r. ?v,Ty - !" t. t"m WTCiwonmBirj ,. T ..f.t. " 'tt wn"' va - TI -i l 'h ltd" ... i i .' "" . j v Ml 'I L 120 ' EVENING PUBLIC LEDGER-PHILADELPHIA, MONDAY, JANUARY 12, 1920 iVEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS L I IM ., M '!. I 1 fWm h . '' 'k'fM'i . ft ' .;!' 1 s SSa-'lB'''" . A "Hot if I Kilt n. IS tit tV fc-r jli jl J". X wt: it aaau u ' m i i r.av .. j nm v.SCMi! . . Superior TS operations are basud on tho pur- chape and development of producing properties. It is not (he Corpora tion's intention to en gage in the development of "Wild Cat" Territory. Quoted on New York Curb Ciiailur on request C. E. WELLES & CO. Mrvib'-''- V. I Storl. I.'ihai'af 71 Broadway How York llic "(". n iUfTi it t ll 'I I . l"llo tin n n . i b- r. iliit,r. LITTLE MORE IRREGULARITY IN LOCAL PRICE MOVEMENT OPENING RALL Y RAN INTO STRONG REACTIONARY TIDE Money Market and Supreme Court Uncertainties Accentuated Mental Confusion of the Trading Element New Yurlt, .Ian. 1-. Inrrrnsiiip uh-IIhhr time loans for om weeks to errtaintiiN Kent tnduv's -lock iiiurKi 1 1 1'omo. Without mipIi n froli mpply of in nu titiecttlril ooiiilitinii Tlir iln.v h i iiioMMiicnts, s n niattor of furl. vwrc almost a cnmpletp replica of tlm ilaily barkiiiK-niul-IIIIiiiK pioro-s ulttii"-cil I In- Krcatcr iart of last week. Tlie (- i-rul 1M hail no M'ttled ti'liiloiu for mi.v Icnisth of time. Waves of siiruqtli ami lienviniwc fiillnwrd in quirk kih'cc- . s'on Hccorilini; to tlio viliiin-ii nl f.un ios j of tlio professional traders, who rdtiiti- ' od oomplrto domination. Storks made spirited rccnvcrii's at tlio oppniii!; from tlm Middon rpi'rnl wlildi atli'iidnd llio latr draliiip- on Sat urday larRply lipi'uni" tlio alarmist jam of tlic lONolution in (icrmanj was not uufirmeil. This, litmowr. as umiui'stioiiabl.v more an oxciisi- than a oansp for tlio shaki'down. for had the now time loans it is diflicult to place much hope for rasicr money conditions in m far as the stoel; niarnei is con cerned. . The opening operations indicated n complete disiccard of these important fundamental conditions: still the at'ti ticinl character of the initial liulKe was clearly lcvealed in the subsequent re actionary sjmptoms. The opeuinj, ad vances ranged from 1 to (5 points. American Woolen led with u Kalu of 0 points. The oils, steels, cnuipnicnts anil few specialties were carried up 1 to " points. Much of this mhuuco, howcer, was forfeited within the fiift half hour, with the oils deelopiiiK the most con spicuous weakness. The softer spots developed in the Mixienn group, which , .... .. .. , i i.t t. :....:.!...., lliaiKei noi occu vuineraoic me iin-in.-ui -. .. ... c .., ...,.:. , , . , . i . . . i ' n ion-'ii in o u uia uu iii iiir in oris would siucly have been pas..-, unno- . i(l.ilw ,,. ,.. ,..,.. r,lr,1,. uiimiiiiiiiiiimiiiiiiiimiiiiiiniiinniiii ticei . Tho initial rally tliis mornins. m-ii"-uivd on the same lines, was equally unwarranted. "As n matter of fuel, the upturn was entirely uncperted in many quarters because of the dellcit in (lie cle.iriiiK hoiis'e ieseres and iiinei taintics attendant upon another session of the Supreme Court. The unfaxorahle bank statement alone oll'il he counted upon to pnnhicc further ciiitioti. The dellcit of N'J.'.irJ. line uuako disturbances. The backset was er. Kenernl in Its churactcr and extended to ueurl) all paits of the list. The more vulnerable spots were natural!) found in the spec ulative industrials. American Woolen canceled its npeuitiR K.'iiu and reversals anion? the steels ami equipments uiURcd from 1 to I points. The motors and allied shares lost 1 to .'I points, and the shipping, tobacco and leather stocks declined nbout as uuirli. vjhile the rails were completely ignored NEW YORK STOCK EXCHANGE TRANSACTIONS j tAI.. . m-.i..... Ial Tmla.'a TS'Of Tlv iu a.v i Xtoyr Closo Chgc. i!Ml ncaiust a surnlus of S."4.(H0.tM)0 lannow r,v-i7lli "I the iH-.'Mous week was caused by the Despite the stiong reactionary cur- tldU'UdvFy sil,ilLU.l menilier banks p'l.v ins ort tlieir indebted- ,,,ut y c; steel was relatively firm, E . E 'I n-jteil b.v lcdiscounts of the ,jip (ew jnes. notably' Koyal (l previiiiis .week. This movement re- uutp,, Sliell Tinusport and Worth - S Tlf 1 Ti suited in o shrinkage of .'(i'J.'J'.i'J.lMK) !n jtigton I'uuip. were comparatively strong IVlliniCIDal OOnOS reserves held for their aecouiit in (he Helling piessure perceptibly slackened s XTAIUUV.1011 uriiu Inderal K.-erve Hank. toward midday with the renewal rate At the same time the inability ot of 7 per cent for call money and the" uis the IVdernl Ke.-erve Hank to iucreise position to await word from the Su its ratio of reserve on deposits, is e-- preme Court. 1 nhiined lij the fact that it lost S.VJ.- Moderate covering followed the 7 per SOs, (MM) j , (luriufr the week. The rent money rate, the shorts evidently' lit in of reserve to deposit liabilities is expecting a higher quotation, lmprove h'lt "'.li against Its. 7, the low lecord meat was of brief duration, liowever, 11I the previous week. The latio of'the general list soon milking another lie twelve n-gional banks on the other and more tevere decline under lead of liiiml went up I.". 1 against I.".. 