APRIL !' 1916
id
EVENING LEDGER-I'llILADELPirrA,
MDNDAY,
-
V
1
FINANCIAL NEWS
GAINS OF ONE TO EIGHT POINTS
ESTABLISHED IN THE INDUSTRIALS
Buying Orders From Important Interests Instead of Of
ferings by Active Bear Traders Ma
rine Issues Strong
NEW YOltK, April 10.
The benr (lenient tost nil Incentives for further operation-) for short accounts
with the correspondence between the Oermnn Porelpn onico ntul the State Do
linrtment over the Susnex disaster. As Wall Street views It, the news published
over Sunday, Including the statements made by Minister Gerard, leaves this Gov
ernment wlthoufki basis for positive action and precludes any diplomatic rupturo
for the present nt least.
As nearly all the short selling last week was on the belief that diplomatic
relations with Germany would abruptly close, this condition, which Is now estab
Ushed, has taken the foundation away from the bear operations.
There was no offering of stock by any of the active bear tradeis this
ntornlnfr, but Instead Important Interests had buying nrdeis in many Issues,
and vigorous advances resulted In tho early part of the forenoon.
The Industrials as a group rose from one to eight points, with wide openings
In American Zinc and Marine preferred. Tho buying of Marine common was
bf nn Impressive character. At fit st. Kutcr and Gross were tho heaviest bucrs,
but In the last half of tho forenoon, Foster & Lounsbury weio persistent buers
of tho stock.
Tho room assumed that the strength In both tho preferred and common
stock was duo to tho showing made In tho statement Issued by the common stock
holders' committee, but there Is reason to believe that Standard Oil interests bavo
been acquiring both classes of stock ever since the company was put In receiver's
hands, and It Is possible that It may bo placed on the list of Rockefeller corpora
tions soon. Around midday the pool buying of many Industrials ceased and re
cessions were then In order.
GREATEST ACTIVITY IN FEW
DAYS ON COTTON EXCHANGE
1'
I
Tone Is Steady, With Prices 1 to 3
Points Higher
NEW YOIIIC April 10. There wns
moro nctlvlty on the Cotton Exchange
this morning than thcro had been In 10
days or moro and tlio early tone wns
sU&dy, with prices 1 to 3 points higher.
Tho feature of the trading was the per
sistent selling of nearly all options for
Liverpool account. Spot houses were
buyers on ft small scale of May nnd Wall
street Interests purchased limited amounts
of other positions
A tendency was noted on the part of
now buyers among the professional to
take the distant options, presumably as
a "pcaco" purchase After the call busi
ness dropped oft somewhat but prices held
steady.
Temperatures were low In the cotton
belt this morning, with virtually every
station east of tho Mississippi lller re
porting heavy killing frosts, siuuems
said tho frosts were without Inlluence
either on the crop or on values. The
barometers indicated continued clear
weather and higher temperatures.
t Liverpool quotations were somewhat
below expectations, showing advances of
34 to 5 points at the time of our open
ing, whereas they were due to come ."'
to 6 points higher. Business abroad wns
small, but the market tone was steady,
private cables said.
Sat. clne. Orwn. It a.m. 12 m. 12.30
March 12..' l-'.r.N
May 11 110 11.87 11 lit
July 12.0S 12.0S 12.01! 12 0'. 12.0".
October 12.22 12.23 12 22 12.211 12 20
December ..12 3S 12. HI .... 12.3S 12 3S
January 12 13 12.43 12.-U
Liverpool Cotton
LIVERPOOL, April 10. Futures iulet.
3Vj to 4 points advance. Sales S000 bales,
Including 6300 American. May-June,
7.4 B July-August, 7 14; October-Novem-
beflK.SO; January-February, 7.23.
RATES FOR MONEY '
Call. Time
New York 142 2'4W3i;
Philadelphia 3 '3'j 3 M4
Boston .1 4 Hi h
Chlcazo 3i W4 HH't
Commercial paper, 3 to t months, Philadel
phia. 3tf3Mi per cent.
Reserve Banks' Discount Rates
10 or Over 1" Cher.sn Oxor r.O
les. up to an up to no. up to no
Boston 3 3i I 4
New York . . a 4 4 4
Philadelphia.. 3 4 4 1
Cleveland 3H 4 4 4
lllchmond ... 4 4 4 4
Atlanta . .. :ijj 4 4 4
rhlcaen 34 4 4 4
Ht. louls ... 3 4 4 I
Minneapolis.. . 4 4 4?
