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EVENING, PUBLIC LEDGEIMPHILADELPHIA, WEDNESDAY, DECEMBER 31, 1919
n
" i ""'vj
IK
Nr
Coupons Maturing January, 1920, Payable at the Offices of
Harris, Forbes & Co.
Pino Street, corner William, Now York
rinsT
Alabama -Power Co. 6 Gold
Notes.
Albert Lea, Minn., Permanent
Improvement 4J4s.
Albert Lea, Minn., Refunding 4s.
Albuquerque, N. Mex., Bd. of
Educ. School Bldg. 4s.
Albuquerque, N. Mex., Funding Ss.
Albuquerque, N. Mex., General
Street Improvement 5s.
Albuquerque, N. Mex., Water Ss.
Arlington Heights, ill., school
Building 5s.
Belvderc, 111., School Dist.No.57 5s.
Benton, 111., Refunding 4J4s.
Bcrryville, Va., Water Works 5s.
Big Rapids, Mich,, Refunding 4s.
Billings, Mont., Sch. D. Mo. 2 4jS.
Billings, Mont., City Hall 4s.
Boulder, Colo., Water Works 4s.
Bozemau, Mont., Funding 4s.
Broadwater County, Mont., Fund
ing 4s.
Burlington, Iowa.
Carbondale. 111.. S. D. No. 95 5s.
Cascade Co., Mont., Road Impr. 5s.
V.OSVUUU VV., 1UUIH,, V.UUII ft. DC TO.
Cascade Co., Mont., 3s.
Cascade Co., Mont., Fund'ng 4s.
Cascade Co., Mont., Refunding 5s.
Cass County, Iowa, 4JJs.
Centerville, Iowa, Refunding 5s.
Ccntcrville, Iowa, Refunding 5s.
Centerville, Iowa, Refunding 4s.
Charlton, Iowa, Funding 5s.
Chicago Heights. 111.. S. D.No.170.
Chippewa Val. Ry., Lt. & Pr. Co.,
Eau Claire, Wis., 1st Mtgc. 5s.
Colo. Spgs., Colo., School Dist. No.
11 Refunding 5s.El Paso County.
Consumers Pr. Co. 1st Lien & Rcf.
Gold 5s.
Consumers Power Co. 6 Notes.
Cook County, 111., School Dist. No.
99 (Morton Park) Ay3s.
Cook County, III.. School Dist. No.
170 (Chicago Hts.) 4s.
Council Bluffs, la., Ind. S. D. 4s.
Cuthbert, Ga., Electric Light 6s.
Cuthbcrt, Ga.. Water Works 6s.
Danville Si. Ry. & Lt. Co., Dan
ville, 111., Rcf. Mtgc. 5s.
Denison & Sherman (Texas) Ry.
Co. 1st Mtgc. Gold 5s.
Dcrry, N. H Water 3's.
Des Moines City Ry. Co. Gen'l &
Ref. 5s.
Dexter, Mo., School Dist. School
iilcig., js.
Dickey County, N. D., 4Js.
Edison Elec. Co., New Orleans,
1st Mtgc. 5s.
Elbert Co., Ga 6s.
Eminence, Ky., 5 Street Imp.
Eugene, Oregon, School Dist. No.
4 (Lane Co.) 5s & 4s.
Florence, S. C, Sewer 5s.
Ford County, 111., S. D. No. 58 5s.
Fort Dodge, Iowa, W. W. AlAs.
Freeport Water County, 111, 5s.
Geneseo, Idaho, Water Works 5s.
Genesee Township, 111., High Sch.
Dist., 4'Ss.
Glcncoc, 111., Improvement 4s.
Granite, Utah, School Dist. 4s.
Glenwood, Iowa, Refunding 5s.
Gorham, N. H., Water 4a4s.
Great Falls, Mont., Sewer 5s.
Green. Bay, Wis., Refundihg 4s.
Green Bay, Wis., Sewer 4s.
Greenville, 111., Refunding 5s.
Hamblen Co., Tenn., Highway 5s.
Hickman County, Tenn.
Hill County, Mont., Funding 5s.
Hill County, Mont,, Court House
& Jail 5s.
Helena. Mont., "Judgment Fund
ing 4s.
Hudson, Iowa, Consolid't'd S.D.5s.
Humphrey County, Tenn., Road &
Bridge 5s.
Hyattsville, Md., Scwvrage 5s.
fnterurban Ry. Co., Debenture
(Des Moines, la.), (i.
Idaho Falls, Idaho, 5s.
Iowa County, Iowa.
Iowa Falls, la., Refundir g 4s.
ABOVE COUPONS ALSO PAYABLE AT
Harris, Forbeo & Co., Inc., Boston, Mass., and
Harris Trust & Savings Bank, Chicago, Illinois.
zMmMs
he, Bank ,
North America
533Vational23ank3-18G4
307 CHESTNUT ST., PHILADELPHIA.
One Hundred and
Thirty-Eight Years
In Active
Banking Business
In the Service
of Our Country
As well as of our
Own Community
WE BEQ TO ANNOUNCE THAT
JAMES A. WILLIAMSON
GEORGE G. BARCLAY
WILLIAM K. BARCCAY, JR.
WILL BE ADMITTED TO MEMBERSHIP IN OUR FIRM
AB OF JANUARY FIRST, 1920
BARCLAY, MQOB& SCO-
REAL ESTATE
Members
New York Stock Exchange
Philadelphia Stock Exchange
Joliet, 111., High School.
Knoxvllle, Ia.,Judgm't F'ding 4iS.
Knoxvillc Tenn., St. Improve. 5s.
Kossuth County, la., Bridge 4s.
La Salle, 111., S. D. No. 2, 354s.
