VTJP
rv(en-wjt
yw?mffi
yiwmjm..
SKSfflBrayi;
f
w
H&
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:..,
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hi
s
E OPENING IN
PAN-AMERICAN PET
i
Window Dressing LaYgely Re Re
Spensible for Week's Churned
Price Movement
Keir lerk, Dec. JO. The exciting
ind wide fluctuations In Tan-Amcrlcan
Fitreleum were the outstanding feature
i today's Irregular cleilng market. The
jselanMen or iue -u per m w
iiMdend by the directors of -that com
Ti.i, Incrense n the Mexican
Peleum cash dividend Je J 10 per
?fermance. The incident caught ap
Kriatlr the short Interest napping,
Sd inert was a wild rush te cover nt
u i outset. The velume of business in
I?ilt. In consequence, was se cnor cner cnor
5eus that the opening range was net
finitely established until nearly one.
JffffcXr nfter business began. It
.is then reported as 20,000 shares at
Em 80 te MM. compared with 7BU.
he previous close. Part of thin gain
u surrendered when the short re
ralrenients were filled, but most of the
dunce was later, restored.
MI! il ennrnl list the trading was
Jd, but was without any particular
Snlflcance, because the bulk of the
hilness practically represented he
ftmlllar week-end evening up of the
,rofesienal traders
Foreign Issues exhibited a firm lone
In the bend dealings in reflection of tlie
llrher exchange rates and the revival
e! agitation for a German lean, but the
rut of the list was decidedly irregular.
There were times during the last
week when It would have required the
accomplishments of n wizard te select
i really acceptable explanation for the
Uglily churned condition of the market.
There never perhaps was a time when
men a complete collection of asserted
urruments was en hand. That is te
uy, there was within reach all kerls of
rents, developments both fancied and
rfl, te explain whatever the market
did or ought te have done. This con
fusion of influences would be difficult te
understand had it net been for close
proximity of the year end. When the
customary evening up process nt this
Important period Is taken into consid
eration, much of the supposed mystery
dissolves into vapor.
The week's events, in ether words,
ein be Kifely placed in that peculiar
category of market movement, popularly
known en the street as "window dress
ing." Net the prelude, however, of n
formidable major swing, but rather the
gathering up of numerous loose eivl
Mich as are usually found in the after
math of n comprehensive adjustment of
the speculative position. This is always
productive of cress currents, Mich as
the present market is se heavily charged,
annoceunts for the simultaneous ex
hibitions of strength and heaviness by
different stocks embraced in the same
group'.
Under the ciruumetances U would
Mem nltegether fruitless of attempting
te interpret the real character of the
market from the day te day conflicting
ard eenfuslns price movement. Mere
accurate nienMirements would be ob
tainable in a closer study of uirtain un
derlying signs and in the analyzing of
KPcmingly fast crystallizing events in
the economic situation. In cither di
rection recent developments warrant
rleus consideration, ns they premise
oener or Inter te become net only po
tent but also active factors in tbe gen
eral market situation.
One of the eustnnding events of the
week was the continued remarkable re
covery in sterling exchange. There was
an effort te weave a mystery and ro
mance around this performance and te
establish some connection between the
incident and the behavior of the market.
Kxcepi sentimentally, the relationship
nas very distant. In a broader sense,
however, or from a long-distance view,
the advance in sterling from a market
standpoint was highlv significant. In
that it may Feener or later open an ave
nue of relief, and nvert a recurrence of
disease which attacked the security
erld net many years age, known as
"undigested securities."
Ne one has been nble te offer, as yet,
a reasonable excuse, or explanation," for
the remarkable rebound in Hritish ex
change. Of course, it is recognized
the sooner Oreat Britain becomes en
tirely normal financially the stronger
iur position becomes. Even this is open
te some debate. In fact, the foreign
situation is open te endless perplexities,
and ns a well-known financial interest
remarked some time nge, the mero you
tudy it the mere unpromising is the
outlook. It is generally recognized mat
Mrs abroad aie fast approaching a most
critical stage, one in which drastic '
wen win De round compulsory. This
very action, however, may produce a
emplete revolution of conditions and
slier the complete aspect. Seme are in
clined te believe the npparent confident
attitude of the powcrs-te-be in the
nnanclal realm is prompted from this
direction, and consequently argue the
real next market signal will come from
abroad.
.ipSJBSTjBH PUBLlOrBBlV-PHIIJiELPHIA: BATUBDAY, DECEMBER
t AiimPAATnAilAi
PIXSSIK
16; JL922
21
NEW YORK STOCK MARKET
vrv Afternoon Ropert in PMaMphla Quoting Fatt Lht
Today' sales 520,800 sham
Yesterday' sales 960,400 shares
Totals for (his week. . .4,786,600 shares
, Dl''
00 i ?RTn" (B 66 K
400 3 ,vMse llumely pf 45
600 " AJax nubber 12J4
300 1 a "h,m D 79
.TY 4 All I.Chllmara ilU
;ue .. i; ";:."" ..',
-- Agne vnim,,, Jim
.Am Afrie Chem pf. 59
Am Besch MsTnete. 40 ft
6 Am Can 73U
12 Am Car Fdv....13
Am cotton Oil.... 19J&
Am Hide tt Ieath pf 63
Am Internal Cerp.. 294
Am Mnaeea 31 t
Am tocemqtlve ...124
3 Am M.tal 4971
Am Ship t- com... 1916
14 Am Safety Razor..
Am Smelt 7W
1 Am Smelt pf 68',
Am Steel Foundries 37 Vi
Am Sugar tut 73 ii
Am Sumatra 29 ',i
5 Am Tel & Cable... 59 V
Am Tel Tal 125W,
13 Am Tobacco IBB'i
12 Am Tobacco B 1B3Hi
. . Am Waterworks ... 20 Vt
.. Am Watrwks 6 pt 50Ji
7 Am Woolen 95
.. Am Writ Paper pf. 26 J
.. Am Hlne Ld b Smelt 13 H
.. Anaconda Copper .. 50 Ji
Asbe D Goods 1st pf 83
Atch Tep tt San Fe.101
6 Atch Tep &.H I'pl 92 V
.. Atlantle Fruit .... 1T4
.. Atl Gulf A W I S S 23!i
.. Austin Nichols .... 31
7 Baldwin Locemotlvel27
.. Baltlmrra $e Ohie.. 2
.. Barnsdall Class B.. 21
Beth Steel B 63 Vi
8 Beth Steel 8 pf..108
Brooklyn Edisen ..116
.. Bklyn Rapid Transit 14?'a
.. Bklyn II T ctfs.... 12JJ
7 Brown Shoe pf 98 J
10 Burns Bres A 144J4
2 Bums Bres B 44H
.. Butte- Cep te KIna.. 9j
tt ButtoASupCep. ... 33
.. California Petrel .. iC',4
.. Cat Zlne and Lead. 9i
10 Canadian Paclfie ..143
.. Carsen Hill Mining-. 6'i
.. Central Leather ... 33 H
.. Cerre-de-Pasco .... 431
Chandler Meters .. 64 i
i' Chesapeake ft Ohie. 71 H
100
1700
900
200
100
100
500
200
1000
500
tee
tee
2000
tee
400
100
400
B loe
500
200
300
200
100
400
100
3000.
4490
100
200
200
300
200
SOO
C400
1003
400
2700
100
300
1200
300
100
500
400
1400
3000
tee
110
200
100
530
2400
120-0
4200
200 eft Chesapeake & Oh pfl02',;
.. umcage & ur west 9i
. . Chi & Gr West pf . . 9i
.. Chi Mil ft St 2P.H
. . Chi M ft St P pf . . . 35
C Chi ft Northwestern. 77!i
7 Chi ft Northwest pflMJ-i
4 Chi Pneu Teel.' 82
.. Chi R I ft Fact 32 H
Chi n I ft PC 6r Pf 83 ?i
. . Chile Copper 28 H
.. Chlne Copper 7CyA
6 Coco-Cela 77
6 Celum Oas ft Klec..106i
.. Celum Graphophene 2'j
. . Cel Graphophene pf 9
4 Cem Solvent A..'.. 43 Ji
6 Cemput Tab Ree.., '1?.
.. Conley Tinfoil .... 16U
. . Consel Via Inc ?
