.,. ' V -v ; i .M.v'tssj.f.jjwi'Vf ,"j"'' "'' v'jVa l -i''' ft ft i "t : r K i M)$ ill tf . b I- i; ! If 1' II. , mm 81 Y II 1 It ;M S V! m . Bl il' fiW fe Wi ' 22 Service nnd Stability Starting the New Year I wmm "I'SAMF BlfflKINfi ,; IRREGULAR TREND EVENING PUBLIC LEDGER- PHILADELPHIA, THURSDAY; DECEMBER 28, 1922 NEW YORK STOCK EXCHANGE TRANSACTIONS Only Afternoon Repert in Philadelphia Quoting Full Lilt by opening nn account with us will prove te be n satisfactory nml prof itable resolution. We offer the busine'i man n bunking service of proven worth. The ad-' vice en business-liankintr subjects and the banking facilities we offer should be well worth considera tion nf this institution ns em depository. We wi-h V'ii all a Happy and I'n -porous New Year. Integrity Trust Company Fourth and Green Streets Capital $500,000 Surplus and Profit . $1,900,000 E. H. Rollins & Sens I mindr-il tM Investment Bends 1421 Chestnut St., Philadelphia I'linne l.mitt Petion .'" '' pii-" Haiti i .. i 'u . - r e Adirondack Power and Light Corporation First & Refunding Mortgage Series of 5s, due 1950 The p"-ep.Tt nf t1'!. Ccnrinv reprrs-nt a r-'ph Tn.n' vi'if f eer I ie ii i.l m'-M ifwr bend euttir :inn -wi v" ".i ii' y .ire ever tsii- s int)'- bend i -terest (. i irys Price 96 3s and Interest Te Yield 5.75, n EQUIPMENT TRUST CERTIFICATES BALTIMORE &. OHIO R. R. 5s AUGUST 1. '9:4 PRLE. TO NET S.05- CHICACO, MILWAUKEE &. ST. PAUL RY. JS JULY -5, 19:8-13;? PRICES TO NET 5 25, ATLAMTiC COAST LINE SYSTEM CHARLESTON . WESTEPN CAROLINA RY 6s JANUARY '3, 932-,934 PRICES. TO NET 5 65 REILLY, BROCK & CO. 30G CHESTNUT ST. PHILADELPHIA A Coupon Every Menth T HE investor e. "iru :iv fallow inn Kin J hoi:.J receive a (.oi.peri every month in the c: Atlantic Refining : I J Seu. Calif. Ednen " " U West Pcnn Peucr : MiS Leuuville & Nash. j AiO Hershcy Chocolate '0 M a. N P. C. C. a: St. L. JiD ' . " ?Jl3 hj' A purchase of these Bends will com you approximately $5835 and accrued interest. '.Graham Roberts & Ce. Investment Bend. Franklin Bank Building Nearby Penna. Municipal Tax Free in Prima Exempt from all Federal Income Taxes Abington Township, Pa. Scheel District 4 ' Borough of Narberlh, Pa. Playground 4 ' PartirularH n -l ii i r e i A. B. Leach & Ce., Inc. Inrcs'mcnt S '. n'n - " 115 Seuth Fourth St. MORRIS J. ROOT Certified Public Accountant Lafaytt Building, Philadelphia Bidding Up of Selected Special ties Utilized te Screen Dis 1 tributien Elsewhere New Yerk. IVe. iA The e.mfuiii; irrrsuliirltj iitfeinlim; the price move ment nf tulm's Muck iimrKei enrrieil "itli it pnicllenllj n,. sipnilicnnee what 'Mr, Inn it 4erei t.i further emphasize the piirpeM'les.4 ,rift ,,f the current Mieeiilntiiiii. Much like the priTedlliit m-mihi. there ith ilithu't iliviinii j in the npcrnttniik. The Inrcer mnjnrity I I'liblJ lmu'eil :i ibiwiiwni'll tletlll. wlierm in the two preeeiliin; iln.s (lie l.ircer itmnber elilhltiil nil opposite' telidenej. Snles te e-tnlili-!i le..es for income i i. p'lrpever en me in hirer r ehime. I 11- this l. the In-t ilnj nil wh.ii h hoe i ib's e.Mi he m:nle i e-pf fir en-h for, 'llle tn let uril nf IP-'.'. I.iillicll- 1 t'eii ill sp,., nintire eiimbinntiniis nKe ' ''is ii trihiiilm; inlliletiee. inn! uilhi l '"111-riiMH- llelti-tl In enMse ileelme- I' 'i'il, e-pri inl! siinir -pi-i 'il.ifue lenders , f i-r urn siee!nlt!e- wiin rn ii for th- distribution s. b It. hill' lieina kept f ii . t ion. the nun ki't e.ivi' i int of itsrlf iliirim; I i'f 1 1.- i in 'iniis. Selling ill' st , tYe.'iie 'ijninst l.ei ..ii .. n. , s;(1, .hnker. Siiiii , 'i t n- I Sf.ii he! "A" i I 'IS. r.ieitu il. riin-Atnetie.in ne!i.fit..i U.is -I'll' l.ehic'. V.il! ; . nil tie nther I lllil, I1'1 spl'i mill- I'lilr'nrtil.'i Petrnl.-nm. I'.nrn-- "It." Spit er ln ii ii'ii t'inii;. I'mteil i -I!"'nil Stere-. S'l.rth Aineriinn I'mlii nit -.liihiisen were 11 fi-lj i it nt an. ii- riitisni'j from 1 te I ', t niijiiber i h ' reeen' ltiiMlne up U'.llHnl t's n s lllil 'I n t Sll m n i liurneil i i er sneil 'b lieit p-nt 1 1 -s ire li lt i' lM n I.. '!l" t ,i ' ic il. 1 i St '. I'm 1 Sp f '1' iril iIee!i.piii.'i, . e m ne rsp.i. ilili. (,.. mnti ' : i I i iiliin! iiimemeiit-. A- ll 111.11 kef. I nthliis III llie ie .i 'iniiibl i llli'll!