J-V7.i-"N jRJT i
"Hww M" '?7'.
"!'''
-;2?T3(t,-
1,
26
EVENING PUBLIC V LEDGEK PHILADELPHIA,; ' THTIReDAY, JANUARY 26, ,1922
. rj . y. j . ef -j irntiT
..
'n;
w
m
r
3
tf :j J
ift5.HU
i2Sinn tt'-
tW'8 n? ?
TW 1I4W Jl J
f cl"2
II
L,
palely
nd Wisely
handling nn estate de
mands experience, and cnlla
for the solving of problems
that one should liesitate
about leaving te the discre
tion of nn individual.
This Company operates
perpetually, is never sick,
is never tee busy and
never takes a vacation. It
has no selfish interests nnd
is absolutely impartial.
Our officers are always at
hand te meet every respon
sibility, and may be con
sulted at any time.
Integrity
Trust Company
Fourth and Green Streets
SUFFER :
IDERATESEIBACK
NEW YORK STOCK EXCHANGE TRANSACTIONS
Market Proved te Be Thin When
Peel Operations Began
te Slacken
1 Capital
a Surphi
and Profit.
. $300,000
.$1,860,000
Western Pacific It. R. Ce.
1st t5s, 1940
Scries "B"
So!e rumlcil debt of the com
pany nnd u first Hen en 1011 miles
of read i-enlltultue the main line
from Salt t-ilte 'lty :e Kan Frrti-cIfiij
f
Price 100 and int.
United States Gerrnmcnt
Bends and Certificates
of Indebtedness
Harvey Fisk& Sens
IMOON POHATI1D
LAND TITLE DLDG.
PHILADELPHIA
NcwYeik Chicago Dosleri
JOINT Stock Land Bank
J Bends arp issued under
authority of an Act of
Congress under direction
of a Bureau of the United
States Treasury. ' With
ether bends they have
been classified as instru
! mentalities of the United
: States Government and
are free of all State and
Federal Taxes, except In
heritance Taxes.
I ir invite inquirjt in respect te
the above or a,,' ether invest
! vicnt subjec'.
HARPER &TURNER
Investment Bankers
JfJjmbeTJ 0 l'hiladelplita Stock Ezchangt
vj Stock Exchange Building
sfrinten Philadelphia ndinr
fe ..,,-r--
x3OTOti
A Is
Mfa$.
m IYTmttlu c
EM0
itWif 1"
mi 1
ptt&'&i'&l
Phila. Electric
Xmv Yerk. Jan. 2V Tedny'w -took
'mnrltet ilevc'eped detinlte fractienary
j vmpti-nii nreund midday which wic
!net unexpe"ted In view of the dcMilterv
barklne and filllni; nf the immediate
ireeedln:; "eiuieii'i. Tlirre wa. 11 f-et-hnrk
riinnliip from 1 te 'J point in me-t
f the aetlvc isme and wltli wtd-'r
leelines In Reme of the recent over-ex-I
nlolted peel Fprclaltlc. The revcrsn'
I diKclnanl n technical position net per-
I tlculnrly Mrenc. but still anywhere from
I "ring weak Ncvertheh', the market
, wiiK found te be quite thin which wni
altogether natural in view of the ultra- .
1 'tiirciMeiini character of the ilcallnc
nd tli" conspicuous specializing of the
., -radlng which h marked the opera-
'it in reeent wceltM.
There wa no .iwintien of the n-
i rral .f the trend with am of the out-
".ill happenings as the cevernin;: in- I
Tience were contained willnn tl.
1 d.arket ltelf. A wllliiiRncMH en t!ii- ,
I'.ut ei the various poe's and -pvuln- .
lis- clliiues te eentitie the speelnl per j
fermrtnees a ninnifevfed. but the
further Kueivft:I rxpleltntinn of thee
1 mllvidual demonstratienn were creatl I
1 'latidicapped by rensrni f the pesiticn ,
1 taken by a number of the inlinential
1 reHimisMnn houses. Most of thes were I
1 opposed te customer participating In
the movements ti( the various (.peelnl- '
ties which have been RUlns the spec spec
taeulnr perferman 0.1. Thi- oonse eonse oense
qent y cut oft" quiU a eusnleral'le tol tel tol
'ewinz, and ntheis who had already
been attracted upon te attcmetmc t"
eii'l.5e eij paper prell'.s fe.tnd tin mar
ket veiy thin
Jr lie of the h-di peels retimed tl'e.r
epe ntletiH at the epenina a"'l "lie or
tw'e se'eetc.l iues sere bid up one ,r
r , p..:,ts, brt the market ree:i showed
a ''red r.ppearance and fn.led t" held.
l-riu's hrealtins erv penernlly nfte- the
first hei.r, nltheuali f,irlhi'rea"rient of
the mei.ev eonditiens was forecasted In
I utT'rins of call mene at f'-j per
ivnt at Jj per cent under jest, rdiiy's
iipeninc rate. Studehaker reacted I
Iieint. Davisen Chemical. -1". Htnl I tide
pendent Steels. 1 te peintJ. lielhlo lielhle
liem wa3 nn exception, its tirmnesi beimt
nsteilatetl with the publication of the
company s tinal report ter lii-l, snow
ms eurnlncn at the rate of 12 pr cent.
t'eiM'ers, uioter- and eiU be, amc heaj,
Stamianl Oil of New Jersey lulling 4
pelntn. Italls rcuetfd, Keuditi declii.
mp I ; e.r.t unaer steady pressure, t'-e
,iersal evtenilltti te ether "mI.-.
T.ntiie i.tiI chain-Mere issuer- vuie '.in.-,
te .1 iiu el iccrger .ituiera.
1 ,
Commodity MarkeCs
GRAIN MARKET
Chiiace. Jan. 211. Wheat t-tarted '
V4e lower fur Mav nnd unchnnced te 1
I,.- eft for July. Trade was moderate. :
I yeven cars were lnpicted yesterday ntut 1
, the last' twenty-two. Caish wheat was (
fir;a with (reed demand for better
R-radrs. Small letn of Ataerlciui wheat 1
were worked jestcrday, but tlgurcs
were net trlven. Liverpool futures,
epi ucd V4d lewer: sjiet were or. er.
eh.iiiRet1. Cern Martcd unchanged with a j.al!
and featureless trade.
1 ..Oats wen Mreng with i-ora:r..Kleu
, lieu'e eelllng eSset by buying b" -iiip-1
plnic Intercts
I COTTON MARKET
I New Yerk, Jan. 26. An opening de
cline of 12 te 40 points la cotton tuU
morning carried prices te r.ew 1 w level
for the present movement downward. '
but there met considerable covering bj
traders who had led the selling In the
1 last few dayi.
The further break thla rcerninj, after
yesterday'M late weakness, was at
tributed te peer caeies, active hemng
by Llverpcel, Nev.- Orleans and the
Seuth, and easier ferflgn exchanje
rates, lleslce nherts, the best early
buying wis for Wall street ecil th?
trade. Up te 10:15 o'clock the mar
ket, while active, showed little rnlljluif
power and held earely steady ar abej;
Initial le-e'.s. '
Receipt at the ports for the day are
estimated at 14,000 bales, ajalnst 20,
035 ba'es en the corretpendlng day a
week age; 31,020 bales a year age and
24.661 bales two years aee. '
Previous
Cloi Own
Mireb H-0S 14W
May 10.US 10 J2
MoetetMr 13 ea 1S.S0
ZKtTr.lKr 10.63 IB e
Dtv
Sulrn In I
41
.100
M0
21fte
ati.t
7JO
10 A
3(10
ioe
10V.I0
tee
21.
