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P. Lor-Ifu*- Company Liggett & Myers Tobacco Company For the Caonveniencc of investors we have made arrangements to buy ot sell at market prices bonds of these Companies in amounts of less than $1,000 and stocks of these Com? panies in amounts of less than one share. Guaranty Trust Company of New York 28 Nassau St. New York J K. M. BYLLESBY & Co. ENGINEERS EXAMINATIONS AND REPORTS 206? SOUTH LA SALLE STREET CHICAGO rrrOtntt. Ore.. Oklahoma City. Okie. Mobil?. Ma Bank & Trust Co. Stocks Bought ?and Sold GEO. RUST ROGERS Tel. 1782 Rector 60 Broadway WANTED 100 American Type Found er? Pfd. .??O American Cigar Com. 100 Babrork _ V*> ilcox 100 IJhrary Bureau Pfd.. fier. A ?t B ISO Pope Manufacturing Com. 100 Safety Car Heattnjt _ UK-tin? FREDERIC H. HATCH & CO. New York Bo*ton SO Broad St. R0 Cong ret.? St. Privat^ telephones between New York & Boston. ?Lack. R. R7of N. J. Dealt In by EFFTTfGHAM LAWKENCE * CO., Ill Broadway. New York City. _Member? New York ?Stock Exchange._ DIVIDEND NOTICES. UNITED FRUIT COMPANY DIVIDEND NO. SO A ?ja*rterly dividend of two per cent en the capital at?ele of this Company Bas been de alared payable January 16th, 1912, at ?be effloe of the Treasurer, lil S'-.te -treat, Eos ton. Misa to ?tockholdera of record at the elei? af buslse?* December 26th, 1911 CHARLES a- hubBabd, Trass-isr. _($1_ THE AS-OcIATED MERCHANTS CO. HobOken, N. J . Januarv- 3d. 1912 A reBn'er ?juarterly dividend of one and ene-qoarter per cent (m?"?,?. and an addi? tional Quarterly dividend of one-quarter of ?a.a per cant, on the First Preferred stock, also a r?t-lar quarterly dividend of one and one fcilf per cant, n?.'*'-'? _-d an additional q?j_r terly dividend of one-quarter of one per cent, on the Second Preferred ?Stock. Will be paid - ?iauary 15th. 1912. to the holder? of the Pre farr?1 ?took? of this company of record ?? three P. M Monday. January 8th. 1012 _MOSES E-Y. Secretary American Telephone 4; Telegraph Co A dividend of Two Dollar? per ?hare will be ps-3 on Mondsv. January 15. 1912. to st-*=t> fceldees of record at the close ef business on F??-_rd*y, Doc ?-m bar 30, 1911 WM K DP.IVEP. Treasurer INTEKVATIOVAI. PAPER COMPANY A dp/Kland of ONE-HALF of ONE PER CENT. ? '. ' Sto?t has been declared. _av Tan?_ary l5th, 1912. to Preferred Sticfchold ?i. at the close of buslners ?S P M ? rd ! 12 iTSBSfer books will rsfleala --:?> n.a?sd D, W HYDE Se:r?>?ar-. FINANCIAL MEETINGS-?" ANNUAL M-ETTXG.? NOTICE IS HBREEY given thai a meeting of the stockholders of 'AMES H. DUNHAM _ CO. will be held at the oiflc? of th. Company, No. 340 Broadway, New York City. ]_>rough of Manhattan, on the, 17th lay ?f January, 1?12. at eleven o'clock A. M.. far tho purpose of e!o_ting five (5) Directors fer the anrulng -'oar. and twe (2, Inspectors of Elec t??, to aerve at the next annual meating, ar.d fer the transactl n of such other business as may properly como b-fore the meeting The polls ?arlll remal_ open iron? eleven o'clock A M to twelve o't-Ock aOOO The transfer books will be ?*'->??? troto Jar.uarv 5th. to January iSth. 1012 TAMES M. TAPPEN. Secretan Da?ed N'y?1 York. January .'Yd, 1012 MOUNT MORRIS BANK. New York. December 21. _?11 The Ar.-.-a' mast?n*, of stockholders of the ifsunt M.".rr7s Bar.V for the election of Dlrectors sr.d to vet? ?_pc? it resolution providing for the r_-_-t:c?a. c. the number of Director? from twen t:*-t?rea to twenty-two. and the transaction of f-c_ other busint_s as may properly come before ?_? meeting wJJJ be held at its Banking House. N_ So East l77_5th -_-eet, or. Wednesday. January :o, 1612. at S o'clock P. M. Transfer books ?"/111 b? closed on Saturday December 30. 1911, at 12 o'clock r.;i_ and reopen on Thursday, January 1!. 19X2. _-JNDLF.Y H. HTLL. Cashier. WINDSOR TRUST COMPANY. The aanmi. meeting of the Stockholders ot the Windsor Trust Company, for the election of dl ractoro a_d inspectors of election and for the trar.sactlon ot such other business as shall prop? erly come before the meeting. ??411 be he'd at the Dow-to**- Office of the Company. No. 85 Cedar Street, in the Borough of Manhattan and City of New /ork. on Wednesday, th? 10th day of Janu? ary. 1912, at 12 o'olock boon. The polls will be *?*-_ from 12 M. to 1 P. M HOWARD M. JErrERSON, Datsd. December 2S, 10U Secretary. The Curb Market The year 1011 ended with stocks advancing. The y?_.r 1912 begin? ?vith promise of decidedly improving T-.arkctt. Those interested In NEW YORK CURB BOSTON CURB PORCUPINE COBALT stocks should avail themselves of 'he unequalled service I provide, loth in furnishing information on these issues and in executing ordera -. them. Direct private wire? connect my offices In New York. Toronto and Boston J? THOMAS REINHARDT Mlnln??Curb Stocks. B?*t f-cllltle? f??r executing order?. :3_ Broad St., N. Y. 54 Devonshire St . Boston. 18-20 King St W., Toronto. Telephone? 20-0 to 2ft-'"? Broad,_ GOVERNMENT BONDS. ?Jan. 2.? ?Jan. 3.? Bid. Asked. Bid Asked. U f 2s. reg. 1930.100 100H 100 fnOVj U. S 2s? coupon. 