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EVENING LEDGER- PHILADELPHIA, WEDNESDAY, JANUARY 24 1917
15
BEARS MEET WIto LITTLE SUCCESS
IN TRYING TO FORCE PRICES DOWN
-Stocks Hard to Buy or Borrow, Shorts Being Compelled
to Pay a Premium to Get New Haven Big
Interest in Steel Common
High Points in Today's Financial NctVs '
Hairs made fcchlr efforts to force prices lower hi Wnll street. si,ni. i
paid premium on New llnvcn ,n the loin, crowd. Trading was aelivo o
new i " ""'j:: ." '"
..,,...... ,,,.,., ,,uIJVi, rncc of bar silvcp iiiMiriiinrr'.
Norfolk a4 Western t'eclnred "t'other extra dividend of SI share in
submit led modified transit plans to Mayor Smith, mfrceimi to tru mil free
transfers atl over the city for a period of sir months.
WV VollK.Jnn, 21.
The mass of speculative element commuted to the uenr side imttte feeble
rffotls today to fence prices lo tower levels. Inn it had already been itemottttrtucd
that stork in i' now Imtil to either borrow op tw.v nnd tins mldlllmml sales for
short nrcoiint, which eunslttiUctl tlto supply nt declines during tho forenoon, were
- much smaller l volume tlinn nt nny preceding time Tor mote tit nn n toccU.
More ii. trillion wan pnlil to imnsncUoiit In the loan proud (linn to those
bear efforts In offering stocks. New llnvcn. which hns heeu In urgent ileinntul
for delivery for some time, wmh defaulted yesterday on selllnR lontrncls nnd this
morning a potmluin wits hid for the use of several thousand almres. Itroohlyn
Hapld TianMt was nlso In urseni demnnd nnd some of the recent sellers tried to
borrow II lint, that K without nny Interest charge to the lender, hut this stock
TMIS alio hntd in ohlnln.
tn in.llcHlloin were stroiis that virtually nil thr- snR f ttronUiyn Itnpld
Transit ami New Haven, which lunr- been made In the Inst few dnB, have been
ft,r ..iii ncrouni. lleportH of ilMdend uncettnlntv on Urooklyn Itnpld Transit
. cn dlpeiled l lh" positive statement of President Williams thnl the rntp will
ba maintained for 111 long n tunc ns lit' run see in iho futuie. The stock, nfter
nrlllim m ' ,"lp llln" iccoveieii uh hiss nun showed n net unlit In the lute
'ttadlns
Tin "hull inteiest in Limed States Htool 'iiuimii hat icnched oxeesslxe propor
tions Tli.il siiick. nurr iiei-iiniiiK inmi n.t i" ni, casuv rose to IIS-1! ugnlll. I .mm
island w-is the center of nt miction to it special Ri-niip of traders, who houghl II on
an tuhnn-c finin I2', lo 4TH.
BETHLEHEM'S NEW STOCK IS LEADER
IN ACTIVE NEW YORK CURB MARKET
.NKW YUllK. .Inn. 21.
Theie wax an active timlins iniirUet on the lliuntl .Stteet t'uib all thintigh
the dn with speculation showing a i?ood deal more lgnr than II bus done for
...... Ifl.lilol,,,,., St(.,1 tin.. Ulrt.,1. .( tl.n hliiu. .,,,... I,. nt. f fun,,,,,, .,lt.
It B0I11P UIIU IJVl.t.C,,... ,'.V. ,n ,, .-..,.-., ,,,, ' ...V I, .,,.!. IHUIIIIIIVIU t...l..', ,l.l.
i .. ... ... . ..I . ... ...i ... Ilnf. fii. ..it.. .....1...I ... ... ,,., ...
transactions 111 iiuk-' MIIUHIV Ml i, Hi IO. I Of IIIU. WPM IIHU'MI 111 III f 111
3UH. hut iiothlns ns said about the bonds which me In be nutliorlxod ul the
epfclnl stockholdeis' iiu'pIJiib.
Miiiiv o" Hie oil stocks siiuuimi ii Niioiiftpr lone, with Usane (.ellliiK nt si
grid 0'4. and nklahomn I'lodurois was traded In at CI to I3ij. Mprrltl sold nt
17 to 16'j Weakness developed In Metropolitan I'clruleimi. necoinpuuled b
rccciverslilp runiois, on which that stock fell from It to 2i4. Sinclair Oil sold nt
f62 to Gl's.
IMIl STItlAI.S IMIIII'DMIIiN'l
Vff. tloe.
Itlrt Alll tS.ill
Si4
New York Stock Sales j
Acme Tea
Advance Hum
AJax Hubtitr
Alaska Hold Mlnei
llllh
37'4
nt
oi
3t
Aetna Kxplosucs . .
K .Am-Brili'h MfR
3 Am Marconi
fv'Amcncau nnims ,m.
C-Bethlehem Steel new .
Bethlehem Steel rights.
Can far Fdv
Can I'nr & I''d pref...
rarwen Steel
. Charcoal Iron
(.'hewolri alotots
Cramp ShipbullrllnR . .
r Curtl" Aeroplane
Kmerson I'honoRrapn .
Kedcral Hj est tiff . . -Haikell
& Barker Car.
