EVENING PUBLIC LED&ER PHILADELPHIA, 'MONDAY, DECEMBER 15, 1919
2Q
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AMERICAN LOCOMOTIVE
t. '"financial and business factors
1 underlying' the present position and
future prospects o' this important
enterprise.
WHITE OIL
H Analysis ot properties, lioldinKS,
M construction nnd development pro
I) strain, production, estimated enrnnlijs
Una renernl outloolt.
INDIAN PACKING
( rtuslneo. cnrnlnc. financial con-
jditlon and mnrlcet lil'torj,.
Sent on request for P-471.
V HUGHES & DIER
VMIiirlMphlii Mock Kxrhnnne
rlttMbumh Mock Ktrhnnse
lUCARO nonra or .rnio
Memlri
J!
1435 Walnut Street
Philadelphia
fceci ork Oltlrci
AO P.rcnid Mrret
NEW$ OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
CONFLICTING INFLUENCES
KEPT MARKET UNSETTLED
Supreme Court Prohibition Decision, Stiff Call-Money Rate
and Mexican Developments Favored the Bears
Sew Yoihi Dec 15, The ncu week tho general disposition to hold aloof
pcnilliiK the convening of the Supreme
Court In thii haltltiR condition the
nnd professionalism market rnn njtiilnst nn advance In the
the pre-eminent .l mniiPj rcnev.ni race 10 ii per cem
opeirccl with essential!) no chance In
the Rcnpral cliar.ieter of the Mock mor
kct. Tircifiilnrll
stood out uulclh nn
UJ3M!MilWllllllli,T,rrminmwillirnPMillJi!JMMTO input nn K.itimhn . foreshadow Inc n con
3b H tinned ik Mods of tight nionnj nnd hlh
S S intps, mid on the A iishlnRlon ills
ESTABLISHED I86S
.,.... c .. .!..... i !i.. i kiincii ni? In smithereens nil hope ol
KPlher colorless movement. i raslpr nionej market conditions, which,
I'mm the Mart t. finish it ns In I" hc ; cip nlnn of innit. observers, were
cery sense of the word strlctlj nnd tnossible this week follow Inctlio heav
enthpl . i traders- mnrket. The hack- i Interest and dlUdt nil cllshiirvcinenls
hiB and tilling piocess as nnthlne hut imjnble todai Still nnihor ''lack eye
the surface relic .-Hon of the MilftinR ni coming from the ' HPron p o urt in
ind :chlitlii of 'he mom (incline con- the unanimous decls on upholdluB tl e
tlngent In Its strangle to find the coiistltutlnnnlib of the wartime prohi
ilernlte market tuml , bitlnn net ..t., ,i.
whole list bei'itine more pronounced af
ter mid-da with prices jlclding all
alone the line.
Increasing pressure ininiciunrctj- cic-
The miricet was hntidlrnpped at the
start l reason of the bad htnk stnte-
. . n .' . . - I 1 . -II C....
S patches on (he President's insistence of opeu pro , cm, a .y , ,
S
BIOREN & CO.
DANKERS
...... " ' " ''-, ,"". . ., ,,,., I ,,o
SlSTJri'VT'; blanket Icours-eVoccurrinK In tho-e sU.ck nfTectc-d
i- I ,....-. ---- , '...- V.. .!, Utitiinmn n T I IClHinil.
nnmely the food nnd so-called ihlk
shnies. 1'nited States 1'ood Piodueti
on the hones bulk up on the arlj rati
firntinn of the tr. nl on the iumoi
jiJ that rrniui and IhiKland wouiil aBric
to neraiions
In oke
St 314 Chestnut St., Plilladolphia
Government,
Municip.il, Railroad Cor
poration and Utility
Securities
Uembora Xrto 1 ?rf nnrf Philadelphia
Stock Exchange
wm luraon mmmwiii i . m wm vu. i imiuTji
LIBERTY
s noints in a tew minim's, in
.... 1 .i .....i.. sit l,n liot ntTiMiiiiH r(Pin-
3, I-os of Kinuiic in the initial Ueanncs .. ii .u.ls "'"'."',;',,'., ..' tH
1 mil almoKt o l'kl as it had appeared. I ground At the same time Jhi '""
i,fsK-te'2SraTssus
g the latest Mexican .-. xelopments. and ' I" ' k1"1
I IINI1FR PRFSS11RF ARE UNIMPORTANT
il
1 NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv
In I
OND
Tight Money and Prohibition Fluctuations in Usually Active
rw;.:,M, 5ifTri!,ic fr Firr,t ' Stocks Confined Within
Selling Movement
Narrow Limits
it
EXCHANGES WERE IMPROVED; ASPHALT SHARES IRREGULAR
$50, $100, $1000
Bought Sold
Recommended for Investment
Newburger, Henderson & Loeb
DANKKHsl
1410 CHESTNUT SIRHET
Musbera i. . & 1'ulLi. Blot. ux.
ctiaae0
Penna. Elec. 7s, 1923
Wharton Steel 6s, 1923
Richmond & Mecklenburg 4s,
1948
North. Ontario Lt. & Pr. 6s. 1931
Wilkes-Barre & Hazleton 5s,
1951
Consolidated Cities Trac, Lt. &
' Pr. 5s, 1962
Wheeling Trac. 5s. 1931
Seaboard Air Line 6s, 1 945
Ouquesne Light 6s, 1949
New York. Oeo in The New York
Hening Sun's closing financial review
tcda snj-s:
The new w'l pk in the securities mar
ket started off well enough with prices
a bit irregulm at the opening, but with
u lirm undertone which developed into
moie or less surface strength through
the first hour or more. During this
period those shiut of the market wort
kept ir a cpiandrj because of the double
uncertainty as to the money mnrket and
the Supreme Court decisions.
Sen Wlc, Dec 15. Trading on the
Iiroad Street Curb wns quiet nnd the
flue luations in the usually nctne Ntocks
were confined within n comparatUelj
nnrrow range.
(Jeneral Asphalt was strong at the
start, selling at lOSi, but dropped to
10.Wt Texas Chief was one of the
stiongest features and advanced from
3." to .tS. Simms Petroleum ranged
fiom 02 to 01. International Oil was
When the renewal rate of 0 per cent ! strong, ninins up from 57 to 00
wns announced for call loans, it proved
to be the signal for a setback wlilrn.
however, was in process of correction
at noon when the decision of the .Su
preme Court, Holding me wnrcimc pro
Tobacco Products Kxports sold at Z'2
to HO American Tobacco Securities
wns steadj, selling at 04 to 113.
