' KrlT '-? : wfcvWWii!ISK Err va "1 v TO8NIN0 ' PtfilC LE"DGER-fHliADELPHIA. MONDAY, - ' V'" ' -'v PEOBMBEtt 24, 1917 NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES - . tv-. MMCK CO. aWl 'W. KCURltlKS w ' GOVERNMENT MUNICIPAL RAILROAD AND PUBLIC SERVIQE CORPORATION BONDS K, Mitt CHESTNUT STREET 1 i, PHILADELPHIA H . NEW YORK MARKET IS STRONGER, WITH MANY LEADERS HIGHER! New York Stock Sales Alaska O Mine 1 , ' "Alaska Juneau. 214 Bulls Find Much to Cheer Them for Christmas' '" JSii'sir .. ! Arner cnn . . . aa Am Int Corp 8114 Am Cotton Oil. 24', Am It & Loath 11 rlncome Tax Primer 'JfV . Fir tl. hattMul Taip.jrr F'The Internal Revenue Bureau hu just prepared a list of jMore than 100 Questions and Answers on the Inrtimm TVrv .ami 'V In this official educational treatise the law is fully cov- . ered and its technical phased clarified. 'For the convenience of indi ' viduals subiect to tax. we ;have printed this information I 'in pampniet form, a copy I ) will be furnished upon request iuior tax literature ir"ii-150. TheNationalCity Company I421 Chestnut St., Philadelphia Chicago rw York Bolton San Francisco I'ltt.burili I Vasal Short Trrm lofe, Icctptancti lli. le? modest accounts share with the larger ' accounts our careful service. i. f r. . iCWtN EXCHANGE NATIONAL BANK ? Philadelphia. Cheatnut at Second New- Dividend Payers When dividends be gin. It generally indi cates that the officials believe a property Is on a substantial earning basl These live stocks, traded In on the New York Curb, paid their holders the Initial divi dend reward In 1917: vvvo CON. ARIZONA (Copper) UNITED EASTERN (Gold) K ELK BASIN PETROLEUM tP ISDDBTMAL ffVU. ,,.., r.r.r.. QMIVICS 3IUX. . 8 Srafl for sD.lrllral report outlining !t the ptnltloa ,f the, lire dlildrnj ... nmm war nmport OJO-I .u. JONES BAKER STOCK BBOKKKK : WMeaer Bldf., Philadelphia ' ' Hell. Walnut lcuo.l. Kejatone. Ilace 221W. '., .Now York lloaton ( Chicago Pittsburgh OlrrcJ Private TVfrcj. f ll JONES 4 BAKER. L,nmiirr0iaff -miauelpifa. ra. Ei.r " '"' ..,u,.,n" your report IJon A new uivldtnil payera. nXamt t..j, , JUdrtsm- , .............. U30-T.U. ! ANNUAL KLKOTIONW . nUC'fKNN MUTUAL Ufa jAsuitT PhlladelDbla. December ?? ioiv i Annual KMctlon (or nine Truateeato I ! 7?.ara wl" b? h1'1 "i Horn. LT.tfeo Company, In th. !, iiufS,, . Oliin ana ivamui ata . Phlladel. ' , Mnar naarr 7. lia, bv I hour ot 10 00 a m. and SOO p ra. i L JOHN HUMI'HBETB. i neretary and Treaaurer- nUE VABJUHUJ ANU JUSCMAMCS' '. ; NATIONAL BANK 1 ' .. Phtladalsbla. Sec. "4 loir ' aiva ivwwii ur iroiorB or mia 1 b held at the Banklnr Houae on. .. ffr January. HIS. OW. BTOTlSeBUHT LEWIS. Caahler. NATMNAL BANK PHUa4lMa. December 8. 1917. Mat liat.ap( to StockhoMera n ai viraciora ror the enaulnr bald at th. banklna- houae Mtur . ltli. between 1 M 1 QToaoea; p. m. , i M. Q. BAKER.. w " - Caahler- Holiday French Bonds Advance Again. ' More Peace Rumors Afloat Ni:V YO!tK, IVc. 24. There was a comtilnatlon of business and plcnsuro on the New Yoik Block Exchnnge during the flvo hours of trudlnc. with the continued up ward movement which started on Thursday afternoon. nialtltiB fco much more progress ns to cntltlo the market to be called a "bulls Christmas." Hut tho fact that It hnd been preceded fcltico tho beginning of the month by such severe losses made this title more technical than real. Oalns ranging from 1 to f points were made in many stocks during tho forenoon, and some further advances were recorded during the ufttrnoon. United States Steel common, which closed on Saturday tit 83S. Ud vanccd to 85?;, and a gain of more than 2 points wus made by Ilethleheni Steel "H," and n number of minor steel industrials, Including Ilalduin Locomotive. Texas Company was up more thuu 5 points to above 30, and Amer ican Tobacco rose moro than 0 points to 135. Thu greater part of thcxe galns were well maintained at the end of the day. Railroad stocks at times showed strength but u acted qulckl. Anaconda responded to tho declaration of the regular dividend, with an adMince of 14 to 5G7S, and moderate gains were m.ide In other copper shares. Moro Interest was attached to the wur conditions In Kuropo because, of the advance of 214 points in thu City of lloidenu 6s to 8.V4, compared with the low 71V4 last week. Nearly all the movements demanding at tention were made In the llrst two hours of trading, from then on business was neglected. Many peace rumors Hooded Wall Street In the eaily afternoon and probably accounted for some of the strength lit th eso-callcd peace stocks. There was a report that a peace story was coming from Lon don. This may lefer to felicitations which are to be sent by Ureal Britain to the United States on Christmas Day, and which, uccoidlng to a London dispatch, will be historical and unique. Footballs, baseballs and candles Hying through the air on the ex change, with a continued scrambling, of the brokers In horseplay, canted a general neglect of business. Nearly all interest in tho bond market was attached to the trading in the foreign government Issues. Large sales for the City of Tails (Is were made at prices ranging from 79i to 83V. Interest Rate on Next War Loan Until definite announcement is made us to the late, of Interest on the next war loan theie Is bound to be some confusion In the lncst ment markets. Mr. McAdoo has