'O "I. Wt ' Hi . ..jKM TSTT "V ) m " V T . WvV llf" Wat I" Ar ETENIKG PUBLIC LEDGER PHILADELPHIA, THURSDAY, FEBRUARY n, 1919 icndcnce It ......... .investments Umost all successful Ameri- fli cans Iiopc sometime to lie rnurc ur IC33 lICC Hum i,uy- ness cares ami to benefit in later years from their early lV- thrift and foresigliteuness. Financial frceilom can orai-- nanlv be trained only - i. through good investments. '. ...... We invite attention to me 'extraordinary income now available from many securi ties that can be depended tipon for years to come. At the moment $1,000 can be rrladc to buv a large an income as S1.500 would a few years ago. Ath un far l.ltt V. r. it el m. tractive Investment opportunities, (3handler& Company Franklin Bank Building Philadelphia Ne,w York Uoston FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS Philadelphia Stochs PRESSURE ON COPPER ISSUES THE ) wi&ocfa FEATURE ON NEW YORK 'CHANGE New York Bonds llli 214 flume 214 51s ?' Market Unsettled to Pronounced Degree and Stocks uui j'unJau C Al a.I'hnm IV. Drop to 3 Points Utah Copper Sustains Heaviest Loss Steel Declines Rails Drop Net I loA rhff-. ' -1T4 Ti 72 hi u 30 (4 J M High Points in Today's Financial News Copper stocks continued to demand most attention on the New York Exchange. Trade on the local exchange is without special trend and undertone unceihiln. Business showed n material falling off on the Curb with prices moving in narrow range. Neutral rates continue firm in the foreign exchange market, with other rates unchanged. Cotton sells off. Corn turns lower after early strength. Commercial bar silver is unchanged in New York and London. Aihnnce 'SJax Kllbber 3, 1 1. Allls-Cham Co. 3 1 ' 30 'j tii hMf at e t .m Aur Client. 10l)i( I00U 1U0H a; Am U Su(?ar.. CO 67 i 67 U 1 4 i American Can. 47-S ti', 46 , Am c; & y Co. sn : 87 a 1& "U iirci . .1 lii4 1164 I jni roltoli Oil 42 42', Am tiruKKlim. 12i, 11, 'Mil IIKIo 4 I,. 17 tlo ytef. . . . S8'4 .Am int I'orii . RIM, I Am Ice Sec pr 57 I Am I.lnneed pi. 87 Am Loco 6!) do pref lo:'at Am Mall. . . 1 14 Am KmeltltiB . 6334 I Am smelt pr. . 104 Am Hum Toll. .103', nm steel KUry. 781 315000 AtiKlo-Krh Ca. sf", 10000 Am Kor Seo Sa 99t BOOOAm Smelt as.. 90'i 1000 Am Tel & T cv I'm i. 8,i ', Low iD V0 1ne 1'7 S04 IV ft h lit h lit Onr buInn poller ' and always .has been to dtitrlbote Local Industrials Only Adhering to this, we are oflerlnr tlie original Issue ot YORK STEEL CORPORATION , Seven per cent, cumulative, par ticipating, preierreu sil-k on iuc partial payment plan. Upon In vestigation you will find the op rjortunltv for conservative 'nvest- r meat beyond the ordinary. Vlnute oetans wm do lurnisnea on re quest. Benner & Company, Inc. Widencr Building TValaut Three-ronr-riTa New York, Keb. fi The stock market nn unsettled to a pionounced desree nil lliroiisli the lln'.1 tradlnc, ulth. Various developments in the cupper trudf beltiB reflected In pronoiinceil presiuie In copporliroduciiiB k lock a. i It became known early In the day that 6,000,000 pound of copper hail sold at 18V4 cents, or fi cents below the ltiit price fixed by the Rovernment, nnd this news cniised a good deal of cnnjeutuie ui to whut the rcult will lie on the labor Munition. It ii taken for granted In .'curlt lioldltiR eirclei that dividends on ruppr stocks must be t educed ut Hie net dividend period. Thoe Issues today sold down fiom 1 to 3 point", with Vtuh Copper under the greatest pressure and sustaining the healeMt loi, Uuring the afternoon the steel Mocks became neak. following the pub lication of the unfaxnrable ie)ort of the American Steel Foundries Com pan. Whli h L-u riled that stock down from 78 to 73. I'nitetl States Steel common, which had held Hrni during the fmenWin. declined mole tlian I point to S9'2. and American Car and foundry sold down - points to S7 Murine piefened nl-o developed weakness in the forenoon, declining finin !)7 to !;'. The railroad stocks, joined In ihe downuurd movement, I'nlon I'a uflc falling from 128 to 1-6', and Southern l'aclfic, which liad sold at" 'J9lt. declined to below 98. fieneral Motois, after advancing from 131 ',4 to 134, lost Irtually all its gain. The bond market was heavy partly because of the continued piessuie against the fouitii Liberty -JUs. whlih sold down to S4.0". Many railroad bonds were In supply at fractional concessions COTTON PRICES DROP BUSINESS FALLS OFF IN INITIAL TRADING IN OUTSIDE MARKET Tel 1001 j 11)0 U IHT'T 4B4 94', 33 .