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FRED'K F. MARQUAND Mrrnher of Conaollilated Ptoek Ex. of N. T Tel. S030 Brnnd *9 I.road St., X. V. STOCKSAND BONDS lor Invrntment or on Mara'n FRACTIONAL LOTS Wm.A.Read&Co. Bankers 25 Nassau St., N. Y. BOSTON LONDON CHICAGO CHARLES HEAD & GO. 17 ?KOMI BJ1 , STEW *?<?HK (V. t 81 mas ?i? atora -?Beaten Stool? Exchanga li'.;.id of Trade !??'? it? wire eon lections to our office? In Boeton. Pre prli etpal Canadian siocic? n ?poclalty W.N.COLER&CO. i m I] .:.?;.' , Investment Bankers i CEDAR ?T.. NM.V lOIlK CITT. Ka l ? la All laaesa Boyer, Griswold & Go. Bankers 42 Broadway. N. V? K pa? g auaaestiom _jt *' ?''i"*" J. C. WHITE & COMPANY. Inc. linjrincer?* & Contractors Investigation of Public Service Properties, Steam Railroads, Industrial Plants, Etc 4.1-49 lirliango Place, **<****"> York. ? lit, aft?. III._San Iratiriw.i, < al RANKlSi; INTKRKST 5% INTEREST Allowed on amounts from Sid m {1.000. ?Daposit* made on or before Jin. 15. draw Interest trona Jan. I. $100.0<V). on deposit with ths State of N Y. We are eatei m: (.ur72d year. Bankins by mail to meet yoor ?sosvenlssee ( ? ; 4 ttrekman t I.ARM BROTHERS. Bankers ?8? tkmmm St. (Tribune Bldg.l Est. IK40 DIVIDEND NOTICES. FOUNOCD 1803 217th Consecutive Semi-Annual Dividend THE MERCHANTS ?NATIONAL BANK ? ...\i:-ii\i.F I'l i: ? usry 8 I . ONTLM m M P?P1 B lH'? ? 0? 17 I '1 l 4??h i rien ruth ii piefrjrreaj alack rat*/HU**ad ? k lui s 1 . . ? . ? :? ? I. 1811. tO i ?? ' of v - r,?>. I? ? ??mim \ i \! PAPER BAG t O.. 17 - ice, '.?".tit i ?ii?ei m ?v ?* . ?.min..ii ?lock illviilend. rl ? ? ma;.' ? Ml K? HAN'T*? l \< II \n?.I NATION ILBAN'K ?f I he ? ilv i.f No? \orlK. IS, 1811. day de? ad ??r THREE PEn ?? r Jan . at the ?. :.'. isi i IIAMBIEK. Cal ... v|,. iiik.iii Mout hem Railway < <?. ? ?? . 20, 1811. : ? | | ' Of ?-1 X ' - i dlvl ? r sin i-i.i. non tha 11 i, 1811. ? Uvilnnil, ? m? ?iiinill. Chicago A St. I...?i> Hv. ?... ' ON I ?'. ? - ? ' k p. M on i rlday, i ?? ?. I I I ION I III -I ? II l?l M \\ MIRK. 1911, ! ? ?>.!. iteea, a ? ? " .?i ? southern I! lihva?, < ?. . ). ion 1 impany I I of ONE - !? I ? nork hold? r M ' 1911. f'HAl Mi< hlgan ? enl? il Ba Ire id i ?>. I. N. *i i ? ?ve I Ml I ii ?-i \i i .. i.i \i;\\ i i i COMPANY. ? ? ? m \\ I -I IN?.Hill -I tii-nrii a Maaufactorlnn t'ompem nt ' . wrlll 191: ? ?" i:.?i ? ?ll\ IN\ I *x| IM. ? II'IIIM ; I '??II FOREIGN FINANCIAL. ?? I " ! t ralla. i ilk of t i . \ ? ? . i r> Hal I ? : ?Using. 3 i at 94 I I t ' [THE CORN EXCHANGE BANK! Organized 1853 ' * I Inaugurated Branch Banking 1899 ? 'Hie branch Rsnting system pledges our Capital and ^urplus of 2 ? $8,258,000 and other Resources of $70.624.0J0 to lh<* prolection and ? t assistance of every debitor in every brama ? [ William A. Nasli, Chairman of the Board <* t Walter E. Frew, President J \ William H. Nichols, Vice-President n * vi h IOf.lt, Dl 1 I MM ? IBI . Y CONTINUED IRREGULARITY IN STOCKS ON LIGHT TRADING NEW YORK STOCK EXCHANGE SALES-THURSDAY. DECEMBER 21, 1911. I sold | g< v Xllls ' "hHlmei s ? '..nu. mV Amalgamated Copper ? ? i Ml - . ? - ?? : ? i " ion An - . ??sin : <~>|. HI Low l-in! Ml.I Ask IS I-a i' ? . ' ? , '..'.:. A merit an Vm ' 'hemlcal ? . ? . ? American Re? ' Sugai ??"?'. ? - - '- . Sugar | S? 95 vt.i.th m Can ... un ins io% ?? in pr. ?'< ? '?" ? ? . .. \m. i h an ' ai A i'"ipMir? ?4% i . i Am? rl? -"i ? "ii..n < "i ?'?'. t7\ ??'.'. 17 t4V 17 American Ltnse??d pr ... American l.ocomotl?-a .K i , ? , ??', ..7 A mer I. in Smelting . 71 7;,'. ; -, 74% "IS 7T, Amer!? un rel. <f? Ta - l - W3S \ 101 \i ? ctfi '".'.'. . 103% ?i -mi Woolen pr. ?7'., ?.? ? ?, s7 M R7\ ' ? IAmerican Writ Papei pi R% ?;. 2f>%l 26% 7% "?Tk ?".li.!.?'.' ' ? ?.i.'.. n ; 6% 106 1 ; ?. . ?? ? li*' ? Atlantic ('???ist Line. l.'?'.'.'?> 135% nt'.. 134% 134S r ?'? i..." pr. 104 loi i"i * vi Haltlmor? ,v Ohio. i?v''. I0.i% 103S I03S 10CI Rothleh? m Steel. >\ :.? SO' Steel pr v. ' 60S .v-i . 90S Brooklyn Rapid Transit.... 77'4 77:. 77*? 77'. 77 t:\ ? Pa . .240% 34?H . 240S 240% 340? - '< nti ..I I.' .it' . i c< ntral Leath? r ;>r. 93 92 I ? , A- ??hio. . .r,m Western_ ISO lx ? li h. c.'. at Weetern pr. \ Chicago, Mil. .??? st. Paul.., ? 'lileago, MU. \ St. P. pr.. 21U? 21S 21 -':i 12 7.'.% 71', 7?% 74% 7-' 19 v? ''. IS ! nos no% nos nos nos ?" 14.