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EVENING- PTJBUO LEDaER-PHILADELPIEIA, FRIDAY, DECEMBER 27, 1918
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Our New Book FREE
Hits all latest up-to-lhe mlnuts
. Hata, ttatiitict and now on
INDEPENDENT OILS
.TEXAS OIL
MEXICAN PETROLEUM
ROYAL DUTCH SHELL
OHIO CITIES GAS
PIERCE OIL
MIDWEST REFINING
OKLAHOMA PRO. & REF.
t-HOLKTON OIL
INTERNATIONAL PET.
OKMULGEE PRO. & REF.
GLEN ROCK OIL
MFRRITT OIL AND
MORE THAN 200 OTHERS
6F VITAL INTEREST TO
THOSE OWNING OIL
SECURITIES.
Send for Your Free Copy
L-tS at Once
tVINSLOW TAYLOR & CO.
MrmhfM Coinolldnted
Stock Exchange of Tsew York
436 WIDENER BUILDING
Philadelphia
Telephone. Walnut 0.186, Hare 5100
DIUHCT PRIVATE! WlflES
New lnrk I'lttsbtirch Chester
Huntingdon Johnstown
NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES
INDIVIDUALS AND INSTITUTIONS
HEAVY BUYERS ON N. Y. 'CHANGE
Investments for the
Readjustment Period
DURING the present epocht
readjustment ot the world't
induitry ind commerce from a war
to peiee bitu. It behooves the
Investor to place his funds, In se
curities that are strongly bul
warked against shlttlne conditions.
We shall be pleased to furnish
a selected list of such securities.
They Include Government bonds
yielding uo to 4 S3'.: municipals.
4,90 : railroads. 7".: public utili
ties. 7: Industrials. 6 S3"..
Ask for Circular PE-19S
The National City
Company
CoTTtttonltnt OPctt m 31 Clitt
Philadelphia 1421 Chestnut It
Telephone 535 Locust
Greater Degree of Activity Than for More Than Week.
Low-Priced Bonds and Dividend-Paying
Stocks in Demand
High Points in Today1 sFinancial News
Hutlna by individuals and institutions an important feature in the
trading on the New York stock market Transactions on the local exchanoe
broader than for many necks Tone of the Culb Is hcaijl. but some stocks
arc bid up to ticio high rccoids. December corn hits new high for season.
Cotton sells off ltarblion-Walkcr llcfractoiics Company pays extra divi
dend of G per cent on the common stock, liar siher Is unchanged in Xcio
York.
yew York, Dec 27.
Tho stock market showed a. greater decree oC activity today thnn It
lias tlono for more thnn a. week past, with Investment buvlng by Individ
uals and Institutions tho moit Important factor in tho trading. Many
orders cutno from that sot.rco In lojv priced bonds and In many of tho dlvl-dend-pavlng
stocks, causing n, decrcao In tho supply and creating confi
dence among many of tho traders, who wero quick to take a position on
tho long side.
13rookIn Rapid Transit, which had advanced woro than 2 points to
28, dropped to below 20, and Intorborough Consolidated prefened, which
mado an carlv gain of 1 to 21, fell to 18 a now low record
Trading In tho Liberty Issues overshadowed evcrj thing else In tho
bond market Tho l'is declined to tho new low record of 01 20 and then
rallied to 94 CO
Thoro was strength In Intorborough-Metropolltan 4s In tho early
trading, when those bonds sold at 41, followed by n reaction to 41.
The local transportation Issues were among the strongest features
early In the dnv, but becmno weak In the late trading, when reports wero
cut rent thnt some decisive action will be taken by at least one of these
corporations on January 2
NEW YORK STOCK SALES
High
, 45
, 23
58
. C5
. 3-S1
. 17s
32
, 8G
1
05
i
40
. 47
. 90
Gto,
ini
. 70
1
05
H
100
40
97
89
114
39i
fig
81
1314
70
55 k
40
46
10
Gl
101
7B'i
-
4'i
'i
1
4-
DISf ANT OPTIONS LEAD
SALES IN CORN MART
Nearby Positions Remain
Tight December at New
High Oats Are Firm
MfflSMl
m
IP..
Investment
Suggestions
We have just prepared a circu- a
lar listing 'Jo attractive Dona
offerings, including:
38 Municipals,
15 Railroads,
20 Public Utilities,
4 Industrials,
7 Foreign,
!t 11 Short Term.
The rate, maturity, price and
yield of these bonds are in
dicated, as well as their tax
exempt features. Many of the
bonds -are legal investments
for Savings Banks and Trust
Funds.
Send for a complimentary copy
of this circular, No. h-17.
A. B. Leach & Co., Inc.
115 South Fourth Street
WT6;grumimmni;mii:i;iiiii:n?;iirn:i!iim:iPiKin;!!iiii'ni!iii:nimnrn;rrTii3N3
CIiIciiko. r"C 27.
Selling by comriilsslon houes forced
the deferred months of corn off from
the top today after the market had been
strong on covering by shorts Mot of
tho business was In the distant options
as tho nearby positions remained tight
December shorts pild up to $1 58. a
new high mirk for tho season
Shipments of corn from the United
Statis for the week were 238 SS0 bush
els, against 744 389 bushels .1 ear ago
I'or the season the amount to 11,144,411
bushels against 12,208,151 bushels In
the l revlous season.
Oits wero firmer on good buying by
commission houses and covering by
shorts It was reported that good sales
had been mido for export, but this
could not be confirmed
Cash houses were moderato sellers
Trade was fairly active llccelpts re
mained laiily liberal and stocks are
large.
Leading futures ringed as follows:
Corn mew ueiivr
Oltpll
1.4J
1.37
ASH
(1)4
Jan ....
Mav
Oats
Jim .. .
May
Lard '
Jan
.VPav
nibs
Jn
Mav 2J 5j
I'ork
Tan
Mav 4J (10
Test
Hluh Low CIoe clone
1 44 1 4J 1 4-'. 1.4-.
1 JaU 1 J 1 J"' 1 Jll V
70S
uv
nsT
im
21 oo
. I S3
21 til
J4 IIJ
2'. 10
.3 72
21 R1
.J S3
2 0
.3 jei
21 on
21 07
21 7n
2J S7
21 1
2 1 53
DM Nomlnal
42 UO 42 00
47 -0 J4 -0
4J UU -42 30
IH-
IP
WAYNE COAL
7,595 .acres coal lands, equip
ment, railwa-
20 million tons strlppinf coal
iu reserve
-Whr production costs art low
Lane Earnin-s
Dividend Possibilities
Dltcunafd tn nnn.'illral report
xohtoh la uoura on request no obit
patfon. Mail coupon.
