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DR1GGS-SEABURY ?"??S " ?????,. knot err-..0' ' ' "n*1, In ih- *!?T?r "???"???'* -i.ar*?. Our la:.-?- n,?rl?et .Ireular .No. MS *'v**? \tl?.n about the?? ' ? '??r? contain? th* latea? ,.??? ? i? ?,. 1 : ?i Irl. M?.,?nt',|, Marine An-flo Ani?rlc?_i lion?.' n ?I I Mpi??,n^' Deaeee Mfa < riere? on ? '? i.l mi \atur.il I,as * *? ' ?? ?- .-??t ?.-??rlalvaa. .Sent (.'pon Rrqtiest HarveyA.Willis&Co. ?i etefetatfeed i9?n I*- I''??.' . V ?. TI ..:?.;: s ?. i-.r.,?4.1 AMERICAN LT. & TRAC. COM. REPUBLIC RY. & LT. COM. WINCHESTER ARMS Williams, Troth & Coleman ?- lit) ? . . ?'. m .?;,,?, ??> ?sil ?t. riiorie 59<M> llam-??r. U. T. C. R. BERGMANN & CO. .'rtres'inen! Seeuritie? 6? Brusdway New York ,'(?,'./..'i m ?'. IBM 1811. ?< ? Mi I I III I? l??4 Union Trust Co. of New York BO BROADWAY OH ,a OSSthOI Fifth Av. A OMfe St. All.iw-1 lnl???kt on ll'iioalla let? as iiecirtn.' Cuardian Trj.ti! et:. ?he Market Compass For ? ???<t ??Ivlc? - eslatoM axprae??d In th? >iar -.?t ?.'oinpaas each ?reek in Th? ?aafMlal World have, acq'ilred ?'. ?nvlable ar.?1 v. !di*pr?i4>l r*put*tlori j?t ?dltor? ?r* not tipster?, nor do lalm to b? prophet?, but form their ?asna upon th? Intrlnalc *. alue ? f teeusltlae, leaving th? marl??t and condition? to (Iva th*m propar eipr??Mloi) Thla may b? on? raa s'.ti why In, ?atora follow thla d? t.artmrr.t ??. ? ?c.??ly. It appear* -rkly Send for Copy The Financial World 18 Broadway. New York. AJl WALL STREET rr?ads DOW, JONES BULLETINS & TICKERS Investors read THE WALL STREET JOURNAL TO THE MOI.l'KHS OF KI\:. PER CENT ...?-? of th?. BROOKLYN RAPIO TRAN81T COMPANY M Trim Aereen.<m .l*t.?.l July lat, 1 ? Uy the ternis of y?,ur BOt? ?n?l t!?? salt) Tru?t Agreement ?o.i ar? ?(??ri an ..ptlon to ???' hai.?? ' aotea with all unmature?! coupons attached, f?.' an equal fa?1* amount of Kirot Mnrtgae? Five P?r Cent ; Bonda of the NEW Y?>KK Ml KlCIPAl RAILWAY CORPORATION In coup?.n forra ivlth all immature?*] .oupon? attached wr. ' bearing ?h? tndoraemeai of th? Hrooklyi? Rapid Tran?ll i pa ?? of ?he New York Conaolld?t?d I'.atlroa?! Company, assuming ami agreelai i!.t-r**t thereof lour ?tteatlun I* railed to the fart that the op? tion above proTuleil for ran only be exer .'?.?I j.rlnr t? January let, l!?l?. ?04 10 avail t '?- if th? ? preeented In bearer form ??lib all u..:i i?!iir?-.l r..up"r.s attach? ' th? ? -titrai Trust V ? W?ll Str?et. Jtett v.^-k City, during bualneea hour? on a I . 01 lo the expiration ??f ?aid option, ? New Tori ;al )i?l!?4H . normal Incur.? t,- I Corporation ha? *l?<? pai?l il i Inorti*?? ?' ??ni?-. M t to i.l?. <?r- ??? pt fr..--, lor-al laxa' ?aro?!.i? York BK.iOKI.TN HAI'Il'TRANSIT C-OMPANY, l'r*?i-.ib?r J, 111.i Broadway Savings Institution1 5 and 7 Park Place, N.Y. IS? Tnute*? bar? oUrectarl U.?? I???r*at In ?rallied to d->;?a*'?u>r* , ?'. ike?*?!/, at th* r?t? of 4,-/ PER AKSXH. ICI P?Tah'? on and after lv January ITS?, ISIS ?a/?- T*-??t. W ?I B?***. Hefty !U\ IDEM)?*) 1 I I ( I III? HUM ( 11 Ml?. S\ Sh ? A ?. ? ? ? ' la? ? Pr?t i ? ? <?* ti.i? ? . ? II?? ISIS, o : in MlV B M II M ?. KIM lui M CORFORAYION. Nr? ? 4 i- - ' 1? lar? lll.lt) ;? r ? . ]m* i ?- . . tic. : ? RT K i ?.I? BETHLEHEM -ivti ( OKPORAYION. Natlee of 1 ?1 ? t.l ??aal m. I*rrf?rrrd Stock. re? ? ? ? r,r i ?^ }?? ii Of th? S???n l'er Ont I) trae Stclai stock of B?'h> ? ? ? January It. I?! .latinar? 3?, IS H, to l at 3 o clock t U to i" H H Jl >N . .= . .*-'?rretary. t>at?