.. Consel Cigar TV7i
Consolidated Gas ..122
.. Cens Gas of SVwl, 61
.. Cens Gag rts 2
.. Consel Textiles ... 12S4
.. Continental Can . ..112U
. . Continental Meters C 11!J
4 Cern Products RS-..131U
4 Cosden ft Ce 52
7 Cosden ft Ce pf 100U
.. Cruclble 8teel .... 72 !4
.. Cuban Am Sugar... 2C,;
.. Cuba Cane Sugar.. 14H
.. Cuba Cane Sugar pf 39,i
.. Tebcera C Mln Ltd 23 H
3 Deere Ce pf 72
6 Del Lac'.t ft West... 132
0 Delaware ft Hudsen! 18
2 Deme Mines 43
.. Tuluth Se S ft A... 3
8 Du Pent (B. I.) Cel 53
C Uu Pent 6 d-ib pf 03 i
Eastman Kodak ... t?4',,
4 Klec Storage Bat... 53 H
.. Hilt Hern Ceal 22
6 Kndlcott-Jehnson .. B6?X
.. Eile 0W
.. Krle 1st pf 13
.. Krie 2d pf 1H4
8 Famous Players 1j. 20 !i
.. Fed Mln ft Smelt.. 10U
C Fed Min ft Smelt pf 53
10 Fisher Bedy 21 1 Ji
5 Fisher Bedy of O pf 99
.. Flak Rubber 12
.. Freeport Texas .... 18
3 Gen Am Tank 68
8 Gen Klectrle ItOjj
i General Meters ,3?i
6 Gen Meters deb 6"T 83 '4
GRAIN MARKET
Cei n-
May . ; '
Jul ....
Whiat
Pe ....
iUr
Juiy ....
.. Oats
Rn
Ma) ,.,.
July . ....
, Urd
&"
Hay .. .
I'riv. close Orn
. Tail
..t.21i
....1M
. 4.1,
. 4CJ
.le.'j.-i
.10.90
TflTi
7811
l.'-'Stt
1.11 J
1 IS'i I
73"..
TS
u A.M.
-7.1
7.1 U
72 U
ft.ai" j.'lilt
1.18 J. 13
43
4Hfl U
42 W
10.SU
le.atetBz
4&
-,ui
IIS
10 BJ
30 ea
COTTON MARKET
rw '''"' -. J?1""1 HI'1 Lw !"
Jin .'.' .1;'tS r.2-i ???? 15.47,
March
.'. S3 2S.2S LW4S M .
nn Am ., .v .. . r;'T..
fy .. . 23.W 25.SI 5,S7 :SiBi
w--Jae SS-M -5'03 M-"6
t.Vemlna'l. '
NEW YORK COFFEE MARKET
Open
I.e A
Teat.
5,; . t.oereVoe io.eo lo.eo iWcieTn
AS tens fi.as
J!r'.' 6.72 if 73
Ulv 9.O4&04
AVtt
tot. Sf.7r.s
Be '8,30
(ie;a)
Ottered
S.7B
'40
S JS
1Nemln?l.
ts.sa ii un
0.70 9. 76 TO 0.72
... JP.B7 O.flS
B.SO IV.4D H.S8
.... tO.U'S W,yi
. .. 0.07(309 O.OS
. . tS SS H.S.I
8 r.s ..isfflr.i) H.fi7
. H.2303S S,23
ri'rsd.
Gutcheon, Nash & Ce. .Fail
.'"' Vrk. D.. in.
, . . - . " .
rVl T,ijfttt,n?!,.;" b"" nl.d'Tn "K Wil
ireu.r. ;;;"V" :'.".. n jce.. mecc
u" HMiiPlTKn ut "unrexlmji.lv 112.000
wnu ' rT"n ".Smith. tJOO: Klr.inn i;.ra,.n
finA .. j .....'.; "..'.' Mt
i r.rueai ji, y.m.
for thrt pellilnn.
JUCK3UII, u)i
wuhT"," ".Sml " $Toe I
l"ir .'r.-ii.17 ."'" "Uerney fc
BreaSwiy."" '" I'"CVI .
. 1HK riTNItOHl'. IlU" KViii ivi.
Zteifui'. flre'J.- Sir Otere Teuna.r.
.r,nVv,huEn4"""'-'
" I'1IK'a. "Makt It n Hhl."Aiv.
Wsatlngheuse Brake Raises Rats
,.A'r SuSa, rLI'. ,. Tha IVestlnsheurn
J''ltvltnd nF-0aVWy '." J'"':''! w .'CiT-tcrlv
ft fotSeea VrA".-V"'HMS.,yK
S-, witriy dividend, lime been tl meh.
100
500
903
100
500
100
200
603
200
9103
1900
1200
3700
(830
10U
200
233
700
1100
400
603
3000
1O200
1500
eoe
2100
1403
21033
100
3100
3500
400
200
100
100
200
700
200
100
200
100
400
1600
500
300
703
403
200
200
300
800
E2703
100
100
700
100
100
2500
200
400
100
400
2100
100
200
1000
500
4100
500
300
4500
100
600
700
6'0
200
600
3100
800
300
200
200
100
100
1503
1500
100
200
1200
3700
200
3500
300
300
600
200
900
500
4300
2500
300
noedrieh D F 34 yi
T Goedrich K F Pf... 83
.. Celdwyn rlctures... SU
.. General Asphalt ... K
,. Glmbel Bres 0
.. Olldden Ce 1!a
.. Granby Mining .... Jj
.. Gray ft Darts 'JJi
7 Great Northern pf. . 80
3 Grt North Ore ctfs 31 i
.. Guantanamo Sugar. 10Ji
.. Gulf States Steel...
.. Hablrahaw Elec ... Vz
.. Houaten Oil H
2 Hudsen Moter Car. ?34
1 Hupp Moter Car... Z5
.. Hydraulle Steel ... 4
.. Hydraulle Steel pf. 39
.. Inspiration Cen Cep 26 fc
. . inter Rapid Tran-. . 1 9
.. Inter Cen Cerp.... !i
.. Int Great North... ?4ia
. . Inter AgTle pf 30
6 Int Ilarrester new 92
. Inter Mer Marine. 11 U
6 Inter Mer Marine pr 51 ;
.. Inter Nlclcsl 14
6 Inter Nickel pf.... 65 !i
.. International Taper 52 Y
.. Iren Products .... 3ii
. Jewel Tea 21 V
.? Jewel Tea pf 73 fc
4 Jones Bre Tea.... 54
7 .Tenes ft It cum pf 1109
.. Kan City ft Heutn.. .!
6 Kelgey 'Wbeel
.. Kelly-Sprlngfleld .
... Kansas ft Gulf. ...
,. Kayaer ft Ce new.
8 Kenneoett Copper. .
.. Keystone T ft R...
.. Iike Erie ft West.
.108
44
i 44 fc
. 37K
. 10".
. 35
IOW
66 Vk
43
12J4
79
44 fc
31 fc
59 fc
37 fc
73
164
IBfc
C3
29
314
122fc
49 fc
19fc
7
57
93!.
37 fc
75'
28 fc
59 fc
124fc
153
152fc
28 fc
50 fc
94 fc
26 i
16fc
49 f.
83
101
92
IK
23 fc
31
123 K
41 H
194
63
I08fc
113 fc
14
I2fc
98 fc
144
43 i
9fc
31 fc
56 fc
9!4
143
Cfc
3fc
43 H
fc3H
70
102fc
H
9i
22
4
77 Ji
114fc
en.
32 fc
82 fc
27
5s
73 fc
1C4fc
2S
9
45
72 fc
16
26
121 Ji
60 fc
2B
12fc
111
11
130fc
51 fc
1 00 fc
70?i
' 23
14i;
39fc
i3U
72
132
117fc
43
3
154-ii
86 Si
e4j.
53
21 U
86
103,
14U
1 1 fc
90 fc
10
11
204?;
S9
12
18
6B
UOfc
13?.
82 fc
34
63 ii
51.
46
40
10J.
55fc
13',;
79
;ej.
10$.
"7
1'i
68
5fc
24 fc
A.
39
M
18
;;
24 fc
30
92
UU
50 fc
13fc
63 fc
52 !.
5J,
20 K
73
52 ;
1081.
18fc
104
43?;
Ifc
44 fc
37
10
35
Tedsy's Nat
Cleaa Chte.
fc
fc
"v
fc
It
V.
K
H
.i
fc
Ifc
fc
68 fc
49t ..
12-f M
79fc-r"'
44 fc
31 fc V,
59fc - Vk
40fc 3fc
73fc 4
183 -r- 5i
n
63 -r
29
31
124 !
49 Ii
57H
fc
29 fc -I-59fc-125.
-153fc-153fc-i-2Bfc-i-50Ji
94 H
264 ;
16fc
50H
83 -101
Ji -t-92
1H-
23 fc
31
M ,
21
6314 4-
108fc- 34
1 1 A .1 V
144-12fc-98
fc
144fc 44fc
91-r
32W -I-.1 !4
56fc-l-
9H
143
6fc-
c3-
45fc-'r
63 -
71fc U4
102(4- fc
4H-5- !4
9fc- 'i
22 - H
24fc- Ti
77 fc- 1
114fc- 3
81 - T4
32fc- fc
C2fc - fc
28fc H
20fc-I- 1fc
76fc
1064 -f- 3
V.Ji .
