EVENING T;EBftE-R-PHlUADELPHlA MONDAY, MARCH 27, 1916. . X4 FINANCIAL NEWS MARKET'S ACTION DEMONSTRATED STRENGTH OF SPECULATIVE POSTION Industrial Specialties Becoming Scant in Supply Going Out of Street in the Same Manner That Big Rails Have Disappeared New York Stock Sales High Points in Today's Financial News Philadelphia bank statement showed increase of $1,200,000 in loans iZ. i'ii wk: '"fyMMl deposits rose $1,1)05,000 and surplus fell SOS,. 808,000. Price of bar silver declined in New York and London. Flour exports of Canada increased nearly 300 per cent, in seven years. Under alodd that opposition to St. Louis and San Francisco reorganization plan will cease, stock will be deposited and assessment paid by those who have been objecting. Lust close. Hlfth. Low. Clos. Alaska OoM Mines.... 20H 20M 20 20JJ Alaska J OoM M OJ. OH M OH Allls-Chalmers Mfg.... 30 2SH( 285 211 Allls-Chalmers Mfe pf. 78 78 70JS 77 Am As Chemical pf. . . oil IK) 00 DO Am licet Simar 71 74 70 73 Am Can GlH 01H 00W 6U4 Am Can pf ui 112M 111 1124 Am Car & Fdy 09 00 07JS 0811 Am Car & IMy pf no liO 110 110 Am Coal Products lflojf lfiWf 169M 159't" Am Coal rnxl nf 117 linu I10M 11014 jm union un pi ioa Am Ktpress 128 Am Hide & Leather Am Hlda A I, pf. .. Am Ico Secutltlcs.. Am I.lnseed ! Am Unseed pf I Am Locomotive Am Locomotlro pf. Am Malt Corpn Am Smelt & Itef... Am Smelt Bf A Am Steel Foundries NEW YOIUC, Mnrcli 27. The action of tho stock market today Bavc furtlior ovldcnco of pronounced strength of tho speculative position resultliiR from tho liquidation which 1ms been In progress at frequent Intervals since the beginning of tho yonr. That the market has been thoroughly liquidated was shown by tho manner In which rallies occurred after commission house liquidation on a moderate scalo and renewed attacks by the room traders and uptown bear plungers. Support was called for, however, before the market turn, and a peculiar feature of the support was that buying, to a great extent, came through Ger man houses. I'rlco movements Included declines ranging from one to three points, with tho heaviest losses sustained in tho war-order stocks; but It ,vni quickly demonstrated that the Industrial specialties are now becoming scant In supply, and according to those having a full knowledge of secitrltv move ments In such stocks as Baldwin Locomotive, Crucible Steel, Studcbaker and Industrial Alcohol, they are going out of the Street In just the same wav that Union Paclflo and other rnllroad Issues have disappeared from the speculative field . dl1B'n UleS0 ,MUC" lms 1,ocomp w,lat 1,r,,kprs '1I "gambling In con tracts. Sellers on such declines as that on the late trading Saturday and this morning slmpty borrowed from tho buyers for delivery. The trading element on tho floor turned to tho bull side because of freely circulated statements of information that came to them that Washington will do nothing In connection with tho two disasters which caused the declines since lata on Saturday. If no new unscttlcmcnt of International relations 'results from theso disasters, then tho bear clement has lost all direct incentive for operations for short account. ",e Ior , , nUrrlCd c?Vcr,"ff movement started when the statements were circulated on tho floor, and buying for both long and short accounts was in evidence when the market closed. The sugar stocks were then strongest feat re, W h Amer lean Beet Sugar the most prominent feature on the floor In th late iradlng Mnv Ccnse Opposition to Frisco Reorcaniz.-i.lnn for sXSTz :-::! r;z ---- I !! ": ""." S" Hal.road, Imvo "dZT ZZ . io me pian oi reorganization nnd to deposit their stock under tlVnt - Plan and pay the assessment. The hearing ., ,.,' ....... ' I,.8 . Mm,or tllnt h lion managers for authority to fl,o a bill of force oH,, T '". " .. ..7": Sanborn In St. Louis tomorrow. It - ,...i.t ... . .' """'' ,!,",h j nihiiiiiiain i mi ,i r mount of Ktnnlf. impossible for them to reach St. 101 121 10!f f.,1'4 28! . 2I 17 74H 1031J 8)f lOMf 02,'i 62). 101 121 10K 62 27JC 22H 44! i 72? i S'f 101 121 10!f 3 27? 2 Mi 47 7-W HKUii S'f 1MJ . 62 . 28! . . 23i . -Uii 7o .104 . 8W .101 lOUf 0)!i t00 OH 02,'i !)2H l2' . A2!f A214 ffi2W B2! Am Sugar Kef 11I1H Ml 110 110!f Am sugar Her pf Ut,H sif 11..H UCM Am Tel A Tel i:))f 131 130) J 130M Am Tobacco pf new... MO1! lOf.lj 100! 100)$ Am Woolen fil), AH f.0!5 CAH Am Woolen pf 00 0Mt !)! 09'. Aln Wrltlnc V pf 1DJ; 2()j 10H 20W Am Zinc I, ft Sm . . . . 87j S7H XSH ifiH Anaconda Cop M S."iJi SO 80S 80 Atc.h Top ft S V 103U 1(B' ll 103H IlaM Loco Works livi in.T 102H tnMf liait A, Ohio 88 j S8! KH Hank of Commerce.... 170 170 170 Ilalnpllas Mlnlnif 2'j llethlehem Steel .10.5 llrooklyn Hap Tr S.". nrown ;noe pr n, D'J 29' i PRICES IRREGULAR IN OUTSIDE MARKET Fluctuations in Narrow Limits ; Trading Active in Spots. Cuba Cane Sugar Up Toakum and his attorney, who Is also a holder of n substantial a Tvere In New Yrk this afternoon. It will bo impossible for h" .L,ouis m time for tho hearing tomorrow. 