SS5 E5Ssssssssl.sssssslllsssslssssssssssssssssl.ssssssssssssssJ5RSIllssssssl PIPP WB WHH P PWP TT srwvwF EVENING LEDGER-PHIEADELPSIA, THURSDAY, FEBRUARY 24, 1916. 10 r FINANCIAL NEWS r STOCKS SUPPLIED AT CONCESSIONS RANGING PROM ONE TO THREE POINTS i m Rupture Betweeir Executive and Democratic Leaders in ' Congress' Used by Bears to Depress Market. . Heavy Foreign Offerings High Points in Today's Financial' News Pure Oil Company declared a dividend of G per cent: and an extra disbursement of 50 per cent, on common stock. Prices of steel products boosted again. Cincinnati Northern Railroad declared li per cent, dividend, first since March IB, 101S. Union Pacific and Northern Pacific January earnings good. Street heard that 837,000 shares of Cambria Steel had been deposited for sale to Midvalc at $81 a share, leaving 27 000 yet outstanding. NEW YOUIC, Feb. 24. The nows of the rupture bctweott the Executive nnrl tho Democratic lendora In Congress was tnkon by the bear clement ns a reason for pressuro njrnlnst the market, without icfercnco to tiny other dovolopmont. For a tlmo during tho forenoon tho room traders nnd uptown operators supplied stocks at concessions, rnnglnR from ono to thrco points In nearly nil tho active issues, and at tho same time tho market was called on to absorb feomo heavy" forolRii offorlnRS, London sold B000 Erlo, besides fairly large blocks 'of United States Steel common, Anaconda nnd Union friclflc, and whllo this selling was In progress little olso was spoken of on tho boardroom floor, except tho pressuro of tho foreign supply. Tho market was weak In tho afternoon session. Anglo-French 6s woro active In tho bond list, about $1,500,000 changing- hands during tho day. Their movement wna narrow. Ono of tho most Important features In tho market was tho strength shown In American Woolen Company of Massachusetts, which mado a gain of more than three points, Boiling at 52, against 4856 at tho close yesterday. Tho now stock was listed by the governors yesterday afternoon. Kennecott Copper was a disappointment. It had been expected that tho GugRonhclma would make that stock prominent with Its appearance on tho Stock Exchange floor after Its transfer from tho Curb, tho flrst trading on tho big board taking placo today; but, Instead of advancing. Its Initial move ment was a. dccllno of over ono point. Taken altogether, tho bears seemed to bo working on a falso foundation, Intensifying unfavorable developments and conducting their operations with a disregard of known conditions. A llttlo moro of this aggressive selling and a completion of commission house liquidation, and tho market will again bo In shape for a renewal of tho advance. Further Advances in Prices of Steel Products PITTSBURGH, Feb. 24. Light steel rails have been marked up $3 a ton In carload lots by tho Carnegie Steel Company. For less than carloads an extra chargo of B cents per 100 pounds will bo made. Trap bolts have been advanced to $3.25. Anglo bars aro being held at $1.50 to $1.75. Prices for Dtandard railroad spikes have been raised $3 a ton. A proportional increaso Is being asked for small spikes. Dividends Resumed by Cincinnati Northern Railroad Tho Cincinnati Northern Railroad Company has declared a dividend of 3 per cent., payable March 1 to holders of record February 28. Tho last previous disbursement was 1 per cent on March 15, 1913. January Union Pacific Earnings Good Tho January earnings statement of tho of the Union Pacific showed gross of $7,404,021; increase, $1,508,602; net, $2,249,070; income, $764,421; seven months' gross, $61,424,050; Increase, $0,502,551; not, $24,397,741; increase, $3,744,620. North ern Pacific's January gross was $5,457,000; increase $1,403,000; net, $2,031,000; Increaso $999,000; seven months' gross, $44,858,150; increase, $5,224,001; net, $19,565,294; increase, $5,953,619. .NEW YOKE STOCK SALES Last cloie. Hleh. Low, Adams Exoress 133J 130 130 Alaska, J 'Gold Mines.. 