16
VESTING LEDGERPHILADELPHIA, FRIDAY, APRII) 1& 1916.
FINANCIAL NEWS
STOCKS RECOVER AFTER WEAKNESS;
LIQUIDATION SMALLER THAN EXPECTED
Marltefc Withstands Disquieting Advices From. Mexico
and Uncertainty of the German Diplomatic Situation
, , Remarkably WellCoppers In Good Demand
NEW YOHK, April 14.
The st6ck market rtood the test of disquieting advices from Mexico ind
ttio uncertainty of the German diplomatic situation remarkably well. Where was
, decline In the lnltjal trading resulting from liquidation clicfly duo to lack of
response to ovcr-nlghl calls for margin on vea.k accountB. Thcso stocks wero
pressed for sale without much regard for prices and ns a consequenco of this
forced selling losses, ranging from 1 to more than 3 points, were sustained In
the) llrst few minutes.
The volume of liquidation, however, was far smaller than had been expected,
In view of the character of the Mexican nnd German developments. It was soon
evident that the demand for stocks on declines was far larger than tho supply
and, before many minutes passed recoveries wore In order. Banking support was
most pronounced In United States Steel common, which was bid for In largo
blocks, and there was buying of an Impressive character also In many of tho
railway Issues and (n humerous specialties after tho early low levels wcro estab
lished. "Leading Interests said that they did not look on tho situation with any
degree of apprehension and believe that now that the weak accounts hnvo been
liquidated th,o market will be Influenced to a less degree by any further news
from Washington unless It should take a favorable turn. In that event It Is
expected there1 may be soma urgent efforts by recent sellers to buy stocks back.
Bcrnhard M. Baruch, who is regarded as one of tho shrewdest operators on
tho Street, talked in a bullish Btrnin, expressing tho view that, with traffic and
Industry In its present highly prosperous condition, stocks nro bound to find plenty
Of buyers around current levels and that a. further decline should not bo looked for.
Tho copper stocks were In good demand nil through tho period of weakness
In tho early trading, and there was Impressive buying In many of the war-ordor
Industries. It was said by one Interest thoroughly Informed on Baldwin Locomo
tive that a substantial dividend on that stock is close at hand. Talk is extremely
bullish on Rending, which at Its present price Is finding many enthusiastic friends,
and It Is favored to a greater extent than any other of tho railway Issues.
Foreign exchango was Irregular. Bcforo midday French exchange spld at tho
now low record, at,' 6.08 ii, while rclchsmarks checks on Berlin advanced to 73.
WHEAT PRICES RISE;
NERVOUS AT START
Diplomatic Situation Causes
Stir in Market Which Brings
Early Weakness
SO 30
RO 2X
M 3i
72 3S
en on
6(1 ftR
GO 42
WEATHER CONDITIONS.
NEW YORK. April 14. Advice re-
Jelrtd at th Weather Ilurrnti thU morn
nz Indicated the followtnir weather ron-dltlnma!
Canadian Northwest . .clear
Northwest clear
Middle West nrerln.
HonthweAt ..prrrlp.
Upper Silas. Vnller ....clear
1.ower Ml. Taller . ... clear
Ohio Valley prrclp.
Tho following; precipitation tin Inches)
was reported! .01 nt KvaniWlle unci
Davenporti .02 nt IndlannpollK and Dm
Malnrsi .01 nt Chlcaco, Mprlnctlcld. III.)
.00 at Milwaukee und Cincinnati! .40 nt
St. Louis and Drntcri 1.0 nt Handaky..
CHICAGO, April 14. Considerable
nervousness was In evidence In the wheat
market this morning over the Washing
ton diplomatic situation, but. after weak
ness at the start, prices rallied quite
smartly.
May, after opening at J1.16U to
J1.1KT4. rose to Jl.17 before the end of
the first half hour, against S1.1GJJ, at the
close yesterday; July opened at $1.1
to $1.14, but moved up to $1.15, against
$1.14 at the end yesterday; September
started at $1.114 to Jl.ll'i but advanced
to $1.13, compared with Jl.H-i, yester
day's last price.
Tho market at Liverpool was affected
by the decline on this side yesterday and
predictions of large arrivals In 'the United
Kingdom.
A Yavorablo view was taken of the an
nouncement of the settlement of the Dutch
steamship strike. The Continent contin
ued to absorb export offers. Tonnage
continues scarce and this was responsible
for some apprehension abroad.
Shipments from Argentina for the week
wore 2,058,000 bushels. The visible supply
there Is 11,40,000 bushels. Receipts at
Minneapolis and Duluth today wero 263
cars, against. 131 cars last year: at
Chicago 181 cars, against 2 cars; at Winnipeg-
521 cars, compared with 219 cars.
Corn also moved upward after an easier
start. Large deliveries on May contracts
were forecast. The market at Liverpool
was Arm. Shipments from Argentina for
the week were 658,000 bushels. The
visible supply there Is 2,737,000 bushels.
New York Bond Sales
172000 Anslo-rr Be..,..
KiiJi) Am Tel cvt 4V4
limit Atchison gen 4s.
i'lHio jialt & Ohio 3V4 8
.Hoi. nun &. vnio 18
High.
uni,
114
.
12.30
p.m.
i3 It
1IS
114
FOREIGN EXCHANGE
"NEW YORK. April U, Weakness In
French exchange was the continuing fea
ture at the opening of tho foreign ex
change market this morning. New low
records were established at the start at
6.07 W for cables and 6,08 for checks.
Boon afterward still lower records were
made at 6.07 for cables, 6,08 for
checks. Jlelchsmarks were strong, rising
to 73 1-16 and 73 H.
The actual rates for sterling were 4,761
04.76 7-16 for demand and 4,77 for cables.
Lira held strong at 6.43 iz and 6.44. Other
Quotations were: Swlsa cables. E.17 ;
checks, E.18: Vienna, 12.53 and 15.55;
Stockholm, 29.75 and 29.80; pesetas, 19.40
and 19.45; guilders, 42& and '42ft ;
roubles, 3QHO30H.
KATES FOR MONEY
New York ............
PnlladalDhta. ... ......