persistently state that the rate will not go above 4 per cent if that can be avoided; et It Is the opinion ot bankers that to attempt to lloat the next loan which probably will bo one of great magnitude at lesi thuu 4.25 to 4.5d jitr rent would be liazaidous, ns there Is nothing that would be productive of mole harmful results at this time than tho fa 11 mo of a war loan. What tho Tieasurj Derailment has in mind, liotvuei, is the avoid ance, if thut is possible, of the futthtr depreciation of high-grade Invest ment securities. The fact of the mutter Is thut pi line railroad Invest ments that sold to yield 3 80 to 4 per c it ptlor to the war are now ituoted In many instances at 4.50 to 4.75 per cent, with governments at 4 per cent, and with the latter at 4i per cent it Is ery evident that there would be created an additional margin of dlftcience In Icltl that would force further severe declines in quotations. Yet with the taxable 4 per cent bonds selling to jield 4..-J pir cent if held to matuiity, it is manifest that a 4 per tent bond would not be likely to sell except on purely patriotic motives Some of our Congressmen piolei-s Inability to understand the de preciation In lallroad secutltles Theie lias not been heav) relllng. the) say, bo investors surely must not be silling. In other words, they blame It on Wall street, which cannot vtr) elTtctlvel) answer the chari-e. lint Investors huve been tightened, extremely ho. and that their selling lias not been of greater proportions has beer duo to the tact that they huvo been unwilling to take the large losses that would be necessary with securities quoted t.jund their pi cent level-. Holders of the high-grade rails that are now below par have little to fear fiom Cov eminent regula tion, but It Is well to emphasise at this time that those who own the stocks of the few highly watered carriers should avail tlieineles of the opportunity to switch Info the stocks and bonds of companies whoo capitalization Is moderate. Christmas Not What It Was Christmas this year In Wall street will not be like that of ti cai ago or 1915. .Clerks who received bonuses today were few and far between, and there was as much rejoicing oer a $10 bill as there was last year over $100, $200 or $500. Thut was because It was so unexpected. Clerical htaffs are much smaller thun they were at this time last ear. There has not been the business. And houses have not been making money. Those firms which specialize In the Issuance ot new secuiltlcs todav gave very little, as In many Instances their shelves aio cluttered with unsold securities purchased months ago wholesale at very much higher prices. Bond houses have been la)ing off some of their salesmen nnd 1 have been making no effort to replace thoso taken by the draft. Several firms will go out of business aiound the flist of the )ear. Hut these are the smaller ones. It is usually prince or pauper In tho vicinity of the New York Stock Uxchange. Since Congress has started discussion mi .1 lecommendutlon to utilize the vater powers available on navigable sti earns and public do mains for private development for a period of fifty )ears, holders of se curities of public utlllt) companies which Have pioducwl power fiom water for many yea'rs have lost much of their nervousness over the out look. Aside from the added expense ot labor and materials. It is Important that the cost attached to tho manufacture of electric power from water Is no more thun in ordinary times, while power generated from coal has Increased normousl). t ..1 majority of what can be classed as "v,ater-powcr shaies" are at pre-war levels and 20 to CO points under the high of 1917. Montana. Power, which has used this practice for a longer period than tho others and now generates all Its power from water. Is selling to tcturn better than 8 per cent and shows the maximum decline from its best price this )ear. Some concerns that use wuter-power exclusively are Mississippi Illver Power, Portland Railwa) and Light. Puget Sound Traction and Light, Adirondack Klectrlc Power, Niagara Kails Power and L'tali Power and Light. Some time ago the recommendation was made for an exchange from Krle common Into Southern Hallway common. Then both were selling around 30. Tho one lately hus been quoted at a discount of'lO points from the other, while Erie first preferred is also below Southern Hallway. When the switch was suggested, Erie first was selling 1 lose to CO. Why Discount Rate Was Increased The object behind the incrcuse In the discount rate of 4 per cent approved by the New Yoik Federal Heservo Bank is to clear the way for future Government financing. Tills puts tho ration an equal basis with that of the other eleven distticts. An official of United States Indus trial Alcohol states that the uctiou of the Government in placing the country's entire output of wood alcohol under the control of the War Industries Board is due to the growing scarcity of the commodity and that no sales -have been made for several months In order to conserve the supply for war purposes. Wood alcohol is used by the company as a denaturer for .idustrlal alcohol, but It Is tindei stood that the company has already cut down on its use to the 10 per cent required by law. Like the United States, Canada is struggling with Its labor problems, The situation Is becoming more acute