10
M
EVENING LEDGERPHILABELPHJA. FRIDAY, FEBRtJABY 25, 1016
i?TrArnTAT. Mi?.wfi I C
Aew TorA: Stf ocft Safes
STOCK MARKET SHOWED STRONG TONE
i ALL AROUND IN TODAY'S SESSION
Railroad Shares More Prominent Than for Some Weeks
Past Better Outlook on Foreign Diplomatic
Situation a Bullish Factor
High Points in Todays Financial News
Initial dividend of ' li per cent, declared on common slock by Amc)''
icon Woolen Company, of Massachusetts. Final rail issued for remaining
IS per cent, of the Anglo-French $500,000,00') loan. Rumors that diii'
dends would be resumed on United Slates Realty and Improvement stock,
Negotiations under nay for new French loan of $200,000,000, to be secured
by American securities. Denied that Russian gold was on way to icty
York. Store favorable railroad earnings.
Nl'W YOllK, Kcb. 2B.
An nil-round strong tono was shown In today's slot It tnnrltot, with the
raitroml stocks moro prominent than they haw been for porno week past, nnd
many of the low -priced issues, easily controlled by speculative pools, were
forced Into prominence nnU made substantial gains.
Tho President's lotter to Senator Stono clcllnllifr the polh-y nt tin Adminis
tration and thr statement by .Speaker Clark that leaders of the House have
the foreign situation under control and In favor of petmittliiK the Picsl
dent lo continue his effort In handling tho Bubmnrlrtp issU' without Interfer
ence were tnken as bullish factors; but tho situation aftel tho recent bear
pressure had become so Htionj- as to make It responsive to any now develop
ments which could be construed ns faorable to the long side.
While prices during the preceding part of the week were forced to low
levels, little outside selling was Induced, and the only supply worth noting
was that of foreign-owned stock, the sale of which was necessitated by the
contracts delivering train bills In the nct two weeks. American Woolen of
Massachusetts stock, which was first traded In jcsteiday, was dlicctly Influenced
by tho declaration of an Initial dividend of 1 ! per cent.
Banks Lost $3,820,72:! on Movement of Currency
The known movements of money for the week ended with tho close of
business jestcrday Indicate a net loss In cash bj tho N'ew York banks of
$3, 820,722. Tho banks gained net from tho countij $3,321,278, but lost to the
Subtreasury $7,035,000. The succession of weekly losses In money for homo
time past In contrast with the usual heavy gains from the counttv In January
and February of normal years has been partly attrlbutid to the vvlthdiawal of
funds from Xovv York to pay for put chases of munitions made at biteilor points.
Gold exports to Holland have also figured, to some extent. The banks received
by direct express from the Interior $b,SD3,003, and they shipped $3,GS1,625.
No Russian Gold on Way to New York
Gregory Wllcnkln, financial agent In America for the Russinn Government,
denied today tho published reports that $52,000,000 of Hussian gold was on Its
way from Vladivostok to New York, via Vancouver. ' Uu.ssia has eported no
gold since the beginning of the war," he said, "eccpt about $9,000,000 which
was remitted to London In tho fall of 1914. It Is true that we have an enormous
store of gold In Petrograd, but the policy of the Government Is to add to it
rather than diminish It."
Rumors of Resumption of U. S. Realty Dividends
The recent strength and activity In shares of tho United States Realty and
Improvement Company has resulted In rumors of a resumption of dividends
on the $16,102,800 outstanding stock of the company While ofllclals of the
company refrain from making any comment in this connection, they admit
that earnings aro sufllclent to wairant tho payment of dividends on the stock
and, at the same time, leave a substantial balance of surplus. The last divi
dend paid was 1 per cent, on February 1, 191f.
Final Anglo-French Loan Call
Tho final call for the remaining 13 per cent, of the $300,000,000 Anglo-French
loan was Issued to the depository banks by the commission today. It is pajable
nt the National City Hank on March 5. The commission has been making
calls upon the depository banks from time to time to meet its requirements in
connection with payments for war supplies, etc.. In this country. The fact
hat the last call has been issued shows that the proceeds of this loan will
soon be nil used up.
National Carbon Dividend Raised
NEW YORK. Feb. 25. Tho National Carbon Company today declared a
quarterly dividend of 2 per cent, on the common stock, pavable April 15 to stock
of record April 5.
This Is an increase of the regular rate from a 6 per cent, to an 8 per cent,
basis. On account of the change In tho by-laws, closing the books will not
be necessary.
American Woolen Initial Dividend on Common
BOSTON. Feb. 23. American Woolen Company, of .Massachusetts, has
declared an Initial dividend of 1; per cent, on tho common stock, pavable April 13
N. Y. CURB MARKET
IN UNCERTAIN MOOD
Midvale Steel Rights Again Un
der Pressure Strength in
Submarine Boat
NEW YORK, Fob 25 Considerable Ir
regularity marked tho dealings in the mar
ket for outside securities today. In spots,
the general tendency was downward,
while In some quarters the tone was
strong. Trailing, however, was less ac
tlvo throughout the list, although in a few
Issues dealings continued on a large
Ecale. Midvale Steel after a show of firm
ness broke a point, while the rights went
to a new low mark,, selling below 2. The
bonds, however, remained unchanged. Sub
marine Boat moved up a point.
