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EVENING PUBLIC LEDGER-PHILADELPHIA, WEDNESDAY, FEBRUARY ' 1, 1922
m
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itfj&f
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iff.-
ixl flLHSfiQ J?
ll POOLS WED UP
By t.
IT'trTi--.
Pennsylvania R.R.
Equipment Trust 6
Geld Certificates
Due January 15, 10S4
Itsutd under Philadelphia Plan
We own and offer these
equipment trust certifi
cates, subject te prier sale
or change in price, at
lOOli and Interest
Te yield 5.53 cc
TheNatienal City Company
Philadelphia 1417 Chestnut St.
Atlantic City Chalfentc Bleck
1225 Boardwalk
THEIR SPECIALTIES
! NEW YORK STOCK EXCHANGE TRANSACTIONS FURTHER ADVANCE
.
Tmtnv'n Net file-. Teilny 8 is" ... -- -(IIIAIT
T.r,itf Cln-e Ch. Sulci Inf ltlali Iew rime Chse. llll I 1 1 ll'l I
n KAriu iivhiieii
General List Continued te Drift i
With Same Monotonous
Indecision
A Leng Recerd of
Substantial Earnings
is always considered one ei
the best reasons for confi
dence in the securities of a
corporation. Havana Elec
tric Railway Light & Power
Ce., since its incorporation
in New Jersey in 1912, has
established a reputation for
consistent earning power
which can be duplicated by
but few public utility cor
porations. Recent earnings statement
indicates total interest
charges earned about Sy3
times.
We offer secured notes of
this company at a price
Te yield &yA
Write for Circular
Hemphill, Noyes C& Ce.
Member! New Yerk Stock Etchtnge
Franklin Bk. Bldg., Philadelphia
New Yerk Bosten ScTanten
Buffalo Albany Syricue Baltimore
.'
m
Hr
that is,
o'phetojrr
' usual.
own fe
And tl
' geed or
nre?
leers,.
wheV
".ma
,tM
lh
ai:
t
en:
Hi
th
M
Mi
tit!
ar
for.
Our
February List
of investment sugges
tions contains ever 16S
issues of high-grade
bends carefully select
ed te meet the indi
vidual requirements of
conservative investors
and institutions
Yielding 4 te 8
Ask for Circular F-ll
Harris, Ferbes & Ce
Pine St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
WidcncrBldg.
Telephone Spruce 7040
Arft
?
tee
Ma
tel(
the
.fl
tfMW
fact
as:
The Bend Market
Its course during the next
few months is of consider
able interest te investors.
This subject, with its sev
eral possibilities, is inter
estiriRly (lis tisserl in our
current Weekly Review.
The ame intelligent and
impartial v i c w which
charaL-teriea Meedy's Loi Lei
ters in general and inal-es
them se alualilc te in
vestors and investment
houses alike is also evi
dent in the discussion of
thi:. subject.
A limited mauler of 7u lie
view In available, rutis. te
these IntrriateU retutstlng
Letter .Ne. J').
MOODY'S INVESTORS SERVICE
JOHN .MOODY President
1124 Real Eitate Truit Bldg.,
Phila., P..
Nevr Terlt Hi t n f'h aeu
New Yerk, I-Yb. 1. There wa no
fseiitial change In chnracter of the
tradlnR In today's stock market from
that of yesterday or Monday. Mutters
generally run upon about the same lines
with n tilmllar mpanliiifb's drift which
iw broken nt different IntfrvnlH by thi'1
confident marking up of a few appclnl
tics by tin' peel manager. The denllnRs ,
were of the same dull and sluggish type
nnd almost exclusively cenlim-d te the
professional traders.
On or two favorable Items of new!
came te hand which just about offset ;
some of the unfavorable condition.
i This included the prompt pnsage of the I
, foreign debt refunding bill nnd the re- j
1 j'-ctlen of a rider rurrying the soldier j
' bonus previsions. The satNfnefnr.v set
I tlement of the nffnlrs of u large C'hlenge I
bend house, which had been n cause of
I considerable uneasiness, was another'
helpful influence. On the ether side of '
the fence wns the announcement of
further drastic price cut- by the ante- '
mobile maker and the United State
Steel Corporation st.-itement tar the
I fourth qunrter of lnt year. This showed !
, it perpendicular full of nearly 50 per
rent In earnings from October te Ue-
Jcember, and were iqual te about -1 i
I cents a share en the roinmen stock, '
I against $1..'S in the third quarter audi
, $1.90 in the last qunrter of lil'JO. The ,
earnings for the full twelve mouths were ,
equal te about .$2.-1 en the common, '
as compared with $10.C In 1020. The i
sharp falling off of earnings In Decern- ,
I her naturally lends te the conclusion
) that January and February will be ns I
i bad, nrebablv worse, iutlirlni? frrmi lm i
advices from the steel industry.
With the declaration of the rular
nunrterly dividend by the I nilcd States
Steel directors coupled with the usual I
distributions by Studebaker and Cen-1
selidated (Jus, the unpleasant conditions
in both the steel iinfl meter Industrli's '
were overlooked. In all events that
seemed te be the attitude of the peels
and ether speculative cliques, and as
tney are running things ju-t nt the me-
I ment pretty well te suit themselves,
the market was judged accordingly.
I The foreign exchange market attracted
attention becHii of the continued ad
vance in sterling, francs nnd lire. Ster
ling cables en Londen advanced during
'the day te the highest Unci reached
since 1!10, and a gain of ever 7."c te
the pound sterllns dnre. the movement
started hi-r September. It was com
mented en that the movements of ster
ling since the beginning of the week
,hate beu directed by New Yerk ami
net by Londen. Call menej, which hn
, bepn In a condition of comparative
stringency for some time, was tight
ngain, advancing from ." per cent te 0
per cent, with the urgent demand at
tributed te the calling 'n of leans te
meet requlreen:nt.s connected with the
Mib-erintien for the $400,000,000 United
States Treasury notes.
I Stocks recently responsive te con
centrated buying were nipiln bid up
materially at the outset, apparently for
the puri'o-e te create bullish sentiment.
