-rw,,
f v. , .
i -ft-. I' wiuuuMBivwjnr. . ' srvi-m
, t,t
JL
;' v . l i' Wl . - .'"ax,r
v-v.wt"..tvw kevv iisr r' n'Tti --
4ft
'J 1'
- "
?s
", ' i" .. v . .. b '
t
1T,
It
I' ' " ,. . r
. .... M
EVENING PUBLIC LEDGER PHILADELPHIA', MONDAY, JANUARY 6, 1950
TO
NEWS OF FINANCIAL WORLDNEW YORK AND PHILADELPHIA STOCK QUOTATIONS
$" ' or nn( recommend:
r:r -. ..
ttii
Hl
' i
renna. Kailroad
Console's due May, 1948
Prico to yield 5.10
Secured by direct mortgage on
1159 miles of road, comprimug
main Hue, Philadelphia to
Pittsburgh with branches.
Followed by $17-1,375,000 Gen
cral Mortgage Bonds and all
the capital stock.
Free of Pu. State Tax and
Normal Federal Income Tax.
Price range high 103, low 82.
Your orders sotiiitcd
Carstairs & Co.
Member Philadelphia and
Jiew York Mock EicHaiues
1419 .Walnut Street
71 Broadway, N. Y.
mmw:,amm'MiCiMMBawasKi
ESTABLISHED IOCS
BIOREN & CO.
BANKERS
AlOCIieslnut 51., Philadelphia
Government,
Municipal, Railroad
Corporation and Utility
Securities
lfemtjera i ew Icrte and Philadelphia
EP!illi:!llJi!III!:i!illi!lil''lillIirJ:i!!!i!iniJlll5!iilliM:3?JiTffii;Briiraii3
MARKET DEVELOPED MUCH
S TRONGER RESISTING POWER
Free Covering of Shorts Brought Substantial Rallies Following
the Uncertain Opening
New Vorlt. Jan. 20. About the only
noteworthy development of today's stock
market was to be found in the apparent
increasing resistance displayed against
the attacks of the benrHi contingent.
Otherwise there was little iii the char
acter of the market differing from that
of the immediate preceding spsions.
irregularity and professionalism con
stituting the predominating feature of
he operations.
Considering some of the handicaps,
he tone of the market could be described
as fnirl strong. The foreign news was
anything but pleasant, which wan sup
plemented bv fresh weakness in foreign
exchange. The reported unrest in Ger
many was reflected in the fall in marks
to the lowest level touched on record.
L'hen there was the usual Monday morn
ing uncertainty concerning possible
decisions from the Supreme Court.
Saturdays bink stntement likewise was
far from being inspiring, with the further
heavy lnjs of clearing 1iojip reset o.
Despite all these price-disturbing in
fluences, coupled with the munv other
uncertainties, the bear party hud a hard
road to hoe all day. Hushed b, their
success of last week thev l.iuo"hrd an
other drive against tho list at the open
ing, selecting tho motor group tigaiu as
the fulcrum of the market lever. The
market, however, was not u bulf-hour
old before it was obvious in all dine
tions they were plating a losing gumc
Kather than starting the list downhill
again, the offerings were we-lcomrd in
order to execute buying orders that had
come into the market over Sunda.v .
which otherwise would have been tilth' -culit
to fill by reason of the undeniable
told-out conditiou of the market.
After a brief period of uncertainty
vielded 1 to - points, the whole list de
veloped increastug resisting powers.
TUi! at first produced more or less ir
reguluritv in price movement, but soon
after there was a perceptible hardening
oil along the Hue.
The improvement which followed was
especially marked among the stocks
where the shorts rccriitlv. were most
active. There was. however, a general
strengthening all through the indus
trial list, in which division Interest
still converged, dealings in the rail
roads and tlie coppers as well, being
of the same meager proportions und
of the same indifferent character.
Gains were temporarily shaded on
the publication of the foreign exchange
quotations, but were largely recoveied
again when the opeuing call money
rate was established at 7 per cent,
which was regarded as comparatively
easy considering the character of Sat
urday's bank statement. Apart from
the shorts the demand was again lim
ited which was reflected in the dull
ness which developed toward noon,
which also was partly influenced by the
desire to await news from the Supreme
Court.
This halting period was brief and by
early afternoon the market forged ahcud
again on renewed buing of the steels,
oils nud utilities, especially the gas
shares.
Despite there was no decision forth
coming from the Supreme Court on
the long awaited stock dividend case,
and the fact that the court would take
a month's reces failed to check the
upward swing during the kiliiucc of the
afternoon. Highest quotations of the
dav were recorded in the active last
hour, the market ignoring a lit per
at the outset, when some ot the more cent money rate and the further break
active industrial speculative issues in exchange.
FOREIGN EXCHANGE
Wc Sell "Calls" on
FRANCS
' liecks on Paris
ITALIAN LIRE
Checks on Milan
GERMAN MARKS
Checks on Berlin
Jlunnlcs three to nine mtnths la
the above Fcrelgn Exchange at pt
allinc tow ratee
Write or call for particulars
Newburger, Henderson & Loeb
a MU.ns
1410 CHESTNUT ST.
Members N V. A a'MU. Stuck
L5t nances
MABKFT TlUUf ("
IliriSVIil I llllil
i mi nil i i i wi if-
Rfliinn innnnnurni isaiiu
u h n M
i
Philadelphia Stocks
I'.'s
10 vt
Vigorous Rise in Stool Croup
Injcctr. Now Life Into After
noon Trading
to
sou
SHORTS KEPT ON A HUN
New York, Jan. 26.
Evening Sun's closing
The New York
financial review
BARGAIN DAYS IN BONDS
Railroad lames at the Lowest in
Fifty Years
Let Us Submit Offering
EDWARD V. KANE & CO.
Morris Building
Tllsli
lus
war . .
vAm Strs.
"0 Am Gas.
Hi0 Cam Ir .
10 Con Trar
N .T....
mi El Stor..l
lOOGtPCem .
100 do pref. l'.i
mo I C X A Sl,
2(10 Lk S Cor 20' i
uO Lap Mono Sm
1.-. Leo Vnl. -13R,
G6S Ta II R. -123s
202 Fh Bank
war . ..1(30
100 Ph & W. li
110 Phila Co. 41
500 do c'm pf 8r
340 Phil Elec 2.1
,141."P RT tc 2oJi
!)0 Tu Trac. VC,
'JLMi l( I... o-i
Close
Net
chsc.
til.
00' ;; r.ou
10
WO
ii
m
::t
20',
Ol's
40!1
;ju&..
10 ..
luOU..
10
:t4
J0U Vs
ins, 433:4- '(
42'4 42's i8
GE0.A.HUHN&S0NS
STOCKS ANU 1J0MM
Members of the Ph'laje pbl. New
Torlc and Chlcato Stock ExchasiM
New Tork Co'toa Ei"heng
Commission Orders Executed in
All the Principal MarKets
BKfJ.v.vj UK COl'UT UXJU.
