t . rtA 18 EVENING PUBLIC LED GEE PHILADELPHIA, SATURDAY, DECEMBER 20, 1919 NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS - n It tr V P mt M M m ;f 9 I Hi ."i V SA ft re rf a CONSERVATIVE HIGH EARNING INVESTMENTS No matter how you wlah to invest in Bonds, Notes or Pre ferred Stocks, our List contains one or mors Securities that meet your desires In Interest payments and dates of ma turity. Atk for detailed Hat. jAagKieco. Investment Banker Real Estate Trust Building Philadelphia sum Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS HIJ UEAL ESTA1K TRUST BLXX). loTeettiate and adjust purtnccsblp an corporation account. AIM pretxu U, . immm, T,t Rtiima. m - ' ' "d Trade With Portugal and Colonies The Expaniao Comercial Portugueza, Rua Asumpcao42, Lisbon. Representations o f good American products re quired. Bankers' references given. F1NANCIM, . pATlD LCPTON'S 80VS COMPANY ciniur mine Fund Purchase of Preferred Stock ton's 8on Company and the undersigned Pursuant to the agreement nf David Lup on'a Bona Comnanv and the undersigned, as Trustee of the Sinking rund the undei- nlmed hereby rrlvea notice that It ha re ceived notice irom David lupiovs sons com nanv that said Company -Mil deposit with the unaersignea on or Deinro January 2. 1920, the sum of Thirty-one Thousand Three Hun dred and Nlnetv -Seven Dollars and Eighty v-ems uJi.nui.Du;, in me sinking Fund. Provided under the Agreement under which u said Preferred stock was Issued, and that It Is Its Intention to apply said sum to the purchase of shares of the Preferred stock arorassld. Offers of said shares are In Mted, at a price not to exceed par and ac crued premium of ten per cent. Sealed tenders to be, addressed to the Phlladelnhla Trust Company, Trustee of the Sinking Fund 5.fth" &1B-m''nut ""i""'.. PhlH-delphla: Such offers will be received until three o'clock on December 29, 1910 PHILADELPHIA TRUST COMPANY Trustee JOHN C WAI.UCE Philadelphia. December JO. yi5,,nr CHESTER COUNTY I'UIILIC HFKlrie KAnS 5 HINKLNO TOD OULn HONDS, DUE JUNK 1ST. 1911. " ...EK,"",!"' t,.,th?,,,'si "?.". mrtas -- . vt U4Q unQfraimpn in. ln""" f?."8." f ",'.. 3" - the sum Healed tenders stating the numbers of the bonds offered should b addressed to L7"L".tr JF00J,t,.Tru"t Company. Trustee Sinking Fund. Ch.ster County Publlo Serrlce & ht1TUX Th'r'v-Tear rive Pe? CeSt N F. Gold Bonds, and will b received until 12 00 m January th 1920 u'iv;?,1cS.,iCOUNTY TRUST TRUSTEE. tr. . .. . J- F- RAMSEY. West Cheater p , December 4th 101-3 COMPANY, President. FURTHER RECOVERIES MADE IN THE CLOSING MARKET Prospects of Immediate Passage of Cummins Bill Caused Free Covering in Railroad Stocks New 'Vork, Dec. 20. There was no essential chance in tho conditions of the market in today's brief session. Prospects of immediate passage of the Cummins bill by the Senate brought the much-neglected railroad stocks Into brief prominenco in tho initial dealings. The good influence, however, was parti) pst in the announcement from Wash ington thst the President would not send hit message on the railroad situa tion today. Tor the most part the day's move ments were made up of tho familiar week-end eveniug up operations of the professionals. Strength was shown at the beginning of business when gains ranging from fractions to more than .'t points wcro made largely because of tho scant supply of stocks. In other words, free covering of shorts was In evidence all around the room. When this demand slackened the weight of profit-taking sales caused a general reaction by which most of the initial gains were wiped out. In the second hour the tone again became strong with a renewal of the forward movement on western bujing orders, .which carried the moro promiucnt .shares back to and nbovc the opening level. Tho secondary recovery was as sisted by another sharp rally in sterling exchange. To use the phraseology of the Street, "tho market during the last week has been running in circles." This is n familiar condition in the between sea sons of the market world. A condi tion usually prevalent in the aftermath of every big swing, indicating diversion of opinion among the leading market in terests and a similar mental confusion of the professional and scmiprofessional trading clement. In other words, a stage of the market wherein the pro fessional operators are mighty glad to make a point or two on cither swing, and where the so-called public is cou tent to look placidly on and not par ticipate. It is a juncture where the mice play while the cat's away. In the narrow circling of such operations there is little likelihood of dislocating any great amount of stock held on either side of tho lodger. The mechnnicnl-liko swing of the market pendulum is better appreciated after a closer nnalysis of the week s operations. This cannot be better il lustrated than in the backing and filling of the twenty active industrials and railroads employed in striking an aver age prkc bwing. Here wo find the aver ago price of tho twenty active indtis trial stocks latt Saturday to bo 103.7.1, which was within 013 per cent of the bottom figures touched on November JO. In the three days' rally in the former part of the week, the average was raised to 107.20 The succeeding day s sharp reaction, influenced superticinllv by the attitude of the labor organiza tions to the government control of tho tt asportation lines, carried the nvcrnge back to 103 78 Yesterday's recovery influenced solely by technical conditions tho average was raised to 104,0.1. All of this carries little significance, except to further emphasize the completo domination of the professional contin gent. It means, by reason of the nnr rowing of the market circle, the general list automatically becomes overbought or oversold. This is wholly in line with precedent. The present condition only differs in