14
BVtifriKq- LEDGEB-FHiEADEIiPHlA'.' FRIDAY, tfANTJARY 14. 1916.
FINANCIAL NEWS
,-T
VIGOROUS BUYING OF WAR STOr.KS
J SE&T THEM UP FOUR TO SEVEN POINTS
. Bwrts Current of a Merger of Bethlehem and Crucible.
, J5Sinor ftieel snares Also Given a Boost Strong
,e interests tfoujrnt Pressed Stee Car
xne Uneniilnoss which wns created in yestcrdny's lato trading by the
MWtfcnn outrages disappeared over nlfiht. Thero was no pressure of stock
in yWence. but Instead n vlRoroui demand appeared from maiiV sources, with
oulflMe buying In evidence In many Issues.
PHng the nfternoon the buying of many of tho warurdcr stocks becamo
ynt Vigorous, and violent advances In these Issues recalled the spcctncular
MWrwHenls noted In tho same stocks last year. Many of these Issues made
ipwiw ranging from four to seven points, and dealings In them were on an
,..,., ,, BLale. lno extreme advance was made In Uethlehem Steel,
Wilch roso 25 points.
Tho room connected this display of strength with tho persistent buying
Jit Cruclblo Steel, which roso moro thnn seven points, crossing 67. Reports
were- current of a merger of tho two properties, although when that was
fcuggested before It was understood that fears of litigation prevented Its con
summation. In somo quarters an Idea prevailed that this activity In tho
""'""' "iocks imncaicci a period of trading similar to that of several
months ago.
' Tho minor steel Industrials ncro also In Vigorous demand, and many
l "' mnac gains or 2 to 3 points. Pressed Steel Car was
by strong Interests. American Can reflected continued accumulation.
New York Bond Sales
rw.
b ..., 102 10214 102
,fs . nvi ns piu
jv 4s . io7 mil in;?
im . . ... . Hlrt. Vw
tarn -.""si csr ?D "".. I"?
..rtrti V"K'W 'IPncn
0000 jtmw T.l .1.
49 Amr Tel conv
vil armour Co 4n ji
iJ"3 Atchison iidj 4s. .. , s;u
itS5 Jf1"?? V. 4.iw ionJ
.ionn At nn Co I.lne 4U . . V
iffi!? .'J.'J i hl" 4" Kw
..!lS? n"t Ohio 4 . tail
ffavi fiiT.?" . '.'"' J'Wi... IWH
I24
LSJ5 S!2! !'thfr l.i is loin
..l.i i.pnr . n i . . ..
I Hl I'Mit till M
1SIS &M Ohio CV Vl4i
JJHJ Ches ftOhln - , ;;
S!BbS VW,y -:
H J " m 4...
88Sfel,liI,Qtr'v"
20000 M & St I' VI. ' '
wKK ! ? Sl "' rH 44..
1!'RU,,,:,rM '
"UJJ r"!nM"'"i Tel.M'
i
llRU
o-iti
nbt-J-i
& It
bought
Application to List Kcnnccott to Be Made Soon
It Is understood that within tho next month application will bo made to the
lew YorK 8tock exchange for tho listing of shares of the Kcnnccott Copper Cor
poration now being traded in on the Now York Curb, There has been consld
crftblo talk In recent months regarding tho listing of this company's stock on
tho exchange, but tho time Is now regarded ns about rlpo for such action. Within
A short time, It is stated, tho directors of the Kennecott will meet to tako action
on tho dividend.
American Telephone Sells Notes.
J. P. Morgan & Co. hns purchased from tho American Tclophono and Tele
graph Company $50,000,000 4 per cent, two-yrar notes. Somo of tho notes
are a direct obligation of tho American Telephone nnd Telegraph Company
and others arc obligation of its subsidiary companies, Indorsed and guar
ontccd by the American Telephone Company.
It Is understood thnt virtually all of these notes havo been retained by
ho Morgan tlrm and their associates as an Investment, nnd will not be offered
to tho public.
fwwi ii V " " ll'i.
i'XR !?en .'o Or 4..;
linHK J,Tn nl nrr'"
lflK r-'l', ' m,t rnwt' 4H
5UK i'ISx'm 1 fr IJ .
JIOO (Jrnntiy b
-JJTO lown Cemrnl rcf in
lfion in Corner cv fli .
rSHWimwli MM 4U .
J. ! I PT rt .In!
nooo Inter M .Mnr 4'i.. .
iV.S ,K"1 Cl,v a !' ""
.TlflOO I,nrkjl !! Xm Inrn
.?595 ''"He Shoro cn mn. . jn
. i l.l & J T ,V Ions
jooo lxirlllanl 7 ... , 12-,J
JJS'i Jillwmke? Onn 4. . njit
.'!! J!" Kftn.. T s"
linoii m; V."l.i",.," "" '":
si!K SYG&TajS
; ion
45
n
ra
iH
si
no
jmvi
I1'4
siH
on
42
00t4
ino
KB
ioi;
Ml
ioS
CURB MODERATELY ACTIVE
Good Demand for International
Nickel Shares
NDW YonK, Jan. .-Speculation In
the market for outside securities today
was moderately active and while somo
Irregularity developed In the early trad
ing me general undertone was stronc.
