? 'vn ' i' i " M M j s M t,j iu i p R. W ia- 'JfiM I. S'J mmi tfJlStt h -. SJv.ft . $', V .ib.f ii ' f !.-n , r l r r r, Kmi ' i 1 1 : IPs mm llfiw fillip 1 I mm KM.M.'JSl ilSStUktid.. lJKrW4HK l' if mm, 'l;fliit mmm Mmt$Mm, jB& Ilf f ' Plii I R& till If, 111 vf ill" ' w. it' life if ill L a. Nat. Bank Warrants Bought Sold C. K. Garrison 308 Widencr Bldg. Bell Phone. Wat. 4108-4199 Keystone Phone, Race 2260 $25,000 South Carolina and Georgia R. R. Co. First Mortgage 5za Due May 1, 1929 Guaranteed Principal and Interest By the Southern Railway By Endorsement Price: Market To Net about 5.75 9o Biddle & Henry 104 SOUTH FIFTH ST. We Offer Subject to Sale $10,000 Pennsylvania Public Service 5s, 1962, at 83 $25,000 U. S. Public Service 6s, 1927, at 85 Pynchon & Co. Members New York Stock Exchange 111 Broadway, New York )r Edward B.Smith & Co ESTiBLIsniD 15B3 BANKERS" Sternberg JV'etc York and Philadelphia Stock Exchanges I 1411 Chestnut Street, Philadelphia 30 Pine Street, New York nnnHiiHNH fj-( AND l nmmmmmim Open an Account With the Day and Night Bank We are commercial, convenient and progressive, and cash checks, receive deposits and open accounts from 8.30 A. M. till midnight. Resources over $12,000,000. 'RANKLIN TRUST CO. Market trt Sid and Market Sis. IStll llelow West rhlla. omce Income Tax We take pleasure In announcing that forms 1040 and 1040 A have been distributed by the Internal Revenue Department "We will con. tlnue our rrnetlco as In the past and extend to all of our patron assistance In the preparation of their Income Tax returns. Our force has been augmented, and there will be two experts at the offices of this Company between the hours of ten and two each day to assist tho-e who desire to avail themselves of th s service The Land Title and Trust Co. Bronil nnd Chestnut riillmlflpliln. Pa. Important to Income Tax Payers Losses oil Inventor and rebates nf ron. mull JaWw. fr m tan bp "SjusteJ TAX REPORT CO Phone Woodland .035 J, Oionti 1160 M fcM , , EVENING PUBLIC LEDGER.paiLArJELPHIA, 'FBEPAY. JANTTABY 2 1920 ' jf"' ' W I' AMS OF FINANCIAL WORLDNEW YORK AND PHILADELPHIA STOCK QUOTATIONS CURIOUS INDIFFERENCE TO HIGHER REDISCOUNT RATE Stocks Do the Unexpected and Come Back Strong After Brief Opening Dip New York, Jan. 2. In the parlance jl uie Rircet. today's stock market did the unexpected. Contrary to general ex pectations and speculative predictions the further advance in discount rates by the Federal Reserve Ranks exerted only a moderately ndverse influence. I.ven in the highest banking circles it had been expected that the drastic action of the Reserve Bank officials would bring in a flood of long stock and cause general liquidation. There were declines ranging from fractious to over two points in the initial dealings, but there wa no liquidation. belling pressure originated and was confined within the four walls of the stock exchange, emanating wholly from the speculative element on the floor, or from the bear cliques acting in com bination for the last six weeks. While the advance in the discount charges was far more drastic than had been looked for. the behavior of the maikct suggested it had been already discounted. The Federal Rescue Board, as a prominent trader put it. "instead ot taking two bites at the eherrv. took the bull by the horns." Not only has a further advance in discount rates been looked for. but it was an open secret that the larger loaning institu tions for some time past had been mak ing strong efforts to impress upon nil borrowers the necessity of curtailing bank ci edits. In other words, the situation was rapidly approaching a juncture wheiein it was virtually imperative for the banks to get loanable funds in n more liquid condition. The banking com munity throughout the length and breadth of the land has been greatly nuauicappeu oy wnar. is popularly des ignated as "frozen credits." That is to say, in plain everyday English, with loans tied up with collateral that could be and should be cither wholly or par tially liquidated. In all events. Wall Street nnncared to find a certain degree of satisfaction in the fact that the further attempt of the Federal Reserve f'oard to force a contraction of the so-called "unessen tial loans" was not solely aimed at Wall Street and Wall Street's business. Be tween the lines it was read that the effort was more strongly directed against the commodity mntkets nnd other speculators in the necessaries of life. About the only direct effect of the higher discount rates was found in the heavy trading; in the Liberty and Vic tory bonds, mostly at concessions. Sev eral new low records were made by the war flotations, with the Liberty second 4flls dipping under JU for the first time. Coming back to the market proper, there were declines in the first few hiin utes ranging from fractions to over two points. The more extreme declines from 1 to "Vz points in General Motors, Tex as Co., Colorado Fuel nnd several of the minor specialties were ascribed to causes remote from money conditions. JLov leels established instead of cnusing outside selling, biought in buy ing orders on a large scale and the losses sustained nt the openiug were iecoered in the first fifteen minutes. Bears made another involuntary con tribution to the early rnlly. which was led by high-priced steels nnd oils. The easy rebound