PHpR
J, IJIIUJUH I 1DIIII :'fimPLlUl nip .gl'J'p.tfJiiHuniJ.llpppppi
LEDGERPHILADELPHIA, TUESDAY, FEBtttTABY 15, 101Q.
s
ija
if
I
.... U! EVENING
"financial NEWSll!
GREATEST PART OF SPECULATIVE
, TRADING WAS IN MARINE PREFERRED
i .. I.,.,.
' Ohe Broker Sold 10,000 Shares on a Single Order Price
t Dropped Sharply, Then Recovered Crucible Steel
Up More Than Six Points
New York Stock Sales
High Poinis in Today's Financial News
Maine Central directors declared an initial dividend nf $1.50 nn the
I iitio preferred stock. Conferences on propote'd new Itussian loan, amount-
ng to octween f.w.000,000 ana $100,000,000, interest probably 7 per cent.
Negotiations completed for one-year $18,500,000 loan for Argentina. Good
quarterly statements by Utah and Ctiino Copper Companies. Foreign ex
change market quiet. Pennsylvania Steel shares strong on Philadelphia
Stock Exchange. The common stock sold tip $17 as compared with the
last previous sale on February 11, 1915. Street had it that Schwab bid
may be accepted by Pennsylvania Haihoad interests. Wall Street under
stood that the new 20-year convertible bonds of-Midvalo will be offered
to public at 99. Midvalc received 95, Syndicate purchased at Oil. New
high prices for wire products.
jw yoiik. rob. 15.
1. Marino preferred occupied the greater part of tlto field In todny'fl Hpecu
Trttlvo trading, l'rom tlio opening until Into In U10 last hour that Block
Was offered in largo blocks, 0110 biokcr selling 10,000 HliatcH on 11 Hluglo otdri,
TvJillo other houses, often handling Important accounts', Including olio foiincrlv
'"tXJjresontlng the Interests of an Important patt of tho company, offeied the
stock at what, for a time, neomcd to be a flood.
From 71U at tho opening, tho price chopped to lfi"6, but on reaching thli
flfjuro thero was nn abrupt change In market movements. Huylng orrit'ii
Camo in Just as largo oltimo as tho selling older had pieviously been, and
TVllliln a few minutes a IHc-poInt rally occurred, making a recovery of tho
greater part of tho preceding loss. Tod.iy's selling wai lwed, to a great
extent, on tho published statements of tho ltrltlslt tlrncrntnont'H policy to
Incrcaso taxation and rcduco compensation.
Back of this, however, was tho disturbing Influence of the contest between
Jho two committees, and tho lower loels established on tho decline auto
matically forced liquidation of the specul itIo holding and added to tho presume
Whether the weak accounts have nil been closed out or not must for tho
t'mc bo a subject of conjecture, but In tho lato trading mote was said about
tho earnings of the company and of the addition of capital resources result
ing from last year's earnings of $40,000,000 and tho expected profits of $1.0,(100,000
during- tho current year.
Cruclblo Steel was In sharp contrast with Marino prcfoned. After selling
af76Vi in tho first hour, tho price roso more than a points . Tho movement
in, these two stocks wero tho most prominent features of tho Hading, but
"trio Injcrborough issues wero nlso foiccd Into piomlnencc, with the two classes
of .stock and the '14 per cent, bonds being pressed on tho market at con
cessions as a result of tho developments at the legislative hearing.
Tho general list was comparatively neglected, and such Issues as United
States Steel common nnd Anaconda, after frequent
showed Httlo net chango at tho end.
Alaska J (told Mines
Alaska Cloul Mines .
Alllt-tliilm-r Mfu
Allli-Chilmerj Mfg tf
Am Ab Chemical .
Am licet Simir
Am Hoot Sugar if ,
Am Can
Am Cm pf ...
Am Cat ,t Kilv
am tir a ttly pf .
Am Coil l'roducli
Am Coil Prod pf .
Am Collon oil
Am Cotton Oil tf ..
Am lliiio .. l..allier .
Am Hide A I. pr
Am he Srurliiif
Am Unseed pf . ..
Am LiKumnllu'
Am hocomnlho pf. . ,
Am Smelt A ItoC. ..
Am Smelt A Kef pf . .
Am Smelt pf A
Am Siicir lief ,
Am Sinnr lief pf .. .
m 'Irl A Tel
Am Tolnreo
Am rob pf new ..
Am Woolen lr rit
Am Woolen pf t t . ,
Am Xlnr I, a Srn . ,
Ameoml 1 Cop M .
Aoi I iletl Oil
A teh 'I up A H K
Alth 'Inp -S I' A Pf
llihlt-ln loco Works
Hilllnmre A Ohln
n.illlmnri' & Ohio pf.
aiopiiM .Mining .
Hellili lipin siorl
Iletliteluni Steel pf
llronkl-n Hip lr .
Hush Icrmlml
Unite A SuiHTlor .
Cil Petroleum
C.inacllit. P.ielfle .
( amillan Miillu fn
t enlra' Ix-illier
Centnl I.eiiher pf.
f hesipeike A Ohio
( hint. Copper .
C Idle t upper
ChleiMi (it West
C hli mo (II W pf .
( Id Mil A St p .
C C ( A St 1. .
C (' ( A si 1, ,,f
Cld A Northwestern
C Id It I A 1- ic .
( luil I Pea A f 11
Col Pud A Iron
COHsolltl itid (lis ..
ioiiilnint.il Can . .
( orn Piodui It Itef
Corn Prod Itef pf .
1 rut IDID Neel
II
2.W
HO'l
fWi
005
0o)j
(U51
II
23'
;toH
81'
7V(
"
Oils
Hi
100' i 100) a
70 i'
Jistcloe 11 IrIi. Low. Close,
Il'i 0J(
2' 2.1Ji
Wa ;u
. 71 71'f
mm -in
00 Ji 0315
. 0lf 02' i
.110 110
. 71 7Hf
.117 117H 117U H7 H
1(17 Km icovs ion J
v,h 1104 110H in;
. f.-4 MH fill) f0'i
.KM) 100 100 1IHI
, 1(14 10 10 10
, 104 r.i m r.i
:id ill's :)4 .'