Lincoln Co., Mont., Fdg. 5'jS.
Lincoln Tel. & Tel.Co.,lst Mtge.5s.
'.ouisiana Port Commission 5s,'18.
Louisiana Port Com. 5s, 1919.
Sanson, la., Ref. 6s.
Marion, 111.
Marshalltown, la., Refunding 4s.
Marion County. la.
Martin Twp., 111.
Mason City, la.
Mitchell, So. Dak.
Monmouth, 111., Water Works 5s.
Montreal Tramways Co.lst & Ref.
5s.
Morristown, Tenn., W. W. Imp. 5s.
Mount Airy, N. C, Water Supply,
El. Lt. & Pr. Plant 5s.
Moweaqua, 111., School Bldg.
Muscatine, la., Ind., S. D. 4s.
Muskegon. Mich.. Gen. St. Imp 4s.
Muskegon, Mich., Refunding 4jS.
Muskegon, Mich., Refunding 5s.
Muskegon, Mich., Lake Michigan
W. W.-ls.
New Orleans, La., 4j4s.
Norman Co,, Minn., Dist. No. 51
4?3s.
Oklahoma Ry. First Mtgc. 5s.
Olympia, Wash., Water Works is.
Owosso, Mich., Water Works 5s.
Pendleton, Ore., W. W. (1913) 5s.
Pendleton, Ore., Water 5s (1919).
Pendleton, Ore., W. W. (1914) 5s.
Pierson, Iowa, S. D., 5s.
Plum Bayou, Ark., Levee Dist. 6s.
Pontiac Township, 111., S. D. High
School Bldg.
Portland Gen. Elec. Co., Portland,
Ore., 1st Mtge. Gold 5s.
Redwood Falls, Minn.,Refund'g 5s.
Richmond, Mo.
Riverside, 111., Sch. Dist. No.5,4',Ss.
Riverside, vlll., Water Workc4'Ss.
Rochester. N. H., City Hall.
Rosebud Co., Mont., Bridge 4Ss.
aeward Township, 111.
St. Joseph, Mich., Bridge 4ys.
Scranton EI. Co., Scranton, Pa.,
1st & Rcf. Mtge. Gold 5s.
Sedalia, Mo., S. D Sch. Bldg. 4s.
Sheridan Co,, Mont., Funding sy2s.
Spartanburg Co., S. C, County Re-
I
tuncung iy2s.
Sumter, S. C, Sewerage 5s.
Tacoma Eastern R.R.Co. (Wash.)
1st Mtge. Gold 5s.
Tarboro, N. C, 5s.
Taylorville, III., Tp. H. S. Dist.4's.
Thornburg, la., Cons.Ind.S.D.4s.
Texas Elec. Ry. 1st & Ref. 5s.
Tipton County, Tenn., School 5s.
Tullahoma, Tenn.,Elec. Light 44s.
TulIahAma, Tenn.,Watcr & Lt. 5s,
Tullahoma, Tenn.,Water Wks.4s.
Union League Club 6s.
Valley County, Mont., 4J-aS.
Weldon, N. C, Water & Sewer 6s.
West Hoboken, N. J., School 4tfs.
West Hoboken, N. J., Funding 5s.
White Plains, N. Y., School Dist.
No. 1, 5'As.
White County, Tenn.
Winnetka, Ill Park District 5s.
Y. M. C. A. College 1st Mtge. 6s.
hECOM,
Armour, S. D., Ind. S. D. School
Bldg. 5s.
Florence, Col., Water Works Re
funding 5s.
Garrard County, Ky., Turnpike
Road 4s.
Poplar Bluffs, Mo.
Temple, Texas, Public Ind. Sch.
Ser. No. 4 5s.
FIFTEENTH
Jackson, Mich., Paving, Water &
Sewer 4s.
Mount Pleasant, Mich., Water Re
funding 44s.
Sedalia, Mo., Sch. Dist.Funding4s.
TRUST BUILDING
Philadelphia
December Thirty. first
191
Am S & nof Co Ss
10000 .1.. Il4i
5000 .... MU
Am Tet & Tel clt
3000 .... 11H
14000 .... 1Hi
Am, Tel & Tel Co
6000 .... O.T.i
3000 ..... 05
7000 .... S
1000 .... OS
Chi & Erie U 11 1st
1000 .... 81
Chi & art West !
nooo , ... MM,
2000 04 I
C M ft St 1' cv 4 (i(i
soon .... loqi
itooo .... sou
10(00 .... 80
eooo .... so
2000 .... 70?;
8000 .... 10!4
soon 70
14000 .... 10,
3000 .... SO
2000 .... SO
6000 .... AOHi
1000 .... 801,4
1000 .... SO
Am Tel Hi Tel 6s
3000 .... 00
nooo .... on
3000 .... 09
4000 .... 00
3000 .... 08i
3000 .... 98?i
4000 .... 08
1000 .... 00
4000 0BH4
3000 90
1000 .... 00
5000 oy
2000
60
D000
1000
aooo
1000
2(1000
10000
5000
10000
5000
4000
1000
5000
20000
C M &
. .. 07
... 67
. .. 07
07
07
68
68
67
674
. . . . 8
. ... 8
. . . . 08
. . .. 68
St 1 CV Ss
. . 85
. ... 64
65
... . 61
.i s.'t 1' 4o
16000 ..
10000 ..
15000 . .
3000 , .
Chi M i
1000 ..
4000 ,
70
70
1000
70VS
Am Writ l'ain-i
Ch M & St 1' la 2S
10000 .... 094i
C M & St 1 cm Ml
6000 .... 77
i- . 1' rf itv Is
tooo
8t
Annie-French lis
7000
20000
100(1
30000
1000
31000
1000
inon
2000
2000
2000
10000
23000
1000O
10000
3000
1000
3000
03 13
95 13
9314
05 13
95 13
03 13
03 13
0A4
93 13
93 13
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03 13
05 13
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95 13
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1000 ..
