1
EVENING L33DGER PHILADELPHIA, FRIDAY. APRlTW, 191G.
18
- -----.
r
I"
FINANCIAL NEWS
ALL INCENTIVES USED BY TRADING
ELEMENT FURNISHED BY WASHINGTON
Many Rumors Circulated in Connection With Diplo
matic Situation Caused Selling Market Nervous
and Unsettled at Times French Exchange Weak
NEW YOIUC, April 7.
Washington furnished nil the Incentive Used by the trndini element In the
stock market today. From tho opening until tho closo the room trndois hnd tho
Hold to themselves. Tho largest of theso traders started with offerings of Marine
preferred, and later In tho day, as various rumors were circulated In connection
with diplomatic steps supposed to have been agreed on at a Cabinet meeting,
concentrated Belling mado tho market tono at times nervous and unsettled.
For all practical purposes tho influence!! of the rutnota were the same at if
tho market had been called on to stand tho test of official announcements of a
rupture with Germany.
There was no Indication of liquidation of long stock, except in the specialties,
Where somo speculative Unci had been accumulated. Alt through tho rest of the
list Values havo been established on a firm foundation, which it will talto much
tnoro than a diplomatic rupturo to break through.
United States Steel common, which may bo taken as tho he, note of tho gen
eral situation, stood the test remarkably well, declining only 1 point, although
It was subjected to vigorous attacks. Tho loading railroad Issues nlo showed a
resisting power which has been displayed on many previous occnslons.
Tho feature of tho foreign exchange market wns tho continued weakness In
French exchange. Paris checks sold at the new low for tho ear, at C014. De
mand sterling wns steady, at 4,764. Exchange on neutral countries wns strong
and In urgent demand. The Stockholm checks advanced to 30, a premium In favor
of Scandinavia of 12 per cent.
Marine Ileorganbation Not Affected if Hack Hoiul Interest la Paid
NEW YORK, April 7. A man who Is familiar with affairs of the Interna
tional Mercantile Marino Company said today that If tho court grants tho applica
tion of Itccelcr P. A. S. Franklin, which Is to bo made within tho next day or
so, to pay back Interest on tho 1 per cent, and G per cent bonds of tho Mnrlno
Company and tho Nnvlgatlori Company, tho plan of reorganization, un outline of
which already has been published, will not In any way ho nffectcd. In other
words, payment of $6,355,000 Interest would simply bo deducted from tho amount
that is to bo allowed tho bondholders In accordnnco with tho plan of readjustment.
New York Bond Sales
New Haven to Sell Short-Term Notes
BOSTON, April 7. Tho New York, New Haven and Hnrtford Railroad will
shortly sell short-term notes against tho maturity May 1 of $27,000,000 one-year
Bs. Tho now issuo will probably bo a 4li per cent, security. It Is officially
planned to pay off in cash $2,000,000 of tho notes soon coming duo. Decision as
to permanent financing will be postponed until later In tho year. With further
relief from Its freight congestion, tho New Haven should, during later months
in 1916, show big net earnings.
Last Call of 3095- on Anglo-French Loan
NEW YORK, April 7. The Anglo-French Commission hns made tho last
call of 30 per cent, of tho final deposit In tho depositary banks on tho $500,000,000
loan payable April 20. Tho amount involved in this call from tho depositary
banks is $16,800,000.
NEW YORK STOCK SALES
Net
lllffh. Irfr. Last chantft
Aaka Gold Mines.... MM 10'S 10'J Vt
Alaska J Gold M If) 9M t)3 - H
Allls-Chalmcrs Mfe... 30 285 )W H
Allls-Chalmcrs Mfe pf. 77K 77 77 l(
Am Ae Chemical 07U 07 (17 I
Am Beet Sugar 7214 71!t 72 1
Am Can flUi TO 00 IK
Am Can pf 111. 111 111 1
Am Car & Fdj GM G7K OS IK
Am Car & Fdy pf 110). 110) 110M ii
Am Coal Products 100 1551a 150 3H
Am Cotton Oil G3M 5314 &M
Am Hide & Leather ... 10 10 10
Am Ice Securities, 284 2SH 2BH 14
Am Unseed 24 23H 2314 H
Am Linseed pf .1GV4 40 40 M
