8K.tt " " ' ' ' n ftfttytfy iHm$
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ir
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S V.
is-
EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, DECEMBER 10, 19lS
-
JVEWS OF 77ffi FINANCIAL WORLD NEW YORK. AND PHILADELPHIA STOCK PRICES"
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?l, United States
i a i iiion
) HI -Ltatal T-m.MIL . i
I
United States
1 and Allied
Government
Bonds
We recommend for Invest'
ment and are prepared to
buy or sell:
United States Liberty Bond
nil Irsues
, American Foreign Securities
S Tr. (la 1910
Anglo-French A Yr. Ss.lAtO
Argentina Govt. .... 104 J
Cltr or Dordeanx 3 Tr.
...t ,....101
Cltr'of Lyons 3 Tr. 1BI9
Cltr ot Marseille! S Tr.
s .' 1S1A
Cltr of Pari S Tr. ..1
Unmlnlnn of Canada War
" Loans, all Issues
.French Tlemibllc .... 1931
Imnertal Japan flort.
4V4. 1st and 2d Series,
tlnlteil Klnr.. Orest nrltaln
Ireland Bs. .1010 ft 1031
fiiAzn-RfrCh
Investment Banker$
Broad & Sansom Sts., Phila.
Sll K. Redwood St.. lUilo.
Suggestions
to Improve
,Your Income
The existing prices of
practically all bonds,
notes and preferred
stocks offer opportu
nities to investors to
obtain returns which
seem to be out of pro
portion to the safety of
the principal involved.
We shalltake pleasure
in submitting data re
garding some of the
more attractive of
these securities.
Write for T.kt E-13
Chandler 4 Company
ATI
' Franklin Bank Building
Philadelphia
New York Boston
Island Oil
Late New.
Property
Possibilities
i
Stnd for analytical rePort. which
is voura for the asking no obligation
Jfjll in und mail coupon.
Scmnn&Dma
Memoirs Tons. Wnck V.t. of N. Y.
628 Widener Bldg- Phlla Pa.
Fh.1 Bell. Wal. 4080: Hace 4080
New York Office 30 Broad St.
PRIVATE WIUE3
Name
8treet No,.
city
'North South llast ond
All Should lmest Bay V.
West
H. S."
The Phenomenal
- Oil Fields of
North Central Texas
. TEXAS PACiriC COAL AND
Oil. made a new hlah record of
107B a share on Tuesday. December
10th. 'This advance la likely to be
. reflected in advances In the nthsr
better-known companies In these new
-ids.
Atlantic Beflnloc
titles Herrlce
Cwden Co.
5 Herat Oil
aleaa Hurnal Oil
fluif oil
Haatton Oil
Humble Oil
Lone Star O. anti
union of California
We are In a position to furnish In
formation about Texas, fiend your
Inquiries or orders.
Magnolia Trtrol.
Ohio Cities Oas
Oklahoma I. & It .
Prairie till Uas
Pierre Oil
Royal Dutch
Mnelnlr Oil
Hon Co.
Tm Oil
m
nuAMm
Investment Securities
43 Exchange Placo, New York
&7"V ?T
TAXATION TALK BECOMES CHIEF
FACTOR IN NEW YORK MARKET
Direct Influence Shown by Heavy Sales of Liberty
Bonds, Many Desiring to Take Losses and Deduct
IJicm lrom Income Liabilities
New- YorJe Stoclcs
Advce Rumely.
do nrcf
Alax Rubber.
Alas
High Points in Today's Financial News
The feature of Xcio York stock trading u-n the licavp selling o'
Liberty Loan bonds, many desiring to take losses in time to deduct them
from liabilities when fllluu Income tax tcports. Curb market cns irregu
lar. Kith olti attracting most attention. Commlsqlon-housc buying rallied
corn. Cotton sliowed strength. Moderate business continued In foreign
exchange maihct. An extia dividend of 2 per cent u-tn declared by direc
tors of Youngs-town Sheet and Title Company. Half a million in gold
teas tiithdrawn from AVip York Kublrcnsury Jor shipment to South
America.
Iow
254
fio
07
I
1
31 i
St
101
G3
40
!)6M.
8&H
40 ft
14
on
6fi
41
88
(U's
I
80'4
10734
16 'A
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CG
04ii
New Yorlt, Dec. 19.
Taxes entered Into Rcncrul discussion iind was tlio chief subject of
consideration In Wall bticet circles, becoming the determining factor In
the stock market durlns the day. Its direct Influence was shown In the
trading In the T.Iheity I.nan bonds, which were In supply on a large scale,
with the brokers handling the largest orders &tatlng that the supply was
In uecordance with u desire on the part of strong Interests, Individual and
Institutional, to record their losses and deduct them from Income tax
liabilities.
On this telling the fourth -His in t lie 'afternoon sold down to the new
low iccord of 34.76. At the same time that these sales were being made
the tellers were to nn extent buyers of lito third 4'4s, still keeping mi
Investment in the Government Issues at or near the sunc amount, but
with the losses on the last Liberty Loan accepted as ii matter of record.
Next to this decline in the Libel ty Issues the most importance as a
disturbing matket influence wus to be attached to the weakness in tho
traction securities, with lirookbn Kapid Transit selling down to 1:8, a
new low iccord of rt his movement, and Intcrborough-Metropolltnn 4Vs
dropping to the low record of lti8.
These movements, although of the highest Importance, were Ignored
I for ii time during the day by tho speculative element, and in the first
half of the session some of the speculative Issues made advances, but
the buying on this earl upturn could only be attributed to covering by
a speculative element which had overcrowded the shoit situation, because
of the general assumption that bearish conditions prevailed.
The railroad stocks were strong in the forenoon, but gains which weie
then made were turned Into losses later in tho da.
