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EVENING PUBLIC LEDGER PHIEAT&ELPHIA. MONDAY.' DECEMBER 11, 1922
m 22
fji "in niAnirT unim AMn
rV.'- luuinnri nun uiuii
k
i
HEfl UY. PCK & CO.
NEW YORK, CHICAGO
. ST. LOUIS RR.
FIRST 4i
' OCTOBER 1, 1937
PRICE, 91 AND INTEREST,
TO NET 4BG",
PENNSYLVANIA
.WATER & POWER CO.
FIRST 0$
JANUARY 1, 1940
PRICE, 07',i AND INTEREST,
TO NET 5 25
PENNSYLVANIA-OHIO
POWER &. LIGHT CO.
FIRST & REFUNDING 7i'j
NOVEMBER 1, 1940
PRICE, 106'2 AND INTEREST,
TO NET 6.86
305 CHESTNUT ST.
PHILADELPHIA
SPONGY H SPOTS
Speculative Favorites Under
Pressure, While Selected Is
sues Make New Peaks
NEW YORK STOCK EXCHANGE TRANSACTIONS
Onf AfUrnoen Repert In Phttadrtehta Quoting Full List
rami win in J i iiii"rru n i'ttiiii i iwiwiiiiwaE
ESTABLISHED 18S3
BIOREN & CO.
BANKERS
410 Chestnut St., Philadelphia
Government,
Municipal, Railroad
and Corporation
Securities
ilembrri Xrv Yerk and
rhilai!''nhla Stock Kxchaneei
wiiip' it r m ' i'" h wph ii iiHiwir! itn
it-
Founded 1879
STARR
SAVINGS BANK
520-22 S. Ninth St.
New Yeilc. Dec. 11 Tl.r- new week
opened without tM-iiite elinnjrp In the
Konern chni.u'terlMli'i of the stock mar
ket, nml tlie price vnrintieni, miu'li the
satjie ii" in the preci'ilins msIeii, top
refilled little el-e tliiin eiTeits en tile
part of contesting four of the pin-fe-Hlfinnl
kpeuil.ituiB tliinent te piin the
tidvintiige. The honor-, in se t.ir ni net
results were concerned were about even,
for while there vv.is renewed -ellinc of
H'eculative fuv erlte, ether ".e'leeted is
sue" were liiiiiked up, vvciiil niiikins
new peak pi lie".
It has been v.ine time since the mar
Let li.is se ( !eel fellow til what could
be termed as n set prtijfliim for suih n
letisitlernble lensth of time. I)n b.v
d.i news receiver ver.v little considera
tion, evept ii" repaid" developments
within the indivnluil temp.iuie" ion
e trued, which is uv.iil.ible for immedi.ite
iimiimtitieM. but which has little or no
bi'.uini; vvniitevtr en the general situa
tion. There was, however, little of an in
splinu make-up in the evei -the -week-nil
development". Ctble iidvlies bow
er, indicated some itnpreeaii nl In
lereign Mtu.itieii. News tieju liuHls
tiial and cemmcrtinl weild letild be
lUsrrllipil ns piieeiinitriinr. tiiilirnfi'i
H tentinm-d expansion of business ni-tiv-
n.v l.iriini i eillli minion wus u nr
found in the tepeit of the Department
of I.iber, shewliu the lneieii-e in em em
p'e.Maeni in NeMinbei was the Brent
c Mine diuunij. Trade reviews te te
pertcd lecent gull" in the West were
ii" I citih held, but Imtl.er (Min were
b m,; in n!" 'Mien tin te was the ton ten
tinned steadiness of teieinn eehatiKe,
ami also the material improvement In
tin- ie-irve position of the bank" as
Indicated in iturd.i.v ' wiekl.v Clear
!iu ll"ii"i' stntemenl.
Thesi ceiistnictive event", mlcht as
well have been in the 1 uiKiMge of the
J neks, b.'cause, interpreted triiiu a
rn itk" t viewpoint, they were it prill;
nine id ible
Nitieiiil Lend was an eutstanding:
fi I'uie of the irregular opening, mak
is ii -Ii irp advance of mere thin ."
1'i.iut" tn I'J'.t't. a new high record for
tlii je i' I'i'ak price" wire also i
t iblished bv " tlngheii-e Air Itlake,
md a tew ethiMs, hut the main bedv
et stm U w is without nnv i tiled Mend.
l.liuidatlnn of some wi'ikcned
ai count" anil heavv sheit w lling of
sniiie of t'ae speculative' faveiites
i iiisi-d a nai-tieiiarj treml in u Urge
turt of the list around the end of the
first hour Oils proved particular!;
vulnerable te selling pre.sure. but
material recession" al"e were noted in
vic.li stocks us Minienuuer. lialclvvin,
I
H
p
H
i
i Arir,,ini-eG tn itQ rrrQfnt
! and prospective depositors
!. r . r "in u siuvis '" .''luiieiiiiiver. li.uciwill,
that its rate or interest ter j it(.plliie and tJulf Stntes Steels. (Vm
. 1Q71 V,n kn inrrpnserl tr ! ""'lldatecl fill", riiited State" Alcohol.
10
1923 has been increased te
4
Ask te see our New Card
System for popular saving.
r
r!ijuwMfti
U flj-B&nSgz-"
I'ameu" I'lajers and Hums Itinthei
The decdlne was net Keni ral, how
ever, speculative buvinc keiiik en in
a number of selei ted "hares, netablv
in the feed, cliemlcnl. zinc and public
ultihtv Rieiiiis unci Crucible Steel and
deneral Asphalt. The steadv nbsoip nbseip
timi of these issue", which were marked
up 1 te .'t points, combined with a
lower lenevval rat for call menev
eventuallv tait"ed a Ejnipatlietlc hard-
mug throughout the list btfmc. mid
da; .
WE OWN
Township of llniiunilnaen,
N. J.. -I'-i't "tlioel lienet
maturlnB lU-J.-l'ni), which we
offer lit it prlte tu lelil 4.30Te.
Till. U the township's only
funded debt.
F. P. Ristine & Ce.
Widcner Btuldint, Philidelpkia
li.w leiH Elmsuta. Ja. 1.
MtmVtre Aeui ierk aitu i'itUiMItM
aiacK jtxcnomef
m
mu - tfA
OPEN
8:30 A.M.TO Midnight
DAILY
Interest Paid en Checking and
Savings Accounts
FRANKLIN TRUST CO.
