SMi&fl1 s. - -. & r'f EVEKIKG PUBLIC LEkGER-PHILADELPHIA, FRIDAY, FEBRUARY 13, 1920 NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS B W i 114 . O' k Consumers Power Co. General '& Refunding Mortgage Ten Year 7 Gold Bond Price 98 and interest Yielding over 7.28 7 Serial Gold Debenturei At prices to yield about 7.75 Complete rlrrulara on those attractive Issucn tent on request for J' C -282. TheNationalQty Company Correspondent OlBcca in over 00 Cltlea Philadelphia U21 Chettnut Street Atlantic City Challonte Block 1225 Boardwalk LIQUIDATING WAVES AGAIN PDA Y HAVOC WITH VALUES Before Downward Movement Was Checked Prices Were Forced Down 2 to Over 10 Points Vs APPROXIMATE YIELD OF Kennecott Copper Corp. Ten-Ycat Secured Gold Bonds Secured by capital stock of the Utah 'Copper Company, having a present market value of 2Vz times total issue of bonds. Revenue for poorest of last five years equalled about six times interest charges on this issue. f Irrutar on request Bonbright & Company AtORlUM WISTAH STROUD. Jr. MVinaecr 437 Chestnut St., Philadelphia New York Koetou Chicago Detroit New York, Feb. 13. The market this morning was swept by unother enor mous wave of liquidation, with pro nounced results lu ho far as a further marking down of values was concerned. While there was nothing particularly alarming In the overhollday develop ment"', the opening disclosed a remark ably heavy accumulation of liquidating orders, Thce were paid to be about equally divided between tho domestic and foreign account. Coupled with the concentrated attacks ou many of the leading Isrucs by powerful bear com binations, prices melted with alarming rapidity all along the line. It was In the speculative industrials the liquidation appeared to be the most urgent, although the standard rails also continued to weaken, which was partly ascribed to the foreign liquidation, which in the opinion of borne close observers has been nn important factor in the shakedown of security values through out the week. The rail group were also adversely affected by the uneasi ness manifested over the labor situa tion. For the first ninety minutes of tho trading, however, the market was acutely unsettled, nlthough without the first signs of cither demoralization or anjthiug approaching panicky condi tions. On the contrary, the declines while reaching extensile and alarm ing proportions were conducted entirely on an orderly sqale. From the outset until near midday the market continued to weaken under the Increasing pressure directed ngaiust the highly speculative issues, under the lead of General Motors and Crucible Steel, which reacted. 10 and 11 'points respectively. Among other industrials tho reversals ran from 2 to 8 points, the railroad shares at the same time adding moderately to the initial de clines. Tobacco, leather and food stocks were the weakest of the so-called spe cialties, forfeiting 3 to 5 points. Toward noon there was a perceptible lessening of pressure In all parts of the list which was partly attributed to the hopeful view of the street of the con ference between the President and the representatives of the railroad brother hoods. Rallies were noted in so many stocks as to make many believe that the market in a majority of issues reached bottom, but similar ideas had prevailed at all stages of the downward movement which carried prices to the low levels reached this morning. Profit-taking on the part of the short interest nlso was an important factor in bringing the reversal in the market trend. In all events, featured by the oil and bhipping shares, rallies of 2 to 5 points from the low-water mark of the morning were established nil through I the list by midday. NEW YORK BOND SALES Summary of Individual Transactions on New York Exchange NEW YORK STOCK EXCHANGE TRANSACTIONS DlT. In I Bale 00 109 1.100 1000 1700 300 2600 BCtoo 3701) 700 300 4000 300 331)0 $00 3S00 100 300 8C90 300 1000 100 OOP 300 GS30 800 400 C3100 700 1400 S3700 300 7000 10390 300 HO 700 400 5790 200 1S0O 100 100 loeo too 100 3700 3.50 420O 7 00 390 4 High 38 OS OS IK Am Smelt & P.r 5s iooo .... ss'.i Am Tel & Tel clt 100O .. . 77 4000 . . 77 Am Tel & Tel Co 5s 1000 . .. 81 S000 81 Am Tel & Tel Co 6s 3000 ... 00 inoo oo I 2000 . 06 3000 . . 0" : 3000 . . 