'VX
i
fl
"'Hi.
evening ptn&jo jiABiHm "iftad
M
1
.
'-. j,t -clT-ru-if
(m
m
m3i
ivn
fcfJ :"to
r Am
, '' ijj-f-fl.il'
J'-WfS
Iff
ltf!4
, tu
ii"v ffEfffUai
.vfiv mm
''T;.fr'.-) f5to
uia&A j limn?"
wsk: v
Superior
Oil
77ie President
has stated that
"The directors, at their
next meeting, will take
up the question of divi
dends, and in accord
ance with their previ
ously announced policy,
I anticipate that a regu
lar quarterly dividend
will be declared, at the
rate of $2.00 yearly."
Quoted on New York Curb
Circular on request
G. E. WELLES & CO.
Members A Y Stock Exchange
71 Broadway New York
The above information, while not
ouamntred bu ui, tec
believe to be reliable
NEWS OF FINANCIAL WORLDNEW YORK AND PHILADELPHIA STOCK QUOTATIONS
h Seasoned Securities of
Strong Companies
There are investors
who believe they can
get the greatest safety
consistent with satis
factory income by
purchasing securities
that have been tested
under varied market
conditions over a
period of years.
We shall be glad to
give on request the
range of prices and
statistical data re
garding any seasoned
, bond having a recog
nized market.
Correspondence Incited
Hemphill, Noyes & Co.
Members Vcir York Storf; Exchange
Franklin Bk. Bldg., Philadelphia
" York Boston Scranton
MARKET SUFFERED FRESH
ATTACK OF INDIGESTION
Loan Calling and Collateral Discrimination Afforded Dears
Ample Ammunition to Hammer List
New York. .Ian. 10 Today's utork
market jmtTcrrd i fresh attack of unite
indigestion, at the opening this luoru
Inif. which threatened for u time to pro
duce another dcm.iralir.lng vmosh ill e
curity values. The attack wit short
lived and there .ii a speedy recovery,
but it nevcrtlielesi left the market iu n
sensitive condition besides serving to
accentuate the inentnl eonfiiilou of the
trading element.
It Max another one of thoe striking
cases of the unexpected which occur
so frequently in Wall street, more par
ticularly in thce teusous when the mar
ket has been left to the tender mercies
of tho profcssiomls. The tracks from
all indications seemed to have been well
greased for a continuation of yester
day's recovery movement, which super
ficially wns warranted alone from the
fact of the market's unquestionably
oversold condition.
There was u little joker, however,
that had escaped notice. evidently,
judging from the character of the early
dealings, there had befn considerable
scrutinizing of bank loans overnight
and rigid discrimination applied as to
collateral. This, at least, was strongly
suggested in the (bod of unmistakable
pool liquidation which the market en
countered nt the opning The urgency
of the selling in several p.irts ot the
list, more particularly iu connection
with some of the recently formed com
panies, could hardly hae any other
lntcrpietation.
The total unexpected about-face turn
iu the market tide took the reactionists
as much bj MirprKp ns tlio-e pledged to
the constructive side. The former, how
ever, were not slow in taking ad.tntage
of the big opening and proceeded to
hammer the list vigorously, with the ex
pressed purpose of reaching and uncov
ering further "stops," which thc nat
urally supposed were in abundance, in
view of the attitude of the loaning in
stitutions. While the bearish drives were con
centrated against yesterday's weak fea
tures the entire industrial list for a
tlmn was found surprisingly vulnerable.
Ilefore tho end of the first half-hour
declines of I to more than 0 points were
recorded. The shipping nhnres were
conspicuous points of attack, presum
ably encouraged because of the atten
tion uttracted to the decreased out
going tonnage nnd the fact that Im
portations are only in driblets. Marine
common lost more thnn 4 points, us did
Atlantic, Gulf and Wcstndic.
Pressure against the newer oil com
panies' shares was renewed with greater
vigor. Middle States Oil adding over (1
points to its recent precipitate reversal.
Transcontinental, which yesterday
seemed to be immune, came in for an
other drubbing, making n new low rec
ord, ut 23 to. The fresh weakness In
these shares unsettled the entire oil
group, and declines of 1 to over 5
points were suffered before the down
ward swing was checked. The entire
industrial division was affected. The
tobaccos and metal shares alone mani
fested moderate firmness.
The selling pressure was suddenly
withdrawn, and the rapid rebound of
many stocks, including those of a more
speculative character, indicated that
much of the curl" reaction was again
due to the aggressive tactics of the re
actionary party. On the recovery, how
ever, the market became dull, but adi
ditional changes were mostly at higher
locl. The opening rate of S per cent
for call money, as against !) per cent
yesterday, probablj wns n factor iu the
further recoveries at noon.
Shorts began another drive against
prices in the early afternoon, directing
their efforts against high-priced motors
and oils, Heactions in Cicnernl Motors,
Chandler, Itojnl Dutch, Shell Trans,
port, Texas Co. and I'an-Amerienu
Petroleum extended from I! to 8 points.
Kails, steels nnd equipments Inter led
an irregular rally.
Although call loans dropped to 0
per rent, a broader selling movement
marked the later dealings, man.v stocks
recordiug quotations of the es.sioii.
EARS GUNNED FOR
Philadelphia Stocks
VULNERABLE I
vHSgHU )TV 0AMM
sfjvYo5!
Toledo Traction,
Light &. Power Co.
1st Lien 7 2-Year
Gold Bonds
An attractive issue
offered at a price
to yield about
7y2
. t pV to cm ular upon
'POUtst fir PE-C76
The National Gly
Company
CorrMpondoit aJSlca In over SI Cilia
Philadelphia 1421 Cbcitnit Street
Atlantic Citj Chalfonte Block
1Z2S Boardwalk
Whole Market Was Unsettled
and Nervous' Under the Heavy
Selling Pressure
OILS WERE HIT HARD
Phila. Nat. Bank
Warrants
Bought Sold
C. K. Garrison
308 Widener BldS-
Bell Phene, Wal 1 138-4 '91
Keystone riic-ne; Kuip :j60
Rights to Subscribe
f PHILADELPHIA
NATIONAL BANK
BARNES & LOFLAND
147 S. 4th St.
New York. Jan. 1(5. The New York
Evening Sinn's clo.sing financial review
today gays :
The bear element continued to seek
out vulnerable spots in the share list
today and succeeded in driving down a
number of properties. Conspicuous
weakness was confined largely to a few
of the oils and new promotions, hut the
whole market was unsettled and nerv
ous, particularly in the forenoon, when
the selling was very heavy.
Middle States and Transcontinental
Oil were forced down to new low figures.
Itnynl Dutch and Shell Transport, two
oil stocks which heretofore have es
caped attack, declined extensively
around midday under concentrated sell
ing, vielding four to fie points. Mexi
can Petroleum made a new low on the
movement, going under lfl.".