than previously anticipated. It was generally believed that tho coming of the fall nnd winter months would bring back to the various manufacturing industries many laborers who were o'ccupled in outlying districts. Each year this move ment has occurred, but this season has been different. The customary Increase in supply has not materialized and, in fact, there has been a decrease. This is making for higher salaries all around. It Is believed that pleas will be more forcefully made to the Govern ment to have exempted from military duties those men who are more advantageous at home in their capacity as a producer than as a fighter. NAL BANK. r 14.191T. sraotori of this usw nouaa on ewiwatn u WK,T.,anmAB, - usr. NAL kUVK m. . ,MIT. iWW Public Utility Notes The large interest of the public in- the condition or the public utility plants of the country Is indicated by a statement Inch ded In the report of O, B. Wlllcox, of the publio service securities committee of the In vestment Bankers' Association of America, to the organlzrctlon. This points out that "more than $4,SOO,000,000 are Invested in electric plants, pearly $5,000,000,000 in electric railways, $3,600,000,000 in gas plants, $1,500,000,000 In telegraphs and telephones and probably $500,000,000 more In equipment and supplies (for these utilities In (he hands of dealers a total of $16,500,000,000 of the people's savings devoted to the conservation of" energy In the public service." The report states that no class of securi ties is more widely distributed than the bonds and stocks of electric rail- ' wayv gas And pewtr and light, telephone and other public, titlllty com ' 'lianliM, aflHk'iv wage Iholdlnge' 'are aaMlfand are platted among a mulU- tovtiirv,-.'ia;veiii " 'tvb. jLf.i'LViy 4JV 117 4 I) ?ltt Low 1V4 Ml. ltt AS 31 A3 mi tiV. tYt U'A 111 40 II V4 Net Clnaa chK. a 4- i A6 3l"i n-iy. 2iV lis UV. LIMITED OFFERINGS SEND CORN HIGHER Prediction of Coming Cold Wave nnd Strength in Cash Article Cau.se Buying Sales in Philadelphia ' CHICAGO, Pec 24. "A A good general demand featured the a ! rmn inarknt tndnv and fin nffprlnen were 7 4 IV4 rather limited prices were higher One ftliVii MVi f the incentives for tho buying was the J ' prediction of a coming cold wave, but l1 4-1 the Rtrenirth In the rash situation also 10O!, lno toovd 4- U , caused purchasing (ion 88V4 Boy, 1TS1 Itccclpts were moderate and quotations oil B.1V4 lVi.ii the cash market were higher. The , 101 zy weather conditions since last Raturda) IJHVfi 134i)i 0V4 generally wero favorable. Shipments los-i 4o)i -r- "4 from North America for the last week 23 Mi , amounted to 192.000 bushels, coinnarcd . II do pref Am Linseed do pref . .. tn 1-oco . . Am Unit Am Smelting do pref . . . Am Sum Tob Am Steel Kdry SSii Am Tel & Tcl.loi Am Tobacco . I3S Am Wool 4ini Am Writing- V 3 S3 Am Zinc & L. I U Anaconda .... .V)' 31 .Atchison .. .. so(, 1SV4 1 do pref. .. 70V4 W4 At Gulf & W I lis III 1 llald Loco Co.. 37 34 id Halt & Ohio.. II HIM, do piet .. . 30 Kt All Itarrett Co .. Hi Sii Ilet.i Steel 7i)i fl'l do II. .. . 7la Oll'.i do pref t r tit lit llrooklvn 11 T. 3H 37T, 'Hums llros .lli'A ltl'i. Hutte H Cop. l.-.i-i 14H Cul Petroleum. I! It do pref . 3J 3ti Canadian Puc.lttiVa J3I4 134H, 3 HUh. Low. Close. 10 Alliance I in 10 10 37 Am (Ins. in- in 1ft 30 Hnhl Imc M A4)i 54")i 1(10 II & S pf All Aft A!) SAO lllec Stor 43 43 43 lOKrle .... 14 14 14 OenAspf .. .. f40T(, 300l.lt Sup C ltli 11 1144 107 Leh Nav. AftVi Aft'A A Net l chRe. Y, V4 1 J- NEARLY EVERYTHING RECORDS GAINS ON LOCAL EXCHANGE -J with 38.000 bushels last )ear. 3'l i 33 M, 3(1 M: so 2H? oy 2ft11,, till 4HH, lliVt IK 170 3.' 14 H'-i n4 40 .10 V a I4I-S, 14414 IS 4 V., u (IV. II.IV4 OH St '4 HI H4 Cent Leather . AOSi AHV4 l.'ns tie Pasco . 2Ht '4K ('hand Motors, no 03 )i dies & Ohio. It 4 1 CM (it West pr 1H IK Chi, M . ht P. 30 37 Vi do prof . .. HI'V, (,l C At Northwest SOU so c, 11 1 & Pact o 17 in', do i p c t c. 37 .iu Yt do 7 p c t c 13 IIMi Chile Copper ..It's, 14V. Chlno Con Cop 3ll'4 3Vi Col Kuel & iron 31 33'4 Col Gns A: Lice aiHj .!(, 1 Consol Gns . (! 7014 , Cont Can .... so s-. Com Products 2!Hi do pref on Vi 1 Crucible Sticl. . Sll'Ji 1 Cuba Cane. Sug 37 Pel & Hudson, lis i L & W .. 170 Distillers .Secur 33 Domu Mines . 11 '4 Krlo It do 1st prf . 401, 'ilastun-Wlll. . 31 (Jen Kleo Co (ten Motors (loodlleh II P. 3.1 (It North pief H4 "It N Ore subs. St1), Gulf btate Stl. HI 111 Central . H7 Int Agrlcul . 10 Inspiration Cop 4()1i lilt-Cons Corp. O'f; do pief . . 41 Int Hur of NJ. ll(i4 Int Mer Marine SIV4 do jiref ... . MOV, Int Nickel . . '47 ' Kelly Spilllg 3S Kenne Copper. .10 ( Lack hUcl . 7 1 "4 Lehigh Vallev 31 Lou's Nash ION', Max Motoi -4 I'), do 1st prof A5i do lil pref . '41 lex Petrol ti't Miami Con Cop;o' M A. r-t L new . s Mldv.il- . Ui -Mo Pac . . 13 Nat Con . Cbl. I.TS, Nut I Hlscult . . 00 Nat Hn.im A. St 3S'J, I Natl Lead . I(H N Y Air lil.il.e. lie 'New Aork Cent (lll-j N Y N II . II. '4S V Y Ont X. W. to-) orf A; Wet . 117 V4 Nor 1'acltlc . . . 7H1, Nova Scotia S 0t Ohio Gas . . . 31 Ontario Silver. A Owens Hot . S3'j Penn n 11 .... 43t4 1 Peo Gas &. C. 37 Pero Murquette 13 Phlla Co . .. '4n' P C C At St L. .-i.-t Pitts A West, so' 1 Pitts Coal ... 40 Pressed Stl C 34 df pref . US " Pull Pa' Car. Ill Hy Stl Spring. 12 Hay Con Cop Heading . do 2d pief Hep I &. S do pief . . 