-. ln. I.i i r- . ii-iii i or . emiiti.iii. ter the ei 'I'll.' 111. -T t ' II, 'lllil lint In. rt l Inr: nf tl in tie mit-l'le b.-bl il.l I" llltlil'tllli , 'M. Hike! w ns llj; lltl tfiinleil 1- f tcli i njil" :h- .!!iiii.'il:itb'ii- wire ntT'n! I pi r eellt. 1'ere.ail lcehllll4es ejv ii" witlinr.t irtleetiiij- niiv iii.nnrtar.t "i-iSII sltu.iltnn Wlli'lll. il iiniii'i 1 1 upteii '"i-. ten 100 100 300 600 ttoe 700 200 700 200 100 20 "JO 2700 100 101 100 600 1100 400 400 100 "00 3!) 100 200 58 50 100 100 200 me no 1400 300 600 7200 400 10 600 200 30") 510 200 100 401 100 100 6750 1310 303 203 K10 503 Z 200 600 100 100 703 100 100 20-0 31503 200 240.3 200 2500 200 100 300 niv. In 1 HTOUs tllh Ailvnnee rtuniplv .. 1 3 li .MIVIllK'e litmiclv uf 46 Air Reduction b0 AJ.it Hnbber 12 Alaska riel.l Mines. i; Alaska .lunrail O M 1 'A Allied riiem el Dye 77!, Allls.fhntnbTs .... 44 Am Ai?rle rhem... 31 J, Am ARile Chcm pf. r8'4 m Hect Simnr. ... 38 14 Am RekcIi MnRiicte 43 14 Am Cnn 72 H Am (.'nti nf lit Am r-ir & my.... IPS Am ( ar A Fdv nf . . 123 V111 Chlcle 7 Cotten nil .... 17 Cotten Oil pf . . 35 I'xpress 136 llhle A Leather 10W Am Am Am Am Am Am Am Ice 105'i Internat Cerp. . 26 I.a ! rnnce Kne 1 1 vJ Am I.ltmeerl 29 H Am I.nonmetlvo ...129 Am Metali D1 i Am Met.ils f 114; Am Kaillater ... .1 14 Am Safetv Harer.. 6i Am Ship & Cem. .. 1 94 Am Smelt 54 H Am fine It pf S9 U Am steel Feunlrlcii 37 T0 Am Sugar Hef 80 Am Sumatrn 28 Am Tel & Cable. . 59 Am Tel & Tel 12314 Am Todacce 154 Am Tobacco pf nev103''i Am Tobacco R 151 'j Am Wntrw-ks ee pf 49 Am Wntruka T"e pf 86 Am Woolen 95 m Wl-elesale pf. 11 OS Am Zlrc Lrf & Smelt 154 Anncenibi Copper .. 49' 4 A?e Ilrv Goedn. . . 65 A.se r floods 1st pf 83 '2 Asse Oil 119 A ten Tep & San Fe. 101 'j Ateh Tep A: S F pf 91 'j Atlan nir Atlantic 1 '4 Atlantic Coast I.lne113Vj Atlantic Fruit V Atlantic Inilt ctfs. 1 !-i ah nnif & w 1 s s :eh At r, & w 1 s S pf 1514 Atlas Tark Cerp... 1 5 Vj Austin Nichols 34 tj I'nMu in Locomotive 140 14 Jtaldwin Leeo pf...ll6,-j uauimer" .t unie.. i Haiti A Ohie pf Rnrrsilall Clasi A. . T'arnjilall Class R . Uatepilas Min Oaytik Hros li niv:' In the f I't" the lT'ilnl .. niv iri'.'li ' 1.1" In tl 1 I'm- !i M --ei he I... I, ' nll-1 II.' I - III.., ,1" 1 il 'I ilOllll . L'" '1 'I'n -e 1 b 1111 Iij 1 iiiulitliill- lie. ii..nlet, .-mil eislil in eitl.et ' 1 i-t.ilile tieii.i Commodity Markets GRAIN MARKET ( IliCIL'n. lie- . Ie-lllf ..li l,l. - 'I 1... .1 -MellBtll. nlmit titrueil 'w - 1 - i I ... In ib 1.1 j the ..irh ib'nl- uu's I'rntii -tal.nij; nil r It. put nf ' .. iler- .;.piti'(l In ii.- iiuuii in j... p... -pnn-lbln I'll t'e lie. lllle. 11.11111!,. lit l'e .tlirt Were e-i rllli'd te the' elTe. t nf !i.:her quet.itinii- hi Iierp.n.l, but bl.J.MC hi-e l.iek-J volume. l'l' "p'li.nc. w Iii !. v.uied fiem rn- li iiiL'fi tisure.. in 1.1 limhM. with Jl.iV .1 "I.'... I. .s'lLl',', .,,.,1 ,1uU s'1 1.".", Ti. --I (;. Wil t,,; , led r.rn -eiiinik ill niniitul. n ii nd I'. 1 C'lIlS I" I bee.W V. ...ll, '. "lll.-ll. 3002 40 neechntit Packlnp . i Beth 'hem Steel . . . T Ppth Steel pf ne.v . 5 TWh. Steel B lloetH I'l-berle, . . s Rinikh-n I"!len . . Ilklvn V.lr d Trnnalt nk ii r. t e-fs .. 5 Hn',1 . t li' i'l ia.s Hl'ew t Shee T Hien-i Shee pt. in T!'irr. tire' A 2 Hums Flres B .... . . Butt" Cep & Zinc. . . Cadde On n & II . 6 Cat ferr.'a Paeklni; C a''fe-Ti'..i I'Ptie T I'.l'lf 1-I..I Pet - . cal Z'nc and Lead. .Hid ( Ml' t wlmn' 'r '.! ..u'.'i ui'dtrweiit t int. -inrti d ,it .. a.n ,n -it i . "ill. p.irnlleli Al'er npctiin W eilktl' ft.T ll the 11' tie i -hmle te T-S'.e. the i ii i""nernl sn; .1 s, ,,ie (li i line t. M.iv tl' . iind ... .11 ell ll llM l'e. t I .' ilue. h.i.l .i , pin i. mn. "!" tii r COTTON iiiU. I'-. ' - ' 'i.i .i t pniv- lni-r ti... I w-i "I'liuiiii arf.iiii'1 is MARKET -v r t e 1 1 '.'U'ij. n.tlnucii - than vn-teidtij. It w ere 1- I M. : L'e ! .I II ' .111 I , !,- pieM'lj h n r:t. tLat . eotten u.i Will! ' .2H ex- i id in ll. ,V " . .'i .i NEW YORK New nili lie r." ' I . . i, IOFFEE MARKET 1-J ii 'rn f eeffee I ne li l'l' i'l.l iir .,ii, Mir i-'.'nv ' .. 