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22
EVENING VVBXjIC LEDGER PHIliBEEPHIA: WEDNESDAX DECEMBER' 2TJ 1022
W I
I
A 7
Convertible Bend
Tax Refund
in Pennsylvania
The obligation of a
Company in which
Standard Oil Ce. of N. J.
Atlantic Refining Ce.
Standard Oil Ce. of N. Y.
have a substantial
Cash investment rep
resented by Common
Stock.
Send for Detcriptive Circular
Frazier & Ce.
INCORPORATED
1433 Walnut St., Philadelphia
Spruce 859 t
'Mi
City of
New Castle, Pa.
Scheel District
4J2 Bends
Due Jan 1, 1931 te 1910
Prices te yield 4.10
C.rcu.ar upon request
Harris, Ferbes & Ce
Pine St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Widener Bldg.
Telephone Spruce 7040
M
lr
is j).
rw
PENNSYLVANIA STATE
TAX FREE
RAILROAD BONDS
PHILADELPHIA. BALTIMORE
t vVASHINGTON R R
FIRST
NOVEMBER 1. 1943
PRICE 92 i AND INTEREST
TO NET 4 58
1-
ALLEGHENY VALLEV RY
FIRST a
MARCH 1 '9-J2
PRICE, 91 2 AND INTEREST
TO NET J ea,
NEW YORK
CH'CAGO . ST LOLIS R R
FIRST .'s
OCTOBER "9"
R CE "0 , AND IMEflES
TO NET 4 oe ,
REILLY. BROCK & CO.
206 CHESTNUT ST.
PHILADELPHIA
IS!
Te Yield
T Mur ty Mrch 1 1M"
Wc erler I'lie Nertnern
Ohie Traction and Light
Company General and
Refunding Mortgage
Geld Bends. Series A
6r', due 1947, at
91 and accrued interest
( " .0"- rf" r -61 j hn , ,
'i r IVClt
TheNatier.nl City Company
Philadelphia-- H17 Cheatnul St
Atlantic City Challentr Blnck
1223 Boardwalk
,U
.
I lJ:-MBMBErtgJJj
2 1 WK OKI'EIt
II A Nfn Jrrr liintilpHl Hurul n
IV lint fruul riiniiliiv f mm 1 a .-
11 40 !rr, mi u It i-U In jlt-M
It la the nilinli limlll j s mil)
fnnilril ilrlil
F. P. Ristine & Ce.
Widtecr Buildicf, PbiUdtlphia
Haw Tork Elliabath N. j,
iftmkfra .Vrm Yerk ant i'iiluJatvAta
Btevb Erthane
MARKETMOVEMENT
ED
Peel Specialties Again Held the
Center of the Specula
tive Stage
Ncm erlc, Dec. 27. The market
Mflrted out this morning like n lieue
en tire, there being a general resump
tion of (he goreiiR bujins movement
in n number of peel pecialtle. with
quite a few establishing new high rec
ords for the yenr. Spec ulntlTe enthu
siasm, however, seen leoeheti n chill
in the stlffer opening rate for mil
menej". and theieferr early gain weie
net long maintained.
The whole performance wni entirely
of professional engin and at t tinted In
iendentl of outside londitlens. al
though the getietal tun of news this
morning could eiisilj hae been placed in
the constructive ontegei The tmdeis.
however, had (he game piaetlmll te
themsehes, and it was conglomeration
of further peel manipulation, profit
taking "-ulcs te clnbllsh less for in
come ta return" hert selling and op
i rations bearing familiar ftngei prints
of the Iniuiiln process, the latter nin-ueuver-i
being quite unmict ikable In
ewe of the lower-price, but known te
1h eleseI held specialties.
In ether words. It required a ionul ienul
ernble iiiuenni nt" imaginiitlen te m
t.ie'i any leiig-(hfancH significant e te
the various tiiewinents At the outlet
'Pkterdaj's leader, comprising Stew at t
Warner Speedometer. Stromberg Cav
liire'm, Iliildwin I ocemotivi and
udebnkci. rem lined at the head of the
pioce'sien, breaking Inte new high
ground, (leid bujing was nle noted
.n merican Lemmntm , Hutte and
upei ier. the siicnr mchK ami keme et
t lie !eer steel linre- It was i ailed
geed bujing betMUse the must of them
were matked reTclih from large file file
liens te l'j points.
On the ether hand, fui-nl. doted Gas.
merican Internntienil anil Mercantile
Marine preferred continued under pros
Mite, the Inst named reaching the lewe-t
price of the venr Scmie beariness ale
wn noted in the I'nn-Amerii an 1'etro 1'etre
It nm glinree lu l'ent AVe-nnsheue
ni i Meuein Petroleum, the ht
n.imed dropping 10 points.
Lai k of nggrc-Mvc support -eeii in
the preceding sessions anil a weakined
te hmcal position resultinc from the
njitd tv of th re ent nhanc among
itain industrials cetittibuted te under
in ie the position of the list as the
in nine piogressed Toward neon lln
Stiuril mnrker slimed signs of freh
i iperatire power mid i ilhed well
Commodity Markets
GRAIN MARKET I
Chicago. Ie. 27 Freh ipturn
in he v ilue of wh"at took phce today
dut ng the early dealings, higher quo que
'Vinns a' Liverpool counting as a bull--li
'.icter. Talk was nNe i urrent that'
there had been a liberal amount of e-vr-
business dune overnight He-
-idv, advices regarding the nhnernmllv
iw onditlen of the tiemestii winter
r , were a subject of emnient
I lie opening, whuh ranged from
1 higbc- with Mm 1 -t! te SI 2(!'
nnu luh 1 15 tn 1 l.""s, as fel
bwe bi a moderate r nit ion and the n ,
t .rther neiv gains
i x ami eat- were tirmet in rm
, irln with wheat and n i teUit f
- i im nf efferln::- Vfter opening
, ' RS' higher. Miv "2'3t e 7J"sC
in , rn market sr-ere 1 i '-.Wgh' addi
tii -I am am e
I in'- -tinted a -hade n '-c t" 'jc up,
Nl.ii 4."i"sc le 40c, and h'r nsien led
t '.t tin men '
Higher n letntmns rn h )?s ga a
i' "ii r r n ision isien
) r
tn
7 I.
w . i -
i I a
14 i
11'.
