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20
EVENING PUBLIC LE)DQER PEflLADBLPHtA, THURSDAY, DEDEMBER 4, 1019
h
n
-J .
i
i
w
"H;
1
I
1
to.-
S&r
French Government
Internal Bonds
4s and 5s
, The facilities cf our
foreign offices enable us
' to give complete and
i rom$t cable service.
The present low rates
of exchange afford in
teresting opportunities
for the purchase of these
securities.
PYMGHOH & CO.
Jfrm&tra Xtia York Stock Errfianw
111 Broadway New York
1 Drapers Gardens, Tbrormorton St., E. C.j
, LONDON
K 12 Exclinie BIdii., Z0 PUce Vtndome
LIVERPOOL PARIS
Offices in and private wires lo
important cities of United
States and Canada.
NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
RECOVERY WELL SUSTAINED
BY CONTINUED COVERING
1 NEW YORK STOCK EXCHANGE TRANSACTIONS 1
Menacing Mexican Situation Offset by Easier M,oney and Rally
in Foreign Exchange
Xen York, Dec 1 The recovery
movement was well smtnined in today's
stock market a a result of the con
tinued adjuslmcntifOf the technical ro
Mtlon. Xo better proof of the highly
professional iharacter of tlic current
movement was needed tlinn in the com
plete indifference which was ohnnn to
ward the threatening Mexican situation
bone of the market, which was ap
parent In moit directions in which
prices held, but It was perfectly obvious
to anv one that there wan uo great
tuh to cover, a cin umstnnce which
was explained undoubtedly by the
Browing unceitninty of the general sit
uation Then, again, the market was
not without weak spots. To the, ton
and the crowing complications in tlieitrnrv. especially in the leather issues
soft-coal labor c-ontioveisv . 'and' some isolated specialties, it wrs
These adveue influences, it is tiue. ,'lecidedlv soft,
were parti (ouutcrbalanced bv the H-w thauges of mnie than minor im
moderate tnlH in foreign exchange and P01 tnm'p '"'"irrc'd .at the irregular opon
the continued npp.ii cut eesler tenden ' "K- Coins outnumbered rccesions.
cies of the mnnev rnnrtet Tn whirl. , however. Klilppings. oils, and copperb
tould be supplemented the sharp u.. showing most nctlvitj HVAwXli?
roverv in me i.iDerty Ifomls
It was obvious however, as the dm
progressed, that conditions within the
tmi'ket itself, latliei tlinn outside fac
tors, were the governing influence lu
i other words, other than in thoe qunr
ters of the list where the belated cover
ing of the short interest encountered
moderate pressure on further curtail
ment of transportation facilities ow
ing to fuel retrictlons
r.treme advances duung the morning
of '2 to 0 points in the leading motors
and oils, mid 1 to I points in shippings,
tobiKcos, textiles nnd food shores were
nccepted as additional signs of an over
extended short interest, jtaiis anil lea-
&
Foreign
Internal Bonds
Due to the present rate of ex
change of foreign countries trt
Interna) Bonds of those goxeni
mentn, may be purchased nt ci
low prices, when figured In Oollais
French National War
Loan 5
Bonds
may be purchased here at the late
of about
1,000 francs, par value,
for 93
Further particulars furnished on
request.
Edward B.Smith &Co.
BANKERS
ESTAUMSUIJD 1S9I
tfemorr Ittio Yorls and PMladtlHiia
Stock Exchantt'S
riULAIrtCt.fHIX
JUL clii.tiiut t-t.
NEW YORK ,
NEW LONDON
rxsTos
M.I.KN HIM S
a restricted siipplv nt MorKs the trad- i ,.,. ,,. ,h nni, iinrknr(l shares.
ing was conspicuously sluggish in s-ome hi(tp , ,onti,cr preferred losing fi .
ins nnces and others notl.eablj forced poin(s (.a ,oai;s opcn(,a ut 0 p(?r I
and artihcial ((,nt )ntprjor banks making free of- .
Consruatue (market interests made , irtings with local institutions at that
no hesitation in declaring conditions ,1,.
and circumstances weie far from following its lecent course the mar
prcipitiuiis for n icstiniption of bullish 'j became almost stagnant at midday. I
opeiatlons cm on extensive scale. The I'riicrc were mnnv additions, however, I
bulk of the commission houses cithei to (np Htrong tone of the morning, not
openly advised orotit-tiiking on cverlnl) among steels, ciniipmcnts. sugars,
rallj or (.uggested the outright buying, i silj,,pul, nmi tobacco Kails were the
in order for the purchaser to protect ()nv fXOOption. fuithcr reactions oc-I
themselves against unforn en ace idents ( (mn . )1)nt )v isinn
which arc likeh to crop up because of i .,,,.. ,im0 ngninst the shorts, cs- I
the unusual tnnrKw ttmitinji existing. , ii, nnd steel-, marked a'
The Hrge shoit mteiest. as m the pc" ... ,. . ,i,(, n,st hour,
I r nni"
Vn i cdinp .'csvtnn fni inched tlio bncl
EASIER MOO
PUIS STOCKS UP
Philadelphia Slocks
chscc
r,o
Wo Offer
Bonds of
The Borough of
Ridley Park, Pa.
Tax Free in Pennsylvania
Duo September I, 1943
Option September I, 1923
f rice: to Net 4.25 Per Cent.
to 1929 and 4.50 Per Cent.
Thereafter
fir.
ft
?
Biddie & Henry
104 SOUTH FIFTH STREET
High grade, long term
Investment Securities now
selling near panic prices
We recommend buying now for
higher prices
Offerings Submitted on Request
Carstairs & Go.
' Members FblladelpMa nnd
Ntt York Stock Kxchanicpa
1419 Walnut Street
71 Broadway, N. Y.
Wtt Pfjin Tonfr fin. 11SH
Mrtropotltiin Fillson Ss, 1:
fmmiLt l.t. & rr. B. lt)J
TnMalMna Ry. & l' t II. b. 1DJO
Fennm. R. R. r,rn, ? 1(163
rinji. K. R. Cm. Bs, 1DS8
Jtmrttonn, Trank, i Clcarfltld in. ISM
HEHRY D. B0ENNING & CO.
stock Kxci!aic nuiLDiNn
Direct 1'rlTate Telephone to eiv ork
Jlfinbers I'WU. Htoik Eichante
Techniccil Condition of Market,!