15th St. Uelew Market
A2d Drluunre Are.
imd unit
Market Ms. Mirket 'treet
S"H8 firrmiintewn ve.
Commodity Markets
GRAIN MARKET
Clile.iKO, Die. 11. Although wheat
touched a in vv high price record for
the st'isen teclnv in the earlv cleuling",
the market seen underwent n setback.
Preht-takini: en the pint of holders,
together vvi'h the t.ict that Liverpool
quotations tailed te ri-tlei t full; Satur
dnv's advame in Ami'iica, was the
chief riasen given for the decline. On
the ether hard, bulls continued te
emphasize gossip about ptopesid legl" legl"
latien te provide credits for farmers
and enperti rs.
The opening, which ranged from '4c
decline te '-jc advance, with Ma;
SKlii) te 1 (.. and duly 51.01) te
SI. 10. vvu followed by Hlight gains
and then bv a general Bag te lieluvv
Suturda; 's tini"h.
Coin and eat", as well as wheat,
it. Tlied new top prieet for the season
hut Inter cased oft with wheat. After
opening tine hanged te 1 up, May
71 '.cr t" 7l'1ie. the corn marktt lest
most of Its gain".
Oatn stinted ',! te ahe up. May 41Tse
te 1,'if, mid later held around Saturdii;'a
latest hgllles,
l'rovisieus were higher In line with
In g vain
Mny . ...
Ji
I
iliiv
Ju
i ats
I
Ju ...
lt
M"J
.. 724
.. TIN
.. 7U
..i.sa
..i aei,
..1 CJD'j
.. 4.-i'
41'a
.. 41
Op"n
73 te T.Vn
714 n 7C,
71 Si? 71'.
1 22 Wl 22't
1 20 fi 1 2'i'
1 10 Si 09
44'.
41S
UO'u
45
41',
Jllctl
7.'.
71's
7ii'j
1 21',
t ll'Ti
1 10
4Jt
41',
11
fiO1,
Rockhill Ceal & Iren Ce. 6'i, 1940
North Jcney St. Ry. Ce 4'i, 1948
Braih Electric Company S'i, 19S2
Mnntiemerr Lt. & Water Pr. S'i, 1943
Indiana, Celumbnt & Eaitern 5'i, 1926
Serimficld Water Cempanr S'i, 1926
Lekigh Navigation Elcc. Ce. 6'i, 1943
PtnniTlrania Liibtinr Ce. 5'i, 1940
Hetel Trajmere 6', 1927
Cem. Traction Ce. of N. J. 5'i, 1933
Pkila. & Garretliferd St. Ry. 5's, 1955
Chester. Darby & Phila. Ky. 5's, 1943
RiTtrside Traction Company 5's, 1960
Quincy Gas & Electric Ce. 5's, 1929
Buffalo & Susquehanna R. R. 4'i, 1963
Psnnsylrania R. R. Company Underlying
Issuts.
Pablic Service Cerp. of N. J. All Issues
SAMUEL K. PHILLIPS & CO.,
Mtmbers Fhllidlnhla Stock Exchance
607 OHESTKUT STKEET
COTTON MARKET
New Yerk, Dec. 11. In the early.
dealings tedu;, the in irket fur cot-'
ten futuies whs tinner, in sv inpmhy
with ii sharp upturn at Liverpool, j
l list priees lieie wi-ir te ie i ieiIlls
higher, with iJupuuese intere-tn, the
t entinent and spot houses the bst
biiveis The Times I'lcavune crop es
timate wan lensuiereii bullMi. Liver
piicil, the Seuth and Wall Street sold
uiederatel;.
Later, the list was a little easier,
and about ii te 17 points off from open
me leveln.
Trcvleua
f'leiiv
... '.M ss
. .. LI D.'Win
,... ;r, Viuu
... 2.'. 010 OS
, . .'4 7374
ntv
Sili. tn I
000 .
8400
200
1700
300
100
100
MOO
200
100
100
100
1000
100
900
1700
200
500
200
1100
G20
500
100
tee
200
1700
300
330
100
1300
200
500
1000
100
900
200
100
900
100
1000
1940
100
10
100
400 ..
7100 7
1 900
300 . .
1200 .
iOOO Jii
.100 .
100 J
2.100 ;
200 ..
100 ..
300 .,
100 .,
12C0 .,
100
2100
2000
17400
2200
200
100
5200
200
200
100
100
200
1500
1700
800
100 6''
200
100
300
2000
2400
100
700
200
100
4200
100
ZOO
100
100
100
1900
100
500
2200
2000
4100
200
4100
9800
100
2900
7900
200
40
2000
200
1700
3200
100
100
200
500
100
2100
200
500
200
2800
100
900
300
3000
100
100
600
400
200
700
100
6300
200
100
75
500
4400
200
200
100
100
J00
1200
1000
100
100
1300
15 0
600
100
100
100
300
400
100
STOCK HUh
. AJ.nc ltubber 13".