(Jeneral Motors, new, ranged from J14
to .I.IVj and the debentures sold at 1)1.
I the loss nnd then hung tire
I The steels, coppers and motors were
under nies-sure after the first hour until
after midafternoon and some of the nil,
were finite hcuvilv sold. The mils were
lower bv 1 to '2 points, but there was
vcr li(tie nnimntioc in that quarter
Tho ilenresshlL' effect of tile court's
""'"" Land J itlr HI A a uurv it nction in tne nroi iDiiinn. case hub, in
hibition act 'to be constitutional again Montgomery Ward was truded in nt 45
started the list downward, the retro ' to 45 1,. ,,.,-. -,
grade movement being led b I nlted Submarine Itoat sold at l.i to 1 1 V j
States Pood Products and Cnited itates i i.oew was sieaciy wiin sales ni -Mil
Industrial Alcohol the former dropping J'4 I.ft sold nt 2. to 2V&. In
(1 to V points to 73 in n lew minutes. I dinn Pxicklng wns ti ailed in at 18 to
Ttoth stocks quickly regained part oflli i. .vnttRTm n a
Mow2t&Q
Nno York T. Cnnnl IftiA
Mtmbert Philadelphia Slock Ezchcnai
New York, December 12th, 1919.
TENNESSEE AGRICULTURAL
CHEMICAL CORPORATION
The Board of Directors of the com
pany has this dny declared a divi
dend of two per cent upon the
Preferred stock, payable December
16th, 1919, to stockholders of record
nt the close of business Novembei
truth, muinh nsehological. The de
cision took the street ver much bv sur
prise, but ns a positive factor it was
difficult to see auy very close counec
tion with (lie market. It wns to be
'presumed that companies having large
quantities of liquor in bond have made
'whatever provisior ngalnst los it were
possible to make iii the fact of such u
coutiugencj. Hank loans in relation
1 thereto arc not importunt in the nggre-
gate
' The situation maj prove n spur in
direction of the general hope for speech
I actkm on the peace tieaty, since it
will be Impossible for the President to
8th, 1919.
Checks will be mailed throutrh the do nnj thing toward lifting the ban until
Cornoration Trust hnnnv M ratification has taken place The court s
Wall Street, New York' City. ' ftr.l & '""
WM. t. HOAVELL, rt was not verv cheering thnt the
. , Secretary ir,uient has decided to put all re-
T ; oM,,wihMItv for initiative in the treaty
HIGH GRADE HIGH VIFinl matter upon the Senate, nnd it is not
fBBr
RAILROAD BONDS
LIST ON REQUEST
MARTIN & CO.
1411 WALNUT ST.
Miiiniisicl t iat nns tiling enn ic iiuu
toward the much -desired consummation
of our international relations before the
end of the venr, if by then.
Philadelphia Stocks
Aetna Explosives .
Amer Marconi
Aracr Tobucco Sec
AmHl Tire Stores ...
UeKVer Hoard pref
Car Usht , ,
columblK Knierald
Iluroe Kuttlca
cieneral Airphalt .
Clineral Moturn , . .
Hupp Motors
Hendee Mfr ...
Indlon Packlns .
I,owj( lno .
Loft Inc ...
M rcer Motora
Mont Ward
Norch Amer Paper
Nunally .. ,,
''ertfctlon Tire (now) ,
IMssly Wisely ....
Republic lire ItublT.
Hiiuwh FeintalnM
hubmarlne Boat . .
Tubatco J'rod Uxn . .
U H Steam
United Itet Candj
United I'roHt-harlns
United Plct Prod 7
V Vivian Inc
Wajne Coal .
IMJCSTIU VI-S
llleh .lavr
Lut
Annual McssHnyii
l?OTrH15 KAKI) NATIONAL HU.K
s-3 rhlladelphla
The Annual Meetlne (' thertoclthMi.
or tha Glrard National Hank will b hi Id It I
th. Hanklnc Hou 110 South TWrd MrUt
on Wednmdar, the fourteenth daj- of 4.n
uarr. IMO. nt 11 o'clock a. m" "n i
At thi meetln, action will ho taken mn
a. propoaed amendment to the Artleln iS
Awclatlon, increannir the maximum num.
Ur of Directors to twenty-live, and an eiS
tlon of Directors to aerve for th nauSv
jrear will b. held, and action taken uiSS
"xghmVZUB.mu'" " raay h5BS,
By urdor of tha Board of Dlreetorn I
JOSEPH WAYNR.jn, I
Preeldent. i
HgPNOItTirERN NATIONAI, nNK
- Th. Annual Mevtlnir orihV'So'AhJJj;,.
of th. Northern National Bank wMl li. sITI I
at tha IJankln Hou... on TulwlaV . Janni2
JS, 10. between the bw, Stlf'm.ZSSZ
. nu. lor tho election cf twelve (12) filree-
Hlirh
10 Am Sirs 4n .
10 Am T&T Wt
no Am fins. 4.".
10 tAtchis'n R2V,
100 llutte S. '-'.".
P. Cam Iron .'ifl'j
1" Con Trac
N .1 . . 41!
Rm T;i Stor.l.'t.!
lift Gen Ahp 10"
ioo r. Asp pf.ir.o
11 II & 15 T 1
102 do pref. 8
m i r N a ar
75 tKenne ( '1HK
BBS Lie S Cur 21 A
(IB1 Leh Nnv. OOVj
IjOv
40 n,
4..
S21,
2."
710 Leh Vol 42'
.A,,''. to voJSnJr-n Increase, of Capital '
Stock from, 1200,000 to 400.000 by til
issulmr of 2000 shares at I1B0 per ahar. ?
Which um 1100 shall b added to c'iiSi
and 150 to Surplus Account cPltal
30 L Bchnvl 43Vi
2S TIo Pac 23
10 Xor . V !-Vi
2tn Pa It It 40 M,
17.1 Pa Salt . 7B
.14 Phila Co
cum pt. .bi
4".
1.".2
102
1.111
4
s
3.1
2S
21
41
11.1
40'i
74
Net
CMoe chn
ADU.A- V,
fl' Vj
43 1
S2V . .
30V.
i
T
i
4 ',
1321
101
1.7.1
4
35
2RVi U
21 i
r.0i Jh
11 lU
43Va 43l
Sl 23 -Yh
ll.l-Si-t- l,4
40
74 ..
