rift WWW "i-"-"T -T
. A, J..JH. 3.
rr1 .... 4?toi,, mn i r f" ' " ai". ff .1 u '. ' tfw. i . ,..i, '.i.53
S4 -
7
AEWS OF, FINANCIAL WORLDNEW ORK. AND PHILADELPHIA STOCK QUOTATIONS
BffStW
aw"-
,.
W
m
M
JW-
fst
m
Its
Si."
1
hH
f. ,
s 5.
- m
:
The Investment in
Internal Bonds
of Foreign
Governments
offer opportunities that are
well worth investigation.
Wo aro in n position to ex
plain and quote prices of the
various issues.
Edward B. Smith 8TCo.
BANKERS
ESTABLISHED 1SD2
Uemtert NeUI York and PhltaM Mo
Block Bxchanatt
I'lllLADKLI'lIU
1411 Chotllut SI.
SRff VORK KASTON
AM.BNTOWN NKW LONDON
Why Gamble
The great law of Action and Re
action governs both speculative
and investment markets. While
it is impossible for anyone to an
ticipate day-to-day "ripples," the
great major movements are as
regular as the tides themselves.
MESON'S
Reports, based on fundament.'S.stat's
tics, accurately forecast these major
movements. They enable you to tpot
the real "buys" at low tide to sell out
as your holdings reach the peak and
then to buy in again at bed-rock prices.
Report on Requett
Full details of the Babson Method of
Investment and our booklet. " 200
Profit A Recital of Facts," will be
sent to interested investors gratis.
Merely am lor bulletin J4-J of
Balson's Statistical Organization
IVellesley IIIIIk. Mush
Larvtst Organization ot Ha Ciarac-
ttr (n !Jio World
MARKET UNDER COMPLETE
"ir
DOMINATION OF TRADERS
Attitude of Labor Organizations Toward Government Control
Provoked Fresh Selling of the Rails
NEW YORK STOCK EXCHANGE TRANSACTIONS
New Yorlt. Dec. IS. Any lingering
doubt as to the ultra iirofesslonal caliber
ot the current stock operations wore!
..-uuijueiriy (jiijiciieu i)j- i up nervous uii'i
mercurial fluctuations in today's mar
ket. It wni virtually the snme glvc-nnd-tnkc
nlTnlr of the immediate pre
ceding sessions, with this otic exception,
the swing of market pendulum was in
clined to swing downward. There were,
however, uo great depreciations suf
fered in stock values, neither was any
great amount of lone stock dislodged.
On the contrary, whnt most of the
traders sold they bought back again, or
what others bought they Fold. Ho it
was virtually n clcancut case of swap
ping horses.
Whereas in the preceding session
everything in the way of news and tlc
cIopments was seemingly in favor of
the constructive side, today it was de
cidedly In Wvor of the reactionists. The
latter, however, were not dispo-cd to
piny any stronger game than did their
bullish brethren yesterday with the
budget of good news which bell mi their
lups.
Mutters generally were most un
promising from the outset as n result
of the overnight news concerning the
attitude of labor organisation" toward
government rnntrol of the transporta
tion lines, 't'o make things mote un
pleasant, later in the morning came
the news of another abrupt break In
Iiritish exchange, which foil f cents
under yesterday's finnl quotation. The
Mexican news likewise was anything
but reassuring,
The rails were lower by fractions
to 1'i points t the opening and the
weakness of this division logically pro
duced unsettlement in other parts if
the list. The mils continued to lose
We Offer
City of Phila.
3's, 32's and 4s
CORN CLOSES LOWER
AFTER ERRATIC DAY
ground as the morning wore mi, low
priced Issues falling 1 to I points with
the standard shares. Ueacllons ninoug
the nil, motor and steel shares also In
creased. The break In Texas Co.. which
appeared to lack support, was extended
to If! points. The shipping, equip
ment, leather, tobacco and food shares
fell 1 to 2 points.
It was obvious, despite the gloom
which seems to pervade nil quarters of
market circles, that dealings were al
most entirely professional, the room
traders nnil the semiprofessioual ele
ment offered stocks freely all nrmiml
the room, but there was little outside
supply. This fact served ns mi auto
matic brake upon the bearish opera
tions, and in the second hour there
was nn appreciable lessening ot pros
Mire iu nil directions.
The insecurity of the bearish position
wns nttestcd in the rallying Icndency
which followed the reduction of the re
newal rnte for call money to (1 per cent,
against 7 per cent yesterday. The
rally was without special vigor and wns
followed by fresli recessions, which,
however, resulted more because ot the
extreme narrowness of the market mid
complete absence of speculative interest.
Metal shares were brought forward
dining the dull noon hour, their nd
vnne" concurring with reports of fur
ther sales of copper and an advance
in the price of lend. American Ziiu
preferred. American Smelting nnd Ana
conda. I'tali, Inspiration and Oerro D
Pasco ('uppers were carried up 1 to ."
points.
Moderate buying of the sugar stocks
and irregular rallies in oil shares were
the onlv features of the listless final
hour, other leaders were again inclined
to move downward
TRADE SLACKENS
Satis
.100
ft)!)
ion
fl "ton
2900
2S00
K00
2110
2100
J5100
100
s.00
301
.-too
50U
200
too
200O
100
100
U00
2CC0
5200
too
tooo
loo
2700
loflO
MOO
0700
loo
200
(100
200
C.0II
MOO
7110
too
too
.'1100
1.100
70ft
MI0
:isoo
ami
Biddle & Henry
104 SOUTH FIFTH STREET
Periods of Weakness and Firm
ness, With Price Move
ments Feverish
Portland Ity.. l.t. & IV Bs, 1012
t.'nitrd Has A I'lrc. (i. loir,
Market Kt. i;irv. 1'ni.s. Hj. 4s. 1035
I'. O. I. (Ik. 1020
Trillin. Eire. ITs. 1020
LiiTcm County tins T.ler. Ss, 1018
Halo & Kilburn S, 1039
Tons, Tract. (V. J.) fls. 1933
1'lillH. Co. Cons. 5s (Mumped), 1951
HENRY l,. BOENNING & CO,
STOCK EXCHANGE DUIIJHNO
Illrrt liivati Telephone to New York
Members I'htla, Htot'k Kxchnnca
FINANCIAL
PIvMfniU
EAST COAST
FISHERIES PRODUCTS CO.
J Wall Strcrt. Xfw York
DTfmber 10. 1919.
TJlYinEND No. 1
The Board of. Director!! of this Company
has declared n. quarterly dividend of X1
rr crnt on, tho Preferred Stock, payabln
.lamiRrr 1st. 1950. to stockholders of record
Pccember 2T. 1819.
MARK W. NOJtMAN. Trraarfr.
EAST COAST FISHERIES CO.
WU Strert. Ntrr Tork
November IB, Jl.
DIVIDirND NO. 1
Tb Board of Director! of thl Comoanj
bi declared a quarterly dividend of 1 par
ent on tbe Common Stock, payab'a Jan
nary lit to atockholders of record Decern
tr 27. 1019.