1.)
tOJ
3U0
ttu
1.100
10)9
109
109
tOl'l
19)
2'0
300
70J
tee
1S30
10JJ3
19)
enoe
3.)0
.10)
100
100
19J
430 1
3)J
100
l'WOT
3011
3t0
2)0U
10)
2)0
100
109
400
109
Oil
1CD0
tO)
.'101
JO)
103
Ml
nun
1.13
in
j 0
.me
; r.ej
tij
SOO
11)
:ei
an
.je
3J10
1U)
ltne
100
101)0
10)
3)9
101
101
1.0
aie
10J
10)
ijm
CVJ
VliJ
3)0
103
100
30)
3210
:e
4510
209
r,3u
1700
10510
HICl)
. lli
'. 49 W
. 14H
1M
m
. ?;
. si
. 87'',
OUfi
. "h
. Of,
u
. . Adnm Gtpresa
. . Advance Ilumely . . .
4 Air Reduction
. . AJax Ilubber
. . At.iN Hubber rts. ,. .
4 Alt ed Chem A Dye. .
4 -Alllfl-ClialmeM
. . Am Acrlc Cliem. .. .
4 Am II Shee Pdy new.
.. Am Hee!i .Macncte.
. . Am r- -i
7 Am Can pf
12 Am Car VAy
.. Am Cotten Oil
. . Am Priig Syn
.. Am Hide A leather.
.'. Am Hhi a: trfnt'.ier nf (iota
7 Am lev 84
.. Am Intermvt Cerp ... 41j;
1 Atn-t.( tr-inee Knff. . . OJj
. . Am Lis.eti 33
. . Am t.lnset pf 87
0 Am locemotlvd lOIVi
4 Am Radiator 63
. . Am Sfety Rater. ... 4
.. Am snip & Cem.... ft
. . Am Smelt 47
0 Am smelt pf S0'4
3 Am Steel Foundries. . riU
.. Am SumatrA Mh
7 Am Sumatm Tcb pf . 0U"1!
.. Am sucar Ref ei
7 Am Sur R f pf :'A
J Am Tel .t Tvl U'.'i
1? Am Tobacco 131
0 Am TobAcce pf new 100S
14 Am Tohaece 1) le;-i
7 Ara Woolen f3
. Am Wrltlnc Papfr pf 1
. . Am 2!no Lead 4 Smelt is
.. Anaconda Copper .. 30',
Ann Arber pf 3sj
4 Afpe Pry Cie'Hls.... 53Vj
6 Atch Tip & Santa 't. 90",
5 Atch Tep ASPpt SG'i
.. Atlanta Rlr ft Atlantic Hi
. Atl Oii.f W 1 8 a 79JJ
. . Atl Gulf i WlSSpf
.. Austin Nicholas 10
Rarnsdale Class B. . . . 70
7 Baldwin l'-cmet've 97 1;
Baltimore & Ohie.... 32t,
4 tlaltl"iere & Ohie pf . . H
:. Kthleh-m Steel .... cm
. Drltleb rm Stee! '-j
.. Jirtt 11m ytei jjet pf. , eni
. l-lt Mm Steel 1.1 nf. .T".
. Britlj:. Itrplil '."ratmil 9H
. . RrUlir. R T ctfs or dep 4
. . ltiinn Hi js . ... .117
. . Hums isn-s 11 .... 3)
.. Butte i"v-;.p?r & Zinc e'.-
Butt,- ,t Suiicrler Cep 37Ji
. Buttrr C't 30
.. rallf.-ir.m Peirelcum 40M
. . Cadde Centra. O & R 11
0 California Packing . C9
J Calumet & Arizona... CO
7 California Petrel pf.
.. Cal Zlr.c & Lend
10 Canadlun Pacific . . ,
. Carscri Hill llir.irgr.
. . Central Leather . . . .
Cerre de Pasco
0 Chandler Moter? .
3 ("hesape.ik-9 & Ohie
. Chi f.- r. Ill (new)
. Chi 3: III (new)
. Chi M'n St P. ...
. Chi iill .V: St V pf..
5 Cr; & V.irt'.uveiitern
. Chi R I & Pac.
88Vj
..134
.. lJi
. 35
seu
. . SG
. W
. . !"
. re'j
04
l'i
Chi R T A IT
7 Ch! li I A. I'ac
Chil? Copper .
. Chine Copper
. Cluctt Peabody
1 Coca-Cela
. Colerado Kul & Iren
H Colerado & Southern.
Celum Oa.s & Wee.'. .
. Celum Graphophene
. Cel Graphophene pf.
4 Cemput Tab KBcerds
Conselldatrd Clear
Continental Can
5 Cem Product)) Ret.
4r0(l 2.50 COBdett .; Ce
e5?
.10 3', 4
"1
! 631-c
. S3
. 71)
10
Cl8
1 UO
r, m
10. s
1H8D I
16.99 1
1C.40
NEW YORK COFFEE MARKET
New Yerk. Jan. 20. Thn local coffee
futures market opened en u falrlj
active trading bisla, call prices beinz
unchanfrcd te an advance of 0 points en
Wall street and commission heuy
buyirjR. Shortly before the local open
ing;. Santes was reported CO te 200 rets
hisher. nnd tnis may have cncjjraged
ceinf of the early support.
The market waj very quiet ar und
neon with prices at Initial levels It
was pointed out that xvhlle Urasil has
recently whewn t-lKna of reakuess, it
failed te encourage any disposition te
force a decline here, ewln? te the pessl-
Kill,, tit IflVlni. nn r. ferrh nntldu V.r
"' - - "."' '? -I' ".-"- V"" ."'
IB6"-'i':1'iM.n(tirjii.,-ir.r,i7jaj-.'3. these wue tueK ever ttie ix-enitir ue-
livened.
Preferred
Stock Rights
Bought Sold Quoted
BATTLES & CO.
EitabUshed 1S90
Indeprnileivr vjimrt lljutl
UK
49 Vr
Utf,
'U
433J
aK
37 ,
5
90
tie'4
31 Kj
0'
l u
OO'i
t4
mi
13.
37
me
B3
4
BH
B9J4
31
i.m;
93',
117 U
134
100
170'V
N7!i
t
W.
1')"
33)4
3V,
H(1
80V
in
39
31
15 V,
30
9.".;;
-.3'
r.cu
9 i
0H:-
9'i
S'
lieu
s
!
3il
30
4C
11
csh
no
8f
isa
13 H
"115
?r.
19 U
jsv;
S3J
ist;
(14
ItKO
1'. M.
Met
Chge.
fi'i -
tt
fci
1!':4-
.10
43-
3l!4
.H1S
.17 -
14C'. -
siJi -
Oti
13 W
-t
40 -
Tir
39 4
37 16u!i
B3 4
BJ4
-30tj-
r.? -
13',
S3 -
h;:
134
ion-
!-
:s -
t:si-
3Sfi-
en -
80 W-2-
'14
39 - Ji
31 ,.
ie -J- 55
-e
rK- HJ '
.S3" Wl
' rSI
'f'ii 14!
