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14
BVBKING LEDtER-PHILADELPHIA, WI&DNES&AY, MAY 24 1016.
'. FINANCIAL NEWS
MM
EjC.1
if RADERS CONTINUE TO SWTCH FROM '
' C ONE SIDE OE MARKET TO THE OTHElfc
- - - lmm 4
:pst of Ventures on Short Side, in Expectation . That
localise Thoy Offer Stocks Down Real Holders
Will Let Them Go Still Lower
New York Stock Sales
Jt,it tlose. High. Low.
mt ib) 19
39M 39
22JI 22M
83 81H
09! OS
7JM 73M
00)f BOW
Close.
Sox
39.
22k
82,1
OS
73)1
00K
A , tffoi i'oirtt's m Today's Financial News
tr 2$. t0 ihe ttount f (2,000,000 imported from Ottawa, making $10,r
r ili '"j"""" 'i; ' v. ",,',0 """' o a per cent, aeciarea on
? Brothers a Co jDnon Power oncf Transmission declared
mtlial dividend Hf 2 per cent, on conlmon. Montana Power increased dividend
e common. Child Company increased common dividend. Price of bar silver
higher tn New York and London.
NEW TORIC, JIny 24.
The speculative element on the board and the Street does not seem to compre
hend the fact that the stock market Is one for Investors and actual buyers only.
Tho room traders and uptown operators contlniio to flounder from one side of tho
jniirkot to tho other, with most of their ventures on tho short side. In tho cxpecta
tlon that because they offer stocks down, real holders will offer them Btlll lower.
Where actual business was transacted the market tone was strong today, as
In tho case of Saldwln Locomotive, Chandler Motors and a number of other
specialties In which thero was some special purpose on which purchases wero
bftBed.
The buying of Reading was, commented on ns being of the poorest quality
seen In that stock for a long period and It was a general remark that a numbor
of Issues like Reading, Union Pacific and Erie had been over-bought on tho upturns
of tho two preceding days.
Where professional speculation has been overdone It Is natural that tho
professional buyers should turn to tho selling side on tho shadow of an Incentive.
Thero la nothing in this shifting of position by the professional element to lndlcato
any change In tho market tone, and with bear holdings liquidated tho situation
will become one favorable to the bull side.
Thero Is likely to bo restrictive trading In tho general market, however, because
of the approaching Republican convention, and as wo come closer to Juno 7th it
must bo expected that politics will demand attention of financial Interests nt tho
cxpenso, of security dealings.
Just now tho general hopo Is that the presidential contest will bo confined to
two leading candidates, and If that situation could be assured a brisk upward
niovement Is to bo reasonably expected.
Tho foreign exchango situation has again taken an unfavorable turn for
Europe. Demand sterling sold today at 4.75, showing weakness In spite of tho
fact that gold Imports and security sales have been large In volume all through tho
last two weeks, but havo done nothing more thai partly balance tho continued
outflow of commodities. Relchsmarks wore also weak, checks on Berlin selling
down to 76.
Just beforo the close thero wns a sudden movement In International Marine
preferred which ros from 88 to 93. Reading at the close showed a loss of
4 points.
2,000,000 More Gold From Canada
NEW YORK, May 24. Thero was deposited at tho assay office this morning
an additional $2,000,000 in gold received from Ottawa. This brings the total amount
received on tho present movement up to $16,556,000.
Montana Power Increases Dividend
NEW YORK, May 241 Tho Montana Power Company has declared a quar
terlydlvldend of 1 per cent, on tho common stock, an increase of U of 1 per cent.,
and a regular quartorly dividend of 1 per cent on tho preferred stock, both
payablo July 1 to stock of record Juno 15.
Childs Co. Increases Common Dividend
NEW YORK. May 21. Tho directors of Childs Company have declared the
Usual 1 per cent, quarterly dividend on the preferred stock, and a dividend of 1
per cent, on the common stock, payable June 10 to holders of record at the close of
business on June 2. tBooks will bo closed from Juno 3 to June 10 Inclusive. Tho
lastpayment on tho common stock was V of 1 per cent.
Financial Briefs
AUjvjncetlng of directors of York Manu
facturing Company, in Boston, Wllmot R.
Evans was chosen a director to fill vacancy
caused by death of James Lon&ley, and
George Wlgglesworth was chosen president.
A dividend of S3 per share, payable June
1 to stock of record May 24, was declared.
.
Tho New York Subtrcasurr lost $413,000
to tho banks on Tuesday, reducing tho cash
net gain since Friday to $1,574,000.
The 'Chicago Board of Trade will be
closed on May 30, Memorial Day; Juno 3
Preparedness Day, and June 5, Judicial
Election Day.
Gross earnings' of the Pacific Gas and
Electric Company during , April were
$1,486,638, a decrease of 125.575 as cam
pared with the same month last year. The
net decreased $53,712 to $598,413.
" William Livingston, president of tho Lake
Carriers Association, has been Informed by
the United States Engineers' Oflico that
action Is to be taken to prevent loading of
Jake freighters to such a depth that they
will incur the risk of stranding In Lake St.
Clair channel.
The board of directors of the Pennsylva
nia Railroad at their regular meeting to
day confirmed the appointment 'of Alfred
J, Ball as foreign freight agent of the lines
east of Pittsburgh and Erie, and Frederick
L. Baker as eastern superintendent of the
Empire Line, to Buccecd Mr. Ball. These
appointments will become effective June 1,
1916,t
The Public Service Corporation of New
Jersey for April, 1918, reports a gain In
gross operating revenues of $369,992, with a
balance available for dividends, amortiza
tion and surplus of $350,038, an Increase
Of $84,323 over April 1915, For tho four
months there was a gain of $1,599,235 In
gross operating revnu-s, while the balance
available for dividends, amortization and
profit and loss surplus was $1,582,966, a
gain of $387,880.
New York Bond Sales
11000 A!lh Valley U
juoo Alaska Gold cv n es.10:
Hlah. Luw.
