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1G
EVENING- EEDGrER PHILADELPHIA, TUESDAY, APRIL 11, 1916.
Mm u, 'Vlj w .i'irv-w'T-rt;-nt -
y
ii
I
FINANCIAL NEWS
SPECULATIVE DEMAND IS ABSENT
IN NEARLY ALL IMPORTANT ISSUES
New Haven Declines More Than Two Points Company
to Replace Notes Now Outstanding With 4'js.
Washington News Unsettles Market Late in Day
High Points in Todau's Financial News
Total orders for copper by Brilhh Government about 1,00,000,000
pounds in week, price approximately 27 cents a pound. Foreign tiadc of
port of Philadelphia continues to increase. Keystone Telephone Company
earnings for March and three months good, I'tather advance in price of
bar silver, laissian uovcrnment acmes tieir notes nave oeen given or
offered in payment of munitions. Certain lines of glass tableware ad
vanced 10 and lo per cent, by Pittsburgh manufacturers. Chicago gtain ,
market closed because of presidential primaries. i
NHW YOltK. April tt.
The market win unltilciestltiK during; a Rood part of the day. Theic win nn
absence of speculative demand In nearly nil the Important Isiues and the lending
stocks during the greater part of the day sold nt concessions on small offerings.
New HnVen was one of the weakest features, falling more than 2 points. The
position of this stock, however, Is stionger than It appears on the surface. The
notes now oustaiidlng will he paid off at maturity on May 1 and are quoted 100
hid. It is uudeistood that tliej will he replaced hj u 4V& per cent. Issue. The
belief prevails that New llnvcn Is holding back from placing any long-term Issues
because of the expected sale of llin Connecticut and llhode Island trolley systems,
which must be effected before 1910.
In the last hour of the day the market was unsettled by the publication of
'Washington dispatches announcing the intention of the Admlnlsttutlou to send
n ultimatum to Clcrman In regnul to the-Hubniarle nut fare. Tlio publication of
this news was followed b some IgoroiH selling of the wnr-ordcr Btocks and
quick declines wero iccorded in many of those issues.
In tlio tlnal trading the maikct tone was Influenced by the discussion as to
what the influence of thin new Clov eminent document would bo on the speculative
position. Such a step has been looked for for many weeks, and before the Wash
ington news wn received today It was insisted that a rupture with Germany
would be followed by moie vigorous trading and as soon ns tlio llrst unsettling
effect passed away higher prices would bo established.
No Russian Notes Given in I'ajmcnl for .Munitions
NEW YORK, April II. The National Cltj Oniric gave out the following:
"The rumors that there have been large offers of Russian Government notes In
payment for purchases of munitions irr this market have reached Pctrograd, and
the Minister of Finance In Kussia authorises the National City, Hank of Now York'
to publicly deny that any such notes have bectr given or offered here In payment
for goods."
No Important Change in Iron and Steel Market
PITTSBURGH, Apiil II. The market for finished Iron and steel products
has made no Important cltungc In its position this week. Prices have revealed
continued strength, but are no higher than they were 10 das ngo becnuse of
the fnct thnt quotations have not continued their sensational progress toward
higher levels the last fortnight.
NEW YORK STOCK SALES
Inst clour
n'i
'JO'
J9
Hlsh
2!)? a
Low
IS'
1!".'
2SU
07' i
97
07JJ
Ufi'i
flfl'i
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ClOM
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20
2h'i
77
Pfi'
DGJf
IKI'f 1)1
law ioo
oix oi'.-
lllJi
OS
15S
r,.ij
12
10
94
100
00' i
n'i iu
fiS. OS
2.0,'
l.Vn
13!)
.VI' i
12S
D'i
32
2!
21' J
40U
77,'
102' i
3.i
102'
y.-i
1021.
112'k 11
Ot 04't
..', 32V,
100' i in
110 no
12S4 12S"4
lOJij 10.)
is;
51'j
121,
!)'.
ol"
2S
2l'i
45S
77!j
102
l()2ti 101'i
11:
91
HKi
004
OS
lfi7'j
53' 3
12S
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flli
2S
2'
10
77'i
102" i
3.".
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112'i
lil'i
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99i
971 i
b7K
3'i
57' i
. 07
. 103'i
..lOW
107
.. 87
. Tills
. 2'i
S.1'5
..112'
07
.. 34'.
.. 91''
.. 021,
.. 2J1,
. 55
. Mi
. 30' i
. 94
..129
.. 41
.. l'JH
.. 44!,'
.. 27
.. 16
. 201,
.. 03b
92H
19!'
091 1
071'
87' i
I
57!'
Ul'-i
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U01- 110''
i in no
12St. 12S'i
1054 1054
404 194
0S4
954
SO'i
1
57,
fi7'
10.14 1034
1094 10)
1074
R7)i
704
24
82
1104
074'
51
004
02
2J4
554'
84
354
91!
9S4
954
803 i
4
574
074
1034
1094
1054 1054
87 87
704 704
24 24
82
82
1104'
954
534
05
op
at 554
8)$
354
914
1104
90
514
954
014
2.1
554
84
354
U4'J
12S4 12S4 12S4
40
104
'45
27
45
204
9.14
944
40
184'
444
27
45
20
93
024
Alaska J Colli M
Alaska fiold Minn
Allls-Ctiatmers Mfc
Allls-Chal M'K pf
Am Ac C'hemlral
Am Ac Chemical pf
Am llect Sugar
Am licet Susar pf
Am Drake SS. F
Am Can
Am Can pf
Am Car & Kdv
Am Coal Products
Am Cotton Oil
Am -express
Am Hldo .V Leather
Am Illilo .". I. pf
Am Ico becurltlcs .
