Evening public ledger., June 14, 1916, Night Extra, Page 18, Image 18

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'' FINANCIAL NEWS
XX --" ---; .... -i-ir i 1 ' i I, B- - -- -i-
1
EVENING LETOEJR PHILADELPHIA, WEDNESDAY, JXjTNE 14, 1916.
ABANDONMENT OP MOTOR COMBINATION
MEETS WITH FAVOR IN WALL STREET
Kjfcgktion of Those Issues to Secondary Place a Step in
&' br J4,. a. .C il tii.1 T i . I Tt
-ivcaujuauuuiiuui. vjuuuiwuna inspiration uoes up
on Statements That Dividend Will Be Increased
mt
K
High Points in Today's Financial News
.Proposed motor consolidation, which was to include Willys-Ovcrtand,
abandoned. Additional gold to the Amount of $3,300.CO0 came in from
Canada Fifteen per cent, extra dividend declared by Electric Boat on com'
htort and preferred, 6 per cent, extra on United Shoe Machinery Company,
initial quarterly of J 1-2 per cent, on Northern StaUs l'olutr and initial of
J (W pir cent, on Pan-American Petroltnm. Expected that uw loan to.
France tmll be arranged Boon, being $100,000,000. Price of bar silver lower
n New York and London.
New York Slock Sales
Adams Kxptfsi 139
AtasU Oolil Mines 22
Alllj-Chalmors Mtt 27
AllU-OMfrpf M
Am As Chemical . ..... 09
Am Ucct Susar... ,,...,. 89!
Am Can..., fil
Am Cat ft Fdy 60
Am Cotton Oil .......... AS
Am Hide & Leather..,., 10'
Am illds ft I. pf f,l'
Am lea Securities,,.,,., 28
Am Unseal tf... 48M
Am Locomotive...,,,,.. 7.IU
High. low. Close.
Ilili 13U HW
211. 22
2ft f I
K
09' (
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6S
60
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00
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NEW TOUK, Juno 14.
Further progress In the readjustment of conditions In connection with tho
fc natural formation of a basis for a bull movement wero In evidence today. The
relegation of the trading In motor stocks to a secondary position was ono Im
portant stop In this direction.
Tho activity of tho motor frroup nnd the violent advances In those Ifsiics had
done much to restrict business In securities jrencrally, and the abandonment of
tho newest motor consolidation, announced this morning, was rcgnulcd with
favor by leading financial Interests.
WIlfyB-Oveiland, which was to have been Included In that merger, sustained a
loss of 28 points early In the day, falling to 277, from which It rallied to 284.
Btudebaker yielded sharply at first and then developed a Btrong tone, and Max
well Motors weio In good demand at higher prices.
"When the flurry In these stocks ended heavy trading In Inspiration Copper
attracted most attention (to tho stock. Tho sculo of buying was extremely largo.
32. Tit Blssell took 25,000 Shares, Van Antwerp, Blslum & Fish 16,000, C. D. ilurnoy
&Ca. 10,000 and Ituttcr '& Gross 10,000. This buying, cairled tho price tip from
48. to 60, The movement was accompanied by statements that on Juno 21 tho
directors will Increase tho dividend. In some circles it was Insisted that an addi
tional dividend of CO cents a share would bo declared. '
The advanco In Inspiration caused confident buying In many other copper
stocks, and that group was the most prominent feature In the last half of tho day.
American Beet Sugar continued Its upward movement, making a gain of moro
than 4 points, selling above 94, again lifting Its high record. There was general
, buying of many other stocks, Including United States Steel common, Reading and
"Union Pacific. Pool activities were evident In American lice Securities, Amer
ican Cotton Oil and Corn Products.
Six Per Cent. Extra Dividend on United Shoe Machinery
BOSTON, June 14. Directors .of tho United Shoo Machinery Company de
clared tho regular quarterly dividend of 60 conts nnd 6 per cent, extra In cash'
(11,60) and 6 per cent. In plant company profeired on tho common stock. Tho
usual quarterly dividend of 374 cents was declared on the preferred stock.
Northern States Power Declares Initial Dividend
NEW YORK, June 14. The Northern States Power Company has declared nn
Initial, quarterly dividend of 1 per cent, on its common stock, payable" July 20
to stock) of record Juno 30.
Initial Dividend for Pan-American Petroleum
NEW YORK. June 14. Directors of the Pun-American Petroleum and Tians
port Company have declared an initial quarterly dividend of 1 per cent, on tho
company's $10,000,000 7 per cent, cumulative stock, payable July 1 to holders of
record Juno 17. v
$3,300,000 Additional Gold Comes From Canada
NEW YORK. June 14. Gold to the amount of 13,300,000 was lecelved from
Canada and deposited at the Assay COlce for the account of J. P. Morgan & Co.
This brings tho total on the present movement up to $31,396,000.
Electric Boat Declares Extra Dividends of 159'o on Preferred and Common
NEW YORK, June 14. Extra dividends of 15 per cent, have beon declared
on the preferred nnd common stocks of the Electric Boat Company, payable June
30 to holders of record on that date.
