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mm KLUUVtKY
Mi IN STOCK PRICES
EVENING PUBLIC LEDGER-PBtlLADEIiPHIA: SATURDAY, DECEMBER 2, 1922
J V
Remain
ft ...- i Conditions
)f Chief Propelling Force of
Market Movements v
NEW YORK STOCK MARKET
Only Atttrneen Alpert In PhltmMphlm Ouetlnt Full Lht
Today V mIm 4)3,900 Mwrcn
VMlcnin)' Mle 878,100 kImi-m
Total for this week. . .4,410,000 sliarei
vwVmk.Urr.S!.-Her!rU-Mii.
Hannl in nmvr l" 1.11.11" K'".n,l in ...
,',. j..f; mI..!1 of the "t..d llllllkel
, Mrtlirr to.rertlon of li..' ..ver-ex-
Llnl ni.il li"l'ln l,,l' "
1. ,.mt 1r.1ell1.11. Seme cxr-eplleiini
.i rre m.ulf 1y ttiimlier- of mc-4
!iiilll. "I"' ieiresentiitixe s-.inr.s.
. , n rule. ineini! only ineilernlely
Mihrr. Hlli-B'p ,!,il,,"ml ,,,,,rM
"A. imiirlit frrrlx. mid ilieie ww 1111
Sii I'.li'"!'1 "f HIH-llllllUe o.e.n -
''MXh" In IntninnUeiuil
Mani-ler. l,l,h '''"l'i"''1 I'el'iK
Mini le liii-Mtlf tlm rr-l ,' tin- ll-l.
iltlieUBli " f'W ellu'rwwik Hpi.tH !;'
!.n nl fie'ii inel l tiiklua. Wunlxxmlli
V '.'."--'IJim.IiiIh Klslir-r limb-
.ml Xt'tt Yerk rnitnil. 1'iiii-Aiiicrhnn
and ,"n.liiln! Di.v ine;N I well.
SiitllC of I 111' mitsiiiiiilliiR piins In
fltiilril Ainnlinii Snuff, up 111; All
fficn CiiMp. T',: Nnlluiinl Clenk
Rill- n; riill.,1 nit. :!''. nml
Omalm nii'l Kln.lelmker. !! cue li.
Internal I'oinlitleiis reiitiniicil te rov rev
rrn the nieienirnt of the -.tei-k market
this tvi'ck iiml eiii'i' uit in little, relation
rtuld pi.sfil.lv In' I'xtnltllslii'il lietxxeen
the (Inilv gxi.itieiis iiml outside condi
tions. I" "tlier xxertlw. tin' position of
the market is pim'ticully reietM'd train
that existing ii. tint I! tin' latter part of
October. Tlmt i te say, for nearly
fourteen month I here xns 11 persistent
fllmblnc of iiiuiket xnitni nit prupet;
tiw betterment of imliftrinl iiml eotit eetit
merclal conditions. New. when ninny
of these imticipnti'il boeiI tlilitBS nte
fait twemiin: realities, security xnluri
ire criiniblhic The nlwiit-fiiee turn
ha. net reine because of n loiiBMllstiiiieo
Tifwcfnn mlwrsp rlinngf in the ftiniln -mental,
or eoeiioiiiii'. situntien, but be
cause thne "he nttemptcil te iUhl-eiiiii
the better biicitu'.-s oemlltlons over
reached mid cwti'd n tlinwy upeculn
tire (iiperetriif-tiiw that wns certntn 10
toeple when nntlhinc olieiild ermir te
disturb tin' biiHtllv rlBSed nnd wenlt
iinderpinninirs. The dbereitiR w tin
seientiflc nml pnntrnry te better ensi
reerins principles.
Countless numbers of excuses mm
exrlanntiens lme been offered for the
sudden ceIImpm' of Hie speculative
structure. Wnll Street must nhvny
find a reasnniible theory, ev exeuue. ler
nil Its notions. Naturally, the nearest
and most plausible reas-en is therefore
offered. In censpniience. little discrim
ination li en ' Plnt'ln the leal
blame IIeeer. when the smoke
clears nwnv it will be found thnt the
violent slump, which, in a sense, ww
mcrelr a teelinienl one. was nREnirnted
by the weaklier of several lieusea and
1 number of speculative oembinntiom.
and nle the forced sellinR of very
lire blocks of slecks, by a number of
ether houses that the stock exchange
authorities, through the medium of the
mneli-ik-pi"'ed nuestiennnlie, found
were innjiiiB mere Mecks than thetr
fsnltnl warranted. Undoubtedly, n con cen con
rieerabte miinlier of innocent marginal
traders were cmisht In the vertex. tn
irrncalli the unpleasant side is found
the treat MitI-f:n'llen that a safer and
seundrr imrket is beiiiB constructed.
with traillni; piinciples built upon a
wunder nnd Miner foundation than has
(listed in niaiiv icars. A condition, in
fuel, which kim's reasonable nsntriince
of aieidiiiB a recurrence of these disas
trous, iiml oftentimes nauseatiiiR, expe
riences of the past in brokers' insol
vencies. At the moment, there is n diversity of
opinion nv te the adjustment of the
spreuliiiiie position. In some quarfcrs,
ami thce comprise Renernlly level
headed eliserM'rs. a belief prevails
man of the representative shares nre
bumping bottom. Net that thev believe
a resumption of the censtructhe move
ment Is In making, but. bemusp of th?
tea(line of tile benr clement te help
the rnutlen alone, the mntketa is over ever
dilil nml 1 technicnl rnll is in nrdr.
Anether element consider the enlv
rrepelliiiK fuice of a recmerv must be
drldl from the short lnteret nnd the
elimination of the bear account would
simultaneously ilepvixe the market of
lis nrtitii ril cuppeit nml leave it again
mliiu'ilil'. In Mipperting their ictur.v,
tliey pnim out thesp interests who toen
ever u,i .ici uiiMtH nntiaVallx would
tnU nth intncc of nil rallies te sell as
much et these stocks ns the market
would lake. 'I lie y fuither assert .nil
the sere spots were net eliminated ' In
tlie n cent shakeout. nnd ir is highly
.iriibnb'c that just 11s seen as the gen
eral list shows signs of hesitating, v
necd ptisMire will appear i the
weaker nnd non-estential issues whose
tet icturns hne been peer.
, Beth tliinrles nre open te considera
tion nnd ncceptniicp. Possibly the best
advice nml' r the circumstances would
be net te j,ct i(, cnthusia.stic en either
M of the game.
r.rn-
DrC
Mir
Ju
, U.,t.
ilj)
Ju'r
111 j .
. lam
Jiii
U . .
GRAIN MARKET
1 rev t in. Op i
Tii .
1 lie,
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r.'d
I I'll
? is.
in IT
in tT
TTi. nl T.'
Tn fl Ts
TO
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1 UsVj 1 Ob1.
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ST's
in 40
10 4'i'fl 10 '
11 AM
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1 esu
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an'.
8S
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Jul)
Oil
Ten
COTTON MARKET
I 'the I IJllIl Itlkll I.IIH I'l.Hi.
.1 s .1 !! !1 ir. '.'I ll(l.i tin
' ,'.! .! ",' -"' " '-'' "- -' l"'ff-,5
..mi .'I .ii( .-, 17 ..., ,7.j.-, r,
- 1 1 .1 il i.i -, (I-, "l ST "I llliilllT
' "I Tl 'Jl V, .1 ill Till I
ill
'fuili
fcw.1. .
I ' I .1
"" --''s J I 1'.' s.'.' ..'i-.'j nil
NEW YORK COFFEE MARKET
6,,
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Mi
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11 I .
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11 .l-'0 3.t 11 4-
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II III II U.' II I.'
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'11
STATE OF TRADE
1
iniii j r 1. .
hii . '". "". invn-N.lllt , ni
""'l ml ,' illnili'luliul ilnniiiiKi In
,rlli" . , 1, V, ""-' U8l (liil.ii.-
clk ii ' h"""ss W(, t, ,1
Du,"' Hull V l ,ar' ""fl'llm. tu
"i"' Ir hi', " ,', niHU'fs nml kM)ii.
!' lewN , , ' ,':n,VUH "'" "hhuiuiiI
llarln.. . . ."M "I III J li. 1. 1.. ....
