PT&f9
"r,..i 1 Ti 1 1 - - - . . ... . .
FINANCIAL NEWS
- " ' i "" ' '
EVENING . LEDGER-PHILADELPHIA, MONDAY,
t
sy
.VIGOROUS ADVANCES IN MANY STOCKS
' ? MARK DAY'S TRADING IN WALL STREET
- '-j "
Upward Mpve in Reading Attributed to Resumption of
. t Accumulation by Banking Interests Strength in New
York Central Due to Rumor's of Increased Dividend
High Points in Today's Financial News
Philadelphia bank statement showed decrease in surplus of $6,371,000 as
compared with previous week and an increase of ti,.125,000 in loans. Govern
ment of Newfoundland sold $5,000,000 three-year notes. PiHee of bar silver
higher xn Ncul York and London. New International Mercantile Marini
readjustment plan provides for issuance of $10,000,000 new bonds to take care
of 57 per cenU of outstanding isuc. Surplus of idle freight ears on June 1,
55,eu. May earnings of National Properties Company fl0i,02S above same
month of previous year.
' NEW YOIlKi Juno 12.
Tho first day's operations on tho tock market, as part of tho new presidential
campaign, passed with vigorous advances In many stocks, but was regarded as a
disappointing- movement Irj tho general list. Thcro was a vigorous advance In Head
ing', which was assumed to be a roiumptlon of accumulation by tho banking In
terest In Philadelphia and New York that had previously taken that stock all tho
way from bolow 80 to nbovaOfllL
Now York CentraUwas taken .n largo blocks by strong houses and advanced
to.abovo 108, selling at the highest prica touched since last January, nnd there was
heavy trading at times In United Slates Steel common, which matlo a gain of
more than one point, crossing 87.
In addition to these advnncea ihcro wcio special movements In a number of
Other, stocks. Statements,-which wero circulated on tho floor; that I'onnsylvanla
had. given notlco that'll will pay GO for Long Island minority stock, caused that
stock to advanco flvo points to 41 H
American Bept Sugar and American Sugar refleotcd the political outlook most
clearly, both of theso Issues being influenced by tho prospect that a substantial
tariff wlHJo maintained on sugar Imports for soma tlmo-to come. Tho trading
In United States Steel common on ill advanco to nbovn 87 was attributed more, to
public buying than to any other factor. Tho Barney people denied tho stories of
a bull syndicate, and Insisted that tho Btock can easily cross 100 without any pool
manipulation. :
Dividend rumors had a good deal Jo do with tho strength shown In, New York
Central. The directors should meet within a couple of days, and tho Impression
prevails that they will lncrcnro tho dividend to C per cent. It is expected that tho
dividend rate oh St. Paul will also bo Increased to C per cent. Tho nctlon on thu
8L Paul dividend will bo taken on July 27. Tho only weal: Issuo was Marino pro
fcrred, which was In steady supply because of printed statements In regard to the
now plan, making no provisions for paying accumulated dividends.
Increase in Cash Due to Shipments From Country
NEW YORK, Jun6 12. In banking circles the lncreaso In cash In last Satur
day's bank statement was attribute 1 to shipments to this city from the country
and partlcuiarlyChlcago, to take advantage of tho higher rates for funds, actual
Or believed to be Impending. The (situation leaves moro money available, and at
the same time tho local loan posltlon'ls unchanged so far as the brokers are con
cerned. Bankers ore not liberal In offering time money, believing that Indications
point to a larger demand ar.d higher rates later in tho year. Tho markot for
time money on good mixed Stock Exchange collateral Is about per cent, higher,
'ftt 3U3 per cent, for 60 and 00 diys, 3i3?i per cent, for four and five months'
and 3 per cent, trading figure for six months, nates on all Industrials nre
per cent, higher than-tho above, anl some money Is being loaned for six months
,at 4 per cent. y
Government of New Foundland Sells $5,000,000 Three-Year Notes
NEW YORK, Juno 12. Lee. Hlgpinson.& Co. have purchased J5.000.000 three
year '5 pet cent, notes of tho Government of Newfoundland. Proceeds from a
part of. the issue are to bo used for refunding maturing obligations. A public
offering will be mnde by tho bonkers at an early date.
Initial Dividend for Oklahoma Producing nnd Refining
NEW YORK, June 12. The Oklahoma Producing and Refining Company has
declared an Initial quarterly dividend of 2 per cent, payable June 30 to holders
of record June 26.
ACTIVE SELLING
WEAKENS "WHEAT
Sales for Export Help a Little.
Prospects of New Crop
Among Bearish Factors
CHAIN BELT WEATHER FORKCAHT
CIIICARO, June IS. The i rather fore
cast (or the next 3(1 hour follow:
Illinois Fair north, partlr cloudr tonlxht
and Tuenday; not murh change in tem
perature. Missouri Fair northeast, partly tlomly
toath and went tonlrlit nlul Tuesdayi not
miifli rnange In temperature.
Mlconln Fair tonliht nnd probably
Tudnxi not mnrh rhange In temperature.
Minnesota Tartly, clondy tonight nnd
Tnetdayi warmer northwest tonight.
Iowa Tartly elondy tonight nnd Tuesday)
not mtirh enanse In temperature.
The Dakota Tartly cloudy tonight and
Tumdayi -warmer tonight.
Jjrask and Kannn Tartly clondy and
twsslblr unsettled tonight and Tuesday) not
much change in temperature.
CHICAGO. June 12. Active liquidation
weakened the wheat market sharply1 today
and atopies orders were caught on the
movement downward. Final prices were
above the lowest, however, on covering,
helped by sales of about 600,000 bushels
for export, part of which was American
business.
Prospects of new wheat coming to mar
ket shortly on top of a large old crop sur
plus, for which there Is little demand, weak
ness at Liverpool and better weather con
ditions were among the bearish factors.
, Receipts In the United States continues
free and arrivals at Winnipeg were heavy.
John Inglls placed the yield of Kansas at
about 105,000.000 bushels, compared with
earlier estimates of 80,000,000, to 30,000,000
bushels by other experts. He estimated
the production In Nebraska at 60,000,000
bushels.
The visible supply In the United States
decreased 285,000 bushels for the week
and Is now 41,198,000 bushells. The
Englsh market wag effected by liberal
arrivals from abroad and large native
offers at lower prices. The freight situation
was declared to be more favorable to buyers
and storage room In Great Britlan was
reported Inadequate. Total shipments from
all ports to the United Kingdom for the
week wera 5,884,000 bushels.
Good buying' and liberal decrease In the
visible supply rallied the corn market after
It had been weak on a decline at Liver
pool and good weather In the West, The
visible supply In the United States Is now
IJ, 393.009 bushels, a decrease of 2.11, 000
bushels for the week. Receipts were light
and Ui absorption by cash Interests were
moderate. Shipments from Africa to the
United Kingdom were liberal.
