BVSlK3f XfiTDfilt-HlAftSLHTA,. FRIDAY. JAtfFAItr 21,- 1516.
"IT
FINANCIAL NEWS
STRONGEST HOUSES IN STREET
HAD BUYING ORDERS IN LEADERS
Influence of Bear Raids of Yesterday Disappeared and
Stocks Moved Up Industrial Alcohol Leaped
20 Points on Dividend Talk
New York Stock Sales
Alaska Jatittn
A MM Hold M
Aills-CnslmM Mft
.Allls-Chatm Mb of
Am At Chemical .
Am Itot Rujaf
Am Bt fiujar pf
Am B fl A T
Am CUn , ,
Am C A F
Am Cos! Product
Am foal Prod pf
Am Hide & feather
Am tilde & h pf
Am Ice SecurltlM
Am Unseed
Am t.lnvofd pf
Am Loiomollre
Am I.ocomotlTe pf
Am Mill..
Am Malt pf
Am .Sraolt K Kef.
1 aldose
nl
2.1'.
2flU
7
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tllrh. Iaw. Close.
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4 ,N'fcW VOFIK. Jan. 21.
The Influence of jesterday'a bear rlrt riimi.ii 1.1. n.- i
m -l fc mUxma ! I -.!".. sm Willi. II1C l,ll-.HH "
rj tne :. """'"" """ '"". wnen i)fflp of the sironsest tiounen on the
Street had buying orders In all the leadlns Mmim, and virtually challenBed
6 bear leaders to again offer utocks at yesterday's low levels. The result wna
f thAt the whole market moved un.
One of the larRe.t commlsulon houses handling hlerh-rln.. n..rti.ni .il,t ! Am Smelt A rtef'pf
that nil through yesterday's selling It had bought 6000 share each of many I f 0 If i.n.?.dM
E different stocks, and was again In the market as a l.tier today. Am Tel 4 Tel
f The Steel dividend prospect was regarded as more favorable for the 1 Am Wool Ir r'
it declaration of li per cent, next Tuesday, and many offers to wager odds 1 Am, JJ!'0" ' ' '
r on that action were made without finding takers. 'J 5. j ' P u
It was current belief that ,me of the old-time plungers of 1907 and the Anacomh Copper
uptown bearish operators had oversold the market In yesterdays raids and ' Associated Oil
. are now anxious to get back slocks for the purpose of covering short.: but I W T 2 t .
l even ....-." .w,o .,c.c , ,mc ncpini supply tutu, they have been In Atlantic Coast Line
weens, mm niiuwii uy U)P WBy uaidwin locomotive rose four points,
'crucible Steel five points and Studcbnker four points In the first half of
1 the day.
That the war stocks are still the opeculative fnvorllcs was olcnily shown
Htt'i lfttlj loi'i Hli'
Hl H2'i 62 02!f
?( no'i $:( no
lOOij 17.V IC9i 174
11A 1 15', 11,1 ll.V,
UK It 10'. It
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22 23 22' ( 22' 1
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tt.T 114U H3tJ 114
127' 12?' lJ7'f 127'.
t71i M 4f' iVJ't
nv nfj m 117
1.1 lTi t.1M l.l'i
nmm expects
NEW BOND ISSUE
TO PAY WAR COST
Huge Monthly Expendi
tures Will Force Another
Appeal to Country
PROFITS TO BE TAXED
1 1 11 iiiijm imm f mi Hi 1 11 1 mrramamifii
Sales in Philadelphia
, In the ofternoon's trading, when Industrial Alcohol moved up from 1484. Inst
J night's close, to 168V4, a gain of 20 points, lifting Its' high record. One of the
room huioi " imiiivu iiiiMiH mis movement! snia tiint the chief factor
of the strength In this stock was that Us capitalization amounted to only
120,000 shareB. Of this amount 60,000 shares woie bought In block from
Distillers Securities, axid the buyers at one time held over 30,000 sharci, leav
ing only about 30,000 shares nt the most nflont on the mnrket.
For some time thero had been rumors around the Street of n coming
ilock dividend and of a ensh dividend to stockholders, nnd It was said that
notion In thlB matter was close at hand. It was hoped hy some of the specu
lative element that Distillers Securities would follow, and, although that
stock has been widely tipped for nn advance to 60, It was froelv supnlled on
fi a fractional upturn.
Twenty-seven Cents Did for Copper March Delivery
As high as 27 cents was bid for copper metal for delivery In March. Tho
demand for copper Into yesterday was very large. Kurope Is paying as high
- as IBS cents for April delivery. Some of the leading pioduccrs of copper
I metal refused to make any quotations this morning for April nnl May delivery.
f A sale of a fatr-slzed block of the metal was sold by one Interest for May
$ ihlpment at 25 centH a pound, nnd this seller made a price of SSU cents for
April delivery.
Hanks Gained $9,842,231 in Week
The known movements of money for tho week ended with the close of
( business yesterday Indicate another large gain In ensh, 9, 842,231, which com
. pares with nn estimated gain the previous week of approximately $17,000,000.
This week the banks gained net $8,148,231 from the Interior, nnd gained In
addition from the Subtrensuiy 11,694,000. These figures do not allow for gold
Importations. Tho banks received gross from the country $10,709,031 and
.thlpped J2.S60.80O.
Preferred Dividends Resumed by United Stales Cast Iron Pipe
The United States Cast Iron I'lpe nnd Foundry Company has resumed
dividends on the preferred stock, having declared n dividend of 2 per cent.
& out of cnrnlngR of seven months ended December 31, 1915. The dividend Is
Sa pnjnble In quartcily Instalments of ;J of 1 per cent. each, beginning February
IE, 1916. The first dividend will be paid to stock of record February 4.
St. Paul Bonds Three Times Oversubscribed
The 4 per cent, bonds of the Chicago, Mllwnukec and St Paul Railway
Compnnj, which were offered nt 96 and Interest by Kuhn, Loeb At Co. and
the Xatlonnl City flank, were more than three times oversubscribed. About
SO per cent, of the amount asked for was allotted to subscribers.
ACTIVE SESSION
it f 1 N N . Y . I K K
B& -
p'rTHigh-Priceti Issues Developed
Strength Driggs-Seabury
a Weak Spot
New York Bond Sales
NCW YORK. Jan. !1.-Hpeculatinn In
the irarkct for outslila securities devel
0Dd considerable activity, with business
V fairly well distributed over n wide range
.of lanuea. While some Irregularity wns
ahonn nt the outset, before mlddaj u
generally strong lone developed on n
better bu lug movement, especially In the
, hUher-prlced Issues. In some slocks.
reactions were anown on compaimivcij
mall offerings,
The motor issues were generally strong,
Chevrolet at one time showing nn ad
vance of six points. Chandler moved up
i points; Peerless fluctuated within nar
row limits. Lee Tire rose over Ave
IV points.
