M-n5?Si!SM!R
?'
I
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f';(f' -
i ':
ill
fir
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Attractive issues offer
ing attractive yields
dominate our January
Purchase Sheet.
For first of the year
investment this list
should prove of value.
Will ho inn ilocl upon
i wiliest for I'K-.IOO
The National Gty
Company
rhllat.flphla-.M21 Chsstnut St.
AtUntlc City Cfmlfont. Dtock
1223 nritrdwulk
EVENING PUBLIO 'LEDGER-PHILABBlDPHIA WEESDAY, MAiWAHY 5, 192f
IRK
EI SHOWED
DROOPING
Beech Creek R. R. Co.
1st Mtg. 4s, Duo 1936
PRICE TO YIELD ABOUT 5.7Srr
l.teil on nrk stork r.xrliiinse
1'RKK Of PKNN. TTK TV.
Bell Telephone Co.
of Penna.
25-ycnr 1st & Ref. S. F 7s
PRICE TO .YIELD ABOUT 6 80rr
l.lalfil nn Nm rk mill I'hllt. Stork
rirhancra.
niKi: of i'knna. sTrr: t.w
Wcstinghouse E!ec. & Mfg. Co.
10'-2 year 7s
PRICE TO YIELD ABOUT 7.70rr
I.Ulrtt on vr Aork Mock Kihniisa
ntr.i: or pknna. stati; tax
Cerro de Pasco Copper Corp.
10 year S. F. Convertible 8s
PRICE TO YIELD 6rr
General Asphalt Co.
10 year S. F. Convertible 8s
PRICE TO YIELD 8.20rc
Metropolitan Edison Co.
Reading, Pa.
15-year Ref. and Imp. 8s
PRICE TO YIELD 8.50r'r
1 IlKK 01' PhNA. .STATU T VX
Dcicriptivc Circulars on Request
2AJR.SLY JBRO S. &. CO.
BANKERS
1421 CHESTNUT STREET
PHILADELPHIA .
MKMItKK I'II1I.IF.I Pill sTdCIC
i:uiamii:
For January Funds
for
PPL T4
A' Five Yrar
Serial Notes, Se
cured by Set Quick
Assets of 2 5 times
and Net Tangible
A,s-M of nearly 6
t mes th" amount of
hese notes
In Yield
9.0S to K42rc
I onvrtib!fl On
p Quiuk A:i of
2 4 times rtnH Net
TAnRin.e eM of
or 6 times these
rot-
ttrnct ve c nvert.
bV priviic into
1 'ri r o m m o n
nr , In iold
rrt. t s'.o
Hollister. White & Co.
run tnr.i piii
North Xinerimn llullillnc
Hoon Proihffme .Sew nrk
Hprlnrtlelcl 1'itt ilelil I'lirtlnnd
Oil Group Again Sensitivo to
t Selling Pressure Trading
Vory Dull
Now Ytirlt, .Inn. ,-. The trmlliiB in
tmln k Mtock tnnrkot rvtalnetl the sanie
'iiMMirtiiitK iwn-nlilod rhnriictcr ns
ImnrkPil the (IcallriKs .vpitPfd.ty. About
Min ntili ilirTiTcucf was that tlip Nwlng
, "i iim iiPtidiilum wns little xtrotiRpr
I nn tin- down dip. whereas jesterdny it
i -howed the Etetlten fnree nn tin. nn
I tnik. Hut the inil outstanding devcl
, nieut was ti the further proof rIvpu of
flie market drifting itfto n narrow trnd
, Inc nrea. TliN was foicibly ronfirined
in the pronouneed eontraelioii In the
volunip of dealings and the perreitible
narrow iiir ot tup ratiRp of tliietuntions.
In ftot. the day's proceedings pre
hftitetl little in the way of novelty. The
hiahly professional calibre of dealings
being conspicuous In all quarters of the
Hit. On the other hand, movement of
the foreign exchange miirket was (1p
cldcdly interesting with a nharp over-
nigiu ri"e oi nearly -i cents In the Lon
don i ate. There was n corresponding
spirited rebound in francs and the Ital
ian lire. I lie trailing contingent, how
ever, were so busily engaged In gettlnu
their own affairs adjusted to pay much
attention to these interesting develop
ments. Neither did the relative ease
of the monej market afford much nt
tiaction. Despite the heavy govern
ment withdrawals call monej, accord
mg to the hoard reports, was in abun
dant supply nt 7 per cent.
The tlut opening foreshadowed a dull
and uninteresting day. Keren t irregu
lar londitions wire unchanged in the
earh proceedings, although rontiary to
the incitement of the piTMous session,
ileclines exceeded gains. The drooping
tctidftii v encouraged more aggressive -lie-
on the part of the shorts within
the tirt hour. Their nttaek were di
reeted principally against the oils, ship
pings ami the miscellaneous list. .Mexi
can Petroleum lost 4 points. I'nn
American and Royal Dutch, ', Atlantic
tiulg. It'...: Independent Steels and
equipments, 1 to 1 U. ; American Sugar,
l'. and American Smelting. 1,j.
Kudicntt-.Inhnsnn reacted 'J points,
Continental Can. .'t . American Tobacco
and Sears Roebuck. l:l, , und IuvcM
I nieut rail-. nntabl. Reading, (treat
Northern, the I'm itirs and Chesapeake
and Ohio. I to l'. A moderate lallj.
led b Haldwin and Crucible, proved
'ineffectual, pru e dropping back again
' before noon.
LOCAL SHARES PUT
A STROyC FRONT
Trading Continued Light With
Price Changes Restricted
to Fractions
Considering the mii round. ng d's.
turning sentimental influences the local
market again put up quite a strong
front todn Contrasted with the ac
tivitv in the closing weeks of last car
the trading was tniiie and of .mnlf ill
mensions. This. howeer. was ensilj
eoiinterbalauieii b good undertone the
market had and the relative steodiness
I of nrices of most of the local issues.