The steels, equipments and coppers,
however, offered splendid resistance nnd
were well taken on all reactions. Hear
propaganda has been unable to under
mine confidence in securities of this
class because of the expanding business
which thesj companies are doing at ad
vancing prices.
The rail loan renewal rate was S
per "-ent. a relatively low figure. Karly
in the afternoon there was a further
casing of the call rate, and while this
served to discourage aggressive bear op
erations, it did not promote any great
demand for stocks. The shrinkage iu
market values has progressed sufficient -.lv
far, specially in a number of the
vverboomed oil shares, to have seriously
injured many speculative accounts, nn(
has either forced their owners out of
aetiou or caused them to withdraw from
the market altogether.
There was nothing in the day's news
to account for the further slump. It
was sunplj a case of the mnrket cor
seting the evils of ovcrHpeculation in
which it indulged last year. The bear
element is having its inning for the firt
time in months, and the success so far
achieved has given it great confidence.
I'nder such circumstances the selling is
bound to be overdone sooner or later.
Sentimem was u? bearish today as it
has been nt any time this week, al
thou.h a technical rally, at least, was
looked for bv many observers.
With prices on the clown graue me
street was in a good to make the most
out ot every hit of unfavorable gossip.
It was suddenly remembered that our
foreign trade 'is jeopardized bv the
abnormal exchange situation, tht tre
mendous sums of money have been tied
up in an unparalleled number of new
flotations of questionable merit and no
loan alue. that at the same time the
railroad industry has been unable to
raise necessary funds nnd that we may
have to extend billions of dollars of
prnriir to Hurone.
None of these- ideas were strikingly
new. hut they have been affording a
I Vndid background for the recent cell
ing of seeuritiep. The foreign exchange
market wbs again weak, sterling yield
ing about l'i points to $.".00. German
'and Belgiuu exchange went to new
ir.u- On the theory that foreign trade
wvi'.d soon dwindle, bears attacked the
shippirg storks and caused considerable
v'.ikness in the Mercantile Marine
- i a i 's .
Ti ' 'all loan rate dropped to 0 per
lout in the last hour. Time inonev,
1 1. evcr, wns in scant supply, S to S'4
jut rent being bid without eliciting any
g .-at iin'ount of funds.
Net
HlRh T.ow CI" chpe.
71'-' Am Strs. 40'; :9 n
( Am Cas. M .".1 Til ..
I. Hriii J a no no no 1
:::sei stor..i:i:.' , i.tjv-i:w,,(: Vj
100 (in Asph.ll4V.j 1141;: 114 -Vj
"i (It 1' ('cm .-.. .") "i V
."0 do pref 10 10 10 ..
s, i c x a. :v.i-v, :i:;ni :vm u
1(10 Ke Tel- 1JL. l'JU. V2K V.-
L'O'.'. L'0'i 'J0it y.
(U (14 (U ..
44 -iM 44 Vt
4111.', 4i) J. 4!iv,iiL
42 Vi 42
70Vi "1
700 I.k S Cor
10 I.eh Nav.
IT. I.ch Val.
100 tMidvulc.
7.7 Pa It U.
(10 Pa Salt.
2S1 Phila Bk
war ...121M; US
isr, Phila Kl 2.i Vt
,-..s.-, P U T to 27 Vk
.".1 Phila Tr 01 ,i
50 tSt j &
S Fran. 17r's
122'1'on Pel.
25 Ton Min.
50 Til Trac
.'WO In ; I.
"" I'N
42 ,i&
70V4-.
no :
25 14 251,4
J7V! 'Yr
w
R-f 'Kt
01 1
:?
2--K,
? Vs
175S,
2
no'
17 4- V
2
.10 s
n.i..
Xct ch.ingf nrndo bv comparison with last
sale on ev lorK stork LAchanKe
Net
chKe
SO SO SO 2
bales In I10Ms
lioim inch Low Close
1) Am lias
Klec 5s..
'! Klec & Pco
Tr 4s ... 05
5 I.k Sup iuc
5s 01
2 P.i Co cons
4i,js m
1 Philu Ulce
1st 5s . . . 00
0 Head gen 4s SOls
5 Un Ky Iuv
us 734
01
01
001.
80
(15
01
01
00 V
80 ,
M
73H 734 U
TENDENCY IN COTTON
IS TO LOWER LEVELS
Trade Buying Helps Early Mar
ket, but Reactions Soon
Follow
COTTON 71ELT WEATHER CONDITIONS
New York. Jan. lfi The follow ink- tem
peratures were iecordd In the cotton
hlt this mornlnB. Oklahoma City. 34:
Knoxvllle and Atlanta 40 Augu?ta, Nash
ville. Macon and Fort Smith 18. Mem
phis and Wilmington. r,o. Charleston,
S'tivannah and Jacksonville. 3-, Shrevfv.
port. San Antonio, Little Rock and Mont
Korcwry, r.4 Meridian, Thomasvllle and
Tampa, ffi Galveston and VUkshurff, r8
Pensarola and Corpus rhrlstl, bi, and
New- Orleans. 14. The following precipi
tation ww, recorded Pan Antonio, 01.
Corpus Chrlsti ,OJ Gilveeton Vicksburs
nnd Macon. .04. Shreveport 10 New Or
leans, 14 Ausrusta 'JO. Knoxville. 28:
Nashville and Meridian. Sfl- Atlanta, 04,
Mvmpht. 72. and Little. Rock. ,h0
Xciv York. Jan. 10. Liverpool and
southern soiling in connection with
rather poor cables accounted for an
openins decline of 10 to 22 points in
the cotton market this mornicj:. Trade
buy ins asain absorbed the contiactH and
led to rallies of about 10 points from
bottom.
The maiket at the end of the firut
fifteen minutes was about 1", to 15
pointy net lower. This vnii followed by
another setback due to Wall street
under which prices sasffed (n opening
levels.
The receipts at I he ports for the day
are estlmnted ill ."5.000 bales, against
G1.00S hales a week ago; 10,875 bales a
year opi and 21, ."'-O bales two jeara
ago
Jan
Matf-h
.Ua
Jui
Oct
D-
est
. lose
. ax .TI
in.r-o
. 31 K.'i
33 2S
30.73
'.'0 7,'i
Today h II 1)1 I 30 2:,10
open a. m. p m p. m.
as.30
3H 30
31.115
31.1.1
3n.no
30.00
31.2.1
34.4.1
32 1)1
36 13
.14 4.1
32. 7H
.".) 10
34 SI
32 H3
ttuu
EQUIPMENT BONDS
Railroad
Tank Car
Marine
FREEMAN & COMPANY
3ImItert ew York Stock EieliauKe
I CHESTNUT
, Private Wire to New York
Csll Lombard 4380
Unltfiil Kintclom O. I, Inland (V4. 1023
Klanlom of Uelilum lUt'l .Notm. , 1U21-;.1
iL'.t..,. r'nnl Ai roktj Coainiuir l&t .1m. im-
rut, Coal & Coke ferlei A , 1B3
It rtiMWfcr Ky. Stock Trait 4. iw.f
ink. Coiumbu 4 ISustem Tra;, 6, llciti
ln(Mt.(l t'n. Ut Mtte. S, 93")
n.Ou c ruI Omjpunr Coll
n1 Hilluur. i,iznt it rower
..."V, . .' -il .-. .. . 4 ' .
ivaivi irsciiuii ,,. ui .-. . on, was
-. 1IJ2H
Bu. 191'J
Afl.
