? f ' '" ft l ' I'' ' Airt 9 , ri i rH IV a I ' ' l W .. EVENING PUBLIC LEDGER-PHILADELPHIA, WEDNESDAY, JANUARY 7, 1920 iVi' i -i ' '.. ' . r Ft. v V , r ,? m mw '" y If ft fv ,i ) $-71 It '. H f$i mi l toi 'fit ;20 Jfi 'S y. ii.i Tlfl '.'.' W ' v SL lmt-o4-i-4-?l Tl.i4-Vi rf fe'SK- . -. . . imencan industries V.HnsitinsR conditions re- j4&ccntly have broadened ' th marlrtc inprensetl earnings and strength ened generally the posi tions of our ably man a g c d manufacturing companies i n 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 r r Hemphill, Noyes & Co. Members New York Stock Exchange franklin Bk. Bldg., Philadelphia NEWS OF FINANCIAL WORLDNEW YORK AND PHILADELPHIA STOCK QUOTATIONS MARKET INTEREST LAGGED AS MONEY SPECTRE PARADED Prices JFavcrcd Despite Actual Ease of Call Loans Dealings Dwindle to Minor Proportions NW York lioston Scranton The Home oj CHAS. H. JONES & CO. No. 1 Its Service Our business is to serve those contemplating in vestment in high-grade stocks and bonds. We make it our business to co-operate faithfully and intelligently with all who seek our counsel or utilize our facilities. That we may know one another better, we will outline in some brief sketches, of which this is the "irst, our methods and the possibilities they may contain for you. To be continued.) Current Investment offer lugs "Li" sent upon Uequcs Municipal Railroad Corporation Bonds so Broad Street New York runt UCTMIIW CUUMDUII 'ailliniBT- f"', ,y?rl1' ,1nn "While showing no decided tendency, today's stock mnr ket hud an undertone of considerable strength. The more striking develop ment was supplied in the pronounced contraction in the volume of transac tions and the conspicuous narrowing of the trading. This expressed the inde cision of the professional element, who still enjoy uuopposcd domination of the market, arising from yesterday's warning ofu the Federal Keserve board. Ihe specter of n money stringency, in other words, was still going the round", but it is an open question whether the market interests were not more puz zled than frightened. A night's sleep over Governor Hurd iue's supposedly nlurmist sntwli nnmir. cntly eliminated much of the sting out of his warning concerning "unessential oan." A calm consideration of the speech brought the conclusion he had said nothing more than what he said in November, or whut he has said all along oncerning the curbing of unbridled speculation. Just at the moment, with .noney so deticedly tight, even the mis- estion of n new move on the checker hoard by the Federal Reserve board Uci Wall street a case of creeps down 'he spinal column. Tlioc who had measured and weighed the pros ami cons of the money mar ket situation reached the sensible con clusion that conditions, instead of be ing worse, were in reality working out altogether satisfactorily. It was point ed out by some'cloMC observes that, while the Federal Reserve board may further penalize northern and eastern capitalists for their patriotism, by forcing the payment of three-quarters ot 1 per cent discount over the interest eturn of the Liberty bonds, the aver age law of supply aud demand will eventually regulate the credit situa tion. Yesterday's incident, however, un questionably injected a fresh strain of uncertainty into the monetary situa tion, which wus indicated in the halt widespread disposition to await the course of developments in this con nection. All Indications, however, pointed to n continuance of easy rates for demand loans, which was confirmed by the first quotations for call money. Large amounts were offered in the sec ond hour nt 7 per cent for renewals and new loans. This wns the lowest initial rate since the November break. Gains nnd losses were almost evenly balanced 'n the opening market. Active leaders included the same shnres that featured yesterday's rally, mainly the steels, coppers, textiles nnd sugar stocks. The oil group were the only Important issues to display pronounced pressure, Mexican Petroleum falling four point i, Pan-American J nnd Texas Co. 2. The heaviness of this division was due to the reports of heavy damage to the Mexican oil properties from the earthquake and because of the an announcement of a new ruling by 1 resi dent Camnza on import duties. The earthquake damage reports were later officially denied, while the report of an increase of 10 per cent m cxppit dutv of Mexican oil lacked confirmation bv the oil eompunics having vast prop erties. Assuming the correctness of the report, tl.c matter is not considered important, as it would mean an in crease in cost of less than two cents a barrel, apnroximately 1 ,S" cents. The