There wns an especially good demand
for International Nickel, when Issued,
which moved up 1 In sympathy with tho
strength of the company's stock In the
stock market. Marine shares were also
conspicuous by their strength on a bet
tcr buying movement on the moro favor
able outlook for tho reorganization.
Motor stocks were comparatively quiet
with tho exceptions of White, which,
after advancing 2 points, eased off slight
ly. Mldvaln Steel, after a slight reces
sion, developed strength. Tho Curtis
Aeroplane Issues terc heavy. Manhattan
Transit was weak on frcercr offerings.
Oil stocks were stronger wllli . cnnH
demand for Ohio, which crossed MO, whllo
good gains were shown In .Standard OH
of New Jersey, California and New York
mining Issues were steady.
INDUSTRIALS.
AJnx Rubber Inc w I... ......... .,,, 71 7114
. nimujnii uim c I on er. . t . , .. . o'fc
i"" "f"i '................ in
iurns Aern ..... ,.,..,,.,
Drlinn-Pesburr ....... . ......
Inter Merchsnts' Murine
Inter Merchants' Mnrlno pref,,.
Sates in Philadelphia
fc Allls Oinlm
n Am (.n . .
TO Am nys rref,
MO mill JO... ,
100 Chlno Copper,
34W Cam Steel ...
.hi uorn iTOfl
Tea. close. High,
217 Klec Btor
i'o inti
.122
. sag
Mu
ferhnrn .nm . . .
30J Ixike 8un Corp. n
t i.enign nrv,... 70
10 I-ehlith Vslley.. St
SO Ii vul Trnn 3SU
40 NorlMonn 13S
is North renn.,, 01
82T rennn Rdjlrnad. fi
110 Pa Unit Mfe.,.100
10 Phlla Co ., ... 42
.?J rtfl cum tref. i 41J4
ftIO . It T tr ctfs , 10
m f'hlla Traction. 7H
100 nttsbth Coal.., ,,
27 Reading ,....,. 82
2J lonopah neln., 4!i
221 Tonopah Mlnln. 7
u" imueo uaa imp ,
M
122
05S
40
m
7VI
M
KlU,
n
J?
V
Low. CIoe.
27 i -'i'
:::i
.22
4J!4
rr
:::::::::. 72is
704 ;(,
LI' K?
.Vim N V c & It .-tUs
SSJJf KCft HujII
iimkkj n v o a ii hb .
t Some Special Development Expected in New York Central
, An Impression prevails on tho Street that somo special development Is
floso at hand In the Now York Central outsldo of an expected dividend Increnso
Rt tho March meeting, and It was asserted In anmn nimrinn m, n . ..
tts , --- .,... ..u ...f.b nititt;i,lullk
in regard to this matter may be mado In a short time.
NEW YORK STOCK SALES
1 Aaanu tiprcsj
r Ausica Juneau
''; Alaska Gold M,....
et Allls-Chalmers Mfg.
' Allta-Ctulm Mfe pf.
.;', Am Ag Chemical...
y Am Ac Cbem pf. ...
?' Am Beet Sugar
Am Can.. ... .....
Am O & F
Am C & F pf
Am Coal Products..
Am Cotton Oil
Am Cotton Oil pf...
Am Hide & L pf.
-'a
Last close. High. Low. Cloto,
153'i HS 148 118
(I5i 10 O'i
23H 25JJ 2JH
27 29JS 20!i
78M SOU 78JJ
8)f 0Sf OSif
08 OS 07H
07 08 COJi
OUi 03!f 02
07 70 (7ii
Ur
Ami 1183f 118
10
25M
20 If
tow
OStf
03
07H
G234
G9Ji
HSU
LklBt Plnl trte-h Iaw itM -
PlttsbufBh Coal. 30 .105.' 35I 30f
Pltljthllrph fTnil f 1111 ...
.1G0H 100 lfi2), 103U
Am Ice Securities..,
Am Llnsccd
Am Unseed pf
; Am Locomotive
r Ala Locomotive of. .
AmMaltpf.
Am Steel Foundries.
Am Foj ar Refining.
C5
. 00f
. C3!f
. 25M
. 21H
. 40
. C2H
.101
33
C
09H
&1
20
2IU
13
OOJi
101H 101
3i;i 3IH
53
09H
63f
23i
21H
40!f
03
5.1
09M
20
2 Hi
43
mu
101H
.'11!.'
104Jf 107 101! 107
. 0OH HV-i 55 57
.115 110 114W 115
Am Tel Tel 12714 128 127H 127K
Am Woolen pf tr r.... 02 03 03 03
AmZL Smelt C0K COW CO C0H
a ABteonaa topper ban bsm baa bv
its' Associated on G7H mi
!, AtchT & S F 100H 107
il. Atca T & S F pf 09K 99H
',-; Atlanua Coast Una.... 113 115
"l Baldwla Loco 100U 113
i Baldwin Loco of 10.8 1118
MA Baltlmoro i Ohio 04H Ol'f
, , i Baltlmora & Ohio pf.. 70H 70!X
i 4 1 Bank of Commerce .. .178 178
TlitrmtUi flnfntr llf Olf
Bethlehem Steel 43o' 455
terooklyn Rap Tr 87 87M
"JBrown Shoe pf 09! 091
Pressed Steel Car.