'Oieunnii fl ! initll-. I" r' ii" iusr ii shad i iflt . i nklis. I leeein'iee if II, rt i- believed '1 I m - nr.''iii'l liie !.' j. ' ir the I ,r ei 1 ' ie. tn ' ' I - f min M.i. P"n p- !" en ns pur- While I the DIVIDENDS - P' r ! n i ii n DECLARED rfri ' '.O'ltli - I H "l. r . e i -1 l- ti n nn. r ' nr1 r- I O I t mi i r i !,1 I ' ' T .,) Reserve Banks Discount Rates ff , .. ' t 'Hi" ruip, nt ih iw . . , i'j ,1 -e' JlHI I'- r H0 f" 'iV. 1 r-hll t.m iv in Hr ..'f I or in spr n pi IU en .1 I N "1K '. s I l 1 I l H'l ll'hil 'i V? I , '- . Vn.li.n.1 S i't f "-s, I '. -in ' .1 li 'l ' I', i Hi' 4V1 O, 4. U ' I. . .. IS 'l V i - I ill. 'tl -l'l 4 414 V li'P'll8 Jl t'j 4W 4S h .4. ntv 4H 414 41'. i I A ,1 41, m 4V, & dgn l-r,iiielee 4 , 4 4 4 600 100 4700 10" ' Oi 2200 200 100 30 1 100 1301 I 1500 I 1 00 400 tee 23510 e,:i 700 100 5100 1000 1100 5500 5O0 200 1500 800 V -co 600 4200 10030 2500 500 2800 100 '00 100 1800 900 r1 2200 1400 101 2800 B0 1200 "CO oe J -00 1100 2400 600 4'r'. 1-10 1C0 58 100 28"' 20'i I'll 7;) Q-,0 C',1 900 6-0 )i 1 '-) " 1 -1 il -1 -) "1 B'O e'"i -"0 v0 I'll 00 7"1! -.'0 9I0 l.-'l 1-1O 3-0, 1 re ';) 1 0-1 '00 14 600 100 p'j') ") 0 FC0 i0 i200 1000 20 100 P',0 -00 '00 100 700 .00 "0 'O'l 40'J 100 tee 300 100 Oil tO'J 1400 aej 300 100 400 300 300 2200 0400 2000 2400 3i00 400 58 i. 314 19 50 EO'J 94 3 6C1, 4 '4 111 154 121, 111 58'4 98 U6-, 43 91. 8' 70' I 10 Canad'an Pacific ..143ij .. Ci.se .1 I Thifs'-.i? 29'3 .. Centia! I.fatber . . 20'a . . Cen Leather pf .... 67 '-J ., Cerro-de-Patce . .. 43 l 6 Chandler Meters . 674 4 Chesapeake & Ohie. 71 i 6", Chesapeake & Oh pf102'-. Chleaee & Alten C'.'case & Alten pf. Chl & i; III ."' iea?e i- C5r TVeM l'i x. c,r 'c. pf . C ! M" StP, .. C I M & St P pf rm & NTthwesteru C!i I'm 1 Teel. . CN P. I & Pae Clil It I & Pe ri S- P M & O Chl St P M & O Cl.lle Ceppe- . . . . 2 3. 27', P.' 8'i re'i 32 j 79 82 U 91 '4 72 pflCO'i . . 27 H .. rs'i . 67 . . "5 3, .. J51, 105 6 0 I I l'l 1 l nppe- ci ief-1'eabedv Cuej-Cel 1 Ce' K .. ! I-n : 1 'e'iiih i;i & r Ce!u"' T-ip1 orhe- n P Ce! .Traphepli'ine pf "-'. rrl'v T'nfell 18 r Cir.'O' cipar J0'B , fnnse" l.ited 'las 1 17 Cen r;a of N Y -v 1 58 -, 1 'en '""..is rts . ... 15, Consel Textiles 1 ' '4 cert'r.r.tii Can 110', f'en".t.ent 1! Meters 11 'j C.'-nPr'dRef 131 rr m p- 1 P.ef of 121 Cr'n ,i- r0 r"", 1'iH'ii- (s Ce 'if 1C0'- Cr .0 '.'. -'eel "" . v., ','.. Si . ' 1 ' 87 i4 C'lbau A-i Sucar ' Cuban m S icar pf 1 01 ruba Cane S'ii?ar . '3", Cv,ba Can- Siifrir pf 39', nar'.sr.n ci eeijcal 33' t r-.-t.e. rs c Min Ltd 24 T"w 1,-tw-fl'e & Hudsenl'3 f'el Lne' ,t West 1 1 r ' . I'. T VA n "C- u p.)'.' i': IV CaU-2 1 1 1 P f, .'. b ' ' P- rei-h.i'i H'js'ei 1 r -5 I a": r. K "la'x . 90 , I've 'erac Bat '"" 1", : !1( 11 Ceal ..'.-, !",!'" rMt-.Iohr.sen . 9' i. lr 1 ' ot'-Iehnson pf'17'j Kr'e I"', Krle lui Df .... '4 1 i'n :i pf . ' ' ' Kirr'vs Players L '0', !'. d M'n & Sine,' 9 t-.il M'n & Smelt r" 48 "., K'fib Ave B S'C wl R-, I'isher Rely . ICR r sk P.ubber 3 I -eepert Texa 19' 1;. n Am Tank Pfl !i Am Tntu- pf ' 01 ', C.enTnl Asphalt 48 f'.eneral A""hnH pf 79 Cmlieral Clijar 8 Cnn K.lectrlc 183 G. n! Klec spec'al pf 1 1 '4 f.enral Meters .. . 14', ii.er.il Metni 1 pf 84', 1. en Meters deb 15 84 ', i.rilil'vui P0"1.-PS . i i.retrleh H K . -T? ijoedi e, H F pf 83', f'.ranby Mtn'iK ... J4 r, 1, 'a j- & I'a e . . . 1?'i i.reat .Vertl urn pf . . 77 i.rt N'ertli Ore ctfa 30 1 r. 1 r , i rfii Copper 28 .'1 f Mel ' A N pf 44 (JU f .States Steel . . 79 '4 ITabtr-haw Ll.je . . 1 ' 11. r,de MfK .. .19 II. 1 1 suke Mlnlnp 80 llu isieti Oil ... 01, Hudsen Moter Car. 25 H ipp Moter Car. . . 71 Hdrniilli Steel . , r ll)'lrnu ,r .stfel pf 37 Illinois Central . . .1 1 1 'j II Cent pf A 1 14 H I'lnem c.-nt L L . . 74 ij IndlaVema IW ... 