Jut Mtte. St. IIM1
rnMnflnr Iftfc Hftv. Jin. 11141
muel K. I'Jtiinps & Co.
t rower Co.
u
Hoaitr rMIxdelphU Sleek Exebuict
MONEY-LENDING RATES
NKW OKK Money on call opened
today at R per cent for leudinj; and re
newing. The mirket for time money shows no
chance today in conditions. Money is
us j-nsp as heretofore unci there -are
onlj occasional loans at 8 and 8' per
cent, or dose to the maximum figures
of the last month or two.
The discount figure on prime mercan
tile paper is still 0 per cent, and that
market is slow in contrast with this
time of th yrar in normal periods.
Trime i.ank acceptances arc quiet at
unehanged quotations.
Tall loans on acceptances stand at
4"1! per cent
PHU.uPKI,rmA Call.O per cent;
time. 0 tier eeut : commercial paper,
three to n months, ,"i?4 per rent, and
$i month-, r3t(cjil per cent.
LONDON Money is quoted at 4
per cent. Discount rates, short bills,
jj'i per cent ,
I per cent.
three -month U1U, 0v4
FOREIGN EXCHANGE
New York. .Ian. 10, Opcaing fig
ures showed n slight improvement in
sterling at .".00,'i for demand and J1.70
for cables. Italian exchnuge was lower
at 1H.70 for lire cables aud III. 72 for
checks. Swiss francs were n little bet
ter. Marks nnd kronnen were nominal.
The neutral exchanges were heavy, par
ticularly Copenhagen. Belgians were
unchanged from the early rates.
Quotations were :
I'm tie cables 11.57, checks 11.55;
Swiss cables 5.5", checks 5.55; guilder
cables :,i7''.;, checks Itf3 ; pesetas ca
bles 10.10, cheeks 10; Stockholm ca
bles 20.70, checks 20.55; Christianin
cables 10. -10, checks 10.25; Copenhagen
cables 17.70, checks. 17.75: Ilelgian ca
bles 11.50. checks 11.52; marks, spot
currency, 2 .'10 ; Austrian kronnen. 11;
marks, 1.72.
In the early afternoon, sterling re
ceded to .T.00 for demand and 8.09
for cables. Francs fell to 11.60 for
cables and 11.02 for checks and lire
dropped to 18.09 for cables and 13.70
for checks Helgiaus were quoted at
11 55 for cables unci 11 07 for cheeks
and mark? were at 1 71.
' I ! -I I. I I - .
NEW YORK STOCK EXCHANGE TRANSACTIONS
Sates
ion
R00
009
3000
100
200
100
-100
100
2799
1033
100
3J00
ltOM
200
1200
10J00
300
13030
6030
100
too
1400
(iOO
100
1700
100
3100
100
300
13030
19000
200
400
100
3700
200
too
tooe
200
7
100
900
230
230
.900
100
G7.100
100
890
203
400
00
200
175)0
300
SOI)
1200
100
300
1000
900
100
mo
210
300
1S90
too
t00
930
4630
200
200
200
200
2000
2G10
1300
1600
200
200
1000
630
100
900
700
100
100
500
9900
100
100
300
400
300
5400
100
3610
5530
300
100
1590
400
100
100
1310
2010
1490
700
l7ffl
200
3400
810
500
200
600
100
8700
400
480O
5100
200
2100
600
too
1100
500
109
3200
690
500
100
700
23100
8100
2009
7230
530
too
100
100
209
209
100
200
700
2900
10700 1
Dlv.
In f
0
AJux Ttubbcr 3W
Alaska Gold Mitten ., m
AWska Juneau a M . . 2
Allls-Chnlmors 49
Am Agrlo Cliem pf ... 96(4
Atn Hank N'oto 45
Am Bank Note cf 15
Am licet Sutrar 2j4
Am Bosch Magneto ..til
Am Bosch rts J',
Am Can 51
Am Ciui pt 98 ,4
Am Car & Fdy t3S!4
Am, Druggist Syn .... 14 H
Am Kxpress S5H
Am moo a l,eath pf.,114
10
3.59
Am Intermit Corn ....111
Am-tflii France ISngtne. 1H
Am Linseed S2J4
Am Locomotive OSji
Am locomotive pf ...M'A
Am Malt & Grain 38
Am Ship & Commerce. 20 ',4
Am Smelt & Hef 6
Am Steel Foundries .. 44'4
Am Sumatra Tob .... 92H
Am Sumatra Tob pf.. Ot H
Am Tel & Tel 98
Am Tobacco ........270
Am Tobacco pf now.. 97M
. Am Tob See temp ctf! 08H
7 Am Woolen 153
. Am Writing Paper pf. 55
. Am Zinc Lead & Sm.. 19V4
6 Am 'Ana L & S pf... 684
1 Anaconda. Copper .... li
Ann Arbor 7
. Assets Iteallzatton .. I'i
. Asso Dry Goods 60V4
6 Asso Ory Gds 1st pf.. 74 Vi
7 Asso Dry Gels 2d pf.. 75?;
soel,itccl Oil It-
fi Atch Top & Santa Fe . 84
5 Atch Top & S F pf . . . 79
Atlanta Ulrm & Alt.. 74
Atl Gulf & W I S S...101
Auto Sales C tern ctfs. 17V4
Baldwin Locomotive. .114'A
Baldwin loco pf 102
Baltimore & Ohio .... 3Ue
Baltimore & Ohio pf . . 46
Barrett 120
Bethlehem Motors .... 2814
Bethlehem Steel 90
Bethlehem Steel B-... 95K
Booth Fisheries 14
Bklvn Bnnld Tranblt.. 13
Bklyn 11 Tutfs of dep.
Bruna Term & li It. .
9
VA
Low
S3?
ti
a
4714
9BI-4
44
45
M4
117
53
99,4
m'.i
I3i
95x4
113
197 V2
14
7'
06
101 W
38
20 Vi
67
4-1
f0?i
91 Vi
97
270
97
eet's
147V4
5
19
58V4
(0V4
1
4
59 V4
74 V4
75.
115
son
79 Vi
7H
159V4
I6H
1I0V4
103
31V4
46
125
28
89 V4
S3
14
12
8'i
7Vi
Today's Net
Clo Chtre.
83 ..
1?4 - i.
i
47V4- 1
0HV4 V4
44 - avi
43
tV4-
117
5?i-
53 -
99 V4-
130 -14
Vi
95V4 -
113 -
108 Vi -14
80
96V4-
lOlVi
38 26 Vi
67 -43
-9094-01
Vi -98
170
Vi
Vi
1
Vi
2V4
V4
4V4
1V4
2Vi
"?4
3W
"li
n
1
3V4
tVi
3
07 H IVi
V.