WIDE FLUCTUATIONS
IN MOTORS ON CURB
Announcement That Big Merger
Is Off Causes Sharp Declines,
but Rally Brings Gains
y-
New York Bond Sales
NEW YORK, June 14. The announce
ment that the latest motor consolidation
had been abandoned caused some wide
fluctuations in motor stocks on the Curb,
but, after sharp declines In several of
those Issues, they not only recovered the
losses, but made sufc-tantlal net gains.
The widest movement was In Chevrolet,
which dropped ten points, selling from 240
to 230 and then rose to 250. United Motors
sold, early In the day at 75 from which It
advanced to 80, 'and Perlman Rim, after
falllnr from 139 to 134. rosn tn 136. Whlta
Motors was In good demand without regard
to the other motor stocks and advanced from
8 to 59,
Most Importance In the general trading
was attached to the dealings Jn Atlantic,
Gulf and West Indtos, which, according to
Street goMlp, wlll'soon be put on a liberal
dividend basis. Early sales were made at
58 U, from which the price rose to the new
high record of 63 Preferred stock at
the same time sold at 55 i to 57.
There Was a good demand for Cuba Cane
Sugar, which advanced from GIVi to 62 ?i.
and Mldvnle Steel reflected steady accumu
lation, ranging from 68 li to S7H. The
belief prevails that a dividend will be paid
on this stock In July.
Flemish-Lynn was steady, with Bales at
7 and &, The oil stocks moved within
narrow range, Coaden & Co, being traded in
from 25; to 25 U. Metropolitan Petroleum
old at 21H. and the United Western
ranged from 2Vj to 2U-
INDUSTRIALS.
Hid. Atkrd.
Aero Tea ..,....,,..,.-, ,51 IV.
do dm :: : imt nst
Attn Bxploilvtg 18U
Aiax nubber Tiro . ..., (V7H
Amerlcin-KrltUb llf , in
America AUrconl a
Atlantic dull & W I nau
do prtC an
CatudUn Car Co .,,., AT
da pref HI
Chevrolet Motors , ?4i
Cuba Cam Huxar ,, ,. S2'S
Curtla Aoroplans 4J
Srixgt-Baabunr 130
Saurian Phonograph ,... lli
Flcmlah-Lynn ill.
SUtkill Uarktr Car 81
teadM Manufacturing 23
BUrnattonal Mer Marin ....... 23ft
do prtf OS
Xttlhodlon Bronx pref 0
ilailm Munition SH
Manhattan Trana v. ....... . t
SlUvela steel .... .....,... BIS
iitavalo s . . .
Motor Troducta . . . .
f)l Elvtor
rer Motor
Ptrlman Rim . . .
3001? nincrlng: . . .
S B Krear w I
standard Motor .
ltlih.
JISMOOU Analo-rrfnch ft oil
II0OO Amer Tel clt 4 fll4
1000 Amor Tel conv 4a. . . .tn2'4
IDOO do clt 14a KiSS
SHOD Amor Writ Tap S 8(1
.Vino Armour Co 4j .. .. ,3'i
127000 Atchison gen 4h Kit,
20000 do ndj U 8".
.10011 Allan Co Line l,... Ul,
20000 Halt & Oh .1 ........ inn':
24000 4a ., ,...'. . m
170011 do rv 4'W till
Iliou do Sivn 3(4 a nu'l
120OII rietll Htr-1 rfd .', llt
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, -"7, r.7, r,74
!im ItltZ fiVILr nB7
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Subniarlna
Tfianel Film
-stjd lisnt Shartnx ....-,
Unlttd , Motor ,,
V a J.luht A iltat com ....;,
On prtt i ,
Wlilti Motor . ,
"Woild PUm
niiin uiu ,, ,...... f
STANDARD .OIL.
lllnnL. let
site ;:.:.:. 23t
rsirw ri99 ,.,,...33
or cailiorma . ............ 250
wr Jerler , ...OS'S
4Nw i orts , , . . .sin
OTHElt OIL STOCKS.
Isdo A Co 3
ahqer Oil , . .
"& . Jr'::::
est ILAflnla .. ...
lip Jt.natn ...,...,,..
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lhooo Con (Jo-t 4a lli.'l
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lRiion C o C Sc St L un la.
20ii(i Cal Claa & i:iec r. .
lomin Cent Leather 1st Sa.
'noo Cent Purine a, . .
2-lKli i-ent It K N' J .',. .
23000 Chill Copper 7 ..
02OOO Che & Ohio rv 4 Ha
i, mm. i ni r.qni in 4
loon Chi ; Mwn 3'ia
840(1(1 L' II 4 q folnt 4s
2000 do Ken 4a .. .
HOOtl do Neli 4s .
18000 C M & Ht P conv 5a.
.,,!,, lift cv
toon do sen
131 do 4a
iiimii o R I & 1
inooo uo .a
2(100 cm Itwy fls .. . . 7;
jooo corn Prod 4a 11)31 iiifl
3IUHI pel k Hud conv 4a ..I1178
notMi len A Itln ar 4, , 7KC
Rooo do rfd Sa . . . . 708
l''0 netrolt Tunnel 4W in"
23000 Dla Hecur Corp lis. . 77i
loooo )u Pont Powder Is.Iiih!
limit Krle, cv 4s Ser A .. 71 W
STn,'!!.1 !",.,". ... Sat.