0)4 9H Alaska Clold Mloei..-. 22H 22M AUls-Chalmera Mfg.... 30.'f 30 AlUs-Chalmers Mfc pf. 8H4 81 Am Ab Chemical 69Jf 69 AmBeetSiiffar 70,'f G9H Am Brake S & F pf. .184 105 Am Can 035i 64H m 22Jf 28H SO C9 07 J J 105 Oltf Close. 136 OK 22K 28K SO G9 G9K 105 G2K Am Can Df. Am Car & Fdy G9K 70 .JUn,.CoaU,roducts....l65 163 (Am Hldo & Leather... 10K 9JJ Am Hide & Lvt SOK 4015 i Am Ice Securities 30 30 Am Unseed 23 22K Am Linseed pf 41 42 Am Locomotive 70 093 f Am Locomotive Df. . . . 103 102 Amilaltpf 3314 33 110K 1105. 1103i 110H G3 GS, 101.' 163 OH 9K 40H 29 22K . -12 GGK 102 33 .09 112 93H 3i 49H 29 22K 42 GS 102 33 100 112 93H S3K 112 .. i. L. . Lost close. High. Low. i i wni . oi l, mhk :Li XI Close. 35 Norfolk & Western.... 1IGK 11G 110 110 Norfolk & west pf.... 84? 84J R4K S1JJ North American 70 xsortnern Pacific 113 0 70 70 1125J U2K 112! i GK 18 AmSmelt & lief lOOJg 100K Am Smelt & Rcf pf. . . 1 12 112 AmSmeltpfA 03H 93! Am Steel Foundries... C-1H 55J- Am Euear Rof 112M 112 11 Am Sucar Ref Pf. 118 117K 117K 117!f Am Tel Tel 127K 127K 127H 127J4 Am Tobacco 104J, 101M 193 194H Am Woolen tr rets.... 48H 52 4SK 51K Am Woolen pf t r. . . . 98H 0SK 0SH 08)5 Am Zinc h 4 Sm 82 81K 78)1 79M Anaconda Cop M S85i 88K S6K 87Ji Associated Oil 71 72K 09K 69K AtehTop & 3 F 103H 103JS 103 103J, Atch Top& SF pf... 102 102 102 102 Baldwin Loco Works. .109 108U 105)5 10G)i Baltimore & Ohio 8QK S6H SOS SGK Baltimore & Ohio pf . . 75K 75)5 75)i 75)f Bethlehem Steel 470 470 464 470 Brooklyn Rap Tr 86)5 80 85K 86 Bams Bros 85 82 82 82 Bash Terminal 116K 11GK UGH 116.4 Butte- & Superior 03K 03 89K 003 i Cal Petroleum 30K 30 28K 28J Cal Petroleum pf.,,... 02 01K GO 01 Canadian Pacific 169 168K 107K 168)2 Case I TrM pf.... 85K 85 85 85 Central Leather 54 J j 5-1K 53 KM Central Leather pf....U0K 109!f 109K 109K Chandler Motor Car 03 02 02 Chesapeake & Ohio... 61H 01K 01 01 Chile Copper 23 23K 22K 23 China Copper 68K 58 50K 67K Chicago Gt West 12K 12K 12K 12K Chicago Gt West pf... 35 35K 35K 35K CrdMU&BtP 04K 04K 03H 0.1K Chi & Northwestern. .128K 128 126W 120)5 ChlRI&Pac 18K 18K 18K 18s Col Fuel A Iron. ... 45 44K 43 44 ComputT Rec Co.,.. 47K 49 48 48 Continental Can...... 81 K 81U 79)5 SO Consolidated Gas 134)5 134K 134 134 Corn Products ,. 22K 22)4 21M 21K Corn Prod Ref pf;.. 05JJ 05K 05K 95K Crucible Steel ,, 79K 795f 76K 78 Crucible Bteel pf,.... 115 113K 113 113K Cuban-Am Sugar 105 100 100 100 Seers & Co pf.. ...... 0SK 05 05 05 Denver & Rio Or 0 0 0 0 Dbilll Sec Corpn 46U 47 44K 45K Dome Mines 23K 25 23K 24 Erie 305i 36)f 35)5 35K ErieMJt pf SiK 62 51K'52 EriaSdpf ,.46 45 45 45 FedMla&Smpf 53 52 52 52 General Electric, 171) 160K l9!i 169K General Motors 4b0 481 475 470 General Motors pf,....113K 114K 113K 113K Uoodrichll F.. ....... 71)5 Granby Cunsol... ..... 02 Greeno-Cananes 47) ( Great Northern pf.,..12l fNor cf for ore pf . 44K rgeriExpln 21)5 icbCent 103)5 Agricultural pf..., 61) j let Uarv N i Int Consol Corp pf.... 74 74 Int Paper ,. 11 10). Insp Coq Cop 46 15JJ Int Nickel t t cfs 48K 48 IntMMcfsofdP... 16K 1635 Int M M pf cfd of dp. f)0!f 60 Kan City Southern. .. 25)5 25K Kenwcoti Copper 55K Lack 8t4sel- ,. 78 80K Lealgb VUey ... 77 76K Lea Rubber & Tire- 52 51K Liggett & Mjers pf. .121K 120 LorllUrd P Co pf ... 118)5 118 llictay Cos 81 81 May Dept Stores . . 53 51)f MmbcJI Motors . . 65K 05)5 Mm Motors lit pf- . - 66 85)5 Max Motors 20, pr. . . oU5 6U5 Mejlean Petiole nm Mlin & St Louis pf. Mq Kan & Texas Mo Kta & fvi pf . . Mjaail Copper Kt Biscuit . .... Wat doafc Suit pf it Sum & 8 Co. . i.L44 0Q. Mm Co cpp. IfcMr Ywt Air Brakf y u u a u. - w oJkv,mt ... 