JV' '4 ,r :! EVENING Wblio MDGfEtaLAMHiA, TtbA, $M; K tw$ 20 1!, n ili? fin NORTHSvWsTERN BELL TELEPHONE tiOMPANt Fint Mortgage 20-Year 7 Bonds l Doe February 1, 1041 Thfs company is n subsidiary of, tho American Telophono & Telegraph Co. It constitutes the Bell System operating company in the states of Iowa, Nebraska, Minnesota, South Dakota and North Dakota. These bonds at their present market price yjold about 7.25. Wo will be .glad to receive your order at the market C'orretpondenc Solicited Litt of Selected Bond mailed on Ttquttt STROUD & CO. Member! FMtaditpMa 8totk Urcfuinee 1429 Walnut St., Philadelphia 52 Broadway, New York Correpondent STROUD, KURTZ & Co., Inc. Waihington, D. C. SB HANDLED ROUGHLY AGAIN Further Rapid Upbidding of Prices Invited Hoavy Realizing of Profits Your First Step in tho Stock Market How to open an account Method ot trading Carrying stocks on account We here prepared a new booklet peelally for the newcomer In he market, end It U written In a styU thit makes slock market problem! readily understood. Write lee N-10, GUTHRIE & McGOVERN Members rhlle. SlutU Exrbante 1130 Booth Penn Bq.. ThlU. flomce 6418 Rue SOM New Tork 32 Droadww City of Toronto 5 Bonds Due June 1, 1925 Principal and Interest nay. able In Gold In New York Toronto is the capital of the Province of Ontario and is one of the most important commercial and banking centers in Canada. Price 90.60 and interest yielding 7.50 (Payment In United States Funds) Write for Circular P-11S Wood, Gundy & Co. Inrorporatfd 14 Wall Street, New York Toronto Winnipeg London, Eng Montrral Tax Exempt in Penna. BELL TELEPHONE CO. of PENNA. 25-Year First and Refunding Mortgage 7s Particulars on Application A. B. Leach & Co., Inc. Investment pruriflex 115 South Fourth St. Veil Telephone Lombard 147 New Yorit, Jan. 11. Matters wro a sain made very unonnfortnblc for the nhorts in the Industrial specialties in the first half of today's stock market. Taking the cue from the successful drive In Crucible Steel yesterday, the Kerens were applied with little mercy In most nil the recognized pool Issues. There was a further Jacking up of prlcrs anywhere from two to over six noints, with the maximum guin scored by Crucible, In which stock the shorts were forced to play a premium of fti pr rent, or ?7t tor every ntintirca shares. Within the first fifteen minutes of the trading Crucible rose to par. Thi gain was extended to fl',4 points before the end of the first hour. At the same time Vanadium Steel, Hepubllc Iron ind Steel, SlonK Sheffield and Ronloglc rose 2 to iht points. Baldwin Loco motive iirnl tiromlnent oils and motors tdvaneed to i'-j points. In other words hlngs were kept humming as long as the short were kept on the run, but as soon as the demand from this quarter ihowed sl,;ns of slackenitv; the whole '1st began to wobble, disclosing on otherwise very limited bujlng power. Ye.t If all the reports circulated were accepted one would have been left to believe the market was enjoying the very bedt kind of buying. As a matter of fact the more con servative market interest looked upon th concerted action against the over extended shorts ns Ill-advised nnd ill timed. On all sides the rapid upraark ing of the industrial specialties was regarded ns too precipitous for the health of the market. Especially in hat It was generally recognized the dcmonstiHtion wan not based upon any great change in the industrial situa tion, but based solely on a technical state of the market, hi some quarters the movement was openly condemned, because it was felt that in driving the shorts to covpr the market had been deprived of im Important und powerful underlying support In the sleeping short Interest. In other words the cushion which had protected the general list had been eliminated in the rounding up of the overzealous interest. The artificial character of the forced upward swing was revealed before midday when active realizing for profits cautied a quick cancellation of the earlier improvement. The mar ket, however, instead of weakening, became dull and narrow. In the mean time, apart from the industrial spe cialties, the greater part of the list ihowcd a tendency to mark time. Ex ceptions were found in few stocks, such an Chicago Pneumatic Tool, Utah Cop ier and Endlcott-Johnson. Hails made 'ittle progress