.,.,,,, UB oc j M jt i)a
looo aen Elec 34 s
3W00 Hud & Man Tn 3a . .
D300 do rfd 3a .
2000 111 Steel deb 4H ..
141)00 Indtan.i Steel ft . .
11)00 IU Cent 4a 1032 ....
10000 do rfd 4 a . .
1000 III Cent U 1053 . .
2000 Inter Mel 443 ....
.. 1000 Inter U T ref fta .
23000(1 ini Mer Mar cv 4ia
3000 Jap 4K ..
4000 Kan City 80 Sa . , .
3000 Kan City Ter 11 4
2000 lx L Erie ,1a ...7.
800 Lack Steel .Is 1030
llooi) uc Sh dvb 4 IB.'S
inoo do 1831 ,
1000 Lorlltard Sa ...
1000 Mich 8t Tel ftj . ,.
inooo Minn & St. L I .
)3ono Minn St P 8 S K 4a
noou jho Kan SB ut 3a
"T 2d 4 a
& Ten 4V, s .
A P Km
150O0 Mo Kan & T t la. J
1 mm .mo Kan Tex ct 4)a
,.", jiuiil rower ia
Low. Close,
D.-iH " ll.-Mi
111 !)1
lllj'i 1024
10SS 108S
"O'i 80
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US
atlftO N V f!nnn Ilwvu 4
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Innnn -., mr t. . c. a,r
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20000 NYC
4000 N Y Chi ft Ht I. 1st 4s OS 111
1000 N Y City 34 Nov '51 01 00i
;nivn tvr 'V riu i iimu inAli i,i
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"000 N Y City 44. 1UI1.1.
iiMMi w r i; ta May 'JIT 107'i
tOOII N Y Kwy ref 4a , . 78
000 N Y Tel aen 44a 8U
linuti non imi cc -in 1st
'1IHHI rt a; w CV
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321I0O do n
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loi) nra.Hwv ft M con 4a l3V
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nor)0 JPenna 4 1H4S
8.1000 do sn U.44 .
4(11)0 Peo ft Kaj In in.
300(1 Pub Serv 'N J Aa
800(1 Ktadlnx gen 4a.
r.aiVi et l ft a V sen ct
6000(1 do ctfs vl
4(H1 ao ria CI 4
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107000 da Ker A vrl
llKIOOSt L9U 8-rn 1st 4. . T8
a-uHi pr ii car per m w -ii
niHiu oo 111 l
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lOflfi diXron S
TOOO Tnn Cop ret full paid
1 80QO Ten m Co S
14000 Third Av rtf i,.
'OWi .do ad) 8
70OTI Vol Pio ft W 4a
3WW0 U H KiiMlt ft R fla,
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,
110 los tnsvj
Ion, inut 04U
rra 83 83
74 704 704
3.14 33 334
113 1144 114
.10Ji I02H IMS
.103, 10.1 10.1
. BO 89H So
3.1 324 334
8-)t 0KI B8I
JOOiJ 100(4 004
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looo W K l 11 vv .11 w I lttt lati-t laj-u
Ivn nr.i.,l.II)2-f imif 102 Kill'
Am Smelt & lief.. , Wi HSti IH)!i 7(i
Am Smelt A II pf.,... ,113'i ll3K 1I31J mi,
Am Snlclt pf A . ..... . I),.' 00i !mj )Vi
Am riugat Kenning II '2 Il.'HS 112' tI2'(
Am Tel ft Tel , 130 130). 130M I3())j
Am Tobiceo , ,, 20.) 203 205 205
Am Woolm 7 47H 40W 47'f
Am wooIm pr 081 nsu nmt mn
Am Writing P pf 20( 20 25 2'i"
Am Zinc I, A Sm hSH hO 8i 8M
Anaconda Con M 8,"H HfiH M S5'
AtchTop&SK inoij lOOIj 10()l( IOOJ4
Alrh T A S K pf
tIKl'J IIIOJ, 10QJ, IO)Jt
All Cont Lino 1I7' 117 117 117
Lnald Ixko WIM 8!H 80 8'l! h(l'
rlil, it.( mi, ,,,, ,,t, n.
J.lll o. wiiio ,-, Hl-l in;, ;
Halt A Ohio pf 77 7fl)( 70f 7fl
Ilclhlehem Steel lit 411 444 III
nrooklvn Kin Tr 87'i 87)i Kti S7)i
Iltimi T A It It sec ... 8 8 8 8
Iluttc A Superior M ll.'i I)4!j OI!f
Cal retrolrum pf 4 IS 48 48
Canadian Pacific 170,'j I77i 170IJ 170W
Central leather . ., At'l 54'( f.4'f SIJj
Chvidlcr Motor llt' ll.'!5 1J1 114
ChM A OI1I0 00!. I!0J 05J. OJj
unuo copper 21 f
Chlno Copper CAH
Chl Oroat West pr 37'4
Chi Mil A St Paul 1005j
Chl M A St P pf lWI'l
C C C ft St 1. pf STi
c c & Sprlnjfleld
Chl A North ejlcrn .. 130
Chl R I A P,ie 2.)t
Col Fuel ft Iron I4(
Cot A Southern Xt
Col A South Ht pf V
Continental Can 100'i 100
Corn Products Hf 20H 2()j
21!i
.I7K
101
1301j
80
80
1.10
20' i"
4I.
an
21M 21M
5t r,:u
mi nin
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130)j ISOJj
H.1 80
80 80
130 I'iO
Corn PraJ ltef pf
crucible fcleel
Ciibin-.tn Sugar
Den A Illo Or pf
Distill Sec Corp'n
Domo Mines
DulSS A All pf
Krle 1
Krie 1st pf ,
Rcneral Klectrlc
(Iranby Consol
Cireenc-Cananca
Goodrlcli II V
Ore.it Northern pf
O N cfs for urn prop . . .