* . - 101* M \i.M V ? ?PPI II ? OMPANY. A ij'i?- ?Ill-It .'?tit ha? ?? ? ' at>:? L-?en>b*r II. II -t r*?-.?rd :-?Y K I.?.li'.l. Tt?**j?r l-ac4??l?r tu* IIWMMI, MEETING. ?bir a ? ; of Tin: st'.ik ?par) - ? ?r . - ? , It- a 1 way. Nr? ?..-? I n. jr. la,, I>- ?-i3?*-f 11 ? ? - a *l?c Ust\ et ? Urn t ??*?'. ar.a '.:.? . . M ?sete L?a? a? ir.aj --> ? '-:?"( -??-. MONEY AND EXCHANGE. Ill? a " r?r COW 5 ? ? . ? -> .??? ;- ? - ? . ... ? raiJ. . - ? . ?? :- ? -ji-' 0*? ? '. .' i..?'-' i????., ik i? - . at '.'*, se. nal ? -?/ l?r? :\e. ._!>.:K ' iff,- ?*?' ?*"?? ?'? "*' ? ? ? ? . . ;; ? -..tar?.? un? as nuxaa? no-.* _ r* ?**?'. .. . , . ? ?? ? ( " ? '?.'?*-*. a/.-l a?i,?al , ? . ' ?'AT-.? El.HK J - . a . ? . * , . ? , ? . . '_?_..'" ' ' ? ??? ? i , ) '?* nmOfft. - -? . , . mm tn .. ? ,(< _? ? f ?"? / T' ' , U, du, *er* 4. ?ii'? . ? ? . IKiMf?.':' > a -I? l?, 4H?-Mtt . ?* I '?.'I*. .V; rl.,. 1 -*"*?.'.t W?l i ?? c. ... FA-.K tXEASiNfl a* ? mtiemwm i -..?,? ? i ..... Cl*.???. I , v -*. I ? . ft ft' I ?ii.vr.s *.;akk<i k*? ?; i.-r-i?? ?u t?Si a ?.?*? ?y ?Tort o??4?Osa ???? St??-. em S', ktarl ?. ? ?. 41?, r'/SElON KX< Il A .r. ?'? | ?lin r?* an"! a??M Sri fV? ? '?"? '-. ..??. {,.,. |y- ? I , > , . ? , t' . .. . SfUr tem?' i '. ? ? ' ? ? ? i s*-, ? . MARKET NEWS AND COMMENT Irregular Net Changes Drive at the Opening ?Rally Follows. SOME INDUSTRIALS UP IN LAST HOUR Automobile Issues ShO? Streagtb?-Copper Stocks little Changed. Apprehension of er our for : Sgain played S01M pai market. The dei ? ? - n fron A . for thi loaa of American II? ? An?e? u a i pablic uni iftai was the overnlg ,rd OH U - 'nmunipaw bad I Mediterranean tl i th? lihort interest, which had foil practically fill the early pressore, cov? ered its commitments and priesi ? lied. In the last hour there vra? some advance in the war group mobile issues piuminent. In the setback around tl the more speculative indusl tl.;- weakeat, bul in few i il i es ai ? quiet and yielded litt ? l the naris declina or to tha later lags, Baslaess. however, fairly good ?tale, more 'nan shares changing hand?, during ,; Final change? were generall? sad Irregular. United Stau down nearly to 8?S, roeo? I a point, and ended with a good fraction. General Mol a new high mark, a' 61C, up ti i and Studcbaker en a ? amount of trading wei." up 10 point?. P?epublic Iron ni I Mercantile Mann? preferred wer? ticularly favored and ? gains of some extent. Western Unioi with announceiiK'nt of an i dent!. The copper stocks were greativ changed on the <lav. Increased dividend?, on the porphyries, anni . at the close, bad 1 ? some time. Domestic new? in ad ! .arger Industrial disburse.-, nt i bro i? ... i trade re] ..n ore an.' a atal non production for Novembi r that Bur paaaed the record i reakii g dail? ? c month preceding. Dee? started with active capaeit) of pig iron furnacea over 108,000 tons a day, but it i? expected thai it will he impossible to keep all in blast, ?.. grant ha? be? the ?train of production. Steel making Iron i? higher and foreign inquiry for rteel for munition pul i - being renewed. Improvement in our busir.esa affaira has, bowever, failed of late t.. bl the market that oiit.ii.ir interest in lach of which it tanda ' ? and fro within narro?' limil . P that some unusual developmenl ia needed t?> stait stock? In motion. Fa? vorable domestic den fvrn some that have been unfavorable, they point out, have hern practici.liy ignored. Had ne?v? from the other aide, for aa our affair? are now being conducted reverse? for the All lea constitute bad BOWS, ha? done little more thai ' reduce the ?