-- ' ' '" ' ' - - .' " l ; - Ma -v ' .- ' . - . s , w I. I'f-. If v LY. BROCK CO. BANKIII INVESTMENT SECURITIES GOVERNMENT MUNICIPAL RAILROAD AND public Service corporation BONOS 3N CHESTNUT STREET rHtLADKLrillA dlThc Financial Outlook From the Invest or's Standpoint .?-!- i K i. -.iJ HtX & IW Send Tor circular. Bonbright & Company MOnniS WI8TAII STtlOUl). Jr. Msnaser 457 Chestnut St. Philadelphia New York London Hoslnn Paris Chicago Detroit Suggestions How to Invest Send for Circular L 143 A. B. LEACH & CO. 115 South 4th St. 9 Facts Jto the line- Kry Un or tpr In new IB-pac booklet Just t imitied. tell V Important farta about nn Oil, Mining nr Industrial atock traded In on the Miv York Curb. The Us. IncludM over J 400 Stocks Itlvlnc par wiue. capital tttock. divldf narrate, high and low level for the month and ear and other figure for vest riotket reference that the. mestor can't keep In his memory Send for Booklet S09T. U. JONES & BAKER STOCK BROKERN Wideaer Bidg., Philadelphia Bell. Walnut 1090-1. ., Kexstone. luce 22011. New York llo.ton Chlesso Pittsburgh Direct Priiats Wires. -1 ; JOSBS BAKER. IFMener tsldo.. Philadtlphla, Pa. Tou may Bend me your vest pocket reference booklet. Xamo . Xiirft City.... Stair .KiO-T. U. PROPOSALS -tttVe. DEPARTMENT OF THE CORONKR tV .will receive bide for supplies for 10i. &rsVhedula on file In Coroner's Office and can Z ..fea examined an aay unweta w ana a (.;,: a'clock. All bids must be sealed and will be "',"aanad. DetemMr S. 1117. at iz o'clock NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA! STOCK PRICES, STRENGTH COMES TO NEW YORK rYstoSsZto f J)LMIST?TTI1 STOCK MARKET NEAR THE CLOSE ' llllh Low Close Activity and Increased Values Cause Bullish Enthusiasm Following Long Period of Dullness Tone Is Cheerful m 'JOSEPH A. MA1ION. Chief Clerk. DIVIDENDS RtSr. Ji& 3?- DIVIDEND .' THE BARRETT COlirANV (X. J.) K.f,, iwfA- quarterly dividend of One Dollar and ". .1:aetx-tve rente (81.78) per share hae been Veclared on both Common and Preferred .& 'Capital Stock of The liarrelt Companr. -'. 1i.m I.M. anH fha Prfrri1 Rlot-l; Huh. f ?oJ jHSTlptlon Receipts of the American Coal M.' FaOCiUCia l.onipsu,, pajauie ui, .inwid ." mMm m .m .nn..MA atnft hnttiitrm tt r.nrH r'Xsit the rlose of boalnrsa December -0. .., .nil Jsmisrv 15. 1018. to the I're. lerrecV stock holders of record as at the VetsH of bualness January 1', 1018; on Jan- ('.wrr 15. 1018. to rreferred Ktock subsrrip- t9L. vtmmm.iT., hAltt-rs of th American tTaat VFroducta Company of record as at the close l- 'iai, business January 2. 19 IX. ' fi -- - . ErtNEST 1. STKEn. Treasurer. ism: :-'iIai IXOAX. AD-ERTIEMENT8 BKTATE OF DR. JOSEril M. MAlATEtTA. Deceased Letters antary on the aboe estate bavlnr ;-rranted to the rrovldent Life and Company of Philadelphia, all persons ea to ine ssio esiaie are requeeiea to ryment. and those .having- claims to the same, without delay, at the of the vald company. 4uu Chestnut t. Philadelphia. M Asa a. rviMG. President. High Points in Today's Financial News fllovk prices Improved, ttith n Inlc increase in aclfllj, oh A'ctu I'tiffc Sfocfc KxcUpnoe. Oil shares advanced on the Curb. Oats and ration were hlphcr. Utile 0 interest developed in the foreign exchange market. .1 special dividend teas dectared by the Central Tlallicau of AVio Jersey. Announcement u:as made that the federal Government ti'oiW (jsiir uric ccrflficnfrj of indebtedness, dated January 3, MM. Directors of the Phila delphia Company reduced the common dividend from 1 to 6 per vent, liar silver teat unchanged. NEW TOKK, Dec. 1?. There was an InfuMon of stiength and activity In the Ftocl; market late In the afternoon, following a lone period ot dullness In the precede part of the day, on which a number of stocks made advances of from 1 to 2 points, creating a show of bullish enthusiasm amoiiK the tradlnc clement on the floor and making the tone change to one of sreater cheer f nines.". There had been some pressure In evidence In a number ot stocks early In. the day when American Tobacco dropped .".points lo 125. and Texas Company soVjJ off 2 points to 1lS!i. bill the range of prices In the list generally during the. .first half of the day was narrow and the tr.tn actions consisted of the operations of the professional tpeculatlve element. New York Air ftrake by that time nttracted attention, ndxanclnsr 6 points to 109, but otherwise early trading was listless, with both com mission house clients and banking Interests apparently Indifferent to the course of prices. The upturn In the afternoon was most pronounced In Distillers Securities, which had a sudden advance of 2i In 22, and Indus trial Alcohol, which sold at 106, advanced to about 108. New York, On tario and Western responded to the declaration of 2 per cent dividend, wllli an advance of 1 to 1j. United States Steel advanced from SI U to S2. and other Rteel in dustrials, including Ttcthlehcm Steel "B," moved In the same manner, making moderate gains after shading off slightly in the early tratllnp. Liberty Honda