DrlggS'-Seabury was weak, declining more
than 5 points on small offerings. Hnnkell
& Barker Car ensed on ,J. Jewell common
fnoved up over 2 points, Mldvale Steel,
after a weak opening, rots n point. Sub
marine J)ont was up about "i. rialtlmore
Tube was Introduced the first time, and
after advancing 5 points reacted 2.
Oil stocks were comparatively oulet,
with tho exception of Cosden, which
moved up. Standard Oil of New Jersey,
after declining I points, rallied. Copper
locks were geneially Btrong, In sym
pathy with the metal. Kenntcott ad
vanced more than u point. Honda weie
fairly active but Irregular.
J. P. Morgan & Co. announce that the
are prepared to Issue definitive bonds In
exchange for their trust receipts for
Cerro da Pasco Copper Corporation 10
jear convertible 6 per cent, bonds upon
prmntatton of such receipts at their
ertlce, properly Indorsed,
.IO110 Maika (lolrt cv On
WiCO Amer Asr .
41x0 Atner Ar UI .
10m Amcr Cot Oil .in
10m Amtr Hide ft I. Ka
Jxxn Anxlo-rr i. ns
aoro Amer IV) clt 4
.vx Amfr Tel cm 4iia
"() Amer Writ l"so os
VTlOi) Armour Co 4Vt .
HMdO Alchlon ten 4.
IMlTO Atctllsnll r 49 1IHO
lftoo Aichlon lis . .
vxv Kilt it Ohio ill.!!.
ww nan ft itnio 41.
;,;no luit a oh cv 4V
I Kill tlait A O Sn'n :iu,
i'jmio llcih Ktfd rfrt :.s.
:iixft Huff ftoch K V
i'(k"Kl Csl Oim A Klcn .d
Kxi cent I ealher 1t .i
lono Crnt J'ac lit 4
".1HXI Chill Copper 7 ..
inrt) Chen & Ohio ci l'i
1 000 Ohrl it Ohio 41, .
VOOO Chl tit Writ 4
ttWO Chl II A Q joint 4s.
I'OOO Chl II u Ken Is
1000 Chl II tt Q III l'iS.
Kirxi c M & St I ten 4s.
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loan Del A llu.l cnn rs fp.lOIU
lfl Detroit Uillson 1st .Is. imvj
i'ono Din Becur Corp lis . 11
Vmo Krlo prior Is sil
1IX1 den Klec Ml Til
StjOua Hud & Mnn In os
llONI Indlsnii hteel As..
(MM ions Central ret 4s
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in
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ICOO Me 1'et Co 111 er
Amtr rjn.nrltlih Manufacturlna
American llarconl
AtUnilc Gulf preferred
Ajfx Rubber Inn w I
Allantlo OuU W I 3 8..
Csnsillsn Car ft Foundry pfd...
fhvrot Motor Car ,...;
si"ii Motors . ,,
CuUn Cans Sugar
cjmisl Aeroplane
Edan-Beibury .,..;.;., ,.
Rmerson mono "".!!! .
8V.?ount '
Hwksll A Parker Car
lundee Manuracturlns ..... ., ..
n Unutlonal Merchant Marina ....
jntirnatlosal Merclunt Marina pfd,.
lytMTUtlonal Nlekst new ..,.,...
' yr Sprl nne M i
Ktthodlon Dronza pfd ......... ..
Tw"aii,,TranVtr::". .:.:':::
Um Munitions ,,
MWvals steel .;.;.,.. , .
lElsvator .... . , . ,,.,, ,
K-t.i"y "tor
FJ."1; Enalne and Machinery ...
fr& ir"?"a ora ., ,
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jswi r ; " vwi u u viiti
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Asked
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BTANHAIUJ OIli SUIISIDiAIUKS.
& jffifii" .::.".::::::::::::.::;:: in' !-
sK?0" .......... ,..,,:,,.. to su
jsi:- . ::..:-:::::.".:tg? is
S O of Saw VorC;,. ...."" " 8-
ftUmera Oil . ,. I 6
liV HaBnlng', ...... .......... 04 M
"SUlpa ...... K's 1
Atlaau "1N1NO STOCKS. ii( 0
Spite & jjaw York iL
Sa'a Natlonll Copper " W . " . '. '. '. '. . f ? S
lafleld Merger . ..!. HH I
Jamba Kitenalon IVi klJ.
Sflley-Darragb ... .,11 ?,
vUiM." "" !l ib
tMJ'T1uV Uln" rump-Hi' 4
jet Ifad roiualldaiad ' '., " I?
gHlmo and OhloB&;'!'D.. . . Jui', lS
S gt l'ui 4( us'I ,W
fV.i Pc ... ..... ..tms? !
BAR SILVER
isUli'iWM1". '"' fr' -vr w tMw d-
4iHi Minn St I' S 8 M 4s. iil
T.M) M K i T I" 1
i T Ut
:m 4s .
WrfHl .In J1U
:'jhi M l'aclrtc rol As lilt;
2ixio Mont Power Ss
MKMI N V O I. H 3s ..
noon N V C & It 3i,s
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Hilduln l.ooo,
naldnln Loft) pf
Italllmore & Ohio
llattlmore A Ohio pf
Hatopllav Mining .
liethlehcm Steel
tlethlehem Hteel pf
KrooUjn flap Tf
II toon tthoa pf
llmnilck Term
Uurns lliov..
llutte A 'Superior
Cal rctroleum
Cal Pelroleum pf
t'anadlan Pacific
Cent Leather Co
Cent Leather Co pf
Chesapeake & Ohio
Chile Copper
Chlno Copper
Chlcaeo nt Western
Chl Ot Wcit pf
Chl Mill A St Paul
C M A fit P pf....
Chl It I & Pac .
Colorado Fuel & Iron
Col ft Mouthern
Computing Tab Iter
Consolidated (lav
Corn Product Ref
Corn ProducU lief pf. OS
crucible Hieei .
Crucible Steel pf ...
Culian-Am Suiar .
nclavare & IIudon
Den & Hlo rirande pf
uetrou Kdison . 110
DlsllUor Sec Corp.. . 40
Dome Mints 27!$
Eire Storage Hat Ot
Krie . ., , 30
Erie Ht pf fiS'f
Erin 2d pf. .... 50
Fed Mln & Smelt . HI
Fed Mln ft .Smelt pf . A2)a
Oh Chemical . . .300
General Klccttlc 172
Urncral Motora 4SO
(lenrril Motors pf..
tloodrlch II F Co
(loodrlch II F Co pf
(ireenc-Cananca
Orcat Northern pf...
