Newspaper Page Text
IJJYJGNING LEDGEB-PHILADELPHIA, FKIDAY, DECEMBER 18, 1014.
t ? is RALLY FOLLOWED ANNOUNCEMENT OF RATE CASE DECISION Prices Reacted Slightly Later, But in Afternoon Another Upturn Occurred. New Haven and Central Led. NKW TOniC. Dec. 18,-During the morning session slock prices wore reac tionary, with the movement toward slightly lower levels, but when the de cision of the Interslato Commerce Com mission In the eastern freight rute ense was announced shortly after 11 o'clock the rrtarltet rallied. The activity wns con fined at first to tho trunk line shares di rectly affected by the decision, and short ly after enveloped almost tho cntlro list. Following tho Upward movement a light reaction from the high figures set In. This lasted until nbout 1 o'clock, when a buying movement sot In and tho market ngaln becamo ntrong, with prices up. New York Central nnd New HaVon lot! this upward swing. Central rose U4 points to St4. It was pointed out that tho new rates granted by the commission will probably help Central and Now Ha ven more than any other roads, as In creases nro allowed on many commodi ties which tho roads carry, and tho In crease to this road thus amounts to about 5 per cent, nil around. Now Ha ven wns up 26 nt 5SV4. compared with KM at the close last night Other Issues which were In this upward movement were New York, Ontario and Western, up 1 point at 22; Erie Up 1 point at 2); Baltimore and Ohio gained H "at 70J4- At tho closo the market again sagged off, but tho losses, In tho main, were not large. Tho lnrgest loss was made by General Motors, which fell 6 points to SO. Sears, Roebuck, on tho other hand, mado an advance of C points to 186. In tho upturn which followed Imme diately after tho announcement of the I decision. Heading led, going from 115, Its low prlco today, to 147 and then to 1(3 on 1 n, single transaction of E00 shnrcs. Other lines, Including Lehigh Vnllcy, Union Pa clllc, St. Paul, Pennsylvania and Brio cemmon npd preferred took part In tho advance. Wall street was poiplexed as to how to construe tho decision, but the general comment In speculative circles was that It Included nnd was followed by too much upology. Railroad Interests were disappointed tn lan extent, because tho huge water and rail transportation was excluded from tho rnto ndvances nnd there wus nlso disappointment over tho failure to grant advances on soft coal traffic. Some of tho rnllroad Interests Insisted that theso exceptions nullify tho good effect of the ruling, but as tho derision was more closely studied It had a direct Influence- on tho trading In securities of tnlnk lino roads, and Is expected to be of great benefit to New Haven. Representatives of foreign houses hero stated that about S0.C00 shares In all were received from London at the be ginning af the week, and that a moderate amount Is expected to arrive on the Lu sltanla on Monday, but It Is Insisted that these shipments do not represent the European attitude In general, but simply reflect operations of Individuals and one or two Institutions which, for special rea sons, took advantngo of the strong mar ket which provalled here early In the Week. London was a moderate seller In the early trading today, but the supply was too small to Justify regarding It as 'a. market factoi. The features pf the movements of cur rency this week Inoludo tho smallest net gain from the Interior nnd tho largest shipments of nny week In a long time past. The net loss to the banks on oper ations was $8,108,000. The received $10, 63,000 from tho Interior nnd shipped J10, 633,000 to the Interior. Thus the gain on these operations was 1133,000, Ordinary disbursements by the Subtreasury were $15,651,000. Tho payments by banks amounted to 3,7,000, showing Xt loss on Subtreasury operations proper of JS.llS.OOJ. (h NEW YORK BOND SALES Low, Vi'i tioCS 1mlr Cloaa. ViV. tow ,,,..!' ) Adams Express 4a..,, li'.i I Amer Tel cvt -Ilia.... bilK I Armour Co 4V4a 1)1 I Atchison Ken 4 UHi i Atchlron cv 4a 1VUO,. MK dp Be loutf I Allan Co Una clt la., MlW I Unit A Ohio JV,a Mi ' rto 4a 88t4 I do cv 4 Ha HiZ I H.Mli Mteel rfd Ca 8414 I Urook Hap Tr Ba 10(8, US', i aa fii mil? "Y yv; 8SU 8! Mrt k Ilrook Un llai lit Aa..1l,lL? I Cent Cla lt ino la. .100 I Cant leather lit Ea.. DIM I t'.nt Pac lit 4 1. ...... Mil! ml i inea a. u cv 4?a,,,,, -rKf. I Cho Ohio 6.....,.JO-(5 I Cut II & q tee 4e...,. 04 I Chi Mil & 8t V cp Ss. 101J I Oil M & St P cv'ia, 532 l C 1 31 P Ken J.&I usC I Chi Jill & P Sli, 8sl? Chi It 1 & P col 4s... 23C I Col Ic South rl 4V4e. . , 71)8 ICon 41 CJ V N J aa..,xio!; 1 1X1 A Hud rf Ba.,,..' ml I Del & Hud dab la..., du Den A Itlo tlr rfd 3s.. 80 I Duluth & I Sa euu I Ula tfocur Corp Sa. . . . fit) I K Ton V & a con 3a..irriti lo-M 101 KH tl iO lioti 110 FA " M igu lil i6)H V V.I. .. T Im J. .'- I Erie rouv 4e Her A... I Kriu conv 4a bar II. . I ErU 4 I E U P con Ba 'General Motor 0. ... Hud & M Ba i Iowa. Central 4 111 Central rfd 4a. I 111 C ir I it 8 i Insp Cop cv 6a. ... . . I lntertt Met JUi S3H i lnlerb It 1 rC Ba. . . . oafi i Inter iler Mar 4VU.. WK y Interol Paper Sa si 8.T lnteml Pair 6a.. 1064 100 Inlnl ftm Pump !. uapanaae naw a. 1 Kan City Bo Ba. ...... DO 1 Lack (Tteal Ba JB1S. . 9S 1 Lacled.a On lit Ba...iai! 1 Hir t H j U loo . LorlllarJ B 100 Idrtlbird la m I Moo & Ohio 41 73 1 Wo Pa a 42U I Ma I'tJi cv 6a: 3s(, lw(l I IB ' fc W,W ...,..., VI z V."0?1 Ime Ha.-10T sx v, b u aa. . f) N r U t 1, 4l D K Y C fc St L tr 6a.. OC K V city 4a JJT... 931 R y w.t2r AS! N Y (U. U t Ba N Y JRwy raf U.. ' N I BWY M Narf & Waat oon 4a 1 oo evi ia .... 