!!r"il m, ,".", '".'""'"y 1""IU In rllf.
mud, 1
nu I , i. him
AOd
iOO
170.)
SOi)
200
4!0
100
400
tee
200
500
100
I 300
600
100
iOO
1(J0
300
300
(300
300
701
100
100
400
00
600
600
300
900
1700
1400
800
100
?00
(300
2300
700
300
100
noe
9100
300
5000
800
1600
400
200
600
100
500
200
10
5000
100
8400
2300
3300
300
l.lv
In I STOCK
tdamsntpreas...,
i Air Reduction ...
A lax ftubber
. Alnsku .Iiiiiehu O M
AM AmerCublus.
ftlrh
. 69H
. Olti
. 12?,
. 1U
.125
Allied Chem A. Ovt 73 V
Allli.,1 Ch & t)j0 pfUOU
Allln-Chalmen .... 43 U
Am .vgrie cticm... 31 i
' Am Aeile Oltem pf. 62
Am ft,.,.t Suajar.... 41 H
Am It si) t-'dy iKvr. 74
6 Am CHn 71 i
2 Am rHr A KUy.. .184
Am Chicle 6U
Am Cotten Oil.,., let's
Am Cotten Oil pf.. :94
Aim fling Sjn 6'i
Am iiMu A Lcath pf eevi
7 Am Ice 10D
.. Am Internet Cerp.. ?Bs4
Am Metaln 48
Am Sfetals pf 1101
I Am l.n Kiuiici! ling tl'i
Am Locomotive ...1?1
Am Loce pf 121
Ami naJlater 1 18
U Am .Siifcty Itazer.. 7
.. Am ship & com.. 70
.. Am Smelt 54 )i
12 Am Snuff 153
Am steel Foundries 44 M
. . Am Sugar Itef 76
7 Am Siur.ir Itef pf..106'4
.. Am Sumatra 28 ?
0 Am Tel A Tel 1231a
12 Am Tobacco 155a
12 Am Tobacco B I52?i
6 Am Tobacco pf ncw.104(i
. Am Waterworks ... 2M''
.. Am Watrwks 6 pf 50
7 Aim Woolen 96'4
. . Ant Zinc Ld A Smelt 10
.. Anncemlii Copper .. 494
4 Asse Dry Goods... f67i
6 Atch Tep ft San Pel 02
G Atch Tep & S V vt 904
. . Allnu Mr & AtlaiUlJ 2
7 Atlantic Const LlnelUU
. . Atlantic Prult .... 1 ?
.. Atlantic Fruit ctf.s. 1 9i
.. Atl Gulf ft W 1 S S 25
20 Atl Refining 1240
.. Austin Nichols .... 33 i
7 Austin Nichols pf.. B8'i
7 Baldwin Locemotlve1183t
. . Baltimore t, Ohie.. 44'
.. Barnsdatt Clasi A. 32
. . RnrtiHHNlt f-iiku ft ?"?
1800 4Se Beechnut I'acWnr . J2
'OO B Bethlehem Steel ... 62
100 7 Hetli Steel pf new. S5'
100 .. Beth Stl TTc Pf new 96'i
4030 5 Beth Steel B L3',i
1300 .. Beeth Klsherlea ... 5
1800 .. nklyn napld Tranalt IB'i
510 .. BUlyn R T ctfs 14s
1000 10 Burns Bres A 145,
400 2 Burns Bres B 47
1100 .. Butte Cep & Zinc. 7i;
100 .. Butte ft Sup Cep . 30
100 .. Butterlck Ce 18J
1000 .. Cadde Cen O ft R.. R'i
100 6 California Packing. 80
1200 .. California Petrel .. tBU
100 7 California Pet pf . . . 9i
400 .. cal Zinc and Lead. 7!i
200 2 Calumet ft Arizona. 55
900 10 Canadian Paclfle . .1 42'3
400 .. Ca .T I Plew 3
400 .. Case J I Threshing 30
350 .. Central Leather ... C4 J'
100 .. Cen Leather pf 71
5200 .. Cerre-de-Pasco .... 42 't
100 .. Certaln-teed Pre J . 44
1100 6 Chandler Meters .. CIS
500 4 Chesapeake Ohie. 67i
300 C: Chesapeake ft Oh pflOl li
100
100
tee
100
400
200
1300
2500
1200
21 M
400
200
100
8303
1200
100
14'J0
100
400
2200
1100
600
100
100
BOO
2530
3700
3400
2905
2100
100
1200
16600
200
1801
200
1600
200
400
200
300
7800
300
tee
100
100
2900
7rO
100
2500
1400
100
200
bOO
100
100
1900
700
10")
700
200
1700
300
200
200
3700
300
100
100
100
1503
700
1200
100
1800
4400
1400
200
20
100
700
100
100
330
2100
100
tee
J00
2900
200
1ri00
200
noe
100
400
301
h00
500
1 00
200
h03
,.101
i. "la
, . 91
. 24K
. 14
.. unicage & Alten... ."
.. Chicago ft Alten pf. 3'i
.. Chi ft I-: III 31
. . Chi 4 i: III (new) pf E4'4
.. Chicago ft Gr West 5
.. Chi & Gr West pf . . 10U
.. Chi Mil & St P ?5?t
.. -Chi M ft St P pf... ;8't
C Chi ft Northwestern. 84 !
.. Chi R I ft Pac 33Ji
Chi n I ft Pc ej pf 88
7 Chi R 1 ft Pc 7Te pf S7'i
5 Chi St P M ft O. . . 75
.. Chile Copper ;77
.. Chtne Copper 25
. . Cluett-Peabedy .... 63'i
6 Coca-Cela 78 U
.. Cel Fuel ft iron... 26 'J
3 Cel & Southern.... 44 '
6 Celum Gas ft Elec.lOI't
.. Celum Graphophen ?
6 Cemput Tab Rec... C9'
4 Cem Solvent A.... 47 i
.. Cenlny Tinfoil .... 16
.. Consel Cigar 67
I Consolidated Gaa ..127
. . Consel G cf X Y wl. 614
.. Cens Gas rts 2!
.. Conel Textiles ... 13 V.
.. Continental Can ...1C6U
0 Cent Insurance ... 92
4 Cern Products Rr.130
4 Cesdn ft Ce
7 Cesdcn ft Ce pf . . ,
. . Cruclb'.e Steel . . ,
7 Crucible Steel pf . ,
.. Cuban Am Sugar..
. . Cuba Cnne Sugar. .
.. Cuba Cnne Sugar pf 38 '4
.. Pinlsen Chemical . 57T
9 Delaware ft Uudsen1?2J'i
6 Del Lack ft West...135U
2 Deme Mines 41
.. I'uluth Se S ft A... .1
.. Duluth Se S ft A pf 4H
6 Eastman Kodak new 84 V,
3 KIpq Storage Bat.. Z0V,
.. fcilic Hern Leai.... .u
3 l:lk Hern Ceal pf . .
6 Kntllcott-Jehnson . .
.. Ert
.. Erie 1st pf
.. Krln 2d pf
8 Famous Players L.
8 Fnmeut Playera pf. 97
C Fed Mln ft Smelt pf.. 52 !4
10 Fisher body 185?t
8 Flslicr Bedy of O pf 56 V7
.. rial; P.ubber 12H
.. Freeport Texas ... 19!i
3 Gen Am Tank 72JJ
.. General Asphalt ... 44 '
6 General Cigar 81
t Gen Klcctrle 182
.. Genl nice special pf 10'
General Meters .... 13&
K f.en aioieis Oe )i . . ni'.z
1 tllmbcl Bres rr. .
.. Goedrich B F
. . Granhv Mining .. .
7 Great Northern Hf.
3 Grt North Ore ctfs 31
.. Gulf Slates Steel... 76 'i
.. Ilcndee MtB 17!i
J Hudsen Moter Car. 24 "4
1 Hupp Moter Car... 23i
.. Hydraulic Steel ... 4',4
7 Illinois Central ....10954
il lngeihell Blind Vt. 104
.. Inspiration Cen Cep eb'i
.. Inter Cen Cerp pf..
