&wmuim?riwmvM winwiM ri''immljUmiil mJtWmjiim 1IW P 1 mm&Hmm)mmmimu EVENING EEDO-EE-PHILADELPHIA SATUEDAY, APRIL 24 1915; 15 1 SHARP UPWARD SPURT IN STOCKS AT CLOSE Steel Common Led on Report of Favorable Decision in Trust Suit. VEW YORK. April 24. Tho market tlM tot develop ony definite trend today until , few minutes beforo Hie close, when II laddenly became strong witch a Lugo iinount of buMnB orders vvoto put out. Throughout the morning Blocks cie It regutar, the standard list showing tnoil rate losies while some of the specialties made good gains There vvns n- diminution in the attendance In tommls llon house attendance todav Business, however was nnt as largo ns It has been United States Steel led In the tipvvnnl ipurt at the end of the session, show in . rain of more than two points, the re Julnder of the Hit, for the most pail, Siiowina suit The covering of nitons f. Steel was chletly reppnmUbl for Hi !? and rumors were cuirent that the 5,,l,lon H Hi tnial s,llt wmlU1 1"' '" ,h0 "an. g fanr Their uere also Minims that the S'eel Corporation vvmilil icielve tnrte European oldeis nerorts tl'it mi ns!e.3tneiit nf" .i per ,,nt would be eled on Mlssotill Pat lib caused a 6ll flcal of U'luldatlon In Hint liiue nnd at one time during the mom- hi the stock was a full point down. At he low level support was met, nnd the lock regained all Its larller trci nnd tfound up the dnv with a slight advance It was rcportod In the Slieet that In a i.ntativo outline of rem sanitation of the irmiertt it iu pioposed to give first pre ferred stock In exchange for .ollnter.il trust 4s and ihe convertible Cs and second ireferred stock for aBesment to be paid lv the present stockholders. Strength In the copper ginnp una due to the advance In the prlco of the metal It was pointed out the companies have it,, business and the enrnlngs, and that conditions for them should Imptovo light along. In Inspiration Copper, which was notably strong, It was said that the com Biny expects to begin operntlons In June Whn the company operates full It will U able to turn out at the rnte of 100, KO00O pounds annually, nt a cost or S cents a pound The company's bonds uere also strong 'American Locomotive gained 1 points and Its strength was attrlbutod to an nr tlde published by a Street news tiuteau drawing attention to the company s earn ings from the war orders It has received. In this artlrle It was pointed out that the net profits from war ordern are suf ficient to praetlcallv guarantee the t'lenn ng up of the floating debt This debt, n June 10. the end of the last fiscal vear. was J5.47t.O0O, made up of coupon peilal notes. Thli debt was Incuired hv the companv when It started the manufacture of automobiles, and these war orders are likely to enable It to retire the notes and assume the maintenance of the reRii lar 7 per cent dividend on the $25 000,000 .finfl elnnls That business Is cindunlly reviving 1 shown very conclusively In the weekly returns of bank clearings throughout the United States During the last week there was an Increase of JUS.Olo.UI ovei the corresponding week Inst .veni, nil of the large cities from which returns are received showing gHlns over last enr with the exception of two, Boston and Baltimore In the former the decrease was 3 4 per cent, and In the latter S.O per cent. Weekly trade reports, too, nro losy and It seems to be geneially agreed that the corner has heen turned A verv opti mistic tone Is struck by Uradstreet's this week, and here Is what they say. "Trarlo continues to expand. proBieos Is of a cu mulative character and even conrcdedly slow lines are evIncliiR a moie Uvel.v dis position In fact, tho general situation, trade and Industrial, seems to he moving Into new and higher ground. Faith In tho future Is more firmly rooted, and leports as to growing crops arc flattering. South ern cotton growers aro not so strong on raising less cotton; foreigners nro buying new crop wheat freely , collections nro better: seasonable weather stimulates trade, wholesale, Jobbing and letnll; ac tivity In tho stock market continues, al though It Is marked by reactions In some of the so-called war order leadeis." New York Bond Sales High IV .. IMl, ..nui; :: Sr .. !'7'i , . Ml', . (in Lew. Clo3e ilS A5,ch'Bon cv 4s 10W. iSSn BiU 0hl JOGO do cv 4Vs . .. .00O Hit & osn .His . "gX2thl-iMl rH r. . IJoOBrookUn Rap Tr 4a MOJO do 6 wis , inffi? 