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noon . .
10000 ..
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Wt si cm
3000
72li
Chi It A: 1'aclllo fd
1000
10000
2000
67 Vi
67
07
nooo
nn
Chi U I & I'nf 4s
8000 .... 75
7000 . . . 73
nooo .... 7fl
10000 .... 731
1000 .... 70
fh nlon !ita 4tt
1000 .... 81
7000 81
Chi ft West Ind 4s
2000 .... 38
Chlln Copper Cs
3000 83
12000 .... 83
3000 81
C O IIu-Knna; U 5s
6000
1000 .... 03 13
Armour & Co Mis
3000 82f,
I00O .... 82S
21)000 .... 81 U
2000 M'i
13000 .... Hlti
moon ... 83
Atch T & S Y adj
3000 .... 71
1000O .... 70
nooo ... 70
Atch T1SF cv 4s
1000 .... OS'il
Atch T ft S F 4s
3000 .... 81 U
nooo .... 81
2000 .... 81.
1000 .'... Rl'ji
1000 .... 81
1000 .... 81'i
6000 .... 82
1000 .... 82
tl Coast Line clt
5000 .... 71
Atl Coast Lino 4s
3000 .... 80
1000 .... 80
5000 .... 80
U Coast Line 4 Ha
10000 .... 70-74
15000 .... 70 H
Atl Knox & Cln 4s
3000 .... 76
D &. O Pitt L E &
West Vlr Sjs 4s
6000 .... 87
B & O Swcst 3 lis
5000 .... 76
10000 .... 77
Baltimore & Ohio ov
1000 .... 49
inno 411
10000 .... I
tnooo .... to
Citv at Pails 09
4000 .... 02
2000 .... 02
2000 .... 113
3000 03
C C C & St L Rm4s
1000 3
10000 .... 03
1000 .... 0
0000 .... 62
1000 63
1000 .... 63
Colo IndUbt Co Cs
.inno .... 71
Colo & Sou Uly 4s
6000 82
Conso! Gas Co cv
33000 .... 00
Dan ft Rio Grand 4s
5000 .... 471)1
1000 .... 67
3000 . . . 67 '!4
Dom of Canada '16
1000 0-
Dom of Cannda '31
4000 .... 90
Erla General Lien
1000
1000
10000
12000
12000
3000
2000
7000
1000
1000
10000
20000
1000
25000
1000
1000
6000
5000
500O
3000
15000
10000
10000
10000
14000
1000
1000
10000
10000
3000
68
59
58
50
58
58?4
00
684
58
68
58
68
88
58h
60
SO
SO
69
50
50
60
504
59
50
59
60
60
60
69
10000
1000
16000
4000
1000
2000
40
40
30
40
40
40
1000
40
Erlo Kail ltd. cv B
12000 .... 35
4000 .... 34
10000 34
Krl Kail ltd cv D
2000 .... 36
12000 .... 33
1000 .... 35
DTV&CtRRcn
1000 . 80
F E Coast Ky 4s
5000 .... 70
2000 .... 80
Creen B & W Ry B
84000 .... 8
84000 .... 8
Grt North Kly 1st
loooo .... 83
10000 .... 84
Hudson & Man fd
looon
38
1000
10000
1000
2000
3000
2000
7000
58
68
69
68
58
58
68
5094
59
1000
Baltimore ft Ohio 4a
oooo .... 6
2000 .... 60
6000 .... 65
9000 .... 6G
2000 .... 66
1000 .... 60
Baltimoro ft Ohio 6s
2000
60
Hud & Manhat In
1000 .... 15
inon . IB
Illinois Central fd
12000
4000
10000
3000
2000
1000
1000
5000
61
61
62
62
62,
t
61
62 4
10000 .... 76
osnnn .... 76
Illinois Central Es
8000 .... 93
III Cent 4s ot 53
4000 .... 71
Imp Jap Gov't 1st
4000 .... 80
noon .... 80
Baltimore & Ohio Cs
1000 ,
1000
2000 ,
Beth S
1000
6000
2000
10000
'10000
.90
90
Imp Jap Grt 2d trs
. . 00
Es Of 30
.. 86
. . 86
. . 86
.. 83
. . 84
. . 83
1000 .... 77
onn . 77
Imp Jap Govt 4
2000 .... ss
2000 .... 7
Im J Gov la ens st
9000 .... 79
1000 .... 79
Indiana Steel Co Gs
1000 .... 93
Int Mcr Marino Bs
3000 .... 05
14000 .... 94
30000 .... 93
Inter Mot Co ct 4 A
1000
Beh Steel Corp lit
3000 .... 06
1000 .... 06
Braden Copper M 6s
4000 .... 00
Brk Rap Trans Ss
1000 .... 83
28000 .... Stfi
Brk II Trans ct 7
6000 .... 4i
5000 .... 48
Bk Rap T ct Sta 7
1000 .... S9
3000 .... 40
1000 .... 39
Brlc Rapid Trans 7s
5000 .... 45
5000 .... 44-
10000 .... 44
1000 44
15000 .... 44
Cent Leather Co Ss
1000 .... 06
Central Paolflo 1st
3000 .... 77
2000 .... 76
Ch!S ft Ohio 4H
4000 .... 7494
Ches&Ohlocv4tfi
2000
ie
18000
8000
2000
1OO0O
10000
4000
10000
2000
5000
16
10
1
16
10
16
1
16
1
10000
16
Intern Met Co 4 ',4s
1000
16
16000
12000
10000
5000
10000
16000
9000
. 2000
5000
6000
10000
4000
20000
8000
7000
18000
10000
10000
6000
2000
2000
3000
3000
18
16
16
16
16
ia
1V4
17
16
16
16
16
16
17
16
16
16
16
15
16
16
15
16
.1000
78
1000
5000
2000
6000
6000
1000
300U
76
70
76
76
74
76
76
1000
76
"hes ft Ohio ov Ss
10000
2000
3000
1000
1000
3000
1000
79
79
7914
70
70"i
80
10000
10000
16
16
70
79
Int K Tran Co fd
0000
23000
66
Chi 8 & Qulncy gn
25000 .... 79
2000
6000
16000
1000
15000
1000
6000
10000
5000
86
66
66
65
56
07
56
56
II
Chi D ft Q II 3tfs
1000 .... 75
'hi B ft Q II 4
3000 .... 84
'hi B ft Qulncy
10000 .... 03
0000 ..,, 03
NEW YORK BOND TRANSACTIONS
2000
3000
10000
3000
2000
12000
2000
1000
6000
18000
13000
35000
2000
2000
20000
20000
5000
7000
8000
3000
3000
12000
13000
5000
2000
25000
17000
3000
44000
2000
1000
50000
6000
2000
inon
1000
8000
8000
3000
10000
10000
10000
20000
1000
6000
16000
27000
28000
5000
400(1
2000
10000
1(100(1
0000
3000
moo
1000
11000
9000
1000
1000
mono
13O0O
1000
57
67
57
87
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66
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68
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Pcnna 11 XI en 4',s
8000 .... 00
11000 .... 91
Perna R R sm f4s!