offered proof of the small supplv of popular issues nnd the ex tended position of the shorts. Prices re acted again with the approach of noon, pressure concentrating in the motor group, shippings and secondary steels. Crucible Steel nnd General Motors continued to represent the strong nnd weak features ot the list during the mid-session. A 5-point gain in Crucible was offset by n 7-point decline in mo tors. Elsewhere changes were mainly in the direction of improvement. General Motors nnd low price special ties were under further pressure in the last hour wlieu call money rose to S per cent, but high grade industrials hardened. NEW YORK STOCK EXCHANGE TRANSACTIONS Dlv, ln$ Sales ISO floo 100 too 1000 loot 100 1200 3300 100 400 800 1700 000 100 3500 200 12W SOP 200JJ 100 1200 300 100 200 1100 700 100 100 1500 0700 400 3000 800 230 100 700 too 1000 100 100 2050D 3.50 Baldwin Iiocomotlve G (I n 10 ADVANCE IN BANK i 3 RATE DISCOUNT 5SS t It , fiO Cn Tr N.T -10 " 40 40 . . 4.15 111 Stor..l30 1TO I.'IO .. Bear Drives Failed to Dislodge! Stocks and Traders Turned Buyers DEALINGS VERY NARROW I'lilladelphH lndlHnaiMIN JVnniiylvaiiU riettrlc fampanr , nrlhern Trxtlnn 6, Wll.ll.r l'.l X f.,L- J-" " ' 1032 1U3. 1IM. .,vu,-i v.",, a m.f i otnpany ns ini JMinitonrii Tnrllon (nmpany Ut x.' ioJ; Samuel K. Phillips & Co. " Members rhll irtrlphlii .tok Kicliancr 807 CIIKNTM T ST Cons. Cities Tr. St. & Pr.5s, 1962 American Pr. & Lt. 6s, 2016 Lehigh Val. Transit 6s, 1923 U.S. Public Service 6s, 1927 MgCawat&CoL ImiiiI SlOl Land TitU Bldg. luce 414 Tu,9 T.TnnJ T?f Ac into 'jft.SWB Co. Deb. Gs, 1929 Mila- & Rendlnp; Cons, is, 1937 ", ' ChocUvt. OWa. & Gulf Cons. 5s. 1952 - Stock sales today on the New York Exchange, as compile by the, Evening Sun. totaled 553,300 shares. New Yorak. Jan 23. The New York Evening Sun's closing financial review today says : The stock market today received with more or less indifference the overnight announcement of a drastic increase in rediscount rates. For those who had made extensive commitments on the short side in anticipation o a declining market as a result of the news, today's stock exchange session was a keen dis appointment. , For a week or more Wall street nnd business generally had been prepared for an advance in Federal Reserve re discount rates: the only uncertainty was in respect to the extent of the advance. Had the action of the Federal Re serve authorities come unexpectedly, to dav's market might have been quite a different affair. As it happened, the market showed pretty plainly that it was in a strong technical position ami that during the week there has been a gradual extension of the short inter est in preparation for the Federal Re serve bank action. Stocks opened virtually unchanged this morning, with trading slow and cautious. During the forenoon beat drives were launched against individual stocks, particularly the motor and tire issues. These were successful to the extent of forcing quotations down 2 to .1 points or so. but nothing like general weakness developed. The futility ot bear hammering be coming appaient. traders turned to the bujing side and in the early afternoon the list recovered a good portion of its early losses. Beyond this, however, there was no particular demand for stocks Buyers refused to reach up for stocks, except in those issues in which the short interest was heavy. The advance m the discount rate on Liberty Bonds from 434, to 5i per cent was responsible foi declining quotations for these issues, several of which touched new lows. The second 4'is went below 01, the lowest quotation ever made by the piesent war issues. The turnover in stocks was somewhat above the recent average but the market gave no indications of moving out of the narrow trading area in wlibU it has been holding. Sentiment was extremely mixed, with bearishness predominating in profes sional cncles, principally because of the determination of bankers to choke speculation and turn funds into chan nels which will promote legitimate coin meicial expansion The big lending institutions have no lo 1 C N A. ?A :;i 515 Lk S Cor 20 3& QVs 40 I.ans M. 84a; S4 ISO Leh Nav. 34 XVA .TTEeh Val. 41. 41 15 Nat Bank war ... PA .14 5 North Pa Sl'i SVA 10 Penn Cen Eight.. 43 43 3G2 Pa K H. 42 42 U 7 Pa Salt.. 75 75 2GG Phil Bank- war ...174 1G4 164 20 Phila Co cum pf. 3," 3." 35 1206 Phil Elec 25": HOu P R T tc 20 100 Phil Trac lil'i 25 f Beading 75 12.". 'ion Bel. 2JJ 100 Ton Min. 2,e 407 C G I . 54-v, 1UCN.1.1S5 is: 50 tU S Stl.l04fs 104 20tf hk S49,-f- '.4 031l. M 34 .. " SlUl'i 43 . . 42-ls.. n . . 2.-lA 01 75 2 277 period last week, J1C -"'S-. 20 . . 01 H "!.. 'A '-15 -rV r,4v, it 1S5 . . 10 i-ii J', tXet fhancn mnrlM ! Mr.nl.. tii. i.. ; -... it uuuiuuiiBw lYiiu last als on New Tork Stock Ctchdiige. 'n?tal 'al" c367 fhare?. compared with "iiu k jrajnn)-. jnus lar tnis week, "- Z p"i. came ,3. snares $?.',? ln ROMJS f,1,000. . "Ih I'0- 01,- City 4s -43 07U !)Ti 1 Elec & Pco Tr 4s ... G4"i G4h 043.. j Lib Bonds 2d 4Hs.. 01.00 01.00 01.00.. 12 3-10 3d 41iS n.3 22 03.0S 03.22. . 7 4th 4ViS. 01.14 01.00 01.14 ,1" - i gen ,s. !I0 '. HO1! OOj . . i 2 I'll Elec 4s. 71L 7i, 71J, I 0 1 -10 do 1st 5s K ' siosj 'inT i . I 10 Read gen 4s 70 7S 70:!! 