HIS VValuot t
HEW TUKK Oi rjCE
JH Broadway, New York
1st 5s.. . .
;; Head gen is
1 W N Y tc V
1st 5s . . .
Total $11 con. compared
Trust Officer
wanted by a Philadelphia insti
tution; one competent to or
ganize and take charge of such
n department; state age, ex
perience and salary expected;
replies confidential.
Address 31. 418, Ledger Office
says :
Sn e.xcellput tone prevailed in the
stock market at the beginning of the
new week, although trading was dull to
a degree. With a few exceptions price
changes were trarrow on the construc
tive side. Considering the smallness
of the market and the absence of auy
tbiug like public interest in quotations,
the onh importance which could be at
tached to the .luggish but cnnnsteul
advance was as a refleetiou of the tech- I
meal position based on a large short I
interest '
Opening prices were irregular and I
mixed. After the first fifteen minntesi
or "o, however, nearly everything in the
lirl nioTPd forward well into the second
hour, when some hesitation was noted as i
the traders held back awaiting, as usual j
on Mondavs in recent weeks, a possible ',
iici'ikimi from the Sunrcme Court in
the stock dividend case. J he fieeision Sdturda
was not forthcoming and it was an- -
nounrcil tnat tlie court wouin iase j LOCAL
recess tor a monin irntn nni .miuuiii.
It vvjs conjectured that in view of this
a deW.-ion might be rendered tnen. rasll noj
At anv ratP. new life was injected into ijim tiutlT . .
the b-t m the early afternoon on ,llP 'ijffi" '
buying side, and the best showing of the Miipah Ux'tenilon '
se'j-iou was made from that time nu t Montanj
the .In ins Crucible Steel crowed 2.".0 , .Jti suru .. .
in that DTirol, I'nitcd States Steel ran iTnopah Extension
.mo f.-. 1fl7 Kn rivv m l.ncnnintlVP nusucr , w nu
through 110. and the oil group was in 'st
night past. The paper stocks disclosed !dDftlJ0n
nronounced strengtli. International and i fceictie-
Araertctn AVritiug Paper preferred in
particular.
The motorf did not do a great deal.
The rails were disposed to be a bit hravy
notwithstanding relative strength in a
few like Tf as and Pacific, St. Paul and
so on. Canadian Pacific wa" pressed
down between 2 und ." points.
'I here wah no especial change in the
inonej situation, time funds continu
ing largely nominal anc; can loan re-,Jn i
newing at 7 per cent and ruling a good verdy
part ot me time at tnat ngure. I zone
101
lOSJ,
24 a i
r,t'..
152 3
0 9i
41 Vi
2,V',X Vi
2t 1
SO . .
ol's-
220 tU S Stl.lOGii 103's JOOVj 1
'Net chdnce mide bv comparison with lart
st' on New Yorl: ."-took Cxthancc.
Ttal viles 15S7 shares, compared vitb
HST rlurrs Satu-dav
Sales in l!OM Net
Siooo tllsh l.nw cios' rhrc
1 Leh Val (is. 101 101 101 Vi
2 do gen Is 71s 71' 71's-f- ',o
J Lib Bouds
3'ns .... os.so os.so ns.so .00
J P.i gen 5s. 'JO'.; OO'i 0011 U
1 Phila. Elec
noi oo'-'. 00',-..
70k 70 70
01
01 a,
Olvs--
with J19 000
MINING STOCKS
TONOPAIl &TOCKS
nid
A t
I LIBERTY BONDS
All Issues
:' Bought and Sold
$50 $100 500 1000
Graham, Parsons &&
435 Cheatnut Street
Philadelpbim
Jarfcnon Ilaltlt fnfk Trie
. Wrbbter C oal d t okn tntmiat"
: llarwonU tzirctrlc ( oniiMii Ifit
Johnbtovtii Trjiilnii to. Itftc.
! Vortlund 1(9- Mclit .V I'nrr
j rhliada. & I'.rli' It. It i.nrril
Indianapolis Nortliirn rracflon
Waterloo. Cedar t'alN Northern
.Johni'toMii rnfcenjr ltmlv tis
Kele Klea-trlr Motor fn lnt
United dan & i;ir, ( nt 4 om. A 111 pf Mo k
, Samuel K. Phillips & Co.
3fftnbers riilludelililn Moel, Kxrhange.
, 307 ( heMnut (.
Tonopah .
DIVIDE
'Ben Hur
, Brouih Dlv
Divide Extension
Dlv S:-nd
Di" Con
Dividend
I Kant Dlv . ...
1 Hasbrouck Dlv .
Uleli Dlv . . .
I IWert Dlv . .
' Itcno Dlv .
HobPtta
Silver Kinff .
Tonopah Dlv
670CKS
01 (li
:n rs
is J!
to i.x
10 i-.
07 01
J I vs
2 -A
10 12
OS e.s
os ns
21 'jr.
01) 05
30 in
i 1
03 OX
on os
i ss
mi nu
0.X 07
2.'. ?.-
Tn ("-,
on ojj
07 0'i
3i an
10 25
ID is
10 20
31 ill)
The foreign exchanges were again re-
actiouarv in the first hour or two, sight I
bills on London, Paris, Uerhn and Itnme
OOLDI'inLD STOCKS
I
r.s wis
,X 104J I
,-n llll'l I
, iota
Ss iw
ns in
.'. to:
Ah I II til
Is If) 'II I
r in, i 1
Atlanta
Hiu nun . . .
. . , t . I ..... t X1UU111 . .
recenmg to new iovv record levels. iiiis(. o v
course may be presumed to reflect in a Comb rtac . .
i measure the seeming obduracy of both I ri?2 r n " '
.parties n the subject of treaty riser- Daisy ... . . .
vntioiis, I Hnrenoe
The latest development on that score rJSidfle'd Mere '. '
, beinr' the announcement from Wash- laoid Development
1 mgton that Senator Ll'odge refueil , s1-6".' "f."1?
;, ui,,i. .-. i. ...... ..,..,., .lumoo Axienaion
I'.'iui uiuun lu louriiivi ttu -uiiii 'iiill?i'
aaectius reservations on article A as
these reservations now stood.
The United States stepl report for
the last quarter of 1010, and in a
sense for the whole jear, was antici
pated with the grentest interest sjhpp
the report will embody the effects of
the steel strike on earnings of that iur.i Mother
vacu
Kva.ns
I,one .star
uro
It..d Jlllla
WIlT 1'lelf
is'pearhead .
02
02
OS
02
03
Ol
01
02
an
is
on
Hi
113
(1
OJ
03
01
02
01
01
NEW YORK STOCK EXCHANGE TRANSACTIONS
to
to
Dlv.