7 the oils, motors, steels and high-priced week preceding. specialties Indications from these three bank Stocks were freclv supplied at sub statements sjows very plainly there stantially lower levels in the actiie final i nut likely to be mil reallv ea-ier hour when call loans jumped to 18 per inonei hi Wi credit conditions for' rent. Sjlrs .00 10,1 aon ,'00 8700 ion too 300 I G00 UI00 3700 10(1 fi:oo 100 1T2I00 tcoo 13200 '.'00 loo 6000 2000 1100 000 4800 laoo 700 800 100 8300 30100 300 700 1.00 too 3S0O 100 S74 100 100 1100 400 109 .300 100 Advance TUunoly . . Advance Humely pf (! AJax Itubber Alaska Oold Jtlnea Allls-rh'Rlmcrs 7 Alirs-Clialmers pf . . 6 Am Agrlo Chem p . " Am liosch Magneto . Am liosch rt Am Can I'- Am Oar & IMy 4 Am Cotton OH .80 Am Druggist Sjn . . 0 Am Kvpress Am llldo & Leather 7 Am Hide & I,eath pf. Am Intcrnat Corp . 3 Am Uiibecd 7 Am l.ln-ced pf . . . Am Locomotive UlEh . 43 54 , . Vt . . 86 V, .. m . S0?i . . ot . . 05'. .110 13 . . . fifll& .130?i . jini . 13)4 . .looli . 27 n . 1 1 7 ?4 .11455 . 7SV4 . 9314 .1015. Toi1n'Not Low I'loso'Chce. Am Sh'p & Commerce. 2KU 1 Am Smelt & nef 9 7 Am Smelt & ltet Pt . . 00H 3 Am Steel Foundries . . 4514 10 Am .Sumatra Toll .... 0014 7 Am Sumatra Tol pf.. O'llS 8 Am "Tel & Tel .' 7 (i Am Tobacco pf new.. 97'i Am Toll Sei! temp Ufs 70?i 7 Am Woolen . . .103 7 m Woolen pf .. .1011J Am Writing Paper pt. JiCl-j Am Ztne Lead & Sin.. 2?4 (i Am Zlno 1. & S if. .. AO'i 4 Anaconda Copper . . O'.t'a . Assets Kcillzatlon . "?4 Aspo Pry (ToodH . . (' Asso Dry Cids 1st pf . . 71 0 Associated cOII H81 ti Ateh Top & Santa V'e . 841j .' Ateh Top & S V pf . . . 80 Vi 7 Atlantlu Coast JAnu . . 92 10 Ml Culf & W I S S . .IGOli uto Sales C (em ctfs. Is 03000 3.50 lUldwIn Ijocomotlve. .121 e O u r .lau.iary "Municipal Born! ('imi)ui contains a wide solocticn of issues with diversity as tn pi ice. income yield, p'irposp and p;po;iapi cal location to moot the various lvuuirements oC in dividuals and banks. Tho bends ate exempt from all Nut mul Federal Income Taxes, including Surtaxes. Prices to yield 412 to 5l2 Wn'r or telephone for Municipal Doud Circular HD-1 1 Munirr mmrn nv IIIHHILl mUVLU Dl FITS AND STARTS Philadelphia Stocks 1 ow :!!)i.. Close 10 Xct chce. 04 li-li-i-fui. (ojjicqnjb. I Goii'nuii.nt and iiuniciiiui itoniis Day's Developments Supplied utcr a t'unr rr 1 en urj m mis vustness. 11 Vlall btiiel, .Ne lorW (St. I-ouu s'mdnnati s'hlca?n NiwO: leans ZZ iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiir Ample Bear Material to Depress Prices -1 -7 -1 a 1 OIL GROUP VERY SOFT I i New oiU. .Ian. 12. Tlio New York 1 li cuing Snn's closing nnancial review today sajs: The stock market session at tlio begin ning of the new week was a good deal ThrMi bond, are nmi vjline mi the New liKe the sick man who is not too sick to llftVv.l Xl.' TioJ-7" ' ' "' oe nbout in a sort of pale edition of him- Wfre. (hnt !,., or.se,,. , ..,,, ,,,. "If. It had tits and starts and spells mrot opportunity lit .mi ilsiire iniilrr 70. , "f timid shrinking. The openiug was I - 1. I... ., ..1.111 .1. . ....!... 1 In ,.l . r.i,H , 11 1 ... 1, Ul'liii- I'lliiilKO "Ul a linn in-nuiirii Hock island, $rk. dt Louisiana First V2s, J93A '1 Carstairs & Co. I Member 1'ltlladelplti i and Nrw York -tntK lvdi.mceji M19 Walnut Street 71 Broadway, N. Y. Wc offei, subject to prior sale $50,000 City of Philadelphia 4 Registered or Coupon Bonds Due NumtiuI er 1 ms 1 j Marc Pric- n 1 I ppl n'irt i Craham. Parsons &Cc, 435 Chestnut Street Philadelphia llieh "0."i Am Sirs. Id s Am Gas. riU"1! .'..-. A Kys pf OIL.. sil Con Trnc .7 ... -10 lid T.lec Str..i:i7 20 lieu Asp.l2o 1UII do pref.l!)2 :v, 1 c N a. :;ti 110 Key Tel. 1!! l.'S.-i l.k S Cor 21", 122 Leh Val. 44 IK!2 l'a H .U. 42", ,":'. l'a Salt, "li'i P'i iMiila Co. 11:14 CiO do c'm pf ;iti 4." I I'hil i:iec 2."iL. ti7!l 1 It T t.' 27"s ::.- rn-ans o ni' t 1(1(1 Ton Mm 2L. s-,2 r r. 1.. 57 ."(I tl' S Stl.Klti'Ss lOOi's l('.(!:!s4- 2."i A est C. 7." 7." 7." N'el change made bv comparison with last kale on Neu Vork stock Cxclianse. -Ill i:m 12:5 11)2 12-lt 21',h 4-1 2', 70 41 1 j. :!.""', 2.-.U 27'.. .".O-'s 2'-. .in-, 10 i.-ic. 12:; 11)2 no 1:: 2u; 14 2',i . . 70 . . 41'.. no . . 2.jU iiU 2'. . . .-itl!), s I $50, $100, $1000 Bought Sold Recommended for Investment Newburger, Henderson & Loeb IVMirK 1410 CHESTNUT STREET Members . A I'lilla. SI01K m rli uiets shortly and prices receded readily. At the end of the tirst hour or so there was some show- of recovery only to be fol i lowed at midday by considerable weak ness The fact seemed to be that at the out set the shorts sought to cover on sales made Saturda.v to the accompaniment of 'the foolish jam of a revolution in (Jer 1 manj. but there was so mild a response 'on the long side that they eiidentl.v thought better of it and began to extend the short interest. ' Misi-oii-tim tion of the banking sitnn- 1 tion derived from an obvionslj super- , ticial tiual.vsis ot the Sa .statements, the usual .Momlav il.inu of a possible Supreme Court decisiun in the .Mm Cumber stoels dividend case and 913 n.ther suffer all money rates rellected in 7 per cmt renewals'as against 0 per cent rem waN in the second half of last week, supplied ample bear material. lint there was. less confidence on the bear side m the early afternoon when (he npreme Court again anuounced iu effect that there would be no stock div idend dei lsjon this week, whereupon Hading went dull to 11 degree as the lisi haruinfd n.arerially. Thereafter initi ative was lacking aud 'dragging business uf .1 piot' ssintial cliaracter ensued. With the exception of.Uoval Dutch and liojal Dutch Shell, which were strung for tec Initial reasons, as well a fur dividend hopes, the oils were weak, prisinnabl.i because of earthquake dis liirhatiiis in Mexico, at least iu the cne of Mexican I'etroleum and atliliated companies. 