Ri Ilendee Mik
Kathodlon Bronze pier,
baurcl Oil & Gas . , . ..
I.lnia Locomotive new .
Maxim Munitions
Mldvale Steel
New York Shipbuilding
Otis Klevator
Teerlcsn Motors 17
Poole KtiR "
Scrlpps-Booth
H 3 Kresge w l . .
Santa Cecilia . .
Santa Cecilia pref .
Standard Motors
. St Joseph Lead I 'i
Steel Alloys
Submarine . 51
Transue Williams 4!i
Triangle Film :i
Todd Shipyards S
United Sugar 3.1
United Alloy Steel SI
U S Steamship 5,4
United Motors 4 4 Hi
World Film Ti.
Wright-Martin Aircraft. I3V4
Zinc Concentrating 4
I
Ul
an
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an
Vi
7
in
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ift
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sn
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153
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411
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47
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131
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27 W
18
1 Vi
4i
'4
35 A
m;
45T
I
134
4',A
III. si'UCKO
Vp
lll.l Akr.l
Bamett Oil Cas
I'osdcn oil d (las
'oden C- Co ....
Federal (.HI
Inter Petiol
Houston Oil
Merrltt Oil . . . .
Oklahoma Prod
Osage Hominy
Royal Dutch .
Sequoyah ... .
Pnpulpa Ftef .
Sinclair
Midwest Kef . ,
& H
2T
1 4(4
l-l
ft 14
12 1 4
21)
in4
13
!(.
MM,
I'n
lii-V.
l
117
RAII.ItOADN
Rock Island com 3HVi 3H'S
Rock Island (A) pref ... 7,)4 XK',4
Rock Island (B) pref... 72 ',4 73 V4
Western I'aclllc w I 23 25
Western Pacific pref.... ft I 55
Wabash Plttsbuigh 2 J S4
do pref 02 35
STAMiAnn on, .vrocKS
.IK'S.
7514
Illinois 243 24H
Ohio ...1811 3KX 3UJ
rralric Pipe . .. .335 341)
Stand Oil California. . -3tis nut) mis
Stand Oil New ,Ieise 725 7 til
Stand Oil New York 284 288 2811
II
4!i
I
I ii 14
114
fin
3',i
20
no
MINIMI STOCKS
Alaska .Standard .... !i
Atlanta
Hlg Ledge
Blsbee Copper (a piosp).
Ilutto Copper Zinc . . .
Butte N Y
Calumet A- Jerome
Ccrro de Pasco
Consolidated Arizona ..
Kmma Consol
First National
Florence C.oldneln .
Goldfleld Cons
Cioldfleld Merirer . . .
Green Monster . .. .
Hecla Mining "TJ.
Howe Sound 7 '
Independence Lend .... 1 5 Vi
Jim Butler 73
Jumbo Extension 3u
Kewanas 18
McKlnley Uarragh 48
Magma Copper 47
Mines Co of America...' 2
Nevada Wonder . .
Nlplsslng
P.ay Hercules
San Toy
Seneca Copper
Tonopah Intension
West L'nd Con
White Oak
3',
li.
1 7
ft'1.
I2'i
7 I ',4
nn
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8
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52
411
2V4
2!(.
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IVh
17
15 Vi
4Vi
7S
4
I 15-I B
H.6
Allls Chalmers
do pref
Am Agr Chem. .
do pief
Am U Sugar
do pief
Am can
do pref .
Am car & Fdy
Am Cotton Oil .
Am It & Lea tb
do pref . . .
Am Linseed pref
Am LocomotUe
Am SinettltiR
do pref A
do pref H
Am Sugar
Am Steel l-M
Am Tel Tel
Am Tobacco
do pref
Am Woolen
do pref
Am Writ Pap pf
Amer Klne . .
dn pref
Anaconda Cop . .
Asso nil .
Ati'hlsnn .
do pref .
Al (lulf R W I
Baldwin Lneo
Hallo & Ohio
Bethlehem Steel
do pref
Barren MfR . .
Brook llap Ti
Hums Bros
Butte & Superloi
California Pet
do pref
Canadian Pnrltlc
Centrnl l.eathet .
do pref .
Ches .t Ohio
Chic Croat West
do pief A
Chl Mil nnd St P
do pref
r t' i' and St I. mils .Mi
Chl and North W.I72'
font Ins . . . .
Col (!ns A Moe
C It I P I c
Chill Copper
Chlno Copper
Col Fuel A Iron
Coin Pi odiiets
do pref . . .
Ciuclble Steel
CulMii-Am Sugar
Cuban Cane Stig
do pref
lirlgRs-Senbury
Detioll IMIson .
Den & II C . .
do pi ef . . .
Krle
do 1st pief
(7 as W .t W
lien Motor
do pref
Coodrlch Co
C.reat North pief 1 17 In
(ir Noilli Oio ctfs 35 U
llebne G W ..I Oil
llnvnna I Hoc pf . . I lis
Low
Art
17U
18
!
21 V4
81
02 ti
1034 103H
34 HJ'
Set
Close rhfL
Rfl U
I1V4 Vi
10
tiV, 'i
27 4 - "i.