Rather Than News, the
Ruling Factor
SUPPLY MUCH REDUCED
Xen YoiIj. Oec - The New ork
T,ening Sun's c'osing fiuaivial ieicw
lodai says:
There Fcemed to be even moie de
terminntion in the buying movement in
tod.-n's .stock market than in jestci
dny s, although trading was' of modest
proportions and mainly of juife-sional
inspiration. Continued ease in inotiej
-call loans again renewed at 0 pci
,(,,,( nn,i n distinctlv better tone in the
foreign exchanges couti ihuted no doubt,
ton aril improvement in sentiment, but
it a? nnparent that the technical con
dition of the nniket lather thau unj -thing
in the wav of news developments
was the ruling factor
The floating sUppl of stocks has
been mate-hlh i educed this week, and
that at a time when the short intcicst
was supposed to be very large and when
the feeling that the mniket hail been
oversold was widespread.
It was fcarcelj to be expected that
those who had not alieidv sold to cs
,,.v,iii, lnein,. fnr the federnl ta return
would rush to do so now in view of
rising prices and of the fact that near
ly four weeks remain in which much
may happen to give them a more favor
able opportunity , ,
Discussion of a likely clash with Mex-'
ica and a lecrudescencc of the court
fight in tin. coal strike have become too
familiar topics to be as distmbing per
haps ns thej should be. The new nnd
curious twist to the coal wage matter,
in which the operators were credited
with a purpose of giving n bigger wage
increase than the government required
ot them, elicited no little astonished in-
1"ln . . , I
Mr Wat burg s disruiition on stock
exchange loans as secondary bank re
serves nnd trcasinj certificates of in
debtedness as tjing up bank's funds to
the detriment of business development
through the medium of the bank accept
ance was pondered with care and gave
i onsiderable food for thought
In a period when the technical posi
tion of the market was less souud than
it appears to be at present these things
4.. -M probably be more potent influence
in guiding stock prices. As it was the
list continued to advance with fair con
sistency after n more or less mixed
movement in the first fifteen minutes
or so. . ,, ,
Shortlv after midda.v there was
nrettv pronounced strength manifested
in virtually nil nuarteis. The Steel.
Popper, Motor. Oil and Sugar groups
gave a particularly good accountt of
themselves. Marine common niid pre
ferred were well bought on the strength
of leports of a possible extra pa.v merit
on the preferred and the consequent
nearer approach ot the common tn some
sort of disbursement The rails did
very little.
3(1
.-.1 i' -
i:;7 i:iTVi-i ,
17" !"
170 Am Strs AUt
,"2I! Am tins Ai
."0 tAm Hde
& I-th "0
Jl." T?nll .1 i "'-
nit; r.i stor lofty.:
101) fi:rn . 1"h
1 t; Avi nf !"
Jl Giant 1 C "i
100 do pref 'JJ
Itltl 1 f N A :-Vs
,,7." Ke Tel. U
s.al T,k Sp Cp -')s
."'JO T.eh Xnv. O'J'.j
410 h Val l".Vt
111(1 hr-e U.'l' "t"t
17Miuehill. -il
id Vorlb Va S1's
2.", IS Pa K U. AVi
,- I'a Salt . 7S
SO Philn C-o
cum pf "-'a
U70 l'hil VMc l3i
tfJP II T to JC
71 I'll Trac. O'J
1110 tSo 1'..' . O-'1!
.-(I Ton M'm -':
lit l'n Trac .'!7V-
J'JOO l" i 1 fi'-'A
i- sin int
sT.i chnnci- micle I" coniPRrlson with last
Mle n New York Stuck I.xcliance
Sales in ' ' ' .a
jiocmi mh t
J Am as v
nee ns. . . S3
1 Ilald Loco
1st Tis ...lOOVi
flCttv -Is '41 07-T.
2.1 Cit Is 42 Oil Vi
ir.cit is '-u "I1.-
20 Int Tljs Is ..0
2 I.k Sup inc
)S c
8
11
01 T.
42Tf,
:UV.
ni
Sl'b
41 Vi
78
r,2ij
24r!'s
20 Vj
02
O.-iH
7'i
li 1
200-;
(12 'j
V.'.
:4U '4
r.i .
8l'(.lV2
tllj s
7S 1
M2'... 'j
24 si, . .
2074 . .
02 .
nni, r'K
.171.4 4
V.
101 10t
lU
Nel
chs
too u
07:!i
07 Vi
07 j
yo
01
Cloi-e
s:i .. '
100',..
07 -U.. (
!)7',a 'i
07U, Vi
::o n
r.i i
1 I.eli Val Gs.lOO's 100, 100'S
1 Leh V gcu .
4Vjs .. "i'i "'t ''i
0 M V gen
4s 091-. 00't liOH'
00-10ure0smIi.2.r,.n2..-ioo2.r.o.2o
H Vie t7is 09.04 09,00 09.044-.02
' Xat I'i op
4-0s . . 31
0 l'n & Mil
Steel 0S..100
20 Pa gen 4'As 8OV4
2 I'a gen .Is.. 90
11 3-10 I'h Elec
1st T.s .. fiV-i
0 Pub Sei v is nn
4 Head gen Is 80
1 SchuvlUill u
B S Is 90-s
CITIES SERVICE COMPANY
BANKERS' SHARnS
Monthly Distribution No. 10
Rnry l. Doherty t Co announce tint
eiAr tnth Monthly Distribution on Citia
f? , Service Company I5anUcr8' Shares, paable
1 . ! jAnuary 2a. l-. ' Jlankcra- Bliarea of
'VW T..mKr IRth lOlfl ..III l.n Jfi 1
recoil .,.... -..., ...- ..... .w .
nte on each Bankers' Share
.14
100
'90
no
nn
7!)7s
!)0r'M
-I1,"
r,4 ..
100 ..
70',. Vi
00- t-2V2
OR 'is
nn
79Ta '8
OOf'i..