continued pressed for sale from some quarters, bond brokers so far being unable to trace the source of the ordern which caused these Issues to sell at lower figures. There was heavy trading In tho Liberty 4s. down to 97. and the 34s, which sold In Hie day at 9S..M, declined to the new low record of 98.39. MONEY-LENDING RATES M5W YORK Money on call opened nt 6 per rent; high 6; low 4?i i last oj closed 4iW3; ru'lng rate o'.j per cent. Time inline)' continued unchanged. Kales on good mixed wcro nominal at S'itX per cent. Prime mercantile paper remained quiet at 59i WC per cent. Kates were un changed from last week's quotation at AV3'i per cent on cllglblcs.. l'llH..l)i:i,rltl. Call, S per cent; time, SWS'i per cent. Commercial paper, three to four months, S'.i'iluij per rent; sl months, BVSIfG'i Per cent. FOREIGN' EXCHANGE NirtV YortK. Dec. 18. There was no Indication nf active business In the foreign exchange market In the early dealings today. Sterling displayed firm ness, Swiss exchange was strong and lire ere steadier. Otherwise there waB little In the market to report. Quotations were: Demand sterling 4. To,",, cables 4.76,',, sixty-day bills nominally 4.71ii 4.714. ninety-day bills, 4.69'.; 04.694. Kranc cables. 6.71 ft. checks G.74r. l.lro cables, 8.22.j, checks 8.234. Swiss cables 4.27, checks 4,28. (iuilder cables 433,, checks 42';. Pesetas cables 24.16, checks 24.05. Stockholm cables 354. checks 36. Chrlstlanla cables 34, checks 334. Copenhagen cables 33, checks 32 4, LOCAL MINING STOCKS TONWAH STOCKS .tlm llutler Tl . MaeNamara IT. Midway "I Mlipah Ent "I Montana 07 Nerth Hmr in ncu Kula 07 Wcit Knd r, 1 J0r.I)FtKt.tfT0CKS Atlanta en'i I Itlue Hull "1 ! lUoth '01 Klainondlleld R II 01 i rly n-J I Kewanas 0 foro ni Sand Kndsll nt I Silver Pick 05 ! M1SCEI.T.ANKOVS j Arizona T'nited . . Nevada Wonder . . . Tecopa Mln UH'j M.i n. .0.1 n; .: .n; is .ts I n 23 LONDON STOCK MARKET tjonrion N. Y. la:30 n m. enulv Atchison M'i "!)' Canadian Pacific .. . inn 1.VJJ. ChxapraVe Ohio. ... 49 If.'. St Paul . . . -t'l'.i .!. Krle 21 i' do 1st pref . . .11 , J's Illinois Central . ... Ill 4 vjtj LoulsMlle Nashtllle . 113 107. t'entral Pacific "O'i (l"1. PennsyKanla 404 "i, Ilesdlne 714 ns'f Southern PsrlUr S4 sn United Htat-s Steel SK 3i, Union Traction 112 1004 Net chce. 24 l 2t. i; ii'. 4 . Reserve Banks' Discount Rates Offlrla! rate of dlncount for "ah nf the twlee IVderal districts are as follows: nays- BANK CLEARINGS IlanK clesrlnsa today compared with cor responding (Jay last tno cars tnlT 1910 191.-, Phiuda. i7o.MK4.n2i t.v.TS2,mn tas.smi.sm lioston.. si.-r.n.-.'jj 13.214. 741 s.l.Rti.im K. V. .O'Kl.lBl.fCS 8011,377.0411 023.033,074 l. I.OUIS l.iML.Hi.i ..',.-n,,,n,i I,,4tl,ltiO ,ioj..ui. Dalttmore 8,1 8.031,014 .r,2ll.690 I llnstun . . . . I New York . . j Philadelphia Cleveland . . . j KUhmond . . . Atlnnta . . Chlcaao .... St. I.oule Minneapolis Kansan City . . Dallas San 1'ranclsco 4 X UP Over 1 to mi i'ii 4'. 4' ft ft 14 I I '.a 14 (Her on un m mi '!l ft 44 14 44 4 44 Jersey Central Pays Special NEW YOrtK. Pec. 18. The Central 1 Railroad of New Jersey declared a (spe cial dividend of 2 per cent out of the earnings of the Lehigh and Wllkes-Darre Coal Company The dividend Is payable I December 31 to stockholders of record December 27. This Is the first Lehigh I and 'VVllkes-Barre dividend that has been ' paid by the Central Railroad of New ' Liverpool Cotton LIVERPOOL. Dec. 18. Spot cotton was quiet today on the basis of 22.2 Id for middling, old contract, an upturn of 6 points. Sales 3000 bales. Receipts 26,000, Including 16,600 bales American. Futures ere quiet In the early dealings. Old contract spot prices were: Ameri can, middling fair, 23.42d; good mid dling 22.73d: middling 22.2ld: low mid Jersey since June, iDlo. in the Interval 1 dllng 21.68d; good four semiannual dividends were omitted, 1 ordinary 20.16d. under the orders of the couit Recently the ruling was relaxed so as to permit the Central Ylallroad of New Jersey to receive and distribute the coal company dividend. The company also declated the usual semiannual 2 per cent evtra dividend, payable December 31 to stock of record December 27. ordinary 2i.69d ; BAR SILVER INACTIVE NEW YORK STOCKS Following are quotations for Inactive New York stocks and In which there were no transactions today. The price given is the last pravlous sale: Adair Express. 115 TWl)Iard r tn Advene Rum.. S JI ! : T pref .71. rtavnro jium pi -va -.-...- j 7V- Today Test. London tpce ) 4.1 43 N. York- lets.) 824 8o!i Tues. 42', 854 1917 Hle-h I.oir 56 .1514 1084 714 ii AXNTAf. ELECTION'S .HMVERB AND MERCHANT! DANK . t7 3014 Market street ,'fcMrii,lnhla. Pa.. remhr 17. 