-ys $w?r ikmfv vy- cr vt ;v s' ! ,- 'ft T r n, i LVEMSG JL'UliUU LEJJU-EK-miLAJmiJHiA ATUKDAY. JANUARY 10, 1920 '315 .. & . i' fair . n w 1 I; ' :' :,l If-.. l w m Wc Recommend for InTcstmcnt Phila. Co. 6 Secured Notes Duo February, 1922 At Present Prices These Notes Yield t'( 7.60 Earnings of company for past year will show nearly 169'o on Com mon Stock after nil otlior charges. Properties comprise plants ami equipment for production and dis tribution natural and artificial gas, electric light and power, and oil, as well as" traction system of Pitta-burgh- WE SOLICIT TOUR ORDERS Carstairs & Co. "Members PhltndclpliH and New lork Moclt Excliontei 1119 Walnut Street 71 Broadway, N. Y. Investment Suggestions Wc have just prepared a circu- 3 lar listing 104 attrarthc bond 3 offerings, includmr. 3 37 Municipals, i 12 Railroads, 3 16 Public Utilities, Jj 8 Industrials, 3 17 Foreign, H 14 Short Term. 3 el The rate, maturity, price and J yield of these bonds arc in- B dicated, a3 well as their tax- m exempt features. Many of the q bonds are local investments for j Savings Banks and Trust Funds. S Send for a complimentary copy of this circular, No. L-1T. I A. B. Leach & Co., Inc. H 115 South Fourth Street 3 &ii:vijr3iiiri!iiii!ii!iii!ii;nra,i'iiii!fl'!iPi!iiHwiiiiiiiii,ii(iii'i;i'ii,i NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK" QUOTATIONS STRENGTH OF STEELS GAVE BACKBONE TO THE MARKET Mo.st of the Improvement Came From Short Covering Week's Movement Was Very Disappointing nT!S'xJi"iiSi -SVA' .Jt-J,-- s- 1 SIliSSSZSl'iSS'A ijS-'Jt'ut .. Citizens Bank 11 PI open for business Januarr 1?. Vour f rount whether lurac or mall, will bo Greatly np (ireiliiteil. 22-24 South Third SI. Philadelphia Now Yoik. ,lnn. 10. The tone of today's flnsing market showed consid erable Improvement. This was largely due lo moderate covering nC tho short juiciest, hi there was n gcuoral dispo sition on the part of this clement of the professional traders to reduce out standing commitments in fear of the possibility of some constructive de velopment over Sunday. It mm the strength of the steel and erjulpineut shares, however, which gave real color to the improvement, hs the streugth of this group undoubtedly en couraged free covering in other parts of the list. United States Steel vtai helped In the expectation of n favorable ton nage statement today. The wider gains, however, were made bv Republic Iron, and Steel and Raldwin Locomotive, which were the real active leudcrs. The greatest gain in the industrial division in which interest vn "still concentrated was in American Woolen, vvhnh ndranccd over 5 points The oils were 'irregular. Short envorini? ranied Transcontinental up to 32. while Mcienn Petroleum under pressure de clined 3 points. When the more urgent needs oT the shorts were supplied the trading slack ened, but the market retained a strong tore up to the closing. No matter from whatever angle the week's market is measured, the results were disappointing. Considering the disturbing elements of the week's de velopment, however, the market "stood i up remarkably well. There was a mod- I crate but general setback, which might i have reached much more serious propor tions had not Wall street already sue- ' ceeded m putting it", house pattially in order Unlike the November collapse. there was a noticeable absence of urgent i liquidation, and what selling did develop emanated largely from the professional element, which rather than weakening' the market position strengthened it. ' The market community, however, was-1 i confronted with indisputable facts that ' thi was neither the lime uor the place j for any ovtensive market movement I The week's developments proves! cnu- C'unel,v the substantial rebound wit- i nesscil In the closing week of 1010 wasi I the ciiiteome entirely of the correction I of a technical coudition rather than re- ' fleeting isscntial chauge iu fuudnmcntal I and underlying elements. I To those w bo had made nil unbiased , I unal.vsis of the market and the coti- i trolling factors of the financial situa tion the happenings or the week were regarded nf entirely logical and naturat. That Is to snv, every reasonable, think - ring observer recognized the serlouslv in flated credit situation was n conaition which could not be corrected In a t'ay. a week or a month. They recognized with time money almost unobtainable at 8 and 81 per cent for thirty to ninety day periods all talk of ealer stock mar ket loan rates were senseless. This sensible conclusion was fully confirmed by the further warnings is sued by the Federal Reserve Board against unnecessary credits, ns Governor Harding put it. "unessential loans." The admonitions of the federal Reserve authorities were not alone aimed at the security markets, but also applied at speculation in commodities and realty operations. Proof of which was evi denced by the lightening of rates nt other reserve centers br'ides New York, including thos" where dealings iu food stuffs, cotton and metals form an im portant part. This alone could have been safely counted on upon placing an effective damper upon speculative enthusiasm. With the increasingly unsatisfactory state of the railway situation, fresh tin settlement in foreign exchange, and in jection of political animosities into the peace treaty tight, it is a little short of a wonder the market did not suffer a sharp breakdown. That it did not should be accepted as strong proof of its inherent streugth and proof that much of the adverse side of the general situation has already been discounted by the severe marking down of security values. 