w rtf'it-F7' .'ryifiitfnuptvtzirf J-rY-fv ,-v ,tr ' lfl'1 Ut. If-ii C k p-1$ i 3i m &: i LAUNCH ACCEPTANCE COUNCIL Will Promote Credit Phut for Homo and Foreign Trade h. NV ,Vor,. Jn. 22. Tim American Triiiln Arcoptnnro Council linn liccn re iirirnnlrril hero nn tlio American Aeccp iHnco Council, with, new l.y.hiwtt mi Jnorlxlni: thn bmly tn Interest Itself In bunkers' ns well ns truile iieceptiinces. Tho nurnnro nt the council Is to pro liioto the use. of niventnnca In llnrtnclnc iiotli foreign ana iioitientlc trade, thtii providing fnr mi extension of crcillt ndo '.l"ft,fl i" "'';,3 American Industry on a llrm financial bavin In tliu tiost-war fctniBRlo for world trade. Appointment of a committee lias been ' EVENING PUBLIC LEDGER-PHILADELPHIA, WEDNESDAY, JANUARY 22, 1919 authorized to make nn Immcdlnte Bur vev of the 1'nlted States with a view to sefectliiR cltlea In which local acceptance councils will ho organized. Treasury Certificates Oversubscribed Subscription to tho fourth Issue of United Stntes Treasury loan certificate', which closed at noon today In this re servo district this mornlmr, totaled $43. 437,nOO, which compares will; the dis trict's qtioU of J12.IOO.OOn. Subscriber wcro nboul GOO Institutions ami little chanso It expected In either of these, figure when final tabulation l made. Altlinur,h tho nuota -was oversubscribed IHclalM epies rgret that moro banks did not participate. THE WESTERN SAVING FUND SOCIETY OF PHILADELPHIA Main Office -10th and Walnut Streets Kensington Office Front and York Streets Sevcnty-sccond Annual Statement. January 1st, 1919 ASSETS nUMr.fl.Ml f 'dhitBt'Jof An r v'."'?,,,,,'V?''rU -n" Cnipierte.1 l't 14.IHiil.ll(l i'j-J, i:,o on full,, (,-,,'" ?f 'V ,7' '' .?"',' ,' "'r.,v "' C""tl ,.4 , nis.i.M, u (.(.'.s.or.n iii, fi pj J,,"1, '"', 'V'Ji'' U'lrJ.,u!'rT, ,M" ''" iiss,l5omi 35U.OOO.OU lJjlwnV'"iM0f.A,.nr.ri,a .rlh .Liberty Loin . n.03.-..OSO (i-P h.,. i:; "' ..":. -.-"'' i"wt . i-in. - "l IIP "IP llnstnti jiiu.iii'U 00 (.'nip,. I. At . 1.1... . .. V l'-v el -i'l .s. ,t . cm nf. fd, im'-iii ft ?uri,.nl 1 in fanltnrv Iilstrlit. Jlun P r "tub. -J .""" ( nir.in, II Cltv rr IT. p noo on ...... .. i.. ...." l ir.ft'nn, . " ""i"ll. 1IPIO, ltonJi ; .Mntureil limr 1, UTave- Cltv Hill q 311.401 20 whi.ooo mi loo nnooo ... .... .iniiu.-i. .-niif.n a iia ii.hi t. .. i.n unn iui L'0 oonou linrr.......'. .. ' " ." i A.IJtistnient Is . inn Ton "" OOM-r .00.000.00 173 ooo no Nhi nil. T.n.. iJ,J'.,". : ..... i.nii7 3n t.-.n.noo no New rnsti,. til ci, ? ".".n', " (' "i"1 on 23U.OOIMIO K W , if T '..'V''1'1"11 Coini,lls,lnn H, ... . l.Vl.UOO 00 m.iWii GOSSIP OF THE STREET BETTER SECURITY MARKET NOT EXPECTED UNTIL PEACE IS SIGNED MATERIAL DECLINES FORCED IN CORN PIT illiliinniiil n 1'lly of .-. i n linn,,. i.'i mini ...inl.rla .? Indnti, II It. H, r, r. Irrlc p 3 p. e. VfrlM ll-.ll.l -.0 .loo ooo nn thm.i ,. '..". ' ""!"" ' !;?'" . . l.pf. noo no renin, ,r"'" V ,W t.V .y . -M"" ".'.! -' pi'r.i r. pi r lilt ini i, noo o 1IIO THIO ft(t ifxt nno no TT.'.itim no .Inn, ooo no Ann nini nn jno.nfto nn .1 lnn.nort 00 12.1,100 on LT.n.oon nn ,"inr,","l" " nfN' J (ifnlM o ,i ... r llr.nrh l.t J l-e"V .-;""-" ""- "i con. mo 000 oipr r,'J '..'.'. ,','.. '. '.. 'arlr. -'." ?'r (I nrm i-uti. nn ..;; " " ....n-iu illinium ,( lt i!"nl?!52 ('iffiBo iii:rie it it. it jn.- i in , ""'". ;imniond S. V.., rn It. It. ano.wiDoo ii;,sn, ln.ii.m ipoli ,(; LmiiIiiIIi iiu n.n nnn nn ..L, '. .' ' ' ' IT. -Prif". I' .... l-n o .""Bn- """5 T'-in'i ri.in. ny. C.pnl Wei 1, riu.ofiooo chin, ..:.......". vr' .""".' . MtK". Irf 00 000.00 '-.Jlan,,. tC,,,,,ntI. jjm, , V S,. ".i'i.J'V.VS.: ' i.VW 3..0.000 00 ,'l',r-(lnd.lr.ilii Jt IVheeiinir TtwT.'."lst"jirfe'.'r,;-nd'(iVnr. jooooonn rieirl iml & lliirlpld H 30 nno 00 J'Ml 000 00 ..0,000 on l.'.-.o nno on aon rioo oo rr. r".l ' "'"'' Oenl. 'nnnl. 1st Mlse. 3q ti. P('r. I'l Mice r, , .. IteMir. MICn lenl .MtBe. (1, A Conol. S20 one, sn vo.onn no 3l4,iS so 4 1 3 noo on .'I.3R'.' r.n Imp oon no .inn nno no L'.in.ooo no "T -.-.0 41 vno 01,0 no H'o o ,0 no 4IK.TS0 00 in; 073 01 200. n, pn 00 300. noo no n-.o nnn no I . 1.1 IIRA ,,'. 'V - . fc ..iv. pn ................. ....T.i.i. K y??fi-s ;' ytL,''?::.-- J sssjb Tiiii nno n i; 1 ir'V . . '" " " ' "nsoi. m p i;xtd. l, '10.17- .:""nnoni' 'v,nMnrn I'urtsnlT " ..1st Lln t;n ll', - ii,! 1 Er iS i:n Tr. ftfnl c. . ' li 1. .11 OHO Oil Cwonil lhl.rl I. Inn II T. .-... J.(C3,00On0 l.Vlj It It . Cnn-ol MIBn 'Prlor'l.ln Is. nnd'uVp' Sf,r c c ,fci: i: n,ui s ,:'?"' T.:rl" rittsburah rt It . iir.nl Mibo. si.V Sorlcs II lo.nno nn UnrkuiB nilov lt v .':, r i:V Tr' ' sVr' 'nf'inii ino.onooo iiniii,i.iii,..rn ii.,Hf..:. ..!.!...!; V. r-..nI ''.''. soon n i, ,: 1, i ,';;. r.,. ,. """,'::"U'i. . ..."t i"R"- !! !ln! 1.1! '"'""'r-1 iirnuimn r.o.,,t c....'ut M,"-A. :...:. ; 41.0 oral no .Iinnnn Prinklln & Clcniflol,! It Jt . I,, Miir ll n-.o .inn oo ,r. rr. r.,.,1 it it i.t Mtc i:xi.i .-.".!.' ' 20 nno no Knn-.iB ,'nv Trniin.il ltv, 1t 3!tK At 1700(10 mi l.iko ltn- S. 1V..M.rn P. It. i', n -. r:o Tr nf'l'iir 000 000 00 '''h1'It"u Jli.hlg.ut outh-rn Itnr, Wb""nturo 1 i"Vt j.ooo.ooo.oo i,r biKhVoii" & na;-: .'o'.- vin".; 'tv. 'v,: . v.' w;,, -i,0 , ..rnnnn ,1 nntllnir A itniiit Mir 4h, rnnol. Jlte U V iCScr I ljr..ononn l,,i-h f.- Vow riml..nd Hv . 