Am I.lnwed
Am Linseed pf
Am' Locomotive
Am IxJcomotlvo pf.
Am Malt Corpn pf
Am Smelt & Itef
Am Smelt & Itef pf
Am Smelt pr A
Am Steel Foundries
Am Sugar Itef
Am Sugar Itef pf
Am Tel X Tel
Am Too pf ne
Am Woolen
Am Woolen pf
Am Zinc I, A. Km
Anaconda Copper M.
Assets Realization
Asso Merchants 1st pf
Associated Oil
Atch Top & S F . ..
Atl Coast Line . .
Bald Loco Wis ....
Bait &. Ohio
Bait & Ohio pr .
Batopllas Mining ..
Burns Bros
Bush Terminal .. ..
Butte & Superior .
Central Leather . . .
Chandler Motor
Ches & Ohio
Chile Copper
Chlno Copper
Chicago & Alton
Chicago Gt West pf
Chr Mil & St P .
Chi Mi St Ipf ..
O C C & St L ..
Chi It I 4 Pac ....
Col Fuel S. Iron ....
Col & Southern ....
Comp T Itec Co ...,
Corn Products Itef.,
Corn I'rod Ref pt .
Crucible Steel . .
Crucible Steel pf
Cuban-Am Sugar . .
Del Lack & West
Denver &. Hlo Gr .
Den & Illo Gr pf
Distill Sec Corpn .
Dome Mines,,.,....
Erie
cue in pi, auj
Erie 2d pf 13
General Electric 107
General Motors pf J154 110
lioodrlch H K 704
Granby Consol 00
Greene-Cananea,,.,,., 4h4
Great Northern pf. . . 120),
G N cf s for ore prop, . 434
Guggenheim Eipln,... 224
IngersolI-IUnd 275
lot Agricultural pr..,, 84
Int Coo Cor t t c ah.. 174
In; Coo Corpn pf 744
Int Paper pf .,, 474
Insp Con Cop ,,, 464
lot Nickel v t cf j 60
lotM M oof dp 21H
lot M M pf c of dp... 754
Jewel Tea , 89
Kan City Southern.... 20
Kelly Sprtne Tire 74)
Kelly Spe Tire pf 06Jf
Kenoecott Copper .... 674
lClngs Co E L 4 P...,12-Jt 1294 129JX 1294
JUfkSteel Co., 77 75) 751 75jf
J-cjeue Js.., 1034 1054 J054
tee HubberTIre Co ,, 514 52J 51H
inrga vauey 77?, rJH TIM
Louis Nash 1264 125W 1
Manhat Eler rid .....130 1294 120
Uuweil Motors 74 741 73
am Motors 1st pr.,
Mai Motors 2d pf ,.
Mexican Petroleum.,
Miami Copper
Mo Kaa & Teiu ..
Missouri Pacific ..
Montana Power .....
Nat Bbcult
Mat Cloak & Suit ..
Nat Enam & S Co ..
Nat Lead Co . ...
Ne Con Cop .
New York Air Brake
N Y N t H. . . .
K Y Chi St L
N Y C A St L 2d Pf
Norfolk & Western
Noilh American
KurtSeift Pacific. . .
Did PobUoIoa
OeUrto SUret Mia
Vmt Ure pf
l'adte Tl i Tl
I"jojUaaJji R it ,
39
214
8V,
144
514
I0VJ
, t.ut rloi!
Preyed Steel Car Co 3'
(luickllver pf . -,
ny steel Sp Co
Itiv Con Copper
Heading
Heading 2d pf
I Republic Iron & S
! Republic I A s Df
St Louis ASF.
St L .1 S F 1st pf
St L & S F 2d pf
Sears Itoo A Co
Shit Ariz Cop ... ,
Sloss-Shef S A I
Siulli Porto It Sug
Southern Pacific .
Southern Ily
Southern Itv pf . ..
Standard Mllllhg ..
Studebaker Co ....
Tcnn Copper .
Tens Co . ..
Texas Pacirie . . ,
Third Avenue
I'nlon Ihg A Paper
Union Ihg A P pf
United Clgir Mfrs
Union Pacific
Union Pacific pf .
U S I ml Alcohol .
U S Ind Alcohol pf
United Fruit
Un Fruit rec 2d pd
U S C I P & F .
U S C I P A F pf
L S Rubber
U S Rubber 1st pf
U S Steel Corpn .
U S Steel Corpn p,
U S Sm It A M .
USimRi M pf
Utah Securities
Utah Copper . . .
Va-Caro Cbem
Wabash pf A ....
Wabash pf I) ... .
West K A M . .
West Union Tel .
Wheel &. Lake- Erie
Wheel A L II 1st pr
Wheel A L K 2d pf
wnijs urerlann
inch
52
t
30
214
834
fi
514
109
24
14
34
178
:u4
.110)1 1104 110
215
218
. 10
. 20
. 48
. 23
304
221 210
220 220
104 10
21 19
48 474
25 244
3(1),' 354'
514 514
434 43
1074 1B7
110 110
80 784
894 894
494 484
1204 120
434 434
22 21
300 300
504 59
174 l174
744 74
474 47
474 46j
504 494
214 204
754 73H
00 00
26 254
744 74
90 06
blii 67
10
184'
444
27
45
20
0)
924
1104
rwi
220
104
21
474
214
3G4
514
43
1074'
110
784
894
494
120
434
214
300
69H
174
744'
47
4t!4
494
204
74
90
254
714
06
67
1054
524
77
1254
1294
73
,86 864 86 804
. 574' 574 504 504'
1104 1114 1094 1094
. 3S4 384 383 i 384'
. 34 34 34 34
. 44 Hi Hi 44
. 794 79 784' 7S
.1234 123 123 123
. 76 76 76 76
. 254 26 214' 244
. 674 674 664 66H
174 174 17 174'
145 1424 1124 1424
, 6J 624 004 614
lftl 1034 )02 102j
354 36 36 36
64 60 60 Ml
1234 1224 122H 122U
. 68 674 67r 67
112,4 1124 112 1123
. 70a 71 71 71
t 84 0 84 b4
&i M b-i 83
34 H. U 34
&f t 57 66.4 67
& 44 4.14 4jy .
