&
IW
m.
16
EVEKltfG PUBLIC LEDGJGlRr-PHiLABEIHIA) SATttRfcAX NOVEMBER 29, 1SU9
'ZXmlS OF FINANCIAL WORLD NEW YORK AND' PHILADELPHIA STOCK QUOTATJOM
n ncooiNlarica with reaolutlon adooteil
flmnmon .Coufiell of the. City of Phil.
r, f"C!I1l. ?.1 !f4y. November i'0, 1019.
?Si-fUi,hW,lnit creation of n loan
JLi'SSSf J,the um of mleen million (in..
Ho 'lnformtior" ""M' uubltshed for pub.
' WILLIAM it. mmrott.
Chief Clerk. I
.. . AN ORDINANCE I
yol the creation of e. loan or Inane
VI tha eum of fifteen million (18.000.000)
eiollars, belnr the untaxed portion of a I
f l0". ,n. ,na ,um "' forty-two million four
ftunJred and fifty thonvarol eeven hundred
P'' nlnetyjaeven 2.4i0.7u7) dollare pro-
jftit? j r us n fJruinance approvea tne
GENERAL RECOVERY AFTER
WEAKNESS AT THE START
Froo Covering of Shorts Followed Opening Drive, Which
Failed to Dislodge Long Stock
?'" of June. IWIO, this Ordinance ?SCM A or It, Nov. L'f). The week closed
jf JunVwT ioibrth. mm flfieen million " " '"'" Professional ntvl extremely
flOllarB (n tta l,., .... .., ,,.& s..u.lAn
J conetructlon of the main hulldlnir of
i.t-Fr9 library of Thllodelplilai to ray
"ame for the heretofore authorized
5 "5"1'r"r., widening and ch&nglnz ot srade
1 "?," conetructlon of sewers. con
r Jfmni10? ot Parka and other purpoiesi
I.. .i"V.tn removal of irrado crossings In
South Philadelphia! toward the acquisition
J,ana payment for property, erection
nn conetructlon of eewairn disposal plant
na sewerage system of Vrankfonl creek
5iy L1 'he acquisition or property
f5 'r?proY,n,ent of tho Parkway! to par
IrrpRtilnr nmrlirt today. Prlrcs liroUo
ReniTiillj itt tlip otitseL tinder the com
bined pie.ssmo of roiitlniied llitiit1ntloii
nnd lcorniiM brnrMi drUes. They were
mnrki-tl lip ncnlu in the Inter dealiiiRs
by free (oterliiR of shorts, lonrlng tlie
ne( ilmtiKes for tin" tiny in most oases
uinniporliiiir.
It was miMlilnir hot n I'lirerfnl nl.-
par miixpIieiT ulieu Wall stieet ri'iiiinoi)
Ut.Srer7,"srtr.,,,;Ki?.?.re .WH.J JAJr bniinew Ibis monilni; f)vernlKbt do
construction of main eewere; construction MMnpiiionts in eitber tlie Moxlotin or
Pteker .K2SI? 'ny.tn.M.'5' BlBlf i?2 bit iiMiiuon eoal hltiintloni failed lo
jew" JonVtVuctionof" b" loVw &"$" nnv nppreoiable ebnnKe. In fact.
IVji.' . J,mrrovement of country roads, llho 'Mexican situation was considered
Ku,,r3j07oc,uTWTnovOe',nen! - ninn.-liiB lb.,., ever As to the
SJ'ha South Drnad Street Boulevard, "on enal roil - f-rsv even thine poitilcn
.... a, Leoifuj tsitnd Perk and OoTn. to n lonff ilniwn not fi"ht Tlio Intp
J?ent ajenuei toward ILo erection of a '., " H,"K, "" ""' nlil. 1 HP late
f-onventlon Hall; toward acquisition of i Hurry jestenlay in the call monej rate
5rg.ffd,OTrinvsf'K ! !''' !1i'(-" 'r.1 n l",,11 ,,,' "u-1,,M!?h
f,S3 N"re Home, and other bulldins " Ki'iiernlly reRnrtleil as msiRiiifi-
nf PtihiivT jyryeion or me Lwparunem lant. tnasmucli as trpresen pi arReh
S. we'iioif'oV'i'n BA?t SKISS' ,0War', '"' "leentb-hour tnsh ,,f some belated
..i"'"" ' "J no Buret nnd Common Coun
h!.of..,h"..cu5r of Philadelphia do ordain.
dill t It A nltivnr. Pltv Qolutin. , ri-
Controller, or any two'ot them, tw and they prompt to take ndwintase of all open
ttS.-.r5,',u''!nfl"',tn.. borrow at such hirs uIIM1 bnslness was started and
gaWntth. rTln'terostVof' th". Clty'di! 'I ""'"1 " "'"rk do n p. ices all alonR
E?..'iSm 'he hlEhee' bldd.r or bidders. Ibe line. In tills tbe.t wete altoRetlier
ih a,a."rt"emcnt, at "ot tees than par. on ..ssfnl us ilnrlnir tln first luinr
JfifAlUl "nd cledlt o be City of Phlla- i . " ' ,ls l'IHB ' Urst lioill
SS'.fbia. a sum or utms which in the aftere- prices were carried from 1 to over -t
toooool "dm?.0,. vlct,?i fteen million (in.-I points under ln.st iilRbfs clositiR leel.
W.n $ !?Kiw? SuiiSS"foSrdh,ssara (;."""'-''1 M"t" j i-iit
ideut. boever, Ibe raids
boirower.
In all epnts Hip bpur crowd were
ymi fifty thousand even hundred and i plmiRC
r'nety-eeven (42,-to0,797) dollars provided' li u,is pi
for by an Ord nance approved the 20th day ll ,V".S ,,,,
?h.RM' r?1,I.B' thl" Ordinance supplementing ' ere dislodRing little long stock, nnd the
fifteen mil Ion' llBoVou.n,.;;'.u,,"h'.l,1(, '''!' ",. not lollimml tip m 1.1-
KndeV.i"pr'ovldr "in'tgS'eVcon'd0 Dect"a ' "'"'-i" -"i"K prrsstin. nsobscrvpd
,' ''s S rdinance. , ypslenlnj . On the foutinn, the trad-
!?tajf Shr!ffi?t fef.'Sfih'S l!" '""! "" P1"Si'rii'l fur before it was
III i' iii'ili-i' llllll Ull IM'lllMIlll AMIS IIIM
nnh sufficient to nbxitb all oflerinRs,
bnl aKo to slim the teactionary current.
I here was hasty shifting of position
,.:iSnc8 .snaI be usd for the following
purposes, to wit: Toward the rrctlon anil
ronetriiciion of thj rnaln hulldlns of the
Tree Library of PlillAdelnhln. imi tnllHnn
Jour hundred and fifty thousand (2.430 0001
TrJL"1 '.."ay for dtmates for the here- ' 1 n,,. irnilim ,.n,.iii,n,.i ...,.l nrr..ta
iurn auinnrlzcd oonlnff. wlrtiilne and " " . -. ...ft. ... ...... i...,..,
iL'a"?'nr of Frade of streets, construction of
l Were lit once innrlp in rninv innnv of
S-rSK'ttlr'WoTffnofal'.! ".T .SU"', nlf 0,,,. in t,1P rl!" "W
'arn th removal ot erail ""'' i-uvrniip iijuvnncnt uccani1
UUUJ dnllfir tnurnt-H
tract"da"ted SffiVj. IJJ"!Sff"' "" wr"i?n- '"nre Retiernl in the second hour, by
;irth5nadf2diMtRhroCuh,ai3d (17o-o.ooor dm,.,ilr0.1 hlch tlit- greater patt of the list re-
ir...,Vi ssiiuon ot property, erection and irieveu niueii ot tile lost ground.