Slembers t'on. frtoek
cf V V.
628 Widener Bldg.. 1'hllc, Pa.
ril.: H'll. Mai. 08O, stars 4(0
New York Oftlce 30 llrood fit.
PHIVATB VVIIIE3
VAST STOCKS OF GRAIN HELD
America Able to Render Exten
sie Relief to Countries of Luropc
AVasblnBton. Dec 27 More than
tvvlco as much wbent and greatly In
creased stockH of all other cereals were
on hand In Cnlted States grain eleva
tors warehouses and mills December 1,
than at the s inie time a ear ago Oils
and rlee were the only exceptions Coni
nleto figures on the food supply were
made public today by the Department
of Agriculture , , . ,
The survey shows commercial stocks
of wheat totaled 219 414,832 bushel,
206 1 per cent of the 1917 stocks The
flaurcs refer to stocks reported and do
not represent the entire commercl il
stocks of tho country nor Include stocks
nfh?eago Board of Trade figures show
11.BG1,000 bushels of wheat for the com
meroial v islblc supply, as compared w Ith
21.031 000 bushels a year ago Corre.
snondlng Dradstreet figures for 1918
show 131.584 000 bushels, against 29,
631 000 bushels for 1917
I The figures indicate tne excellent posi
tion America holds regarding the food
'stuffs of the world and that this coun
Itrv through economic and efficient dls-
tr hutlon vviu e niuu iu 'c;'",V, "':""'"
relief to the countries of Kurope
COHON IS WEAKENED
BY FREER OFFERINGS
Absence of Exports Is Empba
fsized by Those Who Favor
Lower Prices
Adams Ip . .
Adv Humely .,
do pref .
AJax Iluhber .
Alaska Oold M
Aliska Juneau.
Allis-Chilmcrs.
do pref .
Ajax Hub rts .
do ex rts . .
Am Hect Sugar
Am Ilk H &. ryico
Am Can 461
do pref . . 98 'A
Am Car & l"dy. 00
do pref . .114
Am Cotton Oil 39
do pref .... 88
Am Express 84
Am Hlcto & Lea 14
do pref . . 71 '4
Amer Int Com. 56
,Am Ico Sec .
Am I.lnsee'd .
do pref
Am I.ocomo
do pref .
Am Smelling.
Assets Heal n
Atl Coast l.lne 100 U
Am Sum Tob. 90 U
do pref ... 92
Am S1net Pilv. RR
Am sugar ....110 tus-a jiu-j ;j
Am Tobacco ..191 191 191 2
do nf new . . 98 H
Am AVool . . . 50
do pref . . 94
Am S'r lap nf 20
Am 7. & Lead.. 12
Am 7. & U pr. 45
Anaconda 01 'i
Asso Dry Goods 17
Am Tel S. Tel . 98
Atihlson oift
do pref ... 89
Atlnn H & Atl CV
Atl a K W I HO1! 109
do pref . 07 (i
Hildwln I.oio. 7L 72
Ualto & Ohio.. 52
do pref ... 55 S
Hirrett Co . . 102 ,
Hatopllas Mln . lrs
Ileth Steel .. 01
Beth Steel B . 01
Hrklvn Hap Tr 28
Booth riBh Co 22'j
Burns Bros 162
Butte R. 7. Co C
Bniliswlik .. '
Buttcrlck Co 17 "j
Low
42
23
57
G5
3
l?i
31
81
I
6 b
Cfi
160
46
97
89
114
39
88
81
13
70
55
40
46
89
60 ,
101
7514
100
05
92
85
Net
char
Close
41 2
23 ..
57
65 2
3
1
32 2
-r- "i
New lork, Dec 27
Offerings of cotton were freer todij
and tho market weakened Heactlonary
talk continued In evidence and an nb
senco of exports for the day was em
phasized by those who favored lower
prices Thev pointed out tint shipments
wero falling steadily behind the schedule
necessary If the ser.son's total was to
exceed that of last sear by tho predicted
50 per cent
Weekly statistics from Liverpool were
not available owing to tho nngllsh
Christmas holldavs, which will continue
until Monday
Private dispatches from the South re
ported rn Increasing foreign Inquiry for
the staple.
Tho bujers aie seeking high grades
chiefly and totton with any staple Is
bringing high premiums
Closing prices in.ro birely steady at a
net loss of 35ci6,0 points
Tinunry
viirth .
May .
July
August
Oclnlwr
Hill
Yes Todaj s
( Into nut ri Hlnh
2 1 70 .0 SO JO 7121
9H
00
94
27
12
44
60
17
97
90
88
5
100
90 1 1,4
92 1
80 1
98
0(1 ..
94
29 1
12 'ii
44 1
60
17
97
91 i'
Net
High T.nw Close cha
ITultn.l c mti. 107IA lORii 4- 1
united Drug .
United Krult
United Ity Inv
do pref . . .
11 S Ind Alco.
U S Jlubber .
II S Smlt & llf 44
U S Steel ... 04
do pref 112
Utah Copper 73
Utah Sec Corn 1 I
Va Car Chcm 52
do nref .
Va Iron C &
Wabash .
do pref A. ,
do pref B
West Md
West Un Tel
Wcst'gV Mfg
Wheel cS. 1. I J
White Motors
Willys Overland 25
do pref
Wilson Co
Wis Central
Wor'n P H M
do pr I)
Total Miles 713 000 shares compared
with UoO 4li( shares lestcrria. thus fur thin
veek 2 1(12 (MM) shares, tjma period last
week. 2 U7J 700 shares
CURB TONE IS HEAVY,
BUT PRICES IMPROVE
KH SS BO
162 159 160 4
7 7 7
15 16 15
101 101 101
78 76 78 1
44 44 -f-
03 93
112 112
72 73
13 13
52 52 1
112 112 112
C 56 56 50
. 8 8 8
. 3 J 32 32
. 20 20 20 ..
