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hi
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Narrow; Llm,
'filsT1 -,A ,.'. . .. -
raeJ4rvel Lae in
1 ,i .; ; - v
wpoetly.tr Rubber
YMfc. Dec. ft. The Cnrk mar
hffcn tin tied quiet after tke opening
SW'W. Mill. Ml ' 111 ..- ..
. epviniiiej nun iu ww inTuinrt
lir 4 iwitiw w "
f.iera Transit se'it. ex-titvifiemi or
Mean recovered nbeut 8 points, te
.Ohie Oil opened up 3 point.
M of Nnw .Tpmnr. Net Yerk
Kentucky moved within narrow
r
(a .Wheel wan frnctlenallv better.
WshakS niikkaa JiAtAnJ tee aa n ti
rOi37v' l,l'l,v iircc tiiwtc --
jyjy"" at nnn fractional recession.
ivY (
ifrn
JBSY
M . Sir U. if If.R Mar n! e JnJ l
Ml air U. 'if iVM ' War 11. 0 Je.B4
1. i , bit at ' SfOf bar 11, )0.t
91. f ul fi. 'H MM Jil 80. 0 tei.ij
1. 0 , or J: 'Jl ST.ie May SO. ' 6 lOf.OO
00. Hf , U y II. 'I? 88.80 P0. II, ?. 100 Bl 03 OB
Ot M , n T 1$. '8? JO Q Pe. 80. 0' lOl.ee 98 74
$.U .Mr al jj $3.40 Mer 1. 0 ief M St.ta
iK:8l ',5fK 'MJ Itfi ffi?!?: Jft
9j.ne
88 00
on.eu
100.02
00.84
kfik
cv.A, .rwileterea
tS.13.tT
1MT-42...
HPrtr lit or
f.iavTcr jii
IJhrtv til i
JJbtrtjr lit Id cr.4Ut
f.lhari
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Liberty
Liberty
Lttxrtr
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f.tberty
Victory
Victory
k.ljlflt
( I
.In er
. or
4Wf
iii:
'AW.:
All BAMleilAVAit
Hiss "..;...:
4ii. 18S3 38
4e retletertd
i
:::::;:
illtlltt
HlMt
I
t
t
iku 'IV.U
;f8 "Hi
98.4 08.82
ieS:p
100.64
'8'.i4
'9'8.0
08.8ft
08.8
100.-28
100 04
Chte.
!(
.iU.
( t
Mil
mx
INDVSTB1ALS
Hlrh
v MO Acme. Ceal sae
iu ahiki pack sr prer ih
BlU
S? ene? 8
tf v r. 100
mm
u;?"aw. li
100 Cent Moter
Oil U'
iirant
lllMt
loedycar
ter Mtt
M of Ina.. Hi
S R 248H
r Tire .... Bi
Havana Teb prcf
nevaan uncm
' 7. c,h Stcrei.
rinn av jiut...
Lucey Mf
May Dpt store..
New Fiction ....
Prima Radie ....
Imn Tobacco ....
ijt V t"J zne
miUS0TJimVTtt::::
EM it t 100 Renettl Candy ...
(IfV MO Technical Pred ..
y IS..' BAA TaAhHm.1fi
00 Un Prof Shar new
00 Willy Cerp
1.00
Lew P. M
B6a ROc
19 1ST
fOU 10'i
lft4 lfl'i
244H 24HU
0i 9
! "?H St4 "s'J,
:W W
.9 9 9
. H 88H 8V4
. 11U 10 104
1 iH inU iftt?
.170V4 1T0W 170U
.110.1? llAj tieit
8S 8S 3
. is i i9
. nji us ti
. 20'J 1PU 19U
e4 s r.C
. 04 OH H
tRALKll IN 11000
rOBKtOM H6MM
STANU,UU 01L
tee Ansle-Am
loe Atlantic
20 KurekR P
40 imperial
10 Illlrela P L
10 Ohie Oil ...
10 Prairie O A Q
Prairie Pipe . .
00 S Oil of Ind ...
lOOfl O N T w I.
100 8 O Kani w I V
ioea O N J w I ..
10 Vacuum Oil . . .
Oil ... 1014 19
Lebei ..714 7
L 09 H PO
O Can. 1I1H lit
19H
i
17
2i0
R24
312
19H
714
00 14
mi
mi
S12
17
..200
..flJ4
..312
..114 U4V 1144
. 474 47. 47S
. 424 424 424
. an 4 B'4 !in4
.041 045 CIS
INDEPENDENT OILS
1900 Allied Oil 10c
lOOArknn Nat Oa. ... 84
lOOCarlh Svnd .... 4 4
lOCItlaa SerUr ...193
.100 Clt 8rv II ctfa. . 194
1200 Federal Oil
IlOO Olenrck Oil ...
200 Int Petrel . . . ,
lOOO Kerttnne Rant
00 I.ewtj- ,
1000 Mammoth
1000 Royalties Pred
100 I.yena Pete
100 Met nl ....
TiOOVexlee Oil
100 Mountain Pred .
TOO Mutual TW .. .
llttOmar Oil
100 Ryan Cnnr
800 aimma Pe"" ... .
1000 Southern PAR.
000 Texan O A I....
ion Turman
100 w
tlcex Oil
72c
204
2?c
4J1
12C
07
10
8"
!
in,
08"
44
12S
inc
84c
1A
10c
'
44
192
1JS
i aw
iA
4
20
27e
10c
192
20 $
27e
M
ri
!'
MINING
1000 Bli I.eds
200 Canarle Copper . .
1000 Candelarla Mln ...
hrt rvt. ml ,
'ItOOCreiaen Geld
R ''...
SQOO Eureka Creciua . . .
Oi 0 Kertuna
100 Hrcla Mining
?000 Independ I.rad ...