Wn.f.-SBB'SinS!!! rT" If0;",."1!0 T h'"wl,l
?hi.'nl'll0,J. 'SStrlmnt'1 at"! thlrty-elaht i of lending the handwriting on the wall
rZpdJWvSSKV fo?W property th- wm-k'H further depiPcintion of sp.
jArfen and improvrmmt or the Tarkway. cnritj values caused little surprise. The
tetf hUere?ofo(r,e5Xnd0a,nB,."io,0beJatyakfer; fl'r,,l"r "Wr ,,"'' "' "'"K'1 VP
for Falrmount and other parks, seventy-! "ns generally considered by the closer
(400.000) dollars: ronstrucllon of main U uas Bonerully appreciated by those
!!?wSr.Li,ri,ii,!fi!.r., "ilnn S3nk'S ."'recta, four , who made an unbiased and careful mm -IZ
?e',SV,UtCVonus)andd0l,(fo"oou?d,.o '-'- 'f "'", oxIstlrjB conditions that
lars: ronatructlpii of branch eewers. thirty I the o called adjnstinent must proceed
nVUBffi3W '" mnrket trading
larii irrnainar atreets. twenty-four thousand siiuniion couiu ue rcstoreii on a sounil
tysi.ooo) dollars: improvement of country
Toads, sixty-seven thousand (07,000) dollars:
ravine intersections, twenty-eight thousand
izo.uuu; aoimrs; lmprovrmeni or lite rot
basis.
Many nf the influences which eontrib
titi'd primarily to the mid-N'ovcmbe'
lowing- branches of the Boulevard Bensalem. "' I" """".' . '" "" """ -'" ' '""c
koimS and Poauessinrr avnur.. on h.m.irT . break were again oppmtivp throughout
and sixty thousand (100.000) dollars: for the the wpek. The mental tinsettlement of
further improvement of the South Broad
Street Boulevard, Plaza. Ieacue Island Park
nnd Qovrrnment evenuc. tlv hundred and
twenty thousand (6-0.000) dollars: toward
the construction of u Convention Hall, sup
plementing tnonev borroweil under an Ordi
nance aonrovrd .Tune 10. 1011. In,nlv Ihmi.
end (20,000) dollars: toward the acquisition '
of land, erection, construction and equip- I
fnent nf tha Philadelphia General Hospital, i
Nurses' llumo and the other buildings under
the supervision or J dlrertlon of the Dc-1
partment of Public Health and Charities, l
two hundred thousand (200 0001 dollars, to
ward the erection o on Art Museum, on '
mUllou (1,000,000) dollars.
Bee II. imcresc on me saiu loen at a rate
tiot exceeding xour anu one-nair (4'iJ per
centum per annum shall be, paid by the City
ot Philadelphia hair yearly, on the first days
of tha months of January and July, at the
.office of the fiscal agency of tho City ot
Philadelphia. Certificates ot the said loan
the market community, however, was
still lurther oggravateil hy new com
plications in added tlisquiptlug features
NEW YORK STOCK EXCHANGE TRANSACTIONS
In the bituminous coal situation, fresh
disturbances In MpxIco nnd the distress
ing muddled foreign financial eoiidltlnns.
It was no wonder prices melted with
alarming ntpldlty. ft wn more sur
prising the slump did not nttaln more
serious proportions. .
This would seemingly Indicate tho In
herent position of the tnnrkct to be much
stronger than Is generally appreciated.
Jn n measure, this Is true, ns the drastic
purgation of tho speculative structure
hnd primarily for its purpose the com
plete elimination of individualization of
the trading. In othpr words, the cru
sade. It It may be called thus, was di
rectly mainly against. the reckless and
extravagant pool and clique operations.
Accompanying the progress of the od
iustnient process there has been a wide
spread growth of the bearish propa
ganda. This is nhvnya experienced, how
ever, in the transition of nil great
market swings. I'nfnrtunately Wnll
street has iirver brpn able to reach or
strike a liuppj medium. The pendulum
of market sentiment, on the contrary,
always renches the two extremes. If
the nmrkcl community Ir not ovcr
buhlilliiR1 with bullish enthusiasm it
plunges liead-over-lipels into the deepest
gloom nnd the atmosphere, of Wnll
street is of the deepest blue.
The market community, in other
words, is nlways subject and controlled
by Impulses. In n sense is very much
the experience of our bojhnod days of,
"just following the leader." In con
seipience, ilie followers on cither side
of tin contesting forces soon become
overcrowded. It was largely because
of this overwhelming enlistment to the
bullish ennse during thp recent violent
upward swing that left tho market
vulnerable to the sweeping reaction.
I'nless nil smfnee signs are failing nnd
misleading there is every reason for
supposing the bearish following numeri
cally are growing (o similar extensions.
There was no doubt considerable li
quidation of long stock during the week,
but the grenter amount of selling pres
sure unquestionably einnnnted from the
bene camp. Thus it might be said, that
not only is an linwicldly short interest
growing which will serve as n buffer for
the market against any great smash in
values, but will also inevitably prove I
tue nucleus for a pronounced rebound in
market values.
This does not imply un possibility of
an early resumption of bullish opera
tions, but foreshadows the bringing of
market values to a lot pi commensurate
with existing conditions and earning
powers, liased upon precedents there
is little hope for any but n traders'
market for some time to come. This
means n bonildeiing backing and fill
ing process and gradual contraction of
speculative ventures
Bales
too
800
iOO
.100
200
1909
(100
100
tcoo
soo
2700
1900
100
900
A00
600
too
TDIv.
n Ulth
, .rtiiams lixpress .1.1
. . Advance Homely ,... 38
B Advance Ilumoly pt .. 10H
0 AJax Ilubbcr 80J4
Alaska Gold Mines ... 2'
.. Allls-Chnlmers 4tU
R Am Agrlo Chem 2!6
0 Am Agrlo Ghcm pt . . . 6H
8 Am Beet Sugar 92
8 Am Bosch Magneto... 120 4
American Can ISO
13 Am Car & IMy 131
Am Cotton Oil 40 M,
.80 Am Druggist Syn ... 11 H
.. Am Illtlo a: Leather.. 30
7 Am Hide. & Leath pf,.13l
American lea 42'
1000 4.80 Am Internat Corp
BANK CLEARINGS HEAVY
Bank Exchanges This Month 7.10
Per Cent Ahead of Last Year
While not up to the record-breaking
total of October the volume of Phila
delphia bank clearings continue ex
ceedingly heavy, ns indicated in the
monthly statement published todnj .
nuauuifuiH- gciiircsiM ui me saiu loan , , . e r in . .
h.il Ka In ,ltn imtiM.1 form. In nttS nn.n,,n,. I all, mill!- (in IllPrPlISP Ot i.l tlPT CPtlt
as the lender may require In tho lumi of vpr November last ear.
nni BlfllUOW IIUUI li'lliSB uuu IIS IllUlUpteS. rm . i 1 ,. . ... .. f t,nr.1.0 ,1,,. ,,!,
in resietercu or cuupon iqimi, ana ll snail Lin iiniii iiiiii-imi ,n vn:vi-, ,i,iwuh
"be expressed In tho said certificates that the r ,i... iu.:in,llt-l,i!i f'lwirmi. Tlnm-n for
loan therein. mentioned la payable In thirty ., "."""'' . i, . i .. .. . '
aie inercor, ana mat the prtn- lllr uiimucss iiniiuu ninni imin,, n-
STOCKSSHOWED
! MORE RESISTANCE
s.'jurtet 4
I and tot
rpfiwr ninreevStorth",,a,tdinV,,SS 5f?.Sl5Sir SI ,!)l.S,0(l7.r.fi:i. as compared, with ?I.
from all taxes. , , 7nl,i0i,,S!ii in
Hen. 4. Whenever er.v Inen el.att ,.-
created by vlrtuo of this Ordinance, there Is
by force of this Ordinance, an annual tax
levied of alx nnd one-half (014) per centum
n tho par valua nf such certificates so
Issued to pay the Interest, also tha prin
cipal, of auh Joan within thirty years, and
there Is hereby annually appropriated to the
Commissioners of the Hlnklne Fund, out of
the taxes so collected, a sum sufficient to
pay the' Interest on said loan, also the prin
cipal thereof, within thirty years and as
the same becomes payable. The appropria
tion for the Interest to be paid semiannually.
n.i lHr ""? klnklmi Fund quarterly to Uie
aid Commissioners
-ii rir!-
Ti.iL,,.!j?IK!:r 'N nnvr and ni J"
Ii!7i.,.,v."....'.,!,KT"A,iK m,N and r-b
i?.,.l',:" HOI.DI'.KS (II- Till: I.IMIMSY Manh
S'TK" - mi'DKATION: ' ' April.
Notice Is lu.rehv bInhi, i,,,i Mm Unlleii 1 M "
?... a D'lrlct I'ourt of the Westeru Die- June
.""' 1eminaUiB In 11 iiius- .nlltled July
XVonnsocket Institution for Savings eti . s j Auk.