I The forward swing in the utilitv
i group was not resumed, indicating the
I I'omtdetion of the operators incidental
i to the 'establishing of 1osm. Tiw.r..
was. however. Mime further tebu.ing in
this connection, in other parts of the
list, but with the fxeeiitinu of I.nfc..
I Superior Corporation did not renih er
large proportions
In most of flie locul stocks what price
alterations were recorded weie confined
lo fractions. Hlectric Stooge Hattery
i made a new top for the cunent niove"-
1 inent at !H. ulthough subsciiuenth
1 droj.peil b.li k to !).". the pimus high
: mark In the railroad list Lehigh Vat-
o diopped hack nearly a point, white
, I't nnhania Railroad was steady.
I'mted Cas Improwmciit. Philadelphia
itaiiii ii.iusii nun i-niiaueipiiui I.lec-
NEW YORK STOCK EXCHANGE TRANSACTIONS
trie ISMlf-
tig, I res
held at yestenhu '
Philadelphia Stocks
Here Comes
1921!
!' r '. i w.i . o
within th iM-omci.
1921 w,M I,., a ear of
profit's ".
'I llOOe W 'ill M.ilr C ' IT J
lar ('i'po.it i'i :i j mtr
ace un' I c c i'i ii jiIi)
pro-pent, .
CiBNTIRMi
Marcot jmI ' fourth Sts.
PHIUUL1PIII. a
CAPITAL & SURPLUS
$1,450,000.00
11 Kh
vl Am Stores
prel . 4M,
I'll Am Kuj,
pief !7
7.". Huff
pr f (."
-Kl Klec Mi. i- !MJ
L'.'O (Jen Aspii
pief . . sii
llMIKien Mtl's H-l,
10 I Co N A M:.
inv, i. sup c s;
"0 I.,), Nav. (17
17!i I .eh Viil .-.(!',
Ki.'tMidvuie :::i
i I'n K It II'.
."i l'lula ins
Wire ."l"
JO I'hila c
it in pi :vj
:!." I'hllll Klec L'L",
I IO do pief ,71,
I J." I "hi la IIT 17
!o Toni .Mm I i
17i hi Tran Oil s
"Jo I'n Trin .'io'i,
'Hi I li .i-ji;
JO I III Co.
.1 111.-,
L'lltl S Steel s 1 ,
10 ..rk liw 4
pref ::o
' s- ' ll. tf Ml t 1 t
i fi .New ,!i M,,, ,
lest
V. t
i ri;e
IP. P . - I
si;
H .
L'n'..
"17
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2110
1600
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in uo
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lion
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'.'700
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7100
4X00
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91011
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inn
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KM)
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lli
111 I
Adams Express
Allied Chcin Dyo. .
Jnx Hubbor
Alaska Juneau a M.
'MilH-Chaliners
Midi
7814
4SS
31
H
Am Auric Chcm (I0X
Am Meet Suenr.
0 Am Uect Suenr pf . .
lo Am tloseh Magneto.
Am Can
1 Am Can pf. ...... ,
' Am Cai & lMy....
An, Cotton Oil ....
o" -Mil nrug syn.
Am Kxorosa .
.10
hi
II)
8
V4
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30 K
91
HI
UK
t!7H
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5.1
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50'i
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8
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4t
747.
7BJ4
my,
21 u
1 14
in CxDresn no
Am Hldo A Leather.. 10
7 Am II Ida & Lonther pf 4s
Am Internat Corp.... 30J4
I Aiii-L,i Pranco Knir.. 0
J -Mil l.lnsced tnyt
-nn iiusecu pr
o Am l.ocomotivo . . .
Am Malt
Am Safety Razor...
Am Ship a Com
4 Am Smelt & Hot. . .
7 Am Smelt A lief of.
.1 Am Steel Foundries.
7 Am Huirur lief
7 Am Sugar llof nf 'int
in Am Sumatra Tob 7afi
7 Am Sumatra Tob pf . 8.HS
it Am Tel & Tel U7H
1'. Am Tobacco I13i
0 Am Tobacco pf i.ew. . 8s
I- Am Tobacco B 113-;
7 Am Woolen oo'
Am Writing Paper pf 35
. Am Zinc Lend & Smlt 8?i
. . Anaconda Copper ... 30H
. Assets Realization . . 2H
7 Ahso Dry Goods 2d pf 45
Asso Oil 85
0 Atch Top & Santa Fe t7J
fi Atch Top & S P pf . . . 79
. . Atlanta Hlr & Atlantic 7V
7 Atlantic Coast Line . S4'-i
. . A I hi.tfl.. 1...I. ... .
..........t. t- i un pij,-
Atl (iulf & XV I K a.. 71
Atl Culf & XV I S S pf 13 ;
-ii running 70 pf 100
a usi in Nicholas .. .
7 llanlwln Locomotive
Haltlmore & Ohio. . .
4 Baltimore & Ohio pf.
. . Uethlehem Motors . .
n Uethlehem Steel . . . .
6 Uethlehem Steel B. . .
a Uethlehem Steel S pflOl U
Hooth Fisheries 4,
. rk'n Rapid Transit 10'4
.. Butte Copper & Zinc. 5
Butte & Superior Cop 1VH
.. Butterick 15
.. Caddo Central O & n 14
2 Cai zino & Lead oi4
.. California Petroleum. SB
7 anrornla Petrol pf
10 Canadian Pacific . .
7 ''ace ' I In pf.
. Central Leather . . .
7 Central Leather pf
4 Cerro de Pnsco Cop
10 Chandler Motors . .
. Chicago & Alton. . .
4 Chesapeake & Ohio.
.. Chicago & Gt West.