Vi
V4
1
Vi
2
- V4
67 U
118
51
19 -
68V4-
60 V4-
9 7
4
59 Vi-
74V4 V4
76 1H
115 - Vi
83 15
79 Vi- Vi
7H ..
169 V4- 214
17 Vi- 9s
1U94- 2V4
Bums Bros
10S?4 108
Butte Conner & Zinc. . 10
.. Butte & Superior Cop. 28
Butterlck 2
Caddo Central O & B. 229
6 California Packing WV4
.. California Petroleum.. 10
10 Canadian Pacific 130
5 Cent Foundry pf . ... 47
5 Central Leather 95V4
4 Cerro de Pasco Cop .. 50 Vi
Si Chandler Motors 126
4 Chesapeako & Ohio . . . 65Vi
Chi & n I pf FT ctfs. 5
Chicago Gt Western.. 8H
, 6 Chi Gt Western pf.... 23 'i
.. Chi Mil & St Paul 3714
.. Chi Mil & St Paul pf. . 52i
7 Chi & Northwestern.. 85V4
. . Chi Bock Isl & Pao . . . 20 M
f. Chi H I & Pao 6 pf . . 60i
7 Chi K I & Pao 7 pf . . 709b
.. Chile Copper 1994
3 Chlno Copper 3894
Clev Cln CW & St L. . 45',i
.. Coca-Cola 39V4
3 Colorado Fuel & Iron. 42
Colo & Southern 22 Vi
4 Colo & South 2d pf... 43
4 Columb Gas & Klec... 63V4
1 Col Graphophone .... 52V4
7 Con Cigar pf 82
7 Consolidated Gas .... 81
3 Consolidated Textile .. 2SVi
1 Continental Candy . . . 12V4
.. Con Interstate Cal M.. 19 94
4 Corn Products Ret ... 84 94
7 Corn Products Bef pf 106 's
12 Crucible Steel 208
.. Cuba Cane Sugar .... S0J4
7 Cuba Cane Sugar pf.. 83 14
9 Delaware & Hudson . . 94
.. Denver & Tllo G pf... J3H
1 Dome Mines I2V4
.. Durham Hosiery 6
3 Elk Horn Coal pf 39
5 Kndlcott-Johnson ....1351j
.. Erie 139S
.. Erie 1st pf 20 Vi
Krle 2d pf 1494
8 Famous Players-L ... 87
3 Federal Mln & Sm pf. 30
. . Fish Rubber 42J8
2 Freeport Texas 32V4
2 Gaston Wins & Wig. . . 1794
6 General Chem pf . . . .100
J General Cigar 72 !
8 General Electrlo IG8
12 General Motors 317
C General Motors pf .... 85
6 General Motors deb.. S3'8
4 Goodrich B F 78
Granby fonsol M & S. 61V4
7 Groat Northern pt ... 84
4 Gt Northern Ore ctfj . 384
. . Greene Cananea Cop . 36
.. Gulf States Steel 7S
5 Hartman Corp 103
4 Haskell & Barker Car. 57 Vj
0 Inspiration Con Cop . . 50',
.. lnterboro Con Coip .. 1
.. Inter Con Corp pf. . . . I2U
. . Int Agrlcul Corp . . .20
0 Int Harvester 126
.. Int Mer Marina 41
6 Int Mer Marina pf. .. . S ' i
.. International Nickel. . 24':
.. International Paper., s.3
.. Iron Products Corp.. 17
Jewel Tea 18Ji
7 Jewel Tea pf 41 ?b
t Jones Bros Tea 20
Kan City Southern . . . 159s
4 Kansas City So pf ... 43's
.. Kelsey Wheel 78(4
7 Kelsey Wheel pf . . . 97" j.
4 Kelly-Spe Tire 131
3 Kennecott Copper . .. 305-s
29 Keystone Tlra & Rub . 395B
9V4
27 V4
21
22 Vi
80
39 Vi
12894
47
93
65T4
121
55
5
S!4
2;H4
3594
5094
?494
2614
1,0
70 !i
19 V4
38
451i
39
41 'a
22 Vi
43
1.2 V
49 V
82
81
37 J.
13 Ks
19V4
82 Vi
106 V4
204
49 '4
,394
94
1214
12 Vi
c
39
133
1294
19
14
85
30
ti Vi
32
1714
too
72
168
305
el Vi
S3
77
519b
77
38 V4
36
78
101
57 Vi
54 Vi
3,B
12
lVi
IMR
40 Vi
90V4
23 i
73
46I-!.
fvi
4t'4
20
ISVi
151,
7SI8
7Vi
132
30 y.
36 Vi
102
31V4
46
125
28
89VS-
03J4
14 -
1294-
9 -
7Vi
108
DV4-
28
34
22Vi
80V4V4 39 '-12894-
47 -
93 -
55J4
121 -
55
,r -
8VS
23 Vt
30 -
51V4
60
30V4
1094
38 -45Vi-
39 -
4154-
22Vi
43
2V4-5094-
82
81
28 Vi
13 V4
19J4-
S2Vi-10614-201
Vi-
50 -
8394-
34
12Js !
13 Vi
til
33 -?
133 -
13 9b
19 Vi
1454
M9b--
30 -I
4194 -32
-
I7V4 ..
100 '2
72 - Vi
llll Vi
305 -U
S4V4- Vz
b'iji- Vi
77 Vi- V
5t94 -94
77 - A
38 Vi
36 -78
103 V
, -4
-i
12
19V4-
125J4 -
4114- 3Vi
06 Vi
2394
7954
40V4
18 Vi
41 Ti-.
1394
87Vii
131
30 V4
Vi
94
V4
94
V4
1V4
194
V4
94
94
V4
"Vi
94
Vi
Vi
IU
194
V4
3V4
054
li
94
94
94
V,
Vi
t
H
V
594
Vi
Vi
!
3
94
254
Vi
l'
94
1 j
194
94
3
IVi
!4
94
19a
I
13
7
3
7
4
7
7
6
1.50
ib
t
3000
too
too
300 3
000
3900
300
100
100
100
100
10
100 1
300
' 100
3S890
100
200
02600 1
4900
609
2400
300
200
100
300
2300
too
200
900
500
100
300
200
Una
100
too 2.50
1509
10
300
300
3203
500
1400
1300
300
100
tooo
200
100
100
200
329 CO
3900
3300
40000
300
51.00
100
100
2600
10500
100
5300
400
600
1200
1000
400
3400
too
300
300
6200
200
500
I20U
32800
100
8600
100
Dlv.
