,w1
&.
1
EVENING -LEb'GIiiR-PHlLADIilCPHIA, . WEIflKESP AY, ''NO VEMBEB 28, 1917,
';t-v
'
r-i
&1
I'"u" ' "111
H
SHORT TERM ISSUES
RAILROAD EQUIPMENTS
DUE 1919 TO 1921
TO NET FROM 8.75 TO 6.25V.
PUBLIC UTILITIES
DUE 1918 & 1919
TO NET FROM 6 TO 7.75.
DETAILED OFFERINGS
ON REQUEST
REILLY, BROCK & CO.
BANKERS
3C6 CHESTNUT STREET
rmi..Mii:i.riii.
Tax Examples
Showing how law it applied
Our Federal Tax Dejjart-
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 in' iciduah, partner
ships and corporation with
a practical working knowl
edge of the application of
the Law.
A copy of this pamphlet FIM4A.
wilt be furnished upon request.
The National City
Company
1421 Chestnut St., Philadelphia
l hit-a rfo w l-rancisco
Piltlburth
New Voi k
Boston
el
t
Help Meet
the New
Cost of Living
by having your savings
placed where they will
oroduce the best possible
'I'come for you. The cost
of living has advanced, but
?o have the returns from
Dractically all of the good
investments.
Write for our suggestions, how
to increase your income.
A. B. Leach & Co.
&
Incorporate!
115 South Fourth Street
CAPITAL
WANTED
Hroker o r investor
wanted to finance cor
poration f o rm iiiR to
take over established
automobile distributor
agency. 50,000 re
quired. Details ar
ranged to suit investors.
C 30S, Ledger Office
FINANCIAL NEWS-NEW YORK AND PHIL AQELPHIA STOCK MARKET QUOTATIQ
NEW YORK EXCHANGE SCRUTINY
CHECKS OPERATIONS OF BEARS
Railroad and Coal Shares Suffer From Pressure,
but Many Important Issues Respond to
Automatic Rally After Decline
High Points in Today's Financial icws
The Arm York stock market was subjected to bearish influences, but the
Uxchangc's suruttnu prevented vicious taids. Most leaders rallied following
their decline. Curb trading was without interest. Corn and cotton were lower.
Lire was lower in foreign exchange market.. 12. I. du Vnut de Xenwrs f Co.
declared n special dividend of 3! per cent. payable in Libert U Bonds, in addition
to rcuular quarterly of i"4 per cent on the common stock, liar silver was un
changed In Xcw York and London.
NM-:W VOllK, Nov. 2S.
The Mod; market was subjected to bearish Inllucnco today, but bear opera
tions were subjected to the lestralnt or Hip Ptock KxchnnKO scrutiny, nnd. on
that account, those endeavoring to force trices to lower levels did not dnrc
to make their operations assume the cliniacler of vicious raids and attacks
which had marked dealliifis for sliott account up-to a couple of weeks hro. An
uptown speculative element offered stocks nt concessions In the early trading,
causing some issues to .ell at the lowest prices reached in a. long period.
Among these were Baltimore and Ohio, which yielded about 1 point, selling
below GO. and at the ame time Northern Pacific and Orcat Northern preferred
were pressed on the market at declining figures, the bear pressure later extend
ing to the coal stocks, with Delaware and Hudson declining to the greatest
extent In this group, selling at S2U, and Lehigh Valley declining to 53.
The low levels In these and many other Issues were followed by what could
be termed an automatic rally, which brought the Reneral range of urlccs of tln
Important slocks back to near the lange prevailing at the clo.se yesterda. The
room traders as a rule were bearisli In their maiket position and exerted much
effort to foicn further declines, but sales by this element were more than offset
by continued Investment and cash buying, which is furnishing supporting '
power to the maiket of the highest Importance.
Business was generally small In volume, but this was considered natural in
view of the fact that the market was on a prehollday basis.
There was a generally steady tone to the bond market, with foreign Govern
ment bonds In fairly good demand. Liberty 3s. after advancing to 99.12.
jielded to 9S.96. The 4s were traded in at 97.9S to 97.96.
Barnelt Oil & Gas Company
Producer Refiner Distributor
Ueflwrj of 2tuo barrels daily capacity.
1011 Tank cars.
Omii I'lpo Line from wells to railroad.
D.strlhutlnt: stations
Placed m iunrterl dividend basis,
l'ayabli' Jan lnth 3"i and 3 extra.
1'aM 31 ilMdi-nd last ear
Aclhe daily lnarkt (at around Jl'a).
WK ll .NOT CIIAKliK iiKOKi:it.ui;
UN II I KNOTT
E. H. CLARKE
MOKTIIV It. AI.KXANIlKIt
nesldrnt Tanner)
I'lmne 111!) pruce
Moil. Kwlunse Uldc. Phlla., Pa.
27 William Si New York City.
WESTMOKKLAN I) M EIU.KK PLANS
President Hutchinson Says Directors
Sec Economy in Change
The merger agreement b. whvli the
Westinnrelnncl foal Company will ahimrb
the I'cnti Ins foal Coinpanv and the Manor
lias Coal -omian. two subsidiaries, pin
vtilerl tlie stockholders of the Westmore
land Company ote favorably on the prop
osition at the speelnl meeting ecember 11.
provides J10.000.000 authorised capital
stool, for the new company, of which...
-,00 00ft l.s to be Issued at once, hhare-hold-rs
of the present company will receive
i, shares for each share now held the
amount of stork outstanding at this time
being jfi.000.n00.
resident P. Peml.erton Uutchln.un. in
a letter to stockholders, dltcuses details
as follOAS' . ,,,.
Westmoreland foal Company is the
owner of all the capital stock of Penn 7as
foal fompany and with Pcnn Oas oa
company Is the owner of all the capital
stock of Manor Oas foal fompany. The
operations of the Penn Oas foal Company
nnd Manor Oas fcil fompany have been
conducted by separate organizations under
the management of Westmoreland foal
fompany. The directors of your company,
after er careful consideration. hae
reached the concluson that cltlclcncy of
operation and economy of management and
operation will be advanced and secured by
a unitv of oigaiilzatcii. operation and con
trol, ainl htroncly recommend to the share
holders the approval of the agreement.