selling pressure, which appar ently emanated principally from Un professional traders eased in the second hour, aud the active leaders, particu larly the motors, oils aud equipments, rallied briskly, after which dealings dwindled to minor proportions. Business was almost nt a standstill during the early iifternoou. many of the leading stocks fluctuating within the smallest fractional limits. Trice tendencies were firmer, however, so far as they manifested any change, espe cially among representative industrials and local tractions. Trices averaged highest levels of the session in tic nnal hour, siecis aim iug character of thp market during the equipments leading with shippings, to most part of the forenoon, reflecting abaecos ami allied specialties. s TOCK TRADING EXTRENIELY LIGHT New England Fuel Oil Co. o! Massachusetts CAPITALIZATION: J250.OO0. so.000 Shares. 5.1.00 par. rnorKRTTES: 2013 acrcK proved and nrofiHlifr o I 1 lands flW Panuco niver., moDcrnr-ty Owns Jtwjr prculue Insr wells. Shlnrlne facilities of 13U.U00 harrola per day. EAKNrNOS: Operated by Mag nolia (B. O.) Petrole um Co on a 30 royalty lusts. 3IAUKET: Traded In on Now York Curb. 81 ilfINn M ?. its SPECIALISTS 43 Exchange Place, New York Telephones, 8300-1C Hanorer Lack of Confidence in , Any Real Relief in Money Conditions PRICES IRREGULAR k The Conversion Feature Armour & Company 6t. con vertible Into preferred stock, were crislnally offered at an average price of about 9G's. They aro now selling around 101). The. details of a new short-term note Issue, convertible Into 18 Preferred Stock will be forwarded promptly when ready If you will snd now fcr circular T-A. GEORGE H. BURR & CO. Investment Securities 421 Chestnut St., Philadelphia Chlraro Harford l'lttsliurtli New lork teiittlc St. Louis ClevrlBud ?Hn luncifro New York, Jan. 7. The New York Evening Sun's closing financial review today says : The behavior of the stock market to day again gave a broad hint that ini- I tiative is not to be anticipated for some time to come. Trading was light in , volume, nnd nrive movements irregular with the steels, equipments and a few ! scattered issues making tlie only (lis , play of anything like consistent Strength. . Money rates continued easy, as caused bv the standard of the last few months of what constitutes rase, that is to say, -call loans renewed nt 7 per cent, n nw low renewal level on this movement, and receded to Ci per cent earlier in the session than usuhI. i Ofrprintrs of time funds were freer. a circumstances which, of course, has 11 dlrevt bearinc on lower call rates. But it is perfectly evident that this tendency in both demand and time loans is n temnorarv condition of no great import and one which would doubtless disappear quickly enough should an earnest quest for money lor mock mar ! Ijpt niirnosos develon. I That deduction, at least, was to be i drawn from the remarks of Governor . Hnrdlmr. of the Federal Kesene Hoard I yesterday in Washington. The banking conference nt which he spoke adjourned without voicing opinions on the various nhnses of the financial situation set forth, but it will meet again in Chicago ,on the 10th. i The course of the market itself was a reflection ot want of confidence in an;, real relief in money conditions and the most that can be expected, perhaps, is an occasioual bulge on technical i grounds. Bankers realize the necessity I of directing funds into commercial nnd industrial channels. i Accomplishment of a compromise in rhe peace treaty is looked forward to hopefull and such a development in the near future would undoubtedly have a good effect sentimentally, but sight is not lost of the fact that ratification will stimulate the employment of money for oth-jr than speculative purposes, whether in securities or commodities. It did not come as any great sur prise to the street in the light of rpcent events that the New York Federal Iteserve Hank should ugain advance its open market rates on bankers' accept ances of is of 1 per cent to 4 per rent, maturing in thirty and sixtj das s. Philadelphia Stocks llleh lxiw 10 Am Tt pf fill ."p! 144 El Stor.lSS lKo N A !71. 171'. Net chue. Close rft KM',;. Vj 07 V4 IWj.. 21 . . 137; r.iVj-t- J7ai 20 .. 2.-.aS H 2S -h Vi IS-". .. ji A r.7,s 7s 00 S2'i 07!3 155 III 1 J . , til ,i 01 VI 125 Key Tel. 12'j 12V. 525 I.k S Cor 21 Vi 20 Vs 210 I,oh Val. 44 -VW, 15 tMidvale. CI1'. 51',.. 71(5 Pa U II. 42 42 100 Pa Ware 27 27 100 Ph & W pref ... 20 20 120 do cm pfJUi HI U7.S Phil El..25 25 273 P It T tc 2S 27'. 