, 27i mt 24 Mil
14
34
..170
. at
.. 54','
209
.. 074'
. 204
.. 5')
.. 90
..112
. 524
..199
.. 10
. 024
.. 04
304
02
1334
81 83
. 1034 10.14
110 109
..1474 1484
1174
. 22 214
.. 514 514
.. 534 534
. 1104 1104
. 85 854
1171
974
204
nS'j
O")
1 124'
524
19S
10
014
04
304'
02
Low
52
t
39
21
814
15
51
109
44
3
178
314
514
207
974
204
5S
1414
324
197
94
014
04
304
o:
Clne
52
I
39
2t
85
15
514
109
'44
17
114
544
209
974
20) ',
38' i
05
1114
524
197
04
014
04
304
0.
1324' 1324 1324
8J
100'j
10S
1474
81
1004
109
1184
1474 1474
214 214'
514
524
1104
81'
524
18
824
144
454
274
05
90
1
1.14
i'j
2.15 "t.1
Wooluorlh F W 124 125
1174 1174
77', 714
5,14
19
834
444
454
274
034'
004
14
134
14
o-J't
18
82) i
41
434
274
034'
894
14
13
14
2.1J
1214
514
524
1104
85
1174
774
534
184
8 J 4'
44
434
27),
01
894
14'
13
14
233
125
RAILROAD EARNINGS
CANADIAN PACIflC.
1010 Ine
Urit week April . 11.46.' 000 ITtB onn
From July 1 lltl,.1U,820 18.315.USU
DENVER AND RIO OltANDB.
first week April 1418.000 $82,700
Fn -i Jul) I ... . 19,001 Sim S.iSJ.SUO
MlhSOUm. KAN'UAH AND TEXAS
Klrnt ek April SiMH.tMl "I-in 100
1'rom Julv 1 . 2 033.7ST ,1,180,03J
I.UUIb HOUIllVVBSrBU.N-.
ST
I"lrt veeK April
1 rorn jui l
ueireabe
1210.000
'J.4JI.T4U
$18 1)011
1.0J1.6.-J
New York Bond Sales
15'
04
no
stW
I
iiirA.
100A Arf.tvia nf.ra i . HI
4UO0 Am LOt Oil SA B7U
iBouo Anirio.Fnncn 6
1000 At A Dnnv lat 4s
aono Am Smelt Bee 6s
loom) Am Tel clt 4 .
Joou Am Tel ot 44 b
2UOOO Armour Co 4(4 n
loouii AtchHon ml) 4
tuuo Atch cv 4 1000
moo Atchlnon 3s
1000 All Co l.lno clt An
-'Olio ft o 34 n
I looo II ( o Is
II HUH II . O cv 14
mum ii ft u p M.ftvvv
r.ooo II (. o Hun JVift
21,000 H ft O 01 .
finiMI llrnotc (Mtv lift fis
2000 llrook Un l!lv 1st ftn 10IS
I 0(10 llunh Term lIltlK us . I"i4
looo do 4s
nnoil ili) 3s ....
Miuo t'nl CI K Bs
2(1.1000 Can (iov us 10JO
IIMHIOO 00 1U.11 ..
1.(7000 do 1DJI
2U0U Cent l.Btli lat 5s
t4(lotl Cent l'sc 1st 4s
.Willi Chi Gov llu ,1s
."HOD Ches ft Ohio 44 s
looo CIks ft Ohio As
1000 Chi t- Alton :s
IIIOO I'hl K I'm Ill r,s
llinil Chi ft N (ten rett 4s 113
nnoil I,' II ft ') Joint 4s. tin?
Sniioil C i ft Q (tin Is 1134
llinil C II t Q III Is v:,t
1IKIU Chi A West Ind 4s 7li'
mini C At ft Ht r HP 14s itij
llinil C M ft si p pen 48 iij
niiihi i: m ft hi p iiiv 4s rut,
rflldll C VI ft St P cv fis 107.
noun C M Nt I c 44s HHlS
llinil C M ft Ht P rfd 44s HI
loon Cnl ft South 4'4s 814
I mill Cons tins cv lis r.'J
20011 Corn Proil Bs "31 li'i
liiiiti Del ft llud conv Is In"
.-,1100 Don ft 1111 wr is i'
701111 IJen ft ItlJ llr 44s M'
riiiiin do rrii is ,
.'noil t)lrolt L'nlleil 14 s
Minn UN B'rur Corp Bs
l.'ouil Krlo in 4s
iiimiii llrle unv 4s Scr V
211110 lrtL nrlor 4s
(...III, ,n .nH. t. C I. U'.'l
4111111 I'U ft I'.nst Cn 44s 0 14
iuoii i;iriii joi ft t-i 1st im 111 -sa
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12000 dm Hire deb
llinil) (ircnt .Nor
llooo I luil ft Man In Bs
211011 do rfd s..
lllillll III Htcel deb 44s
Minn Imllnna Htecl Bs
llilli) Ind ft 111 4s
B111111 town Central rf
'mm 111 Cent 4s tii',n
llooo mtcrl) Met 44s
2711011 lnterb It T ret Bs ,
Billion Int Mer Mar ct,
Willi Jbp nev OS 14 s
3'.iiiiii Japanese new 44a
101)0(1 K C Kt 8 ft M 4s
looo Kan C ft P 1st Is
IlOllll Larlci Hteel Bb 11IJ1
Bllon do Bs 111.10
'.linn Laclede (las 1st Bs
1000 .l .Mil deb 4s 1U11
llillllil LIB ft M T Bs .