1980.. 100 100*4 100 100"?* U. 8. 3s. reg. 1018.101 ?A 102?4 101 M. 1? V S. 8s, coupon. 1918.. 101 ?*, 102V. 101?.? I?-1?, f. S. 4?. reg.. 1925.118V? 114 113*4 114 0 S 4?. coupon. 102S. .118*4 114 118V4 114 Panama 2?. reg.. 193?... 100 - 100 ? Panama 2s. reg.. 1-38. ..100 ? 100 ? Panama .Is. rcpts , 19SM01H 102-4 101H 102*4 Panama 3s coup. 1961.. 101H 102 101*4 1?T_ Dlst. of Col. ;.*.. reg.105 ? 105 - Dirt, of Col. 3s. coupon.. 105 -- 105 ?v_? CHAIRS TABLES PROhfi ?ci-Y?CE HON_STP-IC_S WOODMSTEU FILING CABINETS SECTIONAL BOOKCASES' STEEL CABINET SAFES 3be Slob,-%r nick? Co. ijSJvSSJ Broedwey. eur. White, >'. Y. I'bonr? Frunklin ,>?T')-^S7i NEW YORK STOCK EXCHANGE SALES?WEDNESDAY. JANUARY 191J. Actual tsai - Closing. Op. Hi. '??"? l' '?"?'? ''"?? Atb ?li'rs Net i _iold. chge, ' 300"-H iAU"is^h?lmlrT~Ct> 10,900- 4 .Amalgamated Copper .If/, , aooi * % lAmerk-a? Agr. Chemical.. ? ? 3,100-% American Beet Sugar. ? 100 ? 4 ?Amer. Brake Shoe & Fdry U 6.330 - V4 American Can . 1'jui-"-.-- -. i -'? S.3?0-I 'American Can pr. 98% 1,600,- % i American Car & Fdry.| 55 [ iVV'i??^ American Cotton Oil. 175 ? -a (Arner. Hide & Leather pr ?Xu -i- Vi American Ice Securities..., ? ? 17 :l .? M 41*0. - ?-i ;American Linseed 100 + ?4 American Linseed pr... 10C ? ?4 |American Locomotive . 6,6001?1% ! American Smelting . DM ? ?d? ?American Smelting pr. I'M?% ?American Snuff pr B... 47% !":. 21 21 -'? ii?? . as - .: 36'? 36-4 ?>? '. .74% 74* 35 34 . . .. b 102% : - ? ' ? - 40n| ? 4 (American Tobacco Ctfs.'.'" 1?J2% 103V? ; ! ? I?0| ?? H American Wool?n . SI S7 2Vi?-a ,American Woolen pr. >:<??-. - MOW- 4 Anaconda . . ? ??W 100 - Asset? Realization .IOS Id - I ? 106% ',<><>? r. 1014 10 . I'HM . 103?! 103V l< . . 1034 104 .'? ', 1"! i' :. . r,].-H .;i . II DO ' ?1? . 77% 77 29*4 29S 294 29*4 -* . ' ? 74 235 234%'2? i ?. s . 8% 8*?, - ! - a' 21? 2 , 20' ? 20' 91*4 91U 90 | 00 ' 90 I "?1 . Ti'.: 744 7:;*? : ! ? i IS 6 i :.','. 11! ?1 - H 1W 2,400? ?4 ?Atchisfin 300 + ?4 ?Atchison n 100 - Atlantic Coast Line. 200? M Baldwin Loco, pr. 1,700; + *? Baltimore & Ohio. 100 + 4 Bethlehem Steel . 600?1 !Bethlehem Steel pr. 2.239! - , Brooklyn Rapid Transit. Wj - Butterlck Co. 1.650 ? 4 ?Canadian Pacific . 4,6801 -?Canadian Pacific rltrhts. 2,175? ?4 Central Leather . SOA?2 Central Leather pr. S'Kj ?-\ ?Chesapeake & Ohio. ? 'Chicago Gt. Westen?.... 100 * x8 ?ChicaKo Gt. Western pr M?W?% :Ch.. Mil. & St. Paul. 17* _ ?* Chicago & Northwestern. 112'-. h:\V.-. n:- ll^i . !ir>., t,700_4 rhino Copper .? D6% Z7H - 'i : 50: - :Col. Fuel & Iron.' 2~.K 27% 27% 27 ? 27 1,325-1 Consolidated Gas .luv. ill 139%'13fl 600- 4 ?Corn Products Kef. 104 10% <"'. I0-*S 1";. 1"'-.. 100 ?1-4 Corn P. Ref. pr ex rtlv V, 74% 7<!;, 76% 76?4 7",',. 7'.? 100' ? U ?Delaware k Hudson.16S-4 IOU 168% 168% "'??*? 169 200',-% iDenver & Rio Grande pr.' 41', 11 , II : 41 40% 200?1+ Distilling Sccurlth.-s . 200 + 14 ii>u.. So. Sh. & At. S.100? % 'Erie . 7iYt_K. Krie ist pr. 100- H .Erie 2d pr.... er. Sita ::r-, 81% SI 31% :?'- ? - H *Tv| 10 824 324 -l7^ ~'T bVi 53% f.2'. 52 1 62' a a 1 , 4sv4 156*4 1^4 155-4 155'., IK .m* BOO)? ?4 'General Electric Co.. h.,0 - 4 iGoldfleld Con.1 4:V ?5V 4'? 4% 1'* 4 2W - ?V 'Great Northern pr.ll2S%12?*i 128 128 128 12S% 2 62i>-1-4 Great Northern ore ctfs...- 44% 44% 42';' 43'. 48' 100 ? S Illinois Central .140*4 144% 140% 140% 14?>V1H 6.100- % Interhorough-Metro. IT1. 17*4 ";:<< l?4 W 10,300?1 Interborouph-Metro. pr ...I 64V fc ' , "?? 20ft?l Interhorough-Metro. ext... 534! 51':? 63 53 ? m-international Harvester .. 109H1OIHI109 109 lOR-i'lOS?, M?4-? [Inter. Paper ex div \g%....\ 4?'. <?;, 16?4 t-v. M 17 ZOO,- ?fr intpr. Steam Pump.? 33?4! 31'41 3.V? 33*4 33 ' S3',. M.'is Ni i ~ A01 Op. HI i.,..? Plnl Bl?J. A-k_ H si? am Pump I r. M1.. ? ?.?.?; ?4 -1?4 Kansas ?it- Southern. Ht H ? I? -..- .: *', 11 -: low. ;- - --. Valley . IM-4 \*4\ IM ? .*?'' '* ? ? I . 11.01 Isvllle .< Sash? 111, I0DJ- ! ? 'Marine . "?/ Wt 6 l.fjbQ 'l Matin? pr . .*)'" : ".- 21*4 !? Miami Con. ?-"Pi>?r. . 11- - M., Si. P. ,?i S. St. M. - M.. .St P. \- S. St. M. pr.. . ,- 19 H!? ?I-'-,'."?" ?4 Mo., Kan A Texaa. 80 30 '. l,900\**% Missouri Paclfli . 394 *? *n 400 -I'? National Biscuit . :. '.-,14P(141 141S 100 - ', Nat. Enamel. & Stp?. 11 " 14 ,14 I 14 I 14 ? 14% 2.400- '?? National Ix-ad . Mea. Dd pr. 2.700 ? Nevada Con, Copper. 100 1 N? ?>'?? Fork Air lirake. m v. rk Central. ion-- '.. \, - jfork, ' >nt. i Went Norfolk ? W.-tern. ? North American . .. Northern Pacific . 400,-1-1 Padflc Mail . .. I-?? -1 -, l-.c in.- T< 1. At Tat. 1.845 - ?j P< Rill) Ivi Ria Riitlroad .. .', P., C, C. \- .st. L. . P . <\. C. & St L. pr. 160 ?Pressed Steel car. 604 ? i. Pull nun Palace Car Co.... 158H 11 ' 9% l.'.9 ]1?70 200 - Railway Steel Spring. 32 132 |0 tt 30'i' %VA -Mi Ray Con.' 19?4? i:?'. 18T4I lq l*; ? mc . I . I '?, 162 Republic Iron <?c Bteel. ' ' '- '?'? :???? 26?4 J?v?, '4 Republic Iron ?; Bteel pr.. 85 J S.V1? .M. | 86 ? 8.7 ! 85?4 ?, Rock Island . 