y-
';
''
Jl$titm mnmmm
r. i fi rpiw".
ffYfeHlHOf ' yVBIjiq - LEDaglPgitiADELPaiA, THURSDAY;
JA'NtTAffl: - 22, 1,920
i'H
Aperic an Candy Co.
7 Per Cent Cumulative Preferred
With Right to Buy Common
Increased
Candy Demand
Due to
Prohibition
Has Already"
Begun
Factory
Expansion
Now Under
Way
The actual arrival of Prohibition
has brought the expected increase in
the candy demand, and the Amer
ican Candy Company has already
begun the necessary expansion by
the purchase of the adjoining prop
erty for its next factory, unit.
American Candy Company stock
has found widespread recognition as
a prime investment both in the large
investment centers and at home,
- where considerable blocks of the
stock have been retained by close
interests of the Company.
Therefore, those wishing to make
initial investments in this stock or to
increase their present holdings
should do so without delay.
This 7 per cent cumulative pre
ferred issue offered at $100 par car
ries with it the right to buy five shares
of common, of no par value, at $7.50
per share with each share of pre
ferred. And, inasmuch as the earnings on
the common this year will be around 25
per cent after all tax deductions, F. A.
Brewer & Company recommend American
Candy as an investment of exceptional in
terest. Orders should be mailed immediately,
or preferably wired,
F. A, BREWER & CO.
Specialists in Candy and Sugar Issues
208 South La Salle Street . Chicago
NEW YORK BOND SALES
Snrmnnrr of Individual Transactions on New York Uxclian;
Am S & ltof Co 5s
1000 .
1000 .
fiOOO .
Am Tel
2000 .
1000 .
2000 .
sooo
84
. 84"i
Tel 6
, AS1).
tuM
834
Am Tel & Tel Co 03
1000
2000
1000
(SOOO
3000
00
00
osV,
00
00
Anglo-French 13 5a
2000 ...-. 00 1
2000 .... 1)0 1
10000 .... 00 1
noooo .... on
100000 .... 00 i
,1000 .... 00 1
2000 .... 00
.000 00
1000 .... 00
2000 .... DO 1
18000 .... 00
.17000 .... 00
3S000 .... 00
BOOO .... 0G
13000 .... orV
2000 .... 0." V
2000 .... oo
2000 .... U3T4
20000 .... 05 15
10000 .... OS 15
12000 .... 03
20000 .... 05 15
127000 .... 05 15
B000 .... 00
Argentine Repub Da
1000 .... 71
Armour & Co 4 tin
3000 .... 83
5000 .... 83
Atch T & S Vo adj
looo .... 10
tooo .... 71
AT&SK cv 49 60
An Endorser For
Every 1920 Debtor
That is what the American's Unlimited
Policy of Credit Insurance becomes when
applied to your business. Think of the
worry saved, the credit losses prevented, the
profits protected. Such a broad service will
start your New Year right.
You can buy the American's Credit In
surance Policy on an absolutely economic
basis. If you are a manufacturer or whole
saler, we will guarantee to prevent, else pay,
your bad debt losses beyond the normal loss
inherent in your business, whatever the ag
gregate amount of such covered losses.
An inquiry will bring you interesting and
valuable statistics without any obligation
upon your part. Let us hear from you.
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E. M. TREAT, president
W. J. Morphy, Manager J. F. McFadden, Gen. Agt.
Mutual Life of N. Y. Bid?.
Phone Filbert 5S03
Philadelphia, Pa.
10000 .... 88
0000 .... 88
5000 .... Xh
1000 .... 87
Atch T & S Vo 4s
10000 .... 78
5000 .... 78
4000 .... 78
1000 .... 18
1 2000 .... 78
2000 .... 7H4
5000 .... 18
1 Atlnn Coast Line 4s
4000 .... 70
J 1000 .... 70
1000 .... 70
Allan Coast Llna clt
looo .... 09
Bait & O P Ij 12 &
West Vlr sys 4s
1000 .... 50
B & O So "West 3 k
1000 .... 12
13000 .... 12
B.il & Ohio Tol 4s
1000 .... 50
Baltl & Ohio nn cv
2000 .... o
1000 80
3000 .... 00
2000 .... 00
1000 .... 00
1000 .... 00
2000 .... 0
1000 .... 00
1000 .... 00
e 2000 .... 00
Baltimore & O 3V4
5000 .... 81
Baltimore & Ohio 4s
1000 .... 04
2000 .... 05
1000 .... 4
Baltl & Ohio RR Bs
2000 .... 04
5000 .... 04
1000 .... 03
I Baltl & Ohio ItR 6s
I 10000 .... 84
21000 .... 84
10000 .... 81
10000 .... 84
innn fill.
