Newspaper Page Text
THE SUN, TUESDAY. FEBRUARY 1, 1913.
COTTON LOWER IN 1
i fiu. Tlioiiu'li Si'llinir
v i .II.I.M ON IH'l'inNs;MH
i , ml .Moisinrc IScporlcil.
liich Will I'm (iriniiid
in (im(l Slinpc.
w.i utmost fo ill III ele-o. Jes.
i vi ,th tr.ullnir dull anil pilro
i, arrow 111 the cully trad
uce steady, 1 1 1 1 nil upward
.1 llllV IIS II result nf tin- tin
' : Mil' lilVl'Iplllll in it i-u t tut
- .,1 111. Ml' DM till' 11'lMlll '
at'-'ll !4t111fU lllll mill tltl
, i mil Hlinni; it i hi p I in pu-
. ihIi h mnrUct In tin1 ' IdhIiiu,
l! f IfKlltl V Ill'ltlW till' filial
'i Siitiinln There sviin notli
, t news td stimulate trailing,
p . i 1 api thi' stiitrmeht tlmt earlier
, .i.i. of tlii Fast India rrop were
t Lev f'n the other hand develop
r fi ti rt -re not oncountBlnir to shorts.
W ati cr conditions In the cotton bolt
,re n.ostlv favorable, although
f. ichltm hs temporarily retarded by
it tat fnll at thi last few dnyn, but
hir 'i ill moisture with moderate tem--ra'
-'ei holprd put th Riouml Into
c i nmlltlon Although there are
,' that spinners will nwnlt the new
t planting before entcrtnfc the
n n-' e' nirulii extensively there nrn
indications that they will buv
' If mote raw cotton Is needed.
T ' ' mi been no cessation In the de-
,i f.r cotton Roods by the retnll
"ide nMdi has been en'nylnir a busy
. Mle the spinning Industry
,i i - still active. Spinners' takings
- l en very large each week for
, i ' ne. and .ilthouph the total
s c arc smaller than last season
' . Mippl- from the crop will be 2.000,-
I .ilrH or morn smaller than from the
v one llo ever. If spinners put
if rli l'ic their tciiulrements becuuse
i i . new crop outlook they have suffl-
reason to believe, that It points
e much larper supply of cotton from
c .,! n. reafeil iicrcntcs, as com.
r 'oil with la't year,
i ei H" first time In aoveral weeks
rre wns a decrease In New Tork
a i nl cotton yesterday. The total
H"''"iise was 800 bales smaller than
a r i.iv ntid the certlticnted TOO less.
f ' irkH here were:
Tenter- SMnr- Last Last
dar das-, week. year.
riii warehouse . n:.&7i kj.in to its.!:?
ti i it ni . f i.fo f.T :?,:; i:..w
e lack of demand, for spot cotton
as resulted In a little easing In values
ir'nu the last few dayB, with another
l e of 5 points to 12.0f for middlings
sterday. The HVcrnno price for mill
ets in January was 13.07 cents, th
Bt'csi for uny month slnco July, 1911
,,,. aNerago for last l-'ehruary was
', almost one cent per pound
k'lier than for January, 1912. The low-
i outhly nvernpre for apota In recent
ca-i was ! 37 In December, 1911, and
he highest 3ii.27 for AUfrust, 1910. It
ipeeted that there will be better
rt en for the actual hern within a few
1(. as n better demand Is looked
' r but the course of prices tu the
'"lures market may govern spots more,
I' splntitTB continue as heavy buyers
h In the last few weeks, however,
M'nt values should he steady.
The New Orleans market will be
rlced to-day owIuk to the holiday for
"ie Mardl Oras celebration.
Hjiot i ntton was easier; mlddllnir up
niw1." l'.'.on; nilddlliiff (lulf, 13.20, r
'Int.i decline; delivered on contract "00
Ales Southern markets wero un-
snped. Trices for spot cotton In the
ruielpal Southern markets were: New
i-leniis. 12 7-16; (Salveston. 12i; Nor
th 12-. HI. I.ouls, 124 ; Augusta.
.Memphis, 12i; Ravannah, I2
The Nw York market for futures
'eterl barely steady, unchanged to
" re points off, Prices for futures
Open- Hlfh- Low. Clot PrT
im en. mi. Inr rlnie.
Mtrc! . i:l 11T lt.JJ II ST 11 ti
mi is it 12. ia i:,04 i:c7 isos
KM 12 09 11 SI lf' 11 69
-.! 11 M 11 SI 11 U 11.12 11 i.'.
O-inl-r 11 -. 1141 lir. 1137 1137
rmi it ss nil u ii im it sn
he New Orleans market advanced 2 to
J rotnts after the closing here. Futures
it w Orleans were .
Opea Hlsh- I.ow Clin. Prer
lh elt ent ln. cloe
K:ct 12 21 1. 33 13 33 IMI 12 I
JKt 12 is i i: it i: i:::
IV.r 151 IS S3 12 24 J1 12 27
f-'nber ,1 ,1 11 OJ 11 U 11 li U 47
"he Liverpool market was steady; spot
. vis easier at 6. Sid., 2 points de-c-itrs
were S.00'1 bales, of which
, vrrn nierlcari ; receipts were 32,000,
' wli' i ;7 r00 weri- American
I ,'af's lit I.Uerpool follow
Oi.en lllsh I.ow- Clin- I'ref
me. ei e' inr iloe
Mtii-h Arr ! Mk, H Ski'i fTii,
ill .'ur.f i M i 1,1 CSI f, f,i f. Tlj
us 1.4'H, d '3 0 4J : M
' A M bids to Liverpool were: March.
:t ' May. 12 12 . July. 12.04. Liverpool
i jc ! upon tu-day 2,t to 3 Vz points off
' tertur I'celpts, shliments und storks
n Ship. I. ait
''elpu year menlii SioeU year
llsiifnn ll.;s 1H,41 11,724 141,111 17US-.
1r.i,i. . )k.1 C,26ii 1,1 lJ.Vf.11 17,4. 13.1
,' - ::i i :;.i 2.M4 n isi hti
,' ' : j ii4 : 2 27.I.M ij.i;:i
i lu.ev ..i :i,, f.nj 4 ij si ;u
T"aJl 1,04 t.'.OuO 1JS2 4247423 4r"l
1 i receipts and stocks were.
Re I.ait l.iit
r el III Teir flocks jear
iifni oftH 12.7H 2S3.P34 5'.4 vjt
r Mn I T7 4,177 137.S17 27t 24
il42 ll.r.ir, 1I.1J7 22.'.!i4
, - "1 .'10 1 701 22.K4 41.7U
; 1 12 3,M. 4 MS rci.',i
,, IM 2 177 Ht;i rt.ss-.
