l
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'
EVIML3$Q- PUBLIC LED&ElPHlLATOLBBlAt WEDNESDAY, ftEOElBER'' ,18, .1918 ".f
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NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRldM!
Kf
I&?
m? ,-i
av . -
. fr
s
V
j' larettments for the
!ii Readjustment Period
-5 rURIHO th present epochal
! 1-' mdjustmsnt of the world'
i Infamy and commerce from war
i H a atice bull. It bthoarci th
, tavtator to place hi fund In
" ewtttea that art tromlr bul-
it araratd ( alnst shifting condition.
V-- W hn be pleated ta'turntih
' Mlctd Uit of such sscurltUs.
Tnt Include Oorcrnmtnt bond
rhldlnc us to 4.55: municipal.
itnV-r railroads, jet. nubile, utllt.
V tie. 7'.: Industrials. 6.15.
Ask for circular ris-iss
TheNatiohalGty
Company
CmtiPtnitnt Often In 31 Cillit
PkitiJdiUi 1421 Cktitaet St
Telephone 555 Locust
K
t-
Island Oil
Late New
f Property
Possibilities
New and valuable develop
ments. Send for anabtlcal
report. "Your for tho askinc.
ScHMTOTiMteEKV
Members Cona. Mlork Ft. of V. V.
628 Widencr BIdg., Phila,. Pa.
rh.l Bell. Wal. 0B0 Hace 4080
lw York Office 30 Ilroad St.
PRIVATE WIRES
Narae
'street No
City State
v 1U" 15
SPECULATIVE SITUATION UPSET
ON NEW YORK STOCK EXCHANGE
Many Issues Arc Offered at Substantial Concessions in
" Late Trading, After Gains at Start Widest
Changes in the Petroleums
High Points in Today's Financial News
Speculative situation teas disturbed In New York and most Mocks de
clined after oalns at start. Petroleums had widest changes. Oil also at
tracted most Interest m the Curb. Trading teas light In corn, hut market
favored bulls. Cotton advanced. Voieign exchange dcieloped more activ
ity thatf. recently. An extra, dividend of 2 per cent Mas announced for
Buffalo and Susquehanna trust certificates, liar silver remained unchanged.
Nctv York Stocks
New York, Doc. 18.
Thero was n. general disturbance) of tho speculate o situutlon ns u
result of the market development-) In lodny'H tiudlm,'. will' lie.iy tone
prevailing In tho afternoon, and nil through tho last hulf of tho day many'
Mtocks vvero offered at substantial concessions, Indicating end-of-car
adjustment of speculative accounts In m-uiy cases.
Violent fluctuations were noted In a number of specialties, villi tho
widest movements In tlio petroleum stocks, Koyal Dutch ilrst advancing
li to 109'4 and then breaking to 1034. Mexican Petroleum moved In
the sumo way, advancing 14 to 170U and then falling to 160.
Tho inllroad stocks wero directly Influenced' by fears that tho Gov
ernment would turn the railroads ocr to tho security holders without
any special notice.
It was thought that tho Government policy would be Indicated at tho
meeting to bo held at tho Grand Central Depot in tills city on l'rlduy.
Tho traction stocks were again prominent, Urooklyn ILinltl Transit
sustaining a further loss of more than 1 point and selling down to 31 V4,
u new low record for this movement.
Tho steel industrials, after showing strength In tho early trading,
declined 1 point or more. Marino preferred pursued Its usual couise
of moving in an opposlto direction to tho remainder of the market, and,
after selling down from 111 to 109. rose again to above 111.
Nearly nil the Interest in tho bond market was connected with tho
heavy sales of fourth 4'is, which jlelded to a new low lecord ug.iin today.
Thero wus largo trading in I'nltcd States ltubber Issues at frac
tional advances.
, , , Wen I,ow
Adv Rumcly.. 26V4 2B?i
, do prcf 81 00
AJnx llubbor, . 72 U 71
Alaska Gold M 4(1 I
Alaska. Juneau 2 1 T4
Allls-Cholm Co 32 314
Am Agr Chem,101 lot
do prcf 99 09 U
Am Iiect Sugar 64 , 6.1
Am Can 48 40
do pref . . 87 97
.vm r n Fdv n 88 86 a:
Am Cotton Oil. A0 40
Asstt' Itcnllz . . l l
Am-Hlde & Lea. 14 13 '4
do pref 69 "i, 08
'Am Int Corp.. B6T 564
I Am Ico Keo pf: hi f,7
I Am Linseed ... iu 44 H
I Am Loco , . . , 63 63
Am .Smelling . 8254 81N
Am Smelt pf .108U 108i
Abso Dry Gds. IS 17
Asso OH 66 06
Am Sum Tob. 98 97
Am Steel IMy. 88 80 Mi
Am Tel ft' Tel 101 U 101
.vm j ooacco .
do pf new. .
Am wool , . r,3i4
Am wr J'np pf 2914
.m y. Ai i. pr 467,
Anaconda .... OH "4
Atchison 93
Allan 11 & All 7.
At G & Vf l.HO'j
do pref i,5,l
Baldwin L Co 76
Bank of Com.. 200
B A: o 63r-4
Net
Ctvo rhge,
26H H
61 f.ii
71 1
4
..
31
lot's "
99 V4
63 2
SJ.
Soft it
1 U
13 4
1L 1L
Unriott t.'o.
63 ii
. 10b 'i 106 Ms
l'-j
6ja
88j
621,
101
31 i
21
TRADE IS NOT LARGE HEAVY SALES OF SPOT
IN THE CORN MARKET
BarnetOil&Gas
BOUGHT SOLD QUOTED
Jlorton II. Alexander
Phila. Stock Exchange Bid;.
tl milium St.. N. V. Cltr
in
BK
a'k i
Bv V '
ati-T.
fS
SEND FOR '-BOND TALK"
Keep in Touch With the Trend.
P.Wi5irovis&$
llnrOP'ATw
Btork Kxchance Uldr ,
Boa ton
Phlladdplili
New lork
&..w-
P ",
U. S. LIBERTY BONDS
' $50, $100, $1000
POI.D AND RRTOUSIENIIED
FOR INV1MT51E?IT
KiSk- tWCOHT.
