m
SU
-i'
rt
i
ISVENIKa LEDGEB-- PHILADELPHIA, FRIDAY, MAY 12, 1016-
FINANCIAL NEWS
MANY ADVANCES IN WALL STREET;
DEMAND FROM OUTSIDE IS LARGE
Upward Movement in "Big Four" Is Connected With
Arrangements Believed to Be Almost Complete
for Formation of New Raiway System
New York Stock Sales
High Points in Today's Financial News
Five auto parts Companies to be merged under control of Unilid
Motor Corporation. New York banks gained $1,00JT,?31 during week: J.
P. Moraan & Co. received S2.S00.000 in aold from Ottawa. California
f fruit growers lost claim for flgOOftOO for damages against Southern
raetfio and 250 other railroads, liaiiroaas placed large equipment toraers.
Dry goods buying small. France wants loan of bonds of neutral countries,
excepting the United Stales, to help exchange. Bar silver up again in
New York and London.
' NEW "VOItK, Majr 12.
The stock market today reflected thp qtilel development of strength which
has been In prosress ever slnco the acceptance of tlio German note by the Admln
station and the further strengthening Influence of the German messago In
regard to responsibility for the SussSx disaster,
With those documents on hand about the only Incentives for bear operations
wero removed from tho speculative situation. Their first effect was to release
accumulations of funds which had been retired from the market all through tho
period of Uncertainty when n diplomatic rupture was feared, and the efforts to
employ these funds, whllo made In such a way ns not to attract attention, fur
nished n solid base for an, upward movement
This change In tho situation came with an excessive short account existing
In many Issues and those who aro now put In a position of being obliged to
cover shorts must competo with tho demand for both Investment and speculative
account, created by the new outlook.
Whllo professional Wall street was busy today In Its arrangements for to
morrow's huge preparedness parade, tho demand for stocks from any outside
sources was so largo as to force numerous. Issues to substantially higher levels.
The character of tho market may bo Indicated by nctlon of the leading standard
Issues. United States Steel common rose 1 point, crossing 84, while Willys-Overland
roso 16, points to the now high record of 2G3U. Between these extremes
there wero many advances, ranging from 1 to nrotuul 6 points, early In tho day.
Marino preferred was .the moHt prominent feature, making a gnln of 2',4 points,
but most of the buying in this stock was for uneasy shorts.
Many ortho-railroad stocks wero In such demand ns to wnrrant special In
terest. Canadian Pacific roso more than 7 points, and Now Haven ndvanced
3 to 62. An Important feature of today's trading was the urgent buying of
"Big Four," which followed a: gain of G points yesterday, Avlth another gain of
B points today, selling nt 54. This movement was connected with arrangements
believed to bo almost complete for tho formation of a new railway system to
Include. "Big Kotir" and Pittsburgh and lakc Eric, but the consolidation is sub
ject to tho sanction of the Slato Commissions.
It Is possible that lntimntlons have been received that the necessary approval
has been obtained.
New York Banks Gain $1,004,731 in Week
NEW YORK, May 12. Irrespective of tho gold bars and coin Imported yes
terday and today from Canada, tho known movements of money Indicate for the
week ended yesterday a gain in cash of $1,004,731. Adding tho gold would bring
tho totTTT Increase in cash to more than $3,000,000. The banks gained net on the
domestic currency movement $5,251,731, but lost to the Subtreosiiry $1,287,000.
The gross domestic receipts were $8,600,531, ngalnst $7,64C,3D3 and the shipments
wero $3,248,800, compared with $2,501,859 last week. The Indicated net result last
week was a loss by the local banks of $4,195,466. They gained from tho interior
$5,084,534, but lost to tho Subtreasury $9,230,000.
$2,500,000 in Gold Coin Arrives at New York From Ottawa
NEW YORK. May 12. Gold coin and gold bars amounting to about
$2,500,000 were received at tho Subtreasury and assay ofllco this morning from
Ottawa for tho account of J. P. Morgan & Co. As approximately $1,750,000 came
from tho same source yesterday, the total brought In on the present movement
is $4,250,000. It is understood that further substantial amounts will bo shipped
trom Ottawa within tho next week, until a total of between $10,000,000 and
$20,000,000 has arrived.
WHEAT WEAKENS
BECAUSE OF RAINS
Considerable Damage in Okla-
home and' Southern Kansas
by Hessian Fly
CHAIN BELT 1VKATIIEK FORECAST
CIIICAOO. .Mar IS. The neutlitr fore
(nit for 30 hour follow:
IlllnnlH unci Missouri Showers tonight
an! orobnblr Sat'irdayi runtliiiieri cool.
W'lsronsln Unsettled tonight and
Hoturiiny. with shonem east and nouthi
continued cool.
Minnesota Pnrtir clonilr nrnl con
tinued cool tonlcht and Saturday t nroti
Ablr unsettled south tonlsht: probably
front north tonlcht.
Iowa Unsettled and continued rool,
with showers tonight and probably Hatur
day. North Dakota Generally fair tonight
and Natnrdayt prohnblr front tonight;
rising- temncraturet Hntiirtfny,
South Dakota Partly cloudy tonight,
with frost i cooler northeast: Saturday,
fair and warmer.
.Nebraska Unsettled tonight, probably
showers east nnri soutlit Saturday, partly
cloudy and slightly warmer.
Hanson Unsettled and continued rout
tonight and Saturday probably sliouerti.
CHICAGO. May 12. Realizing weak
ened the wheat market today after It had
recovered from an early recession. The
Influence was assigned to general rain In
Kansas, Nebraska and parts of Missouri
and Iowa, and a bearish report by the
Modern Miller. The latter Indicated that
moisture, badly needed In Kansas and
Nebraska, had benefited the crop.
Ilaln Is still required in Southern Kan
sas and Oklahoma, and some western dis
tricts report flrouth. Hessian fly and
green buss have done considerable dam
age in Oklahoma and .Southern Kansas
and contlnuo-a menace. The soft winter
wheat crop received timely rains and Is
making progress without showing ma
terial Improvement.
The market at Liverpool was firm on
smaller exports. oTnnage continues light
because of utilization of vessels for war
purposes. May closed at the lowest,
Jl.lP. after having touched $1,16),
against $1.15 at the end of yesterday;
July finished lie. above trie bottom at
$1.16, against . .1.1GU at the close yes
terday. September closed at the lowest,
11.18,, compared with $1.16, yesterday's-
last price.
Itecelpts In the near West were liberal
and arrivals at Winnipeg were heavy.
Exports of wheat and flour for the week
from the United States were 10,205,043
bushels, against 9,302,74G bushels last
week and 6,687,503 bushels a year ago.
'Since Ju)y 1 they amount to 379,610,973
bushels, against 356,396,305 bushels In the
preceding season.
Corn followed wheat, recovering from
an early loss, but receded and closed Un
changed to l-8c. lower- The recent de
cline stopped sales by farmers, who de
mand 70c. at stations. Kxports from the
United States for the week were 847,110
bushels, against 622.004 bushels last week
and 666.478 bushels last year. For the
season they amount to. 22,893,698 bushels
against 34.687,670 last: year.
leading future ranged, ai follows i
... . Yeat'y's
wneai upeu. jiicn. 1.01T. uiob. Close.