5 Phil Trac ft 5 G3' 715 Ton Hel. 3,' I! (515 Ton Miu. 2 2U. 145 fn Trac 37 S094 1000 u o i.. msu n5v 300 tU S Stl.107 lOOU 107 1 30YorkUpf31Vi 31 '-i 31 V, . . tKet chanse m.ide bv comparison with last sal nr Npu ynru stock KxclMnee, Total sales, .3M.4 shares, compared with 771!t shares jesterdiy. Thus far this week J4 .143 thares Same period last wetk, 101. 301. bale In OMs Net 1 100ft High Ira Clos-e disc. 3 Am Gas & Elec 5s... SUM; 1 City -U '43 07Ts S'i Elec & Peo Tr Is .... (55 U, 1 11 tut ill lias 5s 101 101 101 ,. 1 Lehigh Nav cons 4 V;s. S9',i SO', SUV, 4- Vi 5 Leh Val gen 4s 71 71 71 H 4 dogen4Vis 82 S2 82 4- L. 781 2 Lib Bonds 4th 411R. 02.7S 02.78 02.7S .06 0 Vic 434s.. 00.OS 00.0S 00.0S. . 2 Nat Prop 4-(ls 30 (J Pa Co cons 41is .... 01 Vi 2 Phila Co cons 0s . . SO 11 3-5 Phila Elec 1st 5s . . . 03 5 I'll &V4s 85 20 Head gen 4s SI 11 l'n lis lav 5s 74V-! 73". 7H-.2 10 1-10 WelsCo 5s 9S. OS 0S,4- Humid, $181,700, compared with 137,350 yesterday. Thus far this wek, $303,500. .Same period last week, $l.t)42,430. Reserve Banks' Discount Rates Official discount rates at the twelve Federal Reserve banks were as follows : (The first column gives rates for all periods up to and including a fifteen day maturity, the second for a period of sixteen to ninety days. The third and fourth columns give the rates for dis counts of collateral loans secured by government bonds or notes.) Go t oauer .". 10 to DO S'-H's-f-07;s 05 . . 30 01 'j 50 021.'. 85 " 80-!i 30 .. 01Vi l SO 2 02':. 85 " SI il'. u. NEW YORK STOCK EXCttiiNGE TRANSACTIONS BalfS 100 0 100 0000 100 soo 100 100 1300 400 1S00 7000 300 3100 too 6.1 10 -'00 1000 300 0000 3200 100 COO SOO 2J0O 3300 00 2200 4100 7000 1000 100 15500 I 1C0J0 100 400 3C0O 100 000 100 100 71)0 100 soo 00 30000 .1 500 3011 OD0 COO 2100 25000 490 4000 COO 35 0 CM 410 2 JO 410 6 10 100 100 111 0 210 1200 8,10 1810 430 100 100 DO 100 51)0 510 1500 COO ;soo 2310 100 coo 2700 330 200 coo coo 300 1S00 too 5430 300 7300 100 300 2 10 1010 510 f 100 10 11) too 100 500 3200 too 300 210 lGt0 500 SOO 1910 100 100 110 2010 2510 3910 2M 100 28 't 3(00 3700 200 100 3 I 5700 3100 10000 1030 590 12)0 100 100 100 400 200 3300 Dlv, In LIBERTY 0ND $50, $100, $1000 BoughtSold Recommended for Investment Newburger, Henderson & Loeb UANKEKS 1410 CHESTNUT STREET Member N. V. Si Phila. Stock 1. clmntrs Jloston . . . New York . I'hlla . . .. Richmond Cleveland Atlanta fhlcasro . . , bt. Louis Minneapolis. Mr. Hoover's remarks to the effect I 'n city that Europe -hould not rely on this lountr.v for financial help other than commercial credits and urgent relief work, were read with interest, but as a market intluence they were scarcely moie than academic. That Kurope must work out her own economic sal vation is not u creed to Wall street. MARCH AND MAY LEAD ON COTTON EXCHANGE Old Crop Holds 35 to 40 Points Net Higher October Rela tively Dull ;GE0.A.HUHN&S0NS STOCKS AND IIONIIS Mtmbtra of tno Philadelphia. New York and Chicago Stock Kxchanni New York Cotton lSxchin Commmlon Order Executed In All the Principal Market UEJXKVUi: COURT UUJO. 1418 Walnut Ml, NEW TOKK OFKffB ttl Ilroadnsy. New York Send for "Bond Talk" IX .W.UKWVftd W W. New York, Jan. 7. The early after noon market ruled quiet and firm, with old crop holding 35 to 40 points net , higher, while October showed an ad i vapce of 20 points. The latter month i was relatively dull, the bulk of the business going to March aud May. Much 1 of it represented swapping operations by prominent spot firms. Southern fpot news continued buIlUh. indicating that there was no pressure of offerings at any point In the belt. Thero were no exports for the day. Total exports thus tar for the season have been 2.025.201 bales, compared with 1,030,014 tjales for the correspond log perioa msi scison. Tan. Uarek iiisr r;:; 4. W&Z&i Teat. Today'! 11:00 cioa op a. m. : sa.67 as. oo : 4.St, 34.40 t 5i-T 'tl-SS .. S3. 00 lit s 82. W' 1J0 2JO p. m. j). m. 8T.00 .... 86.40 38,83 Dallas S. Francisco 43t Com'l paper IB 10 to 00 days day 4 i 4 , 4 4 4 5 4, 4. 4, 4t 4, 41 4 4, 4 4'5 4T 4 44 ft b r. ft B daya 4. in 4H V' ii dava 4t 4?4 tv 4, Reserve Bank Advances Rates New York, Jan. 7. The New York Federal Reserve Bank has raised its open market buying rates on bankers' acceptances Vs per ceut to 4Td per cent. The advance applies especially to bills maturing at the end of the thirty aud sixty days. No change has yet been made by the dealers, hut they are ex pected to advance rates if the central bank again advances the buying rate on ninety-day bills. Prices Easier on Paris Bourse Paris, Jan. 7. Prices wero catler on the Bourse today. Kentcs were quoted at 55 francs 25 centimes; ex change on London, 41 francs 50 cen times; u per cent lonn, 88 francs 40 centimes. The dollar was- quoted at 10 francs 08 centimes. Raw Qugar Market Active New York, Jan. 7. The refined sugar market continues unchanged. The National Co. quoted 15.20. less 2 per cent for cash, for granulated, but is making no allotments today. All other refiners are withdrawn. The raw Mivar market continues to disn'ay activity, sales yesterday being reported at 12c, c, I. f., for shipments the first half of this month. . . General Motors Increases Capital Wllnilnrton. Del., Jan. 7. -A certifi. cate of amendment wan' filed at Dover today by the General Motors Corpora tion permitting increase of runital from $1,020,000,000 to .