Jl S.M 2J.474 73 r,S7
HUH 37.2t "nToM V0i2M
Flitlmated I.ait I.atl
receiiiiH to dar weak, yaar
H I'M sn.7;
11 " i 100 lo 3
t Ii-cliiilcd Mitchell, Hubbard,
"'' ' . Morrison, Mohr
" Waters, WlBKtu, Norden, Wll
" l',.o, Ituyce, Hchlffcr, Sleden
1 - R t 'ssBlbbon. Cone, Olfford, Hart
r' " ' -ipool,
t 'tr r n risk Cotton Company of
' -t. Ala, wrotn Pick Uros.
v' l 'lin from present Indications
''' ' ere be a larjta acreago
n cotton this year and also
II he record sales of fertilizer
'' 11 Mhintlc States. I'repuratlons so
' " ' ''i ailsancu of an avernee sea-
I Hi os.. MontRomery, Ala., write.,
date, of January Jl: "W have
f"M"ii to Nomu of our Imiulrlri which J
l"i. l us to believe that Kurope, a well i
r smericB, Is consuming more cotton
nls ear than in any previous season.
cpiniierH th ii world ovr arn prosperous
',"-n rnriiiiiiiii am uuuvb iiiq svci j
f" livery spindle that can run la
ll'lIK rilfl when lint li1tiilrH ku Inhnf I
"17 run when nnl hlnflereri hv labor i
'i-n ur iacK oi lannr. r urinermoro
'""nirnuH factories, North nnd South
'i the :oiit itient of Kurope, will
1 oioru or Ichh suppllus for the re
"ia mi, r of this season, but they are
'r ine from buyliiB, omn being- p
Prfn.KUu us to tariff leKlslatlon in
''"'intry, nnd othora ore waiting" for
'! Holder to net tired nd sell hl
"i'on, thus hoping- to obtain auppllos
"i a lower baals, pr, as many expreaa
1'- r-.'.l II... t .
'lea or lack of labor, Furthermore i
nt rnua fuetrirl..., Vnelh unH Hmilli:
- 1 iiiv nuivirr in vHiry inu uuiion
THE GRAIN MARKETS.
When! limes Knrly on Uestber
Imntresi lint llrrinpia Xiitup nn
Wl"at prii m well' mm r I'artv In
I"- liailihit Mstinlav. uuliii; to the
i. ill of hiiiih in thi. wlnti'i wheat bell,
nioi-t si clloiis which had iii'i'iled It most
K'tt'uir n hlaul.i't of snow over the
"unit plants. I.-.it ir- worbl's uhlpnieii's,
ith an liici ease of I.Cdn.UOH liuslmls In
n iv". u 1 1 urn Arseiit Inn. were ucalnst
ii'liii-. uhll" th" ibb supply state
l I't n illHappollitllm in 1h.lt a lb'
il".i" of nun liif, l IiiisIh'Im was
-li'iiMi for ilniiii stir ubi.,it n II liitilirli a
laii.'ir il.ii ia".' linil he. n .ii. r ill v ii
pi I'tl il 'riii, In, i , m HtllCl.S Hi se
Mil pullitx. im.st "si ilp at Isaiiia"
'lt. Hh.-ie tln me iii- Im iti-tt ccr
known. cIkiKhI IiiiIIIhIi ciitlniHlaiti.
Thi'ii- win a small rally Juiit In lore the
cloNlnc,. Ii.ihiil nn i ports of i'o'.il ex
port mlcs The tiitul xpoin of wheat
tcpoilc.l, l.onic of It old business, well'
thirty. live Inails Shorts covered late
In the scisloii. AllhoiiHh pot thins of
the winter wiicnt b,,i still need wou
ovi'ilnn Hcathci I epulis llidlcatc thai
tlicr.. will be tiinic -now in tin South
west hcfori' the . ml of I i ,. wicl. Theie
win little aum-.Hlv.. Ii.uIiiik I n"
r the linn i tain' 1 1 y of Hi llalkaii
-itu:it Ion Al do, i lnMiit; pi Ii p w . , e
't to tjc. below Siiturdiu f! it it I Hemes.
I'otii was strong hciaiisc or fuillwr
rnpoi ti of danium- to the clop In Al -Rftitlnn.
A private cable stated that
conditions arc had and a larnc part of
the corn crop Is compleleK lost, with
the aierage considered about 20 per
cent and the present estimate of the
surplus from 72,000,000 to 90,000.000
bushols. While there was little bulnu
for domestic consumption export sales
were larue. totalling 7S loads, nf which
a part was old business. Country nf.
ferltiRs Increased us prices advanced.
At the closing vnlues were ' to c
above Saturday's closing
Oats wen without special feature,
moving over a narrow range of prlc
fluctuations Shorts cowied on the ail
vance in other grains.
The vlslhhi supply statement showed
domestic wheat February 1 was f.4.914,
"00 bushel-, a decrease of 10VOOO
bushels from the week before, ncalnt
HO. 42."., 000 bushels last vear. bonded
wheat 3 tr.O.ooo bushels, a decrease of
l.niu.OPO. against l.fiUB.OOO visible last
year. Corn visible wns 9.717.000
bushels, an Increase of 427,000 bushels,
ngainst 15,000,000 last year Pomestlc
oats decreased lf.9,000 In a week to
9.H4H.O00 bushels, compared with 14..T3.".,
000 last year; bonded oats were Ktl.OOO
bushels, ,i decrease of f.l 000, annlnst
440,000 In 1912.
l'rlces at Chicago were
Opei. Itlsh I.o Clo" Prr
wheit : ln el enl tl'K flOfe
i7... . 'ii n !'3. ;:', si", ?'
May ... . MV s:. MS
till .. . . M fj' K', Mk, t.1
riitember .... bi'i-i f4', i,T, r,i, M
Oat ii :
My 14 :i s.it, ii i
July S4( 4i M .11', lit,
September S4 Jl M' 34 34
New Yorlc whsat prices woie:
Orn. High- I Clou rrsr
inr rt rt In- clos
My MS MS
May s HK M"i MS '-S
Other wheat markets
Opn-j. lllsh I.ow rioi I'rr
Mlnr.rsrolli: liu et et Inr rlo
Mar .. .. si iv fc;it ',t1 i,
July 19 I5' M ii tn.
Msy MS MS Mi,
July , n; in, ii',
M.iy . . st, s :s K' ' "S
July . . . ! M SV, )
Itecclpts nnl exports weip
Wheal I'orn Out
Ke"etpt -New York . 1. w Xfm ;;, r,io
Ktimns New York .. :.S.ni() oi.wa inn
Heivlpts-lllliTlnr I 332 KM l.lTl.ono X' ("W
Kxpnrt-M?atoirtl 37:.u0 301. 0t' If M
I'ash marliets wern steiily, with InrKe
ssles. Cash nuotntlons follow: Wilful
No. 1 Northern sprlnir f. n. h. tn arrive.