1000
1000
23000
1000
1000
1000
10000
10000
0000
1000
10000
84
83
84
84
84
84
84
84
84
84
Chi 11
1000
2000
1000
5000
I &
Pno fd
1)0
"o
00
00
Chi St V M & O Ss
1000 .... 85
Cht & W Ind It 4a
2000 .... 60
4000 .... 58
Chllo Copper Co 6s
1000 .... 82
1000 .... 82
1000 . T. . 82
1000 .... 82
0000 .... 81
1000 .... 82
Chile Copper Co 7a
10000 .,..10(1
Chi Ovt Hu Ku 6a
looo .... so
City of Bordcuux 6s
15000 .... 02
5000 .... 1)2
City of Lyons 6s
21000 .... 02
City of Marselles 6s
10000 .... 02
Cof .V Y 4V4s of 04
0000 .... 01
C of MY 4'.4s of 67
1000 ....100
City of Paris II 6s
1000 .... 02
1000 .... 02
4000 .... 02
2000 .... 02
City of Toklu It 5a
1000 .... 50
C C C & St 1. SI 4s
5000 .... 05
UCUHtL gin 4s
1000 .... 03
2000 .... 03
Colo Fuel & Iron 5s
1000 ... 85
Colorado Ind Co Es
6000 .... 73
Colo& So Rwy'4V4s
3000 .... 72
Del & Hud Canal cv
1000 .... 84
2000 .... 84
Den & Ro Grand 4s
2000 .... 04
Do of C Bs of '21
12000 . ,.. 08
Donv of Can of 26
1000 .... 04
Dom of Canada 29
4000 .... 07
1000 .... 08
1000 .... 07
Dom of Canada 31
2000 .... 01
5000 .... 01
1000 .... 02
looo .... 01
10000 .... 02
13 Third ext
3000 .... 02
Erie Rail Road 4s
48000 .... 53
Erie Rail Rd Cv A
1000 30
Erie Rail Rd cv D
1000 .... 30
General lflectrlc 5s
1000 .... 00
Hudson & Man fd
2000 .... 60
2000 .... 58
8000 .... 38
Hudson & Man In
5000 .... 18
10000 .... 10
111 Central 4s of '52
5000 72
1000 72
Illinois Central 5
4000 .... 02
1000 02
Illinois Steel Co 4
3000 .... 82
Imp Jap Govt 1st
2000 .,
2000 .,
2000 .
1000 .
10000 .
1000 .
5000 .
1000 .
Imp Jap
10000 .
' 7000 .
1000 .
3000 .
9000 .
2000 .
2000 .
8000
Commercial Finance Company
1216-17-18 Liberty Building
N. E. Cor. Broad and Chestnut Streets
Incorporated, 1915, under the laws of Pennsylvania
Lends Money on Assignment of Approved
Accounts Receivable
Dividends regularly paid since organization.
7 Preferred Stock For Sale
At Par, $10, and Accrued Dividend
OFFIOKRS
Wcpster King Wctherlll, Pres. Walter C. Harris, Vice Pros.
Charles A. Schwenk, Secretary and Treasurer
DIRUCTOUS
Webster King Wctherlll
Charles S, Wesley
Morris Booth Miller.
Walter C. Harris
John J. Hoffecker
Charles K. DaCosta
ltota Hall Skillcrn
DO YOU KNOW ABOUT
CREDIT INSURANCE?
UNLESS you conduct yourbus
iness on a cash-in-advance
basis, you need credit insurance.
It is even more vital to you than fire insur
ance. Bad accounts arc more frequent than
fires and anuncollectable account is as much
a loss as if the goods were utterly destroyed.
No amount of precaution on your tiart can
absolutely prevent credit losses, but the "Lon
don" can and does pay them and "loss" in
this connection, is construed to mean any
account covered under the Policy that the
debtor does not pay at maturity, if you comply
. with the terms of your policy.
It won't obligate you to ask for particulars.
OUR SUPER-SEIWICE
AT YOUR
SERVICE
.-...
tstaWished eb Eighteen sixty-nine
LONDON GUARANTEE AND
ACCIDENT COMPANY LTD.
R. A. IRVING, General Agent
flwne Lombard 401fi 81S LsFayette Did.
