V
4-
t Y I
Mr r- -
v
EVENING PUBLIC MDaERPHJLAI)ELPHlA, TUESDAY,' JANUARY 20 ' 192tf "
r.
e
.. Il
hi t.r
,-a' fi
- A
,
1
fM
UrJ
ri
'ml
1 1 Wl
mi
$
'M
m
mi
Bf
!!
W'i TO
fc'feV,ffg
ETilf! isi.ri
'.Mm
Superior
Oil
' -
M
.- 'Jn
W"'
." wiJJtlREE vacuum sys
wrT terns arc beinp; in
ks 5, Atallcrl; onn luhniilrl ha
2, .'Sewpoted during January,
.Iftftn n-! ji-. ii..
' p6'so is to Increase tho
; production of crude oil,
i ;arifl secondarily the do-
'VClopmcnt and production
of caalnEhead gasoline.
Tho first unit on comple
tion Is expected to show
annual net earnings of
$90,000 or about GO cents
per share, in addition to
ostimatcd annual earnings
of $G.40 per share.
n initial (ji'nrfcrlj; dividend
nf Ihn amnio! mlr o (too
dollars per shaic has been
declared.
Quoted on New York Curb
i Circular on request.
C. E. WELLES & CO.
Members JV. 1
71 Broadway
Ti
above information is
official sourcis
Stock i:xchano9
Now York
row
NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
MARKET EXTREMEL Y DULL
WITH IRREGULAR PRICES
Traders Disposed to Hold Off Pending Action by Federal
Reserve Board on Credit Situation
I NEW YORK STOCK EXCHANGE TRANSACTIONS
New Yoi It, Jan. 'J0. Today's market , onstrntpil b.v the ror.itiMUR movements
was extremely dull, Irregular and eti- I of the leaders, nlthotich most rlinugos
tirely professional. More than two-1 were limited to fractions. Striking ex
tl'.irdl of the day's transactions oris- reptiuns were furnished, .lowevcr. by
Inated and were confined within tho four several of the miscellaneous specialties
walls of the stock exchange. There wax in which reactions ranged from 1 to
line outside business, as the public as l o points.
wetl rh the more important financial I 1 eaturcs of comparative strength m
Intcrcsts were Mrouglv disposed to look ' eluded the steels, equipments, sugars
on rather than to participate. 'and high-grade oils. There were many
There were no developments to divert ' stocks, however, which Minwed nn en -the
market from its sluggish mid ' tin- nbjence of support, among them
iircgulur trend during the morning. I being 1-nmouj Players, which dropped
The more active i-peculatire interests, I points to . iU. a lo of about 10
however, seemed disposed to hold off. , points from Its high of .'Mterdii.. There
pending possible action by tho 1'Vderat I appeared to be little detnaml for .the
Heservc Hoard, which was reported to stock. It met much the same experience
bo giving further consideration to the " BOm,p, , ",f J1,c ,y i'lrVi"n. ,!L.
general credit situation. 'shares did during the liquidating move-
As a matter of fuet the general clinr- i ""'. '" . .,... .
aeter of the market differed slightly from I The motor group was also inclined to
,u. ..c .1.. ji .!... '.,, hmpai. Onernl Motors was the heav-
WlUt HI lilt' III IL-l'lllUK aOIUW. V.W.VWI - . , i . ,1 !......
tho ttirther narrowing of speculative In- ht of the. popular issues losing almost
o, Sndisna
ern
Iffipf I 50 year Mortgage 4 Bonds
Ihiil due January I, ISSS
I
terest and the increasing professional
ism of tho dealings. In other words,
the market seemed to have reached a
juncture where little encouragement was
offered for much activity ou either side.
The extension of the short interest ap
parently has reached such dimensions
as to make it imprudent to enlarge
commitments on this account, while on
the other hand, nothing developed of
sufficient influence to warrant any con
centrated action agaiust the bear party.
Compared with the lively trading in
the immediate preceding sessions, the
t! points, but later retrieved a greater
part of the los.
Call money opened at S per ceut, im
mediately cased to 7 per ceut. which
was without influence.
Call loans got down to 0 per ceut
at midday, indicating the abundance
of demand fuuds. Trading continued
iu extremely light volume, however,
but ull losses of the forenoon were re
covered. Further gains iu active in
dustrials were shared by the motor and
utilities groups.
Oils, motors and lo.td Minres tea-
initial dealings were conspicuously tame i tured the further improvement 'of the
and colorless. Tho uncertain attitude ' lat hour, steels and equipments also
of the trading clement was agaiu dem- I making additional gains.
Guarantee! principal anil lntfrr.t br In-
lorsrment of Hie Lake hore .V Mlrlilajn
AouUieni Kallua Co. imiu funolltJut-il
with the Iver lork Central nullru.id Co.)
u
IMPROVED TONE . "
; IN CURBJARKET;
Philadelphia Slocks
Tree of IYrionnl Property Tux In
rcmihMi.inl.1
Price 76 V2 and Interest
yielding about 5.35
Biddie & Henry
tt 04 SOUTH FIFTH STREET
Petroleum Stocks Continue to 1
Attract Bulk of Attention
at Advancing Prices '
SUBMARINE BOAT STRONG!
I Bank
Warrants
Bought Sold
u
C K. Garrison
30$ Widcner BIdg.
Bell Phone. Wal. 4103-4133
Keystone Phone, Race 2ZQ0
m
IM
..C'-iMt
L JI. ' -
Phila. National
Bank Warrants
Bought Sold Quoted
'HhNHT U. B0&NNING & GO.
STOCK EXCHANGE III II DIVIl
Dlrftt Trlrale Telrpbone to cw York
Members I'lilla. Muck l"icli.in;o
panadian Northern Equip
New Yorlf. .Tan. "0. There was a
generally strong tone to the lradiuT
sto-lts or the Kroad Street Cnrh.
Simms I'etroleum moved up njore than
il point, to o'f, and there was a good
emaiul at advancing prices tor Home
Oil and Oil'ilund. International Petrol
eum was firm, selling at 70 to "OHs.
Ornheum I'irdc. when issued, was
traded in for the first time, selling at
M to Wt.
f;ennrnl Asphalt wis one of the
tronee.t features, mov'ng up from li;t
to 11.-1.'..
There was a good deinurd for Cleve
I 'and Auto (new) hlh old nt ,"S to
02. De BccrM, another newcomer on the
I curb, was traded in from -17 to 47',.
.Snbnmrine Tioat was t,tronc, selling at
1C15 to io-;.
I There was 11 imall amount of liusi
1 ness in American Locomobile, whl'''
I ".old at 21'Vj. (ieneral Motors was
1 steidj; with a few --nles at "1 to .12.
