'"Vltam ,' is WK X. EVENING PUBLIC 'LEDGERr-iPHILABELPHlA, SATURDAY; " JXN.UARY ' 2& 1922' 18 k . I'W r WANTED MEN The eampnnjr wlieee need l xpreantil above linn been eitnb lliheil for many yearn nml Ii resources of mere thnii 910,000,000. The cempnnjr hn n ! Oman Oman liatlen eomneiieil of clenn-ejit, liand-pteketl men who ere liere "for life." The company In preml of It men and every man Is proud et 1H8 company. In 1028 new le record !' be made. Many terrlterlm will be Inlenelneil and new trrlterle opened. Tleeaime of thin exparmlen pro pre cram the company neeiu about ten men who nre lienett nnd who will work. Thcee men should be between Iwentyflye and thlrtyflve. They eheuld Je ambltleue nnd anxious te develop themselves n worth while, producing anleemen. Ont Ide eperlence U ileelrahle lint net necenenry. There are tplendld opportunities for the meu who associate them selves with n new en a salary bant. Appllrntlunii are Invited from point uutalde of 1'hlladel phla, as e cover n large1 territory. Write frankly and confidentially se that Interview may be nr ranged. Vleasr mention "lie. holiness experience, married or single nnd telephone number. Address llex A OiC (.'are Ledger OQlre SIDRM CURTAILS STOCK DENJKS NEW YORK STOCK EXCHANGE TRANSACTIONS niv. Hales In t 100 1330 20.1 I S1Q0 - 100 Market Apparently Shaping Its 2J2 . r, s. ! 400 course ier anoiner nesi Period JW"" Spruce 8200 BOUGHT SOLD QUOTED United States Government Securities srcrniTiE ui:rAUT.Mi:xT COMMERCIAL TRUST COMPANY Member Federal Heserve SrMrm City Hall Square West New Yerk, Jim. 28. Trading in to te day's htock-innrket wns greatly curtailed . by the severe storm which mused per- j 1mm Interruption of the wire service. While prices were little chiuiRed the I Itencrnl lM rentlnucd te "hew Tfac' tlenary trend. Sonic of the peel mink-1 vnloretm efforts ut different Intervals i te give the market n coloring ei ftrhittli. Thep indivldunl demon-. trntleiiH brought a few of the special- llrw Inte iiriiinlnenen again, unrticiltnrly I Amerieiin Ire. luvlden Chemical nnd , Issues of n like chiiraeler. American , ' lee established n new high record. The , j lepresentntlie chare in the meant lint I moved within nu row groove a"tl ns,a 1 rule showed genernl small gains at the , i elee. The trading was nlinest exelu- I i "ively renlined te the professionals, i Trem nil appearances, the marKct i ' , "dinplng its course for another ret : period, which perhaps was semewhnt I hastened bv reason of the ill-timed spectacular pyrotechnics in the inde- , pemlPiit steel group in the prceedlnir i week. It does net require nny Great 'amount of experience or strong pases te discern the ultra-artificial character I of the current market. These side .shows, while attached te the big tent performance, contain practically no sin- . nilicance whatever in n far ns relatlnK , te the fundilmcnt.il situation and ma e entirely regarded as mere Hashes In the pan. They represent merely I lie nbill'v of what may be called bob-tail peels te make momentary uementra- t tlens in few -hlghl manipulated, or closely held, issues, while the represen- i i tatlve shares und recognized speculative I enders tnnrl: time pending completion of adjustments neccwirv before there can be n resumption of the constructive program. ' There are eally te be found a num- , ber of conditions nnd elements which would account for the slewing down of the market machinery which has been in evidence since the eperiin; of the, j ear. One is, there is tne absence from the market arena of n number of in :uiulnl operators who ar" taking their mid-winter vacations. Anether is, that ive are in re season of framing fore- i easts of i he possibilities of the current j ear both s te finance and general eUHlucbs. Still another, wns the unde termined nbilltv the peels and specu atlve cliques te maintain the ftc-h po sition the) had taken na inllucneed by the rasement of the money situation. I In ether words, the present juncture in the market world U one in which there are reasons for much thinking and very i ittle rcem for action, in fact, the ele ments of uncertaintv are Mich as te make it most difficult te draw very I lnrge conclusions. Little in the way of comfort is of 1 fered as te any immediate recovery In the business situation. It is the opin ion of most of the recognized authori ties, that the net two month in trade ' and Industry are uulte likely te be very trylug. There is cverj possibility of a material increase in business mortality which already has grown te nhirmlug j proportions. Yet what much of this, represents was foreseen months age and quite generally anticipated. Hence, rem a beeurity market viewpoint It will therefore probably have less influence than if it represented something unex pected and unknown. There are ahead, a long proce-fcieii of dreary and uu- Itrll. Iahe. 7030 Uerstene. 3fm 87M i premising statements covering tne eper- tnas.ifYZS-'"""' . i ' , i atlens of the past ear. lliey ale gelns te maKe mighty unpleasant reading matter. Hut the fait for en" moment should net be lest sight of that this will represent n condition of ti past am! corrections of ill adled policies insti tuted a a rcs'ilt of the inability le measure the revolutionary changes pro pre dui'cd in the transition of busines.s from a war te n peace bnsi. It is well te rememup" at all tiires thai the weaker foundations of the fundamental structure have been en tirely removed and that the banking machinery of the ceinirj linn been re stored te a sound condition with a thorough readjustment of the intlated and disordered credit situation, together with the alleviation of the individual and corporation distress which such a process invariably involves. In "dierr, history and experimee ever has shown I the cyea of the market world alnavs 'tialn the vision toward the fature a ."id its pesulbltitiei and never en record has there been ttn instance of looking backward. F Bank of North America Rights te Subscribe BAftNES & L0FLAND 147 S. 4th St., PhiU., Pa. Tel. Lembard 41-7! CSTMMWlB WITT I ' Jl- " '" c WANTED American Light & Tract. 