5u,h .Tr'n B"g 500 Ont Pn i.. j JO' I t.w in UOl, no 87', S'liJ 47 II7' HJ'I ISTS Mil, ill lai IHH, S7 inn, mi; 47 !I7', "31, SS2f! S!1" & Ohio 4'ts R n-,., S7'i imii 0(1. -;r " oflujr orn r ffl ! ronv 4n Fer A RX I! rw nui; 27tl limi 27W nni, 71! 41 ll'li, 771, t.S , ffi J C.ntral rfd 4s . JX99 III Cent 4s ins" K7 M 1.17', llllj 7S 0 4T (111. t . KIAVHI T-. r - .." ' W . i" '-"B cv 05 '. WS ,1.')' "'. 5SX ,.". Ki rf. al P" "10 J1 'SSS in rb Met Ji4s ...TRtl 9 inooS',"T,."' !? ?!'.' WO l4 Alrohol B"?: SJ Japaneje 1st 4'is. ffl Clt So 1st 3s JS i: -"sto aiiurs nttix imn -. w i tnKa ; s: 4 aiv, iiuj. iyfn'T .aft n:i; M2ti loovi Kin'J inl u a ww Lir s j T IV) Mm Pet fs fHItfl riH n. . . ,H SS2 M? JX!n. Ter 4s. W do 2d 4s 2?Wn Pac 4s ; . . SL lo cv 5 7ls, Tlili :: ' iii, T (10 47 41j US 110 (12 sH inn, nui imii, X4 7H Mil f 7.1'i 6U 4rt'i 411, KJ do cons fls . ... MMont Povtcr (Is .. 110 mov , i2 ni . ski; sU! jriii liinl CHf ,nil m. !'"' w do au, J5S5J? V City 41,s 11)14" ' nit, vnit inrti? lf)i si 1 72t, .JS?!J VN H & II 3'6s '54 US n noon do aril s m,t 7214 7ivvi :. ... '-? M ffi5T.T:J,u;- ltxnli innu mm mi! nru n7U !S v V 1? & n -H 7K Tk 10.'. m 104H 121H nv4 PSIJ T1 Rn si R114 P7V H 101 RSI, Cli? lMVi a i i.i nt B4'4 Pi4 nsij 71 lil M naw i'7!i 1011 Ml! lis UOfill .1- -- w ' "J tt?l"'e Shoit L 4s ! . . M ni .inn, .121 . ni nsvj . 71 SO an Ml, 1lJ R7'i iwCS ""! f T 4t,s . . . 5.rircrinR.'io dSffifiS-f w F (MA nr. J?'"5 ' IVogSV' 4. CVS1 i L I JM , Bo 4s -.i" vc island s iffi r-S ? t;a" "i ' "f''i " oni4 I- titffiChJ-D & Q Joint .. mi'4 n'5 iv, !- JiSJ? !o sen 4a n2 oil Dial toco pis sscjr rnrn fis . . n-'i.. k, r" fit 6!Hi II JEouth paclflo 4s svt AvK ".? " . R1 7--J7 o cv ret t n -Sa irwi inili iZXS qo rtel 4s : 31K D d0 Term Bs siii 7i; som Thi.jv ". . " ! mvwi w.4 . " e 3 ... : i0 7bl,T1nA ,di T8V? "R11 7SV4 b'J IO' lO-'l 105 w . to cv 4s XT' H1 01 tiom V? A?5, S P 4h .?UbC.VhC4h.em1"5' KO ni l5 SrtV, 100 1WW) do 1.1 V. KX; ?9 let Bs .100H F000uit,R?f: "I,tW. compared with J2.2B7.- i'V, il'Vi rnTTnikT CTiirn,Tie Mli ,uthtte position of cotton Is as fol- Bfufbi auBiv yx; H,?;)i i.?i. &rJ?.ARn5i WTiVto Sim:: kABrn n " MlWJlUl r" 21 H 83D.1S3 13,422 gil 13 713.4W Other Financial News nn ;i4 Page 14 New York Stock Sates 11.. .... taal close. Illli Low Close. a "!,0P''J Mines .... 30'f 39H 3 3flM Allli-Chilm Mfg pf ... a 0i!f pi r.l) Ama tamated Cop 771 78i 77 7WJ ;?SSltM I7JI 485, 47!, IS AmllraKoSAF pf ...no 111 14014 141 An I5M .iRH i6 S8 ArnC.1 A i-on,jry ... fi(,f w! ;( C-, j Am Hhlo A Either p. iwt io a5 3c' AmicoSeciitllel ;.3t .UU 3iW 331 Amt.inwed Pi( i2)j ipj 12 f' tewito fii, CSM Cl'( f8 Am Atalt V mi nn (,U AmJ'alt P( aoW 39! -Mi SO" Am smelts, rw 7i f,, 7.i fll Am.M,ieil.n(.ff...,U)r( in,) io.VI MM rVtlant erm.i r i .... , ,.-, mn II JaldnlnLoco e, ;!, flj ."id's altlmonAohlo 7B 77, 7S Jjalllnioro A Ohio pf ... 71!f 72 72 J atffllis -Mining lh Hi m 1'. e li "hem Sleel 1 135 145 114'i 11"' ethlehcm Sieel pf Mb lll! 110! lll'i llrookljn Hip Transit.. 01M M'i 1 m tal Petroleum 17, 1S5, I7J IS'j Canadian l'aclfle lOOM 1C9W 10!) lG0i -ent Uathcr io'i llh 40' dl'i Cent Either pf I03if IO-tU 103H 103U Chrs&Ohlo 171, ,,g, 47f 4Sh thlno Copper 47 4i'i ID' 47', Chlcaco A, Alton u 0 s'i S't ClilragoUtWcjt 13 13' 1.1 1:1 Chicago 01 Wcitpf 3ft 3-1't 31 Chi A, Northwest 130 130 13U' 130' Chli'Mll&Mi' 0ft QiH l"ft l' ChlHI&l' a.' 2J 21's 21J Colorado reel & I ;." .U'-j .'tl's :-)!t tonllnrntalCan 01 01 01 01 Consolidated (lai 127M 1J7IS U7h 127' a Corn Products Iter m 11 4 II M'l Corn I'roil Kef pf 77'j 7S 78 78 Cuban-Am Sugar 01 02 OJ 02 Den A. Illo (irando h'( S S S Distillers' fcccuritiM .... 104 11M WH 11 Erlo 28'4 29 2SU 28'J Erlolstpf 41b ll'f 43U M't Erle2dpf 3D 37 37 37 PcdMIn A.Sm 13 13 13 1.1 TedMlnASmpf 32 33) 32 33 General Electric 1GJM 152Ji 152H 162 Oeneral Motors 1IU1 II lis 114 111 tioodrlch B F Co 47W 17a 474 17i Croat Northern pf 12()!i 121 120j 121 (.1 N cfs for ore prop.... 37'f .1SH 37H 3SH (iiiscenhelm Exp'n 01'J bll'j 0t' li34 Jlllnots Cent 112h 1114 1114 1U lilt lliirv Corp 70 7,1 75 7.1 Inter Met 20J 22 20U 20JJ Inl.rMetpf 72), 72h C0J 70 InternitlonallMporpf .. ItU lOh 411 40' j IntMiMin Pump 10) lOh 7 1 Int Meant l'uinppf 22 23JS 214 21' lnsplrallon Copper 3IU 3o 3i 34'i Julius Kaj.wr A. Co 87 h7, S7'i 87', KanCltyfcoutheru 23 JO 2o! 2.5'f Lacleilafias 1UIM 10US 101 101 Laku Erlo A West pf . . 