' I a I'' II 1MB"' $1-2 3 7 ;s "$' 'v TAX FREE ISSUES t B UNITED STATE8 LIBERTY LOAN 3j A. 4 CITY OF PHILADELPHIA 4s MAHONING . SHENANGO RAILWAY A. LIGHT COMPANY FIRST & CONSOL. 5s REILLY, BROCK & CO. BANKERS 306 CHESTNUT STREET I'UlLAUtSLrUIA vtctto rf -vm Tnirifitp J-Twrn a T.Tmr;PTrr a ' "trtiyA .v " TSTAVRMTTRR 23. 191? FINANCIAL NEWS-NEW YORK AND PHILADELPHIA ST(icK MARKET QUtiTAffl LEADING ISSUES SHOW STRENGTH, WITH TURNOVER ONLY MODERATE Demand Sufficient to Absorb All Offerings at Good Advances Lackawanna Steel Responds to Extra Dividend Declaration By Contrast Haven't you often uondered. after becoming accustomed to some new convenience, how you ever got along without it? You will feci the same, way about this thirteen-hour banking service if you once try it. It is it convenience and a satisfaction that can be appreciated only by contrast. REPUBLIC TRUST CO. Open 9 A. At. to 10 P. At. 1429 Chestnut Street Federal War Revenue Bill We have prepared, in booklet form, a summary of the Federal War Revenue bill, including tables of the Income Tax, show ing exemptions and amounts persons will be obliced to pay the Government. The subject of excess profits Is reviewed, with practical ex amples showing: how the amounts are computed. Ask for Booklet L-10 A. B. Leach & Co. Inrnrpnrnted 115 South Fourth Street Barnett Oil & Gas Company PRODUCER REFINER DISTRIBUTOR Refinery of 'JOCK) barrels dally capacity, 1U3 Tank Cars. Own Pipe Lino from wells to railroad. Distributing stations. Placed on quarterly dividend basis. Payable January 10th 3fi and 3J extra, fald "3 dlldnd last year. Actlv dally market (at around $1H ). We Do Not Charge Brokerage on Barnett E. H. CLARKE i Morton R. Alexander (Ilealdent Partner) Phone 1140 rjprure 6loel( Kxehanee bids. Phils... ST William St. r. New York City. Tax Examples Shouting how law it applied Our Federal Tax Depart ment, under the supervision of experts, has prepared a pamphlet of examples show ing how the provisions of the Income Tax Law are specifically applied. These examples will fur nish inoividualt, partner thipt and corporation with a practical working knowl edge of the application of the Law. A copy of this pamphlet, l'E-1 10. will La furnished upon request. TheNationalCity Company 1421 Chestnut St., Philadelphia New York Chicago San Francisco Boston Pituburgh Thc Censor Will Not Allow' APicturctobc Shown Hc BUT- IVis permissible1 to state that we" are nowat work on the vast new $9,000,000 FORE RIVER DESTROYER PLANT, 73uitt by .ADERTHAW. kCONSTRUCTlONCQ. DIVIDENDS WKST PHILADELPHIA TITUS ANU TKUBT tOMlANY Philadelphia. November 1. 1D1T. Board of Directors haa this day declared lunnuAL uivwcnu ur aix. (uj fKit clear of tax, payable December I. 1U17, BOiaera as rexisierea on ens books of ai Close oc Business novemoer V, sSXransfer Books will be closed from Ne ar ta November SO. 1017. HAU-J1 J. L.CVK11I.NU. Trcaaurer. High Points in Today's Financial News Many substantial gains were recorded by leading stocks In A'cio York: Turnover only moderate but demand easily absorbed offerings. Outside. Interest tndreascd on the Curb, Corn and cotton were M'jlier. hire declined again In foreign exchange market. Vxtra dividends were declared by the General Chem ical Company and the Submarine Signal Company, liar silver ivas unchanged in Xcw York and London. NEW YOIUC, Nov. 23. Tho most Important feature of tho stock market In toduy's trndliiK was tlio evidence of the general lumlenlnK of tlio market for tlio leatlltiR issues nnil the ease with which advances were, made in closely controlled stocks. It was com mitted on that, while the market was not bit;, the demand was easily able to absorb all offerlnKs not only nt recently prevailing prices, but at good advances, and satisfaction was expressed over the fact that gains twlilch were inailo during tho day In many Issues were well maintained. Thero were realizing sales at times that caused reactions, but upturns wcro (illicitly In order, a fcaturo of the market being Lackawanna .Steel. That stock responded to the declaration of the 3'.6 per cent extra dividend with an open ing gain of l!?, to 80ai, and, after reacting to 79V4. had another quick advance, which carried Its price, to above SI. Ttepubllc Iron and Steel was another strong feature, movpig up more than '1 points to 7"',4, although It had been thought that the death of Cirant H. Schley would exert a depressing Inlluenco in the market for the stocks with which he had been Identllled. United States Steel, after selling at 96, rose moro than 2 points, and numer ous other Issues made gains of 1 to 3 points during