W
V'll
TWP
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V
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! illMARKCT
Mr- lyHff
4? II -"gyfegy
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EVENING
iTL.'f-
wr . jt
-'
VI
vr
PENNSYLVANIA
RAILROAD
6
Equipment Trust Certificate
Maturing 1930 and 1931
Issued Under the
Philadelphia Plan
Te yield about 5.85
I The National CityCempair
"Mladelphla 1421 Chestnut St
MUntle City Chalfonte Bleeli
1225 Boardwalk
manmiaHin::inniinmrnnna:i:i:ii;n;r.in:unaii;Ti
1921
and
1922
Review and Outlook
Causes and effects of last
year's market action and
forecast of probable price
trend of securities in the
current year shown in our
latest Market Analysis.
Ask for copy of Bulletin
PL-86.
&flRLE5-HCwRK5QN&i
66 BROADWAY NEWYORK
TCLiBOWUNO GREEK 4020-23
a"tminnii:::ii:mi::::mn:i::i:iii::::::::;:;;tn7j7r;'i
Our
January List
of investment sugges
tions contains ever 160
issues of high-grade
bends carefully select
ed te meet the indi
vidual requirements of
conservative investors
and institutions
Yielding 4
te ever 8
Ask for Circular F-ll
Harris. Ferbes & Ce
Pin St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Widener Bldg.
Telephone Spruce 7040
MUCHBETTERTONE
More Interesting Happenings
Supplied in Bend and Meney
Developments
New Yerk, Jnn. 11. It wits In the
miie.v nnd benil market the mero in
"rcstlnj: thnclnpmcnts occurred, while
'i tjie stock market there uis the sntne
wnotenoiis bncklnir and llllliiK. The
me of the cetiernl llt. however, wis
'niiwltlcrnbly stronger. Prices tne were
n n mrnstire it bit firmpr. This was
let because of nny grout Influx nf ent
itle Imying or change In Hip market
nsltlen, but rnthcr the result of des
Itnry cevcrlns; en thp part of nn o.er e.er
xtcntlert short Interest. Possibly tlip
ere encouraging ns well ns Impertiint
velnpment was. In thp evidence of tlip
'inph'tleii of thp liquldntlng movement
nerally supposed te hne been for the
-called Western account.
In the bend innrket the Government
Wmip.s again assumed prominence with
nil the Liberty group except the third
4l'R and Victer) .in (.coring new high
records. Further cuts In rediscount
rates of western rpgienal banks Mere
believed te foreshadow a further re
duction in the reilK'eunt ratP by the
Lantern regional institutions within a
few days. The call lean reuewul mit
tens once nierp llxird at .'Ps. Uut the
abundance of fundi and the slackened
demand caused a quick marking down
of thp rate te 3 per cent.
The liberal supply of betli call and
time funds furnished mi aimer iin iin iin
moable checkmate te extensive aggres
sions en the part of thp renctlenar
piirtj. notwithstanding the majority of
thp professional element arc npcnl
bearish In their convictions. On the
ether hand, it gnc powerful leu-t t"
the peels and ether snrcitlntlr clames.
although the latter showed little will
I Ingnrss te resume their former nrtht
I tics, which wus partly explained li fh"
growing number of absentees among the
Influential operators taking their mid
winter mentions in the Seuth.
Features of espe.-'Iul interest were
lacking at the dull and uncertain open
ing. Hethlehem Steel was the etilj
prominent Issue te register mere than n
fractional change, gaining 1 point. I
Most ether industrials were lower. u
were also 'oils and rails. The market1
readied within the first hnlf hour en
.enewed bujlng of Mexican Petroleum. I
The recovery of Mexican Petroleum wa
followed by advances of 1 te 4 points
in Standard Oil of New .Terxcv. Texas1
C'empunj and Housten Oil. .Shorts I
next eeverpd In equipments, peppers,
meters, feed, specialties and chain-store
'ssues Amcfrican Locomotive. Kailunx
Steel Spring. American Smelting, Utah I
(upper. Studebaker. Cern Products and
Ma Department Stores roe 1 te 3i
points Crucible and Pullman were
among the few industrinls te lag. L'ries
continued te strengthen, but the rail- '
W,'J H't as a whole was sluggish.
hlle the trndlnj In stocks was ftir
ther curtailed by the storm, which in-
terrupted communications with Western i
points, prices held firm throughout the I
afternoon, especially for the oil and i
jsiuipnient shares. The rails hardened
'nter. tlielr improvement contributing
te further gains among the specialties
In thp Industrial division, and the market
lesed strong at the best prices of the
day.
Commodity Markets
GRAIN MARKET
Chicago. Jan. 11. The wheat mar-'
kct was a narrow affair. The bulge of i
nearly one cent at the opening was the I
result of local bujlnj. Induced l the
relief that the market was oersehl ,
There was peme commission house bin -Ing
bcrause of a failure of the cables
te respond te the weakness here tes.
terdiu. Kxpert bids were fi cents 'out
of line. Shipping sales were 11,000
bushels. Itecelpts are slightly heavier i
Further rains were shown in parts of I
he Northwest i
Cash nnd expert houses bought the
eru futures. Offerings were light Im
porters took 11X1,000 bushels of , ern
tit thej art- bujlng most of their corn I
in the Interior, pnjing Chicago pre es
in the interior for the corn. This i the
cause at small offerings te nrrle. Io Ie
mestie sales were L"0,00fl bushels.
RUIIIIllIHIIHHBHslMMaVS
Knew Your g
Securities
Keep Careful Data en Every
Investment
' We have prepared a g
boeldet, tastefully bound S
In leather, for your conve cenve
. nience. It fits easily in the
pocket, and contains a
systematized arrangement
for recording your hold
ings. A table of incomes from
various stocks listed in the
back will serve as a valu
able reference.
Jet down a memer
andum new te call or write
'for this booklet today.
Ask for L-6.
P. K. GUTHRIE & CO.
Wheat
Jul!'
Cern
'!.
JU . .
nat
Vav
July
1'erU
January
May .
lard
March nibn
Januarv
JIa ...
Open
1 OS
.90 J4
.3I3
as
.13',
0 01
1) '.'J
8 JO
Hitch I.eu
t 10', 1 0(t
1.00
.r.a',
..'.I'.
r.s,
Mil',
n k
u .17
ns
.32'.
