," V. RHHSW?' i ...1 ( , M I f V . i , V - ;j , 4 i 5." .1 EVENING PUBLIC LEDGEK PHILADELPHIA, TUESDAY," FEBRUAK 4, I9i9 k ' ' A ll 4 fell ' it V :. r rfe u. ir iv r 11 & U pm LS ft 1 t ',- rtT A , -fl a- J3: .Dependence , On Investments Almost all successful Ameri cans hope sometime to be more or less freeifrotn busi ness cares and to benefit in later years from tbeir early thrift and forcsightedness. Financial freedom can ordi- narily be trained only through good investments. We invite attention to the extraordinary income now available from many securi ties that can be depended upon for year to come. At the moment $1,000 can be made to buy as large an income as $1,500 would a few years ago. Atk vs for Lift .Va. F.-tt ot m. tractht Jntnfmtnt epportunltU: Chandler & Company m.tAti Franklin Bank Building Philadelphia :w"York Boston i 36 FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS NEW YORK MARKET CONTINUES EXTREMELY NARROW IN SCOPE New York Slocks Wavering Tendency Displayed, With Heaviness Devel oping in Many Issues Late in Session Motor Stocks Most Prominent Feature High Points in today's Financial News l'rices are carried up in the early trading on the New York Stock Exchange, but reactions quickly follow. "Little of interest develops on the local exchange. Northern Central Railroad plans new financing. Pronounced increase in outside interest on the Curb, with industrials in good demand. While lacking in activity, foreign exchange dis closed n steady tone. Cotton prices drop nfter good start. Pressure against corn causes downturn. Bar silver is Unchanged in New York and London. High Low Close AJax Ilubber.. 71 71 71 , Alaska Old M 3 3i 3 Alaska Juneau 1 14 l'i Am As Sliem,.101 100i 101 1 lo pref 99 89 99 Am t . L,. ....... l!nt' tiUS'. Afl ...I. urLL DUKUI Vf- - -- Am Can 47 Am Car & K. . 8 Am Cot Oil.... 44 Am Druggists. 12 Am hxpress... 894 Am 11 & Loath 1SS do nref .... 9 Am Int Corp.. B3 57 49 87 602 102, 14 71 I Net ' ,che , till Ys INCREASED INTEREST IN OUTSIDE MARKET Philadelphia Stocks J of the Highest Grade Railroad Bonds in Exist ence. Each tax free in Pennsylvania, and of such worth that they can be bought by the most con servative with practically absolute assurance of the payment of principal and interest. Compiled in booklet form and sent free on re quest. Frazier&Co Investment Bankers Broad & Sansom Sts., Phila Sit !' Itednruod bt Hallo. New Yorli, L"cl. 4. Tho stock market continued extremely narrow In Its scope, but In the early trading today there uni a tllspla of strength In many croups that Indicated far more firmness to tho tccurlty trading situation than Is Indicated by the variations In prices fiom day to day. There wus no pressure of long i-tock from nny sourco at the begin ning of tho business, ns pools were active In n number of Issues and the traders were disposed to take the bujlng sldo with the demand from theso sources being effectlvo In forcing advances ranging from fractions to more than 3 points In tho flnt few minutes. The higher prices established on that moemcnt, however, brought in a supply of slocks, and from thei on the market showed a wacrlng tendencj, with heaviness developing in many Issues Into In tho daj. The motor stocks wcro among the most prominent features, with Chandler moving up 3 points to 118, nnd gains ranging around 1 point were made in many other stocks In this group. Covering of shorts was the feature In tho trading In the more active Issues nnd was a factor of putting fnlted States Steel common up from 90H to 91, but this gain was lost on a reaction In the last half of the day. The railroad stocks dlsplaed strength in the afternoon and some closed with material advances, although reactions occurred from the high est levels reached Many of the specialties were moved up by pool ef forts during the forenoon MATERIAL DOWNTURN I COTTON OPENS STEADY OCCURS IN CORN MART I AT GOOD NET ADVANCE Denials That Minimum Prices , Sentiment Inclines to Bear Had Been Fixed in Argen tina Cause Pressure Side, After Yesterday's Gains Wall St. Buys Am Ice Seo pf Am Linseed . do pref . . . Am Loco . . . do pref . . . Am Malt . . . Am Smeltlna. Am Smelt pr.iu? Am Sum Tob. 101 Am 8tl Kdrv .. 79 Am Tel & Tel.lOOi; Am Tobacco 193 Am Wtol .... 46 i do pref ... 94 at Anatotula 694 Asho Drygoods. 194 Associated Oil 73 U Atchison 9J"3 do pref . . 87 Urfld Loco Co . 68 "i Unltlmoro . O. 4G'i do pref .. 54 '4 Unrrctt Co .. .110 Ilitnpilas Mill. I'i ueth. steel is mi 46 89 43 1214 89 t 174 87H D3V, 57 48 87 CO 102i I'i "0 107 loo 79 99 ' ?' fit 4H 89 43 12 VS 89 4 IT. 88 Vi 53 H H 07' .. 