(Iranby Consol
Ut Nor cfi for ore pr
Ruggen Kiploran.
Illinois Crnt
Int Agricultural
lnt Agricultural pf ..
Int llarr N" J
Int Harv N J pr
Int Con Cor t lesh
Int Consol Corp pf
Imp Con Copper 44!i
Int Papor Co 10M
Int Paper Co pf
lnt NIcUl t t eft
ok no r,TH n'
H7. R7i SOW .S7'
twi c, (W nn
10Mi l(Xlt 100't IOC'.
t,o ( nfiij 09. fm'
ll.'l II.) 113 113
107U 111 1071) "Ml'.
10s insij los'j msH
14 04'f IM'I !I41
80 TTI'f 70'X T9'
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142 141)4 140 1411
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64 eOJa 64!f 07
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4SO 480
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7014 71'. 71
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y YVES OUYOT
Rs .Minister of Public Work. Rlllor I, Aaence
Koonomlnup rt Flnanrlere
Nvtctnt Cable to the Kienltig J.erfoer
Pttl8. .Inn 21 When lie biotiRhl be
fore I'arllnmcnt hl plon for Inxlng tvnr
Indtiittrles M. Illbot, Minister of Flnnnce.
rvc some new details on thu v per cent,
lonn, showing Its success to bi even
grenter thnn had been thoilpjht M Itlbot
snld thnt Ihc tolnl of the subscription
eqiinlrd 15,130,000,00) frnncs, nt the pnr
vhiA ftf II.A I,, n 119llOnOlir frnnm
JJJ'V j nt the Issue, price. Deduct from this 71.-
i0,W0 frnncs snved bv those vvtio pain
their subscription! in full nt the time of
Inking their bond, nnd the, actual sub
set Iptlons to the loan equaled 12.6t8.iX,(XX.
of which $l,22l,WO.ono Is In now monej
Jt Is evident, however, thnt the himn
monthlv cost of the wnr will require thn
Government soon to Ond new resources,
and It Is probable, therefore, that the
Issue of bonds of nallunnl defense
will begirt again tint the next loan will
have to be speculative, with the amount
fixed In advance, nnd, ns In peace time',
subscriptions accepted for ninnj times the
amount of the loan.
tn any ense, however. Parliament lina
to voto Immediate ciedlts to pav Inter
est on the natlorml debt, and means will
have to be found outside of new loans
to supply thn' inonev
Tho first plan proposed Is to tax war
profits on a slldlnr stale The plan Is
actually In the h-intis of the Finance
Committee of the Chnmber of Deputies
now. It proposes to tnx tho excess over
normal profits, the normal to be found I
bv taking the average for thn years 1911.
1912 and 1013. In nddttlon, the Interest
on debts nnd loans, the cost of raw ma
terial, general expenses and upkeep of
plan will be deducted from the taxable
sum.
It Is estimated that the deductions pro
posed will reduce hy 5,000,000,000 franca
the sum left subject tn tax.
The Ilourse has been very satisfactory,
and tho new lonn well supported Thero
have been many offers of 3 per cent,
rentes to purchase tho now loan.
The bank statement shows little, change
except that there has been a slight In
crease In gold holdings nnd a. decreaso
in loans.
lnt M M cfs of dp . 2(Pi
lnt M M pf cfsof dp. 7KS
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HI
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1 116.1 V V Tel ven 4t.s
Mioi) Norf t West cv Hs
I.00 Nor 1'ac prior Is,
1K0C0 .Nor Fno gen .Is. .
ICO.) Ore Short I. ref Is
J 81 00 I'ailnc Tel 3s .
MOO rubllc Cerv X J it,
1000 Reading sen 4s
KtfO do re . ,. .....(
2Mtl Rock Island rfd ta,
4Cnn Hoik Iiland ns, ..
2000 St Louis 8vn. 1st 4s
3C0O Seaboard A t. adj it
)M South Rell Ss ,
IKUl 8outn Pac 4s ..
2700O South I'ao cv 4; .
Tiaon do cv ret f,P. ..
.tiiofiO South Pe rfd !
inono South Ry gen 4s.
IA1I11 ,ln ffxn Ra ...a
'"" M" .- ."..""o. I ..j. iHlli
lotsi 'term assii .'-'. - v.if
tax) Third Ave udl Ss,,,.. MV,
SonoTrl-Cit Be ..... . lJJy
ttitO I' H Rubber tls ,, , 1"3W
1:106b I' S Steel ,1. OH,
2000 I rt Oo ref i.. .in,
SOU Union Pac 1st 4s ,,- , BJJ.
8.UOO Wabahll 1st Ox,.;.' . I'11"
12IUOO Vh-l T 1st it Is. .. S
sax) West Md lit 4s .. , 72
4000 VeV t'nlon -,-, .,. WH
... . im taltl.floO. roinnared
iViauiM lestei.lari thus far this vvrek.
,800.
Coal Strong at Chicago
CHIOAQO, Jan. Sl.-Thc Black Diamond
.vm that the coal market fiera la sirong-
than at any tlm ulnce 1812. The re
cent cold weather caused heavy conaumii
tlon. Screenings me 3ft ;o lie. ton
hitrher The anthracite trade lertoct a
powlble uhortage before he ri-openlna
of navigation.
o Action on S(ock Dividend
miminri Jan. . Tli Jireciow or
the UeltogK
.- mxill hfl
on he atock dividend of. ir cent.
?" ommended by the ahareho dera. ptnd
n Tesal requlr.mcnfa. 1.4 expected
hat the matter will bo dl.p.ed of t a
meVtlng of the board next month.
NEW YORK BUTTER AND I&GS
t.t... viVIIK Jao. 21 ULTTBR-Markst
atsa3x .S,.?f ac Wibtr scoring. .Stc.i stata
ir"l.f"ioffl "c" lmlutrou crVsmery, .MJK)tf
l')i,, u.rt.t uk 0d unsettled. R.
Tf"S-sia'ia.cka"e" Eitr Jrsts. LVe31c.
Kan CltT iwuthern 28)1
Kan City Southern pf. 02
Lack Steel Co 80
Lchlfh Valley . . 70
Lake K i. W pf 40
I.IHsrett A Myers pf
Lorlllard P Co
Lout & Nash ..
Mackay Cos
llickajr Cos pf
Manhat Kief itd
Maiitell Motors MM OS
Max Moton lit pf.. . 87)4 88
Mai Motora 2d pr.... C2I4 Mt3
Mexican IV I rol cum . JIMIJi 113
Mex I'etroleum pf. 00 00
Minn & St Loul ... 7U 8).
