HMKJHU Wtm. IgtKIWXl Ivjt , --"TV.AIlMHeWltJHSHH
wpwwwwjB
"v , ' . .11
5'.vVi.. rvn
mm
wtm
ja:
,s:t.i
.,
$
fK
rf
Sprace 8200
KWiJa
if
n- .l
;?j?.t j-1
:
We Will Purchue
Victory
Notes
At Par and Accrued Interest
Sr.CfTRTTTFS nKPAJtTMENT
COMMERCIAL
TRUST COMPANY
Member Federal Reserve Hyatem
City Hall Square, West
SMART RALLIES AS
SHORTS RETREATED
Immediate Future of Market
Depends Upen Position of
Various Peels
Srf
,.'
?
h'A
5.
r
WANTED
An e-tab'.tshed financial Inatttutlen
of thin city tcKlrn te secure the ser
vices et capaWe representative for
special yerk. Ne technical banking
training required. A man who -ia
been a surces-ful salesman la pre
ferred Fer the right person, n per
manent position with opportunity for
advancement, Thla la net a promo
tion acheme. State age. experience
and salary expected. Only the-e who
ran furnish the hlchc-t reference!
need npplv. Replies confidential.
n Mi) i-KneKR ernrr.
'izr: ----y
Safe Bends jrlnvestmcrU
HALSEY, STUART
&. CO. Inc.
Land Title Bids.
Theu. Lecuit 7410
C. S. PATTON & CO.
3D i rilF-WN'-T STS.
BANKERS
r..icresst,ta te
SAII.KR A STKVKNSON
Bend nml tnrk lienirlit 'ml "Old.
Memhera Phllii. Stock Exchange.
1 NEW YORK STOCK EXCHANGE TRANSACTIONS
Lawrence E. Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
rE?
tUII RliAL KSTATE TRUST ULDG.
Investigate and adjust corporation and
partnership acceunta and prepare income
Tax neturns.
MECewn&Ca
Land Title Bldg.
Members I'hllj. stock Exchange
. nXANTI l.
cel NTV or lU'C'kS
SlfO.000 riMHMl UOMIX 1927
S-iileS ;ircixa. w .1 t reclcd by the
cafle-k-raei at tbe etlce of 'he County Com Cem
r sucm-r Court Heuae Dojleitewn. Pa..
uru- IS t'tJeek neon. I'-bruirr St. 102.
Inr lll.e ((() Cesaty of Bucks Funding llond llend
1B22 Tr-e above b ri will be dated March
If".. 2!-l triij ttr .atercit s-mS-annually at
jT the ra.i U 4tt Tr :r annum and will be
, paykbll &J. fn mr
' r,t (xi.-i Mi a l. 1932
rr.2 niB jctrch i. m?
Mui.i'l'd M--a i. im:
SPi Olpfi Mk-rh 1. 1947
r.L.iiiin Mtrea l. :s:
The hnntif vU It co:n la fera. hut
Tiuty lw rrclKiereS tt te jvrtnrtpal. The
"tmnflK vlll ulhe f lux free la Prr.ilvanla.
."Bide -e he arrtrrr.jii.T.leJ by c-nlf.eJ checks
Jar Vi u? JH-- vun cJ traeust b d for.
TTtir mi'.nlim nT Mw) T ti-awad. Elliett
mnrt Slununn iif I- Lee; a. wi.i b fur
munfil b thf Ceutiti id tat rs.-ceuful pur pur
ithner Im CmtnrT Onrr.rrimli.ie- rfr.s th
vrUnt -i ti- tr i i . i. r - fyrthir
'tnrnmis-tlni ijnili "0 A.ir-i Ztlir. James It.
iLuulic J(t-U T r1 T&K ' "ra'?i,!i eners.
Ai!3jTu cX'1va:.ladi:k.
Clerk.
llnvl'-T'nv-T. Pt.
Ajcr.Mt
New Yerk, Teb. 18. Price snapped
back Rhnrply practicnlly all through the
. list in today's cloning stock market.
I Matters were mnde decidedly uncem
. fertnblc for the Miert Interests during the
two hours, ns nil effort. te cut down
I eutatanding commitment proved a Rig
nal for vlgoreu upblddlng. The pro
nounced reversal had its inception in
the opening strength of the railroad
share and equipment issue", but the
movement steadily broadened ns the ses
sion pregreKcd, reaching out te nil
classes of the stocks. Most of the oils,
meters and ether ennght In the late re re
irtlen yesterday mada animated re re
heuiiiln. Urltlh bend, particularly United
Kingdom', ngnln featured the netlve
and bread bend market, rising te 105Vi.
n new high ficurp. Their streugth was
associated with the further advance el
exchange en Londen. Other foreign
bends, especially French, Ttelgtau and
Mexican Issues, were irregular. Among
domestic isMics the Liberty group re
acted slightly and Denver and Rie
i ttrande canceled the greater part of
yesterday s two -point gain. Pennsyl
vania 4Hs, Chcnpenke nnd Ohie con
vertibles nnd Atlantic Coast Line Ts
ntee reacted. Strength was shown by
Nuw Yerk Central debenture Os, Kan
sas CItv Southern Cs nnd Central of
Georgia en.
While the week was replete with im
portant nnd interesting happening ap
plying both ns te the domestic end for
eign situation, it is extremely doubtful
whether the general performance of the
market could be directly or Indirectly
associated with any of tlue events. AN
tneugii continuing te display an almost
unmistakable upward tendency, the
linger prints nnd trade marks of peel
manipulation were tee obvious te he'
overlooked by even a disinterested nnd
Inexperienced layman. Thin fact does
I net in any respect belittle the potency
of the constructive movement, ns the
preliminary stages uf every major mar-
I ket swing is Invariably attended by
1 such n fnmilinr jockeying process.
Nevertheless, the movement in the
main body of stocks has apparently
' reached n junMiire wherein the question
'eclcnlly arises vs te whether the dem
onstratiens, IndUVtmlly or collectively.
In the various scleSted Issues have net
ever discounted nny recovery in busi
ness nnd industry thet Is Hkelv te occur
I during the first hnlf of the current year, i
Possibly It would be better te say the i
i immediate future of the market or thei
maintaining of the existing level of.
i values or it possible higher level will '
depend very inrgely upon the position
of the peels nnd ether speculative com-'
binattens largely responsible for the'
e'evating process. The easier money
market condition unquestionably is a
strong ally fur the speculative com
binations, nnd every one rececnizes the
relatively low leaning rate has supplied
n powerful lever for peel operations.
Tiiis, in a measure, from a market
technique, is te some extent offset bv
the conspicuous Innblllty te attract the 1
much desired outside following. Much I
the same ns u steady diet of some par- j
ticulnr prescribed feed finally becomes
nauseating, likewise does the experi
ence of holding the bag become irkyerr.?
te peel members. In ether weri;, re
one as yet has been successful,? ab
te raise himself by his own dee; -:r.i-
This does net mean te ir..p
.
ji
de reliable signs suggest, the cer.-:r.v
tive i.ieviment has ended, tut '? ;
sitien Is approaching u herein J: l
necessary for n partinl distribution a:
least of the peel holdings before th
forward swing can attain much gr-utT
momentum. There has been, and will j
continue te be, peel -distribution of;
specialties, under the cover of th
strength nnd growing favor of ether se- .
ln,.tn.l tuanau Thla n.npnui! mnt- Ka cn.ui.l I
'nuWrVd "'W Period and at times' .iv.
March l. iit. of a eufticient numt-r of the appearance of irregularity which
ltie'l.acrtnt'TrfcfJejJxcd'r'Y1' th UmC th"uBheut
30i per cent and ai-crued Interest. The rlBht I tne lnst eCK.
1m -krd TO reject any or all nrniw.n'. In I Ikntlili, if inn T-lnrknt ittttAf .nn. i
tfcele e. in Pft. s'-alt'l prnpesala. etatlnk .Hrlens continue te Imtirevp stni'l'l-
t'the nwitr of tirda ti:.rl and mrk d i ", ' , S , i"ipnii sir.ii.u,, re-
lJrore?.e iir .ne -.iiu i LrtianeR niiey ueeuuK iiiii,iii-i 1,4111, inumi"". ,:i 11
reciHistructien unin ut immi and abroad.
VALLl.l IKON t Trn
ki. raT mokigaee te-YrB six
1-EK rENT SINKING IX'XO nni.ii
JMIVT.
Xetlce ! bertty clven that pursuant te the
tntliic Kand prov.Uen -if the above Mort Mert
race Ciitei March IV 191. propeeals will b
received at Ibe OJlice of the Commercial
Iren Stw. utapiny Mr; Mortmice SO-Year
, blx l"r vr.i p.ik -u 1 una ueiu tundi '
! 'aheuid t pree n.l tu th undrli:r.ed bfeie
12 r"cleW ni. illesd.e. trbruirv 31, lU'SS.
