1
BK&S
;xr
',
l V-Tl ?
.- u
.?V
V "
v
1 1?
Department
of the Seine
W Few External U
Km-cnlUble for 10 yesrs
I? nnrVnf ef I1
'"e hv f"p the rreat
t cf trie ft9.Dpnrtmtntii
( er F-pc In rel-t of
wealth and nor-'itatlen.
remsH.lnr tne City of
Paris mil it reatdent'al
and Industrial suburbs.
Price yi'Wnq about
745
"Hie NationintvPemnnnv
"htiadslahla 1417 Chestnut St.
Atlantic City Chalfonte Bleck
t
E91
I1
'. T'
i J
11 . Wasiat.
Our
February List
of Investment sugges
tions contains ever 165
issues of high-grade
bends carefully select
ed te meet the1 indi
vidual requirements of
conservative investors
and institutions
Yielding 4 te 8
At for Circular F U
Harris. Ferbes & Ce
Pirn St.. Car. Willlaa
HEW YORK
PHILADELPHIA OFFICE
WMmrBldf
Telephone Spruce 7040
$50,000
LEHIGH COAL
NAVIGATION CO.
CONS. S. F. 4'as
1154
r
i.
XVm Freui Penna. Htata Tax
ae4 ieeVral Interne Tax te t
PRICE TO YIELD 5
REILLY, BROCK & CO.
. BANKERS
3t6 CHEbTNUl ST.
PHILADELPHIA
1 '
Foreign Exchange
CHECKS -CABLES
Te All Parts of die World
SpedalServlcetD Banks,6ankers
and Foreign Exchange Dealers.
Inquiries Solicited
Kardes & Burke
1424WalnutS&.Ph!ldclphU
faen sSfmct 6460
MYetk
Brooklyn ntnberah
Bosten Baltimore
Direct Pnmtu irci Cenncamg Ail Ofica
; BOUGHT, SOLD & QUOTED
wew ucvick -e. 03, yj
Virginia Rwy. & Pr. 5a, 1934
Tenn. Power 5s, 1962
West Penn Power 5e, 1946
Empire Refining 69, 1927
D. B. Martin 6s, 1935
Penna. Pr. & Lt. 7s, 1951
Southern Utilities 65, 1933
Vincemjes Water Sup. 6s. 1936
kmer. Pr. 6c Lt. 6a. 2016
Peoria Gas & Elcc. 5s, 1923
53 AECewnaCtt
" LAND TITLE BUILDING,
" . PHILADELPHIA. PA. '
.. i Mrtnlwrs of FUlla, Meck Kxrliange
Orders Executed for Caib or en
Cemerrative Marginal Basis
- McGLINN & CO.
Mtmbtn N Y. Sterk Fxthangt
300 Widener Bldg.
PHILADELPHIA
Ntw Yerk Bottef
A
fitrawbridge & Clothier
1st Mortgage 6s, 1942
0RLEi, WOOD & CO.
333 rh--nn xtre
fiyf 1 i Bwni ?i. t i-nnn. i-iefK r.irir.
mv
rl-r
'lTk
: !.. j
PV f (T
Bendsr Investment
IALSEY. STUART
it CO, Inc,
tnW
MARKETMOVEMENT
E
Few Selected Issues Marked
Up, While Recent Leaders
Broke Sharply
New Yerit, rob. 17. Prlce move
merit continued uneven In today's stock
market. Seme of tliu mere prominent
speculative favorites receded, ethers
'.eld, nhlle still ethers moved up Inte
new high ground. The general char
ncter of the operations very strongly
suggested peel distribution of special
ties under the cover of the strength of I
new iclccteil lsrcs. This served te
ring fresh leaders te the front of the
stage while tome recently conspicuous
111 the limelight net only took n back
ent but nlse broke badly when liquidat
ing pressure developed.
There uu.s ubeut an even break in the
overnight news and developments. The
Federal Ilescrvc reports were again fa
vorable. Washington advices pointed
te u possible shelving of the soldiers'
bonus bugaboo mid meney1 market con
ditions were decidedly easy, with n
plentiful hupply of call money, leans
lcuewlng Inte next week at -1 per cent.
On the ether hand, the annual report
of the United States Rubber Company
was fully us bad ub predicted, if net
worse. Londen cables te'd of the fail
ure of an English brokerage concern
which has been in business ISO years,
and has liabilities of $10,000,000.
Shippings and rails of the Invest
ment claw lifted the average of prices
substantially at the opening, but galus
seen were canceled at a result of re
newed pressure against oils and Inde
pendent steels. Initial quotations re
flected further buying of United Fruit.
Union Pacific, Southern l'aclfic, Mcr
cantl c Marine preferred, Lehigh Val
ley and Reading. Shorts made 11 drive
ngainst Mexican Pcrteuin, probably en
rumors of an incnased expert tax and
1 Crucible Steel reacted one point.
1 Much of the early selling was trace-
hdie te protcsHienai sources ana sectuctl
te be based en the unfavorable nnntiui
report of the United States Rubber
Company. That stock was well sup sup
uericd, however, yielding eny frac
tional'.?. Ou'f States Steel. Baldwin
und Studebaker were hcavj with Cm-
-iblc, and Mexican Petroleum showed
marked depression, losing 2 points. Te
rally before neon was led by Inactlvt
peclaltles of the feed and text! c va
rieties, also General Asphalt and Amer
ican Can.
The market showed little retiming
power after midday, when the bears
made u savage attack en Mexican Po Pe
tt eleum en rcpertb that u well had gene
te salt water. Mexican Petre'eum
s'umped O'Js, Pan-American -Vi niid
Pierce Oil preferred 0 points. Faver- 1
'te issues were also in free supply, with !
Studebaker. Bethlehem and Crucible ,
Steels losing it point or mere. In the (
specia'ties considerable lower prices 1
prevailed for some issues, United Drug
yielding 2'G and Adams Express 2'i. ;
The entire market was mere ud-1
vcrscly affected in the final hour when 1
Mexican Petroleum extended Us less te j
almost 7 points en Increased liquidation.
Foreign Issues again were most fav
ored in the brend and generally high
movement of the bend division. I'Tcncn
Government 7,:-h nnd United Kingdoms
of 1022 registered best prices for the 1
movement. French municipals nnd 1
15c glnn. Swiss, Swedish, Chinese,
Cuban Repub'ic as nnd Mexican Gov
ernment 5s were also firm te htreng.