Minn & ht L pf. . 20 20
Minn St V &HS M..12.) 124
Missouri Pacific .. . 5!i n4
MoTaetrcfi.. .VS 34
Mo Kan & Texas ... 0)4 0).
Mo Kan ft Ten pf . 13 IS
Miami Copper .'17)4 3S'
National Illscult Co
Nat Kii.im & H Co... 27)4
Nat Emm & S pf 02
.Sat Uad Co., . . 71 tj
Nat Rya or M lit pf 25
Nat It of M 2d pf . 7)4
Ner Con Copper . . l.VS
New York Air Urake 148)4 1SI
NVNntn . .73 74
N Y O II R
N Y O & West 2b). 2Mi
Norf & Western 110 HU'-i
North American . 7H 7Hi
Northern lMclflc .1I4T4 11.1
Ont Mirer Mln . 04
1'enn llallroad .. . .18 A8(
IVoplri (lai Chl . . 1(17).' 108
rtttlhone-Mulllken Hi n4
I'hlladrlphla Co .. 43 44
nils Coal Co N J . 34
I'lttl t'oat Co N J pf.lOOt,
I'ressed bteel Car Co . 57'i
I'ullman Co
fly hteel fe'pi Co
0it joflt, irisv. 1 Hy Con Copper
.Kb m I'rSSj !? . : .......
iteDuonc iiuu . niroi
Itepublia I A S pf . lOSJi IOS
Ilock Island . Vi
Kumely M Co tf dp. 13
Itumely M pr . dp 24! i
bt lAUlS 1 H e . A)(
St I. iSK 2d pf .. 7'
ht Louis routhaest, . ID
Seaboard Alt Line . . 1714
Seaboard A Line pf . 384
bean Kotbuck & Co..ls3
Nuth Porto It buj.,.14'J
Southern Pacific 101
Southern llr 22).
boutbrra Ity pf. ... ,. rj;i
Studebalcer Co IAI
'lenn Copper, , lA'i
Texas Co,,..,. ,?Ki
lexas Pacific K
Tia pity ll T . oai.
Upton, Dm 4. Paper ,. its
!0't
78'4
28
02
80
784
3
01
lit
110
II)'.
754
10
11
48
213
21
81!t
2H)4
62
r0
78K
3;
1201,' nn; no;.- 11014
170JJ 170J4 170)1 170'4
120 126)4 120 126)4
70 70 70 70
051 J IV0!. (1(15. dli'i"
l.'iDf 130)4 i:io)( i.'iojg
67) j
fc8
flStS
87's
f.2)i
ion1 1 1 in
00 00
7). SJ.
20 20
124 124
5 fi'4 '
.'i'ii At
6)i l). 1
IR IS
Yes, close Hlah tw Uone
M Amer rtwys pref P.VU on on on
."VO Hrl1l .1 O ft!)', ao ,1ft .
llflftO tarn Steel 721, 7A 70', 7.1
Ko Col Fuel 4V, v, is
iro con Tr X .1 71 71 71 71
770 nice Storaae ni M', tvl, tV4l
HO 1'rle .101, ait, ant, :tfi,
in Oen Aaphalt 70 70, 7n, 70
7.V Ins t-o X Am .V, 3,v, 2VH 2Sti
tl K,MoTf Tel Co 111 III, 141, tJ
202 !.nke fup rorp S', n 'i It
21 I.ehlRh Xav 7 ts't 7ii 7R'
.10 l,th Vnllei . 7n 70'4 7DU 7l'i
21 Lehigh Va Tr. 1st, I0.U III 10
140 do nrcf as ;n n( 1,
Ino I It mothers . In ip, ms !'
2i) Mlsml cnppei .. as as a.
It." North Crntrnl ai n 4i wi
10.11 Turns rtAlhosd. .IS'. .IM, .111, MH
ni r,i si .vifg, . n't pin, pnn niu
l(l do Bi ef . . SI SI M si
nil 1'hlln Eler 2in SH's 2S 2S
17.1 P It T tr ctfs ISli 18i, vi sij
.1 Phlla Traction. 70 70 711 70
.1 lleedlnt . si sl'v Sl siv
It do 1st rref 121, 42, IJi.
210 Tononah Hl . 4U i i, t
1.1 Tonopnh Mining n ",. is"-, IPS.
207 rnlon Trsctlon 41 (I IT. 14
Urn t'nlled tlaa lmi isn. iki s,n, sn
2fl?ft V B Kteel s.u, Si M 44
20(1 I n tnd Alco .1.11U 1S7IV, 1.11 1.17
1.1 Uelbsch Co 2' I2H I2i.
.1 VV ler Seaeh .Vpii, .ik .10', lot
10 VV t'ramp & 2U. si HI SI
PHILADELPHIA CO. REDEEMS SCRIP .
FLURRY IN CAMBRIA StEEL SHADES
Rumors That Proposed Merger Is Called Off Grtai
Coal Strike Feared by Steel Men Tohopah
Belmont Takes Option on Mine
WOOL AND COTTON
TRADE SATISFACTORY
Collections in All Lines Good.
Textile Mills Well Sup
plied With Orders
01
7H4
231.
7t4
l.)ls
J 80
.1
Dealers In the local cotton nnd cotton
yarn trade teport conditions satlsfactors'
In their line, prices being firm, with nn
upward tendency, according to It. O.
Dun A Co. Cotton yarn denlers report
that they nrc well supplied with orders
foi future business;, with Rood profits.
The local wool market continues to
strenRthen notwithstanding the Increase
In available supplies, there being- a steady
demand for moat nil uradea of wool. A
steady advance In prices Is anticipated for
all (trades nt wools. Collections in all
lines are reported satisfactory and con
ditions generally are In a desirable atate
for all concerned.
The textile mills report Hint they are
well supplied with orders, although they
are experiencing some difficulty In ob
taining desirable help, and In norno cases
mills report they have advanced wages for
labor. .Manufacturers of men's and boys'
clothing state that the spring business of
1916 exceeds that of the corresponding
porlod of the previous year, but they are
experiencing dlfUcultlea In obtaining mer
chandise to llll their orders.
Manufacturers ot cloaks and suits re
noit a little more nctlvlty In business.
their snmple lines are now out; they are
booking, It Is stated, orders for future
I business, They are aUo handicapped
1 somen hat owing to the scarcity of
Shirt
waist and dress manufacturers nntlcl
3714 -IS'.'
