kdi'..i nzz&fihMasi rp r W EVfcNIN(4 PUBLIC , LEDER-PSCiLADELPHIA, SATURDAY PECJEJMBER 18, 1320 -' ; i y ', 'it .1 li f j r 'i i M i 'i nik. SPECALTES Week's Liquidating Movement Carried Average Level of Ac tive Issues to Low Level RENFWFn PffSaiRF ijork stock exchange transactions imiRRTRAnFR.STHRN! "i, Nmr Yorh, Per. IS Further weak spots vrr nnom-crnl In thr brief iilon of today' rlnslnp stock mnrket While there win no wi i'if ,it,f."n Inp dcTeloimients overnight or anv fur ther nlve'p I'h'iiue in the Kmrral xit ttntlnn. the piriilatlv ilinrei were ub jeeted to renewed preiiire Immedln'elr following the dull ononlnc. Sprolnltlo amonc th fond nre ivri 'inione the first to cTtend their recent severe loe. with pronounced uciknr-ii In exern' of the supar hnre. Other vulnerable spotn, however. ere found In Mexlcnn Petro leum. Pullmnii. VntiAiliiim Steel. Amer ican Tobacco nnd others. Headlne msi the softer npot of the rnit. nlthnuish name of the lower-priced rails notnbly 8t. l'nul. were nKo found "eiiHltlve to Kelllnc o"''ire T'-c n',iM-. tnnvm"' was confined, as n matter of fact, to mints rather than iproadinj tlir-men tin- 1:111 eral list, n'thoueh the entire market wan Inclined to droop. Piillnp-u devel oped on the declines, which Influenced fiome coverlnc of short. hritislne IrreK illnr recoveries In the lnt half hour. Numerous freh element of a dis turbing character cropped out durlnctHe week's operation to add to the mental confusion of AVall street anil lt fol lowinf. Cnnlde-Ini; the prolonced ell Inc movement in the seeurit market, the recurrent tlood or liquidation which swept stock of all description to the lowest p-lce of the tear, and in numerous Instance to the lowest In Severn' years, was naturallv difficult of explanation. Ttirnlnc of course, to the situation of business, bringing re duction of output, cuts of mp1 and the elimination of quite .1 number of dividends with substantial reduction In others, there would seem to be plenty of rensonab'e argument for the fur ther depreciation in eeuritv value. According , however, to the nnnal and habits of Wall street. thee un pleasant rewlation just now emuing to surface were supposedly largely dis counted by the year's uninterrupted de clining movement. Partly that I true. but there liave been deielopment in connection with the transitory period of business readjustment thnt could not have been pnsihl foreseen. In other words, as in a dungerou case of ill ness, unforeseen complications have t tip, which undoubtedly upset some of the most carefully laid plan. One of these was the disclosure of the embarrassment of both individuals and 'corporation to meet the har tax pay ments last Wednesdaj This embar rassment in turn wn not so much be cause of the unsettled business condi tions, but entirely, it would be no ex aggeration to say. the outcome of an unexpected evil which ha created little short of chaos in the business world. It Is only one little word, but it ha knocked to smithereens the morality of the business world, because it has de Telopcd into little short of an epidemic. It i unprincipled, wholesale cancella tions. Almost every iudutr has felt It effects and it ha been openly re flected in the disquieting dividend change and the dumping overboard, by the wholesale, of securities of nil de scriptions. While the events of the week natu rally were highly disappointing, it wa not without a favorable side. A con tinuous marking down of market value is at no time a pleasant spectacle. Any one making a careful nnnlxsis of the week's happenings could readily dis . cover matters might have been much ' worse. That the tremendous financial operation of the week were completed with scarcely a ripple in the mone market is convincing proof of the in hercnt soundness of the hnnncinl situation. Then the picture of gloom which ha 1 been painted 1110,1 be overdrawn, as too Domic chauges always are lit the Wall . street fatalists. There m,i be further Weak spot to be weeded out. There may be further unpleasant developments concerning the business situation There I may be further shocks coni erning divl- I dentis which only a short time ago seem table and permanent. There may be ' further trjing daj. too, in the mar- ' ket, hut unless the whole machinery' of the market i out of kelter, the time 1 would seem to he near at hand when Wall street will be as conspicuously in- I different to adverse deve'opiiietit us it ! now- prone to make mountain, out of molehills. I LOCAL MARKET SOFT iy SPOTS Cleaning Out of Stock Spocu-1 lativc Accounts Scorns to I Have Hern Thorough Ri'tP'nl soft s,ot wore Mii'uvered it ' the local market which not ouh hail n depressing effect but likewise influenced a further shading "f price l'riifid Hin llmnrovement .mil KVetnc SfnrftL-e lliit- tery were tie more ii'mernblc The first named i.nder heavj si-Hiii;; pressure fell to the low murk of t! c mociucm at ITT'i. On 11 muc 1 spin1!"- volume of trading llc trie tornge Ilnttery drop ped back 'J point to '.' ' 'TrndiiiL' in the cin.ru1 !lt vs ifry Iltrrow . nnd 'lie marki ' for the inric lve issues was imnii fu'i'i'l to In rert hln. Thw wn iliu-tnited in the point Recline in Yo'k lirui prefi-rre, tn!?' (Vinsolnlated Tii'tmn of N.