EVIDENCE OF GREATER I TONE !E IRREGULAR "
INTEREST IN COTTON IN OUTSIDE MARKET
lllnh
61U
CD
ska Girt M.. 4
Alaska Juneau, l'j
Allls-Chnlm Co. 31 -
do pref 84
Am Act rhmi.lnz
Am Meet Sugar G3H
I Am Can 48U
do pref 96
ni Car & V Co 87 U
Am Cotton OIL 40Ra
Vm Hide & Lea 14
do pref 70
Am Int Corp. . . 661
Am Linseed ... 448
do pref 88
Am 1icc.motho 62
Am Malt 4
Am .Smelting . . &2',i
Amer Smelt pf..l07
Asso'd Dry tlds 17
Asstts Kealiza'n H4
Associated Oil.. GOU
Amer Sum Tob. !)8
Amor Ktl Fdv.. 8G
Amer Tcl&Tcl.lOU, 100i
amer roDacco..i5 i'i6
Amer Wool 53 S
Amer Wrl Pa pf 29
Amor Zlne&L... 12
Am Zinc & L pf 46
Anaconda .... 65 Vs
Atchison II31"!
do pref 8!)
Atl.in fj & w I. llo
Baldwin Loo Co 7G4
Bait & Ohio ..51
do pref 57
Beth Steel B.. C2',
do 8 ) p. pf. 104 '4
Brook Hap Tr 31",
Booth rish Co 23
Butte. C & 7. Co 7'
Butto & Sup C 20 H
Calumet & Ariz 64
fa I Pet pref.. 68',.
1 1 a i I'acK i'o,, IS
Can l'ac 16IH4
Central Lthr .. 61 H
cerro do Pasco 33
cues cc tililo. .
Close
:'54
Net
chae.
V.
60
C7
4
1
31
84
101
63
461,4
S-6
S5
40 i
14
G9
5fl
41 H
88
Gl'b
4
80 Vj
1
57
T.2S
28i
12 'i
16
44,
0 V
87 Ti
inoj
74
53
57
61
lOIVi
28
23
6
68,
!7-r4
157
6012
33
56
'
's
Vs
Zitt
1 14
lVi
107 4
16V4 IM
1U U
06
044 3
85 1 Vi
100 ', k
105 i,
5314 -I- V4
23 U
12Vj 's
46 j
04 i '4
Chi tit W pf . 25 V 25
II2H
87
10014
71
53
57
61
10414
20
23
20 V.
64
08
48
157
00
33
56
1 a
4
2Vi
W
M
V,
1V4
1
Market Relatively Broad as lo Some Oils React From Recent
General Business Senti
ment Is Bullish
COTTON lli;i.T VtKATllKK ( OM)IT10N,
New Vork, Dec. 10 The follonlric rnl.
neratures were retorded In the (ollon liell
this montlnc:
.n-Nar,.,.'.l,"''.:"'. Au""'. 38: Wllinh.clo.i.
40 Little Koek, .Mikoii, KnoMillr and
Thomimlllf, 4i; Okluhom.i tits, l'ort
inllh, Memphis, .MonlROnim, AiiEustd.
.LharleKlon and .Sntnnnnh, 40: kknlnirc
und Slireieport. IH; Penanrola, fill) Jiick
Minillle, 54i Taniau, .Sun Antnnlo mid
(lUltCKlon, r.8, und foriim rlirNII, I4.
There Mere ,0i Inch of lireiipltiitlon nt
Ol.lalioma city. .10 nt Tli.miuiUIIe. .-'i
at torpiis Chrlatl. .11 nt (inltenlnn and
i. ni pin Antonio.
New York, Dec 10
As an evidence of widening specula
tive intcrefat, the opening of the local
cotton market has dally been showing
Increased activity, and this morning's
Initial call was relatively broad as to
general business, with llrst prices 22
to 33 points higher.
This was due chiefly to good trade
buying and room covering !r. line with
notably Increased exports and the
strength of southern spot markets, all
of which has stimulated bull sentiment
both In local and outside sources. Wall
street traded both ways.
The news that all restrictions against
short selling had been removed on the
Liverpool Kxehange, had littlo effect
here, but reports that the Lancashire
strike was settled had a distinctly
favorable influence on sentiment.
Profit-taking on tho early advance
was sufficient to cause some irregular
ity. Offerings were well absoihed on
slight reactions, however, with trade In
terests good buyers and the tone of the
market steady.
Private ad-vlcos from Savannah said
there was a good spot demand there,
buyers bidding 250 points on January,
with offerings meager.
It Is reported that two boats are load
ing cotton at New York for Hongkong,
which will sail before the end of the
month.
The receipts at the ports for the
day are estimated at 26,000 bales,
against 17,942 bales a week ago, 17,722
bales a year ago and 18,333 bales two
yeura ago.
cm m x- si i 1:114
I d.i prof ... 7d'4
,('hl & Northw. 00
Chi 11 I & 1' tp 26,
1I11 p c pf . . G7
Cltl&Pac 7 pi! p 80
Cliliu Copper . 10
Chlno Con Cop 31
Col Fuel & Iron 30',
Col (las & lileo 38 '
Consul tlas .. . 00
font Can . . . GO.
do pref . . . .I0G',4
Cora Pioductrt 48
do pref .fr.l02s
Crucible Steel. . 58
Cuba Cane Sug 30
do pref . ... 80
' Deere Co pref . . 05'
1 Del ci Hudson. .100 ',4
Den & Rio t! . . 5 '4
do pref 0
I Honi M nes ... 12 'St
I Dlstillcm Sec. 51 is
1 L'le 17
I do gen leln. . 581,4
I do 1st pref.. 30'.!
I'lslier Body... 37
(inston-WuiH, ., 3D
lien Cigar Co.. 46 Vj
cien lee Co. ..140
(ien Motors... 1281,4
do pref. 82 Vi
lioodrich n V.. 66 s
I'.r.imlhv Mill . 7!1
Ptice movements and the market tone (jrt N'or nref . 07
on the Broad street curb were Irregular, (Jrt Nor O sub 33
Oulf Sts Steel
High Levels War Stocks
Arc Dull
-New lork, Dec. 10
50 '.
Glf Mob Nor 8r's
do pref 33
Hatkell & Bark 45 ',4
111 Cent 08',4
Int Agrl pref. . GO"
Insplra Copper. 46
Inter-Cons Cor. 6U
25 Vi
26'i
with the oil stocks generally showing a
steady tone, although some of these Is
sues reacted from recent high levels.