In cither direction, al hough I'nlon Pacific showed compara tive heaviness. The foreign exchange market con tinued to supply intcre-diug develop ments, with the London demand bills making a new top at 3.7C)i. Call re newal rate was stain fixed at 7 ncr cent, there evidently being little of the u per cent money offered in the late trading yesterday nfter most of the day's financial requirements hud been ar ranged. It was reported time offerings were fairly liberal, but those who hnd occasion to seek these accommodations failed to find such a happy condition. STRONGER TONE TO THE LOCAL MARKET Most of Leading Shares Scored Further Substantial Frac tional Recoveries The local market maintained n fairly strong tone and most of the local shares of nuy prominence scored further sub stantial fractional gains. The volume of businehS, while again light, was somewhat broader than in the immediate preceding sessions. About them ost noticeable develop mentw as the quickening of the trading in Philadelphia Rapid Transit, which erosked 17 again. At the same time United Gas Improvement wns in better inquiry, recording n gain of V point at 31. Philadelphia EleetriV issues in the meantime held ground well. I'nion Traction, on the other hand, shaded fractional!;.. Klertrle Storage Battery remained the stellar attraction of the miscellaneous list with a further jeeover) to lis. pine, lug the stock almost 20 points ubcnr tho record low level In December. Gen eral Asphalt following the movimcnt in New York moved up to 5b. Lake Su perior received scant attention but held at . Among the inactive issues Philadelphia and Western preferred was un " points from the previous sale at 27. An Experienced Bond Man wanted by an investment house huvlnR offices in many of the principal cities in this country and handling a large and diversified list of con servative investment securi ties. A particularly good opening for the man who can qualify. In reply please give complete details, which will be treated in confidence. Address C 208, Ledger Office New leeue Northwestern Bell Telephone Co. lot Mortgage 7a, 1941 About 97 and Interest Edward Lowber Stokes 20 S. 15th Street l-ocut 344 Philadelphia Stocks High 20 Am Sires 45 s 100 Am Uwys pref ... 17 400 Hlw Stor ns 10 (Jen Asph pref.... .IS 20 Hun & II Top pf 10 2h.- I To N A 2!H, 100 Lake Sup OH ,'IOLeh Nov.. OS 1 18 I.eh Vnl . 534 lOtMidvale. 325'h ASH Pa R R.. 41 2." Phiia Co. nn IK.") Phila Eleo 22i 117 do pref. 27 Vs 1050 Phila It T 17 U 20 PhilaTrac 5U 15 Phila &W pref ... 27 lOOtRendlng. Ml, 110 I'n Trac. 21) 30.-1 VOL.. Ill Vi Low 15 17 P7 113 P, m Net chir 15 Vm ' 17 1)8 58 58 1 10 20 IHi 08 W 1 ili)'! iKI'A, 32- 32 JK'S 41.. :i5 35 i o'"'. 271,4 27&!. 17 17V4 53 53 . . 10 f-lVi 2111,, M O'i OS .. fi5V. . . M-y, 20 31 27 5 84.. 2fltf V4 3111 (i f.NVt chang; made by comparison with last nale on rsew xorK Mnrn K,xrnans; I10M8 lllih Low 70 70 1 IS p m. Net Chsn, , Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS ltSO nKAL F.&TATK TltL'HT 1ILDO investigate and adjust imrtnrmUlp uud nctno Tat Bet urns. Salfti In 100() 1 Am Cits & i;'cc os. . . m i" iw -t- v 12 Hell Tel 7s.l01 101 iuri 8 1-5 I. ib Bonds 3d l'is.. 00.50 00.34 00.5O. It 21 17-20 4th4VtK87.CO 87.3(1 87.50.24 3 3-10 Vie 4948. U7.H H7.1H U7.1H.U1 1 Philu Klec 1st 5s.... S3K 83?1 83 Liverpool Cotton Liverpool, Jan. 11 More business was done In upot cotton today with prices steady on the basis of an advance i) 12 pointy for middling at 10 "8d. The sales wem 5000 baleH Tho receipts wert 14,000 bales, including IS. 900 bales American. Futures were firm In the nrly dealings. 3pot prices were American, middling fair, 15 28d; Rood middling, 1S.78U ; fully middling, W.78d; middling, 10 78d; low middling-, 9.03d; ood ordinary, 7.63d, and ordinary, 6 78d. BAR SILVER Bar Silver was & lower In London today at 30 Hid. NEW YORK STOCK EXCHANGE TRANSACTIOKS Dlv. In I ' lith .. Advanco Rumsly , ... 1J4 Advanco Rumely pf. . '1 ,. Air Iteductlon SSVa 4 AJax Itubber ........ 31 .. Alaska Juneau O M.. 1)4 .. Alaska Gold Mines .. 1 .. Allied Chem & Dye.,. ' .. Allied Chem & Dyo pf SIJ 4 Allls-Chalmers 3iH Am Agrrlo Chem 0 4 Am Bank Koto 47 3 Am Bank N'ote pf.. 43J4 8 Am Heet Sugar 47K 10 Am Hosch Magneto.. 7 4 Am B Shoo Kdy now SO .. Am Can tV 7 Am Can pf 8H 13 Am Car & Fdy iJ8H .. Am Cotton Oil 2tH 80 Am Drug Syn 8H 0 Am express ,..HS .. Am Hldo & Leather.. 