.u EVENING PUBLIC LEDGER PHILADELPHIA, TUESDAY, DECEMBER 31, 1918 :?i m "You Can Collect a Coupon Every Month by investing about $5,900 in the three notes and three bonds we have selected for this purpose. The aver age yield will be ap proximately 6.10. All six securities have been approved by leading bankers and arc repre sentative ot the best in vestments in the mar ket today. For particulars send for Letter No. E-15. Chandler & Company NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES ; ELOOD OF SELLING ORDERS GIVES LIFE TO SESSION IN NEW YORK Day Spent in Settlement of Speculative Accounts Short Covering Proceeds on Large Scale Confusion Ahout Price Movements WtMMIAtH Franklin Bank Building Philadelphia ruw York Boston Keystone Tire Port Lobos Petroleum Int'l Petroleum Oklahoma Producing Bullrtin on i!eque(7 QUNHATvUra 43 Exchange Placo New York 5.75 YIELD . The St 1'aul Vnlon Depot Co. Five Year BH Guaranteed Oohl hotes ufcld at present prices 6.75 oiTlftc Investment. These Kates are guaranteed m to principal and intcreit 6j nine Important Jiallroad Companies, Including the Northern 1'actflc and Great M rthcrn Systems. Orders solicited. "Reed A. Morgan & Co. ll'est r.nd Trust Illdff.. Phlla. Mtmlwri of tho Phlla Hto k Ilxcli. High Points in Today's Financial Navs Flood of sales and a pcncral settlement of speculative accounts marked the trading on the Xcw York Stock llxchangc. Unusual activitv charac terized transactions on the local exchange. Standard Oil Issues continue to attract the attention of Curb tradcts. Com is weak and sales are small. Cotton Is higher. Foreign exchange Is uninteresting. Bar silver Is unchanged In Xcio York and London. NEW YORK STOCK SALES New York, Dec. 31. Tlio day In tho stock market with which tho year ended, was marked by a general settlement of speculative accounts, with a flood of selling consisting of liquidation to establish losses In con nection with income tax liuymento, whllo nt tho same tlmo covering of shorts proceeded on u largo sculc, making a good deal of confusion about prlco movements In the first hour, but which developed in tho last half of tho day in a general upward movement, with violent advances In many stocks. Tho oil Issues were again tho most prominent features, with Mexi can Petroleum moving up 12 pointH to 170, whllo Texas Company ad vanced 10 points to 18G& and Hoyal Dutch made a gain of 7 points, selling ot 77 ex the CO per cent stock rights. United .States Steel common dropped to 93 and then advanced to 95i, whllo Baldwin Locomotlvo made a gain of moro than 2 points and tho copper stocks mado gains ranging from 1 to 2 points. Railroad Issues moved in tho name way, with many stock9 In that group advancing moro than 1 point. There wero almost sensational movements In tho Government bonds, tho fourth 4V4s, which jesterday sold at tho low record of 94, moving up to 96.20, with tho buying attributed to Government account, but niter reaching that high range tho price reacted to 94.80. Railway nnd other bonds wero Irrogulur, with tho local transporta tion issues advancing ftom 1 to moro than 2 points. BUSINESS IS.SMALL IN THE CORN MARKET Weakness in Cash Article In duces Fu thcr General Sell ing Oats Are Dull U. S. LIBERTY BONDS $S0, $100, $1000 BOUGHT. ROI.D AND WXOMMEND U mil INVIi.STUK.NT Newburger, Henderson X Loe'b 1410 CHIXTNIIT STREET Mraibrra N. V. riilla. Work Uirhancts riNANTIAT. Anmml Mfftlngn g THE 11.1NH O' .SUlWU AMJSU1LA. " rLliadelphla. December 0th 1813. TOe, Annual Meeting: of the Stockholder' tf this Hank will be held nt Its llankln House on Tuesday, January Htn. 101U. be tween twelve o'clock noon and une o'clock p. m.. lor the election of eighteen Directors o asrvw for the twnulnjc year. R R KWOMRH Oshlee tKS T1IK I'ENN SlUTt'AL LIFK INHUB K ANCK COMlN Phnarielphta. Decembr 31, 11118. The Annua Election for nine 'Irustern to tenre three years will ba held t the home onire of the company. In tho l'cnn Mutual Bulldlnr Sixth and Walnut ate.. Philadel phia, l'a.. on Mouilur, Janiiars 6. 