-, 145 145 14*. 11. ? o ? : . ? r. 25S 26S 2 >' 26% Vi , Colorado ? South. Ist pr... 76% ? '?'? "6S "'?'?? "'?'? Consolidated ? la?. ISR?? i:>\,i:M, 138% 13SS orn Produc?a Refining... ios IOS IOS IOS IOS Products Refining pr ~: 77 I? . I. ? *?V., <-\ ?liv V.r.... MO "i'1? i>f?n\?'t- ,v Rio 'Irande. Rio Grande pr.. 43? US . .. '. . ?o. ' ' ? ?Securities... B .v At pr. l?fi\.i <v I ?istllling Duluth, S Erie . Brie Isl pr ? . ;? neral Motora pr Ooldfi? Id ' - 78S IS 540 18% ? 17'-. 43S - 17' ; IMS 1 ?<' 78t? ,?: S " r .?.. i?S :::?', 31 . 171,, - ia% IMS TU, - ? 76?? 520 18% 39', 31% 17% ? ? 31U, 17?, -.:?'.. i:.:;'.. i:,: , ? i 87? northern pr. 128% 128% 12*% 128% I.?1, 5 V. 141 140 15?, i:.\ < ireal Northern Ore 'ir' il..ni. stake . 87 87 .Mi 141 . IM,? 15% Intel ?l- tropolltan pr ? 48% 19 i.it. mat ..i... Harvester..., li"1. 112 Int? i national Paper pr. ??. i?'? I pr. ' Kins,!-- i Ity Southern.. ? l.aclede ?,' 141 15) WS 78 141 IBS UP i.; ' . .11.,V 18?? I!) I?-"'. ii"'. ins in ??. M 15? ??-\ 32% ... , 27%l 27S 27%] 28 H '-', 1...M, 105% |n.M4 |.C. 105% IM'-i IM'. ISO*?. 1 ?::?'?, |S3*?. 183% Slii" V' I Actual Bales. ? i???ln? r ?Id ' ?)?> Ml I.?'-*? 1'fiil MM A? ?? .', i.i.iii-vlll.' A NaMivllle r?7"-4 157*? |.v.'4 i:-?'?, i?'??', '' ? m . mnpanl? - ti ?2 SI'-. MS *?< ?1 I?) . \ Mar?n.- . 4Y 4\ 4 Y 4\ 1', 4 j Marin? p l*'t 19 iv4 l*S '*?'? 's Miami ion. Copper. 23S 23S 3?a 23S ?H "?? 100 % Minn. A- St I."in- i-r. M> ?I'M !<?-? ? '4 M . S? P. ft B. B. M i ?'. I?S r.'.'4 Vi:.'* i:c,?4 P.'? 4 Mo.. Kanssa ft Texsa ?v-,4 2?S 29 129 ! 29S -'? 11.'." 1'4 Missouri Paclfl?.> 39S -??. ?T?*? M'? K>S 39> 1..?? i,?i National l^??l . ... WS .'-? ''". ? ? ?'? ?"-? National of Mexico ?d pr . M' S4S M?*, 34 . MS ?*' . I. Nevada Con. Copper. 18 i*v 18 I9S i'"4 ir'' K?n -, New York, ?S n ,-v II. I37S I37S I37V? 127'? IT? , . il Norfolk a Western.I0*S 1<*S If?'?. lO&Sl?*1? .!??? m ?., Noith a i ? rar? :?'? ?ss ? ? ?'?? Northern Pacific.ll*S ii*\ M*'? 1K'3 I18S 158* - US Pa Ifl? Mall . :?"? ?1H ."'"?'4 31*? :'-' ?v ? ? ', Pennavlvanta Railroad... 123 I2IV123 123 I22S 123 :; r . , IhlIs-p. .??I 288 'joi ;.??-, |7S ::??? ?, P., C., C i?. S?. 1.. >?'? H*S ?U "'?'? r*'' :,,;' Plttsburg ????;.!. IBS is>4 1?', i?', IT'?j >?: - Plttaburg ?'"ni it. n M N ?S3 !? i'? Pullman Company . I59S IR9?4 IR9?? iv?i4 1RS'?, 1R9' ?O0 % JtallWHV Steel SitIhb;. 31?? ru ',. 31 "i ? ? % Rhv ?'oil. 17\ \t I ITS N 17'-4 IS 41,000 -', Uoadiiip .1R2S IR3S iris IR21 i.'.:'?.. IR:' i :><? i ?? Republic Iron s. stool. 2T?S :'.'7. 27S 27%? 27S! 2* \ Republic Iron ft Bteel pr.. ?'?'4 *?"??? v. v, MS ?'?', l Rock Island. iM?i in.. :-.:' 23*? 23S 23*4 1,100 i Rock Mlan-1 in". I5*i !.'?', r?', l? ir, 15 ', St touts ft 8. r. Jl pr. II1? 41'4 41S 11*4 H1? l!' 1,9011 14 Southern Pacific. 11.1 in1? ir.:-\ 112S 112S 113 Southern Railway. 20"?. 29S J9S 29S --"4 '-',1 M- IS Southern RallWS*f pr. 71', 7H4 71'4 71', 7I". il** Btandard Mtllinur r?".' ?>? ?'??',. M ?'??"? 62 ?"?4T? I? - Tennei>aee Copper. 37S -7', :::', 37S i7?i M ?,.?? 1 ! Texas A Pacific. 73 23 l!?S '-?|1- -'""4 '-""1 Tesaa ??:? Paclflc 1/1. Tr....! gj SJ aj M N !?* 6.709 . S Tlil.il Ave. Railroad. .'?% ?'?% ??"-, <-1? ?".'/ 6*4 I.*?! i?4. Tli!i?i Ave. Railroad, w. I. 38U 4""'S ::???. S9S -.-. 1. Ti.le.l... St. L .<? West.. .. IM-? 1RS 1:.' . 1RS I-". I 1RS m *S Toledo. St. i.. o. West. pr. :;?;?? r*7t4 .?.;?, .T7'4 w 37 tjnderwood T^-pewrlter ("o. !?-.'\ I??'1? 99% !'"?'. I00i4 loo' ? -, I'nder. T. Co, ?jr, en .1 l-\'i ii"-\ lio?, IKMLi I10*i ll'>'.4 112 H jUnlon Bag ft Paper. IS IS ?\ Mi ?\ '? ?-, i-iiii.ii Paclflc.I74S 175S i'-:"? I7*S i"'1'.' 17*S I?.! -., 1 ?lit.'.l Ry. Investment.... '???'? U 33 33 :::!. :??. ix itiiteii Rv. Investment pr. ?>S 60S ?;>'.. ? >' no WS " i" 8. Ctsel Iron P. ft F .... I?S l*S '*>'?? "?'- W 17 i..? u '' B? Rubber . M ? is -is tu ?8** R, Steel .?.?:. 68 68>4| 68S ,;>lj ,'v','< '. i. S. Steel pr . Ill1? 111'-. lll\ 111'.- 111?., MIS Utah foppeT. R4S RRS! MS ^?S :v'1? ?-"?'.? ', v/|rglnla-Car. Chemical. 5R4 B5S ?54S ?'? 54S *?? , Waba h . 6% 8*i R*a ? - "- ? - _,i.i. Wabach pr. '? r . 1 !'. MS I4S H\ 15 \ Weatern Maryland . 61S *1S 61S ^i1- ';' 6Pj Western 1 nlon Telegraph. 7**4 7?'4 ;&\ 7?\ T^1 . T9?4 u Weetinghouse l"l A Mrg. ?S 69S ?'*' 6"1 ,;? 6S?, ;. '. u h.