0tt 0U
NEW YORK COFFEE MARKET
NEW YORK. May 24 The coffee market
opened unchanged to 5 points lower this
morning, but soon developed a steadier tone
and values showed comparatively little
change fropn the final of yesterday, There
raa some scattered selling at the start on
overnight, -orders which apparently result
ed from yesterday's decline, but leading
lopgs were not selling much coffee this
morning, and In consequence there was little
pressure on the market.
Today'
close,
8.4UH8.riO
M!08.B3
S.ruftK.M
H.eitts.a-
8, Hi) ft H.I II
8.71) (M.IO
.
Sy ......
14
Auauat . . ,
fNptambar
October , .
HoiMnMr
X2ecaxnbr .
January . .
isssrr..:
April
F1M.
Total
Today's
opnJna.
., x.ru
..8.S5
. . 8 TO
..8,70
i'ii
a'. 80 08.sa
a.ii
B.MH
8.01 1
8,09
.im
Mica. 9000 baga,
XJV.E STOCK QUOTATIONS
1 CHICAGO. Mar 24. HOGS Kawlpts. I4.O0O.
larkst 10. blchar. Mlx4 and buUhara, 1B.7J
O.lOt good heavy, 10.83010.10; rouib heavy-;
. CATTLE y necalpts. 18 000. Market 10c
HL1?yl Ip-ISMIOSO: cows and baiters.
U.lbttV.M; siockm end feeders. I&7&US.
Tirana. 47 40S0.2S, calrea. t8.TSOU.5Q,
eKKI IUclpta. 1700 Market steady, Na
live and Western. KtSJ'J.aq. lambs. j:;.(0.
' ' i" " ' r
No du Pont Company- for Canada
WILMINaTON, Del.. May 24. Officials
of tbe.du Pont Powder Company deny the
ttory'frojn Montreal yesterday that Ihe
company had perfected ijlans for a $10,Q0J,.
990 subsidiary company to, b operated ex
clusively In Canada. The. olflcUili'furtbr
state that the Canadian Eiploslves-Cwn-sany.
Limited, is not connected 'with th
Uwl concent
NEW YORK BUTTER ANj? EGGS
KSW YClJtK. Way 21 BUTTEIV Supply
mi j- excMOea ceiiijuq ana vri&a. tuclmad.
i( BB4 paiKap g-r swannery ao
hiifcsr xooiiaz. SOW Willi Btata
... T EL' , , . -. . ..- .A.1f
we . lauuwja Emainmrx. iwi'
siKfa 4tfi4H aagrar eaur
JMtSB -2,1- S
i t4Cecl urtj. ;.j vi.
tic
iTit
HIOOO Anglo French S OSTi
7U00 Amer Tl clt U U2't
.SaooOAmer Tel cvt 4. 10T
1000 Amer Writ Pap 3a. . 78
1000 Ann Arbor 4a 05U
i"Sn A.rm.?ur Co Via .. . U3
3,.r,on Atchlaon cen is v3
1UOO Atchison res 4a ,
7000 Atrhlson artj 4a S.1J
30000 Atchlaon cv 4a 1HU0..10U
3000 Atlan Knox & Cln 4a 86i
1000 Bait 4 Ohio 3Va... ai
7000 Bait i Ohio 4a!..... 1U
71000 Halt & Ohio cv 4Ha 0BU
JOOO Bait A O awn 3Wa.. lo2
3000 Halt 4 Ohio 3a. ...100(?
W Beth Steel lit 3a... ,101
1000 Beth, Steel rtd Ba ioijl
100(1 Brook Vn Gaa lat .la. 10(14
1000 Buah Term Illdsr 5a.. 87
20()() Hush Term Hide la.. 87(4
4000 C G C sen 4a hoi,
U00U Can Oov Sa vr I IOI'S.100
laooo Can Gov na w I 1031.100
i'UOOO Can Oov Sa w I 1D21. DOTi
1-J0OO Cent leather lat 3a..lOL
flOOO Cnt Pan lat 4a no
1000 Chill Copper 7a ,...120W
1000 Chea & 6hlo cv 44 a. SZK
100O do -Hi a us i
400O do 3a 103
10000 Chi Ot Wait 4a ... 71H
loot) Chi 4 Nwn 3 a ...10.1.
lODil c N deb Sa 1021.. 103
74000 C 11 4 Q joint 4a . . 118K
000(1 do Kn 4a 03
10OO G II 4 Q III 4a 113
auuii u M & fit i 3Via
2000 do 1025 4a
2000 do 4a
7000 da cv. 3s ....
3000 da cv 4Ha ...
looo do rfd 4Ha ..
1100O CM Itwy Sa ...
11)000 Col Midland 4a
34000 do ct 4a
11000 Cona Ham ru II. I'M
30000 Del 4 Hud cv r.a ...107(4
1(100 Den 4 Rio Or 1H .. Kit
0000 Den 4 nto Or rtd r.a . 71'i
looo Detroit United 44a H2I
10000 Dla Secun Corp Sa .. 7.1?I
1000 K Tenn V 4 O con Sa.ln.lS
looo Krle conv 4a Ser D.. 77W
1000 Erier prior 4a .... 83
63000 Erie cv 4a 8er D w I 87U
(Socio Green Bay 12
S000 (Jen dec deb Sa ...ln.1
SOOU Iludion 4 Man rfd Sa 7oH
nooo 111 cent rfd 4a h9H
1000 Intarb Met 4Vaa . .. 73't
3h000 Intarb II T rtf Sa . mS
43000 Inter Mer Mar at 4b a 101
3000 Intaml Paper ct 5a . 73i
2000 Jananea lat 4Ha 8IU
OOUU K C Ft B 4 31 Oa: .110
2O00 Kan City So lat 3a... 03
100O Kinca Co Etev Ha 1007 117
7000 lAclia Steel Sa 1023,. I)9H
1000 Laclede Gaa lat Sa. . 103
B00O Ijike Erlo 4 W lat Sa. P8U
12000 Lex 4 A Sa lOO'I
7000 Irlllard Sa , 100'J
2000 Minn at P S 8 M 4a,. I3U
nooo Mo Iton T lat 4a... 77ft
2000 do Sa.. ! fllS
.1000 Mo Par cv Sa 47'i
200(1 Mont Pow Sa. ...... 07S
HrtiMio N Y C 4 II 4a......! 01
SUSOO do Aa... ,,...114Vi
IOOO do 3 Via.. 824
iiiiiii ao con 4a
13uu() da
GSH
100V4
of
120i
834
iim il
1U.17 Al'O'
MS
: ssa
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.lrnw
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1BH
14
1141 114V
D2H 03M
10KH 108H
lilt; 101H
04. 04H
S3 It ?!fe
L07V4 Uln
8(1 H6
71! lib
821 82S
7.-.J? 7BS
73V4
Sll,
nooo n y chi
M 4 I
. r 4
117J4
103
OH'i
100 Va
mo;
77
4B7?j
U7S
l V.