11)10. be tween tbo tours of 10 a. m, anil s . m. john ittiMi'iinr.va. HTrMar n4 Trfasiirer. GRAIN 1IKI.T WKATHKR YOIIKCAST Chlciao, Dec 31. Illinois 1'rnlmlilT snnv north nml mill or tnow south to- nleht mill W lnrdnyi colder. MliMiurl fnow tonleht nj Vtrdne.iyijrt coltlrr tonight nnil Wrdnrnlnv. " WI.coni.ln I'naettleil tonlaht and Writ. nnilnr. snow Hurries tonleht! cold waye MlnnPMitn 1'nrt rlonrtr t?lllcht nnd WeilnecHvi rolilrr rnt tonleht. Inn a Mntv clOMdj and nnssttlsd to nlsht nnd Vnlnn-diyi cnlilr lonlnnti cold Hinn norl'ie-it nnd central. North IUKota Kulr tonlclit and Wed- "'soillli IMkota l'nlr tonleht, Weilnea il.iv iinKrttlrd. imwhly snow r.nd unrmer. Nrtim-I.il Probililr snow tonleht und " Kn"nnilProl.i.ly Bnow tonleM nnd WMMUnP"',.9nlht and Wednesday, ""w".!;!:-. "Settled (.nliht nnd Wed nradaji probably snow east. riilomto. Dec. 31 There was Bcn-ral clllng of corn todny duo to further weakness In the cash artlclo and med discussion of reports from "ft pshlnston . .i. .rr timt tho Department ot Justice would look upon concerted prlcc nxlng after tho first of the year a s In restraint of freo competition, and the market s.iBged after It hid started firm. rrolit-takine by shorts caused some recovery from the low point. Tho volume of business was not lnrgc. Oo ts wero dull and easy after a steady ... ti,.f. ivni little feature to tho dealings. Local Interests were the prin cipal operators, buying early but selling 3 Trade in the cashtartlclo was quiet. I.radlnu futures ranB'd as follans: Corn mew ueiivcryj COVERING MOVEMENT STRENGTHENS COTTON Large Exports Also Factor in Developing Firmness in Market lllKh I.OW Adams Ex .... 49 V4 48 Adv lluml prof 60 GO Alaska Old At. 3s 3U Alaska Juneau. 14 li Allls-Chal Co.. 33 3:, do prcf 83 83 Ajax Hub .... 67 6G AJax Rubber rt H4 Hi Am Agr Chm..l01 101 Am lleet Sugar. G1V4 61 Am Can 47H 46 do prcf .... 99 984 Am Car & Cdy. 93 914 Am Cotton Oil. 39',4 39 Am Kxpress... 83 SIM Am Illdo & L.. 13V 13 do prcf. 724 70 A Amcr Int Corp, BOVj 53 Asso Dry Goods 17 16 Am Ico Sec ... 40 U 391,, Am I.lnsccd .. 46V& 46 Am Ioco . ... 01 COU Am Malt 34 34 do prcf ... 46 43 Am Smelting . 76)4 7BH Am Smelt pf. .105 103 Asict.i Realiz'n. Am Snuff 101 103T Am Sum Tobac. 97 954 do nref !2 9'! Am Steel Pdry. 86 V4 8Si,4 Net ChKO, 5 Am Sugar .111 110 111 Closo 49 60 34 14 334 83 67 l!i 101 03 474 99 93 J4 39 83 13 72 D0 16 40 U 46 61 3i 45 76 1 103 2 104 97 92 85 1 Vi. 1 2 n 1 1 1 4- VI t 38! 73 a tKJ5NATIONAI. SECUHITV HANK. Philadelphia. Djc 11. 1D1S. The nnual rneetlns of th.. Stockholder will ba held at the llanklnc Ifouaa on Tues day, January 14, 1910. betwen the hours of 1 noon nnd ii. m for the election of Directors and tho transactlor. of euch other business as may come before the meetlnsr. W. II McKnu. Cashier. tlCSpTHBTRMVIUKNT LIFE AND TRUST & J'OMPANY OF rilll.,I)EM'lll.. nlnr,"v" .. "" V"".S"' Jiceuna or Tho Provident , Life . and Trust Company of Philadelphia .will bo held at "a offlce Fourth and Chestnut sts . on fieronil liny (Monday), the TlilrtrriitJi I)ny Sf 1"" Mdmh 'l "' O'clock a. m. An .Van 31a 70'i Oat's Jnn May . l.aru dm. .Tan ....4.00 Man 1M.10 ltlbs Jan .. ,:,. May . H.-'O Pork Jan . ii Mav . . 4'1.75 Did Open HI sh 1.44 1.45 1.3(1 1.37 Yest. Low Close clone anA 70 07 4 24 10 24.00 :., tin L'1.23 4S or. 44.10 23 r.n 21.02 2170 2.1 K3 47.75 43. oU 0Ti 70 23.50 24.02 ' 25 87 23 hS 47 75 43 50 C9 24.00 24.40 25 57 24 20 4S 00 43.87 COTTON HKLT WKATHLH CONDITIONH New Vork. Dec. 31. The follow Ins (eniperalurrn wero recorded In the cotton belt till., ninrnlnat Abilene. 32i Oklahoma Cltv. 2l I'ort Smith. IOi KnoxUllc anil AiiuuhIu. 4Z Atlnntii, I4 Mucmi. 4cti Nnklitlllr, 4Si ( liarleatnn. BOr Tlinniaoillle. Mvnnnnh nnd lMltnincton. 52 Tnmna. 51l Jackson- mc mill .iirinpnix, OUI I.IIIie HOCK 1UIII fihreeinrt. (lilt Virlburs nnd New Or IriuiK, ni (i ilvrMon and San Antonio. 04, nml Corpus I'hrlatl. OS. There mm .111 Inch of nrrrlpltatlon nt Athiiitm .10 nt Fort Smith- .1(1 nt Slirete norti .20 ut Nniihtll'ei .23 nt Oklahoma C'ltyi 1.48 at Memphis, und 1.94 nt Little Kock. New York, Dec. 31. LarRp exports for the day and covering- for over New Year's strengthened cotton today after It had developed weakness In tho forenoon. Local traders wero not much Impres sed by statements that a feeling existed In banking circles that there would be diniculty In financing foreign shipments of the staplo If Government guarantees were terminated. it wnsVbellovcd that tho need of cot ton abroad Is so urgent that money re quirements will not bo allowed to stand In the way of forwarding every bale for which space on vessels can bo found. Dig exports for day, totaling 08,000 bales, promoted Increased buying for long account and an advanco to the best level of the session on near months. Tho close was firm at a net advance of 15 to 50 points. .tl Coast Line. 100 100 100 Am Tel & Tel. 101 99 100 Am Tobacco ..194 194 194 do pref new. 100 100 100 Am Wool 61 604 51 Am AVtg Ppr pt 28 2714 27 Am Zinc & Ixl. 11 11 11 U Am Z & Ld pr. 43 40 43 Anaconda .... 