$5,010,000,000. The state received ns stat tar for the tar j"?1 crease $220,600, the largest fee of tM " - '. lrlr.il n,i nftlrllfr, I lAlf,t.fl l4 . MU y, mui4 rwy, M, ,.. High IrOW .. Auvnnca numely .... 4314 VtVi 6 Advanco Itumely pf... 71J4 71Ji .. Allls-Chnlmers 53 Yi &1 7 Allls-Chalmera pt ... 0114 01H s Am Agrlo Chcm 0214 0'! 1 Am Bank Note 40 40 3 Am Bank Note pf . ... 45 45 8 Am Beet Sugar MK 9!4 8 Am Bosch Magneto... 117 110 . . Am Bo3Ch rts Z'i 5 .. Am Can 48 j STz 7 Am Can pf loo 90H Vt Am Car & Fdy 140J, 139 4 Am Cotton Oil 5114 St 14 .80 Am Druggist Syn 13Ji lH G Am Express 100 100 Am Hlda& Leather... 28H 27H 7 Am Hide- & Leath pf.110 118J 6 Am Intcrnat Corp ...115T4 114 .. Am Locomottvo 102,4 tOOl'a .. Am Locomotive pf. .. .105 105 .. Am Linseed 75 74 Jc . Am Linseed pf 94H Vty .. Am Ship & Commerce. 28 Vi 2814 4 Am Smelt & Ret tOH fiOyi 7 Am Smelt & Itcf pf . . . 98 08 3 Am Steel Foundries... 40H 45U 7 Am Sugar Ref 141 'A 138 '4 10 Am Sumatra Tob 00 97 8 Am Tel & Tel 0714 97,'8 6 Am Tobacco pr new.. 01 079i fi Am Tob See temp ctfs. 7114 69M 7 Am Woolen .103 li 153 . 7 Am Woolen pf 104 104 .. Am Zlno Lead & Sm.. 18 1714 Anaconda Copper .... C35n 62J4 .. Assets Realization ... 8 0 .. Asm Dry Goods 03 61 7 Asso Dry Cids 2d pf . . 75? 75 J4 G Associated Oil 121 110 6 Atch Top & Santa Ke. 84H 8414 7 Atlantic Coast Line. . . 03 03 10 Atl Gulf & W I S S..172 170 5 Atl Gulf & W I S S pf. 73'2 7314 .50 Baldwin Locomotive. .11791 115 .. Baltimore & Ohio 33?t 33yi 4 Bait moro & Ohio pf . . 18 48 8 Barrett 131 128 U .. Batopilas Mining .... IH t'A .. Bethlehem Motors .... 20 2814 5 Bethlohem Steel B 001a 07J'a 8 Bethlehem Stl 8 pf..H3!4 11314 .. Bblyn Rapid Transit.. 11H 1294 .. Bhlyn R T ctfs of dep. 9,4 7?i .50 Butto Copper & Zinc . 10V4 10 .. Butte & Superior Cop. XOT'a 2014 .. Caddo Central O & R. 27 2094 H California Packing ... S3 82 'A .. California Petroleum.. 44!4 43& Canadian Pacific 133' .13214 Today'aNet Cloeo Chge, 4314- 1 71T4 94 42 W 01 W lit 4 H 14 14 114 94 1 ? '94 T4 14 ?a H V 'A 194 G 10 3 7 5 4 4 8 4 8 6 7 4 1 I 7 7 3 4 7 13 7 R 8 13 r c 4 7 Canada & Southern. . . 13(4 Case J I Thresh M pf. aV4 Central Leather 1WH Central Leather pt... 10714 Certain-teed Prod.... 01 Cerro de Pasco Cop.. 50'4 Chandler Motors 120 '4 Chesapeako & Ohio... 511 Chi Pneumatla Tool.. 10494 Chicago at Western.. 8'4 Chi R I & Pao Gri pf. CO'a Chi R I &. Pac 7 pf. 7JH Chi Mil & St Paul.... 37'i Chi Mil & St Paul pf. 53 4 Chlla Copper 19?a Chlno Copper 40',4 Coca-Cola l(l'z Colorado Fuel & Iron. 43'i Colo & Southern 23 Columli Gas & Idea... G494 Col Graphophono .... 03 Continental Candy ... 13 Consolidated Cigar . . 0191 Consolidated Gas .... 83'j Con Interstate Cal M.. 19 9i Consolidated Textile.. 30(4 Corn Products Ref.. 87' Corn Products Ref pf.10054 Cruclbla Steel 21794 Cruclblo Steel pt 100 Cuba Cans Sugar ... 5194 Cuba Cane sugar pf . . 85 I.'elawaro & Hudson . 90 Denver & Rio (i pf... 13'4 Lndlcott-Johnson ....145J4 Kndlcott-JohiiBon pf..l04 J:ik Horn Coal 23 H L'lk Horn Coal pf... 3814 Urla 1394 Hrio Ht pf 20'4 l"amous Players-L ... 0214 Kreeport Texas 3534 Fislc Rubber 1530 Gas.ton Wins, i Wis. . . 19 GVneral Cigar 7314 General Hlectrlo 170U General Motors 33S General Motors pf . . . 80'-i General Motors deb.. 84 54 Goodr ch B F 83 Goodrich B F pt 10194 . . Granby Consol M & S 55 . . Gray & Davis 47 '.4 7 Great Northern pr. .. . 79U 1 Gt Northern Ore Ctfs. 1054 . . Gulf States Steel .... S2?a 4 Haskell & Barker Car. 0 7 Illinois Central .... 89?4 0 Inspiration Con Cop., toil . . Interboro Con Corp.. 4U . . Inter Con Corp pf.... 13 's 5 Int Agricul Corp 21 Int Agrlcul Corp pf. . . si is 0 Int Harvester 13294 . . Int Mer Marine 49J4 .6 Int Mer Marina pf. ..lll'i .. International Nickel.. 234 .. International Paper... b!4 6 Inter Paper pt stpd.. 79 .. Iron Products Corp.. 47 J 7 Jewel Tea pf 1214 2 Jones Bros Tea 28 Vi 8 Julius Kayser 118 4 Kelly-Sps Tire 150 8 Kelly-Spg T 8 pf...l0t 2 Kennecott Copper .. 