Inl HlEh
0 Lackawanna Steel ... 85
. . Lalto Rrlo & West .... 19'
. . Leo Rubber & Tire ... 35
50 Lehigh Valley f44
. . Loews Co 32
.. Loft Com 34
LorllUrd P Tobacco . .170
loulsvllle A Kashvllle.il OH
Manatl Sugar 12034
Martin Parry 27
Mackay Cos pf Ot
Manhattan Kiev guar. 44
Manhattan Shirt 33 Vi
Maxwell Mot 1st pf .. 59V4
May Dept Stores 123
Mexican Petroleum . .198
Minn St P & S St SI.. 72
Minn & St li new .... t3Vi
Mlddlo States Corp ... 2V4
Mldvale Steel & Ord .. 49 V5
Missouri Kan & Tex . . 9Vi
Missouri Paelfle 20 Vi
Missouri Paclflo pt ... 11 V4
Montana Power .... C4Vi
Montana Power pf . . .100
Mulllns Body 48 Vi
Nat Aniline & Chem.. 60
Nat Anlllno & Ch pf . . 87V4
Natlonul Biscuit 118
Nat Fnain a Stamp.. 8tH
Nat R R of Mex 2d pi SV4
Nevada Con Copper .. 1694
New Or Tex & Mex . 44
Now York Air Brake .107
New York Central ... 6994
Now York C. & St L . . 27
New York Dock pf . . . 57
. . New York N H & n . . 27
5o Niagara F P Co pf tot
7
5
7
5
4
.30
Norfolk & Western ... 99 Vi
Notth American 6V4
Northern Paclfla 79
Nova Scotia S & C . . t Vi
Ohio Cities Gas 4794
Okla Prod & Ref .... 9 14
Ontario Silver Mng... 8
Otli Elevator 133
Otis Steel 37V4
Owens Bottling Much . 9
Paclflo Development . . 76
Paclflo Gas & Eleo ... 57
Paclfla Mall 37 JS
Pan-Amer Petrol T 96
Pan-Amer (B) C3Vi
Pennsylvania R R ... 42 V4
Pcnn Seaboard Steel . 30 94
Peoples Gas Chicago.. 3tt?i
Pcre Marquette 2994
Pere Marq prior pf.. 66T4
Pero Marquette pf ... 50
Philadelphia Co 40V4
Plerce-Arrow Motor .. "294
Plerce-Airow Mot pf..l06
Pierco Oil 19T4
Pierce Oil pf 9tVi
Pittsburgh Coal of Pa 63,4
Pittsburgh St W Va . . 29
Pressed Steel Car .... 97 VS
Pond Creels Coal 25Vi
Punta Alegra Sugar . . 90
Pullman HtVi
Railway Steel Spring . 97T4
Ray Consolidated Cop. 2194
Reading 7694
Reading 2d pf 35
Remington Typewrit.. 8694
Replogla Steel 45
Republic Iron & Steel. 1 13 Vi
Republic! Iron & S pf . .10194
31990 8.79
900
1800
100
10.100
100
100
23900
10003
1100
t 3800
1100
300
1100
36800
100
403
103
1000
8000
100
690
3210
100
23!)
15930
390
20670
2103
8930
1200
100
Republio J & S rts
t Repub Motor Truck
Royal Dutch N Y
St Joseph Lead
St L San Francisco
Savage Arms
Saxon Motor
Seboard Air Line .
Scars-Roebuck
Shell Trans Trading
Sinclair Consol Oil .
Sloss Sheff S & I
Southern Paclflo . .
Southern Railway ..
Southern Railway pf.. 65
Stromberg Carb 75 V
Studebaker 10554
Studebaker pf lot
Stutz Motor 125
IVi
. 51 V4
.10694
. 16
. 1894
. 73
. 20 Vi
. 7!i
.225V4
. 87
. 43V4
. 71
.101V4
10
1
I '4
IV4
IVi
Vt
Vz
1!4
2 '4
i
IVi
I
V4
V4
900
300
200
500
100
200
13000
1900
6500
3700
12600
100
100
47300
4 00
700
1500
400
990
100
100
1500
200
100
201)
1100
3000
400
21)9
5S.JU
390
5909
IOC)
300
Superior Steel 46
Tcnn Cop & Chem ... U9S
Texas Co 21)9
Texas Co 30 paid 1S7
Texas Co full pd 190
Texas & Paelflo . ... 38 Vi
Third Acnue 14
Tidewater Oil rts 23
Tobacco Products ... 937s
Tobacco Products pf..l04
Transcontinental Oil.. 25J4
Tiansuo & Wni3 Steel. CI Vi
Union Oil 35ii
Union Paclflo 123
Un'on Paclflo pf 67
United Alloy Steel 5oV2
United Drug 141 Vi
United Drug 1st pf ... 5194
United Fruit 123V4
Un Ry Investment ... 11 Vi
Un Ry lnest pf .... 25 94
United Retail Stores . . 8894
U S Food Products . . 7194
U S Ind Alcohol tOS
U S Realty & Imp 31 Vi
U S Rubber 1389a
IT S Rubber 1st pf 114
U S Smelt & Ref .... 73
U S Steel 105V4
7 U S Steel pf HSVi
C Utah Copper 769s
.. Vanadium Corp 53 Vi
4 Va-Carollna Chem ... 16Jb
. Waba&li 7Va
Wabash pt 33
Wells Faiso Exp .... 53
Western Maryland .. ll!i
. Western Paulflo 21'
7 Western Union Tel ... 87V4
7 Westinghousa A Br ..117V4
t Westlnghouse K & M.. 5294
. . Wheeling & L Erie . . 1234
Wheel & L Erie pf .. 17Vi
4 White Motor 01
1 Willys-Overland 2904
5 Wilson & Co 75
.. Worthtngton Pump . Uli
7 Worth Pump pf A.. .DO
0 Worth Pump pf B . . .71
Ei-dlvldeud.
10
4
4
7
.50
10
IOW
82
19V
33 94
4394
31
2394
169 Vi
ltoVi
12094
27
6(
41
33 Vi
5894
123
189
73
13 Vi
37
49 V4
BH
25
40)4
64 V4
100
48
65
87 V4
118
83 Vi
5'j
1694
43
106)4
P8V4
27
57
30)4
104
90 Vi
55
78 Vi
71
IS
0
8Vi
133
30)
60
76
57
37 Vi
88 V4
87'
41
nov
30
28 V4
00T4
49
30 Vi
6994
106
18 94
91
6194
38
6
24
8794
114)4
S6V4
2194
749
35
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107
10494
Vi
51)4
102)4
16
17
73
18',
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3514
60)4
41T4
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09 Vi
31 V4
51)4
72
If 2 94
101
110
46
11
1?5 Vi
1S7
1S7
3594
II
3314
90,
1637-4
23 Vi
59 V4
3394
12 IVi
67
50
11314
5194
19194
11 Vi
25 9 j
85)4
70V8
105
5212
125)4
114
73
10194
115)4
75
5 Hi
(5V'
7'2
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H7Vi
52 Vi
H9s
17
59
29 14
ToC!V Not
Clote Che.
B2)4- 3)4
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41 -I- )i
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33 - Vl
170 14
110 V4 Vi
12094- V
272
04
41 - 114
32V4 ..