6 Notes, Due 1925 Arthur C. Richards & Ce. Private Telephone te iVete Yerl: Drexel liuildinff Safe Bends "fir Investment HALSEY, STUART &. CO. Inc. LeaA Title DISr. Pbene. Loeiat 8t0 c. S. PATTON & 3D i. CHKSTNtlT STS. BANKERS CO. SnrcTBunrs tn SAir.EU .V hTi:VKNSON Bend nnd stprke heusht nnd (.old. M.ml-frs rhlln. Pteek Hxrhance MANAGER Dulrei position nu Manacer cf branch eftlce with tack and bend lieusi I'hila delnhU preferred or a-iynh-re In Penr.-yh-n(R Complete UnOHlxdse e bus'neas nd hlchut of rerrtni.e ', be fuin slied Address nreker A.9ie. l.rpeKit nmn: en mm m tm , i i him J I RESPONSIBLE POSITION AVunted by Kcntifin.ir lumwina very datall of Hie Jk -u, i .s!ntss. l-A rference A 8ie. u:i(.i:it erni i: Lawrence E. Brown & Ce. CERTIFIED. PUBLIC ACCOUNTANTS 1880 HKAh KSTATR TKL'hT lll.DCi. invtutlirata end udjus- urueraiia , ar.d ErtnrBhlp acceuntj and prcba-e ince.-ae Tax Itttum. ' Commodity Markets GRAIN MARKET ' lilcjpe. Jan. U Wheat h'nrted : te 7se lngher for Maj tunl '.. te r',c higher for July There w:ls general commlFsien Jieupp bujlug and offerings v.ere limited. Higher c.ibhs were the incentive behind the biivlng. far-, in pectcd ye-terdaj. twenty-three; last year, tvventv-tvve. The cash market was firm, with a joed dimand. Arnuml "iIMI.IHIO biisln In of wheat were worked f'pv expert jirdi. and the (J reel, nrdei fi.- iW te 1,000.000 bushels is estHitid i he placed today or early next week. Cern nturred ',, te !S'' hiRher. with hinitis by -inp)lnj,' and i atiit luimes. iitferii'Ri 'vcn liRht. ami t.ierN i ; te cover. Oati, opened '' higher, with n wliip pin? l.ea-'.- ieudini; local Intjinj. 100 10440 .03 100 H00 100 H01 3400 100 1700 .1)0 '.'JO 1000 100 000 400 40J H00 8190 ftoe 5330 00 700 noe 1700 .'00 MOO 1300 290 103 -'00 700 100 .-.oe noe 200 113 100 J MO ion 100 10.1 is 000 :ioe 200 :ioe 200 300 noe tee .TOO 200 400 100 200 2)0 loon 100 100 100 2M 131) :no 101 10!) 2:1 111 210 410 400 403 7.-33 310 700 noe 033 431 1033 2S10 3003 noe noe 333 hOO 4703 130 213 410 103 231 tee 2700 701) 101) 401)3 100 1)133 100 2J0 330 2C0 333 2)0 303 2000 2J0 IJ1 .VJ) 100 2t)0 130 230 1300: 100 .13 JO 1433 103 100 103 2 JO 100 2430 1&0O "OO i'J3 200 2J03 2330 ltlxh . . Adams Express 01 Vi .. ajhx nubbcr i4Vi 4 Allied Chcm & Dye... 8Vi 4 Allla-Chatmera 41J4 .. Am ArtIe Cliem 33Ji 4 Amn Shoe Fdy new. . 58yi . . Am Beach Magneto.. 3S 12 Am Cnr & Pdy 14H 7 Am car & Fdy pf.,..118J4 Am Can 38 7 Am Can pf 93? Am Chicle 8 Am Cotten Oil 19 ft .. Am Cotten Oil pf.... J4 Am Drui; Syn & 7 Am iee 80'4 0 Am Ice pf ,.. 7U Am Internal Cerp ... 40? 1 Am-u nance Enn... 9?4 .. Am Linseed 31 Am Locomotive lOe'v Am Safety Itazer.... 4t' .. Am bnip & Cem.... !4 Am Smelt 48 U 3 Am Steel Foundries.. 3 . Am Sugar Hcf M .. Am Sumatra 32 7 Am Sumatra Teb pf . . Si Am Tel & Tel !!? 12 Am Tobacco 132 I' Am Tobacco B 12SJi .. Am 'Wntcrvvks 0 pt. 21 7 Am Woolen 82 .. Am Zinc Lead & Smelt 13Ji . . Anncenda Copper .... 4S Asse Dry Goods ,"3Vi 0 Atch Tep & Santa Ve. ? f. Atch Tep & S F pf.. 87 .. Atlantle Fruit 3i .. Atl Qulf SWISS., mVt Atl Gulf & w I s spf 21 IBVi 9S3 CI I , CI seu 08Ja 46i fi2JB 31 Ji CI 34 ae 2' 4 13 . Austin Nicholas 7 Ilalilwln l'lometlvw .. Bnltlmore & Ohie.. 4 Baltimore. & Ohie pf .. Batepllan Mining .. 3 Bethlehem Steel B.. 8 Bethleiirm Steel 3 pflns .. British Km Steel 05, . . Brit Km Steel 1st pf . . CO 8 Broeklvn i:dlen ....107 .. Brklyti Rapid TratiMt OH . . Brklyn H T ctfs of den 8 .. Burns Bres A . ...HOh . . Burns Bres B .... 29 .. Butte & Superior Cen. SC . . Butter ck .. Cat Zinc & Lead. ... 0 California Pncktnc . . . California I'etreleum 2 Calumet & Arizona. . .. Central Leather .... . . Central Lenther pf . . .. Cerre de Pasco a Chandler Meters . . . .. Ch'caKe & Alten.... . . Chicago & Alten pf . . .. Chi & n 111 (new).. . . Chi & B III (new) nf S2Ji .. Chi & Or West pf 14i .. Chi Mil & St P pf 303$ S Chi & Northwestern. 113 !i 7 Chi & Northwest pf..l03 7 Chi R I & Pac 7 pi ' .. Chlle Copper 17 H .. Chtne Copper 2C'e . . Cluett I'eabedjr 52 1 Coca-Cela 41 '2 Celum Gas & i:iec... G8',i . . Celum Graphophene . 3 . . Cel Graphophene pf . . Vti 4 Cemput Tnb Records. Ctfi . . Consolidated Cigar . . 27 7 Consel dated Gas .... 88y4 .. Consolidated Textiles. lrt4 .. Continental Can 4-11- 8 Cern Products Ret...l02',i :.S0 Cosden & Ce 31i't 4 Crucible Steel t .. Cuban Am Sugar 18rn .. Cuba Can Sugar pf. 21 ' .. Cuba Cane Sugar e 4 Davisen Chemical ... 61 Va Delaware & Hudsen.. 100 0 Del Lack & Western. 11 -M 5 Endicott-Jehnsen .... "9J li Electric Storage Bat.. 141 . Erie .. Hrle 1st pf l'K a Famous Players L . . . 78Ta M Famous Players L pf 83 10 Flidier Bedy 85 .. Kreepert Txas . 15 . Gasten 'iV'nu & Wis.. 'n . General Asphalt 67 'j 0 General Clear Giia 8 General Electric 142 V .. General Meters h'j .. Gray Davis ls'j 7 Great Northern pf.... 7: ';v 1 Great North Ore ctfs. I U .. Guantanamo Sugar .. t't .. Gu!t Statt- Stel CS 4 Haskell i Baflter Car el . . Housten OH .. Hupp Motorcar 7 I lllnels Centnl . . Indlahema Ref .. Interb Cen Cerp .. Interb Cen Cerp pf... .60 International Cement.. 3 Int Harvester new.... Int Mer Marine pf . . . . . . Interr.at Motertruck . 7 Int Motertruck 1st pi 7 Int Metprtrucl: 2d 'if. .. International Nickel.. . . International Paper . . C Inter Paper pf Btpd.. .. Invmcble Oil Cerp... .. Island Oil . . Jenes Bres Tea .. Kansas & Gulf x K.yser & Ce .. Kennecett Copper ... .. Keystone T f. 11 3 124 10t 3 1 20 'j f2'e l 20 '4 2) l-'i m ',4 24 't 87 i?v 17n I-ew m 131, 41 33 Ji 8& 2.1 145?4 118 30H IB Vz 80W im 30t ie.ih' 4!h 8?4 40 30 C4V, 20 Vx 31 UAH 133 138 Vz 21 et V, 13U 47 5Pi Sfi94 87 3Vi 27 '4 21 l'i 0.7 33 '4 fit f, 70 iS 10S ih G 11)7 OU UK 20 2.'. 30 1'. C5T 40 19 ?4 31 !e r,r. 3334 39 ' 2 2H 4 i;i 50 , 0.1 1 4 103 85?i IB'a 2fll4 r,i 'z 44 avi 2n Hii 04 j 27 814 13 0:-2 10 1 '4 n4 Cl4 IN 21 0': (I0U tee 11254 78K 141 t"i 12 !i 78 91 83 13?; u Csi.. 142 " 8?8 IS 13 i Cti M 73 12 H 100"; 3-Si ' fif, 28 Ji KJJ's bC 2ft J?4 .19 12 4SVS ; 2-S ; .