iW
..V
t
-
EVENING PUBLIC
LEDGEB-'pHILADELPHIA; MONDAY, JANUARY 26 1920
U17
How To
Trade In
The Market
and other rules and
methods of interest to bus
iness men are given in our
free booklet, "The Invest,
ors and Traders Guide."
It tells:
The General Rules of
Trading.
How to Give a Broker
Instructions.
Brokers' Commission
Churges.
How to Endorse a Stock
Certificate.
How1 to Use Collateral in
Trading.
How to Group Investments.
The Deposit Requirements
for Carrying Stocks on
Account.
The Rights or StocI- and
Bond Holders, etc.
Written in simple lan
guage and easy examples
given. No obligation.
Edition limited. Call,
'phone or write at once.
Ask for No. T. U.-682
JONES & BAKER
SECURITIES
Widcncr Blag;., Philadelphia
Phanet Bill, Walnut 60G5
Keystone, Race 2290
Direct Private Wtrci
Offices in 8 Principal Cities
u
A tn Tel
1000 ,
4000 ,
1000
0000 ,
. 1000 .
14000
6000
3000
1000
laAm Tel
W nana
sooo
oooo
1000
8000
llflllll IIIIIIIMI1IIU
OHIO RANGER
OIL COMPANY
Send for special report de
scriptive of important nego
tiations just completed.
Traded in actively on Now
York Curb.
Bought Sold Quoted
Fairman & Company
DREXEL BLDG., PHILA.
Established 1902
Wade, Templeton & Co.
Wo item o H. Y. Storli Exchanga
iiiiiiiiii
iiiiiiiiiiiiiiiiiuii;
Pu Pont Chemical Preferred
REED A. MORGAN & CO.
WFST UND THUST DUJLD1NG
Members of tho Phila Mock Kxi-h
1'INAltCIAI.
fepoclul Meetings
CSSMITItK IS HEKi:il GIM'.V TO Till!
tJV Stockholders of tho A. II. Klrrtrlc Co.
Uiat a ypecial meeting of said Stockholders
vill b held at tho principal office of the said
company In tie city of Philadelphia, P.i .
rn Tuesday the 3d day of IVhruary A. 1).
1020. at 2 10 o'clock ii in., for tho purpose.
el considering and of voting for the adoption
or rejection of an agreement In writing for
the merger of the co porate right powers
framhlstH ind prh lieges of A U Klectric
Cd with and into these of Penn Central
Lltht and Power Co . which has been en
tered Into by the Directors of both cor
Watlons to the end that all the property,
rlarhta frsnchlbes and privileges now by law
vested In either of said co-poratiens, so
to be merged chaU be transferred to and
veited In Penn Central Light and Power
Co Into which the said m-rger It to be
made under the terms, stipulations and
conditions In tho said agreement set forth
nEHTHA MARX,
Secretary
Annual Meetings
K5 01 net or run. ujtxriiiA
TUUST COMPANY
Philadelphia January 21 l!IJu.
An Annual Meeting of the Stockholders of
thla Compinv will be held nt thilr office en
lutsda.v. lihruuo 10. 1030. at 1-' o'clock
pi and on the same day on election will be
leld between the hours of 12 u clock m and
1 o'clock p m . for Directors to serve dur
Irz thu ensuing vear.
H L. McCLOY. Secretary.
35 MERCHANTS' FUND
The Annual Meeting of the members
if this Society will be held on Tuesday.
January 27, 1020, at 11.16 o'clock a m , at
119 South Fourth street, Room 200
CHAS. J, THOMSON.
Secretary.
Dltldendu
Dividend Notice
The tregular 2 monthly dividend
to btockholdera of record February
1st lias been declared and will ba
paid on February 15th at the prin
cipal offlcos of the company, 139-141
South Broad Street, Philadelphia.
Checks will bo mailed.
Pcnn-Burkburnott Oil Co.
D. C. Srott. Treasurer
THE riTTSnUKOH AND w KST vikginia
uaii,n,ii iinu'dsy
PKCrBRKED DIVIDEND NUMB13H 11
Tf Uoa-d of Directors has declared a div
ide' I of one find nne.hnlf (1l&r.l n,p rnl
CV lift Preferred Htnk nt h Wnmnano rn-
, quarter ended December 01, IB 10, pay-
i"ie lenruur) 2S. 10X0, to stockholders of
rrecord at the close of business on Feb-
, b W 8UMMERKIEI.D. Secretary.
Pittsburgh, January 12, 1020
rronosalp
2f I'KOl'OSALS 10K OAbOMNE. OILS
t. t,"V0ii"i,",r7I".yr wnai ana Paints
JJranch Office of the Quartermaster General.
IJIrectar of Purchase and Storage, Regular
tuppl ea Division Munitions Building Wash.
Intion D C Sealed proposals will be re.
teljed hero until 10 a m February IS. JBjS
and then optnd for furnishing gasoline'
kerosene .ubrlcatlqg oils, fuel oils and
rreaaes required byihB army during April.
May and June. 192o Further Information
an application
rm l'K01'OSLS FOK 11I.ANKKT8
oraie of the Quartermaster Oenernl. Clothing
and Knulpage Division. Munitions Uulld.
iiik wanningion, u u.
Sealed proposals, in duplicate, will bo
recalled h,n until 1 1 nn 1 ,' ",.''?'
1, lUiO, for furnishing 180 Red Saddle
llankels Information on request.
PROPOSALS FOR HANDKERCHIEFS Of.
IsJ.S1 ltu! Quartermaster acneral. clotn.
n5 T.? e5uPee division Munitions liulld.
eH,.iy.a'h.'"" f.n. P.- C-8e.led proposals.
." "J.U0 rsceneo nere until 11
m . January 31, 10J0. for furnishing all
ifut" p.ar.1 of HO.OOO white cotton handkir
meta Information on reau.it
, PABTNF.USII1P8
U3P HK CO-l'AHlNUHSllIF KXIHTINO
tr. V?l.,n1 fl'1! 'j. Illtglns. trading In
sorted K 2.' . . " wen dls
U Kll?K,,,!i.,. ". ..T business, will
(wu i pi" "'. "I.?,mc" 'ini na iaw-
iMtW YORK BOND SALES
Srimmnrr of VnAlvMniii Trnmnctlonn on New Vorh Hxthanr.
