I-
K
AOKTiMN
THE
NATIONAL BANK
Philadelphia
February 5th, 1920
The Controller of Cur
rency has this day approved
the increase of the capital
stock of this bank.
Capital 5400,000
Surplus and Un
divided Profits.. $374,000
Total Resources
over $7,126,000
$200,000
City of Phila.
4s
Coupon
and
Registered
Various Maturities
Tax Free in Penna.
FREE OF ALL
INCOME TAXES
Price: 98 and Interest
Biddle & Henry
104 SOUTH FIFTH ST.
Bond
Salesman
Investment banking firm,
members of Philadelphia
Stock Exchange, have good
territory in Philadelphia
available for experienced
salesman. Very liberal com
mission and satisfactory
drawing account. Replies
strictly confidential. Box C
134, Ledger Office.
(F
WANTED
Responsible Arm requiring money to
finance large and new contract has it
particularly attractive offer to make
to any one having fundi far Invest
ment purposes, or desiring to pur
chase an Interest In Companr.
Investment amply protected.
Yield large.
C 132, Ledger Office
tH
THE NORTHERN
NATIONAL BANK
January 28th, 1920.
The Board of Directors, due to
t(ei adjusting of the increase in
capital stock, have this day declared
ajqjiarterly dividend of 2'2 and an
crtra dividend of ViVo to stockhold
ers of record January 13th, 1920.
VULCAN DETINNING COMPANY
Sevvaren. X. J.
CJwners ot stock m the VULCAN DE
TINNING COMPANY who have not trans
Xerred the same to their own names upoii
the books ot the Company, and there
Sore do not appear as sr L.l.nolce-a ot rec
ord, are requested In their own Interest to
communicate at once with the underslgred
with respect to a Special Meeting ot the
iStockboldr to b held February 18. 1020.
VTHE VULCAN DETINNINf COMPANY
By Phnrle A Outram Secretary.
WANTED
Salesmanager who can organize
salee force to sell local Industrial
stock of exceptional! high grade;
full particulars and reference re
quired In lour replvj splendid op
portunity for the right manj salary
and commission,
C 128, LEDGER OFFICE
Stoekwell, Wilson & Linvi!!
Certified Public Accountants
Land Title Bldg., Philadelphia
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
1615 RE.IL KSTXTK TRVST BLDO.
Investigate and ndjust partnership and
corporation accounts. Also prepare U. S.
Income Tax Returns.
FIV VNflAL
Proposals
Bureau of Survevs
DEPARTMENT OF PUBLIC WORKS
Philadelphia
Relied proposals Mill be received at Room
216. Cl'v Hall until. 12 o dork noon on Feb
ruary 20, 1020. and opened at that time In
Room 412 Mv Hall for
SCHEDULE "A" Bridge on line
of 49th Street over Philadelphia,
Baltimore & Washington Rail
road, in the 40th Ward, with pav
ing, grading and other appurtenant
work.
SCHEDULE "B" Main Sewer in
Bigler Street from Delaware River
to faevern street.
CHEDULE "C" Inlets. Man
holes, Wellholes, Laterals, Branch
bewer spurs, etc.
.-aonirnciorn wm tw requirea to comDlv
ewlth. the Act ot July 18. inn relatlv? to
( worumwi compensation insurance, and
IvWoof must be furnished the Department by
i!th contractor that he ha a accepted the pr0.
vtlons of said Act and Insured his liability
,t thereunder or secured exemption therefrom
R Inquire at Iloom. 418 nty Half 'c'rom
. 'J JOHN C WINSTON
'?! . Director
BKALE PROPOSALS WILL Bis nr.
eelved by the Chairman of the Board of
Awards. Department of Agriculture. Wash.
lalton. D. C. until J p m February 20,
1IRO. for erecting at liell Station. Mary'
find; on the Washington. Baltimore a
Annapolis Electric Railroad fifteen miles
j from Washington D C one head house.
touT greenhouses, three cottages and one
irorlemen' house All these buildings are
tab ud In connection with a r ant D.
wtenUon Station at Dell Station Specific.
ttons and blue prints may be obtained on
inlleatlon from B T Galloway, PUnt
STweetlon laboratories 1204 B Street N
As
4J Washington D C
r'KrJPOSAD FOR BURLAP OFFICK OF
the Quartermaster General Clnthlne and
, rSlpa Division. Munitions Ride.. Wash.
i'JSn. P- C. Sealed proposals In dupll-
Bur will b received here until 11 a m
fWXrvirr '. into, for furnishing all or an
tiHof T0O.0O0 yards of Burlap Informs..
i. n r"' '
yV.e
V Dividends
j
r.ffl.
! lesilsH"
TICK CF.NTRAL NATIOVM, RANK
0h Ill' i'iuiMiur.i.i-iii
i Philadelphia, February 5 1020.
a At- rTDe uirectors n it "ay "eciarea a
-A SHrtsrly dividend of six per rent, free of
W. - . -. .l nm .SJa SH artll I'TiatflTa a. .ill . .
HLSe mjauif Vtl utuiauu wsvna wji jfj
JEWS OF FINANCIAL: WORLD NEW YORK AND PHILADELPHIA STOC& -Q&QTAWH
CLOSING MARKET DISPLAYED
MUCH STRONGER UNDERTONE
Prices Improved Steadily After Irregularity at the Outset.
Worst Side of Situation Discounted
New York, Feb. 7. "While Irregular
on the surface today's closing stock
market exhibited n much stronger un
dertone. The somewhat erratic fluctua
tions were tho natural nfterraath of the
recent violent gyrations, and, in a
measure, represented mostly the week
end adjustments of the professional
trading element.
Here and there through the list there
was evidence of belated liquidation, but
thie was incidental to a change in the
raantcc conditions ratber than indicat
ing a radical chnnrn in thp nltnntinn
On the other hand, them uerf. no fllfrnn
of the urgent selling witnessed in the
preceding session.
There was a vigorous rally at the
opening on continued extensive covering
of the fchort interest, but most of this
improvement was canceled before tho
end of the hrst fifteen minutes. The re
action was due almost wholly to room
traders testing tho market with a view
of putting out farther lines of shorts,
but a good underlying demand was in
evidence, and in consequence, the efforts
of the bear party were nuicklv aban
doned.
A further rally in foreicn exchanee
together -with the belief that the most
acute stage of the money stringency had
been passed started a secondary rally
before tho end of the first hour. During
the balance of the session prices im
proved steadily, with the more active
stocks going back to and above tho open
ing nign level.
The violent crash In security values
this week demonstrated above everything
else the useiessness ot attempting to
measure the possibilities of the current
market by established precedents and
former accepted rules and regulations.
It was the consensus of opinion of
recognized judges at the close of the
preceding week of the market having
approached an oversold condition and
was generally believed to be what the
street is pleased to call thoroughly
liquidated. The week's flood of liquida
tion and attending slump in quotations
showed how these experts hnd mis
calculated the market position and
underestimated the influence of the acute
domestic and international monetary
situation.