84 ',4
I)2Tt '4
10314 ' Vi
0314 V4
08
47
tninj,
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1014
53"fc
1114
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inn
118 1
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2I84
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117
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111
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17'-;
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181,
nn
nt
nt;
88
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r.(
131,
311 m
1)1)1-1
125
58
III
32 1,
25
55
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23 V
1 113 ',(,
(11
185
.11)
nil
.,n,
III
II
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31 u
17
3 1 14
125
11 1 u
ftn u
08
451i
08
t7U
-114
i;
10914 I0T4
8714 nuis
.III Central
Inspiration con
Int Harv Cmp
Inteiboio Cnn .
do pref
Internl Paper
do pref . . .
Int Nickel
Inl Mcr Mar
do pref
Jewel Tea
Kings Co Klec
Kelly Spilng Tlie.
Kennecntt Copper.
Kiftti
57',,
85
151,
im
17
KUV
12 W
32-Ti
snv
7I4
I 10
ROli
Ift 14
Lackawanna Steel 85
Laclede (laa . . 10314
Lee Rubber . . 23
Lehigh Valley . . 78
Long Island . Ills
Looxe-Wllcs Biscuit
5(1
40
8 14
IW
15
1514
4 1-16
A8
314
IIONDK
Cudahy 6s OOVi B0"Vi
Or 10 de Pasco lis lift 118
Cosden Oil Cs 10514 10614
Cosden & Co new Us... 10714 108
French Munlo fis 0(HKi 01
Mldale Steel Bs II0V4 07
Itusslan 6",s 07 08
Itusslau B'ss 89i 80iJ
Todd Shipyard 6s . . .101 ld
Wcbtern Paclllc new Ds. Iin, 91 Vi
C K new BijH S year... 08 09!
du 5'js I ear .. . . 09V 00 14
NEW YORK BOND SALES
1st pref
MacUay Co
.'Max Motois
.May Pept Stole. .
Me Petroleum . .
do pref
Miniul Copper ...
M St P & S S M .
Mo Pnc w I
87 ,i
8714
57"!.
Aft
toil,
lid
I Hi
1(1
33 U
Utah. l.o 3 p in
. S0. S. MJ.
104I-, IIH'l 1n4
. n; nil'i I4
:i' 112'. i'3
.Hit mi int
. 7i 7 07 J
l)2l 2', 2
Kit's 101 inl
.ton 1 a' n-
.lnii't liio1. inn'i
,: lltOcj AtchlBon ten Is .
i- ly"" AtrhUon adj l
i ,;000 do cv la 10110. ...
lUi'i" Allan 10 Line 4'as .
r'J99n A,ln ''o Line fit
8S
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100(1 Amr Aa, . v .'.
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4?llhl, ii.io ! rvn. 11 ,.a
300(1 Aim, lllcln & I. I'm
51(100 Am turner, S Ss
IOIiiihi a :,,
, .Artn ... ..
SrllOOO mtr Urn III
T Annn An.., a. ,. .. u
1000 Ann rh,ir 4 a
3000 Armour Co l'j
an'
1nL
nil I'.-a '''.,
K7IA 87 R7'l
00O Allan Knox at Clnn l BOS 0l)S H
SOOU Allan 4 Charl Ss . U)3'i 103ii 10JJ
11KS1 bait & Ohio 31111. .. OftVi . Ofth . !
I"""" .to 5. .' Iillft JJJj'a 1 !'
l2S0no ,in j- ul .1)4 B4
?,SSoou Jo ,, 41,. . ' '. ii, tirt'a lidH
JW0 nail o Hn 3i,a. Ul'i 03H OJS
,.2S,iMth fleel lal 5a ..1(1.1 K18, 103
,?SS?Bthi Stel rf.l 5a . 1011, lni't 10 J,
,1000 Hrool.ii It T 5a . ..Will 101"a 1 0 1
VXHK !!u,n "rm D d 5a . 8Bt Vj ??
3IH1I1 fa, n... M- .,,. liiiUl mill! Hull-
,:;".. v.w.1 iuh. .,.,,,,,."..;- '".'
ftlKMl An ft. 1,1,11 1,11, ni)T
4nnn r, , ., .,-,J . ' ' cm.
SKi.Pi conn 3a 102l
w tent Leathar lit 6a .103
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.7.1... r,".' a, ion oaa- ".
ffli Vhl Dt Wat 4a , ... 7'
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loiir, h" " M """ " ..S,
nS? o.11" 4a . . . . !)U
8000 do dlv 4a . . ... U4a
.,JS " ?' i' cv sa . Minn
a
rW Uo cv 1U.
.?9Q Chl H I i ! rM j
00 do 5
1)0 rin J-
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kltSM iu"'na Uf oa
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do 4s 1833
' Jnterb Mel 4', a
lnirh If n, -
"ter Jler Mar 0a
lqunm Paper 5a
; , 00 as ,
Jan nw U 8 4H
:; " -i a as i ta
Kan city so 6a
rail I .ly Ter let 4
U.ka steel 6a J9J3
na lOU .
Sh deb 4a iB28
il. 4a 1831
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lllllllll llei Pal Co (1 Sar C
I'liilli .Minn ft 81 I. I" ala
400U Mn Kan A T lat 4l
5ii,m do l
17000 do 4'i .