11 7 Am Hide & Leath pt at .. Am Intemat Corp... 48 8 Am Linseed 8SV4 fl Am Locomotlvo 8814 .. Am Safety Razor.... 0J4 .. Am Ship & Com 11H 4 Am Smelt b net 3Kj 7 Am Smelt & lief pt . 80 14 6 Am Smolt Sec A 84 a Am Steel Foundries.. 3154 7 Am Sugar Ref....... 84 Ji 10 Am Sumatra Tob 81 8 Am Tel & Tel H 12 Am Tobacco 18i4 0 Am Tobacco pf now.. 91 13 Am Tobacco B 114 7 Am Woolen 71 7 Am Woolen pf 5s .. Am Writing Paper pf 3714 .. Am Zlno Lead & Smlt !4 .. Anaconda Copper .... 38K .. Assets Realization .. 3 4 Asso Dry Goods 2714 8 Asso Dry Goods 1st pf S7J4 7 Asso Dry Goods 2d pf48 s Atcli Top & Santa Ko 84 7 Atlantic Coast Lino.. 88 . . Atlanta Blr & Atlantic 6J4 .. Atlantic Fruit 8' 10 All Gulf iWISS.. 7114 6 Atl Gulf W I S 8 pf 41W .. Austin Nicholas .... 13 7 Baldwin Locomotive . 13 .. Baltimore & Ohio.,... 3714 4 Baltimore & Ohio pt.. 8334 8 Barnctt Leather pf... 80 .. Bethlehem Motors ... t o Bethlohcm Steel 48tt a Bethlehem Steel B.... C0J4 7 Bethlehem Steel 7.. 934 8 Bethlehem Steel S pf04 .. Booth Fisheries ..... 514 .. Brklyn Rapid Transit 1154 .. Bruns Term flVa 10 Burns Bros 8334 .. Butte Copper & Zlno.. Sfri .. Butto & Superior Cop 13V .. Butterlck l54 .. Caddo Central O & R li'A 0 California Packing .. 84J4 .. California Petroleum . 31 4 ralumet & Arizona... 48 2 Cal Zlno & Lead 7 10 Canadian Paclno . ...119Vi .. Case J 1 754 .. Central Leather 4134 4 Cerro do Pasco Cop... 31V4 10 Chandler Motors 7254 4 Chesapeake & Ohio... fllli .. Chicago &. Great West 854 . . Chicago & Gt West pf 20Va .. Chicago Mil & St P.. . 30J4 . . Chicago Mil & St P pf 46' s Chicago Northwestern 76 7 Chi & Northwestern pfllO 8 Chi Pneumatic Tool.. 70' . . Chlcaso R I & Pac. . . 2H 6 Chi n I & Pac 6 pf 63 7 Chi R I & Pac 7 pf 75 .. Chile ConDer llli 2S0O l.so Chlno Coppor n dales 400 200 200 SOO 200 (00 4800 200 800 MO 100 100 1100 600 300 7000 100 200 800 400 300 700 1800 lieoo 200 3700 1300 moo 1300 200 400 800 2100 2300 1100 1300 100 700 13200 200 100 100 2C00 10O 400 100 200 100 100 330 100 23700 300 100 29100 3200 200 100 300 100 18300 200 100 300 200 890 109 300 190 200 .100 29t0 2330 100 300 8100 1)0 6700 13)0 8890 700 300 700 1200 2000 GOO 100 300 900 300 200 2800 200 1300 400 200 2700 800 400 20o 50(1 100 3110 2209 400 2 8700 2300 100 4800 100 200 300 6809 100 2000 800 3000 000 200 8400 1100 990 17G0O SOO too 1309 23J0 0299 000 109 ,400 109 800 1000 300 300 200 800 1390 100 200 1200 700 100 203 200 500 4000 H500 1200 500 2800 213Q 1390 1000 4600 200 100 400 (100 2000 2000 Clev Cln Chi & St L.. 40 .. Coca-Cola 2434 3 Colorado Fuel & Iron 3054 fi Columb Gas & Klec... 8854 1 Col Graphophone .... 12 J4 7 Consolidated Cigar .. 884 7 Consolidated Gas .... 81 3 Consolidated Textiles. 2034 7 Contlntntat Can 63 7 Continental Can pf.. 9o'v . . continental Candy 4 Corn Products Ref. ,80 Cosden & Co 8 Crucible Steel . i Cuban Cane Sugar. , 34 . 71 . 3234 .10434 "ia 7 Cuban Cane Sugar pf 04 7 Cuban Amer Sugar.. 29J4 7 Cuban Amer Sugar pf 9355 .. Denver & Rio Grando 134 .. Denver 4 Rio Gr pf.. 254 fi Endlcott-Johnson .... 62' 7 Endlcott-Johnson pf . . 0354 Erie 14H .. Erlo 1st pf 2134 8 Famous Players L. . . 65 8 Famous Players pf. .. 61 Tj 10 Fisher Body 80 .. Flsk Rubber 15H .. Freeport Texas 18Jj .. Gaston Wms & Wig.. .. General Asphalt .... 59 .. General Asphalt pf ..101' 0 General Cigar 00 8 General Electric 12154 .. General Electric rts.. 4' 1 General Motors 10' 0 Gen Motors deb &.. 68V 7 Gen Motors deb 7.. 77 J4 0 Goodrich B F 4454 7 Goodrich B F pf 70 .. Gray & Davis 1354 7 Great Northern pf... 78 4 Great Nor Ore ctfs... 20J4 .. Gulf Stale Steel a34 .. Hendeo ctTa 1055 .. Houston Oil 72ft 1 Hupp Motor Car.... 1354 3 Hydraulic Steel 2054 7 Illinois Central HS'A .. Inspiration Con Cop .. 36V .. lnterb Con Corp 4 .. lnterb Con Corp pf. . 11 .. Intemat Agrlcul .... 1334 5 Int Agrlcul Corp pf.. 5054 7 Intl Harvester new. . . 0034 .. Inter Mer Marine.... 10 H 0 Int Mer Marine pf .. 0134 .. Intemat Motortruck 3UJ4 7 Int Motortruck 1st pf 7354 .. International Nickel . 1534 .. International Paper . 55 Vs .. Invlnclblo Oil Corp.. 24 3 ..Iron Products 40 .. Island OH 434 . . Jewel Tea 3 .. Jewel Tea pf 14 .. Kan City Southern .. 2054 4 Kelly-Hpnngneid Tire 4054 2 Kennecott Copper .... 