-elltiK K l..?ke Erie. ... t 4 :: , ::% 3S 4 i i i BANK STOCKS ON STOCK EXCHANGE. \. ? \ sold chge _I Op. II;. I,..?- Kin] Hi.l A-'? _ ?'ouitii.'r.'c. ?..i~2rtj% . . ._>?'.'? Total Bal<*s tot Mi? day, Mi<t8l shan >, compared sitli for the r*orreapondlng day In I Total wH'? ' January i to December 21, IncluMse, 124.577.IM shares, compsred with 183,277,706 ahsrei f..;- the same period it; 1910. FINANCIAL MARKET _ Stocks Again Irregular?Weak? ness in Gould Issues. I Tii>? nearness of the trip!?' holiday sraa | again an Influence making for < urt s? 11 - nif?nt of stock market activity, and ex? .<pt in til?- t.n~o ?.f ?ipht or ten lasues the net price changes, srhlch wera sbout ly divided between gains snd loss< b, were n?. larger than fractions The mar? nded t?. weakness In the morning hours snd became firmer In the after? ix.on, bul the price movement Irregular at sll times The Gould stocka w<r?- und re from tii?' outset, being sohl ?>ii reports probably arising fr.-in the fai t <.f the Wi ba ' elvi r? ahlp, that the Denver & Rio Grande won! l be pi;?.-? ,1 iti th.' hands of recelv Authoritatlve denial of these ru? mors caused .i moderate recovery in aomi of the las ten of th.- Gould | but had little beneficial effeel up? n t> n? ??or common and preferred, which closed, respectively, 2Vj snd -1% points under Wednesday, while Missouri Pacific and iTexae 4 PacitV decltasd between l sad 2 , points. Lehlgfa Valley furnished ?i aur* prise to il.?- traders, and an unpleasant o? ? to some of those who lmd sold it on Hi., failure of the dii ta announce forming ;? corporation to take over the coal properties of the road, foT after opening under the preceding day'i hist price ;tnd aelling down in the earlj t r; t ?1 i n t* II Buddenly began to advance, not halting until it had moved up about .''. ? point;-, the buying being accompanied by ;? report that the board would i>t a special meeting n? xt week take action th? long expected segregation plan. Louisville <v Nashville was sold when II became known thai do directors had declared the regular semi-annual ?Jh i dend, an increase having been looked fur m aome quarters, and the st > ?. k closed ;it a loss of 2M points, equalling the I.? - - gain. The ad> anee In Le? hipli Valley stimulated the gotn-r.il list to aome .xt-nt. the chief Improvement ks, \\ i'i?'ti w< r? dlly in. ieasing ?'??? foi i he metal at i ialng prices, al? . 'i not much i reden, e was repoi t of . The call i rate ? ased oil .. litl le t ullng bets een 1 and ?'?' ?.? per ? Il h the latter the final l thai ;i t< mporar; be witnessed next when 11 ? ? - banks snd trusl com? i i. making their final ar i angi menl t iking ? are of th? ? ?i ? and dividend pa) m fanuai Th? re was a bett? ? iimn.i f..;- lime furids. reflected In a ning of the rati i | ? ? lall] for the maturitl? l h< demand from inatltul ? i n over-thi ? ing i?. 7 per cen? or , th? ii?-'. esaltt? i of h ha vina sppai - cntly rx en prett; well ? I I The mand t< I ng .".'? to 33 i ? : th? fac? thai Ci" i'" n.'ii sti amei win. h efl this port yei I n nishi ?I the lasl .ins for the < ? of Bight billa s hlch could be presented in Burop? before the end ol the 5 cos. The atatemenl "f the nd shos ed a Ii .?-' gold for ? and a ? *.t_M?.ni.Mi:. |n ,),. ,-, f.rv. and Ita un? favorabli sin.um;; rauaed London dis? < oUlll i ates t" Si II PUBLIC UTILITY SECURITIES. ? t , ? 7? i . i:. . 43% 44 ?? ?:? ? . . ' :- *<> . '. I .. . > -i ?- do -, ? ' ?- ?;? i AI ??; :>.; ?? ','. ? ? |'ow??i ?_??.? :;l ? BOND MARKET SALES. ???...? jap ???? - ? "<"?> '? ? *J .*? i. rio 2d DI tll?OOO " >aA '? * v Canal 4? .???hi *s i ? an?? ? ,, . ,.,. 4?= 1981....101* :?'?<" Mai ?ne 4' ..??-. N v ?? ?Hi I ?"""" 5? . . ' 1837 .... 107S i"?' ,i,, i.?: . |..i. ? .i" . ' ? do H"c 1 ?<7'-J 9000 ....1024 Re Cl Mm . i"7 , IO0 ? M??..? ?? ? i,',i.'.'-, , i . ?02 -"" : ,??, .. ?. 1958 ?.?? . l" ? ?In ? ' ]ihh?i Allla ?'ii 5a.. 80 I 5000 do Iiei 4 Inon do 19*4 ' ?'a.????? - ... '. 88000 ? ' IIW Km Bpta 8a.lOO 7'??o ? Km ?? K ?-.?...l"--. 3000 ' " -' * IOCS '""" ??" !:'f **" ?A, do .......k?.' " ' : ?? r ft 1 49000 . '? Col 4? 90 . 30? 0 M ?I I * ???.?"? A. ,000 ? M 1 *??;?;-. 4, 9, MMimo ? 08 M K ft T la? 119 , ?a :?-?i ,1,, 2 ,r. ?.- I I a ctfa... 118 i""" ' ' .1194 ??' Mo !? ' i ?' i.i" 4f. ' -? 8000 ..? g R1I.lo ....... 92H 500 do dn . . :?.". 