I 1'nited Itetail Candy ranged from
1 101-j to 1(1.
' INDUSTRIALS
.Vlllfd Piiklnir
1 -Vm.il Tiro StorpR
1 Amr S.ifctv tnzor .
Brltlb..nifr chem
1 T'rftli!h-Anir Tob ri-s. .
Hr!Mli-Anir Tob coup.,
ii'ur I.IrIii
viurnM Unii-ralil
I De U.ir
' (I.-nral Asphalt
OnniTAl M01013 . ...
I Hupp Motors
I I,ocomobll .
1 Mont-Wanl
North Amer Paper
Fei lection Tire
Root Vandrvort . . . .
Submarine Kot
Manvood Hubber
Trlanirle Tllm ...
I V S stfum
rnltrl rt.et.iil I'unrii.
I rnltoil I'roflt f Marine...
United Plct Prod . . . .
INDlil'EMin.NT OILS
I Allied Oil U
Am tl Ui fi!tv :
Bell P.-trolcum i,
Eoone tll .
I'jston AVrm.ns
1 Hurl nott V nit t leave
fni-ib Mndli.it.
I itle-3 SfriKn U ati
I ''intlnental Ucf
I t'osden i Co
Esmeralda Oil
Fvleral Oil
lllih Vnw Clon
lid Al Jn-... .v't ti-i -i.
VI Am Sir--. :-)n :M!,j
71 Am l!as. ,"1!! .'ILj
1 lid U' nf.101! Hr.'
100 15 V S t
c met.. -WW, 1llai
nir. r.i stor..i3iM t-'u
1 (UP Ccm 5Vi "i"l
1(5 I C N A at :si
Key Tel. V2 V2
:;o u s cor 1:1 '-'O'i
lit! Lans.Mou S.'?',.j 8!Pj
C.0J,ch Xav. ai 01
CO l.eh Val. -il !"
lOIIMIdvalc. -Hl-v, 40a,
!1 Nor Pa.. Si's SWs
Ml Pa It U. -IL'M. -I'J'i
Vl'J Ph Hank
war . ..l.lii 1117
Id Phil Co. lyi 10' j
22 Phil Co
cum pf. !!.-''i "41"
.".OS Phil Klrc l!.-Vi -"
:;is p n t tc 11 2711
2.-. Phil 'l'rac C.1U (U
200 Heading. 7f, 711
20 Ton Pel. :: I!
IIU lllll .Villi. -' I
10 Un Tract I'.liii
10!) U C, I... 55
0V I i s. .SV?
t'altl In 110MJS.
liiimi iiuit i.ow
1 Am Gas &
Klco 5s... SO
J! i:i vc Peo
Tr Is.... 05
2 I.k Sup Inc
os ii
NVt
chffo.
:S!Vi
.".Pi- V
102 ..
in 'v. ',
lai-ii-ni
VA :
:m ..
12 ..
21 ..
SMliPi
or i
i:ir! '
JII.V.4. V.
SPs-f ls
421,- yh
1ST. -fO'i
MIL., f Pi
!5:i;-i-1'h
25V. i',
27"'s if,
lVi -7i
7iiN..
nou.
54 v
NVt
chsc
so
05
01
so
05
01
Balm
303
100
100
300
2S0O
700
aoo
100
1300
100
100
12 0
1..00
200
UOO
010
2J0O
030
1300
130
3 J JO
3fi
10500
AOO
3100
1100
1200
200
lino
1300
1000
10C0
100
400
6030
G200
100
400
700
300
1200
200
2p0
200
too
300
300
300
"00
Dlv
In
ItlBh Low
. . Ativanco P.umely 42 41
0 Advance Rumely pf. . . 701-i 7014
. Alaslui Clold Mines... 14 1 ?
Alaska-Juncau O M. .. 3 3
. . Allls-Chaltncra 1914 lli
7 Allls-C'lialmers pf..., 8H4 SJ4
8 AmABrloChem 6iyB nl'
0 Am Agrlo Chcm pf... . 95 S
H Am Beet Sugar 8.114 2)4
6 Am Kect Sugar pf . ... 00 1)0
8 Am Bosch Magneto ...118 110411714
Aiu ooscu ris ofti
Today's Net
Clpno Chee.
43 4 1
lOri
1 ..
3
8J4 I- 7
8714 .
ny, U4
M Hi
9 4 M4
003
Am Can ' Mft
7 Am Can pf 00
13 Am Cur & Fdy 13
4 Am Cotton Oil 40 4
80 Am Druggist Sy'n 1494
AinHldo & Lather... 0
Am Hide & Lcath pf. .1174
Am Ice pf CJU
Am Inlernat Corp . . . .J09H
Am-La France linglno n
7
A
r.
.so
3
7
f.
4
7
3
7
10
8
30
(i
7
e
10
&
2d 7 00 3. SO
100
230 4
3100
0.5)0
100
100
100
400
1)03
800
100
1000
2C0
COO
2200
300
100
?- 100
3000
400
300
200
..00
700
310
100
2S00
1300
3300
3300
100
100
100
COO
100
5
8
.50
30 30 .",0
1SV-, ir.'i IS's
1.T-. 15 I.""1
lll I) !H.
'lli 20-, 20?,
21 VI 21
2'. -'. 2
17 1(1 1
47 '-a 47 47',
ll.'.'j 113 llr.li
:i2 :ti r.ii
1.1 'i 151', jjnj
24 'J44 24 ;
39 30 38
5 5', 5,
l' t 4n
52 3t r.2
iTi iat in',
17. 17, 17,
4
4 J'4 .,
niu in jr
1 lidi A'til tKlilli; lOP.i lOPv, .'s
1 do ann 4iAs WMi Wis S2li..
5 do cons 41-is
1112:1 reg.. 01 ill !)l s
2 Leh V Coal
5s reg ..OS US OS -"i
4-5 Lib Pds
4th 4s. oi.;;o 01.2s oi.;:o.io
1 Nat Prop
4-0-,
1 Phila Co
cons 5s. .
2 Phila Klec
1st 5s
5 P J & V
4s
7 1'n
lev
Jtvvy
5. . .
:;o
SO
ill
741..
:;(i
so
01
Jill's
71
iu.
2,
404
4.1V,
3
!
.),
2 '4
1'1'a
11 u,
3'lln
131,
::o . .
so . .
01 1
JIG'j Vj
741j Vi
ns,
TRADING IN COTTON
IS WITHOUT FEATURE
Glenrock Oil 3J,
6s, Series "D"
Due Dec, 1920, June. 1923
Free of Normal Federal Income Tax
1 Free of Penna. State Tax
j Price to Net GM)ci
jTownsend Whelen & Co.
t 505 Chestnut Street
Empire Gas & Fuel 6s, 1 924-26
jun co. os, i yi.v
Penna. Water & Pr. 5s, 1940
enna. & Mahoning 5 s, 1922
uftv Glllespla
(iillllanil .
