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EVENING LEDGEB-PHILAPELPHIA, WEDNESDAY, APEIL 5, 1916.
15
.-..,,-
JUL
f
f
FINANCIAL NEWS
SENTIMENT TURNS TO BULL SIDE;
NEARLY ALL STOCKS ADVANCE
Upward Move in Rails Based on Information That La
bor Troubles Will Be Settled Without a Strike An
( thracite Situation Seems to Be Well in Hand
' NEW YORK, April G.
Trading sentiment turned to the bull sldo nc-iiln tills morning and Instead
of the drives and declines that marked yesterday's trading price movements
today were nearly In alt cases to higher levels. A substantial Incentlvo for pur
clinso of stocks was found In tho attitude of one of the leading houses Moore
& Schley who first wero aggressive buyers of Reading and were later buyers of
Union Pacific, Northern Pacific, Erie and Chesapeake and Ohio.
It was ascertained that this movement was based on what Was believed to
be sound Information that developments had occurred which promise a settle
ment of labor troubles without resorting to a strike and was said by some Im
portant mllroad Interest today that thero is no fear of any tie-up of the rail
road systems being ordered. Confidence In these statements was shown In the
strength or Now York Central, Erie, St. Paul and all other Important active rail
way Issues. The railroad shares furnished virtually tho whole market In the
afternoon, with ndvances of n point and moro In many Issues.
Tho anthracite situation seems nlso to bo well in hand. One of tho directors
of tho Lehigh Valley said that tho outlook now 'is that everything Is adjusted,
nltnough ho was disinclined to make any positive statement In advance of formal
notion. Heading hos undoubtedly been influenced by this outlook, but Reading
stock Is In such a strong position and has so many friends that It may bo looked
to for an atlvanco on either favorable or unfavorable news.
Tho ndvanco In American Smelting was on buying by n. firm closely con
nected with tho Guggenheim Interests. The Guggenheim fumily ntid Its affilia
tions are bullish over tho outlook for American Smelting with tho clearing away
of tho harassing bandits from tho zone In which their Mexican properties arc
'"""'" -hikou uroporucs in normal times furnished fino third of American
Smeltlng's net income.
,, ..Tl,e?'WM BO0d b,,ylnB n" through the morning In tho standard Issues, like
united States Steel common, Anaconda and Utah Copper.
Copper Exports to Franco Increase
BOSTON, April C In tho seven months ended January 31 there httvo been
Sa1. Fr.nnC 151'123'083 PonnOn of American copper, as compared with
84.000.882 pounds In tho same period last year nnd D3.2M.103 two years ago ' Kng
,an,? t0 .nli' 86'9"'770 Pound", whereas last year there was consigned to Hrltlsli
ports 133,216,732 pounds. Despite tho fact that total exports up to tho end of
January last wore 164,000,000 pounds less than in the corresponding period of
rarB,,nR' U' Val" WnS on,y "00.0( 'ess, or $75,229,430. against $83.
ro.lo 'o POr'8 f CPpor d"rillB Inn,1!ry totaled 66,(11 1.532 pounds, against
flP0U 8 yCar- Tll ValU0' 1,0WaVfr, Jumped from $7,700,000 to
New York Bond Sales
2:40
High. I.ow. I'.Xf.
IMI 115 j ?
V HI '
4. nsj
103 103S
1(14 limii
. iiu'i won
P3'
va'i
VI
uH ii
VA It)
1374000 AwtlO'Fr r,
aiiiio Amcr T1 clt 4
3m() Amir Tel cvt 4 ',
40UO Armour Co 4.4
lli.iiiil Atchlfton Rfn 4s .
2000 Atchldon cv 4 ..
eiiiicio Atehlaon cv 4s 'no
IOIIO Atch Trnna H I. i.
.!!!'"! Allan en i.lno 1st 4s o.l
Jju "ait ft Oho fls ,...100!
0000 Unit C) Sum nU. Ill
'I!!!!!!! !!".'.' hi m "' ..unn loin
, C'nt I'nc lt -u ... nojj
4,000 do 1028 H74
211100 0(1 1031 njli
1IHIIIM rhlll fAnnAM ?i 4'tn?
f.iiuo :h Ohio cv His no's
3001)0 (,'hl It A joint Is. is
JOiio L'hl II h u K-n 4s. ulI
lil Chi Ind (Cl,ou is. .llL'S
S.-iOOO Chi M A K! pV.il. 1,17(2
a?.0l!2 Kf M SJ' v 4'is.lOOj; 100;S
lOOO nev Kh I.lno (jii.li)ii(? 1004
. ' 1 """ vHB CV I)!. liilM
0..00 I)o Hu.l ronv (Is. 107 j
r."00 Hrl ft 11,1,1 rf,l 4s.. 07S
aoiio Ills Hrrur c-orp f,s. 7.14
100(1 Krl sen 4s 7(i
SJilim Mrlo ronv 4s nor A.. 7lh
4.1O00 Krlorv w 1,1 4s... AsS
!U!!!! !!' ,1'".!l, v n" lrnvS io7Vi
:.., J I I cons sm us. in? in
......v. nun amn in ris ... 2Uli
7i1cio Hurt Man rid 3s . 73(4
noon ill H11 ,ih jit. ..ii?
mini Ih.i 0.1 -. ' ''.i,..i.1
.2000 ill (Vntrnl iVioftA
10(100 Intor .Mpt 414s . .
Mioo inter 11 T ref f,s
00 H
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117'i
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112
107
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171000 In .It M t c 4H
ii,,,,,,, jnp new 11 h 4'4s
loooo K C Ft fl ft M 4s.