Leading future! ranged aa follows:
uaiQiri
July . ... J.W 1.0?
lvt I 03 l.OSH
Xha. ... I.IM 1.03K
:orn mow o"Xrrr--
eTt 70S
XM3 -. . Wilk VJ-
0t r
Dec. t 38 8g
Lard
July J.3 18,70 12.BS tl2.70 lit.43
luh:"" M J. sis.03
July
New York Bond Sales
m
nil
vu
?0 Amer Abt Ba
...!900 do deb .la
V-W1Z Anslo-Krench L fls.
IDOOOO do ct -Jlis lirt
(1000 Amer Wrli1p-R; :'?$
DSUIIU do Cv i 10(10 10 4
ffi ,","." Co' lino l's ' u. 'SS
'Ji)0(MI Chi MiSil! en Ss IOmU
aoiMi Krle conv 4b hSi-'a" 4iif
?,!! KHS co?v P Hf !
1000 Jtud k Slan In Ba
iSn inI"S .'' -.-- 74
L'nlKM)
Hnnii
lnim
juuu i-oniiara 7a i-n
llioo Mo Kan & T 4tf..... Ii!
own io rao 4a jiu
211000 do et ISm .'.' 12i?
mono
1000
ni id n r k ir a ii ,t. ,,'
22000 N Y Hwy adj ":;; BH?
- ! ,0Kn aa .." (m
lino! Sac,J!C Tel OS 100I
13(100 Heading gen 4a. . . . . n.1!
m Hepub Cuba B. 1004 !n
.00011 nock la and rfd 4a. 1 1 7H
lftono m u t b r aw I ;,: 4?
l.Mioo do Ine w I A'u
3000 South n-iY (!:' .iixP
snood Houth rao cv ii; : : : 88
i.mhi no CV ret r n Ha 111.11:
.in .. '---::.t
Itlah. l.ov. Clone.
102H
lO.'S
UIJ4 11754
Kll'lJ 102 J
lojii mil:
no so
1135, 034
03 l).1
10(HJ loilij
10(14 inns
02 02S
2t 02
100H looH
lOO'i 100
fcflK unit.
102
I no
J. 102
W !!!9l?
'I" 1111
7741 77Ii
a., 7151 7i'J n'l
Mg 81V, nSg
... 20i L'!II "UK
Interb It T ref ti',. os! iiJS n2
fcSf S 3 ?: :;::::::is" isj'
Mont Power Ba ...... 08 1)8 08
N Y C ria I...114H lllTt iiiji.
1.1 114
iu ll--i
IMH .18
1)8 'I 08 Ii
OO(k) .In ,A m
4000 Bouth Rwy sen 4a
.1)000 Taa Co cv da ...
3800(1 Third Ave adj Ba !
lOOOO U H Steel Ba a f
3200O U 8 Smelt da .. '
2OO0 Va Itwy Ba ....',,
S4000 'Wabaaii In fia ,,.
no
.. 71
., 7011
. ,lo.iH
..ii.i
, . 08K
..lii3t
D2U 02H
d)lM BdU
ni'4 oii
looI 1011C
8 on2
73
1 71
02
a ,ssa
iU 104W 10.l(J
ft ?? 7'?.f
?8. ??
1)3
01)
73
7()H
31
loo
HS
105 103
B., 113
08 9HK
103H 103'i
Co I
Jahr
BPt.
19 Close, close,
.94HJi.04H !Pd!
69
HSU
eoC
38S
S8U
iloiS
7054
1888.
39i
'III
l.Olj
It
70
tdl
70H
...13.03 12. PI 12.03 12.03 '12.47
I3a 10.00 12.63 tl,00 12.84
Juir -J!12 ?M2 a! 8" J2.so tst or
Pepw .. ...it.jid .tl.v JL.OU
Eti . .
Bti,
t'ilktd.
21. 8S 21.23
Spot "Wheat Easy at Liverpool
MVERPOQfc, June 12.,-Spot wheat was
isy today wim Wue stem quoted at lis,
dwllne of Id; Wa. 1 northern spring Chicago
siausted; Ha, I han wlnefr, J0 ?a. a drop
t M, No. 2 r4 winter, 10s Jd, unchanficd;
No. 1 north era Manitoba, 10s Id, a decline
tit Id; No- 3 northern Manitoba, 10s. ti a
1ms ( Id, and No." 3 northern Jlanitoba.
lUd. a loea of d, and Plate at 90114,
uanea. 31qut- was, auoled at lis, 2d, a
faatlna ot 3d,
IOSW YORK mTTMA ANI) EGG8
nw spur, iw xz. BtnTEH Mbrr
MJjMaM. vm vaa. Kecolpu. 14.143
. r . w.wr sraoea uaouaud.
id. valuts
LONDON STOCK MARKET '
Ruasian Victories Continue to Cause
Strength and Activity
LONDON, June II Under the Influence
of continued spectacular success by the
Russians In Volhynla and Gallcla. the
stock exchange markets disnlaved sinnith
and activity again today. The feeling re
mained cheerful.
There was a fresh advance In the gilt
edged section. Drokers reported that the
demand for investment was gradually ex
ceeding the volume of high-class stocks
available, notwithstanding large purchases
of treasury bills and exchequer bonds from
the North and Midlands where war pros
perity is the greatest.
Americans were irregular, but trading In
them wag not brisk, Qn excellent earnings
Canadian Pacifies showed firmness. The
toner of domestic lines was good. South
American rails presented a checkered an.
pearance.
Strength was In evidence In Kaffirs on
"the favorable report on the output of gold
a( the Hand In May. .
Shipping Issues lacked steadiness be
cause of realUlng. There waB a spurt In
Marcoryls and oil descriptions were In favor.
Allied bonds were strong.
New York Stock Sales
Hldh. lxw,
130 130
18!
39
22)
27U
83
70
100
87ti
68! i
Close.
130
18!f
38
22)
27!
B2H
ontf
mi
68
Atchison ..-.-Canadian
Paclflo
..A.
Lfndon jj y
: its m
- .M
69
104K
nfti'
6 U
.op Z
sat: 'L
103 a
au S
137S 8
60S .....
liitm
t4PQ4. iutpu.
iiW. UOJKHtUd.
iIJM IWiKji' s ssa.
a sttrw a WMBW u London toJjT m
if tiv uvt i i-jsm
wmmmg
Flm A Ohio
Chi Mil L St Paul
Erl . 4t
ria isi Dta 07
lUtnala Cantral til
IjjuU a NaQ ....138U
I'tnnaylvaatA .!!!,'! a
Readlns .. 108
aouinern rjemo .,,,, 103'
Union Paclde ... 1441
IncrtSM. Decreaaa.
RAILROAD EARNINGS
CHESAPEAKE! AND OHIO.
First week June ITvS, JIX
From July 1 44.TMij
OltAfJO TBONK.
ytfat week Jua Hlh!H
From Julr I M,63,40
CHICACJO. IN-DUNAl-OWS A WWISVlXtB.
