'
EVENING PUBLIC LEDGER PHILADELPHIA, SATURDAY, JANUARY 11, 1919 . ,
BENNER & COMPANY, Inc.
Widener Building
OFFER TUB
7 A .Cumulative
I Participating
0 Preferred Stock
OF TTIB
YORK STEEL
CORPORATION
Subsidiary of
YORK CORRUGATING CO.
York. Pa.
Particulars upon requett
NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICM
MARKET SHOWS NO POSITIVE
TENDENCY IN SHORT SESSION
Reflects Cessation of Liquidation and Pool Operations.
Oils Generally Lower Tobacco Issues Continue
in Demand Tractions Drop
BarnetOilGas
" BODOIIT SOLD QUOTED
Morton R. Alexander
Phila. Stock Exchange BIdg.
27 William St.. N. Y. City
All Kinds of Bonds and Investment
Securities Bought and Sold for
Cash Regular Market Prices
Coll or Write
JAMES M. MARRIN
503 Liberty BIdg.
Ilroad t: Chestnut Hts.. Philadelphia. r.
' FINANCIAL
High Points in Todays Financial Ncivs
Trading on Xcw York Stock Exchange v.as uninteresting. Liquida
tion and pool operations were not tn evidence. Industrials attracted most
attention In airly active Curb market. Corn declined. Cotton was In
cllncd to lower levels. Xcutral exchange shoiccd slightly firmer tone.
The weekly A'eto York bank statement showed Increases In average loans
and reserves, while actual loans and reserves decreased Time deposit
increased in both cases, but demand deposits decreased. Mar silver teas
unchanged.
New York Stocks
lllfTh
24U
J(OW
24 .J
69 !i
3T4
34
84 '4
Bit
46 '4
51
9014
si
114
43 4
15i
77
66 H
44 t
r.7
60 Ii
90H
61
Ann nnl Meetings
KSTI1K TROVIUhNT I.IFK AND TBU8T
LJ& tnVII'ANY OF rilll.AIlKM'lIlA
The Httv-fourth Annual Meeting of The
Provident Life and Trust 'Company of
Philadelphia will bo held at Its orflce.
Fourth and Chestnut ats . on Second Pay
(Monday), the Thirteenth Day ot First Month
l.laniiuri). lulu, at 10 o'clock n. in. An
election of five Directors to servo for three
rears will be held between the hours of 10
a. m. and II p. in.
LEONARD C. AS1ITON.
Secretary. ..
T-FMIM) HIM. AMI MIIIIW.KILI.
HAVES I;A1I.I((II (OUI'.UV
1111 S. I mirth M.
Philadelphia, Twelfth Mo.. 17th. 1018.
The anmnl meetlnn of the stockholders of
(ho, Mlno Hill and Sfhuvlklll IInen It. It
Co will ho held on Second Day, First Month
13th. 1010. at 10 o'clock a m . at the oKlce
of thn Company, at wlitch time an election
will bo held for a President and ten Man-
BB""- lTtANK VT. MILLER.
Secretary
UCSF MhltCII IMS I MOV Till ST COM
fc I'AM', 716-717-71!) Chestnut Ht.
The Annual Meeting of the Stockholder
of the Merchants Union Trust Company will
he Held at the utile cf tho Company on
vvcdnehdn, January 23, 1919. at 12 o'clock
""' WILLIAM J. Cf.AniC, Secretary,
,r5S HOUTHWAltK NATIONAL HANK
S? Philadelphia. I'n.
Tha annuat election for Director of thla
Hank will be held at the. Ranklnc House on
Tuesday. January 14, 1010. between the
hours of 10 o'clock a m and 12 o'clock m
W. J. HTEINMAN.
Cashier.
Annual elections
FIMNKI.IN NATIONAL, UAMt
(ueatniit aireel. nest ol Mroad
I'nuaueipnia. liecemoer i'3, mis.
Tha Annual MeetlnK of the Shareholders
of this bank for the election of Directors to
serve during the ensulnu yar will be held at
the banking house on Tueaday. January 1ft
1910. between the hours of 12 o'clock noon
end 1 o'clock p. m
J VCM TIAnrrr. Cashier.
B5F
l3KMRTHWLSTERN NVTIONAL DANK
12SS The annual election for directors will
be held at th. banking house on Tueaday,
January 14. 1010. between the iioura of 11
and 1 D. ro.
LINFORD cl. NICE.
Cashier.
Dividends
Philadelphia rapid transit
COMPANY
Srml-Antyial Dltldcnd No. 5
Philadelphia, January 10. IMP.
A Keml. annual Dividend of two nnd one
half per cent, or one dollar and twenty five
rrms per s,i.,r.'. niv ik.ii ucnareu um ui
the Rurplus earnings to P.cember 31. 1018.
upon tho capital stork of this Company,
payablo January 31, 1010, to sh ireholders of
record at tho cloao ot business on January
si. lino.
Transfer books will remvln open
FRANK II. ELLIS.
Secretary.
SUM; 1I1I.1. AM) M III'VI.IUI.L HAVEN
RAILROAD COMPANY,
110 h. lCltlltTlI HT
Thlladelrhla, Twelfth Month, Kith mil
A dividend of 8 '4 per cent ((1 25 per
share) has thla .lav been declared, pavable
on First Month, 1.1th, 1010, to stockholders
of record at 'J n m on the 1'Oth Inst. The
transfer books closlne on the soih Inst., will
be opened at 0 a. in. on First Month, 15rb.
1010.
Checks will be mailed.
w.m nmnr.K.
Treasurer.
Cfflee of The Ullted tins Improvement Co.
N. W. Comer Hroad and Arch str'-ets
Philadelphia. December 11. IBIS.
'Ihe Directors have this day declared a
suarttriy dividend of 2 per cent (II per
sn.rej. payable January 15, 1010. to stock
holders ot tccord at the close ot business
December 31. 1018 Checks wtll be mailed.
I. W. MORRIS. Treasursr.
BUSINESS NOTES
Now York, Jan. 11. Tho stock market fn tho two hours of trading
with which tho teek ended was without any posltlvo tpndency and re
flected a cessation of both liquidation and pool operations.
Stocks that had been mado stronf; for a long tlmo past wero In supply,
a special featuro being Mexican Petroleum, which dropped during tha
first hour from 182U to 170. Other oil stocks showed an nbsenco of pool
support, which had been the chief sourco of activity for somo time and
they showed a heavy tono ccncrnlly, although Sinclair Olt wai steady
and thcro wero Indications of orders to accumulate tho stock at slight re
cessions. Tho local transportation stocks were again Influenced by tho action
of tho Board of HsUmate yesterday and declined under small offerings,
Interborough preferred dropping moro than 1 point to 1914 and fractional
losses wero sustained In tho common stock and In Brooklyn Hapld Transit.
Tho steel Btocks wero unusually quiet and fluctuations In those Issues
wero confined within narrow limits, but nearly all theso stocks showed
trifling losses at tho close.
Tobacco stocks wero made active at times, with United Cigar Stores
molng up from 113'i to llt'.i in tho early forenoon, but losing most
of Its gain In tho last hour of trading. Cuba Cano Sugar was ono of the
weakest features, falling moro than 1 point to 20r;.
Government bonds wero again active, with the Liberty fourth 4'is
continuing In good demand, mos,t of tho transactions being around 9r.60.
Other bonds wero irregular, with tho traction Issues down about 1
point.
.10314 103
73s
105
97
CI
.291,
'CO
74U
92 4
73 W
49
112
RS
24.
BUYING POWER POOR j PRESSURE ON COTTON
IN THE CORN MARKET! SENDS PRICES DOWN
Sentiment Bearish, Owing to
Feeling That Trices Must
Come Down
The works of the Crucible Meet Com
pany, ot Harrison. X. J., which haa
liccn working loo per unit of capacity
on Co eminent ordeis, has elosul down
tnniiuiniily us uult of fcuspenplon of
large part of thcho orders. Operations
win ne lunumcd grudually as orders still
on hand mid new pcaco business decl
ojilug vtuir.itit It is understood that
other plants of tho company arc affected
but not to such an extent.