40 20 40 il m an nn 38 n 42 .IK 12 (in Incite) WHEAT ADVANCED; TRADING SMALL Market Became Firm After Easier Opening Seaboard Clearances Heavy WEATIIKK CONDITIONS. NEW YORK. JInrcli 37. Ailtlrro r fftTcil Ht th Virntlirr Hitrruu thli nioni Ine Indicated the follow Ins rather con ditions: Tempfruture. Illh n... innaaian .ormwcl . . . .clrur JNorthwrat rleur Mldillo Yi'ext nrrrlo. fouthwrnt rlfiir lipper .iIllBlpiI Vnl..prrrln. Tfon-rr MNnUnlnpl Viil..prerlii. u...u r (-., iirri ii, Tha followlnc prrrhill itlon Wan IVnOrtril! .01 nr I'.ILIn- i.,,r4 rulrm .00 at Kuinntllli nnd l'ltNliumlii .10 at Cleveland nnd .St. I.ouU, ,1H at MmiIUoii! .38 at IndlanaiiolUi .nil at llatinllial: .til at Clnrlnnntl anil SprliiKllrltl. III.: .OH at 1'arkrn.burci .72 at (lilcau-oi 1.00 at Kanau Cltri 1.02 ut I'enrliit 1.18 ut Cu lumbua, and 1.31 at Dnvrnport. CHICAGO. March 27. Traders in wheat today evinced a disposition to await tho results of erowlne weather, which is f, expected to follow good rains over Sunday In the winter belt, and operations were not large. Following- an easier opening the market developed firmness. Tho general wetting received by the winter wheat country, weakness at Liverpool. IurKe world's shipments for the week and In- r creaslns' supplies ailout and abroad failed to depress prices. Some authorities believed that the win ter wheat crop would soon bo shown to be In poor condition on tho whole. B. W. Snow said that portions of Kansas and Nebraska had received needed moisture, but there were some sections In the West ern belt that needed more rain. He said that reports that the crop was sreenlnn up under the Influence of high temperatures were to be expected, but that a careful study of current advices had led to the conclusion that the prospects for winter wheat were poor. He cautioned against giving too much weight to statements of Improvement based upon the fact that fields bad begun to show green, and pointed out that there bad been much winter killing. Mall ad vices from western Canada indicate anxiety with regard to sowing there be- ,- cause of the lateness of the spring and the seriousness of the labor situation. Offerings here were limited, and there was an Improvement In the demand for cash article. Clearances from the sea board were heavy. May gave evidence of congestion. There was profit-taking at times on heavy receipts at Interior points and reports that elevators In the country were offering more freely. Final prices were at the top or only a little off from the best. Stay ended U below the high, at Il.OOTs. against 1.08H at the close Saturday ; July, U down I from the top at $1078. compared with (1.06 U at the end Saturday, and Septem ber at tha ton at S1.06U. contrasted with J1.04 , Saturday's last price. Initial quo tations, Jl.07 for May. ?I.05?i for July and Jl-Oti for September were the lowest. The visible supply in the United States decreased 2,618.000 bushels for the week to 68,557,000 bushels. I New York Bond Sales i-iiV- A.mi'r. c.ot "ii " 1.11 l.illO Anitlo-rr .-, Am ok imp Sb. Am Smlt Sec il. Am Tol .It 4s Amor Tel cvt 4's Amer Thn-nd 4a. . Armour Co 4ljs. ii-iii3uii Ken -is. llli ill -Dim L'llilo H7IIIMI lllilll MIOII SHiMlil ii him Alrhlmin wlj 4 I'HMI Atchison rv V. 7i no Argentine Ss " llli") Allan Co I.lne 1st liMHi Halt Oh o is. ,. Jinnii Halt & Oh cv Oik ll'liti II (OPT rmv v " "it Oh swn 3js High. Low. Clowe. n-.'N !? ps :i7-; n.. lti.'Mi llli', ins Ik Ill's III mi ; Ill.'l llll'i n2 j: !ll, ss'i .: ,"'M' 1II34 uii', IiS'V 114 4 III', Ill.'l mm 2a, in;. HI! Is UN's ! iir, ln:i, mi', niN lm J, in J, ii l4 in S7'i lna wo ft 1)2 , i nil. !H4 HI 1- I rim, cKii, .V'"- "H '' '"' !4 !l ".'mi C,iiW'rcv5"-:?";if! ''"' 1;N i hU'?s4V.:::,:!,i Wit Wl - "", . ninese rets ,1s 7,,U 7.-.U 7-.I-. L'iiii.i I'omnut Tali .Is K2 S.. v1. ' liiiiu Com I'rml .is iiiii JiS ,.: ..: .:"m! ,J'i!o'irf,,,.U,,,.COnV '",:!!!Si 'JHH. I J!!'. !!!!"! ior!!1'"- 6? mh ll.inil pis Seeur Corp' bV. ! ! V.'l'i 7-4 t'-''.V " ! hrl,' conV 4? wr !' 7H, 7S3 7S 'V l-,'0 nV '".t':r D w ' Slil ,t' l'l lllilll I-,rle I,i col 4s silt, mil sul: ., i . :i . Hutte & Stiiierlor liutterlek Co Cal Petroleum C'ai Petroleum pf C.in.iill.in Pacific.... Case J 1 Tr M pf. .. Central Leather Central Leather pf. . Chandler Motor Ches & Ohio Chile Copper Chlno Copper CIHeaco (it West pf. Chi Mil .1 St P .... Chi A Northwestern. Chi R I ,t Pae Col Fuel & Iron Continental Can.... Continental Ins Consolidated (las Corn Products Kef. . Corn Prod lief pf. .. Crurlbli Steel , Cuban-Am Sucar Delaware & Hudson. Detroit Kdlsoii rts. . . DWII Sec Corpn Krt- Krl" rights , Erie 1st pf Knl Mln & Sm pf.... (ieneral Ktectrlc (ieneral Motors pf. . . (loodrlch II !' (ioodrlrh II K pf , (iranby Consol Oreene-Cananea Clreat Northern pf C5 X i'd for ore prop Illinois Cent Int Agricultural Int Asrlrultiiral pf. .. S8!f 170 2H -too MM 1)7' i 0(1 !) Ei' ins So olU . C2 .107?i . SO . Til", .110'f 110! . o: t . (W)f . 21 . KM . :i7Ji 01 r,:i'4' mi MH A7H !U1 190 83! i 07) i 88 20 JUi M KiflX 108 83 S3 o.Vi MH 110!i 110)f OH 0.1 oa4 ( 88.U 170 2si 100 83M 07! SOU 2!) 22! ( il .127'. 127 17ji 17JS ir.M . 82J,' 38 .1',' . 20?.' . WH . so;; .218 .loO-i, 4)4 . I7?i' . ;i7?4' . H . .Wi . 31 .107 113 . 7;i .113 . 80 . -Ili'i .122 . 