3314 23!)0 1.30 Keystone Tlrt & Rub.. 3'4 1600 G Lackawanna Steel ... 89!4 900 . . Leo Rubber & Tire. . . . 38J-5 600 3.50 Lehigh Valley 41 '4 100 7 Liggett A: Mycri. pf. tOb'2 500 .. Loft Corj) 20'a 4314 091-a 10194 107 Vz 58 50 127J4 SBM 10414 S'j eoJ4 7114 37 !4 52 J4 19 !4 M 40 4216 6(4 (13 13 C194 83 i 1014 .10 Vt 8614 106H 2121-4 0091 5314 85 05 "a 1314 11314 103 2554 38 Vt 135b 20 i '!!- 2 35 44a 10 73 169 332 80 8114 82 10134 55 471J 78 H 40yi 80 60 89?a 6014 334 1'ili 31 81J4 131 14 48 11014 2514 H94 79 4614 4314 2814 118 14914 104 3194 4394 87J4 38 4314 103 Vz 26 Vz 03 40 -45 - 05 110 5 - SO 09&4- 14094 4- 6114 1294- 100 2394 4 110 4 105 - 75 03J4- 2894 69?4- os - 4514-13814- 1)8144- 194 0714 .. 07944-7094- 160 94 -104 18 4- C314 4- 0 -63 75944 124 4- 8414- A 93 4- 14 17014 4- 1 73144- 1 110J44- 114 3214- 14 43 13914- 94 1944- 14 30 4- 1 9894 4- 94 11314 11 4- 294 8744- 114 10144- 94 2094 4 27 4 83 4 4414 4-13214- 4314 4- 114 0914- 'A 10294 . . 10714- t 59 4- 127y4- 514- 10494 8 '4 60?i- 7114- 37J4- 33(4 4- lOJi,- 4014 4- 40 144- 42 1-4 4- 94 1 14 294 A 64 Vz 54 6214 V 13 - 14 0194 4- 14 8314- 14 1094 4- !4 3014- 14 86 1-4- 9 100544- 94 216 4. Hi 9994 .. 53 - 1 85 90 1314- 94 14354- 94 101 - (4 3554- 14 3814- n. 1314- 14 0144- 14 03144- 14 35 4- 94 45(4- 14 10 4- 14 73(44- 14 170'4 4- 14 330(4 1(4 8G 2 8154- 14 8294 10154 . . 551 4714- 14 '894- (4 1014 4- 94 83 in no 1 S9T4- (4 1094 4- (4 4 (4 1294 4- 94 21 - i4 81 V- 114 1CJ144- i4 4854 110944- 1 2C54 94 85(4 (4 79 7 Vt- 54 4314- 94 2814- U4 lU 1H 1494- 94 104 3114 4- 14 4454- 1 89 Vt 37(4- 14 43(4 .. 108 14 14 2UJ4 54 Sales 100 100 too 300 100 100 000 500 21700 400 12300 1.20 4100 4 100 500 .. 600 . . 200 300 400 500 ,100 100 510 2100 200 ,3J0 100 000 400 1.50 200 10 1100 100 600 200 300 100 100 500 200 9000 300 : 0000 700 1600 100 0400 1400 600 300 2100 800 400 lOt) 3200 7000 100 16C00 3100 200 100 200 500 100 200 400 200 0200 COO 600 300 100 1900 63200 100 3100 500 11500 8 2511) 1203 too 2209 300 100 3100 19300 2400 2200 300 100 200 21903 10)0 SOO 100 300 JJS00 4000 6700 600 4200 800 19100 1000 J 300 903 500 600 300 200 3 300 200 400 naoo 100 200 600 13100 100 26900 200 000 5. '000 rooo 220 10 3 100 200 6 'J too 600 200 800 000 100 300 300 200 1600 2900 203 200 1300 Dlv. In 12 Lqrlllard P Tobacco.. 178 .. Loose-Wiles Biscuit .. C814 7 Loose-Wiles B 1st pf.100 7 Loulsv'lle & Nashvllle.11014 0 Maclcny Cos 6914 .. Manatt Sugar '30. 7 Manhattan Kiev guar. 481 .. Maxwell Motor 3314 Moxlcan Petroloum..."13S4 Miami Copper 21-4 Middle States Corp... 7014 Mldvulo Steol & Ord.. 5194 Missouri Kan & Tex.. 914 Missouri Paclfto 2594 Missouri Paclllo pf . . . 4114 Mulllns Body 49 Montana Power 69(4 National Acmo 37 14 Nat Anlllno & Chem.. 69 Nat Anlllno & Ch pf . . 89 National Biscuit 120 Nat Conduit & Cable. 1114 Nat Knam & Stamp.. 85 Nat Knam & St pt. ..10214 National Lead 83J4 National Lead pf 10014 Nat R R of Mex 2d pf. 014 Nevada Con Copper. . . 17 New York Air Brake. 113 10 5 New York Central . . . 69 Jk 50 New York Dock 1514 . . New York N II & H. . . 27 14 New York Ont & W... 1094 Norfolk & Western... 9814 Norfolk & Western pf. ffl' North American 55 Northern Paclllo 80 14 Nova Scotia S & C. 75 Onlo Cities Gas 40 50 Ohio Fuel Supply .... 512 .60 Okla Prod & Ref 10)4 .. Ontario Sliver Mmj. . . 014 .. Otis Steel ..' 40 7 Owens Bottle pf 100 6 Pan-Ainer Petrol & T.10391 .. Pan-Amer (B) 10014 3 Parish & Bingham.... 46J4 .. Penn Seaboard Steol.. 32J4 3 Pennsylvania R R. . . . 43(4 .. 'Peoples Ga3 Chicago. 3994 .. Pere Marquetto 304 5 Pero Marq prior pt... 65 3 Philadelphia Co....i. 40i . . Plerce-Arrow Motor . 80 8 Plerce-Arrow Mot pf . .103 Pierce Oil 2394 Pierce Oil pf 08 Pittsburgh Co.il of Pa. 63 Pittsburgh Coal pf... 00 Pittsburgh Steel pf. . . 9194 Pittsburgh & W Va. . 2714 Pitts & W Vapf 7914 Pressed Steel Car. . . .10014 Pressed Steel Car pf . .103J4 Pullman US Tannin Aleero SUcar .. 96 2 Ray Consolidated Cop. 22(4 8 Railway Steel Spring. 8O2 4 Reading 7014 2 Reading 1st pf 3414 8 Remington Typewrit.. 9294 6 Republic iron & Steol. 12054 8 Itepubllo Iron & S pf . .110'A . . It public I & S rts 194 . . Replogle Steel 4714 70 Royal Dutch N V.... 10514 , . Kt U San Francisco.. 17(4 1 Kt Joteph Lead .. . 1594 . . ht L Southwest pf... 2554 .. Saxon Motor 10(4 . . Seaboard Air Lino ... 7 7 Sears-Roebuck pf 11794 6 Sloss Sheff S & I '014 .. Sinclair ConBol Oil ... 4794 .. Shell Trans Trading.. 8314 G Southern Paciflo 103 ,. Southern Railway ... 2254 5 Southern Railway pf.. 5554 8 Standard Milling ....145 7 Studebaker 11294 4 Stromberg Carb 83 5 Stutz Motor 131 3 Superior Steel 49 Third Avenue ..':.... 