.. Inter Agriculture .. 7't
Hi lnternat Cement .. 35 ij
8 Inter Cem Lug.... ?4Ji
0 Int Hanester new. 98!i
7 Int lliucst new pfl 17
6 Inter Mer Maruie p 50
.. Inter Nickel lr
6 Inter Nickel pf . . . . 7J.i4
,. International Paper 54
.. Inter Rapid Trun.. 19
.. lnlncllile Oil Cerp 15
.. Iowa Cinti.il 4i4
.. lien Products .... 40u
.. Island Oil H
.. Jewel Ia 20 i
, Jewel Ti a if 60 "
4 .Ieiks Ureg T' .i. . . 51
.. Knn City & Seuth.. I'Mi
4 Knn city & .Se W . 14
. . KUIIHIM &. Gulf J'l
.. Knyser ft Ce new.. 4;i
40
90 'i
1094
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96
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64
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tale.
STOCK
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en
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114
100
2200
7000
11500
100
200
tee
M00
98
43 J4
1
17 55-
14'4-
145 -
47 r
7i
30
18S h
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80 -r
57 i -93!ii
754
55 -
141 14 I
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44 -C0H-67H
101 54-1-
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129 I- 114
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38 - 54 ;
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1225-i '- 254 !
134 54 - 15,
41 1- i
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In I
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0 Kelscy Wheel . . .
Kelly-SprlngflcId
.. Kennecett Cenner
.. Ke atone T ft R.... 9
7 Klesge S S M81
.. Lake ICrle ft West.. 23
. . Lake Krle ft Wcdt pf 75
722 S14 Lehigh Valley F494
22 Lima Locemotlv .. r6?4
300 v Loewa Ine 184
200 .. Ieso Wiles 07
00 2 t.erlllnrrl Plerrat . .17414
7 Louisville A Nash.. 133
.. Mack Truck 54 !4
4 Maekay Ce pf.... 695.,
.. Macy Ce. 61
Malllnsen Ce .... 33'i
Mdnatl Sugar 4714
4 Manna t Klect Supp. 51 Vt
.. Manhat niev ctfa... 47
3 Munhat Shirt 'S',4
4 Mnrland Oil 309',
Max Moter Class B 14 54
7 Mav Dept Stores pf164'i
1 Mclntyre Mining .. 17 54
12 Mex Petroleum ...228
2 Mex Seaboard 18 54
2 Mex Seaboard Oil ct 17 54
- Miami Copper 27 54
100
200
100
100
900
200
200
tee
300
2100
500
500
300
300
2100
1200
300
6900 1.;
ZZ0O
1100
800
70'
2300
300
100
7500
100
2300
400
100
1400
200
200
200
100
100
300
10400
100
!.ew
98
43
24'J
7?.
183
32 4
75
26 4
64! 4
225
C6
184
56
172 '4
133
54
694
61
32 '4
47
51 54
47
45
29 S
134
164
17 '4
226 54
17i
16(4
r7'
4
!4
154
1
IK
4
4
H
C1e ChKt
Today's Net
98
43 -34
54
9 I
183 33 !
75 !
26 4
64(4-
225
56H 1'4
1854- 14
57 T
172 54
133 f
5454
69J4
61 -3354
47
51 14
47 I
45 54 b
164 54
17 H
226 54 I
174 !
16 5i-!
27 5
MUCH BETTER TONE
TO LOCAL MARKET
! Fears Entertained of Threat
ened Hostile Railroad Legis
lation Regarded Premature
ii
News for Investors
- STERLING HITS NEW HIGH ' certitictat
Decline In
a
Cables Quoted at 4.52
Francs
NYm tuili. Dec '-'.The niitihil fin;
I'll .Mir
Kl". .tunr
t'.lS .s..H .
Rftfrl
s J
A J
Treasury I
Akid'
2
The"(. iim net much of n local niiir
kel teilnj, hut it ns n big imptoie impteie
ment ever the piercdinir ses"iens. With
(he execution of IVniisjlvnnln Itnllrenil
nnd lT. (!. I., ile.illngs were of unnll
cnliber. 'I here was n geed llKpllry for
i jl'ennsjhiiiiln Itailiend. llfllnt; the prire
14 Me d", ceinpiiied with -l."'. made enrlic
i In the wed:. I'. (. I., nfter 11 dip te
"a MO'i, mnde iinetlier Inte rail), lenchliiK
H par (S."i)).
14 1 Seme of the inncthe Issues made sub-
I btnntial mhniicc-. Huffnle fc Susqiie-
J 1 Imiitiii pieferied wan tnlien nt Rl, nn
f I nthiince of It'., points from the pievlmis
"nie. I'liiliKlili) 1I11 instiinieil ire
A speeinl meetiii(t of Tiffnn. & 'e
stockholders him been railed fur De
cember IR. te nppieve nn Inciensc hi New tin (. J"'. - 1 ""' "'" ' " 1 :,;. .tune,
rnpltnl fieni K1LMKK,0U0 te 1II,WI0,. ..n-laii i-m liiinei' mdin ns hs i. .1 ,..' h.pi
OeJi . in miIiiiih' itwIiiK t I In- ii-iuil r-nl 111 li ,;,',,) J'"'
-Anneim.eme,,. was made fiem the 'I''"''-' .'" .' .-. ' '".''", ..' iT' V , t.'I.V
..,..,.., ,.f 1 1... V- V..rl.. C.illen i:. Ill'lll lliljllM ins hit ...,,,......
.111 e II Is ,, ,w thnt I.n.nberr. e, rl7,,,B,i)!r..wr!.,.i!,,.,,,K '.'..". id s .', "'
Ct,. haw been le-lered te the trndiin; '',-,," ' ', ' r f' ,' ,, , ' "-'.'.
p,IUI,.gese thefX.lK.nse , "fl f lb". A w- 's
-ter jenr rnded September ..0. Jin- r,,n ,,,n,ti0 t the rnd. I'iiiiim lest
perlul Tnbiirie (.'eintimiy. Lid., or - .l(,lfSi itnlislniis d. Swdlli L' nml
t'niindn. lllWK leceid net fin iiIiik" . ' iiHh ,ihi Neiwckiiiii dcrlliiril 11 point :
.v:i.inil.(i7H after nlewlng for depict in- 1 ,lr Rll,., ju Swiss U mid Spimish
lien. tiiM-s. itr. 'J Ills teiiipntis with ,, ,,,11,1,. rr,. ,ii.uiiiriiI. .Minl.s
$8Tlll,7WI In pievleus ji-nr. U,H, nt,.,t., M).
The niernrje t.riee of the twenl, ne-! Sterling tallies weie I..,J,'. ilenininl
Ihe Industrials nihnnreil 1.0S pi 1 tent I.R'jac,; imiic rubles 7.ii:,j, i.lii'ls
jestenlii, te ll.".7.'l. nilikitlg II letnxer.v 7.01!f,i : 1'elpiilli ( nbles 11 .":!. chei l.s
iif .'1.70 jier tent 111 till' lust thiee dnjs. (!.."L" j ; lire rnldev -I . S7 ' a . ( lierks I. 7.
The twenty mils iidviinci'd l.tl'l per fetit Swiss fiibles IS.7. 1 hecl.s 1 s.7- ,
te N.Yfili. ninklng the rermeiy in this peseta (tildes l.'i.Jll. ehei I I'H;
sreui. JI.JH) per cent. Danish r;ibles 'Jfi, II). checks LmI.m.i: Nui
I'll.'.'
nu.'
III..!
in.'.l
I'U 1
1 11.' I
1 ni' 1
in.'-,
in'.'.",
ISI.'ll
lOL'll
lilil
tnrt
inn
Hill
nn-, me
in-. I'U', wM,rtra
ni liu ?TWi"
1111 'i-ni ini 1.1. in 4.4jpV
inn ,-, III Mill 11. IU .4T tPi
tii.S. 1.1.5. A Am if. 1
inn 7 in loe'i ; ''S?-
iis'n int'
l
1011 .1.311
IOO',
i
I
f;jrmiit frmii (', ilrnil tun 11111 1 Inennie Is.
t Xici 1 mlile for pi "mill of liu'iinie las
dlie mi ilnle of tniitullM
Crude oil piodltctlen in the n.ltrtl iy r 1 1.1. Ih ,.. ,1. .heck-j IVIS: Swed
States for the week enil.d Nt.etiil.er ixh c.'ibh; ;, ''"'i ehciks J(..! ; Riillilfi'
".". ti enticed 1.0:i7.4()0 ImiieN ttnll). enbles ..D.t.l. t links .lllib; minks
according te the American Petroleum
Institute. Thih compares with I..U.".
