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EVENING PUBLIC LEDGER-ptflLADEIJPHIA:, IHUESDAY, JAKCABY 15, '1920''
Wl
t'
- :? is
t"" "
Mm i ii -r
ij American Ship I
Ll,pna Vjotnmcrcc
if? 1 Corporation
v
'a 4
.
Ji r
W
M
nfu
1.5 V
We have prepared a
pamphlet which gives a
brief history of Ameri
can Ship & Commerce
Corporation and t h e
companies in which it
owns a majority in
terest the William
Cramp & Sons Ship
and Engine Building
Company and the Amer
ican Ship and Com
merce Navigation Cor
poration. Complimentary copy of this
pamphlet on request.
GHANDLE7&GGMPANV
NCOa..ATI
Franklin Hank Mdg.
Philadelphia
Jfrtr York Ilonton
NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS)
INDUSTRIALS REBOUND ON
URGENT SHORT COVERING
Pronounced Weakness of ft'ctvcr Oil Stocks Threatened to
Upset the Recovery Movement
m
mm
m
We spccalizo in
City of Phila.
Loans
Wo offer
3s
555.0CO due Dec, 31, 1921
75,000 duo Dec. 31, 1922
6J.0C0 due Dec. 31, 1923
85,000 due Dec. 31, 1924
50.C00 due Dec. 31, 1925
Prices: To Net from
it.Wc to 4.307c
According to Maturity
Now YorU. .Inn. 177. Tmliii 'i stock
Murket retrieved inncli of the kvouiuI
lot in flip prccedlnc sfsvluu mi lUionil
cm pi ins of the liort interest. IVnis of
et more strimjeut mnnej rates con
tiinipt! to hntiR over tlio tinaniitil 1U
trifl, but tills wns counterbnlnneed for
the time being by technical Inlluemcs
Us tlie market proved to be in a much
oversold condition.
The recovery movement was neceler
nted by the failure of the Federal lte
spi'vp bank to makp further ntlvuiiccs in
discount rates us vviii predicted r ester
day, but the continued strinsencj (if
the tnoiipy market was relleeted in the
npeninc; or renewal rate of ') per i enl
for call loans. It was nKo understood
Mint further heav withdrawals would
e made ii government deposits tixln.v.
t the same lime further evident o of
Hie disiTimiuatioii liping exercised by
flic loaning institutions as recording
ollateriil was piesented in the pro
notiiiceil weakness of several of the
newer oil companies.
The enkn"s of several oil share", in
fact, for a time threatened to upset
the reeoverius movement. Apparent
lirsent liquidation and "stops" nla.ed
linvoc in seve-al of the memliers of the
oil group, uotablv Middle States Oil
and I'moii Oil, both proving conspic
uously uluerable. The lirst named suf
fered a peniendieular descent of IIP
points, to 4"'i, before nn semblance of
support was forthcoming. I'nion Oil.
the other target, broke fi points, to
ill1. Transcontinputal Oil, which suf
fered the brunt of the hammering in
the preceding sessions, showed more resistance.
appearance of enjojing a tone, of ex
ceptional .strength.
The early advance assumed further
dimensions dining the lirst hour, es
pecially among the motor, stool, equip
ment and shipping shares. fienernl
Motors. United Stntps Rubber, Crucible
Steel. Republic Iron and Steel, Bald
win Locomotive, American Locomotive,
Atlantic Gulf and West Indies and
American International were the out
standing features at gains of " to G
points. American Woolen and Indus
trial Alcohol also strengthened mute
ria'ly. The rails and the coppers con
tinued to keen in the background
The general list became more or lcs
iinett'ed on the pronounced weakness
manifested by the new oil shares, but
anurt from n few specialties prices
held ground well. Columbia Ornpho
houe was n notable exception, falling S
noints.
Toward mid-day, despite the n per
cent call loan rate, the lecovery move
ment wns resumed, carrying the more
active leaders back to and above the
high levels of the first hour. The ultra
profession.il caliber of the movement,
however, deprived the rebound of much
of its significance, in that it was ob
vious that, outside of the urgent demand
of the overextended short interest, the
buying power was still very limited and
curtailed by reason of the stringent
money market conditions.
Stocks mnile another demonstration
of strength in the afternoon, their fur
ther advance coinciding with word from
Ueserve
W'o . l,!rf ,,. fl.nt tllO T ,'IIPrill
From the ery outset th; ceueral list i rnar,i hlul adjourned without consider
showed a strong lucliuatior. to moo;in,. iutor,t aM discount rates. Some
up. One of the more striking features , . s wcrp KQm ,.(,(im.C(f however, on
or the cafrly rebound was the progress mt wenknc 0f mini.r (dls and
made in recovery ot dividends bv a mint- klll,.!.i.iM
her of the nothe industrial stocks which i "Duiauie-.
sold "ex" at the opening. All the re- I Another tally from this reaction of
cent features of weakness, however, i me midscssion occurreu m w isi
I made substantial recoveries in the first hour, rails and metal- til-o making
h.df hour, givim; tli enilv market the moderate advances.
104 SOUTH
SWlf
till V
FIFTH STREET
SfcJl
"Vf
-Ws
w
Pliila. Nat. Bank
Warrants
Bought Sold
C. K. Garrison
308 Widener Bldg.
Bell Phone, Wal. 419S-41S9
Keystone Phone, Kaco 2260
ii
I
MARKET OVERSOLD;
RECOVERED FAST
Federal Reserve Board Dis
claimed Any Intention of Ad
vancing Discount Rate
Philadelphia Stocks
SHORTS RAN TO COVER
.
M
m
-'Rock island, krk.
& Louisiana
. First Vzs, !93A
These bonds are now selllnc on the Stir
York Exchange between 03 und t. Held at
thts level about 0.10!J..
Te feel that they present n i.plend'd Invest
ment opportunity at any figure under 70.
All orders executed at Market
Car stairs & Co.
wS
?hj
BIfmberfl Philadelphia und
New York Stock Kxihancn
1419 Walnut Street
71 BroadHay. N Y.
m
m
V.
ilH
'Rights to Subscribe
i, PHILADELPHIA
; NATIONAL BANK
BARNES & L0FLAND
147 S. 4th St
PMi
W:
Phila. National Bank Rights
W. R. ABBOTT & CO.
JStock Exchange Building
Locust 2654 : Race 992
New YorU. Jan. 1.". The New ork
f-KveniiiK Sun's elo-ins linaneial review
I today s.aj s :
Technical conditions within the mar
' Ket and removal of inimediate prob
abi'ities of an inereae in the Federal
Reserve tediMouut rate brought recover
of good inoiiortion- in tod.t'- price li-t
of stocks. 'L'he inntemetit appeared to
be one of tho-e orniuuiil bnlKCi which
are to be oxpeiteil in iirofe-iininO ner
f orniances (-ueh at have been in c idenee
since the tuin of the jear.