J1.H0H; No. 1. Northern nt Mlnne.iiolls,
sfic, No. 2 ml winter to arrlvn t n, 1
Jill; No. 2 hnnl f. o b. to nrrlve, l n.l
No. 1 Manltohn f. n b tn iirrlvn, II fij.
Corn No 2 yellow c I f rail. f.Oo No
It export to arrive, ..C.i,,- Onts No 2
whit". .".90 , No n white, 3Sr ; staml
firils, 3'4o Uye No Western c. I. f
Iluffalo, 7o. Ilarley MaltlnR c I f
Klour was stendy. with inodernta
ales. 1'rlcen for Hour In barrels at
the Now York I'roduce Ki'cliaiiKii were
Hprlntr patents, Jl.nnji $4. DO; winter
straights. S4.A0fTI4.TS: spring r.leais,
S3.9ftQJ4.30. Kansas strulRhts, Jl.TS'S?
$4.40; ryo flour. S3.0I4
Carload wheat receipts at the prin
cipal points were:
Yetler I.ait Ijit
day week ear
Chlcsfo ... (- -
rmluih !: i a
Mmneapnlli (. fu j,:h
Winnlprr t'i "11
Totals 1 0: i.4: i.Oii
World's shipments of wheat were
l.ajt Prevlnui I.ait
week weftk ear
America a.tsi " t.MMW i i.m o o
Arrontli, 4 o::.ooi ; 44 urn c.,.i
Huiiih i m,4, ' 1 riiii.i'iii ;t,f"i
lllilla (II.iM ..ill.Mlil lHj.-H
Iinnubn Tij),Xhi r.fs.Ooi fwi i,,i
Aiiatralla . . . : SI, lain 1 Ui,n& 1 1 n..o
other countries :vi."i H0' aiM'"!
Totsia . . . i;.;:,ow u.nw.wu tti.-.wo
World's corn shlpnii'lits (bushels)
Last I'revinua I.ait
week wi-ek seal
I'nlted Riataa 5 l.'.i o.M :w:wi 1 1. k
Arsei.iine . .. . I,M1M 3 :i7.ii
Hualia . .'4" 01 SI 11 1 MO.OOm
Hanubc .. u',0')) 41.00') 1,441 on.)
Total! . COM 049 Ht:,M 4 H7.(l)
THE PHIIJMELPHIA MARKET.
I'liti.AtiKU'iiiA, Keli, :i Ti.nllns on th
1di.i1 oxcluuiRe ouded iulet, thoufch stoi-lis
xhlbited u reartlonarv tendency follow
Iiik it fnictlonal ilecllnn In Stiel to iii
ilurlns the lust hour. Traders hi the
i'Io.-iii wem pessimistic and weie prln
lipiilly sellers of Stiel A feature of the
day's traillnit iis Ihn luivlnp moM'inetit
In I'nlted fias IiniiioveniBiit shortly after
the openlnir by local houses, nhlch creuti'd
n syinpathetlc ininenient ill I'hllndelpMii
lllectrlc. Ilotli stoclis ended ilrm at the
best llBures nf the iliiy
Open Mlili Ijnv cio
Salr In ir im c,t. In;
Ml) Alll MIU1I1II .'i, h l' 1
Ml I'amtirlj "iei-1
no ( un 'I lac N .1
:c I'.lec hlur Hat
l.'ilu lira AMilialt I '
.1Vt Crn Aaphall it
im MiiiHowl i:iec
M liifcCour V
HO KiVflnnc'lel .
liu vsiune pf .
M 1.1'hMh Valley
11 I, VTiaiiKir
;a,"i I. V Tiaiib I n pt
II I'eiin Sail
1 I'rmi .Steel pf
1.7 1'lilla Co
tlfl Phils Co pf
i::n Pldla Klec .
M I' It T I r.
to Plilla Trae
I.VM1 Tonnpsh Pel
I if II llenillnK .
1'iis I'n 'I ractlati
SIS! I' (I I .
7.111 I" f4 htrel
i I' H N pf .
i;'4 i: 4.",
77S 77 77
:; mi :m
ii'i ii'i ii'i
47 4! 13
SI MIS M
171, 17l I7'v
:il 31 .11
SI 01 . M IS IS IMI 1.1 ID
HW-, III IfWlj 107
ui in hi ui
4U'h 4ll'i 4U't 4I)',
41',' 411, 4.1 41
:i, :i'v nit
37l-j r7l 27lj :7lj
SI M'l SI M
I I II V, s 1
VI Mia 3' K IS 111
Ml1t M .Hfl, M
UI', UP HM, ma,
84tj r.ir. r.i ei',
47 1.7 1.7
ins), inHi, mH Ii)
lll'j 101 Jul., I'M,
a iv J K.ln
Ol-l il4 I1" .11?,
Slid lialdwln ti lol'-j in.ila lo.i'j nvt
lull Until Hlerl t,s 117 117 117 in
IHill Cull Tr N J S Ml'. Unit lul'i 111.1 'a
nail Cii (!ii da . tun lot Ins. Ilia
i: & P 4a... sr S3 S3 S3
: i:rlniylIH4i mi iwi; g( mi
limo.lliiriviHMl si.. ioo!7 HD'.v ion.
lllll Kri'slone 6. M!j SI)'-, m-i su',
sum Ih vl Hen . ua'a ui wt uiij
V(ll'4i; 4 Vfi'.i UU'.v IKIl, W0'?
I) I'hlldCpCnn la ,. I UI Cs Urt
3Ui I'liila rieo6i. .lori kj3' lailj jiuii
20I Phlla KIooil. saw S3W ta sj(
SUM) IlfaJlML- ( M 4.. 07; 911 mil 071?
Itai) lieail (I M Imp 4s H0I J Wl'J Mil BOlJ
KM) Ntonil (ias 6s. lOUlJ IlKltJ K)i; 1(H) :
luad-Vcl tva... . W W W W
The Anierican rower and I.ltht Conipany
has declared an Initial dividend of i per
cent, on lta common stock. Dy
to atook oT record February liu.
The Diamond Match Company haa
Glared the, regular quarterly dividend
I H per cent, and an featra. dividend or 1
ia I'umiuui, pius. fruiD diarun i
GOSSIP OF WALL STREET.
The Time fur Itrnraniilrnllnii of 1 . I'.