.. Chicago & Gt West pf lOU
. . Chicago Mil & St P. . . Wi
. Chicago Mil & St P pf 44 ,t
R Chicago Northwestern 07 '
Chi Pneumatic Tool . ?U
chl n I & Pac 27
Chl TI I & Pac 6 pf 03
7 Chl It I & Pac 7 pf 7.1
. . Chile Copper 1 1 li
1.50 Chlno Copper 23
.1 Colorado Fuel & Iron 27'i
1 Col Graphophone ... 0
7 Col Graphophone pf . M
7 continental Can CO
1 Continental Candv 4U
4 Corn Products IW C0
7 Corn Products Hef pfinn:,
;..",n Cosden & Co 30IJ
8 Crucible Steel . 7H
' .. Cuban Cane Sugar 22'i
7 Cuban fnnc Sucar pf C3
7 Cuban Amer Sugar. . . 20
n Delaware & Hudson. 100
I" Del Lack d Western 210
. Denver & P.lo Grande ?J
.. Dinver & Rio Gr pf. . 1 i
1 Dome Mines in'j
.. nil: Horn Coal I A
fl Hndlcott-JohiiMMi .... 5.1
7 Kndlcott-Johnsim pf . f7'-2
.. Erie 14 is
. . Rrle 1st pf 20
.. Krle Id pf . . i4'j
s Famous Players I. . 50
7 Ffderal Min & Smlt pr 25
10 Fisher Body 70H
. . Flk Rubber 1IU
. . Freeport Texas . 14
Gaston Wms & wig . 4
. General Asphalt .... 47'
7 General CKar il.-f pf sna,
8 General Hlectrlc .. . 121 i
.. General Klectrio its . 4'
1 General Motors .
0 Hi n Motors deb C', .
6 Goodrich II F
7 Goodrich B F pf
7 Great Northern pf.. .
4 Great North fire ctfs
. . Green Cananea Cop .
4 Haskell & Barker Car.
. . Hendeo ctfs
. . Houston OH
1 Hupp Motor Car
7 Illinois Central
no liidiahonia Iter
.. Inspiration Con Cop .
. . Intf rb Con Coip
. . Inter 1 1 'on Corp pf
A Int Agrlcul Corp pf . .
7 I tit I Harvester new
. . Inti r Mer Marine. . . .
0 Int Mer Marine pf . . .
7 Int Motortruck 2d pf.
. . International Nickel .
. . International Paper . .
. . Invlnc'blo Oil Corp . .
. . Iron Products
. Island Oil
2 .lo'ies Bros T. a
Kan Citv Southern .
Kansas (. It v S'o pf . .
I
113
04!i
4nB
7.1
7.1 'j
29
30
is
10
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120
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400
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400
330
109
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100
100
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40000
2000'
4000
13100
700
400
200
100
1000
1500
800
200
700 ;
100
100
too
100
200
700
2800
100
1700
lll.li
Keny-sprlngfleld Tire 44
. Kelsey Wheel 41
2 Kcnnocott Copper ... loU
. KiyotoneT&R 9J4
. Laclede Gas of St L. 4014
a i.ncKawntina Stool
Lako Hrlo & West 13 1.
Lake Erie & West pf 25yi
Lehigh Valley 80 4
x Mewe Co 17
.. Loft Corp 114
. ljose-Wlles Biscuit . XI
12 Lortllanl Tob IM
7 Lorlllard Tob pf. . 100
7 Loulsvllio & Nashville 101 76
Malllnson & Co
7 Manhattan Elev guar.
. . Maxwell Motor
8 Mny Dept Store
12 Mexican Petroleum...
2 Miami Coppor
00 Middle States Corp .
4 Mldvale Steel & Ord .
- Minn & St Louis. ..
7 Minn St P & St S M .
Mo Kansas & Texas .
. Mo Kansas A Texas pf
. . Missouri I'acmc
. Missouri Pacific pf...
. .Montgomery Ward . .
4 Mulling Body
BO National Acme
. . Xat All & Chrm ctfs
7 National Biscuit .. .
Nat Cloak & Suit . .
o Nat Enamel & Stamp.
o ,auonai L,ead
. Nat R 11 of Mex 2d pf 4'i
. . Nev Con Copper 1114
0 N O Tex & Mex
ft New York Central..
1'iJ
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14
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1930
411
830
3500
100
1800
400
100
mo
700
17000
15 110
000
2300
100
700
500
100
200
2000
203
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300
no
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830
1403
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.1000
6000
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100
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too
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00
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103
300
00 2.no New York Dock.
New York N II & H.
1 New York Ont & W.
7 Norfolk & Western..
7 Northern Pacific . . .
5 Nova Scotia S & C.
40 Okl.-i Irod & Ref...
. Otis Steel
. . Pacific Coast
.. Poclflc Devel Corp. .
. Pacific Oil Co wl . . .
0 I'an-Amer Petrol . .
0 Pan-Amcr B
Parish & Bingham .
3 Pennsylvania R R . .
Penn Seaboard Steel
. Peoples Gaa Chicago.
. Pore Marquette
S Philadelphia Co
. . Phillips Pet
. . Plerce-Arrow Motor
8 Plerce-Anow pf . . .
.. Plerco Oil
8 Plerco Oil pf
5 Pitts Coal
n Pitts Coal pf
. Pittsburgh w Va.
8 Pressed Steel Car .
8 Pullman
8 Punta Alegre Sugar. . 40?i
4 Pure Oil 3J'4
M Railway Steel Spring. t3
Hay Con Copper ... 14
4 Heading h27i
2 Reading 1st pf . ... 53
.. itenungton l.vpewntr 27'4
. . Replo Steel 34!i
8 Republic Iron & Steel C3
.. Republic Motortruck . Ih
.20 Royal Dutch Amer... C6H
1 St Joseph Lead 12
. St Louis San Fran . 23
. . St Louis San Fran pf 31
.. St Louis Southwest.. 26H
.. Savage Arms 13
. . Saxon Motor 31i
.. Seaboard Air Line .. Ul-j
.. Seaboard Air Line pf. tl!i
8 Scars-Jtoehuck 851$
.. Seneca Cop Corp ... 18!
. . Shattuck Arizona Corp 5;,
74 Shell Transport 1,1
.. Sinclair Oil 33H
o Sloss-Shcff 83
0 Southern Pacific .... 007j
.. Southern Pacific rt8 . 25H
. . Southern Rail ;,t
5 Southern Rail pf ... t74
20 Standard Oil of N J ,15li
7 Stand Oil of N J pf.,105Ji
I.ow
4714
41
1RH
'4
4014
jhH
W.