1000 ????? :,?. ? 1000 ' I"1 03 looo m .?, " Sen :,i h . >.-.?mn ? r.n .120? 7. 00 v i? i 91 DON I r-oo \ ; ?v s i" ! ... WA ., s Y ?? '?-" ?..?.. . ?-. ' ? ? laooo do '- ' ?' ? sooo 90 . b. ta a ?'ni 1000 i | ??- . SU? ... 1 ? R000 do '???' 5S.108<4 500C N Y C * M T. :i>. <?-.! 4a.107 I V Mono ?? ? 100 5000 NIOI B 1 ?. .HN.'. m a p ?? v* i .1?. '.'.'.. ...10OH 3000 N Y N if .?? H i ? t. a? . i::r. ;.:?.?? ^^^^^^^ BOOO A? ?-..h?? 4- ... - 10000 do I. .-. N ?O? N ". I>1 " 4? i?:,-, ????? N * W luvt .,;, Il 'lMl-.H-ls do ???.?, 17000 . o . ilOI l"? . 7"" m a ' ? ' .? '' ' ?* ' , . 4? ? 00 "il Kl *?""" 5*- '' ,:r \- 4c ni 2000 .1?. Pr ?^ 90S ??000 .. M Ki '7'-'" '" ? ? ''"" -. ': .i N ''?? lOOO Bald 1 '? , ;':''* .-."??n n. ih Btl Sa. . 9*4 20000 ' ? ? '? ' 1000 do .. .. ,:'f ?? '" ISO n B R T 4i 1i.;;\ 2000 I'. ? m Cvl ::??? I : 101 2n00 ;? iah T? B ??' '915 11?.- ? ? i. 5i ' ?? ? li., 'm; ' !??"> rt. Il I04S i"-' . ??O,?*, ??;? 1000 do 2000 Cent ol N' J ''?'"? ?" M ,:' ' ? r 122 :jihmi pi, ? do 121 . '",NI" "!* ? looo era ??? ? ? "???' '??*v 2000 do ' - 1-'" ?c ;, ? .'."" .. tOOO on ??-'.!" :'"'' H* m do tit.l 4-- OO'i v'"?"" ? .... ? ? l.hVi C8 ? ? Qi n " >?""" dn . , , i?1' |it.a , loi?, n? 00 d? IMi T: Is. 84 inno do . mrv sooo p o 8 en ? . i .c v i: r .'? mi i- m fiooo ' ce v . , , '.; H .? dfl 1000 Ct B I Gei 5000 . . 92S B? 110 I 2000 K?*a I Gen 4 ' - . .- v w ,- ! 7?M"i do '?- . r Bl R? n 10.1'i '""" SI Ij ? B r" l: ?. :?- 1084 On 4 - ? do i: t: ?'?? n ? i ?rMno ?,s'* 1000 ?? ? ?in v? . inono r. MOO m i. ? ? ? H 4* . 7'. IV 4 ? ' ? " 7:'\ .-..n.? do I '..,,...? , ".?? ??> do - let S? 111 SOOO CM? -^1? I- . ' AdJ i 18000 ? ?'??" do I . v ./. 10 0 ? tt 4090 C M ft 1 *"'? 4t 04?. ; l't Hof loon ,.. -i- 94S it T * r 15000 Cvt 4 M Tt't 4? -?v. ' '" 119 -'.?..., ?.;. . i.n.i.i dn ? ?en 4 " Tt 4c n\ .:? . . .. 7r? lo ,.., 72?. . 7'? ? j J - ? . \ I ., , , i Col 4? 88 8a . 114 1000 ?- ' m . i?-t ? ? ? ?-? T. *'?'? 4- BSV, D ? ? R"' li ? Sono . 84S 4?^ ' 87 ? 10000 do 84 : r. D ? il Ref 1000 Th ? i ? t .?.-, ?? ?-'*. 77 : r--. . T'Y 5000 |.. ,, f, || ,; dn 7?. ?nu I?. . ?-? 2' ""? ?'" 7?''. ? i ? 7? , *>?*"?? Dei . ?. 5? 1???-, R8? ??? ?:?? Ral 4l sonn i.. ? i..; '.. mi'? t? i P* ."..?H? |l , | .''.0 P* l ' . ? ? . l . - V <i ' .i.i ?-??""? Krle li vi. v' ? I, an i. ? . *S\ Il ' ' ? I? .- , -. i'?--' i o ? 'r ' 4 ?vi \ GOT. *7 '--?" 'I".' . 4000 n H 7?--, 1117000 '.,!., 7' '. ". ' ? 711. , , n El Del? 411m? in i ? i, 4' ?. c? 103 ':'?.lo 11 7" i""'? <: C ft N lai ' ? . r,. - . ?i. 2.I. ', Mnln; . : 25000 <!?> 7" I is\ 1000 i i- lai Ref \.,r FW 4 ??. , 4'4? 1<V>v? ;? . ?.;?. 2. Ilo l Val 1 t do i'7 , 4',? r un m 4? 7'? , lono i; s R a 1 inno ini Niv (i. w ?J'MKI do . ?8 1000 ... ?-?. 20000 [ni P r*v| 5i -i WOO L' H n .'.?H.i Kan r T 4a I? ?'""" do -???. K? ?. ? ? ' 4-. i?l'. 3000 do l?>4?, .'.??mi k ? r r, .? *>oo u R Stl 8 1 .<; i? ?*. il* r- 101 *4 8800 do 1822 .1184 MOOO do 101 . BOOO I. ; l?" "' "" 10144 I0IS cn\ ' -'""?' ?lo l!. ?i . I01S ??<>?'. ?-.'" " ?' IMOtMl 18 ?" 77 ' 8000 do . . KM". H?n L B A, M So '""" d. 4- i".- '? 2*"O0 do 2.1 :. . US'. ,, ,;,;,, . (in , WHNNI H 4 i ,. .:,. -, ^ y.t i 4- . .'.n 7K?-o Us A afrsra ' i-""" "? . I.. 111 ' l?N?l do ,.,, ,. n?s i*""?. B2 . .lt*% i'??" do . r,:-?t 4<?M. do B? w I. ?8?*4 2000 U,. l 88000 do M ? '',f* . ?taoon do ?8 ;"-""" ??? -' m,i 4? M 100 ? ? 7000 do *7 S8000 >?'.>. ?""" V'-?' s r ?- ?? UM?? 1.. i, V N Y 8000 1 ? ? ?.- l 4 I? ? - ". ' ? i ... l: i"> 0 L ? S l -i '?'? . ''7 1000 d.Ht?1. H""" do Cri i? I 104 . ji i*:- .mi SEED PRICES. I .. ? ? . i., .v i i: i |) h I | . ?. . us M < 112 ,?l.- i" ? ; 11 1 11 ? - ' ?* .hi ?.-:. \l..-!?. ' ' i:? HOW; 1 i.. ?j?,'.:, dai i *n 'o i iM"iin Piian? ? OH, m ?r Ii. 17 4.'?. INACTIVE STOCKS. Tii'' following were the last sctusl ?ales and tin- closing quotations for stocks la which there were no transactions yester* on thi New Y??rk Stock Exchange: Last , Ctoslns ? h ?? BW ?da press .886 i'?'?'. 303 Ailla . 'hslini is prel . ... v 7'; '.' Am. Agr. ?'1i?iiiTc??i prof. '?" ? IOS ? \i. Brak? Shoe a Kauadry.. '?"' vt> ? ??" ? i : ??: ? ... i i pr? ' i r-'*'. 128 4 sr S Pouadr) pref . I ?7'. II?'.. 117 ...i' . .... i"'. 7.". 86 m ? ..fun .. i.. r '.?.' '.?.". 83% press ..211 -i" 818 Am Hid* a i. ?ather. 8% I I '?"?'*? \ HkJ. .?. i. stb*r pri?f. ... 