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EVENING LEDaER-PnTLADELPHTA, SATURDAY, JANTTARY
20, 1917
wwvwwnwwytfn ' PWU ' "HIP
Merchants Union Trust Go.
715-717-719 Chestnut Street
DIRECTORS
John Stokes Adams C. Clarence Millet
FINANCIAL NEWS
John 3. Dloren
Ceorite Butnham, Jf.
William J. Clark
Samuel 3. Fela
Clarence L. Ilarr'r
Edward C. McCollIn
Henry F. Mitchell
S. Davis Pane
'Horace T. Potts
James R Lelpef
lidwntd 3. Soyfea
William C. Stbeve?
8TATEMENT OP CONDITION
December SOtlt, 10 1 8
RESOURCES
i I
Canll nnd 111 Banks ". . . J2J4.098.38
Demand Loans CS0.tSI.6A
Time I.onns no.T17.SS
Bonds nnd Stocks. ....... .... 1,622, '163.11
Mortgages 251,725.00
Ilenl Estate 531,061,10
banking House. Vaults, etc. . . . 885,000.(10
Miscellaneous St.C93.62
SPECULATION AND MANIPULATION
EFFORTS IN STOCKS ON BEAR SIDE
Offering of Sleel Common to Below 114 Fails to Dislodge
Holdings and Quiet Demand Carries Price Back.
Movements in Bethlehem Steel Variable
Iliyh Points in Today's Financial A'aws
Mffortn at apccnlalion and manipulation in Blacks in Wall street centered
on bear side. Scant offering caused small tradina on Curb, with stoth'it
tjemrally stronn. Wheat nnd cnlton lower. Bank clearings throughout
mtntrt) for week showed another gain, fried of bar silver higher, trnpctinl
Bank of Ucrmang gained gold in week. New York bank statement allowed
tnerettaca tn average and actual loan, deposits and surplus.
J3.250.477.: I
LIABILITIES
Capital f 1.000,000.0?
Surplus 150,000.00
Undivided Proflla 98.700.39
Deposits 2,020(044.71
Front nnd Loss 8,089.01
Miscellaneous 2.134,13
INCOME
J3.2SO.477.24
:count
Year endjnic December 3lt, 1010.
Dross Income T140.910.31
, 90.047.S5
Disbursements ....
Net Income
Dlvldonds Paid 10,000.00
To Undivided Troflts 20.00fi.0t
Profit and Lobs 10.S86.1S
J70.892.49
J70.S02.19
TRUST DEPARTMENT
During tho year 1916 this Department
showed an Increnso in earnings of $0,811.89.
The Company accepted Trusteeship in six
teen cases.
Trust Funds as compared with January
1, 1916, show an Increase na follows:
Investments In inurt-
caeen
Other Inwstments... .
Uninvested (Including
fund nwuttlnc distribution)
1010,002.01
073,057.73
$80,033.34
103,074.76
107.401.0!) 6S.nl 1.10
Total
J1.700.U30.83 1104,728.10
Audits nnd examinations linvo boon tnnilo
of the affairs of the Company as usual by
the State Banking Department, nnd four
aiv j by our Certified Public Accountants. Messrs.
J'riCC. UlcnuuDU mm v,.ini,uoy.
Ily order of tho Hoard.
JOHN S. IJIORKN, President
Philadelphia, January 3d, 1917. ,
NlttV YORK. Jan. 20.
The stoclt market ricrniti ncted In a natural manner In tho two hour nf
bttslneM, tho only active- speculation nnd efforts at manipulation being on tho
bear side. Hear orient torn offered T'nitod States Hteet common down tit the
beginning of business to Mow 114, lmt'fuiled to dislodge any stork, nnd n iilot
demand easily carried tho iirlre of tho stock up riParly I point from the curly
low IpVoI,
Similar movements occurred tn the Atnrlno Issues. Thp preferred was offered
down more than 1 point to 87, hut within n short time was tip tn l'.. Atlantic,
nulf ami West Indies matin a miln of morn than 1 point In the first hour find
t'ncillo Stall oontlntietl its upward movement, nolllng nl 24. The public tttllltles
Issues weio again strong, Ohio Cities Has udvnnrlnjr ft pnlnls to llfi. nnd Montana
Power rose t points to lot's. With those ndvnneos, the public lmlmr hnlted.
and In tho late forenoon room traders iitmln offeretl stocks at concessions, hut
tho supply was comparatively small, nnd tho recessions which occurred from
tho selling wore without much Importance.
llethlchcm. which wns closely watched because of the interest attached to
tho tntigln in the Russian financing, advanced 10 pnlmt to 430 early in the day,
but at the end of tho first hour wns down to 111 and rrom this tmint It recovered
to -ILTi.
Nearly all tho comment on iho floor of tho Kxcluiugo was ttbotit the manner
In which stocks were h!d. When the United States rtleel common yielded to
below 114 yesterday and receded this morning holders of stocks were eager to
Increnso their lines Instead of rcilucin.tr them, and all around the room the same
conditions wero In evidence, declines bringing In additional buying orders from
those already long of the various slocks. Willi this condition prevaillnit, tho
result or the bear raids was simply a rurthor Increnso In tho already nxcosslvo
short acoount.
Tho bond market continued to show a firm tone, with most interest attached
to the trading on tho foreign issues. AiigJoKrcncli 5s sold at l2' ami City of
Paris Cs wero traded In at !. to 9f.. San Krnncisoo Issues were" In Rood
demand, with tho 6s selling nt 86:'4. mid there wns fairly large trading in a
number of the St. Paul Issues, without much rhango In price.
PRICES BETTER ON NEW YORK CURB;
SCANT OFFERINGS HOLD TRADING
.NEW YORK, Jan. 20.
Tho Curb mnrknt Bhowod a generally strotiR tone, but. dealings wern un
ttsunlly small In volume, duo to a great extent to scant offerittRs even at hlRhor
levels. There wore only a few sales of leading stocks, liko Midvale. Steel, with
out materia! change, in price.
United Motors wns a strong feature, advancing from 47V4 to 48'4. There
wns a good demand for Kmerson Phonograph, which rose from Si to I2M
Oil stocks were weak, Klk Uusln selling from 9i to 9, nnd Mcrrltt OH dropped
1 point to lC'yi. Osage Hominy was steady at a to 0. Lima Locomotlvo was a
strong feature, ranging from 58U to f9. Submarine Uont sold from 21 to 21 H.
"Your Qoard of Directors declres to call
the especial attention of the stockholders of
the Company to the work of the Tru6t
Department, which by reason of Its per.
connel la able to Olve such prompt and
careful attention to the buslnees committed
to Its charge as warrants the fullest com.
mendatlon thereof by each of you In recom.
mendatlon wherevei"such service be needed.
We feel that this business receives a per.
onal official overrlnht Imposslblo to bo
obtained where questions of routine pass
almost entirely under the control of clerks
or persons Inexperienced In trust matters."
From Annual Report, 1916,
Merchants Union Trust Go.
715-717-719 Chestnut Street
Tnuts
Pepgtits
Securities and Storage Vaults
Tax Returns State pnil Federal
Bond Department
IN'ltUSTKIAI.S
nw.
Aetna Kxploslves 3',
Amer-llrltlsh Mfg II
Amer Marconi STf.