23Ji 22 21 W 22 Lehigh Valley 113!t 1I3' 143!j llih Liggett A. Mjers 231 227 227 227 LoulA?v.i!,livltle 12I,'i 124!i 12IU 1214 Manhattan blilrt OS OS 07Ju lS Mamcll Molars IS 4S 47!s IS Maxell Motors 1st pf. 82U J t.2 bJ M.U Motors 2d pf .... 37?i 3S .17 ..8 SllnnA.bt Louis 17), 10'i UVi Wi Mejii'.in Petioleum ... 1)1 III! DU4 V'tH Meilcan Petroleum pf . UD 93 00 03 Mo Kan As To.wj UJi 12 10'i 12 Mo Kan ATexaj pf... 2S 30 2S 3U Missouri Pacific 134 II 12)5 l.. Miami Copper 20)f 2sH 20M -8 Monlniia I'oner !",." ftl)i ."I ftll4 Nat Cloak A Suit pf . 10 , 101 105'i 10J ;t l. ad t,4H '4'i (i4 til Nat Lead pf 110 10'J)i 10UJ' 109' e ork AlrHrako .. S7J4 8J bS 8b Nevada Con Copper ... 1ft lftif lft)S lft'i MMU1I Ii7'j OS'i Ii7)j OS'j New York Central bJ b ij, 80 S)' NOAWcst 30.U oO'j 30 304 Northern Pacific 110U 110i 109.4 HO'j North America 70 77Ji (( 77'i Pacific Mall 19 10: Ill's 104 Ptmisvlvanli It K ....1104 HO'i 110 110s People's Oas Chi 120 120'f 120 120i l'ltlsburgh Coal 2.J1,' 2.i', 2.1 2Ji( l'lttsbiirgh Coil pf .... 04 Hl'j 91 915, Pl.orillatdCo 17.". 17ft 17ft 17ft' l'reul bteol Car 4b,4 19 4S 49 1'ubbCorpNJ llOi 110)5 1104 110)5 It bbel bprlns 324 324 .124 324 Hav Con Copper 21'i 2ft4 24 M 2IJI Kcadlng lftJ'i lftl'i lftl'i lftl's JteplronA.Stec.1 2Si 2!DS 284 29.'. Hep Iroa A-Steel pf ... bO tO b54 bit Hock Island pf ?i M "i ii ltumelyM Co I 4 Wi 3H llumelyMCopf Oli 0 9 0 beaboard AlrLlno pf .. 40 11 404 11 bears ltou A. Co 139 139 139 139 -loss-bhefbAtlCo .... 37U J7)j 37Ji 37Ji bt Louis ASK ft4 ft G ft SlLASl'ran2dpf .... 7 0 U 0 fcouthcrn Pacific OJ 9J3i 02JJ 034 bouthemHy lb)s lbj, lb)S lbJs boulherallypf 584 &34 ft74 f.8 btudcbakerCo Oil 00H 05H GOSi btudebaker Co pf 100'i 100 9j L0)i '1 enncsaeo Cop 33j 31 .'13) 3.1J '1 cd A, Paclflo IMS 10 10 10 Tobaao Prod pf 109 1004 100 100 'IhlrdAvenuo oft .i34 oft o5 LulonPaciflc 131! M2J, 1314 1J2.J Union Pacific pf bl bl M)!f bU)l U b L'ndi Alchol it, 10 3S 'M U b Undl Alchol pf .... 824 S14 814 844 United H)! Invent .... 174 18 17'i 18 Lnltedltxlnvpf .... 3ft)j 37' JiDf 17H lsnedA.ltef 1-t Hi 1)5 V b lltil A Hot pf ft Mi ft ft L'bltubbcr 0Si OOlf 0S)i C9)J Ubbteel 57 604 fi04 S9)a Ubbtect Pf lOSJi 109)j 109 1004' Utah Copin-r 7d)a 72 00)1 72 Wabashpf 3)5 3)5 J)J 3)J Wutern Union Tel ... Oh b8 08 Os Wcstlnghouso Electric . M)5 b7 S3 SOU Western Maryland .... 214 21' 2l 2IJf Willis Overland HUH US' 118J. llJ, WillvsOvirlandpf ...-1014 100X 100)1 1U0), WoomortbKUCo ....10.',' 1074 1074 1U7H W'oolworthpl US 119 111) 110 Total salts. 460 5C0 sturn. compared with 6TD.700 shares last Saturday, this weeK, 5.70U,. POO sharss. last week, 6,11(7.600 shares. TUNING STOCK QUOTATIONS TO.SOPAH HTOGJiK. nM. AV(.rt Jim ButUr 1 W JlanXamara J "A Midway . .. , H 'JJ Mlipali Intension ; JO Mon-am J " Norlliern Sinr V Tonopah lUlinont ; ' l Tonopah Extension i 3m a"if lonipan Mfrfr 41 Tonopob Mining: 7. Vj Itrscue Evila West En4 -w ,!,J GOLUPlPW STOCKS. Attant.i 42 .13 Illue Hull ' 'gj Hooih 51 ?.r lul8 ' :::::.;::;.".":::..:::: .8 cmrblnatlon rrae(on .11 .15 DUinonJBeW n P ?.- SJ I..I.V ....... .("i oi OoMflHJ ConsoiWated ".'..'. '.'.'.','..'. lVs l, fJoldtleld Men;r . i- jjll Jumbo Bxtnlon , Ksvvanas i? J"j ..''I .10 4S Oro ..- Ssn4 hen bllvtr TUK 11 .011 .11 MISCBLLANEOt-'g. falrv Ailo 't Nevada Bf 111 .'li .Nevada Wonder .01 .27 1.30 "" JIJUII , JQft JQJ JfJ H)l AmlelATel 121'1 122 1211 12.5 -tmlobacco jjj 015 aun 213'1 'vn!vvbPfftew 100 1001S 100H WtVi Am Woolen a,ui ;!0 3D 3D 'JndaCoppet 37X 3S 37' i :i8' Auh.' i',;' lOJ'j IOU11 I0Ji mi 1 NEW YORK CUim Bid. AKd Ifftt.'h.Am'.r" Totaeco old' V.V.'.'.V.'.' Uv! llg Gold Cons ,JJJ -J7; Grno Con '" 5iU 3 8 ifv CI SalM " Nlrllne 7 T3 OlU BIvator 01 V3 dO pTtt "J, "?. nir.Htrmn $ BtsxIlBB Bum A ,' 5vib Products) X " "Hte0 S'r ? ...::::::;::;:;;i lso VuVoa Gold j DIVIDENDS DECLARED r.irard Avaaue Till an T"1' c.,loH8By. rsaffir .dlnnual"'. per c.nt . pmbuS Uy 1. to stock at record AMU S BRISK BUYING OF BALDWIN SHARES Tonopnh Belmont nnd Keystone Telephone Securities in De mand Investors in Evidence. I'nldvvln LwMttntlvp Rli.tron ttinilnunl I" climb into iipvv hlgli lerrliorv for lit" present movcitirnt on Uic l'lillBttelpllIn Stock Uvcliango toda.v following a similar rise In Wnll stroot. PosliUo denials of war order funimo bj olllclnls of Iho com pany failed to cheek the demand for Hip stock, which