Horn, oil ..
r Houston Oil . .
! Hudson o.l . . ,
IbUii.I Oil
l.lvlnKflton .
, Ma.-iliattan Oil
1 M"rrltt Oil .
Milrnn Tart .
I MaKma . .
North Amor Oil
Omar Oil
Phillip Ptrol
I'roaucnr c,
Ran Oil
Fa It Crpk Prod
PVquryah Oil
PkiIv Oil
Simms Petrol .
Spenoer Prtrol .
Txaa Raniper
Texas Co w i . .
Tropical Oil .
Victoria Oil new
ul.-ati oil
". hue or.
V'oodbuii
an.
.ii
3H
. .. . 1IH4
is
IU
4iJ
.".'.! S4V4
HeflliPr ON
41.
4S
::::: ,24
54
IS'i
::::: A'
. ... 21 14
.. . SSI 1
Kare 4 I t
liSVoemt SIQ1 Land title Bldg
LtJ X A H, rm vv . T v i . .'
m A i I tlN I1UIN!
wide-awake
Alas Br Col
1 Atlanta
, He.th.-r Dtvldi
Belcher nivlde Hit
Bis l.edco ....
I Hooth . . ....
( Boston A. Montana
I Caled Minlna
1 I'alumet & Jeromo .
anada t oppur
MINIMI
ai,
3
31'.
St
130
U
l'
3il
111
IS
si
4U
ST
!"
4
4T,
534
3iVj
21N
i'
0
.is
7.
1mtlaji9 refertnres evat
nan.
.najienL connections vith
Elnany.
about to eh
wish to inaU-
havinr i 1'ona Virginia
Pienrh nnrttCona Conner
i-1 ri" ,,ml (jr- Creson Gold . . ..
t-mpo-ir- or per- Crescent Ucamara
An rii.tn buslne. DIMde tSXC
Jsoncemii to renr. S'-n' 'hem n m." to..n , r.l .Salvador ....
pp. commitsio'i jr oniaiy ta' Ii All J.ureka Croeuu? .. ..
ales confide" i -i'i Minlnc
II 310. T.edk-er Office. , Golden Gate End ..
r 1, .I,, - - . itina iunt
r'' uimm
' I" v"f -
1
2VJ
17
31
iA
4 !
2'.i
29
.
11
p.-
ST. MAURICE PAPER CO.
i Bond and Stock
1 -tz Dniii a. rn
.f.Mh. l'hllu Sfnrlr ..li.titi-
1421 CHESTNUT STREET
'laid Kpunnn
Gold Siher Tip .
lreit IJfnrl ...
I Ipc I a Mintiu- .,
(umbo Ixtnnlnn
Ivnnx Divide . . .
l.Va,mam
Gold lion
Marsh Minlnt? . .
Mother (.ode . . .
Mother Lod new
National Tlti . . . .
Vradn Ophlr . .
XiplKfline
North Star
ACCOUNTANT
Vditor and Rsdltant tu exe utile, with an
Maiyuuai inu.u r -ui.. upernuou. uicom i , .;n,
vnnanciai aiausucs ana prirparinit re-, pn.h..7.r vtinii
Uf fully nualllled bv Ions varied experl-' 5? r'Jii.n
r, jeires perinanuni ioaitiun, ainarie.
'latlVH. Anierirail i;eucm re,Frenfea.
..Hnhln star.' MTr.ent.nn.il nnitlillp.MAn.
&nd uouual expenem-e II, lere. 43 VVah
(iirtn Knuare, Ne Y.rfc i'tt
' ft,l..lj..A.nl.l.. I'kMlrlt. I flllltlllllV lltt.
TtV.'.t' Wli"iwll Ivorlliifii Tracllou .1,
W $v .rlrbm . ?." .(',.'upi,.,,' '' 0,'
H ku.,Kliri,iliL Conl A t oke To. .1
T.-" 7 Wehfllrr I'ul A "oke Canipnur S
lit F.1 iT v.ufjiitaAlirin
IlnlliiHy Co. lit Si,
JU'l
Itf.U
1U31
ids;
11m
in
It.
liu
3
t
2'i
41
h
1.1
t;s
31
t"n
n
1.1
.12
II H
I)
10
20
A
U
i 'rlBlOlhKrn IHIIIIKI w. "V u. -
r MHWilann ruhrnerr Tiullnai' . 1031
4Tsmuel K. Phillips & Co.
-Mplbcr Vhlladelplilt mock l.Vfnanje
" " Ml CIIIT.Nl'r KT.
1Aynence E. Brovn & Co.
f, ...JlTIFFED PUBLIC ACCOUNTANTS
3V.UK.tr. IWTATB 1IICST 11I.IJO,
ccouBtit. iXlo iireiiaro V. U.
x aetnmi.
rPfe'
f
ipa
iU, Wilson
'ublic Accoi
I WJg-, rhiiadf 1
Rone Group
Mllier Kins of ArlS...
Sllvr Klnc Ulv 10
n wiiver iaa
Tom pah Belmont 3
Tonopah Cash Hoy "Vi
Tonopah Dlvldo 3'.
Tonopah Exlennlon "hj
Tono-Jlm H 2.1
Tonopah Midway 22
Tonooan Mlnlnff 2 v.
Tonopah .Montana . .
Tonepal. ncuo Eula
United Kaatern
Victory
Weit End C 2
Whlta Capa 11
White. Capa Bxt 2
Wllbert 7
TcrlnKton
1il
33
73
40
'i
. 4'i
3
1
2',
12
113
31
21
III)
II
10
20
;
U
J"
2'n
3'H,
131,
3
IH4
'.
Si!
.1".
130
r..
i'
30
10
18
Mi
v-
sih
in;
4'.
I7-
H
in.
r,t
l1--.
021"
21.
V'
SK'l
1
34
...
n "
73
411
'.
I
4'i
2S
2R
S
$
3
1
2H
12
1.3
.11
21
BU
6
IP
'
10
20
1 ,
Prices Hold Steady in Absence
of Offerings Sentiment Re
mains Unchanged
COTTON BELT WEATHER, CONDITIONS
ew York. Jan 30 The 'ollowlns tem
peratures were recorded In the cotton lwlt
this momlnK- Oklahoma city. 48. Tort
mltli Charleston and Wllmlnston r.2.