2034 .. Keystone T &. R 1234 Low 18 81 34J4 38 114 1 48 8(U 34J4 8314 47 43J.4 4054 86V 4854 1734 H454 126 22J4 74 134 1034 1 46 85 8154 0 V 1034 39 8054 63 31 93 H 7954 9934 11754 91' H4J4 6954 9534 374 054 38 3 27K 8754 48 81 80 054 854 0834 4114 13 91 H 3034 8.1 80 434 8834 89V 03 101 854 11V 414 8334 SJ4 1351 1854 1434 02 30 48 0 118 754 4054 3054 71 01 8J4 20 30 48J4 69 110 68 2734 8134 78 1154 23 45 24 54 3054 58V 12 67 8034 2034 00 0V 434 7054 33 07 2334 64 28V4 0354 IV 354 0' 0354 4 54 21 83 80 60 4J4 854 334 54 06 60 131V 4 1654 7J4 77J4 354 79 1234 7034 U9J4 i4 1954 7034 1.1 34 2054 88' 3SV 4 V 11 1334 85 05 54 14 8734 3854 78 1834 54 V 2354 38 4 4J4 14 20 48 20 H 1154 1 IV 1 14 lit H It 14 14 V 14 li30 Net Last Clure. 11 14 fl - 35V -38 - 114 1 - 48W 89V -3434 C3H- 47 4354 46J4 S9V 114 84J4 14 12H- 14 2314 V 814 14 125 1 1934 .. 83 V 18 114 88 8434- V 934 14 1174 1H 39 - y, 8014 14 C4 31V U 94H 174 80 V V 9914 14 11854 154 oiv IV 1114- V 70-34 9534 3714 954 3814 3 2774 8714 48V 84 -86 014- 8H- 71V 4V 4114 14 13 83 1H 3634- 14 8314- 14 80 434 V. '8H 234 80 ,. 83 V- S 104 S14 UV4 . 14 8334 !4 13V 1814 IS 8314 30 48 - 874- 11874 714 1 3074 71 - 61 - 814- 20 30 T4- 79 110 2 14 14 V 34 34 74 114 H 14 70' 5'4 0 2734- 63 75 I1K 23V 46 814 114 8034 54 2034 .. 833 90 V -1134 34- 14 71 - V 3234 V 10434 774 2334- H 64 14 3834 14 9314- 14 34 14 314 .. 0114 134 9354 1414 .. 2134 -80 1514 8814 274 101V 6V 601 1134 1 - 16 88V 7774 4814 79 1314 34 1814 V Va il -1334 T4 .. 96 1034 134 0134 334 3074 74 73 1314 .. 8874 2314- 40 434 74- 34 14 2014 .. 4054 17i 2034 V "14- 34 M Mi "v 174 14 34 34 14 IS "?4 14 14 '94 54 1 34 7J 34 134 Dlv. ... .. Bales Int , lllgh 2790 a Lackawanna Sleet ...'8814, 104 .. Laka Erie A West... 14 400 8,80 Lehigh Valley 8514 19 7 Liggett ft Myers pt. . . 108 790 1 Loewe Co ........... 18V 800 . . Loft Corp 1114 ' 190 .. Loose-Wiles Biscuit . 33 100 7 Loulsyllle & NashvlllelOJH 10O 7 Malllnson & Co pf..,. ( 309 10 Manatl Sugar .'' 79 890 7 Manhattan Kiev ;uar 1J4 700 . -Maxwell MOtot 714 100 . . Maxwell Motor 1st pf . 11 400 .. Maxwell Motor ctfs .. 3)4 400 . . Max Mot 1st pf ct tta 834 400 8 May Dvpt Stores 70 28800 13 Mexcan Petroleum ...162 100 8 Mexican Petroloum pf 94 400 2 Miami Copper 19 7000 1,60 Middle States Corp .. 134 3800 . . Middle States Oil rts 34 1200 2 Mldvalo Steel ft Ord ..3174 800 .. Minn ft St Louis 13 190 7 Minn St P & St B M. . 73 199 7 Minn St P ft S 8t M pf 91 700 .. M6 Kansas ft Texas.. 234 10O .. Mo Kansas ft Texas pf 834 800 .. Missouri Paclflo '.... 2034 1090 ., Missouri Paclflo pf... 4114 100 .. Montgomery Word .. 1834 190 4 Mulllns Body 28V 100 8.80 National Acme 2014 200 7 National Biscuit ....103 10O .. Nat Cloak ft Suit.... 32 400 .. National con ft Cablo 474 200 e National Lead 73 100 7 Nattlonal Lead pf....l05 300 . . Nat R R of Mex 3d pf 474 800 .. Nov Con Copper 11 2390 e N O Texas & Mex.... 8814 890 10 New York Air Brake 80 boo b New York Centra ... 74 10O 2.60 New York Dock zoo 3500 190 3000 1800 1000 100 200 500 500 400 7800 300' 1000 10800 loo 300 1100 300 SOO SOO 1400 200 1000 3o9 100 3800 800 1000 7000 200 800 2300 29000 100 100 290 2374 8 New York Dock pf... 4434 . New York N H ft 1L. 2114 6 North American .... 85 7 Northern Pacific B6V 0 Nova Scotia 8 ft C... 88 40 Okla Prod ft Rof 334 .. Ontario Silver Mining 5' 2 Orpheum Circuit .... 2734 .. Otis Steel 1574 3 Owens Bottling Mach. 53 .. Paclflo Oil wl 3714 Pan-Amer Petrol .... 7814 0 Pah-Amer B 71 8 Pennsylvania R R.... 4134 .. Penn Seaboard Steel.. 14V .. Peoples Gas Chicago.. 36 .. PCrq Marquette. 1034 3 Philadelphia Co 3514 .. Phillips Pet 3014 .. Plerco-Arrow Motor . 2734 8 Plerce-Arrow pf 74 34 .. Pierce Oil 1174 8 Flerco Oil pf 7714 .. Pittsburgh ft W Va.. 3114 8 Pressed Steel Car.... 87 8 Pullman 10734 8 Punta. Alegro Sugar.. 8154 4 Pure Oil 3374 1 Ray Con Copper 1334 4 Reading 84 2 Reading 2d pf 8474 .. Remington Typewriter 14 . . Repto Steel 99 6 Republic Iron ft Steel 7114 7 Republic Iron & Stl pt 94 .. Republic Motortruck . 2114 Robert Ret 10 3000 S.to Royal Dutch NY 89J4 100 1 St Joseph Load 1334 1000 .. St Louis San Fran... 2334 600 . . St Loulo San Fran pf 33' GOO .. St Louis Southwest... 2014 800 . . St Louis Southwest pf 3714 109 .. Savage Arms 2334 1100 .. Saxon Motor 834 200 ,. Seaboard Air Line.... 874 300 .. Seaboard Air Line pf. 12 8800 8 Sears-Roebuck 93 190 7 Sears-Roebuck pf ....100' 3000 . . Seneca Cop Corp. . . . 