.w.rrwuwrTwws st-whs" 'r??-jv jt . rr t 3 r ' r, pwr v i . J " - ' ! M '"in' A - il. t i 14 - - i ST t Z i V ; r- v -w 1 P4 We Offer ' Subject te Sale New Yerk, Philadelphia and Norfolk Stock Trust Certificate 4s Due June 1, 1948 Price te yield about 5.65 New Yerk, Pennsylvania and Ohie Prier Lien 4H Due March 1, 1935 Price te yield about 7.10 Western New Yerk and Pennsylvania Itt Mortgage 5i Due January 1, 1937 Price te yield about 6.40 Correspondence Solicited Lilt of Selected Bend mailed en request STROUD & CO. IftfmbfT I'MtadelpMa Kteek Exehanet 1429 Walnut St.. Philadelphia 52 Broadway, New Yerk Correspondent TROUD, KURTZ & CO., Inc Wajhingten, D. C. M.I T tr. At a Great Discount Many bends intrinsi cally safer than when they were first issued are selling from five te twenty points below their original quota tions. Such securities offer unusual oppor tunities for profitable investments. Our Latter E-Dl describes a bend of this kind. GjIIANDITUGOMPANV Frunklin Bank Bldg. Philad-tphla New Yerk New llerrn lloMen H:.4r. 1 !-? . Kg SAiM pr T-SntSf-f d Busi "Vi. 1 Cl m mil i iness I 3 If you were contemplating an expenditure for oil every-duy necesultj. you would consider carefully where the best could be obtained for the money be bo ere liuj leg Be sure that your Investment bonkers hae a grasp upon the husluesa pe'lcles l"h -d th bends veu buy, nnd that their judgment and Integrity Is un questionable BATTLES ' COMPAN KtnhVhrd IHne Inilrprmlrnrr itinre (Kimtl . Ci.saBBEratJOJsrKir.raiw t EMPIRE GAS &" FUEL CO Bend Secured enver b.c i nk ng 'una 57' Noie- iue 12' Orets rrnln etrr 0. 000,000. mlleble eirnlni. ever 10 tlnir Intfrrst fhiirfr. Iniercj Payab.c Monthly ji 'Cm annualy as Dcsred by nvester "Meedy s Ana ysu 'RateiThejeNeiei A" Yield Over 10 Particular en request I f Interesting! nstructive! mk Tliese e-nlng or w!ie contemplate j purclmslnc standard motlen-plc. t ture securities will find of ex- eeeding .ilue t ir new ' tjeuk ' which reMewb the history re- m-irkahle growth .ind potential!- ties of 'his lii(lii"trv j Copy snt en request 1 Fairman & Company ; Drexel Bldg., Phila ltnbllli-d 10O2 Usu'i iiiiiiii"" mi"' 1 1 1 n m i Eait Su Leuis & Suburban Ce. Convertible 7s, 1921 Chattanooga Railway & Light Ce. 1st & Refunding 5. 1950 I1ANKKHH 321 Chestnut St., Philadelphia ilmilitri ,Vnc J erk and rhluUfts Bleck Ezthanei I- ILL Ml'Y AND HELL Grand Rapids & Indiana Rwy. Stock & 2d is, 1936 CHARLES FEARON & CO. 333 rilKHTNl'T 8TBKKT !! ftf gs. Lawrence E. Brown & Ce. CERTIFIED PUBLIC ACCOUNTANTS 1C50 RlCAl, Rst.itb mi"' LV4tn,iM inratlinte and ilJii1Prtnerahli and nrnerallnn areeunla. Alae prepare C, 0. Ill) nrnera rime Tnx Meterne. MARKET SHOWED IRE RESISTANCE Salt 410 ZOO 200 7A 1000 001) ItQi) I'D 140 310 20l)l .1)0 4)0 00 1.110 II I tee 1IW zee 090 JO) 3401 310 330 tee 0)0 tee 2800 t.U 010 DM Oil Further Dividend Reductions Helped te Keep Trading Un settled and Conflicting New Yer't. Dec. 10. Klurtuntlenfi n te,ilay'H stock murkct ncre both lr reiulnr nnd ceiifiiMiitf. The Kfiierul Iinriictcr of tin? onenitletiH nml the nriilnt'tig price mnvcimnt, however, wni wholly In line with t'reccdint, or jtiMt Mitch nn exhibition us fn untidily vltneised ufter n prolenijcil cen II 'iul(l'illri); movement. Cnim tlerlitR nir rounding condition nnd circumstance the mnrket reall riixc u fnlrly Reed icceunt of ltclf. It hnil Hcvcrnl sinlc- ng uprlN nnd nt theie intervals there was every indication of fres lillqultln lillqultln tlen t'ntlcrncntli the iirture, tiewevir. the pcncrnl lint hntl a much xtrenver one, or lit lcunt, greater rc-iiKtftncc wns neeuiitered eji a recessions of n pe'nt ttl ever Seme of the developments nfter the losing yesterday, including the rednc m of the Vanadium Corporation divi end, and reports of nnpe cutting liy lie of the Independent itee com cem niiles did net et well, tl -ercd te tuphadlre the severity of the railjiist tent in nreijrcss In the general business itimtieti and iinturulh iutcusilk'il the .Mourn already prevailing. Till" ne ne eutited for the early selling nnd the. conspicuous wenUncsj of the Indepen dent shares, which were about the most Mi'ncrab e rpettt en the list. Crucible and Vanadium Steel were softer upets hut l.acKuwiiiiiia and Kcpub ic SU'd were n!e subject te considerable pres