Aetna Explosive moved up a point on
fair activity Cuba Cane Sugar was steady
at a fractional gain The motor stocks
were practically neglected but steady Oils
were Irregular with decided less activity
In Standard Oil subsidiaries.
INDUSTRIALS.
Bid. Asked.
Am-nrltlih MtV JO 28
Atl Quit 4 W 1 S B 2 30j
do pre! 4 '.
Marconi . JH "
AJsx Hubber Inc w 1 701 71 Vi
Canadian Car Fdy 65 70
do prel ...80 90
Chevrolet Motor Car 130 134
Cuban pans Husar 494 60H
Cumin Aeroplane 47 30
flrtcga-Seabury 137 140.,
Kmerson 13 1SU
Haskell i. Barker Car 47, H
Inter Mer Mai ino . 16'i 17Vi
Inter Mer Marino pfd 65 70
Kelly riprlnsfleld 70 72
Kathodlon llronze pfd 30,, SI.,
Lea Tire Jtt If
Maxim Munition .5., .H
Midvale Steel ,.. 66H 67
Dull Klevator 63 66
Otto E.-enlohr w 1 55 68
do pr lOOVi 101
Peerleu Motor 36 37
Poole Kn II Mach 110 130
Ht Joseph Lead 15 15j
ri B Krre vy I 1.... 13'i 134
Standard Motors ,. ., 9
Submarine lloat v t c ctf 35 H 37.
Trlanale Film v t ctfs 4 'J
United Clc-tr 96. 9
Unite! I'ront Sharing 1's IS
V B Meht HMt 3H 4
U 8 LUht k Heat pre! 5H 5
White Motors w t 4 4V.
World Film 1 11
STANDARD OIL SUBSIDIARIES.
Prairie Oil .... S" 331
tlllngM Oil 186 188
Ohio Oil . . . ., 334 137
S O of California (ex rts) 335 5
a U of Now Jersey .......503 509
U O ot Neiv York (ex dlvl 310 313
OTUBIt OIL STOCKS.
Harnett Oil 13 13
Cosdsn Oil 314 33
thalioem Oil , 1
Jtuuston OH 19 14
Midwest Rnnlns "
eapuliu . .,..,. It 13
MININO WOCKS.
AiUBl 'i ?
KMU e & i. V t ctf 7J 8
Ptrajt Kati Copter St J
lfaiwaUBtwt fc J)
Huwt Sound Mi JR
JiubsS KM ...... I I-ll 11-16
Jtajw?mi 1TH W
V? -etWuii t'w. ",',',''. 7 T
NVis: Biul BxUnswn ..1 I
Su, i,is tout mis
KRl u 11 1-0,
BAK SILVER
f, 44vfl 1.U..4U, fi IVU3 'I lOff 1 at
New York Bond Sales
iiuii
J4000 Amer Acr 5- oj?
447600 AnBlo K I. 5h 14S
15500 Amir mpit , i ta 111
iooo Amir rti dt 4 lu
3000 Ampr Writ I'm 0a 711
3000 Atchison sen It !
6000 Atrhlmn i 4j 1160 104
J00O AlLhlaim .1h nil ,
4i)00 Alljn Cn l. Inc 1h. 4a 9J
33000 Allan Co Line ill 4s M4
IMiOO Milt & Ohio I'js 9!
14000 Milt (. (Hi s pt T,
37000 Malt & (I'l it i i . r .
2100 ii s o i i,mn 4h hi;
10000 Metli -.t. 1 1 1st ;a 104
1000 llronkn 11 T 5a 191 fi 101
5000 turn r. rm Hide la 9
J000 Ctni Uutli lit Ca .101",
1000 Cent It II , J ii . 1174
4000 Chill Copikt "s. 131'4
16000 Cms . Ohio iv 4Vaa 97'i
2.'000 Chi II t Q Joint 4 99
1000 f'li .Mil &. bl l t 5a 106Bi
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8000 C M & Ht 1 en l'j 103?. 103V
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3000 Col A South 1st 4a
luoo Comput Tab da .. ,
1000 Den Itlo tlr 4a
7000 Dla becur Corn 5a .
6000 i:rle tonv 4a Her A.
1000 Krln prior 4
2000 r, Nor 1st 4 'an
3000 Hud H M In 6a
10000 Ind Mr-el ua
1000 III Cmt la 19SJ
12500 Ina Cup i da
2000 Int Met 4'js
6000 lilt It T ref S
17000 In Mer Mar t 4is
3000 jup ne ii a iu
2000 (In ilo !',,
6000 K C Kt H 4 M Is.
4000 Lie- & M T 5s
7000 do- 7s . .
3000 Louis & Nurt 4a
11000 .Mex P Co on Ser C
2000 Minn i St L Sa ..
6000 il Ht 1' hSM 4s
7000 Mo Kan & T lat 4a
1000 do fd.ls
9000 Mont I'o'.icr Sa
3000 N Y C i. II 3". a
1000 N y c ft Hud 4aa
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Alaska J Gold MlnM
AlstVi rtnM MlnM
! Arb-rhilmets Mf
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Am Root suctr
Am tlrake 9 & F rf
Am Can . .
