EVENING LEDGER-PHILADELPHIA, TENTHS!)!
14
i
APRIL G, 1916
FINANCIAL NEWS
LONG POSITION TAKEN IN MARKET;
RAILS BOUGHT IN LARGE BLOCKS
Defeat of La Follette in Wisconsin Primaries Regarded
With Much Importance in High Financial Circles.
Great Pressure of Money for Investment
High Points in Today's Financial News
Understood that extra dividend wilt be declared on International
Nickel at directors' meeting May 1. Dividend of 12 1-2 per cent, declared
by Deutsche Bank of Berlin for the pear 1015, againit 10 per cent. in.
l91i. IngersolURand Company declared SO per cent, in cash and 20 per
tent, in stock on the common shares. Bar silver liiahcr in New York and
London. Many favotabte railroad earnings. Another new top mark for
Buffalo and Susquehanna common. Work started by Board of Super'
(visors of San Francisco on plan to purchase by the city all sttcct railway
I lines.
i m;w tomKi April t
i Tlicro nrc two Incentive? for tnltlnR a Ions position 111 the stuck market todaj-.
Tho most Important in the minds at conservative Ititorrsti wits tlio defeat of L.i
Folletto In the Wisconsin primaries jestcrday. Till polllcal iloxclopmiMit vmi
regarded In IiIrIi circles with far more Importance- than was nttnclied to II by
! tho speculative element and was reflected by the pnrclino of some l.irRe blocks
of railroad stocks. C. D. Xlarncy R. Co. were about the heaviest lmvcrs of St.
Paul, Atchison nnd Heading, but there were many buying orders In other stocks
at prico limits, which will increase tho supply and penult put chase? at con
cessions. As far as Wall street Is concerned, nothing Is In the speculative field to iti-
, dlcate that tho traders and commission house clients comprehend that this Is
a presidential car and that developments from day to day until the conven
tions arc held mean more to the mass of ccurltles than any points on special
ties or stories of Increased war orders. The mniket Is rlRht for n favotablo Influ
ence from tho pre-campalRn actions.
Money Is comlnR back to this city In larpe volume and bankers arc already
prcsslnR available funds at concessions without llndiiiR borrow cim. How Riiat the
pressure for investment Is may be mcnsuicd by the fact that the $75,000,000 Can
adian Government bonds, placed at subscription less than two weeks iro, arc
already selling at substantial premiums. The last note Issue, that of tho Ginco
Steamship Company, which was offered a couple of das iro, was snapped up
as soon ns it appeared.
In tho specialties the feature was the advance In Industrial Alcohol to 17014.
Tho Marine Issues had a Held of their own. There was persistent buying of both
classes of stock at advnnclnR prices throughout the day, but the reasons for ac
cumulating the preferred and common stocks weio dhectly opposite. Purchasers
of tho preferred stock were based on an Idea that the tcorganliullon plan, pub
lished jesterday, settled all the dlffcienccs between the secuilty holders. It can
bo stated positively, however, that the common sockholders and tho bondholders'
committees express positive opposition to this plan.
New York Stock Sales
pf
Talk of Extra Dividend for International Nickel
NEW YORK, April C A substantial extra dividend In addition to the regular
quarterly payment of B per cent, will, It Is understood, bo declared on tho com
mon stock by the International Nickel directors at their meeting Mnv 1. For
tho 191G fiscal yenr the International Nickel has so far paid tlneo quarterly divi
dends of C per cent, each, or 15 per cent., and an extra dividend of 10 per cent. In
stock, which is selling nt about 220. was equivalent to over 20 per cent, nt least
In other words, International Nickel common shareholders have received so
far for the last fiscal year the equivalent of 35 per cent, in dividends.
, Deutsche Bank of Berlin Declares Larger Dividend
NEW YORK. April 6. At tho hoard meeting of the Deutsche Hank of Betlln
a dividend of 12U, per cent, for the year 1015 was declined, against 10 per cent.
ior uii ncsiues, i2.ioo.ooo marks were carried forward to new account The
open reserves of the bank, which has a capacity of 250.000 000 marks, now raise
to 180.000,000 marks nnd the deposits reach a figure of 2.500,000.000 marks Tho
1 quotation of the shares Is 215 per cent.
Benin Work on Plan to Buy Frisco Street Railway Sjstcm
SAN rHANCISCO, April 6. Tho Hoard of Supcrvlsots today began work on
a plan for the puichase by the city of the entire street railway system. This action
is being taken in response to a declaration by .Tcse W Llltenthal, president of
tho United Railroads, that his company is prepared to consider suih an offer.
Mr. Lillenthai said that to bo a success n railroad company must have a monopoly
and not, as at present, compete with city-owned lines.
-MARINE COMMON
IN GREAT DEMAND
Moderate Trading in Hall Sig
nal in Curb Market to
Acquire Control
NEW YORK, April 6 Outside of trad
lng In Marine common undeposited stock,
which sold at 20 to 22"-.,, there was
virtually nothing of Importance In the
curb market throughout the day There
were the usual variations of prlco within
recently fixed limits on both Cuba Cane
Sugar and Mldvale Steel Cuba Cnna
Sugar ranged from 65 v, to 66, and
Mldvate Steel swung fractionally around
66.
There was moderate trading in the
Hall Signal, with tho bulng consisting
of accumulation for the purpose of ac.
quiring control, but most of tho floating
stock had already been absorbed before
the price crossed 16 Some of the big
stocks remained active and strong, with
Keneflck Zinc moving up only 1 point.
Anaconda has taken up the Butto Cop
per and Zinc treasury stock and paid for
It under the option agreement, and ex
tension and Improvements on that prop
erty are making rapid progress Atlantic
Oulf and West Indies ranged nbove 33.
There was nothing exciting about tho
trading In Aetna Explosives, which Is In
supply, and traded off from 2." to ;i4
The New York City 4 Us, to foe subscribed
for on April IS, were traded In at 102 "
and 202i,
Holly Sugar advanced from Hl,i to 49,
11 probably on manipulative orders.
