1
ft.
y
EVENING LEDafeR-HILADELPHtA, FRIDAY, JUNE 191C
FINANCIAL NEWS
ACTIVE ISSUES DROP 2 TO 4 POINTS
ON NEWS OF GERMAN NAVAL VICTORY
Gfdatest Losses Are Sustained by the 'Specialties Many
Wide Advances Scored in the Trading During
the Morning Session '
New York Bond Silica
AISS& mr ct Oil ft .
jowl Am Ics (Is ......
5X!F Amer Tt clt 4a .
2ffi AmorTtl cvt,4W
oyuij Armour in 4H.
22iKJ Atchison Bn 4s
i5?! Atchison aAttt. ... .
in'Mi Atchison cv 4s iii.i.v
IIOOO Atchison cv 4s IliOO, .
100(1 Atchison rv flu 11)17 .
4000 Allan Knox A cm 4s
i in 4a
L
High Points in Todays Financial News
Banks in New York gained $6,388,SU on movtmtnl of currency in week.
Boston and Maine Railroad asked Public Service Commission of Massa
ehutetti i for one pear additional to complete reorganization of' system. Inter
national Satt declared extra dividend of 1 per cent, in addition to regular
quarterly of 1-2 of 1 per cent. Price of bar silver lower in New York and
London. Another advance in price of Western New York and Pennsylvania
stock. Details of new fiOO.000.000 auto merger being worked out. Dank
of France gained gold and lost silver in week.
i. K iiiiu in.... . 'v
It Ohio cv 4W1 I'flH .
It Ohio n.. , . loilfk 1
In atrel.lst.Ss, ,.ll( 1
ei rrn n...iJ"nn iuu
P Tr fls IUIH.Iiu lot
ft w l iV.Mi.loiU lot,, loii
n w i iiiai.. Iiuh toil loifi
ni w l luai.iooj too, loo):
:hcr lt ni.itniU unk 1112J
NEV YORK, June 2.
The day's trading In tho stock market was marked by unusually wide fluctua
tions arid by abrupt changes In tiie market tone. The advances, which attracted
nltentlon In tho early trading, Included a gain of, 19 points In Wlllys-Ovcrlnnd,
which sold at 294, and upturns of 4 points In Norfolk and Western, 5 points In
Marine preferred, 0 points In "Big I-'our" and from 1 to more than 2 points In
many other Issues.
These gains caused a good deal of bullish enthusiasm during tho forenoon,
and, although there was a recession, around midday, the highest prices wero
reached In tho early afternoon before tho announcement of the German naval
victory was made by the German Admiralty ofllcc. This news at onco caused
hurried Belling from ofllces handling extensive wire systems, local commission
houses and by room traders.
There were rapid declines In .many stocks, ranging from 2 to 4 points In the
Usual aqtlve Issues, with greater losses In sovernl of the specialties, Including
Willys-Overland. The nearby demand when the market was advancing was with
drawn, leaving many stocks without support at around previously prevailing
p rices.
it was hardly necessary to express the opinion that tho German naval vic
tory was looked on with exaggerated Importance and tho speculative element was
"blind to the fact that Blmllar disasters had previously been sustained by England
oh some of the seven seas. Including that off the South American coast, but which
was, followed by moro nggrcsslve English action and victory.
The market, however. Is sensitive to war news and It was natural that this
news, coming In the nature of a surprise, should have all the more pronounced
effect. An adjustment of trading to war conditions as they exist may be expected
over night.
S
leather lt na.,tn.iU unh 1112 1
t On cons.ru., ioiift lou'i ioil'i
II Copper U ..i.,12H't 128 ills
S.I
IM
SIMM) Atlnn I'rt f.ln
5.1"" !'!' ohl 3H.
..; : "Ru R Jnio s
ouuu unit
isvmt lis
iihii) lttn 8ipel.lat.Sa, .,,
101111 Huh titfrt rfri M...ilimd
(won nrkn Hap Tr As ltilH.lni
..woo i! V r en 4a, .... . ...mi,
covin. nn UOV
IMtMHI r,ti rinv
ISIMTU Can llov
-w vnt
0000 Chll
soim Chu k Unlo 4 Ha 'Ut
in"" uni & rcmt III 6s ., Hit,
..soon Chl t West 4a ... ,, 71 Ji
1.1HU00 Chl IS A n Joint 4a., US
flood ,lo ten 4s .,. Ii.-l,
llioim do In 4a U.t'i
noiiil 1I0 Iowa 4a imfs
,(IUW Chl MM A fit P gen 4a H2W
4000 do cv fla ..ION
fl.Wl) do IV Hi 101 Ji
loon do rfrl 4 Ma HtU
IHlllO Col Mouth 4 Ma .... 81 't
loon Com Product! ila 1U.H im.
1000 Cona Ona wl Da llM.
iliioii Cumlierlani Tel .la. ,loii"
liioi) I)l llud conv 4a... 107
.IKK) Den & Itlo Or rM 0.. l5i
210011 Dla Secur Corp Ba ... 77 U
nriim Krle tonv 4a Ser A.. 71 H
SHOO do 4a Ser tl 774
S700U Urla prior 4a HH
Simon do tonv 4a Ser I) wl H7
BlMiii tlreat .Nor 1st IMP'i
iMiitii Hud i. .Man In na... '.'UH
3000 llud .Mnn rfd tla ... 7J(4
looo Indlnim Ktfel fit .. .tn.l
20011 in central 4a inr,3... ao
lllih. liow.
'MS ism
83H. ,531.
on. Job
t.iji josji
8 & l'M
r.! tu
naj4 na?4
i
Cloae.
03M
Kttf
0-2
101'4
GERMAN VICJTORV
UPSETS THE CURB.
ton
18
li'JTi
ill
.""If
10l
100W
lot
Wl
General Offerings Folow at Con
cessions New Top for
Chevrolet
Sales in Philadelphia
IIIIOO
21100
.iMino
nn. iikio
r.ooo
t! I' HI I. A .V O .-.a.llll
nlrrb .Met I'ia . ... 7.1
niern 11 T rpr r.a.... y.
liter Mer Mar ct IVja lo.lti
menu raner it rn... 7
vo!i
BO,
08 (i
113.