25--, : . ? . ?.,t>- 14 Rock l*l:in,l pr. 49 I 49 41?*-! 1'<j - ll St. I, ,v B. )?' Dd pr. ' H2--, ii?u'?n?5ii??-i ti2 . .*?-., 28S 28M . 20' 21 ? 20t, 21 2i 22 I 22 J 22 --'?> 41-5 " 4''? ?;il 13% .' ::i'4 34?4 34% ':A'\ SS^I ?4?4 . Itk' ..", 1104% 104-X 104>4|lflS M-K f,4'l?l 64 ! M 53%l M 2DVi DO ; DO l!i^? 20?4 I 7*4 10? ,\U * '? - ?''?? ?7% 37^4 - , 109?4 l''r"* . 7:. :;? 74-A Ti"-, ,T. ,119-4 ' ? ,| 30 ???i 30 1 3D BOU 31% :?:?; 19 ! 49tt 49% 50 12314 1234 123-4I1?3K I23???ir3% 1100 |1?%|100 -lic% l"'2-\ I"-"? 110 ill 110 jilt lio 120 . tS% \3% 33| ::. ' 1 pr.. - V, : 85 ! S5V: . I!? It 1 1*. .' 41' ? 1:1 UU it*, t0% tl .;ii2', 1)2", 142*4 H-'.lt-1, 112-^i uck , Bo itbem Pacific 80 it hem Railway . ? T? nnessee ? 'opper . 41?. - ?4 Texits .M- Paclflc. 400!? ?". Third Ave. K. R. ? tf?.... 3,7ftO|? ?4 Third Ave, )?. R. w. i... 200?'s Toi. Bt, L a. West. 4 T'.l , S' I. K- \V. || pr.. \ Twin City Hap. Ti. ...i.i.ii Typewriter Co. 101 IlOI 101 101 no.'? 48,5001?1% Cnlon Paclflc . !73%1744il724'172H 10 ? United Dry Geoda.h*> 100 :??? 100 M ' - un ? United Dry Goods pr. 100 ? '?? United Railway Invest.... :-:l\ 11% 31% 31-J 31 * ' S. C. 1 V &? ]?(,. |?4 ?i itfd 17 it\\ 17 LlOW - - United States Rubber. 19 4:? 48?4 4>?1. (-' ? . 11J.600,? 4 I'nitdl States St.-rl. 681.4 68{ ?? . 100 ?4 United Butes Bteel pr.'lip, ni'.'iim nix, 111 1114 UUuh Copper .AT'; 200]?4 IVirglnla-Caro, ?"hem. 544 "; fMi_4-., Ivinrinla Iron Coal s\ Coke DO H ? M 1?-.- 4 IWabash .? ?',' v.\ PA I ? ?Wabash pr . 17 17 i'. . '..\ ? :.' 17 imi s Wells-P-arro Expresa .ro liai 161 151 149 151 - Western Maryland . ? I 9 !00f? 4 IWestern I'nion Telegraph : 701 1 \S'.<tinK'liou??e El. A Mfg.. <Wt I .? ' ui.. el ? Lake Brie 1st pr 11 11 11 ' 11 11 ID 1 , -il. Total pale? for the day. 424."27 shares, compared with 517.041 s Total sales. January 1 to January 3. belusive, Sin 0.?2 shares, hares for ?he corresponding day In 1911. compared with 9:?S,7??' shar.-s for the sam? period In 1911. Early Advance, Then Irregular Decline?Money Easy. The pace ?of stock market price Im? provement set on the first business day of the new v?sar was too rapid to be maintained for long, and the slackening occurred before vegterday's session had proceeded far The opening was strong and activ?. and the Met continued ?o ad? vance for a few minutes, the le<*d being taken bv Lehlgh Vallev. which rose mort than 8 points on buying, accompanied by revived sports of a "melon cuttin the directors at their coming meeting. Profit taking on a heavy -rale began soon after ?W opening, however, and new lines of shorts were put out. th* selling from these sources operating to check th* advance and to initiate a ?downward movement, which continued during the rest of the session, the low ??-?? prices of the dav being made in the .a??* hour and mos* of the prominent *___??*_ closing at small net declines, while some of the specialties suffered losses running from 1 to nearlv 5 points. The Panhandle stocks were ?-onspieti ously strong as on the preceding day. and there were rurnors -*f an,increased dividend on ?he common Lehlgh Val? lev. in VblC- the tr_ding was larger than in Beading or Union Pacific, and second onlv to United States Steel com? mon, los* most of its gain before the close Its net advance being Just under 1 point T"nion Pacific and Reading closed lower than on Tuesday, after having shown pretty constant heaviness, and Steal common, which has risen to a new high record for the period beginning with its touching 50, a few weeks ago. receded nearly 2 points, closing at the lowest, a net loss of about 1 point. The copper stocks were all active, makir.K early advances, but closing fractionally down, in spite of the encouraging out? look in the copper Industry There was some commission house and reinvest? ment buying in the early morning, but during most of the day the transactions in the market were almost entirely pro? fessional Large issues of bonds by railway and other corporations are looked for in the near future, one of the first being the $35,000,000 Xew York Central debent? ures recently authorized by the Public Service Commission. For the present the money market continues in a state of extreme ease. The rate for call loans yesterday did not rise above 3*6 j?er cent, and touched 2"?i; and the time money market was lifeless, with rates unchanged and with borrowers disposed to expect lower rates, and therefore de? ferring the making of engagements at the current level. Foreign exchange rates were fractionally higher, under the influence of the easy money conditions. A shipment of $250,000 gold will be made to the Argentine by to-morrow's steamer, and arrangements may bo made for sending consignments of the metal to Costa Rica also. Both opera? tions are for account of Paris bankers, who figure that in view of the prevail? ing money market and foreign exchange conditions here, in contrast with the hardening tone of money in Paris, it will be more profitable for them to make tho withdrawals from this centre than from their own city. The weekly reviews of the iron and steel Industry report s continuance of the cheerful sentiment among the manu? facturers, although expressing? a ratli.r qualified optimism as to the volume of orders to be looked for within the next few months. _nd noting that the heavy business booked toward the end of De? cember apparently reflected to some ? \ tent the desire of consumers to g?