'I .s- .narkel. as a matter of fact, is similar to u pntieDt who has passed safely through a severe illness. The real crisis has been passed, and it is now entering into the convalescing state. It will require careful nursing with the avoiding of all necessary shucks such as might be influenced by some oicrzeatous operations of pools ami cliques. It ma.v need n little tome but unless surface signs arc failing it is in a fair shape to respond to a radical change for the belter in general conditions, which rntinot be much long er delajrd. Clouds overhanging the tmauri.it hori.on aie now heavy and threatening, but the situ of piosporlty Is still shining behind, and sooner or later will break through. It is not the time to become pessimistic, it is, the time to acquire the optimistic habit. 1 NEW YORK STOCK EXCHANGE TRANSACTIONS NEW YORK BOND SALES Summary of Individual Transactions on New York Kvcliange Lawrence E. Brown & Co. GtnTlFIKD Pl'BMC ACCOUNTANTS IMV KI.AI. ESMIi. Illlsr ULUO. tnitsliirjtt? ui,u jijjut isjttiivrfchit, unit Also iireimre u. S. iorucrjtiuii atriiuuth. neiiH lux lieiiirni. AH' .1 STus nr. 3 4s ! 1000 .. 12iv .ni i ar & TJ' tope .- SUN Am S &. Jt.f Co os ;t000 SB Am Tel - 'lol clt 000 . ! 10t)0 97 Am Tel & Tel 5s soon . . . f3' noon . . 83' iooo . . i" "000 R2Ri Am Tel & Tel 6s r.ono . !"' .?noa WVi :ton s'J'i Vugiu-Firncli H 5s nvANf IM, nmiql I'.lerHnn SSHliltTH MTIO.ALDtM( M ' PhUHdeipina I"ecember 13. Iflto T!w Annual Klir'liin tor Dirctor wlll'bs hld at th Hjnklnr Hftuso on Tnettdar .lar carr IStlt. 120. hrtvvren the hours of IS o'clock uumi and 2 p. n. CKV.Ri.eS V COf!r; Tahlr riitr. iiii .sriiNAi. n.i! P I i I. irl-i i !,.-. ml. . tn loto rb HHM1 '' 'inn t r Dir-ctnr .if Ik'- it 'h lidninsr 7rn,i. ueincpD liour ts1 Kinlv v. ,1 .. I."i 1 T'iet"l,, .laruar 1. -l m uittl 'I p fn W II 1 1VM IU.M, tS7'"', svi.-r : - ll",ll"i' N. I ION or III!". M.NslM.tns llt.Mi Olr.ri a il I rni,rirJ Vn... Vhliarl-iDhU Hie nnuHl M"i'i for liwu ,,ll b, hld ' Ksnl,pms Itoiio oil TnV.Vlai .nurT 13. lOSit. ictvecn the hours of 1 1 tills h. 1 M W. W. I'RICE. rashler. 2.-.0000 i'50on -oon sooo 1000l 30000 innoo lunon 3i)0e soon Armour soon . 3000 Atch T S loon iooo Alt li l' t I OOP toon iooo AH I'oav (?000 Rjlt S. O Si 110 . !'i nou as-1-. . !) no n no's, 06U Co 4-jS S3',i x.-.', S V adj H Jt" 3 70 ' 70', sn Cily or L,yo!ia 6i loooo .... n; v-'ity of Marscll'3 Cs , nooo . . 02v i 1000 , OS'S, "000 . n.li., C of X V iHh ,,,"60 40000 . . f1'a 'Mty of Faria B 6s 1000 . . p.'sn 1000 .... flji) isnoo . . 2!4 12000 . . S2i C '" : .t b"t I, gm 4s 1000 . . . 03 Colo & So ltwy iHa 1000 . 741, I Del & ttucl Canal cv i Northern Conn ,. s.iiv I toon loon it N 'V uiu i West ts soon . . tso N V Kallvraya ot 5 10000 . . T'i N Y Telephones 4 2000 H1 14 4000 ... SI ooo ... si 1,4 N Y Telephones 6s 1000 .... f6l 2000 . PS ;ooo tie Nlvv York Kwya 6s 2000 . . "M, N W C S B lis 1000 ... ill 14 Pacific Is 7S--. 17000 . . Third Ave 1000 . 103 Illy" 49 iiOOO S5' IOOO 7H''. Det Cdl Co 5s of 40 noon 7S-i 3000 . R74 I No Matts l'uer 5s Det Un Hlj-W3 IHsj 3000 S3 1000 . . 7 Oregon Short I. 4s Dom of Can of. 31 I S000 .. sill as sutTiivAnh vTio.v.r. ba.nk I'h atlr sihla. P. Tli A'snsial K!"-tion for D!rctora of thin lnk will be bid 11 ih hnnklnt: h6uee on Tncilay. -Iiininri 13th. 11;o. between the hours of 10 o 1 !oc'. d m ami 12 nVlooli m H II WFIrtT Cashier. TilvtilenH. i'iitui)i;r i'Ht iMnn tkwsit niri'ti'i ! r'ulden.1 -v:, 7 I Mii'-elulili .Ian n .co. n;n rer int Te'iinr ilollnr -inl menti-ll,. ,.,." .r s'l.ire .1.4a b-fn .'ecll-fd out of the ,. 1-Iuf earcni-i. to ri-nib'i 31 inin upon ,,J .aDllal ' k f mi.. mn nr,v 31. IOVI. tn -1 ri-hnM. r rtose of bu ne-e n Ifimmr fer tMOKH 'S I i-dH ,' open ' JK P Kl I I- liftvahl. J.... f r r nrrl at the 1 1020 -r.in. 1.1M- Olt 71 1 I, K & West Vir fa'ja 4s 1000 &H BaUimore Ac Ohio cv 2000 . . 03i 2000 . 03 Baltimore & O S's 2000 .... 1314. Baltimore & Ohio 4s Bonn 614 tnoo 07 S000 . ""'"a Baltimore & Ohio 6s 1000 OS1, n Ealtlmoie 8. Ohio 6s 23000 SO',,: Beth Steel Corp fit .noon s" Ceu of UcorKia en 2001) 80 Cent of Ueorgla 6s -e'ai'v. i:nk or mr ri.i. lllilco ni'd Midi, tie inc. I" ilid r"l. P4 . .tan 1 The n.re to- lijie .hli. o-av declarer! , (March 15 nnil enn.,l)er li. ln "J8 Ly ',." ilf-o"10 " '"'-"'ii. February lu ll'-SJ. 1 r t-v ' b Tj l-rl tinire of The liiltcil I, an IniDrnirincnTm X. V. Cor Hi ad mm Areh (,", " l-h i.l 1 1 in li in,,!,,., 1,'TO, Tl nirf'e ' . ; inn, rv deeiirert niMrt'r! 1' ' i' "f to rr cnt IS no per i-liie". i' "' Janiinn is, ion . .tockhs.M - of s. r.l ,.' thy el,,,. 0f bu'. i.t-t.r'iiiut - t ii"- nriin 1i11 i- unnjlH Tr,,,, "' 1 non iooo Central SOOO flies h SHOO iooo icon noon 031 nt Pact fie 1st 75'i Ohio i'ss ;3s r-'4 1. w in'illt'l lMKIts TlON l - i Y U Th lUu.'l t" l'li Tf.uMr nuirl f H half P"i 1. 111 'I ' ' I toe, . f thl i' 'iniMlt Ifl'.'O to pirfe- . I 1 tho close ot 1 rifcrt i'inii-.Nv ' '"ino"' 31 IPIU nofj hue dHi-larvd a d' nt "I one and one "i1':,""f"rr"d eaoltal ! t,M "J'.'uary 8th ",' "" u,' 1,, ,rd 1 .1 I. 1..BH.. ft ir " ' '::. ",,- riL'ii '1LW s "-'" l''IF.nO Tien" s nuiN i. I I -l.tltlTV iix.mc ' luiu.i ,ian in.. Che & Ohio cv 4 Vis 1000 . 76' 4 inon 70i', Chrs & Ohio cv 6s moo soii IOOO HO'i Chi is. Alton JVB 201100 31 23001) 31 Chi H i liuincv gm 1000 . so loon ' lllllll SI Chi B h Qulncev 4s "Win ." mtio ossfc Chl & Urt Wert 4s .1000 SiT. lunn ftnvi C M . St P frt JVia nooo . an, tono . ma 2000 . . f)iy4 Du & Iron R UU 5s 3000 . . . r0lli Erie RallRoad cv D I oon . . . so ij, Hudson & Man In .-.000 lUV'i Illinois Sleel Co 4 ',4 3000 S3 Imp .lap Govt 1st flonn 7S inon I noon Imp .lap 3000 . 77 Imp .lap Govt 4s 1000 Cfl, sooo . no 10000 . n 3000 . 034 Indiana Steel Co 6s iooo .... 03' Inter Mer Marine 63 1 BO0O . . P3 interb Met Co 4s Fer.na It It gm 4 4s 1600O . . S3'4 10000 . 83 ',4 Penna rt R en 4Hs sooo 02H Ptnnsvlvania Hit 5s 73'.., 7R Covt 2nd ' 2000 8000 nooo 3001) :.oon soon moo MOO -non 20P0 3000 1)2 02 32 32 32 ill. ni'i, 0: 02 U K ot G B & I 21 1000 . . niiji, 4nou ssii -oon on',n 2000 . 06'!i 2000 . os";; Untd K or O B 4 I rets ot '22 3000 . . 33 looon . . . 05 2000 . . 