tH". "Rj1' -i j -i LL'hL ntsBfc fiVBina Mp0BH philadeliphia; tfjoKDAr may is, ioig. FINANCIAL NEWS' activity in Stocks diverted i to old time standard issues ?,Vaittd States Steel Common in Good Demand Reading Advances to New High Mark Plans for Capital , Readjustment Being Worked Out New York Stock Sated, ? V 4 .. .... t n.. birir .. 9H o n) ml Alaska J CblTXr . . 9M AiasM new Mines 23 J j vms-inaimers .mic... ., zs 28H MM 71M 73M Z3H 28 83M 70H 73 67M 110 01 Z3M 28 84 71 73 mi 111 01H m. in: v & Pozifs n Todayl8 Financial News ' Philadelphia bank statement showed increase of $2,633,000 in surplus M efc and decrease of (58,000 in loans. Willys-Overland management con Meeftnp cutting pat Maine of common stock from $100 to $SS a share. Suit restrain sale of Pennsylvania Steel to the Bethlehem Steel Corporation postponed until next Monday. Philadelphia and Western April earnings . Price of bar silver slightly lower in New York and London. NEW YOKK. May 15. , The new week started with the evidence' of the solid character of the market Kfch made It give full response to bullish factors and to Increased Investment nnd w ,B0eculatlve Interest. I One of the best features of today's trading was the diversion of activity to the M-time standard Issues. United States Steel common was bought as It used to Mn Mocks of 6000 and 10,000 shares on single orders making an advnnco of ' 'fetore' than 2 points and showing such vigor that thoso seeking for a reason again fctpught up possibilities of a dividend Increase In tho stock, which Is now paying I per cent, and showing earnings or close to 30 per cent. These rumors were hardly cessary to account for Us rise to above 85. ' Thero was concentrated buying of Reading of tho samo character ns that which taUaed the advanco In the United States Steel common, nnd tho strength In theso two stocks was supplemented by upturns of around 2 points In such good dividend paying stocks as Baltimore and Ohio and Canadian 1'ncinc. 1 Union Pacific was In too scant supply to be Included In the speculative field. t jft was wanted In largo amounts at an ndvonco of about 1 point and only n few of the buying orders on that movement could bo filled. The greatest gain of tho d.iy l;Was In Willys-Overland, which rose 10 points to tho new high record of 274. Wnr- 't er stocks made good gains, and, like the motor Issues, buying In these stocks was , Msed to a largo extent on knowledge of substantial new war orders. i In leading financial quarters most attention Is now devoted to Heading. Ac- -cumulation of that stock has been persistent by representatives hero of Important Philadelphia interests, the First National Bank party nnd also by Daniel G. Held and his associates. Before the March dividend meeting was hold It was Insisted by . interests concerned In this accumulation that tho company has decided upon a readjustment of Its capitalization, but that so much had to be worked out that no announcement could be made at the meeting to be held at that time. It was then J stated however, that this announcement would come early In the summer. The general Idea based on statements made by parties closo to Heading con-. . trol is that it Is Intended to distribute coal land certificates, perhaps representing Lehigh and Wllkos-Barrc, arrange for absorption or operation of Western Mary tend and retire the second preferred stock.. Inquiries today foiled to bring out any definite stntetnent from theso Interests, , . except that nothing could bo said about the company's plans nt present, nnd from "J this it was surmised that tho plans aro .hot yet In shape for an official statement to be made. ' ' It is not certain that this announcement -vill bo mado at the Juno meeting, although only a few weeks ago It was nssorted that the plan3 of the company would ,ke given out when tho directors met in Juno to act on tho dividend. It is, however, ttated positively that tho matter will be consummated before the end of tho year. In today's trading, which carried tho price up to a new high record, the stock crossing 92, there was again buying by Strong, Sturgis & Co., who were nmong the heaviest buyers on Saturday, but there was tho usual trailing by traders and com Mission houses, with tho West buying a good deal of stock around 32. All through the movement from 82 this outside buying has been looked on with disfavor by those concerned in accumulating the stock, and whenever it occurred steps were taken to shake out what tho important buyers regard as nn