-i Jersej bntb issiies ri. tiiuug off on vr snetu su'e- JEiiilnil"lpliin Itapnl Trntiit on moil- Tnrre-selling lieMH t 1 I 1,. I'l.lliiiei- phin 1'lectri" issues 'i..i their own, while I.ehlgh Vlle .IiipIhI to sls 1 There were few den- puicnts of n purely lex-til origin to exert un pti-inu "ftiV)""0"' '' ,n "'' u "' " "P''rnti"n IiitW' lin ii' shares Sentiment M well as(i trend of prices, wa- gourned l event and e'ements cuniin'Mii: witn the Kenrc situation. In a iomt of t j -j . ff'tfri" we, k s turnovt r of 1 ransai inn, 'IIIOUT I'te lurgcsi en -1, u 1 in Indirei tl tl ; local , ,,, eel thi effects of the radical change under wnv in tl on on. situation CineiucMlv '' 11'tention Is being gnen to far-reaching hauge Occurring In business and llname Araoiig Hi banking interior- a mint. tMiM M.,i.,riil 1 i,i iu 1 ,1 inn ,1 , .,,. ,,,., t,,'"ii.i ,..., ,- , 1 '..,i 'rnrnlng the imuiediate fin e thiin that ffttced bj Miniii lal inferes s nt other renters 1 nis umioiiiiti on is iiue to tli fact that more rapid strnlis haw been .node iu the readjustment pro ess ninl onseiiieiitl.v. I01.1l int sts are in n lusitlon to olitain a clearer lew of the Mltlook This "lues not initi I li ,t)t r, elimination of the weaker el ments of the situation, but it does ludirnti rhut perliap the local situation js better in bond than existing c .cu Ih-h-. An to the local market then are dell Bite reasons for supposing the weiiker peculatite fnn ture ha- In en reunited tV the thorough denning out of weak etied marginal or snccu'ative accounts Recent selling of th's charm ti r it 11 imi forcrti more In rea n of impaired .!' counts in the New Vork stock thlUI Iiwiiikc of inheieut wcaknes iu the purcl.t local bidding. sBjilP'tiin. Mtfl" fee 700 101 100 400 not no ti i.noo too too ,9-1 ?nj 4t IM V701 no 7oo 1400 JO 10 too too 100 .100 100 loo 1000 3000 100 30 3400 3X00 too 100 3400 3400 2100 too too 300 30U 7700 son ono too tuo 711 300 Sill 700 76 III 7')0 701 100 110 10 700 000 1000 too 3i)J 7.110 1011 100 .too sou .S1tl 300 400 0110 4100 100 100 700 3.10 10 III .TOO 100 31)0 510 400 100 500 3J0 1390 3M 17)0 105 400 1310 300 SI, on 300 13 I 2" II 3)0 600 510 10) OS 10 70 10 71 ID 1(1) J 33) 3JII 73.10 niv. tn I . . Advance TUimoly 6 Advance TlumMy pf 4 A tax ttubber Alaska Hold Mlnea . .. Alaska Juneau O M. Allies! Them A fve. High 15 . 45H 7 J4 04 47 71H )'t ;; 7f' 47 'j 41'4 3I'4 .15 H 77 M 73 ?J 177 too' 17 80 4 7 115 0' .. Allied Chem ft Dvo pf M tins-Chalmers 7 Allls-CTiHlmers pf . Ama.1 Sugar 1st pf. . Am Airrle Chem Am Arrlo Chem pf. 4 Km Mini: Vote 3 Am Dank Vote pf Am Fleet Sugar 10 Am Bosch Magneto Am Cnn 7 Am Can pf I Am Car File 7 Am far ft Fdv pf . . Am Cotton nil 8 Am Cotton Oil pf . 0 Am nrui Syn .... 0 Am Kxn'ts . Am fTMe A Leather 7 Am Hide ft Leather rr 3f.?S Am Tn'riat Corp SB" 4 Am Ic 30 Am Ice pf . , . . 55 U I Am-r a Prince Knu i? Am Locomotive ... i 7 Am Irficomofve i)f....lB0 . . Am Il.tdlntor Co. . . Am Safety Flazor.... .. Am Ship ft Com. ... Am Smelt A Hef. ... 7 Am Smelt A lief pf. 0 Am Smelt Sec A. . . 3 Am Steel Foundries. 7 Am Steel Fdys pf . . 7 Am Sugar Itef 7 Am Sueir Itef pf . 10 Am Sumatra Tob 7 Am Sumatra Tob Am Tel ft Tel . . 13 Am Tobacco IS Am Tobacco fl. . . 0 Am Tobacco of new Pf. 67 30H 1H f.RH 71, oj 3?i OS'S 61 X ll l'1 .111 .itos, s7H 7 Am Wholesale 7 nf 00 7 Am Woolen 61 H .. Am Writing I'apor pf 3354 . Am Zlne Lend & Smlt '' 6 Am Zinc Lead & 5 pf 30 I15H 3'5 11 50 H7 10 17H 3 S7 4 Ancondx Conner .. Assets Realization.., 4 Asso Dry Goods. . . . 0 so (l-v Goods 1st pf Asso Oil .. Austin Nicholas 0 Atch Top ft Santa Fo 0'4 B Atch Top AS F pf... 75 7 Atlantic Coast Lino.. '4f; .. Atlanta Blr ft Alantlc 5v .. Atlantic Fruit 7 10 Atl Gulf ft W I S S..106VS .. Atlas Tack Corp. . . . . Auto Sales Corp . . BO Baldwin Locomotive .. Bait ft Ohio 4 Baltimore ft Ohio pf . . 4714 3 Barrett IPS' 8 Barrett Co ctfs of dcblOD .. Bethlehem Motors 3K B Bethlehem Steel B. SU 0 Bethlehem Steel 1"o nfWl'4 .. Booth Fisheries. . . H .. Brklyn Rapid Transit OK .. Brklyn R T ctfs of deb Oft .. Brklyn I'nlon Gas 51 H .. Bruns Term 3H .. Dutte Copper & Zinc. 4H .. Butte ft Superior Cop 4 .. Caddo Central O & R I3H 8 California Packing. 61; .. California I'etroleum 7 California Petrol pf. 4 Calumet ft Arizona.. 10 Canadian Pacific. . . . 7 Case J I 1st pf .. Central Leather.... 4 Cerro de Pasco Cop 4 Certaln-teed Product 10 Chandler Motors.... 4 Chesapeake A Ohio.. .. Chicago A Alton. . . . .. Chi ft K III pf ctfs. .. Chicago ft Gt West. . .. Chicago A Gt West pf 17 .. Chicago Mil ft St P.. 30 .. Chicago Mil & St P pf 3'j 8 Chicago Northwestern 67 .. Chi R I A Pac 35 Chi II I ft Pac 6 pf 56 7 Chi R I 4 Pac T"v pf OH . . Chile Copper 3310 z.so Cblno Copper IsH 300 . . Clev Cln Chi & St L 3.1 4003 .. Coci-Cola 30'4 17)0 s Colorado Fuel ft Iron 26 49 . . Col & Southern go HI) 1 Col Graphophone 1014. 10) 7 Col Graphophone pf . . 83'j 100 4 romp Tib Records... too 7 Consolidated Hgar .. 30i) 7 Consolidated Gas .... 300 s Consolldafed Textiles 3 HI 7 Continental Can .... 400 1 Continental Candy . . ion 2 Con Interstate Ca! M 2400 4 Corn Products Ref... 3300 3. so Cosden ft Co... CD00 37J0 1611 3 10 too 1U0 too too 310 1001) 300 10 631) 100 UI) 103 34 JO 700 in 1 3 '') 470 300 100 A 0 300 till) 4310 100 17)'l iono 3000 sn 11 100 6 "I : in 5111 inn 5 ei 15 I'll I Ml 730 t IU M0 400 35 10 50' B0 31 I') 131 1 J 210 700 30 1 1110 71 in 101 7 0 too 30 U 5 1 1 14 r .ta. 8 Crucible Steel .. Cuban Cano Sugar, 7 Cuban Cane hugar pf 3S 7 Cuban Amer Sugar... '.'' 1 Davison Chemical Oa. 25 V2 S.38 Dttieers Co 1G 0 Delnware & Hudson '4 10 Del LacV Western315 .. Denter & Rio Grande 1 .. Denit-r ft Rio O pf... 1H 1 Dome Mines 10 10 Eastman Kodak .... 505 . . Klk Horn Coal . . Kmerson-Iirantlng . . 8 Kndlcott-Johnson . . . 7 Kndlcott-Johnson pf. .. Erie .. Erie 1st pf . . Erie 2d pf 8 Famous Players L.. 8 Famous Players nf Federal Mln At Smlt pf 35 H Fisher llody p.' Fisk Rubber Gaston Wms t Wig. 'ier Am Tank far . General Asphalt . . . General Asphalt pf . . O'tieru: flgar def pf tt3 General Electric . . G nera Electric rts 1 General Motors . . . fl 'i.n, ral Motore pf . n 'leu Mo'ors le! i"r 1 Gen Motors ilrb 7 0 Goodrich B F 7 Goodrich B F pf . . 4 Great North Ore ctfs 2C' 7 Grr.i' Northern pf . 3'j 2 Green fananea Cop . 17Va c, .If Mobile ft Nor . . S.K . . G.jlf Mobile ft Nor pf '.MV . . Gulf State Stiel. . . 30' 4 Hnlll ft Barker Car f4'j . . Hendee ctfs . . Houston fill Co 1 Hupp Motor Car 7 Illinois Cmtral ... , 60 Ind ahoma Ref . ... 4 Inspiration Con Cop Intertj ("on i'"orp. .. Interb e"on f'orp pf . . , Int. mat Agrlcul . . . 