:l,ty, Whu'' ' " !' I.H(kKaniii Trust ' hi'Pt
J" , i 5rv"m.t, a"d '--kinv,iniin Trust i'o tin
v i.Hiasey vnlei i'o el hI. Lonsnll.lated
oauso o 411 NoMrher Ti mi 101.- In
ISSii',J'tt"v.?xeJ li"' 1ro rut" r distributive
I?rS.P1abie ,ll,on all bonds nnd coupons
w?t,1.by h"" i1"' mortiraee of tho Llndey
hl&.vfi..0'. ".1d Vpon BU,h ' 'he coupons
.1?? ? "' bond" secured by the first
?v?r Jlfndlm? rnortBage as nre Included In
V,1. .,nrt'e,nt?r foreclosurn and sale, dated
,?Ji".i,r0:. 1D"! " ot l,'e proceeds of the
foreclosure sale nf the mortirased properties
J?f.'Ll".,i. 115' LnlB-, an, Puant to the said
oecree the underslened win be prepared to
rnKB payment In accordani-o with ejld order
or court as follows.
w.F?5 the first inorlease bonds nnd rou
M?uJ"e debt and Interest In full to wit:
Upon each bond of J.'OO faco value, with
coupon:
.i?.2l, of 10'1 'i.1"1 fubaequcnt coupons
attached, sum of $834.02.
i. tV of ',:10 and subsequent loupons
attached sum of J81.1 lit.
-.i."? ot I0'' ."'"' subsequent coupons
attached tiunie of $7n7 III.
.r. r.0 of 4 1-111 nd subsequent coupons
attached buiii of T3!l ili
No L'7 of 10 1-12 nnd subsequent coupons
attached bum of li'l.n
.?'0.3J.1 at i0'1 ,4 "n'' subsequent cnupons
attached, auni or $a..i.o.'t
Upon tho first nnd n fundlns niortifnse
COUDOI1B.
Ho.
7 of 12-1-1U
H of (1 1-1S
of IS.l.Jfl
10 ot rt-l 14
11 of 12-1 14
12 of ll-l.t.1
is of is-i-in
the corresponding month
last tear, an increase of 5l.i(i,,i(l..,J(jl
or 7.10 per cent.
The mouth'M hcavj volume brought
the, cleiiriug for the eleven months of
the calender enr up to the unpreceden
ted total of .,?l),!)2.:t!)().(ll.,:!, us against
S17.ll."4.007.1i"l in the mme period of
101S, nu increase of !?1,!I.'S7,7S:2,SG9, or
0.74 per cent.
The following table shows the clear
ings by months during the present cal
ender year compared with those of 101b :
inio 101s Inc
f I ST.'. 170.2.1 1 t .'i-'- SJ7.(lll! Ill dl
1 t.-7 11.1,1112 1 2J1 .111-1. 'Mil 111 1)1
l.iilo.'Jtiil .VJli 1 4'J7 17'i ."i7 17 ,il
l.l'..lll.:i2II.IHI7
I TJII.r,ii7.11.1
I S.-.O 481,010
i.ti.is -ins.tiiis
1,7110.301.117
1,1111.11111.471
J.OIH I17II.IHI0
I 018,007.393
i r.70 s.-i 'jiii :i 4
1 711 lll"i.4.'0 0 SI
I 70oiol,i7:i s li
1 7lf. S1L',7K1 S 77
i 7:11, ens iis j :i iii
i. urn mi. ii2 in :;
1 hsil, lltl.'llll II f'l
l.TSI, "01,327 7.111
Nm
Total $10,882,390,023 117.0M. 1107.131 0 74
BANK CLEARINGS
Hank clcarlnus toJay compared with cor
spondlnu day last two years:
Phlla . J83.230SR.1 $72,035,712 $S0,3IU.Hn
Boston; I. 75.73.-..110 U7.340.274 51.428.008
ChlraBO luo in mj
N. York. 1. 030.903. R3R
WE OFFER
JOHN B. CRAMER
MANUFACTURING CO.
ItuoUct un Request
7SG UREXEh HUILD1NU
Shorts Found It Prudent to
Cover in View of Improved
Sentiment
300
.1.100
100
0.100
4100
100
1300
100
1210
1030
3100
MOO
4800
100
ion
.100
MOO
100
100
2200
200
too
300
2700
1N800
100
f)000
iao
1)00
1430
1211)0
too
1200
101)
2900
1700
000
1000
1A0O
800
200
10,111
2.10
4000
130
4100
100
2100
200
000
700
200
2.100
2400
400
4000
700
400
3000
1100
100
400
400
700
8100
300
100
2200
700
100
700
000
2100
100
100
-44 '10
100
T.:i)0
1)00
700
1090
imo
1)90
A00
100
.1 Am Linseed
6 Am Iocomotlvo
. . Am Matt & Grain . .
Am Ship & Commorco
4 Am Smelt & Ret ....
1 Am Smelt & lief pf. .
!t Am Steel Foundries
1 Am Steel Ftlrlcs pi
Am Sugar Ilcf
.t0H'2
00',
9t?i
49
24
7J',
40J
02
.13334
1
MONEY RATES TO RELAXi
to Am Sumatra Tobacco. 89J4
S Am Tel & Tel 0014
20 Am Tobacco. 242 'A
7 Am Woolen 119
. Am Writing Paper pf. M&
Am Zlno Lend & Sm . 10 W
0 Am Zlno I, & Sm of . 8
4 Anaconda Copper .... BO
.. Asso Dry Good!) 32 H
.. Asaeta Realization ... 5'a
0 Atch Top & Santa Fo. E'a
5 Atch Top B F vt .. 77?;
. Atlanta Blrm & Alt .. 7ia
7 Atlantlo Coast Line .. 02J4
10 Atl Oulf & W J ..104
.. Baldwin Loco JOS'4
7 Baldwin Loco pf 10S'4
. . Baltimore & Ohio .... .12J'
4 Baltlmoro & Ohio pi. . 45
8 Barrett 1I8H
.. Bethlehem Motors .... 32 li
Bethlehem Stoel B ... OHi
8 Bethlehem Stl 8 pf.H
.. Booth Fisheries 1214
8 Brooklyn Ellison 0&
.. Brlilyn Itapld Transit. lS'i
.. Bklyn It T ctfs of dep. 10U
.. Bulto & Superior Cop. X0'4
SO Butte) Copper & Zlno. 914
.. Caddo Central O & It. 21
4 California Packlns ... 75i
7 California Packing pt. .120
.. California Petroleum . 4t!4
2 Calumet & Arizona . . SH't
10 Canadian Paclfla ....14214
7 C'aso J I Thresh M pf . 99
5 Central Leather 029
7 Central Leather pf ...107!'
4 Cerro do Pasco Cop .. iHys
4 Certain-toed Prod . .. lit
5 Chandler Motors ....1I48
4 Chesapeake & Ohio ... M
'hi & liist Illinois ... 7
. . Chi Mil & St Paul ... 38
. CM Mil & St Paul pf. fills
7 Chi & Northwestern . 91
.. Chi Hock Isl & Paa .. 24H
0 Chi n I & Paa 6 pf. 00 Vz
7 CM n I & Paa 7 pf. 7.1
.. Chile Copper 18
3 Chlno Copper 3.1(4
0 Cluett Pcabody 85
.. Coca-Cola 3814
5 Colorado Fuel & Iron. 404
4 Columb Oaa & Eleo .. 01
1 Hoi Graphophone .... to
Colorado & Southern.. 20J4
7 Consolidated Clear ... 04
7 Consolidated Ga-j .... 84
.. Consolidated Textile... 32!4
7 Continental Can 87
.. Contlnontr. Candy ... 13 H
.. Con Interstate Cal M. 17
.. Corn Products Kef... 794
7 Corn Products Ttef pf.107
0 Ct ex Carpet 51
V, Crucible Steel 107
7 Crucible Steel pf . ... 9?a
. . Cuba Cane Sugar .... 45
7 Cuba Cane Supar pf . E4,
.. Denver & B.lo Grande. 714
9 Delaware & Hudson .101
. . Denver & H O pf . . . . 13H
.. Dome Mines UK
a Elk Horn Cool 27
7 Emcrson-Brantlng pf 92 'A
Today's Net
Tovr '"lose Chge.