1 Nor fae wlor 4s 1 d can 3a. Faria.Hrf-ii::: vshw na . awn 4s p MiJ. IWv e KHtnn ;. Bo U . o 4a L Jt fl F rfd 4j Ctli at FlA & W SoJib I'ic aw U. do cv ret 1 8 b 1! ill rf3 to. ' M r COB M aouiu ra-c B.aiio Rwy lb Kit Lh Rwi Ok a t u- (as ea UUuoil h 1 w 4. 0GO u B ubr 8. . 1 w 1 el Hu-ol 4a . W Lirfoo pa 4a tag Vlon ti- e 4a MS Walaat lit a. WWW ju-. 3...i l all MM. fvl'. Bill, 0ST 88J2 101 1(11(1 14 lnnu inni? rvll .ni.7 r Of 65 811 loou 86 88 80 S?m 8?u 2?u T4M till tff 7 t1 SdO Oiil? iS ft 8?H bt'iStk i8 i!K! mi sV IiS : M 'I li liiL S. ii W Mlg loilj S3 T(t 51 p & J I I 7 " ai 1 fi NEW YORK STOCK SALES Yw.Cl. nih Loir 21H ClMS 24k Mk 30k 25k 89k 40 Oflk 45k 4k lPk 23 7k 23 05 68k 09) j 107 118k 2lR 2fl,k 03k f8 COk 09k 41 85 SO 15k 157 37k 100k 43k 34 20 20 00 125k 8k 12k 4 22k 36k 110 140 80k 24k 115k 20k 46k 118k 118k 110 75 12k 60k 10 7k 22 135 210 70 120)4 1 61 Ok 18k 30 107 10k 41k 12 1 68k 83k 22 101k 10lk 19k 107k 10 81 35 160 23k 10)." 147 Ik 2k 6 12k 180 84 10 45 32k b7 32k 12k 30H Atm Gold Mines.. 4. . 2-lH 54) Ann). Copper......... MJf Am, n.Setr. . 31H Am. Cm ... ........ 2(1! f do pttf ............ (K)H Am. Cotton Oil.. ...... 40 do pref . Am. GArA Fdr.. ...... 4S Am. Hide A Leather.... 4H Oopref .. Am. Ice....... Am T.lnseed ........... .. Am Loco.. 23H dopttt Am. Smeltlni. ........ fifi)j do pref 10O f6 53 aoii 54)( 89k 39 00k 46 4k 10k 22 7H 23 05 57H 90k 107 118 218 20k P2k 08k 08 COk 40! 85 85k 16k 165k 37k 100k 43k 33 J ( 28k 20 88 125 8J 12)5 4 21k 31k 110 140 80 24k 113k 20 45k 118k 118H 107 ' 75 12)i 50 10 7k 21k 133k 210 70 120k 1 61 Ok 18k 30 105 0k 41k 12 55k 81k 21 101k 99k 19k 107 10 81 3t 160 23 15k 145k 1 2k 6 lik 185k 3U 20 90' 40 07 48K 4H 10X 23 7J4 23 05 68W 09H Am.Sufir. 107M 107 Am.Tel.ATel H8Ji H8W Am.Tbbicco. 2I85 Anaconda Copper 28M 201 Atchfoon C3H 04 dorrrf... P8H Halt A Ohio QMt doprcf C0! IJeth Steel 40U do pref 84)2 Brooklyn Rapid Transit. 80 California Pet 1(1 70!i 09' 41 85 SO 15W Canadian Pac 167U 167K Central Leather 38H 38) Central Lea pref 100)i ChcsAOnlo 43)1 43! ChlnoCopper 35 34'f Chlcaco, Great Western . . doprcf 29 20 Colorado So 20 Chlcaco, Mil. St. Paul.. 80Ji P0U Chi A Northwest 127 Corn Products 8 Distillers Sec. 13 Denver and Rio Grand. . . Erie 22 dopref : 12H 5 2.1X 30) i ConsoKlu HOH 117 General Electric 140 140 General Motor 80)1 Goodrich Co 25 24 K Great Northern 116M 116H Great North Ore. Cent. 20! 27 Gucccnhelm 4fi!i HarTfsterNJ doprcf HOK 118W KocklnifValpref 118M III Central 110 IndlanaSteel doprcf Intcrboro-Motropolltan. 12J doprcf CUi Inspiration Wi International Paper Kansas City Southern.. 22 75 12X 51)4 16JJ 7H . 22 22 134M 135H . .. 210 . .. 70 . .. I2GU Ik LehlBh Valley Usit&MjersTob. .. Mackay Co Manhattan R'ys .... Mercantile Marine. .. Mcilcan Pctrollum,. 51 10 18) ( 30 107 10W 42Jf 12k 59 S4)j Jllssourl, Kansas A Texas Miami Copper Mo Kan A Tci pref. MStPASSM.... Missouri radflc... Montana Power Co . Nerada Con N. V.. N. II. AIL... New York Cen N. Y.. O. A West. 18) 30 10 42H 12K Efik 83 21 22M Norfolk A West 101H 102 Nprthern Pacific. 10IH 101H Pacific Mall.., .. 10k 108k 108k , .. 10 ... 81 Penna. ........ Pittsburgh Coal dopref ,. Pressed Steel Car 34H Pullman Co 151 Hallway Steel Sprlns... 23H Ray Cons I0H Rcadlne 148 Rock Island 1); dopref 1 2 Rumely Co........... ,. Seaboard Air Line Sears Roebuck .. So Pacific 8filX Southern Hallway 16) Standard MlUIne 45 Studebaker 33k do pruf ...... ..... Tennessee Copper. 33k Teias A Pacific 13K Tbiid Avenue .. .. ' Toledo. St. Louis AW.. .. do pref , TttlnCliy-RT Union Ran A Paper doprcf Union Pacific 118 Union Pac War 27i United Railways Inv... .. dopref ; U.S. Rubber. 5iH do 1st pref USSteel 51 3fik 150 23k 10k 148k Ik 2M 5 12k 1S6 85k 16k 45 33 87 325f 13 30)i 5)i 07 23k 118k 27i 24M C55i lC2k 5Ui 82k 10 45 32k 87 32 12 35 6k 07 23k 97 23k 118 27k 24k 64 102k 60k 105 42 100k 40 20 H 58 08J 110)1 27k 24k 63k 102 60k 104 42 look do pref United Clear Mfe do pref ........ Utah Copper VaCar Chem.... 104k 105 42 42 .. lOOJf 49 21 49 ZO ( 8 CSk ,3k 16k 30)f 48 2Q U 67JJ 07 3k 14 30J4- N abash J Western Union 5S)( Wcstlnthousa Elec OS Wheeling ALE do 2nd pref 3k Western Maryland UU Wisconsin Central " Total aalta, 22a,000 alurai. IS bHVi W 15k 30k 2 1028 10l NEW YOHK CUBB QUOTATIONS W. Asked. I'm VA . 13 29' h$H Sroden Copper doldneld Conaolldatcd Greene Cananea l.a noae . : M US. 45 i eu w J 120 Maxwell 1 4'. 4 o pref ,,..,.., t...'. 4 Mlplaalnx 6 Oils Elevator , 60 do praf ,,..,.. ,,., M ttlker-Htaermiti ..,,; IV, SlarllnK Qurn ...........,.,.,,, RT ToXaeco Produeta prer, .,.,.,.. 63 Vnltad CUara Storaa ,,, ,, SO 80 inn 81 ioo s&u MW , ," ,.,tn,..,u United l'ront Bharlna., ,.. 174, W lira Oyarland ,,,., 8:1 io praf ,, W Yukon Gold ..,..,,.,,,..,.,,.. Ji ou pr. ...r...tiu MINING STOCK QUOTATIONS TO.VOPAII. BTOCKB. Jim Butler 78 ,i Macnamare ,c llUmih Extrnalon .,...',.,.,.,... .30 J Montana , 87 ,1 North gtar ; IS .! Tonopah lltlnwt 4ti 41 Pjnopah Kitenalpo ,. 21 i Tonomb Mtrr M ,4 Tonspab Mlnlnir T4 V Weat SJT fi, W . OOLPlTBLP BTO0KS. Ail"! !, .43 .4 tllu Bull , 01 .11 S4. ' H .1 O. O P .91 'Jt Cemblnad, KUjp . 0 A NaBWndn.W B TJ M .0 105H I IB :8 j 'umD Iro rul Kaa ..u .12 :::::::::tr:::: BJANBQUS. ivar not . 