.ns
.15
1 10
-
ST.
fi n-i
ii i-j
SL'O
l -e
1', S7
II 17
s .17
tlANItEIlB AVIi nnnuma
Uembura of PhllndtlpMa Sleck
Exchnntj
IIOTII PHONES
1430 Se. Pnn Squire, PLilidelphii
wiimimiiniiHi
V
COTTON MARKET
New Yerk, Jan. 11. WcakneR again
developed In cnttcn nt the opening to
day and pricPH dropped 1 te II points
l.eiew yestcrtm s close, intliienceil hj I
easy cablr, scattered local liquid iti.,r,.
Wall Street sidling and offerings frcun
Southern spot houses. Demand nn,
emte active nf tin start from I.inrpnn,
ili" trade and Japanese interest- but
was seen tilled up and prices centitnii'ii 1
their trend downward after the sturi i
ii' til thev were selling about 13 i 111 I
i " nts net lewtr. One netice was issued j
tli - morning I
'1 he early afternoon was quieter wire l
tr.iuble restricting outside business te
i considerable extent, and prices
showed a sllghtlj steadier ruling en
Usui nnd Wall Street covering. Later, '
Liverpool nances reported peer trade
''etnand for futures today. Leiallj,
trade demand continued in n small way.
Lut did net fellow the rallies. The
mid-afttrnoen market ugain turned
weal: under renewed Wall Street and
Sew Orleans selling
Lxperts were Id 'M0 bales, includ
ing 15, (HI te fireat liritnin nnd ll'jll
bales te the Centlnint. The total for
the season has been .I.OTH.TIM bales,
empnred with 2,580,21," for the cor cer cor
lespending period last season
PreUeui
Hlsli
is oe
17 OO
17 r,7
17 i s
in 3ii
PUBftO LEDGEKr-HiLADELPffiLk' wiilBNSDmr, xTAUXlfcY 11, 1922
i t.'.f
'V .r
J!
Sales
100
(100
000
490
nne
.100
loe
200
100
800
100
.1100
100
200
000
noe
400
00
,100
tee
000
800
300
.1000
10S
100
000
800
300
7200
3100
2100
100
100
1000
tee
.1303
100
200
100
1200
400
tee
100
tee
1300
100
7100
000
400
100
1400
300
100
1400
2300
000
300
Une
700
? 600
000
800
800
2400
100
400
400
100
ioeb
400
100
700
200
300
400
300
2300
300
1000
100
3200
1300
2100
100
100
1700
1400
100
4900
100
500
.100
17303
400
2SC0 2
17.100
300
700
2.100
1000
1300
100
1701
100
1C00
001
100
tern)
sei
310
5310
ion
100
000
tee
coeo
200
200
5H00
303
300
100
500
200
1000
100
100
tee
500
1400
500
noe
100
201
003
1000
000
3300
100
000
1500
7600
1700
1100
590
500
400
100
2700
2J0O
100
3000
4000
m Hlh
.. Adams Kxpress 40H
.. AJax Rubber 18?4
4 Allied Cham & Dye .. 57J4
7 Allied Cliem & Dye pM04
4 AlIlB-Chnlmcra 38 ?
7 Allls-Chalmers pf .... 88JJ
, . Am ArtIe Chem pf... 59
. . Am net Sugar 34J
0 Am ncet Sugar pf... 01
4 Am n Shoe Kdy new.. 4U
7 Am B Shoe V pf new. 08
.. Am can 33 a
18 Am Car & Kdy 14234
.. Am Cotten Oil 20
.. Am Cotten Oil pf 41(5
.. Am Drug Syn 48
.. Am Jllde A Leather.. 13!'.
.. Am Hlde A Leather pf W
.. Am Internat Cerp. .. 3H
1 Am-La France Lng . 0JS
Am Linseed 30
e Am Locomotive... . 104Ji
. . Am Safety Itazer 4 ,
. Am Ship A Cem 7yi
.. Am Smelt 44&
7 Am Hmelt pf 87U
3 Am Steel Foundries.. 32
.. Am Sujnr Kef 88S
7 Am Supar Ilcf pf ... 88 H
0 AmTol.ATel lltK
12 Am Tobaece 134U
12 Am Tobacco H U0M
0 Am Tobacco pf new . 07
.. Am Waterwks 0 pf 20
7 Am Woolen 80(i
7 Am Woolen pf 1035
.. Anncenda Copper .... 40JA
Ann Arber pf 30
4 Asse Dry Goods 40
0 Asse Dry Goods 1st pf 75JJ
0 Atch Tep & Santa Fe. 933
Atch Tep & S F pf. .. 80'i
.. Atlanta Illr A AtlanUe ?i
.. Atlantic Fruit 2J
7 Atl Reftnlnsr pf in
Atl Gulf SWISS., 39 y2
Atl Qulf A W I S S Pf 20H
7 Baldwin Locomotive . 94JJ
. . Half mere & Ohie .... 34
- .juiiiiuuru c vnie pi., oe
. . unrnsuaie riass IJ .
8 Bethlehem Steel B .,
. . Brit L'ni Steel 1st pf .
Brit Kri Steel 2d nf . ,
10 Burns Bres
.. Burns Bres 15 wl..
7 Bush Term pf
. . Butte Cenner A Zinc.
Butte & Superior Cep.
10'j
02
,lt31
. 2'
. 89 U
K
22 55
.. Butterlck 20H
. . Cadde Central O A It 10H
0 California Packing ... 69
.. California Petroleum . 44
.. Cal Zinc A Lend .... 0
10 Canadian Pacific ....121
...Carsen Hill Mining.. 12U
.. Cerro-de-Pnsee 34J-J
. . Central Leather 30
.. Central Leather pf . . . 04 4
O Chandler Meters .... 30ft
Z Chesapeake A Ohie.. 54?;
.. Chicago A Alten . ... 4j;
.. Chi & i: III (new)... 14
.. Chicago A Gt West... 0
. . Chi A Or Weet pf ... 13
.. Chi Mil A St P 17 ?i
.. Chi Mil A St P Pf 30i;
8 Chi A Northwestern.. 02?$
7 Chi A Northwest pf...l01i4
.. Chi n I A Pac 31
0 Ch n I A Tc C"c pf. 7154
.. Chlle Copper' 10 j
. . Chlne Copper 27 ',
1 Coca-Cela 42 Jj
. Cluett Pcabedy 43
4 Colerudo A Se Cd pf.. 49
G Celum Gas A 1'lec .. CO?;
.. Celum Graphopheno .. 2'J
. Cel Graphophene pf . 9',i
4 Cemput Tab Bccerda. 01
. Consolidated Cigar . . 27
7 Consolidated Gas .... 90?;
.. Consolidated Textiles. 14
0 Cern Products Bef .. 9'57
7 Cern Products Kef pf. 112ft
30 Cosden A Ce 32J
4 Crucible Steel 63
7 Cruclble Steel pf 83
.. Cuban Am Sugar ... 10J
.. Cuban Cane Sugar... 8
Cuban Cane Sugar pf. 17 ;