000 Cerk Prerlnca . ..
1000 Detn Ccna
OOOneld Deep
1000 Henrietta
1000 Rlomend
BOfte Victory
men mpn yree
DOONat Tin
OOnXexnda ODhlr . ..
lOOOOhle Cen
100 Park Utah
100 Hay Herculei . . .
itme Kea cms
Be
24
3c
14
2
He
30c
8S
lOj
17c
719
10c
400
27e
lc
8c
2i
ISc
47c
7V
r
.v-.
414, 41i
12e 12e
7 n
10 10
80 80
in. K-4,
104 104
98e 08c
44 44
lfc 10c
34c 34c
1A 1A
SM OH
Be 5c
.24 .24
84J 34c
14 ik
24 24
V
SOc 80c
l'.i life
''Be 80c
17c 17c
7tc 71c
lOe 10c
40s 40c
27c 27c
lc la
7e "a
2c 2e
12e 13c
47c 47a
G A
14 1
" c
Oc (lc
74c 74c
4 4 J.
2 2
34 84
lA 1A
974 974
long ineil
88 88
100t 109i
1034 101U
te-
i
T
1000 Htewart Mln
4011 Tnn T)lv
liOOTen Fat 4 A
100 Ten Mln 2
100 Unity Geld 81
000 UnltI Pattern . . 1 A
lOOO V S Centl !!c
BONDS
4000 Am Cct Oil Oa 974
1000 Am Ufht T 0 ...1004
RAAA am Ren Cern Ae.. H
WOO Anaconda Cep t,.100
IftOA Anni-enrll 7 '20.. .1014
lOOOArme'ir A Ce 7. .1044 104K 104I
JOOOTeth Steel 7a '33..102H 102 102,
MO 0 Can Nat Rv ea 7.1004 1004 1004
10000 Cent Steel S .. ,.10'I4 10'4 1014
innent Pe-xlce 7.. . Of 4 '.4 04
MOO Cen Oa Dalt 6a. 1024 102i 10244
f(Oi ''ihan Tel 74 ..101 In-, 103
1000 Del City Cta 6a,..10OS )0e jnrtt;
iAAenjir en 7 was ies k4
1000 Heed Rubber 7. . Be 00 m
41(100 Int R T 8a ctfa... 08 en ps
fOnO Tclede Qae 7...l01i; 1014 1014
lOOO Me Pae a D P9 pn
1000 Nat Acme 74a.... 9'4 D14 01v
lione Puh Sen N J 7..le24 1024 ie"4
0000 Seuthwent Rell '.. 102S 1021 1014Z
OOOSONTG4 1004 100 4 1004
MOO Swift A Ce la.... 1114 084 01 3
40O Swift A Ce 7a. 31.1024 1024 10:4
rOREION BONDS
000 Argentine 7 . ...100
000 Krencn uevt if . .
1000 Kina or ?etn n. en
1000 Klna of Serba 8 . 724
MOO N T N K H Fr 7s 'lli
veu Aiex uet; ea ..... . 04
22T
ee
00
714
fldV,
Of
004
in
72U
mi
Of
tOOO Swiss Gevt 84..102i 1024 1024
COPPER MEN NAME AGASSIZ
PTMldent of Calumet and Hecla
Mining Company Elected
New Yerk. Dec. 0. II. L. Ab8n1z,
frealdent of the Calumet and Hecla
Ifialnr Company, wns elected preaident
Of tbe Copper and Brasa Research Aa
elation at the apcenil annual meet-
Mf of the association eter(Ui.v. Otlicr
rws elected were: vic pre.sidenta,
F. Keller. F. 8. Chase. H. J.
Rowland, Walter Douglas and 17. T.
sfunterferd ; treasurer, Stephen Birch;
aeeretarjr. G. A. Clean, and ruiinager,
William WIIUh.
Preeident Ageeslz told the association
that the consumption of copper in tula
country was substantially greater last
year than in pre-war ears.
While the consumption of copper in
tae buildinit imlustr wn 10,000,000
pounds in 1022, an increase of .V) per
etnt 01 er 1021, the iwtentlnl market
for copper and hrass in the building
industry, he awerted. could he placed nt
bout 050,000,000 pounds nnnually.
TO REORGANIZE STEEL CO.
Jeflta 4 Laughlln Will Be Known
as Corporation
rittaburrli, Dec. 0. The Jenes &
LMghlin Steel Company is te be re
ecfaniteed shortly as the Jenes &
Laughlin Hteel Corporation, with a
tasalUl stock. issue of $00,000,000 pre
3red and S00.000.000 common. The
mg$ capitalisatien la $80,000,000,
TOf.K?'AaBH(nill.t:uriit ui 411c 1 vviBautuKlen
lMaaai last night. Ferm 11 1 action will
i Vfcsy-taken Dy the Heard or Directors
:Rliii latin nart of tbe week. The nr'esent
iMHfkSiement will net be affected by the
ftf
;.
et s T
et Oa '61
10 93
S 98H
8.. 1.. Hi
r.-am'n Induet
Der THa
2 88
Cevt't fremih
R THe rets
1 94
4 94 4
1 94
8(kale 944
8 07
Onra't French
Republla 8s
1 974;
1... . 98
Heltand-Am'n
Line fla
12 884
.1 884
.... 884
Jap Oeven't 4i
3 814
T 80.
R Belsium 6a
2 054
6 PS4
1.. .. DJi
K BeU'm 74a
1..,. 100
1.... 1004
Klncdem Den-
Mark Cs
3 084
K Italy 04s
1 034
g4lK et Nettier-
lanas v wi
IS 984
1. ... 984
7(ealr) 94
14tlt) 04,
T24
724
734
72
Uel.