E"A IRS J"0 ,M2J-??8 . T-f?
BP1W JVt -.
MW.VBAP0L18 AND ST.
I,0S
O.aUU.V1
92
tmi
Just
Jt
t JMI.lsfl
loujs
m'Htltt mj$
l.at cloe,
Adams KipreM 130
Advanco Ilumely tdH
AdV numelr bf 39H
Alaska Gold MltiM 22M
Allls-Chalmers Mfc 20H
Alllj-0 Mfgpf 83
Am At Chemical fiO
Am Ag Chtm pf 08H
Am DcetSutar KU(
Am Can , 605(
Am Can pf Jio
Am Car A Fdv IWr
Am Coal Products..,.., 102
Am Cotion Oil S2J4
Am Cotion Oil pf 08),
Am Hide A tieather..,.. 10
Am Hide A Ij pf 51H
Am Llnsred pf , , 48Ji
Am locomotive 73W
Am Malt Corp'n 7)i
Am Malt Corp'n pf .... 35M
Am Smelt & Ilef ni
Am Smelt A It nf 113 li3W 11314 11314
Am Smelt pf A 05! Wl 05!f OSJf
AmSlctl Koundrlra...... MH 51W Cl CHf
Am Siiear llednlng . ..,.111 112U 111K 112H
AmTcl&Tcl 120H 130H 130 1301,
Am Tobacco 204 J f 20o(f 20-i!f 2aVf
Am Tob pf new.. A.. .1.107,' 107f 107Jf 107!f
Am Woolen.... .'... A7H -I8H 48 48JS
Am Woolen of ORU IIHTJ ns! 0814
Am Writing r pf 2.")) 2fl(f 25U 2.!f
Am .inc L & Sm 8SH
Anacond Coo M v. 8-1
Asch UoallMtlon 4t,
Aica Top isf,
Atch T A H 1 pf
18
34
22H
27)f
82(
08f
mu
83U
67
111H 111), 111H
tin, mm out
102H 102
m mi
00 08
10!i 10
r,2M mi
40(f JOJf
74f . 73H
7!f 7H
30J4 33K
08W 08
102
56
98J,
10!i
62H
40J
7354
7!f
30!f
08
BANK' OF FRANCE
HOLDS MILLIONS
OF BRITISH GOLD
England Allows It to Keep
Up Guaranty of French
Paper V '
SITUATION IMPROVING
JUNE
12, 1916.
Sales in Philadelphia
87),
S3
414
.lOOJf 107)f 100 107
...ioo; 101 iooj( 101
80
84H
4
fifi!f
83
1)4
All Cowl l.lnn 11,1 lin 11(1 110
Hald Ijoco Wks 00!f 02 005J 00)4
nalt&Ohlo 02 02 02 02b
Halt A Ohio pf 7034 77 70; 77
llalopllas Mining 2 2)4 2)4 2)4
nothlchcm Steel 413 411 441 441
Drooklyn Ilap Tr 87 87!i 87!f 871!
llutlo A Superior 0.1W 1)0 0314 03!4
Cnl retroleum 2114 22 22 22
Oil Petroleum pf... ",.... 4814 48!f 4RH 48'4
Canadian 1'aclflc 170' I70!f 178 178
Ccnlral leather fi-IH OflSJ-CO 63!1
Central Leather pf 112!f llljf 111)1 111U
Chandler Motor 118 117 110f 110'
v-nes a onio 00!J 07JS ami my,
Export Business Grows in
France, but Agriculture Feels
Scarcity of Labor,
Chllo CoDtwr
Chlno Copper . . ..
Chi Mil A St Paul..
Chi M A St P pf ...
Chicago (lre.it West.
Chi Oreat West pf..
0 C C & St I
C O O A St I. pf . .
Chi & Northtmtcrn.
Chi It I A Pac ....
Cluett Pcj X. Co....
Col Fuel A Iron
Col .V Southern
CompT ItecCo....
Continental Can ....
Consolidated (las....
Com Products Uef 10
Corn Prod Ilef pf 0,1
Cruclblo Steel 80
Cruclblo Steel pf 118
Deero & Co pf 02
Denver & Mo (Jr UH
Den A nio Cr pf 28l
Distill Sec Corp'n 47)s
Dome Mines 2714
Erie 30
Erla 1st pf 5454
Erlo2d pf 47
Fed Mln A Sm pf 35W
General Electric 172
General Motors pf 1 14
Clranbv Cortsol fcOli
Greene-Cananea. i'. 4B!
Goodrich I) K.. 77J4
ureat .Northern pf. . .
"G N cfs for ore prop
20! 21'4 20)1 21!i
tau r,m r.ix mh
lOO'f l()l4 KX)!4 101
130)4 130!4 13034 1303
13 13! i
37'i 38)f
:,h'i no
KM MH
12l)'4 131
. 20K 20J4
. 73)4 70
. 43)4 43)4
. 33'f 10!'
. 45)4 47)4
.101 101
138)4 130
0)4
05)4
8734
1334 13!
38U 38J4
38)4 38)4
8-l'f 8-13f
130)4 13(l4
20)4 20U
53 i
41
3334
45! f
KM)
130
HI
03
K0J4
11831 118
02 02
15)4 14!f
4VA
30)1
47)4
101
130
20! 4
05T4
80J4
118)1
02
1534
3031
40
30)4 28!
4034 4S
27'4 27J4 27' i
30J4 30)4 30)1
53!1 55)4 5334
47!i 47 4731
3S 37 38
17.T1 171J4 173!i
11431 114 114
87 87
47 40J4
7834 78)4
12131 12234 122
3734 3834 37'1
By YVES GUYOT
Special pntte lo fti-cnlnn Lrdotr
'l'AntS, Juno 12. The Bcnernl situation
la Betting bolter from month to month,
notnbly as exports nre picking up dcsplto'
tho rarity of workmen. Consultation of the
llnnk of Franco's statement shows this
clearly.
There Is n constnnt diminution of paper
resting under tho moratorium. For tho first
lime the Hank of Franco shows' in Its state
ment gold belonging to n foreign country.
It shows this week 09,000,000 frnncs be
longing to the Dank of England. The chief
reason for this Is to keep up tho Dank of
Franco's gold stock, nnd for this purpose
tho Dank of England consented to permit
tho actual gold to remain here while, the
credit Is shown on nccounts.
It must be reaognlzed thnt while tho ex
ports nro better, agricultural conditions are
not Improved, owing to tho scarcity of
labor, nnd thcro will have to bo a general
Importation of cereals for the needs of tho
country. The wheat acreage, for oxnmplc,
both winter and spring. Is off D per cent.,
while tnklng the nVerngo itl nil the grain
crops tho ncrcngo Is off 1C per cent. '
80 Am ltt Sugar 80
IS Am tlas 12014
12 Am rtwr pref.. H8$4
1 Huff Sua t c BlU
10 do rref .... nH
M0 Col F t ..... 4r,
. B Con Trae N J, 7
720 Wee Stnr .... fl.lH
100 Ills Bee JO
400 nrla nn't
BOO Osn AmihAlt... aivi
i . iiofprct .. ..