Salro
401)
201)
(
4nn
110
:ion
io '
IffUft
100
Jiano
100
390
100
4190
.1(110
8190 '
a JO
too
S5H0 1
3090
100
7000
3000
too
ton
1500
100
4S00
2S0O
4100
100
100
3440
can
400
6800
too
100
3090
71)0
:i)o
2410
oo
..."ID
370)0
30 10
410
HJ0
','3 III
100
201 0
21)0
1290
2803
A10
100
300
1100
20J0
400
1201
1 1 10
1700
2510
1000
I ,-,oa
100
700
400
300
100
2000
31.011
200
300
100
J '10
101
1800
l0
200
100
4 10
Kin
100
700
4100
100
AOO
ti
4290
.-,)0
410
2BJ0
StOO
790
10140
300
3900
.100
010
1100
200
090
In 5
Adams Impress
Advance; rtumely
s Advance Ttumely pf
Ajax Ilubber
Alaska Gold Mines
Alaska Juneau O M
Allls-Chalmers Mfr
7 Allls-Chalm Mrs pf
8 Am Agrlo Chem .
8 Am Beet Sugar . . .
x Am Bosch Mngneto
5 Am Brit Shoe. & Fdry
It lull
3.V4
o Vi
711a
, 80
U
, 2't
. 3&
ri
nt?
94 H
.124?
89
Am Can W!i
12 Atn Car & Fndry
Am Cotton OH
Am Cotton Oil pf
80 Am Druggist Sjn
. Am Hide & Leather
7 Am Hide &. Leath pf
Am Ice
Am Ice pt
80 Am Intcrnat Corp . .
8 Am locomotive . ...
Am Malt & Qia'n
. Am Ship & Commerce
4 Am Smelt & Hef ....
fl Am Smelt Sec A
12 Am Snuff
3 Am Steel Toundrles
7 Am Steel Kdrles pf.
7 Am Supar lief
10 Am Sumatra Tobac
8 Am Tc & Tel
20 Am Tobacco
l Am Tobacco pf new
7 Am Woolen '
Am Writing Paper pf. fSl4
Am Zinc Lead & Sm.. 16!'a
4 Anaconaa Copper .... t&'z
Asseti Realization ... 7
Asso Dry Goods ... H
r. Atch Top & Santa Fe. &?
Atch Top & S V pf.. 7814
7 Atlantic coast Lin- .. 91
10 Atl Gulf & W I S S..174W
A Atl Gulf & W I S S pf 73
. Auto Sales C tern ctfa
. Kaldwiti iailo
. Baltimore & Ohio . .
I Baltimore & Ohio pf .
M Barrett
Bethlehem Motors . .
H Bethlehem Steel . .
." Bethlehem Steel B . .
8 Bethlehem Stl S"; pf.lt Vi
.. Booth Fisheries J3V4
.. Bkljn Kapld Transit.. J!'s
.. Bklyn TITctfsof dep. H?4
. Bklyn Union Gas . . SI ?i
Bruna Term &. II n . 7J6
.80 Butte Copper & Zinc. OH
. . Buttn & Sup Cop ...
Caddo Central O & IX
California Packing ..
. California Petroleum
10 Canadian Pacific . . .
5 Central Leather . . .
Central Leather pf .
Ccrro de Pasco Cop .
Certaln-tecd Prod .
Chandler Motors . . .
Chesapeake & Ohio .
Chicago (it Western
Chi lit Western pt .
Chi Mil & St Paul . .
rid Mil & St Paul pf
7 Chi & Northwestern
8 Ch . Northwest pf
Chi Pjicumatlc Tool
. . Chi Ttock Isl & Pac.
C Chi U I & Pac 6T, pf
Chile Copper
:i Chino Copper
S Clev Cln Chi & St L
Cluett Peabody . .
Coca-Cola
3 Colorado Fuel & Hon. 39 H
4 Colo & South 1st pf 48
1 Column Gna & Elec . 44.
I Col Graphophone .... t8
7 Consolidated Cigar . 62 14
7 vJon Cigar pf SOe
7 Consolidated Gas .... 87
Consolidated Testis . . SS'A
7 Continental Can .... M'A
. . Continental Candy ... 1394
Con Interstate Cal M. 1814
. . Corn Products Hef . . f
1 Corn Products Kef pf 1714
li Crucible Steel 21
7 Crucible Steel pf . . 100
. . Cuba Cane Sugar .... 47H
7 Cuba Cane Sugar pf . 4?B
S Delaware & Hudson
.. Denver & Rio G pf
Domci Mines
i:ik Horn Coal
1.0W
32
3914
71 'a
SSH
2!i
W
IK
93
01 U
9SK
1MW
89
S1U
13S
49
00
1194
28 W
119
44
CO
IC814
13 Ji
48
28
2 H
S3
11394
Utt
H4
133 14
e89a
89'
2X0
99 ?t
126 U
S3
1 94
IT
7
H
'
".8
91
172
199i 1814
112 2, 10814
13(4 a'2
137U
. 4
DO
. 12!,
. 30
.124
. 44
, CS
ice
. tv2
. 48
. 30
. . 8.1
. . 1139i
.. VA
. 9114
120
. . 2
. . 999i
2S0
. 99H
Today's Net
Clone Chue.
.324- 1 14
40"4 4 2
71 Vi- 9i
tJ4 2Ka
2H4- 14
2i
43544- 3J4
92 14
Ui - V
94H I- 1
12494- 24
80 4 4
S31.4- lit
137H4- 2'4
49 4- 14
90-3
n 4 li
2894- Hi I
13194- 3 5 I
44 4 14
(0 I
1C994 4- 2
1)4,14 4- 114
48 4 8
30 4 1
t!4 4- 114
8,1 14
11394- Hi
43 '4 4-
9114- V
130 4- 3'4
92 4- 3tt
J
S
114
5.
1
Dlv.
