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- fin jnnwii.ir .n.i
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FTNANf!TAT. NP1WS '
" " - i i
EVENING LEDGES-PHILADELPHIA, MONDAY, MAY 1, 1910.
.WALL STREET BELIEVES GERMANY
WILL ADJUST DIFFERENCES
Marine Common and Preferred Advance to New High
,. Marks on Continued Accumulation Larger Div-
idend for American Smelting Talked Of
New York Stock Sales
,. ktelo.
Advance numety. .... 21
.Advanco Humcly pf. . , 42)$
Alaska J Gold Mlnci. . 0
Alaska Gold Mines..., 20!f
High Points in Today's Financial News
Denver and Salt Lake Railroad Company did not pay semiannual
interest on first mortgage S per cent, notes due today. Ann Arbor Railroad
Company paid off its 6 per cenU notes. Motion filed in United States
Court in Baltimore by Government ordering dissolution of American Can
Company, Annual report of Pennsylvania Steel Company for year end
ing December SI, 1915, showed earnings 8 1-2 times as large, as the
previous year, being $1,791,921, compared with $l,.U0,0i9. Price of bar
stiver lower in New York and London, Loans of Philadelphia banks in
creased $1,081,000 in iveek. Surplus fell $2,322,000.
27H
78
mi
50X
00
63
on
61.
28H
i NEW YORK, Mny 1.
Tho now week started with tho speculative clement extremely confident thnt
diplomatic differences between this country nnd Germany will be cleared away
with the receipt of the German nnawer to tho submarine note. It hat been
proved on many occasions that Intimations of the German attitude, which worn
accompanied by vteorous market movemen's, have In nil cases been confirmed
by official documents.
Labor differences have lost their force ns a disturbing factor becauso of tho
positive statements made In Important quarters flint tho companies will either
compromise or ngteo to tho clcirfands and thnt no Interruption to Industrial activity
or to transportation will exist.
Upward movements have for some days past caused pronounced uneasiness
In bear ranks nnd the situation has become Intensified by the known nccumula
tlons of Buch stocks ns Marino preferred and Ualdwln Locomotive, In which prob
ably tho larscst short nccounts exist. Today's advance of nearly 8 points In
Marino preferred, while- primarily based on knowledge that harmony had been
established between tho vnrlous committees, was made more vlRorous by anxious
covering of shorts. As vnrlous units on the upturn were passed, many orders
were reached, reportlnp tho closing out of somo Important short accounts.
Thero was somo talk about the possibility of the stock boIiiR cornel cd In tho
progress of accumulation for control. This had no reference to any organized
squeeze, but simply brought forward tho possibility that tho shorts might corner
themselves In their urgent efforts to cover. Thero is Ilttlo doubt If tho situation
becamo ono of tension that tho Interest concerned In acquiring control will allow
shorts to cover on the usual basis. Tho common stock followed the preferred on
tho advance, both stocks selling nt now high records.
Baldwin Locomotive Indicated what may como In that stock by advancing
xiu.u 00 10 yK, on 1110 covering or ono largo short account. Prospects of tho
maintenance of peacoful conditions on the Mexican coast helped make Mexican
Petrcleum strong, thnt stock ndvancing to 100.
American Smelting was bought by ,the Guggenheim Interests and the bollof
provalls that tho dividend on that stock'wlll be Increased at the directors' meet
ing now closo at hand.
In tho Into afternoon recessions were in order, especially in tho stocks which
had mado tho greatest gains during tho preceding part of the day.
Denver and Salt Lake R. R. Not Payinjr Bond Interest
NEW YORK, May 1. The semiannual Interest due today on the first mort
gage 5 per. cent, bonds of the Denver and Salt Lake Railroad Company is not
being paid. It Is expected that shortly a commlttco representing largo bond
holders will call for the deposit of tho bonds under a proposed plan of readjust
ment. The DcnvV and Salt Lake Railroad Company Is tho successor of tho
Denver, Northwestern nnd Taclflc Railway Company and took over tho prop
erties of that company in the fall of 1912. it is understood tho earnings have
been equivalent to the fixed charges, but that the company has not been nblo to
cam .tho money to meet this obligation and also to provide funds for Improve
ments and additional facilities needed.
AllU-Chalmcn Mfe
AllU-OMfe pf ,...,
Am licet Sugar
Art Can
Am Car & Fdy
Am Car A Fdy pf,.,
Am Cotton Oil., .
Am Hide & Leather
Am Hide A I. pf.. ,
Am lco Securities. . .
Am Linseed 24!f
Am Unseed pf .,,..,, filH
Am Locomotive. ,,...! 73J
Am Malt Corpn pf. .., 34
Am Smell ft Hot f)7J
.im nicci foundries, . . .ii
m sugar uenning.
Am Sugar lief pf .
Am Tel A Tel . .
Am Tobacco . .
Am Woolen . . ..
Am Writing V pf
Hlnh.
21H
42
OH
20U
28
78
70H
03
Low. Close,
llOtf 117
61
OH
62
29
24U
o2H
74! i
.31
09)1!
AM
-i-i -to !;;
I09f 111 109 W took
IWi 115H 116H 116M
..128 128'f 127JJ 127!