1 Hoal Dutch . St L S P . . Sea A L pief . Shattuek Ariz. Moss-hh S d I 33 Sinclair Oil .. iDYs Southern Pac . 7014 Southern It 11. 22 do pref . . .All Sup Steel . . . 30 htudebaker ... 45"i Tenn C & C vv I UT Texas Co 1 3(1 Vi Tobacco Prod . 47 T Trunsue Wll . . 39 Union Pacific lot s. 104 Unit Alloy Steel 33Vj 3A Unit Cigar Strs Hi) H7 U S Ind Alco.114 U S Hubber. . . Ill U S Smelt & It 4314 U S Steel.. .. S3-)! do pref 104?. 101U 104T Utah Coppei . . . 7(i Ti 75Va vu uar enm pr 117 t7 Wabash .... 7Vi 7 do pref A. . 37 3711 do pref H . 10 ls4 West Union Tel noli 7014 West'house JI 37!ii SflVi do 1st . .. A2V4 M't Wheel & L U. . sh, K Wlll)s Over 18U 1SV4 do pref . m 70)4 30 -r!14 The high on December was SI 27'i 7SV4 V4 I the low $1.27 and the close $1.27. 1 7AV4 4- J compared with $127Ve. Saturday's last 1 07 - 14 1 price. The best on January vvuh $1,2C,4. A0V4 sye'tlio low $1 25Vr and tho close $1 25' I0')i - 14 bid, (ompared with $1.25H, the llnnl quo AOV4 t.itloii of S.iturda) The best on Mil) S44 'li wus $1 2ri. the bottom $1 23 and the 71 1-214 final $1 2i2. against ?1 23B, Saturda)'s 71 -2 ' tinal price. 03 1- 14 A gooil (leinutid fiom commission und 371 '4 shipping bouses and from cash firms' 1I4V4 - caused udvaiires Itioals, u'.though the I3V4 -1- 14 sir nglh in torn and the tlrmiiess of the II "1 cash ui.irl.els also caused a bullish feel 33'4 Hi Ing around the Pit It was the general Impiesslon that the 41 Mi purchases for tho account of the ship-1 4-1 1 ping houses were at least In put for lorelgu Inlciests. At best the selling was moderate 1 The high on December was 78sjC, the low 77c und the 1 lose "SHc to 78Vic compared with 7G?s'. the llnal quotu tlon of Saturda). The oest on M iv Id was 75'4c, the bottom 74ysc and the Vfc Ileal 7538e to 7f,4e. against 74',4c, Sat urdn)'K last pi lie. leading fiiturc-i rntiBPd as foilowa: Hnt'ilin.'-. ni-en iiiko torn (11PW 1( llv 'TJ I Die 1 -.'TV. 1 .'f'a Jnn 1 L'1'4 1 .'H' Mny 1 2 'ii 1 .'1 n tin I'er 77 7SN 77 7S 7; Jhii . Til' 7"' Tl.'j 77ti t70' Ms nil 'TH'i 7S 7(l' 77 7(1 JIn 7l'i 7-.' 71 73 7l'i urii 24 Pa Suit.. 7714 20 Phlla Ulec 23 04.. 1' HT t c 27 V4 10 Phlla Trc 70 120 Heading. . oK, 10 1 A Ton Ilel.. 214 430 Ton Jlln. 314 Un Trnc. . IIOI 30IAU S Steel s,1 3 7714 23 27 10 0B 3 3V4 Toiiopah Belmont, Which Is Most Active of Home Shares, Is an Exception to Rule of Strength. . Pennsylvania and Reading Up a Point in 11, v ' S? , JJi? ? T1, loCttI "- ""rk showed lm- ' ;'lnl' " "? " -Proved activity and generally It was ,Jld," " J' I 'i J "trong today after a fulct opening, and L,n ,A A.r V, , considering the absence from the city B1.1 Pcnna ltli 4.1 4214 43 t for Chrlatmns nf -,,-,v f !.-,. ., e. for Christmas of many of those who are UaUalll leflfllnrr li.i-.-A-a n.,.t bbIUm ll-- 4 turnover wan lnrrpA rl.A nnlli.ll.. I.,-.-- V . ever, was confined to a few of tho local 7714 2314 2114 4- in i.- 1 " -"B connneu to a lew 01 mo local aau. IT ' lcnt-ers nn,l United States Steel common, Sn? t !nlthou-h there were transactions in more " stocks than has been the rulo under 4-in " I nor'nal conditions lately. nit ' ' Tonopah Helmont was by far the most ait? Li inctlo of the homo shares and was one donrcf lniiK. loiti niiriZ J-I4 , .. ."n issues on tno 11st mat was w ivom,'. I", Inclined to weakness. Uarly In the ses- tQuotatlnn given Is S,lurdu,"s close. "Trter la T"l Jh,B" 2 J2.nd" .1? .1 - .- .' lun-l.wiu JM IC-3 U Xrt -'! for many )ears. but toward tho ih'. close there was a slight recovery, but mo i.uwinco uki noi carry tlio quotation up to last night's close. On a moderate B4M IIIIMIS 10 Mono Interstate H)s 4s 40 3330 Lib Honda 3'i IIR.30 Oft do Is. Iil.lv (17 000 I, V cons I'js'OS ft!l IKK) Phlla Lieu 1st 5s. 01 1 4000 P 11 te W 4s ... lij Close ft!l s lo - ini"mo-u,,t of ,raulnS Tonopah Mining was it in n Un nn"Bt'd. a 07.10 .40 1 j,anl(, TranRt trust certncate. .ho.a a fair amount of actlvltv and. nficr 03 3H AD! 2S (HI 43 IS :i7'4 01 "A so "4 17 t .HI Mi 13 ,, - -" ...v..fc ui iicLiiiy una, - uiviiiiik unoimngea ut 26?i, they were marked up a quarter. Much bullish com- t ment Is heard In brokers' offices regard- 1 ing tho fature of this Issue, and the I opinion is qulto general that further , gains may no expected, duo to tho proS- INACTIVE PHII.A. STOCKS 03 07 pects of assured earnings on the new lease with the city. There was no news In tho street to account for the decline in the Tonopah Belmont shares, but It doubtless came In sympathy with the sharp break In Tono pah Mining, which resulted from the halving of the quarterly dividend last w cck. Pennsjlvanla Hailroad showed a fair amount of activity and was strong, ad vancing a full point, and Heading was marked up the same amount. Lehigh Valley gained a fraction, but on unim portant transaction In Krle was recorded with a loss of In the price. Buffalo and, Susquehanna preferred was also up a point after opening, unchanged. Tho usual local leaders showed Btrength. Storage Battery advanced ft. Lake Superior a quarter, Lehigh Naviga tion a fraction and Philadelphia Hlectrlo was marked up a trifle. Sttel common was by far the most ac tive Issue In which trading occurred, and it gained more than 2 points, 'while a small turnover of the preferred was re corded with the price more than a point above Saturday's close. Liberty Bonds were Irregular, the 4s declining and the 3Vs changing hands at a small adv-tince. ..vVolsrknH,,,r,rb,eon?,,f,;,rde!!;b!HEAVY trading in Chevrolet ;TeTe,o:rr!urs,r,o,,,:..yrh!r:!,r is feature of curb market given Is tho last previous close: 1 4 114 - t- Ti 4 4- h.1 4- I,ow Close lose "l 27'. 