Am Locomotlvo 79H 70 77H 254
Am LocomotlTO Pf 102tf 1025 102M
Am Malt Corpn .... 10 W Dtf 1
AnjJUalt Cprpn pf.... 35 35 35 1
jBPSmclt & lief 10314 10H4 101K -114
Am Smelt & Kef pr . .112'f IKH 11214 ii
Am Smelt pf A 0414 0.H4 0414 14
Am Smelt pf D SO SO bO H
Am Steel Foundries.... 5JH 5154 5214
Am Suear Ref HOli 109V3 109V4 ii
Am Suear Hef pf 110 110 110 H
Am Tol & Cable 07H 07(f 0714 54
Am Tel & Tel 128V4 12S 12S
Am Woolen 0"s M 10 1
Am Zinc L 4 Sm 02J4 0014 00J4 114
Anaconda Cop M S714 SO 8014 ii
Associated Oil 0714 0714 0714 H
AtcnTop 4 S F 103'f 10314 10354 5i
AtchTopftSF pf....lOl 101 101
Atl Coast Xlno 10914 109M 1004 M
Bald Loco WorU lOSIf 10554 10554 -154
Bald Loco Works pf...l085g 108)4 VhH H
Bait & Ohio 87)4 87'f 87)1 54
Bethlehem Steel 470 405 470 -0
Brooklyn Bap Tr 80'X 80)4 80' 14
Brown Shoe 57 57 57
BrunsT A. It Usee.... 0 0 9 ii
Bush Terminal ...112't 112U 1121 H
Butte- & Superior Wi 0214 92H -154
ButterickCo. 2S 2S 2354
Cal retroleum 23 2J 2J l'i
Canadian Pacific 108 107 107 1
Central Leather 54'f 5M 54U ii
Central Leather pf 110 110 110 J4
Chandler Motor 05)1 U4J4 05 H
Chcs&Ohlo 02 C15i 01'f -1
Chile Copper 2254 2214 2254 H
Chlno Copper 5-m 54 5m H
Chicago Gt West 12H 121a 12H
Chicago Gt West pT... 20' 30 JO
Chi Mil 4 St P 9551 0454 0154 -15
Chi Mil & St P pf 12951 129)1 12954 54
Chi B I & Pac 1754 17)1 1714 14
Claett Pea 4 Co 72H 72 7-'H 14
Col Fuel iron 4414 43U 41 -154
Col & Southern 27 27 27
Continental Can....... 84 8351 84 1
Corn Products Hef 204 20)1 20J4 54
Corn Prod Ref pf 04)4 0i'4 IW4 -1
Crucibla Steel 0J14 031 91)1 2H
Dnere & Co pf... 01)4 0414 0154 54
Denver & Klo Or 10 0VJ 0)1 54
Den 4 Bio Gr pf , 201 20 20 11
Detroit Edison..; 133 133 133 H
Diamond Match 103 100 100 1
Distill Sec Corps, 48)4 4751 47,'f It
Dome Mines , 25 25 25 54
Erie , 3751 3014 3054 54
Erie 1st pf 62H 52 62 51
Etia 2d pf 4451 4314 4314 -154
Fed Mm 4 Sm pf,.... 42. 42 42 1
Gn Chemical 330 330 33015
General Electric 168 160 16014114
General Motors., 460 455 460 .,
General Motors pf 110 116 116
Goodrich B F 79V4 7754 7714 -154
Great Northern pf,....120Jl 120H 12051 3
O N cfs for ore prop... 44 43)1 4JU 51
Greene-Cananea 49K 4914 4914
Guggenheim K-pln 2214 22 22 14
iBgersoll-JUnd 285 275 235 S5
lot Agricultural pf 59)1 5814 58M 1
Int Har Corpro. 72 72 72 1
JntHarrNJ 11214 111 111 -154
Int Coo Cor t t e sh.. 1711 1714 1754 14
1st Con Corp pf. 73 7214 73
IntMMcofdp 22 1954 20 154
Int M M pf e of dp... 7754 7351 7351 -314
Int Nickel T t cfs 4911 4811 4811 34
Int Paper 11 II 11 5
fasp Coa Cop...f... 47)4 4614 48)4 -1J1
Jewel Tea Co Inc.,.,,, 8711 88 8611111
JtwrtTeaCoIncpf.,.U2 112 Wi 1
Ka City 6outhe.rn.,,. 27 2014 2614 11
Kan City South pf,.., 60 60 60 HI
Kelly eprlngfd Tiro Co 74J4 73J4 7314 - 14
Kelly Spg Ti pf 97 97 07 11
Kenneeott Copper , 57M 5614 67 )4
Laclede Gas 10551 105H 10551 14
Lade Steel Co. 77M 7614 7714 M
Lee Rubber TU 6214 6151 6111
Lehigh Valley ....., 77)1 7714 77H (
tools 4 Nash J25H 125 125
Mackay Cos SO 79 79 54
Mackay Cos pf.. ...... 6814 68M 68H 14
Manrdl Motors,. ,. 7351 7214 7214 - H
Max Motors 1st pf.... 8514 S5H 85W i
Mm Motors 2d pf 6754 66 5654 - 14
Meikan Petroleum... .11211 J09H 10051 214
Miami Copper 3811 33)1 38H - H
Mo Kan 4 Tens . . 314 3U 351 H
Missouri Padfto ...... 451 Hi 4ii
Mo Pacific trctt. . 414 414 414 51
Montana Power 7W4 7911 7914 M
Sattoaal Biscuit .. 123 123 123 If
Nutieaal Biscuit pf . 423 125 125
Kst ftsas SCo 25 25 25 - H
Nat 114 Co 67M 66! 6611 H
KmrCflltCop,, 17 165 1651 -
M H & . ftl C3K 6351 -1
MT UkUm 10431 103 10311 - If
WMtaH rs.. . .II3H 1J3 MX - H
IMWM &W4MTO -123 12 122M-I1
McrttAwtiiMs...... SH mn ew-fi
Net
HlKh Low Lant chnnKc
Ontario SlherMln.... 8 8 851
Pacific Mail 25 L5 25
Pacific Tel &. Tel . . 3", ,'U
I'cnnsjhanl-i It It 5714 57)4
31 -1
f.714 - 'i
55 5
13" 4 - J4
57' 4- t
IV.ll L. t,..,tll m-
1 I'lliUUUl'-.MUIllKUIl .... i) I)
Philadelphia Co 41 43)4
Pitts Coal Co N J.... 27'! 275!
