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EVEyiyarB'GETl-PHTLABELTrii, WtiPXBSDAY, JANUARY S, 1916.
FINANCIAL NEWS
RICE MOVEMENTS" OF STOCKS
IN WALL STREET CONFUSING
Some Issues Weye Under Pronounced Pressure, While
; There Was a Brisk Demand for Others Much
"' Talk of Unfavorable News From Washington
Ni:V YOIIK. .Inn. B.
"- There win a good ilcnl of confusion nlinut price movements In tho
market tone tnilny, with mnny stocks limlcr pronounced pressure nmt siistnlnltiK
oubstnntlnl tosses, wlille others were In brisk iloinnml nml mntle hmtcrlal Rnlns.
the cross movementH mny bo Indicated liy the fnet Hint while Crucible Steel
declined Ave points, Lncknwnnnn Steel rose six points to 83.
An Incentive for lienr operations una found In the wenkness shown by
Cnnmllnn Onr nnd Foundry yesterday, when reports of efforts for new flnnne
liiff caused a seere break In thnt stork, nnd ninny of the uptown plutiRcrs
lumped to tho conclusion thnt If this company required funds Hint other com
panies hnndlliiK wnr orders received from It must he In the snme position.
Cnnadlnn Onr nnd Foundry, however, showed nn Improved tone on the Curb
today, entirely recovering esterdny's loss.
Tho trndliiK clement on the door followed the lend of the uptown opcintors.
OffcrliiR stocks nt concessions nnd the unsettling of Millies for n time nnturnlly
caused llniildntlon by Western commission houses, which tire nlwnys quick
toshlft their mnrket position whenever nny chnliKCS In prices occur. The
Street was full of tnlk of Mime unfavorable news fiom WnshliiKton, nnd when
Vrenkness In Industrinl Issues was most pronounced these reports found mnny
believers, nlthottRh there was nothing confirmatory, however, In tho Wash
ington dispatches received, nnd theso stnlements must bo assumed to have
been based wholly on conjecture.
Hcthlehem Hteel dropped 15 points to IIS on n few snles, lull
In this stock cannot be regaided ns of slRtiltlcnlicc, In view of the
nesa of the mnrket In It for several months past.
The lending railroads and the Industrials, Ilk" fnlted States Steel common,
Anaconda nnd Amerlenrt Smelting, resisted bear pressure. Ill so Vigorous n
manner ns to cnuse general comment. There were mnny Indications that
tho Investment demand In these stocks Is broadening every day, nnd when
they were offered nl concessions the supply for both long nnd short account
Was quickly absorbed.
Mexican Petroleum, Influenced by current stories of coveting of short
accounts and liquidation by Inside Interests, leocdod 2K In the early forenoon
to 120J,4- Associated Oil sold down In sympathy vlth Mexlenn Petroleum.
Many of the war-order stocks nnd motor shnres weie wenk during the first
hour In addition to those mentioned, but on declines were In good demnnd,
nnd rallies were quickly In order. The market wns Irregulnr In the nfternoon.
The coppers were the strong spots on the continued ndvanco In the metnl.
21 Cents Asked for Copper
Copper has ngnin been advanced, and certain producers are asking 21
cents for electro! tic. One of the largest copper niithotllles In this country.
In discussing the present scarcity of spot and nearby metnl, says: "There
Is no price on nearby copper at the moment. Any one hnvlng nny quantity of
copper for sale that could lie delivered during the first quarter of this year
could get nlmnst nny tlguie. liven 2S and 30 cents a pound would be paid
by some consumers, who have been caught sbort of supplies."
New York Bond Sales
$1000 Alaska OoM iv (!s
mm Anwr Akt cv .
ttiamii Annln r 1j 3s
2I0II0 Amtr Smflt See fls
1C0O Amer Tel rlt 4
:om .lo cvt l1..
SOorl Armour Co -Pi.
7"0) Alrhlwn Ren 1.
Seen Atcrtlron .
.1000 Allan Co Mne lrt In
inn IliU a Ohio 3'4
IHKM tin 1
alum do cv 4'm.
dirt Hth f-teef 1st ,1a
IHX1 no Mil .11
IIIh. Tjow
nn nn
ftl'
HfiH
in
liiTH
PI
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102
IK
looni Ilronk !IA Tr r.s 101S.1004
hvii nrooK rn isiv int r.s
Willi cnl linn ft Klec s
woo Cent Leather l.t Bi.
.".tf Cent I'ne tat 4 . .
nino chill Cornier ;.
irrtxni fhe A Ohio ev 4'm.
declines
narrow
fiOOIl f'hen Ohio IUa
lirfni Chi & Alton fl'ts .
.Limn Cli. 11 A o Joint Is .
21WX1 Chi II Q pen I" .
Blum Chi M A St 1' gen Is
J) (' .M ft St I ev r.
1I7KKI r JI ft St P cv 14s
tamo Chl Mil ft P S 4s
"oho cons (Ins cv lis.
Mmo Del ft II conv f ii r.i
lomi Ills Secur Corn ,"s .
ivrniio Krle Ren 4s
1O10 Krie conv Is Ser A
.lino Uric conv 4s f-er
Isimo Uric prior Is
llKl ilr II ft In.l 4is ..
tool Itu.l ft Mnn In .