25000 .... 82 1
1000 . .. 82 '
18000 . . . 82 I
2000 .... 83
3000 .... 82
I'ennsyrwuila Hit Cs
11000
01
2000
3000
3000
01
01 Vi
91
Pcm Marquette
Ck
300O .... 87
1000O .... 87
Ppli Ser C o( N J Cs
6000
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. .. 80
. . . 80
... 80
80
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80
1000 ....
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10000 ....
6000
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3000
2000
2000 ....
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63
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Snr & A P Ry 4s
2000 .... on
3000 .... 36
Srabonrd Air V aj
10000
2000
.1000
3000
1110(1(1
33
33
31 )'l
31
1000
31
nooo . . .
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2000
Pclota V
66000
.. 70
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68
Southern Puclflo fd
tooo
loon
3000
2O0O
25000
2000
looon
3000
sono
10000
78
78
78
78
78
78
78
78
78
7B
Bouthern Paclhu Is
3000 71
5000 70
I.
South P.icllle cv 4a
nooo
50' innoo .... 8ti
Iowa Central Kit Is I 3000 .... 81
10000 37 ! 13000 .... 81
Kansas City So 5s South Pacific cv lis
1000 .... 73 200(1 . . . .102
K City Ter Illy 4s 3onn ... 103
3000..... "3 ' 30000 ....102
Kent Cent K It 4s 1 South iuilas 4s
soon 73 mono in
KlnKS C Klo Kit 4s 2nno .... 00
1000 .... 19 1 Southern I'.iwys 63
Lnck Steel Co of 58
1000 0,Ti
Lacka Steel C of 50
8000(1 .... 95
30000 .... 95
800O .... 96
L S & M S 4s of 23
1000(1 .... 80
23000 .... 83
10000 .... 83
2000 ... HB
25000 . . . 83
25000 .... 85
LSAMStsof 31
10000 .... 81
Liggett & Myers 5s
inoo .... 85
5000 .... 88
Liggett & Myers 7s
1000 ....110
noon . .
2000 .
4000 .
10000 ..
5000 . .
si 1. I M
8BI,
8'i
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. 87
. 87
I'.ln
A Gulf Dlv 4i
6000 .... 70
Ft 1 t M So lt U
10000 .... 74
10000 71
St I. & San Kraji In
loooo .... 43
A; ssin Fran aj
snnn
nooo
nooo
01
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01
innn
61
St L & Sail Fran A
6000
10000
6000
10000
10000
2000
1000
1000
68
58
58
68
68
68
67
68
Louis & N'ashv'e 4s
2000 . . . 8
7000 .... 83
l & n n n & s Ry
Mono 4 s
3000 .... 63
Manhattan Rwy 4s
4000 .... 57 Vi
M Stocl 4 O Co Bs
1000 .... 83
1000 .... 83
17000 .... 83
16000 .... 83
4000 .... 81
Minn & St Louis 4s
6000 .... 40
Mo Kan & Tex 2nd
10000 .... 31
M K & T Ry ct 414
3000 .... 24
Mo Pacific Km 4s
3000 .... 58
1000 .... 68
13000' .... 58
2000 .... 58
Mont Power Co Bs
1000 .... 84
Nassau Elec Rly 4s
2000 .... 25
2000 .... 25
N YC& II RIl 3
loon .... 68
6000 .... 68
N I'fcMKKKlS
2000 .... 81
1000 .... 82
6000 .... 81
6000 .... 82
NYCtunn 4'.t
lOOflO .... 78
N Y C & H R R 6s
1000
88
St L & San Fran B
1000 .... 60
5000 .... 68
0000 .... 69
2000 .... 69
St L & Sow RR 1st
19000 .... 61
St It & So West en
13000 .... 50
10000 .... 80
1000 .... 60
600O .... 49
Tenn Copper Co 6b
2000 .... 04
Third A6 Rly ad J
7000 .... 27
1000 .... 27
TSt L & West R 4s
20000 42
U K of G B & I 31
80000
80000
. 8U0O
7000
10000
6000
2000
2000
6000
5000
1000
25000
05
95
93
95
05
95
05
93
95
95
05
05
0000
95
8000
2000
1000
2000
2000
10000
1000
1000
1000
4000
8000
10000
6000
6000
00
Untd K of G B & I
90
91
01
91
91
91
91
91
91
90
01
91
90
rots of '22
1000
toon
95
91
95
8000
3000
6000
95
95
Untd K of G B & I
rets of '29
12000
94
94
94
20000
6000
46000
94
U K of G B & I 37
1000
01
6000
00
86
N Y C & St L D 4s
1000 .... 89 x