The second, third nnd fourth 4's vere(
strongest of the Liberty issues. Denver ,
and Rie Grande 5s at a 2 point advance 1
and Louisville nnd Nashville 4s nnd
, Pennsylvania general 5s were auieu,
the higher rails, unities were tea
1 turcd by Western Union 4ia and Pa
1 -ifie Tc'cphone and Telegraph 5s at
I moderate gains.
Commodity Markets
GRAIN MARKET
Chicago. Feb. 17. Wheat was
erratic today. There was much long
May wheat sold by local holders. This
put wheat en the market which proved
n burjlcn later. The market, however,
did net present an appearance of weak
ness becauce every time Mav reached
$1.38, after a break te $1.37',?, there
was excellent buying. July exhibited
Independent strength. .
Spot wheat was relatively unchanged I
with u broader inquiry noted for the I
low grades which have eceu selling nt
tee great a discount. Liverpool Hpet
wheat was Id higher but futures were
Id te l'td lower. Buenes Aires opened
lJ-i cents lower. The seaboard reported
Germany took 500,000 bushels of wheat
late yesterday.
Cern trade was net active. The
start was cay, but geed buying
steadied the market. Receipt are net
heavy. The cash corn basis was un
changed, Exporters took 75,000 bushels
i corn out of this market overnight,
ut 1V cents ever May, truck. New
Yerk for Ne. 2 yellow, and bid tbl
price for mere, but sellers advanced
th"ir limits 4 te 8 cents.
Oats were lower. Receipts were
larxer but cafch discounts remained un
changed, h.'iipping demand wus moder
ate. Opeiiit II!jli50t Tyiveat Clesltnr
I
My
J 30
1-KX'i
1 ;iu4
1 37H
i.r.7i
July ...
Cern -
! May . . .
Oats
.May ....
I. it ...
I'erk
' Jlay . . . .
I-ari
May . .
Ju y
1 Klb
1 May ....
July ....
03H
CS'i
"5U
04i
41'i
43!,
02 1;
43
4Ji
41V. I
31.10
ii.ne
11 se
I t.nr,
II '.'3
.11.41'
11 15
lLft1?
11 S'.
II 43
11 0J
..ll.'.'i
. ll.i'J
11 15
11 ;u
11.13
11 IT
COTTON MARKET
New Yerk, Ftb. 17. Responding te
firm cables and a higher stock market,
cotton opened steady and H te 15
points higher this morning. Spot houses
and Wall ttrect interests were the
chief buyers early. In the face of un
leading and moderate pressure from
I New Orleans and Japanese concerns,
the list held well after the start ut about
1 15 te 17 points net rlbc 011 ucttvc op-
tleus.
1 irv, 'Iim OpTi Huh Lew cies.
Murch ... 17 .17 IT7'. 17im 17 UT IT.si;
Muy .... 17.1)0 1745 17(1.1 17 B'l A M
July .... l" ; ! JU iT.ir, vis.-, 1701139
Vctetr . Irt 311 1fl 4S lrt.im
in. i in r.r
OecinWr 1.
Spot. 13.10,
i ID 33 10.53 ftl.ll 10.47
UTerpoel. rb IT. A medrat bulra
waa done In upet cotton twlay th n.ic
asifr en the bul8 of u. Onclinn e ae liii.
for m dilllne at 10 Old Tlie .alMwYietS
ealen. Tnrre wt-re no rtclpta I-uturM
Aer quiet in the early da.ln. hoot
prlcm were Am r.lcun. mldddlnif fHlr
lU.lSd: ceed mlddllnr 10 7ld fully inl.il
llliur. 10 3iWi mlddllni, lO.Old: low !
dllnz, O.OHdi geed ordinary. 7 SO-1. and erdl.
nary. 7.061.
NEW YORK COFFEE MARKET
Cot,
Opn
8."ld""
B.'d'o'eo'o
s.'aVsr'eR
tj.'osei
null
t..
8.13
Leir Clee.
cle.n
C1H ,
Feb...
arrh
Vprll..
I May..
T.1
S.41S42
tS.45
8.4t39
t t
n,r.4iane
t BS
6 40
2'3i
S-lJlrjnt
S'e
S,3
2-:!a
July..
Auir..,
HeiH. ,
Oct...
Nev. .
De" 1 .
DM.
S50
6'.62
K.50
8".C7
H .'.7W3S
r "A 1
11 ,. . t
n 112
H.0V
8.IW
8.70
1H..V8
1
iR.ne
8 OS 07 8:tVS 8.00
S.0-'C703
irienuna'
Flaxseed
AGAIN IRR
GULAR
Pboea. Locust 7418
DulaUi. 1-ob,
l.478Mft
17. nasad. en track.
I te arrlieAl2.47SWS.40bl
'akt4 JU S3.7. '
.tlf),
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv,
In I
TeHay'i Nt
Cle Che
644-
"U: It
7 4
I43J4 W
MJ4- 14
n- H
M14 Mi
84 - U
w 4
148)4-- 1H
4f '
132)4- 114
14
66 - t
98- 4
434- H
Salrfl
8MB
SN
m
IMS
4
1M
8
298
M0
2M
MA
840
80S
300
set
tee
1M
100
soe
8X00
8X00
100
400
1000
10700
3140
700
8300
800
200
1140
400
100
S100
2700
2400
800
line
100
1201
K00
2100
200
1400
200
100
7A0
110
100
100
210
AV)
200
Hlth
Lew
Adams Ernreti sa
.. A lax Rubber IS
. Aliaka Geld M'nea. ... K
4 Alllrd Chem A Dv... M
7 Allied Chem St Dye ptlOSJ.
4 Atlls-Chalmtra 44
.. Am Auric Chem JtfJi
.. Am Agrle ClKm pf... S7J4
.. Am Bert Surar SSH
.. Am Besch Mams te.. !K
.. Am Can 40 H
t Am Can pf 8H
18 Am Car & Fdy 14714
.. Am Chicle '
