t'j i x iV" ,u ! - N 1 ,U" 1 !.. EVENING PUBLI& VL: i In . t e. , . : :- . --1 r I i t Uv L k m vs2vxv M'U m?iv DIGEST of the Revenue Act of 1921 A carefully prepared analysis of the provi previ sions of the Law with useful tables for.cem puting taxes. Free en request "Tie Nat'enal CityCempan; "hlladelphla 1421 Chestnut Si UUntlc City Chalfonte Dleck 1225 Boardwalk . H. Rollins & Sens Founded I MA Investment Bends 1421 Chestnut St'., Philadelphia Thene Spruce B10O Boiten A'etc Yerk W'ilkca-Uarre Baltimore Chicago San Francisce City of Cleveland 5 Bends Due March 1, 1969 Price te yie'.d 4.35 A Lecal Investment for Savings Banks and Trust Funds in New Yerk State 1 American Smelting and Refining The investment position of the securities, as we view it, is clearly stated in our recent analysis. Present and future earn ings working capital efficiency of management these and ether points are. discussed. Copy of this analysis sent te investors free of charge upon request for circular Ne. 253, accompanied by 2c for postage. MOODY'S INVESTORS SERVICE JOnN MOODY, IY-sld-nt 1124 Real Ettati Trust Bid"., Phils.Ps: Nw Yerk Bestin Chicago an y -tea An "old-line" Public Utility Bend at a big discount Wc offer a limited amount Washington, Baltimore & Annapolis Electric R. R. Ce. 1st Mortgage Ss The Company's Preferred Stock is lecehinfr dividends of G9 aud its Common Stock 47c. This issue has ever nineteen years te run and is selling at a price te yield 7.10. Details ok Request A.D.C0NVERSE&C0. detnmcrcial Trust Bldg., Phila. New Yerk Haltlmere Bell. Locust iSOt-ej.lst UMaWaaMaWl?ftljlaMaWWalJ J-.Mue 1ml n m."u"" Mi; lie ice,, Carthife tc Adirondack lit 4 1981 Terente, Hamilton ec Buffalo lit 4s 1946 Atlantic & Yadkin 1st 4i 1949 C. C. C. & St L. (C. W. & M. Div.) 1st 4s 1991 m v Widihiii Bum, Philadelphia - MtJnt.JfecrafW ' HiwTOtK (unarm, n j. U-...L, ' ' IM3MP1 w ir.vl nu ie New England wrtaa . i i' Oil Refining Ce. , UnC ktran k. 5 , 7 Serial Notes Te Net 6 t? 7Vi I according te "maturity I Tax Refund in Penna, Baker,, Ayl:ng & Yeung TPSEPII V. ttWAt.V. Jr.. Jtanurtr 1 t'4 Title Bldg. !.(.. Pl.il. J. 1.1.1. r,'a wi,' Pw - ..WHfpUfV am b , li PRICE MOVEMENT J. I HH? AGAIN IRREGULAR Tree Cevering of Shorts Pro duced Animated Rallies in the Afternoon New Yerli, Jnn. 4.--l'jctrcmc lrrcgtt- arlty marked the Movement of today's trek mi.rlcpt. There was in centlnua- ion of pressure en the int'.t -triiil list t the outset, but immediate after the titlal operations the reactionary cur- cuts seemed te have spent their force, nil for h time It looked as If ranch of hi' ground lest jestcrday would be re- rlced. The rnlltcK, however, run Inte .t fresh selling movement nreiinil mid- ay, emanating, according te the beard I'pertH, from Western wnirccs. In the tvrnoen, however, lowering of the cull nte te -1 Vfj per cent sent the shorts atnperin,? te cover anil In the final our prices rebounded with n consider- bio (leg-tee t( animation. Whl e efforts were made t locallze the Chicago bunk difficulties that Inci dent Ml 1 figured actively as a market factor. At the same time nttcntien was redirected te the utisatlsfncteiy ton ten uluin. of the meter industry by the -i neral expectation of ih passing et the Oncral Moter dlldciid this after noun. The liquidation piciurc. how hew cer, Hiif prempteil bj tin- Chlinge sit nation and the recent si!pciisi.in of I he tig wire house. In a enc ihe tw were closely detctni.ed, in that lu both cases i here was inidui'stietiably utllti' ii geed deal of enfened unloading of ".cr-extended accounts te relieve the tension. I'nderneath the vtirfa-e there was. ap.nr ntl running a feeling of '" I eiiMiieM mid there wax nothing In the) Hewn lliii' of a constructive nature te I offset it. The Chicago bank situation i itjirl been se ivp'l pitnrrlnil tmti! nrrnncp- I incuts were (Otnpleted for the rewue that inititrnll the question arose whether there were any similar condi tions elsewhere. While some further weak commercial spots were acknowl edged, these in position te knew Mated emphatically no further bank troubles were expected. On the ether hand, there was no evidence of the evcitement which prevailed yesterday in the grain and cotton markets. Leading foreign exchanges, especially French and Ital ian rates, hew'.ver, continued te reflect tin ertaln financial and economic con ditions abroad. The call lean renewal rote was fixed at ."'