4C p. c V.r Tr fierl?8 n iL ri ino.niin.no LrhlKh Vnll.'v It It , ronwil. Mtc- .Miiiultj rti f,n.ooo.ni, Lnnu I)o,k Co, of .V J roinol Mteo. (li . JI14.IKIO l il l Iinit llitnl It It lp.t Ooimnl. ,'m llfol PninAi'MlcV'ia" loo. iO) Ml.hls.,n C..ntr.pl It It. -, p -. i: Tr of till.-. ' :";2?o!!!! !!!i J."i-..i,k. sP.-.rin Noriim-.t-m nv., ut MiKn.--i,' ::;; (ll.o,Hioo v' lork Oinir.il I.ln.n. 4', i:p. Tr. of V.pio. 1013 lnirV -. p. ' Ko., Tr. of 1 ',07 s" " " l.'.O, (lOO.nf) Now Vnrk Central . Hudson ItUer Rwy , Ituston " Ul'.ii'iv'rt' . . 'I IL. p I In Tr. of 11.12 400.0,10 00 N Inrlc fotranliilB 11 It. lt Mle n.i. Iinonooii w York Im.k ,' . lt Mis I- .-.-.o shnro Pf.i siArk"' l.vi lion no Nnw vork Krm p. I: . im M,tr i:t.l 4 4 S. jiib" 4i,i JHI..I.HI no N, York X l,,l,nk.-n IVrrv Co, nnl Muro Is r.n.liiiOlin V. York, L.irkaw niliii Wwlitn II. It . 1i-t l,L-i. ','ii inn OOll oil Now ork l.nk.. Piln t. Vrfr,p CimI tt It 11 Co. 1st Utir fin 133,0,10 11,1 .. Vmk N.w lUvrn Hirtfird It It . 0 p. .' Pomrri lloli, ntun-H 41. , , i:, Ti S.rlisCC, It. r.ll MMr... stok- lOllOnoOil Vw Voik X Vnrtli-rn Rm lt llloo '.- l " K 1,00,00,1.1111 .N.w York I'hll.li i Norfolk It. It. Int MIRC. U X In r Stork Tr C.f .',00.000 nn Now lork Short lino It 11 1t Mliro 4 II ' 'iVrmln.,l lt .Mieo .-,.& p. c. Kfi"Tr! Kit. .MIb. C!ll 000 00 Now York, tfuml V,'oril rt. 4 1'. Pd. 'I'r. SnrirH C 130,000.00 Norrnlk i Smith, m rtws' , in Mtuo. ,',i i. r, S. rlos A 500,000.00 Norfolk IVoKlorn It. It . lot liter. (I. InipM. H (1 r Ww llllor Tllvl.lon. la. MPc- lU inn.nnono North Ki, Cor chrinut St. and lirm.i st . lit 'Mtco 3h . f.n.000 III, Northern Contr.il ltw . nnnl drill MttT. 41'.-. Sor. K ... a.-.oooooo Norihrrn I'.ioltli. (Iron! Nnrthrrn c. II O Coll. Joint 4s.. L'OO.nnono , ifrdnvhurr Lako Chnnipliln U-., In MIco. in loo ooooil Ohio Pnnnortlns Itnv. ll Miko, Is loo.noo 00 firoKon Short Lino It It . rtpfdtr. 4i 1,330,000 00 Pennrjhanlii Comp.nv, ia p. c. Loan of I'll.', (Anclo-rronrli Loan). 1st XllBO. 4 4 p. ,' 13-23 r. Ininll of 111 111. 311 P r, lilil. Tr Clfn Scr A. nn.l II sn.ono 00 Prima. O.norjl Vr.Mclit m i. . i:n. Tr. of mil 1,430,000.01) lVnn"han! 1 It. It. Cinnl JltKe. .',, Coni-ot. Miro, 4.. Cnnwl, Mtpo- 41, of 11,13 mn.nnoon roimM .nh. .Vnrtliw. nt-rn It 1: . (lonl Miko. 3, -nit.iiiH, (111 l'lilLuln It llalllmoro Control It It. in Mtco. 4 430.OUU0O I'lill.i.. Il.illlmorn i. WfirhlliKtnii It. It., In .Mteo. U ,t 4 p. c. Sorlal Loan , , inn.onnon riiiii.ioinliii Lloriru-c,i . in Jiico H r, .', 7110,11110.0,1 PhlladolrhU Krlo It It. 1t Ml Bo. I!" 3 .t (Ion) Mtpo 4 1in.nno.nn Pliilail'IrhU Itanil Tr.mvlt Co., 3 p o r.n Tr . Sor I A II . 8uD.O1IO.OO Phllndrlnhli Roiilim,- It. It, Cuil'nl. MIBO. Ilxlomlril 4 f, l.nmt. llliro P.xtil .11 73,000 00 IMlll.iilfll.hln, Wilmington f. U-illlmorr II. T. , t p c. Slock Tr I'lfn ino.nnn.no Pin Crook ll . in Mite 3. 073. 000.00 I'lll-.. Cln . Chlugi. & ssLnul.1 rtwv . fonnol. Mtco. 41;, Sor A. II ' C . CoiihoI. Hjpo 31 ,, Sor. i: i. Con,il. JltBo. 4i forloa (1 7? 400.000 00 nttpjhurch YnunB'ovii & A-litaouU r.nv., Cotirol. Jltse. Ss and In (lonl. Mtco. 4. Sorlos A 100,000 no rtondliiB Conipiiii. .I'rt"' ( 'ontr.il Coll. Ii Sfio.lino.llil Ilkhmond-WarhlnBtnn Cn 4 p. c. (ltd , Coll. Tr 140, nnn on si Louis. Iron Mm Kill Itvn . 1'nnml, Land flrant Mib 3i "OO 000 00 St. LouN. Pooria Xiirtliwenoni Hv., in MIBO. 3 ... ir.o.onnoo Mhujlklll lthor Kant Side It. It. Ht Mtso. 4s lllip.lllio 00 Sonhoar.l .Mr Lino. 41, p r K, Tr ir.O.nnomi Slldlnnkin, Sunburv t Loll,unr It, It.. 2d Mtffo. Hi 4l!(i, (Kin nn Sinllhoin rtwv . I'a 1 , lol Ti . Soil. Q T, l 7o 000 00 soutliorn Pitrlil c. s,n lr.uulico IVrmlnal 4 and 4L', por ,rnt Kf, Tr . Sorlea 200,000.00 Terminal It II Ao, of SI. I.ouIk. lt JItBo. 4iJ and In Coomi! MIko. 39 r,3.ono 00 tiob.i it. it , in hibo. i:id .'. 311,1.0(10 nil Villon PaUlio It It, in Lion P.of.lB Xltiro 4 r,0 (mo 0(1. Vnltoil New .lorso ft It. nl.d I anal 10, .lonl. .Mtso. I , -,() oon.no VamUlU It 11.. Consnl. Jltiti-. 4h, Sorlos II nn.ooo 00 whah it 11, in mibo. 3h ton nnn nil Wiihiiiton Terminal c , 1t MIbo. m '.1 . lOIP.OO M'fpl Chter H. It. 1t MIbo 3 r,oo 000 on Wenorn Now Yoik &. PounsiUmila R. It . In Mtso. 3 . . 100 "noo 00 Wen .lorroy A Seanhoro It It., In Con. MtRo, 4, sorloi. A I iihi (Miniii) Won piiiu PiinKoimor imy r, p. o .Miko, iiih1 40(p'ooo on IVlniiton-Saleiii souililiound Itwy , 1n MIb. 4 4;tll'7K7 31 ltoal Kn.ite, (Ifllie HillldlilB find other prop'rtlei. r.itl'OO on T. mpjrary Loans, i i t li lollutrral , S.nio.Tun oi (-'"''i on nn no 2i 2iio,n,io on l..o,.ioii no it. I or,? 20 1 71' 7nn 00 2 1. 2.,n no 3". 7"0 22 111 37.1 70 2i0 23il 00 mo nnji nn ..7.1 jnn on '.'in o'.-n tin 21 7.".n on KW.II37 30 r.so.o.ii.;: f,n 1 7.-,n nn 17.1 on- -, 1 3n nno nn .'.(.ooo on in.. s..n 2.. mo ooo on 282.81(123 073.733 S1 140 r.sT in 37.2'in nn ,ifi.rnii on 13o.,,no no II't.NTO 21 30 ooo no ion noo on 1 in wi in 11111.000(111 377. 100 no 300.01m on 201.000 ro 117.121 R1 2nn onn on loo.fnio no r,n noo 00 .111.73,1 00 isi noo on i'nn nno nn 02.312 30 1,232 117. r.n 77.TM.li: 1.443 on on 100 nno no 1S3.T30 00 440.212 4.1 100,000,00 Too noo on 10.1.2J1.H1 300,000.00 71.730 no 200.000 00 1.03S 230 00 3RR..1II.23 nkin nn 2SK.230 M 140.000 on 200 onn 00 1 1.1,73(1 no 1,10.0(10 00 I'.o 000 00 139.30- 00 525.032 10 100 k73 00 33 oon on 2HII 1,17.3,1 4,1 73,1 ,10 i'.m 713 00 .",0,0011 Oil 6,10. 