I'tuler the decision of the I'nlted States
siitueiiie Court dissolving Ui I nloti I'a
cH!c vsiein, the inaiiaKcn of the omp.iliy
mil the individual defendants were granted
Ihice month within which lo reorganize
Ml conformity with III" lleei.inll lllll the
time allow imI for icnrenlilntloii was to
ilati' fiom the Hun. of (Hlng ihe matidsle
anil the inaiidnle h.n nut vet been Tied
I'n 'iliiinliv fiiriMiilnlinii or it has hreli
delayed hv the tiIih of i onreiciin's he
tweelllhi'l lllotl I'.inlli penple. I he Soil! lie I II
I'.ll-lflc atltl Hi,. 1 1 Imi net- .1 eiii,,l . ml lt
tl appeal lo the Siiincine 1 milt flom one J
"i '"" Miornev I ieller.ll s IIIII1HX1 lllll
wonl c.iinciMit from ,-i lii tiirii m v c-terihiy,
following Iha wed; end i onfcrciin' hi'tweeii
the iiillro.nl lepieeii(nlvei ntid Ihe K
loiney lletienil thai the mandate miviIiI
Im ent on lo Salt ,al,e litv onTiienliiy
mil filed there nh H.- nllh.il Dial gives
the ieoiganl?eis until ihn first wccl. of
Mm wllhln whh h lo umiplete their work,
bill If U still liriit,,.-,..! Iii ...,t,tt,l.,t.t It llilu
inolilh or befoie Mr. Wlclserihiitn goes out (
oi iiiiicc i ne niei that Hie iiinnilati' is
In h" lendy tor llllhi! lo-ilay signilles thai
' ' '" , 1'iouil'ss ii. s neen limn"
tl, ouch iiohe of t In' i iinfcrci'i Im said
I" aho'il Salmilai s meci um notlier
siunlllcatit iln ' lti itn cut Is the fact thai
Mi Vaiiih'illp, who has pnitiripnteil in
"II the i oiif e I'l'iices, has gune to 1 'lot Iilit
on a tacailon trip
d nin e In Snuilirrn I'ni'lflt- lluiids.
Soulliern IMclflr collateral irusl 4s nil
vanced from an opeiilng price of p.'i', to a
closlti at o; .Morn than H75.noo of tlii-m
elmiiKetl liaiid 'I here nre niitstiindltiit
S.14,7l8.iinn of (heso bonds ami they are
eciircd by Ihe enllre rspltnl stock of the
t 'Mitral I'.it'lfle. SlT.I?4,ti rommon mid
$l? cd.iiiki preferred On the day of the
decision tllnolvlni; the. 1 don I'nciflc sys
tem the blinds nilvimced from Ml in H and
-peiiilliitn e Interest hss sirice attached
in them beiMiiHe of the po'Mbl'ltv that the
bonds niinht be ciilleil In the coiire of the
sepursMon of Southern I'liclflc from I'lilmi
I'nitlli' Ihe lionili are callable nt par
on sit month notice, but th" reoreamn
iioti coinmltiee tins conldered tlmt a Ion
epcnl1u lllsllioil of illsposlinr of Ihein
Ii ha ben ingsested lntend that the hol ds
be transferred In somn uny amply pro
tecMnc the hondliolder and nrnldlne the
cvpenie of rellrlnif them nt par. but no
fortnnl Hdlon on the suifsestlon has been
I'nrtlier Delsy tn Minnesota ltte ;
The T'nllcd States Snpreins Court met
and aif'ilti adjourned without in Hon on the
.Minnesota rate case Th court will not
reconvene until Fehrunrv 34 nnd Interest I
In the rnllroiid rate situation wl'l probablv
centre meanwhile on the negotiations be
tween the nmnsgiirs and employees of the
Eastern roads on the question of the fire,
men's Bases. The Minnesota rsle cae Is,
In fact, but one phaso of a broad situation
Involving the rates for transportation
The question of tlia ability of the roads to
Increase wapes without Increnslnr rates
Is quite as Important
.lannnry nn the Kirhange.
I he decline In the price of Stock HichntiKe
sests io His lowest level In many ye.irs
coliicldes lth a period of Intenss dulness
In th stock market ftock Kichnnit"
business last month, Includlm; th" clnsinc
week of comparatively actlin ilmilinics,
aerni;ed less than at any time since, .lime
slid July The nh-ence of the traditional
laiiuan rle in the siock mnrUet ilurini;
recent ears 1ms not been n matter of great
disappointment, but It Is a lomr tlino smco
lh" Wall .Street brokerage frnternltv hns
dons as little business during the first
month of the calendar year aa it. did during
January Hut whether or not thero is
any dlrcrt relation between Ftock market
activity and the state nf Intense gloom
ui Stock Kichnnge circles that existed
ilurltiB January, It Is evident that the In
creased aotlvltv In the closing days of
last week was folloned by the development
of a decidedly mnro optlmltlo spirit
lo it may h noted that a rumor that
a Mink r.ichange. seat had changed hands
at SW,iki. which first appeared last .Satur
day was ajaln circulated yesterday In all
Commission llonaea More 'hrerfnl.
Th" day to day Isttnrs of the Wall Street
commission houses plainly give evidence
of a disposition to look at thlncs In a more
cheerful manner. von If the chancei of
an Immediate boom In stock prices is re
mote). One Arm even considers the possi
bility of ii "January rise" somewhat d
la)rtd, and seeral venluro the opinion that
with the llnlknn situation and ono or two
other uncertainties out of tho way we may
witness a broad upunrd movement In
prices during coming months Tho tone
nf the majority of theso epistles Is some
what hesitating, hut In all cases there is
noticeable a rovlval of spirit and a ten
dency to regard the future as not qui'"
so black as I' has been p'lin'ed
stniulHril nil llcannrcra.
'Ihe Ktnndnrd Oil ( ompany of New Jer
sey divested Itself of thirty-four subsid
iary companies on Dei ember 1, mil. I n
der the old recline this company acted In
the nature of a banker In Its subsidiaries
I lie tulaucii sheet of liKm showed "accounts
lecelvablii" of Isa.tKT.AM which was mostly
ii'iuefonted by loans tn the smaller cntu
paniet. At tho tune of the dissolution
mi. h ndvauees. and other loans nero cal
culated to reach tinu.nnfl.nno, or lust about
equal to the entire capital stock of llm
New Jersey corporation hlnro the dis
solution there has been a considerable
liquidation of these ohtisiitious between
Ihe dlfleient comp.inlce I he, lesult has
been to place the Hlsndard Oil of New
.leisey In an eiliemely strong position.
Kurnliiifs ol St. Pan I t yet era.
'I lie December earnings nf the Chicago.
Milwaukee and St Paul and the I'uget
Hound division wero officially combined
for tho flrft time, being inpnrtcd under
tho heading St Paul System December's
showing, though somewhat less favoinblu,
especially in the matter of net than In pre
vious months, was still such In the opinion
of many people as in warrant oipentations
of a restoration of the old 7 per cent dlvl
(lend before the cud of the piescnt calendar
yuar Dividend meetings nro In March
mill September Last March the rate of
distribution was lowered to b per cent.