Am Car i. Fdy
Am Hide & l-cither
Am Ire cecutltlei .
Am l.lnveofl
Am t.lneed pf
m Lecmothe .
Am I.rcomMUp pf .
Am Fmi t & Itef
Am melt A Hcf pt .
Am 'teel Kou-.tlrlcj
Am .'usat lief . .,
Am Tel , Tel ....
vm Tobacfo
Am Woolen tr red
Am Woolei pf I r
Am 7lne l . lm
Armenia Cop M
AcrhliI Oil
Aleh 'Ion & i V
Alrh Top A S V pf .
Itr Irt-n In lots Works
Ilald I.oro Works pf
llflltlmrrp A Ohm
llaltlmcre ft Ohio pf
Hrocklin Hap Tr
Hush Termini!
Iliilte X urerlr
i Ml I'elro'cum
( al IVIro'c'im pf
( annllin I'lfltlr
f enlral I.elht-r
thandlrr Motor Car
( he'ipeakc A Ohio
chile copper
rhino rnnriT
thlcaeo Ot Weil
thl Mil A Si I'
CM A Nrrthrt cstorn.
Chi It 1 A IMe
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FRANCE DECIDES
TO LEVY TAX ON
PROFITS OF WAR
Chamber of Deputies Passes
the BUI by a Vote
of 470 to 1
Sales in Philadelphia
Hllth
30.,
964
44
46
794
454
36"
67 t
SOCIALISTS DEFEATED
102
100,"
109' j
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( onlltiont-il Can .... .'0
( on rrrtliieie lief
Cern I'rod l!of pf . .
t rurlliV' re'
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Deere A Cn pf
Dclauari' A lluihon
Denver A III) '!r
Dl'llll c ( orpi ...
Dome Mines . .
Krle
rrlo 1st pf
l.'rlo 2d pf
den Ch"nil"il pf
(or oral l.lertrlc
(Jereral Motors . .
t'er.eral Motor pf
vJcttlilch II I'
(iru'iu'-Canaiea .
(Jrcat Northern pf. . .
(it Nor rfs lor ore pf
I in scon K-pIn
Ir.t Acrlcullural pf .
Int Harv N J
J 11 1 Con Cor v t c h
Int C'nnsol Corp pf
Int Paper
Insp Con Cop
Int Nickel v t cfs
Int M M cfs or dp
Int M M pr ifs of dp.
Kan City Southern
Kenneeott Copper. .
Lack Miel . .
Ijclede Gas
Up Rubber A Tire
I.iMsri Villey
Louis A Nah
Manhat Kiev Rtd
Maiwul Motors
Max Motors 1st pf
Mav Motors 2d pf
Mexican Petroleum
Minn A bt Louis
Minn A bt I.ouls pf
Mo Kan A Texas
Mo Kan & Tex pf .
Miami Copper
Missouri Pacific
Montana Power
Montana Power pf
Nat tnam A s Co
Nat Lead Co
.Vv Con Cop
New York Air Drake
N V N II A 11
N C A II ft
N V Chi A St L
Norfolk A Western
Norfolk A West pf .
Ncrlhern Pad Ic
Out bllver Mln
Paclllc Mall
Paciric T A T pr
Pciii-jUaui-i H It
Piophs das Chi
l'hllatlelphh Co
Pltt Coil Co N J .
PltlsburRh Steel pf .
I rested b Car Co
Pullman Co.
Itj fcteel Sp Co
Ita Con Copper
Heading . .
Heading 1st pf
Iteadlns 2d pf
Hepiiblle Iron A b .
Republic I & S pf .
Hod. Mand pf
beaboard Air Lino pf
biars Roi A Co
btut rl Cop
bloss-'-hef s . I .
bouili Porto ft Sub
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By YVES GUYOT
IMIlor l.'Aitritrp lonnmlnue ft Flnnnflre.
Special Cable to Ihc Exenlno I.edaer
PA111P, Kel. 2C The Chamber of Dcpu
tlrs hrrn pnilnl liv nnsslnir the bill for n
70H tns; on wnr proOt". by a vote of 170 lo 1,
ir)t. Hut tliid unanimity Uoei not mnKo tno invv
in. nnv bettor Tliorp will be nn Increase of
lOS'ii 100W 1074 ' llle tnx by 10 per cent for nil who tlo not
HlOU 10014 10'I4 nmitu tietlllllllion liuiu ui iiiiiu iii.,
li-VU I UU Ul lllU iiu,iufn .iitv iiiui ......