18
111',
31
M8K
100
101 1'4
It
47
!
CBys
15014
17
l.V4
31 K
12H
724
M
4K
H
39 4
17
22'4
20 J4
48
1(3
2!i
50
71 Va
Va
lo7i
00H
71
23
1SH
187s
001,
M
31
W
137s
24
15yi
40H
11
47
2H
BBK
54
18
3.1
127s
73
2H
4?4
20
40H
174
32.
27i
48
103
2'2
50
71 U
0 K
. 72
. 23
. 10s
. 1874
.10134
87 Y,
. 31
SV2
. 14
. 24
1514
. 40H
73!,
. 09
. 1334
. 41 V
a ',4
. 35
17J4
. 35
. 281s
- 2114
74 J4
. 1174
. 7514
. 58J4
84 ti
. 29
. 82
I0B
33
45 ?4
127s
8
43 'J
K.'i
31
13',
'.Jlu
Stromberg Carb
7 htudebaker
2 Superior Oil Corp . .
. . Tenn Cop & Chem . .
3 Texas Co
. Texas & Pacific
1 Texas & Pac C & O.
. . Third Avenue
. . Tidewater Oil rts . . .
2'4 Times Square Supply. 10J,
u iwuiit. j-ruuucis ... 1 4
. Transcontinental Oil . 8U
10 fnderwood Tvpewrltr 120
. . Union OH 21 '4
10 Union Puclllc Ill)'
I Union Pacific pf C5J4
4 United Alloy Steel ... 33
12 United Fruit looj4
. Unl Rwy Invest pf . . 21 J4
3 United Retail Stores.. 55
0 U S Food Products.. 23
8 L" S Ind Alcohol .... C.l
M'S Rubber 04 sB
8 U S Rubber 1st pf..l03J-i
60 II S Smelt & Ref 34
BUS Steel hi 'i
7 U S Steel pf 100
0 I tali Copper 51 4
4 Va-Carollna Chem ... 37
0 Vanadium Corp wy,
1 Vhaudou Ino n
Wabimh (,T,
Wabash pfd A 21
Wills Fargo Express. .10
vw-nern Maryland .. 10J4
Ex dlldtnd
West Maryland 2d pf 1st
western Pacific
Western Union Tel . .
WiBtirighouso A Brake
Westlnghouse E & M.
Wheeling 4 L E
Wl.ita Motor
White Oil Corp
Wilson & Co
Willys-Overland
Willys-Overland
Woolworth F W
Pf
27
87 U
0
43 Ti
91i
.10
l74
4114
1Ui
11.1
07
12 14
40 T4
0'4
34 H
1714
35
28
2014
73)4
10H
75
58 ?4
8.1 H
28
81 Va
10514
45 H
14 H
83
Llli
81 H
51 J4
27
34li
02
18
31i
12
22 ,
31
20 1'4
13
314
04
1174
V4
174
5J4
421-i
2234
50 7a
08
23
57 Va
1581i
10514
329
4.1
7?a
42J4
16 14
29
13'i
I2?4
0U
3H
7J4
170
21 J',
H7!i
05 H
32
105i4
71 4
54
21 9s
G5
C3V-4
C3i
81 '4
108'C,
.11
37
321,
7
8',a
20 li
50
10?4
1734
27
80 Vt
04
43J4
!i
.16 H
13
llli
li
.11 'i
11.1
liOO
Clou
4214
41 19 li
0U-40'4-'
53H-1374-2074
5H
1( -
11W
.11 13894
100 101 ','4
II
47 -
H
flfl!-4
152 -17
-13'4-81
34 -1234-72-
434
i3H
.1014 -H34-
22' i-2075-48
-1
CI
25ti -50
-71
Va -4'A-11
0094 r
71 -
23 -
1894
1874 09)4
81 -31
-314
1375
24 -
M!s--40
"
72 -07
-1.1
41 W
0U
.
35
28 -20
7i-
74 34 I-1094-
75 4
0834
8414 1
14 -
1051-4-4594-
34 94-
83 -13'i
82'4-
5134
27 -
34!i
1.2 -IS
-C4'i-12
-22
li
31 -2034-13
V2 4
bli-
11!i
114 -
1794-
515 t
ill
Net
Chse.
134
1
74
Va
214
OIL
IN LESSENED
94
74
14
ili
3
H
1
Vs
Va
W
74
9i
14
li
14
l!5
9i
2'4
IH
i
8
DEM
U
Croup Wavors Under Prospec
tive Price Reduction of
Crude Article
i
17a
Ta
1'4
7t
9e
Va
H
-,t
I
234
14
I "4
1
94
!s
94
115
Now York, .Inn. ". Although there
was heaviness in a numbrr of Isriips
traded in on the Rrond street curb to
day the morket tone generally held
Mcndy and some Issues, in whlrh there
weie special incentives for trading,
showed pronounced strength.
Standard Oil Issues yielded modrr
ntely. Anglo-Americnn being traded in
ni irnin .0 to ni-4. The lilgher-pricril
stocks in (hnt gioup sold off about f
points. riiPie wns a good demand nt
the slightly Inwttf levels ntid the re
cession was regarded simply ns n (em
porary halt in the buying mqvenient.
. Indppcndent oils were slightly lower.
but without any show of weakness.
Fairly large offerings were easily ah
mii bed nt fractional declines. Sinims
Petroleum was steadily bought.
There was n check, for n time, to
the trading in I'iggly Wlggly, because
of a disposition to wnlt for definite
statements In regard to the reported
plan for absorption by 11 large chain
stole loncern.
Tobacco Products Hxports. a favor
ite of the Wlielan group, was one of
the strongest features mid moved up
1 point during the forenoon. Inter
Continental Rubber held firm.
United Retail Candy, which was n
stiong feotuie yesterday, wos in sun-
ply today. I'arrell Coal was lower and.
Hercules raper was heavy, declining
to !'!.