SHIM Mini ft Mnn rf.l r.s
1 miio tnillnnn Slcel .Is
t.vmo Ion Central ref Is
I'loio Ins copier cv i.s
lOHKI Inlerh Met 4'vs.
:iIIKi Inlerb It T ref "is .
..Olio Inlcr Mer Mnr I' s
loonn ,1m et
vma tnternl Ktm Pinn ct ;
4.'0 0 Jnp ne l S lUs
irooi Knn ("Its Ter Isi 4s
4in Ijiekn steel Bs ln.vl
LIlfHI Ijieka Steel .b III "ill
MKI I In ft M T .Is
mm I.Ik ft M T 7s
"wo Vlex I'et 'o (rs Ser i
1IM1I Mo K'.m ft T 1s( 4s .
mill .Mn Knn ft T LM Is.. MIU
lllll Mn I'm- it Is It,
.MKHI Mo Pnillli' l! llll
ilHHI Mont I'mver ."s . HM,
L'ihi N v Air llrnk. ivt is 1iil
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.(l.(l ,N V (' ft lllll! 4iS
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NEW YORK STOCK SALES
Alaska Junc.iu
Alaska Gold M
Allta-Chalmcrs Mfg .
Allls-Chalm Mfg pf .
Am Ae Chemical
Am Ac Chem pf
Am Ilert Sugar
Am Can
Am Can pf
Am C A K .
Am Coal l'roiluctj ..
Am Cotton Oil . .
Am Hide & I. Df .
Am Ico SecutltlM
Am Linseed
Am Llnwd nf
Am Locomotive
Am Locomotive pf. .
Am Smelt & He
Am Smelt-. Hef pf..
Am Smelters pf A .
Am Steel Foundries.
Am Sugar Iteflnlne
Am Tel A Tel
Am Tobacco
Am Wool tr r
Am Woolen pf tr r .
Am 7. L i. smelt
Anaconda Copper
Associated Oil
ntch Tisr
Atch T & S F pf . .
Baldwin Loco
Baltimore & Ohio . .
Baltimore & Ohio pf.
Uatopllas Mining
Bttnlchem Steel
Brooklyn Itap Tr
Bron Shoo pf
UrunslcK Teim
Butte & Superior.
Cl Petroleum . .
Ct! Petioleum pf.
Canadian Pacific. .
: in
p in
ll'i
Ijist
i lose. Hlsh Low.
. Ill III !t'i
. 2-l'j 2-t'f 2t'i '.M'4
. .Wi ."OS 2P 2!)'4
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. now r.i4 .)!" fii'j
.112 112 112 112
. 7.Vi 7(.'4' 7l'i 7.V.
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112! 112'j 112', US' 7
. Ml ! IM HI
00 00 5'Hi (0
lll'i 114i lHvi lll'i
127'i !27'i' 127'i 127'f
20bi 20S 207 20'
AT'i
Plltsbiirgh foil
I'lttsburcti Coal pf. . .
I'rcvod Mrel Car
Pullman Co
Hi Steel Spi;
Hay ( on Copper
HiMilInc
Heading 1st pf
Hep Iron X steel
Unci Island Co pf
Seaboard Air Line pf
Seirs Hoi' &. Co . .
Sloss-Sheff S A I Co
Southern Pacific .
Southern 11
Southern Hy pf .. ..
Muuohakcr Co
tjist
close, lllch
:t.- .Ti'
.llP'i 110
. C. l, 01
.10"
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Studebaker Co pf 1134 M3 113
Tenn Copper C3 i 004 02'i
Tevas Co 231 231 22M
I exai &. Pacific II
Third Avenue ... Go's
United Cigar Stores IPj
I'nlted Cigar Mfr pf 110
Union Hag A. I'aper. . . 7'
Lnltol Krult 1 1 7 5
United Dry doods . 2')
Union Pacific . . 139
Union Pacific pf S3
U S Ind Alcohol 120' 1
V S llealty A Imp . . -ill
115 ll.Vf 112'i 113'i
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Cent Leather Co Kl'i o3U .Vl'i 53'i
Cent Leather Co pf...l09'i llKIJi KJiPi HHP.
. Ki's m7, (H ' 00
. 24'S 2.Vs 2IN 2.V4
53 5.V,' &l'i M'i
. 15 15'. l.V. 15'.
. 39' 3'J'3 3'JI. 3')t
101 101'f 1(' I01l3
135'i 13(lh 13.V. I35s
Xni 133 133 13.1
. 17U 18
73i 73' 3
Sl'i 52
. 17 40lj
113" ( l!3'i
10'. 19'
U h Hubber
U s steel
V S Steel pf .. ...
L'Pih Copper . ..,
Va-Caro I'hem . . . .
Wabaih
Wabish pf A . . ..
Wabash pf II
Western Union Tel
West K A M . .
Wtlnghoua 1st pf
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1174 117'4
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7lKl N Y Itwv let Is
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nidi Norf ft West Is .
:tcni Nnr Pai ptlor Is..
WOO Nor I'm Ken 'Is
L'lHll I'nilfle Tel ."
.10.111 l'ennii 4s III41. ...
iruoo iln Ren et 4'5s
4ski l'ennii in 41. s..
