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100 Yc ft r s of Commercial Banking THE A.ND mT^-,j . -r u SI.*!??*. > I Hj si Ne*. York Capital &-Sur-lus.$5.000.000 Resources. - 70.000.0fl0 Chatter VemberYY. CleatineHeure Member Federal RtSOTOt Bank iniled States Depositor \ . Broadway *. .<r. Joins *St ? Careen sa u h ami Warren Mi. Bovverv ?tu! Grand *-*t. 34.-? Crand S Fifth Avanue ?ar*.?" 14th St. Ninth Avenue and 1-tthSt. Fifth Airmit and 20th St. 2 Weal 33rd Street 57th Street and Third Ave. 86th Street at Seaond Ave. Broadway and 104th Street Lenox Avenue and 116th St. 125th St. and Lex. Ave. ?ff. - - ' ?!.K.Riie,Jr.&Co.fiu> ?Sell Aetna Explosives American Chicle Babcock & Wilcox Continental Insurance E. W. Bliss Empire Steel & Iron Foundation Co. ot America Gray Nat'l Telautograph Germania Fire Insurance Hale & Kilburn Ingersoll-aRand International Salt Jas. Butler New Jersey Zinc New York Shipbuilding National Licorir, National Surety Remington Typewriter Singer Maiofactariai Scov?ll Manufacturing J.K.Rice,Jr.&Co. Habit - - ? Standard Savings Service i?nd ? * \.k r.,r bawiklH 1 BigeloM & Company Yale & Towne Standard Gas LI. of N. V. FREDERIC H. HATCH & CO. Id?.?. Bis m1 Broads **??.? reel V *-*"aV'"aa"*"""a"*a'""^^ Will Huy \ Magnolia Petroleum 1st 6s 1937 II. I . \kCONNI I L&GO. , V.u. -I r? ' ? ? ". I h? N. va V rll STANDARD O vl i;-l'.?l Mill - ? -I O? I N HI ?'? | K X? I l.'N ? <?' " - !?'< 'a L CARL H.PFOh.-.i..Iir*/lER&CO. Il N ? ? He? Pfd h - i ? Williams, Troth & Coleman Sa Wall h i'? ? n ..?..,? r. s i Wm.A.Read&Co. Investment Bonds Naisnu & OHiir Streets. New York ... ? i ? : 1 -, AI! WALL STREE1 UV*. IINES EULLE?.NS & l.CKERS Inviestors read THE WALL STREET JOURNAL MARKET NEWS AND COMMENT Stocks Oive Way Make l itile Recovery?War Group Weakest. FINAL PRICES AT OR NEAR LOWEST Judge Oary's Warning Serves as Bear Argument Sterling ip 2 Cents in Pound. V. arnlng by the hi steel Inflation PI'?),!'... :.,! hi? prosperity by tlic ? panyV , ? . ' , -. ? orbed em? ' ? ? id ? | ? ? v . ' ? ? ? n ?.?rit .1 the ? ? ?' low ,1hv. ? I ' - - - me of 1 ? ? ehe m a* ? ? ? - . I - ? ? '. , t stocl ' ? ? ? ? ? ' '? . ? ? ' ' '? . ? tern ti-h | ? ? ? ? i INACTIVE YESTERDAY. The R oiii bi . ? - - - ? ? a ? ? - ' ?i i I it il v SEI i nun - r ? ? ? ? ? ? ? r THE NEW YORK STOCK EXCHANGE 1 III RBDAY, .1 \M AKY S, HI?. T?nnl Balee -f ?tack? rfcareter, 199JS99, ???.?in?.! s7!?.;imi .. week age nn.l i.....'oi? h *?-??r ?ge. I ????? Jj?tni?r> l ??? tel .'?s; (DU h * ?