Sale In
.too
,100 6
t00 fi
100
100
1S0O
100
1700
aooo
1700
.1000
100
ttoo
2000
5000
noo
2700
.100
8G00
.'0
1200
lfcon
ice
moo
too
200
700
too
0'io
1000
16290
100 7
12)0
tioo t
200
son
.V)0 (i
100 i
100 7
410 10
73.700 3.50
100 7
.100
2C0 1
400 h
100
COO
200 S
10000 A
100 7
100 b
700 7
ion
800
2100
2100
SCO
aoo
2100
r.oo
fiion
100
too
200
200
200
100
100
200
200
soo
1000
700
m.
300
700
moo
500
1000
1100
100
7, '.00
21700
soo
190
too
3700
300
1100
700
100
100
200
200
too
2100
2100
isoo
100
too
100
9700
:ioo
1990
3500
200
3000
200
300
1200
100
100
200
20 0
2200
100
coo
D100
2S0O
too
5900
17300
1200
100
S00
200
2100
,',500
4000
too
100
00
High
Advanco Rumoly . .. 4IH
Advance ttumely pf.. 70 Vt
AJa.x Kubber 81
Alaska Gold Mines ... 1H
Alaska Juneau O M , . 2
Allla-Chalmers ISM
Am Atrrlo Chom 02W
Am Bosch Magneto ..ltntt
Am Can SU5
Am Car & Vdy . . ,.1301i
Am Drue 'Syn 13 Si
Am l'.xpress os
Am Hldo Ai Leather., 20)5
Am Hide & Loath pf..U8
Am Internat Corp ...110
A m-La Franco Unglno H
Am Linseed 8S?a
Am Linseed pf SS'i
Am Locomotlvo 10014
Am Ivooomotlvo pf ..jl0S?i
Am Ship & Commerce. 26
Am Smelt & Rcf ... C8H
Am Smelt & ltef pf . . OOU
Am Steel Foundries .. l5?i
Am Steel Fdrlea pf . . as
Am Sugar Kef 1301'j
Am Sumatra Tob . . 31
Am Sumatra Tob pf.. 011J
Am Tel A: Tel 97 V,
Am Tob Sen temp ctfs. CS
Am Woolen 151
Am Woolen pf 10496
Am Writing- Paper pf. SSt'e
Anaconda Copper .... 62'4
Ann Arbor ... . 10 S
Asro I'ry Goods . 62
Atch Top & Santa Ke, 83'
Atcli Top & S F pf . . . 70 4
Atlanttu Coast Lille . . SOU
Atl Gulf & W I S S...1C3?4
Locomotive. .118
101
Baldwin
Baldwin Loco n(
Baltimore & Ohio .... 32
Baltimore. & Ohio pf . . 43
Barrett 130
Ratopllaa Mining . V
Bethlehem Motora . . 29
Bethlehem Steel . ... 9t?i
Bethlehem Steel B . . U71-;
Bethlehem Steel "''o.. 100
Bethlehem Stl So pf..U3
Brown Shoe 100
Burns Bros 100'i
Butto fc'Supcrlor cop. js'Sj
Canadian Pacific. . . .128.1,
fi California Packing . . 84
California Petroleum . 42
7 California Petrol pf. . . M
a Central Leather ... O.l
f'erro do Pasco Cop .. "0(4
S Chandler Motors ....134'
4 CheEapeaku & Ohio . 35 W
r, Chi Gt Western pf . . '!
Chi Mil & St Paul 36t
T Chi & Northwestern IS5''
Chi Mil & St Paul pt. 51 U
R Chi Pneumatic Tool . . 95
7 Chi n I &Paa T"c Pt.. "0
3 Cli!uo Copper 37'1.
Chllo Copper . . . . 1SJ
Coca-Cola 38
I Col Graphophono . . W J
3 Colorado Fuel &; Iron. 12
4 Columb Gas & Elec . . C
I Comp-Tab Record .. . 51
I Continental Candy . . -31i
Con Interstate Cal M. . 10U
7 Consolidated Cigar ... 58
Consolidated Gas .... S3
Consolidated Textile . 30
Corn Products rwer pf.101
Corn Products Rcf... 8S3i
Crucible Steel 2331;.
Cuba Ca.no Sugar pf . . SI
Cuban-Amer Sugar . 430
7 Crucible Steel pr . ,. . f
Cuba Can Sugar . . . . 51 '&
Denver & Rio G pf 12 'A
,i Imd'cott-Johnson ... 140
Cr.rlo "!'
Erie 1st pf 19i
Erie 2dpf WIS
3 Llk Horn Coal -S
3 Lll: Horn Coal pt 35
Federal Mln & Smelt. 12
8 PamoU3 Players-L ... S35
3 Freeport Texas ... 28
Flsk Rubber ... ... . '-W
2 Gaston Wms A XVls.. 17
6 General Cigar 1
8 General Electric .. ..168
.2 General Motors ..3031-4
General Motora pf . . S-'i
0 General Motora dob . . 81
C Goodrich B F 7!
-JGoodr'ch B 1" pf 100
1 Gt Northern Ore ctfs 38J4
7 Great Northern pf....
Greene Cananea Cop. 36
. Gulf States Steel .. 7S7i
A Ilartmun Corp Mit
4 Huckcll .1 Barker Car 03'5
MIECKLL.VNGOL'8
poration.
DEPOSITS FALL OFF
' rnoaro
rltona t,'nUU .
i ISdon
Ivodo .
Hill . .
Xcveda Rand .
1 Promntario . . . .
N"' ala Vonder
1 fx'uiJM Mln . .
White Cop.i .
ir-
02
20
in
0s
Important to
Income Tax Payers
TfAea on lutrntorv und rebuten at rno
Iraet Inrome for 1918 run l adjunteil
until Jan 2!.
TAX RI- PORT CO
phonei. WiHidlund 70'1. .1. Oeonlr 1108 M
NIGH
W
GRADE HIGH YIFLD
RAILROAD BONDS
LIST ON REQUEST
iMARTIN&CO.
Kill WALNUT ST.
Slight Improvement In Reserves of
Local Clearing House Institutions
The reeorve position of the local
Clearing House institutions was slight
Iv improved last week. The weekly
statement showed an increase of .$;IT0.
imo m the reserve account in the Ked
ral Resi-rvo Hank. At the same time
lubihtiea viore reduced in the contrac
tion of ST, 171,000 In individual de
piisits. The rxfess reserve, in conse
0'ienee ih raised SS.'o.OOO, liriuging
i he tntnl surpluH above legal require
mnts up to 5 1,100.000. Loans nud
discunts decreased $D1M,000.
Iii tails follow:
Jon 20, 50
' ir . 1702 0S3 OOO
2s.,i.i.niHi
12H.0OS.OH0
. 1 18.005.000
. fi33.SU. OOO
8.231.000
U
on,.o7. nno
GOVERNMENT BONDS
Iinama. noupon 2a, 1030.
Panama reentered 2s 103C,
I'Hiiama coupon 2. 1038...