Alliance
Allied Oil .
Amal Koyalt
IIOHton Atwilco
Uoston Wsomlni .. .
Ilrazos Oil
Ilurlcnett 'Van Cleave
Carlb Syn hi.
Cities Hervlce Jl" ctfs
CoBdan & Co
Dominion
hlk Ilaln Pet .
Krtel oil
Ksmeralda OH
F.dural OH
Cllllllnnd
OufTey Olllesple .. . .
Hudson Oil
Int I'etrnI . ,
Invincible
Islnnd Oil
I.ivlnastou
MftKna
Jlerrltt Oil
Metropolitan Pet .
Morton Pet
North Amer OH
Omar oil
Pennok oil
Phillips Pt . ...
Producer & Itefinera . ,
Hanger Oil a
Halt Creek Pnd
Sapulpa lleflnlng; . . ,
! I Nequojnh Oil
Skelly Oil
Immu Pet . ...
spencer Pet
Texas ItanKer ....
Ti xas Co vv 1
iilnlt OH
Tropical Oil
Mctorla Oil now
White oil , ....
Whlto Kaele
10H
HERUEP.T y. QILUKOHiv
i-resiflent
tfcar-1118 MANAYUMt .NATIOKAL BAvii
lisy Philadelphia. Dec 1" loin K I
The Annual Meetlnr for the election T
Directors of this Hank will ba held at .hi
llanWm House, corner of Mam .'SS
Iverin sts . on Tuesday. JamJirr Vid
mo.betwern the hours of 11 2."" "j
"' m' EUQBNE J Monnis.
Cashier.
CkSP NAT10NAI. 8ECUIHTV HANK
-w Philadelphia. December 12. 1010
The Annual Election for Directors of this
fcak will be held at the bankln. house en
TTe4ay. January 18. lttto. between the
tour of 12 m. and 3 p. m,
W. II. McKKE.
Cashier.
iSP Vhlladelphla. v.
The annual election for Director of this
R..,k will he held at the Tlinklno- trn.. .
fT, Jasjoarr ISth. 1MO, between the
WERT.
Cashier.
32U
BIB Phil KIpc 24 241-5
li
B0
38
34
b:
32...
24 'i .
20
B0 1
2 if,
2S A
3ST, 3a;
34 .
B2 4- V.
hour of 10 o'clock a, m. and 13 o'clock m.
A. fl,
PlTlJonde
juMwiican rowrx ANntionT co.
- 7i itroaqway. new itrs, n, a.
Preferred, Stuck Dividend No, 4l
Tna (revuiar uuanerir aiyiaena or lf,
, " ini li Prtf'rred Ptock of the American
1 Power and UKht Co, has been declared,
payaHe Jitnaarr t. IMS. to preferred stock-
,, .r"rt.'' " note of puslnesa
'" eeMBr T, "i,
THLMAII REISER.
fj Treurr.
100 P It T tc 20 Vs
B0 Phil Trc BOI'i
485 Ton Bil. 2
300 Ton Mm 2,V
100 IT C Oil 38
SOS I'll Trnc. 34 Vj
4140 V (i I. 52U
20 tfJ S Stl.l02'i 102Vt 10211 K
100 tl'n It In 10 10 10 if.
Er dividend today Ton Belmont t 0..
tNet chanice made bv comparison with last
sale on Nev Tork Hw-k Ezchanae.
Sales in nOVDS Net
llOnO Win Ivw Cloee thue
1 City 4s Ml 07Ms OTVj 1)7: U
11 Eiec & Pfo
Tr 4s.... rm's BOU BOVj 2
0 Leh Val gen
4s 00?i C0?i 00 Vi
4 Leh Val gen
4 .... 78Vi 77j 772-r- Vj
18 Lib Honds '
4th 4y,s. 01.70 01.70 01.70 .20
1-20 Vie 4s. 08.70 08 70 08.70 .32
1-B Nat Prop
4.Gs 32 32 32 1
17 Pa gen 4'2s 70 70i 70
2 Pii n & w
1st 4g ... 83 83 83 ..
0 Phila Klec
1st Bs.... 80 80
n Pub Her B11 00M, (I03
B Head gen 4s 70 78
2 Span -Am I
Us 400 100 100
Alas-llr Col . , .
Alaska Mines
Arizona Silver
111ft Ledge
Ilooth ....
Hnntim A Mont
Caled Mln .
Canada Copper
Candelarla It
Cons Virginia . .
Crescent McNamara
Eureka Croesus . . .
40 Minim;
Oold Cons
Cloldneld Elorenco
Onld Kewana .
' Oold Mumrr
I Cold Silver Plclt .
Oreat Pend
1 Hccla Mlnlntr
Knox Divide . . .
I-ouliUna Co .
McNamara . .
Marsh Mln
national Tin
Nevada Ophlr
Nlplsstnct
North Star . . . .
Ohio Copper .
Rope Group . . .
Sliver Klnir of Artz .
Steward Kii ....
Tonopah lielmont .
Tonopah Cash Boy .
Tonopah Divide
Tonopah Mldvay , .
lonopah Mlnlnre . .
Tonopah Mlzpah
Unity Gold
United Eaatern ....
West End C
White Cap
White Caps Ext . . . .
Wllbert
Yerrlniton
MININ'O NTOCKS
.... Jr1.
80 4- .Ji
78 1
110NT1H
Allied Packer Os...
I H T 7 ,
Swiss Oovt 5Hs ...
Sales
70S
3000
700
son
200
r 300
100
0200
700
4 coo
noo
3000
3(iOD
2 COO
too
3100
2500
3200
2200
400
100
4100
000
2000
soon
100
200
3200
100
fioo
noo
3S0O
200
000
1000
3300
U0
r.oo
400
T
New York Metal Market
New York. Deo. 1 COPPEn All
months lHo bid Market, quiet. I.EAD
All months 7 inet.aoe.' Market firm
Hneltor, East Si lyouls All months, t.Soa
8 30c,
Dlv.
In I
Adams Kxpress .
.. Alaska Oold Mines
Allls-Chnlmcrs MfK
7 Allls-Clmlm MfR pf
8 Am Agrlo Chem
K Am Ileet Sugar . .
8 Am Uosch Magneto
. Am Can
7 Am Cnn pf
12 Am Car & Kdy
Am Cotton OK . .
.80 Am Druggist Syn
Am Hide ft Leather
Illrh Low
30 4 30
2!.