&A
t;?''; ncHuuivci. iiliiuci miii ce i.ii
Srf ....0i..VVT !"
KrC Member. N. V. i. rhlla. tUoek Kxehantri
SiL
IF
PIVIDKM1S
Tlee of Tlio United tlua Improreiuent Co.
N. W. Comer Ilroad and Anh etreetp
I'nuadclphla. December 11. 1918.
rf "Tn Dirw.lc.rs havo this Cay declared a
jQuarttiriy dividend of 2 per cent 111 per
fiarej. payable January IS. 1910. to ntock
hpldera of ret nrd at the close of business
frccembor 31, 101S Checks will ba mailed.
I. IV. MORRIS. Treasurer.
f-.f-"
R.
i.r
ANNPAI. MKirrSINtiS
'iKS" ATIOAl SU-tUITV M.
BK3S Philadelphia. Dec. 11. 1018.
The annual mectlnc of the stockholders
will be held at the Ilanklni House, on Tues.
day. January 14, 1919, between the hoars of
12 noon and 2- p. m , for tho election of
directors and the transaction of such other
jbuilnMS as may come bfore the meetlnc.
VV 11. McKEE.
Cashier.
Sentiiucut Favors Bull Side.
Light Receipts Principal Sus
taining Influence
Chicago. Doc 18
The corn market averaged firm today
on covering by shorts and buppoit from
local bulls
There were frpqupnt reactions on
profit-taking and tho trade was mled,
although the ability of prices to mover
qukkly from all setbacks rnurto senti
ment generally a lltle more friendly to
the bull side Trade was not Urge
Light receipts appeared to be the
prlncipil sustaining Influence, and pros
pects aro not bright for an Increased
movement, owing to predictions for un
settled weather. Influenza, heavy ship
ments of hogs and a largo feeding de
mand. Oats were Inclined lo drag and final
prkes were not far from jesterdaj's
close. Ixical Interests were good buvera
at times, while commission houses oper
ated on both sides.
There was purchasing of January by
a house w th seaboard connections,
which led to a belief that export busi
ness is being worked Shorts covered
Argentina reported a large business in
oats, with offerings heavier
Tho visible supply of wheat In tho
United States Is 121,114.000 bushels, a
decrease of 623L000 buehels for tho
week, and compares with 33,782,000
bushels, a J car ago. In Canada, It Is
06,549,000 bushels, an increase of 4,414,
000 bushels foi the week, and compares
with 47,393,000 bushels last year.
Leading futures ranged as follows.
Corn mew aeuverjj
Open lllsh Low CIoi . close
1 Sll 1 174 1 31S 1 SB), 1 IVi
1 33 1 38 1 31H 1
December L e a il & Advance.
Close Is Steady at Gains of
Five to Forty Points
ANNUAL ELECTION
lasspi T11E UEMlt-VL I..YT10.VVL 11AK
3 OF 1-lULAHhU-lllA
"""SV "December 10. JD18
? Tha Annual Election for I)Erftnt- nr .,.
Cf-AWjUnk -"111 be held at tho nanklne House on
Kg - Tnidy. January 14th. 1019, between 11
J(A.tJ t a. Ul U1U A Ilia
SjBtfSl vnl' T- cormAD.
&,','- .
iHh rat
Cashier.
SKI
jw i
m
LEOAL ADVERTISEMENTS
IN THE OKI'HANH' COCBT FOIl
J5Ji?. th County of l'blladelphla
bJS October Term. 11118. No. 504.
i
S3f
Sstats of Charles llolweEer, deceased.
1i..' Knlle Is harebv elven that Vlnrla u ,,.i
'ir-irix; ,",- -.u-iiv-jr-i-"!."'. "?
-; vrcaivr. wiw w. i,i nam ueceueni, naa
. J-,, In tb said Court her petition, clalmtna
r , of the decedent to the value of I50U. as
vded by section 1
lit 7. and that the
the Court on Frtda
at time.
nied
cash
of the Fiduciaries act of
, Mity uu upprovea Di
January loth, lnifl
niea before
7, and that the same may be ann'roverf hv
1".v"l.a K w. PtAw Tam..k n.l. a.
1 ? unless exceDtlons thereto be
EVAN n. T.nwrta
Attorney for Petitioner.
71 H
715
71.
7JH
71
71'i
Tan . .
May . ..
uais
Jan . . .
May .
l,aru
Jan ....24 40
Mav ... 21 27
nibs
Jan . ..24 62
Mav . . 23 73
1'orK
Mav "!'.4.' SI 43-40 i'S-Z
Did tAsVed
1 35H
lY
71'4
7i:
24 nn
24 40
24 SO
24 12
24 02
24 02
24 62
23 02
2 1 01 24 no
24 23 t-'4 32
24.75 T24 71
23 1)0 23 77
47 30. t40 00
43.03 42 30
Hatoplloa Mln. 1 1
Jfetn Stpel.... OJVi
do pref... , 89 '
do B OS's
do 8 pc If .101
BrooMjn n t. 33
Booth l-'lji Co 23
Butte C C7. Co 74
Butto & Sup C 20 74
Cal Petroleum. Si's
do pref . 69'i
Canadian Pae 160
Ontral Kilv Co 10
Central Leather 01
I'erro do Pasco .11
I'hesa A. Ohio. . 67
Uil Git IVesln 8
do pr 26
Chi JI i St V 44
do pr 78 Vi
Chi & Xthwst.lOO
C It 1 & Pac tc 26
CIII &. P 6 pc pf 68
C r C .C St L . 37
('out Inn I'n. . . Kfi
'Chile Copper... 19U
HELP COHON PRICES SiSSi l
, I'onsol Gas . . . .100
Coin Prod .... 48 Vj
Crucible Steel. 57
Cbba Cane Hag 30
do pref 80 'i
Pel S. Hudson. 110
Oel L .L W 176
Drum Mines... 12'
Dls Secuiitles.. 62
L'rle 18 H
do gen Hen. . . 68
do 1st pref ..31
Pert M (c S pf.. 3ir.