1 J ' 5 Indian It- flulntf .. 61', Irbp'r.itlnn Cen Cep !1 InM- Cen Cerp. ... It.ter 1 en Cerp pf . '1 Inter Hap.d Trnn. . 19 Int.r Asrlc pf 29!, In'errat Cement , 3"i Intar Cem linn . 24 , Imei Ot .,eiili elfs i'i ii. t iiitrveNicr uw m Infr M r Marine 41 Inter Mer Marine pf 44 Inter Mcknl 1 3 J, International Paper "COI Invincibl Oil Cerp I4i,4 Uland Oil H Tew 13'j 46 60 1I" 14 1 76 H 44 31 't 5814 38 !S 42 72 li 111 185 123 6H 16 34 135 10S 105 25 1H4 2914 I26H 51 '4 1 144 114 19 54 li 98 37 H 78 U 7 4 59 I22i 15314 1034 15C-4 48U 86 94 1 j 110, 154 48 e3t; 83 119 101 91". 1 '2 112 1'b 1'i 20'j 15', 15N 324 137'i 116i 41 'i 58 2914 18 5b 'i 49 i 50'4 50 N 94 4J 59 '4 MX 111 14. 12. 11 1 i 58 98 145 41 ; 9 7 82 ; 93 'j 291, 30 66 '4 43 ; 66 li 71 H 10214 l' 3": 27 8 ?0 M-j 76 81 31 1 4 91 '4 72 100U .-64 :, 4i '04 '7e e 116 58 1 '. "' 09'4 1 30 ', Ul r3'8 '0C"4 rp, 87 5'4 101 13' 39' j 32 S1 ii lU's 174 10'3 6 84'. 78 fP. '6', ?0 89', 11714 10 I 1 SO'j 9 431, 84 :os 1?' 19 101 'j 46', 79 82 180l II ". 14 3, P4'4 64 4', "', 4 81 ?4 1.' "'. 30 28 U ?t) 4 "4 19 80 68 !5H 25 4', i; 1 11 '4 114i 74J.J 12 W 6 341; '4 '4 I8ti 291, 35 24H 23'4 88 9 42 U 1314 5014 14 H v an , M 13 "i - 46 -60 -1 Mi 'l 1(4 -t 764 -44 -31 '4 ( -724 111 -185 J 123 6H- 164 - 34 - 136 -b 10H - 105 - 25Vi - 1 1 14 294 - 127 J4- 5U4- 1144 - 114 - 6K- 19 - 544 - 98 - 37 78 U 27'4 - 59 -1 22 4 -154 1 03 i 4 151 14 48 li - 86 94J4 1104 15i 4. 484- 63li- 83'i b 119 t- 101 - 91 il l's - 113 '4 -s-1'4-1'4-fOi-15'4 15 '4 32'4 - 139',i 116'4 41 i4 -f8L -30 'j -t-18H - 50 i re'. - 58 '4 -94 i - 60 -4 - 111 -15 -124 - 11;- 53 U t- 98 - 145 - 41 !i - 9 - 7 ezn - 67'i-f 94 , 143 -29'4--04-66'- -43'j, -66'4-j-714-!- 1 02 lj J- 3i 27 4 -fa'4 i03, 32U ' 76'j -81 -31 H 91 l4 72 100'; T6J -?57, C7'5 ' 75 j; - 104 18 39 1'6ts - 58',-114- 11H : 109-; - ! 1 130'4 -121 10014 - 684 -874' --5J4 - 101 13S - 39'i - 32 - 23 Ti 113 1.-4 lj 106 -162 84! 4 78 - 68 , 56", 70 91 '4 ; 117'J If'', . 13', II ', e0 , 44 . i' i. Net ChKC 14 14 ll 211 1 !4 li 1 4 111 !4 li 1 1 ' H 14 4 !i 2 ll 14 !4 111 !4 2?4 i 14 14 '6 14 'i Dlv. in $ 7 12 12 '-4 2U 14 i 2'4 4 '4 14 4 I 1 1 U 'i 1 2 2'i i 1'4 1 "i i V2 S '4 4 - 2 4 1'4 1 ' 'i 2'- 19-4 'i 101 '4 47-8 79 8? 1 f 0 y '1 14 14 r, P4-4 84 1-, 5 33'j S3 24 76 '4 30 - 28 44 79 .. t!4 If) 1 80 68 M 2b ti 25 4-j 37 - 111", - 1 I 4 -4 . 74 1-J 12',- 6H 34 H !' . !4 19 29 J, -33 24?i 2314 f 88 - 9 -42 H -I3H 5014 -14 I4 H . 1 H 54 1 ! '14 !4 It in 1 1 2 P'e 200 500 300 800 200 2100 100 1400 400 5300 5300 100 4700 60 200 2400 800 100 200 100 500 10a 200 200 4900 100 4200 7400 300 100 100 2200 1000 100 200 400 2800 1300 1 20 3900 . . 300 2 700 ., 400 4 549 . 2200 100 .. 2200 . 500 . 700 .; 200 1 100 u, 300 .' 3100 3 500 . 100 6 400 s 100 .. 100 400 400 500 2900 100 7200 1200 1800 9100 100 5800 800 100 3100 1200 300 500 7030 1100 1200 11900 9300 11200 100 1400 2100 100 1400 100 400 4500 100 200 2900 700 8500 1800 1003 7600 300 21400 103 1400 100 200 100 100 1600 4200 200 103 303 2900 3100 503 100 100 100 1500 700 . 1200 . 200 . 400 . 100 . 700 . 500 . 900 . 1500 200 15D STOCK Ittqh . Jew-el Te.t 204 4 Jenrg Bres Tea.... 5214 7 Jenes ft Leugh pf wl1074 . Knn City A Seuth.. 18 14 4 Knn City & Se pf.. 53 i . Knnsas & flulf 1 4 . Kayser & Ce new.. 4211 . Kclly-SprlnKfleld ... 45 6 Kelsey Wheel 110li 3 Kennecett Cenner .. 364 Keystone TAR.... 0?4 Laclede Ons of St L 82 Lchltth Valley 70 LlKgett & Myers.. .222 Lljjirett ft Myers pfl 1 0 & Lima Locomotive .. 594 Loews Ine 1 0 4 Ivoeso Wiles 50 J j Lerll'nrd (Pierre) .161 '4 Lerlllard (Pierre) pfl 10 Mack Truck 56 U Macy A Ce 61 Mncy A Ce nf "2 Macma Copper .... 31 Mnlllnsen Ce 37 '-4 Manhat Klect Supp 494 Manhat Kiev ctfs... 394 Marland Oil 28 U Mnrlln Rockwell ... 10 Math Alkali 47 Max Meters Class A 4914 Max Meters C'nss R 154 May Pent Stores f9 May lept Stores pfl 171 Mclntyre Mining . 1714 Mex Seaboard 1 6 Vex Seaboard OH ct 154 Middle States Cerp 1 1 H Mldvale Steel 27(4 Miami Copper 2714 Mln A St Leuis.... 