' iMMni for orirniilrntloii of
the board of directors of tho Tiro Asso-
i . i l J.'llll h Joi h-
.111 w . c mill m.'c pmldiut of tho
oiDlutiy l biKivid ThMi lor. II Con
il'n '.'Pim1-. .1 ii'Iht olllcers of
tho company wero le-elected.
Under the order made today by (he
anthraclto committee of tho United
States fuel administration, anthracite
of any and all islzes, other than tstovo
and nut, may now ho shipped anywhere,
throughout the' entire country and to
any amounts called for.
Commercial failures this week In the
United States are 175, against 140 last
week, 126 tho preceding week and 285
tho corresponding week Inat year. Fail
ures In Canada number thirteen, against
fourteen last wee, thirteen the preceding
week and twenty-four last year.
Humors are nualn In circulation regard.
ing an amalgamation or three of the
leading Independent Bteel companies
Youngstown Sheet and Tuhe, Lnckawan.
na Steel and Inland Steel It can be
stated, however, that no plans for such
a merger are now under consideration.
That a mercer of at least two of thren
companlesi Youngstown and Inland, will
eventually no c-uiisuiiuiiuieu is not
doubted in well Informed circles, but It
is suggested that the present would not
be an advantageous tlmo to tako action.
O, C. For, formerly of Wellington,
Sears & Co., will, on and after February
1, bo associated with Norman J. Coudert,
under tha firm namo of Norman J.
Coudert & Co. They will continue as
.Bailing "agents of cotton goods at 542
Drexcl Building. w
Tlorlnc the month of November the
railroad administration reports five steel
pifBsenger cars wero delivered and two
wooden passenger cars, 107 steel freight
cars and 366 wooden freight cars and
forty-six gondola cars.
The Standard Oil Company of New
Torlc has reduced the pries of refined
oil In barrels for export one cent a
gallon, effective, at 3 p. m. today. This
makes the present prlco 18.75 cents per
gallon,
Australia lias sold 80,000 tons ot
wheat to Norway at i.3& a bushel, f,
' to. b. Melbourne it Is ofllclally an
nounced. Norway supplied the tonnage.
GRAIN m:i.T WKXTllF.R TORKCAST
Chlcano. Jan. 11. Illinois Fair, to
nlelit. warmer northett Cunino. fair
south and central, probably enow or rain
ctreme north. ., , . , , 47 .
MIsHi.url nnd Knnsas Fnlr tonlaliraml
Slindax warmer tnnUht. . lt ,
Wisconsin Inrreaalne cloudiness, prob
ably follunrd by snow late tonlnht or
"Minnesota Fntlled 'tonight nnd Sun
dnvi prohnbli sno. . .,.,
lon Parity cloudr west nnd Mjuth.
nosslhlr snow northeast! wnrmer jonlsht.
North Dakota Mostly cloudy lenlaht.
prolpnblv followed by snovv Hundail (old
utremo west Nunilay. b.,i
South Dakota Fntr tonlsliti ,s",n"J
Inrrraslnir clouillness, probably follone.1
by anew nnd eolder north and west.
Nebruska Fair tonluht nnd l",",1'1"'
wnrmer tonlcbt In central nnd eitreme
southi colder Sunday. ., . , ..
Montana loud, folloed by snow
Htindaw eolder. . ... , .
M j onilne Fair tonttht, Mcept rain or
snow extreuio westj
Chlcnito, Jan. 11. Sentiment In corn
was bearish this morning, owing to a
growing fear that the prices of com
modities muot come down to meet tho
changing social and economic conditions,
and tho maiket was weaUer.
Selling was general nnd buying pow
er was poor, apparently basing been
exhausted lato yesterday, when many
of tho most Important shorts cocred.
Tho olumo of business was smaller
than on tho two previous das. Com
mission firms and local brokers som
Tho buying was mostly on resting or
ders. I-arger receipts wero promised
for next week.
Tho nrriMili hero today were 201 cars.
January opened lie lower, nt 31 41 'i
nnd dropped to $1.13'. March started
at a decline of He. at el.37. and
receded to $1.3G'. May ranged from
$1 3BH to $1.35i at tho outset, ngalnst
$L36 at tho end yesterday and drop
ped to $1.35. .... , ,
Oats were easier on selling by a lead
ing elevator Interest, prominent loc-jl
traders and commission houses. Busi
ness was fair. It waH said that the
domestic demand for tho cash artlclo
way better. Tho arrivals hero today
wero ninety-six cars.
January opened at 691c to C9UC,
against 69 !$c nt the close yesterday.
March win down lie at the outset at
70c. Mav opened nt 70o to 70sic,
against 70c at the end yesterday.
Tho receipts of wheat nt Minneapolis
today wcio 109 cars, ngalnst 156 cars
last year; at Dulutli, 24G cars, ngalnst
7 cars a ear ago; at Chicago 91 cars,
nqalnst 7 cars last ear, and at Win
nipeg 277 cars, against 292 cars.
Leadlnn futures ranired as followa:
Corn mew nemery
Close Barely Steady at Net De
clines of .5 to 215
Points
(li'i
70H
Open
Jan.
May .
O.MS-
Jan
May .
May .. .23 eO
lltbs
Jan .... ..
May ... 23.30
May ....42.35
Yes.
Hleh Low Closo close
. jiu. i jui: 1.4M 1.4(1
'. 1.33H 1 35 l.SJH 1.31'ti
l.IIW
1 35 H
Ne Aork. Ji'ii. It. The follonluc tem
peratures were recorded In the cotton belt
this niornlnei
Knox.llle, Slit Miicoii, 2X Asheillle, 30;
h irlestoti nnd Thmuasiltle, 31 Mhrele
nnrt, Oklahoma I Ity, Nashilllr. Atlanta
nnd YlllmliiKtnn, 3 Is I.lltle Itoek. i.k
btiri;. Pensacolu nnd .laiksnniille. 3(li
Memphis. 3S New Orleins. AliKiistn and
Knunn-ih. III. iSan Aiitoiiln nnd (lahes
ton. 41: Tumpa, IS.
No prerlpltnllon. .
New York, Jan. 11, l'ressuro was ap
plied again to cotton Inward tho closo
today anil after tho maiket had rallied
It cgaln weakened.
Kentlnfent remained two-sided, and
several Important Interests wero said to
bo ptpiesslng bullish opinions anil buy
ing quietly on declines. Tho demand,
however, was checked owing to appre
hension over tho unsettled labor situa
tion and tho unsatisfactory conditions
In tho goods tmdo.
Advices from tho South told ot a fall
ing off in tho Inquiry for tho actual
article, but liidlcaUtl that offerings wero
not large. Outside, liquidation nnd south
ern selling developed lato In tho fore
noon.
Tho close was barely Meddy nt n net
decline of 3 to 23 points.
lesterday'a Todiy'
closo open. Hluh Low Closo
January ... 1!7 Til . J7 n.v '7.tin "T .n
Manh . . . l'ii 14 sunn uii 411 i." us un no
.Miiy '.'"Ill L'l HI ''". '.'S 'J4 HI J4 HI
July ... :m jh '.'i is i'l 47 'Jl in 24 in
October L'J.lll SJ 111 Si 31 SI 05 L'J Wt
N. Y. BANK STATEMENT
Adv Bumcly
do prcf .... B9U
AJax Ilubber . 6714
Alaska GUI M 3T,
Alaska Juneau 2Vs
Allls-Chalm Co 35
do prcf .... 85
Am Beet Sugar 71 '4
Am Can 48 M8
AmCar&FdyCo 90t 894
.jax nun rets. I".
Am Cotton Oil, 44
Am Illdo & Ii 15'
do pref ... 77 'i
Am Int Corp.. B54
.m ice sec
do prcf
Am Linseed
do pref
Am Loco . .
do pref.