Thp rnrnoratlon to be formed by
consolidation and merger will be entitled
Westmoreland foal fompany.' and will
retain all the propery. rights, privileges
and franchises now of the present West
moreland Coal fompany. and acquire all
the property, rights and franchises of Penn
lias foal fompany and Manor Oas t'oal
fompany; the capitalization of the com
pany will be yn million dollars (510,
OipO.OOO). representing a consenatlxe valu
ation of the property and assets of the three
companies. There will be Issued to the
shareholders of the Westmoreland foal
fompany to represent their interests In the
capital of the new company one and a
quarter O'i) shares of the new company
for each one (1) share held by them, the
balance of the authorized full-paid capital
stock of the new company to be Issued us
the directors shall from time to time here
after determine.
"I'pun the agreement becoming effective
the shareholders will receive due notice
to present their certificates of stock at
the ofllre of the company for the purpose
of exchanging them for certificates for
shares of the new company, upon the basis
above stated."
Local Bid and Asked
J
Amerunn Slmes
Hrlll. JO . .
Hurt 4 Hus'i i c.
dn nref . . .
I.aldwln
Klectrlc Storage . . .
Ueneral Asphalt . . . .
tin pref
Ke stone Tele
rte tc
l.akp Sup Cnrp ... .
I.ohlf h Navigation
l.rhluh Valli-j
ppnnivhanla . .
I'hlla Klertric .. .
Philadelphia Company
do 1 p v prcf . . .
Phila tl T t
Iteadlne
Tonopah Itelmoiit . .
Tonnpali Mlnlnc .
Tnlnn Traction .
r o i
f S Steel
York Hallway
do prrf
Wm Cramp . .sons .
Tenia
Hid .k
an
Kl
III
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HI 17
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iii r.n'
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all VJ
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DIVIDENDS DECLARED
Federal Sucr Ufllninff Company. rr-?ular
quarterly of 1 1r ront on mmmon, riable
lJfrnibr 1." to tok of ronnl Iicrpmbor .
Frcport (Ja f'mnpatn. rocular ounrlerly of
IS nr nt nn nrfrt') patabl Urcernber 1
to stock of roforil Novmbr 27,
Scott rapr oinpanv. a dlvinpna of 1
cnt on I'onitnoi). p.iynblo Dcr-ember 1
Chlraei Dm-k Ann Canal Company, nuartorlv
of 2 P"r cf nt, p.tyable December 1 to stock
of record November 30.
Vnlt'l Mat Str-nmshtp Companv regular
bimonthly of 1 per nt and uual extra of
of 1 pr ent. pav-ibl January 'J to ntock of
record I)cember I".
fhlMw Cninnani. rfrii1ar niKrUrln - 1.1 u.
the ' rent on preferred and Pi per rent on common.
payai.ienecemi.er in to stock of rciord No-
ember 3n
Delaware, l.ackauanna and Western Uall
rcad Compan. regular extra annual of in per
r;nt. paable December L"J to btocl; of record
December 1
Nlarara Kallt Power Comp.-uu. ueual ouar
terly of i a share, pajald.- January IS to
stork of record December .11
Plerce-Arrow Mt.lorrar fnmnunv. recular
ouarterlv of 2 per cjnt on preferred payable
January 1 to jtock of record December 1 1
ChlcaRo Telephone Company, rritular fiuar'terly
of .J a share
H. I du I'ont de Nemours Fowder Comnanv
reKular quarterl;; of m, per cent on common
and 14 per cent on preferred, pavable Febru
ary 1 to stock of record January 21.
INACTIVE NEW YOHK STOCKS
Following are quotations for Inactive
New York stocks and In which there were no
transactions today. The price given Is the
last previous sal.
i n a P clfe. lrVJ M si n r. ts o . ,.
A B ft S F cts of 10J MStPi38M "nref 117
A R A S F pf...11SH Mont Pner '' liB,:
Jlont Power pf. .mi
K'e . SllU,
m
Accounting Executive
An unesual opportunity now exists to
secure the services of an accounting and
financial executive, a recent official of
one of the larRtst industrial corporations
In the city, where, his compensation was
Sf.000 per annum. A man of broad ex
perience, stroriff personality and enjoylm;
the, friendship and esteem of all previous
business c-nnntctlons. Fully conversant
with modern business procedure and
accustomed to solving dltllcult problems
of finance und organization. For Inter
view address
C 133. JXIIfiKR OI'FICK
.MONEY-LENDING HATES
Ni;W VOKK Money on call opened at
" per cent ; high, 4 ; low, 3 ; last, :i ; closed,
S'-fH; ruling rate 3Vi per cent. .
What inquiry thcro Is covers three and
four months, and the quotations are 5y85ji
55 per cent. Nominal figures on good
mixed collateral loans are B',iifB5',i per
cent.
Prime bank acceptances are quoted at 4
34 per cent for cllslbles and 5 5? 4 per cent
for noncllglbles.
I'HII.AIini.l'HIA Call. 5 per cent:
time. SfTB'i per cent. Commercial paper,
three to four months. B'iBo1- per cent:
Elx months, 5'-!'iijsi per cent.
LONDON Money on call was unchanged
today at 4 per cent. The rate of discount
In the open market for short hills was 4i
per cent, and for three months bills was
ii per cent unchanged, De Beers closed
at 12 , and Ttand-Mlnes at 3.
Adams Knre. . .Its
Irit-.nf. Riimlnv. . 12
Advance Rum of 214
Ala Riibb
Alaska
aiiIn rtv
Am At rhem.. 7j
Am Ar Oem rf
Morris A
p-,bbR.Urm.?f SS N'.,rr,A"cmeI;,S'' JJ
!
"' Kn A Sto bf 04
al Lead sref. innu.
