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eix
EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, JAHtlAR ,22, 1920
Superior
Oil
The 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.
C. E. WELLES & GO.
Members IV Y. Stoi'k Uxchano
71 Broadway Now York
Thi abwe inforrtntion la Iron
official sources
NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STdCK QUOTATIONS
MARKET FLATTENED OUT
AFTER EARL Y HESITANC Y
Further Collapse in British and French Exchange Accepted
as a Matter of Course
Fhila. Nat. Bank
Warrants
Bought Sold
C. K. Garrison
308 Widener Bldg.
Bell Phone, Wal. 419S-4t9
Keybtone 1'hotie, ltaco 1261)
Xctv York, .Inn 22. Today's htocU
market wns n (Int. professional affair.
Tiittle of anjthlnjr in tho way of novelt.v
developed (luring t!ie day to relieve the
monotony of the program of tlic swap
ping operations of the room-trading con
tingent. As a matter of fact, the market
vvns duller nnd less interesting than that
of the three Immediate preceding &C8
sioui. Dealings were largely of a perfunctory
tjpe. as indicated in seemingly growing
indifference to current events. For in
stance, thp further decline of UritNi and
I 'reach exchange excited little interest,
and the (t per cent opening rate for call
lonns was accepted as a matter of course.
The congressional deadlock on railroad
legislation received a similar Indifferent
reception. The increase in the Good
rich dividend likewise fell flut. hut the
eood effect vvn in a measure counter
balanced by the proposed new issue of
preferred stock.
The report that the Mexican Govern
ment had decided to allow new drilling
bj the oil companies under temporary
permits infused some life momentnrib in
the trading of the oil shares of the
companies hating properties in that
country. Tt was only a flash in the
nan, becnii"" of the discover) among ttit.
pool interests that they were irtually
bidding against each other.
Oils weiv the only tintiniul feature
at the he-Kant opening. I'an-A'xerienn
Petroleum and Mexican I'etreum were
1 and .T1-. points higher 'pectivcl . Tn
other quarters of t'rre list it wns evident
In n way the operations of the fore
noon were almost a complete reversal
of yesterday's movements, In that the
declines sustained in the first fifteen
minutes were followed by general re
coveries. The market, however, flat
tened out toward the end of the first
hour, with the dealings falling to less
than the average proportion. The minor
steel shares and shippings met moderate
pressure, declining 1 to 2 points, In
ternational Mercantile Mnrine being
about the softest spot on the list, mak
ing n new low for the current move
ment. Around midday the railroad shares
became a little more active without any
particular iueentlve other than the un
derlying confident belief that the rail
road problem will be ultimately straight
ened out satisfactorily to all concerned.
Southern Pacific took the lead nnd was
supplemented by Pere Marquette, in
which the buying seemed to contnln
some significance. The group, as a
whole, quickly regained most of the
earlier concessions, and some showed
substantial gains over last night's clos
ing quotations.
The movement in the railroad shares
was given additional impetus by the
semiofficial reports from Washington
that certain objectionable features of
the Cummins bill probably would be
eliminated. Otherwise the market re
gained all its sluggish and uncertain
characteristics of the morning, con
NEW YORK STOCK EXCHANGE TRANSACTIONS
that latest conditions, particularl) the tinning to ignore the foreign e-cchnngc
unscttlement iu foreign exchange, would situation as well as other conditions,
cause further restraint. Reactions- ex- Steels, motors and equipments led
tending from fractions to 2 points i the ery gradual recovery of the final
marked the eanj movement in reprcsen- hour, mainly as a result of short
tutive industrials and mils. ' covering.
MARKET NEARLY
Philadelphia Stocks
AT STANDSTILL
Latin-American Republics Are
Seeking Financial Accommo
dations in This Country
MIXED PRICE MOVEMENT!
I
f-Stock Salesmen-
A w 1 ork HroUeriisr limine
of unnuetttionrcl htnmllnp h del
uged ultli ritlliidelplilu lnculr!t"i
on a lifli-rln, rfMdend-pio Ins
Mld-Cnntinrnt oil recurlt.v short
ly to be traded In on the New
York Curb, under exceptional
market sponsorship.
This liouse want one or to hUi
ceftpful unlet men wltli e4lnbl-hed
IocaI connections nnd credentials
to follow u nnd close tuts In the
Philadelphia territory, but wishes
to get In touch wltli the Halenmuti
hlnifielf, not with any broUeruE
Yioune eniplojlns lihn.
There In n Mr opportnuil. for
the rlcht man who tan how
Tenalt.
Kenly In confidence to the ew
York address below, when tin ap
pointment ulll be nrrntiRed for
pergonal Interview with one of
the tlrm'N epreentuttFst t
rhilndclphi.i.
Address P. C. B., Postoffice
Box 372
City Hall Station,
New York City
L
)
MANAGER
Marine Insurance
Department
LatRe general tnsurance agency
la looking for .in experienced
nsurance m.ui who is capable of
managing their marine insur
ance department. Unu&ual op
portunity State ac, experience
and B.ilary required Apply to
GUY C. WHIDDEN
Advertising Agency
703 Bulletin Bids-. Philadelphia
Income Tax
Wo take pleasure in announclns
that forms 1040 and 1040 A have
been dlstributt-d by the Intirnj.1
Revenue Department. We will con
tinue our practice as in the past
and extend to all of ojr patrons
assistance In the preparation of
their Income Tax returns.
Our force has ben aufrmented,
and there will be two experts at
the oftlces of thi-i Company between
the hours of ten and two each day
to assist those who desire to avail
themrehes of this ervlee
TheJLajid Title and Trust Co.
Brood nnd OliMlnnt
Plillndrlpbla, r.
Phila. National
Bank Warrants
Bought Sold Quoted
HENRY D. BOENMHG & CO,
STOCK EXUMMJR ULII.DI.VO
Dlnct I'rltate Ttlrphonr to New York
Jltiobcm I'lillu. MucU Uichaoit
j New YoiU, Jan. 'Jl'. Th New York
Riming Sun's closing financial review
today s-ay.s:
i Today's stock market was finite a
dull and uninteresting a.-, the previous
' sessions this week. The bear, con-
i tinned to seek out weak spots and thoe
vvlio had stocks were no less determined
not to part with them. The result was
the striking of a stagnant balance iu
prices reflected in a mixed movement
' which has lapsed.