.. Am Cotten Oil 32)4
.. Am Cotten OH pf, ... 40
5 Am Ktnrpes 183)4
.. Am Hide ft Leather.. 14
. . Am Hide ft Leather pf S
7 Ant Ifie 41J4
., Am Intemnt Cerp... 43H
I Am. La France En. H
Am Linseed ........ SS
. . Am Linseed pf S8
a Am Locomotive 104
4 Am It-idlater 84 H
.. Am Safety Rnser.... 4
.. Am Ship ft Cem SJi
. . Am Smelt ........... 44
13 Am Bntiff 134
8 Am Steel Foundries. . 32)4
.. Am Sumr Ref 1H
7 Am Sugar Ref pf....
. . Am Sumatra 24)4
0 Am Tel ft Tel US
It Am Tobacco 14 K
Am Tohacce pf new. . . 101
12 Am Tobacco B M3)ft
7 Am Waterwks 7 pr. 74
7 Am Woolen 8'li
.. Am Writing Paper pf 25V4
.. Anncenua cepdt .... 4U
.. Assets Realization ... 1H
4 A me tlry Oendu SS)4
Ase Drv Uoeds m tt ""W
8 Asse Oil 4i
. fl Atch Ter. ft Snta Fe. 7)4
6 Atch Tep&SFpf. ... 8y
.. Atlanta Blr ft AtPtntte IVi
7 Atlant'c Cea't Line... 8S
.. Atlantic Fruit 3
.. Atl Gulf SWISS., 27 U
.. Atl Olllf A W I R S nf 2014
Sft
1H
H
m
14H
4414
84K
"Hi
S3
SS
?
8)4
148)4
8
31W
4
a
en
98
42H
H
33)4
SH
M7U
87)4
4
4!4
4
130
83
64)4
45
2S
I1HH
134)4
10054
180)4
74
tm
111
7H4
99 4
17
84)4
l'i
89
2
26)4
1954
33
14)4
74
U3
75 )4
S4J-J
31)4
8)4
03H
23)4
8
7H
78
110
37
117)4
05
30i
44
25'i
10)4
73
4H
80
Ott
I2r)4
3)4
324
6074
192
C3)4
3
4)4
14)4
14
6)4
30
32)4-
; -
104)44-
89)4
4
46
130 -
33 -
6H-
SS
35)4
118)44-
135)4
101
t)4
74 -
KJi-
35 -
474-
14
54)4-
76)5
SOW
J -
84)4
1)4
SS
3
7ft,-
194-
33
16)4
75
lt44
?4)4-
64".
300 5.80 Atlantic Pet 23
600 .. Autln Vleholes .. 18 J$
-'" T AUst n N ehelan Inn nf 7
14110
I Ba'dwln Locomotive .VWi
, Baltimore tc uniu.... 3CH
I Baltimore ft Ohie pf. 04V4
. BatepllaH Mlnlnir.... H
. Bnmsdale Clars B... 21
I Bethlehem Steel 9
J Beth'elicm Steel B.... 4?4
. British Em Steel .... 0
,. Brit Em Steel 2d pf.. 22)4
, Brklvn Rsnld Transit 10
100
IX)
200
140
3V
110 19
310
200
8410
811
100
011
210
100
210
me
tee
S10
200
22 n
810
100
:ioe
1910
400
1110
tee
100
3711
00
200
tee
700
400
1100
1300
800
310
4301
100
2400
tee
100
1100
390
SOO
100
7140
11000
1300
700
110
200
C)9
1890
400
2011
4 .
31)4
-32)4
.
4-
7W
78 1164
32
117)4
45
30H
48 -
80 -
514
2)4 T'A
58
-334-67)4-5)4-?4-76)4-164
39 -05
444-264-444-574-744
48
Al5
12)4 534
103 -
34 -60)4-814
19
9J44-
35
57 -
1HI4
lll'4
3 Wi
Ilrklvn R T ctfs of dep 7J4
7 Buffalo ft Susq 7H
. Burn-" Bres A lift
.. Burns Bres B r"J4
1 Burns Bres p 0f....lt7!2
7 Burns Bres pf 05
.. Butterlck 3094
.. Butte Ceppr & Sltnc. H
. . Butte ft Superior ren 20 J4
.. Cadde Central O ft IX. 10m
O Calif e-n'a Packing 74 U
.. California Petroleum 4f V
7 California Petrel pf. . 80
. Cal Zinc ft Lean.... 6
10 Canad'an PaclMc 130 '4
.. Case Plew Works.... 3H
.. Central Leather .... 33 Ji
. . Central Leather pf . . . . 6 Ji
8 Central of N J 143
e Chandler Moter! ... e3J4
.. Chicago Alten .... 3
. . Chicago ft Alten pf . . . 4?(
. . Chi & H III (new) .... l'i
4 Chesupcake ft Ohie... 8
.. Chicago ft Gt West.. 6V4
.. Chi M'l ft St P H
.. Chi Mil ft St Ppf.... 34)4
8 Chl & Northwestern.. 67)5
4 Chicago Pntu Teel.... 48)5
. Chl R I ft Pae M
6 Chi R I ft Pae 6 Pf 78)4
.. Chile Copper 17)4
.. Chlne Copper 24 54
.. Cluett-Pcubedy S3
4 Coca-Cela 44)4
.. Colerado Fuel ft Iren. 2H
5 Colerado ft Southern 45
4 Colerado ft Se 1st pf. 74
6 Celum Gaa ft Elec. . . . 7S
.. Celum Graphopheno. . 24
.. Cel Graphopheno pf. . OH
4 Cemp Tab Rec 44
. .. Consolidated Cigars pf 48
.. Consolidated DIs Ins. . Vi
7 ConselMatod Gas 42
.. Consolidated Textiles. 1"V4
.. Continental Can .... H
'3
67)4
4)4
34 U
7'4
14?4
24
85
44)5
24 U
44)4
57
72 H
14
8 'A
45
48
'
1)4
11J4
034
1014
334
404
8194
18Ji
0)4
234
04
111)5
111)4
234
665
139)5
14
33 K
;e'4
104
17 i2
it
h0
83
1214
13)4
!4
4154
674
47)4
149)5
8)4
69)4
80)4
37)4
744
an
2.V5
6J
7!4
31
72)4
74)4
61
l4
98
H'i
394
24
8
37)4
29)4
24
15
71
28 K
J24
62
47
13)4
30)4
1
164
47)5
36)4
234
37
C7
"'-4
15?4
127)4
110
Cern Products Ret...l02H
2100 9.BO. Cosden & Ce...