48H 4 87 2 60H 3-14 102, ij 1V4 .. t 70H si Industrials in Demand Oils Active Motor Stocks Are Strong k X 107 101 79 100,i 1111 li'iH 45S 46 U 94 u 18f 91 'A 87 67 Ji 46 ( 54 & 110 Mi ", do 8 pc 2 pf i Tn 58 18. 73 U 91 87 67', 45J, 54'4 110 1'4 69V4 - it I 103't 103'i 103, 21 147 6 16i 18 23Vj bS, 52', 36 t lilrncn, Teb 4 Denials that nilnl- fr Iiurn.s Hros . 147 Hutte C & Z Co (Hi Butterlck ... 16'i Butte & .Sup C. 18 Cal 1'itroleum 24 do pref . . 70 Cnl Pneklnir 524. ('.innitlnn Vac .158", 158 Cent la pref. 105 1054 Cerro de I'asco 32 Chandler Mot.. 118 Chesa & Ohio.. 65?i Chi Ot West. . 8H C, M & Ht 1' .. 37, do pref . .. 73 54 C, II I & I t 0. 23 do 6 p c pf.. 63 '4 CHUT 7pc p 76 Chile Copper .. 18 Chlno Con Cop 33 Col & So 2d pf. 46 Consol (Jas ... 95 Corn Products. 48 Crucible Steel . 53 do pref . . . 76 76 76 Pel & Hudson .105 104 U 105 Ulstu secur.... 64 sal, oj i;rie . ... lfiH do 1st pref 26 Fisher Body . . 42 V4 Oaston-AVma . 28 Oen Cigar Co. 49 Ocn i:iec Co. 149 Oen Motors 130H do rts . 2 do pref 84 Goodrich I! I" 61 do pref . .103 X i TJi -)- i 1 14 16 18 23 T4 70 Bo 1' - 158 'A 106 VS .111 J, 32 115V4 H6V4 '4 654 55VI 1 8 84 4- H 37 72 Vi 23 ?4 634 .. 76 18 33 41 91 47s, 33T4 22 63 76 18 33 45 01 47 53 21 lork, Feb 4 The opening of 'Ot Nor Or subs 38 mum prices hnd been (Hed in Argentina , the cotton market this morning was Illinois Cent '99 .ind talk that farmers were selling a1 .teady. at an advance of 7 to Ujwlnts. Ini'lra Cop . . 444 little more freely, caused a good deal of I " , ' ' InterD-Con Cor 5V1 pressure ngalnst corn today, and the Wall Street was a buer, but there market sufTered a material down turn I ,'emed to be considerable cotton for Houses that wtre prominent jesterdd "a'e up, partly from Liverpool and the on tho bujlng elde turned sellers South Most of the Liverpool strength Tie absorptive power was much re- m" riorning was attributed to the Im duced, owing to the heavy covering Proved Manchester situation, movement of jesterdt, and It appeired Local senllmcnt Inclined to the bear ns though the persistent clamor against 8'de after jestirday's strong advance, Our boilnim poller ' and alwaja has been to dlatrlbnta Local Industrials Only j--Aihrlnc to this, wa ara ofterlnfy in oncinai issue 01 YORK STEEL CORPORATION ' Seven per cent, cumulative, par ticipating, preferred stock on the partial payment plan Upon In vestigation you will find the op portunity for conservative invest ment beyond the ordinary. Vlnute details wilt be furnished on re quest. Benner & Company, Inc. Widencr Building Walnnt Three-Fonr-Flte the high cost of food had won man converts to the bear side. At the Immediate outset, there was a show of steadiness, which did not last long. Bears made a good deal of the unsettled labor conditions. The cash situation was weaker as the result of a falling off In the demand and larger offerings from the country. The weather was cold In the west. with scattered snows, nnd while this was looked upon ns favorable for the move ment. It will cause heavier feeding. Oats lacked support and were weaker In sjmpnthy with corn. Trade was nar row It was reported that 150,000 bushels had been sold at outside points to eastern exports. It was thought that the grain might be for neutral countries. Local Interests were against the mar ket, while commission housese bought on breal.s. Dears were confident on the Idea that supplies aro ample to meet all re quirements Leading futures ranged as follows Corn (new dellver Tent Oivn HlKh I.nw Clone doe May .. . 1 "JlH-j 1 .'I 1 17 J 17 1 jii Juls- . 1 10 1 1(1 1 13'j 1 13 1 IDS CUt May 3H 50 r.I'. ."'. 5S' July SliS .'.0 J4'i CI Lard Mav .. 22 50 ;;.-.-, :;:i 22 2.". tj 40 Ju! . ..'1.113 .- 'JO .1 II 1 'Jl 115 J1 II.' Hlb8 -Mav 20 02 20 70 20 40 20 40 20 3J I'ork Ma . 17 70 17 70 37 40 37 40 "37 45 Hid tAsked do Ir Int H Cp new Int Mer Mar. do pref Inter Paper . Int Nickel Kan C So pr. Kelly Spring. Kennecott Cop 16 26 424 27 49 146 1294 14 83 61 103 38 43 98 43 5 18 K.V4 26 42 V5 2TVs 49 149 lV 2V4 84 Vi 61 103 38 43 99 43. 5 18 112 112Vi 21 t K --2 I. ili 2 H 4- V4 1V4 Ti'4 2 t!4 Lehigh Vnlley. Lee Hub . Tire Mackav Co . Max Motor . do 1st pref tlo which perlnps accounted for the later Lack Steel.... sirengni of the market, as there was more or less local selling at the start for short account. The market was weak and unsettled late In the forenoon with prices show ing declines of nearly a cent a pound from the high level of the morning. Iteports that the strike In the Law rence mills was spreading to other es tablishments In the same city, probably encouraged the selling movement and the absence of any Important support from trade or speculative sources evidently rendered sellers more aggressive. Ye Todaj's 10 so 11 10 1 10 2 in close open am am pm pm March '.1 Hi :n III! 24,1S 24 IS 21 2H 21 .is Mas ... 