Jillllil .Monlroal Tiuin 5a
12000 5lo Pae 4a u I
51,1111 do 0i . .
soon Nat 'lube ""
2IIIHI .N' V Air 11 Ml Ha.
20000 N Y Conn Ids . . .
jonil N V I" L S 3ljs re
00il N V l" It 3(a
,'UMK, do ron 4a
6KIIH11 do 61 . .
10000 do 4a
-'(mil do 4'is
500(1 NYC St I. 1st 4a
L'OOll N Y City 4'. a 100(1 .
1(111(1 dn 44 a 10A.1
6000 N .Y (laa It 4 P 4a
3111100 do 3a
400(1 N Y O W lal 4a
67(10(1 N V Itwy adj 5a . .
4000 N Y Tel sen C11
.nifli) N'orf & VS'eat I'orh 4a
2700O Nor Par prior 4a
311(111 do aen 3a . . .
IUO11 Ore sTiort 1- ret 4a
Kim) do lat da .
10000 Ore & W H N 4a
fiuon Pocohontaa Coll 6a
2000 Pacific Tel 8a
1(1000 Pacific Oaa 6a
Kim) I'COAStt. 4 Via Ser A
2000 Pub Svc N J 5a
S300D Pere Marquette 3a
47000 Keadlns gen 4a.
IJOOO Headlns-Jer Cen 4a
1000 Kepub Cuba 6a 1014
11000 Itep Ir I St Sa
2000 Itto Or 4 W clt 4
12000 da lat 4a.
6000 St I. 1 M 4 So 4a
200(1 do Ken 3a
4000 do (lit 4a .
12000 St I. 4 S F lu 5a
icon do lien 8a . .
210000 do 4a Sr A I
102000 do. 5. er U
12001) St I.outa Snn lat 4a .
inon uo 1 on 1
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41100 South 1'ar 4a
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11 8(11)11 do ltd 4a
1300(1 South Pao cv 5a
I620UU South Itwy Ken 4a
3 1 Ooil du con 3a
1 Will Tblid A ref 4a
1000 Toklo 9a
S00O Tol St 1. 4 ; 4a.
SSMMi I'tali Po 4 l.t 5a
60011 Pn Fuel (laa da
11000 II S Hubber B;
24000 V H Sltl a f 6a
2UOHO Culon I'ac lat 4a .
1B00O I'll ltwa S K 4a
3D0D I' K of O H 4 I 5a
linilOll do 54 a 1018
331)00 . do 34 a 1B21
1H0IUI V'a R 6a
5000 Va Ry How 3a
7IM10 Wllaon 4 Co Ul 8e
riaao Wab-I' lat t (P Ii
loon Weal Klec 6a
KMW Waal 51d Ul 4a
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Pittsburgh Company Pays Extra.
1'ITTSBl'ROII Jan 2t The Mauu
fadererai' Light and liJt Company has
declared an extra dnidend of pep tent
p4.va.ble Febiuaiy ii to botdera of ror4
February It.
82.
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054
1014
034
1034
1)24
044
0114
1)114
Ull'I
11)1
704
814
8(1
11)2.
82
544
,.2i,
ISJ;
704
824
7(1
hilt
hS'.J
lilt
1044
7(14
1024
ill
1,
Illl
054
101
111.(4
Io4
BB ;
as';
VTu
074
but!
our.
V.
do pref (
Mlsiourl Paclllc . . I a li
do t c I"
Mo Kan & Tex . . !
Montana Power . KKITh
National IllscHlt. . I20U
Nat KnameliiiB .. 31 li
Nat Lead 0'ii
do pief U3Vi,
Newula Con .... 2114
N V Air Brul.e ..148
N V Cetitial I li 1 14
N V N II & II ... 1514
N Y O & W 28
Norfolk & West .138i
North Pacific ...insy,
Owens Hottlfl Maiooa,
Out Silver fl
Ohio Cities tins . .112
PnclMo Mall 231j
Pero Mnrn w i. . . 321.
do ptef w i .... 3
Peniiii UK 57!'.
Phlla Co 1 1
Pitta Coal t . I8T
Pressed Steel Car 8 1 In
dn pfd . .tor.
Pullman Ch . . . ltd
Ouicksllver . . 2
f Itwy Stl Sprint!
do pfd
l!a Cons
Peart I up
do Ibt pfd .
P.epuh Ir & Stl
dn Pfd .
Senli Air Line . . I'
Sears Itoebuck ..233
do pref 127
Sloss Sheffield .. !'
South Pacific 7 7.
Southern Itwy ... 31'..
St I. fc S Fran . 231i
do pref ...!)
St. L & So pref. . 31
Studehaker . . .109
Texas Co . . .220
Third Aenue . . . 4S
Tobacco Prod aou
do pref . .103
Tol St I. & W ct.. I0!i
United DriiB . . 75 V
do Jd pief .. oo
Underwood Tjpe .lojti
Union HaB & Pap I3V4
do new IH9h
United Fruit . . ..lsJi
Union Pacific 1441.
do pref 83
I'St'll'SF. 211.
do pref wili
I H Undl Alcohol. 1241.
ny
134
no's,
5-ftH
7(iai
107
mo
08 n
112
(111 Si
12(1
2l8i
I08i,
KPS,
n7
15 'h
.18
7 n
s!