604 59 60 AtchiMin 934 91 93 do prcf 88 86 88 All Ulrm & Atl 7 7 -7 Atl (lulf & W 1.108 107 108 do prcf 67 67 67 Bnldw Loco Co 75 73 7 Unit & Ohio... 49T4 48 49 do pref 55 61 55 Barrett Co ...102 101 102 neth Steel 614 60 614 do B 61", 60 01 do 8 p c pf,.10l 104 104 Bklyn It T ..27 26 26 Bklyn Un Gas 82 82 82 Booth Klsh Co 224 22 224 Butto Cop.& 55 6 5 5 Brunswick ... 9 9 9 Butto & S Cop 17 16 17 Calumet & Ariz 64 61 64 Cul Petroleum. 21 '21 21 do pref 63 63 63 Cal Packing Co 47 47 47 Can Pao lfil) 159 159 Caso J I pr .. 91 91 91 Cert Prod 1st p 71 71 71 Cent Leather... 60 68 60 Cerro do Pasco 33 33 33 Chandler Mot.. 101 101 101 Ches & Ohio .. 57 55 57 Chi Gt West.. 8 7 7T4 do nref 25 23 25 Chic JI & S P. 39 38 do pref .... 73 70 Chi & Northw. 96 94 UIUS P tc. 25 21 do 6 pc pf . . . 67 66 C Itl&P 7 pc pf 80 78 C C C&St L... 34 34 Chile Copper... 18 17 Chlno Con Cop. 34 32 Col Fuel & Iron 37 U 30 Col and Lo 20 20 21) Col Gas & Ulec 43 42 42?. Consol Gas ... 97 95 96 Cont Can 69 68 68 Corn Products.. 48 47 48 do pref , 104 103 104 Crucible Steel. 58 65, 58 do pref ... 91 89 91 Cuba Cano S.. 29 29 29 do pref 79 78 79 iei & ttuuson.llM iui 1U4 Hen & It G nf 7U GU 0.i Dome Mines... 11 11 11 uist eis sec. iJ'i IjI 'i Grandby Mining 78 78 uriat Nrtn pr. as in Ot Nth Ore sbs. 32 31 Greene-Can Cop 45 44 Gulf States Stl. 61 69 do 1st prcf.. 93 93 k Haskl & Barker 45 45 Illinois Central 96 96 Int Agrlcul ... 10 10 do pref 48 47 Inspiration Cop 40 45 Interb-Cons C. 6 4 do pref 18 17 Eric gen lieu.. 65 63 L'rlo 17 16 do 1st pf 28 26 do 2d pref.. 20 20 Gaston Wins.. 30 29 Gen Cigar Co. 47 47 Gen Kite Co.. 160 148 Gen Motors ...132 129 do pref .... 81 80 Goodlier, n F. 66 64 In llv Ci (nw).116 111 do nrof 116 110 Int Mer Mar.. 26 do prcf 113 J3 i4 H "4 4 1 H- 1 w 1 -1 :-2 4-2 --1T4 l tf i 1 tl -- 4- -- -1-3 1 3 2 1 1 73 95 4-1V4 25 4- 67 1 80 34 18 33 1 36 High V C C & St L 40 Pitts & West. 38 do pref ... 81 Plercc-Arrow. . 43 Pierce Oil .... 16 I'ltts Coal ... 46 Pitta Steel pf. 90 Pressed S C . 62 Pullman P C..119. P.y Steel Spring 70T1 uo prci iuo Hay Con Coll.. 20 Heading 82 Heading 2d pf 36 Hep Iron & Stl. 75 Hoyal Dutch . 70 Savago Arms,. 63 Saxon Motors.. 7 St Ij & S P. .. 12 do pref .... 24 Sca'd Air Lino. 9 do pref 17 Net Ixiw Close chee, 48 ,46 4 37 38 U 81 81 .. 42 42 -f 16 16 4- '.4 40 46 90 90 .. ., 61 Ot 1 115 119 4-3 , 76 76 --1 19T4 20 -- 80 82 2.. 36 36 74 ro 12 24 8 17 36 7o Vt. ,t'tt 75 22 6Sg H 12 24 2 8 .. 17 Sears Hoebuck.176 176 170 Sbattuek Arls."13 13 Sl-Sh i:tl & I.. 60 50 Sinclair Oil .. 34 32 South Pao ...102 102 South It It.... 30 29 do prcf .... 70 70 Studcbaker .... 51 60 do pref .... 92 92 Tcnn C & C. 13 12 Texas & Pao.. 29 27 Texas Co ....186 170 do rts 17 16 Third Ave 11 It 13 12 Tobac Prod. j... 81 80 Trunsue Wlms. 37 37 Twin City It T 36 34 Un Bag & Pap. 75 76 Union Pacific. 130ft 128 do pref 73 71 Unl Alloy Steel 38 37 Unl Clg Stores. 108 107 United Drug.. 90 90 do pref 60 5(1 United Fruit.. 160 166 Unl Hy Invest 7 7 do prcf 15 13 US C Ir P&Fpf 43 43 V. U S Ind A 103 101 U 8 Itubber .. 80 79 do prcf 110 10o 13 50 34 101 29 70 51 92 13 28 184 17 13 81 37 36 75 129 71 38 108 90 6 166 7 15 43 103 80 110 1V4 ?s ft 4-1 4-8' 2 1 1 3 1 1 -- T4 174 1 4-1 . i USSm&It... 15 44 45 4-1 U H Steel 95 93 9o ft do pref 113 112 H3ft Utah Conner Utoh Sec Corp. Va Car-Chcm. . Wabash do pref A . . uo pror ii 74 13w 61T4 8V4 32 19 I 'l I .4. -r J va 13 13 51 61 4- Vt 7 7 31 31 19 19 , 65 66 2 10 11 19 19 61 01ft 86 80 40 41 .. 200 200 S 8 ft, 42 12 24 20 1 87 87 ft 73 73 32 33 1 .127 127 127 M 54 54 54 1 WpIIm Farco K 60 West Mil 11 West Pacific.. VJ do pref .... 01 West Un Tel.. 80 West Mfg ... 42 Weyman Brut. 200 Wheel & L K. 9 White Motors . 43 Willy.i-Ovrmd. 26 do pref .... 88 Wilbon Co 73 Wli Central . 33 Woolnorth . Worth I & Total pales, 010,500 shares, compared with 1.11i1,7imi shares ytntcrilay; thus far this mnk, LMll,l!u0 shares; same period lust week. 7SD.U0U shares. yesterday's cioso election of fll'n Directors tn ..,--..."" yeara will ho h-w between tha houfi of 10 a, m. and 2 p. m. LKONARD C. ABIITON. wecreiary. fOTCOKN KXCHANOn NATIONAL bank Ch.stnut street at Second street The annual meeting of tho sharehn .w. of this banlc for the election of flr?cto" 'n ?or the n"ulnB vear. and for such mherujuslnesa as may come before them will be, held at th; banklnu house on Tiiesday. January 14. 