HARK IV. NORMAN. Treaanrer.
EAST COAST FISHERIES CO.
7 1Vn.ll Street, New Tork
November 18. 191.
DIVIDEND NO. 8
Tbe Board of Directors of tbla Company
b declared the regular quarterly dividend
' ef 1 per cent on the Preferred Stock.
payable January 1. 1920. to atockholdara of
record December 27th. 1919.
MAUK w. NORMAN. Treasurer.
ortAis nKLT AvriATHnn FOttnCAsi""
Clilrniro, Dec. 1S. Illtnola Fair Roulh.
unsettled north tunlht and Friday, prob
ably light snow, warmer south tonight.
Missouri Fair tonlRht ard Friday; warmer
eaat tonleht. colder Friday. Wisconsin and
Minnesota t'naettleil tonlitht and Friday
with llKht enow, e-ilder. Iowa Fair weaf.
light tnow aet tonlsht: Friday prohnblv
fair. North I).-;kota. Montana amlVyo
mlnit Fair tonight and Friday, except rnlr:
or -nw west. South Dnkota. Nebraska
and ICansaa Fair tonltrht and Friday:
colder.
Chicago, Doc. 1S. T'rico movements
in the corn market were feverish to
day with periods of weakness nnd firm
ness. The start wns lower, under
fairly general selliup:. Later there were
frequent rallies, 'which failed' to hold
when Inlying oeased.
A short while before the close, ex
tensive covering by shorts, liroiiRlit
nhnni- liv hids for vvp from the sea
board, with more thnu 1,000,000 bush
els of that grain sold for export before
the close, promoted n good rally.
Thereafter to tne end me ciianKi-n
wtre mixed, but the clop wns lower.
December nipeared to be tight at times,
RB
KCT
Dealings in Comparatively Few
Issues, and These Move
Irregularly
ASPHALT MAKES GOOD GAIN
New York. Dec. IS. The market on
the lli'ond Street Curb showed a con
siderable fulling off in volume of busi
ness today, only n comparatively few
issues being actively traded in. nnd
thee moving in1 an irregular mnuner.
Ocnernl Asphalt was the most pnnn
ireit feature, moving up more thnn 5
points to above 112. There was n
good demand for Simnis Petroleum,
which sold early in the day at (i.lii.
Indian Packing was fuirl active, first
advancing to 1!1 Vi and then dropping to
-0'i- (Jenerul Motors was firm, telling
at ::i to :utu.
International retroletim wu again in
demand, moving up from (il)i, to (1'J.
Texas Co. was heavy in unison with the
2j,'l,s,m',c,m ,1p exchange, selling at
(jOr,s Jo fiS. Carib Syndicate ranged
from .n to fiO.
in supply.
Aetna. Kxnlosivcs was
Jan
May
Oats
Mev . . . S.",i
Julv .. 77'
Pork
Jan. ...37.00
May ...atl.H.-,
Lard
Jan. . . .22.0.1
Hay ...23.70
Itlba
Jan
May ...10.00
tAsked
T.ow Close
1.1(1' 1.47
i.to 1.43 i.ati'4 i anjj
I.Rll'i 1.-18 l.B5't l.BS'i
Test.
ClOBl,
1.471
78S,
s:i
774
SI'.i
3I1.8S 3n.4.ri
2.1.20
21.00
is.r.0
10.10
22. SO
2;i.r;o
18. so,
18.85
a-.oo t:i7.io
BII.II2 taii.o.'i
2a.on t2-i.it)
23.S7 23.80
1S.47 18.M
18.97 tlB.lt)
u,iieayy, laiimg from
jinuTican nitlelj Haze
lVO.s to 1
15', to 143;.
tinged Iroin
";s. I.oews showed u stron
owing to small stocks and fears of eon-I yielding to Sn. and Submarine lioat
tinned light receipts.
Onts, generally, were weaker, al
though the list at one time made a fair
rally. The market was under pressure
of realizing sale.
It was reported that exporters had
withdrawn their bids, which, together
with larger offerings to arrive, the drop
in foreign exchange, and the embargo
bythe Grand Trunk, favored the bears.
Leading futures ranged as tonows
Corn (new delivery
Open Hltfh
rec. ... 1.47 i.4iii ;;,
cr tone, moving up from UO'i to !1.
INDL'STUIAI.S
HlBh Low
Aetna, Coal
Acnia Cnjil T,
Aetna Hxiilos ......'.'.'..' .' si;
Lmr Hatety Itaior IT.
Annual Mpetlnga
t fK"SITIIE ANNUAL 5IEI7TINO OF THE
"-t stockholders of the Cambria and In
diana riallroad Company will be held at
the. office of th Company, I .and Title
llulldlne, Philadelphia. Fa., on Tuvsdar.
January SO. 1920, at 11 o"clock a. m.. for
tho election of a President and six Direc
tors, and for the transaction of any other
builnese which may properly be broucht be
fore eald meetings.
. J,, a. BAM,, Secretary.
KS5TIIK riUlVJDKNT I.IFK AND TKUHT
UaS? COMPANY OF rHILAlEI.PIIIV
The Firty-flfth Annual Meetlmr of The
Provident Life and Trust Company of Phila
delphia will bfl held at Its oftlre. Fourth and
Chestnut streets.
tbe
on Kfconjl Day (Monday),
of I Irst Month (January)!
h 'lu'eiiTii imt or irnr lnnti. r.r.,,. ,'
,-r . ..,: ... : ",iui,rj;.
ivav hi in o riut-H , in. An election of
five Directors to serve for thren years will
b held between the hours of 10 a; m. and
" "' m' MMXAItD C. ASHTOV.
Secretary.
iI-SCOUNTV FIP.i: INSIR.WCF, COM.
PANY OF PHII,DF,r.PIIIV
The Annual Jleetinir of the Hockholder.
will be held at the home office of the
company on Slonday, January m. ino ?
IS m.. for the election of directors and' the
transaction of auch other business SS ma.
coma before the meeting. "" nIa
F- C. MARTIN. Secretary
T1IK ANNUAL JIEKTINO OFTiTr
stockholdera of the Olrard Life in'
e Company win be held on Tli,.e.j.'.Q
January 22. IDSU. nt s n. m at tho nffTce
rf the company. 629 Cheftnnt street. Phlia!
delphla. for the purpose of electlm- a Hoard
of Director" and for the transaction of. eueh
other business as may properly come before
the meetl''"- .
ALBERT SHORT.
Secretary.
.'t-SS.TlIK ANNUAL JIP.lSTINd ni Till"
iiSf? Policy Holders of the Jlanlon litn,Ii
rtr Insurance Company will be held it 1 hi
5mee of th- Company, 414 Wlrtener Mufldlni
on Wednesday. January 20. 1020. at Si
- m.. to elect dlrectoroto serve for the ensutn.
lr and transact a;y other buslnesa tha?
nay legally come before jhetr,. " '"
"'1. mYA. Secretary.