I'HlLAUtU'HlA, I'A
HUrtimnMim.M"mu' I.rtrt .mu
un
Beth Steel Corp 1st
- 5000 07
Beth Steel Es of 36
looo .... 85
. I Brnden Copper M 6s
1000 .... 01
10000 .... 91
Brook Rap Trans 4s
2000... 28
Brook Rap Tr ct 7s
10000 .... 45V&
Bush Terminal 6s
5000 80V4
Cent Leather Co 5s
5000 .... 03
12000 95V4
1000 .... 00
Cent of Georgia en
1000 854
Cent of Georgia 6s
1000 .... 02
4000 .... 02
1000 .... 02
3000 .... 92
Central Paclflo 1st
2000 .... 74
1000 71
Ccn R R of N J 5b
registered
2000 .... 00
Ches & Ohio 4s
1000 .... 75
1000 .... 74
Chebapeak & O Es
1000 .... 03
Ches & Ohio cv 4
1000 .... 75
3000 .... 75
4000 .... 75
dies & Ohio cv 5s
3000 .... 78
1000 78
1000 .... 78
10000 .... 78
11000 .... 78
4000 .... 78
10000 .... B8'H
Chi & Alton 3a
3000 .... 30
1000 .... 31
Chi B & Quiney gro
5000 .... 80
Chi B & Quiney 4s
looo .... 05
2000 .... 05
3000 .... 03
5000 .... 95
2000 .... 05
10000 . . 05
Chi B & Qulnry Es
3000 .... 85
Chi - Erie RR 1st
looo .... 81
Chi & Grt West 4a
2000 .... 54
5000 .... 51
C SI & St P cm 4
3000 .... 70
1000 .... 70
a M & St P fd 4Vis
12000 .... 58
1000 .... 38
1000 .... 38
1001) .... 38
C M & St Paul I 4s
2000 .... 00
5000 .... !)
Chi M & St V 3 '4s
1000 .... u
Chi M &. St Paul 4s
SOOO .... 08
Chi M & St P cp 5s
5000 .... 07
1000 .... 97
ChlM &StPcv4
.. 75
.. 75
.. 75
.. 75
.. 75
. . 75
.. 75
.. 75
Govt 2nd
... 73
. .. 73
...74
...74
... 74
...74
... 73
... 73
Imper Jap Govt 4s
N T Chi & St Ij 4s
1000 .... 80
N V C & St 1, D II
1000 . ... 08
N Y Oub Heat &
Hire li & P Co 4s
1000 .... 03
N Y Gas & Klco Ij
II & Power Co 5s
2000 .... 85
N Y Ont & west 4s
4000 .... 00
3000 .... 00
N llwyg ft Is
2000 .... 28
2000 .... 28
Ntw York Rwjs Bs
2000 .... 7
C Y Telephotm 4 Via
3Q00 .... 80
1000 .... 80
1000 .... 80'
3000 . .'.. 80
N Y Telephones 6
3000
.1000 . .
4000 ..
2000 ..
1000 ..
1000 ..
N Y V. C
1000
on
. . on
. . on
. . no
. . 9(1
. . 05
& U 4 Via
30
Norf & Western 4 s
5000
3000
3000
3000
1000
3000
4000
70
70
70
"70
70
70
70
3000 .... 37
2000 .... 57
3000 .... 37
St I. & San Fran B
3000
13000
2000
3000
2000
50l)0
St li I
8000
12000
1000
M &
08
08
08
08
08
08
S R Es
00
00
88
St 1.A t West en
1000 .... 51
Texas Company 6s
13000 ,...103
Tex He Pac Ry 1st
1000 .... 84
10000 fT.. 84
Third Avo Rwy adi
500 30
1000 .... 30
1000 .... 29
Third Avo Rwy 4s
7000 .... 40
TSt t, & West R 4s
3000 .... 40
U K of Q II & I 21
4000
10000
10000
2000
1000
1000
C M &
3000
60
. ... 08
.... 09
. . . . 68
. . . . 00
&t P CV E
.... 0714
Chi a N W D of 33
1000 .... 00
Chi & Nthwest Bui
1000 .... 78
2000
10000
1000
sooo
1000
40000
10000
00
no
60
60
60
59
30
Inter Mer Marino 6s
2000 .... 93
Inter Met Co ct 4
10000 .... 18
Inter Metro Co 4
6000 .... 18
5000 .... 18
1000 18
Inter Rap Trans fd
noon
9000
3000
5000
1000
10000
1000
3000
52
52
02
52
51
51
52
51
K C Ft S & M Ry 6a
2000 .... 90
3000 .... 09
Kansas City So 3s
3000 .... 57
Kan City South 4s
2000 .... 30
Kanbas City So 5
1000 .... 73
1000 .... 78
Kent Cent R R 4s
1000 .... 73
L & M So 4s "21
1000 .... 82 Ifc
LSftMS 4s of 28
1000 .... 85
L, S & M S 4s of 31
2000 .... 85
Lehigh Val Coal 5s
2000 .... 08
Lehlsh Val R Co 6s
1000 ....100