5894- ?
133-3
18994- 8)4
73
13V4 W
40)4- 394
49)4- H
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25 - Vi
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too
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118 - 1
83)4 '
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43
106V4- 314
C894 V
27-1
57 3
26H . .
104
00Vi - )'
65
7814- !4
7t - 3
40 14
9V4 '
814- !4
132
39V4- 14
60
76 14
37 - li
37V4 ..
88V4- 81
87 Vi G'
4114- Vt
30 Vi- 1
36 - 1
20Vi 14
6614 94
50
39)4- )4
70 - r.
106 - )4
1854- V.
!'l - Vi
02V4 194
28 )i '
96 - 2
24 - 194
8794- 314
114 Vi- Vz
110 Ji- IVi
2194 ..
7594 '
35 - !4
ft - 1
45 - '
108 - 4)4
10194- 3
V4- H
31 Vi ..
103 - 4)i
16
IS Vi
73 )i
19)4- 94
7V4 Vi
225)4- IVi
M?4 - 714
43
73
99?
5
194
Hi
94
H
3Vi
3
5V4
1(3
101
125
40 - )i
It
ir.7'4- Hi
187 3
1SS I
3694
14 -r
23
00 Vi 194
101 Vi
23 -5994-31'4-
12194
67 -59V4
113 Vi J-519a-
t!.2'2-1114
U
l'4
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3)4
233
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iTa .
85 !4-70)4-
ircvi -i3V4
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til
73 1
10194 115 A -
75 -
51)4-
11014-
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23 -i
5'1
it 14
31'
8147)4
117V4
53)4
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59 )i
33 Vt -75
V.) Va
SO
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114
3
14
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IS
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1'
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94
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314
LIVESTOCK QUOTATIONS
Chicico. Jan 111 -IlOO: Kereipts, 41000
liead l.of"- Hulk Mu'iJlS HO, tun
IIS 40 h"i; fll HO'u is .', niHIum. 118 10
H!l3t, llsht tr.r.tflHB; B;U Uchtv.
I14 3H015 25, hmv patklng mvi smooth.
114 S'iCcH 7.i !H,klnc "5 rou(,h 113 77
W14 23 rlK 113 -,0-il 1 I 311
I'ATTliK Rfielptn nun htad Wri.k
Ileff steers. m?tllum nnrt hfaw wijiht.
choice nnd prin'p J17.7"i'tMl! 30. medium and
Bood. 111.105117 73 I'mnmon. 10, ,10 6 1 1 30
llKlit scoil and h ! 111018.10, common
and medium J'lWI4 Imlther cattle, heifers,
HI -.I 14 .Ml lows IU 7.1 Ti 13 25 tanners
anil cutters 3 3(16 6 73, hI rKe9. 17
JS 23. feeder nleeii IS5J1I50. Mocker
Btoer 17 2.1 Jj 1 1
fcllKKl' Heieii,i soon head Firm,
j.aniba 1171? in 73 , ulls tn common, li:i.73
lct ,1i: ewej, medium and srood. $Htfl2,
culls and LOnnnori 15 23!jh 30.
rillHldircli. I'.c. Jin ic; HOGS Re
celptB 4100 hend Steady and nctle.
HeaeB nnd henw orl,.Tn llcHi 11.10. Il-slit
yorker 113 718 111 PU 113 27 013 30
Mll.l.t' a.u iirt.nnp ueceiiHH, fain ncail
Artlvo nnd hlEher
la mux. J.o
fAI.VBP .Ttccelpif
Top. 121.50
Tot
ah-
100 head
J13; top
HU-ads
11. HOCiB r.ecep
IJUIM n 53 'O' 10 13
Knnu Cltr. Jan
fWftn henrt. Ixpuhi
lualef. IIIMMIJIO niMllunn 114 8.16
1.125. llBllta n 1.11 1.1 in PH'HlnB row
J13 30(U4 23: Plltti I13 3CIW13S0.
c'ATTLlJ Ilerelpts 2hOO head Weak
lleaw beef stcerH, 1 holre and prime llftfi.i
3 1 S 2 ." . medium and k-ood 112.30 ji if, ,',n.
common. IHi.vitMtf.40. llsht. stood and
choice $12 V1W17. common and medium
8 25(12..10 butcher cattle, hellers trt 7.7
'B'Htf.l. jows. Jet (1.1 g 12 .10 caunera nnd
cutlers. 3ll H5. veal calves, l3lh,
feeder ktecrr. IS&13 2.7. stocker etwre.
trt tflCiilO 83
hUBUP flecelptB IBOn head Stedv.
I.amb') t(l COt? 19 50, culls and common.
ill tfifMBtfl. yearllrB wethers J14 2.imn,
ewes 19 50CJ11 30; culis and common. J4 3u
(OJI. breeding ewes. I8M30. feeder
lambs 114 5O0I7.73
Kiot St. laiuls. III.. .I.i 1 IIOCB
Receipts tfO DUO head Mead Hulk. 11.120
WIS 40 tTeavv JH51" I ' '10 medium, 15 10
15 10 litht. 14 OO'tfir, 4d llsht llehts.
14 30M.7 3,1. heavj pcklnt- w smooth,
113 T5014. packiniT sows, rouuh. 112 731ft
137.1 mo, 10 .jOiJJ IS
CATTLE Hcelpt. 20O head. blow.
Beef teer medium and heavy, choice, and
prime, 1114117 30. medium and rood, HIS
13 75 common 19 CI 111 73 llsht e-ood and
choice $13 SO'&'IO 50 -ommon ft.id medium
J8918 23 butcher oat'le heif'rs JJiiiliii
cowa. IIl. 1-, canners roo iuuri e.iv.., ,
17 70, feeder htecif, J 70(912. t-tocki r
sti.-rs J7A1CI 50.
hHBKI' Keceipts. 1700 head S-lo
Lambs, Jin 235? in 50 culls nnd common
ilJWtit; searllnsr wethers. el3ral7: cues,
milium nnd choice, R.1i)fi .111, culls ami
common. $1 50(T8.
I.'l'l llunnln, , .. Jim Ml f.MTl.l!
rrci-lpta, 3.111 head iiteady. C.iltec re
celpli. tlfjo head Jlnc dollar li'Klier, Scif"
21 30.
HUGS'- ItecelptH. OI00 hind lleaw. HI
cf( J.7 cents hlBher Heavy. J1H1 10,
mixnl sorkers nnd llfrht do, H 2.1 W IB 33,
Plus $16 25. rounlis. $13 30I&13 7.1. staus.
$10 6 u ,10
SIIKKP AND tMnS-Itecelpl3. 400O
head Active I.ambi. 50 cent- lllslier
I.nmbi. llfl21; venrllPKl-. t H fl 1 : v.cth
ers. 12 30 i 1.1.50; ewes. J45T12. mi-d
sheep. 5125? 12.30
BANK CLEARINGS
Rank 1 le.triti?s today compared with or.
respondlne dav last two ears:
11120 1t)in mil
1 hi la
Host on .