May ..... iia?i j.iu
July ....: l.ltftt 1.17K
September, l.ltt 1.17M
Uorn tnew aeiueryj-;
J5i
1.15MM.1S& 1 '
J.lSii t.ldS l.lB'j
LisKi.iaiS Met!
Hay
JlllV
Btpttmocr.
Data
toy
74H
pumper.
July
Keota
Lard
-May ....
Jul . . . .
September. 12. V3
41H
14
73
47
4sS
40
. 12.TT
. 1J.1S
7&U
AS
?'.
78
1
4'i mw
S'4 74
s 'nit-
p
May
juiy
tlu
12.82
U.St
43U 43H t431i
12.87 1S.SJ
13.t 'I2.S7 mlai
12teQ 12.60 ti;.SQ
l.ifv . . 14.
bepttrabtr 12.T5
-or ,
May . .23.05
JUL
Sulv
Bstrobr aa-30
u
21.70.
tAsWd.
12.07
13.77
23.05
23 70
112.60 J13.85
t Hs.61 li.ea
23.S& 23.83 123.8T
23.6 t23.03 55:30
12.55
JNomlnal.
23.25 23.03
JJJIW YORK BUTTER AND. EQQS
NKW yonK, ,Myt 12 BDTTEIl Fairly
ativ ami Brm tat cuolef, ji4 fwioy grails.
liuor uualltbJJ aHMdy. JUcelpM. J4p,.Plt-
tgsa. Ban. 30o hUthtt Morio. 8jjv,31.,
5f Bt . lutaik MfWir. 3Wltfo,: stew
New York Bond Sales
tioon
7B4UOU
louii
Kind
100(1
r.uun
1UIIII
1SOOCI
.'10(111
tuuo
10(1(1
10(111
;(miii
luooa
1IIOIJII
asooo
40UO
tilltlU
2000
.1011(1
riiuiii
imiHi
10411(111
n.'ouo
L'OUU
2(M)I)I
noun
2U00
nooii
30(10
.tllllll
1(100
HIIOO
20UII
4U0(I
1000
10011
(1(10(1
lOOO
A0UU
200U
nooo
100(1
3.10(10
4000
loon
17.-.00
200U
7000
1000
loon
1001)1)
400(1
.10011
1000
1(1001)
liioou
S83IIOU
1001)
3001)
0000
30111)
2000
3001)
I00O
2000
2000
14000
nooo
1001)
1000
3001)
ItiOOO
1000
1000
1(1000
30011
4000
ir.(io
10011
BH00I)
2U00
3000
7U00O
22IH)U
42000
0000
6000-
2000
12000
100O
0000
1000
3000
1000
- 3000
loooo
13000
23(1000
S00O
&000
loooo
4 OOO
2000
1000
1S001)
3000
3000
BOOO
4000
-. 4000
000
1U00
lnon
1000
6000
coco
4000
2S0OO
D0O0
1:000
3000
POOO
4000
1000
1000
Amer Aer deli B... ufa
Analo-Krenrh B.... 1151-
Ara-enllrw as nJ5
Amer Mmolt Wc (;3..1lla4
Amor Tl clt 4 D2
do cyt 41jb 11171
Amer Writ Pup r.s. . 7h
Airlilsnn sen 4s U2!s
!o cvSi 1U17 101',
Atlnn Co Lino lnt 4s U
Ualt 4 Ohio 3!4.... vJl
ilo rpir 3i hi:
do 4-;,- Wl!i
(In rr 4ViH tl.-i'i
UtO.lVl, K&W V4s. HTvI
)"!lK0Ma 8 tun's
Uet5tfCl 1st Bs li!
do rM Sa toi'i
llrook K Tr Bs lutH..Um
llush Term UUir ns.. H7
CUC sen 4s. ..... . 7i)U
C(J(;2 gt I, 4l.: 87
Can Gov Bl w I 1U2II DO
do f.s w i 111:11 ui)n;
do Bs w 1 11)21 1)1),
t'ent Irf-atlitr 1st B.102
l.t'.1.'. vrronnt 4 s 3
chill Cop 7s l.to
Ches & Ohio cv 4!is HBS
Clone.
do Him
fhl Alton :i!as .
Olil Ut West 4s
' II A Q Joint 4a..
do Oeu fin
do sen 4a
O M It Ht 1" een-4a.
do 4s 11)2.1
cv 1'a
Chi Jtwy Bs
(Jona Gas cv Bs. . .
Del & Hud conv 4a.
1MI
. 40 !
. 71
UMVi
. U0tt
. II2J
U2St
!4fi
.107
. in:5;
. 12S
1(17
do rfil 4a " H71i
pen & H (1 rfd 5a. . 83
e.trott United 41ja. M
I)la Sec Corp Bs 7(1W
Krle conv 4a Ker H. 77;
do cv 4a Mer U w I 80 '
Ft Worth & r 1st Be.lUBVj
""i nivv ucu US. . . . KMU
.1. r..,i- r, .... ; ;-
l ,' alio J. U1T U9. . .
Hud & Man In Ba. . .
ii nieei uei 4!a.
lllilllhn kla.l Ku
III t -ant M.. I ., . 1 '
I C &Ht UliS OOa.KXl
Interb Met 4!ia 73U
Interb H T ref Oa. . us5i
Inter ller il ct 454 a. 103
Intern! 1'aiwr Bs.... no
Jap new o s 415 a.. 84i
wu iiatv tan . . . .
IC a Ft B i ,ir j.
Kan City .So 1st 3a.
do Ba ,
I-acka Steel Bs 1923.
.Huiinmun hs
lo ata 4a . .
Mo Kan T 2d 4b.
.no i-ac rv ce Da
do ct na iu'-ii
do rnl ha r) m)b 117 kit
Mont Power 3a ..... 0(li
Nat Knara A atp Os. nu
Nat Tuba Bs ., 101
NVU.I1 4(ia 82
HTCll! Ua ..'.III
N Y q M 11 con 4s 85
.irm
. 70
. . uill,
. .1021i
. . soil
84H
711
Wis
1)2
1)1 K
02V,
40
87ti
N Y C ft II 4Vsa .. t)3'4
N Y City aUa 1U.14 Ul
S X 1l" ?" 1UB3 1011?
Ki-C,tX4T" 10OJ,lO77
N Y tl 4W Knv H 111?
hr v n 11 . !..:
Norf i West 4s .; 03'i
Nor Pao prior la ., 02 .
uu mn om ....... UU
Ore ByN con 4s., J)2
Pao Tel Ba out!
Pa aeu ct 4Ha ,,,.1011?
Penna 4a IDotI ..... qbh
Pa 4tt 1821 IOItI
Put) Ber KJH ,.l)li
Itvad sen 4a 03tt
Hep Cuba Ba 1001.. 100
Hep lr A 8 Ba UK' 4
Hock. Island 4a .... hM
dorfij 4s ! T4
do Sa B7ij
do ct Ba 1 ata . . 33U
6t 1, I tl a 8 O ll. (18 !