8i ! Anglo-French B 5s WE HAVE MARKETS IN American Wnter Works i:iee. Si, 1034 United Traction (I'gli.) on, 1997 Southern Traction (I'eIi.) S, 19S0 Jonca & I.nuKliUn Meel 6. 1939 Federal M. IM. A al. Pat,.. 6s, 1043 Duqueane Traction d'cli.) So, 1930 Duqueaiif. Light C. 1919 Conaollflnleil inn (Fgh.) .la, 1048 ThOMipaon C'onnellallle 5a, 1931 tllnnlnghlun (Alii.) Hater Sa, 19"9 Dearer Co. Light Co. fl, 1940 Itoclno (Wis.) Water 5a, 10.11 Moore, Leonard & Lynch Cuahman Ncwhall, Mgr. Ititz-Carlton Hotel 1340 Walnut St. New- York. Ill Broadway Pittsburgh. l"ri.k Building MEMBERS NEW YORK PHILADELPHIA 4 PITTS BURGH STOCK EXCHANGES JJUY bonds when prices are low and the yield is high. We have an interesting word about this situation. Will you hear it" Baker, Ayling & Young Land Title BIdg. Boston Philadelphia oiHi . 01 .. Ultt 04U 94 04 . 94 .. 94 ...04 . 04 . .. 94 . 94 . . 01 . 94 . 91 . 04 .. 94 . 04 . 04 . . 94 rtepub . . 73 Co 4a . 83 83 S Fe 4s . 75 10000 11000 3000 1000 8000 sooo r.ooo 50000 1000O 33000 3000 400O 3000 4000 104000 8000 33000 34000 r.ooo 1000 Argetln 4000 . Armour & 5000 . 1000 . Atch T . 3000 . 1000 . 75 5000 . . 75 3000 75 3000 74' Atch TiSPucvta 1000 . 05 1000 .. 65 Atch T & S Fe aj 3000 ... 68?i Atl Coast Line clt 1000 .. 68 Atl Coast Line 4 s 1000 75 Baltimore & Ohio cv 5s SOOO 1000 1000 Chi n tooo 01 61 . 01 I & Pac 4a 05! City of Bordeaux 6s 5000 .. . 90 C of Marseilles 6s 6000 . 90 City of Paris B 6s 100O . . 89 1000 ... 90 1000 . 90 Clev C C &. StL- 4 v SOOO . 73 Con Gas Co 7s Penna It K en 4 lis 1000 . .. 80 Penrra-RIt em 4H 3000 .... 79 SOOO .... 70 3000 .... 70 3000 .... 701 St L & Sweat RR en 3000 .... 40 C000 .... 40 Third Ae R R 4s 1000 .... 46 i Trl-Clty R & L- C 5s iooo .... no Advance Rumelv . . O Advance. Rumely pf Ajax Rubber ,.,,., . . Alaska Gold Mines .. Allls-Chalmern ...... 38 ji a Am Agrlo cnem 85 8 Am Beet Sugar 78 Am Beet Sugar pf , . 01 8 Am Bosch Magneto , .100 . . Am Can 43 U 7 Am Can pf ts 13 Am Car & Fdy mri 4 Am Cotton Oil 434 SO Am Drug Syn 12U Am llldo ft Leather.. 185 Am Hlda & Leath pf.10 Am Ice 38 U Am Ice pf A3 Am Internat Corp ... B1K Am-La Franco Engine, 13 Am Linseed 70 Am Linseed pf , S3! J Am Locomotive) 8716 Am Malt & Grain ... 31 J4 Am Ship & Commerce. 1814 Am Smelt & Re! .... C8?4 Am Snuff 8874 Am Steel Foundries. 41 Am Sugar Ref r 131 Am Sumatra Tob ... 70 Yz Am Tel & Tel 7li 30 Am Tobacco 22JHi 6 Am Tob Sec temp ctfs. 68 i 7 Am Woolen 12414 7 Am "Woolen pf 103' .. Am Writing Paper pf. 44 14 Am zina Lead & Sm.. 15 Am ZIno L & Sm'pf. . 0J4 Anaconda Copper ... 55 Abso Dry Goods 40H Atch Top & Santa Fo. 77J4 Atch Top & S F pf . . . 76 Atlantic Coast Line.. 85 Atl Gulf & W I S S..146 Atlantic Ref 7 pf... 113ft Auto Sales C torn ctfs. 14 Baldwin Locomotive.. 108 J Baldwin Loco pf 99 Baltimore & Ctilo ... 33 Baltimore- & Ohio pf. 43ft 4 8 3 7 10 8 C 4 "a 5 7 10 100 8 Barrett IIS m 100 ' 7 Barrett pf 106 Pennsyhania RR Bs Union Pacific RR 4s 3000 .... 89 1000 .... 80 Pere Marquette 5s 4000 .... 80 000 83 Union Paclfla RR Cs Long I R R 4s of 3S 3000 ....100 0000 9000 1000 3000 1000 6000 1000 1000 90"i 99 90 09 00 09 99 99 Den & Rio Grand fd 1000 .... 40 1000 . . 40 3000 . . 40 Dom of Canada '26 10000 . 03 4000 . 93 1000 . 03 Dom of Can 5s '21 3000 . .. 97 Dom of Canada '29 1O0O .. . 03 1000 9301 3000 . 9314 3000 . 93 Erie R R Geir Lien 4000 looon 2000 1000 3000 3000 4000 10000 59 59 50 69 59 59 50 50 Baltimore & O 3is 3000 . . 79 3000 . 79 Baltimore & Ohio 3s 1000 . . 61 3000 . 61 30U0 60 1000 60 Baltimore & Ohio 6s 5000 3000 Hudson 0000 8000 5000 . Hudson 35000 . 35000 30 . 39 Man fd . 65 . 54 51 Man In 13 13 '3 111 Central 4s of 1000 . . 66 Illinois Central 512s 3000 .... 90 Imp Jap Govt 1st 1000 71 5000 71 3000 73 1000 . 71 Imp Jap Govt 2nd 3000 3000 3000 soon 4000 3000 3000 83 81 8 Hi 83 81 81 81 LIBERTY BONDS $50, $100, $1000 Bought Sold Recommended for Investment Newburger, Henderson & Loeb t UANKKKS 1410 CHESTNUT STREET Members rw ,ork and I'blladflplila stock liichantrs BARGAIN DAYS IN BONDS Railroad Iasue at the Lovoit ia Fifty Year Ltt Ut Submit Offerinf EDWARD V. KANE & CO. Morris Building B & O So Wet 3as 1000 . 70 Brook Rap Trans 7s 10000 ... 30 Cal Gas & U Co us 5000 . 83 Cent Lcathre Co 59 3000 . 94 13000 . 94 0000 . 91 Ches fr Ohio Rly cv 3000 70 Chea & Ohio cv 5s 3000 . 75 7000 75 3000 . 75 l 1000 . 70 Ches & Ohio R 4i-s 4000 . 73 6000 . 