-.ir ni(ii. Di? 1H', ka Juneau . Alaska Gold M nei mei i \. ? ? hemlral Am. Bi ? \ , ,'. ? ',?? Am i h v foundr, \ far ? 1 drj pr I Prod uc I \ , Pi ? ? ,,,. I ,800 :i,in I.IIM1 ntation liange || rh i " ? i 104 nuil I" - ? '. \ \ ? I ? ptton 0 l pi a ! . ither I I . ? er pi ... I ? ,?! . ? ?! pr. . , :. Smell ing . ? . 1 : . | h! . _J^^^H_ IOC too i... 4 1144 I" ? I . II ' . . 1174 I tin 116 244 !H - ? ion I .MM 1", II 41 II ^?l ' I . ?,? iconda . . \ i ? ? ?? .'. iperior ? op. ? ? .,. Pel Pel rol im pi Li ,\ 01 o ' ? ' Chi. (i ? ? ? . . icts. ? SI ? a W . : I ? ? . ' 2,6(i?l 1111? 11" 112' ? II I 3,100 1274 . 1.100 2H.1IX 1.200 107s? 1.101 100 li::1, 11 ' ? i II l * 71 11 : 111' : . , inn |0?j 111.1.. ion ?100 IH1 - ? :ti? 181 ' . 20 m'. ?.??* II ? 112 ? 11 l 107 ? 107 r?;?' i 1134 1104 ? .h 89 ? 804 11 ? 1174 151 IIS ? II ?; ?'. ; in i? ?4 li i I27S - ? - '?- . 1074 !".' '?. 1134 ? ? Witesaiaj. IM,'.'oo .', .;,?.;j.'io?!. igaJael ' ? | Bid A?k '. ?'. '" ' HO 4 1 '-. 89 14 " ', 804 III 1124 ' I .'.' Ill 1174 1 156 i II ? 14 ii;. US l 1 N 100 , 104 114 2 4 ', 1 4'? II .... I 32 U 1 ?-, 1104 1104 . 1124 1124 4 W " rVM 584 ?, 1134 1114 1274 1274 I 206 206 'a 106 . 1".'. . ?,:? S94 . - ? I ,.?. ?>'.? ?.. in. 1074 '.''.?'- W4 i , 1124 113 i i in . li ' , : . - ?44 '. . - 874 - - ' - :m ? . ? 4 III) ' 100 ' ' ' ? ? 5.100 ; - '.? o ? L'HII 1.100 10? i :? ' I ? _ - ? ,; ?. ??' ' ? _ . I ' . . .... ? ,? On obi... 1 '.. ' i : . 1.100 1 200 ;. 400 ' ' 17". II I '??a ' - : 140 11 1 - - I OH ? ' !4' 115 : 14 -?? i 106 -, 74'. 744 9 . 3 ' : i 14 <? ',, 64 i '?., 24 I-' :'. '. IS 4 - . : 4 ; 4 . 1 'a '?" a ??" i i ,1 194 I!?'? 15] * ? 106 108 . i - ' II ! 146 . I 4 109 - ? ' ? i . 1*1. rate ?' I 100 Int llar I ei p Int. r. Papai Inter Papei pi ??*> dlv Int. Nickel Km i tj South Kan. City South pi I.Hrk Steel Erie I U Lehis*h V'allej . Lija" " I .1 .. ? Lorillard, P i . r lard, P . pi Loul ?' i ? Markay Co? Manhattan M Mer. Mai In? Mei Marine pi Mai Motoi Mai Motor i il i" Mas. Motoi i i May Depl Stor? May Depl tor? pi Mexican Petrol? , M arm t "on Cop| ? i Min. .'? st l oui 4 I 81 L pr 7 M , :? I' I - SI M Mo. Kan I I pi l". ? ? ? ? I' : Ifonl Po ? ? i , r ? ... ; Mal Bi ? uii i" Mat ( tp...... ::n \'c ada Con. ' !opp? i 6 v | \ r Brake 5 IN. "l i --iitr.il . V II I II ni r fi U . ? ? i .'. I* ? ? Pa? ?' .... i. ' . Pa. ?- . ? Tel. i: It. ? ? ?... .v C. Phila. i ? I'M- n.i St? - i'u Ry Stei ,. ? - Read m . ?t i:< pr.I 4 Readi ig 2d pr.' ? . I i I kei . ? ? . ' 11 r. . ,. .... ? . . .' ' . . ? . ' pai . l'h i nj A City R. 1 ? I ! ? : ' ' . - C.? P. A I -. <;. i. 1 ?v Ind. Ali ohol. . i - i 7 1 \ .? ? :i : . I tVaba ' 11 ' ' i ? ' ? '?' ?old i . . 