5 M St P A S S M... 60 de odd lets 58 Me Kan A Tex (wl 141 Me Knn A T (wl) pf 3914 .Missouri Pacific . Missouri Pacific pf. Montgomery Ward. Moen Moter Car... Mether Lode Mining Xatlenal Acme .... Nat Hlscult wl.... Nat Cen A Cable... at En A Stamp, National Lead ., Nnt R R of M 2d pf . Nev Cen Copper. .. N O Tex A Mex... N Y Air Brake N Y Air Brake A... N Y Central N Y r & St Leuis.. New Yerk N H & H New Yerk Ont A W Norfolk & WesternllO North American ...100 '4 North Amer pf 444 North Pacific 74 4 Nunnally Ce 9 Ohie Uedy A Blewer 6?i 10 "4 43 22'J 18', 11 11 '4 36 '4 1'4 66l4 125U 2 '4 164 84', 2747 4811 9514 82 2014 l'2 1 IS 4 13 Okla Pred A Ref . . . 1 T4 Orplieum Circuit .. 1914 Otla Hlevater 153 Otis Steel 8!4 Packard Moter .... 11 4 Pnc'fic Devel Cerp. '4 Pae as A Elec... 88 Pacific Oil 45 '4 Pan Amer Petrel . . 94 Pan Amer B 864 Parrlsh A Rlngham. 1114 Pennsylvania It R. . 464 Penn Seaboard Steel 2 74 Peeples G.ir Chicago. 9214 Tere Marquette ... 37 Philadelphia Ce ... 'O Phlltlps-Jenes 7714 Philips Pet 46 ' Plcrce-Arrew Moter 13U Plerco-Arrew Met pf 31 Pierce Oil 4'i Pierce Oil pf 3914 PlBBly WlRgly Stere 59 K, Plttsburch Ceal ... 60 Pitts A W Va 3314 Pend Creek Ceal... 38 ' Pressed Steel Car.. 83 Producers A Ref... 50 Pub Ser of N J... 91 Pullman Ce 131 i Punta Allegre Sugar 47 Pure Oil 27 '4 Pur- Ol' pf 99 Tj Railway Stl 5pg pfl 17 Ray Cen Copper... 14?, Reading 80 Reading 1st pf 54 14 Reading 2d nf 54 Remington Tvpew . 33 'i P.'P'.egl.i Steel .. . ?34 P.' 1. il Iren A Steel. 46'J Rcpubiv I &. S nf.. 86 '2 lyne'.ii Springs .. 21 '4 ReneM. Tub 47 P.epel,li Teb pf . .116 Ilevu Hutch N Y.. 53 1 4 Rutland nf . T9'i St Leu's San Fran. 21 '4 St Leuis S Frnn pr. 37 '2 St Leuis Southwest. 29 ' 4 Savage Arms 18 Seaboard Air Line. . 5 Scab Air Line pf. . . B(4 Sears-Roebuck 87 a Seneca Copper She 1 Transport 74 38'j 3600 . Shell I'nlnn Oil 13 100 fi Shell I'll Inn Oil pf . 92 3105 2 S'nclalr Consel ... .-i, 200 8 Slne'alr Cen pf S8'j 2310 .. Ske'.lv Oil c"l 500 .. Mess-Sheffield 39 2500 6 Southern Pacific .. 88 '5 1500 .. Southern Rail ... . 24", 800 S Southern Rail pf . . . 65", 13700 . Spleer Mfg 22', 530 4 Standard Oil of Call 10 8300 5 Mandnrd OH of XJ 394 500 7 Stand Oil of N .1 pf!174 400 4 Sterling Products .. t5 23j1 . Sterling Pred rtu.. .' 100 S Stern Hrus pf. . . 109 300 4 Stewnit Warner S,)d 74 3100 J Stretnlie-g Carb . 6r, 23400 10 Studebalier 141 4 1700 .. Sub Bea' Cerp.. . J4 1900 .. Superior OH 4-4 00 Sweets Ce of Amer 1 14 1400 . Tenn Cep A Chem. 1 0 ', 4 500 3 Texas Ce 47', 200 5 Texas flulf Sulphur 604 ir00 Texas & Pacific 21 3S00 1 Tex A Pae C A O. . iO'i 800 Third Ave IS', .'700 .1 Tlmkrn Rell Br 33', 3600 Tobacco Products . E7 400 7 Tobacco Pred A. . . . ' i ', ?C0 Tel SLAW pf . . '.4 5600 Transcontinental Oil I41, 200 Pi Cnderwoert TJTW ' 3S 1,4 1300 n b'nlen Pacific . ..IJS'.i 400 a United Alley Steel . 34 100 .I. Fnltcd Drug 1st pf 47 100 8 United Fruit 152 600 . . United Uwy Invest 1 1 400 Unu Hiy Invest pf 26 j 5300 2 United Retail Stores 74 'j 00 V S C I V A Fdy. . 21 , 100 I V S ' I P A Fdy pf 69-2 10CO U S Feed Products 4 500 Heffman Much 19S 4200 . U Ii.d Alcohol . 1 7 'j 800 8 V K Realtj A Jmp 6 5100 . U S H-lbbter f4 1200 8 U S Rubber 1st pf 98 'j 100 .. V S Smelt & Rif... 3'i 35800 6 U B Steel 1071, 100 7 U S Steel pf 121 ', 900 2 Utah Copper 64', 400 . Utah Securities ... t' 20i0 .. Vanadium Cerp . . j4 , 100 ,. Vft-Or Chemical . . -4 iO'j .. Va-f'dr Chem nf. . tt, 600 .. Vtvaudeu lne ... . IV 4 1200 . . WubrfHh tn SI 00 .. Wabash pf A ?3 3 100 1 Weber A Holibren'r 12", r)00 7 Western Elee pf... 1134 700 .. Western Maryland 10 700 .. W Maryland 2d pf 22 4 100 8 Western Pacific pf. 53 T, 200 7 Western Union Tel 111 400 7 Westtnghouse A B.110 1300 4 Westing n AM.. . i-0 1900 . . Wheeling & L H 8 14 400 .. Wheeling A L 13 pf 16 V, 500 4 Whlte Moter 48 6200 .. Whlte OH Cerp.. . !'a 200 .. Wlckwlre Spene Stl 10'4 1 500 . , Willys Over.and ... e ), 800 .. Willys Overland nf. 4? '4 100 .. Wisconsin Central . 