73Vj ' 4000 73 Ches i Ohio cv 4 a I 3000 70 3000 70 i 4000 70 I 5000 70 I Ches . Ohio R R 5s 3000 90 , Ches & Ohio R cv 5s OIL FIELDS OF VENEZUELA AND COLOMBIA WITH MAP This booklet will tladlv be furnished on request Geo. A. Huhn & Sons fstorka and lUinda UELT.15VU13 COllir lit ILDI.M1 1418 Walnut M 1'IiIIj. y OtTlc 111 Hro.ilay 4000 1000 1000 3000 1000 6000 Chi fc 1001) Chi 1000 3000 75 75 75 75 75 75 Alton Char 5 Alton 3-4 30 301 10000 ... 70 7000 . . 70 3000 . . 70 6000 . . 70 5000 . . . 70 Imp Jap Govt 4s 9000 .... 57 1000 08 3000 58 1000 . 58' 3000 . 58 5000 57 1000 58 4000 58 6000 . 57 In Mer Marine 6s iooo .... 88 6000 88 5000 . . 88 3000 ... 88 Inter Met Co 4 Via 3000 . 15 1000 . . 15 3000 13 5000 .... 15 40000 ... 15 18000 15 Inter Rap Trans fd 15000 79 10000 40 10000 . 40 19000 . 48 5000 . 401i K C Ft S & M R lis 3000 . . . 98 Kings Co U RR 4s 3000 . . 50 Kan City T Ry Is 1000 . 69 L S & M 4s of '31 3000 . . 70 Lehlsh Valley 4jS 1000 ... 86 Lehigh Val R Co Cs 4000 . . . 00 Mid Steel & Onl 59 1000 83 1000 . . 8J 3000 . 83 1000 . . 83 Mo Kan C & Tex 4b 10000 ... 57 Mlssoutl Pac gm 4s 5000 .... 83 Louis &,Kash RR 4s 3000 .... 80 Rep of Cuba 5s '04 1000 .... 91 R I Ark & Lo 4VJe 1000 ... 60 Seaboard Air L fd 10000 . . . -44 Southern Pacific cv 6000 .... 97 1000 07 Southern Pacific fd 3000 75 Southern Pacific 4s 5000 . .. 67 Southern Pae cv 4a 1000 77 6000 .... 77 4000 77 Southern Pac cv 5s 13000 . . 07 16000 .. . 97 0000 . . 97 South Railways 4s 3000 55 1000 . . 55 St L & San Fran ai 10000 57 St L & San Fran In 1700O .. 40 1000 . . 40 7000 . 40 1000 40 St L & San Fran A 200O .... 54 1000 . . 54 SOOO . .. 53 7000 . .. 55 3000 53 St L & San Fran B 5000 . .. 65 St L t Mt t!i ii R is 10000 . .. 33 St L & So West 1st 1000 ... 61 3000 . . 60 6000 ....100 3000 ....100 13000 ...100 U S Real & Imp 5a 1000 .... 73 3000 76 3000 .... 75 U S Rubber Co 5s 1000 .... 83 1000 . 83 U States Steel Co Cs 1000 . . 95 SOOO .... 93 1000 . . . 05 6000 .... S3 3000 .. 95 1000 . . 05 U K of O B & I '21 4000 .... 03 3000 . . 03 6000 . . 03 3000 . . 93 U K of G B & I cts of '20 ' ioooo .... oi 10000 .... 00 1000 .. 91 U K of G B & I '37 3000 .... 85 3000 .. 85 1000 . . . 85 15000 .. . 83 3000 . . 85 1000 . .. 85 Utah P & L Co 5s 3000 70 Vlr Car & Chem 1st 3000 03 West Maryland 4s 4000 . .. 40 Western Pac RR 1st 5000 81 Wh & L D Ry 4is 1000 . . 60 Wilson Co 1st 1000 . 95 700 B 200 S 0390 5 fit 490 8 1000 790 2 700 .. 300 8 CI100 3F7 100 10 Btoo 7 Ca loo .. SI coo 400 1339 3100 1300 300 VJT403 15)0 100 5800 100 3000 lf6800 .,1300 800 300 1400 1800 1100 F1200 Cf500 .JB800 100 V13J0 '11590 ;i 890 ; 390 , too 7S90 100 300 57400 500 100 35QQ0 400 7390 3 600 17800 l: IE6000 SI. Bethlehem Motors ... 18ft Bethlehem Steel 83 K Bethlehem Steel B ... 87 Bethlehem Stl 8 pf..l09 Booth Fisheries 10 Bklyn Rapid Transit . 11 Bklyn R T ctfs of dep 7ft Brooklyn Edison .... 04 Brown Shoe : 94 Burns Bros 98 ' Burns Bros pf -98 Butte Copper & Zinc. . 7; j Butte & Superior Cop. 23 Butterlck 16 Caddo Central O & R. 18 ' California Packing ... 77 California Petroleum. . 30 ' California Petrol pf.. 05 Calumet & Arizona . . 5S?a Canadian Paclfta ....118ft Caso J I Thresh M pf. 07ft Central Leather 76 Central Leather pf . . .105 Cerro da Pasco Cop.. 47 Chandler Motors ....134ft Chesapeake & Ohio .. 47ft Chicago Gt Western.. 7 Chi Gt Western pf . Chi & Northwestern . Chi Mit & St Paul . . Chi Mil is St Paul pf . Chi RocA Isl & Pao . Chi R I & Paa 6 Pi 31 78 son 47 Sfift 5 7 Chi R 1 & Pac 7 pf. 63ft iVeii) York Curb INDUSTRIALS Hish Amer Candy . .. 9i Acme Coil l Atna Kploslea " Air Reduction .... 45 Allied Packlnr . . 27 rtrltlsh.Am Tobacco coup 17Ja Columbia Emerald . . . ri General Asphalt S3 General Motors 30 Grate Ola ... m Imperial Tobacco .... 10!-, Indian Packing- 14 V, Mercer Motorn JO Montg-omery-Ward . 32 North Amer Paper . . . T,'t Irpheum 3r Perfection Tiro . . 41, Root Vandervort . 47" nepubllo Tire Rubber 3 Submarine Boat .... 1.1 U S Steam . ... 3. United Bet Candy . . 18 ! United JTont-snarire V VlUadou Ino .. 174 INDEPENDENT OIIJ5 Low li 7. 44 24 ti 17 70 34 U 1 ia' 20 S2i BV4 28 4 47 31 134 3 13 Last 9 l. SM 7ai 24 U 1 10i laii 20 824 BH 28 4i 47 3,2 U a iflH IV, 17 Allied Oil Alliance P.ell Pet . . Iloone Oil cities Kervl',a "I Cosden & Co Dominion Duqueane . . . . Klk liasin Pet . Federal Oil Gllliland Olenroclt Oil ..., Guffey Gillespie . . 