-cale of trading. So, ?s they figure it, some favorable report from ad road, bucI or some diplomati" triumi?'' , mlg expected to fnrn ah the < m now wanting; but such neu merely because the market ni-edi The local money market aa practi? cally unchanged, time acc< being perhapa lesa freelt <??' i iption of the Seaboa: ?1 K\ - Line honda offered and t he ? tigna of the supply "f fui . rnl.io " ? :??? after op. i nade lower ntrain to 'i ... gh prie- of 71V4 in the pound for leraand. Some reani ? the year payment I ?r- be in the foreij-n mi I A\ n \(.r OF I III IIUIll M.'?. 1 I-T i.i i n i i i a BAH ??. Perembrr M. a ???.Irril.i,'? d??? IIB.SM llerrmhrr I, I I'l.V'O Bag aar.la ago. I 111.Mill One month ?4*0 .I IS. 151 Oakf ?0, 1914.104 1.'* High tas Noa.inhrr. I'M '.Ci I ,.v?- f..r November . 1174a? llish fur (?rl.il.-r .I'D.?I* I ..a? for 4>,l..!.rr .ISMSS High f..r September. II:.'Hfl I.OV? for >r|.linil.rr.lOUMB Itigcli f. r \ur.i?i .Wfa.i:??, I ma |_T lliflial .in:,.9113 inch tat .lui.? .M?UM I ..II for .lula .M1J?IS High fot .lime . .IIIM.'I* \mnt tor .lune . IBS Ml n is 1, f,.r Hay.111 SSI i^?w for May .is4_as High for April.I1S.1SS I o?* for April . 10:.:67 High for Marrh . . los 1.1? 1 ??, for Mar. h . 1?' BBS High f?r February. MS.7M low for February.101.Ill High for January .10?.f)'? low for Januar.? .Ml Ml High um? far. MM km m low. Hm? Mf. MM Ml Ml Hlfh. full >.??r, 1914 . MS.M1 low. full ????'. MM A? Ml M.I. <>l ' '" ?IB! "1B-S I 1ST Ml IIIIMI IMH?IK1M?. Deremher ?. a n.l.r.1*? '? ?S-M Deren.t.er 1, ??lie ttaSm) nt" 4),,,. ?...nth Bio . 22? ?ajtj an. leu . ? j ?"'?" High for Noaeni'.er . ?7.40? I ?,t for N?)?fml.fr. ??.Til High for October . *????? tMW tor Hrtohfr . M-fM lllg). for ??r'.lr-nber . B'?.?? lo?? for t-t-saaaas .as..wo High for Align?!. I ?w for Ai.su?! . High for Jill? . ?.(100 ,?w for fOmi .'??. *" -' High for J.i.if . I oa* for Jiiuf . Hi?)? Ne Mae . j ,,w for M?< . High for A-.ril . UtSM for Ai.rl! . H Igt. for Marrh . la??? for Mari h . 70.0M High MB I f hr.iarf. laU-t Imw for ? phruarf. rnfJstM High for .lanuarjr .,. 7.V9IS Ix>?? for Januar? .70.77B High, thu? far. 1*16 . S9.700 low. Ihn. far. MM AB 341 High, full ?far. I?! . ?I??4 latWi full fOSO, 1-1? S7.4-I7 HVM.i.,9 1 97 10? 97. Or*'? I?? .? nil as?Mi 74 47? ??. na N 144 t.*. |M U 8. Treasury Finanrsi. 1 : UM , - . I I ? I ? Lv. >??' - ?4 ?? -. ? ' ' " . . a . - (.ucUt <?<ji ua._?/U.._i. NEW YORK STOCK EXCHANGE WUNTODAY, DK< KMI'.ER I, 1818. Toiel ?ale- ,.f sleets iTldSlslsr HS?70t, a_aln?-l 1Ujm ? tienda-, an.l if3.? ?' I S v??-t-k UK". >tork EscfcSSSJS <l<???ed ? >?*ar aun. I mm Januar? 1 t.. date. lKJ.hl2.?;00, aKair.M 141,18^111 a >ear ago. . ( o. . . ? 4 '? :tal .. .: . \i Can pi . ? .t a Fo. <o... '. \ . ?I - i leather. . Hid? ? rarities .. I ? . i .?nK?-. ?. Final . 10 JI 24 -- . *'? . - - 200 i ;: u .*.!: . V Am A i ?:, A,... An:. Am. ? ?. ' i *. >? . ottve pr. . Mi pr. a . ? pr A.. irj ? ? ?. i.? |02 400 || . ? i ?.i. ? 1,700 P71-. ll ? | Tel. t 100 l ? ? isw. . elf'?. 4(in ??.:;:. Woolttn pr etfl . . , 200 la. 10 100 60 60 1,800 106 , 107 :. 1014 101* 200 ll". li'"' ?.Hoo il?; U7? sou 112 112 2300 '.'4 i'4' 600 77', 771 4,!?i)ii 24 :: 1.320 168 ? 476 inn 160 160 ? ., |?0* lim 98 1,200 183 2,600 604 1 500 ll'?'-? 1104 ll"1? R ?1, to. . I I . . on ur. .? an) Coast Line.... Lo?.omtti\e... . .:....!.?in Locomotive pr it.