- . i (.''4 c' 16., rxlsy's Net Ulene Clue. 51J4- Vi 14 - K 41 i 33 Vt as's-f 1 35 - Vt II6I4 IH 118J4 1W 38 -r lYi 5Ji 8 H le-w - U I 42J4- K m- u 89J4 V 3 74V4- 94 ' 6i 31 - li ion 'i 4!i S ' : ' 40U .. , ret; .. , tr, -:- !i I no - i j si - 1 iir?4 .. 132 12s li - H 31 . . 1 H1K-. 13H .. 47t-: li 3!n-:- I'-i cow t I 87 - H 31i- !! 27 4- Ja 21 .. I 1G4 11554 -r S ' 33?4 . . I 54 tj e H - i 108 v no 107 - 3 nli - li llttW-r i 20 ?5 li 30 r X SH v M !8;a - li 40 39?4v ?4 3i!i- Hi c5 :- 1 34 S0Ji-r 'i1 4 -: u 13 32'1-i- ?i ' 14 !i 30f4 V U (13 14 i- ' 103 -. 1 ' 85 J,- 'i 17t I ',4 r,n- i 32 "s 44' P H 18 JA ' " 2T 'i 11HH ': C4Je- 'i DIv. Pic In i HlKli 1400 eKreflgeSS.. 120U 300 .. Lackawanna Steel ... "'. 100 3 Lee Rubber Tire S7?i 400 3.ne Leh'gh Valley C8l' 100 13 Liggett & Myers !" 409 .. Leewo co I2U 2?30 1 Left Candy 11H M800 .... Maclntyra P Mines.. 2?6 200 .... Malllnsen & Ce 1 3J3 .. Manatl Sugnr : 3)0 7 Manhattan Elev guar. 43J4 800 1.78 Manhat Shirt 39J5 100 .. Market St Rvvy 3li 203 .. Marlln Oil 23J lfi0 .. Martin Parry 3l May Dcpt Steres 108 ?"? 13 Mexican Petroleum ..USX ?0i.20 Mlddle Stntea Cerp... llji 13M .. Mldvale Steel !0t; Today's Net Iiw Clese ChM. lift 4 40 14 27 .. 68 100 -J- 3M llH- 3H 10 43J6 39 - S3!4- 31 W 7 117 40 S7 OR 100 11H 10 s H 19 42M 43 39 314 taw 54 311 8854 ' 13 --4'i- 101 SI4 - T4 - W 18 -21 - ceu- 100 - naii -- 70 Ji -r 141 174 :- 78',- 01 w- 85 14 '- ! . sah -s4-- Is - 73 3ITj : s t: yi -H'iv 7:1 -HH . 1004 -J- 30,, -2U-T 04- 2S?4 82S.J ;- Ifllj - Z9-t-'?-53 i- U 49 i.a rj - !4 . i;i Hi 11 j 'a 'II U 1. V4 ' In v4- S7 2S34 16?b- - 1 Vt J1 700 100 700 100 me 400 .7)0 TOO 300 10O 103 100 100 100 3510 500 130 433 203 1200.. 039 100 100 1310 300 2)0 730 139 100 tee 7 30 130 26.7) 100 130 100 100 233 400 100 103 100 300 100 200 030 1193 2)0 1233 J SO lue 4701) ISO!) 100 300 700 200 100 300 C 200 300 200 1403 10.) 230 870 2030 100 531) 100 403 100 100 1C0 330 :;ue 4117 000 noe 5100 530 tee 3" 00 200 r.eu 1(10 noe 210 400 700 700 100 703 130 2 (.30 100 3100 !I33 533 200 2VJ0 100 230 3)0 1003 i)0 309 101 300 S)0 203 MO 130 r;ij si je 303 16 lU 139 Me Kansas & Texaa. . 14 .. Me Kan k Tex pf.. 1?6 .. Me Kan tc Tex (wi).. 8)4 . . Me Kan & T pf (wi). . 245i .. Missouri Pacific 115 .. Me Paclila pf 4li .. Montgomery Ward ... 13H 0 National Lend 87 . . Nat. R R of Mex 2d pf 3 .. Nev Cen Copper ' ..NY Air Brake 58 U New Yerk Central.... 73-i fi New Yerk C & St L.. 35 r. New Yerk Deck pf... ilia .. New Yetk N H fc It.. 13 .. Noneiit & Southern.. 11 7 Norfolk & Western.. eSi 3 North American ctfs. f3 3 N American pf 40 tj . North Am Clai") A Rts. OH 7 Northern Paclfle .... ' .. Neva Scotia S & C... WV .. Oli'e Bedy & Blewer.. tl?4 . . Okla Pred A Ref 2 .. Ontario Silver Mining. " .. Orphcum Circuit l3'i 8 Otlq Elevator I"', .. Otis Steel 10 . Paclfle Devel Cerp... "i .. Pacific Mall 114 a Pacific Oil 454 e Pan-Amet Petrel .... 51 34 2 Pennsylvnn a R IX. ... 34 Ji .. Tcnn Seaboard Steel.. 8M 8 Peeples Oaa Chicago. 60 JJ .. Pere" Marquette 20 r. Pere Marquette pf.... 33 3 Philadelphia Ce 32S .. Phllllps-Jenes 84 3 Phillips Pet : . . Pierce-Arrew Moter . . 10 .. Plerce-Arrew Met pf. ? .. Plcrce Oil uy. .. Pitta & West Va ', 70 Producers lleflturs pi' 39 4 Pnb Scrvice of N J.. 80 8 Pullman 112 .. Punta Alecre Suifur... -Iflrj 2 Pure Oil Wi 8 Railway steel Spriuc ''54 .. Ray Cen Copper .... UTi 4 Readme 72?4 . . RemlnRten Typewriter 32 . . Rem Typewriter lbt pf 3 .. Replogle Steel Hi .. Republic Iren & Steel 51U .. Republic Meters 7Vj . . Rebert lteia .t LV. . 9 .20 Royal Dutch N Y.... 0m .. St Leu's San Fran... 1W .. St Leula S W It It . 21 !4 . . St Leula Seuthwent pf I !i . Sunta Cecelia Sucar. . 3Kj . . Seaboard Air Line . . "in .. Searn-Reebuclt tl'u .. Seneca Cep Cerp.... 17-S .. Plnclalr Oil 19 J4 .. .Slots-Sheffield 40 0 Southern Paclfie .... fe?; .. Southern Rail 1B14 4 .Standard Oil of v-al.. t4 5 Standard Oil of N J.. 178 7 Stand Oil of N J pfl15 7 Stem Bres pf 07i i Stewart Wanier fcpeed St.! 4 .. Strembere Catb 3 7 Studrbaker 86 14 .. Submarlne Beat Cerp 4v, . . Tenn Cep & Chem .... I '4 8 Texas Ce ' 1 -15 . Texas A raclfic 27 1 Texan & lie C . O.. VlJi 2.30 Tex Gulf Kul I1H .. Third Ave 20 ,i 0 Tobacco Products . . . bSJ4 .. Te! St L & West ctfs. 15 .. Tel St L ft W ctfs pf 23 j . . Tel St L & W cttJ pf B 30 . . Transcen Oil ID .. L'nlen Oil J4 10 Union Pacific U7 7 Union Tank Car Bt m United Fruit ivj .. United Buy Invest pf 22 C United Retail Stores.. 54', iiiSLlPi Tdy pf .. U. Feed Products. .. U C Ind Alcohol... U S Rubber i L s ttubber Is: pf. 0 U S Steel 7 I S Steel pf 2 Utah Copper .. Utah Sc .. Vanndlum Cern ... Va-Cnr Chemical 37 t' C34 0954 H72 C2?4 ieca U 4 C Va iron Ceal & Coke. 80 . . Ivi'deu Ii'c U'A . . Western Maryland ... 8' . . Wentern Pacific 10 'a Wiatern I'uclfla pf . . . 42'4 7 Westerti Union Tel... te'' 4 WtbtlnBlieuiki i: & M 40,'a . . Y.'httu Moter US . . White Oil Cerp s .. Wlek Spenc Steel Cerp 1454 . . Willys-Overland . 1 4 Woolworth F W ....111 103 1111 11W 29 i 19i 8'B 24H 10U m 1.1 se?; n 14Jf, 58 1; 73 y, 33 54 VJ I.H4 10'& D8i tn 40 flj 70 "li 11W "li 3 I'U 1101b ie 7J4 1114 45li 514 :4i rt4 co 20 Cu 32 83 23 10 31 2114 39 70 IA lll'i 30 33? 03 14W 'lis 31b 5.1 1 5t Ui 9 fie?4 7tH 21! 4 :.H 1H 2J. t3 I7'4 19 U 40 80ti 17f4 CI J. 17 S 1!3 975; 28 3S4 4?; tu 3 ir'B are It) . 20 15 27 jt '.l)j :'4 18 ,1 2l! fl& 120 i4 ,-JU i7 r. 2- ? 99 5 is 117 in ., 3 j 30 !4 8 i 15 av ', no'. ..: "t I4 . 143ij 10 T 113 11?J- 30 li li la Hli 24K 10 li ) 13 -87 - 3 -14 !-58J'4-73Ji-55 54 IS 1514- 11 ? 98-;- C3H4-4014- 0 -7-2315-lli- 2'i S - 131i 122 li 10- ?li 1114 45 U ! 5194 4 34?a-i 8 lir 20 53 32 83 -29 -10 -. 34 914-2414-i 33 70-'-112 -3 . T v C3?4 -14Jjt 71j 31 "j 35 - : 1 CII4-;-714- 9 : r.0-4 ?n . 21 '4 -..4 U - l- 2Js -1-C2S4-17.-4i- ii);-i- 40 e0?4 174 . wa 178 -t-113 7 ?4 28 3!) -- (Oii-r 4?i :- 1 '4 ty, '"fc vii- 41'i-- 20 K 63?-j 15 78 r 30 -i 10 18 4 ' lH.v 97 127 - u :- :); - 37 - fir nii-f , i":a-i c- 10 J-3t4-r 30J6 80 J5 . 