2>''? 30 American !<?? >? ? nriti?s. 18% 184 18% Amtrli .?n l, 111 - ? ? ?! . ii 104 ii .h i... ..m live it ? r .. 104 104 ? .?ii Mall prel ... ?I . u ? 424 . prel ...102'? i".': I";'. ? Itlng prel n. 834 S3 88 American si.iift'. . . 228 800 Ktnt n. an Hnufl pre! . .KKl i"i An.? ii- .m Steel r. ?ii.'lr-.. :.:'? :i:i I ? .113 ?S 116 ?l'a ii?; in 11?;'? . :? i rsph It Cable. 7..'. B? i .?i w uol. n ... 27 -'.v.- as - bor . .. -. 83 '." i" pr?t.7" '?" 80 ted Oil. ?'?'. ?'?' prel .I"? . 103% 104% Ksltlmor. <\. Ohio pref. m'4* 884 v. . 1 | W 1 '? l'nlon Osa .1434 ISS H2 1% ? n ith'. tti 103 100 11 ". prel 121 I2S i, -. . ?-. am B< ut'.i. : n .B8 84 71", Si -112 110 117 ? ..? Sea .i. reej.mit 809 813 .24 SO :'i Chlcsso A VIton prel . 40 33 ?.'? . . lud .^ l. Ulm prt t 60 80 ico .v Northarsstern.148% 1424 l?.:.1?? a .'. N'ortnw? itei n pn t. mi ISO IBS ', . ?, si. ?, m ft O.l.".7'-j 187 l?l .... si i'.. M. | .? prsT. 180 ISO ISO IgO 1 11...I1 Train, n. -' L". ... i ., ... tton pn f. ?"> ?"> "'a ? .\ st. I.. r,:: SO T.". . !.. . . ? ft s- U pref. i"? 82 HO , ,\ Pittsburgl. 181 ". . alorado Fuel S Iron.... 28 ~~ i 28 thern ,.. 4? ??"? ?s .. \ Boutin i -i 2d pref., 10 S3 7fl ? ai iet .... ....78 7" 83 . iii.ru: American sunur pref.. B6 '?.;;'. 88 Olaware a Hadscn . M>74 108 1.;" II \ Ma? kins 120 in? ? i nlted Rail as.7-'?'.? 7* s s A Atlai tic '?' .8 i" I". I'"ir |.ief. 88% SI Brl* 24 pref . 49% ?2 Ha it? pref.. 88 1" ? r. '. t.. ng ISU 12 . I?4 i MI i g a fi ? ?? Il pref. 41% 88 i ? ? ?m|. al . 133 i.:. 188 106 l<??i"t Mol 87 .'"? i 88 . Ml ?" 28 - i:i.. m.- Rallara! B8 ; BO W nd .1"'. i"-'. Il Rand pref ,844 100 Harvestei pref 120% 120 i-'"'4 tlonal i'.i.?: . '..'. :>". 1?> , il lonsl 6 earn P i i 11 . 83 ?';? Im Steam Pump pref B34 83 ? , ?nara Central 1*4 18 IS'? , as'.i H 68 K. C. Ft. S. S M. prel 7'. i 7. i m. K? ? ? k?. 1< | I??-? M< pref 42 ?"?'. .".'' .-?? ? ; .... 80 33 t... Erle ? Western ... M 124 19 pref 814 28 81 Laka s i n 120 .".-"? SSai . .. ?:. 11 82 - prof.'1 71 7J ! . 184 13*1 188 i t Stores....... Tl 7?> 72 ? pertinent Btoree pre! 111 i?1? I? R , ? .' .?i . |M ? '?-.i' : i .... i M . HI P S S p M I?"?! M- 117 i |4tl - . ?1 . vu. Ka I Tea pref. 844 834 ? ? ? > ft < ttanooga 11 ten 1*7 all 140 ,:?'- in? II t pref 127% !..'7', ?28 .- '.' I 1 1 ? 1?. 1"7 . 1? ?'.'. 1.?7 , . i ref 07 ? entra ..'.'.?'? ."." ? s tk Ali Brs le... - ?? ; ? ,vi 1rs . i?.-.', p?-i S. T.. r. :\ : : , .?,7 : ?, ? S St. K 1st pref 88 ??- n.? S.- Y.. C. * Si. I, 2d pref ... 824 7.'. sr, t. Dock. 24% 28 i.... 1. | I ?f . Ii7\ ,11 , Ontsrio ' ' - '? i . ?? , N'.ii f'.iii South' rn . ."? : ??. . Norfolk .?. W? -t. rn pr?; , ,01 I?", :n -ir?* ..... S4*4 ai MO ' ... i".". v;. jajj Ps in. ? . ?i .... :???'?. '.'.. p.". ' Tl.. . ?T , ?7 , I? , .. Tel pref 88 P?'j i v Rastern , .... SI i?. 88 ... ...ko . . ,1034 isa ins p r., c. a st. t? pr?f .1024 i?ii 1184 go. 17.14 1'.: , ; Car.83% : -. . 14 nret .IOS liM, 102 pul u.- Rervlca < .rporatton 108 W74 113 I \ pref . .*? :,', 1. g pref.... 084 si 1?.1 . *?'.', v- :k, R? idlng 2d t. H M H 99% B< r A S.in. ' ^ . ,208 I7S w etertown .? Og*lens.1184 117 I pr. ' 18 i.? is t-t 1. .* . i'. 1st ; roi ??? 83 to .-? 1. .<; s 1 ? ft SX 1 Ifl u:? im. si 1, .\.- r . .u: 1 Ifi pr. ' 1"7 , i... r::. ? 1. a > r ? ? a ' t 1 ? ? ??? ... .-?. i>- II*? ." :rj M I?. T! ", I 72 : il 1 ?? t, Ml IL'I ? I '" ? ? I A Irin 4'J ?1 ?f. '? Bteel | Tr n 1 rof 112 1?.>?', Booth 1 r Bugsr . SI'? ;? ??.? South l'.". H"?. Sugar pref il" 1074 112 i M. ft O ' -'-' . SO v. ?? ins 13 18 i'i't *-::"? Kl '. s: Rallaran ft l,l| I 34 i ? rtapM rrs ? ? !"'? i"i . 1".; Cll R. T. pref . I4S 1424 143 . | Paper i>r?-f... .SI 60 I'nlon Pa? ISe pref '??.' . cigar Mfa pref ? 108 1004 in? ?."?'? tas mn 1'?". 1".". 108 I .o' .M ?M ,;.-. ? - Bspreea. si ? ; SB itiisl Al. ohol 28 22 '.?.i i h. Industria ?.Irohol pref. S31 B3 i.? i ? ? ?.- m i . ... i ? - ? . I i h i .. R? f pref. P? 124 i: . in pr? r :i<?'.? U" IIS* Rubber 2d pref 18 7? 7,. . ml? al pref.... .11*? . 11 *-' = 123 Virginie In n i'oel \ 1 ..?? ?'.!? ''?> 7:i Bxprea us 117 181 w.st. rn Men land pref ? 61 M4 k B AM 1st pref. 1174 118% 1171 i .11 \\ he? ling ^ '? 1: - ' i'" ' r' - "' ? 1 Central 64 63 GOVERNMENT BONDS. i. 88 . i" '-'1 p. ,1 Anko.i Rid Asked ?. . r.' ." I4KI MM?1 100 100' : |9 . 