to two v ears' Imprlbonment with BOO
frntiet One for nil who mnkc fnlo returns
Dut HiIh la only the oecontl stnue of
the financial lcRllatlon by which Depu
ties, who. nceortlliiK to ni;e, Bhoultl bo at
the front, seek to Justify staying at the
I'nlals Hotirbon
The llrst stiiRe was the Income tax
A pi niently that was why It was necessary
to IkrIm by havlnr; the principal measure
aeeepted. ns after tho principle had been
accepted the reserve could bo put In Tho
l'Tiiontc Committee of tho Chamber now
begun to put in tile new requirements In
tho name of nutlnn.il defense It has de
i-lilinl upon an estiaonllnary contribution,
luvled on Income, but nfter tho war there
will bo ntlviuucs of tho Hank of Trance
to be tip lid 11 ml Interest on tho national
debt and what are now called oxtraordl
naij contributions will then be called or
dinal. Already ono Deputy ban proposed a
ta nut on Income but on capital, and
nmithei has pioposetl requlsltlonlnB all
tiiLtoilcH and tin? substitution of govern
ment for pilv.itc Industry. Ho considered
the moment favorable for launching
Kranee Into full socialistic legions
Alexandra Itlbot, Mlnlstei of Finance,
has been verj complaisant toward Social
ist propositions, but Itlbot came down on
the lust plan and It failed by n voto of
anc to 72
These 72 votes represented the Socialist
group The (!ov eminent bus been very
friendly to them They have two ministers
In tho Cabinet and the Minister of Muni
tions, without committing M. Vlvlanl and
M Uri.md, who nlwavs call themselves
Socialists Xevettheless, it Is alvvnn cer
tain that when the .Ministry Is attacked tho
principal blows always come from tho
Socialists They unite against tho Government
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SSi
tnnn v v . mi... . !7.27r ii". 'Al."
4 n v v .",.' i;,"" ; ; !
b: y. :..'?. no; -i Toi iS : :;
8000 N V liny rcf 4b 774 7T 78T
48000 N Y llwj ',li It . ii-! l! if
1000 N y TU sen i',B 8' "'J oil,
f 222 r ,Pai' '"'-r ' 'S 93 '
000 .Nor 1 ac sen Js ... (.j-J b,i.t Si--,
n.,. At. a.
uj-a i.j.8 uj'j
1inlZ ,..i ..'
uj -4 v.,-J 4'.-(
5000 Ore Shurt I. r,r i
S4000 Pa.-lllc Tel Ca
ilnn T "''",' 4 .10S4 to.'!' J.);-.
innS n".ir . '.. ." n r "-U '
17000 Iter, h J rt "1 .. S9!
2000 Hot 'fclMi I u . , SSI.
8000 lloil. .nl, a rM 4a i,;
liv. .4 i ciwrn 1C 4B
1000 hull A I. rti 6s
1000 Svalt A 1, rra la.
:000 huulh P.in 4a
1K000 bouth hi .s la.
S00O do c . t f t 5a
.muu nouui 1 1 ,-ii la
boulhern Pacific
fcoutliern Ry
Southern Rv pf
St.ndard Milllnc pf
Mudebiker Co .
Studebaker Co pf
'lenn topper
Texvs Co
Tobaeco Prod pf
L'nlon His A Paper
United Clsir Stores
Union Pacific
I'niled Fruit Co .
U S Ind Alcohol .
USCU'l K
U S Hcallv A Imp
United It's Inv Co
Un It j Inv Co pf .
V h Rubber
U b Rubber 1st pf
V h hteel Corpn
U S hteel Corpn pf.
Utah Copper
Va-Caro Chern .
Va-Caro ( hem pf. . ,
Va Iron Coal A C .
Wabash .
Wabash pf A .
Wabish Pf 11
WeiU hargo F-p
West Bill
Western Marjland. .
West Union Tel.. . .
Wheel A L K 2d pi
WWu Overland
Woolwoilh F W
Wooluorth F V pf
Quote J ex dividend
.I'M
204
to
7W
904
20)3
,"S
SOW
304
17.
,"i7W
r.o
172
110
904'
20
WIN
110
W
IT 3
17,.Ji
3S4
.!.f.
172
111)
994
20W
.'..S
834
1144 HON 1414 11".4
112
'it
201
101
74
9W
1334
1124
1174
174
47
13
29W
.-.14
1004
S2W
110 no 110
,.7W .17 ,)7
2C5W 202 2(ljij
101 J, 101 Ji 1014
7,S 74
!)W
13 IN
141
1174
17
17
i:iw
2t ,
.'.14
107
r-
'.)
131"
U.'t
lu()
17
47
14W
291 5
MM
107N
J-3W
1314
145
119
17
47
UN
29
5lW
107W
MH
iioj-s 1101 now now
jiooo Houtii r:
3. n la
OH,
934
14
bis
784
nVi
70'J
87 4
tut!
lois 101 '4 lois
. 90 4 90 I 90 I
7S4
CSU
70
874
i
SJ4
SS4
07 H
74
oi.H
704
7'i
88;
J22" feouth Itj c, a 5 .Jos. i6s4 io'
JJW Term V -. Ir lat 5a. 3i 'si ' 95
W, T-V.LJ, V -. .5,4 1054 105'.
01 J, 1044
97. 97-;
167M0 U M 3I..I h a (
1P90 Oo 1 1 - 5a
9000 Llllun l'a. I 11 4a ..
6000 Valm IN,. iM 4a .,
3000 l'u Knja Jl'li .
1000 Va Car 1 am lat is,
I MM Va . y 1U "'
JJO wtthuai lat ; ,1114
ltm Wt: SSi la 91
10J
SIS
90!
a.
38
3 V'.4 311 4
fi 42
. 91
if 94a (
S 14', Mil?
X 1IH 1W
5 14 Jl'l
t
R.MLROAD EARNINGS
CANAUUN PAClPia
"IS Inc.