Ilil Ji
IIOJl
H2H
1)2
lus
J"1.,
B4H
1)8
1!!34
Hill,
107
IWK
k
774
8.1(4
8(1 '
1)1)11
103
HO
2000 Jnpaneae
aoim do new O H 44 a,
np,'r
fat
414a.
. 8,1
. 81'
110
. IIS
11:
Details of New $200,000,000 Auto Merger Being Worked Out
NEW YORK, June 2. I,. rj. Kaufman, president of tho Chatham and
Phoenix National Bank, Is financing a new automobile consolidation which will
take over a controlling Interest In the Wlllys-Overland Company, tho Chalmers
Motor Company, the Hudson Motor Company, tho Auto Light Company and prob
ably the FIsk Rubber Company. According to present plans, tho new company
will also acquire a substantial Interest in tho United Motors Corporation. John
N. Willys, president of tho Willys-Overland Company, will bo at the head of tho
new organization. The new company will have a capitalization of moro than
llrtA AAA AAA ft --ll
f.,,wu, .ueiuiis oi tne matter are now being worked out
announcement will bo made soon.
2IIOO K C Ft H & M la
11)00 Kitn A Mlrh L'ri 4fl
limn I. nek Steel fla ttV.ll
uuiii) ij,ne Hnore
lnno i.h V .v v
30110 l.nne Inland rM 4a
1)01)0 .oula A Naah la...
loon .Minn A St I, la ..
lNiloo M K . T lit la . .
looo do 2d 4a
"IIOO Mn Parlflr rv rl Ra
looo do col a r 1017 .
.1000 ilo rona (la
iiooo N Y C 1 S .Hna
l.iMIIIU n v c ft H 08
11000 do IU, ...
Kino N' v niv 4 in"ii ...iiia
1000 do 4l4a 11100 1024 100t4 102V4
2000 do 4&a 10(1.1 108 HIS, losil
(1011)1 tin 44a IDA I 102ti 102 102t4
lo.'ooo do 4h" inns mitt lot iom
looo n y Hwy ndj na ra-1 r,7H .I7i
4000 n Y Tel Ken 414 a utj.
rerr HUfl. 83
con 4'ia.looU
lit4
mi.
7S4
4(14.
Wl
flllf-
B 7.l(i
UlS
oih
H4 I'll '4
10.1
no
118
112
8.1
looU
811
1) 1 14
fit)
7.1
43j
40Vt
811
7.lU
113V
01
I (l.i
0.1 4
on'.
1)2 '4
2'4
108
101.
HI i
81(4
lis
liKIJi
lOO'll
107.
-7(1
71".
77 H
8.1 (4
8(l4
Olljl
m
KM
8U
I'll',
8IJ4
Ilo
1)8
1)2
8.1
lOO'i
Ml
lUH
nn,
7.1 ,
81)
7.1
ni'i
10.1
NEW YORK, June 4. The trading on
the Curhy market today was variable, the
tenor of the market being Upset 111 the af
ternoon by the German Admiralty an
nouncement claiming a notnble victory over
tho flrltlsh high seas tleet. , This news was
.a sentimental shock and was followed by
general offerings at concessions of all tho
leading Issues.
Ileforo that announcement was mndo
there was various trading In the motor
stocks, with Chevrolet advancing 10 points
to 263, a new high record, and United
Motors was active and strong, ranging fiom
79 li to 82 !S. Perlmart lllni, Saxon and
White Motors wero all active and strong,
with tho last named stock moving up to
08 ji.
Outside of this group the market gener
ally showed a sagging tendency In the first
half of tho day, with the oil stocks yielding
moderately under small sales and Flemish
Lynn yielding about to 6, Cuba Cane
Sugar showed a. better tone, moving up one
point to 66 V4 and tho preferred rose from
04 U to OS.
The trading In these stocks was Influenc
ed by the current reports of nrangements
for closer alllllntlons between the Cuban
producers and tho Aincrncan Sugnr Helm
ing Company. Mldvale Steel also showed
a firm tone, making n fractional gain to
B2 ,&. When the news of tho naval battle
was received there was a general with
drawing of bids alt through the list, and
for a time the entire market was unsettled.
INDUSTRIALS.
High. Low.
Nt
Cloae, coge.
lOrfAllla Cha .. ,37 4 ,27 S ,V7 J
1 Alrhleon iolH liuii 10J4 ,
loom-Ill, J a .... SS 8 .18,. -r'u
40 Crucible Sll B4W 84'4 Jl'i
30 unea a unio ,
17 Kleo storage.
loo Krla .. . ... .
807 Uen Aaphait ..31
14.1 ao prer 71.
ft Ina Co N Am .. 2.14
BO Kennecott Cop. n.lS
IB Key Tel nM .. s'
47(1 Lake. Sup Corn 10J
Ionian Nav . . 70'4
Ionian Valley,. 81
42 Jllnehlll .... , now no
a TJnr r'Mi nal aa
3.10 Norf A Weat '..HUH 131
on t'enna ...., r,i
80 Pa salt tt ..inoK
to Pa ateel pr . . . I8
i. iniin co cum pr 42J
082 Phlla Elec ... 27
HI' 1 T 1ST)
2.1(11 do ir ctfa .. 10
till I'liltn T. 77
13.' IteRrtlim . ..!. 101
sr4 1 u
17 1
II Y,
10 ttn ".t h(.l
72., Tonopah Ilel .
.10 Union Traction.
322 United Claa Imii
oi.iir u c, Mieei. . .
Nio War Ir 4 Bt
100 W Jer A Heai
1004 v Cramp 8
13,1 York pfd
17
8SH
84U
.... 84H
-"'v '.-
eaan
no
8(1
3B11
ll.l
n ;
R3 ni -i'i
(i84 nsji IS
III HI,
j?: it -
11 4.1. .,..
t now
H 88 ..!
1174 noil -r ;
lnfli liinv .
42 42i T4
4 ,f
r in H
nn r i --
B
304
TTPWARD MOVE IN WESTERN NEW YOl
AND PENNSYLVANIA R R, CONTIM
Stnc-fc Moves Un 2 on Reports That Pennsylvania
road Is After Securities in Hands of Publio-RapjJBI
Transit Trust Certificates Again Strong JI
K.