Pltis Coal N J pf ...10214 102)4 102) j
ruisDurgn steel pf . . . . 00 '10
Pressed 8 Cir Co (2J4 fil'l
Pullmin Co 102 102
Quicksilver pf 5 5
Hybtet'l Sp Co 3054 30)4
Ray Con Coppor 24 2354
Reading 851! HV-i
Republic Iron 4 S.... fill! 0)1
Republic I & S pf 109 100
Hock Island J '
Rock Island pf )J
bt Louis 4 S F 2)4 254
St L 4S F 1st pf..... 5)4 454
St L 4 S V 2d pf 3)a 354
Seaboard Air Line .... 154 151
Seaboard A h pf nfl'l 301
Sears Roo 4 Co 177)4 177lj 177W 1)4
anai Am cop 3(jr 341X 1)4
South Porto R Sug....211 210 210 (
9714 07)4 1
20). 20j )4
57 59 54
140)4 111)1 -15.
521! 52)n - 14
1U514 10054 -15S
18 181J
854 10 134
0154 0154 - h
90 00 4
0)1 0)1 51
29 2914 14
99
API -151
102
5 Si
39' 4 - 14
2,i'l - 5 s
S45J - Jj
6051 i
109
54 ..
5j
2J - M
AM ii
.1)4 - 54
15'j - ii
30)1
Southern Pacific 0SI4
Southern Ry 20)i
Southern Ry pf 59
Mudebaker Co 113
Tcnn Copper f,2'i
IVaas Co 108
Texas Co rights 1S54
Teias Pacific 10'4
Third Avenue 02)4
Under Typer 00
Union Bag 4 Paper.... 0'4
un-on nag 4 I" pf 20M
Union Pacific .T5) 132U 132)1 111
union i-acuic pi 3 Nl 83
United Cigar Stores ... 03)4 93)4 93)4 54
United Fruit 148) 110)4 147)4 -H4
U SInd Alcohol 10751 10251 1G) li
USCIP4F 2151 2151 2151 15
U S CIP 4 F pf .... 5151 5H! 5Hi 1
United Hys Inv Co.... 1014 10)4 10)4 lh
Un Rys Inv Co pf 32 31 32 2
US Rubber 63 5114 5154 -1'4
US Steel Corpn 85)1 8451 84)5 - 51
US Steel Corpn pf....ll7if 117)1 117)1 5
U fa S R 4 M Co 73)1 72 72)5 )
U S S R 4 M Co pf... 621 52)1 52i 11
Utah Copper 82 Slli 81)5 5!
Va-Caro Chem 4414 44)4 41)i
Wabash i5!j 15 15 14
Wabash pf A 4054 10H 4515 51
Wabash pf B 28 275! 2751 ll
West E 4 M ftflf 0354 04)4 HI
West E 4 M 1st pf... 75 75 75 2
Western Maryland 32)1 32 32 I
West Union Tel 90)1 90)4 0054 14
Wheel 4 Lake Erie.... 3 3 3 )1
Willys Overland 238 230 230 8'!
Woolvtortn V W 124 12214 123 J4
Woolworth E W pf.. -1245! 12414 12114 Ji
Total ial. 613.000 sharei. rompnrrd with
5ziti0 "" JMtenlajri thun far thin wrck,
S'JttS'dS! mm period lust rek.
PRICES OF COTTON DOWN
FROJI FOUR TO SIX POINTS
Spot Interests Continue to Buy Near
Months Early Tone Steady
NCW YOnK, April 7 At the opening;
on the Cotton Exchange this mornlnff
prices were down 2 to 4 points, tho late
options showing the largest declines, due
to persistent Belling by Liverpool of
January and March.
About the only other feature to tho
trading was the continued buying of near
months by spot Interests, the selling being
scattered and apparently in most pan
for professional account The early one
of the market was steady.
The early decline carried prices about
4 to 6 points under last night's closing
figures. May seemed to be pretty well
taken at 18 points under July and the
active months sola back to within a point
or two of last night's closing figures be
fore the end of the morning. General
business remained quiet, however, and
fluctuations were rather irregular during
the noon hour.
The receipts of cotton at the ports for
the day were estimated at 20.000 hat,.
against 20.959 bales last week, 33,953
bales last year and 25,014 bales In 1914.