Maron bavannah. Tampa and Jackson
ville M Auiaista and Atlanta .18;
Merldl'in. Montffomerv Knuvllie N'a.h
vllle and TromaHvllle "i. New Orleans
and Pan ntonlo, no. Vlckaburs. Memphis
and I.lttle Botk. H2. Pensjrola Gaheston
and Shreieport. (It .ind Corpus Chrlstl.
fi' Sllzhi precipitation wan reported at
Uiot and Atlanta
New York, .Inn. "0. Tlioro was vrry
liltlo fpnturp to th" early nftcrnnnn
rotton innrkpt. I'rit-es IipIiI stp.nlv in tlie
nbfiicp of offrrincs and thorp was noth
inji in the iipvvs to bring about a change
in sentiinpnt.
A -oiitliprn wire reported an im
proved demam! for the low grnilps. for
vvliieli holdprs were ipoeiving full prices.
Stocks of the better grades at interior
points were down to n minimum.
Kvport clearances for the daj were
smaller than of late, but the total for
the season to date continues. well over
a million bales above the corresponding
ouie a j ear ago. uno exportH were
i;.'i0f bales, all to Great Britain.
Clearances for the season to date were
Ij.Ilflr!,.":? bales, compared with '-YJIT,-Ji-S
bales for the corresponding period
last t-eason.
Test Today's 11. O0 1.30 2 30
close open a m p. m p m
..1 .11 ;(N in. ;ih u
3H .14 3(1 20 30 20 38 37
14 ll.l 34 IS 31 32
? on it'. 1 ii 32 CO 32 02 32 .14
30 33 30 20 30 Ol
-V 2V II)
READING MAN DIES HERE
ncoo
inn
MOO
7 bio
2000
1 no
sun
100
290
, 100
13100
100
200
100
2200
230
900
201)
.1030
100
.100
GI00
200
300
.1)0
MOO
300
1C0
100
1000
:ioo
100
200
3230
1100
200
1000
3300
mo
200
100
Am Linseed SH
Aml.lnseed pf 90
Am Locomotive OS
Am Ship & Commerce. 20
Am Smelt & Ref MH
Am Smelt & Ref pf . . .100
Am Steel Foundries .. 4U4
Am Sugar net 137,4
Am Sumatra Tob .... Ot',4
Am Tel &Tel 8
Am Tobacco 260
Am Tobacco pf new... 97
Am Tob Sec temp ctfs. 07 Vi
Am Woolen 1511a
Am Woolen pf 10Is
Am Writing Paper pf. Mb
Am Zinc Lead & Sm.. 20H
Am Zlno 1. & S pf.. M14
Anaconda Copper .... 02 ii
AFsetB Realization... . lii
Asso r?rv Goods
Asso Dry Ud3 1st pf.. 74 'j
Atso Dry litis 2d pf . . 7.1
AtcU Top & Santa Ke. 81
Atlanta Bin" & Alt . . 7?
Atl Gulf & W I S S...160
Atl Gulf & W I S S pf . 70
Baldwin Locomotive . .113ft
ISaltlmoro & Ohio .... 31ft
Balt'moro & Ohio pf.. 45ft
Bethlehem Motors ... 27ft
Bethlehem Steel B... a5?4
Bethlehem Stl S'"c pf..H3?i
Butto Copper & Zinc. 10
Butte & Superior Cop. 28
Caddo Central O & It . 23 1 j
I'anadlan Pacific 12?a
California Packing ... "
California Petroleum.. 40
Central Leather 95 H:
Central Leather pf ..103
Cerro de Pasco Cop. . . SO
Chandler Motors . . . .127
Chesapeake & Ohio . . 55
Chicago Gt Western.. S
Chi Gt Wet-tern pf. . . . 23 !i
Chi Rock Isl & Pac... 27V
Chi II I & Pac 6-c pf. Gft
Chi 11 I & Pac 7Tc of.. 71 Hi
CM St V Minn & O... 30!i
Chi St P M & O pf.... 52?
Chile. Copper 10H
Chlno Copper 3MS
ClucU Pcabody 90 Vi
Coct-Cola 3H
Colorado Fuel & Iron. 42ft
l.'olumb Gas & dec... 65ft
Col Graphophono 52ft
Colo i Southern .... 23
Contlnetal Candy t2',a
con Interstate Cal M.. 19
Consolidated Gas . . . V
Consolldated Textile . 28 ?4
Corn Products Ttef... 81ft
Corn Products net pt.io'
12 Crucible Steel
. . Cuba Cane Sugar . .
7 Cuba Cane Sugar pf
10 Del Lack & Western
. . Denver & Hlo G pf. .
Dome MIHC3
Erie
Krle. 2d pt
Famous riayers-L. .
Federal Mln & Sin pf
Freeport Texas ....
Fisher Body
Flsk Rubber
Gaston Wms & Wig.,
General Cigar
General Klectrlc
General Motors
General Motors pf.
General Motors deb. .,
Goodrich B- F
Goodrich B F pf
Gt Northern Ore ctfs..
Great Northern pf...
Gulf States Steel . . .
Hartman Corp
Haskell & Barker Car
Homcstako Mining .
Inspiration Con Cop.
Interboro Con Corp .
Inter Con Corp pf...
Int Harvester
Int Mer Marino
Int Mer Marine pt. .
Int Agrlcul Corp pf .
International Nickel .
International Paper .
Intermit Paper pf . . .
Iron Products Corp .
Jones Bros Tea
1
r
h
12
6
C
1
7
4
7
5
i
0
U
!0G
. 52 ft
. 85
.185
. 13 ft
. 13
. 13
. H
. h'-Sft
. 30
. 32
.122
. 42 ft
. 17 ft
72 ?A
.167 ft
.303
. 84 ft
. 82?i
. St ft
,100 ft
. 38H
. 77ft
. 70
.108
5 8 14
G7
50 ft
I
12 ft
129
41
97 63
79ft
21
83
76 ft
47 ft
20 ft
5ft
53
99
137
40
in ft
25 M
115
OS ft
108
14
81
95 ft
117
25 ft
08 ft
100
43 ft
136
93
07 ft
200
90ft
06
148ft
101ft
41
I84
Ii8ft
til ft
4ft
59
74
75
81
7
159ft
70
tun
31ft
45 ?4
2fl
l4-?4
11J
10
28
23
129 ft
80 ft
40
S3 ft
103
55 ft
124
51ft
8
2!. ft
26 ft
CO
71
30 ft
SI 9a
10ft
38 ft
90ft
36
lift
03 ft
51
2.3
12ft
19
Rift
28 H
82
100ft
202
5034
84
185
13
12H
13
14
77 ft
30
32
122
41ft
17H
71ft
167
209
81ft
82 H
70 ft
100
38 ft
77 ft
76
107
58 ft
67
503,
3ft
12ft
l'!8ft
10 ft
96
79
21
8134
70 ft
47
20 V,
534 ft
53H Is
9 ft
138 1ft
4ft t,
14 - ft
20
115 3
05' ft
10934
14ft ft
US -1ft
96 134
98 1ft
2534 ft
08ft- ft
100 34
44ft 1ft
137ft 2
91 34
98
200 3
97 ft
07 ft V
150 - ft
104J4 ft
5lft- 134
2034 1H
58ft ..
