n. e.'fl y . tr-
16
EVENING LEDGER-PHILADELPHIA, THURSDAY, MAY 25, 1916.
FINANCIAL 'NEWS
ADVANCES IN STOCKS REFLECT
CHANGE FROM SHORT TO LONG SIDE
Nearly All Large Room Traders Buyers of Reading.
"Positive Statements Heard That Chandler Motors
Will Go on 8 Per Cent. Dividend Basis Saturday
New,York Stock Sales
High Points in Today's Financial News
Exports from United States in April less than March, but above February.
Union Pacific, Atchison and Northern Pacific reported good April earnings.
Price of bar silver unchanged in New York and London. Earnings of Acme
Tea Company good. Return of Lehigh Valley Railroad imalltr in April.
Domestic demand for copper reported better. Opposition to reorganisation
of New York Curb Market.
N'DW YOHK, May 25.
Tho vigorous advances In many stocks made In the forenoon did not indicate
ftny cssentl.it change In the market situation, but Mmply reflected the changing of
position by the professional element from tho short to tho long side. Nearly all tho
large room traders were bucr? of Rending. Chnnmnn & Seemen nlonc taking moro
than 6000 shares.
There, was a good deal of bulng, however, also by representatives of Rocke
feller houses and by some of the Innklng Interests that have been persistent pur
chasers of the stock for many weeks past, Foster & t.ounibory sold 10,000 shares,
and some largo blocks were old by Rirueh brokers.
It Is Impossible now to check this active speculation In Heading. The Street
has a confident belief that, although pool operations now form a good part of tho
dealings In tho stock, the high level nt which prices have been established will bo
warranted by coming developments, and this makes tho professionals referred to
satisfied that operations from the bull side at cm rent quotations are perfectly safe
The other railroad Issues showed n strong tone, with advances In I'nlon P.iclllc,
Canadian Pacific, Urle and St. Paul langlng nround 1 point. Tho Wubnsh Issues
were also In favor, (although banking inteiests continued to Insist that they do not
desire a dividend dlstilbutlon on the "A" preferred until January.
War-order stocks again became piomlncnt. with many of these Issues advanc
ing 1 to 5 points There was special buying In Haldwin Locomotive, based on the
expectation that n dividend will be declared on the stock this afternoon.
Chandler Motors continued In demand, advancing to 105', a new high record.
Statements are positive that the stock will go on an 8 per cent, dividend basis on
Saturday.
Industrial Alcohol moved up 34 points to 1G14. and a gain of moro than 4
points was made In Continental Can. There was nppaient absorption In American
Can, which rose i to 58, and a gain of 1 point was made In Railway Steel Spring.
The basis for the bullish operations In these stocks was found in prospects of Im
portant developments, Including possibilities of n dividend payment on American
Can In June.
United States Steel common was moro active and In better demand thnn It
has been for some time past, nnd advances In the price to S6' before noon Indi
cated that the supply of foreign stock had been virtually exhausted
Calumet and Hecla Declares Sl.i Dividend
BOSTON. May 25. The directors of the Calumet and Hecla Mining Company
have declared a dividend or $15 n share, the same ns declired three months ago.
The dividend Is payable Juno 24 to stock of record June .1.
Better Domestic Demand for Copper
NEW YORK, JIaj 2G There was a better domestic demand for copper todiy
nd some business for August nnd September shipment Is now being negotloted.
The foreign demand continues very large, with Kngland most anxious to buy!
Several of the big companies, as has been frequentl stated, are filled up for the
next several months, and. although orders ore plentiful, they are unable to accept
them. The following nro tho quotations: August. 29,c "to30c. a pound, Septem
ber. 294c. to 29V4C , October. 2D"4c, November nnd Decemboi, 29c Shipments for
the first quarter of 1917, 2Sc to 284c.
MOTOR STOCKS KEEP
CURB BROKERS BUSY
More Than 50,000 Shares of
United Sold in First Two
t Hours Prices Rise
NEW YORK, May 25 The market on
the Broad Street Curb all through the day
was one of motor stocks Nearly all the
speculative Interests were confined to those
issues and little attention was paid to any
thing else. Over 50 000 shares of United
Motors were traded In during the first two
hours, reflecting manipulation in syndicate
interests and carrying the price of that
stock up from 74 to 77ai.
These transactions were of the same dis
tributive character as those on tho down
ward movement from 74 to 62, but appar
ently the policy had been adopted of en
deavoring to effect distribution on a' rising
market Instead of a falling one. It Is
wholly out of the question that a new stock
like United Motors should suddenly become
In such excessivo demand as to cause trad
ing on such a tcule as was reported dur
ing the forenoon
The apparent expectation is that with
buying orders scattered among manj
brokerage firms, and the price suddenly
lifted the outside bujinK would be inducod
at high levels
.Other motor stocks also showed pro
nounced strength, with Chevrolet advanc
ing from 244 to the new high record of
249 The application to list this stock on
the New York Stock exchange was again
passed over by the governors at the regtila
meeting last night Saxon Motor made a
gain of 4 points to 86. and Perlman Rim
rose from lSSVj to 146
Flemlsh-Ljnn Phonograph acted well,
ranging from 6lt to G4, and Zinc Concen
trating showed a better tone, with transac
tions at 4Vj to i"t Cuba Cane Sugar sold
at 67 to 58 Monaton Silver Mining was
fatrly active, with sales at 2i and 2t
The changes In other Issues were with
out much importance
INDUSTrtlAI.S.