2KHO P ( CftH I. Ojs ser
..11111I IM1I1II1 Her .N .1 .is
1 mil HuiillnR iren 4s
4 ilKHI Hep Ir ft S r.s
limn St I. ft H V rti! 4s
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Imioii ...outli Pne iv 4s. .
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,vio South llvvy Ken 4s
4111K1 iln con r.s . , ..
7iki Texas ft l'ai 1st r.s 1
L'hihi Third Ave mil ."s
linn Tnkli. "is .
HUM I" S Steel ."is
Hum t'nlon I'ne 1st 4s
Hum ilo cv 4s . . . .
lis in I'll Itvv.vs M P Is ...
.'illill Vn Ittvv .'is
4111m Went In Ion .'is .
MH.i VVhei'lInK .1 I. II Is
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WHEAT CONTINUED
TO MOVE UPWARD
Commission Houses Good Buy
ers Millers Anxious Buyers
at Liverpool
Sales in Philadelphia
CIItCAQO, Jan. 6. Tho upwnrd move
ment In wheat continued this morning
timlcr the Influence of Rood buying; by
commission liouies nnd strength nbroad
where supplies ate rnpldly Increnslng.
Sentiment una bullish.
I.nto estimates plnccil the cxiwrt busi
ness In tho Inst 21 hours at 1.2rO.000 bush
els. The belief prevailed nbrond thnt
because of the scnrolty of vessels ship
ments from Aigcntlna nnd Australia
would not bo large for nn Indefinite pe
riod, thus forcing Importers to continue
to buy In this country.
Mlllcis were anxious buyers at Liver
pool, vvheie wheat was strong, with offers
light. Spot there was marked Up 1 to 2d ,
and cargoes ranged Gd. to Is.
The receipts at Minneapolis and liuluth
today were 4W cats, against "O'J cars n
venr ago, nt Winnipeg, 417 cars, against
i.lt cats, at Chicago, IDS cars, against 253
cars.
Corn moved upvvnid In sympathy with
wheat and on strength abroad. Liverpool
tcportcd offers from this side small. The
tecelpts here today were 160 cars. Oats
also weie stronger. The tecelpts here to
day wero 119 oars.
trailing futures ranged s follows
i 10
Yes. close. Hlh. Iow. P.M
BO Amer Ilwys prof 0.V4 04'4 Ptt
2 Raid Ixjco prcf..lOS
2 Bun & Sua t c 41
f.8'4
T4i
2 do pref
fi20O Cnmbrln Stl
100 Chlno Copper "i
r.O Con Tr N J . 71
100 Cnl Petrol .,.'. 40
20 Elefi Slue lint US
1.1 (ten Asphnlt.. .11
.111 Ins Co K Am.. 2.V.
,'K) Keystone Tel Co 14H
400 lake Sup Corp. 0'4
72 Lehlnh Valley 7f
40 I.eh Vat Tr pref .1!H4
11 N I'enna .. 0.H4
IDT Pennn, Hit ... f.n
1 Pa Salt Mfg . 10O
B Pa fiteel 2
2.1 do pref M'i
10 Phllo Co cum pf 4114
sin 2
Kll,
H7l4
In!',
IV,
IIS
lull.
7i)'a
Ki.li,
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li'ili,
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1171
81 'j
111".
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10',
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32),
88H
OS
Chesapeake A. Ohio
Chile Copper
Chlno Copper .
Chlcaco It Western
Chl Ot West pt
Chi Mil & St Paul
CM A St P PI ..
Chl S. North est ..
Chl ft I i. Pac
Ciuett Pea i. Co
Colorado Fuel & Iron
Computing Tab Rec
Consolidated Odt
Corn Products Hef .
Corn Products Kef pf. Ki'i
Cruclbla Steel 70
Deere Co ... DOI3
Delaware & Hudson .153J
Del Lack 4 West LJ'.
Den 4- Itlo (iiande pf. !
Wells Faruo Kipress.. .l.'IL'tj 13.' 13J
Willis Overland ....''3'M 23 '1 1!30)
I WooUorth e W Co ..1185 1181s 118
Quoted ex dividend.
13J
ill
118Jj
STEEL PRICES ADVANCED
0.1'f
704
001
17'S iH
73' 3 73)3
51 51.
10 n:
IV2M 143'.
10)3 10' i
ai C3
05 fS
WM 00'i
1
.107 lOu?,
47M 47'i
JS, SJ
13 1 1
. 4-2'i 13
. 5Sij 5S'i
. 53 53'i
:rj)i 31
53 51
3JS'3 L'05 20 205
171 173H 173 17.1
1S3 485 1S5 4S5
115 114 HI HI
. 50 50?f aij 50)1
74'i 74 73 73
Goodrich II F Co pf .JI3ti ll.DJ 1I3W 113Vi
Great Northern pi .120). 1L'5V, I2l' 125)1
Gt N rfs for ora prop. 50 SO'i 49' 4
Gueeenheim Kx ex dlv 'Ml 9:11.' '.
Diamond Match
Distillers Securities .
Dome Mines .
Dut S S &. Alt pf
Erie
Erie lit pf. . .
Erie 2d pf
Fed Mln &. Smelt
Fed Mln & .Smelt pf
Gen Chemical
General Electric
General Motors
General Motors pf
Greene-Cananca . .
Ooodilch B Y Co
153)3 1533 153Vi
227)3 227 227'3
20 2
100s 1
4U'i
28'4
14
42)i
58
53U
31
51
1001.