1 27, 1 27'. 1 JV..M riT, ft --.'. 1 33', tl Jliii 1 - IS. Am On, War . IH I.eh Val Tr tf. 33 Ainer Mill .... 10 1.11 Urn- '.'i Almr mores .. SJ l.lttk KchujIMIl Bl An Mores pf.. 02 viin-hltl r.J Iluff A Susq t o r.0 NVirtll Cent . "J Jam Hteel ....110 I'hlln Co .. '.''. I till l.nii . 1 1 Yi n. .. ' n Tra- sj J, iiou n Co elen .. 4 flen Aapssit , 14 Un Co, N 1 ,.;fl1 ',"'' '.? .N A -'' t' Oa of N J..201 Key Tel urct. 64. Warwick Iron. RVi Bullish Demonstrations in Some Stocks, With With drawal of Support and Sustained Severe Losses in Others Int tipuf 1 ?! ii .... -.. Kej atone Tel . sjflU w J t Kes " 'is v"V !i"ht" .., Yon; llwy sf. lh al Tran, 17 1 il. IJ'il 34 A014 4-2 I f -'4 I),., 113 Mi 4-2'4 Jnn . 24 ' 170 2 3414 V4 i 114 1 1 t 14 2(1 t Ml 31 4 i Mny ... .-'3 (10 llltis .bin 24 70 Mn . .'.", n", I'ork .Tun 40 7(1 I Mm til! 17 Hid tAsk.cl 1 SJ 21 I.' ." 0.' 21 .V J2I 41 421 R7 .'4 11 J4 r.7 21 ,11 J4 SO New York Bond Sales 21 SO 21 20 24 20 24 On 21 14 24 i.U .'4 ill 2t UU 4(121 40 II tl" 1)0 t4(l oil .10 4 r, II 1IIH 20 Mi ?'l4 '!'(. 3S 301, 71 34 Ms 1(srH 21 .1U4 40 U 741a ;'., ii'i 22 13 'h no 3414 10 113 4H 1014 07 17 ni 34 '.13 42T 37 .11 .'(Hi 10 .-,1 111 33 Hl SOl HA S 10 III Hi ( II 11014 1 1 8014 41'i as :io 1. 74 i 34 III7.C 2.1 .14 401 1 74')4 201. 7 4 4 24 13 till 31)4 111 1111 SI 2 IDS, 1)7 77T ill 34 .1314 43 37 1214 21 A3 8U4 40 .14 J.1 2)4 DECEMBER COTTON r n DECLINES ON CALL -r , r2 -i r, Later Positions Advance 4 to 7 Vt Points Liverpool Good '" Buyer of New Crop 114 - -ri 1 rl -lMi 3 '4 21 01) 31 7 V4 110 (,li 13 10 13 1 11014 noli 11 20 (,H 31 14 1)0 tlOU 13 10 13 in 31 2S IS M:VV VOltk. Dec. 21. Notlies Involving between BOuO and iOuO bales caused a l.'-pcint decline In December contrai ts ,it the intton market opening todaj, in enntiast to advances of 4 to 7 points hi -later position" Trad ing In Dei ember contracts cimscs at noon todiy In later artlvit), howcvei, the Ue. comber lontr.ict steudlvd up, rail) Ing te. 30 45c, or 3 points over Saturdiy's close, influenced bj the lirmness of later months, which wero In demand from loom traders and Liverpool, tho latter taking new- crop months In considerable quanttt) It was nppatent also, from tho action ot the market, that the notices were stopped, chiefly bj Japanese and South em shipping Interests. The circulation of December notices evidently tau'ed considerable scattering liquidation After having sold nt a piemlum of lOw points toward the end of last week, and doting 74 points over Januar) on S.iturdav. Deceitlbel broke -1 to within 20 points of January The liquidation of the near mouths naturally checked demand for later de liveries and served to unsettle the tone of the market, with prices, casing Inck tii within 4 or 5 points of Saturda) 's closing figures Gi ueral business was quiet. Trading was eonsldeied Iargcl) in the wa) of further evening up foi over tomorrow's adjournment. "at'daj's cnmi. ui.n so 41 .in an :.'! us 2'i 7 1 2'i 11 JO 22 -S ht 2S S7 2S Ml 2S ,1J :io so HlKll Low IVMinil Allicki-l rilicll Is Ml Ssl. soon Am Por s,, ,-.H . H4l ii, lllioii Am Hmrlt t 11 oh ki SI ljlxo Am Tel rll 4s .. S4 sli ooii Amor Til .is .... mi mi 400(1 Armour Co 4Vas . S4 s.' ilnon Ati hlson wen 4s . s l si IMIIISI ,i,i r. ir 4s .. . s.'i. SJ14 iihiii lull ft Ohio .IVas. so s-,tj loco ill As . 71 74 loiKi Had pii:iu' v 1. r. -I . ' llnmk n t ,-,, iuih in ..loon Iiorik'iiuic Us .. nit. noon Oim I'.ov Is 1021 im'i iiOOO ilo As nun. . no i iin r.s niai . .ss iihiii rvnt Li-nth 1st As nil, Slum I'his it Ohio 4Vas. 7(1 .i fin t onv As . 7 1 loon f'hl lit Wrst Is . .-.J I .iiiiii C II . Q joint 4s ii.n, snoo.i c .11 & SlP rfd 4l4s ill', i.ooii do ,y 14, 701.. .loon c It I & 1 rfd 4, ill. 2IHHI fol In.lunirlal Ah.. 7.1 17100(1 cits of Purls fin,, m'j Iihiii Corn l'roil .1, '34 01 iMilin llrl.i conv 4h btr A Ilo 4'.ooo I'rrnih llfp Al,s mi, "ooo Intern M' t 4',h ni snoo lntfrl It T rrt As 7s 71(0(1 Intir .li-r .Mar ll no soon I.k Mi ilch 4s luj Kjii 30IHI l.lK Af M T 7a - llo Ifioo Mm N'Huh i;pn (Is staj HI si J, Ml. S7'. II I 7n 7.1 iii", l4 70 ill's. 7.1 7!i 111 .17 lj H4 .11 7S I'd S2', no ht SsVa 1U SI sn 71 ill S4 llll4 no NK ll.l 70 71 iiT-, ni 7'ir. i.lS 7J SJ'j 111 .'III 111 .11 NEW TOHK, Dec. 24. Trading on the Hioad Street Curb waa confused in character with bul lish demonstrations in some stocks, while others reflected an absolute with drawal of Biipport and sustained severe losses. Most interest was attached to heavy trading In Chevrolet, sales ap proaching 1B.000 shares, with tho price moving up 13 points to 90, but most of this gain was lost on a renctlon In the last hnlf of the day. Cosden was another stiong feature, about 10,000 shares being traded in nt 7Ta to S'i, and Midwest Hcflning on small transactions moved up from !)0 to 101. In contrast with these stocks Aetna Explosives dropped from 7ct, to 6I4. There was an abrupt collupse to the bull movement in Houston Oil, which .sold down from 4074 to 3G4, u loss of more than 8 points from its high price on Saturdu). It was assumed that the weakness In the issues' named was due to expiration of pool agreements. Thetu was a little trading In the airplane stocks, Cuitis selling at 27U und 2S nnd Wright-Martin at G'i and 6. Triangle I'llm was' in continued quiet demand and, after selling nt 15-16, was actively traded In at 1. Merritt Oil sold at 21 to 20Vi, and Oklahoma Producing a'. 