Gaston Williams 30
Gen Cigar Co. 47
Gen i;ieo Co . 151
Gen Motois ..12'i
Goodrich JJ p. 67
Gt N'or pref.. 97 '-j
do (lie subs. . 3.1
Greene-Can pp. 47'i
Gulf States Sll 64 ,
Haskell & Ultr. 4BVj
lilt Agrlcul ... 14
do pief lit
Insplr Coppei . 17' i
Intel b-Cons Cp 6'.
do pref 25
Int Mer Marino 27
do prcf .. ..111
Int Paper . ... 33
Int Nickel 33
Int Up Tr pref. 78
Kan City Sou.. 20a
Kelly-Spring .. 71
ICennecott Cop. 31
Lack Steel 69
Lehigh Valley. 59
Leo ltubber &T 23
Loose-Wiles BC 44
do 2d pref.. 95
Man Hock ... 82H
Hanliat Kl ... 92
Max Motor ... 28
do 1st pr ... 52'-
do 2d pr ... 21
Met Petrol . .170
Miami Con Cop 24 H
Mldwlo Steel . 45
Mo Kan ic Te 5
do pref .... 11
Missouri Pac... 26
uo pier utVi
31)
68
56
67
41 1
01 ..
81
108
17
66
97,
86 2
101
105 2
99
0J
29
45 -
64
93
7 7',i Vt
110 110
G5 05 2
75 76
200 200
5 Hi
lUu'j
114
62 1
88
62 1
101
31 1
23
7
20
21
61 ..
158 1
105 195 .
99 "1 99 V
62
29
461,
644
93
20
21
158
New "iork, Dec. 18.
Large exports, both from N'cw "jork
and southern ports, and heavy sales of
tho spot article at Galveston stiffened
the lotion market lodas, aft'i it bad
sagged on the ilrculutlon of cmite a
number of December notices, which
wero estimated at 3000 bales
December led thu advance, selling as
high as 29.44e, and as the demand for
this iiosltlon developed orders to buy,
to lit prices for mill account, were le
celved. home brokers believed that tho Prcnch
Government was buying contiacts. Re
strictions on imports of L'gMitlau cotton
have been removed.
Tho close vv.is steady at a net advance
of 5y10 points.
Vesterdaj a Todaj's
eloso opn Iltsh l.uv C'Iosh
December. 28 3(1 2N DO 2U 1 1 2S 22 2S SIP
Januarv.. 20 IMJ :n 111 27.10 21171 27 JU
Vlarch ... SIM 2107 I'll jo !-, 71 111 1 J
May 24 ill) .1 21) 21 H 21 115 21 2N
July .... 11.1110 J I. Ill 2171 2131 24.11
October . . . . 711 22 75 22 41) 22 53
RESERVE BANK DIVIDEND
ifS-'SSd
2 ' LUV1W ! U Dimni.l. n b.-. -.
fU , deceaseelLetters of admlnlatration
lx?., 1 ..'. am the above estate bavins- been rranted il!
. underslcned, all persons Indebted to tha
oae havtnf? clalma to nreaont th &..'
sithout deUy. to "
- .1. EDITII VL TATLOB.
Br7 "i- . North Watta st.
t ' Br ber attorney,
?? CLINTON A. POWETtS
": sos Stephen Qlrard Dlds.
&$''
Ri, t
m
itX" '
. rt.v"
tr
tefsi .
.'V.
m -
fmJr
rT in1
w
"wft,, .
COTTON
rYARN MAN
We have opening
for experienced
cotton yarn sales
man to manage
cotton yarn de
partment. Ad
dress Box A 23,
Ledger Office.
Ji
jf SPANISH STEAMER
PURKIOLA MENDF
fji raosi
rniLAiitiLrniA
FOB.
iCADIZ and BARCELONA
About January 5th
Ifor nreUht. Space) and
Kate Apply to
j, Davis & Co., Agts.
318-320 Wftbiat Street
PklUdcIphU
'iMtM ZaalHW41 'Mfrl-V f
J ;wtv i"n " '.'.fj,t.f
-. - -m
SHIPPING CONTROL TO STAY
Assistant Director of Operations for
Each P.oatt Section
IVashlnRton, Dec. 18 Plans for con
tinuing control of shipping through the
division of operations of tho shipping
board after January 1, when the ship
control committee will cease to exist, are
taking shape.
It is proposed that each coast Bection
will have an assistant director of opera
tions to control shipping locally, and
that general supervision will be centered
at Washington under J. II. Tlosseter. This
arrangement aireaciy is in eneci on tne
Paclno coast, wnere inere are assistant
directors at San Francisco and Seattle.
Allocation of shipping heretofore
handled by the ship control committee
will be dealt with by the division ol
operations.
DIVIDENDS DECLARED
Eureka Pipe Line, quarterly of $5 a share
payable February 1 to holdera of record
January 13
Manufacturers' Light and Heat Company
JMttBbuigil. Quarterly of 2 per cent payable
January 13 to holdem of record December
31
Duluth Edison Electric Company, quarterly
of m per cent on preferred, payable Janu
arv 2 to stock of record December 21
Republto Hallway and Light Company,
quarterly of 114 Per cent on preferred paya
ble January IS to stock of record Decem-
'carbohydroaen of America Company,
..mlannnil nf 3M BPt Cent.
American Surety Company, quarterly of
2 per cent, payable December ai to BtocK
of record December 21
Eureka Pipe Line Company, a dividend
of $. payable February 1 to stock of record
January IB.
Canadian Car and Foundry Company,
quarterly of IS per cent on preferred, pay-
Sole January iu iw .iuva w. ictuiu Janu
ary 1,
Ileadlns Traction Company, semiannual of
73 cents per share, as registered December
20. Books close December 20, open Janu-
lrDetrolt Edison Company, quarterly of 2
per cent, payable January 15 to stock of
record December si.