10 &1JSCEJ44NBQUS. Fairy Ast ggg l::';:-::::.::;:-i::;3 ai aOVBKNMBNT BONDS Iiias. A4- X.,nj & cmmmmm vvTr JW ai, iiUMJ,. f?V7 i- 3 S o7 isit V i u ot uas, r ISM BAKS OUEAJSlINee JfflitS' MJU9 ....,..,, FUriw t.v ....... fflfflrw::. JumW 'laHi Ql Uftaknad TJ- .SKnf'-" .. M x3w rukiiHtdii::::::: 3Et . ww. Mtm.. r" 7 Mil .acjBri .a& iitSStni'-'. '''-''. Jfti - - fa m$k$. a . CkU HARROW MARKET IN LOCAL STOCKS, TRACTIONS HEAVY Brokers Discuss Rate De cision, Which Is Regarded as Specially Favorable to New Haven Road. The aote toplo of ocnversntlon on the treet nnd In local brokerage houie to day wus, of cotirso, the rat decision. Doth brokers and their customers were at a lots ks to Just how much tho rail roads had been benefitted, After the full text of the decision had been thoroughly digested tho concensus of opinion appeared to be that It wns even mors favornblo than had been hoped for. Although ths (inlhrtKilto roads nre not granted any Increase on that com modity, this had been expected, whereas tho granting of the full 6 par cent, was regarded ns particularly favorable to the New Haven, Pennsylvania. New Tork Central nnd Brie roads. A feature that appealed to tho financial community was the statemont that tho commission would go as far as It legally could to afford relief, the Inference belne that while not more than 5 per cent. Increase could be allowed on any class of freight becaus4 no more had' been asked, future appli cations for larger Increases would re ceive favornblo consideration, Mnrkctwlse In this city tho news was followo-l by a confused movement of rela tively narrow proportions, Pennsylvania and Heading, which had been ruling rather heavy, milled only to case oft again. Iehlgh Valley hardened nfter an early decline, but nond of the railway shares showed any nctlvtty. United States Steel was briskly traded In and dis played Irregularity. Heaviness wns ths rulo In Iiapld Transit, Philadelphia Electric and Cambria Steel. On tho other hand, United Qas Improvement recovered a good part of yesterday's docllne, and lntor Pennsylvania moved up. Union Traction, In the afternoon, declined more than a point nnd Welsbach sold nt 35 for an odd tot. compared with 30, the last previous quotation made In July. In the lato dealings all the local trac tion securities showed a downward tend ency. Klectrlc and Peoples 4s wont below 79 nnd Philadelphia Traction also sold at that figure, a loss of a point from last night's close. LOCAL STOCK AND BOND SALES Yes. cloaa. 10 Am Can 0 0 Am Ooa 10LH "S5h J81 IH (tt'i 411 i mi 10 78 Ijnv, Cloae. 25 25 10UVJ 100H 101 101 M M pan wn U 43 481, 40 2lf 21 10 10 7S 7S 7TK 77't AT 07H 2 ZS 84U 84i i3 P5 40 4(1 23U 21 x i2n TH 70 ifi 117U ssa sit 223 221 .V) BOM .!5 33 BO BO rkat. 3:40 Low. P. M. 83 83 f)7H 07 78 78W 08 OS OT 0T S3 63 s H 74V4 78H v) Am icya pror. .101 10 Am Sm-lt ts.H 01 . S.SU si js Atcmaon pa 120 Cam steel m 20 l:iftc HtnrniZA ft 110 Ina Co N Am... 21ti SlK Key Tal Co 13( M Lake 8u Corp. 10 a l.eh Nav T8 2 do t 0 TO 01 Ih Val m 30 1, Vat T rf.... 28 7 Northern Con... 84V4 273 Penna It P. MH IK Penna bait Mfr. ti.l 23 Phil Co cum prf 40 J! .mi rnna Electric. - IPO P n T tr ctfs. 28 llilla Traction. )12 Heading BOS Tonooah 11-1 12?i 80 74 $ ill 4 l!i Tonowih Mining 10 Utah CoDntr ..140 41K 117 60 10 Union t'acinr. ,;un 200 Union Traction. 40 S(i l'niled (aa Imp 82 ii u i;oa r. j -& 1213 II H Htfel 51 11 Walabach Co... .10 10 W J A Hea 50 "Oil Vnrk Ilwv EW BVi tfiat Jilaht'a rW Kaw York markat. 'loiai aaioa, .ooi anares. llONDa Iiat prev. aid. IIlAli. 0000 Am. (1 & K Sa. f.l'i 81111 tu warn matt acrip i'vi 1000 n & V Tr 4a... 80 100 Inter Hwya 4i. .IT 2000 Ih N ens 4Ua. OS 2000 I, V gn cna 4U. OS :rio reo P it t c 4e m BOX) I'hl Co cona 5s. 80 308 Phlla Cn acrlp.. nt 7UOi Phlla Klen 4a. . T8V4 Total aalca. 123,468. 0TH US OT M fKVJ nt" T8!i Wi HALF HOURLY SALES 10 to 10.30 A. IT. 13 IMr.na Salt.. 03 23 Phlla Elee. . . 24 2)0 U S Steel.... BOH 10 W J A H 8.. 50 5 Union Trac. . 40ty T North Cant., sljj 10 Am Rwva Dt.101 10 Penna ,...,M 1-18 SO do 54 1-18 4 I-K HUP Cop 10 dol. 10 10 10 Cam Steal.. 10 II B Si.l 00... 28 Phlla Trac... M 10 iinlon Traa. ling ...74 1-W 13 neadlntr 73 0.......74 1-10 100 York I?wy...SlH Valley.. 07J4 10 t'tah Copper, loll a 87t 100 York itivy... syt ." II Heading d uo 8 l.eh S do DONDS, liono Am CHe & Eire 5a 83 100 lnter.tate Ilwy 4a 57 20 Am Oaa & lueo Sa es HO Am flan ft Klfo 9a H3 300 Phlla Co acrlp 01 10.30 to 11 A. M. 10 Penna .,..311.16 10 Un Padfla..llT 1 do 541-ltl SO Penna 5.1 4 do ai l.io n I" H T t o.. 1 30 do....,..., fit 10 Am Oaa lot 20 th 'alley.. UTJi ip Am Smelt... M 10 U a Bteal... SAH in Ih Vallay. . 117: n,. h. unil in ft o ci..i .A 40J Steel, . 56 10 Penna",;!!'. 53JJ 100 do 20 Heading .... T t4t Penn, MM .13 3 tin Cua N J. 223 13 Phlla Elec... 2TI 100 U 3 Hlrel... SV( 100 do......... it 11 to 11.30 A. M. 20 V O 1 82 10O Ton Bel,, .,,40-18 VAUh Valley., 87 IU S Bteel... Mtt 7 do uf 21 Panna .... K110-1& a Am Oa lOi 23 Atohlaon .... W SO Ln V Tr Pf. 2.3 SO Penna. ,,,,,. HlK 1 Daadlng .... U5i 1fl U a Steel... 51 1 Un Co. N J.2J.1 100 do.. ....... 51 , 10 Am Can 3 10 hh Vallay.. et POND! irw Am Ca & Elec 5a 83 J(o Ueh Nav cona iiv W ii.3o a. ir. to la m. 10 peadlng CO da 100 P It T t e, K x renna ... 0 cam Sttal ICO Phlla Elec ... i BONUS. 63 Cam Steal acilp l!i IB to 12.30 P, 21. 20 Cam Steal... 42'i T Henna 841, 2 l-eh Nav t c J7U 140 las Co N A. H 3 Ull av.,.., 78 . ' BONP3, 2009 Paop Paaa P.wy t a 4....,,.,,.,. S3 13.30 to 1 P. St. 5 Tonopab Bel, 4 Phlla lo... 23 80 V 8 S(el... B 11 WeF.baih Ca. M 8 Phlla Blee... l 10 U S Steal.. . 61 8 iip,SSf..::::::i1l. 8 Penna. ,,..f. Bti 15 TonoDah &Dn 400 Toaepah UeL 1 to 1.80 p. St. 10 U 8 Steel 10 U S Steel V!::: m i P&fiatie T: iz ranna 1.30 to a p. si, 9 Puiu ::M M do 9H 100 Uip Tro.fi BONDS. MOQ.PeIUL 0 GB4U WW Sa. ... SOH a to u.ao i". ii. 8 Falls Blee... II Paaoa. B aflaa Store ra. 4. 