Am Malt ... 3 j!
Am smelting . 74
Amer Snuff. ..105
Am Sum Tob.. 9 8 'a
Am Sugar.. ..114U
Am Tel & Tel. 101
Am Tobacco.. 20 4 i
do pf new.. 102
Am Wool U
Am Wr l'appf To',
Anaconda .... 60
Assot'd OH.. 76H
Atchison . . .93
Baldwin Loco 74,
B & O . .. . 49T
Barrett Co. .113
Beth Steel pf. 88
do B 61 'i
Ilkljn lt T... 24",
Hums Bros... 156
Btitto Con A V.. G'l
Bulte ft Sup C. 1914
t'al Petroleum. 22'3
do prer .... 66 '4
Cal Backing... BUs
Cinnriiin I'ac .1B9
Central I.eath . B94
1I0 pref . . 105
'Ccrro d" l'nbco 34
iCent & S A Tel. 117
Cl.es & Ohio . 56
'Chicago & Alton 78j
ie si tc &t l'... 4i
do pref . . 71'
'Chi & North.. 9ti'
ll'RIS I'ac to 25 li
(Mllll'l HP 79 j
It'liluo Con Cop 33 'i
Ifluctt 1'eabodv 641s
Col Fuel & Iron 37
Col (las ei l:lec 12 .
t'ol & South . 21
font Can . . 70 i
Corn Products. 50 's
Crucible Steel.. G6T
Cuba Am Sug 150
Ci'ba Cnne Sug 27
do pref 77
Dcla H Hudson. 104
Homo Mines . . ll?s
LiMll Securities 611
Kile gen lieu. 55
l.ilo 16i
Castou Winn . 29',
len Cigar Co. 5J'i
Ceil Jlotors . 128 n 128
do pref . 84 K. Si's
Coodrleh II F 57
(.en Motois rtn 1 ',
tlninliy Mining 77 'i
Ct Nor prcf .. 93 '5
do Ore subs 35 '4
(Jreene-Can Cp 44
tlulf M & Nor 7'i
lulf .S'.ates Stl G0
Mask ti Barker 4 1
Int Agrleul . 13U
do pief . . 58 't
Intplr Copper . 44
Inlerb-Cous C. 5'-
do pief
Net
Close chime
24 i U
59 ii li
6714 11
3Ti Is
21i li
34 i
8414 .
70 ; l'i
-l'"
INDUSTRIAL ISSUES
THE LEADERS ON CURB
48
89 ?i
l"s
44
16 U
77
55i
44,
57
BO'i
90H
61
10J
214 ..
738,
10b
97
11314 114'i It
101 101
20l 2044 14,
102 102 1
General Asphalt Continues to
Attract Attention Oils
Steady, Without Change
Philadelphia stocks ' GENERAL ASPHALT COMMON V?J
AJND PKEFEKKED SOAK AGAUY
New Inrk, Jan. 11. Tho Curb market
was fairly active during tho half-day's
trading, with tho industrial Issues at
tracting most nttcntlon, somo of tho
stocks In thnt group show Ing pronounced
.strength. General Asphalt continued
'"h
24 Am Gas . TI4
10 Am n pf 65
95i:ico Stor B3'i
1902 Gen Asph BOtj
1165 do prcf. 834
435InsCNA 284
10 Lk Sup C 17 4j
BOLeh Nov. 724
5 Leh Val, BBMi
40Mldnle.. 44 't
1801'ennu Bit 45t
44 I'hlla Kleu 25a
206 B UTto 27Ts
5 l'h Tract 71
V 60 Ton Bel.. 2i
100 Ton Mln. .1
135 U O I... 72'3
725 U S Steel 91 T
Net
!w Closo chge
64 64
65 65 .. .,
B3a 6314 fs
49 4914 .S
82'4 83 11a
27 28'4 "1.
17 li 17', i
72 ji 72 j, d
B54 55 In It
44' 44. ..
45l4 45i ..
25 25i s
27 27 s ,
71 71
2's 2, ..
3 3 i
72'a 72n ..
90 90 ' Ts
tho most prominent feature, ranging ,V'' I'' (ii,,l0 !1,,r!.,i.rompll..r'l.n'R....
,, .... , rnLI ,,.,,, ,,' ,i",i 1 15.151 shares cslerdiy: this celt, IIO.OUJ
from 49'a to B0V4 With tho demand I shares, last mccK. 13.011 eharcs.
Dutch
joining from Iloval
'1
'4
51
29 V.
60
754 2
93 i
73'3 'a
49 '4
113
88 3
60'i . ,
"t "s
H 1 I
Is
14 steadily
8, sources.
Intercontinental Rubber was unusu
ally actlvo after being quiet for a
long period and advanced from 17'i to
19
Swiss International reacted from 47
to 46, and Llbby, McNeil & I.lbby was
'M
traded In at 23, n slight recession from
15B9 156
19't 19'i 's
22H 22j tt
66',i b6'4 '
61 5l'i S
159 159 1 1t
B8ii BS', s
103 105 ',4
34 St '4
117 117 2
56j 4
7. '.
41 J- 'j
72'i
96
56!).
7-S
40Vj
jesterday's highest price
Tho war stocks were quiet. Aetna lit
plosives selling at 7'i ; Wright-Martin
at 3?i to 4 '4, and Sulimarluo Boat at
1 l-'4 s
1 Tho oil stocks wen' steady nnd with
1 out Important ehango In prices. Hous
ton Oil sold nt 82 to 83 and luiyal Dutch
wns traded In nt 72W to 725J,. Inter
national Petroleum was steady with sales Uurt. A
nt 18't to lS'g. Cosdcn &. Co. sold at 1 io prel
7' tb 1
Tho motor stocks wero Irregular.
Peerless held strong, selling nt 19 to
191a, while Kovstone Tiro ranged from
50 's to 55 '4. United Motors was steady
with sales at 35i to 35,.
INDOTUIAI.S
IKINDS Net
....... "Igh Low Closo chge
2000Clty 4s
1916 .. 96'j 96'5 9G',4 "i
600 Lako Sup
lnc 5s. . 58 68 58 ..
1000 Lib Bonds
4th 4 'is 95. CO 95.60 95 60 ..
3000 I'll Co con
1st 6s.. 100 100 100
Total sales, J03O0, complied with II4.H0O
csteda. this week, SJ3.',850, last week,
? 100,500
Local Bid and Asked
79'a
33 'a
64's
37
42.
21
70
49'k
56
150
25 is
75
104
11,
64 '
615,
lb'.
r.2
H
'4
'ii I
111.
ls
791;.
3 1'
64',
37 1
12
21 t
70 19 ',
66
150
25;4
I
a 1
60
l";
I1!
77 '4
9 j '4
31-i
43'i
7 '4
5')
41
13't
51
42'.
5 '
10 14
Aetna explosives ...
Am llrlt Mfg .. . .
Am Mnrconl
Amer Wilting 1'aper.
Air Heductlon
Canadian Car Ci
s C011 Car cl Fdy pfd . .
Cha1co.1l Iron
Js 1 Chev rolet Motorfc .
Is j Crimp ...
t uills3 Aeroplane. . . .
' j Cnrvven Tool
'.i Carbon Kleel
I l.mersoii 1'lionogiaph
llen.lec jug
Like Torp Iloat . .
Lehigh Coil Sales ..
Lima Loco
M.i vim .Munitions.. .
N V SliiDbiitlillnc
N'nr Amer 1'apcr I'ulp,
Otis Clcvator
Peerless Motor
Boole Bug
Scrlpps Booth
Standard Motors .
SKcl Allois
-.' . Sulimarlnc
li Si JnN..iai I.....I
(4J4 -. 1 ' Tnild Shipbuilding
Triangle I'llin ',
Fnlleil 1'iollt Sharing '
1' S .Steamship .... 6
I'nlted Motors 35
Worhl Film 1,
Wrlght-Mnrtln Air .. 4,
STAND ltll on.