Panama rejterod 2s 103S
I'dnama loupon 3b lt'01.
Panama registered 3s. 1061
Philippine 4s 1081
Phillunlin 10XX ...
Philippine e. 1910
H uov rnupon 2.
Si to r pluered
S Jov couuon 4s,
1930 .
Jh tnno.
1023
nid
1011
too
mo
ion
8S
St
30
III)
no
lomi
ionf,
103.
nn
07
03
ox
on;
03
ii.i
33
13
01
10
(I.
OS
Ol
or.
113
ot
till
oo
1'i
18
no4
01
23
l4
t.i
HI
A'ed
101
101
101
lot
no
no
n.x
n,x
!!.'.
mi
ion
100',
Hnmertaks Mining . C0J5
Illinois Central s
Inspiration Con Cop . oGU
Interboro Con Cotp 4
Inl Harvecter 130
Int Mer Marine 4.18
Iut Mer Marino pf 9S"
Intl Mot Truck :d pf. on
International Nickel. 25
International Paper .. S3H
Iron Products Corp .. 30'i
Kansaa Citv So pf.. .46
Kelly-hpg Tiro 134 Vi
Kelrcv XVTiccl 80
Kenne.ott Copper 30
Kejslono Tiro & Rub. . 3614
Lac-Uawnnmk Steel ... SS'j
I...ke r.rio i W p( , .17
Tjoo Rubber & Tiro . . 35
Liggett & Myers rts.. 15
Low
41
70 H
80 J5
2
18 4
02 !4
118H
53 a
13714
1314
08
26
110
167"-,
14
8414
98
98
105t
25 ?4
0714
99J
45
S3
13COi
00
91(4
97
60 S-4
IDH
10494
56
61
10 i
61
S3
63 K
SOU
16114
113
101
31 0
45 .
12814
t',4
37 'i
89a
s.
100
113
100
106'4
27'4
127
82
4114
7'!-?4
01 U
56
133!',
53 1 '4
2t
36ai
185
5114
93
70
35! i
37
51
OH
62
54
12
18
58
M
23
101
S334
HI
"thi
135
M
50 '4
13?i
137
12 H
I9I4
1 !i
23
3.i
12
82
27
41
16)4
71
167"4
293 V-
SI
78
77'4
99!'g
38
78
33 !4
77'i
104
59 !j
60
SSJa
56
1
129
39 3
07
69
21',
8t!s
19'4
16
133
80
30 ',4
33 !'
S3U
17
35
13
Today'i Net
uioeo (jure.
41
7014
8t 1?-
3
4n?
03 !4
lt'4
5414
139U
IH,
9S
2614
113
109?
11 -
81-i-
98?4
99?4
105
2534
C8J4
a
45 93
136M
91 I-9t!4-9714
67 !4
15314
1046
5S14
61J4
10 !4
61?4-
83-70U-S9U-163
117 -I
101
31
45
120
VA
29
891'c
07
100 4-
113
100
106IJ-
2715
127 -
81
H!4-
71
91H
56
134 !4
55 U
21 -30
185 -31
95 -70
37'j
51 !4
42
62
54
12 '4 -I
IS
53 -(-S3
-30
101 -85'fe-f-22914
i
93
50 -12-110
1314 r
tn n
13 !i
i
H
94
i
V
J4
1
1
3J4
i
74
H
3
314
154
1
3
!4
!i
74
1!4
Dlv.
Sale In f
100 7
800 2
11)0
100 7
100
400 4
500
100
29100 10
200 3
13100 1.20
2400 4
500
800
206
100 3
310
100 7
100
500
4S0O
100 1,50
110O
400
100
400
400
100
200
1700
300
2200
10
5
.50
200 3.50
114
V4i
11
141
!4I
1M
, ' I
!4 '
1 It '
' ,
Us !
S!4
'-4
10 I
12
82
2714-
43!-s
16
71
167!i
30314 81 -SI
-79
78
36
7S!4
104 4.
60 ', -1
60
39 i-
56
4
130
41
98
B9 -
25
84J4
50 -
16
133
60
3014
35
83J4
17
35
15
I 14
U4
1
7!4
!4
!4
17i
Vi
!4
la I
.if 1
1'4
74
74
174
3700 .50
300
290 5
1400
100 3
300 5
600
8800 6
1200
200 3
200
3400 3
200
37D0
SOO
70 B
200 5
1700 3
770,0
230 8
4100
200 S
30 5
100 1
;ion a
090 8
1 100 5
leoo 8
40(1 2
300 1
790
200 4
33890 6
13100 8.70
100 1
1400
H330
u'joo
200
ion a
1900
8700
3600 6
2300 6
100
100 5
1200 4
37300 7
200 5
SCO 3
200
7C0
3400 10
500
100
2500
100 6
6400
100 5
200 I
2o00
P)00 10
500 4
100 7'
200 3.50
230 10
700
1700
14S00 3
300
100 5
300
3100 'i
4C00 8
1U0O 8
8100 8
100' 8
tOO
3S300 5
200 7
600 6
2)0
1230
1600 4
230 6
100 8
200
20O
500
100
100 4
200 7
000 1
4C0 5
100
1800 4
16000 1
4300
Liggett A Mycra pf
Locvvo Co .. ., 31
Loft Corp 2314
Loulsvllla & Najihvllto.tOO'4
Looso-Wllca Biscuit .. 07
Mackay Cos pf 61
Martin Parry 29
Maxwell Motor 31
Mexican Petroleum . .80274
Miami Copper ',23?
Mlddlo States Corp ... 4014
Slldvale Steel & Ord.. 50J4
Minn & St I. new.... 1374
MlFHOurl Pacific ...... 23
Missouri Pacific pf 40 54
Natlonat Acmo , 38
J'at Anlllno & Chcm.. 6514
Xatlonal Bit-cult1 pf.. 11
Xat Conduit A Cable . 9
Nat Enam & Stamp. . 82
National Lead 84
Nevada Con Copper . , 16
New York Air Brake .110
New York Central ... 08 !4
Now York Dock pf . . . . 55
New York N II & II . . 2674
New Or Tex & Mcx . . 4274
Niagara Power pf. ..103
North American ... . 56J
Northern Pacldo 78!4
Nova Scotia S & C ... 72
Ohio Cities Gni 49
Ohio Fuel Supply .... 50 74
Okla Prod & Rcf 074
Ontario Silver Mln... 014
OJa Elevator 135
Otla Steel 3774
Owens Bottling Mach . 5974
Pacltlo Gaa fi Kloo ... 37 !4
Pacific Tel & Tel .... 4314
Pan-Anier Petrol & T 90
Pan-Amor (B) 92
Parish & Bingham ... 1314
Penney J C pf . . . . 01
Pennsylvania P. It . . . 4314
Pcnu Seaboard Steel . . 33
Peoples Gas Chicago. . 4074
Peru Marqiletto 29(4
BPcro Marquotto pt . . . 4314
Peru Marrj prior 1C .. uaVi
Philadelphia Co . ..41
Pierce-Arrow Motor .. 70 74
Picrcc-Arrow Mot pf. .105
Pierce Oil 20
Plerca Oil pf 94 ,
Pittsburgh Coal of Pa 72H
Pond Creek Coal .... 23" 4
Prersed Steel Car .... 1812
Pullman 1 5
Puuta. Alcgro Sugar .. 90,
Railway Steel Spnun. .10014
Bay Consolidated Cop. 2174
Heading 5H
Remington Tjpewrlt.. 89
Repub Motor Truck .. 3214
KcpubllD Iron & Steel. Il3
Itojal Dutch N Y ....110
St Joseph Lead 13
St L San l'Tanc.tcu.. 18H
Sa ago Arms
taon Motor
Seaboard Air Lino .