Ill
82
83 U
04
03 W
100JJ
1024,
10TJ
3
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Hsu
02!
l((Lli
acme xei sa..,. ....loov
opna gen ct 4Ha., I01J1
da en 4Ha iosii
,da 4Vs l2l ..,.,,1014,
eo 4 Kaat lt 4s. . 711V
S5',J
U4
St r. lat '4a. IUK
4000 N Y Cllv 4a Hi.Ml lanli
ariuila J a I J liwi.i 'I..aiv
13000 do 4'la lUft3,'..t,)U7(a
O00 do 4Vja I9e5...;,;l07-:?
WW. N Y Oaa H 4 P 4a.., 83'i
3000 do Sa .1033
2000 N V N II 4 II 8b;...112V
siu t nwy aoj qa...... OH1
-iiiui; im x -rel Ken 4j"
uu., nor t-ao prior 4a...
r.OOQ da sen Sa
4S0OO Or wy 4 N con 4a 02
1K00O-Pacific Tel Ba...,,.,..100
-" -unna aeii cs iy.
uuvu
4000
(iniin po
IOOO Puhl c airvNl Urn... n.1
21000 Reading- sen 4a..,., . U3U
21000 Uep Ir 4 8 Sa. ..'.,., 08W
30d Klo Qr 4 W clt 4a..! 7S
iuoojtoH Island 4a 8j(5
7000 do rfd 4a 74
150000 do sa ....'.,..:.:. o
J00O do a ..,..! 101
1000 St L I M 4 8 gen Sa.iOl
VIMUi Ma ll Jb tin
wuw u ui) - .,..,.,,,, ujs nu nji
lSJOOOtI, 4 S P sen, ct... t4 ejVi B4
JSpoO do rtd ct ataA4a... 73 73 73
133000 da In w 1 42?i 4' J'Jti
274000 da A w I I.. 70 3t, OOtt
280000 da adj w 1 I Aoii 7i? n2
180O0 do w I ".'... 1, J 0tf fl
2000 do n w 1 ... 87 M MU
JS22 ,' a p ifi ii:: SP St1 St4
3000 da lat 4a 77ff 77f! ?7
4000 Seaboard A t udj Sa. Vl& klii nil!
7000 do fata U ... ... I2 22 27a
7000 do i(J 4a Sq'4 iH SI
2(1000 South Fac cv 4s
12000 do cv Sa
1000 do rfd 4a . .
25000 South Rwy (en
700U South Itwy con
8000 Third Ave adj Sa
101H 10IW
93 S3
U8V4 08W
m ii
77 7
101 ; 1014
100 ioo
4a
88i
J03
SOH
m
Sa
1UUU 11 h tmv
A..T m, -.
IUU4I U
49000 V
Toklo
H
8
Rubber Sa
8 StMl at Sa.
77
00 U
102
103
..oou y B Bll ree at SJ..104S 104K
19 Ha)a Pa-r ?' '' W
auyu un nwya H 4a Sflli
c A c lat Sa . K
-"
6000 va
1000 vZ
touo wai
llSw W&Mli&s
1000 W.ba.h lalSl
: u at
a
4a tiK
rs 4st slU
VvVm t lOfS
kXU TV
m a
Una, fm
AdTunco Jlomelr
Adt numlay pf 39H
AiaMta Hold Mlnei 22JJ
AI1I0. Mfipf 81H
Am Ag Cnemical 00
Am Bntfjuftar ., 7,1)"
Am Beet Bttf m nf . . . ... On
AmgrakoS&F. ... 100X101 1004 10014
Am Can JO 66U fiOK COM
AtaCaJipf.... luK HIM 110M HIM
AmCrArMy 01 02M 01 01M
Am Coal Product- ..ISO iBR'f ir3f lfi7
Am EtprtM ,..128j 125 123 125
Am Hldo A Leather .... OH 9 0 0
Am IceSccurltlM 2S5i 2SH 28M 2SH
AmUneed... ,.. 22J4. 22M 22M 22M
Am Unwed pf..,... 49H 49M 49H 40M
AmLocflmotlre 7W 7314 714 73M
Am Locomatlro pf 10UI 102 101M 102
AmSmolt Iter.., 101 103 100)4 10UM
Am Smelt A It pf.l...11.1M 114 114 114
Am Smelt pf A.. ... 04H 04M 91M U4M
Am Bleel tToandtlei 62 52)4 62 62
Am Sugar rterininj Half 11254 112H 112M
Am Tel & Tel 129M 129M 129 129M
Am Toboceo ....200 200M 200M 200M
Am Woolen 45 45)j 46H 45H
Am Woolen pf.,.,..,.. OSM OSM 08W 08M
Am Writing Ppf 1S14J 18M 18M 18M
AmZIncLASm 87H SSK 87 88
Anaconda Cop M 83)4 8SM 8.5M 85M
AtchTop&aP 100M 100 105J4 105M
AtchTopASPpf 101 101 101 101
All Coast Une... H2'f 113 112W 11.1
nald Loco WU 88l I11H 83f 00)4
naid loco wk J pt. , 109 no no
DattAOh'o.. m) !tt 92H
Halt A Ohio pf 70 76M 70)4
ltatopll.it Mlnlnf.. 2!( 2, S)4
Dethlehfm Steel ,...394 442 442
DrooklTn napTi.., NOJf S7 87
Drown Shoe 60 54 68
Hullo A Superior 95 04J 9-1
Cal Petroleum 22M 23M 22M
Cal Petroleum pf 60 63 5US
MOTOR STOCKS JUMP
. ON NEW YORK CURB
United Advances Fast; Saxon
and Chevrolet Go to
High Records
Canadian Pacific ibOM 181M 160
110
92M
70M
2,'f
442
S7
68
IM
22M
62
no
5-lJf
Central Leather 64 64M 6tlf
Chandler Motor 100M 105 10 14 103)4
ChraAOhlo 03)4 03M 0314 03)4
tmie copper 21)4 21)4 20J