4 Davisen Chemical ... 5l?
9 Delaware A Hudsen ..107
6 Del Lack A Western.. 113
8 Detroit Kdlsen 101
1 Deme Mines 21H
(1 Hnd cott-Jehnson .... 77
7 Lndlcott-Jehnson pf .lOOi
.. Krle 9
. Lrle 1st pf 13i j
.. Krle 2d pf ?;
8 Famous Players L . . 77?;
8 Famous Players L pf. 03
8 Fisher Bedy of O pf . 77
.. Flsk Bubber I25s
. Freeport Texas . . 13
General Asphalt . ... 38?j
fl General f Igar ... 08
8 General Klectrlc .. . . 13H!5
. General Meters .... t
0 Gen Mters deb CI... 72?;
. Goedrich B F 33',
7 Goedrich B F pf . . . 82?;
. Gray Davis 13Ja
4 Great North Ore ctfs. 32
7 Great Northern pf . . 72',;
Greene Cananea Cep 20 H
.. Ouantaname Sugar .. 9K
.. Gulf State Steel 40 'J
. HnJblrshaw LI Cable . 1
4 Haskell A Barker Car 80' J
.. Housten Oil 73t
.. Hupp Motorcar 11?;
7 Illinois Central E8a
.. lndlahema Ref ... :v3
.. Inspiration Cen Cep.. 30B
0 Int Harvester new ... 81!j
.. Int Mcr Murine I4t2
0 Int Mer Marine pf . . . 07?;
. . Internat Motertruck .. 201,
,. International Nickel . 11?;
., International Paper .. 49 H
...Invincible Oil Cerp... lli
. . Island Oil 2I4
. . Jewel Tea 1 1 H
. . Jew el Tea pf 403,
.. Jenes Bres Tea ... 37 J;
. Kansas City Southern 2J4
4 Kansas City Se pf ... 51
. , Kansas A Gulf . . 7
.. Kelly-sijir ngflcld Tire 36,
8 Kelly-Spg Tire 8" pf 02
.. Kennecett Copper ... 26H
.. Keystone TAR. . 17 b
Tutul sales. 4Cu 7w chaiea. cempirrd tl.
IOW
4"W
lU
57 U
103W
38 14
tYi
58
34 ft
01
6314
98 JJ
33J4
142?4
l?4
41
4H
12"8
38t&
39 ft
9A
30
104
4!i
7U
44
87 H
31J,
68
88 ft
ltJ4
131y4
127ft
97?;
20
80 ft
102 Vs
48 J,
4514
73Ji
035
80'i
T
2?;
115
2915
ee?i
033;
31 r a
8215
1914
60 J4
01
2214
11114
2S?,
8S
5?;
2115
20
10ft
08
43?;
a?;
120
12 ft
34
2H
041J
60
04 ft
4?;
133;
15
"34
3014
01 15
1001,
no?;
713,
163;
27
4'i
43
40
60
' 3
05
57 ft
27
9015
133;
94?;
Ill ft
33
03
82
13?;
81.
1034
50 ft
107
11315
1004,
21
70.,
10015
8 ?4
139.
8?;
7015
05
77
H?a
13
57
68
130 ft
HJ.
721J
3315
82?;
13
31Ta
713;
20 S
eii
4334
u
7915
73
11?;
083,
J?i
39 li
8014
14 ft
60H
20J4
HH
4814
14 ft
Today's Net
Clere, Chta.
&
y
I'e
14
1ft
1
lft- Vz
8714
104 ft
3814 ..
88J4 ..
6S H
34 ft
01-1
, 81ft 2H
9814- 1
32J4
143?; 1ft
20 14
41 - 14
2ft
88J4 4.
39 J5-
014 I-
30
104 JJ
K
714
4414 r
3214 hl
6S?4 f 1
l"ft l
133 14 -Yi
129K n,
07?; ft
20
80J4 f 'i
10214- li
49ft H
304
40
HJ4 t-
93M
80J4 t-
J4 4-
29;
113
K914 4-20J4-94
H '
34
4014 'r
0! V
2215
116H ;
0 ft f
89 1
3;; '
22'if
29 a f '
10H- ft
09 - ft
44?; 1H
0 ft
120;
"ft
3415 f
30 ;-
041.
50 (
6i?;
4?ii
13
0
15
1734
30H
02 ft
101ft i
30ft
71?; 1-
16 ft f
27 15
4314 V
43
4ft
60?; s- ?i
2Mi -
015
00J4 3!4
27 - 1
0014 - ft
13?;- ft
97?A r 2?;
112ft 1ft
Dlv.
Sales In $ niih
800 0 KresBe S S Ill
109 .. Lackawanna Steel ... 48?4
1000 a. 80 Lehigh Valley 89?;
200 1 Liggett & Myers 103?;
i-lKBOlt gc aivera nr...lOD
T Lima Locomotive .... 93ft
. . Locwe Ce 12;
1 Left Candy OH
12 Lerlllard Tobacco ....181
7 Louisville & Nash. . . . 110ft
.. Maclntyre P Mines.. 2ft
0 Mnchay Ces 72?4
4 Mackny Ce pf 60
.. Manati Sugar 3414
75 Mnnhat Shirt 3315
7 Manhattan FJ6v guar. 33T,
.. Market St Ry pr pf.. 39ft
.. Market St Rwy 2d pf. 7H
.. Marlln Oil 20ft
2 Martin Parry 2155
...Math Alkali 22ft
b niay Dcpt Stores 107
100
500
309
800
400
4430
100
200
300
1700
200
000
100
2200
700
900
703
21390
200
303
13 Mexican Petroleum ..110ft
8 Mexican Petroleum pf 80J4
9 tlBH.I -,-.. Afl?
i. I .mm. -....u v,upiier "7
A ?. 1,2 JI'ddle Stntcs Cerp... 12
nuavole Steel 2094
Minn ft St Leuis 6?;
Minn Ht P A H St Me. 04?;
Me Kansas A Texas..
Me Kan A Texas pf.. 1;
Me Kan ft Tex (wl).. 814
Me Kan ft T (wl) pf. 28?;
Missouri Pacific 10ft
Me pacific pf 44 ft
MontR-emcrv Ward ... 12?;
Merris -ft L'ssex 70
National Biscuit 12flft
u
4
114
?4
Ti
14
ft
14
ft
.
U
ti
1
H
"ft
44J,
37
22 ft
51
e?