In this condition the market has got
bcond Hie influence of day-to-day
events; it seems incapable of being dis
tuibed or stimulated. It was ueccs
stirv nc.iin for tlin-e who have based
ktheir coil! so mi what ma.v be done ir
regard to the rediscount rate h. the
Kcderal Itc-crve board to endure titicer-
I taint.v for another twenty -four hours at
least, since no announcement was forth-
I looming from Washingtou on tliat sub-
I ject.
Tomorrow thrre will be the banning
conference in Chicago, following ivhich,
it is possible, something will b giveu
out. but it K doubtful if the stock list
vvill register anj thing definite no mat
ter what the decision mav be.
I It will be something, of course, to
I have the uncertainty of the situation
' remoed. and the shorts may be impelled
j to take to cover in a measure, but a
I bulge of that nature is rather far re
I moved from bullish ircentive iu-pired
b.v the promise of relief in the money
I suppb . And developments abroad are
! not of a character to inspire confident e,
I wlint with the continuance of martial
I law in (iermany and the menace of the
I Hus-ian Ueds entailing further military
operations.
, The most direct reflection of thcc
things was to be found in the foreign
exchange quotations which once more
, declined broadly, although there was
pretty good recover.v from time to time.
In addition to the financial burdens
relative to this country's loans to
Europe, the Pan-American conference
cow in session in Washington has dis-clo-ed
a desire on the part of the Latin -American
countries for accommodation
iu this financial market.
The one bright spot in the day's news
was indications that the conference on
the railroad bills wer; not lindis in
surmountable obstacles to agreement.
The railroad shares did not make any
i very material response to this, although
sentiment could not remain unuftectcd
I naturallv .
i MARCH AND JUNE HIGH
! DELIVERIES IN COTTON
."S4 Allin Ins
war .. . O's
:!",- Am Strs. 10
1 Am (".as. .-I'
100 K'olo P. :&
110 Kl Stor..1K0
11 I C N A. Ill
::.-. Kej Tel. ll.j
10 IA S Cor 0
,-.0 Lans M. 84 Mi
It I.eh Nuv. ((.
10 T.eh Val. 4:n4
.-. Mine-hill. ."0
l.VJ 1'eun Ccn
Light . US
L'lM I'n R R. 4UVi
."i l'a Salt.. 7".
10 Phila Hk.S."iJI
70 Phila Co
pref . . . oO
u"7 Phila Co
cum pf. ."r
711 Phil Llec '-'o
42.-. Phila Bk
war ...104
( P R T tc 2rt
100 tPitt&W 'JS'i
jr.'tneading 7,
100 Ton l!el. .j
70 I'n Tract liO'i
! i' t in,, i-"i
Low Clo-c
ChKC
t!
r.2
ino
:;4
121,
20
84
tK?i
4:iyt
r.o
i:i
12'S
7"
2o k
l.-o
2(1
2M4
7
2 V
i-t'n
(! Vi
10 ..
Sfi'.s
I'M V-
12VJ-f-20
841-s
IKlVi .
41174
r.o . .
J
'
i::
'-S-
1.V.I
-lVi
04
;;o l
.s 's
134 2T.
20 ',4
2SV4 ',
7,' 1
2U...
'Wi i
fti
'.0 f S Stl..l04-;C 104":, 104 1W
Vix divldopd.
tNet change niidc bv comparison with last
sale on New York btock n-xchange.
Kates tn l!ONl- Not
Jliinn Hlu-h I.ow C'lofe ilik-u
10 P.eih Stl ."is
IIKit! 07 U7 07 ..
i Citj li1-:
1!K!1 reg. 02''. 02 a 02',!. '
1 do Is Mo. !)S '.Ih 5IS "',
."7 Lib Iioiids
1st 44.. 0:.:!2 !)...22 !,22 .02
1 Vic 471s.. 0S.50 A8..-0 OS.oO.Ot!
3-5 Nat Prop
4 -lis so .".o r.o ..
.", Pa gen ,"s. i)04 !0:!i l0..
8Pacon4is 01M 'Jl'A HH4 3 1
" rh Co cons
Salfs
300
230ft
S00
300
200
200
1100
100
1300
t0
100
2600
1100
1700
200 "
8000
ino
5400
100
1000
4.500
800
2700
23 CO
110 I
401"
3200
5100
100
200
2400
J 100
300
200
4200
400
1000
21400 3
1100
(100
200
350
700
0000
100
200
100
200
200
100
100
900
100
200
1700
4400
200
400
. 300
COO
100
0D0
390
soo
000
1090
2310
100
2100
12230
100
1030
100
100
1100
300
200
100
1400
200
7510
300
310
3500
200
200
500
100
400
100
r,oo
390
090
700
3410
500
100
100
3390
000
10100
10CO
Plv,
Inl
tilth IOff
.. Advance liumoiy 1114 41
.. yiiasxa-juneau u ax... 3
. . Allls-Chalmers 40
7 Allls-Chalmers pf.... 80 H
8 AmAgrlo Chem 11
8 Am Bosch Magneto ...UStf
.. Am Can 53'
7 Am Can pf BO
12 AraCirft Fdy 130J4
7 AmCar&Fdypf 110
4 Am Cotton Oil 40
.80 Am Druggist syn 13H
.. Amllldo & Leather... 2434
AmHIdo & Leath pf..ll3H
Am Ice 45
Am Internat Corp . ...10SH
Am-La Franco Enclno 14)5
AmLlnsecd 80(4
Am Linseed pf 96!
Am Locomotive '??
