K-fV E' H a; 'if !'. I'M h i- 4 J 1v ,,. hi V n V il" EVfcNINCt PUBLIC LBDfrEBPHiLADBM'HlA,- WBDyES'DA; P&iBMBEB- ., . .io20 Ts-'HW W-hwjVJ"'! K-hnw " - - aaTT " WaMIMM aaaaaaaaMaSaaaaa4aMa aaawaaaaaaa K n -ft BAIIS CARRIED UP 1 NEW YORK STOCK EXCHANGE TRANSACTIONS ' m.i. ,,.. 1:30 n Low L.aat Chr. SiUra Adntni ExDreaa 3. Attractive issues offer ing attractive yields dominate our January Purchase Sheet. For first of the investment thN year lut should prove of value. Wilt l) itulle.l when Is-nn- 1 i!r"r rniuost for rn-aco TheNationalGty Company Plilldalphl--I21 Chaatnut 31. Atlantic Cliy-Chaltonta Block 1273 Boardwalk :m v Combining Security Yearly Maturities High Yield As a well-secured short time investment, we rec ommend the Five-year Serial 8 Gold Notes of a well-known New Eng land manufacturing com pany. These notes arc: 1. Secured by net quick assets of 2 Mi times, and net tangible assets of 5 times, the amount of those notes. 2. Followed by capital "J' stock havint; a current r4 market value over 6 times .this issue of notes. Prices for various maturi ties to net from 9.08 to 9.42 Ask for descriptive folder P. P. L. 330 Hollistcr, White & Co. Tnmrooratrt North Amirlrnn Ilnlldlns PHILADELPHIA Hn.l nn Providence Nrw York Kiirlnitllrld PlltaflrlJ Portland A . Buyers' Market h- Shrewd buying of the many Invectroent bargains now obtainable is rapidly in creasing. Buyers are showing a de cided liking for the partial payment plan where the foil purchase price is not obtainable. Any listed bond or stock may be purchased on a small first payment. Let us send you a copy of our latest market analysit and booklet Thrift -Saving Investment, explain iijc the partial payment plan in detail. Write DnpC. PL-33 Charles RCmRKSDNfill 66 Broadway. - New York. & HE ENTIRE LIST Short Covering and Repur chases by Tax Dodgors Kept Market Livoly New York, Dec. 20. The line of cleawiRo tin1 railroad and the Indus frlnN was tnorp definitely drown In toriar'fi tork market than at any time vlnce la-it Aupi-t when the propaganda for revivlnc Interest In the railroad horpN ffm ItiatiRtiratnl. Not only wn-i the line of demarcation tightly drawn, but the -"treniftli of the rails was of xuflMeiit inflm-m-e to carry the whole llt up with them thereby turnlns nn c.-irlv reactionary tide Into a strong tipwurd iMtrrcnt Conditions within the market Itself rather than nn rhnnse In the economic situation or oiit'lilo events wn reapon slb'e for the reversal of the temper of uprntlatinn. There wormed to be a com bination of lNral sliort covering anil rebnylnx by snine who recently old for the purpose of eitablNliins profits, nnd who apparently, entertlnetl crave fearn of the market getting beyond tlifir renen. and therefore were too timid to defer these repmrnses until after the new j ear which action seems to have very !;eiierully advised by the legal fra ternity. The covering of short" which was quite extensive In turn was influenced partly by the overcrowding of the bear ranks, and partly In the absence of re newed selling pressure and Inn'nllltv to force a general selling movement after the irregular opening. As the demand soon overtook the supply the upward movement gained considerable momen tum, espis'liil!) when the short cover ing became more urgent as prices ounted to the higher levels. It was dUtlnrtl a rail market, as ac tivity and luterest converged In that di vision of the market and the buoyancy of the group ns n whole wns entirely icspousiblc for the spirited rebounds made by the equipments and also the steel shares. New low records were mode by two lending Issues In the initial stages. At 'nntic (iiilf fell 4Vi points, to 851, and Crucible Steel declined 1M.-. to 'Oh Cnltcd Fruit, Mexican Petroleum, lien ernl Kleetrle, Consolidated Textile, (ireat Northern ami New Haven com prises the other hcavj shares. European oils were again strong, however, Itojal Dutch rising ! on the announcement of 1 per cent Interim dividend, and Shell Transport 1 point. The market reversed its course within the first hour, responding generally to an active demand for the better type of rails. Southern Pacific rov 12'-j points. Northern Pacific. Heading and Iehlgh Valley, '2 each, and Atchison. St. I'util preferred, ''Soo." Norfolk and West ern. New York Central, Baltimore and Ohio and Southern Halhva.x, I to I'd. Crucible rallied 4 points, Atlantic (iulf, 12. and Mexican oils trained 1 to 2 noints. Decided strength was shown by eiuinments. especially American and Baldwin Locomotives. Wells Fargo rose .'l points, American Express, IJVj. and food nnd motor specialties were materially bene- LOCAL MARKET HAD MUCH BETTER TONE Turther Heavy Selling in Spots, but Offerings Were Readily Absorbed Stir. 590 10) toft 00 1700 400 400 310 419 ?!