Si lli:ig was carried much too far yes
terduj because it wa-. then believed that
an advance in the discount rHle was irn
"endins and hecaii--e it mn understood
that the local lescnc bank hud for
warded a lecommendation to that elTect
o the Tederal ltesere lSoard at Wash
ington Today the -horts ran to cover bec.iu-e
The board di.-clainied any intention of
i taking sue h action for the present and
, denied that it had received a communi
cation of that nature from the New York
bank. lim covering lugan in some
niea-ure before the disclaimer lume t'i
hand on tirhuical giounds and it v.us
accelerated bj more stable money rates.
Kenewak were 1 per cent higher than
jesteulay, that is to my, !) per cent, but
the late was maintained at that level
through most of the .session.
There was, of course, the keenest in
terest in the proposed international
economic conteretiee. a movement of
world-wide impulse with signatories of
representative hankers and economists
of the cotiutr.v i lost couccnicd in the l'f
hahiljtntion of w u Id trade and indu-tn.
Jt marls tin stining of the pub'ie
loiistienee toward responsibility for
bettermi nt in international bunuc ie
hitions atifl a Mich, 1 certain to neu
tia'ire the pessimism With which the dif
ti. lines it In tent in the great problem
have I'M, npud'd. Thib was to somi
extent n fleeted in the stock niaiket
nltho nj'i the foreign exchanges failed 'o
reiiud auv constructive response.
Sei unties gains tanged from 1 to ."
point- cr more in moderate trading.
The -t.nl- inpiirfi and motors were
will bmight and the oils did better, with
the one ".cptinn of .Middle State.
whn Ii -rfT r -d a bad brpak of moie than
III p.mits TIuto were numerous strong
leatiiris unn'iig the specialties as well.
The mils were, as usual, neglected, the
onlv ii .Ktinuur) isoue in that list be
ing T' xas and I'acific which got a
-itha'k fit sympathy witl: the dubious
-IHl'ltli'll 111 Oils.
Net
. lllch Iow Close chKi'
410 Am Strs. 4l)V. 4(l'i 411-f U
llll) do pief iluC YU. V2:,..
14 Am (im. T,-2 .r.l ol ..
.".1 :.m S 14is 14'; UK..
1IIO .ISald I..1H."- II--'' 2 H'-12 -:i
Km C-u S..UO" -07 "JH7 1W.
-ikoi:i sior..i:wai is", inn.. I'Vi
oDOt IM'em m in in 1
l.'iicxA. ffi'. :i:5l2 an1!..
llll.-. Lk S Cor 20a4 'Jd's W'i V
HO Leh Xav. S4 ('.! M ..
sx 1 eh Vnl. 44 4::?i 4:ji
."r.l I'a K II. 42is 4'J 42i's..
o57 I'hilu l!k
war ...12." 120 121 II
100 -Pliila Co W'.nA VA)'i :n 1
10 do c-m pf 35 V- "5 ".5 'A
lS5:i I'll i:iec. 251'- 25 25 Vt
40 P K T tc 27:K. 271, 27'4 V-
5l!0 Pli Trae. 02', CO 00 ;)i
100 Ph & W Cch i', C.a; ii
200 Ton Hd. 3 3 ' 3 ..
l.'OTon 3Mn. 2 2-i; 2:'; -V
15 ITn Trae. 30 3(1 3d i'.
450 T G I.. 55 r.-J& 55.'s
:vr N j.is.-. is-. ' isr. ..
Inr. w r i l' orf t n oi
jt n;u ire.s r"j o i)l . .
u West C. . 75 75 72 . .
Ex dividend Phlla. Co., 73o: Crucible
Steel 3
tN-n chance mad' by comparison with last
salo on New York Stock Exchange.
Total pales, 7151 shares, compared with
4s7 shares yesterday. Thus far this week.
I'D 7110 Khareb. samo period last week, -a,-I'sli
ehares.
SaleH In 1t()NI) Net
Moon Hint, Low Close chse
3 2-5 Am &
I.'lec 5s... S2 P0
1 Bald Loco
1st 5s ... no no
2 fltv 4s 411 OS !7's
1 klce i: 1'eo
Tr 4s . . . 05 U5 05 . .
10 I.k Sup in
5s '. 01 111 01 i
2 I.eh Val Os.101 101 101 1 Vj
0 Lib lionds
, 1th 4,i&. 01.00 01.52 01.52 ,5S
'.". VI" 45',s... 0S.04 UStil 0S.O4 .30
.! -sat Prop
S2 2
00 ..
07..
4-0s .... 30 31) 30
3 Phi la Co
1st 5s ...100 100 100 ..
3-1(1 Phil Elec
1st 5s ... ni no 00 a.
2 Uead gen 4s SO f0 SO . .
2 Span -Am I
Os 101V.' 101 U 101 ii ij
1 V S Stl 5s.. 00 00 )!) ..
5 T'n Hy Inv
5s 74 71 74 " i .'.
1 We's Co 5s 08 0S 0K-r ''
3 Cork Ky 5s S3 S3 S3 7.
, rt.mdi. SSI 200, compared with J32.I0J
iMM'erdav, Thus fur this we. k, J171.1UO
Suire eirlod last wiek, JIS3.-100
MONEY-LENDING RATES
NKW YORK Money on cull opened
! todnv at 0 per cent for lending and
! renewing.
I The time money mnrkit is reported
Iver.v firm. A few loans are being made
at S per cent and SVs per cent on iu-diii-trials,
but offerings are negligible.
No change is reported in rates or cou
utiotiH of prime bank acceptances or
uenautile paper.
MARKS TOUCH ANOTHER LOW .llllIIBLI'IIIA-rall. 0 percent;
time, li per cent; commercial paper,
i three to tix months, 59t per cent, and
Cables Quoted a 1.79 in Market for ,,x months, 59i(5tl per cent.
Foreign Exchange
New York. .Tan. 15. The foreign
exchange market showed further de
clines in the onening iicures following
"'Nri Jersey St Rwv Cn 4s 1Q4R losses of 1 t.i 5 points from jesteida.v's
jB.ljin. jersey ji. iwy. vo. -ts, v-o (lo, Itnlinii Phangp feu r, poInts
i U.?u?S tfassalC Ot 1NCW K t . lr. Ds. SO from the lust ve-teiday. .Murk cables
Ivli XA.vMt.'v.P v ,' on n r inor .nade unotlier new low record at l.M.