INDUSTRIALS.
D,1 Asked
American Marconi au js
Amerlcan-ftrltlsh Tobacco Is 2H
Aetna Explosives -J1H '
AJax Rubher Inc w 1 ll'i 711 1,
AU Oulf & VV I 8 8 3J4 3iiJ
do pref 4t -I '1
Canadian Car Fay tlj mi
do prjif 8 j HH
Cuua Cane Suear inW ovs,
1 Curtlas Aeroplane in nil
j j-twYrow Motor car U4 111
DrtXES-Seabunr J3d u
Rmerion FhonosTapn 12 t:u
Klstnlohr si mi
: do pref 8H 101
Ha.keTl Ilarker Car ... -I.'" 4JH
Hendee MfB i'V (
Inter Mer Marine 21 a.
do pref 711 771,
Katbodlon Ilronze pfd SU 30
Manhattan Transit iVx 3M
Maxim Munition SU hi?
Mldiale Steel CHlJ lull!
otu Elevator :..:;::: m4 us
Peerless Motor , 211 jnii
Poole En & Much 120 lj
Standard Motors 811 M.
H B Kresge w 1 . , 12 ij j, sj
I Submarine lloat v t c ctfs 311 am;
Trlanxle Film v t ctfs . , 31. 3'1
uiiii 4 1 v' tiua iiik ..... x ym 1 ,4
U 8 Light & Heat 34 ai
U 8 LJaht Heat pref 4 al
White Motors w 1, 50(4 soar
World Film Hi iJ
STANDARD OIL SUBSIDIARIES
Prairie ripe .. . , 220 223
'Illinois . . 17H Ull
LHtanaard yil of calllornla., 2 IS 211
Standard Oil of New Jersey. . ..512 51.1
-Qianoara un at new vorx . . 200 212
OTHER OIL faTOCKS.
5, Cbalnwra Oil ,,..,,..,.,, 5 8
Heustoq Oil ,,. IT la
Sapulpa ,..,,.., 11U ll
Mldnest Reflnlnc ,. .,.,......., 03H OilS
Inter Pet ...I:... lag 13
? MINING STOCKS
! Atlanta . 13H 14
j Cerro. , 3H 31V,
b J)utt c & z v etfs , uli a
f IluttNY 1 3 s
u First National Capper ,. 0 OK
f. JoldlleId Mercer J3 J5
U llefla lllnltut 4 4
' Hom Bound S 0
J Ira Butler ... 6 07
f Jumbo Extension . . . , . . . TO 60
f Kennecott Copper IT 17H'
t lIcKlnley-Darraib 41 48
NlElsaliuc Mlnea Co T.i Tn
Ban Toy IT. 18.,
St Jog.t-ua 15s H
Ken Zinc ,..... 14 13H
-WtMl End Con T TT
" Ceiro 8a I IB,, 110.
C A O. S . U74 U7i
f W -Fcit 4V 03 lOag
' Big Ingersoll-Hand Dividend
NEW YORK, April Ingersoil-Rand
Company has declared a dividend on the
common utoclc of 30 jir cent lo cash and
.9 vtr cent stocJ. payable April 2S to
feoc vS rewd April ih
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Minn St 1. 4a 1121,
Mo Kan & T 1st 4s TIH
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Mo Pac ro Ss 1017 02
Mont Power 5s . . 011
Nassau Elec 4s . 711
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DIVIDENDS DECLARED
John J. Felln t Co. quarterly of It, per
cent on preferred stock, pal able April 13 to
stock of record April 1
Brooklyn City Railroad Company, rtcular
quarterly of 2 per cent , payable. April 15 to
stock of record today. Books close today and
reopen April IT
Moaona-aheU Valley Traction Company, res
ular quarterly of 1 per nt on Its common
stock, payable April IS to stock of record
April 12. 1
Real Estate Trust Company, regular semi
annual 2 per cent on preferred stock, payable
May 1 to stock of record April 13.
Cluett Peabody a: Co.. reaular auflrtrlv
4 per cent on the common stock, payable
May 1 to stock of record April 10
First National Bank regular quarterly of
3H per tent payable April 13 to stockholders
VI record at ths- close o business April 13
Tb Meixnanta I'uloo Trust Company ttr
mar quarterly of 1 per cent payable April
Z4 to stockholder of record at ctosa of bust
WM 00 thj-t day
I
t.n
Aiiarri? ExprcM .
Al.uki J (ioM M
Ahika tlold Minos
AllH-Chilmors Mfe
AIIH-Chal Mfg pf
Am licet SugM'
Am Cm
Am Can pf
Am Cir & Fily .
m Coal Prod pf
Am Kxprp.
Am llldo & I.plhcr
Am Hide & I. pf
Am Ice hccutlllcs .
Am t.lnvoil . .
Am I.lnstrd pf
Am Locomotive
Am I.oeoninllvn
Am '111 A lief
Am Smelt pf II
Am Sucir lief
Am Tel A I ihle
Am Tel A. Itl
Am lolncro
Am Woolen
Am Wfltlna V pf
Am 7lnr 1, A Sm
Atnrondi lop M
Aoelil(d Oil
Alfh lop A S F
Atrh lop A S V pf
All tonit line
Ildl I lii-o kl
Halt A Ohio
Hilt A Ohio pf
lltown shoe
Ilrooklyn Hap 1 r
lllltle A MlperlOt
llilttetlrk to
t al I'etrolrum
( al Petroleum pf
( anaillin I'vrlflc
t'aie .11 If M pf
( mlMl Leillior
Cent A S A Tel
Chandler Motor
t hes A Ohio
C hllo ( upper . . .
Chlno (opiier . ...
t hi Hrcit West
Chi Mil A M 1
t hi M A M I' pf
thl A Northwe'tern
Col I'iu'I A Iron
Com 0 T Kee Co
! Continental Can
Corn i'roduet' Itef
lorn I'roil llef pf.