.'10IJ 111 the ptevieus week, nnd 1,.'H.'7,SS)
in the snnif week Inst jenr
Netire lins been reeelied bj the Vew
Yerk Stock lAehuiiKe of piope4i.i m
.01 5-Hi.
The (Vnlj.il Ittlit.pe t M lllinvcs were
irresn'iir tedii I'iiimIsIi mid lluleiirlmi
Knlned II points nml (Veclii'-Sli.iiikiiiii,
) point. On the ether hiinil. (iiccks tie-,
tlliiet! m mitl Hiiiii.inliiii l-'i, Jiiiilntiuiiu
IJiiliIimnti, ,(i; Kiimnmnn.
. 1 biinii ni .1 ...... .r 11. tuiiiiiu nt .,: .
v ni nam Slates Cera I? l'i ii' "4 . . ,,..,,.. : -. .... .1 ... en cicnse 111 niumi "iu' ". i"'' .n- nn. . , , ,,., 1 'jr.. i:.-....L. 1 in
.. Mldtn g.ui 7tii rq 29 ! i ' """'ricnii ii-iuwins was n 1 ;i m- -'. .,.:, (V ,es. Inc.. from M'.i IIOO. Kit I ;, '. d i , . ... ,"'..,"'
" MedKa ft TV(wi ll? 5? 15'4 ' . . ' I ' A'J""' - nn.le the ., B11 J ' , A""!. Mnier (V..... t:,a iVunLhrVu"
Me Kan & T (wl) pf 4t 4 41 41 . '" '" .''""M' ...Uences weie sce.ed en ,)I00.,, ,PC.nM. i c,,,,.:,! m... I: ;". '' 'l,- ?.' ' VI" '' :;,',' M"
.. Missouri PacllM .. 17?, 17'4 1714- ! . ",V. $' tini,s,ctiens. hv 822,WW.IM)0 pn-fi-iiMl t(.il: ml ''v vTm8,; n i; , ,
.. Missouri Paclfle of . . 45 44K 444 .. ' Mcr-MIe Steinsn Mntler.i reachefj .,.- ...... ' ki.nl., , ,.. stcp, ., ew 1 il e( h inije In M en t real te-
.. Meni0m.rv WkrV 21 t 2 1!4 ?1 '4 1 '4 '"S'.'. or within ", of the year's top -'".'""V. , , , ' ,ln.v ,U,,"I "'. " 'i"""" " '-' I" r
MeSn1 Moter &r 16 4 164 I6H !4 , Prl.-t.. 'Ie Philadelphia Klectilc shares -embi'.ed imeinr. ,,.i,,r of t he ,.,.,. t'l.nn.lliin l.imls in Vew 1 ... U
H Me hr Led Uln ni li' MK 1?4 .. reniained tirm. but P. It. T. shn.lcd Met.e,mlltnn est Site l.lcw. tr.l Unil- rl(. ,H.angul nt ., ,,, f 1 -
.. National Acm" " V 12'4 1?.'i 12 I- '4 fru.tiei.ill, t :.. nr. Nerthrtnrii l.lf ntml Hllin,l. pcr 0int.
.. Nat niscult wl 36!', !654 36 54 H Itmikim: mid rullrentl elhcinls ic- Seuth Side I.levnied K.'1.l,1..,fl mid I hi- xeiwrs eimmw m'emt .v-
itarded ns belnir well posted mi pros- "K" .""" ",,K ' ".R "" "'." """"'"' ....,'. r,i , 1 . t
Vat Clenk ft Stilt. . . 65
7 .Vat Cleak ft Suit pf. .101 !
N'nt Hn ft Stamp... tS'.i
8 National Lead 115n
Nat Tt Tt of M 2d Pt 24
Nev Cen Copper... 15
N Y Air Brake.... 28 S
. .V Y Air rtrnl.-e.A.. 47 "a
N O Tex ft Mex..
5 N V Central
6 N T r ft 55t r.ents.
700 214 .yew Yerk" Deck.
2300
1200
400
100
1200
500
200
200
100
100
200
400
100
5100
9033
8403
1703
500
200
100
803
1703
300
300
9400
100
100
400
63 la
97 94
6
2614
New Yerk N It a II 22'.
7 Norfolk ft Wcstern1134
93 H
4554
78 34
?!4
20 "4
7!4
37
B North American
3 North Amcr pt. . .
6 North Pacific ...
.. Okln J'red ft Ref.
.. Orpheum Circuit
..'Otw steel
2 Owens Bet Mach.
7 Owens Bet Mach nfHO
.. Packard Meters.... 19H
. . Pacific Dee! Cerp. 154
6 Pac Oas ft Clec. . . 86
I Pacific Oil 47 '4
Pan Amer Petrel... 94 i
Pan Amer B 90 Ji
I Pennsylvania R n.. 47
I'cnn Seaboard Steel 34
B Peeplcg Qas Chicago 9354
. Peerln ft Eastern.. 15 54
. Pere MarquetU ... 33 '4
2 Phillips Pet 43U
. Plerce-ArrowMet pf 28T4
. Pierce Oil 44
4 Pig-Ely Wlly Ster 47 54
. Pitts Ceal ....:... 57
6 Pitts Ceal pf 97 "4
. Pitts ft W Va S!iH
300 114 Pend Creek Ceal... 19J4
600 li PestUm rereal 112
8 Pest urn Cereal pf. .Ill
. Pressed Steel Car.. 78 94
. Producers ft lief... 4154
Public Scr Cor of N J 954
8 Pub Scr of N J pfl 06 4
I Pullman Ce 126 54
Punta Allcg-re Sugar 47 5,
400
200
6100
600
303
1403
1000
2100
100
900
3100
103
1600
900
1000
1200
600
2 Pure Oil
8 Pure Oil pf
.. Bay Cen Copper..
4 leading
3 Tteadlnc 1st pf.. ..
.. Replec'e Steel ...
.. Repub Iren ft Steel.
. . Reynolds SnrlnRS. . . ,
3 Reynolds Teb B....
Robt Rels ft Ce...
2400 4.13 Royal Dutch N T.
400
300
300
900
400
400
300
300
1600
1103
. . Rutland p:
1 St Jeseph Lead...,
. . St Louts San Fran
. . St Leuis S Fran of
. . St Leuis Southwest 31 34
6 St L Southwest pf. . 8 U
' '. 4
97 !i ,
1374
78 '4
50
?f,
n
20
62 54
1454
F2T4
3254
194
231,
"fi
Saxen Moter 2
Senb Air Line pf . . . 8
Sears-Roebuck .... 83
Seneca Cenner .... 8 9,
1 200165 'i. Shell Transport .. 35
loe c Shell union Oil vt.. 93
2 Sinclair Consel ... 32 '4
8 Sinclair Cen pf. ...100
.. -Shelly Oil 9
Southern Paclfle .. C99a
.. Se Perte Rice Sugar 4354
.. Southern Rail 24 ij
C Southern Rail pf . . 64
8 Standard Mill 134
4 Standard Oil of Call 17 54
fi Standard Oil of N J 198 54
3 Sterling: Products .. 60 !2
4 Stew art Warner Spd 5714
C Stie-nbcr?Caib. ... 6',
10 Studebakcr 1234
3403
300
700
1803
100
1703
500
200
5503
2603
403
103
400
43100
600
803
200
100
300
1500
800
800
6300
300
500
1200
800
2900
1600
200
2100
1203
200
200
200
1200
100
1200
900
100
3200
800
600
3100
100
100
15100
400
900
LOO
200
100
,i00
100
iOO
1000
200
103
200
5400
4 GOO
403
jOO
00
(.00
003
500
700
I CO
;00
I. CO
COO
100
100
.100
100
100
734
414
28 'i
1'a
9
47 54
10
Sub Beat Cerp. . . .
. superior Oil
. Supetler Slee.