3314 Untd Iv of O B & I lets of '29 IOOO . . . J.VJ1 22000 05 V I SHOO 15 IOOO IIS 1,4 48000 . . . 33ia ; 2000 . . osm 10000 . 05'4 SOOO 05 I U K of U B & I 37 2000 . . 00 looon . nou 1000 nou iooo oou Union Pacific RR M noOo . . si Union Pacific R.R 4s 5000 . . 83 1 Union Pacific Hit 6s IOOO 10131 3001) 101 !, I 2000 102 Untd Kiy Inve.st Co if Santa l'e fis etlrs 200 too 399(1 100 too 100 tson 100 400 1230 too too 3309 2J0 7200 300 1.500 200 100 400 100 400 mo .110 sooo 12s 00 too 1930 100 2000 100 ton 400 oo 7ft 53J0O 200 230 300 100 1300 too 10230 390 100 490 HO 30)3 10 2)0 r.10 r.io ISOO CiOO r.oo 450 non 100 r. 10 3)0 100 330 2 DO 110 ion 2300 1009 200 S-00 209 too soo 403 2400 sno 600 709 (100 2100 3200 son 330 1411) 11(1 2 1,) 1O0 100 1230 Wt 2C0 23)0 3730 230 100 200 1230 230 2ftin too .110 em 311) cm 290 21)0 230 100 100 1400 son r,D0 3013 too 210 400 JOO 10') too T)lv. In t 1000 5000 IOOO soon inon 10110 nooo 18 IS IS is-s; 18"-18 18' Pero Marquetto 6s loon .. . 87 ! Ileadlnr nn (' (J 2000 80'4 Read Co J C Coll 4s 8000 .... 80 Itlo Grand & W 4s I 1000 05 I Rk I Ark S. U 4U9 I innoo 200(1 moon sooo URofS F 13000 73 73 75' 4 75 un ct 4b 2611 r.eal & Imp 6s loon . moo . Seaboard 1000 500O Sep board 2flon 1000 S3 03 Air I, i.v; Air I. . 3G', 31 M' J, Inter Rap Trans fd I South P.ell T Co 5a Tli- dire, mn Ni n ,av dt,!.";': . 2000 . CO ..mtamiuii d'v idend of Inche (,s) pn. I c m & st P Km iA ia-Pble mi dmani , ,:"!'" '-'0 000,00! :"" :! XdlMdod i'i" " ., '" W.h Chl M & VI V i uJjM;-'sKK, ' a.hler . jnon . 7 Til UM Itna rd ..The ffllt. fa' all iiilrd J.i i' fill.!; vv mn 1 ' I n'nuttl divldeii, .iuniiiir in, m -t,,. uiioi.i lieika Mill b. mall.n. liM.l.MAV 3 rei4i,grrr lll IRI ST ((I. I p" ii 7 in.'o ' lhl d.i de of three per , .1 II MIMI HIM H 'Ullll.1,11,1, M; ICMI.UOM) IO-.M " ," I IIU I", rourlli si. 1 lil 1 I . Ilth Muiiii, r mi '','.' '',.'J'iSe.,rr,";n' '1s'''3 err I' la fi 1 d iued I a, able Vim 'I. !-. lll'.'O I,, alia MivluerB of 1 ui lOlli iu i" f 1 1 " 1 1 mi ii"- Huh I if 1 I it i) ' in 1,1, f 11 a fliiip-' A l'. fh.irei I' III, I'!' II ice-rd t Tim ' ' mrl Mil Vt.intl, 1 ( h .l. i Ml' I ' HI ' 'M V M I 11tl" 1 II, i I I ri ,i 'jr Tim nil Vleet ill;- I Ml) N HON l IMit.ad' ll'Oia. I'a ailliunl i il.l,! hinl, vuw h In I.l houte un TiicmlaJ, .liiiuir 13 U.v. 11. ih lu.ura 01 I lion of Ulr-i"orn aOcb il In r lu UH-Io fv IIV.NK I... l.MIl M'lll lllUlllkt I 1 1V iMIlMlltf 1020. betHeni nil I n 11 lor Hit, alco. ud w Iho triimartloii of us 111.1' t-oiii' bifoi thj al'lBUllSIHHIH. Cu-ihlci-. anon . 7 C M St P U Is 50011 (12 Chi M i. St P 3Vjs 2000 (K) C M bt Y cv IWs 2nnn as inon in 'a looon (17 'i luooti 07' 1 Chi M & til P cv 6s loon St Ct" 11 I A Puc fd iooo C'i'4 loimn iii')H , IIIIIIHI l7n 1 una H7i Itimi i'i'i IIIIIM ci' 3 ('n ' non hin 4vii 1 .inon 83 1M1I ,v W Ind IJ Is 1 70(10 oon-, Civil Coppir 6s 3000 S3n, 7U0II S3S 10(100 .. S31)., Cllv of UonWui 611 100V S4 2000 53'', ! 13000 . 53", 1 0000 :,3 , Boon .','', , 2non 53 1 loon ss'i 12000 S3 ! i.'nno 33 innn 534 ' 2000 53', J KCFSsJI Ry is IOOO fiD n ' :oon iIS't Kan C Term Rly Is ' 1000 701, I 2000 . 76 I Kent Cent R R Is iooo .. 75 Iick Steel Co of r.O , inon Ofii U S ft M 8 1s of 31 ' 100,1 8l'i 1 iooo 81 Louis i. A'ashVe, ts 3001) 83 M '"leel fc O Co 5s 10(10 8,114 5000 85'i 10011 85 1 v 10(10 85'4 toon sr.'t, Minn & St I.ouIb 4s ' I oon 3h Mo Kan & Txas Is iooo . 0014 5000 o Mo t'aciltc nil 13 1001) 811 Pacific 79',, Pacnc d 7f) fd 1 icon i'outhern 2000 1000 inon Suutliarn 10000 Southern moo . South Pacific cv 4s 1ono . 80, 5000 80r,', South Pacific uv iu 3000 . . 101 South Rallvvav 4j 5000 5000 3000 10000 3000 inon 1000 iooo looon 4 000 10000 10000 Turin .Mino I nooo 2000 10(1(1 Iooo inon ffnou 15000 Pacific 4s I U S Rubber toon 200(1 (1000 loon 80 so 81 81 l'4 81 xi Vi Sl'.i 81 s'l yt 8IU 81 81 1'i 81 8 1 1,4 xi 14 8 1 1,4 81'i 81 81 Co 88 88 88 88 r, lb3 Kill nlh Advance) Rumely pf. . 7ii 6 AJnx Rubber 80 .. Allls-Clialmcrs fttji 1 Allls-Chalmers pf . .. ny, 3 Am Bank Noto 4 t .. Am Bosch rts 414 .. Am Can S714 7 Am Can Bf 0!4 13 Am Car ft Fdy MIH .80 Am Drucslst ayn 13 . . Am Hide Leather. . . 28 7 Am Tilde & I,eatli pf.HS 1 Am Internat Uorp ...llflH .. Am Linseed 7S . Am Locomotive ,103'4 .. Am Ship & Commerce. 2814 I Am Smelt & Rot M!4 1 Am Smelt & Ret r'...100 8 Am Snuff HOIS 3 Am Steel Foundries... M4 7 Am Steel Fdrles pt. . . 3!4 P7 Am Sugar Ref lsmi ! Am Sumatra Tob 0614 8 Am Tel & Tel n7' Am Tob See. temp ctfs. 71 7 Am Woolen ISS'l .. Am WrltlnB Paper pf. 17 .. Am Zlno Lead & Sm.. 21 'A C Am Zlno it & S pf.... 14 Anacond.i. Copper .... G3H Ayfccts RealUatlou ... SH Ar?o Dry Goods r'2V4 0 Atch- Top Ss Santa Fe. 84?i Atch Top & S I' pf.- 80J4 10 Atl Gulf ft AV I S Si. 171 .50 Baldwin Locomotive.. 12314 .. Baltlmoro Ai Ohio .... 32 14 Balt'mors & Ohio pf.. 48?i 8 Barrett 1-9 .. Batopllaa Mlnlns .... i'A . Bethlehem Motors .... 30 s4 Bethlehem Steel S Bethlehem Steel B.... on? .. Booth Fisheries 1" .. Bkl.v 11 Rapid Transit.. 14U . . Bklj n II T ctfs of dep. R .30 Butte Copper ft 4!nc. . 107 .. Butto itSuperlor Cop. 20 .. Caddo Central OiU. 2S" C California Packing ... 8 .. California Petroleum.. VWx JO Canadian Paclfto 132'4 fi Central Leather 09 H Ccrtaln-teed Prod.... 62 Cerro de Pasco Cop.. 5834 S chandler Motors 127',2 Chesapeake & Ohio... fi f. Chl & Ea-st 111 6ei pf. 4, .. Chl Mil & St Paul.... 37 . Chi Mil & Pt Paul pt. S2'' 7 Chl & Northwestern.. SO5 8 Chl I'ncumatlii Tool.JsWU .. Chl Rock lsl & Pac. 27'i Chl 11 I & Pac 6 Hi". 61 7 Chl 11 I & Pac 7" pf. 71 5 Chl St P Minn & O.. . 6014 7 Chl St P M & O pf. 9'i . Chile Copper 20 3 Chhio Copper , 3',i 6 Cluott Peabodv . . no's Coca-Cola 39'4 3 Colorado Fuel & Iron. 43'4 4 Columb Gaa & nice. . . 67 1 Col Graphophone ... fOU 7 Consolidated Gas .... 82 3 Consolidated Textile.. 30'4 Con Interstate Cal M.. If'a 4 Corn Producta Rcf.. SOU 12 Crucible Sled 217'i .. Cuba, Cane Sugar ... B'i 7 Cuba Cano iusrar pf.. s" 3 l'elaware A. Hudson . 