N Y Dock Co 4 s
1000 .... 66
S Gas Heat ft
rjlpc L & P Co 4s
5000 .... 62
K Y N H & II t
1000 .... 67
4000 .... 67
12000 67
87
86
80
86
87
87
86
80
80
87
86
86
81
87
87
87
56000
26000
6000
10000
15000
2000
10000
10000
10000
4000
1000
3000
4000
26000
17000
N Y Ont & West 4s
106B0 . . , . 89
10000 .... 80
10000 .... 50
N Y Railways 4s
6000 .... 27
New York Rwys 5s
soooo .... 6W
25000 .... 4
16000 .... 4
.15000 .... 8
N Y Telephones 4
2000 .... 80
N Y Telephones Gs
1000 .... 03
N Y W C & B 4s
1000 .... 3J
Norf & Western Is
20000 .... 70
3000 .... 70
Nor & West ov 6 s
2000 ....104
2000 ....103
Northern Paciflo 3s
000 .... 56
1000 .... 66
Northern Paciflo 4s
1000
87
Union Paciflo RR fd
0000 .... 70
6000 . . . 79
inon .. . 79
Union Paciflo RR 4s
2000 . . .83
6000 85
2000 ... 85
Union Pao R R 0s
4000 ....Idj
U S Real & Jinp '6s
1000 . . 75
1000 .... 76
6000 ... 77
3000 . , . 77
U 8 Rubber Co 5s
15000
88
1000
2000
1200O
10000
2000
4000
10000
1000
6000
2000
88
88
88
88
88
87
80
80
88
80
6000
79
5000
7000
9000
10000
2000
1000
70
70
79
70
80
80
20000
80
10000
80
U,0 Steel Corp 5s
O R"R & M Cols
10000
3700O
6000
2000
tooo
1000
3000
2000
6000
sooo
10000
12000
sooo
95
95
93
95
86
1000
inno
78
70
Ore eon Short L 4s
4000 .... 84
Ore Wash RR Co &
Navl Co 4s
10000 .... 72
Pao Gas ft E Co 6s
6000 .... 80
Paciflo Tol & Tel 5s
6000 ... 86
98
96
06
97
90
110
90
, 07
loooo 08
26000 97
8000 . . . 0J
1000 . . 90
Vlr Cnr & fhem 6s
4000 .... 00
VliBlnla Rwys ii
3000 ,. . Ill If,
6000 . . . 84
Vlr & Sowcstern rn
West Maryland Cs
iiiuii . ..
lono . . 90
(Vest Hhoro It It 4h
6000 71
5000 74
Wllks-B & i:ast lrt
"
Wilson Company ov
1000 03
1000 .... 9(1
2000 05
nooo .... i
lono 98
3000 .... 3d
Wibi rn Klectrlc Ss
10000 .... un
West Maryland 4s
3000
18
18
10
0
.iuVi
Mieou loiniMni 1st
1000 .... 07
Wis Central Illy Is
3000
10000
1IU00
uUOII
0000
06
Illccli Low 1 :15 P.M.
Lib .1vi
do 1st -Is. . , ,
do L'd Is
(Ill 1st i't.M ,
do lid 1'k
do lid II,.,
100.00 IMI.7II 100.00
Kt.'M 0,1.00 D.1.2II
IH.70 111. .1(1 Ill.tiO
1 1.1. "ill 111.12 !.". 12
02.00 III. s ill .112
II. S4 IM.70 04. Ml
02.00 01. SS 111.02
00. OS; IIS. OS OS. IIS
, do -Kh 4',s
Vie N .'Pis'. .
do 'l'is
00.10 OS. OS 00. 00.
1 LIVESTOCK QUOTATIONS
1 .n!,'!,l,"":n. ,Vr '" ''ATTLi: Hccelpts
4OO0 tie.iii 1 inn. Ilcef siovrs. imillum mid
havy welBht. ihulio snil prime ln 7.a 20.
I .,i,,.Hl,J?,...".r.!1 ."'P'1- 11" 7S4M 7.1. common.
I trl ,'.v I0.7... llitht. Rood hihI chiilci. 13..M1B
)". ronunoli slid medium, 18013 50,
t.VJ'Pr w"k'' holler, n.4titf 1 1.73, raw.
"(.- 13 n I'nuiiors anl unlets, J." i'f
.'-O'VJ1 enhe. 113.75917: foulor steer
' .;.J.r-,V 'looker steers. Stl(Mn 23.
Mllhhl'- lie, elnts. .SlSlll head Mend
l7'."1-h.,i.!l:,.S0wls nl r,'lls ml common
1 :I1..lSK'''.t',: ewes, medium mid coed
I :s,2,.glO.,6. eillls .md common. JI.2.1&
eeiVtsU2To!!,'hfad.'' Higher3' iieau'?.. jis'.M Pennsylvania trust companies. Iindre
015,60. jorkeri, nnd olirs. 313 754115.00 sources of SI. 1IS.S07.SS2 at the close
H1IEI.I' AND I.A.MJ1S Heeelots. rflll) hind
Stead
r?.J'....t"l'. cheeii. 112. top Imnbs I0
caI.vks Hixcipts. iiH hend. stendj.
rep. 2i.o
, list tlcirralo, N. 1
I!cglpt3 225 head
o-lDtsr. son hjd
.. Ieo 31 CATTLl;-
Hto.ul Culve re
Market 50; lower, Jtl
W22 50
HOG.-, Hi'ielpl S00 linn, I Market 1!V
to II hlitlier, heas- and mixed tl3.73ii1A
lorkers. Hunt vorkers and p!B, SIO: roughs
S134I 1.1 2.1. nlHKs. Jlll'nl2.