JJll-4 IJUJJ 11-3 l--l 1 ,.,,..l,n,ll. nrwl Atlvnneil nrlren
Hlir !. ' -." . - . -
04
105
3S
. 24)4
. M4
. H)
34' i
107
ftO
107
12
25
Slit
Al)j
Hit 2ht.
110)4 UO'f
7M4 7154
I14t4 It4t4
11)4 OJj
Wf (JS1J
ll)7 lOfl
54 54
42); 43)j
33)4 ::4i.
100)4 1IMH4
.1714 :si(
105)4 107
3) 40 1
-,,, 1 pntcd a largo season's business, but labor
!4v? tiouble have brought this Industry virtu--1
I ally to a standstill for the present.
,'.. j Jobbers of hosiery, undeiwear, etc., have
III1 ' stated the have had a good fall business
and merchandise with them Is also ad
vancing In price, and difficulty Is ex
perienced In getting certain classes of
goudB demanded b their trade
MARCH AMI MAV COTTON
JIOtltllsT BV SPOT HOUSES
Switchboard and tiqppl)
have not' a)i ei xbkhi action;
13
21
.V
7K
IH
17)f
30)4
1K34 18.1
152 150
414
Sl)
60'4
ias
14
13
24
5
7'.
19
17
K94
24'4
hll I
51h
108
13
24
AU
IH
ID
17).
3p)4
1Mb
152
,' .J'ls
at 6i
155U 151
now as'i
10 Di loou 101 1.'
22 I
BJ
(All's
69h
iOU
8
Wk
7.
0)4
70
206
K
06).
lii
O'i
70
211
DOti
7).
United Clzar .Stores. . I)i, R).
United Dry Uoodt pf 71). 70
Uoloo 1'aclilc ,.13(i ISfl'i 135Ji I3bJJ
Unloa PacUlc pf Kllj HSU 834 S3'.
United Fruit Co, ISSH 140). 13S).' 130)4
U 8 lod Alcohol HSJi 163 148)i lli(J
US lad Alcoaol pf..,112 112 113 112
USOU'tK 2l't 22 21 22
U 8 C I 14 V pf .., 51 51 51 51
Li cited tiyj Inr pf .,, ;! 341. '.AH 34)4
U a lluboer ., 54' 55)( 54). 55
V 8 Mubber 1st pf -107JX 107)4 107i 107i
U8btcelCoroa ... e3'i 84!.' S31i hits
trBSU-el Corpa pf,,. 117)1 117! 1I7M H7fi
Utan copper . .
Va-Caro Chem
V By IHiwer . .
vVatuxb
W abaib pi A .
VV atiavh pf U
V ei(ero Union Tel.
Vveit K ft U
Writ K A U Ut pf
tVhavUug & I, I-.'.
vvtily Overland
WlKonjIn Cestui
Wui.ntiiu Vv
Quetsd ex divldto'l
Total suUs. A19.OO0 shares, cumimrad srllh
K.&00 shares yeatrrdayi thus far till week,
,3il.suu siisres)
IMW.SOO 'Karts.
. 77M 704 77'4 70'i
, 47)4 4SH 4R). 48),
, 44 tstj 4K, 4SVj
. 15)4 10 JSf ISH
47)4 175 47)4 47),
. SDi t)' 'Mi 10 t
. 8'J), to', lOt, 10W
. 117), li.1), U.-)4 07
77 70 70 70
4 3 3 3
2I9S 220 218 2l
38 37v, 371i 37) j
UO 1IUS 110) ll
Mate .fflod last week,
l'o Build Two Ore Ships
BAtVriMQRfl Jan. 21 -The Maryland
Ste( Company ha obtained a contract
to build two or ship (or the Spacjah
America.11 Iron, Company, a aubaldlary of
tk IMHUylv.l 4WMi Caasy.
Temperntures Higher Than Normal in
Belt
NBW VOHK. Jan. 21 -With the excep
tlon of good buying of March and May
by spot houses, trading on the Cotton
Kxchangr at the opening this morning
was without feature March showed nn
advance, of 4 points and November was
up 3 points, while October started 2 points
lower and other options were unchanged.
Aftei the call, the selling, which had
been scattered earlier, became heavy, and
prices declined a few points. March being
the largest suffeier, falling T points. The
trading was dull however
The buying of the spot interests was
consldeied slgpltlcant, especially In view
of the fact that advices from the south
and southwest stated there a. no In
clination on the part of farmers and mer
chants to follow the recent declines in
futures.
Temperatures were higher than normal
In the cotton belt this morning The map
showed general rainfall, with the excep
tion of tho extreme northeast
The market was steadier as the day
advanced. Liverpool became a moderate
buyer of March and July contracts, while
there was considerable scattered cover
ing and a little demand fiom local trade
Interests. Active months worked about
6 to 10 points above last night's closing
figures, and the buing seemed to be
encouraged by bullish tiouthern spot ad
vices and by the weekly Liverpool figures
showing a further decrease In stocks. It
was rumored that prominent trade Inter
ests had been heavy buyers of March
and May controcta for the last few
da) a, and when shorts turned for cover
ihey seemed to find comparatively little
cotton for sale.
Liverpool at the opening was about un
changed, against expectation of losses
of :it to 4 point. Private cable aald
the maiket waa a small affair, but re
ported a much better tone. "
res. close, -tx.eii man.
1 J U.1
IIMH
l'-'Ul
vj.ii
IStUT
January
llarch
IU)
JlilJ
October
IVevember
Spot . ,
IV.OI
IH 47
.1S.U1
I 51
IrMBI
l?:o
12.111
IS 81
12 (U
12 b
12 HI
I.o,
12 OT
U.IK
12.4.'
I2..-.1
12 .V!
12 CT
nose
r.Mii
W31
U.M
12 111
IJlA
12S.I
12 -M)
Liverpool Cotton
L1VURPOOL. Jan. tl.At2p m. future
were barely stead Quotation wet
Jaru-Feb., 788Vd; March-Aprn. t&JVjd,
May-June. 776d; July-Aug., 7sd. Oct -Nov
, 7 0)sti. The sale were WOO bale,
including &0O0 bales American.
The following ale th weekl" cotton
statistic. Dgures in bale Import, N.OW
Americans. 27,000. tock. 7S7.0OO, AmarU
cans, MJ.0M. forward M,JQ0, Americans,
W,0t. exports, 1W.
'Intnl Hjlca, 10.3,1(1 share. nminrc! nlth
JO.JI4 shares .vesterdnrt tlm. fnr this ekr.