Amer Writ Paper I
Can Car & Fdy , 2tl
Can far & Kdy pfd.... fir,
Carwen Steel 1'4
Charcoal Iron 7
Cnrlien Steel US
Chevrulet Motors If a
Cramp Shipbuilding .... 80
Curtfjs Aeroplano 17
Kmerson Phonograph ..'. II
Federal Uyehtuff till
Haskell & Barker Cur. . . 10
Hendee Mfg SO
Kathodlon Bronze pfd. . . 24
Laurel Oil & Oas A
Lima Loco new BHifc
Muxlin Munitions 2V4
Midvale Mjeel 01 ,
K Y .Shipbuilding 13
i tls Klevator 58
Peerless Motors IS
Poole ling IS
Scr(pis-Bouth SO
S H Krestfe w I ....... . IS
Ktaudurd Motors A
St Joseph Lead 11
Steel Alloys H
Submarine Boat 31
.Santa 'eeolla S7
Santa I'vcella pfd Stt
Transuo Williams 10
Trlansl" Film 3ty
Todd Shipyards 83
United Alloy Steel 5194
U S Steamship
United .Motors , 41
United Sugar SH
World Film ,
Wright-Martin ......... 134
aino Concentrating ..... 1
Yes. rlosn.
Aftki (1. (sale)
13
.1
80'
OS
IS 'A
8
IDS
3
IS
00
S3
llti
III
II
SO
a'i
fl
so
s
(UK
1314
OS
so
IIS
IS
V4
17V
ss
S8t4
no
lM
s
87
53 Vi
34
18
SO
ISO
114
58 4
S"fc
01K,
lsK
Sl'A
ixnni'i:.vi)i:.vr on,
rim
Harnett till a rins tr
t'osden nil & fins 1 1 1,
i-osaen & t'o iter 11
Klk Knsin hTi
Federal oil on
Inter petroleum 11
Houston OH so
Menitt OH r,y,
Oklahoma Prod a It.... la
usage Hominy 8
Royal Dutch fiijijf,
Sequoyah a
Snpulpa Iluf
Sinclair
STOfKS
V. M HoM.
Al,",l l,ln)
K. n x
V 1 1 14 II A
I7Mi I7M
... Ill
... ill Mi
.MINIXtt .STOfKS
Alaska Standard 31
Atlanta 1
Big Ludge 1 V4
iiisnee copper (a iirosp)
IS
31
IBH,
IS1
II
OOTf,
SM.S
Hl'4
OS
1791
IS'H
I)
OHUs
10
01
11
H
10Mi
S'H
si'K
S'H
"r
1U4
RAILROADS
RncU Inland com ,,..,, so
do A pfd 88
do li pfd Vi
West Pne w I r Vi
do pfd lovs
Wahash-Plttsbitrgli .... 33
do pfd siM,
S8V4
88 i
73 V4
31
53
38
S3V4
STAN1IAUH OIL hTOriJS .
S8M
88V
Advance in Crude Oil
Pennsylvania Crude oil has Just
advanced another 10c a barrel, mak
ing a total rise of 30c In three weeks.
Every advance of 10c per barret
meant an
Increase in Net Earnings
of $22,000 per annum, or an ad-
ditional 3 on the outstanding
stock of
Barnett Oil & Gas Co.
This company has paid 23 in
cash dividends since April and U
earning nearly 80 011 Its stock.
The closest investigation la invited.
I predict another advance In oil
prices In the near future.
Peace can only mean increased
earnings for oil securities.
Let us tend you recent informa
tion, Circular B2,
E. H.'CLARKE
Morton R. Alexander
tneftKwnc t'jirinvr)
Tboas ljtll (Spruce
HBI1SB UU1E..
Zl wiuiaw PI.
Mwk Richaof
Newark. N. 4.
".. fa.
ork
DiaKCTOKY -IP Ar;yoyMTAST8
rrlfll I'utbo An'ououuti
j.AW.ti.i a brovvm & cc
.. .ii.iiii m UDNfict.ius
VJ wg inn
in- bt
..tf4UMi
Illinois 343 317
Ohio 383 S87
Prairie T'lpu , . . . , 330 sss
Stand oil of California 388 3U3
Stand Oil of N'ew Jersey. 1103 7011
Stand Oil of New Yoik .371 377
.181
ill) 11
378
Hutto Copper and Zinc.
Hullo N V
calumet & Jemme ....
' Vrro de Pasco
Consolidated Arliorut..
Knimu Consolidated ..
First Xat onal
Florence ( ioldlleld
Oiddlleld Cons
(loldfleld Merger
Oreen Monster
Heela Mining ,
Howe Sound
Independence Lead . . .
Jim Butler
Jumbo Intension
Rewauns
MeKiiiley-I mi rngh . , , .
Magma 1 'upper
Slines Co of America . ,
Nevada Wonder
NiplssliiK
Ray Hercules
Seui en 1 'upper
San Toy ,
Tnnuptih Ijxtcti.sion
West Klid Consolidated
White Oak
IIO.MIS
Cudahy Em pnai
Cerro de Pasco U us 1
t'osden oil Us im ,
, nsoen c i-u new (iM....to5
rreocn aiunieipal Us
SI id vale Steel Ss
Russian 0a.s
Russian Slgs
Slnela r Oil fis
T"dd Shipyard (is
Wi stein Pacific new 5..
I' S Rubber new Sn , . ,
.Ww Hrltlh r. iSB l.yuar
New Uritislt 5"js 2-je.ir
ll
Hi
3
S7
3
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30
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8
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sin sa
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8014 DO UU
11194 iiH 113
101 103
U09.', OIHj OH",
00M, 0S9-, uoii
09c oat4 ..
vj oaH ,
NEW YORK BOND SALES I
L "" I I tW , . , , W. . I, in f
H4,
on; tin
un1; lno
$10uo Adama Ktpreaa In...
tuill) Alner Asr r v 3a
3UUUU U'i dull .'
iIwmmi Anvlu-Kienvli Sa....'.
8.MIOU Am Foreign B.e 3, .
3IUUU Auuir Tel Ba
I81SW Amer lea ttiT
8HSI Amur Writ Pan in Sl'I
Ijiuju Arniuur i' 4s.... u
lauuu Atcblaun siu 4a .... uf
300U Allan Co Lln 1st 4a. OttW
utuKi Halt & otalu 3Vaa... . USM
3UiH) da fis leHj
l.'iiMin du 4 04S
Hiiiiii iia vv H, u UUS
luiHi lleth Wl.-rl rtd S... 1'ai'i
li 11 jo lirook Uup Tr Ss tlilM.lol
Iiiih) run Uuvt Sa 1UU1 100
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1U11111 iViit latber 1st Sa. .10815 103H 02V,
nuio ohm Copper 7. wu, Isoji Isj
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80011 Chl II III ... M Ml
31111U Chl II & U Neb la HI,, J8t
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now
89
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luui do ey t& luatj Josiii Ui
jiiiuhi Chi Mil i i S la .. . as, 83
:iu 11 1 rm a... 119 0
do l '
Uy ut'l'ttrla Ua .... HJ us'
:) K & I sn Sa . . . uiu ut
Sin Prod I 103 1... ttiS WJ!
uuouo cu
4UOO
ir.iuai
TiHlA Co!