COSUlEBCll Till sv Cflll.NV, Tru.le.
-"" HEXRY C 01USON. Treaeurer.
"j-OTICK T(l II(I1J(:KH OK .MAUV'U.TJi
i? IJOIiriMi CO. Jirnt .Mpruaite 6 l'er
, Cnt l"klnB rund de Id Uends. Under the
Hlnklnu- l'unl .pruvlalnna of the mortgage
- ren.ed propesabwlll be received until 3
a - h M lM..Aa QU thili. -a
itfTlee et The I'ennajlvanln Company ter In
, aurancea en Lives and Or'.ntlnir Annuities,
Truilee, ter ire aaie, 10 11 ;ii me leweet
i.n nn, vriillnu lOA Ann nppniBil lulu,...
I of aa m.-xny bends aa 11470.00 will purcn.me.
All proposals enuuiu ug uuurc.Bea lu tne
tinderalcned.
THt. I'KNN.Tr.VANIA COMPANY rOR
INaCHANCKS ON I.IVI1S AND
UHANTI.NO ANNU1TIKS
517 Chettnut St Pnliu., Pa
"Propesi.a for flnklnir rund. JIar-vll!
I.lehtlnif Ce."
X
Annual Meetings
KaiAMiu kiii. iT.n: ami tkim-
((IMI'ANV
KuHewim; elusf-ly (111 tile heels cf t',e
iec"nt renin livable re uvtry in sterlii.g
exchange, the reduction of th.- Unnk
of Kngland'H discount rate furnlsheil ,
conclusive proof of rapid return of a '
condition of normalcy in the world's 1
money markets, foreshadowing nn early
ie-estnlllsnment 01 tne equilihrium of
the foreign trade ranch inery whlh was
thrown out of kelter by the war con cen con
dltieiiH. The Soldier Honus Hill, which
a week age threatened te undo all thnt
which had been accomplished toward
bringing n business recovery, is no
.encer regarded us a menace bi-cnu.e
of the firm stand taken by Pu-sid'-nt
, Ilartling. and the latent W'usliingiun ad-
vices point tj the pesslblu hh' 'ving of
the bugaboo.
NEW YORK BANK STATEMENT
Trincipil Ollire. lirend .street Matlen
I'niianeipnn. ipiii furuary, tui'L-. ' '
The ANNUAL MUHTINO uf U. sicclftu.il- n.flrle nf tir,?7nnn I. 1 r
ara of this Cemimm. und an .''wtlun for De'lct OT l,tJ,UU0 of Legal Re-
Directors te serve lur me ennuini; year will ...u. Rrnnlmmiinli nn.nu. 1
be held at thin cnire, en Tueda, 7th MurcL, ' 8erve requirements Deposits Jump
A deficit of si..j'J7.000 of legal .e-
11122. .it 11:1(1 o'clock. A. M.
I.KWIri NlII.SON.gecretarv.
C3rvAnraur. iicil.
" IT
r.hTATE L'lliiwvv
rinciiil Onice. Ilre Ml Mrn-t s,n,tn.i
l-n iRiieipnrt. inin I'enruiry, 10L'J
The ANNUAL MKKTINO of the StoclAold SteclAold StoclAeld
ra of thl Company, and an elfctlmi for
Directors te crv for the eniulnir eai. will
be held at this elflen en Tiiesdu), 7ih Marili.
IMS. ut 1 1 -SO o'clock. A. M.
L'-WIS NKII.SO.V Sfcretnrv.
e
PriMHiwuU
1
.':
.
$ niK I'l.lNION (I.h A EI.KOTItlC t OM.
, "'ANY. riKST MORTUAfiK 04 sa
y YKAIt 0I.I1 IIOMIS. " M
v. ?itlr.M Is llsrebv L'llen ihnt t.h.-u.. .- .
t" .t- .:. ........ .,, m,t;.. ....:.'. ';""" v
fc? the terms of the Merlhaire dated Nei'ember
A 80. 1U7. Rnd fcupplement th.-retu thg under- iKxn
V .icned. as Trustee, Invites len.i.r- ...... V..r.
,1 171.: " TI..-J- frt- l . j" ,"" " t " Kii'-,Ain I"
.vj?iSt.ri ?.rl;r ni ,e "ViM'cSiS m ..un.
:rued Interest te tlic exi.nt of 3 000. I member bnk,
"u:L.avai fi"'" n..lh.M Sliiklnl'mi: lies In men, bn
eh r i
li'i'r.ir.ilu t-u4
March
and ace
,J,e.,"r". "".".. ".rJu'"in.l".M H''.""i-- I'uiid. Ues In mem bnks
?ru. Company. Trusu". aeun'.0 e?'r'k R'" m """mit
lna Fund of The Clinten On i & lJlectrJr 1 ban k a m.l trult
Company Ilnnds. .Market nnd ThlrteenTh Smnm f
ritreets, Philadelphia. lll b rece ved uSlii nes in Htat
Uu. o'clock P. M.. IVI.n.ury 34. lOia'" nt'a"nk'"nn tfu.t
ijii. wuuaiaii nasi cy.MPANY, cunipar. ilepcilt
.......lruBU" 1 Net am neps
I'TtANk C. EVKS. Treasurer. Tlme depeelta
I. II (JUt-lllUll
serve requirements was shown In the
weeisiy statement et thi New Verki
Cleuring IIiise Institutions, making
the second week the banks hove been
under the resime requirements. Leans
und discount showed a contraction of
if IO.7iiO.lrOO. while net demand deposits
increased Sl'II.MKi.OOO. The increased
liabilities offset tlie increase of .'f'J.lKlO,.
iKtO in reserve rredlt at the IVileral
Heherve Hank.
Detail" fellow :
avkisaisi;
rtits wn, I,U Wi-fk
111' IIS3 L",lu tll.rilO.3Ml
6U1 117(1 lexl r.lll aiis.oeu
1.414.77.', ui)u 4.117 lib.OiV)
I'd.b.'.OOu
C03.330.OOU
T.ats.oce
lll.Ull.OO0
43.H71,OO0
7.013,000
FOREIGN EXCHANGE
2 New Yerk Feb. IS.-- The foreign ex.
I change market opened strong today
' with virtually all the Kurepean cur--"rencles
dlsplajlng an upward tendency
There was considerable demand for bills,
largely for Kit epean account.
Ulie strength continued in the late
R.f,.12.nftft U Ql.l Ann
3 sJ4,iiia.uii() 3,sii,Ho!eno
..imim.iioe S43.I1UO00
aa.fu.umi .s.t -. 1 n .11
United Staled
deposits dedu. U'.I.L'iS.OOO 112,180.000
A.'TUAL
This ivw a
OII.I.1TH.IMKJ
nxcea :ee ucf
Aaiiriiiiite res .
Lnur.s. itc. . 1,37s, ilUh.UOO I.IM.OSS.OIK)
Ci.vh in vi.ults
IlL'.Ilia.lHHJ
Last .k
l.SUV.N'iu
.'02.(100. IXHl
k inein. Iliims
Iteservs In mem
ber banks and
reaorie banks
fl3,OuS,Oei)
forenoon, the lending Issues shewlmr' 1'"T, '".. !'-2
further advances. S,erllnU' cnbl!wenri; Sanf- ""
4,3i!)s, demand l.ndTs : franc cables Hw" In htau
168.105,000 Isrt.ns.OOO
15.7S, 1
8.0314. checks 8.IMV. ; lire
checks -l.Ii' ; peseta cables
checks 15.711: marks. .-ISM.
CVntrnl Kurenenn ,Yi)inim.
x.ir.r. u :cv:.. ',;'"; "'"it
sxreva,
and trust
1.1 . . .... hunu.
caeics -l.!!.!, .i'pany deiesl-
.537.000
li,l78,f00
7.720,000
8,703,000
.!,04
cm
k, l.fi"; Serbian, 1.II1 ; Finnish. 1 circulation
; Polish. .0m-,: Austrian, .021)0 ''. H.
garinn. .15; Hulgarlan. .72; Itu- M'KWti
Ian. .SI; Czeeho-Hlevaklnn, 1.80;
-Hlnvliin. ,:i2',a. RA
Wngarin
Sitnln
urn -I
j VrVR ' luciiiiiiin in .Montreal te-
iiSrxErafeilay en -ew leris tunds was .1
WJ ''ltT", Mttnl- The i
tnr.uM
Vat ileinaiifl dfi
poelts S.SSil 121 000 3,R0.',,23t.O00
me ueiiesitw .iii..iiiii.iiipij VAH.NiH.rii.n
.. oe,.iui,uiu 33,450.000
posits
OO.TR3.00O 142,300,000
per
'i'!blX:, rent. The rute of discount In V,m
w .iy ' i- ... r....:...n... ...., .... j"".
pwjj erK oil uiiiiiiiiuiii iiiiiiiH was e'4 per -uecrci
K!Wtli?JU TODAY'S OPHVIXO OtTfiTATfllVrf
T. Utcrllncr FrancM Lire Qullders
ana ..,.. i.ausi it.vss .vi 8T.3
,...1. S.37S H.IH 4,02 07,70
CLOBINQ QUOTATIONS
ILROAD EARNINGS
iJANAUIAN l'ACIKl''
11122
Fecund ,viek IVb . S2.imi,iinr
Jan 1-IVb, 11 111 H.i.ii
nir.