. 198'f 2O0H 200 2U0H
. 4oH Aoii 4fi5 AMi
1IW llljf 10 It)
20
42
OH
2051
27
78
COM
67H
CO
110
ma
OH
62
28H
23Ji
61
72H
34
00H
48
21
42
OH
20H
27H
78
70
67H
om
117
rax
O.'l
62
28'
23J
MH
72H
31
no
I9H
VIGOROUS BUYING
MAKES PRICES, JUMP
Demand From Important
Sources Causes New High
Records in Curb Issues
NEW YORK, Mny 1. All restraint wns
apparently removed from the bull sldo
of the trndlng In tho Curb market today.
There wns vigorous buying, coming chiefly
from Important sources, In mnny Btocks,
forcing prices of a number of Issues to
now high records.
Among these wore Chevrolet Motor,
which moved up 8 points to 202 with tho
movement accompnnled by renewed re
ports of a merger With General Motors.
Atlantic Gulf and West Indies also mndo
a new high record, selling nt 37, nnd new
high records wcro mndo In tho two classes
of Mnrlno stocks, which followed tho lend
of the upward movement In tho reorgan
ization certificates of the Stock Kxchango.
Thn mtlnttlnn etnoLro . Mt.lnH
Anaconda CoVvt -'?! sail 2?B S?8 "eI,cl1 l,y ,h? knowledge of Important new
J!i nS SS.i 22M . .'? """tracts, with Mnxlm Munitions moving
COLD WAVE IN COTTON KELT
CAUSES ADVANCE IN PRICES
All Futures Riso Except May, Which
Remains Unchanged
NEW YORK, May 1. Unseasonably
cold weather In Texas, with tho barom
eter Indicating that the cold wave, prob
ably preceded by rain, will movo In a
southeasterly direction through the cotton
belt, was tho only factor nt tho opening
on the Cotton Exchange this morning,
and caused a steady tone with advances
of 1 to 3 points, with tho exception of
May, which was unchanged.
Tha market continued steady during the
middle of tho morning. The low tem
peratures In the Southwest, with predic
tions for frosts tonight in parts of Texas
and Oklahoma and cold rains seemed to
attract a good deal of attention. The
strength In the stock market was also a
factor and there was considerable Wall
street buying, while Liverpool and New
Orleans were fair buyers oa the advance
which carried prices about 8 to 9 points
net higher or into now high ground for
the movement October contracts sold at
12.34 or within 4 points of the best level
reached pn the recovery of last March.
The weather map showed low temnera
tures In Texas, with heavy rains at some
stations. Fort Worth reporting nearly two
Inches. Just north of the belt there were
heavy to killing frosts.
Tha receipts of cotton at tho ports for
the day were estimated at 10,000 bales,
compared with 15,615 bales last week,
17,244 bales last year and 9703 bales In
1914.
Mrch ,
May ..
July ..
October
December
January
Spot ..,
Liverpool Cotton
LIVERPOOL, May 1. A fair business
was transacted In jjpot cotton today at
unchanged prices on the basis of 7.9Sd,
for mid-uplands. The sales wore 8Q00
bales. Including 7000 bales American.
The Imports were 2000 bales, American
none. The market for futures closed
steady at a net advance of 77H points.
New York Bond Sales
,noo Amer Am deb lis. . ."tffi'
"75 ' ' Aiwlo-French Ba.... ,-,?
,!! ! 'mor Smelt Sec Us.. 11:!
1000 Amer Tel clt la... ir"i
2011(10 !lu cvt 4t,. ..." 111?
Jiioo Armour Co -tUa.... 113H
lyu'i'l Atchl.on sen 7a.. iK
o cv 4s llillo hi-):
lllllll llo CV (is 11117 1U1U
IJliiiil Bait & Ohio Va.. Ill ii
.(HI do fla 1 tiuii
1!!!!!! n!h ei ,st -... i"
Jiliin do rM Sa lnli
, !!! i rno,k I1"" Tr "' "lH-HMHi
HO I rook L'n Elv 1st Oa.101
VX JiR, u.mi a" 't .".B..KNIJ,
nil II L'lll IHR X' Van -.a liu
4?V.U" Uon Cov Sa w I "-a. list
mu ..3 1 iu.li,,, mi
3U001I
ukj;
iihs
UsK
HI1J4
11J
Sat. cloae. Open, High. Low, Close.
,... 12.01 12.114 12.77 12.B3 12.7T
... 11.110 11,08 12.15 12.08 12.13
... 12.13 12.12 12.311 12.12 12.30
... 12.25 12.28 12.411 12.27 12.4(1
r .. 12.41 12,44 12.57 12.44 12.57
... 12.4H 12.60 12.(13 12.40 12.H3
... 12.20 , 12.3U
FOREIGN EXCHANGE
NEW YORK. May 1. In the first hour
exchange was very dull. The features In.
eluded strength In Italian exchange, flrni
of business today the market for foreign
ness in relchsmarks and a slight shading
In sterling. French exchange ruled
steady. Quotations;
Demand, sterling, 4.76 5-16; cables,
4.7615-16; franc7 cables, 5.93 H; checks.
5.93; relchsmarks, 75 75.H: lire, cables,
0.23: checks, 6.21; Swiss, cables, 5.17U ;
checks, 5.18; Vienna, 15.1013.15;
pesetas, 19.65019.70; guilders, 42 &
42 1-16; rubles. 30i 030ft.
In the early afternoon the market was
featured by a further shading In sterling
to 4.7&U for demand and 4.76 Ti for ca
bles, while Stockholm advanced to 30.30
030.40, and francs Improved to 5.92 li
for cables and 6.93 tor checks. Relchs
marks, after being quoted at 76',i76,
receded to 79U76ii. Business was
quiet.
New York ..