U U IJ 2
(0 1.0'' l,V( ('0
,102'f llli.4 tO-'Ji 10J4
1014 1024 101 10J
lU!'' 1U 1114 lllt
.. IH 'iVi ili ";
...li:i4 Id IM 113
. 117'f 117 110 110,
. 127)1 1275 I27!i 1274
,. HI '.4 1014 101 tl t-S
.1004 1004 1(04 1004
... -104 104 IS4 104
.. 074 1)74 07 07
. 704 704 754 704
. . 004 004 S04 S0'
. 004 004 i(j4 "''US
101 1014 101 1014
101 I01?j 1014 1014
1124 li:i4 1114 1114
SS S7jj .S74 h75s
771. 77 77 77
ITALY CUTS ALL
TRADE DEALING
WITH GERMANY
Visit of French Minister of
Interior Yields Quick
Break
THE ALLIES ARE UPHELD
. 24 24 24 24
170 4004 -K'04 1004
. no i:n i.'H i:n
S"i H.-.4 KI4 '4
..110 11S4 1IS4 11S4
.. .n,' ,vi4 st( t-s
. .'124 :i24 :U4 :)24
. 172 1724 1714 1724
.. oS4 fs4 fiS4 oS4
ftpf W4 ".14 W4
..1005. 110 110 110
lii 024 (IIMV(.J
. fs4 fiS4 f74 BS
. 2.14 21 214 214
. 1.14 1.1 slU U
. iid ::n iiii ltd
. Ho4 034 !)" 0"i
,. 10 10 10 10
. . 70 "I 7.1 7.1
1304 1204 120 1.04
1!) 104 10 104
. 724 724 7J4 7.'4
. Ifi's 104' lfi4 104
Cruilliln stool nf .
nil suuii iswui ua uiiueii ,,... , -
, ,, , , ., , Cuban-Am sucir .
variation dutlng tho daj, i)cmi.r ,v m0 (Jr
Ditrolt Lulled Itjs
New HIrIi Prices for Steel Products
Notices havo been hent out by tho American Steel and Wliv Company of
nn advance of $2 a ton In all classes of who products. The wire prices aro now
higher than at any time slnco tho organization of the United States Steel Cor
poration. What tho advance means In the way of profits to Amciican Steel and
oWire, a subsidiary of United States Steel, Is shown by tlu fact that a jeai ago
wlro nails wero quoted at $1.55, fence who $1.35 and ,'.ilnnled barbed wire $1 S3
Tho National Tube Company advanced tho price of steel and lino pipe $-'
a ton on 12 inch nnd smaller, wlillo oil country goods aro advanced $3 to $1
per ton. This is tho third advance In steel pipe this year.
" S.alc of Properties of New Jersey American Woolen Company Authorized
jnUSGV CITY, Fob. 15. At a special meeting of the stockholdois of the
American "Woolen Company this nftcrnoon tho sale of propel ty and assets of
tho New Jersey corporation to a now company organized under tho laws of
Massachusetts was authorl7ed. There were voted about 375,000 shares of
l)roferredNHtoclc and 181,000 shares of the common stock In favor of tho sale.
Tho consideration Is $50,000,000, which will be paid In stock to the holders
of tho New Jersey corporation, and the 375,000 shares of prefencd and 1S1.00O
Snares of common New Jersey concern will ho retired.
' Rumor $10 n Share Offered for Controlling Interest in Ce4den
BALTIMOUG, Teh. 15 It was widely reported In financial cliclcs today
that an offer had been mado of $40 a shaio for a controlling interest In Cosden
Ji Co. Tho rumor lacked confirmation.
Initial Dividend on Maine Central New Preferred
Tho directors of tho Mnlno Central Railroad declared an Initial dividend
of $1.50 on the now preferred stock, pnyablo March 1 to htock of rccoid
February 15.
Dlimimil Match 100
i:il4 1.114 1.114 1M4
, SO 704 704 704
"'4 "J 214 22
0(1 i 004 004 004
77 S24 704 S'j'i,
111 1114' IK14 1U4
200 202 100 100
114 104 104 104
s.54 s7? S74 s.jj
LIGHT TRADING IN COTTON;
JPUKASED ACREAGE ItEI'ORTEI)
in
Some Covering of Shorts in March.
Receipts Smaller
itiNEiW YORK, Feb 15 Business was
tho smallest In a long period on tho Cot
ton Uxchnneo this morning, only eight
transactions being recorded on tho call
Tho opening tone was barely steady, with
prlcoa 3 to 4 points lower, or about In
Una with Liverpool cables There was
absolutely no elgnlflcanco to tho early
trading. Some covering of shorts In
Jfarch was no)ed, but hedge belling, which
1 many )mve looked for, was absent. After
the call the market hhovved an easier ten.
dency and further losses of 1 to 2 points
were reported.
Liverpool turned easier In tho later
ffadlng and prices hero sold about 5 to S
points under last night's closing figures
ilurJng tho middle of the morning. There
appeared to be considerable Wall street
and wire-house liquidation on tho de
fine, 'but tho offerings wero not heavy,
nfld. after selling off tolIOSo for Slay prices
rallied S to 3 points from the lowest.
Rumors of an easier ocean freight
ltuatlon probably helped to check the
decline, particularly as Buch a develop
ment might have been partly responsible
tax the setback In Liverpool, Repoits
from Natcber Indicated a break In the
JfUalsplppl River a few miles north of St.
Joseph, While the overflow at that point
was considered a serious matter from a
jrjiperty standpoint, It was not generally
regarded as likely to exercise any mato
iinl effect on coming crop prospects.
The easier turn to tho afternoon market
wH due to the selling of some 7000 bales
July contracts at 12.25 and 1-N21 by one
.broker. Hedge sales against spot pur
chases In the South weie also a featuro.
on the decline. Covering demand In
creased around the 12Uc level. Waco,
feic. wired,: "Grain crop being a failure
Jn many sections, cotton acreage in Texas
wilt ba increased considerably." Advices
from the Eastern belt nlso said a larger
acreage would go under cotton the com
ihjr season than last year, Arrivals of
cotton at "New York toduy wero 6201 bales,
Including 197 llntera.
Ye.close. Open, lllsrh. taw Ctoio
... . not u.&s una n.as ji.70
. ... U.15 12.1S 12.JJ U.00 U'.OC!
. 12 1-' '."J 12.10 12 18 12.10
12J1T 12 S3 J2 31 12.22 12 23
.. .. r.'.YS 12.1'J 12 40 12.41 12.42
. V 12.00. .,.,. 11,03
fttsrch ,
May
Inly
October
January
Liverpool Cotton
UYJSRIOOL, Feb, 15. Spot cotton to
day was nulet at 6 points lower, on the
basis of S 03d. for mid Upland The sales
aggregated WOO bales, including 4000 bales
American The imports were 21,000 bales,
sUl American The market for futures
closed easy at a net decline of 6V3 to
0 points.
NEW YORK COFFEE MARKET
SBW YORK, Veb 1$. The coffee
Market was Arm again this morning with
nt prlcil showing -alns of 3 to 10
lHtat& Sales on the call ware 4S00 bags.
Itlce continued firm throughout the
tlty QWlmr to svattsred buying- for trade
recount and in the upsenoe of more than
juoJerato offerings.
TotUK'" YektMdsy'a
essoins. " do
- mi
TUiTII
Tatar
ijauaSrve
1. 041.111
TJttfklM
Ali-tt
lW
tmt
iJKxtiia
H.IS
AM
New York Bond Sales
uivw Anglo r r. ',
S00O Amor Smelt "ce i.s
lnooo Amcr Tol clt Is . .
1HMI (111 ct It.
auxi Armour Co J'jm
JIIKKI AUIilson Ken Is
J(() do ,',
Jinn Atlm Co Uno Ht 4s
KIXI (In !t Ih . . .
MUIO rirtlt i. Ohio .I'.l .
10( do 4h
.1MXK1 do n IM . .