Long Island RR fd
1000 .... 69
1000 .... 68
Loots & Nash &1 3a
2000 .... 51
Louis & Nashvlle 4s
6000 .... 81
Mid Steel & O Es
2000 .... 83
4000 .... 83
SOOO .... 83
8000 .... 83
Mln & St L It en Es
1000 .... 74
Mo Kan & Texas 2d
2000 .... 30
Missouri K & T 4s
2000 .... 59
Missouri Pac gm 4s
3000 .... 57
1000 .... 57
1000 .... 37
Missouri P Es of 65
'1000 .... 83
1000 .... 83
Mobllo & O Now r,s
2000 ....101
Mont Cent RR 5s
1000 .... 04
N O Tex & Mex 4s
1000 .... 04
N YC&1I RR3W
1000 .... 07
1000 .... 00
3000 .... 00
N YC&II RR 4H
1000 .... 00
N Y C & II R R 6a
2000 .... 02
1000 . . . 92
2000 .... 93
7000 .... 92
N V Cent L S 3J
leglstered
.1000 .... 60
3000 .... 60
N Y C & M C 3b
1000 .-.. 00
Norf & West cv 6s
13000 ....103
0000 .... 103
7000 ....103
10000 ....103
Norfolk & W Poca
Coal Co 4 s
3000 .... 70
Northern Paclflo 4s
1000 .... 70
2000 .... 70
No S Power Co 5s
2000 .... 84
Oregon Short L 4s
5000 .... 83
Pac Gas & E Co Bs
1000 .... 82
Pan AmPetm & T
Compa'ny 4s
4000 .... 70
Pctina RR 3s '41
1000 .... 71
Penna RR 3s '42
2000 .... 7.1
Pcnna Hit 4s '21
1000 07
Penna R R en 4s
4000 .... 01
6000 .... 01
Penna RR gm 4 Vis
3000 82
2000 .... 82
2000 .... 82
Pennsylvania RR Bs
liooo .... 00
10000 .... 00
4000 .... 90
11000 .... 00
8000 .... 00
Peo G L & C Co 5s
3000 .... 04
Pere Marquette 4s
1000 71
Pero Marquette 5s
1000 .... 80
2000 86
P S & L Erie cv 22
5000 87
4000 .... 87
Pub Ser C - N J Ba
'1000 .... 65
Reading R R Co 4s
1000 79
Rk I Ark & L 4s
1000 02
4000 .... 62
Seaboard Air L
2000 .... 47
Seaboard Air L
7000 38
3000 .... 38
1000 .... 38
Southern Paclflo fd
20000 .... 77
7000 77
1000 77
Southern Pacific 4s
1000 .... 70
South Paclflo cv 4s
5000 .... 80
South Paclflo cv 5s
15000 ....102
10000 103
South Jlwys SI 4s
1000 07
South Railways 4s
2000 59
18000 59
SOOO .... 59
Southern Rwys 5s
1000 . s. . 83
1000 83
S R M & O eert 4s
1000 .... 67
St L & San Fran In
2000 .... 42
2000 .... 42
2J100 .... 42
1000 .... 42
2000 .... 13
St L & San Fran a
3000 61
1000 .... 61
2000 ... 61
1000 .... 61
10000 .... 61
1000 .... 61
St L & San Fran A
7000
2000
13000
looo
2000
4000
20000
25000
2000
2000
1000
3000
2000
05
95
95
95
94
95
95
05
05
05
95
95
94
95
Untd K of a B & I
rets of '22
fd
aj
3000
6000
4000
4000
3000
5000
00000
94
04
94
04
04
94
04
ELK BASIN LEADS
BOIL GROUP
Outside Market Irregular
Tone and Movement All
Through Day
in
MONTGOMERY-WARD STEADY
Untd K of G B & I
rets of 29
94
94
94
94
94
94
94
94
94
94
94
& I 37
.... 89
89
89
80
.... 89
89
89
.... 89
89
89
80
80
89
Pac R R CV
80
Paclflo M
77
Pacific R 4s
83
84
Union Pacific R 6s
25000 ....102
Untd Rly Invest Co.
of Santa Fo 6s
2000 .... 72
5000 .... 74
U S Real & Imp Bs
2000
1000 ....
2000 ....
2000
1000 ....
2000 ....
10000 ....
3000 ....
1000 ....
1000 ....
4000 ....
4000 ....
U K of G B
10000 ....
7000 ....
2000 ....
1000 ....
4000 ....
20000 ....
1000 ....
1000 ....
2000 ....
2000 ....
6000 ....
1000 ....
21000 ....
Union
2000
Union
3000
Union
4000
5000
New York, ,Tnn. S2. Tlio curb mnr
kct v.ns irregular in both tone mm
movement all through the day, witii
some of the petroleum i8Silcsihowiug n
stronger tone.