17'.
:.o
it
42' i
58' 1
6.Ti
31
5:Hf
liar El Hy L & V
Int Agricultural . .
Int Agticultural pf. ..
Int Hanr N J
Inter Con Corpn
inter Con Corpn pf
International Paper .
.Internal Paper pf
1 inspiration Copper-
rintM M titlo... -Int
M M tff cf dp ..
Int Nickel ..... - .
Kan City Southern
Kan City Co pf
Lack bleet- .
Laclede Gas . ...
Lake Erie & West . .
Leblga Vailej -,,
Lpnae-Wlles iilscuit...
Ixuif Island
LotUlard I Co
May Pcpt Stores . ,
Mwwell Motors
W Motors 1st pf
Max Motors 2d pf . ,
Mexican Petroleum ,
Met Petroleum pf .
Miami Copper
Minn & St Louis
Missouri Pacific
Missouri Pac tr cfs
Montana Power
JfOflUaa Poter pt
National liUcult
Nat Knamt & S
k"4 Lead
ffeyada Con Cpoper
New York Air Drake
N X N U 4 H
New York Central
k'V'fli West
NerTolfc t Western
VortB American
KrrtiKin Ilciflc
Ontario Ml ii
Pwfc H
Ol'j 05 !'5
20), 20 Jg 2")
73 74 70
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. 20
21
SSH
10
5).
5M
7-5
109
127
28'i
csn
10).
Bars, Shapes, Plates and Tube Quo
tations Raised
PITTSHL'IIGH. Jan. 3.-The Cnrnecle
Steel Company 1ms ndvanced Its 111I11I
iimm price 011 barn, plnloa nnd tslmpes;
1 ft ton, from l.SOc lo 1 Soc. The thu-e
piecedliiB ndvances vvcro of 2 a ton, nil
previous ndvances having been Jt .1 ton
at a time. The l.SSc. hns become tho 'min
imum of tho market, but before tho for
mnl ndvanco occurred It was being quoted
In mmiv Instances.
The National Tube Company has ad
vanced lino pipe $.' a ton, oil coiinti y
Koods II to U n ton und standard steel
pipe about 11 per ton. The card ndvanco
In steel pipe Is one point or ii 11 ton, but
an extra tiliniiiiiu- is Klven to Jobbers,
equal to the trlmininK Independents Imvo
lately been Blving In competition ll Is
a fact that Independents have often un
tie! sold the National Tube Company by
about (I a ton, the lemlinu Interest maln
talnlne its position In the trade by tho
"ervlct." I has been able to Blvo Jobbers.
An IntereMliiK point about tho present
steel pipe" advance Is that It covers stand
ard weigh plpo only, not extra btroui:
and doiflile cNtru stronir. ippareutly be
cuiisp some independents have been niak
Inir sales of mixed lots by cutting prices
on extra strons and double extra strong
in order to land ordeis for tho wholo
ubsorlment.
PUHMC UTILITIES
The Hoanolti. W'nter W'oiUs Company,
successo! to the old Itoanolte Water Com
pany, has Mild lo bankets 1MM.000 C per
cent, flint iiioituaB'' bonds. Tor the venr
ended November SO. I MR. kiosi earnliiKS
were $121,111 mill net JMi.iii.
The Portland liallvva.v, l.litht nnd Power
Coinpnn lepoits n ileciense of JSMCl In
November cross cniniiiRH. There was 11
net decicase of 32.uU" nnd the surplus
was $22,113, a los of $3I,S02. Kor the 12
iiionths the surplus was $2iO,riHI, a de
cicase or $C3G,131
The Commonvvetilth Povvci. l'.nllvvn.v .V;
I.lulit Cinnpany, for November showed 11
Brosi Inciense of $13S,MI nnd a net In
eiease of $77,2i)j The balance nftcr pie
ferred dividends foi 12 months was $1,329,
302. n sain of $112,267 over th" previous
peilod.
The Columbus Itallvva, Power , Llsht
Compan.v repoits 1111 Inciense of 115.352 In
November Kross enmliiKS and a not Bain
of J10.S50. The suiplus was $0,!sJ2, no In
cieiiM of $SS23 Tor 12 months the balanco
after picfoired dividends was 497,S2D, a
Bain of $33,30S.
In addition to the regular quai'tcily
dividend the Anicilcan l.lRht & Traction
Companj declined 11 2' per cent, stock
dividend.
Tho Intel boroiiRh Rapid Tianslt Com
pany announces that the follow Iiir have
been clouted to membership on the honiil.
Guy 12. Tripp, chairman of the WesthiR
house Coni).in, A.,-.!. Hemphill, ehnli.
man of the Guaranty Trust Company, and
A D. .Itillllaiil, meichiuit and dlrectoi In
seveial InrRe cm potations. Theso men
were elected to llll vacancies caused by
the death of I'. It. Ilacou and Andrew
f'teenian nnd one exIstlnR vacancy.
Messrs. Tilpp, Hemphill ami J11IIII.111I
weie also elected directois of the Intei
borotiRh Consolldaled Coipointinn, to llll
vacancies caused b the death of .Messis
llacon nnd Freeman and one existiiiK
vacancj.
lienl
Mnv ..'