The well-known issues .tried only u
trifle from yesterday's closing, nnd n
few lenders, such as Crucible Steel.
I'.ethlchrm Steel. Studeb.il.er and New
Virls Central, were off sllshtly. On the.
ether bun I, Kresgp adwnued " points;'
In IT States Steel. i:. ; Manhattan Lie. I
Mited. ; Lerillaid Tob.icfe. I',; ,n- !
tienal Lead Mid Texas and I'lieliie. 1
I'eint. and I'nien I'ai'ltle, Mexican IV-
truleiini, Central Leather, American Ice i
ii nd American Can, '. te ?i. j
1'ermer favorites were almost entirely
uered in the further udvance of spe
.nlties during the morning. American I
l'e. Oulf States Steel. Uutterlck. I
re.ge. Kajser, Remington Type
writer and Klectrlc Storage Itattery
.ere 'he outstanding features at gains
f tn !!'. points. Uavisiin ('liepiical.
'ii'vns tiulf Sulphur and Industrial
leehiil averaged ene-inint gains.
I ninn I'arlfie and Te.vns I'aeltic iei
1 and 1! points respective!), but Can
dun 1'acitif was reactienar). Mai
order and Chain Stun- shares wvn
heavy. Sears Ueebuck losing U points.
Marking up of the call money tale te
ili per cent cm ted some selling of the
usual leaders in the earlv nart 'f tin
I afternoon. (iulf States Steel reacted
1 4 pnint-4 and 1'ierce Arrew preferred
dropped 'f Selected peel shaies,
heweer, moved steadil) upwanl, the
, leathers, Ceca Cela and Cenerul
Asphalt rising 1 te .'? points.
i Then- wa.s net much change in the
later dealings, although ndiances in such
specialties ,u American Ice. American
Veol"ii, i he copper slmres and tractions
contributing te the tuner tone of the
market in the tinul hour.
Dlv.
Hifi in J
tee ..
100
100
:en
300
isoe
lee
47;e
400
200
400
400
ion
0500
.100
'.'1)0
eflrt
100
res
1700
line
enja
tee
400
con
100
;no
liOO
.100
1400
'.'flO
410
ISOO
3! 900
3100
3S10
tee
?no
ion
3100
a?j
tee
tee
voe
3330
100
400
joe
100
ioe
nun
Adams Kxprcss 83
, . Adnnee ltumely .... 11 W
4 Air neiluctlen 0
. A Jax Rubber 1 J Ji
. . AlAska Juneau O M.. H
4 Allied Cltcm ft Dye... 8
T Allied Chem & Dye pfl03H
4 Alli,.Chalmers 44V4
7 Altls-Chalmem pf . . . 00i
. Atn Agrle Chem S3
. Am Agrlc Chem pf... 7
. Am tiesch Magneto.. R4'5
4 Am U Shee Prlynew.. 87 H
Am Can U'U
7 Atn Can pf 8
. Am Chlcle Vn
. Am Cotten Oil 20'i
. Am Cotten Oil pf 43
Am Ilxpress 137W
. Am Hide & leather.. 14$
. Am Hide & Leather pf nn
1 Am Ice 00
i Am Iea pf 74 H
. Am Internat Cern.... 40Vj
1 Am-La Krance Eng.. 0'i
.. jm L,inseca aij
Am Locomotive lOSi
.. Am Safety Razor.... 35
. . Am Ship & Cem Ti
.. Am Smelt 40j;
T Am Smelt pf HJ4
3 Am Steel Foundries. . 31
. . Am Sugar Ref H
7 Am Sugar Ref pf !M?i
.. Am Sumatra 30 i
0 Am Tel & Tel 117J'a
e Am Tobacco nf new.. 100
12 Am Tobacco R 13071
7 Am Wnterwks 7 pf. 75
7 Am Woolen S3
7 Am Woolen pf 104
. . Am Writing Paper pf. 37J
. . Am Z'nc Ieatl Smlt 13
.. Am Zinc Lead A S pf 37
.. Anacendt Copper .... Jh!
. Asets Realization ... Hi
4 Aase Dry Goods J3Ji
0 Atrh Tep He Santa Ve. 05J3
.. Atlantic tYnlt
.. All Gulf & W I S S.
. . Atl Gulf ft W l S S nf 19
300 2.30 Atlantic Pet 32',4
0 . Austin Nicholas .... tU
100 7 Austin N'lelinli Tnn nt 77 tl
7 Baldwin Locomotive . 9.VS
. . Baltimore & Ohie
. Barnsdale Class n. .. .
7 Harnett Leather pf . . .
. Ilatepilns Mining . . .
S liethlehem Steel B....
.. Jlrltlsh Km Steel
.. Iirklyn Rapid Transit
.. Urit Hm Steel l3t pf..
. . lirlt Cm Steel :d pf. .
. . Hrklvn R T ctfs of dep
. . nrewn Shee
. . Hums Br-js A
. . Hu-ns RreM n
7 Huh Term pf
. . Hutte Copper Zinc. .
. . Rut'e & Superior Cep
.. Rutterick
. . Cadde Central O & R.
. fnl Zinc & Lead
e Cillfernla Packing ...
.. California Petroleum
10 Canadian Pacific . . .
.. rare J I
. . Central Leather
. . Central Leather pf . . .
. . Corre-de-Pasoo
U ("lvindler Meters
. . Ch cape & Alten
.. Chlcige Alten pf...
.. f'bl & K 111 (new)...
.. e-hlc.iKe & -.l West..
.. Chi Mil & St P
. . Chi Mil & St V pf
5 Clij & Northwestern..
4 Chicago Pneu Teel. . . ,
. . Chi R I ft Pac
0 Chi R I & Pac C pf.
7 Chi R I & Pac 7 pf.
. . Chile Copper
. . Chlne Copper
4 Coca-Cela
.. Colerado Fuel & Iren.
0 t'elum Gas & ICIec...
. . Celum Uraphopliene .
. . Cel Grapliophenn pf . .
4 C'epiput Tali RoLerils
7 Consolidated e'lffir pf.
7 C onselldateel Gas ....
.. Consolidated Textiles.
. . Continental (an
S Cern Products Ref
SO.Cesden & Ce . . ..