VbiladelpbU
Hotoo
vnjc&sro
VbU,
RATES FOR MONEY
Call.
::J?::;i 8Itt
. ..-3H04
Commercial vaner 3 to tt moatha.
3 Van per cent-
Time,
fhlladel-
Reserve Banks' Discount Rates
lead
tat gveriu mtrau over tso
leaa. us to an. up to (Hi. us to u.
IKHton o
Mevr Yorl.
1'WlaOelpbt.
flvtUr-d . . .
tUcluaajul . .
Atlanta" . . . .
CUao , . . .
8. lul,...
MianfailU..
KM.nm. UUy.
Wu- ...... .
Aaa f rtuxdsco 3
S
3
l"
P
8H
54
4
u
4
a
4
4
4
4
J
4
4
4
i
4
4
4
4
4H
18
nAAffiB
Nw losjt,.
PbBaa4JUi
Viissa ,.
4&
Asrlcul- Trs.de acceptance). Com-
urer v. up iq ou. &c ko u; guHJ.
79 27 "'
5 sa as .
107 i JU7'i
!? l'Uk
7.1 K
711
1 Cent Leather lat Sa.lOl't
20(10 Cent U It N J 5a 1171?
r.ooo chi & Alton a Wb 47
.50110 Chi Eaal 111 la!. 7U
1J.1!!!!! Ch! H t Q. Joint 4a IISV4
10(MI do sen 4a 1)2 i,
7 10(1 f!hl m . m, n .jl ,'
Kiooo iin or .-;. ,;?
1000 ilo CV Mia" '.
1 llll Ml fnl In.l -.. -
2-jOo l? Hecur Corp 5a.. 77
,"0 ' conv 4 tier A 7(1
1000 Krle I'a col 4s MiU
3W do cv Ser D i '','
7U0U Gen Kleo Ueb Ba....l03
10(1(1 lluil . Man In 5a.. 2s
211(10 Indiana Steel 5a lilt'4
1S1KKI Interb Met m... 7.1(2
n.5!!H Jn'rb K T ref 0a.. lili
01510(1 Inter Mer Mar ct..l(U'i
1100(1 Japanese lat 454a. 84
I IKKMI iln nnr n S Jti . ?..
1711(1(1 Lacka, Steel 5a llli'3 llllh H!l
10011 do 5a 11150 hi;, iiji
H!!!i!! !-fn Yal "f N t a. . iki, mr
2(10(1 Ue & M T 5a KutJ lull
hlillll r..tiinr. ? ,..,if ..L1.
Aisoclalcd Oil
AtchTop ASF...
llald Imx) Wki
Hald I-ooo Wki pf .
Halt AOhlo
Hethlohem Sloel ...
llrooklf n Hap Tt. . .
Hullo A Superior
Huttorkk Co
Cal Petroleum
Cat Petroleum pf ...
Canadian Pacific ...
Central heather
Central Leather pf .
Chandler Motor
Chei A Ohio
Chllo Copper ........
Clilno Copper
Chicago (It West . .
Chi (Ireat West pf .
Chi Mil A St Paul .,
Chi M A St P pf . .
Chi It I A Pac ...
Cluett Pea A Co....
Col Fuel A Iron
Continental Can . ...
Corn Product Ilef. . .
Corn Prod Kef pf
Crucible Steel
Crucible Steel pf
Cuban-Cm Sus.ir ... .
Del lick A West ....
Denier A Illo dr....
Denier A Illo Or pf .
Diamond Match
Dhtlll Sec Corpn ...
Dome Mines
Erie
Krlo 1ft pf
Krie. 2(1 pf
Fed Mill A Sm pf ...
Ren Chemical
fieneral F.lectrlc... .
tieneral Motom
Oeneral Motors pf. .
Grcene-C.inanca fiOM
Goodrich II F 70)4
(MH 07H f!.V C,7i
1024 1023 1(11)4 lt)2lf
8!) 1)2
103 10!)
8554 !
ISO! .100
. S1J4 85
. IK! D4U
28 28
. 21'f 22'f
47'f 10
1IW IH7H
. at r,m
.llii 111
02i
. 22'4
. cm
. 1214
. mn
.12Si
. IS
. OS
. .12' i
. 8(1",
. 2()Jf
. !4a
. 82
.lll'j llfl
.2.'ISi 2.'l!)'f
221 22"i
. 12
nlj
107'4
. uH
. 2.VS
. ,'HJf
. r,Vi
. -1 I'a
. 10
.:i:io
IK!
02)4
22!f
MH
12)4
n.5!4
nii
120
7'i
70
Wi
87H
20Ji
01)4
So
...lo:t
. .-!0.-
..113
12
22J
10S
:ah
2.5H
:I!4
ran
II! 5
12
.'ito
101
420
nr
oO.'i
v,
(Iranby Consol 87J4 87Jf
tircat .Nortnern pr. . ..llDJf 120
(It N cfs for oro prop. 40Jg -I0J4
IntAKrIcuIlur.lI pf rlH .ri2JS
hit Con Cor v t c sh.. l(jj 17
Int Con Corpn pf 7.1! 4 71
Int Paper io'j 11
Int Paper pf .15'n 4714
Inp Con Cop .(j .10 1 ;
Int Nickel v t eft . .. -!)'4' MM
Int Xlckcl pf v t cfs. 110 100
Int M M c of dp 24' 29)
Int M M pf c of dp, .. !)()',' OS
Jewel Tea 87a 88
Kan City Southern 2.Tj 25
Kelly Sprlne Tiro 71)4 725S
Kelly Spj Tire pf 07 02?5
Kennecott Copper fl7'i 5S
Lack Steelj Co 70'i 71 4
ux Itutiber Tire 51
88
100
85Jf
too
85
0.1
28
22'f
10
107t
o3)
110H 111
02H 0.1
0U4
22' i
MH
Wi
H.5'4
Ol.'f
120
17!f
70
42'f
80' 4
20
01'4
8I!4
115
2.'!0
225
12
22'4
108
ol'.j
25U
3515
51V
II' i
II
330',' 310
l(13)i 104
415 420
1134
50
70
87i
110? 8
40) j
80J
10i)fl
80i
100
85
04U
28 I
22Jf
10
107)4
5 IK
02'i
on
54
12)4
35)4
0114
120
17J4
70
I3!