In speculative quarters, where the
fall of exchanges had been considered
rather an academic matter up to this
week, a different attitude is now dis
cernible. Tho acute collapse of inter
national credit quotations has produced
the gravest misgivings respecting the
foreign trade movement. This was
heightened by rumors of embargoes on
various exports from this country. While
the situntioL unquestionably is grave.,
there are reasons for believing the worst
side of the picture has been overdrawn.
Still it is apparent that much remains
to be done if the foreicn exchange Is
to he even partially stabilized.
In view of the unprecedented col
lapse in foreign exchange, and the acuta
stringency of money the velocltj of the
downward swine was not surorising.
While the shake-down ot stock prices
was severe, there was at no time during
the turbulent trading the first symptoms
ot demoralization or anytnintc approacn
ins panicky conditions. Extreme re
actions for the week ranged from 10
to 45 points in a wide variety of stocks,
especially oils, motors, equipments ana
shipping shares. Many low-priced
specialties were sacrificed at gross re
cessions of 0 to 25 points. This means
that since November well over CO per
cent of the market advance of last year
nas Been wiped out. xne speculation
in oil stocks has been stifled :, new and
unseasoned flotations are now selling
at far below their underwriting price, in
some notable instances for a substantial
discount below the actual money in
vested in the business.
It is possibly too arly to get a
sound oninion on the market as to the
immediate course, but it would seem
reasonably certain that the worst of
the liquidating movement had now been
seen. How badly the deflation of bank
credits may have been needed and how
determined the Tederal Reserve board
is to effect readjustment of the credit
situation, the work and the results that
have been accomplished in the last three
months is tremendous. Notwithstand
ing the apparent seriousness of the
financial situation at home and abroad,
it would seem reasonably certain that
the stock, market has discounted much
and the current level of quotations
measured chances in the cencral situa
tion that are not yet discernible to the
naked eye.
NEW YORK STOCK EXCHANGE TRANSACTIONS
NEW YORK BOND SALES
Summary of Individual Transactions on New York Exchange
Adams Express s
1000 SS
Am Agr & Chem SB
0000 .... D3Vi
Am Smelt & Ref 5s
2000 .... 83
2000 83
2000 .... 83ts
Am Tel & Tel cv 4
2000 .... BiVj
Am Tel & Tel 6s
1000 .... '
1000 .... 07
1000 .... 87 Vt
10000 .... 6
1000 07
Am Tobacco Co 6s
S000 ....110
Anirlo-FreiTCh B 5s
11000
4000
3000
1000
0000
1000
5000
12000
5000
3000
5000
13000
30O0
20000
8000
18000
3000
10000
500O
5000
100000
1000
10000
13000
4000
84000
AtCh T
2000
Atch T
3000
2000
1000
5000
5000
1000
Atch T
J000
03
. ... OS'a
. ... osy
. ... 01
.... 04
03
03
.... 03 IS
. ... 03
03
. ... 03 13
. ... 03 13
. ... 93 13
03 13
.. 93
03 13
. . .'93 13
. .. 93
03
.... 03
03
. .. 94
. . 93
, .. 03
.... 03
.... 03
& S Ke aj
G7
& S Fe 4s
. .. 76?s
. . ;'i
70
76
. .. 76
.... 70
Short L 4s
.... 72
49
Hsd.
'A. D
SWIFT.
Cashier.
At! Coast Line)
2000 .... 75
1000 .... 75
Baltimore li Ohio cv
3000 .... 00
200O .... 60
2000 .... 60
100OO .... 60
3000 ... 60
1000 .... 00
Baltimore & O SV4s
.'000 . . . 70
1000 .... 80
2000 .... 70
Baltimore & Ohio 4s
1000 .... 03
Baltimore & Ohio 5a
1000 .... 62
1000 .... 62
Baltimore & Ohio 6s
1000 ... 83
10000 .. . 82
2000 . 83
11000 8J
11000 .... 83
Balto & O P & L E
& West Va Sys 5s
2000 ... 54
Beth Steel C 6s '36
1000 . 83
Brit Union Ele 1st
3000 .... 62
Bush Ter Bldj: 1st
4000 .... 73
Cent of Georgia 6s
2000 .... 80
Cent Leather Co 5s
4000 .... 04
10000 .... 94
Cent RIt ot N J 5s
5000 .. . 08
Ches i. Ohio cv 4V4s
1000 .... 73
ChcH & Ohio cv 5s
2000 .... 77
10009 .... 77
5000 . ., 77
5000 .... 77
Chicago & Alton 3s
3000 ... 47
Chi & Alton 3s
5000 .. 47
Chi B & Qulncy em
2000 .... 78
Chi B & Q II 3s
1000 .. . 71
Chi 3 & Qulncy 4s
1000 . 94
2000 . . 03
1000 . . 01
1000 . . . 03
10000 .... 03
10000 .... 03
1000 .... 03
Chi & Qrt West 4s
3000 .... 54
200Q .... 61
2000 .... 34
Chi U I & Pac M
1000
2000
4000
2000
25000
63
64
81
63
63
3000 .... 63
4000 .... 63
Chi M & St P cv4
0000 .... 67
Chi M & St P cv 5s
1000 .... 66
C M & St P fd 4s
1000 58
5000 .... 38
Chi It I i. Pac 4s
400U 71
Chile Copper 6s
4000 .... 78
1000O 78
5000 .... 78
50011 .... 78
10000 .... 78
10000 .... 78
Chile Copper 7s
2000
sooo
1000
2000
10000
6000
..102
..102
..102
..102
..102
..102
City of Lyons B 6s
10000 .... 00
C of Marseilles 6s
10000 .... 00
City of X Y of 'GO
25000 .... 07
City of Paris B 6s
11000 .... 90
10000 .... 00
1000 .... 90
City of Tokio B 5s
20C0 .... 58
3000 57
Clev C C & StL 4
2000 .... 74
3000 .... 73
Colo & Southern 4 H
1000 .... 70
Consol'd Gas Wl 7s
3000 .... 99
3000 .... 09
5000 .... 00
7000 .... 90
Copenhagen 5 Via
1000 .... 80
Dom of Canada '29
5000 .... 03
4000 .... 01
Dom of Canada '31
10000 01
1000 .... 01
10000 .... 01
1000 .... 01
Erie R K Gerr Uea
2000 .... 10
1000 .... 40
Erie Rail Rd cv B
1000
4000
Hudson
2000 .
3000 ,
10000 .
3000 .
Hudson
3000 ,
1000 ,
10000 .
14000 .
6000 ,
2000
34
... 33
& Man fd
... 55
...55
...51
. .. 55
& Man
...11
... 14
... 14
...14
... 13
...11
in
III Centra! 4s of '53
2000 .,
Imp Jap
5000 .
5000 .
10000 .
2000 .