7 Int I Harvester new . , Im Mer Marine , 6 In' Mer Marine pf. .. It.ti mat Molortrutk In'ernatlonnl Nickel., 0 I11 r Nickel if Ii material Paper n inc'Ple Oil Corp. , 1 1 o I 'foil iL'tS 1. fa 'i.' T"i, -h if, I,ow 14 n 43 26 Ti 1 ifl'4 i 71 jo' ni" 70'j 47, 41U 35 414 ? !7Vi t 54 lOA't 7 6654 7 115 rt'- 36S 35 31 55 V, 1" i 7H 1(10 07 H 30 Vi 1H l!4 HH sot, 3V. 99'4 6 SO 37 M iioh 1'9 7 1014 0'm 32 H Vi 20 .15 24 II 30 17 10 79 75 "?; 5 7 103 I7B 6 .'in 47H 10H',4 10H'2 3M 51V lOl'S 34 OH 54 50 3H IV HM I1H 81 'a 34 cm 43 uifi 7W . 33 76', 36', 754 7J 3 7 V 17 23 31 Ii5 54 24 M 56 CO 8H 11 31H 20 23 25 105s r.s'i 34 32 54 77K -54 ni 5!'. 3H 14 27V4 11 l'4 5H 26 35 10 4 215 1 154 10 505 I4M 7 l-Vi 85 1754 I7J1 13 43 70' 25 07 54 1054 to 40tf 71 siKj 11S"2 3'i 13 67 no 711 rv,i 75", .3J-5 .1 17 "1 8 '.'I'i, 3DK 51 Va 14 65 i 1H 1. 39, M 0 ln' j 5 IIV4 IVt 2D'j 3'4 70 ni 13 21 i.mptreil wUhn'il .lou Trslsir's Net I, Clone Chf ! S! it - H 45 24 54 . 6'4 . n .117J4 . 80 . 35"4 76i 37 ;354 . 554 . 54 . 3 754 31 52 H 77 M 18H otlj ' 5V4 f42 27M 2!4 17 Ji 15 7 53 54 85 13'j 18'4 13 45 70 H 07 5i lb 2 54 .10 42 71 .110 34 13 07 14 0 ;o 54 :3Vj 7S'2 14 13 1 ii. 3 5a 2OJ4 '4 10 54 3 54 U'4 19 '.'0,'i fl'i ,0 II " 114 io'4- 6M 1 -iH - !0i'44 85i 3J f 70!S -31 -3 -3'J I.V, t 0V4 -l6'4-17 o!4 7 US V4 36'4- 3354 30 5554 il 54 70 - 100 - 87 8'4- kM 30H- 1H- 61 '5 P54- (11 -10 - '1 8 111 - 110H-- 1 17H 80 54-615'- 32 54 nVi 3 - 33 -2M 11 n 87 10 70 73 1 ' V4 54 1 1V 1V4 H T4 ir H 34 154 54 H 54 V 4 'H H ii '4 1 V2 ns 28U tot 600 411 1310 .00 4Hll'l' 1201 H'U 710 ion 3110 Dlv. In t Illih Island Oil 4Ji Jewel Tea 3 Jewel Tea pf tt Jonea Bros Teft..... K54 Kan City Southern.. 17 Kelly-Sprlngtleld Tiro 4 Kennecott Copper ... ' Keystone TAR.... 754 Lackntvannn 9tssl .. 4854 Ijieledn Gas nf St L. . 40 Lake Erie A West.... 10J4 t Lee Rubber Tlra. 3" 3.50 Lehigh Valley 300 100 000 1301 010 100 403 82 700 403 230 100 200 too 200 18100 1030 58 II 4500 200 7 11 11 700 4U0 2000 400 7600 200 000 700 100 3000 1500 3J0 1000 100 . 154 3 .131 . 13 .127 H . 1" .125 9854 It Liggett A Myers 7 Liggett A Myers pf. It Liggett A Myers B. . t Locwe Co . Loft Corp 12 Lorlllord Tob 7 Lorlllard Tob nf 7 Louisville A Nashville C754 6 Mnckay Co 57 10 Manatl Sugar 664, .73 Manhattan Shirt .... K t Manin-Parry 1754 . . Maxwell Motor 2d pf 3 . . Max Mot 1st pf ct stu 3 .. Max Mot 2d pf ctfs.. l'4 It Mexican Petroleum . .1C0J4 2 Miami Copper 13'A .80 Mlddlo SUtei Corn... 1254 4 Mldvale Steel A Ord.. .10 H .. Minn A St Louis 1054 .. Mo Kansas A Texas.. 354 .. Mo Kansas A Tex pf 4 .. Missouri Paclllo 17 Yt .. Missouri Pacific pf... SOU .. Montgomery Ward... U'A . . Nat An ft Cli ctfs. . . . 4854 7 National Biscuit 100 .. National Con ft Cable 2Ji Nat Knam ft Stamp. . 4754 8 National Lead 7H . . Nat R R of Mex 2d pf 1 Nevnda Con Copper. . 8H 10 New York Air Brake, fl B New York Central. New York C ft St L.. 1700 f.so New York Dock. H - I - 4 s4Ji- 5 - 7 1P3 4- 17M- 7 4- 54-11H-4754 1614 1084- 2H- 5155- 10154- 3H 0H- 64-- 51 - 3H ''- I1H- 01H- 24 - 085-5 -r 43 113 - 74- 35 - 76 4 364- 12 4- 4,- 7M- 5 7'4- 17 754 31'4 - 4 V 4 itM H 4 54 i 55 ' 4 vi 4 4 1 54' 14 i 14 4 4 34 1H '54 i IV. 400 3100 100 100 1.701) 200 HUU 0000 2300 100 1400 too 1500 100 1U0 1001) 100 110 5000 400 3100 300 300o 200 3D0 30110 1390 100 100 200 100 4000 100 300 3500 1500 lOOO 330 68 V 53 ISM 40' 10 10H 13 6H S New York Dock Df.. . . New York N HA H . 1 New York Ont A W. .. Norfolk ft Southern. 7 Norfolk ft Western. 4 Norfolk ft Western pf 67 fl Nova Scotia SAC... 284 7 Northern Pacific 70 40 Okla Prod A Ref.. .. 34 .. Ontario Silver Mining 4 2 Orpheum Circuit ... 3454 8 Otis Elevator 123 .. Otis Steel 14 4 . . Otis Steel pf 75 B Owens Bottling Mach. 45 .. Pacific Devel Corp... 13 B Pacific Gas A Elec... 474 .. Pacific Oil Co iv 1 ... 34 a Pan-Amer Petrol .... 70 6 Pnn-Amer B 604 3 Pennsylvania R R. . . 3M .. Penn Seaboard Steel. 7 .. Peoples Gas Chicago. . 34 Ji .. Pere Marquette 16 54 8 Philadelphia Co :3!4 .. Phllllpo Pet 28J .. Plerce-Arrotv Motor . lOi 8 Plerce-Arrow pf .... 72 .. Plerco Oil 104 3 Pitts Coal 564 0 Pitts Coal pf S3 .. Pittsburgh ft W Vu . 27'4 1 Pond Crek Coal .... 134 8 Pressed Steel Car.... 7 8 Pullman 094 8 Punta Alegre Sugar.. 42(4 4 Pure OH Co 37'i 8 Railway Steel Spring. 70M 430 l.ss Hand Mln Am Shares. HVi 14 ',4 f3 374 70 Low 4 3 84 tf J4 :3 iM 7 4J4 48 y, 104 164 52 130 (5 275 lW 1" 173 08 07 54 87 00 It 12 2). it 14 155ft 154 U4 3014 104 3 454 ,! 36 ' 14 48'4 V 24 4054 074 3M 14 M 074 .12 17 4 384 15J4 10'4 13 5f4 07 28 75 3 4 4 234 123 134 73 454 12 54 47J4 314 -.44 ee 3954 7 334 5K ?3 21 'A 10 72 10 4 564 N3 304 134 78 BH4 114 32 794 54 4 J4 14 1 V t4 14 14 '4 14 4 5 "4 54 1 J4 1 H l'4 4 Vt 4 Vi New York Bonds t64 14 24ft- 4 56 - 4 00 5i 14- 4 H54- V4 324- 34 20 - 4 33 - lji 25 - 14 1 4 24 4 4 54 4 4 5 4 4 4 4 104 - 524 774 114- 01 - 5 54-34- 14 - 27'4 -814 174 f 37 -26 23 4 10 -04 215 -1 1V4- 10 - 505 - 14 4- 7 514- 85 - 12 '4- 174 1.1 -434-70 4 -75 -07 4 lu 4 - 2 4 (10 -40Hj -71 M4 -llhVj- 34 13 07 1'0','j ;0 - 74 iS , M 4 3 17, 1?4 ;l''4 "54 mj ii - 07 4- 44 3 -ii 3 J, 3 4 U - in., -1 3 - II' - 74- 30 vt - 17 4 70 4- -1 - - I ttiiri s Ntenl.i) 2100 1 Rny Con Copper. ouuu 4 Heading , 100 t Reading 1st pf.., 400 Rending 2d Df..., 100 .. Replo Steel 9000 0 Renublla Iron A Steel 5014 100 4 pub Serv Corp of N J fi 100 . . Republic Motortruck . 18 4100 3. to Royal Dutch N Y.... 5SJ4 2000 1 St Joseph Lead....... 11 2200 .. st Louis San Franc. 20 300 .. st Louis San Fran nf 27 ..St Louis Southwest.. :34 .. St Louis Southwest pf 35', . . Saxon Motor 3 .. Seaboard Air Lino... 04 .. Seaboard Air Line pf 104 8 SearsRoebuck 8 i 7 Sears-Roebuck pf ...I004 .. Seneca Cod Corp 104 71 Shell Transport .... 38J4 .. Sinclair Oil 23 4 .. Shattuck-Arlzonii Gop 5t4 12 South Porto Rico Sug 71 0 Southern PaelP.o SV4 .. Southern Paclflo rts.. :34 .. Southern Rail 20 4 Southern Rail pf 374 16 Standard Mill 100 to Standnnl Oil of N .I..002 7 Stand Oil of N J pf.,10J 7 Steel Tube Co nf 70 4 Stewart-Warner Speed 204 400 400 1000 100 100 2030 200 330 1300 10000 300 400 0600 0600 10100 300 300 50 1200 100 200 100 2100 200 2100 100 100 3330 651)0 300 3700 300 4 Stromberg Carb 7 Studebaker 7 Studebaker pf . Submarine Boat Corp 2 Superior Oil Corp.... 6 Superior Steel . . Tenn Cop & Chem.... 8 Texas Co . . Texas & Pacific 1 Texas & Pac C ft O. Third Avenue 38 40 81 04 124 42 54 74 434 174 3414 13 4 30 1 40 30 4 20J4 115 C4 30 V, 1 14 4 4 4 4 1 14 4 4 4 4 4 4 3 4 !4 V 1 V, Hi A 4 1 200 2.S6 Times Square Supply. 