crossed 53 shortly nfler tlto opening, compared with Friday's closf of fio',, n required LotnpnrtttUely untall purchases lo CEtAbllsh the atlvntice show Ins Ihe stock to bo still Very ctnMly held nt given quotatlolia. Another strong spot was Keystone Tele phone, which moved u ncross lo. Phila delphia Ulectilc, too, vvris firm amt there ns n good demand for Tonopnh Helmont. Itcient liquidation In the latter iiiqifaia to have been completed At all events, the price rallied easll this morning, ex tending vesterttny afternoon's gMn a stih stantinl fradlon furthor. over .Uuo .shares changed hands tluilnjf tin- nrst limn alone The d-u s lotnl sales of this Issue aggregated nenrl.v Wrt) shuns. Oddly enough, L'nitetl Stntia Steel, usually ono of the lotnl mat hot lenders, tomalnod almost stasnant Tor a tlmo Not a single htinilied-sltnre lot nppeat'Od on the tape Irom 10 to 11 o'cloelt, but In the cioitd hour bilsk bii'lnH de veloped, nnd the prltr rose steftdtl.x, In vestors vvero plikiun up Pennsylvania and t'nlted Oas Impn veinrnt In modemto nmiiiiiits, but Rupirt Transit ruled henvj. The bond division was moie uctive than usual for a KhIUkIio essiiin, and prlu luled llrm One reason for tlw pleklnp tip of United (Jos shares was the nntuwl pant phlot report. Issued thl inoinlns. Heal l2ntlou that the (.ompanj made a (.ash prnllt of J-MTJ.Sl.' through the s.ilc of su curitioa was n factor, and emphasised tho evtenslve equities, which oMst ln tho propei ties enirlcd In tho balnnoo aheet. This nlono apparently gives a valuation of about J77 n Rhine to C O 1 , nnd, of course, tltn llquldatltiK nltio would bo mm.h greater. Tim stitplus Income after dividends, etc.. was flll,4n.1 more thntt tho ptcvlous j oar. Tho lepoit of itnj s-.tles In the 'Mty Tor the March quarter showed that 2,581,!)3J, I0 ruble feet vvero sold. The ninount of money colloeted was 2.Glfl, 10.', and the Utv's sliaic under the leaso was ?.J J01, compaied vvlth $533,317 In the i nrreopemd Ing period last year. NEW YORK RANK STATEMENT Dip Incicasc in Kchorvos Reported. Lo.ii)3 Expand. M:v VOltK. .Vprll Si -Tin icscrves of the Clearlni; House banks shovvod a heavy in (.reuse for Ihu ui.k endod totlsv tho u.iln he- Ins moro Hum 51'J.OOU.OLHJ, both ln tho nveraico an,j mcuai nRorcx .vctuai loans expanueel S10 .S.'1.0C0. vvhllo deposits also shovvod a itt-iivy cnlii Total bwns ere $i!,BS3.6t,0.0CO vvlth ,le lnand deposits or S! S0il.&:i0,0nii and time de posits of $122,4U4,IM The mrcreeato reservo vvns J5H7.1M.O0O. cicarlne House members VverORe. Loans Increase SI.7QIIXH Ueposlts Inercnso P.Wt.Oon Time tlepo'tt5--lni.reaso .'.kii.uoii Iteierve-ln, ruiee liMEF .'31 Clcarlns Ifouwo members Ailiml I.nnnn Inereiise $10 ilM.oun Deposits -In. re.n.e U.isiliist Time depnslii" iBcrrnsH S.WW 0(ki Ueserve Imreaen 12,077.oriO RANK CLEARINGS LARGER Volume for Week 8141),00'.),114 Above Last Year. An liiorease e' Jlinnnn.lll In the tnliinip of clearings thrnuch all the feMltnr It"iue "f the I'nltcd states offcurred ihirliiB Uie lnei week, tho iictuul rlesrlnps for (he vvee'i lielnu SI.UI.4ii3.tiiT. SBOlnst 1..T?I,WI,".(U In lie STtne week last vear. Ilnltnnore and Poslon were the onl) ( 11 lee In nhhli the iIihiIiisu were not larger Tho Inrirest uttln mis, made hv New York, with New Orleina secvind. De tails iniiovv . .,. ii' 1 1 llll I. P c Now York 51 7Sn.P12.27(l Jl.njtl MKl'M I -t 7. 1 uostnn Philadelphia, fnltlmoio ... Chleasn Ft lMllli.. New Orleans. 12!. W7 IITI 120.11 IS Ml? - '14 12II.7V.' im 27 20 ,12 1. KH.I - SO SHI.IlTd (ISO O '1 nT.n7.ta2 1 i-ss in.tiinsoi ii.7 i:,n.2.lni. i Si! list). 127 Sil',ni) nil r.D.nin.7M IS.OVI 711 PneBdiVr S2.I1.'I..MH.(1M S2.2P2.0SSP02 T.-..1 i!veer gJtVr-.. M5.Ol5.liTB JMW .; Tn',ae' da1-a"Ck002,17d.7.1O 2.StSMl.aMI -r M Adaylt!"'.0ne ll aOfMT MM. L? TrLr'""e'k'."''i3..i2..,I.Vl,n7T WMIJDI.WB ' Local Reserve Hank Stalemcnl ffiaft'Sar"- day conip.in-3 i, ,. ... -ItUSOUIlCKS. APU123. April 10. Gold iota and Bold rn;sni0,li2M5n.103lwU Legal tender notes, sliver ccrllflcates and subsldl arv loin . ... TtedUcoiinu and loans... JnvcBtmenie Uuc ftom rederul reservo Imn1j9 not 4, 172.0V. l.lHlT.RSi 2.107.12.') 421.171 l.oii.i.rdO 2, laii.n.iu 2!("I7,12.1 kirn, ran .1il7,MP All other resources Total ... S2J.iK2.SI2 $21,121,712 LlAMUTrEB. -,ilti,l i.ilrt In.. .. SI.IVMM l,liV"a .. 