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.
16
EVENING PUBLIC LEDGER-PHILADELPHIA, SATURDAY, DECEMBER 24, 1921'
.
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Spruce 8200
LIBERTY
BONDS
fcECUlUTlKS DEPARTMENT
Commercial Trust
Company
Member Inderal Reserve System
City Hall Square, Wet
KSSSSiSSSmSiSSiaSSmSmSSSiSSSSSiS
STOCKS STRONG IN
A HOLIDAY MARKET
NEW YORK STOCK EXCHANGE TRANSAClibNS
Week's Reaction Considered a
Temporary Halt in Con
structive Movement
Te our clients and
friend, te all who have
helped te make thit year
worth while,
:fetma
Cfjv
Widish. Bum. PHiiAOtumtA
AWW MIMMI aW
fwlirShckEJKtm
Dtv.
Sls In $
ZOO
100
000
100
300
PjlSlkliE
GARRISON &CO.
WIDENER. BLDG.
MEMBERS-NEW YORK AND
PHIUDELPHIA STOCK EXCHANGE
I.
STOCK EXCHANGE SERVICE
Safe Bends r Investment
HALSEY, STUARJ
&. CO. Inc.
Land Till Bid. Phene. Locust 1S20
C. S. PATTON & CO.
3D & CII1WTNTT HTM.
BANKERS
Successors I"
MIMCR A r,TI-. ISKHOV
llnnda ii nil storks bought anil sold
Member Phlla. Stock Kichnng
Lawrence E. Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
1010 UJK.1L, laSTATK TRUST DLDtl
Investlxste and ndjuet corporation and
nartn-rshlp accounts and prepare income
SteckweU, Wilsen & Linvill
CertifiedTublic Accountants
Land Title Bldg., Philadelphia
FINANCIAL
Proposals
FUUI.IO BALK
Hr Order of the Harber Commissioner
FUK A LKAS1,
of Walnut btrcft Pier. Camden. N. ,j
Fer . term of en, three or flva year.
from January In. 10J2
ON ritrDAY. JANUARY 13. ID-J
it 8 1- )I. J
Roem It, ntr Kail. Cumden. N. ,i
Bids will be received for eald lease '
. Didder te atate term bid en. nlee annual
rental te be paid. Cnrrrnlsstmi may re'iuire
l.isea te rlva bend with satisfactory aurety
for faithful performance of lease it r.
serves the right te reject any or all bids m
may tw beat for clty'a Interests. ua
A certified check for J10O ti order of
City of Camden Is te accompany each bid
check te, be returned en cxeoutlen of lease
or rejection of bid. Copies of lease maUed
en application and ether Information A te
equipment can be had from MY William D
flayr. Jr .Harber Engineer. Roem 11 Cltv
11.11 n.miVen N .1.
I New Yerk, Dec. 24. Today'- eleslns
market did nnt nmeimt te much, but
what it lacked In breadth it mere than
'made up in strength. .There was a
subMnntlitl Improvement scored, the
nalmi bcinjr particular! marked in a
number of stocks which bad been tin-
i duly depressed in the precedlne. ses
sions. This apparently represented
cevcrlnc of the leaser shorts, ns most
of the important traders finished their
evrnlnjjf'up opcrntienH ycMerday. The
ittendance was very slim the tnajeritj
f the mere Influential trader havlnir
leparted for the Christmas hdidevs
IhiR cut the dealingS down te small
proportions. Dcsnlte the niuellv of the
mi. n; demand ether than that renilnR
from the requirements of the sherls the
advances were well sustained.
The constructive movement appeared
te have received n little back et during,
tha week, but It remains te be dtmen
ijtrated whether it is mcrelv n tem
POrnrv halt In tlie ununrrl kuln nr
(that the major bull movement l fin
I iHlietl. There Is a cen-itlerable diversity
!of opinion an te this decision nnd prob preb
nbly the real verdict will be found in
! the nbllltV of the tmnlH nml rllmips in
maintain their market position without
beinc compelled tn iettlxnn thrlr linlc!.
InRR. One of the trenget argumentH In
favor of these who contend the setback I
N enli a temporary lull in the rccen- ,
StPltnll.n vi.twn.n tt.. l .1.. r.t .1... I
....... iivn ii.eiiiii, nre in iu muL Illlll
none can eitlier hear nor read an
thiiif? but reactionary ressIp. About !I0
per cent of the. market lltcrnture iH
pesjlmlstic nnd the balance H uude
eliled. Thin becnine ijulte the prevnilliiR
condition before the October rise set
In Furthermore, experience has shown
that the market but HCldem Rees the whj !
, the majority opinion thinks it should
go. That !h te nay, the market nine
times out of ten does the unexpected
'rather than the expected.
It inity be true the speculative en
thusiasm hes outrun the Improvement
in the fundamental position. This.
1 however, is easily counterbalanced l
the multiplying highly constructive de
.vclepmcntH both as pertnlnlng te the
'domestic and foreign situations The
gt eater factor, however, In favor of the
i constructive side lies In the eas money
market conditions The rapid piling up
of idle funds Is evidenced in the slg
rillicaut bend transactions and the phe phe
neminally rapid absorption of new is.
sues of almost everj class.
t This week, olene. ever .5110,000.000
of n"wbend iMHs were offered mid
ereedllj taken and. measured bv the
tremendous demand, were everMibstrlbi'd
many times. This erdlnnrily we seem
ingly preclude anj material setback In
the stock market program, as any one
familiar with the market movements
readily recegnbes the necessity if keep
ing the pet beiliiiR In order te produce a
sui cessful flotation of the new financing.
Then there Is another censtrui live
side te much of the recent new financ
ing, which lies in the fact that most of
it represents either refunding, or the
payment of bank leans. In the iattci
in be, It means the thuwing out of the
much dlscusstd frozen ci edits, and with
the releasing of these tied up funds,
means that much mere raenc.v for
ether purposes, whether it be for specu
latien or whether it be for business
Interests.
Thcie is still another big factor that
I should net b overlooked, that is the
'merger talk. It is net at all Improbable
that man of the recent combinations
will come te pans Neccssltv will meke
main univelduble. The motive for these
I further amalgamations and consolida
tions Is much the same as It was at the
beginning of the memorable "amalgama
tion crnre" of IS'.II) low prues for
commodities, urgeut competition and
eager search for expert trade. Thin
I above It all. it must be remembered
the bear crowd leck the leudcrshin it
hed for be long and it finds It just as
difficult te find the top of the market
as the bulln did less than n year age.
3 car age in feeling for the bottom.
FOREIGN EXCHANGE
New 'Nerit, Dec. 21. The foreign ex
change merkct tediy wan of a holiday
character at the, opening but quotations
for the most part showed gains iiinglng
from 1 cent in sterling te 0 points in
the ether exrhanges. Marks were un
changed from vesterdaj s close
Itlxh
AJax Itubber ?i
Alaska Geld Mines... V
Allied Chem & Dye.. 'V5
7 Allied Chem A Dve nflOltt
tna 4 Al?-Chalmeni
J.- AmUrrle Chem tt
Am Besch Magneto,. ''H
Am D Shee Fdy new.. 3
Am Can 3H
19 Am car A Fdy 13)4
Am Chicle Uy
.. Am Cotten Oil 1K
? Am Ice '
Am lee pf 70
1 Am-u France Cnr Te
Am Tilnseed S3
8 Am Locomotive 103
.. Am Safety Ttnzer .... Va
.. Am Ship & Cem ....
.. Am Smelt "
7 Am Smelt pf "7
3 Am Steel Foundries.. 354
.. Am sugar Ref '
Am Sumatra Teb .... 31
0 Am Tel & Tel 1"
15 Am Tobacco 131J4
fl Am Tobacco pr new.. 8
Am Waterwks 6 Pf. "'i
7 Am Woolen 70U
Am Zlne Lead & Smlt
.. Anaconda Copper .... 0Ji
Atch Tep ft Santa Fe. MJi
Ateh Tep & S F pf. .. 80
.. Atlanta Blr & Atlantic iV
10 2.80 Atlantic Pet 3
7 Baldwin Locomotive . !
.. Baltimore ft Ohie 3
.. Batepllaa Mining .... !i
.. Beeth Fisheries 54
Hrlt Em Steel Id pf . 31VJ
10 Bums Bres 131 Ji
100
100
700
100
MO
700
1700
400
300
300
1100
300
000
3300
209
000
1400
300
300
300
100
100
1300
1(0
6000
400
000
100
400
4000
400
100
100
tee
1400
tee
390
tee
210
200
4300
200
100
1000
390
200
4(10
.tee
200
200
3399
8800
0000
200
400
100
200
100
7209
700
tee
300
100
i no
1800
2000
TOO
800
200
1300
tee
1300
100
. Butte Copper ft Zinc. SVt
.. Butte ft Superior Cep. lefi
.. Butterlck 31
.. Cndde Central O ft R. 12 H
6 California Packtmr .. 0Ji
.. Califem'a Petroleum. 4f(
.. Cat Zinc ft lx-nd ....
.. Carsen Hill Mining .. 11&
10 Canadian Pacific .
. . Cerro-de-Pasoe ....
.. Central Lentlier ...
.. Central Leather pf
Chandler Meters . .
.. Chi ft IS Hi (wl ..
.. Chi ft Or West pf.s
.. Chi Mil ft St P ,
.. Chi Mil ft st P pf. ..
