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.' NT 'I
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A
4
v-s as
EVENING rUBLIO LEDGER PHILADELPHIA, TUESDAY, 'DECEMBER 0, 1918' -v
1
L.i'-' u
NEWS OF THE FINANCIAL WORLDNEW YORK. AND PHILADELPHIA STOCK PRICES
fe
i;, - , ' . ,, ,
" I ' , t "X i
m
-4
'.
V
fO
feV
''
'.America's
- Wealth.
nnd general prosper-
ity should soon be re
; fleeted in the demand
for good investments.
The extremely liberal
yield now obtainable
from many sound se
curities suggests prompt
action at current prices.
Wc offer Govern
ment, Railroad, Public
Utility and Industrial
securities at prices to
net from
4li, to over 9 .
Write for our list K-12
handler & Company
Franklin Bank Building
Philadelphia
Xtw York Bos' en
BULLS ARE IN FULL CONTROL
OF NEW YORK STOCK MARKET
Stampede of Bears Starts After Publication oi Unfilled
Orders of U. S. Steel Corporation Most Indus
trials Score Big Advances
New York Stocks
J.ow
Co
61
67
4'i
Cloic
06
254
CI
67 ..
4
PROFITS TO BE
MADE IN
COPPER STOCKS
Tha commercial demand for
Copper hotli at homo and abroad
Is unprecedented In its history.
Many Copper Shares uro now
selling at less than half their
market prices In 1917
Send for our neel)l bulletin ei
nlalnlnr why iWrwr ftotki nre
now llarsaln l'nrrlie mill Jar
Jlelow Their Intrinsic North.
Thin Skoulil lie In the llandi of
3;iery Iniefclnr.
We aro also recomnicndlnir a
Silver Stock that Is destined to
rwvupy a Wdlnif rclvion In the
silver world. Full information
sent upon reqnett.
Winslow Taylor & Co.
Members Conollilatrl.
Stock K.eliane of ew rk
436 WIDENER BUILDING
Philadelphia
Phones:
Walnut 6586 Race 5 J 96
High Points in Today's Financial Netvs -
Ntocks made substantial advancci on Xew York exchange, with hulls
in control and bears stampeding irhcn announcement icas made that un
titled orders of Vnited States Steel Corporation on Xovember SO were
SSS.6S0 below those' on hand on October 31. A much larger decrease had
been expected, oiriitg to the signing ot the armistice and virtual arrival of
peace. War-order issues dropped to new low level on the Curb. Corn
business teas fairly large and December reached new high price. Cotton
u-as incgular. rorclgn exchange remained dull and uninteresting. Har
silver teas unchanged.
Sow Yorli, Dec. 10.
The bulls were in full control of the stock market all through ,tho day,
and It was not Ions before a stampede of bears started, which becamo
most pronounced after the statement of unfilled orders of the United
States Steel Corporation was published.
Tills statement came, ns a comp'.eto surprise to the speculative ele
ment, showing n decrcabc of only n llttlo more than ,200,000 tons In un
filled orders, although every ono had been led to expect that cancellations
by tho Government tv&uld cause u violent rr.nrklnir down of the orders on
tho corporation's books. On tho advance which followed tho publication
of this statement, United States Steel common was bought In its old-time
larpo volume, advancing to 00, a pain of nearly 2 points for tho day.
Thero uas similar buying of all other steel industrials, nnd gains
ranging from 1 to 4 points were made in this group. Tho strength ex
tended to all the other Issues in which thero Is nctlvo Interest, nnd in
tho lato trading tho manner in which tho market moved up made many
rcfor to It ns booming.
Tho copper btocks, which had been neglected for a long tlmo, were
also vigorously bought, and railroad issues reflected a resumption of out
side buying, with Southern raclflc and Union Paclilc in demand from somo
of tho most important sources.
General Motors made a gain of 4 points, crossing 130.
It was commented on that the supply of stocks at tho ljigher levels
established was so small that buying orders could not ho fixed by any
price limits.
Tho feature of the bond market was tlio contlnuid enotmous trading
In tho Liberty Uonds, with tho fourth 4is selling clown to 93.C2. Bond
brokers, however, said that tho buying was of a far better character than
had been noted for somo weeks.
Itallroad bonds generally wero strong, but. business in thorn was in
compaiativcly (-mall volume.
Adams ntprcs9 56
Adv Ilumely .. 25
do pref .... 01
AJaX lluhber .. 67
Alaska Old It., 4
Alaska .Turnout, s
Allls-Chalm Co 30. 30
do pref .... 84 83i
Am Agr Chom.101 101
do pref .... 09 00
Am lleet Sugar 61i 61 U
Am Can 47i, 40
do pref .... 97 U 97
Am Car & Pdv. soai K7U
Am Smlt prcf.,107"i 1074 107Ti
-m Mum TOU..100H 90'
Am steel Fdry. 92-i
Am Himar ....112V
Net
rhie.
I
-on f f.i
84 it
101 H
99 -1-1
C4U 3"i
47
97 V,
S9i
Vi
197
57',
9Gi
39 li
SG
14
55 i
4Ui
56
43
Sn&
64
81'!.
C6i
04 '
9') '4
Am Tel . Tcl.lOii'i 103
4in loo istf
Am Wool 57",
do pref D6")i
Am Cotton Oil 40
do pref 86
Am Hide & L. 1SW
do pref 75 i
Amcr Int Corp 56
Am Ire. See. ... 41 14
do pref ..... 56 3
Am Linseed .. 45
do pref 86 '4
Am IOComo... 65
Am Smeltlnff.. 86 H
Anaconda .... 67 "4
Atchison 56 '4
do pref 90 3
Atl Gulf&W I...112ii
Halrtwln Ijoco.. 78 K
Bait & Ohio... 55
do pref 56"4
Barrett Co ....1D9U
Ucth Steel 1!.. 69
do 8 p c pf.,106
Brooklyn U Tr. 37
Booth Fisheries. 24 H
Burns Bros.... 153 U
Butto Cop & 7.. 7 K
Butte &. S Cop. 21'
Cal Petroleum.. 22 "4
do pref 701!
Cal Packlm. no. n
Canadian FaclfilM: 159 'i
Case J 1 nref . . ail.', r, 1
Cent Leather.. 64 j 62 '4
Cerro de Pasco 34 'i 31
Chand Motors .1091. 100 !4
Ones & Ohio . 58 '4 58
Chi, it a st P 47i 46ii
do pref ... . 80 791-
Chi & Korthw 094 99i
C, Tt I & P.ielc 28i; 07-i
do 6 pc pref 73
CRI&P 7 pci pf 85 64
Chllo Copper. . 20
Chi Con Cop.. 38 i
(1(111 is
01 i 91 fW
1114 112U "i
M
3
li
103S
193
57U
90 t
40
8G
15 'i
75J4 1U
55 ..
41'i
50 "1
4111 -i.2
56ii 4-1H
l'i
65
67,
95
l'M
11
hot, lu-n m
76?', 7S4 4-1T4
WAR ISSUES HIT pW
LOW RECORD ON CURB
Entire Group Again Heavy.