. Te. closo. Optn. High. Low Clow
March .... 12.6-J lSTol J2 50 ia.4T 1247
My 11 S3 1190 11 SO 1182 11 V,
JTUljr ...... 12.0tt 12 pa 12 O ll.M li.uf
December
January
DPOt
...,. 12.0tt 12 OS 12 O ll.M li.uf
ter ..,11.2a 12.23 12 25 12 15 12 1',
mber ,. 12 43 12 40 U.41 12 31 1231
ary ... 12 48 12 43 12.43 12 37 12 8T
..,.., 12.05 , ,, ,,.,, 1210
Liverpool Cotton
WVEHPOOL, April 7 Spot cotton to
day was quiet at an adance ot 6 points
on the basis of 7.52d for midupland. The
sales aggregated 5000 bales, including 4000
bales American. The Imports were 8000
tales, including 3000 bales American. The
market for futures closed steady at a net
advance of 1H Q3JS points.
DIVIDENDS DECLARED
United State Bubber. regular quarterly of
3 per cent, en Ant preferred and 1H per cent
ea aecoad preferred, payable Asrll 29 to Mock
f.
rrrii Aorll la.
Okla-hQuiA Natural Gi
M0OO
nmm
940UOO
31000
noon
(1000
nooo
30OO
jomi
21000
nooo
?noo
2000
HOOO
.vioo
nooo
7000
nooo
nooo
"ooo
tooo
tol ooo
213000
moon
asooo
JOOOO
totio
1000
2000
KIOO
3001)
IOOO
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000
(1CHI0
2000
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tooo
tooo
Iftoon
11000
2000
0000
.11VIOO
0000
lD.nno
1000
IOOO
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moo
7000
1BOIIII
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18SOOO
4000
01100
tooo
2000
loooo
IOOO
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nooo
NOOO
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7000
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11000
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1000
21000
2000
loon
.11)00
MIIMI
IOOO
noon
,'tnoo
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jiiiiii
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nooo
JIOOO
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4000
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2.1000
1000
1000
4000
HI H If I
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looo
2000
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looo
looo
snoo
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looo
12000
4000
nooo
lnoo
2000
Ultimo
nooo
2000
1 moo
34000
liinii
1 tooo
nooo
nooo
nooo
inooo
looo
looo
2000
2000
1000
loouo
Illfth.
Adnrn Exprm Is H
All lllrm 49 81
Anslo-Kr 1 Bn .M
Am Smelt Pec (! llo'i
Am Ti-I lit 4s. . tUH
Am Ttfl cvt 4'An 108.,
Armour Co 4 Vis BlU
Alchlion Ken Ii .. 04
ArKontln n . njji
llif Jb t)hn J .. Ill l?k
do t 4W
iiao v i.i.&wy 4
1! & O Sim SHn
lleth Htf.'l let n
ilo rfil "s
ill ns
llrook It T 4 . .
do ils llilR
tt.tah Tftn 1 1 trier r,4
IVnt t,ithcr 1t ns 101 't
lYnt mi w J in. i"v
Van Oov w I fn iJl I'OJi
.1.. Ifi Jil . . 07 V
.in uni . ..
Chill Coppor 7s
Ches & Oh 4 'is
Ches & Oh Gs .
Chi & Alton 3s
Chi Kist III Os
Chi lit Wr-st 4s.
U Nwn ns 11)87
i: ii ft w J1""' 1"
Is M 4 St r .gen Is
Ixiw. CI019.
81 84
81 81
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in '
87
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101
100
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lot 101,
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., t. u. t ... A U. lllll
100'i
I'M A Ht 1' Ben I '4 s
l ll ns rris in
Co Imliislrlnl Bs
Co K & I Ri"n .Is
Do (. Hud ron ns
D- & II 4s mm
Van Klo llr 4s.
liplrnlt I'nltp.l l4
I)ls Him or Cnrp os
Uric prior Is .
do cy 1 I ns
Clou I'.lPi Bs
Him f. M in in ns
Iown Cpntrnl rof Is
III Cpntrnl 4s Ml
do toil ..
Inlrrli Mot i'4s
t.i. f. Mn 1U. nil
III) Cl . . nn4
In i nru O S 4'4s . 80 5
.lpunsp 1'4r 8(1
Knn CIIn rfo r.s. PJJ4
l.iirlin SUppI Bs 1021 1)0
I.nrkn Stpl Bs 1(1.10 HI'S
l.nppil- (lis rfil Bs 102,1
I.k Sh iloli 4s 1IUS HI '4
I,or3 Islni d rfil Is
I.mil ft 7nsh Is
Mpx rt Co (Is Sor C
Mo Knn T 1st 4s
Mi) Kan ft T 2d 4s
Mo knn ft. T Bs
Mo far Is
Mo I' ip t Bs
Mont l'owpr Bs
N Y C & It 3'4s
N Y C (Is
M Y I' t lltiil l'4n
N Y C 3'js No IM
N Y Cltj Is 11)111
N Y Clt 4't1. llino
M Y l ll 1 4S hum
N" Y Clt I "As 111(1-
w v v l) t, if pi ;iiar 7j
N r X II ft It lis tl I'i
N Y Ont ft W KPn 4s 711
N Y llv ref 4s . 7D1
M V Ituv ,wll 1 10
N Y Stntp 4s 100J tOI,
Norf . Most 4s
Nor I'nc prior Is
do nun .Is
riclflt Tol Bs,
Pennu Ken ct 43 8
do en l!4s
Publlo Ppr N J Bs
Hop Ir ft H Bs
Hock Island rfd Is
dn Bs
St I. H V koii Bs
do rfd ct stu 4s
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renlioard A I,
Hnutli II, 11 Is
bouth I'af 4s
do c Is
du cv lit f n Bs
do rfd 4s
South lt con Is
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Third Avo iipw 4s
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Union I'ti' 1st
do cv 4 s
do rfd Is ..