Vlrslnla-Carollna Chemical Company,
quarterly of 1 per cent on common and 2
per cent on preferred. Common Is payable
February 1 to stock of record January 16:
preferred January 15 to stock of record Do-
"neadlns" Company, quarterly of 2 per cent
on common, payable February 13 to stock
of record January 23 and 1 per cent on the
second preferred, payable January 0 to
stock oi recom uncmy
Extra by Buffalo and Susquehanna
New York, Dec. 18. The Buffalq and
Susquehanna Railroad Corporation has
declared, on their common stock, to
make 7 per cent for 1918, a dividend of
of 1 per cent, and an extra of 2 per
cent, payable December 31, to voting
trust certificates of record December 21.
IlegUlar semi-annual 2 per cent prefer
red dividend, payable December 31 to
voting certificates of record December
21, was also declared.
Local Federal Institution Brings Pay
nienli Up to Dale
Announcement was made todav that
tho Federal Hcserve Hank of Phlladel-
nf 6 per cent per year for the period ' N'at Acme
trom June 2U to Dcccmoer 31, or this
year.
This Is the fifth dividend declared by
the local Federal Reserve Bank and with
Its payment the Reset "e Hank will have
disbursed a total of Jl, 335. 000 to mem
ber banks since Its organization. The
member banks are entitled to cu-nulativr.
dividend at the rate of 0 per cent per
annum upon the ptld-in capital.
Tho dividend will be credited on the
hooks of the Federal Reserve Bank on
December 31 to the account of the mem
eier banks which own the stock In the
Reserv e Bank.
The declaration today calls for the
pament of $.216,000 nnd brings divi
dends up to elate
After December 31 tho banks will set
up a reserve account.
MONEY-LENDING RATES
NEW YOIlK Money on call, mixed
collateral, opened at 1 per cent; high
4 ; low 4; last 4; closed 4(&4; rul
ing rate 4 per cent Industrials open
ed at 5i,i per cent; high E ; low 4 ;
last 4; closed 4 05; ruling rate 4
per cenL
Prime mercantile paper shows con
tinued ease compared with the condi
tions existing up to last week and high
grade paper continues to bo discounted
in New Hngland, principally mill paper
going at 5 per cent.
In the middle west, some paper is be
ing discounted at 5 per cent, but the
market in New York is mainly a 6 per
cent one and the demand Is only mod
erate. Prime bank acceptances aro fairly
active at unchanged quotations of
44 per cent for prime member
bills; 4 7-16 4 6-16 per cent for prime
non-members ana &jui per cent for
lnellglbles.
Call loans on prime bank acceptances
are unchanged at 4 per cent.
PlIII.Ain'I.riUA Call, 6 per cent;
time, 66 per cent. Commercial pa
per, three to six months, C 6 per cent ;
six months, 6 per cent.
IJINDOX Money Is quoted at 3 per cent
Discount rates. Short bills and three-month
bills, 3 17-32 per cent.
Nat Con & Cab 17
Nat l.n & Stpd 40 'i
N" O T & Met. 33
NY Central... 76
N Y C & St L.. 30
N Y Dock 25
N Y N II & H 34
N Y Ont & Wt. 21
Norf South ... 19
North Amer. .. 51
North Pac 95
Ohio Gas 43
Ont Silver .... 7
Owens Cot 49
Pac'llc Mall .. 38
Pan-Am Pet .. 07
dr. pref 117
Penn R R 40
Peo Gas & C. 53
Pere Marquette 14
Phila Co 31
Pitts & West.. 36
do pref 80
Pierce-Arrow . 42
do pref 100
Pierce Oil .... 10
Pitts Coal 47
do pref 85
Pub Serv Corp. 90
19
60
34
60
8t
25 'j
42
78
99
rS?
67
37
60
19
31
39
38
!")
17
67
30 "
S0
1111
176
12
51
17
58
30 Kj
39
.111
46H
161
127
56
97
32
47
61".
45
14
61
47
l,
25
26'4
109 111
32 3
32
78
20
70
34
60
58
23
43
95
82
91
-28
52
21
105
24
45
5
11
25N
54H
29
16
40
32
76
30 'i
24
33
20
19
51
95
42
7
49
38
66
117
40
5J
14
31
30
80
42
100
16
46
85
90
19
to u
.14
51,
'i ..
25 'A ..
42 1
78
100
25
07 H-
37
66
IS
34
39
38
99
48
67
.10
80
110
170
12'-'
51
17
58
30
.11
Jll
41.
161
128
66
97
32
47 '-j
59
45
14
51
47
6
25
6
New York Bonds
-.. . "ih
3000 Am Agr cv 5s. u.i
1000 Am Cot Oil Da. 87
214GOO Anglo-Fr 6s... 97 ,
BOOOAm II . L 6s. 99
200000 Am For Seo Bs 99
11000 Am Smelt 5s.. 92
17000 Am T & T Ds. 95
51000 do 6s
Low
871
96J
99
92
95
...101 100
atiuuAm T cvt 414s ;u
11000 Am W Pap 6s. 88
1000 Atchison 4s... 85
10Q0B & O 5s .... S7
13000 Bkn Rap Tr 7s 93
20000 Bordeaux 6s.. 100
1000 Chile 6s 84
1000 C & O cv 4s 81
2000 do Cs 99
1000 do 4B . .. 81
2000 , do conv 5s . 81
10000 Chi &. Alt 3s 40
23000 Chi tit W 4S.. 03
61000 C B & Q reg 4s 95
6000 C B&Q III 3H 79
10000 C M & St 1' 48 65
11000 do rfd 4s. 76
17000 do conv 5s. . 85
75000 do cv 4H . . 82
5000 Col & So 4s . 65
84000 City of Par 6s 99
15000 Del & II cv 6s 97
6000 Dom Can 1926 97
10000 do 1931 .... 97
9000 Urlo eonv 4s
ter A . ... 51
1000 docv 4sser II 61
13000 docv4sserD 64
29000 Frch Hep 68 104
Riinneleti niec 314s 70'4
40000 Intcrh Met 4s 46
91
88
85
87
113
100
81
81
99
81
84
40
62
95
79
55
70
84
82
65
98
97
90
97
51
54 .
