EVEKIfrfl VJZVGmi--V'TTTTrAT)'VT,imA WEDNESDAY, MARCH 1, 1910,
is
FINANCIAL NEWS
l WEAKNESS AND STRENGTH FOLLOWED
JjiAtJl UlIXCiX.rU.N SJJtXJL J OXVUIV XXV-CULfAiNVj
Excessive Liquidation in First Part of Session Indica
tions of Renewed Accumulation Dy strong interests.
Copper Shares the Leaders on Late Recovery
High Points in Today's Financial News
Pennsylvania Railroad annual report good, as were the January
,nmina$. Heading also reported pood earnings for January, as did the
vim York Central Railroads etill buying rails. Wire products boosted
tea Ion. Piff iron production in the United States in 1916 reached al
tnfnl of '9,B1G,21,' tons, an increase of G,B8S,9G9 tons. Several companies
Arclarcd" extra dividends, among them being Lorillard Tobacco, Finance
C0tnpany of Pennsylvania and Cosden & Co.
NEW YORK, Mrtrch 1.
rrt.n stock market passed through thrco different stages In tho courso of tho
j .. ,iiii weakness and strength In close sequence. There was excessive llqulda
lil lion In tho first half of tho day, when prices gcnoially yielded to tho lowest rnngo
V rflAOhed SO inr CtllS yciir, mm i mu buiuu mini utunoii uumin u"iii mum Jiu-
Al rVU , Lal laal. I. 1....M.. ....1. .. 4 HAhIIhIIhIIii (.Ihm
nOUnCCdi Willi OllCnngS Ul HUUIl aiuuit. Ill iuu vuiumu m vuiiuiiuuiij. lUWUUUK
lAtrAld.
i n0 liquidation apparently bcncfltod tho market to a considerable) extent,
. tie technical pobltlon was further strengthened by Increased sales for short
account. Whllo the selling for both accounts was In progress thoro wcro Indica
tions of' renewed accumulation by strong Interests.
One houso took 15,000 shares of half a doeon stocks, and there- was qulot
buylnffo many other Issues, which was offecttvo in causing pronounoed ntrongth
In tho late trading. Tho coppor stocks woro especially helped by tho fact that
Utah, Butto and Superior, Chlno and Nevada Consolidated dividend meotlngs
will bo held tomorrow. Incroasod dividend payments have boon prcdlotod on
theso stocks for two weeks past, and tho Impression prevails that If these pre
dictions are fulfilled tho copper stocks should bo placed In a much firmer position.
Tho copper producing stocks wcro In brisk demand In tho last dealings and
led tho market In tho recovery which then occurred.
Industrial Alcohol was In good domund all through tho day, although at
times It weakened under bear pressure, but mado a substantial net gain nt
' e closo. There was a gonqrnl disposition at tho end of the day to regard all
development In connection with tho submarlno situation and tho position at Verdun
as being discounted, and tho opinion was genernl that tho market had also
been helped materially by tho general liquidation of commission accounts.
Railroads Continue to Buy Rails
"Railroads In this country aro continuing actlvo purchasers of rails, noccnt
orders received by tho United States Stc6I Corporation's subsidiaries amount
to 47,000 tons, 20,000 tons of which camo from tho Southern Railway and 27,000
tons distributed In small lots nmong many other roads. Bales of rails havo
teen made for delivery In 1917, and thus far orders from threo railroad systems
for next year's shipment total 70,000 tons.
Belief That Mercantile Marino Committees Will Agree
Certain developments of tho last few days havo led some to bcllovo that
the various committees representing tho security holders of tho International
Marine Company will got together and agree on a plan of readjustment which
will climlnato tho necessity of threshing tho matter out In the courts. Thero
' have been conferences recently between some of tho Intcicsts ropiesenting tho
stockholders nnd bondholders, and this has given color to tho rumors current
that a settlement Is Imminent nt an parly date.
Wire Products Boosted $2 a Ton
A further advance of $2 per ton In nil wire products, making wire nails $2.40
perlOO pounds, and other products In proportion, makes wlro prices higher than
at any tlmo slnco 1900. Tho present price of wlro nnlls Is $1G per ton higher
than this tlmo last year and shows an Increase of $6 per ton since January 1
this year.
NEW YORK S.TOCK SALES
IIlKh. I-ow. Close.
138 13S 138
9 0 9
21 20?i" 20;
28 20 27H
77 75 75U
G5K 03 GSM
07 G4W G7
fiSM fiOJS C7M
110 110 110
G5H H 05H
169 157 1C9
115M 115M 115M
52 62 52
OH OH 0M
47 45 40
2S 2SM 28H
21 20 21
39 38M 39
GSH COM 08M
Lust close.