Boston 3.
Call.
S 0811
Chlcua I 3HB('
uaroznerciai paper, a 10 u roomns. rmiuaoj
ftT per cent.
Phla. 3(
Time.
it83K
)lr
Reserve Banks' Discount Rates
10 or
lei.
,. S
a
a
Boston . .
New York ..
Th!Udlphl ,
Cleveland . .
Richmond . . ,
Atlanta
Cntcaso
fit. LouU . .
Minneapolis ,
Kansas City,
jjmiimu . ....
Sao. frsnclaco 3
Avrleul.
I Over 80.
Vloston, . . . .
tw York .
Iklladelpbla
?,'eUnd . .
Kirnood
AUlica . . ,
"- CSlrnro
fcl. U)US . .
dlnneaDolla
u .iijr.
aa ..... .
YrmnrAicA S t4
bitr 00 to 00.
er cent.
Over 10 Over SO
up to 3ii. up to OQ.
Jf aSf
-. jf
SM
4
a
a
n
s
s
a
3
34
4
-t
4
i
4
4
4
4
4
i
Over 80
UP to 00.
Trade acceptance!
uproou, eu
H
4
4
4
4
4
4H
Com.
to DO. modftv.
fSa ?S
-Hi i. i ti l WII.U ,. .... .,j:
1UII0 llrook itiip Tr 5a..HU'4
asuiiii Can Oov Ivm w i.. iihS
ajumt can Oov r.a : i,, irt
IJook Can Oov a !:: w 1. mis
IKHio Cent Iath Jet 5s..li)l!i
souo CM at. 1. Gh jus
1UHO Chl Jill & at P cv 0a.HI7
11000 DIs Secur Corp 5e.. 73
ouoo lnterb ilet 4 Via.... 7.IH,
L'UltO Jan new f R Hli hiii.
ii'wu .110 fnc CI !..
10UII N Y C & If lis
40IIII N Y City 4W 10U3
0000 N Y Itwy ndj Oa .
3000 Nor 1'uu prior 4a.
1 000 Nor l'ao iten 3a . . .
101)0 1'ubllc Serv N J Si
auuu Keauino ffen 4s
6(M) Ilwy atl ansa in '31
12000 South lJac cv 4s... 87ii
300 do tv Rh 1111
louuu South Ilwy den 4s.. 7(1
1000 South Ury van as... KiL'
luuil U S Itubber tin 10'J'i
24UUO U 3 Steel a t !is...lo,
100U Union l'ac 1st 4s... ui't
70U0 W B & M cv Sa wl..ll.t
l"-b
1N
on S
Hilt,
.11)7
. 37
",.
. !l.
Low.
113'
1II1H
04
8?a
loiU
Ullil
U1IV4
101?.
1111
107
78,
73 J
NOH
11315
1117
37
114
w.H
104 101
70 70
10 2 llll!
Ill2s 102',
1U4' 1K1H
117 h 7
1-J4ii ISlii
llll
10S
107
73i
73 JJ
sv
7SJI
107
37
114
UlJt.
l)
aa 4'4 win
Dft ii any,
87 S7'i H1
C0TT0x IS 3I0KE ACTIVE;
WITH HIGHER PRICES
Demand Sufficient to Hold Market in
Check Against Pressure
NEW YORK. April 14. Business was,
more active at tho opening on tho Cotton
Exchange this morning nnd the tone was
Arm with prices 2 to 4 points higher. Thero
was some good buying In the market from
many sources and 'the selling wns scat
tered, with tho exception that Liverpool
continued to supply various months, es
pecially January, as In the last few days.
After tho call, pressure wns continued,
but the demand was sulliclent to hold
tho market In check nnd nt tho end of tho
first 15 minutes prices were but 1 point
under the start.
Liverpool came about as duo on near
months, showing losses of 1 point, but
on October and January prices were Hi
2 points lower, or slightly below expecta
tions. Private cables stated that tho mar
ket was steady, with no selling pressure
In evidence.
There was some ralnfnll In Texas,
Oklahoma and northern Alabama this
morning, but elsewhere conditions were
generally clear.
12:30
p. m.
11.1)3
12.10
12.33
Liverpool Cotton
LIVEnPOOL. April 14. Futures dull,
unchanged to 1 point decline. Sales, 8000
bales. Including 5700 American. May
June, 7.59d; July-August, 7 55d; October
Xovcmber, 7.3Sd ; January-February,
7.30Hd.
Yest. 11:00 12:00
cloao Openlnsr. a. m. noon.
March 12.43 12.4H
May 11.70 11. SO 11.77
July 11.03 11.03 11.01 11.03
October ... 12.07 12.03 12.03 12 10
December . 12.23 12.2S 12.24
January .. 12.31 "12.33 12.31 12.33
Did.
.$100 BONDS
p.c
Alberta Province o(..., 4!j
Anglo-French 3
Arcenttne Government.. 5
City of llalto
City of Chl Har Con
city of N Or Imp ...
City of Vancouver . .
New York City rex .
New York City rug- . .
lliOOil.Kllt,,
Cen Ver Ily 1st reg- . , .
Chl 114 Q Den Bit .
C Hi St Peenrf con.
Chl M 4; St P con ...
Col & So ret t Kit .
e x ueni con oeu
08U
00
100
N Y A O Laka Erie lac B
3H
1"
3
over 30 to 60,
per rent,
!.
SH
34
3$
4 xer cent. :
and or DO, i
DAIRY PRODUCTS
(YESTERDAY)
Th mark! reported hirtnlth tlrta
amildar's clasliix prices and not the of
1 itr f pobllcatlsd- ToJai'a price art
liMU4 to tie Nlibt Extra, raitloa of this
uaxr mid U tuctcedint eJJUoa.
NYNH1II edeta... 34
KINIUKednt, fl
Norf & West 1st con .. 4
Sea Air Une 1st & con, 6
So Pan a F Ter lat ... 4
Vlrvlnian Rw lat . .... ft
Am As: Cheat con deb , f ft
Am Ue Sed deb ...., B
A T T coll tr ctfa , , 4
A T T conv ...... 4j
Heth Steel 1st ret .5
Cent Leath 1st ree ..,. ft
Ctt Ser con notes ., T
Com P Ry A I.t con .... A
Den Oaa Eleo lat .,,, 5
Gen KUc deb 3H
uitai ncii row con aeo n
Due.