-t their orders in before the going into effect of the higher prices for steel products. An indication of the improvement in the general business situation was affonl.-tl yesterday by the summary of commer? cial failures in 1011. total liabilities being $10,r?iX),000 smaller than in the preceding year, although the number of individual failures showed an increase. The report of the Controller of the Cur? rency, summarizing the returns made l.y the national banks in obedience to his rondition call of December ft, showed a loan reduction of R301.000 from Sep te.nber 1 and a loss of $32.736.00?) m cash holdings. Since the call of ftp IT$^4%'^X ~?-&nn -ave incr> MT.100,000. i^v^,.^, and ?tsh holdliSTy SUNDAY'S NEW-YORK TRIBUNE f.rMii!So im?"1 in th0 United 8tat" BOND MARKET SALES. BSD ?"hi?e*? Hv I Kin. LAN* Gold 5a i r.?.111'. 4 do T'nlf 4?. ?? 1?KOO ?l-i 4'KMI do .. 1000 do M 00 Marine ?Ha l'itifi dr. 4? . ... M .?20000 do ? a?1* TOOO R ol C ?'.? 10-?4 1-' 0 do ? S7 1000 N V Can 4? ' l'**"??? do 1M1 . . . 101*4111000 do sooo Va 'is Dcfd :?.'?-?> m St Ry Qen ? 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SOOOO do . *9 lit BOM do . 04*4} ?KV)0 do ... W I0e?-| do . '.'. IOM do R R 4? 72V f?n-io .to Pvt 4*.. H7 art? do .... 72': ' I40M .!?? _ ?- , 1000 do . . . . 7."'.' in ^?o do 4000 do . . 7.-4' 1 00 So Ry lit . Ofa-?o do .72'i' IOM ?'.. .10TH lOiVy. Chino ?~op llOflOO d?. (!?-n 4?.. 70 ?a .HIV l??o?i do ...... 7vi 1--000 do .11" 130000 do P'.ooo do .Il*?',' ,:ik?, t ?? 1 a R V)0O do . I18HI ?;.., Ba 10l?i' ???T?V> TAP Rof A 125000 T< ?'i? ?'.. <M Frt 4' s 07", ? 1000 r T??- a- T.t 14)14X0 Third av ?'in 4',.- .101 I 4 ?MM .WO To;, To!? 4a. ?'IV--""1 . ..... IS?! 4?>00 D A- H Cvt ! MM <).. ctf?... . 7H>, 4s . 07*?,111 ' M)0 do A'lJ .')? 10?V? do . I"?< t ,v 1. 7fii; )?ooo do Rff 4s. !??*,' B?300 do .. M . I-10O do . 0*1*4,1 IOM ?Jo l{*f 4? 10?Kl do . B-%] w I.S.'.??'. 1M??XI r?'i) * R <! '7!. -' Ref ?"??< "-?''V BOM . , BOM >i" . ???'?",-??iad r ?.1 ?, in?-.. 7'.?* ifaf-00 ?to . si ?i???>() do re li.i.Hi do ... ? ? . , 7''.'-. SIX)'? ?Jo . BOM D H??- <?' ?r''?. T4*M 2f?000 do 7?i:; ?JUKI !),) Pon? 4' - . 7. j*0M I ' r-'XHi dr. M? i;t,-H?x) do 7i;i' 4?-? .-.. s'' ?' lixx. I' It a i- ' 12ix?0 do O't ?Is |S4?M0 I" r I ! 4- l".i". n ."*? liixxHi ?jo not '? n 2'^xtO do . 7??4MSOOO do .Il7'i 4?>?>? ?I?. . 7? t??-(x?i do ?7'vt 4? IOS 4?X?0 Kl? R C Tlv I ,-dxx? do .... ? I 184500 do . . . 2con n? p i?t ?ti?.ii_-; |?-W r iiv?. inv P ! .tor?. ?- . >__*? SMO r - p a uni, 2000 do . .00 1000 Hhv Kl Ry ' MM I ? Rl b t_ 104? B? . 00 tsmxK. D fl Steal ' IOM HI C Ref 4a. 0?'?"i' toi"; 7**7)0 Int-Met 4'-.?. M?V 1.-.. m m? ,|., 204MX) do ? I '..'?<? ? . l'xxxi do . SI ?14?M.| \V?1, 1M :,? irxxHi i?.?*"'-.' in?*) do _ MM do . . BO'-tl l'?H. do . I?x?.i do . . ?O'-il tixKi ,;., ion 7UM.1 Int P. T Bs.10.1H ? 15000 ?l? ? ?_XM? ,1? . ..l?l.".l.- MM?) do t*;?', ?<x?m In? V 1 B? ? *"' ?334100 HxXHI lot PC - .- "X; 1?xk. do . ?*0 I l?xxi 4000 do .?-7 I ?oik-i ,|? Ifxx? Int Ht P TV I do 3O00 K C F P A- I.144O00 do BT M 4s. >?- ll'-'-Oil do ... .NX? Kan A'- M 4-.I MOO do .. B7U 2<x")0 K r Ro Ba.. 78-1 S0O0 do .. . .?MU: IOM Kon C.nt 4? Ol'-'l.xxxi r|n . ."aOOO 1.1(1, .-I! '? I L1?XI 10-0 10000 do . , p T I-' I" Clfx . loixi l.sr r, n. f tt "-'?: 00 do Kxt r-.. I'?1V lixMi Went R| Be "-00 I- S a. \| 00 I llOix. Waal Mil 4s.. *~\ 4? 11)28... MHl 40O) do .87% I BOND MARKET SALES. ItYiO do . 9fti* 1 1000 West S F ?'??. O.V4? p.? o .... 88% 11000 W Kh 4s U-g 9D ft?r.??? do 19*1... Oft'.l 10OO <5" ? ; ' ? ' "" 13000 do . ? ' W N Y & P PO? L Myets 7.? t f>rL4* ?'?. otu r.I?X?0 do 5? w I. MHl V??? ??ir? ? - ?;? 101 1.. do . .--'?! lf"" W * '- r ,,,t ?. 17???0 do . -- - rv,-. 4...... ge 1000 T, ? N Osa ' 2"''0 w ' r,"n *" ?'-* ?>t .no ' Total .-.al*.' of hen'?. ?" 0DD.000. INACTIVE STOCKS. The following were the laut actual sales and th'- ?? losing quotations for Stocks I" which th?re wore no transactions ft . n the N'-w Tork Stork Kxchan I .ant ,-?'i??tng?, mala hid. Askett tatest D48 10? iel rtsn i a pr. ...I 74 roles pr ? irsks Slvn? Ar; ?W IDO 1*? .1- a. roaadrj pr 117% H'? ??J? an coal '??? H * American Cotton < . ?r 9 . 98% ? -press 211 210 215 an Hid?? A Leath.r , ft1-* S* American locomotive pr . i?j?t? 104-. K-* 1 ?-? 4?* 4*4 Americas Malt pr 41% 4D 41 ?i m tricas .inuff pr . 101 . Amtrlcan SuRsr . 115% 115 ?*? ritir.< Paper rr Vnn Arbor pi or? a Ohic- i- -."? M ?'i ...? Mining 1% 1*? 1*4 n??4 14?. 14.: ?ik ? " ? 0 -. put? . !<"?:. 100 1? Uuff. Koch <v Pitts pr.IV 12? ISO ranada Souih-rn '? * \rr.