Adams Express 130
Alaska J Gold Minos.. 0
Alaska Gold Mines.... 21
AUU-Chalmers Mfe.... 27
Affis-Chalmers Mfe pf. 77
Am Ac Chemical GG
AmBeetSucar 05H
Am Can 5SJS
Am Can pf 110
Am Car & Fdy GG
Am Coal Products.... 159M
Am Coal Prod pf 110
Am Cotton Oil 52
Am Hide & Leather. . 9M
Am Hide &L pf 4715
Am Ico Securities 28JS
Am Linseed 21
' Am Llnsoed pf 303
Am Locomotive 073
AmLocomotlTO pf,...102H 100W 100W 100VJ
Am Smelt & Jccf 07M 075 05M 07M
AmBmelt&Rof pf...lllH 112 112 112
Am Steel Foundries... 52 60M 49K 40M
AmBucarRof 1 109W 109M 109H
Am Suear Itef pf 118 110 110 110
AmTel & Tel 12754 127M 127H 127M
Am Tobacco, 192M 191H 101 101
Am Woolen tr rets.... SIM 52 COM
Am Woolen pf t r 08M OSM 08M
Am Writing P pf 11M HJi 11
Am Zinc L & Sffl 77M
Anaconda Cod M 85M
Assets Realization 6M
Associated OU 68M
AtcttTop&B F 103
AtchTop & a F pf.,.101M 101J4 10IM 101M
Bald Loco Works 102 102M 09M 102M
Bald Loco Wks pf 109 108M 108H 108M
Bait i Ohio 85M 85M 85 85M
Bait & Ohio pf 70M 76H 70 705S
uawpuaj Mlnlnff 2 2 2
Bethlehem Steel 460 450 450
Bethlehem Steel pf....l33 130 130
Brooklyn Rap Tr 85M 80 85M
frown Bhoo pf 00M
Butte & Superior 89M
Cat Petroleum 28M
Cal Petroleum pf 59
.Canadian racMc...107
inuu Leather 52
78H
85M
5M
6SM
103
70
83M
55$
G7H
51M
08M
11
78M
85M
5M
G8M
101M 102
0QM
02
28
59M
00M
88 L
20M
57
104M 1G2M 10t
52M 51H 52M
450
130
80
00M
02
27
58
0OM
01M
23
57M
34M
03M
89M
COM
22M
55M
34M
02M
00M
0155
23
67
3IM
025J
128M 123 128M
125M 125tf 125M
17JJ 17M 17M
41 395( 405 j
475$ 47M 47i
705f 7Sii 70
131M 130H 131M
2151
Central Leather pf....H0M 1105i 110M 1I0M
vuiamer Motor...., ., 00
Chesapeake Ohio.... 01
j Chile, Copper oj(
Chlno Copper 555f
CUcaw at West pf .. 34M
Chi Mil & St P..;.... 03M
Chi Mil it Bt Ppf....l2S3f
Chi Northwestern .120
Ch Rl&Pac 17M
Col Fuel & iron 41
ComputTRee Co.... 4754
Continental Can 795f
Consolidated Qas 13m
vgin rjoaucts Ref.. . 21 215i 20M 2lii
rwiKirS."F pf 0flJ5 06! 05 08'
ffi rl B,e' pf U2H H2M 111 111M
SX!Mm luear -100 18051 18054 1S0M
tm: Am.Eu,8" Pf107M 105 105 105
, nffi',I1i,e.d "Jf'' . 87 85 85 85
lhS?SJ,atch 105 1"2M 102M 102M
J bo'i'a 4W H
iiEleeStofaw'Bat.'.V.V. 625f 02M
, etia ij pf 6o g.,
nS6?''' 60M 505S
0S?SSh1 9" 5 285 285
' Bnnmiu.7 "" ui u sua ivo
OoSSi.1?" 47S 46 400 400
rnrJSfr5BpPf .Hi 114 111 114
Jt VoMf1 ' "." mi MX 88 Wi
'otKnfrap,''."I20H 120M HOJf 120M
d..r"! . 39M 41
:lm"rt""M ....., 21
lot lwi.ii..i '""u.r'l
2354
623f
355i
51
5054
24
02M
35J4
6154
504
i nsncuitural on
2 15 i 2054 21
1025i 10254 102M
w
yConCorrT .h
Pper Co.. . ,.,
:( Paper Co pf. . .
sn Con Cop .
? Nickel vt eft ..
J? Mile of dp ".
feM M PI c of dp.
m City Southern
rPS? tt Copper
tjck, stoi eg ;
itfU Valley
gaiiTaa-"'
Ynyoxx e Co
ffSft Nasi,
I kay cos
M tot btoie.
g;M Wotots 2d pf
1854
1U
4414
4454
46(
1554
6454
2554
5354
74M
7754
49H
21
103
21
Oltt
109
114
1054
0
4354
4454
4554
15
6554
2551
5354
7354
76
4954
2Q.M
21 21
6054 G054
108)4 108J4
114 114
"1654 1054
0M
43
4354
42
1454
6154
25
52
7254
70
4854
.'054
054
43
4454
4454
15
63J4
25
5354
7354
70)4
485a
2054
IDS. 19154 191M
1215 J2154 12154 121M
80
52
O'J
81
455
SO
80
504
024
83
44h
065
80
5054
5814
82
4254
80
5054
6054
83
44
95'J
Iist cloeo.
Motion Potroloum pf. 98
Minn & St Louis 5
Miami Copper 35)4
Missouri Pacific 454
Mo Pacific tr cfs 4!f
Mo Kan & Texas 5
Montana Power 70
National Rlscult 12154
Nat Cloak & Suit .... 75' 4
Nat Emm & S Co.... 23)4
National Lead 00
National Lead pf 115
Nov Con Cop 10)4
Now York Air Ilrako.,141
N Y Nil &II G7M
N Y C & II R
N Y O & West ....
Norfolk .1 Wcstotn.
Northern Pacific...
uiu ourei aim ujs ti
Pacific Mall 25 27
Penn Railroad 5054 57
Peoples Gas Chi 10254 103
Philadelphia Co 4054 4054
Pitts Coal Co 8 J... 30 2954
Hits Coal N J pr 104M 105
High. Low. Closo.