41 .10 Hi . um 5fiJ I3'4 82 3S KlIL'S 21 m 8S!J 220 131 t'4 17's a7!i 20U 32(1' .'I7!,' UVi vim 1 17'tl l.'iU 82 3S 1.10 SOU 03 SIJi 223 131 .' 104 213,' 5:i!5 :i7Ji 0H NKW YOTIK, March 27. While an Ir regular price movement was shown In the market for outside securities today, prlco fluctuations for the most part wcro within narrow limits, with trading rather nctlvo In spots. Cuba Cane Sugar was tbo principal feature and moved up sharply on heavy purchases about 2 M points on rcbuylng by Interests who wero Instrumental In causing tbo sharp break last week and who. It Is understood, were unablo to mako deliveries, whlrh resulted In forcing repur chases In the open market. The preferred, however, failed to follow. Aetna Kxploslve developed fair activity, and after a small advance cased off about &. Mldvale Steel was less nctlvo and moved within narrow limits. St. Joseph Lead, after a small advance, cased oft. Submarine Hoat was firmer. Tobacco Products, after some hesitation, moved up Hi. Oil stocks wcro quiet, with Interest cen tred In the low-priced Issues. Oklahoma Producing and Kenning made a small gain, while a fair Inquiry was shown for l'rnlrle Pipe Lino nnd Ohio Oil. The silver stocks were generally firm, copper Issues were higher In spots, Magma being the lender at an Improvement of r. Donds were dull and somewhat Irregular. INDUSTMAl.S inn. .saeu. Sales in Philadelphia 27 Am Oils .. 2S Am ltlwys. r An nref . inn Amer Smelt. 1 Net High. Low. Close, ehire. .120 120 120.. H . 3.1U 39 i 33M . np(i 1)9 9S)W ,.100 100 100 ii on Amer smelt. ..liiu., nm., J"" ! 00 Ilnlil I,oeo.,..1034 103H 103!4 1H (1.1 Hurt A Sun t C 42 42 42 ! Inn f-An Tr M .T. . 71 20.1 Klec Storniro. .11 :; lien Apnnii. . ;u 1, 71 nH4 OIK U 37.. 3T, At ..... 2.1.1 do rref .... 72 71H 72U M no Kenne Cop .. M.l fsjf r.sjt V) 1007 l.nke Map Corp 104i 10 lo.H 120 Novnrtii Cons. 17. lnff Hlfi Ji 42 North cent .. htji J!i ni: 273 Penna II II... r,7H r,0J ri.lt IS Pa Salt MfR..10tH lliljl lnlH IIS '4 42 44 27 tt in s7n7H P05 Tonoptih IJrl. I ln-lfl li Slll fT--V. ttlH t 14.1(1 II Ri J 11l JllllUl'ilil 4llll II Jl-tVU ".0 21 tlnlon T-ne .. 43H 43J4 Mil United (1 t.. 1)0. snt fil 30 C fl Steel SI'l H3 300 tltnh Copper., sn'.i SO' IIS Vet Jer & s. no no Steel rref HI', ID Phlla Co 42 27 do cum pref 44.. 202 Phlla Klec ... 27 4 270 P It T t c ... in 3 Phlla, Trae .. 77 4o.) Heading S7 Oftta 2k:i in ... . . 77 Jf. 87., 4s 4H ..... 43 - 8Sh-; SOU 1,, no ' BUSINESS ON SMALT, fOATn. ON PHILADELPHIA EXOHANGB'l Price Movements Were Irregular, With the Sajme Wait ing Attitude Shown Lake Superior Corpora tion Advanced a Fraction Totnl mile. 10,33 1 nlmre, compared with lil.non fluirri taut .Monilny. IIONDS. tllsh. I.otv .'I7.1S 17! i 4oH 82 3S 1.1054' 21 03 87.' i noq 151 l'i I7J4 1)7! i I leading future ranged as followa: v neat 3 Cay Julr tpt Open. l.un ion Hlah. I. Hi 1.07 1 (14 W Corn (nw dellvry -Hay, 72 U ent.. 13 luta .July.. 41H jJtiit . 3H Lara lUr. 11.6T July 11-80 'iuLUi" Stay 12.0T i July 12.37 .Fork ay .S3.J? lvi,.lr l.ou'.i ry 73 S 74 'i 74 8 40 11. 6T 11.80 Low. l.U74 l.OS'I 1.04 J 72 W 4T Sat'day'a Close, clone. ll.OXV, tl.liUS l.OITi 4! AQ74 11. BO 11-72 12.10 12.27 2S.02 2-90 BU. fakfi 1 2. OS j. 22.80 4. J LI. , 1.WII J 1.07 I.OUU t73; 71 H 74 H 4ai t42lj t40 11.32 11,73 tll.'JS 12.03 112.28 22.95 22.83 ,72 73 U 42 42 3! 11.32 11.77 ll.T tl2.07 12.25 22.00 22.77 BANK CLEARINGS Bank clearings today compared with cerre spoadliM, U last two yaara: IBIS il,U llil 129.SS3.163 tlS.U93.See I21.W3.418 Oa ... 24.1S3.27B lT.38a.U4U 16.U4U.7Sa us . . . fi.aoii.zea 4t).::i&.37? 4u.a3a.41a ,V Tor.. 282.401. 458 207.031. 308 222.001.37s fJIU.. 1W.7VT.BSV 1X.VM.440 19,30U,41V lllilll Krle nrlnr 4h. 2.MI.I Hud & .Moil rf.l 3s.. 734 lin.i.i Interh .Met 14s . 4a nI Ij7iiiiii jnterb It T ret 3s.. iiin? 'i !!! ''","' Iet Mar 4Hs !isJ 3HHHI do ct HSU 4.1.1.1 Internl I'nper (la ..I.i-JiJ aiMiu Int Stm I'ump et ,,s 73'J 21(1110 Jap new O S 4'4m .. 77'-5 lll.HI K C r't H & JI 4s. . 7.-, l.l.lll do lis .7. llil Ji'.iJ Knn City .Sn 1st 3s. inii limn lnn city So r.s !i2" ,!!!"' '.n City Tit 1st 4s ss. 411.10 I-x & K .',s llli "t l.Hltl l.arka Steel .Is 11123 till'; 4IIIHI l.iieku Steel .',s ltl.-.O II Hi 7IHIII I.k Sh del. 4s I!)2s.. ll.-,'i 7HIIII I.Ik JI T ns 1112a, 2IIIKI Iinir Islund rfil J. wi,3. ,i,iii,i , ...., ., ...,l 1. ' :. . - ........ ,,uuia o: .usn -IS lmiii .Manhattan stn Is 20.111 M St I H S SI 4s.. """I ..IO I-..III AC I ISt 48 .'.null .Mo Kun T 2il Is. 2(111.1 JIo r.ie rol 3s 11)17. Iioil.l .Mnnt l'ower 3s .1H.MI Niairaril F I'oiv 3s. 1 1 ."S 1 L" 1. w 3H.. 77 KIWI N V C & Hud 4s 112 4 2110(1 X V City Is 111.-,!).. Kill :i(lO(l N" v city 4 4s KMI.V.lll7i 210011 N V N II & H lis.. 113 20(10 .N V Itwy mlj ."is.. 01 i 1SI10.I .V Y T.I Ben 14s.. IIS'I 1(100 N Y W C A II 4 4s 7h', .Vinil Xnrf & XV Voch 4i. tin lllii.in Nor Par prior 4s... !)34 iwwi, wr nnori 1, rer is. Kllll) Ore k W It N 4s. 20.1.1 I'aelllc Tel 3s loo.i.l I'ennn Is IO111I 2011.1 l'enna 14s 1H21. .. lllilll) Public Serv N J 5s. 1,0011 Ileadlns Ken Is 10.111 Itep Ir & S ,1s 2.100 Illo Or tz XV clt Is. lnilil Hock Island 4s. .. 