Arrt Smelt & Ilet 5a
1000 .... 8,4 V4
Am Tel & Tel clt
4000 .... 7BVJ
SOOO .... 7SVt
1000 .... 18
3000 .... 78
Am Tel & Tel 3s
1000 .... 31
Tel SB
82
tav
82
82
81
81
81
81
Tel 6a
oo Yl
00
00
004
00 K.
Anglo-French 11 5a
4000
SOOO
10000
3000
18000
7000
33000
1000
1000
1000
SOOO
1000
1S000
1000
10000
3000
12000
ioooo
1)3 IS
..00
. . OS 15
,..00
..110
. . 05 15
,.. ooy4-
..00
. . 00
..00
80
.. 00 IS
.. 00
. . 00 15
., 06
.. OS 15
05 1')
Areotino Ilepub Da
4000 .... IVib
tinour i. Cu I '-is
1000 .., 824
3000
2000
Atch T
10000
1000
1000
2000
4000
.. 83V
. . 83
8 Ve 4a
.. 77M
.. 77 i
.. 78
. . 774
774
Atch T & a Vo ajs
3000 .... 00
3000 .... 00
1000 .... 084
2000 .. . 00j
Atch TranB S Us
2000 .... 7S'4
3000 .. 7S4
Atla Knox S. Cln 4a
3000 704
10000 ... 704
Baltimore S. Ohio cv
2000
2000
2000
15000
1000
1000
2000
10000
01
o4
01
01V4
00
SO
004
004
Ballmore . Ohio fd
1000 85
Balti S. Ohio J Via
2000 80J4
5000 .... 804
0000 . . . .' 80
0000 80
SOOO 80
Baltimore & Ohio 4s
3000 ... 61
looo .... 014
5000 .... flJ4
1000 .... 01
mnn .... 04-K.
Baltimore &. Ohio Ga
1000
.1000
1000
1000
3000
0J,
04
034
03
044
Baltimore i Ohio 6s
1000
2000
27000
1000
25000
1000
85
85
87 'i
85
8104
84 r.
Bait & O Sow 3 Vis
2000
71
Beth Steel Corp 1st
3000 . . 07&
:inn . . 07
Beth Steel us of 36
2000 ... 8Va
mnnn ... 8
Brook flip Tians 53
5000 ., 32
Brdy. 7th A RIl 4a
2000 55
BiOPlKiWV
faybtcm 4h
3000 . S.vi
BushT Term Bid 5b
ooi) 70i
Central Leather Du
2000 . . 0b
I noil .. 06
Central Paciilc 1st
8000 .... 73 )i
3000 . . 7d'!4
1000 . .. 73-U
IIII00 . . 7311
Cent RB of N J Ca
1000 ....1004
Chesapeak & O fd
nun .. . 8514
CheB &. Olilo H 4is
"00(1 .... 75 1 1
ChPB &. Olilo c 4M.S
1000-.. . 73
1000 . . . l-l'i
1000 .... 751
2000 .. . 734
1000 .... 7.14
Ches & Ohio cv 5s
1000 ... 78
Chi B &. Quincy 4a
2000 . . 08
3000 .... 15
3000 .... 05
4000 ... 05
6000 .... 05
5000 . . . 04
1000 .... 05
5000 ... 05
Chi & Crt West 4a
mnn ... 54
Chi M & St P D 4a
1000 . . . 50
M & St P (d 4 Via
1000 .... 50
2000 .,.. 58
1000 .:.. 57
Chi Mil & St P 4a
1000 .... 8814
Chi M & St P cv 4 i
1000
1000
1000
J000
3000-
2000
1(100
07
674
07
0794
08
68
07
Chi & CWwest Rly 4a
looo .... mvj
Chi M & PURt S 4a
2000 ... 64
Chi Ilallwaja Car Cb
2000 . 70
Chi R I &. Pao fd
10000 .... 65
2000 .... 05
1000 ... 65
1000 .. . 65
4000 .... 05
1000 .... 05
0000 .... 00
(.li it I & 1'uc 4s
1000 ... 734
1000 .... 74
1000 .... 12
12000 .... 71
10000 .. . 71
Chi & W Ilfd RH la
1000 ... 58
2000 . . 58
Chile Copper 6a
2000 .... 81
10000 ... 81
6000 .... 81
1000 .... 81
1000 .... 81.
1000 .... 81
Chile Copper 7b
5000 ....103V
2000 ....105
C Govt Hu-K ny Ea
3000 .... 47
J000 .... 41
City ot Bordeaux (
, WOO .,., tlUt,
"3
ioooo .... bi
20000 .... 02
City of Lyons B 6a
10000 .... 02
10000 .... 02
1000 .... 02
C ot Marseilles 6b
10000 .... 02
10000 .... 02
C of N Y 4b Of
May '67
6000 .... 00
2000 ....100
3000 .... 004
C of .V Y 4 Vis of 63
8000 .... 00
2000 .... 0D
QofSY 4 Via of 64
0000 .... 03
City of Toklo B 6s
10000 .... 02
City of Parla B 6s
3000 .... 02
AOOO .... 01
1000 ... 02
Clev C C & StL 4 Vi
0000 .... 73
Col G & Eleo Co 1st
2000 .... 85
5000 ,... 85
Colorado & So 4 Vis
2000
1000
72
754
Dom of C Sa of '21
1000 .... 08
1000 .... 08
3000 .... 08
10000 .... 08
Dom of Canada '-6
3000 .... 03
5000 .... 03
D of Canada of 29
6000
1000
4000
1000
1000
00
00
00
00
06
Dom of Canada. '31
1000 02
5000 ... 01
SOOO . . 02
Crie Rail Rd Cv A
2000 .... 33
Erie nil Co cv B
2000 .... 35
2000 ... 35
i:rlo nil uv. D
10000 . . . 344
Erlo General Lien
2000
0000 ....