104 1
7"
45
Close
89
871
96
tiuys
99
y
951
101
8'8?i
85
87
93
100
81
81
99
81
84
40
62
95
79'3
65
76
86
82
66
99
97
96
97
51
50
61
04 ?4
7"
45
60000 Int -Mer M 6s .101 100 101
1000 Kan City So 6s. 80
4000 Kan C T 1st 4s 81
6000 Lack StI 5s '60 88
2000 Lake S d 4sMl. 81
1000 Llg M V 7h. 112
129000 Lib Bond 3H. 98 14
219000 do cv Is 93 10
.14000 cln let 4s... 93 30
1455000 do 4s 90 12
5500O do 1st 4s.
1004000 do 2d His. ,
2257000 do 4th 4s.
2000 Li'ins 6s... .
18000 Leli V ret 6s
86
81
88
81
112
98 111
93 02
93 10
95 90
97.20
95 16
95 40
1011 100 100
101 102 103
14
95 62
95 0
80
80
88
89
112
98.00
9.1 00
93.10
95 84
97 20
95 16
95.40
Philadelphia StocJcs
- ItUh
8KB & H t c 75
25 Uo Pref. 00
03 C Ux Nat
Bk war. 150
60 HI stg U 54
lOOKrlo "... 18
2076 Gen Asph 40
2S do pref. 78
HOInsCNA 20
8 J O Brill
,PKt ... 70
10 Key Tel. 11
,22Leh Nav. 73 .
92Loh Vnl. 59
312 Penna UK 46
206 Phila Kleo 25
120 do war
w I .. U
40 Phila Co
cum pf. .12
160 PUT to 27
lTon Mln. 2
10 Un Tract 39
111U O I... 74
630 U S Steel 96
17 W J & S 45
10W Cramp
t o .... 81
Net
j,ow Close chac.
74 7 ,,
66 66 V
110 150 ..
B4 64 .. ,
39 39
78 78 ,
26 20
70 70
11 U
72 7. .. .,
58 08
46 46
25 25 ..
32 32
27 27
2 2
39 39
74 , 74
96 96 -(J
81
81
'
1
8
3J
78
20
70
34 S
69
58
1
1
1
23 '4
44 -t-l'
95
82
92
281
-MM:
1
52 'i i
21
00 1
24
45
5
11 1
25
54 1
2914 l
16a. i4
46
32 1
76 1
30 2
24
33 1
20
19 1
51 2
95
43
7.
49
38
06
1000 Manh.it Sta 4s. 49 19 49
GOOD Marseille 6s. ,11111 100 100
290(0Mlda!c 5s ... 89 89 89
5000 Mo Pac Os 99a, !i!ic, 99
42000 do gen 4s . 01 63 illft,
101)00 Montana Pr.6s!)2 91 op,,
101100 NYC & H 3s 75 75 75
5000 do eon 4s... 77 77 77
2000 do 6s 100 100 100
8000 do 4s 80 86 86
3000 N Y C 4 G4s 97 97 97
3000 do 4 03s .102 102 102
3000 do 4s May
1957 102
2000 NV.VH H II 6s 91
6000 N V Rvvy 4s.. 47
20000 do 5s 15
26000 NY Telgen4s 91
mnilVYWCcV:B4B 60
33000 Nor Pac pr 4s 87
2000 do gen 3s.. 01
1000 Oie Sh L Os. .104
1.1000 Pa gen ct 4s 12
2000 do eon 4s. 91
1000 Peo Gas 6s .101
1000 P. Serv NJ 5s Mi
2000 JJrco Oil '24. 89
3000 Pere Mar 5s . 89
5000 4'lerco Oil '20. 99
6000 Rend'g gen 4s 87
5000 Sinclair Oil . 95 !,
4000 Scab A L ad 5s 55
43000 Mil Pac cv 4s 85,
20000 do cv 6s. ..102
.12001) Mil Rwy Is. . 1,9
22000 do 5s 91.
5000 Third Ave 4s. 51
16000 do adj 5s 32
40000 U S Hub 5s.. 87-'i
59000 do 7s 102 ,
18001) II S StI sf 5s 100
10000 Union Pac is. 8S
5000 do Os . ...105
73000 U K of Q IS &
I 5s '19.. .99 99 99
99000 do 6s 11 '19.100 100 100
39000 do 5s "21 .. 98 98 98
Total siles. Jll, ill 1,00(1, , umpired with
HI. 317 (Hill jeslerddv: thus far this week,
JI1..II-.' Dill), same period lust week, J2D,-8SS.UO0
Total sales. 4201 shares, compared with
7928 shares vesterdnyii thus far this week,
1(1.32.1 shares, samo period last week. 20,317
shares.
IIONDS
..,, . I'111 Low
$1000 Am O &
H Os... 86
2000 City 4s
1941 .. 96
100 Lib Bonds
2d 4 Ha 95 30
200 do 3s. 97.50
2400 do 2d 4s 93 00
450 do 3d
i Us ... 95.00
2100 do 4th
4h ..9551
3000 Leh V con
6s reg 103
6000 Phila Klec
1st 5s.. 95
Total sales. J43 05O, compared with J24.
00O estrda , thus far this week. $148,050:
suma period last wtolc t203,000.
Net
Close chKC
86 86 -r-
96 96
95 30 95.30 .40
97.60 97.50 .30
92.60 93.00 ..
95.60 95.60 ..
95 DO 90.52 .18
103 103
95 95 -1-
GENER AL ASPHALT COMMON
HOLDS ALL EOCAL INTEREST
Bulk of Business on Philadelphia xcliangc Is in That
Issue and It Advances to 4014, a New Top Since
1914' Other Issues Are. Slow
iiio outstanding feature, of today's trading on tho Philadelphia StockJ
lilvrlmnpf tuan t ......... , - , . 1 .. T M.
"" "" " tiuiiviiy uiiu tsireiigin 01 uenerai itspnaii common, umer
issues -wero slow, and most transactions were confined to small lots, although
tho market was fairly brond, and prlco changes -wero Irregular, but generally
unimportant.