Kansas City. 34 I 4 4 4
Dallas 4 4 4
San Francisco 3 34 4 44
ARrlcul. Trade acceptances. Com
Oxer no. Up to no. uu to nil. moiiity.
rioston ... 4 34 34 34
New York fi 34 3 4
Philadelphia. .4 4 3. 3 3
Cleveland . .1 3 4 4
Jtlchmjnd . . IS .14 4 3
Atlanta . . .'. 34 4 3
Chicago . . 3 . ,,
Ht. Louis ... A 34 34 3
Minneapolis.. 5 . .
Kansas City.. 3 34 34 3,
Dallas 4 4. 4 4
San Francisco 54 3 34 34
Hn to nil dava: over 30 to HO. 4 per rent :
over 00 to DO, u per cent., and over UU. 0 per
cent.
ItAIL MEN HEAR GOVERNOR;
NO MENTION OF $1000 GIFT
Brumbaugh Applauded as He Speaks
at Memorial Services
" Governor Brumbaugh spoke yester
day at the annual memorial serv
ices of the various railroad brotherhoods,
held at the Forrest Theatre, Among
others who made addresses were Mayor
Smith, who presided; State Senator It. V.
Farley, of the 5th District; the Rev. John
a rant Newman, the Itev. John J. Wheeler
and representatives of the brotherhoods.
The Bervlce was opened by K. If. Tom
i llnson, who Introduced Mayor SmUh, who
I assumed the chairmanship of the meeting.
He said his sympathy was with the va-
lv rlous orders, and Bpoke of his early con
nection with the Pennsylvania Railroad,
He told the audience he had come from a
family of railroad men; his father had
worked his way from the position of con
ductor to that of chief train dispatcher, he
said, and two uncles and a brother were
In the service. A relic of interest to the
older men was a silver badge the Mayor
took from his pocket, and which he said
was the only "uniform" worn by his
father when a conductor. It had Inscribed
on It "From C E. P. to T. B. S.." being a
token from Charles E. Pugh, a former of
ficial of the road, to his father.
! Senator Farley paid a tribute to the
i Governor by telling the trainmen they
jj had Governor Brumbaugh to thank for
the idea of safety first. He also urged
' the trainmen to follow out the plan of
arbitration In their dealings with their
employers. Arbitration, he stated, wpuld,
, ultimately, displace all disputes overlabor
In this country.
The lower floor of the theatre, which
was tilled with the friends and relatives
of the trainmen, broke out In applause as
the Governor came forward, as he said,
to commemorate and honor the life of
Bervlce of the men who passed out during
the last year He said the growing ap
preciation of the ulue and loalty of the
worker by the employer waa demonstrated
by many recent occurrences, examples of
which he gave in his talk. "There Is
nothing liner In all the systems of
thought, ' tie said, "than the service of a
mail who stands in his place and does the
thing which devolves upon him to do.
Tbefce men. In whom na place care and
human lives, are vital to society" The
tjovernor maintained that the compensa
tion ace was the moat Important law
!HUuS;d in the last 50 or 180 years.
TIib rollciill of the mwauera who died
i fund. od aii uujwwtuvo effct fol
l-Wfcd in the tuwcrwg uf th Uglit. during
hivl t trngUi heI, fatotljt
New York Bond Sales
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FOREIGN EXCHANGE
NinV YORK. April 10. The nurltet for
forelKii exchange In tho first hour of busi
ness today wns dull but steady. French
exchange waa quoted at tho low of tho
mnement reported on Saturday C.OUi for
cables and C.02 for checks. It was thought
In exchange circles that a lower figure
on banks would bo made on actual busi
ness. In other clnsses of exchange the
changes In rates wero negligible. Quota
tions follow Demand sterling, 4 "G 7-1G;
cables, 4.77; relchsmarks, 72'i 72 15-1G ;
lire cables, 0 3S, checks, ii fifc4, Mwlss ca
bles, C.17; checks, il7ij. Vienna. 12.I76J
12 39; .Stockholm. 30 lOCi 30 20. pesetdK.
19.4r? 19.50; guilders, 43Q43 1-1C; rubles,
31.40CP31 43.