Klk Uniu was one of the most active
features in that group. iKlvnucluR to
0. General Asphalt yielded from 114
to' 111, followed by n rnlly to 1M.
SimniH sold ofT from B4VI to fiH'h, and
White Oil. after nelllug nt 8y, reaeted
to 38 Vi. (Slllllnnd wns in good demand
with Kales nt -11) to r0. International
Petroleum was weak, selling at 0!)'i
to OS.
Hritlxh-Amerioau Tobacco dropped
fiom 111 to 18 nnd the rights fold
down to (1. Submarine Boat was
steady nt 15 to 15. Montgomcry
Wmd was steady, with sales atfUS
to 3f).
Car lb Syndicate sold nt 42 to 41.
INDUHTRIALH
HItrh
Am J'areonl n
Jlrlt Amer Tobacco couo. 106
Columbia TJmerald 17
Colonial Tiro 84
Clcneral Axphnlt IH'A
Gen Motors 32
Hupp Motors 16
Iike Torpedo U ........ 3
Lincoln Motors 51
Mont Ward 31)
Nor Am Paper 4S
Perfection Tiro i... 4U
Itadlo Co .' 2l
ltpTObiic Tlie Rub r
Submarine Itoat 15
Jrianglo l'llm
II S I. & H 3
U H Hleim
United net Candy 17
united I'ront wnarlnK... -t
United Plot I rod IT
Wajno Coal 4
lNDi:i'KNDENT OILS
Allen 14 14
Alliance 18H 10.,
Allied on ( "4
Amal noialtr
Associated uu 2
Hell Petroleum ......... lit.
lloone Oil n
Jloaton vomlnir l'.fc
Ilurknett Van Cleave ... 2vi
Carlo Syn 41J4
4000
10000
7000
1000O
2000
2000
80
80
80
80
80
70
79
U S Rubber Co 6s
3000 .... 80
1000 .... 87
10000 80
3000 .... 87
1000 .... 80
6000 .... 87
1000 ..87
2000 v87
U S Rubber Co 7s
5000 ....102
U S S M & R Co 6s
5000 ....103
1000 ....103
U S Steel Corpn 5s
Low
t,A
10H
17
8i
111 Vi
31
mt;
3
WiVi
38
s
5
32'A
ih
1?
Last
r.s.
ll
17
"i
113
31
15
3
51
3H'4
2V4
13i
32W
1
10V4
2S
17
4;
14
lUMi
n
a.
"H" ctfs .. 42
11
roleum .... 9
Mfr
3000
5000
3000
2000
1000
1000
1000
SOOO
1000
37
37
58
58
57
57
57
37
57
1000
3000
1000
3000
10110
16000
09
99
98
98
98
98
Vlr Car & Chem 1st
2000 .... 95
VIrelna Rlways Es
looo .... 81
3000 .... 84
7000 84
Wabash R R Co 1st
3000 .... 89
3000 .... 89
West Maryland 4s
5000 50
W N Y & P RR 4s
3000 .... 03
West Pacific RR 1st
5000 .... 83
West Shore R R Is
3000 .... 73
Wilson Company ov
Cltlea Service
cosden fi: Ln
Klk Uisln Petroleum
Dominion
l.Hniernlda Oil
Federal OH 3tt
nilllland 50
Olenrock Oil v 34
Cuffey Gillespie 34H
Homo Oil 54
Inter Petroleum ROW
Island Oil .-
l.lvlng&ton Iff
Magma R
Ilerrltt OH 21JI
Metropolitan Petroleum . . 4,s
Mexlcen Pan . 1 ,.. 18
Midwest KeflnlnRT 1U
Ohio Jlancer 14
lennokOII W
mumps l'etroleum a'?
Producer &. Heflners 9V
Ilyan Oil 4
Hipulpa Refining 0S
MJ.ellv OH 114
it Trims Petrrluni 54V4
,Hincer I'etroieum io-
Stanton Oil
Tropical Oil 21.,
Victoria Oil new ...... 2W
White Oil 38
Woodburn Olt 7Va
MINING
A'las-nrlt Gold 1
Arizona silver . . .
Atlanta
Helcher Divide . . .
do V.xt
Hip I.edgo
rsooth
Caled Mln
Calumet & .lerome
CandeUrla M
Cons Virginia ...
Cona Cop M
Oresson Gold . . .
DMde nxt
Ill Sahador
l'nriln Crnpatts . .