1024
1U2U
1043
4 10(12
4 11)17
5 1020
4W 1023 024
4 i0R3 10(11
4',; ionn mi;
4 1D20 S2'j
4 1B?' (I!)
2014 100K
1032 100U
1033 83
1031 113
1046 09
103A 7h;
1048 113
100A 03U
Hid. Offer,
1)33
03
8
03'i
91V4
9
1041
1930
191)2
1924
1923
1829
09 j
Lack Steel 1st con . .
uicimia vjas ill ....
Llx Jl Mey deb res .
r.lg A Mey deb rear
P LorUlard deb re
P Lorillard deb ree
Pierce Oil conv deb
Mont Pow 1st tc nt
N T Air B 1st con
Wla Edls con deb .,
K3i
9814
OK
83
Dl U
1933 103
1042 lOOVi
10..1 1UII
191R 100
1918 101
1049 99
104J 81 1
1923 07H
1030 04
1019 100U
1044 123
1014' 123
1031 100
1C24 81V
1643 00H
193S 10.8
im 03H
101U
ios"
103
09H
ios"
1HH
iii"
94S
100i
00
ioo"
lOHi
102
-101M
103
100
127"
iii"
'ih"
071
103 a
New York Stock Sales
Irfit t . 12:30
close. Hth. lxw. p.m.
Alska Oold Mines.... 19J. Mi 1BH IM
Am As Chemical pf. . , 07J OOU 00H, JOH
Am Beet Sujat 70 08, 07K 08
Am Can ,,. 68 59H 6SH BOX
Am Car A Fdr 55 05 OHt ,05
Am Coal Products.. ...153 152 J52 15!
Am Cotton Oil.. .,,. 53 52H 52) 62J
Amlllde I-rtthcf... 0?li OH 9J ?
Am Hide A, 1, Pf cow 51 50H 51
Am lco Securities...... 20U 20! 26U 20
Am Unwed ,..,. 23! 2-t 23U 24
Am. Unseed pf,, 404 47K 46W -104
Am LocomollTe 72!. 725i 71! 72
Am Smelt ft Itef 08 07 0(5'. 00H
Am Steel Foundncs... 60 50 4011 50
Am Sugar Itcf... .109 110, 110 HON
Am Tel A Tel 128 128 1271s 127j
Am Tobacco .....191 104 101 191
Am Woolen,,...,,,... 47 47!i 45 475V
Am Wbolen pf OS 055 055 f 05) I
AmWrthniPpf 17 17H 17H 17M
Am ZlndtiA: Sm...... U1H 01J WHi OlJi
Anaconda Copper M .. 844 84U 845J 8JH
Associated Oil GOH 00 00 00
Atch Top S K 103 102) 102JJ 102
Ilald Loco Wkj 101J-5 101M 100) 100W
Hald Loco WkS pf 1085s lOS'f lOSK lOS'f
Halt A Ohio 8o)f 86JX 85)4 85M
Datopllas Mlnlnn 2H 2M 2H 21
Hrooklyn Hap Tr ,8(1 K',li 85V 85j
Ilurns Droj pf 100 108 108 IOS
Ilutto & Superior. . . . 5)2H 02K Oljf. 02
Cal Petroleum 22 22J 2Pf 22H
Cal Petroleum pf .. .. 4UW 40 40 40
Canadian Pacific lorM 1(10
Central Leather 52 52M
Chcs & Ohio 005 01
Chllo Copper 22Js 22)(
Chlno Copper 63! 53)
Chicago Ol West pf. . . 35 35
Chl Mil A St 1 in o.t
Chl M A St P pf 128'f 128)' 128U 12-!X
cm 11 1 rac 17M 17H 17 I7?i
Cluctt Pea A Co 72!$ 71 71 71
Col Fuel A Iron 42M 425 41JS 42)5
Consolidated (las 13314 132JS 132!f 1323
Continental Can S2V5 82!i S2h 821S
Corn Product Itcf.... 18'- 18t 181-S
Corn Pr63 Itcf pi. ... U3 03J i 03VJ
cmcmio sieci . . 88lt 88 80U
Delaware A Hudson. ..15IH 151!i 151
Distill Sec Corpn 45!i 40 41M
Domo Minos 2l 25 'J4W
ElccStoragollat C0.4 OOJi GOJf GOVS
Erie a,T 35 ,31 34H
Brio 1st pf 50Jf 50K COW 605
General Electric 1G5 1MH lOUj 101JJ
General Motors pf 1153J 11514 11554 116H
Ooodrlch It I" 705 705a 70 70
Granby Consol 88 8(1 M SO
Greene-Cananca 40M 40 4'M 46'X
Great Northern pf H05i 110!f UMi 11D5X
GNcfs lor ore-prop.. 4155 41)4 41 H 41M
21
105H 100
62 62)i
005 01
22)f 22!,
53 53W
.T-Uf 34H
1)23, 02
18!.
03! i
88!i
1,-1)5
45' i
Oucccnhclm Expln
int Agricultural pf..,
Int Con Cor v t c sti
Int Paper i ,
Int Paper pf
Insp Con Cop ,
Int Nickel v t cfs...,
IntM M cof dp....,
Int M Si pfcotdp.,
Kcnnecott Copper...,
Lack Steel Co
Leo Rubber Tiro Co
583
IG'f
11U
40J
45W
47
20Ji
72W
55)4
74)X
52
Lehigh Valley 77
Liggett A Myers 245
Liggett A Myers pf. . .120
Mackay Cos 705V
Maxwell Motors 71
Max Motors 1st pf.... 835S
Max Motors 2d pf 55
Mexican Petroleum. ...103
Miami Copper 37?J
Minn A St Louis OH
Mo Pacific tr cfs 4H
Montana Fo cr "8
Nat Cloak A Suit 78!i"
Nat Enam AS Co,... 23
Nat Lead Co G3)"
Nov Con Cop 16JV
New York Air Brake. .13S
NY Nil A U C05V
:ojv
51
10'f
to.'