0 a ;-
no-
13 r, -
e,:.-
s'-
Hi' ',4
39
ti-
311
4A
11 -
60
S3J4-
134 -
V
!a
114
1
m
"a
V
Va
c I
Ti '
, '
"i
li
Ji
14
'i
t'l
Si I
?
'3
l'-S I
1W
14
l!4
H
niv.
Snlm In I
010
880)
1800
HOD
510
aoe
310
1799
300
3700 ,
73)
300 1
109
SOO
3)0
6499
190
G00
H110
1319
!4
- 1
V.
j 1
y
138-
31 Si
ns -
6V4-
51; i
t!4 V
3-r. -1-
J -
30 . -CI
it:-.;
K
?
H
c, pr 73 !i
T pf 80
17 H-
37
54
3H
37
39
CSJi
Mi
C4
07i-i
37
Consolidated Textiles. 13''j
C30I) 4 Criicib;., Steel
103 : crucible Stei' pf. ... .
1UJ) .. Cuban Am yuear
''''Ji .. Cmi Cunc Ejear....
43)3 .. Cuba Can. S-jenr pf.
36'tu 4 D.ivlsei Chemical ...
100 j Delaware & Hudaeti. .lt''n
10) 0 Dal Lac; U Western. "2 V
Wl 1 Deme Mines 21
100 .. Duluth .Se S & At '-h
20) .. Klk Hern Ceil ,
100 .. Kmenen-Brantlr.c ... EU
3103 is KlearlC S.erane llat,.147H
13J0 0 lind cott-Jehr.soa .... MV.
"0 . Erie b
5800 .. Kr!e 1st Pf 1Vv
P 100 .. Erie 2d pf 8';.
1S00O a Famous P ,iy.rs L . ln.
100 8 Famous Plaj-cra L, pf 05
09) Kreepnrt Txi ... 1
300 a Gen Am Tenlt Car... 54'j
C"30 .. Oeneral Asphalt ....
300 0 General Aephal' pf... 93
J0 s Genera! Klectrlc J"'.
30SO .. General Meters .... i-'s
100 7 Gen Meters deb ',?.. ' t
900 .. Goedrich B F 3'
3400 . Oray Davis 19
100 7 Great Northern pr. . . . "i3
3)9 4 Great North Ore ctfs. 33
109 . . Greene Cananea Cep. . 37
500 . . Ouantaname Sujrar . . bj;
3100 . . Guantar.ame Sugar Rta U
10SOO . . Oulf State Steel 72
330 .. Housten Oil 74',i
300 .. Hupp Motorcar 13
100 7 Illinois Central 180
1C0 .. Indlahema. Ref 3l
COO .. Insplrnt en Cen Cep.. 40J4
1400 .. Interb Cen Cerp 3H
330 .. Interb Cen Cerp pf... 7l,
f5l)9 .-. Internal Afrricul .... 9'
5UU .. Int Aprlcul Cerp pf 3714
400 5 Int Harvester naw.... h3J4
130 .. Int Mer Marine H':
4 6JJ Int Mer Marine pf .. 07 V;
1000 .. Internat Motertruck . 31 &
3010 .. International Nickel.. 1!?4
0)0 .. International Paper .. 50
599) .. Invlnc bio oil Cerp... 1414
3)0 .. Iren Products 3s
30 .. Island Oil 3
400 .. Jenes Bres Tea 75H
330 .. Kansas City Southern 3-Vi
300 .. Knnsae & Gulf Jt
100 8 Kayser 4 Ce 84
fin be - u
r.li 17J.6- a,
-T;-4 '47'... - ' I
61 53!-f 3Ut
4s;-i j--j M ,
37 37 -i U
39 39 !
utt ch - i;j
m - ;-hi
aw 6'-,- M
rs rn'4- 154!
37 37 1-1 1
in i 14 - ;
53i 05;- iu
lOlh 103- 'i
33 33 -
ci eti- Jii
f3 S3 -1
I!) 19 -r ?i-
KM OK- .U
31 '4 33) i- -v. I
07 i 56 l 1
107'i 1077e - -
U3J.J 113 h- W.
?ii4 71 h- y
in ax- .
Ui 13 -5- ,
?U a'.-i- W
lltu UOU 194 1
7S 75J4- ,
tfV, h VJ . . 1
13VJ ViVt- n
s H- 14 1
79 e . . '
05 85 -f ?i I
1" 13 VJ- !4
c4 54 vj .. '
fit,'; 5f'4 - 1'4
03 S3 ..
143 113
H'.-, . J
i-0'i 0'J - ti I
37 37 - V
17 'a IS -r i
:;, 73V4- H
MJi aiji
37 37
!', h'4- J4
la 14 -
6BJ-j C9 - 1
73 7.1-3
13K 13H-
100 100 - Vi
3U 3J4 ..
3H 40 - J4
14 ?- J
He i
3 0 - i
30S re5i- H
S3 83 -f VJ
14Va 14's .
C5VJ CCfi- ?4
30, 30VJ- VJ
l'.'H H -
4s',4 4svj- m
14 14 - li
35 VJ 25 Yt- 1
2H 3H - 14
35K 3K- XA
23! 33 - H
ei e J4- 54
b4 84 -r 111
44)0
1C00
100
3409
3300
300
909
100
590
109
33)
tee
1030
300
100
4300
300
100
103
74)3
000
3300
103
199
109
100
399
100
100
K0O
S30
3S09
4000
390
me
30,1
110
03
5)0
300
110
300
1700
133.1
1309
600
Hlch
Kelly-Rprlnafleld Tire. 37 Vt
Kennecett Copper ... ' 14
. . Keystone Tin 10J4
0 Kreece S 3 110
.. Lackawanna Hteel .. "li
Lake Krle West pf 39
05
m
10
-li
47
104
"114
18 "
: .4
S314
3'H
105i
113',4
37 W
13'i
MJA
J.
3
H'i
35!4
11 14
45
lSli
1800 8.30 Leh'irh Vallev
..7. Limn Locomotive ....
. . Leewo Ce
1 Left Candy
... Maclntyre 1' Mines..
.. Manatl Suuar
70 Manhat Shirt
.. Mnrlln Oil
. . Mnrket St Rwy pf . . .
. . Market St Rwy pr pf .
.. Martin Parry
. . Math Alkali
May Dept Stores
18 Mexican Petroleum . .
-- mi vtvuvut'
6390 1.80 Middle States Cerp...
Mldvale steel
. . Me Kansas & Texas..
. . Me Kan & Tex pf..
. . Me Kan A Tex (wl)..
. . Ma Knn & T pf (wl)..
. Missouri Pac fta
. . Me raclflc pf
. . Montgomery Werd . . .
. . Mutllns Bedy
0 Nat i:nnm & at
7 Nat llnnm & Stamp pf 87
0 National Lend 8' !i
.. Nev Cen Copper 'l
0 New Yerk Central.... 7s
0 N Y Chi & St L 2d pf O-'l
. . New Yerk n h ,v M.. h
3 New Yerlc Ont & W.. 3tl
7 Norfolk & Western.. 99
4 Norfolk Ss Western pf 75
3 North American ctfu. 5
3 N American pf 4llt
. North Am Clans A Rts. 7V0
7 Northern Puclfle .... "
.. Neva Bcetla S & C... 3414
2 Nunally Ce 10
. . Ontario Silver Mining. !4
.. Okla Pred X itef 21
Orphe"m C'rcult 13".
Lew
37
28K
"li
11514
47
Sft
AH
4
13JJ
.