4l Mining tjf
Golden Gate Exp 1H
Gold Cons 14
Gold Keuana 3
Gold Merger 33
Gold HUer Pick 3H
Cold Zone 33,,
Ilccla Mining 4'
Jumbo Kxtenulon
Knox DIUde. 0
I,oulsUna Co
MoNamara
Marsh Mln --
Motherlode 5
Nntlonal Tin 13
Nevada Ophlr 3
Onondago -6
Rex Cons
Rochester Mines 18
Rope Oroup 13
Mlver Kinsf or Ariz ....
S Silver I-eail '
Success Mln 6
Tonopah Ilelmont 3
Tonopah CnUi Doy 8
Tono Divide 3
Tonopah Ext 2V5
Tono-JIm H 23
Tonopah Midway 1R
Tonopah Mln 2ft
Tonopah Montnna 12
Tonopah Rescue Hula .... 2H
United Eastern
Victory 17
West End C 2r
White Caps 11
White Capb Hxt 2
"IVIlhor, 7
Yukon Gold 1
-1
i
40'4
4214
II
II
234
4
3V4
40
!!
41
42
I)
24
a'4
DO
.'
18
34
V
38
It
1 '
3J4 34
33'. 33
.'V4 r.Vi
8 0
.-m .V4
8 SVb
21 21i
3T4 4
18 18
104 II!.-,
1W 1.
814 V
83 85
4 4
(1 US
11 UVi
534 54
18VS lS'i
20'J 20H
A , 2
3Rli 38Vi
714 74
at! k
2',a 2',
IN 18 .
33 33'
14 H
5'4 r.
38 38 ,
4 'i
H
74 7
$ 2I4
3l4 ili
l'i 1
IS H
l'i 1H
11 14
3 3
33 33
3 3V4
33 33
4'4 4Vi
7 7
r- "-
"4
1000
2000
Wilson
2000
4000
100t
05
95
Comp firsts
. . . . 98
.... 97
.... 97
21
51
ir.
31
2
It
18
i
n
.TO
?
3
24
50
13
3".
2'i
11
lh
li
3
S
3
2Vi
lA 18
28 2S
4 I
15 17
Murray Mog 70
IIONDS
Allied Packers fts
ATT lis. 1022. .
Ilelglan lis, 1021.
Felglan fls. 1025.
Russian 5'4s
Russian HHfl . .
Swedish Got 0s
R3H
Ort's
nn'4
novl
32
32
90V4
11
l'i
70
81
1)11'.
ns'.
JM!
32
90' 1
83
!4
nn
!!H
32
IlO'i
HlEli
Mi
OS
I..OW
1)8.88
Lib Ronds ."His.
.Lib Ronds Ht 4s.. Dli.OO. 1)2.00
Lib Ronds 2d -Is.. DO.Mt 1)0.70
Lib Ronds 1st -t'is )2.S(I II2.1S0
Lib Howls 2d y8 IM.JSO ill. la
Lib Ronds :Jd -lVis O.S.r.li 0:!.2()
Lib Ronds 4th -lVt 01.44 '1)1.28
Victory Notes Hs 08.50 08.42
Victory Notes 4-Vs 0S.51 08.44
2.30
p ni
0S.00
02.00
00.70
02.00
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08.50
0S.41
BUSINESS NOTES
The shou rooms of the garment manu
facturers were the bcene yesterday of
biiyins that is .still of the careful sort.
In the cautious operations of the visit
ing retailers, the more representative
wholesalers are getting n little more
than their usual share of business. The
reason given for this is thut in Mich
unsettled time.s bujers feel more as
surance in dealing with responsible
firms.
The slowness of trading in the gray
goods market this week, coupled with
the sharp break in cotton, brought out
quite n few second linud fubrics yes
terday at concessions. In fact, much
of the limited trading that was done
was in goods from that source. In
cluded in the business put through were
spot Eartcru 3S'j-ineh 04-li0s from
first hands at 24e and .Iauuary-l;'eb-ruary
deliveries of the t-amo construc
tion from second hands at SH'jc.
In the opinion of a women's wear
manufacturer, the high prices forced
on the public are having ono effect It
may take the retailers some time to
overcome. He explained that outside
of tho few people with plenty of money
to bpend, tho merchants are training
up an immenso army of bargain
hunters, who refuso to spend money
except when thero- is a sole. He be
lieves that many retailers uro blinded
by the money vuluo of their business
volume, forgettlug that sales uro fewer
Once the period of extravagance is
over, he said, such stores will find
themselveH handicapped by tho economics
they have now taught so many people
to practice.
LIVESTOCK QUOTATIONS
flilcago, Jan 22 HOGS Receipts, 40
Ofil) head Higher nulk. il. 336 13 115 top
15 7.1. heavy. J15.15M15.1S0, medium
115 35013.70. light. Jt5 40 ft' 15.75. light
lights $14 75Siil3.no; heavy packing tows,
smooth $14 50115: packing sows, rough.