71)5 70K 71 Olil 89 SDH 47 40 40 120)5 120K 120)5 44)5 43 43)f 21)4 21)5 21),' 103 102)5 10J KHf 02)f C3K U0K 110K 100f 109K 16K 73)f 10K 44K 46)5 15)5 .66H 25 54 77)f 70K C0J5 120 118 SI 51)5 64 85 48); 10)4 73K 10)5 45K 48 16)5 68K 25 mt 78 76K 60J4 120 US 81 Sl)i 61)5 85 4015 1055 105K 102K 103)5 17J5 1715 17K 17K 5 6K Bit 8K UH UH Hit U)t SOU 30U 36K 3d 131M 121W 121)5 121K I12M 1UK I11K inn 20 25J5 25 25 67H Nit 60 66)i 1W 16K 18 16)4 144 M4f HIM 142 67 67 63J eJi JUS IOD JIM 104' 'H 37H 27H 27)4 iKii 111 K 1G!5 179)5 38K 50 50K HI u li 16)5 177 37)5 5555 18 57)5 103 41 30K 53K 102)5 3SK 25 7755 51 H 111 it !i 16) 178 37!.' 65)i 171 Ont Silver Mln 74 71: PaciricMall isjj 18 Pennsylvania R R 57 57)4 peoples Gas Chi 104 101K 103 Philadelphia Co 42)5 41M 41 Pitts Coal Co N J.... 31K 31K 30)' Pressed S Car Co 55J5 554 53K Pullman Co 163H 163)5 16235 Ry Steel Sp Co 40 40)5 38)5 Ray Con Copper 25'f 25)4 24J5 ""Qing 78j 78J.J 77 riepuDiic iron & s. ... 52; iiepuoiic 1 a: a pr ill Rock Island Rock Island pf y; Seaboard Air Una.... 6! Sears Roo & Co 178 Shat Ariz Cop 38K Sloss-Shef S & I 57 South Porto R Suj 17.W 17.7W 171 South Porto R Sug pf . 1084 100K 109K 109K Southern Pacific 09)5 09K 09 99)5 Southern Hy 20K 20)5 20 20K ouuiuern ny pi s)i 5S)i 58 58 Studebakcr Co 140)5 110 143 144! Tenn Copper 58.4 58 56)4 57 i exas L.0 207 Texas Pacific 8 Third Avenue 60J Tobacco Prod pf 103 Union Bag. & Paper. .-. 7!f United Cigar Stores... 0)4 United Cigar Mfrs.... 50)5 Union Pacific 134 United Fruit Co 144)4 U S Ind Alcohol lis U S C I P & F 18 U S Realty & Imp.... 48K United Rys Inv Co.... 15 Un Ry Inv Co pf 32 U S Rubber 52K u ti bteei uorpn S3) 204)4 202 201 7J4 iff 7)5 00 60 60 103 103 10.1 7)5 7)5 7)5 9)5 055 0)4 59K 59J5 59)4 13354 133 133K 143)5 141K 1424 148 145)4 147'4 17)4 47 12)5 29)5 50)5 82)4 18 47)5 14 29)4 J)'' 83)5 47 13 29)5 51)5 82J4 U S Steel Corpn PL..110J4 llOli, 110)5 110)5 45 18)4 85 4014 14 42!4 26)5 45 18)5 83)4 46 13)4 42H 20 U S Express 45 Utah Securities 18K Utah Copper 85 Va-Caro Chem 47 Wabash 14 Wabash pf A 43 Wabash Pf I) 2H)S Wells Fargo Fxp 125K 12G)4 west li & 41 66)4 G0)4 West E & M 1st pf. . . 77K 76 Western Maryland 20 25)4 West Union Tel 88)4 KS)4 Wheel 4 L E 1st pf. . . 11)5 12)5 Willys Overland 210 208 Willys O pf s cf f p. . . 101 103)4 103 Woolwoith V W 121 120 120 45 18)5 84)4 40 13)4 42)4 20 120K 120)5 04)4 76 2514 SSK 12K 206 05)4 7U 25K 88)4 12)5 207 103 120 Woolworth F W pf 124)5 124K 124)5 124)5 BANK CLEARINGS Hanlc clearing today compared with corre. ponding- day lust two years: 1916. 1915. ism. Phlla. ,.J)3,7li,S57 1:6,187,503 J57.J9,813 lioiton .35.270.697 32 338,427 35 918 688 N. York. 636, m.8(6 268,857.597 330 95 75 GOVERNMENT BONDS 2a of 1930 ret ,, 9944 2s of 1930 coil .. flai: Pans. 3s reir 99 Pans. 3 '3a re , 99 Pan new 3s res , 102H l'an new 3s cou ,. ,...,102)5 1IM. Asked. 3s of 1915 rez as 01 isia cou .102 .102 103H IVi 103) IVI id vale Steel & Ordnance Co. 5 Conv. Sinklne Fund Gold Bonds due 1936 Fries to Yield over &. MELLOR & PETRY Uembers N. Y. Jt Phils. Ntock Kicbani.s 3 CtMUEKClA! TUUST UL'ILUINa niVIDKNO.S OFKICK OF THE O. II. tiKlbT COMPANY LAN1 TITI.K UUILIIINO FblladalptaU, I'i.. February 23d, 1911. The Directors of Freeport Oas Company hve this day declared a regular quarterly dividend of sue and one-bulr pec cent. iHi) on the preferred stock of the Company out standing, payable March 1, 1916, ta holders of said stock of record at clam of business this data. Checks will be nulled. L" II WBAK. Secretary. 1'1'BK Oil, COMPANY FhlUdelphU. Fa . February It. 1111. To numlure of the Uomsaoy have declared s dlvldeod of 9 auad an earn dividend of 5(M5i on i'vbuooi) SU?k, payable March 1 to stoclt iwtdet ,1 maw! March 8, 11.. Transfer books to oe open from Karcit 1 u Jlarch 7 and Ied frsja Uarca t'to March 1 it. IX.- WEI1JSH. 'ftta.urer. NEW YORK BOND SALES Illth. I500 Ailflms lxpres9 4s., MU , 2000 Amer Cot Oil Bs.... 97 . 