BOOH tio 7s
4000 f.nrlllanl
111011 ilex pel (o (is ser A iii)-
211000 Minn & Ht L Bs 10112 Bl
8OI111 do Is I1J4
lllllll Mo Knn ft T 2d Is 4la(
B.'iioi) Morris ft Hssrx 3'as 874
LMlllll Mo Iv A Uast 1st Is 74
2000 Mont Power Bs 117
soon Nnt Tulie Bs 1ini
l.-.non N V C ft II lis Ill's
IIKHI do 3'4s , 8J"
22000 V V C ft Hud I'iS 1111.
101)11 N V C'lil ft t I. :i',i 7ils
70011 N V CIU 4s linn H'l
20011 N V City l's lllllll 10JS.
(11)00 N Y Cits 4V4s loni 1117'.
7IIOII ,-M V l' -lfcH ,-ia H 10
IIIOO N Y (Ins II ft r
-.lion V Y T7uv ref J.
1 lllllll N Y ll nil I Bs IH'ii
liiniin .v y NtiitP I'as ?.
nnoil N Y Tel (ten I',, US'.
1000 N Y VV C ft 11 4'4s 784
loni) Norf ft W evt 14a 121J
L-,1100 Norf ft 'VVest 4h ll IV
17000 .Nor Pac Ren 3s nil1 J
4000 Orn Short L ref 4s nj's
200(1 Ore Ilw ft Nav Bs .11114
llllllll Pacllle Tel Bs KIllVs
loon Penna Bs 1011) lnl
.".moil Penna sen ct 44 I0J
71100 Penna rn 14 s l(i",4
2000 Pllhlle Herv N J Bs Ill's
loni) lleadlnu-Jer Cen 4s llil1.
201)0 llepuli Culm I 'an MI'j
1001) dn Is 101 I Oll'j
lflllll Ilmh ft Pitts eon lis 11114
noon Hock Island rfd Is 1184
isonii Hock Island Bs . . JMVt
30011 St I. ft K P rfd 4s 72
7011(1 (in rfd ( t ata 4s (III
BOOH rin en (t ata Is Bl
11)00 Kel Tul ft K C 1st Is 01
10110(1 Stand Mill Ba 1181,
30110 Slind (las lis . 101'i
200D Seaboard A 1. adj Bs mi
201111 .seaboard A I. Hla 4s 82
looo south Hell Bs. .. .101
liono South Pac cv Bs 11)4
3-.00II do c Is . 874
7(in() dn rfd 4s . oiii
7000 South Pac Term Bs . 81
lMioo South Hwj uen la 70 4
2001I South ltwy ton Bs .102,
1000 South Ilws St L 4s. 8ti
limn Texas ft Pnc 1st Bs 07 4
2000 Third Ave ref la . 2t.
l.-.ooo tokio Bs ..
looo Trl-Clty Bs
1000 t; S Ituliber (Is.
BOOll 1 S .steel a f 4a
1B0O V H Steel a f ree Bh
100(1 C S Oo .Is c
MllKl I'nlon I'ae lat 4s
Kloo Vu Car Chein (Is
looo Wash Term 3V,s
lOOO Willi P T 1st ct 4a.
loon WtHt niec Ba
100(1 West Md 1st 4s ,
tniM West L'nlon 4 4s..
1000 West I'nlon Bs
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874
70
oil'i
1iio4
113S
824
014
7H4
102.
1074
107.
814
784
S84
8ll4
084
784
1214
!I1'4
It'l'i
02s
1014
1004
101
102
Hl-i'4
014
ml'.
M4
nii4
1104
us 4
47
714
ill's
Bl
01
074
10114
1114
82
101
1HIV4
874
004
81
7(1 4
1024
8l4
07 1
82 4
78
i-ll.
8-1 U
11114
llil '
1)7 4
111.'