WO llusli 'Jcrm IlIdB Is
lisio c r C sen 4s
.'0(10 Cent Leather 1st rs
71MHW Lhlll Cddnep T .
iikki rhes . Ohio tv
Illch
. S".
Ill',
2l5
lulVj
. II"
1(1111,
. 112'J
'IP.
111,
llj'i
111 IVj
II"
111'j
I 'lose
lll
111',
L1MIII Phna A. tlliln Jl(.
1IKVI Chi & Alton 1'Cs .
(JXI I hi lit West 4
MMK) chl II & ij Joint 4a
.VIGO Chl II .t( U.M1 4s
MO Chl II tc It nit li
till,
.. 1121,
. us
7'iJ
1112
1 12'
IV,s.. S7i
HUM 3 IliOl,
!'-'!; 2'
s" S7
UN, til'i
112 H21i
117 lis
sst, SSI,
7!1i 7'H,
102 102
1 12 1 12
OS'S
III
lisl.
11100 Chl Mil Hi St I dll Is 021;
-mm chi Mil 4. st v li ri io7i;
200(1 Chl Mil St I' lv 4'4 11IIU
1000 Col A. South 1st 4s IIHh
(10(1 Col I" A. I ceil 5s . HIH.
looo tlel Ac Hudson Is lull! 10OV.
toon Del A; Hud rfd 4s.... IX.'. j
2lKl Den A. Itlo (lr Is . . 7S
U(l lien A. Itln Or rfd .',.1 r7
loon Detroit 'lunnel 41, s . 0.1's
WHO Oetrolt 1'nlted 48.. 77t,
Ihmm Ills becur Curp .Is ... 721,
WKXi rrla conv 4s her A . 711,
loon i:rio prior 4s Ml
iomi Hrecn Hay '11 ' .... 11V,
-MOO (Jen i:iet deb Cs 10141
1000 (Inat Nor Ui . . . I'i'I
7000 Hud A. Mini In '. .. r.l'I
ivmn 111 btosl deti 4W.s .. I2,
21X10 Indiana Steel Ss . . ..10.1
2(Jimi luwa Central ref 4s . Jl
120DO Intel h Met 4' . .. 7I,
2Ki() Interb It T ret Bs . im,
22IM10 inter Mer Mar it .. liTf
201V) Jap new Cl s 41-.S. . 7l'i
2000 Jao 4'is . ... SlJ
.K4K) ltrka tcel r,s 11)2.1 luV,
V4m laieka Hteet Cn 10'id . IIVU
1000 Ih Val 413s .. .
SOOO Ug A. M T ' . .
200(1 l.ttr A; VI T 7s
1000 lying Islani rn 4s ... li
11KKI minu St I. 4a . ill
U Minn HI 1' S S M 4s I) IV
2000 M K & T MJs .. . .311
HKH) Mo l'ae 4s ,. 4 J
HUM do ct ... 42
vnitl N V Conn 4'tS . Ho
42.1000 N Y Cent lis ...nil,
axx N V City 4s 1D.M1 . Hi.
12000 N V City 4V,s Itlli) ..10211
jixhi iv x uuy h.s iixo 111,1,
1000 NYC 4V4 May ST 107V
1(100 N Y flas 1l S. 1 r,a .lCKHj
iiiftNt in y n it a: it us tin
HOno N' V liny re 4s .. . 77W
liNHxf ri 1 jiny auj ikt .... irjv.
j -mm, , 1 iei Ken ia . irj..
axun) .Vorf . West Pocli 4s M5
100(1 Kort & Went 4 . W
4011O Nor l-ao prior 4s . 0HA
mxmi ior i'ac Kon H9 . . iripv.
wii uro itwy . N con 4s 0111
soon Oro & Cal B . 102'i
liilKi 1'acltto Tel 5m . . ..101
4000 l'enna 4 1918 .. .. I)v,
UMMl do Kon ct 4Vga . 1H2K
i.MHI .1(1 in 4t.B llllLt'.
stiuo Publia b'crv N J 6a.. noli
MiflO Reading Ken la ... U".U
4000 Ken lr H Si 'fit
3000 Hoik Island 4a .... 8.1
10110 Hock Island rfd 4s.. U7U
110OO St ! M & M 4'u.. 10.1S
30011 Seaboard A I. adj Bs in
"OOO Hon lh Hell it .1111
131 XX) South Pas cv 4a ... 80
BIOOO do cv ret t v s..infi'
SOOO South Pac rtd 4s . , IK
1V)Ci(1 South Ilnv aen 4a tvk
7000 Koutli llwy ion in lltttf,
ihu 'luiru av auj
MA(U 'lOklO 0
lllli
'-'t
1IS-IJ
HI
HS1,
llJJj
107 li
inl
Wl
11.11.
lOlfK,
1KH.,
771,
riinj
in'J
ll,
lopl
IIJ-V,
il'i
U214
iai
r.n.
7l"l
100
HVH
1I2-I
ll.li
72" J
list;
in
hm.
H2i
107i;
101'.
Ill's
II IH,
1IMH,
111,1'j
7K
r,7
in',
77',
11V,
71 'I
Ml
II f,
HU1,
IIW
Il'i
U2i,
iai
10
71',
ici'i
U7
4',
KI4,
101 Hi
1IV
l(ll4 101 HllS
101'! 10.11; 10.1',
121 '5 12(,'5 1l
IMI
111
nil,
:n
41
42
100
11114)
on
111
tn4
S')
4.1
42
1(H)
inij
111211 111."'
11171
111,1'i
SfiOOil Trl-Clly Bk .. . ,
MOD Tokyo & .,
SIHM II S tMcel Sri a(
1U30 Union Iac 1st 4a
10M1 ITnUrfi l'ae rtd 4s
1000 Va Car Cbm 1st 3a
2KO a. Itwy Ss
C0O0 IVaUah 1st Sa .
WOO Uab-r T 1st xt 4s..
mb Weal Md lst4a
SOOO fVsj Hnore rK 4s
1071
nil. 111
7J(f 77U
mvj nit;
M-y NIV,
tuft, navi
i ui on,
IJH, IJ1-
til4 till,
102'i I02I4
lilt 101
WW Ut)
102W. lltt-
1(XU, 1001,
WMS uou
or.t. li'M
uw. any.
1'itt fiv
1111 101
I l hi)
K 1I1AV una.
', 1024T J02
rv UK ki
7U 7U 7!)
Sib BS1 w,ft
7S 7S 7RK
105 104 HW
"Ti OT 074
01 Ql at
UK Ub DM.
Z mil uiC.
H 1R '
1 1
9X1
,OJ
SI U slS;
NOTES OF THE RAIL
A new tl.009.COO tMnilual at New Orleans,
to be uwsd by tlw Txa and 1'aciflc, the
MUsouri 1'acilW and th St, haulu. Iron
Mountbln and Soutliarn. was formally
Jadlcatod yetrday Cremonls were
nartU'lpated In by Government and rail
road ottU-UI,
Urdeis for i locovtlv of the Santa
'e tjpe are to be placed by the nsrar
will Ldlce Brie to cows wttli ttie heavy ore
tratftt toe ecajuaay is tiandlluff.
