'7T'
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is
EVEXING PUBLLO
) LEDGER PHILADELPHIA, T:
HURSDAY, FEBRUARY 20, 1919
SM
llTiree-Year 6
Secured Gold Notes
YteUwtf over 6XA
Issued by the Southern
Railway Company. These
notes, which were re
cently oflered to the pub
lic, were rujickly absorbed
and wercV'-;c-las.c'- y
most conservative invest
ors and institutions.
For information regard
ing the security, earn
ings of the Company and
other important f a c t s,
send for our descriptive
circular No. U-23.
Chandler i Company
Franklin Bank Building
Philadelphia
Ntir Tork Boston
Kr US
FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
INCREASED OUTSmE INTEREST " " ' New y0T NEW HIGH PRICES ARE PMiadciPiZ7r ACTIVE TRADING CHARACTERIZES
ON THE NEW YORK EXCHANGE
Bulls Continue to Hold Price Movements in Absolute
Control Market Established at Materially Higher
1
riees-
-Leaders Traded in on Large Scale
High Points in Today's Financial iS'eivs
The clay on the New York exchange is one of great activity, with
oil anil the tobacco shares attracting most interest. The Asphalts and
Lake Superior continue to dominate the local market, with the former
touching the highest price in their history. New high prices are made
in many issues on the Curb. Dullness is unrelieved in the foreign
exchange market. Cotton prices are higher. Bulls gain control of the
corn market and prices advance. Commerciul bar silver is one-eighth
pence higher in London.
90',
44U
l2-
18
02',
544
43
:
87".
108
J
Taxation-
All Branches
There are many or
ganizations, recently
sprung up, equipped
only for income tax
work.
Our service in
cludes taxation in all
its branches Fed
eral. State and Local.
Ours is the oldest
tax service in Phila
delphia, and is used
by leading law firms
and trust companies,
as well as by many
important corpora
tions. TAX AUDIT
COMPANY
311 Pennsylvania BIdg.
H.rriiburg Office,
209 Dauphin Building
New orli, Kelt. 2u. Hulls continued to held pike mocment In
absolute control In today's trading, and although there uis heavy t cadg
ing ut times, causing sharp reactions after achnnce", the general market
was established at materially higher prices at Hip end of the d.ij.
Theie was a pronounced Increase In outside Interest, with commission
house biding on th largest scale noted since last Not ember, and the onto
wuy In which the bears participated In the trailing was to make urgent
efforts to coter short", as their resources ttero steadlh exhausted.
Many stoiks were established at new high teeords during the day,
among them ltoal Dutch, which .sold at !9VS, Pan-American Petroleum,
which moved tip to SI3, and Kelly-Sptingfltltl Tire, which made u gain
of 5' points to SS.
Kojal Dutch in teaching Its high let el moved up mole than 6 points,
and Chandler Motors rose t points to 1 -6. International l'aper, which
was heavily traded in all thioligh the day, sold at 43'j, a new high for
i ecent times.
The market leaders were traded In on a large fccale and n good deal
of Importance was attached to the buying of l.'nltcd States Steel by
banking Interests on which that stock rose mom than I point to 04.
Other steel Industrials made gains of more than I to 2 points, and a
number of specialties moved up from 3 to u points during the first half
of the day, but lost their gains In reaction in the lat trading.
tiulllsh Interest was checked for a time In the last hour, when a
celling movement developed In the copper group based on epectatlons
mat the quarterly statement to be published tomorrow will be extremely
unfavorable.
The bond market was Irregular, with must inteiest attached to the
U.ing of fourth 4's by institutions
Other Issues were Irregular
BULLS GAIN CONTROL
IN THE CORN MARKET
BIG JUMP AT OPENING
OF COTTON EXCHANGE
Adams Kxpress 41)
Adv Iltimcly . . '.'I
do pref .. GO"
Max Hubher. . 73 '
Alaska Juneau '.'
AlllslChal .. .. 3B"i
do prM ... 87 'a
Am Agr Cheiii.lO".
Am JUt Kucer. lis.
Am Can 4BI. ir.
1 Am V. & T'dy Co 01", 00
j Am Cotton Oil. 44', 41
wii itukkisis. i-n i
Am Hide A: l.ea IS'a IS
do pref .... 93 , m
I Am lilt Corp . 0fii4 04
Am Ice Sec. . . 43 U 1.1
I do pref , . 63 .!
Am Unseed .. 48 48
do pref .... 88 87
I Am Locomotive 6' 04
Am .Malt .... i, l
do pref ... . I5ia 15
I Am Hineltlng.. (i, l!3
Am Smelting p 103i 103
m Sum Toll, ins u 107
.vm S eel Kin 77 . 7(1 77
Am Tel & Tel. 1043, jos'i 101
Am Tobacco ,1s7, 107 'a 107
Am Wool . .53', 53 S3
Am Writ I' pi- 35 S3"; 34
Am Zinc fc I,. 11 1 111, 11
Anaconda , 50 " 38",, 58
Associated lug SO" SO'i 20
Atchison ... in'', 92 S2
Atlnn Coast r. 0234 iij". 03
Atlan (1 & V 1 OS 07' j 07
Ualdtvlu I,ocu 77' 76', 76
H & 0 47$, 47 47
Beth Steel 11. . liL'S, 62 GL'
do 8 pe nf. . lilt, 104 " 104
Hkn ttH) Trail 3fi4 25', 26
Hooth Fisheries 10'- 19", 10
Hums Bros .H" 146"; 146
Ilutte Cop A .. 5', 5, 5
Butte & Si cp. 17 17, 17
Cal Petrol . . 27', :, 27
do pref . . 73 'i 72 'n 71
Cal 1'aclilng . "J'.. 52?, 52
Can I'aellic . 161 IfiO'j 161
Ceil Lentil .. 63 61 'i 62
Cerra dc P.isco 32 32 32
Chandler Mot .126 121', 126
Che.s & Ohio. . 37', 56', 6S
Chi Ot West . R'n 8 8
do pref . . . ', 2fi'a 26
Chi M & Si p 36 '- 35? S5
do pref ... 70 70 70
I'niS I'ac t c 21 ', 24 24
Chile Copper . 17r, 1 7 ai 'i
Chlno Con Cop 33 '3 32 , 3d
Col Fuel & Iron 38 37 s 38
Col Gat & l'lce. 13', 424 43
Consol Gas . . 04 91 01
Corn Products. 10'j
nl'Hflll.,0 Tiilo ..
Crucible Steel. 50 'j
Cuba Can Sug 23'
Cuba Cane s pr 74', 71' 71'
Dome Mines . . 13' 13 13
Distillers Sic. BID. 55, :',
Krle 16S, 16', 16',
do 1st pref . . 27'a -'H 27,
Gaston William 23 27 20
(Jen Clgnr Co. . Bl'a 53'j it's
Ceil Klec Co... 1533 153J. 1533.