2!l ft
434 1
59
- 54
1
74
75
84
7
160
70
113 ft-!- 1ft
3134- ft
4534 94
27 - ft
95H
11334 ft
10 ft
28
23ft
129J4
- 34
1
1
82 1ft
94
ft
l?a
ft
14
40 -
8334
10s AG
120ft
M H-
8
23 ft .
26ft ft
60
7lft 1ft
30 ft ..
51 54-- 34
10 ft ft
3Sft- ft
90ft . U
37ft 134
42 ft
64 94
52ft 2ft
23 - ft
12ft ft
19 34
82 1ft
2S?4
8334
100ft
205 ft
5194
8534
185
13
1254
13
11
79 -30
32
122
41 Ji
1734
72ft
167 -
307 ft
84ft
8234
SOft-1- 1ft
100 - ft
3834 .
" 77ft 34
7U - ft
107 - ft
58ft 34
07
5634 94
4 ft
12ft ft
129 ft
404
9734 I ft
79 1
2434 94
h294 94
76ft 34
47 ft ft
26ft- ft
Sales
400
500
100
1310
Dlv.
In I
Krji City Southern
i .Kelly-Spg Tiro 13434
8 Kelly-Spg T 8 pf. .104
2 Kcnnecott Copper .... 3034
II leh 1.ovt
ISM 1534
132
101
5800 1.20 Keystone Tiro & Hub.. 3Jft
1290 0 Lackawanna Steel ... 84ft
. .Laclede Gas of St L. . 10
Lrthlglt Valley tt
Loft Corp 23ft
Locwe Co 30 ft
Mackay Cos pf 04
Manhattan Kiev guar. 44 ft
Manhattan Shirt 33ft
Martin Parry 28
Maxwell Motor 3134
Maxwell Moto ctfs... 31ft
Maxwell Moto 2d pf.. 37
Max Moto 2d nf ctfs. . 20
Mny Dept Stores pf. . .100 ft
Mexican Petroloum
100
300 3.50
000
1500 2
20 4
300 7
200 1.75
100
100 .
100
400
300
300
10300
7
10
17200 1.20 Middle States Corp
Mldvale Steel & Ord
Minn & St L new ..
Missouri Kan & Tex.
2200
2011
200
700
300
200
500
1000
100
100
300
300
109
00
197
4494
40 ft
13 ft
Oft
100 2.50
800
7
5
7
5
4
.50
.60
'
6
.1
3
1ft
V
234 I
ift
1.
ft
9a
ft
ft
ft
234
ft
300
100
1100
200
1000
100
2500
1200
7300
1700
100
251)0
2700
1700
10300
7000
1400
100
1400
400
100
500
0990
400
1500
200 a
100
400
100
10700
7030
20a
4100
100
9111
200
100
200
UOO
C500
AOO
5700
1000
300
23300
400
10O
900
5200
900
400
10500
100 A
3100
900 10
200
100 7
200 3.50
100 10
600
A200
9700 3
200
1000
8700
9800
9600
100
20500
700
700
900
200
100
3'JO
300
200
300
800
6300
100
100
COO
1900
100
100
Missouri Pacific 25ft
Missouri Pacific .pt. . . 41
Mulllns Body 48
National Acme 3834
Nat Anlllno & Chem.. 6S94
Nat Anlllno & Ch pt. . 87
Nat Conduit & Cable. . 10
Nat Enam & Stamp.. 83ft
National Lead 81ft
Now York Air Brake. 107
New York Central.... 08ft
New York Dock 45
New York N II & H.. 28 ft
Noifolk & Western... 06
North American ..,.. B5ft
Northern Pacific. 78 34
Nova Scotia S & C... 71ft
Ohio Cities Gas 47
Ohio Fuel Supply .... 56
Okla Prod & lief .... Oft
Otis steel 3894
Pan-Amer Petrol .... 91 ft
Pan-Amer (B) 8834
Parish & Bingham ... 43
Pennsylvania UK ... 4394
Penn Seaboard Steel.. 34
Pern Marquctto 1 3034
Plerce-Arrow Motor ..69ft
Philadelphia Co 4134
Pierce Oil 20
Plerco Oil pt 5ft
Plttsbuigh Coal of Pa. 01
Pittsburgn os VV Va... 29
Pond Creek Coal .... 24ft
Pressed Steel Car ... 06ft
Puntu Alegre Sugar . . 92ft
Hay Consolidated Cop. 219
Heading , 7634
Heading 2d pf 35
Remington Typewrit.. 80
Beploglo Steel 46
Ilcpub Motor Truck... Sift
Republic Iron & Steel. 110ft
Royal Dutch Amer. ..100ft
St .losenh Lead 15ft
St L San Francisco... 1994
St L Southwest pf .
Saxon Motor
Seaboard Air Line .
Sears-Itoebuck
Shattuck Ariz Cop .
Shell Trans Trading
Sinclair Consol Oil
SIobs Shert S & I . .
Southern Paciflo . .
Southern Railway ..
Stromberg Carb ....
Studebakcr
Stutz Motor
Superior Steet
Tenn Cop & Chem. . .
Texas Co
Texas & Pacific.
Tobacco Products . .
Transcontinetal Oil . .
Transuo & Wms Steel
Union Oil
Union Pacific
United Alloy Steol . .
United Drug
United Drug 1st pf..
United Fruit
Un ny Investment...
Un Ry Invest pt
United Retail Stores.
U S Express
U S Food Products..
U S Ind Alcohol ...
U S Realty & Imp...
U S Rubber
U S Rubber 1st pf..
U S Steel
U S Steel pf
Utah Copper
Vanadium qorp
Va-Carolina Chem ..
Wabash
Wabash pf A
Western Maryland ..
Western Paclllc
Westlnghouse U & M.. 62 ft
5ft
. 19 ft
. 7
.220
. 13 ft
. 81ft
. 43
. 75
.10034
. 2ift
. 73
.104
.125 ft
. 46
. 13
.20S
. 3ft
. 93
. 37ft
. G2
. 35
,122 ft
. 49 ft
.143
. sirs
.190 ft
. 1334
. 28 ft
. 87ft
. 30 94
. 68 ft
.108
. 5134
.12694
.11534
.100
.11594
. 70ft
. 6094
. 00ft
. S
. 23 ft
. lift
. 24
Whltn Motor "l'A
Willys-Overland 20ft
Willys-Overland pf ...