95 95 95
454 4 454
3554 31 344
4M 454 454
454 4M 4M
5 4M 4M
70 08)4 70
121 121 121
71 74 71
2354 23 23)4
0554 05!4 OSM
114 114 114
10 1554 15M
11054 13754 111)
075 COM 074
.10354 10354 102)4 lfftM
27M 27" i 27 '.'7
115 11454 111 HIM
112 112 111)5 112
05s
25
5UM
103
3954
2354
103
0354
50M
GM
27
67
103
40
2954
105
0JM
5054
4)4
3854
09
2454
81
4454
45
4854
4)4
3K34
094
2155
82
44M
45
40M
Pittsburgh Steel pf.... 05 93M
Pressed a Car Co 52 5154
Pullman Co 102 10254 102M 10255
quicksilver 4M
Ry Stoel Sp Co 39
Ry Stool Sp pf 93)5
Ray Con Copper 2154
Readln: 83
Readlnz 1st pr 40
Heading 2d pf 40)4
KopubUc iron & 8.... 4955
Republic I & S pf 110
Rock Island pf 54
St Louis & S F 4M
St L&S F 1st Pf.... SM
St L &S F2d pf 554
Sears Roo & Co 171H 171
Shat Ariz Cop 3754 37)4
Sloss-Shef S & 1 55 55
Sloss-Shef S &I pf.... 08 0754 0755
Southern Pacific 9754 9754 9054
Southern Ry 1054 1954 1054
Standard Mllllne pf... 80M 8555 8555
btuueoakor uo 13055 13754 133
Term Copper 55 5454 53
Toias Co 19S54 201)
Texas Pacific 755 755
Third Avenuo 5955 6055
under Typewr pr 110 111
Union Iiag & Paper... 755
United Cigar Stores... 954
Union Pacific 133)4
Union Paclfiopf 84
US Ind Alcohol 144
U Bind Alcohol pf.,.100
United Fruit Co.
U B O I P & F
4)1
38M
0954
2455
8354
44)5
4555
49M
110)4
4)4
7)4
5)4
103
755
59M
111
7)4
9M
13154 130M 13154
8254 8154 8155
151 14255 151
10354 103M 10354
14055 14155 13055 14154
1G55 17H 1055 1035
754
055
11054 110)4
54 J
4 4
754 7)4
4 4)4
1G8M 171
3534 30)4
55 55
0754
00M
1054
8554
135M
5454
200
755
60
111
754
055
United Rys Inr pf.... 2854 2754 2754 2754
U b KuDDer. ., 4954 4954 4754 40
U 8 Rubber 1st pf.... 10754 10055 106M 10054
US Steel Corp 8254 8155 7054 8054
U S Steel Corp pf 11GM '11054 110)4 11054
Utah Copper 8355 8454 82 84
Va-Caro Chem 4155 4454 42)4 43M
Wabash 1355 1355 13)5 1355
Wabash pf A 4255 42 4154 4154
Wabash pf II 2554 2555 2554 25M
WcstE&M 0354 03 0054 0254
Western Maryland.... 25 20 25 20
West Union Tel 87J4 8754 87 87
Wheel &LE 1st pf... 11 1354 1255 13M
Wheel &LK 2d pf... 4 455 4 4)4
Willys Overland 200 206 200 200
Willys Ov pf s rf f p.. 103 10234 10255 10255
Wisconsin Central 38 3555 35)5 3551
Woolworth V W 110M 11954 110 119
WooIrorthF W pf,... 12455 12454 121J5 12455
Quoted ex dividend.
Tutul tuilex, 760,000 fcharfn. compared with
BSU.40O kliureii, rentcrdajr- tbui fur tnls week,
2,100,400 uuresi name period lat Heck, 00S,
4(H) share-i.
LEOAL ADVEltTIBBMENTa
3S NOTICE lb 1IEKICUV U1VEN THAT
--' the underelvned haa been appointed
auditor to audit, settle and adjust the account
of the ComniouweaUb. Title Insurance and
Trust Company, committee of the estate of
CHAHI.Ea ELLIS, a lunatic, wblch account
has been flled la the Court of Common Pleas
No. 3, of Philadelphia County, as of December
term. 1S7 No- 1131, and that a meeting for
the purposes of his appointment will be held
by the said auditor on the 8th day of March.
1016, at S o'clock p, in., at bis office. 104 Lin.
cola UuUdlnc. fhlladelphU, when and where
all parties who have claims, or deslra other
wise to be beard, may appear or be debarred
forever tar coming- in upon said fund.
I. EMANUEL, BAUDEH, Auditor.
01 Unooln Bldr.
FAKTNEIlHInrS
NOTICE IS IIERKMY GIVEN THAT THE
partnership heretofore conducted by Jacob
M, Uruner and WUllum 1'. Ilruner. tradlns as
J. SI. Uruner 4. ('... coal dealers, at 4015
Ulrard ave Philadelphia, has been this day
dissolved by mutual consent ..
t IT BltUNER.
W. P. BIlUNEK.
Tb business of J It. Brunw fio., dealers
in coal will Jw conducted pf rn MffftJ"' 5
the abotv addrea J II. UKIWE&.