this way. Some few of the industrial specialties, by reason of the comparatively small amount of floating stock, arc more susceptible to manipu lative influences of the pools and cliques, as indicated by tho wide and at times rather violent fluctuations of tho oil, motor nnd some of the equipment shares. Otherwise the swing of the more repre sentative shnres is circumscribed with in relatively narrow limits. This bctwccn-scasons period is usual ly followed by the familiar window dressing or market grooming In the opinion of some recognized competent observers the preliminary maneuvers of this new market stage setting are ulready in evidence. I'crhups they arc present and perhaps thej are not. In all events, they are not as jet clearly enough defined to be distinguished by the ordinary layman. This much is cer tain, however, that the incentive for any comprehensive swing will in all probability emanate from Washington, while the extcut of the moemcnt will be governed solely bv money condi tions. The bulls may land the Christ mas turkcj , n pri7o they have not captured since the memorable Flower boom, but uulcss nil surface signs are misleading there is not much of hope of a big market until after the turn of the J ear. FAVORITE SHARES SELL OFF ON CURB Many Issues Strong Yesterday Reflect Profit-Taking Trade Fairly Active .,,.... JJPT.'CB OI' RKIJEMl'TION ")CKATfrAY ROLl-INtl MILLS "co. FIRST MORTGAGE 7fk SKJtlM, CONVKKTIHI.K nnrn nnvna Notice Is hereby elven that pursuant to -ii?tVTO?.??, "V indenture of mortaaw dated ui , wis, irem uockaway Ro llnr Mills n2!yJn,y.t0 Commercial Trust Company of fnd;1PJV.af -tru,t"' tn" 'd "Skaway Rolllnr Mllla Company has called fcr r- dSjfen on th ""May of January. 19201 at lOHVi per cent of the face amount thereof and accrued Interest all the bonds now out atandlnir and secured by said mortgage after which date all interest on said bonds wm cease and all coupons attached therein will become null and void "rn win Tho eald bonds will be redeemed and all euma due thereon paid by the Commercial Trust Company at its office on or after tnli Ownership certificates coverlnr accrual Interest to the date of tonder should ac- ..... .. tn- nui evreaeniea xop re- GENERAL MOTORS ADVANCES demotion Hi OCKATVAY ROLUNO MILLS CO . rorM li iwia Treasurer. FBETZ REALTY CO. The following Bonds. Nos 87 loo ins 109, 103. hae been drawn and are called ior payment ana accruea Interest Pay- nwot,i b.D!a.l9 on tho lt day of Jan- MMf, v-v. .. iud umen oi mo ileal Estate liuo inanranro unu Trust Comnanv of aV.V1'0,Vi.L-:'ch'tnaf.? ceare. oonas win JI n CAMPBELL Treasurer Dividends STEEL A TUnE C031PANV ot The uoara oi Directors has de laYed th reeular quarterly duidend of lai.. ,ZS JL1" 7 Cumulative Preferred Stock "1 th? Com pany. payable January 1 1020. to the .tXC" holders of record at the Uoae of bnliSf. T.rmb.r 10. 1919 The lr,t7. - ,.J?slne" M..ln .ln,.il iHI 1" !-.. ,UDOKa 5. ibio: " noon' A A SCHLESINGCR President and Treasurer Philadelphia Slocks Net chse Tflcrh Low 10 Am Strs. :ii. :). 400 Am S&.C 20 120 Am (las. 451 200 Amcr It j s pref CS 21.". Urill J G 48 W. 210 El Stor..l33Vi l.TJVj 132'A-f- 10 O Asp pf.10," lO'i lft-i 0 4r..r. Lk S Cor 205& 20 Vi 20U Vi 4 I'Ii Nnv ZVi, 88.-1 1,ch Vol. 421, 2200 In It It. 401. niO In Salt . 74' 100 Phlla Co cum nf. Jtl 94 11KI I'lllI i;iec 24 287', 45 58 47 01 42 40M 741. Close r.ny. 1.- . . ,-S O'j ibKj-f-iy. C". 1 42 40 74 . . tMERICV will Jan- New York, Dec. 20. There was fairly active trading on the Ilroad street curb in the short day, but de mand and supply were so closely bal anced that there was little change in prices after the two hours of trading. JIany of the stocks which nan ueen strong yesterday reflected profit-taking sales and sold on moderately, but there were several issues which were in con tinued good demand at further ad vances. Geieral Motors (new) was one of the strong features, moving up to u(!. nnd United Retail Candy advanced to 18. General Asphalt ranged from linA to 114A Simms Petroleum wns strong, selling at 05'j. The rights to subscribe to the new stock were traded iu nt Ch to GV4- International Petro leum first advanced 1 point to CO, and then reacted to 043. Midwest Itefin inn sold at 103 to 102. Carib Svndi- catc traded in at 53 to 53. Mont-J gomery-Ward sold at 42-jj to 42. 1 Libby, Meeill fl. kiubj was traded in ut 30. Loews sold at 30 to 30V1. Marconi was quiet with a small amount of business at 594. INDUSTBLVLS HI 111 ir p n t te 2714 31 7i 24 Vt 27 H r.ni j 7711 2 21, .".414 ii 31 '1 24'... 27M 5W. l't 774 Mi JI ! mn rh Trnrt mn. 10 tlteading 77 200 Ton liel 2 525 Ton Aiin 2't 205 Un Trac 3l'i 501 U G I.. 52 200 tn s sti.i)5H io.ji, 10.-14 200 tl'n It in 10V. i0y, 10V... 200 tW Mil 2d pf... 1-ij 17n 17ij Vs JNet chnnxe made b comnnrlson lth last sate on New York Stock Kxchanife o".0.'1 ,sales 0031 shares, compared with l-.'i.?. ahar"' yesterday Thus far this week, 74 213 shares Same period last week 90,- NF W VHP K- QTnPFT PYP H A NHR TR A IMS A fTI HNS ! rr.AAftvBttAt I Dl . -iir ' r !... .. Uiose .ni. 1 oa C1T1CE OP WELSBACII COMPAAY Oloucester. N. J. x December 17. lnm The Directors have this day Veela5 . etntannual .dividend of threo and inShalf per cent 113.60 ner share) on the Preferred Stock, payable December 31. 1010. to stock holders of .record at tho close of bull?:.; December 0. 