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Va Cur Chin 1st Bs
IVnhasli 1st Bs. .
do 2d Bh.
Wpst KIpc cv Bs
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Wlutllns ft J. 12 -Is
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. . nnm nntx .......1 ..III,
JOtni SHIPS, i4,UJ,.llOl, -llHlill ...,
S I, oh 1 000 jrstcrdiiri thus fur this "u'
S.'ll,()80,000 sumo period last week, 511),-410,000.
LOWER PRICES ON CURB
Stories of Recall of Gerard One
Cause for Declino
NlTVr YORK, April 7 Lower prlcen In
Important Issues on tho Broad Street Curl)
were attributed to fenra ot unfaiornhlo
doiclopmcnts nt WaslilnBton, mid tho
stories of tho recall of flrranl and dis
missal of von Bernstorff wero employed
to furnish reahoni for recessions In prices
A- a mnter of fact, tho two lcadlntr
stocks, JliiU.ilo Steel and Cuba Cnno
Suuar. hao been In constant supply and
tho general assumption hns nroi.illed that
lirce blocks of theso Issues haip been
hnnein? oier the market since, tho be
ginning; of tho week Both these market
leaders declined during the day.
About 10,000 shares of World film
were traded In at 1H to the new low rec
ord of Ti, and Triangle Film sold at 3
to 3U.
INDUSTRIALS.
Hid
AJax Tlubbor U'i'i
Amcr-llrltlsh iltx 18
Amprlcin Marconi il
Atlantic Oult w I ST.
do nfd 48'.
Canadian (Jar co
ill
. 81
.10(1
. 01 'i
. 41
.1.17
. 54
. DS3
. 7(1
. 4J
. 21
. 20 h
. 71
. fl'S
''?
. 1 '
. IH
Can Car t t'dy Co
Chovrolct Motors
Cuban Cane Sucir
Curtlss Aeroplane
DrfffffSSeabury
Ulsentohr
do prof
Oaston Mlllams .........
Haskell ft llirker
lUndeci Munfc
Inter .Merchant Marine ...
dn pref
Kathodion Ilronza pref. . . .
Mnxlm Munitions
Manhattan Transit
Mldwilo BIrel
Otis KleiKtor ,
Peerless Motors
l'oolo nnfflnerlna
S S Krcsiie ,
Standard Motors
Submarine
Trlnnulo Tllm
United rroflt Sharlnz 1
11 I, II t P com ,,. 3'4
do pref 4
IVhlto Motors 151J
World Film 'J
STANDARD Oil, hTOCKS
Illinois 1711
Ohio 223
Prairie ripe .....210
8 o of California 248
H O of New Jersey , MJ
8 O of New York 2US
OTHER Oil, STOCKS,
Rarnett Oil ,. 3
Cosden Oil lo'4
Chalmers Oil n
Inter Pet , 12
Houston Oil 17
Midwest Reflnlntr (Ill
Sapulpa ,, , 12
... . MININQ STOCKS.
Atlanta ,...,..,,,, 13W
ltutto Copper hI
nutte n y "....,.;;,.. 3
Cerro ne Pasco ..,..,,.,, 38
First National ., 11
(loldlleld Mereer J 13
IlecU Mining , 4
Hone Sourd , r.'-i
Jim Butler ..,,.,,, 14
Jumbo Kxtenslon ,,.,,,,,,,,,,, 7(1
Milvinley-Darraeh 41
Matrma Copper ........,,.,,, ITS
Mines Co c( America 3
Nlplsslnc .....,,, TA
Han Toy, .. ;, 17
bt josepn jaa iiih
Asked
70
3st
40
A8
SB
(HH
IK
140
&a
To'l
4Ji
28
21'i
77
20
II
W
111
.2JH
West End Con
Aetna Explosives
Cerro Us
C ft Q 5s
Midvale Si. ,.
N Y City w
DONDS.
75
. 11
.117
n7!i
7'?
.102'J
3S
nu
li
170
221J
211
ntu
212
2'1
H
124
19
(IT
li't
Mw
88
i3'
(111
78
4T
17.4
IH'Z
f
ifi"
07
(IS
103
Free of Pennsylvania
State lax
A 6Y bond which iair First Mort-
jjaj;e on a fubJlc unHty
ation irTEiWtsim ,ianwsylv
pT1
Price to Yield 6;
FINCKE, BANGERT & CO.
Investment Bankers
Land Title BIdg.
fi.n,-a w ..1
miarterlv Gf lii fici- fvnl favahl. .t.Ti 4a
tj toclt et rscurd AsxU. 19. -
DmECToitr or ACcovntAxta
CerUHe4 fatUe AttoaatanU
iAWaicNcii b. iiiiow a ax
FRANCE TO SEEK
NO MORE MONEY
BEFORE AUTUMN
Provision Ample for Sev
eral Months' Needs, Gov
ernment Believes
ECONOMIC COUNCIL OFF
By YVES GUYOT
Hi Minister of Publlo Works TMllor
l Arrenca T conomkiue et Flnnnrlere."