20,401,200 11,P0.1..'IT J2r.il22.si2 2U2 1.712 Pf posits Total DANK CLKAItlNCJS Hank clearlnSB tmfi) mmprtre vdtli iorie- sronains day i,s- ,-..., Hasten ... .fU.SIS.'Hl $27.02ti.77l 2I.K'o G2o Hhlladelphla. 23 ano.THI 2a.HlMlW 2.1. 1 1 7, 211.1 New York . . .IST.S31. 1 :b.T.4T0 aoi.0.1.1,523 KATES FOU .MONEY Call. Time, Philadelphia - JJjjH. 8Sfi L New York lvixi rM''! Doston &,.. ' 2. commercial paper, three to six months, I'hlla. delrhU, 3itt)3i per tent Ueserve Banks' Discount Kates to dSM. .. 4 i Over It) iver I 04 y "nt; v- Now York Boston . . , 6hlladlnhi Cleveland , Hlchniond Atlanta . . . Wilcac n . . . 3 is ft A a s a M. trills 'Minneapolis i ::::;:: sco 4 15 Kansas City IHUSI tan i'ranrttco GOVERNJIENT HONDS ntd Ask. pa ?a nt 101O reclstere.1 .... 1 tl 1IOO ruunon OSti Panama 2a registered PS Punama new 3s reclstered .. . 0JW tou; m ,1s of IU8 resUlered 1 .'aniiiM- i,v "o luuuun ....... ,i 3s of I'dk (oupon 4s of l'"2S resletefsd is of l'l25 coupon .. . . no tiovi COTTON SHtV YOIIK. At rll 21 I'otton oDtnod sleadv this morninir, 3 to I points alwve last night's close, and quickly -idvaiu-tid lo H ost sain of H points for the active months. Tlw re was a scarcity of offtrliiBu. and but llttl buying power was required to brlnsr atvujt the up ward novsnunt Tho South and Wall street bought and there was some foreign buvlns o October. sa. Open- cloM. Ins. lllih Low Close May . toau 10.30 lo.Jn 10 21 I O.J I July . ... 1" SI 10..M 1(157 10 47 10 40 rv-tober 10.SO logs in.s in id Hi SI IWcenUxr tOOT 11.00 II n3 10.D2 10 Ua Jsnuary 10 2T 1l not 10B.1 1100 March . 1 2j 11.14 1115 1114 1115 Spot 10-O low DIVIDENDS TUB CIKAItD NATIONAL HANK Philadelphia. April 30. 1VIS. The, Directors have this day dsclarsd a dividend of eight per cent. (8). fra or tax, payable Hay 1, 1913, to Stockholders of record at the close of bualoess April 23, 1813. Chl.k will be mailed. CUABLfiS U. AEHTON. ' Cubjar, FINANCIAL BRIEFS New York banks lost 25000 lo the Sub Irensury yesterday W. . aaiOncr, prfldfnt of the Chlrago nnd N'orlhwestrrii. snvs: Chicago, St. 1'aul, Mlfilipabolls and Omaha will be In tllo market for equipment ln the near fiMtire T?ii CnrnoBlu Rtnnl fonipany Is operat ing Us Parrrll vvnrks nt ttboul 6" lo 70 per rent of rnpncUv tills week This In tlto lowest per icnt of opprntlon nt Hie plant for amoral kpIm. Tue Mast furnaces) are running vvhilo one li Idle, the skelji mill Is down ami .seven of the 12 open hcnrili fiirnfiee nrr nperntlne. Commnrrlil failures this week In the United atntrs were 459, (IBtUttst 501 last vieeU, and 'M Inst vear. Liabilities thus for for April ore $3B,1S0,Mfi, compared vvlth $18, 11,1)13 Inst venr. ThP eitrtent pronts of tne Corn Products npflninff rompnnv for the quarter endlnrr Mnrh .11 nor $t.llw,!KS. an Increase of n?J.5fl nnlnnre nfler payment of re pairs and ivldend win H31.SP3, nn In rrease of M,W. Tin (imptiollnr of tlto rurrency re port that the 782 nntlonnl banks of I'enn svlvanln those In I'hllndelpliln nnd t'ltts b'urffh ellmlnatixl, on Mnieh 1, 10115, tho dnte of the lnl rail fol rondltloii, bad loam and dls.-otinla of 37n,075 tl. nttalnst WTiJI.t'ifl on Ileeembei HI, 1911, domnml fleponlts. J3S3,tC.3.-nfl. against 32J.S21.501; time deposits, i:B,J38.SJ3. mjalnst 1T(5.732, "77 per rent, ot IpriiI reserve. 21 01. nngtnst ro.Ro. A New York Coffee Cxclinnrje seat sold for I'M, up .V over the lost previous tinn'nrtlnn. The Tiea'-urv deficit H sW.JT.ST0 roi the flrinl vear, rscluslve of ptibllr dpht and Panama Tonal transactions. Inquiries by Chandler Brothers & Co is to posslblo sales of American securi ties hv KtiRllsh holders now lltat price have scored siteli notable advances ro retvpd the follow Itir; lepl "Wo lite ot opinion that vvltli rising prices gradually n fair amount of stock will come upon the market, but wo doubt whether the amount of audi stock Is bit: enough to itinke n derided Impression upon the ten tlenoy of your market, 1'eople over hero who have Invented in Anmricnn stocks and securities are nware that American cnterpilses must benellt during the war, whereas lJuropenn enterprises will suffer, nnd they will therefore no doubt not dlsposp of the Investments at prleo, which mean n rutting of loss and sureh not bcfoie pi Ices have reached the level which tempts them to sell even In view of the above mentioned 1 liances of Ameri can enterprise " The United Gas Improvement Company 33d Annual Report FOR FISCAL