1919 Checks will "J, bm"aT.ed! J M DEI LIN Treasurer OBlea of The United tlaa ImproTcment Co' W. Corner Ilroad and Arch Street Philadelphia. December in, infu The Directors have this day declared" a quarterly dividend of two per cent 1.00 tn shared payable January IS, io;o. t loekholdera of record at the close of busl sees December, ai 1919 Checks will b, snalled. I. W. MORRIS. TTMaurer. Annnal Meetlnaa fKSP'nE ANNUAL MEETINO OF THE Marin and Inland Insurance Company, for th election of Directors to serve for thJ ensuing year and for the transaction of ouch it 'will -b-held-at the office o ftK'Kmy Boom 130 Commerc al Trust BulldlHr Philadelphia, at 3 on o'rlnjk p m "on Thursday, January Si, 1910 on CHARLES N RAMBO, , mm Secretary. BTIIE PROVrDENT LIFE AND TnTTST COMPANY OF riIII.ArtrY.JltU&T J"!a F.lfTtY;"ftnJArnnuf'l'etlni "r Th Frorldent I.lfo and Trust Company of Phn. SelphU. will be held at Its orfi " Fourth ilK Chestnut streets, on Kecond Diiy (Mnn1.!?".'1 th. Twelfth Day of First .Month ManunPI !K0 at 10 o'clock a. m. An eii-nX""; flv. Directors to serve for three y!aVn,.f,? ba held between the houra of lo a "" "J'J " m LEONARD C. ASIITON, Secretary IKK3- THE TE.NN MUTU.UT VZP INSURANCE COlliM Acme Coal . Amer Marconi Car Llsht Dafoe Eustlco . . . Knrrell coal . General Asphalt .... General Motors .. Havden Chcm ... . Hupp Motors .' Hendee Mfe . . Indian Packlns Llbby McN Sl Llbby . Loews Ina . . . . . Mercer Motors . . Mont-wara . North Amer Paper Perfection Tire . Root Vandervort Republic Tire Rub . Submarine Boat . Sutfl International U S Meam United Ret Candy United Picture Prod Warren ur-o A 11 O'l I nw a li 55 a li S3 Utrti 1Mb lM . U . M'i . -13 . .so . 30U . 34M, . 4J?i . 4H . fl MiZ . 14 01 . 4 IU n . 87 311 II 14 48 Jt 30 30 34'j 42 4 II 03 " 4 13 111 17 17 7 The An INSURANCE COMPtvv" Phllade phla. December 20 inn I.UJK 0 Alliance Allied OH Aritex Oil .... Bell Petroleum Ltoone Oil Boston Womlng Burknett Van Cleave Carlb Syndicate Cosden it Co Dominion .... Krtel Oil . . . Esmeralda Oil Federal Oil Ulenrock Oil Oulfey Gillespie Hudson uu . Intl Petrol Indlahoma Ref . . . Island OH Llvlntrston . Merrltt Oil Mexican Pan . . Midwest Ref Maema . North Amer OH Phillips Pet . Salt Creek Prod hlmms Pet Texas Co w I Trinity Oil . Tropical Oil .. . Victoria Oil now While Oil Western States INDEPlSfDENT OILS lttVa 10 OS 33', 33 a. . Jb Bv. . i'.i 37' . 1 . 04 . 10H 'i . 19 17 1(13 . II lit, . 764 . 44 05 Vi . 39', '! 10Vi l'l 7'4 03 ...a- Gl IU, 33', 'v 3Vs 87U '. 01, 19" 17 10J II r 75 43 Vi OS 60', '. io 1'. 311 144 IS l :io .tou a l'l 4;3 0 03'4 I i3; 01 j' in, 17 (17 10 Vj 24 7U 08 SJ'j Wr, 33, Net chse 100 .. 10(1 . . 55 . . : D7VS i 00 3's Sales In IIONDS 1??u. , . ..IllBh f-ow Cose 5 Am T v'c T s 7051 7031 70Ti. 2 r.nld Loco 1st 5s ...100 100 4 IJeth StI (N.100 100 5 IJ & O 4s. 55 55 10Cit 4s '47. 071. 071;, 32 1-10 HI & P Tr is ... 01 50 5 Kan C U 5s 55 55 .i l.en vnl IN IUU'h IUO'k 100i , 10 Loh Valgtn 4s (19 1 , COM. G0... 13 l.eh Val gen -i ,s"r 7S"' 7S," 7S'' ? i'j Lib Isonds 3d 4HS.. 03.00 03.00 03.00.00 61-10 4th4y,s 01.52 01.50 01.C2.02 15 Vic 4i4s.. 118.00 OS !l() 0S.00.0J 5 Midvale 5s. 81!)i SHi Sia'i.. o nor o f tis 00 &., Bo 11 l'a gen 4V.s S0 G 7-10 Phil i:iec 1st 5s.... 02 13 Pub See 5s 011 10 Head gen 4s 7Mi 5 Itussisn Gs. 25 uonas 2fK; ,ioo compared with 1177,600 yesterday Thus far this week, 11,003,450 Same period last week. J489,900. 80",- S0 Vs 87 87 5.) 50- TS 7891 78vli V ,1 serve three years will be held r ,, h"J office of the company In the Penn xt?.?"": Rulldlnx. flth and wiut ,. . WW. Mutual Pi,; on Moudar, January S. IBjo ua thV'hours of 16 ii.,i(' ttveen JOHN HUMPHREYS Becretary and Treasure, ,rfIUK ANNUAL MEKllNu OF TliT- Policy HoWers of the ;Mnlon Mutual Flro lnsuraneei Company wl be held at ?ii JrHceof the Company. 414 wid.ner .Bufldin!? 011 Wrdneaday. January 80, 10So, nt . SL to elect directors to oerve fof 'the ensilni ar and transact any other business iha? mar leKally come before them. 'n,, n. ,-. ui.t, secretary !- THE, ANNUAL .MEETINO OF THE ,K9M American Shipbuilders and 8hi owners' Mutual Insurance Company win be held at the office of the company. 22U Vvi. Sutareet. Philadelphia on Thursday, jJt m' HENRY F. CLAnK. Secretary. FIRST NATIONAL HANK Philadelphia. Pa.. December IS. 19lu. m Annual Meetlnr of the atockholdera vlfl be held at tbo bsnkliur house. 31? Chestnut st on Tuesday. January -13. 1JJQ M W o'clock miJI0MAS ANDnBW , Caahler. SSmVTHK' yHILAPri.PUjA NATIONAL ape. MINI-NQ STOCKS li'r m HANK Phlladelnhla. December 13, Yanfcl be I Inr he tSmn 1019, ,rm 1, Ivours of IS I raectlon for Plreciora will Alfli-nr Col AUska Mlns . Atlanta Belcher Divide Booth Caled Mln Ccnadu Copper .. Cons Vlrrlnla ... . Cons copper H ... Crescent McNan.ara .. Eureka Croesus 4 Mlrlne . . Golden Gate bxp . . Oold rcewanss Hold Merger Great Bend Hecla junina . . Jumbo Extension Knox Divide . . McKlnlcy-Darrash McNamara 1 Gold Zone Mother Lode NUon Nev . .A... Onondacro Rochester Mines Rope Group .. Tononah Helmont Tonopah Cash Boy .. Tonopali Divide , . Tonopah-JIm I Innopah Mldwav .,,. Tonopah Montana . , . Tonopah Rescue Eula 1'nlted Eastern . Victory Wllbert terrlnaioo Allied Peekera i'onenhaaen flGi b. HOVt'Utri wrttJK JUT TaL.H BOND 11- 1 , 2 ft S- I1? Hi l"s :i 4 4 4 A 12 117 47 32 6.7 , 21 2 S 19 in i2sA 4 in 1 27 6 32 Vi X 5 19 1, 3 4 8" 12 117 41 31 62 19 3Vj 87t 1 05 ,2H 17 10J 9 B', 7', 43 07 80 '4 19U 1J 41V lia 1 27 A 3.' 6'5 111 HI 3 4 8" 12 07 47 32 63 24 'U 79 S . aw 19 16 & 4 -; 3 79 i , 4 19 15 r 79 K7 FOREIGN EXCHANGE New York, Dec. 20. The feature of the opening foreign exchange figures this morning was a live-cent rally in sterling demand, gonng to 3.7014 and cables to 3.80. l'rancs were also un two centimes, checks being 10 00 and tables at 10.8S. Other quotations : Liie checks 13 32. tables 13. '10; Swiss clucks 5 52, cables 5.50; guild ers checks 37, cables 37; Spanish checks 10 50, cables 10. GO; Stockholm ciiecus l-i j.u, tnuies Zl.XS; Christi auia checks 20.10. cables 20.25; Co penhagen checks 18.20, cables 18 35; Helglan checks 10.52, cables 10 50 murks 2.12 MONEY-LENDING RATES PHILADELPHIA Call, 0 per (Pin time, 0 per cent; commercial paper' three to six months, 571 or cent, and six months, fal (J per cent. LONDON Money is quoted at 3 per cent. Discount rates; Short and three months' bills, fJl per cent. BANK CLEARINGS Bank clearlnze today compared with tor responding dav Inst two vears iniD 191S ini- Phlle 77 278 444 H 7nn T J57 1)01 01'. n I uiu nnT son 724,074 079 . Boston 70 .'l 041 70 671183 4." 