4'.
104
in,
51 U
54 4
Ill's
39',
6-'-!4
12S
S4i
57 s
iTs
-3
1
I!
114
'a
U
9T4
34
43 's 1
.115
. 58
. 11
. I
90
o
10
14
87
30
4
35
. 2'i
. ii
. l'l
. 20
. 15
7'a
i
. 12
. 13
107
Ycst. clos
ASK
7'i
n
4'i
2
60
33
85
8
155
63
1.1
8
100
2'i
18
2'
90
35
'"a
38
21'.
65
194
40
60
8
8
12'j
14
109
As
US1 tc
ref
ll.1hU.lll
Ilrlll J ll
Kleit Htoraco . ....
lieu Asp
flo pref
Key Tel
tin pref
I.iitie Sup Corp . . .
I.eh Nav
t.eh Valley
I.ph V'nllpv 'l'r
(saie) I no pref
7 !s I'cnna . .
1 I'hlla Blectrlc
l'lill l Ci .
.10 5 per cent rr.
il. 11 t rr cent pr
I'hlla It T
ltiadlng . . .
Tun He!
Ton Mln
I'n 1 rnc
It O t
If H Mteel
lork Kwy
do prcf
111 Cramp . . .
Todll Vest
Hid .slt Hid
70 7J 711
r,i r.i r.i
7.1'i 74 7.1'i
20
r.v r.i r.i'.
isl, 40', 4H
H.'C, HI HHj
, III . 11 HI
47 4 1 17
It's IS I7'
, 7i 7:i 7J't
, :,-,', ;.i; r.-.,
,14 .. 11
rday
Ask
7
r..i
7I4
20
51
ff"
411
IS
7.1
r.o
Make Up Bulk of Business on Philadelphia Excliimgd
and Score Wide Advances Other Stocks Sell in
Odd Lots, With Prices Steady '
Outsldn of business In Oenernl Asphalt common and preferred stock,
trading was slow during today's short session on the Philadelphia exchange
and prlco changes wero few hut generally on tho sldo of advances. Both
Genera! Asphalt common and prefened continued nctlvo and- strong, tho
former advancing ns much as 14 points to 5014. another now high, and ths
preferred 2'i to 839i. within !i of that stock's top record scored In 1914.
Tho wldo changes wero recorded catly In tho fccsslon and again they wire)
followed by recessions when holders sold for profits nt the high level, 'so ,
that both classes showed declines fiom tha high of tho morning at the close
of trading.
Klectrlc Storago Battery wus about tho only prominent homo Issue to
show an Inclination downward nnd it yielded i, while Philadelphia Eleclflo
advanced slightly nnd Insurnnco Company of North America ndvnncedl
point. Business for virtually tho entire local list, outside of Asphalts,
was In small, odd lots, nnd prices for others appearing were generally nt
previous closing lovels. '
Steel rcicted a little, but was slow. ,l
. . e
Officials of railroads operating fastw-ird from Chicago and St. Louts re
port fairly good conditions for midwinter. Comparisons with other years tare
still out of lino its to volume,. At piesont tho roads have, all tho buslnws
they can handle piumptly.
Hallroads operating In tho South nro handling nbout 8 per cent less
business than n jiur ago, with tho car supply easy.
GOSSIP OF THE STREET
II alone the samo linen, but on the whola
opinions were decidedly mixed on the
1 1- ..- mi .... i-
I 1 iiiiiiu jjfjiuia Aiifjia .i, nuwover.
lit
27
Mi's
.IIP
7-"a
HIJ
:t2
:u
s
1,1 .
.ima
7.1
OO7.
31
31
27la
M's
H!.
31
7.".
7'.
.11',
oil
.111
31
I'IKLA. INACTIVE STOCKS
3G,
12',
69 2'
41 I
li'i i
584 3
4314 'J
SH S
Int Mr .Mar pf.l07'B 107 't
Int Nickel
, Int It T pref
.Hen i e.i
Kelly Spg
Ivennctott t'
Link Su el
Lehigh Val .
L-W Bis Co
Lorlllnrd B .
Max Motor. .
.11 Mi .11
71'- 71
30 ,",0
. 70'a 70
32 ',3 32 '4
. fclla fills
. 65 -i, 55 ?t
. 4't 41
lfiS lhS
. 28 1; 28V
May l'ept S pf..l0l 101
Mcx lroL..18JV4 178'-i
Miami Con Cop 21 2I
Mldvnlo Steel 4l'i
Missouri I'ac . 25'-
Nat Acme . 31
Nat Con & C . 16 'a
Nat 11 & S.... 48U
do prof . . 935
National Iead. 64 'j
Nevada C Cop. 17
N Y Cent .... 74'.
North Amer . . 47
North I'ac . . 92'
Nova S Stl rts 'a
Ohio C.a l.TSt
Ontario Silver fi'4
Okla 1' llet . 10
Ban-Am Bet... 7il'j
l'enn It It ... 45j
I'hlla Co 31,
ritts & West. 3fi4
Blercc-Arrow . 42 '-j
do pref.. . . 102
i Pierce Oil . .. 18
I Pitts Coal .. 47' j
Itv Steel Spring .4
Increase in Average anil Decrease Itpart 1V1 " ,'''.P I 81 'i
Actual Loans Average Reserves Iliph 1 Bep Iron & S 7I1
, Nr V ,J; uJl6 XT Hs'aTl ,.f I.ii
hank statement this week shows increase, sipiaiP nil ... 3I.
, ...... .. .. ... ... ..... . . ....... . . . -. .. -
Southern I'ac iui-s iuu's
Southern H B.. 2Si 28'4
do pret . . 00 s
In averngo and decrease in actual loans
Average reserves Increase, while actual
are lower. Tlmo deposits galnln both
cases
Details follow:
AVEHAGR
4314
25' j
31
15'i
48',i
!l3-'
64
17
74 '4
47
92 'i
'a
43f
!',
'II.
69 '4
45 '4
31 W
364
42'4
102
18
47'
71 20'4
80',
73
71
18'i
314
20
107'
31
71
30
7lH .
32a
05'i,
554
41
If. 8
2S
104
179
t
Am (ins ill
Amer Milling Hi',,
Am Stores pf 90
A O war ... 714
1 Brill JO ... 20
Huff & Susri tc 70
Huff & Sus pf 51
Cambla Iron . 40
Cambria Stl. 115
C.itnw 1st pf, (,;
Cataw 2d pf. 54
I Tnt Bass Bys 109
I Con Trau N J 6J
corni.s.MUK .130
' I coiior.il nirrpeinent nn one nolnl. nqmaW
STTRSTTTTTTF. TOANl tIiat Mr McAdco's nve-year Government
UVJ1JUJ.11U11J AJV-VlSJ rnnlP11i ,. m.-ratlnn ,.v ncrlmenf wMlt.l
not bo carried out. t
Thero was opposition In some qur
tcrs to tho appointment of a Cablmt x
incmb. r ns director of transportation, '
1 the main objection being the dragruir
gcslion of Philadelphia Hanker , of le railroads into politics
l . There arc a few bankers In thts city,
as Sound Proposition I who claim that Government ownership
111 inu ciiu la iiieviuinio iinu arc. uiere
fore, In favor of Mr. McAdoo'a five
jear trial plan not that at present they
advocato Government ownership, but
they claim tho drift of tho times la
strongly In that direction, and they aay
experience shows that tho best plan,(ls
to ninko tho best of what comes alongj
They say that the present temporary
arrangement Is getting to bo Intolerable,
and Is having a serious effect on rail-
lead securities, and they cannot figure
how under Government ownership a
PLAN IS FAVORED
Financial Diotrict Welcomes Sng
, The suggestfon mado In this column
on Wednesday, In nn Interview with ono
of tho leading hankers of the city as to
the substitution for nn issuo of 11 fifth
Liberty Loan of an equal amount ot tho
bonds of tho Allied na'lons, guarantied
Tollowlng are quotations for Inactive
Rtrptro tl.. ... .u m.ll.,t.l.hl . UlnnL
Vi u "' ."O L llll.lilllin. ...wv. . ,, i ... . 1 .1
i.xciinngc anil In which there wero no " umini .-uuib uuimuiuni, 13 u.
transactions today. The price given la subject of vcr favorable comment In
tho last previous close: tho financial district The prmclplo ln-
Acmo Tea o 79 lhlnh Nav . 73 I volved meets with almost unanimous up-
Lit Uros .. -it iprovni, not to say enthusiasm, in somo
Little Schuyl. 48 1 instances, Ono banker remarked jester
Slim hill ... 60 day that It was tho tlrst and best sug-Vt-irth
Central 754 .iinn 1.. 1...1 .... i..m.i ..e n ..ton to
Nortli Benna. J4 ., . i,ruiiortlon of our loans
'i
I'llnols
Ohio . . .