3000
64
Govt 1st
70
70
70
71
71
Imp Jap Govt 2nd
10000 .... 70
2000 .... 70
25000 .... 69
Indiana Steel Co 5s
3000 .... 03
Imp Jap Govt
4s
5000
5000
1000
20000
35000
59
57
58
59
57
In Merchant M 6s
1000 .... 00
1000 .... 90
1000 .... 90
Inter Metro Co 4
1000 .... 13
Inter Rap Trans fd
4000 .... 48
24000 .... 48
1000 .... 48
Kan C Term Rly 4s
3000 .... 09
LS&M 4s of '28
2000 .... 15
L S & M 4s of 31
6000 .... 80
Lehigh Val R Co 4s
1000 .... 70
Lehigh Val It Co 6a
3000 .... 00
5000 . , . 00
1000 ....100
1000 ...,100
3000 .... 00
Liggett & Myers 7a
1000 ....107
Lorlllard Co 6s
1000 .... 85
4000 .... 85
Lorlllard Co 7a
1000 ....102
2000 ..,.108
Louis & Naihvllo 4f
1000 .... 70
Louis & Nash clt 6s
5000 .... 89
Minn & St L RR 4s
5000 .... 37
Mo Kan & Texaa '2d
13000 .... 20
Missouri Pac gm 4s
1000 .... 55
5000 .... 55
Mon Power Co 6s
1000 .... 83
3000 .... 83
NVCiHRRls
8000 .... 01
N Y C & H R R 6s
3000 .... 92
2000 01
N Y N H & Hart 6s
1000 .... 00
1000 .... 69
New Orleans Texas
& Mex Rly 6s
SOOO .... 52
N Y Telephones 1
5000 .... 80
8000 .... 70
1000 .... 80
N Y W C & B 4s
1000 .... 36
Norf & West cv 4s
1000 .... 75
2000 .... 76
Northern Paclflo 3s
3000 .... 52
1000 52
20000 .... 52
2000 .... 52
2000 .... 52
Northern Pacific 4s
4000 .... 75
Northern Pac 4s
2000 .... 78
Penna RR gm 4s
7000 .... 70
7000 .... 70
Pennsylvania Rn 5s
5000 .... 80
3000 .... 80
1000 .... 80
2000 .... 89
1000 .... 89
1000 .... 89
1000 .... 89
Pere Marquette Es
1000 .... 84
3000 .... 81
P S Corp of N J 6s
2000 .... 01
2000 .... 61
Repub or Cuba 4s
2000 .... 75
2000 .... 75
Rep I & Steel Co 5s
1000 .... 01
R I Ark & Lo 4 Ha
1000 .... 61
2000 .... 59
1000 .... 61
San An & Aransas
Pass Ry 4s
2000 .... 37
3000 .... 57
2000 .... 57
00OO .... 57
Southern Paclflo fd
1000 ... 7H
Southern Pacific 4s
1000 .... 69
Southern Pao cv 4a
1000 .... 76
4000 .... 78
4000 .... 78
28000 .... 77
Southern Pac cv 6s
3 0O0
1000
1000
20000
10000
3000
22000
. .100
..100
..100
..100
..100
..100
.. 09
Southern Pao cv 6s
10000 .... 78
Southern Rallya 4s
4000 .... 57
Southern Rallya 6s
2000 .... 83
6000 .... 83
St L & San Fran aj
1000 .... 57
21000 .... 67
St L & San Fran In
10000 .... 41
1100O .... 41
St L & San Fran A
1000 .... 55
1000 .... 55
3000 .... 55
1000 .... 56
St L & San Fran B
2000 .... 66
St L & San Fran C
1000 .... 83
1000 .... 83
St L & 3 West 1st
5000 .... 61
Third Ave R R aj
25000 .... 27
Union Pac R R fd
1000 .... 73
Union Pac R R 4s
1000 .... 81
1000 .... 70
U K of G B & I '21
1000 .... 03
1000 93
0000 .... 03
3000 93
20000 .... 08
18000 .... 03
2000 .... 93
1000 .... 93
5000 93
5000 .... 98
8000 .... 03
3000 .... 83
1000 .... 03
U K of G B & I
rets of '22
15O00 .... 92
U K of G B & I
rets of '29
4000
6000
1000
SOOO
1000
25000
35000
2000
35000
6000
02
92
92
92
82
02
91
S3
01,
81
U K of G B & I '37
5000
200O
3000
4000
3000
2000
86
86
. 86
. 80
.j 88
86
Utd Ry Invest Co of
Santa Fe 6 s
8000 .... 70
1000 .... 70
U S Real & Imp 5s
4000 .... 75
U S Rubber Co Gs
1000 .... 85
3000 .... 85
1000 .... 85
U S Steel Co 5s
2000 .... 96
1000 ..., 96
3000 .... ?
West Maryland 4a
5000 .... 50
Wilson Co cv
SOOO
1000
6000
4000
1000
01
01
01
01
01
Total, to 174,000. compared with MS 707,.
000 yesterday. Thus far this week J1Q2.
440.000 Same period last week. 178.198,000.
Today's Range In Liberty Bonds
Htfh Low
Lib Bond 3s... 07.02 03.30
Lib Bond 1st 4s.. 00.00 00.00
Lib Bond l!d 4s.. 00.10 80.04
Lib Bond 1st 4Mb 01.10 1)1,10
Lib Bond 2d 4s 00.34 00.12
Lib Bond 3d 4s 03.50 0IU8
Lib Bond 4th 44s 00.50 00.20
Victory Note 3s 07.80 07.78
Victory Note 4s 07.83 07.74
Close
07.00
00 00
00.10
01.10
00.28
0S 40
00.30
07.80
07.80
RALLY IN EXCHANGE RATES
Demand Sterling Quoted at 3.33J4
and Cables 3.34 Market Quiet
New York, Feb. 7. During the first
hour of trading in foreign exchange this
morning there was a slight rally in
both francs and sterling, with demand
sterling quoted at 3.83 and cables at
3.34. Franc checks were 14.52 and
cables 14.50; lire checks 18.05 and
cables 18.00. Marks were 1.00.
D'v.
Sales in 1
111 ..
1100 (
200 ..
660
700 8
709 n
100 8
SOOO ..
1200 13
100 7
600 t
1000 .80
300 ,.
1100 7
4000 e
300 1
1100 S
2000 8
100 7
ST00 ..
200 4
1600 3
100 7
100 7
200 10
1000 8
2500 s
6000 7
100 7
CS0
800
1000
200
300
300
1800
200
600
Advance Rumely .... 38
AJajc Rubber 72 J
Alaska-Juneau O II.. 3
Allts-Chalmers 149(
Am Agrla Chem 88 J
Am Beet Sugar 84
Am Bosoh Magneto... 118J4
Am Can 40
Am Car A Fdy 132
Am Car A Fdy pf . . .US
Am Cotton OH litis.