. TIM. Aske,J
Aema Tea 5V ,-,VH
Aetna Explosives ls't s!s
AJax Rubber Tire mi itfu
Am Drit nf- :..;; i sK
Am Marconi . 1 1'.
Atlantic Quit 4. VV I 41 -n
do pref .ill, ,uij
Perlman nim Ill J41
Canadian Car Co i,t 71
Can Car & Frty pre hT 11.'
Chevrolet Motors , 2 lit 21 1
Cuba Cane Sugar ,17'. is
Curtlss Aeroplane , .... 4 'I ,11
DrUgs-Seabury J.HI Jll
Elsenlohr Tobacco ........ , 4J 4S
do pref nil 118
Emerson Phonograph 12 r.14
Flemish-Lynn il'i 11
Haskeir & Darker Car 31 37
Hendee Ufa L'l -7
Inter iter Marine 21 27
do pret K'l
Kathodlon Bronze pref , , , , 20 21
Maxim Munitions 8V, K.
Manhattan Trans 1)1 t
Mldvale Steel (llfj HIV4
Otis Elevator . .v .'
Peerless Motors '.'a 27
Poole En .....US Jul
Saxon , . . .1 Kit
8 3 Krease w I lit, j-ji.
Stsndard Motors .... h HU
Submarine 3SV, 314
Triangle FUm , 3VJ 4
United Motors T.-I 7H
United Profit Sharing T, 1
U 8 Light & Heat com '.'I. 3
do pref 4 44
White Motors out; 5D ;
World Film H 1
STANDARD OIL STOCKS
Illinois ,, inn nri
Ohio .. 233 L'31
Prairie Pipe 211 210
Standard Oil of California . 2111 'J.1.
Standard Oil of New Jersey ....111 .117
Standard OH of New York 210 21.'
OTHER OIL STOCKS.
Barrett Oil . ... 3j 4
Cosdeu Oil 2.is 21S
Chalmers Oil 4 8
later Petroleum WS 11
Houston Oil .. IT 111
Midwest Ref . , MJj HH
Hipulpa Kef J lHi U
Sinclair Oil . . - 47H 48
MININQ STOCKS
Atlanta . , , 12. 13
Butte Copper 4 Zinc .'. . , (IJ 7
Butte fc .VY 2 l!i
Cerro da Pasco 3a 3H
First National ....... 4i 4it
Ooldfteld Merger 11 Ji
Hecla Mining 4ft &
Howe Bound . - . . . 8 it
Jim Butler . .. . . 9rt B
Jumbo Extension VI 93
Keneflck Zinc .,- . 131, 14
McKtnley-Darragh BU UJ
Magma Copper .. . lrt 1V,
Mines Co of America . ... 2K 3
Nlpisslo Mines Co . IV, 74
Sao Tor 14 111
6t Joaepa Lead 16V, 1(1,
VVest tfnd Consolidated . . 1 IVi
BONDS
Cerro da Pasco 6a 114 Ja
New York Bond Sales
JVWI) Alaska Oold rv It lis
H0I Amer Aur cv ,1i
mini) Amer Agr deb ."1
H-Jiint) Anslo-rrcnch ,'
4H00 Amer Tel clt 4s
3'MiOo Amer Tel ct 4hh
torn) Amer Threid 4
I'iioii Ann Arbor 4s
Union Armour Co 4Vj
I1W111 Atihlson un 4s
limn Atchison 4s liiiiii
2111KM) Hilt 6 Ohio .118
MiOli Halt i Dhlo 4s
null Unit a. on c 14 s
1 1 DIM) lldt jb onlo ,1s
lUillI lioth Steel 1st In
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hJimii Mont I'ovver 3s 1171!
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3000 Va Car Chm 1st 5a , V8!i
5000 a Rwy 6a , US
3000 Va Rwy It Power Ss Wk
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JIMMJ West Shore 4s . WW
5000 VVsellng iLGlt 70H
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10.' 10J
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70s 7o(;
Adimi Bxpresi
Artvince Kiimcly
Adr Itumler nf
Alatlca J (loin M
Alak Oold Mlnee
Allls-Chatmberi Mfj
Allli-u Mfg pr
Am Ag Chem pf
Am lleet Sujjt
Am Can
Am Car ft Kdy
Am Coal Products
Am Hide . I.eKher
m IreSerurltlM
Am I.lnsoeil
Am Lin wd pf
Am Locomotlre
Am Loromollre pf
Am Milt forp'n
Am Smell A lief
Am Smelt pf A
Am smelt pf II
Am Steel 1-oundrlcj
Am Sugar Hcflnlnj
Am Sugar Itcf pf
Am Tel A. Tel . .
Am Toborco . ,
Am Tob pf new .
Am Woolen pf .
Am 7lnc I. ASm .
Anarondi Cop M .
Asfochled Oil . .