'Ih" iimtois suffered eclipse also There were a few strong pots among the specialties The stocks were disposed Total s.iles. )27S shares, 50.1S shares Saturday Sales In IIONDs 10(l 0 HlKh Low o .'5-5 Am tJ ol Klec .Is. . . S2 SI -. Citj .s "47 117' )1U ' do 1!I4,-.. 07' 1 !17l'i 1 JJlec & I'co Tr 4s ... 0." (i.'i compared w 1th Vet i'Ioj-o 1 hse. 81 1 H7Vi -N !)7'4- r's J?. 2 Leh Val (is.102'., 102'j, 102Vs ' 2 do gen 4s. 70'" 1 do gen 4i..s Hi'.. 2 l'hila Klec 1st os.... !)1 in Head gen 4s SO1-. 1 Wcls Co ,'is US' 4 Bonds. J JO 000. compar-urd.t nm !I0'1, M) liM, rni.', ii, -ok.iir. fio- i, OS',, ',, oh 194M00 Pat- , ili POOL ACTIVITY BRINGS ADVANCES IN COTTON Prices Rally 30 Points on Report of Purchases by For eign Interests Essex County, N. J. Serial 434s Price: To Net 4:45 Biddle & Henry 104 SOUTH IIITHSl i i iTTOX nELT WKATttCR COXIMTION9 ev York, Jan 12 The folIoMim? tem perature? were recorded in th1 cotton tielt this morntnc: Naphillle and I.noxvllle. 2S. Oklahoma and C'hattanooijH. 32; Abi lene and Memphis 3) Tort Smith Little Tlork and Atlanta 3 Wllmlnston. 3S; San Antonio and Vlcksburu 10 Shrv port. 4", Cotpuh Christ.. Mai.on. Mont (?oiniry ind Auuita (I CJaliestnn anil savannah, (0. rhnrlston Pnbacola and New Orleans -IS. Tliomamlll no ami J.icKsnnvUIr, .12 Thero was HI llieh of nreclplt'ition at Meridian Os at Vieks huric: .10 at Fort Smith 12 at t.ltllo rtoek. 30 at Corpus Chmti s at Gal veston, and 1 20 at Pan Vntonio New York, .Ian. 12. TlieCotton i., i... i,..,.. i iii....i...h t iev ivttisto.nl marKCL was nrmcr aim more active io- pressiire beHer than the general iudii- day on covering, due to reports from the trial list "The equipments eiijojed in- South to tho effect that a pool of foreign lentils of relative htreugtli. buoyed In interests had been formed to buy up a the impending demand for curs and lot of low grade cotton. Ion. motives. . Prices rallied about no points from Then' was seani reflection of the stir-, the lowest on the news. Trading was pri'iugli good tonnage report of the .smal land the market tpiiet. Iniii'd SKiti Sti el Corporation, issued The receipts of cotton at the ports Saiuidiiv. in which a gain of more than for the day were estimated at i'0,000 I.oimi.oiiii ions m uulilleil older was' bales, against 25,041 bales last week ills, I., si 1 1 in lle ember. Tho rails were , iij(cj bales last year Igihth dealt in ami but little damaged, i BANK LOANS LARGER lull i irt Reserve Position of the Local Insti- tier 1100 loot 700 I3'0 101 lsouo loo 1300 400 ICO 00 ;on eo t.oo 7C0 1180 too 1700 5001) soo 600 2400 100 -'00 C00 ..00 200 200 1700 too 1600 1300 tioo fi'iOO I0i 400 too 600 100 200 too 3400 200 olQO 5200 100 500 SOO 100 30(1 100 109 2300 . .10 ,S00 200 400 100 4400 400 2100 200 200 SOO COO 9100 100 800 7000 200 100 1500 1300 100 T goo 700 300 100 3100 SOO 300 100 1600 3o00 5600 6300 14400 300 COO 100 200 100 200 100 1800 1 Haltimoro & Ohio .... 3'J 4 Baltimore &.OI1I0 pf . . 40 s Harrelt 1234 Bethlehem Motors 30'i 5 Bethlehem 'Steel (12 5 Bethlehem Steel II . . . lis?, 7 Bethlehem Steel " S Booth Fisheries ,s Bklyn Itapld Tronblt.. 13i 10 Hums Bros U .30 B itto Copper & Zinc. . 11 14 Uutto & Superior Cop !' ButterlcU -s Caddo Central O & U. 24 'i ii California Packing. . Sl3i California Petroleum . 42'b 7 California Petrol pt.. ""2 10 Canadian Pacific 13'-''4 5 Central Leather s''8. 4 Certaln-teed Prod ... 67 4 Ccrro do Tasco Cop . -M 5 Chandler Motors 120'2 4 Chesapeake & Ohio . " . Chi Mil & St Paul ' . Chi Mil & St Paul pf.. .12 5 Chi Pneumatlo Tool ..103'z Chl Rock Isl & Pae ... 27 6 Chl rt I & Pac Ce pf Chllo Copper 20 3 chlno Copper M .. Coca-Cola I"1' '.1 Colorado Fuel & Iron. 42'4 4 Columb Gas & Klec. .. 67 1 Col Graphophono .... 60' t Comp-Tab Hecoid .... 55 Con Intcrstuto Cal M. . 19?a - r'nntlnentnt Can 83 Continental' Candy ... 1"?4 run clear rjt 82 7 Consolidated Gas ... 81 's 3 Consolidated Textile . . 30 4 Corn Products P.ef ... 8.1 Vz 7 Corn Products Kef pt lOltTa 12 Crucible Steel 31314 . . Cuba Cano Sugar 52s 7 Cuba Cane Sugar pf . 84, Durham Hosiery 6714 . Denver & Klo O pf... 13'e Krle 2d pf u 3 Elk Horn Coal 23 Js Emerfon-Brantlng . 28'A 7 Emcrw)n-Braiitlng pf. 90 .1 Endlcott-Johnson H0!4 7 :ndlcott-Johnsou pflolli t:rlo ,37 Erie 1st pt ;"le 8 Famous Players-Ii ... 02?8 10 Fisher Body "O . . Flsk Ilubber 43'4 1 Federal Mln e. Sm pf. 04 3 Freeport Texas 3'-- 6 General Cigar 7- 7 General cigar deb pf. 0.1 s General Electric 16S'2 3 Gaston Wmi &WIB... 18 13 General Motors 328V4 6 General Motors pf . ' (i General Motors deb . 81'5 4 Goodrich B V 7'8 J Goodrich B V pf.. -'' Granby Consol JUS, .13 7 Great Northern pf . 