0.10.1 Itoek Island rfd 4s. iimiii iiorK isiana .is... ll'.lj, tl!l 117 ' !I7'I 07 '4 07 4 11:14 H3 73 i l',.l! 1)2 D.l'i 102 Ml'i lll.l'I 113 'I 102,, no1; UII'. I 73 Ml 1174 431 4.l(. 3IIIHI Hi I. I SI & S Ben 5s. 1024 -iMM, mi4K.-,r rm ci sin -is 11a 1000 Stand Gas (Is 1004 mini) South Hell .- nil IMiini) South Pac cv 4s 8S4 K11111 do cv ret t p 5s. . .l.)l4 KOOll .In rt Am (k(.tr U"t. G!l4 H24 mil; mi J, 1114 1.124 niJ '.u'i 1134 113 734 on1. 4 02 0114 102 77 1124 111.) 107 4 11 H. Ill ', tim; 7S4 no 1)3 'i 11.14 h.l; 1(1.14 1)34 11)2 11.14 Ii 1H U'.l 75 h.l 1174 434 101 .1.1 111.14 101 hS 1014 l)'J ,.,7m 7,1 ii 73 11.1 IIDH !I2 4 1m3; III) 4 1:14 p.. in: y Int Harv X .1 Int Hatv Corpn Int Con Cor v t e sh. Int Con Corpn pf-. . . Int Taper Int Paper pf Insp Con Cop Int Xicki'l v t cfs. ... Int M M c of tip Int M M pf t of dp. Jed Tea Jen el Ti'a pf Kan City Southern... Kan City South pf. .. Kelly Sjjrinc Tiro Kcnneeott Copper Keokuk & lies M pf. Lack Steel Co Lee Ituhber Tire Lehlch Valli-v Maxwell Motors Ma Motois 1st pf. .. Max Motors 2d pf. .. May Dept Stores Minn & St Louis...... Mexican Petroleum... Miami Copper Missouri Pariflc Montana Poer Xat Cloak & S pf. . Xat Knam & S Co. Nat Lead Co Xev Con Cop Xcw York Air Drake-. 142H N Y X 11 & II bf X Y C & II It 1(151 j X Y O & West 2S Xorth American 70f Xorthern Pacific Ill Ontario Silver Mln.... 9 ...111) . 75 17.4' 72V j . 12 . -I!)1!' . 17! i . IfiU - 17U I25 . 77 .111) 20),' (II . "I"' . 5(if '. 77)i Si 775 s . mi STi)i . 55 . 50 52)i r,i). KH 51 1,1 51 107 111(1)4 HilUj 11 Pf llt'i llt'f 75 72 H 75 lll.'i lMJi llIJi h'.lhi 8!l' 8l)'i l(i -15V, .fl! 121'. 1214- 121;; I.T4 -l.Ts l.'iJ'j WiJi VXtti W.iH 2() IS'i 20 (id's 3S'2 5'.)'4 110); 110 1104 ill ". 7.1 17 in;,' ii)?, 72'i 72'i 72U nji im wi mi 50 6(H( 17) i -KIH 47? , I5'i -i.'i'i 41 17)1 17 17? 70 (js'.'i fiy;, 77)5 77) j 7V!j 110 10i 10!) 20 25),' 20 CO 00 00 71f 71)i' 74!f fiflj, 55 55 21) 2S,'' 2SJi Aelnn Kxploslies Am-llrltlsh .Mfrt , All lluir ,( IV I 8 do pref 1 American Mnreonl Alux Ilubtier lne I .... Cntindlun Car. & IMy Can Car .- I'dy iM Chevroht Slolur Cnr Cuban Cnno Stiuar Ctirtlsi Aeroplane DrlRBn-Senbury Ihnersnn Phonimrnph Ilasltell & darker Car .., Itendee Slfir Inter Ster .Marine Inter Sler .Marino pfl Knthixllnii llrnnjo pref ... l.ynn l'honocrnph Slanhnttan Transit Sla.xlm Munition Slldvnlo steel dtln lllernlor Otto lilsenlohr I do pref Peerless Motor Poole line A Maeh St Joseph Lead S H KresRc w I Standard Motor Submarine limit v t c etfs Trlatiule Film v t rtfs .... Ctilled Prollt SliarlllK .... U S l.litht & Heat ,f do pref White .Motors I World Film .. IN . . 3D .. 4H . . 34 . . .Hi . . 115 . . M ::. . . 47 ::!?J .4,2 :; Tii4 . . -11 , . in ,. N ,. IJi . r.u . (15'.k . 112 . .-,1 . no 4 . 211 .115. . 1(14 . 12 . .1 3!'., . 1 . 44 . in 4 . 1U 2M "' rii 3i 70 70 M. 1.15, 112 14 45 2H IP ii r,4 1154 115 5.1 1.11 27 lii4 12 4 Jt',4 in I .-..i'4 14 STAXDAItn Oil. SUIlSlDtAIUr.S. 50 77H 71H 54.', 65 , ll,'4 41(4' 77H 07 SAH 50 775 i 71', 85' i 5I, 55 lOOh' . :io)i . th . 77JS .10S)i . 25)s . GOH 1 Pacific Mall. 1'ennsylvanU U It... Peoples Gas Chi Pettlbone-M 1st pf. Philadelphia Co Pitts Coal X J pf. .. Pitts C C & St L. .. Plltshursh Steel pf.. nil I Pressed Steel Car Co.. 5.1! 1131; Pullman Co 102 !I3 73 4 .-.II', 1)2 1IH4 1.12 77 112 ' Km KI74 113 1114 !i4 7h4 11(1 1134 !I34 Hl'i lllll'i 034 102 0114 IKH mi 4 73 hll 117 i 454 1.11 4 B.I 1.104 ln, 8K4 104 4, oou i lOS'f 104)i 107' 3 :uii 30' i :to'2 th 4h Ih 79 7S 70 lOS.'i lOS'f 10S',' 25 SIH-j 2!Hi 00)j (i(!!f 00' i 10.', 10'i 10!, l-i:i 1 10 14!! (15!,' 05U 05' i HOW 105' 1 103MC 27' 1 274 27'i HUM 00)j OU'i 113'i ll.'IU 113U 0 SH ll'i 24h 2lh 2lh 50) i 504' 50! i 10th 101)i mi1. Kit!,' J2,'4 DO IH) DO 42 42 42 IKiii ltXlh KXih 80 80 80 JO 0(5 1)0 5:i 5.1 5:i ioih loih loih" :t', :t'i :, 39J5 3D 39)4 23)4' -'3f 23)1 87'i NHi 87 21H 50),' 12) i 103h 81!, DS Illinois l:' Ohio Oil 2.U H O of California ;;.-; S O nf New Jersey ;-- S O of New Yorls -10 OTIIlill Oil, STOCKS. Inter Pet (.'union Oil Chalmers oil Houston Oil Midwest Hetlntnrc , Sapulpii MININd STOCKS Atlanta Cerro tie P.lsco Unit,, c . . v t ctfs lluttu .- N V I'lrst National Copper (ioldlleld Mentor Ileclu Sllulnn Htm, Sound Jim Ilutler .Iinnho i:lenslon SliiKtna Copper SleKlnley-DarrnRh SIlneH of Allierlra NlplsshiK Sllnes Co San Toy West i:ml Consolidated Ken Zinc IIONDS. Ches & Ohio 5s Cerro do Pasco lis .Ml. hale Steel 5s 12'i 'MU 11 10 115 4 13 14 374 SH 5?i I4 nV 711 111 47 17 Ml 134 1)74 11.1 4 17S 235 230 525 212 12 J, 421 A .s 1S (1.14 13 4 15 :im4 HJ, 3V4 (1 14 54 DB 7.S 10 4 5.1 3 74 IS S2 134 OS 118 COTTON TUIIXKD EASIER ON SLACKENED DEMAND Weakness in Stock Market Unsottlement Caused 3! J 40 SiU 80V, 45',- 51 40! i fll. 109) i 109) IKi.io South Ilivy wen 4s.. 7n& 300.) So itu-v sr & n i tki: IOII.I Third Ave ref Is... ' K2!. 82'. 1000 Third Ave adj 3a... M!i m'I M'i 71)00 Toklo 5s .. T8S 7KI 7l?! loo.) Tol Peo & w 4s r.ii'J r,itJ ,! 4.101) II S Realty 5s TI 71 71"? 101)00 U S Hubber Its lll.Tl! 111-1 " ,.,,' . 30(100 II H Hleel 5a a f IIKHIO Union Puc 1st 4a.. (10(1.1 t'nlon Pac cv 4s 23.10(1 Union Pac rfd 4s... IKiiin I'n Itwys S K 4a... 30(H) Va K), 3s 200.1 Wabash 2d 5a 400.) Wab-P T 1st ct 4s. . 