SHCKI AM LAM US ttecelpti. 2n0l
head. Hteady to ,111,1 hleher Limbs. Ill
ST 10 50. ycarllnss lintilll wethers, II211
1250, owvb lll'tfll.'ni, mixed sheep. Ml
B 11 50
Kiiiisin CIO. iVe J 1IOU8 Rce-lpls
1200 head Stend) Hulk. tll'uH III
lleavloii. Sit. infill 50, medium. Ill I.V
1150, Unlit. glnM14 2.1. light llsht.
1 1.1 2.1 Win. 0ft. pnekinc tone. fl.1(i 13 71.
PIkb. 112 76 tf 13.3.1
r.VTTI.K lleeelpts 57(10 hend , alt
llevy beef steers, cholen and prime, su ir,
fbls.10, medium and sood J 1 3. 2.1 C'i 1 0 111
common, J Hi. no W 13.2,1. light, Kood nn,l
eholce, $12.75017 75, oommou and in"dlum
SS 1,1($12 75. calmer nnd eiltteri, 57.25W
II 0.1: enl oslves $1.1(1,150; feeder cirors.
I? 73ia13. ftocl-er atoers, ICff ln..1ll
SHEHI'-rt'eelpti,, niMIO hend llleher
Um. 11(1 "0U 17.0,1: cull nnd common
Jll 7.14rin 10; Nearltnf." w-clherM S12S5W
1.110, ee l7.A5Ain.5n. eull oid e"in
inon. ttm 50, hreedlnic ees JSiiTlS, feeder
liimbr, Jll 7.1015.
ljit.1 M. Txiuls. nc. 31 IIOfJ lteeelrl'.
I1150O head. Illshe-. Hulk. $H404J14 75
I llesvy welellt. 14 10IF14 70 medium. 14 10
14 SO. light. 14'40M 14 SO. llfht llghtt
j ia 757 14.75, heay packlnff Ijows, mnooth
?13113 30, pscklnp sows, rouKli, 112.30
1 13 rlT I1214 Ml.
1 rVTTI.ri rteeelpla. 2500 lied Strornr
t fleef steers medium nnd heavj eholoe nnd
-" noe medium nnd good, $ll.50'i7
10 50, common. $8 2,111. ilEht, good ntO
Lholee, Sl,i,73ti 10 7,1. common find medfun, '
7.7513 BO. butcher cattle, heifers, S7
iK, cows $7'5t2r,0. cannor-, nnd cutters
$.1.50610 75; Teal calve, handy weight. 114
I s is- feeder steers. 10 7.1 12. stneker sleers,
jn.25fi in.75.
"Foreign Trade Through Foreign Investments."
An Interesting Comparison
between
July, 1914, ami December, 1919
i.
Great Britain
France
Belgium
Italy
2.
Great Britain
France
Belgium
Italy
3. Cost of Foreign Bonds to
Investors in tfic United Stales
July, 1914 December 26, 1919
100 Pound British Bond 81 $396 $323
1,000 Franc French Bond 71 140 70
1,000 Franc Belgian Bond 101 198 107 ,
1,000 Lire Italian Bond 90 176 72
These three tables show that:
Great Britain, France, Belgium and Italy cannot buy from the United States freely.
Great Britain. France, Belgium and Italy have never before had such incentive to
export goods to the United States.
It is therefore of vital interest to the commerce and industry of the United Stales
that the exchanges should be brought back to a level where these countries can again
purchase freely from us.
The purchase of British,, French, Belgium arid Italian securities should be
extremely advantageous, because the economic conditions in these coun
tries arc already showing decided improvement; this fact and interna
tional financial and commercial co-operation on a large' scale will make
for consistent appreciation and final recovery of foreign exchange.
New York
Minneapolis
Financial Briefs
TI10 nvonico tirirn of tpntv npllvp
Industrial slocks ndvnnrpil 0.28 irr cent
1 jrsieruny to iii.viii. 1 0 twenty mil
roods declined O.L'S per cent to 73.85.
Charles D. Harney & Co. nrc offer-
ine thn lltlsnlil hnlnupn nf thn mmnum
stock of the Conley Tin Koll Corpora-
iion ai Mil n niinrr. w ion nut no if
Issued. Totnl rnpltallrntlon of the
company will consist of 1100.(100 shores
n( no pnr nlue, of which 102,100
i-liaros will he presently issued. As n
result of this new finnncinp; S8.t0.000
llHHIHnnnl mnlipv will hn nvnllnKln In
Hie company, which has no preferred
stock or bonds.
J he federal Herre Hank of New
York late yesterday announced another
increase in two of its discount rates of
one-qunrter of one per cent. The bank's
' action hss created a Renernl rate of 4"',
nor cent for discount rates except the
rediscount rnte on ncrlcultural pnper,
which remains at ."1 per cent,
The Nou York Mibtroasurj lost
$2.1,0117.00(1 to the banks cstcrihi. .
niiikiiiK 11 cash net los si Prldnj of
S21, 202,000.
Directors of the Pedernl Reserve
Hank of Philadelphia nt their iiicclini:
today re-elected officers for the coniinR
onr. The new rates on discounts sc
rtired bv certificates of indebtedness be
come effective .Tntmnry 2.