9
45 -72fc-16
fc
K
37!'a
121 fc
60?; -I
2 -12fc
112!4-!
1 1 74 -i-131
'-
52 -i-100!4
7i?;-f
26 U -:
14fc .
39fc
23fc'r
72
.132 -117;-43
3 ;-
1D5 -86fcT-84fc-55
--
22 -:
86
10 ,
14-
11 Ji
teji-:-
10 -
bi
21 1 fc ;-
99
12?; i-
Id
68-2
leefc .
13H- . fc
83 fc - U
24 -!.
83 fc
3fc- !i
45. 1 fc
40 - U
10i ..
26 -13?it-80
-
ai fc :
IOfc-1-
V9 .;-
Ifc-
68 fc -5tf
-H
-
4
39 -i6fc-r
18 -
fc
24 fc
se -
92
1 1 fc -51
45 fjf
ii !
73 fc--
"
109 !
1 8 fc -108
!
43J4-
fc
;
!i
fc
H
5i
Ifc
Ji
fc
Ifc
4fc
e?i
!i
!.
fc
it
IK
M
1
14
I
1
fc
V,
2fc
44 fc
37?. -
10 .'r
33
1M
Ifc
fc
fc
D
!i
14
tale. In $ STOCK Ulsh
loe ifc rhlgh Valley 63
Lima iiocemotirs .. sv
.. Loews Ine ...'.... 19fc
1 Left Candy 12
12 Lerlllard (Pierre).. 1 60 fc
. .Slaclt Truck B7K
7 Mack Truck 2d pf. 69 fc
7 Msctcay Ce 115
7 Macy ft Ce pf 11094
.. Magma Copper ..?. 32 fc
.. MaU'nsen' Ce 33 fc
4 Marland Oil 28 fc
.. Martin Rockwell .. 104
2 Martin Parry Cerp. 30fc
Max Meters Class B 14 W
10 May Dapt Stores. ... 66
1 Mclntyre Mlnlnr .. 184
Is Mex Petroleum 22 fc
3 Mex Seaboard 16 fc
2 Mex Beabeard OH et IBfc
.AAA. ...IHIIII epycr T
!,222'20 Mlddle States Cerp. 114
" .. nnnviiA ctaai hsi
.. Me Ksn ft Tex (wl) UH
.. Missouri Paelfa .. 16 fc
. . Missouri r&clfle pf.. 42 fc
1 Mentana Power .. W
1 Moen Moter Car... 1B4
. Montgomery Ward. 22fc
fc Mether Lede Mining 11 fc
. . Mulllnn Bedy 20
7 Nat Biscuit wl 37
.. Nev Cen Copper. . . 15 fc
N O Tex ft Mex... 86 fc
N Y Central 93
'A .ew Yerk Ceck.... "Vs
600
1200
300
100'
1003
100
100
100
3100
tee
2500
200
300
400
700
200
500
800
700
300
700
1000
500
200
200
2800
2900
100
3600
3530
100
700
100
200
103
800
100
1800
300
J400
900
300
tee
100
2600
800
300
2800
50003
62000
1400
400
400
100
800
200
200
1700
2930
2300
200
200
200
100
ifc
fc
Bfc
W
'fc
fc
H
fc i
14 I
New TerU V H H 21 fc
2 New Yerk Ont ft W 20fc
C North American ... S3fc
3 Nertli Amer pf 4Ti
B North Paclfle 75 fc
. Okla Pred ft Ref . . . 1 fc
Ohie Bedy ft Blewer 7
8 Otis Elevator 148
Otis Steel 8?i
2 Owens Det Maeh... 36 fc
. Otis Steal pf 45
. Paclfle Devel Cerp. 94
t Pae Gas ft Elec... 86 fc
. Packard Moter 19M
.1 Paclfle Oil 44H
8 Pan Amer Petrel... 88 fc
8 Pan Amer B 86fc
. Parrlsh ft Bingham. 12
3 Pennsylvania R R.. 46?
. Penn Seabeard Steel 3fc
6 Peeples Oaa Chicago. 93fc
Pere Marquette ... 3?s
6 Per Mara pf 9
7 Phillips-Jenes pf ... 95 fc
'-' Phillips Pet ...... 41 fc
. Plerco-Arrew Moter 13 K
. Pleree-Arrew Met pf . 31 4
. Plerce Oil 4K
4 riggly Wlggly Stere 49 fc
. Pitts ft W Va "34
. PlttM Ceiil 158
1500 ifc pond creek Ceal... 23 fc
100 .. rorte Rice Teb.... 72
200 .. Pressed fiteel Car.. 83 fc
1600 .. Pioducera & Ref... 43 H
500 8 Pub Ser of N J.... 92fc
5000 8 Pullman Ce 132
700 . . punta Allegre Sugar 47
100 2 Pure Oil 274
2300 .. Ray Cen Cenper... I3i
1300 4 Reading 79fc
300 2 Reading 2d pf . . . .
400 . . Remington Typew
1500 .. Replegle Btcel ...
400 .. Rnpub Iren ft Steel
700 . . Reynolds Springs. .
2100 3 Reynolds Teb B..
3700 4.13 Royal Dutch NY..
3H
i5fc
25
47 fc
23 fc
48 fc
51 H
21?;
39
100 ..st Leuis Ran Fran,
200 . . St Leuis H Fran vt .
103 .. St Leuis Southwest 30
1 600 , . Saxen Moter Hi
4500 .. Sears-Roebuck .... E6?;
500 .. Seneca Copper .... 8fc
600it.6U .Shell Transport .. 367.
100 6 Shell Union Oil pf.. 92 fc
4500 3 Sinclair Consel ... 32
200 8 Sinclair Cen pf...,10O
1400 .. Skelly Oil 9?;
300 . . Se Perte Rice Sugar 43
2500 6 Southern Paclfle .. 67 i
100 .. Southern Rail 3?4
100 4 Standard Oil of Call14?;
200 E Standard Oil of N J197
200 7 Stand Oil of N J nf 11774
1300 .. Stand Oil of NJwt. 39
300 8 Stern Bres pr 109
200 7 Steel Tube pf 79 fc
200 3 Sterling Products .. 59
600 4 Stewart Warner Spd 62ti
1900 6 Strembcrg Carb 62fc
8400 10 Studebaker 133'.
1300 .. Superior Oil 4fc
400 . . Sweets Ce of Amer. 1 fc
1703 .".Texas Ce 7'
1100 6 Texas Gulf Sulphur 58
2800 .. Texas & Pacific... J0;
303 1 Tex ft Pae r. ft O. . ?1 ?
100 . Tidewater Oil 123
1400 S Timken Rell Br....-3
2400 .. Tobacco Products . 6fc
3100 7 Tobacco Pred A.... 4
300 7 Tobacco Pred pf...103
100 .. Tel S & L ft W 67
200 2 Transua Wms Steel 35
300 .. Transcontinental Oil 12
1500 .. Union Oil 18)4
7100 10 Union Pacific 137
100 4 Union Paclfie pf. .. . 74 fc
500 7 Union Tank Car...132fc
300 1! United Alley Steel.. 34 fc
800 .. United Drug 82H
100 . United Rwy Invest. 11 fc
700 United Retail Stores 71
300 .. II S C I r ft Fdy.. "B
1 003 . . U 8 Ind Alcohol 66
3400 SUB Realty ft Imp.. 87 ?4
200 .. U B Realty ft Imp rts. fc
900 .. U.S. Rubber 52fc
200 t TI 9 Rubber 1st pC. W.