DU PONTS DENY CHARGE
OF LOBBY IN CONGRESS
Powder Company Head Says
Government Nitrate Plant
Was Never Opposed
WASHINGTON", April 10 The speech of
Senator Underwood, opposing the Govern
ment entering Into a contract with du
Ponts, in which lie charged that Charles
II. Landis and Hugh I.. Cooper had been
here lobbying against the passago of a
bill authorizing tho establishment of a
Government nitrate plant, has brought a
denial from Pierre S. du Pont. Mr. Under
wood replied that If lie was mistaken In
his denunciation of these men, he would
read any letters of explanation they might
make and have them Inserted In the Con
gressional Itecord.
Extracts from two letters by air. du
Pont follow:
"We regret to talce exception to your
statements on the floor that wo had en
deavored to Influence Congressmen against
tho Muscle Shoals proposition. We have
neer. In any way, made any such en
deavor, nor has It been our Intention to do
so. We do not desire to keep the Govern
ment, or any Individual or corporation,
from building a plant for fixation of at
mospheric nitrogen. Nor Ore we solicit
ing the business of manufacturing nitiiu
acid for the Government.
"The United States Is today In a posi
tion never nerore Known to any nation.
Among the greatest. It Is alone In a con
dition of peace. Magnificent iu its finan
cial and commercial development, power
and strength, It Is weak to the despair
of Its citizens, be they rich or poor, In Its
preparedness agalnSt outside attack. Never
has there been more willingness to do,
coupled with less power for the doing,
than now. Never has there been greater
necessity for mutual faith and for co
operation. Let, then, each man bear his
part of the burden as best he can In the
cause of preparedness,
"Referring to the project of damming
the Coosa ltlver, I do not remember hav
1ns heard of It before, nor can I find any
one prominent in the affairs of this com
pany who knows of the project or its
purport Therefore, I state most posi
tively, that our company, or Us agents,
had no voice whatever In Its defeat."
BLAME "FIREI1UG" IN BLAZE
Flames in Unoccupied House Rouse
Neighborhood
A Are believed to have been of in
cendiary origin created great excitement
In the neighborhood 'of 2935 Venango
street early today When a vacant house
at that address blazed up the residents
In the neighborhood began throwing
household goods from windows, believing
the flames would spread to the adjoining
frame houses. The Are was discovered
by Mounted Policeman Gross, and ex
tinguished with a loss of J250. The po
lice believe either a "firebug" or a tramp
set Are to the house, which Is owned by
Thomas Rzepska, of 3173 Richmond
street
Von Papen Reported in Holland
LONDON. April 10. Captain Franz
von Papen, former military attache
of the German Embassy at Washington,
whose recall was requested by the I'nited
States Government last year, has been
seat from Berlin on a secret service mis
sion to Holland according to the lUily
Chronicle a Amsterdam correspondent
New York Stock Sales
r.st
close
l'.IH
2SU
77
07
rvi
12.30
llkh Irfiw r.m.
0'S 1H 0S
2(1' i 2M 20W
29' 4 21V4 204
77 77 77
07H 07H 07'
71J 71' 717
100'f 1(M)5 1(X) Ml1 1
. no oi oo; ni
mi r2H r,2)i r2'
28 28' i 28)4 2.8'4
2.1'i 21 23H 21
. 10 -10 -10 10
. 77JS 78JS 7754 7
102' 5 102 1(U 102
I()l( 102H 102 102'4
.IDO'j 197'1 107f WVi
. fiO't )( )' BO'f
!).-l OOH 9.Vf O.V
87 MPS SO'S
10.1 10314 10.T4 103'
108' i 100 100 100
lDfl'f 107j 100'4 107' i
87 87 87 87
MH 80'4 Ml'i MP
Alaska J Gold M
Alaska Gold Mines
Allls-Chalmers MfB
Allls-Chal Mf pf
Am Ar Chemical
Am licet Sncit
Am Drake S X V
Am Can
Am Hide A I, pf
Am Ico Securities .
Am Unseed
Am t.lnsccd pf
Am Locomotive
Am bocomoiho pf .
Am Smelt & lief
Am Tobacco
Am Woolen
Am Zinc t, X Sm
Anaeonlla Copper M.. 80'(
A tell Top A S K
All Coast bine
Haiti t,oro Wks
llalt X Ohio
DrooUvn Han Tr
llronn Shoe pf ... 07 1)71
llutlo A Superior . . . 0l"f DOM
Cal Petroleum . . . 2.1 2.T4
Cenlral Leather pf 110,'ii 111)
Chandler Motor . . .