In HUrh
Adams Expren ...... U
.. AJax Rubber tl
Allied Chem Dye... Y
4 Allle-Chalmeri ,..,,,, IH
4 Am B Shee Fdy new.. Hyi
. . Am Can Mf4
T Am Can pf
It Am Car ft Pdy 17 J4
.. Am Clilcle A
. .Am Cotten Oil 31
8 Am ExprcM Its
.. Am Hide ft Lcather. . 14
. . Am Hide ft Leather pf 44 1
T Am Ice . . . tt
fl Am lee pf M
., Am Intern At Cerp.... 4t
1 Am-La France Enf.. 4J5
Am Linseed tlVi
Am Locomotive HtH
. Am Safety Razor. ... 4
. . Am Ship ft Cem It
. Am Smelt 4t
V Am Smelt pf tOH
t Am Steel Peundrle.. Stli
. . Am Sugar Kef 44 H
T Am Sugar Ref pf. ...
. Am Sumatra M
Am Sumatra Teb pr. . I
t Am Tel ft Tel UIK
tt Am Tobacco lit
It Am Tobacco JJ Ut
1 Am Woolen 81H
7 Am Wholesale pf.... 10
. . Am Writing Taper pf t44
.. Am Zinc Lead & Smlt 1
. . Anncenua Copper . . . 4H
4 Asae Dry Goods 44K
A Asse Dry Geed im pi 74 VJ
5 Atch Tep ft Santa Fe. J!4
0 Atch Tep & S P pf . . . . BH
.. Atlantic Fruit t
.. Atl Gulf ft W I 8 S.. 24Vi
. . Atl Gulf ft W I 8 S pf i'A
7 Atl Kenning pf 114 ft
. . Austin Nicholas . . 17
7 Austin Nicholas Ine pf 76
7 Baldwin Locomotive .100
.. Baltimore at unie.... SO'
4 Baltimore A Ohie pf. 44H
.. Batepllas Mining....
5 Bethlehem Steel B.... 63K
.. Brklyn Rapid Transit 10 Ji
. . Brklyn R T ctfs of dep HJi
.. Beeth Fisheries 0J4
.. Burns Bres A 114 Yi
.. Burns Bres B Vty
7 Bush Term Bldg pf . . . 13
.. Butterlck 315a
.. Butte ft Superior COD. MX
.. Cadde Central O ft R. 10 .j
.. Cat Zlne & Lean e',i
6 California Packing .. 74)4
. . California Petroleum. 48H
10 Canndlan Pacific 130
.. Case Plew Works.,.. 3J
. . Central Leather .... !3
.. Central Leather pf. .. . 40 bj
.. Ccrro-de-Pasee 33H
4 Chandler Moter . . . 43!4
.. Chicago ft Alten .... 3
.. Chi ft E III (ncw .... 1W
.. Chicago ft Gt West..
.. Chi Mil ft St F 20
.. Chi Mil & St P pf.... 3
5 Chi & Northwestern.. 07Ji
. Chi R I ft Pae !
4 Chi R I ft Pae 6 pf 77'.;
.. Chile Copper 10i
.. Chlne Cenner '6W
100 . 00 Clev Cin Chi & St L pf 1U
3')9 4 Coca-Cela
100 .. Colerado Fuel ft Iren. 37
700 s Colerado ft Southern. 44i
7J30 a Celum Gae ft Klec... 77
3000 .. Celum Graphopheno.. '4
200 .. Cot Graphophene pf.
200 4 Cemp Tab Hec
200 .. Consolidated DIs Ins.
700 .. Consolidated Textiles
7iW 4 Cem Products Iter..
Sale
am
440
440
700
14
1440
140
400
400
140
100
10O
400
440
440
000
100
400
7400
400
11400
300
100
1400
300
100
2400
400
3400
100
400
400
100
700
100
1400
400
100
300
00
lbO
200
100
tee
tee
200
1JS10
00
100
000
2400
3308
390
gee
300
400
200
300
700
100
200
700
300
704
100
400
600
200
1390
COO
300
100
300
."no
200
1230)
300
009
!30
TcaMr Net
ciete v;na.
a im
Lew Clete C
141 4t
Kg fflfc
700 S.SO.Cosden & Ce.
590
104
1400
1390
4794
1414
1M
1W
244
4-M
IW
till
411.1
Mil
ill
lw
1M
1M
111-1
194
SW
((
110
lis
240
39
10
190
919
12201
100 ,
109
2S90
20)
1511
1103
01
390
100
700
100
390
200
39tt
100
1VJ0
400
1990
1700
4000
1100
10(1
211
100
3100
600
Total s
JS
, C0!i
12U
143H
34T8
m
82
l 4
10!4
4 Crucible Steel
7 Crucible Steel pf...
. Cubnn Am Sugar ..
Oiih.in i.'sre 2-uirar
. Cuban Cane Sugar pf 24 5 j
. Pavijen Chemical .... "
ly'JLes ft Hudsen., lllj-i
IZ Zi'x. 4 Weetem.Hli
Tr & Ce af 43
1 "trJi". SJUert 104"ii
21ic Hcrr: Ceat 1
Irr.iiracc-Brii's ?t. 23
I -nil:iM-.-Jfcr.H:ti W--
Xr. 1J"j
Zru .Ji ;J ;8
I Timeiu TMers L-... lvi
4 "j.',-.-i4 Ifu-. & Sra.: pf 3s U
7r;cr; Ttxxs 1 Ji
Guwr. wrr- & wig.. m
.. G'3.-a! Asphalt
Gr.ral Electric
.. G-r.rai Meters
6 Q.a Meters deb 4...
1 Gen Meters deb "..
.. Goedrich B F
7 Great Northern pf . . . .
4 Great North Ore ctfs.
. . Greene Cananea Cep.
. , Guar.taname Sugar . .
.. Gu.f State Steel
. . Htrblrshaw El Cable. .
, . Hendee Mftf
3 Hon.estal: Mining' ..
.. Housten Oil
.. Hupp Motorcar
7 Illinois Central
.. Indlnhema Hef
.. Indian Refining
. . Interb Cen Cerp
.. Interb Cen Cerp pf...
. .. Inter Comb Eng
3 Int Harvester new....
.. Int Mer Marine
A Int Mer Marine pf . . . .
i.i.rMt Motertruck..
"l Int Motertruck 1st Pf 70
International Nickel . "ifc
. . international Paper . .
.. Invincible Oil Cerp..
.. Iren Product
., Island Oil .
,. Jewel Tea
. . Jewel Tea pf
T,.m,4 Itrcm Tea .....
.'.' Kansas City Seutueru 24
.. Kansas & Gulf...... ?t
v'llv.erln.:neld Tire 37
aie's. 323,000 sharis. compared Willi
42A
no;;
bH
C4?i
HI
37 H
74VJ
zsy-
24
7
7.T.2
2Mi
15
41
77 W
1?i
93
4
Ji
2J'
H .
24 54
85
IS
73
27
48
1 U
8 W
2
17 !i
474
311
44
44
14H
7H
2t
183
14
44
411
80
K
V
33J4
1MH
4
H
45K
H
at
44
W
244
42 U
no
134
131 J5
83
40
23!'
1SJ4
4H
44 !4
7I4
8514
24
24 J4
l yi
115VJ
17
70
104H
33H
54.,
V
B2U
7
0
1I3M
' V
03
30 Ji
24
10'i
&yA
73VS
48
124 !t
3-e
32 H
eH
43
2N
14 H
20
13Ji
67U
" !i
70'i
14H
24
2?i
45
27
!i
74 V
is
Ji
C6i
M
17
lOUi
34
43
82
IV U
10
25Ji
57
11154
11114-
42 Ji
104
15
23
7 i
1I
I'V
b04
U
!
41J.
