12 JBfa i.M .KtrtC FINANCIAL NEWS PRICE MOVEMENTS DOMINATED BY Gfthis Throughout the List Result Because of More Hopeful Outlook for Adjustment of Differences With Germany Rails More Active 4. . l . NEW TOnK,- April 27. :Price movements and the market tone were determined this morning by vfepmenta at Washington, including tho Administration statement of yes- twtJity- oh tho submarine- question nnd the apparently nuthomed statement tins Burning ot a more hopeful outlook for the adjustment of diplomatic differences With Germany. A bullish factor was also furnished In tho expectation that the conference between Generals Obregon and Scott wilt result In harmonious opera tions on the other side of the Mexican border. The market was In good condition for a substantial response to favorable developments becauso the general price level has been placed on so low a basis as the result of the liquidation nnd bear efforts of the lost three months, creat ing an oversold position with an excessive short account. Covering of shorts hd much to do with many ot the vigorous advances noted after the opening, bdt there was nt the same time a broader speculative Interest, nnd a general demand was In evidence for many stocks which have, been laggards In previous Upward movements. Most satisfaction was expressed In Wall Street over tho activity and strength of tho railroad shares. Erlo and Union ha.ve been for months post, and therq St. Paul, Chesapeake and Ohio nnd many other of those stocks In which long accounts can now bo created nt what seems to be a low basts. Leading Industrials reflected continued absorption and moved up easily, with "United States Steel common advancing more than 1 point, and many specialties making gains of 2 to 3 points. The extreme gain of the morning was made In s Cuba-American Sugar, which rose 10 points, to 230. American Locomotive mado a gain of 3 points during the forenoon nnd was followed closely by Baldwin Locomotive. Tho reports that Philadelphia Interests are buying back Baldwin Locomotive finds many believers here, and credit Is given tit important circles to assertions that some Important developments In' regard to that property nro close at hand. Tho Mexican group was active and strong, with Mexican Petroleum gaining 3 points, and substantial gains were made In American Smelting and Greeno-Cananca. COTTON EXCHANGE BUSINESS SMALLEST IN MANY MONTHS Increases After tho Call and Buying Forces Prices Up KEVT YORK. April 27. Business on the Cotton Exchange this morning was the smallest since the market reopened, 17 months ago, after the shut-down due to the .European war. There were no transactions In May and December, with only one bid for tho last-named option and for March. In all thcro were but Ave trades on the call. With the exception of selling of October and buying of July by a promi nent spot house, the trading was widely scattered. After tho call business In creased to n moderate extent with the buying larger than ,tho supply, and re sulting In gains of 2 to 3 points over the Initial levels.' which were 2 points higher. The tone was steady. Liverpool at the start was half higher to 1 points lowor. but later rallies car ried quotations to 1 VS to 2 points over the previous close. Tho prices wcro due to como 1 to 2 points lower. There was little or no business In the English market. In the South the weather was unsettled. with rala In the northeastern section and in southern Texas. Temperatures con tinued quito low for this season of the year. The recoipts of cotton at tho ports for the day were estimated at 16,000 bales, compared with 22,784 bales last week; 16,695 bales last year and 18,593 bales In 1?1. 12:30 Tes. close. Open. 11 a.m. 12m. p.m. Much tlMlci u.tsu .... .... .... fiy ll.lil 11.03 11.U0 11.D2 11.02 July 1S.00 12.07 12.07 12.07 12.07 October ..,,12.24 12.2S 12.22 12.24 12.24 December ..12.40 12.42 12.SII 12.41) 12.411 January ...12.41) 12.GU 12.40 12.47 12.47 Liverpool Cotton LIVERPOOL. April 27. Futures steady, point - decline to 2 points advance. Sales 8000 bales. Including 7000 American. .May-June 7.64, July-August 7.02, October November 7.48 H. January-February 7.40. MEAT ANIMAL PRICES RISE FOUR PER CENT. IN ONE MONTH Advance of 19.1 Per Cent, in Year, Says Report WASHINGTON". April 27. Prices of ajeat animals continue to rise, an average increase of 4.3 per cent, from March IS to April 15 having been announced by the Department of Agriculture. Prices being paid to producers for hogs, cattle, sheep and chickens on April 15 averaged about 19.1 per cent, higher than a year ago, 8.L par cent, higher than two years ago, and 14.4 per cent, higher than the average ot the last six years on that date. DAIRY PRODUCTS (YESTERDAY) The market reported herewith clvee yesterday's cloilns vrlces and net those ot tho day of publication. Todnr's price are quoted in the Nlsht Kxtra Kdltiaa ot title payer and all succeeding editions. BUTTER There waa a decline of lc. In solid-packed creamery .due to lower outside advtcas. but demand wa fair at ravlaed fie urea. Ladles were quiet but steady, "with light aftertax'- 1'rlnta were lc. lower In aympatby with solid-packed, but demand was (air and the limited receipts were kept well cleaned up. Quotations; Western, fresh, solid-packed creamery, fancy specials. 