.. 40
.. 04
. 01
D3H
..m
, . 33
.100
137 Si
.. 47?,
. tlH
2BH
7 Am llldo & Irfttth pt.lUH
. Am Ico . .45
(I Am Intcrnnt Corp .I07C4
(1 Am Locomotive .... 324
. Am Ship & Commerce. 2S
4 Am Smelt it Ilcf 0i
7 Am Smolt & lief pf... BSJt
8 Am 'Snuff 104
3 Am Steel Foundries .. 41
7 Am Suirnr lief 137
10 Am Sumatra Tobno . . Otlft
8 Am Tel & Tel .... 00H
20 Am Tobacco 230
0 Am Tobacco pf now- . . 96
7 Am Woolen 127 !
7 m Woolen pf .103?4
Am Writing Paper pf. 3014
m tflna Lead & Sin.. 1C?4
4 Anaconda Copper ... 50V4
Assets localization . . 1 04
aso Dry Cloods . 03
Atlanta Blrm & Alt . 0
A tch Toi & Santa Fe
Alch Top is S !' pf..
7 Atlantic! Coast Lino ,
10 All Oulf SWISS .
27400 3. SO Ilaldvvln Ioco
100
11200
1300
400
1300
2200
8000
100
200
400
2000
2230
300
100
300
MO
1100
700
300
noo
300
20PO
100
1700
1200
too
400
noo
301)
S00
2300
1000
1200
300
2400
1000
800
100
2700
1300
300
200
1100
2500
200
200
4700
200
200
4000
100
500
200
1000
800
6100
100
12000
4700
300
COO
500
1200
800
600
1100
800
400
2000
1G00
500
2000
300
1200
1300
400
2000
600
13S00
100
400
700
600
C500
1400
100
200
800
100
1100
39,10
3500
3300
100
1000
200
5800
1000
8200
12800
200
800
000
000
700
.'00
300
300
7200
83 &
78 'e
. 03 K
.108
1054
102
. 31
. 43
.121
3o;a
H
. 2Ki
on ','4
Ilaldvvln Loco pf . .
Baltimore S. Ohio . .
4 Baltimore . Ohio pf
8 BarTctt . . . . .
Bethlehem Motors . .
Bethlehem Motor rts, .
i' Bethlehem Steel B .
7 Bethlehem Steel 7.
8' Bethlehem &tl 8 pf 110
Booth Klfchei lea ... . 12?i
BHIvn Rapid Trnnslt. 14 H
MMn II T ctfs of dep. It
6 Brooklyn I'nlon (las. 47
Brum Term & H It. , 7!
.50 Butto Copper & Zinc 8
Butlo . Sup Copper. . 20i
Caddo Central O & U. 21 H
4 l allfornla Packing . . 70
California Petroleum . 43
7 California Petrol pf . 75J4
2 C .ilumet & Arizona , . 02
10 Canadian Pacific 133M
7'Caso J I Thresh M pf. 07
5 Central Lcuthor .... 3H
4 Cerro do Pasco Cop .. 53V4
4 Certnln-tced Prod . 53
8Clnndler Motors ..117
53i
8
3V
50 a
80
1 hoMapeako & Ohio
Chicago nt Western,
I Chi Gt Western pf . .
Chi Mil S. St Paul .
flit Mil & St Paul pf
7 fhl & Northwestern
8 Chi v. Xorthvvest pf.110
Chi Iloclt I si & Pac 24 y,
0 Chi It I S. Pao C pf. CO',4
7 Chi II I ft Pao 7 pf . 74.J
5 Chi St P Minn &. O ... 61
chllo Copper 18K
3 Chlno Copp r 34 H
Cle Cln Chi ft St L . . 4
6 Cluctt Peabody 80M
Coca-Cola 38H
3 Colorado Fuel & Iron. 39 H
Colo ft Southern 20 Vt
09
00M
1314
37
29J's
4 Columb Gas & dec . . o;
1 Col Graphophono .... 01
7 Consolidated Clear ... 03 H
7 Con Clear pf 80
7 Consolidated Gas .... 85
. Consolidated Textile . 31
. t Con Textile rts H
7 Continental Can 88(
. Continental Candy . 13
. Con Interstate Cal M. 10
.. Corn Products lief... 85?J
7 Corn Products Hef pf.100
12 Cruclblo Steel 200'i
Cuba Cano Sugar . . . 51
7Cuba Cano Sugar pf.. 85H
7 Deero & Co pf . ...
9 Delaware ft Hudson
. Denver &. Ilio O pf
3 Elk Horn Coal ....
Thnerson-Brantlnc .
7 Emerson-Brantlne pf. 014
5 Dndleott-Johnson . .130
7 Bndlcott-Johnson pf.,104
. Erie .' 13H
.. Erie 1st pf . 1 20'
Erie 2d pf 1
8 Famous Players-L . . . 89
2 Federal Min 4 Sm pf. 25H
. Fisk. Rubber 1!4
2 Frecport Texan . . 38
2 Gaston Wms & Wig.. 17H
6 General Cigar ...... 70
8 General Electrlo 100 'A
13 General Motors S20&
0 General Motors pf . . 89 4
6 General Motors deb . 80V4
4 Goodrich B F 80
Granbv Consol M & S 18
7 Great Northern pf ... 77
4 Gt Northern Oro ctfs. 37
Greene Cnnanea Cop . 34 V4
Gulf Mobllo & North.. 8
. Gulf States Steel . . 04 Vi
7(iulf States Stl lBtpf. 02!'z
7 Illinois Central 80
C Inspiration Con Cop . 49?a
.. Interbor Con Corp ... i'A
.. Inter Con Corp pf ... H'i
Int Agrlcul Corp .... 104
C Int Harvester 128 4
7 Int Harv pf new 113
.. Int Mer Marino 49
0 Int Mer Marino pf . .104 "4
.. International N'cltel
International Paper.,
8 Inter Paper pf stpd.
. Iron Products Corp .
Jewel Tea
7 Jewel Ten Pf
2 Jones Bios Tea .
Knn City Southern . .
4 Kans.ia City So pf . .
4'Kelly-Spg Tiro . ..
trnnocntt Conner
1400 1.20'Kcstono Tiro ft B-ub
1700 0 Lackawanna hteei .
400 Lee Rubber & The
3700 3.30 Lehigh Vallej!