1911). between the hours of it a. m. and 13 o'clock noon. ur" ot XI N. W. COItSON. Cashle r. ,Xg BOUnnVAHK NATIONAL HANK "-! , rhlladelphla. I'a. ?Tbe annual election for Directors of this ink will be held ut tho linnklnV? Ilousa m usdy. January 14, 10111. between the bours of 10 o'clock um and 12 n'eio?k m! W. J. BTUINMAN. Cashier. Annual Klcrtlona toSE LEBANON VALLEV SAVINtlH AND u1 1W)ANiAiSOCIATION. Notlea Is hereby elven that the snnusi WiV'J",?' ,'ne toclihnldera of the rjbannri i! '5 .B!.,I"V! u"i' '-""O Assoelal oh? " f E?.i,5?,phl' rn." r("L ,no Purpose of "ret ina; directors ror the ensuhia .ir VW umendlne tho byUw, Vnrt the transa"uonnf auch nthr business r.s may mbViSSS i. V. K. STEVr.Vfl. Mecretary. rhllad.lphla, DecVemTbe?NlVSlll8NK The Annual Election for Directors will h held at the Ilanklnc Hou.J on TutZuy. "Jan! nary 14, 1019. between tha houra nf lV noon and 1 p. m ItOHACR FOIlTKic'lB Pas LIVESTOCK QUOTATIONS Chicago. Deo, HI. 110(13 BecelPts B7 . W0 head,. Mo.lly B to loo mora ha yli. Urday'; ceneral tride. Weighty butcher!' Brad favored. Top, (IR 'nulk, 11740 17.831 heayy lutchtr,T17.8SlHi medium Und lUht butchers. 17.0J4l7,di). iinm .IIO.OOM18.70j heavy packlne. !o.BblL', fnedlam and llcht packing, I17.40U17 os! throwouts. ll8.7010.8o;Vls, iood fo choice, $14,5U1S.B0. ' ' ' ooa ,0 CATTLK rtectlpts, 23.000, bead. Harlv tales steady, medium altera dull, surmiv lan atllntf In. fall... .- ...V. . VPIY 'iKTi uttYt? iood. choic, lWvZ,!mi?Srt; 19,78; common and medium fu.TKfAitit tutctitr htlftw. fB.40CT14.7ar cow iSso BIlBElwilevelptsSLOoq head, Steady. WWHirhL r,( Dec, 81 HOOS-na. ceilKs. HHHP.fcead. Market steady, llravtea jwwiwl ht yorkers, m.iii; ptxi, , 1 J."u "4"BBPANI IAMI)8lteeent, Joo head Msjjet tady. Top-aheep. UoJaVtvP Iambi, JWB tnM MHWt m f'flv. n.f flf. nilpr n. T5:ooohea7-6t.;;iyTaA.n-vw-"''' Receipts, 17,000 htid. Uteady- to .. BOOO head. B(fdr. r" iflrWan-e-BfOiilpti, MflMHti, ,1 a i 1 l-.i 1 DIVIDENDS DECLARED Vnrlhern Btates Power Cnmpriny. nuar terlv of 1 per cent, pavable January 20 In stork at record December 31. w'Stern Htntea aas nnd Uleetrlc Company. f Delaware, nunrtcrly nf per cent on preferred, pavublo January 15 to stock of reNaruonar'ucorrico Company , s;.ml-e nnual of M , per cent nnd an extra of 1 per cent on rommon. waulB tu I"""0''1"" of Ivcor'1 January 7. NEW YORK COFFEE MARKET New York, Dec. 31 The colTeo mar ket wan nervous nnd tho price move ments Irreirular this mornlne. Fluctun tlons ranueU from 10 to 15 points, tlrst advancing then decllnlnK. Local Intcresta do not appear to be accuutomed to tho prtscnt hlRh price levels nnd hesitate to tnk the buying side although prices hero are tho lowest In Oie world and the .piestlon of sup nlUH of coffee In this country Is re tarded hy some as critical. The most recent linn offers from Brail! were unchanged to about 20 points lower and the arly cables reported n decline In the Hlo spot tmintet of 275 rels and In Santo, of 200 n-ls, while futures udvanced 50 to 125 rels. Open May 15.3 July 15 5.J September 15.3 December. 16 23 HlKh 15.75 13.70 15.110 1S.30 I.OW ir. 73 15.55 15 40 13.13 Close 15.75 15.70 15 53 13 23 Test, close 15.115 15.50 15. nil 15,2.1 LOCAL MEAT MARKET Tho followlne report of the fresh meat traJa In Philadelphia Is furnished by the local livestock unit meat office of tho Hu reeu of Markets. United States Department 0,FnBSIIUllEEir Receipts lighten market firm at yesterday's advances demund llht CVHTElSn8 Il'ecelpta HM; market firm on Kood lKf at 23 to 2S; steady on poorer !!!;, Jit to I20i demand IlKht. COWS Ilecelpts inixleratei market on cows slow at H to ISO) demand llsht. C VEAL ItecelPts of heavy calvea moder .tei llaht veal scarcai market steady ut SIS to 1201 lemand only fair. T.onif ltecelpts decreasing; market active .n'd U hlshVr at S27 to 33i demand fain weather favorably. GOVERNMENT BONDS ?'. "Mtti.p30......... S5SIS&5iv::::::: 4s. coupon. 1U2J 9s, Mistered 1940 f-'anarA. rri'.t.VedV Hih'. JRJSS A resUtored. JOSH. Panama 3, reulstered. 