Uarb I. 1!U
New York Bond Sales
i.SS: Alaska Oold rtt 6s.l0aS 103(? 103'4
iJ5S8 Amer Sme't Sea 68..l!o5t 109H 110H
IS882 AmorTetclt 4s..... 9li 9lS 91H
'nh Amer 5.' eonv,4il 100(1 100?i 100?l
j000 Atchison g?n 4s... , 9451 im4 94;
J00O Atchison ndj 4s. ... 8?! 87(i 87
1000 Atchison 6s .7 " lol'i 101'i loitS
00 A an Co Lino 1st 4s SI 9J 92
2000 Allan Co I.lno 4'4.. 03 92 12
2000 Jin t A Ohio 3tie .,95 95 96
.222 J!" ' ohl 4,,... OlH 91'4 91'4
SOOO lialt ft Oh Swn Ha 91U 9lU 9l'I
J2J JJeth Stl 1st 6s... 103'. J01S loij'
J000 Urlm Hnp Tr Es '18 100S looli 1004
,5222 S;rp! .Un..ronB. ... loots 100 ioo4
SSS .9fW leather 1st fs.lOlti 10l4 101.
0000 Chill Copper 7.... 1295 l9'i 129.
9000 Ches tc Ohio 4 ',4b.. 92(i 92 92
1000 Cons One t'o 6s.... 120 120 120
12222 Chl " 1 Jlnt "1 "8li 98H
2000 Chi II & U 111 3'4s.. 86 186 86
20600 Cll Mil A St 1 ov 6s. 107 JoCi 107
14600 Cll M A 8 I' cv 454s 100'i 100 10054
4000 ChlncBO rcta 6s .... 76" 76Vi 76 (i
2000 Col ft South 1st 4s.. 02. 924 921
6000 Chi Itwy Cs 9BJ4 98k 98i
1000 Del ft llud 4s 1918.100 100 1004
10000 Den ft nio ar 4s... 78 78 78
17000 Dls Secur Corn 6b.. 71 71 71
8000 Erlo conv 4s Ber A. 72 714 71)4
10000 Krlo conv 4s Sor II. 78i 784 78
7000 llrlo prior 4s S6U 86 85
2000 Gen Eleo deli 6s.... 104'. 104'. 104'.
8000 Indiana Bled f.s. ..los1! 102U 102i
1000 loivn Centrnl rof 4s. 67 67 67
2000 111 Cent 4s 1063 (, 804 80i
6000 Ins CoDrcr cv CS....178 17(1 17b
10000 Interb Met 4'4s.. .. 7.1 7.1 71
.6000 lntnr Mer Mar 454s. 96i 96 95
80000 do ct 96 95 96i
2000 Int Nnv 6s 94 94 9t
6000 Jap new O 8 454s.. 70 7fi 70
8000 Japanes 454s 86 80 8H
3000 Lin ft M T 7s 120H 11 t2C4,
3000 do reft . 126t 126, 126
40000 Mot Pot Co Cs scr C 106(4 106 106
3000 Minn ft St I, 4s ... OP, 61 61
2000 Mo TCnn ft T 2d 49 46 46 16
6000 Mo Too 6s 19S0.... 8854 88l4 8854
1000 Mo Poo cone 6s 100(4 10054 100n
600 N r A Brake ovt 6S.103J4 1034 1034
S8000 N Y C ft Hud 4i4s 94J 04 94H
1000 NT Ch ft S U 1st la 044 91. 94i
42000 N T Cont 6S.......113 112H 112
3000 N Y City 4s 1060., 984 08 985
.1000 NY CUy45. 1900. .102 102 103
28000 N Y Ilvy ndj 5 on 6954 6954
10000 N Y Tel Ron l'4s.. 98'd 08 981
6000 Nor Pae prior 4s... 0.1J4 93i 93fi
9000 Nor Pno koii 3s.... C0 66, nnS
6000 l'aclflc Tol 6s ... .100. ions 100
30000 Pennii 4s 1948 08 08(4 'ls'4
6000 il.) Kon rt 4VH ....102 102 102
cooo do en 4'4b inr.i inr. 'i. ior?4
1000 Public Serv N .1 6a.. 90 90 10
liooo Itondlnir ten 4s.... ir. 95 or,
500 Hepuh Culm. 6n 1904, 99 9(1 99
1000 Iter Ir ft H 6s 995 io 91S
looo at t, l M & a 4a.... so so mi
6000 do 6s 101J4 101 101
6000 South Hell 6s loo. 10()i ioo
7000 Houth Puc ev 4a 87'4 S7 87
10000 do cv ret f p 6a. ..101 lo.i4 10,11
1000 do rM 4s 90S 90, 00
26000 South Ily on 4.. 7l(a 7l'i 71U
17000 Kouth ltwy con 6a.. 101 102 lni
1000 Toxna Co Ca lOIJa 10r., 105
8000 II O llllhbor Cs 102 lOJld 102
6000 ir H kici-1 6s nf..inr, in44 int
600 ir s Bteel rcf 5a. .101", mi'J in4
7000 West Elco Ca 10351, 103 101
7000 West E ft M iiv 6n.l23'4 12.l'4 12114
2000 West Union 4'4s.. 95J 96 955d
Financial Briefs
Tho Arm of CUtlni, Jlorrls & Co admit
ted to Its partnership Howard H. I.lc;
Bctt. Jr.
A membership In the Chlrnc; Hoard of
Trndo has been sold for $1200 net to tho
buyer. Tho seat ot W. O. l'rliiRlo lias been
posted for transfer. It. D. Flood has ap
plied for membership. Theso new mem
bers havo been elected : A. W Jordan, "W.