7!la, i', Bonfls 50 400, compared with $105 000 seaterdaj- Thus far this week. $300 sou bame period last week. S.'S0.400. Cloe ?et chse FOREIGN EXCHANGE New York, Jan. 23. Opening quo tations for foreign exchange sliow slight gains this morning. Demand fterl.ng. nt 3.64'4, was 2 cents above yesterday's final, as were cables, nt 3.G5. Other advances langed from 1 to 4 points. Quotations were : Franc cables 11 S5 i hecks 11.S7 lire cables 13.00. checks 13.02; Swiss cables 5 52, checks 5 54 : guilder cables 3iV checks 37Vi; pesetas cables 18.75, checks 1S.65; Stockholm cables 20.45. checks 20.30; Christiania cables 18. GO. cheeks 18.45; Copenhagen ca bles 17. checks 10.85; Belgian cables 1102. checks 12; mark cables 1.50, checks 1.40; Austrian kronnen .35. In midafternoon marks took a further drop to 1 40 for cables. There ap peared to be no support The oilier (lasses in exchange were fairlv steadv with demand sterling at 3 03 and cables at 3 G33i. Francs were quoted at 11 03 for cables and 11.05 for checks; lue cables were 14.05, checks 14.07: Bel gians lil.05 for cables nnd 12 07 for checks 400 400 200 1300 300 700 400 400 200 ton 100 400 000 400 lion coo 000 200 400 !00 100 100 1100 700 goo 2400 100 1100 1.-.00 800 000 300 300 .00 1030 14700 200 400 4300 100 100 100 100 400 300 too 200 lr.oo l.iOO too 300 h30 SHOO 1510 330 100 200 310 11G30 400 1900 4700 4)0 1000 mo 100 mo OJO am 4500 15 15S)0 4103 200 1500 3030 100 700 3J0 500 300 2100 aj.- . "Jeh .tuna AtJicoa 301 .. Advance Itumely 4154 B Advance Rumely pf . , , 70V. 6 AJnx Rubber 8? .. AlaBka Gold Mlnca... iy, .. Allls-Chnlmers 48J4 8 Am Beet Sugar siw 8 Am Bosch Magneto ...115 . . Am Can mi 7 Am Can pf 09 12 Am Car & Fdy , 137 4 Am Cotton Oil 49 J4 80 Am Druggist syn 13& . . Am Hide & Leather. . . 25 7 Am Hide & Leath pf. .1144 0 Am Internat Corp . ...10SH 80 Am-La Franco Engine 14 3 Am Linseed S5J 7 Am Linseed pf 07J-2 0 Am Locomotive 08 .. AmStalt & Grain .... 35J.J .. Am Ship & Commerce. 2514 4 AmSmolt & Ref C8J4 3 Am Steel Foundrie3 .. 45H 7 Am Sugar Ref 130 10 Am Sumatra Tob .... 00J 8 Am Tel & Tel 7ft 20 Am Tobacco 259 0 Am Tobacco pf new. . . 97j . . Am Tob Seo temp ctfs. 60 7 Am Woolen 150 . . Am Wrltlnc Paper pf . 60 4 Anaconda Copper .... 0114 Ann Arbor It .. As.so Vrry Goods 59 Associated Oil 116 Atch Top & Santa Fo. S3 Atch Top & S F pf. .. 79 12 Atl Gulf & WIS S...102J6 Atl Gulf & W I S S Pf. 69 Auto Sales C tern ctfs. 17 ! .11294 . . Baltimore & Ohio .... 32 4 Balt.moro & Ohio pf.. 4514 8 Barrett 13614 . . Bethlehem Motors . . . 26 8 Bethlehem Stl 8 pf..H3'2 5 Bethlehem Steel B... 95 3a . Booth Fisheries 13 94 . Bklyu Rapid Transit.. 1314 6 Brooklyn Union Gas . 55 .. Butte & Superior Cop 2M4 Caddo Central O & R . 22 ?4 6 California Packing . . 819 California Petroleum.. 39 10 Canadian Pacific ....PJO'i 5 Central Leather 01 ?a 4 Cerro do Pasco Cop... 55'4 8 Chandler Motors . . . .125 4 Chesapeake & Ohio . . W . . Chi Mil & St Paul 37U . Chi Mil & St Paul pf. 5l'2 7 Chi & Northwestern.. S5J8 Chi Rod: Isl & Pac... 2GU 3 Chlno Copper 37 .. Chile Copper IS1! .. Coca-Cola 37 H 3 Colorado Fuel & Iron SOU . . Colo i Southern 23 23 4 Columb Gas & Llec. . 03 f2 1 Col Graphophone fil'j 494 7 Consolidated Gas ... 024 y2 3 Consolidated Textile . 29 ? 28 , .. Con Interstate CalM.. IS3 18?e 7 Consol dated Cigar. 37'4 57 1 Contlnetal Candy.. . 1214 12 4 Corn Products Ref. . M'i Vli 12 Cruclblo Steel 211 !C5 7 Cruclblo Steel pf 99!i 9914 10 Cuban-Amer Sugar . .428 12S .. Cuba Cane Sugar .... 517'b 50?4 7 Cuba Cane Sugar pf.. 81T8 84'0 9 Delaware & Hudson . . 94 14 94 14 10 Del Lack & Western 178 1JS .. Dener & Rio G pf.... 1214 12'4 1 Dome Mines 12J4 12J-S . . Durham Hosiery . . 62 CO Emerson-Brantlng . . 27 27 7 Rmerson-Brantlng pf. 83 83 5 Rndlcott-Johnson ....135! 13314 .. Erie 13 12! .. Erie 1st pf 1814 19 Vi . Drle 2d pf 134 1314 8 Famous Players-L ... 81 80 .. Fislt Rubber 41',4 409-4 3 Freeport Texas . ... 3l?4 "OH 2 Gaston Wms & Wig.. IS 17 f General Cigar .... 6954 o" 7 General Cigar deb pf 93 93 8 General Electric 167 b 167 12 General Motors 3C194 29514 6 General Motors pf. . S3H 8314 6 General Motors deb. .. 81J4 81 6 Goodrich B F "894 7614 7 Goodrich B F pf 99 97 ?s 4 Gt Northern Ore ctfs.. 38 i 3S 7 Great Northern pf 78 779-4 5 Hartman Corp 103 103 4 Haskell & Barker Car 5714 5714 6 Inspiration Con Cop.. 5(1 IS'z . . Interboro Con Corp . . 4 4 0 Int Harvester 131 128i 7 Int Harv pf new . . . .113 113 .. Int Mer Marine 3914 3714 0 Int Mer Marine pf... 91H S4J4 Internat Mot Truck. . 127 127 .. International Nickel .. 24 13 2414 .. In'crnatlonal Paper .. 82 8014 Internat Paper pf .... 7614 7614 .. Iron Products Corp . 47 46 2 Jones Bros Tea 26's 26H 4 Kelly-Spg Tire .... 13lVa 1"0J4 8 Kelly-Spg T 8 pf..l034 10314 2 Kennecott Copper .... 30 14 30 Keystone Tire & Rub. . 34 14 331-2 Lackawanna Steel ... 8314 8214 Leo Rubber & Tire.. 34 'z 31 Loft Corp 2214 21 14 517 700 Love 30J4 41 70T4 82 194 47J4 9114 114 52 09 136 49H 1314 2414 11314 100 y, 1414 84 9614 9094 3514 2414 0714 44T4 136 8914 07?4 259 87 j 0514 14614 5414 COM 10 50 116 8214 7014 160 G9 1714 11094 3194 45 120 2014 11314 93 V 1314 1314 55 27 2294 8114 39 12814 9014 55 123 54 54 3014 51 85 26 '4 3614 18 37 3814 Toil iiy's Net Close ChBC. 3014- 1 4194 70J4 'A 83 194 IV .. 4814 9114- 94 114 - 114 62 J4 94 99 .. 137 4- 14 40J44- H 1314 24T4 11494 10794 1414- 84 9 J4 14 in 0714 1J4 0714 ri 3514- 14 2414- 14 C814 .. 