4 Crucible Steel ....
7 Crucible Steel pf. . .
.. Cubn Am Suprar. .
Cuban ratio Swrar.
Robereid Ce. 8s, 1936
PhiU.Ce.5s, 1949
PhUa. Ce. 5s, 1951
Lemiville & Jeff. Br. 4s, 1945
N.Y.Penna.&OM'as, 1935
Uaited Fuel Gas 6s, 1936
Wayne Ceal 6s, 1937
Sibarban Gas of Phila. 5s, 1952
Empire Refining 6s, 1927
CaeVn Cent. 0. & Ref. 6s, 1930
DUNHAM (g
W Investment Securitks
it Exchange Place, New Yerk
Telcphania SJiiu-lii Jlanever
Commodity Markets
GRAIN MARKET
Chicago, l'eb. L ft looked as it th
hulls in wheat were losing heart today. I
Seme of the strerg bull interests were
selling and exploring bearish opinions.!
"IV buying power in teduy's market
was again in evidence en the breaks,
hut Inning ineenthci early were few.1
The slew milling demand and ea-ie-J
each prices in meit ninri;ets wen de-i
pressing factors. Shipping sales werel
."(MM I bushels.
The corn market wts steah , bu.wng
support was geed, but the bu)lng'er-
ders failed te fellow the advance. Of- '
ferincs were llsthter. Demestic s,j,,. .
plllg Wile-, were 1.(1, IMMI blsu.s. I.xpert
bids were close te a working basis.
The outs maiket wns eu-irr with
wheat. A little pressure of Ions eats
was experienced. Shipping sales were
l.'f.l.OOO bushels.
Own HUh l,e'. novo
. 1 111 1.10'., 1 S i, 1.1'iV,
. 1 051-j l.n.V,' i 03 1 e:
lr.ne
2jn
3110
tee
100
1S11
tee
1100
100
300
400
300
400
200
100
100
3000
3.7.10
300
700
tne
m
2031
100
1110
II00
2)0
3S0O
1100
COO
40(1
100
810
510
3)0
300
100
ioe
310
3000
1700
4300
300
8)0
1100
490
3210
100
700
3)0
330
4000
300 :
38)0
103
8)1
(DO
0)0
snoe
101
210
81)0
200
tee
3101
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70)1
100
ine
310
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tne
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000
3)1
8010
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K10
vr ioe
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as"""
K-.ioe
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flldOO
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400
303
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1610
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3 a ii
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3000
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310
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tee
3 DO
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00
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89 Ti
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41.
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. 20
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. 103'2
. 34
, CI
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. 17
. 915
Cuban Cane Sumr pf. 21 Jj
a Dal:-en Chemical .. 60;$
0 Dl Iick A Western. 112
1 Pome Mines 22 t
12 K'ectric ' nr.iRe Hat.. 144
.. r:ik Hern ( e-il 13
,. Km rsun-l)r inting ... 3
5 I.n ilcott-Jutinsen .... h)
.. Krl- ma
S Famous PI:, vers L .. 7SJj
8 K.'imeus Players L pf 02
4 l-'ederul .Mln & Smlt pf 3-A
B Fisher Hedy or Ohie pf MU
14 U
3 Hi
OO'j
144
W
00 Jx
Mil's
37'i
Mfc
IS
73?i
31!i
h
7(1
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3S'5
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18
IS?!,
3(.U
71 'r
1'-!
70
4'.
(.1)
I I
28 !i
2H
I.Jb
00
Flsk Rubber
. . Freeport Texas
.. General Asphalt
3 Gcner.il Ai-phalt pf. ..
8 General Klectrlc
.. General Meters
fl Gen Meters deb C ..
7 Ge n Moteri deb 7 ','c
. Goedrich B F
', Goedrich K F pf
. Gray Davla
7 Gn at Northern pf . .
J Great North Ore ctfs.
.. tiuaiitiinanie .-agar ..
. . Gult St'itl) Se, 1
.. Halilr.shaw Kl Cable. .
1 Hupp Motorcar
7 Uilne'H Crnir.il
. Inspiration Cen Cep..
00 Indlnbema Ri t .
.. Intel b Cen Cerp
.. Ititerb Cen Cerp pf ..
. . Internat Agrlcul
. Int Agrlcul Cerp pf
5 Int Ilnnes'cr new . . .
. . Tut Mcr .Marine
0 Int Mer Marine pf. .. .
. . Int- rn.it Motertruck .
7 Int Motoi truck 1st pf
. . Int' rnatienal N el.' 1 .
6 Internat Nick 1 pf
International l"ip- r . .
0 Inter Pap t nf a' I'd
. In', iiiclb i Od Cerp. .
. . Iren Products
.. Island oil
. . Kansiis & Uulf
S Kayser & Ce
82
11 H
30
11H
87 Vt
102H
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33
87
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87 !
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null
. ICelly-SprlnKfleltl Tire. 3?
. Kennecett Copper ... 28K
. Jewel Tea 11
. Keystone T & R 16 Ji
a Krcssra S' S 131
3 Lee Rubber Tire 37
400 3.80 Lehigh Valley 87Jj
ion 7 i' ggett & Myers nr. . .teavi
.. Leewe Ce 11 ii
1 Left Candy tt?i
. . Loesc-Wllen Biscuit . . 37
13 Lerlllnrel Tobacco ... 180
.. McTntyre P Mines
0 Mackny Cob
. . Malllnsen ft Ce
. . Manatl Sucar
Manhattan EIv guar.
3)0
3000
109
14)0
3400
100
800
1900
100
H00
300
130
100
SOO
3003
100 1.73 Manbat Shirt
300
100
1609
300
400
1300
100
33)0
330
3H
SO
19
43
48 ?
39
a?;
18
Market St Rwy...
Market Ht Rwv nf.
Market St Rwy pr pf. 40ij
.-vinrKCt Ht Rwy 2d nf.
.. Mnrlln OH
2 Martin Pnrry . . .
8 May lpt Stores..
12 Mexican Petroleum
2 Miami Copper
4I0.20 Middle States Cerp.
