is.
JFVc'lW ,
.
m-pmLADELHlA,
n-VS
SiT
v" -. ; m
nGJt, MAT 20; ' 1016.
FINANCIAL NEWS
MANtf BROKERS ATTEND ANNUAL GOLF
TOURNAMENT AND STOCK TRADING LAGS
f , 1
Accumulation in Reading Rehewed Buyers Wait for
Stock to Fall Into Brokers' Hands Talk of
Larger Dividend for Kennecott
New York Stock Sales
High Points in Today's Financial News
. New York bank statement showed increase in average loans of $S2,6S9,000
and a falling off in reserves of S5,976,9i0. Actual loans expanded $9,616,000
And actual reserves decreased $11,830,970. War orders of Westinghouse in
tyar (90,527,000, ($,000,000 more gold brought in from Ottawa, Price of
rivets advanced. Southern liailway sold $1,700,000 i IS pef cent, trust
certificates, Bank clearings for week showed increase of i7.7 per cent, as
compared with same period last year, Pennsylvania Lighting Company in
creased dividend, Price of bar silver slightly lower in New York and
London,
NEW YOniC, May 20.
Thero wero two sides to tho stock market situation today, one being tho quiet
Bess of. many stoiks favored by the speculative element because of tho fact that
nearly all tho largo traders, as well as tho younger element on tho door, deserted
tho room to attend tho annual Stock Exchaiiffo tournament at Knollwood. Moro
ihart 100 members were entered for this tournament, and, with tho largo gallery
watching tho players, tho attendance drew largely from tho acttvo clcmbnt In tho
market, tfhls element followed tho rule, that If "business Interferes with pleasure,
drop business."
Outsldo of this absenteeism and Its result on tho valuo of trading tho market
presented many Important features. Accumulation of Heading was renewed, but
asldo from a scramblo of shorts" at tho oponlng this buying pursued the regular
courso of waiting for stocks to fall Into brokers' hands.' Somo realizing usual at
tho-end of tho wcok caused a recession of moro than 2 points from tho opening, but
this Bupply was quickly absorbed and in tho later trading tho markot reflected tho
renewed accumulation.
Nothing has yet been ascertained about, tho definite scopo of tho Heading
plans, but today Philadelphia lepresontatlves hero were closo followers of tho
Now York banking lead and wero among thoso who looked for materially higher
prices for tho Heading Issues.
There was a good deal of manipulation In Kennecott Copper, with somo of
tho largest houses offering net stocks In blocks, but after other equally Important
douses bought nt slight concessions tho largo selling orders woro quickly with
drawn. Thoso who know tho most about tho property stato poslttvoly that tho
dividend rate will bo increased to S per cent, on Juno 1.
Tho war-ordor stocks continued neglected nnd thero was tho same wide swing
In Industrial Alcohol that has been noted dally for a long time past. United States
Bteel mado a moderato gain, nnd thero was a hotter tono to tho trading In Ana
conda, It Is posslblo that tho copper group may bo brought Into greater promi
nence during tho coming week. Thero was somo Investment buying In tho dlvl-dend-payirig
milroads, llko Great Northern preferred. Southern Pacific and Union
Pacific, but this buying was not extensive enough to bo reflected In any Important
prlco movements.
Just beforo tho closi thero was hurried buying on a largo scalo of Canadian
Pacific, which crossed 181 for tho first tlmo slnco last January, making a gain of
8 points. This Is one of(tho stocks In which thero Is a huga outstanding short
Interest, with some of tho bear accounts put out nt below 140 during 1915.
More Canadian Gold Deposited in New York
NEW YORK, May 20. J. P. Morgan & Co. havo deposited an additional
$2,000,000 in gold bars at the Assay Offlce. imported from Canada. This makes a
total of $12,456,000 brought down on the present movement, and Is approximately
tho full amount said to havo been released by tho Bank of England In this
operation.
Prices of Hivets Advanced
PITTSBURGH, May 20. Manufacturers of rivets in this district have ad
vanced prices to 4.25c. and 4.35c. for structural and boiler rivets, respectively.
Theso figures are $10 a ton above prices prevailing for shipment before October 1
nnd. $5 a ton nbovo prices previously quoted for delivery In fourth quarter of this
year. Nuts and bolts havo been advanced nbout 56c. Tho demand for all threo
products Is decidedly heavy and new business Is being discouraged. Somo wiro
mills aro asking $2.70 per keg. Pittsburgh, for nails, or $4 a ton nbovo tho prlco
adopted May 1 by tho American Steel nnd Wlro Company.
Drexel & Co. Buy Southern Railway Trust Certificates
NEW YORK. May 20. The Southern Railway has sold to Drexel & Co an
Issue of $4,700,000 4 per cent, equipment trust certificates, series "T" dated May
1. 1916, duo $235,000 semiannually. They will bo secured by new equipment esti
mated to cost $5,633,000. Tho bankers aro offering tho unsold portion of the Issuo
on-a -4.45 per cent, basis.
WHEAT IS IRREGULAR
AND BUSINESS QUIET
While Some Operators Predict
x Rally, Heavy Supplies of Old
Help Bear Side
GRAIN IJKLT WEATHER FORECAST.
CIIICARQ. .May SO. The weather tore
Cast far 38 bourn follow:
Illinois Shourr tonight and Sunday) not
mnrh chanice In temperature.
MUsoarl Showers tonight and Sunday)
cooler Sunday south.
iiconiin una lovra noTm tanignt and
Sunduri not much change In temperutnres.
junneaoin pnourr tonight and
cooler nunuay went nnd south.
cd.
Nebraska 8hm.eru tnnlche nml Knndnrt
not mueh change In temperature.
North nnd Mouth Dakota and Knnaas
Showers tonight nnd hundari cooler Nundar.
CHICAGO, May 20. Irregularity char
acterized tho trading In the wheat market
this morning. Business was quiet. May
opened at $1.10 to $1.10, against (1.11
at the end yesterday, but rallied to $1,11
before tho end of the first half hour. July
started at $1.1214 to $1.11. against
$1,12 H at tho closo yesterday, but im
proved to $1,12. September ranged
from $1.12 to $1.12 & at the outset com
pared with $1.12V5 at tho close yesterday,
but moved up to $1.13.
There wero some recessions from the
nigh points. Sentiment was divided. Somo
operators predicted a rally for technical
reasons, but there appeared to be more
disposition to take Into consideration the
bearish significance of the heavy supplies
of old wheat In the United States.
The market at Liverpool was quiet and
easier on expectations of large shipments
to Liverpool. Offerings were free an- the
demand was poor. Continued weakness
was noted at Buenos Aires. The drought In
Australia remains unbroken over a wide
area. Exports from that country for the
week were estimated at 1,000,000 bushels.
mostly to the United Kingdom.
The receipts at Minneapolis and Duluth
today were 205 cars, against 25E cars a
year ago; at Winnipeg, 740 cars, compared
with 259 cars; at Chicago, 93 cars, contrast
ed with 45 cars.
Corn held well on covering, notwith
standing better weather and easier at Liver
pool, where Plate offers were free. Spot
there was Id cheaper and parcels were off
3d. Consumption In the United Kingdom
has been reduced by higher temperatures.
The receipts hero today were 91 cars.
Luadlns future ranted as follow;
I New York Bond Sales
IIlKh...
HU
liwK
Wheat Open. High. Low.
iiay.
July
' .pt..., 1.1UK l.lSli
torn mew umyery
May.
juiy, ...
Sept
Data r
Hay
Juli...
&-
iopi.'!;'.
r Tub-.