. Sweets Ce of Amer
. Tenn Cep ft Chem.,
2 Texas Ce
6 Texas Oulf Sulphur 61 14
. Texas & I'ecmc... 22
1 Tex ft Pac c O. . 21
. Tblid Ais 1754
. Tidewater Oil 126
3 Tlmkcn Rell Br.... 3J
. Tobacco Products . 54 34
7 Tobacco Pred A.... 81
. Transcontinental 01 12 94
Union Bag ft Paper 69
. Union Oil 16
0 Union Paclfle 141 14
4 Union Paclfle nf . . . . 74
, union Tank Car... 1 20
. United Drug 7B
( United Fruit 1E6 5,
. United Rwy Invest. 12 u
. United Retail Stores 71
. U S C I P & Fdy.. 26
. U S Heffman Mach. 19'i
. U S Ind Alcohol.... 62 'i
6 V S Realty & imp.. 65 12
, . 1 'ti Realty ft Imp rts 1 3,
U S Rubber 52 34
IL'B Rubber 1st pf.. 6
. V S Smelt ft Rcf . . . 38
r. ir u u.a.1 ...
. w M .j.msi , , , 1 u j 3n
, u 0 nieei pr. . . .
" L'luli Copper . . .
. Vanadium corp ,
. Van Raalte
. Va-Car Chemical
. Vn-Car Chem pf
. VUuudeu
. Wabash ,
. Wabash nf a.. .
I Weber ft llellbtencr 1 1 5',
a Wells Faree rxn. . na
7 Western LMcc pf...112'j
. western Mniyland. 13
. Maryland M pf 26
Western Pacific ... 16 ij
7 Westurn Union Tel .111
4 WestliiglioiiHe A B. 9
4 Wfwtlns i: ft M.... CO 1 4
' JJ.!"-ellnB & L K 914
:. "m'?.0''1" u u I" 'fil4
2 JJh te Lagle Oil.... 32?
4 White Moter rj 1
. White Oil Ceip.... 4 3,
JvJ.c.kw,re Spcne Stl 12
. J HIjsj Oveiland ... 54
. Willys Oteilaiirt pf. 40
. wiit.011 a co 391,
8 Woolworth V W. 212
' .ert,h ''""'D & M.; ?Bi4
ti Woith Pump u.... C4
ic 1 ', 3
63',
351
61 1,
26',
63 '4
14
9',
25 ;4
10154
4
1154
234
15
28 54
47 54
83
56 fi
86
25'i
22S
112?,
92 !4
5'4
78
203,
7 54
37
110
19 V,
1'4
f6
6U
0214
89';
46',
314
S3 '4
15 '4
33 ',
43
28 94
44
46 '4
57
97 54
:5t4
1954
112
111
78'.;
40 14
95 '4
106J4
l?6
47 54
?74
2
1354
7!4
50
.'5
6 34
19 1
61 'i
14'
5214
31 14
191 i
23',
4134
31 14
18 ,
2
8
82 34
84
34 i
93
3254
100
8',
t8,
43 54
A
63 34
13334
115H
196' 4
60
57 '4
SC',
120'7
7'j
4U
28 ,
l'
9
lb
61
22 1,
20U
I6'
125',
33
54U
8O14
12
C6H
16
Uni,
73',
I19T,
77 ,
154
I2i,
70',
.-4 ,
101,
b? '
5
1
51',
s.6
36
1021,
121
6)i,
35
60
26',
63
14
9'2
rr
H's
us
1 12 ' j
ID
?4'
16),
HO
67',
60'4
91,
16
32 1 4
411 1',
4 1',
111,
51,
39 4
?9'4
210
.8'4
04
14
114
H
414
'.
'4
454
65 -!
101 ', '-C514-5
11534-1-2''
15 1
28H '
47! -83J4
1
97 i4
86 '
26 I
22'j t-
112?4 -
93 4 I
45 54 !
70
2 54 i
2034 V
754
37
110 '-
19!4 '
1 U '-
86
47 54-1-031,
i
8954
47 !-
3'i
93'.
54 ,
43'i !
28 T, -
4S
4(514
57 '
97'i -35
4
19!i U
"1 1 1 -'r 34
111 "r ',
7834 114
41 54 - 1
95 94 ' 34
106 94 ' ;4
12654 -i- '4
47 '4 - i
?8'4- 'i
97 '1 -
n,-
77 , -
50 -
nrded ns helnir well posted m pros
petltlM' IVdeial lejtislatleil consider the
np.telielsieii leeelitly lllllllifesttil toll tell
eernlni; tnnlisfnlery laws 1 rtjnliit inn the
trnuspoi'liitieii industry of the country
as somewhat piemntiire. In their opin
ion, theie Is little possibility of am
radical bills brine Inttedmed or passed,
at least fur 11 year.
In this t ntitifctieti. they pointed out a
ret cut sihcpi made by the father of the
14 existing tianspertntinti net. which np-
Tilpmenth was overlooked liy ninny, in
1 34 1 which lie said le deny the railroads 11
54 .fair lituiti is n violation of the rentl-
tutletial ilshts mitl eterritles tUe Su-
!4 inieme t'eiut. Theie are 11 deen Su
preme Court decisions, thev nsseit, up
holding the lights of cm 1 ion te a fair
return and reprimanding these who at
tempt te deny this.
In nil en'iit". according te u.iMnng-
1-4
t'4
l
'i
15
ace nnd Oak I'mk I'.leMilttl Itmlrtiail. 1
for the year entleil .lime ..II, simws net
iiuenie of M'-'tll. nflet iluiiv.-s mnl
ttic. teinpiiieil with SIOL'.OIt! 111 the
pinions year.
The 'iewnihient was a )irn v pur
1 linser of war obligations for sinking
fund in count lnt mentli total for lir-tt
twenty -seen tlays of Nnwi.dicr l.eiiu ,
Sfl'J.O'JI.tiOO. against S'J7.s'Jtl.IIO0 fur
the conespendlng peiletl ul lll'JI, I'm',
tlie ciinent tistal jtnr up tu N'eiember
-7. piiichases for sinking fiintl totaled
S1ii!l.()!7.:i00. ngainst .Sir,i;.is"i,()n0 in
salne peiied of 1 01! I
Dmtv!
cab'ei
Drunn''
CubliH
itur Prni s I
l .J-i. T oil, I si'
I X.'i e 1 I M
i.esimi iji (ii rii;s
t rl irin i'rui . I 1 .
I T.i't 7 O.I 4 l'i
,-.. 7 HI I s7'
'il l.lfn
:. 1
:i'i 1.
7
PHILADELPHIA PLAN
EQUIPMENT TRUST
CERTIFICATES
BALTIMORE &. OHIO R.
1630-1935
PRICE. 993i AND INTEREST
TO NET 0 02
SOUTHERN RAILWAY
5'fcs
1930-1S37
PRICES. TO NET 5.25',
KEYSTONE TCLEPHONE CO.
r,-,
1023
PRICE, AND INTEREST
TO NCT 6.80.
REILLY, EROCK & CO.
30G CHESTNUT STREET
PHILADELPHIA
NEW YORK BANK STATEMENT
Fer the Third Consecutive Week
Deficit of Legal Reserve Re
quirements Shown
I'ei- the lllilll f ensecllliM wit'k the
Vntlierllv was r-n.ti tlie Suit I.tike ' W 1 1 1I -t .1 1 nmen t of I be N'W 111 1
ind I'tnli Itailiend ledai In the Intfi- I'luiiniK Heuse instiiiitifiiis shuwetl
stMe Celillnerie I 'einin'sglun te Issue I tliev Wtie llinler If.'ill isire Ifqiilie
s(ll)l),(II.O in It pei tun lust mei irhbi' ineiits. A i'niii uf S1I..".0.".000 111 10. mi
bends anil S.VIO.Olln l'i 7 per lent pre- tretlit nt the I'eiler.il Itex'Me llmiU
ferretl stei k. Iteth Issues of the seciu I- was offset h ilie niir'iisiil llaliilitn
ftfi will b" deposit, tl with Ihe trensill V I lliliuiglt the e.p ilisinn of "!'..". IL.'1'i 11(111 Hi
tnn millers, tlinrn is nut milch lil.ellln.01l I I'S rnllntertll let II lean of S7OO.O00 1 ill lll'l llll deposits. Ill ( iin-ciilielll i. tlie
of any railroad legislation lieing pi c-p(j matle le the milium! by tlie Govern- ibd'u it of legal iesei. nipiiri im nts w,
dm ii.'rf the M.iiiing regular sesii.n. The nient. ' incrras.,1 t., 5,7.-l71!.l!Hi. I.enns nml
limit elei led members ul' Cetil'iem lake i,,ni ir nn W.itm Weikxiinil Hlei tile I di'. t.illlts. s.,W((I mi im'ienst. of "...