In the first ell months of the current fiscal
vear the combined earnings nf the St.
Paul and the I'uget Hound division havo
Increased Ss.744.384 In gross nnd Sa.nnt.734
in operating Income nnd are running at
the rate of about 0", per cent on Ht Paul
, .lanaary Bank 4'learlnaa.
,'llie reniaikiilile expansion In payments,
thioiigh the banks us reflected in bunk
dealings of tho closing month nf I0U nt
practically nil lending cent res of the country
was fairly well maintained In January, the
total, according to statistics compiled by
II (1. Dun A Co., which Include returns
from i:s cities, aggregating SI,:7,7Vl,":a.
un Increase of 7. !i psr cent, as compared
with the aame month last year and of 13.0
per cent, computed with the correspond
ing month In 1011. Kvory section, except
New Kugland, into which the statement ia
divided shows gain, und in some, notably
the Houthem, Central and Western States,
it la very large, reflecting olearly the main
tenance of commercial and Industrial
activity In every direction, Although com
parative dulness was a feature in the stock
and other speculative markets at New Vork,
that city reports a gain of 5.7 per cent
over last yair and ,& per cent, over 1011,
Indicating a gratifying vnhime or transac
tion in ordinary business channels, while
An Assurance of Safety
It is an assurance of safety to the indi
vidual to conform his investments to those of
the large Life Insurance Companies, which are
among the most careful, shrewd and successful
buyers of bonds in the country.
We shall be glad to send to individual
investors, upon request, offerings of bond issues
which arc legal investments for Life Insurance
Companies and which these Companies own in
CLARK, DODGE & CO.
Wall St., New York The Rookery, Chicago
Brooklyn Trust Company
Member N. Y. Clearine House Association.
Capital, Surplus, and Undivided Profits, Over $5,200,000
Main Office, 1 77 Montague Street
Bedford Branch, Fulton St., corner Bedford Ave.
Manhattan Office, Broadway, corner Wall Street
The Brooklyn Truat Company is the sixth oldest in the
City of New York, and the oldest, by twenty years, in the
Boroatjh of Brooklyn. Its strength and conservatism insure
afety to its depositors. Its long experience in the execu
tion of various trusts commends it for appointment as
Executor, Trustee, Gnftdiaii er Administrator
the total of all outside cities Is a per ent
mid 17 ner cent resnee'tivelv lsrper than
j In either preceding year. In New Kngland
bank clearings at lioaton show some con
traction, but most of the other cities re
port morn or less Increase, and the sec
tion as a whole, as n result of the favor
able returns from Springfield, Worcester,
l Hartford, I'rovldence and other centres,
m.tkes n falrlv satisfactory comparison
i with both 11)15 and toil. Pronounced gains
. at Philadelphia, llttsburg. Scranton, Head
ing. Ilingharntnn, Rochester and almot
all other cities In the middle Atlantic .States
reflect the stimulating effect of activity
In the Iron and steel trade and nearly every
Important Industry, the total being con
siderably In excel of either last year or
two year ago
THE CURB MARKET.
i Outalds of Standard Oil of New Jersey,
which Is llrted on the curb, there was
very little trading yesterday The oil
stock sold up to 41? and then reacted
to 130, closing nt Ml, The other In
dustrials were dull. A few hundred shares
of I'nlted Cigar BloreB chnnged hands
between 10? and 10S4. Itrltlsh Ameri
can Tobacco dropped fractionally and on
transactions were reported In Tobacco
Products preferred. Manhattan Transit
wnji fairly active and n shade, higher
Trading In mlnlnB shares was of the
most desultory character except In a few
of the minor Usui's. Net price changes
were usually Inconsequential. A light
burlnesa was done In bonds at slightly
Transactions In detail in the market
yeaterday were as follows :
Open- llljh- Um. Clue -Sa'.ca
Int. rat rt. tag
Tfrt) Alaala OnM U ll'j It' ll'i 14"
7W Ileuto fiotrt t)r. U
Ito llrssle Hold Dr pf
sn lliadrn Copper t",
4H1 Illg Kmir M
sin nrit-Amer reb '.'4i
ton (' () I) Con
4Vi Can I'ac ru In'
llin llli Ill.icW lltitir I
Wi llaN Daly Cop. 1'a
S.'l Kreerscn llrant M
:mi IM l'ao Cn '4
Urn 1 ' 1 con 12
:'ii I'loieni e 4.1
IV) tirnux Mining 3
:1 llalltaj Tonnpah . l'i
iUm Jun.bn Kxten,1on. 32
II w u
b' bl, l1a
M l u
14 IS'v l'j
I 4 4
11a l'a 1'
fA'-j es m-t
i: i: 13
4.1 4.1 43
3 1-IS 21a 3 1-1(1
13-18 l' 13-11)
33 3: 3.1
tin) Keir lair 33-1S 33-IS 33-18 33-16
4ii Uaj (ill :i :s :s -.'3
no Man Mhlrt Co pf ift-ij w-, wei
tl Han Trail 1 1', M, 13-18
Hi) Miilsslnn Ml Co . ! U V Ii
.'i, l Nraila Mill' U, l, 1'. M,
;u) Nor Unite Her 3 18 h is l is t ie.
IMii Ohio I upper . , 11-18 13-18
Mil I'uchla Km A Hit 2! :! :' 2!
ai Hum (111 of ,V J 43: 4M 430 4.1S
;u,Slcarl l I 13-16 1"4' i,
4im Tnnopah Merger S7 ss 7 7
vm Tonopah Ilxten 5 '.' 3 2
) tin Cigar Ntorn lo1 v ina ma
.'rt) p s llatr pf lo'i io I0lt in,
Win Wettlaufrr is 30 IS :n
:,VW1 West linil Con 1H m t 11
linen 11 n T h". noita. .ifij, osn-ia MJ, wii-in
fail .VYC 4', IIMO.III-8ia)l.aMH.Rul.6
rami Y C 4'a IIKL' . . IH Mt PH Mia
ijint N & VY Con (Ijl. lOPi 1071,' 1071, 1071,
:umu WcMrm I'ac ,'n 87U "''a "'t
CURB STOCKS CLOSING.
Mid. Aakcd. Hid Aakril.
Allied .Serurlllra . M li H I .'
Am Writing Taper : '.' 5",
Hay Ktale fiai. . ij B IS , 11 is
llrailen. u', 0', Di m,
llrlllib L'nl Copper t'i 4', 4' 4
llrlt-Am Tobacco Si1! SII4 '.'4a 31'a
(ilroux . 3 .G .1 3 1-1 n
(irrrno Canauea HI, ST, H hi.