30U
POND3,
i
ntODO .Nor t Went cvt 4l4.132i
i1
.DUO do la
22000 Nor Pac prior 4a .
1000 Pan Coaat lat na
IIOoii Paclflo Tel .la . . .
24000 Penna 4a 1048 ...
anon do gen .it Jtja
noiiil no en -iva
IM'
. H2,
.. im V4
..lot
.in:
H8i
132
II3V4
024
084
1U1
1)8.
132!
I'3'i
D2H
1184
101,
10.11.4
mono 1'ubllr serv N c ns.. 1)2"
In
.'0000 ncndlnc gen
2000 Hep Cuba !ia 1014
mjimi Jlep ir & M r,a
nnnri nnnt. i.i..,i ...
and an official
New York Banks Gain $6,388,544 on Movement of flloncy
NEW YORK, June 2. -Although thero has been received In gold from Canada
ince last Friday $9,836,000, bringing the total to date $27,086,000. the Stlbtrcasury
ehows a gain by the banks of only S-1.7S4.000 In tho week. In nddltlon. tho banks
rained net from the Interior $1,634,5-14. This brings the apparent gain of the
' ??! n the tmccable movements of funds up to close of business yesterday to
$6,388,544. Lnst week the known movements Indicated a gain In cash of $11,362,.
168, but the actual bank statements showed a loss In money of $10,567,000.
Boston and Maine Wants More Time to Reorganize
BOSTON, June 2. The Boston and Maine Ilailroad today petitioned the
Public Service Commission for an extension of one year from July 1 1916 In
which to complete the reorganization of the Boston nnd Maine system. The
Public Service Commission will give a hearing on this matter on June 12 at 10:30
a- wi. The original bill called for the completion of the reorganization not later
than July 1 this year.
11.14
. . Oil
. . D8H
.. 74J4
::iS&
la 73 'i
.. HI
. . 7(1
80!4
n!,14
101 101$
Ki.lU lo.iii
II2 II2
tl.Vi ll.lU
2000(1 Itnrlc lalnml rM !
12000 do ,1S
.10)10 do ct One Stu .la
wion Stl.iSF rfd ct ata
3000 do w I
1.1.100 ilo A w I
.1000 do adJ w 1
BOOO San A & Aran P lat 4a (18
iliioo St I, Hwn con 4a . . . 04
loiio Seaboard A I. ndj na. (174
looo do rfd 4a ill)
Iiooo South I'ac cv la 88'i
3300O do cv r,a .Kll'
iiooo do rfil 4a l)(H4
27000 South nwy Ben 4a 71".
31000 South Kwy coo .la 101.
looo Third Aie ref 4s 81U
flnoo Third Ave ndj na 7l)
.1000 Toklo 5a 77.
2.1000 U H Rubber (la 102J4
3(1000 V S Hleel S 1 .Is 10.1U
2000 U H S II it M tin Ill
1000 U S Mle ct 8.-J.
3000 Union Pac 1st Is.. .. II7S
3101)0 Union Pac cv 4a II3S
72000 Union I'nc rfd 4s 8t)T4
moon Un llwys S P 4s 3(1
2000 Va (la llrown Ilros . . . 58
looo Va Car Chem 1st 3s. . 08(4
80.100 Va Jtwy 3s 08
HlOK Wab-P T lat rt 4a 2i
1000 West N V & Pa 4s... R4
100(1 Weat Shore 4a 112
looo West Union 4V4s Ii.l
o
Sit
IR
i34
II.V.
HO
OH
74
38
...
73
1.1'i
(inj!
8()4
(17
(II
II7V4
III!
88'4
10 if.
OOH
71 'i
101
8U1
70 ;
774
102
ion',4
111
s.i;;
117
!I34
804
35b
.18
rl
R4I
112
03
1).1
till
II84
74 S
r.sj
r..-,44
in
111
IHlV
80t
08
04
117 14
ll
8
10ti
DOS
71H
1014
774.
10-JJ4
o,it
3j4
80S
3.1H
.18
08'.4
1)7
oa
Arm Ta
Aetna nsplonlifs
AJnx nuhwr Tlr
Amcrlmn-nrllluli Mfff
Atnprlcnn iMnrconl
Atlnntlr Oulf & W I
do nfil
Cflnadlnn Cap Co , ,,
(nn Cftr F1y prii
rhovrolft Motors , .
(ubn Cnnt 8uRflr ,
.'tirtlifl Aeroplane ,,
I)r!(rnfl-flrAburv
Ulsenlohr Tobacco
do pfrl
nmeraon rhonogrnph ,
Flom(h lynn (
Hanktll rinrkr Car . ....
Heinle Mfir ,
Intr Mr rarlne
Ho pfd , , , ,
Knlhodlon Ilronze pfd . . . .
K TP38 St f "o
Maxim Munitions , ,,,
Manhattan Transfer
Mt VH
Otis KiVvntor
Peerless Motors ,
Prrlmnn Him
Poole 13nff ,
S H Kress w 1
Standard Motors
Submarine , gnu
Trlawrle Film ., nif
nid
.. r,n;4
.. 17
.. ns
.. 12
. . :i'
.. 4114
. . 32
. . no
. . s.i
. 2.w ,
. 3.114
:..S
. . 12
, . mi
, . IL'll
.. n
. . .14
. 2.1
. 20
. llll
:?3"
. 8
ps
.'lRn
. ns
. 12
8
United
U S I,
do prer
United Mntorn
White Motors
World Kllm .
Prodi Sharlns
ac tx. com
82'i
B7
Asked
37
17.
Ill
IR
r,:i
71
no
2(11
wtU
32
130
48
118
12i
07i
.LIU
20
27
llll)
224
74
n
112
211
132
101,
12 i
nU
?
r.'J
82'A
37
1'4
tlOOO Hal Lor
2200 Rl A Pen
10)0 T. V pnn,
40110 Im V lat cxI 4a 01j
111)00 do U rs 4HS.IOI)''.