37c. i extras, 34Vi35c; tints. 34c; seconds, JJtfMVic; Udle packed, 27626c; nearby prints, fancy. SSe. ; do., averasn eitra, 7c. do- rirsU. 23 tr SBc; seconds. 33 O 31c; special fancy brands of prints Jobblna at J6GGS The market waa In cood shape and arm. Receipts were liberal, but there waa a soct demand that kept supplies well cleaned up. Quotations: Nearby extrut. 28c per dor.; nearby firsts. K.76 per caae; nearby current receipts. I a. 60 per caae; nearby seconds. a. 8006.18 per ease: Western extras. 24925c. per doa.j do.. aeAra firsts. 18.75 per caee: do., firsts. 10.80 Mr case; do., seconds. J5.8306.13 per esse: Southern, ftt.1506.43 per esse, as to quality: fancy selected candled fresh esia were job bins st 27028c. per dot. LEARN TO PLAN YOUR WORK AND WORK YOUR PLAN Supervision Is Bad for Your Salary. When you know what Is to be done, you must quickly find how beat to do it. If you wait to be told hov, you Teally ra'ake another do the work. You are not worth much if your superior must lay out your work for you, step by Btep; your Job then is merely to obey instructions, and that Sort of work is of little worth to your mployer. You cannot act n the capacity of an operative and expect an titecutive'a salary. Tke Less Supervision You Require, th6 Slore You Are Worth. If your 4 production is only when your work is supervised by a higher-salaried executive, you are an expensive employe. By the true standard of busi ness, you should share your salary with such a supervisor, paying him for the time and thought he devotes to your work. When your superior must furnish the plans and the directions as well as explain what is to be done, he will be slow to recommend an increase in your salary. But when you learn to plan your work and then to work your plan( your increasing salary will show that your employer has noticed the change. De Mortr to Earn More. Your increasing efficiency will result in in creasing production ability. You will do more, you will earn more, you wjl receive more. Your interest jn your work will make you work Juurder in your employer's interest. Your employer is watching for you it? show increasing thought and energy about his business. lie will be. ouick tq pay you the extra that you earn. But live for your work rather fkn for your salary. Be confident that if you give the best that you Save! you will ba rewarded. I'aw (he "Good Enough" Standard. There is no permanent state of oerfection. Use a good method only until you develop a better one4 Nwr m satisfied. Give intelligent thought to the tools you work with. Wht tksa to the keen edge of efficiency upon the emery wheel of your vBtbition, driven by your suc-power. Be mentally alert to improve and iactrafft you aajjlayer'a badness. Strive for yoaj" employer's suc mts and he will share ts wrt with you, tr'MriBAi, jfii, i a ItmUh. fhiuidelikia, 1 IN WALL STREET WASHINGTON NEWS Pacific wcro In better demand than they was also brisk buying of Southern Pacific, New York Bond Sales 13:30 Weh. Low. P.M. $1000 Amer Cot Oil B 17 7 07 48301) Anglo-Kr 3i 03 OB 1000 Anrenllne is DtH BlW 01'4 2000 Amer Tel clt 4s ... 2U 02 :iH 40()O Amer Writ l'aper Bs 7rH 73 73 400O Armour Co 44 s . . PBt 03i 3"4 2000 Atchison Ken 4s ... B3 2$ BSK 2R0II0 13 . O cv 4 '.is .... Iir. V3'e 0M lttonu iio Bs loott lnH Iouh 1000 Dsld Loco Bs 104J4 104W 104, 1)000 Ilroott II T Be 1B1S.100H 10o( 100H U000 Can dov Bs w 1 1026 tlHH 0BH DOS 11000 do 1031 08ft OB't uftU 14000 do 1021 IMlJi WJ4 nOH 1000 Cent !ath 1st 8s ,.101 loll. 1014 1000 Cent Tac 1st 4s ... HSK N8t HH& 8O00 Cent nit N J Bs ..11TU 117 117 tOOO Ches ft Ohio 4tta.. ooS 80. DOS 1000 Chi & Nwn at Ci rs.103 103W 103$4 1000 Chi II Q Joint 4.. 08t 98i 98H 1000 Chi II It 0 re 4s..n7l4 07 ? 07ft 15000 Chi LI Q 111 3Vis.. 83H US'. 85$ 2000 C II & St 1' CV 0J..1U5S ion's lOOVe 1000 Col Industrial Bs... 73 4 754 7I.H 1000 Del ft Hud conv 4s. .lontf 1004 10I1H 100(1 Del ft Hud 4s 191 0.. 100 100 100 1001) Detroit United 4Vis. 7914 70'4 7tiH tooo DIs Secur Corn 3s.. 74H 74S 74 4100(1 Krie cv ll Sr D ir I. 84 844 8414 1000 111 Central 4s 1031.. fl7t4 7ii 07H 1000 lnterb Met,4Hs..., 71'i 72K 72H 1000 Intorb R T ret 5s... oiiH ooS onS 184000 Inter Mer Mar ct..lO()K 0f loojj looo Internl 1'aper (Is.... 102 102 102 1300 Japanese new 4Vis. 84U 831 84li B3000 Japan new O S 4tts 80 tM 10 1300 Japanese 1st 4',4s... 84i 84U HC 13000 K. C Ft S ft M 4. . . 77$ 77H 77J? 4000 I.aclia ateel Bs 1023 OOts DSti 007 0000 Jlo K. ft T 2d 4s .. 41 41 41 6000 do ext Bs 4tiVi 4H 4UVi 1001) Mo Tac 4s 40 40 40 34000 N Y C ft II Ca ...,112i 112H H2i 13000 N Y City 4a 1V3S . 