4414- H 136 114 00J4 14 0794- w 258 1 0714 114 6514- 14 147J4- V 5414- 94 C114 14 It li 59 - 14 110 4- 1 8214- !4 7014 . 162 691 1714 14 112 !4 3194 14 43 - 14 126 1 2614- 14 11314 . . 9494 14 1314- 94 1314- 94 Sales 100 100 300 300 100 200 100 16400 10 ln Dlv. 2500 3 Loewo Co - . 31 300 7 Louisville & Nashvllle.100 1100 7 Lorlllard Tob pf 110 J-4 100 1.75 Manhattan Shirt 3314 100 10 Muntttl Sucnr 128W . . Martin Parry 28 7 May Dept Stores ....124 ft .. Maxwell Motor 3014 . Maxwelj Moto 1st pf. 6114 . . Max Mot 1st pf ctfs.. 6094 . . Maxwell Moto 2d pf . . M Max Moto 2d pf ctfs.. 26 Mexican Petroleum .,197 Middle States Corp . . 44 4 Mldvale Steel & Ord . . 49 14 . . Missouri Kan & Tex.. 874 . . Missouri Paclflo 25 14 . . Missouri Paclflo pf . . . 40 14 7 Minn St P & S St M 3 Montana Power . . . . 4 Mullins Body 3 National Acme . . . . . . Nat Aniline & Chem 7 Nat Aniline & Ch pf 6 National Cloak & S. 7 National Biscuit pf . . .11514 C Nat Enam & Stamp.. 8214 7 Nat Enam & St pf...l02'. & National Lead 81 1614 . 44J4 . 29 , 6814 . 2694 10214 , 79 . . 70 Rich 7300 1.20 4400 4 100 1100 100 100 100 200 330 700 300 100 200 1300 200 200 200 1.60 Nevada Con Copper 7094 05 4714 3814 6514 8694 514 2100 1.20 Keystone Tire & Rub. . 34 14 1600 0 Lackawanna Steel ... 8314 200 Leo Rubber & Tire.. 31 i 3600 Loft Corp 2214 Total sales 555, 40u shares, compared with S.HT'i.SOO 27 2294 814 3 94- 12914 4 124 .M 3714 5114 ! MJ4 2614 -3014-1854-3714-3914 23 - 14 C3S4- 14 501 f.2?4 I 20 114 1894' 57 4- 14 1214 fc3H !4 21214 4- 7 0914 . 423 4- 4 51 !4- 14 eiv, 3414- 14 178 694 121-4- 14 1214 CO 27 83 -135 14 12 14 -1914-1314- 8014- I 4094 -. 4 30 - 1 a, 1714 ' 0994- 94 93 167 - 2 296J4- 014 8314- 14 81 - 94 77 99 38 78 103 57 J4- ir, 4 12914- 113 - 1 3894 19s C?s 1 127 2494 A 81 J4- 14 7614 . . 4614 14 2694- 94 131 - 194 10314- IVi 30 !4 - 14 3394 Vz 8214- 14 3414 14 2114- 1 shares jeiterda 2 g 2 14 14 1 1 'Va 14 300 100 900 1000 100 400 300 200 2500 330 1800 100 800 8800 2090 700 390 1000 C930 2400 10030 2700 300 2700 400 too 600 100 700 400 too 400 090 100 600 100 100 14S0O 100 12500 5)0 100 400 1230 200 100 3900 11700 5230 1000 7300 509 100 1400 30000 100 290 500 4100 100 700 1700 6 5800 400 830 10 50 4 330 4 1100 8 100 7 330 2100 3 200 600 1CO0 3 1900 8 000 8 5400 8 200 8 S00 6 100 3.40 1990O 2 ill New Or Tex & Mex. . . New York C & St L. 5 New York Central... . New Yoik N H & H. 7 Niagara Falls P C pf . . 7 Northern Paclflo .... Noa Scotia S & C. Ontario Silver Mng. . . 8 50 Okla Prod & Ref .... 9H 5 Ot's Elevator 133 .. Otis Steel 3714 5 Paclflo Gas & Elec. ... 57 .. Pacific Tel & Tel.... 434 6 Pan-Amer Petrol .... 9314 G Pan-Amer (B) 8914 3 Pennsylvania R R ... 42J4 . . Pcnn Seaboard Steel. . 32 . . Peoples Gas Chicago.. 3814 3 Pero Marquette 29 J4 . . Philadelphia Co 4094 . . Plerce-Arrow Motor .. C8J4 . . Pierce Oil 19 8 Pierce Oil pf 91 6 Pittsburgh Coal of Pa. 63 C Pittsburgh Coal pf.... 9114 7 Pittsburgh Steel pf . .. 0194 1 Pond Creek Coal .... 23 54 8 Pressed Steel Car ... 90 8 Pullman 114 5 Punta Alegre Sugar .. 89'4 8 Railway Steel Spring.. 97 2 Ray Consolidated Cop. 2114 4 Reading 744 X Reading 1st pf 34J4 . Remington Typewrit. . f 5 7 Rem Typewrit 1st pf . . 90 Reploglo Steel 43 14 C Republic Iron & Steel. 19994 4 Repub Motor Truck.. 5114 , . Royal Dutch Amer. ..107J4 bt L San Francisco... 19 St Joseph Lead 1394 Savage Anns 7114 Saxon Motor 1914 Sears-Roebuck 225 Shattuck Ariz Cop ... 1314 Shell Trans Trading .. 85 JJ Sinclair Consol OH ... 4255 SIoss Sheff S & I .... 7914 Sloss Sheff pf 90 'A Southern Pacific 1094 Southern Railway ... 2154 Standaid Milling ... 141 Strombprg Carb 7214 Studebaker 10254 Stutz Motor 123 Tidewater OH rts .... 22 Tenn Cop & Chem.... 1194 10 Texas Co 202 TcsasCo fullpd ..193 Texas & Pacific 37 Tobacco Products ... 8 94 Transcontlnetal Oil ... Vf. Union Oil 3114 Union Pacific 12214 Union Pacific pf . . . . C6J4 United Alloy Steel ... 49 Un on Bag & Paper. 97 United Drug 14214 Un Ry Invest pf 2814 United Retail Stores.. 8GJ4 U S C I P & Fdy.... 201-4 U S Express 30J4 U S rood Products... 66 U S Ind Alcohol 10594 U S Realty Imp.... 6214 U S Rubber 12414 U S Rubber 1st pf. ..11414 U S Smelt & Ref 70 U S Smelt & Ref pf... 4074 U S Steel 19314 7"(U S Steel pf 11514 230 0 Utah Copper 75 2S0O .. Vanadium Corp 48 14 500 4 Va-Caiollna Chem ... 66 109 8 Var-Car Chem pf . . ..HI 1800 .. Western Maryland ... 11 Vi 530 7 Western Union Tel ... 8054 1000 1 Wcstlnghouse E & M.. 5214 100 Wheeling & L Erie... 1154 2J0O 4 White Motor (.014 100 .. AVIlbon & Co 'A 20200 1 Wllljs-Oerlaml .. ..28 200 8 Woolworth V W . . .120a 2200 .. Worthlngton Pump .. t214 100 . . Worth Pump pf li 72 Ei-dUldcaJ. Thus tar this veek L' S67 195 Same period last week. 3054 106 ft 11014 3314 138 K 28 124ft 3014 6014 0094 25 54 26 19314 4294 48ft 8ft 25 40, 70 54 66 47 38 ft 65 8694 7514 115, 80 10214 80 ft 16 44 29 6814 2014 10214 7814 7014 8 ft Oft 13114 36 57 42 9114 S8ft 42J4 32 37 28ft 4094 ec 1814 91 62 9094 9194 23 CO 11414 S8'2 97 2114 74J4 34 ft 835s 99 4315 16794 5 1 14 10694 18 54 1354 71 1854 324 1214 414 41ft 7 89 3094 2194 141 014 11054 JV3 2154 1154 10814 1S3 : 094 89 25 14 31 121', CGl-i 489 91 Yi 14 2 IS 2714 514 20(4 30 14 1394 104J4 52 12294 113 ft 6954 46 ft 10414 115 7414 47ft 6514 111 10ft 8S4 52 11H 58ft 74'4 2734 126U CO 14 Low Close. Clite. Today's Wet 31 J4 105 ft- 94 110V4 .. 3214 .. 