Cruelble Steel
Diere A Co pf
Denver A fllo (Ir pf
I)i troll IMUon
Distil Sf torpn .
Dome. Mines
Krle . . .
Krlo 1st pf
Ted Mln A m
(len C hetnli ,il pf
(leneril Motors
(iimnl Motors pf
(lOoUrlch II K
(.nodrlih II 1' pf
(ireene-Cinanea . .
lireat Northern pf
(i N efs for ore prop
(iURRenhelm Kvpln ,
Illinois Central
Int llirv .N J
Int Con (or v t c sli
Int Con (.orpn pf
Int l'vper
Int I'apt'r pf
int Con Cop
Int Nkkel v t rfs
int M I pf e of dp
Int M M pf c of Up ,
Jewel Tei . ..
Jewel Tei pf
Kan C llj Southern .
Kan Cltj Siiitli pf
Kt lip spk lire
Kellj Tb Tlie pf
Kennecott (upper
Kln.-s (OKI, A V
Laek 'led Co
I.aclede dai
Lehlu'Ii Waller
Ias Hublier lire
I oose-W ills Jd pf .
Markai Cos
Mickay Cos pf ..
Mavwell Motcrs..
Max Motors 1st pf .
Max Motors ad pf ..
Mixlcan Petroleum
Minn St V A S h M
Miami Copper
Mo Kan A Texas .
Missouri Pailfle
Nat Ilkcult pf
Nat L'nam A b Co
Nat l.tad Co
Nat U-ad Co pf
Nev Con Cop . .
New York AlrUrako
N N H A II
N( York Dock
N Y C A II 11
Norfolk A Western .
Northern Pacific . . .
Paelfie Mall
Pacific Tel A Tel
I'eniisvlvanli It It .
Peoples Gas Chi
Philadelphia Co
Pitts Coal Co N J .
Pittsburgh ''to'1 Pf
Pnsiert b Car Co .
Pullman Co
Hy btccl Sps Co
lias Con Copper . ..
Iteaillnk'
Hepulillc Iron A
Hepuhlle I A S pf
Hock IsUhiI
Itock Isl.mil pf
St L A S F 1st pf
St 1. A s F 2d Pf
St Louis Southwest
St I. Southwest pf
sears Ko A Co . .
Shat Ariz Cop . . .
Sloss-Shef S A I .
South 1'orto It Sus .
fcoutheni 1'aclfle . ..
Southern H) . ..
Standard Mllllnc
Studebaker Co
Tenn Copper
Texas Co
Texas Co rights . ...
Texas I'aclflc . .
Third Avenue
lobacco Trod pf ...
Union Bag A i'aper
Union Dae X I' pf .
Union raeiflc
Union I'aclflc pf .
United Fruit
U S Ind Alcohol .
V b Ind Alcohol pf
UbCIl'lK.
Un His Inr Cc pf
U S Hubber
V S Steel Corpn .
U S Stool Corpn pf .
UbSmlUM.. .
U S S It A M pf .
Utah Securities
Utah Copper ..
Va-Caro Chem
Va-Caro Chem pf
Wabash
Wabash pf A
Wabash pf B . . . .
West E A M
Western Slaryland
West Union Tel
Willys Overland . .
Willys O pf s r f p .
WooUorth F V.. .
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224'
10.1
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IS
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214
774
KS
lit
204
014
71
004
(17
120
1 7
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774
ra
,11
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074
7.14
KM
.17
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I
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llfi'i 117
014 01'
104 104
10,14 10J4
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00
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02 0.1), o;j' oi'i
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1704 107 107.
HO 100'
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1244 121). 1234' U'3!i
RAILROAD EARNINGS
CHICAGO OKBAT VVESTEll.V
10111 Intreatd
Fourth week Krbruar 1831 RI3 110 1)71
From July t ll.l-'l 330 7111.37s
llOHILK AND OHIO
Fourth week February 1314.433 137 210
From July 1. 8,077. H2 439 020
CINCINNATI. NEW ORLEANS AND TEXAS
PACIFIC
Fourth week March 3U7.Ht) 181 S2R
From July t . 8.100.307 1.031,017
DENVER AND RIO URANDE
Februiry cross U.731.H3!) 131)3,111
Net Sat.207 2a.4ll4
Elsht monlhs' Brass 10 1)71.11(1 1.030,313
Net .. . . U.072.I18 l,T8J 47l
ST LOUIS SOUTHWESTERN
Fetruary gross
EUbt months1
Net . . .
gross
J SO. 49(1
42,731
SKI im
717,310
1 022,4 32
liiu.doa
S.2UO 742
2 0U8 283
SOUTHERN RAILWAY
Fourth veelc ilsrct.. I2.0BS.428
From July 1 . ... 31.7U! 084
4.LAUAMA GREAT SOUTHEftN
f 203.326 139.811
4 090 488 (113 Oil
CHICAGO INDIANAPOLIS 4 LOI ISVILLB
Fourth week ilsrch 1228 226
Month . .. 874 til
from July t ... 0,671 518
Fourth week IHrcb
l-iu w, .
1277 81-0
4.437.601
! 30.284
WHEAT ENDS EASY;
PRESSURE IN JULY
Export Demand Not Large.
More Rains in Southwest.
Crop Advices Better
miv iii.i.t vv r.vTiiiu
(IIIC Villi, ,irll I) The wmllifr tore
tnt for 10 Imnri follow si
Illinois 1 nlr Innlelit. unrmcr nett
I rhl n Inrrp.nlnir rlnitillnfi nnil rlli'K
Irinprriilnre. Willi shnners snulli nnil
Vtl4niirl Inrrniilnir elonillness ullli
ruin In tr Innlelit nnil Irlilm. olnnlt rl
lne IrniiirriH'ircs. ,
VVI((inln I nlr nnil Hiirnier Innmhlt
f ridiir imrtli rlnnih nnil unrmrr, ruin
Vllnneo(n Inrrpnslnc rlnmllnfs 1 1 ts
Unlit mln or iiioh lntf Innlshl nr I rl
1I11M mirmrr tnnlalit nnil rnt nnil sonlh
tnnlii Dnkotn rrnlmlils rnln nr snn
II ml niumrr tnnlshli I rldni purlli
ilniiih. ....