the day, meeting long stock on tho way and recording the reactions which AVull street finds it natural inci dent In a hull movement. Marino preferred was an exception to the general show of strength in the afternoon, and, after selling at 07i, declined to Ufi'.i. Interest in the bond market continued largely concentrated In the Liberty Uonds. Sales of these Issues were In largo volume again, with the 3',s rang ing from 89 to PS. SO. and the -Is front OS to 07.S0. Values Respond to British Drive One of the obvious features in connection with tho response In values to tho successful British drive Is that it Is only a sample of what may bo expected In a great forward movement should there bo any signs of importance leading to ultimate peace. Tho speculative situation has changed color com pletely since tho entrance of tho United States into tho world conflict, In so far as those- who at first imagined tho period of great Inflation in values all uround was inevitable have como to tho conclusion thaat war is a serious business of making sacrllices. It is only reasonable to expect that from now on tho specula tive contingent will be Interested more in the constructive phases of peace than the Inllational tendencies of war. Although trading in tobacco stocks has picked up somewhat during the last few days, there still exists an apathetic tendency contrasting sharply with tho inflation and great activity in tills particular group during the slimmer months. Apparently the majority of former traders have had sufficient tnsto of the brand of manipulation conducted in tlio tobacco group and have decided to keep their hands off. However, American Sumatra can still claim quite a few friends, for this Issue has presented the best totals during the current week. The company is generally believed to have a bright outlook from an Investment point of view. Assurance Is given of tho use of American-grown Sumatra tobacco after the war. As regards some of the other issues. Tobacco Products is ruling now at only two-thirds of the llgurc reached several months ago, and United Cigar Stores Is hovering approximately 40 points from Its high of the summer movement. LONDON STOCK MARKET fiirrev or accountant TAV- AeeoaaUaU a p.'ju . Tone Firm, With Brisk Dealings in Spe cialties Americans Arc Dull I.ON'no.V. Nov. 23. A cherful feeling prevailed qn the Stock Kxcluuigc today and the tone of the markets was firm. Thcro Was brisk dealing in specialties. Gilt-edged Issues were firm and small advances were recorded In home rails. Americans were dull with mixed changes, and there was only a limited amount of business In the Canadian rails. The rail road stocks of Argentina, however, were htrong In tone, because of what many con sidered a hopeful outlook for the properties. Ilusslan securities were nominally weak mi tho news from 1'etrograd, but there was a steadier tone to rubles. Bankers, how ever, are showing Increasing Indisposition to discount Ilusslan paper, pending the clearance situation. Bonds of the other Allied countries held firm. NEW YORK COFFEE MARKET NEW YORK. Nov. 2!. Thero was a let up In the demand for coffee contracts this morning and as a consequence values were easier. There was continued liquidation in the December position, that month showing a decline of J points from final figures of yesterday. There was a noticeable lessening in the local trade demand and It was believed that most of outstanding hedges had been taken In, Financial Briefs Vest. Onn lllk-h !" Close clove Deremlier ... " ". nf,l ""' "M1 January .'( ''"' Ji-W-' February .... 7.'0 01 ..((.. March ....... 7.10 7.U 7.1? 7.13 7.H May 7.-JL' 7.30 7.2.1 7.L"I 7.30 July 7.41 7.4.'. 7.U 7. IT 7 111 September ... 7.(12 T.fir. 7.00 7.83 1.1II 'Hie following applications to list securi ties have been made to the New York Stock Kxchange: Tnllcd Alloy Steel Cor poration, 25,000 bharctt, without par value, additional capital stock. United Krult Com pany, 51,521,100 additional capital stock. The New York Stock Exchange seat of 'William l.emmc-n has been sold to .lullcn Stevens I'lman fur 550,000. an advance of $5000 over the last previous tale. Com mittee on admissions has approved J. Ray mond Boyce. a proposed substitute of Allen L. I.lndley, of Llndley & Co. Application has been made fo the New York Stock Exchange to list tho following Buffalo, Rochester and Pittsburgh Railway Company, $2,135,000 additional consolidated l's per cent bonds, due May 1, 1037. A special meeting of the stockholders rf the Westmoreland Coal Company will 1,0 held on December 11, at 12 o'clock, to !, action on tho proposed merger of tho Pcnn Clas Coal and the Manor Gas Coal Into tho Westmoreland Coal Company. TMi- TtlllnnhnilMI. T....a - - me Hiirauiuim iiuoi company has ile. clared the usual semiannual dividend of 2U per cent, payable December 10 to stock of recoFd December 5. It had been erro neously stated yesterday that tills dividend wa3 at the rate c-t 2 per cent, payable De. cember 20. New York Stock Sales llllh Alaska Uotd Mine. 3H Allls-Chalmcrs Co mid Am Beet Cugar .. 