I hes A Ohio
Chile Copper
chlno Copper
Chle.iRO (It West'
t hlWIII A St P
Chi II I A Pae
Col I'uel A Iron
Col A Southern
Continental Can
Corn Products Hef
Cruellile Sleel
Deere A Co pf
Detroit Iinlteil ll.is
Distill Sec Corpn
Dome Mines
Krlo . . .
Krlo 2d pf
General Klectric
Goodrich It f
Greene-Canane.i
(1 N rfs for ore prop
(lueeenhelm Ihpln. . .
Illinois Cent
IiiRersoll-Haml ... ,
Int-Met v t cfs
Int Con Cor v t c sh
Int Con Corpn pf. . .
Int Paper . . . .
Int Paper pf
lnp Con Cop . .
Int Nickel v t fs
IntM M eof dp
Int M M pf f of tip
Jen el Tea
Jcncl Tea pf
Kan Cltv Southern
Kcmiecott Copper
Kenkuk A Des M
l.aeledo Gas
I.co Hubber Tire Co
booso-Wlles Hlscult
Manliat Kiev eld..
Maxwell Motors
Mat Motors 1st pf
Max Motors 2d pr . .
Minn A St Louis
Minn A St Louis pf .
Mexican Petroleum 10')', ltl4
Miami Conner . 3SS, 3.V,
Mo Kan A Texas
Nat Hlscult
Nat L'nam A S Co .
Nat Lead Co ...
Nov Con Cop
Ne York Air brake
N Y C A 11 It
Norfolk A Western
North Amerlean . . .
Northern 1'aelflf .
Ontario Mixer Mln
I'ennsjlvania It It
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ixriiTTt a m -nTJTrtmci turn
BY GOOD WEATHER
Easiness at Liverpool Also
Helps Drop by Causing
Early Selling
WI-.ATIIKIl CONDITIONS
M'.W (ltl(. April 10. Attilrrs re
relirtl nt the Vlrnther llnrrnit this mnrn
Inc tmllrnlril the follnnlnic wrnlhtr con
lltlnnst Temnernturfs
licit. l.on.
t'nnntllun Norlltet .. elenr III 3D
Nortlmrvl .... rlcnr IS SJ
Xllilille Hest rlenr II 31
.i)UtlnxrM .. . . rlenr 01 42
t pper Xllnlslnpl n, .elenr 40 "2H
Utnfr Vllsslsslppl nl.. rlenr 3J 3S
Ohio 11llr1 . . ...rlenr 41 . .Ii .
Hie fnllnliiK prrrlplliitlnn (In Inches)
tviis repnrleilt .01 nt t lexelnnil, Co
Itimlms and Xllnnesntn, nml ,03 nt l.lklns.
CHICAOO, April 10. Thero xxn fur
ther RcllliiK of wheat today under the In
fluence of fnvornblo weather for the crop
and uneasiness nt Liverpool. May started
nt $1.1C'1 (Trl.lG nnd sold down to
$1 15'4 before the end of tho ilrst hnlf
hour, compared with $1.16 nt the end
Saturday. July started nt $1.11 to
$I.13'4, nBnlnst $1.11 nt tho close Sat
tirdnv September opened nt $1.12 nnd
sold tlnxvti to $1.11. nRnlnst $1.12',i nt
the close Saturday. Covering caused rnb
Ilp from tho bottom.
Sentiment wns divided, but It wot be
lieved Hint tho technical position of tho
ninikrt was' n little stronger, The Knc
llsh marltet xxns nffectcd by llficrnl shlp
ineiits to the United Kingdom and In
el easing stoclts Ilujcrs abroad, however,
looked upon present prices as attractive
nnd the demand from the Continent was
reported better.
An olllclal report said that the nrea ot
xx heat In the United Kingdom showed a
decrease of 8 per tent , with the condi
tion model ate. The weather thero slnco
April 1 has not been good,
l'M'orls from North America for the
xx-eeh xvrre 8,030,000 bushels, the t'lilted
Kingdom getting 4.071,000 bushels, llot
tertlttm 1,380.000 bushels nnd Krance
l.L'DO.non hushels. Tho icrviptfl nt Min
neapolis nnd Dtiltlth today xxere IB cars,
ngalnst 210 r.ns List year; nt Winnipeg.
C28 cars, t'omp.ued xvlth 2S7 cars; nt
Chicago. 170 cars, ngalnst 2G cats.
Coin also Impi nved nftei slum lug easi
ness nt the stmt, when there xvas selling
line to good xxiMthcr und libeittl suiiplles.