Inter Ituliber K s u't
KrrrlJikr 31, 3S-1S 33-10
lhlgh Yalley Coal,. 370 '.'30 r.'il iUI
Ia Hi'ff , .1 si a n'i
Mines Co of Am a', .1 Vt
llaaon Yalley K, 11 I'.j u
Manhattan Tran. . 15-18 11, 1 s-16 l4'
Manhattan Shirt. a m (3 M
Manhattan Mhlrt pf . . . ta 1(0 103 IU3
Marroul of Am new. . ti A (H tu
Nevada lllll" 1 17-IS Hi 1 7-10
Nlplaalng Mines. . . . H tn 0
Siandanl Oil, 1170 11 HI lKo 1310
Tohacco I'rod pf U3 U7 l. 117
Tonnpah Mining .v,' a tu n
Cn Clg fit Co of Am .107!, Ii HH os't
I'n Clg Hi Co of Ampf . lis' 3 nsi, lie1) u4
Yukon (lold .3 J'a 3
llroilrn Cop r, (go im pai in.s
llndrn Cop 7n IW lirt 1111 im
II T 6Ti noira. lis', 117 laM, iif
Canada Smi aa... Iii7l lull m;U 1071,
N Y.CIty )a wH wsi bvh Wl,
I Heavy Decrease In Visible snpplr
rntases (.nnd 1'ptara In I.nral
The feature of yesterda '3 coffee
market was the record brcnklnc de
crease In the world's visible supply flB
ures, Culilra from London stated thut
the decrcuso aBKreKutcd S3D.0C0 bacs,
while tho statistics compiled by the
New York Coffee KxchnnKo showed n
falling otT of 19.20; buits, compared
with 4.I8.7A6 baRs for the correspondlnir
period of last year. However, bulllshly
llicllnt d people said that this was morn
than offset by the ery laruo Incronso
of 1 ,2 a 4,01 a luics on November 1 last.
. AccorilniK to the conyillntlon of the cx
ch.mi?. the total vlslblo supply on Feb
ruary 1 was lS,t!)9,77n baits, contrasted
with 1.1. 419, 03" on Jnnunry 1 nnd 13,-
lAd.lSA on Pcbruary 1. 1S1I. The past
I month's enormous decrease Is accounted
for by the heavv domestic nnd Kuro
penn deliveries, against which receipts,
especially the milder grades, were ex
I After opening steady, with first prices
1 ehowliiR Kalns of 1 point on Jnnuaiy
I nnd .1 to u points on other positions,
the local mnrket bad n substantial up
turn, particularly In the near montlas,
which wero supported by leadtnir bulls.
Other factors responsible for the up
wnrd movement wero llsht receipts nt
primary points nnd larpn deliveries at
homo und abroad, ThrniiKhout the day
offif I tins were extremely small and the
undertone was firm, with lending op
erators bidding for rather liberal
amounts of March and May. European
Interests itKnln sold December throuRh
out the entire session. Kurope's centres
made a very poor showing, but theso
were offset by better cost and freight
offers from Brazil, which were about
10 points hlxhrr
Hpot di'iunnd was dull and with fu-
Hires on about n parity with the market
I for spots the spot demand Is believed
j to bn the key to the situation.
Miller k Co. said tbnt, Inasmuch as
firm offers from .Santos wero somewhat
hlKhcr, It begins to look as If that
market was bailod out of weak hold
ings and that such ail Important techni
cal condition mlKht easily onnuKh de
velop a much better lonkinir market
Havre showed a net advance of ut
tr. for tho dav, owIiir to tho largo de.
crease In the vlslhlo supply, while Ham
burn as reported as not uilchaiiRi'd
t" ' lift; tower nt the close. Itlo was
without 1 liunKc nt TtUOO, with HanVos
' r.01 1 els hlKher for 4s nt 7f00, nlthoutth
uiichiiiiKeil (or 7s at 7J100. Yesterday
J afternoon's Into cable from tho lutter
' cetitro riinrt"d tho upunlne 11a belni?
htciuly und without further chaiiRc, lli
IcelptH at Itlo ueie s.000 baits ami at
Kantos 1 4.(iilii. 11 total of 1!:,A0Q linun,
nitaliiHt 14,(101) at tho corresponding time
last year. Kim Paulo took 14,000 and
' Jiitullithy S.OOu, contrasted with 0.00H
land t , 4 1 11 ii lums, respectively, at the snnni
! time in 1111'.'.
' Dellvi'ilis of Tlrazll coffee nt Xew
Ymlt on .Saturday nKKreirntcd 8,1 Si
. lums, compareil with 19.10II 011 Friday,
I nnd 7,65 ( on tho same day Inst ear.
I For the past wccl; deliveries nt this
port totalled V,,!!?.', baits, iiKiilnat fc'.i,-
iC.1 In tho piuxliiiiH week nlld 71,189
In tho correspondlnK week of 191!.
, Prices follow:
IS S7J 13 :i
13 5 Hi II ul
13 6.',fi 13 li'l
U rag 13 71
II 7S(ll3 Ti
II Mil 1.1 :.
11 :,i!t 19
I. 1.7611 13 7i.
IS 7101.1 IJ
.Mm rh. ..
There was lienvy kcIIIiir of provisions
early In the scbsloii, but puckers rami'
to the rescue nf the market and with
extenslvo buyiliK forced a rally to above
Saturday's final levols, hobs were rtrni,
with iccelptH of 31,000 expected to-day.
Cash provlHlons were stendy, Huppllea
nro still sinull und transactions con
tinued nn a minimum scale. Ileef
I'ackst, I22tfi:3; family, HMO IIS. Fork
Mess, timlllUO; family, $22MI.G0,
Lard wan also steady on small dealings,
l'rlma Western was quoted at 110,55.
refined Continent, llO.nDi South Ameri
Open Huh Low
1'orkt ins. rai eat
Mar . 1 In 1 vo l 17
julv . mii: iii :.') 11 1;
May 111.'. Id 53 10. 1
July IP T' 10 JA It) K.
May , hi !' 10 .'S l'i If.
July.... . . 10. Id lf.:0 iv 1'.'
Huear The raw i.Kar
iii 1 In.,'
11 l Ik 0;
i" f. in c
II) Si'f, 10 n
10. :i 10. u
The safe and profitable Investment of your money n a moit
Important matter. Money Is too valuable to risk In unsound
Investment. No securities should be considered that do not
possets the fundamental quality of safety.
The Dond Department of thli company will ba glad to flva
Uffestlona and advice reRardinu investment, and you are cor
dially invited to make use of this service. At the present time
we have a selected list of railroad, public utility, nnd Industrial
bonds yielding from 6 to fl wlnrh we recommend for con
servative investment, particulars concerning which we will b
glad to send on request
Ask for Circular V 201.