'linn !. . - r
3310
4000
300
3400
700
230
300
1800
tee
tee
(100
700
100
300
300
100
Mlrlvale Stee!
.. Me Kansas & Texas..
.. Me Kan & Tex pf....
.. Me Kan & Tex (wl)..
.. Me Kan & T (wl) pf.
.. Missouri Pacific
. . Me-Paclflc pf
. . Montgomery Ward . . .
7 National Dlscult pf.
7 Nat Cleak & Suit pf
0 Nat Knam & St....
a Nntlenal Lend
7 National Leatl pf . . .
. Nev Cen Ceppar. . . .
0 N O Tex A Mm
3 New Yerk Central
23JJ
. 31tf
. 10SK
.1114
. 34
. 13 Vi
tH
100 2. no New Yerk Deck..!
New Yerk N II & II.
2 .-sew Yerk Ont & W. .
8 North American ctfs.,
8 N American pf ctfs..
. North Am Class A Rts
7 Norfolk ft Western..
4 Norfolk & Western pf
7 Northern Pacific ....,
3 Nunally Ce
.. Okla Preel & Ref...
.. Orpheum Circuit
8 Otis Elevator
. . Otis Steel
3 Owens Bottling
5 Pacific Gas U Klec .
3 Pacific. Oil ,
0 Pan-Amer Petrel ...
a Pan-Amer D
2 Pennsylvania R R..
. . Penn Seaboard Steel
B Peeples Gas Chicago
. Pore Marquette
8 Pcre Marquette pf ..
3 Philadelphia Ce ....
.. Phllllps-Jenes
.80 Phillips Pet
. . Plerce-Arrew Moter .
.. PiTce-Arrew Met pf. 33
.. Pierce Oil fis;
. . Pitts & West Va 23ij
.. P-educrrs Refiners ... 2JJi
4 Pub Service of N J... 79 ii
8 Pullman 110
. Punta Alegre Suuar. . 30
5 Pure Oil 31ti
.. Pure Oil 8 100
8 R-illway Steel Spring. 08!i
.. Riy'Cen Copper 14a
4 Reading 72
2 Reading 1st pf .' 44Jj
3 Reading 2d pf 49 ti
.. Remlnttten Typewriter 33JS
.. R'plOKle Steel 39
.. Repub'lc Iren ft Steel. SI '4
2W
33
1034
. 414
. 13?t
.HAi'i
. 3&
. 37Ji
. Oil:
.113
. 14J4
. 61 Vi
. 734
. 31 iS
. 16?4
. 0ii
. 84
flii
815
74ii
77
9?i
3V5
1314
123 ii
10ii
23
04 ii
48 Ji
81 ii
4flti
34
C8J4
20
83 12
33
M0
29 ii
l'?4
iN
100 i fit Je3'-Dh Lead 13i4
100 .. St Leuis San Fran... 71 U
600 .. st Leuis San Fran pf. 30iS
310 . . St Leuis Southwest pf 33
100 .. Santa Cecilia. Kutrnr. . 2
100 . . Saxen Moter ,
100 .. Seaboard Air Line.
10300 .. Sciirs.P.eebuck
200 7 Sears-Reehuck pf . .
4)0 .. Seneca Cen Cern...
100 83 M Shell Transport
8i4
2,'i
61
9Ub
17
30
II ;
I
18
C3
2100 .. Sinclair Oil
1110 a Spilthcm Pacific ...
190 . Southern Rail
90) 4 Standard Oil of Cat
int - r.. . .. ... .... .....
"' i m.incinrei Ull or -s J pin-)
100 7 Steel Tube pf 70
200 2 Stewart Warner Speed 20';
330 .. SirembergCarb 37'i
121.1!) 7 Studebaker . .' hO'i
1330 .. Submarine Bent Cem. -til
iu .. superior Oil Cerp...
3701 . . Teinter Cern & V "A(
310 .. Tenn Cep & Chem...
3100 3 T'xas Ce
14939 . . Texas & Pacific.
13)J l Texas & Pac C & O.
113)0 2.00 T. x Pac Gulf & Sul..
3D0
7)1
39)
I))
201
10)
7-.)
10)
313
1930
493
430
100
1103
3103
30)1
310
4S)1
79)0
233
(J 3'J
110
Third Ave
0 Tobacco ProaueM
. . Tel St I. & West ctfs.
. . Tel St L & W ctfs pf
. . Tel St L & W ctfi I)
814
l!4
44
IS'i
24 Ji
43
22
(3ie
17
!'0 'A
1lt
Tel St L & W ctfs pf U 33
Tinnscen Oil
4 Transu" Wm Steel...
. . Union Oil
10 Union Pacific
4 Union Pacific pf
7 Union Tank Car pt..
.. United Alley Steel...
. . United Drug
8 United Fruit
6 United Retail Stores .
.. USC1 P & Fdy
..US Feed Products . .
..Us Iml Alcohol
..US Realty & Imp....
. U S Rubber
8 V S Rubber 1st pf
100 3.50 L S Smelt A: Ref pf. . .
11701 0 U S St el
9)0 7 U H Steel pf
1I0J 3 Utah Copper
4)0 Utah S't!
line .. Vanadium Cerp
81,1 . . Va-Car Chemical . . . .
2)0 e V.i Iren Ceal & Ceke.
Mi) . . Wubasli pf A
100 1 Weber & Hellbrener. .
400 .. We'ltel n Pacific
IUD 0 Westun Pacific pf . . .
23') 7 Western Ullle.l Tel...
tut) I Wi rft'.culieiise i; & jj.
2)) .. Wheel n & L V.
100 .. Wheeling & L K pf..
ID3 4 White Moter
IIJ.I . Whlte Oil Ceip
0 13 .. Wl'ls-0er!ar.d
3D .. Wilsen & Ce
30!) H Woeluorin F W
lJil 4 Worthliigten I'ump...
r.x-UI!diid.
i-U
32 H
IMS
127 ii
7:n,'-
1034
20
70
131 Vi
83 H
17 H
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117
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tl ,
31 Ji
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109144- 'A
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Rebound in Storage Battery
Suggested ShertsHad Been
Caught Napping
The renllnned nctirilv and strength
of l'hltntlclphiii Haplel Transit anil the
animated rebeunil In Klectrlc Steiw
Ilattrry weic the etitstnndlng features I
nt tne local marKct. i-rcaiinc in nuiim
Transit were iiEnln unusually heavy, In
cluelliiK one hleck of 1100 shares at 111.
and which carried the stock te a new
high for the last two years nt 20V4.