Chlno Copper 63)4 64M 6:iH
Chlcaso 0 rent West 14lf 14)4 14)4
Chi Great West pf 3M 3M 'M
Chi Mil A St Paul 100M 100U 99
Chi M A St Ppf 129)4 120)4 129H
CM A Northwestern. ...130)4 130 130
Chi 111 APac 19M
21M
44)4
141
98)4
94)4
8G)i
15)4
2S)4
Col Fuel A Iron 44
Consolidated Qas 140
Continental Can 97
Corn Pro J Hef pf 03
Crucible Steel 83M
Denver A Klo Or 15
Deo A Rio Gr pf 2SM
Detroit Edison 131
Distill Sec Corp'n 51X
Dome Mines 20
Eric JO
Krlc 1st pf C4H
Gen Chemical 323
Gen Chemical pf 115
General Kelclric 172) j
General Motors 515
General Motors pf 11834 US
Goodrich 11 V 76)4 70)4
20)4
63M
11)4
:
1)1)
129J,
130
2034
43)(
10H
435
13954 139M
905 08J4
01JS 04)4
84 SOX
14?i 15
2S 28
134)4 134)4 134)4
61!. 51 51
20)4 25)4 20
39)4 38)4 39
54) 54 54
325 320 325 3
117 117 117
173)4 173U 173)4
520 515 520
118-
70
Grccde-Canjnea 47'f 47f 47
Great Norteernpf 122)4 122M 122V
G N cfs for ore prorj ... 41
Gulf States Stool 75) i
Gulf States S 1st lit 06!i
Gulf States S 2d pf 70M
Illinois Cent 104
Int Con Co v t csh.... 19
Int'Con Corp'n pf 76
Int Paper 10W
Int Paper pf 47
Imp Con Cop 45U
Int Nickel v t cfs 43M
Int M M cotdep 25)f
Int M M pf col dp.... 89)4
Jewel Tea 88
Kan City Southern 20)4
K C FTS A M pf 68
Kelly Spr.nc Tires 723i
Kcnnecott Copper 55J
Lack Steel Co 71
Lake Erlo A West 14
Lehigh Valley SIM
Lee Rubber Tiro 4SM
LoriHard P Co pf 110)4 116)4 110)4 116)4
M ackey Cos pf GS ' C8H 6S)S 08)4
Manhat Elv ctd 129)4 120M 129X 129)4
12
73)4
96)4
77
104
18)4
76
l())i
47
45M
40
21M
f3)4
89
20)4
70
71 54
55)i
714
IDS
bOJ4
6054
11M
754
90)4
rou
118
70
17
122U
42
75)4
90f
JOM
103!4 lt3lf
1)4 18)4
0
10)4
47
45W
45)4
24
b8)i
88
20)4
70
71)4
6554
70)5
14
79)4
IS'i
0
10H
47
15)4
45)4
2134
92J4
89
2034
70
7154
65)4
70)4
14
79J4
503-.
Manhattan Shirt Co
Maxwell Motors ,
Max Motors 1st pf . ..
Max Motors 2d pf ....
May DcptStorej
May Dept Stores pf .
Mexican Petroleum ...
Mei Petroleum pf ....
07
8S
90M
59M
07
07M
885X
91
59U
C7J4
07
87
OOM
59
07
67)f
87
90)
59
07)4
.107M 107H 107)4 107H
.1111)5 112 109M 111
07 oa
Minn St P A S 8M ....124)4 122)4
3(5)4
4)4
12
0)4
6Jf
70H
Miami Copper 36)5
Mo Kan A Texas 4)4
Mo Kan A T pf 11J4
Missouri Pacific 634
MoPactrcfs 6)4
Montana Power 7934
Montana Power pf 113)4 115
Nat Enam A S Co 23)4 23M
Nat Lead Co 07
Nev Coo Cop 17J4
New York Air Brake. .. .133
NY N H &H 62)4
New York Central 107
Norfolk A Western.,
North American.
96H
122)4
36)4
4)4
12
6t,
6)4
70)5
115
23 M
07M 67)4 07)4
1834 18 18)4
1305f 135 135)4
62 GQV4 61!f
107)4 100)4 100)4
90)4
122)4
30)4
4)4
12
OH
0)5
79H
115
23)4
07)4
125J4 12534 123)4 1253,
69 09)4 09 09)f
Northern Pacific 11414 114J4 113)4 113)4
Ontario Silver Mln 9 0 9 u
P&clIIc Tel A Tel 34)4 34 33)4 33)4
Pacific T A T pf 07)5 07 97 07
Penn Railroad 5S35 5834 58 68
Philadelphia Co 41)4 40 40 40
PCCAStLpf 03 1)5 95 05
Pitts Coal N J pf 103K 101)4 103)4 103)4
Pressed S Car Co 4(J5 47 465 47
Pressed S Car Co pf .... 1003 i 100)4 100)4 100)5
Pub 8 Corp N J 131 131 131 131
Pullman Co 103 160 105 165)4
Quicksilver 2J4 2)f 2)f 2)4
RySleiSpCo 40)4 42 41H 4134
Ray Con Copper 2334 23)f 23)f 23)4
lleadlns 10834 108 103M 103)4
Reading 2d pf 48 48 48 48
Republic Iron A 8 47H 47J4 474 47X
Republic I A 8 pf 11U4 HIM 111)4 111)5
StLASF2dpf 0 6 6 6
Seaboard Air Line 17)4 10)4 10)4 16)4
ShatAruCop 32)4 32)4 32 32
Sloss-Shef S A. I 54 53)4 53)4 63M
Southern Paclflo 10034 101)4 100)4 100)5
Southern Ry 23)4 23lf 223 23J4
Southern Rypf 67W 60 60 68 .