Guaranty Trust Company
of New York
28 Nassau Street
njfc Atmus Branch, L.nd.n Offic. Stindiril Stuck
SA A. J. 43d Si. SJ L.nbtrd St., E. C. 25 Bred Stittk
Capital and Surplus . . . $30,000,009
READJUSTMENT OF DEBT OF
HUDSON & MANHATTAN RAILROAD COMPANY.
To the Holders of the First Morteage Four and One-Half Per Cent. Bonds and of
Preferred and Common Shares (and Votinc Trust Certlficatei) of the HUD
SON & MANHATTAN RAILROAD COMPANY:
At Ihe request of holder, and representative" of a l.irqe mnlorllr of the a'mre
bonds and shares, Ihe undersigned have caused to he mnde bv independent rninpe' en",
experts an examination of the propi rtlei, earnings nnd financial 1 ot.d.lion of llm lliiilrci
A Manhattan lta 111 oh cl Company 'llnse repoits Onm Hint the HuiWon A Mfitihii't'i'i
ttallroad Company (ins not earned, and Is not now e.iriniii:, the full tntereit iit"n if out
standing First Mortgage Pour and tlne-llnlf Per Cent liomli. It, therefoie, i imio".
market securities to provide funds to pav Hie m-1 of Improvement niu! betterments. 11"
has It the funds to pay surh of Its car trut obllKntion as nre npproachlni: inaluritv, 11111I.
iinleaslts fixed harges arc reduced through the m 1 1011 of Ihe bondholder ami the neeile I
funds are furnlhrd by the stockholders. It lll lie lmposibIe mucoid ihe forei lours of
the mortgage securing the First Moituage l our nnd One-Half Per 'ent lioiuU
The undersigned hove aicoidingly formulated i plan for the re,nliuiicei ' nf ihs
debt of the Company, dated January 14, lain copleof which may lieohlniinl frii 1. 11 ir
anty Trust Company of .New YoU, the Dcpnsitarv under Ihe plan', 'lin h In been
approved by the holders and representatu e of a majority of the First Mniigagr I .isl
and One-Half Per Cent llonds and of the I'ref rt red and Common .Share of tie ( omp.inv
Said plan provides for the surrender of the existing First Mortjagc Four nnd
One-Half Per Cent. Bonds in exchange for one-half of the principal amount thereof
in new Five Per Cent. First Mortgage Bonds nnd the other half in new Five Per
Cent. Adjustment Income Bonds and for the payment hy stockholders of 58.50 fo
each share of stock, for which payment the latter will receive new Five Per Cent.
First Mortgage Bonds (or scrip for fractional amounts) at the rate of $900 in such
bonds for each $1,000 paid.
The undersigned have further agreed to form a Srndleate to purch.ie from the Hurt
aon Companies the New First Mortgage Tlonds and Adjustment Income llniuls whl li I:
will receive upon the consummation of the lie-adjustment, in order that It. may be In .1
position to take up lta outstanding collateral trust notes and participate in the Tlau of
The undersigned believe that the plan is fair to all Interests. It should be
promptly accepted with substantial unanimity, by the holders of the First Mortgage
Four and One-Half Per Cent. Bonds and of the Preferred and Common Shares nf
the Company in order to avoid a forced reorganization baaed upon th: foreclosure
f the First Mortgage.
Bondholders and stockholders, to assent to the plan and become parties tn
the Readjustment Agreement, must deposit their bonds or stock certificates or voting
trust certificates with Guaranty Trust Company of New York or at its ageucirs
in Boston, the American Trust Company, and in St. Louis, the St. Louis Union
Trust Company, on or before February 14, 1913, after which date no deposits
will be received except with the consent of, and upon such terms as may be
imposed by, the Readjustment Managers. Alt bonds deposited should be In bearer
form, with February I, 11. and all subsequent coupon! attached, and all stock cer
tifloatea or voting trust certificates should be endorsed In blank or ba accompanied by
proper Instruments of transfer In blank.
The undersigned will, if desired by depositing bondholders, advance to them
upon their bonds, at the time of deposit of the same, the amount of the coupon du:
February 1, 1913.
In rase the said Plan ef Readjustment should be abandoned and a modified or uh
atltute plan adopted by the Readjustment Managers, at least thirty days' notice of lh
terms thereof will beglren In the manner provided In the Readjustment Agreement, and
depositors of bonds and shares will ba given an opportunity of withdrawing without aur
payment for expenses.
Ksw Vork, January u, ills.
KUHN, LOEB & CO.,
ROBERT FLEMING & CO., (
HARVEV FISK & SONS,
New York )
firm, with buyers on tho bnsls of 3.4S
cents for 96 test centrlfUKal, but with
holders generally asking 3.5:1 cents.
(Icneral business In refined was mod
erate at unchiiimed prices, with the un
dertone about steady. Leading iclmers
continued to quote 1.S0 to 4.10 cents
for Kranulated, but wero dolni; :i little
business at the former tlKiirc.
Stoclis In the United Htntes ntid Culm
together are 17(1,791 tons, compared with
I 101.615 tons last week and m,'.i7H last
year at the corresponding time. MocK.1
In ICurnpe show 3,873, "00 tons, nmillist
l,,G37,000 last yenr at this time. At tin
present time there nre lf.,1 centrals nt
work In Cuba, contrasted with Ifjrt at
this time In 1012, Weather conditions
In Cuba, Porto Itlco nnd tho Hawaiian
Islands continue excellent for the irrnv, -iiiR
THE CHICAGO MARKET.
Ciiicaoo. Feb. S. The local market to
day was one of specialty movements, show
ing an Irregular tone, the fenturo being
Qu-.knr Oats common, uhlch rose 9 points
from Its previous salo nf last week.
Hears-lloebuck nnd the Can stocks re
flected prnllt taking, sIiowIiik net losses
for the day of about 11 point, while Dia
mond Match was fractionally higher on
account of the extra 1 per cent, dividend
which was declared Saturday. Chlcniro
Hallway "n wero In good demand, a num
ber of email lots clutiiKihK bunds nt -.1.
The Isiiid market broadened nut con
siderably and showed a firm trine
The summary :
linen- lllirli- Uih- ("I01
Inir cm ci Inr
Al'l Am Can 121. 4i 4iU., 4n-,
'.'in Am Can pf 1271, 1:71, U'r,', r.'iUj
24 111TVI ATel
M lluntll f'Uh
M Chi I'neil Tool
in ( hi lly arr I U2
U ( 111 II) M'l 2 '.'