073 (179 Reserve Banks' Discount Rates Official discount rates at tho twelw Federal Iteservc banks were ns fol lows ; (The first column gives rates for all periods up to and including a fifteeu duy maturity, tho fecond for n period of sixteen to ninety dars. The ti,t, and fourth columns give the rates for discounts of collateral loans secured lis government bonds or notes.) womi paper Gov't paper lfltolio 10 to 00 16 days davs 1.7 rtnv... ,-. .,.. ,ia ...-H"J nosiun . 1 1 New York .. Philadelphia Richmond . Cleveland Atlanta . Chlcato , St. Louts .. Minneapolis vansaa vtiJ; Sales zoo 100 100 700 700 too 200 '.'00 200 '00 100 000 800 100 1100 200 400 7000 600 3700 300 4000 100 600 100 100 1800 100 1600 .700 tcoo 13700 100 7no 400 409 270 9,10 ' 10(1 100 400 2200 1400 700 300 200 800 400 13400 4S0O 1500 100 12J0 1400 100 6100 400 J00 1509 (100 too 1101) 100 200 7J0 700 100 400 800 100 800 500 1100 200 100 200 .1700 3700 3000 3209 C00 930 300 COO 60,1 100 2J0 8600 18)0 100 709 2J1 200 2109 f 100 28 ID 3SI0 2)0 no 100 800 300 too 200 200 1700 2000 400 25J0 200 t)0 15)0 700 100 100 27J0 100 200 GJ0 200 30)0 10 JO 100 .100 700 1800 700 400 1100 200 100 1.190 1990 7510 100 tfOO 400 800 590 300 C00 200 100 too bOJO DIr. ln Hlrh 31 43?i 71 H 3 4014 945 Adams Express . .. . Advanco Kumely . . 0 Advance Itumely pf . . Alnska Juneau O M. .. Allls-Chaimers Mfg 7 Allls-Chalm Mfjf nf 8 Am Agrlo Cliem 91 6 Am Agcjo Chem pf . . . 97 3 Am Bank Note . . . . 47 8 Am Boct Sugar OJyJ 8 Am Uosch Magneto ..123S . Am Can , 55 4 Am Cotton Oil 47 .80 Am Druggist Syn .... 11JS .. Am Hido & Leather .. 25 7 Am Illdo & Leath pf.117 .. Am Ico 47J.J I Am Intcmnt Corp .. lllyi 3 Am Linseed 68 0 Am Locomotlvo 9(t 7 Am Locomotlvo pf ..104 .. Am Ship & Commerce. 20A 4 Am Smolt & net 08 7 Am Smelt & Hef pf... 96yi 8 Am Snurt 105 (J American Snuff pf ... 85 , 3 Am Stcol Toundries .. 45 7 Am Sugar Itef 137 10 Am Sumatra Tobao .. 97 Y Am Tel & Cublo .... 50H 8 Am Tel & Tel 98J4 AmTob-Seotcmpctfa.. 08M 20 Am Tobacco ....... .274?4 7 Am Woolen 128H Am Writing Paper pf. 56 . Am Zlna Lead & Sm... lGpi 4 Anacond.-v Copper ... 58 Vi Asso Diy Goods CO 7 Asso Dry CMs 2d pf . 74 2 ( Asso DTy Gels 1st pf . 73 r. Associated Oil 118 Atch Top & Santa Fo. 84 5 Atch Top S. S V pf,.. 7834 . Atlanta Dlrm & Alt. . . 7 7Atlantla CoaBt Line . . 92 10 Atl Gulf & W I S S...174 Auto Sales C tern ctfs. 2014 3 Auto S C tern ctfs pf. 34 74 .50 Baldwin Loco Ill . Baltimore & Onlo ... 3'2?4 4 Baltimore & Ohio pt . 48 8 Barrett 121 ? Bethlehem Motors ... 2954 Bethlehem Motor rts... a 7 Bethlehem Steel 91' Bethlehem Steel B ... 96 7 Bethlehem Steel 7.. 90 . Booth Fisheries 1.1 -. Bklyn Hapld Transit. 13H Bklyn B T ctfs of dep. 10 U . Bruns Term & It XI . . TA t Brooklyn Union Gas. 60 .50 Butto Copper & Zinc. OK .' Butto & Sup Coppct.. 20 i,i . Caddo Central O & R. 21',, 4 California Packing .. 80 . California Petroleum . 44 10 Canadian Paclfta 13 5 Central Leather 95 7 Central Leather pf ..lO&'A 4 Cerro do Pasco Cop . 56 2 8 Chandler Motors ....123 4 Chesapeake & Ohio . 6 Chi & K I pf U T ctfs. 414 . Chlcngo Gt Western . 7Ja 1 Chi Gt Western pf ... 22?4 ., iil Mil & St Paul ... :0'8 . Chi Mil & St Paul pf. 4J8 7 Chi & Northwestern. S7?i . Chi Bock Isl & Pac SCJ Chi li I S. Pao 6 pf 59 .. Chllo Copper 1!S 3 Chlno Copner 30 . CIov Cln Chi & St I, 46 ( Cluett Peabody .... 85 . Coca-Cola 39 ?8 4 Columb Gas & Eleo . (3 1 Col Graphopliono .... 5914 7 Contolldatod Gas . 3U .. Consolidated Textile . 1 Con Textile rts "a Continental Candy . 13 ! Con Interstato Cal M. 19 Corn Products Bet... fCJ-a 1 Crlpplo Creek & Cen . 5 IS Crucible Steel il7 . . Cuba Cana Sugar ... El's 7 Cuba Cane Sugar pf.. 84'a 9 Delaware & Hudson 199, .. Demer & Rio Grande. C . Denver & Rio G pf .. 14 1 Demo Mines l'l . . Kmerson-Brantlng ... 28 5 Lndlcott-Johnson ....13C Endlcott-Johnson pf..l03?4 Erie 13'4 .. Erie 1st pf 20 Erie 2d pf Ilia 8 Tamous Players-L ... 87 Vt 2 Federal Mln &. Sm pf 28 .. risk Rubber 41"2 2 Freeport TcSxas 2!s J Gaston Wins & Wig . 184 6 General Cigar 7'2Ks 8 General Electrlo 100 1'2 General Motors 139! 4 0 General Motors deb .. e(!' General Motors pf . 88 U Goodrich D F to, Granby Consol M . S 49 !4 T Gieat Northern pf . . . "0" 4 Gt Northern Oro ctfs. .'a Greene Cananea Cop . :'3Js Gulf States Steel . 70 'A 7 Illinois Central h8J4 0 Inspiration Con Cop . 5'2?4 Interbor Con Corp . . . Inter Con Corp Pf . . Int Agrlcul Corp . . . Int Harvester 7 Int Harv pf new . . . . . Int Mer Marina Int Mer Marine pf . . .. International Nickel 6 Inter Nickel pf . . . . . International Paper. Iron Products Corp . Jewel Tea 7 Jewel Tea pf 2 Jones Bros Tea . . . . Kan City Southern 4 Kansas City So pf 4 Kellv-Sng Tire .. 8 Kelly-Spring T S pf 10'2 2 Kennecott Copper .... 28 4 . 12 3i . 10? .133 114 . 49? .1(1 8 !-'2 . 21'4 9J . 75 . 39 b ., 15 . 41 . 26 . 16 it'A IS 014 Low 30 M 42 Ji 71J4 2 40 9 Yl 94 97 47 65 y2 123 Vi 54 H 47 11 H 24 Vt 11015 47 t 109 68 05 101 28 68H 06 105 85 44?4 137 '4 Oft? 50 08 a noli 274 12714 54 16), 58 60 7114 73 118 63'a 78 7 toi 173J, 19 4 33 1095J 31?a 144 US 29 s 91 '4 95 tt 90 13 13', 10 l'a 7!i 45 9V, 26 21 79 44 132 91 914 108 Vi 557a 123 55 4'. 7 "a 22 y :s St 87 26 58 1894 4414 I' 4 94 I9?a 12 Vt 574 V2 .H 34 13K2 18 8514 5 21314 51 HVt 1994 0 13?4 13 28 1.151-4 10194 We 19 Vt 14 'A 86'i 27 J'a 4U'a CO 18J.4 72 J4 116 tar. 14 hc'4 SS'a 7994 494 8 tit 3JTa 704 18 5J 3J4 1294 1014 133 114 4914 107 Vt Wt 9J 74?4 9 154 40 25 Ji 16 444 130, 193 284 30K V 42H1" Vt 714 H 3 - 4 40 - 944 Vz 94 07 47 954 1234 4 5194 4 47 W 1114- Vt 2494 Vt 1164 J4 474- H 110 , 94 68 - Vt 954- ' loi 4 294 4 C894- V 96 105 85 46 ?4 1374- 1H 054- 4 50 984- 14 684 154 27494 1194 1274 H 544- ?4 10J4 54 B8U . . eo - 91 744 .. 