I Gen Motors 143 140 140'j
1 do pref .. .. 854 85'. SS?
(Goodrich 15 K. . 62'3 62 62'
tint H Cp (ntf). 116'.! u4a, uaa
( u
MADE IN CURB ISSUES
Royal Dutch and General As
phalt in Active Demand.
Keystone Tire Advances
U New Tork, Feb. 20. There was ac
t 1 tlvo trading on the Broad street curb
rf , with new hleh prICcs made in several
fl Issues. Nearly all the speculative ln
ia tercst was attnehed to the trading In
, I rtojial Dutch and General Asphalt with
bu lug of both those stocks coining from
Philadelphia, and local banking Institu
tions. Itojal Dutch, In which morp than
5000 slimes changed hands during the
foienoon, started at 85 '.i nrul Hdvanced
to 00. and General Asphalt ranged from
70', to 72 'a, both stocks making new
high records.
Other oil stocks were fairly active,
but gains were moderate when com
pared with those made by the two lead
ers, international Petroleum sold at
U 1 22' to 224. Sinclair Gulf at
:3.i to
- ?
26 and Cosilpn at 7'i to 7si.
I flitted Motors continued to reded ab
sorption by the General Motors Com-
1 pany and sold at 41'i and 41i. Key
stone Tire was traded in at 60'.J to
61'..
Stvlft International was one of the
strongest features, adtar.clug from 47
to 48 'j. Ubby, McN'eil k Ubby sold
at 23 to 23 '.j.
' Submarine Boat, m which there has
been quiet accumulation, after opening
at 12 advanced to II',. Wright-Martin
j was Arm, selling at 3e, and 3, and
Aetna Kxplnsives sold at 7" and 7'i.
General Asphalt, preferred, sold at
105 !a to 108.
-l'.j
Aetna Explosives
Am Brit Jlfg . . .
1 Am Marconi ....
Am Writing Paper
Air Reduction .
1 Canadian. Car Co.
IVIIUSTKIALH
Mill
5U .
25
.lji, 1 Con Car & Fdy pfd. 70
.e ort 7ew
58, CR.-4 .
-1'
l' I
tiiaruutit iron bu,
Cheviolet Motors . 168
Cramp 75
Cuitlss Aeroplane ... 11
carwen 'loot a
Carbon Steel 00
Dmerson Phonograph. 2'i
Lake Torp Boat ... '
Lehigh Coal Sales ... 82
Limit Loco .... .28
Maxim Munitions .... i
N Y Shipbuilding ... 34
Xor Amer Pap Pulp.. 3i
Otis Elevator 63
Peerless Motor ... 19
Poole Dnglnrering. . .. 20
Scripps-Booth 15
Htunmird Jiotors
iiraiifl!iMH!:iii:iii!;iiiiiii!iiiiiiii!i!:;iiii!iriiii!:i:!!!iii.iiiiii;iiiiiTiarji!j
Investment I
Suggestions
i We have just prepared a cir- 6
cuiar listing 'J.i attractive bona g
'offerings, including: J
37 Municipals S
14 Railroads
19 Public Utilities
5 Industrials 3
8 Foreign g
10 Short Term g
j The rate, maturity, price and m
yield 01 these bonds are in- g
dlcated as well as their tax-
exempt features. Many of the J
bonds are legal investments for H
'Savings Banks and Trust J
Funds. m
Deiiiand Active and More Strength in Cables and Liver
Than Sufficient to Take Care pool Buying Force Prices
of-Offers on Drops
Up 65 to 90 Points
Ini Mer Mar
I do pref ....
, Intl l'aper . .
do pref sla
Ini Nickel . . .
Kan City So.
uen .Mot ucu
r.lt.MV IIKI.T MKATIIKU UlKKTWr
ChUuco. 1I. 20 UHiiol II11I11 tir
nnv north, mln koutli lontjht .tin! liroli
iihtv Kr)i1.i.
VHHurl t'nsetllnl with ruin or notv
tonleht nml In eat rrldiij . roluVr.
VV lronlii snow lonlnht anil In ast
anil south I'rlil.i). nut ninrli rh.ine In If m-
lllnnesotn I'nrttle,l lonkht nml I rl
iluy with nn mt anil Miulh lonlht nnu
In soiithnit lljr. eoldrr.
Inu 1 I nsrtllnl nlth no toiilxhl nnd
North ll.ikiitil 1 ulr lonllht mill 1 rlilat I
n,,Smr.tl,,"l5knU-Ktt!r tunUht and rrl.lar.
0!".'r,..Ui ln-tttr.1 tont.ht ami rrl
il.it nlth Miott etrrnir e.mtl rolder lu-
"''.Vions l-nsrlllrd toninht with now
Vlontiimt nn'l Hjoiiilns lair tonlcnt
nml 1'rlclii).
t'hirngo, Keb. 20. Unsettled weather.
with nredlctions of rain; reports 01 111
(OTTON 1I1XT VVUVTIIKK C'UMIITIDNS
Nftv York. l'rh. 20. The fnlloulnc tem
lieriilurrs wrre rrrordnl In the totton llt
IhK ninrninffi
Wlllnlnclon 3ii Knott lllr. ,1fl Okln
honm f'ltr, Kort hndth nml AtUutii, 42t
nurli-Klon. AllKllktn. Nnnhtlllr, Mont
cumorr. VlpmiihU nml Utile Kork, 4lt
sntnnnuh. 4(li TI10111 itlllc. (K, shmrisirt
nml sun .Vnlonlo. .vo, Vlrk.lmrc unit Cor
liiis IhrUll. .14t (inltrHlnn. AKi 4nrkmin
vllh; nnd rn Orlrnns. 6J Tnimm. HI.
rr tins .01 Inrh nf nrrvlnltatlnn ut
Alillrne, .114 nl ('ormis ChrUtl. .Ill nl
Thniiiuntllle unci Monlmtnrrj-. ,-H n Sun
Anloiilu. .14 nl No.,' Orlrnnn. .:il n Irks
"."" ."".'! 'T1. ,""h. "t (iHltrMnn.
.48 at Vtrmiillls ,r3 nt Oklnhnmii tltt,
.74 ut l.lttle Knrk nml 1.00 nt Shrrvepiirt.
24'-
102,
45 V
60
26i,
17.,
86
Steel Allots
Submnrlnc ... .
. St Joseph Lead
8
5
13'i
10'i
Yfat. rlnsi
ASK
VA
Hi
3
55
35
80
it!'-
85
12
6
05
2i
2',i
36
32
37 ''
4
65
20
40
30
0
8
14
11
105
T.OW
65
7!a
110
S8i
16 1
71
105
28
s!l'
70
G5'i
Ntt
Cloie cage.