70ls 4 Gt Northern Ore ctfs . 40 Greene Cananea Con Jf . Gulf States Steel . .. 81 ',4 4 Haskell & Barker Car. 61 V, a Homestake Mining ... 71 7 Illinois Central . . SO r 6 Inspiration Con Con 0' Interboro Con Corp . t'i Inter Con Corp pt. . 12 'A Int Agrlcul Corp nf.. 81 U Int Harvester . . Int Mer Marina C Int Mer Marina pf... .. International Nickel. . . International Paper. 6 Inter Paper pf stpd . Iron Products Corp. .leivc Te.i 7 Jewel Tea pf 3 .lones Bros Tea . Julius Kayser Kan City Southern . 4 Kclly-Sps Tiro 128 . 47?, . 10"a . 25 34 . 8.1 H . 77('2 . 47' . 20 . II li . 2S 113 . I.1"4 113 42 H 71H 8.1 I4 4ST 01 95 W It Mi) 4?4 54 13715 51?4 12'. 1001s 26 115 nm 73' 93(4 09 ?a 3714 68 iz OST'r 43 H 04?4 92 A 9?4 69 Vz 154 103H 56 20 ? 59 14 62 5'4 6".l4 71 11814 33 i 79 V3 92 104 18 115 3114 4 714 137 28 ?i 9J!4 0.11,4 969a 14 1314 118 10 H 37 Ti 24T'a 22 3i 8014 4 1Tb 75!4 130 'A 91?, 67 57 123'2 55 3614 52 102 26?4 ' 6014 19?B SS'i 3914 4114 64 14 59 55 19 88 12 la S3 81 H 30 83'4 106 ?i 311 51 8 St34 67 13 UH 2.1 14 2814 90 120 14 104 's 138 30 9014 130 43! 39 3114 73 93 1G814 1714 318 87 84 -8b 101?4 53 78V4 3914 38 80 ?8 60 7014 89 41s 1314 81 137 46 9U 24Ji 81 7J 47 20 43 2S 11014 l3'4 13814 43 H- 73 34 85 - 1 1?4 ' 481'.- 3 l - 14 9J?4- 114 11614- 14 ?- 14 54-3 13714- 3J4 51?,- 14 1214 14 10014- 1?, 26 - 2 115 - 3 111',- 3?4 75 14' 0314 09 6614-8J4-44 -94?i-0314 964-9714-69H-134 -10354-56 - 20 ?4- 14 5914 6314- 14 514 6314- 14 741 118'4- 4?4 li H in 14 J4 114 IH 14 '4 14 114 3 n 1 835s 79J4 -92 - 164 14 18 - U3H -3114-4714- 127 -28J4-9314-9014-98 14-1314- 118 -10 K -2814 -80 ?4 130I4 94 ?4 68 -67 - 12314 55 3614 63 103 -27 -61 1314-3S'2-3014- 4114- 1 6114- H4 59'4- 14 55 -19H- 88 - 13?4 S3 - 8114 30 8314 " 106?4 21114- 01 H - 81H- U 6714 214 13 14H-I- 2.1 li 3814- 90 - 13014- 104 ' 13- 1. 20 - V, 0014 li 130 - 1J4 4214 29 -93 -K18J4 17- 3 330 - 8 8714 1 84 - '- 79 - 1!4 101?4- 14 53 - 1 78- ',4 39- -s 38 -1-80?-60 -7014-9 - 7 - 414 1314 SI - 127 - 16?4- 914 25 - SI?4- 3 77-1 47 - 214 20 43 - It4 2S 1 I A li II'. 1514 14 I 13814- 7?4 ' (-8 94 1 314 ?4 5 14 1?4 1?4 ?4 14 U4 "l4 W V 94 H4 114 314 3 194 1 "?4 'l?4 14 ' 14 V. 14 594 v 3?4 9 ? ?4 1 4?( 1 14 ' 7 14 Dlv. Sates In $ 300 S 100 2900 2 ICelly-Spg T 8Te Pf Kclsey Wheel Kennecott Copper . . , 4390 1.20 Koystono Tiro & Itllh 100 5 Krefgu S S 3100 6 Lackawanna Steel . . 600 . . I.eo Itubbei- ft Tlru . . 700 3.50 Lehigh Valley SOO 3100 200 200 390 200 200 100 100 200 471100 200 200 13700 5900 300 900 300 2500 200 - 7 100 7 100 1700 6 600 5 200 200 1.50 200 10 Llgfcett & Myers pf . Loft Corp Loose-Wiles Biscuit . Ioose-Wlles B 1st pf. Lorlllard P Tobacco Illel .104 . 80 . 31 . 44 ?4 .145 . 88 . 3614 . 44 .10814 . 25 V, . 69 . 9914 7694 7 Loil'svillo & Nashville. 11194 Martin Parry 39 7 May Dept Stores 2314 7 May Dept Stores pf . . .107 . Maxwell' Motor 3314 10 Mexican Petroleum . .209 2 Miami Copper 2U 7 Minn St 1" & S St Mi. 7214 20 Middle States Corp ... 60 4 Mldvalo Steel & Ord . . 5194 . Missouri Pacini) 2 Missouri r.idfla pf ... 41?t 3 Montana Power .... S!4 . Nat Anll'no & Chem.. 68 7 Nat Anlllno & Ch pf . . 88?4 7 National Biscuit 120 Nat Conduit & Cablo . U 6 Nat Euam A: Stamp.. 8314 5 National Lead 81)4 . . Nut It It of Mcx 2d pi 6 Nevada Con Copper . . 1614 New York Air Brake .113 1200 5 New York Central 100 2.50 New Vork Docl; . . .50 5 100 900 100 100 309 100 2000 200 4100 300 1300 100 000 3200 400 100 42000 5709 400 1700 (00 4000 100 6100 16100 100 7500 1200 200 100 1300 100 100 1000 . 100 400 1900 1100 300 1500 200 1000 59 GOO 100 5600 43000 8.70 New York Dock pf . . New York NHflll . Now York Out & W . Norfolk & Southern . Norfolk & Western . . North American . . . Northern Paclfld Nova Scotia S & C . . 4 Ohio Cities Gas . Ohio Gas rts 30 Okla Prod & Itet ... ., Oregon P. It & Nav . .1 Olli Elevator Otis Steel 3 Owens Bottling Mach 1'acltln Mall (0 . 40 . 36 . 2694 . 1714 . 13 . 09 ?4 . 57 . 80 . 7314 . 48 . 5 . ?, . 9214 .135 . 2994 . 661, 38 6 Pan-Amer Petrol 'llOl 8?4 . 4414 4214 38 . 30 49 42 34 77 34 14 2'A 1 " 1?4 14 14 3 j ?4 114 94 1 1900 3100 300 31400 13590 24200 1200 100 12.100 700 100 1800 36900 500 200 1000 7100 I 2200 100 2100 200 19100 SOO 1400 2800 100 100 1000 too 300 100 1300 13S00 100 2800 31700 100 1000 52900 200 1300 970O 200 100 200 300 200 100 100 200 400 3100 400 100 12000 400 8500 1 . Pan-Amer (B) ..... 3 Par'sh & Bingham . 3 Pennsylvania 11 1. . . Peoples Gas Chicago I'ito Marquetto Pern Marquetto pf . 3 Philadelphia Co .... l'lerce-Arrow Motor . 8 Plet co-Arrow Mot pf . .10614 Plercrt OH '21 8 Plerco Oil pf 07 5 Pittsburgh Coal of Pa 63 Pittsburgh Coal pf... 89 Pittsburgh & W Va .. 2814 fi Pitts & W Vn pf 7S t Pond Creek Co.il 25 8 Pressed Steel Car. . . .100 7 Pressed Steel Car pf.. 10114 8 Pullman 110 5 Punta Alegre Sugar .. 924 8 Ha'lway Steel Spring .1004 2 Hay Consolidated Cop. 22 4 Heading 76?4 Kemlnston Typewrit.. 8014 tteploglo Steel 47 14 6 Kepublia Iron & Steel. 1114 8 Republic) Iron & S pf. .10014 Itepubllu I & S rts Hoyal DMtch NY St Joseph Lead St L San Francisco . St L Southwest l'f. .. Saxon Motor Shell Trans Trading . Sinclair Consol Oil . . fi Slos Shell S & I . . . 