Studebaker Co 143'f 14434 141H 141X
Studebaker Co pf Ul 111K 111)4 111)5
Ttnn Copper 40 40 40 40
Texas Co ..103 101 102)4 104
Teiu Pacific .....1234 1234 12)4 1235
Third Avenue 63 62)4 62)4 62)
UndetTypcwj 10534 10434 103 103
Union Bag A Paper 634 5)4 535 5J5
Union Bae A Paper pf . . 30)1 30M 30)4 30J5
United Cigar Stores 07 07)5 90 0H
UnlonPacille 141M 141)4 140)4 140)4
USIndAlchol J67H 159)4 167 158
U80IPAP 22)5 21)5 31 21)4
United Ryi Inv Co 034 10 9 0)(
Un Ry Inv Co pf 23 31 21 21
United Fruit 157M 159 157)5 169
u a itunoer., 54i
U 8 Steel Corp'n 84)4
US Bteei Corp'n pf.,.U7
USb'Dl H AM 75)5
UboHtUpl 62
Utah Copper,
Wabash
Wabash pf A
Wabash pf 11
West Union Tel
West E AM
Western Maryland ,,.,.
Wheel & Lake Erie..,.
Wheel ALE lstpf...
WheelALE2dpf....
Willys Overland 275
Willys 0 pf a r t p 107
Wisconsin Central 39)4
80)4
15)4
60
28)4
04)4
02
32)4
5)4
15
0)5
85)4 84)5
117 117
7534 75)5
61M 51H
81 81
15)4 15
5034 49)5
20)4 28)5
BOM 04)4
OJ 62)4
32M 31)4
5 5
19)5 15)5
5 5
276)4 271
107 106
30)5 39)5
65
r5
117
7534
61M
81
lfiH
40H
28)5
05M
63
3 IK
6
15)5
6
273
107
39)(
DIVIDEND!!
OiflCE OJfc
TUB O. U. GEIST COMPANY
LAND TITUS UUIUlLNO
Philadelphia, Pa.. May gSd. 1818.
The Directors el Ptwn Oaa L'ampauy have
this day declared a regular quarterly dividend ot
sua awl one-half per cent, (11.60 per ahara).
pa the prefernd atocii of tha Company outatand
ln$. payablo June 1, 191B, to taoldera ol record
at ! w of bualneaa thlj date. Checks will be
mailed. C. jL WEAK" Secretary-
THK AUKBIC4N GAS C01IPANY
WF ilarkTl St., Camden, Njl.
lt.
A. auartirly dividend at x. ir
share, his been declared on the capful stock
of this Company, payable 1aat 1st. liloY tothe
atockholdera ot record at 3 o'clock p. m.. lay
Itih, lain. Chaeka will U rnalltdT
J. B. TOWNBEND. tt Treaaurar.
DIllECTOatY OP ArCOl'NTANTS
CtWa4 PoWJsJletoanUBta
NEW YOfltC, tny 24. There was a con
centration of speculative interest on the
Curb today In the motor Btocks, partly duo
to syndicate operations connected ylth the
arrangement for distributing United Motor
nharcs.
Thnt stock, which had been preesed for
ealo constantly slneo itn appearance, re
vowed its movement, advancing from 64W
to 70 with buying orders scattered among
a large number of brokers and with the
tuylng accompanied by predictions as to
how high this stock -would go before this
movement ended.
As fnr as could be seen, the advance was
simply a change of distributive tactics,
the conclusion apparently being arrived, at,
that as the stock could not be sold on a
declining market, It might bo easier to
find buyers by forcing nn nivince. t
Thero was a continuation of the record
breaking movement In Che.-olet, which
roso to the now high record of 24 S. Peerless
wns nlso made active and strong and ail
vnnccd to 27. Saxon, on which the Initial
dividend was dectared only a few days ago,
advanced from 79 to tho new high record
of 85. Thore wns some reallxlng In Flem
Ian-Lynn, partly against arbitrage of tho
purchases of Lynn Phonograph last week,
but that stock maintained a firm tone in
face of this supply and sold at 6U to U
Metropolitan Oil reflected the Influence
of the denials of recent statements about
Its contracts and ranged from 33 H to 23,
Pronounced weakness continued In Cuba
Cano Sugar In spite of conditions ot largo
dividend payments and tho price sustained
a further decline from 57H to 55. At
lantic Gulf and West Indies was Influenced
by the weakness of the Marine Issues on the
board and sold down from 424 to 41.
Monaton Sliver was the most active of
tho mining stocks, selling at 3&- to 2V&.
Mldvalo Steel was firm with transactions
at Gift to 61.
INDUSTRIALS.