7ft Am Can 3.1 do prcf 03 Am Car & l-'dy C. azy, Am Int Corp .... an Am Hide & Loath. 1 1 do prcf 80V4 Am Linseed "0M do pref 7s Am Locomotive.,, ,1ft Am Malt pref Am Smelt . , do pref . . Am Sum Tob Am Stl Kdry Am Sugar . . Am Tel & Tel Am Tob. . .. Am Wool .(314 Am Writ Pap prcf SI 14 Net Low Close chit. SV W IM 1 1,4 7S 73 1 34 3ST4 2U 0.1 03 1 ot vi as 94 0.1 na 1 13 I3?4 tj, .18 SUM, H4 sa snvfc 1 -.iV T4 ,4 31 33 .. 31V4 ol4 t4 75U -). IV, 1034 10314 3 S', 37 3 '.. BS9 ?(, Ofl'Si 0Ti 1T4 1118 t08l)i 1081)1 -f- Vb no 173 mi n . 8114 . 704 .ion. . 81 Vi . 30 . 88?!i Anaconda Atc'hlson do pref Atl tlulf & W I llald Loon Co. . Halt & Ohio . . . Barrett Co Beth Steel .... do B do prcf t c. . . Brook Rap Tr . Burns Bros Butte & Sup Cop 30 . 81104 . 83y, . 1011 . 37 . S3j, . on.4 . 83 . 83l)i . 98 . II .113 IV Cal Petroleum pref 38 Canadian Pacific. .1311 Central Loath . 08-74 iVrro de Pasco . . no ('handler Mot ... !) Ches & Ohio 18 Chi CU Western.. 714 do pref "JO'S, Ch M & St P.... .18 do pref 73 Ch & N W 11311 do pref 1 1.1 Ch R 1 & P t c... 10 do 0 p c pf t c. 13 do 7 p c pf t C. 33 Chill Copper 1314 fhlno Con Copper. It'ii Co! Kuel & Iron.. 33T, Col (las & Elcc... 3(1!;, Consol (las 87 Cont Can om;i Corn Products.... 3(Mf, do prcf !M Crucible Steel 3714 Cuba Cane Sugar. 3014 do prcf 70 Del & Hudson.... 03!', Dome Mines 1!h Distillers Secur. . . 37"i Erie 13!, do 1st prcf .... S.1 General Elec Co..l3'J General Motors . . 91 Goodrich II K. . . . 3(1 "4 Great Northern pf Hi DIVIDENDS DECLARED Great Kails Manufacturing- Company, regular semiannual of JH a share, payablo December 1 to ntock of recopl November 22. Central Foundry Company, retrulnr quarterly of 2 per cent on tlrst preferred and of lu per cent on ordinary preferred, both payablo Janu ary 15 to stork of rerord December 31. Portasn Itubber Company, quarterly of 3 per rent, payable February 15 to stock of record 'Pennsylvania Water and Power Company, regular quarterly of PI per eent, pajable Jun uary 2 to stock of rerord December lt. Calumet and llecla Mining Company, dividend nf J 10. payable December 20 to stock of record November 2s. 4 ., , Yukon Alaska Trust Company. reBular quar terly of 11: Yukon Hold Mining Company, resu lar quarterly of 71s Per cent, lloth dividends are payable December 31 to stock of record AtUntfr1''(lulf and West Indies Steamship Company, regular semiannual of 13 a share, payable February 1 to stock of record Decern- bfUnlted National Utilities Companv. dividend of Vt per cent on preferred, payablo Decem ber 13 to stock of record December n. American nallwajs, regular semiannual of 0 per cent on common, payablu December lu to Ctnrk of record November 20. Hallway Steel Spring Company, regular .quar terly of 1H Per cent on common. pa able De. cember 29 to stork of record December 15. and li per cent on preferred, payable Decem ber 20 to i stock of record December 5. Crown Oil Company, monthly of 2 per cent, payable December 15 to holders of record o- "Everett-Heaney Company, Inc., a dividend of ftOc a share, payable January 2 to stock ot record D'6'd" Dominion Company, quarterly of $1 a share, payable December 31 to stock of record December 10. LOCAL MINING SfOCKS TOKOPAH STOCKS Jlld Ask Jim Butler 73 .77 MacNamara ;0 .23 Midway 10 -1- Mlipah Extension 01 .oe Montana " .17 North Star n .07 ltescue Uula 00 ,11 West '-End CI .CO OOLDFIKLD STOCKS Atlanta S .09 Illue Hull 01 .02 llooth 04 .05 Dlamondfleld 11 Is oj .0:1 Daisy 02 ,03 Kewanas OA .OS Oro .01 .02 Sandstorm Kendall 02 ,0.1 silver Pick 00 ,03 MISCLLANEOUS Arizona United .22 ,23 Nevada Wonder l.lin 1,711 Tecopa Jlln 21 .27 Extra Dividends by General Chemical NEW YORK, Nov. 23. The General Chemical Company has declared an extra dividend of S per cent en common stock at par and a special dividend of 2V4 per cent in cash on Its common stock, payablo February 1, 1918, to holders of record De cember 31, 1917. The company also de clared the regular quarterly dividend of 1 H per cent on Its preferred, payable January 2 to holders December 19. Following: the meeting of 'directors' It was announced that William Kerr, manager and no the INACTIVE NEW YORK STOCKS Following are quotations for ln-irti,. .,,.., .