-. per cent, but the liberal supply of funds foreshadowed a lower rate later lu the day. After the lower opening oils and feed specialties led the covering movement. Standard (111 of New Jersey. Meet Sugar and Seuth I'orte HIce Sugar we 2 te 4'.j points. Tobaccos, textiles, rails and shippings also strengthened. Most gains were canceled before midday when eITerings of meters and rubbers assumed larger proportion. General .Meters, wnev (iirceieis meet, ancr inci cle-e of tin' market for dividend action, was heavily sold in lets ranging from UMM) te 10.000 shares, down te ,s, a new low record. Further weakness In Kelh -Springfield extended te Goedrich common and preferred, and Cern Prod ucts and I'nttcd Fruit also became un settled. Shorts engaged in another covering movement in the early aftcruoen, fol lowing the sudden lowering of the call money rate te 4' per cent. Sugar.-, equipments and mail-order issues werp most favored by peels at gains of 1 te :'j points. Flsewhere. rallies of 1 te 'J points from the low prices of the morning were registered. Cevering of the shorts became mere urgent in the last hour and some, of the peels taking advantage of their dis comfiture bid up prices rapidly among their .-pcclalties. There was in con cen squenee a marked improvement lu prices In the final dealings, advancing some of the equipments, oils and tex tile lisues one te three points. ' ' Commodity Markets GRAIN MARKET ? Chicago. Jan. 4. Wheat market bad, e strens tone. Confidence appears te be restored aud the situation was stronger. The weak long interest had liquidated and there was less te be feared from that quarter. Commission houses generally bought at the start and. In the absence of offerings forced a bulge of three cents. Locals fold oil the bul-e aud later LuMern houses sold. ' but the dips uncovered hujiug and1 finally n rally en short covering feu tilted the market after mid-day. Sleet storms in the Southwest caused some apprehension. Milling demand moder ate with sale- of lit .000 bushels re ported. Cern firm. ISuying was mainly local, but there was less pressure en the market. Receipts were light en ac ac "emit of the uuscttleil weather and this checkei' . offerings te arrive. Shipping dei 1 slew eil up with sules . of 111.1,000 bushels repertid. nuts market was firm. limine by! cash interests and locals was a fiaturc. Shipping a!es were busheN. heavy t'lish and totaled basis wus '..1.1,000 firmer. Wheat Mj JuK ' urn Ui ... July 'mm Hlch 1 U' l.l MS r.4', 3". 3'J Lew 1 ll'l .tlj't l ntt 1 '10'. r,i :iT'. 35', t ll'i l. el .1.11, ..!'. 3S :i', is.ue R.H', 0 Ou 7 72 7.0.' 37', 3fl', s (1-, J (II) s n.". n.ns R (12 u oe COTTON MARKET New urk, Jan. 4. (Jotteu recovered slightlv this morning from jesterdny's weakness, inalnlv bciuise of favorable' cab'es, better Manchester reports and trade bujiug. An upturn of S te ltl, p ints at the opening also i-uustd a let of room covering The chief sellers' early were Wall Street and Japanese interests. Prb dipped about 10 points after the start, but uiei fairly geed bu) - ing and rallied Itecelits for the duj are e.silmatd at I '.'."i 000 bales, against 40. 183 bules en the currespendliig day a week age, 10, M7 baits :i jear iige, ami .",0.787 bales two yciith ugi . In the early afternoon prices held within ! or H points of the forenoon high leel, but trailing had narrowed down te room interchanges of no partl jeulur significance Large expert clear ances from the southwest featured the day's statistics. Sentiment appeared te . be ncneiis, and there was u quite j general disposition te await develop , meult in the tinaiieial or goods situa tion. i Experts were .10, 421 bales. Including T.'.-'.'.'! bales te Great Ilrltalu. .'ill.4!)l bales te the. Continent and 1075 bales te Japan and China The total for the , season Is 3.0131,407 bales compared 'with 2,,r)00,R5(l bales for the cor cer ! respond ug period last season. i r t U M i 41 II tl 17 40 .lanuai v Milch Star July IS. 13 16 41 18 31 18 40 17 7 17 ss 17 2S 17 40 Charters Granted Dm fr, Iel. Jiin I'hartem flleil tmlay Include I l'ell.h ,tercnntlle ,Marln fortmr fertmr fortmr Btlen. 