&I' "v SffifiWyiK Urange OC rassaic IV. Jb, IVJO , Ste-Hng showed a loss. The general
ifctipriirwRa
,v
LONDON Money is quoted at 4 per
cent. Discount rates, short bills 51!
per cent; three-month bills 5a', per
eent.
ful?Jic Service 7s, 1922
111 ' IgCgm
$& t4''ltoLand Title Bldg. Hj.e lit
MM"'. t -"
'W i rr
National Bank
of South Africa, Ltd.
lft Wali Street. New York
tete fi. E. Saunder, Agent
v over iy" Dij;it:o linen
"''Bembay Antwerp London
market lost from 1 to 4 points
Quotation i were:
Demand sior'iug 3.7H4, cables 3.72;
franc cables 11.35, checks 11.37; lire
cables 13 54, checks 13 50; Swiss entiles
5.01, check 5.03; guilder cab'es 37'n,
checks 37 s;; pesetas cables 10.10.
chec ko 10 ; Stockholm cables 20.S5 ;
checks 20.70; Christiania rubles 10.50.
checks in 35. Copenhagen established
a new low record at 17. S3 for cables
rl'-l
I MAbTiK
tSpnisIi, French, Portuguese
KanlUlr. nueotb, (urreetly,
I iy ffie DUBIN method
(Mfih ! Atwarican Linrjuisu'c School
,a l,L .- i fa,!-. Mid".. 17"! Uw'nnt St Sure. 4t4t
.t"f F- .
izr
M
Boston . . .
and 17 10 for checks. Belgian was jhiiad iphia'
moled easier at 11. -o for cablen and F'Mmi&nu ..
U 27 for checks. An'tt"1! . ! :
In mid. afternoon marks contiuucd tc .cnicatru
kjiiv tnmlilnir 1.78 for checks and 1.70 I ?: I.ouls
for i ables Lire were quoted 13. GO foi
cables and 13.82 for checks. At 11.12
for inhles mid 11.44 for checks, francs
'showed a dec'ine on the week thus fir
I of 17 centimes. Demand sterling is
wiw- about 7 certs from the extreme low
'record. It is quoted this afternoon a
shade above the early low nt 3.71'-s and
cables 3.717;.
Reserve Banks' Discount Rates
Ofhrial discount rates at the twelve
1'edera! Ueserve banks were as follows:
(The first column gives rates for all
periods up to and including a fifteen
dnv maturit.v ; the second for a period
of sixteen to ninety dajs. The third
and fourth columns give rates for re
discounts of collateral loans recured by
government bonds or notes.)
Com'l paper Govt paper
HI to 00 ill to tin
lifla)auai jamjs as
. . -4 V L
J
NEW YORK STOCK EXCHANGE TRANSACTIONS
Sales
20f)
a no
B zoo
2001
300
loo
100
100
190
400
10 V)
3801
100
10(10
too
10300
2)0
0
6000
800
00
800
C110
l-'OO
aioo
4)00
too
-'DO
73)0
Woo
300
loo
13010
ts.-.io
too
SCO
.'no
too
3003
nio
130P
10(1
loo
610
.".9(1
Dlv
In J
Advance Ilumely ,,
6 Advance Humoly pf .. 7014
0 Ajax Hiitiber 8
. AlliaChalmera iHH
1 Allla-Chalmers pf .... 81)
Am Arrlo Chem oo .
0 Am Agrlo Client pf ... 0(1
1 Am Bank Note pf .... 45
8 Am licet Suprar am
8 Am Doch Magneto ..U!5
i'. Am Uosch rta II
Am Can tlH
7 Am Can pf SSi
12 Am Car & Fdy 13!)
4 Am Cotton Oil S0M
.80 Am Druss'st Syn .... 14 Vt
.. Am Hldo & Leather .. -0U
7 Am Hide & Le.ith pf..I14ft
0 Am Intermit Corp . ...111H
.. .vm-t.li j-ranco engine . in
3 Am unseed
7 Am I.ln'eed pf
l Am Locomotive
. Am Sh p & Commerce
4 Am Smelt & lief
3 Am Steel Foundries .
7 Am Steel Fdrles pf .
7 Am Sugar Ref
10 Am Sumatra Tob . .
8 Am Tel & Tel
20 Am Tobacco
6 Am Tobacco nf now
. Am Tob See temp ctfs 08 V
7 Am Woolen 13'4
7 Am "Woolen pf 10H
. . Am Writing Paper pf . 55
.. Am Zinc Lead & Sm,
C Am Zino Ij & S pf..
4 Anaconda Copper . . .
.. Assets Realization .
. . Asso Dry Goods ....
6 Atch Top & Santa Fo .
S Atch Top & S F pt.
10 All Gulf SWISS,
Auto S C tern ctfa pf
7 W
95 ii
90 Yz
27
OP-Vi
,. 444
, . 03&
..137
.. 3W
, . 07H
.2G7
no '-a
610,10 3.50 Baldwin Locomotive
1700
400
200
12 0
100
12010
100
1400
100
00
310
.ll'n
910
loo
711
1010
200
2600
S-'fl
100
3000
100
1710
100
1S10
100
100
1.M0
.T0
400
300
19)0
100
800
600
10 0
800
1700
2110
15S00
00
400
100
300
34 1
200
651)
200
7110
til)
111
20
100
7 ")
400
:t O
200
IS 0
110
151.1
100
20 '
100
lfl
;ioi
800
100
:4io
100
lino
7210
100
100
."())
700
700
3-100
.Sill
500
100,
20(1
21)9
200
3610
s:no
3900
1690
100
510
2)0
200
;nio
100
Baltimore & Ohio
4 Baltimore & Ohio pt
8 Barrett
. . Bethlehem Motors . .
5 Bethlehem Steel . . .
3 Bethlehem Steel B .
. Booth Fisheries . . . .
. . l!kln Rapid Transit.
20
. 5$ 34
. 62 !4
. 5
. Olis
, f3'4
791-i
.101 i
. 30 A
.11 1 Vi
. 3114
. 4112
.125
. 2S!4
. !)3
. DISH
. 14 H
. 13 V
57 'a
12S
814
2314
:ir.14
Ml34
rr,Va
Bklvn R T ctfs of detf. 8 'a.
4 Bruna Term A It II. . . 7!4
10 Burns Bros HO
.50 Butte Copper & Zinc. 11 '4
.. Butte & Superior Cop. SSli
.. Eutterlck , .' 21
.. Caddo Central O & II. 22
0 California Packing 81
7 Cal fornla. Packing pt. 7l3l
..California Petroleum.. 40'2
10 Canadian Pacific 130?
7 Cisa J I Thresh M pr 09 li
C Central Leather S'4
7 Central Leather pt .JOS
1 Cerro do Pasco Cop .. 50 Ii
4 Certain-teed Prod...
5 Chandler Motors . . .
. . Chicago C,t Western
Ch' Gt Western pt..
.. Chi Mil 8s St Paul ..
.. Chi Mil & St Paul pt
T Chi & Northwestern
S Chi & Northwest pt."