Wilson & Co 75
Wisconsin Central . . . 33 H
Worthlngton Pump .. 92ft
Worth Pump pf B.... 72
Wfinlvvorth F W 124
30 ft
3334
83 ft
40
43 ft
2334
3994
04
41
32
28
313
31ft
20
20
10094'
19.1
42 ft
49 ft
113
ft
25 ft
40 ft
48
38 ft
6434
87
10
82 ft
81
107
0894
45
26 ft
05 ft
55 V
7834
71
4034
50
0ft
35 ft
01ft
87 ft
43
13
my
2094
07 94
30 ft
1034
95 ft
60 94
28 ft
24 ft
95 ft
88
3194
7534
35
86
U
351ft
108ft
106 ft
1594
1894
25 ft
18
7
220
12 ft
83ft
43
71ft
100
21 Va
72 ft
101ft
IV.
46
lift
202
37 ft
01ft
26
02
34 ft
12194
40 ft
143
51ft
196 ft
11
25 ft
84 ft
30 94
07 ft
10534
52 ft
133 ft
11594
10494
115 ft
7634
50 ft
60 ft
8
33 ft
11
2394
53 ft
CO ft
38 ft
90
75
32
91
73
124
JY
ft
ft
ft
' " ft
ft
lft
ft
94
ft
94
Ji
194
Ys
1
"ft
V
ft
ft
ft
lft
94
91
1
94
Today's Net
Clots Chr.
1534 ft
13494 194
104 ft
30ft- ft
34H ft
8tV
40
44ft
33 -28-3194
31ft
27
30 294
100 ft- ft
l0J4-- 3ft
4494 lft
1994
13 -
Oft
87
10
83ft
81ft
107
6894
45
26 ft
96
55 ft
78ft -71ft
47
50
9ft
3094
2ft
8394
43
43 - ft
33 3ft
30ft 94
69ft ft
41 lft
20 ft
95ft lft
6094- 94
28 - ft
21ft li
90ft 94
92 ft 4ft
2194
76
36
801
40 1
51 ft - V
110ft lft
106 ft- ft
15ft
1894 ..
35ft 2ft
19' V
7 - ft
320
12 ft
84
. 43ft
75
100ft ..
'lft
73 1
10394 ft
125 ft lft
40 lft
U JS- ft
204 ft 194
38ft- 94
93 ft
27 ft
63 lft
34 ft
122ft ft
49ft- ft
143 - ft
5lft - ft
106 ft ft
1294 ft
28ft 3ft
87ft 154
30 94 - 94
68ft ft
107ft lft
6394 lft
120 3
11534 3ft
ft
94
TRADING. IN LOCAL STOCKS
AGAIN ON SMALL SCALE
Interest for Time Being Has Been Diverted to the Attractive
Note Issues
Trading In (ho local stocks continued
on tho same, limited scnlo during the
session, but prices were, fairly well
sustained. In most cusc.8 dealings
again conspicuously lacked initiative,
which was not unnatural, In view of the
ciistlng uncertainties of the general sit
uation. Interest, for tho time being nt least,
from nn investment standpoint, has
been diverted from the market proper
b.v reason of tho attractive IiuhIh nt
which 11 number of tho note Issues are
being issued. With many of these new
issues offered ou n 7 per cent basis, and
in sonic cases even nt n higher rate of
return, it is not surprising so little
attention is paid o tho stock market
offerings. As a innt(cr of fact, however,
most of tho leading seasoned dividend
paying issues have been selling on vir
tually 11 7 per cent basis for some time,
'flic short maturity of the notes, how
ever, apparently gives them nu addi
tional attraction.
Prices changes except in a few scat
tering instances were ngniu confined
within fractional limits. The only ex
ceptions were supplied by Lehigh Navi-
1 Tntw
"I,
gallon and Philadelphia Cp. ctimulattvo
preferred. The former ou very litnife.i
transaction? advanced $1 to M ThllJ
the later on broader dealings rose ."51.(30
Trading in tho Philadelphia National
Bank warrants continued falrlv active
The first sale was mado at 120. un
changed from yesterday's final sale, from
which the, prico reacted to ,127. onlv
to quickly rally to 181, PhlladdpbS
Klectrlc appeared to find strong sun
port nt par, United Gas Improvement
shaded under C on light sales. Lake
Superior Corporation on small dealings
reacted to 80 V6. while Lanston MoT
otype was off $1.G0 from tho previous
baio nt oojj ,
The limited demand was emphasized
in the fractional concessions made bv
n number of the inactive stocks from
tho previous talcs. American Gas
off A nt 51; Buffalo and Suu"
tinmin preferred, JA at 40. Electric
Storage Bnttery advanced t. to 131
Bond dcnlincs wero pnimllv" iiu.j
Philadelphia Co. consolidated ris vicWZ
etl 1 per cent to 80 and Philadelphia
Klectrlc 1st Cs made a similar decline i
01.
n similar decline to
LONDON STOCK MARKET
O
Industrial Department Lively Mines
Dull Home Ralls Mixed
London, Jan. "0. Dealings in securi
ties on tho stock exchange were re
stricted today because of tile opening
of the subscription lists for the new
O'li per cent exchequer bonds. The
gilttcdgcd bectiou was hard.
The oil group was buoyant. Sncll
Transport was 12 11-32 and Mexican
Kaglo was 127s. Homo rails were
mixed, with a tendency to await an
nouncements about halt-yearly dlvi
dends.
Strength was noted in some indus
trials, and that department was lively.
Mines were dull. Tho tone of Hussions
and Egyptians wns good.
DIVIDENDS DECLARED
Commonwealth Power. Railway and Debt
Co., quarterly of 1V4 per esut on oreforred,
payable February 1 In lntrrstbear!ner serin
maturlne February 1, 1020. to holders of
reectd January 20
C'hleaKo. St. Paul Minneapolis and Omaha.
Hallroad, semiannual of 2v4 Pr cent en
common and 814 per cent on preferred, pay
able February 20 to stock of record Feb
ruary 2.
Ilrooklvn Edison Co.. quarterly of $2,
pavable March 1 to stock of record Feb
ruary 0.
Pullman Co.. quartorly $2, payable Feb
ruary 1(1 to stock of record January 31.
Central Railroad of New Jersey, quar
terly of 2 per cent, payable February 2 to
btoek of record January 29.
Htewnrt Warner Speedometer Corporation,
initial quarterly of 1 per cent on common,
payable February IB to stock of record Jan
uary 30.