11-10 1V 1 . .. 4 ctfs 101 T'l 114 .. . 5 S ... ft'i , . S3J , . . . . 3V, 27 Va 63 52 Chi B & Qulncy 4a 3000 !U 3000 93 10000 93 Chi & Grt West 4a 1000 83 Chi M & St P cv 4s 3000 ,77 C M & St P cv 4 Vis 5000 . . 67 SOOO 66 1000 67 "HmROAD, INDUSTRIAL, PUBLIC UTILITY BONDS LIST ON REQUEST MARTIN & CO. 1411 WALNUT ST. 130O0 5000 2000 3000 3000 3000 1000 66 67 67 67 66 68 'ihiurt Preparation and Retlew of IMCOME TAX RETURNS i kf naMwratloua, partnerahlpa, Indtvlduala. ato. SJiKiSerlWornwrlir connected wli.U S.Oovt. (CaroorttUoii Tax Service Co. Wtr'tm Heal KaUto. Tnia Bid. . C M ft St P fd 4't 1000 . . 86 .1000 . . . 86 lllOOO . . . 66 10000 66 Chi i- N West 3fts 1000 64 Chi & S West 5s '87 1000 96 Chile Copper Co 7a 4000 . ..100 7000 . .io Chi R I & Pao fd 3000 8000 3000 . 53 2000 . . . 03', 4000 . 53 SOOO . tii 3000 62 Montreal T'Cos 5s 3000 . 70 N Y Air Brl; Co 6s 3000 . . . 88 XVCiHR R3"j 1000 . . 64 N Y C & H R R 6a 6000 . 90 13000 90 3000 80 6000 89 3000 80 N Y K 11 & Hart 6s 1000 64 1000 65 jf V Telephones Cs Home Oil 3 Jlou.ton Oil 92 Int Petrol 64 Island Oil 5'i Livingston IV. Maracalbo 17 Merritt Oil 18 Metropolitan pet s Morton Pet . C. No Am Oil ... 4 Omar OU ... . n't Phillips Petroleum .. 34'i Producers 3c Rennera .... 8 Salt Creek Prod 40 Penuoiah OU rr fikelly Oil OH Slmmi Pet 351. Spencer Pet 1S lexas Hanirer' 11 Teias Co nl 46 Tropical OU 17t Un Texan . 1 .V Victoria OU new 14 White Oil . 2J Woodburn 6'i 706" 1 ; l-Vj 7i; 1RV 4Vi H 5'1 38 a 27 2". 91 51 Vi 3 1t Ill's 18 2!i :; 38Vj 8 4S 9'. 33 1. "? 48 17 1 IS Sfl 6 11-10 1BH 1 8 3"1 7'i IS i 4Vsi H r. 33V4 3Vi 27'. 3 0.' 62 K 5 1'i Ifi's 18 3 2J. 4 r.vi sa 8 47! 45H 17'i Jin 0 800 EK300 3 VtSOO 400 300 1 1 0 7 390 3 1709 5 18 0 010 2470 8 390 3 1390 3 4510 .. 490 3 2411 6 200 8 36800 13 . 3000 0 5590 0 100 7 100 3290 4 2tl0 JgS7 500 990 300 1500 100 C90 200 2090 3490 1100 490 800 Gfl 300 8400 0490 8100 7100 EVB40O 500 1S0O ,200 Chi Pneumatio Tool . . 84 Chile Copper 10 3 Chlno Copper 34Ji . Coca-Cola 37ft 3 Colorado Fuel & Iron. 37 Colo & Southern .... 30 1 Col Graphophono .... 40 7 Consolidated Cigar ... 56 7 Con Clear pf 77 . Con Interstate Cal M. 17ft Consolidated Gaa .... 75 Consolidated Textile . 26 ft Continental Can .... 78 Continental Candy ... lift Corn Products Ref .. 7094 Corn Products Ref pf.lC3J4 Crucible Steel 210 Cuba Cano Suear ... 44ft Cuba Cane Susar pf.. 80ft Delaware & Hudson . . 80 ft Denver & Rio Grande 6 Denver & Rio G pf . . . Dome Mlne3 1 ft Durham Hosiery pf .1C0 Elk Horn Coal 315 Endicott-Johnson ....110 Erie 10ft Erie 1st pf 17U Famous Playera-L ... 8 ft Tederal Mln & Sm pf. 37ft Freeport Tcxaa 23J Fisk Rubber 34?, Gaston Wms & WIe .. 12 General Clar General Electrlo . . . General Motors General Motors deb Goodrich B F Goodrich B F pf . . Grav Davis 8: Gt Northern Ore ctfs. 34ft Great Northern pf . . Greeno Cananea Cop. S Gulf States Steel . . . 5 Hartman Corp 4 Haskell & Barker Car 6 ITomeatako Mlnlnc r. 1 Hupp Motor Car 13 ft 7 Illinois Central 80ft 6 Inspiration Con Cop.. 51 H . Interboro Con Corp .. 354 Inter Con Corp pf...- ! . Int Aerlcul Corp 1 6 Int Harvester " 7 Int Harv pf new 111ft . Int Mer Marina 33ft 6 Int Mer Marine pf ... 82ft . International Nickel .. 20 34 . International Paper .. 70 . Iron Products Corp . . 4s . Kan Citv Southern ...J 4 Kelly-Spg Tlra "&1 8 Kelly-SpB T 8 p... M Low 37?4 5 CSft lft 36ft 8E 74 i 1 105 4 131 ft 43 UK it loitf 38 ft 53 87 1.1 74 93 ft 82 30 i 1?4 6 ft 86 40 123 ft 77 86 ft 225 55 ft 120 101ft 43 i 15ft 0 31 40 78 " 76 85 144 113ft 14 103 ft 98 28 42 ft 11C 100 18ft 83 81ft 109 10 ft 10 ft 714 94 04 M 81 J71 22 15 17 744 37 fi" C5 5ft 115ft 97',! 105 45 ft 118U 47 7 31 75 30 ft 45 U 23 ft 54 64 ft 84 ISM 33 n 36 '30ft 30 36i V.80 Ntl Laat One. 37?4- 1?4 651 5ft- 3 'lft 38ft .. 85 114 75 - 1 91 1 105 4 4ft ft 95 Vt 126ft lft 43ft-2 13 ft -t ft 1 - l!4 104 38ft- 33 - 3ft 01M 3M 13 - ft 70 - 154 93ft- 2ft 87ft 1 30- 18ft 1 56ft- lft 88- 3ft 41 ft 125 1 77 - 3ft 87ft 34 335 15 55 ft- 34 124 ft 4ft 103ft 34 43- 2 15H Vi 60-1 65 ft 4934- ft 77ft .. 76 ft 85 ft 144 - ft 113ft . 14 lft 109 134 99 ft 28 - 34 43ft 115 1 100 3 Sales In t Dlv. 100 .. 100 7 2800 2 3100 1.20 3400 6 200 .. 300 .. COO S.St 1000 . 1200 a 3000 coo 100 400 Hleh Low Kelsey Wheek 07 Kelsey Wheel pf . . . 06 ft Kennecott Copper .... 2754 Keyatons Tire & Rub. 27ft Lackawanna Steel ... 