Slay.. .,
July.. .
SSB;:::
"Mild,
l.llii 1 lli
l.tuK 1.13CI
JiH
42
33
12.0
13,10
i-i'.&b
12,07
Sa.r.s
, 2J.20
tAaked.
Kit
n
J8H
itKor
13.10
HM
12.03
iS'.lvs
VM.30
Noon.
1.11
Hi
72U
IS
"4
1.12K
1
30&
ii'.is :S6 'laloo
12.8T tia.00 13.13
lp.87 12.00 tis.o?
Test.
, Close,
fl.ll
km
72ii
!i
t42
SOW
jilts ii'.iso fetico
SX 1Q :y.20 23.37
FOREIGN EXCHANGE
WW YORK. May tO. Tha market for
foreign, exchange in the first hour of
business today showed extreme dulness,
but in the main the tone was steady, There
Ws little feature. Quotations: Demand
sterling; 47$; cables, 1.73. "llrlB; francs,
cables, 5.91 , . checks. 5.92 ti; relchs
marks, T7 l-l87His lire cables, . Sly.;
t'htckj, .33; Swtw cables, 5-21; checks,
fatj Vienna. IMS 1J.4S, Stockholm,
te.US, 30.70. pesetas, Jtt.78a9.8CK guilders.
--a&&U 9-16; rubles, 30.SF30H
??.JX;R Adams Express Aa
10000 Alaska Gold cv tin
u?wo Anglo Tr 3 ..oil
nTiSta raenune as 1)J
3i',m. Amw- Tel Ft -Is J'i
JSKJ! Atchison n 4 .... 113
JOOO ilo cv ft lf)00.....10.'S
rj!!i Allan Co Line clt 4a.. 8H'4
3i " Uai & Ohio 3Hs.. U2t.
,000 do pv 4.u . iwt
-"vw i fl; u 2- i. EJLWV 4s
1000 Halt & Ohio Swn 9t,s
nooo Halt .t Ohio ,1s...":
HOOO (Tnnn.l.i .C!n .1- 1iu
-8SJS ul c!f & El ,0s... IIH't
nuooo do 1113 1 loo 'I
1NOOO do 1U21 ,.".. UU'J
SiKJJ Cent leather 1st 5s. .101.
300O Ches & Ohio cv -Hii. hM
0000 Chl Ot West 4a.?..., 71
000 Chl Nwn iren Ba... 0.14
100O do deb 3s lOUl.,.. 10314
0000 Chl lis Q joint is ... Stl
1000O do cv r.s ....107W
400O do cv 4Vi tr.lOOi?
4000 chi nwy bs " nns
122!!!! S0' Industrial Ba 73
B0OO Col Midland 4a....... lj
;2RK c.l outh 1st 4s.. 1U
0300 Cons Gnu rv lis ll'S
I'OOO Den & lllo Or 4s 1HK
"" "o rra as
2000 Detroit Oas 3s
P?0 JJftrolt United -lUs..
1U00 Ills Hecur Corp Bs...
J0O Krla gen 4
SS2RR d. "inv 4s Her 11.. 78M
JOOO Oon Klec deb Bs 10.1
: KSi 'ndlana Steel B ki.ij?
7pO Jnwa Central ret 4s.. 8.1 II
!H2. !" Cent rM 4s 1033.. 8il
4000 Interli Met 4St,7.. 74ft
30000 lnterb It T ref Bs Q&tt
,0?,'if!S 'nter JlJfJr ct 4 "s. -1022
IO00 Inter. Arit 5s 77U
3000 Kantaty So 1st si 70"
ffl Lake Shore Ken Bhia K5I;
vi)9Q . M" itui oC
1000 Ll Jl T 5s...:.. 102 v
" JSS'J lnt '"ond.rfd 4s.. NDJi
1000 Manhattan 4s ..... 01
BOOH Mo Kan & T 1st 4s.: 7tl"J
P' J Kan 4 Kaa 1st ii 7H!
UOOO Mo Pac 4s 47U
'"! JJo gae col B, inn JP
1000 Mo Pac ct Sta 4..:. 4811
moimi Mo I'aclHc et 4s", 47r
ljnoo Nat Tube 3s.., lm'
"SSU N Y Canal Imp 4(i. lli
UOfflJ NYC H con 4s,: "Sit
11000 NYC!! ...". IhliC
1000 N Y C ft 11 aWi : H2&
I8S2 s J ?. iud j;:: sja
Low.
82 H
10J
113'
112 4
10-s
03
105
80 M
IK!
iooi 10014
Close.
10.1
in
112 u
107 K
u.i
103
R0H
02;
Oil
87 '
Wi
100 i
104
08 '4
0'J
100
00 V.
ion;
80S
85
03 1
103J4 103
?
I07
lOOJI
0I)
7BS
II
"4
3!4
Hi OIJi
3 122 'I
8 7MfJ
0 tint.
tji ini! 10154
1J4 8l 814
11M 7il 7il'
4 74 74(1
oak
021
107
100i
0IIJ4
7Bi
1
iu
71
78
88
10311
103
53
71
88
10.111
,n , 1!
lJ 7B JU.1'1
5.1(1 B.llJ
Kil H so '4
T4I 74 1!
nwI null
711
8.1t!
a a
08 S 08
' 1 '
.0
851!
01 K
302
80 'j
inu
7IIW
781
5
in
.'4
iti
105
8UU
111'
7(114
4.1U
lol3
115.
Hi..
106
I
4S.... 71 71 11
r N J Ba.,,,, 82i 02 02
5 4s 04J4 U1J4 04jJ
a Bs 18 118 08
ct Bs 1st ata 55i B3 B3i
lm
DHtS
02
B
101
103
71
47
101
11.1
iMVi
4000 N Y Chl ft Ht" I . W.-.1 KJ 8i
1IMMI N Y Cltv 4s 11150. inn" ii,"
T,'XH Ji X Cllr 414a 10114. :i02i4 jieTi j,,4
innn Sr l ,"' ee.n ..i. l'8'i im(
5"00 do cen 3 , ,, 6flH fliifi
2?0o P'jna sen ct'm; " 10tJ-lul8
nnn n. j. . -? si . "'
7n.,X itr, ."' ",,,, II., 71
t;a ww "?rv j oa
iwu iteaainir sen
210D0 itep 1 ft a a
Anna """.."i ct B" Ut 'a 55-
4&00O rfd 4s 75 Ti ti
8000 do sa ..:::::: Js lis
1000 nwy Stl 8pn 1021 BallooH 1008
llJnnS S5 !'M4, K, B." 100?! lBo3
U?n22 8' L4a rfd ct ata 4 702 762
83000 do Inv w ! ...
DOnOi) dj adl w t . . .
88000 do Aw I . .I
nooo St I, awn Ba ,
2000 do con 4
uooo standard Gas lis ....loi
HSS SabPrl - h 8la 4:. 07
2000 South 1111 S .. ..uto
1BOOO outh 1-ao cv 4 .....'us
87500 dq cv 5s , ,.1113'
4000 do rfd 4 !....! 00'
400O Texa & Pac 1st 5a. 81 ii if
.twin Thini 1.: ..11 S. "' Zk- 2'
1000 Toklo 3s ,"....: - ?T1
1000 Trlclty 5 . . , . r. iAA
10OOO tl H Rubber na . lSt
20000 V 8 Pteet sf Bi.r... lOSIl
2200O IF B L II & M G, ..' JlSij
1000 jTnfon Pac 1st 4s . .OrtJ
1PJSJ I!n Pv St L la... BuK
KK2 X $! "wn Bros... 50
1-000 Va Car Them a 101
7000 Wabash Sd 5Y., 084
S&MX) 1vb-P T 1st ci 4sp. 30
JOOO West Rlectrlci;. p ii"
2299 JX' .. u 6s wl 12i
BXOT wst Union 5 . , in I
1100O Wheellhsr & L E it.. TO
DUK SOU
, , sou 8i4
.. 7B 74
., 68 88H
..63 S3
B2U Bli
102
(4 67U
no
88
10.1
Ql)i
innvj jnotj
7j
T7
loo"
101
103
112
nov
?.S
lm
01 H
83
102
125
101
70
Tola I sales, 82.X43.0OO. compared with i .