12814 V 28-1 124ft aft 3014 ft 6014 0054 195 44 4914- 8ft 25 -4014- 70 ft 05 47-1 3814 14 6594 194 8694 14 7514- 94 115 - 1 80 3 10214 .. 80ft- ft 1014 4414 214 383 6814- A 28ft- ft 10214- 7814 7014 14 94 14 14 H 14 14 "4 94 254 114 H 8ft , 914 13114- 3714 114 94 57 1 42 0154 S8ft 4214 32 3714 ft 94 02ft n- 9114 9194- 2394- 96 -11414 89 - 97 -2114-7414- 34 ft f4 - 99-2 4314- 114 109 14 51 14 10714 94 1854- 1594 71 1854 14 54 ft 14 A 94 ft Ve 'ft 94 'A 14 154 14 U4 DISCOUNT AD VANCE FA VORED BYL OCAL BANK OFFICIALS Believe Prompt Deflation of Credit Inflation Will Follow Estab. lishment of 6 Per Cent Rale m 94 i 1214- 94 8594 114 42J4 7914 4 8014 I- 14 loo 14 l 54 94 141 5 70(4- "2H in 14- H4 12.1 3 3194 - 14 1194 . 199 - 194 193 3 ?694 - 15 8i 15 - '5 ft 4- 14 3t4-r V4 122 H r '4 CC15- 4894 914 215 14215- l'i 1814 H4 sMi 14- 94 20 (4 soft- H S15- 14 U594 ft 6315 14 K314- 5 113ft- ft 70-1 46 ft 9a 10154- 14 115 14 7414 ft 1794- 94 C5ft- 14 111 1 10ft- !4 86ft 1J4 52 54 ft 118 T 14 5914 74 i -2S14-12(115 All other developments nnd consid erations were nomnletplr eellnood tn local financial circles by the raising of wie oanK rate to o per cent. The ef fect markctwlse was hardly, noticeable, except that it was reflected lu still fur ther curtailment of the volume of. busi ness on the stock exchange. In so far as prices were concerned, it meant noming. uie majority of the local stocks were cither stationary or moved within the same familiar narrow cir cumscribed limits. The Philadelphia National Bank warrants furnished the only notewor thy exception, with n spread of 10 points between 164 and 174. The higher price, establishing a new maxi mum, was made shnrtlv nfter tlin opening, and was entirely lost in sub sequent reaction. Ab to the remainder nf tlm Inn1 stocks, it was merely u continuation of the snmo fractional juggling on n very nmiicu volume ot dealings. It would reoulre n wMo nrmtM, nt im agination to attach much significance in what was done. There was a fairly active demand for the Allinncc Insur ance Co. warrants, which were all taken nt G. Philadelphia Electric ex hibited n notable degree of firmness, whilo, on the other hand, fractional concessions were made hv TTnlrr.,1 (.as Improvement, Philadelphia Rapid Transit and Lake Superior Corporation. The advance in the Federal Reserve Bank discount, or rediscount charges was naturally me sole topic of dis cussion in both banking and market circles. Most of the officials of the larger banks nnd those who had made a close study of the credit situation generally expressed approval of the action, in that the opinion was uni crsally expressed it would bring a prompt correction cremt situation. of th- -eiiotii Fa,I?(' of tho ""liquid slate of h. i credits the ref.er.ve position of both itt Rational or member banks an ' t federal Reserve Bunks has been , T ' thing tut a comfortable one rl' reserve dene r nf rim Vn.. vl" ,.. ing Ho? institutions it , gC3, recognized, was only corrected las Hfl lteserro Bank strengthened l,v- ,',"' ci,irti. 1 'ii- "".""s-"" .....,,, , iruisyoruuK to other Itelnnni reserve institutions, whose d sennnf! account were pk ntnn.i.i ""soiints riils consequently could only b . garded as a temporary rather than permanent re lef or curative of a dan gerous condition. Advancing theo,n" mercial rediscount late lo 0 .,"; VCill result, it is believed BPneic,lrrnnl -st curtnl'monl of nil classes of "i" loans, and will affect the lot.g-wantoi loans.""" " "ga,,lit n5r7 hi Pennsylvania with the legal rate established at 0 per cent and the count fixed at the same rate there wo, 1,1 be little incentive for tho banks to tend credit risks. That is to ,a " bank would 'ask from the borrower (i per cent for the loan, and to be i funds to do so it would hnve (o borrow from the Federal Ro3"nu Ilnnk. whkh at the present rediscount charge w01 exact the same rate of interest ns pi by the bank's customer, whether he ,e a merchant, manufacturer or cncatM in dny line of business. While this clearly xpells restriction nf bank loans in nil forms, officials of the catling local banking institutions do not believe business conditions will ! greatly, disturbed. To the coutran tho opinion was unanimous there would develop n , healthy adjustment of tin. credit situation and bring about a quid, deflation of existing inflation. BULL SUPPORT KEPT CORN MARKET FIRM Owing to Conflicting Factors, Traders Keep Commitments Within Bounds CHAIN Bni.T WEATHER rORECAST rhlrnso. Jan 23 Hiiro's. Missouri. Wis consin, Town, and KnnsAa Cloudy nnd colder tonlsht: Saturday penerAlly fair nnd colder Minnesota nnd Wyomlnrt (nrally fair tonight nnd Saturdav. North Dakota and South Diitota, Nebraska and Montana Fair and colder tonlsht ar.d Sat jrda. Chicago, ,Ian. 2.1. Bulls supported corn today which, with covering by shorts, kept the market firm. Traders as a mle were badly mixed, owing to the many conflicting factors surround ing the situation, and kept their com mitments well within bounds. No ills position was shown to press the sell ing side. e I Piedietions of n iohl wnr suggested 14 I a continuation of small leceipts. only '4 "0 cars of coin being expected here to 14 1 mnirow. It was thought that the em bargo against forwarding to the r.ast would be lifted within seventy-two hours. There was pome nervousness over the increased discount rates nnnounced by the Federal Reserve banks n the Rast. Oats were firm on buving bv cash bonnes nni shorts and in sympathy with coin. Transportation conditions were awinst an fresh expoit business. The inquiry for shipment abroad persisted, but shippers nre afraid to commit themselves, ftuthcr. pending improvement in transportation facili ties, 'tomorrow s arrivals were inti mated nt SO cai.s. The news on winter wheat continued bullish. T.eadlns futures ransed aes follows: Corn (new delherj) Yest. opei inch Low uiose close t 4L"t 1.44"t 1.42'i 1.44'l tl.12'4 1 a.!'