34i
Hi
814
l)i
10)4
A0
4 Crucible SUel
100
4000
2690
8790
8290
400
400
1410
10
90
800
1DO
1000
810
410
310
4890
190
10)0
100
1100
11010
390
00
SOO
3700
100
100
coo
800
890
200
SOO
100
100
4900
000
200
120J
li0
U00
1300
100
700
7 Crucible Steel pf. .
. . Cuban Am Sugar .
.. Cuban cane eiugar
. . Cuban Cane Sugar
pf 2J4
. . Davisen Chemical
6SH
a Delaware & Hudsen. . 1117.
6 Del Lack ft Western. U1M
1 Deme Mines 3.1)5
10 Eaetman Kodak . . . 4C5
13 Electric Sterage Bat. . 140
.. Elk Hern Ceal 18H
.. Emersen-Brantlng pf. 23)4
O Endlcott-Jehnson .... 80
.. Erie 10)4
.. Erie let pf 1794
.. Erie Sd pf ")4
8 Famous TlayeraL.... 81)4
10 Fisher Bedy 83
.. FIsk Rubbr 134
.. Freeport Ttsaa ...... 1314
. . Gaeten Wms ft Wig. . )4
.. General Aaphalt 43)4
0 General Asphalt pf. .. . 88)4
8 Genera Cigar 67)4
S General Elcctrle ISO
.. General Metera 84
C Gen Metera deb 6",.. 6974
7 Gen Meters deb 1 ;',.. 80)4
.. Goedrich B F 37 H
1 Great Northern pf.... 7J4
4 Great North Ore ctfs. 3)i
.. Greene Cauanea Cep. 25Ji
.. Ouantaname Sugar .. 7'i
.. Gulf Mobile ft Ner.... 7)4
.. Gulf Moblle & Ner pf. 21
.. Gulf State Steel 74)4
.. Housten Oil 74
3 Homcstake Mining .. 61V5
.. Hupp Motorcar 14 H
1 Illinois Central 101 )j
60S -
15)4-
33!
11 -
81 -
83 -13J4
.
13 .
Hi .
63
474
67)4-
160
69)4-
80)4-
3-.J4-"4
.
34 -
Wn -7)4
-73Jt-71)5-61
-j-144-
89 -
84
34-
3H
8 -
am
29)5-21)4-14
-71
-
26J5-
I3J4
03. -47
-14
-
3114-IJb-
104
7),
36)4-
334
4 37)4
70 ..
'-" 14 -10
-:
137 J4 h
110
Indian Refinlnc ....
10
Indlahema Kef. .....
Interb Cen Cerp
interb Cen Cerp pf..
4
-'?4
814
37 J,
20 )J
34 )i
iJ4
73 -u
26
12 Ji
en
4n!4
14)5
10J
Int Asrlcul Cerp pf.
200 S.BO In Cement
1100 .... Inter Comb ling
000 . Int Mcr Marina
Ciau e Int Mcr Marine pf....
400 .. Internat Motertruck..
27JD . . International Nickel .
400 e Internal Nickel pf. ...
10 .. International l'aier ..
3200 .. Iuvlng.ble Oil Cerp..
1J0 .. Iren Products
18090 .. Island Oil
4210 .. Jewel Tea
100 . . Jewel Tea pf
ion .. Jenes Bres Tea
)
17
8)i
30 14
490 .. Kansas City faeuiuera z
27t0 .. Kansas ft Gulf X
700 . Kelly-Sprlngtleld Tire 37 Ji
20.i . . Knlsey Wh(l 70
0U0 . Kennecett Copper.... 37 fj
15e . K'-ystene T ft It 10
3)0 n Kresge S b' 137)4
tee 7 linage S S pf 110
Total aales. 710.200 eharcs. compared wltb 761,000 6har
DIVIDENDS DECLARED
CberbreusU .yanufacturlw: Company. juar.
terW 13 50 en common and $1.75 en prcer
rd, leth rayable March 81 te utecli of rw;
crl March 10.
MacVay Cempanlea. auarterly IH pr rent
en common and t per int en preferred, both
Say 11 m') April 1 te ateck of record March ft,
I.Mts On f S'4liliur I'empany, cjtra quar.
iri- SO c-ntSi m addition te duar.eriy 60
rent", payable March 15 te steclt et record
M"eeSmi.. nuiTlcrly of 10 rr cant r,;
MONEY
NEW IOHK
pr cent: low,
3 H; etferej at
'limn money
nclwliliatandlrtr
narKPi. nils vrnit
impriien en ui
t e one in money
pant tow Us Is
inere, nowevcr. la
inn in mm rei'ei.
in mat tr.e cll
canler durJin; the
ceinirn ana """ "f"'"
.ir. i nf rererd Kebruarv is.
In tbat event cenlldenca li entertained
that the. tlme meney nio-'liet alae must un un
derse a cranes for the better se that bor ber
rcers wl 1 b ei.abled te acrure action en
Wew the s rr c-nt tradlnc rate thut un
obtained In the past couple of days. Tue
situation, however, la being watched with
Kfen In'.rrei't, and today's tlnv market wan
quoted ut i te 5 per cent for nl ma
turities ranging from sixty days te ulne
mnr.ths
Acceptance bills were In peel demand
tluousheul today's .--union, t.ut the oiu eiu oiu
ceunt rate remulned unchanged at 4 tn ill
per cent,
Inicmatenal hllver, . auarter y l' .rr
uif rr"ferreil, payable AprU 1 te uteclt
it cierd T. bruary .0,
CeibOlMalwl Obk. Rlectrlc Wsht
Power Company, Ualtlmerf. euarttriy
and
of 2
both
Mf rnri mi
common
und prefarred,
f'.M.," Ar,rll
Mf HIV f
1,
BANK CLEARINQ8
Dan clcarlnsa today, compared ulth cor cer cor
reirendliie day lufct te wm:
10-J2 1C21 1020
Phlla... 482,1100,000 140,276,121 478.g4;j.644
Boitea.. flO.OOO.OOO 44.02a,040 n0.7B.87a
Kf.PTlaA
nt y.... 7a,yoe,oBo
CblcMre. BLM9.499
N, V.... 792.900,000 627,447,010 764,610.1
6 per cepti
. vvtii HMinr
iimi r
872
T
'&"
Blah
Lew
Lackawanna Steel .. 47)4
1M
144
.. Lacfed Gas of Bt L. . 49
.. Lake Brie ft West.... IS
M T nilhtuir Tlra 9144
49
IS
87H
04
1SS
:;
n
161!