B Ch! ft Northwestern
7 Chi ft Northwest pf
.. Chi R I ft Pae 32
Chi R I ft Pnc 6 pf. 72
r. Chi St P M ft O...
7 Chi St P M A O pf . . . ,
. . Chile Copper ,
. . Chlne Copper
. . Clev Ci.i Chi ft St L. ,
4 Coca-Cela
1 Colerado ft Se 2d pf.
e Celum Gas ft Elee . . ,
.. Celum Oraphophene. .
. Cel Graphophene pf
4 Cemput Tab Records
.. Consolidated Ms Ins.
7 Consolidated Gas . . .
.. Consolidated Textiles. l&H
. Continental Can 48
R Cern Products Ref . 00 'x
7 Cern Products Ref nfllOW
24U0 2.80 Cosden ft Ce 37i
700 4 Crucible Steel MJJ
200 .. Cuban Am Sugar 13
. Cuban Caue Sugar. . . Bt.
. Cuban Cane Sugar pf. 13
4 Davisen Chemical . . .
I) Delaware & Hudsen.
6 Del Lack & Western.
t Deme Mines
6 Endlcott-Jehnson ...
. Crl
. Urln 1st pf
. Erie 2d pf
8 Famous Players L .
8 Fameua Players L pf . 0JIJ4
4 federal aim &. bmlt pf as
.110
. 34 M
. 3J4
. 2 J,
. 47 J4
. "H
. IBTi
. 31
. G3JS
. 00
84
88
10
28
84t4
41
49J5
14
3!4
"Si
as
8S
02
300
2C00
1800
200
2S00
tee
700
800
1000
409
3909
00)
200
000
2400
100
14709
200
100
tee
001)
3Ji
let
131 J4
1BU
78 'A
10 V,
WA
leA
77?
Flsk Rubber 12J
. . General Asphalt (8
8 General Electrle 130 !$
1 General Molera 10 J,
7 Gen Meters deb 7i 82 J
.. Qoedrlch B F 38
4 Great North Ore ctfa. 32
7 Great Northern pf
1IOe 1.80 Ilablrshaw El Cable.
JlJs
"A
784
11
3J
40
tee . Housten OH
400 .. Hupp Motorcar ....
100 OK Indlahema Ref
000 . . Inspiration Cen Cep.
300 .. Intemat Agrlcul 7i$
1800 .. Int Acrlcul Cerp pf... 32
100 .. Int Mcr Marine .... 14
1109 6 lnt Mer Marine pf. .. 3
100 7 lnt Motertruck 1st pf. 72
700 .. International Nickel.. 12?,
400 .. International Puper... 83
7800 .. Invincible OH Cerp.. II J,
1100 .. Island Oil 2
300 .. Jewel Tea 11 yt
1200 .. Jenes Bres Tea 37JVJ
100 .. Kansas City .Southern 23 J,
Lew
UK
V
7U
lei U
37
21
33
83
S3
142J4
ll'i
21
7SJ4
8
9
33
101U
m
a
43J,
87
31 K
82
30J4
113V4
131
08
17 14
78 V4
13
4y
03
8814
i'4
31
24
(3
38
21J4
12IJ4
514
1714
31
12J4
69
48
n
1114
no
34 K
30 Yn
62 A
47
lfi4
Mfc
18
20 J4
8114
88
32
73
34
88
1
2714
5414
40
494
ctiA
n
ii4
84
81
144
48
10
U814
3J4
68
13
6
1314
2
103 (4
11014
1814
77
10
18
184
714
lli
37 J4
13J4
03J4
130 14
1814
8 1 14
33
32
7414
1)4
78'J
11
3.'.
39
74
31
14
r,i
73)4
11'4
83 3,
13)4
2
11J4
30
33)
Today's Nst
Clene Ghg-t.
10 14
y ..
7)4-
101H- 1
7 J4
3 yi
33 14
83 - J4
33J4 '
1214- 14
11J4
21 74
76 14
701
J4 K
33
103JV4 - V,
m- h
K
45 1)4
87 - 14
33)4 )4
83 )4
31 14
113 14
131 J4 1
08-1
1714 Vz
70V4 K
12 ..
48J4
83)4
88)4- )4
l'4 14
31J4 1)4
Males
200
8100
2800
2800
10M
100
100
100
Div.
In I llkh ,
4 Kansas City Se pf. .. BJJ,
.. ICansaa A Quit V)4
4 Kelly-Sprlngfleld Tire. 43
?
.. Kennecett Copper
. . Keystone TAR .... 17
S Kresge S S 17
. . Lackawanna Steel ... 44)4
2 La ntiMi,. Tlr 9fll
780 3.00 Lehigh Valley 87ll
""" 7 Lima Ixieemntlv eat
.. Leewe Ce lift
l Left Candy 1
.. Manatl Sugar ....... 28(4
.. Math Alkali 20b;
7 Manhattan Elev guar 36
. . Market St Rwy 3
.. Market St Rwy pr pf, 38
.. Maxwell Class B.... 14)4
13 .Mexican i'troieum ..111
100
300
200
300
10s
180
100
100
5200
300
3 Mlnml Copper
,.. " -null V.U1!1 ...... 411
7200 1.10 Middle States Cerp... 14
26
24 1)4
804 K
38 U
14 ..
8 - W I
2114- 4
isij-s
5)4 V
10
31
13
68)4
48
6
11)4
110)4 31
30)4-
62J4 I
7)4 14
15
16J4 .
18J4 1)4
nil: j. tu '
1U
-Vz
V
- 1
ii
y.
i
f3
00
12
73
8
88
15J4
28
514
i IS
4!4- 354
65-
3 '4
12)4
81. 1"4
02 f 154
lJ4 - 15
48 1
86)4
110)4 1)4
37 f. 51
C854
1J
0J4 f
13J4
63 1
1001 I
130)4 114 1
l)4 14
78 ..
10 .. 1
15)4- 141
10)4 Y
7754 l
8554 lt
3S hi
13)4
6S54 t-
)
10-
8254-
38 I
Zl r
74J4
114-
755s
M
3J4
40 4
754-
3254 r
14
C354
7214 H
13)4 r
62H
1454 V 1
..
HJ4 54
37)4 1)4
33J4 )4
700
610
1100
3700
500
200
500
180
400
200
100
100
500
1100
300
100
300
100
200
109
2600
700
300
tee
2700
3300
100
300
600
800
800
200
2200
500
100
200
100
700
800
601
609
100
100
100
100
Mldvale Steel 27
.. Minn ft St Leuis .... 5
.. Me Kansas A Texan.. 1(4
.. Me Kan ft Tex (w.).. 8
Me Kan ft T (wl)pf. 2(
1 Missouri Pacific
.. Mo-Paclfle pf.
17
45 ft
.. Montgomery Ward ... 14
National Acme
Nat Enam ft St....
. . Nv Cen Copper. . . .
0 N O Tex ft Mex
8 New Verk Central..
.. New Yerk N H AH.
S N American pf ctfa. ,
1 Northern Pacific . . .
.. Okuv Pred ft Ref...
. . Orpheuiii Circuit . . .
.. Pacific Devcl Cerp..
5 Pacific Gas ft Elee .
8 Paelfle Oil
a Pan-Amer Petrel ..
6 Pan-Amer B
.. Penn SeabeardSteel
3 Pennsylvania R R. .,
. . Peeples Gas Chicago. 63 5
., Pere Marquette 20)4
3 Philadelphia co 33
. . Phllllps-Jenes 80
80 Phillips Pet 32
.. j-iercc-Arrew meter . ''n
.. Fierce-Arrew Met pr
.. Pierce Oil
8 Pierce Oil pf
6 Pitts Ceal pf
.. Pitts ft West Va. ..
Be Pend Creek Ceal . . .
.. Producers Refiners .
t Pure Oil
.. Ray Cen Copper....
4 Reading
2 Reading 1st of J
.. Remington Typewriter 24
.. Replegla Steel 25)4
.. Republic Iren ft Steel. 5i
800 8.20 Royal Dutch N Y.... 60)4
300 .. St Leuis 3 W 31
01 .. St Leuis Seuthwest pf 31)4
100 .. Savage Arms 1354
100 .. Baten Moter 3
700 .. Sears-ReebuMc 6t
100 7 Seara-Recbuck pf .... 88
800 .. Seneca Cep Cern 2354
300 .. Slmttuclc Arizona Cerp 8)4
1800 .. Sinclair OH 224
100 8 Se Perte Rice Sug pf. 78
1700 e Southern Pacific .... 79
500 .. Southern Rail lSft
200 .. Southern Railway pf.. 44
1601 4 Standard OH of Cal.. B4J v
1180 B Standard Oil of N J.. 18254
300 7 Stand Oil of N J pf. .. 114
3100 7 Studebaker WA
100 7 Steel Tube, pr 80
400 .. Submarine Beat Cerp. 3J
300 .. Superior Oil Cerp.... 654
1300 .. Tenn Cep A Chem... 10)4
1800 8 Texas Ce 48 J',
300 .. Texas ft Paelfle 20 54
1100 1 Texas A Pac C A O.. 28
10J4
87
16
57
7354
u
39)4
7854
8
1
5)4
6J4
7J4
63)4
0U
10 ,
"-
28
12
72
03
25
14
3054
37
15
7214
4354
t304 2.80 Tex Pac Gulf A Sul.