Prnlrla Pipe . . .
rt O i:nllforiil.i
S O New .1. 1 soy
S O New York .
.161
338
2h7
.238
.72.1
322
Oil.
167
332
26.1
....
1"5
1
li
3
'i
43 '4
25 M: .. .
:u 'i
if. li
48'a
93 ,
64
17
71's
47
92 '4
6
2'
t
811
18'i
8
4 1;
.12
311
16
21,7.".-. nnn
H1.14H nun
.1K (IO11
1.H32.0UU
530.881,000 "LSJIUOO
Loans .. . 1 1.751,605.000
Net demand Je-
luislla ... .13 020 ORl) 000
Net tlmo deposlta 142.1107,0110
Circulation .Ti.ii-.l.ooii
Cash In vaults., 1113,321,000
Jleserie In num
ber banks .
rteserve In htato
banks nnd trust
rempinlis ..
Iteserve In Mate
banks nnd trust
eo. depositories.
AcKreeato rese ve
Iteserve required
Surplus
Ilecreasp
tllnlted Blatea deposits deducted. 1200,
14B 000
ISpcclo Included, 160.003.000.
Slnnilanl Mill 120
. htudebaker ... 62 Mi
Stut7. Motom. .. 60s4
Increase strombtrg Carb 40
5l.ii.'7.uon sul Steel ... . 36'i
Texas & Bac. . 33 ,
69 '4
120
r.u;
r.nij
37 ?
35 'i
.1.
tll.O89.00O
0,014.000
r.77,HH7,OV)
510 H70 21(1
5S,O10,70O
37.000
.11.000
.I.R411 ono
.',H47 IIMI
DOS (ISO
60S (1S ' nn's
70 no4 cu 704
21 43 21 10 21.42 21 40
23,83 23 37 23.53 23 82
24.70 23 20
23 30 2." 87 2J.87 23 37
40 21
42 J3
41 01
41 33
41.01
41.47
46 51
42.35
Financial Briefs
RAILROAD EARNINGS ,
rr"
Of the sixteen employes of the Com
mercial Trust Company who went Into
the military service fourteen reached the
other side.
Tho following securities have been ad
mitted to the list on the. New York
Stock Bxchange: Ajar Rubber Com
pany, additional $1,000,000 capital stock ;
Bush Terminal Company. H45.000 com
mon stock: Tobacco Products Corpora
tion, $1,600,000 common stock. '
The New York Subtrcasury gained
J43.000 from the banks yesterday.
A. J. Karllng has resigned as chair
man of tho board ot directors of Chl
Eag". Milwaukee and St. Paul and will
hi succeeded by II. M. Calk ns, who Is
president of the Ballway Corporation.
Tho New York Cotton Hxchange mem
hershln seat of II. li Kohn has been
Ml to Q. M. Pynchen for 817.000. This
Is Bamo prlco us paid for the laBt seat
sold.
DIVIDENDS DECLARED
Philadelphia Itapld Transit, semlatinusl of
2H per cent, payable January 31 to stock
of recora January -1. , . . -
Cuba llallroad Company, semiannual of S
nor cent on preferred, payable February 1
fo stock of record January 1.
GOVERNMENT BONDS
nid
2s, reelstered. 1030.,..
2s, coupon. 1930 98
4s, registered. 1025
3s, coupon. 1025... ..
4s, rrslstered. 1046... S3
3s, coupon, 1940.1 e.1
Panama 2s, registered, IPSA,, 9N
Panama 2s, reslstered, 1038,, 0
Panama 3s. registered, ltttl.. B8
Panama 3s. coupon .......... 88
Asked
10!i
100
ACTUAL
na, ono
72,000
(Kill
3V.lll.Mini)
1111,457,000
550,021,000 'O.ISS.OOO
loans 11.700 327,01X1 115,530.000
..pi nrinanu ue
posit, .. . . f3,ni2,2no,nno !
Net time deposlta 142.318 (inn 2.
circulation . .
iMsti in vaults .
llcseno In mem
ber banks .
Iteserve In State
hanks and trust
comnnnles
Iteserve In State
hanks and trust
rompany depositories
Accrepate reserve
Reserve required
Surplus
lleorease
tUnltcd States deposits deducted, 1213,.
48'l 1100
JSpecIo included, 131,283.000,
OUTSIDE HANK STATEMENT
BTATB HANKS
lnprp.M
tnv'stm'ts t325.330.2on til mm 21m
Texas Co 187 Mi 185
110.010,000
10,023.000
581.4MI.rnii)
52-',H7H.710
53,010,270
llo rts .. .. 161. I6M1
Tobacco Prod.. 78, 77 Mi
Transitu Wins. 37t 37'
Union P.10 . .128'. 128
do pref . 72'J 72'4
I'nlted Alloy S i' 37 ,
Bnlted C StrsUB'i IUI4
I'n Prug 1st pr 62 52
I'nlted Krult ..16.1 13
U S lnd Alco.103 103
II S Realty.... 21 22
17 S Ilubber.... 77 '4 76
do 1st pf...l09 109 i
IT S Steel. ... 92- 90",
1'tah Copper . 71 71 M
Ctah S Corp .14 14
Wabash 8i 84
do A pf. .. 33 '4 33
West Marvld.. 12 114
West I'll Tel.. 88 87'i
WestKhsn Mfg. 42 41,
71111,000 White Motors. 4514 45'4
Wlllss-Overliul 25n 25.-H,
do pref 88, S8S4
Wilson Co. .. . 72, 71?,
Wrth P&MpfB 67 67
474 000
l,4.".10fl
5,174,0(10
-'.2411 till
.',027,850
43", ..
6 ,
9- ..
69'a 1
45 i
31'i ..
36 i
42'3 ..
102
18 'i
47'-.- ..
74
2014 U
80'4 'i
73', N
74. H U
IS 14 s
341, H
100T, ..
28'5 4
(.9 '4 t- '4
120
61 "4 '
504 4 1
39 l'i
35 '4
32 la
185 '4 li,
lfi it. U
77'. '4
37 4- 'i
128 H
72 '4 ..
37 1.
113M4 's
52 U
163
103 U
22 1
76 l'i
109 H ',
90", l'i
71'3 j
14 Mi
8 'a
3V, i
11?4 i
87 '4 lh
41 S. .
45 14 i
25 ih
884 Mi
71i a,
67
l
(!
im)I.I'i:m)i:st
Harnett Oil & Gas..
Cnsdeii tc Co
nik Bnsln
Kidinl oil. ...
C.lrn Bock
Houston Oil
Inter Petrol
Ir'.-ind Oil
Mi rrltt oil
j Mlln.st Belltilng .
Met Petrol . . .
Oh'o Kuel
Itice Oil
Snj 11 1 1 1.1 Ref ....
Stquovah
JIIMMI
Atlanta
Big Leilgi! . .
Ilulto New ork . . .
Oni Arl7. . .