Aetna Explosives Leads in
Recession; Oils Irregular
I Philadelphia Stoclts
,... .. . i"
In m JiiKii Jtvw Vfioi-i -iiirr,
,ian'.7ron a9T, 38T4 94 H
'i
8
61
38
56, 5614
1031 108i
67 U 68 4
106 inn
36 -"i 37 '
21 24 ..
153V: 1331-i
7'4 74
20',i 21
22Vt 22i
69 Vj 69 i
47 47
:i
1
t
161 14 lia
64 J-i-i;
." ?.
1091-1 3"
58 U a
47 5.
71 H
S4j
19-i
38H
U
80, f
28 U
3 1 Vj
334 1-,
0
3 8 4 -T- 3
Cluett Peabody 64a4 64; 6l"i .. "
Col .' & iron. 4o4 40 ' 40U 1U
Col r; & niec. son 39 H 39 H 4
S
i
I
NEW! A
t free text pocket boolihi e jlauiltigt
WHAT A
STOCKHOLDER
SHOULD KNOW
i
a
!
TRADE FAIRLY LARGE
IN THE CORN MARKET
Prices Move Irregularly on
Commission House Buying.
Oals Arc Firm
SLIGHT NET CHANGES
OCCUR IN COTTON
Trading Is on Small Scale,
"With Final Prices Steady.
Crop Report Tomorrow
Every man should know all
his rights at a' stockholder
in any enterprise. Do you?
Ask for Booklet T-V .-J-'
JONES & BAKER
BECimiTIES
WUtner BW, PKiUJ.Iflii,
'Phones Bell, Walnut 1030
Keystone, Race 2290
V -VnT-L- Tltthllf-r
Chlcasn Direct Private "Wire lloiton
Port Lobos
Petroleum
Common
Second Preferred
and Rights
BOUGHT SOLD QUOTED
nUNHAMElp
SPECIALISTS
SPECIALISTS
43 Exchange Place New York
Oilmen. Dec 10.
I'oimiilssion houses operated on both
sides of the corn market today and
prices moved Irregularly, with dealings
fairly large.
The ttart was firmer on -scattered buy
ing induced by continued unsettled
weather In tho belt, which It was feared
would retard shipments, nnd also on the
lato recovery 'in the cash article on
Monday and a growing belief that in
creased arrivals would meet with a
ready demand.
I Iteallzlng sales developed on tho rise
and prices dipped, but pit shorts were
1 heavy buyers, forcing values to a pre
I mium over yesterday's close. Commis
sion houses and (lrms with eastern con
nections wero good sellers nnd tho up
f turn was checked, becauso of assertions
that tho cash situation was less stable
and elimination of much of tho short
Interest.
Final prices showed little change. De
cember sold at $1.36, a new high record
I for that position for the season.
I Trado In cats was not large, but the
market was firm In the main, buying
by eastern Interests being a feature.
Thero was somo presauio on deferred
futures at times.
Leading future ranged ai follows
YesVa
Open llisb Low Gloss clusa
Ccn (raw Cellu-ryj
Jan l.31t 1 A2 1.30T, 1.31'i 1.311.
May .... 1.3U' 1.81 l.lW'J 1.30 l.JO
.Tana..T. 72, THU 72i 72. 72H
:
0.30 :
We Cordially Invite
Investment Bankers
Attending the Convention
to Use Our Offices
While in Philadelphia
Quotations from all Market
Poited in our Board Rooms
HUGHES & DIER
v,mt,, Philadelphia Htorlt KichaDse
aicmsers chle ll01irj ot lraile
1435 Walnut Street
l'hlladelunla
Hay . . . .
l,ard
Jan
Mav ....
'Jan
IMay ....
'Jan 4B.60
IMay ....41.00
23.73
24.65
fl.45
!5.75
25.9J
24.95
45.7.1
41.85
26.80
23.45
25.75
4.63
48.C0
44.00
26.45
28.67
24.05
4S.75
44.85
20.80
23.35
26.75
24.10
48.30
44.20
New Tori., Dec 10.
Trading in cotton was on a small
scalo today and last prices showed slight
net changes.
The dullness suggested that outstand
ing Interests had' been well evened up
for tho Department of Agriculture's final
estlmato on this seapon'a crop, which
will be niado public at 2 p. m. tomor
row. An average of all the private es
timates Issued Is 11,501,000 bales, ex
clusive of llnters.
The talk on the floor of the exchange
suggested that such a showing prob
ably had been discounted and that the
trade was more interested in tho goods
situation and export prospects than
whether the production proves to ho
100,000 bales out of line one way or tho
other.
Tho opinion was expressed that tho
olllclal estlmato would be between 11,
300.000 and 11,800.000 bales.
rirmness In January was attributed
partly to a further transfer of short
straddles or hedges from near to late
months, and, it was said, that largo spot
Interests with hedges In later deliveries
were Interested In January to the exttent
of using It to attract shipments of the
staplo hero as a protection against their
dlsttfnco commitments.
1'inal prices were steady at a net ad
vance of 5 points to a decline of 3 points.
Yesterday's Todaj's
Peeember.
January..
March ..
May
July ....
October. .
Consol Oas....l02?s
-um. 1 an 71
do pref 107
Com Prod 48.
Crucible Steel. 61U
do pref . . .. . 80
Cuba Cano Sug SIH
do pref 80j8
Del L & TV.... 179
Den & H G pref 10
Domo Mines .. 13I3
Dls Securities.. 51.
Lrie 19 14
do 1st pref.. 32?,
do 2d pref.. 224
Caston Wins . . 33 14
Oen Klcc Co.. 151 H
CJen Motors.... 1 30 U
do pref .... 82 s
Goodrich B 1. 56 ft
Great N pr. ... 08 14
do Ore Subs.. 32 H
Greene-Can Con 49
I Gulf States a 60il
lliirtman Corp. 54
Haskell & Uar. 48H
111 Cen pr.... 84 3
Illinois Cen... 094
Int Agrleul ... 14
do pref 52
Ins Cop 49
Intcrboro-C C. . 6 T4
do pref 28 sl
Int Mcr Mar.. 27
do pref .... 114?4
Intend Paper. 32
Int Xlckel ... saij
Inter Tt T pi- . 80
JucI Tea 32
ICans Cy So... 21 it
Kelly Spg 66
Kennecott Cop. 36
Lehigh Val ... 60 v.
L Hub & T 23i
L-AV Biscuit Co 41 4
do 2d pref.. 91 14
Mar llock'ell... 82
Max Motor. ... 30
do 1st prof. . 53 'J
do 2d nref.. 22
May Dep S pr.104
clo.o own llich
27.00 U7.D5 L'8.00
. 20.41 Uti.M 211.74
. 2S.au M.40 M.30
, 24.43 J4.S2 lM.f.9
. 24,43 24..1J 24.50
.... 21.00 21.80
Low
27.51
20.3(1
25.15
24.80
23.65
21.60
CIo"(e
27.00
211.39
2.1.25
24..IO
23.65
21.75
A'eto York Bonds
102
71
107
47-4
58 Wj
S9'2
30 ,
80
177
9 7
J24
60
r
31 It
2 2 '4
31H
151
127
821b
66 1;
97
32U
4S4
01
5 1
47i
84i.