Pullman Co
Pub S Corp N J. . . ,
Quicksilver
Hy Steel Spg
Hay Con Copper....
Reading
Rep Iron & Steel....
Rep Iron & Steel pf.
St Louis ASK... .
St I, South est of. .
Scalxwd Air Lino...
Seaboard Air Line pf. . 4li
bloss-Sheff S l Co.. 01 '
Southern laclflc 102
Southern Uy 23H
Southern Ry pf CAH
Studehaker Co 150
Tenn Copper ti7'i
tuu to ..i'i
1IH 111 111 111
58 01 SS!f 01
lOoM 107W 1B55 107
no 110 Jlflii lie
I I 4
10 301S 40
2I' 2DJ 2IU
82-f 8i; fi'JH
53Ji 5Hf SL'J;
108'X lOSJi 108JS
Mi fH 5Js
15 l. 45
18H 18'f 18H
41H 11 41
61H 01H 0l)f
VXUi 102 102tf
231f 23f 23 U
0JJ( OIK OUi
150M 152H 158Jf
CO 68K '5IIJ,
r-J L'U 22.1
4
am
24U
81'f
51 Ji
lO'
0
45
18'
. 7S4
tKMM) V V li.f a. inx'i A:,77
iJJI"' M v -"'v I'talW,' 10H4
P"? N Y City 4ls IDS. . imW
'-JKt.a 1. "lv 4U 19W ,. ""'"i
ftKino ,v v nn.. ref 4s . . nsi:
S Jior ,'." "rlor I" nxi,
?!S!! ! "r,nc Tei bs .. .. loom
J,'! i,Ubi'.C KorV J ' IM
-j!J!'!!,'',d nc,(ten.4a . . nil,
.mtt lien lr ft s .. . . ikis
41!! Ll.n.v PTrK?.'!"'"- nS
i-8t i.r .Vr:.?5
IiMi) ht I1ul M A M -His
)( Standard Ois (, ..
ikkh) Seaboard A 1. mil r.n
J000 south Hell f,s. J .
n,iioi South l'ac cv 4s ... ki
ISKxiouth Iae rM 4k . . K
..(Ki South Uy Ken l. . "IN.
Wltlrl South Hwj con ,1s ...l(1tj
it!J!!! J'rm A"" S' ' rc' " N"
liorat Texas Co c vh ..Hi
S 00 Thlnl Avj rcf 4a . . . Kl
IOOO Third Ae mlj Bs .. NH1
.10011 Tohln lis. .. . . ml
ItHHi Tol Pen & V 4s.. .. r,'i a
21000 V H Steel :.s linn
mm r s ov 4s noli
'21
R7V
J2.-ji
tw'i
ssl
nn
loots
iii:
71l!
SIJi
IM'
Mil
10l
10.V4
10CI
7"
a
Knthodlon Uronio pre!
j;n (ire .....
.Manhattan Transit
Marconi
Mldvala Pteel . .,
St Joserh Lrfvld is
Submarine lit vvv t o ctfs ....,,,. snii
World Mlm vv t ctfs ,,,' 2
Wealern Iliclfle 1.1
While Motors w I ,., roH
OIL STOCKS.
Casden is
Victoria a
M1N1NO STOCKS.
nutle c A Z v t ctfs
n
1SW
M
21
H)I4
21
41
.?.'
ir
loo
41
is
in
V"
81
20 West
47 V J er & Reash BO'l
PO Wm Cramp a s 8iH
i xotk hwv prei, no
nONDS.
list'prev.
. . .... . . sale. Hlh
j.u"u Aiiesnen vi s mp ihi
iUU Am li A .1 OS. , H1
7 cam s scrip "10 us
41 so II s steel
jii i; h jno
1-2
P.1J4
SStJ
r.i
U
m
iss
8",.
78'A
81
.1H
142
PIJi
loo
80'i
42
4V4
2S
18't
3
rv-,4
87
122
P54
40
M
74
0.1(4
!a
i8t
142
om
no
loo,
80'4
42
It
21
inj4
7n4
snv.
82W
4H
NORTHERN TRUST COMPANY
SIXTH AND SPRING GARDEN
PHILADELPHIA
INCORPORATED 1871
FORTY-FOURTH ANNUAL STATEMENT
JANUARY 1st, 1916
ei.. ,..ii sou 8iK nnn
Alco. ..1334 I17j; 1.1rtT1171i
Ire 07 J?. 07(4 nM
.tps'h m k$ " m
8IU
as
8i;
.K)
Hi
.13
Canada Cooper
Internatlontl Nickel
Kcnnccott Copper .
8
ri2'i
r.i
40U
20
not
2M,
n
in-tn
si
S4V4
7 do Feb ' i....l01U
7 do May 17....1011i
WO El & Peo Tr 4s. 82
2200O Lake Sup lno 4s 22
ooiin l.eh ,V con 4'is.loiW
1000 Leh V sen 4tjs. ..
looo lh VarT ref fts 02
nooo I'a ren 4Hs. ..101
pooo phwnt 4 noi4
C000 I'hlln Co cons 3s 00
4S.1 do scrip 1010.. 100
431 do 1018 . ... OR
looo Heading 8en 4s. 1)3(4
22000 Stand Oas Its.. 100
IV
IHl
OS
ion;
2-2
102
loij;
loilj
no
n H J
loo
ns
nsji
loll,
Lorr. Close,
trnn 00
ASSETS
Bond Investment Securities Owned.... 44...