47'fi .. Iicnver & Rio G pt... 13 ,"i 1.11; Horn Coat 2S'i "i Undlcott-Johuson ....14l34 .. C1I9 "li .. UTle tst pf '-0V 8 Famous Playcrs-L ... t 10 Fisher Body J2b',B . . Flsk Rubber 4 ' 4 3 Freeport Texas H" 2 Gaston Wins & Wig... 18 0 General Cigar 72M 8 General Ulectrlo .. ..16S'4 12 General Motors 231 'i 0 General Motors deb.. Sl' 4 Goodr'ch B F 82 7 Goodrich B F pf 101 'a 7 Great Northern pr. .. . 79 4 Clt Northern Ore Ctf3. to'4 ,. Gulf States Steel 3sa 4 Haskell & Barker Car. 60' i 7 Illinois Central 90 Inspiration Con Cop.. 59'a .. lnterboro Con Corp.. l' .. Int Asrlcul Corp pf... 81'2 7 Int Harv pf new 11 .. Int Mer Marine 4, .. Int Mer Marine pf. ..111!! .. International Nickel.. -& ,. International Paper. .. 8ft'j a ttiiri. Pnncr nf htDd.. 78 Iron Troducts Corp.. 4'4 .levvel Tea "' .Ten el Tea pf ! Jones Bros Tea 2 J Julius Kays,cr IL 1M1 tno aliars compaicd ulth lart 71 ii 80 so;; 40 ',i y S614 si4 Ho?4 lti 28 118 It 5 75 li 101U 28!, 6814 09 no Yi 4& , Ki. 13994 85 Vi 97 70M 157 57 21 64 !4 6214 lfA B2V4 S4'4 '8014 168 120 32 18 Ti 12814 IU 29'4 04 97 11 W 13 ?i 8' 10T 28 2li 80 42 131 ?4 98 62 58 Vi l26'4 5.1 4 SOW 62 8 loan 2714 (.1 7t 60 '4 9'4 io; R8a 89 33'a 42 Vi .Vv 59 'r SO Vi 30 19. t'A 215 52 4 8?i 91H 13 25'1 141 13'4 JO'a HO 128Ka 4314 SIT'a IS 72 '4 168 327 84U SO '4 lOl'a 7V 33 ,4 13 601-i 90 .i8T 4 SI'j 114 47 t!0',i 25 M UK 78 48 'A 2or iVA 28 115 770,300 Today's Nat Clone unite. 7U'4 Vi 801 51 - ' 9114 14 4.614 Va 414- 14 5B14 H 8914 14 141H Hi 11J4 .. 28 H 118 - I 115 - 14 75S8 W 101 A 14 38 VI 1 90 W 11014- 14 ,145 14 0314 114 13874 W 95 14 14 9714 .. 70 4- V 15914 ... 57 2t 4014 .. 3 - U A'A- 4 6314 !4 8414 .. 8014 14 108 - 2 12014 ' 32 - 14 48 J4 1- 5i 138 ?4 14 tn - 3914 14 94 - 14 97i- 3 t4 11 14 14 814- 10J4- 2814 14 24J4 - 14 80 4- 14 43 M- !4 131 ?4 - 14 98 - 14 63 4- 5 84 14 12714 114 65 - li 454- H 77 H 62 - 14 86H- 14 10394- H4 3714 14 61 71 - ", 6014 '-'4 9014 r 8'4 19?4 Is 30 - H 9914 114 3814 14 1214- lil 6594 I sas4 - 14 t.014- 214 1 3014-1 14 1 1914- V4 85 Vi - " 2l5!o- lsl 5214 1- '4 I ts44 V 'i 9414 1 114 I 13 - 14 I 2.V4 - I 141 - Vi I 1314 Vi 2014- ?a f OH - i 12814- 1 14 43 '4- 94i 3314 I ?4 18 f '4 7314- '4 I 168 - 14 ! 327 - t Hr5- Hi SO' J- ', loi h, "i 7 8 "a 1 la 4(1 -I li 60!-; r I'j 90 I I a 58'i- 1, 4!', 8114- '4 Hi !4 47V4 . ill 94 2.194 . . M94 !4 78 94 49 -r Hi 30T4- 'a ii n 214 IfS. - '2 115 - 2 Sales In Dlv. IMrh 100 .. Kan City SoutlicniL,. 1514 400 4 Kclly-Spg Tire 147 700 3 Kannecott Copper ... 31J4 810 1.20 Keystone Tire & Hub. . 4iJi 3300 6 Lackawanna Steel ... 8814 50 .. Lee Rubber A Tiro.... 3714 200 3.50 Lohlgh Valley 14 100 17 Liggett & Mycra Tob.. 207 409 .. Loft Corp 3614 100 7 Louisville & Na8livllle,t!114 100 .. Manall Sugar pf...... 101 300 .. Maxwell Motor 3114 100 .. Maxwell Mot ctfs.... 31 100 .. Maxwell Mot 1st pf... 0294 300 .. Maxwell Mot' 2d pf. .. 3014 100 .. Max Mot 2d pf ctfs.. 3014 800 7 May Dept Stores 120 12000 lo Mexican Petroleum. ..214(4 500 2 Miami Copper 2414 5500 l.2i Middle States Corp... 6614 Mldvalo Steel & Ord.. 39A Missouri Paelfla 35(4 Mi&sourl Pacific pf... 4114 Mulllns Body 181i Nat Anlllno & Cliem.. 67 Nat Conduit & Cable. 11 Nat Knam & Stamp.. 84 Vi Nat Hnam & St pf. ..10214 National Lead R34 Nat R R of Mex 2d pf. 6(4 New York Air Brako. 11294 New York Central ... 69 Ji New Torlc Dock 4814 New York Ont & W. . . 16(4 Norfolk & Western... 88(4 North American 5094 Northern Paclflo SO'A Nova Scotia 3 ft C...7514 Ohio Cities Gaa 4814 Otis Steel 3914 Okla Prod & Itel" OH Paclflo Mall 3794 Pan-Amer Petrol & T. 103 14 Pan-Auier (B) 9094 Parish A. Bingham. ... 45 Pennsylvania R R.... 4314 Penn Seaboard Steel.. 33 Tcoples Gas Chicago. 3894 Pern Marquette 31 Philadelphia Co 4214 Plerce-Airow Motor .. 7714 Pierce Oil S3 14 Pierce Oil pf 88 Pittsburgh Coal of Pa. 63 Pittsburgh & "W Va.. 3794 Pond Creek Coal .... 25 Vi Pressed Steel Car 10194 Punla Alcgre Sugar . . 01 Ray Consolidated Cop. 23 4600 4 400 .. 300 . . 500 3 900 ,. too 3000 6 100 7 400 5 j 590 500 10 300 6 1000 2.50 200 1 400 7 300 5 000 7 1300 A 20 00 4 100 .. 3000 .50 100 1 7500 700 200 3 2200 3 100 200 . . 1100 .. 10000 3 3200 3700 1200 8 600 fi 200 100 1 900 8 1500 1000 2 3000 8 so 7 : 300 8 300 4 25039 8 110 4009 8.70 1500 100 300 1 10200 200 1500 6400 lloo r. 2800 6 1200 310 4 680S 7 100 3 500 1900 100 500 6 26600 1300 800 10 2300 3100 100 4' 2500 3 200 300 700 2 4430 8 10100 8 8030 8 300 8 300 6 100 3.50 18S00 ." 100 600 iooo 300 100 190 100 200 100 200 100 1300 12800 300 3 100 share's fitcrdav Railway Steel Spring. 102 Rvvy Steel Spring pt..l0S Remington Typewrit. Reading Republic Iron & Steel Republic I & S rts Royal Dutch N T... M li Ran Francisco. Pt li Pan Fran pf. . . Nt Joseph Lead Saxon Motor Seaboard Air Line . . Shell Trans Trading. Sinclair Consol Oil . . Sloss Sheff S & I.... Southern Pacific .... Southern Railway .. Htronibcrg Carb . . . . Htudebaker Superior Steel Tcnn Cop & Cliem... Texas Co Texas & Paclflo Tobacco Products . . . Transcontinental Oil. Union Oil Union Pacific Un Ry Investment... Un Ry Invest pf 4 United Alloy Steel .. United Retail Storee. USC1P& Fdry... U S Express U S Food Products.. U S Ind Alcohol U S Realty ft Imp... U S Rqbber U S Rubber 1st pf., U. S Smelt & Ref . . 50 U S Smelt . Ret pf . . U S Steel I' S Steel pf , Utah Copper ' a-Carollna, Cliem.... . Vanadium Corp . Wabash Wells Fargo Uxp Western Maryland. .. . 7 Western Union Tel. . , 4 Western Paclflo pf 7 Westlughouso A Br.. 4 Westlnghouse K & M. , .. Wheeling & L Erie.., 4 White Motor 1 Willys-Overland ..... 5 Wllsoa & Co .. Worthlngton Pump... 3S3 300 . 01(4 . 7614 .12094 ,. 1 .105(4 . 171a 24 '-4 . 1694 . 2094 . 7 . 8514 . 4694 . 7794 .10314 2214 '. 80i .110 . 49 . lt'4 .221 li . 10'a . U3!i . C2 . 37 14 .123 '4 . 13Ta . 2814 . 5014 9H . 23 Vi . 31 . 73 94 .115 . 559, .1369 ,.lt . . 73 . 4034 , .1071 ,,115'4 , . 77 . . 