( .V 439 too tOtt 300 ZOO 70o 100 ivo too ftflO 100 30 too Mi) 3210 .100 18)0 50 toft 300 3J0 8t)0 too 100 100 300 300 100 3300 luO 400 3 Mt) too 100 S.S13 100 3,10 310(1 too 3310 100 300 300 too 311 ISO 109 mo 400 103 310 1(110 500 am 800 400 331V ton 3100 100 510 4410 1410 300 1310 310 5000 SK'iQ 100 3710 ,100 fiOl 310 3610 lSO too .mo 1101 too 1JS10 3510 100 100 4710 1400 3000 500 3030 Ve Have for Sale Rochester Ry. & L.51 , Pfd StI: Spicer Mfg. Corp 8 Pfd Stk KnoxvilleRy.&L. Ref Ss 1946 Scranton Elec. Co 8s 1931 General Asphalt Conv.8 1931 He Wish to Buyi .'Tenn. Power . Ss 1902 Syracuse Gas 5s 1946 Jiprthera Ind. G. & E. 5s 1929 Scranton Elec. Co. 1st 5s 1937 si Reed A. Morgan & Co. W" . i.l 7 . II. VMla MrmL' f ' I' - x-W Kjrh Whether it was purely in sympathy or not with the recovery movment in the big market, the tone of today's local market waj decidedly bitter. Price movement was again mixed, but alto gether the level of values was better sustained. The market, in all event-, exhibited much better absorption pov - era. for there was evident" stiM furt'i,.; I Belling for establishing of tax looses. I This, at least, un-. suggi-sted In the continued unusually large dialings in such stocks ns I'nlted (ins Improvement. , Pennsylvania Huilroad and Philadelphia Itapld Transit. Of the thre- Rapid Transit was the only weak spot, de clining to l.'J'-j. Penusjlvunm Railroad, with the other railroads was exceptionally strong. The rise in Lehigh Valley coming In for more attention because of the wide dis fiibution of the bullish tip on that fork. Almost cver lioii-e mi the street , Vfore he opening was tipped off and ; nearly every tipster known and tin 1 nown had the nme dope. This as I "crtlon does not mean to belittle the movement, but it was nevertheless , curious that so mun big minds should run In the same channel 1 Dealings In tin- other local stock were somewhat limited The conti ac tion. howeV'-e, was more than offset bv th continued widening den.ings in the socnllcd New York stocks, which alto gether imparted a broadening aspect to the market operations. Substantial f 'actional cams were -cored by Amer ican S'o-c-. KliTtric Storage Battery. Lehigh Navigation nnd Philadelphia Traction "n tiie otlier hand, tin-re wn sllght sliadin' of Philadelphia Llcctno ommon Wist Jersey and Seashore Alliance Insurance, Amciicnu (ins. American Railways preferred. Lake Superior and Pennsylvania Suit. Philadelphia Stocks ." Alii Insur 1 Sun Company 6s, 1029 Cerro de Pasco Copper 8s, 1930 Lukens Steel 8s, 19-40 Senbonrd Air Line 6s. 1945 U. S. Public Service 6s. 192 7 Lehigh Valley 6s. 1928 irni is lh iii. t,- Hi k Uichanea IxMDot aim Land Title Bldg. Kjr M .Veto J'n K Tf 1 ,,n tni , j '('1 Am Id Am !as . ;tt) Am I. .s pr. : . KKITAm Pipy. 2112 dec Stor HDD Lake Sup lfi I-h Nav. 221! Leu Val.. 2(K)tNev Cons 1-1(10 Pa R it 111 Pa Sn't '.'ihi Phila Co l!l do -'in pf 72 Phi a H ec 11.". do iin-f . 'Toil I'll. la RT Pi." I'liihiTrai 2iM''Ra on- .iIitic. a in.:. HK) Tono Hel. UK) Ti.no Min 27.-.0 r a 1. !l do pref 'Si W .IerS 1 VorkRwi pref .St rh.infi- m ..J 1 m Nuv V rk Hit;)! II 2.S-S 1.-. HS-'i', 7 .' r.s s. :',:ii . it " rpji-. .in " 27 i::-', .".l ni, 'if. 21!', .".(I 1!) 4l'i ' 1." I1. 7'j 7i ni'd HI :i2' . ;i(i " 2P', 211S Ri's l!i' , IPs If; 21! ' . r.o " H'iii 1 11 Nt l m chgs II) I. H-'i-f '21 j 7:- .;i Li - 'i sm, 15 or, U, ri--ri-'5 8;-u !, Vs (H V, :!2,.. : . . 21 'i.. 27 - VI Via,, f -0 U, 11', i, 's.'I'N-rL' 1A A P r"f 'iiai . . Advance Rumely A Adviuicn ItUmely pf. , 4 AJnx Rubber . . A In slm Oold Mints. , . .. Atnsk.-i Juneau O M.. .. Allied Cherti Dyo.. . 4 Allls-Chatmers Am Agrlc Chcm 8 Am Ueet Sugar 10 Am Dnsclt Mofntto,.. .. Am Cnn 7 Am Can pf is Am Car ft Pdy 4'j A 'b 43fa 3SVi mi 33 17 118( Am Cotton Oil 1014 so Am Dru Byn H 8 Am Kxpress 123 .. Am Hide & Leathor.. 