Am rfr r pClJiti Nt nn M-r Yst pf'i'r
Am Express .... AS Nt riR Mex pf 40
Am Ice rt Nt R R Max 2d if s"
Am Ice Sec .... 10 ,' O Tex ft J?xPt "n '
aim ivirn ni .. i r v n ci. -..
S V riick 1 1 tZ
Am Tirn Of
1 . Mall wa.t 1Q H st. .".
Am Smlt praf A 2 K'orf & South!
Arvs Qmr Tl .. Oft V .. '.M,,,t
"'. "- -;; " "t
21i
I . fi nrf f. TTT..t sn,i."
AmSurar pref. .IJisH orf & Wait" if! 7s?
Am ffiimatra or. North American 4R
nI1.rJl,iV,l- SS,. Oh Fuel ".."' JH
Arrl T T 8d pf . I34 Ohio Oas rti. .. 63
Am Tnb rt new. P Owens Dottle, .. lou
Am Woolen nref . . M r.acifle Ma II . . S i J
Am Zinc & Lead 14 x-n.Am Pet pf.. 00
Am 7. b L pret. . 424 i-an-Am Pet prior
viv'iiril I'.Vi ii r' jviarqueitft. .
A.v "J1?1 .",' .;. K K?r;..M"i.prt.. !
. ,n,. i--j."." . '-.., rmrift si r.asr
j ;
I rf ilftU usii. f-
BsM .Loco nt... B4W pierce. V.-re'iv!
Allan
Rait b Ohio pref .
k
DIVIDFUS'DS
0.
TIIK I.KIIIIill COAL AND NAVKIATKIN
Phlladelnhia. Oct .4 1U1T
Dhldend No. IAD.
The Hoard or Managers this day declared a
Quarterly dividend of two per rent 11.00 per
itharei on the capital Mock of the company,
payable. Notrmlier 30. 1M. to stockhotdera mh
reitisteriHl oa the liooka of the company 3
n'cloek p. PL. October 31. 11117 Chocks will m
mailed to stockholders who Iiuvm tiled perma
nent dividend orders,
HKNUV If PRANK.
Secretary
OFFICE OF TIIK C. II. OKIHT COMIMNY
LtNU TITLK IIUILIIINIl
Philadelphia, Pa.. November 27. 1017.
The. Directors of FreebOrt Oau C'omoany haiA
this day declared a recular quarterly dividend
of one and one-half per cent 111.30 per share)
ou tbe preferred stock of the Company outstand-
-V tns. payable December 1, 1017, to holders of
?A said stock of record at the close of business
Sfe O. II. WUAK. Uecretary.
SCOTT I'Al'KK COMPANY. rillUtDKLI'IIIA
i.,. At a mcatlnir of the Hoard of Directors of the
Hcott Paper Co. held on November ("Jd. 1U17.
thera was declared a dividend of It, payable
Mr fla. ... ml.'- ran t ha mltatnndlnir cimmmi
,; ' 'atock of tb company. Wm. . Ilogers, Treas.
fc-"f, ,rT ' TUK AilKKICAN OAH COJII'ANY
E, ini flaatt-akft U.ut
FOREIGN EXCHANGE
XKW YOniv, Nov. 28. The foreign ex.
change market in the early dealings today
failed to how any particular animation,
'fhe features were a recession in lire, from
the best flirures of Tuesday's recovery, and
un easing In the French exchange. Other
wise, the market failed to call for special
comment :
Quotations were :
Demand sterling 4.75 A, cables 4.76 ft,
sixty-day bills, nominally, 4.714.71,
ninety-day blUu 4. 69'i ($4.691.3.,
Franc cables 5.7V!'j, checks fc.'t'.i.
Lire cables 8.18, checks 8.20.
.Swiss cables 4.3S, checks 4.37.
Cuilder cables 44 'a. checks 44
Pesetas cables 23.70, checks 23.02.
Iluble cables 13'ij, checks 12'i.
.Stockholm cables 46 i, checks 36.
t'hilstianla cables 33. checks 321
Copenhagen cables 33 U, checks 33.
ill
n. rr.lt (n nr 101
Ratoollas Mlnlnir. 1
n.th Rleet . . . .
Prooklyn Un Ols.lJS
Brown wnoe .... ti
nnttrirti 1A
r.l Parlflna- Co.. 3t
Col A Ho lt Pf. 50
Cent Fdy Co. . ,' 2T
Cent Leather nf . 101
Cent 8 Am Tel.,lllU
rhl ft Altoi. ... 11.,
Chi A Ai'n pf. 2SH
"3
so
,-,-rrr. arrow or. ni
Pitta Coal nref... Sn
;' Puts A West pref
Pressed stl Car. . Kr,;
IV Olllcl(l,1lv.r 1
Rv Stl Sprlnc... 41
Readlna- 1st rf... S5
Readln-r 2d pref.. 3
Ren IAS prtf.. Is
Saxon Motor .... r,K
Rt J, A q F pref. iii
rsi & N w nref 14 neaooara A L ., av
Ciu'eft.ft.abwpf .Ho fc". pitbJi r,'y
So A I? "d'rff 42? g'nvSh"r,8 l- fx
Con a V. L A P.. ins Southern Rw . . . rts
CoSt '!nt C.I Jilt. '. MV, gjjnj Mlllln pt. So
Cont Can pf BT gtandaM Mill ... S3
Contlnsntsl Ins.. BIH ","t?'otor .... ST
Corn Prod pref... OH", gup flteel 1st pf.ino
Cniclbla Steal nref M Texas Co rts ... 10Vi
''uba Am ifli-..170 J" A Pao ...... 12
c.iba Am it Df.lM TM.vater Oil ...203
Dcero Co o f. Pn Tarwcra Trod pf, 91 .
Dili ft rtlo (i or . MH T St 1. W 7U
Den A Rio ar. . . . T Rt I, A w rtf sft
Detroit i;discn.,.12 X st t.w l1'" so
ciieo olOr HI, t MSJ iii--t,imi .,, at
aaw nnn.rwnfifi i
New York Stock Sales
lllxli
214
ion
37
Low
S'i
ffl',4
744
3d
0(1
flV4
AS
33 ?