10000 ....
SOOO ....
1000 ....
Erie RR Co
000
000
40
40
40
30
30
4s
52
63
Hocking Valley 4i
6000
Hudson
1000 ,
4000 ,
1000
7000
2000
00
Man fd
. 58
. 68
. 68
68
. 58
Hud &. M RR Co in
5000 .... 15
10000 .... 10
Illlnola Central fd
5000 .... 72
111 Central 4b of '53
5000 .... 08
Illinois Central 5ts
1000 ... 02
III Central RIl 5 Ha
10000 .... 02
Imper Jap Govt 1st
1000
1000
3000
'4000
8000
75
74
74
71
... 74
Imp Jap Got 2nd
1000
3000 . .
10000 ..
1000 ..
10000 . .
SOOO . .
5000 . .
Imp Jap
looo . .
5000 ,
2000 . .
3000
71
. . 74
. . 74
.. 74
. . 73
. . 73i
. . 7.lJi
Got 4a
. . 00
. . 0
. 50 lli
50
Inte,r Aer Corp 5s
2000 ... 82
Inter Met Co 4s
1000 18
1000 . . 18
1(100 .. 18
Inlere M Marino 6s
0000 . 034
3000 . 03
Inter Rap Trans fd
2000 .... 51
1000 . . 51
1000 . 51
Kan City & S Ry s
1000 .... 81
Kan C Term Ry 4s
8000 ... 71
Kings Co E RR 4s
1000 60
Lack Seel Co of '50
10000 ... 04
L S & M 4b ot '31
2000 ... 82
Long Island RIl fd
lorfo , . . . 00
1000 .... 60
L & Nashville fc.'l 3s
5000 .... 50
Lorlllard Co 7s reg
100.0 1074
Loulb'o & Naslt 1b
4000 .... 81
2000 ... 80
Manhattan b'ta la
3000 . . . 58
Mich Cent RR D 4s
3000 .... 80
Mln St P &. Satilt
Sto Mario All 4a
0000 . . . 85
Minn t St L RR 7s
2000 .... 73
Missouri Pag gm 4s
5000 .... 57
1000 . . 66
1000 .... 57
2000 . . 57
Mo Pacific 5b of 65
2000 .... 73
N Y Cent L S 3-5a
3000 . . 00
NYC & HR R ctf 43
6000 .... 68
NYCiHKR 3is
10000 .... 65
10000 . 60
8000 .. 66
1000 .. 66
1000 .... 60
NVCiliniHa
1000 .... 77
N Y C i. II R R 68
1000 .... 024
1000 . ..02
1000 ... 02
N Y N II & II R 6b
1000 .... 70
6000 .. . 70
N Y Railways 4s
1000 .... SOT,
New Y Railways 5s
1000 ... 7
N Telephone 4 via
1000 .... 80
2000 . 80
N Y Telephones 6s
1000 .... 05
3000 .... 05
N Y V C & B R 1 4
1000 .... 37
Northern Pacific 4b
6000 .... 76
4000 ... 75
1000 .... 76
1000 .... 10
Northern Pao 4 Via
1000 .... 78
2000 . . 78
Norf & Western 4e
3000 . . 75
2000 .... 75
2000 ..t 75
4000 . . 75
Norf & West cv 6s
2000 ... 103
Norf & West cv 6s
15000 ....103
Oregon Short It 4s
SOOO .... 82
Oregon Short la 6f
5000
apt
1000 .... 73
Pao O & Elect Es
6000 .... 83
6000 ...,'82
Penna nn gm 4 Vis
1000 .... 82
6000 .... 81
4000 .... 82
1000 .'. .. 82
Penna Railroad Ea
2000 .... 1)04
3000 .... 00
4000 .... 00
3000 .... 00
10000 .... 00
0000 ,.., 00s
Pero Marquette 5s
1000 .... 86
2000 .... 80
lien 1 ig II II 1 1 ll
2000 .... 70
n I Ark & Lo 4 Vis
3000 .... 62
16000 .... 01
Seabil Air Lino aj
2000 37
4000
SOOO
6000
2000
1000
38
37
374
37
37
Southern Pacific fd
2000 .
1000 .,
4000 .,
Southern
1000 .,
.. 77
77
.. 77
Pacific T
.. 72
SI 1. ft San Fran in
1000 41
1000 .... 41
2000 .... 41
StL & San Fran a
2000 .... 60
2000 .... 60
StLi. San Fran A
1000 .... 57
0000 .... 57
1000 .... 57
1000 .... 57
3000 .... 67
6000 .... 67
2000 .... 57
10000 .... 57
St L & S F RR B
1000 .... 68
St L & ban P gm Da
2000 .... 02
0000 ... 02
fit L & Swest RIl en
4000 ... 51
St L &. Swest RR 6s
2000 .... 57
1000 .... 57
Southern Paciilc fd
3000 .... 77
2000 .... 77 4
1000 70 Ki
Southern Pac cv la
5000 80
Southern Paclno 4s
1000 .... 70
8000" 70
Southern Pac cv Ds
1000 ....10 J
South Railways 4s
2000 .... 58
1000 .... 58
Southern Railwy 5s
1000 84
1000 81
St L I Mt & S R 4s
3000 .... 74
St L Iron Mt & S
Rlv S. Gulf Dv 4s
1000 08
stp mil mi 4 via
1000 .... 90
Ht P M k M en 6s
5000 ....105
StPiKCHLlW
3000 .... (II
Third Ae RIl aj
1000 .... 20
T Coal & I rt Co 5s
1000 ... 00
Union Pao n II cv
7000 .... 80
Mb HoDds oi5s... 08.02
Lib Ronda 1st la.. 01.118
Lib Itouds 'M -Is... 00.5)8
Lib TJonJ ls,t 4lis. 02.30
Lib Roods 2d 4',s.01.12
Lib llouils, .'Id 4V4b.03.U0
Lib Hoods 4th pl8. 01.50
Vic Note 3Ks....08.'i8
Vic Notes s 08.3S
Union Paclflo rd
6000 .... 75
Union Pacific R 4s
7000 .... 83
3000 .... 83
Urrlon Paclflo nn 6b
6000 .... 83
Union Paclflo R 6s
3000 ,...10iv
L K of G B At I 21
05
05
05
05
05
03
B &.