undesirable following. . ,Thls may happen after today's movement. Another new ton, was mado in tho afternoon. WHIys-Overlnnd Considering Reduction of Par Value of Common Stock VNEW YORK. May 15. Tho management of tho Willys-Overland Company now baa under consideration plans calling for the reduction of tho par value of the company's stock from $100 to 2S a share. This action Is to bo token. It Is stated, because of the high price at which tho present common stock Is selling, it being realized that a lower par value, thereby increasing tho number of tho shares out- (jtandlng, will popularize trading In tho Issue. Expectations are that the company In July will pay a somewhat higher cash dividend and also an extra stock dividend on Us common stock. The rate now being paid on tho common is 5 per cent, roe- -- alar, although in '1815 an extra 5 per icent. was paid In stock. 'CHANGE ACTIVITY RESTRICTS CURB ' Notwithstanding Irregularity, Many Issues Show Strength. - New High for Chevrolet . NEW YOnK, May J 5. The Increased r activity and broader demand for stocks on ,;k,the New York Stock Exchange hnd a re strictive. Influence on eonernl trading on- thesBroad street Curb, resulting from th diversion of speculative-Interest to the Is sues traded In on. the boa d. This caused Irregular movements In the out side market, but many Issues there showed pronounced strength, with Chevrolet Motor movinff up to the new high hecord of 228, The new motor supply consolidation organ Company, was forced Into prominence by manipulative orders, on which the Block grew in its Initial trading from C7 to It, but quickly reacted to 66. Widvale Steel was directly Influenced by a. disposition to trade In important Issues and advanced 6 J to 64 , the movement be Imf helped,by the strength In United States -Steel on the Exchange. Metropolitan Pe troleum held first place in the Indepndent oil Issues, ranging from 23 to 24. Okla homa. Producing was also strong but in cant supply, with sales at 7H. Triangle Film was pressed for sale with out any new special reason, declining from tf to 3. World Film sold at 1. Lynn n JPhonoeraph continued steady, with sales at , iOK to IQH. Zlno Concentrating sold at i'.i and 5, Peerless Motor was exception ally weak, dropping from 24 to 22, INDUSTRIALS. , Ajtna "Kplo.lv mi" A"jH't - Am Marconi . . ,,,. 3 nt 'Mi Quit w i :;:;:::::::::::::: 4 s CnndUn Cur Co .,, H' 72 79 C;n dar Fdy pfd 1.'.. "."I : M "1 ffbnvrokt Motors , 221 joj - Cuba Cn Busar ..,....,, ni; 111U ortJaa Aaropune .,....,, -48 B.I jl.8bury .., ....ISO Jin l-eiilohr Tobacco ,.,, 47 no IW nrfl . .. ,117 nil Burton i-nonorrapn lit aK alfKtfli A liArutii- L.r. A4LT i ' cod Manufarturlnr. . ?1 m str Merchant Marine, ,.,, 26 2T &4tr Merchant Uarfnti nM . at uv (athodloa Bronze pref ...,,....,, , 21 "3 HdvalA Hteel .... m i? foua .Klerator .'..'.. 5!i b3 eerltaa Mntora 21 23 "SHr Enln , 00 no B Knm w I it nit Standard Motor it UVW IW ...... t TrlsusU Film,. . . , United Profit Sharlna- ,.,.,. ? ij q uifi-qi neat ,., 2i 11 8 Ushl a Heat prt Whl Motora '.'.. SIM TVoridJ- Film , 1 , STANDARD OIL STOCKS. mlnola .172 oi? , -.- S30 Frame Pine 212 Standard Oil California , 243 ftandard Otl Nev Jeracy ........SIS ailndard Oil New York.....:... .207 oriien oil stocks. CCin OH .,-.. 22K Chilmira Oil 4 bter Petrol ...,,.,,..,..,.,,,., 10H Mueten All ,....,.,... 18 Bduut Reilnlnc , 67 fc-BUlya Rtflnlns ,....,... J1H MINING STOCKS, UIajt Jl iirtie Capper Zlno '. 7U t M r. ,, ,,.,. 2 to- aa t-aacn B : national .,. a q Merger II Am. Minlila- 4U w Souud ffU jtier 1 ,". -. "?.. ins 13 CanrAT Illti Co c( Atnerlc-a ,., 3 in IK "fax IS , Jowch Li4 1H A w r SS Si k m New York Bond Sales Hlah. . U7U os? .losW . 112 .1014 ii.ts . 02' . B.T .103 .mill Hit let 4s . Dili n-jv. DM, , ,""''! Amcr Cotton Oil n Boon Amer Smelt 8fc 0s 7000 Amer Tel clt 4a . . . inno ,1b conv 4 BOO do ct 4V4 1000 Armour Co 4H 11 . . . L'um Atchison Ken 4s . . . 8000 do adj 4s 30O0 do cv 4s 10.13 . . . 710O0 do 10(10 7000 do cv fia 1H17 . . . Bono Atl Knnx It 1'in 4 1000 Atlan Co Line 1st 4a mint iiait & unto 4s 43300 da cv JUi . 12000 Halt &' Oh o Sa 100U 2000 Ueth Steel 1st 3s . . . 10.1 17000 do rfd 3s inul noon Cai q j k 5 ass 30000 Can Oov ."a w I 102(1 . tio'i 11000 do 1931 OD'4 3000 Cent Leather 1st Sa . .1014 1000 Cent R R N J B 117'.i 300 Chill Corner 7a 131 30011 Chea Ohio 3s 103 1000 Chi Ot West 4a 71 2000 Chi & Nwn 34a Si 0000 Chi U t Q Joint 4a... II8U 32000 O M & St P cv 3s 107 10000 C M A St P CV 4HB..100S 2000 Chi Rwy 8a tti SOO0 Chinese Oov Huk 5a.. 724 11000 Pol .Midland ft 4a h(5 -i.iumi uei & itua ennv -la. .'