84 4
14
102 4
714
lil'i
100
NEW YORK COFFEE MARKET
Nnw YOniC. Apill ll. The coffee mar
ket opened steady this morning and un
chanBed to 1 point higher. Trading was
fairly actlvo on tlio call and sales
amounted to 10,500 bags
Yesterday's
close
K 80DI8 81
8 2IISJ)8 28
8 14 W 8 .11
8 30 W 8 40
8 448 41
miKJs Bl)
8 II 8 Bl
8 38 ft 8 .',11
8 I12ia8 (II
8 .lilffDR 07
8 718 72
8 7B8 77
NEW YORK BUTTER AND EGGS
NEW YOntv, April 11 MUTTER quiet and
nrm Tteielpls 10,283 packaees Kxtra. cream
er), 3H4r , hliiher scorlnar, ,17ffi,17V4c.. Slain
dairy, 3i4 3tk , Imitation creumer). 284
204 c m
EGGS firm vrlth little chance In values Re
ceipts, .10 0311 cases Kxlra rlrats. 224 Q23c i
nrais, 214w'224c; white egss, 21M2He ,
brown ceks, 2IW2.",c mixed colors, C24P23',c
refrleeralor best 2323),c
Todaj's
openlnir
March 8 800 8 82
April
May . 8 33
June
Jul 8 41
AUKUst 8 BO
September 8 14
October 8 58618.00
Ko ember
Decimber 8 ns
Januan '8 72
I'ebruary 8 7B
Hid
Total tales. 11.000 Lacs
Money in London
LONDON. April 11 Money, (lli;
discount rate, short bills, lS-l"!: three
months' bills. idJUU-
NEW CURB LEADERS
DIM OLD FAVORITES
Aetna Explosives Advances
Sharply on Crucible Steel
Absorption Rumors
NEW VOniC. April tl Tlio old faior
lte phowed more Indications of rIvIiir
way to new lendcri In today's curb trad
ing Aetna Explosives became one of the
most prominent features, ndvanclng sharp
ly with the Upward movement. It was
nald that the company is to be absorbed
by Cruclblo Stcil
Lynn Phonograph moved up from S to
9 The understanding N Hint nn Initial
dividend will bo declared on this stock
within tlio next few weeks
Other stocks In the Dergmnn Kioup
were firm with f.lnc Conrontratlns seltlnR
nt 64 and 64, nnd Kathodlon Ilronze
preferred from 20 to 28 4. Cuba Cane
Sugar nns weak In the forenoon, dropping
to 61, but met support nnd rallied over
2 points
Mlrivnlo Steel fluctuated within n nar
row ranire, but talk on the Street that.tho
rnmpnii hnd received new war oiders 1ms
' a "(' -itlnn to nccuinulnto It
above. 65. The New York city 44s to bo
a mi ul'uiitloii April 19 sold at
10 1
Indus rniAt.s
ind.
21
Bl
IIS
I1II4
34
.124
17
111
82
Aelna IlxplosUes
K'senlohr Tobacco
do nref ...
AJit Itnbber . .
Amerlcan-IIrltlsh Mfir Co ,. ..
American Marconi
Allnntlc (lulf nnd W I
do nref . .
Tanadlan for Co , . . . ,
r,.h...ll..., I'nr- nnj I iiiinilrtf nref.
'herolet Motors 102'
t'uimn lane nuaor '
Curtlss Aernplnno
DrlBits-Heabury .. II'
llmersnn IMionoRraph 1 J ;i
Haskell ll.irker Car 114
Hende-. MfB ",.
Inter Mer Marino s'
lo i.fd . ,',',,
Kntlinillon llronro prd -;)f
Mnxlm Munition nj
Miinhnttan Transit J 14
Mldvale Hteel 4
Otis IJIciator ill
Peerless Motors
Poole llm? .',
H H Kresire w I 124
Htiindird Motors J4
Hulimnrln Iloat 3 .'4
Trlnnule I'llm .3J
United Pront SharlnK IS 10
U S I.lrht & Heat 34
do prd 44
White Motors 1 . . iiil4
World rilm 1
STANDARD Oil.
Illinois ." I"
Ohio 221
Prairie Pine 210
H o of California 2 in
S II of New Jersey Bit
a O ot New York 2o'J
Asked
B 1 4
nn
lot,
7114
Ik
Bl)
711
811
101
III
48
112
114
28
78
.10
II
IS
nii
111
l.i
84
37
3',
1
U
r,
m
OTlinil Oil. hTOCKH.
f'osilen Oil
Chalmers Oil
Inter 1'itrol
Houston Oil
Mldnest Iteflnlmr
lapulpa Ueflnlnff
llarmtt oil
MININO STOt'KH.
Atlanta
Ilutter Copper & Kluc
Ilutle t. New lork
Cerro de Pasco
fc'lrst National Copper ....
Goldflcld Mercer
Htu.i vilntmr
Howe Hound
Jim Duller
Jumbo Hxtenslon
Kemflrk Zinc
McKlnlcy-DarraHli
MaRmn Copper
Mlnea Co of Amirlca
Nlplsslnt;
San Toy
St Joseph Lend . . .
West Kml Consolidated
1IONDS
Cerro de Pasco .ns . ..
Chesapeake & Ohio Bs
Mldvnle Bs
New York Clti 44 8
104
12
1114
. 13
. 84
. 1
. 374
. (I
. 13
;
. B4
. Ill
. 711
. 14
. 41
. 18
. 1
74
. 174
. 104
. 7(1
.110
. 074
. 084
.1024
178
2211
BI7
'211
20
8
124
18
l,'l
124
34
II
II
:i'i
SS4
114
14
n4
IIS
78
114
411
184
lift
i4
no
074
084
1(13'
Sales in Philadelphia
10
211
n
10
.4n
no
mi)
BO
7(1
20(1
HI
1(1
13
r,s7
in
.10
301
ion
in
,132
.1110
4(10
411
snn
24
4(in
in
1.1
4110
SKI
140
lllch.
Am. Rwys .1".
Am Aw pr '
Cam Iron IB
Ctni Mesl . 814
Con Trac N J 71.
Wee Slor ... 014
Ins t'rt N Am 21'
Ky secnr pm
l.ako Sun Cor
i.eniRn .av
lxhlK:h allev.
Ixh Vat Tran
do prer
Nev .Cons ..
North Penna
l'enn-l it It.
1. u.l. -!. In!
Vn. Steel' pref. 08
I'nna i.iec,...
I It T tr ctfs
Rep Ir & Htl .
IteooinK
1()4
7.14
Af..
iVj
ITS
ot
.B74
271
184
filljl
814
Ht 1, H S K
Ton Hel ..
Ton Mln . . . .
Un Trao ..
II O I
Un Cos N J
U S Steel .
West Klec .
VV'esfm Cnal
Cramp . Sons S14
lork ltwy 134
do pref HI 4
44
114
434
884
:.d
81
III
nn
t,ovv Close
.11 31
nn 09
4.1 1.1..