'4
(5
40M
53H
18 li
3
31
24
103
110M
37
13
3.01,
94
3
814
34
10V4
45
134
33
30
H7
W
8
73 Vs
03 .
14
31 14
09
73
.v;
"14
7
77
2514
10
14
2'
f
l-.se
P. M.
Net
Chs.
X
14'
H
M
J4
'h
l
1!4
14
14
14
H
14
1
IK
lb
"
14
37 -
iey4-
lltt 4
47 -
3ft
H-
94 -
J2VJ-
10 4-
3!i '
ir, -
40J14-
v.1H
18 " -5-i8!J4
M)4
SM -KB
-UOX-37
-
lU
:e4-
M-
3
23;t 56
iVb- 94
13
13 . .
35 - W
3C?i-i W
ft7
8r54-
n-;-
"35 -
03 r
99 -75,
-V
5S?
ai;-f
7
77
?5J4
10 4-
SV4-
13", -'r
LOCAL MOVEMENT
WAS UNCERTAIN
Realizing In Sterage Battery.
Philadelphia Electric Issues
Had Streng 'Support
fl Otle Rlowter 1H -U l"- x I 2411 and the preferred appeared te have
.Otis Steel il, I 'i ,JW- . found n felld bottom tit ITT'.- Thr
I SW15H 1A?.tt"nc ?5iV :U iV4 1i"rllibi when iesued" n fnlrlv brecii
?, paL011 ,;:; iU 5n Je- l I market nt lj. In view of thn easlei
P.in-Amer Ptrel .... Si CO? e?4- . I .. .,.,.. ji,i ... i.ii,
0 Pnn-Am Pet Class E. 4C
. . PurlHh a BlnRbain... lsi-
a P'iiri.vlvan a R It.... 3?4
. . Penn Seaboard Steel.. 9
8 PepIea Gas Chteace. 19
. . Peoria : IJastcrn . .
. . Ptre Marquetl
3 Prre Marquette pf...
:i Philadelphia Ce ....
3 Phillips ret
. . Plerce-Arrew Moter .
. . Plerce-Arrew Met pf
.. Plerce Oil
a PtttH Ceal
100 1.8O Pend Creek Cenl....
190 .. Pressed Steel Car...
3 JO .. Producers Rentiers...
030 4 Pub Service of N J.
3)1 8 Pullman
3700 . . Punta Aleirre Sucar. .
130) a pure Oil
loe Pure Oil 8 pf
'0 a Railway steel Sprln;
"0 t.35 n. (i M ,lf.n
-l1 . . Ray C-.n Copper
08 13 Readlnrr
s,3 . Rcmlnittn.i Tyyewr.:j;
1430 . . RpuleirM Mt.inl
lltj
301,
53 14
33
39 M,
1I34
JO
, OS
394
c:H
77 Vj
li?',4
. 39
M'i
ICO
: urt
ui
15 ja
. 7' '
3c;;
ii
1100 Reeubllc Iren i Steel 54 'i
1400 5.20 Royal Hutch N Y 0
. . St Leu s San Fran ... 1 i
.. St Ixiula San Fran pf 37"
.. St Leuis S W It R.. 21 J
. . St Leuln Southwest pf 34
.. Savage Arms 17
. . Saxen Moter '-'5b
. . Seaboard Air Line pf . 5
.. Sears-Roebuck (31,J
.. Seneca Cep Cerp.... 17VJ
. 7 1 Shell Transport 37 14
.. Sinclair OH U'li
.. Fle-3-Sheffleld
.. Se Perte Rice Sucar. . .30V".
c Southern Pacific .... Mvi
. . .-'eutheni Rail I j
.. Su'itheru Ril pf.... 4.'i:,s
8 13t.i .fliird API HO--,
4 Stur.dard O.l of Cal.. HSi
.-, .St..:id-ird Ol. e.' N J.. 17H
7 Stand Oil of N .1 pflM;,)
7 fe'leel Tube pf 77
3 Stewart Warner bpttd '-.0''i
.. Streu.bcrgr Carb 4e:-j
7 StuJbaker 01U
.. Submar'ne Beut Cerp 1'4
. . Suprier Oil Cerp. . .
. . Temler Cem &. V "A"
. . Tenn Cep : Chem. . .
.1 Texas Ce
. Texas & Pacific
1 Texas & Pac C & O. .
C.C0 Tex Gulf Sul
. . Third Ave
6 Tobaceo Products ...
.. 'i'rnntcen Oil
.. lTii3e:i Oil
10 17nlen PaCtlc
.. United Alley Stael..
h United Fruit
. . United Rwy Invest t
C United Retail Stores.
. . U S C I P & Kdy...
SUSCII'4 Fdy pf .
..Us Feed Products..
..US Ind Alcohol....
..US Realty & Imp. . .
.. U 6 Rubber
HUH itubber 1st pf..
C U S Steel
7 U S Hteel pf
3 Utah Copper
.. Vanadium Cerp .....
. Vn-.Car Chemical ....
0 Va Iren Ceal & Colte.
. . Wabaeh
Wabah pf A
. . Western Maryland . . .
r, Western I'aclfte pf. . .
; W.-icrn Union Tel...
4 W etlnfthouie E A It
130
me
100
33U
530
330
330
700
109
309
4.IU0
310
3J0
3010
- 193
5):i
53
31 JO
1190
(3)0
100
403
hOO
31030
530
700
300
030
11C03
1C0J0
3330
1300
0j0
1330
4100
1330
1409
.431)
439
530
5530
153U
330
5.700
1100
300
300U
100
51100
300
1400
7S0II
u 0
100
133
3)0
300
100
310
5J0
300
330
bJt)
SOO
7M
3D0
5)0
700
800
3y?
104
. 4J4
. 28J4
. 21S
. 41'm
. 11 u
. t34,
. lll'i
. 1
.124
. 20 h
.IVOi-i
: 2.'i?i
. 54K
. 10 a
: 09
. s-
. 4.'!
.
. t-S
. 101 !'
. SOVj
.117
. 04
. '
se
'14
IBS
r.-A.,
ni.'j
.. Wliwllnir & L H tifi
White Moter 10j
. . Whitu oil Cerp ) 1J
.. Wick Spenc isteM Ccrp 15',i
,.. Vriys-Overland ajj
. . Wilsen & Ce 33
8 Woolworth F W 143
4 Worthlngten Iump... X
US Wright Aero 7)2
40
1314
34 yt
SJ1
3j
11 w
30
5V,H
33
35i
1W
CI
OH
S3'ri
tH
C3Ji
37
17',
11-V4
li
19(1
en
lfj-i
":
ae
.Oil
-SK
5:i
HJ
31',A
34
IC
;
5'
illi
17;i
3J
19
40
ray,
t-t
110'..
2'4
:7;3
115
77
2915
39
tS
sis
r,-A
aii
10
4 .
2714
3?4
41
1
ITU
i
177',,
.ci;
l'.S
--14
19
5
CT4
43
HJJ
.14
101 '4
(.514
IlUj
C3J4
3i
39V5
SO
til
f '-.
f-3
01 ;;
?.
8'a
15
ti
Mli
143H
4C
i.u; .