26 500 .. Werth Pump & M. 31 "i 200 fi Werth Pump R.... 67 300 1 WrlBht Aero a't Lew 204 52 10714 1811 534 114 42 'A 4414 105 354 8 82 6814 222 118 !4 ten i"tt 5014 161 4 118 5514 614 112 31 36 494 ?8 27 Ti 9H 47 49 IS 15 ' 67 14 1174 17 J4 1611 15 II 14 26'i 2714 54 60 50 1414 3914 16 43 2214 18 Ta 11 11'i 35 Ti Hi 6614 125 2T4 164 0414 24 4814 S4T4 82 1914 19 109'i 974 444 7414 9 64 1T4 184 152 8'i 10', 'i 88 4 924 r5i 11 '4 46 's 24 t-2'i 37 40'4 77'4 454 13H 31 314 39J4 54 59 3214 37 824 484 91 1304 47 271-4 99 T4 117 1414 78J4 54(4 54 33 li 2214 45 D4 86! 4 21 '3 47 ?4 116 53 1 1 27 '4 21 !4 3714 29 18 ! B'.l 87 74 38 'J 12, 92 31 Ti SB'4 9 39 874 244 65 21 11714 3814 117'j t3 2 109 V4 6-i 139 614 4 '4 14 10", 474 604 20 19T. 13 32'4 r6 8??4 54 13U 136 1 36 J4 34 47 152 104 2614 2 274 t'914 34 19 In . fi 85 i3 96 J, 37 U 1 C6 ', 121's 63 U 15; 33 24 U 62 !4 15 8 14 23,i 12(4 113KJ 10H 22 3Ti 111 1094 60(4 8li 14J4 47 '4 2)4 10-3 6? 42 26 3014 66 48 4 1:an V. M. Net Chu. 204- Vi 52 - 1J4 1074- Mi 1814- Vi D34- li 14 4214- 14 441,4- 14 106 - 4 334- 4 814- H 82 4.- 14 68 li" If 222 11814 114 584- 114 19- 14 504- MS 1614- 11 118 214 56 14 114 61 -I 14 112 31 ' 14 37 H 494 - ll 39 4 28 - 14 10 - 14 47 - 1 4914 - 14 "15 14- ra - 14 1174 14 1714 16 ll- U 1 5 i - 14 1 1 H - !4 264 14 2714- 14 554- Vi 60-3 58 1414- 54 3914 14 16 43 2214 '4 18J4 "4 11 1 1 14 14 3614 li 1 14 C6 U - 94 125 - 14 214 14 164- 14 84 i - 14 27 H - 14 48 14 14 95 - 4 82 20 - 1914- 14 10914- V 994 1T4 44 4 14 74 14 - Vi 9-14 64- 14 1T4 .. 19 152 - 3 0'i .. 10'4 . L OCAL MARKET WAS THIN EITHER WAY Eiscnlehr Was an Outstanding Feature With an Eight Point Advance 88 - 44'4- 934 86'4- 11-14- 464 24 9214 -37 -40'4 7711 -46'S-13H -31 - 4 3915 6 -59 82?4 49 91 -131 - 47 -27 '4 99 T4 . 117 -1414-79 -5415 -s 54 33 ll - 23 J 454 -86'i 21 'i -' 47-f4 ' 116 53 li . 29 16 5 811 . 87 - 74 3814 . 124- 92 b 32 93U - 94 39 67 U - 24 H -65 -21 11 11714-384- 11714- 6314 b 214 ' 109 74 65 - 14094 . 64 4 1i - 14- 101, -1 4714- 604 4- 20 - 20 - 15 - 3 J, - 564 J B 54 13i -136 '4 -H6'i - 34 47 -152 11 26J, - 74 '74 69 i4 3?4 1914- 67 - 86 1 53i; 98(2 1 37 '4 1C6H -121 li 1 63 '4 - I5i 334 t 24 1 6214 -15 814 I 23 In 1094 22'4 -53 T4 f 111 t 109)4 -60 M 8'4-14J4-48 214 10)4 64 4214 26 30J4 664 014- Ui 'i li li li 14 14 '4 li 54 i'i 2 M ?4 14 4 li 2 Hi 114 8 '2 54 Hi The (Imrncter of tnilnvV Incnl innr ket was seinewlinl dlriicitU te Inter pret, but Hiiggestnil en tht Kiirfiice 11 grciit ileal of shifting wiin beiiiK Hew In niljusllng mrimnts for Income tax return purposes. The market like wise wns found te be verv tlilu m either side of tbe ledger. That if t say, execution of either moderate buy ing or felling orders oftentimes pro duced Hiriirl-Ingly wide variation of quntntleiis. A striking Illustration of the latter (oiidlllen was given In the case of Kisenlelir. which nfter n long dormant spell iniiiip n fcuz-ntiennl uphoet of ever 8 points tn $C. This remark -nblc iidvnncc. which carried the stork within -2 point of the jeiir's high. wiih nccemplished en n rclathely sinii'j turnover. The preferred, en nn even sinnllcr volume of trading, mounted n point, te 100. Until Lehigh Valley nnd Lehigh Xnv Xnv igutieii, which were unceiiiniiuiiy strong in the previous selnn, gave ground en only moderate pretit-tnking Miles, the former dropping J t point , while the latter lest 11 point. The modified plan of the former for the segregation of Its coal properties Is new in the hands of the Attorney (Jeneral, nnd while none of the detnll.s of the new plan was made known, it was understood the main points of difference were smoothed out In the series of conferences held be tween the representatives of the com pany nnd the Government The point drop in Lelilsh "Naviga tion was attributed by some te the action of the beard yesterday in reject ing the resolution offered at the last an nual meeting by one of the stockhold ers te capitalize part of the surplus. These familiar with the c einpany's af fairs nnd the coal mining situation did net leek for any ether action. Apparently some of the earlier sellers of Lake Superior t'orpeiatlnn sold te establish looses took bail; some of their stock. In alt events, for the. first time in nletig while the demand exceeded tli supply, which cnued the price te rallv nbevn ." as against -l:,i jesterday. On the ether hand, fresh selling pressure was encountered in Peiiiis.xlvnnialtnil Peiiiis.xlvnnialtnil read with only n fractional shading of price. Philadelphia Ilapid Transit and 1. (5. I nl-e yielded fractionally te apparent realizing pre.