500
22
. 76 K
. 78
. 3014
. 17
. M
. 26H
. 14'$
. 43
134
. 2814
. 447'a
. 85
. 35 14
41J4
U Liggett ft Mjers Tob.107
45
94
01
oil4
121
52 4
99 y,
131 Vl
47K
11 V
23 H
llli
46
104 H
00 V4
37 H
04 tt
9514
104
4314
1354
93 54
0914
360
90
122 Vl
103H
60
10
55 li
co
84
82 u
77 s
lis
lSVi
10 i
102
2S,
41
122 U
29
Vi
89 H
00 V
110
13 K
14
9 la
40
H'4
8?t
23
20'
75 li
42 'a
76
r.oj4
132
97 4
01 14
52 4
63
117
52
7 94
21 !4
34 ft
492
85 S4
118 H
34
60
72
111
18
34
43
894
38 14
37
20
03
bi '4
01 '4
79 Vl
8J
31
H
88
11
1814
8l'4
10b
1994
49J4
8314
90 J4
90
12
25's
27 !4
88
132 Vl
103H
13 K
1014
14 '4
8H
25
40 ,
36H
17
08 H
100
314
89 'i
80 14
78W
47
764
364
341,
7!4
64
0214
88
49
3Fs
1214
19
12714
lll
46(4
103 J-i
20 54
7t
77
35s
1 (4
r l
25
14
41H
131
27 J4
13 !4
8394
33(4
41
194
V
1(4
T4
Today's Net
Close Chse
30
1
45 -94
91
91(4
121 4
54 100 4
13614 47(4
U144-
2314- 3
114(4- 2(4
15 4- 3
100 - Vi
01 - (4
28 - (4
64H- 1(4
95(4- (4
104 4- (4
44 1(4
133 H Vi
044- 294
99(4-
2J0 -21(4
90-3
423M- 2(4
103
38(4. (4
16 - (4
35(4- 194
o?4
00 -
8(4
nt -
78(4 4
l(4-
105-
103H-
103
29
41 -
(4
2(4
94
(4
194
2
1(4
122', 114
29
14-
OKi-
00 -
110 -
13(4-
14 -
11
47 -
7(4-
894
25 H -
21(4 1(4
1
'(4
H
1
34
(4
1
3
(4
(4
1
70
43 -75
-
(o(4-
13394
0794
HU4-5294--3
117
52 -754
21 f
-
85(4- 3(4
118(4 1(4
24
60)4
74 3
61 (4
18M -
31(4- V
43
F99a
38
37 -
20 1
63
0391 ..
63
79- (4
84(4 .
31 (4
(4- 94
88(4- 3(4
13
18(5-
8494- 94
106
202 - S
49- 194
85(4 19
99 ..
9094-
13- (4
20(4
20 194
88 - 3
133- 3(4
10394- 294
(4
94
1
Vi
194
(4
y
4
(4
(4
1
(4
194
Sales
100
300
200
1900
? 2400
1800
200
100
200
100
300
100
10000
uoo
94
!4
1'4
194
74
94
4
13-
20(4
23 -40-30
.
17 -
00 - (4
166(4 (4
31794- 4(4
89(4- 1
86
7894- 2(4
4794- 94 I
76(4- ,
36 94
34 83(4
88 -49-
4(4 .
14(4 2
1994-
127(4
111(4 29,
17(4-
94
103 yh- 1
nt- 94
76(4 (4
78 1
35(4- Ti
,W lf4
S5 - 1
14 -
41 1
131 74
28 - !4
43 Vl- Vi
83 ..
35 li
41- 94
197 - 2
Loose-Wilea Bltcutt
12 Ixarlllard P Tobacco .180(4
7 Louisville & Nnshvlllc.100
7 Manhattan Elov guar, 49
Maxwell Motor 3594
. Maxwell Motor ctfs... 3394
Maxwell Mot 1st pf
Max Mot 1st pf ctfs
Maxwell Mot 2d pf
Max Mot 2d pf ctfs. .
7 Mny Dept Storea .
7 May Dept Stores pf
lo Mexican Petroleum ,
3 Miami Copper
Hlfh Low
69 09
3500 1.20 Mlcfdlo Stales Corp
11100 4 Mldvale Steel ft Ord.
400 Minn ft St L new,. ..
200 7 Minn St I' ft S 8t M,
200 7 M St P ft 8 St M pf.
1700 Missouri Knn & Tex.
200 Mo Kan ft Tex pf
3100 Missouri Paclfla ...
3600 Missouri Paclfta pt.,
900 .1 Montana Power . . .
300 3 Mulllns Body
1000 3 National Acme
600 Nnt Aniline & Chem
100 7Nat Aniline & Ch pf
lloo Nat Conduit & Cable.
900 6 Nnt Enam ft Stamp
600 5 National Lead 70
100 Nat It It of Mex 2d pf. 4J
200 New Or Tex ft Slex
300 1.50 Nevada Con Copper
200 10 New York Air Brako,
3530 6 New York Central
07
07(4
30
. 10(4
117
108
102
21
63
49
1294
MJi
91
0
13
, 2494
30
67
40
, 3894
CO
8994
io(4
80
J00 2.60 Now York Dock pj
300
100
4800
300
2100
100
5300
000
3f00
1400
500
500
1000
300
400
18200
0000
2400
400
14200
600
1300
6000
1400
100
100
3700
22100
200
COO
400
3500
1100
800
1200
2300
1700
800
600
16300
100
200
New York c ft St li .
N V Chi ft St Ij 2d pf
New York N H & H
New York Onl ft W . .
Norfolk & Western
41
13
110
f8i
30(4
28
46(4
7
1694
09
Norfolk & Western pf . 67
Northern Pacific) .... 7S
Nova Scotia R & C .170
Ohio Cities Gas .... 4894
.50 Okla Prod & Ref . . 9
Ontar'o Silver Mln. 9
3 Otis Elevator 131
Otis Steel 35
3 Owens Bottling Mach. 57
5 Paclfla Gas ft Elec ... 61
6 Pan-Amer Petrol & T.103
Pan-Amor Pet rts ... .