Hi '.4
76 !i J4
110 3j
UB-i
High
23 Am It pf. tio'4
400 Bald Loo 76
100 Cam Htl.110
BOOMlec Htor 60ii
lOOHrle .,., 16
3158 Gen Asph 73U
1002 do prcf.108
35 InsC.N'A 28 'i
C240Lk .up a SI',
84Ih Nuv. 70
utii.envai.. 55' DO'i 66ii t- ;
7Mlnehlll.. 61'i 6li 51.j -r- Vi
422PennaIlll 44Ti 44, 44Ti .U
10U H
71 i
06 14
106
28'i
20 ,
70
55'i
.1.1 In
31'i
25 J,
234
0U
81 4
3 (a
38
71J4
Hl4
70 i
SG'i
60 4
38 i.
100 1'hlla Co. 34
3 docum pr 35
200 Phlla i:icc 25 3
1050 P llTto 267,
60 Ph Tract. 60 '
60 Reading.. 81'
100 Ton Bel.. 3a
191 Un Tract 38 a
163 V G 1... 72
128U S Steel 04
25 W Cramp 76
1I0MS
HUH Ixitv
J1000 Am(lns&
Klec 5s. 8C'
3000 i:i & Poo
Tr 4s.. 70 70
SOOOKqult 111
Gas Cs. 10114 lOl'j 101b
3000 Lake Sup
lnc 6s.. 63 63 63
2000 Leh Val
Coal 58.100 100 100
2000 do 6s..l01 101'i 101"
3C00 Lib Bonds
4th 4 Us 04.28
50 do 2d 4s 02.60
8000 Pa Co tern
cts iY3B 06
1000 PhCocon
1st 5s
stpd,...100'i
2000 Phlla '-lee
1st 5s.. 933
2000 Phlla B&
Vv 4g.. 95'j
12000 Vn lltty
Inv 6s, 66
34, Tt
36 1
25?, ,4- H
03 .1
76 i 1U
Net
Cloi ensc.
86 u ";
70 U
93.90 94.28
92.60 92.60
96 96
100'i 100U
93i 93
95 '..j 95 '.i
60 'I CG',
.20
PHILA. INACTIVE STOCKS
l'ollOwlnGr urn nuntntlnna fnr inactive
(s.j.10) I stocks listed In the Philadelphia Stock
. : wt"iBo uiiu in- which inero cm ..
'transactions today. The price given is
l1. si the last previous sale:
Amer Stores. 28 Little SChuyl. 4S
Alliance Ins . 20 Mlnehlll '
Am Milling . 1014 Norrlstown .. 17
A G 'war ... 7iA North Penna. 94
Buff & Sus pf 50 North Cen .. 73',i
i-amuna Iron. 74
Cen Pas Itys.109
Con Trac N J 61?
Corn lix N 11.345
K Pcnn n Jt. bu
Klre Asso ,.285
Frth St Nt B.310
Hunt & II T. 10
iiuni& u T pf 19
1.
I
Ji4
Great Nor pref 93
do Ore subs. 40
Haskell & Bar 42;
Int Agrl pr. . . , 58 ?
Insulr Cop.... 44',
Inter-Cons Cor 6
iln ltref 5G
Kelly Sprlngfd. 98
Kennccott Cop. 20
Lack Steel ... C6,
, Lehigh Valley. 55 li
Lee Hub & Tire 25 t
' Llg& M TCpf.109
I Loo-e-W Bis C. 42
Mackay Co pr G4 i
I Max Motor .. 31 -I
I Max Mot 1st pr 57
1 Max Mot 2d pr 24
May Pep Stores 63
'Mex Petrol ISO";
j Miami Con Cpr 22 i
.viuivaio steel i'k
.2'i
IM'fe h '
'Vr,-" .'r?, St Joseph Lead ...... 10'i
iS i" S ' Todd Shipbuilding... 102
":, T-,. iriangie l'lim 'i a, ..
-t.ij ', United Profit Sharing W, H, ..
' " .- C S Steamship 3k; 3i 3
J: T - United Motors 41i 41', ll'i
,J, r World Klhn '4 . . 'J
39J, - U Wrlght.Martln Air .. 3 3 3i
ri, I M'.t.N Altll Oil.
Illinois
Ohio
Prairie Pipe
is ti in 72
S O N J 688
S O N Y 332
....153
323
263
168
327
270
273
633
33C
330
INDKrEMin.VT All. STOCKS
New York, Keb 20 The feature of
the cotton market this morning was the Minn & St Lo n lOTi
strength of the Liverpool cables, ac- '
companied by active Liverpool buying,
causing .1 Jump of 65 to 30 points In '
21?
53
Send for o complimentary copy
of this circular, No. LSI.
A. B. Leach & Co., Inc.
115 South Fourth Street
ffiiniHimniiiiFiiiiiiiiiiiiiiniaiiiiiiiiiiigp
...... i . .., .
creased feeding demands for tne gram ,". pns.
In the Southwest; a continued light' The market was also influenced by
. 1 . .UnlAtarl lif'ai'l Yam l 1 r 1 . ..
movement from me coumrj , ui' -" "wm uujmjj, dui at tne
BOND SALESMAN
W dMlrr to nbtutrt the art-Tire
nt m trained 1emnn for rhlladcl
phlft. Munt be hlub rrade man und
rood distributor.
'.HARPER & TURNER
, INVESTMENT BANKERS
'1000-1012 Stock Exchange Build. nr
(' Philadelphia
L-
I LIBERTY BONDS
BOUGHT and SOLD
r A117 Denominations
Samuel K. Phillips & Co.
y- 807 CHESTNUT ST.
Hasira Philadelphia Stock Exrbaat
I
m stocks and expectations of freer ocean
3 1 tonnage brought about a strong tone In
1 ' tho corn market today, w 1th a good deal
of excitement at the outset.
! Sentiment was bullish and. notwith
standing the fact that there was con
siderable profit-takinH on the bulges; the
demand was active Mid more than suf
ficient to take care of the offerings on
all drops. For Instance, one house told
500.000 bushels nnd It was digested
readily.
Oats were strong In sympathy with
corn and on nddltloimr talk of an In
quiry for eport at tho seaboard from
neutral countries.
The volume of business was not largo
and It was local In character. Pit shorts
were the principal buyers. There were
no foreign bids here and there was no
domestic demand.
Receipts remained light.
I.radicK futuri" ranired as follows
,'nrn lf.u ,if.li .rvl
Open. HlHh Low Clni cloe
May . . 1 21V l.-Jl. 1.21'i 1.24'i 1.2ii'
July 1.1H. l.iti', 1 17', 1.1. 1.10.