'
14
14
14
14
14
U
1
'
H
Ml
Total fales, 27s r,ei shares, compared wltlHMi.OOO "shares yealenlay,
400
200
800
100
4800
800
300
100
100
100
700
100
COO
1400
100
1400
1800
100
200
800
400
300
300
100
100
100
100
800
200
100
Thus
4154
Third Ave 1454
8 Tidewater Oil 140
0 Tobacco Products .... C3;a
. . Tel St L A W ctfa pf . 21
.. Transcen OH 11
.. Union Oil 18 J4
10 Union Paelfle 125
4 Union Paelfle pf 70
.. United Drug 72
.. United Rwy Invest... 8 54
0 United Retail Stores.. 6354
..US Feed Products... 9J4
..US Ind Alcohol 31
..US Rubber 54
8 U S Rubber 1st pf. . . 99
BUS Steel 83
2 Utah Copper 04
.. Va-Car Chemical pf.. C7J4
.. Vlvadeu Ine 054
.. Wab.ish 0
.. Wabach pf A 2054
.. Western Pacific 10
Western Paelfle pf... 81 54
7 Western Union Tel... 0054
4 Westlnghouse E A M 5054
Wheeling ft L IS.
4 White Moter
...White Oil corp
.. Willys-Overland ....
28 Wright Aero ,
far this urvli, 3 IJ3 COO,
654
3754
11
5
8
Lew
t
2154
16)4
17
454
2854
67J4
83
.1314
19
25J4
28
36
3
35
14 J4
113
26)4
1
2654
6
114
8
34
17 14
(
1
18
36
16
57
7
13
31 J4
78)4
3J4
1
654
0054
714
5114
48
10
33
00
2054
3214
77)4
32
1314
28
11'
70
03
314
16
30
37
16
71
43)4
24
2654
61
40
21
31
1214
2
68J4
88
22
854
21
78
78
18
44
03
18054
113
78
89
3
6
10
45
20
27J4
39 J4
14
140
625-i
23
1154
18
1312
70
72
8)4
37
8J4
38
84
10
8354
03
7 Ji
6)4
6
2054
1654
81 54
80 54
6054
014
3754
10).
5
8
Today's Net
Clese Ch.
I4
714 H
43)4 114
26
171
174 3
44)4 V
28J4- 54
7
83 3
tm
10 54
28)4 14
I0J4 1
3t ...
3 r U
35 V 54
114 14
1154 IK
26
13J4
37
5
1J4
8
28
17
48
14
18)4
87 II
47-
734
13 -
36J4
78J4
3J4
14-
5)4
66)4
754
62
4854
10
3314
83
80
32
13
29
1254
7054
83
26
15
30
37J4
16
7254
4354
24
2654
81
60 54
21
3154
1254
2
88 - J4
2354 1
854
33ys 14
78
78 54
18
44
98J4 154
18154 1
114 -V
78J. 54
80
3-
0
1054
44J4
2054
2754
41 It,
114 A
140 8
"14 . '
K
54
14
14
54
'A
V
H
14
14
114
14
14
54
54
LOCAL TRADING
FARLY ACTIVE
Sources of the Continuous Sup
ply of Pennay Being Skill
fully Guarded
Despite, the rcstrictlons'ef the holi
day influences, tie local market was
fairly active. There was quite n. geed
elitme of business for the abbreviated
session, nnd whllc price movement was
uneven, most of the represented shnrcs
were steady. Continued free selling cf
Pennsylvania Ilnllrend was again an
outstanding feature, hut the stock was
Micccssfully pegjctl nt 3,'l, later In the
morning improving a slight frnctlen.
The wider price changes occurred in
the Inactive uterlts, for which the mar
ket was found thin. Pennsylvania Salt
declining n point. Philadelphia Traction
hnd a similar less nnd Westmoreland
CV.al was off IVi pUnta. U. O. I. com
mon nnd preferred. Iehlgh Navigation
nnd Philadelphia Rapid Transit wcm
fractionally lower. Ueneral Avphnlt
was up 1 points.
The upward-wlng In the local mar
ket was also halted during the week,
partly due te the holiday Influences and
partly due te the preflt-taklrfg. The
latter was te be expected, in view of
the substantial' advances tcercd bj
many of the local shares.
The only thing commanding the at
tention of the street just at the mo
ment is the persistent feeding out of
the stock of the Pennsylvania Kail Kail
read. The Identity et these holdings
has been skillfully concealed, se that
net the slightest Inkling lias been ob
tainable as te the source of supply
which for some time has been feeding
the market just as long ns it would
take the stock. A number of theories
hnvc been propounded, but ns none of
these bear very substantial foundation,
it would probably de mere harm than
geed te recount them. Fer u time,
it was the theory that n considerable
part of the selling was for the purpose
of establishing losses for Income tax
returns. The pressure, however, was
tee insistent, as well ns persistent, te
consist entirely of this sort of sell
ing. There may have been n great
deal of stock sold for that purpose,
but the supply has been altogether of
tee automatic a nature te believe It
was entirely of that nature.
It is somewhat paradoxical that, while
some Interest, or interests, Is letting go
their holdings in this country, the for
eigners are beginning te take their
stock back again. 1'esslbly, the increase
in the foreign holdings was due te the
distribution of the stock held by the
war commission and pledged for leans
In tills country which have been liqui
dated. Seme interests en the Street Intimate
the reason for the feeding out will be
made known uftcr the turn of the car.
This sounds mere like n guess than
based upon the knowledge of the facta.
The stock lest week went within a frac
tion of its low leeerd price, then ral
lied te above .'14, but at the higher level
there was n pioneunced increase in the
offerings.
Philadelphia Stocks
23
".
: r
128
70
71 -
854
83 -
814
38 4
54
91 -83
63 r
0714 i
6)4 ,
6
20)4
1054-
61)4-
1054-
5054
0J4
3754
11
51
8 ,
!4
14
154 1
14
14
14
14
V
54
14
54
14
54
Ji
14
14
J4
14
IIIrIi Lew Clese
Net
chse.
Philadelphia Markets
Aaerens innpenum 10 ir aeerz w
Iloem
Commlsslerers
Camden, in j
Dated December 10. 3021.
Ttra flf ""ber
11. City Hall.
V.11KAT HicelplB, 200 S17 bushels Mr-
1 t nrm at late aiivunre tftr lets in -xpert
At the beclnning of the set nnd heuri? ..d int sniiieiH. si taui is ether
the market, though dull, showed, with 1 grades queltd at the following nctiedula of
inn nr tun exe, ntleiis calns nvpr rnteu ' dj'ceunte Miked wheat flc under red winter:
one or two ixrtpuens, giuns ever rates , d wncRt 3 umier Ne 2, Ne 4 wheat 7c
ruling at the same time jcsterdi.v, run,:- 1 under Se i Ne fl wheat lie under Ne. 2
ing from 'jc in sterling te l-ii points jn,aanipi ramn.- ie .
ether classes. Marks, however, were fln'd'f Kar IVn ,
wic cxri'uuii.
Quotations were: Rteiling cables,
4 IIIV3, demand 4.188 ; franc cables
T.J'SM!, chicks 7.!7j ; IWginn rubles
7.08, checks 7 07; lire rubles 4.40,
checks 4.4.r,3 ; marks, TiIIVj.
The Central Hurepean exchanges
were nominal tedaj. Rumanian, .77;
Hulgurlnu, .75: Serbian, l.fiOj Cecho-
Slevnklan. 1 ill) . .luge-Sl.ivian. H'.l;
(reel.
1 !IS:
he. rirm
nd I c hlsher far leta. In expert eleiater
Ne .', Il!4 0(12'ic. Ne 3, OOHUUOHc Ne.
4 3HVj(.V7Wc far lets for local trade,
Ne 2, ellev old HT'ifeOShc Ne. J e.
lu new 3Vi iiulVir, Te 3 jellei, new,
HOMi 01 4e
OA.T Heceluts, 28 70 bushels Drmly
held 'r IeIm e.i te location Ne 2 white,
4SUtr4Vic Ne 8 white, 44V4 f 45c
rLOUIt Receipts 1000 bbli and 2,278 -017
lbs In Hacks I'lrmlv held but quiet
Quotations Per 108 lbs., packed In HU-lb
Jute sacks Seft winter straight, western
lu 1 tuiie ea go au nrttru), uvre .e naru
life. Polish. .14,1, I ninish, winter, Blraljht J02TOftO ue, stwrt
Austrian. 01: Iluncannn. 10 1 ent, I0 7RWT "UrLnif. ,nrt. clear, l.
" . - - 1 - H iin III H-.M7
rnui'us.M.s
TUB CLHKLAM) AM) I'lTTSDrnnn
ItAlI.nOAIl COUl'ANV " "
Cleveland O., November 2sth in"!
c.iiied nropesals for the mil.. . ,.'..
ilertsace llends of this Company for ie I
r.iuni nf the blnklnff Kutnl. m T.i . ac ' n,
fed par and accrued Interest, te the amaiTm La
,f llft.oaeOO will le rec-lied nt "the fmll I
If Messrs Wlnslew Lnnler & Comply
Ofl Cedar Street. New Yerk. N. T. t thl
.--- i"-( .,7.""" . - Ili.'I. I'm,
Demund
Cnblea
nnd
blca
IffM SOS'.UOnil ue, ariurt pat
T aiirlnir Msait elsas t . I ft ft
ritlt '' I "! I P" ' sti it. vivns ' ivv
K A". Hn nslanl til HlrVr7 ' tin ihnrl na
TCIDAT H OipiNU QUOTATIONS ent. 17 407 ! fancy sprlna and city mills
niaTiiiiK jrijiits t,ir uuueers patent. Ismliy Dranas. s nvav. Jie Heur,
4 Hn 7 II il 1 4r.j SB 37 0 70ltOJ3
' 1H ' nT '0 30 0J lillfiVIHION'S eulel but stesdl lleef In
sets smoked and .ilr'ilrlei, t2c beef knuri.les,
u3t ierk. family 34c, hams. S 1' cured,
loose SOViit. de skinned loeio. IHWMi.
de de, smnki.d JilQ2Hc. hums bellrd bung
les 3ftc, picnic shoulders, K. I', cured, loeae
Uk. de Hiiiek'd 17c bellies In pickle, loose,
17c, breakfast bacon. 2-'c lard. 12c
HIT I i:il ijulct and unchanged Queta
Financial Briefs
NEW YORK BANK STATEMENT
Exceia Reserve Reduced 98,655,710.