-.r. ?<: I ?h .0. Bel! I Ohio pr. Hot ?piir.s Mining. ? '. Bethlehem Steel pr. ?; Brooklyn Rapid i r. 7 Brown Shoi Co pr. Brunswick . .i Bums Bro. 30 Butte ? fop .'Hill. ? Cal. Pel i oleum pr. l" ? a?ada Pai i tic. 4 Cent, Lea the i. 7 i "?-ut. Leather pr. I he . a Ohio. i in. G rea I ?Vest. 4 Chi. Greal West pr... i r., II. & St. I'. I ., M ? 8t P. pr. Chi., K. I. ?v r. . St. 1'.. II. ? i?. pr. . ?-'i Chino ( on. < opper.... Chile Copper. 4 ? 'luett 1'eiibody. ? ..it'tt Peabttidy pr. ? [Comp.-Tab.-Ree. 7 Consol, (ia?-. Coat. Cnn. i nrr. Products. ."? I lorn Products pr. t 'iiii-ili',.' Steel. ? rudblc Steel pt. In Cuba.-Am. Sugar. 9 Del, *?? Hudaen. Dei i R G. pr. 7 Del ? "ii. Distill i ?-? Securities... 9.S00 ?. '?. 20 Dom? Minet. 4. 200 -"'* Erie . ? in pr.? ?. I.? .!. ( liemira! Co. 1" - I : . etric Co. 800 1764 Gen Moten. 1.40) 116 pi. 2,400 12 : Goodrich, B. I. 4.!. i : 7 Goodrich, H. I-., pr.. . IO0 1124 7 tit Northern pr. '?>'?? ', <.*. Vor, Ore. subs. . en. ? spl ex die. . . Greene Copper. 10 ! ? il. 00 1"? : lint Agricul. l"" in-. Agricul. pr. Inspirai ion ' upper. li ter.-Cen. '-'-" ?i Inter.-Con. pr. 500 ? * v" .. !?'. Harv. of N. J. 1,100 HI 112 Int Harv. ? orp. ?200 l I 81 Intei. Paper pr. :"" '?' im.. Nickel. 1,900 183 198 i l South. MO Kan City South, pr., 100 Lack. Steel. 6, i . ? Vs ' . soo ??*?'?" Liggett & Myers. ?"?Il" 255 ?? fV Myers pr.... 300 1194 120 Louis. <v Naih. 100 ' ?? . I " Maxwell Motur . 6,800 Msxwell Meter i il pi,, MOO Msxwsll Motor 2d pi. D? pa l ? 200 May Depi rt Stores pr. lOO Pel roleuni . . 6,900 P? troleura pr. M 0 ? Onper. 600 Mer. Marino pr ctfo.... 11.400 182 2,500 634 634 300 !- ?'. 154 600 394 I .?m ?:?, '.'l . 300 13 : 1324 1400 19 4 19 ? 100 186 185 4.'.too 544 0.".'. 3,900 25 25 734 4,40) 51 200 W 1,700 1 134 143' ? 100 89 . 300 l?: |00 ?M1 3.600 200 111*4 111*4 100 165 l 100 It ' 152 200 29 29 50 : ; 64 137 . .-?i1.? ? 10 119" r...', 1004 I0P 130*? B0 .': St I"1? ? \l 'i.i. ?*?? St Leuis pr , i.. k? i ?*' i exes.... Misi ouri Pacific . ? ?i?, Paeiflc ctfa... 2 Mont Power . 7 Mont. Power p?. Nat. Cloak & Suit. Net Enamel. & stpi*. ? 7 Nal Bnassi I. ?v. Stpg pr 1) National Load . 30 Nevada < on. Copper.. ? '.. m Ymk Air Drake... ,'i New York l'entrai. \. V , N. II. & M. N, !.. Ont & Wust. 6 Norf. i. Western. ."? N'ortli American . ,' Northern PaeWc . ? ?ntario Silver . Pacific Mail . I'ac.lic Tel. & Tel. ?' Pennsylvania Railroad.. Peoi a A Eastern. Pitta. Cool . E Pitts. Coal pr. Prsssed Steel Car. 7 1': - Car pr. . Quicksilver. Quicksilver pr . Railway Steel Spring. 74 138 4300 1034 1"4 1,800 7.". 2,200 120 BOO 116*14 ? - 4 1', 134 344 II ::) 1204 119 . 120 1,600 6,600 :,.ii ? 2,400 To.) 1084 I031 1,200 654 100 108 105 105 1.4O0 4 : . 34 :. S bit 14 ?... m. I opi er. 1,600 .! ; Read ng 1st pr. Rep. Iron 4- Steel. 7 Rep. Iro.-i & Stie: pr . Rock Island pr. Rui ly . lit ft- San Kran. St I ou: t? Sweaters pi \,i Line pr .. ik . ??' SU il .'. I 7 Slott-Sheff. S. ? 1. pr. 34)00 ?14 ? :. 4J-. 424 42 . r,;.7? 53 1104 1104 l!" - 2 100 IO0 to-! 1444? 98) .them Pacific ? 7,0 il i? So, Porto Rico Sugar. *? s... Pprto ' ?H?rn It. K. So. i: ::. pi . ng. i. Milling pr. ebaker . ?ndebaker pr. ? ? Copper. li?' 149-5, ! i ? ? 149 ?, 100 ? . 108' , . . . . 62 '. ? ?: , B24 U i 1584 1701 - II b| 113 1124 . 584 f)7'-. iny. 2,500 2124 21 r. rd A e. R. It...... ' . st. L Weal. 100 7 ? . i i nd? rwoo.l Typewrit , 100 89 ' n. Beg <??? Paper. ' . 7' rn n?f .'- Paper pr h Union Vn< ..??. ' - : -' I ' Pec pr. t United '? -?