4 Allied Chem & no 7814
4 Allls-Chnltners 44
, . Am Atjrlc Chem... 31 Ji
. . Am Agrle Chem pf. 60
. . Am Beet Sugar.... 41
. . Am Uesch Magneto. 35
C Am Can 73H
7 Am Can pf 11214
12 Am Car S. Kely 184J4
. . Am Cotten Oil.... 18'i
. . Am retten Oil pf.. 35
. . Am I 'rug Syn Gi
. Am Hide & Leather 104
7 Am Ice 110H
, . Am Intermit Cerp.. 29r'
1 Am La Fiance Ung 11J4
. . Am Linseed 30
. Am Llneed pf . . . . 40 V2
fi Am Locomotive ...123
7 Am locomotive, pf.,120
3 Am Metals 47 H
7 Am Metals pf 110?$
J Am ltatllnter 118
U Am Safety ltazer. . CT4
.. Am hhlp a. Cem... 2134
.. Am Smelt 54 U
7 Am Smelt pf 99H
12 Am Snuff 148
3 Am Steel Foundries 38J.J
.. Am Sugar ltcf .... 76 J4
.. Am Sumatra 29 H
9 Am Tel & Tel 1 24
12 Am Tobacco 54
7 Am Woolen .... 95
.. Am Zlne I-d &. Smelt 16
. . Am Zinc Ld & S pf 51 !j
.. Anaconda Copper .. 48 a
4 Asse I'ry Goods . 66
C Alch Teil & San Ce 101
D Atcli Tep S. S C pf 91 l
. Atlantic Krult ... 1 Ji
20 All IteflnlnR .. .1225
.. Aute s,ici Cerp pf. 14
.. Austin Xlcliels .. 32 'i
7 Il.il'HvIn Locomotive, 12414
. . Ualtlnie u & Ohie.. 43 'i
.. U.itepil.ts Mlu .... x
I3am"d.i!l flass A. 33'j
Ktechnut Packing.. 52 H
. lietll Stl 7 Pf new 95 '8
5 Hcth Steel 8 pf .111 '-i
. Beth Steel 11 62 3J
. . Beeth Fisheries ... 5
. . Beeth 1'lsh 1st pf.. 30
. . Brit Km Steel 115
.. Bklyn lltplil Transit 16)4
.. Brown Shee 61 H
7 Burns Bres pf 105
10 Burns Breu A 1 45 J4
'2, Burns Bres B 46
.. Butte Cep & Zinc. 9J4
'. Butte & Sup Cep. .. 31 3i
. . Cndde Cen O & II . 0
6 California Packing. I Vi
.. California Petrel . 564
. Cal Zinc Mild Lead. TV
Canadian Paeltlc . 141
. I ase J I 3'levv ... 3'i
. Central Leather ... 3T4
. Cen Leather pf . . . 70 4g
. Ccrro-de-1'.i.see ... 43
fi Chandler Meters . 63
4 Chesapeake . Ohie 66
6 Chesapeake & Oh pf 1 01 ',
. Chicago & Alten. . 2'8
. Oil tv. i; III 27 'a
. e'hle.tge & Cr West 4,
. Chi Mil & St P 22 '4
. Chi M & St P pf . . 35
5 Chi & Northwestern. 80'j
. Chi R I & Pac . . 32?;
6 Chi H 1 Aj PC G'T, pf 03
7 Chi U I & Vc 7ri pf P4
. Chile Copper 27 &
. . Ch'ne Copper 23 H
ti Coco-Cela 77
4 Colerado & Se 2d pf 56
fi Celum das & Llec.lOOH
. Celum Uraphophenc 2H
6 Cemput Tab IteO... 71 5j
, . Conley Tinfoil ...
, . CoiifeI ' igar
S Consolidated Gas .
, . Cens G s of N Y wi
. . Cens fi.is rt" . . . .
. . Consel Textiles . .
, . c" entlm ntitl Can . .
4 Cern Products Be.
7 Cern Pred Hef pf
4 Ce"den iS. Ce .
. . fruclti e St.tl
7 Crucible Stc I pf
, . de odd lets . .
. . Cuban Am Sugar
. . Cuba Cunu .sugar
. . Tuba Cum s-ugar pf 40 4
. . I'avlsen Chemical 29 2
. Dcbters C Min Ltd 22 'j
1 Delaware S. Ituclsenl 195B
b Lie Lack A: vv ist ijj
2 Deme Mines
C L'astman Kodak .
4 Lite Storage Bit.
. . LIU Hern Ceal .
. . Kincr.ten-Branting
. Kmcrsen-Urant pf
6 Lndlcott-Jehnson
7 Ki dlcott-Jehneon pf 1 IB 'a
. . Krle 10H
. . Krle 1st pf 15 H
8 Famous Players L. 93 Vt
8 Famous Plajcrs pf. 96 ?i
.-. Fe Min & Smelt pf. 53
in rusher Bedy 1824
8 Fisher Bedy et O pf 99
. FIsU Uubber 1234
. Fiecpert Texas ...19
3 Gen Am Tank 69 'i
. eJeneinl Anphu.lt ... " ' '
r, Gt-neral Asnhalt pf. 80
. 16
. 37 S4
I24M
62 V
. 2x
. 1214
107'i
1323J
120 " 9
4934
. 66 5 j
. 90"
90'4
25
14',
42
84 s8
58
23
8
30'B
89 'i
0 General Cigar
. de odd lets
S Uen L'lectrle . . .
General Meters
Geldwn Pictures.
. Goedrich B F
. Grav .X. Dal3. . . .
Great Northern pf
83!i
82
1814
f14
, 6
33,
. It '4
79
3 Grt North Ore ctfs 31 ft
, Gulf States Steel... 74 4
Hendee Mfg 20!j
6 liomcatake Minim? 00 '3
Housten Oil 62
2 Hudsen Moter Car. 25
1 Hupp Moter Car... 26'i
. Hvdraullc Steel ... 4 V
HjdrauMc sSteel pf. 0
7 Illinois Central .. .107 s
. Inspiration Cen Cep 33 '
. Inter Cen Cerp.... !4
,. Inter Cen Cerp pf
Inter Bapld Trail
Lew
12?i
75
44
31
60
41
35
72 U
112
184Vi
1 8 '
33 Vi
6
I0U
109
2634
11 V
29 X
40 '2
122'4
120
47 4
1104
110
6
21 Vi
D3U
99 Js
140
33V4
76 14
28
1234
54's
95 18
16
DHi
48
66 H
100 H
91 U
14
1225
14
31 34
122'
42 i
'2
328
51
95 34
1 1 1 Vi
62 14
44
30
114
16
60
105
143
43 34
9'4
30
8
81 U
55
74
141 '4
3'j
33'4
70
42-9
62'j
65 Vi
101 U
214
2714
414
2138
341,
801j
32 H
83
94
26 i
23 h
77
56
100H
2H
69 'b
16
37'i
1 23 Vt
61 H
2 "4
12U
10534
130'j
120 '4
4914
64'i
JO 1 4
90 '4
40
14'3
39'4
27 34
222
119s
133
42'j
64 "