Bt Louis Swn 1st 4s. 78
do con 4a 02
Stand Mill Sa uau
Stand Oaa Us 1021
Seab Air L. adl Ba . IS7U
South Hell Ba lOOVi
Bouth Pae cv 4 ... RS
do cv Ba 104 U
do rfd 4s onti
South Pac Term Bs. KB
South ItOT Kn 4a.. 71
South Hwy con 3a..101K
rexaa 1:0 cv us...
Third Ave ref 4s.
Third Ave adj Ba.
Tokio Ba
Trl-Clty Ba
II S Steel af Ba. ..
11 a s 11 1 m 111.
Union Pac 1st 4a.
Un Rya U F 4a...
Va Car Cm 6...
Vu Hwy Ba a
Wabash 2d Ba SSI
Weal Elea 6, I02H
1 on;.
104(1
.10.1
. . 8ll
'!?
" IV
. . fist
. .103)4.
..uiS
".
H
loni
U3K
IOHJ
UIS
100
D81
b4
BI
B3U
au
78
62
994
102
C0!
00
S7H
104 S
on
KB
811
771
09
103
9
102H
MM
74
r,7',i
SBU
78,:
02
it
100
88
mH
on
83
.o!h-
7C
IV'
09
I U.I
II
K'l
08
0
loan
ItAILROAD EARNINGS
TOLEDO, PEOBIA ANTi WESTERN.
1D1S.
April cross S4.138
Nat 3.422
Deficit SJM
Tan monlhs" sroa. . . 1. 018.333
Net ..;..." JS2.330
PnU 44.708
MI8SOUHI. KANSAS AND TEXAS.
First week May 1550,27(1
From July 1 ,27 S4J 32
WE3TBIW PACIFIC.
Kt "-,, 180.134
Hum taoalii' rsws. . 3. 44. 53 i
Vt I.1.S5
locrsaa.
H.02T
20,424
30,011
18.772
7S.I5S
128 S7
123. 8SS
l.JOS. 23
tt clone. Illrh. Uirt. Clot
Aatanre Ilomotf 18 10
AdMnee Mnmely bf... SOH 40
Alaska J Gold M 8H OH
AlMKa Gold Mines..., SOU 2.1'
AlllS-Chslmers Mfj..., 27H J8U
Allls-Chsl Mfg pf SOH 824
Am At Chemical...,., r0M C9)t
Am lleet rlatar 72U 7HH
Am Beet Sogat pf oa DO
Am Can Kn MIC
Am Cart pf IOOH lOWi lOOU I0fi
Am Cat Ik Fdy, fin! OOH W COH
Am Coal PioductJ 1B2H 16II4 154ti lolii
Am Cotton Oil r2H 6231 52M C2Jf
Am Cotton Oil pf.,.,.101 102' 102 102
... 4DJ
... 2!)
i.. 22i
mil
19 10
40 40
21 23
27W 2SH
SOU 8214
C7 CO'
72ii !2H
00 00
m r7
Am llld A I, pf.
Am ice secutiiics
Am Ltnjccd..... .
Am Locomotive. .
Am Pmelt fc ltcf.,,. O0J4
Am Ftnlt pf A. OIK
Am Smelt pf n 80
Am .Ctfl.t CntmilrlA M
Am Sucat Heflnlnir;... H2t" llhji 112U l)2!f
Am 5iiat mr pr 117 11751 llT.'f ii7?
Am Tel A Tel ,128W 12S!X 12SW lS-SK
Am Tobacco .M18W 'iCHlf "f)7!i t!07X
Am Toh pf new looii 105,4 100H 100U
Am woolen. 44
Am Woolen pf 08U
61
28U
B2H
70H
08H
OtU
80J
MH
M
28U
22! i
C0!
POH
n-iu
sow
M
fil
28
22)
70K
II7K
IHJf
SOU
M'f
1181,453
SSO
ia,s
m.i!
103
!I2
S4f
Am Wtltlnit V pf
Am 7.lnc 1, & Sm...
Anaconda Cop M . . .
Atcri Top & s K. .
Atch Too ASF. nf.
Atl Coast Line 108
Ilald Imco Wks 8051
Ualt A Ohio 873i
Halt A Ohio pf 7Vf
llatopllas Mining 2?f
llelhlehem Steel 445
Urooklyn Hap Tr KM J
Hulto A. Puprrlor 0lf
Cal Petroleum 23J
Canadian I'nciflc.
Central Leather..
Chandler Motor tlH
Clies & Ohio 02
Chile Copper 21)4
Chlno Copper fa'j
Chlcauo Ot West 13? i
Chicago Gt West pf. . . 37
CM Mil & SI 1'aiil ... !l.-
ClilM A St V pf 120
COCA St I, 40"
0OO1SI Lpf 76
Chi It I l'ac SOU
Cluclt Pea & Co 73
Col Fuel A. Iron 42
Col A Southern 28
Col A South lt pf ....'60
Continental Can 86hi
Continental Can pf 112
Conwlldalcd Gas
Corn Products lief. .
rrucihlo Steel
Crucible Steel pf
Den & Itlo Or Pf 23' 23H
Detroit United Itys. . .liav, 116
Distill Sec Corpn 61;( 633
Dome Minos 27'i
Dill S S A All 0
Dill S S A Atl pf 12
Krle 3f.?S
Krle 1st pf ... 62'
Krle 2d pr.
U' 41 44
08!f OSW 08!i
1034 IOH IOH
0234 01'5 nii
Hi'.; 81 RH
103H 103U 0SH 103'
.101 101 101 101
no no no.
0.)3s S0H 8834
H7ti 87 JTH
76'i 75'f 75V
235 2!4 234
410 44734 440
8(3 813
Ml 112
2334 23)4
lr.ntf 177U 171
62T 6.')! 63
02
02 If
i!lf
6334
13'i
3734
0.V4
l?f
02
21!f
63'4
13U
3734
Mi
IMi 128)i
6t
78
a i
7Hf
44
283a
62
87VJ
112
51)
77
103'
73H
42,'S
2834
60
80
112
80
02
23)f
170
63! i
01f
naw
21,U
5334
mi
37'
0534
12SJI
53
T8
20
74!.
43? f
2S34
62
87.-5
112
13314 132)5 13214 1324
IOH 1VH Il"X I"!4
. 70!,
.114
S3.1.' 70H 81?
H4H 114H 114!i
44' (
General Klecttlc ICC'i
General Motors 427
General Motors pf 1 10' a
Goodrich 11 P 70H
Granby Consol 80
Greenc-Cananea 60H
Great Northern pf . . . . 110't
Gt N cfs for ore prop. 40H
Gulf SS 2d pf 74H
Illinois Cent 101
lnt Agricultural 15
Int Agricultural pr 50)i
lnt luirv N J 112
Int Con Cor v t c sh. . 10'i
Irtt Con Corpn pf 75
lnt Paper pf 47)i
Insp Con Cop 44JJ
Int Nickel v t cfs 4014
Int M M cof dp 2.V4
Int M M pre or dp. .. 014
Jesel Tea 02
Kan City Southern 2.Vf
Kan City South pf. ... 00
Kay.NCr J A Co 82
Kelly Spring Tire 72H
Kennecotl Copper f.O'i
Lack Steel Co 0014
Lake Krlo A West 10
Lake Kilo A W pr. ... 32
Lehigh alley 7SH
Leo Ilubber Tire 49
Lone Island 2S
Lotlllard P Co
Louis A Nah. . . H1.