11'
"N
I H N
-n t ?t
COTTON MARKET
New 0rlf, Iiei J7 New tl ill loin-
' I rest t mmtnen wie estab-
-i i j n in tlii- i urn'ng when Maj
i '. '- lit ie l of 0 re J.'i
, en'- n irst st . s nt'ruted heavv
Z- i --ealiing wuii a auseii set
n - r t"" "pening Jipnn'He n-
r, - . wre hi iu nilir- ail Strett
-i - I 'I hi li :ii2 "a- bv I.ivtr-
Niw i irKiiii and -nts inteie-t
Ki n ing si is wtrc readil'- abseibed
'in in opening, and pri'ts b tie end
list tifleen niinitris had naduM
'7-:ent level for lietl. Murch ftDii
Mm
:n
p-iOni. t leiie Open
i rijuftr j 2ii 73
m . 2I 0.
J'l - 'tjs.' .'1 (i
-- i 'i i Jfl (in
n ii
n ;ll n- ii -.
1 PM
i! .,
r - 5-8
.t "-
NEW YORK COFPEE MARKET
New inil,. Di'C 'J7 -Ire ".niit fnr
T . f i epeierj Irrc; lift- v. t)
. i, 'tie all bing 2 pe i ,ewer
at n n ant e of tl pn'nt- e illative
rnzt h being nrr'-d in the f8r mea'hs
If s rn- , r
Ur. ' VSi ! ST J sj
II I u f ll
li'KifH 3,-i
4- IS?!!.
t-fii -3:?3s
- p -rr.f
DIVIDENDS DECLARED
- ii i k
. 1 tr:
n ' - " J ' r
l rr a j- ' n
p !. tl --
Mr i I -.1-
r -Or I '-
r pit 'ul h i la
1 H t I w
n-rn aniln
' - ' - 1 -!-
-r ii-n ft
ir- te'- p
', i - - r n -' m
;' 'rrt r. rr-Qrd
Nr 'i u a r r
f n te t0 iiefk
i 41
i -
n i t - I,i r'ff.l n jnr r 4 ;
prfArr 1 tch iMn' e SI r-n 1 rr, pr K 1
1 Kbr j i- 2
1 1 i-r'r 1 ir- p' ir rr
injn h' bi mi, a i-r 'en' rr
. - i-pI let r b 1 la-ri 1 tn i'0'ii
f 0! I Fel r i
STOCK DIVIDENDS
m V.irk riei- 1 Th r n Mr '-lull
1 r is 1-jc an li Hi ifr "tn' f-i in
1. k 1 viltnl ,11 ili, ir Pimmer
n 1 ilui k f I f -r!r
MONEY-LENDING RATES j
M M1KK fnnf nn ctl both rjini
ti r eind Titav , 5 Br cnt 1
i e a J r-nft in
I'llll IFII'1I1 fa'l rar n -Irr.
j .- remmi-r IkI pater, inrn te 1
riiri 5 rir i-n
I
Londen Metal Market
. liiniliiii Div i
I il I's tutjiiis
fMrilarl cidj" rn
t' ti lfis Klctrciit r
1 iii 11 nuiires 11- 1 'n pi '
s 7- fui jreii tlsfl 1J lid fd ipet
.1 ' ill fiturn 2i) 2a d Inr i
37 7a (Jd fuiurea 3 7a Cd.
BANK CLEARINGS
TUrK rlearlnfa tedar cemrartd with or er
raaiiinilln day lait two ytafa
1A22 1021 lain
CONTINUED MIX
r
, s- eiin enn r,7 nnn nna f a2 xn 7s
; n me ,nt) oeo 84 084 840
NEW YORK STOCK EXCHANGE TRANSACTIONS
Only Afttrnoen Hapert in Phlladttphia Quoting Futt Lilt
Dli
"i RIOCK
AJax Rubber ... .
. . Alaska Geld Mines
Alaska Junen.li fl M
1 SO
P. M.
Nat
fHUs
Utah
12H
U
leir
UH
54
1
7714
44 '4
3114
39 y4
4154
72J4
111 '4
185
6T,
174
6 5a
62
1051-4
25S
1114
JOW
U6
51
6S
18 7,
i5lK4
"9'4
37 .
'8 14
106
7.
b84
E6'4
122S
154
28 '4
951,
84
15S
49
324
U
n5
101 4
91
111 '
2
1'j
21' 1
1554
15 1
33',
134
114
1'a
58 '4
29U
19
49
H
M'4
58 4
94 34
597,
4
111
Chi a,
1300
1000
1300
900
600
!00
1000
4400
3100
200
200
200
300
100
600
1500
1800
200
100
290O
1100
400
1500
1000
100
500
5900
400
200
100
50
1700
100
100
200
200
100
3700
600
100
700
200
700
100
200
400
J 00
tee
tee
900
22000
100
3400
100
900
400
100
1500
300J
300
-00
3Q1
2
4 50
50
300
100
200
S300
100
1200
1400
200
600
300
100
6200
600
100
400
3900
200
1200
4100
500
1214 -r-54
1
77H4
4454
3114
40, 4.
43 !
72J4-
1 1 1 54 -
183
6?i
1714
fi'4 1
62 -
105 54
26 -
1154
3054
126 54
51
fi4
19
S5'2
99 1 4
7.