57! i
23
74
20 Va
87 ?4
11814
10H
15
92
96 i
53
1821j
98 '2
12's
18 34
b9 2
45'4
60
83'2
82
180
13 'a
5H
35 a
78 a
31 Vi
73'j
19"2
00',
69
24 3i
25 '4
4
40
10712
33 V4
Vi
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Vi
li
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1 15 Net
P. Jt Chite.
1234- Vi
78V4 234
44 - H
31Ti 1V4
60
41 -
33
7354 f
112
104Vi-
1814-1-
35VS-
6V4 1
10 '4
110
29 Vi
1 1 Vi -
30
48 Vi -
1224-
120
47S (
11034
110
6-
21 's 1
54'i
998
140 -30'4-76U-29'i
i
1233 -54
'4
95 )4
16 -1
51 ! -1
40 -66
S -
1003.4
91 i r-
134
1225
14
32 -
122'-
424 -
"i
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Vi
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434 -
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16'e -
61 18-1
105 -144Vi-
43 '4 -9
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31 'i i
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55 3a-
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141 s t-
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66 101i
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riv
Snt.'R In t STOCK illcli
100 .. I.ncltawann.i Steel . 77V4
300 SI.ee Ilubber 26 34
100 34 Lehigh Valley 63
1800 4 lima Locemotlvo .. 50 34
800 .. Loews Ine DH
000 .. Mack Truck 57 Vi
100 7 Mark Tiuck 1st pf. 92
200 .. Jvtncy & Ce 61
700 .. Mnlllnsen Ce 32 Vi
1000 .. Manntl Sugar 40V4
100 7 Manatl Sugar pf, . 02
400 7 Mnnhat Kiev Guir.. 52V4
500 .. Manliat Llev ctfs... 51V4
6300 4 Mnrland Oil 32
500 .. Mnrlln Iteckwell ..14
100 .. Slnth Alkali 49
400 .. Jtnx Meters Class U 10 Ji
500 10 Mny Dept Stoic". .. .174
900 1 Mclntvre Mining ..19
200 12 Mcx Petroleum ...237
4000 2 Mrx Seaboard 16V4
1100 2 Mex Seaboard Oil ct 15'4
2100 1.20 Middle States Cerp. 12'4
1100 .. Mldvnle Steel 20 Vi
800 .. Me Kan & Tex ivvll 1414
.. Missouri Pacific pf.. 42V4
.. Montgomery Ward. 21 Vi
1 Moen Moter Car... 18V4
M Mether Lede Mining 1 1 H
16 Nash Meters 525
.. de odd lets 530
.. National Acmes .... 12
7 Nat Biscuit pf 123
7 Nat Biscuit wl 3914
.. Nnt Cen . Cable... 1 U
6 Nat Kn & Stamp... 65i
5 National Lead 1 29 '4
7 National Lead pr. .IHVi
.. Nat K It of M 2d pf 3Vi
C N O Tex & Mcx... 04
..NY Air Brake 28
l N Y ( entral 95H
6 N Y C & St L 2d pf 83
.. New Yerk N II & II 22 li
7 NoifelU & Westerning
4 Ner Ai West pf 76
H North American ... 94 '4
.1 North Amer pf 45
C North I'ncllc 76
.. Neva Pcettj. S A C. 26
.. Okla Pred & Bet... 2
.. Orpheum Circuit .. 19'4
.. Otis Ste) 9!4
.. Otis Steel pf 45
. . Packni d Moter 20
Pacific Uevel Cerp. 1 '4
Pac Gas & L'lec... 8714
Ji
71 a 2J4
I- 1
DpeembT
.Iftnuary .
MHrrh
Mav
Julv
Ocietxr .
ma
Orn
21 OS
'.. Ill
J.I 30
21 20
21 (i0
2J 11
1 no
Huh
L-. In
.1 .11 I
J 1 Jt
JI 'Jt
19?4
35
24 '4
21 '
P9W
100 2t Internat Cement
201J - inier c-em "n...
100 . Int Great North..
inn r int t.irvester new
400 6 Inter Mer Marine p: 014
600 .. Inter Nickel ..... 14'j
600 C Inter Nickel pf 70
400 .. International Paper 524
300 .. invincible Oil CerplSJA
6100 .. Island Oil
200 .. de cash sales V2
100 .. Jewel Tea 20
100 4 Jents Bres Tea. .. 51 2
400 .. Kan City & Seuth.. 19V4
100 .. Kansas & Gulf 24
2600 .. Kelly-Sprlngtleld . 45 '4
100 0 Kelsey Wheel 98
2400 3 KenneceU Copper . . 36
11200 .. Keystone T & R.... 1 1 Vi
H
19 34
35
24
T21'a
894
51 a
143,
70
52
1514
H
20
51 Ji
19
2V4
44 a
99
35K
lOVJ
16
37V4
123 54-
613s-2H-
12'4-
1 07 J-S -J-
131 3d -1-
120V4-5-
49 Vi -
66 -!-
9014 :-
90Ji
25
1 4 3s
39 3a -29
221'.
1198 -
133
422 -84
4J U
571a-
23
8
3014-1
89 -5-1
IB i2 -
10H
153a f
93
96 'i 'r
53 1
182'J .
93 V2 J
123s-
10 34 -69
'4 4
47Jt
00 -83
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02
181 H-J-13'a-6
35H
1 1 Vz -78
.
31 Vi
74 -1934
80 '8 J
60 -25
25 V2 -4
V,
40 1 07 J4
33 H ,
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H
19
35 I
24'i J
21 '8 4
89 34 'r
51
1 4 '4
70 '2 (-
52 -15U
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19 -2S4-4'j
93
33
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1000
1700
600
3700
100
15
100
382
7200
600
200
8300
730
300
2300
100
800
100
1700
100
100
1500
103
400
300
300
200
3700
200
400
8600
1300
2500
14100
9100
403
1800
2100
3200
200
1900
503
500
500
4600
500
100
6
3 Pacific Oil 47
S Pan Amer Petrel... 99
8 Pan Amer B 9434
3 Pennsylvania P. n. . 4634
. Penn Seaboard Stetl 3J4
5 Peopled Gas Chicago 93 Ji
. Pere Marquette ... 34 3a
7 Phllllps-Jenes pf .. 94VJ
2 Phillips Pet 44
. Plerce-Arrevv Moter 124
. Plerce-Arrevv Met pf. 29 J
. I'lerce Oil 414
I Plggly Wlggly Store 53 a
. Pitts Ceal 60
Pitts & W Va 34
1000 lis Pend Crctk Ceal... 20J4
6200 .. Producers & Hef... 44 Ji
600 8 Pub Scr of N J.... 95 Ji
200 s Pullman Ce 127
1000 . I'unta Allc&re Sugar 40
700 2 I'ure Oil ?8 3;
100 S IUIPv.iv Steel Spg..10034
600 .. Bay Cen Copper... 13
300 4 Heading 77 H
200 .. Hemlngten Tvpcvv .36
1 00 . . Hem Typew 2d nf . . 78
200 . . Hepleg n Steel . . .