Manhat Shirt Co. . .
Mm, ell Motors i-2'i
Max Motors 1st pf. ... SO
Max Motors 2d pf. ... 57!
May Dcpt Stores 00
May Dcpt Stores pf. . . 104
Mexican Petroleum 107
Mcx Petroleum pf 0735
Miami Copper 304
Minn ASt'Louls 6)4'
Minn St P A S S M
Mo Kan A Texas 4
Mo Kan A Tex pf 10)5
Missouri Pacific OH
Mo Pac tr crs 0)5
Nat Ulscult pf 125
Nat Cloak A Suit 71H
Nat Knam AS Co.... 23)5
Nat I-ead Co f,0
Ncv Con Cop 17JJ
New Vork Ar llrake. .134'f
New York Dock 10
N V U A II It 105
N Y N II A II 50
N Y CM A St I. 38H
N Y O A St L2d pf...5S
M u s nn 'livx
18
6' 5
13! i
3'i
62' i
45
107?4'
451
117
78' f
nun
4S)
22'X
116
62)4
274'
5H
12l
30H
52)i
45
231
115
o-JH
28
6)5
13H
30 3 1
52' I
A
16.)i' 107)4
440 451
110)4 117
S'
00' 4
48)5
01)
48'
120? 5 119) ISO1
41U 40H 4IH
75 74! a 75
IUD4' 102
15
60)4
112
17
10J
15
50)5
112
17
1
50.H
112
17
47
45!.'
40'.'
20' J
OIU
03
20'i
01)
S3
74H
6.?
71
13 a
30
70
5T
20' i
47
444
40
25'.'
01?(
00
20
00
S3
73
mi
00'.'
13
30
7S'5
40'.
20H
1.1
47
45'.'
40'i
?54'
02 '
01 H
20
00
8:1
7-W
COH
70H
13!n
30
70
50
20)4
19SH 202 198)4 202
127'.' 127H 127'f 127)4
01!
84 'i
88
58'.'
04'.-
10V
02
82H
S0'
57) i
00.H
105
100H 105W 105
07!., 07).' 97H
aavy 3f,ij
0 0
c:
83' 1 ;
87)
67' i
KM
10H
110)5 120'X 118
Norfolk A Western. .124
Norfolk A West pf.
North American
Northern Paclllc
Ontario Silver Mln.
Pennsylvania It It. .
TeopLN Gas Chi
Peoria A Eastern. .
Philadelphia Co ... .
Pltb Coal Co N J.
Pitts Coal N J pf. .
Pitts C C A St L. .
Pressed ti Car Co.
PubS Corp N J..
Ity Steel Sp Co....
Itay Con Copper. . . .
Reading
Reading 2d pf
Republic Iron A K.
8t L A 8 V 2d pf. .
Seaboard Air Line. .
Seaboard Air I. pf. .
Sears R09 A Co,,,..
Shat Arte Cop
Sloss-Shef S A I...
87
00! i
I
n
7
OH
129H
73
24
0(1
17H
134)5
9U
100
0235
un
to 27H
124H
87!4
6955
4
11
0
0
lfi)4
6
120'J
I
II
OH
'!.
!2'H 129,
73
2)
CO
17H
134
OH
73
24
(10
17?.'
134W
OH
104H 105)i
50H 02
38H
5S
27)i
124
87)4
(9!i
41H
CO
27H
124.H
87)n
09! i
.U2J5 113 11235 112)4
1(1
. 50
101H
.. 0
. 4014
7?.'
10
50' i
101H
11
41H
27H
10
50H
101','
11
41)5
10
50)5
101H
11
4IJ5
.103)5 103H 1K1U
103H
81
47
80 Kl K'l-i
.... 40H 47 47
....I29H 129H i:!4 12915
.... 42H 43H 42)4 43
2ii j
'.'.'.'. 8SH 8935
.... IOH 40
.. 4H 47)5
.. 3U 3H
.. 10 17K
.. 37 nssr
..164 188
., 32H 33
55lf 50V4
223
22H
84J
40
4834
3H
10H
3735
181
32H
50)4
223
118
0734
21 W
c:
22H
8SJJ
40
47M
3!f
17
3S)4
185.H
32H
50K
118
08
22
62)f
10134 102H
OOJi 00J5
13134 134
45H I5)X
193
UK
08 OSJf
5! 5 SH
30 30
92H 04H
DO 59
South Porto H Sue.. ..220
South P RSU2 pf 117H 118
6out hern Pacific 0734 08.H
Southern Ity 215 223f
Eouthern Ry pf 0 IH 02.H
Standanl Milling 10235 103
Standard MllUns pf. . . 90 00!,'
Studebaker Co 132 135
Tenn Copper..,,, 45H 45H
Texas Co ,,..I91W 102H 19U'
Texas Pacific I0.H 11H II
Under Typewr ...10334 C83J
Union Bag & Paper.., 5H 634
Union Bag A P pf . . . , 30 30
United Clear Stores.,, 02Vf 04! f
United Cigar Mfrs. . . , 60H 59H
Union, Pacific 135H 135J4 135H 135)4
umoui'Uiup(.i..t.')t o.u Kttt B2ri
U Ind Alcohol 147H 151 14734 151
U S led Alco pf....... 101)5 105 105 105
USCIP1F IOH 20 10H 20
United Krult ..ICOH 102H 160H leo).'
United Rys Inr Co.... IOH IOH 10!( 10.H
Un Rys Inr Co pf.,.. 23)5 23)4 '23)4 23-a
U 8 Rubber 513 503 i 55 68)f
U S JIUboer 1st pr,,..10H IOH 108 108
U B Steel Corcn 83H S4H 8'Mi 83H
US Steel Corpn p....116H UOH 116H 110)5
USfim It A M....... 76 7835 76 704
UBStq R A M pf.... 51H 51).' 51K fil)(
US Express 47 47 47 47
Utah Copper. 70H bO 80 0
UUh Securities 17)f 17)4 17)4 1734
Va-Caro Chem 42 42)f 42H 42H
Wabash Uii 14H U34 143f
Wabash pf A., 48 4S34 48- 48)4
Wabash, pf B-, 27H 28H 28 28H
West K 4 11 69H 62H 60 62H
West Union Tel 0U 02H 92 0234
Western Maryland 30H 31H 31 31),
WOlys Overland 247 20334 244 260
WUlya Or pf s r r p. . .101)5 105)4 104H 105)4
Wiscoiula Central 37 38 38 38
-.poiworU. K W J373S 139H 137 137
Ouotea u aiviaena.