YEAR ENDED DECEMBER 31st, 1914 To (Ac Stockholders oi THE UNITED GAS IMPROVEMENT COMPANY: For tho fiscal year emlcd December 31, 10M, the sales of tho gas and electric properties in which we are interested show, in comparison with 101J5: City of Philadelphia 1.00 per cent, increase. Properties outside of Philadelphia: lUanufaetiucd Gas (5.03 per cent, increase. Electric G-00 Pcr ccnt- increase. Natural Gas S.l'.S per ccnt. decrease. The Not Profits, as- shown in detail in the Treasurer's statement which follows, were ?7,80C, 100.10. Of this amount S'',172,812.:i8 was deriicd from the sale of securities roferrcd to in last year's report, so that the Net Profits from regular sources exceeded Sinking Fund requirements and the regular eight (8) per cent. Dividend by $182,051.72. Tho falling olT in Not Profits, from lcgular sources, was due to the continued shrinkage of returns from our investments in natural gas pipe lines and distributinjr Companies in the States of Missouri and Kansas, and to tho high prices for gas oil which prevailed until late in tho autumn. 1 TREASURER'S STATEMENT Profit and Loss Account for Fiscal Year Ended December 31, 1914 EARNINGS ' From Leased Works and from Investments Tn Stocks and Bonds 6,633,822.57 From Sale of Securities 2,172,812.38 From Interest .0,1-0.1.. From Salo of Stoteroom Material G.602.96 From Rental of Broad and Tnskor Streets Oflico L600'00 From Rental of Offlces in Building, Broad antl Arch Streets, to Companies in which this Company is a shareholder... 44,187.04 Total Earnings 0,084,543,07 EXPENSES Laboifttory ;2o2r Department of Tests ie,J-'i,08 Registration of Stock 1,500.00 Cost of Restaurant, Bioad nnt! Arch Streets, over Receipts for Meals 12,513.00 Rontnl of Safo Deposit Boxes , 2,020.00 Construction Department Storeroom 3,314.77 Litigation, Retainers, Lawyers' Fees, etc 21,143.25 nnnrnHnrr Telephone Service 4,243.40 Dues tP Trade Organizations 1,077.00 Advertising in Trade Journals. 2,275.77 Special Advertising 5,506.11 Ofllce Furniture 6,006,30 Cost of Operating Building, Broad and Arch Sticets 63,425.55 Salaries and Traveling Expenses , . . , 478,101.67 Qfflco Supplies ,,,,Miiiii.i mi 1 14,r7.70 General Expenses , 31.59P.72 Taxes, State and Federal 123,983.11 Insuranco, Taxes and Maintenance of Broad and Tasker Streets Qfllce ,.,,.., , SQ9.96 Construction Contracts . .......i .i... 60,650,57 11 ' '. Total Expenses ... .....i ,,..,!,.. ,., ... 1,188,143,57 t Net Profits for Year 1914. ,,,,.... , , . . , , , , , , , .,,,.,,.., , . ?7.896,4Q0,16 Dividends Paid in 1914; January 15th .t,n.jt?ttsj.i $1,110,059.00 ' April 15th ... huh urn ts.iii i 1,110,059.00 July 15th i,Miitiiitiii.iiiiintiii l,110,0o9.00 October 15th ,,..,.,.n. .,, .!., 1,110,059.00 Sinking Funds created during year 1908 to retire investment in Philadelphia Gas Works , Balance to Undivided Profit Account.... The nnnual meeting or the Pennsyl vania Steel Company will bo held on May 10. Five directors will be elected The annual pamphlet report of the Vlo tor Talklnr; Machine Company shows that In the sear ended December .11. lfH, the cnmpnnv made remarkable strides In expanding Its business and inrteaslng Its earning" The undivided profits or total surplus nt the end of the year were S92,4ls, nn Increase of 1.W4 131 over December ,11. 191.1. The rompnnv's cash on hand nt Iho cloe of last year nmotinted to $3,113,21, a gain of 2,301,113. Thoso Increases were mad" In fare of the fart that In 1P14 the company paid divi dends on tho common stock nsgfcgalinh 3." per cent., ngaihst 0 per cent, paid ln 1D1.1 The gross eamliieg ef 3fl railroads for the second week of April were N.GTT.fiM, deereop SI, 1(59.831 Hlds will be received until April 27 V5 Hnddonfleld, N. J , for I7.W B per cent paving bond, until April 2!" by Wlldwood. N. ,T for J'.n.rAO g pre rent funding bonds, and until . 3 hv Perth Ambov, N ,t . for lEO.fJon m-venr lla-ht, heat and power plant, and $II,n 20-venr lire 4'i per cent bonds On Mn 4 public offering nt ouc tlnn will be mnde hv Hauerstown, Md , of oO.OOO 4'i per rent park bonds In this column vesterdnv It was Iliad vcrtentlv stnted that the nuarnntep Trust Companv ntnek vvns quoted px-dlvldend NEW YOIIK COFFEE .MAItKKT NTH' VOIIK, Vprll 21. Trndlnir was nrllve nn the t'iffee Prlime tndnv Al the npen Itlff the mnrket vvnn etendt with futures off 2 tn I points cinslns (laures ebewed de. lines nf I in points, t'rlrej rnllovv 1A j 4 I tPrtJltt M VSS ! It U iiiiii n iT'Mn ci us 11 m r onenlns ( loee ( Ioh. 7 vo 7 ne? 7 ilf7 s nin.iiiin ', .Jul 'in 11 miijii n; NEW YORK HUTTER AND EGGS Ntrv YOIIK. April 21 DITTEIH Market Aim lecelpts, Hops packnires Extra 2nt.c. hlirher c,nrtn. Sftffnoigc. , State dTlrv, 2S'-j?l 20r Imltnilnn ireamerv. 