8,00 to a P, ST. m ... I.i 13 Paaa ... tfw $.."':: if I.W. ! Ww wfeo:::::;!:-..:: P Insire glst Bombftiitutat on aw t Ha a $ I OtfllCV saaalura-. maat. 4o4 a ai La tltot Jty r hmmw uj laf SA U.VS 4 J. ,,'Hejwi Mr lat was 1 -Ifrrtifiit mk Wk ! SHp.Stawgl. 49 . ais j? A. Du. Li. -A hiu , . Hu aaaj, a w,aw.uM intwaaaa HMT of otaar lui a e I rtwHiaWy ' ' Hk 8 1 HaJaMP'''' ifiai-i"' .t'VfiiiMiBl B VSeanBKrSv viaa. AaKaw 6 WsP:L ' Wyl I W'-' .laHaV I W i iiJiK? I JB$& t3R3!ltK?JvviaiSa!ll(3aS Photo, by Kvana studio. WILLIAM H. CLARK Elected president of the United Firemen's Insurance Company. He is the president of the Quaker City National Bank, and a director in numerous other financial and real estate companies. FINANCIAL BRIEFS Commenting on the rato decision, Fred erick T. Chandler said: "I consider tho rate decision extremely favorable. I be lieve It should change pessimistic utter-' niicca Into cheerful confidence. Our Washington ndvlces say when the S per cent ndvancc was naked for It was said It would erlvo railroads J'O.OOO.COO." The Union National Bnnk retired JICO. 000 emergency currency nt the local flub trcaaury today. B. D. Harris, vice president of the South Texas National Bank, has been made a vice president of tho National City Bank of Now York, to tako charge of the bank's outside work In tho South, The governors of tho Chicago Stock Exchange have listed an additional $5, 000.000 Swift & Co, first mortgngo Rs, making tho total outstanding 115,000,000. New York city national banks retired H.406,O(X emergency curroncy, maklitg ft total retired to data J12S.332.C40. This leaves about 111,600,000 to bo retired. Tho Indiana Plpo Lino Company ro duced Its quarterly dividend from 12.50 to ti. Emergenoy curroncy to the amount of 1120,000 has been retired at the local Sub treasury; Dank of North America, $50,000; Merchants' National Bank of Newark, N. J., J50.000. and tho Northern National Bank, 120,000. The New York banks lost to the Sub treasury yestcrdny 12,227,000 and slnco Fri day haVe lost $8,448,000. Receivers of the St. Louis and San Francisco Railroad havo sold 13,000,000 one-year 6 per cent, certificates, prac tically the entire amount of which has been resold to banks In New York and other cities. The balance la bolng offered at 100 and Interest. The S5th anniversary of tho founding of the Starr Savings Bank was celebrated tcAlny at the homo of ,the company, S20 South Vth street. - The city of Montreal la said to be ne gotiating with New York bankers for a loan of $8,500,000 In three-year notes. The New York banks transferred J350, 000 to New Orleans. The reported movemonts of currency this week Indicate a loss In cash by banks of about $3,000,000. Frank M. Hardt, cashier of the Federal Reserve Bank of Philadelphia, will as sume his duties on next Monday. According to Brodstreet's, exports of wheat this week were 9,707,000 bushels; latt week, 6,000,000 bushels; last year, C.Ml.OOO bushels; since July 1, 151,451,000 bushels; year ago, 142,875,000 bushels. Com shipments this week, 1,194,000 bushels; lait week, 759,000; last year, 30,000. Corn shipments since July 1 amounted to 5,320. 000 bushels, compared with 1,077,000 bush els during the same period of 1913. COTTON SIABKET STEADY NEW YORK. Dec. 18.-In the afternoon the cotton market was less active fol lowing the early period of liquidation and local pressure, but ruled steady at a recovery of some 6 to 3 points from the lowest. No local confirmation was had of tho Nw Orleans report that' the English Government had ordered that no vessels be allowed to leave port with out Government consent, and there was a disposition to cover up cotton sold on this story. The exports of cotton today aggregated 7(91 bales, Including 4931 bales to Great Britain and 1607 bales to France. Total exports thus far this season amount to 2.021,113 bales, contrasted with 4,919,811 bales In the corresponding period last season. fra. . oie, Open, lllih. I-ow. Cloie ..7.00 f.W 7.J1 7.03 7,10 .. 7.2 J 7.80 7.S8 7.25 7.ao December January aiarcn May July October SPOT, T.W. 7.48 7.M 7.41 1..V1 7.d 7.IW 7.82 8.03 7.70 7.8d 8.12 7.57 7.74 8.01 7.6d 7.W 8.10 l.A SHORT-TEBSI N0TE3 IUtB Amal Copper S Amer loco ...... ,6 Am Tel Tel aub.S Amer Too acrlp...? Baltimore Ohla.4H letfalehom Btel....S Brook Rap Tr B Canadian Vac. ,....$ 8 4 O '? hi & Wait Ind,.B Chicago levated..B Erie 5 ErU Bile ..... ....... ,Vi Otqeiat Motor I, General Rubber ..4V, Her Rly.el Port...B lateral IUrveet....S Lackawanna Steel. 5 La, 80. Mich Sou.5 1.4 6h b Mich 8u.S Mlchljtn Cent ....4 Vi Man Pram P...B N Ens Nav .. ..6 N Y Can 4k Hiul R.fi N Y Ceo & Hud K.4VJ N Y Can & Hud R.S N Y Cea ft Hud H.B New York City... 8 New York City... 8 New York City... a NY. Nil 4 11 B Pac Oaa Blee. (J iW.W-N-i:!M Bid. Aiked, 100 lOOVi i-100'i foot! nv II Sm Air Line B southern 5 IRFEi!feA!M eaten HTM -9 ffi&f .v.:::! uuT. i POWDBB S5K30K QTJOTATIONS Bid 4at jfeiKngiiii D 44MSWM . flMtt' Due. Mar. 10L3 July 1U13 Apr. litis Bept. 11119 JLae 1015 -,. .,,. 11, ,IMllb July lis t)S 00(J Mar. lBi4 loi'J ioa ' June 101a C0-!-,Ki: Kept. 1013 wt W& July lOlo uaC ot2 April wis oo5ir! Dot. 1015 B7 p April WIT 842- M July 1818 SJ c May 1815 W- W Pab. ll loo -loSu Mar. 1915 98?.