10000 . ,
1000 .,
16000 .
5000 ..
0000 . ,
3000 .
U K of
rcta of '22
3000 .... 04
2000 .... 04
100000 .... 01
1000 .... 04
1000 .... 01
U K of G B &
rcta of '29
3000
3900
32000
10000
5000
8000
2000
10000
1000
2000
2000
SOOO
04
04
04
01
04
04
04
04
044
04
04
U K ot O B & 111
6000 ,
1000 ,
1000 .
1000 .
1000 .
1000 .
2000 .
12000 .
1000 .
U R ot
18000
88
. . 80
.. 80
.. 80
.. 80
.. 80
.. 88
.. 88
. . 88
Fe en ct
27
U S of Mexico 4a
2000 .... 35
U 8 Real & Imp Ea
2000 .... 70
10000 .... 70
U S Rubber Co Ea
5000 .... 80
1000 .... 80
6000 .... 80
10000 .... 80
2000 .... 86
1000 .... 86
SOOO .... 86
3000 89
3000 80
U S S M &. Ref 6a
1000 ,...10J
U S Smelt &. It 5s
1000 .... 72
U S Steel 6s
3000 084
1000 .... 08
1000 .... OS !i
Utah P &. L Co Oa
1000 83
4000 83
Vir Car Chin Co 1st
10000 .... 044
7000 ... 04
Vlrglna niways 5s
6000 .. . 61
Vlr & South Wh en
15000 .... 60
2000 '00 '
West Electric Co Ea
2000 .... 07
Wist Maryland 4 s
1000 .... 50
Wesern Pacific la
2000 84
Wesern Union 4 Vis
5000 ... 70
Wilson Co c
1000 .... 05
Wilson Co lGt
1000 .... 08
1000 .... 98
SOOO 08
08.81
Dl.CS
00.08
02.10
00.00
03.20
01.20
08 31
08 30
08.00
01.08
00,70
02.30
01.02
oa.r.s
01.10
08.34
1)8.38
Combined Reserve Bank Report
Washington, ,Iun. 20. The -uccklj
report of Hie combined condition of the
twehc Federal Hcserve banks, at the
ilosc of business ou Trida, January
23, announced bj the Federal Ite&ene
board, is ah follows (000 omitted) :
itissoimcisa
Jan 23
Gold coin duel certifi
cates In ault. . 1220,317
Gold settlement fund ill, too
(Jold with foreign
agencies 117,322
Total gold held by
banks 770. HIS
Gold with Federal Re-
sene agents 1,120,201
Gold redemption fund
with U a Treas.. 121,221
Total gold rctenes $2,026,650
LegHl tender, sl!er
ttfs , sutoid'ry coin RI.24U
Jan 16
Total rciencs
f2,087.800
Hills discounted sc-
tured by Gov, nar
obligations ,. 1,386 313
All otn.r 707,110
BUlo bought In open
market ... , 575,781)
Total bills on hand $2,720,247
U S Goa. bonds...
U b Victory notes
U b certltlcates of
indebtedness . ,
Total other earning
assets .
Bank premises . .
Uncollected item (de
duct fr gross dep )
Fle per cent redemp
fund against V li
bank notes . .
All other resources.
27,016
0t
276,76,5
$212 110
151) 260
120 323
7S3.702
1,130 32(
118.830
$2,0-13,878
60,101
$2,101,281
1.331,151
71b (111
575,b75
$2.675,740
27.088
01
310,684
$3,033,112
10.4113
$3 022,524
10,461
1,022.633 1.116.852
12.130
5,483
12 863
Ml 63
Total resources , , $6,171,717
LIABILITIES
$87,589
Capital paid In . . .
Surplus .
Goernment deposits
Due to members re
serve account
Deferred aallabllity
Items. , , ,
Other dep Incl for
govt, credits . . .
120,120
00,448
1,859,140
705,782
O'i.OM
$6,272,440
$87,520
120,120
34 6U0
1,013,561
840,854
107.800
254,811
24.402
$0,171,747 $6 272.446
Total rtoss deposits $2,840,476
Federal Res notes in
actual circulation 2,814,227
federal Res Dank
notes in circulation
net liability ,.
All other liabilities
Inc for. gov. cred
Total liabilities
Ratio of total re
serves to net de
posit and Federal
Reserve notes lia
bilities combined.
Ratio of gold re
serves to Federal
eare notes In cir
culation ifter t
ttng aside 35
against net deposit
Uubllltles
$2,035,013
2 840,870
258 4R"
20,523
14 8
51 0"
45 1
61 5
LONDON STOCK MARKET
Sentiment In Industrial Department
Cheerful Gilt-Edged Section Hard
Ixindon, Jan. 20, There was a
moderate accumulation of orders for se
curities over the week-end and, he stock
exchange markets generully were steady
today.
Homo rails were dull, but Grund
Truuks were better because of the ap
proaching meeting to consider the Can
odiun tiovernment's offer for the pur
chase of the road.
Tbe oil group was checkered, senti
ment in the Industrial department was
cheerful. The gilt-ed(,e section was
hard, and rubber issues were purchased.
New York Meial
Ivla
rket
New York. Jan, S6. Copper All months
offered at lBUc. Market oust. IJ in
months. 8 80 8.80c Market teJy. Enel
ter4. SS'l.8- Jul,i Wo- January. February.