149 .. Tenn Cop & Chcm.... 1194 .. rexas Co -'- . . Texas Co rts "''A . . Texas & Pacific 4114 0 Tobacco Products .... 95 7 Tobacco Products pf..l00 . . Transcontinental Oil. . 30I8 1 t, ;,n(.no & Wms Steel. 61 Union OH Union Paclfto Union Paciflo pt United Alloy Steel .. United Drug United Drug 1st pt.. United Fruit Un By Investment. . . . Un Ry invest pr 3 United Retail Stores. . U S C 1 P & Fdry... . U S Express JUS Food ProductB.. 8 U S lnd Alcohol 8 U S Realty & Imp... 8 U S Rubber 8 U S Rubber 1st pf. 6 U. S. Smelt & Ret. . . . 5 U S Steel U S Steel pt ( Utah Copper . Vanadium Corp ' Va-Carollna Chem... Va-Car Chem pf Va Iron Coal &Coko. , . Wababh pf A . Wells Fargo Exp . Wheeling & L Erie.. -11-lir.al X- T. V.rd Tlf . . . 4 Whlto Motor 52 V 5 AVIlson & Co . Wefctorn Maryland.... it? . Western Pacific '-s 4 Western Pacific pf . . . 7 Westlnghousa A Br. 4 Westnghouse E & M. I Willys-Overland .... 8 Woolworth F W . Worthlugton Pump.. Worth Pump pi a... 37 .123 . 6814 . 5314 .11214 . 52 Vi .200 . 11 Vi . 2594 0594 . 23 Ti . 31 . 7554 .11114 . 4014 .14094 .11314 . 74 .10814 115 . 78?'a . 5594 . 70 .112V4 . 83 14 . 24 . SOU . 13 13 Hleh Low 178 esW 100 110(4 6094 130 40 3394 20514 2514 0894 50 14 014 25V4 4114 4854 GO 37 0814 89 120 11 A 414 102 83 100(4 594 17 113 6914 4514 36T4 1694 0814 6714 55 8014 75 4814 51 V4 10 0 3914 100 10094 9894 4G 33 Vt 41 J4 38 3b 0 3914 7894 10s 2014 00 0294 00 Vt 9194 3714 702 100 100 Vi 1154 0354 2214 991 7814 3114 83 110 10G 114 47 10354 1714 1554 2594 10 7 11794 7794 41(4 82 102 23 14 5554 14394 110 14 80 130 14 40 II 1114 214 50 41 0114 102 3SV4 63(4 37 12314 OS 51(4 143 5314 109 11 li 25 14 0314 2394 31 7514 11094 4014 13714 11574 73 103 Vt 114 94 7714 55 Vi 6914 11214 83 Today a Net Close Chte. 178 - 2 884- ltf 100 110V4 194 69914- 394 130 - 14 482 33V44- V4 21144- 294 25144- Vi 6914- 154 5054- Vf 9V4 4- 14 2514- 4 4114. . 4854- 14 69144- 37 - 14 69 89 - H 120 - 414 1114- V 85 4- Vt 10214 4- 54 83 - 14 100V4 1H 0(44- 1 17 113 69J4- 54 45(4 4-4 37 4- a 1094- 54 98J4 G7144- 55 80V44- 14 75 4- 1 48V4- J4 61144- 1 10-14 0144- Vi 3994- V 100 10394 4- Vt 10014 4- 14 1G 94 32 Vt- Vt 43V4 " 38 30 J- Vi 05 - 1i 30 Vt 4- li 80 4- IVi 108 4- 1 2294 4- U4 07(4 4- 1V4 63 94 00 J4- Vt 0494 4- 254 27(4- b 7014 3V4 100144- ?1 too V4- 1 11594 94 94 - Vi 22(4- 5a 0914 4- 14 7014 4- V4 34V4 4- Vt 93(4 4- 214 120 54 454 100 194 14 17(4 V4 105(4 1V4 17 14 . 1594 V4 2594 154 16 .. 7 .. 11754 154 79 2 4714 1 1314 1V4 10334 14 3294 Vi 5554 14 145 2 11194 94 81 94 1 129 - 1 49 V4 It 194 1194 Vi 233 V4 "5714 94 41 0194 '-M 100 4- 3614- 94 61 f- 9a 37V4 Vi 122 Ji V4 68 V4 5214 14 142 1 1 52 V4 109 -1114-2594 01V4 2314 31 I- 7594 113(4 294 G Ul 117 av4 , 20 V4 123 14 oo V4 15 23 Vi 5314 1294 18 6254 77 1154 2194 63 117 394 30 V4 128 00 '.3 46 14 13774- 11574 71 .. 100 115 73 55 V4 10 112 14 18 - t3V4 78 -1194 25 64 117 -1094 . 30 V4- 128 - 00V4 73 - 94 54 74 Vi Vt Vt 94 Vt 14 14 V4 1V4 V2 V4 LOCAL STOCKS STATIONARY IN QUIET WAITING MARKET. Continued Odd-Lot Buying by Small Investors Tonopah Bel. mont BrcaJcs Into New High Ground The local market drifted Into an ex tremely narrow rut Indicating a still strictcd adherence to the waiting policy. This was not because of any present or possible adverse local conditions, but more as result of n general disposition iu market circles to wait until mutters generally shape up better. The pre dominating question, of course, was the money market. As n result the volume of business dwindled to Insignificant proportions. those that were registered it-erc without significance except to further emphasize the narrowness of the market. This ap plied to bouds us well ns stocks. There was, however, continued odd-lot buying, showing the little bargain hunter was still around. Kuch purchases were con lined principally to Pennsylvania Hnil rond and United Gas Improvement. The latter made n new top for the current movement, selling at 58, which is nearly ?7 ubove the low-water mark touched last month, including the quarterly divi dend of $1. Trading in the Tonopah shares con tipucd to broaden with Tonopah Bel mont advancing to 3 and Tonopah Min ing to 2. In most ull of the other local stocks dealings were of a perfunc tory nature. Electric Storage Battery recovered .$1 of the recent reaction to 1.18. Lake Superior Corporation braced up after nn opening dip, advaneinr. 