-Total tale. 6S1.SOA shares, rotnoareJ with
434 uO cliarea eterdy( liius far tills wak,
2.357. 40 cluurMi una jierlmi lit vnnh. .U0..
669 iijiWif
FRANCE WANTS
LOAN OF BONDS
TO HELP 'CHANGE
v
Scheme Includes Neutral
Issues, Excepting Those
of United States
BORROWING FOR VA YEAR
Government to Give Receipt
Negotiable on the
Bourse
Sales in Philadelphia
By YVES GUYOT
Kx-Mlnlster of Tub'lc Work. Editor IAaence
Dconomlquo et Financiers
Sptclat Cable to Evening ttiotr
PAIUS, Mny 11. Tho Minister of
Finance tins asked the holders of bondl
nf neutral countries to lend them to the
State In order to help regulate exchnnRe
Thopo who lend nccurlttcs do not lose the
bonent of ownership, ns a receipt will he
Riven which will be negotlablo on the
tlourse and enable the securities to br
traded In Under tho reservation that the
nctual paper Is to remain In tho control
of the State.
Loans to the State aro to bo mad'
for a year, with power to continue from
year to year for three years.
If tho State Judges It necessary to sell
the securities tho owner wilt ba paid nc
cording to tho list of quotations the Gov
ernment will publish, or at the option of
tho owner ot tho highest price of the
preceding three monlhs.
To pay for co-operation tho Government
will add one month to the annual divi
dends tho owners of tho securities receive.
, In this scheme the United Stntes Is left
out. the securities Included being thoso of
Spain. Switzerland, Holland, tho Scan
dinavian countries, Uruguay, Iiraxll, Ar
gentlna and Quebec.
Transactions on the Botirso nrc very
active.
The Rank of France nas lost 1 18,000,
OOO of gold, reducing Its stock to $300,
000.000 but there has been no addition
lo Its loans to the State or to the note
Issue
VIGOROUS BUYING
IN CURB ISSUES
Chevrolet and Atlantic Gulf
and West Indies Sell at
" New High Marks
.VfclW VOHK, May 12. There was a
substantial broadening of speculative In
terest on the Broad Street Curb todny
"which was reflected In vigorous buying
in numerous Issues. New high records
were made in two slocks. Chevrolet ad
vancing to 215, and Atlantic, Gulf and
West Indies advancing to 47.
Tho Independent oil stocks were among
the most prominent features, with Metro
politan Petroleum tho most active In this
group, advancing from 22 '.1 to aboyo 24.
This movement was accompanied by re
ports of coming Important developments
nnd was also helped by oOlclal advices
to the effect that conditions nt tho com
pany's Mexican plants aro wholly satis
factory, both ns regards health and the
nolltical outlook. It was slated positively
that there has been "no uneasiness in con
nection with tho tense sltuntton on the
Itlo Grande border.
United Western Oil was one of the
strong features, selling at l'i and 1.
Sinclair Oil was actively traded In at
48U to 484 and Oklahoma Producing was
traded In at 734 nnd "U. The old time
fnvorites. Including Mldvale Steel and
Cuba Cano Sugar, were comparatively
nulet, tho dealings In those Issues being
on an unusually small scale.
Lynn Phonograph, which Is to he
merged Into the Flemish Lynn Consolida
tion, sold nt 10 and 10?i . There was
active trading In Kresge Stores, which
roso from 12 U to 13 'i . Zinc Concentrat
ing ranged from CU to 4.
Driggs-Seabury dropped from 137 to 133.
Aetna Explosives declined from 18'.i to
17'i. Chesapeake and Ohio new bonds
were stronger selling at 94'i and 04',i.
St. Louis and San Francisco new 4's sold
nt 70 and COVi arid thoG'n sold at 71.
INDUSTRIALS.
AtiB Explosives ISVi
Hlwnlohr Tobacco IT
do prrf BS
AJajt nuubor Tiro 01
Am llrltlsh Mfs IS
Am Marconi .- a
Atlantic Gulf W I 4
do pref -
Canadian Car Co 711
do pret X-
C.hevrolet Jlmorn '-M
Cuba Cune Kuztir 01. 4
Curtlsa Aeroplane 4S
DrlRns-Sfabury 133
Kmorscn lnonosnuh 1U
Haskell 4 llnrRef 3J
Ilendra .lira Co ST.,
Inter Mer Marino -'I',
Inter Mcr Mnrlna pref 03
Kathodlon llronze pref "1 ,
Maxim Munitions t:
.Manbnttan Transit 1J)
Midvnltt Steel r.OH
Otis Elevator '
Peerless Motora 23
Voole 1:111; US
H S Kroaee w 1 IIS
Standard Motora S
flubmartn lloat r Soli
Trlancl- Film 4
United Prortt Hharinx lr.-10
U a Llaht & Heat 3
do pfd 4
White Motora 48
World Film 1
STANDARD OIL STOCKS.
Illinois , 172
Ohio ; 23U
Prairie Plpa 'J12
S O of California 24.1
B O of New Jersey .' B18
H O of New York 208
OTHER OIL STOCKS.
Coaden Oil 2314
unuimers v11
Inter Petroleum , , , , ,
Houston Oil
Midwest Refining-
Sinclair Oil
Sapulpa Oil ,
Harnett Oil & Gaa ..)
18
4SU
210
23
8
20
118
48H
41J
MI.NIKO STOCKS,
Atlanta ,
Uutte Copper , ,
llutta New York
Cerro do Pasco
First National,..,.
Goldfleld Merger
llecla Mining ,
Ilowe Sound .
Jlrh Uutler. .
J umbo Extension
Kenoflck Zinc
McKlnley Darraih, ..... ...,..,
Magma Copper..,.,...
Mines Co ot America
Nlplaalns
San Toy....... ,,...,
Ht Joaeoh L.ead..
West llnd Cons.
Cerrc, Oa
S 4 O S),
Mldvale Ss
Bx dividend.
BONDS.
. 13
: K
. 3T
. &
!?
a
, A.I
;3
, lK
I'oiu
IS
38
p
5t
11-32
H'i
08
IT
lOti
1 1-10
il"..
P4
lit
9fA
Large Equipment Orders
. NEW YORK.ilay 12, Equipment or
ders aggregating 14 locomotives, 300
freleht and 40 to 60 passenger cars are
reported today and pew Inquiries cover
146 locomotives, 21E0 freight and 20 pas
senger cars. Tho Ihlgh Valley Railroad
Is inquiring for 40 locomotives, 1
French flentea Unchanged
PAIUS, May 12 Three per cent
rentes 63 francs, unchanged. Exchange
on London 28 francs, 29 Me. unchanged.
SPECIAL alKKTlJ.08.
wr .TUB UANHKJJl UUILD1NU AVii
TOWN.M-HILADELTHL.. utUMAJ.-
A special mf'-'!! o' ." stockholder of this
Asaoclatlon will ba held at th OOlca of thi
Aaaociattoo. at tb aauthweac earner of Coul
ter at. and Gerraaatowa avs.. on ThuraXir
acttoo. pn pprovt or dlMpproval of the pro
poses, wcrw" ..'?