Oltj UO
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230 230
33
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Gulf Statci S 2d pf SO
Int Ilarv Corp'n S2H
Int Harv Corp'n pf. .
ini Jtarr ." 1
Int Con Cor v t c sh.
Int paper pf
lnp Con Cop
Int Con Corp'n pf ....
Int Nickel v t ch....
Int M M oof ttep....
IntM M pf cof dp..
Jewel Tia . .
Jewel Tea pf
Kan Cllv -luuthern....
K C Kt S A M pf. .
.10$
US IIS
. lS'f 10
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109 10) 109
118 118
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73
Kajser J A Co ODg
Kelly Sprlnc Tire.
Kennecott Copper.
Lack Steel Co
Lake Erie ft Vet.
Ijke Erie A V pf
Ihlgh Vallev . . . .
I.ee Itubber Tiro ..
Looe-V Ills 1st pf.
Lorlllard P Co
Imls ft Nah
Maxell Motors 85'i
Max .Motors 1st pf 88
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rn
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.Mai .iioiors 2d pi S9'i 00)5 fiS'J 00
Mexican Petroleum 104J. 105 103'$ 103!i"
Mo Kan A Texas 4lj A'i 4H 4)j
Miami Copper 35)5 30, 3o!i
Minn St P A S S M . ,. .12.itJ 127 120)i
M St P A SSM 1 I.... 75 74 74
Missouri Pacific U( OX 0).
MoPactrcf OJi O'i UK
Montan roer 80 87M 87
Nat niscult 121J 124 121
Nat Cloak A Suit pf.... 100 108 10S
Nat Lead Co OS I8H 18
Nat Lead Co pf 112SJ 113J, 113
Nev Con Cop 18JJ 18 IS
New York Air Brake.. ..139 140 139
N Y N II A II 03 04H 03
30H
127
74
m
87H
123JJ
10S
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IS!.
140
03 'a
New York Central, 107 107H 107f 107)
NYChlAStL 43)i 4l)i 41)5 44J5
N V lift W 2S 28 273.
Norfolk A Southern 23 27 20)5
Nor.'clk ft Western .
Norfolk A West pf .
Northern raclflc. ...
Ontario SlherMln.
Penn Itallroad
Peoria A Eastern ..
Pitts Coal Co N J .
Pressed S Car Co...
Pressed S 0 Co pf .
....i:U'5 llW'f 132'
.... 89 87i 873f
.I151J lloJi 115
7 7
584' 5SH
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20 29
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5SJ5
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29 M
48
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18
27
131
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loou loojf lootr
Pullman Co 101 10j 104!f IQlj
(JulcksIUer 23i 3), 2it 3)4
Qulcksllier pf 3K 4ii 4 4H
Ity Steel Sp Co 40)f 40)f 40)f 4tl)j'
Itay Con Cop 23l 23)5 2.l) 23)5
Keadlns 103). 1U0H iai) 105)f
. 48J 48). 48 48)5
111. 111)5 111)5 111H
. o)j 5)j SH 5)j
. 4.ri 40 45)5 10
. 32 3.DJ 32W 3J!f
. 54)5 51 5) 55
.239 210 239 239
. 99)5 995J 99 lr.))f
23M 23)5 23lf 2J)f
C8)f 0S)t CS)f
142 139 141)5
42)S 40J
I92J5 105
05)5 05i
5)g 5)5
COM Bfl)J
138)5 139
82)i 82)5
Republic Iron A S
Republic I &Spr...
St IjjuU AS F
St L Southnest pf. ..
Shut Ariz Cop . . .
Sloss-Shef S A I ....
South Porto It Bug. .
Southern Pacific
Southern Hy
Southern Ity pf 08)5
Muaeoai.er co Ill)1;
Tenn Copper 43 47
Texas Co...., 105)5 195
Third Avenue 0555 05)f
union uag ft Paper 5Jf fi).
United Cigar Store 07 06
Union Pacific. t 1383 130
Union Pacltlc pf 82)1 KIM
U b Ind Alcohol 158JS 159)f 1583J U9)
USCIPAF 23H 2l 23)f 23tf
USCIPAPpf 53U 53!( 53Jf 5.1'f
United Krull 101),' 105)5 104H 165
Un Itj-s Inv Co pf lOJt" 1BJ.' 18.' 1SJ5
U S Itubber..., 55 55Vf 55 55
U S Itubber 1st pf 109)5 100J5 10P)f 109J4
U S Steel Corp'n SOU SCJj 80)i MiM
U S Steel Corp'n pf 117)f 117). 117H UTi
USBmltAM 77)5 78)5 78'( 7SJ
u o Kipress ui
Utah Copper 83X
Utah Securities llljf
42J4
109
14!f
..... 60W
28)
133
04
Va-Caro Chem .