C K S o; Jeroiiic . . ,
Kinds N11tln11.1l . . . ,
Goldlleld Merger ..
tiolillloid Cons ....
C.oMllelil rioreneo
Coldlield Kiwnnus ..
G11 en Monster
Ilccla Mining . ..
llowo Sound
Independence land
Jrriimo Vi rl(.
Jim llutlor . .. .
Jumbo Kti nsion . .
Mclvluley D.irragh.
51ngnia Coppi 1 . . . .
Mother Lodo
Minis Co of America
Via'ti Mills
Nevada Wonder . .,
s pi.slrig . .
Ohio Copper . . ,
Bay llircules ..
San Tov
Tonopah Extension.
I'nlted Verde
Wet Lnd Con
Whlto Caps
Yerlngton
KINDS
Bethlehem 7s (noti s) ,1004
. s
. S2
.102
. 19
. 50
. 98,
85
Todd Shipbuilding Co. 104
721
221
.STOCKS
.A V
6'4
2'i
l'i
82
18',
8'i
2 1
126
31i
18
7 "s
. 2J'i 21
.STOCKS
1! l'i
21
1 t
T;
p
4
45
25
33
8'i
lis
33 '4
3
12
1
4'-,
IS.
s
1 .
26
15
47
27
35
1
6
'4
8'i
l1!
2a
C'i
2 ',4
25
3'i
It
C's
82
18
126
13
"i'i
'l'a
614
4T,
31
Cosdi 11 Oil 6s
Covdin A: Co 6s
Cuil.ihy 7s . .
Hncsi.ill Govt 5I.H
J" ' BushUn Govt u'4h
- 1 South Billway 5s .
Kluil.nr oil (is
KU
K5
85
102'i
52
53
98T4
'ID
110
611!
HHSKUVR BANK HKPOHT
To'al pates, 210,100 shares, compared with
Gold Rt'scrven Gain in Statement of
Loral Federal Institution
A feature of tho weikly statement of
thn Philadelphia Keilernl Reserve Bank
was a further decline In Federal rewcrvo
notes In circulation, from $231,372,230 on
January 3 to $224,109,995 on January 10
For the last two weeks the notes have
bein coming In for redemption The high
point in actual circulation wus $233,4 80,
515 reported on December 28
Gold reserves snowed u substantial in
401 Mil shares yestrrdau this week. 2,701.-. ;"" it0- be'nB r'Vor,,e,d, ni r,viv8,60'14? on
Loans.
iiom
curr'ey bk notes
Iieposlts Bederal
Keierve bank ot
Neiv York . . , . 1
Deposlta
Hesv, on deposit.
l'erccntase of reserve
H.iins. inn
20,111,700 v
4..R(i0.500
n."J.23,l,llii)
107,711,800
017,200
U34.3UU
2 407,400
7,MlV,30()
4,070,000
21.0
TRUST COMPANIES
Loans. Inv'stm'ts $1,071,600,800
Hold 13,07.1,700
Curr'ey bk. notes 21,020,000
Deposits Federal
Iteserve bank of
New York 100,104.500
Deposits 1,1178,741,2110
Hesv. an deposits 301,031,100
l'orcentaee of ie-
serve 10,1 .7
STATU HVNK'S AND TRUST COMPANIES
NOT nUI'OUTINO TO CLEAHLNQ HOUSE
Loans. Inv'stm'ts $721,707,200 $4,004,700
B.I.'H.IIIIO '.'.', 100
10,100,900 141,400
$30 440 400
$10,500
843,300
I 001,700
1.1. 027, SOU
0,270.100
..vain
(lolri
Curr'ey bk notes
Deposits Federal
Reserve bank of
New Y'ork
Total deposits.. ,
Net deposits ....
Hesv. on deposit
Percentage of re
serve Decrease.
62,000,400
703,428.1110
701,070 BOO
145,027,000
2,722,700
0,511.300
0.418,100
8.013.700
1.8
Demand for Refined Sngar Light
New Y'ork, Jan. 11, Tho demand for
refined sugar continues light, local re
finers quoting on the basis of 9c, less
2 per cent for cash, for fine granulated.
The Wnrner Company ts accepting bUBl.
nebs for shipment In turn, while the
National continues to accept a limited
volume of business. Raws are un
changed at 6.066c,,
nihMphin CoHmwcMiUrU, tm PHe 16
Ciio shares, last werk 3 000,500 fharvs
i N Bk nr-.sa
I'cnna Salt . 81'4
Phil Co cm pf 33
rhlla Bl ww 2M
I'hlla . West 6
Ii T ctfs.. 27-i
Rvvjs Gen .. 3
Ton Mln 2's
rln True .. 30'a
Lice Storago. 53i Unl Cos N .1.190
4th St N BU300 IJtd Bwvs pf. 14
Hunt S 6 T. 10 Tin I'ss Bvvys.150
lit OTp. 16 vnr I & S... S'i
List o of NA 27 'j West Coal ... 75
Lev Tel pf . 60 W .1 & S A.. 45
LakeSup Corp 17'i Win Cramp.. Sl'i
iVcio York Bonds
lllch
85000 Anglo-Fr 5s '.7 'a
80000 Am For See 5s 'J'l',
loiio .nier smelt 5s 02 ''.
2000 Am T (it T 6s 91 IN
looo Am TUT OslOl11, 101 'j
loooArmour Co Has 88'4 88'-
10000 Urailen Coil 6s 96 9(1
1000 Bk Bapld Tr 7s SI
1000 llordo 6h . 100 ',4
3000 Cen I.either 5s 06 'j.
,1000 Chile 6s . . 84'.
fcJ0OO chile Copper7s 107",
4000 Uics&O cv 4 '4s 81
1000 do cv 5s . 87
3000 Chi (St West 4 61 '4
'28000 fill 11 or Q 4s OS,
1(100 f M&StP 4s '25 81
11000 do rfd 4'4s. . 7 I
1000 do cv 4 '4s 80 '4
16000 f Ity Paris 6h. JO
1000 Domln Can '31 07T
4000 (In '21 ... . 98
2000 Brie cv 4s SrA 4 8
2000 do cv 4h Srl 52'i
55000 Fr. nrh B 5'5h 104 '4 104
1000 Htul & M In 6s. 17" 17
27000 Int Met 4'ns . 42
loiiiiii li.t M M (.- . 'is i
13000 Int Agr 5s.. . 78
30 nl Kan Cltv So 6s 85
1000 l.lg & M T 5s. 91 '4
8(1000 Lib Brt S'js . 9'fr.l
linono ilo ev 4s 'i j s i
20000 do 1st Is. . . 92 90
670011 do 4 '4a . lib 22
20000 do 1st His 96 52
584000 do 2d 4'iH. 95 21
I2O40OU
Low
97
991,
85
lOOij
961..
8 l'a
107",
80 Vi
S7
01 'a
!5'..
81
72'.
SIV'S
98 T,
97 '
98
48
52
41'
99 r,
77'4
85
93 '
O'l 20
qi r()
92 80
00 1 I
96 12
14
to tho Alllis in a tangible negotinlilii
form, llo nlso said lwjiad heard the
plan commented upon favorably In New
York financial circles.
"Thero was ono point," said a promi
nent Investment banker, 'In connection
1 with tho plan which appealed to inc.
but which was not brought out In the in
terview. It Is thnt with such nn ur
Ir.ingcment thero would bo no occasion
'for another Liberty Loan campaign to
I again upset business at a tlmo when we
I want to do everything to adjust and
.build up business, and that is, if tluse
bonds of tho Allies wero given to tho
bankets throughout the country Pj sell,
and tho Government could affoid to give
l.lta... .1 rn lunnnllt.l CnmHllSSlOIl fOr HC'll-
t lore! Ing "'em, they would bo sold in short
97 order without any noise or fuss or dls
99s, lno.nllnn of business."
2 1. i Ricnltlonnt In this connection that
n ,iisi.ntci, from Washington Is tn tho
.met that Secretary of tho Treasury,
farter Glass has under consideration
tho removal of the embirgo on tho salo
of foreign bonds In this country.