*r Tel.. .Ill 114 11?? O rural of Now Jersey ... 31S DIO 31? ?. Alton i" I73* 24 I . <tc Alton pr 40 25 40 ? 1 , list pr . ? M Il I- pr 14?; llV-j 146 ?? Chic St Snrxhmestern pr 191 1<W 105 -, - 141 ?? .-. .. rr HD IM 2 Chlrago 4?* IL ?v? : rr On '.?'.* 110 1?1H 47 44 4H M 7T ? ? a:. B :f ^ 140 ( .-. '.'?''. 99% 5*4 B ? 4 Macklnae.120 no <Y Atl pr .17'* 17 l!l I :-r i r lei'-* el M r B pr 9" i*1? .: Mining A smelting., lb1. 12** 1"> i Mi- Ins ft Bm? tir.-; pr 41 DD 41 . . . Of 127 ral Chemical <*o pr.um S l?-*'* 1"7?* -.,r? . 84% M *5H ral Motora pr. 7? 75*4 7? Mining . 40 2? 30 H trie Railway- ?S ?ft ? li ?? Valley . 129 j IDO 132 ?take . ?7 ?7 M 1 Illlncl? ?'?-nlral Lmtaed Un-? I I , -- ? Ingor.oll-ltarM Co .1?>5 1?W ? ?II Rand <"o pr. MW MB International Hsrvaetsr pr...ian 118% HOH International Paper . ft1? 0*4 10 lows c-ntral . I*-*. 15 1?. lows '???ntral pr . 80W DO ,- ? itv southern pr. OU1* ?V4 DD ,\ ft pr.. M 7 7;* - . ,. .?. i). ? Moines pr? 42 :i7 .',o Btoel .DO i.*-1-. aw | Ijike Kri- <v Westers 14 12? 15 !_.k<- Erie i: W,.terri pr. 11% 2?> 31 .32?! :!25 4M? land .45 44 :<2 v Companh-a . 7?1* 7S 7-?4 M i pr.00% ?0 ?.':: 1 Manhattan El? ?ti ! IDO 134 IM ' ?-partm -nt BtOT? ? 71 7<> TI M.,-. Department Stur??? pr.lil i?.*1 IOS , Ml.-iiiican Ontral . ? - U<" ? Uiula 84H ftl i Se St I.<,ul? pr. . . BO , M Bl r * S B M i..-ai.e<i L.. BT% 87% 00% ] Mo, Kan ? Tex at.... . D4% 44 S... ..148 ?4 ir.T '-a un I National ni.cult pr .127\ 124 12? ? ' ? .? | ?. Stp?- pr... 98% M t>? ' National of Merdee t.r.. ?;7 ai 72 , N y. chic Si. Bt I...*.?? r.4 :.7 ? N V, ? l.l A Bl I. ISI : . OB' ? 90H IU? 1 N V. < i.i, .s. l-t I. 2,1 pr. ta ?4 T.". Hem Torb l>.?' i?.84% DB I New Y.. , Dock pr. tr,\ , n r, n n .-.n .i8T% i-.", un , 1 Xcifoik S-.iiili. i n . 52% 44% k * Wetters pr. . .h>'.. -.?? ;?i 1 Ontai . i i i . I ? . ??? '-. 9?l i 1st pr... . 102 *-.', 100 ? i-,, i- pr... . .. ? ?? , !??- 100 l*a< Itlc Tel .<? Tel pr. M :?; -i.rn .-j?! ta DO ? Car A ???>..??.IGO . 1034 l"i Plttal>ur*(h Coal . l?% i*?'< i>?ri l'iMKi.un'h Coal pr.,. .. *-'.', Mvi ?i l'Ut?, ?*t Wityn?. & <"hl? ?17::'j i?',:\ .-I,-.! <',ir pr 102 KM ' j -, rvlca ?' -i; oratlpn I? . ? 111 ? llver . D% :i 4 . :> : ? |% , ? . . Ml Itcading lai i i . ... '.??? mi i ?_. ?,,.!???> !>l '?. BB 2<i<? 17?; .Yatertown .-. 0ft1sas.llD% U7'i mta ftsa ift pr.H B7 oo Bl 1, .-; S K ?' >v B m ?"fe- .-145 I ?.?i ? i. \ s p r .?, i: in eft pr.lOTV KB 12:. Bl 1, .?? s r C ? I m ssw.. t?i ,-.i; Do lia H.iiihw-?t.-rii. :il?i 2914 81% -1 \j, n- Bouthwestern pr.... 71 r*'? ;>,< ? Roeburk pi .121 "? 121% '???rr si..-! a iros .44 41 ir. ? . n Hteal .\ Iron i?r. .112 I'orto Hi- o Si r sl 'j TO K, Kouth I'urtir Hi. .? BUD ?r pi ,* ll?i H?7 ' ? 112 Rail ? 1.71 'i I?fl% 71 "j \i x O ctfi . . B2% BO N mi Milling ? ID r. 17 ,1 1 Hilling pi ? ?'??"? I I-., 1... I 87% 84 10 *? '. '.' sA% Tuin ?'it Rapid ? 1 .,l-i' 1 ' I?-' l.?2'. 143 L'nderwood Typewriting pr..U0% 110*4 ll*?*4 1 ni.m Him ' l'ai ' ni m -Bag 8 1 u- r Pi ? , :.i Paclfk pr. ? ? B2 . 8a . '?3 1 tilted ?'?i- ir Ufa Pi ',H1 I"??? K?l 1 tilted Rj - in?.- tmeni pr. ?. .*>!' r s ?? 1 hpe a !?" ?? ? '?' ? ?""'. DO .1 I site 1 stii..? Esprees. *?? M I" B Iiiiii-.ui.-ii Alcohol. 24% 22 28 II s Indu trial Alcohol 11 1 ? Reell 1 ,?.- inn - - .. if,..1 s- Running. ? ? 2 2 .i n lion 4 Ref pr. M i-j,. I' S Rubber lut i?r. il"-, 110-4 m I' S Rutil., r an pr ,. 70 7?'.. 7?!'. 11- . 1.. 128 ??''r.i?ii.i ftallwaj? * Power. ?1 - n Miirylanil i,r.-I ,;, Mfu' l?t pr.117% li:, 11,1 1 ?' ,V l.:?k- Krll : ; 4 1 le M pr. S ? '.. i, .'? 1 TA N. Y. AND OTH?R GAS SECURITIES. HI,I .W'i j III.I ?Bins 'i :.?.. ..*? .*.i ? usl |i?r, 17??, Q B| 102 I't't'i Pai * P O... ?fi on ?Be 1st S 5a.ie.: 1?,'? I *i- r ?i .'?*. 0I?4? 1 I ?;?? 23 ' Man.lar-i .." ?0 ?In k <; 5? HI ; 44 l.t ?? . I'll 10? ?K C ?; I 88 1*4 ?! 1' OBS Is., OS uv'? ?M?U? in ?:. ii)4 nit? j-SH'O com ?la 10* 104 N : Usa It !?-.? ii'i :?y>? O l?t 6a.l0lV? 102W ?NYI:ER 51.104 M4 IB U A P 5s., 60<4 14 ' H BANKCRS TRUST COMPANY 7 Wall Street - NEW YORK - 120 Broadway Condensed Statement of Condition on December 21 st, 1911 as reported to the Banking Department of the State of New York RESOURCES Bonds aod Mortgages Bonds and Stocks Time Loans and Bills Purchased Demand Loans Cash on Hand and in Bank? Exchanges for ( ?leering House Real Estate Accrued Interest Reeeirabt? JAIWF.S S. ALEXANDER. I'r*".].li?nt National Rank of Commerce, X?mt York STEPHEN BAKER, lr-v lea? Bc.nct ??I the Manhattan ?Ca., Hew Yotlt SAMUEL G. BAYNE, l'rev.feot Seaboard National Hank. Now York EDWIN M. BULKLEY. Spencer Trask * Co., Hankers, Kcw Yofk JAMES G. CANNON. i'resllen: Fourth National P.ank, New York EDMUND C. CONVERSE. Pre?, lent. New York T. DeWITT CUYLER. fit '-nt Commercial Trust Co., Philadelphia HENRY P. DAVISON. J P M itu Sc Co., linken. New York RUDULPH ELLIS. Pre.ident r-idelity Trust Co.. Ptiilade.phl? E. HAYWARD FERRYS Vice ? |-re-,i.lent Hanover National Bank. New York $ 2.75O.0O0.0O 38,214.016.38 59.315.076.32 