14l14 30, pigs. 13 7514 75
CATTLi: Receipts, 12,000 head 1'lrm
Reef steers, medium and hea, choice and
urlme 15 50W18 50; medium and good.
911 rt. S 111 50. common, 10 3011(1'.. light
weight good and fhnlce J13 21ft 17 25 com
mon and medium $013 25. butcher cattle
heifers. ll 75SI 14 25. cos. 10 73(8 13 tan
ners anil cutters. $3 75(58 73 eal cales,
M7 50(3 10. teerier steers, 8ff 12 50. stocker
steers. 7 5011
HlinnP Receipts. 10,000 firm Limbs
J18W20 25. culls and common. $14 75ft
17 50 eweR medium and good, $0 7312 25
culls and common. JBKW 'J5,
Pittsburgh. Jan. 22 HOGS Receipts.
30.no head Higher. Heales. $15 50W15 no
keay orkern and light yorkers, linlfl.25,
plgM $13 75 (Mil
SIIKEP AND L.AMI1S Receipts. 500 head.
Top sheep. $13.30; top lambs, $21
CAhVKS Receipts, 125 head. Steady.
Top, $22.
Knst llillTiilo, N. Y Jan. 22 CATTLE
Receipts. L'25 head. Slow Cales, re
ceipts 300 head Steady, $H23 30
HOGS Receipts 40(10 head 10c to 23c
higher, heavy. $15 liOSflll 10, mixed. Jiniw
HI 25. orkers, $18 l.MMii 25 light do. $1(1 10
Will 23 rigs, $15 251H25, roughs, JM
14 25. stage. J1012.
SltniH' AND LAMna Receipts, 1100
head Lajnbs. 25c higher lmb. $114?
2125. eaillngs. $10dtl8, wethers, SI3i814;
ewes, $412. mixed sheep, $12 50SJ 13
llasl St. T.ouls. Jan 22 HOOK Receipt.
17.000 head Higher Bulk $15 AfliM.t 73.
hcn. $15.60(915 75. medium, $15 50
15 75 light, SIS 308M5 80. light lights $15
di 15 70, heavy parking sows, smooth, $13 75
W14 03; packing sows, rough, S12 73t?13 75.
plwa. $Ulffl5 50.
CATTLE Receipts, 3500 head Strong
Heef steers medium and heavy, choice and
prime S10SM7, medium and good $1
15 75 common $010.75, light, good and
iholce $13M(1 50; common and medium,
$8912 75. butcher ctttle, heifers $7 25W
1150. canners and cutters, $3 2307, oal
calves, light and handy weight $13M8
feeder steerB, $8 5012, blocker steers, $7'
10 50
,SMEiEr35''c",i!B' 1B0 stronc mbs
S1H23VF20 25; culls and common J12WK1
5 earllng wethers SISSJlS 33. ewes medium
Snt!,5:-ho,cc 'S.50012,. culls and common.
S4 75VJ 8
.,.Kl,n.'"1" ,flty. Jan 22 HOC.S Receipts.
20OO head Steady. Hulk. SKI 23015 43
hr",le"'. $15.23M5 50; medium, $15 21 til
1,1 (10 lights, $15615 30. packing sows, $14
W14 75 pigs. $13 7513 75 ' "'
CATTLE Receipts. 5700 head. 3i;ad
l'V,.Xbeef 'rs. choice and Prime. Tin 00
17 00; medium and good. $12 40010 40
common 11(1 iiofi is 40. light, good and
t5.!S,,yjn,",?,".7B eommon and medium,
$R2.i12 30; butcher cattle, heifers $7f
14 cows, $8 75612 40 canners und cutters
Sdjn 75. veal caHcs, $14Wlrt,".0 feeder
steers. $8.23013.50. stocker steers, $0.50'
SlinEP Receipts. 7000 head Steady
!,.B.m.,?i.Al!!.ftsw,7:l culls j.nd cn.ni
$10 25(Mt1.35: vearllne wethers. $14 "5(f
!?r!;L,:w.," 5 75W11.751 culls and common.
$4 505ii; breedliiK ewes, $SW14.oOj fetS
r lunb lll.50O17.7B, ! l"a
"Foreign Trade Through Foreign Investments"
i-.
Progress of the
Reconstructioiji of France
As a result of the recent elections in France the whole world was impressed
with the rebuff given to the radicals and by those seeking to destroy a
conservative form of government. The elections demonstrated that
France does not wish to try any experiments and will continue to develop
its financial and industrial life along lines that have proved sound.