NrlirniKu Rnln nr i,now nnil unrnipr
InnUlili Irliln nnMllril, tllh rnln on-t.
Kiiii,'!', llnln tonlshl, unrnier rnitl
I rlil 11 iinsrtllril. with mln rust.
CIIICACIO April fi The vvlienl rrnrkot
tml.iy vv.ti fr-verlih nnd Irrpstllni follow
hip a firm otnrl. nnil flnlilint r-.i CoV
oritur rnlllcd frlccs nliovo tlio tircvloiii
cloi slinrtlv bpforn tlio end lint thr ninr
lirt linked IniovniRV nnd did nut liuld
l.r.nlliiK cnnimWKloti Iioiispi pro on lioth
ildpi tlirniiKlioiil the pp(loti nnd Ihero
mh nnslilernl)p prcxiurp 1111 July nl
tlniii Tlicro ih Miino ll(iililntlnti over
tho (lovpriitnpnt reiiort, vv Iilrli villi bo liliido
public nt 10 it 111 totiiiirniu TIip ilcinntiil
for pi(irt nun not InrKe
TIip Sniilliwi "l rcoplipd innrp ruins mill
orot) mlvlcp frntn that section vioro bpttpr.
nllbnllgli lepnrtB front tlio sofl ilntpr
ttlirnt SlntPK I'liiilliiliPil lo "Itott Itcniv
lostos Itl nrrooKP The vipiitltcr In tlio
NorthvvPKt ttiiw "Id nnd prilitifr In Hint
(.pptlntt ttdw dpln.inl A illfp.lti'lt ft (Hit Hi
Louis did tlt.it n viltpnl thptp vina two
ttcoks l.iti stnlcniPtttH Unit tlio plant bad
boon Injured nilKbt l' proninture
Tito fdilo Stiitp crop lopnrt for April
wn bulllili pliilttK tbe condition tbero
nt onlv ((! iikiiIii'I 71 n month nRo, S8
n vear nifo and 102 litut llllv ltooiip on
fnriilM tlterp wore 22 per cent, nitnliiM
12 per (.ent In 0ir Tho iipvvi from
KnnnH fIiowoiI ftirtltor Imprnveiuont
There as preituto on the market nt
I.liorpool liecaiio of laiBei nrrlvali
It mm Imllrntnl that tompoiaturoa In
Northern llttiila were tlxltiR, and the
belief prevniled that linvlKiitlon uriittd
bo ronpenoil Hhnrtly NiKiitl.itlons ttero
tltjdor way fot shlptncntH of Ktrtln bv
way of AtcltniiRel l.nrRor MilptncittR
from ArKcntlna iveie preillited for tlio
vieck. the total beliiR put at 1.200,000
Imshelf.
Corn ttirnod llrntor. follnnlnc lioavl
nesx, after 11 display of Ktoadlnesi oarlv.
The ihar.iUi'i of the liuvlnir w.ih Kood
Thoro note reprntH that farmeiH in
Nibtank.1 vi ire t-vllliiB tnoro fieely.
Advices fifim ArReutlna vieie bttlllslt,
the oron of tli.it cnuuti v beliu? iilllolnlly
extltmitod nt Kll.riOO.OOil busheN The
mnrltet nt Liverpool viai firm.
Tindlnc In nntH was not larpc The
innrket, nftei rcieillnir, rallied There vins
(.(Hue pipxHtue on May by 11 l.irRu upccu
l.itor w tin boURltt July
lnillnjr futures rmiptil ns followi
vvnoai-
Sales in Philadelphia
Hlsh Low Clot"" rhito
31 Am Mllllnc 7s "? 7".
12 Am ttw .1-.j ar.U 3-.U
7 ilo prof li't't irn'k Ml',
III TIulT S t o 4S II 48. i
10 ilo prof Ml' Mi' r.M' -- N
40 J II llrlll 42. 12 42. J
400 Cftl IVt 21' 21' 21' ,
70 Cnm Iron 4i 4V 4,1
04 r.toi stnr 02 01 14 ill'
JI Dint Poo III' till 4'l'i J
loo Uon Whnlt 111 .HI Kl hi
7V ilo prof 72 711 72 Ji
loo Interliom ions 17 17 17. Ji
H Ins Co N Am 2V'4 21' 2.1'
100 Lnko un Cnrii ln'l lll'I Ui'i !
10 LohlRh Nn 7S' 71'1 7B' .'i
22" L V Tr 22 Ji 22 J, 22. J.
Ill .li. prof I l'4j I I 41 , - J
. .11 Mlnohtll r,7"(i .17' r,7 4 '
lmio viinmi cm is' .in, in' ;
1 .North 1 mt si kh. ss, V U
.121 Noi Cons 17' 17j I7'i Vi
2(17 IVnnn It It .17 i ,17 .17 .'
1 1 Snlt Vir-i lol'i 7ol 101 I
21 Pn stool prof 111 UR I'M.
2111 I'hlll Co 4'i It 44 4
.lit . ilo lum prof I l'i n't n' .
1177 t'llllil lili 1 27 274 27S '
11 r it r tr ptfs n', imu ih'j .
(I I'lilln Trnr 7il Til's "(l' 'i
1,1 Hhi t'nm 24. 21. 21. .