7000 Pa C en 4Ha..tol!4
10)10 P & M Htl (la.. 100
300(1 Phlla Blec 4s.. R34
100 do 3a toijj
23000 Head uen 4a . . 03 '
2000 span Am I 0a..1o2
Net
lllah. Low. Cloae, ehee.
lat 3a 101J4 10t4 lillfi H
Tr 4s 81M ROf. RJVi Ji
I 4i.lll8H 102(4 102V 4
m
Kill
.ISS,
0.1
102
I02V
111
100'i
loiti 4
10(1 ...I.
48 i I
102 . ...
Local Bid and Asked
Chief Interest In the trading on the Phil
adelphia. Stock Exchange today was cert
tred In Western New York and ""
vanla stock, which continued the adiance
of yesterday, going up 2H point before
noon, an advance of 6V4 for two days.
The upward move, which wn brought
about by the changing hands of 138 snares,
was accompanied by rumors that the Penn
sylvania Ilailroad was trying to buy the
company's stock, which Is In tho hands of
tho public, so that the road can be taken
over by the Pennsylvania.
Iteports had It that the road would go
under the Pennsylvania's control under tho
same lines as the Philadelphia and Erie
and the Northern Central. For the West
ern New Vork and Pennsylvania Income, Bs
BO was nsked ngalnat the last sale of 36
during tho week of May 6,
The authorized capital stock of Western
New York nnd Pennsylvania Is (20,000,000,
with a par vall'e of $60 a ahare. Of this
amount there Is outstanding $19,872,768, of
which the Pennsylvania P.ailroad owns $1!,
439.001. BO, leaving $633,764.60 In the hands
of the public. The company's funded debt;
according to the latest available figures,
Is $29,696,000.
This Is divided Into $9,900,000 nJ
gage 6 per cent, gold bohda ZIW
li 1937: $10,000,000 cense "' W
per cent, gold bonds, due Anrll 1 i.!
$9,005,000 Income mortgai ma-i.i'jV
6 per cent, gold bonds, due Apr it fiN
Most activity In the trading "n tviSI
w.......nw tuu.. ila iHwll in Titl ,
llopld Transit trust Certificate. '"N
crnlned nenrlv a half iinii t... en l'jl
.The buying of this Issue seems'!!??!
tne expected goou earnings for , . '
01 amy. ii was said in the aif.iiir
that the earnings will compare , t;
vorably with thq same month 6 VW
vlous year, and, In fact, thn ..,..i
tatloiris that thero will be subsM.ii'H
creases. q""uu
First sales of Cramp trust ,nM
were maae at SB, unchanged, atfd Vi,"
fractional gain wns record. J?1?
Storage Battery was nlso nnet,.--.?
Ing, on the other hand, moved un r
ally In sympathy with the trend JJ?
nlnoL. Im ft,. M V I. " . '"a Off)
Vollev was a weak Ihbiia n,..,"?Wi
trago Issues, losing nearly a h-ifV
and preferred gained a point. Mumi?l
felt 1 point. ' whllRl
Haldivln 88 4
101114
ulaV
nid. Aafte1.
Today
sTANDAnn oir. stocks.
Illinois 100
Ohio 1 . 220
Pralrlo rip- u
H O of California 2 IS
H O of New Jersey bis
S O of Mew York ;";"207
International Salt Declares Extra Dividend
NEW YOHK, June 2. The International Salt Company has declared the rcg.
ular quarterly dividend of of 1 per cent, and an extra of 1 per cent., both pay-
able July 1. Books close June 15 and reopen July 3.
NEW YORK STOCK SALES
Last close.
Admj Express 130
Alaska J Gold M 054
Alaska Gold Mines 2,'t
AUls-Gtulmerj Mfe 27Jf
AIlis-CMfz pf MH
Am Ae Chemical 08!f
Am Beet Sugar 7754-
Am Beet Sucar pf 08M
Am Can.i, 6fl!f
Am Car & Fdy 51J
Am Car & Fdy pf 117
Aqi Coal Products lfio
Am Express 125
Am Hide & Leather HK
Am Ice Securities 29
Am Linseed. ., aijf
Am Locomotive 7214
115.'
22!f
20r
r-2;,:
07
ayi
OS
35 j j
so
117, I17K 11754
162J, 1B0H lB'IH
125H 12515 125H
SJJ 8JJ SJ(
2054 28 28
211i 21 21
73 71 71 U
Am Locomotive pf lulK 101M lOUf 101'
HUh.
HO
'H
23M
27)i
OS
711
08
005f
Low. Close.
140 HO
Mi
22U
20!i
07
77H
P8
S55
59
r .1,1.1.1. 11 ,'8t clr"'- H,"h' r'ow- Cloae.
Am Smelt Ref
Am Smelt-Ef A
Am Steel Foundries..
Am Sujar Reflaloz . ,
Am Sugar Ref pf.,.,.
Am Tel ATel
Am Tobacco
Am Woolea,
Am Woolen pf
Am Wrltlhs p pf
Am Zinc L & Sm..,,
Anaconda Cop M....
AtenTop &S F
AtchT&SF pf.....
Bald Loco Wlu
Bait & Ohio
Bait & Ohio Df
Bank of Commerce,
Bethlehem Steel.,.,
Brooklyn Rap Tr..
Bfown Shoe
Butte & Superior.,,
Cal Petroleum
Canadian Pacific .,
Central Leather pf ,
Chandler Motor...,
Ches & Ohio
Chlnp Cooper
Chicago Great West.
Oflli 07U f6 97
05H 05M 05 05J
52 52 SO 50!f
...I11J4 llUi 111 111
...118 117, 117H 117JS
...130 laOK 129 I'.OH
...20-IJi 205 203 20a
... "4iS 40 45 45H
.... OS' 08K 08 98
...- 2f 21 2a, 23)4
... t3Vj S3)f 2), 82JJ
...84 84 S3 ?3J4
.. .105J( lOOJt 105W 105h'
...101 101 101 101
... 8J BO 87J5 881f
... 02 02H DIM 9154
... 77 77J( 77 77
...170 169 ICO 169
...455 445 445V 445
... h)f 88H 8S 88
... 58 58 68 68
.,, 88H 89 87if 811
... 22K 21H 21H 21H
...177H 178K 170 170
...111)4 11174 ma UH(
..-.108 111U 108M 1C9K
... 63W 65 63)4 e3Jf
... 52. 63 52!f 525f
I3!f 13tf 13 13Jf
Lee Rubber Tire
Lone Island
Loose-V Bis 1st pf .