Irfi
BATES FOR MONEY
CalL TlBja.
m ' sh
A 4'.i
4 "
r
LIVE STOCK QUOTATIONS
. ClIICAqa May SO. 11008 RecelDts. anon
Market atrontr. allied, and butchers.' ts:73(l
KU
J0.2O .food heavy, t.eo10.0. rougla biivy
t8S3Q8.83. lUht. tl.&30iU13, Jin iFsaH
OATTI.B JUcslgs, 1000. Market study.
J7,ioMJ.23, caltea. .ol
. SHAi:7--llptii. XMQ,
Ura-wsl WeUn; ;lw:
tiad:
is.uui
SSas.'A"0' Texan.
MsfKex auOjp f.
n4 $T501D,8S. cows n4 beiera, 3.UotP
D Alt .iMll.r. a.fl I...I.,. 9 A W SAt. FM .
I-"TArT2?" . 5"JE' VifVI.
Net
, . , . ltlah. Isnvr. Close. cbe.
Advance Rumely. 184 . 184 ?i
do nrcf. 30 394 89
AlA9ka Junenu.... 9 9 9 - Vt
Aliutka OoM Mines tti, ttM JJVi i
Allls Chnlmers.... X7H 'Vi Uft H
do pref. .1 82 82 81 H
Am Ak Cliem.M H o "H
Am It Sugnr...... 74 78H 78
Am Can 87 ftfl 88
Am Cnr ft Kdy. ... fldtt 60Vi 80 y
Am Coal Prod.,.. 1877 lM?fc 18T V
Am Cotton Oil.... 84
Am It ft l.ca pr. 30
Am Ice ........ S8
Am Linseed ..... 23
do pref ... 407h
Am Loco ........ 71V4
Am Smelting ,,,,100
do pref ....... ItSTs
Am Zinc mini 88
Am Sugar ,Mi
Am- Tel & Tel ... 129
Am Tet & Cable.. 87
Am Tobacco ....200
do pref ...... ..107
Am Woolen .40U
Anaconda Copper. 8di
Atchison
Daldwln Loco , .
Balto & Ohio ....
do pref
Ilotopltas Mln . . .
Ilrook Hap Tran. .
Itutto & Superior,.
Col retro pref
84
80
28
225i
40
70
90
84
80
28
23
494
70
08H
1
129
07
200
107
46
8ST6
10SH 1047a
87 80M,
llStf, llSft
8874, 81
113 118
02
73
2
87
03 H
01
73
2V4
87 M,
02
120
67
200
107
-46V4
86
103
87
02
78
87
1
LONDON FEELS .
END OF WAR IS
NOT FAR AWAY
1
Sir Edward Grey's Interview
Makes Approaches Easier
Than Some Time Ago
Sales iH Philadelphia
... ... lllftli. Low
lira Am, Mil ina" , , 7
10 liald lfo pfi .109
.so nun: su t e. na'4
100 Halt Ohio... 01H
.50 Dlst 6M 63
123 i:in fllne A
830 Kris ..,..,,.., 404
1... zni
Net
Clo. thanrs
1 no
B2t(
10 Ins Pi N A
BO Lk Slip Corp.., 10
10 Tihlffh Mav 11
40 I,hljh Val .... 8 Hi
.... 1774
s.
140
100 Nov Cona
ant i-cnna
....,...
MEDIATION POSSIBLE
Weakness of Rubles Due to Ex
cessive Issue of Paper Money,
Says London Economist
Ya
Chandler Motor... 07
Central Leather... StVi
Ches & Ohio 64
Chlno Copper 84
Chlo Great VT,,.. 14H
do pref A 39
Chlo Mil ft St P. . 07
C C C ft St Louis. 82
do pref, 82
Chlo St P M ft O.. 12214
Cont Can 03V4
Chl ft North W . . 120
Chl K I & Pac .. lOTfe
Col Fuel ft Iron.. 43
Corn Products ... I9V4
do pref ....... 04
ostt
182 17014 182 3T
08
34
03
84
14
38
0714
82
82
07 H
84H M,
03 .U
84
14
3874
07
32
R2
12214 122V4
04
1294
19V4
43
104
04
8814
0114
129 14
low
43
14
M
1
14
h
14
14
14
1014 14
04
84V4 Y
11014 H014 V
1414 1414 14
20 27 1
8114 0174 14
12H 124 14
40 4014
BSV6 8514 14
4714 4714
313 813 1
17214 172 114
11014 11014 14
47 47
73 70 114
Crucible Steel ... 8414
do pref 11014
Don & nio Or.... 1414
do pfd 27
Distillers Secur .. 0174
Dul S S A pfd.... 12
Erlo 40
do 1st pfd 83
do 2d pfd 4714
Gen Cliem ..., .315
Gen Kleo 172
do pfd 110
Grun-Can Cop ... 48
Goodrich Co .... 70
do pfd 11814 11314 11514
Great North pfd.. 122 122 122
Great Nor Ore ctfs 41 T4 41 41
Gulf State Steel.. 75 73 78
III Central 104 104 104
Int Ag-r Corp ... 17 17 17
do pref 53 3474 84T4
Int Harv Corp .. 81 81 81
Interboro Con ... 10 18 1R74
Intnat Paper pr.. 49 40 40
Inspiration Con... 40 4ST4 40
Int Nickel 40 40 40
Int M M t c .... 25 25 25
do pref t c ... 02 01 0174
Jewel Tea 88 88 88 ..
Kenne Cop 80 5574 60
Kan City Southern 27 20 27
do pref 01 01 61
Laclede Gas 100 100 ion
Lehigh Valley.... 81 80 81
Lee Rubber 48 47 48
Mackay Co 83 85 85
Manhattan Shirt.. 0(1 00 00
May Dept Store.. 08 6474 00
Max Motors 80 84 80
M St P ft S S M.123 121
Mcx Petrol 100 107 109
uo pref 97
Miami Copper ... 80
Missouri Pacific .. 6
do pref t o ... 014
Nash Clk ft St pf.100
N Y Air Brake... 133
Nevada Con 17
N Y N H ft H.... 0274
N Y Central....
Norfolk & "West.. .126
North Pac 114
Nnn Mex 2d pfd 7
Ont Silver 0
Pacific Mall 28
Pac Tel & Tel.... 34
Penna It It 6774
Peoria & East... 11
28
47
14
'
1
123 2
,
14
li
0
Oli
07
36
100
133
17
62
-3
07
36
0
6
100
133
17
02
107 100 106
125 123?
114 114V
7 7,
0 0V
28 235
34 34
37 37
11 11
38 28
40 40
131 131 131
07 07 97
23 23
101 103 .. .
48 40 1
48 48
111 111
17 17
40 40 Vi
By FRANCIS-W. HIRST
Editor The Economist, London.
Special Cable to Evening I.tdoer
LONDON, Moy 20. Financial circles
are talking moro nbout pence than over.