Seara-Roebuek . ..
Shell T.-ana Trading
Jlnclalr Oil rts ...
S10E3 Sheff S & I . .
Soutlurn Facltlij . . .
Southern Railway .
Southern Railway pt
Stromberc Carb . . .
Studebaltcr
Stuls Motor
Superior Steel
Third Avenue
Turn Cop & Cliem .
Texas Co
Tca3 & Pacific . . .
Tidewater Oil rta ..
Tobacco Products . .
Tobjcco Products pf,. 10114
Trantcontnental Oil . 10
Transuo & "vVma Steel. 6374
Tw In City R T , .
Union Oil
L'liion Paclllo
United Alloy Steel
United Drug . .
United Drup lt,t pt
United Fruit
Un Ity Investment
Lit Ry Invest pC
llleh. Low
108 J, 10354
1 Today's Not
(Jiote uncoi
15
.. 19 ft
.. 71,
. 3.5
. . !4
. . 43!4
.. S24
..100 Vt
. 2114
. 54 W
. 70
. . tos 74
. . KA
. . 40
. . 11
. 13
..204?a
. . 3714
.. ai',4
01
31 Is
123
43
its -
5t',s
105 'i
1374
23 U
United Retail Stores.. S9!4
I'SCU' & I''dy 2214
USCIl'4 Kdy pt .. 5114
I! S Express 30 J4
U S Food Products .. 6974
U S Ind Alcohol 109
U S IleHlty i: Imp.. 53
U S Rubber 17
V H Rubber 1st pf . ,.11
U S Smelt & Rcf 70 74
U S Steel 06
U S Steel pt I'574
Utah Copper '6
L'tau See JO
Vanadium Corp 774
Va-Curollna Cliem ... 6674
Va Iron Coal . Coke. . 7S!4
Va-Car Chcm pf . . . .111
Wabash pf "
We!l3 Targo Exp ... 5214
Western Maryland ... H9
Wotern Pacific -374
Western Pacinc pf ... 'O
Western Union Tel ... 8674
Westinghoubo E & M. 53 i
Wilson & Co 3374
Wheeling & L Erie... H?a
W'.vitc Motor 61 74
Willys-Overland . -T
Worthlngton I'ump .. 03
30M
21
10074
07
64
3974
31
105
3374
74
40J4
l74
374
40
ns
634
11
9
81
8374
16
106
6874
55
3674
42
103
56 !t
78
7t
46
50 74
0 7
0 74
135
3074
3D ;,
57
42
02
8074
12
93
43
3274
33H
2374
48 Vi
65 74
40!4
C07
105
18 74
, ni
03
2374
87
11.1
no; a
9
21
75
80
63
Ht?i
10874
15
is 74
13
1K3J
7
225
847
1274
79)4
2174
5174
T-'ro
190 74
126
47
11
H
201
26 i 4
2174
00 !4
lot!,
26
6274
35
33
l''l
40
113
51
101 !4
1314
281a
86H
s'I
5174
39 !4
0,5,1.2
100
5314
131 ',4
114
70
105!i
HI
75!4
7b
4)
65 Ji
78 ',4
111
22
'."'4
11
2T4
(,0
8614
53
55
1154
59
27J4
3274
10874
3QH
23 100 74
07
61
2974
31
200
50
1315
25
40 -38
0574-
1
0 82
81
16
Ji
94
VA
74
74
"74
1
74
74
74
74
H
74
H
274
1
74
107 174
68J4 74
55
2074
42
103
. 66J4
7874
73
48
50 74
9
074
135
3714
50J4
3774
42 -
0574
02
4374
9.1
43 -33
39!4
2914
4814 -05
74-40
70J4 3J4
105 14
1974
04
6254- 74
2314- !a
9374
115
00 74
00J4
2174 J
7574i S3 -r
5314
11391
U0 -1
1
1
74
A
3J4
14
74
7-
3K
174
1
2 74
174
74
74
14
U
14
I
VA
1
HEAVY SELLING MOVEMENT
IN RAPID TRANSIT STOCK
Price Forced Under '25 by Heavy Pressure Olhcr r,0wi
' Little Changed
The weakness of Philadelphia Rapid
Transit wns. the outstanding feature of
the local market. Tho stock was under
unusually heavy selllug pressure during
the morning, wheu the price wa forced
down ,$l.a"5 to 2191. The volume of
dealings were unduly large for this
stock, and about the only plausible ex
planation for the liquidation was found
in the report of the Muyor's decision
to rctaiu the present director of transit.
An impression had prevailed in market
circles n new director would bo chosen
who would be more friendly to the
Rapid Transit interests.
The weakness of the stock was loval
ized, being virtually without effect upon
the other local shares, ns well ns the
underlying companies of tho Rapid
Transit s.vstnn: Union Trnction was
pegged at .'Hi. Nothing was done in the
others.
In the general list, the trading was
without feuture of iuterest and most of
the room trading contingent was ap
parently more Interested iu the dec
tloticcring for ,the new ofllccrs thnu iu
the market itself. The volume of busi
ness continued of the same small til
meusions und was productive of the
same mixture of narrow-price clinnges.
The only exception from the usunl
program of fraction swapping was sup
plied by the Philadelphia National
Bank wurrunts. These after openlug So
higher at 100, dropped to 151, a net
loss of S4 from Saturday's finul quo
tation. The Alliance Insurance Coin-
warrants, on the other Ua
transactions, improved u" ,er
icricpu Ons scored .t.l.8H.
pany warrants,
sman tr
American Ons score ih. ? .
Win of 1, advancing to 'o"
odd lots. Philadelphia Eh.??! BBI"'
stendv nt ".-.. t.i '. k'wfle .
steady nt 25. Urn ted riJii c '!
LCWff.SEffl?a5
Battery 'lost V VTi.idlnT. 8lKlt
was ):
Phil!
lower
adelphla and AVcstcrn
at 0.