Louis & Nash
M1YUAI 1n.nwm . ..
..-,.,, ..tuiui , ri
Max Motors 1st pf 00
Max .Motors 2d pf 5715
May Dept Stores 6415
Mexican retroiejm . ... 11171c
Mex Petroleum pf 0014
50 5fi
SJJi- 301i
H 85
...12D'f 13H4'
SGJi
00'i
mi
34
8-1
130
8154
00
.174
ll'if
120
35r
NIJ4
Loicaio ureat west Df.. 37l 371 37 37
Chl MU 4 8t Paul UOX 100)f 08Jf 08)4
Chl Mil & St Paul pf. ..129)4 129)4 129)4 129)4
CCOAStL 6W 5SJJ 50H 55
OOO&StLpf 82 84 83 83
Chl & N W pf. .
imiusiic.
Cluett Pea & Co pf,
Col Fuel & Iron. . .
Col ,4 Southern....
Col & South 2d pf..
continental Can.
Coruolldated Gas 139
163 168 168 168
20)4" 21 20)f ?0)f
109)f UOH I10J4 UOJi
43)j 43)4 425 42W
.-a a.'jj aOH
45 48 45
I01J4 10114 100
139 139
105 19)4
Corn Products Ref,..,., 10)4
corn Frod Ref pf 95 05 05
Crucible Steel m Siii 81
Crudbla Steel pf 116)4116 116
Deo 4 Rlq Gr if. 26H 27H 27
Detroit United Rji 114)4 116 115
DbtUl Sec Corp'n ...51 50 4851
Dome. .Mines 26) 26)4 26M
Kiee Storage Bat 63)4 61 61
..; S9)j 39)4 3851
KlfUtpf -...54 54M 6-5K
Fed Mia & Sm pf. si 37 37
General Electrio. ....... .171 .171 16954 169)4
Ceaenl Motors pf. 118U Jl7)f 11514 iiri
GeodrtdiBy 77 77)4 J6M 76)X
.I15)t IJ6 J15J4 116
87)4 87 87 87
... 46)4 46 45)4 45 W
.J2a 122H 1214 111H
S9H 39) 88 36)4
art uu aoa ha
101 100 101
UU u
31
48
100
130
lOX
95
S2H
116
27
115)i
4S5f
26H
64
38)4
3))
ai
Ocodrkh B F pf . .
uranor t-onsot. .
GtMSfr-Caaanej. . . .
Crcat Northern pf. . . .
Q J eft for ore prop.
CTuJfStatM Steel
Calf States S lit pf 101
Sfclf SUtta S 24 pf fcO)i
lW&ala Cent
1st Agricultural pf. .
7J Xsry Corp'n. ...
tat Coa Cor x t c th
lat Coa Corp'n pf ..
let Paper.
I PPHpf,. .......
iMeCraCop
Iw Nkel T t cfj,...
latMMeof da
ltMMpfcofdo
i;t!FtS4Mjf
Im CMy Soauwn .
1 ? TM
iTINPjIW
...1D4H 1045f 101
wi
. 18
73
11
48)4
45
45K
2Ji
W
71
36H
75
JW44
53
KU
"H
7d
1051
49)
45)f
46
S6
m
71
MU
76
53
"52
"H
75H
10)4
49
44)
45H
24U
9-1)1
71
26)4
74M
mi
m
89
104
63
S2
mi
73)
im
49J
44
45)4
25H
Oil!
71
21H
74W
S3
784
. . 22(i
67)4
-.130
.. UOU
.. 28)4
10fH4
. 40)f
.120
89
OSJi
Minn St P i S S M
Miami Copper
Mo Kan & Texas
Missouri Pacific
Mo Pac tr cfs
Montana Poer . ..
Nat Biscuit
Nat Cloak & Shirt,..
Nat Enam & H Co...
Nat Lead Co
New York Air Brake
VYhll A H
NY' O & West
New York Central ....
NY Chl 4 St L
Norfolk Western ....
Norfolk W pr
North American
Northern Pacific
Ontario Silve. Mln....
Pacific Mall
Tenn Railroad ,
Peoria i Eastern
People's Gas Chl
Philadelphia Co
Pitts Coal Co N J uf. .
PltUhurah Stee! pf,.
Pitts C C 4: St L..,..
PO O A St I pf
Pressed S Cor Co
Pubs Corp'n SI.,..
Quicksilver pf ,
Uy MeelSp Co
Ray Con Copper
Reading.,, ,
Readlne 2d pf
Republic Iron AS.,..
Republic I AS pf
St L Southwest Df
Seaboard Air Line I0tf
sciiuusra A t, pi
Sean Roe A Co.
Shat Aril Cod . .
Sloss-Shef S A I
South Porto R Sug ,
Southern Pacific
Southern Rj
Southern Ry pf
Studebaker Co..,...,
Term Copper
Texas Co
Texas Paclflo
Third Avenue
Union Bag A Paper. .
Union Bag A P pf
United Cigar Stores .
Pnffin Pnclfl,.
U S Ind Afc-hoT.".'. '.'.'.'.'. .168)4
U h W 4 CfrJF j
USQIP AF pf 60
8.i'
66
1U31 ll'U4
93 or,
121)4 120
10 355a
4tf 4)f
0)4
0)a
814
0
0)f
81
121)4 121)J 121
78
23
07
131
ft!K
2S.
'8
iin)4
131
01
2S)4
10734 101
43 49)4
i: n.'04
89 89
06)4 OVi
C3!
34 W
84
130
85),'
00
57)4
0514
10GH
!)0
121)4
':5)j
4)4
0
0)4
81
121
78
2'f
ro)4
130
01
28!i
106 '
42
I3'l
89
00)4
..115)4 115)4 114'f lH)f
8f
. 24
- 67-
11H
.101
, 40VJ
.103!