*r of Am.... 700 ? , 824 p. 14 2'.? - - - 94 - 'i ?? . 1 . I ? ?< 1444 1494 14 i? 1484 i ',.??? ; Ry, Investment. 4'" It, it -ment pr. 100 40 ? I. P. ft F. U. S. Kxpre."--. U. 8 In.l. Alcohol. . .. 2.200 120 i;, i ? '. Imp 14 Rubber ... 8,400 Rubber 1st pr ... 100 1084 1084 I . S, Steel. TOjSOO M4 674 Steel pr. M0 I'tah Copper . 12.800 Va.-' ar. Chemical . . . 100 Vu. Um,. Cuh! 1- < >>ke Wabeah ? hi n .??ued. - Wnl.aih |>r A. Wabesh pr H. Wells Pares Espeses V? eitern Maryland ... trn In'en Tel... Weetiaghouse ilfi: oust M f(,' i It pr . or ' Wheel, ft Lake 1 ? and 2 40 - 1164 1184 B0\ Willjs-Overland pr . 20Q, 1184 114 ; 113'. 1 I I,.?4 )'??. 247 4 113 CURB MARKET TRANSACTIONS Industrials Active in Spots and Irregular Oils Dull and Depressed. l'rice changes brought about in yes? terday'.? Ml ' >fr" 1!- tome in? stances of Th? indu'triai list was ?c- ' - sad : nal qao ? ? - were Inagalar. Midvah wa? actively d<-a!t la, an i after I, 1 ? net advance of ,?>'??;.. at-cks. I ? M uiar sad dall, thi ever a poini n-arl;. ? i til ? OB .'?.'.? d?clarai ??? Inter r . . ? oil | except A 1 'tcan tinned ??? ? > lost ?'. S'.u dard of ' ? ' and 1 I'ipe ? auch I ? . ? rrcgu? . ? making a advance. INDU! I Y \l> - ? ? a - . . ? - 14 . SI 1" ? ... ? , I ? 5 b , ? ? . i ?? .:-. .?.. ? .i ', 3'? Il ' . ? 1 .- .?. g I ->'. , . ? ? 1 SMS -"?'? ..... A 4 . .. I ' ?Hop .a ' ? ' ?h.i Motorg ? tt t ? - i ? ? . '??? Ord . lUg i" n n i ? i i ;S<. ? Mi I ?? ? '? 'Y 'Y MO Mi ? ?? ",; i.i Munit, in, ' . ? M .. ..? ?- i ?ti . ? . i ? M i i ,a . ? . ? . - i I. I...? 1 IS". M . ' .-'.-. i I . 4<?. ?I ' ? ? ' . ' ? ' ? ? S I, X 1! ? pa. ?.!o pr'f. .... i.V. ?\>m r.: i , I e... ? - ... .. irglnl. l: i ' i I I i >l INDARD OIL Bl BSIDIARIES. ?? .- km oi - " i. .: ? ?? ? Y j ? i . ? ? ['?gin Oil. ? - ' S .1 * ?. I. _ MINIM.. tat Butta A 2 ? . . . i ?. | i > '? , ? ' i ?', . . .... ... I .'.,n IA '?', IfS . .. ?. < ' . ? ? ' ?1 ' j ?-? N ... ? ? ...is (. ? Maje?i Ml ? ?.'??? -, i.. i ? - ? I ' * ' ? I" ?r ?*, ? ' - --.-. - M ? ... - -,.??, K ?? ? " - ? ", O : < 'I . 14 "I ? ? l 1 4.'/1 Tl ? . - . ? I ?, . BONDS. . ? ?. m ?. . . ,. INACTIVE YESTERDAY 'Mn r-TBla?S Ah'k - i N' T Trana !!-.\ Tob i ? '. ? ' . ' ' Ei Phon. 11 , , KHT ?j ? ' Mivi?,-.; . ? . ?! ..a ; ? - - , ' 14?.. I| ?? BONDS ??"?I??- _ * ' - ' ' ? ? M ' r ? - ? n ? ?? DIV?DENOS "o? LAUD. it T?r-n | ! , ,' - ?? ? : ' ??- . I in. IS n, ? ? '?' , f ?<? i?.''? Jan I Min M 11. - ? I? : '? ?. i I- ? ? J?n ' ?? ? : . . . '?? l?n. 1 ?? So pr?t ? ? , i- ? N v i .if? i a t ? . i.. ? ? ? Jea '? ; ' i . !' ? ?.. Jan. 1 i.- ' '. ?es a Tf ?.' . -.'. I ? S frr ? ? It???? I tOSft |ni:h (ITY BONDS. Msi i in i > ? . ?? . 11 .v? . ? ? ?i . 4 I ?i : .. < ?iV J ........... 1S??, : ? . ? e: ?a . ' litt', ?i . ' '". ? , ?l ,. V . . ? ? ? ?i aa ? , ? ? ' : i i i . ?li.tr i.a.g.ali.r r.glai.rtil .t n-upi.j Jltrg?al?rrU . TO THE HOLDERS OF THE FOLLOWING SECURITIES OF THE MISSOURI PACIFIC RAILWAY COMPANY: Convertible Five Per Cent. First end Refunding Bond?, Four Per Cent. Gold Loan Bond?, Capital Stock, and Securitie? of the Other U?ue? dealt with in the Plan of Readjustment rder lo preserve the Missouri Pacific System from the evil?, and losses Incident to t c tip the Piifl of ResdluStnent should be proaptly consummated. The property re the extensiva physics! rehabilitation or the elimination of burdensome entingla ICtJ which are thi usual causes of Ions*; railroad receiverships. What il