100 ? Mill I' 0 inn .'l ..n" too (Quotation Range llij-li l.'.v. Final ?' ir I . i ?'. i '. 11 ?*?*2 !81 . I 10'? i ?? II . : '???II*, ,11 ? : ' i ft il , 501N 31 1 I 78 II ? 18'i ?DO?,, 341 ?, ?'. 1 ', I I ' hm | . i 100 |nii 2,100 : ?.?un '.?i. 000 M 100 il i III.I II ?41 ?I'! I4V0 I, 100 I 'I' i...i : ; 700 :, ' ?304 lim 121 NO 103 - If 121 ? ? Iti 124 i '.'i , :?" ? ? ? ? ???'?. so ' '1 '.'?? . ? ? ! 'l 10 7? 124 no I :'?', ? III. 15 :'.:i'*. ! 't I?. 71 124 100 I ? ... inn BOO '?i\3 k2-'i 400 -', 70 ?.,000 l.'.:- 1ST? I I ? 1.-,..?..... |0?>l L' 100 K.r, in.i ,n in . \ ? ?? 100 n ' . ;.|||| BOO 2 '.mi 100 ?_nii - - 7.94M1 I?'' ? - 11,100 100 18.100 ?... I - II" - I ? ? . ? ? 1 ' ' III - | Oil ' *-i . : ? - In'.' . 1.1490 NT's -: ' 1.104 : - II : ? ? - - t7 130 ? I . ' .'.I . ?;i :???. ? - - 127-, . . I 'l ' 10? . II ' ? ? ' ' - n; til 117 . ? 117 ? ? 200 i ? Ill's i m - ! 10 I - - - ? IS "I I '. Ill ;. . r. ', 'a ? IH Bid. 78 M !' ; ': ?I 64 ' l *'? . ? "a - ?'. I 54 103 i i I -i ?' . ' Ash 1 ? ? ii'*, . 64ti ? * I l 41 I- . II ? ? ' 4 70 ? 104 116 : 124 If 1 '. m ; i ? ? . ? i.'. ?? ; 16 ; - i . - - Ii lOK ? I . Il . 4 11 - 27 y? ? ? . 16 147 ' ? . I0ls 110 ; I loa ? - 45 ? 11 - 112 :','. 61 :- - . i\ 224 :, 61 1 94 ? ? Il - - ' r* 67 ? . - : , i 16 'i 117?? - - ' ?? 16H I?, 12? il 119 111 111 226 6m - 64 24 - B6H 117 , 18 16 - I . 13 - r,7 - ? CU.RB MARKET TRANSACTIONS Course of Prices Downward Industrials Make Losses ?>i ( onsi lerable I ?tent. .? ? i ? i ? IMU -I KIALS ? ? ? - i ? ?? ? ? ? -1 wii?i:i) Oil SI BBIDI IKIES - ? ru : nil STO? - M!\|V,. ? ? - ' 1 ? . ? * ? I ? ? ? ' 1 ? . ? ? ? ? i. , ? - M ". ?lOMK. ? "a INACTIVE YESTERDAY i *.- ., 1 v. I'ORK ? II V BONDS. I * ? , 4 * 4 -? l , || . * - . I ? ? ? a ? - l?\ii i iMl'ni.i- \\|> EXPORTS. pom and i Port of Ne? ' ' t i ? ? ? m i. BRITISH FUNDS OFF IN LONDO? Other (iilt Edged Issues Stead ( i>|iper Shares Strong ?.mericans Dull. I.., Ian. ? ?? k ? edge ? d I -, , .1 4 ?,, ? a *, . - ecu rit ?os v Oi ere i ? i ? ! I ? \ prefei ? ' : ? ? I and i ? ? tots ? . - LUbo i <i\|i<?\ ? i OS1XG ri:n is. - a ' . ? . . ? '. ' ' a ? ? ?????? ? i - : rentrai.. ! ? ? ? ? . I - i ? . ri , i - ?? ' ? a , . . . . RAH ROAD | '>! M'\u\T BONDS a ? . .'Ill - ? || IV. ( ? I . I . 1 ? ? . , I I 4 ? , ?? , ? . I , ? 4 I ? there Ra . sa Uallwaj ?in.Kl ll'i.'M NOTES i ? " ? 4 |'nr*ei**n Government laauee, ? . ? ' . ? ? ? 