1 2114 PhlladclPhia5ElStric hew fJac1! Honally abovo par and PhlladenM Rapid Transit and Phlladelph Z Tr?)' Hon ruled steady at 27 and 03 ! spectlvely. Small dealings raised Phiu , adelphia Co. cumulative preferred fiftr ccntB, to 34i. "' The speech made last night bv hi. George Paish at the Philadelphia banV crs'. banquet came In for consIderaSI informal discussion In banking clrel.i today. It was the concensus o onhC that Sir George had painted his pictu,. with too strong high lights. ' u" Most of the bank officials were n liicto.pt in going into foreign exchanzi situation very deeply, as well as tfi financial needs of Europe. The situi. tion, they generally admitted, was delicate one, and, no doubt, there ! 11 great demand In Europe not only fal extended credits, but also for raw ma. tcrials. They felt, however, that Sir George, in his effort to impress unoa everybody the seriousness of the Euro, pean situation, had overdrawn the pk. ture, which would tend to frighten rather than to uwaken the sympathies of the banking world. The majoritr however, expressed the belief that wajj and means would ultimately he found hi which Europe will be extricated from the present dilemma. MONEY-LENDING RATES NEW YOKK Money on call, both mixed collateral and all industrial, opened today at 7 per cent for lending and renewing. The time money market today showed very little money available. Some trans actions in 11 limited way were made for sixty and ninety days at 8 per cent on industrials. The minimum discount figure for prime mercantile paper is 0 per cent with business very limited. Prime bank acceptances arc quiet at unchanged quotations. The call loan rate on acceptances is unaltered at -l per cent. PHILADELPHIA Call, 0 per cent; time, 0 per ceut; commercial paper, three to six mouths, C per cent, and six months, 0-1if!,0 per cent. LONDON Money is quoted at .1 per cent. Discount, rates, short bills, 0 per cent; three months' bills, 0 per cent. CHICAGO BUTTER AND EGGS CldfUR", Jan. 7. BUTTIin Unsettled. Creamery. 53$A4V4r. , , ., i:GOh Higher. HecelptB, 140S rratua. Firsts, 77c; cirdlnnry lirsls, 55008c: at mark, cai-cs Included, 05070c. ' FOREIGN EXCHANGE New York, Jan. 7. The foreign change market opened weaker this , morning, partially caused, it is believed, by Mr. Hoover's statement ot yester day. Business was on a moderate scale, Quotations were: Demand sterllnr 3.77V.1, cables 3.78; franc cables 10.88, checks 10.00; lire cables 13.301 checks 13.32; Swiss cables 5.62, checks 5,04; guilder cables 37. checks SVA;' pesetas cables 10.15, checks 10,05;. Stockholm cables 21.40, checks 21,23; rhristinla cables 20.25. checks 20.10; Copenhagen cables 18.75, checks 18.60; Belgian cables 10.87, checks 10.S9; ' mark cables 2.05, checks 2,03. In the early afternoon, sterling was steady at the lower level previously re ported, but French, Italian and mark exchange declined further. Late quotations were: Demand ster ling 3.70VJ., cables 3.77VI ; franc ca bles 11, checks 11.01; lire cables 13.40 checks 13.42; riiarks 2.03. BANK CLEARINGS Bank otearlnga today, compared will , correepondlnc day last t-o itirs: 1 1020 1010 1918 Boston.. tS6.H0, 084 $49,645,970 J41. 287.572 Phila. .. 82,833. Ml 72,549.0.-11 03.944.8U IU.U. 3,043 13.41S.117 327 085 570.031,8)7 Hnltlmoro ChlcaKO. 109.299,871 00.131.327 ?. lorK. U3i,au.mu hod.ioo, Ex-dlldeml. TUSTIN GETS ROOMS FOR WELFARE WORK Council, However, Must Find More for Director and for Other Departments COMMITTEE STARTS HUNT lawarei A hunt through City Hall for rooms for new brunchns of the city govern ment was instituted today by Council's committee on rooms headed by Uobert J. 1'atton. The first work of the firt committee named by the new body is to obtain permanent quarters for the De partment of Welfare. William II. Pelton, chief clerk of Couacll, yesterday IuaDCd three rooms on the fifth floor to Director Tusliu, of the new department. Clerks were Installed and organlzatiou was affected. It is up to the councilmanic commit tee either to make permanent the loca tion or to find other quarters for the new branch of government. The committee includes, in addition to Chairman Patton, Messrs. Burch, Hall, Buchho'z nnd Roper. Their du ties will Include n reapportion of the suite occupied by the dual Coun cils. The former Common -Council chamber will be 'retained for a pub lie meothiK. nlacc and will nrobablv be used by statccotnmUtdoaa as well as pity wtblnifest V ,V"1" flHKr. the handsomest in the City Hall, will be plenty large enough for desk room for the twenty-one mcmbeis of Coun cil. This is now being used to house the desks which the old Common Couu-' film' n voted to themselves, and which are now being held by injunction pio ccedings brought by a taxpaer. The old Councils occupied the entire northern end of the Diiilding on the fourth floor and a portipii of the s-nme end on the fifth floor, what disposi tion will