000 Interboro Cons.
101 Ins Co N Am. .
100 KhnPft(t rtnn.
i'75 Lake Hun Corn.
4J Irfhlah rNav ...
18I lrhlnh Vallfv
to Ih Val Tran.
in 110 prer ...
7nn Penna ,,
to Phlla Cn ....
30 do pref ii...
40 ilo enm riref,
2805 Phlla Elee ....
BIO p n T tr ctfa..
4 I'nua 'i tac . . .
Nt
Close, thee.
,n. i
120
OS
rii
B9i
71
il)'t
5Bfc
ID!
70)4
5.'
BOjl
40)4
as
is)
I'M Ilenillnz
10 do 2i pref
220 Bo vy .....
000 Tonopah Jlet ,
lSO.Tononah Mln ,
11 Union- Trao .
.Ill u i 1
7T
42,
80.
.,, I, u vt I lit,,,,, f.v
Has t; s himi ..... R74
200 w N Y A Pa., lrt'4
5 Warwick I ft H. 01
ni. .....
48)4
3..
0.1)4
41)
80i
8j
21134
G4
1"
70S
fl8 J
2.11 234 J4
4 4 '. .!
! X S
" X
4 ;
ti'
t
T
WTmTWER MARKED IMPROVEMENT SH01
IN THE FREIGHT EMBARGO SITUATK
Surolu's of Cars on Railroads of United States and Cal
OUipiuo u Mnnf.li KK 9.24 Wn firm r.1 T)- "
ada on ru uj- " -,-- ,u,.t iiup
erties Earnings Increase
a lf . a.
," t HIT C O O,
.3!? 2m Cramp .
107.1 Tork Hwy ..
4
18
42ji
8Hi
8J
49ti
8,1
14
42.
s?H m
nv 1
8S -
a?
1014
W
IIO.NDB.
1)3 1
80'
SIM,
I500O AltMh ynl,4.!'l)7h1'
1000 Am O A B'Ss.. D.l'i
40l) Klec A I Trll 82
juyy ivcy -rei 1st r.
iiiiuu 1, ,-v cons 4
201)0 1, v cn lis r
1000 rirt nr rm X
umi iai.lTOP 4'ltll. Ill I'' , .'V.
1000 Pa 60 pen 4Hs,l01T4 l()J!4
loon I'M in i v.. i.r r.. 1111 nil lilt
BlOrt Phlla nfee 4s.. HI. S3.. .8!
lini
Net
Close, clme.
1)7.. ...1.
II3U .....
1 2
I".
4t,:iiii 1Q2H M . ..,
r 73,iiiiH lioji IJ, t J;
4Hs.10(iH liiow I" JU '.4
Iftlli lllll',
7O00 nead gen 4s . . 11.1 M L'?
14 1 It v
do S Ull'j
i..j nH .1. tiir
1000 Un IDs t c 4s. .
Local Bid and Asked
HUGHES' NOMINATION
MAKES CURB ACTIVE
Cubn Cano Sugar Takes Big
Jump Flemish-Lynn and Mid
vale Both Sell Well
83
18)4
70
12H
68)4'
40
45H
2o)4
00
80
20!4
73
02
Gulf Slates Steel S04 88)4 80)4
(juir siaies s an pr S9!4 80 89
Illinois Cent l()S 107J4 107)4
Int Agricultural pf 51 S2 52
Int Harv N J....'. 118 118)( 118
int liarv Lorp n 82)4
Int Con Cor v t c sh. ... 18)4
Int Con Corp'n pf ...... 75)4
Int Paper 12)4
Int paper pf 58)4
Insp Con Cop .in
Int Nickel v t eft 45)4
int m m cor uep 20
Int M M pf cof dp 00)4
Jewel Ted 84)4
Kan City Southern 20)1
K C Ft U & M pf 72
Kayscr J & Co 00)4
Kajser J 1st pf 117
Kelly Sprlnii Tiro 7411
Kennecott Copper 5.1)4
i.acK steel Lo 7l)j
Laclede uas
Lake Erie & West..
Lake Erie & W pf . .
Lehlch Valley
Lee nuliber Tiro 52)f 53)4
M.n.W Illd 1EI f O . rn
w,l-tl A.is is, in. .
Lone Island
Louis & Xash
Mackay Cos
Maekay Cos pf . ...
Manhattan Shirt Co.
Maxnell Motors
Mai Motors 1st pf .
Max Motors 2d pf .
May Dept Stores
Minn St P & S S M
Mexican Petroleum. .
Mcx Petroleum pf. . .
Mo Kan & Texas. .. .
Mo Kan & T pf
Miami Copper
Missouri Pacific 5f
.mo rac ir . 6
Montan. Power 85
83
1011
70)1
12)1
58)4
40),
40)4
20'
071
8714
20J4
73
04! 4
11011 110)4 110)1
74)1 74W 74)1
S4J4 K)5i 54)4
73 71J1 72)5
.100 102)4 101!4 102M
. 14)4 15)4 14J1 15)4
8.1)4 83J4
s;
47
78M
122
3S)4
88H
SO
107)1
52
118)1
S3
10
70!!
12)4
58)4
40)1
40H
25)4
00)4
87)1
20)5
73
04)
.. S4
. 30)4
..133
.. 82
.. 0S)1
.. 07
85)1
. 89
. 08
04)4
30
S3H
02)4
SO
30)4
133
81)1
OS
07
SO
88J4
5S
05)1
.39)1
83h
52)4
SO
39)1
133
81J1
OS
07
80
88H
58
65)4
80
41)5
133)4
81)1
08
07
80)4
80
58
05)4
.124)1 120 124J4 120
.108)1 10S)4 107)5 107J5
. 00 06 00 00
4)5 4)4 4)4 4)4
1D4
35!
OH
0)4
80)4
24)4
00)1
18J4
142
11
35H
24
. 65)1
. 18)4
.137
11M
35)1
0
5!1
80
24)4
63J.
18
140
UK
351
0)4
0)5
80)4
24)4
6051
18
140
. 01)1 03)1 01)1 03)1
100)1 10854 107)4 1071
. 42)4 43 43 43
64)1 05 04), 04)5
. 28)5 2SJ4 28)4 28)1
135 135J4 135 135),
.115)1 116 115)1 1151
. 751 7 754 7)4
25 25H 25 25
34 35 35 35
. 58)4 59)1 58)4 58)4
29tf 30)4 30 30
103 103)4 103)4 103)4
bil U)5 So 86J1
00H
4U
00i
40
164
3)4
47)1
08
22J4
107
47J1
40)5
00)4 00)4
40 49
104 104
3)4 3J5
40)1 47)1
OS 08
22)4 22J4
104)4 100)1
4714 47H
45 4U
Nat Knam 4 S Co .