-BGt Sept. ISIS M-iuR! Dec. 1018 MS-lST B H 'fclis April 1813 SbC- Wi May 1813 9fl ftftS Sept 1918 W4 5S2 Mar. 1918 S2-ioaiI oa. 1815 SeS- sSQ Mar. lAlS toC- oaJ Mar. lBl MU- S2 i I'll" 3 Jum gig W - Bj AtwU W17 7U- B. I. "ulW D ianau'i . UgasA Poda i ajS 4Vfi P.dr , . ., aWtt Ml fm cem bMa-. Tj T WHEAT ADVANCES TO HIGHEST PRICES IN NEW MOVEMENT Reaction From Top, But Good Support Develops on All Declines Export Sales 1,000,000 Bushels. CIIlCAao, Dec 18. Wheat today ad vanced to the highest prices in tho pres ent movement There woa a. reaction from tho top, but good support developed on all declines. Snle for export were estimated nt 1,000,000 bushels, contrasted with a totel yesterday approaching 3,000,000 bushels. Tho falling off in tho business v ns due to a drenso In the supply avail able and the inability of oasli houses to buy wheat from farmers. Farmers In tho winter wheat belt have rained their prices materially, and some of them will not sell below $1.15, There wcro unconfirmed rumors that the English Government had Issuod Instructions to al low no vessels to leavo port without per mission. Cash sales woro 00,000 bushels. Bradstreets reported trio exports of wheut ond flour for tho wcolt at 9,707,133 bushels, against C,M1,103 bushels a year ngo, and slnro July 1 at 181.100,774 bushels, aguliut 142.07o.IC5 bushels In 1913. Future closed 14 to higher. Corn was stronger In tho morning, act ing With wheat and on realUIng Inter. Interior sold more corn today to nrrlvo than for a long time. Domestlo and ex port inquiry wns good, but local sellers hold values firm. Tho wcek'a exports from tho United States wcro tho largest In n long time, 1,193,560 bushels agnlnst 10.891 bushels a. year ago; slnco July, 5,820,101 bushels against 1,077,335 bushels In 1913. Futures closed He. lower to ic higher. Onts finally were easy, although show ing somo strength early. There wero Inrgo export orders here, but at figures not acceptable to owners. Cash sales wero 160,000 bushels. Futures closed unchanged to V4c. lower. Provisions woro active. Leading futures ranged as follow.: Yesterday's Wheal Open. 11 ah Law. rins... ciftep. December .. 1.2014 1.21'i t.20 '1.2014 41.50 May 1.21U 1.2414 i.sa4 l.ss 1.2rl Ju .... 1.17 1.17V4 Lioyti.10 1.16 December .. 1.S0I4 1.21'i t.20 '1.2014 41.5014 1614 Corn (new rie!lcrv- rcember .. 04 u ftlU Mav "Ill; 7014 Mil iHU rai'S "70 701 t?co; tIS July. ... 71 7114 uaie December g 4Ki 41 B2 isa, m 10.12 1.3T May .... Lard January 10.18 10.35 10 00 10.38 10.17 10.37 10.10 tio.io 10.27 10.27 Aiav .... I u La- January , 10.02 10.33 n.BS .! 10 07 10.23 tl0.27 10.32 mw . . . . l'ork January May ... ...1R.83 Uid. TAaUed. 1822 18.87 18.20 18.20 41? 40 18.03 -lS.M O 118.87 LIVE STOCK QUOTATIONS CHICAGO, Dec. 18. HOGS. Receipts, 38,. 000. Markets, Be. lower. Mixed and butchers, td.tfi?..!; -ood heavy, J7W7.30; rough heavy, JuTHOn.li.l. IlKht. ttt.e0S7.3B; pigs, 3.23V S.BO; bulk, .08a7.23. OATTOi-Ilecelpte, 40iiO. Market", weak. Ileevra, J5.BO3U.30i cows and heifers, JI.23fJ8.-io; atockera and rrrdtrs. t4.ri0Qb.ilO; Texans, J73.10; calves, 7,1H.S0. ailBBP. ftecelnta. 1H.00O. Markota, eti-ady. Native and Western, t3.B0ir8.23; lamba, 13 50(28.70. BUYING EGYPTIAN BONDS Proclamation of Protectorate Caused Demand in London. LONDON, Dec. 18. Prlco changes In securities In the street wero narrow to day. There was buying of Egyptian bonds, owing to the proclaiming of a British protectorate over Egypt. Gilt edged Investment Issues were dull. The new war scrip was quoted at a discount of three-sixteenths per cent., momen tarily feeling the effect of competition from the Qrand Trunk Itallway's new Issue Of 1,000,000 three year Sb per cent, notes. The home railway group was firm, but Americans were quiet and steady. There was buying of Canadian Pacifies, despite the continued falling off In the earnings of the road. Grand Trunk issues received fresh support. Brazilian securities were weaker in sympathy with exchange. There was another slump In Mexican railway Issues, Firmness characterized the dealings in the mining department. Rio Tintos moved up to C3U Influenced by record earnings, shipping securities were strong. NOVEMBER DOMESTIC EXPORTS The chief of the Bureau of Statistics. De partment of Commerce and Labor, -eporta the rrlnclpa! domestic vxporla for November and 11 monwta ui,e, .-,w,ct. " November. . , '14- Breadi'tutts 40.Wt2,833 Cottonaeed Oil ....... 1.632.487 Cattle, sheep, hogs, etc 23,313 1013. $10,107,187 1,743,021 60.7U1 11,404.771 103,824,8:1 ei.atai.ou 138,400,333 Mrat and dairy pruu ucts 13,770,708 81.02.1 314 0.S40.L10 Cuiton ..... Mineral olla Total 07,101, usa Eleven months ended November 30. nroadituffa I224.449.310 180,327,BS8 Cottonseed oil ....... 12,303,417 lB.Wri.778 Cattle, nose, eucwy, 871,001 116,03.1,(S1 201,347,344 128.M4.G80 7u:,iiK,wx 813.031 128,020,628 40-1,134.(81 133.42U.32-J Ui0.SS0.tB4 Meat and dairy prod. uuta Cotton Mineral oils Tout L0CAI. BID AND ASKED Yeaterday. Today. Bllj;.Aaked. BIX Asked. ..10541 1Q4 ioa; im Baldwin pref. Cam Steel ... Klac tsteraxa Gen Aap do pref Key Tl do pref ..... Lake Sup Co. .. 4Sii 41. 42 41 ' ' ll't . a Am .- l7 I.en r.av tit.li. TT F Phlla U T t c. fnuu. wv ... PhlU BIe ! Ilnar .. .. Ton Bet ." -ion Vn Trae .... u M a, U 1 g --.-Yorlc B7 do prf ' DIVIDENDS DECIARED Mortage-Bond Cowpany, pf New Vork, quartarlv tji per eaot.. Myabla Poasmbar 31, tO IIW.HUWW. W& IWWU UWMHHW Oaaaral Baku iuic Cwpuany. regular quarterly prafarrM. payasTe January l to I par cant w stork of record Kolb Bakary Company, ravular ourtty IK r cert 00 preferred. payakH Jaauarr 1 to par cart IIOCK l IWMIi MWWf. ft. raanactU-ut Rl.er Power Company, lu pr cant., payabla January 1 to nock of rvewd leceBaor Id Tayler-Wbartoa Iron and at CfentHUir. letular uuartarl, JH. par cant. Ofl prefefred. lvalue raoriMftry a. Sioy, nrw A praXama. vBM riaf SB ir QuarUrly 1W par seat a saris , liyatiU Jgaury 1 to stock of t fHihlii! Aarvtoa Cmrnaralaan af Haw say. rauli- quarterly AS pC cant , H, U'canajar 31 to stock U record nx-amljar nuartuiV 1W HOT tOBt Si uriW Mr cent sa corttnoo. BsYeJU January l asoclc 01 rauaro. utunw a. riWti d35&.y ai . nyMe February U w abies 4 record Jauu- . Heats. 