8IIM10 Corn
8iuM) l)a It Itk Cr 4
ifcj rip aa
31MH1U
31100 lailuth & Ir I Unas Sa.lug
7U0U Erie prior 4a a7
inmi nt i.fu.p at. &m Hut
10UO llu4 Mu la Sa 35 J
8UUU do rfd Sa aili
1000 jloek Vul 4H 1.S
uum ill aural (an ma-...
3UU0 111 Caotral 4s IMS. .
I8O0O Inurb Slat 4Va
41!ifis iHUirb R T r.r Sa
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r.i.k.ae ClaM lttl 2m
simm Ui an i i ik
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1000 L.U & M T Sa ..."
311OO SI leli Cast d la
JiioO Mian It Bt I. 4a
uooo de Sa
uuou Mu K.ii & 1" ll 4a
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Kkooe uu rav u w 1
Sous MofiiaiM rswsr Sa. .
101
wtl
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OIK OtVi
iu ioa
67 ST
IU6 10M
SfiV SSU
8 UI
8 U3
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lillfi KUK
7S 72
si at
TbVi 78K
M so
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K bat. tiatt
1S 103
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DSfi t) D3
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7l 7 ff
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nasi d. .....
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7II1U1 1. j
HJfHUI X V N II .V II n iiiiaf
itt N ,v $&"' '
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3.-,iaai 1'ihim u.... .1 !l; ,vr. .
n,u .1 ....... '-''
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I3ih p8re lUraiintte Sa.'.' ul
niaai ll.udlu n,o la (MHl
Sisaai lUpub Cuba Si lM. fi Ui
lUial Up Ir ft S Sa.".::. ioi2
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3UUM rlcabuard A I. lull Sa.
lTittaj k, iv u
aiaaai J,, ,m i
3UUID Xuutk I'ac iv Sa.
r.iwii liuutb llwy voa Sa
4 MOO Teaa li tla
MOO Third Ave .)J Sa .
30110 Tuklo Sa ". . 1
IWOO Tol Si I, & w U
. Jomi irM" i' Ti si"
(Will IT s Huhber tla
3UW) IT M Mlv,l S ! r,,
"! Un'ea P 1 4a
2OU0O ila ev 4a . .
3wl do it 4a
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5IS? fT "7i
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us nit Si
101H 10114 OUi
JU3 losS I03S
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loo inn jw
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.1011 Ofi iiKtJ
. mi un; )S2
. (is mv ass
. ustf us as
? .ii :mw
!,T. mi; ..
A'ca; Torft I'ocfc Sales
Utah.
58
1791
OH
7 V
1814
111!
Acme Tea
Alliance Rum . .
Al Hold Minos. .
Alaska Juneau
Amis Chalmers .
Am Ac Uheni...
Am It (Sugar aiai
. "'o pref o1m
Am can 17
do Drer iiuiTf,
Amer Car & Fdy. 08
Am Hide & Lea pf 7H'a
Am LurciiiDllvc .. 70 tj
do pref luil?;,
Am Smelting .... 10.0
do pref It MlSfif,
Am Sugar lis
Am Steel Fdy ... ei?;,
Am Tel & Tel . . .IStVi
Am Woolen 47
Am Writ Pap pf . . I?
Am y.tnc ai)9i
Anapomtn, Copper. 8tf,
Asso oil ?i n
Atchison I03H
do pref. 00
At tllrm ft A Iii
At tluif & W 1....U0
Unldnln Jjtjeo. . .. SO If,
Halt and Ohio .... 8341
Ilelhlchem Steel . . 133
llnrns llnrn 0?t4
Rutte and Sup . . . I0V4
California Pet ... 2814
do pref SRJi,
Canadian Pacific. . 103
t'entral Leather . . 0091
Chandler Motor . . I03
Chus A Ohio fl!9i
CM & Si P 01
do pfd itivi
Cunt Ins Co B0V4
Cal Oas and Dec. l7Vb
CHI ItHI'Ic... 31 Hi
Chill Copper S3 14
Chino former. . . . SS
fol Fuel Iron. .. I7.4
Consul (Jits ISSI'i
corn Products. . . . 3 1 ,
tin pref Iil3"-i
Crucible Steel. . . . OS
Culm-Am Sugar. . ISA
Cub Cane Sugar. SI
tlo pref 01 ):
Diamond Match.. 130
rJt
I'toflf rhsl
S8 I
"Ii V
0
1 m
S814 t- 9A
Oiii I9i
!)Pii
DO'Si If,
10?!, If,
Inoti
08 y,
719 1ft
70 4- 14
lOOTi. -I 9ft
10891 10014 !- 9ft
a:,')!, a.i9ft 9ft
113 IIS
Ilfllft l)t, ( i
1339ft I3H4 t- 9i
SS
I79i
8 ?ft
7
2814
Bflt4
III
0!ft
1091
InOTft
08
7 Hi
70
lOrttft
licliiw nnd llud..sl
17
1014
38V4
839ft
71
1 11 .114
00
1191
117
Bfl9i
8391
111
03
1914
so
60 Vi
103
00 li
103
0111
801ft
lain
f,ni4
10 ,4
a Hi
SS14
AS
17 Vi
13.191
sail
10391
III 9ft
185
50'H
oi9ft
130
ISI
S3
St'
3391
17 li
I? I 1
3814 ift
Sales in Philadelphia
Nt
Mleli. f.rtw Cloaa chBe
II Alliance tn S9ft 309ft 309ft f Vfi
CO Acme T p t 07 f)7 B7 9ft
3.1 Am It pref 07 !4 0714 0714 9ft
SO 11 & K t 0. All 00 00
loo do pref. 58 .18 58 3
30 Cam Ron. IS IS IS
10 lnt ttwys. S71ft 37 If, 371ft lii
71.1 L sup fur sou, latfc sou -)- Vi
5 Leit ,xav. 8lTft SlTft 811ft '.-ft
18.7 Pennn R It 57 S09, 57
113 Phlla Klec. .11 3.1-H 31
1580 1 It T t c. ,11 Ji 339', SlU
lo Rn-ys den. ,1 ft ft
20 Rending ..103 1 0.1 ' 10.1
IAS Ton Itel.. 49-, 49,', t o-lfl
ft Ton Mm.. ono
lo Union Tr lotft ioft Ifllft
2non U S steel .11191 HHft 1 1 1 Ti
Id W J & Sen ,1014 ftO',-4 80V4
U
'A
Vi
1ft
9i
I irlggs Seal) .... A3
Distill Secur 38
Krle 33!;,
Oencrnl Kleo . ...loaw msiVfe
(Jen Motor new 1339ft IS'-
do pref new ... 1)3
lloodrlch Co Oii'ift
tlreat Nor Ore ctfs 309ft
fiulf States Steel. .I3i)
Ilartman Corp ... 78
Ilnmcstato Mln. . . 13114
Inspiration Cop .. 581ft
lnt Agr Corp pref 13
In llur Corp N .1.133
as
mi
331ft
I309i
77
13114
58
43
133
ISI
ISV4
I OS 14
IS
8()9ft
87
I 18
81
7Hi
1 0.1 14
1)0
IPJi
il9i
A09i
8S9
13.1
03 14
1014
S7 14
r.8!