HI 1 111 lly arr 4 . I I I I
10 Chl'l itle A 'I I 701 '.IN ?l V'ns
4S Comniiiuw'lli IM .H7' i li-"j tr.", lu",
S Corn I'iikI ir it . IM-, ill, is 1;,
as lilamnml llaiili no", nn1, no 110
Ol lllliinlk litU'k .. 7:ii; 7:11, 71 71
lai Nst Cuiiiuu. . nn 1111 mi 1 tu
113 Oualirr Oal .'M VK 2.'.i 2A2
It. Oualcr Oala pf 11MI4 insi4 na. lurtlj
!S .Sran.nuebueii 307 3n7 Sidi, :'iit,
1) !4iftk inatf lnlij iMi4 lns4
410 I' ,s Hleel. (S SC, SI l
74 Union Caihlile ..Mui 1l ll tin
Woulivoilh . IU1T, 111.11, ins', liu',
I'an) Armour 4' IU, iil till, ml,
ViaiM City Hi 6s, II)44 pin, inn, iniij
Kill) I'llV ft C y (it HA Ml HS hll
1 10m Chf lly 3a li'. !'''. im1, lull,
torn Chi Hy li sa' wi' sa' sn',
3(iO CldTrl 5 Hill, lull, Hilii 1ni4.
Mum Conm'tli Hlen f,. ncl! I(r.'lj liclj lic'l.'
sum Coiiiwili 1 illmiij.iivHa imi k nn mi
.) (Udrn (ia lin ili liA't I"'1 1 us ,
lauil I'ntllc Sic fia ti7i, lila id'a '.HI,
Canadian Com Huhliar.,,.
('rown Iteaervr.. ,
t'etclt tlnllisl lly
thnnlnlon .steel Corp
Monlrral I. II I'
Nova hrotla Mrel ft Coal
' (lirllvle Unur Mills
I unabwi lly l.t V I' .. .
inch Out Nav
Miawlnlgan W A I'.,
Mrcl Co nt r.'anc.la
Till: CITIZKNH NATIONAL HANK, located 11 1
1'orl Allegany, In the Stale ol 1'riiin.ylvaiiU I
closlnc lt afTalra. All ante Imldrni .ti.it oilier
rrcitttors ef the aaiorlation are therefore hereto
untitled to present Ihe nolrs and oilier claim
for im mm 1.
I December j:th, 1012
1 C A Dol.l.UY. Presllent.
ELECTIONS AMI MEETINOR.
Ihe Nouthweatero lelegraph and Telephnaa
a . nil,,
No. Ii Dc .sireei
New York. X . I'cliruary 4th, 1811
TH Till- .ST(l'KllllI.Ii:it.S
I S'm Ire Is lirrihy glirn iliai Hie Annual Mreiing
of lie .Siiickliclili'n, of The .Soutl.uesti'rn Itlr
vrnili mid 'I cleiiholle I iuii.iu "III I, a helil at
ll'e ofllee of thi- rmnp.'iu r.'o 1.. Ilrv :i icm
lliiriiuirti of Manliaiinn. I'll), of Srw Yi.rk. N
on Ti.iwlay, 11,11 inn il.tk nf I'cliruMiy. llli.n. at
' li'ii o'clock In lie fort noun Inr lllu following pur-
I To fleet director for the rnutue ear.
? To transact Mich nihrr hiiblui-si aa ntav
properly comiv lirfnn Hit- Mm MinMeri
.1. )'. CUOU l.l.-V Meorrtarj
A MKirilNti of the .Siwl,liii(1er of tin Mulil
phac Motor Company will bn held nt Itic OtBcei.r
the ( oniliauv. No. IC.'i llrnailwnv. In ftm ritv
County 111,. I Mate of Nt York, on Thurada)
' I ehriiary ?7 191 1. ,11 IJ u'rloek iinnn, for Hie pur
1 poe of Miliiuiarllt illsulvluir i.ld rorimrsllun,
unit 11, uaiiMiui Kucii iniici nun runner ouainet
sji may come before llie merlin?
C A TlrKHY. rresldrnt
JOHN .1. JACKSON. Secienir)
The Annual Merllnr nf ihs Htnriihniiiar nf
1 The New ork IMIon Company for the elei tlnn
of Directors anil lnpi'Cior of Clccilim for the
niMiuii; rar ami rur ine iranaacti.ni of aiirn
other bualiifs', aa may proiierh' come before th
lurt'tlni:. "Ill he held st the untie of Hie Com
liany. No M liunne nrrel, .Sew York City, Tuea
ilac. l'rbr'jsr 11. r.H.1. at t: o'clucL noon
I.KWIS II OA THY Srrrriarv
Ihe I'rearent I'lpe Line OiiiinanT,
333 I'mirtli i iiiie.I'ltutiurw'li.l'a., 1 eh. 1 1013
A Dividend of Our I'ullnr ami rlfiy Cents ill tci
per (.liare h.i hern ihilnrrit on Ihe capital Hon
of Oils Ciiiupaii. paiablo March IA1I1, lull, in
Ktoi-Ulitiblt-i of record nt tho cluae of huilueai
Iclnusry :nih. lint
Tor piiriioacs of lhl dividend the transfer
hooka u ill be iloaeit from 3 I' M l'rbruary toili,
lo PA. M. XI11 nil 17th. 1013.
All cniiiiMiiili'iitluiu irgardlnc payment nr
change of mlil 1 ci-i should bo ent to this otflre nol
later than I rrirtiary Mth, 11)13
( HAM. 1. WILLIAMS. .Secielarr
MACKAV aV .IOHNSON.
The cn-partiie rahlp licruiufiire duliit hualnraa
In alofka and hnnils iiiidrr Hie iifnrcsalii nsine
st 13 Wall al., In llie (lly of .Sew York, has nils
day dlMilved by 111111u.1l I'liiiri'iil.
Dated New York, Jan I'silt, 'JI3.
hlirned t'll Altl.l.s l' MACKAY.
WIISTIIKOOK I.. JOHNSON
ni MisKHs orroitniMTii'.s.
ROAD HOUSE AND GARAGE
Blur hale, -On mala load to l.uka llupai
c unit, New bullillns. 40) autua paia dally
lleaaeoabia terms. Addrria
j. (JKOlKii: II. niAltK
U Irl, lUlCnrl. I TO llroailna.
' Wall Street edition of Tiik Fvlm - u
S - .ml ui its all the nii.iiicinl news ni.d
III. ' cl. und bond quotations to tin clme
"fin ''.11 mi The clilin; iiiiol.Kiiius ' i
1 . . . 1 .it- bid and linked pin i n .1
udihlu ill iieiis null". .111 1 oiitiiiiiril nlr
in tl" NitUit Final nnd Complete I'.ual
t-ditluru of Tut: Ii.Kiru Hun, Adv.