Nat Lead Co
Nev Con Cop
New York Air Drake,
N YNII&II
New York Central ...
N Y Chi & St L
N Y O 4 St L 2d pf.
N YOllV
Norfolk & Western ..,
Northern Pacific
Ontario Silver Mln,,.
raclflcMall
Pac Tel Tel
Penn Itallroad
ritts Coal CoN J ...
Pitts Coal N Jpf..
Pills C O&St L
P O C &StLpf,.r.
Pressed 8 Car Co
Pullman Co 104
Quicksilver pf , 3U
Hy Steel Sp Co .47
rty Steel fap Co pf 08
Hay Con Cop.,., 22)4
Reading...., iftUf
Headlne 2d pf , 47
Republic Iron A S 47J4
.Republic 1 &S pf.,.,.. ,11154 111)1 1UJ4 UU4
beaboard Air Line 1654' 1751 17 17)1
Seaboard A L pf 30 40 40 40
Sears Roa & Co 185 186)1 185)4 185M
in V ?S ?1 w ' 16 " 17
ShatArJiCop 31H-32 3151 31)5
SlosskShef 8 & I 54)1 '55 63)1 55
Southern Pacldc.,...,... 00 100 09)4 09K
lu!Kern5y'V H 24 23 3)1
Southern Rypf.,, ,69 70)4 70 70
StudebakerCo l)4 143)1 142)4 142)4
Tenn Copper 42)1 4354 43 43J4
TewCo 102)4 104 ,03)1 104
Texas Paclflc .., 11 12)1 12)1 12)1
Third Avenue ,65)4 67)4 65)1 66)1
SS 5! J f e,i' -I.. .? B AH
"."" v pi. ,... iH 11 11 11
UnderTypewr 103)1103 103 103
Un ted Clw Stores 07jf 0714 07)4 07)4
Unon Paclflc ...13851 139)4 138)1 130M
Union Paclfltr pf 82)1 82)1 82)1 8)1
U 8 Ind Alcohol 160)1 161M lb0)l 160
USOlPftF 24 2454 21)4 24)4
KtSIPAFpf 63)4 63)( 53 63)1
United Rjrj InT Co 051 0)4 054 0)4
JJg8"!:!f ;;; " MM 55M 65K
U S llubbetlst pf 100iT 10044 in(H innu
"gf'wjtorp'n... 85)f 87H 86)4 87)4
U8Sm RAM, ........ 78
USS It&Mpf... 51)4
Utah. Copper . 82)
Utah 6ecurltlej 10
Va-Caro Chem 4nj
a-isro mem pi ioy
Wabash ,. ijj
Wabash pf A ,60)i
Wibuh pf B 20
WeUs Kargo Exp 129
West Union Tel 04
West E4M 61
WestKiJI lit pi. ... 73K
Western Maryland ... 31)4
vveyaaa-Drutoa pf
WBlr Overland .
WlUjri Overtind pi. .. 112H U2
Wisconsin C'Mlral . ... 43 431$
nyviiu j. ........ ,ij(j j3jj
Sos4 M 4hrt4wi , .
SEW YOflK, Juno 12. Politico excited
n broad lulluencc on tho trading in tlio
outside market from tho opening today
nnd tho CIiIciibo developments were In
centives for nctivo buying of many Issues
In 4hat market. Cuba Cane Sugor fol
lowed the lend of the sugnr stocks on the
Kxchnngc, advancing over 4 points nnd
crossing 02.
This movement reflected Improved sentl
mctn moro than nnythlng else, but It was
naturally attributed to tho Increased
strength In the raw sugar market here,
nnd to tho expected maintenance of tariff
provisions which may mal-o the way
smoother for a closer nrrnngement between
the Atlantic refining Interests nnd the
Cuban producers. '
Atlantic (iulf and 'West Indies was also
helped by tho political outlook, especially
by the expected favors which may bo ex
tended to American shipping. The upward
movement In that stock made further
progress, carrying Its price up to the new
high record of 02 V4. .
The final steps in the Flemish-Lynn
merger, which will take place on Saturday,
was followed by brisk buying", with the
stock being In good demand all tho way to
6 to 7. Lynn Phonograph sold at 10V4
to 10. Mldvate Steel "was more nctivo
than It hns been for weeks past, advancing
from 05 ?i to 67 .
Thero was 11 good demand for. Canadian
Natural Gas, which Is beginning to respond
to extensive development work. The trad
ing today was at 1 to 1.
The motor stocks showed a mixed tone.
United Motors opened nt 82 $i nnd dropped
to 78',S and Perlmun film declined from
147 to 112, while Chevrolet rose from 2BG
to 202. Saxon from 81 to 81, nnd Peerless
from 20 H to 27 14 . Thero was active trad
ing In United Verde Extension, which rose
from 27. H to 30. The oil stocks wero gen
erally firm with the majority showing frac
tional gains.
l.NDUSTIUALS.
Huff & Hus t e r. 1 ' i
110 nrpf ml
J (1 Ilrlll 37
Baldwin VI
ilo nref
Cambria steel
Klectrlc HlornRo ....
Ocnernl Asphalt ....
do pref ....,
Keystono Tel
no t c,
do prer
I.nke tiup Corp
I.ohlcli NnvlRntlon. ...
IhUh Vnlley
Lehigh Vnlley Tr
do prcf
Pennsylvania
I'tilltt Electric
Ph in Co
do .1 per cent. pref.
fin 0 per crnt. pref.
rnun itspin iran 1
Meailtnir
Tonopah llclmont . .
Ton Mln
Un Trac
U O I
U S meet
York Hwy
do pref
Wm Cramp t c
Today
Hid. Asked,
, M
, il.
, MS
. IIH
, 10
7IM
s?fc
5V
rH;
M
Ail
'Si'
: ni
. 37
n'."4
on
40
lit 4
107)4
S.1
no
:il
71)4
IB
ir,
on
m'i
77.
M
8$
41
:ii
)4
1!)
Kill
V
43
M)
H7'l
fl
37"4
(13)4
Saturday
111.1. Asked.
31 M)4
lis ll'l
37 41)
111 IHU
1IIH
R3 R.I
11.1 (1.1)4
3.1s; 3I4
7I) 71
14 13
ll4a 13
(IS III)
H4 ml
L'Nti SI)
40 41
:ih 311
41H 42
IN 1HH
lot,, 101(5
(if! n",A
4'.'4 43'
84 884
8.11 8(1
13f 14
3(1)4 37U
84 8.1
COPPER JIAnKET DULL
Aetna Kxplnslves
AJax Rubber Tire
Amerlcan.nrltlsh Mfff
American Marlonl
Atlantic Oult V I
Atlantic Uulf & V I pref..
Canadian Car Co
Cnnndlan Car & Fdy pref. .