required Is (.0 the cash (approximately su.ooo.ooo) for immediate needs i (h) such reduction la fixed charges us will bring them within a proper nirgia of the demonstrated earning c.ipacitv e| the id (c) tie creation of a new iccurity to deal with the obligations maturii?? during the >.t ii\e yeari (approximately $79,000,000) In so far as tliev do not fall within the ca>!i pr? . ? provide IOI tuture corporate requirements. Manifestly tnese results an be accomplished only bv an earlv reorganization, aid !.. | - ? the prompt COH Of the holders of the VSrioui classes of securities affected h?. the r< menl ? The] are accordingly urged for the protection of the estl ind ol the propert) to the management of a solvent rompan) ro deposit THEIR SECURITIES under the Plan ol Readjustment as promptly a- possible, and In in? event ON or BEFORE DECEMBER 15TH. WHEN THE TIME FOR DEPOSIT UNDER THE PLAN EXPRES, AND AFTER WHICH IT IS INTENDED TO PROCEED ACTIVELY TO CARRY THE PLAN INTO EFFECT. 0 doubt that radical changes In the financial structure of the ?Company is Ian of Readjustment are essential to secure the needed resulti Although the . nticipated improvement in business should result in better earnings th.i i I list ? ic_ year, which tailed to meet the interest charges bv about #1,250,000, I between ei ted charge; which is absolutely essential for the restorstion of the C? redil cannot be a - "'.it the reduction in interest paj ments sought to be accomplished b) tl ol the lie Five Per i ent Bonds and the lour Per Cent. Gold Loan Bondi into preferred stock (or inc.ime bonds). Under the Plan the stockholders provide the $41,000,000 Otcssl for Immediate requirements without Imposing anv burden upon the holders of these bonds; ?or while the stockholders receive a four per cent, bond equal in face amount (b'ut not in market value) to the cash which they furnish, the position (>f the holders of the Convertible live Per Cent Ronds Il I the Four Per 'ent. Gold Loan Bonds in relation to earnings is not disturbed in anv material de? cree- because upon the consummation of the Plan the charges ahead of them upon the >>steni taken as .i whole are not augmented '-?hile tue net earning cap.icitv of the property should be tantiall) increased The I holders Of the Mi??ouri Pacific Four Per Cent. Gold Lo?n Bond? Il called il default lias been made in the pa-, mem of the interest on thi ind Refunding Mortgage Nis Per ?Cent Bonds and that proceedings have been Insti? tuted '.. foreclose the mortgage bj which those bonds are secured, l.ieir attention is also called ;?? the impon.iic ol preserving the traffic relations between the Iron Mountain ind Pacific ompanies. . opies ?>i the Plan of Readjustment and of an analytical statement relating thereto Bay b? obtained from the Readjustment .Managers, anv of the Depositaries or Sub?->eposltariei or thi Secretary ol an) ol the Committees. I'he Certificates of Deposit for Convertible Five Per Cent. First ind Refunding Bondi, for Four Per Cent. Gold Loan Bonds, for Trust Five Per Cent. Bonds due 1917, tor first Colitteril Mortgage Five Per Cent, Bondl due I' 20, and for Stock, have been liated upon the New York StouU Exchan_e. About An', o| the Convertible Five Per Cent Bonds and 40% of the Four Per Tent. Gold i oan Bondl have airead? been deposited under the Plan. DEPOSITS OF SECURITIES UNDER SAID PLAN WILL NOT BE RECEIVED AFTER DE CEMBER 15. 