This may menn much or nothing. For some
reason or other, perhaps mero Instinct,
men feel that tho end Is not only chrono
logically but logically much nearer than
It was six months ago. '
Sir Edward Grey's Chicago Intervlow
makes approaches easier because ho dts
missed as preposterous the German state
ment "that England Is trying to smash Ger
man unity or to prevent honorable peace.
Nor did ho reject neutral mediation, pro
vided It brought forward a real basis of set
tlement which would glvg security ngalnst
futuro aggression.
Tho French Premier's speech on tho vote
of censuro suggests sensational develop
ments.
Meanwhile good stocks of tho second rnnk
nro being bought, but war costs nnd bor
rowings aro too heavy to permit much moro
than firmness for Government securities.
The imperial $15,000,000 C per cent, wnr
loan has Just been oversubscribed In tho
Malay States, mainly by local Chtncso mer
chants. This helps Eastern exchanges and
affords eloquent testimony of tho prosperous
loyalty of our rubbor and tin protectorates.
My friend, Professor lMlllukoff, Is very
cneeriui nDout iiussia, but In the flnanclnl
district thero Is somo uneasiness over Itus
Blan finance. The weakness of tho ruble Is
duo to excessive Issues of papor. Kopek
notes, equivalent to a farthing, havo been
printed. Small papers nro a great mistake,
but I am not awaro that paper notes havo
ever before gone below tho half frano in
France, whero thero nre Issues for local
consumption In many towns.
?0 rhlla Co cum pr 4214
10 i- II t ..,.,,, is
oo ir ctrs ,, isn
1580
si mil
1368 ltondlnic ...... l03'4 101'4
Trao
180 An Int nrr
030 Ton Ilol ...... 4
13 Ton Mln ...... 0'
81 tin Trim .. 41
.54 U O I ..,.,., B7'l
in.i IJ H WMt ., ,, ,v
100 IV Y N & Pa, 12
Kill Warivk Ir & Bt 10
HS W J Hflf. ,. 411
I no
8 8itt?:
52 62 , 1
23 23 H
10 10
II lh -
o$ 1 ::.::
42H 42'i ...i
18 , 18 H
1814 18V4 .
7(1 ii...
Ins .....
4ai -an ' .
71 8"J? ?it .7
(1 12U 124 1
ii 1AH 1014
too Cramp A Bong, 83?4 83T4 83'4
100 York nwy pr.. 30M 80(4 80(4
mIr, 0808 ahnre-, tomparfd .ij''! 81"
ant Hatnrdari this week, 83,312 -harm
k, 60,801 share.
-fatal
rharea Ii
ant weel
BONDa.
Ill-h. Low.
2.100 Am O A n Ba , 08 98
4000 RI'S A 1' Tr 4a, 80 794
0000 Key Tl lit 6a, 984 9814
4001) I, N cons 4l4a,102 102
zoooo Lrn urcx rci-
4Hs .1004 100
N't
ClOi. CtlR.
OS,, !4
V$ T 7
08 H
102 H
u innu 10014 .....
2000 L V Tr 1st Oa. 914 S1T4 .9114 H
ill vi ....,,.
ni
2000 Ia RI--1 5a ..!tnoU tfloit
nnmi ta r',1 ,i-n AILm irf in'l in'
1000 Phil El-C 4a . 824 8-i 82.
8000" Un rty Inv Oa , 70H 7014 70V4
Total -ill--. 817,500, -omnarrd with 16,000
lnt Hnlnrdari Ihl- week, 8301,7001 lait week,
8382.000.
Local Bid and Asked
STEEL BUSINESS HAS FALLEN 0 ttfr.
LARGEST DECLINE IN DOMESTICORD
Many Inquiries Are Still in Market for Export-.? J
Transit; Issues Strong on Pnvm.oio tri. . ln
Company's Co-operative Plan 6
ilHl.1l .
eventually slariebuX" M
rnl roads havo not rtS (Hi
their requirements, and '
believe that purchase, Sff ! 3
etc."" " m,er ,0 tak olt;M
tracyite'Sllot'1 th?? 1
;;.; ,,... A" icti0 ;
"384 "votes r "eeUVnhv,.C.hi
fl-cant;aVtot,rn,5
versy between th a.?"" .ta.il 6K
and tho company. """naa Aj-oj
-...unbiiuui mo local llfl
0tnr"f!aPward
nor active. "luX 1
Despite the fact that some steel trade
authorities stato that the demand continues
quite good, thero aro others who maintain
that tho falling off recently lias been con
Idcrabto when compared with past months.
Domestic Inquiries and orders show tho
largest decline, although foreign business
also Is not up to that taken, within tho last
eight or nine month.- Howover, there are
still many Inquiries for export In the mar
ket, and a large proportion of tho domestic
demand Is the result of orders from abroad
placed with manufacturers In this country.
Shell steel Is wanted in substantial
amounts, but still the total Is said to bo
considerably below what was ordered Here,
on other occasions. There lins been a drop
In the business from the railroads nnd this
Is felt perhaps most keenly. Steel Interests,
however, expected such n courso by the car
riers following tho largo orders placed Up
to two or three wcoks ngo. ,
Tho ndvnnco In tho prlco of steel rails
naturally held off buying temporarily, but
this Is believed to be duo moro to tho fact
that deliveries cannot bo made until about
a year from this tlmo than to nny other
rntinlri-rntlnn.
Tho transportation corooanles have been tho last hour,
ments wero generally Upw" d "H? WS
gains were not lar -Hi,?: ottS
rTMir
tlonally. Electric Sloraca nl,,ntA m
1 .K, .' "ualo and Susoo.m wn fl
n-,
Iltiff A Bus t a.
tin pfd to,.
.1 O iirlll
Dnldwln
ilo Tltll
MARKET MOVEMENTS
ARE MIXED ON CURB
Denials of Sun Refining Com
pany Checks Bullish Operations
in Metropolitan Petroleum
Pittsburgh Coal..
Pressed Steel Car
Pub S C N J ..
Ily Stl Sps pref
Ray Cons ....
Heading
do 2d pref .
Itepub Ir & Stl
do pref 111
Seaboard Air Lino 1714
do pref 4091
Sears-Roebuck... 182 182 182 1
Stl. & SF 2d pref 0 a 0
St It & Southwest 20 20 20
Shat Copper 33 82 82Ji 01
S P n Sugar 205H 203 203ift u,
23
.101
40
40H
J
do pref
Southern Pao. . . .
Southern Rwy. . .
do pref
Studebaker
Texas Co
Texas Pac n It.
Third Ave
Twin City It T..
U Bag & Pap pf.
Unit Cigar Stores
Union Pacific...
do pref
U S Und Alcohol
U S C I P&F...
United Fruit....
Un Rwy Inv
do pref
U S Rubber
U S Steel
do pref
United Cigar Mfg S814
U S Smelters ... 70 14
do pref sii4
Utah Copper 8 114
Utah Sec 17
Va Car Chem ... 4Z
Va Coal Ir & Coke 48
Wabash 1514
do pref A .... 48H
do pref B . ... 28
Wheeling 4 t, E pr 15H
Westinghouse Elec 02
West Maryland.,, 33
Wells Fargo ...,12s
Wisconsin Cent .. 3014
woolworth
do pref 123
Willys Overland.. 200
lion 11014 H0V4 14
100 0010016
21 2314 21
67 07 07
13714 1334 13714 194
IDS 102 102 1
1214 1216 12H li
8214 0214 024 Y
OS 08 08 V4
30 3014 30
00 04 03 1
180T4 13814 13076 1
' 1 8Ii 82"i
185 157
2 22 22 Xt,
1B0H 137 -74
10 10
22 22
83
8514
11076
150H v
10
14 Vt,
83
32
63
8314
11094 11076
8814 584
1
14
16
14
70 I
1 Mt
8114 14
" V
4276 Va
48
1516
4814
75
81
80
17
4274
48
13
48
2776
1414 1514
01 82
32 32
17414 125
30 SOU
..1S4T4 1374 13174 16
153 1S5 ...