1,1, ene 001 iu own ami operate beats tt A W llrltien, Hmul b. Ilewnul, i.uiMiri iv ,i,iur ,rv 3 ncK rock (JUHranty rnmpany of JfuyUnd from SI. 033.000 te sltMieO.OOQ liaitimnr. .iin.j national nprinir rTedurte fcpiOPJW, CWcaiP (rerq ,QOa,O00 tu 13,. fK NEW YORK STOCK EXCHANGE TRANSACTIONS Div. in f TeW Net Clne Cn. BlM Hlh Lew 43V, 1W H MK 101 37 2;s 68 57 33 M!4 34 Vi 144 100 200 700 200 tOOl) 4809 100 1200 200 .180 100 2(100 400 200 2100 200 100 300 600 200 1200 700 1A0Q 200 3800 000 400 0330 10 000 4100 .100 liJO 24809 209 1000 200 '200 700 300 000 100 100 3700 10) 4400 .190 1000 50J 200 400 3000 200 20 tee 30300 2000 200 130 100 2300 300 290 100 10 200 100 10 1100 1400' 100 700 .500 N00 1103 300 5000 2200 2.800 700 1109 8000 000 200 103 200 100 1303 3530 1400 700 500 3)0 5000 1400 500 100 4400 230 109 3009 4000 5!0 2100 100 700 0C0 000 8000 11700 : 3800 2100 2030 1530 8209 330 2100 100 200 100 200 1900 1200 1400 100 0300 100 100 200 000 100 1400 200 200 100 800 78300 200 100 1000 200 230 400 430 2300 100 800 101) 000 100 200 3630 203 100 400 2300 '.' 30 700 700 700 SOU 2000 330 400 200 4000 200 . . Advance numely .... tlV4 4 Air Reduction 45t .. AJax nubber 16 ,. Alaska Geld Mnen... H .. Alnska Junca G M.. 4 Allied Chem A Uy . . MYi 7 Allied Cnem & Dye pflOlK 4 Allla-Chntmera ...s... 385 . . Am Agrlc Chem 30 .. Am Agrlc Chem pf... 59 1 Am Hank Nete 57 . . Am Ueet Sugar 35 4 Am B Shee Fdy new.. 1M . Am tlesch Magneto.. 35 .. Am Can 33tf 12 Am Car & Fdy 145 .. Am Chicle llli .. Am Cotten Oil 21 v. Am Cotten Oil pr 44 .. Am Drug Syn 4JJ .. Am Hide & Leather.. ) . . Am Hide. &. Leather pf 5J 7 Am Ice 81 8 Am Ice pf 72 .. Am Internal Cerp.... 4VVi .. Am Linseed 30t; 7 Am L nsecd pf 68 0 Am Locemot.vo 105$ 7 Am Locomotive pf...,113 .. Am Safety Itazer 4i4 Am Smelt 41 7 Am Smelt pf 80 3 Am Steel Foundries.. 32J4 .. Am Sugar lief iK 7 Am Sugar Itef pf . ... 80 .. Am Sumatra 33Ji 7 Am Sumatra Teb pf.. C8Vj 0 Am Tel & Tel 114ft 12 Am Tobacco 131 iS Am Tobacco tf new.. 07H 11 W- V 44 16li H- 56 101 K 381S 30 4 A 4 57 33JS - 14 IS H V 1 3H IIS IS IS 33 4 145 1114 21 44 13 4- 3 4- 81 7315 40 )- 3014 4- 30 105 f 113 4 11 W 44 4 38 70 72 38 20W 58 103Ji 118 4 43 88 H 32 K 64H 32U 68 114L5 130ft 07 128 ' 17 U Vi 13 4SKa 41 01 85 83 W 21 20 1000 14 M 34 52 i 00 52 53 104 3 IS 8tf 5854 23 50 110 30 y3 3 20 10 sy3 60 44 Vi 110 20 li 041-i 32 4S.. 55 4tt 13 33 '4 15 18 31 82 ft 31 y, 70', 84 ' 26 54 45 41 W 21 38 IS 01 ' !i 0 00 13 45 81 li 33 W 6114 14 8 154 " U 106 118 314 m 44 4-80K-32Ji- 84- 414 80 3314 4- 68 IS H4J4 4- 131 I 07 4- 128 4- 17W- 87 - 7 12 48 - 4414- 9354 4- 85 8314- 2 30 20 n lqoe 0 4 84 114' m' 1 Vz 2 614 U '-4 13 r, 7 7 m Tobacco U 13$ 14 Am Waterwlts CCi Am Wuterwks 7'l Am Woolen Pf. 17 A pr. 07 im 48U 44 K 2ft 85 l'3',j 2 Am 2lnc Lead & Smelt Anaconda Copper . ... Asse Dry Goods Atch Tep & Santa Fe. Atch Tep & 8 F pf... Atlantic Const Line.. Atlantic Fruit -t Oulf & W I S S. 30 Ji 1i Atl Oulf & W I S S pf 20Ji Atl Kednlng 1000 10 . Aute Salts Cerp pf . . . 14 7 Baldwin Locemollvo . 8 .. Unit mere & Ohie .... 34 4 Baltimore & Ohie pf. . 534 3 Harnett Leather pf... 00 B Bethlehem Steel 5 B Bethlehem Steel B .. 581, Bethlehem Steel 8V0 pfl04 . . Beeth Fisheries 5i .. British Km Steel 8t 7 Brit Hm Steel 1st pf . . 5S! 10 Brit Km Steel 2d pf 23 . . Brklyn It T ctfs of dep 0 6 Buffalo Kech & I'ltta. 50 10 Burns Bres 117 .. Burns Bres B (wl) 31 14 .. Butte Copper & Zinc. 5 .. Butte & Superior Cep. 22 .. Butterick 30 K .. Cadde Central OAK 10. .. Cal Zinc & Lead 3Ji fl California Packing ... 084 . . Cal'fernla Petroleum . 40 10 Canadian Paclflu ....110 .. Central Leather 30Ji .. Central leather pf .. 84yi .. Cerre-dc-Pasco 34 0 Chandler Meters .... 4954 4 Chesapeake & Ohie... 53 .. Chicago A Alten 44 .. Chi & K III new 1.1 .. Chi A Kill new pf 33 .. Chi A Gr West pf 15 .. Chi Mil A St P 18J4 .. Chi Mil A St P pf.... 32J4 B Chi A Northwestern.. 03 .. Chi K I A I'ac 31 6 Chi K I A Pac 6 pf. 7114 7 Chi It I A Pac 7 pf. 84 . . Chile Copper 15 . . Chlne Copper 27 .. Clev Cln Chi A St L . 54 ', . . Cluett Peabody 43 4 Coca-Cela 42J4 .. Colerado Fuel & Iren. 25 3 Colerado A Southern.. 3SJ-J 0 Celum GaH A Klec .. C3'2 .. Celum Graphophene .. 2 .. Cel Graphophene pf . . 8 4 Cemput Tab It cord". 57 14 . Consolidated Dla Ins. 7 Consolidated Gas .... 00 ...Consolidated Textiles. 14 .. CentlncnUI Can 4IJ4 s Cern Preducta Ref . . . 93 . SO Cosden A Ce 34 4 Crucible Steel 5Ka .. Cuban Am Sugar ... 