. 12 10 10 1
. 85 84 85 '1 4-
. 41 42 42
. 8 8 8
4El7 At A 1 .1 . -L 1 .
i u -a it mi "T
25 25
73 71 73 1
30 30- 30
5 I 53 53
66. 06 6C
Philadelphia Stocks
100 Adams 13 44
50 Bait & o. B2
5 11 & S pf 53 ,
30 Brill J o 20
132 C Kx Nnt
Bk war 132
82nieo Stor 52
50 Hrlo .... 17
220 den Asph 38
10 do pref. 7G
1400 Int P pf 62
1230 Lit Sup C 17
129 Leh Xav. G9
373 1.011 Val. 55
TMInehlll.. 61
lOMIdValo.. 42
510 Nev Cons 17
60 N Y N II
& II . . 31
1305Penna Hit 45
130 Phlla Vice 25
274neadlng.. 80
100 dolstpf. 37
2000Ton"Bcl. 2
159 Ton Mln. 3
20 Un Tract 38
68 U O I. . 72
20 U C N' J 190
1045 U S Steel 93
400 Wisconsin
Cent . . 30
2W J & s 46
102 W Cramp 81
I.OW
44
61
53
20
130
62
17
37
76
62
17
08
54
61
42
16
31
44
25
79
37
2
3
38
72
190
93
29
45
83
Net
Close che"
44 2
51
53
20
3
4
It
130
62
17
38
76
6
17 ..
684!
65 1
51 1
42
17
31
4t"t
25
80
Ti
8
i
37
3
38
72
190 2
93
TRANSACTIONS IN LOCAL MARKET
COVER WIDE LIST OF SECURITIES
29
46
83
Butto & hp Cop 19Js
tt A. Ariz 61V
iu'a
b4
61
65
102
1
CO
00
25 h
21
150
5
8
17
10
61
20
(it
1
1
1
2; -ii .x 4", .s -,ii J7 st
-'7 71 27 70 27 71 27 11
27 II" .0 t)-, .7 im (! ,-lS
-il 12 J -i 110
.4 20 24 70 24 63
LOCAL MINIiNG STOCKS
TONOPVH STOCKS
Name
Street No
Cltv State
WC-15
Ntrth Houtli Kust nnil West all
should Invest. lll IV S. H.
r
Keystone Tire
'Island Oil
Oklahoma Producing
V4
i
17ufleftit on ZsqueaiT
S-- ;DUNHAMfii
?y I"SPECIALliTb
t"' i3 Exchango Place New York
J- '1
NEW YORK COrrEE MARKET
York. Dec 27 Tho coffee mar
ket continued to feel Its way today anil
during the early trading thcro appeared
to bo little disposition to do business on
either side, brokers awaiting develop-
""sliortly after the call July sold at
16 9hc or 22 points below tho previous
Wall Street had a few selling orders
around the ring but there were few sup
porting orders!., evidence The strength
In tho primary nnrkets failed to stlm-
..t-.- t.nulnr uu liere
The Hlo spot intrket was reported
oo rels higher Santos unchanged ana
future 60 to 100 rels higher
In the cost and freight mirket San
tos 4s havo sold at 21c Bteamer, Lon
don credits. t
Open Utah Low Close elos;
Tim llutler .
MacN'amara . .
Midway
Mlzpnh Extension
Montana
N'orth Star ..
Rescue Kula . .
West End
tlld
II
in
17
no
n
07
07
1'.
GOI.DriCI D STOCKS
CllU.ni
Cal Petrol
tin nref
Can Pacific ..15G 155
Ciso ,T I pref 91 91
Ccr'n'd P 1st pf 82 82
Cent Leather . 57 54
do nref 101 101
Cerro de Pisco 31 IT,
Ches L Ohio 5G
Chicago C, W.. 8
Chi fit West . 217
Chi SI .1 St P . 40
do pref 71
Chi & NorthWt 0G
Chi It I & I' to 25 '4
do 6 p c pf 65
C H IAVP 7 pc pf 79
Chile Copper . 18
Chlno Con Cop 32
Col I'uel S. Iron 38
Col lias k Ulec 41
Consol lias . 07
cont Can 69
Corn l'roducts 48
do pref 101
Cruclblo Steel. 67
do pref . .88
Cub i Cane bug 29
do pref . 79
Deem Co pref. 95
Del el Hudson 104
do pref . 86
Del Lack S. W 185
Denv . It C, pf G
Dome Mines 12
D'stlllers Sec . 61
Lrlo gen lien 54
l-Hn 17.
'"; r'0r.i:rlo 1st pref 28
-,. -'s.i-1,,1 -vi jc smpn in
J7 25 do pref .. . 37
i.as'.on vms -?
(ener.il C Co 45
flen Lire Co 146
Gen Motors .130
do pref . 81
Hood rich B V 66
firanbv Mln 78
fit North pref 9"
Ot N'rth O subs 32
Cult St Steel. 62
llartman Corp 54
C.ulf M & W pf 33 '4
Illinois Cent 96
Int Agrlcul .11
do pref . 40
Inso Copper . 45
Inter-Cons Cor C ,
89
5
110
67
74
51
65
102
1
60
Cl
20
21
150 1
5 1
0 1
17
19
61
20
64 4
155
'1
K2 2ji
55
7
23
18
70
01
2 n
65
78
17
11
38
30
91
68
47
103
56
88
20
78
95
101
86
170
5
12
49
53
16
67
101
11
65
S .11 llll
no ., o ,
4 .0 24 20
Asked
IS
11
.0
07
11
(10
oo
l'i
Atlanta ..
lilue Dull .
Iiooth
niamf II 11
Dalsv
KennnaH
oro
Spearhead
Sllier Pick
ot
02
11
02
02
Oil
.01
.IS
05
MlSCUM.ANEOfS
Arizona United , 28
Seada VVondtr I)
licopii Mlnlni: ... 11
on
04
l'l
in
01
(17
ni
21
.07
31
.13
21
do nref
Int Har Corp
Int Mr Mar
do pref
Inter Papei
do pref st i.
Inter N ckel .
do nref
Inter It T p.ef 72
10
37
29
45
115
129
80
65
78
0 4
31
61
51
33
Oil
11
49
45
4
18
2
7
23
39
70 1
91
25 4
G5 2
78
17
31
38
41 2
01 H
60
47
101
56 ..
88 1
20
70
95
102 3
80
179
G
12 4
61 1
53 1
16
28
10
37
Keystone Tire Forced to New
High Record Independ
ent Oils Lower
New ork, Dec 27.
There was a generally heavy tono
through tho trading on tho Broad street
curb, but some of those stocks which
n.e easily controlled were bid up to new
high records
Kestono Tiro was tho most promi
nent, th it stock being forced up from
13 to tho new high iccord of 46 h, or
equal to 4oo per cent, Its par aluo be
ing J 10 a share.
Independent oil stocks were generally
heavy, with Itoyal Dutch Belling at t7
to C7i, Island Oil at 5 to 5, Okla
homa at 9 to 9 and Cosden at 6.