Ot.OOS shares 1 same period Inst Meek, 77,730
hares,
nn.i)s
Irftet oro
sale
lltwsi Vni Has E .,. 112
;iomi iieth steel t,s
llsio Con Tr .V J ,. Ins
I4l Elec ; p Tr Is S2
ilXSSI llsro.00,1 El flu 102
1000 Key Tel 1st .-Vs. tW,
MWO Uh VhI sen Is P2'i
1000 ,lo ref fts tutj
IHOO Msrfket 8t El Is uai,
.12000 I'enna Ren 4',s loll,
IKKs) Mills Co cons Bi (i,
lOoo do 1st Ra Kill,
2ouo I'hlls Elee 4e.. Kit,
24( fin I . um,
lOOO rten.llng aen 4s Ml,
KKHi ilo Term . .
.mis I'n lt t v Is 7H4
.XK) VV NT A I' g 4s HP,
Moo York Hy 1st fis US
1O0O in Trac Puts Rs 72
."1(100 Va Power 4s .
Hlah l.nw lloe
112 H2 P2
ISO I I'd ISO
mil, 1011-, mm
im m" up,
10.1 lnji, tin
PSl, PSI, I1HIW
m. iiji, iu,
mi, ni', up,
W 0.1 IH
io'J mix. 102
tU', 112 12',
llllS, toll, IlU'-i,
Ml, HIV, !CI,
toil, mi iivi'b
UM. tl.1V, (IM,
lit 111 111
tr. 7ft "11
i2. r2 VJl.
Ill III in
111
ut
11 1
rolal sales, 1121,1100, compared with HJfl,
SJI yesterday 1 I It in far this week, 0J,O(IOi
same period last week, M 8(1,1) I (I.
Local Bid and Asked
Toilaj
- "Id 'Aaked
Huff 80s T C .. . S7', :isit
'1o Pf . .VI .17
llrlss. ,IO .Ill 10H
IDildwtn loin, no),
do prcf km losu
1 'am Hleel 74, 7(1
Elec Ktornae ill m
(leu Asp m .14
1I0 pref 70 704
Keiatonc Tel It 14s,
ilo t c J4 14.
ito prof us 70
tavke H'lt) Corp .... HK OY,
LehUh Na 7HV, 7n
lhlgh Valley .... 7MV 711
Ihlbh Vnlle Tr Ill IOU
do pref ssi, :m
Pennsylvania (W4 .IM,
Phlla, Electric 2JI 2SM,
Phlla Co 41 1114
lo !i tier cent pref . .17 .10
do 0 per cent pref...41v-j 44
Phlla II T lS'J IKi,
do t c 18VJ IR".
Heading HI'! HIM,
Tonopah Ilelmoiit 4U 4V,
Tonopah Mining .. .. S lft-111 7
Wnlon Traction 4 1', 41
tt O I niV. ii
U H Weol 84 84',
York liny 8 nv,
do nrd . .14 in
Win Cramp to SO 84
E dividend.
Veaterdav
Old jvskril
J7W .INV,
vi
.111
tll7
I07t,
n.iv,
:vi
t.ni,
14V.
M
US
7S
781.
Ill
:ik.
.18
28
.1'.W
III
10H
72J,
114 V,
.14
7I.
Ml,
14V4
10
II
781.
701,
1HH
:tn
.181,
44
I8V,
18K
81 U
4t7 .'..1-111
it!
"I
'.tilt
81
44
no
KHi
).
Ml
8,1
Financial Briefs
According to Tlradstreet's, cxporta of
wheat thlH wcok were 8,2t7,00O bushels,
Inst week, 9,615,000 bushels,' last year,
S,3,000 bushels. Since July !, 2M.043.O0Oi
year ago, 3:3,603,000. Corn shipments this
week, S0J.O0O bushnls: Inst week, 8,000;
last year, 674.000. Since July I, 8,234,000;.
year ago, ,320,000,
The Philadelphia Trust Company, trus
tee for the Standard Qas and Electric
6s. has given notice thnt It has obtained
800,000 by the salo of the collateral
pledged to securo this Issue of bonds nnd
out of the proceeds It will retire na many
bonds as n y be paid on with that sum.
Edward It. Tinker. Jr , and H D. Gib
son wete elected directors of the Poole
Engineering Company.
The American Locomotive Company re
ports for the last six months of 1915 gross
of IH.393.8W. an increase of J9.0M.630 over
the last half of 1914. A surplus of 11,932,-
740 was reported, which compares with a
deficit of ll.VS.SH In the previous year.
On January 1 unnlled orders amounted to
32,:0,000.
A new stock brokerage firm has been
formed by Frank Mauran and Spencer K.
Mulford, Jr.. trading under the name of
Mauran, Mulford & Co, Arthur JV. Howe
In associated with the firm. Mr. Mulfoid
has applied for membership on the New
York Coffee Exchange.
The Illinois Central Railroad has or
dered 94 cars, 10OO gondolas, 30) stock cars
and a number of box cars.
The Union Pacific Railroad, according to
report, has rejected bids on 3500 car be
cause of unsatisfactory prices and de
livery. Gold coin 10 the amount of JiW.dflO naa
engaged for shipment to South America.
J. B Edwards was elected president of
the Kellogg Switchboard Company, suc
ceeding L. n. Kellogg, who was made
chairman of the board.
C. D Harney & Co. and J. W. Sparks
at Co. bought Cambria Steel
The New York banks lost to subtreas
ury yesterday 160,000, and gained since
last Friday 1.69l,0O0.
The Listing Committee of the New York
Cub Market Association has approved
the following securities for lemporarv
quotation and trading; 100,000 shares of
the Carwen Steel Tool Company, par
value. $10; 25,000 common and 23,000 pre
ferred shares pf the Baltimore Tube Com
pany, Inc., par value, S100, and 10,000 com
mon shares of the Atlantic Steel Com
pany, par value, tlOO. All the aecurlllea
will be dealt In when, as and If Issued.
LIVE STOCK QUOTATIONS
CIIICAOO. Jan. 21 -Iioas-Recetpts. 45,000.
market steady and shade lower, mixed and
butchers. 1 0.1117.40: good heavy, 8.n.UiT.4i
roiiah heavy. ,Mli7?f.ln. tUht, JU.hoijT.M;
.igs.j-ir.ntjn.oo. bulk, 7S7.o.
CATTLE fUctlnts, 2V). market eak;
bestes. ID S5U0 25. cows und'tltlfers X.I.20
UN 2.1 Tcxans. il.4W(7 25: ..alvea. JT.751J11.
ailKEP Receipts. 8000 market cak. native
and Western. 17 MJ8.20, lambs, i8.504U,
DIVIDENDS DECLARED
Central Trust Company, regular uuarlrrb IV,
per cent uuiable February I, lvli), to stock
holder of recurd Jsnuary 20.