470011 West SId 1st 4s . . . 500U West Union 1H . . Total sales. SI, 138,000. S2,u.'0,000 la.t .Monday. 0.1 V. I0'i 1)3 'i uo IIHV4 UM4 IH 74 1)5!, 1U1 1)7 !1 113 "!! IIKU t)H4 1'! 72 ; D51. H3 'i 1)3 U i .'! I 5'i 5)5 3'4 5 35h 33!, 1D0 10! j 50), 109 H 3'-. 51 4), nut ia5 10h 51 109' , H 4 m 33!.' 190 Qulrksllver Hy Steel Sp Co..., Itay Con Copper. . Heaillns Iteadins 2d pf Hepuulle. Iron & S. JlepuMIc I & S pf . Itoek Island St Louis At S F. ... St L .t S p 1st pf. St I, & S p 2d pf . Shat Ariz Cop South Porto It SUJ....18S South P U sus; pf, Southern Paclilc. . Southern Hy Southern Ily pf. .. Standard Mlllins.. Studehiker Co Tenn Copper 52)4 Texas Co 100 Teias Co rights 17h Union lias & Paper. . . 8J Union lias 4 P pf 31 United Cigar Stores .. OJf Uiilted Cigar Mfrs pf..l09)j 110 109!,' J09', union paciiie 131 133)4 van 133U Union Pacific pf 83 8,'J S3 83 United Fruit 141 IVAV, 142 143), u n inq Aiconoi l.M'i lo-Uj IS-' U 8 Ind Alcohol pf. .. .104 i()5 105 U S C I 1 X F 23 22!f 22! USUI 1'ifpl.... 53)4 52 5! 11)4 14h 52)4 52 110)f 110) 21 6914 . 90K 14H4 United Rys Inv Co. u s Hubber V S Hubber 1st pf 113)4 113)4 li:t)4 113)4 US!j 9Sh 9S OS! i 21 20H 2054 59)4 59 59 00)4 93 00)4 liitf 139 niu 52!i 31 lOit 105)( 192)4 191)4 1754 174 17)4 8 7J 7)4 33)4 33 33H 0)4 0)4 0! 153 ia 22)4 52 14)4 51)i 14)4 51 U S Steel Corpn 8)4 compared with NEW YORK COFFEE MARKET NEW YORK, March 27. Tho coffee market opened steady this morning, with prices unchanged to 2 points higher. Sales, 3500 bags. March ... April ...., Slay Jun .... July Ausust . . . September October . . , November lfcwBHer January Kuaruary OfIrd. Today's Saturday's open. close, .... 8.US8.13 .... 8.15$8.1T 8.22 8.1UAN.20 8.228.2 .... 8.2118.27 .... h.2S8.Sl) 8.33 8.328.33 .... 8.3398.3U .... 8.388.40 g.43 8.438.43 S.SO 8.47.4 '8.33 8.318.53 COVERNSIENT BONDS reiicrt;d 1830 L MUKA lUaU Tl -.-.. tttlauttta ivt Did. Asked. ... 6K ...102 2m rnlinan lStg 10: : MBlElMll 191 Ill tollmen Ha....-.-, iiih ,,iir.j 2 reUtoreJ 1ZH S3 Lj-i-i, f rwlUr4 J9UI 1024, 102 102 U PK SILVER sSlvcr -wk ttittUed In, Londoa tad&y a.t " lf , : friui umr a4w vxf.uuvwi 4 4W j( t r smu. m ; teat, RAILROAD EARNINGS BUFFALO. ROCHESTER AND PITTSBUnaH. 1818. Increase. February Eroa ..... Vsl,704 1284.224 Nat 23).U'J0 loil.USl Surplua IS4.U78 133,801 COLORADO AND SOUTHERN. Third week Starch . . . 1267.883 129.230 From July 1 11.638,282 778,481 TOLKPO, 1'EOItIA. AND WESTERN. M)4 117 Oh) 4 .51)4 80)4 4(i)-4 110)4 110)4 S'l)4 &), 110J4 117 07)4 0S)4 51H 51)4 70)4 feO 45)4' 40)4 u o oievi vufpu pi.... 4101 U S Sm II li M UH U S Sm It & M pf. ... 52 Utah Copper 81 Va-Caro Chem 40 Va-Caro Chem pf HlJi H0J4 110J4 110!,' Wabash 15)4 15)f 15 15)4 Wabash pf A 45) 4534 41)f 45)4 Wabash pf H 2S 28)4 2754 2S)4 Wells Kareo Exp 12f)4 12SH 128)4 12SJ4 WestE&M 08 0554 0454 05)4 West Union Tel 89)4 00 89)4 00 Western Maryland 3254 34)4 32 33)4 West Maryland pf 47 49 48 49 Willys Overland 230 226)424 224 WyUys 0 pf s r t p. -101)4 104)5 104)4 104)5 Total tale,. 373.000 thare. compared with 834,000 blurt), laat Monday. SK1V YOIUC, March 27. Traders' operations Rovernetl the action of tho cot ton market nt the opening this morning. With tho exception of n limited supply of October from Liverpool, tho business on both sides was scattered, with tho de mand slightly In excess of the supply, causing a steady tono In view of dlsnp pointing Liverpool cables. Prices at the start wero 3 points higher to 1 point lower. Tho early advance carried prices about 2 to 6 points net higher, but the demand then slackened and prices eased toward tho middle of tho morning under scattered selling, which seemed to come chlelly from Wall street sources. . Weakness In tho stock market rather than a nervous feeling over the more re cent submarino developments appeared to unsettle sentiment to somo extent and the active months sold 3 to 4 points un der Saturday's closing figures. This de cline carried July contracts down to 11.97c but. ns has been the case recently, a better demand was encountered around that level. Tart of It probably repre sented trade buying, while thero may have been somo Liverpool buying to undo straddlers. Tho market steadied up ngain. with July selling back to 12.01c, or about net unchanged. Some local weather students arc predicting that March rainfall for Texas will average the llghtert on record. Quotations In Liverpool wero S-i to 3 points higher nt tho tlmo of the start here, or about ,3 as large an advance as was due. Private cables stated that very little buying power was exhibited In tho English market. Own 11. tin 12.0.1 12.12 12.23 12.ua Slny July octuber December January Spot Sat. rlose. 11. mi 12.02 rj.i a 12.28 12.34 12.05 IllKh. ll.li.l 12.II1I 12.211 12.33 12.3'J J.ov. 11. S7 11.07 Close, ll.llil 12.011 12.18 12.33 12.3S 12.03 Third weelr Milch ... 12-J117 From July 1 U24.017 SOUTHERN RAILWAY. February irew -'. B.7.1S2 SM ... ." 1.581. ill Wtlbt nuuubV eroaji.. 