TMffl vami. Fvhrm-ry, ti093.0(HI I47M0O
Preju July l.. ... 7?,0S3.OQ0 14.J06.000
WUTAUJ. flO HKSTEIJ AND PiTTSBURCIH.
rtal it FubtMt.j 3i0,050 f 77,400
Krum July 1... S. 117.45: 1,0(,I0
wr uitjio siJU'niWESTKiiN
TMcd wi rtjwijjiry, ' t;9,M0 III.OOO
Pram July 1-. .... 7. I.I. 749 79.52
DKNVea AN1 SALT I-VKB
Uccool wtk Kauriiar I3I.7S9
From July 1 1 :i Oil
ATI HISOX
Tn. r .- as .". 71
i.tll.tt
H 1 moniiia srtoaa Tfi ul.4&a)
I9.0H
H7.195
Jim. "U
crtW
40
no
54 J
134
42W
(I
M S41
4015 li
109 10')
SUN SO
11 134
43W 424
20) i 20
ho
10
los
sy), 11
43W
20),
NEW FRENCH LOAN
NHW YORK, Feb 25 While no de
tails are obtainable as et reBurdlnrj the
thai.ii.ter of the proposed new loan to
Kr.ince, It is understood that It will be
secured liv bonds of American corpora
tions toKethcr with those of South Amer
ican corporations and French Government
Fniuiities AlthoURh the amount has not
been ilcnnltcly determined, Wall street In
luiestH who are In a position to know
something ref-anllng the facts stnto that
It will probably be in tho neighborhood
of $200,000,001) and will run for two or
three cars
AccordliiB to cable rdvlces from Lon
don, .1 1 Morgan has collected prelim
inary nii.inRCincntH with the French Gov
ernment for a new loan, the amount of
which is placed al approximately $200.
000 OO11 He is expected to bo to Paris in
the near -future, according to tho ills
patch, anil conclude the loan negotiations
LOCAL MINING STOCKS
" TONO PA It STOCKS
III"! Anked
Ilm Itutlor J" 25
MnrNumarn '? .3
Mliln.15 14 !
Ml-pah Intension 1 2"
Montana -4 -7
.Ncirtlii-rn Star 14 .6
Tminpih llHmnnt 4 " ln
Tnnopth i:lcnalnn 4"a 4 ,4
Tfinnpnli Mlnlnu S 64,
Itovini- nula "fi -0
Wist I'nil . 73 .75
nol.DKIKl.D STOCKS
Allantt 'J "
lllui- Hull 0" -04
limit h . 19 -J
llullilop 01 .03
l" O II . 01 .04
t'unililnntlnn I'ractlon Oil .08
lilnmnniltleld 1111 0: 04
llnlay 01 .05
I'liireiKu . 45 49
llolclllpld I'onaollditnil 9: 94
(Jolilll.M MerBi-r 15 16
lumbn I'xtcnalon 1.06 1 11
Kpwnnia .. .16 17
Oro 05 06
sincl Kon 06 07
Silver IMik 05 Ot.
MI.SCKM.AXI'OUg.
l'alrv Aztoo 01 03
Klmbnrlv "1 03
Nevada Hill 1" 16
Arbnni tin 38 Al
Mvaili Wi.niler ISO 1 Jt&
2" Am Alwjn
41 do pre f
86 Col Fuel
SO Cam Iron
70 Cam Steel
60 Cruel Steel
300 Dla Seeur
"S lllee StBe
400 V.Tit.
966 l.k sup uorp 11
491 Irfh Nnv . 77
6 l,eh Vnl .. 78,
15 l.eh V Tr pM 414
1200 Neindt Con- !'
112 Pennn n II
100 ln Salt Mfp
1 renirn Steel
609 do pref
170 1'hlln Co .
62 do cum pref
286 I'hlla Iller
1 20 do Ir rtfii
505 Heading
100 do 2d pref
20 So Paeinir
loo So Hallway.
416 Tonopnh Del
20 Tonopah Mln
lO'Unlon Trac
Bfil Unit tins lm
1920 L S Steel
Ixiw
94
II
45
79 i
45ji
36H
ii-t
u
57
Net
Close chire
44 .W
45 1
79 "4
4S4 ' U
64
.p fe
fin iJw
67 - H
tOOV? 100H 1064" - 4
70
95 '4
42
41
27 ,
19J,
79 'i
994
20Vi
64
43',
904
63s
70
98
42
44.
274
194
77 i
42
91 "I
504
6.
434
89
824
10
984
42
44,
274
194
79 t
J.
99 4
"A
A
4o
834
-'
1
'U
iw
4
110NDS.
Net
llluh. Irfw Close chge
,A . . n . tr r. na n- 93
1000 Kl A V Tr 4a 814 Jl 8J 4 (J
000 HnrvvM B 6 1024 1024 1024 4
1000 Jnmea F&C 4 92 92 JJ ',
BOO Inl llvs 49 584 684 68"4
2000 Kev Tel lt ' 99 984 99 . ....
10000 I. St rna 4' 102. 1021) 102. I,
-nan t.oh V Hen 4a 94, 9TT4 ..