6s Co.. cttitUr .iHrtly at IV at on trwexra4 Eeiswe spaiwsry i to of record Dacaoibar X4 t najciru. i-isai a&a roer coaupaoy, aton ao4 i'.c, k island uml uaml of tLoca qi ntora Mh Otuaiau uumtmni ea m ntmi Mi ni Tiara Heci- H 43ti 4IIU Sk 7; taw 13 t:t2 i- 61 01 - 10 .. id ,. 78 70 77U 78 78 78 7l Tg 07H 08 67(1 61): 61',. at',, taS IV 2J l 12S 13T4 m i m ivi . .n m- ?! aaO K 4B CB jS ......... jy wa w auK ::::::::: ? S T tftayaxue raeriMiry a. New JSxulend rower Company, ovartaett Mi ver "cent c MaNrredjBayabU Jaauary l i& fciumhSsRaliwav. raker and LLsfet ruat. jsr sapay, am jJj-.rf VtHRslxa xw)lwi nut ITjr MSWVW pi -u 1-- it Pliiladelpliiu Markets II , I W GRAIN AND FLOUR WHEAT. Iteeelple 172.T8 bush. There was considerable enport Inquiry and th" mar k't further advancod le. Quotatlena: Car Iota. In export. elevator No. 2, red, spot and Ijecember 1.22M.23H; No. 2. red Western, fl.afWJl.SS. No. 1, Northern Duluth, 1.30tf 132. flunn were moderate and the market rvaa lit, hfeher ulth a fair demand, ouotatlona: Car lota for locsl traoa, as to location No. 3, yellow, new, 7287214c. I steamer, yellow, new, 70H 71o.: No. t. yellow, new. couoroe.i mimn.o yellow, new, voeosvic: Hew cob, per 70 Iba., 6048' O.VTfl. n.relpla 17,817 bueh. Offartnca were llitht and the market waa He. higher, tluotatlonai No. 2, white, B4Uao5o.s standard niuir. mng(w,; no, ,i, wnite, uivaic ,. I'J.OUIt. Ilecelpts. BOO bbi. and 2,121,007 lb. In sacks, rrlcee were firmly held, but tradfi waa nulet, quotations t Per 193 lbs.. In wood Winter, clear. 34 s.lialtl do., ilralsht, tA.tnias.33; do., patent, 43.nuR3.7St Kansas, (tratiht, lute sacks. S,V2uB,40: do., patntt Jute aacka, .l.4ue3,n3i spring, first, cleat B.l0js.8O: do., straight, jBJisas.nOi doy patent, 4n.03O3.fi0i do, favorite brands, SOij O.SOj city mills, choice and fancy patent, IRQ n.BO: city mills, regular grades winter, clear, 34.73t4,0; do., atraliht, 3S.23i do., patent B r0Hn 73. ItYK n.OUn waa In email supply and firm. We quote nearby and Western, In wood, at JOQO.SO. PROVISIONS Tha market aulet ond without Important chanso, quotations' city ba(. In aeta. amok d and alr-drled, 28St21)o.t do., Weateni, In rets, emokml. 2S(i20o,i do., city, knuckles and tenders, smoked and alr-drled. xu.,t., tw.. Western, knuckles and tendera. amoked. 2 80c. i do., ham. 33Mr3a; pork, family. t23.30& 24: hams. B. P. cured. fae, 1314014.: do. skinned, looae, 13013HC.I do., do., amoked, II JJMHc.; other hams, amoked, city cured, aa to brand and avenge, lSOlSHo.; do., amoked, etern cured, lCSUHci do., boiled, boneless, 20521C.1 picnic ahoulderf, 8. P. cured, loore. U'fUo. do., smoked, 12UOl3Uc.:.Miiii, ln do., tuh. tlimnu... An . niira nltv. kettle tendered. In tierces, UUCllHc; do., da., du.. In tuba, ltHOUVto. REFINED SUGARS Th.rn wns Utile tradlnr. but values ruled steidv. Iloilners' Hit iirkos; Htandanl aran ulated, oc; fine amnufatcd, 4D3c,t uowdeird, 6,03e.: confcctlorcra' A, 4.83c. i toft rrades. 4.104t4.70c. DAIRY PRODUCTS IllITTKIU Kaney nualltlea were In small supply and nrm. with demand tqual to the offerings. Quotations.- Western, trosh. solid pockod, creamery, fancy apeclala, 3Sc.: extra, 34c: extra nrau, 32)l3c.: flrata, .loi.llc: sec onds, 202So, , ladle-packed, ilttilc, aa to quality: nearby prints, fancy, 37c; do., aver age extra, 11MJ30C.I do., firsts, 32C33a: do., inconda. :8t30c. Special fancy branda of prints Jobbing at 4I44c. C1IEK8K. The market quiet but steady under molerato oflerlnga. quotations! New York, full-cream, earlier receipts, choice, inc.; do., do., current make, choice, 15J13!ic:, do., do, (air to good, 14KU14lic.; do,, part aKlnta, 8013c. EHG8. Choirs frash stock was scarce, and wanted at full prices. Quotations: In frco cases, nearby, extras, 41c. per dos.; nearby firsts $12.00 per standard case; good nearly current receipts, 112 per atanrtard case; mixed held and fresh and ordinary stock. 310.204; 11 10 per case. Western, extra firsts. Jl'lVU per case, do., firsts, 12 per case: Southern, UI.-KWm per rase. Refrigerator ecga, chol.-e and fancy fall-packed, 27fMOc; do., aprlng packed, ns to quality, 21820c per doz Fancy .elected candled (reah egga were jobbed out at 47919c. per doz. POULTRY 7,1 VK. Fancy stock steadily held, but ordinary poultry dull and barely teady. Quo tations: Fowln, Utfi3c; old roosters, 10c: spring chickens, according to quality, 10tfJl.ic: turkeys, lllQlSc. , ducks, 13014c: geese, 130 13o. , guineas, oung, weighing 2 lbs. nnd over nplece, per pair, Ouc. . weighing IVtVlr. lbs. apiece, per pair, fj0v3c.; guineas, old, per pair, 4uc pigeons, ner Dalr. 133118c DUESSKIl. Itecelpta of fins desirable aleu stock light and market firm, with trade fair. Quotations: Turkeys, dry-packed Kuncy. large, nearby, 21t722c. : do. Western, 21c; average rocelpta. 17 Mine; Inferior, 12V 13c; No. 1 old, 18c Fowls, 12 to box, dry-packed, ecleeted heavy, 184c: welghl'ij h?3 lbs. apiece. mc; do., 4i74H lbs. apiece, 17c; do., 4 lbs. apiece, lOUc; do., 3(i Iba. apiece, 14615c, do., 3 lbs. and under, 125: 13c. ; fowls, bbla., dry-packed western, dry-picked, waa ins, apiece, i8Hc; do., 4 lbs.. ISHc; do.. 3U lbs., 14c; da, 3 lbs. and under. 12313c; old roosters, or: Nearby. 