-.. .,...... ' " iin.-n morn were ,...v. ....... -.,. -..,, ,,nce given is last previous sale. a n s F r1"."'-?!,' a 11 ft s F pf...mu Adams Express... 115 Advance IU""ley.. 13 Advance Hum Pi -11 A1ax Rubber . Alaska Juneau APIS - nuim Am Am Am OA j&PMf-'.'!. nn 110 Mo if . . 'or. . 7u. urn pf 2H4 M.stJ.ssK ".. 4A r .... 00 Mo Kn )J P'-11T Aur Chem. . 79 Morris & 1 '.."' 30U Ar Ch'm ,"',?,. gat Arm- " pf "'1 far & FPf.. 101's Nnt lilsrillt 20 Cotton Oil... 32t xnt jE' - W C" i'lk HV"t-i7 Am ..... -- . - nii: Am lcecP National i-vL D' as rVS' ":: l Nf'nA5?,?: w:; aDI HSlUg x igH ??! ,?R l& do Oro subs C.reene Can Cop. (iulf State Steel. Haskell & Barker ll'lnols Central ,. Int Agrlcul do pref Inspiration Copper Interbor-Cons Corp do pref Int Mer Marine . do pref Intern Paper .... Int Nickel Kan City South. . . Keiiuecott Cop . . . Lacka Steel LehlRh Valley I.n- Rub & Tire... l.ouis & Nash. Maxwell Motor . . do 2d pref May Dept Stores Mox Petrol Miami Con Coppor 28!l, Mln & St En now ton; M S P &. S St M... Midvale Mo Kan & Tex . . . Mlrsourl Pacific. do ctfs Mont Power Nat Con & Cable. Nat En & Stpd.. Nevada Con Cop. N Y Air Drake.. New York Cent. . N Y N 11 & II... N Y Ont & Went Norf & West .... Northern Pacific, Nova Scotia Steel, Ohio Oas Owens Bot Penna R R Pere Marq w 1. . . I'lllla Co Pitts & 'West...., do pref Pitts Coal do pref Plerce-Arrow Pressed Stl Car. , Quicksilver pf..., Ity Stl Spring '.. Ray Con Cop . . Readltm Rep Iron & Stl. . . do pref Royal Dutch ... Saxon Motors ... St L S F w I .. do prcf Seab Air Line pf Sears Roebuck pf.141 Sloss-Sheff St & Ir 38 Sinclair oil 31! Southern Pacific. 84 Vi Southern K It.... 23 Sup Steel 38 Studcbaker ISi Tenn Cop & Che wl 12 Texas Company. .111 Tobacco Products. 19 I'nlon Pacific... Vn Alloy Steel... 28 ', 37 Vi 88 V4 28i on II 38 II Va 5 1 2fl',i fl8 18 33V4 8 1--)', 12 118 25 !(!! i:i 70 H 83')i 4.- I'M 3 1 Vi 4i; 23!i 38 I7V6 .111 1- 71V. . 37 15 . lOVi .100 , 88 , 03 . 3(11', . :vi . 17 -3 V , ,'li . 4' , 80 . 31 Vi . .10 4S!i S3 .18 8V'i 83')i asii .13 Ji 01 83 8(l!n 0.1 II 110 17 V. 38 131 fiil'!i 30 0 1 V4 II Vi f'i .17 Vi 741i Dili 113 lVi 43 .13 Vl 1.1 IP. 3P,i 30 87 03 28 01 .1.1 V4 20 Vi 70 03 V, ! 30 ll!i 23 I38i 92 30(, ')' 2V. 37Vi 88Vi 38 90 13 3R 43V. 7Vi IS'li 3.114 90',i 21VA 20',i 321!; 79V, ,1.1 1 IK 33'!', ni; i7-r, 77-T, 28"i 9!i, 83'!, II 4-r. 31 II o')i 23 ti. SJVi 17",i 1 1 1 Vi 70!(, 27 19 lO.I'.i 87 (13 !i 3.1 Vi OAT, 47 Vi II 38i 22 .10 4,1 80 31 .10 43V4 4Vi 1 bo i 80V4 V. 83n vi OH 14 V. .17 .13 V. 91 Vi 1 1 2Vi 1 3Vi 83 8.1 Vi 97!s II H2V4 17 n,i fl8 13(1 Mi f "i t- IVJ. V 1 07 V4 30 -r Vi nivi .. 48 7Vi Vi 20 a 714 M 7114 .. 9.1 . 112 19 13 .13 Vi I.IVi 11 3.1 Vi 30!i, 87 ooy. 30 91 57 Vi 20 Vi 79 93i 0!i Sfl'.'i 1,1 23 133 93!!, 1 nn vi 93 28 37Vi 88Vi 28 9(1 II 38 14 7 P4 lVi "i V P.s V 4- '!i Vi J- M 3 1 1 1 Vi Vi 2 4Vi 18 33 Vi 8l!i 1.1: 2.1!! 90 .. 2P.4 2 SJVi 4- Vi -:- !fc 3r, .1.1 Vi 12 118 1 SIV4 4-1 lOVi 4- Vi 704 1 78 Vi 4- Vi 2Hi ',. 10 4- Vi 831, 1 4.1 4- !i 154 2IVi -a- Vi 11 4- nj', vi 23i Vi 38 1V1 17 Vi .. Ill v.. P.i 71V, 4- Vi 27 .. 19 114 ion "i 87 01 4- Vi flSTf, P,h snvi . . nna-, 31 7 4- 4- 4- 4- Vi 4-1 43 !!, 72!i 7sr. 94 71 Vi M Vi 2.1 19 13-H 33 Vi 71 73V4 91 70 H'.'h 1.1 Vi 2,1 19 141 30?', 3(l! 83 31 30', 39Vi 13Vi H3!)i 48 llfiVi 113Vi 11.1ai 37 37 37 4 V 2BIJ, 23l .in in 80 31 in Vi 134 4- 23'li .. 73 .. 78 .. 94 71 5V 4- l.i Vi 2.1 10 111 38 31 Vi 81 Vi 1 25 37 4- Vi 40Vj 1 12'i 4- 144!' 4-1!!, 48 4-1 4-1 v"' .. .v.ku rifi SSiYirH'.&Ss y rirti, " " j"'J & NoUth" Ml? Sm Zinc 4 Lead. 14 A"o P.Q 1st PS. f.2 Assn Oil ;.,, Vi7" Atl Illrm fc At--- J? AtUn (oast Line. IT Ttlan O & W I Pf $ Paid Lwo Pt... 4U Halt i Ohio pref (. liarrett Co pf...l0n Jlatopllas Mlnlne. 1H Beth Steel ...... J2T Iirooklyn On Oas. 105 Ilrown. Shoe .... 71 nutterlck, ..... 10 Cal I'acklr.B Co.. 31 Cal I'etroleum . . . 121 Cent Leatner orf Col 4 t0 let Pf . M Cent Fdy Co.... 7 Sa'sTSS. v.i::i?fv Chl U A ton ... 11 Chi & Alt'"! Pf- 2.(V4 Cluett-Peabny pf.lJO,, Col b. So 1st tr. r.94 Col Ho 2d Vt.. 42 Vi Con O 11 I P.-IJS,, Cont Int Cal Mln. 17V4 Cont Carf Pt..... 07 Continental Ins.. 51Vt Crucible Steel pref h8 Cuba Am WJB";470 Cuba Am Si, Pf.102 Deere & Co pref,. 9.1 Del Lack tVf...lH.. IHn s tlo G Pf.- 'i's Hen IlloOr.,.. 6 Detroit i:dlson...l25, , i:io Stor Hal.... S8V4 Krle 2d pref.. .. 18 tlenerai Clear... 3Ji Oen Cliar uref.. 08 Oen Motors oref.7S tloodrlch P Pf..l00 Oranby Mln .... 7 (lull 8 Stl 1st pf.105 Hartman Corp .. 0? Havana, ,Ebo ...101 Homestake Mln .107H Inter IlirvKJ.. ijh Int Rarv N J pf.JlJ,W Int Nickel pref.. 103 Int Paper pf st. 6ui Iowa Central ... 