(lU 'bj'i
70 71
11IIJ5 111)' 1
17J I7'3
71
ll'f
ld'j
Kl'l
1",
71','
L'fi'i
, 71)
r,o' ,'
775 s
MID
01
.111
1')".
, sflH
KM
.71
MM
hS
.'ir
10'J
.11;
7.1
lll'i
17
fi-Uf
in',
71'.
JT
7S'i
.",()',
7s).,
21 ill
!)()',
,rr
li).")
H
15
:i7'.
ri
7l)J4'
s.S
r.i
liipj
0'i
lS'j
;i7'
r.i
'j
Dlsim --ec ( onm . I71f
11011m .1111ps . . L"l
J;'1'' 171 j
l.rlo M pf . ,;il
l'td Mln .1 s, Pf . fj
(ten ( Irnilcil 200
di'iirral Motors if .llltj,
(loodrlih II I' .. 72'i
(.ranlij Lnnvil . )j.j
(rtont'-C iniiipi II)
droit Northern pf 1L"J
Ct Nor els for oro pr 1(1' 1
(iikkcii i:x)ln . 21'f
Illinois t mini . ..
Int Vsriiiillncil pf ..
Int II in Corpn . . ..
Int H.iri N J .
I at C on t or 1 t e li .
Int Convol Corp pf. ..
Int 1 ipir Co . ...
Iusp ( on Cop
Int NlrKil I t (f . .
Int M M ifjof dp .
Int M M pfifs of dp.
Kan C'llj fcoiitliprn. ..
back strel . ..
l.i i Hulilier .V 'I Ire
Lehigh Vallej . . .
LlBUPlt Mver :
I oosp-W lies II 1st pf
Loose-VVIIeb II 2d I'f.
Lorlllard 1' Co . .. .
Mick 11 ( os
Manlnt Kiel uld .
Maj Dept stores
Mavmll Motor . .
Miv Motors 1st pf
XHv Molors 2d pf .. ,
Mi'Vlriu IVIrolcmn .
Minn .. st Iouls
Minn .1 st I.nub pf
Ml mil Copper .. ..
Missouri I'irlfic . .,
Missouri l'ae lr cfs . ,
Montjni Toner
Mont 1111 rower pf ,
N.tt Knun A. Co
Nitloml l.o id . . . .
Nat Itjs Mex 2'1 pf .,
Nav Con Copper
N'cn York Air brake
N Y N II A. II
N V V .. II It
XVC1 St L 1st pf
Norfolk S. Western . .
North American .. .,
Northern larlfic .
Ont S1U or Mln . .
1'ennsjlv.mH It It.
l'eoples (las C hi
I'hlUdclphl 1 Co .
Pitts ( 0 il Co .V J
Pills ( IMl J Pf .
Pitts C V &. St L
(luirksllier ....
Uiilikslher pf
iiy oieei i ui
Itay Con Coppor . . . 2'tJii
Iteaillnu- 70
Heading 1st pf 1,'IH
Itepublie IAS fflj,
Ilepulillc I & S pf ....UO
Itock Island
Hock bland pf
St I, & S P 2'l Pf ... 7H
St I, boutlwcst pf ... -14
Seaboard Air Line . 17M
aboard Air Line pf ;IS
bliat rlzoiu Copper . .fl'(
hloss-shef , j, j f)i)j,
bouttiern Pacific .. ..KM)
Southern Ity .... 21
Southern Hy pf 6!Hj
faludebakor Co . ...lf.2),
Tenn Copiier S9U
Teian to 2121j 211
loxas Pacific .... 7
'Ihlrd Avenue ... (II
Tobacco Prod pf . lO.'l,
Tol St I. &. W Pf Klij
KlVi Kid
17 17a4
21) 21
:i7'i' :t7'j
M'a M'j
N.l'i Li I
lKl'f 11,1'i ll.l'i
7JS 72' 1 72' i
)7i (.7 117
I7'4 IT', I7'i
121', 121'j 121'a
lll'f 1".J It.'s
2IM 21', 21",
1(11.
IS
2'1'j
.I7J,
.M
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101', HM'i 101!, 101',
1,2',
70' 1
110',
l.'l'l
71
ld'j
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104 120'a 1201i
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S7'i
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70
fs
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7l'i
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im.
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113
:Mi
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S
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10".', 10(. KlVi (),','
8S 0fl 'DM IKIU
Htm UHi 117 117'.
. 70 70 70 70
.utf imh nan- nan
roi,
!s
Kl'a
1IS'4 HS'i
(.') fill
S'i 7)i
r.7,' r,H
Kit 101
12h 12
:m' ,tj
IDs Ilia
7!) 70
m r,
wi 1
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Sl'f
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H1
fl
110
1
'.
n'i
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17)
:i7ii
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.VI
100
m
r.o
154
con'
7
TU
in', fii'i
Tol St I. & W Pftf dp S
Tnln City It I
I'nlteil C Ijar .ston
United C isar 8 pr
United Ury hoods I'f
Union Pacific
U b lnd Ahohol
U b I nd Alcohol pf
United I'rull Co
UBCIl'iK
United Itjs Inv Co
Ua Ilys Inv Co rf .
U b Itubber .
U S Hubber 1st pf . .
U S bteel Corpn . .
U S Steel Corpo Pf. .
Utah Securities ....
Utah Copper . .
Va-Caro Chem
Va-Caro Cheni pf
Wabash
Wabash pf A . .
Wabash pf It
Wells Farso Eip .
Wet E & M -.
Western Maryland
Weat Union 'lei
VW)S (Her and
Quoted ex dividend.
0.V(
ill,
i.i i
0?.'
00
100
10
0
o.vs
0),
(.7
101
12
:u
101
70
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H
n
on
11
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a 1
so
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lilli 212)5
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iif
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111)
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II
171.
a;h
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21
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io2jj ioos iai, iai
KMiVJ 100 10(1 101
ID, 11M, llli
. 10 IK, IS,
175, ICJi 101;
. J-' 31 30
. 52)i 52f 51!,
.1071. Ki)J 1001, ion),
. t.J8 MSi SJU MU
U7H U7K UO;, U7
iu, i'j)i lUJ
. HU,' S.J1,' &
4714 -17K 17.
.110 lOOVi 100H wax
llli 14;,' HH 11),'
-liM -H, -liii
'i7H 28 27 i
JM Vl&H 125
07 t'8, C7
. 27j 27, 27i
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217 213 215
MS
184,
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11
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215
RAILROAD EARNINGS
CIBORUIA aOUTHHtlN AND FLORIDA.
PI rat week
February
UUi
111.082
Frem July 1 1.1M.610
ANN ARBOIt.
First ek Febraary.7 . t,848
From July 1 .. . '. . 1.081, Ul
laraai
N
GOVERNMENT BONDS
Bid.
2a of 1880 tf m
Ja nf lUQfi eouuau . . aai
Panama la rastataaad
I'unaiua 9a ',18 realatarad ....
