u
EYIDNING t.TOrfTr.TTTTT.AnTCT,PTTTA. MONDAY, MABCHgJl
I '"'il "J ..- -- -i mi ii ' i ' i ' - - -' ' 1
FINANCIAL NEWS
i '
OFFERINGS OF INDUSTRIALS SMALL;
POOLS WERE ACTIVE IN OIL SHARES
I ''Matny Tips on Crucible Steel and Stock Advanced More
Than Two Points Street Had. Positive Informa
tion Anaconda Dividend Will Be Increased
&
High Points in Today's Financial News
OtlC'ifcar loan of $15,000,000 arranged by Argentine in Ncio York.
Extension of two-year notes of the Minneapolis and St, Louis Railroad
for six months declared operative, vending completion of readjustment
plan. Philadelphia bank statement showed increase in loans of $5,:IOS,000
and a decrease in surplus of $i,09S,O0O. Mid of $4000 for Philadelphia
Slock Exchange seat; one offered at $5000 and another at $5500. Last sale
filOO. Crude oil advanced 10 cents more.
New York Stock Sales
.. . . . LMtCloM.
Alaska 1 Gold M o
Alaska Oold Minos.... lo'f
Allis-Chainttn Mfg.... 28J
Allls-chalmera Mfg pf. 77
Am Ae Chemical no
Am At (jnemical pf. . . 08
lllli. tow. Close.
mi m ;i
17H
10)
30
78
08! i
03
C9.l
03) i
CO
111
OSJj
Am fleet Sugar 07'$
Am Beet Suear pf 00
Am Can ,
Am Can pf m
Am Car A Fdy nnU
Am Cqal Products 167JI 159)4
Am Cotton Oil 62 62H
Am Ktprcss 130 127
Am Hldo & Leather... ntj tijg
Am Hldo ft I, pf -18 47
Am lci Securities 28i 28" (
Am Locomotive OilJi 70U
Am Locomotive pf 101H ID:
,m smelt lie r. . .
Am Smelt A Hcf pf
Am Smelt pf A. ...
Am Smelt pf 11.
Am Steel Foundries.
28? J
7
08
S
084
IMi
ma
in
oou
lf8
r.2is
127
Mt
47
281
091
102
U7
112
113
an'i
"il'(
18!
211! j
77!$
0854
09
C8!i
o:!4
mt
in
08't
IfiO'j
o2f4
127
;
17
28' i
70! i
102
COW
112
113
r,n
NKW VOllK, Mnrch (i.
Apparently dissensions In Congress and the attitude of the Administration
on the dcrman submarine activities suit bunlncsn and financial Interests of
tho country. There wna no Indication of uneasiness nmonjr security holdors
oVcr tho outlook, and after brisk advances were made In many slocks In tlio
forenoon, a recession was followed by another upturn, the most noticeable feature
f'6f tho trading of tho afternoon advance being the scant supply of stocks.
Uroker after broker reported over telephones, "So stocks for sale." This con
dition naturally made tho bears uneasy, for, although little borrowing has been
done of Jato In tho loan crowd, It Is known that an overextended short Interest
has been created.
Tho stocks sold at low levels, for both long and short account have gono
Into strong hands, and a large proportion of the supply has gone out of the
Street., Tho quiet nbsorptlon which proceeded while the bears had control Is
now beginning to nssort Itself as a market factor, and Ua Influence may becomo
rrjoro pronounced In the near future. With the outlook favoring the future of
tho leading Industries, there Is no longer any question as to what will happen
when the war Is over.
This Is regarded as assured In consequence of tho t event Washington
developments. In no stock was a changed mood more clearly shown than In
United States Steol common. An advanco of more than one point in thnt stock
for the day and of more than threo points from its low level of a few days
ago may not seem to measure much In figures, but It means a good deal as a
record of Improvement In market sentiment and in business confidence
The subject most talked about In connection with tho Industrials nnd their
strength In today's market was that, If tho future Is reasonably assured, all
tho vast profits made on account of war orders may bo reasonably credited to
current Income Instead of capital account, ns seemed to bo the proper method
of handling thoso profits when It was feared that the area of prosperity would
be mensurcd by the duration of the war. Some of these corporations, llko
American Locomotive, now have all tho business they care to book for domestic
account, nnd In the Wall street district statements are made that large rall-
' road systems are willing to enter the market as buyers of new equipment at prices
In proportion to schedules of finished steel product.
07U OOJi
.112 112
. 0.1 03
. 80 80!i
. fiO fll'i
Am Suear Hef Ill 112 lll'f 112
Am Sugar lief pf H0h 117' 117'S 117'
Am Tel & Tel 127!, V27H 127!i 127'i
Am Tobaea) 10!) 100 100 100
Am Toll pf new inO'i 107' 107'j lOT'-i
Am Woolen .'ilj V2H llt o2'i
Am Woolen pf JH'f IW'f !S! OS'i
Am Zinc I, ft Sm 78'i M'i 7ff SIM
Anaconda Cop M H.Vi 8fl,'j S.V Ml'
Associated (111 OS OS'i OS! OSJi
Atch Top ft S K 102M 101'?, 102) i 102;
Argentina Arranges to Float $15,000,000 Loan in New York
, ' Tho Guaranty Trust Company, of New York, has arranged with the Argentine
.Government for a loan of $15,000,000 for one year. It will he In the form of u
"oneyear discount note and will shortly be offered for public subscription. It
was stated this morning that the basis on which it would bo brought out linn
not been determined, although Intimations were made thnt It would bo around
; 4?i per cent. Tho funds derived from the salo of these notes ore for general
' purposes of the Argentine Government. Only about a month ago the Argentine
Government obtained $18,300,000 from n group of Xcw York bankers, and since
'the war began the total borrowings In this market have been $79,500,000.
llald-Loro Works
Halt ft Ohio
Halt ft Ohio pr . .
Ilntopllas Mining. ..
Bethlehem Steel ..,
lletlilehem Steel pf
JimoKiyn i:.ii Tr. .
lluttn ft Superior. .
Cal IVtroli'iim
C'al Petroleum pf. ..
Canadian Pacific. ..
Central Lralhcr
Central Leather pf.
Ches ft Ohio
Chandler Motor . . .
Chile Copper
(.Iilno Copper
Chicago (It West..
Chleaco 01 West pf
Cld Mil ft St P ...
Chi Mil ft St I pf.
C C C ft St f. pf . . .
Chi I ft P.v. ...
Col Fuel & Iron....
Continental Can
Consolidated (ias. ..
Corn ProducH lief.
Corn Product"! lief pi. 07' j
.101' lO.Vj 101 io.-
SO'j
. 70'
2
. .408
. . 130
... SO
... OlVri
... 2M
... 00' j
...lor.-,
... ra
...UWi
... 00' i'
.. 02',
... 22'V
. .. nov
I2'i
34!i!
IH'i
8-t
70
2!i
179
135
805 i
OsM
20)i
am
70
'.'
IC'i
131!
SO
Ol'i
28
nn
111
01!