Real Estate First Mortgage Loans
Time Loans on Collateral Securities.........
Call Loans on Collateral Securities,...
Bank Building and other Real Estate...
L-asn on nanu ana in uauns, , . i..
Accrued Interest.....
...
,4. ...........
4 loi;; loiu
i loll? 10114
po
08
82
20'i
102
I0t
.n7
101
ni
,PO
loo
PS
"Mi
'i
100'
on
08
82
102
101 JJ
po
PiU
100
PR
PIU
lilli?
MINING STOCK QUOTATIONS
TO.VOPAH STOCKS.
. 87
101
loot;
R.IU,
I00W
301154
ii'iV
I (VI
IK114
IK114
Jim Duller
MacNamara ...
Mldnav . . .
Mlipali KxtenVon
Bid
.1.12
. .02
. .14
. .22
WS(I fnlon I'nc cv 4.
iiovni 1111 llwjs S F 4s ..
2100 Vr, rs llrnivn llros.
lOOfK) Vn. Itwy 3s
.IflOli Vn Hwj- & 3s
BOTOO Wab.p T 1st ct 4s
2oco IVcst l'Jec cv 3s..
1000 West n A. M cv 5s.
101)0 West I'nlon 4Hs .,
4il'i
II! I?
.1
.113
.11JJ.
, I1314
101
J till'.
in;
in(.
r.i
i.'.Jt
Montnna 34
Northern star is
Tonopah Helntont 4W,
Tonopah Tlxtenslon 47.
iunop.in uninfc o4
Heaciie HuIr n.
1est nnd S3
OOLWFirci.I) STOCKS.
Atlanta 21
lllue Hull 02
llonth 4n
Ilulldor , .02
o o D :. 0.1
ComMnatlon Fraction 07
lIHIIIOIKIHPICl J If .. ..., ....., , .Kl
I'alxr 01
Horence 30
Ooldneld Consolidated l.oo
Ooldflcid Jlcrxer t7
lumbo Extension 1.3t
ICcnanas vn
tro 0.1
.Sand Ken Oil
Slltcr Tick loo
MISCELLANEOUS.
rarv Altec ot
Klmberly 02
Neada Hill y,
Nevada Wonder 1,0.1
14
Asked
1.13
01
.10
.2.1
.37
.10
IS
4
.10
.SI
.2.1
.01
.41
.01
.04
.O-l
.01
.03
l"l2
.10
1.9.1
.22
Oil
.08
.08
.0,1
.Ol
21
1.70
KI.KCTION NOTICI!
08)1 OSfi
locu man
lHK 115
105H u:i
10s 10s
. Bosh. Terminal.
: 3ntta & Superior...
if; Butterlck Co ,.
Cal Petroleum
65 ji niroicura pi...
fff), CnBdla Piclflc...
ft.t vaoc J . u in....
l.? C.mnt leather Hn
hUo Copper
i.ftltu PAnn.r .
' CW Qt Wejterr. pf..
. CM Sill A St Pia..
hOCC&StL
Jew it i & rc
,,tiBi c normweai.....
Cluett 1'ca & co
'.Colorado Fuel & Iron.
7051 70J4
178 178
410 152
132 132
87K 87H
09)f 09f
100 100
70 70
32 32
35! 37
07 6SH
" - iiituii; u u 9 n
TwInClty IiapTr.... 00K Ofilf onu o7iu
fi "... 5Je Pan" 7H 7 7H 7U
United Clear Stores... flli 0S nil ois
Union Pacific 1171? ifi .o2iJ .?i
Union Pacific pf 83 83)2 m 5?
United Fruit.... .... iITh ,40 J ,, M..
us inn ai,i,i - ioo.B ii'A U. no's
usindXicohop :::u3 i5 ms ?J,
U S cast I P & K.... 2ik- Jir "?S "
101H 0(1 101H
69JS OUf G84
111 109'i 110
170 108JI 170
153i 153H ma
13K 13 13Jf
47i 4(1 40K
2tii 28U 28)i
12 12
03 03
ilU 42
6SJf 67J5
52)f 53H
172Jf
475
12
63K
42
57H
53J
00X 100
. 75 70U
,. 31 32
. 35 37
. bOH CSW
.178H 170U 178H 170JX
. 8SU 811 SO 80
. S2M 52Jf 52)j 52J(
. 234" 21 235J 23V5
. H)i 54H 5-1 MH
. OUi 05)j 0554 05)i
. 39 3815 38 38Ji
.100U 101 100H 101
. 17 40JJ 40! 40.11
. 185J 10H 185' 10,'f
.133 132M 1325i 132M
. 72 733X 73 731
471f 49J5 47)( 4DH
ConUncntal Can 81H 83H 81U 83H
Consolidated Uu 142K 143 142i 143
Corn Product Kef,... 20H 2UX 20)5 21H
Cora Products icei or. 05 J J
J. Crncibla Steel, CO
;jtuaoie aieci pi iitj
HCuban-Am Suear 172f
J 'Delaware & Hudson.,. 151
rDenAIUo-tSrand HJf
ObtillenSecurlUa.... 40U
. Dome Mines 27M
DulBS & Alt Pf 12H
XleQStoiago Bat G3H
yrtc. ...... ....j...... 41JX
Brio 1st pf..., 57
I. red Mln & Smelt pf.. 52)X
Oeneral Electric 170JX 172iX 171
rixunl Motors 470 47.r 47.1
i- General Motors pf....U4 113H 113H 1KIH
OoodtlcB B V Co 71K 73W 71M 72Ji
Greene-Canaaea 4b)i 48i 48H 48H
r arct Korthera pr...,124!X 12UX 12S 12H
Q . .. ... .., .n. .n .n.