Atch Top ASK, .
Atch Top A S r pf
Ilald Ixico Wks .
Hald 1 oco Wks pf .
Hall A Oh 0
Halt A Ohio pf
HinK 0 Commerce
llnlopll is Milling
Uethlchem Sleet
llroolltn t'nlon Ov
UrooklMi Hap I'r .
Hulte A Superior .
Cal Petroleum
Cal Petroleum pf
canidiin Pacific
Last close Hluh Irfiw Close
140 130 LIS 131
1(1! m Mi WH
39 39'f mi 3!)'
.. SH 0 OM Mi
.. 22!( 2JU 22' 22'
rg 27 27'i 27'4 27)4
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50'i M fiO'i- 674"
. . (H am oi'i 02
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28', S0 2S4 28' (
. 22Jf 22', 224 22'i
. . -I9W 50 fil 50
73, 75'j 73U 7
.102 102U 101s 102
7S T( 7'j li
ItVlM tol'. 101 101
. 04U Ot,f 04U 01'
87' 8S R7'4 8H
52 51' 5t' 61',
IV2H 12H 112U 1124'
11"! 119 119 110
..129, 12'!', 12'I' 129',
..Wdii 207 2C51, 205',
. 107 10? 107 in;
osu ost ns
. 88 8hl 87U
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0014
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. H2lf
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Total sales, II K7.OO0. compared with (4 67,.
000 jesterdaj, thus far tbt week, ll8.6ol.VO0;
same turlod last k. in.JlO.OW. '''
Crnlril Leather . . 54'
Central Leather pf . . I ll'l
cnanuier Motor .. .
Ches A Ohio .. .
Chile Copper
Chlno Copper
Chicago dreit West
Chi (Jreit West pf .
Chi Mil A St Paul .
Chi M A St I pf
C C C A St I.
C C C A St 1. pf .
Chi A N pf .
Chi It I A Pic .
Col 1-uel A Iron
Col A Southern
Col A South pf
Consolidated Uai
Continental Can
Corn Produce Kef
Corn Prod Itcf pf .
Crucible steel
Crucible Steel pf
Delaware A Hudson
Denver A Mo Or 1,-,
Den A Hlo Gr pf 2S
Distill Sec Corp'n ... .51
Domo Mines 2(1
Erie 39
Krle 1st pf ,-)
General Eelctrlc 172
Ciencnl Motors 520
Oeneral Motors pf . lis
Goodrich II K . 7,Vj
Goodrich II F pf H.Vf
(rindbt (onol .. 014
(ireedc-Caninei 17
Gnat Isortiern pf . . . 122
(1 X cfs for ore prop .. 414
Gulf Stiles Steel . . 7,V
Gulf States S 1st pf OCiH
Gulf Stales S 2d pf . . 70U
Illinois Cent ... 1014 101
lnt Acnculttinl pf . . . 53l4 53
lnt Con Co t c sh . . IS'
lnt Han Corp'n ... .81
lnt Hirv N J H13'. 112
lnt Paper pf
Inp Con Cop
lnt .N'lckel v t cfs ..
IntM M cofdep ..
lnt M M pf cof dp
Jewel Tei .. ..
Je-Ap Tea pf
Kan Cits Southern
Kellj Spr.ng Tires .
Kcnnecott Copper
Kings C 0 K L A P
Lack Steel Co . .
Iako Krlc A West ..
Lehigh V allov
Lee Rubber lire .
Mavwell Motors
Mat Motors 1st pf .
Mm Motors 2d pf
Mar Dept Stores
Mevlcan Petroleum
Miami Copper
Minn A St fouls
Missouri Piciflc . .
Mo Pic tr cfs
Montana Poer
Natf Cloak A Suit . .
Nat Knim A S Co
Nat Lead Co ... .
Nc Con Cop
Nea York Air Drake
N V N II A II .
Nea York Centnl
N Chi A St L
N Y C A st L 2d pf
N Y O A W
Norfolk A Western .
Northern Pacific
Ontario Silver Mln . . 0
Pacific Mall . . 23JJ
Pacific Tel A 1 el . . 3 Hi
Penn Itallroad .. . ZjS
Philadelphia Co 40
Pittsburgh steel pf ... 07
Pressed s Car Co .. 47
Pressed S Car Co pf . . 100' i
Pub S Corp N J 131
Quicksilver -JM
SS
fiVf
8S
fit'
88
54'i
1111, lll'i 111s,
10 US 105'i in I 101
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20'i 21 '21 21
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Hi, 13', 13'5 ld'4
.is :is .is :is
99 UO'i HS4' OS'S
12Ti 129', VWi 129,!
. 52 51'4 5lj ol'i
s. S2 S2 82
1094 10')U 109'f
214 20' 1 U)i
444 14 4 1
294 2!' 2 2')14
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139'f Vim 139 lTI't
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194
95
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40' .
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525
117'i
704'
115'4 115' 1 1154
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155
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6 Us
17P. 172
117
117
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IU4
90 90
4IV4 41.'