1 The flurry In Island Oil was of short
duration, and although emissaries of
manipulators continued lo flood the
slrppt with pvlril v.'lp-nnl rnrwirla tr tilth-
I He interest was created In the trading in , int ier jlVr' '
I that stock. j d;l)rer '. .",
I mils morning the sales were small In I Int Paper .
volume, at prices ranging from litt lo I Int Nickel ...
5, with no one giving serious consider- do l'rof
ation lo the renorted 100.000 barrel wpII , !"' Rp Tr pf .
reported to have been struck on the
company's property.
Cosdcn sold at 7 and Oklahoma at
101, to 0 Itoyal Dutch was fairly
active, with trading at 6714 to G8.
General Asphalt continued to reflect
Inside accumulation,
forenoon from 39 to 40. United Mo
tors was fairly active, with sales at 34 i
to 3414.
War stocks were dull, Aetna Lxpio
shes selling nt 6 and Wright-Martin
at 4s and 4 Vs.
INDL'STKIALS
.Jll!
3:
33
Ofi
78 a
42
76 V4
00
25
63 '
70
18
34
38
3S'4
0814
60 '4
10614
47
Uli-ls
57
3" '4
70 Is
95 'i
108 'i
5 '-.
I
12 V-
30
17 '4
r.s',4
29
37
30
46
110
127;
82
56',
70
9G "
33 9,
58
8
33
45 14
97
50h,
4514
6'i
24 Is
261,5
llOWj
31
33
96
litt
1
V4
76 '4 1
00 1
2514 14
05 Is 2
70
1S 4
34 14
38 Is
38 H ..
08 m
u:m
10614
47
102''S
57 .
30 14
7
0514
108 i-a
614
0 V4
12V4
50141
17U ..
r.8 14
30 "
l
1
14
1
1V4
A
214
.i
1.
1 "
37
SO
46
140
127
82
5614
70
0014 14
33 V4 ..
G9V4 -1
8
33 i4
4514 14
97 "4
50
1
"4
1
1
nid
04
Dec. .
Jan. .
March
May .
July .
Oct. .
1.30
p m
2.30
p m
Yes. Today's 10.30 11.30
clono open am am
. , 1 Ml ....
.. 27.30 27.50 27.r,0 27.H2 2T.K8 27.1(0
. . 20 12 20 4.1 211 44 211 3S 20..',0 I'll 41)
.. 2.128 2.1 50 M.Rfl 2,4() 24. 4K 24 411
.. 24 .1.i 24.70 24.70 24 70 24.70 24.70
. 22.35 22.83 22.o5 22.83 22. S3 22.83
$100-5500-51000
Fvaanlianal SaMivtlii
-n.v,.... WUVUIIIJ
WE OWN AND OFFER SEVERAL
CUFtlTIES Of THE HIQHEST
ALITY IN UtNUMINATION8 OF
,1400.11000. I Mt YltUO IQOOOD.
URITY UNQUESTIONED. INFOnl
TION BY MAIL OR OUR REPRE.
TATIVfc WILL CALU
uvn kvttur o v....
Wincii, niLina m tVMnu
-'J LRND TITLE BUILDINC
acton PHILADELPHIA Chicago
ANNUAL MEETINGS
The
BOUTIIUABU NATIO.NAL UANK
Philadelphia. Pa
annual tlecttun for Directors of this
tiin lx held at the Oanklna House on
ay, January It. 1819, between the
Cotton Buyers and Sellers
New York, Dec. 19. December Rus
sell bid.
January Sellar. Waters, It. Hubbard,
Hagedorn and Stelnbacher bid ; Hopkins,
Munds, Wade, Bartlett, Geer, Figgatt
and Gwathmy offered.
March Abraham, Keiffer, Geer,
Schley, Cone. Slgel and Deacon bid ; Hy
man, Einstein. It. Hubbard, Newman,
Waters, Rountree, Frederickson, Glfford,
Brooks, Bartlett, Rosenberg and Royce
offered.
May Schlll. Mitchell and Gwathmy
bid; Keiffer, Hartcorn, Young. Rlordan,
it. iiunuaru, uone, nouniree. l'linn ana
Wilson offered. (
July Royce, Ranger, Fllnn, R. Hub
bard and Waters bid ; Downs, Cassard,
Johnston, R. Hubbard and Newman
offered.
September Brooks offered.
October Einstein and Smith bid;
Waters and Cone offered.
mSSTo 10 o-
cioca
,y
a. tn. ana iz o'clock: in.
W. J. oTEINMAN.
Cashier.
RATIONAL HKCUIUTY 11ANK.
, -uiiauituja. 4ev ii, IVIO.
t annual, meetlns of the Stockholders
Le.hsld at lb Hanklna Ilouwt on Tuse-
aaary It, 1DIV. bsawsen the hours of
m ana X u. m.. for the election nf
are' and tho transaction of such other
as may come oerore me meeiina;.
WW, U. McKKB.
Cashier.
Htraeta
'WtB-rMILAPKLrHIA
'1 iitwrts, nnna
ntllaqsipow, imajwii. jhio.
Spteialist In Prompt
Repair Service,
3
21't
.145
. 78
Vi
7
90
1
10
86
30
Aetna Kxploslves ..
m-Brit Mfg
Am Marconi
Amer Writing Paper
Air Reduction
Canadian Cax Co.
Can Car & Fdy pref.
Charcoal Iron
Chevrolet Motors .
Cramp
Curtlss Aeroplane . .
Carwen Tool
Carbon Steel
Lmerson Phonograph
Hendee Mfg
Lake Torp Boat
Lehigh Coal Sales . .
Lima Loco
Maxim Munitions
X Y Shipbuilding. .. 30
Nor Amer Pap Pulp 2
Otis Elevator 55
Peerless Motor 18
Poole Kne 25
Scrlpps-Booth 15
standard Motors .... 8
Steel Alloys' 7
Submarine 1214
St Joseph Lead 1 3
Todd Shipbuilding... 98
Triangle Film IVi
United Profit Sharing 14
U S Steamship 5
United Motors ... 31
World Film '.'.