sure. I", S. Hteel nfter cqual'ing Tues day's low price at "S'S developed fctub bi'rn resistance. In the general list sim ilur re-dstencc developed en n reoea reeea reoea iens of a point and ecr. As a matter "f fact there were defi nite reasons for sinpesln; thet advan tage was belns taken of the weakness of the Independent steels and ether se lected points of nttack te cover short cmtrncts elsewhere. The bear crowd also discovered they were net dislodg ing the same amount of stock as en Monday und Tuesday drives, nnd in consequence there was seen a general shifting of position. There were a few brisk recoveries from the early reces sions, but the market still Bhewcd lltt'e support or buying piwer ether thun thnt emanating from the overextended short interest. The recovery wus namperea bv the announcement of the passing of dividend bj the 1' S. Teed prul-uct-s. This action, however, had been easily foreshadowed bv the recent vio lent slump In securities of Unit com pany. It served, however, te keep the disappointing business situation contin ually in mind nnd gne the reactionary party fresh ammunition te play for lower prices. Before this chilling niece of news came ever the wires 'coders among the oils, stee's and equipments and rnils had raided 1 te 3 points en liberal short covering. In the meantime call money was In light demnnd at 7 per cent, but I exchange was firm, the Londen rate 'mounting, te Uic highest quotation of the week. 1 PRICE MOVEMENT IN LOCALS NARROW Continued Selling Observed te Establish Lesses for Income Tax Statements The continued fairly heavy selling of cvernl of the prominent local shores .suggested further operations for the lurpese of estab'lshlng losses for In come tax statements. It would be dlfli ult otherwise te account for the un usually large transactions of these shares, and which were made with a luctuatien of prices that was tincom tincem tincom lenly narrow for the amount of the tock changing hands. Such oneratjens were particulnrl no ne tieeublu in United (ins Impreeiiietit, Pennsylvania Railroad and Philadelphia Kleetrie. There is ewrj reason for supposing thnt many of the holders of these stocks purehitsed them Ht ma terially higher leeK This applied es pecially te United Gaw Improvement, and it would be altogether natural te make the operation te cut down taxes te meet the actual less facing the inest ineut made. It would he hnrd te describe the uctuul trend nf the market, as the price meement. like Uie bigger market, was both irregular and conflicting As a rule, hnwiver, variations were cenl'uud within small fractional limits. The ex ception te this rule applied mostly te specialties or innctiw- issues, (icucrnl Asphalt was one of the mere prominent, with a decline of nearly " points, which mennt u forfeiture of most of the gain made in esterdaj's upiift in the New Yerk mnrket. j United (Jas ImpreM-ment, following its recent record, estab Ished n new low record at 2"'s Union Traction had an earl jinking spell, cunjing the price down te .!. which was caused by re ports of fentcting the rnntal decision in the hiaher courts. Lack of continuation Martin & Ce. 1411 Walnut St. rhllndrlnhU brought n rail) te 2!M, Philadelphia Itnpld Transit gave ground, receding te 1 1 's Klietrie Storage Hatterv, en light -ales, equuled the recent low price "f 'i The railroads nbeut held their nun Nothing much was done In the ulscel'iiuceuii shares Small transae transae tien were lecerded in a number nf the enginnl underling lines of the Phila delphia Itupid Truusit sstem. FOREIGN EXCHANGE Ne ir!.. Dec 10- At the opening of the foreign exchangt market today quotation entired into new high ground, rateh showing furtlar considerable gains Stirling cables reached 3 )'Jt and demand 3 1 8 -s thn highest r.ius In a numb r of weUs French exchange gained 2 points from yesterday's high llgures te 5 )i for cables and 5 Uls4 for i lucks Lire gained 1! te 3 51 for cabhs and i 50 for cheeks oilier quotations were" Swiss cables. 