15T, .. Cuban Cane Sugar... .t'i .. Cuban Cane Sugar pf. lejj 4 Duv son Chemical ... 52 0 DeUware A Hudsen .-. lOS'i 0 Del Lack& Western. . 110 . . Denver A Itle Grande 314 1 Deme Mines lSJi .. L'lk Hern Ceat 1J4 .. Umtrsen-Brantlng ... 2 5 End cott-Jehnson .... 77 .. Erle 10 .. Erie liit pf isit .. Erie 2d pf 10J, 8 Famous Players L . . 76J, 10 Fisher Bedy hi 7 Fisher Bedy pf lectj 8 Fisher Bedy of Ohie.. 77 . . Flsk Rubber 12 .. Freeport TeMiB 13 . . General Asphalt 02 B General Asphalt pf... 9!i 0 General Cigar 8S 7 General Cigar def pf. 01 8 Oeneral Electric 138 1 General Meters 0 Gen Mters del) 0... 80 7 Gen Meters deb 7 . . . 82 . . Goedr.ch B F 30 7 Goedrich B F pf .... 82 . . Granby Consel M A M 27 . . Gray Dav s I.'l 4 Great North Ore ctfe. 31 7 Grut Northern pf . . . . 73', .. Greene Cananea Cep. . 27 . . Guantanamo Sugar . . 0J4 .. Gulf Mobile A Ner 5 . . Gulf State Steel 43!.$ . Hablrshaw El Cable.. A 4 HaFkell & Barker Car 77 . . Housten Oil 73 Hupp Motorcar 11 7 Illinois Central 88 60 Indlahema Ret 3 .. Insp ration Cen Cep.. 38;, .. Intetb Cen Cerp 1V4 . Int Agricul Cerp pf . . . 3HJ, B Int Harvester new ... 82 7 Int Harv new pf. . . .108 . . Int Mir Marine !3' 5 Int Mer Marine pf ... 4Ji .. Intermit Motertruck . 27 vj 7 Int Motertruck 1st pf 7.1 7 Int Motertruck 2d pr. 39 .. International Nickel ll'a tl Internat Nickel pf . . 80 International I'uper . 51 U 1 H1 5254 10 ::., ' ., 1 n- 3I1S 10114 1!4 1S 815, 58!S-'r 22- 6 50 1 m 3! 14 -3- 114 14 3014 10- a- 0054 46 119 39 -1- 6414 :4 4 14 ! 5414 13-3.1-15-1814 .1214 03 31 71 -84-t- 13 27 -51 -45 - 42-4 ' 25 38 ti lt! 2 1. 57 14 r 14 IS I 24 -r 90 14 46 -3 34 6554 13J4 W 10J. 51 10814 114- 314 I8J4 U54 9 77H "14-- 13 - 1814- 76J4 81 106 IS 77 -12 13 63 18j 10U 2 77 104 15 10Ka 75 VJ 80 lOOJS 77 11 13 00 97 ' 68 04 137 8 69JJ 82 34JS 82 27 12li 31 7J 27 0 5 45 J4 77 72tJ "li 08 3J4 38 IK 3(14 MOVj 108 1214 0214 27 72Si 57 llli 00 4)1, 7014 13 24 3 10 38 JS 36 32 Ys 53 07- 214 "f 14 91-1 138 54' , 14- 14 eis .. 8i - 36 83 - 37 -13 11 73 -27 -914- -; 45- i 77 74J4 HKi 18 3 1-4 - 3SJJ- m r 35. J-. 81 H 108 27J-J 73 37 -11' 60 30 76 5J-13JS-'-24 U- 13300 2)0 12000 300 7300 90'J 10) 1200 000 tee 6 Inter Paper pf stpd. . . 71(4 IllMIielble Oil Cery... 1314 Iren Products 24 Island OH 'tij Jewel Tea 10 Jewel Tea pf 38 !J Jen"8 Bres Tea 37 14 Kunsus City Southern 23 Kansas City Se pf ... 53 3- 10 - 3814-3 314 23 53 NEW YORK COFFEE MARKET New Yerk, Jun 1. The Inciil coffee market opened irregularly, tue points ' lower te an adwincc of lite points, .Tilly and September holding relatively firm. The early official cables from i Brazil were net at all Inspiring and chew eil but litt'c change from j ester da j's peer showing. The small qiisui tit nf Ilrazll ceffee new afloat for the l' lilted States only 381,000 bagtr--li? nttraiting some attention Th" market at midday i bowed little j further Price change and trailing wan '(juict. Ikts'iie-ih during the punt week I or ie has, been rather Murgtbh, with rniitrwtri sel Ins about .lO point h nnilcr the reeent llli'li level. Ilrazll ipiotatleus ' have been somewhat eaMer and r- 'elpts at the ports held full. Jobbing hnues lme reported a slack trade In spot coffee, perhaps due te the annual 1 stock-taking, but an Improvement la change market but with advanccH j i . excbangcfi. Vdc, fruiK'H were up n point, lire up 2'&, and guilder:, up Swiss and Uanldh were unchanged. In the early afternoon the market was easier all around. Sterling cables were 4.20'Tfc. domain) l.llTj ; franc cables 8.01..., cheekH 8.00 ; Relgtan rablea 7.05, checks 7.04 , lire cubles 4.28, checks 4.27'i; marks, .02. The improvement in Canadian ex change was continued today, the New Yerk premium in Montreal being fur ther reduced te 10-10 per cent. The discount en Canadian, funds In New Yerk declined te 4 7-10 per cent. Seuth Ante Iran exchanges were quoted today as fellows; Argentine. 33.33c; Ilrasil, l-'lici Chile, lOiec; I'ruguuy, I3S. There were sliiir; counter iiMvcnnniih in Central Knrepean exchanges tnilnj. Seme of the quotatietiK were largely immlmil Ounlntlnns were : lliimnnlnn expected witnin a wceK or ten day. Prev cluae iirxn Tnnunry March . May ., Ja. ,.,.,. ,.,,,..,. H,IIJfl.