80 Am Druggist Syn .... 12H
Amiiiat & Leather... nii
Am Hide A Leth pf.,110
Am Internat Corp , . ,100 H
Am-La Francs Engine 13 ft
Am Linseed .........81
Am Locomotive 02 H
Am Looomotlvo pf ...108
Am Ship A Commerce. 20 'A
Am Smelt A Ref I..,. 84
Am Steel Foundries) .. 43 J&
Am Steel Fdrlea pf ..83
Am Sugar Ref 138
Am Sumatra Tob '. ... 84
Am Tel A Tel 08
Am Tob Seo temj. ctfs. JK
Am Woolen 1SBW
Am Woolen pf 103H
. . Am writing paper pr. lb
.. AmZlno Lead A Urn. 17
4 Anaconda Copper ... 57 W
.. Assets Realization ... 8W
.. Asso Dry Ooodo .... 3
7f Aseo Dry Gds 2d pf.. 72 H
0 Atch Top A S F 80
5 Atch Top A 8 F pf.. 78
10 Atl Gulf A W I S S.. 154
irtfh Xnr
3K0O 3.J0 Baldwin Locomotive.. 113
100
500
109
330
1100
13000
200
300
300
100
500
200
390
300
100
200
100
100
4C0
060
1100
700
6500
200
100
600
100
1300
1200
1700
200
100
200
400
300
200
100
390
4200
200
300
300
1100
700
1000
6130
2290
100
830
300
000
530
209
GOO
1000
600
1030
2100
100
1600
11000
300
600
1600
200
100
1050
1300
100
890
500
! 100
3)0
800
1000
200
1 100
700
1230
2000
1600
8100
200
100
100
600
100
100
1000
Baldwin Loco pt 100
. Baltimore & Ohio .... 31
4 Baltimore A Ohio pt. . 43
8 Barrett 130
. Bethlehem Motors ...'23
Bethlehem Steel B... S3
8 Bethlehem Stl 8 pt.110
. Booth Fisheries 13
. Bklyn R T ctfs of den. 8
Brown Shoo 05
Bruns Term & R R . . OK
Burns Bros , 100
Butte Copper A Zlno. . 8
Butte A Superior Cop. 2316
Butteriek 20
Caddo Central OAR. 10ft
Calumet A Arizona .. 60
California Petroleum . 33
California Petrol pt 06
Canadian Paclflo ....122
Central Leather 84K
Cerro da Paeco Cop... 60
Chandler Motors 133
Chesapeake & Ohio .. 51 K
Chicago Gt Western . 8
Chi A Northwestern.. 81
Chi A Northwest pf .110
Chi Mil A St Paul ... 31 '4
.. Chi Mil A St Paul pf. 61
.. Chi Rock Ial A Pao .. 28 K
6 Cht R I A Pao 6 pf. . 50
7 ChIRIAPao7 pf.. 68
8 Chi Pneumatla Tool . 90
.. Chile. Copper 17H
3 Chtno Copper 35 ft
. Coca-Cola 38
3 Colorado Fuel A Iron. 38
5 Columb Gaa A Eleo . . 50 ft
1 Col Graphophone 42
1 Continental Candy ... 11
3 Consolidated Textile . 27
7 Consolidated Gaa .... 77
7 Continental Can 82
.. Con Interstate Cal M. 17ft
4 Corn Products Ret .. 81
12 Crucible Steel 214
. . Cuba Cana Sugar ... 46
7 Cuba Cane Sugar pt . 80 H
.. Denver & Rio G pf... lift
3 Elk Horn Cool 22
6 Endlcott-Johnson ... .130 ft
.. Erie 13
. . Erie 1st pf 18i
3 Freeport Texas 22
8 Famous Flayers-L ... 75
.. Famous Players rts ..87
.. Fisk Rubber 38ft
3 Gaston Wma A Wig .. lift
0 General Cigar 65
8 General Electrlo 15H
12 General Motors 272ft
6 General Motors pf . . .. 81
6 General Motors deb... 70
0 Goodrich B V 3ft
7 Goodrich B F pf 05ft
, . Granby Consol MAS. 10 ft
1 Gt Northern Ore ctfa.' 36
7 Great Northern pf ... 4ft
.. Greene Cananea Con . 33W
.. Gulf States Steel .... 07
5 Hartman Corp 90?4
4 Haskell A Barker Car 55
.. Hupp Motor Car 13
C Inspiration Con Cop . 53
.. Interboro Con Corp .. 3ft
.. Inter Con Corp pf... 11
. . Int Agrlcul Corp .... 17
C Int Harvester 121
.. Int Mer Marine 33 H
0 Int Mer Marine pf... 87
.. International Nickel . 22 ft
.. International Paper . . 78 H
6 Internat Paper pf ... 73
. . Iron Products Corp .. 11
. . Jewel Tea 15ft
1 Kelly-Spg Tire 123
7
4
10
.50
Kelly-Spg T 8 pt.. Sft
Kelsey Wheel 71
Kenneeott Copper .... 28ft
Total eaJea, 127.100 shares, comnaxed vrtthl.451.400 shares yesterday,
3.430, 100 shares.
35
Mft
3
44ft
87 ft
88
116ft
18ft
130 M
11s
48 ft
13H
21 W
109
07K
13
81ft
81
108
10ft
03 ft
41 !i
02
128
84ft
B7
7ft
13S
10M
104
18ft
57
8ft
50 ft
7ft
7SH
78
151
10ft
100
Mft
43
lltft
21ft
80 ft
110 X
lift
8
05
54
100
8
23 ft
20
18
eft
33
06
121ft
82
50
128ft
51ft
8
80
110
33
50
25 ft
88
68
84
17 ft
35
37 ft
36
58
10
lltt
27
75 M
80
17
80 ft
X08
45
80
10
21ft
128
Uft
18H
22
74
86ft
57
12M
65
166 ft
re3ft
soft
76
72
95
16ft
36 H
71
33J
61
80ft
85
1334
61
3ft
tl
17
20
.11
86
21
75 ft
73
41
lft
122
09ft
72
28 ft
Today'a Net
Close Chct.
38 3ft
00ft- ft
44ft " ft
88ft ..
813
116ft 3
41 ..
13 IX
118
46ft 1
13
33ft
110 H
Mft
13
108
lft
04
43ft
13
128
84 ft
07 ..
6
136 ft ft
103
481
171
87ft H
n ..
82 1ft
73ft ft
80
78
153ft 3
111 ft
100
81 1ft
IS
120
31ft-
00M-
110-
llft
B
9S 3ft
0ft ft
100 s
8ft ft
23ft- ft
20
10 1ft
0ft
33 - 1ft
001
122 1ft
84 - 1ft
50
132M- 3ft
51ft ft
8 ft
81
110 -ft
14ft 1ft
511
26ft 1ft
68M
C8
005
17 ft ft
3Sft 1
38 ft
38 - ft
66 ft ft
41 ft
11H ..
27ft ft
77 1ft
823
17- ft
80ft
211
45ft
80M ft
ft ft
22 1ft
100ft 1ft
11 ..
18
22
75
86ft
38
13ft
65
157
105 -
BOft-
76
73 - ft
5 ft
40ft 3
36H
74J.
33M
67
90M
65
1331
f3
17-1
121
33
871
22ft
77X 2
733
44 ft
16ft ..
123 2
99ft ..
71 2
28ft- ft
Dlv.
