EVENING LEDGER-PHlLADELPEtIA, WEDNESDAY, JUNE 23, 1916'
' HifrnjirnVit -T Hi Wijfafii
nArt1 jfc.
FINANCIAL NEWS
2
CONSTAT WAVERING IN MARKET TONE
THROUGHOUT SESSION IN WALL STREET
--
Uncertainty Over Mexican Situation Gives Speculative
Position Severe Teat Extensive Lines of Shorts
. Are Put Out Confident Buying of Steel
New York Stock Sales J
' High Points in Today's Financial News
Baltimore and Ohio lidilroad restored common stock tb 6 per cent, basts
Hf declaring 3 per cent, semiannual dividend. Thirty per cent, on back divi
dends on preferred declared by" Colorado Fttel cnld Iron Company. Extra
stock divtdend of 2 1-S per Cent, declared by Hush Terminal. Ten per cent,
extra dividend paid by Delaware, Lackawanna and Western Coal. May earn
ings of Norfolk and Western and Jersey Central good. Price of bar silver
higher in New York and London.
NEW YOIIK, June 28.
While there was A constant wavering 'of tlio market tono all through tho day's
trading, With advances and declines In constant sequence, tho gencrnlactlon of tho
market was regarded with satisfaction, frho uncertainty over tho Mexican sltua
tlon gnvc the speculative position a severe lest, and when rumors wero circulated
that tin unfavorable answer had been received by tho Administration from tho
" Mexican Provisional Government market operations generally took tho shapo of
clearing out speculative holdings and putting out extensive lines of shorts. -
While this selling was In progress ndvarices which hnd been mado early In tho
day wero not ouiy wiped out but wero turned Into bsses ranging from 1 to 4 points.
, (Tho rumors wero quickly dented In official sources and these denials were followed
by another vigorous upturn, with the speculative element becoming just as urgent
on tho buying side as It had previously been on tho selling side. Mexican Petroleum
was also directly Influenced by reports of flro at the company's Tamplco oil fleldi
and assertions to this effect wero In progress when the price broke from 92-i
to 88.
American Smeltlng-'was directly Influenced by the Mexican rumors, dropping
mora than 2 points, but other losses which were sustained on selling in sympathy
with tho weakness In Mexican stocks, whllo extensive at times, wero rapidly
recovered. .
There was a disposition In conservative quarters to regard tho speculative
situation as a dangerous ono for the present, and many houses wero not Inclined
to advise purchases even at low levels until the Mexican situation hus completely
-lost its market influence.
There was confident buying, however, all through the day In United States
i Steel common, and a. good demand was In evidence in Heading and the leading
copper stocks without regard to movements In other issues.
Baltimore and Ohio Restores Common to 6 Per Cent. Dividend Basis
NEW YORK, June 28. Tho Baltlmoro nnd Ohio Railroad Company has. de
clared a semiannual dividend of 3 per cent, on its common stock, thereby restor
ing that issue to the 6 per cent, annual basis that was In effect from 1907 to 1914,
Inclusive. In 1915 only 5 per cent, was disbursed, and In March of this year a
. semiannual dividend it the same rate was paid. The regular semiannual divi
dend of 2 per cent, on the preferred stock was also 'declared.''
Colorado Fuel an'd Iron Pays 30 Per Cent, on Back Dividends
I NEW YORK, Juno 28. The Colorado Fuel and Iron Company has declared
ft dividend of 30 per cent, on tho preferred stock on account of accumulated dlvi-
dends on that issue, payable August 15 to stock of record July 2fc. About 29 per
cent of tho back dividends remain to be paid on the stock.
' .
Bush Terminal to Pay Extra Dividend
NEW YORK, June 28. The Rush Terminal Company has declared a regular
temlannual dividend of 3 per cent, on the preferred stock and 2V4 per cent, on the
common stock and an extra stockdlvidend of 2. per cent, on the common stock,
all dividends payable July 15 to stockholders of record July 7. Books do not close.
Ontario and Western Resumes Dividends
NEW- YORK, June 28. The New York, Ontario and Western Railroad declared
a dividend of 1 per cent., payable July ,24 to stock of record July 7. The previous
dividend declared was 2 per centi In June, 1913. No'dlvldend was paid In 1912. but
'from 190& to 1911 an annual dividend of 2 per cent, was paid.