47
44'i'
40) i
20)i
705V
61J
734
61Vi
77
240K 240
no; 110)4' no'v
20'f
68
10W
10' 1'
4S
15
40JJ
SOW
72JJ
Rili
73W
62W
COW
58
10!V
10(
18
I1W
401'
20M
72
54)4
734
62W
77
240
78
7134
84
54
101)4
3734
0)4
m
77)4
78Jf
235J
05W
17
135t' 131
C0)4 CO
8 78
70)V 71)4
84 81
"633' 51
00W 101
37Ji 37),
0)4
44
77)4
78)1
224
054
10! f
0)4
4)4
77)4
78U
23)1'
G3W
17
133
0034
101)4
27.4
120
005V
NY C A II R 101W 101H 100)4
N Y O A West 27)4 274 274
Norfolk A Western. ...121 1204 120
North American 60W 0031" G03f
Aormcrn l'acmc lllW 1114 1103J 11154
Ontario Silver Mln.... SW 84 85 8!
Pacllic Tel A Tel 3354 334 334 334
Pennsylvania II U 67 57 5034 504
Peoples Gas Chl 103)4 103 103 103
Philadelphia Co 424 4V( 41 41)f
ntts Coal Co N J.... 2054 20 2534 20
Pitts Coal N J pf.... 10254 101 10t 101
Pittsburgh Steel pf.... OS 08 03 OS
Pressed Steel Car Co,. 50 40 43 40
Pullman.Co 1G1JJ 101JV 101W 101W
Ily Steel 5p Co 374
Ray Con Copper 23)4
Readins S23V
llepumic iron A a.... 40)4
Republic I A Spf 103
St Louis ASF 14
St L A S F 1st pf.... 34
Bears itoo a co 175
Shat Ariz Cop 334
Southern Pacific gG4
Southern Ry 204
Studcbaker Co 13S
Tenn Copper 04
Texas Co 100
Under Type r 00
United Cigar Stores... !,2)j
union l'acmc. . . .
U S Ind Alcohol.
37
23)
82)4
404
108
1
2)4
175
324
004
20
USC IP A F 1034
U SC I P A F pf.... 51W
united Fruit 143
United Rys Inv Co.... 14
0 S Rubber 523V
US Steel Corpn 83
UK Sm R A M 73JJ
USSm R AM pf.... 524
Utah Securities 184
Utah Copper 81
Va-Caro Chem 43
Va Iron Coal A C 51
Wabash 14H
Wabash pf A 44
Wabash pf B 204
West B A M, fiiw
Western Maryland.,... 3Q)i
West UnloaTe! 8834
Wheel A Lake Erie.... 34
Willys Overlann 227
Willys o pis r f p,., 101
37
23
813V
49
108
14
24
175
32
934
104
137J4 1304 137J4
51 50)4 50)5
180 183 18'J
90 SXW 00
02)4 024 924
...131)' 1314 1304 131
...1534 1304 151 155
37
23
S2
40)4
103
14
2)4
175
32
004
20
10'V 194 105V
505V 504 504
1414 1414 144 W
11
635V
8254
734
11
524
82!V
7234
52
17H
79J4
43
50
144
434
20
01)4
20)4
88)4
33V
18
81
43
50
1454
44
20
014
304
88)4
34
227 220 227
1034 1034 103)4
11
53
82H
73
62
17)4
81
43
50
14)4
43H
20
013V
30
884
33V
WoohortsFW 1254 1244 1244 1243V
Quoted ex dividend.
PHILADELPHIA
MARKETS
PROVISIONS
LIVE STOCK QUOTATIONS
CHICAGO, April .1.4. HOGS Hecelnta.
mariceis 10c. mgner; mixed and butch.
.u.vw, ,.,i nca
era. 19.35010
to man nji
rouah heavy. 19 4&ffV9.6A. llKht ti nftrt.'
pla. 18 1609.25. bulk. 9 7809.98. '
t CATTLE -Rewlpts. 1300: market steadyt
beeves. 17 SOU 10. cows and fu.lr.ri. 13 os
Iruilrafa nnl eAaJdaBaB V iMIfHu atrft-
"J" " a V
0.15:
tins. $7 cvo
K.TO- Ta.
ts. 7 ROttOs caI.u, 18 50 UK). ' "-
Uv g4 NYeatexpj t 18-J9.10. Umbs. J9V23
JaUtTTEl Tb market tboweJ no Impor
tant cbatua and ruled DTK- Huysns wer
operatic: cautloosly but rtcelpls at aolld
iclu.1 craamerr vera l!ht, aad Oamand was
aoMoUat to keen aurollea well slMued up.
ltdle were ulet and uocbanred. with light
BSertut. ITluta ruled firm under email aui
WUs Aid fair itemaod. QjoUttooa:
WwMrn, (reaii. aeUd-paeked creamery, fantx
Plata. 3M0c., axtra. 3Sc. extra. UrstaT
s.i nrata. SXe,. iecunAs. UlUim., ladla
e -S7c. nearby print, fuiwj. -I tc, ;
verM. extra, 0i du,. Orate. MBSai-;;
ajgi4--T5i nurkait a depttiiej by man
iiiwr! ,ritt Mi InarmMil prosure t sett.
A ejSs7s5eUBail 15t imr . At rvitl
rSu wr. ieajia Waj Xalrly ttfi'
i.i-J .tni4ja v.eiv wu ttfiatu us Ojuta..
fjBatnty , w vz - enr rftu.
IWP -; aaww v
wwmttm mix
HsH .w
s
pTS m ( ,-. fif5St.
inwwm m
verssa
itjPlfcp
DIVIDENDS DECLARED
GermantQwn Truat Company, resular semi
annual of S per cent., psysbla May 1 to stock
el record April 23.
f uuucipuie tvurecvuaiua; ana vela storare
Company. 3 per cent .
or record April (H
payabWTMay 1 to stock
uermia-American 'iiru ana 'atubc company.
regular semiannual of SM per cent., payabla
April 23 to atofk of record April Tt
NEW YOHK COFFEE .MARKET
NEW YORK. April H-Tha coffee
market started steady and, 2000 bags
were cold at the opening, December cold
at 8.50, off 4, and' March at 8.60. off 5.