35
03
28J4
17 ft
tils 700
32?;
03
82
1014
8ft
101, f
51ft f
107
11314
101
ft-
106 J4 -i
0
1314
83i
77H
93 -77
-llU-13
58ft
08
13815
9
72?; .
3514
82?; j.
13ft
32 f
72ft r
20 H -ft
.
404 h
1
80ft f
"34
1131
9?k .
314
39?4
81ft
14 ft-
06?;-
20ft
HH .
49
!.
2ft-
'4
!4
1ft
?4
155
5.
?4
ft
55
1ft
1
1?4
2ft
1H
H
1ft
H
2?i
1J4
H
ft
14
ft I
bi
y
40?; I- 3?4
37 ft ft
22ft- 'j
54
7
3014
02
20K
17 H
15
0100
tee
tee
700
100
3500
1209
200
200
700
300
600
100
5300
100
300
300
1400
.100
300
1600
100
300
400
100
600
300
8851
3000
200
2800
2800
600
.100
300
203
000
000
0010
900
800
200
3100
000
700
2300
.1100
P60
100
600
100
3S00
'100
100
400
210
400
800
100
200
100
200
.100
003
803
300
1200
600
4100
tee
2500
100
1401
000
200
700
1300
700
400
.100
19300
600
200
400
21000
600
2103
3100
300
1809
700
100)
890
30)
100
100
100
100
2000
100
0700
1400
000
2100
500
200
100
6400
100
4200
600
900
200
100
700
100
200 :
200
600
303
300
100
300
1300
700
700
100
300
Natlennl Cen & Cable. I ft
Nat Enam fi St 3'.
National Lead pf 10ft
Ney Cen Copper 14?;
73T,
1.115
48
39 K
75 ft
2'5
0
2ft
1315
10
Sft
431 J
80 '5
4.1 '
33 'J
9ft
6 New Tork Central
. NC.W Yerk N II ft H.
3 North American ctfs,
3 N American pf ctfs.
7 Northern Pacific ...
.. Neva Scotia S ft C.
2 Nunally Ce ,
.. Okla. Pred A Ref...
. . Orpheum Circuit . . .
.. Otla Stcel .
.. Pacific pccl Cerp..
3 Pnclfle Oil
0 Pnn-Amer rotrel . . .
0 Pan-Amcr II
2 Fennsylvanl.i' It R . .
Penn Seaboard Steel
8 Peonies Gas Chicago.. 01 3;
. . Pore Mabquette 20
3 Philadelphia Ce 3.1ft
..iPhllilps-Jenes 023;
2 Phillips Pet 29ft
.. Plercp-Arrew Moter .. 14
.. PIcrce Oil 1054
8 Pierce Oil pf 07
B Pitts Cenl 02ft
.. Pitts ft West Va 24
.. Preducers Refiners .. 273;
4 Pub Service 'of N J.. 00ft
8 Pullman .109
.. Punta Alegre Sugar.. 33?,
2 Pure Oil 35?;
. . R R See Ce III Cen Stk 01
8 Railway steel Snrlntr. 95
. . 'Ray Cen Copper
1.35 Rand Mines
14?;
20 ft
73
47
50
Rendlmr
2 Rending 1st pf.
2 Rending 2d Df.
.. Remington Typewriter 25?;
. . Jicpiegla StPei 2,5;
.. Republic Iren ft Steel. 62
20 Reynl Dutch Amcr... 51
.. St Leuis San Frana.. 21
.. St leuls S W 21
.. St Leuis Southwest pf 33ft
.. Saxen Moter 2j
. Seaboard Air Line. .. . 3ft
. . Seaboard Air Line pf . 4
.. Sears-Roebuck 02?;
7 Sears-Roebuck pf . . . . 04
. . Seneca Cep Cerp.. .. 20ft
. . Shattuck Arlzenn Cerp 8ft
. . Sinclair Oil 19i;
Sless-Shef field .10 '5
0 Southern Pitelllc .... 79J5
. . Se Perte Rice Sugar . 43
. . Seuthern Rail 17?;
.. Southern Rail pf 47ft
0 Standard Mill pf . . .84
4 Standard Oil of Cal.. 04
5 Standard Oil of N J.. 173ft
7 Stand Oil of N J pf..lllft
2 Stewart Warjiar Speeq" 23J4
Stromberg Carb
7 Studebaker
. Superior O.l Cerp . .
. Superior Steel
.. Tenn Cep A Chem...
3 Texas Ce
. . Texas t Pacific
I Texas A Pac C A O.
2s Tex Gulf Sulphur...
. . Third Ave
0 Tobacco Products . .
. . Transcen Oil
. Union Oil
10 Fnlen Pacific
7 Fnlen Tank Car pf.. 103ft
inlted Alley Steel... 23
8 United Fruit 122
.. United Rwy Inest... 7?;
. United Rwy Invest pf 21ft
0 United Retail Stores.. 6?ft
3 U S C I P Fdy pf..
..US Feed Products...
..US Ind Alcohol
..US Realty A Imp...
. U S Rubber
8 U S Rubber 1st pf. ...
U s Smelt A Bef
I SO V S Smelt A Ref pf..
8 U S Htcet
7 U H Steel pf..
2 Utah Copper .
.. Utah Sec ....
Vanadium Cerp
37
82 ft
5ft
2614
ft
43
2815
24 ft
41ft
17
0315
10
10ft
120 '4
60
s?;
30 ft
8714
53 ft
99 ft
3414
. 43J,
. 83 ?,
.115?;
. 04
. 10ft
31?4
0 Va Iren, Ceal A Ceke. 87?;
.. i) iiuusn e.
.. Wabash pf A 20
Wabash pf B 12J4
30 Wells Farge Lxpresa. 73
.. Western Maryland ,. 8?,
4 Westlnghouse U A M. 40ft
7 Western Union Tel... 01?;
.. Wheeling A L H 0
. Wheeling A L L pf.. 12ft
4 Wblte Moter 30ft
. Wblte Oil Cerp Oft
.. Wick Hpene Steel Cen 14 ?;
.. Willys-Overland 6?;
. . Wilsen & CO 28
fl Werth Pump pf B ... 00?;
Ex dlvldtni
harea jf.terday. Thus fir tliU week, 1.170 ROD
1.0 1
110ft
48?4
H
103ft
109 ft
93
12?;
ft
14814
110
2ft
73W
57 ft
34
33?
38J4
39
74
23 ft
21
22
104
1073;
80
20?
UK
29
5?