98 V
93
034
Anten Jertens Dutch K Ind'a ST 09
V Mart ft ' et 6s -4T mv 9S4
16 78 4 044 30 00
S TI4 1 944 Mnsdera Ner
Arc Rep'e Ta Dutch R tnd's way 6s wl
S. t.. 100H et6a'63 3.... 100
3.... 1004 10 93 Pmrls-Lrens M
2.... 1004 984 Hall'res
Chinese neve't 8..... OS 4 R T3
IMC Rlr sa r.-am'n Induet 7 73
8 804 Dav TUi 10
84 804 3 88 8.
B BO
air Berd'i 60
1 11
City of Coven Ceven
haren B4s
2 904
1 00
lt urea'.'
Pratue 74s
1..J-.. 73
City Mars' 6
1 77H
cty me e ja ja
nerle g '46
1 00H
Cty Rte 6 Ja-
nerle Sa '47
2 97
1 974
1 97
City Teklo 8a
1 00 S
letsale) 604
Csecho-8leaa
flep'e 8
8 874
Denmark Cen
ct A 8a
1.... 108
Dept Beln 7s
1 831
8.,
1 an
3 ss;
De Can S i
4 90
1 tiO
R 984 10 98'.
B . 90 1 0.H
1 ... .08 1 08
7(sale) 08 4. 10... t'H4
3 (flat) 984 10 99
1 09
1. ..99
DOMESTIC BONDS
U a Oeern't 1(1. . 1124L tld R C '37
44 ret 1.... IU 8 634
4 9CS0'C N T 34'34 Le A Naeh 4a
:30 0971' 10 804) 8 904
0 99.7 emp Tab 10 904
Recerding1 !La A N W s
Adam EiP 4 I 4 004 1 704
1 804 4 Man Elcv'd 4s
a
3
Republa
Ha 8
S
8... .
2....
R Chile 8s '20
1... ion.
R Chile 8a '41
1.... 1084
IMP Cuba 44
1 s
Rep'e et Haiti
6 wl
6 984
18 9H
4 04
10 OS.
14 084
20 984
SwIM'O Cen 8
3 ... 117
U IC Ort llrtt
& l 64 '29
7 .1114
V K Ort Brit
A 1 64 '37
8.... 101's
U 9 Braxll 7
S 804
On'd 8 Brain
74 ret
34 034
B... . 03
U S Dralll 8s
2 PS4
6 984
12... . 94
V S Mexlci 4a
2 35
Allegheny Val
RR Be
III S
viner Smell a
Het's 3
1 914
3 924
10 .... 024
1 024
American bug Crown Cerk A
Ccmmenwea HI 1, ,,, (124
Piwer 0 Market Street
894 Rly 1st S
2 8941 s 01
Cen's Pew 3s! 1 ei
1... . e:u . .,
fral U,..r'wet; Street
-. " ., 1 my cei cs
. ... tu?! 4
Rst'C 6
2.... 102
1.... 1024
2 ... 1014
Am Ttl Tel
clt 4
2 014
A Tel A Tel h
1.... 115
Armour 44a
00
2 804
Atch T S ,
aej
Seal 0
1...
08
'S5 .?.'?, 8u,Snb'cVi 314.
1.
8S
9 884
Ksale) 88H
O(sale) MS
10 F84
D A 11 O fd 3a
1 444
Derry Cerp 7s
1 98
1 974
94",
Marlnnd Oil
ct 74
101
Penna R n 8'
1.... 1004
Penna Rd 64
1.... 1094
2.... 1004
1.... 109H
18.... 110
1.... 1094
2.... 110
Per Marat 8a
1 004
Phllad'a Cem.
pany fd 6
1 094
8 904
3.... 10O
1.... 100
Ptere OH 8
S 06
1 004
Pece Cell 8a
1..... 944
Prndue A R 8s
2.... 1074
1.... 1074
1.... 107U
PUb Brv Cerp
Jersey bs
i 88,'
BO
1 834
Rie Q A W 4s
Z 78
St L Pn Mt A
S Rly 4a
B 874
3 874
StL In Mt A 8
R A O dlv 4
3 84
1 84
2 844
3 844
StL A a Fran
adj 6
StL 8wn en 4
10.
1..
1..
1..
10..
4..
StL A S Fran
In 01
784
76
784
754
754
75
61
60
60
60
00
00
004
004
81..
1..
se!!
11..
3..
5..
0..