900 1. Hepub Iren & Steel
400 . . Republic I A- S pf .
1200 3 Rcvnelds Teb B...
100 .. Hobt Pels A Ce..
2600 4.L1 HeMil Dutch N Y..
24 Ji
47 Vi
83
48W
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53
19V4
1's
134 I
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200 1 St Je'eph Lead...
200 .. St Leuis San Fran. 213'.
100 .. st Leuis S Frnn pf. 39
700 ,. St Leuis Southwest 39
1000 E St L Southwest pf.. 5B?i
100 .. San Cee Sugir 2 V
203 .. Suage Arms 10J4
700 . . Sixen Moter 1 Vi
300 .. Seubeaid Air Line . 6Ji
200 .. Scab Air Line pf... 9V4
2300 .. Sears-Heebuck .... 82V4
100 7 Sears- Het buck pf ..108J4
100 ,. s'eneta Ceper .... 8'4
100 C Shell I'nlen Oil pf. . 9234
9300 2 Sinclair Consel ... 32
700 S Sinclair Cen pf....100
2600 .. Shell; Oil 94
1600 C Southern Pacific .. 87
500 .. Splcer Mfg 1BH
1300 1 Standard oil of Call 16 Ji
900 .1 Standaiil Oil et N J 199
200 7 St.'el Tube pf 77 'i
100 3 Sterling Products .. 62V4
1000 4 Stewart Warner Sp I 5934
400 ii Stiemberg Carb 57 J4
20100 10 Studebaker 133 54
200 ., Sub He it Cerp.. .. 7 V
300 .. Supoiler Oil 4 6,
100 ,. Svvcets r0 of Amer. P74
300 ., Tenn Cep A. Chem.. 9Vi
10100 3 Tcas Ce 49 Ja
1500 D Texas Gulf Sulphur 59'4
1300 .. Texas A. Pacific ... 21
3900 1 Tex & Pnc c tc O.. 23 Ji
800 3 Tlmken Hell Br 32
1100 .. Tobacco Products . 55
800 7 Tobacco Pi oil A.... 01 Ji
300 .. Transcontinental Oil 12V4
1200 .. I'nlen (ill 10
900 10 I'nlen Pin lllc 138 ',4
400 Cnien Pacific pf. 75
400 2 United Allev Steel.. 35
300 8 United 1 ruit 159
J.00 .. United Hvvy Invest. 1 1 J-i
800 .. United H tall Stores 66 34
200 . . U S c I i St Fdy.. 24 34
1 0e . . XT S Feed Products 5
7500 ..US Ind Alcohol.... 66 Ji
100 C U S Realty & Imp.. 85
1300 .. US Realty i Imp rts. 94
1 00 7 U S IVy Im pf vv I 1 01 Ji
1800 .. t' S Rubber 53
500 BUS Rubber 1st pf . . 973s
100 3V0 IJ S Smelt it . M pr Yi
1H
8200
300
1100
300
400
1400
600
100
300
400
1000
1500
1200
re
200
200
700
500
800
200
500
1000
800
400
300
1500
?00
300
500
5 U H Sttel lujya
7 U S Sttel pt lufe
S Utah Copper 63
. . Vanadium Cerp ... 34
.. Van Haalte ..64
, . Va-Car Chemical . 26
,, Va-Car Chi m pf . 62 4
. . Va Iren Ceal & Coke 55
5 Va lien CjC pt... 81
. , Vlvaudeu Ine . . . 13 3a
.. Wabash 9J
.. Wabash pf A. ... 24 Vi
1 Weber & Ilollbrener 12V4
7 Western Ulee pf . 12
,. WeHtern Mankind. 12
,. Western Paclllc . . 16
4 WestlllBbo'lse A B 103J4
4 Westing n & M.. . 59 Ji
2 Whlte i:agle Oil ... 32J4
4 White Moter 49
.. Whlte Oil Cerp. . 4J6
. Wlckw Ird Spone Stl 1 1 Vi
.. Wlll;a Overland ... 6
.. Wlll;s Overland pf. 40
' 8 Woelwoi th V W... 21 3 34
. Woith Pump & M.. 32e
"7 Werth Pujnp A.... 05
0 Werth Pump IJ.... 67
1 Wright Atre 9
Lew
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2634
63
58
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56 'i
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61
32
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82
52 Vi
51
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19
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15
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12
28
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76
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LOCALS STEADY IN
VERY DULL MARKET
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Dealings Reduced te a Mini
mum as Result of the
Waiting Attitude
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Dralingq tn the local Btecku continued
of the same smnll calibct nnd devoid of
either significance or interest. The
major portion moved within n nnrrevv
frnctiennl range or else were station
ary. This ijidlrnted n growing nvvellinR
of the ranks of these fmtlnficcl te remain
slnndlng en the iddcllnes nnd being n
onectnter riithcr than participating in
the mystic nuie of the tiny te tiny
lluettintlens.
The waiting attitude was net difficult
of exnbiiintlen. lt was net necessary
te leek further than the renfupjng
rimming of the forger maiket in New
Yerk. While the local trading con
tingent some times me leluctant in
following the leadership of the Big
Heard, they, nevertheless, ure prompt
te nssume the cnutietis or safety atti
tude when tilings get all mixed up as
tliev nre today in the Wall street
rcnltn.
Despite the restraining surrounding
elements nnel circumstance there were
te he found in the limited dealings sev
eral notable instances of firmness.
Prominent In this connection could be
mentioned II. (J. I., which after dip
ping te fiU' pieinptl.v rebounded te 51,
disclosing n signilieiint scant supplv of
stuck. Pcnns.vlvania Railroad notwith
standing the hnndiciip of the heaviness
of the ether rails also niled relatively
steady, likewise Indicating little free
stock mound tin) curient quotntlen
American Stores, nltheugh dealt in
very spiuincly, wns another stock found
te be scarce nnd en n few transac
tions jumped 2 points from lust Until
sale te lt'71!". Philadelphia 1'lertric
Issues nlse tilled steady. P. K. T.
nt the same time appeared te have
found n solid bottom at H0'i, the low
mark of the recent backset.
Tonenah Mining responding te the
, nmimmpiminnt nf I fin iri nor cent divl-
2 I denrl nilviineeil In "li . erk KllllwilVS
W tifd. en odd lets moved HP a point
te 33. Lehigh Navigation held firm nt
74. With liquidating pressure lenieved
Lake Superior moved up a li te fiVs.