Tef day's
cloae
8,700a Tl
8.12Q8 1(
S.l'UOg-21
e.sqejs.37
M
JUarcb
April
May .
Juna
July
Auxuat
Seotombftf
Otlobejr
fiVSKioijtr
lc;inbsr , ..
J5uary . . . . . .
Jrrt'Ury
.via siM, mm
Today's
' B.4f ',
8lii
is?
8 9S9lf ii
k.ia ' '"
tui
S37?
8.421
tt.oti
- in
i8
L&fl
The market was quiet, but firm. Quo
tations: City beeT. In sets, smoked and
Hlr-drled. Suc.t 'Western beef. In acta, smoked.
SBc.t city bf. Itnuckles and tenders, smoked
and alr-drled. 272Sc.i Western beef, knuckles
nnd tenders. mmnkfA. "T("K-: hf hnmu.
.'-'8830.- pork, family. l.B0g20; hams. 8.
r. cureu. loose. iTsiffittc.t ao., akinnea,
loose. 17'.i01Sc.t do., do., smoked. 1SM0
19o.t other hull, anokeri. oltv furnl. aa to
brand and average. ISOlSWc; hams, amoked.
Western cured. IHMlSHc.l do., boiled, bone
less. 30c. t picnic shoulders. 8. P. cured, loose,
lSUc.i do., smoked. 13H13Hc. beTllea. In
Elckle. accordlnx to average, loose. 133s&16a.t
reajfast bacon, as to brand and averaiee.
city cured. 19c.t do.. Western cured. 17 W
18c. t lard. cetera refined, tierces. 12c: do..
do., tuba. ISc.t do., pure city, kettle rendered.
In tierces. 16c. do,, if,, in tubs, 13c.
REFINED SUGARS
There was Itttl.
wera firmly neio.
0rantitatd. 7.1SI
7. Sic. j confectioners'
cradea.
Iradtn
uuom
7.1ST.28e.i
:x. but list prices
uotatlons: Extra rln
e. J powdered. I.73U
A, 7.03df7.1Sc.: soft
DAIRY PRODUCTS
CHEPSE Trad waa quiet, but tha market
usiiir jmut aiicruui. wuoiauc
ruled
IOI10W
firm
: Naw York, full
itn do., do., zal
; do., do., part skims,
fancv heM.
fair to Rood, held, log?
1 Iff IOC.
FRENCH SEEKING
PLANS TO SOLVE
RENT PROBLEMS
Deputies Suggest Exemp
tion for Tenants Un
able to Pay
MUST HELP LANDLORDS
By YVES GUYOT
Ex-Mlnlstcr at P'lhllc Works, ttdltor t.'Agenco
Hconumlnue ct Flnanclcro.
Spcelnl Cable to Evenlna Ledger
PAMS, April 14. Tho war troubled
mnny bualncaa rclntions nnd a mornto
rlum wntt tloolnred-for commcrclnl nftalrB,
but thero is nnothcr moratorium that
tho law did not establish. It declared
Itself spontaneously. Tills Is tho rent
moratorium. Nearly all small Icnsehold
era have ceased to pay rent, and many
large ones also. This moratorium Is more
grave than tho other, because the com
merclal moratorium was limited, while
tho rent moratorium, like the brook. goc3
on nnd on nnd tho slzo of tho debt In
creases every three months.
Tho Chamber of Deputies, therefore,
has taken up this question, and now pro.
poses to pasi n law rstnbllshlnR trlbunnla
which can wipe out nil or any part of
rents for tho whole period of tho war
and until six months after peace, basins
this decision on the losses of the renter,
suffered through war. This will relievo
tho majority; of tho commcrclnl housei,
cither whole or In part, of tho necessity
of paying rent. Hut thero Is a further
blanket clause that ulpcn out all nrrcnrs
or rent for those who" do not pay more
than 600 franca a year, and Rives them
rent free to alx months after peace Thlo
assures that soldiers and their families
will not bo turned out of their homes, but
will also bo a heavy blow to many Rmall
proprietors whoso whole Income comes
from little places renting for COO francs
or less annually.
There will have to bo another morator
ium added for tho benefit of thcso llttlo
proprietors. Moreover, the rent morator
ium will furnish another handle for the
Socialists In tho future.
Tho Comptolr d'CGCompto de I'arl.t
shows In Its nnnual stntoment profits of
10,000,000 francs In 191D, and proposes
to uso 10,000,000 trt pay a SS-franc divi
dend. It holds 636,000,000 in bond.s of
national defense, nnd has 288,000,000
money In vaults with a reserve of 40,-000,000.
Financial Briefs
POULTRY
1,1 VE- Desirable stock was In fair requeat
and values uere welt sustained. Quotations
Fowls. 20021c . some fancy fat stock hlsher,
roosters. 124213c chickens, soft meated, 'jate
ile; exceptional, lota hlsher, do., eta-y. 1-40
if?-
sue
17 Klllc . oureons. old per
do., young;, per pair, S0V22c
FRESH FRUITS
. laq
pair.
iiO
Choice stock sold fairly and valuea sen
eraliv ruled ateady under moderate offerings
Quotations: APPlea, per bbt Wlnesap. 13ft
duui 40. urceuuuf, ,muo.
1: Baldwin,
Bon DjaIs. I i. 75 ji-' 23: other varieties, Jl to
per bos. II 25(4J TB. Oranges, Florida, per
crate, 12'50 Bf Tangerines, Florida, per
strap, itasm Qrapefrult, Florida., per
fjate. I1.T4. Ifmona. per box,, j2gf.
Pueapplcx, per crate Porto Blco, JSSOSO.
rxanberrlea. Jeraey. .per bbl.. H07 do.,
Jersey, per crate. 1(02.23. Strawberries,
flortdi. per. nuart JUfrUerators, S83e..
open cntft, IBfflie,
Itocltlilll Iron and Coat Company stock
holders at a sncctal meeting yesterday
voted to increasi tho Indebtedness of tho
company from $970,000 to $1,170,000.