80 'a
107
-7T,
5814
56 '4
28 W l
95ii
8'a
15H
49,
32',
6"
101 ; -
91 h
111U 2 '
i's
21 '4
15',
15y '
33 '4
138 1
114
41,
58t
2954 -19
-49
i
, 14 -t-"9
-941,-6054-r
4-
111 -110J,
15
70 -I
114
Allied Chem & Dye 77
4 Allls-Chninberd .... 44 U
.. Ant Agrle Chem... 31 yi
. Ant Beet Sugar.... 404
. Am Besch Magneto. 45
j; Am Can 73 U
m i.-an pr in ,
12
Am far & Fdv 185
Am Chlcle 67,
. Am Cotten Oil .... 1714
. Am Drug Syn 6'4
Am Hide & L.ath pf 63
7 Am Ice 1 07
Am Intcrnat Cerp. . 26'4
1 Am La Prance Kng 1 1 V4
Am Linseed 30 yj
Am Locomotive ,..1271
S Am Metaltt 52 H
a M Safetv Ka70l . 64
. Am Ship & Cem
Am Smelt . ...
It
55'
99
37',
ni
107
Am Smelt pf
Am Steel Keundrlm
Am Sugar Tlef. . ,
Am Sugar IW pf
X
.-itn Hunuura . ; 'a
Am sumatia Teb pt SB'
5 Am Tl f. Cable . 56 J4
9 Am Tel A Tel... 12T4
1-' Am Tobacco . .154
Am Water vtuke . 29 1
7 Am Woolen . . 95 U
. Am Writ Paper pf. 28 '4
Am Zinc Ld A Smelt 15H
Anaconda Copper .. 50
Ann Arbei pf . 3414
Assets Idealization 7,
sse Dry Goods 63 S
6 Atch Tep A San Ke 1 01 "
B Atch Ten A s F1 nf 91 v
Atlantic Coast LlnalU'a
Xtlantlc Fruit
?
Ulantle Fruit ctfs
1'
ii uuir A w I S s
At O & W I S S pf
2154
15',
15,
Alias Tack Cerp
Austin Nichols
33
Baldwin Locomotive 138
Baldwin Loce pf...114
Baltimore & Ohie..
Haiti A Ohie pf
Barnsdall Class A ,
Barneuall Class B. ,
Bayuk Bres . , .
Batepllas Mln . .
Beechnut Tucking- ,
42
58
29 a
19
49
H
. 51 14
. 59H
t t)A7i.
41
neth ehem Steel . .
Beth Steel nf new
Beth Steel B 60 14
uoetii nsiierles . . 494
Broekhn Kdlsen ..112
de odd lets . .. .1107,
Bkljn Rapid Transit 15?,
1107,
I5i
70
13U
58
50
145 '2
43
9W
324
175a
7"
65
9'a
57 '4
143'2
?0S
67
43,
64
71
102';
2
3 '4
28
4
85a
204
31 'J
79
114
31
82 H
9154
-6,
26 H
66
'5',
-5'a
1044
2
8
e9S
39'4
116',
58,
IS
H'a
11 'a
19'
b2"H
69'e
2e
101
M
19 Vt
1U'4
'25
43 1
1324
53-4
t0
901,
10
14
91 s4
49
8',
.03
97'4
12 '4
'9'2
67',
47
78',
81 a,
185
11
13
83J4
as;;
97
98 1 ;
4',
334
83i4
'5!4
12'.
77
30 5,
nut Km Steel 1st pf 70
Bklyii n T ctf
13,
13i
58
. Brown hoe
4 Buff A Susq pf . .
10 Burns Bren A . ..
1 Burns Bres B . . .
. Butte Cep A Zinc .
2 Butte A Sup Cep...
. . Butterlck Ce
Cadde Cen GAB .
, t allfernla I'etre
. Cal Zinc and L-ail
2 Calumet . Arizona
10 Canadian Pacific
. Central Lcathei
. Cen leather pf
. Cerre-de-Pasco
6 Chandler Meters
58'
50
146S
43 ,
9'
32 3
17-,
7S
661,
9,
57 U
144 '5
32",
68
44 !-,
65 ,
- 2
50
145'2 -43
9'4
32'4
17'-2 -
7 a, j
654
954 -
57 y -
1435-2 -20
, -67
-44
-654
71
1021, :
2 -
28 -4
-
8i -20!,-
31H
79 H -5
113
31 Vt -82?,
i
91 54-25J4-26S-664
-75',-25
4 -
104',
2 4
8
69 44
39'; -
1 Chesapeake A Ohie,
i 'j
200 6' Chejapeake A Oh pf!02
1100
Chicago A Alten. .. 2
600
500
400
1200
2700
5200
1100
930
3700
200
5 00
11200
1100
700
400
300
100
700
100
400
400
100
2100
3400
9300
6100
1300
800
'3600
1600
3200
400
300
2400
100
'900
505
700
100
300
2200
1800
1700
00
' 400
900
700
200
600
000
200
400
200
800
300
3200
100
303
'00
tee
500
800
300
500
I'OO
4 00
?C0
'300
00
1000
800
600
FOO
POO
100
eoe
300
1300
3200
00
tee
100
100
00
3 CO
?00
2400
4300
1600
f,0
200
800
3500
100
300
100
200
300
300
4100
100
4400
2100
100
100
'OO
500
8500
Chicago A Alten pf. 3H
Chi & B 111 28
Chicago A Gr West 4
Chi A Gr West pf . . 8'
Chi Mil A St P. .. 20
Chi M A St P pf .. 32 H
5 Chi A Northwestern 79 ",
7 Chi A Northwest pf 1 15
Chi II I A Pac 32
6 1 hi P. I & Pc 61",. pf 82 i,
7 Chi P. 1 A Pe l''e Pf 91 4
Chile Copper ... 27 5,
Chine Ceppei .. . 26
Cluett-Peabed . 66 4
ti ("o-a-Celi 76
'"el fuel A Iren . 26
0 i elum 'las A Klec 104 '3
Celum Graphophene 2',
Cel Graphophene pf 8
t- Cea put Tab P.ec . 69 '
Consel Cigar . 39 J,
Consel IMs Irr 3,
S Conse.iuated Ga .117'4
Cen Ga of N Y w 1 8 H
1 'en Gas rt 1 a,
fonsel Textile 1 1 ',
Certlnental Moteis 11 H
t. Cern Pred Re 129?,
4 Coden A Ce . 53 a
Cruc ble tetl 70 4
1 uban Am auga' -6S
7 1 jbai Am Sugar pf!02
1 iba '"ant- Sugar 1 4
t iba Cane Sugai pf 40 5,
' I'elawjre g, Huden113'4
n Del Lack &. West 128
-' Dem Mines 44
x Lu Ien E I) Ce154
11714
58 4,-1
IS
114-
11'a
129', -53
H-,
69 2 -?6
-
101 1; -144
'
40 11354
126 -43
a -
154 1
554 T
?0 -90'4-10
-14
-91-49
-
ej,-
205
97 ,
-674
48 4
78 54
81 '4 -
185 -115.