Jiilv .
Corn (new
May
julv
Oits-Mivv
July .
Iinl
Innunrr Mnv
Illli
Jnnunry Jlav .
Pork
.Innunrv .Mny . .
IlM.
Open. Itlslt
1 Wi 1.V!si,
11!) 1 ),
deliver)
7T'5 7s,
. 4SI,
.. 411
. 'il
.iu.tr.
4S4
isi,
moo
111.10
I.OIV
l.III
l.ist,
??u
41114
nnr
io.:;o
Veufd'ii
Cloe. cloc
l.'JM
l.lll'.
Ml
7'i
4
4
10 on
id:io
1.S.V4
1 IS',
7:.'.
tt"
n.'i
ll.s.
linn
.11)17 Pl.t. 11)27 n.12 H012
111.'..- KIT.". 10 117 10.711 10.47
10s
41
SS't
7JH
S4'4
71
37.
04
nl
2D
14U
D'i
7Di
3914
PUS
r.n
100
CO
M'4
411.
SS14
SOS
21U
.. .I.7.'.
IMI"
tAskcd.
tlxli?
11) 2.'
118 P7 tls.OT its ill
111.2(1 11)22 IS.S".
LIVE STOCK QUOTATIONS
CincAdO. Jim. .. -tlons-Urrelpt. nn.oon,
Mnrket umk. Mlxnl nnd liutchern. IH.'UiW
Hin, nn nl heiivv. JU IWKI t. roimli lirnvv.
il-,Ufl(i.Vi llulit JU KI1H1.7.".. IB. J ".s-IJ
ilIlii. hulk irfM11 s.1 'ATTI.l-llwrlit,
lll,IHl. Vl.irki I memh. Ilci-vrn. Jl ".iflli rif
os nml litlfrrp. sl.'Hit.M 'loxiinii, fH.MKJi
11(1. inlvrs s SlKdllT." Slli:i:i llcrelptx.
17.KO Mnrket ueik Nntlvo nml Wf,tcrti,
SlllDWI liiiiilm, !U svail..i).
STKIllilMS WK.N'T TO llllill
Willi,!'. JFAHKS HIT LOW
Street Kailway Cuts Dividend
HUI.YOKIl, .Mass., Jan 5. The Hoboke
Street Ilallvv-ay bus cut its nnuu.il divi
dend f 1 mn h per cent, to 6 -per cent,,
ovvIiir to n fallhiR oft In reclpts duo to
a number of causes. The 8 per cent,
dividend was not fully earned In 1911.
1
DIVIDENDS DECLARED
Voutiff S'mvth, KleKI ('omimtiv
inimiiv.
ter tent, im pri'ferreil. i.inbk
To Issue Stock in Huyint; Koad
COI.UllHirK. O, J.111. 5 The .South.
oaHtern Ohio Itailuay Comimny has anked
the I'ubllc Utilities Commission ,'or
thorit tn Issue $800,000 common stock,
the proceeds to be used in hujiiiR the
electric lino of the Southeastern Ohio
Hallway und Light Comiuu runuliiR be
tween Zanefvllle and Crooksvtdle and in
extending the line to New Lexington.
KATES FOR MONEY
New York . .
PhiUdclchM
Huston . . . . -
ChltMKQ
Commercial ttauer.
phU, .1SB1 pr rent.
Crfll
. . u.e:i
)
I to a month..
Tlme.
.11451
4 64 1,
i'tilUilel-
Approve Refinancing Plan
DAITIMORK. Jan. 6. Stockholders ot'
the Merchants and Miners' Transporta
tion Company at a special meeting unan
imously approved the refinancing plan of
the corporation as made public ubput two
vveks ao. Steps will now be taken to
form tho syndicate which is to do. the
necessary underwriting under the plan.
The Mercantile Trust and Peposlt Com
pany will head the syndicate and u num
ber of local banking houses will participate.
Finance Company Extra Dividend
The Finance Company of I'ennslvanU
has declared a -regular quarterly dividend
of I-W a haro and ii to I per cent, extra
on the second preferred stock pujable
February 1 to stockholders of record Jan
uary 13.
Feml.111nll.il
Jnnujri 11)
in ntni'K ni riinrn iieiinuur .11.
AmerlcHit I. Kht nml Traction t'ninii.ui
rrRiiljr (luarterly 21? tier lent. In i.ihIi' unit
Utj iier tent In nimmon stnik mi the ioni
mnn btmk und l1 pr tent on tlio iirffernsl
iitnck. nil imynlilo Kcbrunr I In btoi k (if
record January 11
Altrii ultiiriil Crvillt I'nrpnnitlnii rcuular
nuarterly ll per tent nn prrferreil iunl ) nf
1 tier tent on inrnuni nf the aivrueil illvt
(lend, llnlh illvMend. uero palil J,inuur t tu
fctoik of nionl Dcienilier til
Hfltbim Comnany. uf Ilnton rrRulnr nu.ir
terlv a tier lent , iiaifitile lruar 1 tu
toik of reiuril January 1.1
Foimor Up 1!0 Cents From Extreme
Hottoni of Last Year
NI1W YOIIK. .Ian. .I.-Cp to the end of
llie llrst hour tho only limitations avail
able were In MtcrlhiR Ueuiaud traehed
$l.7."i1(, bid and cables $l.7"ii4 bid, boh now
hlKh lecoids. This level shows a discount
of 10 cents per pound stcrlluK or about
2 per cent. Tuesda.v's low level for telelis
tuniks showed a discount of 22 per cent.
and Vleimn a dlscnunt of nbout 30 per
cent. Ilefeience was m'ndo estcrday to
the statement of 0110 of our larKest In
tel national bankets, who described the
Sold situation as too one-sided. He ile
claied thnt by means of additional
sales of our securities by l.urope or lm
potts to this country, or both, $100,000,000
In Rold could be evpoitcd.