Wright-Martin Air .. 414
STANDARD OIL
Illinois 148
Ohio 312
Prairie Pipe 267
S O Cal 227
S O N .1 572
SONY 287
indkp:
6
Yest. close
Ask (sale) ,
7
G
4
314
65
35
85
8
155
83
1 I
8
100
NDKNT OIL STOCKS
Barnett, Oil & Gas... 14 A ft
Cosden & Co 6 7 1
. Ik Basin D G 5Tj
Federal Oil 2 2'i 2
Inter Petrol 17 18 17
Houston Oil 74 70 74
Merrltt Oil 23V1 24 24
Midwest Refining ....122 124 124
Met Petrol 2 2V4 211
Ohio Fuel 13 17 ..
Oklahoma Ref 9 10
Sapulpa Hef sfi 7
Seqnoysh ' ft
Sinclair 19 20 ,.
MINING HTOCICS
Atlanta 5
uig jcage
Butte New York....
Con Ariz
C K S & Jerome..!...
First National ..,!..
Kan Cy South. 1014 191;
Kelly Sprlngfd 72 70
Kennecott Cop. 34'... 34
Lack Steel ... 68 68 V4
Lehigh Valiej .58 57
l.en nub & T.. 23 01 23V.
Lie & M T Co 205 204 204
"",""' ,lu,,":" Loose-W Bis C 44 44
nging during the lxrlllnrd P ..154 154
Manhat 131.. 9.1 01
Max Motor ... 28 28 i
do 2d pref . 21 21 ,
Me Petrol 107 164
Miami Con Cop 24 23
Mldvale Steel. 45U 44
Mlnn&St L new 1312 13
Mo Kan & Tex 5H 5ij
Mo Pac 25 24
do pref 54 53
Nat Acme 74 74
Nat Con & Cah 17 16 1,4
Nat Kn & Stpd 4GV: 4G
Nat Lead G5 64
NVv Con Con.. 17ij 17V,
X O Tex & Mcx 32 31
In Y Central .. 77 '4 7G
I NYC & StL 2d p44 44
N Y Dock ... 251-4 24
N Y N H & H. 3314 32
N Y O & W... 21 21
, Nth American. 52 32
North Pacific . 05 '
21i .. Ohio Has 12
25 .. ,Ont Silver ... 7si
Owens Bot 40
00 .. Pan-Am Pet .. 06 14
40 .. penn r R 40
. Pco Gas & C. 53
Pere Marq 144
Phila Co 31 Va
Pitts & West.. 36 V4
rierce-Arrow. . 42V4
Pierce Oil ..... 16V4
Pitts Cial 47
Pullman Pal C.118 118
Ry Steel Spring (i',4 is',2
Ray Con Cop. 21
Reading 83
Rep I & S 75
Royal Dutch .106
Savage Arms . l.",4
Saxon Motors . 8
st I, K F .... 14i
Sea Air Lino pr 19
Sl-Sh Stl & I 50
Sinclair Oil... 33
Southern PaclOlTa
153 .. Southern R R 30
310 314 do pref 6914
272 .. stand Mill pr 86
232 .. studebaker ... 62
578 57G Stutz Motors.. 61
291 -. . i!up Steel 35
T C & C w 1.. 14
Texas & Pac. 25 V4
Texas Co 190
do r and s. 16
Third Ave RR 14
Tobao Prod... 81
do pref.... 103
4G
G14
24 I
2GV4
111
31
33
96
7714
1914
7014 14
?! 14
0814 Vi
57 1 H
2314
1V4
4
1
U
ii,
SH
IV?
V4
ltlah Low
112000 Angle-Fr 5s . 96 1J 96
3000 Am T & T 6s. 95 95
14000 do 0s 101 100
2000 Am Wr Pap 5s 88 V4 88 V4
1000 Armour 4s . 87V4 87V4
8000 Atchison 4s .. 85 85
14000 Bkn Rap Tr 7s 03 01
4000 Bordeaux Gs.,100 100
3500Chlln Cs . . . 84 84
7000 C & O cv 4s 82 8114
5000 C & O ponv 6b 88 88
6000 Chi Gt West 4s 62 62
3000 C B &Q reg 4s 95 95
4000CM&SPrfd4s 76 7614
10000 CM&SPgn4V4s 88 88
1000 Chinese 5s ..70 70
26006Col & South 4 87 V4 87 Vj
111000 C of Paris 6s.. 39 98
9000 D & H conv 5s 97 97
1000 Dls Sec Cor 5s 85 85
10000 Erie cv 4s S A 6114 61
2000 Krle cv 4s H B 51 51
4000 Erie cv Is H V 54H 5114
3000 Erie 4s 72 7214
42000 Fr Re'p 614s 101 10414
11000 Hud&Mnn In 6s 18 1714
4000 Iowa Cent 4s 40 46
150(10 Inter Met 44s 4G 4IV4
1000 Kan City Ter
1st 4s 81 81
2000LkShdeb4s '28 0014 00V4
148000 Lib Bond 314s 08.20 98.10
208000 do conv 4s . 93.10 92.90
2000 d(, 1st 4s .. 03.20 93.10
200SOOO do 414s ... 95.84 05.43
137000 do 1st 1V4r . 97.20 97.00
2010000 do 2d 4V4s.. 05.24 04.84
3972000 do 4th 4 V4s.. 95.38 04.70
lOOOLyotiH Gs 101 101
10000 Le Val rets 6s. 103 103
6000 Marseilles Gs..l00 100
2000MlnStPSSle 4s 88 88
16000 Mont Power 5s 9114 01
1000 N Y N H & H
cv 31,s .... 64 14 64 14
26000 N V Rwy 4s.. 461 44
17000 do 6s 14 13V4
10000 Oie Short L 4s 874 87V4
1000 Pac Coastlst6s 87 87
30000 Pelinagnct4 1,4s 92 V4 92
1000 Pero Mam 5s. 8814 S814
3000 Pierce Oil 7s. . 89 80
35000 So Pac cv 1s. . 85 83
32000 do cv 5s 103 102
10000 Stli Rry 4s... 02 02
14000 do 5s 0014 0614
1000 U S Rub 5s. . . 87 87
7000 IT S Stl sf 5s. 100 100
10000 Union Pnc Gs.,105 105
187000 IT K ot O B &
I 5V4s '19.. 9014 00
18000 ilo new '10.100 100
37000 do '21 HSU 0814
2:13
96
05
100
8 8 14
87
85
92
100
84
81 '4
88
62-14
95
70 14
88
70
87 14
90
97
85 ,
61
61
6414
72
104s
1714
40
4414
81
90U
98.12
92.98
03.20
95.42
97.00
94.84
J4.7G
101
103
100
88
91
C414
44
1314
87 14
87
92
88
83
85
103
O1
96
87
100
105
99 !