814 814
'. 71.
1114 "1.4
214 214
33-. -33.
174 .74
III 04,,
R7 .1174
102 102
"8. OS
274 27H
184 184
B04 B04
84's 8B4
4 44
I'll J
114 434
8S 88
20 2211 ,
844 814
114 III
nn mi
81 81,
124 ni
304 3'14
Net
Total sales, ,1110 snares, rnrrfpnreil
1)011 shares velenlni Huts tnr 1111s
14.311 sharesi same iierloil Inst week,
",,,r"- iionds
-4
-4-
"434
'
4
- j;
?
14
Willi
week.
1H.5J7
2sno
1000
2(11)0
Klllll
looo
Bill)
limn
3000
8oon
2( in
21 11 in
110110
11101)
2(100
110111)
10011
31100
limn
10(10
Hum
looo
HUIi.
Am 0 k V. Bs IU4
Am lly Bs .1104
llnlil I. 1st Bs 1014
Choc en Bs 1III4
1! . 1" ir Is so,
Int Hi Is B84
I, N con 14 s 1024
I, K 1 44s
ret w I lot
1, V tst k 4s 01.
do Tr ref Bs 0(14
Pa Co nn 44 JIU.,
do ens 14 s 1014
PWill t e 4s Illl'V
Phlla Co ens Bs 014
Putin I'.lc 4s 81
do Bs . 11144
Readlni; nn 4s 044
Snan-Am I Us 1024
I 11 Ris t e Is 744
I'll Rv tnv fis 734
Welsbach Bs 084
Low
014
onji
11114
004
8114
ss4
1024
lnl
01
004
in.'
im4
0'i4
1114
8i
KH4
014
11124
714
7.14
os4
Close
014
004
1014
004
804
B84
1024
lilt
01
nn'a
'"-'.
11114
on4
014
si
1014
044
lo.'4
714
714
0S4
Net
chae
Til
i 4
4
?'
T0I11I sales. J.3nn, rnmnnrril with IOO..OO
vesterilini thus fur Ihls week. SISiMHIOi same
period last week, I27.900.
Local Bid and Asked
llurfnlo & Sun t c
do pref
llrlll .1 (I
IliilUwIn .
do liref
I'.lectrii Hlurane .
clnneral Asplmll
Un pref
Kil stone relephone
ilo I (
do pref
Lake Huperlor ( orp
LehlRh NallRillion
Lehlnli alle
I.ehlBh Viillev lull
do pre f
Peiinsjlianli
Phil i lllef
Phlla I'd . .
do B per 1 ill pfil
do it per tent pfd,
P II T t l .
Iteadlni;
Tonopall llelnionl ..
Ton Mln . .
Un True
l! C 1
II S Str.l . . .
York lly
do pref
m Crnmp t c
Toila
111. I A
17
. B'4
30
Ion
ins
7,(1
. 1 1
v;:i.
IJ4
Bi
"74
. 114
38
. 124
. 18
814
14
11
. 114
. 88
. SI4
. 1.1
. nn,
. 814
k-,i
18
1,114
lllll'l
Ills'.
12
nn
114
704
104
.174
7i
III
114
184
81
14
114
134
8S4
81
114
.lil'i
8.1
Ycstcnln
111,1 Askxl
17 18
VI4 "4
.11)
1IIII4 HI
014
.111
72'4
114
144
1.14
1'J
i.'
'.'. ?
1 14
311
I.I
IS',
814
14
4
114
8S
s4
124
.111
81
112
.Hl'4
724
114
!
7o4
lil'i
114
SIS'
2.4
144
III
114
184
814
14
"i
114
8S4
81
124
;ni4
8B4
NEW YORK COTTON MARKET
OPENS DULL, RUT IMPROVES
Get
Good
Reports From Liverpool
Poor Response
NEW YOniC, April 11. The cotton
market this morning made a poor rcsponio
to HtreiiKtli In Liverpool, nnd nt the start
prlccB wero only 1 to 3 points hlKhcr,
duo to heavy pressure from two quarters,
which was believed to bo for Liverpool
account
After the call tlio demand Increased, and
despite the continuation of pressuro from
abroad, pi Ices robo n point or two.
Tlio market was quiet durini; tho mlddlo
of tho day, but held steady within a
point or two of tho best, or about 2 to 3
points above last night's closing figures
Two or three private cables were received
this morning predicting wider differences
between Liverpool and New Yoik, and
some trndcrs consequent looked for In
creased Liverpool straddle selling 011
bulges Very little news seemed to be
reaching the ring from the South, and
after tho close of Liverpool, business here
was local
Yes'day'a
close Open Hleh Low Close
March .... 12 37 12.13 12 111 12.13 12.111
May 118') 1101) 11.03 1188 11811
Jul) . . 12 Oil 12.118 12 ID 12 1)11 12 Oil
October . . . 12 21 12 22 12 21 12 21 12 21
December . 12 311 12 41 12 1.1 12 .17 12 J'l
January .. 12 11 12 45 12 18 12 4.1 12 HI
bpot ... 12 US ... . 12 1)3
BARNETT OIL & GAS GO.
Write for Special Circular No. 2
and adrontnrlB,
concerninjj
describing new
developments
properly.
E. H. CEARKI
Investment Hecutlllet
27 William bt.. ?ew tYk
Booklet, "Past, Present Vfl Future
of Independent Oils," oit request.