TRUST COMPANIES
Resources of Pennsylvania Institu
tions I, of Those of Entire Country
f l.. :. I "II ,.,.,, r.lim. tn
1 '" '"
Trust
I State-
Cnnipatiies of the I mted
for 11)111, just issued lij the
I'nited States Morlcuer and Trust Co..
of New York. As the nggresute re
sources nf the I'nited States arc showu
to lie Sll.inO. I1IJ.IIS7, the total for
this .state is over 111 per cent, or about
oiic-oicuth nf those of the entire
country, llesldes 1'eunsjlMinln, the live
states slimline cains of SKIO.OOO.OOO or
over ure New York. California, Illinois,
Massachusetts nd Ohio.
The trust company resources of the
I'nited Stnlei increased nearly 10 per
cent and iiBKrecntc 511,100,1 I0.0S7,
which is considerably in excess of the
total bunking strength of the country
less than twenty Jenrs ago.
Reserve Banks' Discount Rates
Official discount rates nt the twelve
Vcdernl Kesorxe banks were as fol
lows: (The first column gives rates for nil
periods up to nnd including a fifteen -day
maturity, tho second for n period
of sixteen to ninety days. The third
nnd fourth columns give the rates for
discounts of collateral loans seemed by
government bonds or notes.
s;om i paper uov paper.
15 111 to (10 15 10 toOO
day iIimj. dnvs. days.
Hoslon l 4, 4,
New Vork . 4S I'l 4' 4s.
Philadelphia .. 4 4, Ah 4i
Itlchmond . . . 4i 11 i'l 4,
:irelan,l ... 4. l 4"j 4J
Atlanta 4'. t 4 4"
Chicago 4 l 4 4I
Nt Louis . .. 4", . It 41 4'i
Minneapolis .. 4 4 5 1 1i
Kansas Cltv . . 5 ," 5 n
llillas 3, 5 5 5
San Pranctscn . m . 4W I';
Cost of each $1,000 of Goods Purchased by
Foreign Countries in the United States
July, 1914
205 Vz Pounds
5,182 Francs
5,182 Francs
5,182 Lire
December 26, 1919
263 yz Pounds
10,500 Francs
10,300 Francs
13,000 Lire
Receipts for each $1,000 of Goods
Foreign Countries in the United
July, 1914
205V2 Pounds
5,182 Francs
5,182 Francs
5,182 Lire
December 26, 1919
263 V2 Pounds
10,500 Francs
10,300 Francs
13,000 Lire
As market prices change so quickly, we suggest that those inter
ested wire or telephone us at our expense for current quotation.
. We shall be glad to supply the latest statistical
data regarding bonds of all of the allied nations
A. B. Leach & Go. Inc.
Investment Securities
115 So. Fourth St., Philadelphia
Chicago
Baltimoro
Boston
Pittsburgh
BUSINESS NOTES
The sentiment lias Brown rallier sen
eral in the wholesale clothing trade that
the early sprlnjc season will be passed
without much difficulty on Hid score of
LIrIi prices.
AVltllo prlrrs of man- of the cotton
dress fabrics offered In the white soles
that nre now bcginnlm; all over the
country bear little resemblance lo those
which were asked for similar goods
even u cnr oro, the reverse is true of
the more staple cottons on sale at the
larger stores.
Despite, the statements li maniifac. J
turiiig clothiers flint retail stocks of
overcoats have been well cleaned out (
and renewed buying should quickly re- f
duce the present surplus of these gar- j
ments In wholesale hands, retailers,
maintain that they nre not ready to ,
make additional purchases. 1
Some of (he best posted bujers In 1
the woolen market profess themselves 1
Ignornnt of where the staple goods are!
going or even if they are being made.
Mints nre In be heard, of course, that
the domestic mills are diverting sup-
plies of thee materials into export
channels, but no figures are uwiilnblc
tu determine just how true iIiom. rumors
are.
TI10 next scries nf aiiellims nf government-owned
wool will take place In
Iloston. .Inuunry 7, S. f) and 10. Soon
after these sales nre completed the Brit-ish-owned
wool, which is now arriv
ing, will be sold. It Is expected that
the liritish void will be disposrd of
through the f-ame channels ami organi
zation used in felling the American
government wool.
While Iho popular demand for lux
uries is hold chiefly responsible for the
nor-incrensing cost of goods, one nd
lantage pointed out is that manufac
turers who ordinarily would have con
tented thcmolvc with the quantity
production of medium o1as merchandise
have learned how to mnke the finest
articles. In silks, it is explained, there
has been a notable advance in the
qualities to be obtained in this country.
The same development lias taken place
to n somewhat smaller degree in wool
ens and dress goods.
Itv blanket policies involving scleral
millions of insurance with fixed amounts
provided for each individual, the Qua
ker Citv Flour Mills Co. nnd Samuel
Hell &Snus Co., of Philadelphia : the
Prudential Worsted Co., of rrankfnril,
and thn Abram Cox Stove Co.. of Phil,
adelphia and Latisdnle, Pa., have pro
vided every workman in their plants
with life insurance The amounts vary
according to length of sorico, com
mencing at S."0f) eacli and increasing
to a maximum nf S2000 or 9.1000 per
person.
During the vteeh ended December 20
seventeen locomotives were shipped from
works to the railroads : nine from the
American Locomotive Works nnd eight
from the Rabin in Locomotive Works.
Huers of vtlro nails for Immediate
delivery ire 11115 ing lie.tvy premiums
due to scarcity brought nbout by shut
down of many of the nail mills during
the steel stiike. All kinds of hardware,
particularly builders' hardware, Is
scarce and commanding premiums of
from lfi to 2.") per cent and even higher
in some instances.
