&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