1000 Kiln City So 1st 3s ,
31100 Kan city TVr 1st 4s
4000 Knna Mlrh 4s . .
.10110 t.nrk t r,s 1023
1000 Lack Htl "is 10.10
3000 1, S del) 4s 102.S..
Mioo 1, M deb Is 1031 ,
20110 Minn St I. 4s
0(1(10 Mo K T 1st Is.
10(1(1 Mo I'nc r.s 1020..
11000 Mont l'mvcr fis...
3000 N Y f 1, H 3jB..
4000 N Y C & It 3 ft 8.
00(10 do 4 '4s "..
2.1.1(1,1 ?J - f.,nt Ita
102
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73 .
00 Jj
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110 i
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im
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73 k
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tgsh
8.,4
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80 !4
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00 4
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05 Ji
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ok
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1 000 N' Y Cy l'4s My 'ri7.107l4 107(4 107
..!!!!!' w'lS.'.9 Nov. (1157.. 10(1 J lort 1 lints'
25001) N Y llwy ref s 70 r4 70 (J 70S
Eastern Steel Pays Part of Back Dividends
NEW YORK, April 5. The Eastern Stocel Company has declared a divided of
BU per cent, on tho first preferred stock to apply on accumulated dividends. The
company also declared tho regular quarterly dividend of 1 per cent, on tho
first preferred. Koth dividends nro payablo May 15 to stockholders of record May
1. This leaves a total of 0?i per cent, in back dividends on the first preferred
Btoclc.
Lanston Monotype Kesumes Dividends
NEW YORK, April 5. Tho Lanston Monotypo Machine Company has re
sumed payments of dividends nt tho rate of 1 per cent., payablo May 31. Tho
dividend was passed In June. 1914, previous to which time tho regular quarterly
disbursements of 1U per cont. had been made slnco December, 1009. Whlto It
Is not stated that tho dividend just declared Is a quarterly payment, it is under
stood that It is tho intention to re-establish stock on the old basis.
United States Smeltinp; Increases Dividend
BOSTON, April 5. Tho United States Smelting directors havo declared a
dividend of $ltn share on tho common stock, placing It on a $4 basis as compared
with $3 previously. Tho directors o: tho United States Smelting, Refining and
Mining Company have declared a regular quarterly dividend of S7H cents on
tho proforred stock. Dividends wtro resumed on tho common stock three months
ngo with a declaration of 75 centa a share, previous to which 75 cants was paid
July 15, 1914.
NEW YORK STOCK SALES
I.i.it 2:40
close. UIrIi. Low. turn,
Adams Express UiV, 14IJS 14I'f UAH
Alaska J Oold M 1(1 10 10 10
Alaska Oold Mines.... 20H 20H 20' 20VJ
AUIs-Chalmors Mfc,... -20H UIMf 2!s 20' i
Am Hoot Susar 72$ 7i'ij 72' 7.'i'i
Am Beet Suear pf 04 01H 01$ 04M
AmCan 00U fil'J 01U 01M
AmCar&Fdy co 70H OO'f 09f
Am Car & Kdy pf no HOH 110'S 110.
Am Coal Products IGOlf 102i 102! i 102'j
Am Coall'rod pf 117 110$ 110H IWA
Am Eiprcss 120 12SW 128 128
Am Illdo & L pr c-jij 52H S2H 52'
Am Ice Securities S8M 2SU 2Sj 28?
Am Linscod 2.JH 24.li 21 21
Am Llnsccd pf 40 .(fli 40 40'i
Am Locomotive 7bJ SOi 701$ so
Am Locomotive pf...l()4$ 102H 102'$ 102H
Am Sm & Rr 102'f 10-1H 102V 103$
Am Smelt pf A 0:$ 03$ 03)$ 03M
ArnjBmclt pf B SO 851f SS'i K5U
Mf Steel Foundries... r2li .r,23i 52?' 52'f
Am Suear Hof 100 . 110 109'i 110
AmSuzar Kef pf U3 H5H ll.r$ 115'$
Am Tel & Tel 127)i 12SVj- 12S 128
Am Tobacco mo lOOV 100H l'J0'$
Am Woolen 50 SOU 50Ji 50'i
Am Zinc L Sm SOU 00't' .S0!i S0?i
Anaconda Cop ii 805 hW 80 8(H
Assoclatod Oil 07$ 08 08 08
Atch Top & S F 103$ 1013$ 101 101
Atl Coast Line., 110 110H 110)$ 110)$
Bald Loco Wks 100U 108$ 107!$ 107J
Bait k Ohio 87)f 87H 87)$ 873$
Batopllas Mining 2$ 25f 2) 2M
Bethlehem Steel 404 48.) 4R'i 485
Brooklyn Union Oas..l20 120 128 120
Brooklyn Rap Tr KjK 8554 85)$ 85)$
BrunsT & It It sec... 0$ OK 0 0!f
Butte & Superior 01?t 02U 02 02
Cat retroleum 23i 2t 21 21
Cal Petroleum pf.,.,.. 51 5W !IH flli
Canadian Pacific I07)f 100 16SH 100
Central Leather 51U 5-lU 5J)i 6-H
unanaier Motor oi)g 04U 04!$
Ches & Ohio 02 03)$ 02'f
Chile Copper 22) 24 22)1
Chlno Copper 5-1$ 55 5-Uj
Chi Great West 12)f I2JI 12'$
CM Mil & St P 03)$ Olli 93)$
CMM&StPpf 129 130 130
Chi la Northwestern. . . 12S3 127 127
CMltl & Pae 17)1 17)f 17
uiuett I'ea & co 72)f 7:
Id st
Nov Con Cop. .... ?7,T ?$'
K-Cv J.0 AIJr Bko..l.l.-, l-0 115 140
$"" wi Mi my, o;.!f
?X O K 101)$ 105!f 101!f 105
x-v- mA.St L M'i :i;5v W-i
LVJi 28S lii "UH
N Y
Norfolk- & Western 122
ortn American 09
122W 121J$ 122$
00 00 G9
Northern Pacific 113'f 114W ll.'Pf 111
l-acmc Mall ' 22'f 231$ 2'.IH 23!$
Pennsylvania It '; ;,rnj 57?4 50'f 57K
453X
SOU
92$
OHf
02)$
23
MH
12J$
913$
130
127
17U
72
45!i
20?4
02)$
453$ .1531
. 21 20)f
. 923$ 04)$
.220 220 220 220
210 218 218 218
. 18!$ 19)$
. 93 02
4831
25)$
37U
5231
43)$
19!$
02
48
25
3031
52
43
111)
70J
91
49)1
19'$
92
48$
25)1
37$
52
43
110
78
01
4931
122)1
44)1
Col Fuel & Iron
Corn Products Kef. . .