Special Cable to Hvcntno l.cdocr
PARIS, April 7 Tho new loin now
prolHilily will be put oft till nutumn. ns
tho Government conildera Ub flnnncln.1
needs nsstircd until thitt time
The ccnnonitc conferenco between Kiib
lnnd and Krance to consider action nftor
the win, which was to lieftln this month,
also hai been adjourned, and It Is possi
ble: that the other economic conference,
which was unofficial, likewise will bo nd
Journed Tho only economic campalRn
actually 111 boltiR In that of the French
association which is trying to find a way
of pmentltiR purchases from Germany
after the war without also HtopplnB sales
to Germany it lias rather a. difficult
problem to nolle
The Trench stockholders ot the Thomas
Houston Company are crv much dis
satisfied with tho uay tho new Issilo of 0
per cent, preferred has been handled
Stockholders who did not receive notice
of tho new Issue sent In subscriptions und
nt once received tho answer that nil tho
stock had been taken Tho question Is,
who got It? Did those In the know sub
scribe for the stock before tho stock
holders recoiled their notices?
Local Bid and Asked
nuff d 'usfi t c
do pref .
J (1 llrlll ..
llnl.lv. In .. ..
dn pref
nici trii HtnniRn . .
ilfin nil Asphilt .
do pref
Kejston" TlI .
do t r ...
do prtt
1. 10 Hup Cnrp
l.chfull XiiMKHllon
I,i hlch Viilloj .
Lehluli Valley Tr..
do pref
Ponn i
I'hlla l;l.-o .. ..
mill to
di, 1 per rent or
do ll per cent, pr
1' It T I c
Itinilinr .. . .
rouopah llel
Turnip ill Mill
Lnlou True
ll (1 I
II H Htcel
l'ork lly
do pfd ....
Wm Cramp to..
Today
lllil Asked
17 '-a
Wi '4
Hi
1 tut
HIS.
ill '4
.'ni
1 l4
110 4
. Sill
. 114
. .10
. 41
. ls'5
M'a
, I '4
. 1's
,!,IT
. HSU
. HlK
U
. .Hl(4
HI
IN
no
42
ion '4
Hi'1'4
iij
-"ii
It
1 I
7".
lll
7.1 ' j
7H
.17 JS
27 14
II
III
Pt4
is;J
M't
IH
11
It's
ISS4
HIS
11
aits
Ml
Trstcrdn
Hid Ask, ,1
411. IS
nn'4 (iii'4
ii. n
107'4 los
Kill, ion '4
(11 '4 (t-'',t
.111 .ti
7
1 i'i
ll'4
711
I'-'lf
..'ti
71.
,1'i
11
M;.
.!,!.
?.". !'
2 J 'a
41
r.7
27 ,
ll'i
?ll
I I
ih!4
N1S H1N
4 11 10 I
1, 1 ..,
'i B "
4 I'i
r.7K
-7;i
."
,u.
1 1'',
int;
HIS
114
Wl'j
lls
in is
S.I
Ill's
HH
?2S
:in,i
st
BAi: SILVER
LONDON'. April 7 llir slher todiy was
quoted nt 2lSd. 11 ilicllno of 1 1 lllil
I ommorclil lu sIHer vns otiotfil in Now
York today nt (HSc. a declino of ',c
DltlDUNDS
i.Kiitoii ai.i.i:v K.vn.noAi) company.
I'hlladelplila. March IS. lulu.
The Hoard of lilrectors of the I-ohluh Valley
nnllrond Compiny lmo this day dtclared a
quarterly illililond of VAto (or hl.iSL per slinrsi
on Its profcrrod stock to stockholders of record
March 25, 10111. mid a. quarterly dividend of
ZWi (or S1.J5 pi"r hlinro) on lta common stock
to stockholders of mcord March 20, 1U1U, both
uaynblo April 8, 1910.
Checks will bo mailed.
C J KULT Treasurer.
Sates in Philadelphia
Id Am Css N J
4 Am Mill ..
R Am ltvijs . .
no Am I,oeo ,.
21 Am Cnn . .
Id Mild Loco ..
20 do pfd ...
IIS Huff A S t c.
1(1 Cam filed ..
10 Croc Steel
Itlfrh
120H
. :s
. 31
. 78
. CO'i
.100
100
. IS
MH
1 Cnlaw 1st jM M14
8 Kleo Stor 14
200 i:rte 37
10(1 tlen Aop ... 3(1
21 Ins Co N Am 2.14
70 Kcnno Cop . . r,7
fill ev Tele Co pr 70
40 l,nke Sup Corp lu'i
12 Nehlch Nav . j.1'5
mi i.oniRii VII
.1 l,h Val Tr
In do pref .
120 Miami Cnn
110 Pnnna 11 It
101 Pa Halt Mfe
1 I'ennn Hteel
107 do pr.-f
2o I I'hlla Cn
.is- I'hlla niec .,
1.1 P It Tran
31(1 do tr rtfs
20 nay Cons
If, ..., IH
IP 1.1.1, .1,1,,. ,
Inio Innopah lleltu
lO.'O Tnnnnnh It In
..It nloll 1 rnrtlnn T'
117 fulled (lis Im HSli
H30 IT S Sleel H1'4
s U'J K. Son .