122'j 121
I
4
I5H
40'j
25'4
r.i'f
S9
110
21 1' 1
72)4
50
127
72,'
144'
8014
50'
874'
fUl'i
59
0S5S
1114
30' (
Vi
04
04'
79
ir,
754
25
77
1(H7
5.14
IS'j
80' j
112
17
4V
454
-M'J
47
.. 454'
.. 45H
. 24s.
924'
89
1094
.. 20' i
. 71'i
554
129
. 704
. 14
. 79' i
. 51VS
. 87
. 904'
. 59
. 07)4
.111
. 30' i
. 0
. 0'.
04'
. 7914
734'
. 2.1'f
. 67i
is'i
.135'4 13S'4
. 01U 0H4
11)0? i 107
414' 41
00 014'
28W 28U
125JS 12054 120
91
7'j
110
20' j
71H
554
120'i 127
90
1214
414'
754'
;s
II d'n
5i4
184
80' 5
112
47
4.''2
4V.
254
934
S74
110
20i
71'j
24
C7'i
18)i
I
114'
79
49' ,
801,
934'
584
6714
ltO'i
30
54
(.'
0'.
79JJ
71
24
07' i
IS
130
01-S
Hi
144
79
194'
804
994
5S'2
OS
1094'
J04
Vi
04'
04
79,
75
21
074
IS
l.lS'j
OI'J
lMih 100' 3
41
014
414
014'
27s.
120?
113U llllf 1134 111
Quicksilver pf 3'
il'i
OS
2T
III Steol Sp Co
Rv Steel Sp Co pf . .
liaj Con Copper
Headlns
Ileadlne 2d p'
Republic Iron A S ....
St Iouls ASF ....
Seaboanl Air Line. ..
S?ars Roe A Co
hhat Ariz Cop
Sloss-Shef S A I ....
'outh Porto It Sue
southern Pacific
southern Ry
Southern Rj pf . . .
Standard Milling ...
Studebaker Co ....
Tenn Copper
Teias Co
Tev Co sub ree f pd
Texas Pacific
Under T pen r . .
Under Typewr pf
Union Hag A Paper
Union His A Paper pf
United Cigar Stores
Union Pacific
Union Pacific pf
V S Ind Alchol
U S C I I A F
United Rjs Inv Co OJ,
Un Ry Inv Co pf ... 21
United Fruit 19
U h Rubber S-Uf
0
21
34
5Sl,
40' 4
OStf
47
100
131
:t'r
34
424
OS
1'
84
01
34
574'
404
974
47
100
131
3
34
42
OS
2.1),
101)4 1054 101'
47 47
. 47J4 49
1 4
104 17
lS2,'i ISO
32 32),
534 54
205 20S
11X14 100' i
23U 2Ji
00 00
OO'S 1034 1004
1414 1124 140'
10 454
191 101
100
134
101
117
5!,
30! i
004
4'
4'
4
17
ISO
.11','
54
238
100'i
234
054
is;
12)4
101
117U
. 5)4
. 304
. 004
-1404'
82i
.15S
214
V S Rubber 1st pf.
io,
192),
100
12Ji
10J
117
SI J
30i
96)4
140JJ 131
824' S2)f
1014 158)4 19V
2.14 21 224
134' 10 134
204 2014 204
1014 1594 1004
fd'i fiSii 55)4
84
24
31
57',
404
974
17
100
131
.1
.14
124
OS
2.(4
1024
47
484
1
17
180
.U
51
208
1004
2.14
05)4
10J4
1104
451,
191
190
13
KM
in
5),
303.
004
140
824
U h Steel Corp'n 85
U bSleel Corp'n pf.. ..117
U S bm R AM 76
Utah Copper 81
Va-Caro Chem 43
a Iron Coal A O .50
Vulcan Detlnning pf . 4J
Wabash 15
lOOJf 109'J 100!, 1094
864 85)i
117)1 117
'5)4 734
Wabash pf A ...
Wabash pf 11
West Union Tel
West E AM . ...
Western Maryland ..
Wheel & Lake Erie .
Wheel A L 2d pf . .
Willys Overland
Willis 0 pf r t p .
Wools or lb FW. .
494
. 2b! i
. 0514
. 6214
. 314
. 5
5
273
107
81
424
504"
25
14'4
4.J,
JVl
05),
62J4
32H
54
51i
273; j 270 270
lUf KXJ'f 106)
814
42
50
23
164
50)i
29
06If
03
32)4
61
6
854
117
734
81
424
55
25
14Ji
49)4
2851
05).'
624'
32)4
5
a
134)1 137H 134J, 136J4
Total sales. 692.100 shares, rompared with
760 louo shares testerdari, thus far this ueek,
3 098 HOD shares) same period last ueek, 2,876,.
000 shares.
Another Boston Bank Merges
BOSTON. May 26 The Merchants' Na
tional Bank took over the business of the
old Boston National Bank today, more than
two-thirds of the stock of the latter having
assented to the merger. Four years ago
when E. V R. Thayer assumed the presl
dency of tho Merchants' Bank deposits were
about l,OOO.00O The Merchants now rep
resents four merged banks and has depos
its of more than Jlo.QOO.QQo.
AMERICAN EXPORTS GREATER
PER DAY INAt'RIL THAN MARCH
Increase for Ten Months Is $1,175,300,
000 Above Same Period Last Year
WASHINGTON. Mny 2B American ex
poits In April rencherf n totnl of $404,300.