72 54 1'8 84 7894 H 7 - 'A 92 U4 173' Ji 1954 . 3.1 - 14 110 54 54 324 1 474 34 121 4 .. 4954 54 54 S4 914 J4 9554 i 90-9 13 134 4 104 74 14 494 554 94 li 26-54 21 - '4 80 ' 94 44 1 4 13294- 194 0454- H 1084 'A 56 12.1 54 554 14 44 74 4 234 14 f84 4 54 i 34 87 74 204 54 J!0 I 1894 36 4 3 851 1994 54 (2J4 54 584- 94 83 34 11 4 H- 'A 134 19 85j 5 215 6U4 844 9?4 6 14 13 28 134 204 14)4 m 28 . 184 724 1C0 137 864 , 40'i 785s 374 88 12 - 3 ?i 1394 . 1954- 133 - 114 494 . 1084 21 W 93 - 75 - 194 184 40 - 254 16 444 1364- 102 284 ire in . iiisu 2100 1.20 iteyeiona Tire es nuo, ; 1800 0 Lackawanna Steel .. 8794 100 .. Lako Erie & W pf ... 1594 1700 .. Lee Rubber A TIra .. 2894 1200 3.51 Lehigh Valley 424 900 12 Liggett & Myers Tob.iJ'A .. Loft Corp 2(94 .. Loose-Wiles Biscuit.. 70 7 Louisville & Nashville, 11114 4 Mackay Cos pf 644 7 Manhattan Elev guar. 42 ., Martin Parry Corp .. 254 ,. Maxwell Motor ctfs. . . 305 .. Maxwell Mot 1st pf.. 3 2400 100 800 100 1100 100 100 200 100 200 12200 :oo Low 44 804 1594 X7J4 42 Ji 1954 204 70 1095 C4l 404 25 805 3 Today'! Net Close Chse. 444 S . Max Mot 1st pf ctfs. 7 May Dept Stores . . , 10 Mexican Petroleum . 2 Miami Copper 6294 C294 1700 1.20 Middle States Corp 2500 4 Mtdvalo Steel & Ord 500 .. Minn & St Ij new.. 2500 .. Missouri Kan A Tex 100 . . Mo Kan & Tex pf . . 2700 .. Missouri Paclflo .. 2000 .. Missouri Paclfta nt. 200 3 Montana Power 594 500 7 Montana Power pf . . 100 .118 .32354 . 22i . (3i . 494 . 134 . 9J4 . It . 204 41 50 3.50 Morris & Essex 71 100 200 700 200 100 300 100 3 Mulllns Body 50 3 National Acme 3694 .. Nat Aniline & Chcm.. 684 . Nat Conduit & Cable.. 104 6 Nat Enam & Stamp .. 8514 5 National Lead 82 New Or Tex & Mcx . 41 94 1400 1.50 Nevada Con Copper . 15 200 10 New Tork Air Brake.. 1114 5 New Tork Central ... 94 1 New Tork Ont & W . . 104 .. New Tork N II & H.. 27H 7 Norfolk & Western ... 9854 5 North American .... 52 5 Nova Scotia 3 & C . . 73 7 Northern Paclfta .... 8194 4 Ohio Cities Gaa 484 !0 Okla Prod & Ref .... 914 .. Ontario Silver Mln.. 94 5 Otis Elevator 136 . Otis Steel ?594- 4 I'aclfio Development ..744 5 Paclflo Gaa & Eleo ... 595 . Pacific Tel & Tel 36 C Pan-Amer Petrol & T. 1084 . . Pan-Amer (B) 104 4 4 4 Vt VA A Vt 54 4 54 H 94 54 54 Vt 54 54 ?a 4 54 54 54 54 3290 700 3000 .100 200 200 2900 15000 2200 100 300 ltoo 400 109 100 8000 6200 CO00 400 7390 400 1800 709) 100 100 1700 3400 3)0 2)0 3400 100 1100 QQ 6 100 290 300 100 2110 400 200 100 leooo 500 2500 8 1600 2)0 100 2.10 400 200 600 96)0 500 5300 2000 600 200 8200 200 100 1000 900 3200 1100 700 100 200 300 2500 100 100 00 3000 1400 100 100 300 400 200U 3000 15'JO 200 2500 10230 100 1200 1800 800 200 100 210 2100 1 100 IJJ 300 100 100 too 500 1100 800 900 15)0 14)0 2500 200 100 300 800 luidl sulci 481,300 chares, compared with 1.103.200 shares yesterday thus U72.JOU Pan-Amer Pet rts ... . 54 3 Parish & Bingham .. 464 3 Pennsylvania R It ... 40 54 . Pcnn Seaboard Steel . 34 . Peoples Gas Chicago, . 3594 . . Pera Marquette .. !854 . Pcro Marquetta pf . . . 60 6 Pera Marq prior pf.. 10 3 Philadelphia Co 3594 .. Plerce-Arrow Motor .. 7854 .. Pierce Oil 10W 5 Pittsburgh Coal of Pa. 194 .. Pittsburgh & W Va .. 284 6 Pitts & W Va pf .... 75 1 Pond Creek Coal .... 2094 8 Pressed Steel Car ...1014 8 Pullman 1135 5 Punta Alegre Sugar .. 934 3 Ray Consolidated Cop. 2094 8 Railway Steel Spring. 904 4 Reading 774 2 Reading 2d pf 344 . Remington Typewrit.. 87 7 Rem Tjpifwrlt 1st pf.101 0 Republlo Iron St Steel. 114 54 4 Rcpub Motor Truck.. 5454 70 Royal Dutch N Y ... 9954 . . St L San Francisco... 1754 . St L Southwestern... 12 St L Southwest pf... 234 .. Saxon Motor 1454 Seaboard Air Lino pf. 134 8 Sears-Roebuck 227 54 .. Shell Trans Trading. . . 78 Sinclair Consol OH .. 4494 0 Slosa Sheff S & I ... 7354 C Southern Pacific ....10514 .. Southern Railway ... 224 5 Southern Railway pf . 57 4 Strombcrg Carb ..... 744 7 Studebaker 1054 6 Stutz Motor 1124 3 Superior Steel 40 .. Tenn Cop & Chem ... 10 .. Texas Co 232 . . Texas Co rta 61 54 .. Texas & Padua .... 434 li Tobacco Products ... 02 7 Tobacco Products pf.. 1024 1 Twin City R T 33 .. Third Avenue 12 . . Transcontinental Oil . 39t 6 Transue & Wm Steel. . 024 8 Underwood Typewrit .188 .. Union OH 36i 10 Union Paclflo 121 4 Union Paclflo Df 06?4 4 United Alloy' Steel ... 0 5 U S C I P & Fdry pf . 53 .. United DTUg 112 .. Un Ry Investment ... 104 .. Un Rv Invest pf .... 2554 .. United Retail Store . 11 8 U S Ind Alcohol ....106 ..US Realty & Imp... 40 8 U S Rubber 1264 5 U S Steel 1054 7 U S Steel pf 113 0 Utah Copper "34 .. Utah Seo 10 .. Vanadium Corp J9i 4 Va-Carollna Chem . . . "i7 s Va-Car Chem pf ....113 .. Wabash 84 .. Wabash pf A 234 .. Wells Fargo Exp ... 63 . Western Maryland . . . 1154 . West Marjland 2d pf. 1754 .. Western Paclfta 204 4 Western Paclflo pf .. 60 7 Western Union Tel .. 874 7 Westinghouse A Br. . .1134 Westlnghouso E & M. 5354 .. Wheeling & L Erie ..12 .. Wheel & L Erie pf... 184 White Motor C0 .. Whlto Motor rts 254 1 Willys-Overland 2894 7 Willys-Overland pf .. 90 5 Wilson & Co 814 7 Woolworth pf 1135 .. Worthlngton Pump .. t8 far this week. G 307 000, same 11694 219 2254 34 49 13 994 14 26 404 684 t 100 ' 71 60 3654 68 104 854 814 4194 1494 111 69 164 264 S854 61 71 814 40 0 54 04 135 354 73 5i 694 30 10054 102 54 5i 404 404 34 3354 J.754 60 66 35 77 19 54 6154 26 54 75 2555 101 1134 93 204 064 7654 3454 87 101 1134 644 9S5 16 12 23 144 13 "J74 43 724 :o354 22 04 4 10.194 112 46 9 ;29 CO 4.1 9194 1024 35 13 105', 024 188 35 123 60 50 63 142 10 2494 91 1054 40 1245 105 113 8654- 154 !8 42 19554- 254- 70 111 614 4014- 25 30 W 394 63 - 94 0294 - 2 118 1 220 - 4 32 H 13 9 14 264 41 09 100 71 50 -3694-68 -19' 854 81 4194 - C9 1094 37 984 62 73 8 11 4094- 94 ' 94 135 - 35- 744 59- 30 107 10294- - 4014 104 34 34 28 60 t,S 35- 54 77 - 34 19 !4 6194 - 54 28 194 75 - 2554 101 1134 f.1 -2054 964 I- :VA- 314 87 101 - 114 23 -14-13 227 54 104 -13' 57 t-744- 104- 112 40 -10 . 