0 lofo.iot March, 0 7W vicf Awll Si
STOCKS ON
CURB
SCANT SUPPLY
Quptod Prices Nominal and Bids
Not Executed Except at
Sharp Advances
OIL ISSUES ARE PROMINENT
Nev York, Jan. 20. There wa u
strong tone to tho triullng on the llroud
street curb from the beginning of busi
ness this morning with the most Im
portant factor being the scant supply
of stocks around current quotations. In
fact, tho quoted prices glen were in
most ouses nominal, and bids could not
be executed cirept at sharp udvances.
The oil stocks were most prominent,
narth because of the announcement of
n new well by the Simms Co., and It
was 11 factor in causing un advance
from lil'li to CO. (ieneral Asphalt was
unother strong feiittirc, moving up from
110 to 118, and aierritt advanced to -1.
International Petroleum runged from
08 to W. Cnrib Sjndicate was actively
traded in ut -ii to 40.
British-American Tobacco continued
In stipplj , selling at 18 to ISVj.
General Motors (now) was traded lu
nt 32 to 31. Montgomery Ward was
heavj, telling at !tS to 37'.
There was pronounced pressure lor
a time against urpneum uircuu, on
which the trading was on a large scale,
ciniing 11 decline to the new low of
32. New York Shipbuilding was
strong, with sales at M 10 40. duo
mm inc Boat was sold at 10 to 1V.
iNnuHTrtriAi-N
Illsh
11
. Vi
. U'i
IS'4
'life
117
32
151
Am Candy
Am Marconi
Am Safety Razor . . ,
British Amir Tob coup
Car Light
Columblu Cmerald . . ,
General Asphalt ...
(Ieneral Motors
Grape Ola
nupp Motors. IK"
Loiomohllo 24
Montgomery-Ward JS .
.V Y Shtpbuild it
Nor Am Taper 5H
Perfection Tire 5
Radio Co 2S
Republic Tire Rub 3',
Submarine Poat .. . 10
Triangle Film
USlillI .... 314
United Ret Candy .. um.
United Profit Sharing. 2S
United Plct Prod . . .. 1(1
Low Last
It 11
5'4 5'i
11 11'.
IS I8V1
2? 2
17'4 17W
115 llU'-i
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INDKI'KNDI-.NT
Allen
Alliance
Alto Oas
Amal Jaltl
Boone Oil . .
Boston Wyomlni? . . .
Hurknett van Clcavo .
Carlb Sjn . . .
Cities Sen Ice "U ' ctfs
Cosden & Co .
Dominion ..
Duquesne . ,
Engineers Petroleum .
Ksmeralda Oil ...
federal Oil
Ollllland
(Ilenrock Oil .
Uuf Gillespie
Home Oil
Hudson Oil ,
Inter Petroleum ...
Island Oil
Lllngston ,
Magma
Merrltt Oil
Metropolitan Pet
Omar Oil
Phltllpa Petroleum
Producer and Refiners,
Red Rock
Us an Oil
bolt Creek Prpd
hkelly Oil
Simms Petroleum
Southern States
Spencer rVtroleum . . . .
Texas Ranger
Texas Co w I
Trinity Oil
rropk.il Oil
OILS
i
ni,
I?
a.
.. in
. J2
RV
.. u
.. 21
.. 4
. . l's
. . S3 14
. . tn
.. is
.. 1
. . 50
.. 12
a''l
'.'. 18"?
.. l's
MIMNG
AHs- Br Col
Am Ifond
Atlanta
)!-her niudn
neither DMde Extra. .
Ills Ledgo
Booth . .. ..
Caled .Mill
Can i-1n Cop . . .
Cons VlrpmU , . .
rresson Gold
Divide Ext
IJ1 tahador ...
Hureka Croesus . . ,
411 Mining ... .
Golden Ulto Hp ...
Gold Cons
Gold Keuun-i . . . ,
Gold Merger
Gc.'d Ulier 1'liK . .
Gold Zone
Jumbo I.xleniton . .
Kno-c DHld)
Louisiana Co
McKlnley Darrah
jMCMnrnart
Magma (Jilef ....
Varsh Mln
Allied Puck 61
T T l! of " ! . .
Belgian GoU rts of '23
C C C & -St L 6s ..
Motherlode .
Afurra M01
Neada Ophlr
Mplsslng
Onondagj
Rex Cons .. . .
Rochester Mlnei
Sliver King Dlldo ..
S Sliver Lead
Success Mlu
Tonopah Belmont
Tonopah Cash Boy . .
Tono Dlllde
Tonopah Fit
Ton-Jim tl
Tonopah Rescue Lula.
U S Cont
United Eastern
v" ctorv . . . .
Wt End C
White Caps
White Caps i;xt
Wilbert
Russian 5 b .
Russian O'sb
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Philadelphia Marhats
Proceeds nrc to bo devoted $100 per
I share to capital unu zv 10 surpiur.
jWarrants will bo sept out Tebruary 2,
GRAIN AND FLOUR
wtrr?AT- nA.in.H , Th market
ruled ateadv. with little trading. Quotations:
Car lots, In export elevator, government
standard inspection, standard prices, No 1
reu winter, 12 aw: no 1 iioriuvm ,-.,
12 8fl No. 1 hard vi Inter. 12 30! No 1 red
winter, garlicky. $2.37l No. 1 red smutty,
12 OB, No. 1 red, garlicky and amuiiy,
$2 34. Tho Unltecf States Oraln Corpora
tion's purchases of wheat are bed on the
following tchedulo of discounts: No. 2
wheat 3c under No 1. No- 3 wheat tic under
No. 1. No 4 wheat 10c under No, 1, No u
wheat 14o under No 1.
CORN Receipts 14USf bushels. Demana
as light, but prices ruled steady under
small supplies. 0 quote new, as lo quality
and location, at SI (10 1 70, tho latter for
No 2 elliA
OATS Retelpts -none, Tho market was
quiet and unehonged, with light supplies
We quota' Car lots, as to location No 2
white, H0'4rJli No 3 white, 08'4 000c.