L. . ,t-",E AS,'Ai'P Smwk
; . '' r ....i:-ys5,"aiss -.? io,
.-jlfectori ofthla Bank will b..cV ,g
f- Lever ns, st.. ,,m Tuesday, January is
j jeSQ. between tlio hour, of 11 , , njj
f A m EUdBNE J. JtOItRIB.
THE OUAKKl'i CITV NlTir,v.,
HANK OF PHILADELPHIA, pa
. , .. "-"cember 12, imu
The Annual Election, of Dlfrtorn f in.
bank will "if ,",?,, 5, . 5nkln(r house on
iieaday. the 13tli ajy of January. 1020.
, tetween the hours of 12 end I p. m.
V, r; HAND.
Cashier.
'inu rmLADELpjjiA national
TiftBetn),tll. Tl..ml... 19 nn
.,." ---,-"""-.. "( JV1V.
rh Annual jviecnon xor Directors -will
L v.aI.1 nt the banklnr hnnM nn ,..j-.'
t3tairrj.iy. 1020. between the houra of la
tf a,ia X V- mb. HOWARD WOLFB
, , Caahler.
.fjP2' , '
Artjentlna xportep of Linseed
Jweos Aires. Dec. 18. Out of a
;4io4l of 000.000 tons of llntwed ei.
,, $&iM by Argentina this yenr, .tr.0,000
jSqili yerts uhlpppd to the United States,
jwwreing to custom house figures. Ar-
BhHi.' oxporU of linseed to the
United States in 1013 amounted to
'vfetween
Philadelphia Slocks
Net
(.'lne chire.
sni. y.
iri -fl "
s ..
Illah Low
240 Am Strs. M)-H .IO'j
fiO Am Oas. -jri 45
88 Am Mill. 8 S
100 tAsso Dry
Goods.. 00 C.0 CO -1- lit
00 I'rill J G 47 47 47 . .
400 El Stor.. 132V4 lf!ii 132,4 14
10 I C N A. 35 35 ."..! . .
1215 r.k H Cor 21 20 20 . .
372 Leh Nav. 02 (i(Vs (iO'i Ji',
82(5 l.eh Vnl. 42V4 -! i -H'Ji 3j
1 N Penna SO 80 SO 1
232.8 Pa rt n. 401a -io ' 40is
115 Pa Salt.. 75 7-1 ',4 75 ..
521 Phila Co
cum pf. 32 32 32 1
847 Phil F.lec 2H 24', 24 i...
340 P R T tc 27 2(1 27 Vi
2t;! Ph Trnc- 50 50 5!) , .
500 Ton I5el. 2'i 2,V 2
lOOTonMin. 2 2 2..
410 TJn Trnc. 31 34 31 ..
10 tUn Itys
Inv ... 10H 10',.'. 101, aj
1210 11 Ol.. 52 5t?i "-
3 tj C NT .1.102 102 102 . .
tNfct chanso made bv comtiarlnon with last
eato on New York Stock Kxihanse.
Total sates. 10.0S7 shares, compared with
15,41):' shares yesterday Thus far this
week, .t-'.0!H shares. Same period last
ureek. f.l !)()().
Hales 111 . IIOXIIS
$10i)0 High Loif Close
J.Z Alaska uoiu
Mine t!s. . 1ft
'5 Eleo & Peo
Tr 4s . . . am 1
7 l.eh Val gen
4s 00'H
0 Leh Val ann
41jb .... 78 77 77 '.&
0 l.eh V cons
4,s 2003 77 77 77..
24 Lib Honds
3d 4is.. 03.00 03.52 03.00 .20
7 4th 44s. 01,38 1)1.51 01.58 .22
1 Vic is... 08.02 08.02 0S.02 .10
Heaver lin-ini ntn
Mrit-Alnpl 'IVit emiMni"
Car Lleht "..'...:.
t'olumbla Kmerald
Uafoe Kustice
Oen Asphalt
Oen Motors
Havana Tobacco
Hl.jden Chem
Hupp .Motors '
Indian Packing: ..... .
liew'H -Inc
Mercer Motors
Mont Ward '.
Nat Firenroof
Nor Am Taper
Perfection Tire New , .
Republic Tire Rub
Solar Light
Knows Mountains
Hpleer Mfcr .
Submarine llnar
1 Triangle Film
u m steam
United Retail Candy .
United ProlU Sharlns .
United Plct Plod ... .
V Vtvladou Inc
Warren Hros
Wayne Coal
STANDARI1 OILS
Ansln-Am Oil 30
H Oil of Cal 3
S Oil of N J ...... .T'tl ,
H Oil of N Y .. .. 43'
15', 1G
50 y, . .
(50-Ji-f
77
Net
chgd.
'
50)J
00-J't
801.
711
78
-1
13 Pa gen 5s. 80 SO SO V4
11 Pa gen 4M.-S N)V! S" ()'.. a.
1 I'eo I' t c 4s u (ii
1 Phila Co
cons 5s . . 78 7S
13 Phila Hlec
1st 5s.... SS 87 S7 1
30 Head gen 4 s 78 78 78 H 4
Bonds, Slsn.OOO, compared with ;ilin,:.0(i
yesterday, Thus far this week, lOSJ.C.'u.
Uame period last week. 1339,70(1
Extra by American Shipbuilding
Cleveland. O., Dec. 18. The Ameri
can Shipbuilding Co. declared the regu
lar quarter dividend of 1 per cent
on the common stock and thu usual
extra dividend of 2V4 per cent on the
common stock, payable February 2 to
stock, of. record January 10,
BAR SILVER
Commercial bar ".liver was quoted in
New York today ut $1.31 an ounce, nn
advance of e. In London the price
wns d higher, at 78d
. now
. .'l'i
. II'm
.ll.-i
. 341$
'?
34h
:&
8?i
. 4
. . II'.'
. 1.1
. IIS
1 .".
: it
HI?
l'i
s1.
s
17
!)0
Ml
.1
JO
, bi
.I7',a
110
11
II III
34
(I
llli
M'i
llll'i
JS',4
4"li
P.
11,1
17i
I?"
1 I
11
111
111
',i
14 f,
.II,
41
s;
1.1 t
IS
30
rt 11 1
.111
.11111
1(14
11
.;
i;
INDKI'ENDIINT OILS
Alliance
Allen I .
Allied Oil
Arltes Oil
Hell Pet
Uoaton .Mexico
tioston wj-omine .
Ilrazos Oil
Ilurknett Van t'lcuvi
Carlb Hvn .
Cities Seiv II ctfs..
Unmlnlon
i:ik 11.1 R I II Pel
I'amcrdlda oil
icuerai ui
ii lllanr
Ulenrock Oil 35;
3
Us
:ii
4-J
31
o
in
vi
i!
on
-'11
33
HI fit
Nj
on . . oil
(iufrey (Jlllesple ....
Homo Oil
iiuaton oil
Houston Oil
Int Petrol
Island Oil
lndlalinmj lief
Livingston
Magna
Maracatbn
Mcrrltt Oil
Metropolitan Pet
1'ennoK Ull
Prod & Itetlneia. . v,
Hlckard Texaa ..?.
Ityan Oil
Halt Creek Prod . . .