0J
23
C7!j
12!
3,V
1131
12'-'1 120Vi
MOV 103
."!! 2'
111
fiOJ
03
22'
CO' 5
123
3.-
02!
874
70
2'S
470
1314
Hl'l
tiy
2S!i
ffl)
100! i
53
111
01
01
22'.
r.7'i
12',
:.Vj
03' j
N. Y. CURB STOCKS
SHOWED ACTIVITY
Oils Higher; Heavy Demnncl for
Cuba Cane Sugar Mining
Shares Less Active
NBW VOIttf. Mnrch 6, After a gener
ally strong opening, with trading rather
active In spots, the ninrket for outside
securities lapsed Into dullness with small
fractional recessions on what little offer
ings appeared. , ,
Tobacco Products ivns again one of the
principal features, although less nctlve.
nnd after moving up a point eased oft
fiactlonally. There ivns a heavy demnnd
for rubn Cane Sugar, which roso more
than 2 points, subsequently going off
slightly on realizing. Mldvnlo Steel wnB
nlso higher nnd In fnlr demand.
Muhmnrlno Boat, on comparatively
small purchases, ndvnnccd more than a
imlnt. Motor shares were slightly nioro
active, with a good demnnd for Universal
nt on Improvement of -"Si. Chevrolet rose
1 'J nnd Peerless a point.
(Ill stocks were gonernlly higher and
slightly more nctlve. Cosden Oil was Up
1W. Mining shares, while Arm, were less
active. Uonds were dull, but generally
steady.
r.vDUSTntAt.s.
"Sales in Philadelphia
Net
120 Am Ons j.y'iiii,
ISO Anncondn Mln. HJl'S
2S Paid Ii prcf..l08
OO Cruel Stel.. . gt
CO Com Ste.l.... Bl
10 Col Fuel . 4J
100 Cnl Petrol ... 20 U
1 Cntawli 1st pr Rl
280 lllee Stor M4
2t Inn Co N Am 2.11
477 Lie Sup Corp It
08 Irftiluli N'nv... 711
Sinn Leh Vnl Trnnn 2111
High. Low.
121
811
Ins,,
"'..
211 M
r.i
2.1 JS
lnVi
711
21
43,
Close. ""hKe.
12t
8(lH
108 1
81
42 H "
21
?Svi i It
43.
30 Nov Conn ... 14 i "ft v-J
1110 I' It T tr otfn ItiU 11 1" t J
RO Phllit Trnct.. JliH Tli'i : '
20 Hep t & 8 ... M ntn 61 . ...u
n.-.l Hcndlnrr, H2k HI W 82'i
n
43
1(H) Ton MIntnff
100 Union Trnc
j t IT rl f
Anl!t 1? U CIbaI MA
fou Wn'rWk I ft H 1'4
'K
S!)!t
4't
ii il
43 S, 43' J
811 U 8l!i
814 83.. 1
inn 1"
MARGINS DEMANDED ON STOCKS
LARGER THAN IN FORMER YEAR
-' - i J
About Twice as Much Asked as in Boom Days-$40fi
Jiici ior jjocai j2iAciiunfcc mcctu. inm uub uuered
at $5000 and Another at $5500
73
17'
41'(
M)'i
132' j
Cntrlblo St"el...
t'ruelble Steel pf . .
Cuban-Am Sugar. .. .
t'uhan-Ain Sugar pf.
Detroit Kdhon
Detroit fnlted Itys.
Diamond Match
Distill Sec Corpn....
Dome Mines
Krle
Kile 1st pf
Krle 2d pf
den Chemlral
fiener.il Electric
(leneral Motors
Coodrlrli UK
Cioodrloli II V pf .
Granby l'onol
(rrene-Cannnea.
70!.
18
13
1
133!
2.1
OS
t2
1 to
120' 4 1201!
70! 70!
r.v
.lll'i
.102 201?.
11)1! 100
.131 131
S") S7
.llWi 10,3' !
. -lo'i AS
2I'S 21','
. 3.V, 30',
. M'l 52'j
41 -ISHi
II'
M)!
i:i2!n
22' v
07'
73'
1 V.lh
HIS
10.V4
130! i
K7
1113'
I.Vv
21!,
30
r.v,
Hiv
1
12!
,S1
133'
22'
OS
S2
II.".
201! i
II 111
131
K7
103'
17' i
241
30
VJ'i
1.1! j
2Si
.107
. 10(1
. 70',
11-1'li
. Ml
II
aiM'i 201'-j 20l!j
IRS
170
ll.V.
Ill'i
H.'J
(Ire at Northern pf 120' 121
Minneapolis and St. Louis R. R. Xote Extension Operative--'
At a meeting of the directors of tho Minneapolis and St. Louis Railroad
Company In New York the plan for extending the two-year notes for six
months, or from February 1 to August 1, pending the completion of the read
justment plan, was declared operative. Eighty per cent, of tho notes have
already been turned in, and It Is expected that the balance will be lodged with
the depository In the near future. There has already been deposited 70 ner
cent. of the preferred and about 65 per cent, of the common stock outstanding.
IWHBAT IN DEMAND
. .,- AND PRICES ROSE
New York Bond Sales
.Clearances Influence Buying.
Visible Supply Increased
Two Million Bushels in
Week
CHICAGO, March 0. On a good de-
' M4.i,l l,rtiit, .nmmllnn tintlqan whlpH
M pnrlv Absorbed nil offerlnirs In the nit.
Wheat developed strength today, following
weakness whjch did not last long. Early
shorts were good buyers. May, after de
clining to S1.12H. sold up to S1.16U and
closed at U.lGTi. against J 1.13 U at the
end Saturday, and July, after dropping
to. 1.09 4. advanced to Sl.lSVs and ended
at $l,12i, compared with $1.10H. Satur
day's last price.
The buying was Influenced by large
clearances from the seaboard, u good In
quiry for both No. 2 hard winter and No.
K ,1 Northern from exporters and bad ad
vices on winter wneac, wnicn cnecKeu ine
enthusiasm of the bears.
Qeorgo M, Lccount forwarded his first
crop report of the season from Fort
Worth. He said that wheat In Kansas
and North Oklahoma looked fine, but that
much of tho crop In Southern Oklahoma
nnd Fort Worth had been re-seeded to
oats.
Tho Ohio State report for March was
bullish, placing the condition of the plant
at 71. against 8S in January, and 97 a
year ago. The unfavorable news with
regard to winter wheat offset talk of a
bearish report by the Government at the
close of "Wednesday, with regard to re
serves, on farms In the United States,
There were reports of buying for the Del
Elan Relief Committee, but they lacked
confirmation.
The market at Liverpool was easy be
cause of tlberal arrivals, the United King
.dorn, receiving "3,001,000 bushels of total
shipments of 9,233,000 bushels from North
f America for the week.
Leading- future raneed i
Wheat - Onen. IIlKh. I.OW.
iv 1.1241 1.1AU l.lL'Utl.lB'
July 1.10,, J.13H I.UUH MS
nvn (nail HalUwpwLa.