Nearly all business In General Asphalt, Jitfwevcr, took placo during; the'
first hour, when It showcd-lts Vest strength and advanced ?i to tho nevf high
record prico slnco 1914 of 40, and in tho late afternoon It sold off as low as
39, from which it recovered to 39, a trlflo above yesterday's final quotation.
Tho preferred was slow, but advanced early In tho session to TS.cquatlnfr
Its high record for tho last four years, established about a week ago, and,,
later In tho day it remained Inactive.
One of the Interesting developments was tho trading in Corn Exchange
National Bank warrants to Us now stock. They appeared first at 110, but
later advanced to 100, with transactions small.
Iiehlgh Navigation yielded 1 point, but recovered beforo tho close.
Union Traction lost and Tonopah Mining, on n single-share transaction,"
yielded tho samo amount, while United Gas Improvement advanced .
Philadelphia Electric stock warrants held steady and unchanged, ds did Rapid
Transit certificates.
Changes were small for tho railroad group and business was light. Penn
sylvania lost a fraction, Lehigh Valley was unchanged and Buffalo and Sus
quchanna trust certificates gained and Its preferred moved up , reflect
ing announcement of an extra dividend of 2 per cent.
Local Bid and Ashed
Today
Hid Asked
7.- SO
. B r.u
102 102
91. 9116
46 'j 17
U H
91 91
6'1 66
87 87
1.1 61
101 101
92 92
91 99
101 101
SOU. 80
89 89
89 89
99 99
87 87
95 95i
65 65
85 85
102 102
69 69
96 96
61 54
32 32
86 87
102 102,
99 99
88 88
101 105
117
46
53
14
31
36
80
42
100
16
47
8574
90
Pullman P C.119 119 119
Ry Steel Spring 74 -h
Ray Con Cop.. 21
Reading 83
Hep Iron & Stl 75
Royal Dutch .109
Savage Arms . 61
St L-S F 15
do pref 30
Seaboard A L 9
do pref 19
Sars Roebuck.168
S-S Stl & 1... 61
Sinclair oil... sji
74 11
21
82
75
103 4
511'. la;
14 1
30 3
8 1
18 1
167 167
01 51
33 33
'4
21
82U
75
103
61
14
30
8
18
LIVESTOCK QUOTATIONS
( hiriicn. Dec 18 HOGS Uceelplo .55,.
0OO htaj; about steady with vcsterd.ty's
averHBe; very Blow; sales cm common pack
ing unci underweight light. Hulk of sales,
$17 :r.ta)17 UO. heavy butchers, M7."i(iM7.(r.,
medium und HKht buUheia, $17.4517 115.
llsht $15 r,, efc 1 7 45: heavy puking Sli! ui
017 .15: medium and Ueht pnckliitr. $17 K, Si
17.40, throw-outs SHI SUiflU 5U, piss, food
to .choice Jl.17r.5fir,.
CATTLE Receipts 15 000 head, fat and
feeder steers abuut stepclv with jeslerdty'H
close: fat coms and helferH slow lo lower:
cannera steady, calves shut ply lower lleef
rattle (food, choice rnd prime. $1.5 Zftv
11) 7.5: common and medium $0 231.-, 25
butchers' heifers 57. 2.5 Sf 14 23, cows, S70i)
1.1 .50. stockers and feeders, enud, choice
and fancy. $10 25(it 13 5(1, inferiors common
and medium $7 25(0)11) 25, veal calves eood
anil choice. $154615 5(1
MIGEI Receipts, 15 000 head: slow, un
dertone weak on killing erades, feeding
lambs strone.
1'lttsburch. Dec. 18 HOGS Receipts.
101)0 had Stead). All Rood nogs $17 03.
CATTLE Receipts. 100 head. Calves, top.
$11) 5(1
SHEEP Receipts. 300 head. Steady. $10
Lamps. $15 ba.
South Omaha. Dec. IS. HOGS Receipts,
22.000 head. Steady.
CATTLE Receipts, 0500 hcaif. Dost
stead : others lower.
SHEEI' RecelptB, 13,800 head. Steady to
weak.
East Iluffalo, Dec, 18. HOGS Receipts,
00O hentl
CATTLE Receipts, 160 head.
SHEEI" Receipts 400'hvad.
Kansas City, Dec. 1R CATTLE Re
ceipts 14 000 head. Steady to weak
HOGS Receipts. 34.000 head: 16c to 10c
lower
SIILEP Receipts. 4500 head; 25c to 35c
lower
7il
fill
77
10
t .
IH'i
Hurt & f-usq I e
do preferred .
Brill. J. el ....
Baldwin ..
Llectrlc Htoraitrt
General Asphalt
do preftrred
Kr stone Tele . ..
do preferred t
Lako Sun c7om .j
LchlKh NavlcmlloluA72
i.enien valley .rsr .4
Lehicll Vnllev Tr,. 14
do preferred . . . 24a
Pennsylvania ., .. 4(1
Philadelphia Lite- . 25
Philadelphia t'o . . at
do .5 per cent pf . Wi
do (I per cent pf . . .'U'lS
Readlntc (.24
Tonopah Ilelmont . 214
Tonopah Mining . . 1
Union Traction . . 31)
IT O I 7.H4
IT H Meol . OH
Wm. Cramp I HonH, bo
York Rnllwajs .... 7
do preferred . . 31
Yeaterdav
Hid Asked
71 74
63 004
U
Sell Your Profit-less Assets
24
i
25
Silt
LOCAL MINING STOCKS
TONOPAH STOCKS
Hid
.Tim Rutler 15
MacXumara 22
Midway in
Mlzpah Intension (Ill
MontanR .. 14
North Mar 07
Rescue Kula 08
West Hud 1A
GOLDFIKLD STOCK.
Atlanta 05
Illue Hull OJ
Rooth 1-5
Dlamf II 11 02
Daisy 2
Kowanas 0(1 ,
Oro Ol
STiearheud -.. .-
Silver Tick 07
MlhCULLANLIOUS
Vev nrln Wonder . 7Q
T.'mU'ATIONAT,
llotli Her
South Pac
South R R
do pref. .