43.591. U77 Nt 1M31.2UO GRAND TRUNK. ThlritveeirMnrfb.,., ,,S23 i860 21.241 S1.008.7S5 81.017 3.S33.8S1 4,l.tl21 fl09.24 PUBLIC UTILITIES Though the earnings of the Cumber land County Power and Light Company and Its subsidiaries were Increased nearly 9 per cent. In gross for February, larger expenditures for operating costs and taxes resulted In a loss of more than 6 per cent. In net earnings. Tbis Increase In operat ing expenses Is because the company Is now charging $6260 monthly for-depreciation, and a larger amount was spent for maintenance during the month than a year ago. Total gross income was J19S, 398; charges for operation and taxes were, 1128,088, a gain of almost 19 per cent, leaving net revenues of 870.312, against tM.vut in iv 10. Alter allowing 811,500 for preferred stock dividend and deducting interest, rental charges, etc.. there was a deficit of 18948, compared with a curpliu Vi ai Ul 4J4. Liverpool Cotton LIVEItPOOL, March 27. Spot cotton, today, was quiet 1 point higher on tho basis of 7.70 d. for mid-upland. The sales aggregated 6000 bales Including 1000 bales American. The Import:! were 1000, nona American. The market for futures closed steady at a net advance of 8 li points. Canada's Flour Exports Up 300 P. C. MONTIWAL. March 27. When the offi cial figures are available for the fiscal year 1915-16. which ends on March 31, It will bo found that the Hour mills of Can ada have sent out of this country Just 5,500,000 barrels of flour In the year, and have brought Into the country In return a sum considerably In excess of $30,000,000. This will compare with $24,500,000 in 1914-15 and $20,250,000 in 19U. while only seven years ago, In the fiscal year 1908-09, the exports of wheat Hour was less than $8,000,000. Thus, tho volume of this expert industry has been increased nearly 300 per cent, in seven years. Pennsylvania. Salt regular qu 13. aa reu: 1'i'im (.-entrui j.isht DIVIDENDS DECLARED Ivanla Salt Manufacturing Company, uarterly ut 2 per cent., payable April Klatereil March 31. . Central I.lcht end Power Hnmnnnv quarterly of 1 per cent, on preferre.1, payable Anrll 3. to iitorlc of record March 'JT ''Itlwim Traction Company, quarterly of in per cent, on preferred, payable April 3 to itoek of record March 27. 1'arr Alpaca Company, regular quarterly of 2 per cent., payable April 3 to stock of rec ord March 27. LIVE STOCK QUOTATIONS CHICAGO. March 27 HOGS Receipt. 38, OOll head: market 3c. to 10c. higher. Mixed and butchers. 18.33010.03; icood buvy, 8.73 10.031 pU. tB.lu68.80; bulk. JO.bOtfo'w; CATTI.B Ilecelpte, 16. 000 bead; market tronif. Deeve. 17.25 W 10; cow and beltere. J3.IM4S3.M. (locker and feedvre. Is 238.40; Texane. I7.13$6.80; calves. IK.306iu.73, SHEEP Itecvlpt. lOOO head, market 10c. blither. Native and Weitero. 3.DU8.13; lambs. I0OUS3. NEW YORK BUTTER AND EGGS NEW YOKK. March 27 BUTTER Market somewhat freer, buylas prices firmer. Ke col we, 3387 pakagea. Extra creamery, ti esaSc: Jileber scoria. 3737Ho. state dairy, see. ; Imitation creamery. 2727Hc EGOS Market Iftm tvlth aturage offer stlU Volo for current use Receipts. 17 1st reaea. Kitr, first. 21 22c. . firsts. 2121Ue.4 wpiie ess, tivit9 . orvwa cksx, x.esz. or, ziifsc.. re 1 telxsd coli , rerrUeraUr pet Quoted, llonn AllfRh Vnl in IIHJA WIT 2711.) Am O & III :n tinji 1134 r.iliui llnl I.o Int nn.lo.'i'i 103'i linn Inters flwys Is M 37 noon I, N ens IHn.ln.l 103 7(1.1(1 1, V iron IHs.ln.1, 1"3. Biioi) 1-h Vnl Tr U 1)24 24 lno.i I'n conn -in -I8 mi IHlH lllilll do Ren His. 102' 1112 1(100 HrmllnK cen ! 1)14 IM?i Kino Htnnit dim l!.q.liil)', lO.I'.i -I Increase. Decrease. N'el Clo""). chire, BSft T It lll.1,4 ns 1113 ..... lo:i, Ji 1,2 li 14 Dlltk 1II2(, '4 1141 Klllii , Totnl nlc. Iimt .Momlii. 831,200, romimrr.1 with $70,700 Local Bid and Asked liurr & Bus t c do pref , , J ( llrllt llnlilwln , Cnnibrlii .Steel Klw Klnruze tlcnornl AKphnlt .... do pref Keystone Telephone . do t r do prof I.nkn Hnperlor Corp. LehlKh Nali;ntlon . Iliiith nlley Lehliih Vnlley Trim. dn pref IVniisylviinlii l'hlla lllvctrlc l'hllii C ilo ,", per cent. prf. ilo 11 p,r cent. pref. Phlla It T iln t c KlMlJIllJT Tonnniili liclmont ... Tonop.ih Minlnrt .... Union Traction l.nttfil (Ins tiuprnv., I! M Slnol York Hallway do pref Wm Cramp to Tod.iy Saturday 111. I. Aakp.l. lllil. Askeil. 12 424 42W I2M r.H'.i fill ri!t',4 011 111 '4 43 10.-, 10.1 104 10l!4 Mllji HlVi K.H4 StU (II '1 112 IllJi 024 :i.i,i 37 niiii :i7. 72 73 71'.S 72 '1 . ll'i H'i Hi 14.H 14,4 M-14 14'.4 14 .10 711 .III 70 , 1118! 1.IJ4 10 LIU , 7." "."' 7.". 734 7.3 ?.S, .335 3S 22' 1 22 h 22 ' 2.1 :14 It -W 44 r.i J, r,7. r..ij4 r,7 27 N 27 Ji 27(4 27'i 414 42 i 42 42. 4 as :m as :ii 44. 44 i 41, 4 1'.i lM'i 111 1S1 111 1H 111 184 ID Sll4 H7 H.l'. 4 HII5 4 I1',. 4'',. 4 lli '' (P., Il" 434 .. I3J4 44 N!ls HI. Hlj. HO. Sl-J, Kl'4 si. HIV4 in!