87' 1
20H
01'i
83'i
115
230i
225
12
2-Ji
IDS
53
25' 4
:li
52
11)4
12
117
50
77
S7!i
UOh
Lohlsh Valley 77)f
I.lBBett A Myers pr .. 121
I-oni; Island 2S
Lorlllard P Co pf 120
Maxwell Motors .. ..77
Mai Motors 1st pf . . 85
Max Motors 2d pf. . . . 57
Minn St PASS M..11S
Mexican Petroleum 07'
Miami Copper 38M
Mlwourl Pacific t'i
Nat Enain A S Co 2J1'
Nat Lead Co O.y;
rat wad Co pf
:cv Con Cop 17
New York Air Drake. .131
N Y Jf II & II 00
N Y C A H It ... .
N Y C A St L 1st pf
A' Y O A West..
17
71
11
10,'j
I5H
10
100
01)4
87
25
714
02)4
57)4
70
fiOJi
78
121
17
71
11
17)5
45)i
193 i
100
27 'f
034
8S
25
71TJ
02'i
57)4
71!i
51
70) i
121
703
121
2S 27)4 2744
110)4 110)4 119! 3
-70)4 775f 78
80 85
50' i 57'4
USU HSU
100U 00' i
V(
23' 4
00
37
l!4
21
004
85
573 a
118'4
100)4
37
l'f
23'
00)4
.113' ll.'lla 113'4 11354
i;
135
00' i
10.T4 10 IU 103
8-1)4 70 70
27'i 20i
1734
133
59)4
Norfolk A Western ...12.1)4 12 Mi 123'f
North American . . . 07 08'i 07)4
Northern Pacific 111)4 1HJ4 1UW
hooo I.orlllarit 7a mil
ihiiiii .Manhattan 4a 11314
f!8'J ?! lian & T 1st 4a 73
1000 Mo Pac cona (Is ... looi
2000 Mont Power 5s iiil'J
5000 N Y Canal 4a '01... 105
2000 NYC. II Ua liau
80ll N Y C A II 4H . . Il4ij
3110(1 N Y City 4a lllSs . . llUti
150(1(1 N Y City 4a 1U5U ..Hill
10(1(1 N Y City 4l! 1U0O.KI2
70(10 N Y Tel Ken 4Ha .. MM
"""" "uu oc nrsi ta ... Hit
U0110 Nor I'no prior 4a... n4
lunil Nor Pac Ben 3a..., t
1000 PatlBo Tel 5a , lili'J
6000 Penno, 4a 1II4S 05,
1000 I'enna en 4)4a 10.1
1000 Public Serv N J Ca. on
inuuii iieamnff sen -la...., 11.1
Hinil ll1f lula.. . 1
Hum Hock Islam! rfd i'a'.'.' HS
.. 01 j. ai as o Ull is IU
ihiiiii tit I.&HKrM ct ata 4a (i
noon do rfd ct 74H
5000 South Hell 5a loo
27000 South Pao i-v 4a H7"i
12500 do cv Sa 1011
Mind Houth Pac rM 4a... Iioii
3000 South Hwy gen 4a... 71
SOilu Houth Hwy con 5. . . llll'.i
200O Tcxua it Pao lat 5a. U7
1000 Texaa Co cv Ha 105
1000 ThUd A9 ref 4a... 82i
1500 Toklo 5a .' 7SU
45000 L H Steel af Sa 103
40il It S S It t J Ha. .113
IMMin Union Pac lit 4a. . oil!!
111000 L'r.lon Tao cv 4... 03
47000 tin Hwy a 8 F li ., 3d
100(1 Va I C ft C lat Sa. ii
IO110 Va Bwy Sa M7J4
looo IVabaah 2d 5a. . . MStl
1000 Wb-l' T lat fl pd 31U
12.1
72J
llillo
H'l'A
105
1I3J4
U4U
llft'J
103
()h'4
0.1
II2'i
lilPi
105J
111 '4
8
4 L"s
lt!
7U
Oil
7454
10(1
N7
103I
00
70Ji
1)7
105
H2J.
104J.