May 74t Jfti;
July 7i 78H
Oa ta-
May 4SW 41'i
'July ..... 41H 43h
' Ijrd-
ttair 7 10. T5
Iftbai:-10'5
ic,May 11.8S
llonnt Alaska Cold rv (Is
L'lioii ilu r f p Us
lmioo Am Aur ns
Juiiii Am Cotton Oil .Is
101111 Am IIlil & 1, ,.
337IPIIO AiiBlo-Kr 1. .-.a...!
Ioimi Am Tel conv 4a ..
limn Ann Arbor 4s ...
l.luil Atchison Ben 4h . .
luiMi Atl u 1, 44a
IIHISO do 1st 4b
Kiioo Halt t- Olilo 4h ..
.inno tlo cv Ilia ...
llPiioo II io flwn 34h
.10110 Ueth steel rfil ,1s
iiimi lirook It T .-.a . . .
1000 llrooli Un llni, 1h, .-.m lint
joon Hurt sii'ii iikii,
llioo Cent Inth lat .'.a..luiT
DUUll Cent I'ai- 1st 4a . . . m
lNOdci Chill Copper 7 laiC
I Olid Chea & Ohio 4',i.. tii
llioo chl . Altun :m... . 44'.
14(100 Chl II & Q joint 4a. US'!
limn Chl 11 & o Ben 4 u"
lOOO Chl II A Q 111 34.1 Si'J
2(11)0(1 Cht M & St l cv r,.l()7
WiniMi Chl Jt & S p cv 4!a. ()l
uu.... Hiut-pv itin .19,
-u,ni i-on U(B
llluh. r.ov. Close.
nw.
. Il7'4
.104
. 114 '
. lllll't
. Ill'i
. H4 .
. !I2
. Ill '4
. tnl
. II Ha
.102
lli:l
.101
.11)1',
. UlJ
. n-
.1S1
. 711 i
. iin
. imi
. mi1,
.1II2H
7ll .
. ('.:!
. . 7.i ;
. . 1)2
. . niTi
..102'!
. . or,
:
74
10.1
ll)2i
1112
K7'4
1114
114
KM)'
114 '4
U4i
H2 '.,
112
!l'5
IIIIS
Ill's
102
ln:i
Kill
1IIDH
101 'i
Ul)
130(4
02
44'i
l(Nt
1)2 t
Ml.
107
1(11
1)4 '
77S
120.
lis'.
nu4
followa;
Sat'dav'i
Cloae, close.
1.13U
l.lolj
Da.. 121
w n iiu i .
r.iiii riiv.i,-r.... i. I ".
-'"V vuuwnaim itri ,i. . uuL,
jiiuh Uel & II conv -Is. . ..Hut! lmI
, Kt, ,. ,., o .-. " ."',.
4000 Krle cen 4a AJ 'i
2000 llrle ronv 4s ser A. . 71 U
-ril!i!i ,1,:f'V-C!!nV,.4!' "fr " TSH
........ ww i it. in i-i,w ua.. . .
anuo Uan l-:i-c ileh 5.
anou Havana Itwy .is...
8U0I) III Hteel il,., 4'As..
lOOO lowu Central 4a
7(100 ina Copper t-v (la. . .
14000 Intcrb .Met Hia..
2000 Interl. It T ret 5a.
" lnt Mer Mar 4Ha..
moon do ct
10OO Internl Paper'da! '. '.
lono Jnp new O a 44b.
IIOOO Jnpneae 4a ...?..
Boon IC C Kt H 4.
11000 Kan City Ho .Is?...
1000 1.1c 8h deb 4a 102S.
iiiuw i.K nn aeo 4a rj.il
2UOO Lorlllnrd na . ....
JJHKI I.oula & Nuah 4. .
11)0(1 Manhattan Sta 4a.
BOO" ilinn & St I. 47.
! i Kon. 'r ""-
... ,' .1' aeiuc ()
1001)
40IHI
niiiio
1000 .V V Cent (la . " "lit
nC,s:s ia7. sss
IV.
K4'5
714
"8
101
104
M)lj
1)1 '4
.17
INI
73 '4
v)H
IMIH
IIUS
111-.".
70!,
11:1
7.Hi
112
1)4 Ti
114 H
102 1,
ll.l
112 .
lid I.
ri
2-. lnc ""- '""4 ""'it
Nat Enam-4 Stp ,1i. 074 U7
2DOU .V Y City ,1a lu.lll
p.,
111).
IIHS
74)4 7S
74 H-. t78
43U
4t
44
42!.
Buly 11.05
(t ,Pqrk
j.w r .....w.,u
. flu t A1
i Bti tAaked.
10.8T
11.10
11.02
12.05
22. 4 S
22.30
10.70 M0.8T
1U. 02-til. 10
T4
74H
t43'4
41.
10.70
10.80
11. RO 11.62 11. SO
1J.82 '12.03 11.00
21. RO
21.62
22.40 21.57
32.SO 21.30
FOREIGN EXCHANGE
Hi' luna, jiurtn . ine loreisil
'otchanga market was Irregular, sterling
' showing an easier tone while some Con
tinental exchanges displayed strength and
Advanced. Quotations were: Demand ster
Jlrux. 4.T6U i cables, 4.76 13-16; 60 days,
t.Vli; 89 days, 4.70V',; franc checks, E.89;
cables, S.BS'.ii relchamarks, checks, 73;
cables. 3 7-16; lire, checks. 6.69 H; cables.
U,9; Swiss checks, 5.23J4; cables, 5.32W;
guilders, jchecks. ii 7-J6. cables, 43 9-16;
Vienna, checks. 13.20; Stockholm checks,
'JU8; pesetas, 19.03; rubles, checks, 31 H.
n. ftftr ntltlilav IhA fnrcla-n AXchanirA mlr.
- ket wu- quiet, without appreciable change
i ltt rta frtim the earlier quotations.
uttdersACtiieu V reneci too reports tnat
w was lVey to be a tenuorary ceuaa
ijn of the gold exports from this coun
jy if Holland.
fiATES FOK MONEY
'ir. Time.
7?k. !J92 suaiK
liM )tVI 3ftU
R,.-. ?. 513
iiw-i wn
rclil paper, tbrw to U sumtbi, j?hll
tHl prr cgo-
t,t HANK CI.BARINGS
' '' ae- rlcai-utss uxlay cumBUKKf with csrre-
malln su lut IWU uri!
- - . Mile tu,.
ll
wfl
21)0.1 .V V C y 41,'. I 3 .i
1400.) N Y N II i II ii" 11411 1V41I
JIM10 N Y Itwy ref4a - "t8 77"4
iii-!ui Morf. v"Mt ' 113 iw ;
'!':!!!! ;Vor ie Prior 4a... I.3K nstt
lMKtll nor I'ne 1r.11 tt .in.'