13N-:
83 ? -83
5-2 -97
-
935;
44
33'.
83', '54
12 la --7
4
30 80'4
Ha
-I H-
25'4
112 -
LI S e-agf Bat
i:i, Hern real .
Lndu'Jtt-Johnen
55 ,
20 '4
91 -a
Id,
14',
Ti
Erl
Trie 1st pf
Ka-r.ejs Plaei I.
Ot lj
0 I id Mln A smelf pf 0
Fifth Ae B Sec I 9
11 ribher Bedj 205
S richer Bedy of O pf 97 4
Fisk Rubber 13',
rrerpert Texas 19
3 Gen Am Tank 67',
General sphalt 49s
s ueneral Afephall pf 79 12
General 1 sar 81
1 Gen Llectrlc ... . 185
l Genl Klee spixitl pf 1 1 'a
., General Meters . 13',
h General Meters pf 83 2
f; Gen Meters deb 6 83 J
7 Gen Meters deb 7 97
7 Glmbel nres pf . 98 u
Goldwyn Pictures 5',
Goedrich B r ,4.,
- i.oedrich II K r' 83 z
Granbv Mlnlrg 5 '4
Jrav i DaMs 12'i
I Great Nertberr pf 78 '4
1 Grt North Ore ctfs 30
GJlf StAtes R'el B04
Hablrahaw Klc 1
Housten O 71 i
2 Hudsen Mote- far 45 fc,
1 Hupp Moter Car 23 H
Hjdrnulle 8tel .. 3'4-
7 Illinois C-ntral ... 112
C 11. Cent pf A. .. 1 1 4 4
Indlahema Ref ... 1314
Indian R"flnu 1 .. 6U
Inspiration Cen Cep 3B4
lntei Cen Cerp.... H
Inter Cen Cerp pf '?
Inter Rap d Trsn . 18 H
Inter Agrle pf. . 30,
., Internat ' ement . J5
j inter Cem Lmr 247
Int Great North ?2?,
, In' Han ester new 90
rn'r Mur Marine 9 ,
3 In'er Mr Marine pf 43 ,
Inter Nicks! t'3'it
b inter Nickel pf .... 65 V.
International Paper II i
n 1 1 'ble Oil Cerp MH
Island Oil ,
4 Jers Bres Tea... 63 H
7 Jenes & Leugh pf wi107!4
Kan city A Seuth.. 19
4 Kan City A Se pf f4
Kanas & Gulf.. . ' S
Kanei A Ce new 4 2 J,
Kelh -Springfield 45 ,
h Kelli Spg T B-e pf 82V4
8 Kennecett Copper 36 '
Keystone T & R.. 9
7 Kresge S P . 182
7 Laclede Ona of 9t L 82 '
rjje Lrle A West . 34 Vt
2 Lee Rubber ... . 26 !4
Of,
-5 4
H
2
41,
3
,
I'S
1144,
13
- 1
6 54-
'4
"7
8 1',
'0t,
18!4
30',
J5
24,
22, 'i
90
9
43 'i
4i4
'2',
0
B'
42',
'3 54
03J4
'Hi
"4
53 H
107 yj
19
54
IH
4214
44H
8? '4
36,
A54
182
B2'i
34',
'6
'0
- I
134 -
65y,
ST Is
'4s,
H
33 H
107 J4
19 54 -1
-42',
45 H
82 4 '
J64,
84
182 J-
B2 54
34)4 -?!4
70 j
i;
Lehigh Valley . 0
Raw Sugar Active and Steady
New lerk, l'c J7 -Tha rw imr rnat
,et it talrly active and atsady with Puta
rir ftrpt hi if January ihlpmant qweil at
de cjit and frataht and fur ,K-en3 half
January ihipmunt Bt 3He eon and fralKht
In addition te the hiU of 31 COO ba,s Cuba,
for prompt and early Januar aMpmtnt at
8V. c coat and frelKht te th National Busar
llnnlna- (-etrrany an oparater acqulrad
bOOO baa-, for ihlprr.snt In Itr flnt halt of
Kabruirj at 8V4c ni5 frKIt rtx to te
eal raflntd rnarkat la nnehaemd en tha baiti
of 7c It,, par cent for rah
New Armour Company Chartered
Iteier, Del,, Uec 27 Ina cartlflrate for
a chartar for Armour Ce of Delaware
waa nd at tha efttce of tha Btcretarj' 01
htata hara tedav, Tha cempanj la cap
Italtiad at 1100,000,000, and Is
theritad te deal In rattle and llveatecK
of all Iclnd, The Incnrporatera namee.
In tha eertlflrate are A M Hoevtn. M. A.
Ilrnca nnl H M Anderien all nf Wil
mlntttaap. tal. Identified with tli Corpora
tion Trust Company of America, which
drew tip the Incorreratlon paptra
t 39
r. m.
Sales
T.OW
117
594
19,
1644
133,
58
61 14
3014
354
48 54
821,
3714
45
284
104
281-4
4954
15 4
67J,
290
164
16
114
.'6 4
27 4
6
83
144,
39
15 54
424
22 ',4
184
104
11!