01?;
H
14
714
233(1
16 ft
44 ft
12H
75
120
Hi
30?;
108 ft
14 ft
73H
13ft
474
3Sft
71ft
2415
Oft
2ft
13ft
9a
4415
4Sft
44?;
3i;
S?4
eift
I0ft
3.1
024
28 ft
13ft
10ft
04
03 ft
24
25
69
107 ft
32 ft
35
01
95
14 ft
20 ft
71?4
47
50
25 ft
27 ft
62
50ft
21
20ft
33 ft
34
2 H
3ft
0215
01
20ft
8ft
10
30 15
78 ft
43
173;
46?;
83 ft
94
17215
"434
? .
30ft
80ft
3ft
20 ft
0?;
42
25
24
40ft
17
02 ?a
0ft
lift
125 ft
101ft
25
122
7?;
l!5
62
60
'ft
3S?a
37
52 ft
09 ft
.lift
43ft
H2ft
115?;
02
10ft
30?;
87 ft
055
ie?;
12 ft
71ft
8)a
49 ft
91ft
0?4
13 ft
30H
0ft
14 ft
Oft
28
06
Today's Net
Clo-e Chae.
HI 1
45H- ft
88?; ?i
163?; n?4
109 1
aft f- 14
12?4- 54
ft ft
l0ft 3ft
110
2ft
73?;
87ft
34ft-l
33 ft
33ft
39ft
7H-
25;
21
22 -104
110ft
80
26?;
12
20ft
8?; 1-04?;-
K
1?4-
7ft-
23 U
10ft 44 ft-
1254-
70 11
ft
ft
1ft
"h
lft
M
"ft
"m
"ft
l'a
"v,
FURTHER ADVANCE
N WEST JERSEY
Lecal Shares Conerally Firm in
an Extremely Dull and
Narrow Market
ift
ft
ft
ft
1
Hi
M
'ft
3a
120 -
1ft-
3234-r
108 ft -
14?;
73ft 1
1315 49 I
3.9 ft 1
75 '4 i
34ft r
9ft-
2ft
13ft I-
04-
73;
45 ft !
6014 45
33?;-
8ft
01ft 105J
33ft
ft
13ft
10?4 -00
-02ft
21 -2734
no
109 -33
1
33?;
r,i
05 1
14 H i-
20 ft
73 47
50 -
23 ; r
2715-
62 !-50ft-
21
21 !
33 ft I-
2H
ar,
4 -
02 ft ft
e f
20?;
8ft
l?i ft i-
46
17ft-r
47?;
84
94
171
11414
2.1 ft f
37 r
82 -f
5ft-iOft-
ft
45 1- 2?;
23'
24ft ft
4ifti- ?;
-f li
C3ft 1
10 !',
1 I- ft
120 ft i- lft
101ft
23
122 J- 1
??4 ft
2114 1- ft
83ft-i- 15
60
7ft- 1
39 i
37 'ti
33 ft i-
09 ft
31ft-
43 ft I
K3H
U3?;
04
ie?4-30?;-
87?;
Oft ,
10 34
12ft -72
SK .
"ft l
015; 0a I
1215 .
30ft-
M !
"?4
5ft
29 0?4
1
It wni nlse In the bend rather than
the Bleck division the greater amount
of interest centered In today's local
market. Trading in the stocks was both
flat nnd nf smnll dimensions, Indicating
Ilttle chnnge in the temper of senti
ment or disposition te sldc-stcp the
wnltllng policy. Ab naturally would be
expected In such a narrow, circum
scribed mnrkct, price chnnges wcre
mostly In fraction-. The tone of the
market nevertheless continued firm,
which nttrncted mere nttcntlen because
of the picayune caliber of the dealings.
Among the few outstanding features
was the continued 6tcady mlvnnce In
price of West Jersey und Seashore,
which ndded another point, reaching
W, and which also disclosed virtually
Ilttlp stock In sight. The consistent
enhancement lu the market value of the
stock nnrilnllv rhtillrmq the crewing
bellpf of nn early restoration of divi
dends. The continued tlrmncs of Penn
sylvania Ilallread wns another feature,
with the ntnel mnsf nt l!n session taken
pt ill. although nt Intervals the price
was snnucd siigntiy. viwe wccks iroei
today the director!) will deelare the 1
per cent qunrterly dividend, innklng a
full 4 per cent out of the earnings of
lust yenr.
American Hallways common mode a
new high for thp current movement nt
ll'! ami the preferred held firm nt 'tVi.
The rharncter of the buying suggested
quiet accumulation apparently prompted
ft I by closer knowledge 01 the inner worn
ft iKS of the mnnngcincnt. In the after
ft I neon American Stores In n sinking spell
H L dropped te 8,'l, n less of 12 points. Lc-
ntgh navigation, en small snies, ic
(lined 1B points te 07. while Penn
Centrnl Light preferred advanced ltt
te 0. ,
Little Interest wns nir.nln manifrstcd
lin the utility group. V. (i. I', shaded te
.IS'li. but the preferred remained well
pegged nt fit. The Philadelphia Elec
tric Issues were slightly higher. Phila
delphia Itnplil Transit touched 10, but
ngnln secured te meet stock. There is
considerable diversity of opinion con
cerning the outcome of the valuation
proceedings before, the Public Service
Commission. Seme seem te think n
valuation will be placed en the sj stem's
property which will wnrrnnt n fare
which will insure a maintenance el
rentals te under! Ing cempnnlcs nnd al
low for dividends en the P. It. T. stock
ns well. Thprp nrp many nnd some well
posted en the street railway question that
entertain quite n different idea. They
imlnt out Hint the company's valuation
is little short of extravagant, and they
leek for it verdict similar te that ren
dered in connection with the Pittsburgh
situntlen, which may net only preclude
ipsumptlen of dlxldcndt en the P. It. T.,
but nlse may influence a material ad
justment of the rentals paid te the un
derlying cemnnnics. Beth arc mere con
jecture nnd the question will seen be
M'tt ed by the commission.
2?;
ft
3ft
ft
ft
?4
lft
1
!'.
lft
i'i
M
?4
H
?4
ft
:i
ft
'4
RAILROAD BONDS
Tax Free in Pennsylvania
$50,000
Philadelphia, Baltimore & Washington R. R,
let 4s, M & N, 1943
Price 88 and Interest
Te yield about 4.90
$100,000
Pittsburgh, Cincinnati, Chicago & St. Leuis R. R.
Cen. "C; 4s, M & N,- 19S7
Price 85 and Intereat
Te yield about 4.90
$50,000
Beech Creek R. R.
1st 4s, J & J, 1936
(Guaranteed Principal and Interett by New Yerk
Central R. R. Ce.)