Crucible .Steel
Cuban-Am Sugar
Del Lack & West
Denver & Wo Or pf.
Detroit United Itys...
Distil Sec Corpn 18H
kDoma Mines 25)$
PErie 30)1
W Erie 1st pf 52
Fed Min & Sm pf 41H
General Motors pf 1 lfl)$ 115
QoodrlchlB V 7631 78$
Granby Consol 01 91
Greene-Cananea 49$ 49)1
M Great Northern pf 121$ 122)1 122
O N cfs for ora prop. . 44 413$ 41)1
H Illinois Central 103 102)$ 102)1 102)$
lot Asrlcoltural pf,... 59H S9$ 5'JJ$ 50)$
L Int Harr NJ Ill 1113$ 110$ 110$
BIntlUrT NJ pf 118 U9)$ 1191$, 119$
V Int Paper 11H 11 11 11
Int Paper pf 48)$ 4S 47)$ 47)$
W 101 LUO uip ...-IS IWi 48 48
, i Mini v 1 crs 48
Int M M pf cof dp... 20
Int MM pf cof dp.,, 73H
Jewel Tea 95
Kan City Southern. . . . 25J$
Kellp Spg Tire 74
Kennecott Copper..,,. 57H
Lack Steel Co 771f
lacieos uas... 103$ IOI
Lehigh Valley. ., . ..... 77 77)1
Lea Hubber Tlra...... 61$ 52$
Loose-WUea Biscuit.... 10H 16$
K0036.W 013 sa pr, . . , 51) 51
iLormaro r co pi , ..iiok 110)1 110)1 11931
AW Wish ,.123$ 124$ 124)$ 124)$
acuaywos. 711 7U 70$ 70)$
aiHI Motors., 72)$ 74 72M 73)j
ist pi.... t&u eo 80$ 80
OiH
48H
20)1
74H
05)$
26
75$
8
77)1
48)1
18)$
73)$
92
26
74
57)1
77)$
103)$ 103)$
77)$ 77$
51)$ 52)$
16)$ 16)$
51 51
48)1
19)1
73M
9231
20
75)$
67)1
77)$
67),'
.65
56)1 573$
65 65
mi mis
Hl
Peoples (Jan ChU ,on$ KJlVf 101
niiiaueipcia L, 44 41;
Qulckullvpr. ..: 3).$ 3
Itay Con Copper 211$ 4)1
"oadlnc R.l$ S0)$
IteaUlnK2dpf 14)$ 4131
Itepubllc Iron & S.... fluj am
Jtock Island $ jj
liock Island pf aj ;j
St Louis & S K 051 -nt
St L & S F 2d pf ;t H3
Seaboard .'.Ir Line fll$ i.ivj
Seatisanl Air Lino pf . . 35)$ 30)1
Shut Ariz Cop ;jo ;;r,Vj
Sloss-Shef S & I f,o 50
South Porto It Sug.... 209 210
Southern Pacific 03 OS'l
Southern Ky 20W 20)$
Standard Milling pf. . 89 87
Studebaker Co 143JI 145
Tenn Copper 53)1 53K
Texas Pacific 8 8)$
Texas Co 10031 197
Texas Co rhhti 18 18
Union Bag & Paper... 73$ 7)1
Union Bag & P pf. ... 3ij$ 31
Unltod Cigar Stores... 04 91
Unitod Cigar Mfrs..,. 02 02
United Cigar Mfrs pf.,1093$ 110
Union Pacific 133)1 j;u
Union Pacific pf S3 8231
United Fruit 149 140)1
U b mil Alcohol 101 104H 102
U S Ind Alcohol pf,...101)S 103)$ 108
44
3
21
853$
411
51)$
H
H
23$
33$
15)$
30
30
50
208J$
0S)1
203$
87
104
4431
3
2t
80
4131
51!$
USCll'i F 22$
Un Itys Inv Co pf. ... 30
U S Itubbor 52
U S Steel Corpn 85$
U S Stoel Corpn pf . . . . 1 lfl
U SSm It &M 09
Utah Securities 17J$
Utah Coppor 81)$
Wabash 15
Wabash pf A 40)j
Wabash pf 11 28
West K & M 05)$
Western Maryland 32)$
West Maryland pf 48)$
West Union Tel 00)$
Wheel & Lako Erin.... 23$
Willys Overland 237
Willys O pf s r f D....101
Woolworth F W 124$ 125
Quoted ex dividend.
1!1
30
53'f
K5)$
117
0S)$
17H
8211
15)1
4031
28)1
00)1
323$
48H
00)$
2)1
239
23$
33$
15'$
:ioi
31:
50
210
9S)$
2I)1!