70 .. 5594 .. 814 . . 5314 . . 1114 . . 88 . . 6314 ..110 . . o3'i . . 12 3i .. C314 . . 3st .. 7814 . . 9394 Low 1514 140 3tK 14 80(4 37 41 207 20 1U14 101 33(4 31 6394 30)4 non 125 200 2114 65 sin 2514 4114 48 n 66 n ii 394 103 n 8194 n HI 69T4 4514 i n 08V4 55 7094 72. 48 3914 094 3794 ioi n 0894 44J4 42 33Ji 384 37 94 H94 70 2114 8014 C2 27 Vi 2514 9914 93 32 99 Ve 100 01 7014 117 1H 104 14 17 24 '4 10H 1094 7 '8414 4694 76', 10214 22(4 SOVi 108 n 49 1H4 40H 93 3014 3614 123 H 13 27 60 394 23 n 31 7514 11214 6314 1231 115-y, Cloao Chire Today's Net 16J4- 94 146 - 3His- 114 87 -37 44 - 207 son 111 (4 ioi - 3414 H4 31 6394 30(4 3014 120 200 - 24(4-6594- i n 2514 i 41(4 48 n 60 n II 84 102 n 8394 0V4- 11294 S9J4 14 6094 7914" -3914 994 3894- 10114 99 -1414 4214 32 14 3894 31 4294 7714 l!4 (4 94 fi n '4 n n 94 (4 '94 14 m 14 n 14. 14 214 Vi 14 !4 "(4 (4 l 94 194 H4 2194 r 97!i-t 62 37(4 2514 10094 I 03 23 V 100 14 V 106 91 7Kli 11794 ti wn- 1714 24(4 1694 20 7 V 103 li . 2211 J- PHILADELPHIA CO. ISSUES LOCAL MARKET FEATURE Substantial Recoveries Made This Week by All the Lcadi, Local Stocks From Recent Low Level The week wound up with a show of rronounced strength in a number of the local stocks. 'Xho Philadelphia Co. issues were the outstanding features, with tho common advancing ! to 429s and the cumulative' preferred to 3Ji The movement was easily associated with the strength of the samo stocks iu the New York the last week. The trading in the general local list was fairly active for ft halt holiday, und in most cases, where price changes wore made, further substantial im provement was recorded. The dealings likewise were well distributed with a number of local stocks long neglected showing signs of widening interest. Notable in this connection was Ken tucky Securities, preferred, which was well taken nt fil. .7. O. Brill brought the samo quotation, or an advance of $1 from the previous sale. Continued good buying was noted in Pennsylvuni'i Itallroad, Lehigh Valley and United Gas Improvement, the last named closing within Y of the high price of the week. Philadelphia Uapid Transit declined to 2? on small sales despite the declaration of the regular semi-annual dividend of .$1.2."). Fnlon Traction was tinchnuged nt 30. Electric Stoingo advanced to 13(5, but lost $1 of the gain. York Railways was SI. 23 higher than the last sale, at 0V.. The week's developments in the locnl market were highly encouraging, both iu the point of price improvement and in the character of the trading. The betterment, of course, came in for morn notice because of the unsettled stato of the New York market, nnd the accept able handicap of the stringent money market conditions. While the prominent stocks in the larger market swung to and fro with out auy decided tendency, there was n moderate but comprehensive upward swing iu the local issues. At the close of the week 'the leading local shares were from 1 to 10 points above the final quotations of last Saturday. The nverago gain was between IVi and 2 with the lov('-water mark established in the closing weeks of Inst Tear the rren.vr.rr .n ........ . TfUi?ftid' raonP the more strlkipgP"il United Gas Improvement. 15? touched 37. as aealnat Knit . ViM cembcr 20. which included toe SI mi!'1 tcrly dividend paid la the TntMhl1 Ph Indelnliln ThWrnl,. li ...il Jnte?". sold this week at 23, ngainst 4 1, December. Union Traction readied i against Its low of 33. Pmnw Salt at 70 was $0 above, the low wl ot December. American Gas. wS rMH nt .13 In 4, .ftJ Jl.,.' , W5!W w. -w .... ... .... .1...V.U14 net'K in n., cembor, reached C0',4. PhlladehM aracuon, ai cks, snowed a recovers ii are shown, indicating not onlv I ?!?' mighty liquidated condition of the mat kct, but also demonstrating investor! were taking advantage of the abnormti' low prices at. which many of the m. soned divldcud-paylng stocks have dcb selling. Speaking ot improvement, notMtn in recent years has been niore gratify, Ing that the recent gradual odvaocist movement in the Philadelphia Co. it sues and kindred securities. Since tte prominent New York financial inter. ests associated tiicmselvcs with the property, there. has been a signl6eant accumulation of all the comnanv's .... ciiritlcs, including those of the PacSo coasr properties, omce moaern buii- nrssiiKo mumotiH were appuea In con ducting the operations of the com pany, the earnings, tit is understood have been increasing at a gratifjitr rate. They are said to be running about 10 per cent on the common stock after deductions for dividends on the pre ferred. There nlso has been good bill ing yesterday of Philadelphia Co. con vertible 5 per cent bonds. Currently selling around 8S, these bonds, which fall due May 1, 1022, yield about 10ft per cent. There are $0,704,600 cut-; standing. They are redeemable, at 102 nnd interest on any Interest date upon forty-five dass' notice. The eon. vortible feature provides that they marl De converted into o per cent cumula tive preferred stock at auy time prior to mnturuy. i lie nonas are tax empt in Pennsylvania. NEW YORK BANK STATEMENT 94 Tiui frfr till-- vveru IB?, ttO'.i 1t.ii 77 a 69', J5'4 814 5314 1H4 88 C3 117 f.1V4 1294 12 Vs ::o 78 SS14 o period 8094 los(4 49 1114- 210 40 ': 0314 Si 94 la V 27(4 1 60(4 8394 23 n - 31 - 75'i-11294- 631',- i::3'4 -11594- 73 (- 1 Iti? ' 1C8I4- 11514 I ' 772 ', SOf'a- V 514 4- 9 !a 6314- 9 llli -I- V 88 1 63!',- J 119 3Ji 129 . (V- 9 2H4 r H 7814 r H S8J4- 1 lant week - 4 H 14 H, Hi l'i Vi Clearing House Institutions Show a Deficit of $2,912,680 In Reserve New York, Jan. 10. Today's bank statement was an unpleasant surprise showing a deficit in renorvc of $2,012, 0S0. In view of the determined action of the Federal Iteservc Bank officials to strengthen tho reserve posit iou of the Federal institution. : corresponding weakening of the Clearing House banks' position was n foregone conclusion, inns-much as tho betterment in tho pre tiding weeks wab made Inrgelj nt the expense of the Federal institution. The statement showed 11 reduction in the. reserve in the Federal Iteservc Rank of 503,202.000, with 11 correspond ing contraction in loans of $22,3711,000. Despite reduced liabilities through the decrease of $4(1,773,000 iu demand de posits, the excess reserve wat out $37. 