75
in.",
no'i
117
51'.
81'.
4J5
I !!'
Pint,
;r,
ti3'i
I8H
271,
.Ml id
1(12
88'.
115a,
r.3'i
13'i,
.tn'd
801,
3(1
I22W
38
13',
3I,
-' i
55
Id 'a
23',
1 1)3',
(12 li
185
18".
Ol'.j
sn'i.
114
I I
:i:n4
:u,
lW
31
121 '
III',
5H'k
117',
35 '.,
100
111.'.
11151,
,M14
85
15),
no
4 5 111
102",
41'.
31 Va
87U.
70',
i in
nn "4
15
85
1 113! ,
23
78
I2i
87 14
87','j
57
(ir.
Ili2?i
on
4C,
nn
32
51
131.
I5!i
11 !l
11)1. 11)3
120 li 1211 14
3014 allii
00 In 0014
II3W 11314
24 ?h 2IV-i
(
50
13
71114
32
7714
ln?a4
inn
08 U
lis li
noli,
IJ7i
218"',
IllSli
4(1
07
111
8
7n
82,
7.1
Illl)
00 "j
II8?
35
Mi
117
1211'tt I
riot-,
77i
III! ',4 '
tsa,
.111
112
1(12
881ii
II3U
nt'.,
i:i'h
30(),
on (,
125
511
12214
58
in
32
25
55
17'
23",
KIT,
111
185
It)',
(I I i-z
311 W
14 I
I I
31
:u
ini-i
3l'i
12 Hi
OI'h
3IH 4
117',
33',(.
ion
1113
III.VJi
37
85
15",
110
m'4
ins",
ii
3t'5,
88 '4
711,
II!)
311-4 '
45'.
81
10314
23
78
10-
K7 It,
8711
57 14
(!."
1011'.
OB
4 I 'li
lie,
3314
All
15 14
in
I
1 t'.
li
H
"i
1.
1.
Hn
' l'4
118
Illl
I3
28
13414
1084
001,
n
ill
314
32 '4
73",
581,
411,
I7W.
80 If,
Kill
inn
-
3 1 '.4
101
2l4
ion
II',
78Vi.
Un Itwy Inv 01,
U S Huhher 8014
do 1st pfd 111
U- S Smeltera. .. 3V4
V S Steel 11314
do pfd HI
Utah Copper . 10614
Utah Seo . . ..214
Va Car Chem 4314
da pfd II in
Va Coal Ir ft I'oUe 33
Wabash ... 15
do pref A . . 5114
do pref H . . 20 Vi
Wells Karen. ... I0J
WesttiiEh Klec 32 14
West Muryland . 2U
Wheel & I. K w i. Slli
do pref w I. . 3014
White Motor 51V,
Willys Overland . 361,
Wisconsin Cent 52
Wilson Co 2V
do pief lot
5 1 14
tol
27
HH.
4 Hi
7014
IIII14 Illl 14
17
231
127
(lfl',4
07 !4
3IH,
23 14
no
51
IU71.
227
4A
551",
103
Hli
75 W,
OOli
lOSVi
I3V4
109
I531i
1431,,
8IV4
JI9
62 li
I22Vi
31i
5014
HOT.
6314
113
12014
105
3314
43
HIT.
55
15
531.
30ti
105
5214
3014
31
50
5114
301.
6114
BJ14
105
118
10n
1 5 14
28
1384
10814
1110
II
III
23,
331.
73
57
4 11,
I8H
811',
ion
urn
5 I K2
tni
37
Illl W
II',
70 Vj
101 14
17
235
- '.(,
-2 14
31,
II.
'.
- 1.
4
I
',
I
- '.
",
-IT,
Ex-dltldnU I'mtaJ
Cooiuany. 1 wr .vnt
Clr
fid!.
07T.
3114
33 14
no
51
1081,
33(1
Id
3514
103
u',4
751,
901,
10514
13 Va
1 1 1 14
1631.
t'44 !
85
211,
31.
lit
ill',
5914
III
314
113
1301,
1051,
3314
13
111.
55
15 ti
511, 1,
3914 '
IU3
631H li
31 r 1,
31 - .
501, 1,
Jill
381. t 1,
a j Vans-1
.
105
Mar.ufacturln-
!,
Vs.
, I
U
V4
II,
1.
t Vi
1.
'.
""J
1,
Special tor Free Port Texas (,'ompany
BAI..TIM11RB. Jar.. 34 The Jree Port
Texas Company has declared a special divi
dend f 10 per cent, payable Febriutiy II
tv vtoik ut itccrJ February 19.
RIONEY.LENDING RATES
NKW YORK Unabated ease was ap
parent In nil of the money markets today,
and In some cases lower quotations were
made. Collateral lojins were nominally un
changed nn Rood mixed Stnrlt l-'xclwnRe
securities at 2, fl3 per cent for sixty days
lo four months, lnclusle. nnd at 33ii
per cent for tle and six months. There
was only a shade firmer quotation than on
good mixed for Industrial money
Prlme hank acceptances were easier at
S 11-IG(ii2'j per cent on eligible, while
Ineligible-! wete nominally unchahged at
U'StrS's per rent. Prime mercantile paper
market dullness was unreliced. owing to
the dlsptopoltlonalely smaller supply than
demand Hates were 3145(314 per cent,
with the tiet'HKe business nt the higher
neunv
Cnll money opened at I", per cent for
lending nnd fencuing.