20' 300 . , Shattuck Arizona Corp 0' 000 .74 Shell Transport 48 14200 .. Sinclair OH 2834 400 6 Sloss-Shcff 8314 6309 a Southern Paclflo 100' 8590 .. Southern Paclflo rts.. 2234 3800 .. Southern Rail 2314 20o fi Southern Rail pf. ... 89 100 20 Standard Oil of N J.. 16254 300 7 Stand OH of N J pf..l08 200, 7 Stcol Tube pf 80V 4800 2 Stromberg Carburetor 42 1620o 7 Studebaker 86'A 700 . . Submarine Boat Corp 034 lOOo 2 Superior Oil Corp.... lc 100 e Superior Steel 46 109 .. Tenn Cop ft Chem... 874 3900 3 Texas Co 48 300 .. Texas Co. Warrants.. 43 4300 .. Tcxsb ft Pacific 2154 3.00 1 Texas ft Pac C ft O.. 3034 2q0 2.60 Times Square Supply. 12 Tldowater Oil rts.... 12 7 Tobacco Products ,.. 6674 7 Tobacco Products pf . 86 . Tol St L ft West ctfs 10 . Transcontinental Oil . 12 4 United Alloy Steel.. .. 32 O United Cigar Stores.. 148 8 United DrUK 9654 100 3. SO United ETug 1st pf... 4434 600 12 United Fruit 200V4 Unit Rwy Invest pf .... 2114 ., Union Oil 24 10 Union Paclflo 12174 8 United Retail Stores.. 8734 ..US Food Products.. 2474 8 U 8 Ind Alcohol 7134 ..US Realty ft Imp... 45J4 BUS Rubber 7074 8 U 8 Rubber 1st pf. ..10334 e U K Hmelt ft Ref.... 3434 S U S Steel 84V 7 U H Steel pf 109V 0 Utah Copper 66 4 Vanadium Corp 4034 4 Va-Carollno. Chem .. 4214 a Va-Car Chem pf 8734 e Va Iron Coal ft Coke 87 1 Vlvadou Ino 8 .. Wabaah 814 .. Wabash pf A 23 . . Wabash pf B 18 .. Weber ft Hellbroner. . 13 .. Wells Fargo Express. 01V .. West Maryland 2d pf 1874 .. Western Paclflo 2.4 7 Wetem Union Tel... 87J4 4 Westlnghouao E ft M 48 . . Wheeling ft L E 10 4 Whlto Motor 4934 .. White Oil Corp 17 4 Wick Spenc Steel Corp 1814 1 Wlllys-Overland 9 . Wlllys-Overland pf . . 36 n Wlleon ft Co 48 s Woolworth F W 11254 l Worthlngton Pump .. 4734 0 Worth Pump pf B... 01V 900 2100 100 too 7800 000 100 300 400 I60O 1200 3100 2800 3800 190 1080O 100 400 21700 300 2300 11600 1300 00 0 200 790 400 400 loo 2200 1200 1200 89(1 200 200 400 1100 1100 200 600(1 200 500 100 1290 100 "Low' 6 1 3434 183 1734 12 S3 10134 SO 78 SO 0 14 78 188 34 19 14 K 32 V 3H 73 3 234 834 20 40 94 1934 28V 214 193 32 434 73 10s 434 1074 64 79 H 73V 2874 4434 2034 88 8414 3414 834 sv 2734 1H so 37 78 34 70 4134 13 36 1914 38 3054 28 94 78V 1114 7H 3014 8014 10734 49 3414 1334 8374 4414 31 3814 68 94 2114 8734 1134 23 54 33 2914 3714 28 34 414 74 12 88 199' 134 e 44V 2434 8414 9994 1X 23 8834 16314 198 89 40 84' 9V 12J4 46 874 44 V 43 1934 2954 13 12 6514 86 19 1114 3114 118 on 1434 200 21V 2334 12034 80 V 24 8934 4674 0874 103J4 34 63 19914 34(4 3714 4 1' 0734 8034 734 814 2234 18 12 60 1814 27 54 8754 45 9K 40 18 34 18 V 834 .16 " 40 11294 4614 U1V U ta li0 Net Last Chsw. 8814 1 111 61J4- M 103 1 1734 .. 13 31 10334 H 9 U 74 1 4114 1H 7J4 111 11 194 314 314 76 163 94-1 18 14 "8 :: 174 H 1294 14 73 93 394-H- 20 - 41 1994 2814 2614 108 33 r.. 72 108 434- 10J4 64 - 89 73' 2374 334 8V 2734 1!4 42 37 -78'-7014- 4114 1334 30 1034 38 3014 37 V. ' 194 434 14 14 1 14 H V V 14 14 14 14 "v 3 74 114 V 14 34 7434 IK 1114- 7714- 30J4- 8814- 19794 3514 1334 31 -3814 70 8 68V 1234 2334 33V 2014 3714 3H 13 89 -100V 1934- 0V . 4434- 2434- 88 8954- 2134- 2314 59 . 16214 108 80 V 4034- 45V 9V- 1334 46 874 44 V - 43 1934- 30 12 13 5514 86 19 1114-3114- 148 21 9614 1 1434 200 31V 2334 12174- 8674 4874-0954-19334 34 84V 10954 84J4 28J4 234 IV IV X- 14 872 8-14 814 H 2234- 14 14 1 "74 134 01 1 1874 2734 8734 48 -10 -40 1034- 18Va- 874- 30 - 40 11254 154 1634 H oil V V 94 114 B V 94 14 V 2 1 H 2 14 14 34 14 34 14 14 2V "14 "' 34 3 14 1 14 .14 14 V V 14 34 74 J. I 34 94 94 14 74 3 1 "l4 14 "J! "14 94 14 34 14 34 34 14 '4 14 "34 314 14 13 1 Commodity Markets COTTON MARKET New York, Jan. 11. The cotton maiket was easier this morning as a result of poor cables, Southern selling und quite active profit-taking after recent big udvances. Some of the private Liverpool messages were dls tlntly unfavorable. In bplte of this, Liverpool concerns were among the best bujers, taking July mostlj. About twclvo notices were issued, causing rel ative weakness in January. First prices showed 22 to 55 points net decline, with January off most, followed by further lobset in other months, which at the end of the first twenty minutes were 25 to 37 points net lower. Receipts of cotton