7 Sloss Sheft pf 6 Southern Paclfld . . . . . Southern Railway . . . .1 Southern Hallway pf. 4 Stromberc Curb 7 Studebaker 5 Stutz Motor 3 Superior Steel Tcnn Cop & Chem . . 10 Texas Co . Texas & Pacific . . . Tidewater Oil rts (I Tobacco Products . . 7 Tobacco Products pf. .10214 Transcontinental Oil.. 31 5 Transuo & Wins Steel. 03 . Union Oil 3694 10 Union Pacific 12294 4 Union Pacific pf 08 7 United Drug 10 United Fruit , . Un Ry Investment . . Un Ry Invest pf . U S Express 2 U S Food Products U s Ind Alcohol . . IT S Ind Alcohol pt U S Realty & Imp . . V S Rubber U S Rubber 1st pf . U S Smell & Ref . U S Steel U S Steel pt Utah Copper ... . Vanadium Corp . . Va-Carolina Chem 1 .10714 . 1614 . 1714 . 21 . 31- . 86 94 . 16 . 77 . 91 .103 '. 55 . 80 .109 .125 . 4914 . 11 .217 . 40 . 23 02 .141 .19S . 1194 . 28 . 31 . 7114 .113 .10214 . 53J4 .131 .11614 . 7314 .107 .11514 . 77 . 54 69 Va-Car Chem pf 11 Va Iron Coal & Coke . Vulcan Detlnnine AVabash pf Wells Fargo Exp Western Maryland . . Western Pacific 4 WcHtlnghoiifce E & M. . 1 Whlto Motor AVheellng & L Erio . , Wheel &. L Erio pf . . I Willi s-Oicrland 5 Wilson & Co Worthlngton Pump . 8? 26 23 !4 53 11 2514 33 !4 '63 1214 18 31 ?4 78 93 ?4 104 80 31 4014 1(5 83 35 44 10814 2414 60 9 Vt 172 111 30 2314 107 33 19514 2414 7214 6394 5094 3314 41 6714 6314 8814 120 11 83 !4 S0 6 1014 1 110 69 46 57 20 1714 13 0914 87 79 73 47 5 814 9214 135 27 59 38 94 93 4414 42 3714 29 49 40 72 106 14 2014 0694 0114 89 28 78 25 98 19114 11594 0094 0914 2194 75 89 47 14 100 l'4 10514 1614 17 24 20 81 44 75 91 100 21 55 7794 105 123 49 11 203 39'4 23 90 103 3034 03 3614 12194 68 141 195 1194 3714 31 73 109 102 14 51 137 94 11014 71 105 115 76 51 6914 113 81 25 3314 .13 11 35 53 6014 1314 IS 30 76 88 J4 104 80 31 41 145 - 5 - 94 - 3 494 85- 1 3594- 194 44 10814 2414- 194 69 - 1 90- li 173 t 0 11194- 14 30 3314- 394 107 94 33 - 3 190- 994 24 .. 7214- 01- 1 5014- 94 2514- 14 41-14 6714- 94 6514- 94 8814- 14 120 11 8214- 1 80- 94 6-14 014 , 110 - 294 69 - T4 46 - 214 57 - 3 2614- If 1794 Vt 12 14 6914- 3 67 14 79 - 14 73 -I- Vt 4714- Vt 5 914- 94 92 !4 135 - 2 28 - 114 5914- 194 38 14 93 - 614 93-8 44- 94 43 - 14 3714- 114 2014- 94 49 JO - ' 74 - 2 106- 214 20- 114 8694- 1i 6114- 94 89- 114 28 14 78 - 114 23?8 - Vt 9914- 194 191- 2 118 - 14 91-2 0994- 31- 75- Vt 89-3 4714 Vt 14-3 106 Vt 114- 14 106 114 1014- 14 17 - 34 - 1 20 .. 85 114 44- 1 70 - 1 911 100 - 2 31 - 1!4 55 7794- 3 100 - 214 123 - 4 49 11 14 203 -13 30- 1 33 1 9994- 3 10214- 114 31- 14 63 - 1 36 123 - 68 141 -193 - 1194- 27 31 73 109 94- 10314- 114 53 - 1 12794- 5 116- !4 71-2 10614 11514 14 76- 53- 1 09 - 112 81 - 2 20 5J4 33 53 II - 35 - 33- 60- 1214- 1K 30 - 76 - 89 Insurance Co. of North America Directors Declare Extra 8 Pc Cent Dividend and Regular Semiannual of 7 1.2 The most interesting development from a local market viewpoint was the announcement of the declaration of oil extra dividend of 8 per cent, In addi tion to Hid regular seminnnfial dividend of "Vi per cent, by the directors oftthc Insurance Co. of Xorth America. Six months ago the semiannual dividend was increased from 0 to "V5 per cent, and a j ear ago the company dechfred nu extra dividcud of 8 per cent, In addition to the regular semiannual distribution of 0 per cent. " Among ".lie many I'hilndelphlo finan cial institutions none perhaps has a more interesting career than the Insurance Co. of North America. The company hns safely passed through borne mighty troublesome times in the last two cen turies mid ItK strong financial position enabled it ithvnys, to weather these storms under the stress of which ninny other concerns doing a bimilar line of business collapsed. The Incident helped to break the mo notony of nn otherwise dull, unproduc tive as well us featureless day in the local market. There was more Irreirn. larity than usual in the movement of tlio local stocks. This, however, was not the result of adverse local develop ments, but was traceable entirely to sjmpathetic influence of the unsettled stutc of tho big exchange. Prices were Inclined to drop, which came more from 'nek of interest than selling pressure. Comparatively little loug stock came on me market, while, on the other hand, the concessions attracted fresh odd-lot buying. Trading continued on the same lim ited volume and the nnrrowness of the market was emphasized in the rather wide" declines sustained by the high 'priced specialties. On very small of ferings (ienernl Asphalt common yielded S7 to 12.1. The preferred declined $1 tn 1112 and Electric Storage llattcry made n similar lossi.it 1.1(1. Iu most of the other local stocks price variations were confined within small fractional limits. After early strength, United (Ins Improvement. Philadelnhln Electric, Lake Superior Corporation, Philadelphia Co. nnd Philadelphia Itnpiil jransic till snatieu muter Inst week's closing level. Some of the Inactive stocks were notably string, with sub stantial gains. Atncricnii Gas was V higher at 5034. Keystone Telephone at 1.TJ4 was .$1 above the previous ni and Pennsylvania Salt via" M up If 704. Increasing dullness ma'AM price-shading, reflecting the absence of belling pressure in the local list The reserve position of the rhlladel phia clearing house institutions, if iL weekly stntement is interpreted cor rectly, was again; improved last week hi further extensions of rediscounts at ih Federal Ilcscrve Hank. This vi as n dlcated in tile expansion in loans nnj discount of .