1017 MRM annual meetlnc for the election of ora 01 (ma ivnn will w nciu ii (iiq : nouso-on xiwaaar. aauary a. taia. . in nours or a o-ciock ana a o'ciock. c it. rATr.. issn i e r. Y or ArcorjxTANTS ftWRENCB E. BROWN k CO. 1ERB11IP RBAL.ERTATE TRUST RLDO. DjkTK-ai aiuum ranTnuKD ITIOIM DISPUTED ACCOUNTS oraeK. Wataan. C. P. A. w. txrmi ceiaia iru niaa, IS ' TA.S REPORTS rf Neie; York Pays Extra C'tORK. Dec. 18, The Bank of itfln 'addition, to the uUatienl dividend -of '41 "hare, payable Syto-.bolders .of record Pecem- T- Gtt. PaMM DiTpiewl k-lI.J-jThf Kastern " WS aWfcPVe nK,i,1tr DIVIDENDS DECLARED Duqu !. JsUht Com pan j'. rfaVulur qiinr trli of IK ptr cnt on. preferred, payable tVhruarj" 1 lu itocls of rct-nrtl January 1. Uldf Avtni- Pa.Tigrr Itallwav, rular (luarterly uf lt rr ahaie, taabl .lanuarv t as r?a.itTfd LMmbtr in, BooUa cloae DcembT ir, opfii .Tanuary m, .pslty Kubbr t'ompany. rr'ilar nml annual of 3'i per rint on preferred tok, payable January 1 la to'k cf rrord D wmbtr 31. National Caiket Company. r'C-iUr quar terly uf l'i vr tent, payable December 3t to atock of record December 20. International Traction Company, regular ?uarterly of l'i per cent on 7 per cent pre rrd and of 1 per cent on 4 per cent pre ferred, payable January to hotdera of record December 110. Chulmera Oil and Oaa Company, Inc., rerular quarterly cf per cent on preferred, payable January 1. Books close December 20 and reopen January -'. Central leather Company, usual quarterly of Js per rant on common to;k. payable February 1 to stock of record January JO. New Tork. Ontario and Western Itatlroad. dividend of 2 per cent, payable "January 14 to stock of record December SI. Air Reduction Company, regular quarterly of tl a share nn common and i per cent on preferred, both pavabltf January 16 tt atock of record January I. laUnd Creek Coal Company, regular quar terly of 11. 170 a share on preferred and f'-50 a ahar on common, both pavable January 1 to stock of record December 2S. Geofitfa Llabt and Tower Kalhvaya Com yauvm retrular quarterly of li per cent on .U HUIK Ui preferrrd. payable January - reroru ircemner -i iiicnican tlmeatont and Chemical Com panv, rrruUr quarterly or ! per cent on preferred, payable January )3 to stock of record DecemberJ.. 'rw Kncland Tf lephone Company, reyulsr quarterly of percent, payable i ptcn,br SI to etock of record December IB. American Telephone and TU graph Com- Sany. regular quarterly 11 share, payable anuary 16 to atock of record December 31, .Westmoreland Coal Company quarterly 4 per cent, payable .January 1 to atock of rec ord today. This Is the same rata as de clared 3 month ago. The dividend deea net apply tOj the new stock authorised: by the merger. Kansas City Southern Rttlro&d Company, usual quarterly t per cent on preferred, payable-January IS to, stock of record Decem ber SI. Cotton Buyers and Sellers JfKtr tOC nee. IS, .Unuiry-r i Ulordan. llapcdqrn, nml Heidenbfft; ...'aWlatrcd n exra dividend of jblut SchlU. T. ilton, Card&zaf Monletvand i.irui ouciiu. March 3ternbicNr. Mltcl1l anrtJI. Gumoens b!d ; Martin. W. Gumoens, Car dosaAnd Ger offered. . May Con p Hyman. JUgedorn, , Me Fadden. Cone and Grn bld.'Schlll, Hnts. Martin, Hountrse, Gecr and Ss-a olTered; - ,, . jpIyWanmanI and Seval bid; Cone I tiwwwmt' wi w. sv rjwm4 1- m in; irtlT .M air-1 a an ti,.v.s. ka At rii n a . aj i.uuusi ,, fv w-""m.imn lcn Am 4sr f!hni nf tt Sfay Dr.f . '.V.5. ..... -i Mar .-.. .... ri ,(, rxuiraa l. , " 'l ! jT Am Hide i L 11 ' Pet pr,J .'Mil isinarrif . Am l.oco pref J ... Ilols Am Malt pref'., r," Jont Io Am Hmelt Pf A P01! V;"r" Kn a - c..-. - Ills) ,l A. ami iuair yi-i.i"" .- ; "' in ,. tiut ft in Kmnntra n" U."s ! flati.la . -"' ,-.,., ............ . -- ,, .""' I tlf III! . 2.V, - ami Cop"r ?; " .1(1 Pf. u Am Tub of new Ml 0-1 L K pf'tnnu TM.jr B2'j V."! r-n Stp rf . Am T ' Am T t Cable. Am Woolen Alaska (lold M 1 Alaska .Tun .. Mi Allls-Chal IS!, Am Beet Sugar nil Am Can M do pref . . . . nn Am Car & ! (Vi 62 Am Int Corp. . 2li Am If & . pf. 4',i Am t.lnseed pf OS Am Locomotlte 7i Am Malt (Mi Am SnieltltiR. . 04 do pref . . loo'; Am .Snuff. ... it Am ft 1-Mrj . . .VJ'4 Am Suitar . . Ol'.i, Am Tel & Tel OS Am Tobacco .15 .'.-, Am Wool pf . . . e,s,i Am Zinc & I, . I Ha Anaconda . . . .l.li.i Atchison . . . 70 do pref . . . 7' At Oulf & W I 0i, Hald Ico Cu S3'.', Bait A Ohio 4fl'.a ' neth Steel sift do n. .. . oo'.i do pref I r . HI HiMoklyn II T. 7',4 Bums Urns ino',4 ntitte f, Sup " IS. Cal retiolrtiin. losj Oftiiadlau Pae I SO ',4 (.'entral Leather no'.', do pref . os t. erro de l'asi'0 20 t 'handler Mnl . no thesa Olilo. . 13'!, CM 'it West . . H' Chi JI d St P SO ' do ptef . . .70 Chi & North SO", 'fhl n U- P t f 17 do 6 pc pf t c 37 do 7 pc pf 1 1 (0 Chile Copper . . I; Chino Con Cop. sl'i Col (Jos A Wee 20'i Consul (las . . 70', Corn Products. 20 do pief . . 00 'ruc'lili- Steel IK'n Cuba Cane Sti. 20", do ptef 7S Deere Co pief. OH, Del & Hudson 031 1 I, & W. .170 Dome lllne ", Distillers Seen. 3 Krle 1'. do 1st pief Gast-Wllhns (!en lllec Co (Jen Motots . do pref . . . Or Nor pref. do subs. . . (ireen C Cop Mask & Har. Int Arjrl. do pref. . . Insplra Cop . Inler-Con Corp do pref Int .Mer Marine do prrf . . Int Nickel . . . Kansas City So IS'j do pref ... . 45:u Kennecott Cop. '!0'' Lack Steel .... 7.1", Lehigh Valley. S'J Lnulsv & Nash 107ai Mackay Cos pf . SS Maxwell Motor. May Dept Sirs. Mex Petrol . . . 