Am Ship & Commerce. 25
Am Smelt & Ref H'
Am Steel Foundries . . 45 14
Am Sumatra Tob .... 03
Am Tel & Tel B7i
Am Tobacco 20'4
Am Tob Sec temp ctte. 60H
Am Woolen 140 H
Am Woolen pf 10H
AmWrltlnff Paper pf. 55
Anaconda Copper .... 0tl4
Ann Arbor 1H
Abso Dry GoodH 50 Ji
Arso Dry CJds 1st pf.. 7494
Atch Top & Santa Fo. MH
Atlantlo Coast Line .. 80)4
Atl Qulf & W I SS...102
llaldwln Locomotlvo ..1113
Bald vvln Loco pt 101H
Baltimore & Ohio .... 32
Baltimore & Ohio pf. . 45
Barrett 125U
Bethlehem Motors ... 27
Bethlehem Steel JB... 9114
Bethlehem Stl 8 pf . .H3'2
Booth Fisheries 134
Bklyn Rapid Transit.. 134
Bklyn It T ctfs of dep. OH
Burns Bros 108
Butte & Superior Cop. 27
Caddo Central O K . 22?
Cjllfornla PacklnK ... S2!-i
California Petroleum.. 39U
Cjllfornla Petrol pt. 74',fe
Canadian Pacific ....130 'it
Central Ieatlier OIH
Central Leather pf ..100H
Cerro de Pasco Cop. . . 55 5
Chandler Motors . . . .121
Cheuapeake & Ohio .. 5514
Chi & Northwestern.. 85',
Chi Rock IbI & Pac. . . 27
Chi R I & Pac 7 pf-. 70J
CM Mil & St Paul 30r,
Chi Mil & St Paul pf. 52 14
Chile Copper 1H
Chlno Copper 3834
Cluelt Peabody 93
Coca-Cola 375
Colorado Fuel & Iron. 3914
Columb Una & Eleo... 03
Col Graphophone 5134
Colo & Southern 23'A
font Can pf 101?
Contlnet.il Candy 1514
fori Interstate Cal M. . WIS
Consolidated Gas .... 82
Consolidated Cigar- 57 14
St
7
4
6
80
3
7
0
4
3
10
8
20
7
7
G
C
7
10
to
7
i
8
5
8
10
7
in
5
7
4
8
4
7
."s stpd... so
1 do 1st ."is. 100
12 Phila Klec
1st ,"s ... 01
10 Read gen 4s WJ
S Span-Am 1
Cs 100
2 I'n Ry Iuv
,s 74
1 York r.s ... 82
SO
100
00 j
80
SO
100
91
SO
1 r,
' 8
12
3
4
7
Porn Products Ref.
Corn Products Ref pf.105
Crucible Steel 207 3i
Crucible Steel pf !
Cuban-Amer Sugar . .127
Cuba Cane Sugar .... 6214
Cuba Cane Sugar pf.. 843
Delaware & Hudson.
Denver & Rio G pf...
Domo Mines
Kmerson-BrantlnB ,pf
Endlcott-JoKnson ...
Erie
Erie 1st pf
Friiioub Playerg-fi . .
Frecport Texas
Fisk Rubber
Gaston Wms & Wig.
General Cigar
General Electric ....
General Motors
General Motors deb..
Goodrich B F
Goodrich B F pf
100 100
82
82 1
EMBARGO ON FREIGHT
WEAKENS'CORN PRICES
too
700 4
300 7
100
200
790 5
.100 4
100 7
1100 0
290
1200
200 5
1490
770O
4000 6
100
6000
2G00
300
100 3
10O
100 4
1400 4
810 3
1800 1.20
700 8
. 9114
. 1234
. 1214
. 85
.135
. 131i
. 1BJ4
. 82
. 32
. 11 'A
. 17
. 73
.107
.3C4 ti
. l?i
. 70J4
. 9714
. 35
. 38
. 78
30
70 14
10 c
News Creates Impression That
There Would Be Accumula
tion of Supplies
Greene Cananea. Cop.
Gt Northern Ore ctfs.
Great Northern pf...
Gulf Mob & North pf .
Gulf States Steel ...
Hartman Corp
Haskell & Barker Car. 57?g
Illinois Central 88Ti
Inspiration Con Cop.. 5014
Interboro Con Corp .. 4
Inter Con Corp pf . . . . 12 H
Int Agrlcul Corp pf . . 79
Int Harvester 130
Int Mer Marine 3734
Int Mer Marine pf... 05',
Internat Motors 1st pf. 81 14
International Nickel . . y
International 'Paper .. 8114
Iron Products Corp .. 40
Jone3 Bros Tea 27
Kan City Southern ... 1514
Kansas City So pf . . . . 45 !i
Kclly-Spg Tire 133
Kennecott Copper .... 30 Vs
Keystono Tire & Rub. . 33
Lackawanna Steel ... 83
2
48!4
8014
013i
11514
62)4
99
130
115
40
13 V,
24
11214
45
10014
1414
84
9014
07
241',
0734
44
91'
07?s
200
C534
14014
101
65
61
0
8 3i
7434
8234
89J4
160
11014
10114
3114
4514
126
2014
93
11314
1314
133
9
10614
27
2234
83
3?8
7334
12814
S964
ioo?4
5514
123
5434
8514
26
70
36
5114
ls'i
3614
,93
36
37
e.i
60 34
2314
10234
1214
1814
81 34
5614
r-334
10414
204
9914
410
50 34
84
9414
1214
1314
83 14
135
13
19
81
313&
40
1614
72
167
300 ib
8114
7714
97
35
37 J4
77
30
7614
104
5714
S8J4
f534
4
12(4
7814
13714
35 J4
C314
8114
2414
80
46
37
1514
4514
13014
30
33
8214
Today's Net
Closs Chro.
41 14
2
40
8614- 1H
0134 34
11514 1
93,4r
136 14 -1- It
116 4- I
40-14
1314- K
2414 ..