Alliance Insurance wns U points above
the previous sale at "7.
Philadelphia Stocks
1:ir. Net
HIbIi Lew T. M. chce
-'7 M, 7 -r-'J
78 Vi 78V4 7SV4 . .
i. Vi
Yielding Over. 6
Exempt from Federal Income Taxes and Flerida State Taxes
$500,000
St. Lucie County, Flerida
North St. Lucie River Drainage District
SERIAL 6 BONDS
Lcfitilf fa be ippreTtd bjr Mcmi. Charles & Rutherford St. Leets, Me.
Dated Mny 1, 1022. Coupon Rends. Denomination $1000. Principal and
scml-nnnual Interest, Mny 1 nnd November 1. payable nt the Conti
nental & Commercial Trust & Savings Hank, Chicago, 111.
MATUniTinS:
$10,000... Nev. 1, 1027 $15,000... Nev. 1, 1014 $2.1,000. . .Nev. 1, 1541
11.000... " 1, 1028 1B.O0O... " 1. 103S S5'nn2"- '.! JI!42
11,000... " 1, 1D23 16,000... " 1, 1930 nAn ' J2J?
12,000... " 1,1010 18,000... " 1. 1937 vnoe ' 1 l 4
13,000... " 1,19.11 19.000... " 1, 193S Bcioeo:;; 1' l
13,000... " 1,1932 20.000... " 1,19.19 BO 000. . .Mny l imb
14,000... " 1. 1933 22,000... " 1. 1940 CO.000... " 1, 1917
Principal nnd Interest are payable, from a direct, penernt, continuing tax
irrevocably levied upon all the real property In the District against which
benefits aggregating JC.334.1 C 1 have been confirmed.
FINANCIAL STATEMENT OF DISTRICT
District Has Never Defaulted In Payment of Principal or Interest
Estimated Valuation Real Estate. . . . $9,500,000
Total Amount of Taxes Levied 3,964,888
Assessed Benefits 6,334,164
Total Debt, including this issue 1,700,000
Acres in District i . . 75,248
Population (estimate) 2,000
S5T. LUCIE COUNTY Is en the east coast of Flerida. 242 mllcn south of
Jacksonville and BO miles north of Talm Beach nrea 690,000 ncres. Pepu.
latien (present estimated), 12.000; population 1920 census. 7886 (an Increase
of 93 ever the 1910 census).
NORTH ST. LUCin IUVEU DRAINAGE. DISTRICT lies In the famous
Indian River Ornnge Belt, te the west nnd south of Fert I'lerce, the County
Seat The District Is nine miles whle and averages In excess of thirteen
miles In length. The well-known Dixie Hlghwnv and Flerida Fast Coast
Railroad nre narallel te and about one-half mlle from the eastern boundary
of the District, and convenient shipping Is avallable at Ave different points
Including Fert I'lerce.
PRINCIPAL PRODUCTS AND ARTICLES OF COMMERCE are citrus
fruits, corn, sugar cane, potatoes, tomatoes, beans, cabbage, pepjer3, egg
plnnt, fruits, cattle and heg3,
PRICE: 99 AND INTEREST
Fer Any Amount and Any Maturity
Special Concessions te Dealers, Brokers and Bankers
J. L. ARLITT
Dealer in Southern Municipals
60 Wall Street, New Yerk Tel. Hanover 3958-3959
Main Office: Austin, Texas
Member Texas Bankers' Association. Est. 1914
'
lit
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7
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2
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IfiO Alii IiiRtir
21) Am Can
10 Am Itvvvs. 1ij 111 12
77 Am Strs. .157M- 15"V 157V-M
lUOBuff & S
t c pf... 54 CI r.4 ..
.14 Kle-c Ster. C84 07 r7-?i V,
10 (Jen Audi. 4(5 40 40
1.14 In Ce N A 42 42 42 . .
50 Kenn Cep. 35 ."j .'15 V,
SOOfKey T&B 10 1071 10 lit
utiu j.ni.e sup. iiVt ftva ''.i! ri
28Leh Nnv.. 71 7:1 74 ..
500tPnirish &
IJinghnm. f) 0 0..
1027 Pen na Hit 40 40 Vi 403 Vt
20 Phila Ce
rum pf.. 42 42 42 ..
1 0 Phila Klec .'UVs 31J,ft 3l,&..
71 de pref . . 81
200 Phila K T 30
15 Phila fi. W
pi of.... 3.Tj
lOOtSimth Pac 80 Vi
I2OOT0110 Min. 2'i
470 ITuienTrac 40
155 U I.... 51
5 Yeik It pf 35
30?i
30
33 Vi
8(t'A
2Vs
40
50
35
31
30..
33V'j Vi
SOVi v.
2'i A
40 ..
51 ..
35 1
tNet rhittiKe mnde by comrnrleon with last
sale en New Yerk Stock KxUiunge.
rilllADKU'lUA 110M),S
2000 Liberty 3d 4V,s '2S 00.02
1000 Liberty 4th 4Vs '28 08.00
200 Amer (Lis & Klcrtiic.'s. 85
1000 Amer Uns & Electiic 5s. 8-lVi
2000 Ilaltimnre & Ohie (is 2l). 101
tllKIO Uetlilehem Hteel P JI Oh. 112
Kine KIm trio & People's 4m.. 00'.
201)00 Pans& Lyens Med fls 58. 72
7000 Phila Klectrlc 1st 5s..let3 00 Vj
5000 Phila i:iettrlc 5J8 101 .
1000 Phila Llectric 5U.H 101
200 Phila Electric 0 105'A
2000 Phila Electric fls 105 iT
4000 Phila Electric 0s 105
100 Wel-bach Ce 5s 1)9
3000Welsbach Ce 5s 00
1
V.
1
News for Investors
FOREIGN EXCHANGE
New Yerli, Dec. 11. The enrly quo
' ....!.... nn foreign excuanKe nt. in
' ti KininH tnilnv were verv
"k1 etchv" except for sterling, which
KI.PICIIJ cau l fl . vlrtmill
the
DIVIDENDS DECLARED
NEW YORK COFFEE MARKET
New Verlt, I)"'. 11. The marl.et
for coffee' futures opened nt nn ad
vance of 2 te 5 points with demand
from trnde sources. There ivprp ililiv.
ered en contract teduv 1250 bags.