51 St 7 & S S M Midi ale Steel. . Mo Kan & Tex Missouri Pac do pref Mont Power pf 03V4 I Nat C & r .. 2li N'at Ulscult. ... 0714 'Nnl C & S SO Nat Vn & S.. SI "A , Nev Con Cup. 10',i 1 N Y Air Hr..lo',4 New York Cell 00 ',4 N Y N II & H. 28 N Y O & W--Noif & Vest North Anier North Pacific . Nova Scotia S Ohio C.as , Ontotio Silver Penn it 1! I Peo (las A: C Pere Mam. w 1 , Phlla Co . . , Pitts Coal . . . 1 Pressed Steel C SO do pref OS Pullman P.il C.108',4 Ry Steel SprinB 40 flay Con Cop. 20 neadltip; 8"A P.endlriK 20 pf. S4'!4 Hep Tl 011 & Stl 73 Itoyal Dutch . 07 ',4 Saxon Motois. . S'i St L S V ... IS St L & South. 22 '.4 Seals Roebuck. 12S',4 Stattuck Air.. IS'.i SIuss-Sli S & I SS Sinclair Oil . 2',; South Pacific . 70' ' South It P.. . . 23 Studebaker . . 431, ' Sup Steel 33 do 1st pief. . Tenn C & C iv I I Texas Co. . . . I20s 1 Third Ave It It 16 Tobacco Prod. . 44',i I'nlon Pacific, .losti Unit ClKur Strs ss'.i I'nlted I'rult 112 Cult Ry luiest 4T1, do pref . . . Il4 I' S lnd Alco. I0H f S Rubbet . 40 ',4 in ii, is ',4 0.14 S3(, 88 0IN. fi to 08 48. 0 00 lflfl',4 S3, S'!'4 Ol'd OS", 12S 88i Ills 78', 77i 92 U S'! 40 08 't 08U 03i 30'i, Hi, Hi IS (4 00 si'.; 88 01 10 88 II "1 0'.4 OOiJA 100'i B3N. S! V4 0I' 07 178',, 88", I l'i SS 70 rts. Net '.i u ! !i 4 I ON NEW YORK CURB Trailing in Other Slocks Drags, With Fractional Price Changes Sales in PhUadelphia I- '.'4 I 1 -t- 'S -I V4 -t- Hi H4 1', !i NW YORK. Dec l Reports that the recently created de velopineiil company had dlscoicred coml pindurluc properties for HouMoii ol1 caused ticorous buying of that etock npaln tod.i.i. on ulilcli Its pi Ice rose t" 3l'j, n Kaln of seven points In tin" las' two d.i.is The strength In tills sinik caun'il a belief tune In the oil list gen erall.i. ulth Metrltt adianclng In 17 "4 and Midwest Refining moving up from CI to 93. Theie was artlie trading also In Chei roiet Motor, which 11 as bought by Ini poitant Inleiests ndviinclng from ot lo 00 Tiadlng III ntlier storks dtaggril to consldet.ible oxtent during the gieater patt of the daji and price moipmenls In the general lll neie limited to small fiactlons. 10'., 1H0' -2',ii TheieAtas a geneial amount nf line - I3U I3 N 1 ness In Aetna IJxploslies. which solil at loi i '.4,7 and 7'.. Wrlght-Xlartln tanged 120'4 IW'from 0'u to fi, and Curtlss Ainiplniie' SO', sold at 27 Submarine Ihai was ipilet, selling ai II and II ', Theie wasH giiml deniaiid foi Tilangle Kihn. which wa traded In at 1 to I', with nn lni"reiied d'-maiid following the return of the preildent of the enmpan I10111 llw Pacific roal. ilenetal IClcctrli- rights were lower selling at I 11-10. following the decline In the prlrp of the stock. Interest was attached on the Curb In the apparent abandonment of the manip ulation In Tile Ledge, which declined In 1 '4 other mining stocks were steady. Willi Untie 111 8'4 nnd Ri. Slandaid oil of New Jersey wa old ii, nt SO" mid Standard Oil nf New York al 210. IMII VI'HIAI.S 77 A'ni (las.. 80 lollelhsil u n'i 38 Cam Iron it 23 Llec stor. is 20(1 Key Tel,, ni LkSpCtp . I. eh Nav, . ' Leh Val st N.MIiiclilll. st 14 20 Nev Cons J4 "1 Penn R it ijs. 0Pn Salt . ;' '"4 I'll Llec. 14 7.70P IITlr is 14 Phil Trac on SO" Ton Rel.. 314 tTon -Mln. s 27 I'll Tlai' 35 i "'I' 7 I... 'OS t Cos. V.I . . 37 IS I- s Steel 824 SOW Ir ft a s'.i tir .t a s. 4 ii, cramp Low. 70 8 ',4 42 10 8 ',4 Net thge. '. 1 I 37 SI. 101.4 I3'i 7?t4 I2.i 2S"A 80 211 S 3714 814 Close. 80 88',; 42 10 8'4 tin ',4 tS7 St S2 I0',4 I3"i '.i 214 14 A 77'. 22 ',4 2.H4 00 211 S 31',4 I 814 T- 420S 814 87H 1 8 8'.4 42 '.4' 42 li t72V4 I0i I78'4 S7 V, 98 2S'. Oil I3i 0'. 384 OO'.a 80 Ii 18', 30 i 4S, IS'.i 37 !i 70 U 78'.i 28', 0(1 I0L, 20 S2'4 S3' '4 48 88, OSIi 01 3?'i 08 2S4 00 13", fl' 38i 00 i.i 80', 11 Mi IS, IS', 31 'i 20 ', 70 U 28 mt 1 HI, 20'4 CJuotatlon gt en l yesterday's close. , l"?1. "'e. S014 abarea, rnmpared with ;.8l lire .le.terdal lbn far lhl week. HBI nrr,, -4W "4 , '4 4 ' i 4 I1.S0I lmrei name period IKIMts ISlnii Lib llonds R '' 3"s . 08.80 I88S0 ilo ts . 0J.30 Pjnon l.eh Val 'o.i I ,s I on 1300 Phila Klec 1st us OS I mill Reading gen 4s so. l'ulal iialea, 802,2SO, eomimre,! with fls, I.Vl jfUcrdari thus far this week, CllO.lOOl siiine period lat week, SIO.SSO. Net Low Tin. rhse 08.20 08.20 . . 07 01.10 . . Hill 100 0314 OS '. '., 80', 804 I ',4 Local Bid and Asked . 31 121 . SO. . II . 81 . 23i 33 '4 30 III', 33 '.4 30 II 4A 18 't 7714 2.V.4 22U IS'.i. 00 ',4 70 '4 4H4 3?a 23 3 8 ',4 104 00 I3TA 1014 00 .134 0',i 434 30 12 '.4 2S4 30 ',4 Ha lts too'. 20 II 111 31 118, 83 13 83 23'V 33 311 II"., 32 38i ST. 30 4 174 7S',4 2SU IS', 4S"i 28i4 724 Sli 10714 S8 22 '4 IS 08 70'4 II 34 22', 38', OS', 10V4 871', SO 331i I0'i III 00 2714 10 Ii IIS 43. 11i 00 334 3V4 4314 OS 14 12 2S4 38V4 SO S IOA',4 40 20i)4 6714 3414 714 0714 0T 13 7214 124 IS',. 3 2S4 78 2214 41. 