.000 Don Rio Or 3s, . 3000 Detroit United 44 a 13000 DIs Secur Corn 3s. 3000 Krle conv 4s Her A.. 704 lfnoo Erie conv 4s ser II.. 774 1000 Erie prior 4s 834 114000 Erie conv 4s Per D wl 87 24000 Hud & Man rfd 3s . . 70'i loon in Cent 4s 1032 M) 7000 da in3 814 3IUU) Interb .Met 44 s 734 0.1000 Int M M ct 44 a M2! 2000 Jap new 44 s 844 3000 I.icka Steel 3a 1023.. lin'I 2000 Lncka Steel 3s 1030.. HI 10011 LIB & M T fia 123 lonn Iirlllard .la 12.1 iihhi jio Kan ana T 1st 4a. 7.1 Low. 1)74 10H4 02 1014 107 034 D2t 85 103 104 lniu Sll 1)14 014 0.1 IJ 1004 10.14 101 084 uo4 00. 1014 1174 Lit 10.1 71 814 084 1004 1 ion1). nil4 iniZ Close. 074 0.14 10S4 02 1014 107 034 02T4 .1 10.1 104'i 1014 811 014 021j 93 loou 1034 101H 084 004 004 1014 H74 1.11 101 71 8i v: DH4 107 1004 II 04 7B4 8I4 7 75g k'r 74 81 7(14 704 774 8.14 8114 70 80 8.14 10' H4K 411 . 47 . 40 . 4T .11(4 . 014 . 0:14 .100 . 004 .1024 II(T 084 ?a. nn: (in nnv; el 8a D'lji 004 004 1048. UU 00 Ml S f44 oVS jnig loiJ 12000 Mo Pac 4a now do cv 3a 3000 do CV 5a ct 3000 do ct 3a 48100 N V c and II Cs.. HUM) do 4a , lOimo do 4 4a , 10000 N T City 4a 1038. fiOOO do 4a 10.10 .... 18000 do 4 4a HWO .1000 do 4 4a 100.1 .... 8000 do 4 4s 1004 . .. 13000 do 4 4a 100.1 .. 1300(1 N Y Tel lien (Ui . 10000 Norf and IVeat cv 4a 1"! .ifi... .inr r&o prior -is, ..... !'. lflO(HI do een Sa lim! fl.lf. P..IA. .ri K. I....? ihhi renna 4s 1' 4000 da E.n ct 3(MM) do en 44a.,.; 10.1 2000 Publlo Berv N J 6a,. . 02 outHj iteaainff sen -la,..,,. 11000 Itep Ir A 8 6a. .,..,, 30000 Rorlc Island rfd 4s... Itioon do Sa.,,.,.,.,.. ! 2m0(l do Be 2000(1 da ct 1 st 6a...... loon Rt Laula Swn lat 4a. 1100(1 Stand U 6a,..,,., 2000 Seaboard A L ad 6a 400A South Kail B..... .. loooo South Pac cv 4a, 3.100 do cv 3a j soon do rM 4a... ... ,, no jhumi Houtn itwy gen auHi nouin Jtwy con 4000 Third Ave ref 4 4000 Third Ale ndl 210OO U 8 Steel a( 6s. , ,10.14 IB00O U 8 8 R A M ()..... 112 0000 Union Pao 1st 4a,,,, 804 3000 Union Pao cv 4a,,... 024 1OO0 Onion, Pao rfd 4a!!!. BO 000 W B A M cv fia wl.,1294 1000 IVUcon Cent gen 4s . . 84 i 03 12.1 12.1 7.1 40 47 411 47 114 014 034 ion 004 102 4 107 .1024 1024 124 "( 7. Jllf Jll( I1Q1? tialL fiat' 121'' 124 024 024 7(l. 704 8.14 87 70 80 B14 iid 03 121 121 7.1 .40 47 40 47 114 4 014 IM4 ion 0!I4 102 4 IllJ B 374 nn 37 J, nn 784 784 1024 102 (14 Itn4 H'04 I0S , an nn .1044 1044 . 004 00 1 4a., , 714 714 4.:;r.:,SiI '8$ Sa.,', 7B 70 10.1 VJ 02 Mi 034 084 084 734 7S 103 lo5 128 844 Coa ile Pisco 6a A Mta is . . . 04 IJONPS. 11-18 el .OS 664 III mt NEW YORK COFFEE MARKET NEW TORK. May 1 5. The coffee market opened steady this morning and unchanged to 4. points higher, but trading was quiet and on the -call transactions amounted to only 1000 bags. Today' opening. May S.30 June , i July , 8.3808.45 August September 8.0208.53 October - 8.3508. 6Q November December B.M January 8.03 February Marco 8.76 April fIJId. Tvtal ! 1000 bags. Saturdar's close. 8,S0R8.82 8.33 8.38 8.421 8.491 S. 82 1 8.33 8.3S O.HIt a.tai 8.74 1W 8.8.1 18.40 18.44 18.30 18.34 18.57 18.60 '8.a '8.71 '8.78 8 8 1 BANK CLEARINGS Uinlr latr4.ni 4ni4a er rri nai pat rl urtlk ,. (jtiondlm; day last two years: ' ' 10IO. 'ISIS. 19U. Itertcn . . -J2I.478.M4 $22,340,735 1.39,3TB HAK SILVEB Mht a M;i4. to London today, 4 . IMrf iiBt td New Twh 'PkiwSelpbU. S2.323.Sitf 14,1'Jl. U 28,76;4St I Anil-Chal Jlfg pf . ... 82it Am Ae Chemical .... 70H Am IleclSutar. , 72H Am can . . J f,7i Am Can of liKHf ill Am Car & Fdy . . ,. 01 02 Am Coal Product .163 Am1 Coal I'roJuets ef .,117 Am Cotton Oil 63tf Am EnproM 127 Am tilde & Leather,,., OH Am Hide & li pf fil Am Ice Securities 28H Am Linseed pf , 60 Am Locomotive ,,,. 70 Am Malt Corpn 8Jf Am Malt Corpn pf...... 37H Am Smelt A Itcf. ....... nslf Am Smelt & rtef pf,. ..lliH 112 Am Smelt pf A 04J 04J Am Smelt pt I) 80H 80M Am Snuff 130 14S Am Steel Foundries 65)4 53Ji Am Sugar ncflnlnr 112H 1 1.1 )V1H lt.t Am Tel & Tel 128t 128H I28)( 128H Am Tobacco 207 203?f 2fJ3J S03H Am Woolen 45H 47f ASH 40Jf Am Woolen pf 08H l!8 08)1 08U Am Zinc li A Sra 02 Ol'f 02 02) Anaconda Cop M 84J Soli 85 80M Atch Top ASF 103M lOW 103H 104 Alch Top A 8 V pf. .. . 