No 4 white. 1I7S SPSSr
I'LOUrt Itecelnt. 1.R73 343 noilnds n
sacks lJemand was light and prices showed
no Important change Quotations: Per 1"0
ins pncKea in 140-111 ju.e sacks ott win
ter straight western, MO 75011 25: do do,
nearhv, SIO (1-,S)1, hard winter, straight
n 26IJ 73. do, Dhort Patent, S1.1 76fl
14 21: spring llrst ilear. tlOill, do patenO
$13 75014 5(1. xhorl nnlent. XI I 7R(t 15 50.
flino spring and city mills patent, family
brands, (13 r,0W II) ,
RIB TLOUR was quiet and steadj Quo.
ntlons 110(310 25 per barrel, In sacks, as
lo quality,
PROVISIONS
There was a light Jobbing trade and no
Important change In prices. Quotations
Ilecf in sets, smoked and air dried, 53c
beef knuckles and tenders smoked and air
dried 54c. uork family. C2c. hams. S P
cured. loose, 27Q31e, do, skinned, loose
23Wi 2H'4o, do. do smoked. 2dVi8'S(i4c
hams, boiled, boneless, 37c, picnic shoul
drs, 8 I cured loose, 23c, do, smoked
24c. bellies In piLkle, loose. 23c, breakfast
bacon, 33cL lard, 27c
DAIRY PRODUCTS
BUTTER was quet but steady, wth light
offerings of line goo Is Tho following were
tho quotations' Solid-packed creamery,
fancy, high-scoring goods. 07tlc, ex'ru'
ll- extra nrxtn fl3BI3c: MrstS. BSfJOlC.
seconds 55057c. sweet creamery, choice to
fancy, 68(!i70c, fair to good O0WO7c: prints
Jobbing at 74(i?70c for fancy and, at 03
73c for fair to choice
EGG& Hie market ruled steady on line
eggs, but trade was quiet and supplies
were fully equal lo requirements Quotations-
Tree cases nearb) flrsts 121 bO per
crate, nearby current receipts. 121, western
extra firsts, J1 luQil CO, firsts, J20 40
20 70: seconds M8 0010 50: cold-storage,
eggs, as to quality. $14 10010 80. Inferior
lots lower, fancy selected fresh eggs Job
bing at 78B'S0c per dozen.
CHEESE Tho mark'et was quiet and un
changed Tho quotations New ork. whole
milk flata held fancv J2H32WC. fancv held
specials, higher, held, fair to good .11 U
Jt'ic. fresh-made goods nominal Vviscpn
sln whole-mlllt flats held.iancy. 3232'4i
held fair to good 3K3l'4c, Jobbing sales
of fancy held goods 3"30c
POULTRY
LIVE There was llttlo trading and the
market showed no important change Quo
tations' rowls fine fat. weighing S lbs and
ov-r apiece J8w40c, fowls, medium size,
good quality 3b0i7c. d0ji poor 32?;
broiling chickens fancysoft-meated I f I1'"
lngl'i2 1bs apiece 42 ;4jo sprint chick
ens average soft-mcated 34 0J6c. do In
ferlor. 31n.ijc. otaggy -oung roosters. .nP
2Sc. old roosters 24ffl2jc ducks white Pe
kin. 4440c: do Indian Runner. '";'
do" Mufco 28S110C geese fat. 42043c.
do acraBc. J03V turkeys ,u,?nS'
pigeons old per pair. 5ac. do. young,
per pair 45(3Tnc
DRESSED Fine desirable-sized stock ira
well cleaned up ind ruled ilnn. with fowls 0
shado higher Tho quotations' Towls. fresh
killed ury-plcked boxes weighing 4 lbs
Jnn mer nW T'4c weUhlrig 34 lbs
3$zac. weighing 3 lbs 3334c. fowls,
fresh-killed. In bbls , dry picked weighing 1
lbs , and over apiece 30c. weighing 3S lbs
8431c. weighing 1 lbs . 3133c: old roost
ers, drj -picked 27c, broilers. Jersey, dry
picked 5380o. do ordinary nearby dr
plcked,' SOiffSIc, broilers. western, drj'-plclted
weighing 1'4 E J lbs apiece. 480500, roast
ing chickens western, drj packed. In bbls
weighing 1 lb and oer apiece, 3ilS.lic.
weighing 3'4 lbs apiece. 34J5c, ""lshlne
3 lbs. apiece 34 1"c. weighing 2'i lbs.
apiece. 4142c, western corn-fed chickens,
111 to box 17 lbs and under to doz , per
lb, 4548c, 18 to' 24 lbs to doz, per lb
4'i48c, 2'i to 30 lbs to doz , per lb 40CC
42c, .11 to 30 lbs to doz per lb , 31
."(lc, 37 to 41 lbs , to doz , per lb , 316 36c:
43 to 47 lbs to do7 . per lb, 3530c, 48
lbs. and oor to doz 3840c' capons
western weighing 810 Ibr. apiece, 53
51c, soma heavier stock higher: weighing 7
lbs apiece 118 12c: weighing 5Gpfl lbs
apiece 48&60c turkes Del and Md ,
fancy OOo, do Va , and other nearbv fancy,
5860'-, do, nearbj fair to good 536lc,
do western, spring, fancv, 5859c. do. do.
fair to goo 5)W55c do old toms. 48a,
ducks, western. t8Q,40c, geese western
fancj, 3()3Jc. do, do. fair to good. 2.1
Financial Briefs
! 1 Pntrmrat. must hn made by clove of bush
A managing committee, has been np- i UCSB jjarch 1.
The New York subtreasury lost $2,-
27c.