In I
tlalei
3100 1 .110 Keystone Tire A Rub
noo Lackawanna Steel ... 77
100 .. Lake Erlo A West... 8
888 .. Le Rubber A Tlr .. ss
300 3.50 Lehigh Valley 4114
.. wim in 39
. Loft Corp ...,,,...,. 10
.. Loose-Wiles Biscuit .. 51
13 Lorlllard P Tobacoo.,188
4 Mackay Cos pt ...... 64
0 Martin Rockwell .... o
.. Martin Parry 28ft
10 Manatl Sugar 114
.. Maxwell Motor 26ft
.. Maxwell Mot 1st pf.. 80
.. Max Mot 1st pf efts., lift
10 Mexican Petroleum ..181
Miami Copper 22ft
Minn A St L new .... 13ft
600
3100
300
100
800
160
100
100
300
100
100
10800
1300
100
"?? Middle Statea Corp .. 27ft
3600 4 Mldvala Steel ord.. 48 ft
800
800
800
200 3
100 A
000
100 3.50
100 7
300 ..
800 0
100 5
100
ft
ft
lft
1
ft
ft
ft
ft
3
2ft
ft
34
lft
4
34
ft
ft
1
ft
Missouri Kan A Tex . 8
Missouri Paclfta .... 24
Missouri Paclflo pf .. 43
Montana Power 63 ft
Mulllns Body 13ft
Nat Aniline A Chem.. 50
National Acme 85ft
National Biscuit lie
Nat Conduit A Cable. 8ft
Nat Enarn A Stamp. 74
National Lead 77ft
Nat HRnl Mat 2d nf 5
500 1.J0 Nevada Con Copper .. 14
100 10, New York Air Brake.103
800 S New York Central ... 07 M
iho x.OQ New York Dock 35
.50
6
1600
300
100
BOO
100
800
1800
200
3000
100
400
200
100
100
3100
500
300
3600
4300
0800
200
1000
8600
7C0
10P
1100
600
700
200
1400
400 3
600 8
16600 C
200
3000 4
800
3000 8.70
100 ..
1200 ..
400 1
2700 ..
100
500
28000
100
7700
300
-0000
COS
800
800
3500
000
600
3800
3330
2100
300
200
100
59o
5800
700
100
1300
3200
500.
7100
200
100
New York N H A H.. 26ft
New York Ont A W . . 16 ft
North American ..... 65
Northern Paclflo 75
Norfolk A Western .. 3
Nova Scotia 3 A C. . . 61
Ohio Cities Gas 4334
Ontario Silver Mining. 7ft
Okla Prod A Ref .... 8ft
Otla Elevator 128
Otis Steel 31ft
3 Owens Bottling Mach. 45
S Paclflo Gas A Elea ... 51 ft
1 Paclflo Mall 37
8 Pan-Amer Petrol .... 81ft
Pan-Amer (B) 78
3 Parish A Bingham .. 40ft
3 Pennsylvania R R ... 41ft
. Peoples Gas Chicago.. 40ft
. Pere Marquette ...... 29
5 Pere Marq prior pf . . . 62
3 Philadelphia Co 37 ft
. Fierce-Arrow Motor.. 60ft
. Pierce Oil 17
8 Pierce Oil pt 92ft
. Pittsburgh A W Va.. 25ft
1 Pond Creek Coal .... 18
8 Pressed Steel Car .... 02
8 Pullman 112ft
5 Funta Alegre Sugar . . 83
3 Ray Consolidated Cop. 20 ft
8 Railway Steel Spring. 92 ft
C Republlo Iron A Cteel.108
. Rcploglo Steel 41
4 Reading 73
Remington Typewrit. . 77
Royal Dutch NY... .101
St L Southwest of... 33
. St L San Francisco.. 17
1 St Joseph Lead 1334
. Saxon Motor 16 ft
. Seaboard Air Line ... 634
. Shell Trans Trading.. Sift
. Sinclair Consol Oil .. 38
6 Sloss ShefC S A I .... 71ft
6 Southern Paclflo 85J4
. Southern Railway ... 21
7 Studebaker 05
4 Stromberg Carb 68
5 Stutz Motor 116
. Tenn Cop & Chem ... 10
0 Texas Co 179ft
. Texas A Paclflo 33ft
. Tobacco Products ... 75ft
. Transcontinental OH . 22 ft
. Union Oil 30
0 Union Paclflo 118
4 United Alloy Steel ... 40ft
0 United Fruit 188ft
. Un Ry Investment... 10
. Un Ry Invest pf .... 25
3 United Retail Stores.. 76
. U S C I P A Fdy...
U S C I P & Fdy pf,
U S Food Products.
5
2
8 U S Ind Alcohol 05ft
8 U S Realty A Imp... 17
200 3.50
3000
230
100
1200
330
100
100
100
1600
1400
100
100
390
000
TlOOQ
200
600
500
1500
U S Rubber 105ft
U S Rubber 1st pf ...113
U S Smelt A Ref 67
U S Smelt & Ref pf.. 16ft
U S Steol lOoft
Utah Cbpper 73
Utah Seo J. Oft
Vanadium Corp 10
Vo-Carollna Chem ... 61
Va-Car Chem pf 108
Wabash 7U
Wabash pf 21ft
Westlnghouse E A M. 51ft
Western Maryland ..loft
West Maryland 2d pf 17
Western Paclflo 23
Wheeling & L Erie... 11
White Motor 56ft
Willys-Overland 27
Willys-Overland pf ..88ft
Wisconsin Central . . 28
Woolworth F W 12334
Worthlngton Pump . 8334
Thus far this
Hlch Loir
30 2SM
75
8M
3034
lltt
28H
18ft
50 ft
158
61
60
25 ft
114
28
50
49ft
176
21
12ft
24 ft
40
734
23 ft
40
63 ft
13ft
7ft
38 ft
110
8
73
77 ft
8
14
103
66 ft
35
28ft
16
65
74
OS
60
4334
7
8
128
31
64
51ft
37
80
77
40
40
35 ft
28 ft
62
35 ft
5634
1634
02 ft
S3
1734
01
112ft
83
20 ft
03 ft
106ft
41
70
75
00ft
23
1634
15 ft
1534
634
soft
35 ft
71ft
84K
39
03
1,0
113
H
176
33
71ft
21
28
117 ft
45ft
183
Oft
23
71ft
16
45
58
92
40 ft
102 H
113
COft
16
09
71ft
9ft
17 ft
6354
108ft
734
21ft
50 ft
9ft
17
23 ft
10 ft
65 ft
2 34
88ft
27
123
80
Today's.
' Close Chre.
' 30ft lft
75ft
8H- tt
831
4134 34
3814 ..
18ft 1
511
158 3ft
64
60
35ft ft
114 334
3G
508
4ft 8ft
178 - 34
33ft lft
13ft lft
37ft 34
48ft ft
81
24 ft
40
3ft- ft
43ft ..
53 1
38ft ft
116 1
8ft ..
741
77ft ft
5
14 ..
103 3
734 y
-8 - 3ft
26ft ft
18 - ft
585
74
131
00 3ft
1334 34
7ft ft
8 - ft
128 54
31
84 3ft
lft- lft
37 31
81ft lft
781
10ft lft
41 ft
40ft 6
20 ft
0334-
37ft 34
8ft 1
17 ft
03ft-
23- 1
.18 ft
13
113ft ft
83
30ft 3.