Sequoyah Oil
(4kelly Oil
Holar Light
ISiinins Pet
Spencer Pet
Texas Cn w 1
Trinity Oil
Vacuum tlas
Victoria. Oil new . . .
Whilo fill
White Uaale
Western states . . . . .
Woodhurn
. 3D
7
illlll
. at.
!!
. n
. L'7
. Ill
. 3
. Id't
. Wi
!,V-
mi'.
m
0llhi
I
i
1
ill?.
ni
r,
IK
3!4
3.-14
7V-J
1
l.-.s
litii'j
o'.i
10
a'
,
211 4
isi
JM
ii
Ki'i
ill
11
15
ill
1074
ns
1
iii
41l
HIU
3
mi
ji
s
4S
3.-.W
111
on
'!!u
t
'JU'i
IS 14
3
111
10U
s'.i
S"
il..H
Hi"i
so
1
U
1-i
114 4L'
.'in! jt.-'i
Hi l'i
MINING .S'KICKH
Alarka-Urltlsh Col
Atlanta
Helcher l)llde ...
Helcher Extension
Pooth
Poston & Mont. ...
Caled Mlnlnc
Cunada Copper . . .
cons vlrKlniu
Cons Cop M
t'reK&on Gold , .
Divide Bxtenalun
1 Salvador
Kureka Croesus , ,
It) Mining
Gold Cons ;.,.
Gold Kewanas .
Gold Merger t . . .
Gold silver Plik
Great iiend
Gold Zone
llecla Mining
Knux Divide
Louisiana Co t
McNamara
Marsh Mining
Mother Lode
KfniViar l.nrla Ttu .... ...
National Tin !.,.
Niolsslne
North Star (I
Onondago ... . 1114
Ohio Copper A
Ilex Cut's "
Rochester Mines ...i 23
Jlopc Group vV
Han Tpy . 7
tiei'ji. Ponoer ........... 14
Silver Klnr pf Arl...... rV
..''
21
34
n
75
32
!4
11
O'i
r
3
3
S
'.'Ii
211
if
44''4
JS
6.1
1ST.
IX
31!
.',
71
32
fill
:V"
3?
18
33
.
7S
1
.'. 21)
0! ,!
2B 2S
03, 53
1H4 5i
.1114 0i
law 124
7''
14
23
7
14
Dlv.
'" ' a 1 HlBh
. Adams Kxpress 31
. . Advance numely .... 4SyJ
0 Advance Ttumcly pf .. Ufa
1 Ajax Ttubber svt
AlitBlta Clold Mines... lj-i,
. Alnslta Juneau Oil,., a1,
.. Allls-Chalmers Mtg .. ia
8 Am Agrlo Chcm oti
8 Am Beet Sugar ISS-i
. . Am Can 5IH
7 Am Can nf nM
1 Am Car & Kdy ....1.18i
4 Am Cotton Oil 41J4
.80 Am Druggist Syn .... 1?
. . Am Hldo At Leather . . S.tJi
' Am Hldo & Leath pt.UHb
.. Am Ico 47'4
Am Intemnt Corp ...108U
3 Am Unseed 08H
7 Am Linseed pf Wi
l Am, Locomotive 94
.. Am Ship & Commerce. 28
4 Am Smelt & Itef 09
1 Am Smelt & rtcf pf... 95
3 Atn Steel Foundries .. 45
7 Am Steel Fdrles pf . . t4
7 Am Sugar Ref 130
lo Am Sumatra Tobaa . . 0094
5 Am Tel & Tel 100J4
Am Toil Sco temp ctfs. . (16"8
Am Tobacco ,20
Am Tobacvo pf now . . 9S'4
7 Am Woolen 17 14
Am 'Writing Paper pf . 5594
.. Am Zlno Lead St Sm.. 17
4 Anaconda, Copper ... SH
.. Asso Dry Goods C0
Af-so Dry Gt1n 1st pf . . 12
7 Asso Drv C!1h 2d pf.. 3J4
II Atcli Top & Santa Fe. f3V4
H Atcll Top & S F pf... 7714
-J'Allantlo Coast Lino .. 04
10 All Gulf SWI8 S...173I8
20
(1
Auto Sales (' tern ctfs. 2094
3 Auto S (' leni ctfs nf. 3494
2301)0 :i,30 Baldwin Loco
3500
2,0II
100
(i'JO
HOO
7000
too
00
100
2.500
MO
1700
1(10
(id II
HOO
3.M0
HiOO
100
100
1000
300
200
2000
10O
2300
01)
.00
200
400
2.70O
2 100
4100
(J0II
."00
3300
2100
200
1400
800
400
200
2 tOO
I0O
2700
1100
2000
201)
S01
.0(l
200 )
3310
too
7410
SOO
300
100
290
300
200
300
l.iOO
1200
300
700
100
3100
1000
200
1200
400
300
33110
300
1200
400
4(1011
SOO
500
1(11)
300
100
10(1(1
K00
31011
700
1400
400
100
4000
3!)00
5000
100
2800
1100
700
200
700
100
31)0
200
10 100
I too
8'JO
. Baltimore & Olilo .
4 Baltimore & Ohio pf
S'Barrett ..,
. . Bethlehem Motors .
. . Bethlehem Motor its.