Tho war-order stocks Joined In a
downward movement, Submarine Boat
dropping from 11 to 10, Aetna Ex
plosives from 6 to 5 and Wright-Martin
sold at 1 and Curtlss Aeroplane
at 12
Ponnslvnnla new 5s sold down to
08 '2 Interborough 7s wero in better
demand, with trading at 91 to 92.
110 110
uu 2'.
112
30
02
12
96
La (las met
Jowel T(.i
do pref
Kan City South
Kely Sprlngd ,
Kennecott Cep.
Lick Steel ..
Laclede (las
I.ako Lrle & W
LIVESTOCK QUOTATIONS
riitrairo. Dpi? J7 Ttrjr. .n..inf..
Iinil ha is 1 1 MfDi.di tn utir... .. Its, . .... i Ijilm) I
U-nt time Ton, $17 si, bulk 117 4uft 17 An Ie.iBh Valley.
nruvy uuit-nern. u Miri'if r i lent unci mo.
(Hum luitcherw, $17 (lOdT17 Ml llht, $10 80
i. .u, neavy pacKing, iti T'wi7 -in medium
nnd mixed i-ackintr, St7 3317 00. throw-
outs $n SOtplU 71. pli.3 good to choice.
$11 WW IB
CATTLi; rUerelptH 000 head Deef and
butcher cnttk wteHily to lic hlsher Cnlvea
tit ady, lust fi eder and others slow to
lower Ueef cattle, good choice nnd prime,
$1. no 0 1H 7T common and prime ?0 ".u
Hi in butcher helfera fSV14A0, cowh
IfijtJlS ."tO, Htockerti and feeiUra wood,
choice and fancy IQZW13T inferior
common and medium $7 2"i10 1jO, eal
calea cood to choice, IllfClu
SHKEI -Receipts 111 IHI0 head Fat
I a m)t. yearlings fully 2Ze to rOc higher,
fat sheep, upcnlng slow fetdcrn, trade aulet.
fc -y Ui S. LIBERTY BONDS
' , $50, $100, $1000
4 MMMHr. SOU) AMI nKCOVIME.NDED
"S toil INETJUi.NT
Jlwltarger, Henderson & Loeb
1110 fllKSTNlIT NTXIiltT
. Y. 1'hllj. Murk l.xrlmnsM
May .
June
July
Auausc
r.e.)tember
November
December .
17 M) 17 (10 HI ' 1" tl 17 "1
ill 41 1(141 1(14". 10 41 17 21
17 20 1(1 IIS 111 10 HI 14 17 '.0
111 1 10 21 HI 21 HI 21 17 20
17 11 1 US HI 211 HI ii 17 20
17 01 17 01 17 111 HI 10 17 (II
1(1 110 10 (I 10 (14 10 03 17.00
I'lttslmrxll, Dec 27 IIOO Receipts
I '00 head Stead) Good 117 OS I'les
2"c to ado hlaher $17
CATTLI3 Receipts, 100 head. Steady,
slow
SHEEP Iterelpts .100 head Steady, ac
tive, (S to $u .10 I amlis, $10615 50.
l'nst HufTulo. Dec 27 CATTLE Ro.
celpts 1RO head Steady
CAIAKH Receipts 110 head Steady
ROUS It. celpts 20 000 head Rleady
Heavy mixed nnd Mir kirn, 17 70, Hunt
corners mm pirs tli
.SHEEP AND LAMIIS Receipts. 2000
h ad Active and atrnnfr Lambs. (0 .10
10 33 Others unchanged
91
30
88
IV
33
67
83
8
54
111
30
62
31
90
71
91
28
88
18
69
32
07
83
7
54
29,
45
14 6
129
80
65
781.
94".
32
G2
64
33
06
11
49
45
4
18
110
25
112
30
62'
31
96
71
94
28
88
18
69
33
67 1
81
7
54
3'
2
2'J
1
u
t
i
1
1
1
6
1
4-
i
, i
4
INDUSTRIALS,
Hid
Yest close
Ask tsale)
0 6
0
1 4
3
65
35
85
8
155
83
14
100
S3
35
NEW YORK nDTTEIt AND EGGS
New lork. Dee 27 nPTTER Receipts
ll'flOt tubs. Extras 0HV,c outside firsts
(13 14 ( 08c I seconds B001c State dairy. 47
B.lOo imitation creamery 47lNc
KClflS Receipts, 0(141 cases Extras 07
fflllsc "xtra firsts OStrnOc firsts, O304e
i.enndi nnOJ'ie refrlers.tors, special
marked firsts 40.14c dirties No J, .110
Mci No 2 48054c checks 44flo. State
while H0W8.1C. western and southern whites,
fli)lH0cl Pacific coast whites, 7O0HOc.
brown, 70 W 72c mixed color 0308c under
afido checks 42045c storage eaas. 40 S 54c.
BAR SILVER
Last 1010
(Today Yes Krl lIUIl I.nw
N Y (els' 1 01H 1 01W 1.01 1 Off. R3'l
Kunsns Cll. Dec 27
ouiii. nnu nieiiuy
HOOS Receipts 4100 head
llln hlvher
SHEEP Receipts 000 head. Illzher.
CATTLH Receipts
Active 5 to
Lpo Hb & Tiro 22
Llg &. Mvcrs. 209 200 209
uo pref . .loo t too ..
Loose-Wiles B. 44 44 44
Lorlllard P.... 150 150 150
do pref. ...101 104 104
Lou & Nash .118 118 118
Mackay Co pf.. 64 04 04
Manhat III . .. 81 80 81
Max Motor .. 28 28 28
do 1st pref . 52 50 DO;
do 2d pref . 21 19 10
Mav Dent Scrs 00 69 60
Mex Pet.ol .169
Miami Con C . 23
Mldvate Steel 43
Minn X. St L n 11
Mo Kan & Tex 5
do pref .. 8
Mo Pac ... 24
do pref . 52
Nat Acmo . 29
Nat Con & Cab 15
Nat Biscuit 108
Nat I. & S pr 47
do pref . 92
Knllonal Lead. 63
Nev Con Cop . 10 16 10
X n T & M . 31 31 31
N Y Air B.ake 99 98 o'j
N Y Cent . 75 71 74
N Y Dock . . 25 25 25
do pref . . 46 40 40
NY N II & 11 31 30 31
v v nnt & w 20 zim zui
Norf & West 105 105 105
do rts
do pref 72 72 72
Aetna LmiIosIvcs
Am-Hrlt Mfg 2
Am Ainrconl 3
Am Writing Paper... 2
Air Heductlon 55
Canadian Car Co .... 28
Clin Car .1 Tdy pref.. 75
Charcoil Iron . . .. , 7
Chevrolet Motors. ..115
Cramp 78
Cuitlss Airplane.. .. 11
Cam en Tool 2
Carbon Steel 00
Linerson Phonograph 1
Hendee Mfg 10
Lake Torp Boat .... 1
Lehigh Coal Sales. .. 88
Lima Loco 20
Maxim Munitions....