$17,21)4.000 and an hcm of $2.5:11,000 In their reserve bcSTS the Federal Itcservo Rank. Liabilities at the same time were further redueisl in the falling off of $15,OSO,000 in hi dividual deposits. The result; n ,n events, was an increase in exeoh ro serve of .$812,000. raising tho mrplii above legal requirements to ?5,(W2,00fV NEW YORK COFFEE MARKET New York, .Tan. 12. The coffee mar ket opened at an advance of (', t it points. 'The cnbles were a little better than due, and this may have influenccil the scattered demand which came from Wall street and trade sources. Shortly after the call buying from Willi street and trade sources became moro general, and prices worked up ward, March selling at 10.20; May M 10.40, July at 10.57 and September at lO.r.O, or 14 to 22 poiuts above Satur day's closing figures. ? Early January has witnessed a shatS advance in coffee nnd, while an uj. vnnee is usually expected durinz .tun. uary, it started earlier than usual. The Rio market is very firm and under bull control.- The stock in Itio is far short of that a year ago. 14 14 494 114 14 3 Fat Today's clnse open March IC.OOMiiS 1(1.12 May in.In.J21 in.ss July 1tl.ar.Wi3H ! 17 September ... 10.100)11 '10.23 Did. 11 oo n m. iai 10. '3 BANK CLEARINGS . nank clearings today compared with cot. respondlnff day last two jeara: 1020 1010 1118 rhlln.. J75.47D.fl02 Jfifi,3n5.il37 JSTJlll.HJH N. Y OSK.IU 4.004 407,012.640 37n,nslt,lu Ponton fil.&O.I 301 42.248.140 3S.370,;8S ChBOl .110.107,2800 101,884.033 nalto .. in,ir.,07S 14.1nn.177 . St. Louis 11,202,313 34,506,042 I High Return With Safety Do Your Investments Yield 6 or Over? Pnto. Sllti. G. 4 V ocl I960 Georgia Ktei. t Power j 195i Canadian A'ortieni Equip 6 19SS Indianapolis Union Kiel A 7921 C. C, C. S. St. iou( Rivv C 10ZO Fv.il information upcm request. n.on C.SO'i k.tO'J li.75o r.sor. REED A. MORGAN & CO., West End Trust Bldg., Phila. Members of Philadelphia Stock Exchange. 1 214 94 Set. To'laVa 11 00 t .10 2.30 rinse ripen d m p 111 p in. 37 so as no 37 ss 30.07 30 0(1 3d TJ 30 29 ,".r. 30 . 31.R2 33..-..- 33 IS 31 S7 .11.111 . 33.0S 33 SO 33 37 30.311 31 40 . 30 03 ' ao.sri . Bonds of Client nritnin, France, J3olgium ami Italy is.sued in pounds, fia'ic.s and In- mUy ho pitrclmM'd at price- that will 'ulti mately -how a pioiit of from 20'4 lo 100', uti the investment. iH'luils on Request Isaac Starr. Jr. & Co. Id til A (InstiiHI Mrrrtl Plill ilrlplilil Telriilitiiir Siirute SSS-J-tisa tutions Was Improved Last Week I.oaus and discount of the Philadel phia ("bating Mouse institutions were iiii-i'i'ii-ed M7.-1'l.(MM) lust week. This apparent lv represents an extension of rediscounts at the federal Reserve, rather than u further widening of bank ircdit- The reserve in the I'cderal Ile- ne liuiik im reused yy.ri.ll.OOO. At the same time liabilities were cut down In a reduction uf Sl.ri,fs.!).0(0 in in dividual deposits. As u result the ex-i.-s, reserve was raised $S1'J,U00, bring ing (he surplus above legal requirements to W.tiTi'J.0011. I Mails follow: all memdrhs Jan. I'-1. 'SO Increase Lnanc .- 1700 170.00017.204.000 Kx.hjSJ CI Houre.. ST.TlT.oou -i,iv..u'i i . ii'i.tiiiu -i i,ii,ii'ji Criv l.tiliK omimin 11 Mice, 'is CvnMllil.ilril trarlluii ( o. V .1. ?. I'mtinrhiiltfa Wrt-r A 1'uner ( o. ,W .Mlllll.pii sl.-. ICiillrouiJ (o l-t .'ii.. ,iirrini K-1'wu.is I onip.iny dill. ,"i-, li'f.iiiiJilHills rrtrtlou .V Irrniiiuil Am, .IrCtfsoa IIiiIIioihI Co Pileniliil Mi.., Mou.ton (." .V Ind ( uiiiiiiiny Kef. 3 lUltklrro llcluunre Itnllruuil 3K.. Ufi isuprnor luriiurtiiion im on. I.... frnm h.nl. P. Ilk .1 MiHU '''s-IST-Xn! Till" .IipOMll . TUJl.OOO it. i. u.i'i r n n " nf, "r"' dT"". 30 n'3.000 lil.ll l .jth ir jiilia 13 I1U1 ')'" 111 CI T. i I i ri. hflfl K(l,02rt,(i(10 litKl (l-H r r.'Ulrrd .. :.4 371.000 IH4.'t IJiimn n-irii" 3.(132.000 1,1)11,1,000 b'-'-.uutf Mi.MULnh m:sKitvi: 2 .'.31 000 1122. OOO 2. !" Odd 1 r.si.nnu MJ.tlOO SYi-TE.U .IV. 000 snn.ooo !di 10.lt l iSi, llnrri' I.. 1.1 :. 893 00O J inV. L.ri r-f' rvi . 4 188.00(1 l(U TM'ST COMPANIES NOT MEMDI-HH 1014 JIKSKUVJ5 SVBTKM ve held ... . H, 131.000 00,009 " .... i nij nun k I non 1n fecvpn !(" f p vw.,--v .,.,.-- '. SHimit'l If. PhillitlSi & C.n. HI d'flUuV, o the. lliwft "bova thero 'u.r- . . .7 .... ..: . I r -.-' thia nfW. las.o; I Odi cover i-?1MtM J!J!,"trt I -nf iijit Blrt XW-h no ref'! Is .j r n(t vu..s. .h w. I . M ., V .(&... ... . .. --- . - .-..-. v. nJ,-o.ti' mjH.a,.. Kt4iiiimilU I'nlon liollirnv Co. Itsx, 1(1201,, ,.,, tj 111 nnn Jjr llaiitc., In-luN. ,.--i.-ni 0.' loiS h?"