StL A S Fran
Series A 4a
10.... 714
StL A 8 Fran
Sr!es B Sa
0 864
3 M
iStL A S Fran
Serlea c Os
3.. . 1004
6 '7
lake A Ce 7s
1.... 1004
3.... 1004
3 Air L M 4S
3 46
1 40
S Air 1. aj 8s
B 214
Seab'd A I. 6
8 00
8 004
14 60
1 604
Sharen Htsel
Heep 8
1 09
1 99
Sinclair C Oil
Cerp 7 ret
4.... 1004
1.... 1004
4.... 1004
"(sale) 1004
lO(flat) 1004
Ksale) 1004
Sinclair Plpe
Lin Ce Ss
8 804
3 804
1 80 4
B 894
1 804
Sn Pae cr 4s
8 014
Bn Vac fd 4a
1 864
1 87
S P Term' I 4s
B 83
Sn Railway 4s
9 664
1 074
1 674
Sn Railway 8s
11 V04
8 904
10 004
1 07
1 974
24 07
Sn Rally 64s
B.... 1014
a.... 1014
8.... 1014
7.... 1014
1.... 101
7(sale) 101
Standard Mill
ln Ce 8s
6 964
atand'd Oil of
Calif 7S
13.... 106
1 ... 105K
1.... 1004
Tex A Pacific
let e
1 904
Third A rf 4s
4 63
Third A adj 8
1 ' 864
10 B7
Tobacco Pred
uet Cerp 7
1.... 10S4
Tel Edisen .7
1.... 107
Knat) 1004
Trl-Clty R7 A
Light 8
B..1. 100
Union Bag 4k
Paper ta
10 08
6 OS
Union Klaatrla
Bs et '82
3 03
Union Pae 4s
1 sis
4 01
7 SlH
Union P ev 4s
8 95
20 03
Union P fd 4
4 654
1 85H
Unt'd Drue 8s
2.... 113
18.... 113
s.... 11m
2.... 1124
Unt'd Fuel
Oas 6
1 07H
1 08
Ut'd Rly I Ce
8 Fran Bs
1 674
Ut'd Stores R
Cerp'n 6a '43
6.... 100
U B Rub'r 8
1 874
1 88
1 874
8 88
1 88
1 874
U 8 Rub 74
1.... 1084
United1 States
Steel 3
33.... 108
1.... 103
3.... 1024
34.... 1024
It.... 1024
Utah Power A
I.lilit 3s
8..w. 91
Va-C Ch ct 7a
1 054
Va-C Chem cv
74 war'd
1.... 01H
2 01
3 014
Va Rwy Ce 3
1 064
2 904
Wabash 1st Bs
1 07
4 074
1 074
Wabash 21 Bs
1 88
West'n Md 4s
1 6241
J 3
W Pa, Pwr Tl
.'... leau
Weaterferd M
WIKWIl
10..... 1 seu
W'n Union 8
a 074
Westlnshs'e E
Mr 7
3..." IQTf
wlln Com
pany cv 6
1..'... 044
Winchester R
Arm Ce 74
.... 1014
Wlscen Ct'l 4s
2 81
1 83
7(sale) 88
Clrrtnctu Hener 'Ou.it at
National Convtntlen In With-
ingten Openlng Today
MAYOR MOORE WILL SPEAK
News for Investors
j 824lD' Edi Ce 0
...... Tl.- M.1 2 102U
" - ..:..:- -...- m
8 Fe 4 iihkii ecurny v.
1 R94 Cerp'n B I 5.
1 tcvl 2 404 3.
Atla'aKnea n de NemeursIM Kan A Tex
On 4a j Pwdr Vi Os C wl
B 85 ! 10T4I 4 06
1 Vast t 2.... 1074 10 054
1 ... 814 Due. Light 61 4 034
l!'... 814 4- 1034 Me Pacific 4s
1 814 jErle Gen! Lien 1 03
A C Lire 4'- " B 434 Me Pacific rts
8 .... 84Krl RR ev D 2 99
B k Ohie 34 s 414' 2.. .. 00
034,10 41 Mentr' I Tram
Bait 4 Ohie 4s 3..... 414 i Jl
20 8141-rle RR a A. 10 894
II 1 O cv l'ii 8 4:4 Menfa Pivr 3s
7 8041 8 .... 424 3 004
Rait fc Oh. .Erl RR Ce 4i Ntl n r Ce of
2.... 1004 "H Mex 44s '26
B A e P L . Franelece Bug 10 Rg
JWVli i " J ''(National Tube
3 784, - 101 Cemp'y Sa
Bell Telephone 'line 1 Llec js 10 1004
of Pa 7 ! 101llNew Engd Tel
1.... lO,'Cine'l E'ee ' 4 Tej t9
2... 1084( - 1034 8 984
I.... 10S" . JV 1 084
The averuge price of the twenty ac
tie industrials declined 0.07 per cent
jmeruay te iu.ua, wmie the twenty
railroads declined 0.S3 per cent te
S4.31.
Drexel & Ce. announce they are
prepared te clelUer Erie Railroad 5Va
per cent equipment trust certificates,
series "G G" in definitive form, rn
1 704 exchange for their interim certificates.
M Kan A Tesi U. J. Uuker & Ce. and the Central
aj Sa wl Trust Company of I.lineis are efferins
f.O t 1 1-Li,in v -. . -
1 784
llldvale Steel
A Ord'c 3
3 814
1 894
1 894
M K A Tex 4a
10S4,Cecdrlch B F
1 103 64 rets
Cethle'm rJteel 1.... 101
3s of '36 . 9.... 101
1.. .. 03 4.... 101
Beth bteel C;5rxlear T A
2 984 1 Hub r 8s '31
2 .... 9l4l 10 08 4
Brier 11 Steal 1 .... psl
Ce 84 wl ICfJOdsear T 4
4. .. 434ltub'r Bs '41
Bkn Ed! D 7 6... , 114V
z... IVfrt1 1.... 1144
B Rap T ct 7s (jr-d Trunk of
.. .. s'i 1 can as rets
Canad'n Nth'n 4 1034
64 rets j,,,, 10S4
1 . . 1114 or-a Trunk ut
Canad'n N 7 Canada 7s
1. .. 11241 4..., i,j4
Can an Pae 4s 2,,,, H24
rti"n't"a 'Great Nerth'n
a ioesii'y 54.
New Or Tex A
Mexico Bs
1 784
N T Air B Os
. . 1014
N T Ct'l 4 4s
1 88
N T Ctnt'l Ss
30 07
10 074
8 97
V V Cent' I He
a.... 1044
7.... 1014
N Yerk ndl'n
04 ret
1.... 110'.
New T N H A
II 34s '34
9 484
New X S II
4s of 'B7
2.. .. 40
By Aotaeietset Press
Washlniieu, 'Dec. 6. Fermer Pre
mier Cleraenceau haa been Inrited as
guest of honor at this erening's session
of the eighteenth convention of the Na
tienal Rivera and Harbers Congress,
which opened here today. The meet
ing is te last for three days. These
expected te address the. delegates In
clude Secretary of War Weeks and
Secretary of the Navy Denby.
Debate en the question, "Should
Water Competition Be Considered Jus
tification for Relief from the Txn-and
Short Haul Clause," was the feature
of this morning's session. The sfflrma
tire was presented by S. J. Wettrlcl,
ntternev for the Seattle Chamber of
Commerce, and the negative by Frank
Lyen, of Washington, attorney for the
Luckenbach and ether teamsbtp lines,
Mr. Lyen will also speak for tbe Im
mediate Rate Association.