Htudebaker
..102 101 101
Stutz Motors.
Sup Steel. .
30 30 30
69 69 69 ..
62 51 51
51 00 00 1
30 30 36
Vwoa Kr I'nn. . 26'A 26 26 Ve
Texas Co 188 187 188 1
do rts 15 15 16
Third Ave R II 14 14 14
Tob Prod .... l-i 81 "'is
do pref iua luo'i iu-',l -t-i's
T S L Wp ctfs 10 10 10 'S
Union Pac ...129 129 1B9
do pref ... i-'h i-jvi izvj
Unl Cigar Strs.106 105 105
BAR SILVER
Today Yi
Last
Wed.
1918
Ills-h Low
NewTork (cts)lOlU lOtVi 101 H 101 86
London (pee).. 48A 48 A 40 42
United Firemen's Pays Extra
The Unltesd Firemen's Insurance Com
pany has declared a regular semiannual
dividend of 4 per cent and an extra divi
dend of.a -tr oent. payable December 30
,'to U8attheMr M. reword, December 29.
FOREIGN EXCHANGES
New York, Dec. 18. The foreign ex
change market In the early dealings to
day was somewhat more active than of
late and the feature was strength In the
neutrals, particularly Swiss and Stock
holm. Under existing condition we should,
be Bhlpplng gold to tho neutral coun
tries but, as the gold Is not going out,
our exchange continues at a discount
In the neutral capitals.
Swiss cables rose to 4,82 and checks
to 4.85, a gain of over five centimes
compared with a week ago. Stockholm
reached a new high on this Immediate
movement at 29.70 for cables and 29.50
for checks.
TTrpnch. exchange was silently nrmer.
while lire checks were slightly lower,
showing the first change in this class
of exchange for several months,
Quotations were: .
Demand sterling 4.70 11-16, cables
4.76. Sixty-day bills, nominally
4.73 mnlnety-day mils 4.7lj.
FraO cables 5.44, checks 5.40.
Llrecables 6.35, checks 6.37.
Swiss cables 4.82, checks 4.85,
Guilder cables 42, checks 42.
Pesetas cables 20.05, checks 19.98.
Stockholm cables 29.70, checks 29.50.
Christiana cables- 28.31V checks 28.15.
Copenhagen cables 27.20, checks 27.00.
Ruble notes were quoted easier at
17al7.
DANK CLEARINGS
Dank clearlms today, compared with cor
responding day last two years:
1918 1H17 110
Thl!d. ..STl.II.5a. 163 I0().I'H5.734 S51.nlli.naS
--i- .---i ... ....,,... i.i'iii';:.
N. YorK uzu.szz.l-M uu.nny.jun oiu,slu,;:3ll
a,j,vva
Uni Dr ISt pf. 4Ui 4!)Ji 43, ,'
United Fruit ..153 153 1B3 -t-l
US C I P & F 15 15 15 ..
It S Ind Alco.104 103 103
U S Rubber .. 79 78 78
do 1st pref. ..109 109 109 ..
U S SmelULRef 47 47 47 ..
U S Steel ..... -'IY JO'S .
TItnh CoDoer... 75 74 74
Utah Seo Corp 13 13 13
Va-Car Chem... 55 54 54
Va Iron C & C. 00 56 66 ..
Wabash 9 9 9
do prcf A.... 36 36 36 .
West Md 12 12 12
West Pac 21 21 21
West Un Tel., 88 88 88 1
Westg'se,Mfg.. 43 43 43
itrho.l & T. II nf 19 19 19 ..
Whitfi Motors.. 45 46 40
Wil!ys-Ovld.. 25
do pref. 88
Wilson Cov.... 77
Worthlngton P 55
do pf B 68
Rr7777775JEIi
FOR SALE
I 1826 S. Rittenhouse Sq.
Handsome stono front
Acerwood Tutoring School
mAtn the needs of children who renule
Individual Instruction to advance la
school work, excellent rare lor pnysl
!! weak and undeveloped children.
Manual work, cardentna. athletics. Out
door life. i,arcs erounas uevon. ra.
25 minutes from I'nlladelplda. Catalor
Mist Devereilx, Principal
DOX A. DKVON. I'A.
RnOllTHAND AND HOOKKEKMNO
Our e-raduates aro In constant demand. Good
Eaylne positions nwalt you tlreBff Short
arid, tho easy, apeedy system. Complete
nlsht classes. Intensive training-.
l-.nroil any luiir- a.i ur iTrivn
for full particulars and catalofr
l'HILA. IIUSINKSS COLI.l.CiL
nnd Colleae of Commerce,
1017 rhotnnt St.. rhlladelnhln
Languages
BERLITZ
SCHOOL
1611 CHESTNUT BT.
(Kntrance on KUh t.t.1 . . ,
TERMS MAY ilK HDOUN AT ANf TlMK
LESSONS
structlon,
trona at
IN English wanted: private In.
. Apply Sphlman. 2222 N. Na-
CTDAVI7DIC The Rest Uuslness School
OlKAiriKS o07 ritnsTNUT ST.
a
a
n
a residence with every n)od-
a pvn nnnnint.mpnt. inp.lllfl.
H ing electric light, hot- fe
water heat, open nre- rJ
I places. Seven -bath rooms ; t
I attractive hall, reception
U rooms and library. Ex- j
8 posure in rear very open
and to south and east,
Lot 36 x 100 ft. to street,
EDGAR G. CROSS
1411 WALNUT STREET
yeUEI3l3J5M3I3
FRENCH lessons Blven by Beluian centle.
mffi nt moa"ntA nrlr A 105 Led ntf
-.
It.
Peall Conservatory
All wind nnd string Instruments tausht. Also
1 'lane--voice l-.iocuiiou crnmaciu ri.
l'hone iiocrn 110111 cmaiu.
13 ' 10t Nerll, llrnf.,!
1714 flientnnt Kt.