301,000, theieby wiping out the surplus above legal requirements and leaving an actual delicil of ?2,012,OSO.. Details loliovv: AVI3RAGE 5. 300,008,000 REALIZING PUTS END TO RISE IN COTTON Southern Hedge Selling Also Factor in Checking Up ward Trend in Prices Philadelphia Stocks 5s COTTON" RKLT WEATHER rn DITIONS w VrU. Jan in -The foiinv Ins tern ....., . unps ifffirap in mi inu'm 11.1. MAinlnv r lit! all nnil ( 'll.v l-iti. ei l.itt'e rt.ik Memnhla. vllle anil Atlanta lannnna. 30 Vich6iire nl Km t Ni-ii- Meridian and t hnl Vhllriie Shreveprtrt Hn'l Maenn ami Jlnntsemerv n, . ...In..'.. 1'r.nvMi.nlt, aim .AUU'n iV. 'vw Wri.ani ind Thorn iv llle. 3. .'....'.j rhrlall in,l lliilvnelnn. Ah Sav, ,,u iv- cliarle.iton nnil WIlmhiBlun .lai-ktnnvllle .'' ami TsnpJ '.Ileh 20 Am .At ill. 8U 100 Urill ,T G 31 370 El Stor..l3S 000 Ken Sec pref ... 31 3 Key Tel. 12 '130 Lk S Cor iil"i 30 I.eh Val. -HV't 1114 Pa It It. 42 if. HOPliila Co. 42s S72 do c'm pf 30M, 337 Phil F.lec 23r'ii 183 P H T tc 273, 200 Ton Min. '.:'... 30 TTn Tract 30 li 133 TJ G I. Net I.ov Close chKr su. sy. 'i 31 31 1 GO'A 137 -I- 31 31 . . 12 12 V; 211-i SMC. rs 437', 4414 1, 42 ls 42VH- l 42 12 ! 33 1 s 3d a: 233 2r,"-L.. DROP IN CORN PRICES ON LESSENED DEMAND Covering on the Break Brought About Partial Recovery. Oats Quiet Tnrreawe $03,710,000 37 112 103.000 .902.00(1 l.OSJ.OOO 105,000 1 02.01)0 1 3.111,00(1 BOO, 310 0110 2.4lt,00O 12,00!) 000 12.21S OOO f,s!3.l)17,nOI 301, 174.2110 'JO 142.740 110,000 111,000 710.000 7SS.7SH 3,034 70 I nan Net demand nniltB . . tl 170,0.11.000 Net time deposits 2S3.471.00O cireuutton . , . Cash In vaults rieaervo In rod'l Itcfaervo banka. . Reservo in state banks nnd trust companies . . . Reserve In state banka and trut company deposi tories Airffreg:atc rei've Reserve required r.,...a ... ... tL'nlted .States deposits deducted. $313, 773 000. llicre.is- ALTUVI. Loans . ..$3,331,197,000 Net rlems-lld do- noMtH tl, 113.1182.000 N. t (.itno de- pojits rimilatlon Clfill In Miulls Reserve In 1 cd ei.vl Res banks Reserve In atalt' hanks and trust companl"? . Resent" In stale hanks and trust company deposi tories Acrressate reserve Reserve required Dttlelt .... tUnlted Mtatcs r,03 000. Decrease. T,ANKS f22 tn,' iTf.ooo 73.000 230, IIS, 000 fill OJO.UOII I11,03'I,00H 0 on oon 7.000 2. 1I.1S, OOO ,1'J.I 072 000 H3,2')2,00O 11.322 000 11.125,000 ritK.nio.ooo 6.10, 031, nso 2.11 J, 'le'S 209.0(10 113, SMI, OOO li, 107, 3211 SY.U'.M.IISII STEEL BOOKINGS LARGER 1 Corporation Reports Unfilled Order, for 8,265,366 Tons New York, Jan. 10. In Us montMjfl statement Issued at noon today, uw United States Steel Corporation feporbB unfilled orders on its books, as of De ecmbcr 31 last, of 8,203,360 tons. Tim compares with 7,128,330 tons on No ember 20 lost, an Increase of 1,137, 1)30 tons, and with 7,370,132 tons on December 31, lOlfi. This is the seventh consecutive monthB to show an increase. The figures 611 November 20 were 7.128,330, and October 31 0.472.008. Today's figures bring the amount od unfilled business to the highest liguia since Uctohcr oi luia, wucu it was B, 333,203 Ions. Comparisous. of.unGllcd tounagc ftn the tenth of each month since 1012 tob i"" , ..j ...... 1 1 1B1'5 0.937.7B1 1U10. U,s;S.55jJ lull) 11,331004 8,.SS,06 7 UJ2.1C 7 SUtt.l 7.189.48)1 6.1113.431 6.317,01(1 4.008.41J 4,020.34(1 4. 678,11 1 4,204,Stj 4,lli2,21l! 4,263,74'). 1..T49.37U 4,248,073 .-).f-36.13J 1014. 3.324.M lilt. 3.4S1.0ir; lOlt. 3,7S7,6SI 1914 4,21.1,851 1014.' 4.J58 5S1 am i.032.eii 3,iro :' 4 277.M' 4.0.11 S"' R.OSS 4)1 4 ess KM 4 300.147 4 sn.Ttn ri.rion.78t. 1013. n.2:3.46l! lnia, H.S03.3W 1013. s,so7.sr. 1013. R.324.3X 1013. B.9TS.7KI 1013. 7,4S.HSS 1013. 7.S1H.7141 1013. 7,S27,3M deposlta 'deducted, $302 -1 "s 3(1 U 30 7 4 ROW., 23 IU S Stl.107' 107'n 107l4- 233 York Itj ,.j ni., el I' is Kiubuer " 70110 SOOD -(1110 2(11111 ' Southern ' iooo I lovoo 1 bi 1, I J IOOO JOdll 2(100 St I, A. 200(1 1 St 1. & leooo .-V I, A. tO'lll 1 St flitsv, 00.14 HO'... fiOlj Illvvy 5s Sfle,, 80", bo My tj 7h i- I mouo 1000 5000 20011 10011 1I1UII 3SI, r.svii ftR'i r.s, RS'a San I 'Van in . . 12'i. ban Fran aj 58174 ."an Fran A ,1S"H !., fk San Fran B 3U00 . 7(1(1', 2U0O 7(l'1i 10U0 70 St I. . Ho West cr, tnoo r.l M l'& K c 3 1, H.ts 1000 . . 00 is Texns f-oinpany Cs sono 10314 jnoo (issjij 1000 IOOO U s sttel 100') 2000 loooo . IOOO 301100 1000 UlHl! P iooo iooo Virginia 1000 Webl Xl.'iryUiid 43 3000 .'. 51 WiV I, l.'rlo Uv H4a 6000 . no Wilson Company cv sooo . so 2000 no 1000 . no Wilou (.'omiMtiy 1st iooo SH 2000 lis Wisconsin Cent 1000(1 103 P. Co 6s IflR 1().", Corp 5a oo'i 00", 'A 30 '4 OSi', 0!) l.'o Bs si 83',i I'.Iwu.vs Cs OJ There ;.,, 1! Ineh of nre. Inttation nt .MlBllata .14 at Thnmasvll'e 1(1 nt Snannah and .IS 31 i. naricii' n Now York. .Ian. 1(1 The tipvvard trend of cotton prkei was checked aroui.d 11 o'clock today by local' realw ins and moderate southern hedsf sell ins. vvhicli found a lessened demand nftcr the carlv lni.vinK 11:111 i'm ii-cii Prices (iceoidinlv reacted ,ir,ints fiom Hie tup. but H do pref. 32 32 Ol'. 4 lo l'i N'et rhalice made bv conip irlson villi last i sail rn New York Stock i:clianae Total Kales S0RS shares compared villi 0010 shares jesterd.iv Thus far (his vverk j 10 "!i7. Same period lust v eek 110 0.1'J llbont 20 even at the tback, trudir- found H" uniieriniic 01 tlm market to he sin -tciul.v va little presMirr S-les in ntlM'S $1000 IllBh 1,0 I I.eh Val 0,.102'i 10: 3 0-20 T.ib llonds 1th 'I'ts. 02. 