00t OOK 90'i iooo jf y a n ft r na .104 101 104 ItOOO N Y X II If Os .112 112 112 1000 N Y O ft W 1st 4s . 801 80U 80V4 3000 N Y lly adj Bs .... TiBVi BBS BV 1000 N Y Tel aen 4H .. 75 75 75 2000 N Y W C ft It 4Hs. 73 75 7B 13000 Nor Pao prior 4s... 02U 02V4 nstl noo Nor Pao sen 3s.. i i. anU ni oo'I 19000 Penna n ct 4Hs,.irrn? lotfl lotj? 3000 Heading Ben 4s 113'i H3K 03 3000 Hock Inland rfd 4s. 118 H8 68 1000 Rome V ft O con Bs.lo4Vi 104H 104VJ 1000 Heaboard A I. rfd 4s 70 70 70 M)00 South Bell Bs ...... 100J1 lOOJi.lOOU 64000 Bouth Pao CV 4 871 87 87 12000 do cv 8 104 10314 104 2000 South Rwy nen 4s.. 7014 70tt 704 3000 South Rwy con 3a,.101i lOiyi 10UJ 2000 Third Ave ref 4s... 82$5 82i 82V 10O0 U S Rubber 6s 102ti 102U 102 i Bono u s steel sf fis,....104; 104i 104ft 3000 U S Oov 4s Ill 111 111 7000 Union Pac 1st 4s... 116 06 1)6 13000 Un Rwys S f 4s... 33 83 33 3000 Wabash 2d Bs 08H OSS U8i 2000 West Elec Be, 101i lOlH 101t - FOREIGN EXCHANGE NEW YOrtK. April 27. The market for foreign exchange In the first hour of busi ness today was quiet. Little feature de veloped aside from a firmer tendency In French exchange. Guilders were nom inally easier and this was true of Swiss exchange. Quotations follow: Demand sterling, 4.76 7-1G; cables, 4.77; franc cables, 5.03; checks, E.93? ; reichs marks, nominal at 74 "i 074; Vienna, 12.95013; lire cables, 6.40H ; checks, 6.41; Swiss cables. 6.1 6 H ; checks, 5.17 '.i ; Stockholm, 30.20ft30.30; pesetas, 19.60 19.65; guilders, 42Q42H; rubles, ZOKiP 30Ti. RATES FOR MONEY CslI . Time m Phlladef- New York 2 Philadelphia ......... a lloston ...- 3 XX Chlcaio .14 C4 Commercial paper. 3 to 0 months, phta, 3034 per cent. Reserve Banks Discount Rates .. iu or over 10 oer so over 60. less up to so. up to eo. up to 00. Boston . . , , . 3 New York... 3 Philadelphia,. 3 Cleveland ... 34 Richmond ,.. 4 . Atlanta ..... 34 Chlcaio ..... 34 St. Louis..., 3 Minneapolis., . Kansas City.. 34 Dallas ..." . 34 4 4 4 4 4 4 4 4 4 1" J 4 4 4 4 1 4 4 Ban Francisco 3 34 e 4 Asrlcul. Trade acceptances. Over DO. Up to CO. 60 to 80. modify, uom uoston ...... o New York . . , 6 Philadelphia.. 44 Cleveland . .. 6 Richmond , . , 5 Atlanta S Chicago ..,, 6' St. Louis..., 5 Minneapolis.. 5 Kansas City. 3 Dallas ...... . Sin FranclecA St4 i I 4 4 34 34 a 18 .3 3 34 per cent.: tip to 30 days, over 30 to 60. over ou to vv, m per cent, per cent. and over 90, EVENING (CEPOTB-PHlCADEEPfllA; THURSDAY. rAPRITJ New York Stock Sales Ltst , . 12:80 close. Illth. Low. P.m. Atuk J Gold M 0 0 9 9 AlMVaOoW Mines. ... 19M 20 WH 20! f AllW-ChlmerMfe..., 26M 28 20 20 Allll-Cbl Mfe pf 74 74 74 74 Am At Chem pf.,.,.. 97,' 97 97 97 Am Bet Sntlr 07 C8H 03 GSM Am Can 65f 60K 6SH 50 AmCar&Fdr 67 68 67 67H Am Coal rroducts....l40M 148 148 148 Am-Hide A Lesthst... OH 9U 0i OH Am Hide A I, pf 60H 51H C1H GtH Am Lin wed,. 23H 23H 2.1)4 23M Am Linseed pf. CI 6U CI 61 Am Locomotive C0! 08W 07 i C8 Am Smelt A Ref .92 P.Tf 92!( 93 Am Tel ATM ...127M 127H 127H 127M Am Tel A Cable 07H 05H 05) 05M Am Woolen...,,,,,... 45 40U 40 40 Am Woolen pf,...,,., 98M" 98M 9SH 08H Am Zinc I, A Sm 89H 91 89J4 91 Anaconda Cop M 81H 825K 82) 82)i Atch Top A 8 F, 102)i 102J 102H 102W Dald LocoWks,.,.,.,. 85M 80J 85U 80) naltAOhlo 84!i 84 84! J 84H Cslopilsj Mlnlnt Zli 2H 2H 2H Delhlchem Steal 439 437 435 437 Brooklyn Hap Tr 84 84)i 84H 84! Drown Shou 54 5414 54)4 54)4 Butte A Supetlor 9H( 03) 90H 03M Cat retroleum 21 21 21 21 Canadian Pacific 105 100)4 105)4 105)4 Central Leather..,,... 5.1 G3U 52)4 53! Ches A Ohio..,, 59 GO! 9! 00 Chile Copper 21' 21)4 21)4 21)4 Chlro Copper 52)4 63 62)4 63 Chicago Ot West pf... 33! .14)4 .14)4 34!4 Chi Mil & St P 01)4 02! 02!4 02.4 Chi Mil A St P pf,...128H 128J4 128)4 12354 Chi A Northwestern... 123 120 125! 120 Col Fuel A Iron 40)4 41J4 40)4 41! Col A South 1st pf.,.. 49 49 49 40 Consolidated aas,. ...133 133)4 133(4 133)4 Continental Can...... 83 83H 83)4 83)4 Corn Froducta net..., 19! 10! 4 19)( 10)4 Com ProdJRef pf 93)4 93 93 03 Crucible Steel 79) 81H 70) 80 Crucible Bteel pf 115)4 114)4 114)4 114)4 Cub.an.Am Suear 220 225 225 223 Detroit Edison 132 132 132 132 Detroit United Kjs... 98)4 99 OS 09 Distil Sec Corpn 48)4 49)4 49) 49)4 Krie 33X 34)4 .33J4 344 Erlo 1st pf. 49 50 50 50 Goodrich n F 75) 75S4 75 76)4 Goodrich B F pf 114)4 11414 114)4 114)4 Gtcene-Cananca 48 49V4 4354 49) Great Northern pf 119M 110! 119)4 119! IntllatvNJ HI 1UM 111) 111W lntllatv Corpn.. ,..-r. 71 72!j 72)4 72J4 Int Con Corpn pf 72!f 73 73 73 Imp Con Cop 41)4 44)4 44! 44) Int Nickel T t cfs 47U 47)4 47 47)4 IntMMcofdp 23)4 23! 22)4 23! IntM M pr c of dp.. 81)4 82)4 81!4 82 Kan City Southern.... 24)4 24)4 24)4 24)4 Kelly Spj Tire GSJ 704 70)4 70)4 Kennccott Copper 66 65J4 65 55! Lack Steel Co, , G7J4 G9 08! 09 Lee nubber Tire 60H 61! -51 611 Lehigh Valloy 76) 70! 70) 76 J Manhat Elcv gtd 129 129 129 129 Maxn ell Motors 70? 