2.' 74 2J 110 JS OS 22 IM 2." 18 22 .'4 JulJ 21 III 22 01 . 21 21 OS 21 (IK 21 40 OUober 211 Vi.JH 40 :n 40 20 40 211 411 20 40 !'! . . 20 OS 20 111 111 in 20 111 20 III JO 19 Januari w.ko 19 Ml 19 so 19 M) 111 80 New York Bonds Local Issues Exempt from Penna. State Tax We have for tale the following bonds: Allentown-Bethlehem Oas 57.. J. d D., 10iS Chester Count Public Service 1.J. D . mi Chester County Oas $V,.J. A P.. 13 tt Reed A. Morgan & Co. West End Trust Blda., Phila. Members of the Palla. Stock Eicfc. MUTUAL LIFE'S BIG YEAR U. S. LIBERTY BONDS $50, $100, $1000 BOL'GIIT. SOfT AKI RrroiIMEXDED FOR IXVESTMKM Newbtirger, Henderson & Loeb 1410 CHKSTM-T FtTREET Members N. . l'hlla. Btotk Kichantea LIBERTY BONDS BOUGHT and SOLD Anr Denomloatloof Samuel K. Phillips & Co. SOT CHESTNUT ST. Members Philadelphia Ktotk Kithan FINANCIAL Annual Meeting USPI TIIK ANNUAL MKKTI.Sd UP TIIK f , Btockholdfra of tha K8T1IINKTI'K ,-A 4WMETEKY COMPANY will be held at the HHcea 01 iot LomDany. louo Arcn atrrrt, -Philadelphia, on UMntulajr, Februarr 19, 119. at S P. m. There will b an election for Hoard of Directors to serra for the followlnr year. r OEOnOB M. J'AINTEIl. Becretarr. Berne 158 Race Zn PAINE, WEBBER & CO. INVESTMENTS li:i LAND TITLE BLDC. PHILA. Direct Wire Service Boston New York Chicago Polic)holders Receive Large Total, but Assets Increase The Mutual Life insurance Company, of Sew Yorlc, had another prosperous ear In 1918. Aluaja notabl among life Insurance companies for the vast total of pay ments made each year to Its pollcj holders, this company established for Itself a new high record In 1918. The huge sum of $69,651,430 was paid to Its rollc) holders, exceeding by (2,513,431 the total payments directly received from pollcjho'.ders during the jear, and brought up to 1. 478. 000. 000 total pa 111 ents to policyholders since the organi sation of tho company tn 1843. These splendid results aro especially Impressive because obtained In a ear of unusual disturbance, due to war and epidemic Tho Mutual Life's mortality due to Influenza and pneumonia was J4.789.20U Moreover, these pajments nnd the great ly increasea taxes uuc to tne war so little affected the resources of the com pany that Its 1918 rate of annua! divi dends will be paid also in 1919. The company s finances are in a flour ishing condition. Its assets, now J673, 714,294. show an Increase of $39,714,724 over 1917, and the surplus, or contin gency reserve, is 115,731,076 The total amount of the company's new business for the year was 1208.- 920.381 a generous Increase over thati ot 1311 ine loiai amount or insurance In force on the laet day of the year was 11,861,881,953 ISEW YORK COFFEE MARKET New "orlt, Feb. 4 The coffee market naa very quiet with little demand In evldenca and only moderate scattered offerings. The Santos futures market was re ported 125 to 225 rels lower and may have had more or less Influence In the situation here. There were arrivals at this port ot 70.176 bats as follows: Itlo. 18.000: Santos 71,176, and Victoria. 1000 bags. Yes Today's cloae ooenlnir May 14 65 14 no HUHtlnuer 13 nu -is 7.1 December 13.0518 03 January , ia CO February 13 45 Bid 1000 Al Old cvSerA 31 5000 Am Agrl 5s .. 99 ", 12000 deb 5s 100", 79000 Ang.French 5s 97 24000 Am For Sto 5s 99 49 4000 Am Smelt 6s 91 , 1000 Am T.Tcv42s 86 14000 do 6s . 9J4 16000 do 6s 102 V. 1000 Armour Co4-s 86t l.'OOO AUhlson 4s H3 12000 Bait & Ohio us 82 . 2000 do 4s ',7 1000 do cv 4.s 78 24000 Beth Kel 5s '36 80t 52000 Bordeaux Or 102 ,V 19000 Can Gov Is '.'1. 98s,, 18000 do 'je . 7'i 15000 do 3s 31 0734 4000 c r r a .st L i 'is . . 79 i 1000 Cent I-e.ither uh 96 a jnOOChes & O 4'jS 7S 21000 do Iv 6h... 86i 200UChl & Alt J'jS 37 1000 Chi Ot V 4s.. 61 35000 C B . Q 4b.. 96 1000 Chi M & .St P 4s '25 84 3000do rfd 4js... 72 2000 do cv 4s. "6si 1000 do gen 44, 83H 7000 Chi U I & P 4s 77 4000 Col & .So 4is, T74 146000 (' of p-vrln 6s,99Ta 1000 Pen & n O Is 72 lOOOKrle cv 4s 8 A 48 2000 tlo Ser B... 47 'i 5000 do Ser X... 50 3000 do prior 6s. 67, I.OW Cloae 32 32 19's 99SS 1003 ions, 97", 97 I. !I94 .91 91 86 86 93 91 102 102.. 8644 8C 83 5, 81 j 2r' ll' 1 77 78 78 80; 804 102 102ft 083, 98', 974 974 97 'j 974 79,. 79 i 164 "Xl'j 78 78 85 85U 37 37 6U 61 95 , 93', 95', 35 254 0 79 32 , 66 65 23; 73 4 304 54 U 22 &; 41S, 10, 6'i, 94 23 51,4 307, 14 1i 68 17 96 73 28 19 47 90. 8tt 39 Vi 7l4 34 67'i 44 V4 40 IJ 34 40&, 17 46 62 3. 1174 961 35 26V4 60 70 32 Ti Cs, 55t 4- u 1 i . 