1342000 Analo-T-'r I 5 ,94. S1000 Amer Tel conv 48., .1(10 BOO Amer Thread 4s,... 911)4 IOOO Armour Co 4'in..., 95 21000 AtcMnon Ren 4 9tH 1000 .WchlAOn rv 4s 1960.103'i .101 ; Iiw, Cl0l",. 8IH S4'i 17 97 i 1000 Atrhlflnn 5fl .1000 Atlnn Co I.lnn 22000 Allan C'n t.lno 1000 Halt t: Ohio 3H 14500 Unit k Ohio 4s,, 34000 Halt & Oh cv 4!4i conn 11 & 0 P I.KAW V 21000 llcth Htcel let 5a nnoo Held sti-el rrd 6s ?H 10 1 4s 92U Atlnn Co Line rlt 4a 86)4 .. 92"4 .. 92 1.. 97 4s iSji . .1034, . .1051 2000 Hrookn Hap Tr 4. . 79'e upon iirnnKii imp Tr rm.,103 2000 llulTnlo tlsa 5s... .ior.14 1.1000 Ci-nt !nthir 1st 6s. 102 1000 Cent Pur lt 4s.. .. oott .1000 Chill Copper 131 (1000 Chrs Ohio cv 4',4. 87)4 .1000 Chi-s A Ohio 5s ...1054 2H00O Chi ft Alton 3'.is..M5 4000 Chi & Nwn xt 4s.. 9H 1000 Chi ft Nwn 5s 197.1194 7000 Chi II ft q Joint 4s. 9RA 5000 Chl II ft Q rten 4s. . . 94 1000 Chl II ft cj nn 4s. . . 88 "t 3000 Chl It Q III .1t4s.. 2000 Chl 11 ft Q HI 4a 95U 4000 Ch Mil Ht p uen 4a 91 lonn en .Mil ft Ht i cv Ba.107 ei 1001 984 95. 944 '"'if 92U aeli 92 Ji 91)4 9H 88 10.1' 102 794. 101 1054 ioiu 90 Ml 87 105H 40 90H 119i 98 i 94 984 85 95i 91 107 a 1 if. 100H is4 95. 10li 92i 86 4 32; 91 '4 96 88j4 102', 79 4 4 102 00 14 1.11 87'i 105H 46 96 119S 98 Ot 98 80 95i 93 107 J222 !!,h.M" Rt r.c" Bs.103'4 1034 I0.1T4 C000 Chinese rets 6s 76 75H 7BU ;; riovaii l.lne 4Hs...100i I00 1001 6a.. 71 4 T5 r It. 79 moo Col V ft l pen 5s.. 9.1 1000 Compul ThIi 6a 81 vmmi uei t iiud rrd 41.. 97 1000 Del ft Hurt 44s 10t'4 2000 Detroit 1'nlted 4V4s. 76 rt'ivi, iin cerur orp 4000 Ilrle mn 4n. 10000 llrle rnnv 4s n,. SO0O0 Krlo prior 4s 854 1000 Great North 1st .... 99S 2000 Hud A Jinn In 6s... .101 5000 do rfd 8s 74W 2000 tndtnnn Htcel 6a ...10.1 4000 III Cent 4s 1951 97 aooo Ins Coppt nv 6s...lR2!4 69000 Intrrh Met 4Ws .... 744 65000 Intern It T ref f.s. , . 90S 77000 Int Mer Mnr ct 4'4s 97H 1000 Int Nnv Bs 96 2000 Jap new O S 4)4s. . . 76W 2000 do new 4 '4a 85 1000 Knn City So 6a.... 92 93 83 101 4 76. 71 $ 75 4 79 85 i 90S 30 74M 103 97 1824 73 J, S?tl 1B 76 U 814 92 93 83 97 101 ti 76 4 71'A 75H 79 85 ; 9954 30 i 7414 10.1 97 1R2H 74. 96 76'4 814 92 sr er. 93J4 93J4 1014 1014 10255 10; 87 r vn Itleh. Iiw. Cloae. 1000 Knn City Ter 1st la, R8T4 88'A 88)4 iuvu itnna x- .Mien is., 8& 6000 Lacks. Steel Ba 1950. 94, 2000 Laclede Una 1st fia. .10154 3000 I.Ik ft M T 6a 1024 3000 Ionic lalmitl rfd 4a.. 87Ji 4000 Loula ft Nnah 4a ... 954 6000 Msnhsltan atn 4a,. 93 3000 Mex Ft Co f.s Ser C.1I0 logo .Mien ; Tei na . 101 4000 Minn ft Ht li.is . 1000 M Ht I H M it 4s 14000 Mn Knn ft T 1st 4a 2000 Mo Tne cv Ba ... 4000 Mo Fnc 6a 1920 . 2000 Mo IMP 61 6000 Mont Power 6a . . 2000 N Y V ft II 3'4s 12600 N Y C ft Mild 4Hs. 95li innn m v f a mi 1. ii 4a oiv 39000 N Y Cent 6S .. 4000 N Y City 4s 19 5000 N Y Cllv I Its 1000 NV1I ftlt rv 3V4s 71 U 5000 NYNH ft II 6s 1066 804 8 moo n Y M li ft ii ns ..in ni 2 i.l . 03t4 . 77 . 42 8.. .1004 . 96f 81 9214 02J4 d7.V. 064. 9.1 110 ,01.. 62'i 93 '4 77. .n'4 Sfl IO0V4 100V4 sn'Vi nil '4 83, 13, 924 92'4 95i 95 "7, , : : ., 11I1 92 t4 110 101. 62'i 0.1 A sn . t, ii 1B00O N V tl.vv ref 4a 26000 M Y llwy ndj ,6a 8000 N Y Tel pen 4'4 16000 Norf ft West 4s . 12000 Nor ro prior 4a. inno lire ft cm es l'ttV. lltjt 1I4' 959.. 9SS 964 964 .,,.102t 102U I02U ' 3Ms 71U 71 ti 7ljt 14 vn 114 . 79 it . 61(4 "'., . 934 . 93 A 102. 2J4 54 102A 4000 Pnrlltr! Tel 6s 100 inn n .'ptine trrn r-i Av.it .iiizm 16000 Penna rn 4'As 1061 4000 IVnnn l'.4s 1921. ..102' 2000 Pull R,rv M .1 Rfl.... 90 6000 itendtntf Ren 4s .... 9514 6000 Ilep Ir ft H 6 SOU 1000 Itlo Or ft W 4a 76 1000 Kt I, I M ft H U 6a. 102 '4 23000 Month Tac 4s 874 26000 Houth Pop i-v 4a 884 11600 do cv ret f 6a.. .105 1500 Houth Pnr rfd 4a... OO'l 27000 Houlh llwy Ren 4a.. 71 li 1000 Tenn Crf n 6s 120 1000 Third Ave new 4s.. 824 3000 do ndj 6a 83i 10000 Toklo 5 78 2000 11 H Itcnlty 6a 72H 1000 11 a rtubher 6a 10.14 14000 IT H Hleel 6a s f..,10B 2000 Union Tno 1st 4a... 0Ji 1000 Vn. Csr Chm lat 6a.. 09 4 1000 Vn llwy Gi 08"4 2000 tvnlmsh lat 6a 10IH 1000 West Hied 6s 1 0.1 '4 2000 do rv Ba 13t4 2IIUO HMI Jlrj 181 S..., tSVi .101',. 