at tho ports for the day were estimated at 32,000 boles, aualust 34,050 hules a week ago; 30, 320 bales a year ago, and 31,102 bales two years ago. Previous rioso Open January JJ a March J 30 May 12J July October is sa 16 40 17 10 1.1 111 in 0: IS HI 1A 12 12.30 p m. 17 2S 1S.72 1B.7T IS 05 GRAIN MARKET Chicago, Jan. 11. There was a rush to buy wheat this morning ond the mar ket was stronger on continued gains In foreign exchange and reports that tho British commission had bought on over night offers. Long sold freely on- the rise, canning reactions from the top. A private cable reported that storms were damaging crops in Australia. March opened at Sl.ntt to $1.70, against $1.77 at the close yesterday nnd later sold at $1.7794. May started ut $l.QS to $1.00 ond loter sold at u net advance of 1 cent, at Sl.OOVi. 3orn wus Irregular with a moderate trade through commission houses. Re ceipt were again liberal and offset report of buying for export May opened at 749c to 74&c, aguinst 74c ot the close yesterday. July opened at 75 c and then bagged to jesterday's last price of 75c. Oats rallied on buylug by a cash house ond in sympathj with wheat, after an irregular start. Trade way smull. May opened at 48c to 48c, against 48 c at the end yesterday. July started c lower, ut 48c. Reserve Bank Surplus Strengthened After closing their books on December 31, and paying the accrued 6 per cent dividend, the Federal Reserve banks paid to the government a total of 160. 726,000 of franchise taxes, and Increased their surplus accounts by 137,291,000, the present surplus, 202,036 000, con stituting 101.2 per cent of the bapks total subscribed capital. Federal Re serve noU circulation shows a reduction of 174,700,000, all the reserve banks, except San Francisco, reporting smaller circulation ftirurea than the week before. There Is also shown a decline o 13,400,- 000 In the circulation or Federal Re serve Dank notes. Since December 23 of the last year, a reduction In the clrcu latlon of federal reserve notes and bonk notes of over 1140,000.000 took place, compared with a reduction of over 1146,000,000 during the corresponding period a year ago. As against the large decrease In circulation, gains of $20, 900,000 In gold and of 16,800,000 In other reserve cash, mainly silver, are noted, Financial Briefs REACTION OCCURS IN CURB SHARES Many Stocks In Supply at Con cessions Standard Oils Lower New York, Jan. 11. The reaction which occurred In tho stock exchacga after early advances had an Influence In causing a heavy tone on tho outside market, and many of tho stocks traded, In on tho Broad Street Curb were in supply at concessions. Independent oils, which showed a strong tone at the start, were offered in fairly large volume and generally snowca iracuonai tosses, luaracnnw, which was a strong feature in yester day's trading, opened at 16 and then dropped M. Mexico Oil was traded Jn at 154 nnd 11. With the Unusually large trading due to tho announcement of development work by a subsidiary of toe uuit uu uo. uyan uu snowea strength, selling at 13 Vi. Tho Carib group was heavy, Carib Syndicate falling from 0 to 0, and Carib Trading yielded from 40 to 33. Himms Petroleum, which opened at 8Vi, also sold off around midday. Interna tional Petroleum was fairly well held, although it reacted from 17 to 17.4. The 8t4ndard Oils were generally 1 to 3 points lower, but Anglo-American was in fair demand, ranging around 21. In the industrials, there were irregu' lar movements wjth a few issues making fractional advances. United Retail Candy and. Sweets C6. were practically unchanged In their trading position, being supported by In side buying. There was a moderate amount ot business In Inter Rubber. Mplsslng was the feature of tho mining group, advancing to 8. INDCSTBIALS 1:40 lllth Low p. in. Acme Coal 1 1 urn Amor too coup .... ia'4 12 13 Columbia Emerald 3H 0 3 Inter Rubber 714 7(J 71 Perfection Tire i 1A lj, rtadlo Com pref 23i Sweets CO 2 U 8 Hteam ll United Profit Sharing- .... 1J United Itet Candy si Wayrra Conl 2 U 8 Ship Corp l3l STANDARD OILS Ansto-Amer Oil 2114 31 South Penn Oil ...255 2BS Stand Oil ot Ind new.... 7214 73 Wand Oil of N Y 3.10 847 Vacuum Oil 80O 298 21 2n bSn INDKrEXDENT 6Ha Allen Oil ltt Allied Oil 17 1 Uoston Wyomlna ....... (I iariD ayna Carib Synd Trade ...... Cities Service "II" ctfs. Dennv Oil Klk Uaslrr Pet Stl Knimeera Petrol .... federal Oil Qlenrock Oil ........ Hudson Oil Int Petrol Maracalbo Oil Mexico Oil National Oil Omar Oil Producers & rteflnera Ited Rock Oil Kyan Cona Sapulpa Ref Himmo i-ei ou Un Texas Oil Woodburn 1H MININO Alaska Or Columbia U Atlanta 1 DUt Ledce rV Dooth. 4 llutte-New York 34 Caledonia Mitring 16 Candelarla Mining- 18 Cons Virginia S54 Cortez Silver OS Cresson Oold 1 Cresrent MacN'amara .... 14c El Salvador V4 Kurexa croesua 84 Eureka Holly 1(1 Hold Cms 7 old T)AvolODment 1 doldfleld Florence IB Oold Kewanas 3 Gold Silver Pick 0 Oold Zone S3 (Sreat Bend 1 Emma HI ver a Hecla Mining ', jumbo Extension 0 Knox Divide 10 MacNanrara lSe Jlagma copper suy Marsh Mining 8 Muson Va ley 1U Mother Lode BS Mother Lode new "V Nlplsslng A North Star 0 Ophlr Sliver t) Prince con ft ilex Cona n Rochester Mines 0 San Toy 0 Ha Am P & a 6K Stand Silver Lead A Success Mlrr 2 Tonopah nelmont lft Tonopah Cash Boy O Tonopah Divide 1A Tonopah Kxtenalon 1ft Tonopah-JIm Uutler 10 Tonopah Midway In Tonopah Mlipnh 8 Tonopah Montana S Toropah Rescue Eula .... S3 United Eastern 2 West End Cons 1 White Caps T Wllbert 2 IIONDH Allied packers As RT Amer Tel os, luzz !&. Amer Tel As. 1024 . Anaconda Cop 7a . . . Anglo-Amer 7Hs ... Armour 7n Ileth Steel 7a, 1935 . Can Nat riy 7s .... Cerro de Pasco Bj .. Cons Qas Hs D'nmond Match 7Via Oalena 7a Heinz Co 7s 00Vi . . . u ... 9S ...100J4 ... 07 ... 05 ...101 ...101 ... ouH ...101 ... sou WM no Ci9'4 04 The United States Treasury purchneed 650,000 ounces of silver, to be dellvored at 1'hlladolphla, and 41.000 ouncen to be delivered at Denver. The total silver purchased to date Is 31, COG, 000 ounces. The New York Federal Reserve Dank linn called on member banks of the dis trict for repayment of $0,000,000 United .States deposits today. The nverago prlco of twenty active In dustrial stocks advanced 1.20 por cent yestorday to 76.00. while the twenty railroads advanced 0.12 per cent, to 77.33. The annual report of tho American lee Co. for the year ended October 31. shows net Income, after charges and Federal taxes, of 3I.768.60B, equivalent. afl?,d.'kauc,li?n ot Preferred dividends, S 1 X . B a share earned on the 17,500, 020,$$mo?,Btocki" compare with net of 22,034,231, or 115.03 a share In the preceding year. BANK CLEARINGS Bank clearings today compared with eor. responding day last two years! 1D21 ion. .n.H Shll. ..l7J.71S.Ba2 188.100.484 l.lfl 17 ou OSton... B7.82U,04i 82.18488 BH BsS'VSi RAW 8UQAR MARKET QUIBT New York, Jan. 11 The raw suirar market continues quiet, but steady? on the basis of 4 cents, cost and l f?e Ittht equal tc 5.62 cents duty paid. The . on'v transac'lon announced yesterday was 'o lot of 000 bags of Cuba for cleTr?n2 about -unuary 20. at 4W cents; cost ami freight, to an operator. The local A. finea, Bjlgar market Is iwcainged I Kemiei-att 7 0214 Seaboard Os B4 Sears Roebuck 7s. 1922.. 9011 Neirs Roebuck 7s. 1023.. OflH Sinclair 7Hs . Solvay 8 lOOJi Southern ny 7s 00J4 Stand Oil N T Ts. '2B....100J4 Btadn OH N Y 7s 81....102V4 Swift A Co 7s 00 Toxas Co 7a 00., Union Tank 7g 1001 Norw ay a 100 Hwiss ."iMib n,l Denmark sa uu? 94K 101 100'4 001 101 na4 osw 02 B0U DOS 9IIV4 R6ri lnnU ow lOOS 10'.! M on oo 100 100 844 90Vi 1O0H 971 03 101 101 09W 101 D3U 9A 92W R3M Ofl4 9AU H0V4 100U 00'2 1002 1024 9A 09 iffi 8.tt NEW YORK COFFEE MARKET New York, Jan. 11. The local mar ket in coffee futures continued to make a show of firmness, and on the call prices were 0 to 11 points higher. New outside demand again asserted itself and the offerings came from scattered Hources, The cables were encouraging and tho trade generally seemed more cheerful over the outlook. InereaMng firm offers In the cost and freight market, a better demand for spot coffee nt slightly higher price levels, coupled with a continued fair outside demand for contracts on the exchange, sent prices 10 to 21 noints net higher at midday, although the volume ot business transaction was not heavy. Ilrazillan receipts have started to decrease and, on the whole, the situa tion to some looks rather encouraging for a turn for the better. A.H0&H3 7.2402S 7.