. Lnke Superior Corporation, whlrli
usually makes up a large purl or the deal
ings In the home storks, was lery unlet
throughout the iln.Cs Hading. It gained a
small reaction hi Hie morning, but lust il
,and a trllle more In Hip afternoon, less than
GOD shares or the slork changing hands.
(Julie n little interest, was shown In the
ooitu ilinfllt'ii. riunni; KenPrni la -... ,1
.......1 n,,. it. ti.i. H..,... ...... rTf Uit
mom 0,1,,- 111 tin-, iiiiuitri, . in.linn .li,'l
tlio price nilvntiiliig to !'. a gain erin
nn compared with the Inst luevious cl,i
Flgutes mi the onion, or locomonWa
by the Baldwin Lnromoine Works Jnir-H
t til R rnme nut tnda Tie total fu3J
ml wns l'.)8!l. whlrli I- the lare.,, .V"fl
mm ..m, ,-, - ,.,. ,7 -. "in
1,.,,,. ,,,,,-i, -.., . , . , ,.,., ii.,i lj. .
locomotive rompniiv Tins n flenj
some In the Streel ns loreeastlne a I.
...l.lA.,.A,..t., ,.e nM:..nH e. .... n ''
in iiu-1 i-iw, 1 ., ,,ritt nu hid year Til
nitinini teport Is rxpeueii m about g,
weeks, It wan poiiiteii mu thai 'he aun, ?
price received tor loromot ve. in th iiri
Tew years lias liiirenpil nbmn CO rer ta
It was figured tmlm thtit iho rennrtil
anla Itallroad ended las, veor with inm
earnings or about Jl.'l.fiuu nnn nhoi.cs
previous year. The "mpim, nppilcakli IN
dividends and muupllaispil imriroiemnitf
sAxmisai tun nnni . .r ,ii,nu a . . . --
,.,,,.. ,,,, ,..,,., ... , iiu,55)iij'
more than tile yenr "f IT. it ..,
mated Hint the net 1. -lining, would pralc
ooi.v nut in- nun , 1 1, .tu tun, uuu Ir.Ml
Investment and oshei ouiidc uirosne j-wS
about J3. 1100, OOd mure than lots, tja
gain was offset by npiunsioiaiplv $5,vl)oS
heavier lived charges The lialanci f
dividends was ilo'o in S.' roo.0oj, tu'
regular dividend reijuirenipp', ainounl t,
J2l), 332.(1011. The p -n entatge rarntl ,'
.,.- .....,. ...n.. ..l.n..( III K .. . .. '
rent III yi'to and S X in l'i It Tun latrjtiij
eai'O'.ngs 011 inr 1 im-i. ,vii. .nn iarget sicca
ly".', Wlll'll II i,Pt I, TI ,-ltl
Sales in Philadelphia
A
Net
1 1 ISl) Low. CliUP. clot".
.1(1 Acme Tea
pW t r. ni' OITft 1)77, 1ft
.1 Am (las.. . 130 130 130 3
211 Am llys pt 7 !) I), li
70 Bald Loco. 3.1'i .1.1 .1.1'.', 2V4
t fiat It ft S I r. tl.'l (I'l till -i I
fill do pfd. . r,; .15 .17
.13 Cen Asp pf (IX (IX iix 3V4
luo lot Pap . . IHft tl'ft 117ft
33 Ins Co X A 2li 3(1' 1 3li I
lllll Key n'el. . It II II
Ill 3 LkSupi'ip 21) II) 14 ID 16 "ft
107 Loll Nov.. 81',, XI XI 7
IX l.eh Valley 7X14 IX 7X '!,
sn l.eh Vol Tr 23 337ft 2.1 14
33 do pfd . . 13 43 13
.ill) Nev Cons. 331', 3.1?ft 3314 1ft
3(1 Nottli Pa. 1)1 III lit I
43il Prima It It .17 1ft 3(l"ft 37 1ft
.13 Pa Salt M. ll.V'i H.lli !.' 14
13 Phila Co
cum pf. . 1114 IH,4 IH4 14
3!t(i i'hila i:i,r :i3'!ft :i:i',ft :1:11ft 1ft
313.1 I UIT Ir cfs 33 ft 33', 3316
130 Heading. ..IDI'ft ion, 10114 1ft
333 Ton Bel... lift I II-HI lift l-Hl
3.1 Ton Min.. 31ft 31ft .17ft 1ft
.131 I'nlon Tiac 4(114 401, 1(1', "ft
I113 fn ! Imp. nn'.ft mi III)
faiun f S Sleel. 113'Ji lloli 1131ft ' 1ft
S3 York l!y pf 38 ax :ix
l-lx-dlildend. tNet change from Sat
urday's New Vork close.
IIUMi.s Net
Illah. Low. Closr. riiae.
S20UII A liftlOl us ilil'ft Dill, 07ft -1- "ft
lllllll Bald L 1st
Ds Hllli MIVi IDIli li
3000 Klec ft l'eo
Tr 4s . . XI XI XI
loon l.eh N Imp
4s IH 1)1 1)7
I noon do runs
4'ss ...1021', l"31i HUli
1 1000 l.eh Vcotts
4 'is '03. Ml', Ml Ml', U
inoo do Coal Ds
reg M.i in," M.I .....
MOO Leh ft New
Ens 5s..l0tVi I ill', lot', 1ft
coon Matket HI
1:1 is .. o:ii mi', 071',
100(1 Pa Co gen
i ...1031, HI31', 10.11', 14
fiuoo do cons '
4 'is ...Ml 14 M7'i 107(4 1ft
3(1(111 Pa ft Mil
Stl (is ...11)714 Mill Mill l'i
inoo I'hila Co
cons Ss.. 90 so 90
401)00 dead gen
4s onift a.-..!-, ooift - ift
inoo dead - Jr.