23 V ,3a4 --34 30K. a. 54H H 24 4- Mi 41 10 r. 4 5ia. 4 31 14 48i 68 17 96 733, 29 19'i 47 90. 831, 40 74 34 67", 443 49 13 364 40-k, 175, 46 62 34 1174 T 19 112W 22 , 97 35a, 26H 60 79, . 33 G631 55 V4 . 24, 73 4 31 55'i U .. Oflf. OUT. OI UU .U Ul'li s0"g -m e May Dp Strs pMOe'i 10G4 inovi V, Mex Petrol ...168 167 167 -fl-i Miami uon L'op 224 Mldvale .Steel.. 42 Minn & St Lnw 103; Mo Kan & Tex 5 do pref 9tt Missouri Pac 24H do pref . ... 51 3; Nat Acme ... 31 Nat Con . Ca. 14 Nat Hnnm & S 48 H Nat Lend 68 U Nov Con Cop.. 17i V Y Air Brake 97 X Y Centra'. 73 X Y X H I II 2tn X Y Ont &. Wes 19Vi Xor American. 47 North Pacltlc . 91 'i Okla Pi Ilef . 8 3, Ohio Gas 40 Ontario Sll. . 7' Pacific Mall .. 34 Pan Am Pet. . 683, I'enn It II... 44's Pco Gas & C . 49 Pere Marquette 13 Pitts . West.. 35 Vt Plerce.Arrow . 404 Pierce Oil . 17' Pitts Coal 46 , Pressed Stl ( ar 624 Pullman P C.ir,117a4 Ily Stl .SVrlng. 73 do pref 101 Hay Con Cop 204 Rending . 79 j do 1st pref 38s Ilep Iron . stl 73 V llojal Dutch 76 Saon Motors 11 St L S P .. 12 St L S'west pr 29 f--ars Hoeliutl. 17G Shattuck Ariz . 12 Sinclair Oil .. 3ui South Pacifls . 90s, Southern Iluy 27 do pref . . 1,8 Standard .Mill ..130 New York, Feb. 4. Trading on the Broad Street curb showed a pronounced Increase In outside interest with many of tho Industrial Issues In good demand. because of knowledge of Improved busi ness conditions All the oil stocks were active, with most Interest attnehed to the advance In Midwest Pennine from 138 to 141, a new high record for tho present move ment. International Petroleum, which was traded In at 22U to 22, also made n new high record. Gillette Safety Razor continued Its up wnrd movement selling at 126 to 127. Realising sales were again noted (n General Asphalt, which sold at 67 to 65. Tho preferred was firm, selling at 99 to 101. Royal .Dutch was steady, selling at 74 H to 74. Motor stocks were strong, with United Motor traded In'nt 38 to 38U. General Motors, "B" stock, sold nt 82 to 83. Kej stone Tiro was In good demand, again with trading nt 61 , to 62. Swift International sold nt 43. United States Steamship showed n Arm tone, with sales at 39i to 4. War stocks were dull, with Aetna Ex plosives selling at iH and "Wright Martin at 3H to 3. INDUSTRIALS TIM Aetna Explosives. ,. . 7, Am-Brlt Mfg ... . 2 Amerlcnn Marconi.. 4 American W Paper . 3 Air Reduction 50 Canadian Car Co. ... 25 Con C & Fdy pref. 70 Charcoal Iron 7 Chevrolet Motors ...145 Cramp 78 Curtltw Aeroplane... 11 Carw en Tool 8 Carbon Steel 85 Hmerson Phono 2 TIenden Mfg 10 Lake Torp Boat .... 1 H Lehigh Coal Sales .. 83 Lima Loco 28 Maxim Munitions ... U X Y Shipbuilding .. 35 Xor Amer Pap Pulp. 3Vi Otis Elevator 65 Peerless Motor 1 Teat, cloae Aak (sale) 74 6 44 I? 56 33 80 7 Hi 160 81 12 ) 95 2U 18 13J 86 33 38 334 70 19 50 30 9 8 11 13 104 3i n; 3 38 34 3i 74 'a Net low Clou chae. 41 41 '.4 310 310 65 65 1 28 28 .. 19 20 71 71 1 6B4 B5U H 73 73 444 4"i U 26. 25H 244 2i U 69,, 69 'J . 78H 78J4 4. V? 374 37H -- 714 714 1 904 904 4 42 42 ft 47?i 474 1H Net law Close chge. 87 87 .'. VA 874 14 96.00 95.00 .20 3V4 11 1V4 374 Poole Eng 30 Scrlpps-Booth IB Standard Motors ... a Steel Alloys ".. Submarine 10V4 St. Joseph Lead .... 12 Todd Shlphu'ldlng ,.102 Triangle Film H United Profit Sharing 1 II B Steamship 34 United Motors 38 V4 World Film U. Wright-Martin Air . . 3 STANDARD OIL Illinois 102 166 Ohio J20 325 322 Prnlrle Pipe 268 274 S O California 268 2.3 H O New Jersey ....ssO 69j S O New York 323 328 INDKI'KNDKNT OIL STOCKS Barnett Oil & Gas... A U '4 Cosden & Co 7 1', 7 r.lk BaBln 6 6V, 64 Federal Oil 2H 2 2 Int Petrol 22i 22V4 22Vi Houston Oil 80 82 80 Merritt Oil 23 234 22 Midwest Refining ....138 139 135 Met Petrol 3 3ft 3ft Ohio Fuel 16 18 Oklahoma Ret 'i "a Sapulpa Ref 7 T'i Sequoyah 4 a Sinclair 23 25Vfe Island Oil 74 7 '4 Glenrock Oil ?, 3?a MINING STOCKS Atlanta 44 EV4 Big Ledge , Butte New Ycrk , Con Ariz 1,4 Hlih 6 Cam Iron 41 13 Fourth St Nat Bk.310 1028 Gen Asph 464 316 do pref.100 84 Ins CV A 28 1170 Lie Sup C 10 '4 12Leh Nav 71 V4 lOLeh Val.. 554 25 Nor Cen 78 434 Penna RR 444 14 Phila Klec 25 Vi 46 P It T t 0 244 19 Ph Tract 69 V4 181 Reading.. 79 Vi 1218 Ton Bel.. 3)1 900 Ton Mln. 3ft 40 Un Tract 37 V4 31U O I... 714 180 U S Steel. 904 5 West M. 42 100 White M Co .... 474 noNos msn S2200AmGss& Kleo 5s. 87 6000 Con Trac N J 6s. 88 1000 El & Peo 6150 Lib Bonds 3d 4 Vie 95.38 6300 do 4th 4 Vis .. 94.34 460 do 3 'is. 98.70 150 do 2d 4s. 92.60 360 do 1st 4s 92.80 60 do 1st 4 Vis .. 94.90 1550 do 2 d 1 4 Vis .. 94 40 1000 Phila Kleo 1st 6s. . 