1001. Panama Si. coupon ma OH uaj Mill, sa 83 08 08 HH Asked 108U 1Q0U. E. W. DIlss Company Pays Extra New York, Dec. 31. Tha'K. W. Bliss Company .declared the usual quarterly dividend of IVi per cent (62 cents) on; the common 'stock and an extra dividend of 10 per cent 5), payable January 1 to stock of record December 30. Also rcsular quarterly dividend of 2 jier cent (1) on the preferred, payable on the same date. Hefinod Sugars Unchanged w.i Vaj-li. Dec SL Penned suaars nrb unchiim,S , ta,lp J per oent for January.. March .. May ... July ... Auatlst. .. October. 20.30 J7.H.1 2(1. H5 20.03 24.115 23.00 Today's open Hlch :u 30 us in 27.115 211 15 23'. 03 211.110 2N 30 27 .'- 20.4.1 23.30 24.00 I.OW 2s.no 2T.n0 2(1.5.1 23.70 25 23 23.43 Close 2U.KH 2S.25 27.17 211.33 New York Bonds Hldi Low Closo 4000 Alaska Cold cv Cs Per A. 32 14 32 ',i 32 i 0000 do Cs Her B. 32 32 32 42000AngIo-Fr 5s. .. 97',i 07 97',i 62000 Am For Sec 5s 83 & D0 99 4000 Am T & T Os. 92 V4 92 VI 92 V4 2000 Am Tel iv 4'i,s 8Ci 25000 Am T & T Os. 102 'i IDOO Armr Co' 4s. 88 ?5000 Atchison 4s .. 81 13000 Atl Co Line 4s 85 8000 B & O ,3H.. SOU 1O000 do 5s 78 Va 2000 do 4s 81V4 4000 do cv 4s. . 80 35000 Hkn It T 7s. . 85 4000 Bordeaux C3..101',i 5000 Chile fis ...... 83 18000 Chllo Copper7s.l08 2000ChesfiO cv 4 Ha 81U 15000 do cv 5s 88 lOOOChl&Alton 3fes. 40 35000 Chi Il&Q reg 4s 95H 23000 C M&StPr 4Hs72 6000 do ov 5s.,., 80 0000 Col & Houth 4s G3 2000 City Paris Cs. 99 2000 Dom of Can 21s 97 5000 Dom of Can 31a 97 1000 do 26s 98 2000 Erie cv 4s Hr A 47 59000 Krh Bep 58.. 104 4000 II & M In 6s.. 17 78000 Into Met 4V,H. 42 5000 Inter Agr 5s.. 70j 11000 Kan Cy Ter 4s 80 V4 10000 Lit Sh deb 4s 1931 88U 10000 Llg & M T 78.11314 380000 Lib Bond 3Hs 99.00 149000 do cv 43,... 93,20 12000 do 1st .8.. 93.00 3942000 do 4 Vis 90.42 38000 do 1st 4iS. 90,60 3689000 do 2d 4 Us, 95.00 9024000 do 4th 4Us. 90.20 4000 Lyons Cs ,. ,101V lOIVs 2000 Leh V rets 6a.l03?. 102 6, 10000 MIdvola 6s.... 80 86 2000 Mo Pao gen 4a 02 02 15000 N YC & a 4s. 84 , 84 ii 22000 do Cs 100 98 .1000 do 4 Ws .... 82 82 0000 N Y C 4 lis 60s 97 Vi 1000 do 4 Vis COs. 99 Vi 27000 N Y KWy 4S.. 43 'A ti.nnn XT V Ti..... I. iniir tiUVUU iv in J uo. booo ror pao t 1000 do ?s ... 1000 Ore Short L 5s 99 4000 Pao Tel 5s ... 95 2000 1enna 4s 1948 87 VI 30000 do gn ct 4V4b 89 U 11000 Plcreo Oil 20B.100 20000 Heading 4s .. 85ft 7000SeabAL adj Es,62V 10000 do rfd 4s ... 57? SBUOUfcio 1'nc cv is. 85' 67000 do CV 68 ..,.103 220(1(1 do riu is,., o.uuuoo nwy is,, ovi 14000 do Ea 96 1000 Texas Co Cs,,10J 40000 Third Ave 4s, 53 25000 do adj 6s.,.. 29V-i 64000 U S Bub 5s.. 801 62000 if S Steel B f 6h 99K 8000 Union Pact 6s.. 104 V4 104 J12000U ICof (1 n&i DVlS iVlU....100 9 00000 do new 1919.101 V4 101 8000 do 6V4S.1921 98 98 16000 do 1937 ....101I 101 6000 Va CarCh 6S.1Q1VJ 101 Total sales. 2T.U13,O001 101 102 SC-i 80") 8 Hi 84 85 85 89V4 89 78V4 73V 80 80? 78 A 80 84 85 101 Vi 101" 83 83 10G 108 81H 81V 88 88 40 40 95 95 70 72 80 80 02 63 994 093 97 V4 97' 97 97' 96 47 101 17 40Vj 76 80 V4 88 Vi 113 99.50 92.90 93.00 95.70 96.60 94.00 94.50 97 Vi 00 'J a. ion 58. 12 ... 84V4 ... 60V5 'II 103 103 51 51 28 Vi 28 U 86 86 99 Vi 99 l47i it 10 H 98V4 lOl'i 147,134,000 yesterday: thus far this week, iit,ni,wvi iiiq iciiuu fast wees, 129,000, compared with vees (30, CHICAGO BUTTEIl ANP EGGS srVs.i.J T-aJ. fH l OllWwfj. T.-l-l Mill, r.tfsrf eaUM ltah,t. ftflea wTw&l K.t'ra, (iOwjd atr: 4nts, ' offlosrof umb rttmr "will ) clostwi at o,i,J - , WfVB. navF 7(pfv en. y,w ianuiisyui,. .s uo, uncaaiujw. 26 112 30 Vi 01 V, 31 9CVi 70 Vi 27 Vi 18 66H 31 29 87 GO 94 18 63 20 219 45 155 Int Paper 30 do pref sta.. 02 Vi Int NIckr-l 32 do pref 96 Vi Inter It T pf . . 72 V3 Jewell Tea .... 30 Ivan City So.. 18Vi Kelly-Spring . . 69 'A Kcnnecott Cop. 32 Klsley Wheel.. 29 uo prer ( Lack Steel 07 Laclede flas pf. 94 L K & W pref. 18 Ihlgh Valley. 65 Leo Hub & Tiro 21 Llg& Myers... 220 Loose Wiles ... 45 Lorlllard P 165 Ixju & N'ash...ll8i 118VI Marrock pref.. 112 112 Mnnhattan Kle 85 84 Max Motor 28 27 do 1st pref. . 50 60 do 2d picf... 19 18 Mex Petrol.... 179 107 do pref 107 107 Miami Con Cop 22 22 Mid vale Steel .43 41 M & St L new. 11 11 M SP & SSt M 93 Vi 93 i do prcf 106 Vi- 106 M K & Texas. 4 4 0 dpref ... 8 8 Missouri Pac . 25 24 do prcf 53 Vi 53 Nat Acme ... 27 27 Nat Con & Cab 16 14 Nat Kn & Stpd47 47 National Lead. V6 65 Nev Con Con. 17 17 N O, Tex & M. 31 31 N Y Air Brake 99 98 New York Con. 75 73 NYC&StL 2d P 41 41 N Y N II & II 32 31 N Y O & W . 20 20 Norf & South... 19 19 Norf & West .108 10Vl North Amcrt.. 46 44 North Pao .... 94 93 Nova Scotia Stl 62 62 Ohio flan 44 43 Ohio Fuel Sup 45 42 Ontnrlo Silver. 