In (
Bales
190
20J0 4
200 8
200
40001. 3
800 1.20
High
1
14
. 44'4
.I25'4
. 131'2
. 8S
fl!4
, 2
. 2314
. ".7
. 4514
.I3s
. 1S94
.10814
. es94
S4
.11794
. 714
. 8'4
24
3814
U
80J,
118
10514
2S4
2
10
37 94
41
85
3914
2190 3. SO Endlcott-Johnson
.. .,c Dtvi.v l I.II1KRTY BONDS
'"" " " "-' i 1:1(1
Utah Low P IP,
Lib Honds H.Vjs 09.78 09.70 09. i2
r.i. l.n,la lot AR. . '.ll.UU IM.Ul vo.vi
Lib Bonds 2.1 4s . 02.30 91.0
Lib Ronds 1st 4As 94.20 94.10
Lib Ilonds 2d 4s 02.00 02.20
Lib Ilonds 3d 1V4B 1)1.00 94.18
t ii. u.i aci, .1Mb 01.10 02.20
Victory Notes 3s 09.10 90.00 00.00
Vietolj Aotcs 'iJif uu.uo uc.w w.w
02.00
94.20
92.50
01.44
02.00
LOCAL MINING STOCKS
TONOPAH STOCKS
Bid
0(1
cash Hon
Jim llutlei
MacNamara
Midway
Mlzpah Ext
Montana .
North Htar .
Rescue Eula
Tonopah Uxt
Went i:n'l
West Tonopah
IS
.OR
.11
OS
.17
2',
1,
10
DIVIDE STOCKS
h '?
'Hi"
I i)
Caddo Oil & net. 0a. 1930
J NerUcfttnpton I'thc. &. 1933
Purr Hhoal. l'r. lit. 1US2
Continental Motor Com. A I'ref.
.. Lehlth Valley Coal Hales
Marlon Lachenbruch & Co.
PHILAPELPHIA
una Tine ituiicnnc
HI,
42 llroail M.
Sprvci SSI Ttl. Uroad 7J0O
Mtnibers Phila, Stock Uxchang
"Have You Any
Freight for Bremen,
Germany, Late
December?"
Far Details Concerning This or Con
signments to Aug Foreign Point,
Phone or Write
Dickerson & Gaskill, Inc.
THE BOURSE
Lombard 1G39 Philadelphia. I'a.
Hpetlal Meeting
Allied Dlslde
Alto Divide
Holcher ,
Hen Ilur
Hrouirh Divide
Divide Kit
Dlvldo f-jndlcala
Ilvldo vons
DHldend
East Divide .
llasbrouck Divide
High Divide
Hevert Divide
Iteno Divide .
Uevrrt Divide
Ueno Divide
Hcsetta
fellver KlnK
Tonopali Divide
Tonopah Hasbrouck
Victory Divide
Verde Dlvldo
Zone . .
00
.la
30
20
.011
IS
on
12
.12
OS
.1(1
08
.3
.Of,
3
.1).-,
in
.to
4'i
as
20
2R
.41
Fidelity Trust Company
Member Federal Iteterve nytcm
' Capital $5,000,000
Surnlua 516,000,000
hMn umeei uronn rcreet unicei
II Chetnnt M, N. K. Cor. at
M H, Fonrth HI. Uroad i. Cheetnnt
nviirr. ill'
1NSLKANCB 0IVrtI?AV ?F N0RT"
Third and Walnut Streets
riiiunr.uniA
A Snerlal meeting of the HtockhoMer? of
the INSUliaai'.
C-OMHANY OP NOr.TIl
r Private Secretary
i Wants ronfldeotlal position of trust
wltli capitalist or corporation ei
vMre. (Some assarai.ro of perma
iwj'. Tonal' man over 30 Tears of
'W, Velleae aradnate. Volunteer, V. H.
Arr, lately discharged vilih good
jwcsrd. Hold a responsible paving
,rtllan tn AdmlnJitratlre and rleld
.errle duties. Kleven yeora" eipe.
dua. In bualnet and Bass's. In-
lar pergonal npsinesa in res. i-
ror, nnanctai inieresis tn ine
flat.
mux qi t.isdciw orricn
...e.TTra lll he held at the office of the
romoany on rrniay, reoruary uju, ju.u. at
1" m to vote for or against the proposl
Jr,m of the Board ot Directors to Increase
ih. T Capital Stock and Surplus Fund of the
romoany bv the issue of One Hundred
Thousand (100,000) additional shares of
I ' Kach Stockholder lo be entitled to sub
.rlhe for one (t) shsre on account of
"very four (4) shares held. The amount to
i hi oaid for "rl share shall l Twenty
notler (1201. 110 of the proceeds of each
share to be placed to Capital Stock and Jlo
to be added to the present Surplus cf the
Company.
OOI.DFIEtA) STOCKS
Atlanta -
Hlue Uull ".'
Hooth . 0
V Q D . . .02
Combination Fraction . . . .03
crackerjack ... ... ,nr
Dlamondfleld It B. . .01
Daisy .... 0.'
Florence til
Clo'dfleld Cons tH
cjol.tfleld Merger M
tjoldr.eld Development . .17
Ore.u Ilend 01!
Jumbc Ext 07
Kcwanas 0.1
Ijone Star 04
Oro 01
lied lillls 01
Mlver Pick 04
Spearhead 05
TOTW KUKVIRtl Keiretarv
Ptftdende
THE ELECTHIO TOBAGE HATTEttV
Alleihcny aveciueand J9tJi street
I The Directors have declared a quarterly
dividend of Tito flftr-one liandredth Dollars
i" B0) per share from the net earnings of
MISCKM-ANEOUS
Apiparo . '.
Arlaona United
Eden
Mother I.ode
Nevada Hills .
Nevada Rand
Nevada Wonder
ITomonlarlo
Tecopa Mining
White Caps
IS
.20
03
20
25
11
07
12
Isk
OS
JV
ns
.1"
07
.IB
OS
1(1
2S
IS
07
14
.It.
.'JS
70
IS
07
14
47
1(1
12
10
40
07
40
07
1.1
13
4S
40
.43
0,1
nt
OS
.OH
OS
07
.01
01
till
.IS
or.