Contraction In Leans and Deposits
New Verk. !, 24. The actual
condition of the Charing Heuse banks .,., Xen cC-Med n?f "in
, nallread bends and netea maturlnir In
lw2J nrn cemtmrstlvelv sinnll. S xn nu i nm,
afralnst Mnil I44 S10 In lli.'l. The are weli
dlstrlliuted throuulieut the year, altheuich
ij or,7.310 fall dun next month Financing
A , . Mian ijnw Clese chffe.
SOtAtlnn Oulf .'11V4 31 Vi tiV, Vj
aetnald Loce DO 00 00
170trMS.HtP 18 181, i8aii(X
lOfKem Plav 70 70 704-
UOOen Asph 0.' 0Ti rf5l
1'OOtnen Mlrs. 10 10 10 il
11 (Hunt Pert
. Ccm't pf mj 17 10Mi..
lOOtlnspIr CV.p :) .1!) ,!f)-
loe in Ce n a :uu. an.. w.. it
lOOflnvln Oil. KIM- i,'iZ 131 J-
25tKe Tire. 10 10 latyX
200 Lake S Cor 0 (t 0 V,
18Leh Nav.. 07'A 07j 07$ V-
340 Leh Val.. r.7f 57 r.7 tf
40fMex Pet. 11 IVi 11.T4 314V.4-l.-il
MStPac Oil... 47V4 47t 47'2..
1130 Pa n it.. :v- :.i :n
100 Penna Salt 711 72 72 --1
.'ISPhlla Ce
cum nf.. 30 30 30 ..
18 Philn Hlec 23Th 23 23
102 de pref.. 27 27 27..
hi r h 1 . .. 17 Vh i "A
150 Phil Tract fiS r.7
KltPlerei. Oil. 1 1 1f. 11 U.
lOfi'rans OH 11V4 11
n ... Ml , a
jiii in i rnc. .wn
r.7ru 01... 10
30 de pref.. 51
80 W ,T & Sh 27
132 WcRtmd C'l 08
III'.
and trust companies for the week shows
tnat thej held SS,383,0f(0 reserve In
excess of legal reiiuireuientN. This is a
decrcese of ..8,05.r,.710 from lust week.
Leans am discounts were reduced R14.
255,000, and demand deposits disclosed
n shrinkage of $23,584,000. Reserve
cndlt nt the Federal Reserve Bank dc
cieused $12,470,000.
AVEKAOR
This week Last week
Eicees reserve . 15,740 fISO 1U Ml.h.Vl
Arcrrtate res CO, 257 Olie ,i21,0ill,OOn
Iinns. etc 4,4flB,fll0.)00 4, 44.", 1)50,000
1-r.nn in vauita
83,407,000
January and
77. 801.000
508,2'S0,O0O D
3SIN(1 C
Kt-rllnr Tranrs Lire Guilders I
ts, , ih' 4 43V, an -.s
8 838,000
'IVi 7 '!(
4 41
30 04
GRAIN MARKET ,
,.., Y-v- nt i,i . ... . .,
pesais niusv iiiuirKia series et bends . ,. ...v..,.", -' , -- ' ni.ucu -h , jens sena picsea ereunrery, extras -me,
tip., .c" or "D," and also, in the r'. te Vi higher for Mav and VI te V bet- 1 Jobbing sales of hlh-cerli!f goods. 45if47e.
erRerles -n." must Indlcab,' ih. numSJJ ' Jei- for lulv with moderate trll. I extra rlrsts. 41ft48c. flrsts. J',37c. swiet
n' b2Sl''. b""" eoupens for J17 be m.?i I )TI ' r l , meiiernte trililP J erlimery. choice and famcy 40B 47c. fair te
for S22.50, each respectively rtenS. ...."."5 1 here vv as an absence of selling orders . geed ,17016c, fancy brands of prints wers
Srlll be tiayable JanURrv .1 ine,. "rVO ... . .... . ., ,,M. n.l.n.,..n.t 1.... ,.. 1 vvvl.incr B .MUiRSn. full- In rhnlre AHfAR.e 1
wrnsLVniS?1' V-eM Hf ' m d "V 1 Mreng m-irkct T a Eaes-Quut at i. 6Hn.. The ,ue.:?nr..c.r" . 4.i$lAii
raief A". IfS' ity rtMV: reVer , ma. ket was q,,l,t. but firm. "stiT V K.'i r"nrf.Uu c.n,0,?. ' Zn " mll.r
10 rejsct tne ma Pnrn started "s te higher, with n Sc. seconds. 40000 jobbing sale, of "anks memuer 79 27,
" rr"urer. I ,n. ,., ii.Ilir ,Wu nf med r candled frish eggs, 7071c. fair te choice, nescrve In mem-
WlUfWl'V
& member hka
Ileeerve In n, em
ber brnks and
reBerve banlts .
Iteserve In Stnte
banks and trust
rnmiMinlrs
Resrve In State
Imnks and trust
cinnpanj depesl
terles
Net demund de-
Peults . 3 Ofl0.R4B.00O 3 857.20d.OO0
iime (iepe.ua . .is.uu oue
Circulation 33 25J.000
U H depcslts
deducted . 08,091,000
ACTUAL
I This week
excess reserve JH.8S8 1100
tioe
llPJni all rehruarv niaturltleM l..,n..,
slid most Important matuntv In IVbruary Is
14 V41.00I) Oregon Short Line Us. due Teb-
uiy 1 inrse uie aireaey eeen provided 1
fur hv the sele of a new lesuj of S per cent
liends. I
An, Inrroate In falljres this wcel followed'
last week's moderate reduction, defaults In
the United Hlntes. as reported te n O. 1
l)un & Ce.. numbering 501. This total ,
a a 1 per cent above the number shown
last week and tentrasts sharply with the 374
lnselwncJe of this visk of 1020. I
Geld experttd te America from Londen In
the week ended December 21 Is eKlclalli an
nounced as amounting te 828,500.
i.,0?1 lm.pn.r.t." . itr ,e" ,lny '" Cci-ember
10 totaled Ill.ln7.njK ami ..vr,,.. tniwv
n no n(wv i', "Cfflng te the Federal lteeerve Uiiard-.
12,110.000 )old Imports from January 1 te December
iVsnil."8 71.2J5.708 anil experts. 2l'
17Vh
57 1
11
li'H-
:i4.
!!) 4014.-1- V
51 51 1.
27 27 . .
03 0S IVi
tNet change made by comparison with last
sole en New Yerk Hlnck Exchange
Total sales. 4030 shares, compared with
4121 shares esiurdaj. Thus far this wrtk,
1 .IS JI3 nlmris
I riiu.AiisLriiiY neNns
100 Liberty 1st 4 Vis '17.
1000 Libert 3d 4Vis '28. .
150 Libert 3d 4Vis '28..
1000 Libert 4th 4V4s '38.
500 Vlcterr 4s '2.3
1000 Hell Telephone 7s...
NEW YORK BONDS J
Ar Hep'e 0s
4 70H
0 77
Canadian Nthn
O'.ia rets
1.... 1074
.... 107H
2.... 107
Canadian Pac
D wl
8 78
Chile Cep'r 0s
2 84
3 84U
Chile Cep'r 7a
01 enw
7 0044
Chlnese Qeve't
IMC 111' Bs
1 45
City of Dergen
8s rets
1.... 100
1.... toot;
City Iterd x ni
0 83K
. 83H
i-uy 01 cepen
hagen 5 Hi
1 80
City Lyens 0s
3 83 U
1 83 H
3 RS",
City Man's 6s
4 83
4 84
Cty Ille de Ja,
nerle 8s
(SALHS IN $10001
1.
1..
1..
2
l!!
1..
3..
1..
10..
10054
100 v.
lOOVi
100
100 Vi
100
100
100
100
City Teklo 8s
1 07T4
Cuban ASM
1.... 101W
Cuban C Mug
8s ata
40 C3
Cuban C 8 ev
1 no
7 87
1 87
17 07
C'n C a cv ct
1 53
1 03
Cuba Tt Ce 6s
2 77
Cuba nallread
Ce 7V4wI
3.... 10014
1.... 1001,
2.... 100
Denmark Cen
ct A 8s
4 100
Dnm Rep a fli
8 85
D Canada '20
1....
10....
18....
1....
13....
a....
D Canada '31
3.. . 05
Geve't French
It 7Ws rets
10....
4....
1....
21....
1....
1....
1....
3....
11....
40... .
21....
1....