001, 00 23.000 00 300 11,10 00 112.000 on 1110 000 on 374.T13 44 4.11,. TUT 31 314.700 00 2.040,701 III Philadelphia Hanker Also Believes Nation's Money Sit uation Must Be Settled Before Improvement Can Come Gossip of the Street OPKAKINO of security inarltct comlltlono, jotcrilty, a banker iUioso nnal sis of nny lliinticlnt sltiintlou Is recoRiilzcrt nn unusually clear cut Ml.l lie "did not look for much cliansc In picscnt conditions until tho end of tho Peace Confercnco mid tho clcarltiB up of tho money fltuatlon. "'With a $.",000,000,000 or $6,000,000,000 ro eminent loan pond Inp," ho said, "there Mill bo nn money available for the f.peciil.lle com munity, Tho money oonimlttco will attend to that, and with vlrtunlly every iiIiufc of builnes Invohcd In tho outcome of tho Pome Conference, financiers, manufacturers nnd merchants 1110 not colnp to malte any blR moves until they see hat Is roIiir to he the Hunt outcome and how It Is RolnR to affect their pirtlcnlar line, 5Iot peoplo tuerloott tlto rttipen dous hnportanco of this Peace Conference. They do not Rrnt.p tho Idea, that It Is a world confercnco nnd that tho future business not only of tha ITnlte.l Slates but of the whole world Is to nn extent in the balance." IIo said ho was amused at people talking about labor ttoubles when really there are no labor tioitbles. Tho two cardinal points on which the future hinges, ho leninrUcd, nre money nnd tho l'e.icc Conference. In speaking further about labor troubles, he said It was an accepted doRina of tho stock morkct that tho tltno to Jump In and buy was when ii ftrlke was on. Union Metallic Nolcs to Be Paid in Cash Ono of the Mirprlses of thn Street csterd.iy was the announce ment that tho RemlnRton Arms Union Metallic Cartridge Company would pay off In cash at mnturlty on Peliniary 1 tho $15,000,000 three-year I". per cent notes. Tho company, It Is said, has In Its treasury almost enough cash to pay off this obligation, and Intends to make up the differ ence through a sninll bank loan. These notes wcro brought out by tho National City Bank and tho Guaranty Trut Company of New York, and nre largely held by Investors In this city, I'innnelers wcio recalling yesterday tho troubles of tho Kemlngton Company toon after this note Issue, when virtually a re organization of tho company took place nnd tho market for tho notes fell away down. It has been turning out rlllcs for the government on a large scale, nnd the payment In cash of these notes Is taken In flnnnci.il circles ns nn Indication that profits have been satl'-factorj-. At present it would s-ccm as though tho ni'ltlh (!o eminent would not be called upon to redeem In c.ih any part of the $2.",0,O00,000 loan which matuies on I'cbruaiy 1, 1019. Tho-.e notes, ns mentioned In this column recentlv, carried an option fnr com erslon- Into twenty-yenr C per cent HritWh bonds. In February, IMS, $100,000,000 matured nnd wem paid off. Of the rcmnlmler more than $.".0,000,000 hale been cmiveited, and It now appears that a syndicate of bankers has been formed by J. P. JIorRnn & Co. to take oer any which may remain uncon cried on Pobniary 1 net. When these notes were Issued tho Prltlsh Government placed suffi cient collateral to hecuro them and It was said the first $100,000,000 wcro redeemed by the sale of a pait of this collateral, but that In the present condition of tho security market It would be too much of a Micilflro to follow this plnn with the ieinaliuler. As an Investment tho twenty-;, ear l per cent bonds, Into which these notes aro convertible, are regarded among financiers as an exceptionally good linesttnent. The formation of the syndicate to purchase tho unconverted notes means that tho holders of tho notes who do not uv.ill th."mselos of the oppnitunlty to coiuett will be paid In cash, nnd the action of the banking sjndicato In taking them over shows their confidence in the future of the bonds. In tho opinion of many Philadelphia bankers, Opinions on Next Government Loan There seems to be some satlafactlon In the financial district over tho announcement of Pccretary of tho Trc.isiuy Carter Glass that tho nest loan tho Victoiy Loan will bo the last; but there would have been still moro satisfaction It at tho mmo time lie had given somo Information as tn the terms of the loan. The thing which most Interests financiers In connection with this fifth loan Is the into of Interest which the govern .ment will fix. The next mot Important Is how long the bonds will run their mntmlty. One banker expressed himself yesterday on the matter by F.ivlng he hoped the rumor he had heard h.i.s no foundation In truth. IIo had heard from n good source that a (.hurt-term 3 per cent bund was con templated. If .such should bo the case, ho said, it would cause de moralization in tho lngh-grado bond market, especially lailroad bonds, ns they cannot compete with a .". per cut government isue. IIo said he knew hundreds of thousands of the bonds of high-glad.- Issues weto ic.idy to be dumped on the maik.