3S 1 Vic l-'is... 00 s Pn sen 3s. 02", 1 Phila i:icc 1st 3s ... 01 77 Un lty lnv Vet I lne r hee "1 102',- 1... 02.3S 00 II !.3S- V"t rlnS' I"". 1K. vi in h : Mi: J;; and then fur ehiii'1 ncioiinl Tnn op. 1 llic'l I. " ;, ,'S 13 3s 4s 37 SO ;r, :k. ki iu 07 :in 01 is 31 :r, 31 1.1 31 3J 13 3". ill) '13.71 32 flu 03 31 10 31 27 30 r) .is Totl! $34 1.10 yesterday Thus Same period lai 70 '17 t" 1 no compared with far this week. nsi n.lu vicsIm $1 73 11.10 00 37 so 50 117 " 1.1 5 1 K ' 0 1 33 11(1 'i ''.. 30 .1(1 ' 1 0.1 NEW YORK COFFEE MARKET New York. Ian. 1". -Coffee prires were lower thin muruiuir. ilvclinins 22 to 30 points. March opened nl 1ii."ic and sold off 011 tlm call tn lll.ll."n. (lie 1 nffeiine'4 fonilnp; truni n lnoker s-oii-liipclrd with I!i'37ilinn inlci-c-ts. Is (1!) The Ml c of J.id.HIHI jestenlay by the Sm incut was ciinfltiui'd ll'is imnoi'ters took the 1 offce FOREIGN EXCHANGE 1 New York. ,Iau. III. At the openins , of the fortiRli CM'lifiuse market tnil.ij . the only notable clinngo in rates vvcci 1 in francs, vvhicli slioweil 11 gain of 2 eenlimen, and in ISclgiun rchanKe, which favorably retlceteil the loan nesnlialioiH. '1'he market was dull, sterllnj; beins 'steady at "esterday's c'o'.iii!; 1 (Quotations were : 1 Demand fcterliiiK 3 73'.... '3.74l'i: franc i.ihlev 11.10. (able-, checks 1.", 12: ulliler National Tube 1: is 1100 OS'i N O Tex & Me Is 1000 OITa N' O Tex A Me 0s lull') !(," M V C & U It It ZVa "000 711 . II IJ U 4s si & ti it r: ct fl2i: . 03 .t fet i, n is fn'a! J7 072 000 compared v ,ih nr..' (100 naterda.v Thus far this ;si sun o'sl rsamc period laBt svk, 121 nou I " VI' I IOOO I V V ' I 1(100 1 1000 N V 'J 1 100(1 , N V I "0(1 I 30QO N Y Dfli iSOOU .l44-iw?ni.i rr.nii lllKh I. ib llonds 3i..s... '.Hi.Mi l.il Ikinds 1st t.. 03. (Ml Lib Ponds 2d" Is... 01.02 th lionl- l-t 1'i-s 03 30 l.lb llonds 2d t'is u-j 10 Lib llonds 3d l'i- Ol.." 1,1b llonds- lih I'ts 02.0(1 Victorv Notes 3'Iik OH (10 Vielocj Notes 4-ltS OO.tlt l.nw 00.30 02.00 01.00 03.00 02 31 01.3S 02.32 0VIIS 0S.O2 $14 - H . .!( $130 ripse 00,30 H2.1Mt 01.02 03 IS 02 10 01.10 02.30 0.0S ilS.MS 'Val del Nov llec Jan . Kcb. . Af lei April ,'.(,, . .lune Jul. AUI'J1- Onen 10 311 MiT'i Ifi 3,1 baps of coffee , 11,12: lice cables 13.10. checks P1111I1, llnvcru- iSv.iss Ciibles 3.00, (hock- 3.00; nioitiius. IjjcjI 1 cables 3i W,, checks .le'c : pesetas table I 111 13. cheiks 10.03: Stockholm cables vest 'Jl.'JO. cliccss -i.u.i; v 111 isiinniR cahlc, Low in 111 111 ml iooo HI (Is 1 0 Ml m in K. so 10 to II. Ill 1 In 111 III . 1 n 0 1 1.- 1.7 10 On 1.1 '10 1.1 70 ir 01 tn mi in 13 in "n 111 27 1 (i :i 1 Is! 22 111 11; 111 :m in ii C J ', 7 si Co 4s 07 .V II CS The averaee price of twenty active Industrial slocks declined 0.03 per cent yesterday to 100.30, while twenty rnih loude declined 0.03 pet' cent to 7500, I ff MONEY-LENDING RATES 'IllIAl)i:i.l'lll lull. 0 per cent , lime. 0 per cent , coniinercial paper, tin-PC to sh months, W-h per rent, ami monins, .i -m" i-i n-i. 110.00, checks 10. i.i ; Cniienhasen cables ii' 14110.13. cIkcI.s IS; Kelpian cables 11.0(1, ot 30 cheeks il;0S; Austri.in kronen , ; "Jllllblc holes .'Oils. 2.30; 100, :!,,-,. J!!1.?1 In the final denlincs. .stcrlini; rallie.l in iki'"i "f 11 cent from tlm iipcnins liguies lo in .is .'J. 73 for i ablcs and 3.7l'i for demand. JJ 1,'J rrnncs were easier ill II II fur rubles 11)112 1 and 11.10 for cliecks 1 ,i - were on- chnn;:cd nl In. in 1 ne 1. ililes mid 13.12 for checks Mink 1 ablcs I 0!l. 1 hei ,s 1 ,0S. LONDON per cent, ftli, per rrtlll, Money it quoted -nt 3'v UlSCfUinl rates, short bills. PiiU". cent; tlirce-moulli bills, U ?., ,'urh ClUceiK ceaiii. BANK CLEARINGS tuo.irei) H,tli nir lula $10,1(10.112 $l0 7li3 0n il8..1li'.l 511 7I.13S17S III .-,('.11.(111 r.aii,.!ii 014 11,0, 17S (12f,,lllJI,Sfl(l CSI, I&7 )JU 13,11)1.877 11.3lri.V38 A... . Vtf.3T9.D3 77,2U,U1S ... Hani: dearlngs tndtv. 1 resnundhlii: clav lawt tuo i in." 1U11I Cliiraqii. .Ian 10. The coin m.nket (onlintied unsettled Ibis mnrniiiE. There was scattered selliuR by commission I houses at the outset and ns the demand .was poor prices suffered further losses. iu the break some covering by shorts brought about a partial recovery, which, was followed by a second setback on renewed sellinc; bv commission concerns. Receipts remained small, nmountiuE to only 133 cars. The conservative ele ment wan latitluiis about tak'uiR risks. .Iiinutir opened at SI. 40 to $1.30 and. iifter moviiiR up lo ,v esterday's last prire nf SI. 101 1. !jgK(il lo SI ,3!l. Ma.v npened a 1 Sl.sriVi to .S1.3PV,.. asninst M..",."1, nt the end jestcrdny, nnd later mid al Sl.3"'s. duly started at S1.33', to SI. 33 and declined to S1.321.J. . Oats were quiet and the market re ceded after a steady s(.rt. Local pit' lenders were tlm professional was bii cr 011 tile setback. Demand for im P'iiI was less active. Receipts here tnditv were 103 ears. Ma.v opened ul Sic to Mlio against Mr at the end yesterday, and dei'lined lo 'sliVsi1. .Inly started at Ui' lower, ul 77'c, and, after touching 77:;sc. sold oil'. Receipts of wheat here today were 30 (urs:-nt Minneapolis 1!)3 cars: at Diilutli 7 (iirs tuiil Winnipeg 10S cars. STATE OF TRADE Increasing prices have been the prod net of the hist week of the new year, Willi no evidence pointing to u dcclini in living 1 osts. The wide spread of o traiiigauee 111 buying is pointed to us fin mm hole: nine nnd undesiiable ele ment in trade (unditions. Pun's Review says: "The fust full week of the new year, ns was not uiinnccted, passed 'with many of Hie fculm-rn thill liml made lilRI 11 notable (coiioiuic period slill con spicuously pieeent. (icueral pr'u e leu di'imii's liuve rcllecled no dnpiirliirp from the upward swing which lias long lieen ill pni'jicss, lliin'i li of wlintcviile UUiiti'l Inns iiRiuii disclosing tic now fiiiniliiit ill ;i 1 111 ( c l'i-1 ii- . und i'.m'Iii 1 1 cskcnlinl coiiimoiliife- thin hail cxpr'ri -eiiced viildiiig, -ijcli us hides, luivc to spiuidcd promptly In tlm ie cnlry of im purtiint buyers Into the markets, or to other supporting influences, and me now distinctly firmer Annual commercial reviews, although placing piirliculur em phasis 011 tlie eu'eptlounl aetlvllles uud UChiGVCinrttH of 1010. Illlvc mil fnlle.l o reinarK tho effect on prlce of (lie f Widespread estravPBance in buliif." hank 1ians , (Jold ... Currency notes . . ... Deposits I eo eral Receive Hank ot New York .... tiepovlta , Jtsservo on de posit . Perrentape ot Reserve .t7ns.r.40..'i(io r,,so,l00 37.005 300 7 t .10(1 snfl D0O 731. 