2ft 3ft
107ft ..
41 -1
73 134
77 - 134
100 ft
23 - ft
17 34
15ft- ft
lft lft
634- ft
81
3754 lft
71ft ft
95 ft 1
21 1
9334 - ft
68 34
113 3
Oft- ft
178ft 3ft
X3ft 34
75ft ft
23ft 34
39 ft
118 34
15ft ft
183 ft
10 34
25 3ft
781
LAKE SUPERIOR WAS WEAK
SPOT OF LOCAL MARKE
Slump in Philadelphia Rapid transit Outstanding Feature
Week's Reactionary Movement
16
15
60
16
45
58ft-
91 lft
16ft ft
101J4 1
113
67
40 -
100ft 34
72 ft
9ft ft
16 2ft
0334 3
108ft- ft
734
21ft
51 ft
10
171
23 134
11 ft
86 lft
271
88ft- 34
1V334 154
81ft ft
Continued 'heavy selling of Lake Su
perior Corporation furnished about the
only noteworthy feature of today's brief
session in the local market. The stock
was under liquidating pressuro from the
outset, which depressed the price to 17,
the lowest It has touched In two years.
Near tho closing thcro was a rally to
17. While some effort has been made
to associate tho weakness of the stock
to some hitch in the negotiations witn
tho bondholders of the underlying rail
road properties, the movement has more
the earmarks of the enforced closing out
of extended speculative accounts.
The dealings In the other local shares
were on a limited scale and almost wholly
void of Interest or feature, being al
most entirely of a perfunctory charac
ter. Among the few exceptions was the
spirited recovery In American Stores,
which nas elevated to 30. or 1
above last night's closing. Electric
Storage Battery was another, making a
recovery of $3 to 118.
Elsewhere It was merely a cose of
fraction juggling. U. G. I. advanced
Vi to S3. Union Trnr-tlnn nml TMlnrUl.
phla Traction advanced V., while Phila
delphia Itanid Transit was unchanged.
The weakness which cropped up in
different parts of the list In the local
market during tho week was a natural
sequence of the times. Considering the
general unsettled state of nffnlrs mar
ketwlse and the surrounding disturbing
and depressing conditions and circum
stances, 'it is in some ways remarkable
the local stocks have stood up as well
as they have throughout the sevpre test
to which nil the security markets have
been subjected.
Throughout the week the market was
found to be cxtrcmelv thin. nnrtlfnlneU-
for some of the higher -priced speclal-
wea. xue movement in several of these
Issues uas entirelv anil nhonlnt.W
speculative origin, while in others the
recaiess up-Diaaing nan only the flim
sy foundation of exaggerated or magni
fied deductions of abnormal conditions.
The collapse of the market for such
overplayed speculative footballs Is in
no way surprising. It Is more difficult
to reconcile the depreciation in tho more
sensonea aiviaend-paylng issues whose
iutrlnsic value and earnlne- nun. hm.
already been satisfactorily demonstrated
ueyona aispuic-
In the individual or collective declines ' h"?Ua":.VBn,S.S,,Me f St
of the local stocks there wob nothln
tho way of developments concer
theso local corporations which couli
associated directly or indirectly with
soiling movement. The ipaspi
liquidation and tho lower level of pi
were the outcome of influences ha
bearing only as to the general sltuat
One of the outstanding developm
of the week was tho rather si
break in the stock of the Phlladel
lUpid Transit Co. to 21, the 10.
It had touched since tho stock wis
mltted to the dividend paying
Thero was many reasons for belle
the bulk of tho selling was for an
count of on estate, the identity of w
has not yet been disclosed. This
was suggested by reason of charr
of the deliveries. Some effort was t
to nssociato the liquidation with i
Bible political hostility and man!
ment changes. All of these rer
apparently were without foundatlo
Oftentimes there Beems to be an
of mystery surrounding such unexpe
movements. When, however, a cl
study Is made of the real market
ditlons these unlooked for radical t
O f n tinffAsi tiHi1ea,.t.J Tl i en
for Instance, was offered rather fr
nt a tlmo when the buying power ol
market was exceedingly feeble. O
a time, when market interest, Ins
as tho general public is concerned
shrunk to insignificant proportions
similar fate would have befallen i
any of the other local shares If a
amount of stock had been offered v.
the absorption powers of the gen
market were so limited.
Not only in the local market,
practically upon all principal sec
ty exchanges, the week's developm
gave convincing proof of tho utter
possibility to run a market will
money. The embargo against spt
ation in any form precludes all po
Mllty of encouraging a widening of rr
jcet interest. In the meantime, tl
Is some satisfaction In the knowh
of stocks passing to strohg hands,
also in the signs which nro unquestl
ably present of the market scraping 1
torn. It is reasonably certain, ex
for a few Isolated spots, that mosi
tho weaker speculative structure of
market has already been elimlna
Plain sailing may still be delayed
unquestionably passed.
PRODUCTION IN STEEL
SOMEWHAT REDUCED
Car Shortage Having Effect
That Cannot Be Minimized.
Storage Facilities Taxed
New
week. 0.196,400. Same period last ueek,
RENEWED COVERING
STRENGTHENS COTTON
Market Displayed Steady Un.
dertone Prices Firmer After
Early Reaction
Philadelphia Stocks
COTTON BELT WEATHEH CONDITIONS
New York, Feb. 7. The followlnc tem
peratures were recorded in the cotton belt
this mornlnr: Naahvllle and Fort Smith.
36: Oklahoma City. Knoxville and Wil
mington. 88, Ainrusta and Atlanta, 40:
Shreveport. Little Bock. Memphis.
Meridian and Charleston 42: Macon.
Montgomery and Savannah. 44: Vleirs
burg, 46: Thomasrllle and Pensacola. 50:
Jacksonville, 62: San Antonio and New
Orleans. 54: Tampa, Galveston and Corpus
Chrlstl. 68, Thero was .01 Inch nf pre
cipitation at Memphis this morning.
New York, Feb. 7. Business was
generally quiet throughout the first
hour on the cofton exchange, but, on
the whole, the market displayed a
steady undertone and. nfter the early
reaction, prices turned firmer on trade
buying and renewed covering, selling up
to a net advance of about a dozen
points.
Advices from the southern markets
were conflicting, but enough reports of
an easier basis were received to suggest
nervousness on the part of some holders.
The receipts at the ports for the day
were estimated at 30,000 bales, against
32 702 boles a week ago and 15,653
Kales a year ago.
Previous
Hos Onen
S4.70
82.8T 82.85
30 40 30,60
2s 49 28.60
High Low Close
83 OO 34 SO 34.93
82 70 S2 SI 32.B5
30 80 80 31 30.70
28.70 28 95 '28.67
GOVERNMENT BONDS
Did
Panama coupon 2s. 1036 100
Panama registered 2s 1936,.,, 100
Panama, coupon 2s. 1938 lnfl
Panama registered 2s, 1038..,, 100
Panama coupon 3s, 1981 , 88
Panama registered 3s, 1961 88
Ask
101
101
101
101
00
00
March
May .