15 37. checks 15 10; guilder cables Jl J-1G checks 31 1-1, pesetas (.ibles 1J07. checks 13 05, Stockholm cables 1 't 73. checks 19.70, f'hrlHtUnla cables 1185, checks 14 se; 1 Cepenhagtn cables 15 13 checks 15 10, Belgian cables 0 24, checks 6 23 Vi ; I marks were 1 Jl I YKSTKUIJAY'!" KIVAL, QUOTATION.H 1 Hterliwc Kranca I.Ire jullrjer imnmnrt 3 4S r. DO 3 44 SI Of, (,it.ls 3 IS 2 3 HI 31 IB ri'HAVH OPBN'INO QUOTATIONS hturlltis Trunca Lire (JullrlerH Uemsiel 3 4S J lilV, -MK nil.) babies 3 10't 1 02 3 51 31.1s 1 MONEY-LENDING RATES I NEW 1 OKK Meney en call, both 'huiaes of cela'i-rul. opened today at 7 per cent for lmdlng and renejvlng. rilll.ADKI.l'HIA Call 0 per ctnti I time, 6 per cent, commercial paper, thri t- te six months, e per cent. i (Nete These are merely nominal ' tiuotatlens us the legal rulf of Interest In the state of Pennsylvania Is fixed at u per cent. I'lus premiums und commls cemmls commls Hlens, time money for thirty te ninety days Is leaned in 8 te 8 54 ptr'cent while commercial paper from three te tUx months, Is being offered at 8 te 8 M, per cent) ri. iniM'nesH develeimielit commlttee 'of the I'hlludelplilu Stock h'xcliange h.m I prepared und Issued a descrlptlvB clrcu- lar en tlie reniuyy"inu i, EVENING prflttae IfEbeaspgHltiADBLPpiA,, -EHt7&6lA3) ,,t)SCEtBBB jU, 1 . ' iii. , , . i i 'I ,' ii lAtiiil fl I llr NEW YORK STOCK EXCHANGE TRANSACTIONS Dlr. In t lllnh .. Advance Ttumely.... H .. Alaska Geld Mines... t 4 Alax Rubber. . tSH .. Alaska Juneau O M.. I .. Allied Chem A Dye... IT 4 Allli.Cha.lmers 2 a Am Agrlc Chem ' 0 Am Ueet " ,,;ar 4 . Am Can tnft 7 Am Can pr ?5K 12 Am Cnr A Fdy 122 .. Am Cotten Oil "Vi 80 Am Drug Syn Iii .. Am (tide, ft leather.. 7ft 7 Am Illde A Leather pt 1H Am Intermit Cerp ttv 1 Am-I.a France Kng J4 fl Am Locomotive.. .. 'lH 7 Am I-oeeniotlvo pf. . . .161 .. Am nndlater Ce GCH .. Am Safety naxer .. Am Ship & Cem.... AH 4 Am Smelt A ttef 04 7 Am Smelt A nef pf.. K334 0 Am Smelt See A 08 12 Am Snuff ma 5 Am Steel Foundries. 2!4 7 Am Steel Fdys pf... SOW 7 Am Sugnr Ret H7 7 Am Sugar Ref pf....loe te Am Sumntra Teb.... i0 a Am Tel & Tel K 12 Am Tobacco II4M 12 Am Tobacco tl I07J4 6 Am Tobacco pf new . f7H 7 Am Woolen e.tft 7 Am Woolen pf 10H .. Am Writing Paper pf 3 . Am Zinc Lend A Smlt i"A 1 Anaconda Copper . 10H .. Assets Realization... 2'S t Asse Dry Oeixts.... lfV5 a Atch Tep A danta Fe flO'i 3 Atch Tep ASF pf.. 7 7 Atlantic Coast Line. . .. Atlanta )lr A Alanttc 6ft . Atlantic Fruit 8 10 All Qulf A W I S S. M7J 3 Atl CSuir A W I 3 S pf rH 7 Atl Refining 77. pf..lP5 .. Atlas Tack Qerp 17H .. Austin Nicholas. .-... 11 3.30 Raldwln Locomotive.. 57 180 Net Clare. tow I5K I 20J4 lH 29 SIX ilH iVA I5V iek I7V4 7Vi 0W 6H H HI 101 08V4 m 38H "3H C8 OOV4 (0 54 80 H 85 tee toy 7M tMH t'7'i 87W 1H I10V4 3 tM I9V4 79M i4H JOG 3W 105 CleM 1 0Ti 1 -IIK-t 48 I7- H- 3H 121 - 174-t-7Vi J4 41 - .17 Vi- J4 Hi -10. K0H-8H-8J4- 30 H- 3H- 88 -0Vi 29 14 80V4 88J4 Iti) 1V4 H 1 H Vi 54 54 iv H H 54 1 54 54 54 H V4 54 ttlH- 1W 585 1,011 30)1) tee '00 no coue de tee 3010 400 AOU 500 200 2001) t'i 20n tee 270 134 II 3000 10)0 I07H- ay4 7H- H - 94 54 1 V 194 8054 !3 - '-15H- 354 I9V4 79H- 75 s5',i 514 7V4 t06- M54 105 t7H 11 - S5J4- 94 1 2V4 "'4 1 '4 17 H 11 H 32 17 23 18 38 !Vt tlH 3 i H 334 1V4 4H 04 l.t H 53K 08 42 M2V4 40 35 H V tee 5y4 3V4 jiH 0H 7H 17 V4 70H 30 J4 7W 103 24 X tl f0V4 8M IKH 4514 85 20 V 26J, 20 10H 7S 01'4 4W 28 78 20 JJ 18 034 20 10 4H H VA I5!4 35 314 H2W 85 Vi 12 I8H t3'j 48 72 10 ',4 154 e 38 "4 Halt A Ohie S2 12 -17H-23 54f 38 38 H 714 . 2'4 3 . 8154- 4H . 9H t3J4- -3M- 68 4- 63 - 112Vi 40 - 5V4- "6'4- 19254 75 54- 7354- 7 1754- 27 10 - e.M- 103 -24 H 57 - 0054 0 1854- 46 - 85 -20M -10H -80 -20 -10 t- 4 Baltimore A Ohie pf, . Harnett Leather.... 17W 23 y II 38 I IK MV I tee 1 no (in Rnrnsdnln Class A 100 2.30 llarnadale. Gtass B., 200 .. Halepllas Mining 4MI . U'thlchem Meters. 20') S Rethlehflm Steel B 200 .. Beeth Fisheries. 2") .. Hrklyn Rnelit Transit 2)' . . Brklyn R T ctfs or Ib V V4 V-4 T4 '4 V4 Vi 54 2 '4 194 1 94 54 94 54 54 5i 'ji 94 4 1 'H 3 200 . . nruns Term m te Burns Bres 310 ,, Butte Cenner A Zinc 1H 4 3M .. Butte A Superior Cep 00 .. Cadde Central OAR 13 H in .. Cal'fernla Petroleum 7 600 7 California Petrel pf. 2'i) California Puckln. 10 '0 te Canadian Pacific .. 100 .. Canada A Southern. 24 ., Central Leather .. 1W 1 Centril leather pf.. 40.) 8 Centrnl of N J 12 li) 4 Cerre de Pasco Cep. 8)i) te Chandler Meters . . IHO 4 Chesapeake A Ohie.. 100 .. Chicago A Alten. .. 100 .. Chicago A Ot West. M f3 .1I2K . 40 . son 102 'J . 2H . 