191G, EXCEPT UPON TERMS APPROVED BY THE READJUSTMENT MANAGERS. New York, November 24, 191$. ALEXANDER J. HEMPH1LL, Chsirm.n. live Per Cent, lir.st a ?i Refund? i Mortgage Bondholders I Guaranty Trugt Com? pany of New York, Depogitary. FRANK N. B. CLOSE. Chairman. T/iiaJW i r\vo o nr\ ' "r;- Voir lour ' el '?'e"ir ,J"''' ' ' -M? l-?UilN, LU?-B & _-?., ommittee, Banker? Tru.t Company of New Readjustment .Manager?.. York. Depo?itary. JAMES N. WALLACE, Chairman, Stockholders' Committee, Central Trugt Com? pany of New York, Depogitary. Guaranty Trugt Company of New York, Drpogi t?rv for all othrr igsurg. INACTIVE YESTERDAY I he ff.'Y;..vY g ? 'he .-losint? ! ,i and ' -'? ? i itaeka -?hich .?t dealt in ob the Stock Exchange tVedneaday: : ? ? ?- ? a n - . ; ? ? i . ? ' ' ? I ? Ul [g . -, ? V a ' Ian ?hlrt i I ? . ? . '' i'entrg M I'ft? 4M .- ? . ?I I? A I . II ft Ka. ? I . . r . il 14 |Nat Blgcil t-l , .. .? il.. ? M ? . ?. a . ? . , . I'l i . uu i ? ? ? a ? -, ? ? ? ? ril. Tr ft I ? r?: l'..irti i'oa.i. u . ' ?" . i ItiUa ??? ?... ? I ....-? I ? I - I I- I , I- tl i U '1 1 ? i . ? ' - lltg St n Il f N J.I .1-, in?, Pullmg i' ? ? ' im g 2d pr 4? ?344 i R I. I I s . ' .'. Y . i HS Mat ? . ? ?a I< UV? . m ft h ? i? a f I? MftiT ft ri .u'., is i. i/i i . i*j - I .a'.? , - ' 1.1 u? ! : , a...I- ' ??? ? I I Ig \l' ? I Mar N" .1 pr I Dfl 0 ! i ? i a r I ; k V i i I' ? I .1 ? i*K a a n_ , 4?. ' : 1 - Pi '. s I .( , .a, I \ , I.. .1. I' I . kri-g? . ' - I M or .....II? 1 ?... I 11. tl? I I 'j 1X4 tpg 19 i? gnil.. ! ' ? ? RAILROAD la'l IPMK.NT BUNDS. a I - t?Sg a - t , 4 ? ? 4 . 4 4 ?.W 4.1 II ? . 4 . ? . I Chit?, i 475 451 1 . I ? ? 4 " ? 4 . 14 i . 1 ? . 4 l.?0 4.4 I ? . I ??, 4 4.. . < ? . IT? 4.4 ? . i 4.? 4 ??? 1.4 PUBLIC UTILITY SK( TKITIES. I'll .V?'. - ? I ?!?? I ??? ' I .. ? g ? \ 1 ! 1 1 a a o 1. a p. ; 1 * 1. :i : n 1 ? 44 . ? . ., si .-? ? , f. I Uli .1 : ? H . . . ? ? . . ? ? 041 ' ? I' Il .S I. . . 'i , I. 1. a fta ? ... f ?1 , . , . r H ? ft R> ? 44 4 ? .1 ? . ' 1 a. ! 1 ' | ?*? ?iu Bstsa Ut IGNORE AM. 1070. CHARGES llirei-liir? Won't KecuRni/e Demande On < nmpan?. Directora af the American Lac i .i.v ;if a i-.. voted ta ignora the dr. nanda lervad on the company by Lue) G. AJesander, Icholdar. The?? demanda arc sim Y.r i chata?.?ter to thoaa aerved upon ' the compan - '?.?er by Isaac M. ('ale, of Baltimi-r?. Among Other they called for the resignation of Preaident Marahall and Vice I ? HacNaughtoo and charged of tha eompany'a funds running up into ? ?. Lucy <? Ale ?.'ri.i.'r, II w_? said, la a relative of a in. mher of the rra of Loncka >?.? Aleisnder, eou.r ael f'u Mr. ('ate. 8. L .nan of the American Locomotivo board of .1 re ? '? meeting; the sum inga ef the eompaay for non I i of lY-rember 31 would be about 13,000,000 aheud of 1914. Ha .'??? "The ?.rd.-r? for lOCOmOtlvei are con. in? in in food thape an.l November ?rat mm extraordinarily gaed month" for thi? busineaa. Our planta are operat? ing m a good rate- and the outlook is bright " -a ON THE CONSOLIDATED. Buaineaa in Unitod Stetes Steel on tl a I ..nsolidated Exchange amounted t?. 30,?!i00 -hare?. It touched a high of the late afternoon. Closing I prices generally showed irregular net' change?. Republic Iron & Steal did not ?ret below SS%. Btudobaker rose toi 170, where it closed. Open. High. Ijoa?. Lagt S ?kg lloM .... IS I ?., , . . , . , 104 i ? ? ? . a l:'? '? i ? ? ??? " . B . T1S ' ??-... ? ? ' . ?IS , a :.',.- I . ? ? I U ' In Hi l- ft I. ,11 11 l?*4j 10*? ' ? . . - ', ?. i u? 1.1 a Ti -? ? a ? ? ? . - . - ' .a . . , 111-, II' ??? Ba l ft i M ? ?'