100
9814
I JVew York Bonds Philaddlphia Stoclss
Illah Iw
SOAIIIsChal 3114 31
54A1IIO. Ins 19 19
300 II & S t o 75 75
G2 C Ex Nat
Bk war.145 143
70 Gen Asph 39 39
95InsCNA 26 26V4
300 Lk Sup C 18 18
5 Lch Nav. 73 72
180 Leh Val. 58 14 67
702PennaRR 46 46
6 Pa.SaIt M 85 85
154Phllr Elco 25 25
C10P RT t c 27 27
160 Reading.. 8314 82
142 Un Tract 39 39
74U a I... 74 74
530 U S Steel 96 95
10W Cramp
t c .... 81 81
IIONDS
Rich Low
Net
Close chae.
31 Vk
19 Ui
75 ..
142. 8
39 Vt
26 Vi H
18 U
72 1
Soil -'I
27 ,.
82 L.
39
74
05 54
81 ..
J2000E1 & Peo
Tr4stc 72
1000 Key Tel
IstGscp 88
2000 Lake Sup
Inc 5s. 61
5000 Lib Bonds
3d 4 lis 05.50
15000 Leh Val
Gs w 1.103
10000 Pu. cons
4 14s... 97
1000 PhCocon
5s stpd. 88
5000 do 1st 6s
stpd .. 99
1000 do 1st 5s 99
8900 Phila Ice
1st 5s.. 97
3000 WNY&Pa
gn 4s.. 72
Closo
72
884
CI
95.50 95.50
102 162
72
88V4
GO
Net
chKC.
IVj
4
'.10
V4
97
88
99
99
95
72
97
8S
99
99
95
72 2
6
PHILA. INACTIVE STOCKS
Following are quotations for inactive
stocks listed in the Philadelphia Stock
exchange and In which there were no
transactions today. The price given
is the last previous close:
Acme Tea Co. 79 Little Schuyl. 48
Amer Gas ... 74 l,lt Bros .... 25
-1
38
2
GO
19
48
30
9
8
12
1 4 VS
105
5
34
214
8
12
6
34
414 4
a
1
Goldfleld Mercer
(ioldfleld Cons 25
Goldfleld Florence .. 10
Goldfleld Kewahaa .. 6
Green Monster
Hecla Mining 6V4
Howe Sound 4
Independence Lead . . "2
Jerome Verde A
Jim Butler 33
Jumbo Extension ... 13
McKinley Darragh ..45
Magma Copper 27
Mother Lode 33
Mines Co of America
Nevada Wonder ....
Niplsslng 8
Ohio Copper
Ray Hercules 3
San Toy 8
Stewart
Tonopah Extension ,. 1
United Verde 36
West nd Con 1ft
White Caps 9
Yerington 4
BONUS
Bethlehem 7& (notes). 100 100
Cosden Oil 6s ..'82 85
Cosden & Co Co 82 85
Cudahy 5s 102 102 ,i
,RUBalan Oovt 6B.,, 64 65
do s E7 Gil
Southern Railway tr, 99 99
G
1
1
2tt
8
29
20
7
.
t
3
',4
3G
15
48
29
35
9
3tt
9
"2
37
IVi
10
G
5
'i?i
5V4
33
15
28
34
9
3Vt
7
17
1T4
1 7'.32
10
9414
4214
7
48
65
45
50
14
3114
34
4214
16
47
20
81
74
103
62
8
14
18
60
33V4
98
2814
69
86
51
50
35
14
24
190
15
14
79
101
41
154
01
281-
21
166
23
44
13
514
25
53
74
16
40
64
17V4
31
7U
44
25
32
21
52
93
42
7
48
00
45H
50
14
3114
34
42
16
47
11844
73 V4
21
81
75
103V4
G214
8
14
18
50
33V4
98 3
28 1
C9V4 ..
80
61 '4
507,4
35 f-
14 L
24 1
1HU
15
14
79
102
127V4
72
104
50
163
103
77 1
-t"
3
1
Vi
DIVIDENDS DECLARED
Oranby (."onsulldatrd Ml nine SinrlUiiK
and 1'owpp Cornpiiny, quarterly of 2',, per
pnt. tiHlIu February I to tdork of record
January 17
pennmn'r' Company, J,td . Montreal, tiuar
lerly ot l'j ler cent on common, payable
February l."i to ntock of rr ortl February 3,
and prrfci r?U of IH ior tent, payable
February 1 to stock of iccord January SI,
Wushlnston. Itulllmore and AnnapolH
IJIeUrlc Ua 1 1 road, u dividend of 1xh per cent
nn common, pujablo In liberty Bonds, In
lieu of the S per cent coph qurfrlerly. and
quarterly of tVi per cent preferred, pauble
January 1 to Block of record Dei emlver S4.
Public IServlco Corporntlun of New Jersey,
quarterly of t pf tent, pajabl" December
31 to Fti.flc of record December S7.
Cities Servlco Company, monthly of ,i of
t per cent on to mm on und preferred, and
the iiHual extra dlsbursetnetit of 1 per cent
on common, payablo In ntock. All payable
February I tn ntock of record January Ifi
Manning. Maxwell v Moore, quarterly of
per crtit, payable January S. Uooks do
not u ostie
General Haklnff Company, quarterly of 1
per cent on preferred, payablo January 1 lo
stock of record December 14.
Kolb Bakery Company, quarterly of lsi
per cent on preferred, payablo January 1 to
stock of record December 1 J.
Hupp Motor Car Corporation, quarterly
of li per cent on 7 per cent cumulative
preferred, payable January S to stock of rec
ord December 20.