-, 11 in'-i 11 :in4 :i7 3.11 37 M.I X2 HO HI Business on the riillntlelphla Stock KxchatiRO today wns on tho same smnll scalo thnt ruled throughout last week. Traders showed tho samo wnltlng dis position wnltlnfr for somo development cither Rood or bad, I'rlco variations from tho close of Snturday were small and Ir reRUlar, following tho lead of tho Wall street market, Tho only feature was United States Steel common, about 6000 shares of that stock changing hands during the dny's session, It dropped off a frnctlon as compared with the last close. Asldo from this tho market might liavo been said to havo struck 11 dead centre. Of the local stocks the only Interest shown was In Tonopah ticlmont, hut thnt stock was not ns nctlvo as during tho Intter part of laRt week, tho buying In It then being tluo to tho ndvnnco In tho prlco of bar silver, both In the New York mar ket and nt London. Bcforo noon nenrly 800 shares of tho stock had changed hands nt nn ndvnnco of a small fraction. In tho nfternon session Lake Superior LOCAL LOANS EXPAND Increase of $1,209,000 Individual De posits Decline $1,905,000 There wns nn expansion of $1,209,000 In loans of the members of tho Philadel phia Clearing House Association during Inst week, bringing that Item up to $500, 3G4,000. Surplus fell $008,000. Individual deposits declined $1,995,000, Details follow: Financial Briefs Loan llepfK (Ind.) circulation Dun from lmnks . . Deposits of banks I'.x nlenrlnir house. Hcserves held .... Reserves required Surplus Surplus under nld form March i.'.;.riu,iii)i); .Mnrrn .11, 1111:1, March 27. '1(1. . . .-.l)i)..1.-,l.ri(l0 . . 421,11111,011.) 0,7 1.1, ODD . . 71,1171,0.1.) :. i7ii,s7.i.o.)i) . . lll.OSM.OO.I . . 117,01.1,0.10 . . 77,(US,0ni) . . 30,002,000 -Mnrrh 23, 1012, Sll.lfc0.0OU. Decrease. 1.2.)l).ono l,l)tir,.on.i HI, 000 4,"IHi..iiii) . -1, 1182,000 1,777,0.10 11.18,1100 IIO.OIIO 008.000 30, 11)14. 1, (IH.IIIIIIi 118,01)7,000: March 20. 11)11 Mock attracted somo attention by adva Ing r, to loy, on the sale of about . shares. Tha Street heard today d !XJ Algoma Central Steel Corporation . 1 JS? sldlary of tho company, had sold I 8 wS power Interests and ferry nnd street r business at Sault Slo Mario to th?cjiSt Lakes Power Company. Ltd. The all., LakeB Company Is a new concern and ni pay a large sum In, cash to Algoma Steii Algoma will uso this money In the d.l.i opmont of Its steel plants and will wi" after glvo exclusive attention to the (?. plnnt. tlM Philadelphia Bapld Transit trust cpkis catcs sold unchanged nt 19, while thi . delphla Traction dropped ,, to 77 tt, Traction was nlso off slightly, "e,",'0," Storage Battery sagged somewhat. ' XB.A .-Acq. A meeting of the board of directors of the United Stntes Smelting, lleflning and Mining Company will be held April 4. According to those In a position to know, tho report for 1015 will show about $14 earned on tho common stock. Thus far in 1 91 G the company has been earning at the amuiat rate of $30 tier share on the Junior Issue, and It is stated In well-informed quartern that this rate can reason ably be expected to continue, duo to the larger production which will bo mado ot the various metals and the high prices being realized for them, ns well as the In creased output of sliver and tho bettor levels which arc likely to rule from this tlmo on. Approximately $1,500,000 Anglo-French 5 per cent, bonds sold on tho New York Stock Kxchnngo today. Two largo blocks of $220,000 and $282,000 chnnged hands at 95 and oito block of $310,000 sold at 35 1.4. Xet earnings of the Union Bag nnd Pnper Company for tho year ended Janu ary 31 decreased $409,396 as compared wiui ii 1. I'rollt and loss surplus was $1,G61,38B, a decrease of $84,480 as com pared with the previous year. Additional shares of various companies have been regularly listed on tho Phila delphia Stock Exchange as follows: $308,700 American Telephone and Tele graph, $5000 Keystone Telephone common (v. t. certificates) and $1000 General As phalt common. At a special meeting In New York of the stockholders of the United Drug Com pany, of New York, it was voted to take out a charter under Massachusetts laws. Banks lost to New York Subtrcasury, Saturday, $1,731,000, and lost sinco Friday last $2,298,000. Gross earnings of the Marconi Wire less Telegraph Company of America for the year ended December 31 show a do crease of $8338, with net Income of $62, 447. Total Income Increased $17,106 and surplus Increased $27,440. The annual report of tho American Xlnc, Lead and Smelting Company for the cal endar year 1915 shows operating profits of $5,293.87S. equivalent to $27.45 a share. Net profits Increased $3,216,186. Balance carried to surplus Increased $2,585,808. BANK GOVEKNOItS TO MEET WASHINGTON, March 27. Governors of Federal Reservo banks will hold n ses sion In Washington, April 12, It was an nounced at tho Treasury today. Ben jamin Strong, Jr., president of the New York Bcservo Bank, --will mako a report ns to conditions of exchango In Great Britain, Tho ndvlsablllty of establishing branch banks abroad In order to facilitate ! International exchango between the United I States nnd European countries will also come up for discussion. Following a meeting of the board of governors tho members of the ndvlsory uoara or tno reservo banks, of which J. 1'. Morgnn Is a member. Is expected to hold a session hero. No announcement wns made today concerning this meeting, but It wns said that the Federal Heservo Board Is anxious to bo advised as to flnanclnl conditions in