IMir.STItlAl.S
j niiiiiiii iiiiiiiiiiiiiiiiiiimimiiiiii 1 iiiiiiiiiiiiiMiiiiiiiiinminiir
i',2 -
22;-
6074-8l4-25
-2294-57'4
15814
10514-32T4-43V4
-12Vj
-8
i
I
f37i-
7K-
12B !
2134
1'8i
0594 32 -
lOSU
2134 I-
tVA-
1
94
94
v4
1
IH
65 - i4
3'i- P4
10374 - 94
3374 i ',
81 is- 9s
100 1
51 34 34
37 - I
C3 - 1
7!-i - li
894
"?4- I j
50 f- 4
IB94
1734- 34
-7 - li
87'4 ' t',4
01 I
1374- Va
M - li
1574 f- 14
15 - 14
4u: ..
)i
II 7i- '4
113 li
High I.ow
Anne 1 oivl ... ... I i
Hi it Siner Tulme cihid . 12 I2
Ukljn City llv ;, 4tJ
lulumbla UlnernlJ 1, 'ji
l-nrrell Conl lulu is',
Hercules Paper . ... 1.1 la
inier Hilblicr sli
Huliirs Knit a . . :t4 t;i.
i(nlne Krrft u il i:t5
lliilnes Knit pief .. .. nn tin
Perfection Tile .... IS p.
llatllo Coin 3 j 7
Huillo Com pief i't mu
Hoy ilo Kmnn, :ii. nl.
Hu eels Co ;." "i
1011 rroil Kxp ji h
1'rlAinilp Kllin .
v Htenm , Pi
Cnlteil front NnarltiK . H,
I nlteil Hot Ciind 11
U Mhip i4
STAM)Altl) l)II
Anulo-Amrr Oil mi
( Oil jr;,
.SUiid Oil of Inil (old I ,13(1
Mland Oil of . V. 313
1 80
P. m
I
12'.
2J:
18't
JH
'
1H.
13'
nn
i'.
K
1
8Vil
l'
j;r.
ais
11
ili
84
14
lll4
275
.'tun
sill
J I
Commodity Markets
M'.
lo",
li;.-.
.'in
ll()M,s
II. Kl. I
J Am (Jus
l.'lec .s 1 ;:i
lo Hell T' I 7 lol "
.1 Key Te (
1st ."is
.I I.eli V11I .-,4
.1 Lib Hmids
I'd -P,s
o lib -P,s
.'. Vic I
' Pa R If 7-
J I'lil'll i:'ec
1st .-,.
no
'.Hi',
UllMfl- ll VV ll
KxthnnK'
I 11
e ni
en
nn-',
Cil
:mii,
1 1
Ust '
Ml
101 '
i;n
'.MP,
ii .".n Mi :;n mi .".o
sti no m; oil sii.oo
!iti.."i) im; i'j in; .-,11-lol'i
lol', kip,
GOVERNMENT
lfCrggSgSg5S
ZSIBSffWWW
il t - la
,iri- t
1 ill
mv.
i oupon 11 J fljll 1
BONDS
Id I
Si',
"P.
i COTTON MARKET
, New nrli. .inn. ."1 -Aided bj better
1 textile tiade lepoits. firm cables and 11
I lump 111 fonign 1 hutige. the under-
I tone ot til ttoti llllllket showed n
I great impriitcmciu 111 the start todnv.
prii i", ndviiiii mg '!' to li' points on
I first sales i
iveriiool and 101,111 shoru were large I
'biljer at iho opening, but di mand wo
s'' 'supplied by New Orleans and South-
"'" ! em helling and shortly after the nil
. ; 11 reiutioii of about 'Jll points Mcciirrid.
I (finiiiiig i Peceniber .'il. of U.-.
, lMO.000 bubs, a, rcpornd bv the N'a-
liounl (iinners' Assoi iiiiiun. lepri senteil
the largest amount for the period op
iccolil. I lie associaiioii iuinateii tne
crop "c L'l.0110.000 to U'.jiMi noil halts.
The market at the end of the twinu
ininiil's. wns 111I1M' 11111I ahoiit n
UOlllts lllldel lllllllll ltiU, Inn about I
'J.'i points nboe lust night' clou
Coltoti rcitiiiis nt tin pints Im the
ia Hie eslilil'l'ed nt 'JOIHKI ba'es,
again'! 'J-.-'U- hales a wn-k go ::ii,-
7S7 liiile n J''!r i'o. mid J.'t.'.ils bales 1
two j 1. 1 IS Ur"-
i'rda. und xoggnl to I
, , Financial Briefs
giound liuilP)' geneial ! i
nt tint end jesterdaj.
M .li.l'-.
Corn also lost
... 11 1 . . .
-m.., in Miiiui lots py commiNsion
houses. Hujing was unlmpoitant. Re.
teipis were liberal und there we,,. 1(.
pons that farmeiN were selling moie
tP'elj.
.lunitary started nni hanged ,n r.Sc
Mnv opened at 71"v lo 7-n,e. against
1. i'p- at the end jestcnluv, and later
old at 7P;!''. .lulj stinted at 7. ', 1 to
7."''s . against 7(PNc at the close e.
lerdiiy.
Offerings of oals win- larger and the
limiket was euvcr. Ma opeucd at
lilfi',c to -I'.PiC. uguin-t -KIOhc nt the
1 ml yesterday. Julv M.utid 1,,. higher
at -lbc, and declined to jsi ,r
Tito
.'PS
."0
JO
'!'