'.IP t-ett t
iiuuii i-enna 4a mis on
Vis :.suJLyA.8A.ips
,""' uu oerv n J
.ut'vti jteaninv Ben
a H A.10211
4a 111'.:
,;uou l(ep lr Ct H Sa i!iI
Ikooo nio Or & w la . 73 (J
1200.1 Ht I, H !' en Ha 111
SlKHi Hraboard A 1. adl da 03
"" rtouin iiell n l.l.l'i
OoflO Uouth Iac 4b ! 811
10OIKI
3000 South I'ae cv la
ami do cv ret f D Sa
H7 4.
.104
ItAlZ
ll'i"-'.
US
10:
1)0
1)3
7.1U
Ho
il.1i
looi
Ml
2U.HI south I'ao rfd 4a... 110 U
noon south nwy gn 4a 72"?
union Kmnh n .; n. t.'ji.l
liooo Ter Aasn St U rf 4:
."?
10.1
UKl'i
HI2N1
II-'-J
1114
!'4'4
lOD'i
114 '4
1(4
P2H
112
;n'-j
UilH
111 V,
1112
1113
UK!
10!) H
101J,
III),
131H
1)2
44n
l)S4
1)2 ?4
N.1U
107
1111
114 'a
i-3IH
IIN'i
ion4.
71&S
K44
71 1,
7H
101
104 'i
b'.)!j
DlVi
37
1M
73 U
till.
Ullta
UIIV,
102 M,
ill'i
113
7.1 4
02
01',
1)4 h
102 'I
11.1
112 ;
74
1.7 W
I'u'i
sss
"'-!
101 K
U4'i
IT1
lilt
113 H
1.3
I1I1H
102 J
OOH
l)
IIUH
73!,
11(1
.1.1
10OU
B.I
(It Nor rfs for ore pf
(lURsenhclm htpln .
Illinois Central
lnt Agricultural pf. .
lnt Harv X J
lnt Harv N J pf. ...
lnt Con Corpn pf. .
I nsp Con Cop . . . .
lnt M M cor ilp...
lnt M M pf of dp.
lnt Nickel v I rfs...
lnt I'aix'r
Kan City Southern.
Kcnncrott Copiwr. .,
Klncs Co K I. & 1'.
l.ark Ktrel Co ....
I.lKCCtt & Mer pf.
!.(-. HuhlHT & Tire. .
l.chlBh Valley
I.oow-Vlles 111'
Mackay Cos pf
Manhat K1"V gtd...
MoxhcII Motors
.Maxwell Motors lt pf S.'l'4'
Maxwell Motors lid pf -w
Meslran Petroleum.
'Mcx Pctroloiim pf. .
Minn & St Louis ..
Mo Kan & Texas..
Mhml Copper
Missouri Pacific ...
Mo Pacific tr rfs...
Montana Pouer
National Ill-ccuit
IL'i
l!lj
l(ll4
OH
iVi
21
102
Ol'i
If,!)'," Ill
114 li-1
-a.','
13
1.1
01!' i
a:m
1!.V..
Vl
Vi
5s
107i
r.7
4.Vi
104
L'3,
tto'.i
12.(i'2 ll'S
,r'i
VJ2
fltl's
.. 77i
. . lft
. as
Kill
flf) ,
122
CD
77s
Ifi'j
C7
ISO
(U.'i
S3
lO.'J
JS 101
as',-
!;
1'4
121 1
Nat Enam .t S Co.... 2-1 ' 4
l'4
m
lb
!l'i
ir,;
170
7()4
11.3
!)1
WW
l'J'l'i
IIU
21
riUj
02
111
111
7.'1','
1.3
I.3I,'
o:i'i
4-i;
1U'4
25
r,m
120
70
122
l!)'j
77li
ir,!
07
1:10
mi
Kl'S
10
mi
'.).)
.3
:io',
v,
71
121)4
I Nat I-ead Co
Nev Con Cop
New York Air II..
N V N II & II...
N V C & II It....
Norfolk & Western
Norfolk & West pf
Northern Pacific. ..
Ont Sliver Mln ...
Pacific Mall
Penn Hallroad
Philadelphia Co
Pressed S Car Co
Pub S Corpn N J
Quicksilver
Quicksilver pf
Hay Con Copper
Hy Steel Sp Co
Ily Steel Sp Co pf. . . .
Reading
Republic Iron & S
St Lou! SSF
St Louis & S F 1st pf.
Seatioard Air Line
tcitK i
72 Vt
102
XT
102
?
a 87 !i
13000 Tolllo ,1 78i? 78 B 78
300 U H Oov 4a r liSC llflij Iln"!
45000 U 8 Hteel lia a 1.104 101 tS lllSa
isooo Union Pac )at 4i. 1.78 oyS ujfj
OO'i
. 10) i
MO
'. 07
.101
11.3
s-ns
.112'
.30M
10U
.30' s
117
fi
O't
24-S
:!sh
00' 1
SI!,
51
1
7'S
10
00)4
10',
10s
170
7 P..
11.3 J.
Ill 't'
tlh
121
T.'i
21)4
1IH4
r:t
111
111
-T.-l'l
1.31.
lO'j
r;o
1.3' i
in) j
2.3
.3.3',
12S
70s4
122
.30
77si
10" j
07
ISO
02
S.3
10?f
101
100
5
Vi
:i,3'4
l'l
I' I
71W
121'j
2.3
07) a
KVi
1-124
07?4'
10-1'
112'.
7
274
.37
II
.3:i
llli'4
Sears Roo & Co. . . 175
SG.
. ,31.
170
. OflV
. 20'i
&3!a
i:i7
110
ti-i al
1000 Vi. Car Chm tat S list. ukK
BOOO Wab-P T lat ct 4a." 18 14J
2000 Weat Fllect cv Da
zihiu weat Md lat 4a.
1000 Weat Union 4 Ha
127
o5'.
127
72
U34
72
1)34
.n7S,',i! I., M.S43.00O. compared vllh ..
301,000 last Monday,
GRANGE HEADS EXCHANGE
William V, Grange was re-elected presi
dent of the Philadelphia Stock Exchange
at the annual election held today. Horace
H. Lee was re-elected to the secretary
treasurorshlp; fjeorge W. Palme?, chair
man, and Joseph II, Straub, vice chair
man. The Governing Committee electgd was
William I. Baker, David A. Freed, Pennoll
C- Kirkbrlde. Walter b Klemm, Wlllam
P. Kurtz. Frank Ij. Newhurger and Har
rison O. Sealer.
London Metal Change Reopens
I.ONDON. March 6, The London Metal
Exchange reopened today tor business In
all Bietala. Satisfactory arrangements
have been made with the Ministry pf
Munitions regarding- conduct of business.
BAIl SILVER
flBlroi,erHl'j ltM Jay u jiwted at
GuiitttreUI bar Uver In Now Turk vu
Lnetc4 at OiiSic- "-it tte.
Shat Ariz Cop. .
Sloss-Shef S & 1
South Porto It Stic. ,
Southern Pacific. . .
Southern lly
Standard MIIIIiil' pf
Stu.lebaker Co
Stu.lebaker Co ttf . . .