8 b lOJi-t iKs . B1 -S 11?- 141 -- s 394 ?4 !i u "li IS M 14 !s 3 H 1T4 W .ft ? 14 li ! Vt i HEAVY'SELLING OF P. X. COMMON Recent Steady Absorption of West Jersey and Seashore Regarded Significant NEW YORK BONDS Ml tSALKSlMIIOOOl Arxe Its'e ni 2 78 Canadl'n Ntlin OHn rets 0.... 100'i fa lid' a Pae 4i Henry Relllng of Philadelphia Klectrlc common oteck wns the outstanding fea ture of the trndlng In the local market. A turnover' in excess of 1C00 nlnircR was made In stock during the two hour session, most of which vveh token at par, but lnier the price Minded te 21. There wns nothing In the way of ncvvH le explain the liquidation, which undoubtedly was prompted ly the additional Issue of preferred stock. The new offering of 54.000.000 of the pre ferred places $15,000,000 of that i"sue nliend of the common stock, nnd while there Is nothing te vvnrrnnt such fearn, thcre is retne doubt expressed a' te ability of the company te maintain the common dividend, especially If the finan cial requirements eontlntie as heavy as they have the last two or three jears. It might he called n long-distanced light, ns current earnings Insure the stability of the common dividend. Trad ing nt the name time continued active in the preferred warrants when Issued, with the price moving up te lai. Trans actions In the preferred were light. The continued heaviness of (lie Hunk of rserth America warrants wits the only ether noteworthy feature; these rights Ktistnlnctl n further decline of 2Vs points te -14, low of the weclt. Pennsylvania Hnllrend continued ejc of the strongest spots, advancing te lfi'V-2 "" "J"1 lets of lulled (.as !i 1 improvement came out nt unelinngcd prices, wane the preferred yielded n lA te CI. Philadelphia cumuliitlvv pre ferred was 14 point higher. Philadel phia Rapid Transit wns unchanged ut : llie recent quiet but steady accumu !4 ; lotion of tlie West Jersey nnd Sea !4 fhere stock is recanlnl .m fotcshndew- Ing some unusual development in con nection with that issue. Suspension of dividends und the widespread liquidat ing movement in the security markets Inst year carried the stock down te 27, or 10 ieintn under the high price of the yenr. In the recent absorption the price wns advanced te 'M, which nrnctlcnlly cleaned up the entire float ing supply, which Is continued by the inability of ene of the leading houses te execute nn order for tnu shares within the last three or four days within u point of the last quotntien. Jt Is quite generally known that all the offerings within the Inst six iiieiiUib were taken by a prominent down-town bnnklng house, which firm, it W under stood, has a stnudlng buying order, which was placed in the hands of scv scv eral fioer traders. In ether words, they haw been holding the bag and getting nil the stock without bidding for it, except in making n progressive advance in the bujlng price, ns the Meating sup ply was cleaned up ut the different stugps. The reeevety In stock from tne lib normal low level reached Inst year Is believed by some ns foreshndewing nn !4 1 early resumption of dividends, which I apparently are vvarruuled by the results I t cached In the extensive retrenchments 14 I made te cut down the operating costs. ''i I Othcis, however, who have been mak- ? ing a careful study of the movement. I arc cenllilent it has greater importance 5C I behind it than the lesumptlen of tllvl- V dends. which is suggested In the effort ? I of the Peniuj.vlvnnia Uallread several ? ynrs nge te bring a cIemt unification 1 nt tlm iitiiimrtv within tlr Peniisvlva- ' 1 ilia Uallread system, which plan was 1 upset by the jullivj of the Public Serv ice Comml-'ien et New Jersey. 14 '4 K !a 1 ?4 10 73 10 78 2 78( 2 73 2 78 0 78 0 78 (1 7H 1 78 8 78 IR 78 2 78H Can Se'll H be 8 0414 Cttlia Cep'r fin 1 A7S 1 87S r. 87 0 8794 B 8711 10 87Vi 1 87W ""till Cep'r 7 1.... 101V. r,.... leiu t 101 "hlrts (Jeve't h-k niy n. 2 444 City Uerne Ss 3.... 100i rlty et Bergen 3i rets 1.. . 10O 1.... lOSVi City llera'x On 10 h.154 1 63 1. ... 83 1 S3 2 81 0 S3 City et Copen hagen BVtt 1 88 V4 1 88Vd City I.yena f n 0 82 r. 82?, Cty Itle de Ju Ju nrle 811 3 09 1; r. 1104 0 09 U 1 00, a 00 h 0 hum, 'llv Zurich 8a :.... man 1.... 109U 1.... tesv; CubtiAn C 8 cv 1 7.1 1 74 2 73 "ubali C aui 8a ata 1 73 Cubu nallreait Ce 7je 1.... lOOVi 1.... 100H, U K art llrit A I'd 10ZO 12.... 100H 13,.,. 100 1,... 100)4 8.... 100 0 k art lint A I'd 1987 2..,.. 0814 1 flSVi 14 tlSH r. esit 1 089. U S rtraili . 101 1031, 103' c. .1 T.', Goodyear T A Hudt -ai . 1 031 1 0814 2..... 04 ,.... 08 H 8 OSh 2 P8V1 Ooeilytar T & nub'r '41 1....-U2,, 8.... 111 10,... 113 2 112 O N'n Uly 1st 1 811 VJ a Ne'n rtty 1 103H 103H 103 103H 103H 1.... 103 N I'aclfle It 3 1 01 N 1'flcina ir 4a 1 85, Oresen 8 L 4a B FRW 2 88 Orpiren 8 (.lue tuar'd Ba 1 0794 2 P7 10 07 U 1 l7yj Otla etcel lat 3 08 4 1)8 Orn-W n ,H O Itep'e I B 0 , . . . 1.... 1.... 1.... 1.... U 8 Mexico 4a 8 414 U S Mexico n n nr.u 2 no On'd H Mexico l.aree 0s 0...... C Am'n Acr'e & Chm 7 Us 1.... 101M .. . 101 H Am Oct Oil ti 0 81 Amn H A It nn, 1..... ss'A 1 88 VmcrlcMi 8ue Itcff 0i 0 OS 0 07H 2 07T 2 118 B .... 08 Am T & T clt 89 A Tel & Tel Sa 2 03 (1 03 1 03 A Tel & Tel 0a 2.... 100 3.... 110 3.... HOil A T & S Fu uj Krnle) SOU A T it 8 Te 4a 2 RSi 1 .... S9U II 88i 0 HSU 'Atl Ce.il'. I. h 3.... 100 :.... 1079 :.... 1074 !.... 107,4 ).... 107M Hud & Man f ' 2 7S9i a 78H 0 78H Hud ft Man In 0 niy, ir. Bin r, r,4V4 r. B4H 10 B41 111 Cenfl 3a 1 D891 llnt'e Met 4Wa 1 H'i 10 14H Int M ct 44 1 1191 Injb'e 11 T fil 0 ... 20.... (I.... 4.... I!.... 10.... ( n.... no.... 107Vj I Ni"' '', " 107?'i I C 7894 01 Vg 01 '4 r.2 01 Ti 0194 02 G2 0194 112 02 03 02 C2U C2v Int'l Aitr C r.a 1 72 I M Marine 04 1 Dli 1 014 1 up; 0 01'i 1 01 t 12 01 ',4 10 019i 10. Halt Ohie .Isjntern'i l'aper B 73 nait & oiiie r.s 1 7794 Halt & Ohie 01 r. .... 0094 1 0014 B & (1 P I. IS & W Vtt in r. 74 Unit & Ohie S W'n 394 Ca rcta 4 (i 83 K SO 84 4 n... . si H Kan C & S 3s 1 04 ICun C & 8 On li 8P4 ITelly HurlnsM Tire 8a 87KI C... 103U Drninirh Cen ,P Tolepheuo.Lo i Naah 4a cct A 84 et ra ,a 1 ...... i"v 2.... lOOVi' 8.... 