3 .12 . .
as
70', ..
so y
2(4 ',
4154 H
92J4 1H
1)034 V
91 3J4
120
50 -I- 54
13254 w
49 54 !4
11!4
30
120
4254
10054-0054-
91 -49
-27
-
0254
07J4
40 92 -13354
89 54
9954
240 - It
119
6454-15J4-63
6554
62H
5
84J4
77 4 f
754
92
104 -i
105
105 54
327a 4
DUO 3.50 Endlcott Johnson
Modi sales today on the New York
rvrhaiiKc, as compiled hy the Ktcning
Sun, totaled T:t,1,l)00 .shares.
5800
3500
1300
2.10O
1700
1700
900
.100
8200
2700
C1D0
300
500
1700
11)0
510
200
1231)
100
!HU
'800
42)0
2100
2510
1300
too
1200
7200
4400
4900
1200
100
2000
1000
100
4400
Erie
. . Erie 1st pf
8 Famous Playcrs-L .
. . Fisk Rubber
2 Freeport Texas . . . .
3 Gaston Wm & Wis
C General Clear ....
8 General Electrio ..
12 General Motors . . .
0 Gen Motors deb ..
4 Goodrich B F
Granby Consol M & S. 51
Gray i Davis 48J6
7 Great Northern pt . . . 7954
4 Gt Northern Ore Ctfs. 3854
tireeno. Cananea Cop . C4i
Gulf Mobllo is North . 8H
Gulf States Steel r:t
6 tlartman Corp 89
4 Haskell & Barker Car. 60
7 Illinois Central 91
u Inspiration Con Cop . 48 14
, . Intcrboro Con 1?i
. Inter Con pf 12'4
Inter Agrlcul 20J4
5 Int Agrlcul pf S054
0 Int Harvester 12854
. Int Mer Marino 4854
0 Int Mer Marine pf ...10lai
International Nickel . . 21
. International Paper .. 07
. Iron Products 31
. Kansas City Southorn. IS
4 Kelly-Springflold Tire. 128
. Kelsey Wheel SO
Kennecott Copper .... -n
2S00 1.20 Keystone Tire & Rub. 40H
on
.no
.on
.in '
.Kg 1
or. 1
No
07 14 of ll-l-lfl
.07 1.1 or 12-1-tn
.07 HI of 0-1-17
oil 17 of 1Q 1 17
OH IS of II-1-1S
.00 19 of 12-1-1R
.na "n nf 1.1 -10
burn navitint will I... mail. ,n.v...-i,i
Upon the presentation of aforrnaM buiida
and coupons to the undarileiieil on nr before
tha lat liar of Jaiiimrj-, 1020, for oan
collation and uetruetlon upon tiannent in
full thereof Or for Btamolne notice Af narllal
payment thereon, and return to tha holder '
thereafter, any such unpaid coupons nnd
bonds must ho presented to tho register of
aald court at rtttxliurh Ta
All the aforesaid first and refunilltis in. in
cub coupons presented for pavmriit must
b attached to their appurtenant bond with
coupon of December 1 mm ami nil subse
fjuent coupons attached
Dated thla 20th day of November inlii
J WOOD CLARK
Speclsl Mauler
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
1(115 ltliU, 1MTATK TRUST IlI.Dti.
lnvestlcuto and aitiust partnership und
corporation accnunts. Also prruure U, a.
lllluulO IJi iic.".i
fi
MXANTIAl.
Ifniueii'iw
TEXCALOKAN
an. & UAS CO.
Dlildrnils ut lli rule of 1 (one) per cent I This determination Mils interpi
dUliicnds Is iMlile Deiemlicr Xutli to Mn.u. timler the circiunslunces. The fuct
lroposals
UEr.WTJlB.VT fvi;.J; 1U1MII AM.
itoom dm, vity Hall, rhlladelphi
m. Novenitnr 'IQ 1
. Sealed proposals will ba received at thla
edifice, until twelve (12) o'clock noon, ,!"
11CSUW7. tc.-vuiiicr iu, jiiiv, wneu bids 'vlil
lie opened and scheduled nu follousi
UUtlEAU OP rilATtll'lBS,
34th and Pine streeta
Tor th removal of ashes durlne im r.
mslnder of the sear 1010
Hpeclflcatlons, (forms of proposal and all '
Information relative to the toresolne may '
be had upon anplliatlon to tha Director's I
Office. Jloom BS1, wty Hall. r "
IJIds iroiu oinera man inoso enlaced or
....i.i...., nf rei.nril lleteuiher Iflth. Nnlisju
onrlit moiitlilj dlililends of I (one) per cent
in 1miiMb tho SOtli of eiiih , month to
sloiWioldera of record tlio lSlli uf that
m An 'elr. slnik dlUlend of 4 (four) per
cent In drilored, poahle Junuiiry 80. 1930,
.""" ""iL".' BAH-'i'Kt. IreaS:0,
! ... ..... ..fa... m II.M.
elphlS iiiurt,r,.,.r.,. .-
a. lSlli I vi'iori.irH ntionai, rim; insurance
niMI'ANl
Philadelphia. Nov 2R. 1010
Tim lloard of Directors haa this day de
..i.re.l a dlllilenil of 2Vb7r. payable .luntl
,,. n 1920. to stockholders of record De
iSnoeV '.'0 11U0
ChecUa lll be moiled
''" JAMBS M lASNINO
rreasurer
An niial aieellngw
Xe Vol It, ov. III). The e York
Kvening Sim's closing finnucitil review
toiliiy mi)s :
Tlie course of toilaj 's bort session of
tlio stock marker disclosed little feature
and uas finite orthodox under prevail- i
iiitr I'ondilinns nml sentinii'iit. The
ripening vaw MicRpstirc nf icnkness, nl- '
IhoiiKh the trend to low if levels waii
fur from uniform and lluctutitious in '
most c.iscs were rather narrow.
Short selling continued with sufficient '
pressuic to brine forth further liquida- '
tion, but it was apparent after the I
hrst fifteen minutes or so that the list
was propernde to offer no little resist
ance. While the weekly market letters I
oi leaning brokerage bouses gave expres
sion to varying degrees of bearish feel
ing, the atmosphere of tho street seemed
to lie le3s surcharged with gloom than
was the cnbc yesterday.
Perhaps on easing in the tension with
respect to our relations with Mexico had
much to do with this and not loss so tlie
taking of the hull by the horns by the
government in tho coal strike situation.
As a mntter nf filer tho liiimifinl nnn. .
nitinity hits not paid a great deal of iastweeU?V.u91.!:o'o'"srmres.
attention to Mexico ns a potential factor
murseiwise, However, much ns it may
lm(' been interested academically.
The roul crisis Iiiir been the main
consideration, affecting ns it does the
nation's basic industries nnd activities.
H would nppear to have taken a lond
off the mind that the Washington au
thorities, without assuming actual con
trol of the mines, hns determined to in
voke the Lever law to require opera
tion whether the miners or operators
like it or not. The feeling is that the
time hns come when it is the public
which is entitled tu have first say, und
the mines will be worked at the 14 per
cent wage scale without nn increase in
price to the consumer
reted
lirection
thnt
the week dosed with money at 10 ner
cent was not a perceptible influence,
and after provision for interest and
dividend disbursements, ity taxes and
so on nnve been mnde if is, anticipated
thnt the money rate will relax next
week.
Accordingly stock prices hardened in
the second half-hour, and by tho second
hour it was clear that, the shorts felt
It was prudent to cover, ns sentiment
bade fair to. improve over the week-end
recess. Tb? foreign exchanges wern re
actionary. Sterling wight drafts held
dowu lo S4.00 -only half n cent above
the recent record low. Francs were
quoted nt H.W and lire nl 11! 27
..13S?j,
. 13H
. 2094
. 87 5t
. 40 54
. 30
. 18
. 7(1
.17154
.327
. to?;
. 79
32
3754
70
80
254
. 40H
9054
90M
90 H
120
48 54
13154
49 J4
1154
2954
H8
4354
105
6054
90 54
49
2634
6354
97 54
39
9.2
13154
87 54
99 54
240
117
6354
16?i
55
54H
52 H
4 54
83 J4
7754
7 54
92
1G0
10314
10554
30 54
4354
11754
31 !4
90
114
12
95
1454
10
20
a
22 54
74
120
40'i
58 54
140
99
92
107 51,
2 ?4
54
11154
14?8
7
35 94
52 54
85 54
23 51
58 54
70J,
17 9,
31
85
S8 5s
40
CI
(354
205,
64
8.1
32
87
12 !4
1654
77
107
51
190 54
90 V.
4354
82 H
7
100
1294
13 54
26 12
9354
130
1294
1954
K5 54
39 ft
3354
1754
854
170
31954
83
78
51
4854
78(4
38
34
85s
(Ott
,SJ
55
89 54
45 !4
3tt
1154
1954
o0 54
12654
44U
100 54
23
6554
3S
1394
130
80
3754
1554
Dlv.