6 to 6J. Submarine, sold at 11 und United States Steamship at 5. Mining wero generally heavy, without special change in pi Ices. IMIKI'UMIUNT OH, 8TOCKS ron'd .Sat. cloatt IMlfSTItlAI.S 3(141111(1 l.lhirtj lloiiil :tl4 IIS3H Hs.'il ns.si 7H rteiua ijpio"ives h"J,, Am Hrlt Mfg . . . Am Marconi .... llo hi a. 1 !. IVa J-1 14 I 14 ' i-l HI hii'i n-,'4 1,'lfJIHIll i 4, . (17.111 07 .1(11011 Ut. Ihl 4s 117.04 117 snillll J,ons l.s SHj s.! ...1111, Marseilles in s,"., Iihiii Minn . st 1, 4s. ai loon i k k t 1st 4s ran, Itiino Mo I'lio if m 4s. nil, (.11110 M T C & II (Is ; Ml, I I do 4Un Ml iniHI Pnclflo Tul Rh. II l'flina 4s tills 1 ) do lion et 41db 11000 1 en 4'4j( :i I tin 41,!. h lir.'l lliiiMi I'uLllf iserv N .1 As 7IH. '.000 lieaillnc Ron 4s .. sic. .100(1 Itrpb Cuba As 11114 IIJl. 1 1 IlfM) I tV. S An . 1H1, 200(1 MI, HUh ken As 111 ".((OH ht I. & H r njt.. .14', 21(1110 ilo .scr A . A4 miou Hnslird A 1, ndj As. Ill', .1000 South l'.ir cvt 4s.. 71 4MI0II llO CVt ,1s . , SIP, .loon do rfd 4s . 77", .10011 south lly lieu 4s .17 4011(1 do As . imi'-j tllonil Texas l'o ilfl 111 210011 1; s Ituhbtr As 7(1 2000 do Us .. ...100 (1400(1 P S Mori f ,1a . 114 V, S4, Tli run i MU ss', so 111 ss Ml',. Ill', 07 7(1 Sl'i in1, si .14', .1.0, 41m, 7T, so 77. 97.01 117.04 hit, SIMi .10', BIP, r.i'i so ho 2770ISI U K of tl II d 1 ,1a H7 imiiiii do a',s nun . irA, 1121 do AVjs llll'i new (17?. 334UO do Ma 1021 .. UJ loo 111', 1)7', 1111, II7U llflij hill, 111', l7 HI', Nit, 112', III', 114 A4'. A I'd 4(1', 74 Sll 77 iio'a 111 7 1'. Inn nit, H7'J iii'i n-;, tit. 1 1 l)eceml)T. Janu iry llsrch liny . .luly . .Spot . . . "4 24 30 311 44 11 127 151, 3 110 40 43 H37, 43 2014 Ilftl4 31 711 11)114 (,U, 13 10 1.1 3 A SO -I-1V4 1H 23 4- 3d 4- Vi 30 4- 14 44 Va -e- Yj HT , Am Loco pref 4-4 11 30 u 1 111 h m, 10 p m 20.77 111 111 "il'l,!! 2'l 23 J'l is .11 111 2S 1)0 2S III) s SS 130 47 4 30 lU4i; 3.1 Ml HO 111 49 13 S3 Ml INACTIVE NEW YOHK STOCKS Following arc quotations for Inactive " ,, New Yoik stocks and in which there - yH I were no transactions today. Tho price 4-114 given Is the last previous sale Adams nxrrca 11.1 tv Pet rnti DO Advance Riiir, . 01, Micii fei'trnl no Advanee Rum of 20V4 M M PtSH J 711H AJai Rubber .. t.0 Mo Par nref . . , .isu, Am Acrl Chm 77 ont Power lf. IIP, Am Art Chm of 0 Mont Power nf 111 Am e'nr & V tt 1M JJorr f Kaiex 30 . " t;. -... re .. Morris X 1.- ,.f ,,,, Am Loco pref.. 14 J A" n , . 211V, AM Malt pref r,ft'4 Jjat " , It. i.f 101 Am smelt rf A POVj ?J"' ,oik M .in Am Smelt Jl . 00 '' , H PMOO m suear 04'4 ft?,' hn fP Pf Am Puifar wet 1J ? 'nLuaM r,r.,r !'o Am Sumatra pf S3 V, '4'.M ' Pt 40 An Tol. nt new SO tt -, Vi " '!' !'. H", MONEY-LENDING KATES MI1V YOltK-t'ull money opened to day at G per cent for lending nnd re newing Lxcept that a fair business Is re ported In prime bank acceptances, tho money markets were of a nominal holi day character todu On acceptances, member on member, S per cent Is quoted and 4 per cent on members' ac ceptances. On nonmeiubers, n nominal quotation Is 4'j per cent. I'rlmo nieicantllo paper Is unaltered at 5- and C per cent Industrial loans on Stock llxchange collateral show 'a mod erate demand nnd tho offerings are limit ed. Hates uio Indifferent on Industrials or good mixed, which are quoted at G per cent. G per cent: Am Writing Paper. . Air Reduction . . . Canadian Car Co. . . Can Car & I'dy pref. . Charcoal Iron Chevrolet Motors .... Cramp Curtlss Aeroplane . . . Carwen Tool Carbon Steel Lmersou Phonograph Federal D)e Ilendee Mfg Inter-Lube Kuthodlon Bionze pr. Lako Torp llont Lehigh Coal Sales . . Lima Loco Maxim Munitions . Murlin Arms . . . . N Y Shipbuilding... Nor Amer P Pulp. . . . Otis Llevator .. . . Peerless Motor ... . Poole Lug P.edden Truck Scrlpps-llooth H S Kresgo vv 1 . . . . Standard Motors. .. Steel Alio a Submarine . ... St Joseph Leud . . . Todd .Shipbuilding. . ,'rilunglc Film I'nited Profit Sharing l' S Steamship. . '. . . United Motors I'nited Sugar . . . Worlds Film . Wright-Mat tin Air . Zinc Concent . lilil 0 3 S'.i I Hi A A 10 44 SI JJ.1 37 14 7 Mi 70 3 Mi 1.1 10 314 I 3 70 III !4 Sat close i Asl; (sale) 014 7 II 3 All 10 AO 71.. SO 7 A 3H 0 75 4 20 nid 3014 .100 i; 2 811 31 3 40 11 40 1A I GO K 10 14 US 314 7.1 .10 90 31 3 40 I.I 110 10 70 11 14 '4 73 49 ll 4 17 30 A 1 3 17 V 33 3 -1-1 -4-3 I 14 2 1 97 I 714 -- 37 -i 19 ), S0 1 37 4- 3314 4- IS)4 -4- :, 70)4 4- Hi V. ?. f?fc I' 14", m T 11 ot M4H S VI "l Me,: 174 Am T Cable 11 ft. Jn V00' , 11 J'. A-mKVnf K BK'S ii w i ni. on . ,t -.... - .. - aIIcUi-xP' hx dividend. International Harvester of New Jeraey, in . American Aurliultural. p. . Amcrleun Asrliultural preterred 1'f,, DIVIDENDS DECLAHED Unltftl iStatp InduKtrlal Alrnhoi, rfifuUr quarterly of H, per cmt on preferred. jmu. bit January 13 tu utock of record Decern ber 31 Haner Flro Inurai.c Company, oua "- " -ti ir ve-m. poiiiiiio January Htock of record Decemlter 4 I et IVnn Power Company, usual qu terly of 1 per cent, naiable February i Pacific Telephone nnd Telegraph Compai regular nu"er.y oi iv. per cent on p t irirru, jjnu4o Jituu.iiy d, 1I00KI CIOS6 ' December 31. reop-n January 1ft Kanaa CMty. Fort Hcott and Memphis, Iretrutar quarterly of 1 per cent on preferred trust certificates, .unable Januar 1, 110 lv close today, reopen January X. . Masaachuaetts Ugh tins Company, a dlvl T dend of 11.50 per share on preferred and :t5 centa per aham on new common, pay. We January IS tu ahareholdera of record De cember 2f). Vlrtrlnta RallwaV and Pntvp nfimimiiv. regular semiannual 3 per cent on preferred. n.Y, ..:; ;; ins " pri'.r Hrnwn sho, ... Ill Peoria & n'a'.i " yt BS&v?."