The niuiket nt I.lxeipiiol xvas Drill The
itcelpts beie today 'wero 08 cars Advices
f 1 inn Argentina xxeio poor.
Oats also Milled after slight lushes nt
the outset. Shipments ft 0111 Noith Amer
ica for the week were 2.501.000 bushels.
The iccclpts hero todny xx'ero 103 cars,
3'
12.1'
2.V
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..7' I'jpj
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I'ulliujn Co
Hay Con Copper
Heading .. .
Hock Island pf . .
St Louis A S K
St L A S K 1st pf
St I. A S I' 2d pr
Seaboard Air Line
Shat Arl? Cop . . .
Southern Pacific . .
Southern lly
Southern Hy pf.
Studebaker Co . .
Term Copper .
Tens Co
Teias Co rlslils
Texas l'aeifle
Twin Cltv It T
Cnlon HaK A 1'ars-r
Union Pacific
U S Ind Alcohol ..
United Fruit . . .
I'srifi k
u s c 1 i' a r pt
li S Hubber
f h Hubrer 1st pf
i; S Steel Corpn . .
U S Steel Corpn p. ,
U S Sm It A M . .
Utah Securltlei
Utah Copper
Va-Caro Chem
Wabash
Wabash pf A :
Wabash pf 11 ...
West E A M
Western MarUnd
Wist Mar land pf
West Union Tel
Wheel A Lake Hrle
Wheel A I, K 1st pf
Wheel A L E 2d pf
Willys Oxerlann
Willis O pf s r f p
Woolnorth F W .
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NEW YORK COFFEE MAKKET
N13W YflltK. Apt 11 10 At tin-opening
tills morning the coffee inaiKi't xxns nguln
steady xvlth first prices l to 0 points higher
1111 M-attcifd rtiiiimlHNloii biitn-f buying
piomiitcd by the coiitlnuetl stfengtb in
llrazll. Sales on the call xveie l.t.DOO bags.
Tmli's Siitunl-ii's
lllltnltlK I lose
March s 735fS 73
.Xnrll NSiUfN.L'S
.Xlav S33 S-JSMS.ll
June S330CS.31
.Inly s. ly i.WW.:i'i
Aiwust "s 4K si:ii(iN. II
Keptemher K.33 s, IS(itS..1!
Ofluher s ,-iN s..",iWS.33
Nnxeinlisr 'K On S 33WH.3II
Deremlier N ft" S .vitiN.ilo
Janutiry ". H. Tuffs. 7.", n cifn'S 03
IVhruiry 8.7.3BS so WI'IM S.7U
UM Total siilcs, 1 1. nun Iuirs
RAILROAD EARNINGS
1110 on.vNiu: socTiinitN
11)10
1'iiurtli xxcek March.. S1II..I4H
l'rotn July 1 U8.3U4
ILLINOIS ClINTltAI.. -
March uro's 13.702.083 J038.S38
YAZOO AND .MISSISSIPPI VAM.IIV.
fncrense.
J4.07II
013
March itrnis
Dtrrense.
JI)!)3,7Sl
J 1.278
GOVERNMENT HONDS
niii
2s rcElstercl 1030 Ill)8;
2s (allium 1II3II DU",
:ts rcKlstereil 1II1S liil
3s coupon HUM lni'i
4s registered 11)23 ltn.
Is 1 oupoti 1U23 ..lll'-i
I'anain.i 2s rinlsti-ri'il 11)30 Dlilj
I'.iiiuiiiiL L'M reiilHtfi nil Hl.tS 1)1)'
PallJina .Is reulstereil IIHIl .
I'.inama 3s milium. .. .
Askpil.
inoVi
10JI
102 '5
..HUH
BAR SILVER
liar sllxer xxas nuoteil In Lomlon today at
2') tl'lild.. nn tiilxance uf 'Id.
18
8-"i
4l'j
15' 4
154
274
0-1' a
32'-
18' 3
00
!'
I3T
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2.-l3
101',
121
DRII'l'S MAY FIfillT DARR0W
AXI) Ii0(!UE FOR CONCURSS
Former Safety Director May Enter
G. O. P. and Independent Primaries
Representative Oeorgo V. Darrow faces
a three-cornered flrht for tho Republican
congressional nomination in the Cth Dis
trict, which comprises the 21st, 22d, 21th,
27th. 31th, 10th, 42d, 14th and 46tli Wards.