The reserve position of n, ,
Hearing house .ntltutle?ni wa,,11
improved last week! The Z
crvo was raised $853,000. bffi3 If'
surplus above legal Vco ire!iD.5 tb
1.10.000. r.oan, nnd 3fcD'8 to
cut down $021,000. alFCl5unls vtttj
In the Oninlnn nt il, -n! .. .
all the leading loaning lnrttutlSL,aa
drastic Increase in th T Federal II .! """
rediscount rate nn f."?'.'em
will have a favonlplc effect. "t'vvlFl"-'
suit ill a wholesome ileflnTiL ,'J1 -
? f,,"Bl50?Lmff5! "rtit'o. IZ
account;. '" lua" out m j
"Whilo it mHV omit .. ..
certain to result fi a much Kf.1'
banking situation, from whl,h h,f Eleri
in general will mprove? nthSl'
ed in tt eSn fsl iZ L ." L?; nj.fi
the dangerous inflation in others of i.'
essential character for the pcrSr,. i"1
of the country's prosperity PCm"at'-
CORN TURNED HEAVY
AFTER STRONG START
Market Under Prossure Because
of Drop in Exchange and
Increased Movement
13
19V4
7 -223
-I-86J4
13'4
si ;,
100
76
101
123
19
14 -UJ4-
203 74
37 i J
2114 01
101!,
'- -r
0214
35 -i-31
14-
133 -49
113
31 -
135 !4 -
13 !4
23 K
74
5114
30 J4
6314 X
108)4
33
126J4
111
70
100(4
11514
7574
10
7J4-
0!4 4
7874-
111
22
23!4
60 8674
5374
35!4
ll
61
28 -
0014
GRAIN nCLT WEATItKIt FORECAST
ChlesiRO. Jan. 2n Illinois. Mtsaojrl,
Jtlmesota, faouth DaVota, Iowa, No
br.ifka an'l Konsau Partlv rloudr to
nlslit mirt Tuesday, much colder Tuf
dav. Wlncnneln Untettleil tonluit.
warmer fouthneft; Tuesday, rartlv "joiniy
nnd much colder. North Dakota and Mon
tana Generally fair tonlslit and Ture
day. cold wav. Aemln Unsfttlpd and
mill n colder tonlpht and Tucsdav; nrob
ubly ftnuw Tuosda.
t'lilrago, Jon. 20. Declines in wheat
and rye, auother crash iu foreign ex
change and an increase in movement
2
2!
374 3
1
214
M4
M4
1a
li
la
Jbjcaufcd pressure in corn today, and the
''j market turned heavy after it had
started stronger under the lead of Jan
uary. At first there was a good demand,
which was encouraged by dispatches
from Washington, indicating that
American concerns were pressing the
State Department at Washington to
trade with the Russian soviet govern
ment and also by an advance in hogs,
A leading clovatoj and commission
house purchased, but offerings soon en
larged. Renewed talk about the cost of liv-
iug coming down aud the curtailment
of bank loans to farmers on wheat,
curtailed the buying power. The opin
ion was expressed that the embargoes
by railroads to the eabt would be lifted
soon. Trading in the pit vvas not active.
Oats were dull und uninteresting, and"1??!
the market sagged after displaying Vie"
steadiness. t,ariy more was contin
ued bujing by commission houses with
eastern eunuecious, and offerings were
limited.
Later, selling by local operators, in
fluenced by the declines iu rye, corn
and wheat, brought about nn easier
toue. No bidding was reported by ex
norlers. the eastern shipping situation
being so deplorable and the western car
supply so inadequate tnat it was deemed
!..n.llr.l,lA i rt unl.i f.i.lLA. ,...n,m!l
3 74
74
3 74
74
1!4
174
'
!4
EXCHANGE AT NEW LOWS
DROP COAL CO. MERGER
1' m fnm hinku
Imi k d'l'eeMtH
' I'll d' t'utllf s .
n" doposlte
I e Willi I II
i gal dennaltorieb
reerrune
051 000
B 1 1 D "On
7 015 one.
T.47I.00O
7 306 eon
304 OOO
i irh
Ttial
I
Bonds for Investment
Circular ' i rtenueel
The Naliona! City Company
Cprrponfti Offices In over 10 ciltn
rhiladelphl" 11S1 Cheatnul H(,
Atlaotl. tin 1235 Uoardtralk
RAILROAD EARNINQ6
a KArtAUIs J'M-llTJlt,
"ir
'teaJ
'Jan
1020
ISL8J7 000
lnor
MliCH
00
vaulia 1.1(131000
..serve held . 1T.73,000
renulrert .. tl1.H23.000
II. t r re.mlr- d . 3.fi2.1,OfiO
mi viBuna I'Counvrj ststhai
I, .., n h. II . lit 007 000 '1217 000
I ,-.. rerro 3.1H8.000 737 (100
u:tT i'OMf.Nirs not Mnjinuts
lir.SliltVK hYhTf.Jl
t'uervo held .. 13,770 000 10? 000
tees reserve . . 102.000 lit) 1100
tr.rreaie
In addition to the riepntlts above there
wero thle week jr3 000.000 government de
posits aalnat wliirh no reserve la required.
BANK CLEARINGS
Uink clearinvs today compared wth cor
reaDondtnsr day lapt year
jui-o
373 oooi tiatinns
33.1 OOO
IBs OflO
ItlS.OCe'
Boston ...
Now York.
Chicago
IMItlmoto
1D1Q
S44.011.140 1.-..1 lill eol
MJ5.4.21!7 400 337.038
sii,tr7,n34
13,931.0311
Negotiations Between Newton and
National lee Companies Terminated
Ktufk holders of tho Ocorge I. New
ton I'ual Co. have been advised by the
stockholders' committrc that the nego-
with H. M. Schntzkin and the
National Ice and Coal Co.. under tho
'terms of which Newton Coal stock was
i deposited with the 0 Irani Trust Co.
huve been terminated.
It was foiiuii impossible to consum
mate the transaction except bv the In
clusion of ronditioiis which the board
of directors and co,'umitte did not find
jii.tilled in recommenillug.
Tlie committee states that other
pluns are under consideration which
mu develop to such n point that thej
ran be submitted to the stockholders
i within a reasonablo tlmo.
The Glrard Trust Co. will return
lock certificates on surrender of de-
loslt receipts, nut stocitnoiiierB ar r,
German Mark Falls to 1.02 Cents.
Sterling at 3.59'8
Now Yiirli, .Ian 211. Rates on
French. Italian nud fierman eschunge
dropped to new low level-, in the local
market todu.v. Demand bills on the
pound sterling were quoted at $."..110. off
2j cents from taturdny close and n
ntiitrter of one cent above the record
low. Tranc checks were tpioled at the
rate of 12 27 for tli dollar and lire
checks at the rate of 14.12. The Ger
man mark, worth between 2.. to 24
cento before the war, was qnoted toduj
ill 1.00 cents.