LIVESTOCK QUOTATIONS
( lilniRO, Inn ',
Hill. .'., HUH lieHil
llUdS Kn'limtttd 1
left m r I ' ?nr 1 ,
1'im biI-. lilt l' Ii.wvr than "vrM'ni..v .
teerUl &. tU sr, 1 1
hllKKI ITst in unl 1.
hih:i:p iimM'xi
' ch.
ll (inn i,.i
13 (l"'l li ii 1
v k
ml
I'm
RAILROAD EARNINGS
" M'lAV I'M M li
!'.', I , l ie
. I 1, , I", 'i4" lillll IS7 HUM
I 1 1111 lino Is .ci.'l nun
National Bank Call Issued
ii.liliiL'lioi. Jan f, Tin . oiiipn iilet
i il, iiirretn toil.i uisu.il a , a I foi
, ir'M'ion uf nil 11.1i ioim I I, links a!
ilie i loe of Inisiiiess on Wedin s,',i 1 1 -
11 nt 1 r .'1
NEW YORK COFFEE MARKET
New "iork. .Inn " The 1 nffi e 111,11
ki I opelieil itngullli. 7 pouts Ihimi
In 7 points lilgl.t 1 "I'll till' weill.ln-s
Itspliped 111 Hie near ui'ilitliH The ol
unit' of business on the in'l was uul of
MilbVlejit nmoiiiit to establish any par
ticulrclmracter 10 the trading.
23T
U-
1 1-,
Mm
Ms
IJ
l're ,
' I II. .
1 1 ll"
1 I O'.
MM
I 1 .'"
I.' in
I'lttslilirjll. Jrtii -, HlMis
l.e 1,1 lllKlier lleime. (
rs JIJ 7.". I lilit mil,, .-
u .1
sin:i:i' ami 1 .ms it,
lieinl Mi ni I ,, ,Hhee, Si,
J13 .'ill
'AI.VITH t..,K,i T'i l.ej.l aICal
lis Ml
-I! M
llep
ni plli
eiplN
lop
I 11,11(1
'"IM
jl.l'l
loon
mini
I l '
government unl w 11 uirnu im.
kh,, r,rtn ... .L " : .-.", ,.,-,-
"",'" irum ine inemiier UiiuKs In the
.New York district on Thurstluy.
The United Slates Treasury esteidav
purchnted 250,onu ounces of Bllwr to be
delivered nt Philadelphia Total pur
thasea under Iho I'lttman act to date aro
10. 527, 047 ounces
IliiUhes ic Uler bae opened nn olllm
.it '.1 Noitb .lonathan streui, lingers
town, Md . In charge of s l. Dubbel.
The locul sales stuff of the National
Cash ReglRter Co . under the direction of
John T. WiitEon, illstilct inunngui. will
attend tho conientlon of sales uijents
and salesmen at D.u ton o. the week of
January 1 0-1 0.
Tho Vulcan Dtiltiniiig Co icpoils for
September 30 uuaitei toi ,,,.( income
S.5.CUJ, agulnst III:1:: in nm j,HMll.
pel lull of 19 lb
The average pile,, t twenty active
Industrial stocks dei lined .n;, .,,,r , ent
yesterday lo 7J TC while twenty , ,il
roadj were off ;3 per cttn. at 70 21. '
Leo, HlBgliihon it ( o nnnnuneo tin;
Ruhsell MfConnlck has becotiin asso
ciated with their office in this city
r 1
1 1
ii,
1 1 ti
e
HI
I I 17 ,
I I ."il '
1 I HI)
geneial
GRAIN MARKET
CIlllllsO. I"" " 'I' '
sellillL' of Wlie.lt In co'lllnls.iiin
this morning and llo- in .1 kit was wink.
Iliunig siiriimrt a lion- 11111I si altered.
The uiidei loiv wiis ulliitui ,inrishl In
repoils 1 Inn banks im N'niHi Pikotn were
bringing pii-ssure to b'Hr up farliitis
in dispose of t In 1 1- grain Renewed
weukness ill W 11 11 1 pi"." iiinl liugir ofTcis
of Coiiiidinii whuil at lo.Mr piiMiiluins
also helped the deitic 111 I he fine
of hijfliei Hi'ts foi -teil'iig esilmiige
im ti 1 -n i'pi 1 1 onli 1 . v. 1 1 pp 1 led
Marih stnriel 111 SI 7J to SI 7J'.-
neuiiist SI 1 i'j !' '1 ' "I " 1 ma
and dcellneil In SI 1 1
I'llst s(, lonls. III,. Jnn 5 lAPII.I"
lleil.lpli. 4'IMl he-iil Hleer nltailc .,,.! ,n
I una I 2fte lilicl er mini nn.l hflfr n
Kllliil" hlulier lull's ."( hlxhnr r . nrir r
nie.i'ly prnitnal eal eslf lop. Ha '.'.-, hmi.
11.(1, n 2... rtinpKern and feedirii L', h's'her
llilCIS Itoielpm Ihlll)', hmnl CniV,
Bin, start n-arket now wAkeninu filrlv
lollNf III .'(It In Jlli Iihii veiteriUt x ever-
I u... n-..n K.I.I. 111 I...II. II ,k... ....
I.. ...... j ' "" '1 im"'" " i, .,1 IIIIIK hiio Ilie.
Houses . ,iiumM ill iKiffii 1111 bulk lin.i .1 11 mi
II 71 pO'kei h,,. J.le Inner nl.-s and IIkIiI
;.n Ik Mii Inier nnniity fulih Knod nun Ii
, f un null 1 1, 1, rrne
sllKhl1 lie v.it 3 1 no tiead S,nv
I nl ri.n. I ini MUiilitv ir ' ill urn 1 ico id I 7 -icd
...... .1. . j e.1 un,,.l l,.n , i l,,nl .. flu ,. .. I.IC.I
ii' . e il 1 11 ie
Ills, lllllTilln, N 1., ii,. .', (AITI.i:-ItililMl-
1.". lied Sleltilv in , r.
nlp'K 3."i limd ."in- lilehiT SI ftin
to (.H- IP (if,i Jlmi hnd s-t ni, m
.", I inn r .ii noldn 7.1 inlx.,.1 III
I IJ ' 11 r 111 ",0"-ll 7". Mulii ,m nn',
I . Ml ,', , 1 ,, . s -OH 7', ma.i
9 , 11 ,1
'II AMI 1 MIHM Hereipu 1SII0
in- nnrneil I n"a' "itisay in -ui'-iti; loner. L,smps l
Aluy Hlflir,,,i,i a ..., .ll-.. tAHSIIn ..!.. tmirn
'""-, ,,'f. .tf'flrt'T'l '.'. J.n,..n- '.-y'., ., t-,..c. n, , .