. . Llil Rock Ihl & Pac . . 2014
G riii R I & Pac 6ri pf.. r0
7 Chi R I & Pao 7 pf.. "0
.. Chile Copper l"1
3 Chlno Copper 38
.. Coca-Cola 39V4
i Colorado Fuel & Iron. 42?a
4 Columb Gas & Hlec... 3!4
1 Col Graphophono .... 5?4
3 Consolidated Textile .. 28
1 Continental Candy ... 12 Va
5 Continental Insurance
. . Con Interstate Cal M .
1 Cnrn "Prnrluets Ref
7 Com Products Ref pt WO! 2
12'CruclMe Steel 2IM
7 Crueiblo Steel pt 100
. . Cuba Cane Sugar .... 51?
7 Cuba Cans Sugar pf.. 81 14
9 Delaware & Hudson .. 9
.. Denver & Rio Q pf... 12V4
1 Drmo Mines 12'
3 Elk Horn Coal 26
7 Kmerson-Brantlng pt. 90
5 Hndlcott-Johnson ....135'A
7 Endlcott-Johnson pf..l03?8
.. Erie I?.
Erie 1st pf li'(f
Famous Players-L ... 87 V2
Federal Min & Sm pt. 29T4
Fik Rubber 42 U
Fisher Body 122?i
VTrpennrt TflSAa 33
r.aslnn Wins & Wig. . . 17'
G General Cigar
8 General Electrla . .
12 General Motors . . .
G General Motors pt
G General Motors deb
4 Goodrich B V
7 Goodrich B V pf
. . Grey & Da Is
7 Great .N'oithem p'
4 Gt Northern Ore ctfi
Hartman Corp
10
Haskell & Barker Car. 59
tlllnnU Central 00
G Inspiration Con Cop . 36 V
. . lnterboro Con Coip .. 4
. . Inter Con Corp pf... 12
. . Int Agrlcul Corp . . . 20
5 Int Agrlcul Corp pt.. SO
G Int Harvester '. 127
7 Int Harv pt new 1H
. . Int Mer Marine 5'i
G' Int Mer Marina pf....t01ls
.. International Nickel. . Si1
. . International Paper.. 82
6 Inter Paper pf Mpd .. 777'8
. . Iron Products Corp. . 47
Jewel Tea 18'4
7 Jewel Tc. pf 4254
2' Jones Bros Tea 2(1 v4
1 Kan.-as City Fo p .. 1553
High Loir
41ft 4I?4
7014
4714
8894
r.o
no
45
in
us
4 74
52 4
0841
13G6
50 H
1414
SO
113
10014
14
70 W
91 '4
97
20 Ti
67
43 14
03
13G
P0
97
26G
9014
GO V
14614
101H
54 ',4
1914
5 8 4
61 H
4 91
CO 14
8291
79H
162
no
lll'4
31 'a
46 H
12514
2S
9.1 T4
91
14
13
h'A
. 714
101 U
o?4
27
24
22 '4
SO
74 34
. 3S?4
129 14
9914
9314
108
5(1
31 14
12114
814
2314
3594
SO1,
S5
us
2014
1,0
i9H
19
3S14
3914
4114
G2
17?4
2794
1214
82
19
8194
10614
202
100
50
S4
94
12 aa
1214-
25
SO 91
135
10394
12 14
1914
V.
20 Ji
42
12294
31
1714
71 Ja
1074
313J4
S5
8294
751
101
15
77Ja
3814
100
50
90
Today'" Not
Clone Chee.
4191 1- l'4
1014
$394- li
4891 114
89 - 114
80-1
00 1
(5
02 4- 1
11014 214
8 114
4 1
984 - Jt
139 294
5094- M
14?8 14
20 14 91
114J4 94
11014 114
14
7914 294
9514 ttt
fl9'4 2V4
2714 'Jt
6914 214
44 94
0314 ..
137 1Vi
029-
9794 94
267
0G14 Jt
67 74 194
15214 514
10494- Ji
5414- 1',
20
5894
(.2 4-49-C014-
8SH 1
7014 1C3
30
H3T4 414
3114 14
4714- 14
1245 1
214 14
93 J4 294
9594 194
1414 14
13
si4-714-
110
1114
27 94
24 -2214-
80 - T4
7494 . .
4014 114
130 94
9914-
8314
108
5614
r.7'3-
l"7?a
8!4
2314 4
.1G94 US
2614
60
61 54-
19 -3814-39J4
4214
13 -
5
Dlv.
Salt in I Rich
100 .. Kelsey Wheel 7814
2900 4 Kclly-SpB Tim 11014
100 8 Kelly-Spg T i Pf ..10354
13)0 2 Kenneeott Copper .... 3094
7100 1.20 Keystone Tire & Rub . 3014
2100 0 Lackawanna Steel .. 80
400 .. Leo Rubber & Tlra ... 3191
509 3.50 LehlBh Valley 43J4
100 7 Llrectt & Myers pt . .108
1000 .. Loews Co 32
2400 .. Loft Corp 2394
400 12 Lorlllard V Tobacco ..17014
200 7 Lou'svllla & Nashvlllo. 11014
300 1.75 Manhattan Shirt 3294
100 7 May Dept Stores 125
.600 .. Maxwell Motor 3114
200 .. Maxwell Mot ctfs .... 3114
100 . . Maxwell Mot 2d pf . . .F279
50300 10 Mexican Petroleum
100 2 Miami Copper
Today's Not
low Close Chre.
105100 1.20 Mlddln States Corp ..
2800 4 Mldvnlo Steel & Ord .
200 4 M St P & S St M Ii L
200 .. Minn StP&SSMpf..
900 .. Missouri Kan, ft Tex .
900 .. Missouri Puclfla ....
300 . . M ssourl Pacific pf . .
200 n Montana Power ...
700 4Mulllns Body
500 :i National Aetna
400 . . Nat Anll'ne & Chom.
100 7 National Cloak pt . .
2500 6 Nat Enam & Stamp.
1100 5 National Lead
200 7 National Lead pf . . .
200 1.50 Nevada Con Copper .
200 . . Now Or Tex & MeX .
1200 5 New .York Cental ...
300 2.50 New York Dock
14
J4
'lJ4
J4
J4
14
94
14
314
94
82
19
MVi
.. 7214
.10794
.31814
. 85
. 8394
. 7734
..101
. 43
. 7S'
. 39
.101 H
12J4 ..
82 - a
19 94
M14 4
10614- 14
"(714 4- 5
100- I- 14
sii4 4- 114
84 - 14
S 9b
1294 .
1214 ..
20 14
89 94- 14
135 - 2
10394 14
12 - '4
1914 14
kG 1- 1
2974 - 14
4294 1
12294- 394
33 -I- "94
1714- 14
7214 114
16794 .
316 -I- 194
85 - 14
fc314 9a
7794 294
101
1000
100
9000
700
3800
3800
.10(1
900
390
100
100
MM
3490
200
1500
GOO
400
1800
300
300
4100
13700
100
G600
200
200
400
700
200
100
700
2900
50.)