10.1
oi)9ft
ItIS j-
oi9i
nni4
IS Hi
nflVi,
I0 V4 1
0IV4
S3 14
5.1
4 7 14
13394
31
11139!
OS
185
SI
III"
130
ISI
S3
S71ft
33 9i
10014
13314
03
Oil
3.11ft
1311
I 9ft
1 i n
I 9h
I 29ft
v,
' li
-I IS
' 91
I Vi
i Sift
14
h 91
t-
I- 1ft
1-7
I
I 8
I
1ft
I- V4
s
14
14
1-2
7 I
13H4 3 14
S8Vft Vft
13
31
111
Si 9ft
mi
mi (,4
33
18
do pref 131
lull Paper 18
do pref 1 113 14
lnt Nickel 13
let Mot- Mar. . .. SHVft
do pref I'd Vi
Kings Co I31ee. . . . ISiHj
tlo rights 3 S
Kenneoott Cupper. 1014 1011
Lackawanna Steel ho 8.1 U
Lehigh Valley ... 18!ft 781ft
Long Island 11', I a 14
Loose-IVIIes His.. 20 30
Louis & Nash 131 14 ISd'li
Mackay Co 80 83
Mux Motors SOTft 08',
do 1st pref .... 13'j, 7314
do 2d pref li) 10
Mck I VI 1 oleum ..IIIIMt 111314
Miami Copper ... 13 I1V4
SI St P & S S M..II8 118
Mo I'ac w i 3314 33 9i
do t c 10V4 "Hi
Mo Kan & Tex. . . OV4 a 1ft
Mont Power 10114 oil
tlo pref Ill III
Nut Iliscull pref. 133 133
Natl Knamel . .
Nat Lead
Nevada Con . . .
N V Air llrake
N Y 1 'entral . . .
N Y C Ac St L..
N Y N II & 11..
XOT4M
Norf & West . .
North American
owens tint Ma
Out Hllvor
Ohio Cities Has
Paulllc Mull . . .
Pere Manpiette v I 339ft
Peuna It R SOTft
Phila Co II
Pittsburgh CorI t 1; SI
do pref Ill
Pun Am Pet pf. . a79ft
Pitts ' c & st L 81
I'lttsbrgh Steel ir 103
Presed Steel Car.. 70 Vi
I'ullniau Co 10014
Quicksilver 3V4
llwy Steel Spring SI
Ray Cutis S7',ft
Reading 103 If, 10391
Republic I & S.. 809ft 709V
Shut Copper 379ft
Seau Air Line .
Sears Roebuck
SIosh Sheffield
.Southern Pacific
Southern llwy
Studebnker ....
do pref
Tvnn Cop & Chem I89i
Texas Cumpany ..233
t'nited Drugs. ... 7S
Bd pref oaift
Underwood Type. . lusVSt 10314
Cnlon Hag & P.. 1814 13
du pref 100
Cnlted lg Stores.10194
United Fruit 154
Union Paciltc ll)9ft
f S C 1 P & !'.. 23
U S t'ndl Alcohol. 130
U H Rubber 110 14
do 1st pfd Il09i
U H Smelters HI9i
33 "ft
. Ill
. 34 9i
.1311
.11)191
. 359ft
. 18
.130 Vft
. 7IV4
009ft
. 09ft
. III!
M'ft
123
ISI
4 7 14
1(13 V4
131ft
1 9ft
IMHi
121)14
10',
80
781ft
IIVi
20
1309',
81)
sa
73 Vi
in
10114
lllft
118
33 ',
Id 9ft
1ft
1089ft
III
33
III
319i
ISO
Il9i
359ft
18
12
S',ft
3',
J Tft
I 39ft
S 1ft
314
1ft
Tfllnl MlM. OOot nlnirfu, rpmiinrrd llli. 13,
8IIT ulurr ISl. snliihlno .II1I1 erk. 7.1.3.1!)
Iiureii lat Week, 1 1.1.1133 nlt.tre.
IIONlIt , Net
1 1 inn. t,uw. i'Iasc 1 hire.
$1(111 Am tins &
Blec 6s.. oV4 flfl,4 0014 li
Soon City 4
1912 r p., 1039ft I0.1H 1039ft 1ft
lOOo (In 1045 ,
c p lo.19ft 1039ft lo.U!ft Ift
10(11) Mlec & Pen
Tr 4s . . 8.19', 8391 R39J I 1ft
BIOOil lnt Rys Is 319i fll',4 ll91 li
3000 Ken True
& T Ss.. sl't
10000 Leh Val
cons 4 'is
L'mi.i ....10114 I (i I "ft to 1 Vi,
35(100 1, T ret P
K Is ... 87 87 87
70110 Phlla Co
eons 5s . tin an III) .....
100(1 Reading gn
Is 1109ft 009ft 009ft 1ft
8O11O tin Rwys I
c 4s .... 72M 72Vi 73 Vi li
, Tnlnl sitter, SI 18.100. tmiiimrod llli S.lt.OW)
lit SnliiriliUt thli el, S.1I7.2IHI l.it urek,
K1'4 8 !, -I I
9ft
3
TRANSIT CERTIFICATES MOST ACTIVE
BUT MOVE OVER A VERY NARROW RANGeI
Remainder of Local List Follows Same Course Tononahl
Mining Earnings Smaller Total of Foreign Loans
Large American Ice Securities Affairs "
Local Did and Asked
9i
li
f 'Ift
9ft
I9ft
t!4
r.
I9ft
1ft
1801ft 1301ft
TOlft
aaift
fllft
1121ft
S3,
329.
009ft
II
SO!-,
HI
a9i
81
I OHf,
"II
IO0V4
214
.11
301ft
14
aa-ift
09ft
II 3 V,
Sl'.ft
S09i
II
SO'ft
lit
009i
81
103
71)
10014
2 li
St
27
1031ft
80 li
37
l1 5Vi
1ft
',
Vi
",
V4
9i
1
t I
llrlll, .1 11
llutT Hiis'i t e
tin pref I c
Iinlrtwln
Ill"c sturiiire
Hen Asphalt
dn pref
Keystone Telephone.. .
'Ill t e
Lllkn Sup Cnrp. .
f.ehltrh Nnv.
hehlall n llwy. .......
LelilKh Ynlley Tr
do pref
retinayhntilii
Phlla lllwirlc
l'hlla t'11 . .
du .1 per rnt pref.
.'!',' Lwr l'unt W'f
f'hlln flap Tr t e. . . .
Ileiiiltnir
Timnpuh lt'linnnt . . .
Tonnpiih Mlnlnu ....
Itiliiii Triieilim
t'nli.'d tins Imp
I nil. ! Stales Hteel . . .
York Itnllway
do href
Win 1 'rump t c . . , . .
Tii'ln v
Hid. Aked.
.-Ill
III!
r.T
r.ii
111!
2S
IIS
13",
1.1V
Sufi
, -13
.IIP,
38 S
II
37
i
.ilf"
411'.
in;
11
37J.