ISOJi
8H
44 ?i
81
37 H
75 Ji
"5i
25J-4
74
7254
ir
41
15
HJi
OS
IJi
7i
2?4
8
24 J4
85
16
71
24JJ
44
13
7
13"s
30 Vi
Mi
10JS
37 !4
C.IVs
23
Vi
3li?4
710,200
44M4-
TU- l
1MJ4 IK
tt 4- J4
80
11 'H
44
MM- U
Mt
4 H
U
4U4- ti
1- M
4J-
110 4
114 4
143 -
H
e -saji-ian-
74)4
4J4-
85J4-
3
MJ4-f
17
74
104 X
30 U
M
54
1J4
54
H
54
Ji
t- l
t-
eaji-r
10H
8J4
6 -
11454
8854
S3
30J4-5-2054-f
1054-
5'i-
7354
48H
12BJ4
354-
33-4-J-
oe J4-
33 14-
03 -f
3S-
15H-
94
20
34
754
38
7754
B2J4
45
37
44 ti-
70 3
2 54
54 Ji
06 54 li
H H
13 - Ji
103
34J4
41J4
82
10J4
10 4-
24J4 114
OS -- 1
lllj
ll 154-
03 4- 1
1044
15 -
23 -
7454
10H l7-
81H
54
425i
160J4
8H
4Ji
81
37H
25J4
74
73 -
256
15
41
7014
14
08J4-
2J4-
24J4
85
15
71
37
70
1224
48
154
814
U6
17
W.i-
!&y2-
23
t,J4-
37
shares
Ji
Ji
54
1
54
54
8
a
54
H
54
54
54
54
"54
54
35i
Ji
54
"'ji
H
54
54
54
Ji
Ji
Ji
Ji
54
Dlf.
Bale Int
set-te
TWeV ,Kt
Va 4nA(ktl C8ll
.. Kenneeatt Cern.... WW aij M V4
.. KeyateneTAlt 1 MM ; M
9 KFCBffA S Diiiisixatllf
.. Lackawanna Steet .. 47J4
. . Laalada dm nt t t.. . II
MM8.80 Lehigh Velley 41
a in ijig-mit ft Mvera leavk
t Limn Locomotive M
. . Loewo Ce 14)4
1 Left Candy 1H
13 Lerltlard Tobacco.... 144
7 Louisville A NaahvlllelltM
.. Melntvra P Mine IK
.I!! -c,kay Ce 81
MM .. Manatl Sugar W
100 1 Manhattan !tw tniae 44
11H 1.78 Manhat Shirt 4U
3t
140
110
10
10
240
8200
204
840
494
144
10
100
34
MM
10
340
M.t0 Middle State Cerp... M54
OVf
290
SO
1440
Marlin OH t54
.. Martin Parry , tJ4
.. Market St Rwy pr pf 47)4
.. Market St Rwy 2d pf 11
... Math Alkali 81
. . Maxwell de B UK
' 8 May Dept Stere 144)4
It Mexican Petroleum ..IttH
Mexican Petroleum of 83
Miami Copper 34H
Mldvale Steel 80 H
.. Minn ft St Leut .... HH
.. Me Kan ft lex. tM
.. Me Kan ft Tex wl).. 10 H
.. Me Kan ft Tex (wl) pf MJ4
.. Missouri Paclfle 14J4
.. Mo-Padfle pf 48H
. . Montgomery Ward . . . 13J4
.. Mull ins Bedy 34)4
. . Nat Cleak ft Suit .... Ji
Nat Enam ft St .... 40K
. . Nat R R of Mex 2d pf "14
.. Nev Cen Copper 13)4
N O Tex ft Mex .... MJ4
rs Y Air Brake Ji
00
0
144
800
100
100
400
100
24
00
100
100
1540
ICO
100
100
340
300
300
H90
300
1400
3100
000
00
400
700
300
300
300
500
00
400
100
400
100
100
100
300 1.30 Pend Creek Ceal
200 . . Pressed Steel Car . . .
100 .. Producers Refiners.
200 4 Pub Service of N J. .
300 8 Pullman
00 .. Punta Alegre Sugar.
vu 8 fure QU
100 .. Ray Cen Copper
aav ncaainr
100 .. Replogle Steel
100 . . Republic Meters
000
4)
S New Yerk C ft St L. . 48)4
.. raw Yerk N H ft H.. 17H
7 Norfolk ft Western . . . 144 5i
8 North American ctf.. 47
8 N American pf ctf.. 41J4
.. North Amer rt...... 7J4
7 Northern Paclfle ... 74)4
.. OMa.Pred ft Ref .... 3)4
.. Orpheum Circuit .... 14
9 Owen Bottling 3
8 Paclfle Oil 475.
a Pan-Amer Petrel .... 44 Ji
' Pan-Am Pet Class B. 4H
S Pennsllvanta R R.... 344
.. Penn Seaboard Steel.. 81
0 Peeples Gas Chicago.. 764
.. Pcre Marquette 324
B Pere Marquette pf ... 57 H
8 Philadelphia Ce 34
.. Phtlllps-Jenea 47
.SO Phillips Pet 32)i
.. Plcrce-Arrew Moter.. 1555
.. Pierco-Arrew Met pf . . 304
.. Pierce Oil 8
8 Pierce OH pf 47
0 Pitta Ceal 40
0 Pitts ft West Va pf.. 70J4
14
44J4
24)4
78J5
117
38 J4
33K
13J4
75
34 K
a
Republic Iren ft Steel 62
1400 B.SO Royal Dutch NY.... 61
700 .. Rutland RRpf 23?4
440 .. st Leuis San Fran .. 24
200 ..St Leula San Fran pf 44
603 . . St Leuis & S W R R 25
390 .. St Leula Southwest pt 3S'..-,
100 1 St Jeseph Lead 13J4
300 . . Saxen Moter 2
400 .. Seaboard Air Line .. 4J4
00 .. Seaboard Air Line pf 74
0 .. Scars-Roebuck (3J4
5100 .. Seneca Cep Cerp .... ltJi
100 .74 Shell Transport .... 84 H
700 .. Sinclair OH 14 54
200 ., Sless-Shcffleld 41
2300 g Southern Paclfle 84 J4
1600 .. Southern Rail 184
400 .. Southern Rail pf .... 51
4140 4 Standard OH of Cal.. 8
400 s Standard Oil of N J.. 17
2104 t Stewart Warner Speed 34
500 7 8tudebakcr MJi
100 .. Submarine Beat Cerp K
240 .. Superior Oil Cerp .... 5s
500 .. Temter Cern ft F "A" 2!$
lfcOO 3 Texas Ce 45 Ji
00 .. Texas ft Paclfle .... 30
340 l Tex ft Pae C ft O . . . . 26J4
12$ . . Texns Pae Land Trust400
200 5.00 Tex Gulf Sul ,..44
200 .. Third Ave 22
100 8 Tidewater Oil 12J4
1100 e Tobacco Product .... C3J4
300 . . Tel St L ft W pf ctf B 34 H
00 .. Transcen OH 10
600 .. Union Oil 10J4
000 te Union Paclfle 181
100 4 Union Paclfle pf 73 Ji
200 3.00 United Drug 1st pf . . . 41)4
nun s unneu rruit. ieti;a
3100 e United Retail Stores. 64
1100 ..USOII'i Fdy.... 25)5
40U ..US Feed Products.. 354
800 ..Us 'ml Alcohol .... 44 J4
100 ..US Realty ft Imp..., tllji
1400 ..US Rubber 54Ji
840 BUS Rubber 1st pf. ... 04 VS
14100 BUS Steel 01)4
640 1 U S Steel pf 114H
340 8 Utah copper Vi
840 .. Vanadium Cerp 34 Ji
440 .. Vlvaudeu Ine 74
100 Va Iren Ceal ft Coke. 60
300 .... Vlr Iren C ft C pf ct 70
440 .. Wabash 7J4
390 .. Wabash pf A 21J4
100 .. West Maryland 2d pt 144
800 .. Western Pacific IS
100 e Western Paclfle pf. 67
100 7 Western Union Tel .. 1K
0100 4 WeutlnglieuBt JZ & M. 65
100 .. Wheeling ft L E.... 0
1100 .. White Oil Cerp 04
100 . . Wick Spenc Steel Cerp 14
400 .. Willys-Overland .... S
700 .. Wlloen ft Ce 37J4
yesterday. Thus far this we'le. 3,280,000 shares.
IN
tK
a8
14
144
150
HtK
3J4
81
48
44
MH
3K
v&
11
81
UK
144
1154
88
34K
18
. 34K
8
21i
14J4
34
."54
48 Ji
13)4
34)4
34J4
40J4
3J4
13J4
1
4J4
8J4
174
100)4
67
41)4
7H
74)4
2J4
154
27J4
444
5354
44 K
34K
7J4
75)4
33)4
7)4
334
44
aiji
15
seu
7H
47
00
754
144
4
34)4
78)4
11054
37)4
33)4
13J4
744
844
8
51 i
404
3354
34
434
34 ?4
13Ja
4
755
354
13
3H
1
40J4
MH
18H
40)4
7H
178
83
35S
4Jn
'Ji
2Ji
45
se;
254
880
34
22 Ji
124J4
42)4
84)4
K
1
130J4
73 54
41)4
137
43 M
24 Ji
3)4
'!i
OlJi
63 J8
40
00?.