Balto
C'hlcaRO
N. V -
Reserve Banks' Discount Rates
I UlUc-iul (Jlsi-iinni rati" sit tin Iwrho
I l'Vtli'ral norrvp biinK.s were 11s lolluvts;
I ITIii' tlr.( coliiniu isWch rales for all
j periods up to aud iiirliidinR :i fiftrtn-
cm. miitinil.v ; thP vccninl for n period
of vKtoon (o ninety da's,. TJio tln'i-j
and fourth columns rU-o mtos lor re
discounts of collateral loans secured Ijj
i'o eminent L0111K or notes,'
Coin'l nnper
111 in no
rt is a davs
l". 11,
1-4
4.
P4, 140,309 IBO.llin fcBT IB2.H23.377
7..Vjn.lin 11.1.777 CI7S 51,718.365
in.oBOtfnB in. 2:10. noo
117.060.222 Bn.fis.7 211
nP7.nilN,49N 71B.SH4 703
i'I. 111,502
r.nsloi.
N'ev.' 1'ork . . .
Dill.idelrh'B .
J'lchmond . . , ,
Cleveland ....
Atlanta r
Chli ago ..
St. Louis
Minneapolis
Ifansas City .
Dallas
Han 1'ram.lfcco
11 dij
I.
I'll
49.
i'
'J
Ool. paper
111 to 110
1.1 dn.i days
'.
l"c
S.
1
''.'
5
'e
II,
K'
1
French Pay Off Treasury Bonds
Taris., Jan. 1(1. The uiinKtr' of
finance is dealius today with the set
tlement of the iS.nnn.OOO in treasury
bomls which had been plated in I'ns
land and fell due j-estprdav. It is 111
raiiBln; to pa 0,700.000 of this
amount and renewing bonds In tlie
umotint of 1,'J40.000 nt 7 per tent.
New York Metal Market
York, Jan IB Copper Spot. Jan
uary ami I'obruary. nlfered, lOHc; Mirch
offered. JB9c Mnrket o.uli. Iad Spot
January and Kebruarv, K"4 , hid .Market
firm, h'pelter. East St I.ouls Spnt, Jamj.
ar, Kebruarv, March nnd April 0 20t?0 ,'10i
Market iulet
Prices Steady on Paris Bourse
Paris, Jan. 10. Prlcen were steady
on the Itourpp today. Three per cent
rentes were nuoted at OS hanes 70
centimes; exchange on London, 42
francs 81) centimes; fi per cent loan.
8S francH fiO centimes The dollar was
DIVIDENDS DECLARED
fatli Motor Co., dividend of fid 01
cent on nre
to bioik of record
qu-irleriy 1
iron and nuarterli 1i & ... .: -"';.'"'' '
iHth naiai.lo Kebnin' ' ... V ," 'Lr.'lIJT'9
January 23
Hood Huliber Co
per rent
to Moil.
voal 'calve."lliht sji4 handy wclsht 13tfi) quoted nt U francs 60 14 centimes.
of record January 2)
Atlantli IleHninv Co , Initial of jl.73 0T,
r referred. paablf Tebruary 2 to ato.k of
record January 13. ,lnd 77 centa Sntr on
1 referred subserllsd for under tlitV nsf?
mnl plan of Aiisun B, nun, 'pijahle IVi
i"bruan,t'tf!,Ul"" r'U" Wh" '' MM '..'full
LONDON METAL MARKET
Ve York, Jan Hi Cahl a.Jke r
.l't at the New 1 ,,rk metal exch..nK0 thi
mornlnB moted prl, es i I,d, lodu.
Tir fuTu,r;;l'pT,T7,!0'v",, "'h--n-'
;rsKrR,v", ""-.. .h,.o tiv .
ronV Rtkndard .0'niV"i4 VV, ,V 1.2
turea. f1'0. v.M, ( .,V,,J,,
tons. fuli,ra Iflftn -7. ..'''yS'T'
pur Spot, fi;." futures,
ti l.eaii-upot. 117 7, fid. future
13h un iinliirn nl ,- n.i '. '..,lJI1
HI11.
12.7
Iu-
Klectrolytlc Cor
'1.24, loth down
ifia an uptur'n 'of V.' naiofuTJ"
LOCAL STOCKS DROOP IN
NARROW, LISTLESS MARKET
Moderate Liquidation in More Speculative Issues Furth
Decline in Philadelphia National Dunk Warrants
Jor the listless character of today's
local market there is no need for look
ing further for nn excttpe thnu the
spectacle of tho fast crumbling of stock
values on the blje exchange. From a
purely local viewpoint speculative In
terest was deader than a door nail,
Prices were inclined to droon. which
Vns natural; first becuiiHc of the ex
treme narrowness of the mnrket iiuil,
secondly, because of the surrounding
depressing influences nnd clrcilinslunct").
Considering all things thq market, ns n
whole, held up better than might ren
souably hnve been expected.
Moderate liquidation wns discernible
iu different pnrtH of the list, none of
which, however, was of a pressing char
acter, being more of 11 sporadic nature.
Lake Superior Corporation was sold
freely, reducing to 204 .
The monotony of the day's listless
trading was partly relieved in the last
hour by reason of the nnimntcd recov
ery In the local traction shares. Curi
ously the snmo shares tlevcloped un
expected and unexplained weakness In
the same period yesterday. litiylng,
orders disclosed n very scant supply,
which resulted iu carrying Philadelphia
Traction up to 01 Vi. Philadelphia
Itnpiil Transit to 27 and Union Trac
tion to .".(IVi. -
Dribbling sales carried llrill down .?!,
to fi0; Pennsylvania Halt, Vi, to 70, and
t'nited tins Improvement, Vs, to lifi.
Quite a little stock of the American
Stores was for sale, but was well taken
at 40, after a higher opening nt -IO'sj.
Philadelphia National Pauk war
rants made further descent to 118,
which is $14 under the initial sale
made on Wednesday. There ,.
sons for believing that ,nwh f ft,
selling has been by estate, Twhlek lhi
not permitted by law to f,.ke , n"
stock allotments. Similar wZlS.
has been encountered in new s&i?M
sues of other financial ltltullnafc
knowledge of such stock being on ,i11!
certnin interests endeavor tn ,e "ict
such privileges to subscribe, at thWw
est price? possible. It has been &'
onstrated heretofore wher ucl, V, ?'
It completed there wns alwavs .1 "r
rebound In the market vnhinti 1
the right to subscribe privilege B ot
cen
once
.- 11111. id niiu.si-riue privilege.