-I!', 19', S100-S500-S1000 ExcCDlional Security Unfavorable Mill News Forces Trade Moves Within Narrow WE OWN AND OFFER SEVERAL , SECURITIES OF THE HIGHEST DUALITY IN DENOMINATIONS OF 1 $100. 5O0. $1000. THEYIELD IS GOOD, SECURITY UNQUESTIONED. INFOR. IMATION DY MAIL OR OUR REPRE 8ENTATIVE WILL CALL. - iivrn ivi iiia o VAllUl cMIRCn. HiLinu a ivunu LAND TITLE BUILDING Decline of 1.'5 to 16 Points. Setback Meets Support Range and Is Generally Without Feature W V JT . tnr '' -I BOSTON PHILADELPHIA CHICAGO ! A it E-- i "i LIBERTY BONDS BOUGHT and SOLD tt Any Denomination Samuel K. Phillips & Co. T V 807 CHKSTNUT ST. Kmnbera rhlladetphla Mack Eichann T!- 'JAPANESE STEAMER . i .- J' I. iK '.'MALAY MARU" FROM PHILADELPHIA FOB KOBE and YOKOHAMA Sailing About February 10th Far Frelclu Space and ltntM Apply to J Gailey, Davis & Co., Agts. 316-320 Walnut Street PHILADELPHIA Fbone Lombard 3005-4-T fOTTOX nF.i.T iiiltiii:r omitions New York. IVh. l. Thp follnMlns lm prutnre were recorilfd In tlie. cotton belt IhU mornlnc: KnoMlllr rnil Nakhtlllp. 3tl Mlnnln nnd nklahninu (Itj, SO) .iiculn. 34i Mrmplil" unci Vlckhliiiric. .10: Mimfport. I.ltllf Kork anil lnitHcnlit. Hfti Itmlnnton. 40i Macon nnd Chnrlrftton. 4?i satiinnth. 44l inn An tonio, t orpiiH Chrifitl nnd ThomnHlllf 46: Nw OrlninH, 4Ht t.almton, AUt Jackon- iiiii-. .11, una l ii m nil. sn. Tlicrr a .01 Inch of prnlpllatlnn at Mrkuliuric, .00 ut Meridian, .IK at Mttcnn, .14 at Aumstn. Charleston nnd Savannah. .10 ut ,lackHomlltc, ?! nt Ullmlngton and ,'ZH nt Tampa, w York, Feb. 6. The unfaorable , Nfcw Knuland mill news this mornlnu Iliad much to tlo with an opening drop i ot 13 to 16 points In cotton prices. Sentiment was bearish because of this and considerable unloading, In part for ! Liverpool account, causing prices to fall i about 23 points under last night's close, I although the setback met support from I I spot houses, which rallied It about 6 I points and the market was about stead. ' The ially from the early low level I carried prl-ca hack to about last night's closing figures After the close of Lh- 'erpool, howeer, demand slackened and, . ,1,.. AMl,n. .1,i.lnn,il ..Ania.. Orl M'lllLnPBa t illO lliaiJVUb HC,CIU,rM it.tt.tv. v,-,,.w- -n, n. . . -r ....,,, CTV under continued selling by houses with I - ' j,,1 ""u --"omarine uoat, at 10 May soon sold off to 21.BTO and Julv to 20.75c. or 43 to 4S points below last New York, Ken. 6. Business kliowed .i material falling off on the Broad Street Curb today with prices gener ally moing within a narrower range and the market generally without Im portant feature. General Asphalt sold down from G4 3 lo 03 12 and rallied to 65'i. showing a better tone than in the preceding two das Dealings In oil stocks were small but a strong tone was shown In the Stan dard Oil group and accumulation was In etldence In some of the Independent oil shares. .uiuwest was traded in at 140U to Merrltt. at 24 and 24".: Inler- Petroleum, at 21 ' to 22'i. at G'i and 7. 141U national and Coiden, Am Tel & Am 'r,lnirtrt I f. ' Am Wool . . 4ii do pref . . i4ij Am Writ Pap pr 3J MlHCOnUA . . . 6 7 n Asso Dry Ooods 2ti4 Atchison . . .. ftji. Atl Oulf & W I 88 Bald I,oco ' . 68 1 Baltlmorn & U 4Clj do pref . 64 'j oitrreu .o ljii UatopllaK .Mlu. Ii, Beth SUel . r,9' I do II 69 do 8pc pf .103U I Brook Hap 'JY. 22, i Booth Klslierles lit Burns Broi .142'i, Butte Cop & 7. ii " Butte , S fop. I7i Cal l'etroleum. 24 do pief . . . ii:'4 Canadian I'.ic. ir9. Cent Leather. . CS'j I'eiro de Pasco 32 t I'limidler .Mot, US' . i 'lies &uhl. . 53'", i' SI & St V 7 ' do pref 72 .' It J i.Plc 2.1 1, do' 6 p o pref ii4' Chile Copper.. 17 Chlno Con Cop 3J'4 Col tias & i:i . 40", Col & Smith . 20i3 Consol Gas . . 94 Cont Ins 66 Corn Products 4S 'Crucible Steel. 54 Cuba Cane Sug 22a, do pref. ... 75 Den & n (5 pr 6t; Dome Mine... 13 Distillers' Fee. 64 a, Kile Id Ked SI & S pr 34?, Gaston Wlllnis. 