Bales In t tlleh
3500 0 Lackawanna Steel ... 81
10(1 ..; Lake Krle & -West . .-. 1354
500 .. Lee Rubber & Tiro ..3354
2300 3.50 icmgh valley 43
100 12 Liggett & Myers 201
13 Lorlllnnl P Tobacco .. .173.
1300
800
too
1000
' 300
300
200
3000
1700
7 Manhattan Kiev guar. 4194
.-, Martin Parry Zi
. . Maxwell Motor 37
. . Maxwell Mot lot pt . . 65
. . Max Motoro ctfs 36
. Max Mot Isl pf ctfs.. 65
10 Mexican Petroleum . . 190
2 Miami Copper
2700 1.20 Mlddlo States Corp
2114
55
4954
13
80
9i
14
2314
4094
55
li
54
14
tTs
54
IJ4
45 254
H8H4-3194-
80 -114
-
1254 -r
95 -15
-
10J4-
305i-l-
054 ..
23
75 54
120
4154- l
5854 ..
14254-i- 3
99
92 - 54
tt
94
I
1
!'
354
1
54
14
107J4- 54
l 94
43
H254 54
55
7
3794 194
5354 154
916
24- 4 tt
0054 54
73 2
17H- M
3354 .
851
3854- 54
0 - 1
6114 4- tt
7J4 294
2054- ltt
C4 - 1
8494 V
3254 54
87
1254- 14
17
7954 4 94
107
61 -J I
107 154
99 J4- J,
45 y,
82tt 54
7 - 54
101 tt
13tt- 54
13 54- 64
2 54- tt
92 54 4 54
133
13 - 14
203, 34
87 54 54
39 tt- 54
i6 1
1754- 1
70 1
17154 1
327 - 054
9034- 54
54
63 3
4854- I
79 t4
38,- tt
.14 - a,
!b 1 14
63
SI
56
89 54- ft
4854 354
39i 54
lift- tt
IP 34- 254
soft- yt
12054- 1
4654 54
10134 54
22 - J
67 t
38-1
163
120 - 3
SO
2854 54
46tt tt
7300 1 Mldvnlo Steel & Onl.
900 .. Minn A fit L new...
300 7 Minn St P & S St M.
2700 .. Missouri Kan & Tex,,
400 . . Mo Kan t Tex pf . ,
8000 . . Missouri Paclfla
1400 Missouri PacitlQ pf .
300 3 Montana Power
400 3 Mulllno Body 43ft
100 3 National Acme 36
100 7 National Biscuit ....llStt
1400 .. Nat Aniline & Chem.. 0254
100 7 National Cloak pf ...103?
300 .. Nat Conduit & Cable.. 12
300 6 Nat Enam & Stamp.. 75M
400 5 National Lead 8054
200 .. Nat It R of Mcx 2d pf . 54
400 1.50 Nevada Con Copper . 14?4
200 10 New York Air Brake. 116
3300 fi New York Central ... 7054
0300 .. New York N H & H.. 2854
306 li New York Ont & W .. 1754
200 . Norfolk & Soutlftrn.... 12
400' 7 Norfolk & Western.... 9654
6800 7 Northern Paclfla 80
300 6 North American 65
1300 8 Nova Scotia S C 7354
10500 4 Ohio Cities Gas 4754
3100 .50 Oklahoma Pro & Hot. 994
600 .. Otis Steel 35ft
400 3 Owens Bottling Mach. 60
100 3.80 Paclflo Development
73
60
36
300 5 Paclflo Oaa & Eleo
300 1 Paclflo Mall
400 . . Pan-Amcr Pet rts . . . 14
9000 0 Pan-Amer Petrol & T. 10094
700 Parish & Bingham.,. 4154
5300 3 Pennsylvania 4114
600 . . Peoples Gas Chicago . 26
3800 .. Pero Marquette 2334
16000 . . Plerco-Arrow Motor . 7334
100 8 PItroc-Arrow Mot pf . 10414 101J4
1200 .. Pierce Oil 1854 18
100 8 Pierce OH pf 103
300 4 Pitt c C & St L 07(4
300 5 Pittsburgh Coal of Fa. 6954
1000 .. Pittsburgh & W Va... 2054
100 0 Pittsburgh Coal pf ... 89
1200 8 Pressed Steel Car ... 07 4
100 7 Pressed Steel Car pf.100
looo 8 Pullman 11434
1600 6 Punta Alcgre Sugar . . 86
700 8 Hallway Steel Spring. 9354
3000 3 Ray Consol Cop 1994
12200 0 ncpub Iron & Steel ..101ft
100 7 Itep Iron & Steel pf.,106
2900 4 Heading 7854
700 . . Remington Typewrit . 80
1700 i nepub Motor Truck
Today's Net
Trttr Close Chi.
81
1354
33 ft
41
201
169 54
3934
2054
3534
64?4
30
6434
186
21
6454
49
1354
80
954
13
2254
4034
61
4354
36
11534
6054
10334
1154
7654
79
654
"tt
116
6854
3754
16 ?4
13
9554
78
64
6954
4554
954
35
55 4
73
on
30
'A
99 54
4394
4134
3454
2154
7054
13700 S.70 Hoyal Dutch NY...
2300
400
200
700
200
1100
1600
100
322)0
11100
100
2300
100
100
7390
'5000
800
1400
100
2000
4200
1000
4100
400
200
700
15600
COO
100
loo
200
2000
3200
100
900
100
100
400
7400
600
300
900
1000
6500
700
Saxon Motor
6 Savage Arma
. Seaboard Air Line . . .
. . Seaboard Air J.ino pf .
8 Scars-Roebuck
G Sloss Sheff S & I
St L San Fran
63 ft
98
14!i
7754
8
15?4
210
69 54
1554
I St Joseph Lead 1354
. . Sinclair Consol Oil ... 40
0 Southern Paclflo .... 93
20 South P It Sugar . . .21914
" Southern Railway .... 2234
.. Southern Ry pf 5994
10 Standard Milling rts . 6tt
7 Studebaker 10714
4 Studebaker rts 2?4
.. Stutz. Motor 113
4 Stromberc Carb 7354
3 Superior Steel 42
.. Tenn Cop & Chem .. 1054
10 Texas Co 376
. . Texas Co rta CO
.. Texas & Paclflo 4054
. . Third Avenue 13
0 Tobacco Products .... 7854
7 Tobacco Products pf.. 9914
Transcontinental Oil . 4594
fi Trantue & Wins Steel. 01
.. United Cigars pt 11054
United Ry Invest ... 854
6 Union Bag & Paper . 92
.. Union Oil 3054
10 Union Paclflo 125
1 Union Paclflo nf 67
1 United Alloy Steel .. 6054
7 United Drug 138
10 United Fruit 193
.. United Ry Invest pf.. 17 54
.. United Retail Stores . 8734
. . U S C I P & Fdry . . . 20J-4
. V S Lxpress 23tt
3 U S Food Prod 73
BUS Itid Alcohol 10054
8 U S Rubber H8J4
0 U S Smelting R & M. 74
100 3.50 U S Smell R & M pf. 48
34000 5 U S Steel 10354
400 7 U S Steel pf 11354
4800 Utah Copper 7154
300 .. Utah Sea 1054
1100 4 Va-Carollna Chem ... 6354
300 .. Wabaah 854
900 .. WabasnptA 2154
300 . Wabash pf B 1654
2000 4 Westlnghouse B & M. 6254
1200 .. Western Maryland ... 11
400 .. Western Paclflo 31
200 4 Western Pacific pf ... 55
100 7 Western Union Tel .. 87
3100 1 White Motor 65
1000 .. Wheeling &L Erie .. 1354
200 8 Wilson & Co 75
C800 ' 1 Willys-Overland 29J4
3100 . . Worthlnglon Pump ... 83
1000 0 Worth Pump pf B.... 70
10' . . Wells Fargo Exp .... 6034
300 8 Woolworth F W 131
103
67 54
60J4
26
87
9554
100
1133
8454
93
19 94
100
100
74
79
62
96
1334
7434
8
1554
31554
69 54
1154
1354
4554
9154
21954
2ltt
69?4
6K
10534
394
110
71 54
43
0ft
273
59 J4
39
1354
7854
0854
43 54
6054
11054
854
90
3554
12354
07
50
138
193
1754
8534
2054
2354
7354
m
11534
73
48
103J4
11354
7034
1054
olft
8
3454
1554
5ls
11
3054
65
87
.03
1154
75
29
7754
70
5034
120 ft
7fi.1,;00 shares, couiparedwllh 1,451,000 uharcs jesterdoy. Thus far thl week", 8,202,000 shares.