I IMropion Lopper vyutiipsny, t, .mii, iuks-
ny. an
a re
tabl r'sbrusry
nu.l I uer cent
(iA.l rahruurv 1
iCrlloasr tiKltctiboard Cumpany
.Ht.auje f.uuaif
ipa
15
reaular uuar
ji 10 stork
lmc HU declared since February 21 11)15
Oelletonie Central Ilallrud com
nuat . vvr ui
Isieied Vabruan
Kelloax Kltcl
terl a per. cent . pav
Standard Oil Coniuant ot Indiana, reaular
auarterly '! per cent ,
American lUIUais Company, leaular quar
lerlv H per cent, on prserrsd psvubtc tebru
arv 15 to atoik of record January 31
Arnarlcan Brass ComnanT., IV. per cent and
31. per cent extra, twvabl F.bruary 1 to
leek ef record January 10.
UIKECTOUV Ot ACCOONTANT
i CaetUUd fublla AtryanUaU
LAIVHKNCXJ E. BROWN & CO.
ltl KKAL EcTATB TRUfaT UUtLOlXq.
Following Ihc example ael by the Cam
bria Steel Comp.mv, the Philadelphia
Company thin morning announced that it
has palled for the payment February 2 of
both scries of scrip Issued in 1914 In lieu
of cash dividends on the common stock.
The nrst series Is due In Mnj. 1916. nnd
the second In February, 1918. The scrip
will be paid off nt par and accrued In
terest lo Kehrunrj 1 through the New
York Trust lompnn. These two fnvor
nhle local developments within tho last
24 hours might have been expected to
stimutnto the Phllnilelphla mnrket, hut
If nn) thing ihe contrrry wns the reverse
To bo sine, Phllnde'-rhln Companv 6 per
cor.t. bonds moved up fractionally, but
the mlnoi stock Issues nnd the ncilp It
self innrie- no response, vvhereaB In tho
ense of Cambria shnres 11 further sharp
drop occurred In the eatly dealings to
ilnv. However, nfter selling down from
"2' lo "014, suppott nppeared and tho
slock iulikl.v tecovered nnd before the
close touched 75. The scrip remained
Inert
The morning tald on Cambria was ac
companied hy a report that a lengthy con
feience had been held In New York lust
night nt which It had been found Im
possible to align mime of the Intel ests
Involved In the meiger and Hint J. A
Campbell had told friends after the meet
ing thnl the deal whs off. It Is more
llkelv, however, that the movement tep
resented n drive to loosen weak accounts
and acquire some cheap slock
tn the Inst 10 minutes of ttadlng some
SOW shares chnnged hnnds, bilnclng up
the day's total to nliout 20,000, The llse
from 7! It to 75 declined during that time.
Thero was talk todaj of the posslblllt
that the Lehigh Vnlley Transit Company
might liqiildtttn tliV ncrumulnted back
dividends on the prefored stock through
an Issue of serial debi-ntures. The cntn
Ings of thn compnti) have been .showing
marked Increases of Inte Tho preferred
stock moved up fractionally on the rumor
Tho Lehigh Valley Transit Company,
nfter nil charges, reported net Income for
the month of December, 1915. of $29,6.17,
an Increase of $19,752 or about 200 per cent
over the snmo month of 1911, nnd for
the tvvelvo months ending December 31.
$243,140, nn Increase of $H,972 or over If,.
per cent, over Ihn year 1MI
More definite talk of the possibility of A
hlg coal strike this spting wan heard t6
day. One of the high officials of a large:
Pittsburgh steel compnny made the state'
menl thnt: "The grcntost atrlkf! thl
country has ever known Is Imminent un
less the large coal c verntlng cofnpanle
and the I'nltcd Mine Workers of America
come to some agreement on a. hew vvngr
scnlo before April 1 " He added thnt iho
miners would demand n 20 per cent In
rrease It hnn been a matter of common
knowledge thnt the big railroad and Jn
dustrlnl companies hnve been storing cbril
for some time with n view of the passl
bllltj' of a strike. Tho retiiisjlvnhia
ttallrond in particular hns been fore
handed In this matter. Incidentally, It' Is
understod .that the Pennsylvania orders
for freight cars of various; description
will keep the Alloonn shops working
full rapacity till the middle of next sum
mer nt the lenst The latest order In
eluded 105 locomotives, 75 slecl passenger
cars nnd lino steel box cats.
There wns some tnlk heard In flnftticla!
circles that the Pennsylvania, rtallroad
might restore' th dividend rnlo to n. 7
per cent, pet annum basis this ycur
The resumption of dividends on. Pan
Hnndle 41ml Pennsylvania Company
slocks nnd the iikhicjk received from
Ihe snle of Us Cnnlhrla Hteel and Pcrtn
sylvnnln Steel holdings. It has argued
should pln'ce the company In 11 position
to mnke n laiger distribution. The
stock has ngnln been picked Up by
Investors nnd scored n ft actional arl
Vance. Announcement was made hy the Tono
pah Hclmont Mining Company that nti
option has been taken on the Hull Moose
property nt Hear .Mountain. Nev. This
Is a lovvgrnde ore proposition, but the
Immense deposits', It Is believed, will as
sure n fair return on the production.
The November quarterly report of the
Tonopah Mining Companv shows a sur
plus of $11.1,719, against $.39,920 In the cor
responding period of 1911. Cash on hitnrt
was $19l,:il2. Net earnings of tho Tonppnh
Placers Companj, In which the Tonopah
Mining Company of Nevada owne 831-3
per cent, of the capital stock, were $90,901
In the quarter ended November 30, 1013,
and $111,001 in the quarter ended August
31, 1913.
WHEAT WENT INTO
NEW HIGH GROUND
Buying Was Heavy Some Re
cession From Best Prices
on Profit-Taking
CIIICAOO, Jnn 21. Heavy general buy
ing nnd an nctlve demnnd for export,
following the switching of a lending house
that had been selling In the last 48 hours
to tho purchasing sldo of the market, sent
wheat Into new high ground for the
season today. There waa n great deal
of excitement. May touched nt $t.32'j,
compared with the previous lop mark of
$1.32 on Wednesday, nnd July renchei!
$1.213., contrasted with thn previous high
tlguro of $1.23. There wan somo reces
sion from the best nn profit-taking. May
ending at $1.32.. against $1.29 at tho
closn yesterday, and July at $1.25S. com
pared with $1.22H, yesterday'a last quo
tation. Tho rebound followed n reaction after
unexpected strength at Liverpool hnd re
nulled In u stionger start. Offerings on
the Initial bulge were enormous, nnd
May dropped to ll.Ws nnd July to $1.22?i.
which wero tho low points of the Bcsslon.