27 ' Gen Cigar Co. 50"4 Gen Klec Co . .149 Gen Slotois 134 Gen Slotors -ts 2 do pref . . S64 Goodrich B K. Ciji, do pref . . . .14 Ot North pf... 92', lit North O sub 38, Greene-Can Cop 42'j Int Agrlcul pf. 55', fnsplda Copper 43 , !nterb-Con Cor Bt I do pref . .19', ' Int Sler Slarlne 22 do pref ..97U Int Paper .. 38 1, do pref sta 65 Int Nickel ... 26 Kelly-Sprlngflld 79 1, Kennecott Cop 31 Lehigh Vallev. 56 Lee Rub & T. 24 4 Ioose-V Bis C 42 ii Ixirlllard P pr.108 Mackay Co pf. 64 Max Slotor ... 31 do 1st pf. . 54, SIe- Petrol ..170 Miami C Cop. 22, Mldale Steel . 41, SIo Pacific ... 24', do pref ... 51 N'at C & Cable 14it Nat Kn & Stpd 48, Natl Lead .. 6R I' ll Illl SI 2d pf. 0T, 16", S7, 531, 57 87 ; 69 102i U 62i 104 101 -' z 92 j 92 Ij 97 !'7 66 ' 66", 46i 46ti 54ij 6I2 112 113 59', 69', 69 59', Kl3l4 lull', 214 23't 18H 18't 138 14P, 6 0 17 17', 2f.', ".la, 091, fcflii 158-4 l."8ri 56 58 .12'; 32 14 113", 1133, 87 A I5i .. 42 a 11 166, 87 . - BJ'i , 6 ' 97?i U 6H ---lij , 102'i4' 1 U 1 1 u 1 C2?i 1 I 104 -If, I 101Tb -'; 74 4, loos, ,, l7'a l-2; 46 '3 I 94', U 33 56'i 1U 2IH lb :'& 39000 do lis -.ivuu Airnison is... 833 3000 Bait . O 5s. 82 V 1000 do Is 773 2000 do 'V 4 'in.. 78 "nftn hi.ii iijii Ti r.j ?i t. 5000 Bordeaux 6s..l02J0 1000 Can Gov 5s 21 974 9 1 6000 do 1926 97 Vs 1000 do 1931 97t 1000C C C & St I, 4'H 79U 6000 Cent Leath' 6s D6, 6000 Chile Cop 7s.. 106 1000 C & O cv 4'8S 80 4000 do 4',s .... 793, 11000 do cv 6s ... 86 12000 C (St Vest 4s. 6 2' 4 22000C B & Q 4s... 96 18000 1' SI & St I rfd 4'aS ... 7 1 , 18000 do cv 4 138.. 77'j 44000 City Paris Os.100 7000 D & 11 a 4s.. 72 1000 DIs Sec Cv 63 90 9000 i:rle conv 4s Ser D 43'j 85 ' 86 14 ,102 102'3 '"!' 83t 73 8 71,'a i !4 ill 79 'S 9Glj 106 80 79 i 85 4 61 U 93 T, 71's 7li4 4 - 90 491, ill I'i 89 v; 88, 98.90 92.80 92.98 95.08 95.12 !U.3I 91.16 91.20 94.02 99.00 92.90 93.00 93.28 93 United Slotors was n trn .,. 0.eV, S2n. -0''- I?- selling at 3D', to 39', United States N V ai AK X Y Cent. ... 7" NYC&StL2d pf. 43 ia Steamship was firm, with sales at 3i n ' KeJ'stone Tire sold at 61'5 'War stocks were Rteady. Aetna selling t 7, and, 7's ; Wrlght-SIartln, at 3U PARTNERSHIPS tStrriCK IS HEKKIIY Vr uartncrahlp operatlne a ijMITH t. HOOD t,V IsUhia.dar uisoicii. ' i 4 Financial Briefs rights losing figures, There seemed to be no fresh news fea ture connected with thS break, but there was a feeling around tho ring that the ccattered southern selling probably re . fleeted hedging of spot cotton disturbed I by the unsettled state of affairs In the I goods trade. ' The receipts at tl ports for the day (!lli: THAT TIIK are estimated at 15,u00 bales, against 16,129 bales a week ago; 13,690 bales a jear ago and 10,877 bales two yeais ago. Vest. Todi', 111.30 11.30 1:30 2:30 iIgm open am am pn pm ,March . 23.43 23.20 23 O 23.10 22.03 22.05 'lay . . 22 IT2 21.00 21. H5 2t.K0 21. 4S 21.25 July . 21 IS 21 05 21.00 21.0.1 21.115 UU 4 ,i.l JV.i IV. LU jinircuiiuneniai llubber sold at 18'j. IMICSTRIALS ' v. .',T la annntmn..! l-i- . V. a .....ii ,. ' JUIJ . .1 -1 " .)." - :iawr) that" the Philadelphia Com- , auber- 1B 7 "'WJ-i: k. v,l Mm. Iiiivn all h..n tmlil t CT! """' I -.- r V' t ' W. P. I'assmore. governor of the Ked fvral Keserve Bank, was at his desk for j-n snort time yesieruay for the first time '.' nce his Illness last Christmas. He hVmlIl take a short rest befnrn rMumin. '. ',YJil active duties. 'collateral, opened today at 4'.i per cent for lending and renewing. On all In dustrial collateral the opening rate was 5 per cent. Time money touay was umuaiiKeu at 5'i per cent for sixty to nlniH.v days uli Industrial loans, and 0 to 6 'j per jyj-eaerai itesere uanK, is serving his cmt for mlxeu conaicrdi. Acceptance I tvnti'iltlli !.rm tin lpe..ti,.. n .L.. I t. 111a iccrn 4 R1 R nnd 4 1 llfr cent fur it Chamber of Commerce, I member bills and 4sj and 4 5-16 per cent i -1 I fi- tirtnmpmliArH- ivkl Sloney brokers said thete was ery ine aojournea annual meeting of the little doing in time mone, tnere Being only a mouerme unumiu iur liuiub. nichard Im -Austin, chairman of the tFederaI Ilesere Bank, is serving his MONEY.I.KNDING HATES M;V YORK Sloney on can, mixed t ' - ..