7
Geve't F R St
1 DO.
1 00S
4 OftH
1 09 Ti
Cird Trunk of
Can Gs rets
1001J
0614
07
07
07 K
00H
04
04 T4
OS
04
04'
04 ,
04
0414
05
04 T4
04 !i
04
2..
n
:'.'.
n..
4..
1..
1..
00.3(1
07.20
1)7.10
no. 30
00.02
lOS
lets 100
1000 Philn Klectrlc 0s lets lOOXi
2000 Phila Hlectric Cs 100
1)000 Phlla Illectrlc fls 100 S,
Total. 2S 71(1. eomeared with IIC02r,oe
yesterday. Thus far this week, 15 003 050.
1000 Lehigh Valley general 4s.
0000 Phlla Electric Os..
0 171. OOft
8 SJ7.O0O
U30.221).
With 120 000,000
In eight te purchase
merlran feedstuffs for Russia, all grain
8 044 000 er'? liro'len this wetk have Increased In
t.4i. due VB,U, compared u th a week bin. wh.ii
this morning was up li te 5'4 cents 11
220.180 00,) Xi&lt ,n"ir'li? l 1 -1' S"L'" ,. 0.at":
33.880,000 ahd rib." 15 te 32 cents "'" ""'" '""
B7.T20.00el L
The annual meeting of the Baldwin Loce.
. m"" Works will b held March 2. Heeks
Last week close for stock of record January 21
37 0111,400 I
:ni 7i3,eiii)
dee 4.4ilU.B70,0OeV ,Tn.0iwu.';t.h,H'".1'1'""1. U"" """red by the
uw '"" ""v'v I eiant Portland Cement Company en Its pre-
,'""" """inJ.'' "" "' iiisnursemeni s nee
I Jsnuary. 11)20 The preferred Is a 7 per
000
-ft r.i . ntu 'vivuviwij. itfi'i 1 lie,
,0 01. ,000 Cent cumulative stock.
LOCAL MINING STOCKS
TOyOl'AH STOCKS
Rid
fash llev OS
Jim llutler ed
SlucNamara 11
t'tesrent ,. OV
MI1 mil 07
Mlxpah nxt Oil
Mentana 05
North Star 03
Rescue LuU 16
Tennpah Kxt ls
We.l r.nii 7
West Toneilnh . .04
DIVIDK bTOCKB
,01
02
01
DEl'ARTMKNT
IllRHAl
Sealed propesnla will
opened at uoem 210,
. n.. December 22 ln'i
knt ok pi iii.ip rA,,,,,-1
IIKAU (IK MATJKIl te
"21.rfcl.5nr.'S??. ..!'!
orfleTk neon, en I rltluy, Jnnmirj- n in.
.a. Ike fnllrttl 1,,.. '' 1V.
Contract Ne 640 General rn,,.,,
and Teundat ens at lleiment Pumn1?ig-r,,if,tien
Contract N". 5VI steel Plate I.1 JX Hta'
Contract Ne. .".50 Patent Conneetloi. .
Queen Lane and Relment Filters ce,1s l
Contract Ne 500 Piping nt On,.. ,
and Lardner Pt I'tuiipin, Station. X an'
Cm M?i ' - iw Transmission J' uar
acter and there wns little pressure
CHUESSII Steadily held but quiet New
ber banks und
reservn banks
Oats opened Vs te "t higher. '1 rode Yerk, wheli milk Flats fumy, JJ'4 628. Resene In State
521,013 000 634 123 000 i
was llghr ind between locals.
V beat-
May
JuW
Coin
May . ,
Julv
Oils
Mti .
Julv
rerk
teFTllSir flPiep5.02-8"8' ,Uc" nd bin,
Fer full InformntJen and particular. .i
t Iloem
70B, City Hull "'"" PP'J'
FRANK If. CAVEN.
Dlreet'n.
Lard
Tanuary
May
Ribs
Ijii.irM
Mav
Onen
1 ,7,
1 nt'i
r..i4
50.
,1s
30 V.
0 13
B 0O
8 13
High
1 17',
1 05T.
10'j
40
Lew
1 1111.
1 04'.
,-v,
3-S
( lei,e
1 17'.
1 0V,
-nu
de-
0 227 000
Ii 212.000
0 17
8 0.1
8 21
0 11
no
s r.
14 83
16 01
8 72
0 13
de. fair te geed, 21WJ2C uuigherns. 2JW naiiKs unu trust
jaWc single dalsl.s. 21V(Sj, Jobbing ceinpinle.
sales "f fancy goods, 23820c Reserv., In State
LIVE POULTRY Fowls net L-gherns, 1 2VV
fknc ful ellevv.iltliiiiedi wilshlng .1 lbs I ,00mi?aIny d'1""
each or ever, jewint., nieuium iiuaiity ,gu vi. demand
..I., lined,,., ..-". -.-. ....... .,...., posits
is . sering chickens faivy. ye low- n-ir. a 1,.
3!)'i 1 skinned Plymouth llet,ks welshing ft lbs. A rtulHtlen
' r vi.L.,r"f::nf,.1r,pvrln.;,'nI ','" -y.s d.pe.1,.
rhlekin. riot " Leghe7n: InfeflerV labitc, Ge"UC,M '1
white logneru i;uit..vi;iin ioiy.ec, 01a 1
r.n.ters Hlsc. turli . fune ,1(ic de.! BUTTER. FORS ANn r.MFPSP
fair te geed, IS&ISc ducks. Mt Pekln. . , ' ...-- - --
niift'2Hi tin mixeu cuiurn 41'irec. ae. .rvr .um, i.e.; i j.u.ir.u unsvii.ru
Muncevy liiW 17c, gtess, JitTJIc. guineas, . Receipts. 10,277 tubs. Creamery, higher
LIVESTOCK QUOTATIONS
3 870 021.000 3.803,605.000
218 201010 217, H.'J. (KID
33 2S2.00O
.....' Chlrage, D(c 24 C'ATTLi; Receipts.
8 951 OOO 200 head Compared with week age. lleef
ntcirs mostly 2ltf80c lower, plain te me
dium grades rbewlng full ibcllne, she stork
I cenernllv nVlffsOn Invver t.nl ni.,Aa ...
c nni r.rui ?..:'..-.:,:";.", " :2JM'".
., .,w ww, 1 , ,i ui,, BivcuarR aim ireuers
Lulls nuc lewer
1IOOS Receipts. 8000 head.
5W10e lower
Active nnd I
8 01
3 22
TltKANURY UhPAUTMUM-. Wtinervlslng
Arehltecfa umce, Washington. D c
Decsmber 1.6. 10 J 1 , SI3ALBD PROPOSALS
will be epefie.1 in this eltlte at 3 P. M iaiS
HV ."'.i,'.--7iVi rA 15Tr..",".'.w",r Ping.
pbla. I'a , In accordance with specifications
and drawing-, copies of which may be had at
this Offlce or at the office of the Custodian
rniiaueiiui.tt. 1 ., in in discretion nt .
Ac
pervi
Ilnar
SiipertlHlng Architect.
1..
WBTMORE.
BANK CLEARINGS
llU.tOII.OOO 00 180,000
33205'oeo Mr,,n' ."L 15c higher than eterday's aver aver aver
o.i..ew pu Wlh ncnJ u m0llli shippers bought
00 180 000 "brut 7500. go id ilenrnnres Tep 17 80 '
te IrtO-peund avernge, $7 .10 for 180 te HiO
pound average, bulk, I7O7.40, pigs 10t)13c
.UV.irr . I
SHKKP Receipts. 1500 head Virtually
all packers direct and all en shipper ac
count Compared with week age Fat lambs
sneep and
1
Allied Divide
Alte Divide
Ilcli her . .. , .
Ilelcher Kxt ....
lien Hur
Ilreugh Divide ....
Divide Kxt . . .
Divide Cen
Dividend
Kaat Divide . ...
llarmtll ,. .
llastirnurk Divide
lllgh Divide
Knox ... .
Revert Divide .
Rene Divide
Reaeta . .
Silver King . .
Sutherland
Tonopah Divide .
Tnnepnh Haslirnuck
Victory Divide
Verde Dlvldn
Zene
.0J
0J
20
ni
.ej
.01
.12
.02
.no
.01
.01
.01
.01
.02
no
ej
,0J
.01
.12
Animal Kleytlena
Tun penn jiutitat. T.inj"
INSURANC15 COMPANY
Philadelphia, Dei ember 17, t0"i
Th Annual L'le.tlen (or nine trustees'te
erv tbrse years will be held at the home
j. ' ,.!1.,.I?emp?ny..ln ,h l'nn Mutual
Ktlldlng. Sixth and Valnut streets Phlla'
Jslvbla. I'a.. en Meudur, January 2. 1D22.
Vitwsea tna beura of 10 A. I. and 8 P. '
Y 8YDNKY A, SMini.
. Secretary.
Hank iltarlngs telay compared with .ame
duy last two ears
10J1 1020 1010
Chii age 7J f.en ene
N Y 0.18,600.000 . . .
lloslen 44.000,000 Hnlldav
Raw Sugar Moderately Active
. .,. rt , , 1,........ .. .,..,.