94 1000 Welsbach" Co 6s.. 95 PHILA. INACTIVE STOCKS Following are quotations for nactlve stocks listed In the Philadelphia Stock Lxchange and In which thre were no transactions today. Tho price given Is the last previous sale: Acme Tea Co 79 Leh Val tr nf 28 1 Alliance Ins. 19V4 Leh Val Tran 20 Amer Gas.... 60 Lit Bros ... 46 I Am Milling.. 10V4 kittle Schuly. 48 "w 11 pr 66V4 Mldvale 41 Amer Stores 25 Minehlll .... B0U Ani Stores pf 90 Norrlstovvn ..117 n.Pi Yar. " W -N'rth Penna. 94 S?mWin.Loco 6B I,enn -Va Bk Brill JO ... 20 war 277 S'iS ? 2UI,1 '" Penna SaIt..80V4 n k& J?UB Pf Eena Traffic 2V4 Camb Steel. nil3 Phila Co. ... 30 Cftaw 1st pf 62 Phila Co pf. 31 Cataw 2d pf B4 "Phil Ccum pf 32 Cen Pas Rys.109 Phila El w w 2t nSi!TS0 Y.J 6Z Phlla & West 6 Corn Ex N B 345 K Penn RR SB Lleo Storage. 63 P R T 25 fefe ; 16 Rwvs Gen .. 2 itnS.Ai"1,"t:m Un "' Inv Pf 14 J""1 D T. 10 Un Pass RyslBO Hunt&BFpfig Welsbach ... 41 W iit n. k, ... nTir . . m .. . . Vrt ::. ,,4U "rs w jer et h s JO Brill pf..704 West Coal . Keystone pref 50 Wm Cramp.. Key Tel 11 York Hwy .. Key Tel pf.. 50 York pf 94.20 94.20 ,20 98.70 98.70 .. 92.60 92 60 .10 92.80 92.80 .10 94.90 94.90 .70 94.10 94.40 .20 94 94 .. 95 9B 4- 4 1 4- 1; ), 1 C V S & Jerome , 4. 4 First Natlonnl 1 ! -1- i, I Goldfleld Merger .... B 14 1 Goldrleld Cons 19 1, Goldfleld Florence . . 12 1. I Goldfleld Kewanas .. 4 ,. "(Green Monster 4 , I Hecla Mining 44 3,4 Howe Sound 37, t. 1 Indeoendencs Lead .. 2 , Jerome Verde 34 84 71V- 704 S3', 77 99'j 99', 84 71'4 76U 83-. 48 48 474 47'i 50 60 674 674 do nref htudebaker . do pref Stromberg C Stutz Motors. Superior Steel Texas & Pac Third Ave Hit 134, Tobacco Prod . 78, do pref . ..103V4 103 Transue Wms., 38 t 384 Union Pac .128 127 do pref ... 73Va 73V 90 5154 92 40 49 V4 34 33 Vi 104 204 78 . 38 73 754 104 12 28', 174 12 34 4 98 26H 67 130 90 50', 92 39 46 IJ 34 33 34 133, 7 V 104 20'4 79 3, J8, 73 76 103, 12 29 1734 12 344 98a 26 67 , 130 90 50 92 39 464 34 33 13 Si 84 1, 1 Jim Butler 38 J- 14 Jumbo Extension ... 13 IV- McKlnley Darragh .. 4B 1 1 Magma Coroer 25 2 Mother Lode ......... 29 '4 ' Mines Co of America s, 1 Nevada Hills . , 2 2 Nevada Wonder .... 70 t Xlplsslng .... 8', 4- - .Ohio Copper . 1 'j Is,1 Hay Hercules : 2 San Toy 1 Tonopah Extension J 1 "' I United Verde . . . . J- 'i . West End Con . . . l4 ' White Caps. . 34 I Yerlngton ... 4. 1. 1 i'i 2 6 21 16 '4 4V4 4 3 40 15 48 31 80 83. 7V4 ft '74 3U i 4B 7B 80 74 32 GOVERNMENT BONDS Panama cod 2a. 1030 07 Panama rrir i's, 1030 07 Panama rou 2a 1018 07 Panama rta 2a, IMS 117 Panama rail Sn lnrtl Panama rrir 3 lnfll K7 Philippine 4a. ld.11 00 Philippine 4s 1II3V on Philippine 4a. 193H no If S Oovfrnmrnt rou 2s. 1010,,, OJH U H Oovernment res 'in, IBIu... ti;u IT 8 Oovertlment rou Sa. 1040... 80 IT H Government rvtc 3a 104(1, ,. so tT 8 Government cou-4s, lu2r,.,.l04Vi II 8 Oovrrnm-nt rwt 4a 1K.,3...1U4U D of Columbia S (15i, 10.! 4 117 OS OH 02 .' Oft un on OS SJW 02 n.1 10-, 101 100 Liverpool Cotton Liverpool,' Feb. 4. There was a fair demand for spot cotton today with prices Arm on the basis of an nuvance of 60 points for middling, old contract, nt 17.63d. The sales were 1000 bales. In cluding 700 bales American. The re. celpts were 9000 bales, of which B700 bales were American. Futures were steady In the early dealings. Spot prices were: American, middling fair, -18 94d; good middling, 18 26d; middling, 17.63d; low middling, 16 68d: good ordinary, IB 06d, and ordinary, 14,53d. 2 5 32 1 16 4 -"4 33 1V4 B C',4 44 39 14 31 24 1CV4 RAILROAD EARNINGS CANADIAN PACIFIC Inrreaaa Fourth week Jan.. From January 1 , . . . 1910 $4,101,000 12.7U7.000 LITTLE OF INTEREST DEVELOPS ON THE LOCAL STOCK EXCHANGE Sales Are in Odd Lots and Price Movements Inconse quential Lake Superior, Tonopah Belmont and Tonopah Mining Lead Sales Rails in Demand -1- f Today's session on the Philadelphia Stock Exchange developed little of Interest. While the market Was fairly broad, sales' for the most part were mv odd lots nnd price rnovcirtents Inconsequential. The trading was exceedingly dull at tho opening. Later, however, firmer tendencies ruled, some of the favorites making fair gains only to drop back again to near yesterday's close. Lake Superior Corporation nnd .Tonopah-Belmont and Tonopah Mining made up the bulk of the sales, Tonopah-Belmont being tho only one of the number to make a gain and reaching the highest mark since 1J17, tho other two remaining unchanged. Tho Asphalts, both the common and the pre ferred, closed at slight declines. llalls were In fair demand. Lehigh Valley mado a gain of , with Read- ing up ,. Shares of the Northern Central and Pennsylvania were unchanged. Steel