-- .rf-. h. .. -- . ii.ua. ,lircl4IIM HI HIP LiChlcago and Hastern ll.lnols Ballivav v- ' v ut,t llrtD uBrtm ueii aujourneu --jinput action to .March 5, WXr 1 . ll-uner x'arsiv nas Deen mnd man. rhger-of the sales department of Harper ' i Turner. Mr Parsly has been as- 'Mttlated with that firm since No vember, X9)o. Mexican Tetroleum rommnv i,n fld all outstanding Aral lln nn.i refunding convertible 6s. set lea A, B ma- u, nue uciooer. i2, payable at I'lIII.AnKI.I'llIA Call, 6 per cent; time, 6'i 4? Per cent. Commercial paper, three to six months. 50 6 per cent: six months, 6 per cent. LONDON Mone is quoted at 3'i per cent. Discount rates, short and Ihree month bills, 3 17-32 per cent. Aetna HxploslNes . . Am Brit SIfg Am Slarcont Am Writing Paper. Air Reduction Canadian Car Cn Con Car & Kdy pref. . 65 i uarcoai iron 7 Chevrolet Slotors . 130 Cramp tb I'urtlss Aeroplane . Carwen Tool Carbon Steel Umerson Phonograph. Hendce Alfg Lake Torn Boat ... . I.ehlgh Val Coal sis i.inia iX)co Jlaxlm .Munitions . . N V Shlnhulldlno- Nor Ainer Paper Pulp Otia Elevator j-eericss jiotor Poole Hng Scrlpps Booth . Standard Motors . Steel Allojs . Submarine Kt .lfta.nli f an.1 Todd Sblpbul'ldlng". '.'.104 inangie Kiim u 1 lilted I'ront Sharing 1 is I. H Steamship 3,; United .Motors ... ,39a. World Film . Wright-Martin Air .. 3J STANDARD Oil. Illinois ins Ohio ...a24 Prairie Pipe 260 S O Cal 2;i O N .1 690 S O N V 327 50 25 31 U 90 10 1 83 29 '.i 34 3; 65 18 20 15 10 12 , Tea. clos- AK 6 4'i 3i 56 33 80 T.i 160 S3 12 8 95 2'i 18 li 86 33 !4 35 3Vi 68 19 40 30 ?U 11 13 107 N V N H & II. 28 '- N Y Ont & W. 19 Norf & West. .106'2 Northern Pac. 90',i Oklahoma 11 It 8'j Ohio Gas 40', Ohio Gas rts . 2', uniario Miner Pacldc Stall . (sale) Pan-Am Pet . 00 prer . . . P It II... Peo Oas & C. I PhlU Co . Pitts & West. 1 Plerce-Arrow I Pierce Oil . . . 1 Pitts Coal pref 86t , r-unman f .'ar.il , By Stl Sprg .. 7 Kay con Cop. . I Beading 1 Hep Iron & Stl I Itoyal Dutch . !axon Motors . St L S F. . do pref . . Seaboard A L. do pref . 33 . 69'i .120 . 4 44 . 47 . 32i . 33 14 . 40 17' 1 ST. 39 , ' 3U 3'i 10i 3i 39, 3'i 79'. 73 75'i X4 12 23 74 1G i -- 's 6 3 'a 17', 32 411', 20', 93', t.3 47 53 14 6', 12 53'. 34'. 26 60 s4 148 131 2 s, 83 59'2 103'2 92 'i 37", 42', 55', 42 "J 5S4 17'-, 21', 93 , 37 63 26a 78", 30", 54 T, 24 42'i 108 64 31t 54 165; 21 T, 40", 23 a4 50T, ll'i 47; 64 ', SV, 16", 31 14 954 72 43?, 28t3 19 '4 105's 90i 8'i 39, 2", 3 J 67 Ti 119 44a 47 31j 17 80'i 117 7(1 ' 19 '3 77'i 2', 74 U 8t 12 23 7 V, 15T4 30 22', 04', rii, 71 1, .102 '4 66'. 90't 32 ' 4, 20', 93', - I 66 - I 47- 53I4 ti", -- I', 34', - -Si '.. 1 1 50-4 118 131'., 2", 85 ' 2 59's 104 92'i 37 , 42', 4 55', -r- , 42, T, ', -I- ' 17' 2'i 214 95, 38 65 25', ll4 rl's I'i 30 , 5IT 21 42', 108 04 31', 54 163 5, :i; 21 Ti 40", 31000 Krch Hep 61,8.106,', ioi-f, 10 iuuu utu r.iru ii";n .0-3 . , 7000 do deb 5s,. 99 99 26000 lntb .Met 4'ss. 10', 40'i 2000 lilt Agr 6s. . A 79s, 794 2000 Kick Stl 5s '30 80a, 86s, 1000 Lk Sh deb 4s 1928 S9' 6000 do 1931 88" 5000 Leh VI rets 6s.l013i 101 1000 Lorillard 7s ..113 113 692000 Lib Bond 3i,s 243000 do cv 4s... 220000 tlo Iht 4s. . 134O000 do 4',,h... , 46000 do 1st 4l,s. 842000 do 2d ItTls. 2384000 do 4 tit 4 'is. 24000 Loni 6s KlOOMIdvale 5s 6000 .Mo Pac W I. 1926 6500 Slo Pat gen 4s Ii 4000 NYC & 11 3'js 72 6000 NYC & II 0s. 99's 6000 NYC & II 4'jh 85', 1000 N V C 4s 1957 90 H 1000 N Y N II&II 6s 85 3000 N Y Uny 4s.. 11 33000 N Y Ilwy 5s. 12i 1000 N V T gn 4'i,s 90k, 2000 Norf South 4s 84", 20000 North Pao 4s. 84 3000 do 4s 60 29000 Pn gen ct4',K. SO 7100QPenna 5s '68.. U0C, 28000 Phlla Co c '22 92 6000 Pub S N .1 3s. 79 8000 Sinclair Oil 7s 95I-, 2000 Sea A L ad 5s 50 3000 do rfd 4s . 59 2000 So Pac so Is 81 12000 do c 5s . 101 i 5000 South rtwy 4s 67",. 1000 Texas Co Cs. I0o4 15000 Third A adj 5s 29 1000 U S S & It 6s 99is 6000 U S" Itealty 5s 63 5000 U S Rub os. . 87 5000 do 7s 104 19000 U H Stl s f 5s. 1001 1000 Union Pac 4s. 86V3 200 Union Par 6s .104", 5000 U K of O H & I 5ss IS 100 3300 do 1921 .. 98i 266000 do 1937 .. .101 101 10000 Va 6 Brown Bros 70 70 3000Vn-Cnr Chm 6s.lOI 101 2000 West Klec 5s. 977i 97' 700(1 West Sid 4s . . 61 60 102 86', 90 U 61'4 99 U . 