.10
oj
on
on
oo
cm
OS
.00
07
.18
OS
25
.30
I'i
10
14
TOO
2'i0
390
700
S3 10
28 JO
3390
1200
4808
200
8090
300
1090
210t
200
3)0
390
62)0
8)0
6)0
2000
790
10
2990
3330
1410
200
100
890
101)
83)0
47 Ml
47 10
coin
100
'90
290
Erie
Jlrle 1st pf
c'rlo 2d pt
KG
13?a
13M
iVh
145
S37s
21
U'
Fairbanks 83
. 2
. 4
. :eu
. 20 a,
. 73
.74G
General Motors pt,... "H
General Motors deb . 90
Goodr'ch B F SOS's
Goodrich B F pt .... 104
Granby Consol M & S. i3
Gray & Davlu 49T4
Great Northern pt . . . 9?i
Gt Northern Oro ctf. 19
Greeno Cananea Cop . 34
Gulf States Steel . .. ?0'i
Haskell & Barker Car. ul
8 Famous Players-U .
. risk rtubbor
2 Freeport Texa-j ....
3 Gaston Wins & WlK
G General Clear
8 General niectrlo . . .
12 General Motors
ti
4
7
Illinois Central 88
Inspiration Con Cop.. 5014
. Jnterbor Con Corp .. i7t
Inter Con Corp pf ... 1SH
Int Agrlcul Corp ... 22
5 Int Agrlcul Corp pf . . S3?
Int Harvester 130
7 Int Harv pf new ....114
. Int Mer Marina 50'i
6 Int Mer Marino pf ...11014
. International Nickel . 22
International Paper .. 71
0 inter Paper pf stpd . , 77
Iron Products Corp . . 3?
Jewel Tea '-'-
44
121H
52U
89
9154
114
12
J5i
11 ?
134
.',
9
23 'A
73
"&)
m
K8K2
9414
107 n
. m
fH
1161
t7is
K
24
372
t3
89J4
117
103 U
25 i
63
V8'i
3011
41
85
:5
tsJs
48 .
13 '4
(7'
62 Vi
SO
ma
35
01
13 Kj
18
81
20 IH
99
4 6 Vi
84
95
13?,
1314
27
14214
13
2014
154
8114
89
41 !4
35 Vt
19J,
08! i
173
735
017's
S9H
78 i
104
82
49 'A
9H
38i4
(STs
5Ti
S9J,
8H
414
14 Vi
22
83 H
128
114
47
1C3K2
32 ,
68 M
IH
V
!4
19
?8
!4
!4i
7
A
V
992-1
250
99 H 1-
120 ;
5
16?
i8',4
7
5 r
f 4Js -".814
91 -173
73 r 3
18J4- 1
11JU 3J4
13V4 4
44
123 ?s ?i
32 ,i H
h9
9iV 3H
114
13H
IS! -
11H
51 I
Vt
914
24
2.(14
:7 I
45
139?
95 r
10814-
f?4
54
117
H r
814-
21
rs s
3 -
89J, )
117 -103i4
2514
12
18
30 ?,
44 -
85
:83s-
39 H
48 -14
A
8
I-
80 t'4
35
91 ','4 1- Hi
1314
i8!j 14
r3r& ,-,9
107 Vi r 'A
215 13
99 - 1
47
414
96 A
2714
83
92
43
ro!4 114
20M
7214 314
1531',- Ti
145 11
5700
11400
1A90 3
FI too
ton
100
500
100
100
1590
300
390
300
100
1000
8200
590
18000 1
6609
700
390
3000
9600
1200
410
209
4101)'
200
2800
too
100
100
114
'
I
14
1
yl
Mi
14
Kan City Southern ... 15?
Kclly-Spe Tire 135
Kelly-Sp T 8 pf ..103
ICelsey Wheel 81
Kennecott Copper ... 29 5s
Keystone Tire & R.ub. 46
C Lackawanna Steel ... E'H
.. Leo Rubber & Tire ..3414
60 LehlRh Valley ....... 43)4
7 LiBftett & Myers pf .114
. IvOos-Wiles Biscuit . . 72
7 Loose-Wiles B 1st pf. 99J4
13 Lorlllarci P Tobacco .180
7 Louisville & Nashville. 109
Martin Parry Co n . 2714
7 Manhattan Kiev guar. 51
.. Maxwell Motor 1814
Maxwell Mot ctfa ... 38
.. .Maxwell Mot 1st ))! . f14
Max Mot 1st pf ctfs.. 66
7 May Depart Stores ..127
10 Mexican Petroleum ..203
2 Miami Copper 331
,20 Middle States Corp .. 63
4 Mldvale Steel & Ord . 60J4
.. Missouri Kan & Tex.. !'s
. Mo Kan & Tex pf ... 1
1 . Missouri Paclflo . . . . 25
Missouri Paclflo pf .. 10
Mtilllns Body 46M
3 National Acme 37
7 National Biscuit ....11514
Nat Aniline & Chem.. 1814
7 Nat Aniline & Ch pf.. 89J4
Nat Conduit & Cable. 10'4
5 National Cloak &. S 79
fl Nnt Knam & Stamp 79
. Nat It n of Mex 2d pf . !4
1200 1.60 Nevada Con Copper .. 154
410 fi National Lead &2'4
New York Air Brake). HOyi
New York Central ... 701-4
New York Dock 45
New York N II & II . . 19
7 Norfolk & Western .. 99
7 Northern Paclfla . . 815
6 Nova Scotia S & C .. 74
4 Ohio Cities Gag MVi
1,0 Okl.v Prod & Ret .... 10
.5 otl-i Elevator 131
Otis Steel 37H
3 Ovvcni BottllnR Mach. 0!4
5 Pacific Gas & Eleo . , . 00
Pacina Tel & Tel ... 35
I) Pan-Amer Petrol & T.107
. . Pan-Amer Pet rls . . . H
Parish & Bingham....
3 Pennsylvania It R, .. 4114
.. Pcnn Seaboard Steel. 35H
Peoples Gas Chicago . 34 54
. Pere Marquette 23'a
3 Philadelphia Co 31H
.. Plerce-Arrow Motor .. 81J-4
.. Pierce Oil 18
4 Pitt C C & St L . . . .
5 Pittsburgh Coal of Pa. CI 14
.. Pittsburgh & W Vj. .. 26
1 Pond Creek Coal ... 2114
8 Pressed Steel Car .... 99
8 Pullman 115
5 Punta. Alegre Sugar . 93H
8 Railway Steel Spring. 9814
2 Ray Consolidated Cop. 20J4
6 Republic Iron & Steel. 110
1 Kepub Motor Truck.. 55
4 Reading 76
.. Remington Tjpewrlt
Rosal Dutch Amer
Todav's Net
Low (Jlose Chce.