Oklahoma Natural Gas. quarterly of V
of 1 per cent.
Haltlmoro und Ohio Railroad Company, a
dividend of S per cent on common to hold
ers of record at closo of business December
SS. Pajment wll be made on February 1,
provided necessary furrda are received from
the Government on account of compensation
on or before that date. Transfer books will
not cose.
Hplcer Manufacturing Company, regular
quarteily of 2 per cent on first preferred,
tunable January - to stock of record Decem
ber SO.
Wftlsbath Company, serritannual of S14
nr tent on preferred nauible December
31 to stock of record December 21.
ItHHdtT Cnnvt ny nr c-nt on pecond
preferred, payable January .0 to stock of
record. December SO. and s per tent on com
mon, pajnHe February 13 to stock of record
January 23
Atlantic Coast Line Railroad, semiannual
aV& per cent on common, payable January 10
to ptock of record December 24.
Distillers' taecurltles Corporation, quarter
ly of k of 1 per cent and an extra of J.
rer cent, pas able January 18 to stock of
record January 2.
Bant Coat Fisheries Company, quarterly
of W per cent on preferred, payable Janu
ary 1 to stock of record December 23
Kenslncton Trust Company, usual divi
dends of 3 per cent semiannual and 1 per
cent extra, payable December 31.
Loulsvllln and iasnv,i..e uiuiroin com
pany semiannual of 34 per cent, pavablo
February 10 to stock of record January 20.
Central Atrulrre riup;ar Corporation, quar
terly -of 2.a0. pasablft January 1 to stock
of record December 21.
Bank of France Statement
PiirU, Dec 19. Tliu weekly statement
of the Bank of Franco shows the fol
lowing rnanjrefl: noui in nana in
creased 28.1.000 franca: bllvcr In hand
decreased 872.000; notes In circulation
Increased 242.837.000; treasury deposits
decreased 18C.47C.O00; general deposits
Increased C3.584.000; bills discounted In
creased 38,128,000; advances increased
7.G75.000.
Tube Company Pays Extra on Common
Pittsburgh. Dec. ID. Tho Youngatown
Sheet and Tube Company has declared
usual extra dividend of 3 per cent on
tho common, in addition to the regular
quarterly dividend of 2 per cent on the
common and 174 per cent on the pre
ferred stock.
First National Bank Pays Extra
The Flwt National Bank has declared
a regular quarterly dividend of 2,,4 per
cent and an extra dividend of 2 per cent,
pajable January 1 to stockholders of
record December 30. ,
Am Ryr, pref. 69
Am stores pr uo
A G War 7',4
Am Milling.. 10
Am Sirs pf.. 90
Brill J G 70
Cambria Iron. 40
Camb Steel.. 123
Cataw lt,t pf. 2
Cataw 2d pf. 64
Cons T of N J 90
Klect .Slorugo 14
Kth S N B.. 180
UenAsphpf ..78
Hunt Ac B T. 10
Hunt & BTpf 16
J O Brill pf.. 701
Id II Trans pf 25
Mlnehlll 5
North Cent... 75;
North Penna. 94
P N Bk pf. ..275
Phil Co cm pf 32j
Phil Co sni Pf 32
Phil R war wi
Phil Kl war vl
Phila Trac . . 70
Phila & West C
Bwys General 2
Ton Belmont. 2
Ton Mining . 2
Un Cos N J.lOi.
War I & S... 8U
West Coal ... 75V
West J & S S 45
York ltwys... 7
USUAL LEADERS ARE NEGLECTED
IN PHILADELPHIA STOCK TRADER
Buffalo and Susquehanna Trust Certificates Continue!
Fairly Active and Hold Steady Corn Exchange
National Bank Warrants Decline
Stock trading was limited on tho Philadelphia exchange today and very! 5
few Issues developed activity of interest. Declines wero generally tho ordei1 A
after a mixed opening. J
Usual local leadcm were neglected and Buffalo and Susquehanna.trust
certificates, which yestordny showed surprising strength, due to announce.
ment of an extra dividend declaration, wero moro largely dealt In most ot tho i
day than other liomo shares, holding steady at 75, last night's closing level.
Pennsylvania Railroad shaded slightly on moderate trading, and Readlngy
Company and Lohlgh Valley yielded fractionally, but appeared In pmall, odd
lots.
Early in tho day General Asphalt common, tho leader from point ot "
activity the two previous sessions, was unchanged, with only a small turn
over, and following midday it sold off to 39 and remained dull. Corn Eft ,
change National Banlc warrants, following their sensational spurt yesterday, "-
wero slow and lost 8 points to 142.
Lako Superior Corporation yielded a trlfio, Lehigh Navigation lost V
point und Union Traction dropped back Cramps, Philadelphia Electrlo.
and United Gas Improvement did little, but held steady and unchanged.
There was only a nominal turnover of United State's "Steel common, and
It declined after being higher before midday.
. Bonds were irregular and the weakness of Keystone- Telophono first 6s
and the strength of Philadelphia Company first 6s, which mov.cd up moro than,
6 per cent, and Western New York and Pennsylvania general 4s attracted
most attention. Philadelphia Electric first 6s lost a 2 per cent galnnear
the close.
Tho third Installment of,. 20 per cent on the fourtli Liberty Loan waa
paid today. On the subscriptions of $598,763,660 in tho Philadelphia Federal,
neservo District there was paid previously $487,473,850, leaving only $111,
289,800 outstanding.
Tho payments In this district, not including today, were in excess of 80
per cent of tho subscriptions, although only 30 por cent was due. Payments
wero made as follows: By cash, $99,801,074; by certificate, of Indebtedness.
$110,856,000, and by book credit, $270,816,776.
LIVESTOCK QUOTATIONS
Chicago. Dec. IB. 1100S nrcclpta. 43.