Kn4
its
r.n
07
!tn
r,7
CO
28
(IS
ic, i3,
I44 13H
20 211
85 M'i
7s'4 78
23tn 22',
43'a 13
Silja SIIJ,
13 II
1(1 37,
42 4l'
"I 33
11)3',, 102,
4 li-lll I'v
il'l 0
17 UU,
till S'l
in1; in'!
1.1 ttv,
37'
S3 hll'4
Yesiprday
Itld. Asked.
2.1 33
lis
SS
.17 '4
(17
3d
7(1
14',
II',
2"'i
M,
711
22Ji
l.lti
50V
33'a
12
III
33 i
lll.'l
1 a-to
an
iii,
no
11 i'v
1.1
.'iiS
83
While Philadelphia Rapid Transit trust
ccttlflcalea continued lo hold the most
prominent position In the matter nf activity
It) the trading on the Philadelphia Stock
Kxcltange. the movement of the prico was
over a very narrow range. After opening
nt a f factional loss on the sale of 200, the
prleo got nbove the final of yesterday for
a small gain, but this advance was not held
lo tho close. United Stales Steel common
was the most active nnd It. too, moved In
n narrow course. Lake Superior Corpora
tion hung around the final figure of yes
trrilay. lit Philadelphia Rlectrie there wns
a Rmall gain. In the bund division Inter
state Railways' 4 per tent bonds were quite
active, but sold nt a small loss. On tho
other hand. Land Title receipts for Phila
delphia Uldcttlc I per cent bonds advanced
.1 points. Late 111 the session Utiffalo nnd
Susquehanna preferred came out ut an ad
vance of 3 points.
1 nrnlngs of tho Tonopab Mining Com
pany, of Nevada, and the Desert Power and
Mill Company in the quarter ending Novem
ber 30, 1910, were not nit largo as In the
corresponding period of tho previous year.
The gross value of the ore milled Hi tho
period ending November 30, 1010, was
$1.10,710, compared with $102,037, and the
net was $17l).llC. against' $201,017. Mis
cellaneous Incomo showed an Increase, being
$112,455, against $123,210, which tCMilted
III bringing the net income for the quarter
up to $321,fi7l. as compared with $1-2I,2R$.
Surplus was $30S,I.1I, agalnit $31..,7lD.
In connection with the Hunting of tlin
new $!SO,000,ooo United Kingdom Irnn. It
Is Interesting to recall the amount of mulicy
that has been placed at the dl.rw.ai .
foreign governments by Investors . ,.'
United Rfates since the beB.BnIPB ", '
Ltiropcan war. While ti,, ,,.,,," M
principally Kngland. have been ,. ,, nt
oorrowers. yet many neutral couniu. J"" 1
come to Hie United .,.,-. ,...n,rl. hv j
tnlnl, including the new l'n'N , ' ?1
Inn 11. leaches the stupendous ni Rllm H
$2.2!)1,3BO,000. "Pentmus flirure et 9
Stockholders of t,P Amerlrin t, 1
ties Company, moetlng' '7n ! r. '
!. . ,nP """' "' th0 direct -ra to ..a"
the Ja.nnn nnn .1.1. . .'. " ln redim
on Atirll 1 Vwbeo , .':u" . '" 9."' torn
will then be distributed t, ,h. s?oc3a!"'5
They will then be tnck hold "ft
American Ice Company. i,id ne it. ,h !
cent oneumulativcS.referrVd Sock Sm RM
enmmon stoclt of the A mer'ean lr? ?. ' a
pat.y. The preferred stock or?." '.r' C.a .1
ce Cotnpany now ouistandlnc n'iL?"
Is cumulative, Is to b
'."i1'"?:. MMeS;
XKW YORK RANK STATKMKNT
liicrc.tscs iii Actual anil Avurago Loans,
Deposits nnd Surplus
NHW YORIC. Jan. 20. The Indication
of tlie movement of money for the lust
week, figures for which were Issued yester
day, that the banks would Issue n strong
statement today was borne out. There was
a tremendous Increase In nvcrago net de
mand deposits, ranging above $107,000.0(10.
Loans and surplus also gained. Details
follow:
AVrtltAOB
, . . . fnereiisp.
I.01111H i:l 1"t its 0011 en., -,. ......
.el ileir.utHl deposits.. 3.S8I.2IIS ISMI lllT.Tlii lam
llt3.S4II.IIIHI 2.2IMI.IIIHI
38. 703. mill .1311.11110
Net lime ilf.iin.llH. .
Olrelllatlon
Tllesere own 11lula.- .110.387,111111
It...rve Kederill lie-
serve Ilnnka llll.3lil.uoil
ItemTVe fithel' di'tiosl-
terles Sil.L'H.l.nnii
AKKTcil.lt ' reserve. . . . 7III1.PHII.IIIIII
lt.'Sere reiiulrml lltll.llOll.llllll
Surplus 1H1.IIII2.3II)
ttif which $173,1111.(1011 la specie.
Acri'Ai,
I.OUIIH
31.8.17.000
n.SI).l.ll(ll)
1, mi. iiim
13,11113.11110
18.721. hllll
21.311,2011
S3. 1 11,122.11111) .lS,3!l.l.llll(l
. 17
sacn
118
'.'79i
. 3IV4
. I UU
. I"8
319', 23.19',
08
079ft
Ul',4
1089',
03
a79ft
3114
11181ft
1089ft HI89ft
IS9i IS9i
8.101)',
75
110 li
IDS
101
153
411ft 14I9i
33 33
1ft
319ft 9ft
7S I
001ft
10.114 1ft
13
100 -t-l
1019a 9ft
151 3
1ft
4 16
l! H Steel
do pfd ISHft
I'tah Coplier .... luiTft
Utuh Sec 3114
Va Cur chm 13
Va Coal Ir & colte SO
Wabosh 1S14
do pref A 659ft
Oo prer 11 . .
Wells Fargo , . .
Weatingh 151cc
West Maryland
White Motor ..
Willys-Overland
do pref
Woolworth
Wilson Co
1339ft 13094
0094 009ft -t
Il09i 1109',
tills 01 Vi
14
.11114 11314 IH9i 4
V
131
10094
2314
13
6S94
13
81 li
09i 2014
.10314 10516
. S3 14 5314
. S? SI
. Bl 31
3014 SII16
. 08 US
1109', 117
Oil VJf'i
131
107 li I 14
mii i i9i
13 1ft
SI! 1
IS'4
3414 I
2014 14
1051ft 94
S3 IS -I li
SI li
31
301ft 9ft
08 Vi
111)14 1
0114 Tft
Total ..ales. 303.800 khan's, roinpured nlll)
Sll.au .hurra Ijtkt Hatyrdoi thl. wrrk. 3,"
3B(l,i"0 ahurrtl l.t irrrk, S.ai3,eou hlmre-.