Chevrolet Motors
Cuba Cane Husrar
Curtlss Aeroptana 4ft
IlrlzEs-Seabury 127
rjmerson rnnnograpn i'j
Klemlsh-Lynn OS
Haskell & Darker Car 344
llendee Manufacturing 27
Inter Merchant Marine 2.1)4
Inter Merchant Marlns pref ml
Kathndlon Uronxa Dref 10
Maxim Munitions 7
Hid.
.. 181,
. . (18
. . in
. . 3
.. .17)5
.. (17
. . 83
..250
01 -4
Manhattan Trans
Met Petroleum .....
Motor Products
MIdVBle Steel
Otis Elevator
Peerless Motors .....
Poole Unc
Perlman Rim
H 8 Urease w I ....
Standard Motor
Submarine.
Triangle Film
United Profit Sharing
United Motors
U S L, It II com ....
do nref ...........
White Motors
World Film ..
;
1
. 70
. on
. on
. 27
.100
.140
:inA
:6
STANDARD pit STOCKS.
Illinois 104
Ohio 227
1'rairis 1 ipe i 213
8 o of California 240
8 O of New Jersey 323
11 d new lorx 201
OTHER QIU STOCKS.
narn.lt Oil , ,., 3K
Coaden Oil 13V4
Chalmers Oil , 4
Truer Petrol . , low
Houston Oil ,,,, I11U
Mldnest Heflnlne ,,,, 113
Sspulpa lletlnlng 11H
Asked.
10',i
(I!)
18
a'l
nii5
37
k
2.1!)
(12
n2
132
12;
(1T4
.114
20
2(1!4
1110
21W
22 )J
7.1
117
02
27H
111)
1'S
8V4
38H
'l
71)
3'4
51)
fg
MININO STOCK8.
Atlanta
Hutt Copper A Zinc ....,...,,,
Hutta N. V ...,,,"!
Cerro Da Pasco .,....,
Klrst National ......
OoldAeld Merger
Hecla Mining , ,,,.,.. ,,,
Howe Bound .,,,,.,.,
Jim Jlutler ,,.....,
Jumbo Extension ..... . ,., .
Keneflck Zitio .,..,,,,,
MiKlnlty Darrah , ,, ....,
Magma Copper ., ,.,.,,.,.
Mines Co of America ...,,,,...,
Nlplsslng ,.,,
San Toy
St Joseph lead ,
West End Consolidated ,
BONDS.
4
10
44'
El
18
51
1
J.I
Wi
M
Corro de Pasco 69
Che. & Ohio 5a . , .
UldvaU 8s
INDUSTRIALS.
Acma Tea . ,
American Products
....US
.... 95b
OSS
54
inn
230
217
232
s:u
200
14)1
8
11.
ikh
(17
IIH
l
38)!
ii
a
B)i
100
01
14
no
$
16)1
100
115
0514
TH
55
B1U
Producers nnd Selling Interests Deny
Story of Big Allies' Order
NEW YORK, June 12. Thoro !ys been
no chnnge In tho copper metal markot, do
mestic users buying only small amounts
for delivery during the last three months
of the year. Some foreign Inquiries nro
In the market, but nil tho larger producing
nnd selling Interests deny that any order
has been placed for a substantial amount
for tho account of the Allies. ,
It Is pointed out that tho sellers arc
booked on copper almost to the end of the
year, and although some metal Is to bo
had for late months, tho amounts nro so
Insignificant In 'comparison with previous
business from the Allies that any contracts
thnt could or would bo mado would Involve
1917 shipments.
It Is said in tho tratlo that Inquiries from
abioad are In the market dally, but none of
theso has led to a belief that a big order
Is pending. Nevertheless, it Is true that an
opinion prevails that European countries,
and especially tho Allies, will bo In tho mar
ket hoon for their requirements for next
year, nnd when this business Is actually
placed and announced, It Is expected the
copper market win get another Btart up
ward. NEW YORK COFFEE MARKET
NEW YOHK. Juno 12. Tho coffeo mar
ket opened qulej and easier this morning,
with first prices 2 to 4 points lower. Sales
on the call were 3260 bags.
The market continued quiet aftor the
opening, with prices nt the lowest of tho
morning. Thero did not nppear to bo any
thing In the way of fresh news to cause
expectations of a higher market, and with
Europe, on account of the war, not to bo
figured as a factor In sustaining prices at
tho opening of the new crop season, bears
contended that any undue preBsuro to sell
may cause further declines.
The demand for spot coffee continued dull,
with nn easier tendency, except for tho more
desirable, grades of Sentos,
It Is, said the present Brazil crop will
exceed 15,000,000 bags and the world's pro
duction of nil kinds will be next to the
largest ever grown.
It was figured that the 1916-17 crop of
Rio and Santos would be 13 H to 14,000,
000 bags. .The spot market was unchanged
at 9 Ho for IUo No. 7.
Today's
opening
June
July
August
September ..
October
November .
December . .
January ....
February . .
March
Anrll
May 8.31
Hid. Total sates, 32.10 bags.
7.01138.03
.8.1.1
.8.23
8,33
'8.33
8.47
Saturday's
close.
T.OOft'S.Ol
8.0I4J8.0H
R.UW8.13
R.10W8.21
8.24 ta. I'll
8.20$8.31
8.34 8.3(1
8.38(2)8.40
8.428.44
8.47W8.48
8.52W8.34
8.5708.58
O.J.
o
V t M
118J( 117)1 11SH
80
62
83
SO
4374
100
14J4
61)1
20)4
70
63
82)1
19tf
41H
100
14)4
50H
28j
131)4 130
U4H 94!f
63)f 83
73H 73)4.
t iU
70
52
8214
10)1
43Jj
100
HJ4
51
28J1
131)4
04J J
62H
73
u
11SJ4 116JJ UOJl H6J4
303 300 305U 300
WW
" ' 5
137U 128.
4'
FOREIGN-EXCHANGE
NEW YORK, June 12. .The only feature
In the foreign exchange market In the first
hour of business today was an easier tone
in rolchsmarka. and Vienna exchange. Busi
ness was very light Quotations: Demand
sterling, 4.75 11-18; cables, 4.75 7-16; relchs.
marks. 75 16-18 and 76; francs, cables.
o.m ; cnecu, b.9 . owiss, caoies, 5 Jju
checks, 5.21 U: Stockholm, 30.55 and 30.65
Vienna. 13.15 and 13.20; guilder, cables
li; checks! 41; lire, cables. 6.3TV.
checks, 6.38; rubles, 30 and 30.10; pesetas.
20.20 and 20.25.
The market In (he early afternoon failed
to show any Increase In volume of business.
Sterling- Held steady, wbtle relchsmarks Im
proved slightly, .and Italian exchange moved
up a trifle for cables. -'Quotations: De-'
mand sterling, 4.75 11-16; cables, 4.74 7.14.
frano cables. 5.91 H : checks, 5.S1H ; relchs
marks, 776 ' 1-18; lire cables, .3T;
checks, 6-38; Stockholm, 304930.10; pesetas.