000 head. Steady. Packing; grades, common
and light, nculeitcd. llulk, 17.3117.BU:
heavy butchers. 17 .15W17.5: medium and
lleht butchers. tl7.4.'. 17.00- llarht. HH.fi.-ifc
17.40, heavy packing-. JHI.llllW17.35: medium
and light packing. J17.151".4U: throw
outs. in SOIS 10.50. pigs, good to choice,
113.7.-0il.-i
OAT'1-LK Ilecelpls. 10.000 head. Cholco
steers and canners steady: other classes
slow to lower. Calves, slow opening, l!5c
lower, lleef. good, choice und prime. J130V
HI. CO; common und medium. Jit. 5'lri;
butiher stock, heifers, (7.'J514.25; cows.
37 t.'i&'lH.L.'n: stackers and feeders, good,
tholce and fancy. S10.'51H..1U: Inferior,
common and medium. $7.".110 2.": veal
calves, good and choice, $14.7.itf? 15.20.
HH1JE1 Jleceipts. 14,000 head. Firm,
SI4,N." paid fur prime lambs on shipping
account.
IMttsburgh. Dec. 10. HOGS Receipts.
OOOO head. Steady. Heavies and heavy
MirkerV S17.B.1: light yorkcrs, S15.75&1U,
pigs .llt .IOtfln.75.
SHEEP AND LAMBS Receipts. 2000
head Steady. Top sheep, $10; top lambs,
$n 7t
CAl'.VE Receipts. 100 head. " Steady.
top. sio.no.
10. RATTLE
steady: light
l!nt IllllTlllo. N. V
Receipts. 3,"0 hend.
nnri cntniMnn. easier.
CALVES nccclpts. 150 head. Steady, ft.
(Sin. so.
1IOQS Receipts. 5500 head. Slow, 10c
lower. Heavy mixed and yorkers, $17.70:
few. 117.80: light yorkcrs nun pies, 17
rniichn. 1" (ii lll.HOl stags. J1013.
SHEEP AND LAMUS Receipts. 3000
head. Slow. Lambs lower: others steady.
Lambs, J9W15.85; a few, 510. '.'3; others un
changed. KnnMis rlty. Dec. 10. HOGS Receipts
today Ill.noo hend.
CATTLE Retelpts today 4000 heart.
SHEEP Receipts today 2000 head.
South Umnlm. Dec. 10. HOGS Receipts.
18.000 head. Dull ami unchanged.
CATTLE Receipts. B0O head. Steady.
SHEEP Receipts. SOO head. Steady.
No Change in Refined Sugars
Xew York, Dec. 19. Refined sugars
are unchanged at 9c less 2 per cent
for cash. The Federal, the Warner, and
the Xatlonal companies are still with
drawn. Raws are unchanged at 6.055c.
CHICAGO BUTTER AND EGCS
Chicago. Dec. 10. BUTTER Receipts
3301 tuhs. PricM unchnnged,
HOGS Receipts. 3343 cases. Extra. CVa
ili4c: firsts. .TtSiinlc.
MONEY-LENDING RATES
NKiv YOKK Monev on call, mixed
collateral, opened today at 4 per cent
ror lending anu renewing, un an inuus
trial collateral the opening rate was 6
pec cent.
Whilo tlio money market today showed
increasing case imd rates for fixed date
funds wero lower, brokers under tho ex
isting loan regulations wero in many
ffi.pR unnhln tn takn advantngro of the
change. Tills accounted for reports by
money brokers or an aosence or mas,
Tho liquidation of mercantile accounts
In responslbln for the lower rates for
nrlinn mercantile paper, offerings of
which have diminished.
Prime bank acceptances quoted at -Hi
nml 4 G-1C nir cent for member bills.
4Vi and 4 7-1G per cenffor nonmembcrs
ami G and 5 per cent on Ineligibles.
Call loans on prime bank acceptances
aro unchanged at 4Vi Per cent.
I'lIH-ADKLVIIIA Call'. 0 per cent;
lime. 5-G per cent. Commercial pa
per, three to six months, 6 3 6 per cent ;
six months, 6 per cent.
BANK CLEARINGS
Rank clearings today compared with cor
responding day last two years:
1018 int7 into
Phila ...fTO.'Jtn.OD.I 02,K07.30a .-i3.074.37
I. York.. 618,041,50(1 335,8(12.310 034.410,8.M
llalto ... 13, 124.201 7.088,402 7.741,10(1
St. Louis 25,032,070 2S.257.470 10 002.048
FOREICN EXCHANGE
New York, Dec 19. This market con
tinues to reflect almost entirely Lon
don's operations. That center worked
up exchnnBo rates on Wednesday, und
today the contrary movement took
place. Tho Immediate indications, ac
cording to some authorities, are for a
still lower range of neutrals, but the
market continues erratic.
Sterling and francs wero Arm and
lire checks regained tho loss of a point
made on Wednesday. On tho other
hand, Swiss lost 2 centimes of its ad
vance. Business was very moderate.
Quotations were:
Demand sterling, 4.75 13-16: cables.
4.7G 9-16 ; sixty-day bills, nominally,
4.73i,. nn ninety-day bills. 4.71.
Franc cables B.44Ti, checks 5.45.
Lire cables 6.35, checks 6.36.
Swlfs cables 4.84, checks, 4.87.
Guilder cables 42',, checks 42,.
Pesetas cables 20.08, checks 20.00.
Stockholm cables 29.60,-checks 29.40.
Chrlstlanla cables 28.20, checks 28.00.
Copenhagen cables 27.20, checks 27.00.
Rublo currency was quoted' nominally at
17U 17.
Another Rail Contract Signed
Washington? Dec. .-'-Director. Gen
eral McAdoo has signed a compensation
contract with the Buffalo, Rochester and
Pittsburgh Railroad at $3,276,410.
Savings and Safety
XTAVE you accumulated money
have you neglected to open a
bank account have you considered
that something might happen to
your money if not placed in banlc?
The time to save and protect your
savings is today.
This Company seeks your Checking
or Savings account, large or small.
Come in and talk it over.
THE COLONIAL TRUST CO.