,u inr. un - 'wipiniB hi i.vny ne " 1
vel.iped In the raw sugar murket at the close "eirh'ng 3H lbs 214J24C. weluhlng H lbs
of the week, local renners tsklng about 75. ' w.Ji ,.n,ler- 1H(32(ie. Heastliig chickens
000 bags 010 crop sugars lur lanuary ship .'-.lern drv-Plcksd. In boxes weighing 414
1 .... Ir .l lirhtii. 1 8-. Gil tl.u -. r.l..n,. thnn .trs i J IX let Iaa srin.rv Tiiiiai (1"
Sr iTi 130. weighing 14114 lb, uplcce. 8(iu "core 4mi42c. firsts. 88 te 01 score. ?"", IIat""t" ' ,."J. '"WiVV i.
... u..inaa. filil. iisr l.slr .-.Orici.ne na. fn(fl41c. Iiackln.r steclt. current make Ne. ..,. ...,,.w- , w wu ..is...
eons i""e pair. old. 30835c young .'1c 2. He
rn.fu.tn POIItTRY Snrli...- t..rK.vu 1'f!3s "(M'lV Receipts. 11 fifll cases PIMtfnirgh. Dec 24. HQOS Receipts 750 '
DHKSP0,"", t,n7.V '-TV ,D,.r,l,lfyi'' Tresh gathered extra firsts 50 RSc. firsts, head Higher. Heavies 17.7ft. heavy, light
r.Vif.vJi.f8 vi?lnli Ind Wei? Vlrvmia Sev B;i( ,3e- Nnw J",e' hennery whiles extra icrkers and !!. 18 258 35 ' '"""
64r.Hc, Vlriclnla M l ,V,.v y" fncy candled selection. 78c nearby and 8HKKP AND LAMllfl Receipts. 600
I i.acKvJ 'iW, "ru,'"l AfAl I',, nearby Western .hennery whites, firsts te head Steady. Tep sheep. $3, top lambs.
phi aeu. .'',,' Mtnm 111,1,;. ' .. average fancy, 04W7JC nearbv nnd nearby $11.50
nary 40 4 Vs,eW ."m urkeyg c Wislsrn hennery browns, extras. fl3n6e. I I'ALVKS Receipts. 100 head
I Fowls. fresn-Kiii.u u.-i.v.r... in oex, s
wnlghliiB 5 lb. apiece, sue. weirning 4 lbs ,
I 1 if 3JC weighing 3M. lbs 2127c. welgh
'ing 3 lbs, 21CJ2C. Fowls, fresh killed. In
I bids dry picked, weighing 4'4 85 lbs
..n7fl:iir wi inni ins. Nit'jnn
iiwrn i.ct.nvry i.ruwns. esiras. imvihec. v a r,r-
de gathered browns ,u.d mixed colors rlrsts Tep. Ill, 50
in extras, eyijiic, nrngerater, arsts, 30
40c
CHUKSK steady. Receipts. 476 boxes
State whole. milk, flats, fresh, specials,
21i(ff22c, de, average run, 201, 2lc: Slate
whelemllk twins, si eclals, 21 Vi (822c, de,
average run, 2e4T2tc
Steady.
liist Ilufftle. V. V.. Dee 24. CATTI.i:.
Receipts, 780 heud Steady Very alew
-an. nt
(.Live, leulpts 101) h
steady. I.'IOJB
IKaa-KlOHTU NATION l, II INK
"' I'lillodelihla, Da rmber 111
10. 1021.
Ths Annual ITIeitlen for Director will be
kM at die lMnklia- Heu.e. nn Tuesday. Jan.
! ymM , JO, MM. 'K-tweea th hour et U
Wi..'K.?IiS-
-n.rvii,j ii. tuuai,. vixuirr.
tnent l ill corns i."i unu ireigni nnd i i-.Ti,' ind ever op ece, 34c, we gh ng 4
llVCi..y Reserve Dank.' Discount Rates
versa vfe g i
1.1" ... 5flJ)21e. Reastlnr chickens T'hilarte nhla Hi 414 4'a 4
Paris Bourse a
lui. ,." i,i), yvi
75c higher lleavy.v 7 73W8: mixed, 18 2ft
fru r.n. verkers
pigh 18 73V 8 00
14 f 4. no
r... ,,,, .,.., . . .
roughs, 15 7300, stags"
,.. unleOS. UIW.IC.
"- w ...Ai..ltin. J flc 1 lh. nml nuee ,nl... rn..l.nrt
r chickens, nearby, welsh, nlnhmnnd .... 6
Purls. De 24 - Trading whs nulei en h i, u les apiece. 27 f 28c Rrelllrg chick. Atlanta
l!,,nr.,. I ui. ii ThriH pt-.- tent r nles 64 -.,. n.rl.v. we ghlnr l' W2 lbs ap ece. 81 Chicago . ... 6
francs pn ci Mimes, uxrhangs en U.nduii. ,1J jfiina (.hlckens. nearby, weighing 21'it.i St. I.nule 6
francs .l centimes, u ivr cent lean, no ilbs. apiece. - wi y.u ...,.. v..-.,iu.v.n, sunneHiK'.i. ,,... ri
francs 20 ccrtlmes. The dollar was quoted Western. 21e! de, de, Heulhern, lOWJOc. .Kansas City ..... 6
at 12 franc MVt centime. The eure will Duck. 82&8eCi aees. fancy, 20O2ae de, iDalla Jli
h closed en Monday, lceftber 20. fnlr te reed. 202Je. san Ftaoclsce .. 0
6
n
r,
6
,1
5
5
5
5
ft
ft
eV
SUV:!;:!' AND LAMIWRecelpis 400 head.
Btiady Lambs, -I1W12. yearlings. 5
nan ueth.rs 15 &0W0. ewes. I'Jfi.K mi..j
sheep. 13 5,60
RAILROAD EARNINGS
DKIAWARB WJAWANNA AND
Quarter ended September 80
lu.t
6 Gresa ,
614 Nit after tax ..( .
e i Tetat incui.is .-.
W Surplus after tbr
6 'Decrease-
Innrai ua
.IJ2.432.014 M803.743
a,iiuu,.-.u
8,033,897
0,020,080
6,510,003
2.041, 231
8,033,700
Reeth ....
Combination Fraction
Crackeriack . . . .
Diamenuneia ji it
Florence . . . .
(leldfleld Cen . ..
Geld Development .
UnldOeld Deep
flreit Rend ...
Jumbo Kxt
Uewaiuis
GOLDF1K1.D STOCKS
HJ
lne Star
tire
01
.02
.28
0.1
.01
01
.0 '4
.0,
.02
i.re
Red IIIHs 001,
Sliver nr u
Sptarhead 01
MISCF.LLANF.OUS
Ainpare .. . . .81
Arltena United . . . . ,0ft
Caledonia 02
Kden .., HI
Kmma Sflver 02
F.urrlta Croesus 27
Furelta Helly 00
llecla .. 4
Mether Ide 8 00
Nevade. Hill 01
Nuvada Wonder 22
Success , 02
Tecona Mining ni
White Cap OS
Wllbert .. . . 0J
A.k
01
07
.11
07
DP
08
08
.0.1
.18
14
.81
.0(1 I
0J
01
.03
(Id
ni
.04
.22
!J
01
02
14
03
01
.11
0'J
.02
0J
of
.til
04
03
.02
13
03
nj
.04
.01
.10
01
.OJ
.OJ
01
(II
.02
.03
.e!
(10
,0J
l.oe
.10
.01
.10
.03
.211
01
4 '4
10,00
u
,03
.10
.04
.03
AR 8ILVER
Deinvstle bar silver was unchanged In
New Yerk today ut 00 fv-7c per fine eiTnc.i
foreign, 04 c. unchanged, .In Londen tha
price was unaltered at 84 'id.
100
100
100 K
100 .
100
100 M
10O1S.
Or'd Trunk efi
of Can 7s
4.... 108.
Jap Gev't lstl
1 86
1 87
1 87
2 87U
Jap Gev't 4s
2 73
-'.. .. 7214
K Ilelglum 6s
1 .... 01
K Relg'm 714
1 ... 104
1 .. 104
K Oelg'm rets
103,
Kingdom Den
mark 0a wi
15 Olli,
10. ... 04'
10 .... 0414
Kingdom Den-
mark ct 8u
3.. . 108H
Kingdom Ner
way ct Bs
1.... 100
4.... 100
1.... 101)14
1.... 100U
K Sweden Us
2 05
1 04
Queensl'd Kxt
Lean ct 7s
1.... 107
1. .. 107
6.. . 107
Perte R'n T 8a
1 03U
Rep Chile "20
n no
0 00
2 00
1 0014
Rep Chile 41
1.... 100l
3 . . 100',
2 . . 100
1.... 100
1.... 101
Rep Chile '46
1 00
0.... 100
B.... 100
11 .. 1001
2 . 100
Rep Cuba 414 s
1 .. 70
1 711
R Cuba Ss '01
J .. 84
1 84
3 .... 84
Repuli of I'ru
gu,i 8s ,
12 1021,1
2.... 103
I.... 10314
mate or Sua
Paule 8s
1 ... 10014
1.... 10014
1 . KKI
0.... 101
bnltz'd Cen Ms
10 ., 1124
U K art Ilrlt
& I'd 102J
1.... 100
3 ... 1110
3 1(10
U.K Ort nrit
eVI'd 1020
2 00
11 00
l U9H
2 00
Am Cot Oil 5.
6 82".
A 8 ft IVg f
A 80.