Tho Merchants' Union Trust Company
offers $200,000 Krlo llallroad Company
general mortgago convertible 4s, series D,
maturing 103E, at S5, and interest, to
yield mora than -1.80 per cent.
Tho annual meeting of tho stockholders
of the Tonopah Mining Company, of
Nevada will bo held nt tho olllco of tho
company, room 572 Bullitt building, on
Tuesday, Mny -', nt 2 p. 111. Proxies aro
asked In favor of W. 13. Aumont and John
Willing.
Benjamin Strong. Jr., of thoFcderal
Reserve Bank, was a passenger on tho
steamship St. Taul, which nrrlved at New
York thla morning from Liverpool. Mr.
Strong oald that ho had no statement to
make.
The New York Subtreasury gained
$677,000 from the banks on Thursday,
making a cash net gain slnco Friday of
$1,976,000. ,
Total earnings of the American Tele
phono nnd Tolcgraph Company for the
three months ending March 31 wcro $12,
602,108, an increase of $997,614 over the
corresponding! porlod of 1915, Net earn
ings were $11,253,237, an Increase of $976,
512. The gross earnings for the same
period of the American -Jclephono nrd
Telegraph Company and holding and asso
ciated holding and operating companies
in the United States were $12,012,644, an
increase of $4,280,364 over the correspond
ing months of last year, and the net earn
ings were $12,672,888, an Increase of
$1,965,089.
The Interstate Commerce Commission
found the proposed cancellation of Joint
through rates on lumber from producing
points on tho Chicago and Northewestern
Railway In Minnesota, Wisconsin and the
upper Peninsula of Michigan, to a certain
point of the Chicago, Milwaukee and St.
Paul Hallway wests of Mississippi, not
justified.
Pacific Gas and Electric Company has
called a meeting for April 29 to declare the
regular quarterly dividends of 1 Vj per
cent, on the llrst preferred and the original
preferred stocks of tho company, both to
be payable May 15 to stock of record
April 29. .
The American Gas and Klectrlc Com
pany has called a special meeting of stock
holders for April 28 for the purpose of In
creasing the authorized capital stocks of
the company from $1,000,000 common to
$7,000,000 common, and from $3,500,000 0
per cent, preferred to $7,500,000 pre
ferred. California Oil Company, to acquire and
develop oil lands nnd springs, wns Incor
porated at Dover, Del., with a capital stock
of $5,000,000. The Incorporators were
Howard B. Hayden. San FranclECo ; Leon
ard A. Block, Washington, D. C, and J, Q.
Gay, Wilmington, Del,
Announcement was made today that the
Texas Power and Light Company, the
principal operating subsidiary of South
western Power and Light Company, pur
chased both the private and municipal
electric light and power plants at Mo
Klnney and the electric light power plant
at Comanche, Texas,
More than 76 per cent, of the stockhold
ers are reported to have agreed to the
plan of reorganizing the Minneapolis and
St. Louis Railroad by agreeing to an as
sessment of $20 a share on the stock.
wwfwBfta;&siHfcjfcgwro
BANK CLEARINGS
m j
4fpVMH
gmiis
jsopvtm
" TiA"
j&mm
today compared with corre-
0.Tn.fi MTI1S40
,Sv ,M4.i
4.sfi,l
Carefully
of proved
Set;
MELI
selected! securities,
aent.
fotaSfcu.lar.
& PETRY
rV-i-Vnt kin-b- V--tt--i
Member 1 PhtU. Stock Kbane
Hi COMMERCIAL TRUST BLDO.
1. SOUTH UKQAU STHKT
I
Sales in Philadelphid
High.
17 Am Itwy pf,, 01)
15 B k B T C pf 50
Low. 12:80 p.m.Cher.
10 Crucible Btl .
00 Elec Stor .,
40 Qcn Asrh pf.
100 Goodrich Co
SO Ins Co N A
10 Kenne Cop..
800 Lake Sup Con
18 Lehigh Vnl
87 H
00 "i
7tH
70
2574
54 Ti
OH
17'i
lfl Minehtll 57
718 Pcnnn It It...
23 Vn. Steel pfd..
300 rhlln fllcc ...
210 1 It T I c..,.
24 Phlln True...
10 Hay Cons
67
08
27K
17H
70
23H
210 rtendlr.fr ..... 82 '4
42S Tonopah ftel.
210 Tonopah Mln.
12 Union Trae,.
100 Utah Cop ...
2220 U 8 Steel...
30 War I A 8..
Inn Wm Cramp.
80 York Ilwy ..
4i
O'i
13
80H
82s
loi;
81
13
00
50
8T4
60 H
7IM
70
2.1 '4
51 14
OK
70 4
67
M
08
274
17H
70
,2S4
82
4H
0W
43
8071
10i
SOU
13
34
'.4
f
en
50
87H
00H H
71H
70
2574
54 74
0 .....
70 !4 U
67 .tti.
57 .....
08
27H
17K
70
23H
M
H
tt
'.4
u
U
k
BONDS.
Itlah.
4nnn Am o A b 6s. na'i
ibouo int'st nys is ns
lnno I, N ens 4'4s.H)2i
11)00 L V iten U.. 03
17000 do sen conn
4'4 Drocl
ret wl r., 10074
6000 I't Co Rn 4V4 9.HI2.
3U0U lte.idlnir gn 4s U4',4
Low.
lo5
4H
OH
43
80H
821J
10i
81 2
13 M
12.30 tfst
I'.Jl. ensn.
10074
llij
9VA
03V4
1021;
83
10074
U-l 4
$1
LOCAL COTTON AND YARN
BUSINKSS CONTINUES GOOD
Conditions in Other Lines Aro Also
Fine Collections Fair
Conditions In the local cotton and cotton
yarn trado aro still In a very satisfactory
stato from tho dealers' standpoint, ac
cording to tho weekly trade review of It.
G. Dun & Co. A large volume of business
Is being done, especially In tho higher
grades of yarns used for weaving. Busi
ness In tho lower grades, especially tho
knitting yarns, is not quite so netlvc.