86 ',a 90'i 85 41 12 U 905, 84, 83 60 88, 96 a, 91 '3 78 a4 93 3, to-", 69 84 101?-. 76, 101 4 29 99'j 64 ', 80 T 104 100 '3 862 101", 100 98", 83 'i 82 77'i 7R 7H,I 97--, ! 97',, 97 , 1 79'i1 96 I-, 106 80 79 , 851 62 ! ' 96 , 7l 773 100 72 90 ' 49 1 105,", r3'.i 99 ' 40Ci t 794 865,; sou 1 88",' 101 n, ' 113 98.96 92.86 ' 93.04 1 95.14 I 95.20 94.20 94.08 102'i 86', 90 I, 611, 1 1! !9' 85I3 904 85 , 41 12&, !illJ 84", 83 , 60 88': 96 5, 91"- 79 93', 60 59 81 llll - 07", 101, 29 991- OIU 87 104 llOi 86 13 104", 1110 9S, 101 70 II 97 T, 1.0 Blah 3Allla Ins U"i 28 Am Gas.. 63 372 i:ico Stor 64 314 Gen Asph 67 412 do pref..l00" 100 II & B T pref ..19 17 Ins UNA 27 Ti 25 Hit M SI pref ... 96 425 1.1; Hup C llifi 215 Leh Nav. 71 i 33 Leh Val.. 35, 2.Mldvalo.. 4 1 '4 280Peiinalllt 44 , 200 Pitts Out 86', 10 Pa Salt M 84 j 10 Phlla Co. 32 J3 75 do cum pf 33',, 979 Phlla Kleo 23j njpr.Tti! 24f, 5 Pit Tract 69 '11 2035 Ton Bel.. 3 4 100 Ton Slln. 3 40 Un Tract 85 U O I... .72 10 1' N .1.187. 205 I' S Steel 90', in War I &S 8'a 1 Wct Coal 75 5 W Ciamp 80 Low 19'a 03 634 61 98 11 96 193 71 65'i 41' 44", 86'i 8l'j 32 '4 33 25'i 2 I'i 69 -, 3s Net thie. 3f .SI' 7'a 37'4 187 89' .8'i 75 80 l'loe 19',', 63 54 4 65 '.3 99'. 4 19 27 96 IS'.i 71 55U 41l 44j, 86 Ji 84 V, 32 33's 253 2ti 09 Ji "i St. .. 37'4 .. 72 . . 187 2 89'4 1?. 8 '.3' ht TO 80 :u 1 - ft 4s IMl.NDi lllah ixw 4(00 200 3600 60 350 43 Is 96 ; 96 i 96 C9'.i SlIMIO CltV 11MO. lo '1947. 2000 do 1015 12000 i:i & Peo Tr 4s. 1 r.n t.lli ltnnds 1st 4s. 92.70 do 2d 4s 92.50 do 4th 4'is... 94.10 do 3 ',j s. 98.70 do 3d 4)48... 94,80 11U0O Pa Co tern cts 4'js 90', U 100 Phlla V'leo 1st 5s.. 94 3000 do 1st 4s.. . . 1 7i 3100O I'll Hwy lnv 5s. 60 96i 96 i 96 69'i 92.70 92.50 94.00 98.70 94.80 96", 2 Net Cloe chse. 964 .. 96?i at 96 ... 69'i .. 92.70 .. 92.60 .46 94.10 98.70 .30 94.80 96'j 93 LOCAL MARKET WITHOUT SPECIAL TREND AND UNDERTONE UNCERTAIN 75 75 -I'i 63 's 63 li More Than Ordinary Number of Issues Brought Out, but Sales of Most Stocks Are Small Tonopah Bel- mont Continues Active Rails Uninteresting Today's session on tlie Philadelphia Stoelc Kxchangc, -while fairly actlva and wIlli 11 more .than ordinary number of Issues coming out, was without; special trend and the undertone seemed uncertain. An effort was being made, evidently, to feel out the market, with the result that In some stocks but one or two sales were made during the entire day. Tho start was extremely dull, although prices firmed up nfter the first hour or so. General Asphalt made quite a spurt during' the lale morning, and fair advances were recorded In both the common nnd preferred shares. Philadelphia Electric was traded In to a considerable extent, and declined fractionally. Little of Interest' occurred In rails, this group making only small price changes or lemalnlng unchanged. Tonopah-Belmont continued active nnd during the session equalel Its high price of yesterday. Less Interest was taken In Tonopah Mining. While the bond list was broad thnn usual, transactions were Itidiffeient and price ohanges of little consequence. One sale of a block of United Hall ways Investment 5s changed hands at an advance of 1 points, nnd a turn over of $3000 Philadelphia Electrlo first 4s Jost lji, at la. . Large Subscriptions to Fifth Treasury Loan Although subscriptions to the fifth offering of Treasury loan certificates will be received until 10 a. m. tomorrow, the Third Federal Reserve District has already "gone over the top," with subscriptions at noon toTlay of $45,400, 000 against a quota of (42,400,000. On the results of the campaign John H. Mason, director of the war Joan organization, said, "We are meeting with great success. We have probably 10 per cent more banks subscribing to the present offering than to the last Issue, which Is the encouraging point to me. Tha banking Institutions In the I Third Federal Reserve District hae shown splendid co-operation In both I the amount and number of subset Iptlons." , To noon subscribing banks totaled 616 against 57u on the last Issue r I'HILA. INACTIVE STOCKS Following are quotations for Inactive I stocks listed In the Philadelphia Stock Exchange and in which there were no ' transactions today. The price given is the last prelous sale: . fn rvi 7i Leh Val Tran 20 Am Milling.. lO'.i UtBra ... J Amcr Stores. 