AMQCtotloa freu II OOO
LHA
WILLIAM &
32
i
I no
n
20
6
1
.73
BO
3
14
. to
1330
40
no
13
111
183
112
snn
t
140
41)7
43
Ron
.'"
Mr.
200
IMS
nu
3
87T4
S3
21)
in'
40
III
:'
ii
no
B3
37
32
71.
2()il
11)1)0
lllllll
1101)0
3"00
6000
inno
IIMIUD
tooo
1DUO
400
Shoo
01 001)
loon
2B0(
HUH)
2000
Alliance Ins.
Am rifts
Am Mllllnit... ,7,
Am Uy prd. . 0?''
Ilald Loco ...
litirr A Rtia t e
do pfd .... B?
Crucible Btl. . 81
Klec stor ..
I)lst Beo . .
Krlo 1
Uen Asphalt
do nref . ,
ln Co N.Am 23
lnt M .11 I c. 2nw
Lit Sup Corp. PJfc
Irfh Nav ... 74)1
Ih Vnl .... 7SH
L V TT pr . 43.
Mlnehlll .... B7U
Mnxwcll Mot. 84
North Penna, t)4
rennn lilt ... anu
Pn Steel Pfd. nstt
Phtla Klrc.i 27H
V II T t c
Phil. Trite
nenmnK
80 Hwy
Ton Hal
Ton Mln .,.., ns
union true ,, i.ik
U O A 87
Un Cos N J.22.V.4
U 8 HteeL,,. 84)1
War 1 & S.,i loH
West .Ter A H 41l.
Westmnro CI., ml.
vorK nwy . . iat
do pref 3D
BONDS.
ltkh.
n,il L 1st Ss.HIIU
Catnw 1st 4s. ll7Vi
BI & Pa Tr 4s (ill.
Har Klec 0..ln2'i
Leh N Imp 4s 08
Lett Vnl Drex
ret. 414a ...100 4
L Val Ren. 4s, H2'i
do Bn 4'iBino'i
L V CI Bs cp.lO.-,
Pa Co tr 4Hi..lnl i
Phlla Elec 4.1. 83
do Ss 104
Head pen 4s. . IK1U
Met
1
8?
r.o
no
3,H
-1
7
D8U
Soft
SO
81
32
71
25
-!
b
'4 'ii
78ts H
tti
Klrc.i 27H
t c . 18)t
rrae ,. 7B?
r ,... 80U
. .... -ii
78'.i
ill 4.1
B7U BIU
84 84
Oft ::::;
7B 7B
(H 44 '1
VStt JjH
Net
Low. Close. ch'RP.
lOIJi 104
1)7 !i l7U .....
80. 80,, A
IIH 08
100)4 100'jk .....
lno DOti
inx i.,
101 H l'JiVi
83 83
1111 104. .....
I3J Mi .. H
102 102,,
102 102'i H
P8'4 084
104'S OI'I
Local Bid and Asked
Ilurf t Sua t c
do pr t c
Italdwln
Klec Htorairo
Uen Asp
do pref
Key Tel .'
' co t e
do prof
l.aUo Htmertor Corp. .
i.o-nisn navigation .
Ihloli Volley
Lehigh Valley Transit
do pref
Pennsylvania .......
Phlla Electric
Phlla Co
do B per cent pref. .
do 0 per rent pref. .
Phlla R T t c
Ili-.-iilInu
Tonopall Tlelmont . . .
Tnnopah Mining
Union Trne.
II Clan imp
II H Steel
Yorlt Hwy
do pref
Wm Cramp t c
TndAV.
Hid. Asked,
Yesterday.
Hid. Asked.
notf nm Bi r.2
ns on no 00
88'4 80 80 80U
BOi 00 BB 00
8iHs 33 32), 33
70' 71 Jllji 71
it)i IB 14 in
114 in I4U 10
(18 . 00 08,. ..
t)T, III II 4 I".,
71 7B 74 74'4
78'i "' tl.. V!'
21 22 21 i 22
I2! 43 -fj'i 43,
bo j ntiv no, ail)
27 27; 27 21 l
41 42 41)!! 41
38 311 OS 3n
42V4 43 42'i 43
18 18U 17 18
88, 89, 88 8S.
44 4'i IS 4i
IIU IIS 0. (!
43 43U 43J 43J4
87 87. 87 87,
83J 83fJ 83 83.
l.t'.i 134 13, 111.
33'. an 3-, no.
83 8.", 83 8IH
LOOK FOR SETTLEMENT
OF MARINE TANGLE IN WEEK
uappravai or the pro-
Acceptnble Directorate n Problem.
Announcement Soon
NEW YOnK. May 12. The belief was
expressed In well-informed circles today
that tho International Mercantile Marine
inngle will be Bettlcd within the next
week. Numerous conferences have been
held durlnff the last ten days, and efforts
ro bclnir made lo obtain a directorate
for the company that will be satisfactory
to tho varlotiB committees. While this
has required considerable discussion, It
was stated that tho matter had been vir
tually whipped Into shape for an early
public announcement.
It has been Intimated that tho new
board of directors will Include American
International Corporation interests, others
acceptable to the preferred and common
stockholders' committees and still others
acceptable to J. P. Morrran & Co,
During the last ten days some of the
members of the Old Stockholders' Com
mltteo and representatives of the Amer
ican International have conferred with the
Morgan Interests and members of the
Bondholders' Coinmltteo regarding this
phase of the situation.
Financial Briefs
The New York banks lost to the Sub
treasury yesterday $108,000 and since Fri
day $4.287,000. "
Tho maintenance of n heavy volume of
business in nit sections continues to be
indicated by record payments through
the bankS'as reflected In clearing house
exchange, the total of which this week,
according' to Dun's Review, amounted to
$3,940,487,272, an Increase of 20 per cent.
as compared with the $3,210,971,438 of
the same week last year and of 51.7 per
cent, as contrasted with the $2,507,024,631
ot the corresponding week In 1914.
Copper exports from the Atlantic ports
for the week ended May II totaled 6079
tons; since May 1, 6976 tons as compared
with 13,301 In the same period of last
year.
Chairman J. William Robins, of the
Committee to Standardize the require
ments for stock and bond transfers In this
city, has called a meeting to bo held next
Monday afternoon at the odlces of the
Pennsylvania Railroad.
The Interstate Commerce Commission
held that tho present adjustment of rates
on Inportant domestic clay to points In
Central Freight Association territory was
not discriminatory. Complaint was made
that rates on English clay transportation
from gulf ports and north Atlantic ports
to central freight territory vero lower
than the domestic rate on clay mined In
Georgia.
The Interstate Commerce Commission
will have Its representatives renew the
Investigation into 'the affairs of the Cin
cinnati, Hamilton and Dayton and the
Pere Marquette roads to learn about the
alleged Irregularities that led to the re
ceivership In 1905, It was announced today,
NEy YORK COFFEE MARKET
NEW YORK, May 12 The coffee mar
ket was steadier at, the opening this morn"
Ing and first prices showed an advance of
2 to 3 points, with sales of 2250 bags on
the can.
Yesterday's
close.
8.2DW8.31
a.oH
8. a?