300 ..US Smelt ft Ret. . . 39
D2800 6U 8 Steel IC8
2O0O a Utah Copper 4
200 . . Utah Securities ... 16
400 . . Vanadium Cerp ... 36
100 . Van Realte 63
103 .. Va-Car Chemical .. 24 Ji
100 .. Va-Car Chem pf. .. COfc
300 .. Vlvaudeu Ine 14fc
200 . . Wabash 6 fc
800 .. Wabash pf A 24
330 7 Western dec pf...112
503 .. Western Maryland. 11 fc
500 C Western Paclfle pf. 56 Ji
500 7 Western Union Tel. 113
2100 4 Westlngheuss A B.I 10 14
900 4 Westing E ft M S97-B
BOO .. Wheeling ft L B 9?4
100 .. Wheeling ft L E pt 16fc
700 9 White Eagle Oil.... 32 H
600 4 White. Moter 50
SOO .. White Oil Cerp.... 4
1O0O .. Willys Overland ... 67,
100 .. Willys Overland pf. 42fc
100 .. Wilsen ft Ce 37
,2 100 .. Werth Pume M.. 334,
Txw
63
S7fc
19fc
12
166fc
58 ?4
83 fc
113
110
29 fc
34 fc
28
lOfc
30
14i
65 fc
18
239. fc
16
15
27 fc
11 fc
28 H
14 fc
16
42
67
IB
22
llfc
20
364
15
86 fc
92 fc
23 fc
21 fc
20 fc
92
44 fc
74 fc
Ui
6
145
84
36 fc
45
H
86
194
44 fc
66 fc
80
llfc
46 H
3W
93 fc
33 H
69
94fc
40 fc
1214
29 fc
44
48 fc
33 fc
58
22fc
72
83 tt
43 fc
92 fc
130fc
47 K
27 tt
13tt
78 tt
52 fc
24 tt
25
47 fc
24 fc
48 tt
blfc
21?;
39
30
1?a
t6
714
36
2fc
31 fc
100
9H
'2J;
b7!4
;3;
1143;
t'.G
117?;
39 fc
109
78
59
62
61 fc
132
4!i
1?
17 tt
i7tt
19fc
2l?s
125
"p.?;
iCfc
1.3
108
67
34
n?
18
136fc
74 fc
132
34 fc
82
11 Ji
70
in
66
85
Vt
52
96 tt
?9
107
63 tt
16
36 fc
63
24 fc
60 fc
14
8fc
23 tt
Itlfc
llfc
56
112tt
107fc
59 H
9tt
16fc
22
49 fc
3?
6K
42 fc
37
33 i
Today's Net
Cleat Chit,
63
58 -19fc-12
-f
166fc
S7tt 83fc
115
ItOU
32J4 2fc
34 fc fc
28 -10J4-30
fc
144
242J4
1J4-r
15 -27
fc
11tt 42 -67
-18?4
22- -11J4-
20 -i-37
13fc
23 fc-
21 Ti
?0fc
-
, 1 ,
7
148 !-
8fc
?4
86fcr
-t-83fcr-1
1 fc -46?i-:-
3!
93 fc
35 fc-!
C9 -;
95fc-5-41
r
13
.31 ?4
. 4tt
49fc-
24 '
58 -23
!
72 -83
fc
43 fc
92!i-
130?1 !
47 tt -'r
27;-
13?; 4
78H
53tt :
35',;
47 fc -
25?;
48 J 2 '
51 fc 5
21 ? -1-39
;
30 :-
B6fci-
8 --
aefc-'-92
u -.ii
fc -100
9tt
42?;-
7?i-:-
:3?;
114?;-
1&0 -
117?; -:
109 -: fc
79 fc-:- 2H
59 -
62J4 !
6255 !
i:3 -!
4fc-
Itt-
47 S -
1.7 tt -
20?; ;.
21 ?i -;
125 -
32?;-
5C!i
b3 Ji
103 -;-67
-35
12 -t
18
136fc -
74 fc-;-
132Ji -J
-llfc
70tt-
:8
66 ;.
87'i-i
fc-
B2fc-964-39
107J4 1
64 4- 1
16
35 !i
63
24fc-
60fc
Ufc-r
8fc-
23i-Hlfc-
11 fc .
56 --113
109-!-9
9tti
10fc bO -.
4
fi 4-
:
J3--
!i
!.
54
24
4
tt
w
14
54
54
5a
'254
!4
fc
54
fc
fc
54
tt
'J4
54
54
'tt
fc
fc
14
54
fc
54
tt
54
itt
ifc
fc
!a
4
Ji
fc
5
3tt
fc
5-4
?
1
tt
fc
1
3tt
fc
!i
i
fc
Ji
fc
tt
fc
Itt
fc
a;
','4
!4
.;
Ji
15;
54
2tt
154
IN LOCAL
MARKET
CURB INDUSTRIALS
HOLD RECENT GAINS
Confidence of the Investors
Strengthened by the Penney
and U. C. I. Dividend Action
1;
ifc
The Philadelphia Klcetric issues were
the bright spots of the local market.
The common advffhced te 31 Ms wliile
the preferred cased off te ill. The
movement wns influenced by the announcement-of
the cempnny's Intention
te pay n wage dividend te empleyes,
which was Accepted ns further evidence
of tlie growing business of the com
pany. This distribution becomes 11
charge only after prevision has been
made for payment of the present 8 per
cent dividends en thn stock and nn
amount set nside us addition te sur
plus. The movement in the general lfat was
mixed with most of the mere active
stocks shading fractionally en small
dealings. T G. I., just before the
closing, declined ever a point te CO's.
The increasing of the dividend rate
en the common stock of the United
Gas Improvement Company freru a -1
te n 0 per cent per annum basis thU
week, coming closely en the heels of
the restoration of the 0 per cent rate
by the Pennsylvania Ilnilread, did mero
te restore confidence nmeng Philadel
phia investors in the securities of the
local corporations than any ether
development since the reconstruction
movement started in the security mnr
kets. It was recognized long before the
United Gns Improvement directors made
their genernuH decision, which will help
te bring 11 Merry Christmas for its
li'Rieu of stockholders, that the ques
tion of increasing the rate of distribu
tion did net rest with enrnlngs, but
rather one us te its possible effect en
the long-drawn-out controversy ever
the city gns lease question. Actual
figures revealed the 0 per cent rate hud
been fully earned, and In better inform
ed circles, a belief prevnils n restora
tion of the long-established 8 tier cent
rate will net be lone delayed, recard-
less of the lease question.
Conditions confronting the utility
corporations, which arose during the
war period, could net possibly been j
foreseen by nny human ncency. Th"
manner in which the affairs of the
l nlted was Improvement propcrtlei
were directed during these trying years
should strengthen confidence of the
shareholders in the mnnngement. If
such results ns shown could be accom
plished ngninst se innny increasing
odds, there is little question ns te the
prosperity of the company when mut
ters generally ere resting upon a nor ner
ma equilibrium.
Net only were valuable lessens learn
ed during the wur period, nnd the
unrest accompanying the pest-wnr
period, but the events and conditions
served te bring out the- best hide of
corporate" management, which N cer
tain te bring very substantial results
from n stockholder's viewpoint.
Business Is en Moderate Scale.
Oil Croup Quiet and
Unchanged
left Hi"
IIS'. !l?i
.-.1'. r..-.
in:.', in.,'.
Wi kit';
im us
in 10
tl'v 1)1',
i'i y'j
flOOO Vacuum Oil 7 107J4 1054 107J4
H0O0 Wayne Ceal S-.... 7:i4 ":i? 78S
rORfUON IWNOS
2000 Argentine 7- ... 100
Unee Kins of Ncih r.s in".
1O00O Mtilce (luvt 1... fir.
nene Mrxlee Oevt fi1. In.'i'i
2H0O0 .Mc-l'-e Oevt -In.... i'.'l
flOOO Stelen Oevt a-...l7a
1000 Hep of ivrii Si .. MS
Oihsi llu-atnn OH- ... . 10.
1:100 Iluaalnn 1'x rtf- t"'a
1000 Itu.i-lan B'Jh ctf-. 01
NEW YORK BANK STATEMENT
Excess Reserve Increased te $40,
320,030 Leans and De
posits Expand
New Verlc, Dec. 10. The actual
condition of the Clearing Heuse banks
nnd trust companies for the week shows
they held $40,.'i'J0,0.'!0 in excess of legal
requirements. This is 1111 increase of
Leans nnd
I .llcniml. Innvimunil SflN. 12.". fl(Kl. 1111(1
the demand deposits increased $74. 5W
Details follew:
New Yori, Dec. 10. The market en
the Curb today was without special Im
portance as, far as price movements are
concerned. A few of the industrials
showed n firm tone nnd were traded in
en n moderate scale, but without mev ! $17,171), 020 ever last week
ing into new ground.
Durant Meters held close te 72 nnd
there was a small amount of businei-s
in n few ether meter issues. Itepetti
Cnndy, which wns one of the strongest
features yesterday, was In moderate
supply and yielded from S'-fc te 2. New
Yerk Telephone preferred was firm nt
112. Delnware, Lackawanna nnd Ve"t
ern Ceal wns traded in at 110 te lOD'-i.
Continental Can, when Issued, new
stock, told nt 42U te 42Va.
The petroleum gieup was also quiet
and without special change, Ktnuilard
Oil of Indiana ranging from 110'v te
ll'ii, nnd International Petroleum
sold ut 2091 nnd 20. Mammoth Oil
was steady, selling at -12'"; te 42.