finally be made of the eight or ten committee rooms remains for the new committee to decide. DUBLIN SINN FEIN RAIDED Police and Soldiers Search Head quarters One Arrest Made Dublin, Jan. 7. (By A. 1.) Sinn Tein headquarters lu this cltv was raided todav by a big force of police and soldiers. The raiders u'm) entered the offices of the Irish parliament and those of the New Ireland Assurance Society. Highly, toldiers, armed with rifles with fixed bajonets, carried out the raid on the assurance society's offices. The men, wearing trench helmets, came 'In motor lorries. One arrest was made. Michael Staines, Sinn Tein member of parliament, Is chairman of the com pany, Large crowds watched the raids. At Sinn Fein heudquurters fifty boldiers, accompanied by police, conducted the Ministers to Speak Bishop Ilhlnelunder received accept anccs today from three ministers who have been invited to deliver addresses at 4 o'clock next Sunday afternoon In Holy Trinity 1'rotestaut Episcopal Church, Nineteenth and Walnut streets. They are thi Ilev. A. J. Rowland, sec retary of the Bantist Publication So ciety; the Ilev. Dr. William P. Ful ton, chairman, of the Presbyteriun cva,n n lc committed, and the Jtcv, Ram- sTmW . 'i,' ,"!,. UU,S' ol w xnirtecnia Btreet . T ,- HV v .UfUlUUlSt uflurcu TO DEMAND KAISER JAN. 15 America Will Not Support Allied Re quest for Extradition Anicrongen, Jan. 7. (By A. P.) Allied demands for extradition of for mer Hmpcror William of Germany, iu which it is known America will not participate, are expected at The Hugue about January 15. Recent press dispatches have stated Count llobenzo'lern might surrender rather than embarrass tho Netherlands Government, but it is authoritatively re ported he will rely on the protection of Holland and her refusal to honor the Allied demand. Ho is determined to settle down to life nt Doom, where his house is being ruslied to completion. Copenhagen, Jau 7. (By A. P.) Germany's peace delegation has been instructed to claim full damages from the French Government for the perma nent injury to the health of Frail Dorn bleuth. who-wns struck by a stone thrown by a member of a mob when the German delegation was leaving Ver sailles last July. discuss 'WmTmonday Premiers to Take Up Adriatic Ques tion at Coming Conference Paris, Jau. 7. (By A. P.) Flume will be the only question discussed nt the conference of premiers and foreign ministers to be he'd here next Monday, according to information emanating from semiofficial headquarters. Premiers I.loyd George and Nlttl arc expected to arrive in Paris from Lon don Saturday evening. It Is said Lloyd George desired the Turkish question taken up on Monday. It Is understood, however, that Premier Clemcuceau ob jectf d. The question therefore has been postponed Until Inter, Nt tb6 Adriatic problem will come up' immediately, FOREIGN INTERNAL BONDS Wo have established Direct Cable Communication with Belgium, France, Great Britain and Italy and through our agents in these countries can offer subject to change in prico Tuosiluj- Closing Prlc Trice at I'sr ISxchange Norma Belgian Govt. Restoration 5i $101 per 1000 frs. $193 French Govt. Victory 5s 86 per 1000 frs. 193 French Govt. 4s of 1917 70 per 100,0 frs. 193 British Govt. War Loan 5s 384 per 100 486 Italian Govt.ConsoIidated War Loan 5s 72 per 1000 lire 183 We are prepared to give information concerning: these nnd other, Foreign Securities and invite correspondence on thi subject. EDWARD B. SMITH & CO. Banker 1411 Chestnut St., Philadelphia ELKINS, MORRIS & CO, Bankers Land Title Bldg., Philadelphia Due in Eight Months Bond secured Gold Notes of Louis ville Gas & Electric Company which owns and operates, without compe tition, all gas and electric properties in Louisville, Kentucky. For year ended October 31, 1919, net earnings, after deducting interest charges on bonds outstanding, ex ceeded three and three-quarter times annual interest requirements. Price to yield 7.36. Ask for Circular No. 7302. Bonbright & Company MOKUIS WIST.Wt HTHOU1). Jr., jtuuer 437 Chestnut St., Philadelphia Chicago New York lloaton Detroit ERNST & ERST TAX SERVICE AUDITS AND SYSTEMS PHILADELPHIA 2023-2024 LAND TITLE BUILDING. TcJephon.-LocusI 2681 NEW YORK BOSTON CHiouU PITTSBURO.H 8T. 1.0UI3 CLEVELAND FORT WORTH CINCINNATI DETROIT TOLEDO OALLA8 MINNEAPOLIS f5.U.8Iy BUFFALO , WABHINOTON ATLANTA KANSAS X5ITY TN0JAnAPOLI8 Jri ."- S v - m "I -t" i v . r M-.i,iiw , i . t &jmK- jfeaaytyiiAa., ij ., ,: ""- - " iAijC, n- 'a&j, rt(kvttM'xi x- I V i till' itfiii'Uit;. ,'H A ijftrli'iif-1 1 I u I flfiaP.TfY . f'a;t .- tr vi'iiiS J?
Significant historical Pennsylvania newspapers