LOCAL ailNINq STOCKS
TUNOl'AU STOCU8
.. . !'i'' ASKSll
aiHinuiinia til
Midway . ,,,,,,,,.... .20
Mtapab tixuualun ,.,., 14
Muiilunu 211
Nortbarn Star IT
Uuacuu Bala Jo
aouiriBUj sTuuiif?
fe n.u.".. ::::::::::::::;:;;;;;: M
RA&?rf.,,au. :::::::::;: f
iy aj
Uru .0
SamlDterm. Kendall ui
Silver 1'tik 21
lllSCK'.UlNEtJU.S
Ariaona. Unltad Bfl ,K
N'evad4 H.il si) 3
Ml.lKl.lllil
2. ,103. ins)
118.111111
30. .1.13. (Kill
111 1. 878.11(10 3.277.(1(111
2.121, III Id
3.1.31)7, mill
14.11112.111111
2I.U3I.IIIII
HANKS
-.. . . Increitue
$410.4(17.21111 '11.274 8(111
411 Hi) 3ISI S.8I7.1IKI
2(1.318,01111 81.8fll.3IHI
S7S 3I.1.2IHI Ifl.S Sllll
121,003.7181 7.811,011(1
Net deniioill delsiHlta.. 3..1I13.81II.IMII)
.N.l time depuslta Hl4.0ini.uuii
' '! nullum 38.11.13,111111
ilieservu own vaults.. 1011.13.1.011(1
lie., rve I'ftierill UP-
serve Hunks
ltt'Herve other denotii-
torles ., Sll. 731. Mini
AaarcRute reserve. . . . 81S.0ll.IMIU
lies, rve rcoulr.il (11 .-,..17 1. 870
Surplus 2(12,472.0311
H If which llltl.(H13.lllll Is si, ele.
lie. rellHe.
lltlTHIIII
Slat.. l..nik
Lniina and Investments
Hold
currency, hupknolia ..
Iieposlta
Ileserve Dfl ttelMlHlt..
l',.rc'.-ntiiiri. of r. Herve.
20.0 p. f. , ilccr.'iili,'.
t.4 , e
Trust companies
l.uaiia and Inveaimenta I,07t,II8.iiNi
Hold 15.1. 8(t.l,
I'urrrncN, bunknutHS. 21 ..1.111.8111)
Deposits 2.1 It), IUI. Mill
Iteserve oil depoall... I ll,3jll,2ll(
I'ercentilKH of r. serve.
20.U p. e.i decrease.
II P. e.
Htnte luinlta nml
Iruat roinnanlea not
report Oik to Clour-
imr llouai
Lnuiia and Investments
Cold
cnrreiic. Iiiinknutea. .
T llftl d.'IHISllM
N"t ilcpoHits
It. MTle oil depiiSll . . .
I'eri'entitue of rcwere...
31 2 p. e.i Increase,
2 II p. c.
D, ereusc.
CLKARLNfiS CONTINUE LAIMJK .
Total Throughout Country Much Ahead
of a Year Ago
Hank clearings throughout the country
for the week ended todny were much
gi eater than for the corresimndlng week of
lust your, but wuro slightly below those
for last week. The total this week was
$ii.JOO,7:U!,470, against $S,fr,2,0t)5,276 last
week, and $1,513,817,811 the same week
of lust year.
Details follow;
1017. Ituo. p.c.
New Yoraj...l?.uniij3.(SHi I3.338.fi30.ii.12
i nicflm . . .
Philadelphia
iioaton ....
St. ImuU . .
IvUt.VIlK l'l(V
ti l'r..nlu..o 77
Pltuduirub S7.us2,l2T
nttruit .... -oi.si.i uui
IbittlnTure .. 3.1.70.1 4 mi
Iftw Orleana as.n33.4ll
ISIaven cities.
0 ua.. .
Other eltlas
COTTON OFF SHARPLY
AFTER STEADY START
Buying Lacking After Eurly Dc-
niand Is Satisfied Rallies
Follow
ttiTitiN iiiii.t vi;atiii:i: ttiMiiTitixs
Ni:V VllltK. .t.i n. 20. ltuln us re
ported In the lentral p.irt of the i-iittnii belt
till- ninriiliiK
The follov. tni; trtnperiltlireH were re
tarded: flkl.iliiini.i. 32i KiiiimIIIc 3li Chut
tilllini(r,l. Slit Nii-hllltc. .Ilrtllliliis mid l.lltle
Itnrk. 38t Itiil.-lcli. 10: .Itliuilu. IS: lllr
inliiRhaiu and Drl ltlu. Ill .Miitiiti, Alillrni'.
WllinbilMnii nnd s.iuiinmli. Ill: .HiiiilKam
er.i , t'liiirle-tiin mid AtiRtit.i, IHi Virk
huri;. Cnrpie. ChrUti. .sun Aiitonlu mid
1 liiniiiillli'. oiit Mireirpnrt. i.mreHiioi mm
Meridian. .1.': .Miihile mid .Imk'oiut llle, .111
I'miipil. Sill I'l'lisiHidil. ,181 New Orteilli., (ID.
There ius .ill inrli of preclliltiitbin ut
.1I.miii.IiIh, .III lii'h ut Vlil.slniri:. McrliHlii.
IlirinlTmliiim, Cli:ittmi.Kit;ii nnd liiiuMiltr.
.08 Inrli ut Nii-lnllle, .11) bull at .Muut
kniner.i. N'BIV YORK. Jan. 20. It was cleat ly
demonstrated In the early dealings In cot
ton today that there was no short Interest
In the staple. The opening of the mnrkct
was fairly steady, with prices 2 points
higher to 0 points lower but It was noted
that the selling was quite general, while
the demand wns scatteted and for small
lots. Commission houses led in the supply
on the call.
After the early demand had been satis
fied there was no buying of any kind, nnd
trnnractions were only made possible at
sharp concessions. Stop-loss orders wtre
cncounteied on the way down and this
added to the general supply, which brought
prices at the end of the first ton minutes
to a level 19 to 5.1 points below the Initial
quotations. Declines of 15 to 18 points
were recorded between sliles, and stop-loss
limits were passed without a chance to
executa nt the levels given.
Later the mnrkel rallied on purchases,
induced by whut many believed to be a
cheap price. It was significant Hint bullish
newu wa.s Ignored, (leneral talk of a luck
of uufllclent winter precipitation in tho
Southwest was passed oft with return ka
that there was plenty of than to make up
the deficiency.
Temperatures In the South wero slightly
ubovu notmal. Rains were again reported
from tho central districts.
Tho tCLvlpts at the ports for tho day
were estimated 'at IS.OOii bales, compared
with 17,003 bales last week and 17.S33
bales Inst ear.
be rnfle.,...n.t . .'..s ,
new cumulative lu i ,..i . . "" the ,
will dispense, with be L, r.f,fc.re ,S
On Mnndn v ih A.. "."" rmpany. I!
hold a meeting jR.' ,.',,' '""I"1" IB
Laslcr money In this i itv ,..i,ii
in the reduction of t P "'"'nruu"
to a 4 per cent from 4 per ,. ,", ??""
fleet on in the weekly s!af,mea r IXIIW'
of the Federal Reserve Hank of m ,V"J0'
'"""UUI 111 I UIH f unr.xna.... .,. " Ml.
anil the bills bought u, n . T.n,Pm? '
i. ..,Bl
" lo 3t).50I. ;
is wee, kiu
r.n ... n .- . "-
-" u ;.,,53,I9,
The first Item fell off $371
an compared with the previ.
..." iiuitr oecnneil J, 517
WHEAT CONTINUES
EASY ON SELLING
Bears Are Favored by Lack of '
"umaiiti lor export Bulls
Express Confidence
(1IIAIN ItKl.T M'lIATIIiai ioviT,
::?aSaffaF5K
forts
north. ,.. ,;'::. i,.,.,im"" "'"w In
w.r
priilml.!.,- rain or
r .Suniliiri ri
llblllt IIT.ll s,..,,l ..