FRESH FRUITS
Very llttlo doing becauso of cold weather
We quote- Apples, per barrel as to qual
ity MD 50: do per box. J1 503 40. Cran
berries per barrel, JBS8 50, do, per crate
l 50(93 Oranges, riorldi, per box, J2 25
(?V5 50 Tangerines Florida, per '4-box
tl 75C.O-1 50 Grapefruit, Florida, per box,
J2(6 4 55
VEGETABLES
Cold weather preented business, and
prices were largely nominal We quite White
potatoes, Pennihania, per cwt M
4 bO do. New Tork per cwt. Jl 254 31
Sweet potatoes southern, per hamper, $1 21
(82 25., do Jere, per basket, tl 40
1 75 Cabbago New York, Danish per t"
$100(3121 Onions per 100-pound sacks v
Yellow. No 1. $5 250
BUTTER, EGGS AND CHEESE
ew'lork, Jan 20 BUTTER firm Ro
ceipts 2711 tubs Creamery, higliei thin
extras 04'a S" 03c creamer, extras (02
&core file creamery firsts (88 to 01 score),
WBiliHc packing rtock, current make
No 2 12c.
h-GGS fatearb Receipts 7100 cases Tresh
gathered extras firsts 71S74c, firsts 71 S
7Jc. state Pennsvlanla and nearby western
rennery whites, 7S82c; state, PennsyhanK
and nearb henner browns extras, 77'S'
78e, do gathered browns and mixed color3,
firsts to extras. 7170c
CHEESE easy Receipts 753 boxes State
whole milk, flats, held special 3232Sc
do aeruge run SO'iifllHc stnte whole
milk twins held, specials, 30S S 32c do
aerage run, 20S Jlc
LONDON METAL MARKET
. . . . ' . -" emu. arirh r-
ccUed at the .Ne York Metal Exchange tills
morning quoted the following prices In Lon
don toda Tin Spot. 3S9 5s an adan
ot t- i'iiiirci tiss 15s an adMwic of tl
slid btnilla f.'il Mr, vn J2 156 sales
SllOt 80 I-US futures 020 inttv Rlnr.,,
copper Spot, 117 17s 6d a giln of 2 17s
im anu i 'ture- tun 1.1s an upturn of !
Saleu Sinl 11111 Inn. f, ,,.-. ilnn .
Electrolytlo copper Spot, 122 10s and
c I ",.., r1 J"A -'lt5,ul, in" Lead
Spot. 40 5s off 7s fld, and futures 47
unchanged Spelter Spot, 58 10s a gain
of 5s futures, 00 1,1s an adanee of 10s
W
Make Oar Bank
Your Bank
SSF
J--jM "feAr-iV
Come and get acquainted
wth us. We want your
account wo know you will
want our sen-ice Back of
this is strength, ability,
experience, responsibility.
We can be of mutual bene
fit. OFFICISUSl
A. F. Stelnlleld.
Prenlrlenl
A. H. Auerlmcii,
Active Vice PresMent
lVIUIam F. Krlebel,
Cnahier
I eon H. llnlslmer Kuln Kills.
Harry I.arginun, ll, Llnslt
und lldward Ost,
Virv Vesldenfa
Wolf llodek.
CAairmati Board of Directors
Phila. National
Bank Warrants
Bought Sold Quoted
HENRY D. BOENNINQ & GO,
STOCK EXCHANOE BUItDlNO
Direct l'rlrat Telepfjone to Htv Yrk
llpbrii 'tilla. Stock IVMlmur
BUY
THRIFT AND
WAR SAVING
STAMPS
A safe and profitable luTeslment.
A uermnent Investment featur
UttVUed by your loyersrtueut.
nnini,i S .lli-ort Hip ndin n stratirc iULBB 1X
work of the Guaranty Trust Co.'h oper-1 p j, jjoral and John ,T. Calnc have
atlons as an nld to the president. Thc(bncn rc.cifcled vice prcflldcuta of the
committee which haB been selected con- Franklin Trust Co.
sists of five vice presidents oi inc com
nnnj Albert Breton, AV. V. Conway.
n. W. Stetson, Hurold Stanley nnd
l.Vnnela II. Slsson. SIcmbcr will be of
equal rank and authority and will telcct
a chairman from Its own membership
each j car through the process of lota
tion, Albert Hreton having been delect
ed as chairman for the first lear. It is
the belief that this method of organiza
tion is desirable in order to meet the
rapid growth of the company, which
now musters a staff ot over I1S00 peo
ple. Tho average price of' twruity active
industrial stocks advanced 0.75 per cent
on Saturday to 102.0o, while twenty
railroads advanced 0.07 per cent to
74.a).
1 Stockholders of Itlttenhousc Trust
Co. as of January 24 will have the right
to subscribe to new stock at 5120 per
.share to an n mount equal to their pres
ent holdings. The capital stock is to be
Increased from .$250,000 to .$.jOO,000 und
par value of the shares from .$50 to $100
882.000 to the bnnka on Saturday, re
ducing Uic cash net Bln bIuco lfrlday
to .$300,000.
Tho Pennsylvania Co. has called for
redemption at the Glrard" Trust Co, ou
June 15, 1020, tho cntiro issue of tho
Pennsylvania Co. 3 per cent French
franc loan of 1000 certificates, guaran
teed by the Pennsylvania Ilallroud CoH
nt par nnd nccrucd interest.
r-Stock Salesmen-
A New York llroherace House
of unquestioned standing Is del
used with Philadelphia Inquiries
on a liliii-class, dividend-paying
Mid-Continent oil security short
ly to be traded In on the New
York Curb, under exceptional
market sponsorship.
This bouse wants one or iwo suc
cessful salesmen with established
local cnnnrrtlons and credentials
lo follow up and close sales In the
l'litludelpbla territory, but wishes
tn set In touch with the salertnan
himself, not with any brolrerase
bouse employing blm.
There U a big opportunity for
tbe right man wbo can l'Iiow
results.
Keply In confidence to tbe New
York address below, when nn ap
pointment will be arranged for
a personal Interview with ne of
the firm's representatives, at
rhllndelphlH.
Address P. C. B PoutoiTico
Box 372
City Hall Station,
New York City
READJUSTMENT
OF
Maxwell Motor Company, Inc.
AND OF
Chalmers Motor Corporation
To the Holders of
MAXWELL MOTOR COMPANY, INC.:
First Preferred stock!
Second Preferred stocks
Common stock,
CHALMERS MOTOR COMPANY t H
First Mortgage Six Per Cent lrlvo Year Gold Notts.