N Y Shipbuilding ... 34
Nor Amcr Pap Pulp. . 2
Otis Hlevator CO
Pcerles Motor 18
Poole Lng 20
Scripps-Booth ... . 11
Standard Moto.s .... 8
Steel Alloja 7
Submarine) 10
St Joseph Lead .... 10
Todd Shipbuilding .. 98
Triangle Film
L lilted Profit Sharing
V S Steamship . . 1
United Motors 3J
orld s l'Mm ...
Wrlght-Mnrtln Air . 4
STAM.Altl) OIL
Illinois 151 153
Ohio 116 320
Piarlo Plpo 2G5 270
S O Cal 245 248
H . J 645 055
SONY J01 303
imiki'i:m)i:m oil stocks
jiariieie uu Ac uas... f,
Cosden & Co 0
l'.lk Basin 5
Federal Oil 1
Inter Petrol 18
Houston Oil 70
Merrltt Oil 22
.Mldwtst Itcflnlng 122
Met Petrol 1
Ohio Fuel 13
Oklahoma Itof 9
Sapulpa Hef 0
Sequovah
Sinclair 21
Total sales 0781 shares, compared with
7077 shares yesterday thus for this week,
2 i 80 shares, sumo period last week, 23.
257 shares.
I10M1S Net
.. . Hluh Low Close chao.
$1000 Am TCo
6s 1925 102 102 102
2000 Am C5as&
IJIeo 5s 87 87 87
lOOOHqult 111
Uas 5s 101 103 103A 5
40
40
2000 Int Ilys 4s 40
iuuu i.en val
cons Cs
reg . . 101
1000 Leh Vnl
Coal 5s 100
1200 Lib Bonds
3d 4s 95 10
3500 do 4th
4s .94 30
1000 Pa & Md
Stl 6s.. 102 102 102
3000Pcnna Co
Con 4s
I960 .. 00
7000 I'll Co con
1st 6s '
stp reg 100
8300 Phlla Klec
1st 5s.. 96
10000 Span-Am
Ir 6s.. .100 100
103 103
100 100
94 90 94 90 .30
94 26 94 36 .14
96
100
94
96
100
94 1
100
Total sales. $42 000. compared with $20,-
.iM. lesieriay; inus lar mis weeK, iim.uui
n.mt. vuuuu last weeK, ..iu.ifv.
Local Bid and Ashed
Todo
Hid Asked
Huff t Rlisn t c... 71
no preerreu .... it
Drill J O
llaldwtn 7H4
Klectrlo fitoraae . . r2'5
General Asphalt .. 37
do preferred .... 71
Kis stone Tele .... 10
do preferred .... 47
I ako sun Corn . . 17
Lchlxli Navigation. IIS
I.ehlEh Valley . ,',4Va
Lehliih Val Trail.. It
do preferred . . . 21V4
rennslviintn .. .. .4
Phlla flectrln '",
Phlla Co . .
do 1 p o prof
do 0 p p pref
Phil It T t c
7.1
rr.
21
74
51
H
70
It
r.n
oiiH
55
Yesteidov
Hid Asked
38
ci .:"
19
40
30
8 ..
8
11 1 1
11 12
102
.
..
6.
33 34
4 '4
80 81 1
28 28
50 60
19 0'j
69 CO
107 168
22 22
42 42
11 11 1
0 5 -f
8 8
24 24 -f
62 52 4-1
28 28
15 16
100 108
40 47 1
92 92 4-1
C3 63 4-
644
300
G
5
i
2314
12.1
o
17
9
7
0
172
71
23
122
21
Heiullnir . .
Tonop in Belmont .,
lononah Mlnlnir . . .
Union Traction . ,
IT 1 I
tf S Steel . . . .
IV m Cramp A Sons
York RallwaH . . .
uo prezerreu . . .
2U
12'4
2(1 il
attj
B4
7
31
r&
in
10
:it
.111
72",
niK
85
7.1
ot
7H
02
.17V4
7.1
II)
07
17.,
us;;
51
14
w
00
30
211
72k
.1
1S
72
nii
TH.
HIS
is
7t4
31.
7i
mi
21
7IV4
OJ
41)
17'4
(10
04
Li."?
.in
71
Hi's.
80
Few Violent Changes in Prices and, Taken as a Whole",
Market Is One of Recessions Brill Drops
47o Points
Transactions on tho floor of tho Philadelphia Stock Exchange at t6day'n
session covered a larger list of Issues than has been brought out for many
weeks past. Thcro were few violent changes In price nnd, taken ns a whole,
the market was one of recessions. In tho case of somo of tho. rails there
was Improvement.
A decided drop In the shares of tho J. 3. Brill Company occurred when
tho stock of that corporation fell 4 points on n salo of thirty shares. No
reason was given on tho Street In explanation of the slump.
Several small blocks of the Cramp Shipbuilding stock mado n good nd
vanco at 83, up 3 points from tho last salo. Steel gained , United Gas Im
provement lost and Lakp Superior Corporation was up A small block
of Mldvalo was unchanged at 42.
Italls wero spotty. Baltimore and Ohio, Buffalo and Susquehanna, Penn
sylvania nnd New Haven wero off. Lehigh Valley, Heading; and West Jersey
nnd Scashoro advanced.
Bonds wero fairly active, but nt price changes which ivero uninteresting.
MONEY-LENDING RATES
M1W Yonit Money on call, mixed
collateral, ruled all day 6 per cent nnd
on Industrials at 6 per cent.
Tho tlmo money market was Inactive
today and rates were, nominally un
changed at 5 per cent for sixty and
ninety dnys on Industrial securities nnd
5 'iff) 5 per cent for the samo periods
on good mixed collateral.
Prime bank acceptances are moderate
ly active at recently ruling figures for
slxtv nnd ninety dajs at 4 6-lG4 3-16
for eligible members: 4 4 per cent
for eligible nonmembers nnd 5(5'4
per cent for lnellglbles
Call loans on choice bnnk acceptances
are unchanged at 4 per cent.
Prlmo mercantile piper Is dull on
light offerings nt 55 per cent.
rillLAIiTILPlIIA Call. 6 per cent;
time 56 per cent. Commercial pa
per, threo to six months, 506 per cent;
six months, 6 per cent.