6Ji 7 Am Hide A leather pf 38J4 4 Am Ice 39 0 Am Ice pf 84 .. Am Internal Corp.... 33 t Am-La France Enc. Ji 3 Am Linseed 4S' 7 Am Linseed pf. ...... 81 8 Am Iocomotlvo 78 .. Am Safety Raior. ... 7 ..Am Ship & Com 8 4 Am Smelt A Rof 31 7 Am Smelt Ref pf. . r& 8 Am Steel Foundries.. 1SJ5 7 Am Sugar Ref 89 10 Am Sumatrn Tob.... 70)4 8 Am Tel A Tel 84t4 13 Am Tobacco 188T 13 Am Tobacco ll 107 8 Am Tobacco pf new.. B8H 7 Am Woolen 86M .. Am Writing Paper pf ItH .. Am Zlna Lend A Smlt 4 Anaconda Copper .... 31 4 Ab3o Dry Goods Vt 0 Asso Dry floods 1st r Si 8 Atch Top & Snntn Ke 80T4 0 Atch Top A S V pf. . . 784 . . Atlnnta Blr A Atlantic Wi 10 Atl rtulf & w I S S . . r 5 All Oulf & W I S S pf 4H .. Austin N'lcholae SJ4 7 TJsldwIn Locomotive . 85 7 Baldwin Loco nf 03 .. Baltimore A Ohio.... 34T4 4 Baltimore A Ohio nf . . 4754 . . Bethlehem Motors . . . 3V 8 Bethlehem Steel 8 pflOO 0 Bethlehem Steel B.... fi.T-4 .. Booth F'sherlcs 3H .. Brklyn Rapid Tronslt 1)15 .. Brown Shoo 35 . . Bruns T -rm fi 10 Burns Bri-s js'fj .. Butto Copper A 7.lno 3?5 .. Butte A Superior Cop 84 .. Caddo Centrnl OAR llfj a California Pncklnie .. Wi .. Cnllfnrnfa Petroleum. 2S 3 Cal Zinc A Lead.. . 4'4 4 Calumet & Arlxona... 40 10 Canadian Panlflo ,...UVa 7 Case J I In pf 73S .. Central Leather 31 'j 7 Central Leather pf . . . fVi 4 Cerro de Pasco Cop.. 34 TS 10 Chandler Motom f3H 4 Chesapeake A Ohio. . l .. Chi A E 111 pf effs... 3Vt .. Chlcano A Ct West pf 18 .. Chaclgo Mil ASt P... 38H .. Chicago Mil A St P Pf 1V4 Chicago Northwestern f4 Chi A Northwestern pf 100 Chi Pneumatic Tool.. K7V Chi R T A Pnc 36 Chi R I A Pac 6T, pf 80 Chi R I A Tac 7 pf im Chile Copper 9!4 .SO Chlno Copper 17 J5 B Clev Cln Chi A St L pf 0 . Coca-Cola 30 3 Co'o-n.ln F"ul a Iron 2(t4 . . Colorado A Southern. 30 fl Coluinb Oas A Elec. 1 Col Graphophonc ... 7 Col Grnphophone pf . . 7 Consolidated Cigar . 7 Consolidated Gas .... 8 Consolidated Textiles. 7 Contlnent.il Can 1 Continental Candy ... 4 Com Products lief. . . 1010 3.80 Cosden & Co. . O'OO 100 1 no 3SM S)1 3J0 1410 910 no ltflO 1310 411) 4310 810 200 1710 too 10.) lot 31.1 410 ion ltoo 110 713 soo .00 Ml) 300 COO 00 1208 3110 3000 310 100 300 10() 27J0 1100 lino 100 1200 400 300 100 1310 400 3100 4700 2000 100 200 300 400 3300 310 400 100 100 1700 VflO MOO S00 1 0'. 100 310 :io s 1301 Crucible Sicel . .. Crucible Steel pf. Cuban Amer Sugar. Cuban Cane Sugar 88 Ti 37 33 7S'4 10& 83 3 OC't, Ws 74 83 "i 38 1SJ.J Cuban Cnne Sucar pf 28 Penver A Rio Grande Denver A Rio Gr pf.. Dome Mines EMc Horn Coal Emers on-Brantlng . . . Endlcott-Johnson . . . . Endlcott-Johnson pf.. Erie Eric 1st pf Erie 2d pf Famous Players L . Famous Players pf . . . Fisher Body Flsk Ilubb.;r Fr-ipm Texas . Gnston Wm A Wig. Gen Am Tank Car. . General Asphalt Gen Chem c of d General Cigar General Klrctr'c General Electric rts.. General Motira Gen Motors deb T't Q Goodr'eh B F. K 9J 17 48i MVi 13 U 1BH 13K 48 73 80 !i toy, 12M 2J4 SO ss 117 32 1IH 3 13M 7e'j 33 H IBM 74 H Goodrich B F pf . . . . . Granby Consol M A M 7 Great Northern pf . . . 4 Great North Ore ctf ?i 3 Guantnnano Sur Co.. lt?J . . Gulf Mobile A Nor pf 34! . . Oulf S'ate Stws! 3fi . . Hendec ctfs II . Houston Oil C3J5 1 Hupp Motor Car 0S Ill'mils r-pptral "JJl Indian Rellnlnr Pf- 82 4 Insp'ratlon Con Ct.p. . 2s',!i .. lnterb Con Corp .... 3J1 .. In-.erh Con Corp pf . . . SV, 3 Int Agrlcul Corp pf . . 44'j 7 In'l Harvester new... 93 Ir'er Mer Marine ... 11 fl In' Mrr Marine pf. . . 40 . . Internal Motortruck . S3 .. International Nickel . t"!a . International Paper . 2Vj 0 lr.ted Paper pf stprt.. 70 Invlnc'blA Oil Corp... V'H Iron products 37 !5 .. Is'ind oil 4 3 ."nni b Dros Ten la'J . Kan City Southern., ls'i 4 Kansas Dty Po nf . . I.14 Kan C Ft S & M 3S 4 Keiiy-sjpringneid Tire '3T5 K IC-'ly-Spg T S" pf. . SO 3 Kenneeott Copper ... 1.1'J JO Keys-ono TAR 7 '4 1 Lackawanna S"el . 40 . . Lake Trie A West pf 27 3 Lee Hubh. r Tiro .. . lf.'s 30 Lehigh Valley 34 H 3 Ixiewe Co 13 Low 33 14 f, 24)4 l Tl 43H 28'! tm 38 48 22 H 78 H 11M I8 W 123 on 38 Y, 39 34 31W 8'l I4M St 7Si M s 30H 0 2SK S89J 70 J4 94 H I0RH 107 seH 30 215 W 30 V5 20H ss 80 7S4 sis sa ic,'4 MJJ C3 32 V.i 2 100 5314 nVS 35 434 78 r n'4 B 11 ssHi 24 A 40 M3? 