7 7 Owens Bot.... 49 44 Pacific Mnll .. 38 37 Pan-Am Pet .. 70 65 do pref ...121 115 Perina It It.... 44 43 Peo aas & C. 49 47 Pere Mara ... 13 12 do pr pref. .. 59 59 PliIJa Co .... 31 31 51 78 95 31 41 01 93 45 90 10 48 40 4 18 65 16 27 20 30 47 100 i 132 81 56 115 116 26 112 30 62 32 96 Vi 72 30 18 09 31 29 87 67, 94 18 55 21 219 45 155 118Vi 112 86 28 50 19 179 107 22- 43 11 03 100 4 .sa 63 27 1 --1 -- 1 2V4 4- K 1, ' 4 I 1 Vi K, 2 1 4- 1 -- --1 4- --1 --1 --3 -- ::J - V t 4 1 & -- --1 4- 5 4- 4- 1 1 nx-dlvldeml Ohio Purl. IVi 1 Vlrclnla Cliomtcui prcf.. 2, Detroit Hdlsnn. 2: Fed eral Mlnlna; prcf.. H4 , International Aerl- ultural i'n prcf.. Hi: Central and South American Telephone, l'i . V.mlnlloU9e Co. t. Ves'.lntthouae 1st pref. 1 Associated Oil. IVi ; Alll'Chalmers pref . 2Vj ; Cnnadj Houtli'Tn, l'i ; l'aciilc r'o.ist prof.. IVi . Wcsiliuhousc Air llr.ikc l : Atcnlson ifref 2'1 Shatluck Arizona, 'i 1 U a, Alcohol prtf, H4I Transue-wllllams, l',i ; ltoyal Dutch, 5U. MONEY-LENDING RATES Ni:V YOHK Money on call, mixed collateral, ruled all day at 6 per cent, and on Industrials nt 6 per cent. Money was quoted today at 0ig6 per cent on call and at 6 5 per cent for thirty and ninety days on good mixed nnd industrial collateral alike. Business was at a minimum. Prime mercantile paper Is In moder ate supply at tho recent Io,w quotations of 5',it('6 per cent. Prime bank acceptances aro unchang ed at 4 5-16C4 3-10 per cent for nrlmo memocr diiis, iv 1 Vi Per cent ror eli gible nonmembers nnd 5 4 per cent for Incliglbles. Call loans on nrlmo bank nccentnnces nrc unchanged at 4 per cent. PIIII.AIlKI.rilIA Call. 0 ner cent: time, E0 per cent. Commercial pa por, threo to six months, 5 06 per cent; ix montns, o per cent. LONDON Money Is quoted nt 3 per cent. Discount ratrB, short and three months' bills, 3 17-32 per cent. I Philadelphia Stocks 400 Alaska J. 1 28 Am aas.. 63 10 Am n pf 70 100 Anaconda 60 COO Bald Loo 75 26 Brill J O 20 100 Can Paa.163 lOOCItl&p ,7 ' P o pf 78 62 C Kx Nat Uk war.130 Low 1 65 70 60 74 20 169 78 130 100 Chllo Cop 17 17 425Kleo Stor 63 62 1200 Krle 16 405 den Asph 39 60 do pref. '77 64 Ins C N A 28 100 Insp Cop. 45 249Kcnno C. 32 31 Key T Co pref, ... 49 1110 Lk Sup C 17 300 Leh Nav. 71 572 Leh Val. 65 llSSMIdvalc.. 43 630 Mo Pac. 24 2128 Penna Hit 44 1135PhllaElcc 25 1816 P UTtc 26 100 Ilnv Cons 20 160 Beading.. 82 200 Sup Stl.. 36 2735 Ton Bel.. 2 100 Ton Mln. 3 200 Un It pf. 14 3525 Un Tract 39 1630 U O I . 72 1075 do cash 72 1335 US Steel. 95 60 Westing. 41 65 W J & H. 45 20 W Cramp 80 16 38 77 28 49 17 71 54 41 24 24 26 20 Vi 81 35 2 3 14 38 70 71 94 41 46 10 CI010 ' 1 65 70 60 75 20 169 78 130 17 62 16 39 77 28 45 31 49 17 71 55 43 24 44 Zh Net chs-e. 9 Jsl 2 1 2--- -- 4- 1 J 2 4- tfx dividend except for caBh. 26 20 4- Vi HZ -t-l'S 36 '.. 4, 2 3 14 39 71 71 95 41 45 80 1 Total sales. 21,080 shares, compared with 10.7110 shares yesterday: thus far thin week. 43.N71I shares: same period last week. 7820 shares. IH1NI1S High Low t $2000 Bush Ter Bldg 5s 81 6000 Den i. Illn Or 1st ref 5s.. 64 2900 Elec& Peo. Tr 4s... 70 5000 Interb Cons 5s. 70 Vi 2000 Hud & M ref 5s . 85 1000 Kan C S lstref 5s 83 2850 Lib I'nn.ls 3d 4 Vis 90.00 9 iuuo uo 4tn ' 4 is ..94.80 5000 Mo Pao gen 4s.. C3 10000 Pa Co Con 4s 'CO 95 6000 do temp ctsls 98 Vi 6000 Phlla P.lec 1st 5s.. 94 8000 Beading gen 4s. 85 Total sales. $73,830. compared with 4326,. 00U yesterday, thus far this week. $30U,8S0: samo period last week, $(!.', 300. Local Bid and Ashed 81 54 70 70 85 83 50 94,80 63 Closo chge. 81 64 70 70 85 83 96.00 22 94.80 .64 63 95 95 1 98 98 .. 94 94 85 8B HOME SHARES LEADERS IN BUSY SESSION ON THE LOCAL EXCHANGE Philadelphia Electric Gains Fractionally Tonopah Belmont Leads List in Mattel' of Sales Baldwin Locomotive Up Bond Sectipn Also Active I - ( i Thcro was unusual activity on the Philadelphia Stock Exchange today, s A considerable number of different Issues appearing' on tho tapo immediately after tho opening- gavo promise of a renewal of yesterday's busy session, and as tho day progressed tho list became even broader. Homo shares wero tho leaders in tho trading of tho day, Philadelphia: Electric on sales of something moro than a thousand shares gained frac tionally, as did also tho shares of tho United Gas Improvement Company. Philadelphia Rapid Transit trust certificates and Union Traction wcrp both lower. Tonopali-Bolmont led