13K . 5T4 . H 'ii 3)1 .. ChlciKe A at West pf 17V4 22)0 .. Chicago MU A St P.. 27K 30i) .. Chicago Mil A St P pf '1U 3410 s Chicago Nerthwestern 08)4 100 7 Chi A Northwestern pflOS 421) ..Chi R I A Pac 25V 410 a Chi R I A Pac 6 pt J7H 310 7 Chi R I A Pac 7 "I pf GUIS 8400 ., Chile Copper OH 10 'I 2.30 Chfyi Copper isy2 200 3 Clu tt Peabody 40 lit 1200 1100 200 25)0 1300 210 3510 5300 10400 10)0 33)0 10 0 500 1)0 7 Cluett Peabody pf . . . . 85 . . Coca-Cela 21 H 3 Colerado Fuel A Iren 20J4 .. Cel A Southern 20 1 Cel Graphopheno. . . . 11 7 Consolidated Gas .... HV4 7 Continental Can H'4 4 Cern Products nef. . 5 !.30 Cosden A Ce 29 14 8 Crucible Steel 81 7 Cuban Amer Sugar... 20J4 .. Cuban Cane Sugar... 20 7 Cuban Cnne Sugar pf 444 1 Da!son Chemical Cj. 27 2.30 Debeers Ce 18 0 Delaware A Hudsen t&H . . Denver A Rie Grnndc Ji .. Dener A Rie G pf... 1J .. i:ik Hern Ceal 15 Ji 8 Klk Hern Ceal pf.... 35 .. Kmersen-Brantlng ... 554 0 Endlcott-Jehnson .... S2ii 1 Kndlcott-Jehnson pf.. 85Ji .. i:rle 13 .. Krle 1st pf 1 . Krle 2d pf 13!4 8 Famous Players L . . 49H 8 Famous Plaers pf . . . 72JJ . Flsk Rubber 10 . . Frecpert Texas .... 15 .. Gasten Wins Wig.. 2' . General Asphalt .. . 41l fl General Cigar 54 H 7 General cigar def pf 82 8 General Hlectrlc . ...lZ0t'4 .. Gmer.il Klectrlc rts . 3J4 1 General Meters 1334 B Gen Meters deb 6 T, . C0J( 7 Gen Meters deb 7.. 71 0 Goedrich II F 34 U 7 Goedrich B F pf . . . . 75 .. Grunby Consel M & M IB'n 4 Great North Ore elf J 26 1 Grat Northern pf . 73?f 2 Green Cananea Cep. . 18 .. Gulf Mobile A Ner 9U .. Gulf Mobile A Ner pf 21 J .. Gulf State Steel 3.1 4 Haskell A Barker Car 54 Vi .. Hendee ctfs 1 Ii .. HemcBtnke Mining ... SO .. Housten Oil Ce lV2 1 Hupp Moter Cnr H 7 Illinois Central 84V4 80 Indlahema Ref G',4 3)0 310 500 210 100 200 610 300 17'0 1300 100 1110 100 1700 300 1310 10910 201 101 2010 5100 mm 1510 1310 1030 000 100 010 2N11 200 100 100 100 200 330 100 100 900 1000 200 310 41 J 400 300 200 210 100 PS0 1500 30 0 710 2t30 tee 41UO 200 100 10.) 300 3D0 4 mm 10U2 1)5 M-t- H 154- 1554- 3? I 594 1- 53 54 8354 13 18)4- I3V4- 4.SV5- 72J4 10 V -UJ4- 2'4 3914 51 5i 82 110Ji 3J4 tn- 60 -71 34 -74 - 18V4 . 20 -7214- 1894 . 05i 2154- 33 f 54 14- 14 Ji 50 7854- 3 . 394- 654- 30J4 , 4 10V4 h , 95J4 tOOVi- t2'4 48Vi 12?, 18J4 20 J4 30 54- 494- 3'4- 8V2 1054 1NJ4 r 35M- IUJ4- 7V5 51 S4 82 110 it 3X 13'4 00 70 '4 33 H 74 IK'i 28 7214 184 9 2Ui 33 51 "4 14 Ji 50 78 H MIJi 014 3014 3 74 10 ',4 ion 4rVi 05 J4 100 u 12 Vi 4 8V I2'l 4h'4 20 i 30 V5 X 314 8Vi 14 tH 35 lH 714 1 Inspiration Cen Cep.. 30 H . . Inter!) Cen Cerp ... 4 . . Interb Cen Cerp pf . . . 1054 . Intirnat Agrlcul .. . 10Vi Int Agrlcul Cern !f.. 4J 7 lntl Harvester new .. 00' Intcrnat Har new pf IOOV4 . Int Mir Marine 12 Vi 6 Int Mer Marine pf . . . 49 . Int, matlenal Nickel.. 12H .. International Paptr . 48t .. Imlnclbln Oil Cerp.. 21V4 . Iren I'reducU) . . . 30J4 .. Island Oil 3 . . Jewel Tea 3Vi . Jewel Tea nf 8V4 2 Jenes HreH Tea leli .. Kan City Southern . 1HJ8 4 Kelly-Sprlngtleld Tire 36H 2 Kennecett Copper .... 10J4 Keystone TAR 7'2 te -ITJc nnd reccdid te jesterdnj's 'nst priie of 47c. .'uly started nt -17c te 47c, uguinst 47vs' nt tlic close yes-terduy. Commodity Markets GRAIN MARKET Chicago, Dec. 10. Scattered buing of' coinmlr.iien lieijhcs ut the outset cuu ed n tinner undertone in wheat futures On the upturn, the market rnn Inte renting orders te bell, and there were receS'deiiH. Itenrish news Included reports from Waehlnglnu thut the proposal te declere un embargo en InipurWtiens of feedstuffs had been pigeon-holed, closing of flour mills In the Southwest, further Industriul cur tailment and un opinion from a Liver pool authority thet the world's wheat surplus would be ample for all re quirements December opened 'jc higher at $1.00 March started at ?l..r!l te .