There wgre a few traii".actiens in Ilynn
Consolidated 'at 4- and -Hi.
JMll'STRIAUf
Itlh 1 ..
2300 Acme Ceal fl7e r..1e
L'OOO Acme J'acklna; . . an t)Cr
1!00 Ilroeklsn City Uy. . SU s'
COO Jluildy Uu-ls .... I A if,
100 Campbell 7 e c pr..l084 lOMVi
ion Car I.lBlil li 1W
SO Cflluleld pf . .. .ten Id)
3S'
15
S'l
a.iS
a
j
n
3.1'j
Philadelphia Stocks
en
."5
1
1
fc
?a
U
Ifc
fc
l!i
fc
'fc
fc
2fc
3i
'3
1
. 'h Iaiv
205 Am Itwys lit J ..
140 de prflf.. 00 ZS
225 Am 8trs..l.-3- 155
50'Uuff & S
t c pref. u.'
55 Cen Trae
x J 50?;
1:10 Klec Ster. 55!!
lOtlnt Cen C i'i
100 Va Sup C 5',?.
20 O Eibcnl'r 77 "
10 Penn Cent
Light pf. 57
r.01I'n It It.. 101$
lOOPhila Ce
cum Tit'., lis.
31)2 Phlla Klec. 31 :as
310 de prct.. . 31 31
82 P H T... 31 31
20 Philn Tine 05V. 05 ii
130 U ( I 5114 f,Oii,
ue pre; . . .111 no
Net
Cleae chse.
13 Vj
00 ..
155'i..
r..: 3
50, K
iuu uu hippie
3000 Columbia KtneMM. S'.ie
noe Cex'11 Cath .Stores, k',
r'Hi Cuban Dim Suv. . O'j
finei) ). & XV C0.1I....U0
200 Dort Moter 7
ISO Durant Met 721-1
3.101 Durant Met Ind.. lh'i
unn nnii Ae Uui fp 11
200 (lien AMen Ceal.. r.4-
m'viuyta inrei ...
noe llydcn Chem . .
100 Hudsen Ce pr .
ion Hudsen Man .. .
llOtl IliMnnr .Man pf .
1200 Mercer Met
700 Mnrcer Met V t c
lim MeHJbl Iren . .
1MHI New Kctlnn l'ub.
si New .lerney .Inc.
I3n New Yerlt Tel pt.
0OPer'es Met ....
soe l'hlllp Merris . .
."On IMieenlx Heslcn
ie'i j-fieenix u . pc pr.ioe
11 Oil 1'rlma Radie l.V
3I10O nadle com 8'i
lOO Itndle pf :t
4100 Hepettl Ctndr . !t
10(H) Houth Ceal ft Iiun. 31e
40UO Stm.d Moter !!,
10 Hwlft t- Vn . 107
1B0II TobaLCe I're.l . it
100 Unltnl JV Sh new KM
7IHI t.'nltcd net C tniy. .IS
100 It S I.'uht ... . 1.
4000 West i:nd Clieti- . n
loe willy Cerp 1st rf . l"'.
400 Willy i'p lt u tf SW
100 Wlnther Me. . . luVs
lUij Yale & Tewne v.- I r,7S
STAMIAUD OILS
lSOd Anule-Am Oil . .. 17'a
fciie Atlantic Iiilius ... (!
SO Buckeju l I S'J
10 KureKa I I, . . tin
MO Impi-rlal Oil ( an 113
te Indiana I'Jr . . . H"'
:0il0 Intar l'et ... . 2
200 Nat Trarn S.. .. 27' i
20 l'ralrle l'lp. U ..312
no se inn oil . . .ine
110 Seuth 1 1, ... 104
200 S e.l (,f lian wl. . . -12U
:i('0 H Oil of Kan wl II. 42Vj
200 H oil K- no
3S0028 Oil of Ind.. lltlii
1KI0 M Oil of N Y i 4(1;
30U Vacuum Oil wl. . 40'.
37e
s
'Va
10'J
I)
71W
171.
SS
R
3S
2'i
in
iSC
U'a
172
112
fili
1U
S.-i-i
lun
3
n'le
2".
107
4'i
le' j
s
leSi
57'.
ClO'H
r.fle
3(le
HU
liV
10JV.
101
2'i
r.iie
s
n
lOti
it
72';
e4
3s';
24
IS
3)
3
12i
111
172V4
113
ilft'i
Jft't
3.1'n
100
3j
3
24
31
2'1
107
II
r.U
".
la
42
10H
R
10 'i
07S
FOREIGN EXCHANGE
New Yerk, Dec. 1(1. Interests in tht
market for foreign etchuiiRC ngaln to
day turned from the slcrllnjr te frnnt
Uelfjlnns, lire and murks. The last
mentioned reie uu extremely nctlve
trndlnjr 30 points, te .0185. Francs,
Uclffiiins n.nd lire reached new high
figures en this immediate movement.
Franc1? nnd IJelRlnns gained 14 pelnld
nM. lire 0-2 nnd Hwlss 3.
The rest f the mnrkrt was neellelble.
I ffiiiiders lest 5 points nnd were 20
I points under the recent high, which
1 was purity. Danish lest 2, while Nor
way cnined that amount. At today'
closing, francs worn up 4414 points
from the 0.17 quotation of November 8.
Sterling showed n net Improvement of
r,Ac nt about 4 cents under the extreme,
high reached n day or two age.
I.nte quotations were: Sterling cables
4.051,, demand 4.04Th S frnncs cables
7.011,4. cheeks 7.110",: IJcIeIiiii cables
7.0L'. t'hecks T.fll V : Urn cnhles .i.l4,
J9?.(lcmiml Vl"";. V,c -1 it, Viih:". t ,,'"'cks 5.12; Swiss cables 18.0S, checks
000. OlTtt.nir tlie 7fd. "' V ??. aR.1T. ; pe-neti. cables 15.77. checks
was n gain of pO.J21.000 in rsencn-r ,, ,,, f).s h ks
crrdlt nt the Iederal Itcserve Ilnnl.. 20.Nl Nenvnv cables 10.12, checks
i;xce ift'rv.
As:r:at re.
I.enna, etc
Cah In vnuHn
a i rt member
bHii!;i
ll-fcrie In mem
ber hanki and
bark"
Ilnni-i ve In Statu
l,nk and truti
cetnp.inlea
It'irrvA In State
Innlcn and truit
ceinpiiny depo depe depo
lteri"i Net demand do de do
realts Time deposit . .
Circulation
U. B. depn'l s
deducted . . .
AVKItAOK
Thh weK
jii.one.3to
r.2i. 222.000
10.07: Swedish rubles 20.01. checks
20.MI: guilder cables 40.00, checks
,30.05; marks .0185.
rri... .... ....1 f.'. ...,..,. .. a.I.mma
.,4 Jr.- B1A . ' ll.' .'JI i I II 1 I. Ill ,M, Villi VAl-IIUIIKn
r.aoi.ieeieoo were Irregular tednj. relih marks
I.aet wel(
4. 574, OSS, 000 I,oe3,so4.ooo , rallied 5 points from Friday's extreme
. 1 low record and liulguriu gained 3. The
se. 128. 000 1 "'st of the market was lower, with
MVerlio-hlevakm down 14 points nnd
01.225,007
."03 811. O00 503,190 000
Serbia down S; Finmarks lest 3: .fnge-
h. 05D,00
9 355,0O'
;,Sin,2SR.0()O 3 fi02.07n.ii00
I31.C12.O0O 4RII.5iR,(iO0
32,25S,00i
tin.3st.0oe
AfTL'AI.
Tlili wek
40,320. IM0
B.'iT.RnO.OnO 53O.Sfl0 0O0
4.052.20S.OOO 1.553. 783. OHM
O0.75t.O0O 5.521.00O
KxeenH ieei
Afc-nreffate re-
htve
Iearia. etc . .
Cant! In xaulti
end m e m be r
bank
Re.erve In mem
ber bankn and
reserf banke
Heserve In Ht.ite
bunks nnu trust
cnintianlc ....
He.ere In Stat
banks nnd trust
company det.oe-Iterl"
Vt d.mnn'l de-
ne.i,M ;-,,. ,'.!. ,. inn, ii,'u .1M.H mi
Time deposits. 427.0lli.00O 133 I sr,.enn
Circulation . . 32.3ii5.oeo 32.150.000
United State fle fle
feslts df-lucted. 1.10 SS2.000 57 020 00"
fSliula, 2. and (Jieeks. 1. Quotations
I were : iliilgnria, ,iH', Humania, .OOTti ;
s 117 000 1 Serbia. 1.12: Oreeks. 1.23: Czeehe-
Slevnkln, 2.05: .Jugelavin, ,2S, n.new
low recerd: 1'ellsli niniks. .0001 j Fln-
n 250.00O mnrks, 2.52: Austrln. .001 )', : Hun.
gat Ian, .0(1 1'.