The scnilcollapse of some of l, .,
ntly organized olt compnnv h,.V.
ce more serves to impress unon .1!'
minds of Investnm the i,,t, i.? .JM
of mnnv nf fl.o.o .;.., "-.."' Blamiltj
. "j ..'1.1" " .-.-':. ""'"'. as com.
rnC(1 VIth C roI,,tlvo ,l-: of safS;
enjoyed by the more upm.n.,,,,1 .... .l?lJ
corporation Isstus. The oil ptZlZl
campaign was greatly oVerdone ,,J T.
npLinl 1 .."
is oversatunited ia
end of new nil .
the
couiitrj ni large
oil shares. No
cems have been organised wltku
hist two years. Some of them 1'"'
proven good, but n large majority of
the stocks are not worth the pan?f
tliey fire printed oil, ' vt
A majority of the lending bankint
and brokerngo houses made earnest if
fort to steer the public clear of thcg,
oil stock shaiks unci their iilluriau iu
cratiirc. There is all the difference fi
the world between a promotion and
producing company. In this connection
it may be said, if closer study had bcrj
given to this status of manv of th
new etnecrns, a great many w0ui
now be richer and wiser.
SMALL-LOT TRADING
FEATURE IN CORN PIT
Bearish News Weakens Under
tone Recessions in Spot
Article Help Declines
CHAIN HF.I.T TVnATHCn rORECAS r
. ritlcano, Jan. Ifl Illlnolij Mostly
cloudy tonlsht Rnd Saturday, proliahly
wttli enow near I.nke Mlchia-nn tIoui,
Mlnnesoti, Io.n and Kansas Mostly
cloudy and colder tonluht and Saturday.
Vlt.cnnpln Itneettlpd and eomewhat colder
tnnlirht and Saturday, probably with tmow
near Lake Mlchlnan tonlxht. North Tin.
knt.t Cloudv and colder tonlsht. prob
ably with llffht enow in estreme west;
Saturday fair nnd colder. South Dakota
Cloudy nntl much colder tonlRht and
Saturday nrobably with llsht snow ex
treme west. Nebraska Cloudy and much
colder tonight and Saturday. Montana
and Wyoming Unsettled and much colder
tonlsht and Suturd-ay.
Chicago, Jan. 10. Ilearish news
predominated in the corn pit today and
the undertone win weaker. Transac
tions were mostly iir small lots, and
the opinion wns expressed that only a
trading market was likely until the
peace treaty was out of the way.
Among the influences that helped the
decline were recessions in the spot ar
ticle, which forced out some weak hold
ings of long stuff and led to increased
short elling. Country offerings from
Iowa and Illinois were freer. The
prospect of getting cars appeared to be
better. Further losses in foreign ex
change nl-o panic in for attention.
K11IIM1 factois, however, were not
locking, including light slocks, unfav
orable weather, nn advance . in cash
wheat iu the Northwest nnd an unfav
orable report by the Modern Miller ou
that grain.
Domestic shipping s-ale.s of corn here
were 4:1.000 bushels.
I.xports of corn from the Cnlted
States for the week were l.'ilt.OOO
bushels, and from Argentina 2,0L'.000
bushels. Shipments nf wheat and flour
from the t'nited States for the -week
were -l.ilOL'.OOO bushels and from Ar
gentina I!, 14I1.000 bushels.
Oats were depressed by the drop in
corn, weakness iu foreign exchange and
easier prices for rye. Trade was al
most entirely local. Premiums on the
cash article weie easier. Domestic in
cpiiry was slow, with sales of 7.", 000
bushels reported. The demand for ex
port was good.
Shipments of outs from Argentina
for the week were 204,000 bmhcls.
TO REDUCE INTEREST RATE
criticism of Federal Reserve Hai
Effect on New York Banks
lScv.nr!i, Jnn. 10. The New TntV
represent-
Clearing House Association,
ing n majority of the leading banks and
trust companies of New York. iim.i.
motisly voted today to limit interest 01
wm uuihikts 10 -4 per cent, Instead
ui inc incvuinng maximum ot .1 pjf
1 .-ti.
After the meeting the committee, lj.
sued tho followinc stntement :
"The clearing house committee r.
ommended the adoption of the im.1.
ment in view of the request of the Fed
eral Heserve Ponrd. This has the ap.
proval of delegates from clearing hoimsi
nil over the country, who at a recent
conference held with the reserve board
in Washington, deeided that then
ihould be nn increase In the intercut
rate paid on bnlnnces and that the
maximum rate to be paid tinder clear-
Ing-liouse regulations slinu 1 not In.
crease with nn increase in the Federal
ueserve Htmrtl Miscount rate tor ninety
day paper beyond n miximiini of 2',J
Mrti" nnnr '
l . . 111.
GEO.A.HUHN&SQNS
STOCKS AND I10ND3
Members of tho l'hlladclpbla. Ne
Turk and Chicago Block Eichmii
New York Cotton Excbanc
Commission Orders Executed in
All the Principal Market
UKI-LKVUn COthlT ULDU.
IMS Walnut St,
NBW VORK OKiaOW
111 llroadivay. New York
adins futures ranted 3 follows
Corn (new delivers)
uneti 111311 Low Close
ins 1 KS-, l.anT. l.r,7
l.H.-i 1 .1:1?, i.ar, Laj?,
.131. 1..12'4 1 30", 1 ,10'i
Jan
Ma j
Juh
O.lts
Mav .
Julv .
Pork
Jan. .
May . .
i.nru
May .1 SO
Julv
nibs
Mav "0 .'.
Julv
Hid. TAskcd
Y.'ft
Cltle
1 nss
.".S.ST
na .17
Tilj
as S7
:io.:i7
j t nn
n.-i 20
20.70
21 11.1
R1'
.is 7;,
an or,
si.
7f.4
82",
as so .i. -,n
,Tl 17 3!l II
21 7J
2.T 12
f.T, 12
20.110 "20.(10
20 SI 20 S2
S4 1.1
21 9.1
in.no
20.7.1
lliMilliiiliiilMM
Ten Thousand
Call li
MY Bank
The feeling; of pro
prietary interest that a
bank account gives a
depositor is magnified
many times over by the
satisfaction of Conti
nental - Equitable bank
ing service.
Ton thousand deposit
ors testify constantly to
this satisfaction. Appli
cation of the same sqrv
ice to new accounts will
multiply its efficiency.
We welcome desirable
new depositors.
SfcoNTicNTAL-Equitable
1 itle ho Trust Company
12th Street Above Chestnut
Philadelphia
$1,000,000 Capital
$1,000,000 Surplus
OVKn StU.OOO.OOO IIKI'I'SITM
Service in the Preparation of
Your Income and Excess
Profits Tax Returns
"A t!lc P'cabl,rc i'1 announcing that Mr.
' V Harry B. Sutter, formerly of the Office
of the Solicitor, Bureau of Internal Revenue,
Washington, D. C, is now associated with this
office, for the purpose of assisting our customers
and others in the preparation of their Federal
tax returns.
You arc cordially invited, to avail yourself of
Mr. Sutter's, services, which arc rendered with;
out charge.
Clayton F. Banks
421 Chestnut Street
Philadelphia
Correspondent
Guaranty Trust Company
of New York
fib. A
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aU,
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