330 a Tobacco Products . . , 6303 .. Transcontinental Oil , 400 b Transue ft Wms Steel, 100 J. 80 Twin City R T 11 W .. Union Oil 2000 4 Union Pacific , 100 4 Union Paclflo nf 410 4 United Alloy Steel 300 7 United Clear Stores Df 08 4 100 8 United Drug 12 1700 is United Fruit 1984 500 .. United Rwy Invest... 84 1100 .. United Rwy Invest pf 18 200 ..US Realty A Imp... 38', 24 0 8 United Retail Stores . flj 300 ft U S C I P ft Fdy pf. 43 23.0 6 U S Food Prodocts.. 184 15.10 BUS Ind Alcohol. 200 7 IT S Ind Alcohol pf 10 II H U S Rubber 100 8 U S Rubber 1st pf . . 4U1 0 U S Smelt ft Ref . . . 1110 3.80 U S Smelt & Ref pf. 153 10 610 30)0 7110 15s0 210 100 300 101)3 203 10 10 300 1100 100 3J0 too 2U0 7.0 15.1) 100 710 11 0 151 24'lu A. Ill 330 7u 3 4 024 '1J, 094 12 40 70., 1C3J4 484 84 37 V, 30 'A BUS Steel. 7 U S Steel pf fl Utah Copper . Utah Ser 4 Vanadium 4 Va-Carollna Chem 3 Va-Carollna Chem nf. (Uii fl Va Iron Coal ft Coke.. 85 1 Vlxnudou Inc 04 . Wabush 7 4 , . Wabash pf A 194 , . Wabash pf B 134 , . Wi stern Maryland .. H'54 , . West Mar) land 2d pf 14 , . Western Pacific 26JJ 7 Western I'nlon Tel... 124 7 Westlnghousc. A Brake 13 4 Westlnghotise i: ft M 41 'A ,. Whe. ling ALU 4 , . Whiellng ti I R pf., I.I.. 4 wnite Motor , . White Oil Corp 8 Wilson ft Co 1 Wlllys-Otcrlatid .... WIIIH-Otcrland pf.. wooiwoitn F W. 0 Wortliington Purify . 34 V . 14 . :.7 4 . 3J4 . .-IV4 .103, 384 21 H'4 794 70 57 54 174 35 y, '04 1.14 274 224 33 24 '4 104 884 100' 10K 38 23 4 fi. it ffl54 3 4 10V, 7 too 600 i!034 79 204 38 304 81 84 134 424 7 414 17 !34 134 74 80 K 64 37, 36 54 20 4 "44 04 4 30 K 08., 12 195 8 18 38 51 42 If T3 J2H HI 0B JJ 314 40 I84 T5.4 474 14 36', 3014 V4 4 t3 4 4 7'4 18 4 13 M 14H Vfl 24 1114 II II I5.4 34 I4J4 74 655 .,1 105 38 Today's Net CIo Ch. 44 3 -84 15 - I0J4 3 - 7 - 4754-394-104-164 52 - 130 95 - 125 - i4 1') - 125 - 98 -074-57 - 64 10 - 11 -24- 3 - 14- !.'- 34 I8V4- 4 12 304 4 104- 4 3 14 4 44 .. 17 36 .." 14 - 48'A 90'4- 14 24- 4 464- IV 34 84 81 -7J4-53 -1754-3S4- 134- 104 13 -34-07 IS -754- 34- 4 244 123 4 4 74 444 114- 14 474- 'A 3854 75 -69 -304-7 -324-154-32 -284- 19 -12 -104 304 85 - 20 4 134 78 - 014- 14 2' 1 32 4-704-21'4 -ll'4 M4- 52 - 50 - 70 574- 54 18 56 - 104- 194- 27 4- 224- 35 .. 24- 04- lu'- 814- 100'A-104- ns - 23 4- 54 71 1 Hfl4- 14 3"4 .. 10 4- 4 57 -10O -lul 1034 70 - 2654- 8 30 74- 81 0 24 134 74 -34-13 4- 74- SO'J-f 4 :-o?, 354 304 .. 204 H455-644- 3I4 0NI4- 03 - 105 - 1 - I8V4- 31 -514 42 -17 - 03 -034-'.15j-oo 4 32 -J 40 14 1)5 .,- 474-14- 7 -30 J4 04 4 3 - 34- 7 5'4 - 19 13 - 04-144-r 20 34 03 414 t) - 134- .14 4 .7 H - ii si 4 105 - 38 - 10 OTHERJARKETS Larger Results to Be Obtained Through Liquidation on Stock Exchango A 4 "4 4 4 2 4 34 4 "'4 4 1 2 4 4 54 14 4 v 4 24 4 14 l'4 V, 24 i 4 14 4 14 '4 14 4 "i4 2 24 4 14 24 1 4 3 4 4 4 1 H 4 , IV, 4 4 1, 4 V, 4 4 '4 54 14 1 34 4 14 4 ' V, 14 4 H 4 v 4 2'4 34 l'4 4 4 4 '4 4 Now York, Dee. 18. There was no feature on the Ilronil street curb today, n few Issues making moderate declines, while others were rIIbIiIIj- higher. Ap parently the Interests often netlve In curb mnrket Issues were epmpelled to devote their attention to dealings on the stock exchange, and other security trad ing markets, where larger results rotild be obtained through liquidation of se curities. l'rloes of mnny stocks on the curb are also at so low n level thnt few of them could show any Important declines, no matter how great the selling necessity might be. Kmplre Tube was one of the firm features, ranging from 18 to ID. There was n moderate amount of business In the paper stocks nt virtually unehnnged prices. Dealings In Stnnilnnl Oils were few nnd generally of small nmounts without ninterinl change In price. A sale of Alt Reduction wnN made at !l"Vl. IN1HJSTUIAI.H lllsh 44 37. 7N Amir Writ Paper Air Iteductlon Car I.UM Kmplre Tube Kurrell Cnal (lood)enr Tiro tlnodrear Tire pref . . Hercules Paper lle)dn Chem North Amer Paper .. Rftdln Com r. . . Hadln Com pref liny de Franco U S Hteam I'nlte.l Profit Sharlni I'nltrd Itetall Candy ttHnu Lviai ;" '-'V4 INDKl'KNDKNT (Hl-S Allied Oil 17 10 Arkansas Natural Oas . . . 7'4 7-i IllK lleKrt 1) 0 lloone oil l Vi llomon AViomlnic U Cunhlns Pete A Dominion Ol 7. " KnKlneers Petrol 1A In Federal Oil iH 2 tllenroek Oil 2 'J tlranada o 3 lludxon Oil A f, Inter Petrol 164 10 Mararalno Oil 1.V-, i:i Merrltt Oil llt4 11 Mexico oil IS Hi Mount l'rod luHi 10 Hyun Cona 114 MVj Salt Creek Prod i!llH 2114 Salt Creek (new) 10 11 Hlmms Pet tl4 114 t'n Texas Oil S Victoria Oil tnow) t 3ii.vi.va Alaska Mines 1 t Atlanta 1 1 llo.it ll .1 3 llonton & Montana 42 41' Caledonia Mining 17 17 Calumet & Jerome ; .1 Camlelarla Mlnlnx 12 12 cons Virginia .(ti a'. Cortex HlTter U 112 ('reason Oold 1". 14 Kl Salta.lor A 4 llureka Croenus 37 .ID Kureka Holly 14 1 ," (lold Coiih 6 ll (loli! Detel 1 1 (loMrleli) Klorenea 11 11 (lold Ketvarris 1 1 (lolil silver Pick 3 5 Oolit Zone 22 21 (treat Hen. I 1 1 llecla Mining 44 44 Iron Itlnxsom n A Jumbo Kxtenslnn 0 a Knox Dltlili) 1 s MeKtnley Darrash 24 21 MacNamara A A MacNamara Crencent .... 4 4 .MarHh Mlnlnif 7 7 Mother lode .'..I r.". North Star S B ophlr suiter A A Prince Con A A Ilex Cona 3 A Itorhehter Mlneii 3 r Sin Toy 4 4 Milter Klr Illvlde 2 2 Miami Kilter I-ad A A Huccean .MlnlnK 2 2 Tonopah llelmont IS 1 Tonopah Caih Jluy 3 ! Tonopah Divide, 1A 14 Tonopah Kxtennlon tS 1 Tonopah-JIm llutler . ... 10 l'l Tonopah Midway 14 14 Tonopah Mlnln 14 1A Tonopah Mlzpah 7 7 Tonopah Momana s S Tonopah llencue Kula ... IS IK t'nlted riantern 2A 2S Victory 5 fl IVet i;nd Cons . . . . J . it Wllliert 1 1 IIOMIS Allied l'arkeri. (la 32 32 Anaconda iU . ...... M4 814 Anamnda 7s. 1!I2'I . ... W Mi, Amflu-Amer Oil 74a W!i 004 Diamond Match 7 4 Iif' l'0' llondrlch Tire 7n S.14 834 Inter It T 7 074 "74 Me.ilK.Knl 'In . ... 