Is Mrstmor Cm:
411 WCrnns Sons
H o York ltv ..
2(1 do pref
fa
Mi
loj
HO
"..
. 1R4
. HI
"l
44
"'.4
t.OW.
iao'4
?H
11
78
nn'J
10(1
1011
47'4
81 "1
ni'i
Mtt
ni
37
.1(1
!!-.
r.n'4
?8u
78
22 1
414
isji
B7 H
1014
80
IIS
$!
1H'4
HI '4
&
HS(H
Sl'i
fill
Oil 'a
It',
311 S
Close.
120W
74
8i
78
nou
100
1(11
47'4
81 H
01U
R3'4
(11 T4
37
30
B1'4
r,7
714
78.
12 ;i
n'4
384
.ft7
1(1 J
HO
IIS
ISvt
H4"4
4.
II
I1'4
HS'l
H4
no.
mi '4
si5
tin
30 "4
Net
Chtte
i
t
24
1'4
4
'4
4
'
- N
i'4
Totnl soles. (Hit shares, rntnimreil nltli (1180
shares MMrnln j thus far this week, 12,8(11
slmresi nne period, last week, 17, (lit snares.
$21011
.'I mo
tooo
nooo
40011
looo
3000
II lllil
looo
2000
1000
37i10ll
7000
3000
HONDH.
I llah
Am rt r 1:1 ns inii
Int In ltus 4s f.H
Uf Tel 1st ,1s IM
t, Nt ins l'4s 1o."4
I, Ben Is Ii I
do i; I r,s in lni'i
Phil Co mi lis IU'4
I'hlla lllc 4s. . N4
ilo ns . . . 104
I'Wftll t c Is tlll'4
Itemllntr im 4s 1)14
Nland Otis lis. in.'
I n lt Im ,1s 7T4
York itj 1st .Is lid
I riw
III
ns
lis.
liu'4
0 1
m-.'.
S1'4
101
no 1 4
01 4
I'll '4
73
till
Net
Close chRe
1114 4 'i
.18
lis
102H
III
tni.V
ni'4
S4
1(14
un '4
H4 '4
14
6(1
Total sales, SI 08,2110, rommreil with SO I, "00
yenteriliri thus fur this week, 9110,7001 snnir
period last eek, $111,300.
Information
About Investments
which can be relied upon la
een more necissary now than
diirlnuni dlnary times Our In
icstois' Sen Ice Department aa
the lesult of many c.irs of
ptudv and Batherlnp; of data Is
prepared to proiido informa
tion leBardinp; practically
cicry Inicstmcnt security of
mn nromlnencc This Informa
tion will bo f-ricn J without
chnrse to those inter
wo are iry deslroiu
esiors siiouui iinoii
able soiMco tlilsi
crltlcrsrf,
iwc
of our orinl7
wo hao prepared a bool
which etplains Ift detali'tho
cliar.actet ait thlr sen Iceland
wo will boM(l toSuAll it
gratis to thoso who upply for
Hooklet No 3G2
William P.Bonbright&Co.Jnc.
MORRIS WISTAR STROUD, Jr.
Manusrr
437 Chestnut St., Philadelphia
New York Doston Detroit
London Paris
William 1'. Bonbrteht & Co. Bonbrisht 4 Co.
NATIONAL PROPERTIES COMPANY. AMERICAN RAILWAYS
4.6 Definitive Bonds
will be ready for delivery at the
Title and Trust Company on and
These will be exchanged
crly indorsed, also exchange
scntca at tins oiiicc.
These bonds may be re
Coiitincntal-liqilitable Title
fof
dfo
alstjfrc
Trnti
CC of the Continent.il.Tnii!tnVl
ftter Friday. April 14, 1016,
tile negotiable receints when nmn.
t the.femporary bonds, when pre-
:d ni.fn nriiicinn! nt- thr nlTirr. nt tl.
Trust Company, Trustee.
CONTINENTAL-EQUITABLE TITLE
AND TRUST CO.,
. .. .T,n,e)fth St' above Chestnut, Philadelphia, Pa.
April 4, 1916.
INVESTORS TAKE ENTIRE ISSUE
OP LEHIGH VALLEY RAILROAD BONDS
Street Favorably Impressed by Rapidity at Which Ne
iVss Are Snapped Up Cambria Steel Equals
Its High Mark on Local Exchange
Ovcrshadowlnff cvcrylhlnR else in thi
local financial district today wan the an
nouncement that tho entire Issue of $10,
G97.000 bonds of the I.cIiIrIi Valley Hall
road Company, bearlhB Interest at tho
rate of y, per cent, hnd been sold to In
vestors by Drcxel & Co, who loui-ht tho
bonds from tho railroad on Wednesday
The proceeds will be Used by the rail
road for the purchase of additional equip
ment. Tho bonds were offered to Investors
by tho bankers at 101 and Interest.
