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, $11 CO to 12
LOCAL MINING STOCKS
TONOrAH STpCKH
Cash noy . . .
Jim Hutlr ..
MacNarnara .
Midway
Mlzpati Kxt ..
Montana ....
Nor Star , . . ,
Hescuo Kula.
Ton Ext
West End . . .
West Ton . . ,
Allied Dlv ..
Alt" Plv . . ..
!fcl her
Hen Ilur . . ..
Hrouuh Ulv . .
llll Ida llxt ..
Iilv Synd ...
Dlv Con .. ..
PIvliK'Ild
Easl Dll . . .
Ilasbrck Dlv .
II leh Dlv ...
Ilevert Iilv . .
Hello Uiv . . . .
HoseUu . .
Sllier King .
Ion Dlv
Ton Kasbrck
victory Dlv . .
Verde, Dlv . . ,
Zono
Hid
.(IB
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DIVIDE STOCKS
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aot.nriniiD stocks
Atlanta (
Hlue Hull
Ilooth
C O I .
Comb Crar
t.'racki riack
.1.
Jlnmf 11 II
Dalsv
1'loienee . .
fioldf Con . .
3oI.tr Mer . .
Oold I'ev
Great IlenJ
Jumbo Kxt
Kowanau ...
Lono Star .
Oro
lied Hills
Silver Tick ,
Spearhead . .
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We Own and Offer, Subject to Prior Sale or Change
in Price the Following
RAILROAD BONDS
Buffalo, Rochester & Pittsburgh VAb, 1957...
Pennsylvania R. U. Gcn'l iy2s, 19G5
Chicago & Eastern Illinois, Cons. 6s, 1934. . .
Kansas City, Vt. Scott & Mem., Refg. 4s, 1936
Northern Pacific Ry., Prior Lien 4s, 1997...
St. Louis Bridge Co. 1st 7s, 1929
MUNICIPAL BONDS
Camden, N. J., Registered 4s, 1926
Omaha, Neb., 4$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!!!,
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