10l!Vi ct B 8a itn attl rj va B Htcl Ba '301 1 8S'4 1 S8U B KJl'n Ce Bt 1 ney. 73 9k Pac OltGJr 3 88 Poe T & T Ba' 10 0494 2 ntv, Packard Moter Car Ce 8a 1 net Pa It tin 4 94 2 87 2 83 1 87 I'cnua It It "u 1 05'S 1 D.-.i Penrm It 094 1. 1.. n.. 1.. 1.. 1.. 1.. 1.. 1.. 4.. 1.. 1.. 100 100 103!4 10.-, 1H3T4 100 100 100 10.-.T4 ion 10314 2.,... 031 3 m a 09 h n 0391 ttle Urande A W clt 4a 1 OTd at I. A H F ai 4...?. 72) 18 7294 20 72U 1 73 H 1 72K t U 4 S V In B BIM 3 lu r,4 Ht I, & M Kran Herits a 1 08". 1 enV4 Ht I. & H Pran Herlca U 4 0BU St I. A H l'ran 1.... 103 St li Uew'n en 1 72 St li Sew'n ! 0 0.114 tieau'd A 1. aj 11 1R4 B til' Beab'd A h fd 1 34 2 31 61) btevl 11 8J 1 P0 1 00 Sinclair C Oil Cerp 7',4e 13.... 100 8 nn9 2.... lue 1.... 104 fr.niy094.ww, 0494 04 y, 0491 04 S 04S 94 0114 OiVi Olu ni9i iJ WIS 01 '.4 Plrce Oil 81 1.... 100 rata c cm 8t L A On 0 03 Pub Bcrv CetP .N Jay 0s 1 77M Ileadlntf Ce ! 0... 1... 1... S2 82 82', 10.. 10., 1..... 1 2 ! 1 3...,. 13 1..... 4 1 Btand'd Oil et vnur is 1 . . . . 1 nn i. B4 Whltd Ave ij a .... Bt 4 .... P.i Third Ave 4s e.. . O0i 1 001j 1 009; (..., C0i, 1 r.a iTJ'Il Tank C 7 1.... 102'4 1.... 1024: Unt'd Drug g .!... 10394 U 8 nubb'r tt 2 87 7 87 1 87 0 87 v a nub 79t 1.... 10194 U'd 8 3tcl K 1.... IOO'i 2. . . , 100 r,.... 101 1.... lOOli U inell. jVa nwy Ce St 1 nn Wabuih It lit 1.... 100 I 1 no Ge'n I'aclfle fd Wcsfn Kiee & 1 1 ft r, en4 1 B. ..83 2 09't t S'n Pae cv 4s W Union 0",4i I 1 tf 2.... 107 I 1 88 Wfstlnghs'e H Sn Kallway 4 & Mfij 7a 2 cm 1..., 100 I....1 019 2.... 103'i 2 02 " in.i Sn Kallway B Wllsun Ce cv C. 10. 809i 1.. .. 891J. 00 iWHteii Ce 79, l 2 00 3 OB'l Liberty ::m . . lilberty 3st 4Vis Uberty Uil -His Mberty ,id i,K Itlah im.ne im.ne 1)0.10 lyOW I)."..JI0 no. ie nr.ne J17.0: 11 Me A. M. SC..1I0 00.fi 1 im.ef nr.2i Liberty -1th -tHs. J)fl.2i M.M DO.'JO Vic Notes a-)i.. 100.2a 100.1(1 100.22 Vic Nete 4.. 100.24 100.14 100.24 i'ew Yerk Curb Acini ?rtl . . . llrndifv IT!, Mirr.if Clilence Xlnrle . . . eiumniit Eiiisrald INUUHTKIA1.H Illch 1.... 10091 7.... 1004 P Canada '20 3 0794 n Canada '20 K .... 08', 3 !8, 2 U94 D Canada '31 1 4 079J r. 117 Dem Itep'e Ba 1 8BI4 Dutch K Pa Cs 0 04S 1 019 1 !ll'4 Odve't Trench II 7jB rcta r. .... 01, 1 0194 1 ei; 2 01 a... . 04. 2 013; 3 .... ! t f'4 1.. . . l84fc- Mi J -I" j)Ur,nt jfnterR ... 2... 10S4 10.... 11' Knatman Keilalt . . 1 10rtj 1. . Ull'i lOoedieai Tlr( -th attl fd 10. .. 10194 llludnen Manhattan B.... ier Le & Narh 7 1 10794 Me Petr'm 8a 100 1 tee Cen'! cf On fl r. 02 v. 1 0394 Ctl Leather Sa 3 P3 Ct'l Paclfle lat 1 R3U 0 83VJ 1 S3, C & Ohlj mi 8291, Mid 8 Or Sa 1 F3 M 61 8tL ci Ba 1.. 1 CO M & StL fd Cs 1 21 M HtP 8 8tC Marie li J! 67Vi U K & T aj wi c & a cv 4944 MHftle) 82 2(aalc) 82 '4 B 821, a sa. Chea & O cv Bi - 1 h.t ' 1 1... 1... 10... 10... 1 Kiln" I CM St Alten 3a B B3 114941C n & Q 11 ' ; Gove't r n hj.c 'in ."4 'ei r.i',4 4194 1194 441.4 41i 4494 44 H 14 lj 4m 44 9 H. 44. file K & T 4n kudaen Ce l'tcf i.inin r tine Inter ltulilur Lehlith Ceal Lincoln ."Iuteru A . . . . I.orimnblle .VIcAndrea & Perlmi . N .1 Ztiie Porfectlen Tire new . . I'hlllD Merrla Itr.rilr) rem 70V. 'Itndlii Cern nref .... Rni. I&nutheri) Ce.il & Iren "w Id. A,.. r Toua siriiii U 8 IMstrlbutlr.it .... U H L. & II U S Bhlp. Cerp .... L' 8 Mi-am United Pretlt fcharlnc Unlttd Iletull Candy Wnyne Ceal Win Daku ,10. . I H, : J'5 . ea . 2t . 70 . 21 ! . uV, . 0894 . 0 . B0 .108 . 2N' . 10 : 5 : V' . 724 . 13 . 02 . H . IB : l . 19a . 20 Lew 1 x 3 nj vs 94 7 1) 108 133 9J 13314 r .-' 1.. 5' I2 24 7(1 II r. 21'i e4 (18 ).. Bi BO 1U8 ' 5 1 729j 13 yn S 14 4 vi 20 lu '9 ft 0 72 94 13 I") II " 20 HTANIA1U OILS lluekeye PL '....03 03 Imirlnl oil Canada ...10J lnj Ohie Oil 2H5 20'. Htur.d Oil et Itidluna SOU S3 INDKl'lSfUKNT OILS !! Philadelphia Stocks 3. K h) Nt II1C1 I.i Clefo h(t. i";Aiiii-ci.iu ji s n-; ii-s-1- CM Am Sien- h" . 1(0 Am S fc C i l''s '-':h-4- 's ni Am tint-. . ."". r!l "" .. JOtAtln (Julf 27'IJ 27!)i 27:H '! ::etAni T.'cT.llOs lt(STs HTs-r 107 Il.inlc N' A war v. i. 10'j 41 41 2',4 lOtfnllf l'et. 4(l'i -107 -107; vs lOtlVnt Lea. .'i07s ".O7 !.Tt V-i 1iHit(i(lei)... .'11 .'ii 114 4-1 iiMtceiCriph a'-c, a-4 aBH4- antDav'nChm 007 """s 004- Va aetllt Ner pf 7.".i, 7:m 731; Vh .-.ilt.MI.Ual-. . 2117; 2!)7S 2!)7A fi. .. 3.. 1 . O . 10. 3 1. Financial Briefs puny, uTetilinn te n letter tfently b: the committee. Lcnt "ill St. Paul December net epratins m m eeijie KJO.!".!!, a ies, cf ?:572,W7. '1 he I lilted fruit Company tepert-) n.'t prrnins-. for the year ended Deceni br ill "f 10,O7.",7U!l. fq nil te $1(1 !I7 u -liarv lOiHpnreil vvitli S'JD.'Kt.eO". or rt-lU'l u Mhare. in I'.O). . American Hallways Company De cember rperntinc revenue of iIip nihil STATE OF TRADE . 1:Ian1'ii if buHrifsa. If net vlielly lac'.:-1 UJ.,'- rj. ' J,.' , 'JJ Inir. nt'll ilev(,iipa slowly, wver-hx g t' trude "'-' lene .villi. l1tT i-nerts 'the ce.deat weather of winter nt 1 S7 i (11.... .'tSU let Net f A. V HI) 107 l'emin It K .'U'.j .-.i rhii in w no oil l'hllii Ce. .'iJTs ,'s I 210 (Id cuiii pf ;'.7'j 1I14S JMiIlu i;i"e 2. 17."i iln pief. . 27:li !'."i4 de war w I 1:i I". I'liilu U T 1'h ndtlMillps-.Ini Si7s 10',Sears-Ubk 02 's i.i Tone He. 1 ',.. erialn pulnti has stimulated demand feri nun... .n..l..i. .. . .. .. . . . . .. ' ..u.j n.-M..iiH iiuvnrr unil l'jj . e inrn l a jllaifOaUlen te wetcli clesnly fei fc-uliis ated awl ( f.ntrelleil cempunie- v ok Ql.-' which result from ettmr thr.n purely tea-! 702 '.127, lis compared with $1.7M,4!Ki een"1 lllfiu)" . "f-va Dun'a Jtevlew I fei the n.rrespenling month nt the ..r. - .dTornt'lne-'li,?"?,1, twV , Minis venr. The nit eurnines were 1 'nni in t,n, i,,.,Zu. 1.... .J.'r ',ffi?.r: - - . -- - ' ....... .. 1. ...v.. 11 nut. mriiiur ... ., .1 1. , , .nu nu pn'i. . ii , i ietr s iii ai !.'!; KltWhlte Mtr :i7r!H fli) no ; !7 at7s a7', !.. 