lit "fl-0171 (( T1 '" "Kaiust, i.uivi 11 00 eves, i:v
Liverpool Cotton
l.herponl, .Ian 5 There was an Im
proved demand foi spot cotton todiv
with prices Irregular on the basis of .in
advance of 10 p(,lnlH for ,llUi,ill)K ilt
9.03d Tho sales were 3000 bales The
ceWnn wem lt,(i(u, bules, luelutliiiK
12,300 bales Aiiieiua,, Kulures wciv
steady In the mi ly dealing.- Spot prices
werci. ArrierlP.iii. in.ddllii fa.r, 14 03d.
good mlddluiK. 1 1 ; , : fiy middling
10B3(l. innicllin).' 'j 53d . low middllm-
tfood oldlnnrv. 1; IK.I ,,1,11,, ,...
5.t3d "
ixi)i;i'i:m)i:nt oils
Allied Oil . ...
Hoono Oil .
Kiinlol- WyunilllK
I arlli Hjinl . . ,
Cities .servile ! nfn
colun-lilu bynd . . .
I'usnlni Pet
Ditiny Oil '
L.IK ilatln Iei ....
LnKlnoem I'eirol
Kedorsl Oil
Uienroclt oil
Uultey (Jlhetiple
tludson oil
int t'etiol
tevlngstoii
.viurHculUo Oil
Merrltt Oil
Wcxico nil '
Soilli Amer Oil '. ' '
Noliln
oinur oil . ., ....!!!
Producer & HellnHis ....
Ited itock Oil
ityuti cons '.
rtuuins 1'ei
ttlioliy Oil . . . ' ' '
Texoi . , . .,,.;...
I 11 Texas Oil I
ictorm oil nun
Vului-.li Oil
MINIMI
Alaska llrtl Columbia .. .
Atiitntii .
lllir l.cdKi w, ....'
UOutll . . ?
lloaion i .Mom
.mudoniH .MinliiK
.alurnn . Jerome '.
Oindeiiirla .Mia
Ciirif alii
Cresion Hold
LieAcent JiitcNhimira ....
I.I .sanuiiur
i'.ureku ( roemin
Ooiil 1 orj
Unld fjevel
luildflelil Kloimie . .
Uold Ktiwumti,
Ooid .Siiiur Jnk
Oold Kone
Oieat llend
Hstla .Mimni;
Jumbo i.xleriuIou
Knox iJlvlue
l.ouialanu I o
Miic.S'iinuiru
MurHli .uitilnic
MHSlin VlllleN
.Mother l.ode new
S'lplssh.
Norih .star
Itm erde
Hex (. ona .
Uoihinter .Milieu
.sun luj
Mllner Klin; Jxlde
.stand Silver i.eud
HuiresH .Mining
Tonopah llelmont
Tonopnh Cnsh Hoy
lonopnh DivIiIb
'I'nnopiili --.xteii
TonoprthJini butler . ...
'lonupali Mldwuy
TuiaiphI, Mlnlnu
Tiinoputi .Mlzpan
Tonup.ih Montana
lnnupjh llt-ncue i;ulu ...
Vlctoi v . .
Went Knd Conn
While Caps
Wllbert
1I()M)8
Allien rue;. ere in
Amer Tel 1J3, 1112
Anac-omli im
Anarondu, 7. lU'.'U
AllBlo-Amer Oil 7'4n . . .
Armour "s
llelli Hleel 7. 1U3S . ..
Cons Ua S ....
UeiMrul Asjihult h .
Heinz Co fj . .
.Slit lyuithor Ss . .
New llavui la
Se.iboard iln
."eiirs Itoeliui k 7. Ml-'l
iSnura lloebuok 7 1U22
Hours Hoebuck 7. 1II2H
Him lair Pin
Holn hi
Stand Oil cr Calif 7s
Stand Oil of .S Y 7 1H25
III IS in
l' l' P
.m .; .(
' I'-a V,
-l4 2K-H L'H'a
II" !'. Ill,
I4" l" 1
s s s
.' p. p..
z ...$ ;'.,
if' !?' &
II 11 11
J, 19. 19.
1 -"4 1 1 ,
i?4 '
-'' 2J, 2,
I is -IN )
' '
HI IDS J0"i
-y 74 vi
i
4
IS
llj
'
1
11
7 -Si
I
'l'
IS
17
111
IV
N
li
"l
A
U
P.
I"
17
l.'l
IS
s
11
Ul
4
1
I
111
III
41
II
I
'1
I
I
7
I
&
7',
4
P.
4
4"
r
IS
17
l.'l
IS
s.
II
21
I
I
THE stenographer of a
lawyer, who is now a
Philadelphia Judge, was
injured on the railroad. His
employer obtained for the
young man, as the result of
a suit for damages, $15,000.
But the Judge has said
since, that the money sud
denly put into the hands of
his crippled stenographer
proved worse than useless.
It led to extravagances
which speedily ended in a
second accident and death.
A parent has done only
half his duty to his family
when he bequeaths what
appears to be a compe
tence. The other half is to
see that his property,
whether large or small, is
protected for all time.
He can be certain that it
will neither be frittered
away by sheer waste nor
lost through ignorance of
investments, if he will en
trust the care of his estate
to the
Trust Department
of the
I Corn Exchange National Bank I
Philadelphia
CHESTNUT at SECOND
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Today's Range In Liberty Bonds
11 u
Liberty .'Pjs . .
Libert) :d Is . .