13. Iblstern, J. J. Ilowan nnd II. O. Wil
son, nt Chicago; John A. U.iriell, a son of
Flnley Barrell, and AV 11. Amloif-on. of
New Yorlc, and C. I,. Graff, of London, a
partner of Raymond, Pynchou & Co.
The exports ot copper In February
amounted to liO.IilS tons.
rtadcllffo Choston, Jr., has been ap
pointed manager of the Investment de
partment of 13dward B. Smith & Co.
Tho Baldwin Locomotive Works has
lecolved orders for tho following locomo
tives: Ono O-G-0 typo for tho New Jersey
Zinc Company, one O-G-0 typo for Hard
nway Contracting Company, ono Mll;ado
typo for Arizona Lumber and Timber
Company, ono 2-H-2 typo for West Lum
ber Company, sevon 0-1-u typo for Sloss
Sheffield Steel and Iron Company, fifty
Mikado typo for Bnltlmoro nnd Ohio Itnll
road Company, ono 0-4-0 typo for Great
Lakes Stono nnd Lime Company.
Tho Commercial Trust Company as nt
Starch 1 reported deposits ot $-!0,G 10,089,
surplus and prollH $1,T33,G2I, pergonal
trusts $11,592,065, nnd corporato trusts
$254,517,500. Capital $1,000,000.
Tho Lehigh Coal nnd Navigation Com
pany gives notice that tho Lehigh and
Delaware Division Canals will bo opened
for navigation March 15, 1016, weather
conditions permitting. I. JT. Church is ap
pointed canal superintendent, with ofMco
at JIauch Chunk, Pa. Tho position of as
sistant canal superintendent is abolished.
First National Bank stock rose Bi at
today's local nuctlon sales. Finance
Company of Penrisylanla was up 4,i,
whereas Glrard National nank fell l'i
and Fourth Street Bank 2(4.
LOCAL MINING STOCK
TONOPA1I STOCKS. . , ,
Bid Asked
,11m Butler -
MncNamara J J -J
Midway 4 '"
Mlzpah Extension .., 1J .20
Montana -' ;
Northern Btur .IS "
Tonopnli Belmont 4H y
Tonopah Extension 4 fy y-f
Tonopah Mlnlne n Q't
llescue Eulft 10 .11
West End 74 .76
OOL.DriEI,D STOCKS.
Atlanta 17 .18
Blue Bull "7
Booth 3J -JS
Bulldos 01 .01
COD O3 '"I
Combination Traction Oil .08
Dlamonddeld B B 02 .03
Daisy OJ .07
Florence !
Uoldtleld Consolidated , ,,,, ,90 .91
Cioldtleld Merger .14 .15
Jumbo Extension l.OO 1.01
Kewanas Jg .17
Oro 3 -00
Sand Ken OS 08
Silver Pick 04 .03
MISCELLANEOUS.
Falrv Azteo .01 .0
Klmberly ?l 01
Nevada Hill J .-'0
Arizona Un ,39 .45
Nevada Wonder 1.S0 183
NEW YORK CURB
UNDER PRESSURE
Midvale Rights Mado New Low.
Movements in Pool Engineer
ing Erratic
NBW TOHtf, March 1. After consltlcr
ftblo hesitation at Iho outset in tho mar
ket for oulsklo securities today, n further
downward tendency developed In nil tho
Important Issues duo to the conflicting
Btato of nfTnlrs nt Washington. In tho
oarly session, prices wero well maintained,
although trading was on n, small Bcalo.
Lator In tho day moro pressure dovel
oped and prices ran oft materially, cspo
clally tho moro important sharos. Aetna
Trploslves, after a show ot firmness,
yielded over a point; Atlantic; .dutt nnd
West India Issues declined ?il! Chovro
lot Motor fell moro than 3 points; Cuba
Cano Sugar nearly a point.
Mldvalo Steel, after a small lmprov
ment, reacted a point, whllo tho rights
went to n, now low lovel. roolo Englnocr
Ing nnd Mnchlncry showed tho usual fluc
tuations, moving nt a rango of 10 points.
KcIly-Sprlngfleld Tiro wnB moro actively
dealt In nt a lcccsslon of moro than a
point.
INDUSTBIAU
Alnrrlcnti-iirltl'li Mfg
Atlantic Gulf & W 1 8 8..
do nref ,
ill i-Al- irnitmlrv H'
AJst Hubhor inc w I,
Cnnmllan 1
Foundry prof. .
no w 1 ..... .
& rdy.
llkl
15
28
44
3'4
f,7
lil
LI1 ?
do rmt) HI
Chevrolet Motor Car 130
Culinn Cnno SuRnr 4C!4
furtlss Aeroplane 47
Drlc?s-Senbury .1315
do rlffhts 11'. 4
juiBKeii A linrKer car 43
Itendeo Mnnufacturlnir
International Mcr Marino
do rrof
Knlly-HprlnKdeld
Knthmllon Bronze prof ..
Mniihnttnu Transit
Mnrlm Munlllnii
Mldvnlo Hterl
Otis lltnvatnr
. . ..1
20
14
00
B7
1j'4
03 Vl
r.;i
Otto Klsmilohr w 1 51
01
90
11
t :
31 1
3.'l
do lirnf
Prprles1 Motor ,
tnoI Kiiir &. Much
St Joseph Lend
H S Kri'PRe w I . ,
Htnnilinl Motors
Hubmnrlnn limit v t c ctfe
Trliitii.n lll,n v f rlfa ...
uniipii I'roiit Hnnrinc 1
V S Light & Unit 3W
flo pfd 1 A4
Whlto Motors w I 4S
World rilm lf4
STANOAHI OU. SOBSIDlArtlllS
Prnlrl" 21 4 W
Ohio Oil iMO
H O ot California 251
HOof New Jersey 00 J
S O of New York 503
OTimit OIL, STOCKS.