714
144J4
J4
81
1814
47
44
89
A
114
34 J4
28
rs)4
M6)4
1184
86
26)5
18
2994
8J4
66
24
10)4
2911
,1"14
474
19J4
78 VS
1194
ire)4
:s -
114
41 14
3)4
134
60)4
59
WJ4
63
1715
21
140
56)5
414
74
70)4
24
24
1594
136
14
45
37)4
7)4
60
14
46 4
614
3
4794
344
795
754
33 4
67
f.7)4
7394
68
33
14T4
30 J4
74
46
2394
C3',
1154
374
34
113)4
19)4
13H
74)4
31
8
5194
83
65)4
184
1394
33 Vi
43
34)4
374
3
4
74
63)4
13)4
8
38JJ
10
40
0)5
89
8394
1874
0)4.
96)4
177)4
11)4
78
99)i
33
38 14
334
100
414
14
34
1014
45)i
30
35
385
424
21)4
614
33)5
3394
04
130
IS
130)4
7-14
102)4
65
137J4
634
24)4
10
314
4!i
01)4,
63)5
99
oe);
lit 4
61 4
134
34
314
69
714
7
21)4
14)4
0
154
B14
63',
?14
134
38)5
9
14
414
24
37
75
160ft
119
47
140
14490 8.80 Lehigh Valley 61)4
10 II L-Irett A Mvera IN
144
1 Llatrett ft Myers pf... 116)4
1 Lima Locomotive 44)4
.. Leewo Ce 14)4
1 Left Candy 14H
7 Tioesc-Wllea B 1st pf. S7J4
13 Lerlllard Tobacco,... 144)4
. . Mclntvre V Mines.... JU
44
7441
tee
144
140
1144
O.AtnckayCes 81
90 . . Malllnsen 'ft Ce 1
1379 .. Manatl Buar 48)4
loot f Manhattan Elev truar 47
310 1.75 Manhat Bhlrt SS
70 . Market Bt Rwy 6
.. Market St Rwy pr pf 47tft
190 ., Market St Rwy 2d pf 114
5JJ .. Martin Oil 5t4
J00 .. Martin Parry 314
J22 .. Math Alkali 30)4
.! 8 May DeP 8ten 1W
S4S19 t4 Mexican Petroleum ..13514
100 g Mexican Petroleum tif 86
H
3
"4
J4
8
M
4
J
H
i
V4
1S4
1
1
4
4
14
VA
)4
..
V
..
..
Jt
I
!4
14
3'4
J4
i
..
100 8 Miami Cenner 2014
lj;jl.0 Middle States Cerp... 134
1314
Mldvale Steel 39 !
100
440
600
4010
3500
600
1109
700
340
200
146
290
400
1319
319
3090
310
390
1019
600
1510
100
800
1310
300
610
3401
100
400
100
306
300
100
300
100
200
399
600
100
15000
4800
1390
1800
290
1210
400
3)3
390
400
109
2100
910
1710
1451
400
300
1600
3600
1210
100
.. Minn ft St Leula .... 8T4
7 Minn St P ft S St Me. 7
.. Me Kansas 'ft 'lexas. 3
.. Me Kftn ft Tex (wl).. 104
.. Me Kan ft Tex (wl) pf 394
. Missouri Paelfte 18J4
.. Mo-Padfie pf 484
.. Montgomery Ward ... 114
.. Mulllns Bedy . . , 264
7 National Biscuit pf ..119J4
... Mash Chat ft Bt L.. 100)4
.. Nat Cleak ft Suit .... '5
.. National Cen ft Cable 2
5 Nat Enam ft St .... 4394
. . Nat R R of Mex 2d pf 3)4
.. Ncv Cen Copper 14
6 N O Tex ft Mex .... 61
..Nt Air Brake 94
0 New Yerk Central ... 76J4
0 New Yerk C ft St L.. 4
. . New Yerk N II ft H. . 1794
8 New Yerk Ont ft W. . 21
7 Norfolk ft Western . . . 1804
8 North American ctfs.. 57)4
8 N American nf ctfs.. 41)5
. North Amer rt 774
7 Northern Pad no .... 7994
.. Neva Scotia S ft C. 23
.. OMa Pred ft Ref .... 2)5
. Orpheum Circuit .... 1494
8 Otis Elevator 137
.. Ot'e Steel 104
.. Otis Steel pf 45
J
1
14
'l4
4
Owenx Bettllna-
38
. . Pacific Devcl Cerp...
6 Pacific Gas ft Elce .
.. Pacific Mall
0 Pacific Oil
.. Pacific Tel ft Tel
e TVit.-Amer Petrel ...
Pan-Am Pet Class B
2 I'ennsllvnnla R R...
.. Penn Seaboard Steel.
C Peeples Gas Chicago.
. . I'ere Marquctte . . . .
S Perc Marquctte pf ..
0 Pcre Marq prier pf.
II Philadelphia Ce .
3t4
'
14
47
614
Sf)4
114
34?4
14
754
224
5714
68
34
.. Phltllpti-Jenes W
50 PhllllpB Pet 33
.. Plerce-Arrew Moter.. 15 V5
. . Plerce-Arrew Met pf .
.. Pierce Oil
8 Plerce Oil nf
3114
8
4
514
24
.. Pitts ft West Va....