Extra Dividend for D., L. and W. Coal Company
NEW YORK, June 28. The Delaware, Lackawanna and Western Coal Com
pany has declared an extra dividend of 10 per cent. In addition to the regular
quarterly dividend of 2'4 per cent., payable July 15 to stock of record July 1.
GOOD DEMAND KEEPS
. CURB ISSUES STRONG
Advances Are Numerous All
Through Active xList, With
Stutz Motor Leading
NEW YORK. June 28. There was BUb
tantlal demand for stocks on the Broad
Street Curb today which prevented the
market from being unsettled even when
prices on the Stock Exchange yielded sharp
Jy under unfounded Mexican reports.
Buying orders were plentiful In many of
the usually active Issues and advances were
numerous all through the list. , Stutz Motor
was again the most prominent feature, ad
vancing 2 points to 58, and advances of
around 1 point were made In Cuba Cane
ugar, and Atlantic Gulf and West Indies,
While Driggs-Seabury rose 3 points to-130.
Kathodlon Bronze preferred responded tjo
statements of the necessity for using the
facilities of that company In cartridge
manufacture with an advance of 2 to 24 M:
The oil Btocks were Irregular, with Sin
clair Oil moving up 2 points to above 40.
Mining stocks were generally lower.
INDUSTRIALS,
New York Bond Sales
High.
. lllll'i
OSS
II1S
i:i
24
Ki4t.
in
usVt
I (HIS
iioj!
IMS
M1?4
imS
1(111
lllll
mo
wis
WIS
nid.
. 61
HIS
AM
Acms TetL
JLmtna. KxnloalveB .........
AJu Ilubber Tiro .., 04,i
Am uru sirs a
Am Marconi 8
Atlantic Gulf & W I B.1
do pre , nu
Canadian Car Co ... 03
Can Car & FVJy pret 70
Chevrolet Motors .,... ,21-
Cuba Cane tSusar 3H
Curtt Aeroplane ,.,., 45
prtpBs-Stati'jry , ,. , 127. ,
Broerson Phonograph ....., 1H4
Flemish Lynn ftS
llnskell A Barker Car ........... 37 U
HenJM Mf . . . . ..... '!
International Mercantile Marine.... 22H
BO TBI a. ........ ...,......
Kathodlon Jlrome pref
lUilm Munition ,
llanhatan Trapa
illdvaU Steel
?OlU Elevator ,,
earless Motors
oole Engineering .............
S 8 Kruno w I
Standard Motors ,,
Submarine . ..............
Trlanxle Film
United Prom Sharing. ,
unitea Motors
V 8 Light and Heat
do pre!
White
World
Motors
film .
.
HI.
.
. 8J
. S7
. 24V4
.101)
. 1"
. 7,
S9 .7
. -!H
, 1 3-16
....... D
. . . . . . . .
STANDARD OIL BTOCKS.
Jjlloow ..,,157
nlJ .! ............224
Prairie Pipe .,....,,..,,,.,.,. ..I'lO
S O ol ! California I........".'...
S O of New York ,.203
OTHER OIL STOCKS.
Coaden It Co
Chalmers Oil
Inter Petrol
Houston Oil
llldwe.t Kef
BaptHpa iter
MINING STOCK8.
ALMBM. . . f.. . . . ..
Butte Copper as Zinc
IJutta U NY
'Stasia .mwjwi. ,.,....
Tjecla Mining ......,..,,.,
Howe Sound
11m nt.ll.. . - . -
Jumbo BUtaojfon J... 78
M5KlnJey;Drrsh 60
JHltua Co of America ............ 2S
KiptMtn Mine 1.::::;;:::::: i
San Tcy ,.......,,...,,. 14
SM. Joseph Lead .....,...,,..,.. 15H
West End Con ',..".,1 83
BOND3.
Asked.
S3
ntjy
i.itJ
lts.,
AHS
r.ii
(17
60
215
nn
51
130
3
24
113
24
4
(12Vi
SO
2l
113
8
3l
7
:i a... Hiii
rn 4a. . . WIS
st 4... 7HI
JO00i Amer Jlmelt Sec Os . ,
SASiMHi Anglo-Krench fis
jciumi Amer Tel clt 4s in .