1 Oats
Mm r.t)'. W. rai m'. r
i..iv. r.M ' r.n
Bpruea 158 rue. 392
Jnreitnicnt Booklet
"The' Motor Car Indutrry"
S PAINE, WEBBER & CO.
t,1 LAND TITLE nr.DO.. TIIILA
.
OH
1 .!, nl
m .2- r.n
Jul . .23 BO
Ilibs ,,
May . 22.4S
July . . 21.43
Pork
May -MOO
11, lv .37.1111
nid. TAked.
Test.
&7. 5SVl t37'4
peak of the advance met Wall street
nnd local realizing, which produced
moderate setbacks, although, after the
call, the market was still active, but
Missouri Pac,
do pref .
Mont Power. .
Na Con & Table 13',j
National Ills. 115
Na Knal & Sipd 30'j
National Lead C73,
Nn It H ofMfcx
2d pr . . 0',
Nevada Con C. 16 3,
New O Tex & Jt 31 '3
N T Air Drake. ini
N y Centrnl . . 74
N y C & St I. 28
N Y N H & II 27 Ti
I6V3
1133,
50 V,
07
4. i? Harnett Oil & Gas.
tj ' Cosdcn Oil
4-Hi fnsden & Co
-r u Klk Basin
1 I Federal Oil
4. "i Inter Petrol
J 1" 'Houston Oil
Merrltt Oil
Midwest Ilellning ...
Met I'etrol
Ohio Fuel
Oklahoma Itcf
Sapulpa Ilef
Sequoyah
Sinclair
Island
Ulcnrock
11
7'i
. 6
, 3
. 22 U
85'5
. 21 i
,153
3U
16
. 7U
'j
25
8
3.?.
.MINING STOCKS
3i
'i
6U
3H
22
86 Vi
2414
160
3'i
18
'
26
8i
7',i
'';
3'i
80
24 'i
157
3,',
7?i
Key Tei .... 11
Key Tel pf . . CO
Leh Val Tran 20
Leh V T pfd. 25
Lit Bros .... 40
lnn Vat BIC
war 277
Penna Traf . 2
nhlln 151 tv VV
Phlla& West. 6
P II T 25
Iltvvs Gen .. 3
Uu Cos N I.l6
Upltyslnpf. 14
Un Pass nys.160
Welsbach ... 41J4
W Jer&b .... 44 U
York ritvy .. li
York ny pr.. 31 V4
New York Bonds
mail
32000 Alas C. Cs Sr A 22
Iotv
32 ai
fln.n
32i
5000 Am A deb 5s. 102 U 102 U 102 hi
Okla P & P.. . .
Ohio Gas ....
do rts
Ohio Fl Sup. .
Pacific Mall . .
Pan-Am Pet . .
do pref
IVnna It It
nervous, at a net ndvance of nbout 65 ' ,' rtn, Pac
Points with spot houses fair buyer-.
The Initial ndtance to 22.40c for May,
or 97 points from last night's close and
135 points from the low level of yester
day, met a good deal ot realizing.
nn,r? "aH "Iw liquidation by old longs lVo Gas A: C
7e Vc."re reactions of seme 30 to , ''"na to . . si'i
45 polnta from the best. Liverpool con- I'v" & w,st s61
tlnued to buy, however do nr,,f 80
"e!ni!H,Wre we" ""-orbed on the i:!""-Ol!'0,' ' i
n,, r.i . I reed Steel f 68 U
one or the private cables attributed Pullman Pal 0.113',
the advance to trade buying and said Ry ! l'rg. 71,
tne market looked much higher. I Hay Con Cop.. 20'i
The receipts at the ports for the day liead.ln?r V 1 'Si
aie estlmatitl at 12,000 bales, compared nc!' Ir SS,ecl-,n?
VWU, 13,436 bales a vveek agoS luS-fn'mch il'SJu
baits a y car ago, and 10.738 bales tun Knvon mmAV; inaJ
ytars ago. . st i,..San Frjn. 127.
Atlanta .
Dig Ledge
r,i ai Butto New York..
IBs' u,Con Ariz
3414 1(4 C F S & Jerome...
1 nou u first National
.i',,' -,7 Goldficld Merger...
xi J .Goldfleld Cnns
7,-3, 1 I Goldfleld Florence.
Ji ' 'Ooldlleld kewnnas... 4
B3 " .Green Monster ?i
Ilecla Mining 4'i
1
"i
1?.
5
20
12
.Howe Sound. .
I Independence Lead.
Jerome Verde
3?i
iU
"4
41 Vj 'i
17Sj '
47 4-1?
21.85
23.U0
22.53
-1.50
40. fl.
38.50
21 50
-'3.77
22.45
21 40
40 110
?7.0U
24. S3 21.35
23 110 '21.30
22 0
21. HO
, Vent. Toilaj's 10:30 11:30 1:30 2 flu
M-rrh .s-S-io ". ATa !? .!'
.21 43 22.25 I.llt il',18 '2,ai Ji S',
.'.. iA "-', '"' -'1.30 21.31 21 t" .l'.-,.-l!i
ftn ,, nn .,. tu ... .. .... ..r r1 ''
January Iimm. T.S5 iaiA, JrH 1 iU:J5
9H
12
.VlllV
Julv . .
H lobcr
do nrcf 24 V,
Seaboard Air L 7's
S'-nrs-Koehuck. 173
Shattuck Ariz.. 10i
S!os-S S & Ir 504
Sinclair OIL... 37'4 35A 36W -
Southern Pac, .102 101 102
H
T.2 Jim Butler
Trl" I Jumbo Intension ...
1 McKlnley Da reach .
j Magma Copper . . . .
1 Mother Ide
, J" I Nevada Hilts
? 'Nevada Wonder ...
Niplwlng ,
Ohio Copper
Hay Hercules
S.tn Toy
Tonopali Intension
I nlted Verde
1 Wtst i:nd Con
White Caps
-r - 1 eringiou
", BONUS
Ti,, 'Bethlehem 7s (notes). 101
1 i" cosuen oil 68 . . . .
" ' Cosden & Co 6s....
V, Cudahy 7s
21" s Russian Govt 5 'is
. i? 1 llussian Govt 0H.
12 rtouiiiern it.ty o.
ai ,
37
12
45
26
28
3
70
8i
J
30'"
4
4U
H
6
1,',
4?;
4
3
i
40
14
48
28
30
' l
30
0
s
3H?i
iiu
20
15
' 6
"if.
14
101 Vi
03
a Sinclair Oil
Vs
SO
. 00
.101 U 102
. 6S 60
. 05 ',a 67
. 00 00',
85
1',;
11 '.&
C7
ft
40 05
3S.50
30.65
37 30
I Southern It U.
do pref. . .
Studehaker. . .