4 000 West Union 6s. IW 93J4 934 102 100 '4 1024 106 102 90, 96'4 39't " 102',4 87A 884 104 A 89. 71 120. 824 83 J. 77 103 '4 1014 D7i 99 4 084 9; 101 J 10 1 03 ',4 10 111". 72'4 101 i 77 61 V4 99. 34 834 1004 102A 106 102 ',4 90. 164 99H 76. 102 '4 87j4 88 '4 104 '4 90 Ji 714 120., 824 S1i 774 I034 1044 97 J. 994 985 01 Ji 014 1.11 54 72"i 101i Sales in Philadelphia Net ... .,,. IIIbIi. I.nw. Close. chRo. 100 Alliance Inaur 1954 19" 194 100 Allls Chnl pref 80- 80S 801. 70 Am Ilys prof. 96U 964 96A 3 105 Am I.oeo .... 68 681 681 HJ 20 Anncondil SHI 864 8614 200 Drill J 0 385, 38 38 1 62 Cam Iron .... 46 46 46 1 10 Col Fuel 43i 41i 43i 100 Chlno Cop 67 67 57 ..... 435 nioc Btor ... 66U 6454 66 t4 65 Uen Asph ... 35 .15 35 "t .16 do pref ... J2W 72J4 724 i 20 Ins Co N Am 25 ji 25 V4 25 H 10 Kenn Cop .. 644 645 6li 105 Key Tel Co.. 14i 14 It U 3 do pref ... 69 69 69 1 900 Lk Sup Corp. ll'J 10J4 1014 Vt 370 Lch Nnv .... 77 76T4 77 ..... 61 Irfh Val 77 77 77 4 83 I.eh Val Tr pf 44 44 44 60 I.lt Brothers.. 19t4 194 19U ..... 590 Pennn It II.. 67Vt 67 671t 11 40 Pa Snlt Mfg. 101 101 101 1 6 Penna Steel.. 70 70 70 5 285 do pref ... 98 Ti 98T4 QS4 120 Phtln. Co .... 42 41 41 1 6 do pref ... 36'4 3C4 36'.4 '.4 160 do cum pref 44 44 44 1367 Phlla Electric 27i 274 274 ,, 14 180 P n T tr ctrs 191i 194 19W H 133 Phlla Tract.. 79 79 79 4 100 HenrtlnR 774 7754 77K 1 10 So PaclflC .... 99 99 99 100 Ho Hallway. .. 20 20 20 "4 M5 Ton Del 4'4 44 4 '395 Ton Mln .... 65 61 6 105 Un Trac .... 434 43t4 434 H 160 11(1 1 90 8974 90 ..... 6169 U S Steel ... S3l 824 S3 i 67 V J ft Sea., 50b 504 6014 ..... 60 Cramp ft Sons 73 73 73 4 55 York P.wy ... 11 11 11 BONDS. Net Illch. Low. Close, chue. S1200 Am O ft G 6a 9314 93 93 2000 nnld I. 1st Cs. 10514 106 '4 10514 14 1600 City 4s 1943. .10214 1024 102l 600 do 1945 ... .10214 10214 10214 600 E ft P Tr 4s. 82 82 82 b 3000 Inter Itwys 4s 58 68 68 8000 I.ke Sup lne 6s 32 .12 32 6000 1, N conn 4 ',4s. 103 103 103 '.i 6000 I. Val Ren 4s 94 94 94 14 4000 I, V Tr ref 5s 0214 92'4 32V4 li 5000 Mkt St El 4s 971t 97'i 97 ',i 2U 6000 Pa rv 4s 1943 9914 99'i 99'i 6000 Pa Gen 44s. .10214 1024 10214 14 3000 Pa ft M St 6s. 106 106 106 11000 Ph Co Cons Es 94 9314 94 "i 7000 Phlla Elco 4s. 844 84 84 6000 Read cen 4s. 9514 9614 9514 'i 1000 Hd-Jr Cen 4s 9514 9514 9514 U 1000 Sp Am I 6S.102H 10214 10214 20du Stand Gn,1 6s 9914 9914 9914 'i 3000 Yk nwy 1st 6s 95 95 96 -f Increase. Decrease. NEW YORK BUTTER AND EGGS NEW YORK. Tob. 24. HUTTHll Mnrket stronir on nil Rrndes with ltRht ofterlnR of fancy stock nnd better clearnnee of lower qunlity nnd fresh, ltecclpto. 7873 packneea. Kxtrti creamery, 3S4c: higher scoring, 36i8 3C14c.i State dairy, 3436c.t Imitation crenm cry. 23 iff 24c. KOOH JIarket trade falrty active; arrivals moderato and prices firm with a sllffht re covery. Receipts, 12,244 parkaRcs, Extra firsts. 24i4e., llrsts. 23V4S'24c,: nearby whites. 290.10c.! browns, 264 6'26l4c.i mixed colors, 23425ci refrigerator best. 1920c. Local Bid and Asked Today Hid. Asked. Baldwin 107 108 uurr & bus 1 o ,. iu i do pr 6914 60 Ilrlll, J O 26 38 Cam Steel 81 8114 Elec Stor 64V4 6514 Gen Asp 36 36 do pref 72U 72'i Kostone Tet 14 144 do tr ctfs 14 144 do pref 69 70 Lake Sup Corp 10 11 I-ehlsh Nav 764 77 Lehlah Vnl 76 'i 76 K Lehigh Val Tr 22 224 da pref 434 44 Pennsylvania 67 674 Phlla Elec 274 274 Phlla Co 41 42 do 5 per cent. rfd.. 37 39 do 6 per cent. pfd.. 44 4414 PhlU R T 19 19i do t o 19 19H Readlnsr 7714 78 Ton Ilel 4 7-16 414 Ton Mln 6i 6. Union Traction 43 43 H Yesterday Hid. Asked. 