TRADING IN LOCAL STOCKS
WAS GREATLY CURTAILED
690
2100
too
6090
2000
3000
CC0
7800
5390
090
1630
500
200
200
13300
4000
300
3700
400
1400
4,0
1390
46500
1490
200
1390
990
2290
1700
809
138)0
430
16)0
35000
600
23)0
300
100
10
fi
.50
16610 8.70 Royal Dutch N Y
fl
103
103
16
1314
1
1
1614
U14
9214-
8954- 14
so H
104 - H,
3
49
7914 14
S9 1
34
7014 1
6614 Vt
I9J4 1
5014 14
4Ji H
15
22 li
83J4 14
129 2)4
114 14
4914 114
1(15 J4 34
214
7014 2H
77
3014 14
iU- Vi
1490 .. St Ij San Francisco.
loo st Ij Southwestern .
100 St I, Southwestern pf. 20
4090 Saxon Motor 13J4
650 6 Savage Arms Corp . . 76
3)9 Seaboard Air Line pf. 141-4
230 8 Scars-Roebuck 120
600 1 Shattuck Ariz Cop ... 11
4090 0 Sloss Sheff S & I .... 7t'4
31390 .. Sinclair Oil ..; 47 J4
123)0 6 Southern Paclflo 9514
1890 . . Southern Railway ... .23
loo, 5 Southorn Railway pf.58J4
100 12 Stewart Warner Sp ..140
2390 4 Stromberg Carb 7714
201)0 7 Studebaker 110
12099 . Studebaker rts 3
600 fl Stutz Motor 1U!
700 3 Superior' Steel 45
1099 . Tenn Cop & Chem... 10'4
4900 10 Texas Co 296
1609 .. Texas Co rts 5!4
5700 .. Teaa & Paclfla 42
600 Third Avenue 14
7090 6 Tobacco Products .... e7
100 7 Tobacco Products pf.100
17990 . Transcontinental Oil.. 45
400 5 Transuo & Wms Steel. 63
200 8 Underwood Typewrit. 197!
200 6 Union Bag & Paper . . 93
5590 Union Oil 37J4
3700 10 Union Paclfla 12514
1200 4 Union Paclfla pf .... )?
100 9 United Cigar 103
410 4 United Alloy atMl ... 51J-4
1190 10 United Fruit 203
1C590 .. United Retail Stores.. 91
500 .. U S C I P & Fdry.. 21
100 TJ S Express 23
13000 '. U S Food Prod 79 14
8500 16 U S Ind Alcohol ....10714
13)0 8 U S Rubber 123
1300 8 U S Rubber 1st pf ..116
1200 6 U S Smelt R & M .. 74 ?i
100 3,50 U S Smelt R & M pf 48
70300 5 U S Steel 10414
4030 "US Steel pf 1114
35)0 6 Utah Copper 7314
500 . Utah Sea ..: 10
300 4 Va-Carollna Chem ... 65
, 1030 ..Wabash 814
1110 . . Wabash pf A 21
200 .. Wabash pf B . 10
400 . Western Maryland ... 1114
100 . SWest Maryland 2d pf. 20
300 Western Pacific 22
600 7 Western Union Tel ... 89
100 7 Westlnghousa A Br... 114
2290 4 Westlnghousa E & M. 53H
1200 .. Wheeling & L Erie .. 13J4
2100 4 White Motor 67
2090 a Wilson & Co 79
8200 1 Willys-Overland 3014
2300 . Worthlngton Pump ..87
300 . . Wells Fargo Exp .... So
'Ux dividend.
1M
132
10.1
81
28
44
83 'At
31
4.2
1U
72
99)4
176
109
27 J4
44
37 Vi
37 Vi
C5
6
125
190
23
57
49
9
1314
24 Vi
38
46
37',
115
CR
89
10
79
79
614
1514
82
1C0
6914
45
28
96
8014
73
48
130
3G
5514
CO
35
103
4314
41
35
T314
23
31
7814
17
66
61
20
21
97J-4
114
90
9514
2014
104
53
70
79
102
99
15
1314
26
13
75
14
219
, 11
71
40'4
91
22
6814
140
75
108
3
114 'A
45
10
63
41
14
81
100
4 3 J4
63
107
91
36
133
87
102
49
199
88
2014
23
76
109
131J4
113
72
48
102
112
71
10
M
8
24
16
II
20
21
88
114
62
12
C5
76
29
85
56
16
134
103.
81 H
29t4 H
4S U
85 1
34 Vi
43 ..
114 1
72 1
9914- Ti
180 I-
109 - '
27 '
51 9
:s 1
is
6614 1'4
60 3
126
201
23 1
62 1
50
9
14 1
- V
39- 14
46 1
37
115
16 1
89l ..
10 -
79 2
793
6 ..
15 154
83
110 1
70
45 -
19
98 1
10- 1
74 3
803
9- S4
131 1
37 1
6 Vk
60 - 14
352
106 4
- 14
44
41-
36
34 134
23
31
81 4
17
C5 - 214
61
20 v
21
99 1
116
93 J- 3
8
20
110
65
76
81
102
101
36
13
76 14M-
219
11 -
73 2
47 1
95 -V
.3-
58
140
77 2
110 1
3
114J4 3
46
10-
296 11
C5 4
42
HM
86 5
190 2 '
134 1
63 2
M7 1
922
371
126
67
102
51 1
199-
90 3
21
23
78 .
107-
123 li
115 11
71 1
lC4-r
111
73
10
65 8
24
16 -11
20
2
to
114
63
13
C6
79
30
86 WA
00
Profit-Taking in Electric Storage Battery on the Theory of All
Good Nctvs Being Out
-Uf local market continued the wait
ing attitude which it assumed earlier in
the week. There was little that was
pf interest to be attached to the tlaV's
tradins. The dealings in the first place
were greatly curtailed, and besides
poorly distributed. Apart from less than
n halt dozen shares, the transactions
were of a perfunctory nature, while
price chauftes' altogether vveio unim
portant nnd meaningless.
Some profit-taking appeared in Elec
tric Storage Battery," appaicntly in
fluenced by tlio old-established street
axiom that with the good news out the
stock was n sale. In some quarters
disappointment was expressed concern
ing the dividend, Rumor had it that
the directors would cither dcclaie a 2
per cent extra or 10 per cent extra pay
able in the Liberty Bonds.