1 Iry-plcked, 1-Kc ; broiling chickens I(Ja2 (ba. apiece, 2022c: do., od, 16aisc: Western. T4ji Iba. fair to aood. apiece, 20c; do., fair to good, 14G218c; roast tnr chickens, drv-oacked. ln boxes Milk-fed. IS to 24 Iba. to doi. 22tD23o,: milk-fed, 33 to 20 lbs. to dot.. llXtSlc. ; corn-fed, 18 to 24 Iba. to dot.. :oilc. : corn-ted, 33 to 30 Iba. to dox., ISMItlc. ; milk-fed. 31 to 36 Iba to dot.. 14 He: milk-Tod, 37 to 42 lbs. to doz., 14Uc; milk-fed, 43 to 47 lbs. to doz.. lSV&o,: milk fed. 48 lbs. to dot., 17c; milk-fed. 60 lbs. snd over, 18c: corn-fed, 31 to 3d lbs, to dox.. IH iox., ion l 13)1 .. 14 a ox., 17c: ni4c. : corn-red, :it to .' ids. to aot 14c: corn-red. 43 to 47 lbs. to dox. 13c : corn-fed. 4S Iba. and over to dox. coin-fad, CO Iba. and over, 18o. : roaatlng chickens, dry-packed, In bbls. Western, milk fed, dry-picked, 3 lbs, and over. 17c: Western, milk-fed. 4 lbs.. 10c; Western, milk-fed. 3N lbs., 14Uc; Western, r mixed weights. 14314Hc. 2Vi3 lbs., 14c; Western, milk-red, drypickea, western, rmiK-nu, corn-fed. & Iba. and over. 16c,; watem, cornfed, 4 Iba., 1&C.J weatern, conwta, ary-picKca, mua wemni, 1. . Wta exH.M U 1 Ik. II 1l,.. em. corn-fed. 2HQ3 iba., 13 Vic. Spring ducka. UOl3c 8prlng geeso, 1213c. i4auaba. aoten wnita. weighing 11 to 13 n, SltM.M. white, neighing 0 to ozen. 13 2,tff3.7Sl white, uelahlnr IPS. per uoaen, .igt..i, wnue, neigninr u to 10 Iba. per doten, 3 2.1713.73: white, weighing b lbs. ner doten. I2.MHJ2.73: do.. 7 lbs. Der b lbs. per doten, 2.MVfi2.73: do., 7 lbs. per doxen, 3202 23; do. cm CIA lbs per doten, (1.23 01,30; dark and No. 2, McetU ' FRESH FRUITS Trade generally qiilet and market without lmrortant change Quotattona: Applea, New York, tier bbl. King. S2.73a.3.Si! llaldnln. 31 7302.30: Oretnlnx. f3T3.30; Bpy. I1.73W L'nii! mn.r itdo'I p.im. vnri.ri.. II .."if other good eating varletlea. Su; metiium, aLTfi.ou; aopies. western, per , -. j...-t- - .:.- ---- lum. iflfl.fi0: aooles. Western. nr hov Jiei.50; apples, Delaware and Pennsylvania. I'er hamper, S02C0c. ; lemons, per lox. t'lOl oranxea. Florida, per box. xl. 73472.23: tan- Ferine.. Florida, per atrap. 'i SOtio.fvi; grape rult, Florida, per box. 41.23tr2.23: pineapples, per crate Porto Rico. 11.2303; Florida, 1 2.30; cranberries, fancy late varieties, per bbl.. 13.7334.23; cranberries, Cane Cod. Early Tllack. per bbl . 33(24: cranberries. Capo Cod. Karly Black, per crate, 7 .V. el 1.50: cranber ries Jsraey.per crate. 7BcU.23: peara. New York, per bid. Seckel. t3.S03: Duchess, J203; Howell. 1283.30- other varieties, 23. VEGETABLES Demand fair for choice stock and values generally well sustained. Quotattona: White potatoes. Per bush. Pennsylvania. CS&t!c riew xorn. .iiBH;.; wnua potatoes, jar' s.y, per basket, 33&40C; aweet patatpea. East. ern snore, per DDL .No. l, Jiiu.'.js; No. 2. No. 3. 11.30 ei.73: sweets, Jersey, p 3ttS.r0; No. 2, 2gl3.3ri; no:. rio. i, aweets. Jersey. B...C1, WttlW, Onions, choice, per bush., 03c. in., 70475c; do., ordinary, per bush.. 60 , 'do., choice, per 100-lb bag. il.334il.30 .medium, per lOO-lb, bug 85c.il; do., sec- HO. II1.U1U1I,. .' 4W.W, M, MU.Ii.li U T f . .. ,dl.lk kav .V.iTH r.aV.. ..a ncatlc, per ton, JSfjO; do., Danish, per ton. 3103412. CaullMoKer, New York, per crate. 73:. Ufl.33, Si'lniiCh. N-i'fo'.k. tier llil.. 11(11 30, Kale. Norfolk, per bbl.. 03000c. Lettuce. Vlor. Ida. Pr baaket. 1181.60: do.. North Carolina, per basktt, 30$t75c lleans. Florida, per basket, 3tl4 30. Kggplant. Florida, par box. 33.3041 4. Cucumbers; Florida, per taskst, 3t.7Sfia.lvi; Snua.h Klorlaa. per pasicet, ai.wnz. Haw York, per ouncn. ?40c. Jir 4-lb. basket. 1181.30. NEW YORX COFFEE MAE: iew YOllK. Dec. IS. Tha N coS market opened steady, with prides iin.hi.rMi from last nlzbt a closlns. LA cemtoer, 0o bid; January. O.lOc. bid; February, asoo bid; March. 8.33c. bid: April. 6.30a. hid. May. 6.42c. bid; June, 6.40c. hid; July. 7 tic. bid; August, 7.30c bid; September, 7.36c. bl4; October, 7.43c bid; November, f.Jle. bid. NEW YORK BUTTER AND EQQS NEW TOHK. Pe. 18.-BUTTBR-Markt nrmerirecolpu. 6818 packagea. extra oream ary. 3ic : higher acorlne. 3ll433c. ; blate, dairy, 33888c, Imitation ereamery, 23Sc iJlltaMarket steady : receipts. ISOT oaaasi freih extra, ftrata. 4M44C; fraah. flrsta, 40 Cotton Xlnters Report pua Bureau of Census report (he quantity or cottoa Md crwabad and Ualars obtalnoa IhareTroHi Prior U Dacember 1, this aoaaoa, iviach ceajara vlth iba output of ltU aa toUow. to & 1. rrurttd Big- Coke Contraeta Closed nriW4WL.Br 18.-3erli, McKia xtair &.(.. f davalaai. bu contractod tur SmSiS!tN jgrnad lit Its coke. Uvwvtac S.603 taaU JP)lWy. .It U uaOaratoftd Taeoa caaitraats veft ai iisa ?- saw w taw wraaaa. RATBS 70R MONEY liter. rafeoxa liaxeaiatUa HU l wper. to 8 mootoj" fb. lvaaT4xiaJipir ca4U. Keserve B4uUsa' Discount KiU UUasTSaTBQBak. Yora-s-aalaaTar tja ftiuTofra. Ur Sm Lsj, I" fts 4 ?(- i 3" J OU to tXi ao ;, i i ftl2 at 82 i J&sa ., ! 8 5 f LOCAL TRADE CONDITIONS SHOW LITTLE IMPROVEtVIEMT Demand for Holiday Specialties HAa Brightened Spots. Trade conultlons In th! city cbati)tc4 Utile during- the latt week. In oitle lines there waa ix ellpht betterment, but In these caaea It was principally for liotlday Rpeclaltlea. The hulldlns nnd conlractlitR business furnished an exception, It being; reported that tho volume showed t marked Increase. In their weekly review of business: cort dltlons In Philadelphia, It, o. Dun U Cs. say: "Conditions In the local cotton trade show no Improvement ovor last week. Tho business Is dull arid uninterested and there Is but llttlo demand, It being; stated that only about 150 or 40 per cent of ma chinery In the local textile Industry usIiir aitton yarns nre In operation. There Is a light demand for wool at present, which Is attributed to the