S0.202 25.
BATES FOR nIONBY
1 Call
tw York. ....
i-miamupm ... ,
4 t
war n?
Ffk
iuii
PUBLIC SERVICE
SECURITIES
'Tte dependence of mu-,
nicipalilies on Public Service
corporations is the strength
of their securities,"
C, Consumers' Electric Light and
Power Co. (New Orleans, La.), 7tf
Gumulative Pfd.
C, New Orleans is one of the foremost
cities of the south. Its shipping and
port facilities are unexcelled.
Ct Dividends have teen paid on the
Pfd. without lapae since issuance and
on the common since 1912.
C We recommend this preferred stock
as a highly desirable inves'tment yield
ing a large return, at present prices being
6.86.
C, Fullest investigation requested.
Barken Ayiiig S.biig
Latvd TitlQ Bldg. Philadelphia.
I10MI.S. UVlTJVi.Y 1ST. IMS. ""
Pursuant to terms of Mortksse dated July 1.
1003. (25.000 or Ubnda havo been drawn for ii
dtmptlon at 102)4 and accrued interest, as of
July 1. ISIS, out of moneys then payable to
Blnktns Fund. !,!
twenty ttonit for II 000 each.
B .It .I9'?00 "5 SliTas S4 S4 344
J85 401 4f 17 624 037 04? 788 70H 783
Tsn bonds for 1S0O. each:
8U 8i8 887 008 041
1002 1088 1030 118 1118
Above bonds, with all unmatured coupons at
tached, should be presented for paymeot At offlca
of Trustee 00 or after July 1. 1918, when ail
Interest tlwrson will vcase.
QJBArtD TRUST COltPAror. Trustee.
utunuj H BlUAitr aa. Treasurer.
vemwjc. jit PtuAni aa.
PbllsdU?hU, P June 2, 1B16.
plKKOTOBY OF ACCOPKTANTgl
- " CwtuisJ rubllt AtwatBto
i8 JgMb uWi S8jmm
T,m
.1 iM,- BTONJt Jtf
effort, on the part ftnUmA
nnd shippers throuBhout tocX
llevo the cmbareo situation by "" '
cars as soon as they nro "n,0r,eAl,Jtr"ni
to bear fruit. The surplus , of Mta tr. ght
cars ori the nrst or 1110 i" '"": :
tho highest since October of last yenr. tho
total on tho lines of ho United ftntes and
Canada, on Juno 1, being 55.244 This IS
nn lncreaso of 24,637 as compared with
May 1. Four monUis ago, or on Mn'ch I,
thcro was a net shortage of 20,651, belrwi
nt tho tlmo when the embargo was at Its
worst. Man of the cars then wero tied
up In New York, awaiting for ships so
thnt they could bo Unloaded, ntld ninny
cars wero held on sldlngsUhrougliout Ilia
country. ' ., , , . .
Tho turn for tho better In the freight
situation began In April, there being a sur
plus of 3CB0 nt that time, nn Increase of
24,201, as compared with March 1. Tho
May 1 figures showed a further lncreaso of
26,907, On Juno 1 or last yenr umii vo
n surplus of cars of 209,028. Idle car
equipment hns been reduced to n consider
able extent by tho renewed activity In the
coal mines, calling for moro enrs with
which to send out the conl.
Thcro Is still some congestion, however,
and It Is mostly at the Knstcrit sea
board points. Itallroad onlclals of ronds
operating eastward from Chicago nnd St.
I.ouls rctwrt a better slluntlon, although
trnfllc conditions nro by no means nil that
could bo desired.
Timid conditions In the territory ot tho
roads wnrrnnt the malntcfianco of the
present volumo of business handled by the
roads for n long tlmo to come, but compart.
.MUCH COTTON IS SOLD BY ONE
Ol'KKATOl. AS MARKET OPENS
Prices Drop, Duo to Heavy Selling,
After Steadiness at Start
NEW YORK. Juno 12. Selling of Octo
ber, December nnd Jnnunry by ono operator
on n. larger scalo than hns been witnessed
in a long tlmo wns tho feature of the cot
ton market at tho oponlng this morning.
In nil this Bupply was estimated to havo
been between l.'.OOO nnd 20,000 bales.
Tho buying was scattered among room
traders nnd It wns said nrouml tho ring
that this nbsorptlon seemed to hnvo loaded
up these speculators who aro now long.
Spot houses wero moderate buyers of Oc
tober, At the start tho tone was comparatively
steady with prices 1 to 0 points lower, but
as tho session progressed and room traders
refrained fiom buying further, an easier
tendency developed and nt the end of tho
first 15 minutes, July and October, which
wero firmest early, fell 4 points, whllo Janu
ary dropped 2 points.
The early selling movement carried prlceo
some 9 to 10 points net lower with October
selling at 12.88c, or 12 points under Satur
day's high lovel. Liverpool was a mod-
ernto buyer during tho first half hour and
prices later showed rallies of 2 or 3 points
from the lowest. There seemed to be noth
ing In tho news thnt created fresh senti
ment around the ring nniUtho maritet was
dull after, 11 o'clock.
The market showed little change lato
In tho day. Trading was quiet nnd .prices
worked back to within 2 or 3 points from
Saturday's closing figures on a little scat
tered buying, encouraged by steadiness In
New Orleans nnd talk of bullish supply and
dlstrlbut'jn figures from tho Census Bureau
tomorrow morning. Detailed weather re
ports wero considered favorable, but failed
to stlmbulate offerings, and tho trade seems
to bo ns much Impressed by the uncertainty
of growing conditions during July nnd Au
gust ns by tho prospects for a favorable
condition at tho end of June.
sons with previous yearn mn.,
volume of tonnage nro still RomL, '
reliable. Official, nf ml "t, fffcl 1
report traffic holdlnir tin . " t
classes Of freight showing n rain "l!
year ago of about 7 per cent ' n J3
Tho gross operating revenues at it,. .
Riuinry companies now owned Br.;
by the National Pronen I,,. rJ r.con''l
for May. 1916, 1739,742. Thl I. SST
bf M04.028, or 16.35 per cent, in 7 .?NJ
Ine revenues of tho snino -".l"
May. 1015. Thevgross operatlngZl
ii live iiiuuuiH emieu May 31 inie '"
3, 466,271, nn lncreaso of Jboomi !.')"
per cont. over the samo period for iii 1
Asldo from United Stat ri.i "' 1
thero waR very light trading on thati
delphla Stock nxchango today n!
nrst two hours of trndlng about ..2
shares of tho stock changed ImnJ T ...f'
lng tho trend of tho price In the NwTii
market, nnd by noon It was up riLt!
tlnlnt. TCnr dm flnv nine. II.-- . . -.' rl.S
changed hands, tho prleo being over t'M
til nit as POnrfl
I'rlco movements In distinctly Ioa.i
fractional advances, nirptrin o. "ml
tery, enrly In tho first hour, moved wl
qunrtcr, but tills gain was lost bcfor.V?.l
dny. Lako Superior rose a fmrti.. .."ra
Philadelphia Kapld Trahslt trust $,!
nntoi. wu.a
Vy ndvanclng 1 point In tho nfttrnom, 3
73, Consolidated Traction of Ss
SI
strongest lsjSjl
2.