27(1(11) Armour Co 4!js !i.H4
2211(1(1 Atchison gen 4s II2S
1(10(1 do cv -In 11).",.-) 101T
2(I(HI Atlan Co Line 1st 4s. Ill
SOW) Halt & Ohio :m 112
20(100 do :, iiimS
2310(1 do 4 wiS
230OU do rv 4Hs US
fSOOd H40 P L rf 4 W V 4s. MIS
.'.(10(1 Halt & O Swn 3H.... WIS
200(1 lleth Steel rfd 3a IllOS
("loo Hrook ltap Tr r.s lliis.ioo'i
Bimki Ilrook Un Klv 1st 3a.. load
2V00II Can Oovfl 4s 11121 WIS
......... uu -.a iu.u WIT. ml
3'1II(III do 4s 1WI1... I..?.. lllllC lllll
?!!!!!! Sal..aa LEIec .. W i7
1000 Cent Leather 1st 6s.. .102 102
o!!l! 5-t".'. ll. u -N' J rc 3s. nits mil
24000 Chill Copper 7s 127!t 127
1000 Ches & Ohio 3s 1114 104
7300(1 Chi H 4 Q Joint 4s. . IIH
nuuu unt li & (J ill a
i-uiiu uni ii u Iowa
300(1 (.'hi Inrl X' 'at
10000 Chi Mil 4, SI l i..n'j 111
14000 do ronv 3s ion
.nuiMi an cv lis .
3701)0 Chi It I & 1 5;
7000 ln Pt nnn !
loooo Chi llwy 3s ... i .... si7
1000 Col Midland ct 4s ... ll
2000 Col & South 1st 4s... in
1000 do 4Us ill
3000 Cuba Am Suenr (la. .1(V'4
4000(1 Del 4 Hud rfd 4s uS'I
3000 Den 4 Itlo Or rfd fi. iliiji
limn Detroit Kdlson 4s -40 l(il(I
J000 Detroit United 44s.. hoj
3500(1 DIs Secur Corn 3s... 7(1
400O Krle'conv 4s Her D. . 72
18000 Krle Pa 'col 4s 81)
1000 den Elec 314a saw
Bono Indiana Steel 3s ....102
2000 Inierb Met 4tta .... 73'i
5U0O lnterb It T ref 3s ... 08S
23000 int M 3t cMh, 103?
ftlioo Japanese 4Hs .. '.. 83
1000 l.k 8h deb 4a 1028 ,. IMS
11(100 Lk Sh deb 4s 1031 .. 01 '
100(1 Lis- 4 M T 3s ...... Kllfi
iiiun ijirlllam 3a
iiiim 3iex iJet
3000 Mex Pet
nOOO 3IO Km K, T JL-. ii
0000 do 3s ....;;. 70
2000 Mont Power 3s 118
2000 Nat Enam 4 StD Ra'. 07
SN.,",A"' um
"'""' M M7SB M
niioo do con 4s ..... na
01H
2 (i
3 83 H3
4S IHS 04S
IS 04H lU'J
if. mis ion.
Illl'i llllVi 101'i
Co Us Ser A. 1074 107H 1074
Co s Ser C.107S 107S 107i
1(10(1 ?J Y C! 3U.. If., fn.i atZ
1iR!;i! N y L'y " lD3d.reir. iioj?
us
12
9-
s
5
i7
61
I
130
227
SIS
240
323
208
S3tt
8
10H
14
63
124
10
i
1..
80
SO
33
Id
?8
11
81
Ceiro da Pbjico 6a ,.....".,.,108
Ch 4 Ohio Ba ..;...,. 04J4
Vtdval is gr
wa oii ..100
Jtui.:
112'
044
sat!
loo i,;
RATES FOIl MONEY
Hlkdelpala
Jgatoa . .. ..
CMll
a
S-rkSi
Time.
Baaii
with cor-
KlOtKAKINGS
Sffi tM,"islri "
,4Sl..W .020.iWt 1S,3.1.
m.t;,73 1
R'Ha-'m
411
.--3J.I
.V31.T
11 Ut
m$m
la New
4. t-
3000
IUMI0
(1000
20(10
10(10
4000
2000
do 4s 1037
do 4s 10.18 ...".,
do 4s 1D.10 .;"'!,
do 4s 1031 Teg,,..,
do 44a 10(13,"
do 44s 10(13 ....I
do 44a Nov 1057.