tlieir eflii e en Marcli !. and utiltss the ! T'enipam appeitts tn line ninde (1 ! ". "00
Bank Executive
W"1 I mil f.nm.iiilv known
llii.iut 11 1 ( IrcleH, would
ul ' tn li,n fnni .1 li.inklntf
11 tit ut e w In. h can ue Ills
s, M a lin iniitrilnttleti te
ti- it c il w ill Im the nhlllty
,iii. kiitiw'l, dpe rciiltant
ft nn twfiitv-lle ytnrs of
Ii.iiiKiiir ixiicilfiii'' Inter-
: w 1 t li ptltKlpaln ie
(lli stcd
Hux i COS I.edKCI Otllcp
President (alls nn e.tr.i sct-dmi the
mere ratlieal element will be (empelled
te lield tlieir plans in nhctmnc until
next 1 lerember. Ill the nunntime. condi
tions mid circumstmices me likelv te
be siieli ns te Impart an entnelv differ
ent aspect te the transportation situation.
(If teber earning statements remlng
J 1 te hand this week dlsdesed tlie sliop sliep
:? 'nun's strike was eiv cpensivi' and
fill deep Inte the operating Ilicenic of
most all the systems. 'IJiis expense,
beweer. has linen wiped off the sjat,.,
nnd based tin the repotted leceid load
ings of freight cms, the net operating
income in the net few mouths should
show an nppteeiable gain, such ns wa.s
expected in (If tuber ictuins.
1
?l
'4
H
14
l!4
34 I
',
!i
Ti I
'7 '
20 '
62'4 ,
i4!4 :
52?4-
32 ',4 1
194 ,
23',
41 34
31", r
t8', -
8 '
E3 '
8J.
34:4 -
93 -
32! 2 '-
100 -
8 '4
E8&, -
4T-j
245, I
64 -!
134 -
117 54 !
197 54 r
60!4-
57 54-f
BG!', -
123'4 i-
734 i
4'4 i-
28!-
1'e i
9 U
46 'i :.
61 14 4.
J,
I6I4 -125
54-33
5414- U
80 r, i- 4
'2?, r- ,
i
Philadelphia Stocks
1. j
2
1
i'i
!;
1
3 '4
u
3
'4
14.
54
4
'4
'4
.'
'4
n.
HlK-'l
10 Am C, . 7!
10 Am lhn I''j
2'JD Am Sti-s .I.V.i
100 Huff & S
t ( pf.. ."il
jne;cM&st r wl. j
'JOOT de pref.. JIS",
no !,. ster. ."s'i
101)0', Kl ie - . 10-1,
netrscu Asph. 4i'-4
'.'(MlfCen Mtis. I.".'...
riOMIupp Me
ter
Tjr Lake Sun. .V-,
:ir.h.i si.i nil vj ,
217 IVnnalt It -17
3.". I'liiln Ce
fiim pi", -l-'j
10 I'liiln Kle. Ill
'Jl de pref. . :'.l
Ml I'lul In W LI
l.-. 1'hila It T
.-iOToiie I'.el.
SO.". I'll I . . . .
lev
7!)
I'Jl
l.'.S
.-.4
-'',.'
:im,
r.s
HI',
41
i:i'j
r.'.,
.ii .
r-'."'i
up.
".1
it
:,' "
C.nn
7'1
11." .
l.'.S
.'.I
-'-.', -5-
H34 .
14
1 .",'.. -
IV.1-. -.-,1
, -
Nt
1 two
(leliliite (Ullieli.-lik. Lli'MllllgS for twehe! I Hills lollew
I'lentli ended October .11. were I
"sl.ri.V'..Xi. riiialeut after a full.
ear's dividend en the SII.CmO.iiOO 7 l'.xe -'per
cent pi.-f-ned mid SIO.IMMI.OOO " ''M1'1k'",,?r "" '
per (flit p-iitiiipntiiiK pteferred te r!,Jii m f'mi i s
SI. 7 11 slime 011 the eutstillifjlllg
SO.'.MIO.OOO foininen.
The tie.isuri has letired ,l.'l20.000.nn0 1
In Vietiny imiis since the call for the!
iidemptie'ii of patt of that issue went
(lit .Inly -!. Secretmy Mellen mi-1
nuiitKed ' in a statement in which lie
called te the nttetitlen of huldeis of.
'. MIA
11
1:
tvinr-i r luink
He"! nr li tn m
l r linuK" 1 1 1 . 1
ri i r li inV
I'.n-rv.. In srnt.
lutiU" nil I trust
c umiu nU 1
Itrrr in s(((I
hinl.s nml trie-i
(emi tn iip -1
sin 1 sei mines tunr nirncM 011 mem .t .ic.n.ir.i a
would M.ise December .... The ie ie
teiy notes aff.cted by the call inelude
these be.tnng Ihe distinguishing letters
A. R. C. D. K. or F pielixed te the
.eri.il niimbeis.
llends called for pavment in De
.cmlier are uniiMiallv large as 11 result
f numerous (orperations irileeming
nigh Intel est bearing sties and ie
plmlng them witli lung-term leans at
lower rates. Total of railroad, public
utility mid iudustiinl isMies tailed for
p.iMiient next nu. ntli is .70.it.VJ.li00,
igainst sr,.'J.'(),r.(lO in Defemhei. 101!1.
-31. I Of this .S77.!IO:i,700 1 for issues , ailed
M w ri .
l, sl0 'tliO
.'I 1 III llll.
71 .17'! O'HI I
.".7 3.1U 00 1
'1(1,1 ,"..". (inn
SSI iillll
1,1,1 11(111
11 I Ml
isl Ijllll
I 17 ll'KI
J l'i Due
IS". 001
' 1 4 001
Lykens Valley Lt. & Pr. 1st 6s,
1945
Waltham Watch 6s, 1924
Detroit, Jacksen & Chic. 5s, 1937
GARRISON & CO.
'WIDtNta BUILOlNO, PlllLAOttnttA
fMtaii t !. ef-ir . r imim.1 tmiitn
t,. V6i '"" S. Wil fnuritn
resits
lin-e drie-it
I'ircu Ttein
r s iii,eits
llfilUttfil
,i II. .Til Of ll J si I 2.-,-, line
ii;, e 17 i iiii 4 1.' '.in miii
11
- I.
!!'.
4L.. m
:;i
ir. -Vi
:tji, ,
i s
ul) - i
69 J-
16'i
1403;
74
120 I
78 -155
54 )
12 '4
704-
26 .
19 54
62 '4 1-
C. -l'i-
52 ", !
6 -
38
103 1, '
121
63'
35'.; 4-
61 54 '.
.'6', h
63''. i
14
9, t
25
11'a
88
112',4
12', -25
1
16ij r
I1034
'.9
b0'4
0'.' f
16 (.
32 !
48 '4 i
4 "4
11',
b'a 40
29'4 !
210
-0'4 t
04
4
1
2!4
- i
Is
r.e
tN'et clinnve mnrle M nmpn'iten with lat
eli in .Sew Yerk stur', KxihJt.i.4
Tnt.il mle, T.'.n. slimes nitnc,tri l n th
si'itt stitiri esleri'a Tims fnr tills mr.
Mi !i07 hhjrs
I'llll.XI.I.I Pill V IIIIM.S-
"(MiliO Liberty ."li 1 , s "'S.. . ,
:'..".(ill I.ilnily 4th l',s 'L's. ...
Jlll.lt i:iee A: IN eh s Ti Is...
:.0l Klee A. IVuple's Tr 4s
100110 V.kti A. l'ce Tr Is lets.
100 Kite A People' Tr -Is..
i!700H People's l'ass T C 4s..
::ni)0 i'liiln i:irt Jsi us... i0ts
Jim Philu Klec 1st ."is
1(10(1 Phlla Elec 1st .".'..
lODOPhlln Kicc r.i.s
f.OOO l'liila nice 0' .s
10(H) I'liiln Kicc (is ...
ill entirety, wane me Dnlmue is ler
small amounts te meet sinking fund tc
(iili. ments.