139 -00 -4394 93 f 10354- 35 - 13 394 63 188 - 15 -12354 - C6 60 53 142 -1 10 25 91 100 40 94 14 454 54 'i . 2 94 Vt ' 1 1 94 -4 94 94 LOCAL MARKET STRONGER . AND PRICES SHADE BETTER Liquidation in High-Grade Investment Stocks and Bonds Believed to Have Run Its Course 1 1 94 A 1 54 54 54 Vt H V !4 94 1 154 54 94 54 194 94 54 3 54 U4 154 Further substantial improvement in both tone and in prices was made in today's local market. The volume of deal ngs was fairly large for the half holiday and quite well distributed. ihc outstanding feature was the withdrawal of liquidating pressure against the seasoned dividend-put lag stocks. There wns a notable rebound lu Lehigh Navigation of $1.50, to 0.1 Vi, icpiestntlng a net recovery of over $5 from the recent low price.'1 Pennsvl vn,ij a Railroad mocd up to 40-Vi. while United Gas Improvement had n firm market at C2. Hotter prices, houover, were regis tcrcd along the whole line, the only noteworthy exception occurring in American Itallwiijs preferred, which was S0.50 down from the previous snlc. On the other hand, Oeneral Asphalt preferred on n few sales jumped .$13 to 105. Electric Storage Hattery in early dealings sold up to 1.1.1 Vi, inter reacting to 132ii on profit-taking. The improvement also extended to the boud division. .Substantial recov eries were scored by L'lectlic nnd Peo ple's 4s, Philadelphia Kleetric llrst 5s nnd Lehigh Valley general Jis. In brief, it was tin most rheciful local market seen in many weeks. The overshadowing development of tho week's operations in the local mar ket was the persistent nnd insistent liquidation of the high-grade invest ment stocks nnd bonds. This selling did not reach large proportions, but the seemingly .endlms offerings of these stable shares was beginning to get on the nerves of the street. The belling wab popularly ascribed to the so-called establishing of losses for the income tax statements. No doubt a large amount of it wus for that pur pose, but there also appealed to be some hidden influence. Just what it was still remains in the nature of a mvs- tcry. One thing patent, however, was that the line of least resistance in the market was downward. The extreme narrowness of the current dealings and limited biijing power would partly account for this clement. Some, however, seem to thlnlc it fore shadows 11 radical change in the gen eral situation. These critics point out Hint liquidation in business Is impend ing. It may not come lu six months, they say, but assert it is on the wa. They say there must be a drastic ic adjustment fioni piescnt high prices of commodities, and the sooner it comes the better. The entire market acted better, re flecting in the stronger tone of the bond division. On the other hand, another set of market observers declare tho worst of the had news is out nnd big business is ubeiul. With the re-establishment of the equilibrium of the money market, everything iu the business line will make a frch start. The world, they point out, is virtually hare of supplies. Un der rather thou over production is the principal fault in most industrial lines nnd until the production has caught up with the demand. Iheie is little likeli hood of any liquidation in business or drastic adjustment in prices iu geucral. In the meantime it is admitted on all sides that all the leading investment shares hive tinqucstioimblv reached an ntti active basis of investment leturn. The muikct, in truth, is full of bar gains. .Many of the leading shares nte returning 7 per cent nnd morn nt the current prices. These nrc dajH of rare opportunities in stock market bargains. The bargain hunter is nrouull, and sooner or Inter the effect of his small but persistent purchases will bo felt in the gcncial murkct. Iteasonablv much of the adverse side of the gcncrnl situation would becmingly be ovcrdis 1 counted by the abnormal low level of security values. '' wwrl CORN IS IRREGULAR 'IN INITIAL TRADING Rally in Foreign Exchange and Car Shortage Help Under tone Later 9 7 Ot.94 113 8 54 23 13 1194 1794 20 60 87 113 6394 13 18 5094 3 2894 89. 81 11394 (594 period 1-.4 54- 1 105 - 113 354 10 S - 17 113 - 8 23 62 874 18 00 354 -89a 8954 81 11294- t7 h 94 94 54 1 91 54 94 1 lust week. GnIN- BELT WnATHKIt rORECAST rhlcnrn, Dec, 20 Illinois Missouri Wisconsin Minnesota South Dakota Ne baska anil Kansas Ililr tonlkht and Sun day warmer. Iowa Fair tonlcnt and probftblv Hunday colder northwest tonight North Dakota ralr tonUlit, becomlnir uf. scttlocl "!undaj Wjomlnn ralr tonlaht and Sunday, except rain or Bnow extreme northwest Chicago, Dec. 20. Seutiment iu the corn market was divided this morning nnd the market was irregular in the initiat trading, but steadier after the btait. Trade was. quiet. A rally in foreign exchange helped the undertone nnd there were further reports of n shortage of curs to move grain. Cush houses sold .Tanuarj. The receipts here todn were 1S5 cars. December stinted c lower, at $1.40, and advanced o. January opened nt ?1.30 to 51.3ST',,, against $1.30 at the close jesterday, nnd moved up to $1,309. May was quoted nt $1.35 to $1.3174 at the outset, compared with $1.34 at the end of jestcrdny, and later sold at SI. 35. There was not much fenture to the dealings In oats, which were light and changes in pi ices weie slight. Scat tered commission houses bid for offer ings at the outset, while local brokers told. Culls got some encouragement from the impiovement in loreigu exenange, the rallv leading to expectations of a revival in the demand for crpott. The receipts here tod.iv were 00 cars. May opened nt 82 Vie to S2:;sc. against 82i.c at tho end jesterday. and inter sold nt S2")c. July started at 70c to "CViC and moved up to the previous close of 70i2c. The reicipts of vheot hcic today were 19 cms against 71 cars last vear; at Minneapolis, 253 cars, against 407 cars; nt Duliith, 7 cais. against 4C0 cars, and at Winnipeg, 282 cars, against 730 cars last car. Open llluh Low Close TRADING IS LIMITED ON COTTON EXCHANGE Close Firm at "Net Declines Covering and Trade Buying Promote Slight Rally COTTON BELT WEVninil CONDITION"? New lork, Dec 20 Th folluwlns tem peratures were recorded In the cotton belt !.o. ,m.'