Commission houses then became heavy
absorbers and prices Jumped upward.
The spring wheat markets displayed
strength, nnd It was said that foreign
Governments were buying Hour there.
Minneapolis reported n bid from London
for 10,000 barrels un- the Dutch Govern
ment took flour there also.
It Id known that American supplies are
wanted abroad, but the tonnage situation
is a drawback. It Is believed thnt ship
ments from Argentina and Australia will
not Increase for somo time. Receipts
at interior points In the United Stntes
were liberal nnd clearances from the sea
board small.
Leading futures ranged us follans.
Yest'd'a
Wheat Open Utah. mw. Close close.
May . . 1..10 1..1.JV, Laos, l.H'-'U JX
July .. .. l.KHs l.-3i 1.22'J 1.2.1. "l.Va',
uorn mew nemeryj
2iay ..
July ..
Oats
Msy
July .
trd
Jnnuary May . .
July . .
Itlbs
January May . .
Juli
1'ork-
.M11
COFFEE WITHOUT FEATURE
Mnrket a Narrow Affair Brazil
, Opens Irregular
SniV YOIIK, Jnn 21. Tho cortcd mar
ket continued fentuirlcps throughout tho
first pnrt of the day, with buyora and
sellers opart The maiket, at best', was
n narrow one, nnd as prices nre easily
Influenced by comparatively few 01 tiers
cither way. both buyets and sellers are
showing n disposition to limit their orders
to specflc prices, as open orders have
recently resulted In quick nnd feverish
fluctuations.
Offers from Hinzll lontlnue Irrogular,
owing to the feverish condition of tho
Ilrazlllan exchange mnrket, hut U' was
the general opinion Hint shlppcru there
were inclined to sell, even at concessions
Tnil.ij's Yesterday's
Oncnlnc. Close
, . . .. il.x2na.Nl
11.t10no.02
liir.ttT.tlU ruiritll III
lanuary .
robruary .
March ...,
April .....
May
Juno
July
August . . .
Hoptcmber
October . . ,
November .
December ,
il.t'1
. '..in
:.,?:!V
T 2.1
T.OlMT.frt
t O5T.0A
7.107 ll
T.157,17
7.20H7.22
7v2,1ft7.27
7.:i0O7.n2
7.S.W7 3tt
7.W07.-II
7W; 701, 7a 70 1V.
78U 7l5 78 no'i 78U
52's M, .121. M'i t.124
IfltJ lU'n 40M. . !?
IO 27 10.11 10 27 10.11 10 41
10 la) 1U.S2 lOBO M0.75 10.70
,10.75 llOO 10.70 tl0t5 T10.H7
10 BO 10 75 lO1 10.72 10110
111 ST 11.12 10.H5 11.07 1 10.11.-.
RANK CLEARINGS
Itank rlearlngs today rnnipHred lth corns
spondlna tiny lust tr enra.
ini.i. 1:114 wr.i.
New York $1.12 4IH.7SII I27.1.M4, 1171 1IT,10,.Mg
Phlla. . . .i7.72N.r,en f.M,.i77,n7ii 2h .txt,2:t:i
Iloaton .. . Wl.ll.11.nil 21. 7SI.SII 20.181,441
Chicago . WIOM1.1IK.1 m,i78.4ll BI,O40,f3
Rise in Coke Prices
CONNELLSVILLK, Jnn. 21, - Spot
coke has Jumped up to $4,25 a ton at the
ovens, the highest price in many months.
Tho car shortage Is ncute.
.11.27
11.25 tll.lS
Iild.. tAsked.
19 07 21.00 10.02 20.50 19.0J
Lehigh Valley Transit Earnings
Lehigh Vatlet. December
Operating revenue
Operating eipen.es
Depreciation reserve ....
$S1,57.1 1,W1
03,211 1HB17
II..11S .1,8.11
Net revenue . .
Taxes ... . .
pperatlnir Incom
Kim-operating Income
Oross Income . . .....
Int , rent, mis , ded
Net Income , .
Tnelve months ended
Operating revenue
Operating xpinssa
Depreciation re.ervo .
net revenue
Taxgs
Operating Income
Non-operating Income
dross Incom
Int. rent, mis ded,
Net Income
Decreaae.
107..VI2
7S 012
(1,(mH1
71.1IH
11,1 IH
H2.2HI
M.lC!k
2u.ftSlt
ncemher rtll
..12,001,701 $22H.Ut7
Ohfl.lrn 42.727
170,2:14 W.AVI
1,151.227
W2.47.I
71.515
RlW.0.17
117.100
1,0011 1.17
IVUI.21X
313,llil)
03.391
1.14.2112
."1.01.I
13T..120
I4.7IIO
1W.12S
28.157
H3.081
, Easton & Amboy g
1 R. R. Co. I
M 1st Mort. 5 Bonds
Due May 1, 1920 g
Trice ou Application
An Excellent
Preferred Stock
Investment
The preferred stock of the
American Gas & Electric
Co. (par value $50), which
we offer at a price to yield
6, is protected by the
earnings of subsidiary com
panies operating in 74 com
munities in six Slates. Earn
ings are .oyer six times the
annual dividend on all out
standing preferred stock.
Because of the geographical
location of the subsidiary
compa lies and the diversi
fied 11' 'lire of their business
the sources of income are of
a particularly staple charac
ter. Send for circular No, 316,
which describes this stock.
William P. Bonbright & Co., Inc.
MORRIS WISTAR STROUD. Jr,
. Manager
437 CHKSTNUT STKEKT
Philadelphia,
.Vew York lloslon Detroit
London! William P. Uonbrlght & Co,
I'arlsi Donbrlght & Co.
Of Great Importance
All people rely upon the ad
vice of a good doctor and a pood
lawyer. We offer the advices
of good Bankers on all invest
ment subjects.
Our monthly list of approved
investments will bo furnished
on request.
Ewkd . Smith &.C
BAJHWCRS
Ears sua a so 18S2
11 inker. Nu fork ud Fllai.lMa
Slack Eichanott
Bius sua CuEaisur bra.. Piuu.
SO Plh Bluer Nsr Toag
Tradesmen Benefit by
1 he MORRIS Plan of Loans and Investments;
1 Through loan mado without tylnr up rvdy aaU
or straluiinf credit
S Through ea repament.
3- Through loans mide at business men's rates.
Over 1900.000 loaned thus far details on request Supervised by
Statu UanUlnif Department
rfcNNSYl-.VAlNlA
IMl'lS J KOLB. IVea
HOWARD H HtSNRY. V Pre
tt IICQ HUNT V Prtt ond Trra
LOAN COMPANY
1507 Arch Street
'1
tl
slartw nrstf.