25 Little bchul 48 Am Stores pf 90 Norrlstown .-1 A O war ... "'a Jvo'" Central, ij Baldwin Loco 664. North Penna., 94 Brill .1 G.... 20 Pent! Nat Bk Buff & Susq. 70 Cambria Ircn 41 Cambria Stl. .113',; Cataw iBt pt Deserve BanW Discount Hates Official discount rates at the twelve HSS aS H 53 SKattSy.nriefo? "perto-d MMMMnx I ondon Inland Th.Tw" of sixteen to ninety days. The third ;o7-con"e?Un!2sneJ-boTd,Pir, o "", 'ur(" l0lu"T T ,the '" " R,.V-nr ii. ,..rn,. n.nuu ,.."', red scounts of collateral loans secured tniHn va, - s-wi,, ' j viKcrn uu .litt irn bj Aft roll iiy. nenen j. ana i- mnin ar tfavrtlblft into common stock at par. pj uuiiuh re pt)HOje m pounds fe tonvcriiuie mio common stocK Tcomnanv at 200 nlni tin f fT'MQck. KUbJeet to adjustment be- . ccruea interest and dividends. era or the American T.anWrft' linn nrm rorltlnD. nnnla.. Sum asking thlr e.presslon of , i.SnRK"T.; j-. iT.." ;:. """.'"."r . """ Kainaa wily nii.u .uiitiimirB un January iiaiu, ... tne Headquarters of tlie ,uni3. removed as soon as possible to Jim. j. tne association has ueauauarters in X'etv Vnri, ..- kn thirty years. Tlie matter has Micht uu at this tlmn m th. ... rihe establishment rectntly of a vwi uitii-o ui iiMs united states ur State Banking Associations. co eminent bonds or notes.) Com.paMr Gov, paper iu 10 imi m to un Uoston . NVw York Philadelphia I'let eland . Richmond . Atlanta .. . 'hlcso .... xt. i.oui 15 la)s d,v, 15dai, daya ..4 4'i 4 4 .. 4 .. 4. 4 411 . . 4 - 4, 4 4U .. 4'f 4. 4 4Vi . . 4',, 4 4'1 4'I .. 4'J 44 4 4J4 ...4 4; 4 4I . HS 4 4'i . . 'j 4J 85 4 4'! 0 4'i 4l 49 327 272 277 G95 330 Sears.rtoebuek.175'4 175'i Hloss-Sh S & 1 49 49 do pref 88 88 Sinclair Oil 35 34?, .Southern Pac. 99 'i 97 V4 Kmith.rn T r ofis. !- do pref . . . . G8 C8 Studebaker ... 51 'a 50i IKtutz Motors. 45' j 44, I Htromberg f 'arb 38t 38?t iTenn C & C w I 12, 12Vs Texas & Pac . 23 31. Texas Co . ,.189'i 180'i Tobacco Prod.. 79a, 784; Transue Wins. 38, 38 t Un B & Paper. 76', 76 V, Union Pacific .128 12G. I United A Stl . 311- 38Ti United C H...114'.j 113'i 113, United Bv lnv. 10 ) !M, do tiref . ..20 19 19'i 234 60', 14' 47i 115 T 10 3 32 90 72 43'-.. 28'.i 19'-.. I06, SOU 84 39 2?, 7's 33 68 , 119 44t 47 31i 34' 39 , 17 U sou 117 70 Vn 13 Vi i ", 72 K 74'3 8 12 23 7'S 1ST, 1"5?3 49 88 34 , 97 t 26' j 68 60, 44, 38-v4 12'i 31 186 78'j 383, 76 'j 126, 39', . '' - ', Hi 2 '4 1 M 1 1 Wheat Flour Output Decreases Mlmieapolla, Feb. 6. The Northwest 1 em Miller says that the Minneapolis I wheat (lour output last week decreased 25,140 barrels. Tlie mills matie, ween ending February 1, 213.215 barrels, against 183,325 in 1918. Millers are dls appointed In the demand for (lour. They anticipated an Immediate esponse when the announcement was made by Julius Barnes last week that there would be no decline in wheat below the go em inent guaranty on this crop at least. Cataw 2d pf 54 Cen 1'as ltys.109 Con Trno N J 62 Corn L'x X B.345 Urio 1 Fire Asso . ..285 Frth St Nt B.310 Hunt & H T. 10 Keystone pf . 60 Key Tel .... 11 Key Tel pf . . 50 Leh Val tr pf 20 war -' Penna Traffic 2'j Phlla Co pf. 31,'j Phlla HI w w 2U Phlln & West 0 ' Phlla Trac .. 19'.i i: Penn n n 53 1 H T 25 !!) Gen .. 2 Un Ks In pt 14 Un Pass IlH.150 White Motors 47 ',4 Welsbach ... 41 '.i W Jer & S S 45 Rank of England Statement London, Feb C. Tne weekly state ment of the Bank of Kngland follows: Total reserve, 29,906,000, Increase of 59.000: circulation. 69,980,000, In crease 646.000; bullion, 81,443,000. In crease 70G,000; other securities. 83, 469,000. Increase 3,033.000; dther de posits, 115,481.000, decrease. 8,121.000; public deposits. 307,21,000, Increase, 410,000; government securities, 50, 838,000. decrease, 6,054,000. The pro portion of the bank's reserve to lia bilities Ib now 20,60 .per cent, against 20.13 pen cent last week, and com pares with a decline from 19.37 to 18.56 per cent this week last ear. Clearings through the London banks for the week were 5G3,720,000, against 452,500,000 last week, nnd 440,560,000 this week last year. NEW YORk COFFEE MARKET New York, Feb. 6. While the Rio spot market was reported 200 rels lower Santos unchanged nnd futures 25 to 75 rels lower, firm offers from Brazil con tinue scarce nnd higher, with Santos 4s quoted from 20 'J to 204, steamer ship ment, London credit. The local market opened at a decline of 18 to 25 points, which uncovered stop orders, with may selling off to 14.60. Trading, however, was very, quiet with further fluctuations narrow- and Irregular. Mav. . July September December .Tnnuary . . February , Yesterday's tlosn .. 