tho list In tho matter of sales and lost a fraction Tonopah Mining, on limited trading, was unchanged. Tho bond section was also very activo, without any startling, changes mado in prices. Tho Philadelphia and Beading Hallway reports to tho Interstato Com mcrco Commission for tho month of November gross receipts of $0,810,740. against $5,874,872 tho snmo month last year, Tho increase Is $935,868. Net operating incomo for tho month decreased $627,147. Eleven months' grosc was $73,140,301, a gain over tho same period last year of $11,427,749. Not operating Incomo for tho cloven months decreased $5,105,999. Hurt & fJusa. t c. . do prefirrid .. Drill, J u Itajdwin Uliitrlc Htorauo Ueneral Asphalt do pieforred .. Ke stone 'TelH .. do preferred Tuday Hid Asked 73 03 74K T.2V4 3:i 711 10 40 74 n.i 21 7S 33 40 77 11 no Yesterday Hid Asked Lake Sup Corn .. 17V 17V4 Lehlah NaxlKatlon.. TI1V4 71Vi Lehluh VnlKy .... MV4 03U Tr... 14 .... 23V4 .. 2.'i 44ii 44 43 44 .... 23 2.V,4 24 23 LoMith Valley Tr. aa preierred Tcnnsylvanli Phi a Klectrlc Phlla Co do 3 p c pref do 0 p c prcf Thlla 11 T t c... 20' Heading 82 lonop.ih lle.mont Tonopan .Minintr . . 2 Union Traction .... 3SVi 11 u 1 71 II 3 Htcel fi.'i Wm Crnmp & 80ns. so York Itnllwas .. 7'i do preferred .... 31 Vi 73 53 73 02 Vi 38 7(1 111 47 17V1 llll r.3 14 74 n3 73Vi .13 :iu 77 11 4U 17 71 01 1 .'III llll m J n.i V 82 2(1 -ye 04 ;tvi 31 "lie ill .10 72 4Vi 82 WE RECOMMEND THE PURCHASE OF LIBERTY LOAN 4H BONDS AT PRESENT MARKET PRICES flat, 414 4 Callable (932 1927 1933 Due (947 1942 1938 J 928 Aporox. Yield If Called, or If Selt'.ni at Par, on Callable Date 4.60 4.95 4.70 Approx. Yield to Maturity 4.46 4.60 4.65 4.80 SCO, 3100, 1600 AND :1000 DENOMINATIONS FULL INFORMATION REGARDING THE TAX FEATURES OF THE LIBERTY LOAN BOND ISSUES WILL BE FURNISHED UPON REQUEST MONTGOMERY & CO. 133 SOUTH 4TH STREET PHILADELPHIA 14 WAU. STREET NEW YORK OOVERNSIENT SECCRITIKS DBFAIITMENT TELEPHONES, HULL. LOMHAItD 4330) KEYHTO.NIC, MAIN 2384 iBVi y 47 4-lVi 60 3i 17 .. 31 09 Vi 7494 1 41 3i 31 Vi 20 13 108 2Vi 44T4 3 T 5 3H 4 62 Vi l 49 38 09 U 119 44A 48 13 Vi 69 31H FOREIPN EXCHANGE New Vork, Dec. 31. The feature of n, dull fnrelen exchnnco mnrket In the early dcallnga today was a louer rnngo in nil ncutraia. ituuio currency -was weak. Quotations were: Demand eterllnir 4.7B 13-1C, cables 4.70 9-lfl. Sixty-day bills, nominally. 4.73V4 I ninety-day bills 4.71V4. Franc cables B.44, checks B.45Vi. Llro cables 6.3E. checks 0,37. Swiss cables 4.80Vi. checks 4.81. diMMer cables 429;. checks 42VJ. Pesetas cables 20.13, checks 20 05. .Stockholm cables 29V1. checks 29.00. Chrlstlanla cables 28"i. checks 2774. rvwenhajren cables 27Vi, checks 20T4. Ilublo currency Is weak this morn InR at 14?ii a new low on this movement. Reserve Hanks' Discount Roles Olllclal discount rates at tho twelve Fedcrnl Reserve hanks wero as follows: (Tho first column gives tho rates foi all periods up to and Including a fifteen day maturity, the second ,for a period of sixteen to ninety days. The thlro and fourth columns are tho rates lor rediscounts of collateral loans secured by Government bonds or notes.) Com'l paper CJov. paper 1(1 to uo 1(1 tn on 15 day days IB days days 4 44? 4 4',i Iloston . . . Nw York . Philadelphia Cleveland Hlchmond . Atlanta .... Chicago .St. Louis .... Minneapolis . . Han Francisco Kansas City . Dallas r 4 k 1 4 4 4 4 4 4 JIB 4 8 M 4H OS 4 4 4i 4Vi 48 PHILA. INACTIVE STOCKS Followlne; arc quotations for Inactive stocks listed In tho I'hlladolnlila Stock Exchange and In which there were no 1 transactions today. The prlco elvcn 'a thecInet p evlous close: 1 Acmo Tea co 79 L 11 Trans pr Z5 Am Stores pf 90 A Q wnr ... 7V4 Am Mllllnir.. 10Vi Am Strs pf . . 90 Huff & Sus pf B3 Huff & Sus tc 73 Brill J O pf. 70 Cambria Iron. 39 Vi Cambria SteelUS Cataw 1st pf 02 Cataw 2d pf 54 Cnt Pass Rys.109 Con Trac N J 02 Fth S N D.180 Hunt & B T 10 Ht & II T pf 10 Little Scliuvl 48 Lit Bros .... 25H Mlnehlll .... 50 North Central 76 No th Penna. 94 P N Bk pf..275 Penna Salt . . 85 Phlla Co cm Pf 32 Phlla Kl ww 2V4 Phlla & West 8 Phlla Trac?.. 71 Ilwys Gen . . 