Va-Caro Chem pf ,
Wabash ,.,.,
Wabash pf A
Wabash pf H
Wells Cargo Eip..
West Union Tel..
West K AM 02
Western Maryland 32)f
wpeei a Lane Kris ....
.Wheel A L E 1st pf ..,
Wheel ft L E2d pf.,,,
Wllljs OrerlaniJ
Willys Overland pi
Wbconsln Central.
WooWorlh HV
Quoted dividend,
31
b3)f
19)4
4.1
109
14)4
60);
28)4
31
yj'.i
43)5
109
14 II
ib)j
1313 ltt'i
04M 04)f
02 til),
3234 32)1
5 414 4H
. 16lf 16 IB
, 0)f 0 0
.305 2S8)f 277
.110 10SH 108
. 42)5 42M 42
.138 13a iaa
31
o3tf
19)4
4.5
1C9
UH
ViH
2SV4
131)4
am
01J
3-H
4)4
10
6
!SS)f
10SH
42
13S
Frazier 6- Gz
INVESTilENT BANKEUS
Broad anti Sanrfom tat.
LKt.AI, OVKltTISEilKXTH
HJSr- MJIIH. II IlKHI-ajl tllVt-.N IHAf
-? an apiUcatlon will pa mad to the Gov.
ernor or tb I'DRiiaonwraith of Pennsylvania, on
iha SU dr of July. 1916. by Fred II 8trlor.
Ulcburd J. btclucr. l.aoe lVa4ermiin, Jowoh
nuMriiuiii and John .Immeriuuiiu, Jr., under
the. act ot Aaaembly of tho Commonwealth of
l-ennayHanfa entitled "An act to provide tor
tn lniorporatlon and regulation of certain cor
poratlona." aporovsd AprU SO 1874. andTVth.
uppUniMit thtrelo. for ttie charter of an In?
mssissn ..?. is. . "'.rwL.u.nu
.fia
.ilk nuinu.ua j,.us. ini cniraci.r ami Ahiu, -.
whkb I nuinufjeturln. plnnliiar. buylna ami
seinni yarns .ana ior tne purposes to haVu
inlpniioiM enjoy all tho rlshta twaeflt and
prlvile of the al4 act of Aaaembly SnJ lu
lUPpLemnta
JAMEa COLLIfjq
JONES.
Solicitor
MtllKej I'ublle .tee-ataal.
lllltlMl . QD.-,lIu 4
UUJ1M3 It spi:i
1'Ua Uowtm
COTTON iHARKfeT IS STEADY;
HALLY FOLLOWS EAltfrY DItOl
Attempt to Brenk Market by Big Offer
of July Meelfl With Fnilure
NBW YORK, June 11,- At the openlnp
thin mornjna; (he cotton market was com
paratively steady tn view of the disappoint
ing Liverpool cables and the Good crop
weather In the South, Quotations were S
to 5 points lower.
With the exception of liuylns of July, be
lieved to lie for Wall street account, and
sclllne: by Southern Interests, there was no
significance to the trading, although t.ler
pool was a moderate seller of October and
January. At the start an attempt was
made to break the market by a largo offer
of July, hut this option, after Btartlng at
12.61c, rose on the call to 12.64c. After
the call gnlns of 1 to 2 points wore recorded.
The market turned steadier during tho
middle of the morning. Tho enrly scllR
rind not been nctho Rnd prlcei rallied back
tn nearly first night's closing figures around
11 o'clock on locnl covering.
ll:no
open.
1.1 IS
12 111
Vi.lH
! ' ' ' J
Sates in Philadelphia
March .
July
October .
December
January
August .
Spot
Yest.
close
. 12 'JJ
.12.70
..IS SI
. .la. no
.1.1 1)7
. vj ni
. VJ 60
ij.n.-.
in oj
12.7.1
s. in.
12 07
12 SO
12 07
13 03
12 no
noon.
12.117
12.8t
r.'.nr
13.01
1:00
p. m.
'is IA
12 S.'
12 nq
13 0(1
k Am ht
1 Am IMS ....12(1
3W Hurt Hva T c C'!
1 da pr. ... fin
mi Ilrlll .' 1 . . , .
a mm Hleel , ..
10 niee Rlor . .,
(121 Dint Seo
loo (Jen Asm
1111 . do. pref , ...
.11 tns Oo N Am , .
20 Insplr t'op . .
Km Kenne Cop
,H71S Luke Sup Corp.
ii ixn r.nv ,
t'JI lli Vol ,,,.
3111 I'niinn Hit
411 Pi Halt Mfa
20 Phils. Co toVi
in no cum prer 41-4
3117 Phlln i:iec . . SB.
WI P It T tr ctfa 18i
4 Phlll TMC . . 77
2tn Headlne , 101U
37 Tonopnh tie ... 4V4
ir() Tonopih Mln .. Ml
31 Union True .... 43l5
42(1 II O t 80
10.10 i; S Steel 8ni
2.1 Wsrwlek t A 8. OS
10 IV Jer . H B... 40t
.113 Wm Crnmp . . 811
11 York Itivy .. .. 1(1
13 do pfd 37'4
IIONUS.