I'ltll.Atllll.PIIIA Call, ,1', per cent,
lime, 31, chs percent. Commercial paper,
three to hIx ninnths, 3'sffTI't per cent.
HANK Cr.EAKl.VGS
. ('"'''(.'I'nrlnija toilav fohiraful With mrre-
Rfwxuoife ,,,. ,m, , ,v .nr.
I II 1 7 1 n 1 R
135.1 1. '.25 1 12n.Mii mn 1
nrk ..1.I.7AJ Hi? nn ,.17 naa ,.-u n, V.
hllsdelnhih tn.itii tni uwiti "'J,,';r'l,!ii
I'lil.HRii ?n,im5. pin .vi Ml,;, 1 7 m.iin.inw
Isltlmnr n.liln.ilst A 30S 77s 5..153 s-.'fl
St Lollla III 1142 7.'.1 III I 1.1 107 I2 87D572
.SEW YOKE KUTTEK AMI EGGS
,.S,KXJ ,y"nH , 'n . '" -IM'TTBM Krlpt
li! ' '''.". Prl.es rnrihrr nlnnelnB on ell
f-in.x miile sraila Kurn til'rtnSr hlnliai-
inanca tn nlhrr srnitr
KlHISl- fir, Hut. VllSI , nr Prr.ll ealh,,.r,
ntnri ami -nkr smrne. akn llxiin, fv
s;.wr"';.. '".-.'.,r.r" ..""'''.- srn,,d.
......... .. ,,,,. - .1, ti .,1 ,,., n piiii
mlx.l mlor. M J,
ftn.ten
New To
. .1PLV
ST
I3ll.
FOREIGN EXCHANGE
NKW TOnK .Tan 2t -As usual recently
In the market for foreign exchange (he
early dealings toda showed new low rec
ords In Italian and Itusslan (Vxchnhge
Itelchsmarks and kronen were belter, with
the last mentioned up to 10.00 for cables
and 10.S8 for check. lltislncs In this
class of exchange ns In relchsmarks has
entirely nominal, ttelrhsmnrk rabies were
quoted nt B7? nod cheeks nt 6 3-lfi ; rubles
fell to 2S.3.1 Tor cnbles nnd 2.25 for checks.
Sterling frnnrs nnd the netllrnl exchanges
were mainly steady.
Quotations follow-
Demand sterling 1.75 'j. cables 4.7(1 T-ib;
60 day bills nominally 1.72 '4, SO day bills
4.70U.
l-'rntic cables ,"..S3ij. rhecks 5.8t.
Lite cables 7 H. cheeks 7.1S.
Swiss cables n.OIifi. checks S.Oi'ij
This last mentioned exchange wns to nn
extent shaded on account of the reports of
n postponement by Austria of nccotlnts new
to Swiss business Interests,
other quotations were:
Pesetas cables 21 30, rhecks 'I. -'ft
itullder rabies to' less 1-32, checks tn
13 16 less 1-32.
Ititble rallies .'.35, checks 2s..'."i
Slot Minim cables 29.60, checks 2n,4."i
LIVE STOCK QUOTATIONS
' Itll'A(H) .Un 21 ItnUN net'lpla, 15 nno
Marhrta lnV15i lilltliar Mlx.rt unil h,.h
ais Jtnnil 15. timd lirnx.v tl12nflllrn
imish ln. 1n O.lff tl.lfi. Hutu 'tiisnfitt ,m
Plus n 25 in r,n. nuik. lit iiirrtl in
I'ATTI.U - naotnts 17110 Mi,rkil In,
hUhcr I1aeaa l7 25Wtltll) ,,. i, n. )., if
t .", Win (15, ato, Ufra ami f. ,,lni u -, ,,
S til) loxnna J7',lltinn mlwi JIM, It?-,
Slir.KP lt"i-ltii IS linn Merk'-ta ia h
Satip nn. I we.tPin. Ill -.'. fp 13 Inmi,, jit 7;,
CII Ul
SECURITrES AT AUCTION
Several good advances were made by
bank nnd trust company stocks today nt
the nurtlon rale of Uarnes & Iofland.
Cllrard Nntlminl gained 13 points to 3R3,
Logan Trust 6 points to 1651. nnd Plrst
N'rttlonal sold at 215. up 4U points.
STOCKS
inn slira, WrKht coal nni! Coke Co., tts-1
lelsh I'ounlv. W. Va . lulf lino, . .".0
2 shrs I'hllsilKltihta Nnilon.-il Hank, rar
tniii .-.un
3 ahrs (lirnrJ Nmlnnnl Itnuk. tmr lloo. nH.