11454
41H
34
7)i
60
70
7
21
154
154
67
IK
04
6W
5-i
. 14
U
37
it ;k
14.i1-'iK
44 - 154
14
Mt H
UtM- lU
M
81
8J4f M
441
34K K
2K T4
37K- VK
47K- H
u -
81 54
UK- Ji
145f
120)4 K
88 -i a
3K- !i
18J4 ..
3K K
8K- H
3K ..
1K -.
30)4 54
18J4 K
48v4
13)4 K
3U- J4
84J4- )i
40 Ji- H
3J4
18)4- 54
01T4 7i
69J4- 54
854 ..
17H 54
1M54 54
47J4
41J4 ..
'7J4 14
7!4 54
3J4
M 54
28
4754
4Ji 1J4
44H Ui
BROADER DEALINGS
IN LOCAL STOCKS
Number of Developments of
Material Importance Are
Impending
NEW YORK BONDS
84-4-s-s
75)5
33K
57)4
34
14)4
47
40 -7454
144-
04)4
38
.
74 94 ,
3054-
5
63
504
28
24
43J4
244
U8'i
13J4
3
4
74-63K-13J4
34H
lJi
41
84J4
178
54
54
ii
K
54
54
2J4
54
54
54
54
1
54
'J4
K
IK
54
54
H
54
n
54
3)4
54
Ji
!i
v.
Ji
Ji
Ji
54
1
54
K
Ja
1
1)4
23)4 1J4
t4 ?i
454 S4
Ji ..
2J4- Ji
45 - J
30M K
2 54 !4
400 15
44 IK
12K 54
134J4 3K
3 J4
34)4 ?
4
10 -131
?.SJ'
4lyi-
188)4 l)i
ai )
25!
3'in
.K
01)4-
04J4-
sa -
00JJ
UOK
0194
34J4
7K
60
70 -7Ji
31J4
144
10
83
1K
?4
04
oh eh
14 3
37 J4
Trading wkr uncommonly bread and
active for n Baturdy in the local mar
ket. The tone of the entire Hit wn
decidedly strong and advance from
small fractions te ever 0 points were
reglirered. the wider chances occurring
in the Inactive stocks About the only
prominent issue failing te join the re
covery was Electric Storage Bettery.
On tne ether hand, American Bteres
regained n point and American Rail
ways preferred retrieved yesterday'
less of ft point with another ' pein
for geed measure. The utility group,
with the exception et Philadelphia
Kapld Transit, were firm and fraction
ally higher. P. R. T. continued in Hup
ply, causing a recession te 23 Vt- Ie
high Nnvlratien nnd Lehigh Valley
were also strong and reached the top
price of the week. An advance of
nearly 2 point in American Ship was
nn outstanding feature of the inactive
list, which wan followed by n uyrepa-
tunic rise of 4 points in Cramp.
unore are quite a few impending tie
velepraent 'of material Importance
which nre likely te have considerable
influence upon the future welfare of
local corporation. One of these is the
outcemo of the present controversy be
tween the se-called insurgent directors
and the co-called Mitten management
of the Philadelphia Rapid Transit
Company. The contest for proxies for
the control of,the annual meeting will
end en next Tuesday, when the trans
fer books of the company will close.
On the same day en which the P.
U. T. stockholder will vete en the
new directors, the shareholder of the
or reject, the proposed conversion of
the two preferred stock issues of that
company into common stock. There is
new outstanding 50,567 share of first
preferred nnd second preferred stock
nlterctlicr. nnr vnlne Sinn ev. mth-dpI
Ltnis at the rate of 1 1-3 Rlinrcs in com-
inen srecK or no par value would re
quire 07,422 shares of common. As
there are 7700 shares of the common
1 V,-fESJaury-tl,e proposed increase
Of 100.000 shnrOH of Mmmnn temilil
leave n balance of approximately 00,000
numc-i ei common avanaoie rer future
CUPital reaulrenientM of thr. Miimiin,.
Other dcvelepmcntH comprise court
iicui-iims in me ueaaing ijempanv scg-reBinV-n,nn(,,.,hc
PU'chnse of the Lehigh
. "Jlfcs-Ilerre Ceal Company prep-e-ty.
The feui-r may be handed down
within a short time by the United States
Supreme Court, but there are some in
terests which hove made a careful study
Of the CSNO Vhn hnllenn ll,ln,lnn 111
be continued for a number of years, no
matter what mey be the verdict of the
1 ii, lranen " Priority ns te dis
tribution of assets between the common
and the preferred shnrchelderh. The
Lehigh and Wllkes-Barre purchase dls
I'll te Is somewhat complicated because
of the liesslb.llty of the Government en
ill"? i t0 7hc cn8C J' ,8 rare than
;-.ijr umi. me court win be great y in
ment toward the sale.
:-s
Si
H
2Ji
..Wheat
May July
Corn Cern
May July
Oats
May
Jluy
Per!:
Miy
La rd
May
July
Itlbs
May
July
GRAIN MARKET
upen Hlirh
lis Meu
rAw IIa.
Lt I JXi . i7. .S..UM
1.21VI 1.23fi l'.srje: 'mB
021
tltS
1
fil
C3
n
8 sa$
u
..21.15 21.20 21.03 21.03
..11.0."
..11.00
11.72
11.02
11.07
11 77
.11.40 11,42 11.40
11. S3
11.82
1.42
11.25
COTTON MARKET
Test, close. Open Hla-h Lew Cleso
Mch... 17.KO 1T.0S 18.22 17.01 18.186 22
SK- 4V8S t'IS -K JJ'?2 !!-?!8?-oe
gar..: 10,57 f.i.70 i:;s u:tf ti:ti$
Dee,U; Vlil 10'M 16-68 10-00 ltf.3W8S
Art R-P" Bi
Cana'n Paetfle
CtDtn
2..... 78
1 74
8 774.
1 4 4 4 4 TB
9 T8
Canadl'n Nthn
flUa rata'
10.... 14454
Canadian N 7s
14.... 1094
Chile Coe'r 4s
a 80H
B 88 U
n..... 44 H
2 MH
B 8BH
4 444
City of Dertcn
8 ret
2.... 100
2.,.. 1004
1.... 10854
1.... 100
a.. i. no
city Herd's 4
l s
a 80
3 88H
1 84)4
1 88 H
Cty of Ceptn-
haaen BH
1 88
1 8SH
1 88U
City Mars' 0i
7 BSU
1 88
0...., 8U
4 83
Cty llle da Ja-
nene m
7.... 100 U
10.... 100H
1.... 100H
1.... 100H
10.... 101
0.... 100H
City Zurich Hi
1.... ioeh
8.... 110
Cuban CHcv
1 70
111 70
3 7754
Cuban C 8ux
81 It
2B 7H
17 70
1 70K
1 70H
Cub llaltreal;
Ce 7 Via
1.... 100)4
1.... 101
21.... 101
8.... 101 '4
2.... 101 M.
Dt of Keine 7a
3 00U
1 OOW
2 O0H
Dem H-p'e 01
1 ss
1 87T4
ft 87
23 88
0 874
D Canada '20
1 07i
D Canada '20
i navi
10 OSS
1 f8!4
D Canada '81
1 00H
Dutch K I'a 6s
04
04 S
04 H
04
04
04 i
2 04
Oeve't Trench
11 7'tH rets
"SAL-OB IN 116491
1.... 1074
K Bets!! rctf
i :. eh
1.... 104J4
.... 104U
nClrndem Den-
B 04H
7 04H
6. . . . .
1, ...
3
1
B. . ..
a
Rlnsdem Den
mark et 4
1.... 108H
1.... 108)4
Kingdom Ner
way et 8s
1.... 10OU
1.... 1094
K Sweden s
1 07 H
8 P7H
7 07K
3 07 H
9 em
7 01
1 7V4
Queini'd 0i wl
1.
1.
IB...
1...
0...
1...
10..
4...
1...
1...
'J...
1...
2...
12...
3...
71...
00
00-4
004
04 Tt
004
084
00 4
064
00H
80)4
ea
07
04H
4U
04 H
04 V,
04 U
04 H
B...
4...
a,..
7...
1...
4...
2...
IB...
1..'.
0...
1...
8...
9.
0T
07 H
07 tt
07 tt
07tt
07 tt
07 tt
D7tt
97 tt
07 tt
07tt
07 tt
07 tt
Queenil'd xt
Lean el 7
1.... 107
Hep Chile '28
1.... 100-4
1.... lOOtt
1.... lOOtt
Hep Chile '41
1.... lOOtt
10.... lOltt
1.... 101 Vi
Rep ChU '40
1...
7.,
1..
B..
1..
4..
07 tt
lOltt
lOltt
lOltt
lOltt
101
Rep'c ef ,Uni'
uay ss
1.... 104tt
1.... 104tt
a.... i04tt
8 Perte Rice 8
7a ret
B 04 tt
State Rie O't
De Sul 8s
2...