N'et
Hlah tiw. Cljee chM.
nse (nil. n.tu 03V4 4-li
w nn -.
30 31 0.. .i
40S 404 IIJH 4-
ais si' m'
7t Tli 7t'i ...'..'
(IH 2(1 2M;i ?
u jnll lllt '.s
!I3I .13 ( 5
111 1 iJ f J'
70S 711.
R2 82'. -H
38 T 1
401
II 14 li
20
1 IS'i
77
111
n3
no
7!l4t
84
liiod I noli
inn 4IP4
11 .
18
184
.77
HUNDRED MILLION FRENCH
LOAN TO E ARRANGED SOON
Stocks nnd Donds of Npttal Countrieg'
Corporations Will Secure It
NEW YORK. June H'.-WJth the niisslnn
loan transaction closed, active fllBTj
be made to conclude the French oan, ncgo
tlatlons for which havo been going on Tor
several weeks.
There are a number of details yet to bo
determined, bu to date there has been tie
hitch In the matter. According to Present
lilnns tho amount of the loan, It Is iimler
slood, will be $100,000,000 and It will run
for three years, benrlng ctther 6 or 6 per
cent. Interest. , .
Tho loan will be secured by stocks nnd
"i "i
IS
8.
81
10
37'i
41
8
IT
81
in
37'4
Local Bid and Asked
ToiHs- Yeslerdny
1)1,1 Aalted. Hid Asked
iiurr Rush t c ni' rn mi ,n
do pref M no ro im
Ilrlll J (J 3(1 37 3(1 38
llnldnln SO '4 tin ftn'i im
do pref 107W .. 107'4
I 'am Klr-I 8 1 81 83 81
Klec StoraKe ill (t",V4 ftl'4 ni
lien Aap .IIS 31 31 .tlij
do pref 7lf 71"i 7IS Tl'
Key Tol 1414 1.1 1U M
Hotc, n5 is n(J ir,
do pref 111, !'i us mi
l.nke Sun Corp 104 I11H 11', 111
l-eh Nn" 7lj 71! J, 7(1 J 7itS
l,rh vniley S2W s-.', 82'J 81
Ix-h Vsl Tr 22 2Ji 22 2JU
. do pref it 1.1'i 4.1 (t'
r,c?,niit., S254 r,H7' r,R r,R,
Phlll Klec 28) 2'l 21 2II
Phlln I'o 4(l'i II III 41
do .1 per cnt. pr . 38 .10 38 3'i
iln (I r-r cent. pr. . Il'i 41'. 4 ll'i 42
P It T t c 181', m, ti IM',
landing lo.-ij 10.H4 10,H in..S
.rilllpllil iH-lmoilt . I'j Ill-Ill 4'H I II III
Tnnnpnh .Mlnlnir . . d'i ni, i, 11 -, m
Union Traction 13 I.1H 42J4 Il'i
, 11 I hll 811U hhu so
I' H steel Mt'i 8S son 8n,
York Itwy 1H4 iijt. i.-.j, in
. '1 ' .. . :vt :i7J ,17(4 a,.
IVm Crnmp to R4 8.1 81 8",
11700 Am H H As . 03 '4
1110 Cltv I lam .t).'
snii'i do rv . . . 101s,
7000 do loir. re .1014
141.1 II k V Tr la BJ
.,0(1(1 Uny T"l 1st r.S. 08
nnoo I.k fun Ino fi 31
201 n l-li .S- Imp 4.i II7H
Biniii t, N con 44 ltU1,
RiMHi I, V Coal ,1s. Itijjt
2111111 110 11 ra iis.iini't
Ifinii Ph Co 'I I'4b mi.
ia(i(iii no conn
l'iiiiii I'niiti i.iee is !.
1 111111 do .is .... tutu
2IHHI ncHdlnn; un, 4s IM
llWll Un Ilwv Inv As 7(1
Clo"
ni'4
101 "J
tni4
so
118
51
lll'f 1II.1S
1; tntj
03
to J,
101'
lot1
80
08
31 J
1
1
inn;
Net
curs
t'-4
flatf"
bonds oT corporation!
Jjnich have been fcollec d y iV?
aoVeinmni ln . "7 'n
those of 8wltrlknd7 South Amerl
imericnn corporations ---"iim
y
I copper
f Stocks
I'4b mis nil', tmjf
is in-.;; im; i"jS
' ' .r!i .AN .Ji -r
HUH
11.T4
7"
101
II la4
7(1
ADVICE
We invite inquiry from persons
contemplntinp conservative in
vestment nnd shall be plad to ad
vise rcRardinR any current secu
rities, or submit a selection of
bonds made by our organization
of trained Investment Bankers.