-, i..i-,n l.aavi i.a.v, 1 saw i.3i9 l.aa1 l.aiH 1 33 154 Financial Briefs DECREASE IN EXPORTS The average pure of twenty active industrial stocks declined 0.-0 per cent yesterday to 102.:i(!. while twenty rail roads declined 0.1 S per cnt to 7-1. 'JS. December Total Drops $60,000,000 Below November Figures Washington, Jan. 'SIl. December ex ports decreased in value $00,000,000 from the $7-11,000,000 recorded for No- C N Haskell, piesidfiii of the Mid- ember, while imports dropped to R8S1,- 000,000, a decrease of S-14,000,000, ai -cording to a statement today bj the Commerce Department. The excess of expoits oer imports for the entire jear 101(1 reached S4.017,- BANK CLEARINGS the sj months, Bank ri.arlnc today comn-rri ui,h - ended August l last it 1, stated b rekponamt da last tno iin the piesident that the (oinpany nnd l(i( loin .mo .1 . ' .-.. I. . 1.. -.-., fn.ilt in lin.l with tho relativelr small I Ph.la. S7S -i t2 !i hi Ur,t t,i '.i !?., i l lorpgitiu m is con 11 01 s own l.u die States Oil Corporation, made pub lic somp figures jesteid.iy which 111 0 interesting and unpoitaut in view of the recent sensational dorliue in tin stock. He sajs that monthly average nat ,n.n(m,a Itafni fi tnvtiu In. l,n fnit. months ended Dei ember "1 Inst w ei e I 22,,9?; ", 'i'!1 ren- Imports totaled S218.000, computed with a monthlj uv- '"'-1'"""-""Y: "" inipons amounting erage of s.i'.Miuo in ended August 1 last taut to nnu witn tne relatively smai ran its ojs i2 jan 5411 ;n $m 212 nss "1 "''..!; '1 . i V,i- . , amount of credit at present consumed bv 'ff" 14'8,.'-;LyP . ."J, J si.foKwi Producing we Is and I ni e di illing twentv -,h. .,,,. ,t, mnrirne n,i th intst n,i J. 'V.1'"? ,U5J.' t4.1 U .i ;?'. . eight. -Middle States owns stotk in five subsidiary ontein, the secuuties market and the latest ad vice in iediscount rates is aimed at evils of speculation in quarters other than Wall street, but it is believed that the stock market is bound to feel the repressive stpps taken. Ultimately, however, it should share in the general benefit derived from the strengthening of the whole financial structure. Not much attention was paid to the reports suggesting an early compro mise on the peace treaty. There have been so many false alarms in this re spect the street is disposed to wait for something definite. After holding at (1 per cent all day, the call loan rate rose to S per rent in the last half hour. A squeeze of shorts in Crucible Steel caused that stock to advance 7 or S points, and other steel shares made no important changes, the niaiket remained dull in the late trad ing and prices sagged off again just before the close. 1 hcaci 10T SSI (1'4 RH-. An ' t yori -' anv s&t c:o run int St I.oms 2P EOS 672 27.O49.10S Do., oil 1 LONDON METAL MARKET New York. Jan 21. Cable advices re ceived at the New York Metal Hxchance this mornine quoiea prices in j.onaon loaay as follows Tin Spot, C3S7 Gs, an advance of ii 10s, futures, 387 15s, an upturn cf it 13s Btralts fSOI. a train of 2 B. sales Spot SO tons, futures. S50 tons .Standard copper Sot, 115. up Ds. futures, 110 16s unchaneed. Sale Spot, none, futuren 1300 tons Electrolytic copper pot 121 futures 12-' unchaneed Lead Spot 40 12s Rd off 2s Cd futures, 47 unchanied Spelter Spot. 58 6s, a Kaln of 5s. ftures. 00 Ss, an advanca of 10s Refined Sugar Remains Unchanged New York, Jan 2.1. -Tho refined sugar market remains unchanged. The American and National companies ure quoting 15c, Jess U per cent for cash, CARLE$ PEARON ft. CO. KS ff'SrS.-? n1,1!8 & n..4....i r.. i i.' -:" jv.j --,. ;,. - " " 883 ;iiestnut Street i rcfiaers icaa-alu ' r withdiawn. AVest iV. Co. have bought the piop crty at l.'ill Walnut stin-t and plan to erect a four-stoiy building into which thev will move when the new nuarters losed 7WS i per rent -Inst ' " ready for occupaucv . It is expected Stfiu&ft CrVen?!! --t this, will be about O,, f thll ti41l mv" I"-" uiiiiuiii VI IU Ll" Ut - ftipied entirely bv the olfifes of West & Co. MONEY-LENDING RATES NKW YORK -Money on call opened ui w n-i triu, mgii. r, per cent; low. ( per cent ; clo uiu. o per cent ruling late, (i ne.r As t'ompdird with the unen innrknt rate for prime bank acceptances, iniwd by the New York federal Reserve Bank jesteidav fiom 434 per cent to fi per cent, a further advance of '4 per tent, to ."'i per cent, is ai noumvd by Hie banks this morning, affecting all ma turities. Lending dealers have 1011 foimed to the higher into. Piimc bills aic li'j bid. offered at S'4 per cent for members, and non ineinber bills 5"s P.er cent offeieil nt ,"i's per cent. In time money there is no telnxntion. On industrial collateral S per cent f bid nnd some business could bo done in a small way at Sijj per cent. On good mixed. V per cent is ficely bid without diawing out any funds. PHILADELPHIA Call. 0 per cent ; time. 0 per cent; commercial paper, three to six months, 0 per cent, Liverpool Cotton Lh pi pool, Jan. 23 Spot cotton was quiet today with prices steady on the basis of nn ndvnnee of -10 points for middling at 27.