113 J4 9
45
108
14144-
85 134
0014 14
0714- V
2434-6814-46
14
63
Sales
In
UIv,
Men
200 .. Le IXTtr & Tire.. 34
1700 .. Kcorj 2314
800 J-LoewoCo 31
inn 13 Lorlllard P Tobacco.. 170 14
V 3. SO Lehigh Valley 43
3j0 1.75 Manhattan Shirt 3214
14
14714- T4
104- 14
55 4- 94
1 14 -
1014 114
6834
71
8234- 114
89J4- !4
162 134
111 !i
10114- 15
3114 14
4514 14
125 1
2614- !4
0414 14
11314 ..
1334
13- J4
9- 34
10614 34
271
22 3- 'A
82 - 14
38- 1
7334 - 34
12S 14- 34
01 - Yi
10614 14
5514 ..
12314- 14
6434- J4
8514- 34
27 14
70-1
36J4 y,
5214
181s-
3634- l!4
93 - 314
36-3
33 - 14
C3
51 - 1
2314 14
10234 .
12' .
1834 14
8134 1
5614- 214
8234- V
10414- 1
20614 ..
9914- 14
43T 12
5214
84-1
0414 14
1234 34
13J4 ..
85 214
135
13
19J4 14
9114 .
33
41 - '
16 Ji- tt
72 - 14
167
302- 134
81 34 14
78
9714 !
35 14
38
77J-4 '
30
7014 14
104 314
5714- 114
88
CO - 14
4
1314- 14
78J4- 14
130
37
95 8114
2414 8134
46 -27
1514
3034-
3314-83-1
1
214
94
100 4 Mackay Cos pf 64
200 . . Martin Parry
600 7 May Dept Stores . . . .122
H00 7 May Dept Stores pf.-. 100
60 ., Maxwell Motor 3014
200 .. Maxwell Moto ctfs... 30 ,
200 ,. Maxwell Moto 2d pf . . 2534
190 .. Max Moto 2d pf ctfa.. 2514
16100 10 Mexican Petroleum ..19014
400 2 Miami Copper 23 34
11300 1.20 Middle States Corp .. 4314
103 4 Mldvalo Steel &ni .. 40
20 7 Minn St P & S St M. . 73
200 7 Minn St P & 8 S M pf . 01
300' .. Missouri Kan & TeX.. 0
600 .. Missouri Pacific 2514
100 .. Missouri raclflo pf... 1014
200 3 Montana. Power 05
10 7 Montana Power pf ...100
100 3 National Acme 3814
2200 . Nat Aniline & Chem.. C41i
100 7 Nat Aniline & Ch pf . . 8014
100 7 Nallonat Cloak pf.... 100
300 .. Nat Conduit & Cable.. 034
300 6 Nat Enam & Stamp.. 8314
900 5 National Lead 81
,100 1.50 Nevada Con Copper .. 1614
J 300 10 New York Air Brake. 107
700 5 New York Central.... 0814
1700 . . New York N II & II. . 26
100 4 Norfolk & Western pf . 08
800 7 Northern Pacific 7814
300 5 Nova Scotia S & C... 7114
2890 4 Ohio Cities Gas 4G4
1000 .50 Okla Prod & Ref .... 014
200 .. Otis Steel S614
100 5 Ot's Elevator 133
700 5 Pacific Gas & Elec. ... 57
2000 .. Paolllc Tel & Tel.... 13
8000 6 Pan-Amer Petrol .... 9234
1700 6 Pan-Ainer (B) 8914
700 3 Parish & Bingham ... 4314
1000 3 Pennsylvania R R ... 4314
SOO .. Penn Seaboard Steel.. 32
100 .. Peoples Gas Chicago.. 37
20OO 3 Pero Marquetto 3034
1990 . . Philadelphia Co 40 34
4300 .. Plerce-Arrow Motor ..6814
2500 8 Plerce-Arrow Mot pf.. 104
4290 .. Pierce Oil 1914
100 8 Pierce Oil pf 04
100 5 Pittsburgh Coal of Pa, 63
2600 7 Pressed Steel Car pf . .10214
600 .. Pittsburgn 4: WVa... 29
100 7 Pittsburgh Steel pf ... 93
500 H Pullman Ill Vs
700 5 Punta Alegro Sugar . . 0034
60U Itay Consolidated Cop. 31
3100 4 Reading 75
100 3 Reading 1st pf 34
200 .. Remington Typewrit.. 0
100 Iteplogle Steel 45
8100 Republic Iron & Steel.10014
13100 .. Royal Dutch AmeT. ..107
5000 .. St L San Francisco... 1914
200 . . St L San Fran pf . . . . 20
100 1 St Joseph Lead 1534
100 0 Savugo Arms 7214
2590 .. Saxon Motor 1934
100 . Seaboard Air Line ... 714
6900 .. Shell Trans Trading .. 85
21100 .. Sinclair Consol Oil ... 43
790 6 Sloss Shcff S & I .... 75
100 7 Sloss Sheft pf 90
10600 Southern Pacific 100 J-4
1200 . . Southern Railway ... 22
300 5 Southern Railway pf. 5114
700 4 strombcrg Carb 7234
1660O 7 Studcbaker 10314
100 7 Studebaker pf 101
1500 .. Tenn Cop &Chem.... 11
4000 10 Texas Co 203
100 Texas Co full pd 190
000 .. Texas & Pacldo 3714
300 . . Tidewater Oil rts 23
1290 0 Tobacco Products ... tl
CltOO .. Transcontinetal Oil ... 2614
500 5 Transuo & Wms Steel. 0
1500 .. Union OH 31'4
1800 10 Union Pacific 122
500 4 Union racllio pf ,67
1300 4 United Alloy Steel ... 49
100 7 United Drug 14134
400 .. Un Ry Invest pf 27
6100 3 United Retail Storc3.. 8634
3i00 2 U S Food Products... 66
2400 8 U S Ind Alcohol ....105
100 7 U S Ind Alcohol pf... 102
490 8 U S Realty & Imp.... 52
8800 8 U S Rubber 121
100 8 U S Rubber 1st pf...lll
18700 5 U S Steel 195
400 7 U S Steel pf H6tt
1000 6 Utah Copper 7534
100 . . Utah Sec 10
800 .. Vanadium Corp 48
290 4 V&-Carollna Chem . . . 05
210 .. Wabash 8
3210 .. Wabash pf A 23
100 .. Wells Fargo Exp 52f'
300 . . Western Maryland ... 11
10O . . Western Paclflo 24
600 4 Westlngheuse E & M.. 52
600 .. Wheeling & L Erie... 12
600 4 White Motor 6034
4200 1 Willys-Overland 2914,
600 6 Wilson & Co 75
200 8 Woolvvorth F W 120
100 7 Woolworth pf 113
S700 .. Worthlngton Pump .. 2
300 .. Worth Pump pf B.... 71
31
2214
30
170
43
32
04
27
122
106
30
39
2534
25
19334
33
42
Low Clots Ghee.