Prices nre firm nnd steady and It Is be
lieved that tho present good demand will
continue; for come time.
Tho wool market has developed no Im
portant changes during tho Inst week.
Manufacturers are still well supplied with
stocks of wool. The mills all appear to
be busy, nnd dealers nro confident that
they will need additional largo stocks of
wool In the near future. Prices nro gen-'
ornlly firm nnd conditions In this line of
trado appear to bo generally satisfac
tory. Shirtwaist manufacturers contlnuo ne
tlvc. Thero continues, however, some
difficulty In nbtnlnlng labor. Manufac
turers of men's clothing, etc., novo also
been handicapped somewhat by the labor
rituatlon and have been unablo to make
their deliveries promptly.
The Iron nnd steel mnrkot continues to
show nctlvlty and business continues ne
tlvc. Mills aro working to full capacity.
Tho demand for finished product In nearly
nil lines Is strong, though heavy structural
material Ih reported to bo not moving as
actively as the others. High prices have
a tendency to discourage large building
operations.
Shipbuilding continues brisk nnd com
panies aro reported booked ahead for six
months. Locomotive builders are also
well employed. Dealers in electrical goods
report a satisfactory volume of business.
Prices are reported firm and collections
aro fair.
Local lumber wholesalers are well
pleased with the situation In general, al
though It Is reported that building opera
tions do not promise as well as hoped for.
As a general rule, prices nro several dol
lars higher than they wore at this time
last year.
Tho leather market is firm and actlvo
and only moderate stocks are reported on
hand. Glazed kid is In demand and
prices for raw material and finished
leather aro high. Shoo dealers report a
fairly good trade, although the tendency
to buy In small quantities continues.
The weather conditions the past week
somewhat retarded the starting of new
building operations., .The estimated cost
of operations for which permlted wero Is
sued was about $60,000 less than the prev
ious week, but was nearly $300,000 In
excess of corresponding week In 1916.
Conditions generally In tho wholesale
grocery line aro satisfactory. Prices aro
firm ; certain kinds of canned goods are
high and collections normal. Hetallers re
port satisfactory business conditions.
NEW YORK CURB
HIil.
: iS'1
. 3T
.180
. 42
r,1,H
. 3
Aetna
Am Int Co
Aran Marc
Itrltlsh-Amerlcan Tobacco .
t'erro fie Pasco
Chevrolet
Curtlss Aeroplane
Cuban Cane Susar
Cuban Cane Sugar pfd . . .
itenucMi .Miff 11
l.chljh Valley Coal Sales KS
Mairma Copper 17't
Mlihalo 112(5
Nlplsslne 7
Otis Klevutor no
Otis Kleator pfd HO
Peerless 25!
Penn Mnr Ord , , ,
HILer-IlcKeman 474
Sterling: aum li
Suhmnrln 31
Tobutco Products -II
Unlteil Proilt fahurlnc new 1S-1Q
World Kllm 1
While Motors 511
Yukon UolJ 2
Asked.
1
HI
38
1S3
47
llll
031J
Hi
03
113
IS11
V
$
GOVERNMENT BONDS
, recletered. 1030 1
2s, coupon, 103'i
:u. recistered. 1018 v
3b. coupon, 101S ..
4.1. registered. 102,1
4h, coupon, 1023
Panama 2s, reslitered, 1030
Panama 3, registered. 10.1s ,
Panama 3s. reslstered, 1001
Panama 3s, coupon
Bid. Asked
00 100 H
in' 4 . .
..iniI
. . 1 1 11 S
.. 00
..DOW
. .102 VI
,,103K
102 U
Pennsylvania
Gasoline Company
Producers of natural gas and maun-
fasturrra of hioh'Orade gaiollne,
CAPITA! STOCK $1,000,000
in VALtIK OF SIMKKS Sl.00
Tha nature of this Comnanv's bualneis
nnd the conttnuallyLlncrraslnr prices of Its
alute consideration of
Res of Us shares.
-ulur ou Krqueat
product Justify
the market poisfi
Descriptive
om GO.
Members of Phlla. Block- Exchange
Iteal Estate Trust llld.
Philadelphia, Pa.
The Ocean City
Golf Club ,
The
Island Golf Course
By the Sea
(18 HOLES
Completion Guaranteed
Unusijal opportunity J& Charter Mem-
Ferpatiut Lite Csrtlnctetnd Biaticlal
Interest. A w, inarier jiiamiajj
For lUusti
nr address
HL'KNS-nODDBlDOB-WIIITK CO.
Stock Excitant, UUU., t'ldU.
A Few CbarterlMitfilfcrshlpa
If? CjrlClls call
We Offer 3000
(Chestnut Street Rea
M0BRIS BUI
8U lulltt
Lt, JEV. uosenfaum
Sfl WsOl Street, jprw
hares !
Co.) bus
BAR SILVER ADVANCES TO NEW
HIGH MARK ON lESENT MOVEMENT
Producers' Offerings of White Metal Smaller No
Stocks of Consequence Now Held Week's Bank
Clearings 83.5 Per. Cent. Above Last Year
The continued advance In the price of
bar Oliver, both In New York and London,
has attracted n great deal of nttentlon.
Again today the prlco of tho white metal
was boosted, tho quotation In New York
being" advanced Ue. to 63$ic per ounce,
wh.Ho In London It sold Hd. higher nt
JOVbiI. Both prices nro high for tho pres
ent movement. Tho market Is Indeed In
a very strong position, nnd tho demand
for the metal Is large.
A mini conversant with the trade said
today that jecont offerings of the metal
by producer's havo been smaller In volumo
than nt nny time that he could recall In
recent years. "All advices Indlcato," he
said, "that there are no stocks of conse
quenco being held, Abroad tho stocks are
reported as extremely low, while buying
by tho English and other European mints
for foreign coinage purposes Is large."
The further advance In the motnl had no
effect on tho mining stocks on the Phila
delphia Stock Exchange. Tonopah Min
ing rosa only a small fraction, while Tono
pah Belmont was unchanged.