21i722o. nrtUH Market Irreftiilnr receipts. 21 n1 pmkncen tlxtrn llrsle letiulsr parked. 227 i'2Vji.. mixed mlnr .'Ii2lli etolnse nll'-ked. 22I-W221,. . LIVE STOCK QUOTATIONS 4,440,236.00 801,300.00 5,241,536.00 2,654,864.10 $7,896,4.00.10 linv nine ... !.iiiii .,,,,,,n,n, n imi . , , Julv 'T2i 7 atfl I ji 7205711 Ainrnst . . i f.liflil iljfl'" September 7 4.JBT 4f 7 42'itj4l i iiSl i? ()enber . 7 llf 7 W 7 4f 1 4 T.Mf 7 II Nnvemlur 7 llfif 10 7 MflT 11 7 VI17 m tiecenhei . 7 nog 7 at 7.0tUT7 01 7 0.11 7 mi tnnuirv 7 H.11J t.OS 7 (17 A 7 (W 7 71 H , 72 Pebrmrj 7 7'm7.so 7,7lf7.il -nil. IOIHI .nirp, !,.,,, mRP. i lUCAClo Vnrll Jl Itoits-lleeelnls 7non ninrkei ue.ik. mix. d nnd butiliers $7 21177 70 ennd lienvv 7ir'i7(vi rnunh beiv v ,n 1 1 llcht J7 ie-'f7.72, idm $1 HID 7, bulk . 4(Ki 7 i,0 C VTTt.i: nrrelpts. Inn ninrket eirndv beeves $0 lnflS 70 uie md belter- S lij I.V) Tevnn Ki infril vo rnl" 00 HIIL1.1' lie, elpi. Mm nuw" nteartv native nnd vlestern 7 -,0(? v. limbs . lOffto 0. Sales in Philadelphia Yee close II lab. '-on W Close :ioH IOC. 100 M'i ) 4711 211J .121, 2S 17 11 1,0 72W jfl 10 i-iV 7S 21 77 'IVi & 4Ut Oij .100 2uo 20 '?' rain 2117 to :.D in co Hi .'M Kin ;n 4UI1 t r.o 111 111) in I'.'i 217 2nq 1 (1073 nti o 1011 Amnl Copper 7S11 77t4 iii nn Am Cns American Loco Am rtw pref lUldnin Lorn Cstnbrla Siei Chine Copper io.is 160 50 4ai4 Man !(! 'Wi JP-'i 01 .Oi4 ino 1(10 ,iiv4 .VI "!i at 1; .iji, 2s; 27 Un 1)11 ir ST" 40 24 1 12 ,12'i 4' I7' 211, wit 2S 07 i". H'i b ir St'1 40 24 1 2l"i 1 ni li 1 a r Ulrrtrlr Pierage 12'4 l.rte i!MV. Oen Aephslt . In pref Kev stone Tele 2 . tin .Nev no 1 ret r min vorp is" vdiiey. rone o IC A T renna It I 5314 nt 1 rnnn m I'hlla Co Mfe I'hiii i:iec .... stti nuia it r tr cf lot, i-inia i rnr . ix bus Trar lay Cons leading Pon Mel ... 214 ;: Ti Ton flin In Trac I (I I t'n cos N j j: f Pteel.. 11 est Cle ..t.VId tft-lft ... )i's av V. -:'1 (II. Silk 2) 222U Zli't m in, mi P't i ar t (f, .9 , pij IJONTMt. , last .dos. Iliah !. Ain (I & E .is ,Vi. SRI, wi. CI""- tl tviti tK"4 1021.) . a 10l, Jll 1 on, or. 10KI IKM VlOf) 4IIMI Klll ill 1701X1 VlcO I40O l.KX) PfKl Tntsl 1 MM shafts, larwood n rts. nTti fi Pi - ,N eons 4vts noi nsn, WH . ,wn hid i mi pot, p'iv, 1 v Tr 1st rl 103i 102n, lrrji Mflrhet Si El 4 frji. Wil nl.; I enns 4t, 'no, tniS iaiv imij Phils tnicnsSsKOU lil Sit? Phlln filer Is T0, i" ?W 1,1'"" . J"'1 'M't 1111 Heid Kn l nil, 114'. Pl' .r,"J' J".0 , hnrcs minpared lnres v.-,ter.lnv thl tinek. 1 lii uetk. 1 te, mil ehar. with Local Did and Asked , Toda Ycsterd lil.l Asked. Hid AeKeu ..I ",", lu'ii .1.' I'd l"J KM n i!."f i1" 4.1's ni . ,21, .1.1 .v v. 11(1 lulu . .,, In pref Camhiln St. el I.Ih, Ht,riiRn .. Sen Vpbult d nr K i-lnne Tel , , do t 1 .,...' . v.-z . :r . T'7 II . II . no U7 il7's IIH',, 117 !V 14l 141, IV. tin: nl , "o Prer no "J nn lilHj Wl!.li;"::",.::"lg ?B F laVri'r A,n,tt- iH W 1 $' & I'onnuVtv.ui; 'V.?.1.- .S .. 41. ? -Il ijiHi ui.ii . v. ,":". ' !.( oj 1 a-. Pltlla Co . ... 5 an ., per cent prcf... Hi :m di ' .i.i 'J.1 "" P. Sh I!! jpi. M Heimoiuv---: 7, f 7Vd Ti1.; 71 s "1 -i'1 ( ,1 v h steel syi i)i SI NI'. York Ttwv '.' '. 01 .17 ;. . 7 (in pri'I .' ( I ) 1'otHi snles JVi.Pim , ompared with J50 sod "fs'Vl'Jr'' ' " Ueek "''". last wee .11 COPPER AT NEW HIGH -.n'.V'll1' Arr" -l-Eleetrnlvtle copper I. lellina nt 1st, rente i new high record V,i,ii! Pt.sent upivard movement The genera? auo isilnn however le Is , The best srsdei of Inke copper Hre 21 cents. Rraaes In comparison with summarized as follows: EARNINGS: 1913. From Regular Sourccs $7,142,387.96 From Special Sources-Extra D i v i d end on stock of ono of tho Companies in which this Company is a shareholder... Profit from salo of Securities.. 