33 00 12 I IS'.i, 10 43 10S14 H31i 108 4 '4 IH4 107 4.T, Vt'.s 031. I00T4 01, 31 II 2" 31 l-'O'i 80', 13 83', 23i 3S 30 III', :i.i'v 30 314 '4 4 111. I li "4 -11 J 3014 1814 71'4 2S1, IS 14 434 20 U -- 101 S8 t't Ai'tna l'ii!nsli,"- . . . A Ill-Ill II ih .Mfg Am .Marconi Auifr Writing Paper . Air Itcductlnii .. . Cntuidlau Car Co . . . Can Car A Kdy pref. Chati'iial Iron Cheirolet Mi'tor- Cramp Corliss Aeroplane . . Carwen Tool . Carbon Steel Kiiierson T'lioiingtapli. federal D.m Hendep Mfg . . Inler-Lubo . ... Knthodlnn Ilione pf. Lake Torpedo Hoal . . LchliUi Coal Sales . I Lima Loco . . Maxim .Munllloni Marlin Arms . 1 N Y Shipbuilding '4 I ' 4, Mllp ; . ., 4314 00 IS'.i 114 34 224 3814 9$ 14 1974 87 Vi no 314 lfl'4 I08',i no 274 I9V4 11(1 43"', 791i 00 33-. 84 1314 85 ', 12 23, 30 Vi no OS 10814 40 20V4 68 3414 72. 67 14 1 I 5',i Ii 4 IV4 Nor Anier Pap Otis Klevator Peerleis Motor Poole Kng , , I Redden Truck R Scrlpps-Ilootli '" ' S S Kresge w 1. . h, 1 Standard Motors n? Steel Alloys a; I Submarine ij j St Jorepb Lead ioou niiiiiiiuiioiiig. . . Triangle Film Unit Profit Sharing. J S Steamship United Motors United Sugar World's Film Wright-Martin Air. . . Zinc Concent tt II 111, 0k 44 IS',4 Vis Ak 0 3 3 Ml 111 00 73 28 I IS I I'll 73 SO 1. on 33 21, 40 12 (Sal... OS'.i Today Yestenlsv llift Ask llin Ark Im-Tj. en Store. 311 34 .in 34 llalilwln ... S3 S3', SJ 2's Drill J ll ... 17 .. 17 Huff Snvi Ir ctfe .Ml S3 ' In nrf ... IS .. I" Kl-.' Slorsse . . 4M, I'll. Ill 41 ll-nernl .lephslt It IS 14 1.1 ilo pref .Mi ;, ill .VJ Kejslone Telephone Si, '.I h's I' il.i ir itfs S 01 Oil 03 Lake .Sun Corn. in3. !'" I' "'I. Ilileli Navlaatlon S7 f.7', r,7 r. . '4 Lenlsli Viilloy .. St, .-. ftl'i S2. IVnnsvlvnnln .. 13', IS', 43', 43'i Phil Kleclrlr . BB' J2'f '-.", 221s I'hll.i I'ompatO' l'i .'. - "0 In per cel.t pf -, Xll 'J7 20 Phlla It T Ir ctfe.. .'.', tfSls '- 2S's lleadinir ... os 0-iL 7. us. rn ll.'tnvmi . 21) S 3. S't Ton Minlrg ... 1 I'. I'. .4, I'lilnn Traetlon. 37', 3s 37' SS I'll I l!4'. Ill's 01 's OS C S fieri .. h2's S'." M's SI'i Ynlk Hallway s 11 8 0 lo pref 311 32 311 02 Cramp & S'on. ... 7S SO 72', 7S 114 STAMIAItD Oil 273 780 . . .733 Illinois Ohio ;4 . Prairie Pipe Stand Oil Cal 700 ., Stand Oil N .1 488 "" Stand Oil N' V 238 '4 1 u iniii:i'i:mii;nt on. ,s I Harnett Oil & (Jas. . t ! Cosden A Co O'.a ! Illk Dasln 0 I , Federal Oil .. 2(4 Inter Petrol 1154. 4-1 ! Houston Oil 354 H4 Merrltt Oil I8',i la I Midwest Oil fi -4- '4 I Met Petrol ',4 jotilo Fuel 14 '4 I Oklahoma Refining.. 3i 4 , Rice Oil 4 4- 14 ' Sapulna Refining.... 8 ST4 1-4 ' Sequoyah 4 13 4- V4 Sinclair 10 2214 I I I'nlted "West Oil A 4-H4 in 7 8 IS 14 73 1 i 4T4 IS'.i IS "i 0',4 283 28S 24S 213 4U.-I 243 INACTIVE PHILA. STOCKS Following are quotations for Inac t've stocks listed on the Philadelphia Stock llxchange and In which there were no transactions today Tho price given is tho last previous close:, Allinnen Ins 111 l.eh Val Trans 27U Am Oas War.. 114 I.eh Val Tr pf. 81 Anier Mill .... 10 l.lt Tiros 2.". Anier Stores . . 32 Little Schuylkill M Am Stores pf . 112 North Cent 77 lliirr jC- Hn.n rf ,11 tM1n Cn 2S Ruff It Susij t c 00 Phils Co cum pf V; . mi . 414 J . .203 (ln Asphh.t pf. 2i IT H Steel pf..lnl Ini Co of N" A 24Mi West Cosl ... .27 Key Tel prel . . 54 York Rwy pf.. 32 l.eh Nnv rights 1st pref ... 17'i nun at .usj 1 c 011 i-niia n 1-1111 Com Steel .,..110. PUT Con Trac N .1. 06'-, Ilwy Co C.en lien Asphelt ... 14'4 tin Cos N J LOCAL TRADING CONTINUES LIGHT, WITH MOST PRICE CHANGES SMALL Rapid Transit Certificates Are aTrifle Higher, but( Remain Inactive Storage Battery and Penn- sylvania Salt Decline during today's Hading on the Phlla dclphla Stock Kxchange. and, with few exceptions, ptlce changes weie small. Among those exceptions were losses of I point each by StoiaKe Battery and Cambria Iron and a decline of 2', points foi Pennsyliatila Salt, out these reces sions were recorded mi tilfllng trans actions. The tepoiled shutdown of the plant of the Klectrlc Storage Ilattery Company yestetday may have been the Influence that caused a loss in that stock, but since It has been learned that woik In the plant was onl partially suspended, due to the coal shoitage and because of the announcement today that operations had been tesumed, the Street found lit tle tncentlie for weakness In the stock and It was the general belief that the loss was only temporary. At the same time It was thought by brokers that the further decline In Pennsylvania Salt was due to the adjustment of this usually Inactive lue to tin- present market con dition and the absence of a maiket for the odd-lot offerings The continued Increase In tho Rapid Tranlt Company's gross earnings as shown by the flgutes for November, which came out this morning, did not Little actlilty deieloped In any Issue cause a sensational adinnie In the price 01 mat company's certificates, nlthouBls they advanced a fraction, with sales light, Those close lo the management said that, while the net was somewhat less due to opetallng expenses, general satisfaction was hcatd over the show log. It lias also pointed out that lm pCDvenient could be expected, especially If the new lease was apptnied by Coun cils, because