Demand sterling later dropped to
$.'.tj,i, a ne,y low 1'rano cheeks
dropped five centimes from the opening
quotation to a now low of 12. "2 and lire
cheeks went down to 1111. Marks de
clined to 1.02 cents.
Other quotations were: Swiss cables
fi.,'13. Checks .". '.; guilder cables 37,
checks flTi ; pesetas cables LS.fiO,
checks 1S..V); Stockholm cables 20.2.".
checks 20.10; Christianla cables 18.10.
checks 18.2.1; Copenhagen cables 1(1. G.1,
checks 10. .10; RVlgian cables 12,r0,
checks 12.52; Austrian .02.
In the lute afternoon sterling estab
lished a new low record nt H.,'91.4 for
demand and .'l..rnTs for cables. The
market continued ver weak. l'ranc
tables were 12.10. checks 12. 12Vj ; lire
cables 14. .10, checks 11.12; murk cable-
1.0(5; Austrian, .20.
NEW YORK COFFEE MARKET
Now Yorlt, .fan. 2(5. The local cof
fee market was lower this morning in
sjmpathy with the rather poor showing
in Brazil as noted in the official cables
to the exchange. The market was dull
right after the call, with bids li to 5
points below initial figures.
There were rumors hero last week
Ihat there hail been a reduction iu the
stock ot coffee nl Rio, which did tint
show in the official figures. In response
to a requcht for information nn this
point ii cable was received by a local
11 rm toda.v stating that street talk in
Uio placed the stock at only 200,000
bags at a time when the official cubic
showed about 200,000 bags.
March
May
.July
September
Tet't
Cloe
15 7.113 70
l(Ul4i'ln 01
111 14JMB K
15 S3 ft lftftl
ir. ns
10 02
IS 12
IB S3
11
a in
1.1 11
1.1 OJ
1 12
K, S3
Discount Rates
gives rates for all
titteen-
o period
Reserve Banks'
The tirht column
neriods up to and including a
dav maturity, the second for
of siitcen to ninety uajs. inc tinru
and fourth columns give the rates for
discounts of collateral loans secured by
government bonds or notes.
s.oin'i paner iiov l paper
id 10 to tin
day a
MONEY-LENDING RATES
NKW YORK Money on call opened
at 7 per cent; high, 10; low, 7; last,
10; closed, 1011; ruling rate, 7 per
cnt. , ,, ,
A moderate amount of call money 'is
reported coming in, but time fuuds arc
S per tout bid, with no money offered.
Prime bank acceptances show irrcgu
Taritv aud conUicting quotations.
Prime member sisty and ninety-day
bills are .1 iiml OVj per cent; short
bills, ,1ai and .1, call lonns tin accept
ances .1 per cent, and prime mercantile
paper 15 per cent,
I'llIIiiMIKIJ'HIA Call. 0 per cent;
time, (1 per cent ; commercial paper,
three to si months, t! per cent.
LONDON Money is quoted at H
tier cent. Discount rates, short bills.
5 per cent; three-month bills, 5 per
cent.
lCo.Roa.sss
in ltd" ft.n
Crude Oil at New Top Price
1'iUsbursh. I.. -Ian. 2(5.- Pennsyl
vania crude oil was advanced 20 ceuts
a barrel, to $5.2.1, by tho principal pur
chasing agencies here today. This is tho
highest quotation mr tins graon ever
posted in the Pittsburgh market, but
it was sain last wees tuui on ohu neen
commanding that price for some time,
as purchasers were williugly jiuying
bonus. Other grades of crude quoted
in this market were unchanged.
Prices Steady on Paris Bourse
Paris, Jan. 26, Frit en were steady
on the Bourse today. Three per cent
rentes wero quoted at CO francs 70 cen
times; exchange on London. 44 francs
0.1 centimes; 0 per cent loan, 88 francs
15 til tnOO
days daa
Ponton . . 0
New Vork . U
Philadelphia. .... 6 -
Richmond . .. K 4K
Cleveland 4 1 i
Atlanta .. .. 4
Chicago ti 0
ft. IX'Uf" .. 1'-
Minneapolis i 9
Knnaai Cits , r.i 5'4
Dalian ...... n
tlan I'ranclsco . I' !
days
'4
ni,
4 '4
'4
5 4 s
r
4
S
'.V,
S
'
4
Rotes on outstanding certificates of
indebtedness continue unchanged ut lai
per cent.
CHICAGO BUTTER AND EGGS
Jrt - UVTTClt tutUr.
SENTIMENT IN C0TTC
AGAINST THE MARKE?'
Ovorsold Condition Rofloctod i
25-Point Rally When
Shorts Cover
New York. Jan
temperatures were r:
ton belt this mnrnlne
Smith, 10: Oklahoma
s.,i;,v -icK ana .vicmohl. 3n. f,,. .-;
Atlanta nnd Wllrrlnelon. 8.- vi1
Ld ."Ki-.34.: ShrSveport. 'Chib
sikaneaiDn,
tonlo,
con an
tanooza
Abllena and Fen
ana rjasavllia, ;.
and
ta ,,t.,..r
Monttromery and Savannah US: OauVS'
j". i.ierioin ana inomanvl e, 45 n,
Orloann. 40; PeiiBacola. 4B, JackcemSii;
". an'i ;ia-i.M. lis. There va. 01 i.V.
precipitation at Bavonnalu .1
01 at Charlefton: 10 it ,
Of, nt Pennenla fta .. '
Allllnlu t Q .1, HrMn , nn .' ... .
and S.10 at Montgomery '" " Al"nu;
nt preclplti
Jneksonvllle
IVllmlnRton.
-cw lorn, Jan. -'U. The cottea.
market developed some irregularity U
the early afternoon, selling off to S5,
for March on less favorable treatv newi
from Washington, only to rally several
points on covering and buying by sev
eral of the local and southwestern spot
nrms.
bentiment continued against the
market, so far as local traders wen
concerned, but there was no particular
pressure and the undertone held about
steady.
Toward mid-nftcrnoon a locally over
sold condition was reflected in a rally
of 23 points when shorts attempted to
cover.
Receipts of cotton at tbe ports for
tho day are estimated at SO.OOO bales,
compared with 28,348 bales last wetl
and 1-I,U76 bales last year.
11.00 130
March
Dec. .
Did
Sat. Today's
clone. open
. 3R.M 38.0.1
. 31.31! 34.07
. ai.sn .12,08
. 30 Of) 20,1)4
2D30 20.45
51 1
i. nt n. m o. ra
31.00 MS 0.1 34 Ml
31.13 3110 3(57
32.13 32 10 32.21 1
inadvisable to make
ments at thy moment.
further comiuit-
LIVESTOCK QUOTATIONS
riiteiio). Jan. 26. HQOS neeclots.