"American Transportation and Its
Problems" will be discussed at the
afternoon session by Charles H. Mark
ham, president of the Illinois Central
Railroad, for railways j Representative
Newton, of Missouri, for waterways,
and Wlnthrep L. Marvin, vice president
and general manager of the American
Steamship Ownersr Association, for tbe
merchant marine.
General William M. Black, former
chief et engineers of the army, will
argue In favor of formation of grAt
corporations te use every form of trens
portatlen and will recommend that
National Hirers and Harbers CenaTtat
change Us name te National Transper
tatien Association and work xer aucn a
system. . This preposition, efflclsla of
the congress say, may precipitate a
lively debate. Majer General Lansing
H. Reach, present chief of engineers.
will speak en water terminals.
At ether sessions Mayer Moere, 01
Philadelphia, president of the Atlantic
Deener Waterwavs Association, will
speak en the Atlantic Inland waterway ;
Rev Miller, of Cernus Christ!. Texas.
rnf Ih, American Society j J ftf&JlE2Srfc
Linlneers. vision of waterways. Department of
rubiic works and Buildings, Chicago,
will speak en tbe waterway new under
construction by the State of Illinois,
which will open n channel from Lake
Michigan te the Mississippi River.
Other speakers en waterways will In
clude Julius H. Cehen, counsel for tbe
Pert of New Yerk Authority ; William
(t. Hruee, chairman of the Beard et
Harber Commissioners, Milwaukee: J.
H. McCallum, president of the Cali
fornia Beard of Harber Commissioners ;
Mayer E. Lea, of Orange, Texaa; A.
M. Lnckett, acting president of the
Deck Beard, New Orleans, and Mrs.
Sarah Wlllard Strout, of Portland. Me.,
president of the Weman's National
Rivers and Harbers' Congress.
At the annual banquet of the congress
tomorrow evening Mayer Moere will be
toastmaster.
WOULD EXPLOIT ORIENT
Far East Is Geed Plsld for Unlttd
8tates Imperters
Cleveland, Dec. 0. American manu
facturers were advised te turn their at
tention toward the Far East as the
most likely market for their products.
In addresses by chiefs of the United
States Bureau of Foreign and Demestic
Commerce at the one-day conference of
foreign trade experts and manufacturers
and industrial managers of Northern
Ohie here yesterday. Dr. Julius Klein,
director of the bureau, and ether
speaicrs 10m 01 me service ine bureau
offers te American exporters. ,
"The Far Eat haa recovered very
largely from the exchange troubles that
developed during the war," Walter II.
Rastall, chief of the Industrial Ma
chinery division, said: "Conditions in
the Orient are much near te what might
be called normal than are these in
Europe."
TRAINING THE WORKERS
Industry and Education Figure In
Mechanical Engineers' Forum
New Yerk, Dec. 0. Forums en In
dustry and education, in which speak
ers outlined pregr? s n nde in manage
ment and in the training of the Na Na
teon's workers, were the chief event in
the sessions yesterdni of the forty-third
annunl meeting
of Mechanical
It. L. Sackett. deHlt of pntr!nireln-
Pennsylvania State Cellcae, described
schools for apprentices and shop train
ing, and said that mere attention should
be given te organizing the lnxtntctlen:
the te be trained should he heTected
with mec dirvriii.iii'itieii ; instructors
pheuld be chosen because of their skill
as workers and ns tencliers, uml the
Instruction should be e arranged ns te
give the new emplee the best infor
mation available about his job and tbe
methods, materials and machine." used.
c.M.,1 P.riHH Z.... 1014 S 404
. ... t inll't. .n..
3 8041 101VI . 0
Cere' de' Pascel . 1014 N Yerk Sut
Cep' r 8s Grat North 0 Hbs 44a
1.... 127 Rall'y 7 2 66
1. . 127 S. .. 1104 N Yk Tel 14s
C A Ohie 441 2-"- nel 1 94
1... . 834 ... net New Yerk Tel
6s et '41
1.... 101
4 . 1014
4.... ln-.i.
U ... 1UU4
Tel
1... 1104
Heck Val 44e,
4.... i 1
2 sa
Hudsen A Man,
V
aV'.
In adj Ss
5.... CI
I HI'
C A O cv 44"
! 88i
Clies A O c .'s'
4 9:4
3. ... 024
3 924
Chi A Alt 3
1 52
Chi A Alt 3'
10.
Chicago A Alt
char Oa
a fieu KelK 54
Chicago A L'T
III 3 'SI
1 811.
" V!'',lHuden A Man 10 ' 100
-! M 3s v ik IV C
H'
S4 4
r.fl!.irttti. It was said. '
ftiXTTlEaicetnuany was founded in Pitts.
ref.trMrJt'la J82 by the late II. F. Jenes,
y.va .-. virtually
m
l by th
all of
':C7ei,vlrtually u of the stock has been
Wv.'.4d by the two families represented
'$&$,) C0AU 0N HEAT BA8,S
)$,'ltMbmilH.Mthv Dec 0.-The plan
L! J&MlH) Fuel Administrator, for the pur-
- :l'ltmt of coal en a heat-unit basis waa
'iR-iatfatevcd by the State geologist's
'- aassaai: and 31 r. 1 "otter is expected 10
JSMd installation of the sjstem
State. As outlined by the State
ktsat, tbe plan pruvides for an
tJW make beat and ash deter-
W irODi uaiuiuc eriurv i-eui 1
M
M?