England, which Mr. Morgan recently Investigated. PUBLIC SERVICE' SECURlfms" The rfcjcitrfcncc of municipnlitiet on Public Service Corporations i the strength of their securities." C, The preferred stocks of cert.in public set-vice companies afford tl opportunity for substantial investment yielding- a high return. C. Wc particularly recommend tha cumulative 6 preferred stock of 1 public service company netting f present prices 6.42. G, Balance earned 1915 over 3 timei preferred requirements. C. The company is paying; 4 on common, over 10 Icing earned. C, The properties are situated in dif ferent localities, thus assuring stability of income. G, Detailed description on request. Baker? Aylirvg Co. Land Title Bldg.Phil&ttebhift FOREIGN EXCHANGE NEW VOltK. March 27. Tho market for foreign exchange opened today quiet without appreciable chango In quotations from Saturday's final figures. Demand sterling, 4.76 5-16; cables, 1.76 15-16; franc cables, 5.96; checks, 5.96,; relchsmarks, 71 9-165J'71; lire cnblcs, 6.69'j; checks, 6.70; Swiss cables, 5.22; checks, 5.22 Vy, Vienna, 12.39 and 12.42; Stockholm, 28.70; pesetas, 19.12 and 19.15; guilders, 42 4 and 42; rubles, 31 and 31ni. Later the market was dull but steady. Sterling was 1-16 lower at 4.76 H for de mand and 4.76 for cables. Francs wcro unchanged, 5.96 for cnbles and 5. 9691 for checks, nnd relchsmarks at 71 9-16 and 71. RATES FOR MONEY Call. Time. Now York lft(i!2 !i83 Philadelphia :i34 :i(st4 Iloston 3 4 (ii -I ; Uhlcano :i'.jCJI 4 (l(5 Commercial paper, three to six months. Phil adelphia, 3!4 m per cent. I.EGATi ADVERTISEMENTS AM. I'KIt.SONS AHi: HEREBY C,U- tlonril URiilnst hnrborlntr or trimtlnt? nny of the crew of tho (Jreek steamship Kca terlna Cnuppa from llarcelona, Hpaln, O. Cnu vlolos. Master, as no debts of their contr.ictlnt," will bo paid hy tho Master, owners or by ,N L.INK STUAJIHllll" CO.. Acenta. 432 IlUUItt HldST. KAHJ. ?MM ii Lehigh & New England Railroad Co. Genl. Mort. 5 Bonds Due .Tuly 1, 1954 I'rlce on application. 8 Cumulative Preferred KstuhlNtitM. twenty mmm Real Estate Value $1,500,000 1-Jamltuh nearly Ave time dividend iviulrpments. Circular on mutest Elwe!., ftaufty & Co. Mi:k Exi'liiuiee llld. INVEST IN MORTGAGES AT 5.4 ,' Recommended by BEN T. WELCH 1328 Chestnut St. ODD LOTS FOR SALE Pennii. Steel 1st 5a, 1917 Pittsburgh & Lake Erie 5s, 1928 Elmira & Williamsport 1st 4s. 1950 Hestonvllle, Mantua & Fair. 5s, 1924 West Phila. Passenger 5s, 192G Edison Elec. Co. Tr. Ctf. 5s, 194G Indianapolis Traction & Term. 5s, 1933 Phila., Wilmington & Oalto. 4s, 1921 Choctaw, Okla. & Gulf Gen. 5s, 1919 Phila. & Willow Grove 1st 4'2b, 1931 Lehigh & New England Gen. 5s, 1954 Lehigh Valley R. It. Cons. Gs, 1923 Choctaw & Memphis 1st 5s, 1949 Penna. Co. 3'js, "B" & "C" & "D" Western N. Y. & Penna. 1st 5s, 1937 Choctaw, Okla. & Gulf Cons. 5s, 1952 Wilmington & Northern Gen. 5s, 1932 CHARLES FEARON & CO. 333 Chestnut St. Midvale Steel and Ordnance Co. q 5 Bonds . fj Due in twenty years q Convertible into stock , q Sinking Fund Cumulative q Only obligation of Company q Earnings about 50 on Bonds q We offer at market price Reed A. Morgan & Co. WEST KNP TBUHT IIUIXniNO I'HILAIIKLI'III.V Members of the Phlla. Stock Exchange DIVIDENDS The United Gas and Electric Corporation gi imOADWAY. NEW YOHK. March 23. 1019. The Board of Directors Has this day declared a dividend of 14 on tha Seven Per Cent. First Preferred Stock of this Corporation, pay able April 1. 11116. to. stockholders ot record March 1'3. 101K. Dividend checks will be tnaUed. II. i. I'BII-CIIABD. Treasurer. D1BECTOBY Of ACCOUNTANTS CeitldcJ PutUa AsaaoataaM LAWHiiNCiU E. JAIIOWN A CO. 31 ISAfa KUTATal T&UWS UUIUDIHO, The Stability of Banks in trie United States is a subject about wnicb vol umes of statistics could be written, but sufficient evidence is tbe fact tbat tbe first bank chartered, the first savings society organized and tbe First National Bank chartered are still doing business and are located in Philadelphia. It shows tbat they were properly organized, are well managed and can be entrusted with your financial affairs. Though the record of this bank dates back to the beginning of National Banks, it is today equipped and conducted for tbe highest class service to its customers. The First National bank of .Philadelphia rrl'Vk3 315 Cheatnut St. Increased Earnings over a generally depressed business period, sub stantial equities on underlying issues, prosperity of population served and last, but not least, Good Management, are the fundamental reasons, condensed, which lead us to suggest as a suitable conservative investment the 6 Cumu lative Preferred Stock of United Light & Railways Company which returns above 7Vfc--at present prices. The Common, selling at 55 to 57 with substantial earnings, steadily increasing, provides more than a semi-speculative investment. Send for our "UNITED LIGHT & RAILWAYS DIGEST SS L," which gives in detail our reason for advising the purchase of both these stocks. Ebert, Michaelis & Co. Specialists in Public VMUu Securities TeL Hector fi228, 60 Broadway, New York o
Significant historical Pennsylvania newspapers