Todsys "
31
23
30 34
170 43
33
4
29
123
106 14
30- 94
38-1
2534- 14
25
104 2
33-
43 ..
40 V,
73
00 -
8-2514-
4014-
65
100
3814
64 - 1
- 1
091
83 81 -10
..
..
20 .,
68 -
8
73
90
8
25
40
65
100
3S
63
86
100
034
83
80
16
100
08
20
OS
78
70
4534
0
36
l'4
14
V
34
r.
14
14
133 Ji 133
56
3S
90
88
41
42
32
36
29
70-
1034
9 ,
36-
40
0714
101
1834
01
60
102
28
92
114
89
2134
74
34
86
45
108
105
18
26
1594
72
1834
7
S3
41?s
74
90
9934
21
54
72
102
101
1114
109
190
36
22
89
25
5934
31
121
6634
48
14434
27
85
C5
104
102
52
123
111
104
115
74
10
48
05
7
22
5234
10
21
62
1114
60
2834
74
126
111
01
7114
66
42
92
88
42 -42
32
37 -30
40
68
-
01 -
34
14
133
2
5
m
14
!4
U4
14
1
62 1
1,
i
14
34
14
14
14
194
1
14
1
14
14
14
s!4
102
29
03
111 -
8914-2154-74-34
ts-
46 -
10914
107 11
19
20
1534
72 ..
19
7
84
4214-
75
90 r-
100
1-
51-72-
102-
101
1134 ..
20034- 94
109 2,
3714 9
22 - 34
00- 1
2534-
5934- 114
31 - 14
122-
6634- 1
48-
14434 34
37
80 0534-
104-102-62
-,
123
114
104-
115
74-
10
4S
It
24
-20
7t-
120,
113
9134
71-
TRADING AGAIN EXTRBMELY
DULL IN LOCAL STOCKS
Monotony Relieved by Spirited Rise in Philadelphia National
Bank Warrants to 160
The snlrlted rise of S'l In the T'lilln.
delphia National Honk vvnrrnntH to 104
supplied tho only bright spot of the
otherwise monotonous, dull nnd feature
less local market. The urgency of the
demand disclosed n surnrlslnir v smnll
amount of the vvarrautH for sale, indi
cating mat much of the irsuo which
had been overliBncinc tho market was
cleaned up several dn,vn ngo. This rep
resents u uct. udv-nnco of $.14 above the
initial price and $411 nbove the low price
touched last week, nnd is $30 above the
maximum price of the wurrnnts of the
preceding cnpital increase in 1018.
Trading it: the balance of the local
stocks wns desultory and entirely with
out feature of interest. Denlings con
tinued on the same limited scule and
what few price changes were recorded
were unimportant nnd without signifi
cance. Most of the transactions were
in small odd lots and only n few of the
local shares had n total turnover of
three figures.
Initial dealings were registered in the
preferred stock of the Penn .Central
Light nnd Power Co. at 42. The price
stibscqupntly was raised to 42V, but it
soon fell into the same rut of Indiffer
ence as with other local shares. The
stock is being traded in when, ns. nnd
if issued, pending the delivery of tho
actual certificates
moved up to 01. yesterdav fr .l
Initial price of tfy, fell bek TV"'
small offerings. The narroTne,?.?"
market u reflected in the dec! no of U
ii Lnuston Monotype, to 84. Aui V
the dron of SI .2,-, In i.-.Si .. 'S In
to 7fj. "Most of the , leading loSl .SI''
ruled steady, at least, this Serf.s
nnnlv tn ITnlte no'. ln" Bmed to
apply to United
I
vine iinnrovemAnt
Alliance Insurance warrants, which sufficiently attractive.
'hiladelnhia Kleetrle m,t ttJPi-V
tiou. ftlcctrlc Storage Bnttcrv drnlrZ'i
W)c on u slnglo transiiellnn V ioPP'1'!
Iteucnt developments In tho curmni
week, more particularly concerning th!
foreign exchange market and the rfonp
tary situation, contributed to PC i
still further restraint upon market t
terests. While these conditions hi
only an indirect bearing upon th- T
lion nnd future of ; the sK'Sfi;
locn concerns, still, measured from ,
sent mentnl viewpoint, they have far.
reaching effect. '"
Another factor which has helped
curtail market dealings was the wceirt
offerings of the attractive note !,,..
of United Gus Improvement Co .5
the Philadelphia Elictric Co. Tb'e Sd
sorption of these issues totaling .tin '
nOO.000 virtually exhausted, for the , ffi.
being, the overflow investment funds
and left only the core for the market
n, nutvi-vur, uemonsiratca Were is nUll
NEW YORK COFFEE MARKET
Now York. ,lun. 'J'2. At the start
today the market for coffee futures wus
f to 10 points higher on better cnblcs
from Uraxii nnd buying by Wall street
and commission houses.
The turn for the better in the San
tos futures murket, which was evi
denced by n special cnblo received here
after the close yesterday, reporting an
advance of 250 to 400 reis. was again
noticeable this morning with u further
advance in futures of 25 to 100 reis
and in spots of 200 reis. v
While these advances quite naturally
influenced local sentiment to some ex
tent, there is a disposition to trade
with caution, consequently the early
business wns of small volume.
Today's
March . . .
Mny
Inlv
tpptenibcr
Ictobf r . .