B 80
2 8014
4 87
2 87
Am T ft T ell
1 87
1 8714
4 70i
Amn T A T 6
1.... 107
Am'n W 1" fl
1 82
1 82
Armour 414
0 87
1 87
A T ft 8 Fe 4i
1 81
1 rOU
A Coast L clt
10 70
Atl'e Fruit 7s
2 24
n 24
0 21
4 244
4 24
A Powder 714
1.... 10314
1.... 10114
4.... 103
flalt ft Ohie cv
2 7314
2 73
10 7314
2 73
10 74
Bait A Ohie 4
10 73
2 74
S 70
Oalt ft Ohie 6s
1 77
10 77
ball ft Ufile 0s
8 01
B ft O P L K
ft W Va 4s
2 72
Rait ft Ohie 4
Wn 8148
1..... 80
0 8314
D ft O Tel 4s
1 02
1 63
1 R2H
Dell Telephone
of I'a 7s
1.... 108
1 108
Beth Steel fd
1 02
1 02
Rdn Cep M 0
3 S3
D Kdlsen D 7s
2.... 101
1.... 104
0.... 105
Rush Ter'l A
81
Care Cllnchf'd
ft Ohie 6s
1 83
Ctl PaclOc 1st
2... . 8114
10 81
Cere de Pas'e
Ce'r 8a
1.... 113
Ches ft O 4s
82
82
C ft O cv
1 83
7 83
2 84
C ft O cv 5s
2 84
Chi ft Alten 31
1 61
Chi ft Alt 1
3714
2 87
1 37
1 37 'n
Oil D ft Q cm
1 84
C D ft Q 0.
0.... 105
C ft B I 0s wl
10 69
10 60S
4 00
21 BUS
21 60S
Chi i. O W 4a
1 61
Chicago Mil
St P 4s "25
1
3.
1
0..
0 .
,s
0..
Is
3
0')
00
Dfl
00
0')
Il !.
09
111)1.
Ill)
U K Ort Ilrlt
ft I'd 1037
1 . . 05
U S Ilraztl 8s
6..
0..
1 .
4
1..
10
1 .
15
103
103
103
Mil!
10314
lu I
103
Itll.
U S Mexico 4.
3.. . 40
2 . 101,
3 . 40
U S Mexico .1,
15 . . 53
1 Mi',
ft 63
5 6R
6 53
Adams Kxp in
1 . . . 7.1
S 7.1
Am'n Agre ft
Chtn7
3 een
O Nthn Rd
2.... 100
t(sale) 106
K.ale) 100
2,.., 106
8.... 106
,1,... 106
6.... 100
Hud ft Man fd
2 73
1 73
1 74
2 76
Hud ft Man In
10 48
III Central fd
2 83
til Cenl'l 5'4
1 67
III Cent'l fl'4
1.... 107
III C St L ft N
Or Jt II 0s
1..... 80
1 8014
III steel 4s
1 87
Info Met 4i
10 0
0 8
Int M ct 4t
2 7
1 7
Intb'e II T fd
20 52
2 52
17 52
4.... 1952
10 62
1 M Marine 6s
2 88
1 88
Iowa Cent'l 4s
1 84
Kan O Ft S
Memp 4s
1 74
Kan C ft a T
7 01
7 03
Kan C ft S 5s
6 81
Kelly Sprlng'd
Tire 8s
8.... 103
Lehigh Val 0
6.... 101
Leuis ft Nash
5a wl
25.... 102
3...
1...
1...
1...
0...
10...
10...
10...
10...
3...
1...
102
102
102
102
102
10214
42
102
102
102
102
102
102
102
102
102
Le ft Nash 4s
1 81
Le ft Nash 7s
Ksale) 100
1.... 100
1.... 100
lilch S Tel 3s
1. .. 04
Mid S ft Or 6s
88
Amer Fuel Oil
Amer Fuel pref
AU'ed Oil ..
Beene Oil
Renten Wemlne .. .
Carlb Byrvl
Cities Service (old)
Cities Service "II ' ctfs.
Continental Ref
Creele Ssnd
Klk Rasln Pet
M StP ft S Ste I Knglneers Petrel
Marie 8a ireurrai ui
h .,, Ollllland O'l
2 J5 Glenrock Oil
0... . 00 flpennrtj :
M K ft T aj wl Hudsen Oil
10 44 imperial uu
mi reirei , . .
Kc stone Ranger
Lance Creek
Livingston I'et
L)ens I'et
Maiacalbe Oil
Merrltt Oil
Imperial Oil pref
Klrby Tet
Mar'ne Oil . .'
Mexlce01l
Mountain Products
Neble
Omar Oil
Producer ft Refiners . . .
Salt Creek Pred
Slmms Pet
Skelly Oil
Texnn
8.
0..
n
8.!
II..
4..
10..
10..
6..
OH
OS
08
(.8
tiav,
70
00
69
70
Chicago Mil ft
btP cv 4'4"
1...
1
4
6
60
511
80
00
61
00
111
UI
01
20.
6.
11.
6.
.Chicago Mil ft
StP fd 4s
2 63
10 65
2 84
10 (sale) 641.
4.
5
10...
51
.16
.151.
51
51
ft.1
Chicago Mil ft
StP Km 44a
I... . 78
OhlouKe Mil ft
St P cv 5b
8 00
1 00
2 10
1 02
30 02
2 . . . . 02
Chi ft Nwn 8a
1.... 100
Chi Rultw's 5a
1 ... 60
1 . . 07
1 ()'.,
C R I ft P fd
2 . .76
10 .... 75
10 .... 75
I in .. ....
C R I ft V 4s
8... . 781:
C II Sta 4t
Z 8!
Chi ft W 1 4.
1 fill",
C N Y la'0(i
00
00
Cena'd Gas a
5 ... 103
Cum Pre Re I
Ce 6 '34
10 00
Del ft Hud 7
I ... 108
Den ft R (I Id
1 43
Den ft R O 4m
0 .. . 72
Det Kdl Ce 0
1.... 100
Drt v II 4e
1 .. 62',
D Match 7 Vis
4 ... 101
D de Nemours
Pwd r 7s
2.... 103
1.... 10374
Run. Light 0s
1..
1..
1..
10 .
3..
160
1001.
100
len,
loe
100
file tienl Lieu1
10
3
1..
10..
14..
1
4 2
42
103
42
4J
42
Krl It R Ce 4f
5.1
Fink Rub'r Ce
as r:ts
30 . ine
10 . . 100
1 ... 100U
iQene'l Klec r,
1 101V.
Goodyear T ft
RUb'r '31
15 00
1.. .. 1)0
2 en
Ooed ear T ft
RUub'r '41
1.... 110
5.... Ill)
6..,, 110
St L 6 3 Fran
Series A
8.....' 08
8 68
10..... 08
fit L A B Fran
Series 11
7 81
1 81
St L Sew'n en
1 CO
Gt I. Sew'n As
2 71
1 73
6 72
Beab'd A L aj
IS 18
1 10
Beab'd -A L C
1 42
1 42
Sinclair C Oil
Cerp 7H
1 08
Sh Steel It As
2 08
B'n Pae cv 4s
4 80
Sn Railway 4t l (i I ' I
10 61
8 60
2 00
8 00U
Bn Railway 6
8,,,,, 87
1 87',
1 88 ti
Stand'd Oil of
Calls 7
1.... 100
1.... 100
8tee,l Tube Ce
of A 7
1 07 U
Teledo St L ft
W'n clt 4s
0 2,1
Union Pae cv
10 80
Unt'd Drug 8,
1.... 101
1.... 10 1 1;
u s n & i ns
ft 03
.AXetl. 66,180,000. compared
"J" i"icruay, inu
oie.uuu.
! 5
,.,' 1031,
U'd 8 BtMl J, ,
! Mk I
v-ycD.r,,i
1..... ft
West'n Mail '
git.
We'n P0 .,,,
e. ... . ..,
West Bhtirs t,
J JS
Westln.hr", g
g 71
11.... in.
Wilsen C ct
85
Wilsen Ce ii,
2 l
With tin...'
s far this we.k lit,!
Ttt...l- (11. i'Mr. J7. -Cle..
uraij u-jl ,,, 1I1.1V 119,1(1 114 Mil
Lbcr,yJst4U.fW.52 00.30 DOS
Liberty 2d 4V4s . 00.00 05.72 03 ft
Lbcrty 3d 4Us ..07.40 07.20 0740
Liberty 4th 4iis . 00.40 Oft en rmlX
Vic Notes 3s ..100.04 100.00 lOOitw 1
Vic Notes 4s ..100.04 100.00 10001 I
Netv Yerk Curb
INDUSTRIALS
Acme Ceal 1 n;
Acme Packing ,89 67
AJax Rubber r'ght 1 iti
i.riv Ainrr loe reg 12ft 12
rti.rn. Ilpn. n i
California Crushed Fruit, 0 oil
Chalmers ctfs l iH
Columbia Kmerald 75 75
Clntlnenat Moter 11 tivi
Durant Mtoters 25 25
Durant Meters Indiana .. 12 nil
....v.. N.W.. (.,,,,,,, rfl.
ueerges cieinee u 1
ueiawyn I'ictures . , , ,
Grant Moter
Llbby-McNelll
Lincoln Meters A . . . .
2(i(sale) 102 1 National Leather
21 1021 Parsons 'Aute
10.... 102 J "'"P Jierr 6
in n.u iiauiu com 2
10.,.. IO!S hlilll. ruin ( .... S
Standard Cem Tab .....'! 86
Standard .Moter a
Tomb Pred Exp 4
U H I. ft If 00
U S L ft II pref 1
United Profit Hahrlng ... j
United Ret Candy r.