33014 300 5
1
114
V,
14
14
romoared
. 4,411
with
Total aalti. 323.100 aharca
sj-i.ovu anarea laai naiurilari llila hm
100 ahareai lat wck, 3,334.000 ahurea
NEW YORK DANK STATEMENT
Average Loans Increase, While Re
serves Fall
NEW YORK, May 20. The weekly
statement of the members of the New York
Clearing House Association shows an In
crease In the average loans of $22,639,000
and an expansion of 79,046,000 In the actu
al. Details follow;
AVERAGE.
uecrcaaa.
Loans .........
Demand depoalta
Tlma depoalta .
lUaervea ,,,...
,...,.
tO
, ,,.
. fl.
...(,,
a,..,..,,,.,,,,
ACTUAL,.
Iiana ....,
Net demand depoalta
Time dtpoalta
lleaervaa
Increaae.
..-.
.,122,830,000
.- SU,O.OOIl
. 14,070,000
, 5,073.040
Dacreaaa.
. ?o:m 0.000
, 14,544,000
,, 18,614,000
,. U, 830.810
ilrn-k
Jawfci. 'MffJEBK'
More Goods in "Warehouses
NEW Tronic, May 20. There was 58,
997,4(9 worth of merchandise Jn bonded
warehouses at the port of New York on
May 1. according to figures- complied by
the Bureau of Statistics H( the Custom
House. This compares with 152,252,138
held In the warehouses the previous month.
On May 1 the stocks of cane sugar ag
gregated 186,979,607 pounds, valued at 16,.
00?,&7g. as compared with" $2,665,(30
pounds, valued at S3.744.135.- on April 1.
BAR SILVER
Bur aUyr was quoted at 804. In London to
4r, off 71a.
NEW YORK. May 20. Market move
ments on tho Curb wero mixed, with pres
sure of many stocks which havo recently
been taken by frlondly subscribers tho most
Important feature. United Motors earlier
In tho week reflected tho overdoing of these
new suDscrlptlon oflerlngs.
Today the stock of tho Gaston, Williams
& Wlgmoro Corporalton sustained a further
loss, falling from 51 to 48',$, a new low rec
ord, but found support at this level and
rallied to B2. Chevrolet halted Its record
breaking movement, but was active and
fluctuated from 128 to 132. Mldvnle Steel
pursued Its usual courso of receding and
advancing without Important net change
nt tho end.
The denials mado by tho Sun Refining
Company had an lnfluenco in checking
bullish operations In Metropolitan Petro
leum, but that stock held fairly good and
did not recede to any greater extent than It
probably would havo dono if no such state
ment had been made. Ofllclals of the Metro
politan Company Insist that they havo
the contracts In hand nnd Insist that the
denials nre technical. Vnrlous statements
In regard to theso contracts, however, aro
of little Importance.
Petroleum nnd Its products havo a world
market, and cither the crude oil or tho re
fined results do not need nny special bu)
era to make the operations of such piano
profitable. In fact, no market importanco
should havo boen attached to the stories of
the Sun Refining contracts.
Changes In the goneral list during the
half day outsldo thoso referred to wero
without Importance, the market generally
being of a waiting character and its tone
governed by the liquidating efforts In somo
of the special Issues.
INDUSTRIALS. -
Aetna Exnloaliea 78
AJax Itubber Tire III! i
Am Hrlt Mfe 13
Am Marconi 3
Atlantic Oulf & W I 43
do pret 52 I
Canadian Car Co ...., ...72 '
Can Car A Fdy pref SH
Chevrolet Motnra 220 21
Cuba Cano Suaar 60 1
Curtlas Aeroplane ... 48 I
DrlBsa-Seahury 132 l:
Kmerson Phonograph.. l'ji;
Haakrll 6 llurker Co., miV4 :
llendee Manufacturing ,, 23 !
Int Merchant Marine 23 :
Inter Merchnnt Marine pref 01 I
iiamoaion iironze prei 2i ;
Maxim Munttlona 7
Manhattan Trans y.
.Mldvalo meel fllta (
Otla Elevator 50 I
Peerlesa Motora noU :
Tools Knir 08 1!
Perlman Rim ...130 l;
S B Kreag-e vr I li
Htand Motora 8
Submarine 35 .
Trlansle Film 3U
United Profit Sharing 15-10
U 8 U & II com 2H
do pref , ,, 4
United Motora ; , 03i (
White Motora 51 II
World Film l
STANDARD OIL STOCKS.
Illinois 184 1!
Ohio 240 24
I'ralrle Pipe 214 21
H O of California 248 ';
8 o of New Jereey 513 51
8 O of New York 201) 21
57
38
87
1ii3:
Klec Storage 114
Urnernl ,iphalt 82
uo pro 71
Key Tel 14'i
do t o. I4t
. do pref us
Lake Hup Corp 10
Leh. Nav . , ,. ini
Lehigh .Valley 80i
Leh Valley Tr 24
uo nroi ............ a
1'ennayivama
i'lllia
Phlln
rin ft Tier rent. nrf. . . An
-J!? .P?I cent- '' 42't
Phlln II T t c 18U
Reading 10211
Ton llnl 44
Ton Mln ,. ll4
Union Trao ., 48H
u o i mi
U H Sleel fl.-,i
York Rwy , , 14
do pref nu'l
Wm Cramp t 0 83
PerniBylvanla 574 87
Pli a Klectrlo 27 27K
Phlln Co 414 42
Today Yesterday
ttld Asked Hid Ajked
51 Mi 63 51 68
4 61) 5n 01
40 SH 40,,
Hio iosH lon!f
1414 IU. 03
83 324 33.,
714 71. 71J4
14'4 14 14
14f4 14t 144
sn ns no.,
loll 10 10U
77 7n;i 7j
81 8014 81
? ?1S 5S.I
41 42
u rfl, i .
42J1 42 424
IBS 18 I8I4
103., 103., 10314
4H 44 4
ol ii. S 0
14 43H 44
87J4 871 88.,
85H 85 834
14W 14 14U
3014 BOH 3)114
81 82 83
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
WIIUAT Receipts. 02,305 bush. v.There-was
nn ndvnnco of lc. early In the day, but with
lower outsldo advices the Improvement was
slnco lost and tho mnrket cloRcd quiet. Quota
tions: Car Iota. In export elnvntor No. 2 red,
spot nnd May, ll.12Ml.14: No. 2 Southern red,
S1.10f1.12; atcamer No. 2 red, H.imyl.ll;
No. .3 red. tl.initfl.il: rejected A. tl.00',4 G
1.08'4 : rejected II. tl.or.Wl.07.
CdllN Iterelpta, 17,410 bush. Tho market
ruled firm, with demand equal to the moderate
offcrlnes. Quotations! Car lots for local trade,
na to location. No, 2 yellow, 83(28314 c. :
atenmer jellow, 8114 8214 c.j No. 8 yellow. 7IW
80c. : No. 4 yellow. 7077c: cob, per 70 lbs.,
82 W 83c.
OATS Receipts. 13.488 bush. Trade was
nulet and tho market declined l&c. Quotations:
No. 2 white. filOAllie.: atnndard white. 60V4
SJSlc.i No. 3 white. 484 W4I)14c.i No. 4 white.