LONDON Money Is quoted nt 3 per
cent. Discount rates, short and three
month bills, 3 17-32 per cent.
FOREIGN EXCHANGE
New York. Dee. 27 It Is a matter of
general knowledgo that the fluctuations
In the foreign exchange market here nro
almost entifelv n reflection of London's
operations, rather thin of local opinion.
The fact that London wfcs closed Yes
terday because ot tho Christmas holiday,
caused tne maneec neio 10 uo u ijcuunv;
tory affair.
Quotations In the early dealings today
were entirely nominal, as follow s:
Demand sterling 4.75. cables
4 76 7-16. Sixty-day bills 4.73, ninety-
Franc cnbles 6 44. 'checks 5 45.
Lire cables G 35. checks 6.37.
Swiss cables 4.77. checks 4 80
Oulldcr cables 42. checks 42
Pesetas cables 20 10. checks 20 00
Stockholm cables 29, checks 29.
Chrlstlanla cables 28, checks 27.
Copenhagen cables 27, checks 26.
Iluhlc currencv was heavy at a nom
inal figure of 1C16.
INCREASE CAPITAL STOCK
Pennsylvania Corporations Ask Right to
Issue Securities
Itnrrlsburs;, Dec. 27. Tho following
notices of Increases of Btock have been
filed ot the State Capitol by Pennsylva
nia corporations: Allegheny-Pittsburgh
Coal Company, Pittsburgh, $6000 to
$1,000,000; Pennsylvania Rubber Com
pany, .leanette $6,000,000 to 16.210,000;
Bostaph Coal Company, Pittsburgh,
$55,000 to $75, M0; Lnndls Engineering
and Manufacturing Company, Waynes
boro, $20,000 to $150 000; SherWtt &
Htoer Co, Inc. Philadelphia, $50,000 to
$100 000 ; Summcrlll Tubing Company,
Norrlstown $100,000 to $250,000 (debt
$50,000) ; Wllkes-Barro Laco Manufac
turing Company, $1,000,000 to $2,000,
000; Harrlshurg Baking Company, Har
rlsburg, $5000 to $100,000; Holder Con
struction Company, Braddock, $10,000
to $25,000: The Hlddlo Company, Phil
adelphia, $100,000 to $200,000; Kcath.
Planing Mill Company, Lltltz, $20,000
to $30,000; New England Tobacco Com
pany, Lancaster, $30,000 to $56 500;
North Chester llealty Company, Ches
ter, (debt) $275,000 to $450,000.
PIIILA. INACTIVE STOCKS
Following nro quotations for Inactive
stocks listed In tho Philadelphia Stock
Exchange nnd In which there wero no
transactions today. The price given
Is the last nr"lous close"
Acme Tea Co 79 Ins Co of N A 27
Amer Gas .. 74, Little Schuyl 48
Am Ilwys prf 09 Lit Bros 25
Am Stores pf 90 North Central 75
A G war ... 7 North Ponna 94
Am Milling.. 10 P N Bk pf..275
Am Strs pf . . 90 Penna Salt. . . 85
BufT S. Sus to 73 Phil Co cm pf 32
Brill J G pf . . 70 Phlla i:i w w
Cambria Iron. 39 Phlla &. West 6
Cambria Steel 115 P II T ctfs. . . 27
Cataw 1st pf 62 Phlla Trao . 71
catavv 2cl pf 54 Ilwys uen.,
Cns T of NJ 90 Ton Ming ..
Fth S N B 180 War I & S.
Gen Asnh nf 76W, West Coal..
Hunt & n T 10 York Bwys.. 7
3
8
76
Hun & BTpf 16 L II T.ans pf 25
Vein York Bonds
IIIbIi Low Closo
103000 Am Agr db 5s. 101 101 101
127000 Ang-Frnch 6s. 97 97 97
10000 Am For Sec 5e 99 99 99
18000 Am T & T 6s. 102 101 101
5000 do 6s 93 93 93
2000 Armour C 4 s 87 86 86
t.u()U AtclIIFon 4s .. 84 SJjt
4000 Bait & Ohio 4s 81 81
15000 do cv 4s.. 78 78
14000 Beth Stl 5s '36 83 83
1000O Bklyn Hp T 4s 63 53
20000 do 7s 88 87
2000 Chile 6s 83 83
' DANK CLEARINGS
rxanle rleArlniTR compared -nlth the corre
spondlmr day last two years-
New Yk 0S7.4S1.29S 50s O01 660 001 I.H4 000
Phlla ...1)0 4(111110 68 4(12,108 11101)2.122
Iloston.. 00 1101014 40 478 40S 34 577.014
Chlcano HO 209.810 78,170 343 77,880,227
Baltimore 14.400 022
.
RAILROAD EARNINGS
CANADIAN TACIPIC
1018 Increase
Third week December $1 T31 000 $080,000
WESTERN MARYLAND
October Bros $1,202,474 $27,710
Ten months ttross.. 12,271.880 1.098.104
Bank of England Statement
London, Dec. 27 Tho weekly state
ment of the Bank of I'ngfand shows the
following changes: Total reserve de
creased 837.050 ; circulation increased
1,343,000; bullion Increased 506,053;
otoher securities decreased 1,077,000;
other securities decreased 5,226,000;
other deposits Increased 5,152,000; notes
reserve decreased 769,000 : Government
securities Increased 1,850,000. The
firoportlon of the bank's reserve to
lability this week Is 15 78 per cent; last
week It was 16 26 per cent The dis
count rate is 5 ner cent.
WANTED
For Eastern and Middle
States, salesman capable
of handling jobbing groc
ery and tobacco trade.
In replying, give full de
tails of your experience,
etc.
A 224, Ledger Office
18000 Chile Cop 7s .100 100
STOCKS
. 4 4
MIMNO
Allairtn
Big Ledgo
Butto New York . .
Con Arizona 1
C P S & Jerome ....
First National 1
Goldflcld Merger ... 5
Goldfleld Cons 22
(loldlleld Florence ., 10
Goldfleld Kewanas .. 4
Green Monster
ilecla Alining 4
IIovvo Sound 3
Independenco I,oud . 2
Jerome Verde .... A
Jim Butler . . . 31
Jumbo Extension . 12
McKlnlev Darragh . . 45
Magma Copper ... 24
Mother Lodo . . 33
Mines Co of America
Neveda Hills .... 3
Nevada Wonder .