$1..W, and later sold at a net less of '4e. nt SI ns't. May opened at $1.51 te $l.f5 against $1 f)2-Vi ut the end esterday, und reced d te $1 .13. Cern wus easier under selling by r.rnmiiinnt commission houses. COTTON MARKET New Yerlt, Dec. 10. Considering Liverpool's strength this mnrnlug, the lecul cotton mnrket rnude a jioer show ing early lis tirst prices were only 5 te 13 points higher, except December, which, because of the issuance of two notices, wns 3 points lower. Weakness In the stock market at the start, together with Liverpool and Wall street selling and centluued unsatis factory oufslde conditions, all contrib uted te the easier feeling which devel oped after the Htart, when prices dropped off te Inst night's levels nn the late months. Wire und commission houses were the best early buyers. Dcmber Janjury March ,, May July . ... October . . December opened unchanged nt 08c and sagged te OSVfcc. May started at GOVic te Ollc, against 00c at the clese yesterday JUiy openee ui iu7: i" i"c-, rr mpared with 70c at the clew; yestcr- A ii v BANK llnnk cleurlnaa niMindlns day In nt Oats foMewed corn und were a shnde nu'i.r -IrUIll' WUS S11UI1 1 December opened c lower at -WA-c phlla sxd rallied JeC. May started ut 47c u0-.en 1 .80 Lait 054 Dlv. Sales la I Hlsh 2200 a Lackawanna Steel ... SOJi 500 .. Laclede Gas of St L, . 41 34 200 t Lee Rubber Tire 17 Vi 1000 8.50 LcTiIgh Valley V4 500 11 Liggett A Myer 130 608 2 Leewe Ce . ... Is 54 140) .. Left Cerp 1054 Lew 4054 41 1754 63J4 130 l 10 137 99 P54 13 47 V4 17 1354 2 4J4 3 1 10254 1554 HI4 3054 11 55 3 4y4 1634 37 Vi 40 Vi 03 Vi 454 20V4 28 48Vi 100 108J4 41 17V4-f354-130 -10 10 - 14 - 80 - 99J4 63 300 100 100 190 801 100 200 600 12 Lerlltard Teb 127 7 Lerlllard Teb pf 0 7 Louisville A Nashville 154 7 Mnlllnsen A Ce pt... 3 7 Manhattan Kiev guar 4nVi 1.75 Manhattan Shirt .... 17 2 Mariin-Parry 1394 .. Maxwell Moter 394 .. Maxwell Moter 1st pf 4J4 . . Maxwell Moter 2d pf 3 . . Max Met 2d pf ctfs. . 1 12 Mexican Petroleum ..10& 2 Miami Copper 13J4 1.60 Middle States Cern... 12 'A 4 Mldvale Steel A Ord. 30 Ji .. Minn A St Leuis tl 2 M St P A S St M L L 35 . . Me Kansas A Texas. . 3 .. Me Kansas A Tex pt 44 .. Missouri Paelfla 1754 .. Missouri Pacific pf... 37J4 8 Mentana Power 49y4 48V4f 17 12 2 -1 165 1654 UH- 30J4 11 - 15 -3 4H 100 100 100 1400J 3ne 13' 0 47UU 500 100 UO 109 371)0 200 100 100 1300 100 200 200 200 110 100 600 200 tee 1600 2000 300 404- 93V, I4V4 7 Mentana Power pf . . . 93Vi .. Montgomery Ward... 14 4 Mulling Bedy 20J4 se National Acme 28 .. Nat An A Ch pf ctfs 49Vi 7 National Biscuit 100 7 National Biscuit pf...M .. Nat Cleak A Suit.... 29 .. National Cen A Cable 354 6 Nntlennl Lead . . Nat R R of Mex 2d pf S 1 Nevada Cen Copper. . 94 8 New Yerk Central.... 0BJ4 2054 38 48Vi- 100 - 107 - 29 - tJ4- 69 5 K 08J4 3 -20 16- 54 29 2J4 69 5 H 8Vi 53 20 10 ' 6V4 31 154 3254 314 4 2134 1454 14 48 3734 38 76'4 70V, 13 39 Ji 7 38 1054 34 3854 19 73 1054 80 'A 54 67 30 13 81 101 8V4 31 Ji 2154 11 sl54 054 0854 59 v. 88 1854 C5 64 12 1934 :354 35 Vi 54 13', 354 254 10054 1754 5 T8J4 '354 1034 '2 20 , aji (03 K354 79 264 2754 334 0 1354 2054 754 42', 17 34 Ji 13 854 New Yerk C A St L.. t3y. 200 Z.60 New Yerk Deck. ... 20 7000 600 .. New Yerk N H A it.. 1754 7 Norfolk A Western... MVi 5 North American ..... 81 7 Northern Pacific 77 8 Neva Scotia SAC... 3294 40 Okla Pred A Ref 3Ji k7Vi 100 51 77 3254 3V4 4 35 -1154 I4 48 -r 38 38 78 -70 Ji 13 -39 Ji 7 38 - 0500 100 300 100 1400 .190 100 200 310 100 7000 1000 1200 4000 100 20 0 590 800 34CO (00 100 tee 230 300 201) 1300 100 600 10)0 1000 3200 400 1230 8000 100 1200 11600 800 200 200 7600 I 100 1400 200 200 300 300 300 2100 100 200 500 700 12700 1OS00 7000 coon 300 40 800 100 200 200 11300 1200 100 100 300 10200 1400 4800 200 Ontario Sliver Mining 2 Orpheum Circuit ... 3JVi .. Otis Steel 1454 .. Paclfle Devel Cerp... 14 5 Pucine Gas A Elee. .. 48 .. Pacific Oil Ce w I ... 38 .. Pnc Tel A Tel 38 6 Pan-Amer Petrel .... 77 J a Pan-Amer B 71)4 4 Parish A Bingham... 13 5 Pennsylvania lilt,,., 40 .. Penh Senbeard Steel. 7 .. Peeples Gas Chicago,. 38 .. Pere Marquette 10 3 Philadelphia Ce 34 .. Phillips Pet 20J4 .. Plerce-Arrew Moter . 154 8 Plerce-Arrew pf . . . . 7J .. Pierce Oil 1094 8 Pierce Oil pf 80't 4 Pub Srv Cerp of N J 55 3 Pitts Ceal 67 . Pittsburgh A W Va . SOVi 1 Pend Creek Ceal .... 13 B Pressed Steel Car.... 8154 8 Pullman 10154 8 Funta Alegre Sugar.. 40 4 Pure Oil Ce 3354 .33 Rand Mln Am Shares. 2154 1 Ray Cen Copper 1J4 4 Reading '234 2 Reading 2d pf 56 .. Reple Steel 70 fl Republle Iren A Steel flVi 7 Republle Iren A Stl pf 88Vi .. Republic Motertruck . 18J4 7 R Rels A Ce 1st pf... 15 .20 Royal Dutch N Y.... 5654 1 St Jeseph Lead 12 .. St Leuis San Franc. 