13
.IX
1V
no'.i
3314
ini
7U
I02H loiti IOIVi M
39 10"i t
37 n i se,4 IV4
97 'a 97 97 I
I0IP4 I0!J 108H ',4
13
JB
37 i
K3
81
118
31V4
ID 'j
no',
79V4
97'
tl
111
1714
12'. 4
371i
I3ti 134
Alaska Gold M. ..
Allls-Chalmcrs Co.
Am Beet Sugar . .
Am Can
do pref 08
Am C & F Co... B
Am Int Coip A3
Am Cotton Oil . . 26-s;
Am Hide & Leatli. II
do pref ....... 38
Am Linseed ','4 ',.
do pref 71
Am Locomotive . . A4
Am Malt 13 !4
Am Smelting fl"'i
do pref , . .
Am Sum Tob
Am Steel Fdry
Am Sugar . .
Am Tel & Tel
Am Wool 43
Am Writ Pap pf. 2fl
Anaconda SH-H
Atchlsoi 8314
do prcf 81
Atl lulf & W 1 . . . 119
llald Loco Co . . . A.VIi
Halt & Ohio .... A0i
Ilarrett Co lil'.i,
Beth Steel H 81 U
do pref t c 9HU
Uroolc Pap Tr 4 17.,
Hums Uro. 113',
lluttc & Sup Cop . 1714
Cal Petroleum ... 1514
tio prer a.-'i
Canadian Pac
Cent Leather .... 7 '
Cerio de Pasco... 3014 3014
Chandler Motors., (lfi nini
Clics ri Ohio 48 17
Chi lit West .... 7 7
do pref 20U soli
CM & si P 37a; 3B
do pref 7414 73U
Chi & N W 9114 93 '4
c n I & P t c I1 I8U
do 1; p c pf t c. . l'."-i 4J
do T p C Pf t C. . 3la rtl'i
Chill Copper I.'.la lAt
Chlno Con Cop. .. 45 4 Iii
Col Fuel & Iron . . . as 33
Cr.l Oas & nice... 3l"a 3ia;
Consol Oas so H3!i
Cont Can 97 00
.Corn Products . . . '19 1li
Crucible Steel . . AO'.i A3
Cuba Cane Sugar. 29TH 29
do prcf 781, 7811
r 1. &- W . f. .187 187
Dome Mines . ... OIA 0i
Distillers Secur .. 331, 3I"m
Kile "Ts n
do 1st pref. . . '!! --
OnKion Williams.. 3314 3IT
Oen Klcctrical Co 128 12014 137
General Motors.. 91 8814 H1!
do pref 73 73
Ooodrlch B F. . SB! 3014
Or North pref . . onu 891A
Or North Ore subs 3714 27
Oulf State Steel.. 88 88
Inspiration Cop .. 4414 1314
Interh-Cons Corp. 71i 7',i
do pref 13 41
Int Ilarv of N J.. 10714 107V4
Net
Close inn
314 U
114 V
74H fi
30 i
96 Va
no
S3 1
28i 1U
13?i V
nx ..
24T4 14
71 3V4
8314 1
131i 11-i
1SV tl
1
I
14
43
28
37 1i
83
82
98 1i
3314 14
-1014 Hi
90 li Hi
80i ..
98 -1- U
4114 li
11414 H
1714
1214 '.4
37 li Hi
13114 14
BfllA, T4
3014 - 14
00 4- '4
47Vi 14
20li V,
30 li I
73 li 114
91 1
181i ..
42 U
Alii 114
ISli '4
III, 14
33 1
3114 T4
80 4- li
97
28H li
BSli li
391i 11
7814 14
187 3
on ,
31 ",
14 M
32 1
3114 3T4
T
Int Mer Marine .. 24 li
do pref 9flli
Interna Paper ... 31,
Inter Nickel 27
Kansas City Soutli 171i
237,
94 V4
SOI
281i
171i,
42
33
8014
S3li
'.a
2i
73 14
3014 la
894 74
27 r
88 1
4314 14
71i ..
41 1
10714 14
34
9S14
li
14
J4
14
1
54
V
-Hi
2fl1i
171i
42
3314
801',
3314
11814 11814 Hi
9974 100 14
2414 33 4- 14
33 33 .
18 1Va
89 -) 14
'4314 14
3274 H4
3914 H4
03 14
23 74
37T4 1.4
1314 14
1714 14
1074
7914
43
2274
39
93
23
3714
43
17!i
109'i, 10974 H4
Kelly-Spring ... 42
Kennerott Copper, 33 Vi
Lack Steel 8114
Lehigh Valley 31
Loul & Nash.. .1101',
Manhat LI ... . 100
Max Motor . . . . 2614
do 1st pref . . .. AS
do 2d pref .... 19
Mex Petrol 80
Mldvale 14
Missouri Pac 23
do pref 40
National Bis ... . 9314
Nat Ccn & Cable. 2 Hi
Nat Knam & Stpd 3814
National Lead . .. 13
Nevada Con Cop.. 171i
N Y Air Brake. . . I09i,
New Yorf: Cent. . . 70
N Y N II & II.. 37
N Y Out & W ... 19"i
Northern Pacific, 84
Ohio Oas 38
Penna P. P. 4614
Pero Marquette wl 1414
Philadelphia Co... 27
Pitts Coal 41
Pierce-Arrow .... 33
Pub Serv Cor N J. 109
Pullman Pal Car. 133
Quicksilver Vi
do pref
nay Con Copper.. 2214
Pending 70
nep Iron & Steel.. 78
do pref 9314
noynl Dutch .... 701(,
St I. S F w I 1314
Sears Hoebuck ..140
Schattuck Ariz ... 19
Sinclair Oil 3Hi
Southern Pacific .. 82T4
Sth Poro Pico Sug.lSO
Southern n n .... 24
do pref 87
Superior Steel .... 3fl4
Studebaker 45
Tenn Cop & Chem. 134
Texas Com 143
Tobacco Prod .... 83
Twin City R T ... 8974
Union Pacific 114 113T4 114V4
United Alloy Steel. 38 38 3...