In conservative circles, however, the
action of the board in raising the divi
dend rate to n 10 per cent basis was
generally considered a wise one. It was
pointed out this would permit a wider
distribution at the next quarterly
period. '
Yesterday's increase of of 1 per
cent in the quarterly distribution
marked the second raise in the dividend
vviOiln three months. On September 4
tno dividend was raised from a 4 to an
8 per cent per annum basis. As the
par value of the stock is $100, yester
day's increase to a 10 per cent basis
means a yearly distribution of $10 or
netting approximately 7 per cent at 140.
It is understood that the company is
working on large contracts for the
navy, and in addition is unable to keep
up with the demand for its producti
from commercial concerns. Earnings
for the current year arc estimated to bu
in the neighborhood of $30 a shore for
the common stock, as compared witli
$24.31 earned in IMS. ,
After opening .1 higher at 13014
realizing sales brought n reaction ot
$2.f0to 137. Comparatively little
stock apparently was brought out on
the recession which brought fresh rally
to 188j.
Liquidating pressure against United
(las Improvement again automatically
disappeared, being replaced by a num
ber of small buing orders, most of
which evidently emanated from small
investors which held the price relative
ly steady at C2?i.
Similar buying was again noticeable
in Pennsylvania Itallroad, lifting the
price to 41. Philadelphia Electric
shaded to 24, nt which figure fresh
supporting ordcis were met. Lehigh
Valley was 23c lower at 43. ,T. U.
Brill, on small offerings, dropped $1
from the previoui sale to fil.
, The sale of a block of 1000 shares of
Pennsylvania Railroad at 41 came in
for more than passing attention, which
was believed to be for purpose to reg
ister losses for tax purposes. Lake
Superior picked up strength in the
afternoon, advancing to 20r;s.
COVERING MOVEMENT
'STRENGTHENED CORN
Late Prices Move Irregularly,
Closing Firmer Losses in
Oats Recovered
3
6
1
IH
Chicago, Dec. 4. Thc.rorn mar
-..--iiiC m&ti run munn tn tllV . ,
billiard championship tourney will
meet tonight. The draw in the fourth
round will bring together Charles
Seeback, of Hartford, Coun., holder
of the world's mark of sixty-eight
made yesterday, and Ralph Green -leaf,
of Wilmington, who registered
Mxly-scvcn on Monday night.
Seeback is the surprise of the
tourney and under pressure may
shatter his own mark In the last
mutch tonight at the Parkway
Building.
Grccnlcof has made more than
IfiO in nn exhibition match. See
back is credited with 1 12 in practice.
BIG DEMAND FORCES
COVERING IN COTTON
Sentiment, on the Average, Be
lieved Less Bullish Than for
Some Time Past
New York. Dec. 4. The early after
fioon cotton market developed a stcadiei
tone, tne persistent trade demnnd lead
ing some of the local shorts to covei .
?vhen it was seen that Ihc Mexican af
.fair was failing to bring in outside sell
jng of any moment.
, Prospects that the Edge foreign
nnncing bill would be passed by the
-enate this week, the improvement in
J,)al production, the low Clement, Curtis
yf Co. cstilnato and the strength of spot
yarkets uppearcd to be promoting in
..;cased caution in selling. Sentiment,
(fl the average, was probably less
pUiiish than recently,
ti The exports were 33,843 bales, la
uding 15,285 bales to Franco and
3,558 bales to the continent.
(J, Clearances for the season to date
era 2.0G5.C02. bales, compared with
"332,109 bales for the corresponding
The Trch
H.ghefciy
-
ifniSk
M&0MwkWL$
blL MBMiHpasMsjsjjM
riod last season.
T.st. Today's 11:00 1:80 2
rloa opon a. m. p. m. r
,. 30.25 80.25 H0.20
38.72 38.90 38.80 38 80 3H
, S4 Rl 34.SO 34 B8 nt.OV
. S2.7B S2.n0 . . 32 77
,. Sl.fiS 81.85 ...
. 20 00 20.25 ... . 20
,30,
WM. J. DOUGHERTY. Dbf
"MYour Losses
RAILROAD EARNINGS
CANADIAN PACIFIC
Increan.
ourth weak Nov, . JB.088,000 JSM.Onn
-om januarj' 1 - i ao.auu.vw lf.utiT.OUO
it Normal
a
1!
1'
1
H
5
1
H
1
I'J
1
351
Junior Bankers' Meeting
Several interesting addresses will be
made nt the regular meeting of the
Philadelphia Chapter of the American
Institute of Banking, to be held Friday
evening, at the chapter rooms, COS
Chestnut street. Thomas Rneburn
White, w ho drafted the new city charter,
will lake for hit, subject, "Some Fea
tures of the New City Charter." Sam
uel D. Matlak, law assistant to the
commission to codify and levlse the
banking laws of Pennsylvania, will
ppeak on "Revision of the Banking
Laws of the Commonwealth."
LONDON METAL MARKET
1 w ork, Dec 4 Cable advices at the
New York Metal Uxrhange this momln
I quoted prices In London as follows: Tin
! Hpt 2t'il llio an advance of 2 ;
I futures tiW ra a ealn of 2: straits. 207.
' an upturn of "J Sales Spot. BO tons:
future A4C1 tons Htanriarrt ponner Spot.
tun 10s futures 100 Kit. both up 1 os.
Hales Spot 801; tons: futures, 11(00, tons
IllectrolMle Copper Spot, 108. up 1 fu
tures 110 a a-aln. of tii. Lead Snot.
ia 12s Cd an advance of 6s: futures, 30
IBs, an upturn of 7s Od. Spelter Spot,
Rl, a pain of IDs futures, 51 10s, an
advance of Ss
Reserve Banks' Discount Rates
Official discount rates at the twelve
rcderal Reserve banks were as fol
lows :
(The first column gives rates for all
periods up to and including a fifteen -day
maturity, the second lor a period of
sixteen to ninety dajs. The tliiul and
fourth columns give the rates for re
discounts of collateral loans hecured by
government bonds or notes
Com'I paper Oov't papsr
IBtnOO 10 to 1)0
Hanks ISdaysda) 10 days days
Hoston .. . 4"i 4", 1i 1W
New York . . i 4i 4'. 4W
Philadelphia 4 1 4"I i
Itlchmonil .. 4 4 4' 4Si
Cleveland .... 4"i 4". 4'1 M
Atlanta . ... 4' 4"; 4'i 414
Chicago . 4Vy 4i 4 'I 4V4
St. Louis . . . 4'i 4J 4'i 4A
Minneapolis Ah "1 I', 4
Kansas City .., n A M. 41Z
Dallas ..... r. n 4'i 48
San Francisco ... i'A a 4'i 4'?