47W48C.: anmple oats, 43fi44c; purified oats,
grnded. 48V4 30c.
FLOUR Receipts, 1375 bbls. and 7D7.417 lbs.
In sacks. Trade waa slow nnd values were
largely nominal. Quotntlons. per 100 lbs. In
wood: Wntor, clear. t4.00n3.15: do., straight,
t:.25u,50: do., patent, Sr.II05,83i Kansas,
clear, cotton sacks, 14.7005.20: do., straight,
cotton snckB. 13.2503.00; do., patent, cotton
siieks, I3.0305.iio. spring, (lrst clear, 15.20
SSi l?v. straight. t3.305.75: do., patent.
tp.S.iOO.lfii do., fnvorlte brands. 111.250(1.50;
c ty mills, choice nnd fancy patent, 10,2500.00;
city mills, regular grades Winter, clear, 14.00
S3(.(15: do., straight. 13.2505,60: do., patent.
hVK FLOUR win quiet but steady under light
pITerlnpa. Wo qvNte at 1506.50 per bbl.. as
to quality.
PROVISIONS
PROVISIONS The market ruled firm, but
thero was little trading. Wo quote as folio wo:
City beef. In sets, amoked and alr-drled, 20c;
Western, In eels, smoked, 20c; city beef,
knuckles nnd tenders, amoked nnd alr-drled. 27
028e.i Vtestorn beef, knuckles and tenders,
smoked, 272Rc: beef name. 12880: norlc
JSS'.'Kli'-0'?02?! hnms- a- I'- .cured.' loose.
1801814c.; do., skinned, loose. 1818V4c: do.!
dp., smoked. 1001014 c.: other hams, smoked,
city cured, as to brand and acrage, 1814c.:
, : ., j' ""."u. ,.rii tureu, ,nc; an.,
1 boiled, boneless. 30c: picnic shoulders. 8. P.
curca. looBe. I2c: do., amoked. 1314 c: bellies.
In pickle, according to average, loose, 18c:
breakfaat bacon, as to brand and nverage, city
cured, 10c: do.. Western cured. 1801814c.: lard.
WESTINGHOUSE WAIl ORDERS
LAST YEAR WAS $90,527,000
Company's Report to Stockholders
Gives InformnHon on Big Trndo
War munition orders, booked by tho
Westlnnhouso Klectrlo nnd Manufacturing
Company, the Westlnghouso Machlno Com
pany nnd other proprietary companies of
tho former corporation, amount to approxi
mately $96,627,000. Announcement to this
effect was mado to stockholders of tho com
pany today In tho report for tho year end
ing March 31,
Continuing, tho report says:
i'Thcso ordors Include firm orders, orders
subject to cancellation for undelivered
goods upon tho payment of nn ngreed profit,
also orders subject to cancellation upon
threo months' notlco to stop work.
"It Is Impracticable to report moro defi
nitely on theso special contracts, because
tho deliveries under many of them will de
pond upon tho volume of output and tho
duration of the European wnr.
"Your company owns tho entlro outstand
ing capital stock of this company, which
was organized for tho purpose of carrying
out contracts for tho manufacture of 1,800,
000 army rifles. No shipments havo yet
been made, and no Income has been re
ceived from this source, nor are Its assets
or liabilities Included herein.
"Tho ndvanco cash payments received on
account of tho contracts for rifles have been
.' 1 over to tho New England Westing-
r.n;se Company nnd nro not shown In tho
balanco sheet of your company. The amount
advanced on theso contracts wob $12,037,
B00, and has been Invested by tho Now
England Company vln properties and plants,
Inventories and organization expenses, for
tho purpose of cnrrylng out the rlflo con
tracts." The rcDort shows gross sales of $50,-
269,239, as against $33,671,435 tho previous
year and $43,733,040 In 191C.
Tho manufacturing profltB for tho year
wero $0,429,885, while the year previous
they wero only $2,562,411.
COTTON MARKET SAGSAj
""J UMMAflD IS 8ATI81W
strong Cables Prom Liverpool Am
by Only Partial Respond
NEW YOniC. May 20,-OnlT
response was made to slfo"' l,"1
cables at tho opening of the 1 coiieT nt'
ths morning. Tho tono wWrt2?tt!
prices 2 to 7 points higher; VmftJ
ceptlon of January, which .l , l,M j
a largo extent by Llrpoolahl SSJlfi
scattered, lint nt ,.uL;., " '""aflak1
houses led tho buying wUh a 3?V!
in from commission and M
nouses, aomo of tho purchaiiniriJyi
sldcred to bo calling bV iSSSS "?
After tho early demand had bten Mk2
tho market sagged. Selllne eS,!"3
bo quite liberal, and bStow'tiW Jtj
i.rat ten minutes of trading nrC(i ZMi'
near months wero down 3 to KfiW
mto options held comparatively tttaSrSm
Tho spot markot wan firm, prices aa.'-CiBi
gains of in to 24 wlnti'SKfCTW
wero due to come 1 to 1U MrnWiJi?ml
wero duo to buying by tho Continent -J
Tho setback after the openlnr eaeiSfl
Tho prices steadied at this lev?!. ttrSWS.
owing to somo uncertainty . Z. z?7Zimt
conditions In tho Kmid,,,.-.. . ""!
A good deal of business was In Ui.'SSi
of swltchlnir between n. ,. M
to which thero was cvenlng-up for omfi
week-end, and tho market later In ihlZS.
Ing was rather Irregular. A promS
New Orleans map reader tras j&ld toT
prcdtctlng another cold wet tn.11 1.. m..t
nnd tho omcial forecast was for rtln. iSt
cooler In most sections of the WtiUrn kTJf'
Thero was a little selling of July krf
was saiu to do ror Southern spot lnttreaaii
Yesterday's
Financial Briefs
1454 c:
l4c:
western, refined, tierces. 14Uc: do., do., tubs.
do., pure city, kettle rendered. In tierces,
do., do.. In tubs, 14 Vic.
REFINED SUGARS
IlEFINED SUOArtS The market was quiet
nut ntpatlv. Oiintatlnn. P.I.. flna n..i...
T nnmi a'.. . .... tnxxm mm .miluiairu,
tlonera' A, 7,00O7,S5c,
),ouc
7.707.T5c: con fee-
aoii graaea, u.spw
OTHER OIL STOCKS.
ftaaden Oil
Chalmers Oil
Inter Petrol ..,..,
Houston Oil
Mldweat Her
Uapulpa ltel
M1NINO 8T0CK8.
Atlanta
Hutta Copper and Zlna
llutte, N.OT
Cerro de Pasco , .,,.,
First National
Uoldneld Merger ,
Ileclo, Mining
Howe Sound
Jim llutler ....."!
Jumbo Extension
Kenetlck Ina ,
SlcKlnley Uarrah , ,,
Maama Copper ,...,,...
Mlnea Company o( America ,..,,
Nlplaslns
San Toy ,....,.,..
ftt Joaenh l.ead .
Wilt lind Consolidated
Crro da Pasco Oa
IION'DS.
..Ill
US
LESS FREIGHT DAMAGED
Big Decrease in Payments Made by 112
Railroads in 1015
NEW YORK. May 20. Reports from 113
railroads of the United States for the cab
endar year 1915 show a decrease of $7,626
51$ in freight loss and damage claim pay.
ments. compared with 1914, according to a
compilation reported by the American Rail,
way Association.