36
66 'i
1254
ft
16
84',
26
48
9514
20,
23
1854
12
13',
111
964
44'4
75'
94
6 4
1a
184
155
84
45
36 Ta
104
H
87
4514
914
85
4',
4614
2;
9314
36'4
40 4
96
464
124
4
354
15
59
91
33
35
66
824
99 4
454
91 14
106
130
48
26 4
994
116
14'4
8054
53 54
22 ?a
46 1 4
8554
48
116',
53
214
374
20
56
24
19
14
5
84
87 '4
7 '4
38 ,
12'4
314
98 4
9 52
39
88',
24 4
20 4
84 M
1184
39)4
11714
85
2
74
68',
1495a
6H
44
294
14
47 4
59 4
i0 4
20
14,
129 4
32 4
35 4
62,
63
14
136
75 4
129T4
3
81
153
11
714
27 54
9 54
3 4
67 14
974
85
324
97
37 54
10614
1204
55
109
64?,
154
324
24 4
63 5,
16
154
64
23 54
12)
113
11
23
200
000
600
100
100
200
400
600
3400
TOO
100
1100
100
1800
100
100
700
2300
;oe
100
1700
1400
2200 1
600
300
700
100
600
100
1600
1200
503
2000
1000
200
5200
100
300
700
1400
300
CI 400
400
200
2500
200 :
2100
100
100
600
B? 800
100
1700
600
200
1600
1700
200
2600
200
1000
700
600
400
5100
2690O
23700
1100
1500
1500
100
1500
300
100
6100
400
500
1200
3900
3100
200
600
9700
600
100
100
22900
1500
100
1000
1800
2700
200
R200
1300
4700
100
9300
3800
1300
700
300
2400
1600
tee
Dlr.
lnS STOCK HUh
7 Liggett & Myers pfl17
4 Lima Locomotive ,, 5914
.. Loewa Ine 19,
12 Lorillard (Pierre) .1644,
7 Louisville & Nash..133J4
. . Mack Truck 56
.. Mecy A Ce.... 61
. . Magma Copper .... 31
.. MAlllnpen Ce 3614
. . Mauatl Sugar 48 14
117
1644-1334-56
-b14
1-304-36
54
48 54
-28
H
10)4
28 4
504 !
154-
H
4
4
J4
4
4
154
7 Manatl Sugar nf
8214
. Manhat Kiev etfi . .
.3 Manhnt Shirt
4 Marland Oil
Marlln Rockwell . .
2 Mat tin Parry Cerp.
. Max Moteis Class A
40,
45
28 H
104
28 H
IK
m
54
54
1
50 54
Max Meters C ass B 15?,
(' Mav Uept Stores... 674
2 Mex Petroleum ..290
2 Mev: Seabeaid .. . 17 4
2 Mex Seaboard Oil ct 16!
674 -
290
164
16
im
26)4
27 'i
b
83
14.
39
154
44
22 4
184
11
114
16
664
125.
?4
16
85
27 '4
41
s
254'
4
4
Middle Slates Cerp
Mldale Steel
- .Miami ceppei
Mln A St LejIs
M St P A S S M pf
.Me Kjh a Tex (wl
114
?7
.-7 4
6 4
83
144
Me Kan A T (wl) pf 39
. Missouri Pacific . 16(,
Mlsseuil Pacific pf. 434
Montgomery Ward. 22 J4
I Moen Moter Car... 18
a Mether Lede Mining 114
. National Acme . 11 '4
! Nat Biscuit wl . 36'4
8 -N'at Kn A Stamp 66 ;
8 National Lead 125i
N'at n R of M "tl nf 2 7.
4
4
2'i
Nev CenC epper. .
6 V O Tex A Mex .
-N Y Air Brake . . .
4 N Y Air Brake A. .
B N Y Central
. New Yerk N It A H
1 New Yerk TJnelc. . . .
16
85
27 4
43 54
96 4
20 H
4B
!i6 i-20?4-23
-184
-12
-134-1
1 1 54 -P6
54
44 54-734-
9
6 4
14 !
194
155
8H4-
45 -374
10)4 ,
874-4614-93
4
87 -
44
464 27.
93J4
374
40 -96
464
13
4 -374
55)4
39J4 -91
-33
-"6'.
60
825 -
23
2 New Yerk Ont A W 20
N Y Shipbuilding... 12
Norfolk A Southern 13Ti
Norreik ft WcsternH2a
34
1 North Amnrlran
97
3 North Atner pf . . . ,
n North PaclMe .
4 Nunnally Ce .
. . Ohie Bedv A Blewei
.. Okla Pred & Ref . . .
Orpheum Circuit .
444
75',
9
R4
19,
155
. 85,
. 45
. 374
. 104
. ;
utig Elevator . .
.. Otis Steel
Otis Steel pf
2 Owens Bet Mach..
. . Packard Moter . . .
. . Pacific Dcvel Cerp
6 Pae as A Elee
'
54
14
14
88
.3 Pacific Oil 464
R Pan Amer Petrel .. 93?,
8 Tan Amer B 87
. . Panhandle 5
S Pennsylvania R R.. 4e'4
. . Pcnn Seaboard Steel
6 Peeples Gas Chicago.
Pere Marquette ...
3 Philadelphia Ce . . .
7 Phllllps-Jenes nf . .
24
93 4
37 H
40,
Hi
I
' '4
'4 i
ft'
U
54 !
154
U4 !