70ft Lake Erio & West. ... 8ft Lee Rubber & Tire... 2854 Lehigh Valley 40 ft Liggett & Myora rfa. Wz Loewe Co "" Loft Corp 18 Louisville & Naahvllle.100 2334 18ft i 31 Martin Parry 10 Manatl Sugar ft ft ft lft 200 1.75 Manhattan Shirt 1000 500 390 300 100 11300 400 6100 5100 J300 300 100 2100 100 3000 100 300 100 2400 100 100 100 100 300 1100 200 400 300 10 20CO 6 400 300 2.50 100 3.50 1200 e 100 1.S0 10 3 .20 4' 1 7 . 03 .163 .'.37 . 71 . C8ft . 04 ft 70 30 CO 87 ft 1 62 77 17 26ft 78 lift 70 ft 10394 197 40 ft 78 ft 8934 6 10 ft 100 21 110 m 1734 CO 27 ft 23 r3 13 CI 1334 228 ft 00 ft CO ft 33 33 68T. 2034 834 86 ft 0 62 ft 13 (0ft 50ft 3 34 8 ft 1334 114 HI ft 28 70 ft It ?4 73 ft 40ft 13 ft 108 16 - 3ft 'i 18 ft- 8394 87 100 1034 11 94 ss - 98 -7ft-23 15 ft 17 7434- 3 302 65 5ft- 34 118 ft lft 97 ft ft 76 4- 254 105 ft 48ft lft 124 ft- ft 47ft- 1 7 - ft 21 - 54 78 30 ft ft 47ft - ft 25ft lft 4?4 Vi 64ft- 1 841 10 ft 34 ft ft 36- 54 36ft- ft 20 - ft 40 lft 56 77 17 75 26ft 1 781 lift . 7094 3 10394- 197 -11 44ft- lft 79ft ft 90 ft- ft 0 - 14 9 ft 10ft- ft 100 34 213b- 34 110 8ft 1014 ft 1754- 54 t.6 1 27ft- 194 22ft ft 3434 ft 12 - ft 63 3ft 153 H- ft 229ft- 9ft 60ft- 4ft 8ft- 34 4ft- ft 33-1 34ft ft 701 50 1 60 54 80ft- ft 51 - lft 02 ft 3ft 13ft- ft 80ft- 94 6194 14 334- ft 9ft- ft 1394- 114 ft . 111ft 1?4 31ft 2ft 81ft 3ft 10ft- ft 70 lft 43 - lft 14 U534 54 7 3 7 7 S .50 1000 2000 800 7200 5400 200 100 2000 200 100 C300 1400 100 2500 290 2200 200 2000 4990 490 300 800 700 1300 100 100 900 100 1100 1600 200 0700 100 7000 1000 200 100 400 100 2690 200 400 5800 31300 500 11800 1700 100 2300 37600 100 400 2600 6000 1400 4600 2'' 7880 . . 700 6 7300 1800 C400 10 700 4 200 .. 200 ? 400 3.50 1300 18 8.7 28 ft Maxwell Motor 20 Maxwell Mot ctfs .... 20 Maxwell Mot 1st pf .. 48ft Maxwell Mot 2d pf . . 20 Max Mot 2d Pt ctfs.. 20 Mexican Petroloum Jl8? Miami Copper 3; Middlo States Corp .. JU; Mid vale Steel & Ord.. 44 ft Mmn & St Lnow .... ! Minn St P & S St M. . 05 Minn St P & S St M P "4 Missouri Kan & Tex.. ' . Mo Kan & Tex pf .... " MlBSOUrl Paciflo -2 ft . Missouri Paclfla pf .. 37 4 Mulllna Body ..'. J 0 National Acme ? NTnt Anlllnn A Chem.. 40 7 Nat Aniline & Ch pf. 7 National Biscuit pf 5 National Cloak & S. . Nat Conduit & Cable . Nat Enam & Stamp. . Nat. Lead Co . Nat R R of Mex 2d pf . New Or Tex & Mex , .0 New York Air Brake 6 New York Central . , . New York C & St L New York Dock New York Dock pf . New York N II & Nevada Con Copper xt.iv jp. Wrtern Northern Paclfla J?i Nn RMtla S & C ..51ft Ohio Cities Gas . Okla Prod & Ref Ontario Silver Mln. Otla Elevator ntl. i,-l Owcna Bottling Mach Paclfla Gas &. Elec . . Pan-Amer Petro .... Pan-Amer (B) Parish & Bingham . . Pennsylvania R R . . Peoples Gas Chicago . Pere Marquette Philadelphia Co .... Plerce-Arrow Motor Pierce OU Pittsburgh C of P. . Pittsburgh Coal pf. Pittsburgh & W Va. . Pond Creek Coal . . . Tr.ct,nd steel Car . . Tr.aceii stocl Car pt.102 Pullman "J Punts Aleuro Sugar . 79 Railway Steel Spring. 00 ! Ray Consolidated i;op. Reading "J,, Replogle Steel "? I Republic Iron & Steel. 103 ft f Republlo iron o !""' 1 Royal Dutcn 1 . . St L San Francisco, St L San Fran pf . St L Southwestern St L Southwest pf , Savage Arms .... Saxon Motor rjnknaprl Alt Tjlflfl Seaboard Air L'.na pf. 1454 shell Trans Trading.. 81ft Sinclair Consol Oil Sloss Shell S m 1 ... Southern Paciflo .. Southern Railway . Southern Railway pf Stromberg Carb . . . Studebakcr Stutz Motor KuDerior Steel Tenn Cop & Chem . 5 G 'i R 7 8 S 8 . t3 .114 . 70 . 8ft . 70 ft . 74ft 4ft 40 95 65 ft 2334 SO 45 , 24 , 14 8054 . 40 ft . 7ft . 034 .120 29 ft 51ft 51 74 ft 70 30 40ft 30 37 ft 35 . 5234 , 10ft , 61ft . 89 . 32 ft , 17ft 85ft 6 .74 B 0 00 loft . 3354 13 24 ft 70 1594 7 10 Texas Co . 3754 . 64 . 91ft . 19 . 50 . 55 . 85 ft .101 . 42 ft . 9J4 .176 67 04 ft 27 ft 25 08 ft 8ft 2854 40 16ft 20 ft 17?4 99 2354 108 28 18 ft 18 ft 49 20 20 162ft 21ft 20ft 43 ft 8ft 3 9t 0 Oft 21 37 ft 30 35 ft 44 83 114 70 . 8ft 70 73 ft 4ft 40 93 64 ft 2334 30 45 23 ft 1454 88 08 51 38 7ft G54 120 28 ft 51 1 7154 0754 30 40 35 ft 23 ft 34 48 15 51ft 89 2154 17 84 102 10054 77 ft 90 19 OS34 30 ft 8854 100 ft 05 ft 15ft 2394 12 24 ft 70 1394 6ft 1354 78 ft 35 ft C4 SSft 18 ft 50 0 81 10054 41 Oft 168 ft Last ChK. 1:80 Net 073 90ft lft 27ft 1H 70ft- ft 8ft- 1 2854 H 1014 left . 