000, which Is $6,500,000 less than the record
fixture of March, but a million more thnn
the tottl for Febmarv The Bureau of For
eign and Domestic Commerce, Department
of Commerce, however, estimates thnt the
exports per working, day In April were val
ued nt $1(5,200,000, exceeding the dally
nverage for March by $1,000,000
For the 10 months ending with April
American exports totaled $3,401 100 000. an
Increase of $1 ITS 300.000 more than the like
period of Inst enr Imports for April
amounted to $217.800 000 or $4,200,000
more than for March, nnd exceeding b
$(15,200,000 the April average for the pre
ceding five enrs
Imports for the ten months' period end
lni ullli Aurll lntnleil 1 1 .7 22.4 00.000. an
Increase of $181,200,000 over the corre
sponding period last ear and unequalcd
b the corresponding period of anj previous
cnr
The favotable trade balince for April
as S1S6.B24 Olfi, being more than $R2.000
000 greater than that for April, lolfi, nnd
comparing with nn Import balance of $11.
201 544 In April 1911
Ten months to the end of April Inst
g.ive a total excess of exports more than
Imports of $1 fT8 700 000. almost double
the favorable balance of ?851.GOO,onn for a
like period of n vcar earlier Of tl e prll
Imports CT o per cent entered free i f duty,
ns against 01 C per cent In April, l'ilf
inning April there was a net outward
gold movement nf $51000 000, compared
with a net inward movement of $15,400 000
in April, 1015 The ten months to April
30 this tear, however, showed n net Iri
wnrd movement nf $J"3,000,000, ns ngalnst
n net outward gold movement of $51000,
000 lat car
The respective totnts were April Imports
of gold, $0.100 000 In 1016. against $16,200
000 In April, 1015, April exports nf gold
$11500 000, against $!00.000 In April hH
jcai ten months' gold Imports. $313 ono -000
In 191C ng.ilnst S8 100 000 last .ve.ir,
ten months' gold exports, $70 000 000 In
lllfi, compared with JU.MOO.OOO last jear
NEW YOHK COFFEE MARKET
Ni:V YORK. Jliv 25 The coffee ninr
kct brnUc 10 to 1 1 points at the opening
under aggressive selling, which was be
lieved to represent liquidation both for lo
cal nnd foreign account There was no
special news In the market, hut it was the
general Impression that the selling had been
Insplied by conditions abroad, which wero
cnnsldererl of a less piciflc tnture, and also
bj Increasing receipts In Brazil
Toiliv's
opi-nlnK
vtav . .
J"!"" ' k -
.llllv n -AUKlUt
Spptemlwr ':;:.,..
(ictohrr Mil 8 til!
November N M
Iln -mlw-r ) i
Innunrv n
Manh 8SSff8H0
Tolnl iiiis Jl (Kill liaus
YestenH s
I lo-e
! TCHS W
s .Viifi s -,
s iu 5T s H l
S "ll'l 1 71
s 7"(i)H Til
R UlllflS Kl
H S1H S-,
S Miff 8 91
noo BONDS
An Absolute First Closed
Mortgage Public Utility
Investment
Outstandinp; for thirteen years.
Earning about 29s times its in
terest. Tax refund in Pennsylvania.
Price to Yield 5.40
A Detailed Description on A'euueir.
Frazier 6 Gd.
INVESTMENT BANKERS.
Broad and Sansnm Sts.
Philadelphia
JUPITER
Another of Canada's Big
Gold Mines in the Making
ROBERT E. KEMERER
Meintirr Mumlnril Mock Ixrlianse,
Toronto
000 Dri-xel lliillillnc riilluUrlnlilit.
luniliaril .tfilS. VI iln .1151
nu;i.(T pun vtk nmi: to tokonto
sTM)ltI STIH Iv I.(IIAMih AMI
NKVV OKIv MMIIvKTs
IV Itroml sireel. Nevv ork
10H liny Mrert. Toronto.
Guaranteed First Mortgage
Bridge and Terminal Bonds
Vlrlddio from IS, to 7V-,''
ll'Hte or Oeiirrnl 7.1st nml Sjircml X)e-
acrtpfur ( irculars.
ROBERT W. DANIEL &
328 Chestnut Street
PHILADELPHIA
CO.
Barnctt Oil & Gas Co.
lOUGlIT SOI I qt'OTKD
lie or special circular A'o. I.