4V4 low Cent pref. .101 Kan City Ho pf.. 43 Kellv-rJprlngneld.. 41 KeoK fc u m. . , 1..1,. Krle le W l.k Urle & WW.. 23 I.1 & M Tob.... 200 LlK ft MT pref.. 101 l.ehlh Valley ... MH Lon Isl cfs Pf.40 lrlllard. ....... J08 Ivtnla A Nash.... 118 Mackay Co ..... 7(H Ohio nV '.- 41 PClflr! Mali . . ! , Pan-Am Pet if fin Pan-Arn Pet' p'rUf Pere Marq nrir;- " Peoria tljas: " 4 3 VWvrcp:,,r( oui&i?1 cr.'is; Ileadlnfr 1st pf'.'". s.n gavjee Arms '.'.'. 8 Seaboard A L.. A I.lne of ... 18V. SC"Vn,mKic if 120 gha tuck Ariz ... Southern Ily pref. fi7: South P O hulrar l'l stand -Mllllnpt. 81 1-tandard Mill ;. '! Htutz Motor...: 37 U T-??JlPl l?1 "" TeJ'lpao'!.:.-. Third Ave ...... 17 Tidewater Oil ..205 Tohaccr. Prod pf () Transue-Wms ... 37 Ilnilerwnod Type., 00 Underwit Typo nf.Uaji I nlon I'ao nref.. nC iJn.."5 V. new- 81 United Drusr .... 34 Untd Dru 1st pf 50 lintd Drue art pf 75 United Dy, Wood United rKru'lt .'.'.' 117 VTnl,t.,.PaD.r " 1U Unite Ity Inv.... 11G U B Uxpress..., t U H Itealty Im pf 60 V H K L Jt pref ;. 441 " h nnt. .t ihtW Utah Sen Corp... 12 V..I... -V&. h7..i S .-&: Ch '-' ! m.w ..".-' ....,., weus-earco .... West Pao B R... WLul . r. v ka Whits Motor ... sS Wilson Co ., 4IVi Wilson Co nref... OK Woolwortn ....;ooTi Wooiwortb. pref. .118 U11 figar Stores.. 88 80.?i 88 Un Itwy Invest pf 14 14 14 U S Cas,t Ir P & V 12Vi 18V4 13V do pref 47 47 47 V 1 Vt 4- Y I U S Ind Alcohol.. 111!'. llOVi 114!4 3V4 U S Ind Alcohol pf 0.1 92 0.1 4-2Vi U S Itubber 53Vi 31 do 1st pref 9 96 IT S Smelt & net.. 4Vi 46Vi U S Steel . . 98V4 08 do pref loovi ion Utah Copper 79Vi 78 AVabash pref A... 41T4 41i do pref n 21 21 West Mary'and .. 11 14 do 2d pref 25!i, 3304 West Union Tel.. 88!i 83 Vcsttnebouse Mfg 30')4 38!, Wootworth HOVi 110 Wheel & L. E .... 10 10 Wilson ,.i Willys Overland.. 10Vi 18 do pref 70Vi 70 Wis Central 37 37V4 I Sales in Philadelphia llllh. IltillJO Cam Steel . . . . (Ton Trac N'J . . Klec StoraRO . . ,10 Oen Asphalt. 14!i so do pref. .. 02 10 Int M M prcf 07 ins Co N A. .. lOKennc Cop. . 33 Key Tel 2789 l.k Sup Corp 12 598 Lehigh Nav. 67 80 do war w t '. lOOLehlRh Vol.. K 0.11 Penna It. It. 47 30 Phlla Co cum pref 1.10 'Phlla i:iec. 141 P n T t o.. 200 lleaillni; .... 100 Ton Del .. 10 Ton Mln .. 85 U O I . . . . 4820 tT S Steel .. 50 XV .1 & S S 14 80 West Coal.. 70 loo Cramp & Sn 70 l!x dividend. Low, 31 25 3U 4!!i r.V4 98V4 II! 03 97 33 ii 50 BVi B5V4 itVi 31 31 0V4 73 3U t!i 09 90 II 7fl n Net Close, chie. 1, too tso 14! V B3 V 07 t21 33 4- V4 t0V4 12 4-1 r7 7V4 4- tiSVi 47 Vi 31 25 4-U4 27 ''. 72 IVs 3U l! 4- V 00 9V4 1T 41 V, 7 0 4- '. 11.307 i.liiirrs. (omp.ireH llli . I3.- 3 -harci jritenliljl thus far "'"'iil.'i:'. Totnl Hnle hlmrei humr period lust week, 40.009 Miare IIOMIS nuii. 82000 City 4s 1041 07 ftnn li.ten JL' Penn 71 71 .4 f r45V4 .- Low. 97 Clone 07 Net chpe, Tr 4s Inter Itys 4s Itool.tb Ilonds . 3',is 33.10 do 4s .... I.eh Val 4s 2003 I.e Val CI Bs . . 2000 Penna Co csl'.is'OO 08 do temp cts Pis .1100 Phlla P.'cc 1st 5s ... 0,1 P II & XV 4s . . lono Heading Ben 4s 83 3000 York Ilwy 1st Is ... 00 98.20 98.10 98.20 .30 O8.10 9J.no 08 .10 98 ' ' 9.1 too! 1 101 98 too 95 t07 83 85 4-2 00 00 Total sale. $20.4.10. compare. with M8.000 jeilerduyi thim Tor IhU week. 133,100l eume period lust eek. S2II.U30. Local Bid and Asked Today . Hid Ask Yfbtcrday mil American Stores ...... llrlll J O ft ' lluftalo & Suici t c... . . do pref Ilaldwln Ulectrli! StornKo . . . . lleneral Asphalt do prcf . . 1 KejHton.. Telephone... do t c T.al( h'uwrlor Corp.. I.ehlith Nnvlicatlon . Lchluli Valley IVnnevlvanla Philadelphia Illoctrlc. . l'hllaililphla Company. do 0 per cent tiref . . Philadelphia K T t c. Iti-adlni; Tonopaii Uelmont . . . Tonopnh Mining Union Traction Un (las Imp United Stales Steel. . . York Ilwy do pref Wra Cramp & Sons. . . . 30 111 .11 10 .111'. ti r.n ."' r,n 12'i 57 31 17'. 2.1 27'i 30 i lis 9H'i N 32 llU'i 31 IM 111 I .111 .nn; .VlV, J I! 10 113 12Vj "'"I 12 ll'.l l'1'l II 33 7n',a 30 111 nrt'-i 40'i 11 3D 0 H I'll) 114. Jllli 47's 27'i 30 ft isij ii4 H 32 Os'i rday Ask 31 20 no 30 37 311 as in 0.1 i JsVi 31 JH't 1 12 I','.) IHI'i Ii 33 70 inactive piiila. Stocks rollowlne are quotations for Inactive slocks listed on tho Philadelphia Stock Kx change and in which there wcro no trans actions today. Tho price given is tho latt previous close: Alllancn Ins .... 19 Amer (las 97 Am Oa War ... l',i Amer Mill 10 Am Stores '& Am Store pf ... U2 Hull ti fusi t o . KO Huff & Sustt pref .19 Key Tel pr ,,..61 Leu Val Trans .. 