Tenn Copper. . . .' 545 ,'
Texas Co 200
Texas Pacific 7
Third Avenue 00)4'
Tobacco Prod pf 105
Union Hag it Paper. . . 7j
United CUjar Stores... O'j
united 1 lear pi .
Union Pacific. . . . .
Union Pacific pf..".
U Slnd Alcohol....
U S C I P L K
UnltedKrult
US Realty & Imp..
Un Rys Iny Co pf . .
U S Rubber
U S Rubber 1st pf.
U S Steel Corpn. . . .
U S Steel Corpn pf.
Utah Securities
Utah. Copper
Va-Caro Chera
Va Iron Coal & O. ..
Wabash
Wabash pf A
Wabash pf 11
Wells Fargo Exp
West E & M
West Union Tel....
Wheel L E 2d pf.
Willys Overland
Willys O pf s r f p. .
Wisconsin Central 35 J
WooiMoria tr w no-
07!
10)
112.' 3 140
fl7'i 07
101?,' itm
115) a 11.34 115j
KlJi Kl'i Sl'i
H2'i
7'f
20
fl'iJV
II
r,o'4'
HO'i
D j
mi
21)i
nous
81!,'
5lj
llf
0!,
10
170
no's
5-1),
i7l
oo);
20
801-i
l.'IT'i
11.1
.-I'."
112',
7',
2S'j
57's
11
Mlj
llfiJi
O'j
21?,
10
!)S
82J
52s i
W
m
10
170
.'17'
178
07
20'j"
80),
Ml
ll.-l
57
201
O'j
21J,
10
OS
82',
52!
4'4
0'4
10
170
37' .
51',
177
1)7
20'f
80!j
MO'i
ll.'t
301 1
200',' 201
Olid!)
71s
00!,'
100
7'i
14
01
10s
7li
O's
ir.
0', oh
IHi IHi 11',
i3ii Vfiu i;in. yj-i
82 82)4 82' 8i')$
WW, 15.3H MOU 15IJ
174 10), 10 16?
142H 145 143 M4s,
-11 -u
. 28 28'f
4'J'i 50
1073,
S-'Ui
IIOU'
17
85H
441 i
51
13),'
4'2H
2QU
J 25
04
00
ii
224 215
103 103 103
35 35 35
120)$ 120JJ 1201,
107
.. Slij
HOH
17h
.- 81H
.. 44
.. 50
13!'
.. 43
.. 20
..125
.- 02','
.. 88li
.. Hi
. I
.lai
45 45
27i 275.
4Ui 40?,
W7H 107J,
8li 82)
U0)i HOU
17K 17).
Sl)j 841,'
43H 41,'i
51 51
13)j 13) i
42H 42?i
20 20
125 J25
03 04
00 (X)
l!i 4),
Total alta, 483.5C0 kl.area, compared with
804,000 aUarea laat Monday, """
Favors Hock Island Assessment
CHICAGO, March tL At the hearing of
Receiver Dickinson's petition before Fed
eral District Judge Oeorge M. Carpenter,
aukliin instructions regarding the pay
ment of certain bonds of tho Chicago
Pock Island and Pacific Railway, which
was resumed today, Attorney Rosenthal,
representing stockholders, argued that
the only way to preserve all Interests was
an assessment. He said that this must
come sooner or later and that foreclosure
would be disastrous to all concerned. At
the hearing Saturday, U c. KiWhoff.
attorney for the Contract Trust Company
of New York, demanded Immediate fore-Closure-
Money in London
LONDON. March f, Money. 4 to ,u
Olwunf rittes, Bhort bills, IHi three
months' bills, OH-
Aetna Rxnlleji
Amcr-llrlllah Mfir
Atlnn (lulf & W I H H
do pref
A mer Miirrnnl
AJnx ltulibtT Inc w I
C'nnnrtlnn Car A Foundry ....
.In pref
Chevrolet Mninr t'.ir
Cuban Cnne Puftar
C.lrllitH Aeroplane
nrlKBH-Honliury
I'merann
Ilnxltell ft llnrker lor
Itentlee llnnurnrtiirlnc
lnlernntlntml Mercnntllo Marine
,l nref
Kelly HwrltiBlletd
Knthndlnn Unitize pref
Mauhntl.111 Transit
Mn'.lti! Munlllou
Ml'lvnln Htoel
otls Mlevntor
otto i;isinlnhr v I
rid nref ,
IVt.rlejtfl Motor
Pnnle 1:117 A Mnch
Ht. .InHeph I-ad
M S Krepff" w I .
.Standard Motors
Sulnn.irliie Hunt Hf rtfa
'I'rliinle Kllm v t ctfs
1'iiIIimI I'rolll Hhurlnu
U M l.lBht ft llent.....
f S I.litlit & llent pref
M'hlle Mntora w I
Wnrld 1-ilm
STANDAftW Oil
Hid.
. 2.1'i
. 20
. 28
"!.
. 3 4
. nH'd
, 11.1
. M
.110
. 51
. 47
,137,,
. im
. 41
; ists
. II.)
. D7'4
:a?j.
. n:i
. (13
. m
. 8
. 3d
Asked.
23 '4
2S
Is
3 "4
nn4
ss
14'-'..
r,4'i
r.:i
12'i
ui'4
no
intt
70
iml4
21 '5
n:i!i
nr.
nn
1111
Total nles,. WRl Mmies, rompnre.l
20,123 shares last .Monday.
1IO.VDS.
nlth
Net
lllnh. Low. Close, rhanre
llnon Am 0 A Kl f.s nS !!? i !? 'A f
.1000 111 ft 1' Tr -la XI tt i V i"
20110 l.k Hup Inr 4s .1.1 .1.1 M
iniinii I, N es 4'.4s.lo.1 101 jnjl
1CI00 I, V Ken 4M. 10.1 H'-l li
liitm I, V Tr ref r.a M li:i ,M
27000 Pa cen 4V6S..102., Ill-' J02
.-,0110 ilu ens I'.ss. 10.17, in..,, ip-;,
niliin I'll Co ens ns 114, ll.l 4 , I ,
2200 Phi a Ulee 5s. (I i HI.1L4 1 P?!4
nuiiip iteoo-jr. .; -.n
nnno Kinnd tins lis
r.,,,t ,,.. t,..m . .. ..
1100(1 Un Ity lnv ,"s 72'a 72'a t24
f Increase. Derrense.
U
4- 4
:i
is ti.3 ji nr.J, jir.S . . ;
ns no '1 in'! mi4 tt
i. -. tr. 7r.
Totnl snles, 577,100,
hint .Monili.y.
nmpnrrd with $00,000
I Local Bid and Asked
Pralrlo
Illinois
Ohio Oil
S O of Ci.lirnnila ..
S O of New .Ir rsey .
S O Of New York . .
OTIIEIt
Il.-irnelt Oil
Cosden Oil
Chalmers oil
Houston oil ,
Midwest ltetlnlnB ...
Uapuliio
:iji
.1)4
4
IS
BUrtSIDIAItlBS.
j... 221
...IH2
227
','.'.'. !!!!.'iiil0
20S
STOCKS.