3'H f
T.i
ve -5314-
3-t
3U-
1356
a4 -ax-si
H-
14v
li-;;
31 Va
its
tee -
9(1 -
ir. :
Li
'314-
."0 :
O'.j-
:e;; -n-,-
17
31 13
.:i
It!
vli-
3
eivj-:-
7yj
37 19J4-
40 -
:e;j -
111
t.S4-
1S -
lit:-. -
J 75
113
77 -
sb-:-
40 x
.'S?i -
!:
3;j
3Vi .
le'i-
44 -
2'li-i-2-!4-
41 -
I6V4
h -
19 -
13"
20VJ-
r:s -31
U .
144V
U13
59 -7J4-13
5K
.14 -
KKV4-e.lhl-
117
iO -
Mi .
I91J
"?5-f
33 VJ .
i;j-
0?i-
e?s ;
MX -
hj.j-
13 .
3!4
.11'4-
1 1 '. I i
Price movement in the leel ina-kct
was unccrtnlu and mixed. There waf.
however, little activity except In I'lill I'lill
e.delphle Mleetric Uitiea pnil IJlectrlc
SteraRe Tlettery. The dee'imtH in the
lant named fell off enneidentriv a com
pared with the recent fcsMens. and there
appeared quittf Fome profit taklnt,
whlcli wns I0.be expected In vlev of the
recent sharp advance in that nprelelty.
Thee b.'iIch for the (line lielnc nt least
were in excen te the demand with II10
resultant reaction In the stock te 140',
cempa ed with the ten urlee ciadevcs-
Uerday at 1-1.1.
The Htrect m Rcnernl Is ns wticli In
the dark concerning the real motive
behind then remarkable movement as It
was when It darted. Ilur.inrw ner:dK
" ,, I the company hus In mind a capital re
, I adiustment but these in close teuele
ij with the mnnngement lnsiht no mk-ii
plant are contemplated in the Immediate
future. There hue been erroneous
KtatemcnN made eenccnilti;: the hlsh
n-eenl price of the stock. It Keld at
lfi.1 in lniD, hut during the curly ex
ploiting of the company by prominent
local and fihenels.1 lntercHtt in 1SIIII
1DD0. it sold nt 104. At that time it
paid no dividends and its future waH
very uncertain.
Healings in the Philadelphia Electric
Imucs continued felrly active without
mneli -linncrA In rttri TI.a r-mnmnn
i wan apparently strongly supported et
e
e
1
ler
money market condition It Is be'Ieved
' the new bluck of jpi.OOO.WKl preferred
Hleck will im taken by the !uel:hnlde.r.
There itt m-t much te be uid cei-
1
THE PENN MUTUAL
LIFE INSURANCE CO.
OF PHILADELPHIA
Heme Office, Independence Square
1
the
, Philadelphia, January 26, 1922.
Pursuant te the requirements of 1 Charier, this Company publish
following statement, beiiiy the principal features et its btVKNTY.
FOURTH ANNUAL REPORT te Policy-helders:
FOR THE YEAR 1921
RECEIPTS
Fer Premiums and Annuities . $37.703,496 24,'
Fer Interest, adjustment of values, etc ' 13,143,934 65
Total
4
DISBURSEMENTS
Death Claims
Matured Endowments, Annuities, etc.......
Surrender Values
Premium 'Abatements, etc
Accumulations paid under deferred distribution policies...
1 1
050,847,430 EJ
$9,483,644 73
4,675,020 92.
5,155,220 79
5,516,296 01
1,84(3,872 52-
Total Paid Policy-helderu
!
.526.679.05S 00
Instalment payments under supplementary contracts, etc..
Federal and State taxes, licenses and department fees
Rent and real estate taxes and expenses
Commissions, medical fees and afrency expenses
Salaries and administrative expenses
Advertising, printing and supplies, postage, etc....
Added te reserves ,
1 etul ....................
$919,624 93
00,543 20
515,927 22
4,806,965 63
1,010,521 00
217,357 50
15,872,434 36
$50,847,430 83 '
ASSETS
4 i SStftSSlS rlSi,H'!MBS'Ft. Second. Third Fourth and Fifth Liberty Leans.......
points te ":i. but this is the u'luu ex- Mate, .Municipal, KUiireati nnu e-.ncr 1 i; jus-j.diicc uuuuins
lie'rience In tlieee lssiies becnu-e of thcjrjentis Stocks ' aier.crs' valuation.
inability of tome holder' te take nu- 1 ' , ,
IU
Ji
U
vantage ei the p:lvllcce.
Philadelphia Stocks
Lew
1:15
I". M.
M7!,
S."A
12
!i
"A
1
1
4
i
a
1
U
!3
li
Va
'4
S
Rich
.100 A1H Pack ,
etH .... '7
WAlllH-Chnl 'X--
10 Am HteieH RT,h,
111) de 1st pf.11.1 1
100 Am ShJtt' 8i
'M Am liiis.. ."U-.
411 Iluiik N A
v;at- w i. ."(1
"itlli'ld l.ei-. nTv4
T. ('-in Tr NM 44
UO'.C.irul'r.-d.lO'i H'C'j 10'J' -
"OtDuv'n Ch 'W, sa4 r.i;-;,
571 i.'hv Ster.l42W l-JO',4 1-H
lOOIl'um Play .SO '$ K04 M
I'O (leti Asrli. fi7 .")7 57
iTOffi.'nt MtrH S S"m Hh
aeOUlulfSStl 70'ft 70 70Ut-r.
Ntt
ctlBO.
MertKAties and Ground Rents (first liens;
Leans en Policies and Premium Notes within Reserve Values
Ler.ns 031 Bends, Stocks, etc
Heme Office and ether Real, Estate
Cash en Deposit and in Company's Office
Interest and Rents Due and Accrued, etc
Net Deferred and Unreported Premiums ;
V.
'A
Total, Dec. 31, 1921
K.V...
nr, -1-1
J LIABILITIES
1,71. j.' .1 I Uesi-rve3 te Mature Policy Contracts
j 1 --
11 1 Pr, t.-v Claims 111 r.-ecess 01 scv.utncnt
Premiums Paid in Auvanca, Uncaincd Interest; etc
Dividends left with the Company te acc:i::iu!ate at interest,
iubject te the order of the owners 01 the policies
Accumulations upon Deferred Distribution Policies
Reserve for Mortality Fluctuation
$25,219,478 70 :
00,502.237 30 li
496.274 00
89,193,596 72 !
43,583,052 96
1,285,672 79 '
2,041,111 83C
2,460.023 12
3,589.180 61 !
5,609,914 80
, .$233,9B5,547 83
nilTIIlt .MCKCl I-V4
llM)Tleniset:ep 'M'h
2S,
rtlll' M
iajt m
ii.Mx ret. in" niy. jnvi in
I
12-Ji 'li Reserve for Asset Fluctuation and ether contingencies.
it.m-k ret. in1, iiiyi iiiyi-
nmiMidvaie. . an :ie :wA-
lOOtl'ae Oil.. 451-4
JO Prima iVu
Light pf. 40',i
ail) lvH. It 11 .'!4',i
L'OOilVnuabd
.-'leel ... S"..'i
:V iVntm S.H 70V.
;::7(H.i:ii v. .-
.VI.- w I 11s-
:.t;7 Phil:; Kiei- 2.1 i
02 .!" p.-f-T ... 27Tf,
L'OOtSfuii'-hakr l0.
lOOtTex & P- L'.7-''ii
Ml Teue Mln. l'-j
20 di True. :-..