YBSrUIlDAT'S I'fiSINO QL'OTATIONP
Sterlltij l-'rarrs Lire Guilder"
Demand . .. 4 H34J 7.3,"., 5 041a HO.t'il
Cables .. . l.OlfV 7.30'4 5.05 4(1. 00
TODAY'S OPKVINf! QfOTATIOSS
Sterliiiu rrnns Lire IJulMtr
D'mjnd I ill, 7.55'. r. OT"i 3H.I12
I'aldes I OP, 7 50 5.0S 39.01
i'L'J.HINO QfOTATIONH
Sterllnc Trati's Lire riutldera
liem.ir.d . . 10.". 702H fllii'i 40,00
Cables . 4 il,V. 7.03 VI 5 It 40.M
32.101,000
030,(100
Ijst we. Is
23.14d.410
339.7fi0. 000
S 037 00(1
T43,Uue
.73 509 000
10(1.00?
0 221 OOO
Extra by Armstrong Cerk Ce,
I'lttehnreh. He. til --Tlie Armstrena; Cerk
' 'empanv ivis d'-i'luri'd a m tr cent quar
trlv dlildetid and .1 I tr cut extra illvl
il.-nd en tii common stork, and Is. per cnt
e. the Dri'firred all payable January 2 te
Htu k of record necemtr 27.
Prices Firm en Paris Bourse
I'ariK, Ime. in - I'niex uere firm en tli
Mutir'.e ted.'i Thrf. Tier cent rentes 59fr.
, x'-nantf en Lonuen Olfr 00c fle n-r cent
1 'nn 70fi ISi. Th- dollar whs quoted nt
IKfr 20'
17,
'i'i
iH
Hit
112
ti'iVj
312
KHi
10 1
4:
17?,
SO
Ot)
112
li'j'-i
:ei,
3?rj
me
101
12'i
i:j
HS4 listj
ll.'l-j 115,
W
4UL
40,
401J
a 1 . . I
i
103s
lli. 41i
40- 1;
3
11V 1
"i-2-r '
31 14
31 ..
tt.iy.-r u,
50s I'h
.it)
H
H
' H
H
li
".
14
!
!.
3F
!.
i
lOOU'SSteel.107 107", 107a4-' 'i1
ttX. ; Wheel's pf iH 10'i 1CV. I
"ICv. dividend 52. I
e.i'-"1.1 Ea!"'' 278," ahares. cen.ysred irlth
?,S4Ji?nS.r"" "attrday. Tnus far UiU week.
JO. .5S snares,
tNet change made by comparison Tvith last
sale en New Yerk Stock Uiclianite.
IIIIL.DLXriIIA nONUS
1000 Liberty 2d 4V,s '42
1550 Liberty 2d 4is 42. . ..
5500 Liberty 3d 4i-18 '2S
2000 Liberty 3d 4i,is '2S
100 Amer Oas & Kiectric 5s.
500 Amer Gas & Kiectric 5s.
1000 Kiectric & People's -Is. .
4000 Electric & People's 4n .
5000 Lake Superior inc 5s. . .
10000 Lehigh Xnv cons 4'.s. . .
3000 People's Pass t c 4s7. . .
1000 Plain Ce 1st. 5s unstnmp
3000 Philn Kiectric 1st 5n..lnrs
ir.Ali PMtn Via.,..!,. 1... r 1... -,.
j.fwv. ...... ..iv.i,iu mi in,.itj(n lull.
100 Phlla Kiectric 1st 5s.... 100
18000 Phlla Kiectric 5Vs...lets 102
4000 Philn Kiectric 0s7 104'J
Total. S40.250. romeared nliii ten nun
1 terda Thus far this week, OW,300.
STOCK DIVIDENOS
ew atlc. Dec. 10. Tlie Pan-Ainerk-an
retreleuni and Transi,rt Company haa u.
dared a stock dHldend of 20 ir cent? pay.
able I'abuiary h te ateclt of record Decern,
ber 20. This Is in addition t the. ,"1
dividend of 2.1 per cent declared en Octelnr
23. last Tin alTtdend In payable n "1J"
tock en the common and elass "lr' steris
At the time the 23 per ennt steclc dividend
was declare!, tl.e rtlreaters declared a quar
terly dl'.ldend of .' a Mhare, payablg Jan.
uarr 20 te ateck of recetd December 31
puttlns the stO(.k en a IS bikls, compared
OS. 18
08.14
OS. 70
03.70
S5
m
OO','.
00
21'i
114
73
ilDVi
Mil 'J
4 I with Id a Sar preweua.
LOCAL CLEARINGS HIGHER
Week's Trantactlent 7 Per Cent
Greater Than 8ame Period Last Year
Kichanges by banks of the local
Clearing Heuse Association for tbe
week were 7 per cent greater than dur
ing the same week last year, the total
being 5390,000.000. compared with
$370,000,000 this week last year..
Clearings nt the ten principal cities
of the United States, as comeiled by
the Commercial and Financial Chronl Chrenl
elV, were $7,404,094,891. against
S7,tilO,000,fi40 the corresponding wees
in 1021. or a less of 2 per cent.
Details follews:
inc.
mS'.! 1"1 s r,
V Teri.' t3.K2S.bO0.0Ort t3,Ht(l,4(iO,000 0.4
Chi . 4t5.1t).1,B88 44J.TIU.776 9
l'hlla R9S.O00.0OO .lYft.COO.lVlO 7,0
f.HII. nA AAA AAA OAA Mil Aw. m
t.it
12.il
307,000.000
124, 020,1110
I.IHIO
2se.00e.000
110.2S.1.11A
131.S00.O0I) 130.000.000 1.4
120,)('A.tl23 ISS.OOO.nOO tl,S
!i,sn,Dlf
70,001,075
OB. 192. sin
1,714.732
Itosten
Kan. C
San J'l
Hits. .
Detroit
Haiti,
N. wr .
Total all
eta for
week .17,154,1104,4111 l7.610.0t.lMIO
Decrease.
Fewer Business Failures This Week
New VrU, ec. 10. Hradatreata reports
hunlneas failures for the week endlnv D.
rmber M number 445. which compares with
462 last week. BOS In the Ilk week of 1921,
414 In 1020. 123 In 19HI and ISO In 1018.
Reserve Banks' Discount Rates
Official rediscount rate at the twelve Fad.
ral Iteaene Banks ar as follews:
Treae. 1.1b. Cem' I Tlkr.
cits, iiones nates Acctst.
k
l
Baaten . .
New Yerk .. . ., j.
Phlltdalphla ... ? h
riDvtlind H h
niehmund .. . . 4li J5
Atlanta. . s ?
Chlcare . .. S $
St. Iuls 4i 4.
Minneapolis .. "V( 4tj
Kansas City . .. a', i
Dallas 41s lt
Han KranclKje . . 4
4
4
'
43
'
)'
41,
4!s
4
a
8
2 0
BAR SILVER
Dam
Vsiu 'i
lertilcn
Pi'jce
..KBlln t.n, llfAr WSS 111
Yerk teda' at WAjifMf fjns euni
n. fl2H'i s'sain of M.t in toueoa
was J-1M miner at b,..
unchantad
r or
Inli
ISO.
In
Raw Sugar Active and Steady
New Yerk Dee. 10. The raw sugar mar
list I fairly actlte and eteidr with Cubas
for December ahlrmsnt aueted it SVc. cost
and freight, and for Januarr shipment at
8 ft.lte te SSc. coat and frsliht. Hatns
yesterday Included 20,000 bats, new crop, for
December shlnment at Bv, cost and frilsht.
te an outpert refiner, and 12.000 bar
Ciibas. afloat nnd, for prompt shipment, at
aic. eeet and frslehr. ,te local refiner.
Arrivals of rm'i lncli'de.1 IS, 700 bm.('li
te Arbuckla Ilrethers: 14.000 baas Cubas tn
the National Pour Itrflnlns Company, and
6900 bars Run Dorelnsos te thn Wsmer
Kuaar Reflnlnir romeanv. The local tsrlned
marhet In moderated' acthe en the basis of
7 10c. le.s 2 per cent for cash
Stock Dividend Ruling
STATE OF TRADE
Retail buylnr ha been unusually atth
flurlnr the laat week, awarding te tnds
report, th buj-lns txlna atlmuiated by hell
day demand, pew.rfully re.enferced bT cold
weather nd new. actlv employment and
the distribution of very lari Christmas club
collections of funds. These deolePmnts
accerdlnr te Dradetreefs hav assumed Urst
.''" i m" .tm.nuii n connection u.ii,
aeneral condition. 1 1 aaency ,.. .'"
lebblns trad, except In auk .h1Vm,h!
knv n In fll n,h n.Tl... .-V4"U fUPmllt
W
lloiMen, Dec. 10. The Jehn v. Cenner
Company has declared a Meck duidend of
40 per cnt en common stuck, payahla as
een as practicable, te steclt of record De
cember 20. The present common stock con.
slits of 1S0.0UO h.irejief 110 ear.
