Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-27
LOCAL SECURITIES
SUFFER SETBACK,
SUPPORT EVIDENT
Pennsylvania Sells $4,000
600 Bon d 8-Drop in
Storage Battery, Cambria
Steel and Coal Shares.

The chief news OF local interest today
IN the financial district was the announce
ment that the Pennsylvania Railroad had
sold TO Kuhn, Loeb & Co. d9ON,OOO OF lts
consolidated and now first mortgage 4A
per cent. gold bonds, due August |, 1880,
THIS sale now closes the mortgage which
was made IN 1873 and limited to SlOO,OO0UVO,
The new bonds were quoted on the ourb
at lC3ih.
Aside from this and the announcement
OF the regular dividend ON Pennsylvania
stock, Philadelphia s attention was con-
centrated on the break in wall street
The local market reflected the decline
In New York this morning and most OF
the active leaders suffered recessions
ranging from a fraction to a point or
over In several Instances minimum
limits prevented more extensive breaks
notably in Rapid Transit, Union Trac-
ton and, OF course, United states steel
Cambria Steel fell points and at one
tmc Electric Battery got as low as 4Ils
compared with 49, last nights closing
price Later part OF this loss was re-
covered and support was evident through
out the list at the lower levels
with the problem of the United States
Steel dividend settled the financial dis
trict awaited with some anxiety the ac-
tioh of the PENNSYLVANIA Railroad board
of directors on the quarterly disburse,
ment This was announced shortly after
annum rate, and thereafter the local
market qulctei down and became steady.
The action of PENNSYLVANIA stock was
good. Comparatively little was Of
fercd and there seemed to be support OF
considerable magnitude around SO. on
the other hand Lehigh Valley and Read
ing We're weak and Lehsh Navigation
also suffered moderately. together with
Philadelphia Company, Lehish Valley
Transit preferred, York Railways pre-
ferrcd, Baldwin Locomotive preferred
and Philadelphia Electric.
An interesting bit of news was the
statement that the Kansas Natural Gas
Company, a subsidiary of the United
Gas Improvement Company. would ask
permission to increase its rates to con
sumers. The receivers state the company
cannot meet its obligations with the
present prices fixed by the city. United
Gas shares held very well today In view
of the general depression.
No sales OF International Smokelcss
Powder occurred, but the stock which sold
yesterday over the counter at "a was offer
cd down to 30. Bids ,or Du pont lnterna-
tional bonds at 97lA found none Offering.
I The directors are expected to act this
week in submitting the dissolution ques-
tion to stockholders. The vote to liqudate
cannot be taken without 30 days notice,
so II will not come UP at the annual meet
ing February .. 1t Is believed the Ii
quidating value of the stock will have to
be reached by appraisemcnt, The net as.
sets on December 81, 1913, were something
over 81 2000,00O The preferred stock calls
for 100000, leaving only sl,iO)OOO, for the
10000 shares of common or something
less than $40 a share But since that time
the assets have Increased and the value of
| the present contracts will have to be
taken into consideration