14
4
14 '
H
96
j rniuips Pet 47 4
.. Pierce-Arrew Moter 13
. Pierce Oil 4 4
. Pierce Oil pf 37 4
4 Piggly Wlggly Stere 55',
. Pitts Ceal 60
7 Pitts Steel pf 91
Pitts A W Va 33 4
14 Pend Creek Ceal... 37 4
. . Perte Rice Tobacco 66
. Pressed Steel Car.. 82i
7 Pressed Steel Car pf 99 54
.. Producers A Ref... 47
8 Pub Scr of N J... 9252
8 Pub Ser of X J pf.106
8 Pullman Ce 1304
. . Punta Allegre Sugar 49
2 Ture Oil 27'.;
8 Pure Oh pf 99's
8 Rallnai Steel Spg.. 116
. Ray Cen Copper... 14',
4 Reading 8IH
2 Reading 1st pf... . 5314
.. Replegle Steel .... 234
P.epub Iren A Steel. 47 3i
Republic. I A S pf . . 87
3 Reynolds Teb B.... 48
7 Reynolds Teb pf. ..1164
4 U Real Dutch NY.. 5314
. St Leuis San Fran. 214
. St Leuis S rran pr. 38,
.. St Leuis Southwest. 29
6 St L Southwest pf . . 56
S.in Cec Sugar. . 2Jj
Savage Arms . 19
. Saxen Moter .... 1 '4
. . Seaboard Air Line . 5
.. Scab Air Line pf . . . 6 4
. . Sears-Roebuck . . 88
.. Senecu Copper .... 71
99 la
ti
47'
92 -
106
130H
484 116
144 -f
80 J-53)4-234
-:
474-1
87 -
48 116)4
53 i 1
214 -37
4
?9 56 -?5i
r
19 14 r
3
8 4 J-87)4-
74
38 13
32 4 .
98 ' t
4
39
89
25
0 4.-
84 -'r
119)
3954-1174-
85
624
2
'4 4,
68 54
140 T
CjS,
4A
294
114
47 4
59 4
20)4
20 4
15 4
129T,
32 4
6 4
-14
54-1
1364
54
H
H
S
',4
'4
"2
1
4
14
H
4
100 .
200
300
900
200
200 .
400 .
700 .
1200 .
300155
14
4
14
4 Shell Transport .. 38'
'a
H
3i
2100
9200
400
1200
100
1500
1100
1500
100
2100
6200
500
300
100
300
3800
5600
27500
2400
BOO
600
100
4200
600
600
3700
600
2200
700
700
700
100
11300
1300
100
100
500
100
200
300
2100
1000
200
1200
4200
300
1400
3400
300
100
5200
200
100
100
1300
100
7300
50O
100
900
1900
1300
2300
100
400
200
t 400
200
100
100
300
700
800
1000
800
8200
300
100
1300
. Shell Union Oil . . .13 4
2 Sinclair Consel . 32 ,
8 Slnclali Cen pf . . 98 4
. . Skelly U 1 94
.Sless-Sheffleld 39
6 -Southern Pacifle 89 4
. Southern Rail . 25 4
, . Spicer Mfg 204
s Standard Mill . .844
4 Standa-d Oil of Call 19,
B Standard Oil of N J 40
7 Stand Oil of N J pf117H
T Steel Tube pf... . 8554
4 Sterling Products . 62 '4
. Sterling Pred rta . 2
4 Stewart Warner Spd 77
14
4
4
54
4
4
4
4
Stromberg; Carb 71
Studebaker ... 141 4
Sub Beat Cerp .. 654
Superlet OH . . 4 4
Superle- Steel 29 '4
Sweets Ce of Amer 1 4
Texas Ce 4J4
Texas Gulf Sulpbui 60
Texas A Pacific 20 4
Tex A Pac C A O 20,
Third Aie ... . 154
Tidewater Oil . 129 4
Tlmken Rell Br.. 33
Tobacco Products . 56 '-i
Tobacco Pred A.. 83 ?
Tel 8 L A W 63
4
4
"2
4
4
4
4
4
-W
H
Transcontinental Oil i4H
10 Union Pacific
137
Union Pacific p'
754
129?,
34
81
155
11
75J4-
129J4
34
81
1534 u
11
724
2BJ4 85
534
97
37 54 r
106)4
1204
53 .
109 -64)4-15f,4
34 .f
244 b34
17 '
154 :
8 4
23 4 1
12 54 -
113
11 -23
7 Tnien Tank Cai
2 United Alley Steel
United Drug .
4 United Fruit
United Uwy Invee'
United Retail Stere 73
U S C I P A Y& 2B 4
6 V S C I P & Fdy pf 094
U 8 Feed Products 4 54
U S Ind Alcohol.. 6914
7 U 3 Ind Alcohol D 9B
( U S Realty Imp.. 8514
U S Rubber 5 J 4
8 U 8 Rubber 1st pt 97 54
, . U 3 Smelt A Kaf . . 37 4
1 U 8 Steel 1061,
7 U S Steel pf . . T204
3 U S Tobacco,. . . 33
7 U H Tobacco pf 109
2 Utah Copper 65
Utah Securities 15',
Vanadium Cerp 3414
Va-Car Chemical 24 4
Va-Car Chem nf 63 4
Va-Car Chem B 17 4
Vlvaudeu lne , . . 154
Wabaah . . . . n H
Wabaah pf A... . 74
1 Weber A Hellbrener 12 54
7 Western Elee pf. 113
Western Maryland 1 1
' ' W Maryland 2d pf 23
, ' Weartem Pacific . 14 4
A Weatem Pacific cf 32',
7 Western Union 11 111
.. Tir.-ilnhnllU A Ii . Ill
w
4
H
4
4
54
"4
4
4
Ha
1
14
14
H
154
14
4
4
H
1474
524 i'524
111
111
111
111
60 4
84
26 4
48
24
24
11
364
218H
314
4 Westing E A M.
Wheeling & Uju.
2 White Eagle Oil
4 White Moter .
White OH Cerp
'.' White Oil Cerp, 5
, Wiclcwtru Spenc "
Willya Overland .
60 14
8',
27
4B
24
2 54
11
60 54
84
27 48
IS
11
37
2164 -i
314-
04
3;
217
31 H
400
300
300
, Wilsen -"
. woelworth W
Werm vuiiip
E dnldanO.
Prices Eaay en Paris
Parle, Vn 27 Frleea were
niura today Thrta par cent
trane, 2 centlme. axchanaa en
trance 90 centime,; nva par
franc, 05 centlmea. The dollar
at IB fran: 76Vi centlmea.