The quick action of Investors In taklns
the Issue, tho first to be offered by local
bankers In about two Jcars Impressed the
Street very favorably There Is plenty of
money around nt the present tlmo waltlnR
for Investment and the rapidity with which
these bonds were taken shows very plainly
that when a hlglvclass security Is offeed
It Is not hard to find a market for It.
On the Philadelphia Stock Kxchanga
today, trndlnir was n train quiet. Prlca
movements were Irregular A feature was
the advance of Cambria Steel to "14.
which equals the highest prlco nt which
the stock has sold Tho top price wan
reached on tho sale of 40 shares.
Pennsylvania Salt rose one point be
fore the end of tho first hour to 102.
Philadelphia Klcctrlo was a fraction
higher, nH wns York Itallwajs preferred, "f
while the latter companj's common stock t
was unchanged Philadelphia Itapld
Transit unascnted stock was unchanged,
during tho morning and the trust certifi
cates roso a. fraction In the nfternoon.
Philadelphia Company common de
clined i.
Gasoline Company Stock on Curb
JJCW YOIIN April 7 Tho Pennsyl
vania Gasollnd Comp.iny, capitalized
$1, 000,000, nnd formerly the Hdro
Carbon Company, a nclaware corporation,
wilt bo brought out on the curb next
week. The company manufactures n,
lilgh-grnde gasoline, which It produces
from natural gas The company has leases
on oil nnd gas lands for approximately
5000 acres In McKoan County. This prop
erty, It Is said, Is less than 2 per cent,
developed.
Guggenheim Company Dissolved
NUW YORK, April 7 In n letter to
tho stockholders of tho Guggenheim Ex
ploration Company, President Daniel Gug
genheim states that tho company is now
dissolved The transfer books will be
closed permanently on April 18, and due
provision has been made for the payment
of nil Its obligations. The directors have
becomo trustees In liquidation On April
18 the company will have on hand for
distribution among Its stockholders !D,-(
879,724, nnd In addition 208,433 shares
of beneficial Interest of the Yukon-Alaska
Trust,
in which.
bond issues
from the
SINKING FUND BONDS
The meaning and operation of a Sinking Fund Is clearly
described in our
bone circular
ther attractive investments, are several
ody ths important feature. The income
red ranees irom
.550 tp6Vz
TAX$Si,rN PENNSYLVANIA
The Circular will bo furnished on request.
BANKERS
Established 1892
Members Neio York arid Philadclrhia Stock Exchannes
Broad and Chestnut Sts., Philadelphia
30 Pine Street, New York
APRIL
with Anan- i
winch ehq
securities joue
h
FREEW
Statement of
Mutual TofsjCompany
b;
At the close of btisi
ASSETS
Casli and Due from Re
serve Accnts $104,503
Loans on Collateral 453,956l
Commercial Paper 225,94 71
Bonds. Stocks and Mort-
catrcs 33879.47
Real Estate and Fixtures.. 72.54000
in
ding
.. . 3
ss March 30, 1916
$1,191,853.85
'Liabilities
Capital $438,043.00 U.
ijurpltis and Undivided
Profits 80,327.80
Deposits 573,483.05
Bills Payable 100,000.00
$1,191,853.83
bYUKI'V HTltl'lVT. Jrt rrerililent -.M. II. Kl'HSI.KK. Sec'y tl Treasurer
KIlNKKTIl n. CHAN ronn, Title and Trust Officer
DIRECTORS '
W I KOCH M. W. NHWTON HYDNEr KTJIKBT
J; , .,, 4 t a il ni'lVrHiinnnn JOHN' Wilson
j.' i Moiuii Daniel a. stkelsian walteii ic woolman
C. T 1IANNA
V. C IIANSIIMj
II. F. 1IANSKLL,,
jn.
$3,000,000
TAKER-GL FSSNER cd.
FIRST AND REFUNDING MORTGAGE i SINKING FUND GOLD BONDS f
nun Anrll 1. 11I1 '
TAX REFUND IN PENNSYLVANIA
y
any (mi
j
b-
First mortgage on substantially all property of the Company fau
ject in part to $700,000 bonds to be called for payment June
1, 1916.)
Company, and predecessor company, in successful operation for
nearly half tt century.
Company owns five long-established and successful steel manufac
turing plants, including the plants and entire capital stock of
WHEELING CORRUGATING COMPANY.
Property appraised at $7,000,000. Total net assets $13,133,994,
or more than 4 times these $3,000,000 bonds.
Net earnings 1915 nearly 8 times, and for last five years have aver
aged 5Yz times these interest requirements.
Sinking Fund, beginning 1917, retires at least 66 2-3 of total
issue before maturity.
Price 98 and interest
LEE, HIGGINSON & CO.
43 Exchange Place
boston New York Chicago
HEWLETT A. SEALEY, Philadelphia. Representative
Land Title and Trust Building Telephone, Spruce 2992
The statements contained herein are not guaranteed, but are based upon Information and advice
which we believe to be accurate and reliable, and upon which we have acted In purchasing
these securities.
D
rA
TrMy"-t.
BTTirtiif 1 1tttelrrtrltirmBiiliinfillTliiiitfirilMfitfil
r m .T' tfTrte"