(Unuuui uew Ha rt'aurad
t'uuuu ni, la toupeu . .
la of U1H legUt.riif
a of l.1! (uuuua
4a o 1.7 retflatered . .
it at W2J i9Utl .. ......
iflae
I7.MI
91715
tsaar
S.S01
A,k
laesi
no
1
io'4
m
ui
By YVMS GUYOT
IMItnr TAReiiFO Hrnnomlquo cl Plnanclcrc.
St.rclal Cdltc In tlic Kuntajl Lfrfocr
1'AHIS, l'ob 11 -Ailstltlo Orlnnil, Mln
liter of tlio Interior, returned Jeitrrdnv
fioin Italy, anil one Rood result follows
Imtncillatrly fioin tlio trip. ".It nppenia
Hint nil cnmmortlil relntlonn Had not been
broken o(T botweeii Italy nnd Ooimnny,
but now tboy villi bo "
It nppeniM Hint In the Cbainbcr of Dep
uties no one tontcitH tlio tax on war
piolltB N'tverllielc'i sueli a tax vvlll
cause tlio follow Im; coiiioqiionicB.
If vvai piolltH are tnsed war losses must
bo InilPinnlllpil If tlio Htnto taxes iiioIUb
on cnntrnetH innile by Itself It virtually
vvltlilinlils part of tlio luy nBrced 011. Tlio
tn wilt lnive a tetioartlve effect. All In
illvldii lis, llrms 01 romp.uiles ctiBnued In
cotnmoirlnl business vvlll bnvo lo bi omit
to liKiulsltlnn Into iliclr nffaiv) Ilstl
mates of the nuinbci nffoited bv tlio tax
vaiv fiom sn.ooo bv tlio (lovrinniriit to
2,000.ou0 bv onn 1 iputv Tlico Hjturcs
laclt pieclslon In icallty all persons cn-
Kiiged in commerce in bo suspected of
iiavliiB made uniisiinl piolltH owIiir to llm
will, nnd tlios( whom the liHiih,l!una
nvcilonk pan icly on beliiB iloiioiinceil by
soino one
If 11 wrnnp ilpilirntlon H undo the lax
c.111 bo doiibleil, tl lpli.it or iiunilriiplut,
and this would amount in conllKi it It. n.
It vvlll take until two vears nftei tho
end of tho war to deililo all coiitratrd
cases 1'iomoteiH nf tho l.iW cm miteecd
In IinvliiK It pissed, but they t itniot suc
cessfully niRito.tliat It will develop busi
ness 01 assist rieilll.
.Slngiitai llilngs me hcni(laboul war
piolltH. It is t-nlil, for cMiniplv, that the
I! ml. nf li anrr his lendeicd Ricut Bcrv
bea to tho Btato, (.01111111 ico and Industry
slnco tho war, but Iihh been well paid
foi It The fin la nie Hint tho bank's busi
ness in I'll", ncltnl It .1 pioflt of 21.3.,'..7''0
fumes, but tlio total tinned ovei to the
stntc iiikUi vailous fnims of tavntlon
and Used ch.irKos his been 2",()0!),i;iS
fiaiica, or OS per cent, of tho net piollts.
LONDON STOCK MARKET
New War Loan Expected Americans;
Dull
LONDON, Pel. 1. Trnillnr- In .secilil
tles on Hip Stock KschntiBo was fairly
lulsk todiv, and the tnno hi the 111 iln was
111 in, nntwlthst.indlnn H10 icoi.ciiliiK of
Parliament
It Is expelled Hint I'lcmler Asqultb vvlll
next week ask foi a new- wnr lonn of
piobably 1. Kl.OOO.OoO, makliiR l,9iJ,O00,00O
slmr ihp online. ik of tho wnr
Ainciknns vvere dull nnd lutlhied to so
lowin .Sales to Hie tie.istuy aio slowly
nil tlio wiine. Avnll.ililo paiccln havo
bi en biiKelv rxli iiisted Home inllvray
Bhnies weie Hi in, and Canadian and Ar
gentine lulls were hind.
Thcie vi.is Investment iiujIiib of Jap 1
luse Issues. About el.W00 was ills
tiibutPd In Japineso coupons toda.. In
p.imcnt of ov pi due Intel est Colombians
showed Impioveineiit.
l'usli buov.UK was in evidence In cop
peiH. I'lo Tlntos weio iw',. The Trench
loin dlsplajod stability, bclnff1 quoted at
FOREIGN EXCHANGE
NI1W VOItK, Tib 1". Tho maiket for
foielsn exchnnqo opened (pilct, but with
.1 Htendv tone Ktcilln' was a shade
lower, at I "' foi demand and 4 "t.'s for
iiiblis Other quotations weie not npprc
(lal.l cbaiiKcd, holnjr as follows: 1'ianc
tables, .'.S0i4; checks, ."S7'j, lelcbsmaiks,
75 H-lGfiVi ll-n., Iho cables, C 71; checks,
fi 71'j, Swiss tables. r 2 1 b . checks, S22,
Stoekholin, 2S .'".t(2iS0, i.esptas, ISftlSOj,
Bulldeis, 42'tilJ',4. Itubles vvcro stioiiBer
at 3n,fj32, lellectlnB Hie icported Impend
liiB new loan Vienna was a weak excep
tion, ISSOfilXKi.
Later tlio market was dull and practi
cally without chango in tono m (nida
tions. Kinnc cables icccdcd to u S7 and
cheeks to 5!7n. The market showed llt
Ho Interest.
RATES FOR MONEY
c.,11
14 A3
WJlt
1 lain
S'jfi'l
HTI
I iffHj
4 rut.;
, Phlli-
Ncn Vnrk ,
l'lill idolplila
llnsttm
L'hiniRo . .. ... nt-ni
rommeril il paper, thrco to six ninnllia,
(uiii, 1, ,,'jtu pt'r (ctii
RANK CLEARINGS
Hank tli.tiliiKs today compiircd wltli lorre
tpondlUK dty list tno M-ira
loin ru-, )(,n
I'hllnilelplilx $V I'liO .01 J.II IIS "d", f 11. li-, 1117
Hnatoi Is.Tli. I'.s I'lioin :nt ! 1 l.-, 1 7ns
Now York .nJ.',l",s up. tljsiiffiij 3 n l ihis
OilciKo . Tl.'iklill'i in, ..ii'Iit r.s tv,.7s2
ht lillls . 1I.7 0 7IU 111.10 77", l.'nsonal
lUltlmoro . 7.SS.MIH ii,iikii o,i'l l,"Ju
LIVE STOCK QUOTATIONS
oiiifAoo, lvb is linos -rtcicipis, moo
market Se nnd 10r Inwcr mlxeu nml hut, h.
rr, JiVKiS'Mi, kooiI, hrnvt s I'liS .0
roiiRli, Iipiu. TWi'iSO-,. lUht $7TO,iS2"
pics. fnillfitIO, bulk 7 0V!,n:o
I'A'ril.l: - lleelpla, W1011 mirkot. Btcuilj
lilfVM. Xtl(t,llll) inwa aii.l luirirx t,l V(
s 10 Btnikira n,ul rpuleis ?3iTi7V. Toxana
$J1 .'Jlfl s lit. ,.,Uea. J'12Vll ' ,ui"""'
Hlli:i:i' Iticplnta. IIIIO11 mirbi .!,,(
nuiiH (tini I'tfiurn, aijfcia limbs,
till .'.0,
t1
DIVIDENDS DECLARED
Sinii'tnril Oil I'onttwny of New Jcrt,e,
iuaritrly f.". u share, pijal.lo iluri.li
lioldora t.f retord Tebruari I1.