Urttf
07',
3 Hi
Ontario Slher Mln ... 10'j
Pacific JIall 20
Pennsylvania It It ... 50' i
PitU Coal Co N J ... 28
Pressed Steel Car Co. . 47
Quicksilver ,'))
Ity Steel Sp Co 30) i
Hay Coq Copper 2354
Heading 87
Republic Iron AS .... 47
Hepubllc I & S pr ....103
St Louis AS F IJ4
Seaboard Air Line 15)4
Seaboard Air L pi .... 37
Shat Ariz Cop 3334
Sloss-Shef S A 1 52)4
South Porto 11 Sue ...212
Southern Pacific 0034
Southern Ity 21)4
Soutnern Ity pf fll
btandard Milling 0434
Standard Milling pf. . . SO
Studebaker Co 131
Tenn Copper -19)4
Texas Co 18734
Texas Pacific 10)4
Twin City II T 95)4
union nag & Paper . . 0
10
25J4
55!i
28
47
3)5
1
133
00
101)4
7ta
20)i
121)4
0S'4
111)4
10)4
27
50
28
4734
3M
37)4
23
89)4
IS
10SJ4
2)4
15!i
3034
3334
52)4
Union Pacific 1335s; 134
708,181
53S.400
1MILROAD EARNINGS
CENTUAli OP OEOItaiA.
,, v 1018 Inc.
March icroea 11 l'u M.t ttu -iii
Net 291,724 3l!5ol
Nina montha' groaa, B,B3S,017 22H.103
Nt 2.403.215 403.184
PENNSYLVANIA HAIUIOAD.
., ,. ., . 1010. Inereaaa.
March operallnir rev. ,J8.nil7,001 14,282,231
Net .. 4,213.471 2052230
Three moa op. rev.,., 53,1142,022 12.711.012
Net , 11.231,050 11 010.000
CHICAGO, INDIANAPOLIS LOUISVILLE.
March irrnii . fftTK qq iiaoi'r
N i:3!?3rt 89,633
Net ...., 1,883.831
PENNSYLVANIA COMPANY.
March operating rev. I5.703.73fi 11,078.005
Net , ... 1.4U1.474 802 681
Tbrea moa. op rev.... 13,830,574 4.890 105
Net 3,525.347 SiossloiS
PITTSBUKOH. "CAOOjCINCINNATI AND
March operating nt.. 14.187,157 11.(178,091
Net 844,353 348.588
Threamoa. op. rev.... ll.Ut7.U73 S.151.573
et ,- 2.2a.B8 1.352,037
WESTERN MARYLAND.
March TO ,,,,.'... lio.'i.sno
Net S8.2Si
Nine montha' croaa . 8.0O4.S72
Net S.4U0.484
JERSEY CENTRAL,
March groin 13.dtlu.128
Nef , 1,147.483
Surplua 340.B18
Kino month' groaa .. 27,133,443
-Jit 11.222.894
Surplus 4,;ui.t;ij3
NORTHERN PACirfc.
la, 470,835
1149.01
. :ii,88
1,7M,IS3
1.130,19!
March irrosa
Net .
Nina montha
Nst . . ...
jrroaa
ST
March aroaa
Net
Nl BUiStha' sroaa. ,
Net ,.
CANADIAN
t?rea& earslzisa . , .
'U. n.lin
. 3H"'rw - -'
&T3S& i.Tfincr i.
k-:'f
2.594.727
50.291.402
23.(11)4. 3S9
rAUL,
18.740.328
2. MS. 833
7a. 33.717
24,'J35,8I1
KOSTKERN,
2.6l;TiJCO
1SS8.673
301,54a
170,001
3,532,963
1,BI2.0
727.11
11.699.005
892.901
7,188,474
,9S8.37S
ll.2S7.131
378.923
9.134.44T
8,21, 200
7M.500
isijtoo
t,mi.tm
Ublted Cigar Mfs
L S Ind Alcohol..
USCIP4 F
United Fruit
United Itys Inv Co. .
Un Itys Inv Co pf.
L S Rubber
U S Steel Corpn ....
US Steel Corpn pf
U b Ml 11 it M
USSm K& M pf. ...
Utah Copper ,.
Va-Caro Chem
Vo Iron Coal & 0
Wabash .
Wabash pf A ..
Wabash pf U .,
West Union Tel
Western Maryland
West L & M
Woolnorth F W
Quoted ex dividend.
00
14534
2034
14744
11
ll'i
20)4
50)4
2S!4
4S!4
3)4
37)4- 37
23 23
89)4 80)4
48 -17' i
10854 10S!j
2)4 2h
10 154
30'i 30)4
34 33'f
53 52'4
211 211 211
07J4 0034 U7J4
21H -Di 2134
01 00)4 COH
05)4 95 05)4
80)4 80)4 80)4
133 130)4 131J4
5034 40)4 4034
18734 18034 18734
10)( 10 10)i
00 om
a 0)4
13.134 131
9)4 59)4
145 149
193f 20M
14734 118
10)4 1034
22)4 21
53 5134
b334 8334
0054
034
9)4
149
20JS
149
11
23J5 21
53 55)4
8334 81
.110)4 11554 115K 11554
. 7534
. 52
. 82)4
. 43
. 51
14)4
45)1
20Ji
01
3134
58
126)4 12744 12034 127J4
70 74H 7434
52)4 52J4 5234
82i 81H blli
43 4234 4234
5234 52 52
IU. 14)4 J444
45)j 443i 4154
2734 20!i 2034
02 0154 92
30J4 3044 3054
5834 584 58)4
Financial Briefs
The total Income of the American Light
and Traction Company for the year end
ing March 31 was 45,441,626, an Increase
of 4885.46:' over the year ending March 31,
1915. The net Income Increased $374,163
to J5.272.108,
Gros3 earnings of the Hercules Powder
Company for the three months ending
March 31 were $12,308,298, an Increase
of (10,342,381 over the corresponding pe
riod last year; net earnings, 84,941,235, arr
increase of 14,475,082.