fact that the British Government haa announced that It would permit tho exportation to tho United Stales of Australian and merino wool, provided satisfactory guarantees wootd be filvtn that tho wool would not In any way be sent to hostile countries. Tho Iron nnd steel market continue to show some Improvement, particularly In tho buying of pi. Iron, which Is re ported to havo shown considerable strength durlnn the last week. Finished material Also Is reported to have shown somo Improvement, though buying con tinues to be chiefly In small lots. Rail roads aro purchasing- but moderately nnd orders' for heavy material coma out slowly. Now orders for Btr tural ma terial havo also been light. Somo bus iness Is reported under consideration for export, but has not crystallised to any extent. Tho electrical trade reports a very fcal Isfactory trado In holiday specialties, though prices aro said to be closo and profits small. The demand for lumber of practically all grades remains slack, according to local houses consulted during the week. Prtcos remain low and wholesale dealers report collections slow. Soma Im provement is noted ln tho bituminous coat situation, according to local dealers, but conditions aro far from being normal, demand being off. In tho anthracite Una trade continues In moderate volume, with expectations of larger sates In the near future ns a result of colder weather. The leather market Is firm, but sales aro In moderate arounts. The glazed kid market Is unsatisfactory. Sales aro small for domestic consumption nnd ex port business has been greatly affected, by Kuropean conditions. There Is n noticeable Increase In vol urn ft of business the last week Jn the building and contracting lines. Proposed improvements, which have been retarded by the general business depression the last six months, are now bolng taken np. Some havo been started and ethers will bo shortly. NOTES OF THE RAIL The Atchison, Topeka and Santa. Fa and IE ,other railroads were today or dered tq discontinue the present rates on lard Eubstltuta from Greenville, Tex., to points In Oklahoma, Arkansas, Lou isiana west of the Mississippi River and New Mexico for a period of two years from January 1 next. Tho rates were declared to be - unreasonable. Reason able ratos, based on a mileage scale, were designated by the commission. Two line rates for COO miles or less wero made 24 cents per 100 pounds higher than the scale suggested by the com mission. The railroads were ordered to file with the commission on or before January 1 a new rate schedule. The cost to 40 of the principal railroad systems In this country, operating 31S, ZS3 miles of track, for personal Injuries, for tho year ending June SO, 1911, was 29,996,017, While there Were fewer ac cidents, as compared with the previous year, the amount paid for personal In juries was greater by $3,593,179. The Pennsylvania Railroad Company paid for personal Injuries In tho yenr ending June 30, 1914, 1.098,:26, while tho Pennsyl vania JInes west of Pittsburgh paid J97C, 177, making a total for the system of 2,074.403. The New Haven has closed all of Ita principal car shops until January 4- Tho Philadelphia and Reading Railway Company has awarded a contract to Henry E. Raton for ft one-story extension tn the bollerhouse at the creosotlng plant at Port Reading. N. J. PENNA. BUYS DAYTON ROAD Probably Will Bo Merged With Cin cinnati and Northern, Announcement was made today that the Pennsylvania Western Lines had pur chased the entire capital stock of ths Dayton, Lebanon and Cincinnati Railway, which runs from Dayton to Lebanon, O, It Is expected that this road will be merged Into the Cincinnati, Lebanon and Northern Railroad, which Is one Of ths subsidiary lines of the Pennsylvania Railroad's Western Bystein. The Dayton, Lebanon and Cincinnati Railroad, tho entire capital stock of which has been purchased, was taken over in 1807 by the Dayton, Lebanon and Cincinnati Kail road and Terminal Company The latter now operates 30.2 miles of line between Dayton and Lebanon, O.. Includm branches, ,The company has 11.000,068 capital stock outstanding, aud has not been paying dividends. BEiqN EXCHANGE MARKET !v vrmlr. lc. 18. Tha Forala-B Ex. ce Market ruled easy, with dsaumd star e4 87M; blaa, 4.87 . francs. S-lBtjI-W; niarVs, 83, DISCOUNT BATES CUT The Federal Reserve Bantt of Boston. bat) lowered Its rediscount rate for SB days and under to S per cent . and for W days to IHi per cent, from 60 to 90 day the rate remains unchanged at 5 per eent. rte Federal Beaervo Bank of .New York to day lowered tta tedlsoount rata X 30 dan flSS HUM & &' T r" $ JJIVTDKNBS i K1I1GU ALI.EV KAILKOAIl COMfANS U8U"B xJafikdelBlila. December 1. liit Tha Boaril of Directors of tba 1-ablro, vaiisv Ralliea4 Comxtaay have this d da c&til fQWrtlVly dividend two asd - Sraxaila atoek to etockholdere of ii,,ri BeiiliiV . H.,i man.riyduG.od YfVT. ud one-half par oont (or II 43 par rt.,.) 6n Its ceauaH stock to i,i kaUidr ifreoerd Peoambar , Sllj twih pW iaaaary V. tyia- b mjlleJ- J- U CBea V ,. ulll BAXTIMV ANNUAL UBKTINaS TUB CHNTHAI. NAUONAl71Allt tir rattAuobratA. ABU1 UUo for Dtroetvra 1 u. . uat IH tat roo. uf action ttu susU ArtUta HI of ArttcUM A. so Ul lata aw miwh : i 1 of Ditoclore than twwi.1 ..." T r aaora tku M aetjs.t.4,,. 4truuua cy tlu H,il ,: 19 uj icapater Ai.t-iial !,-..- kk.id.rm Of tSift. Aftetitua.. ev jtovlleJ tor bola iot.v': ,.! yei ui , cttli4ua 0 rows , ulbfia Cb j rBth t. rJfci'iif rLlel VU ynaa i- as.-. sf vwviprsc.-uLa nobi Of Mtoi t . i ii x4j 4A.fcv-,M-f The Wyajh. BMkN 7f. I aa baaal tls8a I xf aderi