Bank of England Statement
London, Dec. -1. Tlic weekly state
ment of the Hank of England shows th
following changes: Total reserve in
creased 2,440,000; circulation in
creased 1,440,000; bullion increase.
fS.SSS.TC'l ; other securities decrcasei
1,272,000; public deposits increase.
1,480.000: other deposits increase;
t-iG.CHB.uuu; notes reserve increase.
2,548.000; government securitie in
creased 45,000,000. The proportion rl
the bank's reserve to liabilitv thU n-i.tJ
la 13.21 per cent; last week it wJ
JU,,H.
ft
GOVERNMENT BONDS
Did
Panama coupon 2a 1038
Psnama reslstered 2 1080
Panama coupon 2s, 193H
Panama reslstered 2s 193S ,
Panama coupon 2s 1081 . .
Panama registered 8b, 1001 ,
Philippine 4s. 1034
Philippine 4s. 10,15
Vhlllnnlna 4 ldCl
I II 8 Qov coupon 2s. 1030 ,.10
U R Gov registered 2s 1030 ..100
U 8 (tov coupon 4s 102R ....H'Jh
I U S Gov registered 4s. 1B . 1054
I D of Columbia 2-63s. 1024 . . 07
Ask.
ooh ioti'4
eo'i ioo'I
S8J4 ooj?
ssii sou
02 08
02 Od
02 08
inovj,
106H
BANK CLEARINGS
Bank clearings today compared with cor
responding: day last two veara.
1019 1018 1017
Poston.. 167.7RT.4R0 82,S8B,07R 181 (MIS. 788
.N Torn U17,,V.I,B1U "4U.4iU in.- II1U.O3S.470
DIVIDENDS DECLARED
American Snuff Co. quarterly 2 per cent
on common and quarterly l',s per cent on
preferred, both payable January 2 to stock
of record December 18.
RAFFIA
SSOO bnles for Immediate dellterr.r I f
New Vnrk for one ton minimum 'order
from 12 ets. per pound until la rts. this
,u. .imw .aHcfc iuHKvis purposes.
Hauiplea and prices on application. nr
drd Fl s. 0 1W. Carlbaldl. Marseille
Established 1S72. Tabl. oddrVaa rinihJ
seeds. Marseille. A. 11. t. rode, nsed. Btii
of the American's
redit Insurance is to
ally attributed to cigars tion against abnormal,
and in a measure not e3
at double the price. ompletc is the service
In addition, the "-frequently a client's
-rrr z T- j luced, and he is saved
you 11 not find in ordinaate premium paid for
that the ADLON is free
gums which cause tha.turcr Qr wholcsalcr
taste; which collect at ly fae normal insol-cigars,-
exciting the sali'm sales of any volume
quently inducing the of business,
spitting. ;ry interest to get such
The process for ren inquiry will bring
nullifying these gums if1 obligation,
after years of rT-INDEMNITY CQ
testSl E.M. TREAT. PRESIDENT
Why not adopt th j. F. McFadden, Gen. Agt.
It is npt only a deligf n. y. bwk.
Havana - filler - and - slt?rt j503
, , , , . iib, Fa.
wrapper blend, but xt
most scrutinzing edict'
and sanitation.
Edge up to a cigaj GOVERNMENT
now and try this diff otUmiltb
,i4.u A:fta4. 00 Denominations
wiiii a unit iui aiguiuui
ADLON.
)LD FOR CASH
EXPORTERS
Offer your llntter und Condensed
Milk to the Sotlfte Generate des
Negotiants en Ueurre Oeufs t
Vromaces. Capital, Frs, 0,000,000.
lteilstered offcei 19 nn Herder,
l'arls. Cable Xeiobeureuf, Farli,
Code T.leber
L.- A
EGARDING TAX FEA.
TY LOAN SECURITIES
O UPON REQUEST.
NEW YORK
-a,
133
, ERY & CO.
S. i4TH ST.
PHILADELPHIA
CHICAGO
TELEPHONES: Bell, Ixmbard 4320. Keystone, Main M81
Government Securities department
Sloe!
, holders
1 en
psyaMe January 1, 1020, to stock,
of record at tns close of business
December I. 1819, Checks will U
"SvAWEB HENDBRBON. Treaa.
Charter Filed
r)oer, Orl., Dec. 4. CtiaUeru filed
here today were: United Stales Dairy
Products Corporation, $3,000,000, to
deal in atid with milk, cream and other
dairy products, etc. M. L. Horty, M.
C. Kelly, H. Ia Mackey, local Wllmlng.
too, Del,, incorporators,
BAR SILVER
Commercial bar silver tvas quoted in
New York today at $1.31 an ounce,
an advance of c. In London, the price
was Md higher, at 75d.
New York Metal Market
New 'iork. Dec 4 COPPER Spot and
December, offered. IS'ie; January. February
and March, offered. MTic, M arket ftrmer,
I.EAIi SDOt and December. 0.12W, 82ViC.
Januao. n.7B6,Soe. Market firm.' Spells;
i-st pr Luisnpot ana jecrm-pr. j, rv
U SOc. ,!snuy, FenruaryB4 Mf(M
84.C Market steady. ' W c"
She, Market steady.
ti-
CHARTERED 1836
G1RARD TRUST COMPANY
BROAD AND CHESTUT STS.
CAPITAL AND SURPUS, $10,000,000
Acts ai Executor, Trustee, cJxdlan and Adminirirator
Interest Alloweon Deposits
Member of Fede
E. B. MOC
Rrye, System
115, Prciidtat
-I'I L
1812
THE
1919
PENNSYLVANIA COMPANY
for Insurances on Lives and Granting Annuities
TRUST ANDv SAFE DEPOSIT COMPANY
Capital and Surplus
$7,000,000
BBOAU STItEET OFFICE
Chertnut and Juutpcr Strfft)
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Member Federal Reserve System
517 Chestnut Street
- Philadelphia
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