(i0d The sales were ri000 bales, The receipts were 20,000 bales, including 18,700 bales Ameriran, Kit t tires were steady in the early deal ings. Spot prices were; American, middling fair, M'i.lfid; good middling, 20,01d; fully middling, 28.1f)d: mid. dllng, 27.CCd: low middling, JKUld; goon onjinpxy, i,ia, spa 9ffir, -t-ii- t Net profits of Continental Mntois Corporation torth' ear 1 nded October ."1 , weie S.'(.'12r.7-,."i, before deduction of $l,lfirt,(iS7 in dividends and pre mium on preferred nnd common stocks, which compares witli net profitu before deductions in 101 S of S3,01.",5-IG. North Louisiana oil fields jichled .130,-110 barrels of new output during the last three months of lftlll. That was an average of about 110,000 bar rels a month, or 3000 barrels n dny. In November last the Notth Louisiana division exceeded North Texas in new oil, amounting to 1(50,-1(J5 barrels. Gold exports from the United States for the first ten days of Januaiy aggre gated $14,008,513, nccording to figures compiled by the Kederal Reserve Board, fiold imports for the period weie but $101,080. The New York subtrcasury gained $324,000 from the banks yesterday, re ducing the cash net loss since rrlday to ssa.ain.oofh CHICAGO BUTTER AND EGGS CrinV'iiJ'S- 23. HUTTBR. Uncnantted. KOCJ8 -Hither. Jlecelpts, 2704 esse Firsts. ejCHMWic! ordinary flrsts, BOCfOOei St mark, rases innhi1rt. ARS7ifl5l ' vwvv, '',,i58"js(i,x u,f" ,"1?,'eIi n"3' 3s to S3. 004. 000.000. coninnred with ims exports of $0,149,000,000 nnd impoits 3.(I31 .000,000. 'Gold imports amounted to $77,000,000, compared with $02,000,000 in 101S, while gold exports jumped to $30S,000, 000 from $41,000,000 in 1018. DIVIDENDS DECLARED lobacto Products Corporation iurteHy 14 ner sent on common, payable I'ebruary 16 to stock of record Fehruarv 2 tVIre Wheel Corporation of America a dividend of 1 per cent on fi per cent pre ferred, payable February 10 to stock of record Pebruary 2. Borden & Co , remlannual 4 per cent on common, payable February 14 to stock of record January 31. American llu!!waa Co. quarterly of is; per cent on preferred, puab!e February lt to slock of record February 0 United Tower and Transportation Railway, dlildend of 51 01, pajahlo January 30 to stock of record January 13. Mark Depreciation Berlin, .fan 23 Surprise is ex piessed bv the Tngeblntt that the credit of 200.000.000 florins recently extended to Germany by Holland had failed to cause a recovery in tho value of the mark, and that, on the other hand, the depreciation had continued nfter the conclusion of the loop. The newspaper quotes Berlin bonk ers ns explaining that this condition is due to practice of permitting foreign credits for Germnn exports to remain ubrond, both because of a desire to con ceal capital and also in order to have available future funds for the putchase of raw material. GOVERNMENT BONDS Panama cou 2s 1030 , Panama, reir 2s. HUH Tanama cou 2s, 10 IS Panama res 2s tft'ls , ., Panama cou 8s, 1001 Panama reg- 3s, 1081 Philippine 4s, mat ! ijhinppino 4s, itm ..,;;;;" Philippine 4s, 1038 ..,."' U 8 (lovt COU 2a. JM0 .,... It Govt rT 2s 1B30 ,. . U H flovt cou 4s. 102'i It Oovt rer 4s. 1021 D cf t-'eliiinblii z Ofr, 10:1 .. Wd Asked f'BJi luoti . i'4 100(4 iw'-i loovl ... 8su no4 . . ssvj 90H ... oa no , .. 2 (IH ,,. 53 lid ...loo 10011 100.. 100(4 - mil 10fl v .' LIVESTOCK QUOTATIONS Chlcuto, Jan. 23. HOGS Receipts. 40, 000 head. Ixiwer Built J15 10C915 40, ton. J15 43, heavy. J14 00016.35, medium, 113 10015 40; llBht. $15 15015 45; "lutht llEhts. J14 7815 10, heavy packlne sowa. smooth, J14 35014. 75, packlns sons, rough, $14(814 33; pigs. $13 7514.7n , CATTLE Receipts, 10,000 head Steady. Beef steers, medium and heavy, choice nnd prime, 1 10 50 IS 50, medium and good, $1105318 50, common. $0 50(31105, light weight, good and choice. $13 2317 25, com mon and medium, $0013 25. butcher cattle, heifers. $0 75014 25, cows. $0.75013, can ners and cutters $5 7500 73, veal calves, S17.0013'10 25, feeder steers $8012 30, stocker steers, $7 50 11 SHEEP -Receipts 11,000 head. Strong .ftT-V.82520-80..-, culla nnd eommSn, J15!S i5; '"n"' me,dlum. sood and choice, $10012 30. culls nnd common. $000.50. East nuffalo, Jan 23 CATTLE Re ceipts, anil head Heavy, slow; others 5 ,,"'.. '"r:rece,P1"' BU0 head. One dollar higher, $024 50 HOGS Receipts. 5500 head Tlfteen to 25 cents higher Heavy. $10 2.1. mixed, sorkers, light do and pigs $10 40O10 50, roughs 014014 25. stags $10012 """"' bHEEP AND , LAMHS Receipts. 4000 head Lamtu 25 rents higher. Venrllngs. Vi cents r-lgher Lambs, HW2t .',0, jear lings. $10018 50. wethers Jial4. ewes. $4012, mixed sheep, $12 50013 East St. Louis, Jan 23 HOGS Re- ' --iiib, 1,1 vui, nriiii. l,ower 1IUIK, ll.V 4(101' 15 5', heav. $1.13001', 60 medium $15.40 .J'-f.i1?!!' , US3J!BS, light lights, V.i iSS!s,li0- 1,cavy packing sows, smooth $13 75014. packing sows rough, $12,750 13 76 nigs $1160015 23 ' ' TATTLE Receipts 2000 head Strong neef steers, medium and heavyweight, choice and prime $10017 medium and good $11015,76. common. $0010 55. light good and choir- $131K 50 common and medium. $R 25012 75, butcher cattle heif ers $7 2IJ cow. $7 25011.60; canners and cutters $15007 veal calves, light and mands weight' $13017 50. feeder steers $8 50012. stocker Bteers $7010 30 SHEEP Receipts. 