MplsMng 8 '4
Ohio Copper
itay uorcuies J
Smith Omaha Die 27 Iioas Receipts
10 noil. Pew steadv 5o hlnher Mostly 10W
lie hmher f'loslnn weak
CATTLE Receipts 1U0O head. Htrona 16
JJV hluher
811 IlhP Receipts 3300 head Twenty-five
cents hlsher
Financial Briefs
..Drop in Wheat Exports
vw Yirk. Dec. 27 Bradstreet's re
port tne exports, of grain for the week
wKh'uonTparlson figures In bushels be
Altowas, Wieat, flour Included, 9,175.-
kstiinsi -j.sji.ioj uusneis just: weex
t04i7Sl bushels In this week last
Trrmi .Tlllv 1 In rtflte 132.102.410
T compared with 135,692,285 In
i ponod n year ago. c:orn, zjs,.
els contrasted with 102,788 last
; fMMI Ti?89 In thla week, a yenr
(frWJuly 1. JJ.U4.411 bushels.
HkI 19..iV0t1U4 kid cvrrBunu.iiff
last ywr.
-. . WMI.IS.I.IS .aillS SS..IIHISB
btlKtVAtyP teGGS-
. s!sf
f ,
. ISSMWBX?
', ilitfipCisMi
SHTF..S
Financial Review of 1918
ThO KVCNINO PUBLIC L)EDCJEn
will print on Tuesday, December 31,
and for somo days following, a Fi
nancial Bevlevv of the year as com
piled by tho Now York livening
Post.
Tho Jlevtcw will contain records
of tho financial year; retrospect
and forecast from tho world's cen
ters of trade, together vth tables
showing price movements on stock,
bond und commodity markets In
general.
The committee on ndmUslon to the
New York Stock Exchange has elected
to membership Albert E Thurber and
Louis Iselln Proposed transfer of mem
bershlps The seat of Edward La Mon
tague, deceased, to Grafton II. Pjne,
consideration $05,000 , the seat of George
Arents, ueceaseu, to .Maurice a. uumar
tin, consideration $05,000
The Now York Subtreasury lost $934.-
000 to the banks yesterday, reducing
tho cash net gain since Friday to
$768,000.
The Houston Oil Comnany ot Texas
reports for the year ended September
30 total receipts ot $1,860,5(3, ngalnst
$1,724,693 the previous year, and a sur
plus, after preferred dividends, of $007,.
291, against $423,319 In 1917.
The Philadelphia Federal Ileserve dis
trict considerably oversubscribed Its
quota on the second Issue of Treasury
certificates offered In anticipation of the
fifth Liberty Loan, The subscriptions
aggregated $40,409,500 against a quota
of $35,300,000.
Haddington Title and Trust Company,
directors today elected James W. Mao
Hurnv Bcretnrv and treasurer nf the.
company and piaude Henderson, assist-,
Vnrth Amer . 4 8Ti
Northern Pac. 93
Nova So Steel 55
Ohio Oas .... 43
Owens Hot ... 46
Pacific Mall . . . ,38
Pan-Am Pet pf 65
Penna H H ... 44
PtoOas & C... 50
Fere Marquette 14
do pr pref .. 59
Phlla Co 29
Pitts & West.. 36
Pierce Arrow .. 43
Pierce Oil .... 16
Pitts Coal .... 46
Pressed Stl Car 63
Ilnllmon Tnl C 110
Hv Steel Spg.. 74
48
'J n
64
42
44
38
65
43
48
13
59
29
35
42
16
46
03
114
74
11
48
93
54
43
44 2
38 1
65
44
40
13
59 1
29
35
42 ..
16
46 j!
63
114 1
74
San Tov
Tonopah Extension
United Verdo . . .
WeBt End Con . .
Whlto Caps ... .
Yerlngton ... .
8
1
1
2
6
24
15
C
4
4
3
37
14
48
25
35
1
5
9
3
10
2
30 'A
5'4
11
34 30
:::: ft M
.... 4 0
1IO.MIH
Bethlehem 7s .
Cosden Oil 6s . .
t'OHden & Co 6s 82
Cudahy 5s 102
Huralan Govern 6s 50
do 6s ... .65
Southern Hallway 6s. 99
Sinclair Oil 6s ... 85
Todd Shipbuilding 6s 104
lAfu inn. in3i
nay Con Cop. . 20 19 20 U
Heading ...... 80 78 80 1
do 2d pref . 38 88 38 -
Iron & Htl. 74 ft 73 (174 fll
97 97 97 7
103 101 102 1
i I L -
Hen
H I & Stl pr.
lloyal Dutch.
Onvnn MnlnrR . I '
! .-. -, r ,., ,,,.- , .,
St L H 1' 1074 io-s u-4 -j- 7
Bt ii South.. .. 181 l la
Seaboard A L ?s w 27 "" 2
do nref .... 18 18 ,18
Sears Hoebuck.173 170 173
Khuttuclc Aril. 14 14 W
Sloss-Sh S, & I 49
Sinclair Oil . 33
Southern Paa. 09
Southern It H. 29
Htudebaker ... 60
ctiitv Motors. . BO
T-nn I'nn & G 13s'
Texas & Tao . 27,!
Texas Co ,...188,
Texas Co rts 10
Third Ave It II 14
Tobacco Piods. 81
do pret . ..
Tmnanii Will
Twin C B T. 48
ijnlon par40o.J2T
4
49 49
32 33 -
98 09 --1
28 2ft --
50 50 --
49 49 --
i 13 3 3H
k zs'ii
187 1
88 -
lSa::
ds. 81 80 80 .
.,,102$ 100 102
11.. 39 SS 88
in a
lifj 127
.-1
7S
1.
100 100
82 86
82 85
102
63
56
99
89
108
4
4
35
24
35
3
1
10
57
60
79
60
95
72
81
79
99
97
97
97
47
46
50
83
81
78
83
63
87
83
106
80
87
60
95
72
81
79
99
97
97
97
47
46
50
DIVIDENDS DECLARED
Oeorala Liaht. Power nnd Railways Com
pany, quarterly of 1V4 per cent on preferred,
payable, January 2 to stock ot record Decem
ber 20
Itemlnston Typewriter Compnny. quarterly
of 1 per cent on first preferred for the
quarter ended December 81, payable from
surplus profits of the company to atock of
record January 10
New Jersey Zlno Company, quarterly of
1 per ceni, payuuia reuruary lu .0 ICOCK
of record January 81,
I'lttsburah. Cincinnati Chlcarn nn.1 fit-
Lout Railroad (Panhandle) semiannual of 2
per cent, payauio January -o 10 biock ot reO'
onl January 10
Pennsylvania Comnanv. n. dividend nt s
per cent payable December 31 to atock of
record December 27
Quaker City National Rank semiannual of
3'i per cent, payable January S to stock
of record December 27
Hell Telephone, Company oP Pennsylvania,
quarterly of IM rr cent, payable January
15 stock of record January 0.