Harnett Oil IH,
Cosden Oil IDS
Clmlincrs Oil 0
IloiiHton Oil 17W
Midwest Itellnlnc; 00
Sapulpa IP4
MtNINO STOCKS.
Atlnnta
Ccrro
Bultn (' & V. v t ctfa
Ilutto .t N V
riist N'ntioiuit Copper
tlnliltlcld Merfier
Ilerla Mlntntr
IIno Sound fti
Jim Butler 02
Jumbo Intension I
Mujrmi Copper 17
JlcKlnley-UarrnKh 43
Mines ot America 2
Ntplasliur Clones Co 1. '4
S in Tov IB
West Unci Consolidated 74
West Und UxtellHlou 1
BONDS.
Hrlo rluhtB ..." '4
Baltimore 4. Ohio Oh 101 '
f'erro do I'lisco its US
MldMllo Oh 99
17
3r,4
7
r'4
13V,
44
Asked.
20
30
4B
3i
63
rr
83
131
47
f.2
138
12
45
.10
IBM
70
60
"J
66
00
101
:r,
lor,
i3;
'4
34
s;
IN
34
r.
4114
i
217
22 J
258
001
200
15'4
19'4
8
19
61
ll'n
19
36Vj
7
Ti
0 4
1IH
4S
r,
M
1 1-32
17'4
47
r,-io
1014
120
99'i
FOREIGN EXCHANGE
Ni:W YOUK, March 1. Tho market
for foreign exchango In tho first hour of
business today showed a moderate olumo
of dealings. Tho tono was steady, In
tho main. Ono quotablo chango was an
advance of 1-1G In sterling cables to
1.77 1-1 C Demand was unaltered at
I.7G 7-1(5. Thero appears to bo some
misunderstanding regarding tho technical
position In Hutch exchange. Tho export
of gold to Holland exerts a depressing
influence upon gulldeis. Consequently
any restriction on the outflow of tho
precious metul brings nbout an enlarged
demand for guilders In this market When
certain lots of gold shipped by New York;
bankers for Holland about a year ago
wero held up by tho British Go eminent,
guilders rose to 1 1. Tho outflow of gold
within tho last month or two lcsulted In
a decline in that exchange. Other quota
tions wero as follows: Guilders, 42,4ffj
42 7-1C; franc cables, E.S7 ; checks,
B.87?i; relchsmnrks, 73;73 7-1G; lire
cables, 6.70 ', ; checks, C 71 ; Swiss cables,
15 2351)5.21 for checks; Vienna, 12. 3n
TP13 ; Stockholm, 28.10'((28.15; pesetas,
1913.05; rubles, 31431?4.
After midday tho market continued
qulot. Tho only quotablo chango was an
advanco of 1-lfi to 1.764 In demand ster
ling. Cables held tho early Improvement
at -1.77 i-i(j. Tno oilier market was un
altered as to rates.
RATES FOR MONEY
Call
New Yorlc 1 54 (j 2 '.
I'niiaueipnia 3 '3W!
Boston 3
Chicago 3'4'QW
Commercial paper, threo to si
Philadelphia, 3',4,U'4 per cent.
Time.
!543
3H4P4
months,
BANK CLEARINGS
Brink clearings today compared with corre
sponding day last two years:
1910 1913 1914
I'hlla $42,360,138 J30. 980.983 S29.192.458
Boston ... .14,2.11,606 2U.884.179 31.802,231
Now York. .551,259,721 3J1.168.647 311,048,291
Chicago ., 76.329.011 03.529.109 76,734,507
Pig Iron Production in 1915
Tho production of pig Iron In tho United
States In 1915 nmounted to 29,1)10,21:1
gross tons, according to the Bureau ot
Statistics of tho American Iron and Steel
Institute. This output compares with 23,
332,244 tons in 1914, an Increase of 6,583,
909. Last year's production also was
1,019.939 tons less than In 1913, the rec
ord year; 189,278 moro than 1912, nnd
6.2GG.CGC abovo 1911. The 1915 produc
tion of Pennsylvania was 12,790,668 tons,
an Increase of 3,057.299 over 1914 nnd
104,208 less than 1913.
WE BEG TO ANNOUNCE THAT
MR. WILLIAM M. HUMPHREYS, JR.,
HAS THIS DAY BEEN ADMITTED
TO PARTNERSHIP IN OUR FIRM
R. M. STINSON & CO.
MARCH 1, 1916'
North American Building
Philadelphia
Brown Brothers & Co.
Fourth and Cheotnvt Streets
x'uiladulpiiia
High-Grade Investment Securities
,
Upon request we shall be glad to ertter on our mailing
list the names of investors who desire to receive regu
larly our security offerings. Investors will be furnished
with Descriptive Circulars any time upon application.