!8i
14
52
4SJ-4
6Ti
231
26
113
314
32 4
79'i
32
21
61
35 i4
60
23
39i-i
91'.
82
2SU
53
21T4
iu
102 1
71 2U
107 1
48 14 o-ie;
60i 21,4
SOU H
31 T4
80 -4 14
177 3
94 W
12-)i 1
5014
19'4
32
22 7i
32'
151
1284
82 i
56 ?j
4-
.1- u.
2
u
14
981) j, iu
32 -1 f.
43 (4
68 1
54
48'4 114
84 13 H
99 ",
tt 1
U i i
281 r.
New York, Dec 10.
Tho cutb market showed a firm ttnc,
with a good demand in cvldenco in sev
eral groups, but tho war-order Issues
again became heavy-and somo of these
stocks yielded to a low record range.
Aetna Explosives, which yesterday
sold at 7Vi, declined to C;4 ! Wright
Martin was traded In at 44 to 4 and
Submarino at 114 to Uli'f
Hums Brothers Ico was strong in tho
oarly trading, moving up from 47 to 49,
but reacted to 46. British-American
Tobacco, after selling at 234. reacted
to 22 4. Keystono Tiro was also In
supply, ranging from 3314 to 32 94.
General Asphalt was a strong fcaluro
In tho early trading, advancing to 39!4,
followed by a reaction to 38?i. United
Motors sold at 3494 to 34,!s.
Independent oil stocks wero Irregular,
Oklahoma Producing ngaln being In de
mand and advancing to lOH, but re
acted slightly in tho afternoon. Houston
OH wan heavy, falling from 7714 to 75.
International Petroleum sold at 1514
and 15 "4.
Thero was a llttlo business In mining
stooks, with little change in prices.
Intcrborough notes were heavy, falling
to OO'i.
INDUSTRIALS
Hid
Aetna L'vploslves ... 61a
Amer-Brltlsh Mfg .. 2
Am Marconi 4 V
Amer Writing Paper 2Vj
Air Reduction 55
Canadian Car Co ... 28
Can Car & I'"dy pref. 70
ii.ui;uu! nun .,..(
Chevrolet Motors ...140
Yen. ' loso
Anlc (pale)
64 ?i
6
414 ..
314 ..
63
35
SO
Cramn
Curtlss Aeroplane ...
Carwcn Tool
Carbon Steel
Kmeriion Phonograph
Hendco Mfg
Lako Torp Boat
Lehigh Coal Sales . .
Lima Loco
Maxim Munitions . . .
N Y Shipbuilding . . .
Xor Amcr I'ap Pulp.
Otis Elevator
Pcerlers Motor
I'oole Lng
Scrlpps-Booth
Standard Motors . . .
Steel Allojs
Submarine
St Joseph Lead
Todd Shipbuilding ..
Triangle Film
United Profit Sharing
U S Steamshlyp
United Motors'
World Film
IVrlaht-Martln Air ..
85
11
7
90
i;
10
13
30
13
S14
S
11
14
95
4
'1
130
30
13
9
100
lii
20
211
91
40;
274
00
17
60
30
9-i
13"
100
'a
5 '4
3314
ri
4'4
145
Low Cloe
-vaui jron a'JTk aJa 89Ti
lOCrnrlhUu r.aii t.nif ?S(f
innn n r . xx "r" rr
,?Kleo Stor 54 U
1330 Uen Asph 30 ,
-?;?. do I"6'- 78
" B?5Lk Sup C 19 "4
17Lch Val.. 60C
M0.VVNH
,.& II .. 30
840 Pcnnaim, 47i
27 Pa Sail M 88
396 Phila Lice 25 V,
JIM uo ar
w I . . 1-
25P.IlTtc26n 2C J 26(?
,10 So llwy.. 32 32 32
1300 Ton Mel.. 2A VS. 2,V
!UO I... 72. 72I' T3f
1300 U Sfitcel 09 97ii 90
1
18
60?4
36
47
55
2oli
8
38(4
36
47J4 4
85,4 .(a
254 H
78 -H s
19U 14
C04 U
'4
14
:t4
Tnna'iL"."1"- I2-7fi.O shares, compared with
ioHtSll'S "!: thus far this week,
shares Bhar"! 01imo period lam week. 13,220
noxns
Ilish Low
J300E1 & Pco
Tr 4s.. 72 72
lOOOEnult 111
..., as Cs.104 104
40000 Lake Sup
11000 Leh Val
,,.. .Cs',v 1-103 103
000 Lch Val
nnn 6s. US 118
300 Lib Bonds
id 4148 95.30
150 do 4s.. 02.50
24350 do 3d
.... 414 .. 95.81
1400 do 4th
... 4Us .. 95.61
SuO do 1st
414s .. 07.20
14000 Phila EIco
1st 6s.. 044
1000 P & E 4s 06 14
17000 P B & TV
4s t c. SG
21000 Reading
gen 4s. S8',i
E0O0 rtead-Jer
v Cent 4s 8714
1000 Span-Am
I 6s ..100
Close
JCet
ch?e.
&
101 14
6111 414
103 14
US ..
95.30 05.30 1.40
92.50 92.60 .10
05.30 95.84 .31
95.30 9C)30 .40
07.10 97.101.50
0414 94 ..
0614 0614 ..
06 90
8814 88 4 14
87U 8714 U
100 100
Total aals. S172.350
SuO yesterdaj; thua far this -neck. J235,
sa-me period lait week. S20U.730.
romparcd with $02,-
uo;
8?4
14U
5J4
3414
U
4
STANDARD OIL
26Ci
113S
31 '4
33H
79 ;4
66
36
SOU
23 4
41 4
9114
82
30
4
Illinois 150 160
Ohio 314 31U
Pralrio Pipe 280 283
S O California 228 232 231
S O New Jersey 578 682
S O New York 288 290
INDEPENDENT OIL STOfjks
Earnctt Oil & Gas..
JIONEl'-LENDING RATES
NEW YORK Money on call, mixed
collateral, ruled all day at E per cent
and Industrials at D! per cent.
Tho time-money tnaritst falls to show
any change in conditions or rates. There
is an occasional renewal, or new loan,
for thirty, sixty days or ninety days at
0 per cent.
Very little prime mercantile paper Is
offered and tho minimum Is 0 por cent.
Prlmo bank acceptances aro fairly ac
tive at 44 4'i ner cent for nrlmo mem
ber bills; 4 7-1604 C-1G for nonmembera
and 5V&D per cent tor mcllglblps.
Cnll loans on prime bank acceptances
aro unchanged at 414 per cent.
PHILADELPHIA Call. G per cent:
time, Ev46.per cent. Commercial pa
pers, three to six monthB, 5 6 per cent;
six months, 6 per cent.