Dt comber
open
1.,. T.i
15.93
K1.1K
15.88
lb'.eo
Yett.
close
IB. 63
ir..i-,
16,08
ir,.,'-i
ir.,74
ir,,r.o
DIVIDENDS DECLARED
?,
94
114
14
. 34
94
1J4
14
14
H
li
14
14
14
94
1
14
194
Ex-dividend.
i List Again Under Pressure.
' Covering Rallies Prices From
I Lowest of Morning
(i
rhtlatlelulila Klt'ttrlc ( oniuuni
Johnstown Traction Comimny t.t 5s
xerre iiuuic iriMimn a
Aratrlmn l.ns I oinpuny
waterlso. Cedar l'all A Northrrn
101.4
Hill
snin
nun
1031
1931
191H
I.lrlil.
100-jtsr 0i,
Vnrth.rn t.
'rfw Ivlfk Conipjnr Int MUe. In,
.fohnHtotru I'uftftenjrrr Rnllusy Co. 4i,
Kortll Hhrlnsflfld !'ntir I'ntiinitnr .Is
American (las ('ininanr Toll, Tr. fis, 192(1
Jouss & Lauirhlln MrrI Co. lt ft, lii.1l
UnltI ios & KIm Corp. Com 4 Pfd. Mock
Members I'hlltidrlplil.i Stork I'arliunse
Samuel K. Phillips & Co.
897 CHESTNUT ST.
STOP, MR. EXECUTIVE
Don't carrr all tbe load jronrnrlf i get
trained -nmWtant. I hate hud nine jeura'
experience n nwutlvr nnd orrunlirr In
nonraaenllal biislnrna, but vvunt to let
Into neilve production line. Axe 33i rol
Ircr tdurutlnni full "f pep. ambition nnd
hard worki bare Munri Judgment and um
wiod. handler of men. Itw-rnlly illieuarced
fruui urmy na n'ujur of Infantry.
Ila II 128, l'ubllo Ledger
Important to
Income Tax Payers
iM Inventory nnd rebates of eon
taroinr for 1918 van be adjusted
j& KEPCWT CO.
MWUnd 7035 J. Ojonti 11M M
COTTON BELT WKATHEU CONDITIONS
VorU. Jan L"J The following tem
peratures wire r of tied In the cotton b".t
this mor-iln Abilene and Oklaho.ua '.',
Uttte rtock and Memphts. 32 Kort Hmttti
nnd Naslville 34 han Antenlo 3R,
fchfteport 40 Vtrkaburp. 44 Corpus
Chriitl. 4H. Galveston and Knoxvllle. 52.
Aurusta and Thomasvtile 54, Maron, At
lanta fcnd Charleton. r,0 'VVIImlnirton, 5R;
Savannah fio Ttimpa. fi2: MeridUn und
,Ju ksonvilie. t!4 N'ew OrUans and Fenna
cola. (Ifl . Thfre was 01 Inch of precipi
tation at Vensaco.a and Corpus Christ)
.06 at Galveston. 10 at Vlcksburt: and
Ban Antonio, 14 nt Oklahoma, 22 at
Shreveport. 48 at Knoxvllle. 34 at Fort
Smith. 60 at Abilene, .no at .Vanhvllte.
1.18 at Memphis and 1.30 at Little Rork
New York. Jan. 22. Tho cotton
market wits under presture npain this
morning and, excent (or March, which
was S pointh higher, and .Tune, 2J5
points higher, showed an opening de
cline of 1 to 17 points.
The elllng was led by Liverpool
and spot houses, and Feemed to be
largely based on the feeling that com
modity prices, responding to the Re
serve Hoard's possible action this week
with regard to redibeount rates, must
go lower.
The support wis poor this morning,
nlthouch enough covering developed
after the opening to rally prices nbout
20 points from the lowest.
Tteceipts at the ports for the day are
estimated at .1-1.000 bales, against .'12.
227 bales a week ago and 22,001 bales
a rear neo.
Test. Today's
open close
Jan. . . . 3T.7.1 37 111)
March . , SB. 73 a.v.K.I
May .,,. 33 71 a.1,70
July .... ni 7 ji 7B
K ,. . 29,90 S8.V5
BRITISH BILLS AT NEW LOW
Demand Offered at $3.60 in For
elgn Exchange Market
New Yorlt, Jan. 22. British ex
change fol. to a new low record nt
the outset of toda.v't. trading in foreign
remittances. Demand bills were of
fered at $.'5. G0y. which was J;c under
the previous low record.
With the exception of marks, which
showed n rally of 0 points from the
extreme low of yesterday, and Swiss
francs, which gained u centime, tho
market generally wns confused and
weak. v
Quotations, were :
Demand sterling o.OOVi. cables
hrnnplit nhnut bv renorts thnt permits I a. 01 Vi : franc cables 12.04, checks
for shipments of grain eastward either . " Vstf Sillier
for domestic use or for export. " I raijiPS 37. checks .'l7'4 ; pesetas cubles
not being recognized bv eastern rail- lg 7- rhecks js.ti.-j; Stockholm cables
roads, weakened corn today after U"' I 20,4s checks 20.40; f'hristiunin cables
market had developed steadiness fol-, 18,70j checks 18.00; Copenhagen cables
lovving an irregular start. J J7, checks 10.S5; Uelgian cables 12.1.r),
At the outset, there was a feeling of , cl'ck o,17; Inarks, i.r,o; kronen, .'.io.
nervousness because of probable action u mld.(laj. the market showed n pitr
by the 1-ederal ltcserve Hoard on dls- tj j rpC0V(.ry, with Kterling up VA from
count rates, winch caused recessions iu ,. ,,,' ,n... 1....1 nt am 1 for ,i.
GRAIN HRI.T -VVKATHER rortKCART
riileacn, Jan 22 llllnnW and Missouri
Mostly cioudv tnnlKht nnd rriday. nrob
abl snow or rain. Wisconsin Partiv
cloudy and continued cnld tonicht and
Friday Minnesota and North DaUnta
Tnir tonliht and Friday, colder tnnUht.