.Missouri t'lis'rltfrd,
mioiv Sutiirilu, nleht
Sutiird.iy nlt.'ii.
II l-riins 11 t'nsfl(t,t. ...1.1-- t......,.
no;; Id. Hti.,H Hurries e i.l 1, V;T., "'"""".
nrrallj
turdari
2.SI1M.211U
a,7Slii 81111
4. I38. Koo
07.70.1.111(1
su.oa-.ouo
74.1. iitn.8110 lti.ina.iino
03.3113 50(1 013.21)0
111.127 Kim I8l,7ii(
tills.2ll.3ISI 12.ist.ll0U
MI2,2lil HIMI 4.iai(.ll(Bi
231.3S0.TIHI 1 7.207.11(10
41)1. ,111.28.1
'po. a
'HI 1
tt'.'.a.-.l.ius
liitTiia.482
.6.1.8.. 7
J. .. 1 J
.1tlS.TS0.1lS 4-32.ll
18J.3I I (LIS -f 58.4
18S.V-'H.II I K.4
Hk.iIS.T0it -f "T.I
T2.SIIT DCS M.II
47..1W1.307 11.10
4tl.llTl.232 4-10.(1
33.23l.liSS 4S.2
31.43(1.1105 3.11
2I.3T2.22I 4-13.8
S da&B.. 4. 338.321. 350 53.320,313, 131 4-30.7
:her eltits
3 d4s . 50S.70S.010 470.100.118 30.T
Junuiio . . . .
.Maren
May
July
October
I i"cember . . .
Sput
Close yes. I )p.n
17..IS 17.11
17.2
17.1..
17. 1.1
111. Ill
IS ,11
17.3.1
17.1111
17.4H
17 ID
111.20
HI IS
Illuh
17.1 1
17.30
17.511
17. ID
iu.au
111.18
Low
III 7.1
111 ill
10 IHI
HI 113
1.1 III I
11.1)11
ClOM,
111.73
lll.lls
17.12
17.11
10.112
1.1 III
10.1)11
CAR SHORTAGE PUTS
DEMAND FOR STEEL
Market Is Somewhat Quieter, as
Exporters Cannot Make Ship
ments to Seaboards
do aws mm . ... 1,71? Sf KtI
g 1021 ... . mi aiiv ai
Wah-l' T Ut it r u 4s nZ :ui3i S32
WVt Bl trie &," :"l0394 1(121? 103U
'a'al
Z.UHO lMt Nulur.
la. I uivk. 30.(a.t8i.
412.1
halo. 2. TOO (MUI
at 8ujuj.,ijyI ,1,1, B(w,t jj3U
ceninarwl ulth $3..
IOS.imm);
NEW YORK UUri'ER AND EGGS
unset
Xtr
DIVIDENDS DECLARED
1 to
3J4r!aiid L'al Company of West
VlniiBla.
stock o(
3T78 tuba. Market at.-ady on lop aratlta? No
. haiiae o quolatluna. v
K(XJ H.'c. li,ia 4J-7 caaea Sl.rk. t
lied 00 u!l 1.14I k I'xtrj. 4tfi4.li
ZTT.LJu'IXKk .' .' ...".Tl'.'-'.Mrt:. "l8 I uimua uita tha nuirlut for iiut trnn
v-vww, ...m., wu MSV... V.WW.
1 ir cant, payable
ruw.r.1 January u.
American Soda Fountain Company, regular
quarterly of 1"4 par nt. payable February IS
to slock of record l-Vhruary 1.
American Itallwa I iiaunny. rasular quarterly
of 18 Par c.nt on the prafarrad atock, Wyai,le
February IS aa reslaterrd January 31. Books
ijUi P4)t ilea.
Embargoes Retard I'ig Iron Shipments
PITTSBURGH. Jan. 20 Although Con
kumara are specifying to the fullest extent
on tUalr contracts, pig lror b piling up
in the yard of blaat furnaces, us the re
sult of the slow moving of freight. Some
lurnace.s virtually ore soul orc py ino rail
' aumar Into tba market (or spot Iron.
Total all clt" . , . ,
tea o uayM.e,,iio..oo.,u. ,y. teu.uia.epv -eoii.a
HGO.U0.STI 733.207.013 23 0
All cities. 1
uay
iVs. l'da"fis.l)UO.7S3.470 il.81S.OI7.bll 20.0
FOREIGN EXCHANGE
NHW YORK. Jan. 20 The market for
foreign exchange wus unsettled today, al
though the volume of dealings was ex
tremely moderate. In most cases. Including
sterling and francs, which, up to tho
present proved superior to the declines In
the other exchanges, there was a slight
shading from yesterday's final rates Rubles
improved fractionally, while lire und Vienna
wero at the low record. A firm fealur wae
found lu Swiss francs, but Stockholm wn
slightly under the best of yesterday's ad
vance. Quotations follow:
Pemand sterling 4.75.S5. cables 4 86.J5;
sixty-day bills nominally 4.7Ste, ninety-day
bills 4.70V-.
Franc cables 5.8314, checks 5.8494.
Helehwiiark cable 67 B-1C. chacks 6714.
Lire cables 7.01U, checks 7.02.
Swiss cable S, checks S.01.
Vienna cables 10.85. checks 10.80.
.Stockholm kroner 29.50, checks 23.35.
Pesetas cables 21.35. cheeks 21.20.
Uuildar cables 10, checks 10 13-16.
Ruble cables 29.95. checks 29.90.
BANK CLEARINGS
Hank cLearlOJU today Cam Dared with ras-s-...
DoadloK Uay Ufttyrv year "
tin iuia
l'hlla
Huston
Now York
11115
12.1 (to-, ill
sit aa cay db
52.3S2,i73 4fte.tW4J.3lT SlS.TSOaSI
XIIW YORK. Jan. 20. Conditions In the
steel market have been somewhat quieter
during the la t week, although specifica
tion:! nguinst c .ntraetn c.iiitlnue good and
some of the buyers urn Ins.sting on deliv
eries ut specified. The muln contributing
fact rs to the change have been a rmnller
export demand and the railroad situation In
some Lections of thin country.
Reports received In the trade from steel
centers tell of the dllllcultv of getting cars
und the embargo situation, If anything. Is
tiecomtng worse. This especially true of
tho Pittsburgh district, while the railroads
generally are refusing to transport products
to seaboards duo to the lack of steamship
space, which is tying up the cars and put
ting the catrlers In a worss iiosit.nu than
they were
on some products, however, tito export
demand shows little or no change from
the activity of recent weeks. This Is notable
in Meet rails and tho inquiries which lira
belnV received by tha car manufacturers
who have been requesting quotations on
the steel so that ''tey cm figure on the
orders. Deliveries, of course, nro causing
more concern to the car builders than the
pr.ee of the steol.
Plates nro again wanted by shipyards all
over tho world, tho latest repnrteU addi
tions to the ranks of tne prospective buyers
being Chinese and Jaiiar.e.ie ynrd.i. other
countries contlnuo In the market and yards
In this country also are sounding the mar
ket for what deliveries can be obtained on
orders to bo placed now.