73H atM 2M 81 B7K 3H 17 23 H 30 r-234 100 roJ5 2 9H r.H s;4 17 00 19 2.1 20 37 H 37 53 7 )K 31 H 3J4 fSM 20 7Vi 82 J 27 17'i 7)' H 1 A low ay2 R4H 12 a 19 13'i 44J4 72 h0J4 10-4 12 24 50 36 H 117 52 117 3 13H 70 "i T.V't tVA 13TS 72 H 'ilii DM 21 i 25 11 01 10',, MK 82 2S 3S 9'i 44 Ji Si in:; 33 12 2W 70 iiH 27!S H 13 18VJ 3S 5H 80 trt'i 4ht4 20 lfi :ay3 13 liSO Net Last Chr". as m KJ6 H 43K 2H-H- tali- 3814 54V4 4- 54 38J4 1 48 -2J H- 123 38J4 39 . 48 81 - 78H 1 Y 14 1 1 14 ' 7 R st'4 6BM 28J5 , 80 70 W- M14 , 108 ?4 -107 88H- 30 29H V4- 30JS- 20M 55 14 80J4 1 70H B!5 8 S3 03 :i4Ts3)H 17'4 .. 3 . ion 33 "4- ''4 314- 0J4 33 - 4 lT5 79 11f,-p 5S1J 25 41,4 40 -1l4ti 72S r3'i 83", 24J- 63 J- 5RH 3';- J8 82 4. 26 no jiJ- 9'4 I7'5 CO -20 25 -30 58 '8J4 . 5; -53 75 isr;-.-3 34- 6H 27' 72!4 18J4 f8 H 1H 914- 7 554- 48 S4 13 I9H 13 M 40 54 72 hOJ4-10J4- 12W-T 254 50 38 -J-117 - 52 - 117 - 3'4- I3n 70'j- 33 H 54 354 1H 3 1 54 54 !4 54 1H H 14 m H 54 H iM 7 '4 1 3'.' 1H 4 2'-0 . t!4 Sates 200 100 100 800 20ft 140 100 209 too 300 100 2100 ,00 10090 1109 3100 2500 400 709 1300 400 5100 1300 300 1400 101 200 SOO 300 400 200 1000 1010 1090 290 ,100 1400 1310 310 1013 4090 190 7300 109 13.10 310 130)0 109 3010 100 400 8il'1 1900 200 500 100 600 3900 7500 800 ..00 0510 600 10j0 2000 700 803 1000 1010 2,1ft 4000 2010 400 500 1003 3000 5090 100 HUh .. Loft Corp H 13 Lorlllard Tob 13 7 Lorlllnrd Tob pf 7H 7 Louisville A Nashville. 97 .. Malllneon A Co 9 7 Mnlllaon A Co pf K 10 Manatl SitKar 65 7 Manhnttan Kiev guar, 4354 1.73 Manhattan Shirt . ... 15'4 2 Mnrlln Rockwell "54 2 -Marlln-Parry 14 .. Max Mot 2d pf ctfs.. IK 8 May IX-Pt Stores 80 12 Mcxlcap Petroleum... 18754 2 Miami Copper 1.00 Middle Statea Corp. 4 Mldvaln Steel A Ord. . . Minn & St L now . . 7 Minn St P A St S M. .. Mo ICnni-an A Texas. . . Mo Kansas A Texan pf .. Missouri facino . . Missouri Pacific pf . . 3 Montana Power . . MontB-omerv Ward . 4 Mulllns Body 20 8 Mulllns Body pf .... 8554 S.C0 National Acmo ... . . Nat An Ch ctfs . . . . 7 National Biscuit . . 7 National Biscuit pf 7 Nat Cloak ft Suit pf . . Nat Con A Cable, . . . 0 Nat Enamel A Stamp. 15 13 r.8 U54 0754 2K 454 ir 37 tt 49 17 3054 . 5y, 08 100 5 j oo n 3J4 45U Natlonnl Lead 00 7 National Lend pf....l00 . . Nat R R of Mex 2d pf 5 .. Ncv Con Copper 8K 8 N O Tex A Mex (18 10 New York Air Brake. 70 S Now York Central... 7lK . . New York C A St L. . 83 .. New York N II & H.. 17 .. Norfolk A Southern.. 10 7 Norfolk A Weatem... T8J4 0 North American 49K 7 Northern Pacific .... StJ fl Nova Scotia SAC. 30 40 Okln Prod A Ref.... 3)4 .. Ontario Silver Mining 4 Orpheum Circuit .... 24 .. Otis Steel 1354 . Otis Steel pf J2 3 Owens Hot Mach .... 44 H .. Pacific Devel Corp... 11 0 Pacific Oas A Elec .. 47 1 Pacific Mall 13 .. Pacific Oil wl 4154 0 I'an-Amer Petrol 74 Pan-Amer B C8 Parish ft BlnKhntn .. 1254 Pennsylvania R R ... 39H . Penn Senbonrd Steel. 7 . Peoples Gas Chicago.. 3354 . Pere Mnrnuetto 18 3 Phllade'phla Co 3354 . Phillips Pet 28 . Plercu-Arrow Motor . 1754 . I'lcrco Oil 10 8 Pierce Oil pf 7354 S Pitta Coal 6654 . Pittsburgh A W Va.. V-Va 1 Pond Creek Coal 1254 8 Pressed Steel Car. ... 77 8 Pullman 103 8 Punta Alcgro Sugar. . 45 4 Pure Oil 8 Railway Steel Sprlnir 600 l.ss Rand Mln Am Sharoa. 54 54 1 154 H ?4 54 1 H 54 54 1 1 H Vt 154 54 J4 54 54 1H 1 V4 54 7t'j4- ir.H 7W 25 H 4. IIM 24'4 25 11 -IS'i-i 10A "5M-f 82 2S -3?! 4471 02 10 Vi lli J. .'3 -t. 13 -7'5- 70 2114. 27'i 1854 43 -58 '3JJ-T-S0 1554 isj-i 20 -1 Jl f 35S 15 54 u 154 '' . 1 1 'M 2-y, a 1541 1 '4 ia "4 54 2i !4 "W 54 54 54 54 54 2H 5 1400 20 300 400 900 1O00 800 3090 2i)0 9500 C 3300 290 13 iO 1009 100 600 10D0 400 81)0 2J0 100 237 to 700 1810 309 1931)0 31100 100 0.710 250 400 100 100 5103 2310 59 u 103 1:00 13800 3090 3100 300 600 30ft 1200 100 200 100 5500 1730 3890 1010 2000 100 .'2K 70 2154 1155 13 68 1 Ray Con Copper 4 Heading- 2 Readlns 1st Pf .. 2 Heading 2d pf .. .. tteminicton xypewntr 2jjj . . Rcplo Steel 32 n Republic Iron A Steel .'0 7 Republic Iron A Stl pf 85 .20 Royal Dutch Amer... 06 .. St Louis San Fran.. 22 . . St Louis San Fran pf 31 .. St Louis Southwest . 2C . . St Louis Southwest pf 36 1 St Joseph Lead 11 H 1 Santa Cecelia Sugar . 6 .. Saxon Motor 2H . . Seaboard Air Lino . . 0 b'eara-Koebuck 94 H 8 7 Sears-Roebuck nf . . Seneca Cop Corp . . . .. Sinclair Oil . . Shnttuck Arizona corp 74 Shell Transport 0 Sloss-Sheff fl Southern Pacific .... . . Southern Pacific rts . 