July
Oct
Bid.
NEW YORK COFFEE MARKET
New York, Feb. 7. There seemed to
be n disposition to take the buylnc side
of the coffee market on a moderate
scale in the early trading today. First
prices were 35 points higher on Ue.
cember and other months showed an ad
vanco of 5 to 22 points. It seemed as
though recent liquidation had been
thorough.
Price in Brawl held well ddrlng the
sharp breaks here.
Test.
Open High Low Close close
September .. 14.68 14.TB 14 60 14 B5 14.J6
l-l.UV .ll.V .VV ..,!, il,U
October .
November
December
January
February
March .
April ...
May
lJuno ....
July . ...
August .
14.70 14.44
.10 14 49
14 45
18.7!
14.85 14.85 14.75 14
14.00 18.79
18.95 14.20 18.95 14.15 18.90
14.32 14 07
14 85 14.60 14 85 14.60 14,64
.... .... ..... 14 62 14.87
It. OO 1. 0t 1S.OJ 14,74 1,S3
70A1H& Ins
war ...
420 Am Strs. 39
Bhra Law Clow
Net
chge,
war ... 6
6
38
Vl ao
20 Am SAC 20'yl 20U
ao Am Uas. 01 01
6 M
394l
20 Vi DM
01
10 tBald L..lll 111 1114-Its
040 El Stor.,118
100 tErie ... 12
10 Gen Asp. 100
1202 1.k S Cor 18
X00 Leh Nov. 62
70 I,eh Val. 42
271 Pa It R. 41 Vi
20S Phila Co
cum pf. 33
00 Phil Elec 25,i
140 P R T tc 22
10 Ph Tract 60H
35 tReading 71 Vj
lullTon liel.
150 Ton Min
405 Un Tract 34V4
OUUUI,,, M
200 fU S Stl. 00
118
12
110
12
100 10U
17 18 -
62 62-
41 42 -
40 41.
3
33
25
22
60 Vi
T1
2A
34
52
00
33
254--
22..
60V1
71V41
2..
2
34 ..
62
09- $
Total sales. 4518 shares, compared with
12.691 shares yesterday. Thus far this
week, 58,245. Sajne period ast week, 29,
341. tNet change made bv comparison with last
sale on New York Stock Exchange.
Sales In BONDS Net
(1000 High Low Close chgo.
3 Bald Loco
1st 5s ... 07 07 07 1
2 I.eh Val Os.100 100 100 . .
1 do gen 4s.. 71 71 71..
22 Lib Bonds
4th 4V4s. 00.38 00.38 00.38.02
10 l'a gen os. euvi o'J'j buv
2PB &W4s 06 00M.
1 Un Ry Inv
5s 71 71 711
00 00
8::
Total. $47 000. compared with 185.100
yesterday. Thus far this week, 1293,200,
r-aroe period last week, 1209,000.
DIVIDENDS DECLARED
Haskell & Barker Car Co., quarterly of
II, payable April 1 to stock of record March
16.
United Dyewood Corporation, quarterly
of 1U txr cent on common and 7 tmc nn
on preferred, payable In auarterly Install
ments Common Is pa able April 1 to
stock of record March 16 and preferred
April 1 to stock of record March 15, July
1 to stock ot rerora june la October 1 to
stock of record September 15 and January
4 ID.I, U BVUUIV w
1920.
record December 16,
Trado Was Qood on Paris Bourse
Parts, Feb. 7. Trading was good on
the bourse todar. Three tier cent rmi..
were quoted at 58 francs 70 centimes j
excuunsB un ajuuuuu, to xrancs, uu cen
times! D per cent, 87 francs, 75 cen
times. The dollar wos quoted at 14
BUYING POWER POOR
IN MARKET FOR CORN
Prices Sag After Ranging Up-
ward in Initial Dealings.
Traders Sell Oats
GRAIN BELT WEATHER FORECAST
.oS?. SgrbVSJi y'o"n,0.ng'
Mostly cloudy tonight and Sunday. soSth
Dakota Fa r and warmer tonhrht' i,7S
unsettled. Nebraska F,, ? tonight "255
Sunday. Kansas Fair tonight and Sun
day. Montana-Unsettled tonight and bZ
Chicago, Feb. 7. Buying power in
corn was disappointing this morning,
and the market sagged after It had
ranged upward in the initial trading
i..o utvc luiieu sumcienr confidence to
resume tneir pressure, and were en
couraged by an easier tone in foreign
exchange.
Receipts were 210 cars.
May opened at $1.30 to $1.31
against $1.30 at the end yesterdav
July started at $1.27, compared with
$1.27 at the end yesterday and later
sow at i,i. September started at
$1.25 to $1.24, and later sold ,
$1.24.
Traders sold oats, following tho de
cllne in corn, and prices also ln.r
ground after n firmer start. Commls
slon houses, however, purchased at the
outset.
The arrivals here today were 72 cars.
May opened at 77Vic toj77c, ogalns't
76c at the end yesterday, and le.
cllned to 70c. July ranged from 70c
to 70c at the outset, nml i.t. ,.
at 09c. ' " DU,U
The receipts of wheat here today were
10 cars.
Open
14.69 um francs, 00 centimes.
Corn
Frbruary. ,
iay
July
Oats
May
July
fork
May
July
Lard
May July
Illbs
Muy , , . ,
l.aos
1.30i
1.27k
TTH
OH
High
l.aVi
1.31
1.2T.
. 70'
.34.70
77W
OH
76H
..21.60
..22.00
.18.70
34.80
84,60
21.50
2,00
la 70
18.95
Low
1.84U
84.45
84.30
21.83
21.82
1.S3
18.90
Close
l.UItt
1.29
1.25
68 J,
84,50
84.80
21.85
21.82
Yorlt, Feb. 7. If anvthlno-.
production of tho larger steel plants has
been reduced somewhat during the last
week, as reporN received In local quar
ters indicate that the car shortage is
naving an effect which cannot be mini
mized. Some of the larger plants have
products ready to deliver, but find it im
possible to secure tho equipment from
the railroads with which to ship out the
products.
As a result some storage facilities are
being taxed considerably and there is no
relief in sight. In addition to interfering
with shipments quite a few comnlnint
are heard that shipments into the plants
of raw materials are being held up, and
it is probably true that this latter con
mtlon is doing more toward curtailment
than any other factor.
mniere h1s ?een ,D0 Iet-uP J the de
mand for steel products and the attitude
of the buyers appears to be unchanged.
Consumers are coming into the market
right along with Inquiries, some extend
! ftrfdelivies UP to the beginning of
Im V" garter of this year. Most of
this business is not being accepted, and
rn,wl0t .likely,,that the a"itud" i
makers in this mnn.i.. ...m 1..
fn5Jd UDu'l such .time as th situation
indicates what can be done in the futnre.