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Liberty I'd -l'.s
Liberty .'ill 4 1 s
Libert) 1th 1'is
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Vlc'ty Notes ,'I-'I.n.!III.,I
Vic'ty Notes -ls )MI.."I)
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DIVIDENDS DECLARED
Hrown Shoe i a
nrefurrfit t,4iali.
record January 20
risn
on Cell,
both p
lanuary an
Inc quarterly II 7
Kfbiuary I iu ,, k
i i,od t nrs'orat en O'urlpriv 5
mnn and lJ rr rrn' o-. prfi.rrni
ivaldn Kehfifary I 10 Hmh pf roor
d Join, Corporation
rr cen 1 nn prefurrsd. ipsysui
K 01 rerora January v,
I'M 111 p- Jnnss Corporation nijsrlerly IS
r (.rill ! nirinii stu, vaiauii rr
.10. mllrd, sheep. iSSOOO. siock.
Kobruary 1 to
Utility Co. Cuts Dividend
New Vork. Ian C Atliorlcan L'Rhl
and Ti.it 1 Ion has declared a (iiiaileilv
dividend of I per tent In lush and
1 per cent In stock on the common
Mock Pi ev lout quarterly pa)inent
was 1 per cent in cash und Hi pei
cent In slock Krom 1910 until Julv.
ifl:o. the dividend iato on the common
slock was 10 per cent In cash and 1ft
per cent in stock unnunlly Tho i.it
was reduced last July by the declaration
of a (piarterlv dividend of 11, per cent
In cash and 1 , per cent In stock. Tho
regular (piarterlv dividend of 1 is pp'
cent on the preferrod nock was declared
All dividends ale payable February I 10
stock of leenrd January II.
Bond Men's Club Luncheon
Tho flmid Men's Club, of Philadelphia
will open its new year meetings with a
luncheon on Tuesday, January 11 ni
the Hotel Walton at 12 30 p m The
sneaker will be Carlos c HoukIuoii, 0
New Vork. assistant secretary of Poor's
Manuul PubllKhlnK Co., and his topic
will )s "I he. Sources of Information
It will Include n general discussion of
organization and conduct of the statis
tical dcpaitment
BAR SILVER
lnd"yratVd?8 '" h'Bher ,a '-,,,,on
"Thm Cuarantmm it
the Bank for me." a
Guarantee
Trust and Safe Deposit Company
STATEMENT AT CLOSE OF BUSINESS DECEMBER 31, 1920
ASSETS
Cash on Hand and Deposited with Banks
and Bankers $1,408,094.8
Municipal Bonds 200,000.00
Call Loans upon Collateral 4,186,092.1 1
Time Loans upon Collateral 1,128,236.112
Commercial Paper and Acceptances, etc. .. 308,541.8ft
Stocks and Bonds 2,650.120.40
Mortgages and Mandamuses ' 358,412.9!)
Kcal Estdtc, 316-318-320 Chestnut St. and
9 S. 52d St 373,000.00
Vaults nnd Equipment 100,000.00
Other Real Estate 24,948.90
Miscellaneous Assets ,106.206.16
Accrued Interest 97,570.1 1
$11,241,223.70
LIABILITIES
Capital Sfoclc $1,000,000.00
Surplus 400.000.00
Undivided Profits 256,859.12
neservc to Cover Dcpi relation in Securities 74,133.69
Ronds Borrowed from -Customers 220.800.00
Deposits 8,682,609.72
Interest Payable to Depositors 69,620.82
Liberty Loans Redisrounted
.Miscellaneous Liabilities . . .
500,000.00
28,200.05
$11,241,223.70
Trust Funds and Investments which are kept entirely
separate and apart from the assets of the
Company $20,549,000.78
""""'vM? "K""vTJ .Mr AU ,,n"A?rnM&,v,,,,
316-318-320 Chestnut St. 1415 Chestnut St.
9 South S2d Street
A 7cl Mortgage Bond
Convertible To Yield 8.25
We offer an obliga
tion secured on ten
modern manufactur
ing plants of a com
pany which is the
largest of its kind in
the United States.
Earnings for the past
year six times inter
est charges and in
creasing month by
month. Convertible
after April 1. 1922,
throughout the life
of the bond.
II rile for Circular w'0.
Hemphill, Noyes 3& Co.
Afombora ,Vw York Stock Eiclianto
Franklin Bk. Bldg., Philadelphia
New York Boston Saanton
Buffalo Albany Syracuae Baltimore
gaiiBiirao
SUCCESSFUL manu
facturer and busi
ness executive, having
sold his business at
beginning of the war,
desires to secure in
terest in n concern re-
g quiring financial and
1 1 executive assistance.
!a Answers strictly confi-
S "dential.
B-822, Ledger Office. I
rmmumiurMjmmmmmgiw
gii
GEO. A. HUHN & SONS
HlOrlCH AM WINDS
Member of lh I'lilUdrlpliln. Nn
link and Cblrnso Nlnrlc Ktrhanrri
Nmt York Ooltnii Kselmpia
Commission Ordars Cxtcutad la
All ths Principal Markets
' HIII.I'KVlir. COUItT III. On.
I) IS Walnut St.
new viiiiK nrrirK
111 llroadnar, New York
Wntmrltit. ( i1ir iI1 JO VnrMirn VN ?':
".""-.. .? ?". "!. ."."'" ai. tl-I
Cortland It., I.tslit I'crarr Kef.
I'ortl ind Uuliwv Co. Hrf. .
Cinulre 0s li rnrl Coniuuny.
l'lilln. ti OarrclUford Ht. Itnlliru.'
Stockwell, Wilson & LInvill
Certified Public Accountanta
Und TiUe Bids., Philadelphia
I'hllu., W'lliiilnslon A llolllmorn
Htand.ird (ill of .New irk
I'riiiihrlvann Comunny
lli-.ls t". Kllburn (tmpsii)
Crew l.evlrk Company
f orr Hhoala I'swer Companj
VlralnH Ilatln nr I'ow.r Co,
H. H. While Dentil .Mfx. Co,
Comities (las A Klrcttlo fa
I'llllolflpliU Itapfd Trsnel) ('.
XI. Clilr Count Oaa K Kief, f n
I.eliUh Powfr Xjr-irl'l'l Cnrp
Wfs'rn V" Yp'k A I'fnna, Trjr
l.nipue wnnpi enmnanr
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WAMUEL K. PHILLIFS & CG
Mrmbera ritllielija KlneV, KuhJK1
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