. . Pressed Steel Car
64
8 Pullman 1164
.. Punta Alcgre Sugar.. 38)4
t Pure OH 34
7 Railway Steel Ser nf. 11315
400 3.41 Rand Mines 30)5
100 .. Ray con Copper .... 13)4
8;0O 4 Beading- 754
100 .. Remington Typewriter 31
200 .. Republic Meters .... 5
900 .. Republic Iren ft Steel 52)4
4
',4
14
14
54
4
"14
'
14
V4
114
94
1
i;
eju 7 itcpub iron ft Steel of 3
7400 5.30 Royal Dutch N Y
114
400
Rutland R R pf 30)4
190
400
900
1000
1110
1100
490
800
1290
11700
100
800
6100
200
100
100
8100
690
1890
1990
390
40(1
100
200
1100
300
31500
200
400
200
moo
500
2KOO
6300
1290
156
1408
1300
100
601)
390
S30O
100
1100
1500
100
tee
2:100
1490
C300
3290
14 JO
1S00
1300
100
0100
500
31200
100
1530
200
3100
200
1030
500
1300
000
100
100
400
400
2703
300
100
300
2100
ZOO
7800
1400
0U0
100
200
100
100
1 St Jeseph Lead 134
.. St Leula San Fran .. 24)4
.. St Leuis San Fran P s4
. . St Leuis ft S W R R 23)4
.. St Leuis Southwest pf 38
.. Saxen Moter 3)4
. . Seaboard Air Line . . 4 14
.. Seaboard Air Line pf 8)4
.. fa'care-Reebuck 0394
.. Seneca Cep Cerp .... 13)4
. Sliattuck Arizona Cerp 8
.74 Shell Transport .... 39
.. Sinclair Oil 194
.. Slea.i-SheflleM w. 40
. . Se Perte Rice Sugar. . 015
8 He POrte Rice Sugar pf 89
6 Southern Pacltle 844
.. Southern Rail 19
.. Southern Rail pf ... 614
4 Standard OH of Cal.. 87
C Standard Oil of N J.. 178
7 Stand OH of N J pf 115)4
7 Steel Tube pf 78
7 Stern Bres pf S9S4
3 Stewart Warner Speed 83)4
.. Strembcrg Curb 38)4
7 Studebaker 94 )J
7 Studebaker pf 100
.. Submarine Beat Cerp 44
. . Superior Oil Cerp .... 54
.. Temter Cern ft V "A" 3&
. . Tcnn Cep & Chem .... 104
3 Texas Ce 454
.. Teaa & PdCiflO .... 31
I Tex ft Pae C & O . . . . 25)4
. . Texas Pae Land TrustlOO
S.S6 Tex Gulf Sul 43
.. Third Ave ....: 23J4
5 Tobacco Product .... 63)5
.. Tel St L ft W ctfs B. 34
.. Tel St L ft W pf ctfB B 1394
. . Transcen OH 10
lis
4
14
114
14
14
94
14
14
14
II
4
10
1,1
14 1
14
J.
14
54
!4
4
14
10 Underwood Type w... 130
Union Oil
194
14
54
14
!4
10 Union Pacific . .
131
7.14
102)4
66)4
139)4
Ml.
234
624
Union Pacific pf. ...
Union Tank Car pf..
United Drug
United Fruit
United Retail tftorea
114 1
14
4
1'4
94
114
4
14
3!4
4
14
14
11
'l4
IS
la
II
4
!4
6 '
114
lii
1)4
14
4
'
14
9
14
24
4
U S C I P ft Fdy....
U S C I P & Fdy pf . .
U 8 Feed Products..
U S Ind Alcohol ....
U S Realty ft Imp....
U b Rubber
U S Rubber 1st pf....
3!
444
C24
444
1)0)4
91)5
116)5
63
U S Steel ...
U 3 Steel pf.
Utah Copper .
Utah See
Vanadium Cerp .....
14
34)4
31)4
Va-Car Chemical
.. Vlr Iren C & C pf ct 71
., vtvaudeu lne 74
. . Wabash ' !4
.. Wabash pf A 3194
.. Wabash pt D 14 J4
. .' Western Maryland ... 9
.. Western Paclfle 185
7 Western Union Tel .. 01)4
4 Westingheus. Ji ft M. 64)4
.. Wheeling ft L IS.... 7)4
.. Wbecllng ft L E pf. . 134
4 Whlte Moter 3H
.. White Oil Cerp 10
. . Wlclt Spcne Steel Cerp 14
Willye-Overland .... 5
. . Wlllye-OvurUnd pf... 20
.. Wilsen ft Ce 37)4
7 Wtleen ft Ce pf 7ft
8 Woolworth F W ....150J4
7 Woolworth F W pf. .110
Worthtngten Pump... 47
4
lesterdar.
Thus far this ik, 2.057.000 tbarai,
- LENDING RATE3
Call money steady; bl(b. 4
4; rutins rate, 4i cleslru; Hid,
4i last lenn. 4.
today again held fairly firm,
the emlcrt tone In Die call
8ali
Raw Sugar Market Steady
New Verk. Feb IT. The raw sucar n...
Uct a steady with Cuban for KeEra?yWAr;
March Uilpment quoted at 2Hc. ci ??5
rselRlit. in addition te the 1.1 ene AH
Cuba, (apprexlmatrly 140.C0O is,) mfr"
liellevel te CO nu te an
part ct
ralea en
the tank, thai V'ate'ra toek'l4 MtVH
call durliur th- ,.'uhBS for March slilpmuit
but u temporary altuatlen,
vtlen. ,,u,, hlle the National Boiar n mSZ
op n- empany purchaaed (J4U0 base Tl'orte , ni?
italn. afloat nt 3.04c. e. I. f. The local ran.??
werlt 1 market la uncharged at B te a.lOe u.C".'.
ir iMut for caah. v' ,e,J J
quita a diversity or epln
many nrenariy maim
maiKet la Pound te
nut .nentb or re.
Merrimack Mfg. Ce. Cut4
Bosten, fob. 17. -The Merrlmack Man,.
facturti.gCempanv has dee arid a auan.nrh;
dividend of 41.50 en common, payable &"
1 lo.eiocK i iraiu reuruary 10. Tnli (1
a reduction of 00 cents from the urevfei 2
dei-laratlen, pr from an t0 i $9 bail,
Hseular semi-annual 12.50 dividend was JSl
clared en the preferred, paUb March 1 te
ttecli of record February l. w
BAR SILVER
Domestle bar silver was uncli
Tork today at OBKa per flne c
TTalt. R m. jim.. ii.
eorerosrcla! .Pttptr.' tarn
S?Jicu5 g.ig-et-Ac!..-n oaieB,
wen mt cmk.
F4W fs ""i ' "-1" 1M
- '!'?' I. ' I
mmmm 8V Ms s4sj Sfc Stft Skl SBBaSBSMslBVSH
UKMKKtim
IN LOCAL MARKET
CIOi CtUr.