15, I ir. . * 4 ? ? | > I ni" IDENDS DEI LARED. Ian : ? MONEY AND EXCHANGE [?I.*! i? %?? -.a ? . ?i.i I . Leal > * I .a ? ; ' , ? . . ? * ? i ? -, i ' :?..!. . , a - i IMIMI < . > . ? ? 4 I < i ? i . ? S. Tn-asurv Finances * ANNUAL RETORT OP THF; Mortgage-*Bond Compan} OF NEW YORK QEORQE A. Ill is-D, President .January I, Itl? In Ihr ISnor-l of lllrertorai I ,? ? ? ? en lor ti,-- ear 191 " ?? n [-? r*. i irger e irnii -: ? i ' for any pri . - ,.. .... ??'.,'. i l. ??. ? .... ,, ,i;, ..... , .... , s ? . . rhe value of I 117.409 511. Thi 1/ York Cil | ?? - ? ' I ? ? ? ? ? ? 23 ' The avf-r-t, ....... .. .... , . . . .. Yorl I; and il .... . | " a ' ' ? ? i . . . . I n teresl B : Nel Profil ';" I I : '??? i 10 ? :? "? ".. ait ir?* i?..?;-i i? ?:?i .... ssj 92? t.7.1 i -?? ??? s ',-?> -.?? i ; r....-- . - - - 91(13,381 Sl70,*?IU ? -, SI'.:?.-"K." SIT.? TOO ? ?;i.'?is M.1SI SSJ jot ?9407,302 '.?KI..-.IT an I ? - ii teVM 213 ---? -.i.;ijg SI 941,758 H^'i." ?I?? f""! 1.492 i .... ... .... ' ? ' I : ; to $2.53* 12.4 V ? ? Jaaaary i. iSxiT.si.?ti.m??? i"?ii?. ?;.?;???..7i"? ini.t. i.?in? ??.?n 1016. "MI27.70U ' ? .... . . ? loi 11 SSIE i ?> I'tiiT . | ' i'?n? .r,.s\ ? I'll.! . 7 2H2.U77 i9id . 7 ?.m.i'.i i khi ;. n I'ii? 7. i mis. ?I i r?i?r?. T i'iio. ?? ir?i i. *? ' I III 2. !? ' I ft 13. IM nil I. m I m*?. I??' **n?. ?eat. i i.-iil. l'a i *i?I .', ?*isl. ?I |?T l??*r p*r par real. I?fr .-?-n?. per ?*ni par , -n. ii#*r real. p*r rani p*r ffni per rem par o*iii. i?*r ee?i? p*r ?'?in n*r (????>? |)*r .nil. per (**ul. I ' ' < : ' I _ ' ' ' M ' ' ind Auditoi : and N i ' ? ? I . vio \'i. Bin S ? ? New! I : !.. tatement of A 1991 i ?? ?I nr< *?*?;*? .ST. I Hi.""3S-JM I. S, mid ?Hh?-r Hnnil*. S2.O4X.00 tmtar+at I4r?*?-1?al>l?- . . I l7,J*SS*wSI ? a*ts . 2srtS.4MMI.9l ' f !* ? * ? LIABILITIES < 'II. I I IS I . ??I riilu* . I i.dl4 l,l<*.1 l'r.,-li. M >irt kis i?<* - II,,i?,l . Heritage -< ertl9ee*tea lul*rr?l I'k.hI.Ii ?? ??. in?. i m ??IT.? .'?J7.7??"" . .-??." - . ' 9T.*?*. 1.1 ft I.?17 ? ( i ? ? ? . ? ? ? ... feet on the (?ompa |ard to foi I accrued interest. Ii|\ IDENDS. , ; s i i; ?i ?du ))it? < )?*ir ? N ? ? ? - i.l s i t; ?i *l?i i ? ?>;- ? i?*l|- \ s ? ) ,,,,,,n,,11 si,., k I i ,.| ? , rut,, III - * ' * i ? ' I Miii? -mi? R| BBI K ? i? - ? : ? - ? ? ? U S PROSPTEITY JUSTIFIED In thi t of the N??w ? ? ? - '?' ibmit s - . ' curaleai. I)|\ ?IIMi I III ?I Ml \ \ NI ? I l'\ II ? sl' UNION SQUARE SAVINGS BAM S I -, IHP.H ? si , * -. v ?? ) \ < i. .?. \i tiMi \ ? ??? I) N HIM*?' " KmriCM TeJp^hone & ?WH