1081 109V4 40 60 37 H'i 14 42 61 39 8114 66 Mi 73. i 4 ; 1 6914 70 It'i U15 76 224 3H 57 2754 42 37 44 77 Hi .1-4 44 67 U !8 42W 38 45 1JT4 20 1914 20 7S., 78i 44 414 6J 61, 43i 44 K.A. Aco. PUBLIC SERVICE SECURITIES "Public Service Securities are linked nnth the success of municwalities." G, New England Company 10-yeir 6 per cent convertitle Bonds to net 6.27 per cent. C Net earnings 1915 nearly JouDle 1914. J Amount applicable to payment or interest on this security more than 4 times sum necessary. Q Tax refund in Penna. Federal in come tax paid, (J Complete data on request. Bakei? Ayliixg & Co. Land Title Bldg. Philadelphia, Midvale Steel and Ordnance Company COL. TRUST 5s March, 1936 (When, as and if issued) Bought Sold Quoted C. R. PENINGTON Stock Exchange Bldg. Itnro I2C0. Trlrate telephone. Neiv York rlttsbnrch ELKINS, MORRIS & CO. BANKERS Land Titla Buildinp; Philadelphia Philadelphia Suburban Gas & Electric Co. 1st and Refunding 5s, 1960 Yield 5.05 Tax Free in Pennsylvania YOU SHOULD INVESTIGATE The security back of the Barneti Oil & Gas Co. situated In the West Virginia Oil Belt Earning over 1050 per day. Froduclnr oier SIS Uarrrls a day. btock Traded In on N. Y. Curb. Orders given prompt attention. Send for Special Circular No. t. E. H. CLARKE 27 William Street, N. Y. City BUIECTOUY OP ACCOUNTANTS Certified Public Accountant WWHENCB E. DHOWS & CO 1615 UUAL U3TATH THUST UULltllNQ. UUHNa tc hhbik'MH The Uourse. , Your Income Tax The Income Tax Law requires each person subject to the tax to file a report of incoraa not later than March 1st, We are equipped to assist individuals in the preparation of their income tax returns, and invite the free use of our department opened expressly to handle such matters. Inquiries by Mail Will Receive Prompt Attention. Philadelphia Trust Company Main Office J16 ChesUvt Street Broad Street Office H15 Chestnut Street COTTON UNSETTLED, POLITICS THE CAUSE After Early Irregularity, Prices Fell Off From 10 to 15 Points N'HW YORK. Feb. 24. llunlncss Ivan fairly nr.tlvo on tho cottor) cxchanBO this mornlnrf. Tlio opening tone wan steady ttlth prices 1 In B polntu IiIrIict. In formal Ion nn lo March nollces wna inpartrc: It was apccrtnlned that they were thus far 1000 hales nnd tho best cutl miitcM were lint they would not exceed 6000 baei. This wn8 exticctcd tu havo some effect on aentlmcnt, but apparenlly wna without Influence, Kpot liotisen pur chased March early nnd then turned bcII crs of llfnllcU amoiinlK. Liverpool nhowed lulvancca of ulioilt 1M polttltt, whereas Rains of but 2 tu 2yj polntn were expected, but no alloiillon was Riven here lo tho trend or p. Ice In tho llnRllah mnrltet. It wan clear In the Southwest ngaln thla momlnir. but re- porM of preclpltallon camo from all tho bthcr Bcctlons of tho cotlon belt. Senllment, however, Was Unsettled by Iho unfavorable view of International politics and Iho Irrcsutar rullnR of Iho stock marftcl. whllo thero alao appeared to bo somo sclllnrr hero by eastern belt spot houses, nnd prices soon eased oft under a renewal of local pressuro or liquidation. Declines of nboul 15 16 1 points under tho early IiIrIi level and somo to to 12 points under last nlelit'H closlnrr figures followed. Yes. rlose, Oiien. March 11.37 JI.JJ Slav 11 3 11.8' jilll p. M 11- Ortnbrr l.0t 12.0T lifrrml?r ..12.15 12.23 January ...12.83 12.27 Hpot 11. SS Trenton mid Bristol Earnings Tho Trenton. Bristol and Philadelphia Hlroct Hallway, for tho six months ended December 31, lOlfi, reports: Gross earn Iiirs, $B1,3G0; net earnltiRS nftcr tnxcH, $20,SS0; nurptus after Interest, $10,262. Itlsh. 11.42 ii.nr 11. 80 12.0? 12.22 12.27 lrflW. 11.17 II.3R lt.r.o 1 1.77 It. 90 11.98 Closi. 