17.901.853.26 33.502.979.82 1.874,725.79 2.935.522.72 621.306.10 $157,115,480.39 DIRECTORS WALTER E. i-REW. President ' .om bichante Rank, New York FRED K T. HASKELL. VPres't Illinois Tritt ud Si.inct Bsak, Chicago A BARTON HEPBURN. Ouinoan ol the Board. Chase National Raak, N. Y. FRANCIS L HINE. President Pint National Bank. N. Y. THOMAS W. LAMONT, J. P. Morgtn it Co.. Hanker?, New York EDGAR L MARSTON. Blair ft Co., Basken. New York JOSEPH I MART1NDALE. President Chemical National Bank. Now York GATES W. McGARRAH. ?'res t Med?tales' and Metala Ntt'l Bank, N. Y. CHARLES D. NORTON. V!,r I'residen: Fir.: National Rank, New Yurk LIABILITIES Capital Surplus I ndirided Pro??. Unpaid Dividend Deposits Certified and Other Outstanding Checks Accrued Interest Papable It corred for Taxes S 5.0O0.OO0.0O 10.000.000.00 3.211,021. M 1,488.00 136.396,884.57 1.745.894.17 683.080.07 76.511.72 ?157,115.480.39 WILUAM C. POiLLON. - r gn g m. y. DANIEL E. FOMEROY. Tin n iSa-a. n. y WILUAM H. PORTER. J. P. Morgan ft ? .. Banker?, New York DANIEL G. RE?D. Vice-Pre?i.irnt liberty National Bank, New York BENJ. STRONG. Jr. EDWARD F. SWINNEY. President I mi Nauonal ti.nk, Kansas City GILBERT G. THORNE, Vic.e-Presideat National Park Bank. New York EDWARD TOWNSEND. Pr-vl.-nt Importer?- ft Traders' Nat I Bank, N. Y. ALBERT H. WICCiN. Pres.dent Chase National Bank, Now York SAMUEL WOOLVERION. President Callatin National Bank, New York E.C.CONVERSE./'re?/i/tW B. ST R O N Gt ?JR. Wee Pr?s, V?C.P O ILL O N. Vice Pr?s. D. E. PO M E R O Y, Vice Pros. F.I.KENT, Vice Pros. K. B. t H O R N E . V??? Pr?s! F. N. B. C L O S E , Secretory G. W. B E N TQ*N, Treasurer G. R I C H A f?p S. Asst.Socy. H.W. DON OVAN, Asst.Treas; B.W JONES. Asst.Secy. H. F. WILSON . Jr. As.st.Secy. R.H.GILES,. Asst. Tre<?s: , H. N . 0 U N H AM. Asst.Trcas. I . M'I C H A E L S , Tri si Officer TO HOLDKR- OF First Mortgage Five Per Cent. Bonds Of TRl ALLIS-CHALMER- COMPANY Th?> default by IhS AU-S-CHALM-R8 COMPANX Is the payment of tho coupon due January 1. 71? 1 _r. on it? Firs" Mortgage Five l'?r Cant Ixinit? ami the declaration of the '?? that the bu?in?-_i of the company casne*. ho profitably continued unies? uil'litioiidl working- capital be supplied and the Lta*_aa radia ad, rc-ndor It essential that the bondholders should act unitedly for the protection of tt.??r Interests ?n?l the eOBServa? tlon of tha t.UM.i.L-8? and property ot Ilia Com? pany as a KoinK concern. The company hoe staU'd that the bond? Issu???! ami nutiianding In tho han.I? of purchus?-r? amount to 111,* I4S.00S, and that Ihuo.Ooii In addition been pledged a? collateral for loans. It also state? that the current llabllltle? of the com? pany. Including tho?? for which the BSOO,SO0 bonds are pledged, amount to $2,?70.0?)0. and that the surplus of current assets over current debt? Is estimated at $7.130.000. Thla eatl in-it.- Is assumed to he on the basis of value to a going conc?rn. Serious loss to thn bon-lhold erf, as the principal creditors of the company, may result If their Interests are not properly represented and protected by a Bondholders ?'ommlttee authorized to take action on their behalf The undersigned have heretofore agreed to art as a Bondholders Protective ?"ommutee. an?! bondholder? ere again urged promptly to deposit their bonds at the office of the central TKD-T COUPANT or new YORK, with the .tanuary 1st. 1012. coupon at? tached, ?o be h*ld und*r the terms of the Pond* older.?. Agreement of December 8. ISll, of whl'h copies will be furnished on applica? tion to th? Depositar? ? '.?rttfWtes of Deposit will he Issued by the ?KNTRAL TRl'PT COMPANY OF NEW TORK. and application will be made In due course to lut these ?'? rtlftcate? on the N'*w York S'ork Exchange. The ?viiiinilttee ha? arrangrd with the De? posit? rv to advance to depositing bondholders th" amount of the January 1st coupon upon the ge. orlty of the respective bonds and cou? pons deposit?d. Interest at the rate of flv? per c*nt. per annum will b* <-harg*d by the D'po.?'. vo-k. ?omoory -? ISIS .MME.?* N. UAMACK, Chali-mas ; H HALTER UcAe.il. C_____n W. COX. PBSD. VOOKI, Jr.. JOHN H. McCLKMPNT, It'.ii'llir.lilrr? Committee. ri.-.N'KI.l.V L. Pvic ???"K. Secretary. OTTTHKIE, RANOS A- VAN' PINPEREN. Coun? sel ?"ENTRAI. TRUST ?"OMPAN' OF NEW I is.'. Depositan -.1 V. ?II Sir ? t \'e?- York. N. Y. R. 0. BONDS ARE SAFE Il?*<-aii?M* principal ts assured by assets flv? time? tt.?' .imount of bond? Issued. lie? s n ?e tlil? enmpary ha? never deviated from rlactpli "f purchasing real estate for |..-t:n.,r.,nt ownership. Ilerause Its buMne?? las been suco ??ful for fifteen ><?<*?. with lacreealag ?trcngth. ?? curlty'. profit? and dividends. He? ?use Its securities nr. not influenced 1 y .1 or financial uncertatnt i. ??. SPF.CIAL INCOME Q Q?fkf BONDS P.\Y O i 00\X/0 10-YEAR 6" BONDS. $100 EACH, interest paid semi annually by check, can be bought outright or in annual payments over a period of years. Of-Sff $ I,?.?Ml.