Bethlehem Steel II
109 Vi
. 30',
. 4094
.121
. 2014
. . Ca
94
I! Bethlehem Stl 8 pf .111
. Booth Fisheries 1394
8 Brooklyn ICdlson .... 85
.. Bklyn Rapid Transit. 14H
. . Bklyn R T ctin of dcp. It 9i
li. Brooklyn Union Gas. 42
7 Brown Slfon pf 100
III Burns Bios 119
.30 Butlo Copper & Zlno.. 994
.. Butto & Sup Copper.. 27 H
.. ButlerkU Co 28 Vz
.. California Petroleum . l.T4
2 Calumet & Arizona .. (094
10 Canadian Paclflo 13478
7 C.nBO J I Thresh M pf. 0894
4 Certaln-tced Prod ... 55
5 Central Leather Bl'a
7 Central Leather pf ..10894
4 t'erro tie Pasco Cop .. 5(!J4
8 Chandler Motors 12294
I CliesapenltH & Ohio .. 534
. Chicago Clt vcstern. . 714
1 Chi Gt Western pf . . . 314
. Jill Mil & S Paul ... 27 Mj
. . Chi Mil & St Paul pf . 51 'A
7 Chi St Northwestern. 80
. . Chi Rock Isl & I'ao. . 25
7 Chi R I & I'ao 7 pf. 09 y2
. Chtlii Copper 1094
3 Chlno Copper 30
Clnctt Peabody 92
Coca-Cola 30 54
3 Colorado Fuel & Iron. 39 Vz
Colo & Southern 20 54
i Coliimb Gas & Eleo .. I ".Vi
1 Col Craphopliono .... 12
7 Consolidated Cigar ... (1394
7 Consolidated Gas 8194
.. Consolidated Textile . tl!4
Con Textile its 94
7 Continental Can . ... 90
Continental Candy .. 1 '5 7i
.. Con Interstate Cal M. 19
Corn Products Ref... K's
12 Crucible Steel 210
7 Cruclblo Steel pf . . 100
. . Cuba, Cano Sugar .... 52 i
7 Cuba Cano Sugar pf.. 14J4
!) Delaware & Hudson : 1!'A
.. Denver & Rio Grande. I
.. Denver & Rio G pf .. 12H
3 Kile Horn Coal 2714
5 Lndicott-.Tohnson 131
7 KndlcoU-Johnson pf..l01
. . Krlo 13
.. KrlH lfct pf ia?h
.. ICrl 2d pf ll'z
fe Famous Players-L ... 872
. . Federal Mlu & Smelt. 10
.. Flsl: Rubber U',i
2 Freeport Texas 37 Ja
.. Fisher Body 130
3 Gaston Wins & Wig.. 1894
0 General Cigar "0
8 General Klectrlo 100
13 General Motors MS
4 Goodrich B F 81
. . Gronby Consol M & S. 409a
. . Gray Ss Davis 40 y2
7 Great Northern pf ... 77 54
4 Gt Northern Oro ctfs. 37H
.. Greenu Cananea Cop . 34 14
.. Gulf Mob Si North pf. 30
Gulf States Steel 714
5 liartman Corp 9 1 54
4 Haskell & Barker Car. 58
7 Illinois Central ....
(I Inspiration Con Cop
. . Interbor Con Corp . .
. . Inter Con Corp pf . .
5 lnt Agrleul Corp pf . .
lnt Harvester
. 87(4
. 5194
. 4'4
. 14
. SO 94
.13312
. . lnt Mer Marino 504
lnt Mer Marine pf ...10714
.. International Nickel . 2194
(l Inter Nleltel pf 93
.. International Paper.. 75 H
. . Iron Products Corp . . 39'
.. Jewel Tea 13'4
3 Jones Bros Tea 25
.. Kan City Southern .. . HT-i
4 Kansas City So pt ... 43
4 Kclly-Spg Tiro 137
8 Kelly-Spring T 8 pf.llllH
3 Kcnnecott Copper .... 3s94
.30 leyslona Tlra St Rub. 4414
0 Lackawanna Steel . . S3J4
Low
30 H
4114
7014
83
194
J
4(1
92
93
53?4
9894
137
47
12
2394
115
7',
107
8 94
t2
93 (4
28
MH
95 Ks
44.14
93
13094
9(1
9994
C5J4
200
93
120
6594
10
50&4
00
73
73
8294
77
93 14
17214
1994
3l!4
10714
29 IS
401-4
121
2894
V
f3!'s
1109b
13
S3
1314
10J4
41
100
11814
814
25
20 'A
1314
CO 94
1S214
97
54
t.1,4
10894
5514
123
3 14
79b
21
81114
60'4
S514
2414
C8 94
18 94
35
92
1814
39 94
1974
1314
( I
(13 9a
.so 14
to?4
9s
M94
13
1814
.S5H
20094
100
5014
fc39i
19
(i
1214
27
134
103
1294
19 (4
11
87
111
4114
30
123 H
1814
70
lOli
8014
48 14
48
7o?4
37
3394
30
(if. 14
9114
is 14
CJa
5014
1
1314
so 94
13314
1854
10614
2094
93
7114
3814
13 14
2174
1414
43
13(1
10114
27 54
4394
V414
Today Net
Close Clige.
30?4
4214- Va
7014-3(4
83-14
194- k
2-14
40 - 94
9314 14
95'4-t 114
54 - !4
9894 , .
137 - 3
47 -12
-
2394-
115144-
4! Vi -
107 94-
0894-0214-D314-28
-
(I7J4 1
0594
4414- 14
93
1374 1
9014- 14
10014 195
oon ..
2M - 5
9.1
120 -
3594-
17
5794
(10
72
13H
E3 -7714-
9314
173 Fa
2014
3114-
107 94
3014 4014
121 -2894
-
1
1
!4
1
14
14
1's
3 'a
14
14
'J4
214
9s
1
14
1
194
14
I
!4
94
C3 -
111 -f
139H-
85
14 -1194
41 -
100
119
994
S014-
3714
4314-G094-
13314-
98
55
94
5514
12214 I
53I4 14
794- 54
31 - 1
37 14 -5014-85
Vi
3414 -C894-1914
35 -
VA
154
'A
1
19a
94
V,
1
9a
92 f-
rM4
3914
20 94
80 14
H1-4
54
90 -13
-
1814
S514-
50714 1W
10(1 1
' 5154
84 54
9914
fl -
1354-
37 -134
-
103
1294 -1014-1414-1
S7 -10
4114
014-
12314-
1894
70 -
16S -32494-
8014-
4914 114
94 ..
" .- 54
3714 '4
34 ' - 14
30 - 414
1014 214
9114 114
50 14 - 14
8714- 14
5154
414
14
80 94-
13314
49 -
10614
20 94
93 -7114-?814-1514-25
1414
43 137 -
10114
28 14
94
14
134
114
14
94
14
1
194
A
A
14
314
1'B
14
1
114
H
14
14
194
94
14
H4
'il4
tli
Dlv.
Sales In t
4100 .. Leo Rubber & Tiro
1700 3.50 Lehigh Valley 4294
100 7 Liggett Ss Myera pf .10814
1100 .. Loft Corp 2014
12 Lorlllard P Tobacco 184 14
7 Manhattan Kiev guar, 474
.. Maxwell Motor ...... 34
. . Maxwell Motor ctfs. . . 3394
. . Maxwell Mot 2d pf.. 31
. . Max Mot 2d pf ctfs 3094
7 May Dept Stores ..,.117
10 Mexican Petroleum ..209
Miami Copper
200
900
500
400
100'
200
300
114200
1300
8900 120 Middle States Corp
229
C494
4014
12
7194
4000 4 Mid vale. Steel & Ord.
200 .. Minn St St L new...
100 7 Minn St V & S St M.
100 7 M St P & S St M nf . . 91
400 .. Missouri Kan & Tex.. O'i
1400 .. Missouri Paclflo .... 29
700 .. Missouri PaclRo pf... 3954
400 3 Montana Power 5714
1300 3 Mulllna Body 5014
300 3 National Acme 37
500 7 National Biscuit H
200 7 National Biscuit pf...H4
2000 Nat Anlllno & Chcm.. 09J4
2200 .. Nat Conduit & Cable 1014
400 5 National Lead 80
100 .. Nat R Rot Mex 2d pf. 454
300 1.60 Nevada Con Copper .. 16
600 10 New York Air Brake.. 11014
4100 6 New Yorlt Central ... 1814
600 . . Now York c & St It .. 2594
800 ANY Chi & St Ii 2d pf. 46
100 2.50 New York Dock 3194
100 2.50 New Yrk Dock pt . . . 60
100
3100
1690
100
1100
5000
100
23J0
4600
100
300
3600
200
200
200
8300
2000
3000
COO
6000
600
1 100
300
10J0
200
15011
9000
700
200
5500
100
600
600
100
200
11)0
4090
7000
3200
3U600
700
200
6100 8
6110
200
300
590
1000
18010
10800
3500
300
101)
3J0
1!)00
100
51)0
13700
300
1800
6000
230(1
1110
200
7300
14800
100
3100
700
300
10600
1700
300
15110
800
3500
500
too
5800
300
4300
I New York Ont &W .. 1654
. . New York N H & II. . 2014
7 Norfolk & Western ... 97 14
4 Norfolk & Western pf. 6714
5 North American
7 Northern Paclflo . .
3 Nova Scotia S & C
4 Ohio Cities Gas ...
.50 Okla Prod & Ref ..