Labor scarcity continues, but this is
due probably to the policy of discrimina
tion shown on the part of the managers
of properties. It is stated that the in
crease in wages which has been granted
;jummo.n labor did not result in anv
Sw1Ce the avaUable , an d
view of the high wages being paid in all
fll 5e.finit.e develPt will come
ft2J? tt.e wafe increase.
The fact that .., 1
.it: 11 -"?" utus rej ce
climne all new business at present be.
SEPhSfWbf01 up V "' h
first half of this year has resulted in
only increasing the aniiety of some con"
3er8,t PIace,rdS' Premiums are
aga. .ubeinf, Pald for Inlny products,
and the belief prevails, .t least In in
dependent steel circles, that an actual
advance in nrlee miiot nm. .""
later -- u..lc ouuner or
,P, f, co"rsc- he steel corporation will
hold to its policy of stability, and wi
not make a change until it is forced
upon the management, but this will only
be a.repetltion of what has occurred on
previous occasions in the trade In
fl&L?r,kCt,L ?, '??ton has
r j J. . 1'iiues until all tne
independents had made reductions, and
the same is done in a btrong situation
when others are receiving premiums.
However, when all the Independents
have finally come out openly with an
nouncements that nricM imu. ,. j
vanced there is no doubt that the cor-
ioiaiiuu win loiiow. in some quar
ters it is asserted that the advance In
wages for laborers. whlM, .- ..i. 1!"
the steel corporation and followed by the
independents, must necessarily mean
higher prices eventually.
The pipe market continues to attract
chief attention In the Rteel trade. Re
ports that premiums of $20 per ton on
small lots were paid by one consumer
cannot be confirmed, but it is known
that premiums ranging from $10 to $12
Siu.u ?re lm,moa-. Tuhe material is
difficult to obtain and the makers are
sold far ahead, which has resulted in
the producers declining new business
Producers of semifinished steel are
gradually withdrawing from the market
so for as first-half deliveries are cou
cerncd. Inquiries for tonnages, which
y'nej p.ut i.0?1 duur,ne the Past week,
failed to briny about any Interest on
the part of. sellers, and it is stated that
only moderate tonnages could be se
cured if a buyer were to make a definite
offer of higher prices because deliveries
could not be given when requested
The big iron market is strong. Vol
ley furnaces have announced a price of
$43 for Bessemer and the consumers
have placed orders at the new figure
although the tonnages Involved were
moderate. However, the Indications are
that the furnaces will get all the con
tracts they can handle, and producers
are said to be more ontlmUtlr. nnn, v..
eyer before. ' " luuu
BANK CLEARINQ8
Hank clearings today compared with
responding day last twe years!
PRESSURE CAUSES
DECLINES ON
Market Opens With Stead
Tone, but Leading Issues
Sell Off Later
OILS IN BETTER DEMAI
New York, Feb. 7. The curb a
ket showed a steadier tone in tods
trading, but there were intervals w
renewed pressure caused declines
some of the leading issues.
General Motors was pressed on
market, falling from 30 to 28 a t
low- record, but later made a subsb
tlal rally.
General Asphalt sold off 3 points
i.V. h .recove.li, from this loss in
later trading, and Montgomery-Wt
after dropping from 35 to 33, advan
to above 35.
eZJ,' olIs ,were 5n better demand al
bimms moving up 1 point to 42, i
frnotr5a7K50PetrO,eUm ri'
4 to p,osive' 7 "nd Marconi
INDUSTItLU.8
Amer r HIW.
Acme Coal ''' ?,?
Aetna ExolosUes .!i;:" 7
Amer Marconi ...."' if?
Br tlah-Amer Chem ...... o
C& lEiTt .?.. cou'n" JM
65
31)
3o'i
Steairshlo '.'.'!".'I" au
Cleveland Auto ......
General Motors
Metropolian Pet .....
Montgomery-Ward
North Amer Paper
Perfection Tire .....
Radio Co . ..". ..
Republic Tire Jiubber '.
Standard Ou
Submarine Boat
IT S
Low
8
'!
"A
69
95
2S
It
?". "- M? 53.BBT.Slft I55.,83:TI
is.vo jjaitimo,., 14,787,137 ii.2ST.047 ".'.'.WW"
United Refill r.Mj.'. ..
United Profit Sharing' '.'.'.'. 2M
INDEPENDENT OUS
Allied Oil u
Alliance ji ,
nell Pet iff
Boone Oil ,. 53
Boston Mexico 1
Boston Wyoming i
Carlb Syn .....! 34 3
Cities Service "D1' ctfs.. 40 3
Coeden & Co 8
Dominion im 3
Knxlnrers Petrol i
Federal Oil 3U
tllenrock oil as
Houston Oil 100 irx
Int rtro 69 6
Livingston iai
Merrltt Ol WW!. 19 1
Omar Oil nV
phiuips Pet ...:..::::. 31 3
Prod tc Refiners gu
Ryan on ;;;,;:: i
Salt Creek Prod 48K 4
Sequovah Oil JL
Skelly Oil ;;;; 10 ,
Slmme Tt . jilA A
Tropical Oil JR 1
Un Texas U
Victoria Oil new WI! 1
white on :.::;;.. 3! 3
WTVrvi
Alaska.Br Col
Artlanta 2V4
Booth a
Caled Mining 38 8
Canada CoDDee lit
Candelarla Mln
Cresson Cold 2
Divide Ext i
Eureka Croenus 1H
Fortv-nlne Mining IK
fioldfleld Cons 14 1'
Ooldfleld Kewanas
Ooldfleld Bllver Pick,... .. 0 I
Ooldfleld Zone 31 21
Great Bend 2
Jumbo Ext B i
Knox Divide m I
Louisiana Co A
MarNamara A
Mother Lode Bo 6i
Murray Moa- , 70 7'
Nlplsslng 1011 li
North Star 0 I
Rex Cons , 8 '
Rochester Mines 18 II
Rope Oroup A
Silver King of Arizona ., l
Potith Ami P & O 1'i !
Success Mlrr 6 I
Tonopah Cash Tloy 8 I
Tonooah Divide 21 1
Tonopah Extension Sli
'lonopan.jim uuuer ;
Tonopah Mlpah n I
Tonopah Montana 12 II
Tonopah Rescue Eula . , , , 22 . 21
llnlfed Eastern ST .'
West End C 1T4 '
White Cap 11 11
White Caps Extension ,,3 !
Wllbert T
Yerlngton 3(4 !
IlpNDS
Allied Packers 0s 79H V
Belgian Govt 6s, '25 On A
Busslan 61 20 2
slon Ufts , - "
Hubs
MNEY-LENDINQ RATES
PHILADKI.PHIA Call, 6 per ceu
time, 6 per cent! commercial PPe
three to six months, fl per cent.
LONDONMoney Is quoted it 4
per cent. Discount rates, short oil
fiX 13-10 per cent; three mont
bills, 6 5 3-10 per cent.
fMaktsM'r
Mi
MmmM&&s&iJb'
i,"r,a.iri.,- :. XiljaV .'.(;,'.
7V7ez!T?3t ''' Mim,wiRijiMmmjB "WfTWvriTTirfnmiSmk
WFViBMA-