-, S.45P4H 2 n. 4e a 47 fQ. TI..tn.le -t bi; QuftTrfitftjtttf rnr, jn TiTSl Today's Clese 7 Sales 800 200 36100 109 9700 3709 700 1000 800 800 509 Lew e4 A3 34,14 OK S!4 1 Ut 44K 27 13 0 38 K I 30K 36 K 33 35 jek 35 34 It IK 10154 108 36 K UK 37 K K 65 HH 24 vu 44K 03 13 133K 113k, 09 3154 1414 .02 ' 72 ,30 84 12K 4454 75 22 K 12K 2 1.1K 110 w 63 . 44 49 K 43 12 13VS . 33 55 K 9 11 w 19 51 04 31 IS 8'J SI no 13K 29 11 70 eiK 03 21 15 0314 01K 25 10G 31 33 04 K 14 K 7114 41(4 48 K 25 50 IS 715 0 4K 20 20 K 33(4 85 30K-90K-28 "1H 1UW 43 37 37K 05 7 Lima Locomotive .... 03 2599 1000 200 1300 200 109 1000 200 tee 300 400 200 600 22590 700 4200 5500 200 100 25600 1400 9100 .190 4500 1700 300 1600 009 300 160 1309 1340 209 600 100 100 1200 2009 2100 100 100 3409 200 ibe 100 300 13000 4300 700 100 760 2100 1000 1300 200 1000 100 200 1400 300 100 3300 1000 1300 1200 700 400 100 800 100 300 300 3500 109 11300 5300 009 800 1000 300 100 209 3109 310 100 3200 303 . Leewe Ce 13 1 Left Candy ) . . Loese-Wilts Biscuit . . 37 .. Minimi HUfriir' 34 7 Manhattan Elev guar. 88 78 Manhat Shirt 33 .. Marlln Oil . yi .. Martin Parry 30J4 Div. In ' lllth ' .. Kansas ft Gulf 114 8 Kayser A Ce . M .. Klly Sprlnie Tlr,.,.. 3814 8 KUy.Spg Tire $ pf i14 . Kermecett Copper "H ., Keyatene T.'a It .... left Kre.ge 8 Hi 113 .. Lackawanna; Steet ... 4114 2 Lee Rubber Tire, .... 3. be Lehigh Valley 1. 7 1-4- 37 34 . 38 4- 33 34 K 13 - 1H- 105 1U 26 13 28 3K- 65 K-l- 8 -31 64 r 14 69 n 14 63 73 K 30 -51 -, 1254 7 4414 76 22K- 1254- 2- K- 14! . . Market St Rwy nr nf . 3 .. Math Alkali .. Maxwell Class .... . . Maxwell Moter ctfa. 8 May Dept Stores.... 13 Mexican Petroleum . s Miami Copper .20 Mddle States Cem.. . 3414 . 13 . 114 .105 .111 . 20 n 2 13 .. M'dvale steel 28 . Minn A St Leu 1 0 7 Minn St P & 8 6t Me. 03 . . Me Kansas A Texas. . . . Mp Kan A Texas pf. . . . Me Knn A Tex ("w) . . .. Me Kan A T (wl) pf. . . Missouri Paolfle 314 BIS 33 H 17 . . Me-Paclfiu pf , 43 3 Mentana Power 04 , .. Montgomery Ward ... 1414 7 .National Biscuit ....123 7 7satlenal Biscuit pf..,114 7 Nat Cleak A Suit pf.. 69 8 Nat Enani & St 33 .. Nev Cen Copper...,. 14 : N y Air Brake 63 B New Yerk Central... 7.114 .00 New Yerk Deck 30 8 New Yerk Deck pf. . . 54 .. New Yerk N 11 A II.. 1314 3 North American ctfs.. 44 7 Northern Paclfte .... 76 . . Neva' Scotia. S A C. . 2254 .. Ohie Bedy A Blewer.. 1314 .. Okla Tred A Ref.... 2 .. Orphcum Circuit .... 1354 8 Oils Elevator 110 .. Oils Steel 05S 0 pacific Gas A Elec. ... 63 3 Pacific Oil 46 0 Pnn-Amer Petrel .... l!s 0 Pan-Amer B 4014 .. Panhandle 13 .. Parish A B'riBham... 13'4 2 Pennsylvania It R 33 .. Penn Seaboard Steel. 9 8 Peeples Gas Chicago. 0114 .. Peoria A Eastern.... llli .. Pcre Marquette 2014 a Pcre Marquette pf . . . si B Pcre Marq prier pf.. 94 3 Philadelphia Ce 32J4 . . Phllllps-Jencs 65 . . Phllllpa-Jencn pf .... 01 .50 Phillips Pet 30 Ji 116 ok 63 ' 48K 81K 46K 1 it 13 13 33 n 6114 V Hi 14 I 1 V4J 1114 2054 -i- 51 01 3214 02 -91 -f-30 -j 13K 30 !', 11 - 70 -61 -03 2l- 13 -03K-91-37 -t- 100 33ft 3f 14 00 ' 14 K- 73 44J4 46JJ 26 31 7 3014 21 21 31 : Plerce-Arrew Moter .. 13 JS Plcrce-Arrew Met pf.. 30J4 1 14 .. Pierce Oil 1114 14' IS i, ' 4 h i 14 1 ! H 8 Pierce Oil pf 7054 8 Pitts Ceal 0154 0 Pitts Cea pf 03 .. Pitts A West Va 24 .BU Pend Creek Ceal 13 .. Pressed Steel Car 0314 7 Pressed Steel Car pf. 1 .. Producers Refiners ..2714 8 Pullman 100 Puntu Alegre Sugar. . 33r,i 36 li 06 2 Pure Oil 8 Railway Steel Snrlng. .. Ray Cen Copper 14 4 Kead'ntr, 73 2 Heading 1st pf 4 V a 2 Heading 2d pf 40'S . . lleplegle. Stel 20 .. Republic Iren A Steel. 61 .. Republic Meters 7 . . Rebert Rels A Ce.... 0 3.20 Royal Dutch N V ... 5014 .. St Uuk San Frana.. 21 . Ml Leuis A S W R R 31 . St Leuis Southwest pf 33 . . Santa Cecel'a Sugar, . 3 . . Savage Arms 11 .. Saxen Moter 3 .. Seaboard Air Line 3 . . Senbeird Air Line pf . 4K .. Sears- Roebuck 01 1 Senrs-Reebuck pf .... 0214 . Heneca Cep Cerp 3255 .. Shattuck Arizona Cerp 8 74 Shell Transport 38 .. Sinclair Oil 20 .. Sless-Sheffleld 3614 7 Sless-Sheffleld pf ... 76K 0 Southern Pac fle .... 78 JS .. Se Perte Rice SUgar.. 49 . . Southern Rail 18 K .. Southern Railway pf.. 47 , 8 Standard Mill 114 4 Standard OH of Cal.. 95 5 Standard Oil of N J..175K 7 Stand Oil of N J pf..H4K 7 Steel Tube pf "K .. Stromberg Carb 37 7 Studebaker 82 .. Superior O 1 Cerp ... K .. Superior Steel 27 Temtar Cern A F "A" 3 . . Tenn Cep A Chem. . . . 