13TH AND MARKET STREETS
Member Federal Reserve System
Open Every Evening for Deposits and New Accounts.
r fffigB
Union Pac ...129 127'..
do prer ii Yi 72 'A
Uni Cigar Strs.lOBV. 104
Unl Drug 1st pf 50 50
United Fruit ..J53 152
U y Ind Aleho.104 102
II S Rub .... 78 77
do lt prei.iiuawi iua lU'JVij
U S Steel .... 36',, 95 96
do pref 112 112 112
Utah Copper .74 74 74
Va Car Chem . 54 54 54
Wabash ',s 9
do pr A 36 35
West Maryland 12 12
West Union Tel 88 88
Westl'e Mfg ..43 43
White Motors 45 45
Willys Overl'd 25 .25
Willys Overdpr 88 88
2
if,
1
n
'
.
Wilson Co .... 76 75
Worth Pu & M 54 64
W P M IT M u 68
9
35
12
88
43
45
25
88
75
64
68
'A
Liverpool Cotton
New Y'ork. Dec. 19. Snot cotton was
quiet today with prices flrm on the basis
of an advance ot 35 points for middling,
old contract, at 21.67d, The sales were
1000 bales. Including 700 bales American.
The receipts were 6000 bales, of wh'ch
4800 bales were American. Futures
were very steady at the opening today.
Spot prlcee were: American, m'ddllng
fair, 22.88d; good middling, 22.02d; m'd
dllng, 21.57d; low middling, 20.: g-H
ordinary, 19d, and ordinary, 18.473.
Wanted
Home for Boy
Business man requires immedl
ately home for boy of six years.
This must be a home of Irreproach
able character, where careful atten
tion can be given.
It Is desirable that this home be
located in West Philadelphia, and If
possible, near Falrmount Park.
Child Is In perfect health.
Liberal compensation. Reference
required.
Address A 27, Ledger
Office
Fidelity Trust Company
II ember 'Federal Reserve Suatem
Capital .-. $5,000,000
Surplus $16,000,000
Downtown Office) Broad Street Office:
atn-XM Chestnut St. N. K. Car. of
4.)H B. Fourth St. Ilrond t'hxtnnt
I.r.OAI. AnVKKVIHKlKNTH
OF IIARUIH K. TI.NDEL.
tha above estate bavins been granted
lSJTATK
--- c
deceased letters testamentary
lava estate bavins' been granted It
undersigned, all persons Indebted
to
the
the
GOVERNMENT BONDS
2s. registered. 1030 08
2s, coupon. lt3n.,,., or
Sa. registered. 1U1S flfii
3s, coupon. 1018 ,.,. 00
4s registered. 1023..,,.;,..,.,. ..
Is, coupon. 102.1. ...,,,,.,.,.. ..
As, registered. 104(1,-. ,...,, S3
Ss. coupon. 1040..-, H3
Panama. 2s. registered, 1H9C1,, . ...OH
Rid Ask
loan
ioo
said estate aro requested to make payment
and those navina claims 10 present ine ai
without delay to CLARE V. TlflDBU
Or to her attorney,
FREDERICK II. WARNER,
BUI Land Title TliilMlng.
niVIIlENT)
ISSr" UNITED l-Htl'.JIIi.N'.-'
't-' fo.. 410 Walnut tt
111:
inuaci:
Second Issue
"Instrumentalities of the'Unitetl StatO'Governmefit''
'Exempt from Federal, State, Municipal and Local Taxation
$500,000
5 Farm Loan Bonds
Issued by The Liberty Joint Stock Land Bank,
Salina, Kansas, chartered by the Federal Gov
ernment under the Federal Farm Loan Act .
'rl
Dated Nov. I, 191 8
Optional on and after Nov. 1, 1923
Denominations 1,000, $500, 100
Total issued 1,000,000
NDuc Nov. 1, 1938
Phllai-elDhla. I),-. IR 1018
Tha Directors have declared a samta'hnual
dividend of 4 per rent and an-ratrn dividend
The Federal Farm Loan Act-provides that Joint Stock Land Banks may issue Farm
Loan Bonds secured by deposit with a Federal- Registrar, of Government,' Bonds
and or first mortgages on farm land not exceeding 50 per cent, of the value of the
land for agricultural purposes and 20 per cent, qf the value of the permanent im
provements thereon, as determined by Government appraisers.
This collateral must receive the approval of the Federal Farm Loan Board, and tile
bonds themselves are then prepared, engraved and approved by the Government.
These bonds are 3 lawful investment for all trust funds under jurisdiction of the
Federal Government, and may be accepted as security for all Government deposits,
Including Postal Savings Deposits.
The Act further provides that these bonds "shall be deemed and held to be instru
mentalities of the Government of the United States, and as such' they and the'incomc
derived therefrom shall be exempt from federal, state, municipal and local taxation."
411 lees! nsflrri fa coimecflen wits fall litss have teen rctltd use ev Ueerrt. '
Wtoi t Oakley, OMeeio, uaoie opinion will be lumitlttd m ri4nut.
Price 1014 and interest
To yield 4.65 to optional period, and 5 thereafter
Descriptive circular on request
Bonbright& Company '
MORRIS WISTAR STROtJI, JR., Manager ' '
" 437 Chestnut St., Philadelphia
New York Boston -. Chicago ' Detroit
la tat rarcl-tit eftke tect-rities described we live acted nn the tattaeats foralsked as, 'waiea are
'from aourrti e rrgtrd as relltble.
Taned by til Capital Issues Committee as not Iscomiiatlbl with tb aatlestl Interest, but without srnroral
f leftlltr, validity, erU or security. Opinions Nos. A-272S. A-2723, A-2878, A-2389 ial A-SOSSl
m
r-.r
vi
isr aisriwoacf OfH;
SfT''-,J.
Pan-Ma SU, registered. -;,,
of z per rem. payable on llteembtr
WJUI.
gMj
l-tirJ
mm tii fiiiiinii Han mubiis-
"- T"-VTTiaV ."kjr '.'.-U-k-.LI'S F MBBSSa---.'-A
xstui 'caaBBaBx,-'
t
2
r
'
a ' ' t i ' ' .. v. ii ' i vy '
(i
TAiisnnrs
air.ciair'uu t,frr. ,,,, as , 50
tparf;n"t:',v,PrVf:i'i'
10 rtocKop-aers ok recorq at
A
t
N A
OW.xf .AtJaWl f
lull t-a aarsa-B-zlK..-
cuiuiim
I ft IV'.