PARCEL POST
Leg Comfort
l I jK?
r?l ) lffi
fa .J
Don't suffer from varicose veins.
awnllen leas, weak knees and
ankles or other leg troubles which
poea constant, certain suppori.
CORLISS LACKD BTOCKI.MJ
will make you happy and easy,
'ihrow away torturing elastics
or troublesomo bandages and
forcet les troubl&s. Corliss Laced
Stocklnv made to measure, with'
out elastic, wear for many
months, washable and sanitary,
light and durable. Cost ojiI
SU.U5 each, or two for the same
limb, X3.75 and you'd gladly
pay much more for the support
hdci esse. Call and be measured
free, or write for self.nteasure
ment blank No 5.
Hours 9 to 6 dally; Bat. 0 to 3 80
We also make abdominal belts
(elastic atid non elastic) to order.
Pennit. Corliss Limb Specialty Co.
mi-li-lo riUxrt St.. &!!,, l'.
You can Up
us out and quit
any time with
out disturbing
your custo
mers, your
business or fi
nancial ar-rangemente-
Do you realize that some of your Assets are
producing absolutely no profit and that you
are lending part of your capital to "your
Customers in tho form of credit?
Do you realize that if you had cash instead
of Accounts Receivable, with which to make
the discounts on your purchase bills, and
mako more selling profits, that you would
pay us probably less than the discount which
you offer your customers ?
Why not sell Accounts as well as merchan
dise, or Notes or Acceptances received
therefor? Sell any asset if you can make
anotler profit.
Why not let us discount your Accounts in
stead of your customers and for probably
less than you offer them for cash. Vou have
no notes to meet and your customers pay
us on.
'We make your business liquid and enable
you to pay your creditors quicker improve
your Credit and make more money.
IVlllllflltll
' Ellil
Commercial Credit Company
Cash Capital $2,250,000 Surplus $450,000
BALTIMORE
represented at
PHILADELPHIA. B12 Stock Exchange Bid.
(Phone Locust SID)
NEW YORK BOSTON CINCINNATI
Affiliated with
Commercial Acceptance Trust
' Cash Capital 1,000,000
20S S. La Salle St., Chicago
niiiiiuuii
UNITED
GOVERNMENT
LIBERTY LOAN BONDS
Rat ' Callable Due
3 1932 1947
4V4 1932 1947
4 1932 1947
4V4 1933 1938
4. 1928
4V4 1927 1942
4 1927 1942
Approximate
Yield to
Interest Callable Date)
Payabl - at Marktt
JUNE 15 O 7fl07
DEC. 15 'u 10
JUNE 15 C Jo
DEC. IS tsOI'o
JUNE 15 eg0
DEC. 15 liDOyo
APR. 15 eqo
OCT. 15 W?70
M'CH 15 7o
SEP. 15 ' 10
MAY 15 Ogo
NOV. 15 IsOOyo
MAY 15 OCo
NOV. 15 tiOO lo
550, ilOO, $500 AND $1000 DENOMINATIONS
FULL .INFORMATION REGARDING THE TAX
FEATURES OF THE LIBERTY LOAN BOND
ISSUES WILL BE FURNISHED UPON REQUEST
MONTGOMERY & CO.
1SS SOUTH 4TH STREET
PHILADELPHIA
14 WALL STREET
NEW YORK
OOVKHNMENT SECURITIES DEI'AtlTMKNT
XELEPUOMSS. HULL. LOMUAUD 4320; KEYSTONE. UAIN
!3
tlnttnn.. BH. (1(17.01)3
Baltimore 14,025 055
41,701, una
-,nui,u,ni
25V 25H V,
88 88 -fl;
75 tt iavt i
54 54 H
G8 08
.
n...... .l.. qjfl Tnn l.ai Amnared nttli
481.100 share's sesterdayf thus far this weel.
1. ins, lew snares, caw- uciiiu o. ,v,.,
1,411,400 shares
Ex dividend General Chemical preferred.
15 American Locomotive, 1!4 i Loose-Wiles
first preferred, 1?4.
CHICAGO BUTTER AND EGGS
Cbleaco, Pc. 18. BUTTEri Receipts,
665T tubs. Unchanged.
Baas Receipts. 12,445 cases. Unchanged.
ST. LOUIS
MINNCAPOUB
DALLAS .
HOUSTON
ERNST & ERNST
AUDITS and SYSTEMS
NEW YORK
PHILADELPHIA
CHICAGO
BOBTOn)
PITTSBURGH
DETROIT
CLEVELAND
CINCINNATI
l'rices Ileuvy on Paris Bourse
rrl. Dec. 18. Prices were heavy on
the Bourse today. Three per cent rentes,
61 francs 95 cenllmeB for cash; ex-
-kMA nn T.nnrinn. Sfi frnnrfl 0.71,4 cell-
times: B per cent loan, 88 franca Id
IbtetSx, viMom ai.w7.iu 4;:u:; icatbMft- , a j - ,j f
We announce the opening of a
Philadelphia Off ice located in
rooms 2023 and 24 Land Title
Building fully equipped to ren
der complete audit, system
and tax serviee.
'jtiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiijiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiuiiiiiiiui
The Lesson of
Liberty Bonds
Very likely you're one of the many million to whom
the possession of a Liberty Bond was their first proud
experience in the owning of securities.
At that time you bought from patriotic motives.
But in tho future you will buy bonds for purely per
sonal reasons.
Your experience with Liberty Bonds taught you
three things:
1, The real meaning of a bond.
e. The self-satisfaction of owning a really good
security which will regularly pay jott tnferesf.
5. The rapidity with 'which you can save and its
protection for tho future. ,
Let' us-tell you of other bonds which can 'bo so pur
, chased as to givo you a regular monthly income safe,
sure, self-satisfying.
5
West & Go.
BANKERS
1417 CHESTNUT STREET .
ut.... I New York Stock Kachanje
Members , jpjaudelpalis Stock Kichapaa
nmmmmuiiiiiiiiimunmiiimiiMii
v.j
v
w
4
A
m
Vil
rr
'.:
. n
jr ytr:t'i
rX Wfn ol,