73 70)4 72) Ma Motors 1st pf.... 82 82)4 82)4 82)4 Mexican retroleum.... 04) 90! 94)4 00) Minn St P A S S M..110) 110)4 11G!4 11074 Miami Copper 37! 38 37! 375 Mo Pac tr cfs 4 4 4 4 Nat Enam A 3 Co.... 22 22 22 22 Nat Load Co 05 05) 05) 05' Nev Con Cop 17) 17)j 17)4 17)4 New York Air Brake.. 127 128 128 128 N Y N II A H fi7 -60)4 5734 50 N Y 0 A U n 101J4 102)4 101! 102!4 NYCMAStL 33 34)4 34H 34)4 N Y O A West 20)4 27 26M 20'f Norfolk AWostern.. .121)4 124)4 123!4 12J3S Northern Pacific Ill 111) 110J4 111)4 Ontario Sliver Mln.... a4 8! 8! 8.' Pacific Mall 25! 20) 20 20 Pacific Tel A Tel 33M 34 33)4 34 Pennsylvania R It G6)4 50,'f 60H 60)4 Philadelphia Co 40 40) 40 40)4 Pitts Coal Co N J.. 26) 27 26)4 27 POOAStLpf 02 92 92 92 Pressed 8 Car Co 45)4 47 40 17 Pressed S C Co pf. ... 101 100 100 100 Quicksilver. ....... -2H 3 3 Quicksilver pf 4 5 5 5 lly Steel Sp Co 35! 30) 30 3(1 J Ray Con Copper 22)4 22! 22) 22)4 Reading 82 835 82) 83 Reading 1st pf 42 42 42 42 Reading 2d Pf 45 43)4 43)4 43M Republic Iron A 8 44)4 40)e 46)4 40!4 Republic I A S pf....'.107 10754 107J4 107J4 RumelyMcfsdp 11 15) 15 151 Seaboard Air Lino pf. . 35 35) .'15) 35) Sears Roa A Co 170 1S2M 177 182)4 Shat Ariz Cop 32)4 32)4 32 32)4 South Porto R Sug.... 200 210 205 210 Southern Pacific 05 90! 95) 00! Southern Ry 19 20)4 19)4 20 Southern Ry pf 57 50)4 58)4 59)4 Standard Milling pf... S7J4 SO 80 80 StudebakerCo 12554 128 125 12S 'lenn Copper 47 47)4 4054 47)4 TeiasCo 182)4 1845J 1815 184)4 ThlrdAvenue 01M 01 01 01 Union Da: A P pf.... 31 31 31 31 Union Pacific 130)4 132)4 131 132)i Union Pacific pf 825 82) 825 825 U S Ind Alcohol 144 147 144 145 United Fruit. ..i 145)4 14554 14554 14554 United Rys Inr Co. .. 12)4 12)4 10H ID Un Rys lnv Co pf.... 25H 24)4 2354 24! U a Rubber 52 52)4 62)4 52)4 US Rubber 1st pf.... 108)4 108J4 108)4 108)1 U 8 Steel Corpn 82J 83!4 82U 83 U S Steel Corpn pf... 110)4 116' 110! 1105 USSmRAM 70!S 72) 7054 72) Utah Copper 791 80)4 80)4 b0)4 Utah Securities 10)4 17 17 17 Va-Caro Chem 38)4 3934 39) i9Ji Wabash 1354 13)4 13)4 13)4 Wabash pf A 4354 44! 43)5 44 Wabash pf B 25)4 20) 25H 20) Wells Fargo Eip 125 , 120)5 120)4 120)4 West E A M 50)2 58 505 08 West E A M 1st pf... 70 70 70 70 Western Maryland 29)4 31 30) 3054 Willy? Overland 210 225 225 225 Woolworth F W 12534 127 120 127 $100 BONDS Pet. Year. 44 lUlH Bid. 034 115 IjU U8'i DO Ask. U4V4 V54 1)14 Province ot Alberta .... Anaio-Prench .,,,,,... Argentine Uovt City of iBaltlmora .... City of Chicago liar con city of N Orleans Imp- & 11)2(1 104S 11102 6 4 4 & 1U17 lU'.l 1011 city or. Vancouver ,.. New York City res; ,,, New York city rev . , . II O-Q i Lit K 1st. Cent Vermont Ry 1st. C B Q Den Ext 44 r. 4 4 & 1U-.-3 U1'4 lUU.'l ion 1080 Kll'i ioso oh;. 1020 83 2014 10d 1118-J 1004 11)33 84"i 1035 112 1948 90 195U 71 1U48 113 1000 834 104S tilt 1050 85 1002 )SK 1U24 084 102.1 85 1021) 014 1033 103 1042 1004 1025 100 1018 101 1018 101 1910 09 1042 82 1025 08 1D30 014 1810 100i 1044 121 1S31 101 1044 1244 1051 10(1 1024 85 1043 0(14 1028 101 11)24 034 107 103 00 O 11 t St p (en rfd con C M Bt e conv loi'i 80 113i Col & South ref and ait N T Central conv deb.. NY A L, 0d (Erlel 1st a ft NY Nit U It en deb ctfs 34 NY Nil A II cv deb res u Norf A West 1st con,. 4 a A I. 1st and con.... 8 So Pac-8 V Term 1st.. 4 VIrainlan Kwy let .... 6 Am Air Chem cv deb. . B Amer Ice Bee deb S Amer T T col tr ctfs 4 Amer TAT conv 44 Uetn Steel 1st snd rfd B Cent Leather 1st res . S Cities rJerv conx notes 7 Comw I Ry Lt con Denv flae A Kite 1st., S Oen Electric deb 34 Ot West Pan conv deb 6 Lacks. Bteel 1st con . , B Laclede Qaa 1st S Llnett A Myera deb rec 7 Liggett A Myers deb rer s P Ldrlllard deb res ... 7 P LorUlard deb rec ... 6 Pierce Oil cenv deb.... 0 llont Power 1st and rfd B N X Air II 1st conv..,. a Wis Kdlson conv deb. . 114 t4U loo'I 864 03 10(1 101i 1014 102 103 10U, 00i 034 123 1284 101 8114 0JI 103 CHARLES DANA GIBSON'S DAUGHTER TO AYED TODAY Miss Irene L. Gibson Will Become Bride of G. B. Post, jt. NEW YORK, April 27 Miss Irene I Gibson, daughter of Mr and Un. Charles Dans. Gibson and Qeorsa B. Post, Jr.. will be married Jn St. Bartholomew's Church here today. A reception at tho home of the bride's parent a, it? East lid street, will follow. Miss Gibson chose her cousin. Miss Nancy Perkins, to be her maid of honor, and the other-attendants will Include the Misses Harriet A. Post, Nathalie Wood. Helen Crocker, Evelyn Preston, Ruth Hap- gooa ana jasrgoi bcuii, ptew xorK society buds. Mr. Post selected Chalmers Wood, Jr., as his best man. His ushers will be his cousin, Bayard, Tuckerraan, Jr.. J, A. Shaw McKean, both of Boston; Thomas 11. FreHslnshaui, C. Suydam Cutting-. Grafton H. Pyne, Schuyler I Parsons, lr nichard Van Nest Gambrill. Oliver W. Bird, Jr.. and JSanghorne Olbn. all of this oitjr. and C Dawson Coleman, of phOadVlpbla, faiishrru Gibson U Aon el Cbarlta Dana GlLstiu, WHEAT PRICES START LOW, BUT SOON RISE Longs Are Inclined to Liqui date, but Offerings Are Quickly Absorbed KNOI.ISH BANK STATEMENT. LONDON. April 47. The nrrklr state ment of the Itnnk of Knslsnd rollownt Tutsi rewrre t4S.27O.O0O, Inrrenee mi, 000 1 tlrtntntion 31,103,000, Inrrtnoe f-U.