ui n cii lur.uto pjuy. isji h'j; 10'i -lu;.
Gyggrahelm Eiplo.... 23H 23)i 23). 231i
JOtoob cent 107 107X 107 107
lot Ailcultural 21 23)$ 21IX 23
Ut Arrkultuiil pf.... 57!i 62H 0)X 02) i
lotHarrNJ 100JJ 110 110 110
Int Harv Corp pf 107 10H 103 108
Jnter Con Cerpo...... 10JX 101X 19 lflji
lotar Con Corpa pf... 77H 70X 70Jf 785X
iBtatuUonal Paper... 1UI 11.' i 11 lux
f fttfiuUonl Pap vt., 48 49 4K 19
. 47 1 475 47 47M
.204H 212 205K 212
M M H tt dp .20 2i)X 20 20)f
latMMpf cidp,.., 7854 S0)i 78! BOX
rkn Cltr Southern.... 30! i 303 X 30)$ 30H
Ladt Steel.!,.... ..... Kl'i 833 bJH 81U
Valley 80JI 80?X SOH 80JX
ttaeUA Mjrcrs pf ..119H 119) 119M U9H
Lam Wwd., .22)5 20H 20 J J 20K
Muclokj Cof... 70 79 79 79
?MctyCopf ea eetf och eej
Uwwdl Maton....... 65JS 69 60 69
inn...- ta bu 89 sa
MullttoMaa pf.... 63JS 64!X 53 UK
Satm FMoteum....lU 113!,' Ulif 115
fitM Leu! 13JX 13!i 13).' 13)J
M St P 4 a M. . -124 1241X 124JX 124JX
jwau c ki in m
vMo lu 4c Tex pf..,. laij 16H lt))i
fMUOU VOWt.,,,.,,. 37 3b)i
i nciiB. an on
ifsctr cXs.... 6 6)i
' UmUU Fwm 75M 76
PUeeiMM Pew pf...lOOU 110
mX t ilt, .. 77)5 70Ji
K.i SwaeiAS.. .. 20JS 27X
Ml liiWll ft 8 pX . . 05 02
u im c4 oun
W ....1114 1131 113'. 11.''
ltJH34. 9 fl bJ,' 9
lttiel - 1S I5H 15 15JJ
l&Aii Brke..l4 14SJ H6 14S)X
., ... 75 7G 75 75M
kCirttaJ..Mim J10X 110 I10H
. ?m 20 30 30
120 120 UOIf 120
. 3 8SH 8S1$ MU
.JVJj 1I8IX I5 U(if
United ltja Invest
United Itys Invest pf.
U S nubber....n....
U S Rubber 1st pr .
U b Steel
US Steel pf
Utah Copper
Va-Caro Chcm
Va Iron Coal i, O...,
Wabash
Wabash pf A
Wabash pf B
West E &M
Western Maryland.,.,
Western Union Tel....
Wllljs Oierland
Woolnorth F w Co..,
Wooluorlh pf ,
Quoted tx dividend
113J5
Z1M
185X 17JX 18
30 34H 30
SSJl 55 C5)f
108 108 108
ban mat .n
'(f- A lWA "Z?
v. tjjm ill,, vi. ic
at ,01. .:. .."
10
. 30
. 55ti
110
85JX
(10
. 10)5
47JX
31JX
G6
3IJX
88)5
221
ISiX
01
lOJf
4SJ5
32
07),'
31
00
22J
17JX
CO
10JX
48
31H
;o
31
8S
VI I
18)1
01
1G)X
4815
32
07JX
31
00
223
FOREIGN EXCHANGE
SCT' YOniC, Jnn, 14. Tho TorclKn ox
chntiBe market opened sternly today with
but slluht changes In rates from last
MlKht'H level Demand sterling una
quoted nt J1.76U nnd cables $1,771-16.
Franc checks were $3.81 and cables $0.8314.
relchsmarks checks 6Hc. und cables
76'4c, lire checks $0.77 nnd cables $.7G.
In the mid-afternoon, the market was
featureless with virtually no chanso
from tho level prevailing onrllcr In tho
day. Thero was. However, n uto.n,!,.
dertone. Demand sterling wns quoted at
i.ioo-io ann citDies at 4.77. Franc checks,
6.8.114, cables. 5.SI; rcichmarks. checks,
16T,, cables. 7615-16; Builders for checks.
41'i; cables, 44i: rubles, a.80; cables, .S5
nnd Swiss checks, 5.18 and cables 5.17.
PSr UNION NATIONAL HANK.