13 South Porto Rico Suf. . . Southern Rail 7 Stand OH of N J pf..l0H S Standard Oil N J new 153 I Stewart Wnrner Sp. . 3554 -.' Shomben; Carb 37 !4 7 Studebakcr . . Submar Boat Corp . . 3 superior Oil Corp . . . 1 Tenitor Corn A F "A" . . Tcnn Cop A Chem . . . 3 Texas Co . . Texas A Paclrtc 1 Texas A Puc C A O.. . . Tidewater Oil rtn 3J4. Times Square Supply. .. Third Avenuo 0 Tobacco Products . . 7 Tobacco Products pf . . . Tol St L West ctfs . . a Tranpue A Wrna Sttel 38 .. Transcontinental Oil . U?l . . Union OH 20 10 Union Pnclflo 11714 4 Union Pacific pf 354 1 Ut.ited Alloy Steel ... 3siu; 8 United DurK 92 00 16 22 4 3, 43 H 4514 SBT4 20 7 22 Ji 41ft 54 1254 23 V4 hH 42W 18 2754 11 92 1274 49 81 0 100 3.50 United Drug 1st pf... 4i?4 1 X 1400 100 6000 13ft 400 231ft IIOUO 8701 313 1800 31000 400 200 1000 30ft T2S0 7210 310 20 ft 210O 10ft 100 300 21ft 100 100 000 00ft 20ft 2 ton 10ft 10510 100 313 200 100 100 13 United Fruit Ib7 . . United Rwy Invest.. 0s; 3 United Retail Stores.. 50 U S C I P A Fdy 10 Ji JUSfllPs Fdy pf.. 39 0 U S Food Products.. 16J4 8 U 8 Ind Alcohol .... r.l s U S Rubber 68 8 U S Rubber 1st pf... 0054 10 U S Smelt A Ref .... 3054 3 U S SU el 78 34 7 U S Steel pf 104J4 fl Utah Copper 453 . Utah Sec 4 Vtt-CnroPna Chem . . . 8 Va-Car Chcm Pf ... 0 Vanadium Corp 1 Vlvadon Ino . . Wnbash . . Wabash pfd A . Weber A Hellhroner. . . Wells Farso Express . West Maryland 2d pt 1754 Wei-tern Pacific ... 25 . . Western Maryland . . 10 7 Wentlnrhouse A Brake 92 4 Westlnghouse E A 31. 40J4 Wheeling A L B 4 Whlto Motor . . White,- Oil Corp . Wilson A Co Willys-Overland Willys ONerland Woolworth nf . WorthiiiKton Pump Worth Pump pf A. . worth rump pf b. Pf ru-dlvldtnd. 8 54 3154 93?; :2H 0J4 Hi 20 S f3 0 33 54 14JS 3 J4 5?i 254 103 40 J4 73 6655 Law 9M 171 07H 07 9 45 OS 4354 10 14 Ji 14 1 66 162t4 1454 MK 29 J4 1154 0654 2H 1 16 aoji 49 1654 20 85 S6J4 43 96 105 6054 2 54 45K S0H 100 4 8H 8154 60K 7054 53 10 10 97 54 4954 70J4 30 n 4 4-4 I3J4 73 44K 10 K 7 1354 31 71 0554 12 39 6M 3354 10H 3254 3754 1 954 73 65 28J4" 12 .5 102 43K 31 J4 79 20 K 11 62 5254 67 26 31 8 85 C4H 20 3954 24 a 35 11K C 254 5K 0254 99 10 21 4 5'4 4154 45 0051 34 '.9 21 K 104 K 162 2354 2754 41 8 12 2354 ( 41H 10 2554 13 Ji 8J4 Wo 48 81 8 54 38 0 19 X 110 G3 2s 13K UK 190 9K 4854 10 Ji 30 13 C0JJ 65K 00 29 K 77 104 J4 45K 854 31 '4 93 H 31 BT4 7H 1954 8 63 1754 25 10 112 4054 9 3354 14 54 3054 3 54 2 54 103 40 !4 73 55J4 CURB SHARES MOVE fiH- 54 171 I- 154 97H- 54 97 - M 0 - K 45 - 2 OS 1 4S54 ... 10 154 Yt 14 54 154- H 66 15754 . 1454- H 13-54 30 1U4 i 6754 154 3 .-K 454 I- 16H 37K U 49 17 !4 20 - 5'4 8554 3C54 455'4 50 - 1 19654- 54 60H- 3K 354 4SK . . 66W- h 100 54 5'4 4H- Se 8 4 58 154 70 i 71M 154 53 17 54 10 t'8 1 49K 81K Vi 39 3 4- 11 'A 54 IM4 54 13 I- 2 44i- 54 11 - 47 13M l. 41 154 7354 I- H 1,8 3' 13 - J4 39 04 .. S3 '4 K 10M 1 3.VS 1 791 I7!4 H 0K 54 7354 94 30 - Ji 3S?i K 1354 - Vi 77 -I 254 1C3 1 481 32 79 154 2154 11 - 54 8IK 354 633 57 JJ 1 2354 54 31 M H 9, 85 1 65 3J4 22 3 31 54 26 IK 36 K 11)4- K 3 54 2M- K 0 B4K 2H 99 K 10 - 3154 H 4H- 54 4154 1 45K 1 90H 3 23H IK 796 22K 154 10454 1 163 1 23 54 27J4 54 41J4 54 8 - 12 . . 2354 Ui oH .. 42K I 1754 311 J4 lGTi 1)54 K 12 Ji - 49 K Hi K 9-1 38 H 6K V 20-54 11754 K C3 - 54 28 - 54 02 K- 41K .. 190 8 9K .. 40K 154 10J4 54 30 10 Ji 1254 154 8754 1 9654 29K- 7Hji3!54 104 54- 54 43X- 854 .. 3t!4 .. 03K 3K 32 "j 2 u?j- 54 7K 54 20 1 s - 633 1755 .. 25 r K 10 - K U7TJ 4. J5 40J4 - 5' 9?i T.3H 54 14 K ."0!4 - 55 2''4-t 54 102 - t 40I4 54 73 - 55 6354 I- 54 N NARROW LIMITS Packing Stocks Activo nt De dinos Markot Shows Inclination to Rest Vfm Vorti. Dec. 20. The market on the llroad Street Curb showed a gen erally steady tone, but fluctuations were narrow and the market, generally, showed a disposition to rest In trading positions recently established. The pocking stocks wero actively (railed In nt declines. Indian racking selling nt 2 to 2, nnd Allied Packers tier-lined to 0. Tftcro were jarge saiei nf World Film, first and second pre ferred, at the low iraction 01 vh. inq transactions were regarded as sales to establish losses. United Retail Candv wns steadily held at 7 and 7V4. although the posi tion