27 '.5 Leli Val Trans pf 3 J.lt Broe ...... ii' l.lttlo Schuylkill North Cent . . . p n t -', lty Co Oen .... JJ Un Cos of N J-.?0"" ij H Steel Pf....!":' York Itwy pref.. J SUBSTANTIAL ADVANCES ARE MADE x IN STOCK TRADING ON LOCAL 'CHANGE Ranirl Tpnnsif. flnpfifipntps. PhilnrlplnViia Pt..u T L- c..n,.,' -DmA TJJne nnic cjui -i C i I ojc kjupuiiui ivcluiu iB Mama oLuui vvommon Stronger After Drop as to what mlffhl be looked for . Impression was dulto general, M5,iJJ well-infonned circles, that further .'."l)r could be anticipated. " "'"W Lake Superior Corporation dev.t,. most netlvltv C 11,. I 1 1 ...'.".""OPeJ It noon and Its price was marked' v1'1?' I point, while Lclilirh Navlil- "? Ml unchanged and the company's ., "' ' a little lower. Fractional gain, !, ( .uiui-u ny 1 ciiiinyivunia itaiiroad tV Ilelmont, Tnnopah Mining, William i?w ' & Sons and United Oas Imnrov. m- 1 noadlng was oft 14. which u-.. F,.lr'.ni't loss of tho day, and West Jersey ind fn i There was only a modcrato turnover of stocks on the PlilladclpliU Stock Kxchange today, 'but good strength was shown by tho majority of the usual leaders, following uncertainty during the forenoon. Karly In the session United States Steel did very little and was lower by midday, with many of the home shnres Inclined to sag with it, But In the nfternoon Mm Steel Issues soared 1T4 points to 98 !J, and this brought a ready responso to other stocks. t)no of tho Interesting features was the strength of Philadelphia Klectrlc, which was higher throughout the session, and toward tho close had ndvanccd to 25, ox dividend, a net gain of more than a point, P.apld Tran< certificates also attracted considerable attention due to tho good Improvement yesterday and the Aemnnd to day which sent them up three-quarters to 27, with only a small number of transactions, Thero was much discussion snore dropped a half. General i.:I .' ,.' common nnd preferred wcro both sllivo lower ana Westmoreland Coal and p. 11 dclpbla Company cumulatlvo 'preferred 1 w ! unchanged. " ", The Liberty Bonds were not active k,.' ;1 both tho 3is and 4s were a trln !) - ,V,W 1 I n ALL TRADING GROUPS ON THE CURB SHOW INCREASED OUTSIDE INTEREST -M Mines Attract Most Attention Because of Aggressive! Buying of Magna, Which Leads Entire List. Motor Stocks Active NEW YOUK, Nov. 23 The strong tone was maintained .011 tho Curb, with all tlio trudlng groups con' tls-illtiw tn )! nnl lnntiAncnit nntulilii lutilfrttlfcj iiiill iu luiiVbl iuv.i;tiovuuuiniu luiv.i.nvu. fc ,. The mining croup attracted most attention becauso of the aggressive bujlnt of Mugum'. Tlio declaration of the regular dividend on the stock yesterday tU followed by scant offerings In today's trading, and tho stock led tho entire list In an upward movement, advancing from 40 to 45v4. " Other mining stocks were also strong, with Nixon Nevada selling at 1J lrj 1 7-16, Iluttc Copper nnd Zinc nt C'4 and 6V3, United Vcrdo Extension at 34, Emmi j Consolidated at V4, Mason Valley at 2 and 1?5, nnd Calumet and Jerome at 12. ! Gibson Copper sold at 225, u now high record, with buying accompanied by i published statements that shipments of hlgh-grado oro are being made at'thi ' rate of thirty tons u day, on which smelter returns net about $1000. Oil st6cks continued In demand nt advances, with Midwest selling at lit to 121, Houston at 21, Mcrrltt ut 2494 to 24U, and International I'etroleum at HU and 11. There was n wider market for the Industrials, with New York Transportation unusually active, reacting from yesterday's advance and selling at 18 to I84, Tho motor stocks wcro again actively trnded in, Chevrolet selling at l!2 t 68, and United Motors at llSU to 1""J. " ixni'STiti.M.s 1 iniiu'i:ni)i:xt on, stocks comis... V'l-dOM i lllll 'A .-. iVi lVi nn i .11 (in,-, Yest. .'lose Asl: (Sale) 61 .vn :!',. New York Bond Sales 70 711 'i as", 113 5'SVi 1 00 1 IflVi Ii 0V4 P). 10U !)', 70Vi 1 UTi. .. 21 Vh Hv'n .. 8391 .. 1391 -flVi 3V4 Vi 110 vi 10 Vi 1V6 10 1 tOVi Vi 37 .. Totnl kau-H, 521.20ft shares, fompartd with SOO.ftOO share jestfraayi ,thu far this wrrlc, S.OSI.KOO aharel same IxrloU last utrk, 2,331,. 300 klntrfs. Kx Dlvldtnd National I,ad pref. li de 1'asco, ltt i National Acme prcf, li. Cerro 7 . Logan Trust Enters Federal Reserve The Logan Trust Company today made application to tho Federal Iteservo Bank of Philadelphia for membership In tho Fed eral Reserve system. The Logan Truit Company has J5.000.000 deposits, and the Itobert Morris Trust Company, whose assets have Just been purchased by tho Logan Trust Company, has deposits of about Jl, 350,000. HUh JHiOU Amer Aur deli ."is.. . U3 u'iiihi Anelo-rrviich 5s l'H:' 111MI11 Amer 1'orelBn hoe 0s. Ul'4 irnoit Amer f molt & lief r.i sn' .'iiioii Amer Tel clt Is.... - 1.VI0 do .'is n:i loon Armour Co 4'n,,,, S.", 41101111 Ati hlson Ken 4s :i's loilll Atluli Co Line 1st Is K! L'llllil Halt & Ohio :Ha... .. Ml lllllO do cv 14 a Til', HIIIO llelli Steel 1st ."a lllll Td'4 noiiu llrook Hap Tr 5s 11US !HU L'limO llordeaux 0a S.Vj liliiu.i Can Oovt .'