8.41
8.4088.47
Today's
ninsT,
open
48.80
,,,..,,8.30
...... 8.40
,.,..., 8.4008.00
.,,.,., 8.S0
May ,,.,,.
June .......
July
Ausust, ....
Heptember
October ...
Novemoer i---
December ;.8.60
January '....
February
March 8,78
April
Hid.
Tut a I sales. 2000 bass.
8.33
8.Sn
8.4a
8.B0&8.M
K.B4 98.B.1
IV
8,
8.87 Q 8.011
n.ian,l
B..7
njws.nu
A28.AI
8.78
DIVIDENDS DECLARED
Underwood Typewriter Company, regular
quarterly lli par cent, pn preferred and I par
cnt. on common, payable July 1 to stock of
record June 20.
West i'hiladslphta. Tills and Trust Company,
regular semiannual 6 per cent., payable June
1 to stock ot record at the oJon of buslneaa
May 20. r
Sapulpa Beflnln Company, monthly lft per
cant, on common, payable June 1 to stock of
record May 20.
Norfolk Hallway and Light Company, re.
ular semiannual 8. per cent., payable June 1
a registered May 10. Book do not close.
prvmKXPS
IUBJX OIL AND MH COJIPANV
1BSU Commercial Trust Uulldinc
Philadelphia. Va May . law.
The Board of Directors hayo thla day.de
eland a regular monthly dividend of one-balf
oT 1 per cent. 4nd uk extra dividend of one
hill of one per (.. piyable Slar y. Mia. to
Stocgloldew et record ujfliKK
Treasurer.
ISfcv
CHAKf.slS HT 1
TIVlSV-Kfl SoitetU.
4"rtMet rMie- Atfmtk ta nr
IMPROVEMENT SHOWN IN EMRAi
SITUATION IN tL S. AND OANA
Net Surplus of Idle Cars on May 1, 30,607, Againa,!!
on First of April Trading on Local Stock i
,. -P- M.'X"
Mtallrond embargo conditions In the
United Stales and Canada have Improved
at it rapid rato during the list m"th
according to the American Hal way As
soclatlons monthly report of Idle freight
cars for April. . , ,
On May 1 there was a net surplus of
30,607 Idle cars, as compared with 3650
at the end of March, and a net shortago
of 80,661 at the end of February, when
the congestion of freight trnillo was nt
Its worst.
Owlnir to the conditions at that lime,
the railroads, Bhlppers nnd buyers be
gan n. campaign of co-operation which,
the figures Indicate, has been successful.
On May 1 the total surplus wa3 59,667,
njralnst 48,921 the month previous, while
the shortago stood ot 59,050, compared with
43,271 on April L Tho net shortago of
ho: cars tho first of the current month was
f2267, whllo the month before It was 19,609,
Tho net surplus or coal cars increased,
however, from 4977 to 13,676; flat cars
decreased from 3716 to 2680.
During tho year there has been a
marked Improvement In ttalTic conditions,
with tho surplus of Idle cars on May 1,
1916, of 291,303.
na la tti.ilAlj
. u.nii:u Wlieit rMHh.4L 1
T,'"Bnteu!
redemption of V OOO.S 0 71
year convertible w.. "ii r enl S
Company. They will L i,.iiUI" rf
nm iihj i .'"'." " Pala off ti ft
showed little ImmvJm'fMliS
ours, uniy a few sales ."
inn prices, wsre itoady. p.ni..lul1
United Btates Stbel commo JM,1
fraction. American"1 Xfiffl
finance insurance sold at uu 9m
and a new low for the year tL'I
of Norrlstown sold at H3 an TJ'Wl
I point over the last UlBafe.8
Susquehanna, Klectrlc st,irt.JWJ:U
nna I'lilladelphla Electric .r'." ?.'?
"S&l ft"- ln"
nnd Tonopah Belmont solS unchanLi
FIVE COMPANIES IKGLDDEI)
IN AUTO PARTS MERGER
Subscriptions in Excess of $60,000,000
for United Motors
NEW YORK. Mny 12. When the at
tention of W. C. Durant, president of the
Chevrolet Motor Company, was called to
day to the announcement of the formation
of a new company to be known ns the
United Motors Corporation, for the pur
pose of nbsorblnp several companies en
gaged In the manufacture of atlto parts,
he authorized the following statement:
"The United Motors Corporation, to un
derwrite tho stock of which a syndicate
In now forming, will be a holding corpora
tion owning securities of flvo of tho lend
ing accessory manufacturers of the coun
try, each of which la making a standard
product In Its line
"Tho new company Is Incorporated un
der the laws of N'7 York Slnte and
will have an authorized capitalization of
1.200,000 shares, no par value. It Is stated
that subscriptions to tho underwriting In
excess of $60,000,000 have nlrcady been
received.
"Tho company Is being financed by L.
G, Knufman, president of the Chatham
and Phoenix National Bank. The bank
ing houses of Issuo aro Domlnlck & Dom
Inlck nnd .1. H. Oachn A Co., of New York,
and W. W. I,alrd, of Wilmington. Del. Tho
companies to be Included In thoVcom
blnntlon aro the Dayton Engineering La
boratories Company, the Hyatt ltoller
Bearing Company, the New Departure
Manufacturing Company, tho Iteamy Elec
tric Company and the Perlmnn Rim Cor
poration. "It can be officially announced that the
five subsid'ary companion will be onorntiHl
individually as hcretoforo and the per
sonnel of olllcers nnd vorklng forces will
continue unchanged.
"No company loses Its Identity nnd the
management of each remains in the same
hands which havo successfully developed
it to date."
FOREIGN EXCHANGE
NEW YORK. May 12. Tho market for
foreign exchange In the first hour of busi
ness today was quiet, with an average of
strength In some rlapses, while sterling
was not appreciably affected by gold ar
rivals. Relchsmnrks wero .higher, Swiss
displayed firmness and there was a dis
play of Btrength In Italian exchange.
Quotations follow: Demand sterling,
4.75 9-lu(ip4.7or'i; cables. 4.76 716; franc
cables, 3,9.11,6; checks, 3.91 ifc: relchsmnrks,
771i0779i; Ilro cables, 6.29; checks. 6.S0;
Swiss cables. r.!9',j: checks, 3.20 y3;
Vienna, 13.60013.65; Scandinavian, 31
31.23; pesetas, 19.70 19.73; guilders, 41 i
0 41: rubles, 30if!30Ts-
In the afternoon the feature of tho mar
ket was strength In guilders, which were
quoted up to 41. This Is the highest
figure recently, although this class of ex
change on the entire movement was higher
several weeks ago, ciosslng 42. Notwith
standing the gold Importation from Can
ada for the nccount of tho British Gov
ernment sterling was quiet and "hot quot
ably changed at 4.759S for demand and
4.76 7-16 for cables. Francs weie un
changed nt 6.93 for cables and 5.04 'i
for checks. Relchsmarks were 77 and
77.
COTTON MARKET STRAW.