It was nn ever-night gain of lVj points
and represented a net gain of -v points
since the inception of the current move
ment a few days age. The movement
wnt still associated with Hie profit-
sharing plan nnneunceil en Monday
night by Mr. Mitten te the empleyes,
and the preposition of putting the stock
en a 0 per cent annual dividend basis
in July.
There wai a general reticence en the
part of both hankers and Interests fa
miliar with the local street railway situ
ation te cxrres further opinions as te
the matter and the 'netlvc. It was in
timated, however, that perhaps the mat
ter will be better understood later en,
and the majority expresseei a willing
ness te allow development take their
own course, which, they claim, would
supply the most satisfactory reply te
the rcmnrkablc preposition which Mr.
Mitten has made.
Union Ti action moved up te 30 In
sympathy with the continued advance in
Itapld Transit, but the dealings were
light. Few shares of Philadelphia
Traction changed hnnih nt W3, un
changed from the previous sale.
The animated rebound in Klectrlc
r.. .. . .me .llt.-..1
Mterngc uaitcry te iiit'l uisciuseu i j
rather scant supply of stock and thei
movement sujgestcd n concerted drive
ugalnst a sleeping short Interest. It
was reported, however, the company
had landed a large order with one of
the big automobile, concerns which N
contemplating making a big drive In the
market te Bell their cars. Most of the
gain was lest en realizing sales in the
late trading.
Dealings in the Philadelphia Kleclrie
Issues slackened te some extent. The
preferred warrants had n geed market
nt 1:!4. The preferred after opening at
-V1! yielded te 2"'. The common was
dull n shade under par. Pennsylvania
Railroad ex dividend of 50 cents a share
sold nt 33-?i. or U under last night's
closing. Hank of North America
warrants, after advancing te ."S, fell
Back te 54 but rallied again te 55.
H 1 B 1 1 1 M , t 'TnT
Relctxatien
is mere than a big open fireplace,
a cushioned chair and a pipe of
brier. Mere outward comfort is
a sham if there is uneasiness
within.
Here is a financial institution that
offers you complete banking fa
cilities, four convenient offices
and most satisfactory hours. En
trust te it your problems, the re
sulting relaxation will de y6x
geed.
Resources ever $14,000,000
Franklin Trust Ce.
Main Office: Fifteenth Stieet below Market
Delaware Ave. &. Market St. Fifty-second & Market Sti.
Germantown Ave. above Chelten Ave.
"Tht Institution That Cave Philaiilphia Day and Sight Service"
( L.--J )
P!i2
$mtsr1Eem&mMMJllWm
w-JWumu cyx
I Sip
mwmn rjp mf II
I
r-C" ,-i:m:ir;ii'i,iii pj!;i:Bi:Hi:i!fi(i:i;iii;iR:!i:Hi:Mi!iiit;;ii:rJ!nf!.inniU!i'JiLPii;'ii";niiu1in,!i!.iiti:'i!;!!t iir.'iin.i
n
li
'i
li
94
154
Ji
Vi
Philadelphia Slecks
195
94
In1
li
94 ,
1
Net
llleh Lew l-loe thKi.
lOfAllis-ainl 4.'lv:s -WTi 4.jr; t
05 Am Strs. Ml'j SO Ml V.
5 ele 1st pf.llll 310 11! ..
15 Am lias. . 5.1.:. 53's 53...-f- '
.'ilUIlankXA
war w i. u- t
TOOfOel (Jraph
-'Vt
"i ,
's
7-1v
V.
llllffl
111
:w"'i
ii
-TV.-l'j's
1II"'H
05
14'-..
:ki
iii'a
it.i'j
:;s
51
XI
i
ll'T f
r :;,
( N ' s '
(Ki'i V,
10
-l
OtCern Pre.. 101 101!,'i 101
lOOtCel fSraph
pref 8 8",8 8
20tl)av t'hem nilfc. ."!) 5lVj-f- 'A
0-5 Klec Ster 14:i4 111 1 -- 1
leir.im Play. 11 ii'N
loennter i.en ;
:i5 Lake H C VA
50 I.ch Nnv. . rt4
OtN V Cent. "3
lit Penn (lent
Light pf 40
5nnPa it K.. :'.:tTs
J.'IS Pnila Ce
nun pf. . .'!ii:'i
1177 Phila Klic 2l'i
401 de pref.. 7:!t
(1(!5 de war w i 1:)'
i5!M) P It T... 0i,4
25 1'hllu Trac 05
IDOtPirrce-Ar Ul
25P & W pf IIO
2(IOtSinclnir... 1!V,
.".(te I'n Trac. .'tl!
5:10 r ft 1 ... :jsi4
!l!l de picf .. 51 '
low .1 & s. :t:t
100 Yerk Hwy 12',-.
Railroad Terminal Bends
The importance of adequate facilities for the railroads
in the heart of a city is reflected in th.c large investment
made by them in terminal properties.
Terminal Company bends sire secured by properties, such
as passenger and freight stations, yards and tracks. The
Company is frequently owned by a group of railroads,
while the bend issues: may also Have the guarantee of the
several railroads using the terminal.
We recommend this type ,of security very highly, and
offer one of proven merit. Full information upon
request.
BATTLES & CO.
Established 1890
Independence Square (East), Philadelphia
nuiiiiUuU Miami! 11 iiiiitfiiisiiiMiiini'iiiiffliiiJiiiaiiiiiiiiiiiiiira:! umiiiii ii;!'' 'inius
fir. 1. 1 .
24V.
27 M;..
lr:. t- 's
20&
05 . .
141. 3;
III)
WM.. .
.".11 -i- -Ji
:w V
51Vs Js
:t:s '..