. . M-aj S4', H. i; r :?? ? i . . . California I . '? ITU -*S 4 In | ' ' II it? Centn , .??'-, , ?j'g M ft Bt P ? > ? a I j . . M It .1 A IV- I -, : -, ? ?. ? > . - ?v l i . -, , ? ? ..... -.?.<? 1411g ? ? . " '4'? IB Dm a B O tal ?, ? I a ? - |..... ? Mil?I , , , -.?, 4,4,4,4, ?...i-lrlrli Co "'??"? a ' ? ... - - < . ?. ?? . I , ? . . ? ' ?' . 4? , 10 Kan ('Ity 8 ?-' :. SI..1 . ?."-, ?1\ - I ? lg \ a - ?. , ?, 140 M lotofg ' i " . 14 Ml ll . I ? I . ??'. -a ?? . It ??-.- . ? I .4 ?g 34 34'? 1" Ma i-ariBc "j ?', '', Enam a 1 . ? . ? ?? 14 lta-2 t"4'? ? -i ?. li ? li ?? :? -, ? , A '.? ? l.'.a US 4" l'a. ID- M?ll a ? I . r ? * i ?-? v? . ? , . ? , ... l > in 4 T. .-. r - ? ? ... I'a-ia -, ? a uf a i i - i a . 1... lio I -? i: . ?- . i . , ?\n '?i, i - -?? . . . :?!?' . . ? . ...... I' || i 4' ?? . ? ?. ? ? ? ? 4 ' M ??.??.'?.??. I ft ?l'a ? . . ? ? . . . M ?? MIMNi.. a a -. I , I , I i - Ha . | . . !.. ? . ? I ?', | ??' , . . . .. : . ?. ... i ,- . . i . ... ... I ? , ' M 1 ?M I ? ? . I I I ! It. ? ... I ? ' II I ? !.. ||? . I ! ?J a. ?i a. Hi: tatst tute. . I .0 AMERICAN ISSUES DULL IN LONDON Not Moved by the President* Message New War I oan and Consols I ?nu. I enden, I lion'? ? ?jrhici. .rerrular ch?n*j??i ? ?Her num the absorp ? .'.t. In othei ilirri! . n??? wt*. dull in the ab??i-. ?. iragirt: from th-* i ??rn? I 'ir.ier.ed OB 'he belief that do ni* loan would b? issued for iom? tie?* Japanese .'.t-'i Chilian bonds win strong f?'i.< ires oi ? ice tat dim tors' reports. Consols closed 4 hn*if al MH, the new ?.?.ar loan 4 hi|t?'' - I he Hank of England boui-ht 11. bar geld, tl pped f?>,000 li relent to America, sad earmark*?; ?100,000 for Ecypt The lupply of money diminished Discount rat*? were dull owir.j; to the isrge buii nesa being dot.? la 'retsury bille American exchange was iteady at 4.72. Money loaned at 4 to 44 P?r tent. Diaconn! rate?, fei .?'nort and three month bills were h'n per cent. Cold premium at Lisbon was <0. Parit, Dec. 3. Tradir.tr wat qsl? on the Rotin? to-dav Thre? per cent rentes closed unchanged *'. 64 fr*0'* M centimes. Exchange oa London, Ti francs 764 centime?. LONDON CLOSING PRICES I^nrlon .V. V. oir.??. it ilte? Dee. 1. >nt. D*a ? ? -non?r.... M1*) rrl'I.h 4V?? . ITS A- i laoe .IM IfSj? M l'ait A Ohio. ?7| N ? **?* "an J'a<-lf)o. 1???? * ? * ?**hio.... ?<??? 'it \v??t .... 1-. 1' M n in'?* = ft "<JH -1 m - M A .?t P . ?H MM ['?river . 15-i 1?*-? Erie . MM . . Erl? l?t tr. ?'.?? IS M?% -J Illlnot? Central ?.lit? I v, MM -* Louie * Keeh. .. llSM IJSH TT Mo Kan * Tex.. I-? ? . ?M 44 tntral . .. i*?t isii .a?? "| Norfolk _ Weit ll-IM HJ\ ??*?'*?? -_ i .?> Weot. I-'1? MM I- ?*? Pennsylvania .... I '. > MM ~1 r . 11*4? I \ il -_ H II ?rn Hv. ? . i? -S ? rn I'srifi?.. i .-'?j 100*4 ? ? 4 ?_ . i'?.-ific.h'*? in ".-??, _j ? ?, MM *?? SHORT TFRM NOTES. ? aad real si MI ntt *??. T\eA Am T S T sub i*. Apr. I?)* . -S I ' * }!| R ii ? * i BaltS ? ? , > {*? ? - ? ? !. Uklyn it_p IY ia. July. Itll ?? _ I ri S ? ?i lo I?. J - ? '?. M** ;V ? i }! i??? i ?v Hud ? ? - ? s ? ?? ii H ' ? Ta Krl? )t R J a. ? Qen'1 h .' ? ? ??> "> ?? s . Int Harvc? '? '? ?i, * ,2_ ?5 ? *., l'enn rol . "" il* ! i.l',. " . . ? I 4 Foreign (.overnmenl l"UM. Ara?,.' - ,' * I ?5 ' ??* ? ?a e Mi ? ?. I? ? ? DA1L1 IMPOHI VM? FAI'OKTS. Dell] ?? i si ? and experts of tf^ eral sterchendisc ?it th.* Pert si mm York vers: er. I t ? - - ' ? [aw T I I ' ?o 40 Uouuaj. .Nu?. ..'. 4.? 14.14*.?-* ' ?i??w??