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EVENING PUBLIC LEDGEK PHILADELPHIA, TUESDAY," FEBRUAK 4, I9i9
k ' ' A ll
4
fell
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it
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r
rfe
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11
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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
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rrb "
tmmZL I