United Cigar Sto.. 03 00V4 01 Y
118 118 118
13 Vi 1294 '.4
112 111 111 1
63 62 82
48 48 48
07U 08 07 4
I Sales in Philadelphia
Low,
03
4074
High,
7 Am Oas ... 08
30 Bait & Ohio. 80
Buff & S pf. ..
Brill .10
23, Kiec Storage 60
200 Erie 14 94
Ins Co N A . . .
843 Lie Sup Corp 12
238 Lehigh Nav. so 14
003 do war w I 7
90Leh Valley.. 84
87 Penna lllL. 46
Thlla Co
lis do cum pt. 30
MSPhlla Klcc .. 3.1
30 P nT tf ctfs 38
23 Phlla Trac. 68
10 ncadlng .. .70
Tonopah Bel. . .
Union Trac. .
331 U G I 67
3330 U S Steel. .. 9714
20 War I & S.. 8
West Coal . . . .
Ex dividend. , ,
IQuotatlon given Is yesterday s close.
Total sales. 0906 shares, compared with 10.J70
shares je.terilnyi thus far this week. 31.88.1
shares! anme period Inst week. 21, .30 snares.
Net
dure.
14
Vet
Close. che.
98 274
4974 T4
4o ..
10 ..
80
14 "4
24 ..
12
67 V
074 V4
84 1
46 H
28
SO 80 V4
1814 3Vi
28 28'..
68 88 . .
50 70
81
41 .. .
87
9214 314
8 ..
77 ..
SO
14
ii'i
38
8
31
46
87
9314
8
nn.vns
lllch. Low, Close.
$2800 Alll C & 12 BS 88 8.1 8,1
2000 Bald Loco
1st Bs.... 9014 90 !)9
AOflO niec fc Peop
Tr 4S 73 73 73
1000 I.eh Nav ens
414s 93 98 95
3000 Liberty Bond
3'iH .... 08.20 98.20 98.20
6600 dots 98.10 97.90 08
.20
BOO Nt Prop 4-Gs 42
3000 Penn Co tern
cts 4 Us.. 0114
3100 Phlla Klcc
1st Es.... 9.714
1000 Span-Am 6s 0914
42
43
9114 9H4 1U
93
9914
93
0914 ',4
Total snles. J29.S0O. compared with 505.630
.re ..tenia) I thus fnr this week, I23,3j0i same
period last week 31.I80.
INACTIVE PHILA. STOCKS
Following are quotations for Inactive
stocks listed on the Philadelphia Stock Ex
change and In which there were no trans
actions today. The price given Is tho last
previous close:
Alliance Ins ....
Am Oas War ...
Amer Mill ..,,.
Am Stores
Am Rlores pf , , .
Huff A Pino, t c .
Cam Steel
Con Trae N J. . .
On Aephalt.. ..
Sen Asphalt pref
Key Tel pf ....
Leh Val Trans ..
19
m
10
S2
92
SO
118
07
5$
D1
t.eh Val Trans pf J8
I.tt Bros .... rjV.
Little Schuylkill. $
North Cent .... JT
Penna Salt ... "H
p ft T . ..... -A
Ilwy Co Oen .... 414
Tonopah Mlnlnir. . A.,
Un Cos of N J.. 20014
V 3 Steel Pf....l09
Wm Cramp 6SH
2714 W Jer . SS.
41
New York Bond Sales
ONLY SMALL TURNOVER OF SHARES
OCUUKS UJN L.UUAL STOCK EXCHANGE
Price Changes Are to Lower Levels, With' United ?f t 4
uitv" xAHiau a.xa "vium aim western
Net Decreases
Only limited stock transaction toolt place
on tho Philadelphia Exchange during to
day's session and, whllo the market showed
an Irregular tendency, the majority of
changes were to lower levels. Lake Su
perior Corporation, Lehigh Navigation
stock Rnd warrants nnd Pennsylvania Pall
road made up the bulk of tho business1
outside of United States Steel common. Tho
Superior shares were off a fraction at llfi.
ft quarter gain was recorded by Lehigh
Navigation stock, while tho warrants were
unchanged, and Pennsylvania advanced a
fraction. Other railroad Issues wero Inac
tive, but lower, Lehigh Valley declining a
full point, Heading . nnd Krlo a fraction.
Steel developed weakness after sellinp;
higher, declining from 97i; to as low as
9214, at which level It was off more than
three points, ex dividend. But it rallied
a little before the close.
Ulectrlc Storage Battery was firm nt BO,
Philadelphia Electric gained a fraction and
United Gas Improvement lost half a point.
American Gas was off nearly three points
on a small transaction nv.,,.,.. ..
pany cumulative preferred c. ph Cob-'
Philadelphia TractlSn ar,d '$ Sii
trie wero unchanged. ' m HeJ '
Tho statement of carnlnc of iu. . J
and Western Hallway """ ocl0n,8 ,.Xo4'
came out today, showed nn in. r lcK
034.00D to 18.300.33 "JrS,L,rV
iu.ciiuo ana a gain of J2" 7a? i ,JU"U
operating rcenue. Tncr7.. ... 'n 'ne-tril
operating expenses resulted In , J" ,I
of $136,202 to I.390,87B n,u.dMli
operatlng Income, And the net l? ri"fl
all sources was lotver alo m' l
For tho ten months the' gross at,. . f
ncreaso and the net a. ri.o!2" hoM u3
ncreascd operating expenses aH'(..lh l
nor; uown me ncolne as In 11,. ""'Oti
figures for October. the cas f taij
INCREASED OFFERS
SEND COTTON DOWN
Declines of 7 to 15 Points Re-
corded on jower Prices
in Liverpool
. ..ino lon4
00
37
10
83
38
4374
14
37
44
31
109
12414
14
32
08
77
0814
70
181-4
0914 a:
27
19 t
834 H
38 n
48 14
14
27
44
31
100
125 1
..
..