11.20 11.40 ll.no 11.81 11. P2 t2.00 11.30 NEW YORK CQFFEB MAinrSS Nnw YoiiK, Feb, 2i Tii f, ,m kct opened Bteady at 1 to r,0tn.,3 nnd later showed a hervous lh,,fca with Irregular price chnhiS?" S"0 icH-i rircsaurp oi liquidation In tho x.J"? position and a llttlo trndn hiVvi-. ..'W ugh It wB thouihl SkSS month.' nlthoucb llml tenders on Mnrch contfnet. on tv?3 will bo qulto liberal. Thero ,?"?'' less sellliiR of tho Into months Vf,rlX opcnltiR nnd prices lost part of fhi & n.lvancc. At best, Iho market wa. '3 both wnys. """ """' 'nnwittP IVbrunry ,,,. Mnrnh -Mirli .Mny .Innn July ' AURUSt Hci'trmber . . . Orlobrr Novrinhor . . . i)fcpmbor . . . January .... Hid. Sales, Todsv's orciilne, 7.'2 7.02 7.82 7.87 . 7.98 .tr, 8.1508,50 7000 bsiis, Y'tfi?J I "MTtf si : : .c ;.7 I i! DOt.til m $500,000 lifornia Shipbuilding $mm Eight Per Gent. Cumulative and Participating Preferred Stock Offered at Public Subscription and Allotment ; Capitalization Authorized Outstanding -i 8 Cumulative & Participating Pfd. Stock (Par $10) $1,000,000 $137,280 Common Stock (Par $10) 4,000,000 3,028,000 Bonds 6 due in 1925 1,000,000 800,000 The trust deed provides that of the remaining $200,000 bonds authorized, one-half may he sold to add betterments lo the plant nnd one-half for a working fund which must be kept up to $100,000 , from the earnings. The PREFERRED STOCK hns preference ns to dividends and assets and equal voting power with the common. Dividends arc 8 per cent, cumulative, and after payment of 10 per cent, dividends on common, the preferred stock shnrcs equally in any additional dividends. TIlO CALIFORNIA SHIPBUILDING COMPANY is a going concern owning an equipped shipbuilding plant occupying more than 18 acres adjacent to Los Angeles Harbor, at Long Beach California, with a skilled force of mechanics, berths for sidewisc launching of more than 800 feet in length. Also essential buildings, viz: Punch Shop 46 x 170 feet; blacksmith shop 4G x Gi; mncliinc shop, 90 x 128; foundry 88 x 64; mold loft, 04 x 220; joiner nnd pattern shop, 40 x 208; pattern vault, 00 x CO; power house, 40 x 48; boiler house, 24 x 30; office, 32 x 32; DRYDOCK, (floating), length on keel blocks 284 feet; draft 21 feet. Main building berths have overhead trestle nnd two. traveling cranes; also such cranes for handling plates and shapes; buildings arc fully equipped with standard shipbuilding machinery. Ynrd built cargo vessels registered in Lloyd's as General Hubbard Navajo, Camino, Paraiso, Edward Vance, Alvardo, several dredges and other steel craft. CHARACTER OF BUSINESS. On Dcccmb;r 31st, 191G, the Company bought the Long Beach shipyard and signed a contract with the UNITED STATES NAVY DEPARTMENT to build the Submarine Torpedo Boats numbered 75, 70, and 77 for $548,500 each, nnd there arc also under construction at the present time United States Navy Submarines LG and L7, price $550,000 each; the Government Lighthouse Tender "Cedar," price $235,000. The Company has numerous inquiries N about building cargo vessels under contract, but is seriously considering building itself stock standard cargo craft for the purpose of sale, charter or lease, when finished. The idea being standardisation, duplication and multiplication of a reasonable priced vessel in order to cd-opcrate in building up an American Merchant Marine. Congress will probably adopt the policy of the past of building on the Pacific Coast a substantial ratio of the submarines to be constructed. The Company has reserved building space to handle a number of such submarines in addition to adequate building space available for cargo vessels. The Company has an exclusive license lo build and sell on the Pacific Coast, Submarine Tor pedo Boats of the "Even Keel" type, otherwise known as the "Simon Lake" type of subma rines. The "even keel" principle in submarine is used by several European Navies. The United States is building fourteen submarines (to cost over $7,000,000) which use the patented devices of Simon Lake. One of the fourteen is