LONDON Money Is nuoted at 3 per
cent. Discount rates, short and three-
month hills, 3 17-32 per cent
- 34
-rl'i
1
5314 14
"i
104
Mox Petrol lOg-U 139 1604 1
Miami C Cod. 25i
Mldvalo Steel.. 46H
M & St L new 14
Mo Ivan & Tex 6
Missouri Pac 2S
Nat Acme .... 30
N Con & Cable 17 4
Nat Biscuit... 10914
N Enam & S.. 4814
National Lead. 68 "4
Nevada C C. 191-S
X O T & Mex. 36
N Y A Brake.. 102
U-) I VCilb .... i?1
. I -LUtJiV . m1t
X Y X H & II. 36 4
2 u
45U
134
20
174
109
46U
68
19",
36
102
3514
1H
4
Xorf & West.. 1074 1061J 10714
Xor raclflc... 9714 96 9714
Ohio Gas .... 43T 43U 43T4
231S
4614
14
6Ti
30
374
109a
48ij
68
19i
20
102
na a
ub
u
i;I
14
Ohio Fuel Sup. 431a
U. S. LIBERTY BONOS
$50, $100, $1000
f. FOLD AND RF.r03UD3NnKn
lore INVIJTJIENT
Newburzer, Henderson & Loeb
14to C11I3TNCT MTREET
Mmbcr N. Y. A Phila. Stork Kxchantaa
H,
ankuat-i snnrnxoH
'KIP IUE BAJiK 11' ""'"U AMERICA.
s Philadelphia, December 6th. 1918.
,t -The Annual Meotlns of tha Stockholdirt
on Tuesday. January J4tta. 1919, b
twelve o'clock noon and one a'clock
b.A- n. ill., inr inn fliapiinn nr i. ph,..n T-,1-....
r,r, r. ,io"err for the enauinc year.
WJ W E. a. KROMcn. i-..m.-
Y .ft -The .
Z-. Jt0U3 '
t-'tJ,r "Feea
teA 1 -S.-.nu.
UNFILLED STEEL ORDERS DROP
Total on November 30 Was 22G,-
630 Tons Below October 31
New York, Dec. 10. Unfllledorders ot
1 the United States Steel Corporation on
Xovember 30 were 8,124,663 tons, ac-
1 cording to the corporation's monthly
statement Issued today. This Is a dc-
iro.-mn nf 238.630 tons compared with
I the orders on October 31. and compares I
I with 8.897,106 tons on X'ovember 30 of
last year. , . . i
I In rcpyl to a question as to whether
I cancellations of war contracts were i
heavy during Xovember and were re-'
I tlecttd In the statement of unfilled orders
i given out at noon. Judge K. n. Gary,
chairman of the United States Steel Cor
poration, said:
"The decreabe In tonnage Is accounted
' for principally by greater shipments than i
there were bookings of new orders. The
cancellations were no greater during the I
monin man oruinarny.
Comparlsons of unfilled tonnage at the
end of each month elnce Januarj 31,
1913. follow:
Month of .Tonr Month of Ton.
Nov. IBIS. S.l-'J.UtW Nov.. 1IUB. 7.189,487
Oct.. I'JLa. n.uoa,.iij uci.. luio. , 18.1. 4,12
K.ntl. 1018. 8.297.110.1 Bent.. 11)15. E.S17 nia
AUC 1018, 8.759.04'J Auc. lblil. 4.008,433
Juno. 1818. b,918.86 July. 101S. 4.S28.B40
. 4.
Low
98 14
96 4
994
9514
1024
86M,
8614
8494.
85U
0514
man Pal C.12314 122U 123U ITJ.
Hy Steel Spg.. 79U 74i 7614 -4-214
0 63 10014 1004 10011 Raj' Con Cop.. 22i 22 224 -- 1,
Lea 6s . 96 96, 96&J Heading ...... 8514 841, 8514 -- ?
us S6V. S3V, S5'i o -u prei.. 03
Is Itoyal Dutch... 97H
100 ;
051
66
76
87
88 14
0814
96T4
0714
r
rm
r .vwtr
"T.'fla.e
k 5lT7 ,
LOCAL MINING STOCKS
TONOPAH BTOCKS
..
a uuiier ..,..
oNamara
war
span Extension
niaoa
tn utar ......
uuia .....
Kna .......
Rid
. .a-i
.2.1
.t7
. ,06
. .14
, .US
, .10.
1'i
GOLDFJELD BTOCKS
'ta .,.........,, ,00
ciui
ondfleld B B ........
............
aS rf.a. ....... ....
.....,.......
Mead ............
rpick
.03
.17
.02
.02
.08
1 .01
.24
.0(1
MI3CBLLAXEAUS
United . 1 .f.i
Ssa Wonder U
ua , 13
Aaked
.41
.26
.20
.07
.l'l
10
12
li
.07
.04
.10
.03
.0.1
.07
.0.1
.27
t
.15
May. 1118. fi.337.(l'.'3 June. 40
Am-.. 1918. K.741.8!.' May. lin. 4 -M4 no
Mch.. 1018. 0,038.406 Aor.. 101H. 4.182.244
1CD.. IVIB, .-'BS.4.1 1 e1-"' -111). 4,L'00.74D
4.sa.a7I.
4.248.B7I
3.886.843
8.824.602
8.481.097
n ?fiT AAT
1J4. 4.13:8.li
l.88
3?14. 3'.oiS'"sr
Oct.. J9
Sept.. 1
AUC.
July.
Jane,
31
May.
Apr.,
,-
Iffew York Hank-fays Extra DMJend
7aVw Xorlt, Dec, 10- Kxtra dividends
E par com each nava been declared on
wowa or mo irirst .National Bank
im jpirst necunty company, in ad-
Pi. to tha regular quarterly dividend
SW oent, The dividends nre pay-
jaBuary 3 to BtocK of record Do-
' 44.
KXmCAGO. SUTTPR AND ECCS
in
in
Mch.. 10
rb.. ;;
Jan..
Dec,
Nov..
Oct..
Sept.
Aua-..
.Tiilv.
June. 10
May. 1?
1B1H. fl.28R4.1S Mch.. loir,
H03 tea, lv r.
s Jan.. is: 5
A Dec. IB' 4
7. 0.00H.87B Nov.. 1914
7. fl.888.4TT Oct.. 1914
IAS BCVl.. JH14.
4 Auc 1914.
:8T Julv. 1014. 4 lua'Roa
7,11.88.39t .Time. 1014. 4:032:857
.r.?.-.,J7'? -:.
Jan.. 1918. 9.477.85:
Dec" 1917. 0.881.711
Nov.. 1017. 8.807.101
lux,, v.umf.t)
107. fl.838.4;
10.844.11
1917.11.383.11
1911
Anr.
Men,
Jan.. JJ
Deo.. 19
in
loin.
.
5.
1,678.108
6.11.B47.286 Jan.,
n.ii.tni
fiSS f.i'! Tier.