2(10 head Steady J-njb $10 2.1020 21 cull, and common. $1201.1 jearllng wethers $13014.33 ewes medium and choice, $8 50012 60, culls and common. $4 7806 COTTON PRICES RALLY IN EARLY AFTERNOON Heavy Exports and Absence of Selling Lead to Firmer Tone cotton nnr.T weather conditions New York, Jan, 21 The following i,cmpe.vlil,tur'8 ,ere recorded In the cotton belt this mornlnc: Oklahoma 32, Tort fmlth and Little Rock. 3a: Memphis 40 Wilmington. 44. Shreveport and Atlanta' 4(1; Augusta, 48 Charlerton. 64: Corpus Christ! and Nashville. 5(1. Mrcoii r,S lvnpxllle and Siannah, (10: ThomnsvliU an5 ,T,n.m?a' "- Jacksonville Meridian and lcksbuiir. 114: Galveston. t'enacola and Montgomery. (10, New Orleans, C8 There was .02 Inch of precipitation at Corpus Chrlstl; 04 nt Atlanta. 21 at Knoxvllle, .22 nt Oklahoma Cltv 4i at Memphis. 5S at Vlcksburg: .S8 at Lltll Rock. 02 at Sbrevepoit, 1 30 at Nashville, and 1 40 at Fort Smith. Ncvv Yorlt, Jan. 23. Hravv csports and an absence of southern or profes sional selling led to a firmer tone in the early afternoon, pi ices rall.ving to with in a few points nf jcsterdn.v's close. There wns little fresh business, how ever, and the trade, ns a whole, ap peared to waiting outside development1!. pcarcd to be waiting for citside de velopments. The export weie (!0,8S0 bales, in eluding r7,.";44 to Gteat Britain, UN) bales to France, 2.10 bales to the con tiueut und 10,005 bales to Japan and China. Clearances for the season to dale aie 3,040,010 bales. Rt's 73 Jan. Mav July Oits May July J'ork .Tan, . May . 3S.50 Lard May 24 20 July Ribs May . 20 1.1 Julv . "iiid. TAsl.ec! ST. SI', 74' I S'.l (l.'i 33 $5 83 75s, 82', 75 24 21 21.55 20.00 20 00 il 01 :t.4u 20 tl 20.77 .".o.nn 31 00 30 0.1 ,30.00 24 21 23 .10 24.53 t2l.4J 20 00 1 10.70 20.S7 tl'U.OJ Jan .March Mry July . Oct Dec Bid Yest. Today's close open High Low . ...1S.10 28 10 .18 15 .17 00 , . ao.2.1 ail is aii as .11 si 114. ?"i 34 12 34.31 33 S3 . 32 30 .12.1.1 .12 40 .11 82 .to oi 2'i 02 an oi 2n n . 20.43 2D 33 20.42 20 23 37 7(1 JU 29 911 34 JSijJ aj .1 1 20 (11 '20 33 Cotton Ginning Report Washington. Jan, 23. Cotton gin ned prior to January 10 amounted lo 10.322.148 mulling bales, including 112.S42 round bales, 3.-.251 bales nf AinenVan-Kgyptinn and 0S2S balr nf Sea Island, the census biiirnu ,m nnunted todnv. This compjiis unit 1 1 .048.(i.-2 bales in 1010 uud 10,."70 733 bales in 101S. City. Jan 2.1 HOGS Receipts, 'J,r ,fnTr ... Hulk 15 10013 30, Ui " f,,5n,5:rt'"'. . 5 100 Kansas City. "nun nean heavies $1 Wf&Afrv 'u.?,y .p'ii'in- wi. CATTLE Receipts 25,000 head Lower y'AVnb"f V,"" ch,olco aml P1-""". 118 BO 017 60 medium and good $12 21010.11 common $l(i 00012 25. light VooS i .' .S"'.lfrt,So1r:,';.0f rBhB0' "J1"" "5m.dluBmrt 8 26012 25; butcher .cattle, he fers. $fl 80 18 76. cows $8 50012 2.1 canners and cur. ters. $50 0 50. veal calves. $14 016 ao-uti. lOft'o"' S-"ila 60- 'tocler tee?i: $8 Co BHEEP Receipts, 2030 head Higher i5?aSvV,B,57ei'"i cul1" nd common !!'1!Ij,!8iiWi5,'""' '""'i ' fl1HOas,Tnclll- i" iivnv and lis. IISKain nTiil" .mi head, . nstn.f ui.r. .- yr uK?tl rittftburgfi, Jt ..uu neaa act., Rirfin ' m. fi CAI.VT Top, s;' BUTTER, EGGS AND CHEESE Xew York, Jan 23. BUTTER Firm Re ceipts, 5107 tubs. Creamery, higher than extras. (1.H4 0OTIC: extra (02 score), rt.lc; first. ,!0! 0OH?c; packing stock, current make. No 2 42c. EGOS Irregular. Receipts. 74.11 cases Fresh-jathered e-ctras. 74 071c do, evtra firsts. 72S73c. do, nrsts 00 071c: state PennsvHanla and nearhv western hpnnorv whites, firsts to extia, 7808.1c, do, brokn. 70077c. do gathered browns and mixed colore 7 1 7D 75c CHEESE Irregular Receipts. .178 boxct 4tate. whole miik, flats current make, spe clalo, 31'-i012c, do. ,erugo run. 300 3lc: state, whole milk twins, current make, specials, 31's 032c, do. nwerage run, 3O03K. New York Metal Market New York. Jan 23 Copper Spot. .Tnnu nray and February, offered, 10c Market dull Lead Spot, Jnnuary and Tebruary 8'4 08c Market quiet Spelter, East Ht r.ouls ah months, U 1000 25c Market frm i . :;' BUILDERS' I MILLWORK Doors, Sash, Mouldings, Colurnns, Etc. THE HANEY-WHITE CO. Plant 13 17th and Glcnwood Avo, :j.:; Office and Warchouit :j; 21st nnd Glenwood Ave. ;j:j Lists From Plans and Estimates Given H 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. Invoitment Bankers CLEVELAND Cincinnati Detroit Columbus lron Youngstnwn Omaliii Dcniir Colorado hprlncs Members all prlnclpnl excJiaitfl" Prhate wires to leading markets 1WsV t I '.wv.v.J ;;-:w:S3 Trust Officer wanted by a Philadelphia insti tution; one competent to or . Kanizc and talte chartje of such u department; state age, ex perience and (.alary c.pected; replies confidential. Address M. 118, Ledger Oflice UBERTY BONDS Bought, Sold and Quoted Call, Phone or Write Liberty Bond I West & Co. 1417 CHESTNUT STREET Bell. Spruce 3S0 &jrr"t rj,y,iDn Kiyslone, Race 2900 rhllsMelpt M fliuvk ri't.nc w Alwajra Umf n li,.l h I ( f High Orsds llo hi jr-iimM-i,,, (imif.l K 'i .. t , .AM' "' AJ. 'V . tfi V .-.c &T- x. r ' .3 ' ,. ... i. t y ' it .Jx,'!ll
Significant historical Pennsylvania newspapers