being built by the Government itself at the Portsmouth Navy Ynrd. The royalty is $52,700 hence the exclusive rights of the Pacific Coast constitute substantial values. There has never been a fatal accident with a submarine boat of the Lake design in the United States Navy or in any of the foreign navies in which they are used. OFFICERS AND DIRECTORS: President, G. II. Bixby, President Long Beach Savings Bank & Trust Co.; Treasurer, P. E. Hatch, President National Bank of Long Beach, Cnl.; Sccre- " tary, W. G. Bunnell; Vice-President and General Manager, W. C. Foley, who was a Superintendent of construction of many war and merchant vessels at Newport News, Va.; the Assistant to the Man ager is E. O. Cutler, late of John Hyde's Bath, Me., shipyard.- The Company's Consulting Engineer and Naval Architect is Commander R. H. M. Robinson, who, . ' as a United States Naval Constructor, had charge of the design of every DREADNOUGHT afloat and many other Government craft. This is believed to be the first opportunity the general public has been given to unite in a com pany participating in upbuilding of nn American Merchant Marine nnd co-operation in the PRE- PAREDESS POLICY OF THE NATION. SUBSCRIPTION TERMS. Fifty thousand Preferred shares of the California Shipbuilding Company are offered for public subscription at the rate of $11 per share. Subscriptions will be received up to Noon, March 8th, 1916, thereafter an allotment will be made. In the event of over subscription the 50,000 shares will be pro rated among the total number of subscribers. AH subscriptions must be accompanied by a money order, draft or check payable to J. Frank Howell. 52 Broadway, J.FRANK HOWELL Investment Securities New York City $2,000,000 S. S. Kresge Company (A Michigan Corporation) Cumulative Seven Per Cent. Preferred Stock Par Value of Shares $10 Preferred both as to Assets and Earnings Quarterly Dividends Payable First Days of January, April, July and October. Total Capitalization to be Authorized and Outstanding Seven Per Cent Cumulative Preferred Stock, .Par $10, .$2,000,000 Common Stock Par 10. . 10,000,000 We have received a letter from Mr. S. S. Kresge, President of the S. S. Kresge Company, dated February 0, 1916, a copy of which will be furnished on request, Some of the salient features of the letter are summarized as follows; This Company has no funded indebtedness, and with the exception of purchase money obligations, no mortgage can be placed on its' property, or the Preferred Stock increased without the consent of at least two-thirds of each class of outstanding stock. Stores, sales and net profits for the past four years have been as follows: Dec. 31 Stores Grors Sales Net Profits 1913 85 $10,826,487 $609,179 1918 101 18,258,227 ' 869,080 , J9H "8 16,097,511 1,150,497 1 1916 189 20,948,800 1,298,219 Net current assets amount to over $8,000,000, or $15,00 per share of the new Preferred Stock. Application will be made to list both the Pre ferred and Common btock Issues on the New York Stock Exchange. The legal proceedings for the Uue of the above Preferred Stock, are being passed upon by kman, Menken & Griscom, of New York City, and by Frank M. Drennan, Esq., of Detroit. Messrs. Deekman We offer the above Stock, lublect to confirmation nnrl l..nn i ni. uI,.h . and 11 Issued and delivered to ui, t $10.75 per -hare. Each aubicription mut bp' accompanied by an initial deposit of J 1.00 per share applied for. V A we We do not guarantee the statements and figures presented herein, but they are taken from source! believe to be accurate. r BBHtsVWSBSSSSSMBSHSISiassMSSaSMSBSSSSSSSSaSllBS, Merrill, Lynch & Company Uembers New York Stock Exchange Seven Wall Street Penobscot Building New York City Detroit, Mich, '''!! "'k 'I' 'HI, Ji L tiilpLlljll lM'HIWW k BWB
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