35...
2.
!..
s. . .
1...
1...
1...
7.
0.
100
100
lOOtt
100
100
100
100
100
109
tee
10.,... 0314
10 85 tt
am A t Ch ti
I 1 05
Am'n Af e ft
Chtn 7tt .
1.... lOOtt
Amn B R 6
1...,. BSH
4 88tt
Ojj... 80
8 jit &9 H
B7T... 80tt
0 80 tt
2 80 tt
1 80)4
Am-rlean Bus
nr e
8 ill?
S 87 tt
14 OTtt
8 7tt
4 07H
31 07
B..... 07tt
A Tel ft Tel Bf
1 ,
4 00
4 00
A Tel Tal 4e
1.... 1I1H
4.... 1UU
1.... H1H
J:::: JUS
1.... 11154
9.... llltt
Am'n W P 4s
1 82
B 83
Armour 4tt
1 8tt.
2. ... 80)4
A T A S Fe a)
A 80K
A T ft 8 Fe 4
8 87 H
1 8Ttt
4 87 tt
Atch T ft 8 V
4 '09
1 0T
Atl Coast L 4s
1 87
A C Line 4tt
35,.... 88
Atl'e Fruit 7
4 37
4 37
8 97tt'
A Powder 7 tt
1.... 103
Bait A Ohie rv
S 70tt
Bait A O Stts
1 Oltt
Bait A Ohie 5s
2 78
1 78)4
1 78
8 78 VI
Bait A Ohie 0a
10 flfltt
3 00tt
2 00T4
Bait A Ohie B
Wn Stts
1 88'
Bell Telephone
or ra 7
2.... 108
B Steel S 'Sfl
2 88tt
8 88V4
3 884
State of Bae F.an Copper
Paule et 8i
1.... lOltt
Swlta'd Cen 8s
1.... 114ft
4.... 11B
1.... 114 tt
1.... 114tt
U IC art Brit
A I'd 1022
3,... 103H
22.... 103)4
100.... lOStt
0.... lOCitt
3.... 103 V.
U K art Brit
A I'd 1920
Qeve't FUN
103
1014
102
lOltt
lOltt
101T4
101T4
10:
NEW-YORK COFFEE MARKET
5i
Ji
154
ft
54
Philadelphia Stocks
Lew
!:ils
1(1
IS
JI
21
17 Mi
Hlfh
fl-IOAm Stores ii."i
li'JO Am S & (' Ms
WlAni UwJ' !.,
t;."i de pref.. -'2
lOOtAm Write
Paper lf. -l
300 liuff ...
t c uf... -1S..
100t"h& Alten U's -'i
KI7l)uv Chem r.i's fjHys
,-. l'l Mine. 1411 1-iO
WKKrle lstpf 1 1"V
"llnCeNA.il 1i
) M h1 Oil... JM JJh
4f3 I.eh Nev. 71 '$
IS.'. T.eh Vel.. C1VJ Vs
eiviV V V II
jj.i -- -- th.'
c nan. ivj
Net
Clese chk'e.
lU'Ji-t-i'tj
i
V,
NEW YORK CURB MARKET
INDUSTRIALS
High
Amur Writing I'aiwr
jr , .
ll
4S
r.HVs
140
Ilnidley ITriproe
Hrlt-Amer Teb rea
i.'ar Light
Chicago Nipple
Columbia Lmerald
U'-.irges Clethes II
I.lbby McNeill ....
Lincoln fotera A
l. mn 1nli.rM
1 J m ! Miss PeNer
. 1,. ' N J Zinc
117b . niiup werris
rtt r- 1. Teitum Cereal pref
.JiT i ! Iludle Cem
-"s-T- lU Itadle Cem pref ...
i(liu L It J Reynolds (new) '
IUITa. V, I Heuthnrn Ceal & Iren
Meti t;e
I Ten I'ren i;xp
17ai if. u d l & II ..
tuihrin
anay
-l i;
Itt
, a
. or.
. intt
:gi!tt
, 7R
. 1BV4
s5
f - i
. 2V
. 21
.1311.
nn;
lls
Lew
l'i
a
.i
llltt
113
ITi
70
13'4
r.tt
2tt
2s
21
1.111
r,V,
11'-
Itarmtll Divide
Iast I Independent Lead ,,
,u Iren lllossem ,,...,
I I Ji reme Verde Dlv
" I ivneT iiivin.t
JiacMimara
0
18tt
02
2tt
70
1.1tt
M,
i'
Mnsum Copper .
.Meiucnn ueppit
"
17
TiOPennaUU ; Wr '"'H" United l'retlt Hi
In iil.ll ,,,. nf :i7Vl :I714 374.. United Retail i-
-2? ' (('';ei. 2-il L'iU I', West End Chen
.ML ' '"" "f - r-T-4? 11717 i!7.. I
'.si l'wirfn 27 Oi 27- 27.. Angle-Amer Oil
-.!... f,i ti II " nV. "Wi 2,'lVi Vi, Atlantic Iels
ISO I'liiln U 1 -'jy -'4 -j'-j 0 1-ureka, PL.
3.-. l'hila True lH'u Hjf i'lj'fT .' ' uth PL..
'....."".... 1 ".!,'. i:il. 11U 4- Iao i Keuih Perm Oil
t'.iit-imh-i'ii ... .., 'tn ---.w e
I I
35
lOv'.s
3.7
r'J . .
l!ll -1
00
ii(l 1'nlimTriH l
107.-, r i.... -W
40 de pref.. f.-' .
10 i: Ces N.T.1IU 101
If A' S Steel 00 00
260 W Cramp
& Sens.. '1-J '1
tVet rhang- mad.' by comparison with last
mie en -New Yerk Hteelt Kichange.
Tntal sales. BOB I shares, compared W.h
11.2B4 Vhanel Tjisterdey. Thus lur thU week.
Be'.OSi shares,
PlIIIAnKU'IHA IIONDH
m)v $;&!
iti
. 2)1
. . 3dtt
. .!(
:: ;V-
.. S7
,. H
:: US
.. 7!
HTAM1.UID OILS
x3i8
in
02
no
Stand Oil of Indluna .... hOtt
IMIKI'IUVDKNT OILS
11'
102tt 102'i 1U2VW
M"ether Lede clt
.Nitimnni Tin
Nevada Ophlr
N.plsslnir
- I IlUX LUIIB
tt I Tonepnh Cash l!ey ,
l''1,. .United Kastern '.'.'.'..
vr' I
13
11
111
1
B
H
SOU
32
4N
40
l)
!
r,
15
10
10
s
n
s
80)4
'74
48
40
3's
C.l
15
10
10
3'4
r,
s
8l'i
32
7tt
4H
40
Ctt
7
B
sett att
mi 100
b', r.vS
S4 bl
8
1 11
Btt 5V4
IIONDH
Alllel 1'acker Ob .
Aluminum 7s, 1V2."
Aluminum 7s, 1HS3
Amer Tel Is, 1U22.
Anaconda Us ......
Anaconda. 7s, IP20 .
Armour 7s
Ueavar Beard bs , .
Cul Graph Hs ....
Conn Ceat 6s
Copper Expert Ss. 1023,
. 09 G9 69
.lOltt 101J4 lel tt
.02tt 102tt 102tt
.lOOtt lOOtt lOOtt
. OStt HHtt OR)
.102 102 102
.lf2tt 102H 1024
. 70 till flO
. 34tt 84 84
. HOtt H0H fiOtt
.lOltt 101 ' lOltt
Itiereas.
'1114,1'u.i
I 177,000
IWIO Liberty d 4V4 2".
200 Liberty .'Id 4V,h Hs"'
r.00 Liberty 4th -PAh MS. . .
2000 Kli'i & l'i,(l
lOOl'hlln Klec Int .js ....
1000 l'hlln Klfi' let '
J00O i'lil'ii VMv li-t .1i ....
. Sterling J-ranca Mr Oulldera 101. when
American Sumatra Passes Dividend
New Tork. Keb, IS. The American Hu
matru Tobacco Company has passed the
semi-annual Ulvdend of 3tt per veirt en
rsierrea sieck, out at . tnia time, since
wnen aeierrsd aiviaenas were cleared
la distribution has been naM rs.ularlv
dhrltsnd If cusMlaUv.
Tnoe I'liiln r.U'p (Is
3000 Phllii Lli'.' fit . .
Tutu 1 Sll.hu'J, ceinimreu
Ilcone Oil
Ileniun WyuinlnK . ...
Clti'S Scnlca (old) ...
Cities 8erv,"U" ctfs.,
Cltlea Service pref .,
Creele Hn
Dominion Oil
Engineers I'etrel
Federal Oil .