20ft 18 8 28ft 2054 20 49 20-7 20-5 18 134 2134- 1. 31 lft 14 ft ft 9ft- ?4 65 4 4 oft- V 8ft .. 22ft 114 37ft H 38 1.. 35 ft- 154 45ft- lft 832 114 54 70 ft 8ft- W 70ft- 34 74-1 4ft.. 40 .. HIGH-PRICED SPECIALTIES HARD HIT IN LOCAL MARKET U Electric Storage Battery Forced Under Par Continued Liqui. dation in General List. Nothing in the over-holiday develop ments contained sufficient sustaining or stimulating influences to check the drooping tendency in the local market. The opening found the market much in the RHino condition as it closed on Wed nesday, except that the selling move ment was of smaller volume and ap parently of less urgent character. Two of the more noticeable out standing features attending the initial trading was the usual heavy trading in United States Steel common and the continued conspicuous thinness of the market for tho high-priced specialties. There has been relatively very little trading in "Little Steel" for some timo in the local market. Tho opening this morning, however, disclosed consider able accumulation of liquidating or ders over the holiday, many of which were "at market." Fortunately there was a fairly broad underlying demand for the stock to that the price kept in close parity with the flew York market quotation. In the high-priced specialties Elec tric Storage Battery came in for a groat deal of attention by reason of n further sharp decline of $1) to 09, which made a net decline for the week of JflW, and a drop of $55 from the high price of last year. Very small offering of Cramni """ "" i.v UU..H iu j. in, mum wu ; $(!5 under the previous sale. J i'rlccA, , However, snowed nMidoncT to Minle all along the line. nli',n.i. ' . .. .. . ' null J most ct the other changes were eonlinri) l wiunii irnciionni innitt. Ani'onoiii Stores declined 75 cento to .7, rf high Navigation was DO cent loiter nt 01 and Philadelphia Electric Minded under par to 24. These rcrcsinm were nil made, on comparatively u transactions again reflecting the extreme r.an ounces' of the current matket Lake Superior, which appeared to have escaped the initial opening Mump wns later offered freely and depressed to 15, the lowest quotation for over two years. Later it went back to 18. Tho selling movement, however, seemed to have Rpcnt its force by the end of the first hour, and before mid day the entire market developed a steadier tone. There was, in tho mean time, a moderate recovery movement, Electric Storage Battery rallied to 10'i from 00. Lehigh Navigation to 02, mak ing a net gain of point. United Ga Improvement went back to 53, anil Philadelphia Electric to par. The trad ing became Intensely dull on the recov ery movement. U 65 .. 2334- 20 47 .. 2354 ' 1454 94 8S - 2SS 88ft- H filft.. 3894- ?S 794.. 634 Vt 120 - 4 29 - 54 51ft- lft 51 54 lft 1 ft - ft ft - ft - 354 ft - ft 74 70 39 40 36 25 35 49 16ft 51ft 2ft 81 Vt 23ft . 17 1 85 - 94 102 - 1 10834 V 78ft. 90 19 V2 l!6 4 1 30 ft 3ft 9 - 1 101 54 SO ft 16 H 235 34 12 - 3ft 24ft- ft 70 .. 14 - 54 Oft 1354- ' 81ft 2ft 3754 1H C4 - 3 01ft 134 19 54 50 ft 56 - 554 85ft U4 101 6ft 41 - 3ft 954 ft 178 ft MONEY-LENDING RATES NEW 'OItK Money on call opened today nt 7 per cent for lending and renewing. . PHILADELPHIA Call, C per cent; time, 0 per centf commercial paper, three to six months, G per cent. i i Kurn Heads St. Louis and Frisco New Yorii, Feb. 13. J. M. Kurn lias been elected president of the St. Louis and San Francisco Railway by the board of directors, it waR announced today. He succeeds E. N. Brown, who remains as chairniun of the board of directors. Mr. Kurn has been general manager of the load since it has been under federal control. O. W. Ilillard has rcsigucd as treasurer, but will re tain the office of second vice president in charge of finances, it was also announced. FOREIGN EXCHANGE New Voik, Feb. 13. roreign ex change ut the opening was stronn throughout, with demand sterling nt 3.3S'h. up VA over tho close of Wed iiosday. Sterling cnbles were qinlcj a 3.39'i. Francs showed a corresponding advance, with cables at 14.32 and checks at 14.34, an advance of 13 con times. Other auolations were: Lire cables 10.08, checks 18.10; Swhs cables 0.02, checks 0.04 ; guilder cableu T7J, checks 37i ; pfsctns cables 17.50, checks 17 40; Christianla cables lt.'J'i checks 1715; Copenhagen cables 11.50, checks 34.35; Belgian cable's 13 7,1, checks 13.75; marks 1.05. BANK CLEARINGS Bank clearlnsi today, compared with m responding; dav iat two vM.ra: 1020 1019 1918 rhila ...ino.osip,iir,7 sa.i.wM.as.i joi.ms o; IWtimore 11.2-12.6,10 12.H1K.12S lloaton ., 50.100.732 43 701,428 41 001 4. J ?eexXCoThIrtV;(VoVPdl64ft ISO, 1MJ4 3ft 300 .. 