83 54
1354 454
3354- V
12 - 54
301 4- 1
173 4- 3ft
40544- 54
2654- 54
37 54
C44 I
so - 54
0434- 354
188 - 1
21(4- 54
8434- 154
4954-
13 ..
80
nft 54
1334- "
2334 4- H
4034 54
66 1
4354 ..
36 34
lit- 254
63 ft
10334 ft
1154- 54
78tt 54
8054 254
854- !4
1434 ltt
116 I- t
70)4 154
2854 54
17 54 H
12-1
9534 - 54
7934- M,
61-1
72 254
47-54
9 54- 54
35ft - 54
6594- tt
73 - 3
co - 54
36 - tt
54 I- 54
9954- tt
4394- 154
41ft- 54
ao 114
23
72
10454 ..
1854
103
67 54- 54
8954 ..
2054- tt
89-1
97
100 ..
11354 154
85 94
S3 54- " !4
1954- tt
101J4 54
100
75 54 I- tt
79 - 1
63 - 354
98
1454
75 4- 1
8-94
1554- 94
210 ?4
69 54- 54
1554 tt
13 54 .
46 - tt
93 - 14
31954- 454
2294 tt
3994- 3,i
o?4- 54
10594- 394
334 54
11034 394
7354- 94
43 54
oft- 54
273 - 354
60 - 1
39 - 454
1334 - 54
7854- 94
98ft- 54
4354- 3
co 54- 54
11054
854- tt
90 - 2
3654 54
12454 154
07
60 ..
138
103 154
1754 ..
8734 51
2054- 34
2354 ..
72ft ft
100 .
11854 154
7454
48
10354 5's
11354 ft
7054- I
1054 . .
1354 154
854- 54
24 54- 54
1554- 2ft
1254 54
it
31 - 1
as ..
87 - 54
65 1?4
1254 4
75
2954- M
8054 154
70
66344- 54
120 ft- 3ft
Saraa period
The local market showed encourag
ing comeback qualities nftcr n dis
couraging weak opening, the more strik
ing fcaturo of which wns tho mnrked
expansion in (he volumo 'ot dealings
when the market took tho upward
trend. The floating supply was llkn
ttic iounu to bo greatly reduced,
which made the recoveries shnrp rind
decisive.
Things nt the start looked most tin
't'Til? ?'nK!, ns tllorc wnB evidence of
!'r'bbIIK liquidation in nil parts of the
1st. Jhe offerings were small, but the
buying demand was seemingly very lim
ited, resulting in a general concession
In prices. United (ins Improvement
nnd Union Trnction cqunlcd their low
prices of the year t 52 and 7. re
spectively. Four flnllnra wno ,.1!,,!
off General Asphalt common on a verv
smnll transaction, carrying the price
down to 303. Lake Superior shaded
under 20.
llio second hour witnessed a wonder
ful trnnsforinntlnn in hn nilM .
plexion of the market. Klcctrlc Stor-
irVA . ,V. )CU. ott witn a rebound of
JH.GO to 1ST. American Stores jumped
Ol to 41V. Lfllfp Snnnrini. ,-ne ...-
fried back to 20 j United Gs Improve-
, , . """" cenis to iixy,, nnd Phil
adelphia Electric renehed 1M.
The week's transnctlnns wr m.
paratlvely moderate nnd tho lowering of
'i"""n wus uue more to tlie extreme
nnrrowncss of the tnnrtnt n ,....n
of. the greatly curtailed buying power,
ihc declining movement, furthermore,
wns entirely influenced by outside con-
MIKTIIKIIN NATIONAL llNK
aldsraJ, and no bid will b milertalii.d u " i Tho Annual )1tltlar ?f the Htockholdcrs
lfsa maDB on primru
,tor that purpose.
. All blda must
'Uncat jrom me .iiy nouciior that security
risl Dteii 3urninca in accordance with the
provisions ot the Ordinance of Councils, ap
proved May 25, 1860. Bids are Invited, sub.
Jeel to future appropriation by Counotls.
The Director resarvea tho rlht to accept
,tiy pfopttl I" whole or In part, or reject
all the bids, as he may deem best for the
t..fvatH of the city When u hid nr ,..
irate ol bids exceeds the sum pf loo, it win
p? peeessary for u contract to bo entered
tstabllehed In builnejs for which proposals 'trSr"
are aelted, will not be entertained or con- '-'
inlcd blank forms supplied of the Northern National Bank wlu be held
ouppuca oj " iJunklnie House, on riiejiliiy, .lununry
be accompanied by a cer. 13, 1920. between the hours of Urn. nnd S
City Solicitor that security " .. tor tha election of twelve (1L-) Dlrec-
lAlso to vol" for an Increase of Capital
SlrVck; from. 1200J100. to 1400.000 by the
issulns of 2000 shares at lino per share, of
which sum 1100 shall be added to Capital
nd ISO to Hiiro'"" Account
- President.
tr3v'r,,K ANNUAL MKKT1NO 111" TIIK
&rT.tM, sww iSirsTKlSSTSSS
i ttMTIIU'n T.-Tt UlriK- r
l.llfJ14 11. 4'll L. 1 ,
plrt'Clur of the TJepartmfnt
ROPQ!M- foil SAI.K Of UU1MJIN03
r AND KIXTUHEB Bald yropoal for
th bulla. iff. fixture, etc.. lor in uw
I iwCUrptCBCVfUb HUlUi
X,. 'will tM recti vd
Z. "T i il'ansH m im- .....17.
i)skascnnir a miu. or in uuiirietsi
r.7w..'-'irw -TAv. -."" rr"7- i
n Hwr -unarm r
I, 1010.
IrisT
ill CoiiVftltictut WaiplUl, Lawrence-
t. J., "will d
a
.,, MirtBiiit
ot later than
uti
LOVtB OTTO llnttAND,
Hecretary
USE1"'!'' ANNUAL MKKTIM1 OF Till',
Sy stockholders of the (llrard Water Co.
will be held In llooni.M7; Lafayette llulldJ
Inr at 3:30 p. m., Thursday, December 4.
Secretary,
BUTTER, EGGS AND CHEESE
Srvr Aork,. Nov 2ft.. BUTTER firm. Re
cflptB. 78,, tuba Creamery, higher than
extiaa. Tit74AC xtr. tii'2 oorV 7r.U
flrt-U, 2H C72c. paolclo lock, current
1 1 in nr, 41". ., iivwI'WTlVi
EOOS Arm necelpta 10,431 cases. Fresh
fathered extras. 89084c: fresli-Rathercd
"xira nrsie. nnu-n.cj iresn-irainerea firsts,
foiuvfvci staie reunsyivsnia and nearliy
western lienitery whites, tin to fancy, 11 0
i u, siiii.. f eiiiisyivania ana iiearoy hen-
npry Kyur. wrumary lo prune, ftifuni" uo,
brown, 8H0Sci do. gathered brown and
mixed oolors. h3B4r
CHEBHB easy Receipts, 10SI boles
Slate. whlnllk, flats, current make,
specials, 8!'i ,18c; flo, average run. ali
' atate, whnle-mllk. twins, current inak"
specials, alt (S5c; dq. average run, 31c.
BAR 8IUVER
Commercial bar Mlver was d
lower in iionoon tooay, at til
The urlce in New 3Tork wn un
changed, at $1.20,
FORE'GN EXCHANGE
New Yorli. Nov. '-'9. The foreign
exchnnge market opened very weak with
btcrling helling within three-quarters of
n cent of the low record. Other ex
changes also weie quoled close to the
low records.