Iowa Musllr cloudy tonlKht and Trlday,
prnbablv llnht snow tonluht. colder Fri
day. South Dakota Unsettled followed
hy fair tonurht and rriday. Nebraska
Cloudy tonlKht and rriday. probablv light
snow tonight, colder tonluht in north and
in east and south Friday. Katlsas Un
setled tonlKht and Friday, prohahly snow,
colder Frldav. Montana Partly cloudy
and continued cold tontcht. Friday cener
allv fair. WyomlnK Cioudv tonight and
Frldav. probably snow south, colder east
tonteht
Chicago. Jan. 22. Liquidation,
11:00
a.vsi)
.13.70
81.75
1 30
p. m.
37.7.1
n.vH.i
3.1.77
31.S5
230
P. m.
BS'.7
13,77
31.H0
deferred futures, but January then was
firmer, on small receipts.
An advance in hogs helped to check
selling. Later, (ill options dropped below
the previous close, the embargo news
hnving created an impression that there
would be an accumulation of supplies
here.
The bad position of foreign exchange
attracted most attention. Shipments
from Argentina for the week were ex
pected to be large
mand nnd !S.(I2V for cables and francs
.1 centimes higher at 12.03 for cables
and 12.07 for checks, Marks were up
7 points at 1,51, and Helgian exchange
showed a further loss of 7 points.
Italian exchange failed to show any
recovery, bring quoted at 14.12 for
cables and 14.14 for checks, this be
ing attributed to the discouraging po
litical news trom tnat country.
In midafternoou foreign exchange was
tewfa;!? ! Sff4yW.S
were 3.ti2''4. rrane cnblcs were quoteil
at 11.08, checks 12; lire cables U.(M,
checks 14.10; Helgian cables 12.12,
checks 12.1J1, and marks l..r2.
shinning situation. Trading wns small.
Karly in the session buying by a local
professional helped to check recessions.
Receipts remained light.
Leadlmr futures ranted as follows
Corn (new rielUeryV
upen llisri U)V
. .. 1.44 1.44V? 1.42U
. . l.S4i 1.3.'. 1.33H
... 1.32 .133 1.31S
January ,
May
July
Oats
Maj ..
July
Pork
January May . .
Lard
May . .
July
Illbc
May . .
July . .
Close
1.421J
T.3lS
R2'i
75'i
73V,
S2
73
39.37 30.00
21 BO
..20 73
21.(10
24.97
20. S3
21 20
2 1 32
24 07
20.(12
20.97
2
75
39.00
39 110
24 .12
24 B7
20.(12
20 97
Reserve Banks' Discount Rates
The first mlumn gives rates for nil
periods up to and including a fifteen
day maturity ; the secoud for u period
of sixteen to ninety days. The third
nnd fourth columns give rates for re
discounts of collateral loans secured by
coverument bonds or notes.
Com'l paper Govt, paper
10 to DO 10 to uo
MONEY-LENDING RATES
NEW YORK Money on call ruled
nil day at 0 per cent.
Conditions are still very firm in the
time money market. No money is of
fered on good mixed securities, collateral
loans, and that class is quoted nominal
ly at the bid of 7'j Pr cent. A little
money is occasionally offered on indus
trials at the recent high of 8V per cent
and very rarely a transaction can be
put through in a small way on indus
trials at 8 per cent.
l'rime mercantile paper is siow ai
0 per cent, minimum discount figures.
l'rime DanK acceptances ure quiet ut
urichanged rates.
PHILADELPHIA Call. 0 per cent;
time, 0 per cent; commercial paper,
three to six months, C per cent. -
LONDON Money is quoted ut ."'4
per cent. Discount rates, short bills,
5 per cent; three months' bills, ,1
per cent.
BANK CLEARINGS
Hank clearings today compared with cor
respondinK day last two years-
1S20 1919 IBIS
I'hlla. . JR0.3SS.417 JIV.1 Ul,3 B2,7K,072
Boston . 7O.30S.732 SS.ODjI.Hnn 3..U07.4G0
c mcaffo m.wao. 1 o,,,sm.,o
rtiitm'e 1n.t1so.H4n i4,2r.o.ivf. . .. .
V Y. .. 7Rn.fi33,4(10 917,447.410 o24.800,n0l)
St Louis. 30,423,4111) 2,1H,I"I
Extra Dividend by American Brass
New York, Jan. 22. The American
Ilrass Co. has declured the regular quar
terly djvidend of 1 per cent, nrul an
cxtra( of W per cent, payable Feb
ruary4 to tock of record January 31.
IB dayi
. is
noston
New Tork .
Philadelphia
Richmond ,
Cleveland .,
Atlanta .
Chloaso
u. 1 .ttla
Mlnneapol1"! . jS
Kansas CUT .. . JW
a an IraBcUco "4!l
days
r
s
4 V.
$
a
IS
..... Jji
IB days
4 Si 4S
4K
41 4Vi
4S.
4
I
K US 4
5Vi
!
41
4
4
4
41
K
s
TARLO IS QUIZZED
FIRE TRAP
PROB
E
Owner of Factory Whero Six
Lost Lives Questioned by
Fire Marshal
After hearing witnesses ot the start
of a searching investigation into the
Tarlo factory fire, in wblrh six per
sons were killed and eight injured last
Tuesday night, Fire Marshal Cleorge
Klliott said today that there had un
doubtedly been negligence on flic part
of some one nt the factory.
Hn announced his determination of
learning the extent of the negligence
nnd fixing responsibility.
Mr. Dlliott spoke after having ques
tioned Albert Tarlo for more thon two
hours. Mr. Tarlo is active bead of
Itobert Tarlo & Sons, at whose factory
at 418 Addison street, the fire occurred.
Mr. Tarlo insisted that his firm hud
complied with the fire laws. "If any
law has been vinluted," he said, "I have
no knowledge, of it." lie added that the
fire damage was about $."0,000.
The fire marshal said that tlie law had
been violated because there was no fire
escape, although manufacturing was
done above the second floor.