100
100
Kill
Oil 4
11X14
10(1
10.L,
if a
43
UN
IIS
n7
S 83 S
8sW
UOVi
ion
ion
loo
004
loin.
a, 131
. ,. 024
...MIS
l!!!ili K S G.. p 4s
B300H N Y Itwy adl Sa!;
200(1 N V Til?'jlfl'
48SfflNo.w" &!
jooou do cv 4s Vo-;j)g
8000. Nor Pao prior ?s
jww do gen 3s .. ..... B3
1000 Ore Short Line ret 4s "
80(10 Paclfto Te fli .......loo
8000 Penna 4s 'lOI3, .., " 08T4
00(1 do 4s 1B48 . "I 03J
pOOOTleadlng gen 4s ..... OSS
oooo Kep uBii ...!;:: 078
8000 Itlo O 4 W fit 4s .... 7011
1000 Rury Stl Spgs 3s lOStl 0(14
JJOO" St L S r- rfd ct sti: 73),
14000 do gen ct sta 4s no
oww uo gen ct ii . . . .
20000 duiivi :
11000 do Ser A w I ...
7000 do in v i .....::
10000 Bt L 4 Swn 1st 4s. .
10O0 St P U 4 M 44s .
3000 A 4 A P 1st 4s..
,2000 south Pc 4s
17000 da cv 4s ..
17000 da cv ret I p 3s..
130(10 do rfd 4a
7000 South Pao Term 3s.
13000 South Rwy gen 4s ..
1B00O do con 3s
13A0 Tenn C ret f p ...
20OO Term Assn St L Ss.
3000 Texas 4 Pac 1st Ss
20000 Texas Co cv Ss. . . .
2000 Tol Peo 4 W
2000 LP 8 Govt 4a rer .
1000 da Qovt fis inn
S400O U 8 Steel (! ....10.1
lUOOO Union Pac 1st 4a 07M,
SOOfl Union Pac rfd 4 80 2
2000(1 Un Rwya 8 V 4s .... S3
4000 Va Car Chm 1st Ss.. tiss
10000 do 0 ioo3
170O0VaRwyBs 08
280O0 Wab.p T 1st ct 4s I p. S3U
.'" i.mjia in li
KHtS
10114 1004
81 H4
1124 1124
374 B7IJ
1)8 OS
131 131
024 024
131 lair.
if-'
634
02
10O
08H
OOS
11.1 S
OTS
2(HK West Union 3s . .
H.14
02
100
08
80S
MS
87 S
0H4 WI4
734 73
no on
. 72 72 72
. 84S 8I 84S
. 7U 70U 70(1
. 54 83? 34
77 77 77
.102H 102H 102H
. AT , 87 B7
. 834 83H 834
525 874 874
.1034 103S 103S
. 804 8S SOS
, 8 83S 8SS
70S 70i 70S
.101 s ion! ion;
.1004 1004 1004
y$ 'ma
:04U 10H V$
Tlflf! 11 A .nir
.r f.UM
100 100
101 S 104
874 074
894 804
40S 324
B8H OSS
loos io4
87 88
33 hi. 33 11
Joih
1"tl
J014 loiS
Sugar Futures Active
NEW YORK. Juna 28. Sugar futures
opened ay. w"b trading active on heavy
selling of September by Cuban interests
whleb sent the entire list off. the opening
bids howfng decline. of 2 to S points. Sales
on the call yycre 320A tonm.
Il Granulated Sugar Unchanged
KEW'YOQK. Jun SS, Fine granulated
wa 4tnoh4ijfe4 U t.5c and 1.15c today.
Sl.It al ot spot Cub raw was It
Mti ttwa a thiTSjiaiiiiyr Tuegday
Ijist close. High. I)W. Close.