87
142)1 14231
53)$ 53H
8 8)$
10CH 190)$
17)$ 18 t
0)1 0)1
28 28
03H 93)$
02 02
110 110
1333$ 133)$
82)1 82)1
148)$ 149
1023$
10S)$
2H1 2131
29)1 29K
5231 5331
h..l 853$
1103$ 117
07!$ 07J$
17)$ 173$
81
15
46)$
27!$
05)1
3U$
47)$
1)03$
231
30
1043$ 101)1 104)$
124)$ 124)$
823$
15)1
46)$
28)$
00
323$
483$
00)$
2)1
230
Berkshire Furnace to Open
RIIADIKO, Pa., April 6. In two weeks
the Berkshire Iron Works, at Sheridan,
will blow In its furnace This plant was
closed three years ago. A largo amount
of money was expended In giving the plant
a general overhauling. When running
full tho capacity of the furnace was 700
tons of pig iron per week. Attention will
be given to the making of forromanganese.
Before the war much of It was Imported
from Germany. Tho plant will havo from
120 to ISO employes.
LIVE STOCK QUOTATIONS
CHICAGO, April 0. IIOU3 Receipts. OOOOt
market, 10c. hlstaeri mixed und butchers. S9.S0
l).80: good Iisavy, .030.85: rouih heavy
blW?To:0,8s! ,tf-409',,0 "' &
CATTLE Receipts. S000; market. 10 10c.
hlxher: Uneven. JT. 40010; cows and bellers.
iS.UO8.00i utockers uud feeder. IU.40fllb.S0:
Texans. j7.25as.BO; calves, 17.2308.1:5. '
SHKBH Heeelpu, 14,000: market strong:
nativu and Western, SQ9.15i lambs. I8.75&
11.40.
I.KG.VL. ADVEBXISEMENTS
KSN0T1CE IS IIEHEUV OIVEV THAT
tha aDDlictlon of Xfarrv v. tvti.
detective license will bo heard la Room 270
City 1U1). Philadelphia.
J 8 1(1. at 10, a. m.
BCTOBrOK ACCOUNTANTS
UMOuUnU
0 Oil N V Tr n .IU no
noon Norf & Went in tiH-H
7000 Nor I'ne rrlor 4n... 0.1
anoo Oro Short I. rof 4i.. oil
MIDI) Purine Tel Kb lOOU
1000 IVnnit rn 44b lO.IH
7000 IVnnn 434b 10S1...1O2U
lnoo l'eo & Kant 1st 4n.. 00
HiOO ltonilliiB koii 4s OIH
7000 Hep Ir A a As ooti
1(100 ltork Island 4s so
IIOOO Itorlc Inlonil rM Ji UMl:
2000 Hoclt Islnnd lis 102
1000 Ht Louis Swn 1st 4s. 7SVi
.10(10 Houlh Hell .Is loo',
411100 South l'ac cv 4n. .. SH
loon do cv ret t n ns..loii 1044
.000 Sooth Hwv iron J. Toli. TuL
nnim Un..,i. it ...- r .....,f ...n.7
...... :. .' "i t-uii tn , ,i. ill.
110
IMS
u;t
0.1
loo 4
1034
102 W
oo
04
nou
NO
08 U
102.
7SH
loot.
UN
mi
no's
n.i
n.i
lor. k
102(4
no
04 ;
poI
(M
nsVi
102
7H14
1004
SH
104 Ji
7(1 5
102 15
.ii.r.i. u...t. ,,...t. ... .1 ..77 '... if
looo Toxns Co Os lo.-.i? lor.i; inAi?
no;; Third Avo mil 5s .. hiU siti JH,t
040(10 Toklo .is 78l, 78(1 78ti
100(1 tr H lluMior I! 102t; ins.) 102'
11(1011 IT H Stl OS sf ... ll)l ioifi l
; 000 Union I'nn rv .In .11.4 II I 4 ' 4 1?
IKl'i Hll'4 lllltt
lotjl loi nil?
OHti (mU ouk
02 112
lll! fil'
BUSINESS IS ONLY FAIR
ON THE COTTON EXCHANGE
South Buys Near Months', Big Option
Takes Late Options
NBW YOIIK, April S. At tho openlne;
on tho Cotton Kxchanico this mornlntr
buslncps was only fair. Southern Inter
ests were buyers of the near months, with
ono prominent operator taking the Into
options. Tho supply came from Wall
street houses and scattered sources. Prices
wore 2 to 6 points there, but the tone held
steady. After the call there was con
tinued purchases of May by the Koulh,
but pressure was noted In this option and
this Is expected to contlnuo until the first
nollco day, April 2B.
Tho market steadied up 4 or 5 points
rlR-lit after tho opening, but near month
liquidation continued and prices cased off
again during the middle of tho morning.
Thero seemed to be somo Wall street
liquidation of both July and May, and
tho old crop months sold nbout 8 points
under last night's closing flgu'res, while
new crop deliveries worked 3 to 5 points
not lower. Itcports from Oalveston claimed
that 25 steamers had been booked for
April-May shipment.
Muring the mlddlo of tho day tho mar
ket was qulot, but held steady with new
crop deliveries working back to about last
nights closing figures on scattered cov
ering. In Liverpool tho market started com
paratively steady, but cased later and nl
tho tlmo of the start here prices were nbout
3 points higher. They wero duo to como
half lower, to l higher. 1'rlvato cables
stated that ho market had a poor under
tone, with Ultlo or no buying power In
evidence.
Yes. closi. Oopn.
II. NS 11.711
It iS 11 01
12 OH 12.01
12.22 12 22
12.31 12.27
12.11 12 35
Sales in Philadelphia
Msy
.itiiy
October
December
.Innunry ,
Marrh . .
11 n.m. 12 m. B p.m.