33 Y
09
7714 194
9514 J-4
70
18 4
130 130
19
31 V
82
148 10
24
87
88H ..
44 1
13 94
143 142 1
81 83
6974 8974 3
19
31
82
145
34
87
8574
4314
12
United Fruit
U S C I P & F.
U S Ind Alcoh..
U S nubber ....
V S Smelt & Ref .
U S Steel
saw
tf-f
L.
'
" V
104 Market Htret
Camden. N. J.. November 20. 1B17.
.A Mtiarterly dividend of IS Der cant or rt nar
kara. haa been declared on tn capital stock of
1 IKiY company, payable December .1st. 1917. to
.-; trie stockholders of record at 8 o'clock p. m.
.November Zlst. 1017, Check will be mailed.
?r J. B. TOWNSEND Sd.
Treasurer.
VtK2r' 1MINATIO.N WAY AT THE I.ANRKNAU
,S3ST llllMI'ir.M.. TIICKHOAV. NOVKMULK
'- ZtTII, 1V17 ITIl.l.MvSUlVINd DAV).
Donatiooa In cash will l cratefully received
ine treasurer, .aniuiui it. isuoarr, ai rne
. QJ urexei siivu., i.nainu4 anu vmu !..
1 uorKiin:an ana uirara avea.
aedaj way. baaeat W tka
its?.
BANK CLEARINGS
Tlank clearings today tompared with corre
sponding dsy last two yearu:
1917. lain mis
llo.ton- . ..J40.II2O.8IB I39.223..188 132.833,800
Philadelphia .19.873.118 r,:i.7stt.2(i2 43,878,035
New fork. 300.813,878 733,811,030 500.051,489
. NEW YORK COFFEE MARKET
NKW YOHK, Nov. 28. The market for
coffee futures opened quiet and lower, call
prices snowing declines of 4 to 8 points.
December. .
January. . .
February.
March.. . .
May
July
tieptember,
Extra of 2 Per Cent by La Belle Iron
PlTTSBUnan. Nov. 28. The La Belle
Iron Works has declared the regular quar.
terly dlyldenda of 3 per cent on the' pre
ferred and 1 per cent on the common, also
2 iter enW;atra on the 'common, all pr.y
itls Daaahtfcer 21 to ataok of rocd tv..
... TeaMay
Open Hlah Low Close close
0.00 0.02 0.83 0.88 A.96
0.0.1 8.02 7.03
0.0.1 ... .... 7.03 7,14
7.15 7.10 TllA 7.1.1 7,23
7.32 7.8.1 7,80 7,311 7.88
7.82 7,82 7,82 7,40 7.B8
7.07 J.B9 7.02 7,62 7.73
Denersl Curar..
Oen rilear nraf.
Ooodrlci II P pf.-inn
Oranby Mln .... "T
Oreena Can Cop. 38
Oulf 8 Stl 1st cf.lo.1
Hartmtn Corp . . 112
Haskell Harker 28
Havana niec ,. hit
nderwood Tvn... on
Ilnderwd Type pf, 11314
union r.o Drer.. Tllq
tin 11B ft p new, 81
United Alloy mi.. 87
United ri str Pf.ini
T'nlted Drue .... At
tlntd Drue 1st pf 30
mm uruc vo pr 70
do pref ....
Utah Copper .
Va Car Chem ..
Wabash
do pref A . . . .
do pref B
West Union Tel.
Westlngh Mfe ..
Woolworth
Wilson Co
White Motors ...
Willys Overland.
...100 108 103 i
78
38
8
40
20
8314
30
78
84
8
40
20
82
38
78 i
38 1
40
20
88
88
107 107 107 1
48 48 48 2
. 38 38 38 ..
. 20 19 19
Total sales, 408,100 shares, compared with
814.000 shares yratrrdan thus far this week.
1,372.700 shnrrsi same period last week, 1,110,
400 allures.
dividend American Smeltlnr. 114 per
J. 000 Amer Acr deb 5 H3H
oi.inil AnBlo-IYcnch 5s tiuS
S00n,Amcr Kor Sec As in
7(100 Amer .Smelt & Iter Os. Mt'i
.2000 Amer Tel clt 4s S3',
lsooo do As 113I4
400(1 Armour Co 4Ha M
41(1(1(1 Atililun nen 4s s:ii
1000 do cM 4s .s.itj
8(1(10 do cvt Is 10IIO SA'a
KiOOU Halt & Ohio 3'4 .... Ml
SIKIQ tin As S3
311(10 jli 4s hlllj
2(10(1(1 do ct 4'is 80
A00II Prth Steel 1st Bs 30s.. 70
1(10(1 Hrkln It T 8s 1018... 9214
I211110 Kordeaux Us 83
inpo Can Oovt As 1920 9Hi
() t:cnt Leather 1st As.. OSlJ
innil Cent R n N J Ar 101'j
20(10 Chill Copper 7a 103
101)11 Chea i Ohio l'.4s 71
WHI0II do cvt As 78
AAIHI0 CUM Jont 4s .... 03 11
1AII0O C M & f)t I rfd 414s.. 00
1000 do CP S 08
inOO do cvt 414s 72',i
100(1 do cen 411 s 8A
innon Pliltl' rfd 4s 02
1X000 City of rarls fls...,
Kino con oas cvt 119
3000 Den & rtlo Or 414 a.
03000 DIs Secur Corn As.... 70
1000 Krlo cvt 4s Her II 41
4A(i0(i French lUVub A'.js... 94t4
2000 flen Klec deb As 07i
3(10(1 Hud & Man rfd Afl.. Rl4
AOOfl 111 Steel deb I '-is ... 84l
lildil Indiana .Steel As .... 9014
12000 111 Central 4 83i
unoo Interh Met Ma .... AS!;