Ontario Silver Min.
6 Otis Elevator
. Oils Steel
3 Owens Bottling Maeh. 6894
5 Paclflo Gas & Eleo ... 00
Paclflo Tel & Tel 37
6 Pan-Amcr Petrol & T.106U
Pan-Amer (B) 10194
. . 93
. . 60
..11394
.. 9514
8
7
S
8
6
300 3.50
Pan-Amer Pet rts
3 Parish & Bingham
3 Pennsylvania R It .
. . Penn Seaboard Steel
. . Peoples Gas Chicago
Peoria St Eastern .
Pero Marauette
5 Poro Marq prior pf.. 6514
3 Philadelphia Co 3314
. . Plerco-Arrow Motor , . 37
.. Pierce Oil 114
4 Pitt C C & St L 6714
. . Pittsburgh & W Va . . 2514
fl Pitts St W Va pf .... 7514
I Pond Creek Coal .... 2694
8 Pressed Steel Car ...10114
7 Plttshuri-h Steel pf
Pub Scrv Corp N J
8 Pullman
6 Punta Alegre Sugar
2 Ray Consolidated Cop. 2014
4 Rending 7614
fi Repuhllo Iron & Steel. 11114
4 Hcpuli Motor Truck.. 50
. Remington Typewrit.
70 Royal Dutch NY..
. . Saxon Motor
6 Savage Arms
. . Seaboard Air Line . .
1 Sluttuek Ariz Cop . .
. Shell Trans Trading. .
. Sinclair Consol Oil .
6 Southern Paclflo . . .
. . Southern Railway . .
5 Southern Railway pt
JOSoutb P R Sugar
.. St L San Francisco..
St L Southwestern..
1 Ht Joseph Lend . . . .
4 Stromberg Carb . . , ,
7 Studcbakcr
3 Superior Steel
. . Tenn Cop St Chem . .
. t Texas Co
. , Texas Co rls
. . Texas & Pacific . . . .
. . Third Avenue
(I Tobacco Products . .
. . Transcontinental Oil
4 United Alloy Steel . .
10 Union Paclflo
4 Union Paclflo pf
10 United Fruit
. . United Retail Stores .
. . Union Oil
.. U S C I P & Fdry...
2 U S Food Prod
. . Un Ry Investment . . .
Un Rv Invest pt ...
U S Ind Alcohol . . . .
U S Ind Alcohol pf. .
U S Rubber
U S Rubber 1st pf
lllah Low
:814 37
4194
1081J,
20
183
4614
34
3394
3094
3094
117
20114
2214
0294
4894
1194
7194
91
!l
54 J4
3914
67
4914
3814
116
114
68
10
7094
454
1494
10914
0714
24(4
41
2194
60
1694
2554
9614
6714
60
184
1114
18
914
914
134
35
6S94
60
3614
10114
10014
14
46
40
33 1-i
33
13,
2614
6114
34 54
7654
19
57
2494
7514
26
99 14
93
60
11354
03
20
7594
109
CS'e
8694
9514
14 54
7414
714
11
76
434
:oi94
' 2094
65
310
1614
K 10 54
1314
7314
1033s
4354
54
50
. 7014
. 7114
. 4894
. 994
. 914
.135
3554
It
47
40 94
3414
3394
13
265s
. 8(1
. 1714
. 145a
. 75
. 734
. 1114
. 7714
. 4454
.10254
. 2114
. 55 14
.240
. 1694
. 11
. 13 J4
. M4
.10494
. 44
. U14
.231
. til!4
4194
. 13
. 9194
, 40
. 50 !4
.123
. C6 14
.203
. 9114
3014
2190O
1200
3300
300
600
too
36ll
510
13 "
200
200
900
100
300
100
tJ'i
300
300
100
1400
1900
10090
3500
335
koo
too
100
100
100
U S Smelt R & M.
U S Smelt R & M pf.,
5 U S Steel
7 U S Steel pt ,
0 Utah Copper
. . Utah Seo
0 Va Iron Coal & Coke. ,
4 Va-Carollna Chem . .
Vanadium Corp
. . Wabash
. . Wabash pt A . . .'. . .
. . Wabash pt B
. . Wells Fargo Exp . . .
. . Wheeling & L Erie .
. . Wheel & L Erie pf . .
. . Western Pacific
4 Western Paclflo pf .
. . Western Maryland . .
. . West Maryland 2d pf
7 Western Union Tel .
7 Westinghouse A Br.
Westlnchouse E & M
i White- Motor
White Motor rts . . . ,
1 Willys-Overland . . . .
7 Willys-Overland pf .
5 Wilson & Co
8 Woolwotth F W ....
7 AVoolworlh pt
. . Worthlngton Pump .
(I Worth Pump pf 15
771-i
. 1094
. 24 94
.10314
.102
12314
.11314
. 75 94
. 4714
. 104 14
.1125.
. '.514
. 10
. 8314
. 60 54
. !
. 794
. 11 14
. 15
63
. 13
. 1714
. 21
. 56
. 1114
1714
!914
.113
. 5354
. con
. 294
. Z854
. 90
. 8014
. 123
.114
. 1514
. 75
59
41
12
994
854
6014
123
t6
20014
8 9 J',
36
3114
1694
1014
2214
10314
103
123J4
113
74 14
47 94
1C354
H314
7214
9(4
7914
(.6 54
Hi
114
2t
14 56
5254
1154
1714
21
66
1054
16
89
112
63 ii
5D94
2J4
3814
89
7914
123
1 4
tw-,!4
75
Today's Net
Close cnae.
S7!4
4194 108)4-
3014
18414-
47J4-
31
3394
31 X
3094 v
117
208 t
2294 j W
14
3!4
R
14
14
34
It
94
114
14
14
14
14
14
A
6394
1894-
1194
71 94 -
91
24J4
3914
67' -
SO 14
37
118
114
6894
10 -
80
454
1414 . .
10914 ...
0714- 54
2594- 314
40 - 3
3194
60 14
1094- 94
2594- 14
9794- St
0714 14
CO
1854- S4
7114- 'a
4894
914-914-134
3554
58-4-
60
37
st-
40 -4014-3314-33
J4
12 -2094-6514-3496
10
19 14
6714 3514
75)4
20 14
60 -
1135a
335s 114
30 -
7394 -
look
ed 8654 -
t6?6
1156-
7414
714-
1114
,694- 114
1114- 96
1031a- 1
21 - 1-a
5514- 94
340 13
1694
11 -
1314
7314-10354-
14 -
10
S2814-
o!4-1114-13
-
CO 1-4
123 -(614
303 .