Edward B.Smith & Co
Established 18D2 '
BANKERS
Members ttw York mid riiUadetphla
Slock Exchanges
1111 Ciimtsct Street, rittLAp.ritiA
30 1'I.VB STBEET XKW Y0I!K
Liverpool Cotton
MVIlftPOOL,, Jtilio 11 Spot cotton "to
day was quiet nt a decline of 7 points on
the basis nf S.lid for mid-upland. The
sales aggregated r.000 bales. Including 3000
bales American. Tho Imports were 19,000
boles, Including H,000 bales Amerlcnn. The
market for futures closed today at a net
decline of 9 ij to 12 points
No Wheat CnrRoes Off Enslish Coast
LONDON, June It No wheat cargoes
ncro reported off const this morning nnd
only ono was waiting orders. Other posi
tions wcro fiuelt No corn cargoes were
reported off const and none were waiting
orders Oilier positions wee rpllet Kng
llsh provincial markets were quiet
PROVINCE OF
ONTARIO
5 Gold Bonds
Due June 1, 1926
' Price 101 V4 and Interest
Circular on request
N.W.Halsey&Co.
1411 Chestnut St.,
New Tork Chicago
rtdlnilrlphln
Ban Tranclsco
have shown fine earnini-i
and are paying increa.td
dividends, but they hav
acted tlisAppointinolv ami
should be a purchase on
any material rem.in V
Wc buy and sell onlJ iJ
your interest! we have no I
favorite stocks. j
rveep iiiionncn by calling
our Mr. Knol , Lombara
tine Mt sAto lnoarl
EEcteReo.
iiANKEna nnonERs
6th & Chestnut Sts., N. E. Cor.
Jtembrra of rhlla. Stock Xh..
Direct wire to Ne Totk
Brown Brothers & Co.
Fourth and Cuxstptut Stueets
PHILADELPHIA
Commerciaf Letters of Credit
For financing purchases' of mcrchantlise in the United
Stales and abroad, issued in Dollars, Sterling and Franca.
SIIIIIHIIIIIIIIIillliilLllllllllllira
The Promising Future
of Motor Stocks
Tho prosperity belnff enjoyed by
the leadtnr automobile manuftotur
ers It not only reflected tn greater
market activity for motor tocki,
but also In actual and poulblo tn
created distributions of profltt to
stockholder!. Tins more partlcu-
a
' applies to
OrtriinJ Clialmer
Chandler Cherrolet
Sludcbakcr Saxon
Maxwell Pcerlcu
Whllo Reo
(VJ 3 Our frr Motor Stock Book, Ivl
S3 inslyztni; 60 securities, will bo Ss
r" sent upon reQuett. Atk for 19 PL, j5
S3 Including booklot expiamins; 33
S "The Twenty Payment Plan"
Q.M
IrvytmticiMyEairtttv
(Eitsbliihed 1903)
0 Exchange Place New Yi
0H!!!!!!!!!!!!!!lll!!l!!Ja
Barnett Oil & Gas Company
Authorized Capital Stock, $2,500,000. Authorized Istuc, $1,000,000,
FuIT Paid and Non-Assessable.
OFFICERS
W. E. Cl'I.l', Treslilent New Mnrtlnivltlp. IV. Vn.
Formerly Ocnernl MnnnBer, Western DHIslnn. ruro fill Company.
I.. M. STKPIIIs, Vlre-rreslihinl Uhrellnir, XV. Vn.
I'nrmrlv with the Stunilnrd Oil Company.
CHARIjES JIAIJDKN. Serretnry nnd Trrnsnrrr Wheellnc, W. Vn,
Unrrrett Ull & Unn Compnny
DIRECTORS
AKTIIUIl XV. THOMPSON, Baillmore,
Vlrp-ITPS II A u it. H,
KANI10I.PH HTAI.NAKER,
Wheeling. V. Va.
I.rw Department It A O. R. It.
XV. HOWARD HAMILTON. Baltimorv
Attorney Ht l.nw.
I M. STllrllENS.
Vlcc-Prc Uirnett Oil k Gas Co.
A. A. Will: AT,
Ins. nnd Real Instate,, W. Va.
W. WYI.IB 1IKAI,I , ..
ITe. Com-1 Hank. Wellsburir, XV. Vn.
bTUAKT W. WAI.KEIt,
JInrttniburir, XV Vn.
IT. S Olntrlct Attorney.
R. C, RlNOC50I.il. Hhephordstown, XV. Va.
Vlce-Pres West Vn Man. Assn.
xv. 1:. cui.p.
Tres Tliirnelt Oil & (Ins Co,
rilARI.KS .MAIIDI-.N.
Sec'y & Treiis. Ilnrnctt Oil & Ons Co.
GENERAL COUNSEL
JOHN A. HOWARD. Wlieellnc. W. Vn.
XV. HOWARD HAMILTON, llaltlmor. ,
Siibstnnttnltl Efficient MuimaemcMtliu UasoUne I'roduction Dividend
MARKET
TIIF.RK 1 AN ACTlVi: MAIIKHT ON TIII5 NI'.W YORK OURII FOR THIS STOCK A.ND
THE Pltlti: IIAri 1 STiAdILV Al)VANti:i) SINCi: WI! RIXOMMKNIIKD ITS I'l'RCIIAXE
AT.(M. IVVIKW r li K AllOVil hTATKMIINTS AND THr. ipWKItFUL riNANCIAJ,
iNTi-itrsTs m-iiisn Tin: company. WK kkciimmi.nd tiii: piiki-iiams of iiarkett
Oil,
AND CIAS STOCK AT THK PRIISLNT MARKIir I'KIL-L,, iiuiii
Circular No. ii on request.