1.1 UO I . . . . :is-,
2."i de pref.. C1U
100 W Crump
& enn. 40
j;;vt -l.Ti
Premium Abatements for 1922
Total, Dec. 31, 1921
$205,?3r, 708 42
773.575 8S
2,eN3 5 36
5,040.266 60
0,559,202 '62
5,251.960 00
2,839,948 95
7,100,000 00
..$233,935,547 83
401'.
"'- -
1 :
27i,L
f.'t) 27 -s
W,
m
51U
40
40 V-..
StVi..
S''i
7)'. --
J'-.'....
j:t
HO -j-1
27'M-r
:;n
I 'alvi:ig the Company'-? Securities en the Amortized BaiK a-itherized
j by the Laws of Pennsylvania,' New Yuri: and ether States, the Ucscrui
fur Mortality and Asic. rluctu.itiens. etc.. $8,091,008.95. wrull have
'anietm'cd te SI 4 AC5 ,4'5.S I . and would have added lu the a;,ets $5,97.1.iS6.8(i;?
' BUSINESS OF THE COMPANY DURING 1921
1 New Business paid for in 1921,31,876 Policies, insuring.. .. $136,509.5 00
. .-.. r T....t ii imi '-jit,,
J.e.3.1 lilt.ur;iiii:i: 111 iuac, iviv-:iiiuti 01, i.i, jju,ij ;i
I'eltcics, insuring l,UV(),757,:09 00
Hi')' v i Tetil I'amcnts te Policy-holders since Organization in 1847 $347,049,935 9J
40 2
' 1
'A
l-a
U
1
1
IK.
B
tl.'et chenst tnnin by convarlnen v.ltli lat
1,4.1a en Ntw Vurlt Btftclc UxcIilusa. '
rnir.Mini.ntiA r.0M.s
I 20000 Liberty 2d -IMh '42 llil.HS
LfKK) Ubert ..il -IfHrt '2S lets 117. TA
.'tOOO Lllierty .'Id -IVli '2S 117. fill
MO I.llerty 4th 4ts 'HS.. . H7.IK)
I.'IKIO l,ibert ltu 4'h '.'t.S..let.-, Pti.fiS
.10. m Victory -lllrt '2., lets. 100. 24
700 Vieterv 4"4s '2:'. 100.10
7O0O Vletery 4rls '211 letH.1O0.20
'je victory -in 2;; letx.iixi.iL'
r.ieHAr.u s. urucj:
HAMt'KI. II. ITINSON
JAMi:.l WUTTK1UVOIITK
rilAlll.KS 1'. HARNEY
C H. V. "ACKAItD
j. :;:iv,ni) m'uiiav
Mi'-lH.S 1.. Clul'HIlSH
J . ilAN'CHOI-T
..iT3:u a. i!.vii..:'jt
Trustees
WI1AIAM M. COAT133
JOHN- S. JKNICH, Jr.
j. iiewf.j.Ij 'a'MjriNc.i
JAMKd CHOSI1V IlllOWN
s. r::MiiKiiTeN mtn-Ht:
u. dawhen cei.uma:;
1.. wai.tl::! ci.ah;;
3 TnvAitt) r ln'Nt-u
IIOV A1.I V i-IIUKIN
w. ir::rwAnD mtet.s
SlOltTIMEr. I!, Mti.utn
"II.UAM V. NI'IVH'L
V. W. ATTKUn..-:iT
U'jJ? oiceutii; :m'alhi...'
C'l.IXTON T. .Mti if-i.1
AI.HKIIT A. JAl t r X
VtL,) tAM A '-A
MENJAMIN III hU
U
J
ri
Va
re
Vi
?i
1000 Baldwin Loce Is' fls..
1O00 LehJKh Viil ey fte
1000 1,1-hlsh Valley i
100 Phtln Klretrlc lxt fin. .
luOOPhlla nieetrle 1st ."Is..
I'OO Phlla lOlectric 1st fin..
1000 Phila Hlectrle fin
fiOOO Welsbnch rs
100
100 "s
100 V6
n.v,;
111!
e.-.Vj
101 TB
OS
DIVIDENDS DECLARED
nmtirnern and Ohie, aeml-nr.nual 3! per cent
tn ?reri.-rl, pnnlIe March 1 te ntrek et
rfce-il FnhrUiirs- H.
feii'.iunt4l I'aie-r r id n.'.t MUH, quar
rr,y ut 1'. ir crnt u beili minn.en unJ
prnfi-rr' '. -.livable 1'cLruary 15 te rte.l: et
hnull.irn I'll" I.lr.e, qunru- of JJ pay-
f uvt ;Mtll l i.- m.rit ui rcnra nruar- r,
' l'nlii-4 1'ewf.- nnl Transp'ir'.atlen Cem.
la'.niiy. .11 !). hi rable Jnnuury Rl te t'e. '.
IJ-hnlilfrn (' rcenl Januaiy 17.
ll.,en en L-emriny. quarieru u rir ci-r.t
rr.jable January SO te txez'.i et recerJ Jnn
uary -4.
ICrynteni- VTuteh Cat Ompar.r, JU4rtrl
l'i t"r cent, pavable retiruary 1 te otocli etocli otecli
otcers c rcern January Ji).
.GEORGE K. JOHNSON, President .
The foregoing exhibit shows the strength and Stability
of this institution, guaranteeing complete'pretectiori for any,
relationship in which death would otherwise nican less te
survivors. ' Its policies cover every life insurance, need as
well as life incomes for old age and replacement of estate;
values impaired by taxation.
H
!il
'4
S-i
"51 ?.;
H4-
Vt
MtiiiiJiiJJjxjjjLaaj-aj-ij.j'j.' 'rir
BOND SECURED NOTES
Publ'c Utility Company
Established 1904.
JIaturities from 1923 te 1927.
Earnings 2.10 times interest
charges en all bends and
notes eut3t.-indinj;.
Average yield 8rl
Special circular en rcqutst.
Fairman & Company
Drexel Hui'dinR. Phila.
j KatublMirrf Wl
;A. H. Bickmore & Ce.
111 Ureudwpy, N'ew Yerk
itar-h
Ju v
t-'
Tet. close
. . h S3 2 31
Orn
S 41 3t
H 3!1
S J4
H lOq'Sl
LIVESTOCK QUOTATIONS
Chleo. Jan I" ATTLK lUcelpta.
1S.0AV h-al B 't .' meitly ateucj
lf HuU llltr.'e' 7.ri5 . iin-i
CARRIERS ASK FEDERAL I foreign exchange
AID IN NEW FINANCINGI
Slump In Canada's Fur Industry
f I off K
tier -r.t flurlni the year ldiO-'Jl.
aecer!lr.B te ropertu mafle publU by thi
isureiiii nt H'ailnlcn tertiiy. Pars aliid ut
10 t;s 671 v;tre taHen aurinc (lie lari yar
irl.i,, (he rrfvleu.i annual -. IfM vtna S21 3R7,.
00.1. T3.e Kltn at fur bearing aiilmxln tiuu-
ket f,n.v.P,i nHii.r ru .i".7'.r " .. ? 'iv v - - ue- :-. n","1..rr ' W
.. . .: - r -'-- ..-..a .,.iit-u ,i.i- err.-, t-livcr iex nnn -ne ,nuii vum i- a ivir
ethers wi.ii
SL--4mtrf- 6 Ji. S .J'i'J le-!! BteCKrs en. ;tnrri '""' " I Meney tO UC UBCU in hCpay inn 1 -- " iii'i iiiiip", in-itfUlin KUI urn JO ivnratfiu i..i. inwiuiiiiiin.iiinu.
