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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,
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