Pan-Amer (B) .... 95i
3 Parish ft Bingham . . 43
.1 Pennsylvania II II . . . 40
. . Penn Seaboard Steel . 33
Peoples Gas Chicago . 34(4
Pers Maniuetto ..27
Peoria ft liastern ... 13
Pcro Marquette pf ... 48
i 1'ero Mani prior pf . . 65
3 Philadelphia Co,. ... 30
Plerce-Arrow Motor .. 77
Pierce OH 19 54
PlttHbuigh ft W Va .. 25
6 Pittsburgh Coal of Pa. 0354
1 Pond Creek Coal .... 20
8 Pressed Steel Car ... 98
8 Pullman 115
5 Punta Alegro Sugar .. 91
2 R.iy Consolidated Cop. 30
4 Reading 76
Remington Typowrlt.. 90
. Rcploglo Steel 49
6 Itcpuhlh Iron & Steel. 108
7Mlep Iron & Steel pf.. 104(4
4 Itepub Motor Truck.. 5
11200 8.70 Roal Dutch N Y
100
2000
400
200
100
2400
1200
600
100
2000
14300
300
14100
0800
1200
8100
20100
200
300
000
1 00
1200
100
1800
100
35100
200
200
9000
21)00
300
800
500
600
100
100
18100
23500
6000
GOO
100
16CC0
200
600
400 3
93100
400
6000
700
2700
1000
100
100
100
1900
1800
400
1000
900
100
200
1U0
1000
7300
1300
10G0
8500
300
300
200
200
1000
200
90
13
16
21(4
14
1 St Joseph Lead
. . St li San Francisco.
. St L San Fran pf.
. St L Southwestern.
R Sav age Arms 75
. . Saxon Motor 10
. . Seaboard Air Lino ... 754
Seaboard Alf Lino pf, 13
1 Shattuck Aria Cop ... 11
. Shell Trans Trading. . . 70
Sinclair Consol OH .. 14
0 Sloss Shcff S ft I ... 70
6 Southern Paclllo ....100!4
. Southern Railway ... 21
5 Southern Railway pf . 65
4 Stromberg Carb 74
7 Studebaker 105
5 Stutz Motor 108
3 Superior Steel 13
. . Tenn Cop ft Chem . .
. . Texas Co
. . Texas & Paclfla ....
.. Third Avenue
6 Tobacco Products . .
7 Tobacco Products pf.
, . Transcontinental Oil
6 Transuo & Wm Steel .
1 Twin City R T
Vnlon Oil
10 Union Paclfla
4 Union Paclfla pf
1 United Alloy Steel . .
. . Un Ry Investment . .
. . Un Rv Invest pf . . .
. U S C I P ft Fdry.
5 U S C I P & Fdry pf
. . United Retail Stores
2 U S Food Prod 81
8 U H Ind Alcohol ....10394
7 V H'lnd Alcohol pf .101
. U S Realty & Imp... 3854
8 V R Rubber 123 i
8 U S Rubber 1st pf ..111
BUS Smelt K ft M
,50 U S Smelt It & M pf
6 U H Steel ,
7 i; S Steel pf
(1 Utah Copper ....
. . Utah Seo
. Vanadium Corp 57 Vi
1 Va-Carollna Chem . . . CGJs
8 Vn-Car Chem pf ....112
. Vulcan Detlnnlng ... 20
7 Vulcan Detlnnlng pf.. 83
.. Wabash 7
Wabash pf A 21
Wabash pf B 14
.. Western Maryland ... 11
Western Pacific . ... 20
4 Western Paclfla pf .. 50
7 Western Union Tel . . 87
7 Westlnghouse A Br. ..113
4 Westinchouso E & M. 63
4 tWhlto Motor 62
White Motor rts .... 2
. Wheeling & L Erie 12
I Willys-Overland ... .20
7 Willys-Overland pf . . 00
6 Wilson ft Co ,. . . 7714
Wisconsin Central . . 30
8 WoolvvortU F W .. .12154
.. Worthlngton Pump .. 84
wens Fargo Exp 54
. 10
.290
11(4
. li
8754
. 09
. 13
. l
. 37
. 30(4
.12254
. 65
. 6054
. 11
. 23
. 20 9s
54
9054
1 I'Yl
17
.103
.113
. 71
. 10
Ex-dlvldend.
t Ex rights
17854
109
18
31
33
00
07(4
30
30
117
10
18546
21
o
16
12(4
71
90
854
n
23
37
5094
46
30
05
8994
10
86
79
1
11
1194
108
07
30
27 54
10
25
10 94
95
07
78
170
17
9
0
130
34
60
60
90
01
11
40
32
33
25
13
48
05
31
71
19
2394
61
23
06
111
00
10
71
80
49
103
104(4
51
94
13
15
2054
IB
71
15
7
1254
11
74
4194
6894
08
20
54
73
103
108
13
954
385
39
12
85
99
38
61
37
31
120 54
01
50
10
22
20
51(4
85
73
101
100
3854
120
111
73
17
101
1134
69
054
65
66
113
20
65
7(4
31
11
11
20
50
87
113
62
3754
1
11
28
89
70
30
121
83
61
2
354
8
Vt
1
'3
(4
1
1
(4
154
54
Today's Net
Close Che.
69 1
17854- 3
109
191
34 - 194
33- 3(4
60
07(4
30
30 .
in Vi
108 254
18-21-61-18-12-7l-91
854
11 23-
38- 1
67
46 -
36-
65-
8954
10(4-
79 -
1
H-
1154
108 -
68
60-
3751 194
17 3
26- (4
10
07
78
170 -17
9
9 130
100-
-
91-
11-
10(4-
33
34
35-13-
!.
05 -
3454-
75(4
10 2754-01(4-
25 3
00- 1
111 - 1
01
19-
71- 1
89 1
19-1
103- 2
101(4
61
04- 39l
13
15(4-2054-
11
74 -
15(4
7 -13
11-71-1194-
6854- 1(4
0054- 94
21 -64V4-
72
10154 108
13
54-
288 ..
10 -13
-86
-99-
38- 1
01
373
30 '-
131(4- 94
05- 3
5054 154
10 -
22- 1
20
51- 294
86- 1
7554- A
103 - 1
101 - 3
3894- 1
133 - 1
114(4 ..
73
17
103-
113
00(4-, 1
8 54 -I
56- 1
866
113 -
20-
85 -
7-
21 -
CONTINUED LIGHT SELLING
IN THE LOCAL FA VORITES
Moderate Offerings Kept Prices Within a Shadow of tin
Bottom Prices of the Year
It wns in the continued heavy Kelt-
,inK of Pennsylvania Knllroad and United
dfts Improvement that interest centered
in today's local market. Tho nil-important
development, however, from n
local viewpoint wns tho weekly Phila
delphia Clearing House statement show
ing for the first time slnco the inaugu
ration of federal reserve system of the
extinguishing of the excess reserve of
the Clearing House institutions. In
other words, Instead of a surplus above
the legnl requirements the locnl in
stitutions showed a deficit of $230,000.