ot canny producers lias oeen re garded as Impaired by the decline In the price of sugar. Packard Motors sold in small amounts at OMi. There wan only a moderate amount of business In the petroleum Issues, Inter national Petroleum ranging from 15 Vi to in?',, and Hlmms was traded In at (IM and 0. Mcrrltt Oil was Ptcady, selling at lO'j and 10, INDUSTRIALS Low i:sn Hfh Arm Hnitl 1 Allied Packtnf ft4 tint Amer Tobc coup... Hmrrlre Tubo (loodyear Tlra (loodjtsr Tire pref imperial toimcco Indiana rckln Inter Ilubbtr Merrer Motors I-kckard Motors i-errection Tire lliulto Com Itsdlo Com prat Itor de France Stearns Bros pref II 8 mciim . . . llnltsd Profit flharlm ... United list Candy World Film lt pref World Film 2d praf STANDARD OILS Aralo-Amcr Oil 16V, 1054 10i INDEPENDENT OUS p. m. S & IZta 12 12JS 1SK IS INK 2.1 S3 23 48 4! 4A 8H s4 sH 2U 2H 2H OH BH OS 1 H 1 9 0 0'4 ln K Ki ' S i 1H ah 8 a 85 83 85 1H 1 IK ltt lH 1H 1 ' ' ctfa. 10 4 k 3 2 a 2S tt l&v 0 Allied Oil lloaton Womlne C'arlb flynd Cltlca Sarleo "D' Denny oil 101k llaaln Tel ... Hnulncera Patrol . Peileinl Oil (llrnrock Oil .... armmda UufTcy ailleaple . Hudson oil Int Petrol Merrltt Oil Muunt I'roJ 0Ma H Omar Oil 14 rennox oil 3H Prmlucar & Ilenrwra' 4V4 Ityan Cona 10'i Salt Creek now OH H In ma Pet OS Hkelly Oil 7H Un Toxaa Oil 4k V 8 Oil 8 Victoria. Oil new '. Woodburn 1h MIN1NO Alaska Dr Columbia A Atlanta 1 Ilooth 0 Caledonia Mining 1U Camleiarla Mlnlns 13 Cortez Silver 04 Creaaon Oold 1H Creacant MacNamara .... hi i:i .Salvador S Eureka Croeaua 42 Oold Com 0 uuid Devel 1 Uoldflrld Florence A 12 Oolfl Kone 22 Great Ilcnd 1 Hecla Mlnlnr 3H Jumbo llxtenalon 4 Knox Divide 7 MacNamara ft Motber Ido 5S Mother IOde new 64 Mplaalns 7 nay Verde Cop 1 Itax Cona 4 Itochoater Mlnea a Ho Am I' 4 O 3H Htand Hllver Lead f, Tonopah flail Hoy 4 Tonopah DIvlile 1U Toiripah-JIm Duller 10 Tonopah Mlipah 7 Tonopah Montana 0 Tonopah lteacue Eula .... 20 IIONDS Allied Packrra 6a Amer Tel tla, 1022 Amer Tel 0a. 11)24 Anaconda On Anaconda 7a, 19 ill! nun Nteel 7a onn Qua Ha ftnltna 7e uooilrlcn Tire, 7a lnterb iln.p Tr 7a Krnnecott 7a Seaboard Aa Sinclair 7V?a Solvuy ha S and Oil. Calif 7a Stand Oil N Y 7a. 11130 ... Mund Oil In, 1031 Swift 7a Trxaa Co 7a I'nlon Tank 7a 100 xWetern Electric Denmark 8 Norway 8a . . . Swiss 6V4 a 78 OU 20 V. 1 7S att loft B A ,1 lo io5, oil 6U 10 7 k 1 n 20 ibJJ ip'a v ft 60U B3S H1H 81H BS uavi OS ta4 on iii 80 W3H si 87 07 H 3'i 7Dt BSV lOOVi U4 i"7V4 Mi 87 H7 43U 4SH HOH 87 09H 00K 100 1O0 lOOH 109U 10OU lfKCl 7a 97H OOH 0 no :u-yH- i :n -ri fP i -miiiriann with lant .ck Kxihani; Kriuiiniiriia for Inreatment Pinna Wat it i. I'm.er Co. 5s SliawiniBan Watir & Pr. 5'jh JosepaNV.Gross &Co. 1421 Chestnut Street f in Pwi unit Aldrad & Co. 2 Con Trni- .1 r, . i jr & r Tr -I" 1 I.nk Hup IIO.VUs iiivi. ;. ill In I'ENNA. TAX FREE SECURITIES PAUL A CO. Uruibera I'bllM, Hlork Uirbant 1421 CHESTNUT STREET li I.ehiKh Vul en l,(c. t I. ih HnmlM L'd l'i- i", :id i',s. 10 1th I"!".. IL. Vn- X l"1!". 1 10 l'liila I'lei- Ihi 5s.... 1 ripan-Amlr s II til Oil 11 l is 01 41 N't c) vn 70', 7iJU 70t.. M IJ ! 10 M V2 .()'' T W2 7.:) 7. .12 4-. 0(1 S-l.SS M.S-J S SS4..0'1 1)5 10!)," 01) !).", 11). 1(J 03 81 03 81 03 LIVESTOCK QUOTATIONS fh.li.nro, Ui-c 2H HOOS Katlmated r r an mio 'i d '-'I r 10 01)7 lim 1 . ttp d'iins i"-k'nc hi. ut Ht.ady with ,irlay'i a'iiKi- bldillriK loor ( MTI.E Eatlmuted r"elpt (KjOO head SMI HP Katlmalei1reipta. 13 1)00 h-.id I'lttsbnrxh. Ui- 20 IluOfl n-e'.ta. inon h ad ly.w-r Hnavi- till 2IO M; h h '.rk" t Ml liiflll 2S llhht ork-rJ .in I .i'i U '"'! H 7" Slll.l'.l' AND I.A.M1IS K:elpt. ("Ocih.-al s'lf.ils Top ehit-p. ID. top Umb. tl i 5u, hlEher. CALVES lt-cilpM 10D htal Uluher. Top. IIS Knt Ht I.Hlfc. III.. Dei 20 CATTI.E -Uaii-Iia. Min In fid S.iia K, i aatn ,il ti-er and h-.f r JV lm--r l.ldillna; 1 r on ro'i-n. can.iers at ad . In', ind e'oi k i i i,io fill e iir top in tut lissom:! HOUM lt.enrta liiiiOO head Slow and wen .ibout I'm- ti 1. ''iw-r th.,n i-hu-j-day a avi-ra. Top .h. .lnhla 110 1 h, i . top t" HO pirn up ti UOL". bull i.f -i ii livntltOlO nearlv nil w.Uhta b'-m J'n, ynun la a.'llltnv around 110, qua.tty n , . r;n.i'' many Iiocn Imi-k pa. kr bui-r i'n i.o-h i n miiinr-HK-'KH, jwi imii. f, i-vw earlv milea i-liad un.t-rton,. wi-nki l.f lauiba uni-old iit.on dei-u of 1 ml, brouirt 112 to rltv liut ht i . d lulib- ilrk uf co.u i i.rii-i.i -I m It - sf li r m il si Is ,'.i. .ny a -y nmnl. buU of ri.n lominun anil medium lambv - r.l-1 lllllTrtlii. N V D'O JO r-ATTI.i:- nec.'lpta 3'l'i ii id lo t'ali i rti p's 10(1 nckd. ht- idv 11 ID. HiXiS H". ilpn I.IOil hi ad S0i- t. -.Ti cT,. r. Id n til 2'itil'J. n.lxfd llti IJ!S urk.ri tl'.