Uulney Mtnlns Company, quirtcrly. JT psi
nble Mireli '.J, in atutk uf rtmrd February 3T
bl.unl.inl (i Company of Sew Jersey. reK
ular ouarterly $.1, piiablo Muri-li 13 to atoik
of reionl 1 eliu.iry is.
usual
!" to
Mackay Companies Annual Meeting
BOSTON, rob 15 At tho annual meot
iiiK of tho stockholders of the Mackav
companled held lieie today tho retiring
dlicetors were re-elected Asked as to
tho possibility nf an Inc, eased or extra
dividend, Prosldont JIackay said that
while tho earnings of tho company for the
last J ear Justified a larger pajment It
was wholly a matter of policy as to
whether tho earnings should be paid out
In dividends or put away for a "rainy
day."
ANNUAL MKET1NCB
K3 '1HK 1.KII1UII COM. AND H.HI.
- (i VI ION C'Olll'ANY
Philadelphia, February 13, 1010
The annual meeting; of Ilia stockholders
of 'lbe Ltlilgli Coal und Navluutloii Com
pany vvlll ba held at the ottlce of tha Com
lan 447 Chwlnut atreet, rhlladelphia. J'a.
on 1 rbruury 29, 19IU, ut 11 o'clock A. 31..
when and vvhera an eleillan will be held for
1'iesldent and Hoard of Manugora to serve
for tha ensulnaT yaar
Copies of the Annual Report can be had
at the Company's ottiu on and after Feb
ruary 21, l'Jlt)
HENRY li. pbabb,
Secretary.
IIIV1IIKM1.S
TUB AHKII1CAN (IAS COMl'ANV
VV,t llMliinctou Square
lUdUdek.hla. I'a . February J5. 1018.
A .luarUrly'illvldt.Bd of ?. or 2.ou Mr
share, hits ba declared 'on the tapital
stock of Ihla company, payable March I.
10 10, to tae stoikliolders of record at 3
oMock V. M curuury i, join Checks.
...1,1 ... .nollo.f "ft
J H TOWNSBND, Sd. Treasurer
DIHEOTOltV OF ACCOONT.INTS
Certltted l'ubil Accooatajits
LAVVltt-sct: b. I1UOWN fc co. "
,815 HEAL Ji'J.lf. TBUST WltfitKB
!. A.,iwii
I Sales in Philadelphia
Net
Jllsh Low. Cloe. chanRO
W 11 A. O ... . 17 Wt fr'1,
10 J a Drill ... 17 .17 1 14
2 dm Iron . . 4"i i 41
ra Cam Sterl . . M o'A t
inn lyeo Stor . nil nv,4 ICT'4 H
27 (lcn Aanh pf 7l'i 701, "HI - i
l!T Ins Co N Am S 2.V4 23T - H
list Kev Tel Co.... 14 14 U'i "i
1.. do nref 70 70 701
14070 I.skn Sun Corp 12'4 11 11 - "'
111 Lehigh Nitv ... 77 77 77
24 I.phlRh Valley . 77f 77i 7i 'i
140 Leh Vol Trim.. 21 20H 20V4 - H
! do pref 42U 42 4J
100 Miami Copper. .1714 .17 .17'i ..
no I'cmn n it R714 r.7 avi w
111 l'enna Halt M(r.t02i4 Hi2't 102'i ..
10., l'enna Pteel . . () "!0 0 17
2001 do prcf 0.VS l1 Wi 4 2
loll I'lilla f.lectrle. 2.S 27W 21
170 I'hlla It T tr ctf 20 10H 104 '
1 l'hlla Tr-ictlon 70 711 7(1
SI llendhiB .'..78 71', 78. - "
MO Tonopnh IMm. 4 4 .Vlfl 4 B-HI 'k
tM3-TonoTHih Mln.. 7 0', 0'
11,1 Union Tract.. 41 41 II '4
.1.1(1 United O 1 ... St1, SSI', SSij - S
170 U 8 Steel . Ml. 11S M'
fix dividend.
Totnl onlen, 21,180 hurr', rnmpnred with
21,317 xhnren -eMcri'iO t Mini fur title week,
411,007 MmrMl anme period lnl week, 24.
311 Kluiria.
. HO.MlM.
Net
Cloe ihge
HI
IIIrIi. l.on,
J1000 Am fins ft I 3s 1)1 M
lir.00 Lk fctm inc 41 .".. ni'5
1000 lh Vnl pen 4a nit' inVa
7000 do pen 4i ...lai'l 101
2000 do C011I 3s lllil 10(1
MOO l't CO Ren I'UIOJ', 1024
Wmki (lo conn l's 10(1 10(1
2000 riiiii Co cni r.s iijh tun
onoo do 1st 3n ..lOI'd KilU
1IKK1 llrmllnir Ren la 0"j P"14
SIKH) '.tnnd His (la.. TO1, H'llj
llnoo fn Itnja t e Is 7"."5 7.'j
(.000 WoUlinch Co M 07 (17
20(H) W.N V&l'nK'n Is OJ'j H2',
-1 Increase Decrease
'li.tnl hiilei, fi(I,".on .iiimpnreil with $81,
1,0(1 jrMrriln-1 Hhih for llilx wick, SI0,I0(I
Mime period Inst Merit. ? 1 1 (l,(ill(l.
II
111',
10.1
Kill
10.'
10C,
li.!'.
lnt'l
li 1,
I'!))4
7i'4
117
SJ'4
1'.
-
Local Bid and Asked f
I Todnv Yestcnliv
tlltl AaKert Hid Ashed
Ilnff Jt bus t c ... .l'"4 IOVj .l'"4 I0!4
do nM II, 01 III 111
I (1 llrlll I". 17 'it', Ml
lUldull, 11J 112'j 111' H-4
Cunlirll hlerl . w, St (, SI
lllutili St inn,a IV j HI ", (0
(leneiiil Asplnit . . !-'' W, It , .Il'i
do nf.l 70'J 7I5 7I'J 72
Kiv 'lei IM, V4'V IH; II
do t IM, IM lt' II
do prrf .... 70 71 l.s l.'l
Ijlke Silo Corp . ... 11 It", 114 1-'
UhlKll Nnv 77 77'i 77 77"4
I.ehlKl, Vllllej . . .. 7 7S'5 771, 7S
UhlBh Valley lr. . . in',, 2t 21 211.
do prcf IJ IJi, Jl 18
IVjillt 371. 37W 37', 37
Phil 1 lllec 27"i LS 27'4 2S
I'hlln Co -IJ 11 I J -n
do 3 per tent, pr .. .1", T17 .1", .17
dn II per tent, pr . . -I I II II II
l'hlla It T l'l'j 20 nil. a 1
do t c 1104 20 1111 :it
tlculliiB 7SV. 7(, 7K11 7'i
'Inn IM I 1-,ll 4 7-10 4 l'4
Ton .Mln IP, 7 il", I i!