11.70
11.01 11.02 11.08
12.03 12.03 12.12
12.21
12.211 12.21) 12.34
12.31
Liverpool Cotton
MVtiRI'OOIi, April 5. Spot cotton to
day was quiet, nt n decllno of 7 points,
on tho bnols of T.GSil. for mld-uplnnd.
Tho sales nggreg.itcd C000 bales, Including
1000 bales American. Tho Imports were
13,000 bales, Including 7000 bales Ameri
can. The morkot for futures closed easy
nt u net decllno of 4 to fi'.i points.
iiooii Union I'nc rfd 4a
mini wnnasn 1st os
2IIOO Walmsh '2d (Is .
l i w-r T 1st ct Is t pd .12
200(1 West Unl-m m,s ... nr.it
r.UOU West Union ,'is ....1004 100?I 100i
Financial Briefs
n
Tho meeting of the Stato Bank of Phila
delphia to elect directors, etc., which was
to have been held yesterday, has been
Indefinitely postponed.
At tho nnnual meeting of Cities Service
Company of .Vcw York, C5. S. Dovln, of
Kills & Co.. London, ICng., nnd Wntson
11. ltoblnson nnd K. II. Johnson, of New
York, wore elected directors, taking tho
places of William II. Joyce, of Now York,
and William J. Henderson and Lawrenco
MncFarland, of Montreal,
Tho Listing Committee of the Now York
Curb Market Association rules that tho
stock of tho Hecla Mining Company shall
sell cx-divldend at 10c. today. Tho dlyl
(lend Is payablo to holders of record
.tiarcn si.
Tho Guaranty Trust Company of New
York la now prepared to exchange the
temporary stock certificates of the Cuba
Cano Hugar Corporation preferred and
common stocks for engraved permanent
certificates.
Tho Now York Subtrcasury lost $115,.
000 to tho banks yesterday, reducing tho
cash net gains slnco Friday to $5,159,000,
Konnott M. Coolbaugh has been an-
pointed manager of tho statistical depart
ment of Wlstar & Stokes.
Tho Hoard of Representatives of tho
Now York Curb Market Association has
listed and nUmlttcd to quotation the JS100,
000 capital shares of tho Oklahoma Pro
ducing and Hollaing Company, of a par
value of J5. The transfer agency Is tho
Bankers' Trust Company nnd tho registrar
is tho Liberty National Bank.
February gross earnings of tho New
York Railways nmounted to $1,040,676, an
Incrcaso of $58,195 over tho corresponding
month last year. Net earnings wero
$277,322, nn Increase of $29,051 over those
of tho same month In 1915.
City Controller William A. Prendcr
gast, of Now York, will receive sealed bids
at his oflico In tho municipal building un
til 2 p. m. April 19 for $10,000,000 4i
per cent, corporate stock, payablo April
1, 1906, and $15,000,000 44 per cent, cor
porate Btock, maturing serially from April
1, 1917, to April 1, 1931. Inclusive. The
latter class will be sold only In series.
Separato proposals must be mado for each
class.
New du Pont Powder Magazine
BALTIMORE. Md., April 5. Engineers
of tho du Pont Company are In Baltimore
planning the erection of a big storage
magazine near the city. Tho company has
one on tho Annapolis road near Mount
Wlnans, but that Is not large ennutrh.
The new one wll be located on tho Phlla- I
lnliililn rnnrl Tien,- TTafrlni T),,. nn.l in I
... ...... ... ... .. .,1411, Ull.l un
establishment hero Is probably duo to tho
company's largo war orders with both the
Poole Engineering Company and tho Bart-lett-Hayward
Company.
NEW YOIIK CURB
lNDUSTUIAt.3.
nisnilohr
do pref
Otis fllovntor
Standard Motors . .
World Film
(Inntmi Wllllnms
Aetna tYploslvcs
Am. Ilrltlsh
AJnx Hubber Inc w 1
Atl Gulf A V I H H
do rrcf . . .
Cnnndtnn Car & Kdry
do tircf
Chevrolet Motorcar
Drlttxs-Heabury
Marconi
Haskell & Ilarkcr Cnr
Mcmleo Mis: 2.i
Inter Mcr Mnr tsa4
do pref , . . 72
Knthodlon Ilronzo ntd 20
llmcrsou Phnno 12ii
Manhattan Trnnnlt 14
Mnxlm Munition
Mldvaln Steel
l'ecrless Motor
l'oole rime & Mnch
St Joseph I-end
S 8 Kresco w 1
Submarine lit v t o rtfa.
Trlnmd" Film v t etfa...
United Profit KharlnK ....
U H LlKht & Heat
do pivf
White Motors w I
Cosden
STANDARD OH.
Ills
Ohio Oil
S o nt California . . .
S (I of New Jersey . . .
S O of New York . . .
Inter Pet
Sapulpa
OTIIKR OIL STOCKB.
Chalmers Oil T
Houston Oil 17
Midwest Hullnlnic OlH
MININO STOCKS.
Atlanta 14H
Ccrro do Pasco 30
llutto c & 7. v t ctrs KU
Ilutto & N Y a
First National Copper dti
Ooldfleld Meruer If,
Hecla MlnlnK 4T
Jim llutler tl.'i
Jumbo Kxtcuslon 70
Macm.i Cooper 11 Yi
McKlnley-DnrriiKh 43
Mines of America .1
Ntplsnlni? Mines Co 7U
San Toy 17H
West i:nd Consolidated..., 70
Ken Zlnz 13 It
1JOND3.
Cerro lis 117
U Hi O 3s 074
.Mldvaln Os Ii5h
.Sulzberger Os 0'.M
Hid. Asked.