Difference siml
Allied Countries
58 Pounds
5,318 Francs
5,118 Francs
7,818 Lire
Sold by
States
Difference in Favor
of Allied Countriei
58 Pounds
5,318 Francs
5,118 Francs
7,818 Lire
Difference in Favor
of lie U, S. Investor
$73
70
91
1(M
Buffalo
Cleveland
OaiipurciTV-B
Vj? JiU!isjJf'
Ask for January
Investment Offerings
A wide range of securities.
A xvide rantfc of maturities.
A wide rango of yields.
A carefully selected and broad
ly diversified offering of se
curities giving much valuable
information as to tho various
issues listed.
Circular (4U be ent upon rcqvttt
tor ris-tn
TheNationalGtjr
Company
Corre-tpondml ctflcea in over SO CUiim
Philadelphia 1421 Cheitnut Street
Atlantic City Ondfonte Block
IZ2S Boardwalk
si
Substantial Gfbv-.,...
American Industries
Business conditions re
cently have broadened
the markets, increased
earnings and strength
ened generally the posi
tions of our ably man
a g c d manufacturing
companies in almost
every line of trade.
Selected bonds, notes
and stocks of these com
panies reflect their in
dustrial growth and are
considered among the
best investments be
cause of their safety
and yield.
Write for recommendations
Hemphill, Noyes CS, Co.
Members New York Btock Exchange
Franklin Bk. Bldg., Philadelphia
Boston
SeraitOB
Amer. Ice Co. 6s, 1 942
Chester Co. Gas 5s, 1925
Cons. Cities Trac, Lt. & Pwr. 5s,
1962
Cons. Trac. of N. J. 5s, 1933
Duquesne Lt. Pfd.
Denner Gas & Elec. 5s, 1951
Mahoning & Shenango Ry. & Lt.
Pfd.
Public Serv. Corp. Perpetual Ctfs.
Va. Ry. & Pwr. 5s. 1934
Ueu.t610 Land Title Bldg. BataiH
4-
Mr. Q. A. Shaw McKean
and
Mr. Arthur T. Lyman
become members of our firm on Jan.
uary 1, 1920. The firm will be made
up as follows:
Sjwncer II. 1IIII 1
Daniel W Gurnett I ....
Oeorce Putnam, IGunoral Partners
1 Jw nillLYV .tlVlkllt I
Arthur T. Lyman
Henry C Wiley
William U Putnam
Special Partners
RICHARDSON, HILL & CO.
rtoston, December 31, 101U.
BARGAIN DAYS IN BONDS
Moody, the Financial Authority,
Say a z
"Purchase ot Investment
bonds of nil clas-ieB may bo
made with confidence.
Wo must t'o back to the
'70s to llnd tho relative bar
trains that aro obtained In
the Railroad bond market
today."
Wo will bo pleased to submit
offerings
EDWARD V. KANE & CO.
MORRIS BUILDING
Slrrra San TYunrlnco V. lit Bs. 1016
standard Has & Eire 0. 1020
Syracuse Lt. t, 1". B. 1951
Inn .Mnry Caal Ss. 10S9
Hllmlnston Oils 0. 1019
Indianapolis Irar & Trr, Hs, ltff5
Kmplre (las & l"tifl 6s, 1031
Georgia Ky. & 1'. Ss, 1034
Cons. Cities Lt.. P. & Trac. (is, 1D63
Ih1rii ii New Eniland cirn. Ss, 105 1
Reading On. Is, 18?
Lelileh Taller of N. Y. IHs. 1010
HENRY D. BOENMNG & CO.
STOCK EXCHANGE UUILDINO
Dlrrrt 1'rlvate Telrpliono to New York
Meinbrrs I'lilla. btock Exchange
I nltal Klnsiloni ft. II. & Ireland SHs. 102B
Mnhonlnc A Mirnanco Ut. & l.lcht Ss, 1920
t lioctau, Oklahoma A Gulf Conn. Ah, 1D3
rennsyivnnla 1atrr A Tower 1st Ss, 1040
(lenrcltt Hw. A Power Co, rfr. Ss, 10S1
Midland Aallcr Ilullroad Co. 1st As, 101.1
Unltnl Ons & Electric Corporation fl. 104S
Philadelphia Company Consolidated As, 0.tl
Norfolk A Portsmouth Traction Ss. 1BSB
Ft. Wane & Northern Indiana Tr. 5s. 1031
Uhich Coal & Navlratlon Co. Hts. 1021-Sl
t nlon Kwj.. Has. & Electric Conv. Ss, 1030
Johnstown Traction Co. 1st Hfr. Ss, 101,1
Philadelphia Company 6s, 102:
Waterloo, Cedar Palls 4. Nor. Ily. Ss, 1040
United (" Improvement Company 6s. 1030
Portland Ily., Lltlit i. Power Com. .Stock
Samuel K. Phillips & Co.
S07 Chestnut St.
GEO. A.HUHN&S0NS
STOCKS AND BONDS
Members of the Philadelphia, New
Tork and Chicago Stock Exchanges
New Tork Cotton Uxchame
Commission Orders Executed In
All tho Principal Markets
HKLI.15VHK COURT ULDC1.
1418 Walnut Ht,
NEW TOflK OFWCE
111 Urooclwar. New York
PARTNERSHIPS
rsSpauniTZ BROTHERS. BANKERS AND
U33 Broken. 1421 Chestnut street, Phila
delphia, announce that William li"ultau,'
Kurtz has this day retired from tuttf Ann.
The business will bo continued under the
aboe flrrn name by the remaining partners.
IIKNI1T K KURTZ. J-1
Wll-KHEP II. CL'NNPft.tAll,
II EN HI' K. KURTZ, Vf;.
W. WESLKT KUKTZ,
December si, 1BU,
1
-.
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