46)4- 14
46 - i
B7H- W
66)4 . H
1SS - 3
im .a
14 114
10J4 14
87)4
149)4- H
H4- 14
'81
18)4- W
48 14
45 T4
89-4
6
4714 '
114- 4
Price Movement Mixed Without
Wide Variations in the
Active Leaders
IM... Ak.U a. amabb MtW..ll
iiierc wua eviucuuc vi cjuse .u..m-
In today's local market. Price move
ment was Irregular but without any
wide vorlntlen In the quotations. The
recent forward movement In n number
of -the local stocks unquestionably In
vited quite a considerable volume or
reading of paper profits. Undoubt
edly the adjustments attending these
operations uccnuhted for the ragged ap
35)4- H
28-4
36H- 14
pearance 01 tue general nu
The market, hewevc. was net with
out strong spots, notable features in
this connection being the further ad
vance lu Lehigh Valley and also the
renewed buying of U. O. I., carrying
the last named within a small fraction
of the top price of the year. The Pblla-
i'..i.! t3itiM tat...,. m l,n bnmft time
11914- ili
801
34)4- 4
J4- 4
394- 14
8J4 .
67 H
34- 14
10)4- 4
34 - U
18H- H
48)4- 4
IS - !4
3694- 14
1194 74
100)4
a) te
414- 14
3)4- 4
"4 14
61
69J4 14
744 W
43)4 14
17)5- 4
21 - 14
100 - M
6 14
114 ..
74- 14
7014- 4
35 14
214 ..
164- 14
136 - 1
10H- 14
4 44
37)4- H
7)4 ..
MJ4 94
1414
46)4- 4
614 14
63 - 3)4
4794- 814
344 - 14
74- 14
754- Mz
33J4- 14
67-J4
68
334-
483
33 )4
15-4
81 - 14
m- 4
40-8
334- 4
63)4- 54
1164 14
374 4
a4- 4
11354-
1914 ..
134- 14
7494 14
31 - 4
s
8194- l
83-3
54 14
3011 154
134 4
33'5- 14
434 4
34)4- 1
3794- 114
2 - V
414- 14
74- 1
03)5
134
8
38J4 54
19 - A
40-1
60)5- l
893
834- 94
10
61
06 54 ..
177)5- 314
115)4- )4
78 - 4
9954 ..
33)4- 4
38)4- 1)4
03J4- 4
100 - 3)4
4)4 !4
614 ..
34- 94
104 54
45)4- )4
30-1
35 - )5
385 -15
434 14
22)4 54
6354- 4
33)5- 1)4
334- 54
8J& ..
130
1914- 4
"04 54
M4- 4
102)4- V
06)4- i)4
137)4- 4
63 H- 94
35 - )4
te)4- 2)4
UU 1'uin niwuni IOOUVO Ok ." e- -- -
continued te display noteworthy strength
Wltn me common recovering me tv;
tcrly dividend taken off today, while
the preferred regained wero thnn hair
of jts dividend. A few transactions were
made In the full-paid preferred war
rants, nt price in close parity with tu
outstanding preferred stock.
The street railway shares remained
quiet notwithstanding the growing ten
sion in the proxy contest. It Is new
generally reeegnbscd, however, the con-
.. til .. k enrrlfttl Inte tllC
I I
I j
I I
I I
open market. The stock, according te
beard reports, is Doing irceiy ruiiyircu,
n'theugh net forced en the market. The
.frinOTH tstfln. irAfn mndnrflte. but
h
caused a further recession te -3H-
Union Traction en the outer naun uV
penrs te be pegged nt 35.
'JLD0 Convention nropeNuoii Y'
ib .i.n .li.n nn ilin aneetilntlen in tue
American Stores. Trading In these
shares fell Uat, wnicn suggesieu u u
fusien regarding the conversion scheme.
ut..,.!. unnA Tlnttnrv rpfleted GC3
ultery profit-taking which carried the
stecK mero man a pemi, uuu "-;
night's closing, but. part of the greunJ
....... i.... Atrlntnft Amerlenu Gas. en
wu lULVI n;v.v,v... - '
hmall transactions, made a new top fig
ure for the year at CO, but Its gain was
net retained. . .
Various factors lowered the reserve
ratio nt the local Federal Reserve Bank
this week. Geld reserves ere down
$2,000,000 for the week nnd up 51.
000,000 for the year. All reserves arc
down 4,000,000. Bills en hand in
creased $10,000,000. of which $3,000.
000 is en account of bills discounted bv
Government obligations. Deposits are
down slightly but nlinest exactly the
sumo ns a jcur age. Federal Reserve
notes nre up $.1,500,000 but arc $0,
000,000 below last year. Reserve ratio
is 70.7 as compared with 72.0 u week
age and 03.(1 a year age.
Philadelphia Stocks
N.t
chie.
Rich
leOAm Stores PH
45 de 1st pf.121
35 Am 8 & O 0
C6Am Gas.. GO
JOOfAiu Hugar 0(1
20 Am Rwj-s G
78 Bank N A
war w J. 02'3
SOOfReth Stl r. m,
800 Cad C Oil 10i
100 Cnmb Iren .W.
COtChan Mtrs fl2r:5
Lew Clese
02ii Ki
122V. 124 1
0
0
58i-l
604- H
5T4
ey8
02
tV5
10!
62 Vi..
03-lVi
10A V
nn 1?.
"U
K0
62 625a it
luuTuesden .. a
34 34 V.
331tCel Graph 2A 2 2 ..
145 Elcc Ster l'lO'-S 130 140 ,
uu ucn Aspn. ua tw t -f-l
e--Tucn Aietrs a ab
854..
auT a wtcel 7ii)& T
eOOtlmp Oil .. 24 1'
72 24
1- V,.
7iii
27H
O14
ml
27e
lOTIn M pref 71',fc
525tKennc Cep 27
lOLSupC. 0
620 Leh Nev.. 70" i
430 Leh Val... 01
74 70-- li
60Vj 61--1
lOOtLeews.... 148 14 14!
iTMcx i'et..i liu liu m
lOOfM Sta Oil 13j 13i 13..
100 Pcun Cent
Light pf. 52
305 Pa RR .. 35
12 Pa Salt... 09
T2
34
COql
52 1
34-3'.
60..
'
',-
1065 PUT . . 23
60 Phila Elcc
pf cash. 28
235 de war fp 27
101 Seneca... 13
lOOtSe Ry pf 51
lOtTex & P 30
lOOTone Min. 1T
lOOfUnien Oil 10
80 UnienTrac 35
1300.U G I . 40
70 de nrcf . 52
It PhiluCepf 31Vi S1H 31'4-f Vi
64 de cum pf 37 37,4 37
1488Phll Elec. 24M 23 2444- U
27 de nf . . . 27'i 27 27 - U
53 Vi 2315- J,4
2S 28 J4
27 27..
