t . rtA
18
EVENING PUBLIC LED GEE PHILADELPHIA, SATURDAY, DECEMBER 20, 1919
NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
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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