434 I,'i4 Hears-Itneliuek Ts t74 H7H S, am-lto"liui'( 7h. 1022 M, ti.l'I Mearn-lloel.ucK ,. 1 H2.1 . 114 t4 Sinclair 74" SH HkV, yoltay Sb . . mitj 1194 MWITl (o J H.T4 QVA rixaa (o it H74 07 I'nlon Tank 7a 1011 100 (.a If 7a . inn ion .-,) N Y 7s. 1P20 .... 100 ion Mo N V 7e. llt.1l t0()4 innVi City of IlTKen s nw. sr.4 D.nmark ra n7"i (17 Norway Ss mi. nntt A emit tnti 2 . 71 1.!.!! 78 1 7.1 1 i City Toklo :,n A 43 Ci 0 Cln en. Ct Ii 3 704 l.i... 73 4 Coin & Ho'r 4 Am Tel A T Isl n 73'i 1 7n' Colo A H'n 4 4 4 70 1 70M M' 1 1 1 a A 70 4. a 11.. 1.. 1.. 10 . 4. 1.. 10.. ,1.. 1.. 1.. 1.. 10.. ,10 . 10. . I.. 1.. n.. 1.. , n.14 2 704 , oai 3 704 I ' Cona'd (las 7i , 75S 2 DO 7I t iman C H ct 7ft . 11 I ,( - 4 'on 11... 0 74 7.14 74 734 73 . 73-v, 73 73 4 74 I . 7411 74 4 74 , 74 4 714 74 SO 80 4 til I'mtat I I- .. 77U .. 77 .. 7n .. 77 .. 7. I-rub .. nsv. .. imi At Coast I. clt 1 0B Halt & Ohio cv 0. 8.. 3. 1. 10.. 1.. 10.. 2.. Ilait 1.. 1.. 1.. nr4 , . r.r, . . fin 4 . . nr. 4 . . 0.1 o a4 . . 70, .. 70 70 7S'4 70 70 70 70 7Si 7H, K 7BH till ' 70 77 4 42 4 024 no Halt & nlil Is 4 m 3 014 a 04 Halt (Ihl . 8 04 1 03 8 . . . . OS Halt ti Ohl.. lis fl SO 8 80 1 .... 804 3 80 11 n o l I. 1: A W Va 4 s 1 01 V 1 01 II A () Tol 4a 1 82 1... . 82 llel Tel 7 reta 21 1014 8... 101 i Ileth Steel fd 10 774 I eth b'l 8s 10 3 7.'i 4 3.. .. 784 P 1 'opp"r M 'Is 8 83 llrkyn It T r, 0. ... 214 Prion It T 7a 8 414 10 42 . .it r . 8 II 41 fl 4. 11.. I.. 0... 4. 4,., 1... ft 1 2 ell A ll 3 Den A It A Pet It It 2 D Can ns 1.. .. 08V I Can .' 14 .'I 3 08U r fnmide B 80 D Canada II 1 s- D m Iter 1 73S Kastn T Vu Qcorcla en 8 86 Erie (lent l.l-n 2 4114 4 40, 1 404 13 404 llrle It It ri A 0 .. . 30 1 2 304 ilienel l;l 2 ... ion I. .. ino I. .. ion 1 1004 flov't K ll t . New TKII1 Itarl'd 0s 10 00 S Tk LlEht II .1 I'wr Ba B 81 N V illwys 8s 1 34 N i Tele's 1 sr.'; 0 8BU f.ttt V W . lloalon 4 4s 1 .10 ftlsKart l'alts itter 8a 1 87 j. Commodity Markets tSAt.ns W noooi COTTON MARKET Nfitv Yorlt, Dee. 18. A renewal of southern hedge-selling caused heavi ness In the local cotton market this morning. A decline of (I to If! points in first prices was followed by further N Y Tele 44s losses, so thnt the market was nbout s. '.'.'. 784 "M n points net lower on nctlvc s'. '.'.'.'. 784 positions. 'lo some extent bearish weekly sta tistics operated against new buying. There was continued apprehension over outside conditions. ' Southern advices ngahi noted n poor demand for spots. Trading continued very quiet during the morning with fluctuations corre- i spondlngly narrow and Irrczular. Kvl- 71 dently the better tone froil tho goods I ' tnulp nnd the hone that new finnm-lni ,' , corporations will facilltnto exports laucii to crente tiny buying nf conse- nuence and early bulges were not fully maintained, l'revloua Cloae open lllsli ltw Cloa .. 13 40 13.23 la.IlO 18.13 18.12W1S . 13 4.1 13.33 13 40 18.18 IB 10lH .. 18.37 IB.2.1 18.30 18.12 18,I8MR .. 13.111 18.80 18.10 18.22 18.23027 .. 18.48 13.37 13.48 18.311 18.30 .. . 18.30 18.44 18.811 13.33 1B.33S38 18,03c, 1 10 6 N k A V 8.... 1024 N'n Pacific Is 8 74 8 74 20 734 mi t 2 77 I'ae It ot M 4 10 734 Pac T A T 3s 1 80 8 704 l'a lilt en 4 4s 1 8H'4 4 88S Pa 1( cm 4 ' 8 704 1 70 10 7rt'i 1... . 701, 3 704 irenna It ll 10 8fl renna II It ' Dec. Jan. ..March May . JUIV Oct. . . Spot, 1. 1.. 8.. 4.. 1. I. 104 101 101H 103 t 103i 104 103 24... 1... 1... Ci .itr.' 1 10 .. 100 loo 100 100 101, 102 tlli 102 Od Trunk eta 4 100 1.... 100M, lud A Man CI 1 8814 0 884 1 88U III Central fd 724 111 Ct'l 4 V 4 07 Hi 1 3 117 1 4.. . (17 2 Ill C Ht I. A N St I.ouIj (I Jt Ilda 8s I Iran aj 1 7841 3. ... ImD'a Sice' '. 2 tk..... 87 0 '.tVoplea Gas Li A C Co Bs 2 02 2 02 IVre Mnrqt 3s .. 80 ruhllc Service C'n N J 8s 1 8114 IP nillnu- Ilv Is 1 78 1 7R' 7.. .. 784 1 74 0 7H4 12... . 784 I.iicU - 13 88 Itlo O A W 4s 2 01 1 01 It I A A L 4 04 04 A 024 02 'i 1124 Inihoru M 4 '. Et l.uuls t 3.. 3.. . 8... 3... 7... 20. .. 8. I.rkn Itapld T Int Mot 7- ct Sta 8.... 2 38 Canadian N'n ltttjs rcpts 3.. 3.. 4 . 00 V 100 00 2 00 4 00 8 00 Ct'l of Oa 0a a 844 10 St 'j 10 814 III l.eathe. t. 2 .... 8fl 8 804 CII Pacific lfl 1.. 4.... 10.!.'! 8. 14 Vi 14i4 II 144 14 141 13 l 134 13 1.1 1.14 13U 131 Intboro II T ' ll 8... 10... 8... 8... 10.. . o ii!!!! in... 30 . 24 .. 47 Pran In 1. .. 10 8 0... . 13 II. St I. A S 1 Merles A 10.. . 0 28. . . 1 .. . 8 0 .. .. St I. A S 4 47 t, 47 48 47 4 47 47 474 47 4 474 47 47 47 47 47 I'ran onv, 00 noi ao o BOX I'ran 10.. 1.. 1 . Serlea It 8 70 1 71 SI I. Htv'n lal 1 OS . r -lid A 10.. .. 334 .ISeat.M A I. Id 1 40 47 E " Poll Tel Ba 47 14 I 81 47, 474 474 10. ... 71 10 71 1 71 . Ch'k A O 14s 3 . 721, 10.. r a u cv i j- I .tl .Marin 12 71 1 11.. .. 70 4 C'k A O cv 5J''i Hot 8 SO', I 1 7 V.I 10. ... Sll'i' 4. ... 73' 10 Nl)i;'Jap (Jote't la ..1 N0, 27 Ml CAA char 4 30 80 3 814 So'n I'acltlc fd B. ... 73 1, 1 .... 73 2... . 734 So'n I'actflc 4a . . 08 4 ac cv 4 ... 744 7 744 3 .... 71 20. ... 744 S'n 1'ac cv Ba II) 07 14. S'n 73 Q 4- ns, oati o.4 us 4 084 Kan Thua far tlila et. remlttiineei tu Kurope ftir the ("liriHi I "ias holidays A to tt blirli rii'i-ril m traiisaLtlonH the, w(,h rearhed In .Montreal todaj In the the. "'' Vorh premium at 1 per cent The ,lU,..,l. I ... ..II ... 1 . 1.. ... I'....,. 1 .-..,.. Ill (III , , ll.l, 11. Ill IIIIlll 111 .x,.. I ... .......... ,..!.. I. ..u I...I ,, u ..ml. nu IT V ' IITM,, ,'..,(., .1 LO I'll., i, n...,' , r . FOREIGN EXCHANGE lork. Iei 11 'IIih foreiini ex . hange miirhit . c nnf Innat In dealings late !,iai t.nink' ami at bad I ing eat ! t . 'in1. .lit i ill, . II n pre M'UsIt on t h. rlee Sterl hies wlie'i tut .1 risen esterday tu 3'l', fell this morning t. .111. I delll.lli.l iron IS I, tester- in I rii l-'ranir. tt'inh touched fur fillies, f.ll ti B 'i'i and i hei ks '.H'i Ilre i. il.le. from , js. de d to J 13 this iiioniini; anil iheeUn to There were lilller uu.it.ltUins Here Stt sm I'.iblis 1.". 