Inn Iti'iiilltiK mi' in's Ml' - H
I'll Inn llol 4 4j, J .
inn Ton Vila 11 ' (It 11
.1(1 I'll Trno n( lift 4a's
21 V II Imp vhU shU ks'i '
2.(1 1! 8 Hticl MN KlS ?1S ,
.11)1 VV Ir SI II . 101 loji 4 s
mo vi j 1 111J4 !- 111J4 ;
I2ti VV Crump A M 11 J, si s' i
00 Vork H PM ,ius ,tnN an's 's
tmsMii
Not
11l(h Iiw Cloco 1 hue
J(!0il A (I ft 111 n.Ul-i 1'1't ,01's ,
loon lint I.11 let ft" lol'i lol'i lin'i N
III110 1:1 t IVo ir l N2 M si .
innii Km lil 1st ,1-1 lis lis IW 's
innii I, Ir 1st li tIJ'l tUli IU'i
.lllllll dn CI Is Hi 101 's I Ill's 1'11's
llllll) I'lKOI'tH 111 102 1112. 102. '
lllllll I'hlll to l fis Ill's til i III'
1001) iln 1st .Is 1011 till '4 l"l. 1 4 'l
12(10 I'hlll C.loi 4s Sl, M'j SI',
lllllll On ,1s llll 101 I'M.
'jnnti ttoml r m 11 Is lil'i ill's l'l ,
lliiiiii I n Hi Un ,1s 71 7 1 71 i
nun vvoiiiiiih r.s im tm mi
liiiinil Vnrk lt 1st . ml ''l'i H'I "i
Local Bid and Asked
Yrfl'itm'H
Opon Hlch l,nu. Clno rlni,
Mnv ... 1 1S'4 1 III' 1 17', 1 IS 1 1S
.llllv 1 171. 1 17N 1 III 1 1H 1 17
".opt 1 114 1 ITS 1 l.Ta 1 1IM1 lli
Corn (nou loiIorj)
Ma . . 7.14 7(1 7l's "TSV, 47.1N.
lull . 7114 7(1 7I' 7ll, 7l,"
Sopt . 70 70S 7,14 ti(ls "',
lints
Mn . 114 11 It's ll'i 114
.lull . I.l II H4 "4 l'i 114
Mnt . It's It'l 104 !! II
Lard
Mn 11 .17 11 17 11 IS "11 17 11 17
Julv . ill) 1171) 111.0 '11117 lllill
Sept . II h7 II S2 Ml S7 11 SO
llllis
Mn 12 22 12 22 12 11 '12 20 tl2 20
.llllv .. 12 II 12 III 12 12 tU 10 12.17
brpt . 12 12 12 12 12 All 12 Ti2
1'orl.
Vt in 21 12 21 21) 2 I 07 t2 1 20 "2 I 12
Jul. 22 llll 22 II2 22 SU ' 112 '22 DO
Mild tAskiil
Financial Briefs
Tho State Troamiry ban leceived $134,
000 from ltOKister of Wills Shcelinn for
htnto tax on Inheritances
The amount of Intel nal revenue taxes
collected in tlio Philadelphia district in
Match was JilT.'.l'JS
Announcement Is in.ulo that the Sipulpa
ltellnlnic Compan 11 HI (j.ill tho remainder
of Its preferred btoik outstandlufr. amount
I11K to about $2'i. 11(H), May 1, at $0 per
share The prefencd stockholders, how
ever, villi be ulven the opportunity of
converting their stock into common, sharo
for share, between .May 1 and 20.
A meeting of the directors of the Kene
flclt JJInc Corporation has been called for
April 18 to tako action on tlio dividend
Gross cirnlncs for Kebru.iry of tlio Re
public Hallway and Licht and subsidiaries
amounted to J310.45D, an Increase of
$77,221 over those of tho corresponding
mouth of last ve.ir Net receipts viem
$130,211, an Increase of $12,148
The Havana lllectrle Hallway and Light
nnd Power Company reports gross earn
ings of $189,543 duilng rchruary, an In
crease of $45,130 over tho conespondlng
month of last jenr. Net earnings umount
to $311,770, an Increase of $43,301.
Northern Ohio Traction nnd Light Com
pany has Increased Its order for 25 cars
to 40 cars, of which 15 villi bo steel Inter
urban cars and 25 steel city cars Kach
car will bo lit ted with four motors
i; J. Iloscnbaum. Paul Liftman. P. F
.Salomon, Jor ti V,' Hammond and Samuel
II Glnsburg have been elected members
of tho Consolidated Stock Kxcbnngc.
A statement showing tho financial con
dition of Gaston, Williams & "W'lgmore,
Inc, was issued today It shows that on
February 29 last the net surplus assets,
over and abovo all current liabilities,
amounted to $16,511,342.
The pales of the Jewel Tea Company,
Inc, for the four weeks ended March J5
were $861,565, against $51,111 In tho
same period In 1915, an Increase of
$313,163. For the 12 weeks ended March
25 tho sales totaled $2,199,032, compared
with $1,620,1G9 In 1915, an increase of
$878,863.
The New York subtreasury gained
$711,000 from banks on "Wednesday, mak
ing cash gain since Friday of $6,170,000
The Victoria OH has purchased control
for cash, of 1000 acres of proved oil leases
in Iirexton County, V Va Contracts for
immediate drilling have been made
The Stock List Committee of the Phila
delphia Stock Exchange rules that deliv
eries for bales of Harrison llros ic Co
preferred and common stocks, made on
April 7, except for cash, and thereafter
until announced right to subscribe, shall
be accompanied by a due bill calling for
the warrant, if Issued by the company on
April H, under the proposed btock allot
ment to be voted upon by the stockholders
of the compan on April It
Shipments from the Westinghouse Ulec
trlcal and Manufacturing Company, Pitts
burgh, in March amounted to SOI cars, a
new high record The largest previous
month was less than 700
The White Motor Company has received
a contract for 51 of the United States Gov
ernment trucks ordered Wednesday for
Mexican service.
The Mexican Petroleum Company today
authorized the statement that it has Just
closed a contract with a large American
steamship company for a total of more
than 10,000,000 barrels of oil. Deliveries
will run over a five-year period and under
the contract they are to be begun not
later than August 1 next, at the rate of
at least 100.000 barrels a month, reaching
200 000 barrels a month by January 19 IS.
and continuing at that rate thereafter.