This undoubtedly will be speedily cor
rected, but lt is a hcrious question
whether the cqulibrlum of the local
money market cun now be restored
without further drastic steps in tho
liquidating of outstanding hank credits.
The incident would possibly bo
pnssed over lightly ordinarily, but just
at this time lt served to emphasize the
serious stringency In money market
conditions and practically wipes tAit
the last straw of hope of any nppreci
iihlc easing of money market conditions
during the balance of tho current ml
ciidcr jenr. After the turn of the new
j car matters may tnke a turn for
tho better, but it looks liko a rough and
rocky road ahead for some little time.
The selling of both Pennsylvania
Railroad and United uns Improvement
continued on what could be culled .1
liberal scale, One block of 1200 of
United Gns Improvement changed
hands during (he dny, while tho total
sales aggregated approximately ;t400
shnrcs. Nearly 2000 of Pennsjlvnnii
were turned over. In cither ense, there
wns little change in price, both holding
fractionally above the low-water mark
made Inst week.
Dealings in most all tho other local
stocks was of a desultory chnractcr.
Klcctric Storage Battery made n splen
did showing, selling' nt 132i, ex-dividend
of $2.50, which made the price
equal to Saturday's last quotation. On
the other hand, moderate selling con
tinued in Philadelphia Klcctric. Phil
adelphia Traction nnd American Ons,
(he latter losing $1 at 43.
Last week's low figures evidently nW
trncted small Investment buying o'
Union Traction, w'hlch milled to iM, .
also In Pennsylvania Salt, which nd
vance to 75 nnd Lehigh Navigation,
which wns nearly SI higher at C0V.
Among tho Inactive r stocks limited
nles produced $1 In concessions in
Huntington nnd Iiroad Top common ani
preferred to 4. and 8 respectively. Littli
Schiivlktll regained most of Inst week'i
reaction, rallying over $1 to 43
American Stores was irlso 50c hlghei
at 40. A single transaction of 10(
shnres carried General Asphalt pre
ferred down $2 to 150. which Is $8
under the topnotch mnde Inst mouth.
DIVIDENDS DECLARED
Pan-American Petroleum and Transpoi
Co , Initial of 11,50 a share on common I
stock, rayable January 10 to stock of recon
December 13 '
Twin City Haold Transit Co , quarter)!
of 194 per cent nn preferred. parl Jan
uary 2 to stock of record December 22.
East llutte Copper Co n dividend cf 51
cents payable December 31 to stock nt
record Docem!er 17
Tennessee Agricultural Chemical Corpor,
otton. dividend of 2 per nt on preferred
rayabto to stock of record Novemoer 8
Vheellmt Steel and Iron Co, quarter!)
of 2 per cent, payable January 2 to stock ol
record December 20.
A n. Klrschbaum Co , quarterly of 1
per cent ($1,71) on preferred, payable Jan
uary 1 to stockholders of record December 20
Tloaton nievated Railway, 'quarterly nl
$1.21 nn common. paahle January 2 t
slock of record December 17 Hemlannual
of 13 00 on preferred will bo paid on same
date
Prairie Oil and Oas Co , quarterly it anl
extra $7, payable January 31 to stock of rro
ord December 31 .
Unone County Coal Corporation. Inltlm
semiannual of n per cent on preferred pnv
able January 1 to stock of record Decern
ber 15
Ahmeek Mlnlnc Cj.. quarterly of fl, pal
nble December 81 to stock of record Decom
Oecebln Consolidated Mlnlntr Co . quarterlv
of SI payabla December 31 to stock of rec
ord December 18.
Anglo-Amerlcnn Oil Co , semiannual of 1
shtttlnfra a share, payable January in
Mine Kill ard ftchuslklll Haven .Railroad
Co dividend of 2W per cent, pavable Jan
uary 10 ai registered December 10.
CHICAGO BUTTER AND EGGS
Chtrneo, Dec lr. IlUTTHIl Hlsher
Crenmer, 37ffJ0C
Eacifl HIsHer Receipts 11(1 cass
Firsts 74W0OWC! oVdlnsrv firsts, ORQroe: nl
mark, cases included nsft74c
54
1(4
1
2
M
94
'
1(4
154
1
1
3
11 -
11
20 -50
87
-2(4
,
-89
-
77(44
30
121-
83
1
1
0
94
h
(4
LOCAL BANKS' DEFICIT
MONEY-LENdlNG RATES
NEW YOItK Monev on call, both
mixed collateral and all industrial col-
Wecklv Clearing House Statement! lateral, opened today at !) per cent for
' a Intullnar null renew illff
rl 1 U . I1.J1I.II In i .v..m...b -- o.
onowca ncavy rvcuuw.w
Reserves
For the first tlmo ince the innugii
ration, of the Federal Ilescrvt system
the local Clearing House institutions
this week show a deficit in surplus re
serve The weekly Clearing House
statement reported a decrease in excess
reserve of (J.IOS.OOO, resulting In a
deficit in t.urplus reserve nboyo legal le
aulrements of $230,000.
This resulted entirely because of the
severe reduction of $11,180,000 in the
reserve with the Federal Keserve Hank
nnd other legal deposltorieK. The lia
bilities were slightly reduced by the
contraction of $185,000 In individual
deposits, and $4781,000 in loaus and
discount.
Details follow :
A1.I, MEMIIEItS
Dec. IB. '10.
Ioans . S77O.I131.O0O
Kicvhss CI House. 2R.BOII.OOO
Due from banks . t22.S8S.OOC)
Hank deposits 148,178,000
Indtv deposits . 641,128,000
Tlmo deposits . . 6,504.000
Res, with F II II, .. .
4 leeal depositories 03,281. 000
fash In vaults , 13,878,000
Tctal reservo held . 000.1.000
Reserve required . B1.4VA.000
Fxcess reserve (def) 280.000
MEMBERS RESERVE SYSTEM
Reserve held .... 150,81 4,000 15.U23.000
Kcei reserve (def) 604,000 B.OU,000
TRUST COMPANIES NOT MEMUERH
RESERVE SVSTBM
Reserve held , 18,431.000 1223,000
4M,C!V
Decrease
MM, OHO
81)5,(100
1,814,000
174;0OO
1B5. 11(H)
27,000
8 180,000
SIS.HIKI
8,141,1100
flO.000
e,!D8,UO0
Time money wns 8 per cent hid todav
for nil maturities with veiy little com
ing out nt that quotation. It was
pointed our In the trnde (lint for somt
time tiast theie has been an almost com
plete absence of offerings of time money
and the result was the bidding Vun of
quotations for funds for any given pe
riod. Comnfcrcinl paper was nominally
quoted at from f to (i per cent, but
there was said to have been only a
comparatively small volume of transac
tions in this department.