,.;. ,. ... .. --.,; ,nnl. (fl.U
,,,-3 "'.'.
ftnnn la pen 414 s
snnn 1. Jt M St fls 106
loon I'b Co ron 6a 4
16600 I'hlla 111 4a 84
500 do Ga . . 103,.
lO'lOO rteid'K (ten 4a 95J4
800 Head-Jr Cen I" 96
11000 St Han 6 . 99fa
Bono Un nwy Inv 6a 72 Vn
11000 VVNVP Ben 4a 84
lncren-e Decrease
1024 . ..
1054 106' -i
14 94 ....
84 "4
Inl till
96 ''OfJ
96 '4 95 J.
? 22
721! 72
83 34
-i;
SI
Local Bid and Asked
llnldnln
Today's
Hid Asked
1074 10S
It'uft ft Sua t c "9H
tin rrer
Itrlll JO, . .
Cam Steel
T.lec Storase
tlen Aaphnlt
do pref . . .
Ke Tel
do t c .
do pref
l.k Sup Corp .
lh Nnv . .
I,eh Vol . .
I.eh Val Tr ..
lo preierrea
69 i
36
"'.
64"4
16
72
14
II
1,1
10'
76 T,
78
'2
414
... n .. ihnnln ....... 67
I rilllDJltnn.t. -- ;,
I'nila i-.iec j;.
I'hlla Co 41
do 5 per cent pref 17
do 6 per cent pref 4j
I'hlla Hap Tran 19Jj
do t
llendlnB
Tonopah Ilelmont
Ton Mln
L'n Trac
V O I
I' S Steel
York Hy
do pref .....
Wm Cramp T C
lOVi
79V,
4a
A"M
90
S3
10
17
70
in'i
no' j
1".
81'-
65V
ir,
72J
14
14S
70
11
77
78J4
44,
67 '4
274
424
39,
44V4
20
20
79H
to
44
on "4
83 4
11
.18
73
Yesterdai's
111.1 Asked
107 108
40
69 4
36
".
64 4
ir',
72'4
14
II
'.,
104
764
76'i
414
67
27 4
41
17
44
19
19
774
'!"
r,
434
89'
81
104
174
70
41
Ml
38
81 '4
664
1I5..
72i
14
144
to
It
77
76,
224
44,
B7'4
27 H
4 J
39
444
194
194
78
44
6 'a
44
90'4
834
ll'a
IS
76
RATES FOR MONEY
Call. Time.
New Tork l'jg! 54W3
riillidelphla 14W4 2?,iL,
lloslon 1 ,, J JW
ChlcaBO 344 4 f44
Commercial paper, threo to alx months, l'hll-
tr
ndelphla, 3'4
per cent.
BANK CLEARINGS
Dank clearings today compared with corrc
.pondln drlj;t to e ji5 Jtu
I'hlla . . n.:iJ.951 22.r,46.228 127.971,14
iloston . 37,018.633 25,054,611 25,668,609
New York 502 273,214 29t,301,499 319,877,243
DIVIDENDS DECLARED
Consolidated Ons. niectrle I.Isht and Power
Company of llaltlmore, resular. ouarterly 14
per cent on common and reffular aemlnnnual
3 per cent on preferred, both payable April 1
10 stock of record March 16
HOME STATE
INVESTMENTS
No. 2
Wo Offer and Recommend for
Conservative Investment
First Mortgage Bonds of a
High Speed Electric Railway
operating out of Philadelphia.
The bonds represent less than
fi0 of actual property cost3
nnd earnings show a larpre mar
Kin over requirements for in
terest. The investment yields about
4.95
Tax Free in Pennsylvania
Detailed circular on application
BANKERS
HsTADtisntn 1892
ilembcra A'eto York and Philadelphia
Block Vxchanaea
Ilno.iu and Chestnut Sts., Puiudi
30 I'im: Stiikit Nkw York
.120), V'aU VioU lliol
. l)Vi I15K t!5 055J
. LWi LWj 25)' 20
. &M, hS), MJj SS
Hi 4 4 1
207 212 2011 21U
120 12011 1201-j 12015
r.'Uj van vim van
Liverpool Cotton
MVURrOOL. Feb. 2S. Spot cotton to
day was dull, nnd nine points lower on
the liaelK of 7.7;'d for mid upland. The
ale.i aesregateil 1000 bales, including
2000 bales American, The imports were
14,000 bales, Including 13,000 bales Amerl.
can The market for futures closed very
steady at 11 net decline of 4 0 5 points
Rise in Iron Prices
KUADINU, t'eb S3 The Heading Iron
Company luu ailvanowl the pudtlllni" rate
hr and at Hlandon to S a ton This la
the second advance of 25 cent? a ton In
tuo months, afftctlne 10,000 employes.
DIVIDKNUS
1I1K .IMEltlij.VN GAS CUMl'ANV
101 Market Mrcet, tamdtn. N. J.
February IB. 1010.
A quarterly dividend or i. or 12 00 per
a ha re, haa been declared on the capital
atock of thU company, payable 'larch 1,
1918, to tho etocknoldera of record at 3
o'clock F. JI.. February 18, 1918. Checka
Fill ba mailed.