S0 94
lO -22
r
11 14
,1094 S494
102)4 -
103
1J354-
113 -
16
4794
1C39.1 -
11354-
7394-
914-
79)4-
(654
n -
794-
21 -
U54-
53
1156-
1714-
21
56
1054-
17 -80
112
53 54-
59)4-
314-
2894-
8914
80
133
114 -
1551
14
"h
194
14
It
l'4
St
1
14
14
!4
"S4
114
9 56
I'B
96
14
1
14
14
14
14
!4
14
396
(4
114
94
Vz
8
314
54
t 1
94
lit
14
114
14
14
4
96
14
154
94
t
l'4
94
14
LOCALTRADING EXTREMELY
LIMITED AND COLORLESS
Continued Absence of Liquidation in Leading Investment
Shares an Encouraging Development
todays local stock market wis n
pjlorlMs affair with extremely llSlit
1! . ""d mhp' lmt nltOKftlier tin
important price clmnfjes. The tlav'H op.
orntlonK only served to emphasize the
vnltliifc attitude of the local trodiuK
contlii'-ent, nnd the complete absence of
any initiative.
One of the more encouraging features
VJfui " toi-oetibl lessening of the
It ,"".? nn1 nttont Houiiiatlon In
the leading investment shares. This was
more noticeable because of the rather
RIoomy nspect of the railroad (dtuation.
Most of these stocks, however, have
unquestionably renclieda level of unmis
takable attractiveness from nn invest
ment viewpoint. As a matter of fact,
the recent picking up pf these shares is
tq be regarded In n much more Import
ant light than the irritating persistent
liquidation. It means in the outright
buying these stocks are being gradually
taking nway from the street and finding
a lengthy lodging in strong boxes.
If the greater part of the recent liqui
dation, was, as stated, for the purposes
of establishing losses in making Income
tax statement, it is reasonably certain
the same sellers must sooner or, later
be compelled to buy u great mnny(of
the shares thus disposed of back again.
There is a prevailing impression they
can bo bought at much lower prices,
The history of the street has invariably
shown when any opinion becomes vir
tually unanimous it is essentially
wrong. Perhaps some of these tux
dodgers may have to pay dear for their
lukewarm patriotism.
There was some little selling in both
1'enus.vlvnnin ttiillrnnd nnd t'nlled (ins
Improvement, cnnulim both to fall '.ffl
within a shadow of the low prices, but
the (Icmnntl nt most times equaled the
supply. Lehigh Navigation, after
reaching til!, yielded 51, to (11.
liecaust; of the growing nnrrowne"
of the current trading nnd the extreme
low ebb of market interest, the greater
part of the list naturally was Inclined
to droop. Price recession', however,
were slight, seldom extending beyond
the smallest fractional limits. Phila
delphia Hupid Transit, wns n conspicu
ous exception, showitte striking
strength, 11 ml made a mibstnntial gain
ut 27. Union Traction nt the same
time held nt 31 and Philadelphia Tinc
tion ,nt no.
Little of interest wns to be snid con
cerning the dealings in the other local
shnres. Electric Storage Battery de
clined 'Si cents to V,V2Vx on smnll busi
ness. Lake Superior shaded to 'JO',4.
hut rallied later to JI. Pennsylvania
Salt broke through the 75 peg to 7J'j
and then recovered the lost ground.
American Stores yielded under the -1(1
mnrlt, while small sales carried Amer
ican (!ns up SI to ),.
Philadelphia Electric was noticeably
firmer at "MV6, Which wits partly at
tributable to the understand!!!!; that
negotiations bnvc been completed by tbe
company with its bankers for the pay
ment or exchange nt the S7,fi00,0()0
two year 7 per cent notes which inntilre
Kchiuitry 1. It is understood arrange
ments have also been concluded by thn
I'nitcd (ins Improvement. Co. for the
notes w'llch mature about the same
time.
:l
:
"PENNSY'S" TAXATION
Figures for 1918 Show Increase of
33 Per Cent In Two Years
The extremely rapid increase in the
burden of taxation imposed on railroad
companies is shown by the final tax
figures of 101S for the Pennsylvania
Hailroad system, which have now been
compiled, in full for nil the properties
involved. The Pennsylvania system lust
year contributed to the support of the
federal und state governments, in round
figures, ,fl!"i,500,000 In taxes. Three
years previously the taxes had
amounted, to a little over $1(5,000,000.
The increase in three years was, there
fore, approximately .t',1,500,000, or very
nearly GO per rent.
The exact payments each year com
pare ns follows:
TEAR I'NDKD DKCE-MHRn 31
1915 1,028, 321. Oil
l.nn m. isl. iti!i.!)2
101" 22.P31.snO.lll
1018 ". . 25,41111, 51)4. 31
In the single year's interval be
tween 11117 und 1018, there witb un in
crease of 11 per cent, and in two years
more thnn "It per cent in tbe taxation
burden imposed on the properties com
prising the Pennsylvania system.
BUTTER, EGGS AND CHEESE
New York. Dee. 18. HUTTEU ritratiy.
rtocelpts. 20S1 tubi. Creamery hlg-her
than extras 73 W (ifl74c; cxtrn (!)2 'core),
73c; firsts, al'4f?72c; packing stock, cur
rent niiiKe, No. 2, inc.
KOtlS Steady. Uecelnts. 4032 cases.
Kresh-eatlierecl extras, 84R5c: i!o. extra
firsts. S2(i?83ci .do. firsts, ROOSlc; state
Pennsylvania intl nearliv western hennery
whites, firsts to extras, 8."ti(ici do, browns.
Si!fP8Hc: do. gathered browns and mixed col
ore, S4i)sr,c.
("HEKPB Irrosular. Heeelpts, 8410
boxes, (at. whole milk. Mats, current
make, specials. 32Hr3214c: do. average run.
31 fi.'lllai Btate, whole milk, twlna, cunent
ir,ake, speclah, UltflSS't: do, averaffe run.
310
PRICES HOLD STEADY
ON COTTON EXCHANGE
Southern Advices at Odds Con
cerning Basis, but Agree on
Lack of Demand
New York, Dec, 18. In the early
afternoon the cotton market continued
quiet and steady, prices holding around
lUi.iH) for January contracts. Advices
from the South were conllicting as to
"basis," but ngieed on 11 lack of de
mand. In the case of (Ireensboio, N. 0 It
wns stated that mills had bought little
cotton since the coal strike, anil might
be expected to re-enter the market with
the turn of the new year. There was
nothing in (lie lnte news to attract fresh
market interest.
The exports of cotton for the .lav
were ISI.O.in hales, including 21,.iri8
bales to France end 1GJV5 bales to the'
rest of the continent.
Clearances for the season to date to
tided '.,.42i),182 bales, compared with
1 ,."il0,M)n bales in the corresponding
period last. year.