Structural bteel Inqulrle:, are coming In,
but the fact that the makers are hooked so
far ahead is believed to have caused tho
withdrawal of many plans which were being
made for oinstruct'oii work Uutltlers are
lllrnie.,,,, ,,' Xorih III r fier,
fair saliiril.iv und prutiuhly '.,.iay
Innii IMrllv rlouily mid tnliler Situ
SuiuLiy. unsettled, hisI, mii.h.
i UK At.o. Jan. 2n-i.-iirt.hcr selling 0
wheal kept the tone of the market easy
mis morning, i.ack r demnnd for export
favored the hears.- and mt. de support
continued unsont. Hulls, nevertheless, as-
scrtotl that underlying ennd tlons were ai
strong as ever. Then- ;i.i not much news.
May opened at fl.ST'.. to $t.R0. against
SI. 38 at the end yestcrda. and. nfter selling
down to M.SG-7L rallied to Ji 87 ,fur
Miincti at si.bij,$..-,ib, ciinpared with
$1.52?; at tho close yes:crda. and receded
to Sl.r.I. September wns - lower at tha
outset, at ll.HS,, and dee. me 1 t 1.34.14.
llenollcial rains were reported in India,
where, generally, the ct op outlook Is ex-
cellent. and the weather in Au-tralla was
better. Tho yield of ii,:,t ountry 3 ni.
mated at 120.OU0.OO0 bushels to UOOOOOtU'
bushels.
Adycea from Argentina noted ilifT cultlcs
In flllliiK contracts, owing t , nniaginlsm be
IlrTs" "" Te,,to"k' a" L'nt.-nte Allied
The receipts at .Minneapolis und Uuluth
today wero 328 cars, against 449 cars last
year; at Winnipeg, 41 cars, c-minared with
,'.i,."'".!o ut ,-hlcB. 580 cars, contrasted
with 32s cars.
Cirti and oats also lost more ground. Hot
weather continued lu Argencna. where corn
Is going backward .lady, nats at Liverpool
were strong. Itecoipts of cm here today
were 301 cars and of oats 113 c.trs
l.emllna futures ranged 11
open. illii.
1.87W 1.ST',
1.31 I.SP.
l.aiK l.ss
urn inew delivery)
May 1.U114 l.t'l'.
we w Ti.l 'li
M'heut
.May
July
M.Hvniber
J u,..-
1 mts
Slay ....
Juiy . . , .
i.r.l
January
AIMS ....
July
Klbs
Jit iiuary
Stay ....
.May
July ....
Hid. t Asked.
II., us
Yesterday's
. j. Close clou.
J s., silia l.sj
1 SI 1 .11', 1.JJIJ
1 II tl 311a t 33
1 "in", 1 IKH, tl.1110
lis'.
0II
. . S81a
..10.1111
..111.32
..111.47
,1.1.17
. . 1.1.37
..".i 33ti m
10.03
111.3.1
111 iid n:
HI. .lei mi;
I.1..17 13. IT ti;
.20.-111
.Nominal.
1IIJ7
KM
is :s
.13 tij.00
::ki .17 30.TO
2H 32 311.43
21113
Financial Briefs
The gro.-.s uiLMine of Hie Merchants'
l.'nii.n Tiust Company v r the year ended
Oecomber .:t was Sico.oto, and the net
tu 802. Tnere was paid $l"'."0 in dlvl
dctid.i; $20,0011 was added to unllvlded
profits, and ain.ssi! was . r.Hlited to the
profit ami loss account. Luring the year
tho trust department's carnmiss Increased
(GSil.
(irosa earnings of the Brooklyn Rapid
Transit Company for the hi months ended
December 31 wero $14,S8n.09. an lncreaj.-i
of $832,225 over tho corre. ponding period
of lust year. Net dropped 8 139.008, t
$5,337,110.
The total coal shipment over the line
of Hie Norfolk and Western liauway is
Pecember was 2,468,593 tons.
Ranks gained from the New York Sub-
treasury JS50.000 yesterday
Half Million Uond Issue Authorized
RICHMOND. Va.. Jan. 2u Stockholder!
of the Southern Railway have approved ,
the new irenernl marttrairo ulan nrovldtnS
for an Issue of bonds limited to 500,000.-,;
000. Tho liLin wns i.ronosed ut the generil
meeting of the stockholders, was referred!
to the diroctora and tlie board's report vraJ
ratified.
More Gold for .Spain
NL'W YORK. Jan. 2u. -Lawienca Tarn-.
not anxious to take on new work, as It is ure & Co- sl"i'Id Uoo.uoo gold coin t
.Hot...... ir. ...ju....n .,.. ,.. .. la Ml.fil,, Inline
dilllcult to assure deliveries on the steel.
,i is suaieu mat. epeoincatlons against
orders for bars and shapes are being re
ceived In large quantities by the manufac
turers, but that no paitlculariy new d
mand has developed recently and tha
actual market might be said to be more
quiet than In several weeks.
Spain today.
'.MONEY-LENDING RATES
I'lllLAllllI PIHA 041. 31fe per cent
Time. 3H4HW percent Cimmercial paner'
three to six. months, 3',fefe4i,4 ptr cent.
English Currency Decreases
LONDON, Jan. 20 The Bank of Ung.
land reports the amount of currency net
outstanding as 1131,200.396. agalnat 131
S25.26I In the previous week The amount
of gold held for the redemption of auch
notes remains at f28.50O.M0
BAR SILVER
a) I?" 'SSL &
Yji . ... . r-
i,l.u, iuuio.1.: St s3fe ".!- "Jn
Nw York toioli) T4 1i T414 Tfl
191
ia
aiw
Tali
CAPITAL WANTED
HPS1NKSS MAS WITH CAP
ITAL WII.I. HI! tilVllN I
INTKKKST 1 JIANUt'AfTlJllEnS
IKIIMi A lVOMIKIirt I. MUSI
NKSS , tiltKAT llTt Ie
(J 334, l.i:il(ii:lt OFFItK
Charles J. Bender & Co.
INVESTMENT BONDS
lumbers Ph'.Isdelphls Stock Ex
NORTH AMERICAN BLtiG- j
niviiiKNiis
i-8i532 J?i7n4
as.itw.tae as. eat 1
Granulated Sugar Unchanged
NEW YORK Jan. 20 Fine granulated
sugar waa unchanged. at $.T6c. TU li
sale In spot Cuba raws was at 5 jtc
TflVTIFAI. TBTIUT X- MIVIN'CH rOMPA'X
--"' - .T.-':-. T. "'"Z'-.T-- 1 a 1B1I.
t-oiiaaeipoia. '"!' 'ILuS 1
Hoard of Directors this day .lJt3 -,
Th
Quarterly dlvldnd i
00 tbe capital Ktock,
Ui EiociUioitVrB ot rwortl jw..ri ,-7a"iy
ll lk ..en. Ol .. t8II lllll U SlltltH V
Surplus, maklns that fund Juo 000.
Clicks will kw UialUd for th i''nif.ut.
nd of eoe and on bali ,!??
itock, payable rebroarr '!!"'
.? rord Jw-j.ry r"-.""..
HI-
iliiiiESf