17-; N'i7H r.2'S lVu I'a KSii ni -i:i; in) "4j no . . :sa7,.. MTij American Vuel Oil . . . . Mucins Oil Husten Wyemln." .... llrittth American .... Carlb (3) r.dleatt. . . . . 0H, JI Im if. & V wi t'ltlea Kerv "I!" ctfs 1UU94 ' 7 --ii ! Crenl-i hvn ion I 8 70l J LI.' llnslneerd Pet ,nn, I 1 ... 70i. 1 " ' u I reden-.l till v" . . - .. .-. . 1 77-i 100&. -' a - vv in loom 2 co's tool.. .Chlcace 5111 & ,, I Inter Petri.1 Win, SIT 4s '23 - ' heyalOfiP Unmr-r . . Or-d Tninli of, .? . oil. ' ft'en. Kt """I Can Cs rcta i1"'"" f " Me Paclfie 4a M rldan l'et 1. .. 102 s" cv 4'4 . , cm' , .Vezlie Oil .... C0 1 2, J? Omar Oil W..V.) nr, J co"- '"'' "'!: It 77U aillllaml Oil 1 .. . . T7i lliidaeii Ol . . M i: ft T 0 wl ! Imperial Oil K. 10214 , rt I ...... ... I 1.. 102 OrM Trur.lt rf Canada 7n If).. 110 10 IdP LiOV ..00 Til 1 7h ...ui fie'4 likelly O 110 1 I M'ibnnt'a Pwr Ba L U'hern ,07,4'Ch!cjie Mil If, ftu X".X,0,. ; . ., , . atp Km 4Ur ; ..? rriiui ci .-c't li- e" Km 4a j or.9iVVllcex C h7. ' .. 80'l Mentr' 1 Tram- Woedbun C01!llnntV Pwr il I' irhern Pet A- ltct CMHtfO uu rnm. T Wnnilht.Fn (,7t: -'"i e: . vn wnya Ba it Oil . . ID . . 21 . . 71 . . 20 . . 3H . .Ifl'i :: ?i . 1 B.V .. f. . . (IB . . PI .. UH .. 1 IVg . . 77 . . Ill 13 .. 71 .. 10 :: ilA .. 1 1 . . h'l 1- '.'. I" . . 4'i . . 3 .. II .. 1P . . 2-l . . se 40 21 MS 1MV, 0.4 ig.' 205 4'i 21 71 10 8'i 109 IMi i Keldlu.n il. Bm 8ta 10 11.1 K llelc'm 74 2. .. 107V4 K IXit'm ret- 1 1 en : ... 10RSI " 4 ... ir,n " " 1 7 K'lncaem li.-n lc U I 4 T 4a 0 3 Chi Itwyn .in 1 Oil C It I & P fd 11 77 1. 4 -'IT l'-U 17-,s-,- H Kt7s 1 l'H 02in l'j.. ni i't .cm v. IChl JL IV I 4a, J 00 ft 73i, 2,1... mi I n 73 t 00 " 721. j , nn I 2 72J J Oh' 0. . . 72H u. . .. Of .Tr' 1 St I III'.. Vh 1I)Vj 101'j-L. Ai'i r 'I'veral titi.v if empavutiv' niiri..ic a btivttiL' Movement ilevel- -'I op'-il in American 1. .! pilv vvlneh inrrieil tlii pm-e . 11 iuuiuii siyn. up tn S", a new I1I2I1 r ?'. S2(il.n;!7. i coin ever the sir,e,,,l .hnvvn in 1020. Alter nil h-.l tetiejiH tin re us avullable for iliv ,ii ruls en (.0111111011 stm k $HS.Sbi) with .' .")5S. 170 Yn 1; Itvvy. 10 de lref tNet rii.-ing,. made bv cemnarlun with list Bale uii V -i Vurk Sle. ' lljchan.'i. 'I'.ll . . .1. ".il. . .1. .... ..nn. .....I .. (.1. Ten (If.lll .h r. j ut....l,.i TI1.1. I1... .1,1, .... . ... hulwieu gf wiirea or lr.r.--.asc.i in virk-141 435 fUr.i riiu.i)i:i.i'iii miMh , -'. r . ', f? rapid rutlval ut manufac - "'K '!' i'Uhmeii' 1 remains tlig con-Bie. uu'i 1 . -piien Tin' Delaware. I.'iekau.iin t .v. U'e-l-ein llnilreail. In im Direii.bir. 1021, watelllelll icperteil a lun npfrutlUK , . ---.-.- .. v- ...n,. vi ..... -il'I m:nimiai '" neurn iu enut leicr prciuillei centa -T- .. " " . "'" ""'. iemiiie'f. nnd the . -tatli.it' rillri.ad freBl,t rcdiietlena ! v.-li.ia .1. -pit. the J.!uyi (xner!.ned 1 ...in I'luwiitn- htr; te ue hc myllKhed ri.l 1, -leu unertjlntliM ntlll u-.sni ii.f.. . An opportunity In eiien for the invntmrct r capital In a local muiiufJclurlnic com pany vrblfh haa for year been very uc- .-. ut miiu una inrse inn iiiiurr. inie.ier may dealred. COTTON MARKET New Yerlf, .Ian. 2. The The average price of tins twenty .11 live .i,.f,cit 0r i-;!,a40, n compared with 11 lud''- 7n fu that January hi nduMrlal stocks declined 0.20 per rent , t ..pcatim: Inee.ne et ya.5lJ.71U for UlVZ "Lt ,esterday te bl..i, while the twenty ijeeember, 11120. Ita December gross In i-undiiienii thlj ear la ferei ' pc utnatur.-illj- a cautluui und henltant attlliuli lit nmiis guarteru und it n luctance I ... M..-.-1 ...r. iuiwni niH'raiione uy nutttnl 1 una ureuchi re haa net lemened Ive lmnreiem, nt fereihadnwed, and IVittlltl i iiuitiea ter the nmr ret mietiw firmer nf nn gilmnrn ..f raiiniauu ai"iw " 1"' ' " nmeunO'U te 8U,ui.i,ii.n, iwinu us , . - -- Vi" ""-.'.: "L'.'T" J" """I'neini- beceue urtlve If j i U) .3. ' (N ,0( Th(, 1 T4 M. 1.S01.13 lei-s than the pree,,Uns : jear; ,-ttd ft auddV.7 turn for the Le.Te'r. an"C" A 030, I.MH.KK OITiri: "Uc l" l-JI'pnrr irein Liverpool und . , , ,. ... ,, ,, , .. ... 111111 -emi"ni '' ,01 - . ...-.-.. cupnenmir me nepe or ruture expansion I 111 .rnnnne'e iiiteresM tmil ceverinc for ever Slockliebk r el Ajux IluhliT ion.- ter November, 10J1. Nit In November in cunaervnthH llnei la th fnvorable re- " - l"" 'ei;-..ii.,. .uiv vir.eniis .mil wire , '"'J J "-.. --r: ":., . ' Vi rT7!,i. "JJT, '.' '. " .." ..,1 n 1... ,s... V. "1.,..r." "".n- he dlnilnutlen of rule, un- ci.nnmB rri 1 'in r iiinr la nvu 1 nnia 01 1 nn wu("vu rn 1 "i i.j" - ' rwi'ivii niifiiiun nnut. " ' muur tii . rfitipiiifri. iilh nrnHncci or nxiptiftti hn . in, FOREIGN EXCHANGE the li-t held viell nl a net rise of 2D te "at reecntll offned te them nt S1-...0 hare. r . . in n . m j. ir, s.i M 2" . is 15 New Yerk, Jim. 2S.r0rein PX. ,23 point, cbajige at the opening this memmc w.i Ulgbtiy lower t! nn las, night W v.tr.h Denmark, in purtieulnr. .uft..wi n t. y. WH5?i. L...,..., Uecinber iii lul""i ' -' for cables I " "JAlnlll. fii I NEW YORK COFFEE MARKET .In mini. .,.....' " "' '""' ' ' mi, i,,v ....I iii,,m nn., ,...,?. 1 MMintuiw te the new Angle- I'erstiui ,, .n ata in;. .; S'W V.".. r"e. ,,,,1,Hli:, ,.V An-(el, ..-..v.,.,, ...1,,,,'fi .; r i;. is-mes. Over t21.MiO.mie w, miWilbel CALVBB-irtpt, iieV ; 'V " '.'." " -nuies. anii 1 ,-'":. r. .:.... :.i....... ;." ,f.. m,. r,., ,., .. .imm nmi fwi.iioe . Tcr i.i -" -1-J - -abVia. A L li 11-" 'IN' Ti 11U Him - ..--. .-.-.-,.-., - .. v II t I I . - . a si Tud a 1 'uflv-. ll "je w.' At the annual meein.!; e. runnein- 1033 tiH7 vvealtli IMlNen rVmipnnj theni will bi 10 'J- id en STIi,inltte-i te itiMhhelders n resolution i". o'uti'te i,-,.5e adopted by direeteiH te Increase the eiipitnl bteek f 1 0111 SOy.000,000 te SSO,- OOO.Oiw. Tetnl. 