9fi 3 Texan Ce 43J4 . .Texas A Pacific 26K 1 Texas A Pac C A O.. 35 S. SO Texas, G Sul 40 8 Tidewater Oil 130 0 Tobacco Products . . . 62Jj . . Transect, Oil l 8 Union Bag & Paper. , 69 .. Union Oil '. 1 10 Union Pacific 120 4 Union Pacific pf 71 .. United Alley Steel... 23 K .. United Ltuht " a United Fruit 121 K 301 407 109 401 200 200 409 10809 209 1609 309 339 17390 200 300 8100 409 2000 800 100 5400 3200 1200 100 400 20400 1600 10(1 100 100 35600 3209 2800 7400 200 2100 4230 100 3100 4100 ' 100 200 600 2 100 6000 5300 . 1100 ' 2100 6300 309 13809 500 -100 300 2000 100 300 100 100 000 1100 500 300 100 1200 . 100 100 'nod 000 3400 wen tee 19 00 .100 000 noe 700 'i . I, IK! '! a! 14 1 UK 3 2 u 61 K 03 "h9. 3JK 1BK 3C54 6014 78 K 45 17JJ 46 114 3 171 114K 77 K 36 K 80 Vi 27 3 OK 4354 23 2414 3S15 f.10 015. 10 GO 174 125', 71 25 K (19 1 j 118 50 J7 0j 504 5214 100 S2'j llli-j 61 K 10 30!s 27 67 Nli 0 20 6014 K HK 13K 32 00'i 40 K 0 37 ok 14 51i 26 27 13ft 43 11- 3 2 . ' 114 -J 0'" 22 1 4 h ; 3S te'; , 301,4 iiK- 7S 40 17 47 114 -03 175 114K 77 K- 37 S2J4 5- 37 3 K- 43K- 20 I- 23 40 130 - 61 Ji 10 00 -IS . 33 K h 70 121 'a 51 K 3h ; 67 K -5.1 100 3 113 i 02 -80 - K I 30(4 6014- K iiK Ki - 32 IK 3 1 K K K - ' 1 H 5 14 114 54 IS 1 IK 1 a United Retail Stores.. 3114 ..US Ind Alcohol 38 . U S Feed Products... OJa .. U S Realty A Imp... 38 ..US Rubber 33 HUB Rubber 1st pf. ...100 0 U S Steel 83 JUS Steel pf HK ' 5 Utah Copper 62 .. Utah See 10K . . Vanadium Cerp 31. .. Va-Car Chemical .... 27 ,. Va-Car Chemical pf.. 68 6 Va Iren Ceal & Ceke. 80 . . Vadeu Inu 0 .. Wabash H . Wabash pf A 2014 ,JO Wells Farge ExprefcS. 68 .. Western Maryland .. 8K . . West Maryland, 2d pf 14K . . Western Pacific 10 a Westfrn Pacific pf... 32 7 WisUrn Union Tel... 00K 1 Westlnghouse E A M. 40 . . Wheeling ft ti H 7 4 Whltu Moter 38K . . White O.l Cerp 0 . . Wick Spenc Steel Ce'rp 14K .. Wllls.uerland 14 . .. Wllls, overland pf .. 37 .. Wilsen A Ce 2715 ft Woelwortli F W 14114 4 Worthlngten Pump .. 41 4 K ' , n 4 215 '3 3 001 K Vi 1 14 Ux-JIflJuiU. FOREIGN EXCHANGE ' llsh 3.00; .Tiige-yiuvlan :T.. New YerivJan. 4,-Tlic foreign , J"r'"' '" ,! J?7 "" opened irregular teda. " 'Bteriim' I-Vn'n, a i,i'r. iu most of the allied i"ji;ana . .-;; ,j J'i t i? lpips t " " i Hterllng showed a gain of TODAY'S OI'L-NINU UI'OTATIOMS aterllnt; rrnni-a l.ln. H?! US;!' 1-2 4 tote (t 03'-, ,'y I Pimand (..ibleu . fyjerser Ratification Deferred New Yerk. -Jim 4 Slurlihulilnrn of the llueliell and Ilarker Cr Company. Int., hifd a upeilal maetlns tedny tu tenldi r the eiile of h preprty te the l'ullnun ''"ipan. hut adleurncd without ilBtliilir, union until Juiruury 12 a. F- Tarry, ureeldent of the (timpani, ban teaued a letter neiltylnu etuikheldira thai heldera lit cxej of the rditllBltn two twe th.rxla Bf thi' lemriaiiy a atetk hc oiiprexd the proposed eoneil(ntloii with J'ulltiiaii. Movement! of Vessels New Yerk, Jan I - Arrhnj Antwerp Ouillr, Vi.rU Jan. 3. Arrhcd lirltaiinlu, i.w Ciuhiifr". Jan. .!. Arrhul, Mount Cur roll, Ntw Yerk. ' ,ntrrf, Jun. 3 Arrived, Zcelund, New Verk. .. ,. iec. , aiiiiwi 70 fTenhn.HlnvlllrlnM I Nf .Verk. . Jan. -3.4-rBaltrdt xerilat rfowVYerk LOCAL I RADING ' CURTAILED 1 Nst Chs. 2 r. 144 Peel Operations In Rapid Tran . sit Were Net Resurngd. Changes Unimportant It 1 4 H K 3 3 14 .'K K 4 314 ! IK ' K K "ii Trading was greatly curtailed in the lecnl, market 'cemrtnrcd wtli nome of the recent lively sessions. The character of the dcflllliK? suggested nuite n general adoption pf,the waking attlttidf, wiicl was te be expected In view of tlie con fusing change. In the program of the big market. There woe.nlsu 11 disposition te LehpcU up 4u order te eft a better, line en me general situation nnu mcreieru lirive fuUtrc cemmlt.ncnlfi btt:'ed upon real facts and llgurci father than in dulging iu any further guciwlng. The operation? In the purely local Hbarte were particularly qulet.,'.Thc boemlet in Plilladelphla Rapid Transit seemed te have, been sidetracked over night. Little, attention was likewise given te the ether' uti'lty shares, ex ccntine U. O. 1. nre'errcd. In which L there wus some belated prefit-taklpg, 1J causing ji rccessleu te 0(1M: ibe com mon and Miiall sales also declined te 3SVj.. . In the miscellaneous group dealjngs reverted te odd lets. Electric HteniBC, Hattery