Sales in Philadelphia
Allta Chat
loo Am IjOco..
nn Am Dm I
in hairl ixtpa 0
104 Hurt A Sua It., AO
no Cam Iron. ..... .4.1
SO Com Steel..,,, m
140' Crucible (teel.
iBRJS "IT,.::
r. 1" .". 'Mill
M Al ! C.. aa
fl I C i'-',l
4WU tvrji
7K,
i...imtmcm
1.1
n,,
o pref
1(1 ffonnn L'nn .... RH
800 I,ake Sup Corp. 10
in kv Pr nrd... 77
I8a lvh Na 77
B3 Nortn ucnt
1041 tlmv Cnnn
SRTaiiff'iIiM;
an r Rtn.1 (id,. US
100 Phlla Co ..... 40
832 Phlla Electro.. S74
sun iF it i ir ciia..i
nun ii.rftni, ..in
!.1 no Purine .... 384
Net
is
L. I
SS r.:..
lh ?w
nhi
8 . SY., l
rc m m h
a ion) ioojj t....
nsH ASM ii.-
?
InaV. lo:
su 2
WABASH REPORTS GOOD EARNliiT
' PENNA. RA1JUKUAD FUEL SHiPMg
Reading Breaks Sharply on Profit-Takini? tr
nrr "s:.r,wuena n
vjuiuinuu QIUCK
n
8(0 Ton Bel ...... .' 4,s ,M'Til"
80 Union Ttao ... 4S74 H8Ji 4SH
SHU O I ..,,,.. 8S B71 88 H
85.1 US Hlejl ...,8J)4 M M J);
1 do pref 118S 1I? ljOJ -T if
805.1
Stn It H Itnbher , . (in
iO Wabaah pr A.. (10
20 Warwick Jr ft 8 Kltt
181 Cramp A- Sont. 8.1
280 Tork Itwy pr.. ao
BONDS.
Hleh.
MOW) Am O A E BS...08.,
1 own llald toc lat na.ioi'i
.1000 City rrn- 4a '48.102i
4000 Klc Peo Tr 4a ().. SO.,
1000 Key Tel lat na., ns't 8't
2000 I.h VI gen 4.. 3 l
1000 L.V en 4H '0.1.100)4 100M
14000 do, Drex rets ., ...,
414a ........ 100J4 1004
0000 Pa Co en lUa.101 lOlH
1000 . do cona 4lia.l01 10S
IOOO Puh Srv Cm Jla. D .1
IOOO Fhlla Elca C,.104!4 104H
8.1 HB
6K
i ? :
so
, 4
Net
Close, change
??.. T .F
S
n m i
80 ,
IJt
SHU.
100)$ ...
17000 Heading- sen 4a
louu Bern ity prd t
100.S
101
10S
".
-At
5
104 ...,.
oiH
8.1 ...,.
Local Bid and Asked
8"
i?
3
41
S'J "
(17
8.1
40
8(1S
48
Aetna Explosives
AJax Itubber Tire
Amerlean-llrltlah MnnutacturfliK.
Amerlran Marconi
Atlantic Ouir A IV I
do pref
Canadian Car Co...
Can Car Fdy pref
Chevrolet Motora
uba Cane iinr.vr
Ciirlda AeronlAne ..............
IrlEta-8eanury i.iu
Klsenlohr Toboceo 42
do pref 0
Ilmeraon rhonosraph 12
Flemlnh-I.ynn 'li
Haaanll & SarKer Car 8.1
Hendee Manutncturlna 2.1
Inter Merchants Marine 24
da pref N
Kathodton Bronzi pref IP
.Maxim Munitions 7'i
Manhattan Transfer 1U
Met Petroleum 23H
Mldvale Steel , (11 H
Otla Elevator .' no
Peerlesa Motora 2
Perlman Itlm 13,1
Pools Enx OS
Haxon 84
H H Kreace w I 12
Standard Motora .8
Sinclair Oil 48
Submarine 88.
Triangle Film 3U
United Profit Sharlns , Ta
United Motora (W'i
U S 1. & II cam 2H
do pref 4,
IVhlte Motora fjdU
World Film 1
STANDAP.D OH. STOCKS.
Illinois .107
Ohio 234
Prairie Plpo 210
Standard Oil of California 240
Standard Oil of New Jersey B13
Standard Oil of New York 210
OTHER OH, STOCKS.
Coadcn Oil 28
Chalmra Ou, 4
Inter Petroleum ., lnH
Houston Olt 17)?
Mtdireat Hef 07.
Sapulpa Ref 11U
MINING STOCKS.
Atlanta 12
nutte- Copper & Zinc 7
Putts & NY 2H
Cerro ls Paaco 3.1VJ
First National n
OoIdHeld Merser 13.,
Hecla Mining 4H
Howe Sound ft
Jim Butler 0(1
Jumbo intension .' 90
KeneOck lnc 13K
McKlnley-Darrash 02
Xfmrma. CnnrMr .................. IM
Miles Co of America 2S
Nlplsilnc Mlnea Co 74
ban l oy
St Joseph I.ead
Weat End Consolidated
BONDS,
Cerro Oa
Chesapeake A Ohio Sa
Mldvalft fs
Ex dividend.
. 1
lDii
1 3-32
.114
. 91
. 08
01
Asked.
ik
8.1
72
PI)
248
mitt
MS
131
48
UR
12)i
(lis
87
2H
2fl
ll
21
J?
H1J
02
27
137
10(1
8.1
:i;
so
I
1
70
s4
B$
160
23(1
218
301
212
28U
fa
08
12
13
i5w
A
(1
I
Ww
(13
1(1)1
.1
1 S-33
110
r3
oon
Buffalo A Susi t c .
on prei t c
Ilrlll J U
llaldwln
do pref . . .
Cambria Steel .....
Clectrlo Htorare ...
tlenernl Aaphalt ....
do pref
Key Tel ..
do t o
do pref
T.nlio sup Corp
Leh Xnv
l.eh Valley
l.eh Val Tr
do pref
Pennsylvania
Phlln Electric
I'hlla Co
do (5 per cent. pref.
do (I per cent. prof.
Phlla It T t c
Rearilna
Tonopah Bel
Tonopah Mln
I'nlnn True
tr o i
U 8 Sleel
York rtwy
do pf d .i
Wm Cramp t c ....
TodRJ.