Stutz Motors.,
27i
68
56 U
44
Financial Briefs
FINANCIAL
PUIdend,
P OFKIPK OF
' THE C. II. OEIST COMPANY
Ijind Tit la Dlitc.
' rhlladelplila, Pa Feb. II), 1019.
The directors nf Wllminirtnn rio- ,-..
pany bav Ihii day declared a regular aeml-
The New York Air Brake Company
has Issued Its annual report for the year
ended December 31, showing net proilts ,
alter charges
to S20.5
000,000 caplt
net yruitin ui .,o,o-w, v io.?i u. . flctoher
share earned In 101,. Downs bid
Collon Bujers am Sellers
tru Vi, -.rl'' Fen- 20- March Cone.
Bussell bid j Peers. Bartlett. McFadden ' S?" Steel.... 3CV,
Wachsman and Fllnn offered, '" , Stromberg Car 40
.viay oeer. Sellar. Cone, Mcnany liexnf' lac",Xi.;
Young. Carpenter. Wade and Mltchel Texas Co 104',
bid: Watkltis. Schlll, Orvl". nirdan ri1 A-n,n "S
Held. Wenman. Allen. Geran. Nettmnn Tobacco Prods. 004
fllnn and CI. Gumoens nffnrl I do pref. lOS
51U
42H
34
30
3S
102
18
83&i
u
1
'i
Julv "vleff.r. nmm. Til.-.!., .-,.,... I'nion Pa .130V.
or -2.052.5a3. equivalent Wnchsman iitl. , ''-"i- United Alloy S 40'i
snare earneu on tne io.. ,len Wm 1 ,i..' V vr" !" , l'n.i riirnr taig4ii
5J ..U; M.C0?J.'??.Y1 ' ToksWalklnslrnd,n6rv:s0nofr;VeFure,1 ll" pWt 'pr MH
Mnnamaiin T.'l.ef- .ll n ItV lnV'eSt 11
1 : Itnaaell n-fr-.l
: i
Todd Shiptulldlng 6S.104 103
BANK OF ENGLAND STATEMENT
London, Feb. 20. The weekly state
ment of thu Bank of Kngland follows:
Total reserve. f30,652.O0O. Increase
416,000: circulation, 60,567.000. .de
crease, 265,000; bullion, (81 760,000. In
crease. 150,000; other securities, 84,
147,000. Increase 850,000; other de
posits, 118,333,000. decrease 11,172.000;
public deposits', 30 680,000 Increase,
2,522.000; government securities, 62,
231,000, decrease 145.000. The propor
tion of the bank's reserve to liabilities Is
I notv 20.60 per cent, agakist 20.10 per
cent last wcfit. " tHnnpares witn a ae
Money Is not In free sunnly In Pitts
burgh banks, and It' Is reported that i
sUDscnptioni to me uniica mates ireas-'
annual dividend of three per rent (is per ury certificates are not up to expecta
tion) on the preferred stock of the com. tions
pajr outatandlnc payabla Marrh 1, 1910, to i '
hnldara of laid atock of record at the cloaa - . ... , . j . .
ef.bmlneae February 10. 10l. nooks will In vlew ot tlle widespread onslaught
baleloaed from February 21. 1019. at 3 against Investors made by numerous
o'clock, p m.. to March 1. loin, at 10 o'clock concern? which have no affiliation with
a. ,m. Checks will ba mailed. the Stock Exchange and many of which
. I v. ... ,, oMt, , nre not unown to me community, and
. "ntri u r j .
Liverpool Cotton
I.lterpnnl, Feb. 20 Spot cotton
iiulet today, with prices easy on
oasis or a decline of 11 points for mi,i. IT S steel
H11..- .,J . . - . . - . . ' -- -- - - ...-
"""" "'" t-ontract, at n.wia. The sales oo pret liiti
w3000 ba,ea- Tll receipts were '''tun CoppAr. ,. 8
16,000 bales. Including 14,900 bales! vv Car Chem 64
American. I-'utures were steadv In ilm Vulcan Det pf 45
early dealings. Spot prices' were" Wabash 8',i
Un U Invest pr 23 U
L a C I I I- O IK
V S Itealtv... 25
l' S rtubber . . 78 i
do 1st pref. .110V,
was L' H Sro Ai Hef 46ti
thai do nref 46T4
sij
llOVi HO',4
4 5 , 4 li
464 40
03U 03;
114 114V,
68 "i 66
Nib, . 11
5-f? A. i' cllno Trom 1.'J Per cent to IS. 02 per
Iii -lis cnt In this week last year. The clear-
r. ill Ings through tho London bankB for the
"f T i week were 453,140,000, ngalnst 463..
.7 i yiw.uuu ino vtmv aim au,Dtu,uvu in
?'tl.!u u-ofk Inst Vf-HT
-.?""" -
i
.to
saricr. of nivinF.Nie ajax nrmiK
CMtFANY. Inc.. SSO W.t Slth Ninet.
t ,r-
r 1t Dlreclor have tlil dv dclar-1
l.AO) per share, payable Murrh 15
nmrncan. niinriiinD fi.ii- mi an a i fin nrer a.. .1-
because pt tne luivantages Deing tauen , middling, 1812d; middling. 17 tin. T. ' Well" Fargo Kx 62',j
"!!. .-.-!?!-JKHSW-J,11.8??,"1-1 middling. 16.44d:" good ordinary, li.a?, M- Maryl'd, Jfl
governora vi mo . muwuiuia ,-,i.utiv i.a. anu ordinary. 14.30d west rac prei. us
rhiince at Its meeting lato yesterday . tv.ai t'ninn Tel 88
fj ' k.w Yo"ru. Lviiruarv 11 ,nf'. i afternoon authorized a special committee
SUmi
1
to make a campaign to protect Investors. Nvy yoRK COFFEE MARKET
Wstlnghpe M.. 43-,
Wlieel or I. li.. ' tj
rttiuin iia-k "0 (.ilia u-tv n'riaran u
rl dividend ot One Dollar and llftr
fll.AOl tier ahara. navahla tli.h ir
?"5J5.K .i'c.nrJ, " c"" ot 1-41.000 from the banks vesterday. mall
btuarT Veusteh. Tre..r.,. i lng a cash net gain since l'rlday of
The New York Subtreasury gained
-5,621.000.
AVhlte Jlotors.. 52 hi 52
Wll'yn Dverld. 26 ., 25 V,
do pref ... , 911. 91 Vi
.1
rirttt ua inn iiijahii nr nr. i . . -., !-.. i. .,.-- A.,
of Lit Brothers' Corporation wa. - -" "'.'""'i'ft ."? " .i- ,.,,..Zl...