Recently the French people subscribed to a 5 Credit National amount
ing to 4,000,000,000 francs, a sum equal to four-fifths of the total indem
nity paid to Germany in 1871.
Neyer has the ability of the French people to "come back" been more in
evidence than since the armistice was signed. The traditional thrift and
industriousness of the French family are in greater evidence than
ever. The new France has emerged from the war more determined
than ever to establish French credit on a firm basis and rehabilitate her
industries. The following facts speak for themselves:
Deitrojred RepiireJ
November, 1918 September, 1919
Northern Railways:
Double track 364 Miles 99
Single track 336 Miles 100
Eastern Railways:
Double track r 581 Miles 90
Single track 127 Miles 80
Bridges and Tunnels 1,160 55
"" Invaded during Municipal Admlniilratioa
the war returned September, 1919
Communities 4,023 95
Devastated Ready for Cultivation
Tillable Lands 6,950 miles 25
Partially or entirely Repaired or nnder Con-
destroyed ttrnction Sept. 1
Houses 550,000 30
Destroyed Productive on September 1
Factories 1,986 55
One of the most important problems to be solved is the question of French
exchange. The best way to improve French exchange is by a more even
balance of trade. French exports must increase. Exports consist not
only of commodities but securities as well. Therefore if Americans buy
French Government bonds they will take one of the most logical means
of improving exchange rates.
Due entirely to exchange rates we are able to quote the following figures:
Present Approximate Value
Approximate at Normal Possible
Price ' Rate Profit,
5 French Victory Loan. . .$79 $170 $91 115
4 French Loan of 1917. .$64 $137 $73 114
The United States is in a better position than any other country
to take advantage of these prices as this country is the only one whose
currency will buy French francs on such unprecedented terms.
We will buy, sell or quote any of the internal loans of the French Govern
ment. We invite inquiries for further particulars and requests for the
literature we have prepared regarding the internal loans of the allied
governments.
A. B. Leach & Co., Inc.
Investment Securities
, 115 So. Fourth St., Philadelphia
New York
Minneapolis
Chicago
Baltimore
Boston
Pittsburgh
Buffalo
Cleveland
fiitfl wHf flfl '
fai 1 :; mm mi f
J&x&!J -- mm mk , '
' B'n ii 5 x
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,
Buy Liberty Bonds
on the
Instalment Plan
AT present mar-
ket prices, Lib
erty Bonds net the
investor 4 to 5,
and carry liberal
tax exemptions
This Company will purchase
Liberty Bonds for you and
allow you to pay for them
in monthly instalments
Commercial
Trust Company
City Hall Square West
Member Federal Reserve System
! .
l
i
Annual Mrfllnis
035 CKNTRAT. TRUST A?n SAVINGS
COMPANY. Market uml Fourth fl.
At the Annual mectlnc. h'M January 8tli,
1920. the following trtockhoMerB were elected
directors to gene tho rnsuln? year'
T Comly Hunter I'. I.elKhton Kramer
leorire II MoNeely l'rancis X Qulnn
Theodore V. Miller .T Howard Uhoads
lamea J Hallcwell Henry Hell
Teor?e W Roydhouse Isaac M Hlmonln
h"rank Schoble Ctias H Walton. Jr.
Henry Y. Mlchell Clement J. Craft
Frederick CI Helmbold
At a meetlna of the Hoard of Directors
held thl day the follow lnc officers were
nmnlmoualr ected:
T Comly Hunter President
Clement J Craft , Vice President
Ojorire H MeNeelv Vice President
Theodore K. Miller Vice President
Frederick a Helmbqld. . . ... .Treasurer
Charles K , bukena . . . . Secretary
Anson n. Evans,. . Title Trust Officer
Oeo. J. llanhauser.Asot. Title 4 Trust Offker
Iwls Van Court , Aast. Treasurer
CHAIUJJ8K, LUKKN3. Secretary.
January 10. 1?2. ,
UBERTY BONDS
All Issue
Bought and Sold
?60 ?100 $500 $1000
Graham, Parsons &Co.
435 Chestnut Street
Philadelphia
Phila. Kapltl Transit 5s, 1957
Savannah Gas Co. 5s, 1923
Peterhburtr Gas Co. 5s, 1931
Western N. Y. & Fa. Incomes
CHARLES FEARON& CO.
333 Cheatuut StrccJ
1617
1019
Fire
Association
OF PniEADELWHA
W. W. Cor. 4th & Walnut"
lias elven Ha pulley koldsra totti
Indemnity for mora than oac
hundrecl years and haa nTM
been so strong financially as mow.
Have you a policy In thla oM
and reliable Cumpanrt
CIIART13K PERPETUAL
Stockwcll, Wilson & IhM f;
Certified Public Accountant'
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