GOO
2000
100
too
27109
4900
"too
New York N H & H .
5 Noith American ....
7 Northern Pacific
5 Nova Scotia S & C . .
4 Ohio Cities Gas
.50 Okla Prod & Ret,...
. . Ontario Silver Mng. .
. . Otis Steel
3 Owens Bottling Mach
6 Pacllio Gas ii Eleo . .
1 Pacida Mall
6 Pan-Amer Petrol
.. Pan-Amer (B)
3 Par'sh & Bingham . .
3 Pennsylvania R R . .
. . Penn Seaboard Steel
.200
. 21 14
. 5794
. 5114
60
9114
,.
.. 25'
,. 4094
,. C494
. 49
, . 37
. 67
,.101
,. 8414
,. 8294
..109
,. 1GJ4
. . 43
. 0894
. 4494
,. 20W
. 55
, . 7894
. 73
. 4714
. 0U
. 914
. 3791
. GO
. 5714
. 3714
V 97
. 94
,. 4314
,. 12 J4
3194
Peonies Gas Chicago.. 37
. . Pera Marquette 2874
. . Pero Marquette pf . . . 60
5 Pero Marq prior pf.. 5614
3 Philadelphia Co 40
.. Perec-Arrow Motor .. 7394
8 Pierce-Arrow Mot pf.. 106 14
. . Pierca Oil 2014
8 Pierca Oil pf 0114
5 Pittsburgh Coal ot Pn 6114
. . Pittsburgh ffffVa .. 2814
1 Pond Creek Coal 2594
8 Pressed Steel Cax 98
7 Pressed Steel Car pf.. 102
8 Pullman 115
5 Punta Alegra -Sugar .. OO'e
8 Ra lway Steel Spring . 97 94
2 Ray Consolidated Cop. 2194
4 Reading 759
. . Remington Typewrit.. 80
.. Ileploglo Steel 4514
C Republic Iron & Steel. 113 14
Republic; I & S rts
Republic I & S (cash)
12000 8.70 Royal Dutch N Y
la
3 'a
12
20
SO
12594
til
43?4
9S '4
23J,
79
777a
Hi3)
18
427a
214
453
15 !4
7A14 !'
39 14
lot 14 i?o
59 1
90
5014 114
374- 14
12 '4
20 -80
4
127 114
4494
9S'4
21
8014 114
777a 94
4094 - 14
is - 114
1274 - 14
2GH I
1594 94
14
55
14
1
1
194
800
200
200
1500
500
100
9C0O
33S09
2100
8800
COO
GOO
S00
42700
200
409
100
1500
11090
100
200
72)0
1100
10030
1U0
37710
200
100
40109
1200
200
200
190
9100
100
5300
11700
15500
1550O
700
500
13510
000
2400
200
1300
100
200
600
1100
too
400
200
139U
1710
.00
1510
(in 10
f.oo
98.111
750
G
G
"5
4
7
7
5
3
io
1H
, 11394
.10714
. 1614
. 23
G114
. 1714
. 20'
.227
. 88J4
. 4t
. 7474
.10014
. 2154
55
'. 7574
.inc
.101
.11914
. 4614
. 119s
201
187
.18514
. 3714
. 23
. 9214
St Joseph Lead
St L Southwest Pt. . .
St Louis & S 1st pf. . .
St Ij San Francisco .
Saxon Motor
Sears-Roebuck
Shell Trans Trading .
Sinclair Consol Oil . .
SIoss Shelf S & I
Southorn Paclfta . . .
Southern Railway . . .
Southern Railway pf .
Stromberg Carl)
Studcbaker
Studebaker p
Stutz Motor
Superior Steel
Tenn Cop & Chem . .
Texas Co
. . Texas Co full pd
.. Texas Co 30 paid
. . Texas & Paclflo . . .
.. Tidewater Oil rts. ...
G Tobacco Products . .
7 Tobacco Products pf..l04'B
.. Transcontinental Oil.. 27
1 Twin City R T 30
.. Un Ry Investment ... 1114
.. Union Oil 3394
10 Union Paclfta 12214
4 Un'on Paclflo pf G794
7 United Drug 14794
10 United Fruit 190
3 United Retail Stores . . 8974
.. US Express 31
2 U S Food Products .. 7194
8 U S Ind Alcohol 108
8 U S Realty & Imp .... 5694
8 U S Rubber 129 14
R U S Rubber 1st pf 11414
6 U S Smelt & Ref .... 72 14
5 U S Steel 10094
7 U S Steel pf 11594
, G Utah Copper 7714
. . Utah Sea 10
.. Vanadium Corp 53 14
4 Va-Carollna Cbcm ... C014
8 Va-Car Chem pf 11174
.. Vulcan UetlniilnK .... 2914
.. Wabash 794
.. Wabash pt 2214
.. Western Maryland .. 1074
7 Western Union Tel ... 8714
4 Westlnghousa E & M. . 52J4
4 White Motor 0194
. . Wheeling & L Erlo . . 12
5 Wilson & Co 7614
1 Willys-Overland 30
.. AVisconsin Central ...31J4
Worthlngton Pump . 94 '4
fi Worth Pump pf B .... 7314
Bx-cllvideml.
7814
133
103 J4
3014
37
84
3194
4391
108
3114
2314
10014
11014
3294
125
31
3114
2794
194 14
24 V4
4014
5014
GO
0114
8?4
25
40
6414
4894
3014
T574
101
8274
81 94
109
1014
42 Vt
1814
4494
2594
55
7894
71
4594
9
0
3674
GO
5714
3714
95
0214
132
42
3114
3614
2814
40'
50
30J4
71
10614
1094
94
61
27'
25
98
102
11314
8914
9094
2114
75
8G
451
110
74
11394
10514
1G
23
6414
16J4
19
227
87
42J4
74
9974
2114
5194
74
103
101
117
4614
10 Ji
103
187
185
3494
23
88
10414
25 94
30
1114
30(4
12114
67
113
193H
88
31
7014
10514
54
125 '4
U39i
7114
104J4
11514
75'a
10
62J4
C314
lit
2814
714
221
1074
87
5214
6094
12
76
287a
30
9114
73
7814- '
110 6
10314 14
3074 . .
39 U4
85 8
3494 94
1374 V
108 - Yt
3194 . .