Quotations were :
nemnnd sterling 4.00. cables
4.0t1R ; franc cables 0.78, checks H.80;
lire cables l'J.23. cliccks '2.'i Swiss
cables Ti.-ltl, checks fi.48; guilder cables
n8, checks Hi 'Mi pesctus canies ni.7f,
checks in,."; Stockholm cobles '.22. 50,
checks 2'J.:i.ri; Cliristiuuia cables 21.70,
checks 21.fi.r; Cooenjiagen cables 20.1.",
cheeks 20 ; Belgian cables 0.H0, checks
D.:i2 ; mark cobles 2..TT, checks 2.:i."i ;
ruble notes ;s,7U lor nuus and -l.o for
100s.
Shortly before midday sterling fell lo
within V. cent of the extreme low rec
ord, touching a.OOyt. Cables nl.o
verged upon the )ow, nt -LOO'r., French
ehnnirp htruck a new low record at
0.81 cables nnd 0.83 for checks. Lire
were quoted at 12.20 for cables and
12."r lor cnecKE. iuiruuuu jvruuueu
receded to .70.
Philadelphia Stocks
Net
Close chge.
ro ..
u ..
HlRh Low
OriO Am Strs. 41 V 40
H Am Gas. 50 50
20 Am Mill. 0 0
10 tAm Ilde
& L pf.linij llflK- HO'j 1H
5 Cam Irn. no 30 :10 . .
00.TK1C Stor.1,'17 13?, 137 5
12 Gen Asp. 103 103 103 4
25 I C X A. 35 33 35,.
1270 I.k S Cr. 20 10 10
50 r,eh Nav. 02). 02 021
142 Leh Vul. 42 40 42 ij
50 fMidvale. 4!) 40 40
100 tX Y N
H . II 28 28 28
000 Pa It It. 42 41(6 4S 5
200 Ph & W
pref ... 20 20 20
20 Pli Co pf 25 25 25 2V-
180 do c'm pf 32V .2 32 1 "
500.PhiI Klec 24 24 24 U
408 PUT tc 20is 25 20--2
135 tlteading. 75 74 75 --
135 Ton Tlel. 2 "V, '... il
100 Un Tract 37 37 37 .
4-M.I U U 1.,
MONEY-LENDING RATES
PIIILADKU'IIIA Call, 6 per cent;
time, per cent; commercial paper,
threo to six months, 5 per cent, and
six montliB, rj(SC per cent.
LONDON Money is quoted at 4 per
cent. Discount rates, short and three
mouth bills fiSD per cent.
Reserve Banks' Discount Rates
Official discount rates at, the twelve
Federal Reserve banks Were ns follows:
Gov't paper
16 to DO
15 days daya
i
Poston
New York
Philadelphia
Richmond . ,
Cleveland
Atlanta ..-
Chicago ..
St. Louis . .
Minneapolis
Kansas City
nsiiss i
San VciDtUm
Com'l paper
10 to SO
15 days days
. . 4 4"i
. 4V!
j
' t
4UOS
5
IH OB
i.i
3u
4
4
4
- 4
. ft'Ji H2V. 52
70 TU S Stl.101 101 1011Vh
10 tUtah 0. 70 70 70-
,,'l a1" 9""9 "hares, compared with
14.53S shares yesterday: this week. 44,174
shares; last week. riS,O70 shares.
Pilea In
II ooo
nONDS
Hlsrh Low
Net
chire,
i
1 City 4s '47 07 1)7 1)7
Vj do 1015.. 07 07 07
-. il fX 1 CO
Tr 4s ... 03 03V. C3V.
5 Int Han Tr T"
4s.. 14 14 H ..
u Lk Sup inc
5s 02 02 02 2
1 Leh Val Os.100 100 100 U
n.f 1 IU T1..-.1.,
uw mu nuiiun
4th 4is, lll.no 01,50 01.50 .24
Vlc.48... 00.02 00.02 00,02 ,1"
1'hila Eleo
1st 5s
01 01
Ol I.
7PH&;V4s07; 07U 07 't H
U R))HU.fVlU i
Cs 00 op 00 ft
tolaV aales, J2,B00, rompared with 18V.
w.k.yS5"wl J'-elj- "'-200' '"t
RAILROAD EARNINGS
Increase
ri12.497
2,7311,0117
'J.H8I1.0I
18,022.1)78
.1.218,000
4,318,030
700.030
77S.S6B
3,781,783
5,2111,550
5,787,328
S82,49S
350,072
B29,I1T
(298,510
i,01ll,52
2,211,700
NTAV YOK1C CENTRA L
1810
October cross 20,205.R72
Palnnco after taxea. . 0,582,50
Net oper. Income.. 5,500,515
Ten months' gross ..253,210,042
llalance after taxes. . 41,787,1108
Va, nn.p Inrmn.. 41.S7S.41fl
NORFOLK AND WESTERN
October Kross ,7,460,600 J668.851
Balance aftor taxes. . l.iaz.iss
Net pper. Income.. 1,150,602
Ten months' urosa... 03.482.042
Balance, aftor taxes,. 0,017,8(14
.Net oper. Income.. 9,277,233
LEHIGH VAt.LEY
October eross ,. 0,2IO.02n
Ualince after taxes.. 4B0,37K
Net oper. Income.. 529,528
Ten months' cross... 53,379,887
Balance after taxes.. S.313.8.1H
Net oper. Income. . 3.292,038
NEW YORK. NEW UAVEN ANp 1IART-
ruiiu .
Octeber (TOSH .......110.840,703 1093.835
Balance after taxes,. 1,002,702 035,034
Net oper. Income... 1,257,855 445,008
Ten months' gross., 87,075,144 2,019,807
Balance after taxes. 8,310,615 3,901,742
Not oper. Income-.. D. 618, 833 3,227,505
CHICAnO AND NOtlTIIWEHTHinN
Ootober Brosi (14,252,588 1370,157
llalance after taxea. i 2.400.850 014.882
Net oper. Income,, 2,444,017 812,220
Ton months' gross,, ,1111,80.1,240 11,001,718
Balance after taxes... 14, "92.153 1,036.789
Net oper. income,. 13,1773,333 022,731
CANADIAN PACIFIC
October cross S18.290.652 12.613:87:
Net after expenses, 5,847,781 261,946
Ten months' gross, . ,142,68.B24 15,772i8nil
Net after expense, 28,401,018 108,145
BALTIMORE AND OHIO
October gross ...... 118,917,708 S50.7U
Balance arter taxes,, .i.iisi.aia
Net oper. Income,. 1,531,457
Ten months' gross, ,,151,527,691
Balance after taxes., 6.987,980
Net oper. Income,, 4,709,781
Decrease,
4.002,976
3,495,203
8,224,448
1,584,540
2,245,219
Prices on Paris Bourse Heavy
Paris. Kov. 20, Prices were heavy
on the Bonrso today. Three per cent
rentes were quoted nt 00 francs 5 cen
times: exchange on London, 30 francs
38 centimes ; 5 ner cent loan, 87 francs
70 centimes. The dollar was quoted nt
V francs 70'a centimes,.
Charters Filed
Doer, Del., Nov. ,20. Certificates
of Increases In capital Btock filed here
today wore as follows: Sterlta Oil
Co., New Torlf, from 510,000,000 to
$20,0Q0.OOO, tTlio Pry Docks and Phlp
uepairs uorporuuon, or. i numiciprua,
from f 5,500,O0Q to $10,000,000. v
LOCALS CAME BACK STRONG
IN THE FINAL DEALINGS
Much Reduced Supply Found When Efforts Were Made to
Rcbuy Stocks Sold at Opening
dltlcns nnd with no connection whatever
with local tleveloptnfilts.
Dribbling liquidation apparent all
throughout, the week In n number of the
local shares, which heretofore were re
carded ns semi-Investment propositions,
wns at times dlfllctilt to comprehend.
More so perhnps ns there wns nothing
directly or Indirectly that could possibly
miitei'liilly niTect tho intrinsic value in
any ot them.
In some instances perhaps such sell
ing was Imperative In order to protect
impaired marginal accounts. The sell
ing, however, hnd not the earmarks of,
urgency, but rather suggested auto
motic feeding out of stock on the, mar
ket without unsettling tho general
equilibrium. v
Somebody, of course, had to tako
them: nnd there arc reasons for believ
Ing that the bulk represented outrlghttf""
purchasers, which meant a gradual out
significant 1 eduction in tbo market
floating supply of these issues.