gained fractionally. Philadelphia Electric was up H. Cambria Iron , the trust certificates of the Philadelphia Rapid Transit Company off U and United Gas Improve ment gained a full point. Transactions In bonds were small and price changes of little Importance, 1 Northern Central Railway Plans New Financing Stockholders of tho Northern Central Railway Company at a special meeting hold here today authorized ah lncreaso In the company's Indebted ness ot $8,216,000. AM tho company Is chartered under the laws of Maryland as well as Penn sylvania another meeting will be held In Baltimore tomorrow to voto on th increase. This action Is necessitated by the laws of Maryland and Pennsyl vania, which provide that increase of Indebtedness must be authorized by tho stockholders before any action can be taken to fund the expenditures belns; made for the lmpfovement and betterment of the company's property. The amount expended and not yet fOnded, at the closo of 1918 was about 15,000,000, and allowance Is made In the present provision for future require ments. The securities which may be Issued will be taken by the Pennsylvania Railroad Company, which operates the Northern Central under a long-term lease. Financial Briefs The Public Service Commission of Pennsylvania yesterday notified the Philadelphia Electric Company that the arrangement entered Into a year ago approving a 10 pei cent Increase In all ates. except residence and municipal lighting? would bo continued for another year. Brown Brothers & Co. announce that owing to the death of their senior part ner, Charles D. Dickey, of New York, their office will remain closed until after the funeral, except for the transaction of necessary business. Stockholders of the Pittsburgh, Cin cinnati, Chicago and St. Loots Itallroad Company authorized the Issue ot S3E, 000,000 debenture gold bonds. They also authorized the purcnase of the Indian apolis and Frankford Railroad for 16,000,000. Payment of the fifth and final In stallment of 30 per cent on the fourth Liberty Lonn In the Third Federal Re serve District, which was due January 30, was made as follows: By certificate of Indebtedness, 81,413,600; by cash, 88.467,990. and by book credit. $20,149. 33B; total, $30,030,826. The entire pay ments made by book credit of $20,149, 336 will be withdrawn on Thursday. The New York Subtreasury gained $6,. 844,000 from the banks yesterday, mak ing a cash net gain since Friday of $1, B38.000. The stock list committee has admit ted to the regular list or tho Philadel phia Stock Exchange $1,000 000 ad ditional capital stock of the Corn Kx change National Bank of Philadelphia, making total amount listed $2,000,000. At a meeting of the board of directors of the Olrard Avenue Title and Trust Company, Jnmes O. (Ml. formerly of the 13(1(1 non uanu Tine ami iruai v.uuiiuiiiy, who ap- .'7.000 ' POimeU HUU ! HHOl V..1VC. 4U 1U- ward A. McVeigh was appointed assist ant treasurer and assistant secretary. Frazler & Co. announce that John Lewis Montgomery has become asso ciated with their bond department. At a special meetlne- nt Plttahureh of the stockholders of the Philadelphia Company, the stockholders authorized an Increase In the Indebtedness of the com pany to the aggregate amount of $100, 000,000, authorized a mortgage upon the property and franchises of the company to secure an Issue of $100,000,000 of first refunding and collateral mortgage bonds, payable In twenty-ftva years and to bear Interest at a rate not exceeding 6 per cent per annum, arid authorized an Issue of $15,000,000 of three-year 6 per cent gold notes, of which $10,000,000 ara to be Issued at once. Gold holdings of the combined twelve Federal Reserve banks established a new record on January 31 at $2,112,106,000, an Increase for the week of $10,789,000. The 'ncrease In the gold reserves was largely due to deposits of gold, made by the Treasury. No explanatory note of the deposit was made by the Federad Re serve Board, but It Is the belief of local bankers that It represented free gold held by the Treasury. The Trtasury statement showed available gold In the general fund on January 30 of $187,' 612,825. The Federal Reserve system now holds about 70 per cent of the total gold stock In the United States. Tho committee on stock listing of the New York iftock Exchange recommends' that $60,740,800 6 per eent cumulative debenture stock and $68,742,300 common, Stock of General Motors Corporation be , ndded to the list on official notice of lssu- I ance and payment In full, making total amounts authorized tc be listed of deben ture stock $5,740,800 and of common stock $15,134,300. The committee also recommends that $1,500,000 Northern States Power Company first and refund ing mortgages 5 per cent twenty-five-year bonds be added to the list, making total amount authorized to be listed $23.