The hlRlf rates for call money nn Tues
day nie raid to be merely due to the tem
poral. v shifting of veiy I.trRo bank and
trust company accounts on certain tians
actlnns The host uuthoiltlcs continue to
nsscrt theli opinion thnt there Is not
llkcl to bo an appreciable chnnRc nt
inone tat.es In tho near future. The
streiiRth of stcrlluc Is due to the fact
that lecent lmpnits of our securities have
been consldeiably larRer thnn the estl
maLes Our bankers eneouriiRe the pur
1 luxe on this side of forelRti-held Amcil
lan secuiltles. In addition. It Is tlioiiRht
that a Rrent many meichauts who had
been holdliiR olf In the oxchaiiRe maiket
foi (.nme time i-(ently vveie'iomiielled to
pill chase. On the advance In stei litis
toda.v the offeilnRfl became viij small
In tho second hour of business transac
tions were almost entlrel) confined to
stoillns. Oein.ind tose to I.T.I'.fii 7.1'j and
cables were I.7B asked. These flRures
shou rallies from tho extreme low last
ear of about 2'i cents. Itclchsmarks made
a new low ledjnl nt 7I34. The onl) quntu
tion nvnllohle for francs was OSPj for
tables and .l.l for checks.
In the e.ul.s nfternoon steillnp; shaded
sllRhtlv finin tho best IlRiires of the d.iv
to 1.7.1 '. for demand and I 7.1, for cables.
Kiancs wete a little better, at 3.S41 for
tables and Ii...', for 1 hecks A nominal
llRine for telchsmnrks wns 71 !)-lfi, a fui
ther declluo of 2-10 (iuilders weie veiv
stioiiR, at Mli, with considerable dllll
cult In RCttinic operatois to quote.
3S I'hlln t:iec . . 2K
) 1 tl T 21
Kill do tr ctfs .. . i
11X1 ItcnillnK 02
021 Ton Delmont.... 414
1.1 Ton Mining.... (111-1(1 OK
20 t'nlon Trne ... 41
lnl tt CJ t 17I4
2S20 U S Steel . . R7'i
2.1 do pref
SO Wnrwlck I & M l'l'l
1 IV Jer & SS.... H7V
100 Crnmn & Sons . M
ItO.S'DS.
Ii.t prev.
wile.
$100 Am -ft & n Kfl . IK)
loiKKI lleth Blefl (is 120
.11 C St serin '10. PS
(3 do Mnv 1017.. lom
1000 i:iee ft I Tr In 111,
10(10 Kqu 111 flan .19 toil
i.vkm tl 11 & 1 im 4im ..
2000 Inter Ttvvys 4s. .is
2110110 I.eh N con 4i4.I(ini
.V)ii0 Leh Vnl grn 4s PI14
.IKK.) th Vnl 4'is '24
."000 Pa cons 4, '4S too
1100(1 Pn sen 4M,n too',
.1 toon I'n enns 4', a. . .10.1
I.Mmi) l'h Co cons r.n. In)
II l'h Co nerln '1(1.100
11 do 1D1S . IWV4
.'.u lhlln Klec 4 K2i.j
linoo Ilfnillne eon 4. Ii.l
fiPOrt Span-Am 1 I's 101
(.0110 I'n Unit t e Is 7."
t.VKio W N YAIMneM .17
11000 Wclsbiicli. Int .Is PI14
4.1
87'4
RS
1I7S
inn
11714
Hlcti.
80
120
PS
IOII4
SP4
imm
HS'i
TkS
1 01 '4
1)1 14
102
too
100
10V,
not,
too
ns
8214
11.1
102
74
.17
111
10s
41
74'i
64'4
7!
ri7S
on
.14
2.115
14S
n'4
70
RS14
MH
r.n
100
00
M
41
2SI4
20
11VV4
Sl
41,
0
4.1
87
87
117
Iflll
0714
87
M4
10S
41
r.st,
M'4
71
.17
on
34
20
14
t)i4
70
.14
P.fH
Rl)
loo
00
M
41
2SV,
20
21
82
IK,
'
4.1
87
87'4
117
10
0714
S?
,7fr
'WzSffv
MnDTFTHATIONS OF EMAHGOES
STIMULATED MARKET SENTIm'
Cambria Steel Led Advance oil Local Excliang6,iM
irauu own jaAjjaiiunig v,4.....v,iv.itti raper
Rates Expected to Stiffen
2 10
l.ow. P.M.