BAR 8ILVER
J lax alUer wm 1-114
et SO lM8d
hit-bar
LEH. NAVIGATION
LOCALFEATURE
Lake Superior Made New Lew
Recerd en Income Tax
Less Sales
Nat
Chi.
4
4
54
4
U
54
4
4
4
114
34
1
l.elilgh Navigation was the ihief at
traction of the local market, making n
new figure for the current movement at
170. White this quotation " -"Hi
points under the high of Hie yenr. it
nevertheless showed n gain of practi
cally 1(1 points from the bell 0111 price.
The advance was mnile during the early
trading and was influence! le a lnige
extent by tensen of garbled leperts ton ten
cernlng a Hpetlnl dividend whith. nc nc
lerding le the miner, would be dei lined
this nfternenn. Intel ests umnlly well
informed lint no knowledge nf nnt such
ncllen being lentemplated
The incidenl t,erved le bienk the
monotonous idle dtifl l the mniket
but failed te Incite am freh spei illa
tive nativity elsewhere. .t te Le
high Navigation. Lain. Superior steed
out bledlj in the making of a new low
retold at 4!li. This decline wns mnde
en relative umall effeniig" and hed
ercrv nppenrnnce of furlhei Miles te -s-tnblish
losses for Income tax puipefcef.
Although Hip pihe nieu'ineni was
lagged and uninteiesting. the most of
the ether local shares maintained a
fiil steady lone. However, the vol
ume of business wag net sufficient te
give any decided ticnd Fractional
shading occurred in U. ti t. and P.
R. T the latter jieldlng le 110, while
the former leceded te 51 3i . American
(5ns, American Hallw.nn, American
Stores, lluffnle and Susquehanna pic
ferret! and Union Tiaitiiui lemnined un
changed. liiBuuinie Company of North
America ndvented ii points, te 45, en
light t impactiens. Cintups lest Va, at
B0, und a few odd lets of Northern
Central tame out nt 71. or n '4 point
under the previous sale.
Bank officials testified te a slight
hardening of inenev lates, whicli wns
gencrnlly regarded t-eaenablc in view
of the preparations being mode te meet
the .Tenunry disbursements nnd Kettle
mcntH, usually the heaviest period of
the yenr. There linn been nn increas
ing pressure for funds nnd ciedits from
lemmeicinl beuicerf. In fnct, most of
the hanks had quiie an enthusiastic
display of heartening tunic new a ftem
all sections of the country.
-10
1
1 1
4
4
4
14
4
4
4
5a
54
4
4
4
14
2
4
l!i
Philadelphia Stocks
it
14
Net
chg-e.
High
00 Am Gas., 'u
80 Am htrs..Ljj
e0 Huff & Sus
t c pf.... .VI
inetflcn Asph. 4S
1C5 In Ce N A 45
40, Int Nickel li
185 Lake Sup. 5
047 Leh Nav.. 7B
lOOfMarl'd Oil '-'84
SOOfMex Seabd
Oil ctfs.. 16'j
40 North Cen 70
473 Penn Cent
Lgt war. J j
809 retina It It 4G
OOPhila Ce
cum pf.. 42
240 Phila Elcc 31T
201 de pref.. SI s
022 Phila It T ,10s
14
14
4
i;
1
1
1
4
H
14
J.
28U-
1'...
70
4
1 '
4
4
4
4
4
14
14
0
iCR W
;isy I'luia Tiaf t
100 l'hiln & V
lOOfl'ierce Oil
eOtllav Coux
lOtltep Sleel.
555 i Texas Pac
C A. O
lOOTone Mm.
50 UnieiiTriii
120 Ufil, . .
!K1 de pref..
20 W Cramp
S
4J,
15
2.".',
2lj
l
40'
52
50
204 20 U
40
51",
5ti
50
;5ij
40
51 V
50 .
& ens
50
20 Yeik It pf 1151
.Net cliangn made by comparison with a,t
Tie en New Voik Stock Eichanra
riIILIEI.riIlA BONDS
KXMH) Libertv 2d 44s '4L. US 30
'. 1
'0lMl Libert 3d 4,4s '2b... llJ OJ
1 10(100 Libertv 1th 4'is "28.Jels 1)3.74
' P.OOOl.ibeit.v 4th t'is "2S. . . OS. 72
2000 Amer (Jna & Electric ."in. 804
200 Amer (Jas it. Electric 5s. ?i;
JO00 Elect! le K leeple'H 4s.. fiOV,
1000 Eler tilt & People's 4s t(i.,
4000 Lake Superior inc fis lets i4
t 1000 People's Pass t i 4h. , . 71
! 10000 Phila Ce tens 5s.... nm,
, 1000 Phila Electric 1st 5s... nfii"
j 2000 Phila Electlic 1st 5s .lets ),
200 Phila Elertnc 1st Bs . 100
11000 Phila Electiic 5is.. 102
4
4
3 4
4
4
24
3.
I FOREIGN EXCHANGE
' Nerw Yeik. Dec. 27. Opening for
eign exchange today disclosed n 'Inrp.
chop in francs and hie with the lest '
' of the list muili easier than the doting I
'quotation of Iuni night. Tradeis as-1
cribed the situation largely te specula- !
tien explaining that the market vtasi
heavily overbought, and heme the ic- '
jiutieii but the ntiimnl sequence.
H
2
j. 4
4
4
14
yuotatienB: Mteiling cables 4 04",
demand 4.63 ; franc cables 7 25,
checks 7.24; Helgian tables 0.00, checks
0.ft5',4 ; lire cables 5.00. checks 5 OS'
Swiss cables lS.tlU, checks
IS ll I.
J 5 75,
20.71 , '
10 03,
20 tA , ,
T) 7?.
peseta cables 15.7 1.
chei kb
checks
checks
checks
checks
Danish cables
Nerwav cnble
Swedish cables
20.76,
10.08.