tho certificates, at their present prices, would yield buyers around 10 per cent on their monev. Railroad shares did little today. Penn. sylvania declined d fraction. Lehigh Val ley was unchanged and Reading, al though aclli e In New York, did not appear on the tape all day. Philadel phia Klectrlc was unchsnged after be ing off a fraction, and United Gas Im provement lost a trifle. Tonopah Bel mont lias one of the most actlvo home stocks, and declined 1-tfi lo 2 15-16, a new low record. United States Steel common did not show Its usual mo mentum, but was higher most of the day. Liberty Bonds were ,,ot dealt In as heavily as jcstenlay nnd ended the session unchanged. The 4s showed much more activity than the 31. s nml ihele i irne inrieo iniougnoiii tno clay. New York Bond Sales l!nno Am f'en Sec Sssson Anslo.Krencli leuun Am Tel as . . Soon Armour Co 4' Juno Atenisnn sen is Illih . 112 S3". . SO'i . S2, SI Low Ill's SO". 82', SI!', Close l, S2N MI'i "-'! snV SO ssi, 73 71 (II 701. Ill', '" ' Ml' nn, iic! .' i! ni 71! . 1. S3 000 Allan Co I. 1st la kn 21M111 Halt Ohio 3'is. SS'j M.-.'i 22000 do Is 731J 7:1 lonn dn r( l,i ..71 71 .'.000 naldwln Loio S... PP. nil nilono llordeaux 7ip, 7.-.I, jeinm con Uolt Ss 1B2I. 02 111', ,., nun no os 1112(1. ... Illli, linii Cenl Loath 1st n. ml, 2(1(10 Chill Copper 7s.. IIS 3IIII0 Ches Ohio 4'j. 71 31111(11) do ronv Ss . . . 72's AIIIKI Chi (It Wesl 4s . n.'l S3 10KKIO 1 11 q joint 4s. P2'4 na'i 2 1 C M t, StP rfil 4'i ll.lli 3', 23(1011 ilo ronv 3, . . 72'. 71 ti 4IIHIII tin cl' l's . . . 07 's SKI r.iiiin r It 1 ! rfd 4s r.01, MH sr.llim Cllv of Paris 0... 74' T3'. 22(10(1 Con (las ronv fis. 1111 PS', ir.nno Cerrn de Pasco Ks.KII lot 2(inn Chl Ilwys ,1s S2 S2 IllflO Den I Itlo Or Is. 1.3 03 1(100 I)l Secur Corp Ss 7ll'j 70'j 1110(1 Krle ronv 4s Sr n BV$ 38 10711(10 French Hep 5'ss . Vi, 02 IIIOO Iowa Central Ss.. . 7!l 711 SHOO III Steel deb 4te.. HIT, til?, 11(1(10 III Central 4s 1U52 7S 74 I0O00 Intern .Met 4'is.. Sl'.i SI', 21000 Inlcrb It T ret Ss 77 7' moon Inter Mer Mar 0s ss' ,S1 10(100 Japanese 4l,s. . pn P(l 3.100 do new O S 4',s 711 7S moon (lo new His. . . . 110 no 10(10 La 4 Ark Ss.. .S3 S3 2UIKI0 Lon 0s 70', 7S'i 20011 Lack Steel Ss 1P23. US IIS KlillHI La Sh deh 4s 11128 H2's S2'i 033000 l.lbertr llond 314s 08.S4 08.38 08.44 I2284MMI do 4, 118.30 01. (ri 111.02 03.VSI lo 1st 4s. . in. 11) 1)7.11 111,14 0" , so', 7114 nn 101 S2 1,3 70', 3H 112 711 oil, 74 si'i 7U 7(1 mi S3 70', 11.1 S24 I j .More U. S. Certificates to He Issued "" i The Federal Reserve Hank of Phlla II I dclphla has been advised from Washing. Ion that there will be another Issue of ' j j Treasury certificates ot Indebtedness, to I bo dated Jnnuary 2, 1918, bearing 4 per 4i ' cent Interest and maturing June 25, 1918. LI The Issue Is similar' lo the one recently I Issued under date of November 30, no I specific amount being offered, and Is' es 014 ; pecially for persons, firms nnd corpora- tlons having funds to Invest In anticipa tion of Federal taxes. 14 014 014 Philadelphia Co. Reduces Dividend PITTSBURGH, Dec. IS. The Phila ilelphla Company has reduced Its com. 111011 dividend from a 7 per cent basis to C per cent. The company declared n quarterly dlildend of HJ percent on its common stock, payable January 31 to holders of record January 2. t4iiiin Marseilles lis ... Hi'i .111(111 si k r Isl IS., Pll, I nun ilo w I ,1s OSs SO 1IHKHI do c m o . . .S3'. (limn do lis PS, .10(11) Nat lube .Is . II4W 23.1110 Sfl't 1II...M IllllO N V Cllv 4s 1057 S7 Bono N V Uwy oU Ss. 1714 10(10 N Y W C 11 4'4n 40 inno North Pac 4s . . M2 .Kino I'enl.n sen rt 4',, s HSU I2001I Penna rn 4'-s ... 00 1011(1 do 4'is 1021 . . 117 inilll Pere Marquette Ss 7K 12nnn Reading ten 4s.. si nnni) Itep I &S Ss,... P. P. 3011(1 St L A H I' ait . . SO HII1HI do In 40 liiiinii do s-r A.. .. si'i 201111 III i' M fc M cu ts S7 1hnnn s A A 1' 1st 4s on'i 13110(1 HAL adl ,'.s ... 47'i nnnn somh iietl ns.. . ot lllllll South Vae cv 4s. 73", liinoo ilo rv n so", inilll do rfd 4s . .. 77. 21(100 South Ilwv sell 4s 37'. sunn do con Ss no 140110 Texas Co 0s . . . 11(1 .130110 U S Itubber Ss 7 1 '4 11000 S S Steel s f Ss.. 0.1', .1000 Union Pac 1st 4 . R3 4000 do rv 4s 82 40000 uk or on 1 ss on 120nnn do .14s I0IR ... null 1.111(111 do ni,s line.... 114 lmnnn do n',s new lot!) 0.1"i 117(1110 do .1', 1021 1.01, 2000 West Klectrlc Ss. US', 1100(1 Wlscon Cent gen 4s 73'i nn, so .1:1 ; 1IMS, n 4 ', H7- 7.; in H2 S7'', on 117 7S S(l4 n.'l'. .Ill 4(1 ns'i K7 00 1, 47'.. 