Cx-Senator John J. Coyle has announced
I1I3 candidacy for the Republican nomi
nation, and the talk In Independent cir
cles In West Philadelphia is that Robert
D Drlpps, ex-Director of Public Safety
and formerly leader of the Independent
forces In Councils, will enter tho primaries
for tho Republican nomination.
Workers in the section across the
Schuylkill say that the Citizens' Repub
lican League xvill be beliind the Drlpps
candidacy In the Republican primaries and
that the ex-Director also will place his
name on the Washington party ticket.
Drlpps will be opposed for tho Wash
ington party nomination by J. Washington
l.ogue. ex-Congressman from the district.
Also he will ba a candidate for the Demo
cratic nomination.
R.A
cqL
DAIRY PRODUCTS
(SATURDAY)
The market reported herewith clres
Saturdays ilolnc prices aid not those ot
the day ot publication. Toaay's prices are
quoted la the Mint Kxtru Kditloa of this
paper ana ull succeeding sdltlons.
I1UTTKR Supplies of solid-packed cream
ery, as well as of prints, were small and values
xxere steadily maintained, but. as usual on
Haturday. wholesale trade was quiet. Quota
Western, fresh, solid-packed creamery, fancy
special. 3'Jc. ; extias, 37c.: extra firsts, 30Hc;
flrsts. 30c. seconds, 33W33Vic. : ladle packed.
211027c.: nearby prints, fancy, -10c.; do., aver-
Ke. extra. 30c ; do., firsts. 373Sc. ; do., seo
pevia, 44I.I.J1 IH.W. u. I'riuie
td
tea
ons;
na SSiS3Bc
Inkklni u J't-ltU..
x. ml ha murli.t was In booA ahatM)
Arm, with a steady demand that kept supplies
oi desirable stock well cleaned up. uuouiluns:
Nearby extras, 20c per doz , nearby firsts.
ts T.i ru, fbu. nearby current recelots. SU.aO
per case: Western extras. 21923c. per doz.;
do extra firsts. J8 73 per lass. do., firsts,
tl per case. Southern. J8 15g -(Sper case,
as to quality, fancy selected, tandlsd fresh
ergs were Jobblnr at 27020c. per dos.
With nleasur
Kdiing Harvey
our firm.
PAR
1500
Uembera of thNew
Sl&k Kxcha
rvxre announi that Mr.
Is now connected with
M'alnut Street
York Ind Phlladelshla
11 iiiiipiiii 1 inisiinimiii
A
PUBLIC SERVICE
SECURITIES
"The dependence of mu
nicipalities on Public Service
corporations is the strength
of their securities."
C, Vve recommend for your con
sideration the cumulative preferred
stock of a highly successful Public
Service Co, serving one of the fore
most cities of th? South.
C Dividends have been .paid on the
preferred wit notlt lapse since issuance,
and on the common since 1912, thus,
showing a very healthy condition.
G, The franchises are eauitahle, the
management progressive but conser
vative. C, At present the yield is 6.86.
C Fullest investigation requested.
Bake!? Aylirvg . Co.
Lavtd Title Dldg. Philadelphia,
Washington
Terminal Company
1st JfldytgQce 'A'fts
Uuebruaf
I'rlceSwi Appli
vl 1J45 M
leatlon, f
W"'1"NJ.'IMIWL J-'UmWUUPII. Il I M
Phila. Sub. G. & E. Co.
1st Mtg. & Ref. 5 Gold Bonds
Int. Feb & Aug. Due 1960.
Bonds Guaranteed by The
'A'nttGas 1G0J
To W&
Tax Eift!mpt in Penna. '
-HEED A. MORGAN & CO,
WKST EMI TKU&T lll.IKi., Hllia.
Members of the I'lillu. btoek Kxrliance
INVEST IN MORTGAGES
AT 5.'
Recommendd by
BEN T. WELC
1328 Ch.sfcut St
s .ssH
OIRECTOBY OF ACCOUNTANT
Csxtlllsd Pulilla Acteoataats
LAWUKNCiS U. lUiOWN CO.