!nl,n.K. Wllmlnirton and Oklahoma. si Little Ilock and Tort Smith 12. Nash vlllo nnd Atlanta 34 Ablleno Chattanooga nnd Knoxvlllc so Awruita nnd Charles ton. 4(1 Macon 12 .Shroveport and Vlcks liuru 44 Sin Antnnlo 4(1 Meridian und Snvnlinah 4R Cornus Chrlstl SO, Galv" ton and Ja ksonvllle M, Pensncola, 00: Tnmpa and New Orleans ns 11-ero inn 01 Irch of precipitation at I hattanoom. 0(1 Inch nt Montgomery: 10 Inch ut Wllmlnorton 12 Inch nt Au austn 2J Inch at Vlcksbur 24 Inch at Meridian. 40 Inch nt Pensncola and ,42 Inch nt Atlanta New York, Dec. 20. Trading in cot ton lemained small today, nnd the mar ket was irregular. There was further evening up for over the holidajs. Dur: ing the week a good deal of progress wi's made in that directum The report of the Census Kiireau on ginning operations showed n heavier output than had been expected, but en couraging featuies for buyers were not lacking. Foreign e.(hangc rallied, nnd pros pects for an early ratification of the pence tientj weic believed to he brighter. The market finally was firm at a net decline of 12 to an advance of 20 points, coveting and trade bujing promoting a late rull.v. Previous clone Open Hisli Low Close ttor Jan VIch May . 32 118 3J 11 3J 7a SJ.4.' 3.' 70 .12.75 Jt.lv .111,111 .1(1 K". .111)1) ,1117,-, .ItltlRtMl Hi) vjci -rn -i.i -0 ai -a 4a ua ij --a a Bid 3R 10 " on 'IS sii .in R9 m.so in oi 30 37 an ssftin no 31 W 14 T .14 90 .14 B0 II 70 014 7.1 Deo 1 1 46', 1 14 1 444 Jan 1 38'i 1 195 1 nnv 1 17. tuy 1 34 1 35I 1 33'5 1 33S Ma'i'''?-" 8J!i 8J' 81T4 82 July 704 7-i 7094 70 la?0!1'- . 30 73 30 81 16 7.1 36 S1 May . J6 50 30 25 30 '.'3 Janard 21 02 '.'1 0r. 23 00 21 00 May . . . 23 8J 23 87 23 80 23 82 Hlbs Jan 18 .'1 May IB OO 10 OJ 18 05 10 U.' DIVIDENDS DECLARED Procter S. Gamble Co , tiuirterly pf per i 45 All 4I 4l 4, 4? 4 4'j 4"t 4! 'i 4 4V? & J4t5 41 S " S itl Dalian .!.. , l 6 1 LIVESTOCK QUOTATIONS (hlcnco, Dec 20 1IOQS Receipts 15 000 head Generally st-onE. but closlnsr weak Bulk U3 90014 10. top '14120. heavs $13 008114 10. medium 113 05 1120 llKht, J13 601110, llsht llshts, $13 '.fufpll heavy packlne sows smooth, S13 3313 75 packlrz sows, roush S12 75 13.15. Plea $12 7513 75 CATTLE Receipts 3000 head Compared with a week airo- Ileef steera nnd "she" stock steady to 50c lower, canners 25c low fr, veal calves. $1 50 to IS lower bulls Ms 25c hleher stockers and feeders. 23c to 00c lower SHECr Receipts 20O0 head Compared with a week aeo Lambs steady to 20o hlsher. fat earllnc and shetp steady to lower mostly 20c down IMttfcbnrth. Dec 20 1IOOS Receipt" rnno head Market steady .Heavies. U Q M4 heavv yorkers. $14 20(14 00 lluht jorkers and pla $14 V) 014 60 SHEEP AND LAMBS Receipts 2';0O head Market i-teaUy Top sheep $10 OS top limbs $17 75 ...... CALVI'S R'celpts 00 head Market low or Top $10 'innate ( Ity. Dec 20 1IOG1 Receipts, 20 ononSad Steady L-ulk $13 7vn13 no, heavies $13 70(1)11 HO mediums $11 70 14 llahts JIIBOOISIKI plKS. $11012 00 CAT-TIB Receipts. 000 heal For, week. Steers 2'.o to SI lower: butcher slnrk 2-.C to 7"ie lower connera. weak calves 00c to $1 21 lower feeders, moitly 2uc down. HIIEFP Receipts W)0 head . Kor week; Lambs and Bheeo 25o to SOo higher feed crs stronc to higher No talcs today. i:ust Iluffalo. N. V.. Dec 20 CATTLT Receipts 120(1 Wow Calves reMints, 210 heed 000 lower tnifSO 00: few at $Jl. HOGS Receipts. 4R0O head 20o higher Heavy mixed and yorkers, $10: light do and pigs $15 JO. roughs, 18t;0: stags, $8B 12 . - . .na n..lnl- JOnO head SlJUOOo h gher. Lamhs 1JWl! 2S Seilrllngs lorain. wether. !212,60. ewes. $1011: mixed eheep. $1101! SO. r.nt Bt. T.il. III.. Dec 20. HOGS Ite relpte ROOO head. Strong Bulk. $14 1120. heavy weight $13 D0O14 20, medium weight, $13 004M4 23 light weh-ht $1S I PO0 " 1' J'?i. --ft! .,.?. SMSIM?' ..-ass ?ow. rouVh. MtTBOia MrKiisdii iC CATTLE iteceinia, tin i nenu i-.u for weeli: teera 7lic0Sl.BO lower; butchers jvocusi wwer: veaia m -wn-, LOCAL CLEARINGS EXPAND Philadelphia Exchanges 29,8 P. C. Ahead of Same Week Last Year Illustrating the vast volume of busi ness being done throughout the country, the Philadelphia bank clear ings this week were 20.8 per cent in excess of the corresponding week last year. While the percentage of gain was somewhat below that made by some of the larger cities of the country, it still proves that Philadelphia is getting its hharo of trade. Detroit headed the list with a gain of U0.7 per cent; New iorK had 52.1 per cent over last year, while San Francisco moved up 51.7 per cent. Total clearings of all tho clearing houses of the United States for tho week, according to the Financial Chronicle. were $10,131,018,133, against $7,350,172,187 the same week last year, a net increase of 37,8 per cent. Comparisons follow : K Tork.. 14 D01.773.07S JJ. 32(1.234.202 02. t Chlcagoi. 0111034, N!)l 41R,llll2.fl37 --2-'. Phlla. .. 4l.lou,uwu Roston . 40H.OOl.812 Kan. City 213.7RJ.RdO Ht.ekouU. 101,307,114 San "co 172,40i;aiO l.m.h'.h. 171.097.SSI Detroit .. 120.R33.422 lililtlmore HO 7SB no N Orleans SO 007,023 LOCAL MINING STOCkS rONOPAH STOCKS lllil Cash Roy 00 Jim Outlet . 