. lis
. 83
. 05
. 40
.130
. 3)4
. 43)4
223i:
8t
22)4
58)4
11)3
8)4
22J4
57)4
UH
lODj 101
40)4 40
102)4
IWi
8i
00
46
132
4
354
3
8)4
2234
5834
11)4
101H
40
102
nsw
85
90
40
132
4
4214
22 ij
47
48)4
43
United Fruit.
United Kyi Jnv Co
Ua Itrs Inv Co of .
U 8 Rubber 66
10:
98)4
83
00
40
132
4
42)4
2-'li
10154 10314 09)f lOUJf
47 47 47
48)4 47)4 48
IU34 11154 Ul?4
4314 42)4 42)4
10)4 161 ihw
,.lt4 183)4 JJ.3H le334
..... 31)4 3l)f 31)4 3154
. . 54 64 54 64
.. .215 210 210 210
... .09)4 09)4 I8)f 08)4
... 2:1)4 2334 13)4 23)4
..... 654 68 I.6X OBH
138)f 1,41 138 138
... 42)f 43) i 42JX 43
.103)f 100)4 100)4 100)4
.... 12 115 11! ill.'
C2)j 02)4 62)f 62U
6 5M 6)4 5)4
30) 30 30 30)f
0H4 05 03 05
.138)4 139 13754 13754
6834 ISO'i I8!4 15834
23 24) 2234 22)4
Dl CO 61
160 ItU 15914 159)4
OH 0 b)4 g
10f 19)4 10)4 1954
ftA Kflf RCf' en
8SS!?&a'.vv 88$ Tal l
it a a .;; :?:i :n '
Utah Copper bWj
Uuh Secarltlej 16),
Va-Carq Cham 4a
COTTON MARKET GETS STEADY
DUE TO BUVING AND COVERING
Selling Is Believed to Be About at an
End Better Cables Help Prices
NEW YORK. June 2. Trading:, buying
nnd coveringr by Thursday's sellers cnused
a steady tone on the Cotton Exchange at
the opening this morning, prices being 1 to
5 points higher. Better cables than ex
pected also helped to Influence sentiment
early.
After selling about 3 to 6 points net
lower or back to practically the low point
reached on the brenk yesterday afternoon.
tho market steadied on covering and buying
for a reaction. There was continued liqui
dation, but a good many contracts ha-e
been taken out of the market by the un
doing of Liverpool eabjes recently, and the
selling was not so general as It was yes
terday afternon. Trading, in fact, tapered
off considerably toward the middle of the
morning, and prices showed rallies of 3
or 4 points, from tho lowest early In the
second hour1.
The market became steady during the
middle of the day. The technical position
had evidently strengthened on tho decline,
and buying for a reaction was also
encouraged by reports from New Orleans
that spot holders had not weakened and
by the cdntlnued absence of hedge selling
around the local ring. The demand was
by no means active, but July contracts
worked back to last night's closing figures,
while later mpnths sold appoint or two net
higher.
OTHER
Harnett Oil
Cnsden Oil
Chalmers Oil ....
Inter Petrol
Houston Oil
Midwest Ref
Sapulpa net
OIL STOCKS.
3i
2.-1H
4
in'
17
llll
11 i
MINING STOCKS.
Atlanta 11
Hutto Copner nnd Zlno n
Rutto N V 2'5
Cerro d 1'aico 3.114
KlrHt Nntlonal 4 u
aoldfleW Merger H
llecla Mining 4''
Howe Sound r,4
Jim Butler 01
Jumbo Hx 87
Keneflck Zlno in
McKlnley-Darragh (id
Magma Copper irit?
Mines Co of America 'js
Niplsslnir Mines Co 714
Han Toy 1,1
Ht Joseph Lead lou
Weat End Consolidated 13-10
BONDS.
Cerro de Pasco fls 113
Ches & Ohio Da 03'1
ins
MS
218
-.JI
sou
24
8
U U
20
IIS
12U
13
II "1
3(1 '4
r,
13
r
-i-f
P3
SI)
14
no
lit
3
,r;
-i!j
313
05?i
iio nref
Drill, J O
Hurt A Sus t C
do pref t c . ,
Cambria Steel .
i.iei' Htornge ,.
(Jen Asp
do pref , . . . .
Keystone Tel . . .
no t r
do pM
Lake Hun Corp
Lphlgh Nav ...
Lcliluli Vnl . . , .
I.thlKli Val Tr
do pfd
Pennsylvania. . - .
I'hlla Wectrlc ..
Phlla Co
do r per tent.
do 11 per cent.
Phlla Rnp Tran t
Rending
Tonotmh Rel ...
Tonnpnh Mln . . .
Union Trnc
11 ri 1
tl H Hieel
York Rwy
do pfd
Win Crnmp t r .
37
40
mi
82J4
33-;
JIP1
II
II
(IS
10
J
82
2IU
43
ns
27i
.. .40
pref. 3S
pref. 414
c m
loo,
::::: itf
:::::$
83
n'i
3(1
83
KS",
111
311
M
110
ill U
?o
Testerday
Hid. Ashed.
4.1t"
nxvf
3!
it
5JS
8!)
too4
3S
40
fill
82J4
33
llll 14
14
It
OS
10J1
70 i
S3 ,
21
43
r7'
1(?4
Soft
ill!
IH'J
m (5
:tn
41
1
lot
4 0-1(1
n1-.
44)4
S8
S4J4
..ir
Rnu
111
40
M
00
34
111
nn
10)4
77
S3H
27,4
40
42i
II)
101'
-ft
4.1
;Si
37
8.'.4
FOREIGN EXCHANGE
NEW yortlf, June 2. The market for
foreign exchango In the early dealings
ruled quiet. Sterling and French exchange
showed steadiness, Scandinavian and Span
ish exchange moved a shade higher, and,
on the other hand, rubles were slightly
easier, otherwise there was very little feat
ure. Quotations! Demand, sterling,
'.7674 ; cables, 4.76W : franc cables, 690i4 :
checks, 6.911J: relchsmarks, 77 1-16!
checks, 77 l-1677?i : cables, 6.3'aj s
checks, 6.30(fJ!6.351,5 J Swiss, 5.22 SJ'S.23'4 ;
Vienna, 13.2B5J13.30 J Stockholm, 30.06 and
30.16; pesetas, 20.1020.20 : .guilders,
41 7-16i41.9-16; rubles, 30.6530.60. The
above quotations for pesetas nro the high
est reported In several weeks.