Teledo. Dee lfl. mackheMeis ef l-0rd
Plate Ulas Company meet December 2n te
vete ut"ii a oreiwjieii lncree In canltil
stock from 18,200.000 te IIO.OOO.OOO If
the lote Is favorable steclt dlldnd will be
dedaied.
Wln te (111 rush order. Is eiTnD'e?mnJ;'J
rbelessl ttad proper Is Qui" siicSn't "tSJ
poreaoh of tha lnentery period lnr "
"Hetti una rtpeit, lieweter full n,..
boeU for th nrst quarter of le'a . ,,J
continued, "which I n, better cndiffBn '.. '"
. jear e. Hetall trad" e f?r .fi1 '.'".S
elMi:s.Swr,,d lbU 0t '" e atrarne."
Dun' Rarlt ssy; "Kmpleym.n.
wers.r. ha aalned. appreciably.0?"?. ?J
"h5,iKfUmnHnl"i"feSE7ir"',S '""iSein. I Th. JU-hlsan Cooper nnd Urns, .-emp'any
iiller i thr I solid hi? '. 'J"1"""" sit- I nnnnuntu a 20u ir cent iiceu uiviVlenaf
rhlcasn. Dec HI The. Jllchls-an Cooper I
tal from ll.O00.00O te 3,000.000. and do de
rUred i 2J0 per ient Heck dividend, pajible
te sterlt of record December 20.
Vountstewn. Dec id The Newton Hteel
Company has Inercajeil Its riiinmnn ilMdeml
te 2 or cent for thn fourth emiter p.i'.
nble .Innu.ir" 1 t) stek nf rv ',i li -, .
20. maklnir a tet.il of 5 per cent dt.bura
en the common uuilinc mi wu. lm
ler iiteferred dUMi-nil .if .. r . .Mit vns
also declaied. Tlie remnanv Is Inst.illlnu
eiiit sil'lllleiml uli-tt mills nt the Xentnii
Pall- el.mt. rewslni; prialnnl brearatu call
lnr fui e.x mill ImtnlUtlan. '
Plttkburch. Dec. 10. Westlnchn,,.. . ...
lTHh .ii.iH.iere nne authorized a IneetTmr
INDKPEXUISXT OI US
TOO Ark N'nt Qaji . ... S' SH
SeOu lloene Oil . . . . .13c Sfe
lOO Bosten Vj., ... ti.'f u.c
OOHCarlb Svnd . . .I'i .-,;
100 Cities Herv 17S 17
100 Cities Rrv pref . 074 074
100 Cities Serv 111! rt. 00 i.H8.
leOO Untlneern l'et . . ISe lfcc
7B0O I'ederal Oil . . . . Me vii,.
100 Knnalnnd . . 1.1c l.'lc
noe (Illllland Oil . .1 2
.100 lilenreck Oil . 1 ,f 1 J,
5000 Hudsen Oil .. . ?.ii 2Ce
11000 Kcydvn. Hsnei , .'in,' l'i'.j
noe l.antin Am .... r.i). due
linn Lewry Oil l, ii,
2U0 I.vuns l'et . . . . r,7,. f(7n
3000 Mfttumetli 4.' 42.
hOU Xluralcnlbe Oil . i:. i:.'
1100 Mailend Mw ,'H. a',
100 Merrltt Oil . . i;. i!
4S0O Mece Oil I ,
10,1 .Mountain l'red 17
2.".i10O Mutual Oil 1",
r.00 X IJ ruel oil . ,vii4 .',
Ii.un.-C1V ilex IVlll't j
ioeo Neb,, en ;.,.:,
100(1 Omar Oil l
190O ivnneclc Oil . . . i:
1400 Han Cens .. . . 4'i
100 Halt Creek Pred . 2M
SOO Hapulpa lief . . . .1'.
70e SeatiearU 2'
120O Hhell t'nlvn . . . 12-,
SO0O Hlrim l'et . . . . m'i
1000 Seuth I H . . . Ce
17fHl Seuth States Oil... 10',.
HOOO Texan Oil... . 31,-
llOOTumi.in i'i
400 Wllcet O.I US
8200 Y Oil . . .
MIMNC.
100 Alas.ld Osl . u
100 Alvanide ir.u V,
2000 111 Ixd( :
toeo lltken i Sold sin
2.1000 Hest Jlint Cen .'in.-
1000 t'anarl" in '.'i-j
2rlOOOf..ndelin'a M. ,1-V
lOf'O Cfum Cep .Mln . 3.
000 Cem 1 Ilii"s . H-,
1000 (Jerl. I'rev He
2200 C'ertcz ."II . l'
2000 Dean I 'ens 72,i
1200 Delnree Iri.i . 2
14(100 Drjdi-n field nu . T.7.-
02000 Kl Hahadei . 2i
12O0O Km-ni rill . . . 3e
HOOO Kureka Cieeeue . 2ij
8100O Kiurtunu !3c
2S00O Oel.I I), r . I"!
17000 Oeldlleld no- . 21,'
4000 Harmill 1' rtc
100 llerla .Mln 7-s
210OHI1I Ten Vi- 10O-
100 Heme Seui.J 2S
400O Indepnilen. l.e.-vi 30..
700O Knox Iilv Z
40O Masen Val'.e: i"
r,O00 McNimaia H-
3000 National Tin Jl'r
700 New Dem.nl.in v
700 Nlplsslnt ',
laroeunuio cepiw no i
IOOO Oplilr Hill." lf.e
520u Itsy lfercul . I'i
2"00 Illehmend i jh . 2l
2000 Jllter .M'n Km. ITi-
300 be Amer 1' ft tl 34
ROOD Hpenrhivtd Hi, I . 7i-
lOOOBtand Slhnr !.hJ 2:,'-
lOOTennpsh Itelment . I -j
1 1 00 Tonepu h DUule 7I
1700 Tonepjh i:t .U)
11100 Toneii.ili Mill 2'.
8400 Tuelunim. i'.,l
140O I'nlted ICistern I i
1000 V B Centltu ntl 17,
400 I'nlted Vrrde .'s
IIOO I'nltj Child . .1'.
100 Went Knd (',111 . Im
4000 Wert ljnd l:' 7
IOOO Whlte t'apB 1 '
8't
33C
J.'"
3',i
17S
H7'i
HO1.
1Se
SOn
l.lc
:i
ii''
27c
27e
OOe
u;
r,7c
I2N,
l.V.
.I'I
.7 ,.''
11'. 111.
se'. r,ei
2 2S
21, 210
li'ir bDa
'''. I".
:i ;i.
Ull". 20.
3 .1
2. 2i
1 24 1 J4
12', 12'
If fie
IflU 104
31c 31c
1 1A,
i s
7u 7c
On January 1, 1923
AncL1 Until Further Netice
Interest Will Be Allowed en
Savings Fund Accounts
(net Subject te Check)
4
NORTHWESTERN
Trust Company
Ridge and Columbia Aves.
Capital $150,00000 Surplus $725,000.00
We have en deposit ever $7,750,000.00
WILLIAM FREIHOFER
President
's
2r,e
21 1
:ic
;is
4's
14fl
1's
7dc
2c
20
'r
21 r
10
21e
0,'
7',
P.'i.i
IS
Op
2h i
i
,'1c
l.'n
I'i
21,
111
7im
3".
2 ,
HI.
3
1 :
i
4
4c
V'Sfl
2.1-
24
3
.IS
4's
lln
n.
70c
r-'J
2e
3C
2 he
22c
Me
2.tc
1
7',
100c
2'i
3He
2c
1'.
,i
rlij
2
.".'
dell-I'i
2lr
17"
:i'
ii.
I'm
17c
lle
II
i!