101 101 100), 101 All Coaat Line 110 11IH lll 111H iiaia loco Wk 8DJi HIK 8851 00!4 WHEAT IS WEAKENED BY HEAVY SEbLtNG Market Opened Strong and Prices Advanced at Start. Rains: Cause Decline "1 SaleU in Philadelphia 160! ICOtt 158J. 110H 110K nnj( 63 625f 63 129H 128)f 128X mi M 034 61 28H 49H 70H .m 37M 9SH 112 OiH 148 63 51 28)1 60 71!i 8H 37 095i 61 28)1 60 37) 09)i 112 VlH SOW 148 63! ( flRAIN BELT IVEAfllKR FOIIKCART CIlH'Ann. stny lit. The weather fere ct for SO honra .folloirai . , .... Illinois -Generally fnlr and cooler lonleht br.Tnemloy. . .lliionr!-rrlr tenlcht nnd . Toedni cooler tonifhti probably lltht froJt In outh- Veonln rartly eloTdy aonlhi nTebaMy In In the north! Tuesday, gentrnlly fair. nnfsola Haln. tonlrhtt copter Tneaday. tenerally fair with sloly riling .temper- Binres, COI tirotiAblr wet Tuesday, rnli eoolen .11 in S! onth. ..11...11 rlr nnA .vernier. nnkoln Unsettled nnd continued tonltht with rain In nnrlheastt frost nr rretlnir teninernturea In westi Tueenay. gen- eruiiy rair ami warmer. ..... .Nebraka nnd Itanena flenernllffalr la nliht. nnd.Tnesdayi rooter tonight, prob- llald 1jco Wks pf nan A Ohio. Halt A Ohio pr . Hcthtcliem Steel Brooklyn Hap Tr Hutlo A Superior Cal Petroleum . Cal retroleum pf. Canadian Pacific Central Leather . Chandler Motor .. Chcs A Ohio . . Chllo Copper . . Chlno Copper Chlcat-o Ot West Chicago Ot West pf cm aid a st Paul 107)f 100 100 109 7HU 445 80), 00 23X 61 M 170)f 54Ji 00 03! 21 MH 13Ji 38 00U . 88 803C 88)1 . . . 7m 7&H 7bi 440 4-15 445 .... SO 80)1 80 93!! 07 03)f 235! 23!1 23Jf 50 513f 51 170 177!f 170 ... 64 54tf 54 04)4 07)1 01 02S1 01 02JJ . .. 21U 21U 21)1 63'! 64)1 54 . . . 13)4 I.?), 13!f f .... 37J1 38), 38 .... 05!f 07 05! f CM M AStPpf I28H 120) 128W 120), ChlStPMAO 120 123 120 123 C C C A St I. C C 0 A St L pf . . Chi A Northwestern. Chi It I A Pac Cluett Pea A Co . .. Col Fuel A Iron .... Col A Southern Comp T Rec Co... Consolidated Gas. . 52 . 80 128 . 10'f . 73U . 43! 4 . 20)4 . 44 ..133 Continental Can 80J Corn Products Hef. Corn 1'roJ Hef pf. . . Crucible Sled Cruclblo Steel pf . . . . Delaware A Hudson... Den A lllo Or pf Distill Sec Corpn Dome, Mines DuISS A All pf Klcc StoraEO Jlat Knc Krle 1st pf Fed Mln A Sm , Fed Aim A Sm pf. ..., Gen Chemical General Electric .... General Motors General Motors pf. . 10)4 . 01 . 82)1 116 .162 . 23) i . 53 , 28 . 13 . 6S 37 . 521, 173 i 41 63 82 131 21)1 74 45)1 30 4t 131 87 20) 03'4 84' 116! j 153 24J1 54 28)4 12),' 00 38 63'! 10X 11 52)! 62)4 80 82 12031 131 20 21), 74 74 43)1 45)4 30 30 41 44 133'i 133) i 87 8 10J4 20 O.T)f 03!! 81'i" 84)4 115) 115)4 151!! 151f 3)4 23!! 63) 63!! 2S 28) j 12)i 12)4 00 00 37 37'i 523 53H 10!! 10!! 38 41 .332)4 323 3K5 325 .10S 10S'! 107!! 107)4 4G0 450)4 450)j 450)i 1131 118 11 117X Goodrich II F 77Ji 78'i 77h 78!i Goodrich 0 F pf 115), 115)4 115)4 115).' 10 40 40 OUi 1)03! 01 12034 120 120'4 42! 41!,' 42!! 74! 74'i 74W l)3!4 03)-03)4 5!! 74!s 74'j 103i 101J1 102' 10 10 57 52'i 75 74!4 17)S 10)4 155,' 403! 10 57 Grcene-Cananea 48'4 Granby Consol 01)4 Great Northern pf. .. 120 Gt No cfs for oro prop. . 41 Gulf Stales Steel . . . . 71 Guir States S 1st pf ... 01 Gulf Stales S 2d pf 74'i Illinois Cent 10li Int Agricultural . .. 15'! Int Agricultural pf ... 52 Int Harv Corpn.. . 71 Int Con Cor v t c sh .. 17 Insp Con Cop . ... 45'4 Int Nickel y t cfs ... 40'! Int M M c of dep 20 Int M M pf c of dp. . . Ol7," Ioa Central 2)4 Ioa Central pf 0 Jewel Tea 02 K C Ft S A M pt 68 Kan City Southern ... 20 Kelly Sprlne Tire 74'4 Kennecott Copper .... 50'i Lack Steel Co ... 50)4 Lake Ene A West . . . 13)4 Lake Krlo & West pf . . 30 Lee Hubber Tire 60 Lchleh Valley 70 Louis A Nash 127!! 12fl'l Mackay Cos 82)4 Si)! Manhattan Shirt Co 02 03 Mam ell Motors So!, 80)4 Max Motors 1st pf 803! 01)4 Max Motors 2d p.' .... 50)4 00 .May Dept Stores 03!4 03 Mexican Petrolcjm. .. .10014 lll'J Mex retroleum pt 073! 0; Mo Kan A Texas 4 Miami Copper 30"! Minn A St Louis 0'4 Minn St V A S S M....121 121 120)4 121 Missouri Pacific 7)1 10' i 60)4 2(1! i 02)4 4)4 10 01)j as 20)4 75H 57'i 71tj 14!t 38 50 O'l 1)1 3V 0 121 7)4 0)4 70 74H 2U4 05 681, 7)4 17J4 137 25!, 0034 4)4 10 8') OS 20 74)4 50!! 70 13!! 3S 40 703, 127!! 83)4 02!! 80)4 00H 60 03 107 07!! 4)i 30!4 0 17M 40 40)4 20 01)4 4h 10 00 OS 20 75!! 5G)4 71H 14 38 4031 70)i 120'i 83)j m 80 001 5034 03 110)1 37 0 031 0!1 70 74)4 2434 05 07 7)4 17!! 7 074 70 74)4 24!i 05 08)4 7)4 171! Mo Pac tr cfs oi Montana Poer 78 Nat Cloak A Suit 73)4 Nat Knam AS Co 21 Nat Knam A S pf 01 Nat Lead Co GfiTj Nat HjsMeot2d pf .... 0!! Nev Con Cop 1754 New York Air Brake . .133 137 1353! 130 N Y X II 4 II 03 031-5 02)1 02!! N Y C A II R 105)4 100.'! 