!..:;.,H &&&& ,. rent S Am T..115H Pitt, . W,,f'I, lib Oil l Ot.W ,11 Pub serv ii j ,nl Tol & So l.i pt 30 lleadlnc lit nf '5 Ch ft Alton . I Ity stl So? nf S'au Chi Alton rf 231, taMiEK.1" "S'S Chi H V W of 1SU" Keabr.l At. rinett.t"Mv.rf lie, m i, tifje", nref "1 rol So lit nt "Jilseara.nos rret'lfn " ' Col ft So 2(1 Pf. ,? go P n Snrar 141 Comn Tab nee 27 stand MlliiSr Con O K I. ! jo gin() mil n pf 1U Cont Int Cal M J7H Rtutz Motor si,' Crucible Ml pref JJ Hun Stl 1st pref '(in Cuba Am t-tiar pf tin Texas Co rta it4 Cuba Am Ku -141T4 Tex ft Pae ' , Cuba L'nn SB PI I'l Third Ava fl Deere Co pf 91 Tldeiat,P on nis Den ft nlo.pr.. 0 . obacco Prod pr" on , n.irnlt Ed aon.121 T Kl I. sc u " 0!!.. 10 I Klee Stor Hat.. J8J4 TSti,t IV "tfi Rit ar. ' P.rlo 2d pref 1A'4 T ?t 1. A w pf . f.n ?r- l len Chemical 111 r St L i ntVt, in ' Oeneral Clear . 3H Twin City It t! ll" piiii.Aiir.i.i time, CT1?4 paper, three to four months, diSjD; I per cent; six months, GljfJ1!), per cent, FOREIGN EXCHANGE NLW YOniC, Lee 24. Tho foreign I exchange maiket, on a very narrow volume of business, showed soino Irregu larity In the earV tts5s today. , French exchange held steady, pesetas displajeil firmness and Swiss and Scan dinavian were easier. Quotations were. Demand sterling 4.7G3-1G, cables 4.7G7-1G Sixty-day bill nominal!) 4 71,il 4 71' . ninety-day bills, 4.CSU (ij 4.69 Is. Franc rubles 5 71U. checks C733,. Lire cab es 8.32, checks 8.33 Swiss cables 4 38, checks 4.41. (Jullder cables 43 '-j, checks 43, Pesetas cables 24.25. cliecksf4.30. i Ruble cables 13 , checks. 13. Stockholm cables 33, checks 331,. Chrlstlanla cables 32-, checks 3214. I Copenhagen cables 31;, checks 2 1 Vi . STAMIARII Jtf, STOCKS Illinois 17A 13.1 Ohio 4H0 Pialrlo Pipe 337 Stand Oil California. 310 Stand Oil New Jersey 401 Commercial sttt,ul " -N'ett' York. 337 28.1 243 21 A A30 343 Merritt Oil . . Midwest Oil ... Met Petrol Ohio Fuel . ,. . . 1 , Oklahoma P.ef al I lllce Oil I Sipulpa lief . . . Sequoyah ' Slnclulr -; I unncu west OH .... .; JIIXINO STOCKS "s'i ' Alaska Standard .... I Atlanta lllg Ledge lllsbee Cop (a pros). Ilutte Copper S. Zlno. I Uutte New- York... . I Cul S. Jeromo . Con Ariz I Lninia Consolidated . Denbigh Silver . first .National . .. tioldfleld Merger Cioldlteld Cons ... . t i (loldfleld Kewuuas . , ' Ureen Monster .... llecla Mining ... Howo Sound . Indepeitdence Lead . . ' Jeromo Verde . Jim llutler Jumbo Lxtensloti I McKlnU)-Darxagh .. Magma Copper . . . Mother Lode lines Co of America Nevada Hills Nevada Wonder . .. 4 i Mplsslng 1014 'Ohio Copper . . Hay Hercules i San Toy Stewart Tonopah lCxtension . United Verde . . West Hnd Con White Oaks White Cans 240 Yerlncton Ask 21 103 14 6 SMi 13 A 8 114 l'i 1 14 3 ft 4 (sale) 20U 88 u eii a 1 S 1.1 10 Oi 14 1 1ft 1 ft ft 11-32 (ll Six 10 ii 5 404 338 lMlKPLNDKNT OIL STOCKS llamett Oil & (Jas.. 1 1 ccsden & Co. .. 8 84 Hlk Hasln a 7 Federal Oil s s Inter Petrol is 13V4 Houston Oil . . ..... 3." SS14 4U 4 j 3'4 S)4 34 314 3 4 4 '.4 73 76 ' .. 12 1.1 14 31 00 39 30 40 3914 27 29 2 Hi li .. 8 13 J'.i 1?. .. 8! n 4 u 3 314 . 9 11 ft 11 "4 ii i 34 3G 03 G8 S3 n 10 1IUNBS Sll Ilethleheni Za . . . Cosden Oil 6s . . . . 7A Cosden & Co Gs 73 1 ft I Cudahy Es 04 Russian (lovt AVjs... 44 0 llusslan (lovt 6'is... 04 3 Southern Hallway ds OS 13 I Stnc4lr Oil 6s 03 40 , Todd Shipbuilding 6s 90 B14 80 M0 97 40 38 90 98 46 36 10014 , LOCAL LOANS DECREASED NEW YORK COFFEE MARKET r, , , . ,. ., ; 1 NE YOniC, Dec. 24. The mirket uuiih. aim individual deposits Also for coffee futures opened active and 0 Lower lliun Same Week Last Year DANK CLEARINGS I nnodrlch n PpMOO tlranoy -vun ". ITnderwd T tjf"ltst? Pn n ft p 'iv.:1!??? Ilank elenrlnea today compared with cor reapondtni.' day last two enral Inn isin 1011 Phllndn. $10 S17,H10 Holiday J18.73t,4.11 lloaton Ail.sil4.IIH8 82.1.111,1130 N. York 4111 llilll HSU Holiday 730.4111.1110 llaltimnra 7. mill .1111 llolhlav R.7fl7.384 St. i,ouia 3a.ius.aii iiouuay ireene Can Con 1 .14 Union Pae orer. 70 Oulf SI S 1st pf.101 J'n t Cur 8tr pf 103 Harlm.n Com llftslrell ft llarle SI Havana Elec.101 Homntake . . . sil cnnen Dru..., . J) prer,,, no .."o Jd pref... 78 KnJ PP "rd . invt uoififiiifKB . ... f", ,v," ep "rn . 1SV4 Int NMrkel pt...l03' 'Jnlted lly Inv. . H Iowa Central... i " 8 i: I V -nref 42(7 Iowa Cent pf..l01 " S C I P ft j-v i?." naiabla January Commonwealth-Kdlaon Company, rrcular t quarterly of $2 per ahare, payable February 1 to atocK of record January 15. i Anaconda Copper Mining Company, usual quarterly of $2 a ahare, payable February 23 to holdera of record January 19. j Pennsylvania Salt Manufacturing Com- pany. rerutar quarterly of 21, per cent, lpaabte January 1A aa reslatered December SI. Hooka do not do,. I'lvnuiillh Cnnllra IVimninv. r.v.,1- n,.an 1 terly of S Dr cent. Dayabla Jat.uary ID to atocic of record January 1. l'roviaent lare ana '4rui company, ream- lar quart, rly of 3 per cent, payable January to Biocsnowera ut recoro jccemoer Anaconda Conner Company, usual terly of .2 a aharo. payabla Pebruary stock of record January 19, BAR SILVER 4. quar- Jewel Tea JVBII I.IH ou. Keok ft D M l.acleae tiaa I .a l..e Hub ft Tire 13 Ll. ft M '1....1M ssu IT a t!...