Samuel K. Reeves has become associated
with the firm of Steel, Jones & Co.
Detroit United Railway System's earn.
Inga for March were Jl. 337,688, an In
crease of $229,781 over the same month
laj t year. Its net earnings were 420,922,
an increase of 8110,077.
DIVIDENDS
r
West Penn Power Company
(referred black Dlildend No. 1.
. , April 37. me.
Th Board of Director of tola Company has
declared quarterly dividend no. 1 of one uuil
three-fewiha ",lj' u. upon the pr
value of Ua seven 47 Wl per cent Cumulative
Preferred Stock, payable on ttu 1Mb ef May.
1918. to tby holder of aald stock of record at
UK" clone of boalneu ,My lat, 1910.
Plvl4eo4 sheets yiU bt malleit t Stookholil.
1 H. 3 8WU"ft Treaauxer
BHtKOniXY A.CCOVHTMiTH
C-fcttUiU fntUg jMeyutaU
1 tn 0 14 . ntlll Anltl. t'.hlnalt.An mnrl. n
Kiiln of l"4 to 21. The silver nnd copper
stocks wcro nil In vigorous demand. The
henvt-st trading In this Rrouri was In Ray
Hercules. In which some largo blocks
changed hands nt 4T4 4TB Oil stocks
shnrcd In tho genernl Improvement, with
Oklnhomn Producing mhniiclim' to 7 and
Houston oil moving up to 21 flnlns of 1 to
2 pniiitn In other Issues were numerous,
with Tobacco products about the only ex
ception to the genernl dlsplny of strength.
The two established market lenders,
Cuba Cane Sugar and Mldvnle .Steel, made
c.i'i'f nf about 1 point. These Issues nre
not now Oh speculative favor, buyers hes
itating about malting commitments on the
long side because of tho nppnreut unlimit
ed supply whenever upturns occur.
1NDUST1UA1.H.
Aetna nxplonlves LMili ;iti
Ilteenlnlir Tnlincro nt nil
niceiiliihr Toburco preferred HSV4 llll
AJnx IIiiIiIkt on 7
Alllerlcall-llrltllli Jifir "1 :i
Amrrlrini Mnrconl 3 31s
I Sales in Philadelphia
23 Am t.oeo .
20 Am . Ice no.
10 Hald I.OCO . .
212 BulT A Sua t c
4 do pref . , .
200 nnu .TO ....
343 Klec Storage.,
aim Krlo .,...
250 Dlat SeCi....
15 Uen Aanri pf,.
no Int Mcr ft t. .
10 Ini Co N Am.
2 Key Tel Co...
S3 I.k Pup Corp..
343 lhlgli Nnv..
n li Vnl Tr Pf-.iJ,
200 Nev uona . .
320 IVniwIl n..
,1 Pa Halt .Mr.
B l'n Steel .
23 Plilla Co ...
23 do cum vrtd
3B2 Thlla Klec ..
4ii I'ltTlc...
1 J'nua jrac.
Net
Hlh. Lbvr. Closer chjre.
78"i 73J 78 .--0
281 28)i 2Rji --.
IM 0t4 l. --Jl
B3H 61 88H --4J4
on no 00 4- H
34 34 34 10..
mis no., nr) (.
28H lm 2S 4U'
23 23 VH t
14 14 14., f
15 32 38 2
IO n i
Jl & .
M"
IU
7.11 Head nic .
7I)(I3 Ton li.el
10
28
Rtt1
17 J7
101V 101'i
T
SO
is
Tt
8(l'i
17(1 Ton Mln .... (JJ
in VOl., 87H
1C01 U S 8teel Stti
llll Utah Con . . . 82S
Wnt J &
7.1 WmeUramp
loo York Kwr
'Kx dividend.
Vllnnllr flnlf
Atlartlr (lulf pfd ....
c-)n Car
'' ni'nr proterred . . . .
(. hevro!i.t Motors
Ciiln c.ihi. Sucnr . , .
CiirtH Ai'rnplnne
DrlirwM-Henl.ury
Ilnirrsiin rhouoffropli
llunki-ll It llnrker ....
Hi 111I1 o Jlfc
Inter Mer .Murine ....
do prrf
KHthottlnn Ilronze pref
Mnxlm Munitions ....
Man Trnna
.Mliltnln Sli-el
IHIn i:ientnr
IVcrleps .lotors
I'OOIO
37
.. fi1.
. . 08
. . 78
. .2(H1
, . dl'i
.. 1(1
..1.17.
:: Aft
. . 28
::iiL!'
::' "k
::
71:
202
II
.10
211'i
113
.lll'j
.?T
Knc
H a Krpai
Kti.nilnrl Motors ....
Hiilmuirlnp
Tilancl. I'llm
fnlli'il Trrllt Sharlns
V H I, 11 ..1
do nrnf
Wlllln Motors 4(1
World Film l'i
KTANDAKD OIL, SHUSiniARIKS.
Illinois 171
flhlil oil 2.1.-.
Pnilrli IMp 212
S o nf Ciillfurnla 247
S O of Now Jprsey M2
H O of .Vow York 210
OTJtr.Il Oil, STOCKS.
Cnsdon Oil "!
rhnlmers OH ..
Inter IVt
lloimton Oil . ...
.VHilwput Itellnlns
Hupulp.1
r.
M5
2llH
117
13)4
I7r.
2.18
217
J527
213
. 23U
8
12
21
118
13S
i;:s
37
JIININQ STOCKS.
AtLintn '.