B. TOWNSEND. 3d. Treaaurer.
OIItECTOItV OF ACCOUNTANT
CutUlcd fubllo AccooataaU
lUAVVRENCE K11ROVVN ."coT
1818 HlUli tiaTATU THU6T UPUXJINO.
To the Holders of
$4,500,000 Notes of
The United Gas & Electric
Corporation
Due April 1, 1918
NOTICE IS HEREBY GIVEN that nil the out
standing issue has been called for redemption as of
April 1, 1D1G. On presentation tu the Fidelity Trust
Co., Trustee, 325 Chestnut St., Philadelphia, Pa., on
that day, holders will receive lOOJ and interest.
THE UNITED GAS.& ELECTRIC CORPORATION
II. J. Pritchahd, Treaturer
In connection with the above notice, we have pur
chased $5,000,000
The United Gas & Electric
Corporation
6 Thirty-Year Collateral Trust
Sinking Fund Gold Bonds
Due April 1, 1915
which we offer to holders of the above-mentioned
Notes at 97 and interest in exchange for the Notes at
10J Yi und interest, difference to be adjusted in cash.
Noteholders desiring to avail themselves of this offer
should present their Notes at the office of the under
signed. Having told ovtr $3,000,000 of thit ie-u, th aboutt
offer ' wbject to withdrawal without notie:
Bertron, Griscom & Co.
Bankers
40 Wall St., Und Title BIdg.
New York Philadelphia
Reilly, Brock & Co.
Banker
306 Che-tout St.
Philadelphia
FOREIGN SALES OF SECURITIES
RESUMED ON MODERATE SCA'
Local Bond Dealers Are Nevertheless Confident of
Future Pennsylvania Steel Meeting Buffalo
and Susquehanna's Big Earnings
Local bankers report the resumption of
the selllnc of securities In this country
for nuropean account this week. For a
time tho movement had been suspended,
but the blR battle around Verdun, Indi
cating a new Clcrman attempt to reach
Paris, made somo of the more prudent
foreign security holders Inclined to dis
pose of somo of their bonds and stocks
having a ready market In this country.
It Is said that many of the Bales of Anglo
French bonds in tho last 48 hours were
"seller 30 days" trnnsactlons. Well-Informed
Interests were Inclined to belleo
that while some of these sales wero for
Holland, where the favorable rate of ex.
change caused considerable buying of
the loan In this market, a good propor
tion may hae originated with du Pont
siockholdcrs when they learned of tho
oud melon cutting
Nevertheless local bond dealers aro
cheerful over tho general outlook and ex
press themselves ns confident of the fu
ture On 'Change tills morning there was
llttlo worthy of comment Tho tono was a
trlflo Irregular, but fluctuatloni wero so
narrow as to bo Insignificant Around
noon Phlladelnhla Company turned strong
on light purchases, doubtless In belated
response to the fine report oc earnings
published yesterday. Lehigh Valley,
Heading, Philadelphia Ulectrlo and tho
tractions nil registered moderate gains.
FOREIGN EXCHANGE
NriW YOllK, Feb in. Tho market for
foreign exchange opened strong for ster
ling, lire nnd French exchange. On tho
other hnnd, marks were heavy. Business
was on it modcrato scale. Quotations fol
low: Demand sterling, 4.76 7-1G; cables,
4.70 7.1G5H 77: franc cables, CSB'jl
checks, r,.87',i; rclchsmnrkr. 73 fr7l 7-1R;
lire cables, G 69 VI ; checks, 6.60; Swiss
cables, fl.23; checks, fi.SJii; Vienna, 12 75
nnd 12.80; Stockholm, 28 25 nnd 28 30,
pesatas, lOWlO.Oii; guilders, 424 and
42 "J j rubles, 31 "i 31:4.
i
NEW YORK COFFEE MARKET
NI1W YOItK, Feb 2". The coffee mar
ket was less active but prices were lower
under scattered liquidation, opening nt 2
to 4 points down Operatlors wero large
ly In tho form of exchanges from the near
to the late months. Match notices
amounted to only nbout 15,004 bags, but
there was moro or less selling of March
as the notices circulated nnd this gave
the market a slightly lower tone, hut the
buying was not of an nggrcssivo character.
Todny'a
opening
IYbrunry
Mnrrh 7.GI
April . .
f.MI BU
arid tho bond list was also quite n
About tho only local news was lhe n,
nnd Susquehanna January report ,
showed gross earnings from one
amounting to $166,776, an Increase ci
per cent, over January. 1916 .vet.r
Including nonopcratlng income til
,,n..nih nmounlc,J to J96,G18. an Incrca
122.7 per cent, and tho surplus
payment of Interest and other cii
J6G.895, a gain of nearly 360 pcr cent
profit and lo!S balanco was $66 895 a
crenso of no Usb thnn $62,313 ' '
Officers and directors of the Per
vnnla Steel Company, the Maryland
Company and Its subsidiaries held e
clal meeting In the offlces of the l
sylvnnla Steel Company today pre,
Feltoh said that the meeting was r
to adjust legal details preliminary t
company being taken over by the
lehem None of the officers could gv(
Information as to when Iicthtehcm
tnke nctlon regarding tho purchase o
remaining shares of tho Pcnns-h
Steel In the hands of the public It
learned that It wilt require two or
months beforo tho legal detnlls wl
adjusted Pcnnsjlvanla Steel stock
steady on 'change.