-t if the Victoiy I,o.in should pay ." per cent. From tho government's .standpoint a u per cent short maturity bond, ho said, was Ideal, ns they want a .speedy distribution, but ftom tho btandpolnt of tho country's essential corporations it would bo disastrous "What chance," ho asked, "would micli a high-class security as tho Pennsylvania Itallroad Company general 4s have In competition with a government 5?" A great many bankers fayor a rato of Interest not any higher than the Liberty Uonds now outstanding, with a redemption feature nt a premium above par for a certain number of bonds to bo redeemed or paid off each six or twelve months, with the drawings publicly announced. Others object to this method as savoring of gambling, but the same method is used with evidently good results by such large and leputablo coiporatlons as the TTnlted States Steel Corporation and others. There aio many bankers and brokers who aie not so certain ns Hecretan Glass seems to be regarding the next Victory Loan being the last. They maintain that, while it mny lie the last big public loan, the government will continue to need large sums of money for a long time, but the necessary amounts would probably bo obtained through notes of short maturities negotiated through tho banks, somewhat as tho cer tlfleatcs of Indebtedness are done now. There ate others who favor the British method of a contlnnous offering of Tieasury bills .sold over the counter. 47 043.OS7 4J Total ... LIABILITIES , .4ll.IlllO,T73 l: D'poMtn. .im lermhr, 1H1S , Interest Bdilrd fur ll'l1 Hun to nononllom, Jt Janunry, at, in .J30.2I7 n47 si . , 1,331.303 117 1010 Inminl i.i ;iart ii(iit ol 1'aurlh IMcrlv J.uan Bowls tought, Muulu 40 308 fit 3.02 2.7U0.0OU 00 3,008,130.20 Total Sill! ,77J 1: Certificate of SubitorS nppointcb hp the Court Thn iindrralimeil. Auditors B,potMl by the 1'renldent Judgm of the Court of Common rii.au of I'lillailolphla, to audit and settle the account! of Till! WIISTKBN SAV1.VU ru.ND BOC115TY UP rillLADKM'lllA. for the ear 1018, liavliie been duly orn aaordlnn to law faithfully ro to do, rertlty that tho Aaeeta of tha KaUl i-oclety, at the loe of buslne'i on the thirty-firn diy of December. 10ls, have been examined and verified hy them, and that the ont thereof an ret forth In the above stchedulo. ogrees with the books and the balanie sheet of the Poilety. The amount flue to depnsltnrp, Including Interen nn the first day of January, 1010. and the Hurplui or Contingent 1'und ore correcily rtute.t and are In agreement with the books nnd tho balance sheet. JOHV n January 18, 1010. JOIl.v iiincki.KV, . TltO.VLH HIDOWAY. Auditors Appointed by the Society The Audit Company of New York MANAOKrtS c sTt'Arvr PATTnnpo.s' itonmrrM jannhv a a .iacksov JOHN sncmV JI1NKR CLUJIILVr II. NKWHOt.D AllTHl'lt VV. HKtVAT.Ti WILLIAM W. rilAX.ICrt laxlAHC I'lll.TON KOI1VIAN 11. (IHIHCOSI joski'iio ni.vLLV I'liAULKMAii.Miiowr.n. rniiDLiticic riiAi.m, m. d. "vi.rnnu c HAititiPov ciiuihtia.vo. rKiimuii iviu.iam n. iiiii.m:r .ir.omir. it. .vii iwiidkn i:ivinh sti'aiit williamk itAMiionrjfn iiKOitdiiri'AitT PATTiineON i'iLni.i:s a. imi.M.r.r n iiawho.v coi.kuan IlA.NIJAL .VIOItOA.N HAMUKUT I10DINK JOHN W. (IHAUV KVAN ItANDOLril oFrtoRna c. STUAItT l'ATI'LItSON, President WiL K. ItAMIlOHfinit. Vice President and Treasurer ItOllKIlT J, mtUNKIlll, Becreury and Assistant Treasurer KltKDKIUCK F. HALLOWKLL, Comptroller and AsslsUnt ecr(ttry J. n. NAULTY. AsslsUnt Comptroller JOSKPH 111 TCVWrVHKNn. Jn.. RnllrllAe (THE RATE .OF. INTEREST FOR-XHEXEAIV; 1919 IS 3 65.100, Philadelphia Marhcts GIMIN AM) 1I.OLU Reports That Large Shipment Will He Made From Argen tina Cause Selling IiIcrbo. .Tun. 2.' -tleportn that ton nago lia.l liecn chnrtrreit to lirlnc 1 noo, 000 hiialielH nf tlie crnln frnm Arcentlna tip tlm t nltol Stums rnuscl jrrncrnl sclllnc of enru tmliiv nnd fnrc.l ma lortnl ilK-llnes In tirlcrs follow inir a alionger slnrt. The InHurneo e.uly wn unp.iF(n.itilv vviirni vvcnthrr ntid soft roaili In tlie country, lending to te.un that the move ment would l,o rllllloil, pspecl.llly 111 r.irmeri were said l,0 OIH.it if1orl with current ftio(atloti! mem nlao vvn soino (ctmlni limn WIIHAT Itecelpts 22.111a 1iU"le' The innrknt vvhs nulni but nn, ee ruled Orm (juotallnns were Car lole In etport rtnin Inr. (Invertitnnt slHInlllipf Inepn, linn, elalul nrd prices No. I rd wlni.r. $ 39; No. 1 norihrrn prln 12 3d. No. I herd winter, IS an. Nn. 1 red wlntrr. sarll Ky. .. No I r"d smuitv, 2 3.1 No. 2 ml winter 2 .10. No norihrrn eprlnir, 12 .10. No - linrd wlnfrr 1." .1ft Vn " . .1 ..Inter atT lleky. J2ai. No 2 red. emulo. 12 11.1 Nn. red wlnier. 12 32, .No .1 nnrili.rn rpriim. 12 .12 1 No, 1 herd wlnl-r J .1.', No .1 red wlnier. garll.M', 12 1". No II rrd smult. .' 20, Nn, .1 red, f2 an No I. sarll, 1. I.' 2i .No. 1. s.nlllty. t.'2i. No I. Rr llrny. einuttv. 12 2,1. No .", red. 12 2V . V. rsrllrKy, 12 2,1, No r.. Miiutlv f2 2.".. N" ft. fitrllrkv emutl. 12 21 Cf,n.V lleeelpis. 21,111 lmli.l Demand wK llaht nii'l ,rl rn vvre : Inn r undrr cneral preeiir,. lip si'tl VV , nunie v,llnw In car ln for In.al trad". Be to nu1!t and Inreiir,,,. t,t $1 f,ilffl M pir buMi OAT-Iteielpls nn lil'l l,nhi. I ti In.ir set detllned (e under lower western iid vlees and ,. Ilalit deuiatid. Ve ,,nole I i7 lots n to IiukIIoii. Nn 2 whit". THlP ,' elenrtnrd while "T' (tf " N" II vmi I Tllv:;r No. 4 while. iflllMi VUll'll ll.eeil.ta. (1(13 101 lbs In W,'U There wae l.llle .IoIiik nnd the mark"! favored huver Uiiolutlnne To nrrlve per I I'll iil.ntii ..,......! e "... ' pound In Unpound eaike Wintir. stuilali' .. ............. .ni.rviien. lun vrr, western. lli,2.-.i in M. lo n.erl,.. jip . Ontlott llnvcri ami Sellers New Yuri., .Tan. 22 . .I.inuary Downs nml llvm.ui lil.l; JluiiUlim, r-'chlll mill ( one ofTered. .Vlnrtli NVvvmnn. Orvli, nrools. Cr.ne nnd II. Ilulilinrit 1,1,1 ; llartlett, ItiiKicll, K.