- 2' f 1.' 3f. Ili.-ht d nnd s 112 318 U I", r.iUKha tH 73 ''Hi .-inn tntn SUr.P.I' AM) I..MI1H Krci-lrta l-iii-j heu-l I.oml.a Mr hUher. I.iinlin ti)ill, yen. luga, I0( 11 wttbi-ra IS 50 Si 6: ewa. 2tf 1 J), r.lU.d ahcep, 1 5 it 3. .10. Financial Briefs Reserve Banks' Discount Rates The iiver.iiro urli-e of til" twenty urtive Industrial mocks 'lecllnd o OS per ctu i r-urton Official ridli-cuunl ntra at ih twelve Fed eral ltenervo bfuiks ore nn follow- Treti. l.lli Cum I Illire otra jior.dH. I-uit. Ac-.it. while the twentN 0 3 per cent to yesterday to 67 BS, railroads advanced 73 05. The Atlnntle CoriHt ine Ilallrond r0 w.ih (tranli-d aulhnrltv today by the In terstate Comm'rci- f'omm'HHlon to i-x-'-eute n enulpment tru-t unreoment nn-1 a lease equipment ,is;r(eiiient smountlliK to 14,600,000. The ndjourned -Tieetln of (lood year Tire and Ituhh.-r io Htockholdi-rH set for today at Altron. O , wan iiBaln noatponed until Jununrv 12, after the finance committee of dlrcctors reported th.it plnnH for retlnanclnc; had not been completed. On January 1 th. llrm i.nmo uf PIIIiiir & Crane, Iron nml nr.-el. w-ll be chunked to Pllllnc & Co There will bo no change In the preent pirsiinrei of thp Hun, which Is comioseij ,,f willinm H. PHIImb and J. rtosB Pill iiu' Mr I'rane rotlntl from the firm li. l'J17. V w Vork . . Millndlpt la . i'li-e!anil . . . Illchmond . . . A lanln . . . Chicaro .. . St. I.utlla . . Mlnni-uiilts .. Knniai city . Dallua ... . Han I'Vanrlaco. S'4 0 7 !U 0 7 0 .IH 11 fl! .-i-i i; 10 ll il t7 r,H 7 n il ; .l'i r.H ij 5' " to n ii to av ii ,tn o d s 04 ii n ii ?,' ft u Carbon Steel Passes Dividend PlttkburKli, Iii- 29 The Cat hon Ste Co has paused tho reculnr quar t rlv dividend of J2 on the common stock. Accordion to Chnrleg McKulBhl. nri-Hldent uf the company, thlH action wu tahen In ilnv of the prcs-nt eor.dl tlon In the ot.H.l bulnesH and the Indefin ite outlook for thn future. f.H Tier rnt on iwp'r aorurnl by fiV, pi-r cent cut flculea. and n por rent nn p-vpor . cured by 1 per cent nnd S per c-nt lerllfl. eaten tDI'cnunt rate riiireaiion.la wl-h Interrat rat" burne by rertl0raie n nljred an iol.ni. ,ral with minimum of .1 ir cent In th caa nf Phllndelphtr. At.nnta Kanoaa lit) unl Ditll.ia and fi'4 Pr icn In tho ruse nf C1, vr lund, Richmond. Dilraaro nnd Hn )"r.,ntlco Columbia Gas Declares Extra New Vurk, l)c 2'.i The t'olumhl.i f!a nnd Kleetrle Co. h.m declared nn extra dividend of JI a share, pnjabl Januurv 25 to Htock of record Jatiuur 10. Tho nieetlnu fur cotiHldcratlon of he rfKUlar quait rly dividend of 1(4 Pt r cent Is not pcheduleii to l, called until the middle o .lanunry The nuar 'erly dividend rate wan IncreuBed from 1 per cent to 1 , pr nut lant January BAR SILVER Bar silver wuu Id higher In London todny at 43d APPEAL PROFIT TAX CASE Connecticut Decision to Be Passed On by Supreme Court Wnalilnxtnn, Dec. 29. Tho KOVern mint will appeal from the recent de cision of Federal Courts In Connecticut holding that profits received from the sale of Kloclt by persons other than brokers Is not taxable ns Income. It wns aid today nt the Durcau of Internal Revenue Pending tho Supreme Court's con struction of the law. taxes on such profits will be collected as part of the Income tax, offlclali said, and should the Supreme Court unho d the Connecti cut courts, n refund will be necessary. FOREIGN EXCHANGE New Turk. Dec. 29 Knd of the year readjustments were considered respon sible, for general strength In the forelffn exchange markets at the opening today, the (tains runnlnK up from fractions to 1R points over yesterday's final llffures. The Scandinavian exchanges nnd pese tas scored tho trreatest improvement. Quotatlono wore: Domain! sterling 3 C04. cablci 3.51 'A : francs Improved 2, to 5 84-i for cables, checks 5.84; lire cables wero 1.35";, checks 3.36; Swiss cables 10.18 checks 15 21; wilder c.ablea 31.10. checks 31 20 ; pesetas cableH 13.20. checks 'IMS, Stockholm cables 19.90, chocki 19 85; Chrllanla cables 1B.9R. checks 15H0; Copenhagen cables 15.05, checks 15.90; Belgian cables .15. checks 6 16; marks were a point higher YUSTEIIDAY'S FINAL QUOTATIONS Bterllrnf Franca Un Oulldera 3.50 B.ha 8 S.I ai.as 3.31 n.hl 8.87 ai.8.1 lUJiATH OPEN1NO QUOTATIONfl b."7i7 '.r?.nc" Wr Oulldera . .1 M)Ji .1.S4 8.S8 81.20 . a.oift s.s4 s.saw ai io Demand Cublea Demand Cublea BANK CLEARINGS Dank clcarln today, compared with cor reapoiidlnn day Itiol two yearai rhlla. . tn2.HS3.TS3 ISS is't.l53 iruMday lloaton.. m,QK4 mo 84, 818 0114 Holiday MONEY-LENDING RATES NKW VOKK Money tin call, both clapsi-H o" collateral, 0ened today at 7 per cent for IriidlnK nnd renewing. rilII,Alli:i.lIllA Call. 6 per cent time, o per cent; commercial paper' thieo to fx months, ( rer cent ' (.Vote Theso aro mertly 'nomlnil (luotutlons, on tho legal rato of Interest In the stato of Pennsylvania Is fixed nt 0 per cent Plus premiums and com missions time miny for thirty to ninety days is loaned at 8 to 8 44 ner cent, while commercial paper, from three to six months, la being- offered at 8 to B,i per cent.) Extra by American Ice Co. Naw York, Dec. 20. The American lea Co hnx ileclnri-il an extra dlvld nil of 1 por cent on the common In addition to the reirulnr quarterly dividends of I per cent on the common nnd 1 Vt pir cent 00 ,n') JSK,rr.ei1 H,oclt' A" dividends aro payblo January 25 to stock: of record Jnnuary 13. What a Big New England Bank Writes About Credit Insurance ,. , A leading New England Bank has jnst v written the American Credit-Indemnity .. Co. as follows: "Regarding Credit Insurance, would say that we believe a merchant or manufacturer should insure his accounts receivable for the same reason that he insures his merchandise against fire -to guard against loss. "Almost all merchants suffer some loss'each year through failures and this normal loss, of course, cannot be insured; but at times, under abnormal, unforeseen and yet con stantly recurring conditions, such 10&3 may become great, and even embarrassing, and ordinary Dusinessprudence should lcada mer chant to provide against this contingency." This bank makes it very clear why they en dorse precautions that prevent, else Day, bad debt losses beyond the normal, which the American'8"Unlimited-Intcrim-Payment" Policy does. Manufacturers and wholesalers, it will not obligate you to write or phone for the full particulars. Payments f Ptlicihldtrt ahttt $10,000,000.00 AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E.M. TREAT, niiimmt tMuaa atAMDAao unumitso poucicsj W. J. Morphy, Manager J. F. McFadden, Ganoral Agant Mutual Lift) of New York Bldg. PklUdelakla, P. L aJ WHEN "STORM SIGNALS" FLY IPS NO TIME TO TAKE CHANCES FNANCIAL conditions at the pres ent time are not what could be called stable. In many lines big profits are being made, but in general, produo tion is not what it should be and there is a spirit of unrett in both business and labor. This is not pessimism, nor on the other hand, is there any occasion for alarm, if your business is well protected. But is it? If a crash should come, In what condition would your accounts be? Are you tureof them? There Is a way to be turc absolutely sure. Our Unlimited Credit Insurance Policies Insure and protect you against loss from bad debts. Better ask for particulars before, rather than after. There is no obligation. CUR.SUPE1V SERVICE ATVOtm. SERVKK LosteiPaidtn AitaaioinCurrrncy Established EifAteen Sixrnlne LONDON GUARANTEE AND ACCIDENT COMPANY LTD. R. A. IRVING, General Agent fbonc Lombard 4014 PHILADELPHIA, PA. 820 L Parttta Wd. We recommend the purchase of Victory 4 Bonds Due May 20, 1 923 Present yield nearly 7 We will buy and sell All Issues U. S. Certificates of Indebtedness Telephone Spruce 1480 Commercial Trust Company Member Federal Reserve System City Hall Square West Frederick Peirce HON DM Jp f INVr.BT von OC vX). mi-.m- 1411 ChaaUot fitrael, PhlUdalphla Safe Bonds for Investment HALSEY, STUART &. CO. Inc. ' ''JatJafaflk I Ai S ,'!aaaaaa il I Jlv(( t k 4, 'jh- -. r k-V " "- - jL- -. ."'.- Mn''t.i ihhAtaaa'alaaaaaaaaaaaalaBLaaaaaalaaBaaWaaB J"fail ''lati in iir r1iilJaaaaaaaaaBBiaaailaaaaaaafaaaajjMBB CW
Significant historical Pennsylvania newspapers