14.. .... 14.10 la.sr. .... is. us .... 1JI.IUI .... 13.55 Toda 'a openlns 14.511 14.211 I3.SII 13 00 York ny York PC 7 ',4 GOVERNMENT BONUS Bid Asked Panama cou 2a. 1030 07 .. Panama reg- as. 1030 07 OS'.i 1'anamA cou 2s, 11138 Ji I'nnnma reic 2 ll" I'J ;'M ranama cnu 3a. 1001 R7 12 Panama reic 3s. 1001 S7 112 Philippine 4s. 1034 Jill tMI Philippine 4,, 11)3.1 on 00 rhlllPPlni 4. 103(1.. on 0, , U H Hov cou 25, 1(130 tlj'i OS'i IJ H Oov ree 2. 103H 07VS I'M, IJ H ll'iv ou S. 1010 Ml 02 U S llov res 3s. 1(1411 HO 02 t; s aov eou 4,. 1D23 104'1 10,1'i II H lov re 4, 1112.1 , H'"4j 'H, Dls of Columbia .1-0.13. 1024. 07 100 ixbcutok ClIAitTKKEU I860 TRUSTEE FIDELITY TRUST COMPANY Member Federal Reserve System Capital '$5,000,000 Surplus $16,000,000 Main Office: v 325-331 Chestnut St. 43-53 S. Fourth St. ADMINISTRATOR Broad Street Office: N. E. Cor. of Broad and Chestnut Sts. OCABDIAN (13) 24. 1W 1 -r -1", 1 694 IfS I Alcohol. 1 03 U 101 'i 10 1 4 M . IM1KI'K.'Ii:.T OIL STOCKS Harnett oil & G... j. Cosden & Co . 6 Llk Basin ti Federal OH 31: Inter Petrol 2l, Houston Oil 82 Merrltt Oil 23 i Midwest Kenning ...142 Met Petrol s Ohio Fuel 16 Oklahoma lief 1- Sapulpa lief 715 Sequoyah ' . Sinclair 24 L Island Oil 7 a, Qlcnrock Oil 3i 6'i 3. 22 i 83' 24 U 143 31; 1 ': 25'i 7a 3!4 3' 24',; 140V? 1 L S r.ubber. . . 76 I- ti On. C. T UT! I L S Steel 90, do pref. ... .114 , 1; 'Utah Copper . 68 ijinn .-ec oro juu Vn-Caro C'hem. 52 a. Wabash pf A. West Md Went I'nc pr&f West Un Tel. Westlnghouse., Wheel & L 13. W'ltltA Mnlnru ,, Wlllys-bverld'. UU IJI CI Woolworth Ml 5 44 44 89 89'.: 114', 114, 65 ', 16 V. H I I'i 52 a, 62 ',i 31 , 31 U 10, 10', 58 58 86T 86 Ti 42V. 41, 8", 8, 47, 47', 26 , 24 Ti 65'5 3 16 ', 52 '.O , 31 i 1; 10's i 68 a, 86 Ji . 41 i. 'a 8. ',, 47', .. 24 1; , 88', 12H',i 126'i, 126'a 'j 3. jWthgtn P &'M. 62i 62.', 52., I' Atlanta M.IMNO HTOOKH 4'i 4S 5 4'. 4", 05 4 ew Tork Subtreasury lost 1212,. e banks yesterday, redueinv ih. i.galn since Friday to 13,623,000. of the serUce star opposite mi i'v lunruau wincu has government contract la an which has attract, nifn. IH quotation board of Hecker Ipbla Stock Exchange, has a. to nis noma since last Hat- com.- mil. 11 is expected I tw Vck at hia dk In rORElON EXCHANGE New York. Feb. 6, There was a firm tone to neutral rates generally In the foreign exchange market with other rates generally unchanged. Quotations were; Demand sterling. 4 75,, cables 4.76,',, sixty-day bills nominally 4.7S'i, ninety day bills 4 71',,. Paris checks, E.45,, cables 5,45. Holland checks 41U. rabies 41i, Swiss checks 4.92. cables 4.89, Stockholm checks 28.10. cables 28.20. Christiana checks 27.20, cables 27.50, Copenhagen checks 25.90, cables 26.10, Peseta checks 20 14, cables 20,22. BANK CLEARINGS Dank clearlata today comparad with cor- .pona.M t o jj.r., F'hlla .-. tH4.7si.n.io f.v..H(io,soT Jo,ojo.-;7 UiJton , M.n.R24 ss.K2t.Ant s.2U.His V Vurk SJ3.II20.4VM S3S..V,A.St3 f,fl(l.0.1a.,M !?i 4i 3T. 4?' 12 46 Big Ledge Hutte New York . Con Aria - c y S & Jerome First National . . . (loldlteld Mercer iiomneid cons ....... 20 (loldHeld Florence ... 13 (loldfleld Kewanas,,, 4 ureen -Monsier Ilecla Mining ...... iiowe Kouna Independence Iad. Jerome Verde ,.... Jim Sutler Jumbo Extension . , McKlnley Darragh , iiuRma copper 23 Mother Lode 28 Mines Co of America. i Nevada Hills 2 Nevada Wonder .... 70 Nlplsslntr 8i inio copper ':4 Ttay Hercules 2',, wan ior i Stewart Tonopah Kxtenslon . , . 2 Ti united verae ....... 22 West End Con I'i White Caps 14 Terlngton ........... 