M .."i
lilt it new ton mark for Mil. ... J?fl
Hallways roso a point nnd a fraction, tiS?
lng 15. Heading was the Btronwit SS
gaining nearly 2J$.
Sat. close. Open. High. Low, Close.
March 13.33 la 1!H 13.31 lli.L'H 13.31
July U'.hl l-'.SO 12.KS 11'.73 1J.78
October 12.07 1L-.U7 12.07 12.8H 12.03
December 13.15 13.1.1 13.13 13.0.1 13.0S
January 13.21 13.17 13.18 13.11 13.15
August 12.V1 12,82 12.82 12.H2 12.K.'
Spot 12.SU 12.60
Liverpool Cotton
LIVERPOOL, June 12. Spot cotton was
quiet at an advanco of 2 points on the
basis of 8.42d. for "nild-upland today. Tho
sales were 6000 bales, Including 4000 bales
American, The Imports were 4000 bales,
all American. Futures ended easy at a
net advanco of ',4 point to a decline of
1 point.
The
Guaranteed
Mortgage
HTHE Company's
guarantee shields
the investor from all pos
sible annoyance and
irregularity in the payment
of interest. It assures that
all matters that might af
fect the lien of the mort
gage are fully safeguarded.
Circulars on Rtguttt
Philadelphia Company for
Guaranteeing Mortgages
William It, Nicholson, President
(10) Land Title Ilulldlnr, Philadelphia
MARINE PLAN PROVIDES FOR
. ISSUANCE OF NEW BoftjH
- v
Fift.V-RP.vrin Por Cnnl nf 1-1..1-. wl
oauu w iiu nutireu
NEW YOniC, June 12. The plaa'3I
lu.ujuauurai ui mo international Vm
cantllo Company which has been aere'd
by tho various committees representing Us!
COmnnnv'fl Konilrltlnq rlntntlc n L.u.. ?
- " nicn WSf
prouauiy do oiuciauy announced this wjif
provides that 67 per cent, of the pressSl
outstanding bonds of tho company sif
bo taken caro of through tho Issuann'p
J40.000.000 new 25-year G per cent. sirf
lng fund gold bonds n'nd tho balance to tfE!
No now notes will be lssueil h SI
company unless It becomes necessary to 1
so, b6cnuso of Insufficient funds in Out
iiciiaury tu meet uu 01 1110 cash obllgillarfl
to tho present bondholders. Tho new boshi
win uu laaucu uh 01 ocptcmDer; so thatUal
win..tii wm iiuvu mu ueneiit 01 tne esnV
nigs tor 1110 next tiireo montns, which stl
plus will bo ndded tofunds already In tail
in umi:iiiimiiiK iim uiun payment to
bondholders.
Application Is to be made to the coo
shortly for the restoration of the ni
to the stockholders on tho samo lailj'i
uciore mo appointment or a receiver,
question of whether dividends will be 1
on the preferred stock Immedlatelv an-
the property Is returned to the stockholdw
Is left to tho discretion of the new boat
01 directors, wnicn is to uo chosen for B
company. No back dividends are to be ptH
until earnings warrant such action. M
The preferred stockholders are to law
live representatives on tho new boari.'
common stockholders two members,' 'tni'
bondholders one. while it Is understtscpl
mat mo American international Corpw1
atlon. as -tho holder of a larire block'ifi
preferred and common s'tock, will be-nif
rescnica, as wen aB J. i'. juorgaiv r IX;
by reason of that firm's close connection
with the British Government, and the rV
malning members will be composed,o!i
enough Interests Identified with the cow!
poration.
EIIIIIIIIIIIIIIIIIIIIIIIEIIIHIIK
M The Promising Future
of Motor Stocks
The proiperity belor enjojtd Ir
SZS ". isaaiag automoblls minufiotw.
ST en Is not only reflected la frestir
CS market actlrtty for motor itocli,
SS but alio la actual and ponlblt.U. -
S crtioa auirioutions or jrotiu u 1
pr itocsnoiaeri. xnu moro pinion-
m
larly applies to
OrerlinJ Chalmers
Chandler Cherr6!et
Sludebiker Saxon
Maiwell Peerless
White , Reo
191 Q Our rreit Ifctiir Stack Softk.
Err anslyzlnr SO soourltiss. will U
r sent upon request. Aik for II rl
rrr Including booklet explaining
E "The Twenty Payment Plan"
19
PROVINCE OF
ONTARIO
,5 Gold Bonds.
Due June 1, 1926
Price 101 and Interest
Circular on request
N.W.Halsey&Co.
lit! Chestnut St., Philadelphia.
New York Chicago Ban Francisco
BONDS
Carefully selected securities, of
proved merit. ,
Bend for Circular.
MELLON & PETRY
Members"! ftMn"
35 C!.'!,CIAL TRUST BLDQ.
18 SOUTH BROAD STREET
WJtHTED
Syracuse L. & f. 5s 1954
'
.REED A, MORGAN & cK
$mT&kiLik iaai.
rrr (rtabiibed isoe)
40 Exchange Place Nevr Yo.
!!!!!!!!1II1!J!IIIIII!IIH
Established lite, Juiu) fl, ""j
KURTZ BROTHERS
BANKERS & BROKERS ,',f
(BULLITT BUILDING)
BEQ TO ANNOUNCE THE
REMOVAL
OF THEIR OFFICES TO THE
SECOND FLOOR OF THE
wonnis BUILDING
1421 CHESTNUT STf
PHILADELPHIA
( xtltt? -nn r77vlS
VVdOl LSKJinVM
The vein in the shaft has totdtnti '
to four feet ana U running si?4
of ttO a ton average. It Is ettlifiu
that West TJamx Jms In liaht ?
ii.ott.aaa nt , 3
ROBERT E. KEMERER
Memtwr Standard Stock EiclisM'.
Toronto,
ass iinirvi-i. in Tin . VHILA. '
Lombara 8U33 ilata 1
SS Broad Street, New Tork
DIRECT PRIVATE WIRES TgJ
l NEW YORK AND TOKUfllwi
sksasMMsssssssasssiHsflsSMsaaHMiHpaaMOaBiMaoMMWiHssMsl
-
INVEST IN M0RTGA6ES1
hi 5,456
Recommended by
BEN T. WELCH
1328 Chestnut St.
FRAZffiRfi'Co1
INVESTMENT BANKEU3
Broad and Simobi
i II IM'i '