410,000.00 1,060,800.52 Total Earnings $8,613,191.48 Expenses a n d Txes 1,142,087.09 Not Profits $7,471,107.39 Dividends Sinking Funds.. To Undivided Profit Account $4,440,236.00 790,500.00 2,210,371.39 $7,471,107.30 Statement of Assets and Liabilities December 31, 1914 ASSETS Gas, Electiic, Wolsbach, and other properties at cost $71,114,444.05 Uncompleted Construction Contracts 50,280.09 Real Estate, Philadelphia and elsewhere 1,097,160.52 Cash 8,054,220.43 Accounts and Bills Receivable 621,718.74 Coupons and Guaranteed Dividends (Ac crued, but not yei duo) 606,038.10 Storeroom Material 168,692.35 Sinking Fund Securities 4,287,800,00 lOiul LIABILITIES Capital Stock 55,502,950.00 Taxes (Accrued, but not due) 350,387.32 Accounts Payable (Duo Companies in which wo aro shareholders) 287,200.84 Sundry Creditors 32,851.48 Undivided Profits, December 31, 1913 27,172,100,54 Undivided Profits of Year 1914 2,654,864.10 Undivided Profits, December 31, 1914, invested as nhovo Total Tho estimated expenditures for 1916, for extensions and improvements by the various leased works and companies in which wo own a majority of tho stock, aggregate $4,467,406.00, of which $1,253,841.00 will be expended on the Philadelphia Gas Works. Provision has been made to meet these requirements. Tho Stocks and Bonds belonging to the Company have been counted by a committee of the Board of Directors, whose report is as follows; ,, , , ,. "Philadelphia, March 4th, 1915. ilr, Samuel T. Bodmc, President, The United Gas Improvement Company, DEAR SIR: Pursuant to a resolution adopted by tho Board of Directors on Feb ruary 10th, 1915, wo have counted all of the Stocks and Bonds owned by The United Gas Improvement Company and found the same to agree with thq amount stated in the books of the Company, Ye have attested, in writing, detailed lists of said Stocks and Bonds and have filed the same with the Treasurer, Very truly yours. WILLIAM WOOD, MORRIS L. CLOTHIER, E. B. MORRIS," The President and Board of Directors desire to express their appre, elation of the efficiency and fidelity of the employes of The United Gas Improvement Company and of all the Companies in -which thiB Company is a shareholder. By order of the MAY AND JULY WHEAT ADVANCED AT CHICAGO Export Demand Continued Heavy Lack of Moisture a Factor in the West. Clllr.'AOn, April 21 -At the opening of the Uonrd of Trade today May wheat wni quoted unchanged at I1.6JH, wMle July rose H to llSSifc Later this gain was extended nnd nt the close Jlny showed an advance of 2 cents nnd July I'Sj ccnti. Other grains were also higher. I'.xport demand continued large, and It was the belief In manv quarters that re quests from abroad will become heavier as time goes on. Thnt the British Govern ment Mrtuall.v controls the surplus wheat of the world nt the present time there Is verv little doubt The lack of submolsture throughout the belt east or the Mississippi, namely tho Plates of Illinois, Ohio nnd Indiana, Is causing discomfort among grain men. This prolotiKed drought Is proving In Inrlous to the crop There Is a large nrea of promising wheat thnt was seeded early on good soil. Coin reserves are liberal, but theie Is no likelihood of free move ment In sight. This oondltion will re main until there Is an nssured prospect of more moisture Undlsjr fuluren ranged ns follow e Wheat- open iRh 51 v . ... 1.1,21 1 H4'4 Julv 1 aof 1 40 ' September . 1 20'j 1 21114 Yeefd's t.flV (;ioee. close. 1.021- H OHi 1.02(4 1 : i 2sv; Vi,:o Mnv ", 1, ,,,r,v ue,!iTVI 71, 71J) si' 701 lll Julv f-'ptember I Hits Mn .tub . September r.ard Mav July September II lbs Mnv Jul) September I'nrk Mnv Julv September 7, St, 1 ,... -,.-- TSVi ll S1J S1 tP4 S2 911 t17(, IIP, t4Hi . 4'J in :o ..10 17 . in 72 . 10 2,1 lii17 10 87 VT 07 r 21 ii s h'i 10 20 1047 10.72 10 21 M 17 10 S7 17 67 1121 IK 02 10 II 10 IT. '10 20 10 42 MO 42 10 J7 10 70 10 70 10 iS 10 22 10 17 10 0.1 17 Hi IP 17 1S 17 lfl 22 10.25 10..17 10. 10 83 tlO. 51 17 17 Bl IS 17 ls.eo 17.(11 IS 22 18 60 Mild, f Asked rock ?. . D Itcprlntj of article' written by us for Moodv's Magazine. Sent on reijiiesr. L. M. Prince & Co. Members N Y Stock Exchanse 20 nno.vn st. new yoiik the previous year this may bo 1914. 6,911,731.29 $230,656.67 Decrease 410,000.00 Decrease 1,112,005.86 Increase 2,172,812.38 $9,084,543.07 1,188,143.57 $471,349.19 Increase 46,056.48 Increase $7,890,400.10 $425,292.71 Increaso $4,440,236.00 801,300.00 $10,800.00 Increase 414,492.71 Increase 2,654,864.10 $7,806,400.10 $425,202.71 Increase .... 86,000,354.28 29,826,964.64 86,000,354.28 Board of Directors, SAMUEL T. B0D1NE, jfiresidtn L
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