1 11I011 'miction II 11 4 1 111,
r ,1 1 tm, wi, ssi', s,
IT S Steel SI" s.1 Sl M
Voik Itwy s in, si, id,
doirer .'II 1" II 1",
Win Crump t e . ... 7J so 73 Ml
"i: dlMdond.
To Protect Sherman Rondlioldcrs
NI1W YORK, l'eb 1". -Tho committee
of vibkli It. Walter I.elKb li chairman
lini Riven notlt to lioldus of the 30-venr
111 st mortK.iKo pel cent Kohl bonds of
tho Shot man, Shrevepoit and Southern
Knlln Company that, In view of do
fault lmvliii' been mado in tho pn.vment
of tuteicst vvhkb ma tilled on these bonds
on Doccmbei 1 In3t, a commlttco has been
formed nnd requests holders lo dcpoilt
theli bonds foithvvlth vilth tho Columbia
Tiust Comp.ui, t.0 Ilio.ulwnv, depositao,
under a deposit agreement, copies of
which m.i he obtained from tho deposi
tary 01 Joseph S Dale, societal y of tho
committee, SJ William stioet Ilonds must
linvc uttacbed the December 1, 1D1, ami
all subsequent coupons, and If registered
must he ncioiupanlcd b propel ly exe
cuted transfeis In blank
New Krcsgc Co. Capital $12,000,000
NIIW YOIIK, Feb 15 Itepotts from
the West concerning tho iclncorporatlon
in Michigan of tho S S Kicsge Com
pany was confirmed hero today Tho new
company will havo a capital of 112,000,000
consisting of $2,000,000 7 per cent cumu
lative preferred and $10,000,000 common
Tho last of tho company's outstanding
htock will be retired by April 1 nt 110.
In connection with recent activity of
Utah Coppei It was rumotcd that Kennc
cott Copper Is Increasing Its holdings of
Utah Copper shaics.
Underlying Bonds of the
Montana Power Company
Butte Electric &Power Co.
First Closed Mortgage
Gold Bonds
To Yield About 5
The Butte Electric & Power
Company properties are ope
rated as an integral part of the
Montana Power Company,
One of the most notable con
tracts of this Company is for
furnishing power to the Chi
cago, Milwaukee & St, Paul
in connection with the electri
fication of 430 miles of its
main track.
Send for Circular No. 332
WilliamP.Bonbright&Co..Inc.
MORRIS WISTAR STROUD, Jr.
Manager
437 Chestnut St., Philadelphia
New York IIolou Detroit
London I'urU
William l'. llonbrlght & Co, rtonbrlfiht & Co.
HOME STATE
INVESTMENTS
No, 1
Wo Offer and Recommend for
Conservative Investment
First Mortgage Bonds of
a Steam Railroad Opera
ting in Pennsylvania
Large property values, good
earning power and an active
sinking fund, indicate the abso
lute safety of these bonds.
The investment yields about
swxt
Tax Fre In Pennsylvania
Detailed pircular on application
dwar H. Smith &
BAJNKCRS
ElTilVLUBU 1S83
Utmtcrl Htuj York and PhilatUlfMa
Mock Exchange!
BlOlO 4KD CUMTMtlT 81., PatUB
(0 Full SniO Ksv YoK
LAKE SUPERIOR AND PENNA, STEEL " i
DOMINATED PHILADELPHIA MARKET
Midvalc Steel Interests Assured of More Than 90 Per
Cent, of Cambria Stock at $gl Per Share.
Keystone Telephone in Demand
J
Active tradlnc In I.ako Superior nnd
Ponnij Ivanla Steel preferred continued on
tho Philadelphia UxehaiiRO thH mornliiB,
for a time, to the exclusion of most o tlio
usual leaders, t'enniv Ivanli Rtecl, In par
ticular, nan a fcatiuo of strotiRtlt, altliniiKh
nothlnr; olllclal came out with remit d lo
tlio tieirotlatlons for Hie Itentllnu and Peim
Bjlvnnla ltallroad lioldlne Tho forllm
on tho Httcet, however, was Inclined to
ward tho piohahllltv of the Ilethlehem
Intel estfl turnlni up In contiot
It watt tcported In Wall Street that the
deal piovldliiR for the pm chase of tlio
prcfeircd and common Block of tup t'enn
fivlvnnln. Steel Company hv tho llcthlcliPin
Steel Corpoi.itlon had hecii closed, nl
thoimli It wns Impossible lo obtain any
continuation In authentic tlrelea Ac
cot dins to tho mniori, the profoncd stock
of the l'eiinsjlvniila Steel Companv la to
bo taken over nt $100 n ahaio and the
common Block at $10 a shaie I'.iMncnt
for the prefctred it to be piovlded for
by nn Ihiiip of bonds to bo exchanged on
the Inili of one bond for each share of
profmed Btock, and tho common Btock
wilt be paid for with cash In tlio trensuty
of tho llcthtchcin compan'.
Intcresti cloto to tlio 1'enns.vlvanln
llallroad nsverted today that Ml Schvvab'n
proposition would bo presented tomoi
lovv for approval, but that tho bid for
tlio IlcadliiR'H holdliiRS might not be tnken
up till later Theic Is said to bo no mm
pctltlvo blddinir between Messri Dotinor
and Schwab
Camhtla Steel continued to hold nt 81,
which vvaB to he expected, In view of
tho Drcxel aniiounceinent The atock
holders today lecclvcd their dividend
checks, lucludlnt the extra dlshiiiscmcnt
'lliero wai nlso Inclosed tlio Diexcl notice
of imrclinsp nt 81. and this waa n
paiilcd In- a tcnuest for pre Mes ,T
itBcd at tho nnniinl mcctltm on Jti,.? J.
They aio leqiieMeil In hBil?my,"Jl.
It. Oonnrr. Atthttr 13 Nowbold n,W'
Leonard HepIoBlo. As control .? the fc0'
pnny vvlll pass to tho JlliUalo Vlwi J
ordnanco Company, about a mo'iitlt n?,11''
to tho annual meotltiK. Instructlm,? 1
how to alBtt tho liioxlesnrp'm ,''!, "
tho btck of each notice, in til ,?n
Tho fact that Mr Uonncr and Mr. '&
Klo Blnicd tho rcpieat for proxies vvn,?,
appear to Indicate Inrmonlous itlaH
between those two InlcicstB ,elal"n-
It Is understood that tho Mldvalo pco.
and possibly 0, per cent , of tho ixvirr. 1
aliarea of Calnhila, to bo turned In C 1
forts l-chi uaiy 11 It is said that Mld-ali I
inn, ucci, ii'iniiiuii oi nt icnst ,, per Ten!
when nesotlnllons wore llrst under wbv
It Is tepoited that the t,pW Mldvalo eon
vcitlblo bonds vvlll he offered for duWIo
Blil.sctlptlon at W The liankeia are nil
lo havo paid the company '.", for them.