Further Improvement In Sugars
New Yorli, Jan. 20. The refined
sugar market showed further improve
ment in so far that another refiner has
entered the market, thp National now
quoting at 15c. less 2 per cent for cash.
This is a reduction of 40 points from
the price previously quoted, bringing
it down to the same level as quoted by
the American Sugar Helming Co. Ar
bueklp continues to quote 10c, less 2
per ceut for cash. The Federal and
Warner companies of Philadelphia are
still withdrawn. The raws market is
somewhat less, active and offerings arc
said to be increasing. Buyers show
a disposition to hold off.
Prices Firm on Paris Bourse
Paris, Jan. 20. Prices were firm on
the Bourse today. Three per cent
rentes wcru quoted at CS francs 2(1
centimes; exchange on London, -lit
francs 15 centimes; B per cent loan, 88
frnncs 00 centimes. Tho dollar was.
quoted at 11 francs 70, centimes.
RAILROAD EARNINQS
CANADIAN NATIONAL RAILWAYS
102O Increax
Second week January $1,S4,2?0 t44s 77
From January 1 3.800,428 78l'9S
BUFFALO. ROCHBSTKtl .AND PITTS
Vtecona week of Janv jsao.flivn Js.sna
ix' rum .jitiiuuijr m. .... i.tiu.inj
Decrease.
53,777
To
Corporations
and
Private Investors
We offer full facilities in the one
case for satisfaction of capital re
quirements, in the other for the
proper investment of surplus
funds.
We specialize in the many estab
lished OHIO RUBBER, MOTOR and
STEEL SECURITIES, which are
listed only in Cleveland.
OTIS & CO.
Investment Bankers
CLEVELAND
Cincinnati Detroit Columbus Akron
loungslfttvn Oninlia Denver
Colorado Nprlncs
Members all principal creiaito-rj
rrlvote wires to leading markets
105?i
115H
70 Vi
MVz ..
00& J4
8 - Vt
23H 1.
XVA-
23 -
01U IK
20J4 ?4
00
75 .
3'Jft-t- H
9U4
Vi 2
I'll
Ex-dlvldend.
Mn h.
Oct.
FOREIGN EXCHANGE
New York. .Ian. 20 The foreign rx
change market opeued with declines iu
almost all cases. The exceptions were
an improvement of n point in Italian
exchungc over yesterday's close. Chris
tiania improved ." points. Huble notes
were nominal nnt! scarce at 1.20 for
S2 l'ZW:i 'nrl,',r I absence of any sort of aggressive
HKUt l"u iiiwmi' .... w .,, ......
high.
Sterling opened lower. Francs
Miovved a decline of .'1 centimes and
Stockholm nnd Copenhagen lost, re
spectively. 10 and ." points. Belgians
were unchanged.
Quotations were: Demand sterling
!5.67j, cables ll.liS'.j: franc cables
li.UM. checks 11.0.': lire cables lil.OS,
checks 13.71 i Swiss cables .ri.,"li, checks
5.5S; guilder cables :i"r,s. checks :!"Vj;
pesetas cables lll.O.'i. check 18.S)."i;
Stockholm cables 20.0.".. checks 20. .TO;
I'lirUtinin cables 10.40, checks
L 10.2.1; Copenhagen cables 17.00, checks
17,-iii; Jlelginn cimies ii.u-5, ciipcks
ll!70; marks 1.00: Austriuns .40;
mark?, spot currency, 2.25; Ilumauian
2.20.
At 13.S0 for cables and 1.1.R2 for
checks Italian exchange established a
low record. Marks were n point above
the low record made this morning nt
1 fiO. Sterling declined further In
aioo'i for demand nnd :!.U7',L- for
checks. Francs wero heavy nt 11.72
for cables and 11.71 for dinks.
2t
7!,
.Vi
HI
1.1 is
to 29
4
17 IS
3
31
23
.5s
jo
4
17
o
II
7
4
J. Lewis Rake Was Prominent In
Business and Fraternal Circles
Heading, Pa., Jan. 20. Word was
received here today of the death in
Philadelphia late last night of J, Lewis
Hoke, of this city, for many years a
prominent figure in Itending business nras being transacted
anil initernal circles. lie was sixty 1
j cars old
.Mr. JtaKe was a former national
NEW YORK COFFEE MARKET
New York. Jan. 20. The coffee mar
ket opened barely steady today. 11 to
12 points lower, sales being mostly from
local trade sources, with Wall street
and pominUsiou houses the principal
bu.vers. , . ,
During the morning bession the mar
ket ruled exceedingly nuii't. ami " He
absence of any sort of aggressive de
mand prices worked down from initial
figures, .March selling from 15.00 to
l.-.85 nnd May from 10.15 to 10.07, or
10 to IS points net lower.
Local sentiment is btill nervous and
unsettled over conditions in the pri
mary markets, nnd there wns 11 disposi
tion on the part of traders to wait fur
ther developments from Brazil.
Private ndvices from Brazil way that
the government there does not intend to
Faerififc that market in the sale of gov
ernment holdings.
Today's
omnlnc
10.10
1(1.11
,...10.32
'18 05
IIS.IIO
15 SO
BUSINESS NOTES
March .
.Mav
Julv . . .
September
OrtobT
December
Hid.
Test
eloHft
1H.01
1H.2.1
111 4.1
1H.V3
111 02
10 CO
BANK CLEARINGS
Hank clearlnuB today, compared with lor
roipondins tlav last two jeiir": . .
1020 nno mis
Phila ..ISO, OSS. 313 JII3.0H1.SS1 IftS.nLTi S31
N V... im0.777.18l U0S,OS3.O7A 605,200,030
nix. 2s 7nit nan in,93s,ii04
Baltimore H. 1.10.017 12,223,41)7 . .
11.11,11,11 11. 4(15,380 04,5311,203
Allied Pack 6a .
flelrlan 80 of '23..
Helelxn Hs o( 'SI.
I II T 7
Russian A Vi s
BONDS
.1 RI M
P.Vi B5V !I5;
nn osh nt
73 7.1 73
34 34 31
rr- y? BAR SILVER
& Ll'nvill Commercial bar silver was quoted In
. , i6W lorn uuqj ui. tpiM-rj "" uuuivr,
inlunlS nn ndrnnco of tic. In London the price
bin, ( ras iid bKr pt 1WA? '
commander of the Sons of Veterans
nnd a former potentate of Itajali Tem
ple, Nobles of the Mystic Shrine, of
this city. He Fcrved as u councilman
before Heading got the commission
form of government and several times
declined to become a candidate for
mayor. He is survived bjr his widow
and two daughters. ,
Man Dies While Visiting Neighbor
Seized with a paroxysm of coughing
while visitingi thp home of a neighbor
last evening, .William Heed, slxtj-twn
years old, a former conductor of the
Philadelphia Rapid Transit; Co., stag
gered through the kitchen door of the
house and died a few moments later In
the back yard. Heed, whoso home is
Franklin street, went
Charles O arris at 2011
NortSi Jessup
MONEY-LENDING RATES
NKW YORK Money on call opened
toduj at 7 per cent for lending nnd re
newing. The time money tituatiou is un
changed, nnd there is little actual busi-
Moncy IS Of
fered nt SV, per cent on industrials for
uWtv nnd ninety diivs and 71,-; per cent
u 1,1,1 fnr those nerlods on good mixed.