Sales in Philadelphia
'"ah
.10 Am n . ...m
loo Am Jiuiinft .. 71
30 Bald Loco ...100
100 Bun A Sua t e 41
60 I) fc Ohio 84 'i
50 Cruel Steel... 71
.13 Cam Iron . 45
100 Cataw let rref 50
632 Kleo Storasro. r,3'4
4 Hen Asnli uM 71 (t
10 11 ft 11 Ir phi. 12
20 Int I'aner,... 0T4
143 Inn Co N Am. 25
100 Kenn Copper. 6394
10 Ke stono T Co 14
46 ilo pref . . . B
910 Lake Sup Cor 104
60 IX'blRb Nav .. 70
39S l,oh Valley... 77'i
46 North Pa ... 01
1366 l'a It It. .. 67
OS Pit Salt Mfe 101
340 l'a St pref.. 084
2S I'hlla Co. ... 40 4
! do cum pref 44
605 Phil Ulec tlh
805 1 H T tr ctfn 19
70 Phil Trae. . 79
30 Hep lr A H.. 49 U
9J0 llentllnfr 03j
60 Ho l'aclllo .... 9'4
.120 Tonopah Pet.. 4
257 Tonopah Jlln.. ni
204 Union Trao ., 43!i
170 U I I 80i
2920 U H Stoel .... slU
10 . do pfd Hi;
200 Utah Copper.. S2'4
50 Warwick IAS to'i
84 W .Itr A S rt. 5t
I Wenttnrlnil CI 01
100 Wm Cramp .. 7oj
BONDS.
I.OW.
.J
100
41
844
71
43
63 J4
71 h
xu
62 i
11
01.
ion
7C4,
91
6H
101
98J4
40'i
44
27J4
184
71
49 U
81T
or, i
0I4
4.1 14
89 4
794
110
82U
io4
r,n5
r.s
7014
tiOW
105',
in
mo
1111
03'
JfiOOO Bald U 1st 6s loSi"
iuuu 10 ft ,ien i.e iii
lOOO-lJn III (Inn r.a ion
60000 I.li N" en 1',b 1111
2000 1. Val trr!i 4n n.t:
290 ,lo Ben. 4'4fl.I024 lnj4
2000 Ta ev 4'4'21 IOsJh lOi
2000 PnCo 08 414".lor4 1054
lioon PaftMd Stl os.lnst 105i
3000 1'hll Co Cnn fm Ol'i 91
1600 I'hlla r.leo 4r S4 83'k
1000 1' W A 11 4r.. 9914 99'j
300O Head (ten 4a... 96? 90
1000 Stnnd (Ins Ca. 99(4 994
8000 Un Ilwy Inv 61 72!i 72U
1100 Welsbli Co On 08 91
Increase. Decrcaso.
Net
Cloije. chire
10OS 2
41., 1
844,
71 .. ..
45 1
65 ',4
71 '1 Vt
ll ::::
tl -A
14
09 ....
tni J
7 .ft
77 lj4
04 '4
67
98 4 .U
40U l'k
44
27'4 '.
18 k
79 n
49U 14
82H 'j
" -,;
89 U it
.801 ,
lin
82J4 14
1o'4 ..
r,n4 14
r.s
70 !4 '1
Km.
Cloo. CllBO.
100 '
Ill .. ,.
inn 4
101 ....
92 ;t H
1021 4
102, 4- 8
106.
1064 .....
93 4
83J4 4
99jn .....
95 4 H
99 Vj 4
72U
98 i
Local, Bid and Asked
Ilnlrhvln . 102
lluft A Sun Ic 41)
do nref f.l
Itrlll JO 30
Todo'n Voaterd-iy's
Bid AHkcil. Hid. Aakod.
lin nil's ius'4
10
t'nln Steel
nice HtornKo
din A nihil It
do pref
Kov Tel
do tr
do prof
I.nko Superior Corp. .
Lehigh .'nv
lichlRli Valley
Lenten Valley Tr....
110 prer
81
1,3
31
71
114
13'4
09
10
76 (i
70 U
21U
4 2 '4
Pfthtln 7
I'hlla i:'loo" '.'.'. .'.'. ".'.'. 27 14
I'hlla Co 40
do 6 per cont prof. 30 U
do 0 per tent pref. 4 I
I'hlla It T ln'4
do tr etfa 1S4
nendlni; 82
Ton Bel H,
II
til)
31
81
ill
36
72
II
14
70
10
70 U
70i
a
Id's
II
4H4
11
l'i
82'n
I 6-tO
6914
30
81
03
3 l'i
71 '4
14
14
0914
ion
70,
77 '4
21 'i
13
60
27,'i
40'a
37
41
19
II
82'n
l'4
42
00
39
SI '4
('. 1
35
72
14i
144
70
11
77
78
21 n
41 Vi
67 n
28
42
31
ll'y
I9'i
111,
83
I 6-10
M
f.
Pennsylvania Co.
Trust Certificate 4s
(Series E)
Due iMay, 19.-.2
I'rlic on Appllnillou
y.
W
I
I
I ... I
INVEST IN MORTGAGES
AT 5.4
Recommended by
BEN T. WELCH
1328 Chestnut St.
COTTON WAS IlffiKdtMIl;
WALL STftEKX HOUSES SOLD
Spot Interests Bcltovcd to Be Llqui
tlnttnr; in Active Months
NEW VDnif, March 1. Irremilarlty
w.ts displayed In tho cotton market at
tho opening thla morning. Mny started on
tho call at an advanco of 3 points, "with
othf-r options 1 to S points lower, due
to tho persistent selling by Wall street
hottnea nnd for Western nccount.
The market In N'cw prlcnns was weak,
nnd thla alfto was reflected here. Soma
of tho Boiling In tho active months was
believed to bo for tho account of large
spot Interests, while New Orleans houses
sold tho Into positions. After tho call
further loies of 3 to S points lcsulted,
beeaiiBo of tho small demand, which at
best Vns scattered.