- ; 'i'JJSSo ln4laoplI lrlll-Tn Tmcilan 0s. ltwj --VKUrl. .. Clearing House Elects Officers t (he annual meeting of the Phila delphia Clearing House Association, held today, the following officers aud committees were elected for the ensuing jenr: President, I', h. Rue: secretary. John C. Ilovd. Cleariug house com mittee: I". P. Shunbaeker, Charles S. Calivell. Joseph Wayne, Jr., William J. Montgomerj , C. S, V. Packard, Wil liam A. Law, William A. Nicholson. Committee of arbitration: James 1". Sullivan, lMw. A. Schmidt. Ira V. Iiarnes, Lewis It. Iiek, Henry O. I'.rengle. Charles II. Harding, II. A. I.oob. There were nn changes in offi cers or member of committees. DIVIDENDS DECLARED Jon Hio Tea Co. Inc. nuartrrliJ .10 rnnts on tommon. paabl January 17 to stock of record January 13 Hrown Hhon Co . (lie quarterly 1, per rent on preferred, tiajable Kebruary 1 to utork nf r-ord Januarv 20 Continental Huiar i'o , a. dividend of 8 per rent, puyable to stockholders of record Jun unry 1 In ouarlerly Insialltnenti. of 2 p,., rent "ach on January 10. April 15, July 15 und October 15. BAR SILVER Commercial bar silver was quoted in New York today at f 1,H7 on ounce, an advance of 2 cents. In London the i.l ..- ,.nf.,l .1,1 hlt-her. nt K''l,fl( a rovernmnt doi -'"- 4-" '"' "" I m.-r ...... ... -. ...... hi-l, ....ll reiiuiren; jiy'K "( "" FOREIGN EXCHANGE New York. Jan. 1''. The opening quotations in the foreign exchange market showed a slight improvement in sterling and u corresponding lnsH iu marks, the figures of 1.07 for cables and 1.05 for checks being the lowest for this movement. Aii-trhin kronen at ."0 equaled the low recotd of last week. Other quotations weie: Demand sterling .I.i.V'i nnd cables R74V-: franc cables 11.1b, (hecks 11 IS! lire cables 1...4-. cliecku 1H.I4; Swiss cnbles n.lll, checks fi.00; guilder cables :i7'!.'. hci ks :-: pesetas cables 10.1.1, checks 10.0.1 ; Stockholm cables HI. 15. hecks 'Jl ; Christianin cables 10.00, cheeks 10.75; Copt nliagcn cables IS. 15, checks IS; Hclginn i ables 11.10, checks 11.1 1'. Around middav. Hie market, with the exception of marl.-, showul smtie im provement, sterling going to I'.l1. for demnnd and .".7.i for cables am francs rising t ll.lii-'j fr cobles and 11 15 for checks, or a gain ot I ion times. Lire gained - points, to III. 10 for cables nnd I".!- for (-heck" MONEY-LENDING RATES NKW YORK Monrj on call opened today at 7 per cent for lending and re newing. , ,, . . A good demand and light supplv of lime monev is leported and loans for sixtv das on industrial collateral are IS per lent bid. (Quotations for three to six months are 7'iTS per cent The demand for prime mercantile pa per in local financial circles is limited nnd the minimum discount figure is 0 pre cent , , . Prme bank acceptances are quiet nt preiimish quoted rates. Cull looi on acceptances stand at lai per -out. IMIIIAIJIiU'IHA Call, (1 per cent ; time, (1 per cent; commercial paper, three to six months, rmi per cent, and six months,! 5 Opcr cent. kOWPQJtf'-'Money is quotei, nt .TJt per eit Phwount rates, hort bills, ?; P jrj-f nvbnths' Wll?, n l)V Vli'sllissf LIVESTOCK QUOTATIONS I llecpipts, 3S0U head Heavy, 25SB0i: loer: ! ilht.(H hteiidv I'rlma htcers. 116010 73. ( lilcaeo. Jan 12 llOOS UecplniN ii.".- Khlpiilntc Heers l,isei(l, butchers. HOto i li "I nell ijiihit. i.uin. ,Li 1'iu J I mi luii, iii .i, j I'liniui. ini. in ,ivri iiriiis. w y JII.TO. beau 14.S3f H f.3. medium. I 1 1 30, i uws, Jl MltBilO 70, bulls. JO.riO'a' S1J 40(314 HO. Ilnrht, Sit IOCS14 To, llKlit Id M, stoi-kers and feeders. MW10.2.1; fresh llcnls. J14((i14..10. hrai packmi; huws. cows and sprlners. 1H.1(& 173. Calves, rt smootli. (13TS011I3. packini: cows rounh. ceipls liinohead. .10o hlsher. 5ii4i".'.1. 1.1 2.113 7,1. ' HOGS ltecelpts til 00(1 head. 2.1 to 40e ( A l ll. u, rcreipis. -j;i iniu noaa mow neei j toner Heavy, Jl.l a.i; mixed ana joraers. mrnrn milium anil lieaw. rholre und prime. US .1010 2I. nudlum and Koud. Sll 2.1lf1S30. i iiuimon 10$lU.2o: Uchl welKht. sood nnd ilioic., $1410. ccmnion nnd inediuin, $s 23 fall, Uutrher attlo helfeis. IU 3014 73. inuN, )0 3(l&i:i30. ranners and cutters, S3 '-MIS' II .10. veal calves Jilt "(14! 17 7.1. teed'T sixers. tT.T."i012 SO. stocked steers, Stl 71 10 50 SHEEP ltecelpts 23.000 hejd. fetronir. Lambs, JIT 25010 00. culls and common. 111! 7r1!"3; owes medium and uoud. $!) 11 S3, culla and common. f3ft8.S0 rUUburcli. Jan. 12 CATTLE neceipt.. 2200 head Lower Meeit. Jill 111 3(1, heifers. J10 iS 1 1.7Ti cows. $1 WlSf T .10. Calies, receipts, 030 head. Steady. Top, if 21 .10 1IOUS Uerelpts. 0000 bead. HislirT. Idavles, Jl.10l3.3n. heavy Mirki-i. and lluht jorkers. f 1001(1 33. plirs. Sl.lStl.'i 23. MIUKP AND I.AMIIS Itnelpts t.000 bead, htcady. Top sheep, tl2,'ttti lamVs Jill DO. Kansas ( Ity. Jan 12. 1IOC1S Itereipts. mono head Irreuular Hulk. 114 m& 1(7.1; heavies. $14 fiOjfl 1 Ml, liiedluins. l( ii1S; llshts, 111.10(314. 7.1. lisht llchis MlffllnO, parking sows. $13 r,n 1 1 21, pies 112 r.OJtll.T.I CATTLi: -l!e'lpls. 10.000 he.id Slronc. Heavy bees steers, ihnlce and prime, TITS? 18 7.1, medium and cood, J13 nowiOOo, iom inon $10 TftftlS 40, llsht, Koud and Uioli-e. Jl.S HiSi IT 00. common and medium, IS 2,1 iff la, buKher cattu. belters, JU Tu14.:t.1, tows $(l(lfi(ftl2 10. lanners and euttere, $.1 239 (1 (1.1 veal calves. J13 2.1W10, feeder steeps, JT S5s( 13 1.1, stoiker steers, $(12.15); n'l'inKP Ilncolnls, oiiOO bead HlKlier Lambs. $1T4( 111.10. culls Mint lommon, $11 IT 7.1, searllntf wethers, $14310.2.1. ewes, . 7.14(10 7.1: mils nnd enininoii SI 2.1 if 8.10. breedlns f.wvs. $S&11. feeder lambs. 14 501T. , Hast ht. Louts. III.. Jan 12 HODS Ileeelpts. 21.