(1308 7.0498.00 German Bank Statement neilln. Jan. tl The statement of the Imperial Hank of Germany Issued De cember SI, shows the following changes' Total coin and bullion, Increased 83,000 marks; grld, increased 4000; treasury notes, Increased 1,947,841.000; notes o: other bunks, decreased 816,000; bills discounted, Increased 6 892,257,000; ad vances, decreased 8,515,000 ; Invest ments, decreastl 6.905,000; other securl. ties, decreased 7,862 000; notes In circu lation. Increased 1.679.372.000 ; deposits Increased 8,162,883,000; other liabilities decreased 1 604.769,000. Total gold hold, logs, 1,001,638,000 marks. ' m Yest. elose March A 747B May 7.14QIB Ju y 7.B4OB0 September . . 7 85 WHO GOVERNMENT BOND8 Philippine 4s. 1984 a. Phllnplne 4s. 1935 ...... s U S Oovt oounnn ". 1fln ' " U B Oovt coupon Is. 1929.',':: '. Ask 90 100 101 Build Now For the. Future NOW, while in your years of greatest earning capacity, set aside a por tion of your income for investment; in souid, conservative securities. Today the securities mortgage bonds and preferred stocks of sdund, industrial Corporations, public utility companies, railroads, the bonds of our Municipali ties and States and Federal Government arc selling below their normal value. Keen business men drc now purchasing ' carefully selected securities for the investment Of their funds. "Cassatt Offerings" -t a list of selected securities worthy of your consideration will be sent on, request. ASK FOR CIRCULAR B-3 , , CASSATT SCO., CttahltshKttOTS COMMERCIAL TRUST BLDG. ' ' PHILADELPHIA ' NEW YORK BALTIMORE PITTSBURGH SCRANTON Bonds Funds for investment put into long-time high-grade bonds should show considerable appreciation in the not distant future. A list of securities which we. recommend at this time will be gladly furnished on request. GEOiOCENPRrCK3rd S CQ Uembers New Yo and Pdl- MkUU " BsllUprjiej 4t0 delpsua ote Bxenangesj aw,w c n ' ' ' An Opportunity to Learn the Bond Business We have en opening for a voting man who has had a good education, to learn the investment banking business with one of the largest houses handling conservative securities. Write giving age, business experience, if any. Replies will be treated in confidence. Addreet C 209, Ledger Office NEW HAVEN Enjoys a practical mo nopoly of the New Eng land railroad traffic much talked about re ceivership rumors an interesting analysis with a map other worth while features in Ask for a copy PESO MARKET OPINION FEINBLATT & CO. Mimbtrt et the Phlladtlphla. Stock Exehaaf 139 South ISth St. Philadelphia PaesMiBen Ssrace 7(27 KeyrtsM tact 1104 Charles Jacket, Manager Direct Prioalt Wtrti to R.H.MacM ASTERS &CO. itcmbere CkmtolUSattd Stork Ezch. otf.Y. 82-84 Broad St. New York Specialists in OHIO MOTOR, RUBBER AND STEEL SECURITIES COMPLETE SERVICE In All Forms of Investment Mam Departments Investment, Brokerage Acceptance, Liberty Bonds Foreign Exchange Statistical, Ohio Securitie Extensive Private Wire Connections Members of New York and Other Principal Stock Exchanges OTIS& CO. Investment Banker CLEVELAND K?.w 7ar. Bo'ton Detroit Cincinnati Colarabna Toledo Akron Tanngstnwn Denver tlnrmln Inrlnge We Becoumend and Invito Inquiries on t'ifSSrV'SMe 1st Morsggf H, T. 7X. Feb foil HtaDdarf (5if of fradf . Va, Jan. 1031 hTpndard Oil of New Yorfi 7" Serial rennarlranla-Ohio INmer fc Light 7H. Nov., 1040 m PAUL & CO. Members Phila. Stock Ricbaugs ll CHESTNUT STREET iCAP!TALS50aOOaOO II SURPLUS (EARNED) ) II $2,000.600.00- Jl gtiwMwfe YOUR WILL should be safeguarded for a lost Will is about the same as no Will and a mislaid or hidden Will is almost as good as no Will. We give you a re ceipt when you deposit your Will with us,, and it is thereafter SUBJECT to your order and instant ly procurable for your in spection, correction, codi cil or destruction. Upon death of testator, wc promptly deliver the Will only to the Register of Wills FOR PROBATE BOND SALESMAN Do you feel that your sal" are as largo as they ehotild be? Would a connection with an investment organi zation, established for 34 years with offices in 17 cities, in crease your earning po.w'r' You will have behind yr .efforts the name and reputa tion of a nationally advertlied invebtment house offering lanre diversified list of bonds, including issues t origin"'; Replies will he held in strict ronfitlencc, C 214, Ledjcr (Mice. at V u a SHft .-ui rv-, tWmfin - i, fir ,..Vfo,Vi KtAJCu (iiHtAorv
Significant historical Pennsylvania newspapers