-lffor. Morrinon nnd Wnthlns offrrfil Ma Miimli, ll.vninn, llartlett, Vnt l.lne, Alir.iliam. (Hover nnd Conn bid; Itountier, JohiK'in, NVvvmnn, lleer, srhlll, .linlenn, lliookf, (". VV, lllelta nnd MeKnany nffried. October llvmnn. AVntltlni. Ilnclie. rreilcrlckson nnd llrnokH bid; SebTll. (Jeer, riiirnett, Mellnnny, Klnptcln nnd Jay offered. H Mate Cali for Express SlocUioWerP New -Inrlt. .Ian. 22. Thn. Unlti . Slntcp) llxfrca Cnmpnny will make il .,i alxth I'.irtlal distribution of the bmA Ti 1 nniountliiK to l.2B n aharo on Fcbruat , ',1 21 tn wtnek nf reeor.l February 1. Tr '"t' illKhurpcment will mnkt- n. total of fSS.l ti aharu alncn the deelalnn of tho dlrec tors to Uiuldate tho business on Mart) 13, 1911. T 11AU SILVER Commercial bar allver In nuoted Vew Vork tnday nt II. om, unchanged in Lottdon nt 4",Td. unchanged. 5 'im sm.tiinesH of atoMta Venri.l.iy'4 n,,v .nvermc movcmi'iit loft the -inr-kci pretty well evened u, and beai be. riinin nKKreselvn le.iehiiiK slop-lonH ur flers In the handi of fninmlsslnn liuiiie. ( am bu.vcri hern vv.-ro tint inrRneil to P.iv the rales asKcd, and th actual article nt lvan.is City was vvt.ilter. Sharp recessions occurird t oats nfirr n llinii-r plart. Ilnusi-a with ent ni ..innoclliins wire h.avv sellers', til tni. Hmr pre-suro from lm.,1 l,ear of. feHiiKa frnm tho lountry re.ji.ilncd Mo, I, are liberal nt primary .enl.r. '"il n KI-..U ppiiimrllon .if Hi,, nipniics tun Mipposed to be rxpoit nwned. Iteporls were current that the d,,iiie-tl .nni export demand for the rash art, le had iinptoved. T.eidiiisr rutuivj. ransrd as fullows: . urn .new neiiv erv 1 . yf lllk'll Ifc.w Clo-e rlo-o .131 1 27-. 1 2S", 1 31 -, 1.2T", l..-2'j 121 I 2I1 .1imm 1 .!.'. 1 2--I. 0'!', l'-lv .... III,. IVI .M.,v . . Lard .lell . Vim . ltd. Inn V1..V . 2J 2,1 2J 21 Tori. Imp Mtiv ,4(1 nn In ;jti Hid. .k-d $111 Knnie etreluhl. 11,1 .".nfl 111 T", d ehort, retent tin T.vti II, sprm hor, nii- ent IIO 11,11(1111 llll do. patent III) 4MH Id Ii. do first rnr Jll JIIW'., 7". It VIS ri.nril was dull v.nl iirehance,! VV r nuole at $ ;,-,yip m pr lrrei. In sail.'. to ,lalt, PRO IMONS The murker ruled i,adv. wl'li a fair J"b b!n dnnnd The nuolallotis were s follnits ,'ltv bepf In sets, smolted and nlr .iri.-.i ,,(. wesirrn neet in m. nu,,,R-,, . t. cliv tvef knuckles and tend. r. smoked end Hfr-drlo.t se. leef limns, ton; perk. fHlllllv S'.t."i,l; lifims. fl P. cured loese, SO'j 'f.1-i,. do, skinned looso. :inv gMT'sc d". do. rmokril 3'.i g3l.iic other ham, smoked, rtty enre,, as tu brand and aver- see, jai, '(tSO'je biiins. smoked, western cured .IS'n (K.llOie: do, Polled hornless. 7,2r I plrnlo shoulders H. 1', ,urd lnu, 21ic, do, 1 smoked 3,1c. I.ellles. in plillc. Lose, 3.1ei 1 breakfast bjeon. cltj cured. 13c. bieakfast bacon western ,ured. 13c. lard, vlrstern. refined, 2fti j (ff'Jfle: lard, puro uty. kettle, rendered. BM este . ItrjIM-.!) Sl'CMIS Iimnnd was meder.ito ..nil prl es wer liriniv held on i b.irls ul li, for lino hfunu- I i)tn' 1'Honrr.T.s ..ii', ii;ij 2.1 111 .11 Ill's 011, .,1 il.iv. 2.1 20 2.1 1.1 2.1 .;., 2.t ;ni 21 tnj II. ,ll) 2.1 20 2.1 2,1 2.1 Ml 2.1 .IJ 21 21 21 in a-. IK) tn i,o THE BENEFICIAL SAVING FUND SOCIETY OF PHILADELPHIA No. 1200 Chestnut Street Incorporated April 20, 18.' 3. IIKimi: supplies wer. small nnd " lliail,t rule,! firm, with demand absorhli th cfr.rlnns of line held stn, k fju ,liitlon .New Vork. whole-milk, falicv. Ii. Id as. sp. '.,'.",' h"her do ,lo. fair to bo,I. f i . sli a. Ii .1,'ji VVl,'onsln whole nillll. fm. .Tsi. vl, ill. fair lo Kood. DillK'i, lll'Tri'It The market innlitm.d weak and pn,.s fnrther ileclhi..,! .1. under .1 lmbt . ,1'iinnd mid kpiltiiI pr.ri.ur. t,, -II (Jim I iiill.ni- u,illdpaiked ,r..iin. r. on 'ras ,sr lilcher-sforlnn proud". ".Mii',1, tin , le-for for Jnhliltiit sales, extra Orst- ."..'.fn r.T. urns, r.ivi.iv e,.ntli, r.ir-.v. rap.'v , , nrHii.is nt i.rtuiK Jubldnu nt l,."l',, . t.lr t ' I ann, .,!',. .11. I I Kl'.llS were stendv with a fair dennnd (IfferlnifS were Ili-Pit Onol.tliins lr. , . "iv. ne.,rlo firsts IIP ,",(! p.'l tr.tte, cur ! " oriier io nurnrl I, livers, the ble ilrT 1 '"'' r,..elpi IICOvt ,.iw western 21 -il 2.' IT 11 .-. ID li BUSINESS NOTES 'der tn nttrnrt linvera. the I cooda maniifaiturera nn',1 Jobbeis In th ' lrH hrsts nn r,n per .an-. tiris. iispiiu no-ton district hav.. dropped ptl.es of !,,'s':!;.,! la'.l.".'-. ,"f'r'or lo",1 '"er smiili.ni their rommodltl.s from 2r! per cent to , , Z '-- '".., VS.'i''"1'" ,"J fr,',", Jub" .10 per rent. Uoalery prloes have been " ' ' '" '??"".. rut JO per cent and iiiulcrvve.ir (piota- I'OLMItl uons mill matikft prices will bo read- I ivi: -The fl imrkei nd, Jusled ilnunvvnril shortly Mills have demand whs .,nlv m.Hieraie et been cloiiiiK down ns a result of caneel.i- I ""V other kinds of ix.ulrtr llnna ..f Kipvoimucni i.intr.uts for army I,0li.V,n',n,V,!:M.i!j!!l'',.?s"pT '""." and navv. . . T1" "'"' u'l-'Htv -sir .11 . rv a,m "" hlah.r. I.rolllmr Uil, k.ns fanrv, "r,grrp..-,--iw r -' t IVI! -The fowl tinrkei ndviimel 1. but I leu, .111, 1 WHS ., III. 111,,'lrr.. 1.' t revlSMl tlB I urrs (Pther kinds of pmulrtrv vvere mil. 1 w Is a. ror.lln . ptlnnil In," I ...r. nipu , . .1 w.'lahliur P-'OL1 M,h btilp,. iJ.4iMsn .nrlnai lleilii.r.l nieaii frelclil rules liver vpi- 'hlrk-n. ., v . r., (; soft incut.., I 2H'u's , r rills r.illles. Inclndlni- li.ii... l. ..,..( .1 , ... 0 ' "t.lEKV voilli roosl, r. 2.11 2". old t.i.isl. rs. on .ntniii..,lltle ... ll .. i,i..i. .,.....'. r.'