Price 88 and Interett
Te yield about 5.20
$50,000
New Yerk, Philadelphia & Norfolk R. R.
Stock Trust 4s, J & D, 1948
(Guaranteed Principal and interett by Penna. R. 7?,)
Price 79 Yi and Intereat
Te yield about 5.45
ELKINS, MORRIS &. CO.
LAND TITLE BLDG, rHILA, PA.
Member New Yerk and Philadelphia Stock Exchange
aztinn
MS ""EJfl I -
dm r bJ
We Own and Offer
COMMONWEALTH OF PENNA.
4 1951 107.23
CANADIAN PACIFIC R. R. CO.
4 Debenture Stock 78
INTERNATIONAL PAPER CO.
1st & Ref. 5's 1947 87
AMERICAN SUGAR REFINING CO.
G's 1937 982
GRAND RAPIDS & INDIANA
2d 4'S 1936 78
KINGDOM OF DENMARK
G's 1912 941,
KANSAS CITY, MEMPHIS & BIRMINGHAM
Income Mtgc. 5's 1934 86i2
Yield
4.10
5.12
6.007c
6.15
6.40
6.50
665e
iBii
4 ' 1
it? 1
3
2
H
t
lft
ft
34
1.
Philadelphia Stocks j
"O.VAm Sirs,
Ilixh
81
lv
Ml
Net
Clo.ie chue.
HI I
'J.-, de 1st pf.lllV, 114i 114i ',.
IK) Am Ks.. tl$ l M"i..
I'd de pref... U7'j
: i;iv ster.i'jit
55
lft
?4
15
H
2
ft
ft
?4
H
ft
'a!
ft
1
sit.
(!7
r.sv,
nTs
71
1!)T,
;u '
4't
li74
111
Ten;
117 2T1V...
122. VS
Si,
new.
(17
ns
IITh
73
4l)3i
:!.'U,s
001.
Tit)
.".(I
'J I
1H.
72',5
Aft
sir. 4- if
1 BATTLES & CO.
I Established 1SV0
I Independence Square (East), Philadelphia
SllilffilMBffiM
9i -t-
netnup
loot 1 c N A
10 I.eh Nnv.
:!0I.eh Vnl..
HI01 Slid S O.
330 Ner Pa..
ID Penn Cent
I-ight pf.
IM Pa It It..
.'(0 Penna Salt (Wl
1 10 Pli Ins W r.e
11.. Philn Ce
cum pf..
2m; Phila KIci
!'17 de pref. .
2!l.- P It T...
20tUending..
-1 1 en .11111. nvj i-i-n
intl'n Pac. .12(1'. 12(5U l'JO'7.4-1
2,"(ir(l I.... ,'lSTi JWVi 3ST,..
14(1 de pref. ,T1 r.OTi 50 U
100 W .1 A: S. 32'i :i2V .'12 ,.. 1
t.t (hai'Re marte liy rnmrarlden with last
sain en New Yerk Meck Exrhanipa.
1.x ill.liji'iid teilH--In Ce. N. A., 11.00
Tetnl sales 3."iiH shnres, compared llh
11I1H hir jcettrd.u. Thus iar tlila weuk.
1(1, bOi) shares
rilll.AI)KI.rllIA ItONDS
1000 Liberty 2d 4is '42
(17 1;
R8W Os
11..
71 -f-lVi
40-7111',
31 V,
00 1(. 'j
r.e i,
.".0 . .
21 ..
27-y, . .
ist; v
72V l
Aft-.iV
I'lCSC 0tfi
Ian is fie
Marh 1s 00 IT
Ma i7 17 51
tul 17 trt 17 Ot
nt mas 10 as
i.pi.t H.20
17 7J
17 II J
17 2S
10 7S
in la
riev
17 t)2
17 sjr,
17 41&15
in 111)
10.;;
We Own and Offer
Toreuto. Hnmllten i. llufTale
1st 4a, Itin
Atlantic & Vadklu
lat 4a. 11)10
MehuMk t: Malune
lat 4a, 101)1
Current ItUrr
lat Da. 1027
WlBtMU BtM, PHIUDKlHIA
niwnmHni.R
NEW YORK COFFEE MARKET
New Verh, .Inn 11. The local coffee
futures market started 1 te 2 points
'ewer this morning lu response te the
rather disappointing, show Ins of the
irimnry markets Trading was centined
te les.s than 1000 bags of .lulj and
September. Itie reported clearances of
TIM) hues fei New Yerk nnd 2500 for
New Orleans. Santes cleared 48.300
i 'incs for New Yerk, (10,000 for New
Orleans and 2500 bags for Onlvesten
At midday the leeni market was dull
and fcuuieless, theie haMnjr liven no
liniisnctlens Binre the epenipj mil
.lehblnp houses repertel 110 l7nproe l7npree
ment in d"mnnil for spot coffee, 11 1 .
1 though quotations were heldin? fntrh
siead.
irlm
leadlti
",l V ..- .. . m- . .
fKttBBWSftrmSSSSfmr
'-'IMBIIiiTiTsfiiiiTTiwWS H
A X It-
v' v 1
aMManaaMBiiaBBHai ti. 17.' Tiy.-" 'tL 'a '
Open High Ixw riesn
J?n sr,.'31
"'I' . . . s S7
Manh s:.:iUU4 . . SHSOOl
April . s 114
V.u s 11 'i In . H.4nW4S
June R 41
Jul S :til i 17 h 37 s 31) S,3n3S
AU.- , H ,'17
hai.t b a..tl3tj 8 37 S.33 8.il738
Olt. ., H.SS
Nev,,.. L.jiu 0.84
DtfC .. . 8 SJ033 8,33
Nominal,
I
.-.. . lu.
FOREIGN EXCHANGE
New Verh, .Inn 11 - The foreign ex
change market was epiut at tne open
ing this morning, and in many m
transactions w.-re a matter of indi
vidual negotiations
The 'nnrket failed te show icfle lien
cf the curre'tt reports of important con
structive d(M'li.p:neiits or International
linnnce and trnde. Iluslnes was i.,ml
erate nnd I" the second hour the hud
irs wre sll;htly reactionary. Sterling
cables were 4 22.. demnnd 122;
Franc cables 8 27H-. fUarkn S2i.i..;
lire cables 1.30j, cliielts 1.30; marks
.57.
The Central Kurort nn txehnnges
were quoted tednv ns follews: Hu
mnnlan .84; Bulgarian .7(1: Serbian
1.3ti; Crecho-Slevnkinn 1 02; Jugo Juge
Hlnvian .31 ; (Inch 4 40; Polish .037 i ;
I'lnnish 100; Austrian .03V4 ; Hun
garian .17.