E. H. CLARKE
Investment Stciirlt.e
27 mitlam ht. ev lork City
INVEST IN MORTGAGES
AT 5,4
Recommended by
BEN T. WELCH
1328 Chestnut St.
ioiv iiniM) Tim' v.M'vnnv kviifs
VIA fllll'iW 4 MIKTII Ml-sThUN 11UV.
now In tn-it to Han Francisco Oakland l,os
Anatlfs ami Sin lUnro i'l Portland Ore
Seattle nil Tacumi Wash KlfwlHe June 1st to
Silt l.ake t'll nntl (Igdn I tuh Denver Colo
rado Hprlnss and Pueblo I'ol and efffrlhe
June lllth to Vellowslone National Park Wide
choice of routes ami numerous free sldo trips
Favorable stopover prlvtleees liberal return
limits Han Diego Exposition open entire year
llilu Splemlldli equipped Ihrouvh trains leave
the new Chicago Passenger terminal at conven
lent hours dally The nest of Everything
Let V.S plan oar summer trip We will be
pleased to submit an attractive Itinerary fur
nish Illustrated booklets and fu I Information
regardlns rates schedules etc D SI DAVIS
fl A Chlcauo North Western liny Hull
Chestnut St Tel Walnut 310 35T Thlla Penna
J.KW SI.FFPINO CAR I INK
iMiii.vnn.riitv to nkv iiiii.kavs
1 V C'INf INN VTI AND I Ol'lNV II I.K
iivi.TiMoitK vmi oiiio it vii mi vn
Commencing. Sunday Ma 21st through sleep
Ins cars from Philadelphia to New Orleans will
leave Philadelphia. Stth and Chestnut Streets
Station, at U"J1 p m via Cincinnati lamlsvllle
and the II Inols Central Railroad
For full particulars see Ticket Agents
DAIrlMOrtK AND OHIO RAILROAD Adv.
DIVIDEND NOTICES
OFl'ICK OF
IIVIIKISOV UHO-i. & CO., INC,
330O (.ray's Ferry Koad
I'blla Pa May Slth 1016.
The Board of Directors has this day declared
a quarterly dividend of 2 Hi 00 per share), on
the outstanding Common Capital Stock of this
Company, pal able June lSlb. 1810. to Stock
holders of record at close of business June 10th.
1910 Checks will be mailed
W1I niCHTER.
" Treasurer
U1BKCTORV OK ACCOUNTANTS
"ffO
Vco
(ertuled Publls Acountsnls
WWHBNlK E KROVVN t CO
1913 HEAL. tBTATB TRUST BVlL
ILDUiQ
Sales in Philadelphia
100 Am
an .
t.rten
-vm tlwvs rtref
-.0 Am ememns
Sill) 11 M l.oco
100 do pref
lni Drill J (1
in t'flm Iron
no Klec stor
110 rcrl ,
I'll Oen Aph pref
.r. Ima r-x XT Am.
aio int vi a'm pf ic ni
L'v Knne i op n
2 Lehigh Nv T7U
.'0 i,eniri V'nllei 8U
il l.eh Vdl Trn S2,
3V Penn R R .nHi
n r Salt MfK 1"0 4
10 r Sieel pfd H1)4
'JV 1 h Co cum tifd A2H
018 Phil nieetrfr ,.'7
v ri.il- Trnrtlon 'OS
1J27 RdlnB . 101
.i nn ii. Imonl 4 "ii
101 Ton Mining n
.'no I nlon Traction
117 rnltert On Imp
ftrt IT A Rteel
40ii vvrnicR i 1 1
100 W J A Penhor 10
Ui Wm t'rsmii 8J
-v lo'k ni I4U
09 do pref .10
HOND1
Utah
14000 Am (1 Kl 3 (M
liono tlnM I, 1st ft llll
.1300 nier ! Tr 4 h.'
jonn I, con 4V4 1oj
11)00 Leh V til gen 4 U
illllll) do tiret rs 4H IimiSi
,-,n M Prop ( o 4 II "II
loon IM i'o rn 4'4 lni
loon Phlln tllec n 104
.nun Snin-Am I n lii.'.'i
J00H t'n Rv t - 4 7l'i
Net
High l,ow CJoe chge
7S , 71., 7.1,, 2
8 '" $? i !i
40 38 SOW 1H
n5'4 Ol'i njl i
40 in4 oi .,,
70 on' nm 1H
"Vlt -Mil 'Jill A III
in .in V,
fl 77'1 S
Ml SO
.11 .IS
loon lon'4
5'H 4 - '
T f? ,Jr
O'l ow
41 lfv n.v
80S 814 81
II 11 I
40' 40'. 4-
81 SJ -
nu it
30 30
Net
Low Cloe chge
nv ii n
. mm loiw 'i
811 8J. J,
oj Hi.'8. u
in in.
loos IiioSi ,,
711 711 H
101 101 .
Kit 101 H
UU in.'
74'. 71V rt- U
Local Bid and Asked
Todfiv Yel
IIM Akil Hid,
Itnllnln . no IM UU'
do pref ln-i
It " v ' t r -.(, -. .11 .
do pref t O Js llll .18'j
II, .11 411 38
( 1111 sitel jij o
hlii stor . m ill in
(leu AP 1.' 31 3.'
do pref .... . nv 7H1. 7n
Kituni Tel . 14 1 IJi 14
ilo t r ... n 1 l 14
do pref . . Hi il'i 1,1
Luke Sup Corp . .0 1.1 10 in ) 11 10
Lehigh .SUV .. .. 7ll'4 77 7H
Lehigh Valley .. ;n 7!H 71i'a
Lehigh Vnllej Tr . LM, 21 'J .'!
do pref . , n' tlt'ii 41
Pennn . . . 07'. .17 om
PI1II1 i:irc . . J7S J7. .'7'-4
Phlln Co inij in
do ,1 per cent pref 3'i Hi in
iln n per cent pref . 41 4JI4
P R.T I c . .. . I"), 18 17'4
Itendlni: . ...KU Ki.'i, toil,
Tnnopah llelmonl .. 4'4 lS m
rnnopih .Vllnlng . ... 11S OH '5
I'nlon rradlnn . 41 41', n:
I'nllcd (la Improv 88U hhU sh
r S Sleel . 81S mi MTi
York ni . . 11 li( 14
do pref . . 31S .111 in
Wni Crump t r 81 st sj
Askeil
im'.
till
fl.'
mi
411
mw
31
14(4
mi
in
77't
811
U'4
(18 J
27
41
'".