Tinlni " V.estrri!n s
Hid Asked Hid AxU.il
llnl.liiln Hit 4 H' 107 1".4
In prof Id'' I'm 4
Hurt & hub-i i c 111, !;,, j; ;;
M pnf 1t'4 i"'4 Mi "I
.1 (I llrlll 11. II. IJ '!
Illoe Htnrnno . ill 4 '-'4 'H's -.
(Ion Asplnlt . . . Hit .'I'l4 TI 2'i's
In Ptof . 714 724 714 .2
KMslnlie Tol II 114 1.1 '4 It
iln t o II 114 I l'i It
do Pfd . 1114 70 'in '4 70.
Lnko sun fort i'i4 m 1", I'j!
LohlRh .Nnl . T.I 4 TVs, T.'i , i
l-ohli.il Vnl 774 Ts. TT4 ".
I.0I1IRI1 vnl Tr . . 22 '4 22"i j.-i --;
iln pfd . II 114 I l'i 1 14
IVnnsjIinnln .ITS 1T4 .174 li'i
1'hllii lllntrli 2T4 27N 274 27'i
I'lilln Co.. ll'i ll'i II -fl'i
In ,1 1 or 1 Hit prof .l'i In.
ilo 11 per (ont. prof II 114 I1J4 It's
l'hltii It r t i .. ls'4 1;4 isl, is4
Itoiidlni: ,. . . si, s-,4 si, si
riiiiiipih lid l"is 14 4s, 1 '"i
Tiinnnilll Villi 14 ll'i '1 i 'IS
I'nlmi 'Inn U4 4 1'. ll'i 114
C (1 I SS4 ssN, ss', SS4
1' S Stool si', S1 SI'i s-.v,
Vnrk Itwj 114 12. 114 1l
In pf.l Bit 4 S'l'i .I'l'i :i'i4
Win Criinni to. s.l si si 4 si
LOCAL iMINING STOCKS
TONOI'AH STOCKS.
Ill I Axkoil.
Urn Mullet- HI l"l
vim Niitiuirn " .I'.'
.Vlllllll) .JI
Vll-tnili CMitmlun 21 21
.Vlonliinu " U
Nnrtliorii hinr is H
rntmiinli ltolinont Ini I.1 in
Toiinpiili Cxtoiislon 's '!
Tniiiiiuli Mining 4 'I.
It m 11c llnln , " .JJ
Wist Cnd 7tt .71
COI.Ui'ini.U .STOCKS.
Ailnntn II .HI
I II IK' Hull nl ."I
llmith IK .211
Illlllilog ' ."J
C. O IJ "I ."I
Ciimliln.itliin I'rnitlon 0, .lis
Dliiinf. Ull "1 nl
!.iIk I .'"I
rinrinco 12 til
(nlilllold Cotisnllilntoil 7s so
linlillloM .VIiiki r IT, .HI
.Innii (i CMcnuInn I' .SJ
Koiattns II .1
Oro 'I ."'
Mind K'-n 'I .Oil
bllier Tick 07 .OS
MISCCI.I.ANCOCS.
VaWi Aztec 01 .02
Klmlierly 'I .'U
Noiniln Illll 17 .111
Arizona I'n nO .!
.Niwul.i W'omlvr 1.1)0 1.03
NEW YORK COFKEn IMAHKET
MIVV AOItK April (1 - 1 Im , olTco Illnrliot
op-ned llnnor this morning nnd tlrst prkes
wore .1 tn I points higher with hiiIch of 4.101)
1, ins on tho tall.
Todni ' Oponlns Vos Cloio.
Mnroh 'SOI M ".!)(' H ill
April Hindis 12
Vlny 8 22 N 1KWS 111
Jutiu HJJWSL'I
lull S.31 S2lUnS,2S
Aiisust s mm Kit
r-.ploinlior 8:n8.40 s.-m H. 11
() tolier 8.41) s I7(s is
.Nmunbor KUdSIl
llinmln Slims 17
Junuirj (.1iii'S12
IVtirtniry h.51i' S 17
Hid.
Steel Shafting Hiiihcr
PITTSBl'HOII. April 6 Several lead
ing makers of cold rolled steel bhaftlng
nro now quoting at 20 per cent off tho
list, or $5 a ton abovo tho previously pre
vailing minimum price.
German Dank Statement
IinitLIX, April 0 Tho weekly state
inent of tho Imperial Hank of Germany
shows: Gold reserve, 2,460,000.000 marks,
Increase 513,000 marks; commercial
prper and treasury bills, 8,112,000,000
marks, Incrcaso 2.214,000,000 marks,
circulation and bnnklng notes, 6,988,000,.
000 marks. Incrcaso 614,000,000 marks
private deposits, 4,357.000.000 marks, In
crtaso 1,614,000,000 marks
20 DIVIDEND
lias been declared by tho
Barnett Oil & Gas Co.
to stockholders of record April lOtn.
Particulars JtreTnueat Devt. f.
Stock nctlirlr truilfiln onN. Y. Curb,
E. H
Iniost
27 W Hllum-ttTriV4Aik City
Oooklet I'ust, 1'resent and Futurs of
Independent uus, - on request,
4 lSlmJXiJEj
sOntMurllfsST
UNION PASSENGER RAILWAY
STOCK
Dlildrnd -ruurantred by terms
at Iruse hi I'lilln. Traction to.
J ease usslcnril ta Union Trurtlon
( o. anil acutn usslsueu 10 I'nlU.
Il.int.l r....,.lLi J
PRICE T0 YIEUT5Js95
rr&PETRY
IV1ELLO
Member N. . & l'lilla. Block Kirhunfes
336 f OVIVIKltt'lVL TItUST iiun.ni.Nr.
AUTO OWNERS
Your automobile Insurance Is DEX)
()1 IlllrUI) euiense. 1 can save
sou money. lrenresent only sound
rnmtiunl-. ls-iwlll Dar soil to nttc
me to proie these slaieiutntsj
HARRIJTTTA
i"en8irPanto lilag.