Plerre.Arrnw Motor Car Company, quar
terly nf $1,21 a share on common payable
February 1 to stock of record January 18.
United llrua Company, quarterly of ill
per cent on first preferred, payable February
1 to stock of record January IS.
5000 C & O cv 414s 80
5000 do cv 5s .... 87
. 1000 C Gt West 4s. 61
40000 C B i Q reg 4s 95
14000 Chi Mil & St I
rfd 4 'is ... 73
20000 do cv 5s ... 82
32000 do cv 4s . 79
24000 Cy of Paris 6s 99
81000 Dom Con 1921. 9t
11000 do 1931 97
1000 do 1920 07
5000 Erlo cv 4s Scr
A 47
7000 do Ser B.... 47
22000 do Ser D.... 61
267000 Teh Hep 5S.105 104 104
2000 Gen i:ic deb 5s 101 101 101
1000 H &. Man In 6s 17 16 17
iiiiuuo nil met 4', is.. 14V
3000 Int M Mar 6s. 101
2000 Kan C So 6s. 84
lUOOL.g & ju r (s.uitt iu
718000 Lib Bond 3s 99 60 99 00
168000 do cv 4s.... 92 98 92 76
10000 do 1st 4s.. 93 00 92 80
4606000 do 4 Vis... 95 48 96 10
22000 do 1st 4u. 96 62 96 30
4322000 do 2d 4s. 94 60 93.80
4981000 do 4th 48 94.40 94 20
1000 Lyons 0s 101 101
1000 Lehigh V C 6a 99 99
0000 do rets 6s 102 102
4000Mldvale 6s.... 88 88
5000 Minn & St Ii 4s 88 88
3000 Mo Pac gen 4s. 63 62
67000 N Y C & II 6s 98 97
3000 do 4s 84 84
3000 N Y City 4s '69 03 93
10000 N Y C 4s '65.101 101
30000 N V Hwy 4s. 42 42
30000 do 5s 11 11
2000 NY Tel gn 4s 90 90
1000 N Y W C & B
4H 54 54
15000 No Pao 4s ... 85 84
3000 Pa gen ct 4s 90 00
5000 Pero Marq 6s. 87 87
6000 Heading gn 4s 85 84
2000 Bio O & W 48 73 73
8000 Sinclair Oil 7s 95 95
13000S A L adj 5s.. 62 51
50000 So Pao cv 4s.. 84 84
7000 do ov 5s, .,,102 101 aj
32000 So Hwy 4s.... 67 66
16000 do 6b 95
10000 Third Ave 4s.. 5
8000 do adj 5s... 29
J 0000 U R Hubber 5; 86
4000 do 7s 102
27000 USSteel s f 6s. 99
36000 Union Pao 4s.. 87
2000 do 6s 105
139000 U K of O B &
I EUs '19. ..100
151000 do new '19. .101 101 101
21000 do '31 98 98 08
6000Va-Car Ch Os.101 101 101
40COWest Md 4b.. 60 60 00
Total sales. $34,162,000. pomnared with
20 U27.0OU yesterday, thus far thla week.
nun,uuui sums Mvnuu msi wcck, fio,-00O,
WE RECOMMEND THE PURCHASE OF
IRD AND FOL
LIBERTY LOAN
BONDS
AT PRESENT MARKET PRICES
Rate
454
Callable
1933
Due
1938
1928
Approx. Yield
If Called, or If
Selling at Par.
In 1933
4.75
t
Approx.
Yield to
Maturity
4.67
4.85
1C0, J100, 1600 AND $1000 DENOMINATIONS
FULL INFORMATION REGARDING THE TAX
FEATURES OF THE LIBERTY LOAN BOND
ISSUES WILL BE FURNISHED UPON REQUEST
MONTGOMERY & CO.
1S3 SOUTH 4TH 8TREET
PHILADELPHIA
14 WALL STREET
NEW YORK
nOVKHNMENT SEfURITIKS DKl'AUTMENT
TELEPHONES, HELL, I.OM1IAKD 4320) KEYSTONE, MAIN 2384
5
sZ
951
104 104
09 09
Refined .Sugar Remalm Unchanged
New York, Bee. 27. Tho refined sugar
markfit remains virtually unchange i. The,
rlemanil In llcrht and ssvnrnf frugal rH
Antra are still withdrawn owln to- lt IgjjjWratlpn "f""'aU2i wPtlX
it
!SO I
HI i
03,
Increase in Flour Output
Minneapolis, Deo. 27. The North
western Miller says I The Minneapolis
flour output last week Increasedd 1880
barrels. The mills made during tho
week ended December 21. 445,140 bar-
rels, otialnat 383.225 barrels In 1917,
Witu the fcbandonment of th food ad
ahilfitrfittrm rffutatllaUai nertainlniAia
:f"s- T-av ... f r' H"' a-r . i tnigp -, - - j- r- - ,-.--.., --., TV" V I."
To Business Men With
. $10,00Q or More to Invest
JONH5S & BAKER direct special attention
to the present enormous possibilities of tho estab'
Ub-hcd Independent Oil companies. Printed reporta
giving complete data on these companies in clear con.,
denscd form for quick analysis dividends, ofllcoM,
capital, properties, earnings will bo sent free without ,
obligation on your part.
As a timely expression of tho convenience nnd help
fulness of this pee service, a report is oiTered on
COSDEN OIL COMPANY
tho great producing, transporting, refining and selling
Institution of Tulsa 'and Cushing whose enterprise, strategic loca
tion (in the prolific Mld.Coiitlnent and spectacular North Texas
fields) and 44 million dollar equipment and lands (600,000 acr$i)
are attracting unusual attention from forward looking investor.
Oihtr Free Reports on
Sapslpa ReHaiaf Co, (Ailc for No.
TU-I88)
Anglo-American Oil (No. TIMS9)
Keystone Tire & Rubber Co, (No,
TIM90)
, How Sound Copper (No. TIM91)
and many other progressive
Industrial, Oil and Mining com
panies wnpso managements,
dividends, rapid d4vtaiMMt
Telephone or write for
Report TU-W
JONES & BAKER
8ECUH1T1ES
WlJet.r DUf- PailadtlpMa
'Phones Bsll, Walmt 1W
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