V .. 1'hllndclphln, Pa., .Ian. 18. 101(1.
i,.'m 'i'!!".,!V.nl. m.'c!LnK. If ,,.le stockholders
held on tho nth Inst, the follow In named uen
tlemrn weto elected Dlrectorr to serve for the
ensulnir vear
JV. II. Carpenter S. S Marvin
Isjnntlus 1 J. Dohan .t. H. MeCulloch
Anron tlins . John C Martin
rneo. 11 Conderman l.ouls N Hnlelherner
llarlnn i'aie m. McAdoo. Jr.
Ilonicn T. lotts 7'dvard Wolf
lAn&VKJ.V."0,? l!enXy . ""ton. Jr.
Henry r. Mitchell Nathan T. I'olncll
Samuel E. Landls. ' ""
MrAJKIJ'.Ll" 3' IT DI"ctora held this day
-MP t iirrmnlar Hasleim. .! .i.n a ""-'
LloCar,dnof"Dni,rec,.onra.. ' Ch,Urmn" " thB
,d; loMr ?c"e:l!de,nt!w'LVuTh:v:
SnlelhcrKer. Vice Prrsldent and. Cashier: Sam:
uel Campbell. Assistant Cashier: Henry I
.Notary 1'ublfc. 8ol':"r. " K. . Williamson:
IX)UIS N. SPIELBKnOEH.
Cashier.
The Best
Preferred Stocks
in tho Public Utility field
nro so well safeguarded thnt
they can bo considered al;
most as conservative as tho
average bond.
1 hose who wish the maxi
mum income from good in
vestments should consider
placing at least part of
their funds in Public Utility
Preferred Stocks.
We will submit a list with
n short description of each
stock together with the prico
nnd yield to those who send
or all for List No. 312.
William P. Bonbrighl & Co., Inc.
MOnniB WISTAR STROUD, Jr.
Manager
437 CIir.BT.NIJT STflHET
Philadelphia
New York Iloston Detroit
London 1 William I. Donbrlght A Co.
I'nrls: Ilonbrlsht & Co.
$4,113,162.67
1.5B7.B9S.00
817.217.00
2,352,586.89
320.445.0S
643,071.10
20,600.17
$9,834,578.84
LIABILITIES
Capital Stock (Full Paid).i $ BOO.OOO.OO
Surplus (Earned) .-.....,.,..,, 1,800,000.00
Undivided Profits 218,289 04
DEPOSITS .111111111. 7,316,288.90
$9,834,578.84
The undersigned Auditors, "none of whom In A Director
Olllcer or Stockholder," ns provided br tho Charter of Incor
poration, lmvliip been duly nppolnted to audit tho Accounts
nnd Assets of tho "NORTHERN TRUST COXIPANT" for
the year 19115. lo hereby certify that they have personally
cxnmlned nnd verified the Assets enumerated Iti tho loro
BOlnB Statement nnd found them correctly stated nnd In
accord with tho books nnd balance Bheets o( said Comoanv
January 3, 1916.
William M. Stewart, Jr., 1
Qeorga T. Moxey, I Audllne.
Alfred R. Wlsgart, j uaiier
Trust Funds invested n aov tan nt
Trust Funds Uninvested (Includlne Principal and pi' "''. 53
Interest awaiting Distribution) 35429969
Total Trust Funds, $11,781,692.22
NOTE This amount does not include corporation
mortgages nor trusts of municipal securities, amounting tq
$16,522,000, held by the company as depository and trustee.
W. FREDERICK SNYDER,
President.
CERTIFIED
AUDITS
HEVERLE&HAY
PUBLIC ACCOUNTANTS
1034 REAL ESTATE TRUST BUILDING
Financial Aid for: Merchants
The MORRIS Plan of Loans and Investments
offers tho Idenl means of flimnclncr additions to store
or stock without tylnff up ready nssots.
Over $900,000 in loans. nlrendy mado at business
men's rates. Supervised by State Bnnklns Department.
Details on request.
PENNSYLVANIA
LOAN COMPANY
1507 Arch Street
LOUIE J. KOLB, Pret.
HOWARD II. HENRY, V. Prea.
It. LEO IIUXT, V. Fres. and Treas.
atoxtotontoiiiXMMWtfrm
RATES FOR MONEY
New York .
Philadelphia
Boston
Chicago
Cnlln.
l&ttl
1
""-HU liMf Af
iTi. "iwii " u iu u Jiiuiiiug,
ph!a JHrlii per cent.
Time.
2Uy?ct
3W .
t tnk
4 '
ei-
Phtladei:
r. takiv.h
Hon ell 'ummTng
BANK CLEARINGS
now mu uoh i"o
133 ISOi 12JU o3.
UH 12JH
Total nnlm.
13.700 kliurra
hurc; lat ucck.
J nnn t
? i!;?r F&Zgimi SKUSH
I.UU7.500 harrs.
iianK clearlnRH today comoarcd lth corr.
ponding day la.t to seara:
J'hl adelphla.mi:iii.;-,i 2Kt:t,nivi S.100VS dot
Sen Vork. 4M) iihn.njii "wCiaa in. 370 tm'.mt
CMciiko .... l,0..MH.DH JM.8MS07 W3aiMIN
t. U)Uls ... 111,1(14,210 1S,TSD,231 13:il:8JS
BAR SILVER
I'SP0' JW- .-:The auolatlon for com.
pence "toitey1; "'Uer advan4 -l to 27 1.10
... .-.cw turn Bluer was quoted at of cents.