20 MacKamura .. ,40 Midway . , , Mlzpah Extension ., Montana , Northern Star Rescue Eula. Tonopah Extension , Vet End , West Tonopah . . DIVIDE STOCKS Allied Divide jiltc Dlvldo Kclcher nen Jiur ... llrough Dlvldo .... Divide Extension . . Dlvldo Synd Dlvldo Con .... Ann awead No HAM. Kor weekl lAlntii B0o laal4 hew BHKRPHecolptd, I17O.00R.O42 --JS.8 2R(l.32a,744 --4J S 1H9.12S.81S --211.4 100,000.000 --10 i Il8,(t9,140 --B1.7 113.R27.H07 --0O.3 OH, 837,455 -1-90.7 75,120,751 4.20 0 (13,037.907 4-40,3 .10 .0O1 10 .00 .18 .10 ,04 .1(1 .Jb .10 JO Dividend .. Kast Ulvide ...... Hasbrouck Divider . High Divide .... Rovert Dlvds . .., Reno Divide ..... uosetta Silver Klicr Tonopah Divide . lonopan -'laiurojck Victory Divide .... Verdo Divide . ... Zone .OI .00 .2.1 .Oil .ou .01 .20 .01 08 .10 J" .2(1 .10 .16 30 GOLDFIELD STOCKS .03 BUTTER, EGG8 AND CHEESE New inrk. Dec. 20 I3UTTETI firm. Re ceipts 2411 tubs. Creamery higher than ex tras, 78K 074c: extra (02 score) 78c; first, 1W O72oi packing iteck, current make. No. 5. 40o EGGS steady, Receipts, 4077 cases. Fresh gathered extras 84 Sic: do, extra firsts, 82 W 83a, do. firsts, BOCtSlc; state. Pennsyl vania and nearby western hennery whites, first to extra, 8SO90o: do brown, 80G86c; do. gathered brawn and mixed colors, 84 O 85c. , . , lFiuxtnv PLCHuf, jveceipvs. ov waxes, wipi jniiR, nais, current rx2fj,t.'.TO-?7.y? .T-BjTk.i, j--" ...rrr mtij Atlanta . Blue Hull Booth COD Combination Fraction Crackerjack Diomondflotl D B .. . Daisy Florence Goldfleld Con Golflflcld Mower Oold Dv ,. Great Bend ,. .iLmbo Extension ... Kewanas ,... .... lyone star Oro Red lllll ,.,. Silver Pick ., . .... bpearhead .OJ .01 .OJ ,03 .01 .01 .02 ... .311 ...12' .01 .14 .02 .07 . ... (13 01 01 ,.,. OH ::.:.:::::'.:::: :8? MISCELLANEOUS Atnparo ....,,,. H, Arizona United ,20 Eden ...,... ....,.,. . fs Mother Lnde . ... . ,., .80 Novada Hill .....,,,,...... .01 X4a. Rand ,,.,,,,.,,,-, SO, Ask .03 40 .20 .08 10 .08 20 07 IB 32 20 30 07f' 13 28 .118 (17 07 3(1 US 10 l- 3'i .2.1 .JO Jfl J2 0.1 03 .07 .01 ,00 .07 .03 ,01 .40 .14 .00 .in .01 ,00 .01 ,06 .01 .0.1 ,00 ,06 cent on 8 per cent preterreii pijauie. J an uerv 10 to Htock of record December J4, Federal Oil Co quarterly of 2 per cent and extra of 3 per cent on common, both pa able Tebruary 10 to stock of record Janu. Erie Lighting Co., quarterly of l't per cent on preferred, payable January 2 to stock of record December '. ' United Verde Extension quarterly of VI cents h shire payable February 1 to stock of record Januarv 0 Montgomery, Ward ft Co , a dividend ot Kl pent nn nAW nrpferrod navable Jan uarv l. to stock of record December 31. Northern Pacido Railroad, quarterly of $1.70 payable February 1 to stock of record December 31 .... . American Shipbuilding Co . quarterly, of 14 per cent on preferred payable February 2 to stock of recird January V Brier Hill Steel Co , quarterly of IU, Per cint on prefened. piyable January 1 tu stock of record December 20 Island Creek Coal Co , qunrterly of Sl.SO on preferred, piyahle January 2 to stock of record December 26 American Cynamld Co . semiannual of 3 per cent on preferred, payable January 2 to stock of record December 22 Central and South American Telephone Co . quarterly of $1.70. Payable January ., .tnir nf ranfird December 31. Shattuck Arizona Copper Co , quarterly of 20 cents, payable January 20 to stock of record December 31. CHICAGO BUTTER AND EGGS ( hlcaro. Dec 20. BUTTER hjeher. CT?8SFiJ? 6RCecelpts. 2,016 case. I'ir.. SSSTiiSS: ' at mark Less Cotton Ginned Washington, Dec. 20. The census bureau in its report issued today places the amount of totton ginned from the growth of the crop of 1010, prior to De cember 13, at 0,-102,020 running bales, counting round bales us half bales and excluding iintcrs, against 10,281,130 bales in the same time in 1018 and 10,131,504 bales in 1017. The gin nlngs included 103,020 round bale-, 27,000 bnles of American -lgyptiau and 0420 bales of Sea Island. NEW YORK COFFEE MARKET New York, Dec. 20. On less favor able cables than had been expected cof fee futures opened 0 points lower this morning. Trndo interests were the mincinnl sellers. Commission hniifcon,.., j: nhv.mhf.il nflVrinPH on flu. decline. r.! After the call tho miukct was dull ,r nnd featureless, with only a couple ofjif lots ot Mnich tiaded in ut 10.00. Ocen Hlch I-nw Clfio close 1.1 21 11.16 11 10 10.10 14 00 14.00 14. (.0 14 (10 -11 70 14 IW 14 81 14. R 14 80 13 00 14 RO 14 07 14 Dd 10 08 10 00 13 03 10.13 lflO-i 10 111 11.11 15 2(1 10.21 10 27 13 30 10 27 1". 86 10.38 13 JS 10 21 September Octobti December Innunry J-ebruary March April . luno July August Bid J GOVERNMENT BONDS Hill on; . 00 i)5 HH"j NXU, Panama coupon 2s 1036 Pannma replstertd 2 193(T Panami counot 2a 1038 Panama lexlstereil 2 19 18 Panama coupon 3s 1001 Pnnama registered 3s, 11161 Philippine 4s 1IH1 Philippine 4s 1981 Philippine 4s, 1986 IJ S Govt coupon 2s 1810 II S4 Govt registered 2a inso IT h Oovt coupon 4a, 1021 V 8 GovtVeslstered 4s. 1H21 D'st of Columbia 8.61s, 1024 . Xi 112 . nj , 02 loo .100 101(4 .ioi( 1)7 Asic ,I ino'l -JI 100'J SaJ loot 100'J Ag& oovJ 'iSfi) in wl nn IM on ivSl 100'i 3Sfl 10(11.4 ffl 10(1(4 ill BAR SILVER Commercial. bar silver was quoted In ' ! V- 1-mI. .mln.. of CM 'I1 n.. ji irw .iv umoj iv vv.""7U ill! UUnt'e, n gain of ',.(, In London the price was 77-7ili down (. .50 rna o'- .K msvmo. nana ,,,,,. ,:-( , Hg At1"1" '&.' wFT-a"' . Jj ORGANIZED 1889 Capital, Surplus and Profits 1894 1899 1904 1909 1914 a a 9, 4 MMHM $ 344,000 449,000 1,140,000 1,304,000 1,551,000 Deposits $ 042,000 1,825,000 2,836,000 3,984,000 4,99,0Q0 Trust Funds ? 228,000 2,154,000 2,433,000 5,010,000 9,27,00O t't' ! t " t. rnftin, ymm.mit.t IKllllH, .s SlMJwaJia.,V' to )0W. rv, , nvocxsjs & ...V.-'Y aJ I v ?v &.J. i r V. ...jL.,i.i, i Tiuntl tii-'iU'il r- mszMzszi 1 1,' . fi Jjm - att.-..j .... HMRWvrirwn l Wti8mPmzzx:zsmiM BrEtMaasai
Significant historical Pennsylvania newspapers