. . 01 nil
. . 08i 101
.ji: .v,
...IK ,l4
?." VI
:! !.- 2?.
. on no;
.ilj-j :i2fi
. IS 4!lVj
. or. 7i)
. (v.' s:
.IK I IN.',
.Kill 14(1,
. 42 I2vj
00 'i
. 211
,nr,
. io"l
. 12 Ji
. 31. i
.1 i
l'i
0
I'4
r.o'i
liiH
SUIISIDIAItlKS
17(1
.'.'.'.'.'.'.'.'.'iSo
.Mil
200
1211
11
2S
lli
7ll
30
II 4
0(1 ",
20 li
12.-i
1114
12.
30 Ml
.111,
i-'.V
lB
M
20(4
177
221
2.1.1
017
212
12i
1114
a
Hi
0314
1514
411
H'4
aii
n
17
r.
UK
HI
17
43HU
iJlS
711
134
lift
074
!lll4
100
LONDON STOCK MARKET
Business Light nnd Shares Inclined to
Sag, Due to New Budget
LONDON. April 5. Business securities
on the .Stock Exchange wero light today
and tho markets generally wero inclined to
sag. Tho city was digesting tho budget.
There was no feature to tho gllt-cdgod
section. Tho Increaae In direct taxation
was criticised. Thero was a keen demand
for short-dated treasury bills, owing to
tho easiness In money.
Tho estimates that tho revenue of the
United Kingdom for the now fiscal year
would reach 502,000.000 were approved
as demonstrating the financial stability of
tho nation. About 5,100,000 was dis
bursed in dividends on high-class laaues
today.
The American group was Irregular, but
changes In prices wore small. Canadians
wero steady, but homo rails were dull.
Argentine rails wero confused on earnings.
13G.853 Bales of Cotton Shipped
WASHINGTON. April 5. According to
a report Issued by the Department of
Commerce today cotton exported during
tho week ending April 1 at tho 12 prin
cipal customs districts of the United States
was 136.853 bales. This makes a total
slnco August 1 of approximately 3,968,535
bales. Exports of cotton for tho corre
sponding period of last year were, re
spectively 239,293 bales and 6,741,513.
REPORT OF
Philadelphia Trust Gompany
At the Close of Business March 30, 1916.
RESOURCES
Cash on Hand and in Bank.' $6,512,117.60
Loans upon Collateral
Investment Securities Owned .....
Real Estate, Furniture and Fixtures .
v
. 10,698,791.53
. 8.712,965.81
616,429,72
$26,840,304.66
LIABILITIES
Capital Stock $1,000,000.00
Surplus .....,.,
Undivided Profits
Deposits
Net Accrued Items Payab
4,000,000.00
9(19f9 13,07
0,377.73
13.86
-f-t
$26,540,304.66
Trust Funds . . .1 .'$11 8,294,705.10
Corporate Trusts 105,182,000.00
?fttffftt
2L3
'
THOMAS S. GATES
Pretident
HENRY G. BRENGLE
Treasurer
. . Tes. close
10 Am rtlws-s 30
12 . rto pref fio'4
020 Hurt Hu t c 40
.30 Ao pivf .... 00
. 110 nice StorK.. 02
00 Krle 301
10 den Anph pref 71 '
S2 Ins Co N Am. 20
12.1 Kenne Cop .. 07 H
Ml Key T u pref. 70.
285 I,nkfl Bup Corp 10
IBS lhlrh Nav. .. 7BU
8 Lchlfth Vnl . . 77
10 lii vnl Tr. . 2214
, R Mln'hlll r,0H
12." Nnrlh rvnt . . ss
SO North lVnna.. 01
100 Nevada Cons. 171
,40 Norf fc Wrt..'.'2
120.1 l'enna 11 It... riOft
2.1 la Butt Mfn.ioi
fi Pn Rtf.l t,r,l. til
(i.i l'nna t;o . . , .
21!? .''!' c,im I'M-
010 1 It T t c
10 Itendlnir
3440 Tonopnh He!..
140 Tonopah Mln. .
2 union Trnc . .
157 If o I
p. r a 8tpji
10(1 y s- Y A l'B.
.1 Wnr'h I A H.
40 IVestmrlml el.
Ida Wm Cramp ..
on" inrK llwy
, fid (10 pfd .
Ill
2:10
t,ow. P. M.
t
S.14 8SV
00H
14 !
4-1.
27 Ji
18
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?,
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70,
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87 i
"'.
17T4
122.
lillik 101
IIS 08
44 i 14 4
434 I3t
27i 27H
ml: iu(&
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4(1 i
(MJ
01 1.4
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074
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io
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774
22 4
874
03.4
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007
4'' u-in 4 is-inW".
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07
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8814
8.1 i
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304
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8314
11
10H
no U
81
11i
30-i
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474
11U
01H
3'-
71 '4
2.1 M
07
70
pi
.17i4
lol
IIS,
44 i
434
274
1R4
8.1
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8:i
.1(1 a
LEHIGH VALLEY SELLS BONDS;
PROCEEDS FOR NEW EQUIPMENT
Sale of $10,697,000 PAs First Financing Since Latter
Part of 1913 Philadelphia Company Increases Divi
dendNew Interests After Cramp's
.Announcement was made today by the 1 On tho Now York Curb, after tho clo
i',X "A, ;r". .y. Julroaa 01 ,'no naie or yesterday, tho stock sold for 83 14, Up 1U
$10.697.000 '('J per cent, bonds, maturing from tho closo of yesterday. Today on
ltONDfl.
I.nat prcv.