01 73 Ji Sill, III) I'SVs 74 ? HI S3", S2 on;, ooti 11314 n.iv, S44 11 n, 73'J 70'j no. so ns'i liss 1141, S7' S7 1714 40 S2 S7'4 no 117 II3H no 411 ni S7 Kin; '7U 04 73 i MP, H!? on nn', 7i; 04 S.V, 82 0.1'i 0!4 111 nnl, so HSU 73'T Total sales, $1,773,000, eompared with KI.3MI.0flO yesterdayi thus far this week, an. 171,00m same period last week, ft. 040,-000. HEAVY CLEARANCES HOLD COTTON FIRM Market Apparently Marking: Time Following Recent Violent Fluctuations NKW YORIC. Dec. 18. There was little fentntp to the deal ings In cotton today, but In the main tho market held well, helped by heavy clear ances nnd a persistent Inquiry from trade sources on declines. in innuus quarters me opinion wan expressed that tho market had settled Into n rut, following the recent violent fluctuations, and appeared lo bo marking lime. The report of the Census Bureau, te be Issued at the beginning of business on Thursday, ghlng the quantity of the staple ginned prior to December 13, was expected to bo bullish, but owing to un favorable weather during the last period It was not believed that the return would ciuses any material change In estimates as to the extent of the yield, Southern advices showed little change. Thern-was a finny of coloring shortly after the opening, which sent prices jns'f about 30 points above last night's final figure. Trade buying was also a fac tor In the ndvnnco to 2D.67c for March, or 107 points aboio the recent low level. Realizing checked the movement around these prices, and there were re nctlons of 10. or 12 points from the. best, followed by a quiet but generally steady market. December .Tanuary. . March May . . July . . . Spot Yes'dal's l lose. ,111.111 211.17 2,77 28.33 28.30 30.30 Dlinll 3(1.20 211.2.1 2S.SII 28 .18 28.33 lleli. .10.211 211.4(1 2.(I7 28. K.I 2S.SS Low. Close. 311.02 3O.0J 20.22 211.34 2S.7I1 2H.BS 2S.S.1 28.74 29.44 28.44 28.44 3(1. 33 Extra by National I'ark Bank NKW YORK, Dei'. 18. Tho National Park Bank has declared an extra dlil dend of 10 per cent In addition to the usual semiannual dividend of 5 per cent, both payable Jnnuary 2 to holders of record today Extra by Chicago Railways NRW YORK, Dec 18. Chicago City Railway Company has declared the quar terly dividend of 2 per cent nnd an extra, dividend of i of 1 per cent, both payables December 29 to stock of record Decem ber 21. : !'.4 114 11 3S,4 30 'i 1014 17',4 03 VI i i 17 ST4 8', "4 13 14 12S?.i IS'.i .IS e4 to 14 23 4S14 3.1 00 12 120 10 4I4 IOS74 HJ',4 1 1 1 4 414 114 108 4814 !4 M1NINO STOCKS 7 1-1 mKirn un uss.hi.i i-acinc aisii ...1 Tirown Ohoe ,. 81 Pan-Am Pet pf eb nurno Tiros 107 Tan-Am P prior Butterlck 10't ., Pf ct as. Cal Pseklnr Co 8S Peoria East s Csl Pet pref... 32!i Pere .M;rn pref. , Col t So 1st pf no E'erce-Arrow . xn'i Cent S Am T. .Ilr.14 E "ee-Arrow nf o' Cht Alton. . . 7 Jills Cosl pref. 71K CM A Allen nf 23'i J t West . rnsT Chl Ct W pf. 18 "lis West f R7li Chl V W pf.ISBT, JubRerv N J ma' ciuett.P'hdy pf.ltn 5",Jln 1't nref si'i Com.. Tah . . a. f v Arms . . nn Col PuM t Iron 8(1'. E' V, .J " ', ref 2.1 Col I- Soutl.. . 'i S"br',A L nref 17a. Col A Mo 1st nf 47V 2"t,,V?0'1 '"f.1211 Col Fo 2d pf 42',, SI 7uR "i' HI Cont Can o g?ulhern P.v pf .1.1 Con (1 BMP on S.IIS .M.1.1."'1 l'i Cont Tnt Cat M 17'4 g nd Miqina pf ss CruclMe stl nf ss (l'ut Motor aiil Cuba Am Sue pf 08 .!.' Co rts ipii Cuba Am 8w.. 14114 ,,. Pae.. 144 Hen Rio Or.. 0 Tidewater oil . Sfls Detroit' Edison. 12S Tifn .P'od pf so P.rls.Vd pref,,'. llll.J'M L V,.... 7n Eleo'Pfor Bat., nil T T. w ctfs 8U. Osn Chem ...,!S J" Bt L t, w pf, sn Rsneral Clear .. 8W T " L 2dof cts,l Otn- Cigar pf,. 0814 Trsnsue-Wms ..ST Ooodrlch. B r.'. 3414 Twin City It T. 02 .Goodrich B P pf.100 JTndersrood . . , , 88U Granbr Mln ... Mt Underwd T pf..luu Onlf Btatea Btl. 8S I;n.B P new B? Oulf St S 1st pf.lOS JJnJon Pee pref. TO Hartman Cor..21 J'n.'t'dAlioy stl s.is Havana. Elee..,101 ' t Cl Str pf 102 Hsmestaka Mln. OS United Drue... ns Illinois cent ... si. ir prer no do pref A . . . 38 do pref B. . . IV Wells Fargo K 71 West Mary . . I3V4 West Union . 1914 Westlnghouse . 3SVJ Woolworth . 101 do pref IIS Wheel & I. K.. X do pref ... . 18 Willys Over . 174 do pref 72 Total sales. 312.100 shares, eumpured with 432.000 shares sesterdayi thus far this week,, 70S.0O0 shurrsi.same period last week, 282,800 shares. Kx dividend American locomotive, American Can preferred, 1, . Raski Darker, " . lesas Kin. 2',. 38 38 10 IV -f sx 11 71 t 13 13 4. 1,4 77 1D4 4- 314 3SV4 4 101 lot r- ', 113 lis 8 X 14 18 18 ', 1714 174 !i 12 72 4- I Alaska Standard .... .1 IS Atlanta 8 1 11 Big Ledge yt 14 Blsbee Cop (a ptos).. 14 s;, Butte Cop & Zinc. ... 814 014 Butte New York ... j I Cal & Jeroma )) 1, Con Ariz 1 14 14 Denbigh Sliver 3f. s,, Kmma Consol 4 ,', i First National I4 2 Goldfleld Merger 3 s I (ioldlleld Cons ,, ,', jOoldfleld Florenco ... 7 10 Cioldfluld Kewanas ... 3 s Ulieen Monster V, "4 Heclu Mining 44 . 4i Howe Sound SV4 3 14 Independence Lead... 3 s Jciome Veide 14, 4 ' Jim Butler 72 7S Jumbo Kxtenxion ... 13 IS Magma Copper 3714 3V Mother Lode 27 28 Mines Co of America. IVi 114 Nevada' Hills S IS Nevada Wonder .... 114 14 Nlplsslng 814 84 Ohio Copper ', Hay Hercules .1 314 San Toy 0 11 Stewart 14 A Tonopah Kxteuslon.. I 114 United Verde 34 14 .10 'West Knd Con 6 4 67 11-3 A 814; Hj 4 1 In 1 2 A a! 4l 14 314 White Oaks White Caps Yetlngton . . i 11 IIOMIX . ... 0614 12 1U . laskell t Granulated Sugar Unchanged Bethlehem Ss Covucii Oil 6s. ... in Cudahy Ss 04 Russian (iovt S',s... 38 do GliS 46 Southern Railway Ss. 05 14 Sinclair Oil 6s 92 07 is 07 31 48 06 4 loon 11.32 67 14 1 t 84 37 7H New Issue $6,350,000 Cities Fuel and Power Company Two Year 7 Secured Gold Notes Dated December 1. 