City
1'REK FUOJI .NORMAL riiDEHAL INCOME TAX
TAX REFUNDABLE IN PENNSYLVANIA
$1,250,000
BRUSH ELECTRIC COMPANY
OF
Galveston, Texaa
? H.t rv P ! r i si i i
rirst iYiortgage dvo dinKing fund uoidffion
Dated April 1, 1912
Denomination $1,000
Interest Payable April 1 and October
Total Outstanding Issue $1,250,000
Bankers Trust Company, New York,
di
JL1 "n
i ja,
" i
ue April 1. 1952
The Brush Electric Company furnishes electricity for light andf power purposes in the
city of Galveston, Texas, under a franchise which contains no bufdens or restrictions and
extends 9 years beyond the maturity of the present FirskMortfage Bond Issue.
COMPARATIVE EARNINGS TaVeMENT
Year Ending Gross Net
December 31, 1913 $260,279,6f $118,565.43
December 31, 1914 277.566.58 127,670.63
December 31, 1915 277,351,32 143,350.26
Net Earnings applicable to the payment of interest on present issue are more than twice
the annual interest requirements.
Price 92 aiid Interest To yield Slz
We recommend these bonds for investment. Additional information on request
KLEMM & KEEN
1320 Walnut Street BANKERS,
Philadelphia, Pa.
FOREIGN EXCHANGE
Xi:V YOltK. Alirll 11 In tlio lire
llnilnniy quotations Trench oacIiiuibo was
n shade better, but by the end of tho
first hour francs had receded to the low
est points of this movement. 6 03 for
checks and OOJ'l for cables Xo new
cMilaiiatlons for this weakness wero ad
vanced cicrninii exchange wan firmer,
but In other classes theic was n Rood
deal of lrieRiilarlt. In most cases neu
tint exchange was shaded. Quotations:
Demand sterlliiB 1.70 "Hi, cables I 77;
fiauc cables fiOJ1.., cheeks G 0.1, relchs
marks. 721'., &!.:; lire cables 6 r,S, checks
6TiS4; Swiss cables SIS, checks 5.18?i;
Vienna. 1." 11 Tv2 IS; Stockholm. .10W
30 10. pc-etas. ID .'.$n 10.10; Builders. 44
ifflU',; rubles. '11 2031. .'3 Tho last
mentioned CxcliaiiRe was weak. Guilders,
pesetas and Swiss were nlso a shado
lower at the quotations.
CONTINUED EXPANSION IN FOREIGN
TRADE OF PORT OF PHILADELPHIA
Exports in March $1,472,278 Larger Balance in Favor
of City in Month $1,176,021 Keystone Tele
phone Company Earnings Good
Philadelphia H taking a very prom
inent part In tho movement ot goods
abroad, the foreign trade of the port con
tinuing to expand from month to month
with no sIkhb of tailing off. For the
month of March, figures for which camo
out today, there wns nn Increase In ex
ports of $1,472,278, ns compared with the
tamo period of the previous jcar, tho total
for March being $10,801,366. Imports In
creased $2,013,617, to $8,625,311, and tho
bain nco of trade In favor of the port was
$1,176,021 For the first three months of
the calendar year the exports total $24,
10S.237. Increase, $7,717,102; Imports, $18,
SOI. 519, Increase, $7,679,760.
Tho earnings statement of the Keystone
Telephone Company for March nnd for tho
first three monthl of tho company's fiscal
year catnc out today It compared very
well with tho same periods of the year
previous Tho gross earnings In March
were $119,005, compared with $112,468, an
Increase ot $7547 Tho net reached $57,
989. an increase of $2718 Surplus for the
month wnn $30,537, Increase, $1655. For
the three months tho gross earnings wero
$353,839, ngnlnst $331,063; net, $175,883,
ngnlnst $164,670: stliplus, $93,521, com
pared with $85,668 Neither the common
or preferred stock sold
The money market In this city shows
no npprcclnblo change Hankers say that
thcro Is very llttlo demand for money,
nnd that rates are ruling nbout the same.
White tho olllclal rate for call money Is
still nt 3 per cent., It Is said that thcro
have been Instances when this was shaded
slightly, but theso nro few. With the
DIVIDENDS DECLARED
ClintmcM Motor C'ompnnv, rcdutnr quarter
ly of 24 per i cnl on roimntin slock
Ileal llMnto Tltl" Iniurnnce and Trust Com
pany, rcffiilivr nunrlorly of 13 Per !mr. pa).
nblo Mnv 1 to stock of record April 10.
Consolidated Coal Compan, regular quar
tern of l' per cent, pajahln April LI) to
stork of record April L'J Hooks do not close
Kerr l.akc MliiltiR Compam, regular quar
terly of an cents u share, pajablo Juno 15 to
slock ot record Jtin 1 .....
Neu York antl Honduras Ttosarlo Mining
Companv, regular quarterh of a per cent, and
nn extra of 1! per cent . paallo April 28 to
holders of record April 18
Kojstono Telephone Company, regular seml
tinnual of 3'i per cent , pajaulo .May 1 to
slock uf record April 2(1
Advance in Dar Silver
In London Inr silver today vas quoted at
21) 1.1-lH pence, nil nilvunco of in pence
Commercial bar silver was quoted nt (U;a
icnls in Neu- York to,la, nn ndance of '
lent Ihls Is the highest prlco for the metal
sliiio October, 1013
money market In such a quiet mood,
banks have turned to the bond market for
the Investment of surplus funds. Short
term Issues or bonds which can bo dls
posed of quickly nro In the greater de
mand. Aside from York Itallwnys common,
which touched a new high mark for tho
year, there wns cry little to discuss In
tlio trading on the Philadelphia Stock
Hxchnngo today. The stock sold up
a full point nbovo yesterday's ctose.