::::::::: m
n
1H
nn
1V4
l.i J4
1.1 a
is
W
.1J
n
,s..
l'i
224
1H.1
2no
2,in
r.on
21c
12'S
-;iW
x
i
00
14
MINtNO STOCKS.
Atlanta IJJi
(Vrro tit I'.tsro Mr,
llutto I! ft V. v t rtfH J4
lluttn ft X Y 2H
First Niitlonnl i.'o.pr fl"
Coidneld Mercer IB
llerlii Jllnlns 4'.
Howe Wound ri Tn
.11(0 lllltler Ill
Jumhn Mxtensliin hh
Ml.sma Copper Id
.MeKlnle.v-Darn.Kli 41
-Mines of America 2J,
NIplsshiB Mines i li
Hn n Tnv 1 " 1
AW3t Kn.l Consolltlaled ...71 77
West Fnd Uxtcnalon I 2
UONDS.
Krln rlnhlii ', "14
llaltllll.ire S. Dili" ns till 101 ',4
Cerro tie Pasco lis 117 120
Mldvnlo .' till IHI ',1
IK'i
as 1,4
7?4
.1
,7
11.1
too
17!i
47
2,i
Financial Briefs
Tho International ITnrvester Corpora
tion linn passed tho dividend on the com
mon stock.
Tho Vjiited Stntcs Worsted Company
report for tho fiscal yea.- ended December
31, ahoivH prontH after charRlng Interest
on tioatlnfr debt $650,000, leaving balance
to profit and loss 5417,02 1.
Advance flBUres compiled by tho Inter
state Commerco Commission from reports
of 12." railroads in the. L'nltcd States for
January, show an Increase In mllenuo of
1135. Operatlnff revenues were $194.
"80.SCI. against $150,002,741 In 1015. Net
revenues Increased $10,055,283 over the
same period last year.
Charles t Bllnn, Jr.. and fleorire P.
fientea, elected vlco president and cashier,
respectively, of the Philadelphia Xatlonal
Dank, assumed their duties today.
N'ow York banks lost to tho Subtreasury
on Saturday. $840,000, and since Friday
lost $2,052,000.
The Wnltham Watch Company is now
handling the biggest business In Its his
tory. The annual meeting of the Aetna Kx
ploslvcs Company will ho held March 21.
It Is reported that tho Canadian Car
nnd Foundry Company has contracts on
hand aggregating $10,000,000. This is ex
clusive of munitions work.
The Anglo-South American Rank has
withdrawn $050,000 gold coin from the
New York Subtreasury and will ship It
to. South America. Oold coin to the nmount
of $110,000 has also been withdrawn by
Multland, Coppcll & Co., hut It Is said
that the gold will not leave .Yew York.
,Xet income of the Chevrolet Motor Com
pany for the four months ended Decem
ber 31 was $1,053,680, which Js equivalent
to 8.36 per cent, on the $10,752,300 out
standing stock, or nt tho annual rate of
22.20 per cent.
January gross earnings of the Northern
States I'owcr Increased $00,722 over 1015.
Twelve months' gross was $5,216,719, com
pared with $4,551,324 the provlous year.
Surplus after charges Increased $353,125.
The Pennsylvania Textile Company re
ports sales for 1915 were $1,403,262, as
compared with $1,072,850 In lifH. Di
rectors have declared a lli per cent, divi
dend to preferred stockholders In preferred
stock heretofore held In the treasury.
Tho Xatlonal Bank of Cuba has shipped
$1,500,000 gold In the new Cuban coinage
to Havana.
LOCAL MINING STOCKS
TONOl'All STOCKS.
nid,
Jim Duller 01
MiicN'amura oil
Midway 14
Mlipah Extenalon IK
Montana 24
North Star in
Tonopah Ilolmont , , , , 41,
Tonopah Extension , 4
Tonopah Mtnlnr UH
Resruu Eulu ,23
Weat End ,73
CIOI.DFIKI.ri STOCKS.
Atlanta ,, ,17
lllua Hull 03
Iloolh , 32
Ilulldoe v , 01
C O I) 03
Combination Fraction 0U
Dtamondheld 11 11 02
Dalay , ,0.1
Florence 40
Goldfleld Coiwolldated ftll -
Goldhald Merger 14
Jumbo Extenalon , OS
Kewanaa , .1.1
Oro .. . 04'
.Sandstorm Kendall oil
SIHer Pick 03
MISCEI.INEOUS,
Fairy Altec ,01
Klmberly ...,,...,,..,.... ,Ot
Nevada Hill ,.,., 17
Arizona United ...,..'...,.. .45
Nevada Wonder ., ,. 1.75
Asked.
" .83
.ON
.1(1
.20
.2S
.1U
si
.24
73
.18
. .04
.S3
.03
.04
.OH
.03
.00
.45
.110
.10
1.02
:oTi
.07
.00
.03
.03
.20
.30
1.60
Interstate Itailways' Annual Report
The annual report of the. Interstate
Railways Company for- the year ended
January 31 shows Income of 5f 1,112, as
compared with $569,923 In 1915. Pre
ferred dividends to the amount of $60,000
were paid and the surplus for the year.
169.115.
njrectow were re-elected at th jtnrnwl
meeting.
Today's Mnturdny's
Hid. Asked. Hid, Asked.
Ihil.hvln liilji loi'i nil '4 102
iiurr ft sus t c -io 4J 40 i-
,1 pref Ml 4 no !) ""
lirlil j 11 ......... h a an a
"am Hteel.....:::: M Nl'.i HI,. Jjl'-i
Illee rttnrnirn .'l 4 2"4 II
lien Asphalt .11 2'' 3',. ;
do pref 1,, j2 i(i4 ,1
Key Tel 1 l'4 It 13! '
(fo 1 '. ::.::::.:.: vl i i?'. i
do pref no "0 n". '"
I.nlo 'hup Corp . . 11 U'i 1'J '.
I.eh Nnv 7(1 77 '4 7t
I.eh Valley 77'4 7H j (4 ;h
Leh Val Tr 21 21 '4 21 21 ',4
do pref I2'4 JS 1254 IHU
Pennsylvania r,7,, .17 4 f,(ljf r.7
IMilla Klcctrlc 27 'J 27 4 27, 2i M
I'lilla Co 41 41 ti I), 41
I'hlla Co r. per cent pr .'1.1U ill .Ill'i IJIIN
Plilln Co il per cent pr 4 44', 44 444
I'hlla It T in 4 1 if in J J4
I'hlla It T t e IDH 1HS 1J '" 1J'!