19000 Inlerb II T ref As ..82
01000 Inter Mer Mar 0s... O.'lH
7000 Inter Agr 8s 0914
8000 Jap new jr a 4'4s.... 7.1
2000 KltlKS Co E L & P. 8s 02
8000 J.itcka Steel Bs 1923.. 90
1O00 Lorlllard 7 89
79100 Liberty llond 3s.
09POIKI uo a es vo
12000 Lnns Os .......... 83
10000 Marseilles, 8s 83
8000 M K & T 1st 4s .... AT
8000 do 4HS 27
7000 Met W Slda of Chi 8s 83T4
30000 Mo Pae imli A4,
100(1 Montana Power As.. 8RJ
81000 N T C & II 0s 03 Ji
2000 N Y City 4 Mb Nov B7 98
2000 N V Bwy 4a
49000 dn adj Ss
7000 N V Tel iren 44s ...
3000 Norf & West dtv 4s..
6000 Mo Pac 4s ....
3000 Nor Pae Bn 3s ....
1000 Ore Short I. 4s
3000 Tennu. 4a 1018
110(10 do ct 41ia
1000 do en 4!is
80000 Pub Serv N J B....
12000 Per Marquette Ss...
13O00 Iteadlnir Ken 4s
Bnoo Kep Ir H 5s
0000 SI 1, i S P ait
41000 do Her A
2000 do Her 11
3A000 Seaboard A I. adj 0s.
Bonn South II ell Ss
800 South Pan 4s
20OII do cv 4s
BflOOO South Pac ev 5s...,
A00O do rfd 4s
snno South Ilwy sen 4s....
OTToo do Aa
1000 Tenn C Ir 0s
SOflrai Texas Co fis
83nno u 8 Itubber Bs
411011 an os . , , ...
84000 IT fi SteeV t As.
anno
linnn
rrmtin
jLHin An r.Utt 101H 9K.
10 do nvis mm .'
7000 do AVSs 1919 new... 98,.
10000 do 814 s 1021 p2
170011 Va Ilwva As .1 02 ,
8000 West Klectrlc Ba 971s
NIJW TOnK, Nov. 28.
Declines of 7 to IB points tvero recorded
In the cotton market today. Tho factors
were lower prices In Liverpool and larger
offerings from tho South, although Liver
pool was a buyer In this market. There
were practically no new commitments In
the market, because of the tendency among
traders to hold off In view of the pending
holiday.
The weakness In Liverpool, attributed
to increased southern offerings, caused nn
easier opening of the market, with first
prices 5 to 29 points net lower.
There was considerable local realizing
before the holiday, but as Liverpool houses,
notwithstanding the weakness abroad, were
good buyers here, sentiment stiffened a lit
tle after the opening, and at the end of the
first ten minutes the market had rallied
about 15 points.
It was reported that spots could be pur
chased In the South on a tenderable basis.
December
January
March ..
May ....
July ....
Spot ....
Yesterday
closo Open
... 30.30 30.20
,... 20.42 29.2A
... 29.00 28.72
.... 28.74 28. .10
.... 28.57 28.41
.. 31.20
HlEh
30.28
29.44
29.0.1
28.71
28.47
Low
80.0.1
20.011
28.72
28.40
28.22
Last
30.13
20.29
28.8.1
28.A8
28.30
31.20
RAILROAD EARNINGS
WESTERN JtAIlTLAND
1917.
Oetoher gross 81,234,788
Net . 343, 3A1
Twelve months' cross... 11.178.710
Net 3.800,523
Increase.
tOO.001
88,720
1.282,334
508.379
Extra $2 by New York Transit
NEW TORK, Nor, 28. Tha Now York
Transit Company has declared the regular
quarterly dividend of $4 a share, and an
extra dividend of 12 a share, payable Janu
ry 1. to stock of record December 23.
Yale & Towne Pay 5 Per Cent Extra
NTEW TORK, Nov. 28. The Tale and
Towna Manufacturing Company have de
clared an extra, dividend of B per cent,
payable December 24 to stock of record
December 17.
TRADING IS LIGHT
INTHEC0RN PIT
bentiment Is Beariah, With!
Some Operators k,,w . 4
ket Lacks Aggressive Pressure'
. . CHICAGO, Not. it ' '
Sentiment around the pit in the core. L
ket today generaIIy J rhe"
of the ,, operators w.r'C.
pressure was not aggressive, h , J
commission houses reported the rltrV,
from time to time all through th. SS
Business was small. "K
Jfo. 4 mixed In the sample crowd u
i?-dvn. J.U0, con"ed with . h
?1.8o yesterday, and No. B yellow sJ2
on0,Tuesd7aV0 "-80' ""tWtSIS
The high on December was n itu ...
the low H.S0H and tho closi 8L A &
best on Jlay was JLlau th. t,,Az
1.181i and the final j 9i.lS J32
J1.18?,. yesterday's last price. ' ''
A firm tone was displayed In the mrv.i
for oats on a good general dem.naf. )
on the strength in thiciA bcw oW
of the heaviest Ue ntor. SS
Standard !n the sample crowd wa.,.
quoted. The close yesterday was mu J.
Ul8, b?1 69'5 " thecal lilt
against 69?,e, yesterday's last price. "
Leading futures ranted aa follows:
Corn fnew faSlJE- W' Cl0"- &
December .. 1.24.. 1.24H 1.2514 tl.;iu i eiu
i:a HW im Ul m
January
May
Oats
December
May ....
Lard
November January .
May .....
Ribs
January .
May ....
Pork
January .
tAsked,
i$i m i tjiii ,g,
.27.28
.28.10
.23.00
.28.10
.28.70
BT.28
25.62
26.40
28.28
20.05
47.75 48.57
SI-OO 2J.7S 5J.IS
28.00 .28.35 24.M
25.00 123.22 Um
28.05 t2,0S 755.55
25.70 t25,90 2J.JJ
47.75 t48.5 4T.4!
83 '4
A4U
80
1914
88
82
8314
A014
81
00
III
, 99
, 80
81'i
8Ali
941i
, B9
ASH
, 7114
, 48
93U
, 71
, 704
, 80'4
79H
89 V,
94
89
i 98
7714
100
on1.