J2.100 Am II Rt tie bW "W- Vi?1H
000(1 HI A 1'on T 4 82 HI 81
..HK' ' " ' P 0n" Re.lOM 100. 10(1
liqoo linrr'n lirln n nil od'4 nil
3000 , Nv en 44.102ji 102; 102 'i
Oil 00 I. Vnl iron J u-ll. n-4ll tint.
100(1 I, Vnl rcf.ru. 112 !I2 112)5 H2(I
Vlffi la Co IT 4 W.. 102 J 102 (J 102 I 102
lon h Co 1st r.a.iot, nil HUH 101(4
4000 l'hlla. KIpo r,a. 104 104 104 101
2:40
p.m.
H3 Vj
81
loil
1024
P.1
iimiiiii in iiy mv ia. ,aa4
2000 York Hy 1st C 0.1
1
0.1 ;
W
0.1 4
!J3
03'
FOREIGN EXCHANGE
XP.W YOIIIC, April 5. Tho market for
foreign exchatiRO opened quiet nnd some
what IrrcRular. Ktcrllng was virtually
unchanged nt 4.70 7-16 for demand nnd
1.77 for cables. The' Usual preliminary
quotations on Itnllnn lire wero not avail
nblo this morning. Owlns to tho erratic
movements In this class of oxchnngo lately
ono of the few largo operntors who quolo
lire was unwilling to make any rntos. It
will ho recalled that last week, on a. sln
glo day, thero wero counter-movemonts
In Italian exchange of 30 to 35 nolnts.
This waB due to 11 special demand nt the
time nnd, after the order was filled, tho
rato reacted back to the low point. As
a rule, few bankers In this city hold any.
largo Italian bnlances.
Thero was a further display of strength
In guilders and In Scandinavian exchange.
The last-inenlloncd wns quoted nt 29.50
nnd 29.00, or 10 points tihovo Tuesday's
higher figure Itelchsmarks showed steadi
ness and Vienna ruled very quiet. Span
ish exchange was one of the firm features.
Tho stability of sterling around tho cur
rent level Is generally understood to bo
duo to tho operations by large Interna
tional hankers. The rato Is not allowed to
decllno appreciably from around 4.7G5D
4.70 14, nnd, on tho other hnnd, It Is held
from rising, on occasion, by largo sales of
exchango for account of ono of our most
prominent bnnltlng houses.
Quotations follow: Demand sterling,
4.70 7-10; cables, 1.77; franc cables,
5.97 ! checks, 5.98; relchsmarlts, 72 11-10
nnd 72(& : Swiss cables, E.19M and G.28(i :
Vienna. 12.34 nnd 12.30; Stockholm, 29.50
nnd 29.00; pesetas, 19.30 nnd 19.33; guild
ers, 42 13-10 nnd I278; rubles, 31.10 and
31.45.
May 1, 2003. The bonds are Issued Un
der the company b consolidated mortgage,
dated September 30, 1903. This Is tho
first financing done by tho railroad since
tne latter part of 1913.
Tho proceeds from tho sale of tho bonds,
which wero sold to Urexcl & Company,
will be Used for the purchase of addition
al locomotives, Rtccl passenger cars and
freight equipment, nnd for terminal nnd
other Improvements now under construc
tion or In contemplation.
Tho Philadelphia Company directors, nt
their meeting in l'lttsburgh, as wns fore
cast In this column on Monday, increased
the dividend on tho common stock by de
claring l?i per cent. This Is nn Incrcaso
of !i of 1 per cent, quarterly, and places
the stock on n 7 per cent, annual basis.
Tho dividend Is payable May 1 to stock of
record April 15. In tho afternoon tho
stock sold up l.
Tho financial district heard today that
now Interests nro nfter tho Crnmp Ship
building Company. This report gained
circulation through tho fact that there
was n bid for 1000 shares of tho com
pany's stock In Now York nt 81, compared
with last nlght'n closing price of 82V. It
was said hero that brokers who Usually
act for the company nnd others who net
for peoplo Interested In tho company did
not make the bid.
me nrsi transaction on the Philadelphia.
Stock Exchange, which was two shares,
the stock declined 1H. later selling up to
83, nn advance of y. Trading In tha stock
was not heavy, however.
At the present time Cramp's Is working
at full capacity, nnd It Is understood that
tho company la hooked two years ahead,
or to the mlddlo of 1918. Contracts now
on hnnd Include four warships for the
Government and 10 merchantmen. Thero
Is talk that It will bo necessary to enlarge
tho plant In order to tnko care of the
business.
Thero were several Items of Interest In
tho trndlng on the Ipcal Stock Exchange
today. Another new high record was es
tablished by DufTnlo nnd Susquehanna
common. 47?l, nn advance of l',t, Mlno
hlll nnd Schuylkill Haven reached the ,
lilgho.it point of tho year at 57. as did
York Hallways at 114. One of the most
active Issues was Pennsylvania Ilallrond,
which advanced In sympathy with the up
ward move In Wall Street. Tho majority
of tho prlco movements wero toward high
er levels. During tho morning Tonopah
Uelmont was quite ncttvo, but In the
.afternoon thero was not much doing In
that Issuo. In the bond division United
Hallways Investment 5s wero tho most
active, $70,000 changing hands by 2 o'clock
at a small advance.
NEW YORK UUTTER AND EGGS
RATES FOR MONEY
full.
Now York l?i((?2
Philadelphia 1 3(4
Ilnnton 11
Chtrnen nH,Hi
Commercial paper. .1 to 0 months. I'hlluOol'
phla, ;Ku.l',i per cent.
Tlm.