Olllllund Oil pref ,
Hudsen Oil
Int 1'etrel
Klrby Tet
' Lyens I'et 1
00.84 .Mexico OH
or -: Mutual Oil
IJi'-e' Neble
07. (S (imar Oil ,
llfl.SO renni.it wn ,,
111, Halt Ore.li I'rcd
,'l,'2Ml,,Ulpa Itef
e."Vl
101
-inning i-n
Skelly O'l
MtHlltOU Oil
Texnti
y Oil .
IS
. . 70
..173
.. lKtt
. . 05
.. a:
, . II
. , 55
.. LV
. . 08
. . 33
.. 14tt
.. 24 tt
.. 60,
..' 1T4
. . tl
. . Ill
.. 7t
. . 5tt
. 111.
. . 3
. . IdV,
. . Btt
. . IK
. 55
. . 23
I Oftedrlch Tire 7a
17i 17'-j lOulf Oil 7s
ti!. h't Iluir.ble Oil 7 ,
01 01 Interbem Ss
02 lij Kuyncr 7h
C.11 On Kennvcett 7s
b5T4 bdtt ' Llbhv McNeill 7 . . ,
.il.iminii, runrr is
N Y N l( A II s. .,
17 17 i l'hila Ce 0
?n T-ii . Phil,, Klna M . . .
r n nerv.ee .t j ,s .
Southwest llell 7s . ,
Hun Oil 7s . . ..
Swift 7s. 1925
Texas Ce 7s
Tel Edisen 7 11 ......
I'n Hwv Havana 71 is
Vnciium 7s
Western Elee 7
yikterdiy 'Ihm far this week, f.'tU0.2QO.
. .intH ill- 1
;lth . J7O.I10O ' Ill- f. due
MINING
BAR 8ILVER
Demestic bar
New Yerk teJay at US
eign, ltt c. oft ltte.
was tt 4 .lower at 33',i
silver was unchanged In
uv-tq K
led.
a per nne ounce; I0l
In Londen the price
! llosten A Mentana
liusien aiunt 1.0ns
Candelarla Ml" , , , ,
Cens Copper Mln ,
Luri.l mivcr .....,,,,.
J
OaldOeld Florence 2
csaiantia
Hard Until
Zene
.11 "
Mll,,l.t
21
47
ai
211
"9
10
83
173 17rf
ldtt lhH
54 tt 04
li (1
CH 53
nu- J"
02 08
82 82
14tt 14
24tt 24tt
7 70
1 Itt
U (1
18 18
73 7.1
5'4 r.tt
13tt Vltt
;i :i
Ifttt ll!,
'S r.'.
17 In
fi'l 51
2J va
2.1 23
45., 411
Htt Htt
20 2H
1A IV,
88 88
2B SB
10 10
82 32
Copper Expert Ss, 1024,.102tt 102tt 102tt
Cuban Tel 7tts 103tt leatt IQ'i;
,, wijii 75 U7-4
. 10.1tt 103tt 103S
..101 101 101
. . 81tt 81 Rltt
. . ItUtt HOtt OOVj
..VKlfL 102S 102 V
. . eiitt lei iintt
.. tints 03tt iia'i
. , 80 85 tt 8.1 .
. . 04tt 04tt 04tt
. .1017a Mitt lOltt
. . 07, , li 07
..lllltt llll( lllltt
..lOltt lOltt 10IV4
..jeitt ion! ieiv4
..105 103 103
:: 8W IMS lSi
z - ."r
Mch..
April.
May
June'. .
July .
Aug..
Sept.,
Oct...
Nev .
Dee
Tam
Bid
Open
8.42 iP Ml
slei""
i'tie'
s.'seaai
High
8. -13
s'.f.i
8. ft 6
.8.00
. S.A20C3 8.03
e.u ., , .
Tfseminai. Trade,
low Clese
.... t8.44
8.42 H.44I5
18.48
8.52 A8..-,.ifJ3
. . . . ts.ns
.... ts.r.s
T8..W
8. cu ts.ne
I... '8.(11
.... 18.02
8.02 8.6304
Test.
ClOhH
8. -11
H.J1
S.4.1
H,4
8.51
8.54
8.r,3
8.57
8.38
8. no
8.62
BANK CLEARINGS
Banl: clearings today compared with cor cer cor
respendlnir day last two years:
1022 . 1021 10PO
Phlla. ..171,000,000 tni,iiii,2Rn 174,574,382
tipstnn .. a.iiiiii,uuu a,7Ba,147
X Y. . .71111 ami IIIHI
15..
1"
7, ,
10..
23..
O
1.'.
11..
Or'd Trunk of.
Can 0a rcta
,'..... lllltt
(.... 101
5.... 101 tt
1.... 1014
ar'd Trunk of
Canada 7s
1.... 100
1.... 109
Jan Oeve't 1st
2 8S4
1 88tt
Jap Gev't 2nd
1 87tt
& B7tt
20..
87..
25..
0..
3..
10..
25..
1..
14..
38..
32..
1.
lOStt
lOStt
105tt
lOBtt
lOBtt
1054
1054
lOBtt
lOBtt
lOStt
lOStt
lOS-tt
lOBtt
lOBtt
u k art nnt
A I'd 1037
OOtt
2...
20...
1...
1...
B...
10...
OOtt
HOtt
(10 tt
OOtt
OOtt
OOtt
U S Draxll 8s
4.... lOStt
1.... lOStt
1.... 103 tt
r.... ie34
1.... 108tt
4.... lOStt
2.... 103tt
1.... 103 tt
r..... lestt
4.... 103tt
11.... 104
' 1 44tt
1 eatt
10 eatt
Chlcate Mil A
BtP I'd 4tti,
1 57 tt
1 BTtt
Chicago Mil A
BtP sm 4tts
6 81
,3 81
Chicago Mil A
Bt F OV Bt
t tt
1 08 tt
1 C8V4
Chi A Nwn m
9 80
Chi A N Wn
Be-of '87
10.... 1094
B.... 101
Chi Rallw'e Bs
4 70
2 70
CNT 4H'0S
9.... 104 tt
UNI CM 'Ol
8.... 104U
c n 1 a v u
1 774
1 77H
8 T7H
1 77V4
1 77 M.
C A W I 7tts
I.... 101 Vi
Cteve B It 4ttl
1 OS
Cole A S'n 4
1 Oltt
Cern Pre Re's
Ce 0a '84
1 0TH
Cl'd Cin Chi A
Bt b 4H
1 80
Cl'd Cin Chi A
Bt Leuie 4s
8 07 tt
Cole AS 4tti
1 85T4
Del A Hud ev
3 01
3 01
Del A Hud fd
4 03
Del A Hua is
3.... 108
Den A A O fd
4 48
Den A It O 4i
8 74
Dtn i in a Bs
1 70
3 70
Det Edl Ce 6
B.... 100 Vj
1.... lOOtt
Det U R 4tts
1 08
D Match 7tts
11.... 101
Distil Security
Cerp C
1 83
Dee Moines A
Ft D( 4a
2 40
D da Nemours
Pwdr 7tt
1.... 108T4
Oeedrear T A It, A ttZ7?
1.... 113U
9.... 119U.
O't Fall P Bt
9 0BU
Oreat ' North' n
Riy Ott
8
1
T 4 4
1
1
4. a . . .
Ik. . .
Jap lletc't 4sU H Mexico 41 2
5 7H4
1 7st;
IC Belslum 0s
Mint! 0
1 esvi
b Earn Ce ei
5.... 101
B Edls'n D 7
1.... 107tt
8.... 107 tt
B Rapid Tran
et 7e a'.a
10 R2tt
Calif O A 17 5s
1 84tt
Ccn'l et Ga en
3 04
5 04
Ct'l Paclfle 1st
1 83
Cen'l Pae Stts
18 87 tt
8 87tt
C A O cv 4V,s
5 88U
C A Ohie 4tta
BIH
C'e A O cv Bt
B 85tt
4 85
1 S.ltt
1 85 tt
Chi A Alt 3'4s
1 39V4
Chi Burl & q
II 3tt
n ion
Chi U A Q Bi
a 87
0 07
1 07
1 07
C II A Q. fltts
1.... 100K
28.... 100 tt
1.... 100V4
12..., lOCtt
20.... lOOtt
C AC I Bs'fli
J i
5 71i
7 71tt
Itt
l'i
8.... 1194
I S'gng
8,-t
.-". at
uil m. 1-
W!IS'
n.. . -rr-
1. :
Mich 8-.!
97 V 5
VlM.4
fle 4
38.. 1
0tt
04 tt
0H
0i
OBtt
04tt
OH
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04H
OOtt
OOtt
0tt
MlrfVai
::.. BW
- mt .
?.yt$
f -A-.. .. Z
107tt 1 "J.
.... 107tt 88... ; !!j
.... 107tt 1... SJ
1.... 107tt 4..... V.?
? ,4t
! 47
2 4t
i 47
-.a 1
, .... itt:
.... 107H
3.... 107tt
B.... 10Ti
Havana IS Lin
a s-wr 01
1..