(0'4 S()
120
PS
Hint
8P4
loon
LS14
r.s
iot'4
in '4
120
ns
10m
sm
llKl'l
HS14
r,s
101
tn 1,
102'4 102
100 100
100 K
lOWi 10.1
00
100
im
s:'i
Ol'A
1(12
71
.17
OIL,
110
100
IS
8214
1)1
102
74
117
1)414
WILSON'S COXSEUVATIOX
IMMHWAM KTS A START
Water Power Bill Would Permit Serv
ice Kcgulation
WASHINGTON'. .Inn. 5. Tho Adminis
tration water power bill, llrst measure of
the President' consetvatlon prom am.
wns tnken up In the House todn: Hep
resentntlve Kerrls, of Oklahoma, called
up the measure and presented a favorable
repoit from the Committee on Public
Uinds.
The bill would provide for the Ienslnp
by the Secietary of Intel lor of nil water
power sites under Federal Jurisdiction
Ieases would be limited to SO-) ear petlods
and the Sectetnry of the Interior would
be Riven complete ntihotrlt) to roRtilate
tho sci vice, lates and sccuilly Issues of
concerns tnklnK up water power sites for
development.
Tho bill carries strliiRcnt prohibitions
nRnlnst combinations tending toward monopoly
rurther modincnllons of the embitrRO
orders of various members of the Knslern
Trunk Mne Association created a more
cheerful fecllnR In the local llnanclnl dis
trict nnd this wns reflected In the Roncrnl
tono of the Philadelphia market. Cilri
bria Steel led the list, with a rise of more
than a point, while United Slates Steel,
I.chlfih NavlRntlon, United Gas Improve
ment. Tramp ShlpbulldlnR nnd I.nko su
perior all displaced llrtnncss Tho trad
Iiir was broader nnd more active than of
late nnd there wns a distinct expansion In
the demnnd for bonds, both on nnd oft"
the echanR0. Unrnc blocks of Grnnd
Itaplds and Indiana 4'4s nnd icihrh .Nay
Ration 4'is chanRcd linnds durhiR the
inornitiR
As the day ndvnnced there were further
Bains established In several Issues, In
cludltiR i:icctrle StontRC llattery, but
Pennsylvania Steel lost n couple of points.
General trade conditions continue to Im
prove. Thus far In the new 5 car there
has been no abatement In the demand
for steel products In fact. It Is said by
some Interests In the trade that dtirlnR
the last two dn.vs llieio has been more
activity than on several days last vvz-elc,
when the bujers did not display ns much
Interest ns nt picscnt, duo probably to
tho
market I.s larsi, Inquiries beln n.?cJ
shapes, platei, etc.. nnd ii,.Jl."t.Mr
better demnnd for hrni,..i Mi
4
rno mercanuio pnper mnrk.i 1 '
cbnneed both ns in i.T .". '
tlons; quotations are 3
And
1
in 1,1 : "
Ituslncss Is moderate, but a 1.1! 4?
time of tradltiR Is expected In lilv
future ovvhiB to the pressure ol "l-
ployed funds upon tho banks. SS
Tho nnnnclnl Institutions, ns Is u.if
the beRlnn ne of the u ... ?.
41 i .. . .4 " .." " ITl.rH.
time In the matter of ,;.. "'
there Is a Rood absorption ...
but
41.. ....1 ...1.1 .. . ' v" " .rn.
ncn tuiu huiu cuuvinues to come lni
country In consldcrnulo amounts u'E
reRUlnr cdurso thereforo b.ink-r.
thero Bhould soan develop ft mors .l.a
market for prlmo mercantile n...Si'
prime mercantile paPet;
wS
iVmcricnn Holllnir Mill Ti.. n.
VJWNUIiMiNAll, Jail fi Thn .
ItoltlnR Mill Company has dwla
quarterly dividend of 2 per i
rcRtilar
8
and nn extra dividend of B per cntr
the common shares Tim n.,i .....H
dtvxldcnd of P4 per cent, also hiit?
declared oil tho preferred stock. S
CHAS. C. HARRISON, Jr., & CO.
BANKERS
FIFTH AND CHESTNUT STREETS
PHILADELPHIA
Dominion Steel Dividend
TOrtONTO, Jan. 5. The romlnlon Steel
1'nundrles declared a dividend of S per
cent, on the common stock. The checks
received bv the stockholders were the (list
Intimation of any such action and Is the
first common dividend ever paid by the
company. Last October the 14 per cent,
at rears of cumulative preferred dividends
were cleared up.
MEMPHILADELPHIA STOCK EXCHANGE
NEW YORK STOCK EXCHANGE
We own and offer subject to prior sale:
$100,000 Pennsylvania Railroad Co.
Consolidated Mortgage 4 Bonds (Sterl
ing Bonds stamped as $1000 Bonds pay
able in the United States)
$75,000 Northern Pacilic Railway Co.
Prior Lien Mortgage 4 Bonds
100,000 Tl. Worth & Denver City fy. Co.
Equipment 4'4 Bonds, Scries "C"
$100,0011 Dsllimorc & Ohio Railroad Co.
Refunding and General Mortgage
Bonds, Series "A"
$100,000 Macon Terminal Company
First Mortgage 5 Bonds
$100,000 Chesapeake & Ohio Railway Co.
General Funding and Improvement Mort
gage S Bonds
150,000 Tri-Cily IJallwny & Liahl Co.
Collateral Trust First Lien 5 Bonds
J5I 00 Gcorjjia Railway & Power Co.