-OOOi bnlllon 158.924,000. Inrrens f900. OOOi ether xtenrltles CM.ROB.OOO, Inrresee CIlD.OOOj other depnulte 85,471.000, de train 1,174,000) public rieiMMI" AI, 7tZ,000, Incrmpe 2,543.0001 (lorernment neenrltlfs 33,18K.OOO, unrhsnred. The Kreporllon of tho bunk's reeerte to lla IIIMm Is now Z0.40 per cent., nrnlrnt 20.10 per rent, it week, nnd rompnres nllh n rietlln from 18V4 lo.nTh In this week Inst reor. Tho elenrlnss thronsh tho Iindon Imnki for the week were't7H, 460.000. nnnln.f 208,000,000 last week, snd 240,080,000 lt rear. CIIICAaO, April 27. The tone1 at the wheat market In the early dealings today was Irregular. Scattered buying nt the start made It firm, but longs were Inclined to liquidate, and prices dropped below last night's close. The offerings were quickly absorbed, however, nnd tho loss was regained. May opened nt 1.14 to $1,144. 'nnd after falling to $1.13T4. rose to 1.14H. compared with $1.14 H nt the end yester day; July started nt $1.1BW to $1.1BH. and after dropping to $1.14i recovered to $1.164, yesterday's last price! Sep tember opened nt $1.1BU to $1.161,4, and after receding to $1.144 moved up to $1.14"4, or Uc nbove yesterday's closing quotation, Weather conditions In the Northwest were slightly more favorable, but tempera tures In that section continued too low. Tho market nt Liverpool was dull but steadier, holped by the rise on this side yesterday and expectations of smaller shipments from Argentina. There was a lack of demand there, however, and the Inquiry from tho continent was Indifferent. The oiriclal French crop report recently Issued, placing the' condition nt 87 per cent, has been corrected to read 69 per cent. The receipts nt Minneapolis and Duluth today were 174 cars against 262 cars a. yenr ogo; nt Chicago 69 cars, compared with 78 cars; nt Winnipeg 423 cars com pared with 110 cars. Corn was quito nnd steady on sales of about 800,000 bushels for export in the past 24 hours. There wcro rumors that tho Dutch Government was in the market. Dealings nt Liverpool were small. Tho receipts hero today were 130 cars, Oats opened a little easier. The receipts hero today were 1C3 cars. A good demand for oats for export was reported from Argentina. PHILADELPHIA MARKETS PROVISIONS The market ruled firm with a fair Jobbing demand. Kollowlnc aro the quotations: City hef. In sets, smoked nnd alr-drled, SBc; Western beof. In sets, smoked. 2(lc. ; city beef, knuckles nnd tendeis, smoked and alr.drled, 2Twi!Sc j Western beef, knuckles nnd tenders, smoked, 27UKc. ; beef hams, 2HP30; pork, family. IHS.fiOOSfl; hams, S P. cujrwl. loose, 174 18c: do . skinned, looso. 17H l8c. ; do., do., smoked, lSHUMOc. : other hams, smoked. city cured, as to brand andaerAve. IHfHHttc.; hams, smoked. Western cured, lHQPlS'rtiC.i do., boiled, bonolees. 30c: picnic shoulders, H. P. cured, loose. Ill tic: do., smoked. 13!. (313 40 bellies. In pickle, according to average, loose. I.1!i(310c: breakfast bacon, as to brand and average, city cured. 10c; do.. Western cured, l'dfl&c: lard, Western renned, tierces. 13c; do., do., tubs. 13c; do., pure city, kettle ren dered. In tierces. 13c: do., do., lo tubs, 13c. REFINED SUGARS The market was quiet but firm. Quotations: Extra Ann granulated. 7.407.50c; powdered. 7 n()827.(10c: confectioners' A, 7.307.40c; soft grades. fl.05$?7.3uc. DAIRY PRODUCTS CHEHSK Trnd was fair nnd tho market ruled firm under light offerings. Quota tions: New York, full cream, fancy, held. IDgHO'lc; specials higher; do., do,, fair to cood. held. lbu18Hc ; do., do., part skims, 114P18C POULTRY LIVE Choice stock wss In fair request and steady under moderate offerings Quotations. Fowls, 10020c: roosters, 12018c: spring chickens, according to duality, weighing 1-' lbs. apiece. .14038c: ducks, as U size and quality. lH:'Uc. ; geese, 17010c: some un Attractive stock lower; pigeons, old per pair. 28030c; do., young, per pair. 2O022g, FRESH FRUITS Cliolco stock was In fair request and gen erally steady under moderntn offerings Quo tations: Apples, per bbl., Wlneaap, $304; do., do.: llaldwln. I2.CO0.1.25; do., do.. Greening. 12.2603; do., do.. Hen Davis. t. 7.102.23: do., do., other artetles. l.no02.CO; do., do., No. 2. I1.2SO1.B0; do.. Western, per bog. I1.2SW1.75. Oranges. Florida, per cratp. J2.H06-. Tangerines, Florida, per strap. 20 3.3(1. Grapefruit, Florida, per crate, tl.730 3, BO. lemons, per box, 1203. Pineapples, per crate, Porto Illco, 2.r,o03,SO, Cranber ries, Jersey, per bbl.. 1307; do., do., per crate. tt.2S02.25. Strawberries, Southern, per qt., 12020c VEGETABLES The general market waa quiet And without Important change. Quotations; White potatoes, per bush. Pennsylvania. SI 1S01.2O; New Vork. 11.0501.10; Western, 11.0301.10: white potatoes, Jersey, per basket No. 1 nose, 05075c. : No. 1 other varieties. OStiflTr.,.. ! Vn 8O04Oc: white potatoes. Tlorlda, per bbl. ' .o. x, (w(.iu; o. -. ;iivn 7a; sweet pota toes, Jersey, per basket No. 1. 