105)1 105VS NYChlAStL 40M 40'i 401, 40!! NYOAWest 27), 27K 27H 27)4 HeW York Dock pf, 25 25 25 25 Norfolk A Western 123)1 125 124H 12434 Northern Pacific 112)4 113)4 112)4 1131 Ontario Silver Mln . . . 10H 10(4 9J4 03 Penn Railroad 50'4 57 50)4 57 Philadelphia Co 41)4 41 41 41 Pitts Coal Co N J . . . 273J 2714 271! 27)4 Pitts Coal Co N J pf. . . 1033! 103W 103W 103)4 Pittsburgh Stwl pf . . . . 03 10 ) 93 09 Pressed S Ci' C) 4714 47)! 47 47i Pub S Corp N J 13034 130)5 130) 130)4 Pullman co is'K, 101 103 103 31! 1)4 42)4 22! i 003! 40 is?; 33! 17 40 17 38)4 Quicksilver Quicksilver pf Ry Steel Sp Co Ray Con Coppor Reading Reading 2J pf Republic Iron AS Republic: Iroa A S pf. . StL AS F2dpf St Louis Southaest -. St L Southwest pf .... Seaboard Air Line Seaboard Air I. pf Sears Hoe A Co Shat Ariz Cop,...,.,.. Southern Pacific, ,,,.... Southern Ry, Southern Ry pf,.,, ... Standard Mllluis,,,. . Standard Milling pf. .. . Studebaker Co, Btudebaler Co pf.,.,.. Tehn Copper, Texas Co,.,.,, ,. Texas Pacific, Third Avenue. ....,,.. Twin City KT, 07)1 united cigar Stores. . . 07 United Cigar Mfh , 59 Union Pacific. . , Union Pacific pf.. 3)1 4 43 23)1 0234 43',' 40'! 331 4 43 23 00! i 40)4 4831 103)4 1033! 109!! 5 17 40 17M 39 3)1 4 01!,' 4634 49)4 109)1 5 17 40 17H 30 185 33 08)4 22)4 05 102)4 92J! 92J4 92K 145H 141)1 144)! 1113! 111)1 111)1 47J! 47 47J( 105 103 105 11)1 11)1 ID! 02 01)5 01)4 073! 07)1 07)1 OOH 00 06)4 60 CO CO 1353! 1363! 1354 136)1 sa, an ta 2"i 18534 185 , 3235 33)1 08 08)5 22)1 223! U34 651! 5 17 40 17)1 38)! 185 Xi 07J4 22)1 04 .103)1 1023! 102K . Dl '.im 46 102 . ID! COM UBIndAlchot .150)1 1543! 14934 154 U Bind Alcopf 105 108)4 100M 106)! USOIPir USOl P A Fpf ... United Fruit United Hyslnr Co.... U 8 Rubber U 8 Steel Corp'n . . . . US Steel Co p'n pf.,.. U 8 Sm n 4 M . Utah Copper Utah Securities Va-Caro Chera Wabash Wabash pf A Wabash pf U ... Wells "fargo Exp. . . West Unloa Tel . . West Gail.. . Western Maryland Wheel A Lake Erie Wheel A L K 1st pf Wheel A L K id pf Willys Overland WWjsOpf r (P - . WlscoeiUi Central Woolworta K W. , . WoplMHth V W, Pf 20)1 21 21 21 Sf) 50 50 fii) .160)1 104)1 161)5 161 10 101! 103! 10)5 76 8031 6534 50)1 . 83)1 853! ,1103! 117 7S 81)4 17 44)4 1431 48)1 28)5 123H 05 64)5 311 4)4 44 6 274 107 65H 56M 833( 85)1 116J! 117 toil tn 1435 4SK 2S)J 123 05)5 62)1 31)5 335 la 4)1 26 107 107 106)4 107 39 4Q. 3931 M 130 13631 133 136)5 Itiii J24( 1?W J24J1 80)4 17 43)1 14)! 43 28 123)5 1)4 03 31 f 269 81H 17 44 14!! 48)1 283! 123)! 04 63)! 31)1 r 271 CHICAGO, May IB. Liquidation weak ened tho wheat mnrlct today, and final prices were only' a little above tho lowest. Bullish enthusiasm noted on Saturday was dampened liecause of General rains In the winter and sprlne bolls nnd tho decrease In tho visible supply for the week, 1,167,000 bushels to 46,708,000 bushels, which Is smaller than had been expected. Prices moved erratically at times. Good buying was' In evidence, but theso support ers realized on subsequent rallies. There was littlo In tho public Interest In the mar ket. President drlfTln Issued a statement to the that officials of the bonrd proposed to exercise complete control over private crop experts, because of the developments for the last several years hhd Indicnted that many such authorities wero "Incompetent or worse." Tho market nt Liverpool wns dull, but stendy. Winnipeg reported that exporters were buying; there. It was estlmnted that more tHnn 1,000,000 bushels had been sold by the United States shippers. Receipts ot Interior points were large. There were further complaints of Hessian Oy In Kansas. After showing firmness on strength nt Liverpool and fears that planting In an Im portant area might bo delayed by tho wet weather, corn receded. Shorts covered, and there was talk of export business. Leading: futures ranged ns follows: Snt'dtv Wheat 0rf."'. '"B" July 1.17'i 1.17$ Sopt 1.1TH 1 17. (nrn incw ueiivj-ry - Itlth. Low. 18 Am Oa .....121 121 8 Am Hallways . 83)4 too Am Smelt . .... C9!i 10 Unlit Loco .... 89 100 Hut flup .,,,.. 9AH 100 Col P 6 I .... 44 70 Cruclblo Sleet . 84 200 Dial See . ...1 08 lee Storage , 620 Erie . ..1 ..... 83 tlcn Asoh bf..t 81 lna Co N Am,. 25U 488 Int Mar t e,... 75 do pref. . ... . 110 Key Tel Co pf. BIT f.k Sup Corp-. 853 Irfnirn nay. ,f!0 Ionian vai Inn M Cnn 100 Norf nnd West. lit H 124 i. 1 '1 Net Close. eh. 121 ..'-. 8S34 88U H 6SU 90H 4-1)4 89 89 1H D6H OOU 2H 44 44 H 83H 8334 4-2H St 84 B" 01 80 01 1 38 STU 88 . 