205-4 ..St Leuis Southwest.. 24 .. St Leuis Southwest pf 36 1 Santa Cecelia Sugar.. .154 . Savage Arms 1354 .. Saxen Moter 3Vi 8 Sears-Rechuck f354 7 Sears-Roebuck pf ...10054 .. Seneca Coe Cerp.. .. 17', . . Shattuck-Arlzena Cep 5J4 74 Shell Transport .... 3054 .. Sinclair Oil 24 Vi 0 Southern Pnclfte 0794 .. Southern Paclfle rts.. 22 .. Southern Rail 20 Ji 8 Southern Rail pf 87 20 Standard Oil of N J.. COS 7 Stand Oil of N J pf..l0394 7 Steel Tube Ce pf 79 4 Stewart-Warner Speed 2694 4 Stromberg Carb .... 28 7 Studebaker 4054 .. Submarine Beat Cerp 0 2 Superior Oil Cerp 1354 4 Tcmter Cern A F "A" 20 .. Tenn Cep A Chem.... 7Vi 8 Texas Ce 43 .. Texas A Pacific 17 1 Texas A Pae C A O. 3654 V 1054 34 -2834-19-75 te 80Vi 55 -87 30 13 - 101 4854-325i-2154 HJi 82 (! 60 Vi-5954- 88 - 1854 s - 5654 12 20V4 :a5i 30 ' 3V, . 1354 3V4 '3 - 10054-17Vi- 5 . 754 2 -K354 70 - 2054 78 1 54 X4 2 54 94 1 14 94 54 154 'a '4 54 294 5i 1 40V4 . 0 - 1354 20 754- 12'4-17-?5 1354 . 854-49J4-80Vi- 754- 3754- 20- 116 - e54- 30 04 lOSVi- OVi- 20 - 5I- 42 18--03 381(1 0254- 100 H 32 Ji 40 - l 54 54 1 54 5i Vi A 54 '54 54 V 1 1 Tidewater Oil rts 1354 100 s.60 Times Square Supply. 854 1109 n Tobacco Products ... OJi 7 Tobacco Products pf. 80Vi .. Transcontinental Oil . 7 5i B Transue A Wms Steel. 3754 4954 80' 754 3754 20 54 115 0454 30Vi 04 10054 Ovi 10V4 5154 42 18 04 03 3SV4 154 100 Vi 2Ji 40 78 10654 5054 04 36 Vi 3054 06 100 1500 100 20 00 2000 500 500 100 400 200 000 6000 200 1300 2100 100 200 3800 100 100 Union Oil 20 J4 4 Union Paclfle 115J4 4 Union Paclfle of 65 4 United Alley Steel 3054 8 United Drug n4 12 United Fruit 198 united nwy Incst... 10 United Rwy InveBt nf 2054 1 1 ''4 Vi ''4 '4 54 54 '54 'J4 '54 54 94 3 United Retail Stores . 52Ji IUSCIPS Fdy pf. 42 0 U S Feed Prodects.. 10Vi 8 U s Ind Alcohol 5 7 V H Ind Alcohol pf. . 93 ..US Renlty A Imp... 30 8 U S Rubber 8.1 8 U S Rubber 1st pf...,100vi 6 U S Smelt A Ref.'.... ?2 200 3.8O U S Smelt A Ref pf.. 40 Ji 15830 u u 3 eiuei vy, 7 U S Steel pf 186 54 line 3100 300 3200 500 200 1680 14110 1700 100 200 OHO 100 900 300 100 tee 300 2200 700 5200 600 K00 100 100 6 Utah Copper 50 54 . Utah her (, 4 Vanadium 87 54 4 V-Carolina Chem ..3154 3 Va-Carellna Chem pf. 00 1 Vlvaudeu Inc 8 . Wabash 8 . Wabash pf A 20 . Weber A Hellbrener. 8 . Wells Farge Kxpresn. 55 . Western Maryland .. 10 Western Paclfle , . . . 27 7 Westlngheuse A Brake 91', 714 7V4 10 8 55 1054 27 80 Vi 41 0',i Ji 34 54 10 37V4 3 .11 30 75 68 14 94 "54 54 154 1 Vi X V2 "j-4 114 54 4 westlnglieuse U A M 4154 Wheeling A L K 014 Wheeling ALL' pf. White Moter Whlte Oil Cerp Wilsen A Ce Willys-Overland .... Willys-Overland pf . . Worthlngten Pump . 3154 10 38 0J4 81 4054 78 56 Werth Pump pf A.. 0 Werth Pump pf B. .. En-dividend. DIVIDENDS DECLARED Vanadium Corporation of America, auar- terly II payable January is te record December 31. Empire Hteel and Iren Ce , per cent en preferred, Masner Car Corporation, quarterly ft and extra 12 or common, alae quarterly Hi per cant en preferred, all payable December 31 te stock of record December 24. Duqueene Until Ce., quarterly cent en preferred, pasable KVbruary 1 tn stock of record January 1. Creamery I'ackase Ce . quarterly 2 per cent nn common und quarterly IV4 percent en preferred, leth payabU Janary 10 ie lock of record January 1. Detroit Edllen Ce.. auartarlv ' n Mni payable January 15 te stock of record De De cember 81 renn central usnt anil Power Ce . quar terly K0 centa en preferenie. payabW Jair- uury i iu nn;n u irtwru uereinoer ivniinKiun iru.i in. i rcr.t and extra 1 per cent payable tmr :il. Itlde Avenue Pasiencer Hallway Ce , quarterly 18. payable January I te itnck of record December IB LIVESTOCK QUOTATIONS Teat, cleus .... 1R.3.1 .... Ki.ST .... 1.117 .... ln.M .... ln.tlB .... 1S.87 Onen 18.80 15,43 IB UI ,6.68 12 m. rhlcoce. Dec. HI HOU8 Ketlmated re ceipts, 44,000 head: left ever 11843 head. Very llt'le delne blddlnr lower, f,-w lalea ubuut tike yraterday'a close; in paid, CATTI.K Ks'.lmated receipt!, 10 noe head HHBBI1 Eitlmated recelpta, 28.000 head I'ltteberah. Pa.. .Dec 10 11008 He celpti. 3500 head I-ewer. Heaves. 10 W 0.2M heavy and licht yerkera And plxe, Ilnjy 'sHKF.P AND I.AMMS-Hrre.t 700 hend. UtiHdy Tep aheii 10 ( hiniln, f 12 73. 