SALES MANAGER WANTED
Established Bend house carrying standard issues
has unusual opening for experienced man. Replies
will be regarded as confidential and must state
age, experience, religion, etc.
Bex B 124, Ledger Office
ij
1 ii
t
Va
'A
V2U 'a
Penn'ian!a r'lc
tNei ihunue ni.uk' tie comparison with last
alc cit New Yerk Stock Kxcliuncr.
l:x ilMilcn'l 101l.11 J'e
ili- iij- ee
00.21
1(0.10
00.02
110.2.-
07.10
I'II1L.I)KI.I'III. IIOMW
150 liberty 1M 4 Us '47...,
1000 Liberty 2d -I'ih '42
100 Liberty 2d 4'4 '42....
500(1 Liberty 2d 4Vjs '42...
1000 Liberty 3d 4Vis '28. . .
.')( Llbertv ltd 4'm '.s..lets 117. It)
200Llbctty ltd 4,is '2S 07.ON
0000 Liberty 4th 4, ,s '3S 00.38
50(H) Liberty 4th 4V,s '.".S OO.-IO
0 30O0O Liberty 4tli 4Vis '3H..lets 1II1..10
r? 10(1 Liberty 41h 4is '.'is.... IIO.IO
(HKi victory -)"ih
300 Victory 41,s
300011 Victory 4:l(h
1(10 Victory 4;l,s
30(10 Victory 4!,is
iimisi ictnry -'"i
H
Vt
3'
2
'23.
1
!a 1
ii
54 '
M
'23.
'23.
2000 Amer (ia- & Klec
ioe.:;
KM). 00
..lull. 100.20
100.12
KMI.2S
100.20
"if... lets 84'.
IJi
94
1III1II Amur Ciik &. Kiel- 5s S."i;-
yn)0 Itelglum 8s 1051',
1000 City K 1017 1)SL.
2000 Interstate Itnlhvie-4s. .. 45
1000 New Yerk Central iU. . . . !l!)
000 Phllu Klectiic 1st 5s 11(11,
1(H) Phila Klectrlc 1st 5 00
1000 Phlln Klcetrie 1st 5s HOT,
lOOOOPhlla i:iectilc (Is lets 101s
1000 Cultcil Hallways 5s 7!)
MIOO I'ni t I'd Railways ."s..luu 78'..
2000 Yerk Rnllwuy 5s Ml
400 Phi a I'.lectric 1st 5 IK)
3000 Phila Kleclrie 0- Iut 101
.CHICAGO BROKERAGE HOUSE
' IS GIVEN FINANCIAL HELP
of
wh'it-
Mry
J'jlv
, e'ern
'.Muy . . .
'Jul- ....
futs
M..V . ...
'Ju'v ....
IJur
Jiiy
I.arJ
.T..r. .. .
M..v . .
Itlbi,
M.i .
lul.'
,n.
..Tl
. 1 1
..10
ail
.41
.-..v
..-.1
..-1.1 ;
:ia
.10
DIVIDENDS DECLARED
in .41 1 Mfl e'emuany 'i'irirl J..J. pas
,," M.r,h 1 te bio, a ..f n-e 1 I-.lirii.irj l".
lbL. .air I fill nf Caltturtilu iu.irt.-rl.v ,11
n."!"!' Mareh 15 u ... H .f rrt K-b-
STERLING AT NEW HIGH
-Entire List
:e
-crn
M L'..fil ftll'l Ir in
tm.l f'J '" e" lreiirr'J. puuu,( i iu.
(.n.l On-'tT
Hi.cle
Is Oe li 2",
1 ..-.
1.
.-00 J, je
I'I -'.'.
!l 10
11 fl-.
1' .'T
,1. V.l'S Wl!;
I ri.i-im'int I'
z, r ll !'(
li :, 0 37
1'
nit..
eric
i-'i 'i!!! fn
Cables Touch 4.29 '8
Stronger
New Yerk. Feb. 1. The three nin
1 1 tit 1 nllli'd exidiniiRes, stirliii,;, francs
.mil In v. ic.iched new hiun iccn.d- ihis
all' lii'K'ii, the (iiiiilatl'iiis beiiiK the i),..:ni,.'r tirem
li.crcaise
SI, 0.1M, 3(111
Syndicate Cemes te Assistance
Babcock, Rushton &. Ce.
Chlcase, Teh. 1. (Itv A. P.)
Klnnticlal iibsi-timce for ilnbceck. Rush-
ten & ' e., eue of the largest stock
COTTON MARKET
New Yerk, IVb. 1. The cotton mar
ket opened much steadier today and en
first sales was 7 te 2 points IiIl-Imt r.uL.. Jun l " Jt"- uf
tlian lust night'rt pIem. Support came I
chiefly from New Orleans, wire lieuxs MONEY-LENDING RATES
iiiliaiierc iinuri'.-i, easeei
pn
ruar
J"f
fu"r .'; '.,'-. ,. .Hiiri.-ily
I",r V- . .., Mn-r'i 1 t-i xliii ri nf
' ''?. . ,.hll v i b" " 'ipt-' w -. rtelllii i
.1 U an 1 H.HWUA" i I"i n
nt .1 1 1 K Mil .iTiriH (1 3) .4'i
l1 . i - I t .tin . ,if ri .-.I
har. W-y ' """ ' ' '
mi, iiui.-terly i"4
inil l -r ' "el "i ' "i" ' '
I iiM-ci l'riiii-.shi.tlri. r. rim -u n '""' j hti I IIiik luilde ll Ili'W llllfll if cord nil til
f,uar' 'ly l-r '.!;,1 V., h ,'" Vi.- e'her'IMKnemi'nt at 1.2N 11-10 fur cables;
1 te M ' "" ,
RAILROAD EARNINGS
HOiTU.N AND MAINK
lli.'t
T!',Mr; "-T:Vi!i M'SS.:BT?;nd bend brekeraKe concerns' here, has
i rijii r Wir-ui ; li).l,.l,iti
iWfUe mniitliN' is runs
Xi't Hf.tT taxe.i .
Ni epr. (1 flnt
t HIiWle,
HILE con
servative in our
policies, we aim
te be progressive in affording
customers the most up-te-date
facilities or the prompt exe
cution of orders in the various
stock and commodity markets,
and in furnishing reliable infor
mation and impartial reports.