Elfi " ilenuvs vt-al calve, aid bul,a neak U lower " a Ji pelntb, eeminml with Seh!er,lRv'H ! '
. u. . lwfti;r..el..Jh."r, fop;je"on' UMm....r ,yn. ,., UullJ.rii wre e 0 pner.ji Changes In Lflh. Nav. OrflaiilMt.en
C RAILROAD EARNINGS ice te 180 "l'jblc i7' WurfiliiBten. .Tan. 20 The Bnstei mar'.H etf I'.u pelntn. S-.rhu -.an an, u ,.., ,r.ti j of tn. U.. -1 ..r ...ae.r rr
6 -h Y..IIK- CVTvfl) " WU&TKRN i-P'V s' T J..lrablc. .7S an( Injnc Unjrend applied t,. the es'-er.ti-ill. ltalnlnC a point, vl.I'n Dan- ! of t!. 1 e'.ml. tM r.n.l Ka-'e.v.e .- r
..k iik. cn-AM ..i ttuiBM. Og; eJ; , dp ebiw-interstate Cemmcice ; Commlleu teduv lab , unchaased. pw 'i"rB '. 1S!Ii,l"tliS5Ef, "ir "ctiv5-,ieJi
IS p .Mrr ri Mini Au"u abeit.W, Kat 75" "tj f li, u . f()r ,enn fpem tj,e (JeTernmeat of Q-ioUtlenn were: JSTry l' ' Jya"iR,eilZ, 1
S Net upir inc..m 3!i ejl ai.anj ehlpiri. Iij. c..ic imut :at w ci 1, -q, oe0 te rUM for tMrteeti yearn. I HterlitiK cables 4.229. .le-niinil iirwiident te tu-jm i.Moelatel with '.-lien
7 TVrelv.. month.' re 14.lJT.brtT nj3.17w butcners. J7.60. la rnenev will be uhed te nay off It .wV. franc cableH 8 in T eh..el, R IK 'ftl0 Ce- u Nrw YerU! ,l'nry riM
N'et eper Income. 1.SK7.071 161.000 ,. . .. ,,, ,., ,leUs lUcelsU, I lne m?",,f ",.. .i." vl tL ",. I ii', T ' Ji - i, -.M,i cnv.r''1 e.lt i htrtoter a.f.etaiv ur.d trennur.r. wh.
Del.raj4 , 11ltberh. Jar. . uean - ij 'cei aij uerc of UUe amount due te the Gov Ue'glnn cabled 7.81!, checks 7.81; lire ltea t preiWent anJ iwrttury. O. K.
e sboe .? '-0 w.r,' .jV5 uaf i,?ht yorsteril ernment from the railroad In May, cables 4.-10, checks 4.31)14 : wwta cables ""., h"l?.1',r: ""'t treaurer. v.-e.
fll9Clci urpnuipr. i
Reserve Banks' Discount Rates i nd
Onii-lat rediscount ralea at the twli Fe1.
eral lleierv llin. ar- t 'el e a
Trem, Mb Cem I Jlkrx.
CUB
p!
aitEi3i
iiiiiiiiinmnn,.
eai.ciarftcea
UAMUiltti
!,
I Dealers in
i Investment Securities
!...
) miidhiii ..aw i v.. una t niraufipnta
atevlt EfvnaHvet
j321 Chestnut St., Philadelphia
ntei
Nw Yerlc
Philadelphia, ..
i -vxUr.d ...
t!-hmnd ....
Ai.anth
rncaun . ..
l rn. P"IIii
Ka' pub iv
Vi' ai
ban Frarnate
tHinda i-aixr ac-nt.
4.1
4t.
a
41.
3
hi e nn T.-.
AM 1.AJ1DB Racelpta,
h.iLil Mteadi Tep aheeu. 4S.DU. i
CAUVbI Ke.-'u'i. 130 head.
Tep, J13.B0,
10DO
op lamb.
BUady.
Raw Sugar Market Steady
Nw Yerk. Jan. 18 Th raw cjiur mar
t rentluai rtdx wlih Cubrn. for Januarv
1 men quoted at S!ll enta, cf and
freUht. and for S'jtirua-y nhlpment at 21 .0
l-3J rnt re't and frlrht 1'cr e Itle -n
W 1 Kt Duffnle. N. V.. Jan. 2fl. CATT1.I4
n-e.nta. 13:3 1ad Blew easv . Uali.
ieeJl"ji lf.f. 'T.4.'1.- B.V.V- tir- ,..v ' !.li.htMini.a held by bankH
Heav. I8 75'i5 ni.vd. 9B.7B: raxVim. Anether finance application te the
10 75. luht .LV""" ." "VaiS 7nJU'lcommlilen tedav from Hie Illinois Cen-"T-V!Jrt.U5
I .??," Stll'ir... ja ha.i. Urni Ttiillmiid aVeil annreval of a eon-
wui.r..i- a.1. i..i...n ..... ........--- - ..
Cteudy. unchj- riSd
with the
Bank of Enaland Statement it will ueiulre (I'O new refrliteratei
tsinien. Jan 2fl The weekly atatanutnt rurii at a eeii w u.hmw, imjii.'.-iu
of ihn Haul of Knif i.nd iihena (he fnllJwIiM , i0 u, completed ill ten jears.
. . . .... ... . , . . I.nr.ni.il FT. 'IT Ih 111
e aici iuiki j. .1 ..."' -: -' -,
rin 1 -iilen V-.-reaif-d lain. 000 duiu n in
1022. . ' 15.01, checlm 14.1)1) ; HwUa cables 11) -111.
Tlie Atlanta. Illrreinicliam ami At-VheekH 151.43; Danish cables 10.05,
lanUc Railroad nlce nnited a Oevern- checks 20; Norway cabler. 15.72, checka
ment lean of .f015,000, offering Qeveru- 1 15.07; Swwllsh eablen 25, cbeclib 24.D5
ment reeeiver'-! ccrtlncnteh bh Becurit. Kul der rabies S0.C0, checkn S0.C1;
The application nald the raoney would imarke .COVi.
be u te pay off existing short-term . Ontra) Kurepean exchangeH were :
1 tract which the reni! pronesen te rnnke Hungnrliiu .14.
l'ullman l einimny ny nt.u-.. The pretniui
P0IM1 .0305; Rumanian .75: Ilulcar
ian .75; Hciblan 1..12; (V.eeiio-SIevn'.-
I inn 1.1133; .luge-Niaviuu ,3i.l; (ireik
1.1)31; i-nmiHii i.bv; AUBtrlau .02Trt ;
$500 HIDDEN IN CIGAR
fifi fiiift nhr .Ie -vrf.it lncreuK fl 104.-
n,iA ..1.1l 4..r.alla .U.fakVd f ff) flflft
uuu. vii.Miw yvM ";". 7.." , :..'" vuht pars
"!." ""Jr, 'n;,q.,",?.'ilroeo,N'V eemlllia;. tetairt Bl).l Sf.8 en Jm.W 15.
IIITJIlk rr--Ml - ! r--- ... . 1.....I...
preiMirtlnn of the bank's ren-rve te llabllll
Fewer Idle Freight Cars
Krlrht eara Id.e a-, a reeult of bu'lnem
...i.i.ilnn of 33.373 cars, eninimred wllh the
iHil.013 reported Idl- for Iho prevlnuH we., li.