97 ahrs. tlirnrd Natlnn.il llanlt: wf. lino, ass'i
lno'j
no
no
inn't
a;',
I
I
S3
815
ss
en
97 ahrs. tlirnrd S'nilon.il Uanlt: wf lino.
inslirs ttanl llstnte Trust Cn prefafreil.
nar linn
25 slirs Pntla.lMphln VrehonIn and
coal stornae Co.: par Jtntl
I shrs PhlltKlMpriln Illnire common; par
$50 .
t shr. Pennsshnnla Aradi-my of l'lne
Arts
20 shrs' AmeMt-Bn DreitglnB f'n : par
35 slira Insuran.o i-'n or Norlli Anier'les':
psr.ltn . . . ,
1 ihr. Men-smile l.llirar. Co. of Phils-
30
S5
1121.
,,,1Mi.n . ,
II lirs Tu.-kerlon Ilnllroad Co pre
fprr. tl: par J.VI . . . . ,
15 stirs Conllncntnl-KqullaWa TfllM Co.:
i. r IKn
111 shrs Plrst Vatlnnnt Hank. PfilUtlel-
phlA, par
pnr 50
'm
Inn
20 atirs Coptlnentai-HriultsMe Trust Co.
irr "r'llle ' anW ' frust' i'o '
5 hrs. Ill
psr .io ...
.' shr tlrtnan Anwlian Title ami Trust
i'o . par ISO ... ... . .
12 hre. Lnsjan Trusi i'o par JlOO
l"i ahra prnplp'a Trust Co par $50.
n ahfa Neranlnn Life Insiiranre Co . par
Illl ....
."Ill hra. .Soflli IViinavhanla tlaltrnnil Co .
par Ian .
I lir rhlla1ltlila and tt'adlna tlsll-
t.tart 'o rrrst pr-frrr'.l. par 150
1 lir Thlrtri'iuh and Plfternth !trrfl
I'nasnaor tlnllttui Co
I -lir (l-rtmititnwti ( It li and 8th ia 1
I' 1-,,.,'hk, i Hnllw n i o
I vi,.. ioi n it st.unn to pf-frri-.l
nn stun
In ilit It, tui.i A l-.ni:t, llrrtilnu t ,,
Ml, f II' I P." I JIOII
, -lit- I lltl ,,1, lll MO'I I 11111,1 It I' t
t ,' i,r 'ill
!Snj
11
Pt'i
41
SlO'a
HIT1,
I7'i
10 shr Am.ttcon TIM And Cenitnielion
. ,'o., par JiOo ,
6 shr Smith. .Kline. French Co eom-
mon, par iioi) ...
02 shra. Colorado Kuel and trot, Co. pre-
. . irrrraj par liuu . . .,,..,. ...
4 anra f.hllarfalrtl.ltt llm.raj. nr(irr41
, , Pr ia.1 24.14
lno ehrs. T Soto Placer Mlnlnar C.,.,lOt 4
20 shrs. Prudantlal Itan Society of Phil
adelphia, par 110 S
"i ehr. I'annaylvanla Co 725
.111 stirs. Hmplrn ITeamerr Co. praftrred:
2(1 shrs Umpire Creamery Co. com- .
mon lot $1800
1IOMD9
11000 Suburban On Co ef Philadelphia.
5 per cant First mnrtRnse.
Coupona April and Octobar. Due
1052 lOS'.i
SOU !-'prlnitflM Water Co.. 5 per cent.
Consolidated morttrnse. Coupon
March and Haptambcr Due 102S 90!i
100(1 North HprlnsHeld Watar Co.. 5 per
rant I-'Irat mortsase. Coupons ,,
.lAnunrr and July. Uue 1028 . . 85'a
1000 N'orth Sprlnafleld wcter Co.. 5 per
rant. 1'lrsl mortaa. Coupons
January and Jutv. 1)110 IA2S . . 55
2000 N'orth Hprlnsfleld Water Co. It per
rant l-'lrat mortgasa. Coupons
. January and July Uu 1028 .. 84'4
SJnOOO Inleratnte llnll-ay Co., 4 par rent.
Collateral truat Coupons Feb
ruary and Ausuat Dua lt15,.. nB'.i
2n Turkarlon ttatlroad Co (flerlp).t)t $4
5110 Tuckarton Ilatlroad Co.. n par rant
l-'lrat mortaniia Coupons Jan
uar and Jul). Pue 1030 91
Telephone Earnings Greater
WASHINGTON. Jnn. 24. The-operating
liicnms of the fifty-nine telephone com
panies In the I'nlted States with annual
oporntlng revenues or more than S2S0.000
onch Increased S.o per cent In October,
IMC, over October. I3IS. and reached a
total fnr the month of J6, 020,09!!. accord
ing to the Interstate Commerce Commission
tnda The updating Income) for the te
months ending with October was J6S.33S.76v
.111 Ini-rease of t-'S yer cent over the cor-
rrxponditiB period of prclous year.
$250,000,000
United Kingdom of Great Britain and Ireland
ONE-YEAR AND TWO-YEAR 5V SECURED LOAN
CONVERTIBLE GOLD NOTES
Dated February I, IUJ7 Interest payable February 1 and August 1
$100,000,000 One-Year Notes due February 1, WIS
$150,000,000 Two-Year Notes due February 1, 1910
Principal and interest payable at the office of J. P. Morgan & Co.
Convertible upon notice, al the option of the holder, a I any lime before maturity, or (if called for earlier
redemption) at any time until and including the date of such redemption into Twenty Year
' Vi '
Bonds of the United Kingdom of Great Britain and Ireland, payable
February 1, 1!)',17, and not subject lo prior redemption.