'
CahUln Ottrgt 'Qarey
4VIM. Dee 0-- Captain
ft' "Ml fn 0M inrnMrly
:.,ua SMHa
micage Mil Ai'"'' ten'l 34 si 1 . .. 89
St PI 34 2 Jl 'N Fa"' P 0'
82 03 I 1014 1 102',
Chicago Mil 1 1014!Norfolk A Wn
St P 4s '2S Ills Cen'l HtL tv 0
2 804 Dlv 84 I 5.... ill
8 M14, 5 6IH N A Edl'n Ce
6 SO it India Steel Bs 6s ret
5. ... 804 3, .. Ui04 1 914
20. ... 804' 1,... 10041 1. ... el4
(.nicage Jill A.lnterbore Mel 1 03.
ct 44 t'd 'N Pacific It 4
Ware Legislature.
r.atUssMsatatUtUt
tit P gin 44s
8 824
Chicago Mil a
St P cv 44
10 67
ftUale) 004
'J..,.. 064.
82(u!e) 004
Chicago Mil A
Ht P Me niv
3 07
Chicago flt P'l
M A O en
Ksale) 1034
Chi St Paul it
A Oma 6a
1.... 1034
Chloage A Wn
Indiana 4
4 744
CM neck 1
Pae fd 4
3 834
Cbl T Haute A
H E'n B
1 824
3 as
nil ces'r
00
8.'.... 06
a ta
aula Otfr 7
1.1., I"1
5 . .. 104
Internum ltui
Tran fd ct
1.... 744
1 75
lnterbore Hap Bell Tel 7s
Tran 7 wl 1. 107 4
20 984
37 964
5 004
I M Marin .
a 804
a se
Int'l Pap b Be
1 814
2 87
8..,.. 87
Kelly Sprl?rd
lire ss
2.. . 1004
Knekuk Des
Moines 5
1.1... 924
Lacka'a 8teel
Ba of 'BO
B 90
L Val en 44
1 S3
L Val Cea' 3s
.,.. ItSt,
"V
.? i'" . $1,130,000 first mortgage fifteen-year 7
, ,1c. per cent kinking fund geld bends of the
.'! 384 1 Everlastik, inc.. manufacturers of elas
! ! C84 I tic fubrics. The bends are being offered
at lwi and accrued interest te yield 7
per cent.
The meeting of Great Northern di
rector. te act 011 the semi-annual div
idend has net been definitely fixed, but
will prebabl net take place before next
week. Seme of the directors who are
also directors of the Burlington are in
Chicago for a meeting of the beard of
the latter tedaj.
Fuuieus l'laers-Lasky Corporation
In its consolidated statement reports for
nine months ended September SO net
operating profit $2,800,272, ufter r11
charges and reserve for Federal tax.
After allowing for preferred dividends
then earnings art at an annual rate
of S14.J5S a share en the common stock.
The Committee en Arrangements, of
the New Yerk Stock Exchange has is
sued new ru ings covering transactions
111 odd lets of lieudn, these rulings being
adopted for the purpose of giving the
small investor a better market for his
bends while, at the same time, the
bujer of bends in small amounts will
receive a better execution of his order.
Ha) den, Stene & Ce. are offering
at 85 and interest a new Issue of
$4.0-13.000 Dominion Iren and Steel
Company. Ltd., consolidated mortgage
e per cent oends, due aepiemuer 1,
103!). guaranteed principal and interest
bv Dominion Steel Corporation, Ltd.
Principal and interest en this series is
pii)able in United States geld coin in
New Yerk, or in Canadian currency in
Montreal or sterling in Londen.
A plan for the payment January 1.
01 the Manhattan Railway dividend
rental. Including arrears, is under con cen con
siderutien bj the Interboreugh Rnpid
Transit Company. It Is proposed te
eles" the books December 15 nnd pn
in Interboreugh scrip 84 Per ccnt ac
cumulated rental en $00,000,000 Man
hattan stork in the nine months' period
ended June 30, 1022, and in addition
te pav in cash 1 per cent due under
the terms of the Interboreugh-Manhat-tan
readjustment plan for the six
months ending December 81, 1022.
The American LocemotUe Company
in the last few weeks hns taKen orders
for 107 engines. The largest single
order Is one for forty -nine engines fur
the Northern Pacific, already published,
r. .n,i Ttln Grande has beii"li'
twenty-five, Including ten Mountain
tipe and fifteen Mallet-type. Delaware,
Lackawanna and Western five Purine
tip.-, 800 Line five Pacific nnd Jersey
Central ten eight-wheel switching en
elms. Total orders are distributed ecr
fifteen reads.
LONDON 8TOCK MARKET
Price Mevttntnts Narrow Oils lr
regular Frtneh Leans Dull
Londen. Dec. fl.-Securities generall
en the stock exchange displayed sta
bility today, but price movements were
narrow. Heme rails, after firmness
early, turned easier. Dellar descrlp descrlp
tiens were flabby, moving with New New
Yerk exchange. Argentine rolls were
hard, the recent selling having been
overdone. , , . .
The oil group was Irregular, but
softer In the main. Royal Dutch was
34. Shell Transport ami Trading j
and Mexican Kagle 2'4. Industrial
were brighter In spots. Hudsen's Bey
was 7 18-10. Rubbers were well main
talned, owing te the Improvement in tbn
crude article.
Alterations In the gilt-edged division
were unimportant, but consisted roebtly
of recessions. French leans were dull,
following Paris.
FORMER BROKER ACCUSED
Bad-Check Charge Brings Fourth
Arrest for Lloyd V. Gilliam
Lloyd V. Gilliam, of Oxford street
near Sixty-first, a former broker, was
held in SJiOOO bail jesterday bv Maris.
trate Renshaw, charged with isuing a
wertniess cnec unu nise wuu fraudu
lent conversion. The chnrge was the
fourth which Gilliam has been com
pelled te answer within the last few
months.
Th" accusation was made by Dr.