.V.r,r '' . I'ekln. lllsidsc. do Indl in ....,0.1 . .V.r.U . "."..:." "."" '.V "" r- -'". 1 1 ,..i... ..j ,ii 1,1 ,. ...iili iici uiK in,' com- "i .it,... RintMiK. inep.ci oi mat .ountrv. wcio .immuncd today bv tlie shliiium; board. The n. vv lates follow- Cotton fnmi Ami-i i ,m Miilf poitH to fihciit $:.,10 per liundipd PoiiiiiIm; phnspliate ii.ck fiom FI.ii Ida to Antwerp and Client. $40 per kioss ton: .oco.inui oil from iirtlt Vtlantlc pti'ts to Antvurp (and Itoilcrdani), $."i0 per Ions ton; toln fiom Ann I lean ports to Liverpool, $2.8(1 per hundred pounds; pine t.ir and turpcntlni. fiom Vtl.mtlc port.s lo Liverpool. $3 p, r hundred a.'i. ;n, . turk. . .n i iliur. p. i pair VVitahin? 1 lllCl 1 .1.1 -mailer sir e , ul.l, per pilr. '.in. 'n l pair, in'tlLI'., do, jouni; ...t.- ..-. .....' '"l'.c. w.lq-hlmr i.. . .inc. i, ,ci k'"-s ion ; coin irom ;ti,,. vvL.titiie I'-s ic.' M,s iipl i.ii, i.s irulm rtn PUt'iin. eld ,,.'r per pair 3111 lnc IUli:ssi;, I'llCLTUV r.nvl- w.i 'j, lower Mid n,hr ,I"K, rlplions V ere quirt HI former rel.s 'rho ,Uit;illuns w.r. as' follows Turkevs f.,ncv nenrhv, 1lii:., . do western fanrv. I35I1I. , do. fair lo Pio.id. 3SSi I2i . do commim 3,M 3.1r old l.illia, .'isitlllle. old h. US ll'HHI, : fowl", fre-h ktlli.l In l,oes, welithlnp; I'i lbs and ov r np, e, 3V. welahlni,- I ,1s u.,11 i .ll'a'. sni.illtr "lies 2sf,32i'. Ir all kill."! pounds; coal frnm American culr ,,,u !""" ''i bids, fancy. lrv pi. ke,l s.1,,1,,1 I II, s iimp.'o :ri' . r km. sles 2s7l.1'lc old roosters drv.pl, ked 27c lliimptim Ito.nls to ll.ivvall.in Islands, S20 per ton ; t.iniiliii; .-vtrncta from Cura cao to New V.11K, ?3,p per loni; Ion; bar lev from the l'.i, ill" Coast tip the I'nlud Kininloni (for tho lti.pil administration). toi.oti .1 slioit ton. In spile of drastic export rcRiihut.ins In., to tlto vvir, the total expotts for Hi" I nlte.l Slat.s in 11115 .Miownl .1 ilem-aeo of only $S3 000 OnO, as iiimpur. .1 with 1017 Total exports for lh war were 0,i:,0 Ofni.fioo, tin. Iifpaitiiient of Coifl nu rce .in 11011 need tod.iv Imports for tho j en r were $J nill.OO" niio, a ualu of TS, OOO.iiOO over tlie pr.vlous jcar. The. llrow n-Iloniiell find llessemer le p.irtinetits of the Itcpuhlle linn and Sice Compnnv, at YniitiKstown, (p., which hail been clos, .1 down for .1 Weil,-, resumed opei.itlons todaj. The slliiattoii III scrap Iron and steel 111 lb.. riltKhiirKh illstt let Us badly de moralized C.insmneis ev it.i'e almost no Intel I'Sl 111 vvh.t is nffcie.l The marKel now is off some 110 to $11 a ti.il ft.un Hi., last (.'ovininietit maximum quiit., tlons, but ns ve, sliriws no Mens of hav liiff lea. licit a botloin fHllforiiln's tietrnleiiin pro.lu. lion .if crude oil in 1'ilS, iiccirdlnc to Stand, ml nil llcuris, was 101, (,37. s.o barrels, nn increase 01 tr 1 1 7 (if I. .170. 380 barrels. There Wfin (ompleted flurliiR tots C!9 new vvells nnd llfty vvtre nbaiidoncl Total 1 rud.. oil sto, k on hand Decem ber 31. 111X. was 32 042 92,1 barrels (is-auist 32,1.10,403 Pocembor 31, 1017, a dtcre.is.i of 407.r.4.'. Dunne Dtcctn-ln-r. I'pIS, tlur.. were SilOil vvclla In oper ation whhli produfed an nveiaire of J7,.",si; bartelB dally, ncalnst .'77.018 in Novtinbcr, a. dci reaso of J(J2J barrels per d.i. Toial rlilpintnts from Caliior 11I.1 lb Ids (lining Dm-einher were S, Ul, IC3 bancl.s. IVileral Jiuliee 1lner, In I idled Mote. District Coiitt, has appointed William II. Ilurllmit leceiver of tip. llurll.tiit Motor Company, of NVv Vork . Uv. im ,1, r bond .if $Ja.U0ii. Tlit- lompany rMlma ass-ts of about $30ii,,i0 and Illst It-t. .iiiioluutel.v the aame .imoiint. UNITED STATES GOVERNMENT LIBERTY LOAN BONDS Approx. Yield -... r-.iii.ki. 0,1. " Called, or If Rat Callabl du selllno at Par, on Callable Oat 3V 1932 1947 3.55 4o 1932 1947 4.60 4 1927 1942 4.85 414 1932 1947 4.52 414 1927 1942 4.92 414 1933 1938 4.70 4l4 1928 Apprex. Yield to Maturity 3.50 4.35 4.45 4.47 4.58 4.62 A IRC TI O $50, $100, $500 AND $1000 DENOMINATIONS FULL INFORMATION REGARDING THE TAX FEATURES OF THE LIBERTY LOAN BOND ISSUES WILL BE FURNISHED UPON REQUEST MONTGOMERY & CO. 111 SOUTH 4TH STREET PHILADELPHIA 14 WALL STREKT NEW YORK GOVEHMTENT SECCBITTES DEFABTKKKT TELErilO.NES, BELL, L0MUABD 43i0j KEYSTONE. MAIN XSSI :i lo II .11.-. ' SECURITIES AT AUCTION Tin. ft.llovv lnc secutilles vv.io koIiI at auction today by H.trnes J.olland:, stocks Shares la .Vinerltnu n.illUHs ('otupiiM, 'omniuii iir I'll L's Ann-rl, an l'i,e itn.l ('uaairij, Hull ,',)iiili.,nv i,.r Jinn . , ton Mplsslnp; MIiih t'nniii.ni. .i, . IMP Ii . S ". Am. rlmn Avail'Mio of Musi, iMr 11,111 .. .'111,1. InO .VI. m nlhl-i llurluu lli.l.n VI.- . hlne .'.uip,.ii. i,ar II, lii'i shares 1 hllrult r Mt Ulllnlll tl'lltl Mlliltii; ('umi,.i ).ar!l... T.n' 1 !!.',, Totiuptli nu, I Ciltm nl Col, I Villi- In tr I'onniativ , ..tr II Lot 1 S.'.U .Ma,le l,ei,f .Vllning ull llev.lup, pn.'llt Cinilianv, t.ar II: Vim h4(s Ilia, I, llli. 111,1,1,1 Vnthrii. elto I'.ul Ciauiaiiy, per II l.,it (I ('urn lis. bailee .N.ulun.il llanK, par sun 1' I'urpi KxetlatiK.. .National Haul, pnr ll'iK 31.-, 0 Quaker Clt Natlulial Hank par 1 1 (Ml 1.1)1: 4 Quaker I'lty .S'atlui, .1 Hank, par lloil l; 7 I'lrst Vatloiial Haul. f i',i,ieii, .V .1 . par llii" . .... '.'CO 2,1 Ileal l.'state 1 riii-l t omptinv, pre. f..rre,l pur lli'ii tnl 1 I'lilliiililpliU Trust I uinpaii) , par Hi a II.-. 