Principal and interest of the notes, and of the bonds into which they may be concerted, is to be payable,
without deduction for British taxes, present or future, in A'ct? York in United Stales
gold coin, or, at lite option of I he holder, in London in sterling al
the fixed rale of S-J.S6V: to the pound
Coupon Notes in denominations of $1,000, $5,000 anil $10,000
x Redeemable at the option of the Government, in whole or in purl, on Ihihij (30) days' notice, as follows:
From February I, 1917, lo January III, 1!)18
Front February 1, J91S, to January 31, l!)l!l
One-Year Notes
101 and interest
Two-Year Notes
102 and interest
101 and interest
The notes arc. lo be secured by pledge with Bankers Trust Company, Xcw York, under a pledge agreement
executed by the Government, of securities approved by J. P. Morgan tO- Co., of an aggregate value of not less
than $800,000,000, calculated on the basis of the then prevailing markets, sterling securities being valued in.
dollars at the prevailing rate of exchange, vi:.:
Croup I. Stocks, bonds andor other securities of American municipalities and corporations
and of the Canadian Pacific Railway Company, and bonds and 'or other obligations
(either as maker or guarantor) of the Government of tin; Dominion of Canada, the
Colony of Newfoundland, andor provinces of the Dominion of Canada, andor ap
proved Canadian municipalities: Aggregate value not less than $150,000,000
(Of the foregoing there will be somewhat over $100,000,000 in Value in the securities
of municipalities and corporations of the United States and of the Canadian Pacific
Railway Company.)
Group II. Bonds and'or other obligations (either as maher or guarantor) of any or all of the
several following Governments, to wit: Argentina, Chile, Cuba, Commonwealth of
Australia, Egypt, Japan, New Zealand, and Union of South Africa, andor bonds
andor other obligations of approved Railways in Argentina and or of the Grand
Trunk Railway Company of Canada, andor approximately $25,000,000 value in bonds
and lor other obligations of dividend-paying British railway companies:
Aggregate Value not less than $150,000,000
Total $300,000,000
Pending: the arrival and deposit of definite securities as above, the Go eminent is to deposit
temporarily with the Trust Company cither approved New York Stock Exchange collateral or cash.
It the pledged securities depreciate in value, the Government is to deposit additional securities
to maintain the 2Qfo margin.
The Government is to reserve the right from time to time lo sell for cash any of the pledged
securities, the proceeds of sale to he applied to the retirement of notes by purchase or by redemption
by lot.
Upon the retirement of the one-year notes, or ujinn reduction of the amount of notes outstand
ing, through conversion, a proportionate amount of the collateral may be withdrawn approximately
ratably from each class.
The Government also from lime lo time may mukc substitutions of securities, but such substi
tutions arc not to vary the then relative amounts in value of the groups. All substitutions, withdraw
als nml valuations of securities arc to be approved by J. V. Morgan & Co.
This offering is made subject to the approvul by our Counsel of necessary formalities
WE OFFER THE ABOVE NOTES F OR SUBSCRIPTION AS FOLLOWS:
The One-Year Notes al 99.52 and interest, yielding per cent.
The Two-Year Notes at 99.07 and interest, yielding ti per cent.
Subscription books will be opened at the office of J. P, Morgan & Co., at 10 o'clock, A. M January 24, 1017,
and will be closed at 10 o'clock, A, M., January 31, 1017, or earlier, in their discretion
THE RIGHT IS RESERVED TO REJECT ANY AND ALL APPLICATIONS, AND ALSO. IN ANY
EVENT, TO AWARD A SMALLER AMOUNT THAN APPLIED FOR
Mmounf "" on allotments will be payable at the office of J. P. Morgan d Co., in New York Funds, to their
order, and the date of payment will be given in the notices of allotment
vm
Temporary certificates will be delivered pending the preparation of the definitive notes
FIRST NATIONAL BANK
New York City
BROWN BROTHERS & CO.
KIDDER, PEABODY & CO,
,. P. MORGAN & CO.
HARRIS, FORBES & CO,
J. & V. SELICnVAN & CO,
LAZARD FRERES
NATIONAL CITY COMPANY,
New York City
Will. A. READ & CO.
LEE, HIGGINSON & CO.
WHITE, WELD & CO.
KISSEL, KINNICUTT & CO.
GUARANTY TRUST COMPANY OF NEW YORK
BANKERS TRUST COMPANY, FARMERS LOAN & TRUST COMPANY
New York City New York City
CENTRAL TRUST COMPANY OF ILLINOIS, UNION TRUST COMPANY
Chicago PitUburgh
CONTINENTAL AND COMMERCIAL TRUST AND SAVINGS BANK chiCago .
wnni j tmrr r-i mnrinm imirn A xnr . ,
lUnllUSU 1 ILitU I ItUOl Hwr'V 1 zt. low.
MARINE NATIONAL BANK,
Buffalo
FIRST & OLD DETROIT NATIONAL BANK,
WaVirwM
Cam
WlrTaWTTTFlWir I Jf
m
.... VI
tiii 1 1 aaa rtwtatBM1iliiinn iaa6 imrn dial