We have succeeded by helping
ethers te succeed.
Any investor or trader
U'e would like te receive
our market bulletins for a
limited period may have
them without obligation
by sending in thi card
with his name and address.
RASMUSSEN&CO.
MEMBERS
CHICAGO HOARD OF THADH
N.Y. PRODUCE ICXCIIAN'U:
NEW YORK CURB MARKET
STOCKS - DONDS - CHAIN
111 Broadway Naw Yerk
"""" rf' I-1"-' -"' II 8 " .
n.as',1 -rie s.i.iil'. dii.i
1.7SH..12S li.ll.C, 4l"l
1 till, 770 '111 ,11(1. till
111 Kl.l.NtlTUN' ANli ejl-l.Ni'V
uui
hlKl.i'-t. i r It the evcplinii of tunics.
in ii.'iirlt a car and a half. Slcrlihu
we- iiinin ai 1.211's fn,' culih's and
I --' fur dt'iiiaiid. Kr.iin' clilc w.'ic
...'t7. eliicls s. !',!; lire tables 1,71'j
ir. ff'rnl , nml i liceit, 1.70.
Simnlj nftcr the end of the first hour,
ji- Ulrijiit
w. ,. iri'inilii' .-in--Ni't
uii.r. Inc. in..
1)P' ll l.i-C
i,t,:n.i.,-,si ji mi.i.a'i
.',0'in sill! iiiii,4sii
I'lH.ilia .1311 lii.n7 -j -ii
L's.il II..1SS L'i),2uni-6i
('i,m
. ..i.i
n.l II... r, lirtr i III"' UK 111 III l.-n 11 -Jll jur l-jllllt's. ir-
ni Juu. 7. iiiaiid was quoted at -I.2S',. The
strength nf sterliiiK syinnatheticnlly nf
ffcicd tin rct of the Allied exchanges.
Iran. . utiles were quoted at S.IJl'i anil
BUTTER, EGGS AND CHEESE
i. v? Y'ir,k;,.I,'vl ' "iTrim i-nsftici
li f 'liitt. ll.fi e ! tuba, ('reiunciy. I.Uhcrtliin
ixliim, ,'lli'fi T.iVjt I'lriiiiier', n i r.if . U"
.''re.. Iiifjasijc ilrms. sx iu Hi huih, y:j
" KOUH -- Weak. U'rflPtH, "7 Vin (,
rrenli KHthrrr.l, extra Hmis. IHMSi . ilrft
3SfH0c. nmrby nii'l nt.irliv Weiu-rn henneri'
whll" fl. r I x te HMrim ilfffii!.-i ei'inliy nml
ILfirby Wmlfrn hennny lirewnn, ixtriis, 1.1
tl.. ir.l"! K,,llr,- l'i,t.jN Illll
iliuna been pievidcd hj a syndicate of stock
cM-liiiiiRi' lieuies, it was uniiiniiiivil to
day. Tin. action wns iipprecd by the
New Yiuk .Stock IIm'Iuuij.'c, It Is tin tin tin
dcrsloed. .
The syndicate will take ever n lnrge
portion )f the linn's im ns-sct?, the
aiuieiiiicciiii'iit m'ul. and pay in nheul
S 100,0110. Addil'iiiiul new inniici ml
Inte tlic linn, chiilly hj laigc eusteiiiers,
will brine the total te nunc tliun .'JI,
000,000, it wns said.
It was unilci steed tlic.e ailvauccs
were net te constitute liabilities nf the
linn. The amount of business en the
firm's books is said te lime been re
duced from 11.000,000 te about $,-
IHM.IJUU.
a. PAilON & CO.
MJ A CIII-.MNtT sTa.
BAlNKERS
MirtruHeri te
8AI1.KK X STI.VKNSO.V
mid Ntlll kflMks li'lHUllt II till Mid.
"Wmr. 1'hll (iirle Frhane
LVriTrh of cables fr,m It ..,, M11V VOBK-M'V ffi '"-. rV-nt S "s at N.M! I lire cubes !.( Ml. 'eVh Int. te trUs -I0 le . re r' p "it. , " 'lUcstlen (it tlic liru s M.Uenc.v
streiBth of enbles fnm I. veipe.il. ief ,.,iutri "1 tt.luv it - i' r e, nt '",,, .,.,. j. ,,.... k ' '' w-as ralsci by t he nvest cut nt; cnmuilt.
wh ci lpnectrd a better elemand ler t helen.lln'e .iii'l ri.n1i.-. Kt . .' nlurKh' ''-' Clinilst: -niea-lv Uereli,tit, 77M l.u,i. t.H. (if hankers ami stuck i.ehanii. mi in.
wi;;1 rau& a,i"t"cf:;,c; 'S' lB;fi w-.. Lwt.i?"'; m: -a.?w--'- tX:tir:Ar
icrarr.L!:iu',h,''r-Tt "--"" V:iT::;rr,:h.J!!;!;;,,-7;!A,,s bank clear.ngs "utB,,t- ch
1 ,is .1 tl,- -...Is tl -Ien h I ,u ."'l u,.'1m!..!"1 " '. ' ' -I. IM PMlsl, .(WW, Klm.Mi 2.(11 ; Ails. , rur.li ' - .r.n, vM ...nP4rr.l iMu, cer- Charters Filed
..,!..,.,. 7(" li iml. s. cm, ,, !dV I. . "irl.ii. .'s lluiismlnn .l.'.. T..i-.n.i...B .1- is. .- w,- ,w,r ,,..,. , , , t'i,;r,,:, , n,,,. , ., .