January IT. 18IB. wHtn a aemtin. ' Ior meiiiueraiui, hi iu ','," "p "
KldanJ of An nnd an extra dividend Stock l'xchange: Edward M. Hamlin.
i vraa aeciaren 10 an atcirKnoinera of , of Boston, wno purcnasea seat oi -aui
Jury rTt l"19- ...l'.'hla on ! M. Woll : Edward T. Mover to w horn will
.a im.ii . vto. .. i.rRDR An 1,7 tt n t i.awa
rjr 30. 1910. Checks will be mailed. , be transferred his father's membership,
- ' and FrederiCK A
Department has Issued July .. JJ.ss
Annnal Slaetlnaa
Offlca of
SNBBICIHT TO-irANV
and Frederick A. Henry.
The Treasury
New York. Feb, 20. There was much
more activity at the opening ot the
corree market this morning, and first Wilson Co
prices showed advances of from 20 to 25 , do pref 98 98
points. Worth P & M. 54 63
I.ocal offerings were readily absorbed do pref B... 66'a 66
by buying believed to be for European I
account, nnd the market shotted a very I ,v. .n,i,i.a atudebaver
.,t'"llfi;nSna,tl?.r anL'nIDeC',mber ment'oVe". " 1 V, .8t"df """" '
at 13.62c on the opening advance, or
back to within 8 points of laat i.-h.i-,,.-,, '
high level. . !
Teiterdai's Toda
cioea
.May 14.SO
GERMAN BANK STATEMENT
Berlin, t! London, Feb. 20. The
statement or tne imperiil Bank of Ger
many for the week ending February 7
shown the followinir chnnKi-s! Totnl coin
and bullion decreased 1,527,000 marks;
gold decreased 1,665.000; treasury notes
Increased 28.805.000 ; notes of other
banks increased i.jitj.noo; lillls dlx
tounted decreased 1,068.178,000 ; ad
vances decrrns"d 1,230,000; Investments
decreaseti doo.uuu
nrnwil 2.06 000
lnrreased 18.031,000
1.132.942.000; other liabilities Increased
75.517,000; total gold holdings 2,252,
150,000 marks.
07 Vj
'JiMi
80V
01 Ti
102 ',3
91
87,
82 ti
82 tj
81 '3
83 la
101t
07
97"
96
78"i'
86
01 'i
35
78
00 "i
47 U
40
601
105 ft
08
43
09
70 H
07, ",
004
80 ,
01 Ta
102
01
37000 Amrlo-Frclt 6s 07,
40000 Am For Sec 5s 99
12000 Amer Smelt 6s 891i
3000 Am T & T 5s 01 "i
10O00 do 6s 103
3000 Am Writ I' 6s Ol'i
2000Arm'r Co 4s 87?,
8000 Atchison 4s .. 82 Vb
3000 B & O 3Us... 02'.,
1000 do 5s 77
6000 do 4s 77 'i
8000 Beth Stl 5s '36 81 Vi
1000 Brk Ilpd Trn 7s 86
3000 Bordeaux 6s . .10li
6000 Can Govt 1026 07
5000 do 1931 .... 97
1000 Cen Leath 5s. 96
6000 Chs & O cv 4 Vis 78 Vs
4000 do cv 5s,... 86
6000 Chi Ot W 4s. 61 Ti
20000 Chi B & Q 4s. 054
21000 Chi Mil & St P
2000 do cv I Vis... 78
7000 Col & Sou 4 Vis 78
131000 Cy of Paris 6c.l00;
3000 Erie cv 4a Ser
B 47 V2
10000 do Ser Ti... 49 M,
4000 do 4a 66',
12000 Fch Hep 54s.l05t,
8000 Gen Elec 5s.. 98
02000 Inter Met 4Vi 43;
56000 Inter M M 6s 09 Vi
16000 Inter Agr 5s 80
110 Leh V rets 6s.l01"l 101 101",
4000 Llg & M T 78.113 112H 113 I
1482000 Lib Bd 3Vis. 38.18 08.24 08.36
253000 do cv 4s ... 03.00 92.76 92.90
48000 do 1st 4S ... 02.96 92.82 92.96
1892000 do 4Vs . .. 05.98 95.60 95.74
64UOU HO 1st U.S.. 'JD.IZ 9D.UU UU.l
818000 do 2d 4 Vis. . 94.38
3943000 do 4th 4 '.is. 94.30
82 Vi
82 V4
77
77 'i
81 Vi
85 H
101i
97
97 Ti
06
78 i
86
61Vj
054
78
78
9'.';
411
40
66'..
105ft
08
43 "i
39
80
SESSION ON THE LOCAL 'CHANGE
General Asphalt and. Lake Superior Lead, With the
Former Selling at Highest Price's in Their History.
Bonds Are in Demand
i
Active trading characterized today's session on the Philadelphia Stock
fc.xcb.ange. Tho opening was strong, and In tho first twenty minutes more
shares had changed hands than have been sold In a whole day's trading
luring the early part of the month. The Asphalts were sold nt tho highest
prices In their hUtory and were frely taken on the advance.
In recent trading General Asphalt common has advanced relatively faster
than the preferred. This has brought an exerclso of the conversion privl
lege. As the preferred pays a dividend of C per cent, with little prospect of
a dividend on the common this year, the conversion Is being made on the
possibility of the common selling higher In view of the privilege than does
the preferred. .,
Duylng of Lake Superior was described as "good," and It led In the mat
ter of sales, there being a turnover of something more than 4000 shares. It
failed to make as sen&ational an advance as did the Asphalt shares. A report
was circulated during the day of a prospective retirement of S3,800.000 pur
chase money bonds of the Algoma Steel Corporation, owned by the Lake Su
perlor Corporation, and a like action as to ?5,294,00O first mortgage bonds ot
the latter corporation.
Outside the operations In Asphalt and Lake Superior, there was little of
Interest in the market, although good strength was displayed throughout the
list. A feature of the morning was a sale of a block of 1200 shares'V Phlla
dclphla Rapid Transit at 25'4, up iB.
Bonds also tvere active, without any specially Interesting feature. Lib
erty Issues held about steady. A sale of $10,000 United Railways Investment
5s were tip . at 66.
a a
The first exchange of General Asphalt preferred Into common stock, under
the conversion privilege, has been exercised, the holder receiving $96,460 per
value common. In this connection the stock exchange gives tho following
notice:
The stock list committee has admitted to tho regular list of the Philadel
phia Stock Exchange 190.450 additional common stock of the General Asphalt
Company, Issued In exchange for $64,300 preferred stock of tho company,
surrendered and canceled in accordance with agreement dated May 19, 1908,
providing for oxchango of the company for common stock on tho basis of
$150 of common stock for each $100 of preferred stock surrendered.
This Is part of a total of $19,710,000 of common stock applied for In the
application of the General Asphalt Company dated February 18, 1919, to be
listed upon official notice of tho Issuance in exchange for $13,140,000 paid
stock outstanding.