Uutlo Copper
Ilultu ('opper New York
tVrrn de 1'naco ,
l-'lmt Niltlonnl Connor
(liildfieM Merser 12
lli-el.l Mllllns ',
Howe Hound .'ij
.Ilin llutler 1-lu
Jumbn 7:1
Keneflck Zinc 1415
Melvlnpy-Inrraen 70
Miiirinu Copiwr 171
Mines of America 2
NlpliMnc Mi,
San Toy ', ... tu
SI. Joapph Lead 11H4
West Hnd Con 11111
(Vrro (Is , 114
O r.s 1171.
Mldvalo 3s uVt
13
H
3
38
1?"
fl
r'h
711
IK
72
17i
.1
8
IS
Hl
1IU
llll
07H
II7'5
Ann Arbor Paying Notes
XKW YORK, Mny 1. The f! per cent,
notes of tho Ann Arbor Railroad Com
pany, due today, arc being paid upon pres
entation. Tho funds were obtained from
tho salo through local bankers of an Issue
of short-term notes, ns recently announced.
Dar Silver Is Slightly Off
Bar silver waa ciuot.-d in jfew York today
at i2Tic, u decline of ir. from Saturday'a
record high prlre. In London bar silver vua
ouoled at 3."d.. a drop of till.
MR. J. L. BELZER
FORMERLY OF W1STAR U
STOKES, BECS TO nAN
NOUNCE THAT HE HAS
OPENED AN OFFICE FOR
TRADING IN INACTIVE AND
UNLISTED SECURITIES
UNDER THE NAME OF
J. L. DELZER c CO.,
FRANKLIN BANK BUILDING
nn Ttr.r.,..t ?J
ooe
Keystone, Race j0oJ
May 1, 1916
We offer a new issue of
3-Year
Convertible Gold Notes
Yielding 5.75
Particulars on request
fbr Circular PE-99
N.W.Halsey&Co.
1421 Chestnut Bt., Philadelphia
New York Chlcoro San Froucltco
BUILDERS
Before your present coaipunr hae a
chance to say "So," a.li me about
vludne our aorety tionj.. I'll tit
ou (lie bt.t of aertlce, relieve you
of all detalu. Inaure your setthur
loweet ratea and protect ou In eery
ay, (let KKAI. bUKVICK.
HARRIS J. LATTA
Pennsylvania Bldg.
$500,000 to Invest
IN MORTGAGES
LARGE OR SMALL
THE COMMONWEALTH
Title Insurance and Trust Co.
CHESTNUT AND 12TH STREETS
Georgia Rwy, & Power 1st Pfd.
Northern Indiana. G. & E. Pfd,
Wilmington Gas Co, Pfd,
REED A. MORGAN & CO.
wi jmp jbcst utaa.. raw.
M Jll
. 81H
.. 1.1m
BONDS.
High.
lliOOO Alio Val 4.. OJ,,
40011 Am fl ft HI 5s H3 i
1UO0 r.l & I'.Tr 4s. "H'4
lnoil Key Tel let ns us
liinii
20011
1 Dili 1
innn
Hum Ivn rii.fl t c 8.1
lunil PI1II11 1;Ipc na.iin
A Bll?4.
n 7-10 r.U
13K
n
40
21 Ji '
UV, 't
11 tat.
.li
silt
tu
134
I,ow. Closo.
IIT 117
113 IM
7HV4 7UH
IIS lia
r'it
-8
Net
Ch'Kl".
I, V Jffl 4s.. 112 Jl ll-'5 II2H
do CM r.a c.lo-,, ni-vf. linf .....
fa Cogn 4'-a.l0liJ loiji 101 H
do mn, i'ib.ioM, in.i? unH
H3 .in
lot lui
innn Mjmn Am I IKIIUU Hr2tt HU'i
liioo In Hw Inv fn 73 7.1 73
'1
NEW YOKK COFFEE .MARKET
SKW YOKK, Mny 1. Tho corteo
innrket wns cnslor at tho openltiR.. nnd
under rnthcr nctlvo liquidation, which
seemed to bo for European account,
prices, declined G to IB points on tho
nail. Sales wero 10,500 bags.
Saturday's
clnsp.
March 8.70 8.W)WS.82
Mny 8.30
Junn .. .'.
July 8.J1
AUJint 9.1?
ycptcmlier 8.4 1
Orlnlier 8.4R
NoemlHr
December 8.52
January '8.011
Kcbruiry
Hid.
Today's
oprnlnff.
8.70
8.37018.30
N.41 W8.43
8. IIIW8.47
8.r.018.fit
8.i"4fl8.."ill
8.ri7M8.."ift
8.IU W8.I13
8. IIS Or 8. II3
8.70IQI8.72
8.7RIBI8.70
GOVERNMENT BONDS
R2GCT Hid.
's rcul.tcrcd 1030 ';
3i coupon 11)311 I'D.1.
3, rcsl,tcred 1018 Mill
3.1 coupon 11118 1014
II2i
112
B.A.
4 O f
Bo V
' l
Asked.
100U
102i
BIG ADVANCE IN BUILDING
Month's Activity Shows Increase of
$2,777,880, Says Statistician
The' total estimated cost of all build
in gn for which permits were lwed dw'JK
April, according to ABures corrtplled by
WllllAm Gamble, the statistician of the
Bureau of Building Inspection, Is .
780, an Increase of $2,777,880 m compared
with the corresponding month ol last
year and $1,037,160 Increase over March,
1916.