11800 3 300 100 5 100 1700 3 10600 8 1200 8 29900 8 700 6 82500 5 1390 t 1708 8 100 1000 4 190 8 100 6 3100 200 1100 300 7 3900 4 000 00 10 1 7 1400 4 100 3900 609 5 13900 1 1400 100 0 Texas Sz Pacific 27 ft Tex Pac Land Trust. .240 Tobacco Products ... 64 Transue & Wms Steel. 66 Transcontinental Oil.. 21 U Union Oil J Union Paclfio ' United Alloy Steel ... 43 United Cigars pt "J United Drug ;,,1?2 United Drug 1st pf.. 60 United Fruit 180 Un Ry Investm pf . . . 21 United Retail Storea .. 075 U S C I P & Fdy 1594 usoirs Fdy pr. . 45 U S Express 1 2J U S Food Products.. 85 U S Ind Alcohol 82ft U S Realty & Imp 43 U 3 Rubber ' U S Smelt & Ret .... 63 U S Steel 7ft U S Steel pt "Jy Utah Copper J Utah Seo J Viv.Carollna Chem ... 0034 8 Va-Car Chem pf 189 Va Iron Coal & uoko. Vanadium Corp 44 Wabash ' Wabash pf ",:: Westlnghouse A Br. .107 Westlnghousa D & M. 49 Western Maryland .. 84 Western Paclfla -J Western Union Tel ... -Wheeling & L Erie . . JJ Wheel & L Brio pt ... 10 White Motor "ft Wilson & Co 0714 Willys-Overland 255a Worthlngton Pump .. 73 Worth Pump p: B 5 340 61 54 ft 30 28 110 41 111 135 ft 49 177 2034 64 1534 43 29 53 77 ft 40 81ft CO 05 100ft 68 ft 10 50 ft 10854 77 42 7ft 20 ft 106 48 854 20 ft 82 9 U It) 40 10 24 67 70 41 111 138 40 180 27ft 34 240 -CO C4 3ft 54ft ft 31ft 1 28ft ft 113 1 - ft - ft 1 - lft 2ft 30 54-- l'4 0754- 1554 V2 43 39 Id 55 83ft 154 43 - lft 06ft 54 M 3 H5I. 14 100ft- 7U 10 6034 108 - 77 - 43 - 7ft- 21 100 - 48 - 154 854 94 31 - ft 83 - lft 9ft- 16 49 - 2ft 0 3 2534 ft 73 ft 70 - ft 54 ft Vt 3 3ft 5 ft 3 Ki-dlvldend. 6000 01 3000 4000 3000 1000 100O Norf & 3000 7000 . . 03 90 03 93 Western la . .. 75 73 Norf & West cv Os 2000 . ..100 Norf fio R It Co 5a 1000 . 50 Northern Paolflc 3a sooo , . 60 Northern raelflo 4a 3000 .... 74 Oregon Short L 4s 13000 .... 80 MINING Columbia . Alaska-British Arizona Silver Atlanta. .f Itolcher DlvldB 17 Helch.r Divide Ext 18- nig ieaeo nooth Itost Mont Caled Mln Canada Copper . Candelaria M ... Cona Vlrrlnla. . Da Ileera Divide Ext Kl Salvador . 1'orty.nlno Jllnin Uolden Oate Exp Oold Cons . . Oold Development Oold Kewana nold Merger . . Oold Silver Pick . Oold Zone Oreat Fiend llecla Mlnlnc .... Timihn rir.nilnn Knox Divide 8'4 IjUUlBlAit.. WV McNamara il...h xrln Maaon Valley 3?s Motherlode J; North Star 10 Ilncheater Mlnea .. .. 22 Ilnpo Oroup i--;,; ff Silver Kinc of Arlx ... H S Blher t.ed U Tonopah Belmont 2, Tonopah Cash Boy 7V4 Tono Divide 2 Tono.JIm x Tonopah Midway 16 Tonopah lllxpah . . 7 tl H Cont ... JJt United KaaUrn ... . 3' White Cap 10, White Capa Ext j',, Wllbert 6V4 1 17 16 n n 70 70 35 S3 l.V l'f, 30 39 k ; 8 2'. l'i 1 1'i 1 13 18 11V1 18 B'4 8i "1 a 13 12 30 20 2V, 214, 4U 4U a n 8'4 S ,. r. 1". Va 2ft 2ft 17 1G .'4 70 36 IA 5'' 39 a. 2. 1U 1. 18 18 8', 3 13 "1 2H 8 - 2i 68 10 32 SELLING MOVEMENT LOWERS CORN PRICES Commission Houses Take Buy ing Side Demand Is Quickly Supplied Oats Firm Philadelphia Stocks ?i 100 Vi 30 30 Vi 00 104U 3 Cliliago. Feb. lS.-rofessional oper ators started a selling movement , com this morning and weakened the market after It had started stronger. At first commission bouses were on the buving side ami oiicnuis r.r. ...... ited. but the demand was quickly. n.roInts were 100 cars. May. opened at $1.31 to Sl.31, July started supplied !; si .31 at the close "Wednesday. "...., . 1 i H 2H 2N 7 7, 2Vi 2. 21 23 15 16 0 7 n.i nj "S14 aw 10 10 2 2 ,; ou J ,..1!J tr. 1 flflB.i nt 1 .28 to $1.28?'.. compared with SI 28'4. Wednesday's last price, and weeded to SUSl'A. September was quotcd-at $1.2S to j.w "t '" -set and sold off to $1.25. Oats opened firmer on bcattered buy ing by commission houses. Offerings ,... email. Trade was quiet, with all transactions in small lota. The arrivals were 72 cam. Receipts of wheat here today were 25 cars. . . ...... Ieadlnc ruturei ranacu .. . Co MSifMTTa5Xr Low .1? 30 fiften : JOT S:8 I:h p Oata ,D1! ' 7.1; 70 71'i May . Julv rorK May 35.10 t.?rtsi $ July 21.93 , ,IV,VU TO 714 78'4 IV7I 78K 70Ti Wed cloae 1.38H 1.3U. 7H 70 35,10 tai.87 134 87 84.83 21.47 21.05 21.30 21,75 21.8ft 21 75 Ilk tAaked. 