RATES FOR MONEY
Call.
New York lit ra.u
Plladelphia ft watt
lloston I .1 S H
Chicago ,. . 3H 4
DIVIDENDS DECLARED
Lake Torpedobont Company, of Maine, reg
ular semiannual of 34 per cent, on first pre
ferred stock, pnynbln June 30. Hooka close
Juno 2(1 unci reopen Juno 3D.
Continental Passenger Railway Company,
regular semiannual J3 per Bhare, payable June
30 as registered Mnv 31 Hooks do not close.
Rubber Oooda Manufacturing Company, reg
ular quarterly of 1" per cent, on tho preferred
Mock, payable June If, to stock of record
uune iu,
American Car nnd Foundry Company, reg
ular quarterly of 1 per cent, on tho preferred
"in, a ui 1 per cent, on me rommon siock, pay
able July 1 to stock of record Juno 10.
May Department Stores. Company, regular
quarterly of 1"4 per cent, on lis preferred stock,
payable July 1 to stock of record June IS.
Canadian Steamship Lines, 1J per cent, on
account of accumulated dividends on the pre
ferred stock, payablo to stock of record July 1.
This will reduce the accumulated dividends to
lOW per cent.
,, Yukon Clold Company, regular quarterly of
i4 centa n share, pajablo Juno 30 to stock
of record Juno 0.
Eric to Issue Equipment Trusts
ALBANY, In". Y Juno 2. Permission
was given by the Public Service Commis
sion to tho Erie Railroad Company today
to Issue $1,250,000 equipment trusts, tho
proceeds to be used to finance tho purchase
of 1000 60-ton self-cleaning hopper cars
from tho Standard Steel Cnr Company and
three locomotives from the Lima Locomo
tive Corporation. Tho equipment will cost
11,632,685 and the Erie will pay $282,585
In cash on the cost.
WHY
United
Western
Oil
M .?!! s
date. Is contained in
n. comprehensive .
tide In the current
Issue of our ni'
srtlptlvo circular
No. 10. Also rt,"
on other securities.
Carroll Felter & Co;
Securities Bervfce Speclaltii.
74 Broadway, New York '
"Principal May Be
Registered"
v
es. rime Onen. IUsh Low. Close.
March 13 II3 13.07 13.01) 12.im 13.03
Jul' 12.H0 12.02 12.113 12.30 12.HH
October .... 12.71 12.72 12 74 12.112 12 70
December ... 12.84 12.8(1 12.HS 12.7H IS RS
January .... 12.80 12.1)t 12.11(1 12.83 12.02
August 12.118 12.H8 12.118 12.111 12.113
Spot 12.70 .'. 12.05
Liverpool Cotton
LIVERPOOL. June 2. Spot cotton was
In moderate demand today nt a decline of
4 points on the basis of 8.43d for mid-upland.
Tho sales were 8000 bales. Including
6700 bales American. The Imports were
1000 bales, none American. The market
for future.s closed steady at a net decline
of 3'41J points.
NEW YORK BUTTER AND EGGS
NEW YORK. June 2. BUTTER Unsettled,
general trade quiet and supplies heavy. Re
celpta. 111,078 packages. Extra. 3014 c.i higher
scoring. 313U4c.j Stale dairy. tnT 30c.t
Imitation rreamcry, 234 020c. '
EGOS Hljch grade firmer, average quality
Irregular. Receipts. 23.440 rratea. Storage
packed firsts or extra firsts. 23V4 Mates regular
Packed extra firsts, 23'4sie.i regular-packed
firsts, 22W23c. . whites. 2II27c. 1 browns. 25t
23',4c; mixed colors, 2324Vic.
BAR SILVER
bar sliver was quoted at 31
York 1
In London.
day. off l'4d
commercial bar sller In New
to-
quoted at 04 a. a loss of 3Tsc.
IIIIIIIllllllllllli(llliili
1 Investing With an Eye H
On the melon Patch
m
LOCAL MINING STOCKS
TONOPAH STOCKS.
Bid
.U2
,0S
.23
.24
.25
Jim tlutler
MarfCamara ....
Midway ...,.,,,
Miapah Extension
Montana ...,,,,.
nunncrn oiar .......... "o
Tononah Itelmnnt ail
Tonopah Extension ............ '.'.'o 8-16
Tonopah Mln ......:... . su
Rescue Eula .' " " 47
wEnd ::;:::;;::;;:::i:2o
OOLDFIELD STOCKS.
ittue nun .,.:.,',';:.':
nooth ,..,", ,1,,!.'.;
Bulldog ..'.'. ',,..:''',''
COD .... ..... ...1
Combination Fraction . .
Dlamondtteld If B ....
Daisy
Klorenra
'
t.it.
Goldfleltl Mercer .......I!
uillbo Extanslon
M.inu
pro
oana ien , . . .
Ulltcr Pick .
..,.
,.,,,
,,i..
Palry Axfec
oueriy
MISCELLANEOUS.
LTImf.
Nevada Hill
Nevada Woader
Tccapa. Mining . ,
'oa
.nt
.ui
,04
.OH
.05
P4
.41.
,.63
.in
.87.
.11
.on
.113
-.10
. .01
. .Oi
. ,18
.2.00
. .13
Asked
.04
.10
.23
,211
,28
.21
4S
"W
,48
).23
o-i
,18
.02
.05
.10
,00
.04
.48
.05
.tl
,811
.13
.07
.07
II
.02
.01
2:lf
Wthuh.
Wabiuhpf X
Wb4a pf B
WeU-rip'
Wwt UptoaTel
West B it-
Western Manbad . ..
Wheef & h B Ut pf
ItlyifOwUBd. .
WBr U tlrf R
60
,ffl
S1K
Uiti
I6U
i2H
Hit
60ii
2Ji
51H
fcOJi
16J(
UH
wi
filH
42
UH
jn
Uuo(J (llvidind.