First and Refunding Mortgage 5 Bonds
, TELEPHONES
ucn, uomDara
Long Distance
Keystone, Main
.611.1 :
'ins
5
7o
Maturity
1948
1997
Various
1995
1965
1929
1923
1954
Trle
nnd
Interest
99
93
Attn
IMtl
I
wi,
w
100
Mkt.
100
100
99 Vi
90
1
4.91
5X0
5.0C
I
5.1C
56
The Company is paying the interest upon t"..ese bonds without dedncta
of the Normal 1 Federal Income Tax. fFree of Penns; lvania State Tu
Pennsylvania State Tax Ketunded.
Circulars Fully Describing the Above Furnished on Appllcatlo
I
Lead Prices Advanced
N'HW YORK, Jan. B The National
Lend Company toda advanced Its prices
4c. per pound on all lead produced.
(Jets Electrification Contract
riTTSItrittill, .Ian 5 -The WestliiB
houie Kb 1 11 lc ManufiKturliiF; Company
has lecelvfd a $1 ."),ki mntract fot the
elcctrlliiiitlini of the Inland Steel Mills'
addition 111 Indiana Ilaibor, Ind
WORKMEN'S
COMPENSATION
LAW
A Brief Analysis by
WM. A. SCHNADER, Esq.
Now Ready for
Distribution
if you have not already or.
dered your copied .end money
or tvtamps to PUBLIC LEDGER,
Independence Square, Phila
delphia. 1 or more copies, 23c rnch
10 or more copies, 1.1c rnch
100 or more copies, 10c each
NOTES OF THE RAIL
The lloslou and Albany Uallro.nl has
declared nn embaiKo on freight 1 .unbound
from AlbaiiJ, eiept livestock, food and
coal.
BAR SILVER
I.O.vnO.N, Jan, iVTho price of oinmerii.il
bar silver ajlamtd U toiUy to Ull' prnc.
Beech Creek Railroad i
4 1st I', Hontls I
m V Due 1U30 I
H Price on Ippllentliin m
LOGAN TRUST COMPANY
OF PHILADELPHIA
CAPITAL $900,003
SURPLUS AND
UNDIVIDED PROFITS
J375.00J
We invite the consideration of this
Company for the conduct of Trust Com.
pany business in its several branches.
ROWLAND COML.Y
iYciMeiif. '
Wl,
DAM BRADWAY
Treasurer.
'
Brown Brothers & Co.
Fourth and Ciretfimrr Stoeets
PHILADELPHIA '
M EMBERS OF STOCK EXCHANGES
OF
PHILADELPHIA, NEW YORK and BOSTON
Orders carefully executed.
A dependable income is the
direct result of conservative
, investment.
A good selection of dependable bonds is included
in our
January Investment List
as well as some general comment on the securities
of Public Utility Corporations. A copy will be sent
on request.
EtewAjm b;mjjTHj&Q
SAJNKR.S
Established 1802
Members New York nnd Philadelphia Stock Exchanges
BnoAD and Chestnut Sts., Philadelphia
30 Pine St4.let New York
ii
.1
-rJ
$750,000
Winnipeg Electric Railway Co0
696 Gold Notes
D.tfd J.nu.rr 16. 1018 Du January IS, J0:s
l'rlnclp.1 and Int.rr.t parahle at the Hank of Monlrral-In NaT York,or Toronto, and In landon,
Cnglanil, In Hterllog at rar of eirhaDse,
CF.XTItAL TRUST COMPANY OP MW YORK. TRUSTER
These Notes are the direct obligation or tht Winnipeg Electric Railway Company and are specifically secured
by pledge and deposit with the Centrat Trust Company of New York, as Trustee, of A'200,000 (approximately
$970,000) Winnipeg Electric Railway 4K Perpetual Consolidated Debenture Stock secured by Trust DeeJ
creating a'mortgage on all property of the Company, subject only to $5,000,000 underlying bonds.
Earnings Statement
Twelve month) ended October 31, 1915
Gross Earnings , ; . ,$3,498,397.00
Operating Expen.et and Taxes 2,520,332.00
Net Earnings jj 078,065.00
Bond, Debenture Stock and Other Interest , 455.645.00
ai.... -, ' $ 522,420.00 ,
Annual Interest charge on $1,500,000 Gold Notes, . , , , 90,000.00
B",8nco ' ' ' ; f .$ 432,420.00
The Company's gas works have an output of over 400,003.003 cubic feet per annum and the electric plants
have a capacity of 50.000 H. P.. of ' which, 30.003 H. P. is hydro-electric and 20.000 H, P is steam. Total
population served about 250,000.
The Company owns 110 miles of electric railway in Winnipeg and controls 170 miles in all, including thj
lines of subsidiary companies which supply adjacent towns with electric and street railway service.
All franchises under which the- Company operates are either unlimited as to time or extend for long terms.
Price 100 and Interest,
Subject to prior sale and for delivery January 17, 1916.
' Dcscriplim Circular on rtqj'uL
William P. Bonbright & 6., Inc.
( Morrn Wistar Stroud, Jr., Manager
437 Chestnut Street, Philadelphia
New York Boston Detroit
L,ondon: Paris:
William P. Bonbright & Co. Bpnbright & Co.
in,. i..,., i,n, n,.ii,iii ,MI, i Ji.mrm. ,.. ,,, T-r-T
1
.11