INVEST IN MORTGAGES
AT 5.4 ,
Recommended by I
BEN T. WELCH S
1328 Chestnut Sti '"
DIHECTOHY OF ACCODNTANTB
Certlnsa fublls AccaanUats
LXVVUKNCB U. WiOWN CO.
X15 IUI-VL iMTXIH 1UVHC UUUJ)Ba
1 NORTHWESTERN RAILR(
UNI VERS AL GAINg
Large Expansion for Year Expect
Many Equipment Orders Place
High for Buffalo and Susquel
Gains In revenue In February wero
universal on tlio rnllroadi of the- North
vveit, nil showing llbernl Incrensei over
a year npo, ni well ni for the Ilicnl year
to date Some of the larse carriers of
that section, It Is believed, will thin jenr
show the tnrircst expansion In revenues
on record
The Burlington showed the InrRest pains
In frross nnd net revenues In Tebrunry
of nny of the Northwestern roads. Its
uross linvitiR expanded more than
$1,700,000 nnd its net about Sl.jOO.OOO. ns
compared with the same month Inst jear
Next In line was tho St Paul, with nn
lncrcne In irross of more than JI, 200,000
nnd n limit $600,000 In the net
The ritlcnfro nnd Northwestern and tho
Northern Pacific also made lame In
creases In both Items and the cross of
tho Orcnt Northern rcllectcd Improve
ment, but oporntlnr; expenses were raised
to such nn extent ns to brltiR nbout n
fill II 11 IT off In net
More Ibnn six limes ns many locmno
tiles nnd mer four times ns mnnv freight
cars have been ordered by the rnllunjs of
the t'nlted Rtntes In tlio tlrst three months
of 1016 ns were ordered during the sarno
period of Inst jear. according to a com
pilation published by the Hallway Abo
r!n7etto
This comparison shows orders for 11.17
locomotives for this period In 1016, ns
FOREIGN EXCHANGE
XtJiV YOltt-r, April 6 Tho market for
forelRh exchange In the first hour of busi
ness today failed lo show nny lncrnscd ac
tivity Tho fcaturcH Included n further
ndvniico In .Scandinavian cxchnnRc nnd
relchsmarliH Sterling held nbout steady,
vi Idle Trench exchange continued heavy.
Quotations were' Demand sterling,
170 7-lfi, cables. 4 70 lfi-lfi5i4 77 i franc
(allies, tins', 1 checks. 0 98; relchs
miirkH, 72 nnd 72 '4 ; lire cnblcs, fi B81; ;
ihecks, (150; Swiss cables, B 19 ; checks,
filO'4: Vienna, 12,15 nnd 12 38; Stock
holm 20 70 nnd 20 80 ; pesetas, ID. 35 nnd
1!)40; guilders, 42,8 and 42'i; rubles,
,11.40 nnd .11 50
The feature of the inld-afternoon mar
ket was further weakness In Trench cx
th.inge. At 5 0815 for cables nnd 5 00'
for cheiks this class Is lower than at nny
time for n nunibct of necks The ex
treme low record was 0 05 In 1015 With
out quotable mil antes from the early hlBh
level, Scandinavian exchange retained
itrength The strength of this exchange,
ns well as of Siiedlslt nnd S11K4 exchange.
Is due to speciul trans ictlons with tier
m.inv. those countries being nbout tlio
sole sources of supply to tho Teutonic na
tions nt the present time Itekhsmnrks
shaded , to 72'. nnd 72 5-1(1 The
opening Ilgures were 72V8 nnd 72'4 Ster
ling held steady at I 7fi 7-lGfi 4 76 for
duiiand and 1 77 for cables
BANK CLEARINGS
Hank clriirlniTH tmlii-, compared with corre
sponding il t Inst tun cirs
mill nil', inn.
SIO Ull 111) JIS.-.W.IIR JSO.litH Odli
11,4X04711 J7.1I! lit "1 Mill .117
Neil Vnrk IliO JJll.II III ,1 IS.J(.'I HIS "xT-Min i'lil
chiiiiKi) . iis.jjiiini ,vi nil mil nii.sii nin
1(1 Kill 171 14 JSl.1,11 lL'.MlO.ll ,0
Phllnill
llustun
ht I.uuH
RATES FOR MONEY
Now Vnrk
l'hiladolphl;i
HoBton ....
t'htrllBO
I'll II
1U
.1 .1'4
3
,m4
Time
J'iUfVi
3 t 4
t (if l '4
4 W41,
Commirrtnl nnrvr. H to (1 months, rhllndel-
plila. J tif.l'-a per tent
NEW YORK BUTTER AND EGGS
Nl'.VV YUilK. April II - lltTTKIt Mnrkct
Hlluhtb nuririirkiit I'rltes shudo loner Ile-
PlptM KS'iii pin toiKes. Ixtrn crenmer ,tnV4(a'
37e., hlKhcr siorlnc. linisi, state ilnlrv,
aim "11 'a i linltntlnn crenmeri SS'sirflOc.
IltidS Vlnrliit (Inner im hUh Kr-idvs lto
celiits, "7 S"i1 cises Kxtrn Mrsts, 2Jft4C .
llrxtM. SliiL'Jisc. iililte i),kh. -'M'iile,. bronn
ri,Bn 1'4(( Itli . iiilxml rnlnrs, JJ(U-3Hc, re
frlBirntor licst, -J" (!1.'.l.
Tax Exempt in Pennsylvania
WE OWN AND OFFER?