(100 Welk Hulk Jltslltftri. heavy $14T.1W10. inediuin $14 Tf'Tfll (M. IIkIH $11 r.oWU OS. Il.ht llchts I14W1.1, heavy paikltuc sows smiwth $1.1 2.1'rHO T.I, oaiklnc sows, rouah $12 10W13 2.1. plus, $11 suflu T.i ( ATTLF Iteieipli. OS0O steadv Heef steers medium and lieaii rhoh e and prime, $1018 medium and frond $llft.l.1T3. ( om Tiien tUft 10 T"' lulu ..'mwl and choice, $13.10flT lonimini 'ind inidlum. JsiPlll r.O butcher i nidi. In iters J74MO cows $7 12 SO cannerH and i utters $10(ji)7.1 veal calies, llcht and handw weUhl $ Id 50 ft' IT r.O feedr sleds $8!W12. stocker Steers . T 10, Ml, HIIKKC ltecelpts. 110U Itluher Lambs. $15.1.1&lli,2'i) culls and common. 18.7,14 1.1,23; yeatllnits wethers. $12 2.1JB.n0: -Mfs, medium snd 'holce. $TTSO10.B0i mils ami ronunon. $1.25.T2E St3 3.1R1.1 so. Ilt-ht do and plus. $to..10. roiiBhs J13tl3 2.1, stairs $ll(tcll.50. S1IUKI' AND LAMUs Itecelptt. 0000 brad. 2.1 to r.Oe hltther. Lambs, $11 (20 no: Marllnus Slum 17 .10. wethers, $12Q13. ewes $1011. mixed sheep, $11 CO to 12 LOCAL MINING STOCKS TONOrAH STpCKH Cash noy . . . Jim Hutlr .. MacNarnara . Midway Mlzpati Kxt .. Montana .... Nor Star , . . , Hescuo Kula. Ton Ext West End . . . West Ton . . , Allied Dlv .. Alt" Plv . . .. !fcl her Hen Ilur . . .. Hrouuh Ulv . . llll Ida llxt .. Iilv Synd ... Dlv Con .. .. PIvliK'Ild Easl Dll . . . Ilasbrck Dlv . II leh Dlv ... Ilevert Iilv . . Hello Uiv . . . . HoseUu . . Sllier King . Ion Dlv Ton Kasbrck victory Dlv . . Verde, Dlv . . , Zono Hid .(IB .21 .W .1S .0.1 .III .0T .20 DIVIDE STOCKS .10 .0.1 .01 .::i .in ..ii 7 .01 .on !oi .0.1 .04 .2s ,113 .OT Oh 3 .20 ,3S A ii r.LT,..,.. .lt!LitC X VlilfaiD . , .. Aria sinttri ,,,.,1 Unst ButTple, N. y Jua l2,---CATTl.t? pother I(j' ' ' aot.nriniiD stocks Atlanta ( Hlue Hull Ilooth C O I . Comb Crar t.'racki riack .1. Jlnmf 11 II Dalsv 1'loienee . . fioldf Con . . 3oI.tr Mer . . Oold I'ev Great IlenJ Jumbo Kxt Kowanau ... Lono Star . Oro lied Hills Silver Tick , Spearhead . . (ij .04 02 ,iii (13 ot 02 .in 11 .02 11 02 on 04 01 02 , 04 ii,.., 01 MJ8C.BLLANKPUB J. ....),... J'.TO ' '" ri 0,1 11 27 15 .10 1 (1.1 12 30 07 OT 01 :i2 0.1 .00 10 :i .2T .20 25 12 no 0.1 (ir, (ii 0.1 0.1 ni H3 35 10 04 1.1 03 IIS III no 03 04 .110 08 'f 0 We Own and Offer, Subject to Prior Sale or Change in Price the Following RAILROAD BONDS Buffalo, Rochester & Pittsburgh VAb, 1957... Pennsylvania R. U. Gcn'l iy2s, 19G5 Chicago & Eastern Illinois, Cons. 6s, 1934. . . Kansas City, Vt. Scott & Mem., Refg. 4s, 1936 Northern Pacific Ry., Prior Lien 4s, 1997... St. Louis Bridge Co. 1st 7s, 1929 MUNICIPAL BONDS Camden, N. J., Registered 4s, 1926 Omaha, Neb., 4$s, 1941 Fletcher Joint Stock Land Bank 5s, 1939. Cleveland, Ohio. 4'js, 1923 Full Descriptions Sent on Request Kountze Brothers Investment Securities Dept. 1406 Widener Building, Philadelphia to yield about 5.63 , ' 5.50 6.00 , " " " 7.00 , 5.10 , ' 6.00 s to yield 4.30 ft , " " 4.60 , " " 4.50 " " 4.70 John Henry English Representative Bell Telephone Walnut 622 Keystone Telephone -Race 2436 READJUSTMENT OF Maxwell Motor Company. Inc. AND OF Chalmers Motor Corporation To the Holders of MAXWELL MOTOR COMPANY, INC.: I'lrst rreferred stock; Second Preferred citOsk; Common btoik. CHALMERS MOTOR COMPANY: I'lrst Morls-iire Six Tcr Cent Fivo Yoar Gold Notts. CHALMERS MOTOR CORPORATION: Preferred stock; Common stock. and To the Holders of Certificates of Deposit issued under the FUa and Agreement of Readjustment, dated August 30, 1919, for Ui above mentioned securities. S Announcement is hereby made by the Committee as follows! 1. Tho following amounts of securities have been deposited undor the plan: Stock of Maxwell Motor Company, Inc. 66 per cent. Notes of Chalmers Motor Company 11 per cent Stock of Chalmers Motor Corporation 79 per cent. 2. The foregoing amounts of securities deposited, and particularly the amount of notes of Chalmers Motor Company, ar not in the judgment of the Committee sufficient to enable it to declare th Plan operative. 3. The Committee has been unable to secure from the Bankers a Eositive commitment for an extension of the time for the purchase y the latter of the $10,000,000 of new Notes referred to in th Plan, and the agreement between the Bankers and the Committee for the purchase of said Notes has therefore lapsed. 4. Tho time for the deposit of securities under the Plan is hereby extended to and including JANUARY 31, 1920. If. prior to said date, sufficient additional deposits are received, tho Committeo will again endeavor to effect arrangements for the salo of ths $10,000,000 of Notes of the New Company. 5. Tho Committee believes that tho prompt carrying out of the Plan is of the utmost importance to security holders, nnd therefor urges the prompt deposit of their securities. Copies of the Plan and Agreement of Readjustment mayb" obtained from the Secretary of the Committee, or from the office of the Maxwell Motor Company, Inc., Detroit, Michigan. Doted, New York, December 16, 1919. IIARHY UKONNF.B, Cbalrms 4isira v. uuiui. joiin rt. SiounoN. ivu". . II K. KirnN O, B. ltUOHEK, BsersUrr, 80 Drosnwsy. VI. T. City. ytiriii rtfW-MKKS. K UORAO? HABUmO. 'Casta!!!, 1 v ,VytX .-.-' -1' "'V. "-'"" ' t it r- irfc . Mjh' ' ; A .iVi yfvfr -V Jil
Significant historical Pennsylvania newspapers