I.W wr-k l IH SS p'r cant Hint wok It in- Vfiur,tSii wi Iji aeVeidlnV n 7h. f-.V
,- . .wi. nn) Th rtli.i.riint rnt in II n r TOD rdUeltOII Win tut' aCfUiqinK IO tnfl ar
1, . ir cent Th dli-eeuiit rata imp r A4r,,f Dwllen of u., Anmrlraii Italiway
MUNICIPAL BONDiJ
ivtci niwn e
-. niiuuiiiM y0
,.V, W. MILLS & CO,
vBieck-t Ef hania llldr.; rhlludel
rtilladetpbt
nte , e'ed i.: a. in canta te m; ei-ntn c. I f
idditlin ie h ea rpcrted y-l-ir 1 -'.
me NstU-ul Hucar luninl' CerniMnv bur.
,,,.1 ftO'i'j t t 1'i-rte P.r f'.r ,ir-'nip'
anlpment ai 3 7ft centa I f Arr-a a e'
.-. . M.-cita Ina udf d 'Jl CiO i I an .utia t,
.) w.iiir Bu ir lUtlnln f. iim.iy; e )00 I CTn" , Aaioclatlen, te Inere t1 dm.-iand for a, I
b i "i i! J-cOVhI Humr Iteilnln l-i.pepv, i claia a of frelebt tara, reauluiiit freni tranie
... - i'i.i U:y ta the Air?rr4n -ltirtir lie-) i i...hamI OAiinn i t..r.v,.mhnf.
'n j i ir. in T'l bun' ii-ii'1 mtrls-t i.ivi(i . f-emparlrnns ahened that of the total
i-i ii ' i'l. ai' iiiln i nuiifjit it : H I.lTrrnnal. -'"n 28 -Spot cotton waa inlet I.nu,i82 wem aurplm ara which eulcl be
, i. . ' -. 3' ier I..M" f ii i aiih the N.iti n.tl tndav with ml-6' eaule.- nn thv binla nf iv I purd In immediate arnlce If traffli- innd'.
, i,,, n i .1 . I.lnjr Miiiidiaivr f.r .ltu el 13 r-e nt for relddlln at 0 721 I Unnj made It r.acaiaury Th- ramalndi-r of
- - Tu al we -roeo balea The leeelpla Ba.310 were Idle freliht cara In need nf
p u n,., q,,i,.. wre 4O0f. Uilm Ine udl.c 100 balea Amerl- r,pr,, ever and abevu tha number normally
French Bank Statement rn Futures Lately were etefidy In the rajard'd an in bad oriler.
l'u.1.. J 4-- wertir tt.
l: jl J r .lire uneiva tun leniiwini. ',-. -"l.,Y,, , yr.i n.i.t.ni.. a 1a. i... '"' --." -. .- ZZVlz: -.n.T.-JI
.!!.! In h..ft,l InrAk.il llOfllMI 'Ull iii.,ui.. w ... ....- w, j...-..
New Yerk Pollce Captain Charged
With Acceptlnrj It
New Yerk, Jan. 20. A trick clear,
In which 500 In currency nextled '
where "pure Havana fll'er" ntiRht te '
have been, figured yesterday la chargfu '
Ilnilei before Depuyt Coimnlsslenei
premium en ew erk fiindn In Jean A. i.enen in nroeKiyn. it va- I
Montreal tixla.v vh 5 ner cent. The n'leRed thul en Auuu'.t 12, 1020. Cap. '
dlHceuiit en t'anadlan fiimhi In New tain Hiii'ey unlawfully accepted the
Yerk was-4 25-H2 per cent. money und failed tn take proper police
yriTEHDVVH i-nN-Ai. quotatiems If'1,0" nznlnst hlniHe'f. A (!rand Jury
,..srL.mMV fiai. quotations indJctmeiit en the baiu chnrgfl rccentl) '
Htrninu rnc I.Ira Oullrieia ... ,luitilKiinl I
Demand .... 4.!:"i 8 17Vi 4 1) 9fl ai 'VJJJ ?,al , ',!: . !
cablet . .. 4 '.-ss fi-is sti ae.ui AMlMem Pike, representative ei the,
TODAi"B dflSNiNU QUOTATle.va i Fur Manufacturcru' Anoeiatlen, testi
Slerllna Vranca Ur. Uulldjrn ueu te BlVinR tue eignr te n man In the i
iieinna --'wt ni'
UkDilu .t d iu
hanl Inerennd 110 oeo
llr.nl;
i nu tlelil in
nn' - fi.ver in iianj uicrrjawtj ihi.uiiu.
leu in ilrculutien deer na d :i.i;.ftl,O0O,
rrniury ilepealta Uecrenaed 13.333,000, M.
aral dapealta decraaaed 70.063,000, bills dta
rAimtMi rifKireaa A (14.074.000. advmneea de.
raaaed 4.333 0i Th Hle.te repaid 330,-
nuy odd ' p uca te in
n mr.t
banks.
-,iu mlt
mlddllnc, SJMl
ordinal .73!d.
Keed ordinary. 7 47d and
l" i H aurplua eeal ciu-a numhertd 103,3184, u
BAR 8ILVER
Unr allver wr-s unehaiirad la lienden tuds?
at 2M I
reduction of 2t 100 wlthlu the aani porled.
Surplii" coke cara drcreawid 3!a. te a letn
of 48333 and aurplu ateek cara fell E24l),
brlnstnir the total te 3!l.e2D. On January &
there were 133,810 eara In ne
the aai
repsr
Sft4 SHf.i'noMce htntlen pointed nut te him ..u
'" r'"."the ceptnin." He nald he did net I
i unew at tne time that there was a r-dl
lYlUINtY-UfcrvUIIMU KA.TE9 lef bll'H 1-1 the clear, f'n) A It- ll
NK1V VOIIK Meney en call, both cl.aae ' declared he novel- r-nw PlKn before lil'i.
appearance tn court. Cominlsidener
of collateral, opened today at 4'i pur ce.,t
for brdinc und renu-.rlm;.
I'HII-DCT.VIA-Call. r, per cent. time.
1 i ' per cent, commercial caper, three
te alx menthabW 3 pr cent.
BANK CLEARINQ3
ITank clearlnsa today compared with cer.
leipeudlna- day lait two yeara.
Of reritr. 'lf.lln
the aims number as shown In rraterday'n Floqten
K. Yerl.
I'l ln-Jl Inn.
,64.f6(l,000 ffln,30H,087 IT7.08H.880
48.000,000 40.7tia,(1.1t 82 HJ8 Ott?
fll7 100.000 000,7091,2 740 103 018
I.eecii reserved deelKleu.
MISS MORRIS TO EXHIBIT
M!ni Catherine Wharten Mnrrli
dotiKhter of Harrison Merris, will ex
hibit 'nereral of her londwape paintlns
today at the McClecs Gallerlen, 1C07
Wa'nut street. The exhibition will
remain open te the public until Satur
day, February 11.
am rmeinie
Txtawrj Buildini, ffa-iWarfcw
NEW ISSUES
United States Treasury
SftucctHOO
Three Year Notes
434
Dated February i, 1922 Due March 15, 1925
leMejBBMaaMMkfaaaaeaaat
WE INVITE SUBSCRIPHONS
SUBJECT TO ALLOTMENT
Price 100 and accrued interest
COMMERCIAL
TRUST COMPANY
Member federal Reserve System
City Hall Square
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V
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