450110c ; No. 2, 25030c,; sweet potatoes, Jersev, Del 2!Tar?..aml. Maryland, per hamper No. I. 750.011; No. 2. 5O0t!(ic; sweet potatoes, X!SB.l?i lr bbl.. II.RO01.7B; onions, per 100-lb. bag, 1101.73: onions. Texas, per cum mer crate No. 1. 11.0301.75; No. 2. SI. 150 1.40: cabbage. Danish, per ton. S1301O; do.. South Carolina, per crate, S2.SO02.73: celery. Worlds, Perorate. SI 7502.23; spinach. Nor ftik' 5rB?,'" c,0S1.2.-.; kale, Norfolk, per t?,;n.i?.?50c,-:..wa,M5,'e''".' ,r 100 bunches. SI.5O02.SO: lettuce. South Carolina, per basl S-S'sn..?8!80' d0-i.,JS'!,;,n Carolina, per basket. J2.BO04; beans. Florida, per basket, S203.6O: It"."; Fior,Ja ani South Carolina, per basket. S1.2308: peppers, Florida, per barrier. S20 8.50; eggplant. Florida, per crate. S2.2302.75: tomatoes, Florida, per carrier fanci-r SI. 750' -; cnoice, ii.2301.5O; asparagus, per crate Houth Carolina. S2.60&4; Georgia.' S2.2508.ao! California. $204; mushrooms, per 4-lb. basket. S1V1.-B. GOVERNMENT BONDS Hid. Asked, ' 100'i 2s registered 1030 2s coupon 1930 3s registered 1018 3s coupon 1018 3s registered 1023 Is coupon 1V2B Panama 2s registered 10JH Panama 2s registered 1038 Panama 3s registered 1801 Panama 3s coupon .lot .101 102', .un, . 90'i ,102 .loss DIVIDENDS FBAMU.1N NAT10NAI, HANK Philadelphia. April 24, 101S The Directors have this day declared a semi annual dividend of ten 110) per mm,. WI of tar payable May 1, 101B. to stockholders of record at the close of business April 29. and also added 1250,000 to the surplus, maklnr that fund now J3.250.000 ""'Vius, mamns Checks will b mailed. J. WM. HARDT. Cashier. COMMERCIAL, TRUST COMPANY Commercial Trust liulldlng. Philadelphia, April 27, 1018. At a meeting of the Hoard of Directors, held this day, a quarterly dividend of four (4) per rent, was declared upon the capital stock of the company, payable on May 1, 1014, ta shareholders of record on the 28th Instant. Checks will be mailed. II. W, BTKHFEST. Treasurer, THE MARKET STREET NATIONAL BANK Philadelphia. April 23. 1016 capital ti.000.000. sirpLus si.2oo.6oo The Directors baie this day declared a semi annual dividend of four (4) per cent., fres of lax. payable Mojr 1st. J91B. to stockholders of record at the close of business April S7tu! Checks will b mailed. ' WJI. P. 81NNETT. Cashier. THE aiBABU hATlOltAl. llAMi s'u.iAJv.yui ..tl, 40. IBIS. The Dlrsctora hv ttiu d declared a dividend of elibt per tent. ttH.I, Oh of tax. paysbls May I. 1918, to stockholders of record at the close of business April 24. 114. Checks will bs mailed. CuhUr. THE nilXADHXI'IIIA NATIONAL DANK PblUdelohla. April 28. lais" Tlis directors have thU day declared a dividend of eight per en. Sl for the last six months, free of tax. payabls May I, to stockholders of record at the. close of business April 29. l9)ft- Checks will be mailed. ,,1,1. iiriB. wit, u lulieu. HORACE FORTESCOB. Cashier. THE KIXTIt NATIONAI. IlAVir r" PblUdelohla. April 23. 1916. The Directors have this Lur declared a semi annual dividend of fire per cent., payable May lt. 1014. to stockholders of record at eloi. or "business April 25th. 1910. Checks will bs mailed. WILLIAM SALTER. Caahler. TJIHECTOBY OF ACCODKTANT9 CertUUJ I'ublls AtcoaoUnt uLvmeucs s. drown co. Sales in Philadelphia 12-30 , P.M. 48 Net ehse. 1.1 tlltl t - . ! Low, 48.. 52 H is SOO 100 600 B .J 1020 36 80 20 280 in 10 120 10 B 1200 soo rturr A 5ts tittK Chlno Cop. . . B2 Eleo Storage.. 58; Krie ........ 34 B2 ARV4 84H :i Jh 'li! 88'. 87 'i 227., 83 K 104 03 U itarr 11 war, , .1 Ins Co N Am 25H l.ako Snp Cor OH illnehllK . ... B7 Nor Central . 87 ,, Nev Cons ... 1714 rennn. nail ...B6t ra 8aft Mfe.loo Phi a Co ... 40U Phlia Eleo .. 27 M Reading .,.,, 84 V O I ...... 87H Un Cos ft j.227 V H Steel..., 83H War Ir It St.. 10H ill! $1 ir 100 n -. ha 227., 83H 104 03 U 1 1 1 West Coal 03 1 BONDS. 12:30.. Net . . Hlti law. P.M. chge. 2ooo ki ft rea T 4s 70 102S 102$ 10J H 02(1 H2(t. njH nuou u v cna ('js.i 1000 rid sen 4s.. .50 Nat P Co 4-fla 70 70 70 H000 Stan 0B (Is. 102 102 102 2000 Un Ry Inr Os 71 71 71 Financial Briefs Tho Muskogee Refining Company re ports earnings ot $61,785 for the first quarter ended March 31. The company has recently bought several producing properties, Including the cloven Sands OH Company, the earnings from which will not be shown until the second quarter. Now York banks lost to the Subtreas ury yesterday $428,000 nnd since .Friday 18,309,000, Directors ot the Greene-Cananea Cop per Company will meet this afternoon In New York to declare the quarterly dividend on tho stock. Tho ?l dividend, nnnounced by tho Crecne-Consolldaterl Company, the operating concern, on Tues day assures a distribution of $2 