2314 Jt
10914- It
110' 14
3294 J4
125 2
31 - Jt
3114- 14
2794-
19894 5
2114 J4
4391 -1V4
1094
GO 5
9114 '
894 - J4
2514 J4
40944-
04 J4- 94
49
37 14
C574 H
101 - 94
8414- US
8194 194
109 - Ka
1614 1
4214 214
1894 Vt
4194 H
20'4 14
55
7894- 1
732
4074 1J4
oj4 v
0 14
3794 w
60 1J4
6714- V
37 J4- ''t
9694 3J4
9314
4314
12
3114- XA
37-1
2874 i4
50- 1
5614 1J4
40 1
7394 2J4
10014 - ?8
1974 - Jt
H114
0114 Vd
2814
2594
981
102
115 114
0014 U4
9794 lit
2194- it
75 - Jt
80
4514- 94
11214 31b
114 14
11394 314
107' 1
16
23 - 14
6114
1714 74
1974 Vt
227 - 1
8814 1J4
4394 IJi
74-14
10014 94
2114- 94
5194- 9a
7514 114
10(1 394
101 1
11914 J4
IO'- 14
11 - 14
19894 294
187 - 1
185 J - 3
3554- 174
23
9214 394
10114 2?
26 J4 1E3
30 - 1
1114
35 - 14
122 r- 14
6794 1
113 - S
105 2
LOCAL PRICE MOVEMHWiT-
CONTINUED VERY MIXED
. t
Philadelphia Electric Freely on Taj) J. G. Brill Preferred'
Placed on 7 -Per Cent Dividend Basis
For some occult reason tho local
market failed to respond to tho sharp
rebound in New York, which wns pnrtly
explainable by the fact that technical
rather tlinu outside conditions were en
tirely rcspousiblo for thu llaruhack on
the bear pat ty. 1'ricc movement' of mot
of tho local stocks were mixed nutl
incited initiative. Except In n,fcv' scat
tering instances the changes werc-agnin
confined within narrow fractional lim
its. About the only interesting news de
velopment, from n local viewpoint, wns
tho announcement of the quarterly div
idend of 1 per cent on J. O. Urill
preferred stock, thereby placing that
stock on n 7 per cent per nnuiim basis,
lteceut distributions wcro nt the rate
of 1 per cent quarterly and nu addi
tional dividend on account of accumu
lated hack dividends. These, however,
have been liquidated, which permitted
the board to restore tho stock to the
fixed 7 per cent per annum basis, No
action was taken concerning the com
mon stock dividend.
Fresh liquidation appeared 111 several
narts of the list. At the outset Lake
Hupcrinr Corporation wns pressed for
sale which had nil the earmarks of
liquidation of weakened marginal ac
counts, depressing the price nearly ?1
to '20Y. When this pressure relaxed
the stock rallied to '20. Philadelphia
Klectric was freely on tap, but was well
absorbed at par, nt which price the stock
seemed to bo stubbornly pegged.
Elsewhere on the list the trading con
tinued on the same limited scale with
only slight fractional price vnrintion.
Electric Storage Buttery recovered $1. 75
of vesrerdav's late reaction, advancing
to 133!Ji. Philadelphia National Bank
warrants were $1 higher at the opening
nt 125, later fell back lo 121. then r.i
lied to 122, then declined a
to 120. United Gas , Improveme", ?
on very small sales yielded M to Si ,
American Storts continued in modern!
flnmntirl. nnil wna KA 1.11 -ri0
4fiE 'Am.; i n"" "" at.
Americnn,.Oas on smnli i.-
actions had a .spread ,ofSl between i
and 02 Oddvlot Im WuSSS
Pennsylvania, Bailroad hnd;17cliign Nay-
UnexplnincS' weakness; .aiyclopcd i
tho local street, railway shares" In it, ,
last hour. Philadelphia;. Tron was
freely offered, which ,se,lng' caused
decline of $2.75 t5 "CO1 Union Traction
at the same time oh small j?nlei dronned
HO cents to 88. anil Philadelphia Rap ,1
.Transit suffered n similar 16ss, declinC
to JJ'i. ' -. "
It the showing ofUhe York nail
ways Co. for lDli) may be taken as a
criterion the utility corriorations
throughout the country arc in fair wav
of recovering froin the effects of the
Wlir conditions nud'the. benefits of In
created fares. ' The i annual report of the
York Hallways Co. showed interest on
the $4,038,000 bonds outstanding was
earned one and three-quarters times
over. The balance over fixed charges '
ami preferred dividends, was equal to 4
per cent or $2 a slJure on tho 50,000
shares of the common stock.
Tlie combined income statement of
the York Hailwuys, Edison Light and
Power and York Suburban Land Co.,
showed gross earnings of $1,3G0,215
compared with $1,001,851 in 1018. Op
erating expenses were $775,500, against
$043,080 in the previous year, leaving
a net of $418,203. as against $311,212
in 1018. The balance, after preferred
dividends, wns '$100,008, compared
with $1018 in 1018.
SCALPING OPERATIONS
THE FEATURE IN CORN
Strength in Hogs, Weather and
Stability in Cash Market
Factors
8814 14
31 14
7114 9b
10714 3
54J4- 9a
12814 394
111 - 14
7214 Vt
106 114
11594 14
7614 lit
10 - 14
6291-
0014
11174
2914 I-714-22144
1074-
8714
6274 ..
6194 -1- 174
12 14
'014 1J4
30
3114 314
02 194
73 - 394
U4
CHAIN' untr WEATHER FORECAST
rhlrnno, Jan. 13 Illinois, Missouri
Wlrconsln. Iovvr. North and boutn BaKom
. Unsettled tonlsht and Friday, nrpliablv
snow Mlnneota Snow probablv tonlcnt
nd rrltlav, not much change In tempera
ture. Ncbraulm Increnflnar cloudiness
tonight, probably followed hy light snow
or rain Trlday: colder ITIrtav northwest
nnd extreme southwest, l;""?10"1,1,
cloudy tonight Friday probablv llKht rain
or snow; colder Friday. Montana and
Wvomlnif Mostly cloudy tonleht and lrl
day; probably siiovv
Chicago, Jan. 15. Operations in the
corn market today consisted mostly of
scalping, and prices moved irregularly.
Sellers were cautious because of strength
in hogs, predictions for unfavorable
weather for the movement and stability
in the cash article.
The start wits steady on covering and
buying by cash interests. This was
fnllnweil liv rircssiire from local bears
on nn order from the railroad adminis
tration giving the l nited htntes drain
Corporation 70 per cent of all empty
cars for the forwarding of wheat cast
ward. The selling was overdone, and cover
ing by shorts inter brought about an
improvement. The weather map show
ed snow in the central and northwest
district.
Oats developed firmness on cdvering
by shorts and buying, induced by a
further advance in the cash article, and
big shipping sales. Tlie upturn was
preceded by easiness.
It was reported that the seaboard wns
asking for offers on lound lots for ship
ment as far ahead as March. Receipts
were small.
A local commission house received an
order from Vancouver offering 100,000
barrels of (lour for sale, in whole or in
part, delivered anywhere in the I'uited
States or Canada. Efforts to get bids
did not meet with success.