May
June
July -7.81
AUEUSl T. UU
h.nlimhir 7.91
October t".06
Xocm!er
December ojsts iu
January
urn Tunereo snirs, aoou imci
Yeaterday's
clnsi
7 t-i7 67
7 Iltil!l7 1,7
7 71S07 71
7 77W7 7R
7 Rlrff 7 SI
7 8r.(il7 8li !
7 81IF87 10
7 916S7 11
7 1838 01)
S O-llfDS 0.
8 OSIttS 10
8 11(8)8 13
Southern California
Edison Co.
6 Five Year Convertible
Gold Debentures
Due March 15, 1920
These bonds may be con
verted at any time into com
mon stock, now paying 6t
on the basis of 11 shares o
stock for each $1000 deben
ture.
The earnings of the Com
pany arc steadily increasinr
After paying all fixed charge
and setting aside 15 of gros
earnings in a separate deprc
ciation fund a sufficient surplu
remains to warrant a 7 divi
dend on all stock outstandint
Price and full information on
icqiicst for CUcular .Vo. "js.
WilHamP.Bonbright&Co.,
MORRIS WISTAR STROUD, Jr
Manager
437 Chestnut St., Philadclp
New York lloslon t)tt
Iomlnn iarls
William 1". Donbrlcht . Co Donbrltht 1
Pittsburgh Coal Company
(of New Jersey)
Plan of Readjustment
To the Holders of the Preferred Stock and Common Stock of the
Pittsburg Coal Company (of New Jersey) :
The Undersigned Committee at the request of tho directors and
the holders of substantial amounts of tho preferred stock and the
common stock of the Pittsburgh Coal Company (of New Jersey),
have prepared a plan for the readjustment of the lespectivc rights
and interests of tho preferred stock and common stock of said com
pany, which Plan has been approved by all the directors of said
company.
Stockholders are reminded that at present thoio are two cor
porations, the Pittsburgh Coal Company, a Now Jersey corporation
hereinafter called the "New Jersey Company?' the stock of which
comnanv is owned by you nnd whose sole asset consists of stock of
the Pittsburgh Coal Company, a Pennsylvania corporation herein
after called the "Pennsylvania Company," which company owns and
operates the coal properties.
In brief the Plan provides (a) for an adjustment and refunding
of the accumulated -mpaid dividends on the preferred stock of thi
New Jersey Company, and (b) for tho elimination of the New Jcrsej
Company through an exchange of the stock of the Pennsylvania
Company, in the treasury of the New Jersey Company, for tho out
standing stock of the New Jersey Company, thus effecting a savinp
of the large expenses incident to the existence of an unnccessnr)
organization. " J
Holders of the Seven Per Cent. Cumulative Preferred Stock of
the New Jersey Comnany will, for each ?100 (par value) of such
stock and all ncciucd dividends thereon (amounting as of Januarj
1st, 191G, to $44.58 1-3 per shnie), receive Six Per Cent. Cumulative
Preferred Stock of the Pennsylvania Company to the par value of
$133.33 1-3. Holders of Common Stock of the New Jersey Compan)
will, for each $100 (par value) of such stock, rcccie Common Stocl
of the Pennsylvania Company to tho par value of $100.
Copies of the Plnn and Agreement of Readjustment and form5
for assents to ho signed by stockholder may be obtained from anj
member of the committee or from the Secretary or Assistant
Secretary of the committee.
The committee only undertakes to represent and protect the
interests of those stockholders who expressly authorize the com
mittee so to do by filing their written assents with tho committee
nnd becoming parties to and observing tho provisions of the agree
ment in respect thereof.
Stockholders are requested to file their written assents with
the committee not later than March 31st, 1016.
Address all communications to
I. 3. I.eMOTNK.
Secretary of the Committee,
Henry 'W. Oliver llulldlnr.
rittsbursh. Ta,
or to
nnwAnn c. nAit.i.v,
Assistant Secretary,
24 Ilroad Street.
New York City, N. T.
J. D. LYON
A. W. MELLON
GEORGE T. OLIVER
J. B. FINLEY.
HENRY R. REA
JOHN I. BISHOP
A, J. MILLER
HARRY BRONNER
Readjustment Committee
Merchants! Your Spring ;
Stock Need Not Tax sffi JS r '
offers the Ideal mcana of securing ampla sPr"f I
and Easter stocks without tying up ready assets.
Repayment made easj. Loans n(ade at business,
men's rates Write for details or call tp see m
Hoffman.
Supervised by State Banking Department.
PENNSYLVANIA
LOAN COMPANY
1507 Arch Streetv
LOVIS J. KOhB, Pre).
HOWARD II. HENRY, Y. Pres.
Ii. JtBO HUXT, V. Pret. and Treas.
revvvvvv&s
GRAHAM &CO.
BANKERS
35 Chestnut Street
City of Philadelphia
494 Bonds, due January 1st, W8
Price 102ra and Interest
Legal Investment for Trust Fund .
Free of Pennsylvania Stale Tax UN
United State Goyernraent Income T
n i
J
;f l-li asf -
.7i;7
TJ4T4 UHNMNWClaV M WlWf
UUIUVU & SFEAKUAKi
.0f,'li
'xam awufaa.
-
Jk,M
a-jgaBiapj