Thla makes tho total amount of common stock listed at this date $3,358,450
and reduces the amount of preferred stock listed at this date to $13,075,700.
DIVIDENDS DECLARED
Tobacco Products Corporatlrn, quarterly
'.Hi rer ent en rriferreil, payable April
1 to atock ot iccord March 14.
United Htatea Ujpsum Company, auar
''rly of 1 nr cent on preferred, pajable
March 31 to iftock of record March 13.
VS.?,V ork Air Jlrnke Company, quarterly
-3 per cent, payuoie .Marcn -1 lo sloe
4
ny. a dlttd-nd of
. on.,, un ,'inriiru, UJUUIH ..IHn.1) 1.
reuiatrred Kehruarv 'jl iiaau. .!
l'ebruary 21. open March 1.
Cambria Steel Company, dividends for tha
quarter of 14 per cent r;uur and 1V4 pr
cent extra, payutilo March 13 to atuck of
record Ktbruari 2H
National Lead Company, quarterly of l'i
per cent on common, payable Murt.li 81 to
stock of record March 14,
Matkuy Companies, quarterly of l'a per
cent on common nnd quarterly of 1 per
cent on pr ferred. payuble April 1 to stock
ot record March M.
of
of record Marr,
13
VV'llmlnsto', Oaa Company,
dure on .ireierrea.
Farms' Loans in January
WnahlnEtnn, K-b. 20. During the
month of Jnnuary, $11,310,920 were
i',d to 'xao farmers of the L'nlted
States by the Federal Land banks on
long-time flrtt mortgog's, accoidlng to
the monthly statement of tlio farm
loan board. The Federal Land Bank
of Houston lends in amount of loans
closed, $2,220,770. with the Federal Land
Bank of t.1. Paul running sllgutly be
hind In amount, $1,586,500,
LOCAL MINING STOCKS
TO.SOPAH STOCKS
Bid
.lim llutler
MacXumara ....
Midway
Jll'Pah Ettemioit
Montana , .
Nortli Star . . .
Iteacue Eula . . ,
West End
Atlanta.
lllus Bull . .
Booth
Dlumf II n
Crockerjack
Unlay
Kcwanai . . .
Oro
Spearhead . ,
Sliver Pick
.All
.23
.2H
.00
.17
.07
.OS
ir
OOLDI'IELD STOCKS
04
02
.15
.02
.OH
o.'
' I
.11",
.01
.111
i.OO
MISCELLANEOUS
Arizona United i 2j
Nevada Wonder .70
Tecopa Mtuina- 13
GOVERNMENT BONDS
Ask
,3b
.80
.32
.07
.10
.08
.10
1U
,0
.03
.17
.03
.011
.01
.07
.03
.20
.07
.28
.75
.15
CHICAGO BUTTER AND EGGS
Panama coupon !
Panama registered :
Closing-
inn
. D7
. 117
Chlm-o, Feb. 20 lltlTTER llerelpta.
flOOl tllha Kvtrnr. "'Jp. flrnfa. 4 ft Iffi .. 1 ,v
nnns Hereipta. 2003 baaes. Extras, 30c: I'll S flov reuletercrt 4i. ltiss. .104U
first'. 3SB3SISC. I Dll of Columbia 8.23, 1023.. 07
103il.. ..
L'. 1030..
t'.tnitma couron z. Ulan...... VT
Panama registered 2a 1038.. 07
I'.inama coupon Ha, 1061 S7
Panama reslatcred 3a, 1061. S7
l'hl.tpplne 4a, 1DX4 (in
Philippine 4. IB.I.'i no
Philippine 4a. 11180. ......... bn
IT H Unv couiion 2j. 103ll..., Il7lj
V H Gov reirlatereil 2a 11)30... 117!-!
I H Got' coupon 3a, 1040 SO
17 P Oov rCBla'ered 3a. 11140... M)
I' S Oov coupon 4a. 1023 ,.104'i
Asked
OS',
isH
02
92
06
HA
80
OSU
CSVi
02
02
lnr.'i
ioivJ
100
94.1
94.10
94.36
94.24
1000 Lyons 6s 1011 101i 101 y 1
Marseilles 6s..l0iai 10ia4 1014
864
92
75
08 (i
06
01
97
8000
3000 Mldvnle 5s .. 86Ts
10000 Mont Power 6s 92 H
1000 NYC&II con 4s 73
16000 do 6s 98-
2000 N Y C 4s'61 !I6'3
1000 do 4n 1959. 91
5000 do 4Hs '60. 07
1000 N' Y City 4VSs
Nov 1957 ..101U 101 '1
2000 N Y X II 4 H
3.4b 50
3000 N Y Ry 4s .. 44
42000 do 5s 14 s
4000NYTel gn 4'.Jb 91 "j
14000 NYWC&B I'is 51
16000 P gen ct 4 Vis 88V4
42000 Penn en 4'4.,s 05
46000 Penn 5s '68.. 05
60000 Pco OH 6s '24 93
1000 P Marquette 5s 86
3000 Rep Ir & S 5s 05
6000 Sinclair Oil 7. 96'4
2000 StL I M & S 4s 80 'i
2000 Seab A I, aj Cs 48 ?;
93000 Sou 1'ac cv la. Bi
90000 do cv 6s...
3000 do rrd -is.
GO'S
43
14'!
01U
61
88-4,
95 i
954
92 ,
86
95
96H
S0
48 'i
83i
103; 103 U 103 i
81 SI SI
86T4
92
75
98"
9614
91
97
101U
50Vi
43
14 i
91H
51
88H
95.
95T.
93
86
95
96W
80 'i
48H
831
7000 So Rwy Is... ii6 06U 66',i
1000 do 5s 05V!, 9 5 ',5 05 ',i
62000 Third Av ndj 5s 32 Vj 32 32
6000 U K Realty 5s. 68 61 67
6000 U S Rub 7B..103-; 103", 103 i
37000 U S Stl a f 's.ion-i U)0',A lort,
200 Union Pac cv 4s. 87 87 8
6000 U K of G B &
I 5'iB 1019.. .100', 100 100'i
61000 U K of O 1) ft
I 6V4s 1021.. 98, 089, 984
490000 U K of (1 B &
I 6Vs 1027 ..101 100 101
33000 Va 6s Brown
Brothers .... 74 71 73VS
5000Wiscon Cent 4s 78 78 78
MONEY-LENDING RATES
XEIV YOKK. Money on call, mixed
collateral, opened today at 6V4 per cent
for lending and renewing, On all In
dustrial collateral, the opening rate was
6 ner cent. ....