' i7ii Iiiit. a wed. n aid ir.,s:u i-Jiii-xni:!.!" .,-;;,.-. r-' ; ;,;;;,, Tl,. i ,. X Ve.l. funds m ;i -! ...h....... m m :i. ijp.j.n.v..! ",'. "',7. cvan t'j -,i"':'u ir'n'.. Vi'.":
bale l..s. i ..,-. ,',; ' ' t.M i'c v. ..-".,'. '..' Mmiii-cIiI , v wns ! ,,'. ecu. Th- ls01lV" RKV, ,',?. aii'il,, ..,.,ir.,S'.i 'J'.f " ,, ""''ii' ru.T !!
i (.,,. i.,.. en.,, . t ' dlscniiit 'anndian liinds in N.n il,i..,e us .m.ii'i ii.i.tiiu.r.se li" "l i.islm ;r Cu iulr - . x Y..r ,...,
!,n,. . ""ll ;;; li.'ll i.iMinV Hum i 'i 'nl ..( ."4 i-ii-i' i in li as um cicd Id ! ii-Hi per cent
I .,i i'i i Ml .,' IU Hi ..,' ... .... ul...,i l.i, !m 1.. i r 1,11' ii.... c..nM M..bA, A.AI..-
. . i .-.mi it- ii i i !"" " .".. .,..,.. v ...: ....
1 A" .,.., ... .141 is .is .:" '" '""" '"'-'""
aw, I 'i , .-iiit't'f . l.i.i ij.iij
Hid.
We Offer
St. Leuis-San Francisce
Railway Ce.
6 Equip. Trust Ctfs.
Due Jan. l.", li)23-19a."i
Te yield from 5.50 te 5.75Ve
Particulars en Application
A. B. Leach & Ce., Inc.
Investment Securities
115 Seulh Fourth St.
tSfcckwell
JiL . -T""" " ""
'Tl-i.-'
..fyf IK--B -
CERTIFIED PUUJCl
ACCOUNTANTS
NEW YORK COFFEE MARKET
'81
Yl..sl.UiY'K .Cl.OflI.NO QL'OTATtdNrt
Hlerllm; Tranrs I.lre (iullilerK
I ,,-.. IVnmi... .'J1 S.'JU'j 1..17H an S.I
'Mldvale Shewe Deficit for Quarter .cuiiien . -n s.si iis au ei
TUH.M Ul'KNlMI Ul HIATIU.NM
Stfrllnu Krene Ure aulldcrs
UWTilIeBIJf,fWt.l
Marcn .
fMsy ,,.........
July
Jhrpleinlivr .,..,....
j Iircrnibcr .........
Tt. clese
, S.40fr30
.?''fil
nn
Onrn.
n.l
MldVdln Sleel for thf funrter enOc.1 Detem-
w,- :il ahews a aelii'tu ener iiwxi cnnrKtii
(Bnd I'edrl tHjei. nt ll.37H.7Sf', BfnlnBt a
W.n
H.-JV
l.0HtS3 reflclt of t.B.13'J lh Jireredlnit lur,r
.3744lan. a ret prent of is.v.-iii.i.i in iny jrcm
S,3aTjr lOiO nuarter. Cempiireit with thi M8W.I
III Mr all taxen, hewa aidecllne of H,04U,7
H.I. 0(1
30.03
Demand .... -I,27V1 s.ae 4.M1M
CaLieu i..iu ".! 4,u'i
NOUN qUOTATlONB
KterllnirTr.inc I.lre flulldcra
Demand .... 4.2 .S4j4 I.B7, .,,.
Cable ...... .2Hh- 8.33 H 4.07 ',4 .....
.Nrw Yerk, leli 1. lensldrralile ifllvlu
ilr-M-lepe-.l In tlie ran surur market M'tcr
day mle of Culn for rHiru.ir..M,irc'i
shipment talnK ntlmiiterl nt l.a.oeo i.nya at
J'.t t'nta, cot uml frelsht, Itellners and
nprraters wero th' . buer. In addition,
aoeo riHm Han Domlnrees afloat were aeld
te n Canadian refiner ut SK cent, c. I, f.
Riuufu iiuu urns
lniportutlena
Imp
Cubi
yeetenluy
pany. The loeal fanned TtnarKet waa un
Included
Cubaa'te the. National Hurar Rednln Cem,
chaiued nt 3O0.10 cnu,' lf li per cent for
imliili 1, in 11 s S-.in ri .1
. 1 1 . 111 ,.1 'ru.-iui 1 mi, 1 ...
M. i.U(c M U. Il- i 1,
4li. I l' I" 1 ' Kill t,k ..,
eiiu, M.ri ry i'jr iin-iiirs.
mii'' SirM"
tl 1 nil 1 1111
l'.irs i. Uii
In. 51. .nn',
H. ll.ltl.'II At
U.I 1 Wlllllllulull. KintiirA VI...R ...
y,.n1!!.,!r.!.: (',v 1.",c ."'"I'uf'.nure.flwir tiu,
Jehn T. McUnvrrn. New Yerk, """.
BR 8ILVER
-Dornatle bar 'silver wiut'uncliarured i
Nw Yerk te. ay at Wlrp iuSfe: fDK
a-,tf-T-iP?B!aJS V V lC prltt
We Specialise in
Pennsylvania
Municipal Issues
Biddle,& Henry
104.SOUTfcl FIFTH ST.
; ?.! .
De Yen Ever
Slop te Think
hew much time you waste
by following un old habit
and (,'einjr out of your way
te accomplish un act that
m i k h t be us r e u d i 1 y
uchii'vcd in half the time
nnd half the exertion.
This would apply iiim
fcctly le these people who
have bank accounts ami
.Me ix'Riilai' commuters 011
tht' Pfiirihylvanlu Itnilreud.
It i.1 only a matter of about
ffventy-twe utep from
lii'eiid Street Static n te the
inside of e u r bui'tlink'.
where you can be accom
modated mid treated in a
friendly way.
We would very much
Iil:e te Imve you ceme in te
tee us.
TMFd
National Bank
; li.v ('ruler of Tlii'igs ,
Oppusilf I5re,i( Sireel iUatiea
Oruutlivd 1S63
NEWBURGER,
HENDERSON & LOI
Members, Ne.w Yerk end, M
Philadelphia Sleck Escchangm
4
w,
. Ttit kB-BBBf-BB
14m Chestnut St.
kM
m
wy
'nl '' i
nU , . MJL
," ..TV-i.
IW A jwfifSc .- f . , .. . f nA fa .JiJ.&l
1 - r '- .. 1 -V
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