Cramp trust certificates, which were
strong yesterday, wero oft H. hut re
covered In the afternoon. The further
advance In the price of bar silver had no
effect on tho mining shares Tonopnh Hel
mont nnd Tonopall Mining nnd they
were about unchanged.
The
Pennsylvania R.LC(f.
and Its S$im
is the suiject op,spccial
circulailjitit issued ail un
usual ni'),i
A Copy wiU be sent on request
EewAJtvfe Smith &Cq
BAJKKKRS
Established 1892
Uemttrs Kto York and Philadelphia
Btock Exchanges
Dnoin and Chestnut Sis.. Piiim.
SO 1'inb HtntET Nbtt Yoik
We Oiler .IQBO Shares
(Chestnut Street Slcalty Ctl3
MORRIS BlfLDINff
Illils Inrljed J?
L. N. Roscnbaum
80 Wail Street, Wcw York
RATES FOR MONEY
Neiv York
I'liiladelphln ... .
Uostoli
CtllCIIKO
Commer lnl piper,
phla, ;it:iH per cent
Call
.. 14fM
.. :i iP'J'i
.. .1
. ,Tjl
;t to il months,
Time
SVati.'l't
:i mi
I 'tH2
I 4'a
l'hllnilel-
Wc own and offer, subject to prior sale
$100,000
Georgia Railway & Electric Company
(ATLANTA. (ll:nit(!!A)
Refunding and Improvement Mortgage Sinking Fund
Gold 5 Bonds '
m Diiefjnnu.i
Paled .Innuarr 1. 1900.
Interest January, nnd
ot,.- .... .....!.. tt....li...l. it .-J. .. II
,r r luriKu.r nniiin . turno ea.ii,,,,'. ,iriiuui, ,.i...
Iielntr itmile for Itie reltrement nf nil nrlmllens'S JfU
i:nrnlne for ear ended Drrrnufer 31, IDlBSlvvllhrtonirfnratlre flcures for 1911, nra
repnrtrd us follows: H V
9, li tain 1914
OroHS .. . Jf.tllB.Ofi? SS.11it.S17
Net after Tiivet . ft . WW.! 2,or,H,.Tl I
Interest Cliurces . ?!. 711), o.l, ,l)l.:ill
!,, 4U1
m Dneynnu.iry I, 1919.
.iifly
tlioiConi0iin)r's properts, provision
Surplus
1.3111,'JU'
The Cnmpnn Is pnslni: illililtnil-flof S and K respectively upon S-!, 100,000 anil
fS.3ll.liOO Preferred and Common Mucin.
K
Price, 99 and intejrest, to net over 5.05.
Interest paid wllliout deduction of Normal l'edernl Inromo Tax.
Complete Vcsciipliic Clicular on Kiquest
CHAS. C. HARRISON. JR.r & CO.
f BANKERS
FIFTH AND CHESTNUT STREETS PHILADELPHIA
Mcmberfl Philadelphia and New York Slock KxchnncM.
Northern States Power Company
(Minnesota)
Ten Year 6 Gold Notes
Dated April 1, 1916 Duo April 1, 1926
Interest payable April 1 and October 1
Authorized $12,000,000
Prcient Iiaue $8,000,000
Coupon notca in denomination of $500 and $1,000, regittcrablo as to principal. Register
ed notes In denominations of $1,000 and multiples. Coupon and registered
notes interchangeable in multiples of $1,000
Redeemable ns a whole, or In part, at 10? and interest at any time prior to April 1, 1921 ( at 101
and interest thereafter and prior to April 1, 102S; and thereafter at 100 and interest.
Continental and Commercial Trust and Savings Bank, Chicago, Trustee
We have received a letter from Mr. J. J. O'Brien, Vice-President of the Northern
States Power Company (of Minnesota), a copy of which will be sent on request. Mr.
O'Brien summarizes its salient features, as follows:
These notes will be the direct obligations of the Northern States Power
Company (of Minnesota), an operating companywhich owns all the proper
ties formerly comprising the NortlArnS.StatesJ'feower Company system,
directly or through ownership of all seolritiesae&ept the first (closed)
mortgage bonds of The Minneapolis Hjeneril Elecj,pc Company and except
directors qualifying shares.
The system serves a populaUonVatlcnatW at about 825,000, and the
territory covered offers almost unlimited opportunities for development of
electric light and power business. The properties are well constructed and
are In excellent operating
The estimated value at the
total bonds and notes that will be
financing.
At the maturity date of these notes
of the then outstanding mortgage bondj
612.000,000 above such present equity!
For each of the last five years, gjfjpss and net earnings of the properties
have shown substantial increases over the preceding year. 1915 gross earn
ings increased $1,013,510 or 50.67 over 1011 "nt net earnings increased
81,288,608 or 81,.
The net income of the system for the year ended February 20, 1918,
was equivalent to more than 1 J3 times annual interest on all bonds and notes
to be presently outstanding; If the annual interest on the mortgage bonds
is first deducted from such net income the balance remaining Is equivalent
to 8 A times the annual interest; on the present Issue of notes,
, ,
The legality of the Issue and the form of the indenture will be passed upon and approved by
Messrs. Cumnilps, Roemer, Milkewltch and McKenns for the Company, and by Messrs. Stetson,
Jennings & Russell for tha Bankers.
Price 99 and Interest
If, when, and as Issued and delivered to us
les is novaiargely In excess of tna
ling upon completion of the present
le value of the properties, In excess
should have increased by at least
Guaranty Trust Company
of New York
William P. Bonbright & Co., Inc.
PhiUdeifhii
H. M. Byllesby & Co,, Inc.
New York Chicago
Spencer Trask & Co.
Nevf York
J
J
'! nW'iM'Mietotjfr -- 1 1 Hi -TlfflWal