Headlnir S2,'i 82 Ml , M-
Tnnnpnli Del I 41- ;':'
Tonop.ih .Mln (l'l il" ,' M. n'a
Cnlon Trnctlon -lajs 11 J4 43fi
11 O I (Mi Wi'4 Ml!, f14
1' H Hteel S2', M., H14 l4
York Itwy Ill'i ini ln'S 11,,
do pM :ni'4 3? 3j ZV.i
Wm Cramp t c 71 Ml 1 1"
COTTON MARKET STRAIU';
EARLY PRICES ADVANCED
Hedge Selling Small, With Liverpool
More Active
XKW YOniC. Jlnrch 6. Trading was
compnrntlvely quiet on the cotton cx
chnngo this morning. Hedge selling con
tinued small and there was no pressure
from any source, although spot houses
and Wall Street Interests supplied lim
ited amounts. Covering from scattered
sources was sufficient to hold the market
steady, and Initial prices showed advances
of 2 to 5 points. Liverpool was a buyer
of tho lato months. After the call fur
ther advances of 1 to 2 points were
scored.
Liverpool was 3 to 4 points lower than
due. showing advances of 3 to 4 points
at tho time of tho start here. Tho
market wits slightly more active than
recently, with tho tone steady.
The market was very qulot later In the
morning. The appearance of scnttered
Southern selling here on tho early nd
vance seemed to check tno local buying
movement and prices sagged off to within
Ii or 4 points of Saturday's closing fig
ures, with the trndc then appearing In
clined to wait more definite accounts of
tho ocean freight situation or for soino
sign as to whether tho Southern selling
hero had reflected any material change
In tho nttltude of spot holdors. There wus
evidently little conlldenco In nny per
manent improvement in tho ocean freight
situation.
Sat. close. Open. IIlKh. Low Close.
March 11.50 11.(11 11.48 It. (II
.Mil-.- 11.li:i 11.(12 11.711 11.02 11.711
julv 11. ss 11. (to 11. mi 11. S4 1 1.11s
October 11. OS 12.02 12.14 12.01 12. IS
December ..12.11 12.20 12.31 12.17 12.31
January ....12.21 12.2.1 12.3.1 12.21 12.311
Spot 1 1.0.1 ; 11.7.1
Liverpool Cotton
IiIVBRPOOU March C Spot cotton to
day was In moderate demnnd, at n de
cllno of 1 point on tho basis of 7.82d. for
mid-upland, Tho sales aggregated 7000
bales. Including 0000 bales American. Tho
Imports were 15,000 bales, all American.
Tho market for futures closed barely
steady and net unchanged to 3'3 points
lower.
WESTERN MONEY FIRMER
CHICAflO, March 0. Tlio beginning of
Mnrch finds tho Western money market
steady as to rates, with a possible Inkling
toward some firming up due to apprehen
sion ns a result of International develop
ments. However, Biich a situation is rec
ognized as not having much of a bearing
on the market, as It Is believed In financial
circles that rates, will continue easy au
long as tho European war lasts.
WestPennPowerCo.
First Mortgage 5 Bonds
Due March 1016
KrpUtrtinent value of property rati
mated to be largely In exceia of bond
lasue.
Net earnings about 2 time, bond
Interest,
I'HICi: TO VIKUJ A110UT
5.23
Free of Penna, State Tax
iiRscitiiTiVK rmour.Au ON
hi:que.st
Harper & Turner
Investment Bankers
(Hike. I 1000-1012
STOCK KXCIIANOK HUILDINO
Philadelphia
X
Reduce Your Cost
of Gasolene
The price of gasolene U going up.
Every owner of a car ahould own Oil
and Qaa atock. Tbua bla own com
sumption producea dividends for him.
BARNETT OIL & GAS CO,
Cuultal (3,800.000. Par Value 11.00.
No Honda.
No Outatandlns Indebledne,,.
Offer uouaual opportunities oa ac
count of present earnlnga.
Traded In oa New York Curb.
IVrffe tor Special Circular Wo. .
E. H. CLARKE
Inieatmcnt Securities.
2? WIUUiu St-.
New Vatic Clts
DIBEOrOUY OV ACCOUNTANT8
CertlAea Public AtcouotauU
U4.-WXU3NCU B. BBOWN CO.'
Margins that arc being exacted of cus
tomers by stock brokers at the present
tlmo are the largest In years; in fact, they
nro far above those ruling In tho boom
days of 1900, 1905, 1906 and In 1912.
During thoso period?, when stocks were
selling far above what they, nre now. the
margins were about half.
The fact that largo margins arc being
asked has been very helpful to tho market,
however, nnd has been n very sustaining
factor. Tho higher margins have followed
tho action of. the hanks In not lending
na much inoliev on stocks ns they would
ordinarily do. nnd, therefore, the broker
has had to inlso tho margin to his cus
tomers. It Is recalled that during tho boom days
of years gono by, when the margins were
smaller, many stop-loss orders were un
covered when tho market stnrted to go
down nnd this hnd tho tendency of send
ing It off mill further. Whereas now, when
margins nro twice as large, the stop-loss
orders, of course, ore not an (illicitly
reached.
In normnl limes stock tike Union Tactile,
Southern l'ncltlc, Lehigh Valley, Consolf
ldatcd Oas, Heading, Canadian Pacific
and a few others nro carried on n 10-polnt
margin. Now, however, tho usual amount
asked by brokers on Union Pacific, for
instance, Is 25 points. Heading '20, Cana
dian l'ncltlc nhout 30 nnd Southern Pa
clllc 20. In stocks where tho lluctuatlons
have been wide more Is asked. On Studc-
LOCAL LOANS LARGER
Increased $5,398,000 in Week Sur
plus Smaller
The statement of condition of the mem
bers of the Philadelphia Clearing House
Association for tho week proceeding today
showed nn Incrcaso In loans of $5,398,
000, while surplus fell $1,998,000. Individ
ual deposits were $3,091,000. Details follow:
March fi. Into.
.J4S.-1, 120,(100
, as.. IHI. (Mio
. lo. i.iri.noii
.so,8.il.ono
LoRtli
Depoalls (lml. ) .
Circulation . . . .
l)im renin hunks
Deposits of banks. 1S.-.,SHS,00(I
l:x. elciirlng house. 2.1,17.",000
fteaorvca held l."W,S8!l,()IIO
Iteaenes required.. 77,7.1!,(ion
Hurniu, n7.nrio.iioo
Decrease, i
.Surplus under old form, March 0, lnl-l.
w.-ih Slli.S'il.niius Mnrch 10, 11113, S3, tlS.ouu;
.Mnrch 4. 1U12. J1 l "'., u()(l; March ti, mil.
S1i),144.iiiD.
Increase.
jr,,:in8,noi)
s.imi.noo
114,001)
1.N77.00II
nan.noo
n.iiHT.onn
4,7111.00(1
2.14, nun
J.DUH.IiOO
NEW YORK COFFEE MARKET
N'KW YORK, March 6. Tho. coffee
market was less active this morning, but
tho undertone was steadier and first prices
were 2 to 5 points above Saturday's finals.
Sales on the call wero 3000 bags.
, Today's nlurday's
1 oponlnu. rinse.