(Kill rcpitlil Investor? to ?late. Circular r> d'sertbes our busiiiesa In detail. Seal m ' NEW YORK REALTY OWNERS Assets SJ.160.0UO. Cap. A tur. o?er 12.000,000 l?'i Ill-ill VVKNIV5, NEW TORS'. The "Rainy Day" is sure to come but you will be prepared for it if you have saved and invested wise? ly in sound, marketable securities. We can tell you about such securities and buy them for you in any amount you wish. No amount is too small to receive our most careful attention. Many high class bonds are issued in denominations of $100 and $5C0. Write for book let. "Small Bonds for Investors." BEYER&C0MPANY "The tlumlritl liollur /load llouae" 52 William St., New York THE AMERICAN 'I ? ?MA?'?'? ? COMPANY, ill n \ New York, J iiit.ili > I, uni;. Notice IS :!"? transfer ln;oks ..t i'i. i . stored four pei renl (4%) soM bonds ?>r Ti.?- Ai aiiran Toba???? Company will aleas ut clock i- M. Thursday, January IB, I'.il' .m of ! Il? re : 'I'"' Pat ruurv I. 1.12, and re open ai ten ???<?!.?? k a. m., Fcbr'uary -.'. 11? 1 _? J. v \\ HK'Kfl Treasurer. t.* ? ' ' ' NEW YORK CITY BONDS. iKurnl.-h.-.l by \V. N ?\.lir _ Co.. No. 4.') Cellar street.) ?A.'.iite.i lot?seat io bo added.) Uli Asked. ?? ,1 h ISS0, "i-. 'M.l??: i0fU ? t , it. ""i V"<> .103*4 102S , ?iovei iber, IM7.UH'j 107*4. ?4?r. May, r?.:.. .H)""* Itftt .r, mi..102 n.v, ?4?., May, 1911.IOS n _??-. Ma? IMS.i?i."-4 ios 1931 . Uli1, uni ?4h. M.)\. IS?1. '?*-"- l?.o . 1910.SB loo U?, November, IBB0 M.os? <x<\ ,4?. Noverob? r, IBM.I'?'? w, ? r, IM. '.V.. Ml ?T ?. Way. IHM . M? ?.;?? .-i m . If? ?at?. NotemlJer, 1941....,.SS .sit?; ?11??..- maturltlea i:i-.?:i tf?l 1 4.-",'.f4 10 basis ?? *..u) Df- Intarctiangaabla IReslatered ?;: -1. ...I and ????.i|?oi). SUNDAY'S NEW-YORK TR BUNE Mailed any?//- ero in the United States for $2.50 s year. ._. I TO HOLDERS OF First Refunding and Extensions Mortgage Bonds of the WABASH RAILROAD COMPANY THE UNDERSIGNED, as a COMMITTEE, ARE CONDUCTING, AS BXPBDI? TIOUBLT AS POSSIBLE, AN INVESTIGATION OF Till-: FINANCIAL POSITION ASD REQUIREMENTS OF TUL* WABASH RAILllOAD COMPANY AM? OF TH? i HY8ICAL CONDITION AMi REQUIREMENTS OF ITS PROPERTIES TUB COMMITTEE HAS RETAINED MESSRS PRICE, WATERHOUSE .<- CO. TO EX? AMINE AND REPORT UPON THE FINANCIAL P08ITION AND ACCOUNTS OP THE COMPANY, AND MR J. C. STL'HHS, LATE DIRECTOR OF TRAFFIC Of UNION PACIFIC AND SOUTHERN PACIFIC BY8TEM8. TO EXAMINE AND REPORT UPON THE CONDITION AND REQUIREMENTS OF THE PROPERTY. The object of the Commute?' is t<> formula ta and earry out, in co-operation w itri MESSRS. KUHN, LOEB A CO., BAWKEBS. such im-asures approved b} I ?? irilif?-?? and the Bank? rs, as may be hot adaptad to meet the wants ?rid de\??l?,|i the poasibilitles of the property ami place the (financial Ktrueture of the Company upea s sound and permanent basis. Tue Committee already .??presents ? large amount of the OUtfctsndina boni? of th?- above Laaua, the sqv -table tbust compabt or new yobx. Trustee or tbe mortgage se.urlnK th bontla, is the Depositary or ti.?- Committee. The n< nd? holders' Agreement lodjred ? 1th it mav b>- examine?!, .nul copies thereof obtain??!, at It? Office, NO. 15 NASSAU .TREET. NEW YORK CITY. The Trust Conipan: -ill r'.-ue Ct-rtiflcates of I?eposlt for depo-lted bunds. Application to list these rertit? ??it?-s on the New fork Stock Exchange will be made In due course. The Bon-i. holders' Aarsamant albinia ?it'po.-'itinK bondholders an opportunity of witiuii-.twin-* ta- ? case the plan of reorganization formulated by the C?mnYlttee should not meet with, their approval, and limits the contribution of withdrawing bondholders toward? ?:.? expenses of the Committee to one per cent. In view of the appointment of reoeivers for the Railroad Company and tl.# default In the payment of the six montha' interest due January 1, i:?)2, on the ahove? ?nentioned bonds, the Committee ha:? made arrangements with the ?Jankers to advance to the Committee the funds necessary to enable it to advance such interest to ltor? of bonds und the (Committee Intends to make provision for takinK ? i advance? in any plan approved by it. Coupon bends should have the January I. 151?, and ail nub-sequent coupons attached ami registered bonds sho .Id be accompanies by proper instruments of transfer in blank. The Committee urges upon all bondholder.- the importance of promptly deposit? In* their bonds with The Equitable Trust Company of New York. i<> the end that the Committee may have the fullest, yosslbl.. co-operation of bondholders In such mea-. ures as may be found desirable for the immediate pi<?te? tlon and lmprov?;ment <?f ths security and the sound reorganization of the property in the interest of the bond? holders. The Committee deems It propsr to state that It was constituted at the Instance of the Trustes of ths mortgags sscnrlng the abo<*e-mentioned bonds and as a meat? ure of proteotlon for the bondholders, to which the Trustee requested and received the acquiescence of the Baliroad Company. The slcgls object of the Committee la the sound nnd independent reorganization of The Wabash Baliroad Company in the interest of the holders of the First Befund? Ing and Extensions Mortgsgs Bends, and nous of Its members has any inconiiattat commitments or relations to other properties or reorganizations. Dated New York, January 2. 