100 100 ? 100 11.. ? Nil? 101 II? , !?" 10 . ., ;. n i!?l- 101 ? 102 . MM > 1"'.". 1 H t " H'-'. 1184 118 ? 118% 1 ? 1 , ipon IWffi ii.. . 1 u I1.T 11? I!.:..; 1..1 108 lai? ion M? . pia . ISS1 n?i , lot! . 101 '. m ? . p.??,I |o|4 109 ? l?l4 l"2', ..^ I??*?. IfS 1 "A ? '"', ? OUTSIDE SECURITIES. in the inarhel for outaJd? Be?Bttrltl?s fur* tlier IrtenulHiHv ? lull .?? lei Ued the tlii.lltiK. aithonah Hi- rolaras of bustrtesa "-1" ? showed a reaterlal rsiHna ou from re**n* areraajM In ?pots, however, fair nctrrity developed, in tii? Industrial lasse ,|?r> '" irts ? ontlnued IIm prln? Ipal ore. American Tobacco sdrsneed ?' while i .ice 11 ft Myers sad P. i*orll Ihi-.i were m. abouI ?"> points; Bi ltlsh*Am< i ,. un Tobecco, after .1 decline of ?'?. recov er.il n?*nrl\- all; United ?'kTHr Stum? was down 1 point . In the minina ?ic| ?""' ilmi ;?n?l Mutte Coalition were the features, Hi.' lutter rar?rlna a Rain "f '? The ?dlvei Stocka were quiet bul ateady. Bondi were ? lull sud easier INDUSTRIAL. Sale? OSSO, H'ffli I ..?v Last 88 Aaasr Toben ?'"* 818 80S 813 f..'."" I'' \Il T..!;?.." IH'? IS4 1:.'? 1H SAO Inl Huh Ir .f. 1?.\ I**-? I-? I? HrO Kssasr r? ? W1 '*, i"i 'j 101 -, i"i M ?.?.?? Usseti a If.. .I'll 188 184 183 BOO ?Ifae? Oll 21 SI 81 21 i'??? p Lo-illard .... 184 i? ' ? i?;' 188 m P Kl. \ui Tob.2W >n 280 -'?*' 200 1: .1 R" noldi IVi 188 1*4 IM 840 M Ron el? ? 'o. ?8*4 98 ?8?? 8?4 1 290 I 11 Cls i4oree39l 2??i 900 '-'"' RAILROAD. ISO Chi v ? a] trfa '1 '. '? '? MINING. BOO ?B? ?? '1 ? ana... 4<> 4?> ? ??? ??? :>>f? Braden Cop?**r.. ?">"? ."? . 84 ?"?'? I"?. Hrl? col Cop.. 1% 4'? I'v i1. 18,500 Run? Coalition. 224 18?i 324 '-?'? ? :?? ?? Rutta INI 4 -?. > H 1,500 ?COD? 'ii- U IB 14 H 1 .'i?? ' 'ant vt la i4mell '3 ' ? ' ? 80S l'i.i Field pal ?? 18 18 II 1.1 :;.". ri..r n ?? 83 83 83 82 .Ilroui ... i'. ?'. ??"? I ? 1 200 ?? Ireenw ?1er . <? 1. I 8 2,000 Ureene Canana? 84 84 a < *>"? ?.-' nutsenhelm K\ im 184 im IM .': 000 Im ? Irailon ? op. I0?4 1"'. '"'? 104 100 "Jumbo Baten.. 13 2.000 Ken Lake. ?_'?, 2*4 -'* ::??? I-n Bosa ? 'ona 1 ?? t ? ? ? 800 N'?vada lilil? . 2% 1 . 3 ? Z% M?.? Ne? I'tah Mas. '. ;. ?? ?? lflo N'l| Isalns M Co. 7'. 7'? 7 , : ? *,<m Ohio Copper.... I.. 1< 1 1 BOO I'.i Bmeltei ? . t \ . . 14 1. 1 ore Nbrthei n, 4 ? M % m?? ?Porc Townslte, :.j f.:; 60 83 2,500 Preatan 1: D... 13 12 12 12 S. nix*. Kij ?"ii'Hl . 1 '?. I ", t", 1"i i.io? So 1 tab M f. B '? ?? - ?? 280 Tonopah Bit .1.1 RS l n 32 IA IA '.?ft Tonopah M tit...74 74 74 74 2,ono ?Wettlaufer s If 88 M ?8 H 300 ful on <; Mine? 8*4 . BONDS. 1*1,1,000 M . 5? 10014 im?'. 100*? !l 0 . 1,000 \ y i-,.. |?4l 10244 |oa*4 l"-' ? l"'.". 53,. N'Y.W?n ?'*? OS 0? '?7 !>7 t 3.000 Oi \\i:i;a\ la 92-4 824 . 83 i 024 ?Hell? centa per - CONSOLIDATED EXCHANGE. Lehlgh Valle) WS? ?1 feature of the mat- I ket ?,n ths Consolidated ?Stock Exchange, its j ?alea of 1,928. shares bein?? the heavlesl for iinv day this ?/ear. it touched a los price In ths forenoon >?f 1994, which wa 04 :? I 'hit lin?ler the lowest rea?'tie?l OU the ' N? w fork Stock Exchange, bol H rallied ; ?harply aubsequently under larg? buying for i"'tii accounts, lis resiliency, In th? ! face "?' the failure of the directors .it thHrj meeting .?n Wednesday t.> cut the expected | "in? i? n," ex? rted ;? favorable Influence upon 1 the general market, which bed been .?.' verseli effected earlier In the day by the npeclal weakness displayed 1 >? the south v. itern railroad ahares, particularly the I?, nv? r rt Rio Grand? Steel c immo 1 l? ?1 ; the merkel a? t<? rolutne. it early .-"l 1 ? low s? ?'.?'?, t" the ? stem of shout 100 altaros, i'ompared with -i low <?f t??,14 on Ibe ?ther exchange, ?n? Its afternoon sdvai 1 touched "ii light trsnsactlona ;i high of ?Wti, HKainst ?'.'?. Small Iota ?old "f New Vora, Ontario It Western al M snd 39-4 *ud In lernatlonal Paper si ?t4, A 11,000 Wabaah t jier cen? bond changed banda si ??.. I'e talled op? 1 atloi a follow : STOCKS. Sales Ofx lllah. Lo? Last 3,560 ' ? ? .- 8S*| <?'', '?'?'> ? ? lu v , Vf ? 1,. ,.1. ?; : ?..'i 88 '? ::?>? ,\-;i ' ! 1" '< -'7 ? '? . .'? . 70 An il I' " " ??'. Amer '*?'? .^ K) 54?4 541 54?* ?"?'' I?., Amer Col Oil.. ?Ml i *~ '?> ?84 47 . I?. Amer U 0 ?'?'? 88 1,780 \mer ?Smeltlns. 7? 7."?. 73-*? 7?'? 188 v '? ?? a -; K..108-4 1-V' ? IOS'? lo?1! 