3 S4 23 15 6 V1 3 43?i 15 48 27 3V 4i 80 2 12 2)1 38 16 4 LOCAL MINING STOCKS TONOPAH STOCKS Did . . Jini Jlutler ..... MarXamara . . Midway ',,. Mlzpah ntrnilon .40 .28 .8.' ,0H .15 ,08 ,US 1. A,k .42 .31 .3.1 .07 .10 119 .011 l' il 40 14 2!i ii 27; 16 BONDS Bathtehem 7s (notes), 101 Cosden OH 6a ,,. (C 1011, 90 Montan North Btar rtRcue Euta Ve,t nnd . aOI.DFlElip STOCKH Atlanta 01 .03 ittuB nun 02 .1)3 llooth 12 .14 niamondfleld B II ...,, U2 03 Daliy 02 ,11s Kewanaa 04 ,n Oro 1 ?! .03 Rpearhead 11 .13 SIUr Pick 05 .03 MISCKI.UANEOL'S Arlaona United .28 .is Netads Wonder 70 7s Tecopa' Minlnff .. ..... 12 13 RAILROAD EARNINGS UI'.ANI) THUNK fiVSTHM . I01B Increai, Fourth week January ft, 428,09.1 tm.twa Krom Januar) 1..,. 6,264,602 1.530,817 CI IIC A OO, BURLINOTON AND QUINCY December sroaa ....112.039.318 12,250,0111 Halanca after taxti. 2.0Hg,:&3 2,213,298 Net oper. Incom,.. 1,781.823 2.54H,3t.1 Tnelra month,' sroMl44,172.769 21,880.0R Balance aftar taxea. 26,677,201 11,194.839 Nt optr. Income,, 23,01i),u 11,801,(41 nacreaac. $25,000,000 Southern Railway Company Three-Year 6 Secured Gold Notes i v Total Authorized Issue, $25,000,000 Dated March 1, 1919 Due March 1, 1922 Interest payable March 1 and September 1, in New York and Chicago. Redeemable in whole or in part at the option of the Company at 101 'and'accrued interest upon sixty (60) days' published notice. Coupon notes in denomi nation of $1,000, registrable as to principal only, and exchangeable for fully registered notes of $1,000, $5,000 and $10,000 denomination. CONTINENTAL AND COMMERCIAL TRUST AND' SAVINGS BANK, CHICAGO. TRUSTEE The folh'iving information is summarized from a letter of Fairfax Harrison, Esq., President of the Southern Railway Company: . Thete notes will be a direct obligation of the Southern Railway Company and are to be secured by deposit with the Continental and Commercial Trust and Savings Bank, Chicago, as Trustee, of $43,500,000, par value Southern Railway Company Development and General Mortgage 4 Bonds which are secured by a general mortgage upon practically the entire property of the Company. The proceeds of this note issue will be applied toward the retirement of the $25,000,000 Two Year 5 Gold Notes maturing March 2, 1919, and secured by the same collateral, which will be pledged for this issue. In the ten and one-half year period ended Dec. 31, 1917, the surplus earnings of the Southern Railway Company over all charges for interest and rentals aggregated $66,364, 517.91. During this period the company distributed $10,800,000 in cash dividends, the remaining $55,564,517.91 being devoted to the improvement of the property and lo strength ening the company's financial position. , Under Federal control during the calendar' year of 1918 the railway operating income as reported by.the United States Railroad Administration wak $29,291,869.72, the basic. -standard return to he company under the Federal control act is $18,728,536.63, subject to the company's pending claims for allowances in excess of this figure other corporate income for last year is estimated at $2,200,000 after providing for estimated fixed charges and war '' taxes for the year 1918, aggregating $15,200,200, the company also retired equipment trust obligations amounting to $3,296,000. For Syz years ended Dec. 31, 1917, the balance after payment of all interest charges and rentals averaged $7,851,480.62. For the year ended Dec. 31, 1917, the balance after payment of all interest charges and rentals amounted to $14,037,415. 1 , i Thee note, are offered if, when and a luued, strictly subject to prior sale and advance in price. Price-99 Vi arid interest, yielding slightly over 6V4, I , All ititcmcnti herein are official, or are butd on information which we retard at reliable, and, whllt we do not guarantee them, they arc the data upon which we have sctid In the purchne of thtaj lecUnty, Continental and Commercial Trust and Savings. Bank Halsey, Stuart & Co. IncorparauJ Suctaucr. to N. W. HALSEY fc CO, Chicago ' New York Chicago M ' . X 'i I ' HI 'I 31 I l r ' ' .1 ",! K J 51 ik t',i lialtlmora lI.loK.H S.7M.P81, 7,4ft.tU3 LsUMi Tafia A en Q6 ,..., 0 12 U. n ny f . j. i.'. J?w- rERAJ u. uvi kck ;.''' m4 to ,f.r-?rrT ,IIL'"I ' BB. " ' WKSfjEmSrSkSmmmU " , . ,-. .a , r i:WMmr ' r' . VMhNui iBBlHBOBHKJWSCSsfiJPS?!' ii, JMmwM&NBBmtLU
Significant historical Pennsylvania newspapers