A Jump of 17 points, to m hi l'enn'ssl.
vntila Steel common nttraeted altcntlon
nltlioimh only fow shares dimmed hands'
Tho Koystono Teleiihono Rroup nlso de-'
Vclopcd BtrenRth, tORcther with rhlla
delphla 1'Iettilc, but thero was no Krent
amount of activity. "
Lako Superior mado a new top, cross.
Iiir 12, nnd the r. per cent Inconio bonds
extended tlielr recent rise, nlso bronklne
Into new territory for tho year Around
1 o'clock, however, Increased offerings
drovo tho stock below last nlRht's close
but It rallied somewhat beforo tho end'
of tho session Tho bond market re
mained relatively quiet, hut tho undertone
was Arm.
FINANCIAL BRIEFS
The Chlno Copper December quarterly
tepoit allows a surplus after dividends
of $1,1,91,737, nn Incrcnso of (.SS,78 over
tho previous quarter.
Tor tho quarter ended December 31 tho
Utah Copper Company reports a sur
plus nfter dividends of $I,'S2,1CS, a naln
of $1,092,331 over tho September quartet.
Tho AlllsChalmcts Company lint sulH
clout business on Its books to Rtiar.inteu
full operation for the plants for a period
of eight months
Tho II. K Mulford Companv. manufac
turers of pharmaceutical piepar.itlons.
has Issued Its annual statement tit the
cloi.0 of business December 31, 191!., which
Miovvh a totnl surplus on that d ito or
$l,7H.Sjr, compared with $1,000,021 on
December "1, 1911 i
Tho Listing Commlttco of tho New York
CiiiIj Maiket Association hns ruled that
1'cbruary 17 shall bo the date of dellvciy
of permanent certlllcntes In settlement of
nil outstanding when, as nnd If Issued,
contracts In the common stock of tho At
lantic Steel Company. Tlio Krnnklin Tiust
Company Is the transfer agent and the
I'qultnblo Trust Cojnpany tlio tenlstrar.
Tho Boston nnd Albany ltallroad Com
pany reports for the quarter ended De
cember 31 last net Income of $18!i,lD5,
lompnrcd with a deficit of $102,035 In
tho corresponding quarter In 1914.
Tho Xew York Central has decided not
to Issue tho $12,000,000 equipment trust
certificates, which tlio railroad commis
sions of New Yoik and Ohio wero re
cently asked to .sanction Tho manage
ment lias decided to chargo tho cost of
tills equipment, which has been ordered
nnd will he delivered at Intervals through
out this j car, to tho rcservo funds ac
cumulated tluough depreciation and re
newal charges to operating expense.
Tho Bridgeport Forgo nnd Projectile
Company and tho Bridgeport Projectile
Company filed a certlllcato of nn Issue of
additional stock in Ilnitford, Conn Tho
former's incrcnso Is '3,000,000, tho sub
scribers being George M. Hnadley, of
Nbw York; Carl Foster, 1 12. Morgan
and D. J. Morgan, all of Brldgcpott The
l.tttct's Increase Is $2,000,000, and tho sub
scilbeis aro Goorgo W, Hondley, P.
Morgan and 12. J. Taj lor, of Bridgeport
Iho Continental Motor Manufacturing
Company of Detroit sprang a surprise,
when It nimoiinccd a 100 per cent stock
dividend Tho dividend will nmount to
$2,900,000, Increasing tho capital stock to
$,",900,000, with a million In common stock
still lu tho trcnsuij Tho Continental
mndo a profit of $1,500,000 last jear on a
capital of less than a million.
Blddlc it Co bid up Pennsylvania Steel
profcrred Chandler Brothers bought
Lake Superior.
Negotiations Have been completed. It U
imdet stood, by Hnllgartcn & Co , N, W.
Unlsej & Co., Kountzo Bi others nnd A.
B. Le.icli & Co. for tho purchase of !",.
fWOOO one-e.ir Aigcntlne gold notes, and
thnt a public Issue will shortlj bu made.
Tho Massachusetts Consolidated Com
pany has told a lot of copper at a price
equivalent lo 2S7c cash In New York.
At a dinner tendeied J A Campbell,
presldont of tho Youngstown .Sheet and
Tubo Company, slnco the failure of the
Cambria deal, Mr Campbell spoko freely
of the merger negotiations, stating that
ho had Inst Interest when It b-camo up
patent that homo of the proposed con
stltucnts could not offer at I avt "A n-f
cent of their stock, and. In his opinion,
it would be thereforu impossible tu u,
cute all of the comp.inlej as a unit.
EL.KINS, MORRIS & CO.
BANKERS
Land Title Building
Philadelphia
Jones & Laughlin Steel Co.
1st Sinking Fund 5s, 1939
Tax Exempt in Penna.
Yield 4.72
Income Tax
Returns
For 1915
We have opened a
department expressly
lo assist individuals in
the preparation of their
income tax returns, and
invite its free use by
all persons subject to
the tax.
Inquiries received by
m a i 1 w i 1 1 be given
prompt attention.
Philadelphia
frust Company
Main Office
415 Chestnut Street
Broad Street Oflico
1415 Chestnut Street
"TV
Stocks Bonds
Cotton Grain
Approved Curb Securities
Bought Sold Quoted
HUGHES & DIER
Ilankrm und llrokrrx
1435 WALNUT STREET
PRESENT EARNINGS
OVER $650.00 PER DAY
BARNETT OIL & GAS CO.
(Incorporated)
Property located In West Vlrflnla.
CapHul s,ao(i.o(Mi. I'nr Value II
No Ilond.
No oiitntniiilliiK ImlebtedneM.
Stock tradrii in on N Y Curt.
Order executed ut ireent mt-
Wet iirlt'ea.
pcctal Circular No. I ujo rtquttt.
E. H. CLARKE
17 William it.
New York CUj.
ri!z
y ' lnl b ,l1" faJMmiiwaiiiiififfliiiiiiintiiiiuHi minu i m
B 9 '1
Union
National Bank
Third and Arch Sts.
"The Neighborhood Banh"
OFFICKHS
, J. S. McCullocu, I'rc!(leut,
Theodore II. Condennon, Vlce-l'reldent,
LouU N, tJnlelliericer, Vk'e-l'reldrut and Cahler,
Suiuutl Cauintell, Aolstant CUler.
umccroiis.
vm ir ... , . . . . .
Iraallna .1. flnltun .. ... . .. . ..
A v.... nwtm
Ibeo. IK Condcrmaa
lUrlan Pace
Horace T. I'oltt
(.baric S. MaUoa
If.nnr 1 IIK.I..II . VlnJinA .lr
"". . Wlt.UIU 1)U(. w. , -
". b. Jiurtla .uuru itou
.1 a i. ..i, .. . it Wi...
Join, o. Slarlla
LouU N. bplrlbtrser
Henry II. TJayion. Jr.
Katban V.ValvitU
baruuel f- Lnji
Our experience enable u to
offer a tervice uniurpaned
I
""""""Trnniinrrii
J