7, 77 1 77 77'? _?.? I'anadlan Pae. 2404 240 . 2e? 2e? :... rentrai !??.'!. S3 '-'-'. 21 i 21 . I OI '??? .744 7.r?'t 7?' 74 , 14?. C Mil .v Bl P..11C?1 111 '? 1104 1114 -?. 1 1 .no Copper... '-'? ? 23 ? '-'?? - ? i.i.'.r Product?. 10% 1" 1 10*4 l"-'* .? |> a I Rio Or.. ?-"'* 20 18 . I- 1 4S4 ?19 . 20 Qt Northern pf.1284 1284 ISn'l 128 l?i ; ? ?? ?? . 8.0?J? I.- bl?| \ all? ? .181 I IS44 iV: i- . J7I. i/"ii- f. Kaali 157 187 1 .'?:.'.. ISO 1,080 Mo Paclflc . . . ??('.? M j ?"?'. !? SONar Lead M'j K4 r.4?3 HI* ?.'? \ Y ? > ? V- '-' M 884 SU 894 20 Nevada fonaol. i!?'? in!, 104 194 150 North 1 118 1184 118 111 . 00 l'a? Iflc Mail . . 30 81 "? 304 31?H KJft P( 1 ..123 1934 123 123 10.550 II ?'.. 1534 1511. 152 , 11?? Ft? p -?? ? . 2T?i -J7\ U'71 ? -7\ SOU '? - -?> ? 24*4 284 i?? do ?pr?t .... 44r? 4?", 4-1". M . ; 10 ?Soutl rn Pae 1134 US ? 113 118 p.llttiern 1! SO , 294 20Tenu Copper . 374 W' ? 874 ?4 5i0Texa? .?- Pa? , 22 1 -- . >? i - : I20T1 Ird Avel ?? " , ? ? ,_?, .-'/ s.lM? mion ? '?.' ? ?'"4 ?3N '?.\* ?S-4 OU 8 Rui l-i- . . 47\ I7\ ?7?. 14.''i?? I" 8 Steel.. i> 30 do pref ...111 1114 l" 1114 I.'.-. I 1 , . . : 1 ': M'. 55-4 ?" : '? in \. ' . ni.. M". 844 844 644 ?jo Wabaah . ?i ?'? 8 10 .. . ? li-, 144 144 ' ? . r.r. 'Jin Toi 1 ?atet MINING. "_-, ;?,.-? v. ?V? I un S ?"i S r?i ::. ?1 i.. ?? .? - 23 '-"- '22 23 ?j,., ,,, ...; \? 1 O.? 1 ?i, 1 00 1 mi .?..? <;.,:?:?,.-11 .???ii BOO ."? ' ' ?'. " ?"?' " ? ?,, m? i- Nor.... .10 19 10 19 . Ill . Butlei 28 28 ISO v 4.20 4 '." 4 ?:?' 4 :? ; 1 .1 M,. ... .7? 71 71 74 lOOOphh .170 1 72H 1 70 1 -.???. l ... -?? ?.. Ne? H'Ih 3ft ,88 "?" .".1 ?IM. 1 ;.., n ' on 1 25 1 28 1 -j.". 1 25 reo w. ? 1 ? 325 roi il ?ale? .77 - Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company, Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue, i New York. Traveler?' Letten of Credit. Foreign Exchange Administrator Guardian m TO THE HOLDERS OK First Refunding and Extensions Mortgage Bonds of the WABASH RAILROAD COMPANY The undersigned, owning and representing large amounts of the above bonds, have formed a committee for the protection of the holders thereof. None of the undersigned committee are in any way connected with the present management of the Wabash Railroad Company, under which the recent receivership has been brought about. The Committee has arranged with bankers to advance to depositing bondholders the money to pay coupons due on January 1st (if unpaid by the Railroad Company) but it should be clearly understood such advance of January interest constitutes a loan secured by the bonds and ccupons deposited. In view of the appointment of Receivers of the Wabash Railroad Company and to the end that co-operation of all bondholders may be secured, the undersigned committee requests the holders of the First Refunding and Extensions Mortgage bonds to deposit their bonds with CENTRAL TRUST COMPANY OF NEW YORK. 54 Wall Street. New York City, which has been appointed depositary and which will issue its certificates of deposit therefor under an agreement ot deposit now in course of preparation. Application will be made in due course to list the certificates of ??'epnsit on the New York Stock Exchange. JAMES N. WALLACE. Chairman. HENRY R. CARSE. IOHN ]. MITCHELL. ROBERT L. MONTGOMERY, H. K. POMROY, WILLIAM A. READ, J. HERNDON SMITH, ALEXANDER M. WHITE. ALBERT H. WIGGIN. ! P. COTTON. !r.. i oui FRANKLIN L BABCOCK, Secretary. CENTRAL TRUST COMPANY OF NEW YORK, 1 tepositary, 54 Wall Street. N f ??'.' \ < r '. City, TO HOLDERS OF First Refunding and Extensions Mortgage Bonds of the WABASH RAILROAD COMPANY THE UNDERSIGNED. AS A COMMITTEE. ARE CONDUCTING, AS EXPEDITIOUSLY AS POSSIBLE, AN INVESTIGATION OF THE FINANCIAL CONDITION AND REQUIREMENTS OF THE WABASH RAILROAD COMPANY AND OF THE PHYSICAL CON DITION AND REQUIREMENTS OF ITS PROPERTIES, WITH THE OBJECT OF FORMULATING AND CARRYING OUT. IN CO? OPERATION WITH MESSRS. KUHN. LOEB & CO.. BANKERS. SUCH MEASURES AS MAY SEEM TO BE BEST ADAPTED TO THE SITUATION AND TO MEET THE WANTS AND DEVELOP THE POSSIBILITIES OF THE PROPERTIES. In view of the appointment of receivers for the Wabash Company, and to the end that all proper and desirable co-operation on the part of the Bondholders may be secured, the Committee requests the holders of First Refunding and Extensions