.a luail... Huh loon do r,a ltiai Dots 411011 cmil copper ,a.....ini IIOIMI Che & Ohio ev lvjs. 'JNOII I do COIIV ,'S .S0IMI Chl & Alton 3VaB. . 1 lliiiil Ch II & U Joint 4s jooo 1 do res Is riomi dn ill a '.i s 711 lliiiiO) Ch JI & S 1 rfd 4'js tlT'i iiiiii'i do conv .'.s TT'a lODil do cv IV-is Tll'a U'liiiii Ch It I & J rfd 4s... ilji, .'.-.(KiO Col & South 1st -Is.. K.V, Illiiio city of Turis Us sv,t aiiOOO Con (las conv Os.,,.1004 1(10 1 Cumberland Tel r,s... Iintj llliOO Den Ilia Or 4h... II3U moo Ills Seeur Corp .".s.. T." r.lion Krle conv 4s ser II.. Ill Joonn do 4s ker I 4.1 ISIM111 French llepuhllc .1i s H4, tUlMI MUD ft .lail Tli iM.. HOflO Intern Met 4Vis 44IHKI lnterb It T ret .1s... joonii Inter Jlcr Mar 0s... lllOIIO Japaneen 414 s annuo do new O S 4'as,. Soon do new IVi h ".'0(111 Kan City So 1st 3s. Ifioo do .la aomi I.ncka Steel As 10.10. ,11,1111 i.K nnore oen -js 1W-3 Ml'4 iiiioii uo 4s iu;fi U44 Jooo I.lBsett & Myers T Bs. dOV, JtllHI 1I.1 7a . 111 II.I.HXI l.llierl.v llolld 3Vss,., 1611,100 do 4s i'liioo I.vons tin IMOflo Marseilles lis 40(100 Mo Knn & T 1st 4s. U'llllil Met West of Chl lis. SHOO Mo I'ac W I, os 11)211. 5,-ofHi Mo l'nc Ben 4s IIIOII Nat Tubs ,1a 34000 N Y C & H lis I,oW '.IS HO', H4t MiV S'J OJ'.i s:, s:i'a S3 sil Till! Til', II IVs IliHi lid's lOOTs Til T3'i 3iS 113 V n:i Til HT'i "U TO' WV S3 S.T.. Close 1)3 00 t)4' SHIs US 1129s Mi sa'.i S3 Sll T!)S 711's 111', S3',i Ull'.Tl no's 10(1', 7s V,l!4 :isi H3's ll.'l TH 117 '4 TT'i 7tiv5 "-It 83Vs K3'i 100'i 100V4 !i"!s HOVs " 1 .-..I. K1 na ShS HHt, SHS 03 ii 'MU 1.1 111 VI ,13S TO!, f.3 i.i III ir. II41, r,i' .1:1 , Kl uj hNS SN', KSS Tit L'!! . nisi . S3! Til III)', Nllli II4! in? i"- 000 N Y City 4'-4s Nov 17 US', ii:i. 40(10 N Y N if & If (Is jooo N Y Tel Ben 4 Via... KionoN Y W C k 11 4ViS... inoo Norf it 'et 4s .... 341)1)1) Nor I'ac 4s loon do ceu 3s loon Ore Short L. 4 70110 Vaclflc Tel r.s., inoo Pacific Uas .Is 4000 l'enna Ben rt 4V4s... 7000 I'ere .Marquette ut... 11000 Ueadlnir Ken 4s 211000 at I, it S V alt Jl'000 do Ser A 3000 do Ser 11 1000 Ran A & A P 1st 4s, OSOOO Seaboard A U adj Ss. 110(1(1 South I'ac cvt 4s.... llinoo do rvt 5s (D'lO do rfd 4s 1 S3000 South Hwy een 4s,... r.ooo do ' (,000 Tesaa Co 0s '. . J;M(i0O V H Itubber Bs 1000 If H (lovt 3 11IO0O 11 S Steel B f Bs.... 13000 Union Pao 1st 4s.... S7000 do rfd Is S(Kii) U K of a II 4 I Bs.. RMMH) do M-4s 1A1H 'JH00O do BUs loll' 100000 do .Ws 11 new.. ;piioo do rti 121 S00O West Shore 4 BL- ss SHV4 sss CO 7(1 Kl) HII'J IH'I IIO'l 111 ihi.o.' ox.on 00 ON.20 U7.B8 07..1H X.I K.l'i N.i'.i km. S4; RSJ .14 l)'4 1)3", IIS?, 84 Sfli 41 K.I BS' Ksu 24 81 110 4 SIVs K.I r.Ds; .1.14 71 , 110 444 704 KB4 70S BK4 Se 08 704 on 084 88 78W 074 004 0.14 074 024 80 Aetna Explosives 9i sVm-Brit Mfjr Am Marconi Am AVrlt I'aper , Air rteductlon Canadian Car Co Can Car & Kdy prcf.. Charcoal Iron Chevrolet Motors u Cramp (in Curtlss Aeroplane 3T',4 Canven Tool H Carbon Steel 7.1 Kniorson I'honosraph . . ".' Federal Dyo .1 Hendee Mfg so lnter-I.ubo :i Kathodlon Ilronze prcf. . I Lake Torpedo tloat 3i I.ehlKh (.'oil Kales (1.1 Lima Loco 10 Maxim Munitions 9i Marlln Arms . . . . j so X Y Shipbuilding 30 Nor Amer 1'ap Pulp .... SVi Otis Klevator 40 Peerless Motor 13 Poolo KnR 30 Hodden Truck 1.1 Scrlpps-Booth 3 10 S H Kresge nv 1 S.V 70 Standard Motors 10 lOVi Submarine 13', 11 St Joseph Lead IB Id",', Todd Shipbuilding 8 7.1 Tiianule Film I Hi United Profit Kharlntr .'. . Vi Ii, . V S Steamship 3V'j 3'Ji .. Cnlted Motors 109(, 17 10 United Sucar 30 3.1 World's Film 9i 9i Wright-Martin Air 7 J4 7 79 Zinc Concent 1 2 STAM1AHU OIL STOCKS I'llnols 180 190 Ohio sun 20.1 291 Prairie Pipe .....233 290 237 Stand Oil of California. .218 iii Stand Oil of New Jersey. 608 .112 313 Stand Oil of New York.. 253 258 333 1.1 73 20 40 28 Vi 9 80 .191 10 28 3.i 1.1 v 8T 33 29i Id 1,1 70 113 lOVi 1SV4 IV. Mcrrltt Oil ... Midwest Oil .. Met Petrol ... Oklahoma Ttef Osape Hominy Illce OH Sapulpa lief . Sinclair United V'est Kid Ask (t,.l 21 2.1 SI4 1 ... .... .3 131 3-32 - 8 , II 13-3: 7 4 3-33 Oil., MINIMI STOCKS IS HI Ill 14 S-lt if INIIKI'KNHLNT OIL STOCKS Harnett Oil & Gas 1 Cosden & Co 7 V-i Klk Basln 7 Federal Oil a Inter Petrol 11 Houston Oil 33'Ji l'i 79i 7Vi 3V 12 24 4 t'.'i 3 249. 