121 Min. mmpared with l,l40,teu yeaterdn. Tliu fur this flt, (S.rifiN.SSV Fewer Failures This Week Ji.w lerk. J.n. 1" -K11- the second con cen anutive ' tullure dtm.lu.ii. leductlnn. ' t ecu ij'i "in 1 ,,,, 1, ,..., ,c aemu cuviaiena cr ti.e evpert trude While nuinuermK f.i in inn Ln.icu fiaita (it is tines of .?S0,4.i....li. an .tu-rca'-e of hl, ,,mt ether enceuraalntr Pha- ., ir.tul comiures with HS'.i defnulta Ut reek. r.a, (end reniri pih n.irp' wmi un ii;i inanuHn- 1021 the company reper'fd KIO.s reve- 'a the ipilnit, and alena of alew rwuverv I.i S2.0."O.O70 ever 1020. nnd net operating nullified bv different unaatlafarteiy fi.atura e00I.ib.rtv 2d -l',is '12 110.02 1IHMI l.iberv l:li D,4v "' ill!. 22 lOOOVii: .tv i''ii '2.'! HlO. Ill 6000 Viet m l'V '2:! 100. IS ,"00 I'liilu lV.ee 1-t ,ris 1IIIV. flOUO 1'hHa Klec lis leu 101 I noerhiiu uiiv'iis 102 21MI0 I'liilu r.lee tls 10P,; JIMU i n uwy .is ijv?( mark ct il. 2 "Hi r. nt 3 04 i HI l -it 0 yl'l Klncdm.i linn marl; ct M 2 3f,B 1.... irs 1....' lfiHI. KliiKdem N ,' '- 103 N way ct 8 i- N v 4U"'03 1.... H.3 ... 101 3 .. lull CKVIUVn; j... jes i -... H'lU Quwnal'a Kxt CI'U C'ln chl . Louii ct 7 Ht I'0Ul 1 e.... 111.1, 1 1'7 i .... 1)7 S "M New Or Te-c k n, , ,j, . . M.l .. .a . . .. ". -- - "- ,.vieni .ienv .. 1 03'A .raluniet & 5rcma New Or Tix t'fens Cep.M .... Mexico 0s ii-ertes m iw ... i oeiillreaaon oel'I ... I'S 'n.l.lrt.l.l l-lrt. .n.. 1 Cent'l 4a ,rrd shell .... 1 87u Harmlll IMvlde .. MININO fi3','N y Cent" Oalllecl.i Mlnletr Ili.wA Sound Indeiendent Lc-i'.d VtcNamnni ... . iMauen V'nllev .. Mether lide r't ' Natlenr.l Tin . . New Dominion . - W I 7!i 4.... loon se Amer 1' u -i 1 ... 100 Vj1 j,. . 10O4 Tennpah IWIninnt C N V 4V4"BT,N " Edlaen Cj .lonepah Dlvlde 0 ... 103V. flUa rcta l!"11"''.'?",-"1.' ' 4.... 1004 """ "r 1 HKli; I i.. in H1, 2" 21 in. M m 11 H ii". 03 17 iii' j 70 111 1 11 14 Ml 'i' 3 41 "u 31 2-1 r.i it. i't se 2,1 21 13 it en IV II , I'm no 2 A se t'4 118 0'a ll'i 70 in ,i li m 27 1) 1 41 2 4 Tn 111 2rt r.7 111 ll 80 2H 21 :i.v V4 11 fl i'-i , I 'i r't i'i Oil 2,V se lOe'j, 2. . . . 100 .". man l ... me'; New Y N II & 11-49 T.O 2... 45 Nv V N II t HAD HER STOCKINGS ON Ren Cuba 4H I'.eP Chile 'L'll I 1. !i7i4 llurt'd Ci 1 .... vlK 10 illVi I .07 1 113 UO C'' ft 3 IVu 1 .JH 3 ... 100'. ,','" ' I" l,:,l 1 .. 100', '"''"'''i Gn Ta, '' .... (,3 Hen Chile 'II - '"' . .". . ''"i i.,.. 101 1 1 101 Itep Chile M0 .,,.,,,. of S12.007 OS1 an increase of jJ.Ploel: - cUarly en, of brt.htcr rrcn,: clw '.J;a,,v S'w.iScISS'i! ,mM, ..wrejhan l- .,,.,, itev.e,- ayn l-vcr. uve, ;;. iur efhl. wu "ni'trlbullve trade r:.rrt rre c. trIRnl.lrts lnolveil f.Mieii or mnri of llnhllltlea In LIVESTOCK QUOTATIONS I'ittahurah, Jan 2H. im(lNitcirtSi nnn hpiH llteady HimvIh liiitn in heay jnrkera 1'iclit yerliyra i.n,; plp-p. lit). Tlieie nre mere than 60.U00 Mib- i .. biiBKi au ""'' '.,p , l"'"'1 r . . . . ... 'naaY. i ww " ii mi re Bruited tl.la weelf. nnd thpr. lJ..t.J. luss nap noted than n week nnj i r.ient unQ ..nu.- nv nir iMiiRiannini; ruune la pereelvfthle. It la probable thftt the (rriwer eai h lielniicc, Mbnh la ilO h per cent or the total number I.aa: wceK, the ratio of Ineol Ineel venclea fer 10000 i r mure was Oil 3 pr cent, whlle In thin .n'k of 1021 It was ti2,l ler JH 50 ip 10U nj. lamba, te-vd.-. German Bank Statement 1'riiA Uia . . . x lit .... M 'TiS ll . . . K 30 N 111 . . D.JITIJ5 (u.n flrau Infuine if C'llicnce l.llv and ? ir.Ur!?, renncctlng ItailvvnyH cellaternl trunt for' Till' JVIIT UIl!ieil J cvi-lliutl t nn .pi, i ....f.w . tnrilnv'a lilil. tl...,w. ,. u -.. ..fliclnl rnliliw wer n ilUiinrielniniim. (MM) for th and 8.10 for checks. Marks were iin- both nl nml Sallt0, hei"K l"""". Hi" thousand erdinjry bhan certain at a nominal figure of .no. The reported n clearance of 6,"00 la's for at f.I'i. atrciifilli JJ UIO UllliMI CXClMIlKeH VU1S I iew -lu,n communicated tn the etner cinstes, hut'rr!i busincsD, except in the leader-., vwis M..y ..'.:.. . only moderate. jmy the prcinlum en New- Yerk fund In KK'iiXV ... .uwtn.vui nMiij m.i iiiiiuiuui m 4.s jier -tnu. cut today. Jn New Yerk the discount "" en Canadian funds was 4a per cent. I Moderate Activity In Raw Sugar The Central Klirupenn exchanges, rw Yerii, Jkn. 2i Ilia raw auanr mar- were, iiuiinininu ,-ti, liuiciirlun .71. ket l nieiiuraieu ueiie ai:i aieuuy with Mn.l.lUH 1 .Ml .1.....I... t-l I., . ....' 1 1-nV.i.. .jiuian a.0.1, v ill ini-eiiiviuilllll i.llll, Uretk -1.42, I'eliKh .(Win, Finnish ,020n ti..t.l... no 11... .1 -1 11 Hhiires and H0,IW), eommen nix luinilieit wen' iiTeted -.v mi, t,iir.ii .....ill, v initie Austrian .03. llumturltm .ML',. - YKiTKiiD.vrs CLOaiNa fjuor.VTie.Na Bterllni Krunca IJr Uulldera . pwnand 4.2 tVj N.lNVj 4,42 30.113 Cablta , 4.23 8 10 4.41'V-i 30.71 TODAra OPKNINQ QUOTATIONa (. Mlerllnir Prunes TJrn rtitllil.r L'lMfltanil ..... 4.24 M.1NW 4 43 30.113 pii'Htfl '. i- ,jtiI t.IJj 3U 70 '!- 1,0 r.t 1 ...1.1. 1 i. rVQ 1,. .w lern ... in. !--), iiFinjiurm mm ,- .--,. ,v.. in jihuRjBiphi4 . ll2). After iirevldlnc for interest, 1 i;PViand txteilnei nnd taxes net lneome RH I Itlchmenil ... S'JO-.'Xi.". iii-nlnst .$10-1,0.. in the pre- $, ;;.;. cediiiK J -or. Ht leuln .... I Mlnneapulla A illKnntrh Ik the Londen Times an", Clty fiem Keine nvs the erlsiH In the affair san I'ranciace Reserve Banks' Discount Rates Official redlaceunt ra'en ut tlie twulve KVid er.il lleitrve jianad uru an leiiOHa, Trean. Mb Cein'l Ilkr Llll. 4"l . r. lw of ee.vl trsde condltlena tnltrn 1.. ,.. M. ndvle by thi rjennrtment of Cmninerca te InduaU-lea U) iteeit up pendlnr the April 1 I l-Tled the continued wenknaa In raw intten nml the fitainr In lOtne atnnle llnH .r it.n... I pupil. Interil eelil v"niher. with r.perta Berlin. Jan 2H Thn rtiitenn nt of Ihe Im- nf damar In the i all'umla eltrua fruit belt rcrlul IlanK of CJininn, n jf Jrttiuiry 23, rumera of r.w rllk nrlce weaknea In .fauan I shown thu follewlns ilinmna Total coin nnd thn pr.uee threby jrli'en pealli huyeraland bullion IncnuMrt 1 ii;i.r,(.(j marka; cold 1 nf Krieda here, nnd talk of r-alatnnef. tQ (Uta decreaaed llioe murki tieanjry netea In- r.t txxtlli. mill hnnds In New Kimln.,.1 ,.,J.iaF.i 1.2li7.tiiVi.0iin imtia of eiliir i,,,i. u 1 all bad an Influence upon neaallda bujera'. linen ni I 020.0 111 I il'a dim eunlid decnuaed r. if.ft ' 44 1.... lUOVil-5;-." -A ! II Culm tin '01 ". " fJ e ,', 10 frtVj '? 