... ja i - . -. . . .,. .t-i,.!'- ettpi l mi eiettiini iiivii ! j a t'i nci'jiv us iwiu -... -- ,
hhertl.v Uetere tlie local opening, a , ",''," "J u.,",iV. final or virtually . Helltrwer fonielldatt-d OeW Mlns reurin
me nl cable from He renerted thn fprrnl neiu ai """', ' , . : i !.', wet-Kiy n vldcnl of l rr cent, pay-"" "
tnnrket there uiiLlinncpil tn "r.
Tannpsh Mlnlntr Company of Nevada. 15
rr rent, myabln Janimry 6 te stecK of rcc-
.lord Dt-einW lit
.Mariana ijii rempnny. i. p" -
uary 1 in mi.k of ierd uwmMr u.
. . -.. . v.. ". " ' i. . . n. ,nTiiriin n iii.M). ... ...mi...j .....
tpec ul cable trem iue reperte.i the tennl "." "Vm 'hieh record. Iancs i ""K ?.rV. .".'?" "S'iSKiiSr is
UL W1U rAm-f" z" rn -. t '"V.'" " V -"( .--.- --- ..
IV
tt
fe
r?V
Bend Salesman
A well known bend house
handling only high-grade issues
desires te employ an additional
salesman en very attractive
terms. In consequence of the
firm's rapidly growing bus!
' net, this opening offer an
exceptional opportunity. It
should appeal te you if your
present situation holds out
limited premise for your future.
The attention et our own sales
smb has been called te this
.advertisement. Replies will be
MMUind strictly confidential
aftsT skewld b addressed te
e.
. i ti"; --...-- -,---.- ... . r,i v;.. .. -"" ".. '.,,..i.,i. i
-. " .... i .. i.,i n iinwn .T.. : iiiiif 11, iih iiii.Hd imri nn , nmDHiiy. uu... -i
lower. Hie exchange en Londen wns V('r' 51 n ,i. 1 u, HvvIrs tan it Mtnnl m- cuEiiiinar January twnus
!l-32d lower nnd ll decline of 30 ,, ilnvvn 3; Ire down 1 a . Hvmm Jlwn of l tr.ni i,.uMh January a te holders
M i .... ii... ilnllip (i Sliaillsll linn .in msiiiii .......I, , j rcnra i)m.pmier is, .
. "II the Hellar. u, ?ii.i, Vlnwn 3: guilders down H, Ottawa iUt M.nufucturln Company, auar-
I I'r'v le" en Swedish clown . ' "7 '.",....' I tfrly 1 tier .- nt and tha uaual January tra
necember KT3.-,1)7ft anil IIllirkB flown -t, 110 '''" of a jwr cent paSnW January a te Iieiaera
Murcll fl 48W4-. IHWlll ...n..,.l u-nitlng fllSDOBllletl by the of rcerrt Dcmmlur IB.
I'sn.il.nn ,nmA.l.. nnmnnnV. aUarl6riy
Extend Time en Exchange of Stock
Niw Verlt, Dec 11 When aaltexl today
whetrwr llethlfhem Hteel Corporation would
extend the tliu within which the 7 icr
cent nen-cuniuUtlte nreferrecl stock of tha
corporation mtKht b sxchanjred for tha 7
per cent lumulatlva preferred ateck. K, (1.
r.up. Him T.reli1nt nt th. M,n.,.llnn
mated that the beard of directors ii en I red
that every holder of tha non-cumulative, stock
alieuld have full opportunity te males tlm
i hanve and that he theusht. without
July fi hJM-l
bepiemeer ,. 0.0. 'U jij
Hid.
1 fcVnKtt
Reserve Banks' Discount Rates
Official rediscount rates at tha twelvs
rederal UeBene Hanl'.a urn as follewa
Trean. Mb fem I Jlkrs
cira. jienils Rates Acient.
Hoaten . . . .
New Yerk .
l'Mlaelelphls,
t'levelnnd
Jtlchmend . ,
Atlanta . .
t'liicage .
St I,euui
Mlnntapeiia .
Kan.tH City .
DjIIuh .
ban J"Vanclge
....' 4
4 4 4
.... 4'4 AH 4 14
4V, Z ill
4V4 K 4W
. . ., 4 4 4i 414
. ..4'-, 4V? 4'4
4U 4Vj 4.,
4-3 4V 4'-i
4'5 4V? 4i
4Vi 4' 4
4 A
,f
1
4'
414
ti
BAR 8ILVCR
Bar etlTiir
today t ii
iWeiV
lewsr Ie Londen
it
urofeibflienal interests pending mere
definite developments regarding the for
eign ttelltlcnl nnu iiuuiicnu munitien.
Uuotatiens were : sterling cableH,
4 57'i demand 4 50 : franc c-nhleH
7.0 1, cliecka 7.03'i i HcIbIiui caldes
0.18 checks 0.47V4; lire cables ...01,
checks n.OOVj; Swiss cables 18.80,
checks 18.77: Peseta cables 15.53,
S, 15.51; Danish cable, 20.05,
checks 20.00; Norway cables 10.12,
checks 10.07; Swedish cables 20.05,
checks, 2H.UU! gunner euiues eu.h,
checks 30.72; mnrks .012.
SATUIIDAY'H CWSINd OUOTATIONH
HterltnB Tranrs I.Ira Oulldeis
Demand 3i,!j 7"("1 fi ul a" "
TODAT'B OPENING QUOTATIONS
1UU Hterlliur Francs LlrB Uulldara
.7 4-6S T.ORVt e."0V. 18.83
,. i.im 7.04 cel ija.
I
twnuD.,,1
Cablss.,
nn ( nA.i, . rf.mn.nv.
pur tent nn common and of lt. r-er cent
en preferred blh payable Deesmner 01 iu
buldcra of r"T,rt. December "0, ...,,
Sullivan Machinery Company. l"arierA?
71 eenia pjnble January 10 te utecK ei
reir.nl Da emner 31, -
Franklin Heciirltlea Corporation. 8 PJI
cent, payible December 30 te stock of record
, Jollet and Chicago Railroad. QUrtr'Y J
H pr eert, pavabl. January 1 te heck
of reierd December in ,, .
Newport News nnd Hampton Hallway Ons
an) Eietrle Cemrany. 1H par rent en tne
7 tr cent rumulativa preferrad. P-yDl
January l tn stock of record psceroeer 10.