Mnreh 7.7HW7.7.1
April 7.77fl7.M)
JIny 7.1)1) T.S.-,di)7.K7
June. 7.HOM7.1I1
July ".!!! 7.1)4 ei7.li."i
AURU.lt 7.HKMS.OII
September S.OlWS.ln K.irjHJK.n.1
October S.O.-,(il)S.(l7
N'ovembor H.ON('8.1()
December N.KI S.12MS.111
.Innunry '.1" 8.136f8.17
February 8.18W8.25
Hid.
Sales. 3000 baKS.
baker about 50 and Batdwln .10 .,. ' 9
20 points was usually enough. ' ithwtH
llko Uethtchem nnd General Motor. ?'3I
more is demanded, somo brokers rrJ?l
to carry tho former for less thll r.'.f.u,l,1tl
the latter 100 to 150. "
It was learned today that $4000 I. v.T
for a seat on tho Philadelphia Stock Kl
change, tho Inst previous salo havlnAlil
made nt $4100. There nre no seat. frrS
nt this price, but there Is "no offered ?i
$5000 and .mother at $5600 Durin &
last two venr. llm him, Y..Vur,n th
bought four seats which havobcen
celcd. The incmbershln nt m " ". l
now stands at 221. Bn&nj,
Iluslncss wob again small in the U..V
market today nnd this was duo motB$
ess to the annual election which Waik.ft
trading was dono was mostly In th JIE'J
Steel common being the most active. Row
nttentlon wns ntlrnrle.l , t i. ' ir '.i
about 500 shares of thnt Issue changS
hnnds. au-.-anclng Si to 11. A feature Hi
phla Klectrlc 5s at 1041,5, up l(l from t5!.
toil l,.nno .,! n i.,' ., ' n. tUtaB
... ,,.u..u..., .,,.,v. V.HU uiogK 01 124 (InalH
Pennsylvania general 4'4s sold at 202 n.M
changed. In the afternoon session tJnlJw
Traction rose . The-market was Inacthfti
to the close, only about C800 shares eh,nl
IOC? hnilllH llllrltlir 11m .in,. "'"S-Jl
B.A
vcq
m
XnpuBLic servig;
SECURITIES
"The dependence of win
nicipalitic8 on Public Service
Corporations is the strength
of their securities."
J W e recommend to conssrvatire in-fl
vestors an income and Pcnna. taxfre1
JDaby JLond
in denominations of
-$200 $500
ot the hnthutd
$100
"II llicsc bonds arc
grade, arc suitable for trust estates tnj
yield a return or
5vB per cent,
1 Net earnings and surplus show
steady increase, territory served by the
company shows approximately 60
increase in the past ten years.
I Complete investigation requested., v rl
Baken Ayhrvg Co.i
I n.-n.A Tlflz-k Tillrt DkiUnlnl.!. .!
L.CMVVJ llil UlUg.l llliuuciuiuq, ,L
LIVE STOCK QUOTATIONS
CHICAOO. March (I. IIOOS Itecelpls. 52,
0(). Market shade hlshcr. .Mixed anil
butchers. S. 8.1 ('!).-(): mod heavy, SK.noW0.t3:
riniah heavy. SK.TnOS.80: llsht. S8.TS(St).20:
Pica, J7.l0iK.ar,: bulk. J.M.liriWu.l.-,.
CATTI.l-: !tc-!r.t. ih.iioii. .Market 10c.
blither. Ileevea, Sl!..pi)l).'.n): cowa and heifers,
S3.7."ifr8. Ill: atnekers nnd feeders. $ri.(l.-i7.7ri;
ToxniiH. Sn.llOlftH.nil; rnlvea. $n?ll.
SIIBKI' Itecelpta, SIN.OOO. Market stendv.
Native and Weatern. St.400; lamba. 58
11.13.
NEW YORK BUTTER AND EGGS
NKV YOIIK. March II. IlUTTEIt. Market
RtrnnfT, with demand taking atock cloacly. Re.
celntH, 0012 packnpea. .:xtra creamery, .17t -.
hlKher scorlnir, AT & (f .INc. : Htnte dairy. 305
oit'ie. : Imitation creamery. 21$02!c.
I'OGB. Mnrket u-caKcned on early tradhu;.
but closed steady to nrm. Itecelpts, 13.044
caaea, Kxtr.i llrsta, 21",i W 23c. ; ilrsta. 21?if
22'c.; white cues. 2!IW3iic.: brown enifa, 24'i
f'j 23c. : mixed colors, 22((r23c.
DIVIDENDS DECLARED
International HarveHler Company of New
Jersey, reuular quarterly of l'i per cent, on
common, payable April 13 to Block of record
March '-'.".
(Jhtcneo, IlurllnBton nnd Qulney Ttallroad
Company, reuulnr quarterly of 2 per cent.,
payable March 23 to atock of record March 20.
Bnpulpa Ucllnlns Company, regular month
ly ot.l'i per cent, on common, payablo April
1 In stock of record March 31.
Manhattan Hntlwny Company, reaular quar
terly of 13 per cent., payablo April 1 to stock
of record Mnrch 13.
Central Coal and Coke Company, quarterly
l'i per cent., payable April 13 to stock of
record March 31.
Crude Oil Up 10 Cents
XEW YOIUC, March 6. North Texas
crude oil has been ndvanced 10 cents a
barrel to $1.10 by the Texas Company.
Pennsylvania crudo oil has been advanced
10 cents a barrel to $2.50. The Ohio Oil
Company has advanced tho price of Ply
mouth grade crude oil 10 cents a barrel to
$1.53.
TO YIELD 5.45
FREE OF TAXES
AVo own and offer, subject to
prior sale, a limited number of
5 First Mtge. Bonds
Exempt from Pa. State Tax
G? normal Federal Income Tax
Earnings about double interest
requirements
At price to yield 5.45.
1'ull pnrtlculnra upon request.
Reed A. Morgan & Co.
AVKST END TRUST HCII.MNO
PHILADELPHIA
Members ot tho I'hlla. Stock Eicblnj,
i
J Beech Creek Railroad m
m 1st 4 Bonds If
Due 1936 1 1
0 Price on Application f S
I Jill IVEAI. STAT TBV3T HUXUHNO.
Located
In The Heart
of the Financial District of Philadelphia at
315 CHESTNUT STREET, the First
National Bank has hcen doing business at the
same place for 52 years. On this site stood
the Franklin House, at that time one of the
finest hotels in this country. e have an
historic engraving of this hotel with a view of
Chestnut Street, a copy of which we shall he
pleased to present to anyone interested. Though
proud of its historical record, this hank takes
greater pride in that it is equipped and conducted
for the highest class service to its customers.
The First'
National Bank
of Philadelphia
fill
3J5 Chestnut St.
LOGAN TRUST COMPANY
OF PHILADELPHIA
1431 CHESTNUT STREET
CAPITAL. AUTHORIZED
1, 000,000
PAID IN, 3916,900
SURPLUS AND
UNDIVIDED PROFITS
$380,000
Managed by progressive ana experienced officers,
with, every facility for the benefit of clients.
We invite regular and Savings Fund accounts.
ROWLAND COMLV
Preida
. WILLIAM BRADWAY