5S19 SXfTTAT iUUUt liUlUMNO,
I Sales in Philadelphia
Yesterday's 12 30
eloso. High. I.OXT. p m
100 Am Loco .... 78 7S',i 78'i 78's
M Am Oss ... lilOU 120 120 120
4 Am ity rfd . no no'i no'i no'i
10 II ft 8 t.... t8 48 48 4S
10 Ilrlll. JO.. 42'4 30's 30'i ai'4
1 00 Chlno Cop... Bl BS M B5
300 I.nko Sup Cor 10'4 10'! 10U 10'i
no lh V Tr.... 22 224 22H 22'4
000 .Vev Cons ... 17H 17'4 174 17v,
H8 l'enna It II.. n7'4 MH B7 n7'i
r.O Pa Snlt MfB 102 102 102 102
120 Phils Klectrlc 27 i 27 27 4 27 H
205 ncsillnit 81 '4 80 U 844 B.V4
41)0 Tonopah Mel. ti 4'',, 4"u 4"ts
130 Tononah Mln. fl '4 0 OH
fi Union Trnct. 4.1H 43't 43"! 43,
207 O S Steel.... 84 4 8SH 84 8i K,
10 WestlnRli Hlec 0.1 H 0.1 4 03 H 03 H
403 VV Crainn & 3 8.1 "4 8Si 83 'i 83 H
IIONDS.
l.nst nrev. 12 30
sole. Itldh. Low. P M.
7onn A O A ni Rs.. 03'4 034 l3'4 03H
8000 DrevM Co rets
liVwl 4'4s .. 101H 101H 10IH
1000 Hsrxv'il Kl fls.10214 102'4 10214 102H
10000 Int'lo rtxvis Is B8 B8 H8 B8
3000 I, V Tr 4s . . 03 HI 03 03
3000 Pa Co n I '4 s 102 102 102 102
noon do ens IHb 111.14 HW'i 1034 1014
10(1 Phlln Hlec 4s 81 834 834 814
3.100 do r. lot 1D4H 101 llll1,
4000 Un Itxvy Inv (is 7.14 7.14 7.1 7.1
2000 VUIlivy 1st Cs DOU 004 004 0(14
Financial Briefs
LOCAL STOCK LISTING COMMITTEE
TO REPORT ON BROADENING MARKET
Recommendations Will Be Made to Governing Body
Next Monday To Trade in New Securities in Un
listed Department Cramp Shares Strong
Tlic N'cxv Yorlt Subtrcniury Rnlnctl
$707,000 from the Imnltn on Saturday,
making a cnslt net Bain slnco Frltlay ot
$1,220,000. -
The Twin City Itnpltl Transit Company
reports jrrosq enrnltiRH ot JSU.Iu fur
.March, an Incrcato of $62, ?,C,0 over the
corresponding month nt last yenr. Its
Broil enrnliiRt for tho last threo months
xvcro $2,163,827, nn Increase of $213,772
moro than the same three' months last
J car.
LIVE STOCK QUOTATIONS
rlllPAOO. April 111. HOCIH Iteerlpti,. r.0.
000, market 1", to 211 lenls lower Mlxeil nnd
butchers. Jll 20t0 ill- cooil henxy. lli.3riM0.nn;
rotiKh Imaxx'. $lMl.1Hsli,:iii; IlKhts. 1i UIWU.Iw;
nlKs. S7IMiffi8.i)1: bulk, in 4UVD fi."
I'ATTI.K llecelpls. 20,000. .Market steads
to 1." cents limer. Ileexes. I7.4IKIDIO; ins
anil hplfers, S3 7."i?8.ti0. storkors anil feed
ers 10 I0W 8 SO. Texnns. 17,2.1 1 0(1, calxes.
ISUHt 2.1
Slll;UI' Hereliits. 13.0nn, lnnrlrt steailv
Nntlxn and Western. Jllfflli.2.1, lambs, IS 70 W
11. SO.
DIVIDENDS DECLAHED
Municipal Service Company, quarterly of 14
per cent, on preferred stock, pinxblo Mnv 1
In storlihnlilers of record April 22. also a. divi
dend of 1 tier rent on the eommon stoik.
paxiilile April lfi, to stockholders of record
April 8
The Stock Mstlnrr Commltete of the
Philadelphia Slock Exchange has held n
meeting for tho purpoo ot discussing
means of brondenlng tho Philadelphia
market by listing additional securities,
nnd this commlttco will make Its report
to the Governing Committee nt tho next
meeting of tha bodly, which will tnke
place on next Monday afternoon.
It Is understood that the lasting Com
mittee will make n few recommendations
nnd nmong theso xvlll bo that trading bo
carried on In securities not listed on tho
Kxchnngo In tho unlisted department. For
the Inst txvo xveeks there has been tnlk
In the Street of broadening the market by
the listing ot additional securities, and It
Is understood that this Is one of the xxays
S
xxhlch the committee thinks xvlll nccom
pllsh this purpoic.