The total of these payments In 19H was
$31,916,543, and only $34,290,0!! In 1915;
a decrease of almost 24 per pent. This de
crease, It Is pointed out, was made during
a period In which a substantial Increase
was shown In the volume of freight handled.
That the Improvement along this line has
been a gradual one Is shown by the reports
for the (lrst six and nine months. State,
ments from 9 roads for the. first halt year
show payments aggregating $13,466,088 for
1915 s a decrease, of $3,513,036. Figures
supplied by pne hundred roads for the
period of nine manths show payments
qmountinar to $17,350,06, made In 1915.
or $4411,(70 lew than In 1914 during the
like pwtod1' - - -
DAIRY PRODUCTS
ClIEnSE OITcrlnrs were llnht and the market
ruled firm, but trade was quiet. Quotations: New
J.urts, 1111 creum, jnncy. new, l)tt WIYNc: spe-
ao.. fair to eood. held. 10W 0
part aklms. 118inU "w
UlITTEIl Receipts wero llaht nnd the market
ruled firm, but as usual on Saturday there waa
nine wnoieaaie traaine. c.nfni nna. v.B..
Dui,u'.a, ncu iicamri, innr.
clals. higher: do.,
lis c: do . do.,
ceptlonal lotB hlRhe
3H
specials. aa.
extra. ittvx?i. . Armtm unit?,
seconds. 2DO02OUC I nenrhv nrln. nn.u
n- . ..--- !-.- ..'.-.- "w.
onds, 203Ic: garlicky prints, SilO-6c: Job
bing sales ot fancy prints, 38041c.
EOOS The market was In cood ahape and
firm, with suppllea of desirable stock well under
control. Quotatlnna: In free cases, nearby eitra
2c per doz.i llrsls, J7.0.1 per standard caso:
Pennsylvania current receipts. 0.7fi per case:
other nearby current receipts. 111.00; Western
extras. 23c. per doa. 1 1 Western extra nrata. 17.05
K.SI,niJJ"J'! Kl-IOWOUO Per case; Southern,
10. 15 0.45 per case: fancy selected candled
fresh eges were Jobblns.at 28020c, per doz.
POULTRY
I.IVE The market ruled Arm with demand
absorbing the offerings ot desirable stock. Quo
tations; Fowls, 10U20c, ; roosters, IL'OlBc -aprlng.
chtckena, according to quality, welahlnir
102 Iba. apiece, a403Rc: While Leghorns, ic?
cording to quants-. S0(tP32c,i ducks, as to size
old, iwr pair, 28ac. : do.,
"onrje.
UHICHHED Demand was sufficient to keeD
the limited offerings. of desirable stock well
cleaned up nt Arm prices. Kollowlncr are quo
latlons: Fresh-killed poultry. dry-packed Fowls,
li to box. dry-picked, fancy selected. 22V4c:
weighing 4M ri lbs. apiece, 22c; welahtng
4 lbs. apiece. 22c: weighing 8?4 lU. apiece.
21c: weighing a lbs. apiece, 18020c.; fowls.
In barrels, fancy, dry-picked, weighing 4H
5 lbs, apiece. 21Wc: weighing 4 lbs. apljce.
-'lHc: smaller afzes 17 20c.; old rooiters
dry-plckod. lc.: broilers, Jersey, fancy. 60
85c; dpr; other nearby, weighing 24ja ba.
per pair, 404Bc; larger slzea. a538c.:
capons, per lb. Weigh ng HOlu lba arileca
27W28c.iamaller slzea. sarjsae. duck, .,,?:
spring, 2UWi;c. ; aquaba, per doz. -White
weighing . ll12 lba. per doz.7 1565.23:
wnite. weignmg iu ma. per doz.. M.30W4.00
white, weighing 8 lbs. per doz.. la.BOtfea s
nr rtnT 11 TRffAq. .,' j
HUlOc: pigeons.
joung, per pair.
do., do.
T f.7flfflfl." !..
eo'4 lbs., per doz.. S2Q3.S3: dark.' 12&2 2si
7 lba.
i. nr t
small and No. S. II 01,15,
FRESH FRUITS
Choice stock met with fair sals, and values
generally were well austalned under moderate
om-rlnga. Quotatlona: Applea. per 'bar?
wineaap, lii.DUlM: llamwln, 1384: flr.inina-
tjs.pu: lien uavla. 128: other viri.n..'
?g! Nn;.V. ,'SA?.?J Wsrn. .Per. bo-;:
4. UraDefrult. Florida, nir r, V. "iS-.V."
lemons, per box. $2 US. I'lraapolea: bir eFi.i'
Hico. .-..3l2.70. Strawberries. " J
Commercial failures this week wero 348,
against 335 last week and 430 tho corre
sponding week last year.
The Bank of England reports tho amount
of currency notes outstanding; ns 108,021,
607. airalnst fl07.782.403 last week. The
amount of gold held for tho redemption of
such notes remains at 28,560,000.
Rock Island's cash bnlanco on hand
March 1 was $2,381,804. March receipts
were $8,874,965; disbursements, $9,664,641;
balanco April 1, $1,592,128, not Including
$897,424 special deposits In Eastern banks,
making total cash of $2,489,552.
The annual meeting of Standard Oil
Company of New York will be held May 25.
Gross earnings of 37 railroads during tho
first week In May were $13,608,168, an In
crease of $3,009,261 over tho corresponding
week of last year.
NEW YORK COFFEE MARKET
NEW YORK, May 20. The coffee market
was firmer again this morning, and flrst
prlc.es wero one to threo points above last
night's finals on quite nctlve covering and
buying by commission houses. Sales on
the call were 16,250 bags.
Some new high records were established
as the session progressed In tho coffee mar
ket this morning. On the ndvanco thero
was sufficient profit-taking to check the
upward movement, and the trade at
large was rather Inclined to take a more
bearish view of the technical position,
while, at the same time, recognizing the Im
portance of Btrength In Brazil, where prices
are much above a parity with local quotation.
closo. Open.
March 1.1.53 1R.54
Stay 13,04 13.00
July 13.17 13.10
October 1.1.21 ia.2.1
December . ...ln.n.'i 13,38
January ,...13.80 13.11
AugUBt 18.23 13.20
Spot 18.30
iMr k'T.'O-i
i" tin timtL
!?08 lit) ItJfJ
1-1.20 1103 iliJ
13 28 1S0II 1H
a.ov UZ3
iff,
18
its-
n.3i
Today's Today's Yea'day'a
opening. close. close.
May 8.U5O8.A0
June 8.0D8.71
July 8.75 8.7208.78 8.78B8.74
August H.71) 8.70W8.80
September .. 8.87 8.8108.85 H.838.87
October ..... H.U1 H.tiUWH.01
November ... S.U.I 8.03ti8.li3
December ... 0.01 8.9808.00 R.DSSDS.OO,
January .... 0.05 D.USftli.O.V
February ... '0.10, o.AftQu.in
March &,10 0.1100,12 0.130.14
April .... 0.1700. 10
Hid.
Total sales, 83.000 bags.
Liverpool Cotton
LIVERPOOL, May 19. Spot cotton to.'
nay was quiot ana uncnangca on thi tmi)
of 8.74d for mid upland. The saiu iw."
gated 5000 bales, Including 4000 balciAim
lean. The Imports were nil. The mrtt A,
for futures closed steady at a net tlntm J
of 13 points. .k; -,, .
,slettf, '
inrAi. iTVATJiMnc ihmwIk!
. vuU,..,iuu """"a, ' tfl
, V .1 I
Total for Week $202,078,907, a Gala oif
B3.3 Pnr Cent.