for the quarter to the Greene-Cnnanca stock holders. The output of gold In nhodcsla, South Africa, during March amounted to 80,205 line ounces valued at 335,368. The Northern Mississippi River rower Company lias given notice to holders of the first mortgage G per cent, gold bonds that tho bonds will be paid off nnd re deemed on Juno 1 next nt 102 ',4 and In terest. The bonds should bo presented at the office of the Continental nnd Commer cial Trust and Savings Bank of Chicago on tho date mentioned. After that' date Interest will cease on the bonds, The bonrd of representatives of tho New York Curb Mnrket Association has listed and ndmltted to quotation the 300,000 capital shares of the La Porte Lumber and Mining Company of a par valuo of (5 as a prospect: 500,000 capital shares of the Unity Gold Mines Company ot a par value of $5, and 1.000,000 shares of Vncuum OH and Gas Company, Ltd,, of a par value of $1 as a prospect. The New York Dock Company had gross earnings during March ot $260,868, an Increase of $47,872 over the correspond ing month last year. Net carnlngswero $121,891, nn Increase of $16,464. NEW YORK CURB Rid. Asked: Aetna Explosives 18J4 IB Am Int Co 20i 2t Airerlcan Marconi .3,, .jJH llrltlnh-Amertcan Tobacco 14' lnis Cer De Pasco 37 38 Chevrolet 187 1811 Curtlas Aeroplane 42 47 Cuba. Cane Bugar OoU 01 do pref 4H 04"4 Hendeo Mfg 20 20 Lehigh Valley Coal Sales J3 88 Magma Cop "Jj 174 Mldvnle BjS fi",. Nlnlsslng 7t 7s Otis Elevator OlVt J do .Pref j' ys Petrlesn -1 .3 Penn Mar Ord 0 Illker-IIcgemnn J n Kterllng aum 1 .lis Hubmarln 3 J 8,, Tobacco Products 4f 42U World Film 1 lis vhltn Motors 48 49 Yukon Gold 2 2W RAILROAD EARNINGS WABASH RAILWAY. 1010. Increase. March gross S3.083,110 S720.828 Net ..?.. 1.020,102 010.037 Nino months' gross.. 2S.3n,2l 8,001.220 Net 8.008.500 8,010.180 QEOROIA SOUTHERN AND FLORIDA. Third week April .... S4B.033 4.?28 From July 1.. 2,000,051 160.454 VIRGINIA AND SOUTHWESTERN. Third week April .... S86.7R8 '''2?3 From July 1 1,583,882 09,045 CINCINNATI, NEW ORLEANS AND TEXAS PACIFIC. Third week April . . 231,031 53,831 From July 1 8,797.404 1.237.005 ALABAMA GREAT SOUTHERN. Third week April . .' 104. C04 From July 1 4,403,221 80UTHERN RAILWAY. Third week April . . 1,417.1140 From July 1 R0.100.30H MOBILE AND OHIO. Third week April . . 212.077 From July 1 9.873,770 676,207 18,030 213,760 5.188,127 22,582 525,577 LIVE STOCK QUOTATIONS CHICAGO, April 27. Receipts, 24.000. Markets, strong. Mixed and butchers, SO. 50 (410: good heavy. Su.75U.U3; rough heavy. 0.50U,70: light. SO.4O0U.U5; pigs, 18.101$ 0.31: bulk. S0.80fl0.05. CATTLE Receipts, 3000. Market, weak. Beeves, 37.00(11,851 cows and heifers. S3.5.1W 0.10; stockers and feeders. JO. 00(38, 50: Texans. 17, .10 80: calves. S7.5OS0.25. SHEEP Receipts, 0000. Market, steady. Native and Western, X0.lBSD.23i lambs, SO, 10 & 11.BO. BUILDING OWNERS Yon can sate money obm lmllilliir hv havlnr mejearran builder's bond. With ten yews' ex perience I ran render REAL SERVICE HARRIS J Pennsylvania Bldg, ON or t new ke the '' ex- :E-y I ' , i - Fidelity Trust Company N.EXor.Broad&Chestnnt Sts. 27, IQtff. HEAVY INCREASE IN OPERATING EXPENSES CUTS B. & 0. EARNINGS Gross Increased $1,916,879. in March, While Net $ell $436,199 Lee Rubber and Tire Directors Declare Initial Dividend 'This Afternpon The Baltimore and Ohio Railroad made a Rood showing- In gross earnings In March, figures for' which came-out today, but Ihe net results for the month wero smaller than the same month of the pre vious year, due to a larno Increase In operating; expenses. Tho gross earnings for March reached a total of $9,249,711, nn increase of '$1,918,879. The fotal operat ing expenses were $7,082,167, an expan sion of $2,353,078 over March of last year. This heavy Increase was largely In the maintenance of equipment, that Item totaling $2,136,113, Increase $1,081,619. The net earnings were $2,187,544, decreaso $436,199. For the first nine months of tho com pany's fiscal year tho gross earnings nmounted to $82,079,479, Increano $14. 632,893 ! total operating expenses $57, 704,418, Increase $9,292,497; net $24,376, 061, increase $5,340,396. The directors of the Lee nubber nnd Tire Company meet In Now York this afternoon. An initial dividend will bo declared on the company's stock, as was stated In this column some time ngo. While forecasts of tho possible amount of the dividend have been ranging from BOI LONDON STOCK MAIIKET Trading Is Small Labor Trouble Af- fects American Department LONDON. Ain-I! 27. On tHo whole, se curities on (lie Sock Exchange displayed steadiness todny, although trading con tinued on a small scale. Tho gilt-edged section moved upward, reflecting a fresh rise in TJutch exchange, owing to the preparations at Amsterdam to pay for 7,000,000 British Treasury bills recently purchased. Labor troubles and uncertainty over tho diplomatic situation Avere responsible for Irregularity In tho American depart ment, which was lower In the main. Home railway shares wero not nctlve and Canadians wero dull. South American rails wero sustained. An Interim dividend of 2 per cent, on the stock of the United Hallways of Havana caused firmness In that Issue. Russian securities nnd tho French loan hold well, following Paris. Russian com mercial bills nre being placed hero In larger amounts nt current rates. A setback In the staple affected rubber shares, and mines and oils wcro dull. Loridon 12:30 .. 