1 71 T0!1 71 23)4 2B)i 34 28 234 20V ' l2W 02 02 H D2H 02 02 J 10!i 10 10V4 .J4 ,.,.. (U (H tWTt - -AT ' wa jsn ,' t; LOGAL STOGIC EXCHANGE GOVERNORS VUTJli TUJJAX win -PXVWiiJJijJNlJSG MARl Sentiment in Favor of Admitting Additional Secur! to Unlisted Denartment-More Minim? UMD, xt!H fTr 1 .J "OnnAinrr o4 DnIJ...!.. r. '! vvanueu x,cauixi& ouu .ucuuwin otrong 282 Northern Cent.. 80 P58 Tenna II R.... B7 10 rhlla Co ... 41)1 a do cum pref 48., 1308 Thlla Elertrlo. 27 ft 373 Phlla 11 T ... 18 4113 IteodlnB B2J4 J00 flo Itirr ........ 22)1 2S Beabrd A I. pr. 89., 1233 Tnnopah Mel ... ft -20 TonoDah .Mln . n 220 union. Trae . . . 1?, ISO V a I s ...n ir u m.ai . . a: S3 West Kleo .... n.l'l 1 W Jer A B 8.. 49 83 Wm Cramp ... MS li ss MM 4134 43 27 "4 18 001 22U B9. 4t o.k 49 84 02 10 7 V 71 4? It 1OI it. 88 - ,H 4 " "'.. 5?ft :: ,s ::ia 22)4 ) 89 4- ! a'S' r 03)4 S 49 H 83 4- '., 120(1 Am O Ik E Ra 3000 lllo A Peo Tr.4s 80 110NDS. A1 Net High. I.oir. Close, change nn fln 2000 Interata rtys 4. Mi n7U MM B000 ,k Sup Ino 4s,. 80 30 30 4- H 1000 l.h Nv cen 434 s 1024 res- ....102, 102,, 102 ..... 8000 l.h Nvens 44s. 10231 102)i 1021 4 SOOO Lh VI gn 4s... 92 02 02 H 7000 1. V Drox rots ., 44 100)4 100H 10034 Ji 200 Nat l'r Co 4-(Is 07 07 07 2 ihiii i-nua euro os.iu- i"., "1., . -j 1 noon span Am I ns.ioift 101 r..inn Htand n A n n. in2t! io 1C0O Un Rya t c 4s 70 74 74 034 93J4 4- l 014 lnij? J 024 1024 li. li. ; Local Bid and Asked HaMivIn do pref nun A Sus t c do pref t c Drill J U Hire Slor .... Clen Asp ijo pret Today tlld. Asked. 004 -01 KMI nn'i ..108 r.8 .1(1 SSSB ". u. 314 uo Testerday Did. Asked. 88' 84 T.mv. Clnso. otos. 1.15 1.lra,.tllN 1.104 1.10)M.t7j4 1.10)4 1.1114 1.17'i 7.-.4 7$ 304 734 74i 73ta 47 43i 4U' V4 t?ja m 72I t73 78K 1 IS .191 '4 30H 47: 143V 3ti . ..J12.87 in.on 13.12 . . .12.7.. 11MI2 '....21.00 . . . L'3.7n 23.40 tAskcd. 1.1.011 13.12 12.80 12.03 24.30 2.1.83 23.42 INomtna). 112.87 t12.87 12.87 'I2.R7 '13.K7 13.00 U3.00 13.00 12.73 112.80 tl2.73 12.83 112.87 tlB.83 4.00 J2I.01 M.7R 23.75 23.35 23.37 23.03 23.115 23". 4 3 May .iuiy . . Sept. . . Oala .May . July .. ept. . w Lnrd Mny .. July ... Sent. . , hlba May .., 8e-f. . Pcrk My . . Julv .., Sc5h,.i:- COTTON MARKET STEADY; PRICES ADVANCE SMARTLY Showers Relieve Atlantic Belt Vicinity Somewhat Spot Houses Buy NEW TORIC, May 15. At tho opening this morning the cotton mnrket was steady with prices 3 to 11 points higher, near months showing the largest gains, There was a good scattered demand on tho strength In Liverpool which camo l',4 to 3 ', points net higher, whereas losses of B points and more had been expected. Showers in the vicinity of the Atlantic belt where drought had licen complained of recently, caused some short selling. About the only feature to the market wns the buy ing by spot houses and the selling by ono or two prominent room operators. Trading-was quiet during tho noon hour, with fluctuations narrow. The effect of the eastern belt shower predictions seemed to bo offset by the prospects for unseasonably low temperatures In parts of the western belt, nnd the market seemed to bo hesitating between tho bullish view recently developed In such nn nggresslve manner, and tho re actionary nentlment which has followed the advance of t.bout $8.75 per bale from the low lovel of last February. Itccolpts of cotton at the ports today were estimated at 12,000 bale3, compared with 14,539 bales Inst week, 12,313 bales last year and 10,207 bales In 1914. Sat close, Oncn. 11 a.m. 12 m. -2 p.m. Mnrch 13.48 18.50 13.47 13.47 13.88 May 12.85 12.03 12.80 July- 12.9.1 13.01 12.90 1.1.00 12.88 octoDer in ( j.i.in jo.i 1.1.14 lii.ut December .... 1.1.27 January 13.33 13.31 13.38 13.34 1.1.00 1.1.14 13.30 13.35 13.20 18.25 R.A. rriar . PUBLIC SERVICE SECURITIES "Public Service Securities art linked with the success of municipalities." C New England Power Company 1st Mtrie. 57 Sinking Fund Gold Bonds. C. Refund Penna. State tax and free Normal Federal Income Tax. CT, Issued under authority of Mass. Gas & Electric Light Commission. C The Company is --. important unit of the New England Company System, which constitutes the largest hydro electric development in the United States east of Niagara Falls. C The property now mortgaged represents an original valuation of $12,914,000. G; Price to net 5.10. Ba,kei7 Ayliig Co. Ltmd Title Bldg. Philadelphia. Birmingham Terminal Co. Flrat Mortgage 4 Gold Bonds Due March 1. 