4U0 112, 1110,100 "21 S "70,000 237. tOO 731.300 2 OIO 00 2.1 011,700 110,100 TRUST COMPANIES 171. 700 732. 100 8,031 400 12.200 Tians . -'-JH (old . I n. Currency bank notes - Prposlts red eral Ileser u Dank of N V rinri.4tt!i ncrp on ric lprccntapo or r(-ifr . ... r. a VT-1 tvn TntlST N-I.T UV PUllTINCi'l o i-i,i:AniNO iiousr; 21 U7.fi0(i "22. 7.11. W'O 2 301,81)7,000 311.113 200 17. R 100 P. 731.000 13,221,100 777.70(1 .l I o.nr ANIIIS $S23,7sS.r.0ll 1 'Lis, (111, 1.0301 lllllll . . . Ctinency banl. notes . lepii'll I "1 erol Reservo Rank of N Total ilppsihlls. Net deposits Reper' e n,v deposit Pcrieutngo or reserve - Uecrcase " Maleritil advances $11.30' (.00 11,300 10 000 700 71 0.10,300 001,770.800 S27.12l.10O ISO HIS, 200 21 1 011.000 1 .12.1.300 i.nni.noo 1,811,0110 1 223.000 in Hie pi'iie of corn Ibis week have sprung largely trom milookeil for haltin? of supplies from farms. Compared with n week ago, tin ivinrkrt this innrnln" was up Ul,e to 3isc. Oats gained TC;o to 1c. and pro visions 00c to SI. 03. Mutltll ill-- Toil" Maj', ism., 1010 7,128,330 Apr., mm. ii. ii.biis .vim., tl'lli. (l.'JMI.d.lS Keb , ltilll (1,109,103 Jau , 1010 B.37s..'im Dec , Hill) I.SOJ.SJSNov., 1011). 4.'.S2.aiu Oct . 1011). 4.300.B15 Sept. IOU) .1,430,072 Aux, 1010. (I.O10.7S7 Jul'. 1013. 0.034,208 June. 1018. 7,370,132 Jlay, lOtS. 8,124,603 Apr , 101S. 8,853,233 Mch.. JD1S. 8.2D7.00B Teh, 1918. 8,780,012 Jl-n . 11118. S,01S,8(lDec, 1D1K. 8,337. (US NOV., IMS. 8,711.882 Oct . 101H. 0,05l,,40n Sept. U)1S. 0.2RS,433 Auu., I'llN. 0. 477. S.13 July, 1017 ,38l.71H June. 1317. 8,397, ion May, 1017 f), 01)0,073 rr III 17. 0,833, 177Meh 1017,10 107,0 It) Feb , l'H7 i0.stl.1ni Ian ini7.ii.:iR.'i.2S7rec 1317 11.RSn.S01 Nov 1017 12.l83,ll831ct . 1017.11 711,fi44ept 11117.11, 37(1. A97AUC, 1917.1l,474,or4tuly, im.ii,n47,2sniune, 10in,11,ori8,S42May, 101fi.10.016.2004.pr , 1010. n,S22,ri84Mch,, 10m. i itno 3.i7reb., 101S, 0.303, 392 Jan , 191H. 9,6i0.4B8 Unfilled orders on the corporation 1 hooks at tho end of each quarter smM March 31, 1007, were as follows Quarter endlnr Quarter endlnsr nit. bept Auu. .))., June, Ma. Apr, Mcll , Feb., Jan , Dec, Nov., Out., Sept. Aug., June, Jlay. Apr , Mcll , I'eb.. Ian , Dec , N' v . Hi t Sept Alls , I III.', June, Mav, nr Mcll , l"eh., Jnn . 1 Doc, Nov., (let . S.en'. Auk,, July. June. 1016 1910 11)13 l'Jlo IMS 1913. 1015. 1913. 1015. 1013. 1915. 1015. 1915. 1915. 1914 1914 1014 1011. 1014 1911 1013 1913 1913 101.1 with June, Hell., Die , Sent. June, Mill Dee , Kept lune, Meh,, Dec , Sept (line, Meh , Dec , Sept. lune. Men, . Dec , ert. lune Meh., llr , Sept. tijn Tons vltll 4.S0J.8.13 Weill , 1013 3,430.572 De., 7.370 132 Sept 8,297,905 June, fl.OIS.fimi Meh . li.nr.ii, ion Dec , P.381. 71S Sept. 0.833,(77 June. II 383 2S7 Itch 1917 11.711,(144 Dec . 1917 11.547 2KB Sept mill. -0.322.BST June, 1II1II, fl.ll40,4,-,S Mcll ri.3il.oni Dee , 7.ROII.22I) Kept, 5 317 nis June t.r,7S,1f)0 Jtrh I "S-, -l tlfC. 3,830,0(3 Sept .1 77 ml7 June i.e.'!" st Meh 4.633, 825 'line. 4 .un is Meh ,1.00.1.781 sent 5 0T 317 D c. 11)15. 191!) mis. IMS mis mis 1017. 1917. ion mis 1913, 101.1. tnir, mi.i. 1914. mu. mm mil. mn. 101.1 1913 Tnsa 7.401.8511 1912. 7.933,14B . n. rt e r.i Kft'H llli. II, !. U Ii,MI7.3"a r .104 sin 5.0S4 mi n (iii..iir 3 31.il5S 3 447.1s1! 2.r,47,W .1 138.10! 4.2S7.7H 5,402 H4 5.027,(131 4.73(1.831 1 057.1W .542W -..(101 M7T n .tH.M'M 1.7(W.S4l 7 S0.M1 8 04.1 e.v-1 R 4".-fillfI 4 AM 3931 191 1012. 1911 19lt 1911. mn 1010 1910. 1910 1914 1909 1909 lift"), 1009 tool 190S 1901 moe 1007 1907 1907 1107 Reserve Banks' Discount Rates The first column give" rat's fv ail tiet-lnilu ti,. In nml Inclndlne- A. HfterQ lav maturitv . tho second for a neriod of sixteen to ninety days. The third an(i fourth columns give the rates for dti eounts of colhitcrial loans rorured bj government bonds or note. Cotn'l paper 16 tn vis Hnftnn v-n- Verk . rni'lerlelnhla . . Richmond . . . ('iveiind . . . . At'enta .. r'hleago ..,, i 1 ,,ii J'lnneqpilis i'',ins City frnreiseo 13 llaya daa 4H I" t: At, ; 4 'i tv, 41. I'l 4", 4r' 1" .I"', 4"! !' 4V, l'i 1". l' t" J' 44 445 I't no t"r;rl 10 (ofii1! 15 "IV 3 CSV "I - I l'i I Cl IB n "s ' r., I'. ' l'i 4 STATEMENT OF THE KENSINGTON TRUST COMPANY Kensington Avenue and Allegheny Avenue nt the rinse i,f liiiblnrns Deeeinlirr 31, 1019 RESOURdES 1 ash on band nnd In l,t,i,; M.7GJ.I7U.01 l,o;iici and liivcstiiirnts. . 1,211,801.72 llonds .Hid Hlock Owned Pv foiniMiiy, Includ- li I.IUil.v Itonils . 2,302,393 37 Morlfe-ugi Uwued by , fouipaii" 221) GilO 00 Hnnl. Iluilsllit; . . 103,101 t!7, Jli.iellaii' nil." AHSftH 2,118.03 LIABILITIES CipiUI . Surplus I'uijlvldeil ProOla . Dividend Payable Dccrm l?c :;. u:i . fertlllril Checks Mlt.colliincuuii l.ialiilitie Liberty I'.ouds (CU1I1 I'lilli) .... Deposits .' . . :oo 00000 200,000.00 si :o:'.:i f! 000 00 3.876.83 3(1.301 15 15,84100 1 053 2C6.15 $8,645,484,35 Crone h. Cox. President Jmr llrnr, Ylco-rrcridi'nt .., .ii. I Vlte-I'rldent, t'li.a. I,. rtsttnur,li'l,tWn, $8,045,484.33 llarr P. SUuctr, Al Tr? Join, Y, iomtfr Mlatint Bftrmrr. x h l.( . A . , fc- -e-""'v " ..-W i jff.l.M.V, ! d-V tf hi?.AMi raffliiiUiifj; n.fn.fi m ' &emm wUJtfWfaa -'"nw,A EuZi&i Vi I jk. 'r$:m, H . :x m
Significant historical Pennsylvania newspapers