. H.
,, Specialists in Oil Securities,
27 William S., New York City
$750,000
COMMERCIAL CREDIT COMPANY
BALTIMORE, MD. J
(INCORPORATED UNDER THE LAWS OF DELAWARE)
7 Per Cent. Class "B" Cumulative Preferred Stock
" . (Preferred $1,000,000 (Preferred $750,000
Authorized : Class "B" Preferred $1,000,000 Outstanding Class "B" Preferred $750,000
(Common $1,000,000 (Common $750,000-
PAR VALUE OF SHARES $25 TOTAL CAPITAL FULLY PAID IN CASH
Dividends Payable Quarterly January, April, July and October.
Registrar: THE FIDELITY TRUST C0. BALTIMORE, MD.
This Company buys open Commercial Accounts Receivable only from Responsible' Manufac
turers and Jobbers, paying about 80 of the face value thereof upon receipt of documents, the final
payment of 20 being withheld and paid only as and when each account is collected. The Company
nas been very successful from its inception, havingestablished an annual volume of over $30,000,000
withm four years, three-fourths of which comes from such firms rated $35,000 to $1,000,000.
We note a few of the salient features in regard to the operations of the Company as embodied
m a letter to us from Mr. Wm, H. Grimes, President of the Company:
r-f
1.
1. The annual net earnings since the Company
started havo been more thnn FOUR
TIMES the Preferred Stock dividend re-
quirements. uno cjompany has paid the
full Tc dividends on its Preferred Stock
since it began business in 1912. The Com
mon Stock was put upon a G dividend
basis in July, 1913, which was increased to
87c in April, 1914, and to 10 on October
1, 1914. In addition a 20 stock dividend
was paid to Common shareholders of
record April 21, 1915. The annual net
earnings on the Common Stock have
always been in excess of 25,
All of the Company's assets are liquid, cash
and commercial accounts receivable guar
anteed by manufacturers and jobbers, upon
which only 80 has been paid by the
Company. The assets, therefore, are sub
ject to very little depreciation.
The average time of payment of accounts
purchased is less than 60 days, and the
monthly collections of the Company, plus
its cash balance, have practically always
been in excess of the total amount of
Collateral Trust Notes outstanding,
Tho Class "B" Preferred Stock Is similar to
a Bank Stock, but without the usual double
liability thereon, and has the added pro
tection of the Common Stock capital of
$750,000 and axurplus of about $200,00
or an equity of oyer 126, consisting en
tirely of liquid assets.
8
4.
5. No dividend shall bo set apart or paid on tho
Common Stock until after all accrued divi
dends hove been paid on the Class "B,"
Preferred Stock-. The present annual divi
dend of 10 on the Common Stock cannot
be increased unless, after the payment of
such increase, there shall still remain a
surplus equal to not less than 60 of tho
par value of tho Common Stock outstand
ing. 6. At no time can tho amount of Class "B" Pre
ferred Stock outstanding exceed the
amount of Common Stock outstandingr nor
can the authorized issue be Increased, nor
can there be authorized a class of stock
with rights superior, prior or equal to tho
rights of said Class "B" Proferred Stock
without the consent of a majority of said
Class "B" Preferred Stock then outstand
ing. 7. The Class "B" Preferred Stock Is Cumulative
and Proferred over the Common Stock both
as to assets and as to dividends.
8. The Class "B" Preferred Stock has equal
voting powers with the Preferred and Com
mon Stock, and is fully paid and non
assessable. 9. The Class "B" Preferred Stock can be re
deemed by the Company only dt ?30 per
share (par ?25) and accrued dividend upon
60 days' notice,
v-
The management is efficient as evidenced by the success of the Company in the nast We.
recommend this Class "B" 1 Cumulative Preferred Stock as an unusually safe and attractive invest
ment to yield about 6.60, y
All legal details in connection witji the issue of both Preferred and Common Stocks have been
passed upon for the Company by Mr. Sylvan Hayei Lauchheimer, Attorney, and for ourselves bv Mi
George Weems Williams of Marbury, Gosneir Su Williams, Attorneys. r ouraeivea Dy Mr.
SUBJECT TO THE PRIOR RIGHTS Of THE STOCKHOLDERS WHICH WILL EXPIRE AT i P m
THURSDAY, JUNE 15. 1916. We taro receiving .ub.criplion. to the .bove CU.."'B" Pre f erred Stock I J s&flHn
per .h,r, (par S2S), plu. accrued dividend fro.5 April 1, 1916. The right U reserved to reject o?3l?&
icriptlona or to allot smaller amount of share than appKed for, ! " ,UD
CIRCULAR WILL BE. MAILED UPON APPLICATION '
. ROBERT GARRETT & SONS
GERMAN STREET CORNER SOUTH
BALTIMORE
i
fc-5,1-
J$ hf-
y
-
'j' , iiSdfiJ.
-pSfPS