Mortgage Bonds to deposit their bonds with The Equitable Trust Company of New York, No. 15 Nassau Street. New York City, which has been appointed Depositary, and which will issue Certi? ficates of Deposit therefor under an agreement of deposit now in course of preparation, which, when prepared, will be lodged with the Trust Com pany. Arrangements have been made with the Bankers to advance to the Corn mittee the funds necessary to enable it to advance to depositors of bonds the interest maturing on January 1st, 1912. in case the same should not be paid by the Company. Application will be made in due course to list the Certificates of Deposit on the New York Stock Exchange. NEW YORK. December 18, 1911. ROBERT GOELET. EDWIN HAWLEY. THOMAS H. HUBBARD. ALVIN W. KRECH, ROBERT FLEMING. WINSLOW S. PIERCE, Chairman Committee. MURRAY, PRENTICE & HOWLAND. PIERCE & GREER. Counsel. H. R. WINTHROP, Secretary. THE EQUITABLE TRUST COMPANY OF NEW YORK. Depositary. $15,000,000 FOUR AND ONE-HALF PER CENT., GOLD, New York Central Lines Equipment Trust of 1912 TOTAL AUTHORIZED ?S8UE $15,000,000 ., . ,.., paubment Trusl ?.greemcnt dated December 1. 1911, the folios . "% . intJ?A?XS^?? ^'zp^1 and?cmi".,aldivldcndwan /?/? wir 1-OftK CENTRAL \ND HUDSON itn i it RAILROAD C0MPA VY, /,,,', IKE SHORE AND MICHIO in SOI ntERS RAILWAY COMPANY, Uli MICHIGAN CENTR 1/ RAILROAD COMPANY, ////'/./ I ll lND,CINCI2s v i TLCHICAOO AND ST. 10?I6 RY.COUPA \ ?. , ,- . Tr,i i \preement also provides tli.it the smounl ? ? tes t.. Lo ..-'ie.1 ?hall ' *H l!r ;,^1,M , .i, "?ni"... of equipment delivered to .....1 held by the Trustee .?^ sect.r.i ' r*r time exceed 90 pet^cent. ' ;.,.x ;,, j; ,, tll0 iemi annua| dividend warrants appertaining there! in r n t ?>1 tue l'niini"" _ _.____ , ., , ,. ,., Mysbls ssmt-snnusUy. on I 1st snd Julj 1st , ,, Interesl si the rate ol <'? Pfi ? ?,',.,? ,,-? vPW Vork ..- Tilintee. They ar? ?ated ,la ?*? '* Certificat?! BTe Issued by the O.i.i.'.n.iy i n; h ? mpa-j: 0n the 1st ilsy of January ea?-h vesr ,.? 1913 to 1827. Inolu-dv* ' Miles of $i.> ',""? ;"' ,?,',,, ,r $i .' wttti ?emi-anminl divldcnd warranta attached, snd : Certificat?-** or? Issued In denominations ./;.?.,,.,.,.,? ,??,,,,,,,,1. ?.?ered csrtlflcstes will siso be Issued In denomination! of |l,m |1.8 snd $,' We now offer the above at the following prices, to net approximately 4.46%, payablo fa? New York funds, subject to previous sale: $1000(100 due lanuary I, 191.1, al 100.25 and i ten t. 1 u.?,.mu?. " " I, 1914, '? 100.15 " iWoon " " ii 1915, " ion m ?? i'ooo'ooo, '* " I? 1"1"- " loo !" I'OOOOOO. " " I. 1917. " IU015 " piiNiiHin. " I, 1918. - 100.20 " lOOOOOO. ?? " I. I?I9. " 100.20 " 1 i ii a i.i M m i. 1 1920 " 100.25 1 ixiOOOO, " " I. I?2I, ?' 100.25 I 000,000. " " ?? ?"". " iw-w 1,000,000, " " 1. '''-'?*. " IO0.10 l iiini'i'im. " I, 1924, " I'*?135 I'oOoioOO, " ?? '''-? " 100.40 l.nui.tMHi, I, 1926. " I00.-40 1000,000, " " I. 1927, " 100.45 Xemporarj certificates will be delivered pending the preps i ition of th? definitivi .1. P. MORGAN A CO.. Now York tf FIRST KATIOHAL BASK KATIOHAL CITY bM ?December And, 1911. Al.VI KTI-KMIiNTS ANI? it'BSCRIl fer The Wbnse resetted si iselr VS**,r* OsVe, s., i:;r,4 BraaSwejr, betwajeaj nuil? asd ?'>?'"> '"'?? ,,,,!,! ;,,,', 1,? t | ni AiU.ili?rni. ni? ?? ???K'-'l ?' '! | f. Il.inliiic SrSS li SSS M ?I fl-tllar < tt?< <* l*'"', until s . !.. i? 8 '" ? ?' ,-'':, ' se? itti n . i..* esst um ? I. t., I tn.?il Till ?'?'I I*"1 ' .. : v ?-t 138-th -i 1881 88 ave ; IT???. i" sv? . nth ?' . 1*1 Bset ISSth it i 1*8 11 i... HI . him .ui> AiiHii.an l'l.trl I T*dca**ssBi osase? ' AI'VKHTI.-i:.Mi:\TS AND SIHSi'IUl'llON* I j tot Tas Trisarse rscsirsd al its Ir uptown ??ftue. . I HO 1884 BraaSwar, bstwsaa 88th sad :i7u, ?t- . ( ! until 8 "'i'" I p. "'? A'lv. in?,,,,,,,,. ,,., ,.:w.,j ,f lie f"'1"1'!l I bras h ???? . al i gi.bj 1 until "j"1'" i- ?'? "; ?- ? . M4 - i:'s ?** '?'"? " i-M. ?' . mi Ka? 14th ?t 287 Wi ? . ?.,,,, 7ih aa I ITM m ,m . ; ?rar 89th SI . 181 I n ? | ?.'?.,,, M , ;,?; T|,.??,ll( |tv, . ajo r.i av?., ??a OMM Aresrkes DUtrlct I Tel??iapli O0B9? i RINKINU UM? ?W? ,hali is n..? ??..i.T-n.!??"? i-'"; i'..?? ??Jf W* accordano? ?"" ^?loj? ,hr' ' . in- !??***" r. r . i ..??.?i- ?"???** "> v * ?r "Haw ?.mdValll T-? ?-?7Vhr5 on, iNconroBAt*