Bld,.ABKed.
r.8
. . ;ih
.. noil
. .10i
. . 82
. . 03
.. fo
.. 11
.. 14
. 0 18-10 10
r2
0(1
71
m
m
Yealerday.
Bid. Asked.
nili n;
7n
. 21S
. 48
. ns
. 27 !4
. 40
. an
: ?
.108'4
.
. 43S
. 8H
. 84T4
. 14
. 3(1
. 82
77U
2
43
BS
27
41
40
42M
18
lain
43ti
83
nn
38
88
1011,
s&
32
70
m
08
10
7(1
43
r84
274
41 'I
3D
42J4
17(4
1(1
4
m
87?;
8.1
14
3SH
81
no
40
i!S
nt
??
1
An
loVi
11.
m
40
?
08K lnsK
K 4 11.10
rtM, fit
German Bank Statement
BERLIN, .May 24. Tho weekly statement of
the Imperial Bank of Germany ahowa;
May 23. r10 May 10, '18.
Marka. Marks.
uom reaerve
Commercial paper
ana ireaaury nun
lis S.010. 000.000
Circulation and . .
banktns- notea.. 0,838,000,000
Private depoatts... 1,600,000.000
2.402.000,000
5,031,000,000
6,842.000,000
1,642,000,000
DIVIDENDS DECLARED
Borden's Condenaed Milk Company, reruUr
quarterly of 1)4 per cent, on preferred stock,
payable June IS to holders of record June 1.
Frecport Gas Company, regular quarterly of
1V4 per cent, on preferred stock, payable June
1 to stock of record May 23.
National Sugar Refining Company of NevJ;
Jersey, rcitular quarterly of VA per cent., pay
able Juno 3 to stock of record June 7.
United States Industrial Alcohol, rexular
quarterly of I9i per cent, on preferred stock,
payablo July IS to stock ot record June 80.
Interstate Electric Corporation, resular quar
terly ot l per cent, on preferred stock, pay
able Juno 1 to stock ot rocord Muy 24,
Oreat Northern Iron Ore properties. 80 cents
a share, nayablo June 27 to certificates of In
terest ot record June 10. Books close June 10
and reopen June 28. For the last three years
there has been but on 50-cent dividend each
year declared In October.
I
Good earnings for April and for the 10
months of th flscnl year are reported by
the Wabash Railway, which la a continu
ance of the good showing Mn previous
months. For April the gross return wS
12,084,860, an Increase of $641,075, while
the net Showed nn expansion of $678,030,
totaling $876,96$. Tho 10 months' gross
earninga were $$8,S1,130, a gain of
$4,242,304, nnd net rose ' $4,368,991 to
$S,98S,t?5.
With the exception of anthracite, the fuel
shipments over the Pennsylvania Railroad
east of Pittsburgh and Krle during April
showed gains ns compared with th same
month of the previous year. The toval
shipments for tho month were 6,900,212
short tons, a gain of 683,043 tons. Anthra
cite shipments felt off 360,160 tons to
766,64ft. From January 1 the shipments
total 25,626,249 tons, increase 6,578,822.
Arbitrage Issues occupied the greatest In
terest on the Philadelphia Stock Kxchange.
today. Trading In those Issues was not
active; however.e In the homo shares very
tn.,. .
""" was done, For !,. - ,
rnovemanta ,.i.: .' " JrioK
lower levels. ?Xil'm
Being Reading. '"w to Un,
an Initial Hi.ElX .Co:IlM.. wZ
common stock. Tha aiJt ti
Junk IK ..r!,.v-fn alVldsn u .?
Early In th.l ?' &?
o7 ffl '5S& "sffTWSttfi!
trlbuted this decline to iuJ"
must be expected "n ?? BJ-1
tho Stock h. ,.'.," J"w 't tit S-Ti
Advance. u "" ""POomV
Tr1 oral. ...... . .
tavSXtsn
S?-.' B.1. "'..' t-otnu ?l
.,..M rau ana a nw . - ua
LOCAL MINING STOCKS
TONOPAH "STOCKS. . .
Bid
Jim Butler t .03
MacNamara ..................... .12
Mldvray 34
Mltpah Extension 28
Montana .................1...... .32
Northern Star .18
Tonopah Belmont AMI
Tonopah Extension (1U
Tonopah Mining . UH
Itesrue Eula ,48
West End t...l.l2
OOLDFIELD STOCKS.
1
Ask
:sa
Atlanta
Blue Bull
Booth
Bulldog;
c o u
Combination Fraction
Dtamondfleld 13 U ...
Daisy
norenco
Goldfleld
fiolnfleld Meraep
Jumbo Extension
Kewanaa .
Oro
Sand Ken
Bllver Pick
.03
.20
,01
.00
:8S
5
Goldfleld Consolidated . .03
.VI
Falrv Aztec
Klmberly ,
Nevada Hill
Nevada wonder
MISCELLANEOUS.
i
,11
.80
..18
.04
.OS
.08
.Ot
.02
.20
2.10
.13
.28
- .29
.34
.20
4 1140
8!
.4
1.1c
.13
.04
.23
.02
.05
.10
.08
.00.
.47
.05
.12
.02
.14
.08
.06
.09
.03
.08
3.20
100,981 Dales of CotrrT $
,d during the W,tk ended
principal customs district it nil
SUte, follows! Oeorala, jiSM
setts, 62601 Maryland. ((.(. '.?
7080 i Philadelphia. 943. oSJmS
Washington,
August
Orleans, sa.aso; San J. v,"tf
iington. sji .; wlnjjftf. m&
st 1 exports were UjT.toj1' Tri
GOVERNMENT DONDg
2s reslstered ibso .....
2s coupon 1080 .....I!:':';""
8s renlslerert.lnts .....";'"'
Si coupon 1018 ...::!!;;.!""
4s reslstered 1023 , '""
ranama 3s reilatered lsJ'',':."V
Panama 2s resistarad i51J ' " J
Railroad
Stocks
Desirable Investments
Wo specialize in tho conservative
bonds of well established cor
porations supplyinp; electricity,
gas, transportation and other
public services in prowintr com
munities. Many of these bonds
Free of Taxes in Pennsylvania!