7 West Ibul Tuiol .'ulnpalo par lllld . till. .1 Franklin 'I rut v'onipaiiv ; par lino lai1 1 l'rovl,l.'iit I.lfe anJ Trust Coin. n.iio . par 11,1(1 -Ill I l'ir. Atsuilatluip of I'lillaileliihla; par I.Vl an', II 1'iro AssiKlallu'i uf I'llllaileltitilu; par l.'n .tin t I'lie Assiiilatiun f I'lilUJelphU. par I'll ... 310 11 I'lilUriVlpliU nnd Ural's IViry 1'assenBer Hallway Company .. C"i 3 cltrniHiituwn itili anil tti streets) I'assrinter Hallway Coiupan .. tiu'i In Thirteenth ami I'lfienitli Mreets rasseneer Hallway Company... 200i 50 failures AmerUan (las Comt.an: par tlllu C.Vi ui, Ainriian uas vunipan , par linn It John H Htetsnn Coinpaii), pre- ftrre.l; par linn 1', John H stetson Company, pre. ferrej: par IIU'I it United (las mul Kleitrlc Corpora- lion rtrst preferle,! HO Zee Zee Tile und llubher Comiatiy 1IOXD.S IHOO Nurlh hprlngnd.1 Water C.ipn panv, .". isr tent, first timri uai;e. eouisms January and July, due IH.'S .-lion Mkhlenn Hallway I'oinpany. it ner tent tlrst lien poles rou ns June ami uceemuer nue roastlui: .'hi, l(. ns, vvfsl.rn .Irv-plek, ,1, In hexes. welKlllln.' .'. His Mple.e. .17, vvelchlll-' 1 ll,s iipliMt. III!., welthlm." ,lj lis apln. , .14 41 .1,'ie vvelKlllllK 'J'sSia His aplxe. 3J V I a.'t, roastliiT' .hi, k. ns. vv.st, rn In 1,1,1 ' welphlni; I lus nml .,v. r ,i,le,e. .1,,, w.lr's I In 3' ll,s npleee :n, . w.lahini; '."a " .1 lbs ii nl IMiai.. Iirulllnc , H, k-i.s I vtelRhlrK l'i O J ll.s upli. . I.'li 1 1, , till, n w..s,e,n. :ts;, l, . est . vi.strn . n, n I Lllll IUI. , , .ptlonal lots hliiher. fair to k-ouil J.iliJM. siiual.s p. r iliit n, wlill- I vveUhlni: IM'IJ His. p. r il,,, n isjisj- f .villi.', w. i-'tilm,- ,.',. Ill ll.s. er ilo.-n 17'" 7 .-..,, whit,. wlLlilmr s ii,. p, r ,i,,., n. J.iii .. -II rto .In 7 II, s per .1 .,'PI II ,lll, ", .1, ,!o illis ij ll.s, ii. r ,!,. 2. -n 1111 .Ii,., II .'up ff 1 "til, snllill nn,l .,, - II 'i i! ",'i i-'Ulneas VOUIlb. per PJllr tl 7. el, I 7, f'f H. ntlSII ERl'ITS Applet of t'ne riuillty sol.l falrlv nnd som. kin, Is were H sha.l- firmer Oral.Kia alnl araphfriitt wer.- oui.t nn.l .tM,r (nh.'r fruits v. .p. u" nerally sft ,,lv Quotation, vpples .New York, per l.ll Kine, 1 1 .'.li',. 11,,1'lwln 51 -.of. 7 r.n Northern inv lf.iii ..7.V. Ilulihir.lst.in. iKl.S 7.V. HrttnliiK. 1 1 l 7.'".. Applis. r.'lllisvlvanllt and Vltlllla pi-r III lien Iphv'ih II "..I'm ,l.,nn II ViCd -in Win. sap 7',t ",,l I'ltipin. I'ls. 7 Ml. Stav 1,1,11 Wln.s.'P, .-.ff .-..,. Vork Inll"rlal II '..I 817 7." Home Hiliutv. fan I71 Vpples. p.-i v, iHri, I I, islet In 'ii 11 L", do. per I, ish, l l,ask. l IHiJ AtPl.s vves.,.n p.-r l..p IJtJ'lJ.V Ltmona p-r l,.. li'fl I iimnais 1 Inrl.la ixr rait I.' n.K, '. -,o- n... , .llforiil-i p-r l,x 111',,". T,,ui.-orlnes 1 l,,r i,li p.-r Htrap. 111'..1. .Ir.p.-rruit, l-r l,nx IJ ".(. , " , nml.. , rl, t J.rs.-v t"" l.tsh.-l-l,... ,1 Ml (1,1 .i, do p,.r hlil.. H'.v.J'J. siiawuerni-H I'lorida p-r nuart, rniiil.V. Statement Januury 1, 1915). assets United States llond? .intt Certificates of Indebtedness. Philadelphia City Loam Municipal, Railruad and other Bonds Mortcanes . , Call Loans on Collateral Security Real Estate vQau Total Assets at Par Assets as charged as per ledrjcr Due Depositors , Surplus ? 019,900.00 080,000.00 12,159,000.00 , 3,432,020.00 558,980.150 il 770,353.75 . 1 ,721,546.68 .f .S20.541.800.93? - .$20,206,800.93 . 18,385,382.50 ..$1,881,418.43 Number of Depositors. .January 1, 1919. .18,469 INTEREST 5 ,5 rO PER ANNUM IGNATU'S J. DOHAN. President JOHN .1. -MacDONALI). A'ice Pres, ALVREI) J. MIKPIIY. Vice Pres. and Treasurer LOUIS E. PHQl'IGNOT. Sec. and Asst. Treas. THOMAS II. C'l'LLINAN, Asst. Treasurer ANTHONY A. HIRST, Esq., Solicitor MANAGERS Kre.t .1. Murphy ltrnitllpp. .1. Ilnrstuiann .lnhn K. Lonerxan .lereinlfth .1. Milllvnn (.eorce V. Nnrrls Thomas Devlin liciLitlus .1. li.ihun .lnhn .1. vin. iionul.l llnrli Met ultrejr I Imrles A. sii-Miiniis VV llll, in, I', sinned Win. . Mtlirnlh, Jr. lolin T. Iiiilmn .lame. VI. Hellev .Vll.lmel 1'. Hnnson John A. litiuitlierlT .l.xri.li M. Lintel Henry ('. Kslln? Waller (irorce Mnltli i:,lvv,ir,l .1, I, .inner Henry I". .Michel) Anthony A. Hirst .Insriili (. Trainer VI lllluni J. Dojle -v Hon. .lusepli 1'. J.amorelie a . 3 pi -j n i ,ii"i pnwira inn hmsi'it" iiii 'Miiwii.viiiiiiiiii :m i1 'i i,ju iwifbmbi riiiiiiraiiniiwiJiiiau YEGKTAHI.KS 'I VVP I,,, rtotatoes were plentiful nn,l tiirely steady while swttis were a ehn,le firmer,' unrt.r seatcUy unions an. I ..ibl.ive -v.rel ,lll,-t ail'l nil. h.uure.l Quot.ltlots VMult. , iiol.ilns Kisli-rn Mm re. te-r t,lil. No l.rt"7.".: Xu '.'. SS Ml White lotatOfs, K Jtri-v. t-r Inish. 1 htisket S.t J. ",, ii Sg II No r.ll'illllle While IMItatoes. I'enii-' svhatin, No. 1, p.-r In" Il,s IJ lip',1 L' oil i vv htiH pouiloes. weNiern. pr ten lt,s., s-j-.-n' 'n'.'on. .In -S. w Vork. p-r inn ll.s . Kir V J". r-W.-l p., I Hues, Jt-rsev, pr l.asket , No I II ..."Il I 7-"u N' -. Iltll:.'i Mv.t point,,, s i:asl. rn .shore. Jn-r t,l,l . Nu I l,",i,ii No i IJ .".Hi, 11 ",il. Hivt-.t pot. lion. Ileliwiili ,111,1 Mnrvl-vtnl. Imsliel h,,mp. rs i No 1. t'.'S.'ffJ Up. No 2, II .",ll .Id . ,. tiu- liani.h s.nl, p.-r ion I'dl's, ,10 so, uli, tn. p-r tiainpr. SI 7".1t .'.". ,ii,io,,M. , vi.ll.ov. p. r mu-lb lag- No. 1, llj.i'y.- Thti Icttfr h fwiiiaruittimcr rated Hfi iiii'I t ,. VI 'li.lilill. i-uisTcitnniT and iff " I" fur- ri 1 1 h ytiii ii'.i afllunvU (is ill i op r.vf p.rv-s, ition riviiic.it. m:y vrk in iti:r d rues New Vork. J..