The premium en Nnv Vrlt exchnngf
In entrenl was 55N per cent today.
The discount mi Canadian funds m
New Yerk was 5'i per cent. The
Seuth American exchanges were quoted n Pfrrf,1
irslnv as
.. , n ,,l.,, tt.i
I rilguny, i .ti , ' line, auyj
121', .'
YKbTEIU.AY'H riNAI, QL'OTATinji.s
Sterllna: Krnnca I.Ira Oullders
D'mand . 4 2J'i S 31 4 31 30 75
Cable, 4 23S HU'j 4 31H 30 81
TODAY'S OPHNINO QL'OTATIONJ
hierllng I'rania I. in CiulldT.
..4 'iHf H 27V4 4 31 30 71
. . 4 2UU S Jtsft 4 3P4 30 7U
NOON QUOTATIONS
Sterling Tr.inca Lire Oulldars
4 -ii) s -a ( 3nu aa 70
MONEY-LENDING RATES
NEW 1'OKK Call money mn hlKh 3' .
low, SH i rullnc rate. 3., cluslnu bid. 3,
efti-red at n'i 1 laat lean, 3H .
A 111 tin irency wu leaned today for (10
'laa en hulf-ftlld-half rellatT.il at 4'i p.r
rent, anl the quotation for two te four
mentha en tnduatrlala was nominal nt 4',-Hj
li per cent.
L irnnA In-tnlrv ffrtm ttailnp. tmn!u nnrt ' tlln Kfflf 1 Avnlinnirn ,..li. 1... I..
out-of-town institutions i reported, for mnlnlne llcbt becnnse ., f.i. .1.. .il..
bank aeceptancea j'ortfelloa of the I '..;'.. .V "I , """ i"i
LONDON STOCK MARKET
Business Remained Light Feeling
Confident Heme Ralls Gain
Londen, Jan. 11. There were no
expansion in dealings In securities en
07.78
08.00
07.80
07.02
... 07.08
... 08.20
lets 08.10
... 08.08
.... 07.88
08.00
07.08
08.10
07.04
07.00
letB.100.12
letB.100.10
..lets.100.14
ln houses are runnlna- low and net i l uih iioeui u general election next
many new euia nra in ma n nrKrt. in an mentli. The feeing continued cenll.
h tnnnair mnrUnt. lhnri wan rpflMi-tlnn I.. , . t. . ......t.u I Ullll
entlclpatlen of en Impendlnit reduction t t "ent. Jinestincnt support caused
rr eent In the redlaoeunt ratu of the N. n I strength In the gilt-edged list. Tliern
v.... nn.l nih, ...Innlnnl I'n.lim I.'..!..., I .. II. .... I... ,.. .. . '"
Heiwrve Tlanka,
Prima merrantll, paper is .emewhat tnrre
actl9, ns Is usual In ths first two month,
of lh builness jear Quotations are nam iul
at 4'i DU Per cent
I'rlms bonk acceptances are quoted at 3'.
(h 4 ber cant, and semu houses are 'juetlnic
t'ldl per cent.
PIIIIwIKI.rilI. Call. r,'i en per cent!
t'me, fiHO rr cent. cemnwri.lil ra. r,
three te six K.enthn, BHtiO pt rent
DIVIDENDS DECLARED
National Ulacult Company quarterly 1 H.
per cent en common, payable April 15 te
stock of record March nl. and 1 per cent
.HauiQ feuiuary na ie slu.ii
i ..n i ., ,a . nf rtcera rurauery i.
li.iK.nn. ,i.iniiif, .i.,n: -., ... Woolworth
Demand
Cables .
,.. v IVnolwerth C nmDan nnnrt.rli tn
ltliuil, en c'emman. payable Jlarch 1 tu ateck of rci."
cid I'.'bruury 10
Plttsburg-h and Lake l.rle, aeml-annual of
12 50, payable 1 ebruary 1 te stock of record
January, .6. .
I'.i-isolllatlen foal t'empiw quarterly of
1 50, payable January 31 te stock of rmerd
January 20
Hlnclalr Cornelldated O'l, quarterly J en
preferred. pauble Tebruary 2S te slef l( uf
record February 15
Demand
Cables
S27
Vest
tlose
8 .',2
S 57
S llj
s -,.'l
S 15
S 41
S '111
H 51
s :i7
s a,-, Demestic bar sliver was unchanged in
n.et Yerk ceaay 91
s .11 I Aftr. A ri.H'llA
wks !id lower at S3Hd
Demand
1 Cables .
4 22H S JO 4 31Va 30 7S
CLOHINO QUOTATION'S!
Hterl'ne Krancs Ura Oullders
4 32 80 71
i.VUi 30.80
K11 .p.i .. a II. .1.. I..n...... ... V. 1
1 a nine- inicrcii. 111 i reneii leaiiH,
penuing lurtlier tlet'npments at the
meeting of the Supreme Allied Council
nt Cannes.
Hopes about dividend disbursements
led te further gains in home rails. Dol Del
lnr descriptions were Idle, but stcndler,
Argentine rails dropped, but were net
active, Kaffirs wctu colorless und nnin.
lnnl because of the strike at the prop
erties In the Trnnsvaul but tulMces
received here today reported a new offer
from the unions te bring ubeut mi
end of the trouble.
Irregularity marked the business in
oils, owing te adjustments-, shell
Transpeit nnd Trading was 4r',, m(.xi.
can hagle, 3 0-10, nnd llejnl Dutch
35;)i. '
Thu ruhber list was dull, WI
nathy with the staple. There was 'fair
buying of industrials, which held well
Hudsen's Buy was r.
2500 Liberty 2d 4 VI 8 '42..
25000 Liberty 2d 4Ms '42..
11300 Liberty 2d 4Vh '42..
100 Liberty 2d 4V4H '12..
-MOO Liberty lid 4fts '1!H.
2000 Llbeity 3d 4Us '28.
2000 Liberty 3d 4is '28.
Jtiii i.inerty ;iti -IV4H "jn.. .