PHILADELPHIA Call, C percent;
time, 0 per rent; commercial paper,
three to six months, 5 per cent, nnd
six months, 0(iiG per cent.
Reserve Banks' Discount Rates
Official discount rates at the twelve
Federal Reserve Hanks were ns fol
lows :
(The first column gives rates for all
periods up to and Including a fifteen
day maturity, the second for a period
of sixteen to ninety dajs. The third
and fourth columns give the rates for
discounts of collateral loans secured bv
I government bonds or notes:
wm I paper uovc paper
10 to DO In i on
15 days days IS days days
Excess reserve
203,000
MnrfKin.
In addition to the deposit above thero
vera this week 118.040,000 arovernmeat &
pcelts aglat which no reserve (a required.
4i
IN
Ji
neston . ,
New York..,
Philadelphia,
Richmond
eleven
Atlant
rMilraao
all. xiuce,
Mlnneapoll,
If ansae City.
pii2 (r. 5 5
$aa rSi- 1(4 6
4t
nond ,. IS 4
land I. 4 4
ta ... 1 i
(Hit
4 'I 4
4'4 1U OIK
I
nt i
FOREIGN EXCHANGE
New York, Dec. 15, After the open
ing today, when sterling cables sold as
high ns 3,73. there was an enslnir off
in rates to 3.72, with demand sterling-
ut .i.ii'i. iiench checks were H.07
and cables 11.0,1. Elsewhere through
out tho list quotations were only nom
inal. Lire checks were quoted at 13.20 and
cnbles 13.22; Swiss checks B.48 cables
R.40; guilder checks 87 , cables 37 ;
pesetas checks 10.10, cables 10.20;
Stockholm checks 20.f.r. cables 20.70;
Christlania checks 10.00, cables, 10.00
Copenhagen rhecks 17.75, cables 17.00;
Antwerp checks 10.82, cables 10.80, and
marks, 2,00.
The market was quiet.
In the early afternoon stciling and
francs were stronger, ' demand sterling
being 3.73 and cables 3.73. Franc
checks were 11.00 and cables 10.08.
Marks were 2.07,
The entire mnrket showed a slightly
firmer tone,
BANK CLEARINGS
Hank clearlnss today compared with the
corresponding day last two jearsi
. ,,,1 u'8 1
Phils 886,731, 811. $00 1113,803 lfi0.lo2.8S5
Boston 00,324,010 80 744.740 63,881,047
llaltlroore 10,070,003 18.708,003 . 8,383,780
Cloverseed
Toledo, () Dec. 13 CI.OVKRHEED
j-ciiuc, man, jov li iecemoer, au til jan
Uary. 180 40: Feliruarv. I !t(l 41, M. rrhl
830 !3. ALSIKE-i-Prlme, cash. 181 OM De
cember, 131 Oft: March. ISO 00. TIMOTHY
,,'l!'"..,",hi ,01. nl """i l"". 10.40;
cash 1010. IS 00! December. $5,00, March,
April and May, $3,70
LONDON Money is quoted at l
per cent. Discount .rates, hort bills.
t per cent; three-month bljls, 0
pw ecnt,
Investment
Recommendations
THE December Issue of our
monthly publication, "Invest
ment Recommendations," is ready for
distribution. Wc shall be pleased
to send this booklet onxequest, and
to answer your inquiries for addi
tional information regarding sound
investment securities. &
Guaranty Trust Company
of New York
New York London Liverpool Paris HaTre Bruiiels
Capital and Surplus
Resources more than
$50,000,000
$800,000,000
Clayton F. Banks
Correspondent
421 Chestnut Street, Philadelphia
Telephones!
Bell, Lombard 4691 to 4699 Keystone, Main 438
ISSm
Exempt from all Federal Income Taxet
Tax Exempt in the State of New Jertey
$683,000
Essex County, N. J.
4 Improvement Bonds
Dated orember 1. 1919 Due serially
Principal and semi-annual Interest (May l,and November 1) payable at the
United States MortKag-e & Trust Co. Coupon Bonds in $1,000
denomination resrlsterable as to principal or
principal and Interest. ,
Legal investment for Savlncs Banks In New York ajid New Jersey. Ellclble
to secure I'ostal Saving's Deposits.
FINANCIAL STATEMENT
Averajje Assessed Valuation 1917-1918-1919 ... .$591,501,137
Net Bonded Debt (including this Issue) . . . , 10,060,669
Leas than 1991) of aliened valuation
Population State Census' 1915 567,270
Population (Present Estimate) 650,000
Essex County is one of the largest counties ip the State of New
Jersey as to population and values. Included within the county are
the following municipalities Cities of Newark, East Orange and
Orange; Towns of Montclair, Bloomfield, Irvington, Belleville, Nutley.
Caldwell, West Orange, South Orange and Glen Ridge.
The legality of this issue has been approved by John C. Thomp
son, Esq., of NewYork City, copy of whose opinion will be furnished
purchaser. The bonds are prepared and certified as to their genu
ineness by the United States Mortgage & Trust Co. of New York City.
MATURITIES AND PRICES
fgs.OOO Doe ov. 1, 1020 100.39
28,000
18.000
20,000
8,000
28,000
28,000
28,000
28,000
28,000
1921 0 100.50
1023 100.83
102S tP 101.08
1924 101.83
1928 101.00
1020 101.78
1021 102.00
1828 102.20
1020 102,40
833,000 Due Xor. 1, 1930 0 102.58
iul m 102.10
42,000
42,000
42,000
42,000
42,000
42,000
42,000
.42,000
134,000
1932 0 102,08
1983 0 103,10
1934 0 103.25
183S 0 103.40
1030 0 103.58
1937 0 103. eu
1938 0 103.83
1939 0 103,94
Yielding about 4.45
Dctcriptiie circular on jrique&t
Biddle & Henry ' M. M. Freeman & Co.
riillaulelpiiU Philadelphia
National Newark & Essex Banking Co.
Newark, New Jersey
Hornblower & Weeks
New Yorkj tltj;. '
w
.iil
,(.1
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