-068,600. BONDH Bethlehem It (notes). 101 ' I Goiden Oil 6s 86 'a fneilrn & Co 6s 88 llMdahy 7s 102i ) I Russian Oovt 5s.... B4 3' Itusslan Govt GV4s.... 59 Southern Railway 6s. . 984 1 Sinclair Oil 6s 8B Todd Shipbuilding 6s. 104 I- tt 1014 90 92 102 ; 67 61 99 83 107 55 60 2700(1 Pm Rep BaS.10B, 10B, 103. ,."." .",'," .,'." ij JJ 17000 II & Man In 6s 16,i 16 16 ' . A ""'; :;.J JJJ3 68000 Int Met 448.. 40. 40 40 I . ! i,Atre"fV?Jj Hi' 1000 Hit Agr 6s.... 80&. 80 80 1.l ff ' P' '' ",J 1000 K C F S &M 4s 774 77'.' 77'J f d I rult,..162 162 14000 Ijic Gas 5s... 995. 99 99. K,l.,s .' Pf !? .1! 1 JAPANESE STEAMER "MALAY MARU" MOM PHILADELPHIA ) 'OB JCQBE and YOKOHAMA About February 10th Jfe. rrelfht Space an aiae tspptj to r, Dn ft C., Art. qPalwawaWr TelsaeSlg. mHIIIC 15000 I.eh Val rts 6s 102 1000 I.lg & M T 5s 93, 1000 do 7s .. 112's 6000 Lorlllard 5s 91 1, 1000 do 7s . ... 1121 240000 Lib Bond 3ss 99.04 198000 do cv 4s..,. 93.00 11000 do 1st 4s.... 93.00 1C84000 do 4'is 95.46 32000 do 1st 4s.... 95 50 862000 do 2d 4B. . 94.44 2948000 do 4th 4is.. 94.40 21000 Lions Cs 102 17000 Marseilles 6s .10.' 102 4000 Mldvale 5s ... 872 S7'i 2000 Mil . Ht Li 4S. 4! 1000 Mo P WL Bs'26 90 21000 Mo Pac g 4a.. til-, 11000 Mont Power 5s 9.'Ts 24000 N Y C&II 6s.. 99 8000 do 4Hb .... 84Vs iouo.n x i;uy , ion, 10 93s 933 112a 112,, 915 912 1124 112 99.00 99 00 L S lnd Alco.,103 103 V H Rubber... 76,i 75, do lot pref.. 110 110 V S Smelt &Ref 46 46 C S Steel 91 90; 92.82 93.00 95.28 95-50 94.30 94.22 10. 44 90 61 92 i 98 84', 92 93.00 95.40 95 50 94.44 1 do pref Ctah Copper . I'tali Sec Cop. Va-Car Chem. Wabash , do pr A, 103 V,, 38i .. 127- 38s 113 ?4 533 162 18 103 75 V 110 46 1 90"; MONEY-LENDING RATES NEW YORK Money on call, mixed i collateral, opened todav at 4 per cent for lending and renewing On nil In- 1 ll, for lending ana renewing un nil m i, 'dustrlal collateral the opening rate was iV'A West Maryland 11, .i.'. n. . .- ,. 7 Inn) ,, rni uil ten '"- a i ,,, -m- 114'i 114, 113, iu-n 8 lb, 53, 7'. 31V3 10, 17' 53;, 314 164 52 31. ll". 1 I': I West Mfg Wheel . L 12. 1 White Motors 'Willjs Ovid.. 102, 87' 4: 90 CI 9JV. , 'F.x dividend New York Dock, 994 'P""d Bteel Car pr. 1',. 84, "' -t-l HT C- I 42 41U 41 8'4 84 8. . 47 Vi 47 47 ' 25H 244 25 i 1. n,., rent. i The leading money brokers express the opinion that money Is likely to be easy at about the ruling level for the next sixty days, pending the preparations for the "Victory Loan." The mercantile demand for money Is moderate and there Is ho particular In quiry for funds from Wall street. Money In quoted for sixty and ninety days at .Mi per ctriu, inr.unuuii, "sure jor in dustrial loanxand at 5 per cent noml nally on goodxmlxed. The supply ot prime mercantile paper continues light. No business Is being transacted W paper in .New York at 5 per cent, the minimum nuoted. but In ' 4 "The Oldest Company in America The Mutual Life Insurance Company oi NeW York "' 34 Nassau Street, New York, .' - . - In 1918 Paid Policyholders a Total of $69,651,430 One Thousand Four Hundred and Sixty-Eight Million Dollars paid to Policyhold since the Company began business in 1843 Dividends to Policyholders in 118 $19,222,739 Dividends to Policyholders in 1919 ( Notwithstanding the heavy mortality caused by the influenza, and the great increase in taxes, our 1918 rate of annual dividend will be paid in 1919. LIBERTY BONDS. Included in our assets 'are. $63,065,000 of Liberty Bonds May 1HS7....100-; 100'i 1000 N Y Itwy 4s.. 124 121 lOOONTTel gn 4ss 90J 90H 1001, 124 soy,, , Cotton Buyen and Sellers evr York, I'eb. 4. March Abraham, Mitchell. Rosenberg, Burnett and New man bid: titelnbacher, Montgomery and Kleffer offered. May Qer&n. Bartlett. Carpenter. Mitchell and Munds bought : McKnany, Brooks. Flggatt, Young, IUiodea and Newman sold. July Orvls. Stelnbacher, Bartlett, Clifford, Hubbard, Mitchell. Burnett and Rosenberg bought; Ilartcorn, Walsh, Jay and Wachsman sold. October Rosenberg, flchlll. Newman and Mitchell bought; seller, Russell and Wade. Netro Held for Forcible Entry William Harris twenty-two years old, a negro. Lombard street near Hlxteenth, was held In J1600 ball today by Magis trate Imber on a charge of forcible entry. Harris was arrested In a saloon on Third street, south of Market, after two satrolmen had seen, him otimb up the ftreap Wrf' eterr a, 4s4t4.Cy wllrfow. ' f'ft!f r ' r H 11000 X Y W C & B 4Kb 52 tl 7000 Nor Pao 4s ..JIK S3. 