Philip Getson, of Mejiimensing aieniie
near Wharten street, who testified he
intr.isted te Gilliam securities and
money ter investment. When he In
quired concerning the securities, he
said, he wns refused information. Sub
sequently he received from Gilliam n
check for $892.03. which, he bald, wns
returned te mm ny me. eanic marked
"net sufficient funds."
RUSSIA OFFERS ARMY CUT
Down te One-fourth Is Proposal
at Disarmament Parley
Berlin, D'-c. 0. Advices recciied
here Ba that Muxim LitUnev has an
nounced at the Memiiw disirmnment
conference that Russia is prepared
within a jear and a half or two years
te reduce fts army te one-fourth the
firesent strength if its neighbors de
lkewlse.
He also proposed the establishment
of n wide neutral zone dveid of troops
en both bides of Russia's frontiers.
ACTIVITY LAST MONTH
IN COTTON PIECE GOODS
Purchases Included Nearly All
Lines, Qlngham Being Quiet
Cotten piece goods wholesalers say
November developed the largest month's
business since June. December is usu
ally dull, but thev are doing a fair
volume et trade. One firm with lib
eral stocks did net fellow the primary
market advances nnd in consequence is
finding an excellent market.
Purchases include nearly all lines
except ginghams, which are quiet.
Staples are expected te be mere active
after the first of the year, and a let
of goods are already sold for January
deliver. Up-State business Is (reed
and the coal regions are buying freely.
Sales in the Seuth and West are unusu
al !' geed.
Retnil stores nre bulng freely of
novelties for Christinas. Lecal whole
salers report scarcity of goods at New
Englund mills and advancing prices.
KILLS 405-POUND BEAR
Wilkes -Barre. Dec. 0. A black bear
weighing 405 pounds was shot yesterday
n Poconos by Jehn Matijek, of Moun
tain Tep. The animal was placed en
exhibition here.
New Yerk
fls of '49
1 . 100
Iioet 44a
S 414
n .... 4i
B 134
4... 1,74, 7 IV,
Ills Cm 4J -BS II ... 43
10.. SI 4 Nfk A W'n Is
01 .
3.... 814
N I'aclnc U Us
12.... 10SH
N-rlh West'n
Ore A Calif Sa
a.... 1004
Oregon S I. 4s
10... . 92
18 014
Ore-W R It A
Nail Ce 4a
2 814
2 814
Pae T A T Bv
i 974
Patina Tel A
Tel fd Ba
1 014
3 914
1 0114
2 014
Pan-A Petr'm
A T Ce 9s
1.... 1034
raRim 44
I,,.,. 90 4
f
.,,
Kingdom of the Netherlands
6 Fifty Year Lean of 1922, Series A
Permanent engraved bends of the above issue are new
ready for delivery by Central Union Trust Company
of New Yerk at its office, 80 Broadway, upon surrender
of outstanding Interim Receipts of Dillen, Read & Ce.
Netice in regard te Interim Receipts marked
"Series B" will be given at a later date.
Dillen, Read & Ce.
Unltated Bend
Fabian F. .Levy
PT4NM1 Building
MrsUat Mala U7I
1 L.-i, -. Mil
lsY asBSBSBBl SMBsaVlaT' -T
... 'I . I
Ratings and Radie
Seme people dislike both the League of Nations and
the Radiophone because Washington's Farewell
Address made no mention of either. There may still
be some who think that because Nathan Rothschild
get along without investment Ratings, they tee can
afford te be ignorant of them.
But we new tee that Radie is simply one step in the
development of science, following the wireless, the
telephone and the submarine cable. Just se, Meedy's
Ratings are part of the great growth of institutions
designed te aid and protect the investor, along with
the modern bank, tbe stock exchange and countless
ether contributions te big business which the first
Rothschild hardly dreamed of.
Our new booklet, "The Art of Wise Investing," will
tell you all about our Ratings and Service. Send for
a free copy.
MOODVSlNVESTORS SERVICE
34 Nunu Street. New Yerk City
'
MlaUsilM
aovreN
Ml Mat It
CHICAGO LOSANGBLM
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RAILROAD EQUIPMENT TRUST NOTES
WE OFFER, SUBJECT TO PRIOR! SALE, THE FOLLOWINO
AtlantteCeaitUneRiu1way6yi, Fd- 19MJ5
Ba,riinere4SiOhkRtUwiyg6V Jtv 1931-35
Canadian PKlfic RaUway 6 6&A.1925-32
'Chesapeake 6a Ohie Railway 5VV June 1933 '
t rJiir.m. Reck Island &Pac'6's Jan. 19335
ErleRaUread5't(w.i.) N4aM.1923-25
Illlnplf Central 1LK.4W Oct. 1934-37
Illinois Central R-R-T's Oct. 1930-34
Louisville tStNuhvUle Rwy. 6'2's Mar. 1934-36
' MlnneaDelU6t St. Leuis R.R.6's ' Jan. 1935,
$15,000
10,000
20,000
,000
20,000
100,000
120,000
20,000
30,000
5,000
20,000
75,000
50,000
3s;oeo
50,000
5,000
80,000
33,000
55,000
25,000
25.000
25,000
15,000
10,000
55,000
200,000
' Nashville-, ChattsnoegafitSt.Louli4,l, Oct. 192528
New Yerk Central Lines 5'a
New Yerk Central R. R. T
New Yerk, N. H. & Hartferd 6'
Pacific Fruit Express 7's
Penna. Ceal & Coke SW
Penna. Railroad 6
Seaboard Air Line Railway 6's
Seaboard Air Line Railway 6's
' Southern Pacific R. R. 7's
Southern Railway 5'a'
St. Leuis-San Francisce Railway 6's
St. Paul Railway 5'a
Wabash Railroad 6's
Western Maryland Railway Eq. 5's
Miscellaneous lets' of $20,000
June 192435
Apr. 1926-35
Jan. 1931-32
Jane 1925-34
May 1924
Jan. 1928-33
Jan. 1924
Jan. 1925-32
June 1926-33
May 1927-36
Jan. 1926-32
July 1928-30
Jan. 1935
Oct. 1931-34
Jan. 1924-25
rttaesayMsT
5.1096
5.50
5.15
5.20
5.50
5,00-5.40
'4.80 .