103i .. 1TBJ4 .. 01 n5ir . . 34"i .. HI .. 104 N.T. equlv. 101H J Atchison Canadian Pacific ..... Chesapeake & Ohio . Ht Paul Brie do 1st pref Illinois Central I,oulsllle & Nashville N Y Central Pennsylvania Heading Southern Pacific Union Paclflo U S Steel 1UUJ4 B8U 0i 33 48H 004 123 100'4 fiK HI 04 laou 8114 . . 120 . . IDS' .. OTJ . . HSi nn i" IK 1 1 8 .. 1301 . . S5! DIVIDENDS DECLARED New Jersey Zlno Company, regular Quarterly of 4 per cent, and an extra of B per rent,, both payable Hay 10 to stock of record April 28. Pressed Steel Car Company, resular quar terly of li per cent, on preferred stock, pay able Slay 24 to stock of record Slay 3. . I.lztrett & Myers Tobacco Company, regular quarterly of 8 per cent, on common stock, pay able June 1 to stock of record May IS. Commercial Trust Company, regular quar terly of 4 per cent,, payable Slay 1 to stock of record April 20. Detroit United Railway Company, quarterly of 14 per cent., payable June 1 to holders of record Slay 16, The last previous disburse ment was IU per cent, on March 1. A 6 NOTE Maturing In three years Large property Talus Good earning record PRICE TO YIELD OVER, Circular furnished upon req MELLOR & PE SItmbers N, Y. & I'hlla. fllock Kxrhanges 336 COMMERCIAL TKl'ST IIUILHINO I h1 Barnett Oil & Gas Ob. UOVailT-SOLD qUOTF V lFrlte for special circular ,V. . E. H. CLARIES Inrestment 8eeurltleiT William St. New Vork Cltr H Beefch Creek Railrq?yl ss9 1st 4 Bonds S m H Due 1936 "jm ) fl Price on Application, t .frwwww ,rvffsTffy yes-4trwi x a a ... fW 9 wr ' F t f About JUNE 1st, 1916 Will Open an Uptown IS cents to 11 n a share. It Is considered al most certain that the disbursement will be 75 cents, or at the rata of $3 per nn num. There was very little to discuss In the dealings on the Philadelphia Stock Ex change today. While somo stocks ad vanced, the majority of them showed slight losses or sold unchanged from the close of yestet-day, "" Greatest activity was centred In a few of the arbitrage issues, the most-prominent being Pennsylvania Railroad and United States Steel common, although the former had a shade the better. There was a loss of 3 18 In the price of Elcctrla nnd People's 4s, which sold at 79 !4, , A sale of one block of 1000 shares of Lake Superior at 9, shortly after the opening of the market, was thought to be for foreign account. This price was U under the last sale price. It Is known that there Is a considerable amount of foreign-owned stock of this company In the hands ot brokers in this city awaiting sale, the total amount being estimated nt roundly 60, COO shares. The majority of this Is for sale at a scale Upward. NEW YORK COFFEE MARKET NEW YORK, April 27. The coffee mar ket opened firm at 4 to 6 points higher on scattered buying by commission houses, owing to the continued strength in Bra zil. Sales on tho call .were E750 bags. Today's Yesterday's opening. clot. March 8.07420.70 fl,008.68 April 8.2AIM.28 Slay 8.32 8.27MB. 28 Tuns 8.SI 08.32 July 8,40 8.89W8.83 August "8.42 H.40WB.41 September ,.., .... K.4508.4B October '8.30 8.48O8.B0 November 8. Ill OR. 08 December KM R. B.I 8. 57 January ,...'8,00 S.RBGrR.Ol February -8.03 8. 0808.63 Bid. Total sales, 0000 bafts. BANK CLEARINGS iianic clearings today compared with corre sponding day Inst two years: 1010. lots. 1014. Phllada. ,.137,380,482 123.027,743 127,107,141 with ELKINS, MORRIS & CO. BANKERS Land Title Building " Phlladolphii American Ice Real Estate 1st 6s, August, 1942 Scranton Electric Co. 1st Ref. 5s, July, 1937 . Pcnna. Water & Power Co. 1st 5s, January, 1940 Particulars on Request Chevrolet Motor Company Slock The Company's present schedule calls for an output of 96r482 cars lnji 1916, nnd to dato this schedule hsra been easily maintained. With ithls production, the company should earn over 8,000,000 In 1916, or about j 40 a share on the stock. Alreadytjjflers are being .received from aceQjg for 1917 deliveries, and lilVncIsfry they call for larger allotments than 1916. . It Is estimated that 160,000 cars will be needed to supply next year's 'de mand, and on this output the com pany should earn close to $70, a share In 1917. Circular on request. . K. Rice, Jr. & Co. Phones 4001 to 4010 John. 30 Wall St.. N, T,, jmr IN MORTGAGES 4- AT R A oi Ml Uifo Hecoramended by BEN T. WELCH 132B Chestnut St. Office s Vo ' :4 Vl 111 ' H t! j : v.- .i . r i ' M -i ; r -V : SS 1 i 'J i' vt, Jf i nt ' ' a v Jk '"" ' 3 !-4