)S3! Oldest Mank In America.
TIIK n,NK or NOItTH AMERICA.
(Nntlnnnl Hank)
.... . Philadelphia, January 13, 1018
,M. e Annui" Election, on the nth Inst.,
tho following namejl stockholders were elected
Directors of this Bank for tho ensuing- jcar
Wm. D. Wlnsor Christian
Charles II. Harding J. Honel
llarrv O. llchener W I.rn., oilllM
I.lncoln K. lassmora Hornco B. Smith
John P. Oreen Kdmird p. Henson
Wll llam P. Head Thcron I. Crane "
And nt a Meeting of the Directors, held this
day, tho following officers wcro unanimously
.AHarry n. Sllchener
Charles H. Harding
;Sa.mu'l D- Jordan
..William J. Murphy
uth,rd S. McKlnley
V -Charles M. Prince
S. D. JOHPan. Cashier.
re-elected.
President
Vlco President.
Cashier
Ass't Cashier...
Asn't Cashier...
Ass't Cashier...
w. 1
id V
.. rl."
MCALLISTER flIADE CHAIRMAN
President of Franklin Bank Heads
Clearing House Committee
The Clearing House Committor. r n,
Plilladelphla Clearint; l"oufl JiIe
Hon. which was elected las? MonC
j'eK 'SLSS3'10"!' antl elected
ii i'- cA'ster. president of the Frank.
Hn National Bank, chairman of the "ot
h.r Ar .icAIIIter W8S the wnklne mem.
ber of the new committee. As chairman
he succeeds Levi I.. i,ue, who fi
day was elected nrp.1,1.., ......' "
W h""" Association Edward F
";, President of the Foutfl,
Street National Bank, was re-elected
secretary of the committee. d
LIVE STOCK QUOTATIONS
CHICAGO
Pennsylvania R. R. Co.
Cons, (now 1st) 4 Bonds
Due May, 1943
Price on Application
JE
l Price on Application Iff
Wjtfj,'M&, . , r Z A mZi rsi 11 W
igr'ltlK '"JAUKK CITV NATIONAL
Ph,!a,'flp.,!", Jan- "'. IMB
At the annual election, held on the 11th
Inst., the following stockholders were elected
Directors of this Hank to serve for the en
suing year:
Louis If. Ares Reorge den. Kelm
Jomestl. nalfour .1 Hector McNeal
John I. Bishop Howard n. NIcholBon
Wm. H. Clark s. Davis Page
trcaencK t. unamller Michael J. Hi an
Charles T. Colladay W. H. Kharn
Wm. P. Dati K. c. Stokes
Chas. S. Hlnchman Ernest I Tustln
Henry S. Hale Maxwell Wjetli
At a meeting of the Hoard of Directors
held this day the following gentlemen "ere
unanimously re-elected, vis.:
V. II. CLAIIK. President:
C. 8. IIINCHMAN, Vice President
W. D. DltKLSrOItD.
Cashier.
u
TIIK CKNTItAI, NATIONAL .11 nk
OP I'lIILAIIELI'in "-
January 13th loin
At the Annual Meeting of Stockholder.
this Bank, held January UlhTlOIol the' foN
lowing gentlemen were elected Directors for
the ensuing year: or
T Wlstar Urown Charles K. Ingersoll
Ieorg Hurnham, Jr. A. A. Jackson '
William Wood Samuel M. Curwen
John Pltcairn Clarence M. Brown
Charles II. Smith Avery D Andrew,,
Henry W. Blddle Stevens TlUck.ch"
Charles Wheeler EugeHe l" Ellisou
William T. Elliott unison
At a meeting of tha noarrf . m. .
held this day. Mr. WILLIAM T. ELLIOTT
was unanimously re-elected President.
WILLIAM POST.
Cashier.
H.U7tt7.B.".: good 1
heavy. $il,4o7.1B.
Ili.20fnt.us7 bulk! 7
rough
Pigs,
Jjn. IS nnna . .
marker loailicr rf: mlH VKS,,,t..,?ii
hpavv IT -"
iiht. i'SHi..
ITIMl!' l. Ii
i:ai-ii.kt Hu. ... .vuu..
6?.."i.T"?ns. JBaOfiSM: call.. Ifto.ivJ'
?.'. ,?-:II.elPla. mmm. mafkit BiS.'S
111.11V1, snii
tflU.S5.
veceipis. uiut market itea.!
Western. tl.ii9T.bS; limbs" 17
lambs, 7,lji
Bombay Discount Rate Up
LONDON. Jdn. H. The rata of dla.
count of the Bank of Bombay was today
raised from 7 to 8 per cent.
JHHSPiyLP ACCOUNTANTS
Certified Tubllo Accountants
LAWItENCE E. BltOWNiro "
H15 REAL ESTATE TBU8T aun?n.m
UUUNB A SPEAK1IAN
The Bourse
DIVIDENDS
ALLIANCE INSURANCE COMPANY
3d and Walnut Streets.
Philadelphia, January II. 1B1B.