18.52 18.42 18.42 10.10 Tl,V l. 21.45 tit.es 18.47 10,00 Hlsh Low ' 2 P m 20 Allia Ins war 0 0 C 225 Am Strs. 38Vt 37 37- 10 tBaldwin Loo pf.100 100 24 Cam Iron 40 2300 El Stor..l0S 1035 Lk S Cor 16 37 Leh Nav. 62 lOLch Val. 41 60 tMidvale. 41 SMI Pa It II. 40 75 Phila Co cum pf. 32U' 501 Phil Klec 25 50 P R T tc 22 50 Ph Tract C09i 14 tlteadlng 00 125 Ton Bel. 2A 500 Ton Mln 2 10 IJn Tract 34 533 U O I... 53 1750 fU 8 an 00 500 tWbeel & h b... n 0 25 W J & 8 36 30 23 West C. 74 74 30 W Cra'p.135 135 Net chue 15 01 41 43 40 Vi 31 24 oor.i 00 04 2 2". 31 " Bi OS', it 16 02 41 44 .. 40 32 25 22 00- 00 1 nV".'! 53 00 0-30 135 65 Net chansre made by comparlion with ) ale on New, York Stock Exchanxe Salea In BONDS Net 1 1000 Ulna Low Sim chto. 4 Elec & Pco Tr 4s ... 01 61 61 1 Leh Val 6S.100 100 100 . . 50 Lib Honda 2d 4b. 00.54 00.01 00.C41.21 7-10 Phila Klec 1st 5s ... 03 03 2 PB &W4s 00 0(1 2 Head gen 4a 78 78 0 Un By Inv 5s , 08 68 1 "Wels Co Bs 08. 08i 03 00 78 3 08 Wt,: HEAVY RAINS INDUCE SUPPORT IN COTTON FOREIGN INTERNAL BONDS We have established Direct Cable Communication with Belgium, France, Great Britain and Italy and through our agents in these countries can offer subject to change in price Wednesday Closing l'rlce at Tar ' Frlces Exchange Normal $193 193 193 486 193 Belgian Govt. Restoration 5s $80 per 1000 fra. French Govt. Victory St 65 '2 per 1000 fri. French Govt. 4s of 1917 53 '2 per 1000 frs. British Govt. War Loan 5s 320 per 100 Italian Govt. Consolidated War Loan 5s 54 per 1000 lire We arc prepared to give information concerning these and other Foreign Securities and invite correspondence on this subject. EDWARD B. SMITH & CO. Bankers 1411 Chestnut St., Phila. ELKINS, MORRIS & CO. Banker Land Title Bldg., Phila. Strong Cables, Liverpool Buy ing and Covering Factors in 48-Point Advance cotton r.ELT v;nvninr. -onihtions New York. Feb. 13 Tho following tem rcraturea were recorded In the cotton holt thla mornlnit; Vlckshurp. 34; Fort Mmlth, R: Oklahoma rity. Little Itoek. Memphla. Meridian anil Chattanooga, 38, Shreveport and Knovxllle, 40. Abilene and Atlanta, 42s Ran Antonla 44; Slonteomery ana Au. iruata, 40: New Orleitnn, Pentacola and Macoif. 48. Corpua C'hrletl and Thomaa Mlle, 62: OalveBton. Charleston nnd Sa vannah, 54 1 Wilmington and Jacksonville, 02. and Tampa, 64. There was ,01 inch of precipitation at Jacksonville; 02 at Khreieport; 14 at Chattanooga; ,24 at Knoxvllle; ,2R at Tampa, 32 at Vlckn. hurirj .44 nt Macin; 74 at Savannah1 8t at New Orleana. 1 22 at Atlanta; 1 32 at Auauata: 1.38 at Wilmington and 2.02 at ThomaaUlle. New York, Feb. 13. An advance of '18 to 48 points in cotton at the opening today was due to strong cables, heavy Liverpool buying and active local cov. ering. There was also more or lens sup port bused on further heavy rains in the eastern belt. Part of the Liverpool strength waa attributed to Manchester t tiying. Later the market here continued ac tivp, with advances well sustained, and at the end of tho first fifteen minutes was ubout even with opening IevelB. rrey. ctno Open 11 a.tn U,l iu March . May .., July ... October B4.72 82.3.1 B0 2H 29,28 S2.T7 So.76 28.76 I 82,68 80. SI 28,07 Tax Book for 1920 on Federal Income and Excess Profits Taxes UR new book, "Federal Taxes on Income and Profits," is now ready. Copies may be had on request. This book of 196 pages gives detailed in formation regarding Federal income and excess profits taxes, with special reference to problems for the taxable year 1919. Tt includes a summary of important rulings and regulations of the Treasury Depart ment, and the full text of the law. For the purpose of assisting our customers and others in the preparation of their Federal tax returns, Mr. Harry B. Sutter, formerly of the Office of the Solicitor, Bureau of Internal Revenue, Washing ton, D. C, is now associated with this office. You are invited to avail yourself of Mr. Sutter's services, which are ren dered without charge. CLAYTON F. BANKS 421 Chestnut Street, Philadelphia Correspondent Guaranty Trust Company of New York Capital and Surplu5 - - $50,000,000 Resources more than - $800,000,000 T IJlWaW Flltitft &sia llXK "" $ 1 2 . a.1,fc !- Ngl
Significant historical Pennsylvania newspapers