-ure. the Inst named falling back te .in1... 4 15i i 4 "i 1'i i 'I 1 Philadelphia Stocks 1 I'.IB .Net High 1 w 1'. M. chs-e no Am ltwK, l'2 1- iu .. .1 de pref.. (12 (12 C2 - 1 10 Am Strs. .1.1.1 1.1.1 153 .. lOOtAnn Arber pref.... Kl', .14 1. .14 ...... lOOtChes A: OTlVi Tl1-.. 71J,C - "i HI Cen Tr N.I .10 "" " "i 11 Klec Ster. .IO'.j .101j 5tii.. 400 On Aiph. -IT lli'j -10v 1 . 17.1 (Jen Mtrs 14?; 11"; 141',.. 10 Kev Tele. S:ld S;C, S:,s -Is 1.100 Lake Sup. .I1, 5 5'iVi 10S Leh Xnv.. TO T.I T5 1 200tI.ehiBh Val Transit. OS1'. C,VU (iSifjin; SOtMiirlM Oil f2Si", Mk 2-4'n KiOtMidvnlc. 2T 27 2T '-j 10 O Klsenl'r SO M SO 4-S"'4 100 de pref.. 100 100 100 1 ' ion 'ac Dvmt ' j A ' 1.1 l'enn Cent I.gt war. 'j !4 J'j 'i 1.114 Penna Kit 4(ia, '401.. -KiVj 10 IVnna Salt S,1 S.1 S3 . . i nOOtlVnu Sbd Steel ... I!1, 24 2"i-. 10 Phila Ce cum pf.. 42 12 12 .. HR I'hll.i Klec .'.2 .".J :'.2 4- i 02 de pref.. HI'- .!1'"s ".1!4- - i-w Phil in w .".:: .i::1-.. .i:i's.. 7.17 l'lnla It 'J' :te'v .". :ie , -i- - KKITHe.idinc.. 7r'- 7S's T's 1'j lOOt'IVxii- Pac C A: (.. 20 20 20 4. i., 2.1tTrans Oil II".- It1- 1 l.-u ', 200 rnienTrac 40 10 10 ... 400 V i I.... .11 .10j .11 ', 20 de pref.. i1-17s 55 "s "'In- '. 10 V .ler A: S M Itll :i(5 t 1 Net chaiise made bv rompi-lsen with Ut ,l en 'New V i k S'tilc Kxilinnge. iitii.iii:i.iiii.v iin'is 2.:000 Libert 2d -I'i.s : . Ii's'i .10 Libeitv 21 4-is lis nn .10 Liberty .'id -04s '.is ,ir, 1 00(1 Lake Superior ine "-. . 21 10(H) Lake Superior lne .Is. . . L'T .'!()0O Lake Superior inc 5s. . . "il 2000 Phila Kleclric 1st i"s..lel- Oil's 500 1'liiln Kleitrlc (N 100 10000 Standard ".ns & Klec (Is. lib1 . 14 14 FOREIGN EXCHANGE New Yerk. Dei . 2s Opening iu h.i- liens en feieign exdinnge llils uuirniiig showed an ens'.ne's peivnding the en- i tir'i list The sharpest decline wis m , lire, where a (hop of l""i points wns shown, sterling Knines were off 21J point- ami '- down. :h 1 2i 2H i '4 . J 1 'I 114 14 'I '4 Hi H " 4 i li H 4 14 14 H 54 Hi U4 H4 li . 1'-1. Itelclen enlilet. O 11'' (1.01 ij.; lire cables ri.ftl'j. i.Ol- Swiss cables 18. 0(1, cheeks peseln cables 1.1.71, check Dnni-h i abbs 20 TO, checks Norway cables 1(1.02, cheek Swedish cables 20.02, cheeks guilder cabbh !!l.7.'i, checks Quotations-. Sterling cable 4.01 U. demand i.ii.i'- franc cables i.l'.i1 checkw i cheeks . checks 1K.WJ ; '15.72; , 20.0.1 ; 1S.0T; i 20.ST ; i BO.!!. : marks, .01.1:1 ' Th" rale of premium in Montreal tedaj en New Yerk funds was 11-1(1 j per cent. The rate of discount in New I Yerk en Canadian funds was 11-10 per I cent. I Kxcbnngcs in Ihn Central Kurnpi'im 1 area were weaker indnj, rcllcctlng the sentiment pieniliii ilirniighiiut the maier erchnngi's. (Quotatiens: Hulgai1- inn .TPs'. Itiiuiniuiiii .."i, ; Serbian I 1.10; (iieek 1 is. . (V.ei ho-Slevaklnn l'l. 15; Juge-Simian 2T' ; Peli-h .(I0.1T; I'mnisli 2.M; Au-trlu .001 P... I Hungarian .0(iep"s. TK?TI.nriAV S rf,is(i rji OTATIONS f-terllim: Prime, ire rtuildrr. DfinHiin 4 t. 7 il .", us', ;i Tl CaWeM 4 11', 7.y I ', na SII.7S rOIJAT ni'FNIN'i; Ql llTAIIONS Sterllni: Ijmr, j,re OulMein rximmut . 4 rt'lS 7 IS', ft 04 .111 C,J Cables . 4 i,!1. 