91
101'u
88'.
90
85
1U0'
96 'i
SI '4
107f,
S0V4
87
6 l'i
05 15
81
7-"2
so'.
99
97 Ts
98
48
5 2 ' '
104
17''.
414
"9-
78
85
93 'i
99 20
'12 50
V2 80
90 H
96 52
95 20
better return could not be guaranteed
than under tho present unsatisfactory
arrangement
LOCAL MINING STOCKS '
TONOI'AB STOCKS
Bid Asked
Ilm Hutler 31 ,s
MncNamara .', ,28 ,81
Midway 18 .21
Mtrpnh Extension 01 .07
Montana 1.1 .15
North Star 07 .OS
Hep. ue Euln .0(1 .OS
West End -lis lli
GOLDKIELD STOCKS .j
Atlanta. 01 .OS
Hlue Hull 02 .OS
Hoolh . . 12 .
Dlamomincld 11 II OJ .03
Dal")' 1)2 ,,0S
Kewalias 0(1 .08
rn 01 ,.,02
Miearh'inl ..18 .23
Silver Pkk . ... .08 ,,01
MISCELLANEOUS
Arlzonu United . ,2S 27
Nevada Wonder H K
T.iupa Mining . 11 ,J3
LIVESTOCK QUOTATIONS
( hlrnco. l.in II 1IOCS necelntr.fM..
Ono h.ad Il.ttrr arailes weak to 5e lower
man 3esieriia's aerai.t Hulk, 117400
17(10, heaw butchers fI7 S.-.irw.fll: me
dium and Unlit butchers 117. 50017.60:
lliht ko.hI and chotrp Sl7(?17.50: heavy
luiiklne $10 71017 21. medium and mixed
lacktriK $17l1',17 4ii thrnwouts. 118
111 1(1 Mrs K"Od to choice $13 75016.50..
CArrl.E Iteielpts 8".U0 head. Compared
with 11 nock nso. Rood to best beef butchers
slrnnjr to 21e htuher low nrade "she"
stock 25c to r.ne loner, hulls, stockera, feed
rs stronit to L'lc hluher
SHEEP Receipts. 50 000 head Compared
with a week 1150, fat lamba and mature
Thcro was a difference of opinion
among bankers who attended the Pcnii
svlvnnla Rankin.' Associations annual
dinner Thursday night over tho speech
delivered by Frank A V.inder lp. prcsl
dint of the Nnt.onal City Bank of New
York. Tho majority opinion said ho
1 i...irt in iii outlook for
was 100 i.isr.i.,.3..c. "-,"- (f theleheep mostn' i.v to".lo hlherT'varits
the future. Tho manager of on. in me J5( ,o r(lc Mtlwr toclUnil lamb. 5a ni,n;r;
laigcst Investment nou-.es ... ...-.
r-m irked that If ho and his associates I'lti.hursli, Jin 11 HOGS Receipts.
. ...... ,1 .....I, . tftus theviouldnt SOU "'"" he.ol l.ower Henvles and heavy
entertained such views liievcoii'iiii .. k $(.ffliKHi. llKht jorkers, $IT.'25
I111.111V bonds Wo must no' torgct. he ,-. lc, n7Sn7 2.1 .-
1 ulilcd "lb it w. arc In a trans tlon period SIIEEI' AMI LAMHS Receipts. 300 head,
added in.uw. ";'"'',. 'huslness Steadj Top sheep $11 10. top lambs. $17.75:
I ns-usua'. ' "' abhough Ve stul Wh"!. ,'-n-, 25 head Steady. Top.
I had no cause for complaln.-o.ulto the --
conlrnrj , . Hrrelpts run head Meadv Calves Re.
Vv o nil nave our imu- 'j" ' ..-..- c. nus nm neau sienay. f.ti.'nuii.
id 'hut this Is no tlmo 10 let uinn
know- wo are blue, even for a minute
1 eniii.i h.ivn wished that Mr Vnnderilp
had let 11 streak of his usual sunshlno
2O40OD 4th 4.is.. 95 06 0164 95 60 inlo his rematks."
20nn'o v-nlrds 6s.102', 102', 102'. "v'Lr banker said ho was most
1000 Marseilles 6s..l0OMj 100'3 100U Anotliei ""'" ,.,' Wndcrl n's
18iiiiii.)li.ivalo 5s ... h ; 8U 88; agreeably surprised at Mr amicrips
7000 Mo I'ac gm 4s 62i4 62 C 62 ., ' remarks. Tho world, he said. Is now
98 T, 08 'i
88 88
43'j 43'-
1 3 '.j II
86 86
SO'. 80'.
78'j 7S'
102 102
0 2 1, 'i "
85 Mj 8513
8v, 81 ,
15(100 N Y f d II 6 90
1000 N Y N II&IICs 88
17000 N Y Uwy 4s. . 43 'u
SOdO N Y Bvvy 6s. . 14
1000 Nor Pac 4s . 86
1000P.I gin it 4'sS 89'n
5000 Pub i; N J 6s 78 1 j
30(10 Pierce Oil 20s. 102
1000 do 24s .. 92,
loiio Beading Is . 85 Mi
25000 South P cv 4s 8 1 3.
6000 do cv 5s.. .101 10-v,
1000 So Bvvy 4s.... 674 675i
6000 do as 96 'if,
lOOOToxas Co 6s.,102'j 102U 102'
5000 Third Avo 4b. 52 52 " 52 "
11000 V S Rubber 6s 87'i 87'i 87',
1000 do 7s 1031, 10314 103',
200OI S S. s f 5s 100 997, 99',
20000 V K of r, 11 & I
3'2s 1910...100Mi 100 lOO'd
125000 do new- 1919.1UHMi 100U 1004,
34000 do 1921 .... 9S'i 98', 0S'
6I00O do 1937 . .KiO'i loo, loni,
1000 Var-Car Ch 6sl01"j 101! 101'2
Total sales. $1 I'M lino, eompartd with
$7,050 000 jestenb.y Ih s week, $5J 52.1.UOO,
last week, $101 31.0 mill
RESERVE BANK PROFITS
NEW YORK COFFEE MARKET
New Y'ork, Jan. 11. Thcro was an
upward reaction In tho coffee market for
futures this morning, first prices show
ing nn nuvanco of 17 to 25 points
This better undertone was believed to
bo only natural after recent sharp de
clines In contracts here, and the fact
thnt tho primary maraets wero nigner
may havo Influenced sqntlment on the
call.
Open
May .... 11.30
July is ""
September 14 00
December 13.85
January.. 13.73
Birh
14.33
iilos
13 85
Low Close
14 15 14.21
14 10
14 01 1100
13 80 1180
.... 13.73
Yes.
close
14 05
13.85
15 75
13 01
13 38
Reserve Banks' Discount Ratei
Official discount rates at the twelve
Federal Reserve banks were as follows:
(The first column gives the rates for
nil periods up to and Including a fifteen
.day maturity, the second for a period
ot sixteen to ninety days. The third
and fourth columns are the rates for
rediscounts of collateral loans secured
by Government bunds or notes )
Com' I psper Oov. paper
. 10 to 00 18 to 00
10 aaya aays io aays da;
Doston
New Yoik
Philadelphia .... 4
Cleveland 4U
Richmond 4 V
Atlanta 4U
Chlcaro 4
St. Loul
innespolls. 4J4
Man Francisco... 4V4
Kansas City .... 4V4
Dallas 4.1
41!
4S
4II
4
4
4
4
4
4
44105
s
e 4V4
mss
u
Utility Company Defers Dividend
The payment of the dividend
Mia, Hallway ana i-ower c.ompi
innuarv 10 niralnst $126,545,251 on Jsn
ii.ii v 3 The gain came through tho gold
botllpmcnt fund
There was liquidation during tho week
III both bills seemed by war obligations (Local Feilcral Institution Mail
and in otnir otiis. mo imiu ueuig )in,
062.285 against $180,719,671 tho week
before As Liberty Loan Investors pay
off their loans at the banks tills Item
will show further reduction.