18.41 45 18 48 le.ni IB. I i.aa CLEARINGS today compared vklth cerre two yearsi iii.u luiu hub 1114.1111,403 J0S.tiOl.12O f70.218.00; UAL.vr29 jieoeip-.a. ,ve neau. 82,410,176 78,082,171 d0.PT8.V41 Tep. 113. Net Cnt. - 1 V4 Vi w 0 54 254 1 fi Market Reflects Conditions Prevalent en the Stock Exchange V4 lY New Yrk, Dec. 10. The market; en the Uread Street Curb today reflected Uip necessities of sellers and wns a be lated reflection of the liquidating con cen con dltlens that have prevailed for a long time en Uie stock exchange. Several Issues that have been cerflcd In accounts that required banking pro pre pro tcctlen were unsettled by liquidation of these accounts, most of these being For Fer rell Ceal, which was held by the sume interests thnt were concerned In In vincible Oil, end ether Issues, and that stock, en large offering, declined 2 points te 12. - t - 14 me Standard Oil financing, which wus brought Inte Increased attention by the placing of Standard Oil of Cal ifornia notes yesterday, tiniettled the 34 Vi Vi 1 Vi 54 54 V4 "vi 1V4 eiis generally, HttndarU Oil Issues be lug often d at concessions of 5 te 10 points. Standard Oil of Indiana, new, which opened at 71, w In supply en n large aeele nnd dropped te OS. International Petroleum continued under pressure from Canadian sources naturally Influenced by the unnetUed po sition of Canadian exchange, which Is new at a new low record. Carlb Syn dicate fell te a new low of 7. Candy stocks were also heavy. The list generally geld at losses from yes terday's finals. 54 IV 34 INDCKTRIALS Acme cei i Ae!rf Ext)leles 0V1 nrlilsh Amer Teb re....! i" Ilrlt Amr Tebta ceud.... 12 Tebta coup.. Kmplre Tube imrrnn jeM Indian Packing ficrrer .-ucuern V V4 5i "V4 1 54 1 154 iiurin North Amir Paper l'rflln Titrr PerfeeUen Tire naqie .J Cnm Radie Cem prf Standard Qt A'KUc'tiie..' iiey ae France ii.irn iia R Htnnm . United Prelt Sharing Pnlted nt Candy Wayne Ceal , . ... llee Moter Truck INDEPENDENT OILS Vi 54 54 Allierl Oil 17 'I "WHO VII ....... Dngten U'Vnmlnr Cities Service "U" ctfs .. 31M Cushlng ret .....:. 3, Denny Oil U Dominion Oil 78 Kik na.it ph ::. k KnKlneers Petrel m Keierai en .....;::;": 28 Ollllland Oil ..I;. l5H fllenreek Oil ..,! "ti 81 'A 8154 1W J4 A 'V4 ' y nuamn en u Int Petrel ' i3 Int Petrel 18U Maracalbe Oil 5b2 Merrltt Oil .......:".... i Mexico Oil ll V.,.1. l'4 l'4 2 1W 151 Vi "'A 154 Vi ''4 V4 1V4 1 V4 "ji emar Oil Producer A Iteflners lied Ileck Oil , 8alt Crwik new ... S'mma Pet Hkelly Oil Un Teas Oil Victeria OH rn.iv . Woodburn Hi MINIMI Alaka Ilr Columbia 2 Atlanta 1 lllg Ledie J uoeth ;;;. a lloiten 4c Mentana 40 Caledonia Mlnlnc IT Candelarla Mining- 12 Cnns Vlriflnla a'i Ce-tet Hllver 04 Crenson rteld Ui I'ureka Croesus ..1 43 Kureka Helly 14 Oeld Cens n 154 y "v, 54 154 iV4 Vi 1 "'4 54 ueia ieei 1 (Jeldfleld Klerence H Geld Knwanas 2 Oeld Hller Pick 5 unin none 22 (treat Ilend 1 i-.mma Miner 4 Herla Mining 4H Iren Jllnnaem Jumbo Kxlcmlen n Knox Divide 8 ia iieae .Mining .... MacNamara MacNamara Crnacant Marih Minim: 7 Metlier Ixide Ophlr Silver Prlnre Cen , Itay Vcrde , Rex Cens , Ilechffttpr Mines Hepe, Greup Han Tey He Am P 4 O Htand Silver I-J ... Success Mining Tnnepah llelmnnt .... Tonenah Caih Hey .. Tnnepah Divide . . . Tnnepah Kxtemlen . . Vi J4 114 1 Vi Termpah-JIm Duller . . Tonopah Midway .. . Tnnepah Mltpnh Tonopah Mentana . . .. 54 54 54 54 V 34 54 V4 J4 ' Ji V4 V4 254 Vi 1 54 Vi Vi Vi 254 54 3 ronepan iieicuf j-.uia U 8 Cent United Kastern Victory West Knd Cem 1 Wllbert 2 Yuken Geld 1M BONDS Allied Packers f,e S3 Amer T 0a. 1022 04 Amer Tel On. 1024 . ... 01i Anaconda 7a. 1020 00 Armour 7s iui Deth Steel 7a, 1035 04H Cem (las Ss OOVi Cfin Textile 7a 04 Denmark Su 07S Helm Ce 7a 04 Inter II T In 07 Nw Haven 4s OHVi Nnrway Hs U0, reabeitrd lis 44 BearaOteehuclt 7s, 1021 . 01 Seam-Roebuck 7a. 1022.. U4 Hlnclalr 7Hs RH'4 Snlvay 811 0IIV4 standard Oil 80 Cal 7a wt.ine'J Swift It U'-'H Rwedlih 6s 78 Swl SV4a 70Vi Va.Car Chem 7V4a 08 Wemern Klec 7s 07H IV, 1H 7954 10654- 50 0H 37 - 30 54- 06 8 754 20 8 85 -10 27 -90J4 41 - 0Vi- 17Ji 34J4 16 38 534- 31 - 39 75 -66 - Philadelphia Stocks 1:15 Net Hlah Lew p m, chjre, lOAmStrs.. 47 47 47 . . 122 Am Cits.. 20 20 20 .. 10 Am Ilw pref ... IS IS IR .. 104tAnaennda 37 30V4 Mtyt i 22 Am Pipe. 4 4 4 147 Eire Ster. 04 0.1 03 1 HfitL'rle .... 