I'njarde Sugar Cenipmn's irrent re-
pert showed It was one of the few i
sugar fempanies whleli ame through,
the drtlatleu p nod with pietits of the
lireicding cpei h of , high pikes silted
largely In lliiiul fuiin I.iheiM bends
mid ether (ash assits tutal about
JJ.or.O.eoO. 'I he (oiperatiun is capital,
lued at .r.,7i.i.eitO. and has nu bends or
pref.rred ste.u outstanding. '( r work
ing inplinl is nbetit ,s.':..",(i0.(i(i0. l'a l'a
i.nde is a Priite IJie.in producer, nnd
belli tits ftutn the higher t i i ft uu sugar.
is its pieduct ienics into tlie nlttd
Stales duty fiee, I
T,t f r.s-
(.'srci.-at.. ri1-
tii. t 'ti-
( nsh In hiiit
il 1 mi m I k
Hi ii.r in mom-
licr I inks .in 1
r. iphh mkit
1iwMr. In .state
1. irVis nml trut
(Oit'iisnt s
I(per ir l.'
I ii ki atiil ti u
romp in a I ns
.iu ,lHinti il -
llnrlM
IKl-itM
T llll- i1piI'
( ir ulatien
r-itfil i-'aiHi.
,li ens fu lie AiJ
Lell '
3.' (lis i nn
'I .Mt" 'J '
M Tl XI.
Ttis .i .
7 17'. I'm
V,s (ills ( t
r.s.- s.iii mi i
.Mi :mi e'in
.!1 '.I ".J Olie
r,2 "il ijije
T i .1 ii-.t
. "i,s n in
Hi Hill linn
7 i mi en j
il oeo
4;il ."nn run ( sni (Kje
SS-, fifjO
Masen City at Ft. Dedge
4s, 1955
Kirby Lumber Ce.
Wm.COrtoitCe.
54 Wall St., N. Y Tel. Hanei tr 9690-97
V
s-,. Ill 11
ni "i,'' hi 0
.1.' II.' n.O
.'.7 11'. ene
!i s 1 1 rni 1
s.'. il' 7.HO 1
1 III .".70 ' I")
.11 a71 Mi 1
fiu U3T iinn
I. 1 1 1
Its. 40 j
'7 I
I
111
Steamship Movements
Aur.m-n
IKe. I - Pre-dftn (JmfVM
Li' 'J lleclmml 'a
slf.RP
.niilli.iiiiitiin. Li 1 Orblta '.m u,rl,
Jiie nst mm
I'I' iniiuth.
Xerk
Fair Activity In Raw Sugar
New rk. Lr .' Tli rnu- Vtuir -tu-.
rfM '1 1 1 r' iittii" . 'l nt r iin.-. with c-if i-
for Ueci-mU'" shipment 'iilhI nt t k,i.
t iinl 'i.lmt anil fc- Jftiuirv .11 ,
ment nt 3 vn" sf mi'l freis-li I a .
rstrdi nn ip-rm n n lr hfil.s1 leni , ,.
I'ulias for InuilltiB n!U lulu .it 1 ,M . j
'eh A"H lis nf -i 'n uiln) i" -nn
iMKh Ctjbis tn tne Anieri in sik-if J!m,ii, B
1 iniiun find 11 70U 1,11 si f'iba . ih
XX trtlT Mlf.lf IXllllllB I nllli-ll 1 111 1 1
reflnrrt mir'nrt y f.ilrl i t. Ttid in h.n
a ulth nllnfrs" llbi prun 1mu.n1. ir m
7 10 cents 10 7 2."i (ent (phi .' in r 1 M
casb
Paris Bourse Quiet
Sale Bends for Investment
Halsey, Stuart
& Ce. Inc.
lmd Title Blffe. TtUphen UcM 74 If
"fcVVtVlaaaWBaaVNaVaMaMHmMSjaMaftaaaiaMaaaWaaaWlaaW
C. S. PATTON & CO.
Ul. , ( III -IM I M-
BANKERS
sin , 1 ssnrs III
sll I II sll X I sS
llmiils mil sun 1,, I111111 ht nml mlj, '
XI, .uln rs I'hlij s,i. miiiiii.i. I
1 .NMPHMWWMi
Pnrls. L. l r i lfiiB ,i n.11
w ' ri 11 1 1 din . p cent nt.
3' 1 v lia ' I 1 !. n Hi fr 3u
.n- . 1 . . t 1 -ni cuitimcs
I 1 1 ai 1 a 1 I it II ! r , 'Mi
' .10
1"
1
Lawrence . Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
ItiO REAL ESTATE THUS I I1LDO.
let'slls'iU t nil I in .unmratlin !
1 .r'm rshli. n unt u I liur
iniuut.. '! It. turn.. "
57:, I y wm 1 a
07 1 1
ni 11, WiWi'iiSLiiiLUi ! ' 'i mv m r m b mim i "n p we i ni 'i i m vm, msiii , ti i,i m im , i. , ,n i,
1 1 1, in iPi i'n,
h'i"i
iw'iira5j
1
im ;
tt
100'
. .IOIN HMIJ,
..lets 101
101-''
Tutal f'.u.OQO. cemrnreit Hli JSS.nde m,h.
tcii!a ilius fur IIiIh lurlc, J 11)11,500.
FIRST ANNIVERSARY STATEMENT
OF THE
BANK CLEARINGS DECLINE 3
Exchanges by Lecal Institutions 9.7 S
.5 I P. C Belew Same Week Last Year jj
a j , ih. nas, in bank , Icaungs. ,n,, te B
r?i
the
hellllllt
uiieil.e ul (lie ThuiiKs.MvtiiL .
is shown in thu tiguies, for the e
xxm'U Miuipilnl l.y the (um111eici.il nun D
I'in.iuiiil ihieniile, the nggiegate fei-,S
nu in,- 1 mis ,.i ni,. ( in n-ii males lieiti- t
! .S(i ss,''-,-, ,-.M, i.iiiip.iied Mlt, .s.7 a
77-.i.s" .Hi'' this wm; Just ymr, or u a
Bread Street Trust Company
Bread St. at Girard Ave.
December 1st, 1922
i
l(.iss ,,l .' ! pel m lit I
i:fl.iu'. s In bank i of the local 'a
Cb nine lI'ULi AssiHiuiieit xx etc uu g
0.7 im mi the total being S.'llc ihid . H
(llll). iirfin.st .s.J.ill.lMIO.OOt) the lei'U'a- g
peinliiiL ini. last yt in g
Id tails lu'.luu i j
ii ii i ii ,, i i... . . .. . j
" ' .11 ' III HIl llll -,
I I ""1 HI -111 lit, I JT t 'I
. ' I i 1 1. n (i
.li. 77'i
RESOURCES
Cash and Reserve S20 4.38b 80
Furniture and Fixtures,
Mortgages
n
Ni n
i 'I ii'ii.
riiiit'ii
llnstull
Uull I
.S, I'- 111 s
I'lllftlilllM
ill III II
II. ,111111,
Ni I..I I ir.
'
1'.
1r',
'
'i!7',.'"
n i
nun iiiiii
s t s -, l i
i I l.'i Ul
IX Hi.'. II IU
.tii in, ,,.i.. ..
; '" e i
Uln lien iieii i ' i
i"" i.i i ;i-7 ; ,.
no tin i ,,,,n i ,
l.tll.l.flil nun s 1
7'l 7u I lis I I 7
i ii iinn i i a .7
III II.IS IISIl
Bends, Securities
Notes Purchased
Miscellaneous Assets.
34.156.47
62.500.00
300.601.4-1
965.411.91
10,625 00
LIABILITIES
Capital StecI:
Surplus .
Undivided Profits
Deposits
Bills Payable
Reserve for 1 met est
$250,000,00
75 000 00
32,5.9.80
1 135.S73 62
75.000.00
9.250 00
$1,577,683.62
$1,577,683.62
U I
I
Mini.,
In
i i
I i
it
'' I B?
.,'.i $7 7"y iisn :,i,i-, t; , si
s
.IDS
U.M
H. .1
W Sl LS. l',ct.