0 head Slow, hlcher. Hulk. IIS.BOit!
ton. $10: heavy. J1.1.40'S'11.R5: medium. I
lift.flftwift.DO. light 115 6nWH: light HthU,
!.-. iii
emooth
tu:s0
Leading; futures ranged as follow 3
Corn, (new delivers)
upen tntrn L.ovv
1 4Hi 1.44'
Sat
1 411
1,31
1 33'i
7
Jan
May .
juiy .
oats
May
Julv . . .
Pork
Tan
May .. .
t,ara
May
July
mos
May ....
juiy .......
jjia. tasiico.
l.1 1 31S
1 33'5 1.32V.
Close (.lose
1.4.1 11.41
l.SJVj 1,30
l.Mh . .
sr.'i
"tl
S2'i
7oU
S3
75s,
S3S
7G
3',i 1.1 30.1.
1. 30.30 -30.2.1
24. .1.1
21.62
20. SO
21.. 1.1
21.8.1
20 S2
21 20
21.2.1
21.0,1
20.R.1
20.07
21.2.1
.'1.3.1
20.07
20.07
311.30
2.1. B0
t24.r.O
lll.f'0
20.80
No Change in Refined Sugars
New Yorlt, .Inn. 20. The refined
sugar market remains practically un
phonged. Arbuckle Itrothcrs arc mak
ing the February allotments of fine
granulated and the soft grades nt 10c.
The American and National compnuies
continue to quote fine granulated at lilc,
less 2 jier cent for cnsli. The other
companies continue withdrawn from the
markej.
ilo3rl.V73: heavy tmcklnr cows.
Ill 3l.i.!.'A: cacklne sows, rouah,
14 rtiiri tin 7.165 14 7K
CATTLl; UeeelDle. lft.OOO head Stroni
Deet oteera. medium and Iteavy choice and
Jrlmo 110 il3 ft' IS 50: medium and ooi
11 75rifl.05 common. 10.50P11 IS, 1 rht
vveliht. mod nnd choice, its 35317 21; com-
I mo-, and rrtdluin. invia.KS: ru-.ir-r
tie, belter-. !75ifl4: cowa. ln.7531211:
I eunnern nnrl tittera f .1 lOftf A 7.1. eal eLlVtl.
fl5.703.10 25. feeder eleere, 181"S):I
stoeker eteers, j7.cotfii
Htfinr-p n.,ini, snon sirf Stn
Lambs. J19iI-0.8.-i. culls and common, ill Hi
(tf IS. .111, ewes mlluin cooa nu enoin,
!10.r,0S'lo; culls und common, isjovio.
Ill l.hn.rl. .tun PA CATTT.-! RettiDlj. I
700 hesd Hlfthor Steera. 115 506H.I
heifers Sll12: cows. JOS 10.50,
CALVES Receipts. 201) held. Mini.
I Top. 123. , ... , ..
iu no "iiin r.0: heav-v sorkrs. I1H I
17.25: lleV: forkers and pies 110.90(511. I
SIIEEP AND LAMBS necelpU, H
head IIIKher. top sneep. io, imp i..u
I2V.
r-a-t nnffalo. N. V Jan. 26-CATTLE--J
Tiximu .no head. Heavy steady: out--" I
25e 'hleher. Prime eteera. SIS.SOtJT! eiii-J-
P'M.Mra. Ji.naw 10: DucnCr;, ...;
?owV. ioiu.1 bolls' loeio.so: VtecWJ
..i'ij..i lion?!, frerh roi inl I
Sr.Vln.ree.. eteady. SO 50ff 17 f.0. Calv
celpts. 1200 head. Fifty cents liUrner,
"iloaS-Itecelpts, S80O li-ad Thlr-Ov 1
to 30 centt higher. Heavy, $10 1JH I
mixed, J1I1.70W lo.sn, loraew. y JY,-.
ll.rhl ,ln and tics. S17. roUatlB, jllSi'vrM
' If., otaira, 1012 50.
'Hi
WITH A
Liverpool Cotton
Uicrpool. Juu. 20. There waB a
fair inquiry for spot cotton toduy, with
pricps easier on the basis of n decline
of fifteen points for middling nt 27.Bld.
The sales weie (1000 bales. The re
ceipts were ."..") ,000 bales, including 20,
200 bales American. Futures were quiet
in the early dealings. .Spot prices were:
American, middling fair, .'i.'I.Oltl good
middling. 2!.70d : fully middllug.
28.7.r)d i middling, 27.fild : low middling,
good ordinary, 22, Old, nnd or-21.0111.
21.1KW
dinar'
Nevv Vork, Jan
Crumm. ,13'D'B4c.
HOHH eaaler, lterelpta
tll'i "UO.Ie. ordinary flmts
cases IncJuded Dlltlle
4(V) rasea Klrats,
Cl01c, ut murk
DIVIDENDS DECLARED
International
or oo cents
Petroleum Co
rhare, pavable
a dividend
1'ruru.ry 3
tn ..toe-k nf reenrd iJanuarv .11
Nevv Tork Shlpbulldltur Corporation
terly or 11 payable .Mulch 1 to stoc
record reuruary v
ouar.
:ii of
Tradeomen's National Extra Dividend
The Tradrsmen's National Bank has
declared a regular quarterly dividend of
-vis P'r cf.nt; ana an extra aiyioena oi 1
msit receipts, uui siocuuuuivib i,"' ri"";T"i "v ' r,i -. y ;"-; -va i,r wtvv ,t';,'i,"'i"1 '"l , y
uestetl by the committee not 4VJMM J5 nt,mi'. Th ,Io,lat wus W a Pr, cent, boh payable a'fcrirr J In ImuAwL '
yw jt 1,2 frsncd f32 ccUraes rtgl(,tered January 20 S d.
Charters Filed
Dover. Del., Jan. 20. Charters filed
here todcy were : The I'ostrade Stores,
Inc., to establish and couduct merchan
dise business of .ill kinds, $3,000,000 ;
Paul A. fvohmlu, Kdiuiind J. Dyer,
Hrooklyn, N. V. : Ruth Rryau, Jcrtey
Clt.v, N. J., incorporators. The Sho
shono Co., Inc., $5,000,000, to deal in
and with livestock of all kinds; Stew
art M, Seymour, New York; ilarry V.
Duvis. M. L. Rogers. Arilmingtou, Dej.,
iotorporators. Thp Rahia Co., cultiva
tion of land and ruislng of livestock,
S2.300.00U ; T. Ii, Croteau. Q. H.
Rlnske, S. 13, Dill, local, Wilmington,
Del , Incorporators.
BAR SILVER
Commercial bar silver was minted in
tbo New York market today at an
-oMsrit
mb& Bank &
North America
307. CHESTNUT vST., PHIliADELPHlA.
advance of,
C. at $1,111 an nntiM.
Upon Requcat, Will
Be Pleased to
Furnish an
Elucidation of the
War Revenue Law
of 1918
Ih Its Application to
Taxes Which Must
i i
Be Puid for the
Year 1919.
&
"T
.13.
n .
r"lV. ,,