-I 1'.' III TTIIlt It",i Ipts. 11 lis Inns. I ltt.li. r siorlinf, .".i '.; ,,U,. .tias .",7's 't "s. tlrsfs .".'.i-i if. ,".7i s. -..mis, ,".3i"i"., Mat. .I.ilr.v .",'l'j Sir.7. . Imi tation i r.-nnii re 17' Is. t'.ih.s It' elpts sl,"i7 las.s. llxtias, l'.i tnlH'ti, ,xlns MrsiH fll'j lin'.S'si . ,'rsts. t;,l.,ll, so.nnil.. 'i71l .Vii . illrtles. No I, ."..Vii To! No i". v."'. ."I,- .h. ks. soo.1 Ifttl "1, I, , l.t uiolruril- 1.11.1s. stornK.-. :i 1 ".:' s,., , n ar,, li. n.ierv whites, 7H1. 7J. .Hi r-.l w'lit-s ,141,70. pull.-t whitiH ,',l,-,l I'.. HI ' si wI.ii.m 7n. i stnrn mil s, mi r,i whites ., Miri.it. ,.J'.,Hs, sialt- ami n .ul, l.,nt l,pwwiis. ..7 'II UV , mil. I 'l-.r II '. ill 113 IM'i l.-.o 4n 3 CS', r.ins li I n 50110 Atlantic City (Iss Company X per lent. Ilrst mortraiEe, ecu pons Junuary Hnd July, due lu0 , , 40 10000 Wsrrsn Wocd Worklnr Com psny, A per cent, first raort ear., coupons May And No. Vm!cr. dus 1021 f..,Ul 9o20.8a U. S. BANKING POWER GROWS Karuiiijis HeporttMl Iiy Coniptrol- ItT Aliifli Ahove rri'-War lt'ar W'u.lilnclon. .lull- "" In thn niiniial report of John SKeli.ni VMDiatns, Cntnp. tiiillt-r of Ctirr. !', lv.r jenr en, I,-, I Oc tober .11, l!ls, the Comptroller s-.ihl kiio tess of til.) llimii, lal iii.itinKcitieiu of tho war was l.tritely line lo com-truvilie lirint iples iii.ilnlnltie.l hy the ImnKs titnl tlm IVilttal I'.eBerve eMtrtn. .mil tin- ef. tlt'lent direction nf the Inillv iilu.il insti tutions. r.oroilU'M of tlto 770.'. national li.inl.s .Viivimhcr 1, 1!18. vvtie icpotttil ,n in..1 8:'J, 4,14.000, ns rumpaird with uGi,ii:.tio resoiirceH of t.'.STt.uotl.OOu for the Jl -17.1 State or private haukltiK InMttuiioiis lust J tills.. Urns .ninliics of the national kinks ill the Mr lll.led Jtlll 1 l.i-t vveie $818,000,000, nn iiiei.Mp-B of nearl.v 13un. 000,000 mote, than the I'.iiiiliics for the xnr Jus-t piei'CdliiB tlio outliiral. of the , 1'uioprnn vvur, nnd ntt t-ainlnCH wire fili, 000.000, new lilslt lecord I Tlio hanKlliB nouvr of the 1'nlted .ytutes lit June was tnlctilaled l.y the Comptroller at $39.08:'.ooo.ooo. an in crease in the ysar of $4,fi0!,000.000 This Included natloimt and Htato insll tullonV lapltal, fiirplii!". profltf, clrcu. Iiitlon and deposltH, and Kedcral Heservo Hanks' capital and deposltH. "Tlie banklnc power of the I'nlted Stntes today la estiniulrd to lie Never, times greater than In lo50,'' haul tho ie-' port. t Make II, R, T, Ret'civersliii I'erinuneiil New VorU, J;ui. ;l' Jinlgt. JIaver has formally made permanent the appoint ment of I.lndlcy II, (i.urlHon. temuorury receiver of Uronklvn rtiipld Transll, New York Municipal Knlluajs Corpora. Hon, New York (.'opsolldated ltallrond Company and their several properties mid assets. He will continue under' a bond of 1100,000. Court reserved de cision upon application of the Public Service Commission for the First Dis trict for leave to Intervene, 25 PROFIT OX THE COST OF MONEY FROM SELLING ACCOUNTS ',Zh nf Imlll! i iillllllliUII! II III iWilllMII! I "i'l. 'III Mill lij;1-!!! ISBlJUWBViS K ll!!UII31 ' Dcictnbcr otli, 1918. W'c want tn take this opportunity to tell you of fiiir appreciation oi tin- financial help you have Riven uj by your plan of purchasing accounts receivable and to say also that vvc believe j oil nre tilling a need "wlirch i-i not tak mi care of by any other kind oi" financial iiistitttticii. Take our concern for an example. We in-crca-cl our business dtiriiifr this last jear from a little over half a million to over S0(1,000 00 with very little new capital in the lnisitus-. Tin- would have been impossible had we not been able to sell our accounts lo V Oil. nurinjr the !st six months we have paid you S'J.."iOS.8T interest and this has enabled us to pectire $5,till.(iG discount on our purchases. I 'or a concern who needs new capital in their business we are lirnilv convinced that your method of liuaiKiiifr, though lightiv higher in cost than borrow ing at a bank, fa by tar llie best nutliod." E'SRiiWiiiikSKaHiiittRtm. :n i.iihiibiwtiimi,ii!tu!ii,ubiMiii.iimiuiiti4!,itiiiiii,nu,inr:',,if.iI iisi-3 Commercial Credit Company Cash Capital SL'.U.-.O.OOO Surplus $130,000 II A I. T 1 M () R IC It prrst-i, .-.1 .it iMiii..vi.n.rni.v :.u mi, i:.iianBe nioir .I'lion li, ut tllli) CIN-IN.VTI !IIMII!1!MI3 1 ' ItiiililllllllWIIIilillfJIIililliriTrilWiililllHIiAillliMlllli'l'I'il NIHV Yultlv HUSTON vmiiut-d with Commercial Acceptance Trust I'j.h ('null ii l n.i, nun, ooo '.'OS s. l.j. Pulle hi., Chlmo iiiiiniii mi iiijiii'iwiiiiif'niiiiiiiriiiiiiiii . tn iiiiH'ipiiiiiAnaiiiiiiiiiiiiaiaiHiJ lMM'v,'Vi iltr stWwsTj SAMPLES OF COMMODITJES SOLD IN SOUTH AMERICA showing some of tlio ai tides for which a market is open there, such as spices, candy, shoes, biscuits, canned fruit, textiles, wear ing apparel, ecclesiastical articles, etc., are kindly loaned to us by the United States Government Bureau of Foreign and Domestic Commerce. See them at the South American Export Trade Promotion Exhibit under the Direction of the Public Ledger Ledger Central Real Est. Trust Bldg. Chestnut at Broad '&'' OTHER EXHIBITORS Corn Exchange National Bank Phlla, Commercial Museum Atlantic Rsfinlny Co. Guaranty Trut Co. National City Bank W. H. Roblmon & Co. Downtown Book Shop OPEN WEEKDAYS 10 TO 6 FREE HVMMpta i-tii . i, j. . . ..Ill .ij--"" il i 1 1 I 1 1 a 'I "1 A M y way sVMr. , tlstlo the K .-" r i - i ' Am
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