17 ebei'lts 15?'i; guild, r cildes ll 33 i h ks 'll 25 ; p.v seiii i eiililes IP.7 ciei ks 13 05, Hto'U holiu i.ibli'e I'lH". (h'.Us I!' 75; CbriK t aula iBbb - 1 4 'ti . In i ks 14 !i" . i:opn , iu, n c.il.ls 15.15 cheeKs IB I". Il"l Hi, it al.Ks 6Ju. ch'tlxi i. '.' nuirki I JJ4.. Thi declines were attributed to iho cuiiUublun of the Unit In which to make "as a in tt ri curd (it 1 no bids In .eit York. Th re tt.is ill iu, iiit no mark, t In the central Kurupean hanges. vi:mti:i:i. i v m tina;. ijcotitkis's Mler ina I'ranis I. Ire (Juildira Detnarsl . .1 ..'4 OU7 3 11 .11 4 J 'alilea 1 ."..I'i nun fl an 31.1." TuDATM OI'KN'IN'fl QtTlT ITIf.N')- Sler.lnic Franc I, Ire Clijit'er Iiemand 3 4'i4 SHI1! 3II 312.1 Cililia .1.104 B HI .11.1 31.11 t'l.riSINIJ QUOTATIONS Mierllnij Franca I, Ire Cullderi :i f.n'i a 02 3 4.1 .11 is 3 .11 .1 III 3 17 31 2.1 Iiemand l 'ablea DIVIDENDS DECLARED Coaden A (' .jinrt.rl) f ir.'L, c, nts ()n ..nun. Hi, ..ia. IM.runrt t In alock of -i cord Ilecetnl.er 31 (ire.it Northern llullttat fn nnn.rlv of 1. inr cent. 1M ll.li Pel.ru, i, i Hl,icl( of rinird Januart .1 NaumUe.iK Me.im r',lt,,n 1.1 paalli January 3 in Iiit, nilier 17. M.ireonl'a W.relem Teliurnpli Co., r.l of l,in'lcn, Interim illiideitd f r, per cent' on ordinary alian-a an. I ,i illtldend uf 7 per ent on preference H.. Knxllah Im), both p.ouble Pebrinrt 1 lu aiock of record De- lelulur l'l i o H-mUnnual stock of record BANK CLEARINGS Hank clearlnsa twlat compared tilth rur- reaponitlna ilay laat two years: lii'.o ini'i mix BAR SILVER i-niu lal 7iei '.in 17.1,25s in iiio.Biui.sns nnuii,i, itt 1 ! iiit mi nil m a 1 nor mix r ."lin ui'tiiiiii,- in Minuon CIiIhiko . st 1,144 today at 4 Id. Ilalto.... 13.U71.1P1 1J, 827,742 Philadelphia Stocks Hlsh 1 R.-i; Cloatt 211 Net CtlKO. 00 no . 20 . 25 . r.svc, r.s r,h nn 1 si) :i 72U,.. 12 Vi 2'4-f- Is Vi.. I I f Vl J 70 .. .VJI& 1V5 Hi'. , MVi . . TU',.. aii. v, (1.1 w. -no . ni nnip !;! 22 Am Cns. 21) 2!) 10 Am Ittvys ,o-i.1,rPf " 17V2 "' 17'j 1 -.11. till ,-tIllllI 1IU 5IIJ llllltlteth St'l It .... f.1 TllV. r.o itriii .1 1; no no 200tCorrn,de 1'iit-eo . 2i) 20 200t('..l Fuel 2.-1 2. 20()t(,iihiin (' pref . . 4 Con Trm n .1 ... ftr. an oin i;i stor. 112 mi aoottit X pf 72 Vi 72 lOOtlnXIrkel 12 12 111 I (' X A 2 2Si. in Ke Tel SV. si, 200tKennee't 17 Uil l.SKH.uke Sup Ms ,s 2."i I.eh Xni 70 70 lOIeli Vol n2.j .VJK. 2S4tI.ee Kub IllK lll.'. ,-ilHMit.Midviili'.. 30 1', :()' 2(MltXor I'nr 7tm 70 ni7 I'n it it. :i!iTH an".; J00 I'n Salt . (hr( on 11)0 I'hilu Co urn pf. .')'.. an 120 I'hil Klec 21't, 21':. ll do pref. 27'. 27', UNO V It T.. II'J 14 200tHiiy funs UVi 11 1 ntltead'ni:. S2 S2 200tSoii Ittvy iref . . . 57 lOOTono llel. 1 1000 Ton Mln. 1 rVt l,ri4H T (i I.. 27 1 I'nl Cos of X ,I..1ltt 20tCS. Steel 7!'m nOOtl'tih ('ii IS 21MI We-HiM' 41 '4 III) Yoik Ittvy pref . . . ao ao Total IIKIfcon compared ttl'h 1170.7.10 ralid,o Thus fir llilr tk II.H77 U'.n Nt ihanice made by comnirlann ttlih laat null on Nett York stock Hichamo. Malca in !!!,NI,S. Net IlllOO lllKh Ijm ClilBe cIlKK Its ltell Tel 7s.l01'i 101 Vi 10IV4 I", S Klec tc I'm Tr .... r nn n.-, 1 a Inter-lntc Itttv I-... 20 20 2(1 .. a Lib ltonils 2d l'S.. IVm .'Id 4',s... no nil iVis. 2s Vic X 4'V,n 2 Xnt I'rop I -On .... 12 I'n It t is "fl.'l.KI I'hilu Kl isr ns.... N2K 70 7i)3', .. To'al ralea. 10 171 ahari.. toniiiared vtlth 10.782 aliarej yraterla. Thua fur thin viBrt. 117.13 shttrea. A S 3a 2 .'. ..07 . 82 Bo'n 1'ac Ter'l Kan City Ter'l 3.. . . 00 lltvya 4a Sn Italltta la 7 .... r,0i, 1 . .. .181, is. ... n'n;l 4.. . 884 2 . . . 00 iTrini An li.l'n.V 'lure ' 8 2.14 lia!t4 2 8S rnlon Pac ey (18 4 S Ml I 10.. . 80 1)5 4 1- ll" B in I I'lon l'ae 18 00V, 2 T.Vi 111 n)U Union I'ac 4a 1. 1; 4 tin Isi 1 80 Laki Bhor M S'n 34 1 0.) 3... Chi i: 8 . 10 1 I 10.. 1.. 0. , 8.. Chi & (1 W 4a 3 81 4 Oil I & I. fin 1. in Chl M 4 I'ust Sound 8s 10 04 ChlciiBo Mil ftll.aku Shore I St Paul 4m S'n in '31 1 caij I.itilk-h " l B 00 i 10 ... 70S, 7. ... 034 1 0 IIS rhlciiKu Mil ftil-ehUh Vl't 0 MtP cv 11 I 8 osi; 7 08 s'L A Mcr - 2 US', I 4.. . 102 Chlcasn Mil .1. rlilard . . StP fd 4 4s I 1 .. 77 4 8 88 411' & Naah irr.ld Chlcaa-o Mil Al 1 . . 03 StP cv Bi M"n ll Sta 4a 8. ... fl.1. 2 .1. . 118', Mln & St I. fd 0 0841 -. . . 41 Chl f. N. - Mln 4 St I. 4a 1.... 101', I 2 41 Chl It.illw. .1- 1M0 K 4 T 4 fi.. . C It I r.!.! a!!.' 3. c u 1 3 r.o I 20. P fdl 8.. 04'1 0.. 114 I 10 . n 1 I 8 . . fll", 23.. 114 1. 85 4 88 4 58 4 85 4 8.1'. ,1.1 r.a 4 1' 4s M K ft T notes I'Ukl 10. . . nil 1 Chl U Sla 4 4 Mo Pacific 4s ' S . . 78'.. 20... . .'.It, Chicago t'nlon 13. . 81 Sla ct 4a 1 2 .11 B . . 1114 Mo 1'ac ,1a its 1 1011, 8 . . . 70 0 80 1 804 10 ... 70 4 U K of O Ilrlt A I'd 1021 10 07 1... . 07', U K of Q llrlt A I'd 1022 II 04, 10. ... 04i U K of (I llrlt & I'd 1020 1 88". 10 RS, 18 S8; 10 .. 88, U K of C. llrlt A I'd 1037 3... . 8314 10 834 10. .. 831, 10 S34 B... 834 B.. S3S Ufil ll'ila San P unct 4a B . . 28', U Itubb'r Ba 1 724 8 724 .1 . 72 724 72 724 20 1 1 I' s Hub ;.. Chl A V I 4H..nl a Pit 1 ss'r ! h Sti e 07 07 07 ao y. 2131 v, ll'i-f- w S2 . . 1 In 1V1 S7i nj'?. .-,7 !5 1- A 'f'lT I 27 "h 10S HIS 1 70'm 7!)'M-f- V, 4SVS 4si, a IV1 41'i ', ao 1 . 8.".0l rCi.on 85.00 . 18 K7.ao87.aos7.ao .20 . Sn.2MrCl.O0rCi.IKl ,(J . 11n.001m.oo nn.oo.. 1 1 1.. .101 101 101 .. .. bi 4 81 18 4 N Tube Co Ba asi 3 . 87 Cop r 1, a, New Or Ten A , . . 0.1 M.'Ulco 4a .. (14 'i I 4 00 114 N V C A II It III I It 34a flou't 2. .. 01 1.1 Chile 10.. 1.. IN. V' Chlni ll-K Illya 81 a 10 t 40 1 40 1 up 7.. 1 10 o 0.!! u s s .1 0014 !l) . I1114 . HOS, . 004 00 . 0114 8a teir H'.i i I ml Va Hallw'n .is I . .0.1 1. ... 80S N V c A II II, in 804 it It 4a 'Va Illy A P 8 Til 8 . 03 Vi N V C A II IliWeal nluiie 4i City llorrt 1 . It It 14 1 08", 3. ... 78 4, 1 . . 7.1 I 4 08 4 1 . 7. . N v c a 11 it 10. . nsv; 8 78', 1 ll It Ha W L'nlon 44a CPf Chrla i no I 1 , 7.14 3. . Iil'd 10 . on I 1 7.VI 8 . . n.14 t . nni; W B A Mfc Calle Cop' "s 0 ... IiOH 2 . .. D4 4 7 . 