12 12 12.. 200 Oen Asph 41 0.1 1 Ce N A 'M TiOO Kev Tel. 7 '4 37.1 Lekc Sup 8 102 Leh Nev. 71 87 Ieh Vnll MV. lOtMln'l Cep 15M, 23.1tMldviile. 30 1807 I'a U K.. 40 Vi 00 l'a Salt.. 00 2.1 I'hliu Ce. 34 B de cum pf 80 12R5 Phila Klec 21 Oi 11 de pref. 27 Vi 225 Phila UT 14 V, stock of semiannual 3 30 PhilnTrnc f2 02 7 2d A: ;4,i.i77 77 177 . 20 13th & iritli....lfi7yj 1R7V4 1R7V4. 183 l'n Trac. 204 20 20!K- 1701 V O I... 27 27 27. of Hi pr Vh 301'nl Ces N J....KI0 100 100 .. WOtUS Steel 7!) 78 78 77 W Jer&H 30 30 30 1 tNet rhnnR-n made by comparison ulth Kiat tale en Nw Yerk 8t .ck Uichanse, . Sulci In WINDS 1 1 .1 N.I BY LIQUIDATION 1:30 Lew p. m. 6U 9U 12 12 12 12 1 tt: IS ft 4 h a 3S 34 lev? iev my; 22U 22H 22V; 154 l't IS i vi m iu h 17H 1754 17 BTANDAIID OILS 0he Oil 2(15 28B 28j enilannual 5 per tioev llluli Lew p. til clllfe Decern. 12 11W Hell Tel 7h 102 lOlT, 101-74 21 Cltv-lB 1010 8S'j te SS(... 15 1-n Ulilleml 2d 4ViB... 85.40 S5.3--! 8,1.40 .00 17 3d 1'4h... 87.00 87.88 S7.K8 . 10 22 17-204th4V4n WM0 8."j.78 85.78. . m vic , iyjs, uri.ioin.eooi.no .20 8 IUiIIii Klee 1st Hs.... SO 70T4 70Tt K 30 HearK b 4S 704 70 70 )? 3 United Hwy invest Tin, m m oe , BAR SILVER llur Kllver wan Vd lower In Londen n ixwer. iteduy at 411,0. 5 - X , V 1r i , B What 2 Pacific Coast Banks Say of Credit Insurance Insurance Twe well-known Pacific'Ceast Banks, have written the American Credit-Indemnity Ce. One says: "Wc have a number of clients using your service at our suggestion in connection with lines of credit advanced them." And the ether bank writcs "Net infrequently in fixing lines of credit for wholesalers and manufacturers, wchavc suggested the advisability of using your credit insurance." Bankers in every part of the country are endorsing precautions that prevent, else pay, bad debt losses beyond the normal, which the American's "Unlimited-Interim-Payment" Policy does. Manufacturers and wholesalers, write or phone for particulars. PajnunU'ie Policy beldtrs abtut $10,00000.00 AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E.M. TREAT, president ISSUES STANDARO UNLIMITED POUCIBS W. J. Merphy, Manager F. J. McFadden, General Agent Mutual Life of New Yerk Bldg. Philadelphia, Pa. New Issue United States Treasury Certificates of Indebtedness Dated Dec. 15, 1920 S's due June 15, 1921 6's due December 15, 1921 Denominations, $500, $1000 Subscriptions Received at Par and Interest Subject te Allotment Frank ist Ce. 15th. St Wew Market Capital, $1,000,000.00 tlmfitr ii TnlrfltaSfci BROOKE, STOKES & CO. 140 Seuth Fifteenth Street Philadelphia, Pa. 734 Fiftwnth Street N. W. Washlnjften Dealer In conservative, nen-spettdative Bend, giving the highest return compatible with unquestioned salety. tlfc t JL3HaaN mil ha. T'T filter 1 ARGENTINA In 1918 the total experts from the United States fm Argentina amounted te $103,670,000. In the same year our imports from Argentina amounted te $159,371,000. ALL AMERICA CABLES Affords a direct and reliable means of cable communica tion te exporters and im sorters JOHN L. MERRILL, Pres Tn (nj.nr. rnn 1(1 direct and accurate handling of ueur cables te Arnintinti and nil ether l eimi II ti of Se ii I ft ventral ana America, mark "Vlll Ml Affftrn I it m pTTERNATIONAL M AaMA-WAA M. MMjy V- REGULAR SAILINGS W PHILADELPHIA te RIVER PLATE PORTS H. H. (lulmbu Dee. SO PHILADELPHIA te RIO JANEIRO & SANTOS H. S. (lulmha Dee. SO nrfrtrrratar PHILADELPHIA te FRENCH ATLANTIC PORTS H. H. Cttuper , lire. Ill H, K, Nedmae lxe. ri. r. ihv or KMrimry LAFAYETlE 11LUG., PHlLAUELl'HIA l.eniburd 303S Main 3115 110 IlKOAnWAY WKUSTKU IILDO. NKW itlllK UIHTUVND 3383 J, M. HAII.Ktl General Meters Bend ateck. ter our epeclat letter en '20 Pnyment Plan" Scott & Stump Investment Securities Stock Eschange Bulldlnf PIULADKMMIIA, PA, Trlf;iUuuc elRO Itnr. siet 40 Hiilmnre I'lnee New Yerk e- . II - Aim S 11 fM Phi!.52ndtMarfcl3U Surplui, $700,000.00 102 St- Paul Street Baltimore . .Jan, 0 IIAKHISON WSO tHICAOO C. M. I-ATTON Sailer & Stevenson SI) AND rnKTNUT HT8. nnwnc Tax Free, Yielding; 4'j te 8?' Hecker & Ce. Bankers nnd Brokers Membera of l'lillartVlpliln an Kf" "' N. K. COIt. STII m trilKSTNPT 6T u .Ai-V ,t,(tth, .L .. ..a'jAMi!- te!!jH m. firtiS-1ni Mie',
Significant historical Pennsylvania newspapers