Previous
close, Open llltrli Low Close
38.50 a.s.7(i .iu.no as. 10 ss. 10
3(1.11!) 37.0(1 :'.7.(I7 ."III 5rian,73
111.8(1 34.87 .(."..III) n4'.S2 .It.rafJW.BO
32.811 32.85 IK.H1 :12..1I) 32..1IIP32 40
31.12 31.20 31.22 311.(11 30.110030.02
.... 2U.II8 28.HS 28.13 28 13(028.20
Dec. . .
Jan. . .
March.
May..,
July. . .
Oct
Uld.
New York Metal Market
New York, Dec. 18. Copper Spot and De
cember, lNW1Nci January. 19i euiom;
February and March. 18?i 010 He. Market
nulct. '.ead. all months, 7.20IS7 3l)r. Mar-
ket firm. Kpelter. Kast St. I,ouls Spot and
December, .s.KiR 30c; January, February
and .March. 8. 20 8.30c
Total soles,
3.11,17,2110.
091.000 shares, compared wlthl.00l.U0ii shares yesterday
Cxdlvldend.
Thus far this
t Bx-rlshta.
week. 3.7(13.400.
1 The Price of
French Francs
in this country makes it possible for Ameri
cans to invest in the 5 French Victory
Loan on a basis which is over 100 more
attractive than offered to investors in
Prance. On the return of exchange to
normal, without any increase in market
prices, American buyers of the 5 French
Victory Loan would, if coupons were with
held, receive a profit on their principal and
interest in excess of 100. ,
For details, ask for Circular Letter 'No.
E-54.
..Chandler & Company
INCORPORATED
Franklin Bank Bldg.
Philadelphia
Xcw York
Floston
Same period labt week,
NEW YORK CURB (Continued)
H SIHcr Lead A A
Tonop.ih Helmont 2 A 2 A 2 A
Tonopah L'aMi Hoy nVa il'i HVj
Tonopah Divide o'b 2'h 3
Tonopah Kxtennlon 2 Ml 2
Touopah-JIm II ..20 20 2(1
Tonopah Midway 10 IB in
Tonopah Mining -U B'.S 2'i
Tonopiih Mlzpah 7 fi 5
Tonopah Montana 11 111 11
Tonopah lleecuo Eula..., 17 17 17
Victory 10, 1 18
Wen Knd (J Hi l'i Hi
White Caps 11 11 11
Whllo Caps KM J 2 2
WilbTt Mi llli Mi
YerrlnBtoti 4 4 4
llONIlij
Allied 1'acKera Us 7f) 78 78
ATT (Is, 1H22 'I "I !IH
Can (iovt r.'4R 1U20 ! 4 111
Copenhaaen 514 s WW ;,- 82
I R, T 78 7114 711 7(1
ltu8lan Sl, 2JW 23W Mla
swim r.Ws ;,' SJ Si
Swedish. ss
NEW YORK COFFEE MARKET
New York, Deo. IS. Tlicro wns re
newed selling In tie coffee market this
inornitiK and opening prices showed de
clines of 10 to - points. Disappoint
ment over tlio showing of the llrn
.ilinn markets and renewed weakness
of sterling exchange led to .scattering
commission lioiifce liquidation, which ac
counted for the opening decline.
Ilusiness was very nniet after the
call, however, nnd prices showed little
further change, fresh business being re
stricted by the approach ot the holidays,
while there doc not appear to have
been any great extension of speculative
accounts on rccpnt advances.
lest.
German Bank Statement
Ilcrlin, Dec. IS. Tho statement of
the Imperial IJaiin. ot Gcrmuny for the
period ending December 0 dhows the
following clinnsss Total gold and bul
lion increased 7."0,0Q0 marks: gold de
creased l!2:i,000; treasury notes in
creased 183,15,000; notes ot other
banks decreased 8411.000: bills dis
counted decreased l.'D'!,074.000; ud
vnnecs decreased l,77-,00(l ; investment
increased 11,200,000; other securities
decreased 05,101,000; notes in circu
lation increased r54.rnu,000 ; deposits
decreased 1 ,418.8011.000 ; other liabili
ties decreased 502,0.18,000: total gold
holdings, 1,000,200,000 marks.
BANK CLEARINGS
Kink clearings today compared with the,
corresponding nav iani iwo eari
lUll) 1018 11)17
Phila, tO.'i.flOl.lsn J7n,21n,n!)'. (I2,507.303
TUltlmoro 17.217,11X7 id,iz.j.-u
.September
(Mober . . .
December
January . .
1-Vbruary .
.March ...
April
.May
June
July
AUtruat . .
Uld.
Open Illuh 1av Clo-
.lfi.2!) 15.2!) 15.25 1,V1 I "ill
' 1,1 111 l.i fill
1 I 11.1 14 II"
14.711 15.0S
.lKwiJiiuibioi.iaiiii-js
,V.-,;, ,- , . I". 11 1!37
.1,1.21) 15.26 1,1.20 1.1.10 15.45
- ;. , 15.211 15.5.1
.15.45 15.1,1 15.40 1.1.10 15.(1.1
'. 15.21) 15.57
Botn., 78,072!l71 00,078,841 12.H70.SbI) six months, B( per cent.
MONEY-LENDING RATES
NUN YOKK Money on call both
mixed collnterial anil all Industrial
collateral, opened at 0 per cent; high,
u; low. i; last, ii; closed, 0(0,11; ruling
rate, 5 ',4 per cent.
Time money today w.s quiet with
rates unchanged from yesterday's
quotations. The rate for mixed col
lateral, wns 0'i per cent and for all
industrials, 7'jS8 per rent. There was
very little money brought out at these
quotations.
Acceptance bills were quoted nt from
1 to fi'i per rent with quiet tone
throughout the sessions.
PIWA!lI'XI'HIA.-Cal!, 0 per cent;
time. 0 ner cent : commerclnl nuner.
Hireo to Ms months, n per cent, aud
USLmJZR jLI
fCAPITAL$50Q,000.00
ff S0RPLUS (EARNED)
We
Sell iyioney Orders
and Drafts
Payable in
Austria
Belgium
Bulgaria
Denmark
Germany
Holland
Jugo-Slavia
Luxemburg
Norway
Poland
Roumania
Serbia
Sweden '
Switzerland
at Lowest Rates
Apply to Our
Foreign Department
m
1$
. A1-
-i4l
v:
Credit Losses
The primary function of the American's
Unlimited Policy of Credit Insurance is to
provide absolute protection against abnormal,
unforeseen credit losses.
But so thorough and complete is the service
we render that very frequently a client's
normal credit loss is reduced, und he is saved
many times the moderate premium paid for
the policy.
If you are a manufacturer or wholesaler,
we can tell you precisely 'the normal insol
vency loss resulting from sales of any volume
for your particular line of business.
Surely it is to your every interest to get such
valuable statistics! An inquiry will bring
them to you without any obligation.
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E.M. TREAT, president
VV. J. Morphy, Manager J. F. McFadden, Gen. Act.
Mutual Life of N. Y. Bldg.
Phone Filbert BS03
Philadelphia, Fa.
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