01 N V c II II 1 . . . tit". City Mara s II It 7a r.i, 1.. . 0I. 1 . . 7B1.J, 2 .. lOOHjl 2 04S C of N Y 44a, 3 . . 100UV A I, B 44a of May '87 N V I'lll A Si 1.. .. 481J 2 . 113 I l.oula 4 'Wllaon Co CV dlv Pari- I 2 . 771, 1 2 M) 1 024, 2. . . 77,Wllaon Co 1st 1 t)2J 1 2 H44 Total, JO 181 Ono compared ttllh 124. B27. ion inl.it. Thus fir thla iteik. 112.1- 830,(100, )tlh I.ott Close Liberty .'t'.s , . (10.12 Vl.00 HO. Oil '.Iherl.i 2d Is 81 .,(', S r,n si.no Liberty 1t l",s. . 85 St) 8,1.50 Sn 50 Liberty 2d l',s. S...0I 84.00 84 00 Libirtv ad I Mm.. 87..VJ S7 20 87 20 L'beit) 4th IH. S5 10 K,.U 8n 12 Vic Notes :i'th .. nn 00 115.00 11.-1.00 Vic Nolcx -3S .. im.oil )5.fHI 05.0II WEEK'S INCIDENTS VERY DISTURBING Financial Community at Loss to Satisfactorily Analyzo Con fusing Situation GRAIN MARKET CIiIchro, Dee. 18.- Wlient moved IrrcKiimrlv In the enrlv tmdinp tndnv. There tins light bnyln'sr by commission l....,.nu n !. ... lfr..f . i lu.ini--, in mi- niuri, irucrinRs were noi InrRe. The piirchnslng power proved to be disappointing, nnd this nttrncted some sellinK pressure. There were no fresh export orders in slslit. Tnlk nbout n tnrltl on wlirnt nnd flour appeared to have lost some of its influence, ns Ar gentina nnd Australia are practically ready to ship their new crops. It was argued thnt further advances In values here would drive foreign buyers out of the market. December opened Vif lower nt $1.(11) Vi, nnd recovered the loss. March started nt $1.05 to $1.0.1, against $1.01 ut Hie end yesterday, and later Kold nt $1.05. May ranged from $1.51) to $1.00 nt the outset, against $1.58. yesterdny's lost price, and later sold nt $1.5816 Corn was firmer In the enrly dealings. Selllnc Increased ofter the start. Trade was light and mixed. December opened Vic up nt 70c, nnd nfter declining to C'.)r. regained the loss. May started at 7t,4e to 71!5ic against 71c nt the end yesterday, and later sold nt 71. July was quoted at 72V&C to 7234c at the outset, ngainst 72Vsc nt the end yesterday and later sold at 72V4c Oats opened firmer. Trnde was small. Commission houses nnd cash concerns were the best purchasers. December opened Vic higher nt 40Vic. May .was tpioted at 48Vc to 48c, compared with 4SVic nt the end yes terday, and Inter sold at 48c. July opened ' higher nt 48Vic, and Inter sold at 48. TRADE CRISIS IN BRAZIL Government Asked to Take Steps to Improve Exchange Mo Jiuirlro, Pi-c. 18. Directors of tho Commerclnl Asroclntlon received today by the minister of finance, nslud tluit the goernment take steps to relievo the crisis thrcntenlnfc nil trade here ns n result of unfavorable exchange condl tlors. They urged the necessity of ap plying practical and Immediate remedies Among tho suggestion!) made were the suspension of customs duties, expediting paymentH of government debts to com mercial iajnt:oriiH, especially mo lira-silllan-Lloyd Steamshlji To, and the pro motion, through the llank of Drar.ll tif an accord conceding general extensions of bills of exchange. The minister In dicated he would respond to the appeal after conferring with President I'esso.i Itollar exchango Improved here to day, being quoted on sight at the equiv alent of from $1 30 to J1.30. Iluennn Aires, Dec. 18. Establishment of nn organization to guarantee ex- "hnngc operations nnd maintain tho value of the Argentine peso will be con sidered at n meeting called today by tho president of the Chamber of Commerce. Thepropnseil organization would have a capital of 4,000,000 pesos. MONEY-LENDING RATES l'llll,.l)l'.I.rill. Call. C per cent; time, 0 per cent; commercial paper, three to six months, C per cent. (Xote These are merely nomlnnl quotations, ns the legal rate of Interest In the state of Pennsylvania Is fixed' nt fi per cent Plus premiums and commis sions, time money for thirty to ninety days Is loaned at 8 to 8 Vi per cent, bile commercial pai-r, from three to sK months, is being offered nt 8 to 8y per cent.) LONDON Money In quoted at Hi per cent discount rntes, short and three months bills, Gi per cent, LIVESTOCK QUOTATIONS flilriiKo. Dee. 18 IIOGH Kutlmiitcl re. rplptf. soon head; left oter. 10.3R7 y,i,i Very little lililillnu hduiiiI J0.M for bent llitht hot'. Few snles about like Mrrdny-a clou', to J.I im Id. CATTI.K Kallmntcil retelrts, 1000 head. SIIIIKI" Kstlmnteil rereliun, 100O head. I'lttklmrirh, I'n,. Dec. IS. HOOS Re- elpts, 40OI) head Loner. Henvlea. 10 sn fciLriS, heavy nrsl light orlu'ra and Blca. J10 liifriii.SS. SHKI'.I' AND I.AMIIM Hecelpta, moo heail. Steady. Top nhceii, rt, toji Iambi, CAllvnS Itecelpta. Bo head. Lowor. Top, 1H.&0. Steel Averages Unchanged Figures compiled by the Iron Ago show that the average price of eight representative steel products, Is un changed ns compared with a week ago. the level remaining $3 u ton nbovo that nf the t'nlted States Steel Corporation. The average this week was $00.19, ns compared with the Steel Corporation average of $f.3 1'J. Tim Independent manufacturers continue to quote billets, mils and pig Iron Kiinewhnt above the Steel Corporation prices. That thero was no change In the average price does not Indicate that Independent steel prices remained llrm. Ah n mntter of fact thero were reductions In certain lines, but they did not happen to be In tho list of those which go to make up tho averages. As compared with the Independent average of $08 40 this weik, tho averago on August 3 wag $85.03, or nearly $20 u ton higher. Refuse Permission to Build Railroad WitililiiKt.in, Dec 18 -The Michigan Northern llaiiroad to, was denied per mission today by the Interstate Com merce Commission to construct a rall rond In Ingham. Eaton. Clinton, Gra tolt. Isabella and Midland counties, Michigan The commission said that the road has not shown that tho public would Ik) benefited by the line. Central Coal and Coke Pays Extra The Central Coal und Coke Co. ban declnnd n regular quarterly dividend of $1 25 on the preferred stock and 