Leadlnir futures rnnitcd ns follows:
Corn (new delivery) Test
Open High Low Close close
Jan l.SS'ii 1 HO 1.371 1..1SH(1.3H'i
May ... .1S3 l.aiH 1.112W 1.3SH 1 33
July 1.31 h 1.3J14 1.3U' 1.31'. ...
Ots
May .. . si'i Wi MV, S2j stj.
4 i'3 .el i li't I.i-J
Julv
14 Pork
a i Jen
May .. .3D.::
l.ard
May 21 S3
Jul"
ltlbs
May ....20.50
July
Did. t Asked
14
BUSINESS NOTES
1 Pantmn coupon
GOVERNMENT BONDS
nid
fini,
uo1-
.',, 10.10
l'.nam -ilstrod 2s 11130
Panama .'ounon 2s 1038.
Panama recline, ed 2s 1038
TJuiltmi roupon 3s 1001
Panama reentered 8s 1001
Ask
100'i
ni'i loovj
inn1
Oiivi 1001.
"Accountant Auditor
fVMNtir jmnrried man desires oonneo- Phi""'' j " - -'
wifriWutablg concern us account- J fi i
; &WtwRtWi. Swwlatwa I" cost ftWv't9 Ju'oon'.l ioao.:
ThSaSSmi corupleto cUartfa uf a do-I it a Oovt couoonls. IJ25 rl05 JO"
4ri
SSVi
fi&ll
02
02
02
100
100
0OV4
noli
vn
08
ioou
100!
Unsafe.
MtnneaDolls
Kansas City . .
Dalian
Ban FranUsco
44
4
n
4;
4'
i
l'I
44
4?4 fifO
:Yi
5
4i
4
4'$
t'i
lavs
lx
44
4'
Wiilc less ailiil i- notfil i""'
pig iron district-, inu-ed by the sold
out coiiJition of f.irmice- in some di--triets
notab'v PitNlmigh and l'hiladel
phm, buyers" still pvrsi-i in trjms 1"
place tonnages ranging ti on l.i.OO tons
of foundrv and malleiible iron to ..O.diil
tons of basic iron, 'all of vvhieli is wanted
for delivery in the lirst half of tin
year. Quiet business continues to feature
the Hour market, with buyers con
tinuing to adopt u rou-erv'ativc polie.v
The trade is appaieinb quit'1 l,ll
enough supplied for prisent rrrjuite-ini-nt!,
and for some litth tune to come
and under the cireiimMtnues is iiiclinul
iA .. ,.u ,1.. elniiinents.
iu a...... ....-. - i uwii uuies ivuicricau. r uiuros were
.Japan is in the mai hot for t'ininiiiiiis barely steady in the enrlv dea'iiig.s
lots nf mixed fertilizers anil ispecially spnt prices were: American, middling
for sulphate of animoiiui. 'J his I ur fair, IXl.fiod ; good middling, L'0..'!0d:
limy muiaiiug. jii..iiKi : middling.
2S.0fid; low middling. 2.1.r.0d; good or.
diuary, -2.rj3d. and ordinary. 21 .Hud.
as u rumor that a reduction of 10 per
"enl would be made has becu current.
Divergent opinions regarding (lie ad
visibility of reluming lo German imir
k"iv for toys and notion1, were expressed
ji-stcrrtay at the annual convention of
the .lubbers' Association of Xntiou
liujirs, u subsidernj of the Naliomil
Wholesale Drj Moods Association. Some
of the notion and toy buyers said Amer
ican products in theso lines were in
terior, vvliilo others stoutly defended
the ijualitj that tlie'Aiuerican facloriyj
an putting out.
Liverpool Cotton
Liverpool, Jan. 1.. There was fuir
demand for spot cotton today with
prices easier on the basis of n decline
of lilt points for middling at 2S.0.M1,
The Miles were 8000 bales. The re
ceipts were 21,000 hales, including 11.-
uini nines American, futures
BANK CLEARINGS
Eastern empire has adopted a systeti)
r,r ovtensive onei-atiou and the demand
for fertilizers has increased accordingly.
Prices apparently are no obstacle if the
goods con be obtained.
Tlie general clit-mli-nl list was with
out much change yrsteidaj, but this
did not indicate that busine.-s lacked
activity. On the tontriu.v, there was
again active demand for caustic soda,
soda ash, blcacning powders, bichro
mate of soda, yellow prussiute of soda,
sal soda and the nuiniouia products,
while in the fertilizer gioup the sunt
demand was keen for various commod
ities and prices were decidedly strung.
Fire underwriters who hate, been In
vestigating the situation of railroad
nronertv with .i view to lesumins their
40 9S0.S91 relations with the railmads when the
roads are returned in then- owners Hud
that while the roads jr" earning too
4'j
i;
Hank clearings today compared with cor
respondtny Uuv last two years.
11)20 11110 1018
1'hlla ..I'll 304,512 ("1.72.010 (OO.Stlll 00
MOPtun -'llilf ist ,u tsuii-ji
si i.rup :n oti snn 2.1 1111,317
llaltmi . Ill I.1U HSU 14.K.2 2.13
r'hliaui) lUlTO'T U.V322 3H2
N jurk. 002.065,103 003.0S,257 035,130,1160 little to nav dividends on their nre-wai
" ' " capital the value of their properties by
Coroner Knight Goes to Coast , reason of inflated prices lias Increased
Coroner William It. Knight, Jr.. 'eft tremendously,
this morning for a trip of a month The Jewelry trade was notified yes
to the Pacific coast. lie will visit lerday by several large American im
rc'atives and also pall nn the coroner porters that the British syndicate has
if Oakland, Calif., while en route, Bgain advanced the price of cut diamonds
Mr. Knight did not, take 8 vacation last .fiom &5 to $10 n karat, Tills increase
fcummer.
BUTTER, EGGS AND CHEESE
f-vv Virk. Jan 13 BUTTKR htendy
Receipts 713.1 tuba Creamery blither than
extras. 2ifttlflc. extra (nlnit-to cni.)
02e lirst. .'.7'4 8111'tic . pa kins slock cur
rint make. No 2. 44c
KOOS Unsettled. Receipts. 11.001 case
Fresh Katheied extras 7Hc, do extra, first
7H76c do. first 72073c, state. IVnnssl-'-anla
and pearbv western hennery, while.
!lrt to extra "sR4r; do hrown. 78fisuc,
do Rathert'd. brown and mixed colors. 7vc
CHHESK Irregular. ReiWpts 1217
boxes btate, whole milk Hats current
mike specials. 3mfi?32c, do. uverairi. run.
3fHft?31c, state, whole m Ik. twins cur
rent msk specials, 31 C" 32c, do, avurat;e
run. 30 831c
New York Metal Market
New lork Jan 1.1 Copper Sunt and
Jimuarj. lU'ttlD.o Kehruarj, JOHs bid
M"-ch lfHiC bid MlVkel ., CUl-t Lead
spot, January and V linmry. N,u hid.