8..
t!
a!!
..
1..
leatt
103 tt
103 tt
108 V4
lOStt
lOStt
2.... 103tt
Dua Light 4a
3.... 101
3.... 103
Erie Oenl Lien
1 44
1 44tt
1 44tt
Erie R XI cv A
2 80tt
Erie It R cv 11
B 30 tt
2..... SOtt
Erie R 1. cv D
2 42
Erie RR Ce 4
7 59 tt
1 68tt
Erie A Jty 0s
1 02 '.
Flsk Rub'r Ce
8a rcta
4.... lOltt
3.... 101 H
10.,.. 103
1.... lOltt
CSa Mid It 3s
2 00
Oen Elea 3tt
8 70
8 70
Gene'l Elee Bs
3 00
Gene'l Elee Cs
1.... 10 Itt
Goodyear T A
Rub'r '31
B 07tt
2 OS
B 07i
S 08
5 117 tt
8 Q7tt
B 07tt
nud a Han fd
1..... 78'
1 77tt
1 77tt
JTtt
1 7
1 774
B 7ft
Hud A Man In
4 B7tt
1 B7tt
3 674
? B7tt
J B74
1 nad
nia Ct'l 4t ss
10 78
4 Te
111 Cenfl Bttt
x BSV4
1 08tt
O.j... B8tt
IB OBtt
B nu.
ana-a nieei 4tt
1 nsu
Inte M ct 4tts
ZOlJ....' 15
2B 151J
8 IBS
1 15
0 lBtt
25..... 1RU
Intb'e R T fd
1 64tt
10 04 V4
3 04 U
5 44tt
B fl4tt
1 04 U
I M Marin
1 024
4 08
IOjj.... 0.7
2 t)5Ti
Inl'l Pap b Bs
2 83tt
O 83 H
0 8HM
invmciDia oil
Cerp 8s
1 88
Iowa Cent'l 4s
1 88"4
nan urtst
Jtemp 4
1 TO
Ran c A B 3s
... (14 ai
Ran C A S Bs
2 88
8 83
3 S3 'J
1 84 tt
1 fi'tt
2 8SU
elly Sprtng'd
Tire 6
8.... 102 tt
8.... 102tt
1.... 102U
Lack Bteel '23
4 08 U
Leck Steal '50
S B4tt
Laded O Ce
Bt Le Ea
1 87 tt
1 87tt
1 B7tt
Z R7tt
2 871
L E A W 1st
1 SOU
Lake Shere M
S'n 4a '01
1 OOtt
7 OOtt
n oett
LrOUgh Val 0s
3 83tt
Le A Nash 4s
1 80
8 OOtt
Leula A Nash
Mone 4s
1 77'1
I .,
35
2.1.;
4..
80..
1..
1..
1..
B..
ioe
42..
B..
v.:
at
ai f.l
..;.".
- -441
' M
?!1
T'
411:
41 t i
41k
4K
4li
,Hit5
.5 UK
" 54
D sLt
Ke Id ?.
IWl
I1'
74'
1
0
S-l
" u
10 S7
JeKanTl
B an .1
ntf'i'i."" l
r "--.
is
71
7-
ji,'i
7114-'
!M
IS '
J
3...
10...
1...
10...
1...
13...
!?
10.
1.
10.
MKAT4twr
" siU
MS.1
J? ?s'J
:::::..!::
'I::::: ffli
it :- v
" rse B8 (1
? 61
,J H
10 Ml
1
"IS
2 ais
Me Pac Si 'a
N YcVnt'l (1
1 8i!
N Y Cenfl ei
1..
5...
1...
B...
6...
1...
1.
MH
tt
til.'
MS 1
vi ,
09
MH
J MH
1 (I
1 Ml; '
N T Cent'l T,4
I.... 109
2 nau
NYEdr-enO)
ettt rctt
1.... 104
1.... 104-4 '
7.... 104
1.... Itlli il
1.... 1W
1 lDtU
N Y Lint H
a rwrii
1 iitt
New Y N H
H 4s Of '59
1 U
New Y N M 4
II 4l of '31
3 4 1
I It '
New INUt
H 49 of 'tl
1 43
00
08T4
09
00
08
00
OOtt
OOtt
OOtt
oett
OOtt
00 "4
K Beirm 7U.
1.... 10TH
8.
12..
r...
1..
15..
5..
14..
7.'.
2..
31..
8..
Continued en 'tit fan
10..
E..
10..
10..
in.
CBtt
B5tt
OBtt
55 tt
65 tt
TJ'd B Mbxlce
Bs Large
10 BStt
1 71V4
1 714
1 711.
Chicago Mil &
BtP cv 4tta
' C2Vi
2 02
4 62tt
-"Make Year Jeb Oar JetS" i
Fer Almest 50 Years
e've Been Erecting-, Altering
and Repairing Buildin(t
t U Ettiraate en Your Jeb
FAYbuilder
f NS2. Se.MOLE St
saapaasBnBeUi PbenaKiHaBaBa
107
10.1
li
Ariientlne 7s !'k 117
Russian 6tt , lett jfiW
HuHslunttttt Uii tntt
Swiss BV4 .... 07 07
107tt
106
UN
lOtt
llltt
07 tt
DIVIDENDS DECLARED
We I'enn Hallways, quarterly Itt n-r
cent en eiimulntlw preferred, paiuble March
15 te steek "f r-ceril M.irrh 1.
Hnieilram-ltenderseii. Ltd., 3 nr cent en
rninin.v, for turrent sc"r, p.eulile itt per
nn! en May 1 t3 slecli of record April 1.
nnd Itt pr cei.t Dciember 1 te mock cf
lOLiii.l November 1,
Ellihern Ceal Corporation, quarterly 7f.c
en pr-ferred. payable March 10 te ettclt of
record March 1.
THE UNITED GAS IMPROVEMENT COMPANY
Comparative Statement of Profit and Less for Fiscal Years Ended December 31st
EARNINGS
Frem ReguUr Sources.
Frem Special seurces:
Profit from Sale of Securities
1920 1021
16,382,298.66 $7,402,113.09 $1,019,814.43 IncreiJi
746,474.66 746,474.56 Decm.e
TOTAL EARNINGS
$7,128,773.22 $7,402,113.09 273,839.87 Increase
EXPENSES
Taxes, Salaries and Expenses
Commission en Preferred Stock
Discount end Interest en Geld Notes
TOTAL EXPENSES
Profits for Year Before Deduction of Less from
Operations of Philadelphia Gas Works
Less from operations or Phlla. Uas Works.
$1,803,550.66
305,150.00
610,625.00
$1,224,640.32
'723,593.75
$78,010.34 Deems
805,160.00 Decrease
112,968.75 Incress
NET PROFITS FOR YEAR. .
3
$2,210,325.66 $1,948,234.07 $271,091.59 Decreaii
$4,909,447.56 $5,453,879.02 $644,431.40 Increase
2,605,671.44 2,736,846.58 181,276.14 Increase
$2,303,876.12 $2,717,032.44 $413,166.32 Increase
DIVIDENDS:
Preferred
Less Interest Adjustment en Preferred Capital
Stock Subscriptions
Frem Current Earninj-s
$113,787.75
27,523.91
$427,233.52
12,342.59
$86,203,84 $414,800.93 $328,627.09 Increase
Amer. Mfg. Pays 10 P, C. In Stock
New Yerk, Keb. 18 The Amerlaae Man
ufacturing Company baa daetarM a ateeit
r
uiADiurinaT vutni--tiiv nu
dividend of JO per cn ob,Mi. "W"W eteck.
payame iv" .
Common
Frem Current Earnings $2,217.612 28 S"302iiir,i
Frem Undivided Profits of Previous Years. . . . 2fiaiSYiS 'SOSeiSS
TOTAL COMMON DIVIDENDS . $4j82.384.00 $2,441,102.00
a
a
$2,441,192.00 Decrease
-
ai.nFIV.-the ab?ve it wai be seen that the operations of ih Cemvanu eutid e
Nete
Ti,1?Ttifej0i'Pwai;,en of PhI0-Pn'A Gaa Works shows a less te
The United Gas Improvement Company of R Rw .-,8
The, 3vnP. . 4k. nu ?-,(rfO,B-iU.OS
...w . IWMb w, vic vii,y una-
Cash Rental (Paid and Accrued)....
I'ree Gas te Buildinira und Street Lamt;
e er.n 7r.e ni
an un-1 Stv.e T ,- Y 'S,X".-7.'ii
Free Maintenance e? Street irV.::::: ISflffiS
TOTAL
Thi4 Profit te tat City equals 6' en 76rg49l836j00
$4,502,990.04
&
m&.
&iMl,Ji,... S '-.., .
mmmmk
j
tote,
,. ,. ., H'Ji.MVJ, , I '-. ' I
,'.M
Lmitfti. .! fa
Awfith
VA .jt t
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