5000 do 3s ...... 60 J, CU, 1000 Ore Short I. 5j 08',, D8', 16000-Pa gen ct 4ts 891 88, 32000 do 5k 68 ... 36', Of.",, 33000 Pub Ser N J 5s 79 78, 5000 Pierce O Cs '24 91 91 1000 Pere Marq 4s, 69 Ti C9 2000 do 5s ...... 86 86 lOOOCtnclalr Oil 7s. 6'i 94t lOOOSeabd ALadJSs 0 50 7000 do rfd 4s... 59 59 1000 South Pao 4s. 76V, 76'i 20000 do CV 4s ... 84 81 26000 do CV 5s. .102 101U 16000 do rfd 4s.. 82 i 8!; 8000 South Rwy 4s. 7V 674 1000 do 6s 94,; 94 U 3000 Texas Uo 6s... 102 ioi 1000 3d Ave adj 6s. :', 19000 U S Rubber 6s 87 3000 d 78 104 I9000U H Stl o f 6s.I00 100 r.nnni'nlnn Pae 4s. 87 87 8000 do Cs 104'i 104i 104 169000 XJ ICotO U&I 5VsS 1919.. ..100 100 100 46000 U Kof U B I 5W 1821... 98Ti S8U 9?i 534000UKofOBIi 5s 1917. ..101H ioo; 1014 1000 Va Car Ch Cs. 102 102 103 3WHvawys ds.. si;, j MVMtW., 98 98 ,. ,', IV CO , . ! w 52 83 4 G0 'U 89 9s; 78 . 91 C9Ti 86 4i 60 59 76'i 84 102 2 67i 94i 102 28. 28i 86',; 8C'i 103T, lOSTs the country there are some transactions! at that raie. me maittci uroaaiv is dim 'i I to BVi Pr ceni. Choice bank acceptances are fairly ac oi tlv at Unchanged rates. 1 " " I Call loans on the best bank accept ances are unchanged at 44 per cent, t , ruH.AnKl.rniA can, 6 per cent; tlmo. 50 Per cent. Commercial paper, three to six months, 5 6 per cent; six montllS, u jrer u'ui. FOREIGN EXCHANGE w York. Feb, 4 The market for f&relan exchange, while lacking In ac- .tlvlty disclosed a 'steady tone In the i, l m . n arly dealings toaay. Reserve BanW Dlicount Raiei i Quotations were: DIVIDENDS DECLARED Ilrookljn Edison company qurltrl of nAvaoie rVbruarr 15, qui clc rttAVl flf 1 rVAmA ! A,4 .1 American m. '. -w...o..j. iiuMri,friy I of 1 Pr cent on common, pajatilt lrih. I to itock or record tehruary 15 Htudebaker Corporation, quarterly of 1 -v mm rtn common kiiu uuarieriv nr ll. -.-... v. per cent on preferred nfflnin discount rates at tho i.k. vederai Reserve banks were as follows:- (The first column gives the rates for all periods up to and Including a fifteen day maturity, the second for a period of sixteen to ninety days. The third and fcurth columns are the rates for rediscounts of collateral loans secured by government bonds or notes ) . V r' uov. paper . "!" ?, .. 16 to 90 100i ST 15CJJ.I dars 15 Oar," '" '. Boston J; 4 4U New York 4 Ap I'Mlaaeipm .... ; -JT4 411 Cleveland ....... i K 4 4?$ Jlicnmonu ..,,.. -7 Atlanta ........ V c:hlcaao Ht. IauIb Mlnnrapolla 4 Ban Pranclaco .. 4U Kanaaa City .... Y4 Ualla 4H 32 : i A I7 i ' 7 i.5 4 ia 4H9S J irt Xj. Thompson, formirlv mn. Ilea wuu strewn b minora pa., ig PV1 fl,l,.,,"T , V.fT. J, T.J t f ' n.m.nj ntprllnr 4.7S&!. .jt.1- i ie . '."";-',.'v,r"u.i . .,.:, v.-.'.c" ';"." sixty-aay ui uvmiiwii,, t,nn ninety day bills, 4.71 H. ,, , . Frana caDies n, cnecss .5.45i. Dlres cables 6 35, checks. 8.37, Swiss cables 4.92, checks 4.96. Guilders cables 41 H, checks 41. Peseta cables 20.18 checks 20.10. Stockholm cables 28 20, checks, 28. Christiana cables 27.4, chcka 27.2. Copenhagen cables 26, checks 25.80. Ruule cunency was dull at a decline to mw74. 4j me me lowest fig ures lor Bona, wm ,'asi, DANK CLEARINGS Dank.clearlnsa today, compared Vllh cor reapondln day laet two yyara: .. 1? 11... . 1B1T I PI" Xli"?.Sl,ilS,l.lVjl,jn? 'J1.SSH.4P8 ! ." '""J.,il'i:,2":.VXi-''-l-l''l JiOaivnet wib." i,u"nvp Bl,BDOBVi BAH SILVER aimerelal bar stiver ergioaav ati, ' ,; r '.xi U Balance Sheet December 31, 1918 ASSETS. i $ 17,486,999,93 106,410,090.17 87,735,658.48 444,264,898.62 Real Estate . . . Mortgage Loans Policy Loans Bonds and Stocks I Interest and Rents due and ac- ....,, crued 8,702,744.11 Premiums in course of collec- , non fi tton 5,(13,080.82 Cash ($1,646,229.25 at inter- ' est) ..,.04,,0'eMu Deposited to pay claims ...... 1,148,279.24 $673,714,29333 I LIABILITIES Policy Reserve $536,113,077.00 Supplementary Contract Re serve 4,510,009.67 Other Policy Liabilities 14,023,894.08 'Premiums, Interest and Rents paw in advance .. 1,ZIM,511.09 Miscellaneous Liabilities Due Ranks on Liberty Bonds purchased, with Interest. . . . Taxes, License Fees, etc., pay able Jn 1919 , Dividends payable in 1919.... Reserve for Future Deferred Dividends 61,875,465.28 Contingency.Reserve (Surplus) 16,731,075.52 915,203.83 24,485,664.66 2,807,442.29 21,958,050.51 $673,714,293.83 Gains in 1918 In Insurance in Force, $88,470,427 In Admitted Auefs, $39,714,724 In Net Policy Reserve, 15,052,987 In Total Income, ' 2,986,625 1 - Total Insurance in Fbr December 31, 1918 $1,861,881,953 was ImotaA "tttfcttlSfcaaci JAMES M. DICKEY,-Manager 1001 ClwtAMtt Srtt, PhMarlriplHa, Pa. zJl -.i' idfciitt hi; r I 1 :) I -ia rrb " tmmZL I