Willis Cerp 1st pref .... 7
."
J'S
B?
1
K1
5J?
7'i! tSft
"!4 Se .je1?
s$ 4 ill
1...
1...
' . 6 V
ri
IH
.1
4
81
STANDARD 017)
Angle-Anrer Oil , 18
Imperial Oil Can
Ohie Oil
Eureka P L ....
Stand Oil of Ind
17(4
..l"OM) iue
...270 270
... 81 81
. . 87 87
INDEPKNIIENT OILS
60
2
4S
2
20
78
4
104
21
A
,v
ns
lb ft
.? 3
lu 10
u-i
. 71)
. 4
.20(1
. 21
. 6
. m
. ui
3 44
7 44
41 14
7 (sale) 44 S
8 44
1 45
21 41
8 481.
Me K ft T fd
3 73
M K A T 2nd
IS 40.
Me K ft T (
1 74
M K ft T 4s wl
2 04 Vi
37.. MiuV Oil
M IC ft T Bs wl Tidal Osage
2 77 MININO
10 .... 77
1 77. ' Alaska Rr Columbia ....
. " Ii.? Hie Ledge
.... . Hoeten & Mentana
J. . 771, ' run. Pnnnar Vtln.e .
M K ft T 6s wl I certei Silver
1 00 crcesen oeld
17.... no I Eureka Croesus
18.. until 49 Mining
t enii Oel'l Zene ,
I .... DOV4 it..j e.....
Mr, ... cira.u Ollcil . . .
, e Pacific 4s iiarmlll Dtvlde
3. ...-00, Iren Rlossem ,
1 .... 00 Magma Copper
Me Pac 6s '05 Mets'can Copper
1 ni itllllirr OUI1U 1..C
v.v; '.'-.,' t. I National Tin .. ..
New Or Tex ft L s,ada Ophlr
vicAive os rut Jit Shasta ... .
1 63V Se Am 1 ft U
N Y Ct'I 8s Tonopah Divldi
3 . 73 ' ll"lliwn i-,.i-.iBiui, .. .
V V i-ll -n lu lonepiin .unnin ...
is I ( 11 Cn I ilnl.,,. !ni,lnrn
0.. ..78 I
N Yk Cent'l 0s llOM.S
1 07 Aluminum 7b Ml .
1.,.. 101 I Am Tc Us 23
10..
16
70
16
1
61
22
8
7
16
1
1f
10
14
7.1
0
11
11
5
71
28
VJ.
2
2S
9J
1ft
81
2.
27
14
14
24
40
21
40
AT
17
II)
J6
6
04
1
1ft
2
0
16
76
0
1.
63
VJ'i
814
is?
1
1ft
in
14
71
6
11
11
5
70
26
12
J'4
28
0"
84
-
21!
II
14
21
12
IS
21
46
1
51
10
L6
r.
01
i
2
4
81
1
nr
87'
CO
21V
21
:e
ai
It
10
1(1.
74
11
!
14
it
7
11
9
:
m
n
23
81
1ft
8I,
2(1
14
11
21
12
40
JVM
4D
'.
31
40
:
3V.
l)(.
10.. . lUltAm 'rtl c" "' "
1. 101 U ' Anacendi 7s "JO .
Yk Cent'l 7s n htel 7 '-"'
TJ- till I V 'IH -
N Y Ldlaen Ce r, ,,, sieel N.
0'4s reta cel Graph 8s
1.
1...
1...
(I...
3...
1..
10,1 dins Tixtlle Bs .
101 ripper Expert 8h 'i4
105 14 Ceiiper Kxiwrt 8s "J
101 ij ( ulnn Tel 7s .
10.1. (loedrlch 7s
i..1 (Gulf Oil 7
"?? . 11, ,.i.i. nn 7.
1 KIM I'lUIIH.M uu .
N y't,i sui I Intorbero 7s ....
NY Tele 4 j.Ht (.!! Ss ...
10 89'
N Y Tele'e '41
1014
5..
2..
3..
101
101
101
101'
101'
Oregon S L Bs
t)UH steei ss
Phlla Ce Os
1 llllil lil'C s ...
Philips Pet 7s
..in)
0')
.. 71
.. t1
. l)il
.. 08
. . UI
..100' 1
..102
. . 118
.. 07
..U'J
. .101'
n
101
101
10JH
i4
103,
VSil
71
t1
m
m
1(10 1M
104 1M$
en m
100 100
Pub Serv N J 7s
Robt Ualr 7s
Shaws cn 7s
New tNIIa 3"'h,T nVll 1b".
Hart'd 0s I s O N Y 7s '2d ....
2 53 ' Kvlft 7s "J.I . ..
N Yk W C ft Texns Ce 7s
Dest 414 1 Tel Kdl. n 7s . .
n nn ' lTnlle.l fill S
Nfk&'ivn IslH" n' ,J?ir.ni VA
1 S'S' 1.CUU111 'i i-
LNerth We.te'n ". 'Tn . .1 ",u. . .
D.9" T 7... Argentine 7s . ...
1.... 100tvi.M r.v, u
N Pntlflc It .Is Ger Gen":iee 4s ..
1 uuy,
1... . 60
0. . 80
3... . 60
N Pncllle It 4s . . . .....men.. r.t Bl
20 .... 83 1 Lecal txenangea it.a re. w...
mi,uM Si' I low Thls Week LaBt Year V
Nth s Pwr .is Anether week of dcciinnig -
1 88' ... , 1.. ..i. ., i iim fieiires com'
P Coast Ce ,1s wren ngs ,.. "-" .tlM
Cllll ilUU "
102 ie:. 1024
ine ie ion.
(ill 00 MJ
, US) W M
.100 100 103,,
.100 100 10"l
.100 IDS 105
. fi) 9'i'4 l'H
40 ID 40
. ns PS
101 101
H3 101
KM'. 10 I
linvi mi'i
101
111
74
er
11(1
llHl.
01 04
iiiu lecu
101 101.
07 1
102 10J
101 leti
...100'. IdO 1",
...104V4
. .. 00
1 nnTC
. 101 104 101
117 l
101 101 101
.106 106 lJn
. en "" .5?,
ion's inn ij;u
... 0714 07 J. 01
... 1)4 0 "i
0 9
DROP IN BANK CLEARINGS
1..
75
niiA.i !. 4Urt finmri
1 U 88V I Cbronlcle, which ijivcs the BKitlw
I:"" 87 exchanges nf 'the principal cities of 1M
Pac T 4 T 6lceimtrj ,, .f7.105,40fl,0SS, a.-..'
1.. .. nut e imr. Vni nor tlilu iiepk lust .vfer. ?'
Packard Moter JC' 'f"iJi"B ,.,.f Detieit .
Car Ce fls ".A.. 7.. ii n.n .....nitrv te enew
enij cn j in me vim. .
1111 Increase.
joinpariseiis mil"" v
P.c
1.... 100
3. .. 100
10..,., me
Pan A Petr'm
A T Ce 7s
1 I).1
0 05
Pa R cm 4s Husten
1 .... 81 Kan c.
O ort,, St. IlUlH .
mT"-" 'nV,' PUUburU..
I? M'. Ditrelt . .
1 Dii. Baltimore .
N Orleans
Increase,
'i siaiii
K,n 2,5Vo6e:Oi;o 3T0 11J.J46I
liru .nn T T. 1
15 014.
Penna It II
1.... 101
2.... 101
1 . . 10.1
Penna R R 7s
11 1. nt 4 nn-'
112 200.000
107 IIDO 000
160,000 00ft
8(1 711 160
64 606 712
U.DOS.'.'SI
SMI. 8.811.
se'Si: HI
70 j.i;j.J!
74nii;.'js
r,8.404.17ll
DIVIDENDS DECLARED
tt
P'"t ??.'"?.. C'f'"'ri,n'-0ImnS.fy 18 '
Cl r.l nil prrirricu. ,,.... .-----
1 ... 10114 I Um k of record Dtccmber .i w, j,.
1.... lOd Arlington Ml Is. quarterly.l-. PiDi.'
Per. Marnt Be - uary 3 , . e 'J nU.'
Phlli'llwy, 4. , ''' January Ojoteckj ncerc. Pc 1
I .... 411.
Rrndlnr Ce 4
-' . 81
1 . . 81
Reck Il'd A ft
Leul'a 4 Van
2 76
7 77
M L I Mt ft 8
Railway 4s
t.. . 79
St L ft fl V ni
3.. .. 71
1 .... 71
1 71
1 71
Bt I. ft S V In
ft 64
1 51
3 84
t .
ai.... ..i. rvrkniKies Take Holie-f
V erk .IAe... 21-:. rolte... M.'i
rnnee line i-rouuce ...v
closed today
Londen, Dee. 24 -All markfl- h",
n Liverpool are closed until next "cnl L
I
faaaaaaasssaaasssseasieflfeieesaaaaatseee.eses '
iNAJiC!AL '
IANT .PORTLAND CWWjXf?
twit-uiu ieiinxn' "".Viirii 1IJ'.
PhllBdclplila, Dee. J3rH. "j ,
The Heard of Directors have
ave "",-.
dividend of four. (4) l'r 1 Jit (
the close of business I)ec'nilr SOtn.
Checks vvll i tnaiiea. :",,': .1.1, WS
will remain closed from I '"'' AJ i'sliM
te January l.fjftjfflf!$li
'L
.v' v
. x