40U -'. nep'c nf Uru- ' 4a'i I J RtM Ilia a--D . ' "'F,.TW I)e Sul Si 1 00 Relne Davles Vlns Disputed Point In Evidence Xcvv yerli, Jan. 2S. Mil" KlnJ Dnvies, nctreSH, plulntltT In a .-S.-OO.OOO neclilent null nsuinst the Mrlnrellit Ledge Assoclnlleii and Hliue Silvcrinen, puhllsher, jcmIitiIiiv t-iicceeded In olr elr M'ttlug testlineny that when her auto- l,ll vim Inte a tndle.v car en the luSC'X-Veri.'wata.iilKlit of Deeemher 21. 1020, Mie was vvlthnul MieeN or fun-i.unin. Detective 'frank .1. 1'lcWtl, of the Vestchei-ter iivenue .stnllen, (entiried Mla Ilnvlea hIioeh and aleckingu were removed h it pnllee inntrun after . ... - ..... . .. luei. "" )' fd; 'vy iijs i 44', l lil.' 3 mi. N Y Tule'e '41 102'i 10214 V.'-T' L.I... 11 liei.n enerleil le thn wtlltiell leiiv? limtL' from the iiei'ld-nt. The nrcvienb Statu of Sae Paule ct R"i e.... 101 r..... 101 1.... 1Q1 1.... ICO'. 1 ... 100 0 . . 100V, ...- ..w... , .LI., Nimla pupur aectpt. t'j l"-i 4VJ 4'a -ueriain u i int-.' iron rei.erta in ih.n ijl'..im'uh mnniniii nw eaaeti ii.7Ni.iiii(i Haat. Seuth and Par W'eit hav !,., li vesttnenta detri aad Otil linu. ether aecurl. u .H.v.,1.. alm.l r,nnrl, -u t .nltAA.i .J' 1,1... .!,.., .ntiil 1 J. It lf.il I nil i.rtfuu Ir. .... no l"Mer nnd a allaht ijuletlnjr emr, .,. Iculutten iVcriaeed 7n 3,11 due deiieslta il. li .i"TU "1 innuirv i n T.ri- rnin v-nin evir ereaaeu -..n i... ...i iiwiit iiiuii ni(. iie- Li ,k. Vnptliein hr'f et the eeui - ,,. a .. r r,.nK.l mi. 5.13 0HU letlil uld hehllnirii. iiii-. . .......... ....nl.il ... '. 1 lit.. ,,.., r.rwl 1..I..V.. and I'orte llice nt A H7e . I. f Uma Frarrn.whenr,8VTJ, HnnM Itallana Ol Kconte will be freluln. and 10 000 binca fur prompt ahlp- reached teduy. It is belleveil iu most inent at 2 1-lOc. ietand frelsht. Impertu- .,i.,,i-u .i,, ,lu,uileli nilila thnt him'i tlena Included 43.000 ban fuhaa. eenalKned 'Irclen, tlie illipnbcn nmin, lillll enn.t tn thu Warner hUBur Ueflnlnu rempany. I Will be able te PaV 80 per cent of itrt WWT:VTil,Tt'n ,"9 imbllltlw Immediately nnd the remain- 1 der nt u latir period. Prices Improve en Paris Bourse BAR SILVER .-.'ilitt.'.ltrwaa: HufUktW I l'urla. Jm. illeurae teda 28. -rrlcii impreied nn inrte per cent rentca, r ........ it rntlnieu. axehanffa nn T.rinrlnn ai 1 enn aiuycn fra J 73 ctillmtai 3 Vfr.ant llan. he franca U a nuieer in jenueu tedjy, I ue iImii i"'. '""r "u ijueiea at iu iratiVa lnj iiUm Dies After Her 60th Wedding Day Edgevvater Park, X. J,, Jan. 28. Mm. Annie Scott Prazier, wife of Levi D. Frazler, died nt her home here late i , lout night of heart trouble, Mm, Frn- A nrcfcrrctl xtockhehlers committee xlir wuh eluhty-three years old and had of Wnvhlncten-Iilnhu Water, L'cht nnd. been nctlve In church and grange work I'ewer Cmipany hnH been formed te until her present illnria. My. nnd Mm, Bafegiianl holders of this clasa of oteck ' Frntier recently celebrated tlielr elx Uuriuc possible rcon:ar,lzatleu cf coin- Ueth wedding annlvcrEary, hMtti...l wer.ther at the Hnuth ba trtvrv effect" In different .ectimi In the IsYirth ard Nc-thweit verv lay l mneratmea nav unnuoaiieiiai.iy "ini uewn jurat trade which la partly effiet by better buy In in cltlee of winter aoeda and of coal .i.irh lntter demand le, Iioiveim- i. .... luruel" Htlnr,1 from nrriunuluteil Herlia of (bin fuel I nllh.UBh leadlmji r.t n.lin. heJ Crew's Condition "Just Fine" Plttsbureli, Jan. 28. Sennter Crew's condition laet night was "Just line," nccerdlng te bin nurse nt tlie Mercy Hospital. A report received In a dispatch Kent here thnt he hnd a re lniiHa vveh called absurd. Iln In -r,,.,. Idly recalnlnj; hl health, It wan stated t)uUMULet na" net l)CCn decided when tu iuv ivupitai, i. ,,.. I ml con. 'Ul. tow. De ml Issue by Great Northern Wuhlm:tnli, Jm ?8 Authority win BTanted Ihu llre.it 'Miithern Uallread today bj thu lnteMttttv I'liiimiHi n (,'emnjUaluji te Ihmie nnd Mil i.l() oiie.ono In OVj per cent tl.lrtv-jtnr iul'1 bende fur the nurpeue of iiayiiiK tn, cAi.tu.H .u.ii'uir.ijii ? , una naa nj, te t fin Hill. en lie line. The read pre- .peaea t.i u' ll.'i.l'Oil.lMHi te puy off a lean inndi t It b thi (luvcriinrnl i7,(i00,i)im ter nuniliena an,) in iterinnta I4,0no,(ine fur J en eiiulpinent arid J3 f(lO.OOi) te re deem Mlnncupella Union HUtlen bunds new muturlmc. The Uaue vv ill be told at OtlKi. DIVIDENDS DECLARED Wahl f'en.Dany riuarterly $1.00 en com cem com rren pavabla April 1 te Meck of necid March 23. I'h'laUelphla Ceinpany, aeml-annuiil tt.is Jn ft.per-,'1"t. Pfeferred. payable March l us rtvlatcraA 1 ebruitry-lU. ... 10Ki 1 . V)f, D de Kenpfurs J'nur 7H, 1 1 ... 1031k 1... 1031'. Dill Light il, S 101, Erie Oenl l.t..n 1 11 rii.k Rub'r Ce 8a rets 1.... I 1 40 10.4 1U.V, Uncle) 102, 4 .. l(i ' i(nn y w c t- una; 4 n 2 .11V, 1 .... 33 f" .11 .. 33 2 33 r. .. m4l North Western I02'.j teiuieiiy, denied by Mls navies, was 10-'- 'that she wan without alines or ulecklnjl i02iJ,Nvllt'" 1,k: U11, 102 14 1 10 J SKltr.'d Cen -a 1.. . 113 . . 11.H. 1 .nA 1 Tl.ti n. ... U K Ort Brit : - , '",. s va 1022 a...., .,- , ,,,:.': 1 ... 103'. J ... 107' 3. 1.. 100 V, , 100' ION MEXICO DENIES WAR RUMOR Officiala Says Talk of Guatemalan Conflict Is Ridiculous Mc!cn City, Jan. 2S.- 1 Bv A. V. Humors of war between Mexico ana Ciiuteniuln are dcf-crlhed -bv a liii.'' Mexienn eillcial hh "Urn rldieuleitrt te deny." Heini-efficiiil Kturces were posi tive iu (lenvini; the veperN. LuIh ('nballere. MeIcttn minlMcr '" fJliatemala, requetul 11 leave of absence bcveral inenths rnje, and it H Mated Unit if he decides 10 return te Mexico at thia time it will be for thnt reason, ami net becauec of any atrnluid relntietul between the two eoiintriea. PROVINCE OF ALBERTA, CANADA 25-YEAR NON-CALLABLE 5V2 GOLD BONDS Due January 1, 1047 Price 99 and Interest, te net ever 5.50. Principal and Interest payable in New Yerk. Dillen, Read & Ce, Bosten 1421 Chestnut St. Philadelphia New Yerk Chicago H,,
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