10500 Liberty 4th 4 VI 8 '38.
1300 Liberty 4th 4Ub '38.
5000 Liberty 4th 4i,Js '38.
700 Liberty 4th 4V.s '38..
2150 Liberty 4th 4Hh '38.
IIOOO Victerv lsis '23
2000 Victory 4V,s '23
22000 Victory 4'VlH '23.
r.0il Vlcter. Pis "23 lets. 100.00
500 Amer (ins A. P.lec 5s 8lj
2000 Amer flas & P. lee .r.s.lnt8 81
1000 Baltimore & Ohie 1st 4s. 78
1000 Bell Telephone 7s 108TH
5000 Kleclrle & People' 4s.. (12 .
KHIOPIuhi P.leetrlc 1st 5s 01X4
3000 Philn i;inctrle 1st 5s.... 05
14000 Plillu Klectrlc 0s. . . .lets lOOiJi
3000 Philn niectrlc Oh lOOLi
500 Plillu 13i'(trie 0s inf7i
3000 Philn Hlcetrle Us.... lets 1000's
Total tia.'dSO. compared with 1120 000
caterd.i Um far this woek. 11,0(11,800
LIVESTOCK QUOTATIONS
-nXWV J?,n-.u-" CATTLi: Itecelpts,
,000 head lleef atecri actlve mostly 15
'.5e hlKher quality iilaln, hulk, JO 78 7 85
fat aha stock and cales streni. bulla steady
ateclter and feeders aliiinu te 28c lilnhtT
Short Term Investments
Maturing in
2 'te 12 Months
Yielding from 6.50 te 7A0C'(I
Send for List S'e. 7302 of our recommendations.
Bonbright & Company
437 Chestnut Street, Philadelphia
Bosten Chicago
New Yerk
Detroit
MUNICIPAL BONDS
YIELDING 7
Maturing Frem 1 te 10 Years
V. W. MILLS & CO.
Stock Exchange Building
PHILADELPHIA
SI 33 Cl 60 built
! .000 head Talrly
ealeri,
BANK CLEARINGS
Hank clearings today cemnared with cor
responding day Inst two star.
10S3 mm in
Pnlla. . $70,000,000 177 818,031 J87.814 030
4 Jl!",i
4 J.1
saeb
n ftl
Uestcn
N. V
Chicago,
.iIKjCII.UII'I 4 I 017.519 7l7IHlr,l
.741.100,000 707.009,030 Olfl 033 '.'07
80.000 000 .. .... . '
BAR SILVER
i rricce ncuvy un rans uouree
Paris. Jan 11 Prlrea were heay en the
Iluur.e today Three pr cent rente,. 5U
franc, IS
fcr..l1lv" "u unchanged In New I francs exchange en Londen. 51
tr..Ti, in?' eunce: foreign, 'ccntlmesi 5 per cent lean, 80 franca 20 cen
"v mi. ." wiii ins pne, ue. cne ueuar was tjuetea at yi
centimes.
' franca 3 '.4
Liverpool Cotten
Liverpool. Jan. 11
today wltn price.
neciina or .11 poi
The sales were lOOtl bales The r...,i;,:
were U000 baies. uu American i'lTiiiV,.
were steady lu tha early d.allngs ?
prlcea were: American middling fni.
I3.12di geed middling u 47.1 fuffy ',! '
dll.ng, 1107.1. middling, ie 7i'd J ,V,i.f"
A In. U.fl.U. KUOU DrlLlru bi. .. "..
r;.n-. t Trt e.w-u.
and
Standard of N. J. Cuts Price of Oil
iv Yerk. Jan. II H. u. . . .
Company of New Jersey has Vedu"f,' lanu
wagon prlca of Raaellna nnd refined oil m
.u.v.
hulk bolegnas,
IB 111 Mill
IIOU8 -Ilecelnts
tlva mostly 157J"J3c hlahjr than eaterdny a
ueiase, hlir packers doing little. Tep, S 2
en ISO te 100 pound hogs, few odd iota of
I'ght lights, SS35. bulk. 7 JIOOS ulgs, uii
en. bulk, dealrablu, 88 2B; few et
$.'I5
HIli:i:i' Itccelms, u.tde head. 6enerslly
111! a312 73. bidding, Jli! 83, geed 03-pound
searllnis, 511 23, fat ewes, top, early SO 73
test net told
Pittsburgh. Jan. 11, HOOH Ilecetnta
SOtlO heud HCartv Heavies I8&8 6, hJaVy
JerKfrB. JSOoee, light erkera and pigs, (0
' SlVi:i:p AND I.AMIIS Itecelpta 000 head
Higher 'lup ahcep. 17, top lambs, tlJ.CO
aleicdi
CAI.VKS
Tep, Jl.' 50.
Itecelpts, CO head. Steady
Kaat M. Ixiuls, Jan. 11 CATTM: U--lpts
SMj luud Ilerf steers mostly 10c te
1.' h ahnr. nual'tv i.l.. I,, niL tr i.V ."
flit she stn.lt and light Knrllngs 13 te is,
hlnl.Hr canners, cutters, bulls and stncliers
" 1' t " vunce aiiuuu . uuiu.
tOCO 50
uy.
top Jie
HOd.S Itecelpts, 18 000 head. Actlvn
25.' tu 5lic lilgfinr, best butcher irail'. i?n
most. Tep, 18 4.) for light light.;',!? 20 U?
tiul Imlcher top bulk, 110 te 170 neuid
averages, 18 I5?r8 25, 100 te 280 Ceu SS
ayeiag,. J7 SSWS.in. packer re.U .ff.HPJ1
piga neauy te 25e hlchar. li tli
15 75 fell
8 3. nual'tv geed.
Sill IP Up. elpts 'jflil hen.l
... Itr. I..tli..n . .....
... .... .., ,,
inn l.M,
ActUe, bst
un.i an. ep
steady , I.uml. top te si Inpera ,,2?50 na.k
era pid $110 for choice Ves(V,,is', Pbu
best lambs going, I Sttis.ie SiiH.
HWiJU-Mi culls Void CSOise. ewcV
Additional Capital Supplied
te Corporations that are desirous of crpanding.We
will consider applications providing satisfactory
record of earnings can be shown. Ne considera
tion given te promotions. Write for appointment.
F. A. Travis &. Bre.
50 Broadway ""'"' New Yerk
ll&miLLtll' ' i.l s-U-aijJiaaaiaaxJLi,
Yeung Man Will Invest
Small Sum With S ervices
In reputable cnnrrrii (prrfrniulr
ninriuritf lurtiit-f). ltli opportunity tu
learn the liimlnrKs, Ae 23. yi,l
eur' ht.lnpH ni,,..n,. ""
if 1 T"ftnT1l ,11', ,,,. us
rmiiriiiiiiniiiMdiriViYfrrri
' y
i V '"i I
The
-irst National Bank
of Bosten
Capital, Surplus and Profits
$37,500,000
Central National Bank i Stockwell
of Philadclplua 'IVile'w D
r.i,rfM.,f c....L . t,.e, . Wilsen &
CERTIFIED PUBLIC
ACC0VNTAN7S
UdTiilleBlfij:.,Plife.
WVK
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