R
Union Pac 1st 4s 8s;t
do rfd 4 78
U K of O 11 ft I Bs... 97Jj
P'yn ii .i-y a
2yCT(l0 do A14
1IC7000 do nU(
97tt
70'3
inn
9814
8814
78
9714
09A,
9AS
11715
02
91
97i
r.x
cent
Total aalea, W.290.080. rornpaml with M,
MO.mo yesterdnri .thna f ar thla wjylr. U,0e0,
0001 same perled Inst week. t0.131,000.
Extra 10 P. C. by Western Sugar Co.
DBNVKR. Col.. Nov, 28. The Great
Western Sugar Company has declared the
regular quarterly dividends of in per cent,
on the common and preferred stocks, also
an extra dividend of 10 per cent, on the
common 4ock. all payable January 2 to
stock of record December IB. This ts the
fourth disbursement of 10 per cent, extra.
I the first having been declared about a year
ago, and maaes a total ot i per com. paia
on the common Btock during the year.
BAR SILVER
Itomestak Mln' JOTS United Dye Wood
Illinois C-ntral . 9.1S 1st pf ....... 81
i.ro nut
Iowa C
Iowa Ci
Kan Cli
is united I'aper urd is
108 United rty Inv .. 614
nl united Itv Inv of. 14
12 US Alcohol prof. 83
Int AiTieul
int NicKei prer.
Int Piper pf eta
T aA Hllh X. T fS
eniral ... m iib m i - ' iav
nt pref.. 101 U SCI P P pf 47
j n rtLvtrmm , . . . is
Realty Im pf 80
If io nf . . as
Keok D M... 414 U P 3W .lm'i 15
l ii r ien
Lake Erie W
Lk Erie W pt
l.ee Rub tr Tire.
ug a; M 'IOD.
...200
Llx a M T pref ...101
Long, isi
Ixirfilarii
u
91 IT n Sm.U It Ref 47
12S u B nrei.. s4?s
" I' n no. .. v.v. w
nref.. Ini Ulan Kec Corp... 12
si cfs pf, 40 Va.Car Ohm pf,. ,
i! 208 Wells.Fargo ....78
Mackay Co 7i West lid :...... 14H
Macksy Co nref . 01 west ja -a orei. jn
Manhattan Beech I West Pao BR... 171
Manhattan HI ...100 Wheel tc L K. . 10
May Dt atr Pf.101 , Wheal L K pref "Hfc
Meawell Motor .. 2S -Wlllja-Over nref.. 70
Max Motor 1st pf 83., Willys-Over pref.. 98.,
Msy Debt Stores. 474 wis Central .... J7H
M Pet pref... i 90 Wilson Co prer...
MlamLCorner 281i Woolwortn -Jt
Mich Central ...119 5",!w05jhpi7'"1iJ
Mln St I. new, . 10 Worth PM... M
Mo Kan T pt.. 714 Wrib. P a M 1 B 61
Mo Kan Tex,. .
Tester- Last 1817
. , . 7? 4y, Wed. Ht,h Low
new otk icenisi a., ns. eio. 1(IHV4
London (pence).. 421i 42'i 43'i 65
71
35 li
nlRKCTOBV OF ACCOPNTAKTU
Certified Poblle Acecnnt)Mt
ci.M. V Walinn. Ci. P. A.
llth Boor. Beal Ette .Trost Balldrng.
AUDITS J TAX BEPORT8
Morris Brothers Co.
Established IMS
Bonds ior InvMtramt
MHtaI 4W(1 C4MTKTvtiMI
. "J T."V?'Wsi
First
Mtfe.
67o
Bonds
To
Yield
About
64
Public ITNKCie-, subret to State Government
control for years, are not disturbed 6 tcor
time regulations.
Tax RefuHded In Pnnsylvanla
Minhitfin Gis & , Elietric Co.
' First Mte. S. F. iwds
Dated Mar. 1. 1917 Dae Mar. 1, ltI7
Denominations (100 1500 81000
Interest payable March and September
The company serves Manhattan, Kansas without
competition.
Mortcaia contains unusually strong" 'Slnklnr fund
provision.
Net carnlnta" twice lnteraat charvaf.
Franchises excellent. Experienced management.
Detailed HrcuIor-on rnjuef.
yiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiii
Substitution of Women
for Enlisted Men
An article in this montli's "Com
Exchange" will give information as
to the processes in which, and the
methods by which, temporary substi
tution of women for enlisted men
have been successfully carried out in
twenty-five different linesjojindustry.
This will bV?f6llower3byW'b"ooklet
(now in printer's hands) which will
give details foruse of thosepecially
interested. r"
INDUSTRIESl'COVERED .
Leather (Caee eV.Fahcy)
"Municipal Service
Oils (Cotton, Llnseed-an
Nut oils)
Paints, Colore andVar
nlehes Paper .,
Rubberik
Shoe
Soap "..,- -
Sllvercand EleetrloSPIate
,Sujar neflnerleai).
'Tobacco ,Vv. v
Weed Werklna i
iWoollnduitry ' ', .
rick and Pottery
(Coaree Work) ,,
Brushee
Chemicals ,v
China and Earthenware1
Clothlno (Heavy)
Cotton
Flour MllUna
Qee and" Electricity
Qtaes (Bottles, Flint
Qlaee)
Otovea i
Hoelery .
Leather '(Tanning.: and
vt Currying)
n
II 1 INCORPORATED II
II 1 Stock Exch. Bldf., Philadelphia II
II 1 Boston "' New Tork II
5 N
' -UhIJ
,Tfie 'informat&htias lUeeri secured
from many pamphletsiftissuedbyhe
BritishsGoyernment.'- """
You may- feve,aicopyofMbotlic'ith"e
"Corn Exchange"-;andsithq!kBamphlet
byaddressinghe;f,r' ' -
i Corn Exchange National Bank
PHILADELPHIA
Chestnut at Second , ..
4. . . . ! " ' l Jt
7' '
IHV3' .v--.fl
WSLk-'LJ&2MM
i ,; . t .'
'4 L&lsikik
V. ' ' - -" -?iSaBaE& v SLfwr &m