Batlo of total leserves to net deposit
and reserve noto liabilities was 46 4 per
cent ngalnst 42.0 ix?r cent on January 3,
I US R.iilPts. .1JIMI head. l'l is sUw
othfrs stead , heavy mixed nnd yorksrs.
JIS'.'I. ilKht orkers I7 7518 phrs.
$17 71 roukhs Sll'Wl'l SO, stags, $10913.
SIIEEI' AND LAMHS-Heielpts, 2200
head Mead) Lambs, $11018: a, few
$18 10. others unchamtnl '
Kt
Kansas Cltv. Jn 1 1 CATTLE Hv
teltits I'llOO ht ad Stead.
lioiis Receipt,, 4 vi) head. Heat steady
sterda) a close Common arade 6c to loe
KP Receipts. 50 head Nominal.
south (innha, .Ian 11 BOOS Receipts,
S70H head stiadv. lo strouner
CATTLE Iter, lots 2UO head. Steady.
SIIEEI' Recelits. 13(10 head Steady.
NEW YORK IJUTTER AND EGGS
New irl. Jan 11 HUTTPR .Receipts,
171'. tubs Iltaher scortnr, 70?7(it1c: extrss,
f.'io inside tlrsts M1, no seconds,
(I4',e Stale dalrj SlOSSHe, Imitation
creamer) 43W40c
BtlllS Receipts 720 cases Extra flssts
(,'c outside tlrsts Ii75fiisc seconds 62
t.ir reiriueriiior
lillrll. H M
i 4IHl 5IIC St
.,.. ..(southern ' Illte OSO,74c l'aclllo roast ivhlt
Tho railroad UIBCUFSion si'" seems iu 7-l(. olltt,iP nerbv white l73c; brosrn;
UUHllIlili" uto ....... ---
Klv na his opln'on of tho plans ndancetf
Dowitl i uyicr, uiuinnan ui
r.anintr thn Ri.iiitinn of tho irrcatest prob
lemi In history, and by no means the hirh.r
. , .. ...... ..n.l unl... Miiosttnn.s. nil.
least is mo li.uw. .in., .....,. .,-.- .
which are almost Inseparable
"I, In common with several otlurs be.
Ileved when Mr. Vanderllp strayed Into
that t'lcld In his remark", he would use
tho big btlck or the bU fl as a runcdy,
.uhon to our Bunulse lie appro iched the
his1 (subject as a statesman, reioguizlng as
f,7.i''ono of the big vital questions of the
... I . .u. t... ..nixmiinlnii lietweell can.
nay inv cuiot . ---- --'-
Ital and labor, that labor Is not a com
modity and advocating the grunting to
workers a larger share In the adminis
trative affairs of tho nation"
rerntor special marked. 4305!toi
. 1 5.1c No 2 naesile: checks.
tate while 7..7.1e western and
Illte (ISO'74c Pacific roast white,
le nearbv white tl.ttfMae! hnwn.
"hSIIJq mixed colors, 0368c: hennery
white 47r -
M0NEY.LENDIN6 RATES
l'lllLADKLI'llIA Call. 6 per cent:
time, 6?i06 per cent. Commercial pa-
.. eVsaiAA tr olv mnntli fifflid rtt ean
11CI, Hit CO IU OIA lliwimt sM" V 4V WCIIIj ,
six months, 0 per cent
LONDON Money is quoted nt 3 per
cent Discount rate, short bills and
thrce-montn Dins, a icoa per cent.
FOREIGN EXCHANGE
New Y'ork. Jan, 11, The Inactivity
that characterized the foreign exchange
market of late continued today but
neutrals, which had shown heaviness nil
the week, were a little firmer. Swiss
exchange was quoted at 4.8214 for
cables and 4.86 Ml for checks nnd pese.
tas were 20.15 for cables and 20.07 for
checks. Scandinavians wero .also a little
better held. Sterling, francs and lire
wero dull but Arm.
Quotations were:
Demand sterling 4.75 ,,, cables 4.78
9-16. Sixty-day bills 4.73)4 ; ninety-day
bills 4.7114. .,.,, . , .
Franc cables 6.44T4, checks 5,4614,
Lire cables 6.35, checks 6.37.
Guilders cables 42'4, checks 42',,
Stockholm cables 29. checks 38.76.
Christianla cables 28, checks 27.76.
Copenhagen cables 26 H. checks 264,
BANK CLEARINCS
Hank cltarlnxs today compared with cor-
onVlr. responding day It two year,, ,
Ihrouch T
tho railroad executives' commuiee, to i
tho Senate CommltKo on Interstate
Commerce, n well-known banker said
that what surprised him most was that
nfior nil tho execrations heaped on tho
heads of tho Interstato Commmcrco Com
I mission in tho past, when every one
i blamed them for nil mo evus wmen
Gooil befell tho railroads, finally forc'ng them
Record in 1918 to tho vergo of barkrup . etc, tim
,. . V .. t . , , . the above-mentioned plans Include the
Karnlngs of the Federal Reserve Bank ' "' ',"", , interstate Commmcrco
of Philadelphia for tho year ended De- ' Commission In a much more important
eember 31, 1918, approximated $3,270.- uition virtually as a court of last
000, being equivalent to 43 per cent j resort on overithlng connected with tho
on the paid-in capital stock. At the I " " s. ', nth(.r3 maae remarks
pnsent time earnings nre running at ""'"
Automobile Dump TrucKs
Wanted $3 Per Hour, "
10 Hours a Day "!
Owners of this class of truck wUI
please register with t
THE OAKDALE
CONTRACTING CO.
1410 Broadway, New York
by letter or in person, stating
number of trucks you can furnlsk.
tho late of about 100 per cent per an
num.
Dividends paid to member banks for
tho calendar year 1918 wero slightly In
excess of $400,000, and after pas Ing
these dividends tho bank had a surplus
of $1,304,000 and paid a similar sum to
the Gov eminent as a franchise tax
Barnlng assets In the current month
approximate, $195,000,000, while In Jan
uary, 1918, they wero $50,000,000.
The New York Federal Reserve
Bank's net earnings last year were
close to 100 per cent of capital, which
Is $20,820,000. After passing $,7,672,000
to surplus account. Increasing that Item
tn the 40 per cent limit, nbout $10,000,.
000 vi as paid to tho Government as a
franchise tax.
For 1917 business tho local reserve
bank showed net earnings of 28.2 per
cent.
Tho Chicago Federal Reserve Bank
showed net earnings for 1918 of $6.
805,081, or 60 8 per cent of Its paid-in
capital of $11,185,000. After paying
dividends $3,100,023 was turned over to
the Government and an equal amount
passed to the surplus account.
CHICAGO nUTTER AND EGGS
Chlcuxo, Jsn, 11. nUTTEU Receipts.
3872 tubs. Firsts. 7cj seconds, 66c. Mar
ket halt cent lower.
BARsEILVER
n
VetssievAMIiar sNVMaierV'iV,sasjseSs'sW
Have you seen the
WOOL DISPLAY
by Foreign Trade Department of the
CORN EXCHANGE NATL. BANK
at the South American
Export Trade Promotion Exhibit
t under the Direction of the Public Ledger?'
" a. vkin.n . mi rt ...
Ledger tcntrat Keal tit, trust oiag. umnm t
In the display are about 500 samples of Goat Hair, Camel Halr.Anfora.lW.
Mohair Goods, Natlvo Wools for Carpets, English and Scotch Merinos, etaoj
ut
V
,
OTHER EXHIBITORS
Phila. Commercial Museum
U. S. Dept. of Commerce
. !.
Atlantic naoBing v..,i
Guaranty Trust Co.
National City Bank'
W. H. RoWnso. ?'
onur
BTsaiaw? cr.-s
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