2 Unl Cos N J.190 L'n Pss nwys.150 War I & S.. 8Vi West Coal... 75JJ Cotton Buyers and Sellers New York, Dec. 31. January Mitch ell and Morrison bid; Abraham. Waters and Schanz offered. February Hnrtcorn bid ; .Rosenberg and SlBel offered. March Bnrtlett, Cone, Hopkins, a, Gumocns and Mitchell bid; Munds. Hy mans, Johnston, Rountrco and OIITord offered. May Kleffcr, Orvls, MaDougal, Mar tin, Abraham, G. GumoenH, Cone, Beardsley. Wenman nnd Rels bid; KrookB, Glfford, W, Gumoens, Hopkins, Morrison MeGeo and Russell offered. July Geer Rels, Kleffcr nml Royce bind; Burnett, Montgomery nnd Deacon offered. October Geer and Slsol bid; Wenman and Ilymnn offered. BAR SILVER a I'tt,t ' 1018 Today Ves, Tues. With Low New T'k feta).10IU loivl 101V4 lofvi. 81(4 Ixindon (peel . 4ft 48 IK,". 4H V'2 at. Louis 27.473.203 Holiday 2TT8T7.004 rJIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIH 1 A Coupon Every Month By investing in the following bonds the purchaser E E will receive a coupon every month in the year. S 6 Income The securities are all obligations of well-known cor porations. In every instance, we believe, they can bo readily converted into cash. Interest. OHIO STATE TELEPHONE CO. Consol. & Ref. Mtge., due 1944 BRADEN COPPER MINES CO. Sinking Fund Bonds, due 1931 EASTERN PETROLEUM PAYN ISSUE. First Lien. Coll. Tr. due 1028 60 60 KINGSPORT UTILITIES, INC. First Mortgage, due 1937 LOGAN COUNTY LT. & PR. CO. First Mprtgage, due 1934 PENNSYLVANIA RAILROAD CO. General Mortgage, due 1903 70 60 60 50 Payable Jan.-i July Feb. & Aug. Mar. & Sept. Apr. & Oct. May & Nov. June &. Dec. ss $350 Tax Refundable in Pennsylvania Free of Pennsylvania State Tax Yearly A purchase of'the above bonds at present market prices would cost approximately $5700. s DESCRIPTIVE CIRCULARS ON BEQUEST West & Go. E BANKERS 14X7 CHESTNUT STREET E ur.,.,),. I few v,rk Stock KxrJinnice E Members I i.j,delnlila Stock Kchantte riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiE $hi BANK CLEARINGS Hank clcnrlnes today compared with cor responding day Inst two years I 1018 UU7 1010 rhlla,. 10.1.31(1,430 Holiday 140,207,82.1 NV ..1,013,40.1,770. Holiday 4Tt.1lo1t.n32 Iloston.. m.r.iio.iu Holiday 32.1.1(1, nvi llaltlmoro 14,101,800 Holiday 7,01A,87A Chicago., 1)1.43.1,3,13 Holiday 80.887,811) The Investment The GUARANTEED MORTGAGE is the investment of, unvarying value.- Being absolutely non-speculative, it is never necessary to "charge off" losses on account of a declining market. Both principal and interest are guaran teed by this Company with a record of eleven and one-half years' business, during which time interest payments have never been a day late, nor has a dollar of principal ever been lost by a client. PHILADELPHIA COMPANY for GUARANTEEING MORTGAGES Land Titla Building Pbiudt.iptu Mfss aakM.imiMii.iwi, 11 1 H 1 1 ..lsViiiii TAX REFUND IN MASSACHUSETTS AND PENNSYLVANIA $700,000 MUNBCIIPAL SEL3V8GE COMPANY Ten Year Six Percent Debenture Bonds Duted Dec. 01g Doe Dee, 1, 1118" JJfflKfi si Callablo at 101 and Intorott on any Interest Data. The Company pays tho Normal Federal Incomo Tax Up to 4 The proceeds of .this issue are to be used to refund notes outstanding and pay for additions and improvements to properties, to handle new business, to increase earnings. The Municipal Service Compaby reports gross earnings ofl.&tf.OSpZ for, the year ending Sept.' 30. 1918. Of this amoust, after all prior charges including bond interest, there is available for interest on, notes and debentures $242,011.22, while the interest', on these debentures and upon notes maturing in 1920 is but $56,880, which shows their com- , bined interest requirement about four and a half times earned. The Municipal Service Company is the owner of a majority of the bonds and of substantially all the stoqks of constituent companies, which have been in successful operation for periods up to twenty-five years, in seventeen communities in five states, furnishing light and power and traction. The company serves a population approximating- uUUsUUU, The valuation of the various properties'is given by Messrs. Day & Zimmermann, Inc., Engineers and Managers, as,$6,SOO,000, which together with the proceeds of these Notes, it about twice the amount of bonds and notes outstanding, . Subject to cals wo offer thesa debentures to not J I BAKER, AYMNG & YOUNG '' Syndicate Managers '. ,- i 59 Congress Street, Iloston Land Title Building, Philadelphia, Pa, "FiSsed hy Hie Capital Issues Committee as not Incompatible with the nations Interest, but rlthoiA wyvl ( legality, validity.' vrth, op security. Opinion Np. A?0." .. . rC " , r ("! -TXX-" ; i iA2 rv -v -. sl V 2pi . M $ i li. n n fa
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