20 03,
30.78,
1 guilder cables
I mntks eistj
Exchanges in the Central European
tnrea today were inegulnr with the un
dertone mainlr easier. (Srcek", Serbian
and Csecho-Slevaklan bills showed
sharp drops nnd the rest of the list
14
4
4
4
44 moved down slightly in sympathy. Quo Que Quo
4(tatJens: Bulgarian. .75; Rumanian,
4 .50i : Serbian ;, 1.11; Greek. 120;
Ciecho-Slevaklnn, .'1.12; Juge-Slavlnn,
54i27'i; Polish. .0057; FlnnlRh. 2 .VI
Aubtrlan, .0014; Hungarian, .00U43-
2
I
The rale of premium In Montreal te
1
iday en fsew erk funds was 7-,
a nei-
54
cent, rhs dii-ceunt en Cnnndinn funt.-i
114
54
4
4
'4
4
4
4
'4
In rsew ierk was 'a per tent.
TESTS.RDAT ! CLOSING QUOfAIIONS
Stfrllni Prancs I.lre Qulldtra
nfmand 4 CMC, 7 S7 5 124 R tij
Cable, 4 tj4 7 HH li 13 a Sil
TODAYS OM.MM1 QCOrATIONH
Sterling Franca I.Ira flulliltra
BamaniJ 4 118 7.J4 ft.OS'i 1173
Cablt, 4 cllH 7 2S 6 OB H 7s
RAILROAD EARNING8
NEW YORK CENTItAI.
Itieludtnar Olile Central Until
I t .. 1022 lnamM.
I Nevambar freaa I36.8NB.112 tTaeaiiin
Nat epar lne . . 6 98 HSR 821071
' Kleian me, treia 32 143 8B7 1(1 j je.2114
I Nt or Ina 46,084,288 lK),ajj
'NEW YOnK NBW HAVEN AND IIAItr. '
I FOItD 'www.
14J4-
-
November areis .. .110.911,81)1
Net after taaaa .. 1,828.987
I
JB71.4n,l
. '178 in;
,5 K38 2-,8
18 072 .M
1 Net epar, Inoeme , 432 311
1 eleven months' iron 112 420, 07J
I Net after tana. .. 17, 277,001
Nat eper. Income . 11, 414, 41 J
- aie
4
14
NORFOLK AND WESTKItN
N'evember reaa , 10,710,21a 22i sa.
Net eper dertcll. 170,1)27 2 002 7BS '
Eleven mentha' ren 83 883 000 IISi:.",Tl
Net eper. Income., 17.BS1.7B1 n 210 flta
I1ALTJMORJ3 A,D OHIO I
Beura
1 Vevember rreee 110, 84H 040 11 fii B
eiv.Hin ci4ci ,i iic 9in
. 8,OJ4 078 I 617 47"
. 17t(,MM,ln4 8 228 -h 1
. 18.808,480 ! 003 818'
eaey en ilia
rintM
Ixinden, 68
cent leati, 78
waa quoted
Kltnen mea iron,
Nrt uper lne
Dacreaaa.
ASK1M1 MORE FOR COAL
. Increaelnf demand and decrea,ln auDr,K
In. rajrda are raipenelbla for higher retail
prlees In aeme Inetanree. A careful watch
f condition, n the coal trade In belnz 1 .L,
br trained corraapendenta of the Bualkaai
feet en or the I'ualic Lepage. '"Male" ?, I
VaTaltit-"a A rft
In LoaAen
Habit.1
.4
ifMKTYk
!rZf2wrim j
JEanv iiw.4Uaiafi- i
f
If you are one of these
fortunate people
vi
who are receiving money from WAR SAVING
maturities or from Christmas gifts, why net
start a Colonial Savings Fund Account and
have that money earn '
4 per cent.
The Colonial Trust Ce. is located in the centre
of things.
It is open every evening until 11 for Deposits
and New Accounts. It offers you the utmost in
safety, convenience and courteous attention.
Step in and talk it cmr!
The Colonial Trust Ce.
Member Federal Reserve Szstim
13th & Market Streets
An Endorser for
Every 1923 Debter
Wouldn't you like te have such a factor in
your business throughout the entire New
Year? Yeu can simply by taking out one of
the American's Policies of Credit Insurance.
Yeu knew that a premise te pay, be it ever
se geed, is improved by geed endorsement.
The principle of collateral security for leans
is as old as business itself.
Your credit extensions are leans in the form
of merchandise. Credit Insurance is collat
eral security for these leans. It is an en
dorsement of your customer's premise te
pay. And it has the great advantage of be
ing secured without his knowledge.
Yeu cannot fully appreciate the unusual
service rendered by Credit Insurance until
you let us show you the full facts and figures.
Ne obligation. When may we call?
Credit Insurance Exetujiiiify
AMERICAN CREDIT-INDEMNITY COt
or NEW YORK J.F. MCFADDEN. president
"Amtrieanizm Your Credit"
PHILADELPHIA OFFICE
N. W. Cor. 10th nd Chestnut Sts. Phene Filbert SS02
W. J. MORPHY, ManaBer
ARTHUR GOLDSMITH ALLAN EARNSHAW
General Agent Aeaeclate Gen'l Ait.
City of Philadelphia
3Vit
Due July 1, 1934
Inventors holding U. S. Liberty Lean 3, due June
l1?, 1947, subject te redemption June 15, 1932, at the
option of the Government, can increase principal and
income b exchanging their Liberty 3js, selling at
about 100.50 and interest, for City of Philadelphia 3s,
due July 1, 1934, selling at 15 J and interest. These
City of Philadelphia 3j4s in the hands of investors are
as fully exempt from all Fedeial Income Taxes as the
Liberty 3js
Biddle & Henry
104 Seuth Fifth Street
Philadelphia
WE WANT OFFERINGS OF
Girard National Bank
Fourth Street National Bank
Central National Bank
BARNES & LOFLAND
147 S. 4th St., Phila., Pa. Tel. Lembard 4172
.