Mill Vl, ic P,r, ,
M i'ri.r V, Sc-Tuae
i .!:i:i- ai -in i:. i ,,
.KO li M..CI! Vt Ki'.N, 7 in!,
iirnnirr j. iiuka.v. .ij . ,s.., ,i.,r
RAILROAD EARNINGS
4)1 I
Federal Reserve Ratios
XXiiklilnale.i, Uu. ;. liailnt et liii.it
"' i tu I , ' "' '"" III Oils (inar Miim iu nil iuijiv iui i ni"i ,,sn...v
J,'1' I" l.irt.. i'u, .r "'" l'"si'iil 'I here, nole llHlillllls lemblneil. fur II e tMclie
m. ?;,;"",'"3 ; !""i'.'-.,!f",,fV,i!,' ';,?, ''"I"" ,t,"",, ",",i,, "n'1 ,h0 ",l1 "V
lim.t,, .'"'i' ''"' '"" '"'" well i, urn, ' ttn. iih et Nnxsinlir 'J''. (I'linur.tl xUh
"tlfulij , , ."i'1',1,'' ""'"'ilniifiitM, nr If ih liroiieus wnl. n ml jmr at. fnlle :
":"" nn i ,s.f ".." IM '' ni en In - I .Se. 30
ej.,1"" ' h i i, ,'"""iV" '"" .Nm.'.'l) .i .'.' 1UJI
Pl "I i . , It.Uli'l- lllf.ic ,, , -- ,ls 'l 7ll S
Mini ,,. ., ' "iinilni inn, K-Mlli h. I 1'i'l'Ui ''.'' '' ; !",?,
IJ ,, I win .,... ,,,;, ',x ' " I New XmU . . s'; ' t-l'i S'
I tllll ,, i, ,"" '"' '..I hhIim nitui i n. ' 'i Lll'l ii!' i' '.-
I'-lur . . , '". "' " In i eiliiii riietli ih IHIilinii.ii'1 ?', i'J ' !,'.'
.'. ,
ill H
TON
I
DIVIDENDS DECLARED
Amirll.UI Xllli!,n lllaM" .Xlirliln I oni eni
pain, wuarlcili I", p, i i cii' "ii l'i ('''I rJ
uiiU IS uu ruimni.n. in'ili iikmiIi''' Juauury
- le tei l et re.uril l.ttfiiiufr f
1'icrcn .xtaniifaetiirlns- rnini'iti' . iai.h illil-i '"ten
Ufiiil of IIH ii kliaiH .ml nuuiltrl h, u i,it x.ik
ti.tiil of fill tliare i il.l 0l ".t I'lilliiilt-lnliia
1'nrK I'liih Mining I'niniuiiy iiuArlerli 1.-. I !' J f 1-mU
CflUB. llltllH l.dlMIIUir -I IO hl"sls of ,111111111(1
Reserve Banks' Discount Rat..
iretV'iZ'' .:'?!: y!!ri.. n.i
." " IUIIU"t
l'll I .III
I. IIH,
I
111 I
T "i mm tini ..I..I . i '" "''uiiiB urn.
elJ".,"' I run . I'"1'"' ""'f'lea tj.
Mfurn.'. " lul n.i ,.r:cr,, are ibe ("",
iccniil I.i ti'inlKi' II
tlat.rtl, 1. Ilk, in ( lll,tlil.tlt t, U ITt, I lV 2 n I-
riiit. riDithle Jiiuiir IS i". "toil, et recuril
Uetcnilier I'D
Ureal Xetcrn hiinr i'nmpiiii. II nn new
ruiiiliinii, l rcr cent en. 1'icreritst. tntli
li)iible .iMiiu.uy 11 te ft w,l et li'ienl l).
iniii (r la
S.tit.li. .11
X tin nil.
Clilt-itan ,
HI. I.uuls
MlnneHKil
KuniMa Cits . ,
Lillii- .
fin I'rmitlsui
l
ij,
4'j
',
l'i
''y
',:
HiiihIh I "din. i Atci l
; '
i
v,
i
'-.
r.:
('
i
I" 4
I'j
::;
i
!
i
i
a,
'j
im nn
.Nil ulti
.Nil t I i
si
1)11 1 1. 1
ll t I at u . t
II I IU It. .
I I II nun It .
,l'.l l tllll,
1 I I.I Kills.
S' '
I) tell. I t
,N. t I'lt
Intll In K
L II 111 t III
Sit .1 I '
'iuttil II t-
fii tnl'i'l ..I
Sri ni ri
'I Ml III llllllf
.Sri u i i
lie ii
n-X !. XSIA .s,,si M
ni'lfa 4X1 ;',',,;.
1 II 1.1 I -i, ifniii
' -' Ir"! "!" "' "in " 1 1
"' " "- s'. 1 i71 1" i" '"1"
s ll.l. O'l.l ,, I, J
"7.i7i ti'.i .'i.i.iji Hi
'i i - xs; nsx.v i.si ii
UlsniMt XX' s M
XVU.I 1 Wl MM t I P.
HUHrrtT t unit xs ,iu,
Ll'.NKS ' sfl I 11X1
X XX- IM'sPX.
S C KlIXI's
DIRECTORS
cv r. i,i ep.i.i i- ki ,m.
.Ospi'H ( m v. K .. .1
HI S I M1 u s. Ui,
Ii'Hi:ilT II I I II V XS
1 I'XX'AIII. I I I i ml.
AtliJl.l It 1 f.l'i'll
.I i iP.i i; T s, v
' 'i i:t i s nrn-v M,
w ' T.l l: X HV'tllls-ilK
I X XXI N'KI vini-n
II. I, I M , mi .,,,
" ' 'I lll'll l.X'K'IIKDRIJ
I s
i; 7;"!'LV' ' i"t"-.. e
a .11.', ,11, . , i'i It
i h'iii ir.-, .s; ,,.' .
m":.-:'-.7'.' i is ;" S
i. i.!".M '-'iiiisi.,
'- l"' I"s .'.,,1 il",
sOPI'IIW CHTI.its !
J'.'.lllN ll-.il
S7U I IT
tie.i ;,.'7
. i III sil'MilT
i .' MIX lltal
I. .'nil 111,11
U.i'XI'L Mil I.IM,
si .'HI ill
' i" ellll II s
ui "s an nis hi
in .1 '.'."i a im
t.t . nn
.hi uu
Ml I la'l
.'Tit iisii
.'II IT I
11.1 HIT
M.'X I ni
.l'i iinl
I in.' n7
1 s-.l li
KlIIIHIIM L'll!,
Uullaa .......
ban KrnucUie,
Telal
IU K
no,.'
I1U.7
7U.1
lil.T
th.n
an.ii
it. a
'ts.t
Kniitlii.n i.'iilitiiiilii I'ettir I'nililinii), unit.
Irrle li ncr cut en I't'lTn-ii, imMihle
UiirinbiT Ifi te klnrl, of itxniil .Soxembir (,
Aliiarlcan KxefntiMa rl.curillM CpfperallSi',
Januar) 1 te atecl. of ricvtd UCGCinMr ID.
BAR SILVER
l.emi-atlf' li.r ),. u...
v.... .:. .. , . . ..".t
'IIKlMlll,,d a
SSS. J"ft ,"'1" ."'...oeuq Vf" n...",H,.V
..., v.i. ,. 'tv, t, ,tL'lltlO or I.e. Ill laimlnn
tb pik, v" a.nu luir t 80 3-tiu.
BANK CLEARINGS
II III.1! I 0,1 li
I. .in,, ''i"v '."J lenil'Mia wuli lei.
L'siteiiulnu 'ii it iu ieaia. ul
i'liiln.. Jini i'''-l,, tSTn.one.iion i7ii,:7e,-j.,j
ilettua l 000...00 03.000,000 9l.03t.uili
KguiriMMUiUMaujji
Titles Insured
2't Interest Paid en Checking Account
3.65re Interest Paid en Saving Accounts
Safe Deposit Bexes $3.00 te $15.00 per annum
Open Tuesday and Friday Evenings
Frem 6.30 te 9
JOIN OUR 1923 CHRISTMAS CLUB
)
ml
tA'.fal.JMJrtm;;,.: ,,, i.,,. i, , ,. ..., - T1MHMm,UL1JJ UJL UMM
K'A
I
A
'ULLiL
f.T, s
7 Ui
ji r 'J - i j- -",'-tnf"- t.. i&m s.ivm