Cent Is.. 9',4 0(114 90 14 -I- V4
loon York llwy
1st 5s.. 9X14 9314 9X16
OOVERNMEXT HONDS
lllil. Asked.
Ul)'.
3m registered 1030
3s coupon 103U
3h reitlatrreil 1018
its coupon 101S.
4s refilfttercd 1U33
4n coupon 1U33
3a registered 104'i
3s coupon 104 ii
ranulna 3s reeisteretl lli.llt
. nu"!
.iniila
.1001, ..
.Ill) lli
.liiii'i
.101
.Ml
. Uliti
IliRh Cloth Prices Check ilusincss
MAXCIIESTFIl. Kng.. Jan. S. Yarns
I'nro dull. Tho higher prices asked for
cloths aro checking business.
COTTON SELLS HIGH;
SUPPLY SCATTERED'
Upturn in Liverpool and Increas.
injr- Bullish Feeling Around
Ring Cause Strength
NIIW YOHK, Jan. 8 - 1 ol'on rtconW
advances of I' to lo points today on the nl
Tho tone wns Hi in. being mllucncctl ly u
upturn In Llterpool nod b; 1 gentriSi
bullish follng hruund iiio nng. which cto
to be Increasing.
Their wan tirllie boving bv H'ltt iii
commission houses, and some room tradm
anil southern Ititeiests also purchared, irhbi
Llverp.ol took vlitually all montlH on
moilerale scale.
With the exception of proflt-Uklm n
operators, who putrhased List weeWthat
was only 11 scattered and siant supply, inj
cotton rould only lie bought on aiiuntlq
bids.
After the rail prices held steady at Ci
cnily loirls during the Ilrst IHtcen minute
The early iidvance earned May e
Hacts tin to 18.21 or 31 points above Sal
ui day's r!on and 210 points above thelo.
leel iiitirhed Just oeroie 1 linstmas,
Thero was realizing which was veil IV
snrbed by Ireiiii otitsido buying and e
tlnueil' rlelnand frm spot houses, but li
pronimlty or the lensus teport Incrti
the disposition 10 take prohis anil a no.
rracllonttry sentiment divelmi'd during It
middle of the morning May reacted t
IX.15 or about 10 point- from the high lea
of the morning, and fluctuations adtr I
o'clock weio Irregular
Sut. close. Open 1 1 n nl, 12m. lit
.Innunrr 17.00 IS 3.1
Mnrih 18.30
.May ls.UO
.Is- 18.11.1
Dctober .. . . v 17.13
nilier . . 1 .10
. . 18 3.1
IS Till 1X.4T H(
18 7, 18.73 11)
He
Spot
18 4.1
18 73
IK.7S is so i.:s '11
I7..13 17 47 17.41 1U
IT. .ill
ItAK SILVER
lar
''ll' San-nay. JImiJi
l.nmtnii Ineillc) .... Hli'. Xim Hollli
Nrnir Vorl (rental 7fi', 7:S Hn'liil
New VorU.. HO.Tilo.o'.'l aos soo.313 ;:i,oh
iiiRKCTnnr or accquntaxts
Crrtlfled I'ulillr Arcountanti
t.AWIICNlU: Il UKOWN I CO.
Ml.'. ItKAI. KSTATH TltL'ST IICIUHNO
HK.N'nV C. MAOEB
KTRPHHN UIP.Anu lll'II.DINO
WILLIAM r.. MONTEMU3
1131) l'llNT?,l.T Bl.
IIUItN'H 4 SPHAKMAN
tiic iiounsu
HIVIDKXIIS
NO II TUB UN Ttl'ST f II 31 TAJ
Milli and fMirliiK Harden
Plill.i I -l,i In. .Inn 4, tilt
t n ntnitltiii, n. 1ti lin.inl nt DlrrCtOrl S
thin day. illiailel'v i.n-ulend of lire IJT
,ent was dpe'Hred. p.i.aliie on .Linuarj 15. P1-
n stocltholder. of reror'l nn Ihe bonks M b
company at the clns- nf hus'iiiss Jantuff.
1IU7, and Hie sum of S'lOO.OOO ns addtJ 1C
iilns .irrnuiu.
Cherlta fof dividend, will lie mallll.
WILLIAM II ci'RTls J- Tnaiuia
iNSPitANiu'. cn.ni'ANy op vnitni amou
I llir'l inn, t.tiinui Nirrri..
, I'lilladnlplila January S. DU
The Illrectora ha'.e tills da ilfclarri 5
usual IilvldiMid of 0 per lent, nnd an rr
Dividend of 4 per lent, panlite on Januirt
inie, a. C?s.l UoLlaea a e..i,..ii,t franssi sr ft 14
fjll, ill Dills ItlUMUt-I a v' i""" uornimj vt
(hfrhs will l.p in-ii'i!.
T, HOUAUD AVniOIIT TreUVtf
$2,000,000
Federal Sugar Refining Company
Dated January 1, 1917
Three-Year 5 Gold Notes
Capitalization
Due January 1 1920
5 Gold Notes $2,000,000
Preferred Stock (c Cumulative) 3,322,800
Common Stock , 6,677,200
Net earnings available for interest charges on these notes for the year
ended June 1, 1916, were over fourteen times requirements.
Net current assets as of September 30, 1916, were $2,996,000. '
Proceeds of this issue will be used for the redemption of the $2,000,000
5 Gold Notes maturing May 1, 1917.
Price: 98?6 and Accrued Interest, Yielding 5lA
i
A. B. Leach & Company '
, New. York
Chicago
Investment Securities
Boston Philadelphia 0 Baltimore
Buffalo
This advertisement is inserted as a matter of record as the entire issue has been sold
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