A list of those now on hand will
be furnished on request
Edward B.Smith & Co
EsTABLisnno 1802.
BANKERS
Jemoer Hew York and PMIa&ifpMa
Block Exchanges
1411 CnisTNBT STSEor, Fnnasn.rnu
80 pins Eibutt Ncvr Yoxs
Last week we predicted a
continual advance In rail
road stocks. The market
vennea our juagment. A
careful analysis convinces)
us that this advance will
continue.
Keep Informed by calling
our Mr. Knoll, Lombard
1385, Main -1433.
Wo buy and sell only In
your Interest: we have no
favorite stocks.
DANBBRS A DBOKEBS
'6th & Chestnut Sts., N. E. Cor.
Members of r-hlla. Stock Exeltance '
Direct Ttlra to Nr Yotu
flOO BONDS
An Absolute First fjlotri
Mortgage Public UtilitjT
Investment
Outstnndinc for thirteen ytuu
Earning about 2 time 1Mb.
terest w
Tax rofund in Pennsylvania.
Price to Yield 5.40
A Detailed VetciifUo ott ,Mt.
RAZaERGi
INVESTMENT BANKERS
Broad and Sansom Sit.
PhiladelphU
Wo own and oiler, subject to'lejaSty,
$150,000
READING, PA., 4'i
Sue Julr. 1821, 1816, 1SJ1
Real Vnltm 188,141.140
Assessed Valuation. (2JS8JU
Net Debt mm
Net Debt less than .011
Tax Exempt in Pencsyhrmsi
Prtc and detail on a;;IlMtln
N.W.Halsey.&Caj
1431 Cbeataal St.. rhUiieMU
New Tork Chlcaco Stn Atassa
vm
nm .
t? aaasal
IbbbT '
IsB
J 4-lV
Brown Brothers & Co,
Fovnni and Chtstnvjt Streets
PHILADELPHIA
Bonds for Conservative Investment
York Hallways -Company
First Mortgage Thirty-Year 5 Gold Bonds
Dated December 2, 1007 - Due DecamVef-1, 1M?-
Free of Pennsylvania State and Normal
Federal Income Taxes
DESCRIPTIVE CIRCULAR AND PRICE UPON REQUEST,
J.!
:Mi
nm
SPECIAL SUBSCRIPTION OFFERING
ESTE
CONVERTIBLE
Preferred at to both Assets and Earnings
CARRYING A
$76,000.00
Phoifbg Lumber
6
COMPANY
CUMULATIVE PREFERRED STOCK
Dividends payable semi-annually May ISth and November 15th
50 BONUS OF COMMON STOCK
Authorised To be presently
Convertible -6 Cumulative Preferred Stock $75,000 S7s!o00
400,000 130,000
CAPITALIZATION
Common Stock
Of tho total authorized Issue of Common Stock 575,000 Is reserved
Stock, and $175,000 for the purchase of additional timber holdings.
for the conversion of the Preferred
noxMrS16 rPTS1 PACIFIC LUMBER COMPANY has acquired the entire esacts and holding. FREE OF ANY INCUttVf
BRANCE, of the London-Arizona Lumber Company and has paid therefor a consideration of $1 12,500 of Common Stock. ,
annum.
2.
3.
4,
5.
6.
We Recommend This Investment for the Following Reasons :
The Company has NO LIABILITIES of any kind.
The Company has a modern saw-mill with full equipment for the manufacture of 10.000.000 feet of lumber p
The Company has available for manufacturing purposes a large supply of WHITE PINE.
The Company operates under direct supervision of the United States Department pf Agriculture Forest Service.
1 he management or the Company is in the hands of practical men of iinon.Rron.l nV,lliH, nn Jntn'tv.
The Company s Charter requires it to maintain net Imntrl ... ., i. t c ....A. - t i..-j l,tmrir. el H
both, amounting to not less than $12.00 for each $10.00 share of Profon-,? ?..!, .i.,.A j ...i.i..j:.. .J,. mffatdhx Z
absolute security. ' "S
rv -j j v nrT- "ejMrnl"i! capacity of the Company, based on present market'prices. J8 over ten (10) times the Prefsrtff
Dividend requirements, and assures substantial dtvidends on the Common Stock which is Riven as a bonus with the PttferrtJ
Stock.
8, The Preferred Stock is convertible at the option of the holder into an equal amount in par value of Common Stock
I0" ltB3l lcLZm? opportunity for a material enhancement in the original investment when A
large earning capacity" ot the Common (bonus) Stock has been demonstrated
1 1' TU 8ubs.t,?ntiaI Sinkj"S "?d Provides for the redemption of the Preferred Stock at $ II .00 a ehafe.
0, The entire proceeds of the sale of the Preferred Stock will be used solely for operat njr capital.
1 , The original owners, who have accepted Common Stock in full payment for the property, have underwritten
sufficient amount of thd Preferred Stock to assure sufficient capital for immediate operations P6" aVC
12, Ihe present intrinsic value of the Common (Bonus"! Stnrt t V.- . , ... j
equipment. nd exclusive of good-will (eiubgcapacUy d Vtump
A large portion of the above issue having been AaW fo?1KJlMfil K .1' i? iP lli . rfr sale mi
change term at par-lO.OO-a share, CARRYING AB0 10?
TERMS OF SUBSCRIPTION
. Applicatipn will be mad.e to list the Common (Bonus) Stock .. . e. 1 r t. .
" uw'' Jiock on one or more of the prominent Stock Exchanges.
Send for Descriptive Circular "A" ' " '
Iraqeh Office, 5 WtT Mr ((Street, Chester, P.
T, LAYTON ft COMPANY
... or inn rmiasJUahU Veek CxehRa
RMU ESTATE TiUtT Wlt,WH. fWlAMLPHWf F