Reading Co. Gen.4's, Jan. 1997
Beech Creek R.R. 5's, July 1936
N. Y. Cent.&H.R.R.R. 4's,
May 1934
Penna.R.R.Gen. 4,2,s,June 1965
Penna.R.R.Cohs.42's,Aug. 1960
Allegheny ValleyjRy 1st 4's,
Marchy!94p
rurtlcurnrii tfri nppllcatlirl
A. 6. Lqach & Co.
IIS SOUTH FOUKTII STREET
Iloll 'rhono Lombard !!37
New lork Chlrnco Ilostnn London
against 181 fo
were ordered
191G and 801.1 In IS
nengcr cars were plaMcriod(
ns ngnlnst G06 for 191
As Indicating the continued activity In
tho huvlng of equipment, despite the hlnh
prices for material for the week ending
March .11 there were orders for 128 los
comotlves, 4250 freight cars nnd 100 pas
senger cars, having a total value of at
least $10,000,000 There were also orders
for 154.000 tons of rails worth nt least
$1,500,000 or total purchases for the week
of $14,550,000
On the Philadelphia Slock nxchange to
day Tramp stock nttractcd the most at
tention, that Issue ndvanclng 2 14 points
on sales of 179 shnres There vvn9 no
news to account lor the ndvnnce, but
there wns n reiteration of the report hcnrtl
vestcrday that new interests viere after
the company Part of the ndvnnce was
lost In the nftcrnoon
Aside from this upward move, thnnges
wero mostly downunrd ntthough tho
losses were, for tho most part, only frac
tional Tnltcd Itnlluass Investment Bs,
which were strong yesterday In response
to the declnrntlon of nil increnscd divi
dend by the Philadelphia Companj 11 oro
oft n half before noon Buffnlo nnd Sus
(liichnnna, reached a new top nt 48, up 4)
points since Saturtlny
COTTON STARTS SLOW, HUT
LATER BECOMES ACTIVfl
Pricci Work About C to 7 Points 04
July Abovo Lnst Night's Close
Stiff YOItl', April G Business was)
almost nt u standstill on tho cnll In ttiri
Cotton llxchnngc this morning, there being
one transaction each In July, December,
January nnd March, with only a four
each In May and October
Late In the morning the mnrket wad
more active The firmness of the lato ca
bles from Liverpool nnd bullish spot nd
vices from Savnnnnli seemed to be fol
lowed by covering nnd prices vvorkeel
about G to 7 points abovo last night's clos
Ing Ilgures on July nnd later deliveries
May vias relatively easy, but sold 2 to a
points abovo last night's close, nnd tho
market showed n generally steady tono
during the noon hour
l.nreer exnnrtn nro exnoctod from AN
lantlc ports In the nenr future Locat
warehouse stocks have shown a decrenao
recent!, and it Is supposed the cotton 13
being taken out partly for shipment
nbioad, and Savannah today reported
clearances of ,1i04 bales
The receipts of cotton nt the port for
tlio day were estimated at 14,000 Dales,
compared with 23,4(iG bales last week, 31,
0G7 bales last car und 12,370 bales in
1914.
Yes rinse Open llluh Low Lnst.
Vlurch 1.' IT IJ 4.1 IJ .--. 12 41 li' :.5
jiny . 11 N4 11 kj 11 ni 11 so ii.na
Julj . 11 nn 111111 Ull linn t" nt
OitnlMT l-'H 1-' 1" 1-'"H 12 1 15
Derembrr IJ I" 12 'U 1- 44 IJ 811 12.4S
January 12 .1(1 IJ 3". 12 4S 1 J U " -IR
bput .... 1-00 .., 12.0B
Liverpool Cotton
IsIVnilPOOU April G Spot cotton to
day vins In moder.ito deminil, at n dccllno
of 1 point on tlio basis of 7 57(1 for mid
upland The snles nggregited 7000 bales,
Including 0000 bales American The Im
ports were 9000 bales, all American Tlio
market for futures closed firm at a. not
ndvancc of SfflO points
BAK SILVER
LONDON, April (1 Hnr siller tndny wa
Hinted nt 20 7-lt'l . nn ndvnnce of l-lild.
('immerctnl tmr sllicr unn quoted tn Now
York totlny at Ul'4 cents, un Increusn o( H
cent
r7a7
--ACO.
PUBLIC SE1WICE
SECURITIES
Public Service Securities
arc a lien on the success of
communities.
G, Our Public Service Securities ara
excellent examples or conservative in
vestments yielding a high, return,
G, From them you not only get a large
yield, tut the assurance oi safety that
comes only with obligations or highly
successful Public Service Companies.
G, "Wenowhave fourdifferent Bonds
that yield
1st 5 -2nd 5'2 -3rJ 67c-4tti GVtfo
C They are vell seasoned and hav
been issued by companies with unim
peachable records.
CI, We recommend them for invest
ment, and will hand you complete data.
Baker Aylirvg -. Co.
Land Title Bldg" Philadelphia.
FOUNDED 1792
im insurance Company.
op North America
Announces the opening of an
UPTOWN OFFICE
Room 211-12 Real Estate Trust Building
Corner Broad and Chestnut Streets
Fire, Tornado, Marine, Automobile, Parcels Post, Tourist,
Floater, Perpetual, Insurance.
BENJAMIN RUSH,
President.
JOHN O. PLATT,
Vice-President
SHELDON CATLIN, ,
2nd Vice-President
OFFICERS: yf S J
T, HOUARP WRIGHT. Jjf I
Tctary-Treasun? I
GALLOWAY C. MORRIS.
Assistant Secrets
JOHNKREMER, f
Assistant S&rctary,
DIRECTORS:
-wl
H
EDWARD II. COATES,
JOHN STORY JENKS,
EDWARD HOPKINSON,
GEORGE H. McFADDEN,
VILLIAM D. WINSOR,
HENRY W. BIDDLE,
C. HARTMAN KUHN,
ARTHUR E. NEWBOLD,
CHARLES PLATT, JR.
CHARLES S. W. PACKARD,
J. PERCY KKATING,
G. COLESBERRY PURVES;
BAYARD-iENRY,
JOHN W. PEPPER,
EDWARD S. BUCKLEY, JR.,
WILLIAM T. ELLIOTT,
WILLIAM P. GEST, . -fll
THOMAS S. GATES, jffLSl
BENJAMIN RUSH, M'
WILLIAM S. GODFREYt ilH
Assets over $20,000,000
ssWsjHslJ
tm
fejjl
r