8, 10.015.26(1 Nov..
17. 11.711.644 Anr., 1014. 4.277 Mi
17.11.870.807 Mch.. 10i4. 4 I.V83
17.11.474.054 Veb.. 1(114 B 0;n Jjo
3222- i.'-'-mos
1013. 4..tnn 847
8, .r.60.8M Hept.. 1018. -flioOSSR
. n.r.o3.r,o-j Aur.. 101s. n.22a Jm
O.037.t08 June, 181.1. B S07 817
U.RIfl.R.'.t May, 1018, fl 824 82
0,331.001 Anr.. 1913, 8.078 782
8.B88.06 Mch.. 1018. 7 4(18 958
7.022.767 "eb.. 1913 7r.8.714
7.806.220 Jan.. 1813. 7.827 888
Unfilled orders On tha corporation's
books at the end of each quarter sine
March 31, 1307, wero as follows;
Tons xons
Quarter endlnx quarterenolni:
SepuTolS. 8.297.9J5 Sent.Vl012. 8.B.-.1.607
June. 11. 8.l.?;j June. 1912. B.S07.848
rUt mia. n.asn.408 it.h . ioi"! K aJtl'Sl?
'Dee,'.' 1917. 9.88t.7l5 Dec.
HepK. 10".B-S8l-ilI "sot
June. UU'it-Xfi-in i?
Men.. 10l7.ll.lll.4ii w
Dee,.
U-m( If)
.TV r.l A ,,A 11
1918. O.BSl.opi Mch.. 1810, 0.402 514
Deo.. I"!. I-SSS-s?'. I'M., inoii, n 927.081
rJsPt,', IBIS. jjH-f'S "'Ot.. 09 4.798.888
June. 19J3. -i.I5.1B June. leoi). 4.nri7.988
Mch.. 195. 4.26S.74K Jlclu. 1009. 8.542 BBS
Deo.. 1H- ?-isS-512 Dec,. 1908. 3.60S.62T
Hnt.. 1014. 8.787.667 Hepi.. 1908. 3.421 077
June, 1914. 4.Q32.837 Jnno. 1008. S.813.8T A
Men. 1HJ4, 4.ua.ou icn.. ZMUf, JI.TflA.34
Lec.
Htvt.
;-$fcm
MVtHSii Jfch" l"'' .447 aoi
lh.ll.M7.288 riec,. Join; 2.0477B7
fl, 0.B24.B84 Sepl.,19t0, 3 188 108
l! 9.640.488 June, loin? 4 2Bf.704
B714 5714
103S4 103
181j 18ia
70,4 7914
4l3 4la
e, 1914. 4.082.837 Jnno, 1008. S.813.8T8
., 1914, 4,058.825 Mch.! 10OS. 8.76S 84 3
' 1013. 4,282.10; Juno. 1007. ,7.603878
t 1013i B.008.783 Mch.. 1007. S,C43.ri.8
6000 Am Agr 5s... 0814
139000 Anglo-Frch 3s 9714
03000 Am-For Sec 5s 99 v4
3000 Am T & T 5s 9514
24000 do 6s 102H
2000 Armour C 4 Us 86 M,
2000 Atchison 4s .. 86 "i
2000 n & O cv 4V.s 84 4
1000 Beth Stl 5s 36s 85V4
27000 Brk R T 7s... 05H
iuuu .uoruo
1000 Cen
20000 Chile
,000 C O n- i,9
S0001 do conv 63". 88
1000 do 5s 100T4
18000 C B & Q regis 95?4
3000 Chi I & -W 4s. 06
lOCOCM&StPrfdlHs 76
3000 Chgo llwy 87
40000 Col & Solst4s 88 U
6500 City of Paris 63 39
7000Domof Can2Cs. 97
8000 do 31s 97ia
1000 Erlo conv 4s
Scr D E7U
8000 French IIc314b.103'J
5000 Hud & M In Bs 18 lj
1000 III Cent 4s '52 791A
59000 Intb Met 4!B. 4994
14000 Intb Met 4s. -93
13000 Int Mer SI 6s. 102
2000 Kan Cy So Cs. 87
11000 Kan Cy Ter 4a 81 "4
1000 LlgM SI T 5s. 9314
290000 Lib Bond 3Mb. 97.70
75000 do conv 4s.. 93.00
14000 do 1st 4s., .. 93.40
802000 do 414s 9G.90
140000 do let 414b... 97.40
409000 do 2d 414.S.. 95.94
2539000 do 4th 414s. .95.98
10000 Leh Val rets. ..103
9000 Sfo Pac gen 4s. 6JK
2000 Slontan Pow 5s 92
7000 IS T C&II 3Js. 7G
34000 do 6s 101
1000 do 4s 88 'I
1000 do 4I3S .... 8514
6000 XV City 4sE7 9314
1000 do 414s '60.. 9814
1000 do 4'; '64.. 9814
1000 XT Nil & II Cs. 94
1000 XT nwy 4s.... 45
3000 X Y Tel g 4ia 914
1000 do 5s 92
4000 Xorf &"W 4s.. 88
2000 Xor Pac 4s... 8814
1000 Pa gen ct 414s 93
2000 do 44s 1921 98
2000 Phila Co 22a. 91 i
1000 Pere Slar Cs.. 874
C000 Sinclair b.... 95T4
5000 St L I fi G
4 ,.. 76
53000 South P cv 4a 86
47000 do 5s 104
HOOOSo nwy 4s... 6914
10000 do 7a 9t
4000 Third A adl 5s 33 W 33
GOOOU SB411 68.100 100
16000 U S Rubber Cs 87 87
70000 do 7a 10214 102U
32000U H Stl 8 f Cs.101 IOO7I
12000 Union Pac Cs.. 105 , 105
16000 do 4s 8974 89
28000 U K of O B &
I 614s 1919. 99H 99 H
lAIHAA .nl.-lmMalAllI 1A,
iviuvu uu U71HU n .i.vi7 iu,
Clos-i
98H
Ontario ' Silver.
Owens Bot ....
Pac Slail ....
Pan-Am Pet. . .
Penn It R
Peo Gas & C...
Phila Co
Pitts & West...
Pierce Arrow
do nref . .
1;
58
34
65 4
47 14
55"?
3314
36 Vj
46
.102
96'4
9-!i
9WA
ift"j.i
8(jU Pierce OH .... 16U
BGulPltts Coal.... 4714
84sf Pressed atl uar so
86 V, luilman Pal
ncil
58'
334
631A
47
65 '4
31V,
3614
441-4
101T4
1614
47i
0714 hi
43T4 7?
4314 14
8
8 14
J s
6
47
33
3G--4
45 i
10;
14
64
5u
. i
1514
. 75
, 231'.
.136"
. l"is
13
. -.9-4
6'i
li
Sinclair 20
MINIXO STOCKS
Cot-den &-Co . ...
Elk Basin
Federal Oil
Inter I'ctrol
Houston Oil
Merrltt Oil
Midwest Refining
Slet Petrol
Ohio FMel
Oklahoma Ref . . .