,-J27 2Sil Vi$ti 128(
, U5 85 05 as
..ea mu au, am
32H 33'S 3I, 31J
a HH "uy, UH
Via W 27S 24
107 110 X07 109U
Urerpcol Cot'pn Statistics
UtVERPtjai Jtm S. Followln
i w4ly suttoo ttitli n-ure n bale
K'XEiaambSP&xsa
ZSMfftttisrti9i xp9iinK
BANK CLEARJNGS
SiSHi-clSrtwi tod' compared with corresponding-
day last two years:
10IA IB1R .K..
Boi,,in-,rt.u:'5!:,M g:Sig-S?? 2i5SW81
K.J"k 'S-73WW 3$rftS ST3.M8,T7
. . 73.
.12.'gJ0.473"
UMi
pioppsAiSf
OTIXQ BAILWAY
COMI'ANV,
TUB rONKEI
i-enn.jlvaDLi uallroad Conipaor. 1....
vorK appurtenant to abolUhmtut' of grid
croaaliwa ou toa cuatnyt WU Branch. "a
Healed propoaala for the work uodar the fni
the Chief Etnlneer, Boora"007. Broad StreVtBti
tton. PbJJadilpbla, untlf Juni i7 lMlf i li
o dock am T
VU, Contract No, 4, for grading, masonry
and appurtenant work for rhanglag &
tracks fronv a. point gauth of Gravr lan to
Chestnut HUl Station, and- constructing LrlJiii
" .IllghUnd and 3wino- venues. ISd
Of Hartwili avtnue. . ana
r-iaua, apewociuMi m.na Lltuk forma fnr
ouuined at (ba of So of the
Room eof Ilroad aifui s,!,i..'
riraaxvad Ly iha fiimuHln. Jit
w Cofflpasy. PtacjJlvanU RaUroId Comjiiu?.
Hfw. n lwk ar (ur au Bias.
fe.fi-..
s,fih5s.xr,r
vai xmxmmfi
v-Mzmm
Kiifhuw.
m
aUsnr corporation! haTe adopted
e policy of quietly allowing ex
tra profits to accumulate, or alio
put them back Into tho builneii, to
ths enhancement of Investment vaU
uei. Thus a melon patch tl enltl.
rated for the enjoyment, of etock.
holderi.
RFrom time to time the accumu.
ted profits are distributed In the
haps of extra e'Wldsndi, Or tho
added Ttluei ire capltalUed In new
tock. which Is divided imong tho
ihareholdr! In proportion to their
lioldliigi.
fl Sight now there are teieral big
corporation! which will ihortly dli
tribute itock dividends of from 60c'
to 100 to their itockholdtn.
fT A pamphlet en tha subject of
itock bonusei and lubicrlptton
right! will be seat free to those
requesting It, together with ctrcu.
Ur nimtng the corporations tint
tr" Nut To nr stock dividends.
Ask fcr 17-PL, Including booklet
explaiumg
a
WANTED
PHILA. UNDERLYING
PASS. RWY. STOCKS
MELLOR & PETRY
Members N. Y. & rhlla. Stock Exchantei
336 COMMERCIAL TUUST I1DILDINO
"Tht- Twenly Payment Plan" S
btKsvnttuJiajrlOcs
(Esubllshed 1109)
40 Exchange Plce New Vor!c
0 is
!IIIIII1III!!IIII!I!IIIH!IIIIIIIII1
TAX EXEMPT
Listed Rails
TO YIELD 4.6S
chuaetts, Connecticut and Virraont.
Details upon re?u.
N.W.Hals-y&Co.
Htl CUstnut 81., PIiUadelphI.
Hew York Chicago San Franciaco
The Twin State
Gas & Electric Co.
First and Refunding
Mortgage 5 Bonds
Tax refundable in Pcnn.
These bonds are secured by
a mortgage covering at a di
rect lien all fixed property
now owned or hereafter ac
quired., Replacement cost as
shown by the .report of the
engineer is about one and
one-half times the face value
of all bonds outstanding.
Earning! and volume of busi
ness have iteadily increased
ince the organization of the
Company ten year ago.
To yield about 5.50
Send for circular 395 which
gives detailed Information.
I
William P. Bonbriglit & Co., Inc.
MO It HIS WISTAK STIIOUD. Jr.
3Janacer
437 Chestnut St., Philadelphia
lloeton
New York
Iindon
iVIIllapi P Honbrlght i Co.
Detroit
Tarla
tlonbrlghl A Co,
In our monthly bond list we have instituted
brief explanation of the terms used by Bankers inH
describing investments.
Our ;
June Investment Circular f
discusses the above subject in addition to presenting! 1
a numoer ot desirable bonds which embody this vf
portant feature. rJ
s
Copies will be furnished on request. 1
Edward B.Smith & Co
ESTABLISHED 1892
BANKERS
Members Philadelphia and New York Stock Exchanges
1411 Chestnut Street, Philadelphia
30 Pine Street Ncw York
Merchants
Make Use of the Morris Plan-
it permits you to make loans without tying up ready
assets or straining credit. -- ""
It makes repayment easy.
ht,a-njl,t "lyi ,bu8,fle8 men's rates, and is supervised
by the State Banking Department. Call or write for details.
The Morris Plan Company
of Phlla.
1507 Arch Street
LOUIS J. KOhli.Prea.
HOWARD H. HENRY, V. P.
R. LKO HUNT. V. P. Treat.
Sri-Cm. alKETINfiH,
sru,?
TOWN. VHIWDKU'lia
Alloc
AaiocUt
at. and
.Wl
tuueu
MAN1IE11X IiyiLDUMi AMI
Akrim ll'fmv' ....... "-
....:.'.1 Uff UKU1V.
spwUI tlnz of tn stockhoMtra of this
cfattjo will b bia at tb oatJa ti VIS
elation, at tha southwest cinirS ?i....5!
oa approval pr dlaapprovar 1 th, pis,aid S;
WIU.IAM g-i?fe. &?.""-
UUiKQTqBV pff ACCOt'JSTJJI
"if
catma vuiiio
A(0(Uataa
saSsija'
wtsm&mw
FIDELITY TRUST COMPANY
Broad Street Office
r
;eor;BjoaulCliestiiutSte.
i.