Clearings through tho banks contlnuo In
very satisfactory volume and Indlcato the
prevalence of unprecedented business
nctlvlty In all parts of the country, tho
totnl this week nt tho principal cities In
LONDON STOCK MARKET
American Department Is Hit by Gor
man and Mexican Crises
LONDON, April H. Trading In Eccur
Itlos on tho Stock Exchango was fairly
brisk today nnd tho markets generally
wcro firm.
ailt-edffo Issues wero strong nnd higher
on tho confirmation of n purchaso by
Dutch Interests of 7,000,000 yearly treas
ury bills against purchases of sugar by
Great Britain In Java.
Bccauso of tho gravity of German nnd
Mexican affairs the American department
was heavy and lower. Canadian Pacllic
was affected sympathetically, but Grand
Trunks wero firm.
Alterations In homo railway shares
wcro confined to fractions and wcro mixed.
Mexican rnllway shares wero feverish.
Argentine rails wero flat. Tho foreign de
partment was steady. Tho French loan
was hard, notwithstanding a further rise
In French exchango.
Iron nnd steel shnrcs wero Irregular on
the fixing of maximum prices for these
motals by tho Government.
Oils were dull. Royal Dutch descrip
tions wore easier. Mines wcro quiet.
the United States, nccordlng to Dun's Re
view, amounting to $4,034,430,063, an In
crease of 33.5 per cent, compared with ,
$3,021,801,027 of tho same week last year
and of 46.5 per cent, ns contrasted with
the $2,754,448,705 reported for the corre
sponding week In 1914,
Except for nctlvlty In United States
Steel common nnd a drop of 2M points
In Cramp trust certificates, tho local mar
ket was uninteresting. Cramp started at
80', on an odd lot of 2G shares and later
sold at 81, More than 2200 shares of
Steel common changed hands In tho first
two hours' trading. Opening at 82 U, It
sold off to 82;, but later went to 82T4,
a gain of H as compared with tho closo
of last night. Pennsylvania .Railroad
stock was steady. Electric Storngo Bat
tery lost more than a half. Lehigh Val
ley, after gaining U on tho Initial transec
tion, lost the gain and a '.i more.
California Electric
Generating Company
6 Cumulative Guaranteed
Preferred Stock
Dividends guaranteed by the
Great Western Power Com
pany. ,
The California Electric Gen
erating Company owns a
modern and important steam
generation station at Oak
land which is essential to the
Great Western Power System,
as it insures continuity of
service.
nnplicabtc to divi-
cntirc issue of
equal to over
Earnings
,dcnds on
preferred
7.5 times
For pricq
lion send
lie requirements.
Jim
TrAjitvtllar No. SCO.
r infi
r No
orma-
William Oonbright&Co.Jnc.
MORRIS WISTAR STROUD, Jr.
Mnnncer
437 Chestnut St., Philadelphia
Hew York lloston Detroit
London Fnrli
William P. Donbrlght & Co. Bonbrlght A Co.
PHILADELPHIA BRANCH. OFFICE
Commercial Casualty
Insurance Company
MOVED
to 136 South 4th Street
to larger quarters,' made necessary by expanding
business.
This growth is due to the confidence of the Phila
delphia public in this company's impregnable strength
and broad-gauged policy of service.
Our facilities in our new offices for handling your in
surance business quicUly and efficiently are uncqualed.
THE INSURANCE WE WRITE
Employer's Liability
Public Liability
General Liability
Workmen's Compensation
Elevator Liability
Personal Accident and He alt
We specialize An 'Automobile Liability,
froperty 3ja.
We cordially in
rrnKrinrf dnllixinn Insurance
r?f i
J M J -h
iyite vriu tor calk at our new location.
(,
Dnmh
s4gL
Are
(KfM
"&7-
I vi
Automobile Liability
Teams' Liability
Plate Glass
Contingent Liability
. Industrial Accident and Health
'i
&
r AV.A-
1YCE
r NEWARK. N. J.
PHILADELPHIA jOFFICE, 136 SOUTH 4TH STREET
Joseph A. Brady, Manager
MERCHANTS UNBON TEIOST 00.
715-717-719 CHESTNUT STREET
Capital $1,000,000
Surplus & Undivided Profits $228,703
Bond Department:
Offers, Bubject to sale or advance, at 8iWj and .interest
and yleldink over 4.80 fo
S2(fb,000
ERIE RAILR0AD
General Mortgage Convertiblep's, Series D
Interest A. & O. Principal due April 1st, 1953
Eipcll attention la drawn to the fact that these bands are conrsrtlble at the
option of lioldere Into Krle ltullfond Common stock at 50 per eliare from April let,
1918, to October 1st, 1987. In view of the marked Improvement In the condition pf
the Erie Kollrpsd and the present larse surplus earntnee thereof, the privilege referred
to should be valuable, developing- with any advance In the shares beyond 1S,
Investors are invited to com
fer with our Bond Depart
ment in regard to Informa
tion on, American and
Foreign securities,
All form of Trust Company
business transacted. Will
drawn for clients without
charge.
The Trust Department by
reason of it personnel give
that oiBcial oversight to the
business entrusted to It
care impossible to be pb
tained where question of
fTutfne pass almost entirely
under the control of clerk
ar parson ints yerienrsva til
trust Matter
JOHN H. niOUEN. President.
JOHN 8TOKK.S An.VMS.Vlce Pres. 4 Trust Officer.
WM. J. CLARK. Treasurer.
C. rKHOY WILICOV, Asst. Trust Ofllcer.
II. LEJ2 CAbbiXBKltRY, Asst, Tress.
Director
JOHN S. BIOREN
JOHN STOKE3 ADAMS
aEORQB BURNHAM, Jr.
WM. J. CUUIK
SAMUEL 8. FEL3
, CLARENCE L. HARPER
CIARL,E3 8. HINCHMA
JAMES O. LEIPER
EPWARO a. McCOLUN
B. CLARENCH MILLER
J1ENKT V. MITCHELL
8. PAVIS PAOK
HOX1ACB T. F0TT8
BDWAKD 8, SATERES
WILLUil C, JJTOHVSR