Sapulpa Ref . . . .
Sequoyah
- J,a
15 -
23 4
137
1
17
10
21
15'4
7Mi
10
1361'.
l'a
'9Ti
FOREIGN EXCHANGE
New York. Dec. 10. Tho- market for
foreign exchange In the early dealings
touay snoweu a rainy steady tono on
limited transactions.
Quotations were:
Demand sterling 4.75'l, cables 4.70,.
mxty-oay ums nominally 4.73 Si and
ninety-day bills 4.714.
Franc cables 5.43, checks 5.45?a.
Lire cables 6.35. checks 6.36.
Swiss cables 1.90. checks 4.93.
Guilder cables 4214. checks 42 it.
Pesetas cables 19.93, checks 19.87.
Stockholm cables 40, checks 28.75.
Chrlstlanla cables 28, checks 27.75.
Copenhagen cables 27, checks 26.75.
Russian currency was sluggish with
a rather heavy tone at 17"4174.
GENERAL ASPHALT AND LAKE
SUPERIOR LEAD LOCAL TRADING ,
Latter Most Active and Makes Wide Advance, While
Former's Common and Preferred Gain Again.
Tonopak-Belmont Active t
Virtually all interest in today's trading on tho Philadelphia Stock Ex
change was contered In Lako Superior- Corporation, Gcneraf Asphalt and
Tonopah-Belniont. Superior and Asphalt common became ncllvo and assumed,
tho market leadership early In tho day, but in tho afternoon Tonopah-Del-
mont showed unusually good momentum.
Bcforo midday General -Asphalt common had advanced ,a to 39t. slightly
nbovp yosterday's high level and a now top record slnco 191-1, but in tho aft
ernoon profit-taking sent it off as low as 38, white the preferred held fairly
steady at a now high record price of 78, a gain of i over the previous sala
quotation.
Lake Superior has not been ns nctlvo or strong for a long period. Mora
than GDOO' shares changed hands in tho session and it closed nt 19t4, up 14
points, after advancing to I9?i. Thero was no special new3 forthcoming in'
tho Street tr account for tlin ulinrn ndvnncv Vnr tlin nnlnlnn ntAvnllir1 nlllta
Generally that tho stroneth could be considered a hrdntnl resnonsB to tho lm "'5
provement in steel Industrials for somo tlmo, and dilo to today's strength of
steel Industrials on tho big board.
Tonopah-Belmont, although moro actlvo thin it had been for somo weeks,
decyned fractionally, but changes for othor homo Issues wero nearly all tp
ljigher levels. Electric Storago Battery ndvariccd l point, United Gas Im
provement moved up "1, Transit certificates U and Philadelphia Electric
Dtock and warrants to now shares gained slightly.
Steel commtm was not actlvo hero nnd did not show as wide a gain as
In xW York until near tho close, when it gained 214 points. On small turn
over Crucible was marked up . Itnlls did llttlo, but Lohigh Valley was off
a fraction after being higher and Pennsylvania showed a trifling decline
after opening unchanged.
Tho bond market was broader than it has been for moro than a weak,
with tho outstanding fcaturp tho activity and strength of Lako Superior in-
como Ds, which reflected tho position of tho stock and advanced 6 per cent
to C2.
t
cholco and fancy. iusis.i'i
mon and medium. 17 10: vi
and oliolco. Slt).7517.23:
beef eteT. $11.23 17.73: 10
16 14
471-4
621J 65 4
Atlanta
Big Ledge
Butte Xew York....
Con Ariz
C F S & Jerome
First Xatlonal
Goldfleld Slerger
Goldfleld Cons
Goldfleld Florence. . .,
Goldfleld Kowanas...
Green Monster
Hecla Mining
Ho wo Sound
Independence Lead . .
Jerome Verde
Jim Butler , . .
Jumbo Extension . . . .
SIcKInley-Darragh . .
Magma Copper
Slother Lode
Mines Co of America,
Nevada Hills
Xevada Wonder
Xlplsslng
Ohio Copper
Ray Hercules
San Toy
Stewart
Tonopah Extension . .
United Verde .-
West End Con
White Caps
Yermgton
IIOXDS
Bethlehem 7s (notes).lOOU 10014
6
1
'i
r
2?J
2P
15
6
6'J
414
1
..
14
45
29
34
7
l'i
'4
li
i".
2 V
8'.i
28
20
8
154
ii
ii'
'in
1
BANK CLEARINGS
Banl: clearlnsa today compired with cor
responding day. last two years:
,1018 1017 1010
rhlla ...$33,209,045 $51,208,682 $48,817,023
N. York. 090'B40.KII8 02.R.-7.8(17 754,4(11,1117
Itosfon .. 04.376.823 74.0S8.U18 41.01S.70fl
Chlcaeo. 98,801.091 71.8R8.401 87,108.415
Tlalto ... 14.170.701 7.260.8B2
St. Louis 23,660.783 20.773.70J
10074
t1
66
76
87
h'avaire Arms. . 60
Saxon Motors.. 0i
St L S F 10
ISeabd Air Line 10 U
Shattuck Ariz. 154
'Sloss-8 St& Ir 49
39
76 ri
97
60
8 14
164
10U
IS".
4S
34
q I Sinclair 011.... -ii 34 3414 v.
st-I South Pacific. 1033, 102?i 1034 ?4
? Southern R R. 3214 Sli 324 U
' South RRpr.. 7014 70 70 ..
90
8154
934
97.40
92.80
93.20
96.66
97.20
95.68
95.62
103
64
92
75
100 4
8814
85U
93i
9814
984
94
45
91
92
88 94
aflil
98
914
87 4
95
76
so is
90
101 7,
87
81 H
9314
97.60
92.80
93.20
95.90
07.20
95.94
95.93
103
64 4
92
73
101
8814
8514
93U
9814
98U
94
45
91
92
S8",;
93
98
91U
87 i
95
76
85T4
siuaeDaiccr ... do?
Stutz Motors . 53
Hun Steel 38
Tenn C & C w 1 15
iexas & i-acmc aj-i
Tobacco Prod. 81j
Texas Com
Third Av
om....l88
ro R R 16
Or. A Olll"
51
bU
58
144
274
187
14
80-4
100
--1
7814 --i;
97J -- ?4
60
OK IU.!
lui-e
15 rg ..
49 -J-Hi
52"; 4-
53 3
38 14
15 H
. S",, ,-71
400
15
81
100
0 7S
at i8
IS 7S
.7
11
73
0
Tobacco Pro nr.100
Transue Wm... 401J 4014 4014
Urilon Pao ...132 130H 13174
do pref 7314 73 7314
Unl Al Steel.. 39U .39 39
Unt Cig Stores.107 1075 107,4
Unl Drug 2d pr 8 4H 84 84
United, tYuit 162 148. 152
Unl Ry Inv pr. 15 1574 1674
UBCIPiF 1611 14 15
do pref .... 46 46 46 ..
U S Ind Alco.105 103 104 ..