7 1(1', r..04'j RO.7.1 Metropolitan Storage Warehouse New Yerk City $500,000 (Value of properly $755,075) First Mortgage Serial 612 Geld Bends Price: Par and accrued interest yielding 6V2 THESE bends are secured by a closed first mortgage en the Metropolitan Storage Warehouse, te be erected at Ne. 471-475 Amsterdam Avenue and Ne. 168 West 83rd Street. Annual net earnings arc estimated at $107,504, which is mere than 3 times the largest annual interest charges. Valuation and .earnings here stated are based upon appraisals of outside archi tects, builders, real estate dealers and storage warehouse proprietors. The Bends: Dated: December 15, 1922. Maturities: Annual, 2 te 12 years. Interest Payable: December IS and June 15. Guarantee of Completien: G. L. Miller & Company guarantee completion of the structure. Personal Endorsement : Each bend has been endorsed personally by Charles S. Merris, President, and Lawrence S. Merris, Secretary and Treasurer, of the Metropolitan Fireproof Ware house Corporation, the mortgager. Callable: At 105 until December 15, 1924; thereafter at 2 of 1 less each year until the callable rate reaches 102; thereafter at 102. Denominatiens: $100, $500, $1,000. FACTS ABOUT THIS B0ND ISSUE Letters of appraisal from impartial sources, de scription and illustration of the property, and de tailed information about the bends are contained in our descriptive circular. Copies will gladly be furnished these who request them by telephone, mail, or personal call at our office. G.L.M VtmCf9OTfVnBHmin ILL.ER & INCOBPUO. AS 505 Stock Exchange Building Philadelphia, Pa. Telephenes: Spruce 9256-7 New Yerk St. Leuis Atlanta Memphis Knoxville I 621 I Safe I I Erst Mortgage I fa Our Recerd 100 Safety for 67 Years Assured safety has ever been the first thought of the Heuse of Greene- baum. Providing the greatest inter est return that our high Standard of Safetyweuld permit is the policy of this institution.Thcsearethefactersthathave made possible our unexcelled record co-pe. Be-1 67Years'PiwenSafe0r Denominations $100 S500 $1000 Stairtd by Income- Producing City Rial Ettatt New is a particularly appropriate time for careful investors le benefit from the liberal Greenebaum policy. Yeu can earn 6Jintcrest,and at the same time becer tain that your funds are protected by our definite system of Bank Safeguards. Invest in Greenebaum First Mortgage Real Estate Bends denominations S100, 5500 and S1.000. Ask for current list of 6H offerings. Greenebaum Sens favestment-C2!2fi23X Chicago FOUNDED 1855 Philadelphia Suite 408-215 Seuth Bread Street Phene Spruce 9336 Oldest Tirst Mortgage Wanking Heuse i;x-divtina." Lerraine Meters Bankrupt IlrtriHt. Midi.. Dec, 28 Th Inrrln Moten Company, ct Oranrt IUp(J, MlchU (iKd a. '.elunuij- rstltlen In linnhruptry whclullrn ,i of 191 ma ni) ilihllltl;, of liU.OOO BAR SILVER rttr ntlvtr "an A6 hlinr n I-onden to te ,ly at SI"1 RAILROAD EARNINGS VTl HI-iiN .- vr);M .-., . '''" Oil I.rf- Mevnilii no... . . . tS2.Iir.,:u.1 Sl.dXQ.Mt Vi.l i.pr il. ni . -. (.17 -11 ;,I4 . KIiii riK'pilif' Bium. in.- 117 770 10. 1 S7.iST'j .Si I ui"T i. iiiuii ni.7'll,n7,'l H.'.tmi ir.i, ATLANTIC friAh'l' t.isn J'nicinlir gr'nt .Nl i'1'T. Iliculll" , i;le..i i lenth' urer. N t ' I'T. I nr .mm fT je liis.nin i ii' j ,,n-, "i 74 'I t.'.,'l I.I ll ('7i i'AI.'I. .S'iiMinlr urn" . IM.AIli sai Net uper In' eme. . l.fiifi.iinr Illtufli nienllis' n in 142 ll'l 1170 Net ei'fr llir.uin" , 1J lna.iin;; lit. lentr 7S8 filn 404 7-1', II fl'IK l-, h.S7fl lls !.7II ..': l.Olli 4U'j 7, S'lft ns, 7.030 re, Londen Metal Market lAilulnn. Iiii- 28 St indurd lepncr n 01 12. JI.I. fit in.. I')-, I., ni J.liwrn?, pet, 71 10a, fiirur.-M. 7j 'nn pt,r,i nn Hi., future, UM ir i.,) Vr.'l ("ii -: ,H,, tutu,.--., .., M .,',. -.in Mint in7 -. fMMt.n. f'll lft ' ' f''' I,,, i,.m..'"i ". , "n 1 .11 IMM'.MUIl'S I.MI'I.IU MOHP Cpmnllutleii of Initimtry rereri. .hew . marked (mln In emuluyinent. The li'j.r.S man who nnt. te k.ee ueaied en bun n",J eondltlene In Knerdl mal-ei t 0 pracili in Jar the Tiuilnis li.cllen of lh i"cSl n Lecora. 'MUe It a Habit." -Adv. I $250,000 Commonwealth of Pennsylvania 5 Per Cent. Bends Due July 1, 1951 Coupon and Registered Bends Interchangeable Tax Free in Pennsylvania Free of AH Income Taxes Lcsnl Investment for Trust Funds Price: 118 and Interest Biddl I e & nenrv 04 Seuth Fifth Street Philadelphia ' i - I J :j. . . .?
Significant historical Pennsylvania newspapers