42'
18
101'.
US
41j
81S
81
HlVa
8.1
IIAR SILVER
ACME EARNINGS ADVANCE, WHTTi?
Large Gain Shown by Former in First Four Mrma 1
iuevi avuuuixi uiuaiwr 111 April SmalW 1
hilt, run Mnrif.hu A n TJJi.... '
.v., ai.it; iiiner
Stfllpq Rtecl common 4 . ..
moil nctlve. both lues BhtTi. ' w'rtt.1
he cio,inK price of ,ts HMI,, 3J
trend of prce8 n Wan , f?'"!n, ffll
were Rcncrollv nm.t 8Ueet- Local iJM
With the tnklnpr nver of the storet of the
Acme Tea Comply hy the Acme Tea Tom
panv, Inc. and the tradlnR In the stock
on the New York Curb, much Interest Is
manifest In the eompnnj'n blne Dnr
Inir the first four monthi of thli year the
stores reported sales of $5,787,821, an In
crease of $1,265 821, or about 27 per cent,
n compared with the same period of tho
previous ear
Purlm? tho first four months of the cur
rent fiscal cnr. from July, l!)15, to May,
lfllG sales' were $13,664 030, or more than
$.140,000 above the entire previous fiscal
ea which ended .Inly 3, 1915 Sales this
ear, with Mav nnd June estimated, nre
placed at $16,000,000 This Is an Increase
of about 2t per cent over the previous
jear
For the current jear the net oarnlntrs
are estlmntod nt $650,000 After nllowlng
for the 7 per cent dividend on both the
$2,760,000 first preferred nnd $800,000 sec
ond preferrod, there would remain $422 600
for the $3,500 000 common, or a little more
than 12 per cent
Harnlngs of the Lehigh Vnlley Ilallroad
for April, which came out todav, showed
losses In gross nnd net as compared with
the same month nf tho previous enr
Uross for the month totaled $3,612,001, n,
decrease of $00,269 The net wns $1,165 013.
decrease $228. 36D For the ten months
cndlnc; April 30 the "pnoss carnlncs were
$38,836.31.1 Increase $3,789,469 nnd the Hot
for the same period was $11,537,790, a gain
of $1.436,7t9
In the local stock market today United
flar Mher u nUoted at 31 1-lild In
don todav unchanged nnd In New York 71
enihanced "
Lon
4 c.
Bought Sold Quoted
American Gas & Electric
American Light & Tractipn
Pacific Gas & Electric
Unlisted Securities Dept
Chandler Bros.&6o.
1338 Chestnut Street,
Phlliittelnlilii. I'n.
Hell!
Filbert 2111.
Keyslonei
Rnre .1380.
Rcncrally nulet
Hofore midday steel V,. ., 4
than a point. &i Wtltti nJ
more than a point, hut i, .?' M 1
bst before noon Oeneral aTJI . lnl iil
loit 1 point In th. n!.B.4Sphltpref( 1
gained two points and later lLh!!8
trom the top "r "fopped a Kj
GOVERNMENT D0NDS
2 registered 1010 ....
2 coupon 1P30 .
3 registered 101S,
3 (ounnn 1018
I registered 1021
4 coupon 11121
Panama 2 registered
Iinanit j registered
Pannma 3 coupon
!?H In.. 11
!. lMuJl
.)!
101
101
1MH
IMS
1001
Hra
5'S
1(13
ion
103,
R.A.
6
co
TUBL1C SERVirp
SECURlfms"
'Pubic Service Security
arc linked with the suet m!
of municipalities." "
Jt New Englanrl Power ComP,y 1,
Mtrfe. 5 SJnkJnrf Fund Golffi
u, is-etuna Jt'enna. State
Normal Federal I
tax atJ L..
i.
C Issued under authority of Muj,
Q'Jt? Electric Liffht CommiVn'on.
t i xt i?aniy "i V '"-Portant nalt
otthe INew England Compiny Syiten,
which constitutes the larde.t lJ
electric development in the UnlltJ J
states east or iNiagara rails.
C The property now morttftjjj
represents an original valuation !
S 12.914.000.
L Price to net 5.10.
Bokcir Ayliixg Co.
Land Title Bldg. Philadelphia
Kapo Manufacturing Company
(Inrnrpnratcil under the lawn of Mntnc)
Authorized Capitalization $2,000,000
400,000 K.inrr fmr thIiio ?.".