13 13
51 51 . .
30 30-
10 Ji lejf-f- pt
35 85 7.
40 40VA
52 52 7.
25TU BCIP 24 24 24
200 Yerk Itwy 13 13 13 ..
Ea dividend today Phlla Electrle com
mon. 14 per cent; Phlla Electrle preferred.
00 c-nts.
tNet change made by comparison with last
Bale en New Tork Stock Exihange.
Total sales. 11,254 shares, compared with
11, 12 rhares yesterday. Thus far this
week. 00,107 chares.
ruixADixrinA bems
7100 Liberty 2d 4Mb '42.. lets 00.04
15000 Liberty 2d 44s '42 07.04
1800 Liberty 3d 4Us '28. .leta 07.60
3000 Liberty 3d 4is '28 07.74
10300 Liberty 4tb 4's '38.. lets 07.48
100 Liberty 4th 4 Vis '38.... 07.30
1000 Victory 4s '2;) ioe22
500 Victory 4b '23 100.10
10000 Victory 4s '23 100.28
' 500 Victory 4s 'D,'! rcg.... 100.00
1000 Victory 4s '23...:.... 100.26
50 Vieterv 3s '2,'J 09.08
2000 Hell Telephone 7s 108V4
1000 Keystone Tele Ut 5s. . . . 7.115
10000 Lehigh Nav con 4,f.B..leta Olli
2000 Lehigh V11I 6s 1028. .leta lOiai
0000 People's Paf-s 4s lets 67
1000 Phlhi Electric 1st 5s 05
1000 Phi'a Electric Os leta 102
Total. 170 00, compared with 455.700
yeateiddy. Thus far this week. S387"400.
FOREIGN EXCHANGE
New Yerk, Feb. 17. The opening
foreign exchange market this morning
Hhews mes-t of itsuea at nn advance
ever last night's dose, with the excep-
4lAn if r 1111 I II (4 tlli.l iuaJi,,
V2 b
44)4-0154-
644
99)5
,
,
34 -31)4
14 ,
7 -
21)4-
14J4 ,
0 -
154 ,
0115
3)5-
7)4 ,
134-
38)5-
iSHz
25 -f
37)4-
75
130J4
110 47 -
14
114
14
4
4
'4
li
4
4
14
H
114
14
In the early afternoon the market
was .irregular, fitcrling lire and mfirU
were lower nnd guilders were much
stronger. Sterling cubles were 4.35,
demand 4.34 ; franc cables 8.71
checks 8.70': Hre cables 4.84, checks
4.84J gul'der cables 87.00,"" ckcckJ
37.e5 ; marks .48.
The rate of premium 5a New Yerk
funds in Montreal today was 3 ncr
cent. The rate of discount in New New
Yerk en Canadian funds was 3 per
cent.
Central European exchanges were
Greek, 4.57; Serbian, l.aij Finnish
2.02 i Polish, .03; Austrian. Ittl: iC.'
, prien. .15; Bulgarian. .70; Human
inn, .80, Czeeho-fs.evukian, 1.00; Juco.
Sluvlan, .32. -
YUSTiinUAV'O CLOSlNa QUOTATIONS
Sterling Francs Ure Gu Mar.
Demand 4.33 H Sfi ilsf a? 31
Cables 4.35H S.8514 4!85l4 ST 87
TOUAV'S OPENI.Va QUOTATIONS
Bterllng I'rancs Ore 18 u TM.r.
Demand 4.;ltJ, h HtiVj 4.h"), 37 4rS
Cables 4.3 8 70V? i8an $l'Vi
NOON QUOTATIONS
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In the Eyes of Men
The reason why young men are
' advised te build up a savints ac
count is net, alone, that they may
have funds available when they
need money for the big oppor
tunity, but that they may have
established their responsibility b
the eyes of men-
vwmwl
Is your responsibility established?
Jleseurcent ewr S14,000fl00
Franklin Trust Ce.
Main Offcet Fifteenth Street below lIarkat
Delaware Ave. & Market St. Fiftr-Mcear 4 Market Sta.
Cermantewa Ave. above Chelten Ave.
"The liutitaile Thai Gov Pkilaitlpliia De eai JWf ll Service"
r TT"
DmECTORS
Oio.BinueuM.Ji,
WouamWeod
CxAautWitnua
CaAS-E-lxotaieu
A- A. Iacmen
SAMtmM.CiniwTX
CtAsxNdM.Baeww
Swvms HjCTHCirra
Mr. Nathan SncUenburg, of N. Sncllcnburg & Ce.,
says:
"The benefits of an account with a strong
institution need no argument. Select a
bank with a high reputation for courtesy,
dependable advice, sound banking methods,
liberal treatment and where banking needs
are attended te satisfactorily."
Central National Bank
of Philadelphia
Chestnut Street at Mil
CaffcuIJi.oeo.coo SuTttusan&Un&,idii?nfiaEamti$4,toe,x
Strawbridge & Clothier
First Mortgage 6 Sinking Fund Geld Bendai
Due March 1, 1942
Callable as a whole or for the Sinking Fund until March
1, 1932, at 110 and intercut and at 107 thereafter.
FREE OF PENNSYLVANIA PERSONAL
PROPERTY TAX OF FOUR MILLS
We offer, tibect te tale,
a limited amount of the$e bends
At Market te Yield About S.90
BROWN BROTHERS & CO.
Established 1818
rODBTH ft OUESTNCT BTBEETS
PUIXADKLFU1A
New Tork
We announce the establishment of a
branch office in the
Du Pent Building, Wilmington, Del
connected by private telephone with
jour New Yerk office.
F. Irving Walls Leen G. Moere
Cuinmfngs E. Speakman
are associated with us in this office.
$riuce & mmtiv
Established 1S78
1ctnbers .Vete Verfc tftecfc CxchaitM
52 Broadway New Yerk
Uptown Office, 565 Fifth Ave.
Private Wires te Philadelphia, .Baltimore. Wilmington, Richmond,
rvew Haven, Hartferd, Syracuse
Wc Desire te Announce That
A. REGINALD WATERALL
' and
HAROLD D, HASLETT
have become associated with us in our
k omen organization.
fe - . .
Schibener. Bemninn &. nl
II -.;' 6 . ww.
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Locust
7440-7471
1615 Walnut Street B
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