U S Rubber... 74 74 74 .
do 1st pref. .108 108 108 4
U S Smelt & R 48 47 47
U S Steel 99 97J- 99- 1
do pref ....,113 .,11214 113 4-'l
Utah Copper.. 80 70 80 1
Utah neo uorp n- 14
Va-Car Chem . 54 54
Va Iron C & C 58 53
Wabash 074 ' 971
do pref A.. 8874 38
West sia ia is
a i Z1
8
8
'i
37
lU
13
4
40
16
48
30
35
1
6
i?
3
9
15
6 -
38
15
35
IS
BAR SILVER
Lant
Tue.
101S
lllffh Low
LIVESTOCK QUOTATIONS
Cliltaso, Dee. 10. ItOOS Receipts. 42.
000 head. Strom; to a shade hicher than
yesterdays nveraie. Uutohers. 17.B(t
17.75: lutht. tl7W17.no; packing-. 810.850
17.40! throw-outs. JlUtSlO.75; pigs, oood to
choice, H.2:.15.DO.
CATTLE Ttecelpts. 23.000 head. Good
wclsht steers, canners and calves steady;
other classes slow to lower. Peef cattle,
good, choice and wrlme. 11510, 75: rofnmon
and prime. $9.sa013: butcher stock, cows
and heifers. HI BU13.7B; canners and cut
ters. fo.7ftC(Pu.ru: sloCKerg ana leeacra, gooa,
.hMp. nurl fiinnv. il(lfil8.23: Inferior, com.
veal calves, goou
restern ranire
tows ana neucrs.
S8.25ttl2.75.
Slfftnr Itecclpts. 23,000 head. Lambs
opened steady at yesterday's close; sheep
and yearlings strong;, to higher. Lambs,
choice and prime. I13.U0tofo.70: medium
and good. 814.25dlS.fc0l culls. llOOla.BO;
ewes, choice nrul prime, JO.Bnsfln; medium
and good. JBSa.BO:cuIfs. J4S0..3.
l'lltsburgh, Dec. 10. HOGS rtecelpts.
13. Cw) head. Lower. Heavies and heavy
vorkers, S17.65 llsht yorkcrs and pigs. 410
S J0.23.
SHCnP AND LAMI1S Reeolpts. 1O00
head. Lower. Top sheet). 19.00: top lambs,
S15.
UALVDfl Receipts, 300 head. Lower.
Top. $10.50. -
Knt nnfl-nlo. X. Y.. Dee. 10. CATTLE
r.ecelpts, 830 head. Steady.
CALVES Receipts, 350 head. Slow, S7
il'obs rtecelpts. S0B0 head. Steady.
Heavy mixed, and yprkers. $17.80: light
yorkers and pics, $10.75; roughs. $12010. HO;
SHEEP AND LAMBS Receipts, 4600
head. Slow and unchanged.
Kansas City, My.. Deo. 10 HOGS He.
celnts. 22.000 head, btronc. Heavy. Jl.P
17.70; butchers. I17.23W17.75: lights. $17
17,60) Pigs. $12.50014 23.
OATTLrl ilecnlnti-. 13.000 head. Strong.
Prlmo steers. $1S(S20 western. $i2(ltl:
southerr! T steefs. $01S: cows $B.2512.00
heifers. $718.30 cales. IOC 13.50.
SHEEP Receipts. 4000 head. Strong.
Lambs. 8124MB00J jearllngs. 10.5012:
wethers. $9.50 10.30; ewes. $80.50.
South Omaha. Dee. 10. HOOS rtecelpts.
18,000 head. 10c and '-0e lower
CATTLK Receipts. 13,000 head. Steady
15o to 25o lower. .,..,, , . .
SHEEP Receipts. 14,000 head. Steady
to weaker.
X. York (ctsUOl 101; lOlS lOljt SB14 S.c,a,?l
London (pes).. 48A 48,', 48ii 404 4CW Thursday.
Embargo on Hog Shipments
Washington, Dec. 10. An embargo on
hog shipments to the Union Stock Yards,
Chicago, until Thursday, was authorized
by. the railroad administration. The
yards now have enough accumulation on
hand and In transit to keep thorn busy
until Thursday and tho embargo, to pre
vnet Eerloue congestion, wai recommend
ed by tho bureau of markets of tho De
nartment of Agrlculturo and stockyard
officials. Shipments will bo resumed
Local Bid and Ashed
Bid
05
ri
American Stores
liun: & hush t c.
do preferred .
Drill. JO
Haldwtn ...... t
Kleclrle Storage
Gen Asphalt ...
do preferred .
Keystone Tolo .
. do preferred .
Lake Hun Cnrrt .
Lehigh Navigation.
Lehigh Valley ....
Lehigh Valley Tr.
do preferred . . .
Pennsylvania ,,,,
I'hlla Hlectrlc' ...
Phila Co
do 5 p c pref. , .
do 8 p c pref...
Thlla n T t c
Heading . :
Tonopah TiMmont .
Tonopah Mining ..
Union Traction ...
U O I
IT S Stepl
Vm Cramn Knn. flo
TorU ltAlln-nv 78:
do preferred .... 31
Today
ASKea
Si
Yesterday
Sid Asked
07
65
58
1-4
78 78 7(1 76,i'
r.4, ns B3 6 1
88U 30 88 1 8811
78,, 78i 77I ,774
io'.4 ii 10 iH
,.,, 40 .. 40
19 iu is iai;
7t 72. 71 721"
0!i 00 M'i 00i
24 :; in ::
47f 47 47 47
25 L'r.s, 2r, MtJ
32 aa ai2 81
30 81 SO .11
B 0.1 ?8U $
3 8 O.V
40 41 40i 41
72 78 72 78
00 09 07 07
80 85 80 85
3114
Netv Ruble Notes for Russia
Xew York, Dec 10. Xew ruble notes
for northern Russia on tl.e basis of
forty rubles to one pound have been ar-l
ranged by the Allies Including America,
with the provisional Government to".pro
vlde Mablc foundation for Allied traders
in making remittances there, according
to cable advices Just received. The new
cotes will be Issued only at Archangel
at this fixed rate against deposits made
with the Bank of England, which will
bo "earmarked" to Insure convertlbllltyN
of notes. The new rubles will have
value of about twelve cents, against
normal Value of flfty-ono and a half
cents for tl.e old ruble.
SALES EXECUTIVE
Ar,e you in need of a man In your
organizatlon whoso past records
have proven him to be an expert
In Business Administration and a
1'roducer of Sales?
I HAVE HAD XIXE YEARS'
experience In the Sheet Metal and
Motal Stamping business and four
years as Director of Sales of a Cor
poration handling a Building Mate
rial Specialty. t
WILL DE AVAILABLE FOR
peace work within thirty days.
T 757, LEDOEU CENTRAL
Mi
1U
14
fMaden Oil 6s
Cosden & Co 6s
Cudahy 6s
Russian Gov 5s.
Russian Gov 6.