CHALMERS MOTOR CORPORATION!
Preferred stock;
Common stock.
and
To the Holders of Certificates of Deposit issued under tho Plaa
nnd Agreement of Readjustment, dated August 30, 1919, tor U
above mentioned securities.
Announcement is hereby made by the Committee as follows)
The following amounts of securities have been deposited undav
J
1617
1919
Fire
Association
OF, PHILADELPHIA
N. W. Cor. 4th & WalnuT
has given its policy holdera solid
Indemnity for more than on
hundrec rears and has never
been so strong; financially aa now.
Have you a policy In this aid
and reliable Company?
CHARTER PERPETUAL
I.
tho plan:
Stock of Maxwell Motor -Company, Inc 66 per cent
Notes of Chalmers Motor Company 11 per cent.
Stock of Chalmers Motor Corporation 79 per cent.
2. The foregoing amounts of securities deposited, and particularly
the amount of notes of Chalmers Jvlotor Company, are not in tho
judgment of the Committee sufficient to enable it to declare tho
Plan operative.
3. The Committee has been unable to secure from the Bankers a
positive commitment for an extension of the time for the purchasa
by the latter of the $10,000,000 of new Notes" referred to in tho
Plan, and the agreement between the Bankers arid tho Committeo
for the purclrdse of said Notes has therefore lapsed.
4. The time for the deposit of securities under the Plan is hereby
extended to and including JANUARY 31, 1920. If. prior to said
date, sufficient additiorial deposits are received, tho Committeo
will again endeavor tp effect arrangements for tho sale of tho
$10,000,000 of Notes of the New Company.
5. Tho Committee believes that the prompt carrying out of tho
Plan is of the utmost importance to security holders, and therefor
urges the prompt deposit of their securities.
Copies of the Plan and Agreement of Readjustment may ba
obtained from the Secretary of the Committee, or from the office
of the Maxwell Motor Company, Inc., Detroit, Michigan.
Dated, New York, December 16, 1919.
UARRY IIRONNEB, Chalrmsa,
JAMKS o. UflAly.
JOHN It. MORRON.
15f.TOW PAnitH.
jtn,F.H s. nArHW.
J
ntr-ill CftAJ.MFRB.
J. HORACE nARDlNO,
C. B
HUOHKI. Secretary.
80 Broadway. N. T City.
Commltte.
$25,000,000
Cuba Cane Sugar Corporation
Ten Year Seven Per Cent. Convertible Debenture Bonds
Dated January 1, 1920
Interest payable January 1 and July 1
Due January 1, 1930
'Convertible on and after January 1, 1922 (or sooner if at any time
iwrmitted by taw) on the terms of the Indenture into
common stock at $60 per slutrc
Denominations $1,000, $500 and $100 Registrable as to principal
GUARANTY TRUST COMPANY OF NEW YORK, Trustee
needeemabte In whole or In part upon GO dais notice (durlne which period tho risht of comerslon ion
tlnues) at a premium of 714', durlne the first fHe ieart of 0 during the sixth vear. nt 4 durlns tho
seietith year, of 31 during the eighth year of 2i durlne the ninth rar, and of 1 thereafter, but th-
,riBht of redemption shall not be exercised until not lets than 00 daja after tho debenture bunds shall
hae bcionie comertlble "
1 OUTSTANDING CAPITALIZATION
Ten Year Tio Convertible Debenture Bonds $25,000,000
7Te Cumulative Convertible Preferred Stock
. par value $100 500,000 shares
Common Stock without par value. 500,000 shares
Reference is made to a letter of B. Braga Rionda, Esq., Vice-Presidciit
of the Corporation, the salient points of ivhich are summarized below:
(1) The Corporation is the largest single producer of raw sugar in the
world, its output exceeding one-seventh of the entire production of
the Island of Cuba.
(2) The Corporation owns and operates sixteen fully equipped sugar mills
with a present working capacity of about 5,000,000 bags (320 lbs.) of
raw sugar, i'-.c output for 1916.1919 was 4,319,189 bags and the
estimated output for 1919-1920 is 4,700,000 bags.
(3) The Corporation has no bonded indebtedness other than these Deben- I
ture Bonds. It covenants not to create any mortgage upon its present
real property or plants so long as any of the Debenture Bonds are
outstanding.
(4) The purpose of the issue is to reimburse the tteasury of the Corpora-
tion for capital expenditures heretofore made and to provide worldlier
capital. h
(5) The net tangible assets as of September 30, 1919 (after giving effect
to the proceeds of sale of the Debenture Bonds), amounted to
$99,587,302, or nearly four times the amount of this bond issue The
properties could at present be duplicated only for a sum lareelv in
excess of that figure. " '
(6) Operating profits, after taxes but before depreciation, have since or
ganuation, December 31, 1915, averaged slightly under $10,000,000 rjer
annum, equal to 5.71 times the annual interest on the Debenture Bonds.
(7) The Corporation is obtaining for the current crop much higher prices
than existed during the two years of Government control (these prices
f. o. b. Cuban ports were 4 610 cents for 1917-1918 and 514 cents
for 1918-1919). and it is therefore confidently expected that oarnincs
for the current year will be greatly in excess of thode of any previous
(8) The Debenture Bonds will on and after January 1. 1922 (or sooner if
at any time permitted by law) be convertible, on the terms of and in
accordance with the Indenture, into Common Stock at $00 per share.
Legal matters incident to the issuance of Vie Debenture Bonds have been under thn
supervision of Messrs. Sullivan & Cromwell for the corporation and Messrs. Cravat, I
Henderson for ourselves. ""' v-
Application will be made to list these bonds on the New York Stock Exchange,
We recommend these Convertible Debenture Bonds for investment.
Price 100 and accrued interest, yielding 7.
J. & W. Seligman & Co.
New York
Hayden, Stone & o.
New York Boston
Halsey, Stuart & Co. (inc.)
Chicago Philadelphia
The above information is not guaranteed, but has been obtained
from sources wo behevo to be accurate and reliable.
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