Market tlrm Speller F'st m Louis- Spit.
.Isnuary, February, Ma'ch and April U 17'i
Hi) 27Vc Market llrmer
CHICAGO BUTTER AND EGGS
Chlratro. Jan. 18, BUTTISR Lower,
Creamery BltTftOa
CUOH iiwer iieceipis, 4142 cases
socfSSc; at
io,...Mi " " V" ....,... -..tin iMirilPi. -p.,..,- ..,, nnlnilv fVrulu
- -J'l'irqr industry, laasmuch nrii,' case included, ;,7j6c
LONDON STOCK MARKET
Renewed Buoyancy Shown In Oils
Industrials Cheerful in Spots
London, Jan. 15. Renewed buoy
ancy was shown in tho oils in the
stock exchange today. There was. a
spurt in the shares of the Curmali Oil
Co.,- influenced by impending oil de
velopments in Mesopotamia. Shell
Transput t and Trading was 12Ts, ex
dividend. Prior to the announcement of the set
tlement of the dispute over wages, home
rails lacked steadiness. The industrial
department was cheerful iu spots. Mines
were checkered. The gilt-edged sec
tion was dull.
Generally, the markets were quiet.
No Change in Refined Sugars
New York, Jan. 15. The local mar
ket for refined sugar remains unchuug
cd. The American Co. continues to of
fer fur shipment in the territory east
of lliiffalo and Pittsburgh ut 15,20c,
less 2 per ceut for cash. Arburklo
Ilros. , having completed thplr allot
ments, at 10c less 2 per cent for cash,
are temporarily withdrawn from the
market. The redcrnl, Warner and Na
tional companies also arc withdrawn.
Impoitntious of raws continue disap
pointing, the arrivals on Wednesday
-oiisUting of 20,415 bags Cubus to tin
Federal ; 10.000 bags to the AVurper.
2717 bags Porto Ricos to the Ameri
can Refining and 430 packages of wash
ed P01 to Ricos consigned to tho trade
Paris Bourse Prices Barely Steady
Paris, Jan. 15. Prices were bately
steady on the Hourse today. Three per
cent rentes were quoted nt 57 francs 50
centimes ; exchaugc on London -ln
francs 50 centimes; 5 per ceut loan"
8S francs 50 centimes. The dollar was
quoted at 11 francs 41 ceutimes,
BAR SILVER
Commercial bar silver was quoted in
New ork today ot $1.30 an oi-qce,
a dec'ine of 44q, In Updoo tb price
was 2d lower at 70(1,
39.50
21. 5
3D. 2
as so
311. 13
3S..1I)
3S.2J
UI.05 121.00
25.20 t21.77
REBUYING OF COTTON
IMPROVES MARKET
Day's News Developments Help
Undertone and Tend to
Restrict Offerings
COTTON EELT TVEATHEn CONDITIONS
New York. Jan 15. Tho following tern
peratureo vvero recorded in the cotton belt
thl mornin: Marcn KnoTvllieand Okla
homa. 34; Fort Smith, Meridian. Mont
comerv and Chattanoosra. SO! Llt'le Rock,
Atlanta and Wilmington. 38i Nashville,
Thnmnavlp. and Chsrlton. 40: Abilene
and MemohlB. 42: Vlcksbunr, 44: Shreve
port. Ta-npa and Jacksonville. 46: New
Orleans and Pensacoia,' 481 San Antonio,
nil: Cornus Chrlstl .16. and Galveston. 68.
The only precipitation reccrded In the cot
ton belt was tUO Inch ut Corpus Chrlstl.
Now York, Jnn. 15. itebuylng of
cotton by recent sellers brought about
a decided improvement in the cotton
market today!
Bullish spot advices, n statement by
Governor Harding, of the Federal -Reserve
Board, that the board did no
contemplate any immediate advance in'
discount rates, largo exports and re
ports of increasing mill demand all help
ed tlie undertone aud tended to restrict
offerings.
The switching of short hedges in the
March position to May widened the
difference between these months to about
175 points, an inctense of about 41)
points in the last two days.
The exports reported to 2:15 o'clock
aggregated 27,832 bales, including 25.
4S2 bales to Great Britain and 2o'."0
bales to France. Total exports thus
far for the season have been 3.263,0.'lll
bales, compurcd with 2,059,50s bales
for the corresponding period last season.
an. .
March
.May .
July
Oct. . .
Dec. ..
Bid.
Yest. TodayVs
close open
.. 37. SO "37.74
. . .13. 85 35.73
. 34.20 31.03
. 32. SI) 32.75
. 30.21 30.36
11.00
a. m.
an. lit
34.45
33.02
30.3S
20.80
1:30
p. m.
36.43
34. nn
33.15
30.60
2;.10
p. m.
31.3(1
3(1.50
34, 7!)
33.2-1
tiAIIONALTAX AUDITBUREAU
Tax Expert and Public Accountants
Have Removed Their Office! to
70S Real Estate Trait Building
Walnot SS80 Bate MS I
10.75 20.50
2.1.7ft
.1.07
10.60
20.47
DIVIDENDS DECLARED
Merrltt Oil Corporation, quarterly of 211
pir cent, payable Kcbtuary 14 to Btock cl
record January 31.
J. a. Brill Co.. quarterly ot i pr cent
on preferred, payable February 2 to stocU of
record January 22
t'llnchlleld Coal Corporation ii dividend
of three-quarters of 1 per cent on common,
payable February 14 to stoik of record Feb
ruary V and quarterly 1 per tent on tire,
ferrcd, payable February 1 to stock of rec
ord January 26 ....
National Lead Co, quarterly ls per cent
on preferred, payable March 15 to block of
record February 20
clears-Roebuck A. Co , qujrt"rlv of 2 pep
cint on common, pivihiu 1 ebruary la to
1 stock of reiord .lanuaty 31
Statistician Wanted
by investment house, members
Philadelphia and New York
Stock Exchanges. Man cap
able of handling correspon
dence, writing circulars and
statistical work in genera).
Experience essential.
Box A834, Public Ledger.
Stockwell, Wilson & Linvill
Certified Public Accountants
Land Title Bldf,'., Philadelphia
To
Manufacturers
Seeking
Additional
Capital
You will find our
Business Trading De-
partment in a posi
tion to render an un
usually valuable serv
ice in situation's in
volving mortgages on
industrial plants. We
are prepared imme
diately to investigate
your particular con
ditions, -.with a view
to solving your prob
lems with the least
possible .delay.
Business Trading
, Department
Ellrins, Morris & Co.
Jnvestmetit Rankers
Land Title Uldg., Phila.
AKRON TIRE
Market Temporarily Postponed
J. H. Dienes & Co.
INVESTMENTS
GiO LAFAYETTE BLDG., PHILArJELPHIA
Phono Lombard 4J13.11.1S -
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