Alfred Lloyd, focsman nt the Tnrlo
factory. -wrTbed the building as n
"fire trap." This, he said, wns due to
the age and construction of the build
ing nnd not to the neglect of his em
ployers. The Tnrlos, he said, were more
careful than any other cubinctmakers
for whom he had ever worked. He os.
sured the fire marshal that oils used in
the factory were ciircfully watched.
Lloyd had 11 narrow escape from
death in tho fire. He jumped out of a
fourth -floor window to the roof of n
lower building next door.
Firo Marshall Klliott is inquiring
into a. rtport that the fire started iu
the engine room from a hot pulley.
When tho irivestigntlon is comnlctcd
a repoit will be sent to Director of
ruulic hatety Cortelyou, who will sub
mit it to Mayor Moore.
All factory und mill owners in Phila.
delphia have been warned to overhaul
New York Metal Market
New York, Jan 22. Copper Spot and
January, offered, 10c: February and March,
offered. 10'ic. Market easy. Lead Spot,
January and February, h'i is' i Market
tiulet. .Srlter, East St. Louis All months
WHISKY AS "FLU" CURE
Resolution In Congress Provides
Modification of Dry Law
Washington, Jan. 22. (Iy A. P.)
Representative Snbath, Democrat, of
Illinois, today introduced n resolution
declaring that whisky is needed as a
"cure for influenza, which is alarmingly
increasing," nnd proposing suspension
for ninety days of provisions of the na
tional prohibition law requiring special
permits and reports from druggists, doc
tors and others as to the use of liquor
for medical purposes.
Thp resolution declared its purpose
was "to the end that whisky may be
prescribed and obtained for medicinal
purposes without unnecessary hin
drances and delay."
Amendment of the national prohibi
tion law so as to permit the manu
facture nnd sale of beer, nlc and por
ter of H per rent alcoholic content, nnd
wtne of i per cent niconolic content was their buildings nnd see that the lire
iiruiHirru iu a uiii luiruuiiceii iy jir. laws are compiled witii in even tie
Sabath. tttll.
Cities Kcrvlcn Co., monthly cne-half ot 1
per cent on preferred and one-half of 1 per
ent on common, paable in cash, nnd month
ly IU per cent on common, payablo on com
mon at par. Tho monthly one-halt of I per
cnt on preference B shares was also de
clared All divide ids ore pavable Starch 1
to stock of record February 15.
Alaska Packers' Corporation, quarterly $2
nnd extra 20 per ennt in Liberty bonds and
2 In cash, payable ApMI 22.
13. F. Goodrich, an additional Vt per cent
on common which, with tho 1 per cent de
clared last October, makes a total of VA
Ktr cent, payable February 10 to stock
olders of record February K. Tho second
quarterly 1V per cent on common wan de
clarer nayaoio jiay j. io siocKnoiacrs oi
record May 5. A dividend of 3'A Per cent
wan declared on preferred, l per cent pay
ablo April 1 and 1" per cent pavable Juiv 1.
KelloKB Switchboard nnd Supply Co,
quarterly 2 per cent, payable January 31
tn stock nf record Jamrary 2ft.
BAN PLACED ON FREIGHT
Severe Storms Prevent Shipment
East of Buffalo
Now York. Jan. 22. A partial em
bargo on shipments of freight from the
West to points east of Buffalo was im
posed today by A. T. Hardin, regional
director of railroads, as the result of
severe snowstorms and cold weather
which have seriously hampered railroad
truffle in New York state during the
last week.
Only perishable freight, livestock, coal
nnd a few other essential commodities
nro being accepted from the West. The
embargo is not expected to last more
thuu a few days unless tho weather
again becomes severe.
No embargo has been placed on freight
bound west from New York, because
there is no large accumulation. Its
movement, nevertheless, is being seri
ously delayed.
BUTTER, EGGS AND CHEESE
New York. Jan. 22. BUTTER. StMdy
.Receipts. 7550 tubs. Creamery. hlher than
extras. tti'A Bc! extra (82 Vcore). 8IU O
(15c: nrsts, R0'4B4c; pucklnj- stock, cur
rent make. No. 2. 43c.
nOGS Firm. Receipts. 090S casesj Freih
eathered extras. 73W74e; do, extra first!
7172c; do, flrstB. ftomnc; utate. Penn'yl
vanla and nearby western hennery wwtei
first to extra. 78W83c: do, btowns. 75UJ7c'
do, irathered browns and mixed colon. 73
74c. f
CHUESE Uasy. Receipts, 682 boxea
flate, whole milk, flats, current make, il
clals. 3H4 S32c: do, nvernse run, SOU 031c
state, whole milk, twins, current make, tn
ciali, 3m32c; do, average run, 303Ir
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 1005&
Redemption (par) value at normal rate $19.2
Percentage of profit at par value and normal
exchange 175 Ji
In addition, if coupons arc withheld and not collected
until exchange returns to normal, another substantial
profit may be had through increased yield.
Further details on request
6.HSNDLER& Company
4MCOKPORATC9
Franklin Bank Building, Philadelphia
New York
New Haven
Iloston
Ilaltlmore
1812
THE
1920
PENNSYLVANIA COMPANY
for Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus - . $7,000,000
Member Federal Reserve System
517 Chestnut Street
Philadelphia
BROAD STBKKT OFFICE
Chestnut and Juniper Streets
UNITED STATES GOVERNMENT
LIBERTY LOAN SECURITIES
$50, $100, $500, $1000 Denominations
BOUGHT AND SOLD FOR CASH
FULL INFORMATION REGARDING TAX FEA
TURES OF ALL LIBERTY LOAN SECURITIES
WILL BE FURNISHED UPON REQUEST.
MONTGOMERY & CO.
NEW YORK
CHICAGO
133 S. 4TH ST.
PHILADELPHIA
TF.LF.P1IONF.8: Hell, Lombard 4330. Kwtone, Main 2
liovcrnmrnt Mecnrltlrs Department
r
LIBERTY BONDS
Bought, Sold and Quoted
Call, Phone or Write Liberty Bond U,"t"'
West & Co.
1417 CHESTNUT STREET
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