1912 ROBERT GOELET, EDWIN KAV/X.EY, THOMAS K. 11UBBABD. AZ.VIIT W. XBECH, BOBEBT FLEMING JOBANNES LUDEN, WINSLOW S. PIERCE, Chairman, Committee. II. R WIXTHIK'P. Secretary, IS wall Btracti MURKA?. PRENTICE A HUWLAND. PIERCE & GREER. Counsel THE EQUITABLE TRUST COMPANY OF NEW STORK, Depositary TO HOLDERS OF First Refunding and Extensions Mortgage Bonds of the Wabash Railroad Company Receivers have been appointed of the Wabash Railroad Company, and the coupons for interest on the above bonds which matured on January 1, 1912, have not been paid. The undersigned, owning and representing large amounts of the above bonds, have formed a Committee for the protection of the holders thereof. No one of the undersigned Committee is in any way connected with the present management of tho Wabash Railroad, under which the recent receivership and default have been brought about. To the end that co-operation of all of the bondholders may be secured, the undersigned Committee requests the holders of the Re? funding and Extensions Mortgage Bonds to deposit their bonds, with coupons maturing on and after January 1, 1912, with the Centra! Trust Company of New York. 54 Wall Street. New York City, as Depositary, which will issue its certificates of deposit therefor under the Agreement of Deposit dated December 20, 1911, under which this Committee has been formed. The Committee has arranged to advance to the bondholders who may deposit under this agreement the amount of the unpaid instal? ment of interest defaulted on January 1. 1912, but it should be clearly understood that such advance constitutes a loan secured by the bonds and coupons deposited. The offer to advance interest on deposited bonds?by this or any other committee?is intended merely for con? venience of depositors, who should realize that the acceptance of such advance is optional with them. Depositors who do not care to accept will be at no disadvantage, since any reorganization terms must apply equitably to all depositors under this agreement. Copies of the agreement of deposit may be obtained from the Depositary. The agreement provides opportunity for depositing bond? holders to withdraw in case the plan of reorganization formulated by the Committee is not approved by them, and limits the contribu? tion to the expenses of the reorganization of bondholders who so withdraw to one per cent, of the face amount thereof. Application will be made in due course to list the certificates of deposit on the. New York Stock Exchange. New York, January 2, 1912. JAMES N. WALLACE. Chai-man. President Central Trust C mpany of New York. HENRY R. CARSE. Vice-President Hanover National Bank. New York. WILLARD V. KING, President Columbia Trust Company, New York. JOHN J. MITCHELL. President Illinois Trust & Savings Bank, Chicago. ROBERT L. MONTGOMERY. Montgomery, Clothier & Tyler, Philadelphia. H. K. POMROY. Pomroy Brothers, New York. WILLIAM A. READ. William A. Read & Co.. New York. J. HERNDON SMITH. A. G. Edwards & Sons, St. Louis and New York. ALEXANDER M. WHITE. White, Weld & Co.. New York. ALBERT H. WIGGIN, President Chase National Bank, New York. SPOONER & COTTON, FRANKLIN L. BABCOCK. Counsel. Secretary. CENTRAL TRUST COMPANY OF NEW YORK, Depositary, 54 Wall Street. New York City. American Telephone ?4 Telegraph Co. Four I'er Cent Collateral Trust llonil? Coupon? from the?.: Pond?, payable by l!|. ir tenus on Ja.ius.rv I, HO'-, al tha ??ill? ?? of th? Traaaarar in n--,? York, will lt*s i>_i?i )?>? ?h?' Mi.iihHttan Tiusl ? '?.mi-ii.?. 119 Br?**_wajr. WILLIAM R DRIVBB. Treasurer. "??? CHARTER*-:? IW Union Trust Co. of New York h?i n??? vf?\i \v l'lflb Ai.. g ?gtg m. 1,'lftr A'/?.. _ ?-?I?St. Capital ft Surplus $8,000,000 Ml???? Interest on lleposlt? _ FiDEL?TT ?RU3T COMPA?iT Th. r-i-nual meeting of the ?t?v-kh<>ld*r?J t!?. KLielltj? Trust Company of New TO?? rf ,,?. ,.,,.,.,..?. of Direct...'.', the app"*li?'"";?. ,. ... i?-?..-for? of Ei.'.tlon. an?! foi ?h* ??-?? t!,. t .i- Inspectora of Blectlon, aJMtar t action of auch other i.u?tu?-s? as m?> i>r?periy ? ..in?- before ?aid meeting will be huid ?? *?? nrflce of ihe ?Company, corner of chambers ?n* Hudson Stieets, New York. <?n ?AV.Itf ?"<?*: January 17th, Uli'.', between the heoi- ?*? twelve o*clock noon and one o'clock P. M ANDREW II MARS, f"ecr?"?n .lam.,ii. i. li'l'-' j--jjj MEETINGS. _, vNNI a I. MBKTINd ?JE THE SHA*?*,; The Teachers Hull.ll.iu ?nd ??**. ?:,,., for ihe ele.iion ?>f .?flu-era ?i?<l ? tl I .1 -, .nul Hie .?'.i;-. I tl 'li nf ?IK- "'I* ,5|L" (je?*- ?_ ?.a ?e??_F"''|v ' "'"?* **efore I?. ? ?? ? held at their o^ce, IM Elflh A veau?. r.?x* l'.'l. on iri'tav. .Ui:?__\ 12th, al 4 P- - I?"* L**S?_a from I to 6. ? __? RICUMO.ND ft _I__*OTT. *e?*-f*