5.10
5.10
5.65
5.00
5.00
5.15
5.75
5.15
550
5.30
5.25
5.50-5.70
5.10
525
5.50
5.25
5.50
5.1Q
5.20-5.40
AH
Issue! imdn'rlrilsilslphla Haa i Issued bv DkTtctet Otaersl of tUllre4b
Commercial Trust Company
Member Federal Reserve Spjtens
CITY HALL SQUARE
New Yerk
Curb Exchange
Stocks and Bends
In response te many
recent inquiries en
Radie Corporation
of America
we have prepared a new
report en this security,
giving recent develop
ments as well as a statisti
cal analysis of condition
and prospects.
OpyviBkmtjtm
MfSfSeVf
Tenes &. Baker
Mtnhm UtwYmkCmb Exchang
Direet t-rlvst Wire
New Tens Catcst Beetea PbDseMssIa
rtnskcri Petrelt Salilawts CleeeUad
PHILADELPHIA OFFICE
WUaevB4ail(Ung
T4ikMMM . ' locust 47 JO
Tiissnuau gisjiai rjuce jaai
BALTIMORE OFHCB
Emereea HemI
iS4S1
,
Opea V w9Miiy7 I
s.se a. m. ymmkWJ
te MlOeifkl "
Dlly sis
I
Capital and
Suxple
12,000.000
Superstitions
A booklet wkick slUpela many
misuaelertUnding and sets
forth th eountless advantage
ef a Will
Senef tr m copy
FRANKLIN TRUST CO.
15th St Belew Market
Successful
Speculation
Strange as ft may seem' your weeest In tte miriNt dvsadl
mere upon uihtn than upon what you buy.
The great baste law of Action-Reaction spvetns bem SMCulstrv sad te
rsstmset taarkess meetly as It governs out mechanical and scientific wetus.
Chances within the concern Itself causa its securities te fluctuate widua
a rang of the 10 points. These "ripples" cannot ba forecast in any war,
Artificial market msnlnulatlens are responsible for miner mevsmsaii
ting fet a ftw dsvs or a I sw weeks. Thee kranss" an tmnatursL trtn
dsL and are etTcctive only as long as the pressure is kept up. They cannot
bs forecast in any way.
Changes In the Rrndstnesttal Conditions tadstrytefl the bustness wetU.
meanwhile, cause the whole tnsrkst te travel its reguTsr cycle showing sa
!?4 tlM ,nd Z11. fluctuation of around 50 points. These the
tldes7-travel with almost clock like ngulstity. They csa bs forecast with
remarkable accuracy. S. Sell e4 at th. top erf the Iweti
The Leagwing Method aSCKL. a.
The comsnen sense method Is down swing.
evident. Intteadef gambling en the
iipplee-lntead betting agsinit the
"Insiders" instead of trying te run
crew current or counter te funda
mental conditions, take adrantate
of them.
1. Buy at the bottom when funda
mental conditions have forced secur
ities far below their true worth.
2. Held through the rising market
in tplte of miner movements, rumor.
ana gossip.
RESULT Yeu enlev half anin ta
twice the usual return without the
risk, worry or less involved In ordi
nary speculation.
The Opportunity New
Certain stocks are at or near the
bottom of the cycle and should be
purchased at once. Others are rapidly
appreschlag a buying point.
If you are a buyer of stocks and
miss this opportunity you may have
te wait three te five years fet another
as favorable.
Send for Booklet Today
A request en your letterhead will bring samples of recent Bulls
tins and booklet Getting the Most from Your Meney" gratis.
Tear out the MEMO newand hand it te your secretary when K
you dictate roc mornings mall.
Mtrtty vttk for VoeklH li 34MF
Babson's
REPORTS
Bsbsen Statistical Organization
!!4OraiirtaflaiCaaaciwteiaWwU
'MEMO"'
Fer Year axrttsry
Write Babson's Statistical Organ
ization, Wellesley Hills. 82, Mass.,
as fellows! Please send me cesy
of Bulletin ssmp and book.
let "getting
the Most ram
Your Meney"
gratis.
() aai
(39
C. S. PATTON CO.
SAJIflttJJlTjjVjjSON
"tfeealieVa fflfs. ts?C VTa
a-,.
Frederick Peirce
&Ce.
noNes
rea
INVKHT
HBNT
ter Seetb Flftwath Stt. rhlUAisUa
I
WE OFFER
a First Slertgage Rallrnad
bend, guarunteed principal and
Interest by unp nf Hie beet'
known Kallread systems In tl
Vnitcd Slates.
Prlee te yield 8
F. P. Ristine & Ce.
Wiitstr BaiMisg, PUUdtlpUa
Mew'Xerk ElUaestb. V, 1,
Ilimker iVsui Yerk anit I'il(4illa4a
SKirw JSrchangu
Bend Salesman
A well - known bend beuse
handling only high-grade, issue
desire tp employ an additional
salesman en very attractive
term. In consequence el 'the
firm's rapidly growing eati'
nest, this opening otter an
exceptional opportunity.
should appeal te you if your
f resent situation held out
imited premise for your future.
The attention of our own al
men ha been called te this
advertisement. Replies will be
considered strictly confidential
nnd should be addressed te
13 43 1. Ledger Office.
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Bsctaaecav
Means IXtq Saving
Peewylvagss hskasiry EmIsMm
mmmmmt St. tkhn fewtaaasas
aitera Steal 5s, 1131
Csatral Vermest 5s. ItSO
Central Power k Lt. fi, lt4f
Secead Aye, Trae. 5s, 1134
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