Later In tho day prices steadied, how
ever, on tho bulge In New Orlcana nnd
local covering, with tho actlvo months
showing rallies of 3 or 4 points from tho
lowest eatly In tho noon hour. Tho talk
ttround the rlngr bo Ur toJy IjM hetni
chiefly concerned with puilticftl war Aj-
IrAlnhmAhftf fevwl nMriA.l.l4iii. .. it.... .jl. t'
.v ....,.. ,.u unwiMWimnn ! 41111V
recuons nave restricteo bnslrtiss.
Tee. elese. Open, nicit I.
Jiarcn .. ..11.24 11.21 n S it i
May 11.44 1148 1148 lis
July II. ef Jl.OQ 5B II 119
October ....11.84 11.82 11.83 It
December .1.97 11 t n.ft
January .., 12.04 11. tl 12 06
Hpot ,.11 35
Lulu
U it U-U
11.96
11.9J
.U
it!!
Ijt5
n.6
Liverpool Cotton
MVEnPOOti, March 1. Spot Cotton (
today was In moderate demand, at an
ndvance of B points on the day's transac
tions nt 7.77d. for mtduplatids. Sale
wcro 8000 bales, Including 6000 ba(ei
American. Itecelpts 20,000 bales, Includ
ing 12,000 bales American Tho market
for futures closed easy at a net decllns ot
l'4S'3I4 points. I
Ferro Silicon Advanced
I'lTTSnUIlOH, March 1, Manutaov
tures of low grades ot ferro silicon hav '
advanced prices J3 a ton for delivery dur
ing tno rcmamucr oi tno year.
MERCHANTS
If ou cannot capltillro nur prollti
If jour tost of st'lllni; la too liluh
If our turn-nor li not laruo onoupti
We onclit lo cet lirnmiliilril
r lis. i.i:i)oi.K t i.NTi:i,
l'.mclency HiiKlnrer llrrtliiiiiillilin: Counsel
Bond Salesmen Wanted
Two Salesmen, oxp. rl. tu oil In tin honil
business to work In I'lillnd. Iidil i una Im
mediate lolnlty Write for Intenlow.
i:. ii. itm.i.i.Ns sons
llil C'lioitiuit M., I'lilliuleltililii
IHHKCTOUY OP AfCOIIXTAVI S
Cfctflllleil rnlillo Iriniiiit.ints
lawiiuncii n iiitcnvN & ro
1616 I11JA1. ESTATl! TllHSf IIUII.DINO
Pittsburgh Coal Company
(of New Jersey)
Plan of Readjustment
To tin
the
Holder of the Preferred Stock and Common Stock of
Piltibtirgli Coal Company (of Now Jersey):
The Undersigned Committee nt the request of tho directors' and
the holders of substantial amounts of tho preferred stock and tho
common slock of the Pittsburgh Coal Compnny (of New Jersey),
have prepared n plnn for the readjustment of the respective rights
and interests of the preferred stock and common stock of said com
pany, which Plan has been approved by all tho directors of said
company.
Stockholders arc reminded that at present there are two cor
porations, the Pittsburgh Coal Company, n New Jersey corporation
hereinafter called the "New Jersey Company," the stock of which
company it owned. by you and whose solo 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 Tlan provides (a) for an adjustment and refunding
of the accumulated unpaid divitlcnds on the preferred stock of tho
New Jersey Company, and (b) for tho elimination of the New Jersey
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 saving
of tho large expenses incident to the existence of an unnecessary
organization.
Holders of the Seven Per Cont. Cumulative Preferred Stock of
the New Jersey Company will, for each $100 (par value) of such
stock and all accrued dividends thereon (amounting as of January
1st, 1910, to $41,581-.". per share), receive Six Per Cent Cumulative
Preferred Stock of the Pennsylvania Company to the par value of
$13:i,33 1-3. Holders of Common Stock of tho Now Jersey Company
will, for each $100 (par value) of such stock, receive Common Stock
of tho Pennsylvania Company to tho par value of $100.
Copies of the Plan and Agreement of Readjustment and forms
for assents to be signed by stockholders may be obtained from any
member of the committee or from tho Secretary or Assistant
Secretary of the committee.
Tho committee only undertakes to represent and protect tho
interests of those stockholders who expressly authorize the com
mittee so to do by filing their written assents with tho committee
and becoming parties to and observing the provisions of tho agree
ment in respect thereof.
Stockholders are requested to file their written assents with
the committee not later than March 31st, 1916.
Addrcs3 nil communications to
I". J. LcMOTNIJ.
Secretary of tho Committee,
Henry W. Olhcr Dulldlna.
rittsburBli, Pa.
or to
EDWAnn c. nAii.i.Y,
AflBtit.int Secretary,
54 rtro-irt Street,
Now York City, N. Y.
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
nim.N'H AN!) rii'IIAKMAN
Tho FlourHn
Messrs. Oscar R. Dare & Co.
Beg to announce that they will continue
at the same address to specialize in the
securities of Public Utility Companies for
their own account, soliciting particularly
offerings in large denominations.
420 Stock Exchange Bldg.
Locust 220
mm '
March 1, 1916
Deposits
$30,640,989.11
Capital
$1,000,000.00
Surplus and Profits
$1,733,6.56
Personal Trusts
$11,592,965.34
Corporate Trusts
$254,547,500.00
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Commercial Trust Company
City Hall Square
A
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