WALL STREET hoijses BtS
Liverpool Sells July-No Relief Fr
urought
NEW YORK. Mny 1 2.The ,, J
kct this morning oncne.1 i.. .... . i!
months unchanged and distant wniSf
itmvn n In r. )..... m, . ... '-'U0JI,
was less pronounced, and those hq &
seemed Indifferent to VZsSS
nf nn nnttvr, rrm. -.4 1.. .gfrMaltMt.
.1000 to 1000 ba... Vf V.;,
concessions. "',1
AVall street houses were buyeri M
there were purchnses for what nt&
1 laved to be Western account. UrmiS
sold July, nnd the supply, with 6n VlB
exceptions, was neutered. After the !i
the market held well. ' l
Trading was less active during thtJ
hour, but after reactions of 4 to SMM
....... ... ,sh unuvr realizing prices
"uJi .iuij- nciu nn advance of
nolnt.q. wIiIIa fl,o .., A.n -..,..
or two oyer Inst night's closing flS
Bcpons from Opelllta, Ala., saji iUu&
cotton crop never looked wnr. .. :uH
season of the yeur tu that sectloiisiH
stands are poor nnd seed is not gerinlMt.T
iiib, 'am
A private cabla stated that th mifw
for nearby positions had been htlXv
check by the bullish statistics for Llto?
iwui ,mu nu uriiro spot nonittnd. Theif
haa been no relief from the drought yA&a
. U(.L.iib unuttuj every couon SUtti
alaslppl, according to private .report
iviiijv4tnun.;i iycio luwer in me tst;n
efA.t1trt maal
Onen.
i.i.oi)
! RT.
l&tll'liUlF'
1304 'lltlf
IJ.ii U.-V
1J.UI llfl)
.... 11H
,8 WatfS
shttB
I a wlt
r flm,H.rjn
Afarclt
.Mny
July
Ootolicr
Decttinher
January
Auzust
Spot
Yes. rlor
.111.87
.111.!).,
.lil.1.1
.i:i.:il
.i:i.:it
.t:t.ns
.1.1.10
Hlslil
10..1II
is.k:i is. hi
IL'.B3 l.l.oa
ia.il is.Ki
13.31 1.1.37
1.1.34 i:i.t2
13.03 13.13
is
J14J -llli
1JM HM
Liverpool Cotton
LIVERPOOL. May 12. A lam' tin
ness was transacted In snot cotlon faJit!
at an acvancfof one. point on th tar&atj
8.44d for mid-upland. Tho sales werejir1
000 bales. Including 12.(100 bales- ABsrf
can. Tho Imports were 2000 baltsM;
American. Tho market for futures ocsi
quiet at a net decline of 3'.&07-
RATES FOR MONEY
Call. Time.
New York 2 li-Ji - t:lV4
Philadelphia a 3H ' 3 j4
lloatnn 3 4 I'tV.i
cnicaso amfjii 4 SuVl
Commerclnl paper, three to alx months, roil-.-lelpnlu,
33(i per rent.
Reserve Ranks' Discount Rates
10 ur Over 10 Over 30. Over 00
less. ' up tn HO. UP to '10. UP to 110,
Moston 3 3lil 4 A
New York . . 3 4 -I 4
Philadelphia. 3 4 4 4
Cleveland . .. mi 4' 4 4
lltotimond ... 4 4 . 4 4 '
Atlanta . . , . 3W 4 4 4lj
Chicago 3V4 4 4 4
St. I.ouls ... 3 4 4 4
-Minneapolis . .- 4 . 4 4H
Kansas City.. 3'i, Hi V.i 4(3
Dallas 4 4
San Kranclsco 3 ( 3i 4 4s
Unston
New York
Philadelphia,
Cleveland .
Illchmond .
Atlanta ...
Chicago , .
St. . 1-oul ,
Minneapolis.
Kansas city
Dallas
San Pranctsco OVs
Asrlcul. Trade arcentancea. Com.
Over 00. Up tn BO. CO tn 00. modlty.
SH Ml
r
4
B
S
,n
a
s
s
3
.Hi
if,
at.
n
a
3
4
4
3V4
3i
3
3',i
Commercial nanep. 3 in a mnnlni Thlluriul.
phla, 3USVi per cent.
Up to 30 dajs, ocr 30 to 00. 4 per rent.;
over CO to 00, 4Vi per cent., and over DO, o
per cent.
BANK CLEARINGS
Bank cleartnca today compared with corresponding-
day last two yeara:
1010. 1015. ' 1014.
Phlla . . . 3S.L'2.1,334 2:.8UD.IM8 S24.H.iS,L0.1
jlo.ton ... 33.004,872 20,480.007 '20.018 707
New York, 441, h-.'U, 11)4 314,878.307 I8l.027.J07
chlcneu, 0.t,32.ul3 4i).bi,vj4 ai'iilu'-.-ua
St. Louts., 10,902,034 13.068,404 13.14U.7UU
General Electric Cd,f
Five Per Cent, i
Gold Debenture Bonds
Listed on the New York aria
Boston Stock Exchanges:
Tho General Electric Com-$
pany does the lareest bust- , j
ness of Its kind In he United .J
States. It supplies Publlo 5
Utility Companies with elec-
trical appliances and machln-8
ery apd does an unusually
diversified business.
Earning,) applicable to th? -J
Interest charges on the deben- J
turn bonds amount to over jj
twenty-one- times the require-
ments.
Dividends which have aver-,.
aced over 8 per annum'
have been paid on the capitsn
stoci: since too:.
Price at market.
Send for Circular No. 3S2.
William P. Bonbriglit & Co., g
MORRIS WISTAR STROUD, Jr,
Manacer
437 Chestnut SI.. PhUrdelphlij
New Yorlt Ilostou Prtw
Lonilon lr'1
V'm. I'. rtnr'iHsht Co,
l'srl 3
Ponb-lita.OS
May Circular!
Municipals
Yielding 3'.80"U5
Railroads .,
Yielding 4.2358.4.95
Public Utilities
.YieldiiiR 4.937"5.7S?
Mat of a'bove bonds. IncludlW
Pennsylvania and New Jersey
Tax Exempt Issues, seni '"
quest lor circmr
PB-13.
N.W.Halaey&Ccf.
I. Chestnut St.. '"K55j,q?
PWI ," - M
14
New Vork
Ctlcago
The Morris Plan Co.
of Philadelphia
(formerly The Pennsylvania Loan Co.)
The only organization in Phila
delphia operating the Morris
Plan of Loans and Investments.
Directors:
T. a ASHTON, M. D.
S.-M. CUR WEN
F. S. EDMONDS
WM. 1. FORBES
HOWARD H. HENRY
R. LEQ HUNT
LOUIS J. KOtB
THOS. IARTNDALE
fc
ARTHUR J. MORRIS
, H. McALUlSltK
OBT. McKENTY
. n . V. . . . r
riAnni ntLNt.
THOS. NEWHALU
JOS. M. STEELE
CLARK WILLIAMS
CHARLTON YARNAU
Officers:
LOUIS J. KOLB, President
HOWARD H. HENRY R. LEO HUNT
Vice President V. P. & Tress-
OfHee$ , J5Q1 Areh Street