The time money market continues In
active, and quotations nre nominal at
5'A06Vi per cent for sixty days to six
months on Industrials collateral. There
are very few new loans going and vir
tually no business on gcod mixed se
curities. Mercantile paper is quoted nt an
average of 6Vi per cent for choice qual
ity, with the less prominent names dls-
ii.i, at KXL ner rent. Th... I. an
other secu-itle. In "occasional transaction In very short
notes In cl'rc ..".Inn high-class material at 5 per cent, but It
'.deposits decreased l - exception rather than the rule,
..ui.H.118 oecreaaea .i.t- ri.v u, ....,,,.. nee-
Ings cf paper continue to Increase,
Trim duiik a.cvrutances nre only
itates are uncuang-
06'.i ',4
1 tvi-mai nntloA that uuort BubnoHntlons
I ".!". i t. r ITk.-.. T -- ...1 t. ...W
p-rjemn utllUlcs Company and thai payments in full ths Bubscrlptlons are
jLiirrCior M en' mr uir rniujnaT i fOrieiieu unu luainuiiiriii iaj imciiui iui
"Jte.iliiWt-Mltfiervs Banks to the general account
.- Tr.-L-r.''ivj-"..?"
Heptrmbtr
lirremDer
January
f Druary
ARTHUR II. lIlLT.Kn.
Hrrtmrv.
of the Treasury of tha United States. Up
. Aniniat 31. 1918. tha Tr?aaurv atate-
ment shows payments on account of prlrt
' clpal of the ftrt loan of $1,989,466,490.
li Fleur Ootput Decreases -As the ullotmepLr was. J2tooo.ooo,ooo
rt T1iji VnTrMi- t litre Wlia fiv -.,mu in iuubu tpitun
tbavMtanilta In default at . 't time, although recordy
t-eb.
IlliW w.jb 11.0 .Muiiiraiwiia .--, ,hov, What navmenta were ac
pff l"Sl..ed9'Cdru"riTl t r-Taliy madori ,hes.ub.crtpt.on-.
.'. I-" v)"a. allll.rmrlf aiiisUnt lraasurar
BJ. W M'
rv' II.
W
13.11.1
13 3a
ay'a
oiwnlni-
14. 4i
13.01
In. H.i
I Hll
1.1.33
13.01)
Price of Butter Again Soaring
(lilrato, Feb 20. Butter Is again
soaring In price, selling In thl. market
at sixty-three cent, a pound, while a
week ago It could be bought at retail for
forty-seven cents. The main cause for
the sudden rise In price, according lo
membtr. of the butter and egg board, Is
the recr-it decision of the Allies to ac
cept 1.000,000 pound, of American but
ter, after a decision not to take It. The
contributory Influences 'were ..Id fa ba
Ul.h PrlCM ,for milk, lifting food d.
ftaMctTalttwt reatrtoUon. nnd IndeoMen
Reierve IJanVi' Discount Riles
Offlclnl discount rates at the ttvelva
May Dpart-- Federal Reserve banks were a. follows;
(The first column gives the rates for
all periods up to and Including a nrteen.
.- . it c i n. 1 ti ! ', day maturity, the second for a period
INext U. S. Loan Probably April 21 of sixteen to ninety days. The third
vvnalilnclon Feh. 20. Seceinry Glass and fourth column, are the rates for
made the flat statement today that the . government bondor notes.) ftWa
next popular gtvernment security Issue Com. papr Gov. papr
would be Issued most probably April 21
Money raising securities a-II1 be offered
for absorption by the nubile, whether
Congress decides upon bonds, note, or
uny other form.
In to no 1A u nr.
ir.dl)'s darslSdais data
Boaton ......
Nat York ..,
Phllailelrlila .
Cleveland ....
Richmond .
' Atlanta-
BAR SILVER " IfiffilS.."::
Commercial bar sllvr wag quoted In fan Franflaco,
New York todav at 11.01', nn ounce. ?, ut'"
unchanaed: In London at 48id. a. il. 'Dll.
crease of 'id. I
i BANK CLEARINGS
4
4
4
r-
4
A.
.S
ill
4S
6
4
4
',
4
a e 4
tv lei
No Change In RefineJ Sugart
w Vir, KeJK, 10. R'flned sugar
wra wjrw4 'iM" 2 per eM fer
ilrmrt moalraU,
Tt.nk ela.tln.a. comnarad with inprHMn4.
in dv laM two 3 tar,:
- ., s. . lftlu ihia,f i,it
.iTi.ssa iM,w,i4K Ha.tilay
, murz
xi'ia .i-iattww . aat v miiammm
moderately active.
ed.
Call loans on prime bank acceptances
stand at 4,i per cent. .
PHILAnELPHIA Call, 5!i percent!
'time. BH8 per cent. Commercial paper,
thre to .Ix months, 6V5',J per cent;
six months, per cent.
FOREIGN EXCHANGE
w York. Feb. 20. Dullness In the
foreign exchange market was unrelieved
In the early session today. The only
features were a slightly higher figure
for Swls. exchange following Wednes
dav'B firmness In that class and pesetas.
Quotation, were:
Demand Bterling 4.76. cables 4.76,,.
Sixty-day bills, nominally. 4.73 1-3 J
nlnet7-tlay bill. 4.71 Vy,
Frano cable. 6.45'i. checks 5.481J.
Ktvlss cables 4.86, check. 4.90.
Clullder cable. 41. checks 41H.
Peseta, cable. 20.28. check. 20.14.
sinhholm cable. 28.20. chrrka ? on
Chrl.tl.nta cable. 27.40. check. 27.20,
CWMHHw.en cKuiea (ti.iv, cnecK. si.inj.
i nun ana - iy luauy
at'i-iu-n.
4W ,-JWV
The New Revenue Act
OUR booklet on the new Federal Tax
Law is now ready for distribution.
This measure, which is' awaiting the signa
ture of the President, affects individuals,
corporations and partnerships.
The booklet, contains the full text of the
income tax, excess-profits tax, and other
provisions of the new Revenue Act, with
explanatory summaries and examples of the
application of the law.
Copies of this booklet may be obtained on
request. '
We have established a service, under the
direction of Mr. John G. Herndon, Jr., for
the assistance of our customers and others
in the preparation of their tax returns as
required by the new Revenue Act.
You are cordially invited to avail your
self of Mr. Hcrndon's services, which are
rendered without charge.
CLAYTON F. BANKS
421 Chcfnut Street, Philadelphia
CJjJI
Correspondent
Guaranty Trust Company
of New York
tTaaaama-ttBV
EXECUTOB
CIMRTr.RKD 1IS
TRCSTKB
FIDELITY TRUST COMPANY
Member Federal Reserve System
Capital $5,000,000
Surplus $16,000,000
Main Office:
325-331 Chestnut St
43-53 S. Fourth St
Broad Street Office:
H. E. Cor. of
Broad and Chestnut St.
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