met .cenflnucd realizing ami yielded te 1120. but rallied later te 12084. Pennsylvania -ran Inte, -fresh selling .eitflr reaching 34, hut the offer ings were well taken' en the i'-petut dip. Only nn academic interest was at tached te the' resumption of the l'hl'u l'hl'u delphin Rapid Transit valuation hearing before tin Public service loumiissieii. If the Plttftburgli cm he may be accented! as 11 criterion there Is quite likely 1 te he n inittcrluP modification of, the ligiircti reached by the Mitten man-, airemcnt. Fer u lentr llinc It has been - 2 .. Ta 1 generally accepted en the street that Mr, Mlttcn.'tl figures were altogether tee extravagant. Therefore, any reca pitulation en the part of the commission will cause little stfrprlsc. On the con trary. f they de net, many will he ls ls nppelnted. The Pennsylvania rail order proved te be considerably smaller than ex pected. Whereas, the trade figured en nn order of 150,000 tens for this year's delivery, the amount placed was enlv 0,000 tens. It compared with" lillO.000 tens ordered last year for IOL'0 de livery. The Pennsylvania, however, during 1021 laid between 150,000 and 100,000 tens of rolls for renewals, the largest amount since JDjitl, and carried Inte the present year roundly 50,000 tens. With Iho 0,000 tens ordered, which is distributed among the Car negie, Rethlehein. Cambria and Lacka wanna Steel Companies the read will lunc approximately 130,000 rails for current year requirements. . . u. Vk K J4 IK "k K K n . K 1 . "'Va K Vi Philadelphia Stocks i K . K '4 K K . KIkIi Iw 120 Am St is.. MS .s7 5 Am 0!a.. 47 47 lOOtAm Sugar C" 0." 7." Am Rwys 4 4 100 (ii Am Ku l."'1i 1 .-)! 004 K'ec. Ster.l21j lll Cleso clik'C. ss 47 1 C3 livfl4 11 - ),;. 7414- BS, ;n Jss4tt,cn Mtrs. !'s "sis .OtHeus Oil. 74")i 74 :) I C N A . 32 '.I1 r'3 20 Key Tele, 7 7 400 Lake Sup, 7 7 20tMidva.c. 28V 2.S's :!. Ner Cent 7'IVj 7i,2 414 Pa It R.. 4 .'t''i 41 Phil In W fiOli fiO'i 100t Pun Sug. 3J -'(3 (JO Phila Cm 7 .. 28 8 iW;.. new.. :;3'ii2- i4 2K cum pf.. SOii m :;rt v-2 J71; Phila J-J'cc '-'4 01) I de pref.. 27- 27 K 27 'A.. l.ViP RT'.. 18 -ISVi IS',4 Vi 10 Phjl Tract ."S 5S ,"S 1 'JlMitPltts O.al Ol'i 01'i 01V.. lis 2."tStand OH N J , . . . 172?i 172-?4 172:h la'i lOOtTrans Oil. 10 10 10 , K IK j lKi I (12 Un Trac. .14 Vj ,:4 'MVi ',, ' 2.-.U g'i:.. iss-vi .8,i JtSVj la I 4mi de pref. r.e. "'0 r.e.. i 2W Jer&S 27'-is 27 27.. Net chnnse made bv reinparl?n with last i salt en New Turk Stock Exchange, j Telnl suIck. DOM aharea, cemparM wlthl 017H hnips scstcrduy. Thus far this '-eil;, I U,1'J2 thurei. I I I'l'llL.DEM'IlIA HONDS 1 f,000 Liberty 1st 4H '47.... 00.00 IK Kl K 1-K ll'a! K 14 1 yrjatOO Liberty 2(l 4'4 '42.. lets 1)0. 2S 1400 LibeVty 2d Wt '42 lilt. 24 I 10000 Liberty 2d 4js '42 110.28 1000 Liberty 2d 4V.n '42 reg. .00.00 i 200 Llberly ltd 44b '28 reg. . iW.OO I MO Liberty 4th 4',s '.'IS. . . . 1)0.84, .'!00 Liberty 4th 44m .118 reg. 00.40 1000 Liberty 4th 4,is ''18 00.80 1. -.00 Liberty 4th 4Mn '.'IS 00.74 11000 Liberty 4th -IVm '3S.... 00.70 10000 Victory 4"14h 2.'l 100.00, 27000 Victory -ls '23 lets.100.01 IK M 200 Amer tias & Electric 0s. 80 1000 Hell Telephone- 7s lOSVi 10(H) I'leetrie & Pcople'a4s.. 02 3000 Intcrbore Hap Tran Cs.. 5411 1000 Keystone Tele '1st Cs) T2 ,'0O Plii'a E'ectrie 1st us.. lets m 1000 Phila P.lee 1st Cs...'.... 03 ti' 8000 Phila P.lec 0s lets 1003g , ,r.(M) Phllu Llectric 0s 1014 3000 Phila Llec 0s 100 1000 Heading general -Is 80 2000 Spanish Am 0s 100 1000 I'nlted Hallways fls 70i rQ0O United Hallways Cs 70 Total. JlSS.nne, compared with Jinn. 400 sestet-day. Tliue far this week. 1307,000. It K 2K 1 14 K 2 K "k la K K i 1 K K K IK Liverpool Cotten I.herpefll. J.in. 4 --There was geed de- mund for itpet cotton today, but bunlnes wan innriffr.it,. nnil rlnp., pn.wlr en thn bafcln of n (i;llne et Si pelnte for mlddllnc at Jl IM, The salee wern SOOO balee. The lecelpta weisj rS.OOll bales. InrluJinB 3200 bal Amerlesn Epet tirlccii were American, mlndllna; fair. IS ROd. soed mlitdlnig, ll.HOdi fully mlil-dllns-. ll.rind. nildd' mr, i l.lfid- low mlddllns. O.liW, eoed ordinary 8 Old. ftti'l ordinary, T.USd. seek war Instigators Inter-Allled Commission te Meet Next Friday Vi- - 371-i- 141J 5K-" i 14115 43J.