Southern Rwy 5s .
cinioii. mi r.s
Todd Shipbuilding 6s. 105
8'.
82
101
62
66
99
8:
86
86
102
67
0!l
!9
85
108
Financial Briefs
West Pao
.122
103 103
69 691!
luuuu ao ta 9074 vo?4 ya.
1000 Tex Co cv 68,10174 101 10174
ots n I17 817
n ROT 817 Meot., lOflt
17000 do 5s 1921 98
1000 West Shore 4s 83
9774
'oUf salts. 19,807.000. compared
33
100
87 .
ior.
100
103
89
SDH
101,
9 is
82k
2
do pref .,... t4 54
Wstghouse Mfg 44 43
White Motors.. 46 74 46
Willys Overland 27 26
do pref .,...88 88
Wilson Co .... 75 74
Wthptn P & M. 57 57
14
64
63
9
38
22 "
1
74
Z.'A
V,
64
44
U 1
26
88
7474 1?4
flK ?5
Total sales, 610.000 shares, compared with
262.000 shares yesterday: thus far.thls week.
872.000 shares; same period last week. 1,.
018,800 shares.
Ex dlvlderid.
ICenneoott Copper. It Atlantic, Gulf and
West Indies preferred. 1H Central Leather
preferred, ltti Lackawanna Steel. 1.
No Change in Refined Sngar
Xw York, Doc. 10. The Warner
Sugar Company today announced Us
temporary withdrawal from the market
ana mo jiouersu vuuiimny na practi
cally withdrawn. Arbuckla Brothers
continue to accept a limited amount of
business. :ino American is several aaya
behind In Us deliveries Prtcep are un-
The parkway Trust Company has
olocted the following as members of an
advisory board to the regular board of
directors: Morris Williams, Harry K.
Paisley, Adam Pfromm, W. rr. Abell.
Ira Li Couch. Chas. Schall, tTedericl:
Mayer, John E. Tivlnlrig. Geo. Grelss,
W .A. Pulncr, and Samuel D. Hagncr.
The per capita circulation in the
United States on December 1 was
S56.23.
The Xew Torlc Subtreasury gained
$2,667,000 from the banks yesterdaj,
making a cash net gain slnco Friday
of $3,245,000. , '
Stockholders of the Tobacco Prod
ucts Corporation, at a special meeting,
n,.t.n-l,1 nn InfrMflA In tllO aUtllOr-
lzed common capital stock iroiu ii,v
000 to $20.000,000.
DIVIDENDS DECLARED
, 1 .,,(. Tioclty Mountain and Jfclfle
Company, a dividend of 2 per cent on com
mon, payable December 31 to holder of
1.
record December
tr..i..iifl,i Hhirt Camranr. Quarterly of
$1.70 a share on preferred. payaBM
2 to holders of record December 20,
January
Allegheny
nayabls
record De-
t am ton Pm ramniny 01
County, dividend of 2 a share.
December 21 to holders ot
" Uuh 2Consolldated Jtlnlng Compsay.
auarterlv 01 oc. p-au,
njvaltli
of record Deoember 17
December 24 to
holders of recora ijeoeraoer , ,
Northern Central Railway Company, semi
annual of 4 per 'cent, payable January 10
as registered December SL .
Union 1-xcnango inimi" .. --."
York, semiannual of 4 per cent, payable
DecembVr 81 to holders ot record fcecvm-
National Cloak and Suit Cempuar.
1 Unttedl-rutt Compkny. .urtVrty of $3 psr
share. paable January 15 t stoci of record
B0Amerfcran0ilraka Bhoe and Foundry.Com
paw quarterly ol 8 per cent on preferred
and ouarterly of 1 r c,.nt Pn c0,5mn-
S5?8toBIcimbTr 31 to stock of record, Ds-
"r',rh.JA .securities Company, a dividend
guar-
anuary
ot 4 per cent.
10. Hooks
,.X.o,",4o'ey-,,td82y-:Thu. c?amrPatn.d C JnJ VV'r'lff
wr cent. pay -v?"'
ninaa iiuSiTnriF 11 auu icwws ....-.. - .
v'Noithweetrrn Yest Company quarterly 01
3 per cent and an extra of, a Per cent, pay
ib?Dl?ember 10 to stock of recori De-
namhtr 19. , '..
i 1.. AAmninV. nllBf triT OI
llfpVre&t on prifsrrsov paya-bTj Decatnbor
r eint on WMHrreu ,f",s. " --
yab
.i.li Af nrr1 IIMeinMr
' "-:,'l-'- Ti" -.1; 4n-.mM,
ce
to utoclt of reco:
0.
n
$3,000,000
West Penn Power Company
Fifst Mortgage 6 Gold Bonds. Series "C"
Dated March 1, 1916 Da June 1, 19S8
Tax Exempt in Pennsylvania
The West Penn Power Company supplies electricity for light and power
to some 78 cities and towns located, ten to fifty miles from the city of Pitts
burgh, Pennsylvania, the combined population of which is estimated at 440,000.
These bonds, in opinion of counsel, are secured hy a first mortgage on all
the physical property of the' Company, the replacement value of which is
largely in excess 'of the outstanding bonds.
The mortgage provides a graduated Maintenance Fund ranging from
Vz to 2Yz, and a Depreciation Reserve 'Fund of 2 annually of First
Mortgage Bonds outstanding, and also stipulates that additional bonds may
be issued only under conservative restrictions. The franchise situation is
eminently satisfactory. x
The proceeds of this issue will be used for the purpose of increasing the
Company s generating, transmission and distributing capacity, including par
ticularly the cost of the new Springdale plant. The Company's generating
capacity upon completion of this plant will be increased 40,000 KlW. or
43 per cent, over that from which' the 1918 earnings were derived.
STATEMENT OP EARNINGS
(As officially reported)
Fsr theYeir Ended Sept. 30, 1911
Gross Earnings, including Miscellaneous Income) 95,236,389.70
Operating Expenses, Maintenance) and Taxes.. 3,404,242.68
Dec. 31, 1917
$4,000,308.97
2,713,987.64
Net Earnings
Annual Interest on $13,723,000 Firit Mortgag
Bonds requires
$1,286,351.33
V
$1,832147.02
738,380.00
WE RECOMMEND THESE BONDS FOR INVESTMENT
Price 99 and Interest, yielding more than 6
All statements herein are officii), or bated en inferrattlon which we regard si reliable, snd, while -s-t it
(tt guarantee them, tbej- tre the data upon which we hays acted In the purchase of this aecurily.
jHalsey, Stuart & Co. u.o
1 Chicago New York'
Land Tide Bid. Philadelphia
A. B. Leach & Co., Inc.
New York Chicaeo
-
, 115 So. Fourth StPhiladelphia
if
C
"rf
i
Continental and Commercial Trust,and Savings Bank
Chicago
"Panid bv tha Casltal Iliun Cemratttea as net Incemnstibl. with tha mtlonil lt,,i !..., ;,!.. I
nt- sppreyal of legslltr, Talidlty, worth, or security. Opinion No. A-1014." I
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