1957 Guaranteed Principal & Interest by the ILLINOIS CJENTKAI, RAII.UOAI) CO'. (I'STltAI. OF (IKOltniA It. K. TO. ALAI1AMA CHKAT HOUTII'N MV, CO, KKAIIOAIU) AIH LINK KYVV. CO. hOUTIIKKN KAILWAY. COMPANY T, X. tt HAN KHANCISCO It. B, CO. Price to yield 4,80 ROBERT W. DANIEL & CO. 328 Chetnut Street PHILADELPHIA New York London HarrUbure On Co. 1st Mort. s Gontrojlad by U, G. I. Co. REED A- MORGAN & CO, WEST B.N11 TBUST IIUIO., I'lllLA, ajtmbcra of tho I'hlla. Block Kichanat BlAZERS-Ch INVESTMENT BANKERS Bfoad St Saniom Streets J)IttECTBX Og AtJJKTANTg CttURed Vc-bltt. AMoaatanU Kcjstono Tel 14S do t c lA do rfil (IH. I.ako Hup Corp I OS IxhlKh Nnv 7(1 I.hlBh Vni 70U Ixhlsh Vai Tr 21 si lo pfd 4.1 (II ??a m nn 10W 7(1 J4 71) Vi nt 43'.4 Rnt4 niH rs flo 34 as now no 32H 33 1 11.. OR 4JT4 (19 lnu 7R 7n 43 Qovernora of the Philadelphia Stock Ex. change at their meeting this afternoon will vote on the petition which was circulated In the flnnnclal district last week, asking that tho Governing Committee reconsider Its decision against admitting new secur ties to tho unlisted department of tho Phil adelphia Stock Exchange, so as to broaden, the trading. Sentiment In brokers' offices this morn ing was In favor of .Voting for the project and It waB said that some members of tho Governing Committee are In favor of It Thero Is Borne opposition lo tho admission of additional mining Btocks nnd some brok ers last week refused lo sign tho petition because of this, and said that they would vote against It when It camo up. It wa thought this morning that these mining Btocks, Jim Butler and rfevada Wonder, would probnbly bo withdrawn, nnd that the project would then go through. Among tho most prominent Issues sug gested tor trndlng In the unlisted depart ment uro Mldvale Steel and Atlantic Quit ami West Indies, which are now traded In on the New York Curb. For April tho Philadelphia and Western LOCAL MINING STOCKS TONOPAH STOCKS. .Tim Tlutltr MacN'amnra .MMuny Mlzpah Extension . MontAHA North Star Tonopah Uelmont . Tonopah Kxtonslon Tonopah Mtntnff . . nrscue Hula Wcxt Knil DM. . .l.on . .12 , .211 . .28 . .31 . .10 4. 0' . ..1.12 GOI.DFICt.D STOCKS. Atlanta 12 lllue Dull 1)3 Hooth in rtulldoir 01 c o n ii Comb Fraction '. . .00 Dlamf II n in Dahy 01 Florencn 4ft (iolrlflelil Cons 1.00 Ooldflelil Merger 11 Jumbo Hxtennlon 1)0 Kewanas 14 Oro 04 fland K-n n.1 Silver Pick 00 MISCELLANEOUS. Fnlry Aztec 01 Klmberly t - Nevada Kill 2() Nevada Wonder 2.35 Afiked. 1.0.1 .14 .28 .30 .33 .21 J" 0 .47 1.1S .13 .114 .'Jn .02 ,(l.i .10 .07 .(1(1 .12 1.02 .13 .1)2 IR .05 .07 .10 .02 ,(U INVEST IN MORTGAGES AT 5.4 Recommended by BEN T. WELCH ' fcr " ' 128 Cheitnut St. LOCAL MEN WANT "5 AND 10" Offer Mado by United Stockholders to Central New Yorkers STItACUSR. N. T May IS. Upwards of 300 Central Now York stockholders In tho bankrupt United Flvo and Ten-Cent Stores, Inc., will bo represented In New York on May 18, the date set for the sale of the entire holdings of tho company. The concern operated stores In a number of Btatcs and wns capitalized at $1,000,000, but all of the stock was not subscribed. Its liabilities nre estimated at $15,000. Albert F. Wright, of Philadelphia, who represents another faction of stockholders In that vicinity, has communicated with stockholders here, saying that tho Pennsyl vania pcoplo were willing to tako over tho entire stock on a basis of 20 per cent. Ho added that ho would bo willing to comblno with the Central New Yorker's crowd and bring a separato action. Tho company operated IB stores, all of which are now doing business under a re ceivership. If Is said the Philadelphia stockholders are prepared to offer $30,000, which, In tho estimate of tho local people, Is too low. Sugar Market Quiet and Unchanged NEW YOKK, May 15. Tho sugar mar kct was quiet and unchanged at the opening today. Federal and Warner quoted 7.75c for fine granulated, while the other refiners quoted 7.65c. Raw sugars aro 6.52c. IlallWIlV Pnmn.H.. . 12,802; a gain 'of 7H I! ?? 1915. After deducting oifniT oy"J $22,646. Interest anrtJL" """"wfaJ ;?ro $12,525. BiSfifl month wero . -r.wij rata the month was $16 lsi" ." 'IV1""!! cent. For tho 12 monih. ,2 .f surplus over mpare with ; year earlier. w.AH.i. ". ' l s.al 1916. thero waa n . "a " AmM - wua uiu niM ii - or J102.398, to compare wllh t Xfl tho same period a year earli., '"'"M in me local stock marV.t ,a Ji was the most active fntin-i of N&w York and advancea,Ton,?i4tWi! of 214 as compared with till tfj. I umay and a new high' record .i Sl m slock. Elsewhere In iHC. toil . . ". " 'at nr(e - wero irregu ar. ments strong Issue, gaining lu '1!! wh the first hour. " ""'" wi General Asnhnlt (..... Btnall fraction, as did WW i.M fj shore, whlln vnr(i,..