-.?'- 1. V.S 'nd AlcoVf ' ,, u a-neally Imb 1314 aclede Ok, ... 80 do let pref.. AO ake Erie W.. 0W V H Iluhber lit Dl k Erie WB 17K U s H ft H,f,.' ,J Utah R.n rn-..' -car cnem , u M ZJ Ll. ft Mvera..,172.. Va Coal ft Coke 48 Ll. ft M T or.f.ioolt IVilla.rareo .," "ii Uin. 1,1 cl Pf 40 IVIa Central . 3V ".. lyb'el ft L D nf 1814 iv, wilaon Co pf.. 00 XI It ft T oral Mackav Co ... 7.11, We,i p(. n r. itH Mackay Co pref A8 Weat Md 12 Mannatlan Ilch. 1 IVhlta Motora ., S4W Manhat Ul .... ! IVoolworth nf.itisu May Dept Htra. 45Vi Worth T ft M,, 84 May DtPt St p( 101 To Vote on Capital Increase CLLVKLAND. O. Dec. 24. At the annual meeting of the Qrasselli Chemi cal Company to be held January 24, The average condition of members of the Philadelphia Clearing House Asso elation for the week preceding today Is shown in the weekly statement, with comparisons, as follows: AI.L MKMllLlts) Dee 2417 Increase Ijoana ...IA77,S23,(IOO llll.3U4.000 i,,nuiiiHfi iirnriiiif; House 22.204.000 I Due from banlca., 181,27.1 OOil Hank denoalta . . Ill ' list lino Individual deposits. 401,ltli,llllil Time depoalta . a. Nil, 000 Heserve held . . , A7,. its, (sal lteaerve required, , .12 (UK 000 Excess reaervo , , , 7.8I10.1HIO MEMIIERH llESKUVl: SV8TKH ,,n .U tl. ...I. A.U ..A. ...... . ,n -fv ii.n . ..Ft, in i.uiii -,.. fiv un, inw 'inilOOl) IJ, iin.UJ'J Hraerve held ,, ., 47.110(1,000 IIO.OOO , Kxceaa reaervo ... 1.748,1)01) 1.748.001) 2..i.lil,nnn ll.720.IKM) 2. an, iii in 11,218 lino 74.0110 2S2.IIOI) 21 urui 2,ion.ooo TItUST COMPANIES NOT MKMUEItH OF ll)'0?ni't1 HYBTOH lteaerve held '10,1)78 0011 111)2,000 Exrraa rraerva . . 713,000 338,000 Decreaae. In Addition to the depoalta nbovo there Stockholders will vote upon a proposal 'were thla week 122,28'i.oimi Oovernment de. to increase tlio company s authorized " k""'i s'nt n no reaervo ia required, capital stock from J20.000.000 to 50,- 000.000. The proposal is to Increase I.OfLVI. MHVINfJ RTftrk-u to 10 points higher with continued a.m. port from outside Interests. Todn'a .Saturday's , , onenlnir cloae Aueust S.OldfS.llg 7.U7UT.98 Heptember 8. lob s. 11 sol OS 01 "'""r 8 1141)8 12 December 7.4.107.44 January .- 7.4.1W7.41 r eoruary tsis, March 7.'aiu 7!tin rll 7 II7O7.0S May 7.81&7.SJ 7.74,7.7il Juno ....' 7.S2B7.S3 Ju'r 7.8UOT.01 1IIVIDKM) XOTICK Till: l'BOVIUKNT I.1FB AND TUU8T. .,r.M.,'0.NV A,r " H-IIKI.WI Philadelphia. Pa.. 2th Mo. 24h. 1017. At a meeting of the Hoard ot Dlrertnra. held thla day. a quarterly dllldend of III (Al nrr rent waa declared, payuble on First Month 2d. 101K. to stockholdera of record on the books of the Company at the close of buslnrsa Twelfth Month 24th. 1017. Cherka for dlvldcnda will be mailed, unless other rilreetlpna ahall have been Died with tfca Company. C. WALTKIl llonTON. Isecrelary. the authorized preferred from 15.000,000 to J16.000.000 und the authorized com mon from 415,000,000 to 135,000,000. Jim llutler MacNamara i-aiu TONOPAH BTOCKS I lKS T1IF. nill. NATIONAL BANK mVSf Philadelphia, December 8th, 11)17, Tha Annual Election for Dlrectora will b, held at the llanklna Houae on Xutiamw. January 8th, 1018, bftwecn tha hour, of 13 pool, and 1 P rn. DO O. HOWAHD WOLFE. Ca.hl.r. va... . . r, f... a i. . . illdWiV liter nam salaries Adjusted M.jpiiii Ext.n.ion Danger of a breakdown of the Torres- J!0?.1"...! dale filter plant through resignation, of Helcu. Eulala WW 'i Extra by Manayunk National Tiie Manayunk National Dank has dc i dared the tegular semiannual dividend lot I per cent i and an extra of "2 per eetit; ,1 payable Janpary ,T to MiapM'kiMmji wfe men to take, positions In munitions nlanti has been averted by a readjustment of salaries, according to .an announcement made at City Hall. RAILROAD EARNINGS , ItOUISVILLE AND NASllVILLK 101T Inereasa Kecond week Dec... I1.834.09S ss.4Hn from January !,.. 72.S8D.700 10,983.833 -- 1 j-.rcfri. :Jau. f. Hid ,73 .1.1 .03 .01 .117 .1)4 .OH .60 Weat End OOLDFIELD STOCKS Atlanta 07 Hluo Dell ul Ilooth ,,.... ,03 Dlamondlteld 11 11,., 01 Daily ,',......,.., 03 Kewanaa ,., t, ,04 Oro ,, 1 Handatnrm Kendall , ,01 Silver Pick .03 MISCEI.I.ANEOU8 trl.onapnlt.e4t .,....., ,,..,. 13 Ask .70 .18 .IIS Ul .11 ,1111 10 ,u M .OJ .0.1 .).' .1)3 .III .11.' .03 .U3 ANXt'AL MgKTINOS SSjUB U1KAKIJ NATIONAL U.VNb, dt? fblladelphla. I'.nna. ' December 10. 101T Th. Annual Meeting of the Stockholder. IWl nf this Hank for tha election of Director. a for the rnaulng year will be held at tho I tanking, nouao no nouin nira at., on lYrdorsJay. January 9th, 1918. at 11 o'clock m, Tha poll, for tha election of THrectora .VI II rtmain onen until one mi o'clock p. m. rH.BI.E8 M. A8HTON. Caahler. 7 DIBKCTOKV OF ACCOPNTANT81 v-r IJtWRENCK k. nnowN d lOin tlKAL. KBTATA inUOK B fXVKRTIClATM f. AUJIJHT fA. CCMtJSJttATIOH ft 'PIUPUTKP :fc,r 8X ( . i&. wi . r 1
Significant historical Pennsylvania newspapers