1917. Due December 1, 1919. Authorised, $10,000,000. OiUstandiiiR, $10,000,000. Interest payable Junelst and December 1st without deduction of 29 , Normal Federal Income Tax ' Callable in whole or in part on 30 day's' notice at 102J4 and interest. Coupon Notes, $1,000 Denomination. BANKERS TRUST COMPANY, Trustee. Pennsylvania Personal Property Tax of Four Mills Refunded Guaranteed at to Principal, Interest and Sinking Fund Payments and as to all of the Covenants of the Trust Indenture by endorsement on each note by ' CITIES SERVICE COMPANY HPHtiWr Juin; ieiwii, . Int HITX J,.inv,, no "o rr.r -R Int Nl'ksl'vf. ,J0S J!"' Pir. l-d t!i'l Inter Paper ... ".Vi U C I P r 10', Iowa Central 4'A '' 5 C'P.s- nf ,n' toi Cent pf..10l ' E'nss, r-w-l T-- SS4& 1T H I..H 4l Ke ..,' . T.JJ Ut.l.,l.l.l1,lt. Cm An VTt-nr TTITJV TV.- ,S -u- -J ' '""" eui.iraiiiS ..." .,,, m.. o. ,jic iciineo. sugar market continues unchanged, with ?'u1rrirStaPtc NEW YOBK COFFEE MARKET National and Pennsylvania Companies NKW YORIC, Dec 18. The market S.6c. The Federal and the, Warner for coffee futures opened fairly active Companies and Arbuckle Brothers re- for late months, call prices being un malp withdrawn. Ijist sale In Cuban changed to an advance of 6 points. The raws was 3.92c. The International Com-, demand for July contracts was Jielleied mlltee yesterday purchased 07.10 hags, to be a continuation of buying for Ku Venezuelan afloat at 4,044c inpiaii accitinl. poKillilv Knglaud. Extra by American Surety Co. ih-nmi-r NR WYOIIK, Dec. 18. The American' foTJn1. Kllretv l?omDaill' has declared tha rn. t.iK. I. . Ir quarterly dividend of I tj per cent I Xei'lember .. 7 71' 7.i3 and . per cent exinr. iiom ate payaole .Ktlly-Sprlns. .. S8J4 V ftes'lv ton 1SU leledn Oas 10 ' la'i Se- r,, ii l.al!Erte W'.. ' Vf.Car Chin pf. H LVTrl. W nf'7, ; ' p.e n n. I7H Ll M T..,.IJt White Motors,, ss Lis A Mrsr...m., IVIIson Co ,. .,40 Lis- M T pref, 100J4 IVIIson Co nf 1)0 Lss Buo Tlr. 12S vi.reptral ... 3) .Lob Isl ,cfi st 40 Worth P rL M More Gold for Mexico. LNEW YOHK, Dec II. Gold coin to HAIMtOAD EARNINGS the amount' of :t0,000 has been with- , CANADIAN PACIFIC drawn frnm 'the .Subtreasury for ship, , - . ll7 - , increass , er.--". -... mr-v 4j "';. .1 ';,i..ni Oln llluh.t.on' IMos.' I. IS 7.1.1 7.2: 7.112 7.1.1 7.30 7.08 7.1.1 7.33 7 0.1 7. NO 7.1.1 7.31 7.0.1 7.SJ Yesl. Clos 7.11.1 7.07 7.27 7..VI 7.70 December 31, to stock of record Decern, ber 22. ' GOVERNMENT BONDS 2s, resistersd. 1830 2s, toupon. 1930 . . Ss. resistersd, 1818 3s, coupon, lais 4s. real Jm. nunoi Ss, resiaterea, ipse Rid 01s BOi, "a. 4sk 0.714 X I upon. IMS Js OO'I slstered, 1026 ......... .103; 10.1 I upon, .IMS . 10844 10S All .i".'saaa4 to-Heexlaai'n' , 1 HevoisJ week, Osw. r,, l2,00S.OO0 ':ilv.ooo SsS leupon, l4r.i, ..,.,...,, o ... We summarize from a letter of Mr. Henry L. Doherty, President of Cities Serv ice Company, on. file at our office, as follows: SECURITY These notes are secured by pledge to the Trustee of $16,750,000 par value of bonds and notes, and by the pledge of all the stocks, except qualifying shares, of five subsidiary companies. INCOME The company covenants that the collateral will be so maintained that the income from bonds and notes pledged, together with the earnings applicable to divi dends on stocks pledged, will at all times exceed twice the interest charges on notes of thisMssue outstanding. SINKING FUND Minimum Sinking Fund of $125,000 quarterly. GUARANTOR Cities Service Company has outstanding in the hands of the', public Preferred and Common Stocks having a market value at preslnt quotations of approximately $100,000,000. Net earnings of Cities Service Company for the twelve months ended October 3!, 1917, including undistributed earnings of subsidiary companies applicable to dividends on stocks owned by Cities Service Company, were $18,369,353.48. PURPOSE OF ISSUE The oil properties of subsidiary companies of Cities Service Company are now producing over 45,000 barrels of oil per day. The proceeds of this issue will be used in large part in the further development of these oil proper ties, which work is of importance to the Nation at this time. LEGALITY All legal matters in connection 'with this issue of notes have been . approved by Messrs. Roberts, Montgomery & McKeehan,. of Philadelphia. PRICE, 99 AND INTEREST, YIELDING 7V.0 Descriptive circular upon request 14 Walt Street New York MONTGOMERY & CO. 133 SOUTH FOURTH STREET , PHILADELPHIA Union Bank Building Pittsburgh This information and these statistics art not guaranteed, but have been obtained from sources we believe, to be accurate. ...Ii,,... -mV- 'I In Pt X 1 o Cl d d h mB e f. v ii Q tl ti b ,b d m ti a o a a It P a ti P P b c P Ch b E n tl bi Bl b 01 1 -,Cl t) Cl t P P' tl tt P i Wrt cl :V fa ,Tl to , 11 . ' r- , j: v -v., ,':T JE1. .K,f !l''A ..a..l
Significant historical Pennsylvania newspapers