- Paris. Jan. 4 -(15y A. P.) The. In. tcr-nllied Commission, formed under the termb of the Treaty of Versailles and charged with, investigation of persons accused of lieginnlng the war. nlll meet at the Ouay D'Orsay next Friday. Sir lncst Pollock nnd Attorney tien- , 'inil,i, :.... uuiiders oral He wart will represent Kngaiid, l'rcnch Minister of Jnstloe Benneray .'',, sa w ( SUiHS auu raui .uiuivr, r rencii Advocate wen. cral. who attended the recent Lelpslc trials, Mill represent Prance, Slguer Da'lmonde will appear for Italy, and Captain Henry S'erui and M,- Vyuel wyck for Helgiuni, The commission will lilvehtlgiitc re ports of the jirJeus allied aeverninciits tlullilera 8"e sCSfi (III I in- 'l "6" no uiaui- fQ lur in me pves. edition of tliese acctiicd 6f Instigating the war. Elkton' Marriage Llcensee ISIItten, Md., .lint. 1. The following marriage, licenses were grunted here to te day: Ihemaslaj and Agnes .7oliiien, Russel neslelf anil Mury Muccrliie, Lugene I-. Hiillecker nUI Mutifirct Crernivr mid Denienlck Llli! utid Lillian Falls, all of ,1'hllndelphIaT V III Unrdner and Carrie Davis, Vi'ii Jim: L. ldwii. Phillips and Hertlin I)unbar, Elkton ; iinrry i)(ltIllt u , Careline Frlcdwuu, Rlverwoed, N. J. tuid Kugene Perter nm JI,,,-,- ;Htiblii- ten, Smyrna, jJcl, ' rmluiul 4iicmieioeias, Orduna. WAS COUNTY BONDS FREE FROM ALL FEDERAL INCOME TAXES Yleld County of Harper, Oklahoma. . Sl2 28-year 6 Funding Bends . Assessed valuation, i9,470.00ft ! Net Debt, J6G,S23, ... , Population, 8,000: etipmltujtlen.. 11.000. Parish (Ce.) of Concordia, La., B te SlZ 6 Read Serial, 1 te 16 years, Bends v Assessed valuation, 19,963,598 ! T6(al Debt, $660,000; Potation, rl,977i.4)enpmlnatlen, JLOOO. County of Clay, Ne. Carolina. .' 5 v 6 30-year' Red Bends Assred valuation, 14,867,119: Kct Dept, JJ197.000; Population 4,016, Dcuonilnatlen, $1,000. County of Cook, Minnesota 5 ' C'Fundlng SerUll te 20 yers, Bends ' Assessfcd valuation $2,002,163: Debt $186,840: Peptflatldn, 2,100: Denomination, $1,000. County of Heward, Texas 5 f)n S-year average Read Bends Assessed valuation, $5,412,840 : Debt. $401,000; Population, 10,600; Denomination, $1,000. Out January Circular, Ne. 1G0, descriptive of the above and 60 ether issues eMtfuiiicipal Bends; free from.. Federal Income Taxes, yielding 5. te Te, sent upon application. The Hahchett Bend Company (1NCOKPOHATKD 1010) - MUNICIPAL BOND HOUSE 39 Seuth Ln Salle Street ' " Chicago Charles B. Robbins Philadelphia Representative 624 Perry Building Telephone, Keruce 15210 January Investments Send for our Booklet Ne. 7301, which contains brief descrip tions of several representative bends yielding from 4.25 te 7.08. Bonbright & Company 437 Chestnut Street, Philadelphia Bosten ' Chicago Detroit New Yejk PbCrtEfBOND INTERfeSt tABLE Ei!uef 4f 4f tlllfry en J te lr lnlri (f lK full mnlK f fntnlh. t,44 iKf Inttnil for hm rmlnlfif . CUulu 10 iM t h nnth mnA MA 4f i th rtM. JHttWUTON mWHOM t P.YTOMONTts INTtWtlTOM II4KH iVwQM eiw iiHri h ,' -4 i tMll I .1041 I llli I .mi l?l JllLUl I .IK J .19,1 Ml! .JQM nm ii Jld ,ssu ,iii'' ? Pi 1-7-' Jilt FREE 111 tot "SH eun combination roewcTseirviNtii 1922 Caleridar i!B ill SI Bend Interest Table, and Ownership Certificate Guide is new ready for distribution. Copy will be mailed free te any epe who frankly mentions his business or occupation. This device is par ticularly valuable te bend owners, ihe ply is limited promptness - is advisable, therefore I Frederick Peirce & Ce. oet .... IMm !!WTi 1421 CHfcSTWUT STREET- Ulif. - A OHln.li IK PHILADELPHIA FREDERICK. JWi 1iilili)i.lU aa p I' inhliWtwtWl The First National Bank of Bosten The leading financial institution of New England Foreign and domestic commercial banking of every nature. Correspondence solicited. BROWN & CLAYTON Brokers in Commercial Paper Philadelphia New Yerk arc pleased te announce that Mr. Emmer E. Marsh will become a partner in their firm en January First, 1922 C. S. PATTON & CO. . .. .!iUfrei,er te MIM'K & HTr.YllNhllN llnnila .unci htevlfS lieutrlit and old Bare Bends 6r tavestmerit HALSEY, STUAR1J it CO. Inc as. m t.leu J.I1 M1 .TOT 1 .1 II .11 SMI I Mil rns tnn nut II1U il he IMI iiii) suit !!IH inn i Im l im; tup- III) ioeoo ii! US ! ! I Ite nivv I M(t liill ilOWO UIIMO M .If Culd. ftt 4lh.r .14. .nut St Philadelphia X t 11 I a. 9&" :?"-" r h kl ,1 <v'J ii.- WL&Ll .' . -'. v..
Significant historical Pennsylvania newspapers