Philadelphia bank clearings fcr-'liet
week ending today total $!02,(7I,I91,m1
against $131,786,937 for tho corrtaptmihff
week of last year, or a gain of 11 1 'ptt
cent. New York banks alone letd,lWs
city, their gain for the week btbj; His
ner cent, over Inst venr. "isS
Comparisons follow:
1010. 1915. . .C
New York . 12.454. Din.281 11.539.401.109-
Ilostnn .... 1711.431,041 124,337,104
Philadelphia 202.078.007 13I.788.MT
Italtlmors . 33.081.351 23.18I.8U-
Chicago . . . 333,402,8611 2St.6SS.101 -
St. Ixjuls . . 82.207,812 e,M3,01
N. Orleans . 22.015,807 13.619,t!I
rjVCU LUICDi -..- iac
5 days .,$3,303,037,128 2.1M,l!,6M.fUj
s'day""6.8: 003.407.043 Ha.lN.TU T
- " " j
m.l)l .11 altl.il 1.
"G d?ya '..4,001.174.77U2.7e6J.MJlHl
A,daytle..'.J 718.470.232 4IH8I4.MI)"rM)
r'oV a,.leCkU!V4.722.0S4,033 ,3,108.m.OM
NEW YORK BUTTER AND EGGHJ
NEW VORK. May 20. llUTTER-kwVjl
tone Btendy. hocelpts. 8009 packares. J.QWM
tlona uncnangea. ....a.
EOOH Fair trading. Tone ateaj
Itecelpts, i'll.iiau cases. "yrf;.
color, 23024ftc; storaga packed, !
024UC.
ft
u
h
n,
RAIROAD EARNINGS
ALAIIAMA GREAT SOUTHERN.
1010. Increase.
Second week May .... 1108,401 113,482
From July 1 4,780,007 (138,310
CINCINNATI, NEW ORLEANS AND TEXAS
Second week May $214,180
From July 1 ,.,,,.,,, 0,403,085
$20,338
l.-'HU,
B3
winesap,
i2.508.5
1.50 2,6
1.2301.7
I'orto nico. I2.2302.75. Strawberries
vicyvNi'-aW7 iie-- T"n'
VEGETABLES
, Tha general market waa quiet and without
Important change. Quotatlona: White potatoes
rer bush. tennaylranla. $l.litOl.1St Naw YS'
1.03O1.10? Western. ILOSWlfld: iS!. WtZS'
per basketNo. 1 Rose. 05ft75c.: No 1 nih.i
varieties, 0375cl No. 2. ao&4l t do Florid.'
per bbl. No. 1. $3.2308: Nil 2? J40S. Sweet
potatoes. Jjraaj-, per basket No. K is Boo?'
So. 2, 25030c: do.. Jersey, Delaware and liJ:
and,
flue. I
Onlona. per lOO-fb. bag,
per hampers-No.
,,n I'lrirlnla
i 'VI?!.',r?.,"", Mary.
,-. !fti do Texas.
cumm.r crata No. I. ll.aaOl.TBi'W" e.7S
12 5003.23 Celery,
l .a. opinacn. na
1 1740
crate,
Florida n ...r .r-J-?(
oMkv-r"i,bi:"itWvw
Watercress, per 100 bunchea, 11.6002 50 li.'
tuca. North Carolina, wr basket iib-.1
Ca pa W-CaJiifA-ii SS
IUdUti:
oqua
choice.
FturiaiiK. nr tinpn... "
Inrtda. nr rrafa li ri.2lV-V
ria."'v ;;r.T: "" io.
12 f8. Aspararua,
1'aill
2.BU
Oil
. r.wl.ua, W, V...V. II Ultll TR n.
JV.U. V, carrier .Fancy. na.,.
Jtmnamr... . - ,,w.,wi
CaTollna. I1.S062.75
jersey,
uc.
ket,
tornla
cfaty -houii,
jwai uo .
f' 4-Jb. Ua-
ey. per bunch Fancy, 20023c!
:s8cVf5,$i1.u'"0' f-
BANK CLEARINGS
Banic clearing today compared with ...,.
poodlrur day last two yar: "" eorra-
iMi
Phi lad
Nw York
loin
, ,aaa,m
7Jt
mm
1E15.
42a
III
m,im
120.058
020,300
1221.023
5,830,042
MOI1ILE AND OHIO.
Second week May ,,,.. 1230.714
From July 1 10,201.110
SOUTHERN RAILWAY.
Second week May ,.,.. $1,830,410
From July 1 ,,...,..,, 110,038,031
VIROINIA AND SOUTHWESTERN.
Second week May $33,808 $4,231
From July 1 1,000,023 107,020
CHICAOO GREAT WESTERN,
Second week May , .... 1822,033 $23,030
From JulyVl 13,183,481 001,470
TOLEDO. PEORIA AND WESTERN,
Second week May , .... $31,014 $8,233
From July 1 ,,, 1,185,030 32,028
i "
Grant Increased Coal Rate
WASHINGTON, May 20. An Increase of
8 per cent. In rates on bituminous coal over
the S. Louis, Iron Mountain anT Southern
Ilallroad from points In Illinois to points
In Missouri was permitted by the Inter
state Commerce Commission today. The
commission refused to compel railroads In
Canada to effect Joint rates with -roads In
the United States In shipping explosives
from Aetna, Jnd., through the Dominion pf
Canada to Concord Junction, Mass.
Sugar Market Inactive and Dull
NEW YORK, May 20. Sugar futures
opened dull this morning, with near posi
tions being 10 to 15 points lower, with late
months being unchanged to an advance of
3 points. Sales on the call were 4C0 tons.
The market appeared to be heavy with
trading. Inactive after the openlpg, due
probably to the dulness In actual sugar.
Penna,, Lighting Increases Dividend
The Pennsylvania Lighting Company ha
declared a semiannual dividend of VA per
May 24. This U an Increaaa nt 14 nf 1
1 Kf. ?"- 'aVttJly. wliteh places tho
rte. lt 3 n,r nui ner annum
r to .'
k-Afaao.:
nm
.fm
Stronger
Investments
Tt.. ......!..-'.. 1 ..rnenerttv o! IB
United States has so Jnctesit
the earning capacity ana i'
assets of many of the coropawr
whose securities we recpinmenli
for investment that, while
securities can still be purchiW
to yield a most attractive retora.?
they are intrinsically stroi
today than they ever have tt$
uetore. ,,
For example, we Invite wqm
for Circular No. L-177. wU
describes a siron nrai "- j
Eage bond yielding over fil 4
per cent., tax free io real
A.B.Leach&Co4
Investment Securitfe
US South Fourth Street
11I.II.Ja,lnhls
iUlWUvlJ""- ..-W V
1
I
New York
Uoston
Chlcaio
London. Has
Charles J. Bender & C
INVESTMENT BONUS
. .......1.1.1. Hicwit EX
orVhamnblI
IHVIDWOIS
TK AMEBICAN Jif"11?
Val M.rkat St.. t'anidta. N. ,
...... ....,..-,. f tt,. tr rWjl
!iss aAwq
SkcSholder. 'Srfecpfd .at .3 o'ca -ejn
I.KQAL AUVEUTISEJlENji.
T...u k. ui.i uanday. May i A" -"
ba Sled by atnne i-
(Sli-ned
r
Mra E J P
DIBECTOKV or aCcqviS!SL
fnlUtrd t'ublle
" ,'ui:inx. . i-flfV!?;
liiaSAJiriTAati iyr-'