Thero has undoubtedly been a great
deal ot what is sometimes called Insti
tutional liquidation. The extremely high
money loaning rates has influenced many I
nf thf tnnner lendlnrr inatltiitlnna in ' 1
liquidate much of their investments in
order to givo more active nnu profitable
employment to the same funds. There
is a big demand for money from nl
most every quarter of the globe, and
it is up to the loaning institutions to
supply It. which they nro endeavoring
to do. This means tho selling of se
curities held and other investments and
which accounts, in a measure, foi the
constant supply of many of the homo
stocks on the local exchange.
FURTHER GAINS MADE
IN MARKET FOR CORN
Demand Induced by Fears of
Railroad Embargo Against
Grain Oats Rally"
GRAIN BELT WEATHER rOriEOAST
rlilcnxo, 'Nov. 29 Illinois Unsettled
and much colder trfnlirht, with rain north
turning to snow, cold -wave; Sunday cloudy
and colder.i Missouri, North Dakota, Poutii
Dakotn, Nebraska nnd Montana partly
clrtudv tonlrttt and Suntlav much solder.
lsconsln Snow and colder tonight, cold
wave eatt: Sunday cloudv nnd colder.
JllnneRota nnd Iowa Unsettled and colder
tonight; probably anow enst; Sunday cloudy
and colder. Kansas Fair and continued
cold tonight and Sunday. Wjomlnc Un
settled tonight; Sunday cloudy and colder.
Chicago, Xov. 20. General buying
of corn bv commission houses caused
further advances in the market this
morning.
Tlio demnnd was induced bv fenrs of
a railroad embargo against grain on
account of the soft coal situation, as
wcu ns iy unsettled weather nnd addi
tional gains in live hogs. Shorts were
nervous nnd sentiment was bullish.
Some lending operators wero inclined
to be cautious, as quotations have ex
perienced a good urrrurn nnd any im
provement in fuel conditions will ho
considered against values.
The receipts here today were 227
cars,
December opened at $il.373,'. against
$1.30 at tho end yesterday, nnd
moved up to $1,38. .fnnuarv started
at Rl.33 to $1.3-4, against .$1.33
nr, rue ciose yesterday, and inter sold
nt $i.;(i'j. -ny was quoted at $1.3,,4
to i.;iii a
at .$1.33
Oats started easier on scattered sell
ing, but quickly recovered nnd sold nt
a premium over the previous close.
There -was some selling of December
enrly by recent buyers. Houses with
weRtcrn connections purchased May.
The receipts here today were 144
cars.
December opened at 74 to 73c,
against 74c nt thn close yesterday,
and later sold at 74,c. May started
nt 77 c to 77c, against 77c at
the end yesterday, and later sold at
77',i!C. .Inly opened nt 74 Vic to 74c,
against 74c nt the close yesterday,
nnd later sold ot 74iJic
The receipts of wheat hern today
were 74 cars, at Winnipeg, 440 cars;
at Minneapolis, 300 cars, and nt Du
luth, 0 mts.
Lendlntr futures ranged as follows.
Corn (new delivery)
upen tiicn j.nw cion
1,37 1.8U .135 1.S.V1
1.ns, 1.9.1 1..11 1,31't
1.33 1.33T4 1.30 1.30?
COTTON PRICES MOVE
IN A NARROW RANGE
Week-End Covering and Spin
ners' Callings Induce
Steady Undertone
COTTON BKLT -WEATHER CONDITIONS
New York. Nov. 20. Thi following
temperatures wore recorded In tho cot
ton helt thla morning: Oklahoma City,
24; Abilene 30; Fort Smith, 118; sarr An
tonlo, 40; Rhreveport, 42; Corpus Christ),
40; Atlanta. 48; Little nock and Wil
mington, 50 Chnttanooirii, Knoxvllle and
Augusta. C2. Memphis and Vlckshun. Mi
Oalveston. GO; Charleston and Savannah.
tiH; Jacksonville, (14; Tampa and Thotnas
vllle (ID; Montgomery, 08; Meridian and
I'enaacola, 12. and New Orleans, 74
December
January i
May
uata
December
Mav
rorlt
January ,
May
Lard
January
May .....
nibs
January ..
aiay
73,
77
1 71H 734
U 77H 70S
.. .... 34.20
..82.40 32.90
73j
70S
33.70 .11.20
32.30 32.00
23.35 23,05 23.70 23.70
..18.70
. . 18.20
18.70
18.20
lK.fift
18.15
18.M
18.15
DIVIDENDS DECLARED
Atlantic. 'Gulf and IVost Indies Steamship
Lines, semiannual 5 per cent, payable Feb
ruary 2 to stock of record October 30,
Todda Shipyards Corporation, quarterly.
$1 75 a share, payable December 20 to stock
of record December 8.
There was .02
Corpus Christ): .06 at Abilene, and Gal
veston: .08 at San Antonio: .10 at Knox
vlllo: ,20 nt Chattanooga: .42 at Okla
homa; 4A at Nashville; .80 at Memphis,
and 1 98 at Little Bock
New York, Xov. 20. -The cotton
market kept in n narrow range
throughout the session, with the trade
npparently nwniting developments in
the coal nnd Mexican situation.
There wns sufficient week-end cover
ing and spinners "calling" lo furnish a
generally steady undertone, and there
was comparatively little speculative long
liquidation.
There seemed to be a confident feeling
thnt the threatened strike of New Eng
land mill operatives would bo averted by
n satisfactory adjustment, possibly
through the granting of a, bonus by the
mill owners equivalent to tho increased
wages asked for.
Close
37.00
na isini-M
Mcll.. 33.88 33.00 34 15 31.70 34.10&15
May. 32.00 31.01) 32.24 81.83 32.12lfl
July. 80.115 30. (i.l 31.0.1 80.50 30.02005
Oct. . 27 75 27.70 28.25 27.70 28.25
Test, close Open High Low
Dec. .17.0.1 37.80 38.10 37.50
NEW YORK COFFEE MARKET
New York. Nov. 29. Continued
weakness in Brazil led to renewed
selling in tlie coffee future market at the
opening this morning und first prices
were 18 points lower for December and
25 to 37 points lower for other posi
tion. While (he local selling seemed to be
a little less active after ,thc recent
sliurp break, housps with Kuropc'an
connections appeared to have a good
many telling orders during tho early
trading. These offerings were taken
up at the decline by covering and trade
buying nnd prices ruled steady during
the middle of the morning.
Thero has been no confirmation of
yesterduy's repprted failures in Santos,
but the Brazilian markets were all de
cidedly lower this morning. Shippers
in Urn7.il are finding it difficult to
make firm offers, fearing' that condi
Vons might change before acceptances
could be received' null are asking for
bids.
Test
close
14.7R
14,70'
14.20
14.20
14.40
1.4.55
14.70
14.70
14.80
Sept. .
Oct . .
Nov. .
Dec. .
Jan. .
Keb. .
March
April .
May
Juno .
July .
Auk.
Bid.
Open
...14.45
High
11.70
Low
14.45
Close
14,70
11.70
14.02 14,10 11.01
14.33
14' 50
iV.is
1 1.90
14'. 82
147,6
14.10
14.30
14.45
14,50
14.65
14.72
14.78
14 55 14.85
.... 14.77
14.32
14.50
14.8ft
14.8H
14,78
The Tenth National Bank
1641-43-45 N. BROAD ST.
Philadelphia, November 17, 1919.
RESOURCES '
..Loans and Investments , , $3,890,336.55
Exchanges tor Clearing House , 165,878178
.Due from Banks ' 170,79035
Cash and Reserve , 463,698,65
LIABILITIES
$4,680,699.78
Capital i
Surplus and Profits k , . ,
Circulation , . .,
Bills Payable, federal Reserve Bank, Secured by U, S.
Bonds ' ,
$300,000.00
202,832.24
192,695,00
975,000.00
Vv . f Liberty Loan .,..$ 23,625.00) fl, rt- n .'
DepOSltSU.S. Government. $ 70 512.95 $3,010,272.54
(.INDIVIDUAL ,.. $2,910,134.59) '
$4,680,699.78
JOHN F. J3AUDER, President. EDW. A. MURPHY, Vice President.
HERBERT L. SHAFFER, Cashier
tTttmiiiuni"i""i"nmiiliiiiiiiiiimiiiniiniiiiiiiuTf
Brown & Clayton
Brokers in Commercial Paper ,
316 PHILADELPHIA BAK BLDG.
Announce the Opening on December Ut, 1919,
" l of an Office fit , ,
180 BROADWAY
NEW YORK CITY
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