75 cents txtra, nnd $1.50 regular on the common and $1.00 extra, all payable January 16 to stock of record Decem ber 31. Oil Co. Pays Stock Dividend IIiiIIbb. Tex., Dec. 18 The trustees fthe Mngnoila Petroleum Co., at a mietlng here today, ordered paid, on December I!8. the $00,000,000 authorized capital stock Increase, heretofore unls sui d, to the stockholders of the company as a 100 it cent stock dividend, Now Yortt. nt. 18,-The Kvfn, Sun, In its weekly financial review to. dny, says : The arrival of a small corporation t the bankruptcy court, tho failure of on moderntcslzed stock exchnnge houw the passing of several dividends nnd tlie deferment of still more, tho an. nouncement of wage reductions variably effective between now nnd tho mlddls of Jnnuory, nnd tho difficulties which some business men nnd Individuals of wealth encountered ln raisins fund with which to ,,ay tho last Ins.aCnt of mm federal taxes, were Incident of a week replete with dlsquletlnj 3m1"" l Inrr!!Rtrl8' ""'I commercial iinacttlemrnt. They were Incidents o a character calculated directly to In flucncc sentiment of tho general public In and out of Wall Street and, ac cordlnjrly, tn impair buylnjr power Th. professional operators nn the btnr sl,l tnge of this situation by the technical position within the securities mark? Involving a largo though possibly ow. estimated short Interest. There tin, thus created n state of affairs which hindered o constructive movement of Importance and limited the scope 0 raids on vnlues faulting n cl,riaiiej transac Ions and relative stability. In this condition of things the finan. clnl community was somewhat nt a lei, sat sfnctorlly to annlyze both the nr" 'en nnd the immediate future. Opinion seemed to favor the view that llierair" kfta wore likely to stagnate fnr scver.l months Into the new year The prixn was deemed to point to more buslnwl caNunltle, In the first three month, ' 1I)J1 than to fewer, since there U y, to come the readjustment of price, 0n the part of the retailer in conformity with the concession nlready granted hr the maniifacturcr nnd the wholesaler. The holiday trade so confidently relicl upon tn aid the merchant In disposlnz of high-priced inventories hns not wholly met expectations in that re spect. For months the consumer has hnd before him the spectacle nf declin ing prices without the opportunity of coining In contnet with them. Ills re luctance to buy extensively hns not therefore, been overcome. The stores In deed have their crowds of potential buy. ers who. apparently, arc content to confine their attention to the lighter nrticles nf Christmas suggestion. The buying of articles nf utility bids fnlr to be postponed until It shall be ma what the new year will bring in tfae way of concessions; in other ttnrd, there are scatvf Indications thnt the con sumers' strike hns been tnnterlallj aim ted. There was heavy selling of stncVs it the beginning of the week, iieciisinnnl by the desire to cstnbl!h loes against the Income tn for lllliO nnd by the ne cessity to pet in funds for pniment of the finnl Installment for 1(110. Thnt the latter motive was n very vital one nm established by the inability of innoy to meet the payment on time. This ex traordinary sittintinn served to empha size the highly unscientific qunllti"s of the existing federal tax laws. It itill no doubt do much to crystallize eentlment on the subject nnd perhaps pale the way for revision when the new Re publican Congress convenes after March 1. This is one nf the hopes on which those who ore guided by the longer out look rather than by Hie present Mirfnre manifestations pin their faith in ulti mate solution of the country's economic problems. The pincess of dellntlnn hm been pretty thorough, more thorough, in truth, than mnnj believe to have been for the good of mercantile nnd indus trial and agricultural interests, A conviction frequently given expression was that present abnormal conditions will not permit of ton drastic deflation lest undeserved hardship be visited upon those interests directly nnd oil the peo ple directly or indirectly, ns the cue may be. Whether It were better to suffer the rxtnme hardships nniv and establish a basis for starting nil over ngnln or to ease the readjustment nnd protract the period of reconstruction tins n nice question iihlch found dls putants on both sides. LEE, IIIGGINSON & CO. IMulilUliril 1SIH 1IOSTON NKW YOHK CMir'AClO 1300 Finance HiiIldlnR, Pliiln. Prices Irrerjular on Paris Bourse I Turin, Ilec is Prices were Irregular nn the Hours., tod ly. Three per eni rentes, 56fr 10c; exchange mi Jmd.in, 58,'r 71c; 5 per cent loan, 85fr 20a The , dollar wan quoted at Ufr 73 Vic i Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS lfi.VI ItllAI, KSTA1I". TIU'HT 111,1)0. Intt''li:utr untl niljimt liirtnernlilp mni rriMinitlnn srronnta. Alun prepare V, M. nromn Tni Return!, The Market Outlook Conditions now prevailing In tb stock and securities market ars analyzed in the latest iue of tht Investor's Review. Detailed information ii alio givsa on some leading stock iitucl namely Utah Copper Atchison R. R. Texas Co. Chandler Motor Allis-Chalmera Am. Steel Foundries A number of other Important stocks are frankly dicuiied, showinl price changes. Jitle for a frte eotv BOUREAU & EVANS Uemltrt PMladelpMn flfoek ErfJiasff 130 South 15th St. Philadelphia West Phila. Oflicc, 7 S. 52d Street Lomit Sill B" "" GRAIN PROVISIONS COTTON Our Colli Letter Bent on Tlsauwl Hughes & Dier 1 Clilrsso Dosra ni iToe J N. V. Produce Kichssl' 1 I'hlU. fitork Kxehnr 1435 Walnut Stret Philadelphia Mrmbtn art Hprure HI3 IImi 1) J, M. HAILElt O. 8. PAW0K Sailer & Stevenson sn and rrrKSTNnT bts. BONDS .,, Tax Free, Yielding Vi'oJSJJL Northern Central Rwy. Co. CHARLES FEARON & c' 333 Chestnut Street Safe Bonds fir Investment HALSEY, STUART &. CO. Inc. ft - - - v ' r .'-'frMfflHMBWvKliMIBMHBL'H.MMlir'' .'.. .. . --rf- : r. 'i.m-.. .. j i-dui. ....ita.,,.....y-,-H ' agjM Jmmmmmm
Significant historical Pennsylvania newspapers