Ono hundred and flljty-four Pe""1"
were Issued for the erection of two-Btorjr
dwellings nnd 1160 operations were begun
at an expenditure of $2,670,460. Twelve
permits were Issued for manMftMjtorlw.
the estimated cost of which waB $266,600.
The estimated cost of buildings for
la
itch permits were Issued, duHnafl
si four months, of tha present voniOl
6,116,260, which shows an InrfiJrSl
which
first
S16.116.250, Which. ShOWS nn Ik....5
$2,791,650 over the corresnondlnVKs
of 1916. April, 1916, Is the lireest fn2l
for tho total cost of permit lV.ed Si
lVUli
DIVIDENDS DECLAnEt)
tjAtlonfll IlAnk Of CfrrmitntAtit,. b.i. -.
annual ol 6 per nt., payable May i ,!!;"
of record April 21). " toek
Wmhinitton and Vlralnla nallway Cobi.I
Jli per cent, on preferred stock, pajsMl'tll
1 as registered April 28. Books cinEr .fi
28 and reopen May 1. " CI0"(I Aurjl
Tne wasn nston-viririnlft rial itntA 3M
nyable today. ira t6eu
pay
Ml
outhwark National rtnnlr. KM.i.
annual of 4 cent,, payable May i fa 5?tl
of recorU April 22, I0 t9ckl
Fldelltv Trust :nmnftn. .....!.. . . . vsttil
-- r. --.-"?' v-utnr on&n..irB
oi o per cem., DKyaom on oemand to iSiSi
holders of record today. lD tocw
International Nickel Company. M ii-?"
cent.) a ahare. " ttt.
PUBLIC SERVICE
SECURITIES
Condensed Report to Comptroller March 7, 1916.
nr.sounons
Stn.'l..I.T.',:ia3.i.4io.T
Due from Baniis. . 4:888,081.46
Exchanges for
ClearlnB House. SSi'Sis'Sl
Cash and Hescrvo 8,638,063,24
$37,640,041.73
Capital
MADIMTIKS u
$1,500,000.06
Surplus nnd Undi
vided Profltn . .
Unearned Discount
Circulation ......
Deposits
1.621,101,7$
42,280.24
1,000,000.00
3M7G, 659,76
I
".17.640,041.7$ ,'
"The dependence of iminfci
pnlltlcs oil 1'nblic Rcrricc corpo
inttnna is the strength of their
securities."
G, VJc recommend as a desirable
investment:
C, Empire Gas and Fuel Company,
1st Collateral Trust Sinking Fund
(sro Bonds. Tax Refund in Pcnna.
C THesc bonds arc guaranteed princi
pal and interest, and arc a first lien
on the securities or properties valued
conservatively at over $27,500,000.
C The physical condition of tne
properties and progressive management
insure continued increased net earnings.
C, Complete details will be handed
you cither personally or by mail.
C Price to Net 6r''.
Baker Ayliig S. Co.
Larvd Title Bldg. Philadelphia.
, tit
Southern Railways Co.
1st Cons. Mort. 5 Bonds
Due July 1, 1944
Price at Market
Sff
H Due July 1, 1044 IJ
B Price at Market M
5XIUVJ JH1J LiKUL-klIUul HJ--MJ VJlXULZajULZ-:
was
&RsiKiMniMI!
CAPITAL, $1,500,000 -SURPLUS,
$1,500,000
Our orlffinal capital at trie inccphon of the tank
was $150,000, but thi8 was soon found to be
inadequate, and it was increased to $500,000,
later to $1,000,000, and it in now $1,500,000.
The surplus lias likewise shown a splendid
frowth, and is today equal to the capital. Undi
vided profits arc $121,101.73. Stockholders in
a national bank arc liable for an amount equal to
the par value of their stock; so the total stock
holders' liability is $3,000,000 and the surplus to
depositors $4,621,101.73. Dividends arc-payable
quarterly at the rate of 10 per cent, annually,
the total amount paid to stockholders since organ
ization being $6,192,500.
The First
National Bank
of Philadelphia.
315 Chestnut St.
INVEST IN MORTGAGES
AT 5.4
Recommended by
BEN T. WELCH
1328 Cheitnut St.
THE REAL ESTATE TITLE
INSURANCE AND
TRUST CO.
523 CHESTNUT STREET
OF PHILADELPHIA
At the close of business April 29, 191$
,
RESOURCES
Cash on hand and in Banks $1,321,074.41
Call Loans with Collateral 2,390,343.00'
Time Loans with Collateral 20,039.87
Loans with Mortgages as Collateral.. 84,646.14
Investment Securities Owned 2,959,421.70,
Real Estate, Furniture and Fixtures.. 448,087.86
Miscellaneous Assets 242,831.62
$7,466,444.60
Liabilities
Capital $1,000,000.00
Surplus and Undivided Profits 1,708,739.55
Deposits ...." 4,756,443.19
Miscellaneous Liabilities 1,261.86
$7,466,444.60
Trust Funds kept separate and apart
from Assets of Company $14,683,760.38
EM.IL ROSENBERGER DANIEL HOUSEMAN
' President. , Treasurer.
y y jcr!?'"'"M'jvTi
.
,
ON and after May 1st, 1916, there will be no distinction
between our Paying and Receiving Tellers, Deposit
may be made and checks cashed at the same window.
Accounts Solicited
Commercial Trust Compmny
i
:
v
City Hall Squill
ffl
JktMr s ILo r WU. MtaA iiggfy
4
gwa
mr&tmammm&m