- ",'"'"MI point. National properties T-SS.fMM In tho bond division, dropping t!?Sm and showing a loss of three Tool.. . ? pared week. sold up a with (h. ui:L "".r.'"1 N -.... n.o uiKii mnrif . .t. . . rrLm In the afternoon !i...rSuSfil nt. "lot point, " 0129ffl May Circular municipal -A riciumg 3.807-4.75 Railroad Yielding 4.23.4.9B9, Public Utilities Yielding 4.93.5.7Bft List of above bonds, Includlaa rennslvanla and New JifiiJ Tax Exempt Issues, sent on ii quest for Circular Pr-ii N.W.Halsey&Co .. ,A2l..che"tnn.t s,1 I'hUaWpM. 4t New York Chicago ,n maclaa a of n "Ti TAX FREE A First & Rofdg. Mort Publlo Utility Bond company operating In this tUti PRICE TO YIELD 5.7S 1 MELLOR & PETrVI Mrmhrra N. Y. & I'hlla. Stock Exduat! 330 COM.MintCIAL TIlUflT BDItDllaS Northwestern Trust Company mage ana Loiumoia wenues May 13, 1916 LIABILITIES RESOURCES Cash $716,152.07 Time loans 715,945,80 Demand collateral loans... 999,518.36 Railroad a n d municipal bonds for investment.... 750,043.74 First mortgages for invest ments 477,000.00 Banking house and fixtures 74,000.00 Capital ?15O,000JI Profit account, surplus 400,000.91 Profit account, undivided.. iS.OOMI Deposits 3,157,6593 $3,732,6591 $3,732,659.97 ELEVEN YEARS OLD And in addition to the above showing our stock has been placed on a lifJJ cent basis. William Freihofer President Thos. J. Pcndergest Vice President Alexander D. RobinHM Treasurer r sfl HODGDON, CASHMAN & CO. HECKER & COMPANY $356,000 Frank P. Miller Paper Company (East Downingtown, Penn.) Six Per Cent. First Mortgage Ten-Year Serial Bonds LOGAN TRUST COMPANY, PHILADELPHIA, TRUSTEE The interest on theso bond ia paid without any deduction for the Federal Income Tax or the Pennsylvania State Tax. The Mortgage aecuring thoso bonda and al legal matters pertaining to the iisuo have been paised upon by John G. Johnson, Esq., of Philadelphia. The Frank P. Miller Paper Company was established in 1881 and is therefore thirty five years old. It has been very successfully managed, "as is evidenced by the marked uniformity shown by its record of production and net earnings. For example, taking the ten-year period from 1906 to 1916, the Company's mills have been operated on an average of 294 twenty-four-hour days per year; and its net profits during this period were $394,367.41, or an average of $39,436.74 per year. This is equivalent to approximately two times the interest requirements "of this issue of $350,000 Bonds. The purpose of this issue is to erect an additional mill which will treble the Company s capacity and add accordingly to its earnings. The new mill will cost in excess of $350,000 to erect and equip, and together with the present mill will constitute the security behind this issue under an absolute First Mortgage. The replacement value of the present mill, according to the appraisal of Coats & Burchard Company, Engineers and Accounting Experts of Chicago, is $326,323. The Company's mill and equipment have been maintained in the highest possible physical condition, an adequate sum of money having been set aside each operating day to y take care of repairs, replacements, etc, ' The Company is engaged in the manufacture of Bojc Boards; its management, credit and financial responsibility are of the highest. -MATURITIES- October 1, 1017... $20,000.00 April 1, lOlS.,..). 20,000,00 October 1, 191B... 20,000.00 -April 1, 1019 20,000.00 October 1, 1019... 20,000.00 April 1, 1020 20,000,00 October 1, 1920... $20,000.00 April 1, 1021 20,000.00 October 1, 1021 . . . 20,000.00 April 1, 1922 20,000.00 October 1, 1922... 20,000,00 April 1. 1923 20,000.00 October 1, 1023. ,.$20,000.00 April 1( 1024 20,000.00 October 1, 1924k.. 20,000.00 April 1, 1925 20,000.00 October 1, 1925... 20,000.00 April 1, 1926 10,000.00 Descriptive circular with list of remaining maturities of this issue mailed upon request. Detailed stattments of Company's operations open for inspection at offices below Hodgdon, Cashman & Co. Finance Building PHILADELPHIA Hecker & Company lliubtn FblUdclphla Slack Kxchsnss 6th & Chestnut Streets, N. E, Comer PHILADELPHIA For convenience in replying ue Coupon below MAIL COUPON TO EITHER OFFICE uwaieNce b rbown t, rn itiaTpav eTAW TRiwt wuiOkno ' srV M-J ', 'Mail information regarding Fvtnk P, Miller Paper Co. Bonds to Namo , ,. , ....,.,,,,,,,, .,.,.. Address ,.,,.,. .'. ntni. ,!,.,.. MMM'tiiiti '7mm "J n 1 1
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