One Rccutlty xvlll bo taken In linnd nt
a time nnd xx'hcn this has been admitted
satisfactorily, others will be taken up. It
xx-ns pointed out today that none M tho
rules of the exchange with respect to
listing of securities wlll-ho changed that
Is not materially and that they will ba
Just ns Rtrlct as heretofore.
Ovcrshndowlng everything elso on the
Philadelphia Stock Exchange today wns
Cramp stock, which advanced IH points i
before noon, on the sale of 495 shares.
Thero was no nexx's to account for the
strength In this Issue. The majority of
tho buying was for New York nccount,
xxhlch lias been the case In the last fexv
days. Uoston Interests have nHo been
buying tho stock, but It xxas said today
that the demands from the source hnd
been satisfied, for the present nt least.
HISTORY.
SERVICE
TERMS
are tlirce important items we wish to feature in
aripcalinr tor your bank business. A. rllSTOR Y
bctfjnning; or National
ank was the first
ational Bank Act) .
odern in every way,
-which dates back to the
Uanks Ithc rifst INafion
bank chartercrr unde th
A SERVI
and TER'
oi tlic business
MS
w
liicli
consistent with tlic character
isa
The First
National Bank
of Philadelphia
315 Chestnut St.
A
Cities Service Company
Common and Preferred Stocks
While within the last few weeks the common stock of Cities
Service Company has had a remarkable advance, this advance has
been based, in our opinion, on actual merit and its largest buyers
have been men who look far into thefutureinmakingtheir investments.
On the basis of earnings for the first three months of the cur
rent year Cities Service Company in 1916 should earn in excess of
35 for its Junior Issue
That such a rate of earning power justifies higher prices than those at
which the stock is selling may be seen from the fact that one well known public
utility common stock on which in 1915 25 was earned, is selling at about
S390a share and another on which in 1915 was earned 26, is selling at 270
of its par value. if -
All purchases of common stock made prior to June 15 carry 3 in con
vertible debentures payable JiiLand already selling 30 above face value.
On the basis of earnings for the fifst quarter of 1916 Cities Service should
earn the requirements for paymej?jpf dj.vijlendon its 6 preferred stock
more than four times in the cuccent year l.he' oresant price of 85, or on a 7
income basis, must thereforeonsidred'as lowr""
Even without taking intfrronstSeration the large earnings accruing from
the oil production of the company, the strictly public utility properties of
Cities Service alone will earn in 1916 more than two and one-half times the
requirements for the payment of these DreferrecLdividends.
mai;ixji orner-rnaeri
. " "fcVmvJZBt6
njc$battractive purchases now
x income anu eniiaiiceiiient in
We are recommenc
available in any segp
market value. St
We have a clojyaplendable market for Cities Service Company
Common and 'fcrefejeH, and are ready at any time to execute buying
or selling orders in large or small amounts.
Send for Copy of
"Cities Service Analysis"
WlhnmJroih&Gohmm
CO Wall Street,
Telephone Hanooer 5980
New York
riti:i: ritoM noh.mai, i'-i:i)i:itAi, incomk tax
TAX HlU'UNDAIH.E IN lUINNSYLVANIA
$1,250,000
BRUSH ELECTRIC COMPANY
OF
Dated April 1, 1912
Galveston, Texas
First Mortgage 5 Sinking Fund Gold Bonds
Denomination $1,000
Interest Payable April 1 and October 1
"Total Outstanding Issue $1,250,000
Due April I, 1952
s
r ,
Bankers Trust Compariy New York, Trustee
J
The Brush Electric Company furnishes electricitffjf'"ligkt and power purposes in the
city of Galveston, Texas, under a franchise whichContains Ino bunions or restrictions and
extends 9 years beyond the maturity of the presAjJFirstNgrtgage Bond Issue.
COMPARATIVE EARNINGS STATEMENT
Year Ending Gross J? Net
December 31, 1913 , ... ,$26tL2 79.59 $118,565.43
December 31, 1914 ;'; 2 7 f$m& 127,670,63
December 31,1915 ,,...i ffS . . , . . 277.3JI.32 143,350.26
Net Earnings applicable to the gat)fipttfftdri. prt;scn issue are more than twice
the annual interest requirements, t te' '
Price 92 and Interest To yield 5Vz
We recommend these bonds for investment. Additional information on request.
XLEMM & KEEN
1326 Walnut Street
BANKERS
Philadelphia, Pa.
m
fe
-
i