84 110 41 8.1 81", .184 834 WIS 8.1 504 5.14 714 Ill) 444 704 8(14 7114 ns! 'J4 n 70S on n4 7s; 074 1)04 1)54 1)84 024 80 .18 844 K8, 51 IHI4 Ii:i4 1)84 84 804 41 8.1 .184 8.1C 0H4 81 II11V "I 83 B.14 T14 r.o 44' 70 80 74 0-4 5: 08 704 no nn4 88 7S4 074 BD4 B.14 B8 04 80 Alaska Standard Atlanta Big Ledge Blhbeo Copper (a pros). Butte Copper & Zinc Butte New York ("ill & Jeromo Con Ariz Knuna Consolidated .... First National (Joldfleld Merger (loldlield Cons (loldlleld Florence (loldlield Kewanas Orcen Monster Hecla Mining Howe Sound Independence Lead Jerome Verde Jim Butler Jumbo Intension McICIuley Darragli . . . , Mai;ma Copper Magnate Copper Mother Lodo Mines Co of America.. Nevada Hills Nevada Wonder Niplsslng Ohio Copper P.ay Hercules Stewart San Toy Ton Kxteiihlon United Verde. V4 1 1 l'!i 3 41 10 8 V 49, 3i . 3 Ti 73 II CO 47V 30 I?i 8 IVi 79i It .1 7-32 10 33 .! 1.1 "".?'' S 9 t 1 li s .. ' r, , !, 1 .; '.4 iv Ms s 4 . 4 s',i ' ffV .1 14 43 . 4t . 13 8 i 44 31i West ICnd Con (13 White Oaks 3 White Caps ,.., 91 Yerlugtou 11 1IOMIH Bethlehem us 1)7 U Cosden Oil 6s 78 Cosden & Co 6s 78 Cudahy os 91 Ilusslan Government CVis 50 Ilusslan Government) 6 Vis 82 Southern Hallway Gs.... 90 Sinclair OI' Cs 93 Todd Shipbuilding 6s ... 9 (t II 80 16 63 17",4 31 ., 13 m 8 I 34 VI 12 l'i 34 CD "v, 13 44' 34 3 II ii'. i4 31 IK 61 07V4 .. 83 82 07 33 41 01 61 1 96V4 101 Total sales, 4.(88.000, eomparejl with U.A21.. 000 yesK-rduv: thus far I n"';li. S23.711.000i iame period Ist week. 10.211.ooo. l-AUTNKKHllll'S RAILROAD EARNINGS CHICAOO CHEAT WK8TEP.N 1017 8econd week November.. , I88J.404 Trora January 1 14,317,931' Increase IT.nsi 280,380 Refined Sugars Unchanged NEW YORK, Nov. 23. Refined sugars unchanged with the American, National, and Pennsylvania, companies quoting at MITICK 1H HKKEIIY OIVEN THAT THE underslined have entered Into a. limited part nership under the a" pf Assembly dated April 13, 117. upon the followlnir terms; 1. The name or the firm under; which the partnership Is to be conducted shall ba retry. "sThe nature of the business to be transacted shall be dealing- In stocks, bonds and Invest ment securities, .3. The following are the names of the sen- "lVwIerir'k'i. 1'etrr, Latisdoirne. Penna. It. II. Bi'sh Toland. whltem.rsh. l'enna, Haoiuel Weiss. 3313 N. 83d St.. I'hila. and the special partner 1st Howanl Lonrstreth. IUverfoirt. Penna. 4. The amount of capital conUibuted by the anrclsl partner is as follows! Howard Longstreth. Fifty thousand dollars B.' The' period at which the partnership Is to commence Is November 20. 1017. and the period at which said partnership shall terminate is November 20, WfeDEHICK J PETHT. 0JLUUE& VKIB8. niuni Si assistant treasurer of the Philadelphia of- iticsay Co pref. 68 Worth V M... M 11.310. Tno Federal ana tno Warner Cora-1 BAMUEL WEISS, 11.1. law, was elected a director to succeed E4-J wnh,nh1 Sfift.?ir 5L PmIm and. Arbuckle Brothers contlnua' ' . mUM S&ffii Pmr ,-V; i . jj&.i " ,w-kr'- . - jtV.' i-&i"WffwW fe t rVsitSatiiX -. v -'-iv '-; j ' -il- -- n .. - .. X - r Mlf '" C - - ' "? ffc4i- W 'J? jF'SaXSi-&-iJ i hiii - -"--" -' - - ' f-'V -;ir m -w" 'Vi Yum'mmKttlii HHflEsBsBL'Nrf '" ZMsfsTi. '"riiieW i4arjsa . ? J t & 1 v iHp iMjtuJUBAjL?' ',? 4$. .tMAtiUEKlR3BKmmnji a. bbLB SkJssBssflBiBBLJHRJIsfJHEiiflbBisikMslHBflHiiHi sWsMtssMT l' t tsl 1 ifl . ssrisjj,A.jat.aM..tsiil.jta..f .-.ijl.VMaisMHatafst.lsaassfMiilIlM CONDENSED STATEMENT Logan Trust Company of Philadelphia At the close of business November 22, 1917 ASSETS Securities Loans (Time and Demand) Real Estate and Vaults Due from Banks and Cash Miscellaneous Assets LIABILITIES Capital Surplus and Undivided Profits Ground Rents Miscellaneous Liabilities Deposits Individual Trust Funds . .. Corporate Trusts ( t . $3,395,443.71 . 2,268,097.84 . 1,104,163.15 . 611,207.11 61,589.23 $7,440,501.04 .$1,000,000.00 . 498,911.79 . 670,000.00 . 259,017.73 . 5,012,571.52 $7,440,501.04 .$1,330,983.82 .49,000,000.00 1st Vice President, HUGH McILVAIN 2d Vice President, Trust Officer and Treasurer, WILLIAM BRADWAY Secretary and Asst. Treasurer, JOHN H. WOOD OFFICERS , President, ltOWLAND COIMLY Assistant Trust Officer, ALFRED G. WHITE Assistant Treasurer, S. HARVEY THOMAS, Jr. Assistant Treasurer, GEORG-E W. BROWN, Jr. J. Gibson McIIvain David L. Lukens Charles M. Biddle Frank H. Wood Hugh Mclivaia '...iwsfv Assistant Treasurer, HARLEY T. McDERMOTT DIRECTORS Walter H. Lippincott Edmund Webster Charles Major E. Lawrence Fell Rowland Cemljr William Brady George M. Bunting Walter Clothier Alfred H. Lippincott Walter SMedley ' A k'V-: .j 'V'ti ' : jat'p.'aiis