Ii vv mnfi J.rJ " (I
mw i
BEGINNING JANUARY 1, 1923
Interest Will Be Allowed
en Savings Fund Accounts
at the Rate of
4
Union National Bank
'Where Arch Street Crenes Third"
IN PHILADELPHIA
H3S 10.11,
i' i "j n , i
Terlt Bteck liichan; sttrdav ennnuncad
th follewln dividend rullni. Hlandard Oil
of Nw Jrsr hU b ouetd stecli divl.
rtsnd. Dseembsr 3.'i Btandard Mlllinar. sx deck
dlvldsnd Dcmbr 221 AllUnc rtcllty. ex
ftecU dividend Dembr 1.! Packard
Motorcar, n dn1dnd Djewnb-r U: Atlantic
Hnflnlnr. x stecK dhldrnd IHctmlier HO;
HtlKt.hnL.A. staclf dividend. l)AC,nhllr
Stti, anrl Waffln;.. Cenipany, ex atneit
dividend Dicembsr St "nlen .Tanjc par
net 10 e aueieu p .By''K uiiusna
notice, una is,ii9nai aurr
JiVt-
f
ics.ll until
tttlGmiMny Ik net te uutd ittclc
ii4.uUl;lujrtW sotto. y
liicieasm riem ti.u'ju.vu'i te n.oeo.OOO. Th
SUKM 11IV1U''II1 J'-ii uu i'liuinllIlK DHlllfKn ill
ths trea.urv ,tt arnruximnteli' JJOn.oeii, it
sain .
DIVIDENDS DECLARED
Itlsh Kmplrfl Steel Corporation .,,,, van
of li uer cent en u. ,i"'. ".
ble Fsbruary J te holder u r.cerd '. WecM.ddui ej th- Wan.l.ucl. fempanv.
r-1?' ... . .- recore tmnutrcurrs vf v,mtnj, 0td st IVeu.
',7si'A"fern1' .W'ctrle Corporation ' dence. ' i 'Q.LnrWI '' -''Pltiil stoelc
JIl"L.vv '"". prsierrrd. nav.hl.i from .mu."uu m ....uu.uuv, jjiei- eted ulsn
W Je tecjc of recerd Decimhir n , te dlstrlbule unwiiB thi'inar us th. Sin"
tlOCK im l.'v y.i ..nil gtwil UIMUCIld.
Thn Hrnwn -Sharpn Ms.nufacturlrc Cem.
panj of Prevldcnc. It. I . nml.liig nuchlii.
ter.lB. fllf.1 with the Secr-tatv nfstau no
tice thnt Its cnnltnl stock hud tH.cn li'ci JM,,?
from ll.OOOOOO tu Ilil.OOO.min,' a nteSl-dlld-nd
of 1S00 rr c-nt ns noted
. Antjfc-jvintnutn Oil in ine.Vim auM.nd
W!.T' .r.ss.niar nli.v r.-,.
7nS c.wffSrl: ?? 'W January te
stock of ,S-rd becembcr If, xa
BAfJK CLEARINGS
Hank clearlnc tedav compared with
lpendinc day last two ersiv .
t A,.ll'S 10!
The Simmons Company
lock dlldnd of ine per tent te Ihi ,ii,.
has drclnred n
Phil.. .1105,01
,nsiQn , ii, u
?y,yY ..tffiyw.een
oe.wft' V'V0.M
irm
trlbuted amen- ituvkheliler of the common
teclt or company, ine n;v stock I te be
. -.. ll'JO I
54''55ll.iied immediately te toekheldr of rieeM
IIOMIX
lOOtl Alllhl l'.tCnrlK Nf. '2"l
noeo Aluminum 7h "j" Hill's
r.000 Am O.ia i HI i',i li7 W.
(1(100 Am I.fKht T lln wv. 101)', 100' 101',
niiw ,m ici im -' ii'i'. nil', lilt1
dilOO Amicunda. 7n J m li,;i iim
2(K)0 Armour 4 C Ts . 10i. le Ki4,
110uOHtli S'l 7s '.M lfl P. in. KM,
1000 lleth Steel 7 "1.1 M2. 102 Ifl.'A.
11)00 Husten i. Mnltip (is (. (i,l 0A
7euO i Mil Nat Hi V.'i 7m 11 "'i IW, lln'.
21100 Can I'-i'lllc 0. .101 101 lui
1000 Cent Hteel S. lnni.,, le.M. ln;,i-
tiOOOCens Uns Halt 0. 101'-, 10.1', li,.1
2000 Cens Uns iijIi r.K im'. ion. net.
ROOOCens Tejlll. 't . HM. Iili, 0i,
4000 Copier Kvp en .'.' Ii3i. l('i, 10.1',
14lHIQ.J)i.i,l I'i II,,. lis l , I
20O00 liflrelt i;l lU i 1 HI1, 101 10P
ilinin I'M i.u ill. "j v
I00i)tuir lteht 7
IOOO den AsphuH
HiOO tlulf ml 7s
HdHMOulf Oil A
1000 Heed llubbKi ;
HOOO Inter II T 8. 'tf
f,00O Knnsas Oas ds
1000 Kentiecett 11 Is
1000 I.sclede (la. T
17000 Jyiuls ( Kl
00il Matiltebi Peiv 7
HOOO Natl Acme 7'i s
nene xv nh ii 7t
"O0O l'hlla Klec C
XOIHI l'hlla KIpc bVu
wool) mil r,., m, .w )0
2000 Iuh Kerv N J 7a 10.11
20OO SenrS'Iten 7s. '23 101S 101U 101I
2000 Pliiiwhern 7 104. ii4 IDI't
nene Helms t i"ic 8s iem. ion'; in.ti,
:toih)Ke Calif Kd Ss . iils H3i I.IV.1
21iiil0 smith Hell 7 102'j 10", tiv
1 1000 M Oil nf NY 7s.'2-. HM 10 1', 10-1
2000 h en i.r v 7b "'7 ier,j. in:,), m,-,N
1O00 H Oil nt NV 7.,':i0 K s '1 Km
ROOO Kun Oil 7h . , . 10i. Iflli. mil,
1O00 Swift Cd 7s. 'SI 1 J02, i03i
m Hwlft A Ce R. '31 W, MJ n.v
lS0Unl;td Oil rrea.Sa- 101W mi, 101
ll. HI, C. 1,,,,
Oh 0i Us
Hiss l".'.', w:.
iesH ims hhlJ
(Ill's nil'i fill's
1)S. lis'. ns-v.
. H7 C7 117
n:S 117 117
IPC's lll.'i'i 105 ,
Hll'i 101 10 ij
i' ni'j ins
07'. 07 fli7'
??, '" '
si's nuts l's
ms ion ier,
101 Vi 101 H 101 '-j
im te in;
10.1 1031,
UNDERLYING RAILS
FREE FROM STATE TAX
IN PENNSYLVANIA
HOLLIDAYSBURG. BEDFORD
t CUMBERLAND R. R.
FIRST 4
JULY 1. 1P51
PRICE. 91 AND INTERCST
TO NET 4.56".
PHILA. J, READING R R.
IMPROVEMENT it
APRIL 1, 1947
PRICE 91 AND INTEREST.
TO NET 4.68
PHILA. d. READING R. R.
CONSOLIDATED 4s
MARCH 1, 1937
PRICE, 91', AND INTEREST.
TO NCT 4.90',,
REILLY, BROCK & CO.
306 CHESTNUT ST.
PHILADELPHIA
"Ii I " 1
Offering Wanted
Zaneaville Rwy. Light
& Power Company
First Cens. Ss, 1924
Wm, H. Faust
Land Title Building
Philadelphia, Pa.
Telephone Spruce 7575-6
Safe Bends for Investment
Halsey, Stuart
& Ce. Inc.
I -JTW..U4,. T.(,,tenMt74lt
C. j. rA 1 1 UW Sc tu.
'I' & I'lir.Sl.NI T KT3.
BANKERS
Nni lessors In
vi!.i:ii t, sTF.VKNHnv
lerHS llillicni
llOllil. nn.l
Munli.r. I'lilln
inri a.IaI
jqeU Kwinas.: '
Uwrnce . Brews & Ct. 1)
itniiMtL' ruiLlc ACCOUNT AHTI
1110 REAI ESTATE TnUST Vel.
"II! U4 sdjnit iirtHiraiesiM
.-.Mw...... .riDVII. US
skw turn mii
"I IIKAII IT l'.VICKI MIMINIMI'i
subscriber In Hethlehein lulit " lusf
. rt!?, ".l,r 'I) ,,,'', ' "ever lsl is div itll
i w ll'eul ie.,1lnK "The WnshlnKnn fiftyL.ttW
h;,rp5,nVnr.n.,. T.w;r,' W
m
Al
'4J
naeir. iv:itv t.inpnin ... . .:
bit. Eiirir ,,V0fln U, uUT-Uia'
thlsvMnii
.A.iJ if.
.1 .
l
;... .ft ,!, Jfrt
w -- - -.-. mi, mi.
politic! und.icuFii.,,1,. f ;,"' .a-A"
i"