SV3H
3 dpi
4 6J44
4 (all5
RANK CLEARINGS
Hank cloarliiKS toilay compared with corre
Bpnntllmr Uny laxt two ycarx:
101(1. HUB. 1014.
l'hllatl.i. ..141.(12.1,011 I25.4H3.772 t31.liH2.lM
lloston ... i:i.(K)l.(IS2 28.3r,r,,023 2.1,804.0.17
Now Vork.. 4 18,238,538 320,11)1,108 341.741,300
BAR SILVER
In London bar silver today was quoted at
20 Nil., a ili-cllno of 1-lOd.
Commercial bar silver In New York was
(luotcd nt HlNc. a decline of He.
NKW YOIIK. April 0. butter Market
slUhtly easier Itecclpls. 0321 nacitafrcs. Kx
tra creamery. 3737Hc. : hlirher scorlnsr.
creamery, 2S'i30c.
IIOOM Market very firm for all nrades.
Demand chiefly for current use. Moderate
spfcuUtlve Interest. Receipts. 33,0.13 cases,
lixlra firsts. 22,ic.; nrsts. 20)i Ri'.2c.: whlto
C8KS. 25W20C.1 brown eggs. 234 W24(4c. ;
mixed color, 21'4Cj23c. : rctrlxerator beat.
22W22WC.
DIVIDENDS DECLARED
(lenernl Motors Company, quarterly of fi p-r
cent, on common: nlso semiannual cf 3(4 l"r
cent, on preferred.
American I.lsht ami Traction Company, reg
ular quarterly of 24 per cent. In cash and
24 per cent. In common stock on common
ntock, and 14 per cent, on preferred stock,
nil payablo May 1 to stock of record April 15.
Sapulpa Helming Company, resular 2W pt
cent, quarterly on tho preferred stock, nnd 1 M
per cont. monthly on the common, both pay
able May t to ntock of record April 20.
Tncony Trust Company, regular semiannual
dividend of 7 per cent., payable May 1 to slock
uf record April in.
Finance Company of Pennsylvania, usual
quarterly of tl.BO a share regular nnd 25 eenta
pjttra on tho second preferred stock, payable
May 1 to stockholders of record April 10.
NEW YORK COFFEE MARKET
NEW YoniC, April 0. Tho coffee mar
ket opened dull with bid prices unchanged
to 3 points higher. Thero wero no Bales
on tho opening call.
Tho world's visible supply decreased
392,750 bags during tho month of March,
against n decrcaso for tho cams month
last year of 357,992 bags. Tho total on
April 1 was 8,948,968 bags, against 9,84.6,
281 bags a year ngo.
Today's Yesterday's
March . . .
April
May ,
Juno
July
August . . ,
September
October . . ,
November .
December
January ..
February .
Hid.
osenlng. ctose
8.50 S.508.t
8.07(98.00
8.1308.14 fl.15U8.lfl
'8.18 8.2098.21
8.2208.24 8.2408.25
8.2898.30
8.81 8..1.1W8.3.-,
8.35 8.378.38
H.4K28.42
8.43 8.4408.4B
8.40&8.B1
8.4308.40
In Southern "ZM.
oer V-
i
Southern
"TUtilities,
IsfHVIort JG Bonds
JJac April, 1933
mmmmmi
SINKING FUND BONDS
The meaning and operation of a Sinking Fund is clearly
described in our
APRIL BOND CIRCULAR
in which, with t many other attractive investments, are several
bond issues which embody this important feature. The income
from the securities offered ranges from
4.55 to 6 Y2
FREE OF TAXES IN PENNSYLVANIA
The Circular tvill bo furnished on request.
1W&R5 &MLTftl&
BANKERS
,
f
Established 1892
Members New York and Philadelphia Stock Exchanges
Broad and Chb3tnut Sts., Philadelphia
30 Pine Stheet, New York
CAPITAL, AUTHORIZED
$1,000,000
PAID IN, $916,900
T ANGER from theft, fire or
eliminated when valuable Par
Stocks or Silverware are placed ;
Department.
LOGAN TRUST
OF PHILADE1
1431 CHESTNUT
SURPLUS AND
Undivided; profits
9380,000
lisplaccment is
. Deeds. Bonds,
our Safe Deposit
:ompaNy
lAi
STREET
ROWLAND COMLY
1'reaidcnt
WILLIAM BRADWAY
Treasurer
Commercial Trust Company
City Hall Square
Report to the Commissioner of Banking, March 30, 1916.
ippfi;
RESOURCES
Loans, Demand and Time $11,552,905.57
3,981,954.79
S
Corporate Notes , . . . . j
Securities
Due from Banks and Cash ....
Miscellaneous Resources
6,556,194.94
7,596,496.97
929,779.20
$30,617,331.47
LIABILITIES
Deposits $27,841,212.02
Capital 1,000,000.00
Surplus 1,500,000.00
Undivided Profits 276,119.45
$30,617,331.47
Corporate Trusts $257,160,50Q.00-:
Personal Trusts 11,627,675.21
Thomat DeWItt Cuylor, President
John H. Maon, Vice-President C. P. Lineaweaver, Vice-President
H. W. Stehfeit, Treasurer
Samuel A, Croier, Secretary Mark WHlcox, Assistant Treasurer
Henry C. Gibion, Assistant Secretary
H. W. Diddle
C. Stuart Patterson
Horatio G. Lloyd
J. R. McAllister
Charlemagne Tower
John H, Mason
John Cadwalader
Clement B, Newbold
Seward Prosser
Directors
Thomas DeWitt Cuyler
Samuel Rea
Samuel T. Bodtna
Robert K. Cassatt
Morris L. Clothier
William M. Barrett
E. W. Clark
L. E. Johnson
William H. Barnes
Arthur E. Newbold
Sidney F. Tyler
Henry Tatnall
William C. Sproul
Charlton Yarnall
John P. Croier
Howard S. Graham
Harry A. Berwlnd
Caspar W. Morris