Prime mercantile paper fails to i-how
anv increased volume and the tunc is
firm, with (1 per cent the minimum dis
count figure. Ilroliers are disappointed
over the failure of the activit.v in that
market usual toward the cud of Janu
ary in normal years.
The condition of the collateral loan
market continues to reduce operations
in prime bank acceptances. Hates arc
unchanged and call loans arc uuultered
at the 44 per cent figure that has ruled
for some time past.
PHILAnKLIMlIA Call, II per cent;
time, H per cent ; commercial paper,
three to six months, fl per rent.
LONDON Money is quoted at !li
per cent. Discount rates, short bills.
ft per cent; three roontui., bills, Sfy
ner rent. v .
,. ... ,.., ,- ,
Charters Filed
Dover. Del.. Jan. 20. Charters tiled
here today were: The .Tewett Higelow
and liroolcs foal Co., mine, sell nnd
ship coal and other minerals. $S2.500,
000; T. L. Croteau. C. H. Hlaske,
H. Vj. Dill, local. Wilmington, Del., in
corporators. I'hi.iinluu Navigation and
Trading Corporation, build, own and
Derate boats. $0,000,000: Theodore L.
Kniest. J. Median, II. L. Kills, Jr..
New York. Incorporators. Detroit
Steering Wheel Corporation, manufac
ture unit sale of steering wheels for au
tomobiles, mntorboats. etc . ."M.O.IO.OOO ;
William V. Okcefe. (Jcorge ii. Steigler,
K. i:. Aberlee. Wilmington. Del. Vic
tor Saw Works. Inc.. manufacture of
nil kinds of saws. $3.r00.000; Samuel
H. Howard, C.eorge V. Heilly, Robert
K. Thistle, New York, incorporators.
Associated Stores Shoe Corporation,
manufacturing business. $2,000,000; A.
C. Torgcson. Cedar Rnpids, la. : A. E.
Simmons, Davenport. la. ; Wheeler
Sammons, Chlcugo, 111.
Cutlery Plant Damaged by Fire
Dradfnril, Pa., Jan. 20.- The butcher
knife department of the big plant of
the Case Cutlery Co., with shops located
on Barbour street, sustained a dumage
by lire estimated at $10,QOO this.
morning.
The gray goods market continues quiet
in so far as actual business transactions
are concerned. A good inquiry for near
by deliveries is reported, with goods
very hard to obtain. Some suggest that
it would not be nt all unlikely at this
time to see a slight reaction.
An advance of tlO yen in tho last
two days, carrying Sinshui No. 1 to
4100 cn, with Kansai No. 1 quoted
at 4170 yen aud all other grades in pro
portion, wns described in cable dis
patches received jesterday. A visible
supply of 8500 bales is reported. This,
however, is said to be fast declining
under the incrcused buying by Ameri
cans and Europeans, with Americans
somewhat conservative. Prices are also
said to be rising rapidly.
More than 1,201, 250 skunk, raccoon,
muskrat, mink, sable, fox, otter, lynx,
beaver, bear, wolf, wolverine, ermine,
squirrel, mole, white hare, nutria,
ringtail opossum and badger skins will
be offered at the tale to be held in Lon
don on January 20. Included in that
amount are o20,000 skunk bkins, 105,
000 opossum, 100,000 raw squirrel,
200.000 mole nnd 25,000 nutria bkins.
The first shipment of potaa to reach
this country directly from Gcrmauy
since 1014 has arrived in Baltimore on
the steamship Cnuibas. The cargo con
sisted of 77.'i0 tons, 4230 being manure
salt. The demand for potash has been
very active for some time, nnd prices
much above those quoted nominally on
potash from Alsace nro being realized,
A well-known French buyer has, pur
chased at least $500,000 worth of upper
leather in tht New 'York and Boatou
markets within the last few weeks.
The price is figured in terms of dollars,
and a credit is established with n
French bnnk having n correspondent
In America, with periodical bookkeep
ing adjustments arranged as the for
eign exchunge market fluctuates.
Reserve Banks' Discount Rates
IThe first column gives rates for all
periods up to and including a fifteen
day maturity; the second for a period
of sixteen to ninety days. The third
and fourth columns give rates for re
discounts of collateral loans secured by
government bonds or notes.)
Boston
New York
1'liila.iclplila
ntchmond
Cleveland
Atlanta , .
I'hlcaai' .....
St. Ixiula . ...
Mlnneapolla .,
Kanaaa Cltr
Dalian. ,,.. .
Man Kraniaco
Com'l oauer Govt, paper
, ,. 8to0 18 to 90
13 flays (lava IS days clavn
i 4?
'"i
4 s!
4&
;.? : :i
V4 4. IV
H; i &
Vi i'A 4i
nil
Sk 5k 5.
PHILADELPHIA NATIONAL BANK RIGHTS
HARHBS0N & CO.
BANKERS
106 SOUTH FOURTH STREET
Philadelphia
Members New York and Philadelphia Stock Exchanges
Attractive Possibilities of
French Government
4 Loan of 1917
PER 1,000 FRANC BOND
Approximate present cost $67
.Approximate cost at normal rate $140
Percentage of. profit at present price and nor
mal exchange ." 100
Redemption (par) value at normal rate $193
Percentage of profit at par value and normal
CXLimilLjC IO o
In addition, if coupons are withheld and not collected
until exchange returns to normal, another substantial
profit may be had through increased yield.
Further details on request
6.HANDEER & (jOMPAIK
HCORORATS0i
Franklin Bank Building, Philadelphia
!veT York
New Iluren
Hoston
Uultlmoro
Hold-up Insurance
Robberies and hold-ups today are frequent
occurrences.
Protect your business and residence in this respect
by policy of the
NATIONAL SURETY COMPANY
The World's Largest Surety Company
The Thomas B. Smith Company
General Agent
LINCOLN BUILDING
Forgery Bond. Banken' and Broker' Blanket Bond.
Telephone us for immediate coverage .
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