Pullman Company, quarterly, of I- vny.
ablv I'ebruary 13 te holders of record Jan
uary 3t,
BANK CLEARINGS
Bank clearings today compared with cor cer cor
respending day last two years) ' ....
Phila. ..W,00t),g00 l55.t)OP.O00 170,000,023
doubt, the beard, at a meetin which would
bj held prier te December IB, would ex
tend the) time fur at leajt two months.
MONEY-LENDING RATES
M-.W mtli Menev en call, both rln....
of collateral, opened today at 4'-4 par cent
jur ii-iiuina unu iciiwwiiib,
lIIII.AIKM'IIIA Call. B per renti Uma.
fi jsr cent, commercial paper, three te alx
months, S per cent.
Stock Dividends
Dosten. Dec. 11. Directors of tha mi
lium mill, of New Dedford. hava called a
ireetlnit of .atockheldera for December Id
te autherise an Increase In stock from
M 6(10 000 ie J'.', 230,000, tha Intresae te
bn distributed as a 60 per cent stock
divldi-nd.
Truscen Steel Increases Dividend
Vi cinimtenii, O,, Dec. II, The Truscen
Hteel Company hua de. lurid n euarterly dlv.
IHnnit nf CI ner cent an tbA ccinmen utnek.
payuble January IB te .stock of record Jan
uary B. Heretofore, the company hat bam
ll-rilla i fur WH liuailg.
The Canadiun Cur nnd Peundry
('einpany report fur the year ended
September .10 ehews prelits of .$201),2(J(,
nKiiinst $1,188,803 the previous ear.
- I'i eductien of peld fieni the Hand
Mines in November tetnled 704.000
ounces, against 778,000 in October,
747,000 in September and 702,000 in
Atlgllbt.
The average prlee of twenty nctlve
iiidiibtrials decreased 0.16 per cent en
Saturday te 07.72, while the tweutj
ruiliends advanced 0.104 per cent te
81.00.
V. R. Kuhnhardt, president of the
Curpentcr Steel Company, bajs no
merger of the company with any ether
steel company is pending or contem
plated. An issue of 83,800,000 of 7 per cent
preferred stock of Central Indiana
Power Company will be offered this
week by Stene &. Webster, Spencer.
Trunk & Ce. nnd Tucker, Antheny V
Ce.
The Cincinnati, Indinnnpells and
Western also Bought authority today
te guarantee $200,000 In preferied
stock Issued by a corporation having
u similar name, but exclusively
ercnnUeel for the purpose of furnlbh
iiiu equipment te the rullrend.
It Is unneunccd that the tlf teen-year
7Vj per cent slnicing ruim convertlhle
geld bends series A, of Virginia-Carolina
Chemical Company, will ! reach
te be exchanged for temporary Ponds
new outstanding en and nfter Decem
ber 10, nt Kqultable Trust Company
of New Yerk.
The National City Company an
nounces nn issue of 10,000,000 first
moitgnge sinking fund 7 per cent geld
bends of the Vertientes Supr Com
pany (Cempnnla Azucarera ,ertcntes),
whose properties ure located in (Jubn.
The bends, dated December 1, 1022,
will be due December 1, 1012.
H. M. Ilyllesby & Ce., Inc., nre
offering $501,000 Shaffer Oil and Ho He
lining Company convertible 8 per cent
sciltil geld netei, due May 1, 1021, at
10 nnd Interest, te yield 0,00 nor cent.
The corporation N under the financial
direction of the .Standaiil (Jas and Klec-
trie Company, l'rovisien is made for n
monthly sinking fund of 1 per cent of
the notes outstanding for their redemp
tion, by let, at 100 nnd interest.
Permission te ihsue $.0,0 14,700 in
OVj nor cent prier Hen bends nnd
SI ,047,000 In 0 per cent adjustment
bends was seugbt today from the Inter
state Commerce Commission by the St.
Leuis-San Francisce Railroad. The
securities, the application said, will
reimburse the railroad's treasury for
money alrcndy spent en additions nnd
betterments nnel in the purehase of
bends of Its subsidiary corporations,
"I HKAIf IT KVrcilY MIlKMSfin
A subscriber In llethlehnm lel I u. ,..
the ether day. that he iievjr lnH n dav pass
without readlnn '"III" Waahlnsien Observer '"
"It irtvea ma a blrd's-eje vlaw of niiilenal
happenlnss.'" Te be well Informed Ien
Deilflcar undercurrents, form this sam.
Pay as Yeu Ge, by
Check. Why ?
1 Eliminates unwise spending.
2 Saves time and many steps in
settling bills.
3 Adds daily interest te your avail
able cash.
4 Gives prestige te your transactions.
5 Instills respect through your asso
ciation with a reputable bank.
6 Better adjusts the responsibility in
either a business or personal
partnership.
Accounts, with
checking service,
may be opened
quickly with a min
imum of trouble at
The Continental -Equitable.
IE
ceaTiNCNTsi cquiusir
mil a ieuji co
Who Serves
Best-
Profits
Most
Profits H I
Vv Most J'm
CONTINENTAL
EQUITABLE TITLE w TRUST COMPANY
Capital
$1,000,000
7meJfth above Chestnut
P Ml LA O E IPHIA
Deposits Over
$12,000,000
Surplus
$1,000,000
MARKET STREET
TITLE & TRUST CO.
Southwest Cerner 52nd & Market Streets
THE PIONEER BANK OF THIS SECTION
AND HAS BEEN PAYING
4 INTEREST
ON SAVINGS ACCOUNTS
FOR THE PAST TWO YEARS
THE REAL CONVENIENCE
OP A SAVINGS ACCOUNT WITH US IS OUR
LIBERAL RULES GOVERNING WITHDRAWALS
Total Deposits
Over $9,000,000
Total Number Depositors
Over 24,500
OPEN DAY and NIGHT UNTIL 11 P.M.
Alan A. Alexander & Ce.
Stocks and Bends
Colonial Trust liltlg., Phila.
Sena for Copy of Our U'rvktv ml.
r, ."Upa and Downs" "
UlUr
EXPERIENCED
ENGINEER
II VIJAHH I'ltACTIOAI, AND liXCCCTIVl.
TUAI.NI.S'ilj OOI, be Ofl enADUATB
ei'i:.N ten rosme.N jan. i. inijub-
TIHAfc OK HKCIIKKIiniKQ CO, ADPHK83
r w.. aiieu(Bv8T..1ei.
II il