S40.000 frhnrcN, nf nlilrh 100,000 HlinrrH nre In the company's t renin ry.
o bonds or float Ins: lntlelitetlnet.
Ihued
REGISTRAR, FIDELITY TRUST CO., N. Y.; TRANSFER AGENT, UNION TRUST CO., N. Y.
This Company has created a new American industry which has practically unlimited
possibilities. Its products have as a bae a fibrous substance which grows principally
in Java, known as Kapok. This fibre when '.cicntifically treated has: Four times the
buoyancy of cork; is warmer .than wool, lighter than fleece, and is vermin proof.
Its llfe-,saInR parmentp mnde up In the form of conts. vrtlitconts, belt!, swlnv
wIiiks etc, are suppIantliiK cork nnd air nilcd recentncles They hae been
prmed to lie the most reliable and efllrlent yet produced and hae been tested,
approed and adopted by tho UNITED STATCS and FOREIGN" GOVERNMENTS.
These products are fuly protected by patents.
Tho company will manufacture mattresses which nre certain to hae widespread
demand, not only because of their ermln proof qualities, but nlso because they
have a resilience equal to hlfiher grades of hair matttesscs It can bo readily
seen that tho possibilities from this one branch of tho business nro enormous.
The Knpn prnilurt nre; nun belnsr distributed etenlrl Iiy such More n Marshall
I'lelil A Co., John 1 nnnmnlier, It, II. JInry Co., (Umbel. Aliereromble Filch,
Inrilnn, Miirnli .t Co., William I'llene .Snn Co., Wrlclil & I)ltnn, Hilier-iInTnes
Mores, I.lcKelt Store. .Inrnli Heed' 8on and arloun dealers In Now York Phila
delphia I'lttshureh. Buffalo, Cleveland, Detroit, Milwaukee. Now Orleans, St. Taul,
Minneapolis, San Francisco, Portland, Boston and other cities
It Is officially estimated that KI'.T enrnlnR this year from swlin-wlngs and belts
ALONE will nmonnt to between 5200,000 nnd $2(50,000, equal to approximately $100
per share of Issued stock This estimate excludes prospectUe war orders from
abroid, for which the company Is negotlatlnc It nlso excludes tho bip; reenua
which the company should derie from Its Vermin Proof Mnttress business.
In Tlew nf nulrlnl estimate of earning for tilt 3enr( wlileh I considered ron
erntle, nnd the larce prnspeitltr ruenae from tlio mnttres biinlne n well
n new briuiclie of the Knpok Industry now helns de eloped by the company, this
stock eem to linve exceptionally nttrnctle poKHllillltle.
We have offered our clients an opportunity to subscribe to 100,000
shares of the Treasury Stock at $4.50 per share, reserving the right t
to reject any and all subscriptions.
Subacriptians at $4.50 a thare will expire at the close of business June 1, 1916.
recommend the Imndjate sendlna In of orders, accompanied by j;ew
PRODUCTS
I.I re
eHvlns;
Garment
Vermin
Troof
Mnttrees
DISTRIBUTORS
EARNINGS
and PROFITS
CONCLUSION
STOCK
OFFER
We expect an oersubscrlpt!on,
York funds In full.
After June 1st an active "market will be made on the New York Curb.
The stork Im ulrrady been traded In at t$i nnd WH.
Descriptive Circular PL2 on request
CARROLL FELTER & CO.
Stcurttic, Service Special!, It
74 Broadway, New York
D. W. RITCHEY & CO.
Drexel BIdg., Philadelphia
Tel. Lombard 1011
BOSTON & MAINE RAILROAD
Boston, Mass., May 23, 1916.
To the Noteholders of tho Boston & Maine Railroad :
You are asked to extend your notes to July 17, 1916, under the 'following terms:
ANY HOLDER OF NOTES MAY EXTEND THE TIME OF PAYMENT OF
THE AMOUNT DUE THEREON TO JULY 17, 1916, WITH INTEREST DIS
COUNTED AT THE RATE OF 6 PER ANNUM.
On February 11, 1916, a Joint Reorganization Committee was. appointed under authority
of votes of the Directors of the Boston and Maine, Boston and Lowell and Fitchburg Rail
roads, to formulate the details of the plan of consolidation then proposed. Since that time
the Committee lias been working ivpon the details of the plan, and has made much progress,
but they have been unable to complete their task and desire further time.
The Board of Directors is in favor of giving such time to the Reorganization Committee
in the hope that they may be able to complete and present a definite plan.
Your security will not be in any way diminished by this extension, if granted, as no
mortgage can be placed upon the property without securing your notes, and it will enable
us to continue our efforts toward a sound reorganization under favorable conditions.
Acceptance of this offer must be construed as conditional upon action by the Directors,
not later than June 1, 1916, declaring the plan o'f extension effective.
Noteholders are requested to advise the Old Colony Trust Company, 17
Court Street, Boston, Massachusetts, before 2 p. m., Wednesday, May 31, 1916,
of their acceptance of the plan for extension, stating the numbers, including pre
fixes, denominations and dates of issus of the notes they hold. Noteholders
will subsequently be asked to present their notes for extension.
i
By order Board of Directors, ,
' J. H. HUSTIS,
President. ,
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