The Directors have this day declared .
dividend of Bfl.. payable on January 18
1016, to stockholders of record January 55'
1010. Checks will be mailed. ""nUBry U,
T. IIOUARD WRIGHT, Treasurer,
1854
1018
37Js
6
6
70
110
70 li
37H
03
GS
6M
10i
381
0f
OH
70
110
79,'
27(
WH
m m-mtmu
' Wit yf..,.-.
fadfie...
Ml VI
tt Vn
iu--.J
IWl
K 111
H 42
Advice
Individual or General
For a general review and fore
cast of business and finance our
monthly
Review of Financial
AND
Trade Conditions
furnishes all essential actors.
Individual advice is of greater
importance to those owning se
curities or contemplating invest
ment. We therefore invite in
quiry on all individual financial
matters.
I WHnlilftla
t&iZ
xiaasc, la
t$
!J&ij2i,m?iS-
SIXTY-SECOND ANNUAL STATEMENT
-. OP TUB
MECHANICS INSURANCE COMPANY
OF PHILADEIPHIA
OFFICE, JVos. 500 and 502 WALNUT STREET
(Company's Building)
Philadelphia, January 1, X916.
ASSETS
Bonds and Mortgages (first Hens on real estate) si 7 kqk nn
Bonds and Stocks ; - JjJJSsS
Real Estate oed by the Company , qr nnnnn
Premiums in course of collection , ' ? ""
Cash in banksand office .
Accrued Interest, etc. ,...,....!'".' 2167241
LIABILITIES
Cash Capital ., , $250,000.00
Reserve for reinsurance ,,,, ,,.,,......,., 747491.41
Reserve for outstanding losses f , , , 26,453.54
Reserve for taxes and other liabilities..... 10-964.54
NET SURPLUS
Surplus as tc Policy Holdor,,,,
$1,478,148.08
?l,633,009.4p
$1,000,000
Crew Levick Company
7 Cumulative Preferred Stock
Preferred as to Assets, Dividends and Sinking Fund
Authorized, $1,500,000 - - Issued, 81.000.000
Redeemable as a whole at 115 per share and accumulated Dividends
Dividends payable January, April, July and October 1st
Trustee of the Sinking Fund, Commercial Trust Company, Philadelphia
Free of Pennsylvania State Tax
Application will be made to list this issue on the Philadelphia Stock Exchange. " '
r AAfC Sw-n-ariZ MaS.f0!i0W? ,frm r 1"" (a CPy0f which can bc ,,ad on application) addressed to us
from Mr. William Muir, President of the Company:
. The present Crew Levick Company was organized May, 1915, as a consolidation of the Crew
Levick Company, the Pennsylvania Paraffine Works and the Bessemer Refining Company, and at the
same time purchased the entire capital stock of the Warren Company and the Combination Oil Com-
trihutitiir nlnnts located .-llntirr tin. Aflnnti rt ...i : t? .
- ""- v-yaoi ami in liasiern Pennsylvania.
The Company has no bonded debt and none can be created without the consent of 75 of
the outstanding stock, nor can the issue of preferred stock be increased above the authorize'd issue
without the same consent. '
Net tangible assets, excluding all values-for good wjll, etc., exceed $3,450,000, or nearly three
and one-half tunes the par value of the preferred stock outstanding. '
Annual net profits, after liberal maintenance and depreciation for the past eleven and twelve
years of the two larger constituent companies have, averaged $174,942, or the equivalent of 17.49
on the preferred stock. The more recently acquired coiiinanios irm,r ,i, .. ,, : .. I.
$278,956, or the equivalent of 27.89 on the preferred stock. The earnings " o the Tr 'ar aft
consolidation will be in excess of $300,000, or the equivalent of 30 on the preferred stock.
' T!lC Pre.fe"edrftock is convertible at any time within ten years after January 1, 1916, into the
common stock of the Company at the rate of one share of preferred stock for one share of common
s ock during the first five years of this conversion period, and at the rate of one share of preeS
stock for seven-eighths of a share of common stock during the second five years.
We add that the Sinking Fund of one per cent (1) ,s cumulative, and in thirty-six years
shall either be sufficient to purchase all of the preferred stock at $115 per hare, or, if-invested in
other securities, to equal the amount of 115 of the par value of any preferred stock then out"
standing, t
j" The Company is now paying dividends at tjie-'rate of-8 on the $2,176,300 common stock
now outstanding. ' .
t,. 'LW 3etaiU in connecion with this issue 'li-e been passed upon by John G. Johnson,
Esq., Philadelphia. ' ' . r
Having sold qver 90 bf the above issue, we offer the unsold balance, subject to sale and
change in price without notice. at ' """
f ?? 9
9 ! 9 j
?444,238.5?
' 105 TO YIELD 6.67 i
ELKINS, MORRIS & CO.1
LAND TITLE BUILDING
. . PHILABELPHIA
T 'rS:" T" iTr ? W..5 " ''. TW W, - No, mrr.nt Tkelr Ace-w. 1'
1 l.t vit:
IWfe ks, jiuj,
-rzv-
T ,.T ,- , ,0 A Vfoa rtum ta VuKb g fc(wUM ; 5
SIMW J, MATW, Ihmiim WO WfYM mm,
JF i " " ?
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