MHH 1 Oolci M 8H 8 8 8
AllH-Chalmcrs Mf 23)1 23 22U 22U
Allls-0 Mf r,f 78)i 1HM 77H 77H
Ahincct8usar.....i.... 80, 80)4 84H t&U
AmCan 51$J r2 fii 6W
Am Car A Fdy fiflU 65'i MM MM
Am Coal Products 112 142 142 Ifi
Am Cotton Oil 63U MM fill, C3H
Amllldaft Lcathct..... 10 1DH 10), 10H
Am Hide A Lpf ........ 62J, MM MM MM
Am Linseed 10U lfl'f 18t ID
Am Unseed pf., ..4I( -Jltf AM 44f
Am Ixicomotlvo ,,. 00W 07J4 doM 07)
AmSmclt&Itcf 1)2). 02 DOJf t)U
AmTclATcl 130 l.TJ)( 120J, 130
" loiucco ...201K 201 201 201
Am Tob pf new.,., ioo'
Am Woolen. , .M
Am Woolen rf HO'f
Am Wrltlnir I pf 22H
Amlncl. ASm ADM
Am Z Ii A S pf 03
Anaconda Cop M 7l)'(
Atsoclated Oil.,, 0S)j
AtchTop AS V 1U1
AtchT AS K pf 101
Hald I)co Wks 7714
Halt ft Ohio..,,.. ,.. 88,
Hclhlehcm Steel 442
urown snoo. .. , a
100), 100H 100)4
45
05
22,
4l!
00
80M
0714
45
t)4
22
30)
05
7!IJ
07)4
101)4 101
101
,BM
88U
442
51
initio A Superior 00H 07
Cal I'etroleum lol-i 10)4
(.anauian 1'acilic 17(4 I7o
Central Leather 50 iMi
icnir.ii Leather pr 112
Ches a Ohio GOU
Chill Copper..., 20U 21K
Chlno Copper 1814 4M
Chlcaco Great West 12 12!f
Chi (ircat West pf :v,M 30
Chi Mil A st Paul nms imif
v.iii hi bi 1" pr i3o
C C U A St L pf 82W 81
Ch AN Wpf 172'4 175
cm k I A Pac 22)4 22!f
nueii,.i'ca s co 72
Col Fuel A Iron 41
Col A Southern 32)4
Col A South 1st pf 67)4
Continental Can 00
101
70
S7)f
410
M
00
10
175
50' i
45
04
22
40
00
81)4
07)4
104
101
77X
87Jf
440
61
OflU
10
175
60tf
MEXICAN SITUATION
AFFECTS MARKET;
AMERICANS DULL
11 s is- 1 i
Noted London Economist
Says Psychological' Change
Is Evident in Germany
I Sales in Philadelphia ,
MEAT FAMINE SERIOUS
1124 112)4 112)4
U1H 00)4 00)4
20) 20!
40lf ,4I)!4
12!f 12X
30 30
1)0 tlO'f
130)4- 130'f 130)
81
73
42)1
33
57)4
00
03
17
22U
73
41)4
32)4
57)4
00
fit
1.
8i
75
73
I1M
32)4
67)4
1)0
Ct
Continental Ins fis
Consolidated Ons 133)4 133U 133)i 133!f
10m Products lief 144 1 1"4 14)i 1454
Corn Prod Hef pf h0)4 00 8014 b!i)i
Crucl))le Steel 75!f 705f 74 75U
Dear A Co pr 00)1 W)M OHM 1)0)1
Den A Itlo Or pf 29)4 29 29 "9
Distill Sec Corp'n 434 435S 43 43,
Krle.. 35U 35)4 MM :fl
red Mln ASm pf....... 35V, 33 31 30
Gen Chemical 300 3'JO 300 300
General Electric 10". 105 in.-, nir.
General Motors pf 112)4 112)4 112)4 112)4
Granbv Consol H.'
Greene-Cananea 37
Goodrich U V
Groit Northern pf
CJ N cfs for oro prop.
Int Con Corv t c sh....
Int Con Corp'n pf
Int Paper pr
Insp Con Cop
Int Nickel v t cfs
Int M M c ol tlep
Int M M pf cor (lop....
Jewel Tea
Ken City Southern
Kelly Sprlnz Tiro
Kennecolt Copper
Laclede Gas
Lake Erie A West
Lako Erie A W pr
LclilBh alley 77
Lee Ilubber Tiro 4S
Mackay Cos pf 08
85
3014
73'f 74
120)f 121
31
I7U
7IU
57)4
40
43)
23
87' i
70
25'i
70'i
47)4
10H5
19
42)4
31)4
17!4
74) f
57' i
40 'i
45f
23t
80)i
80
2514
71)4
I7'S
85 85
38 38U
73'S 74
120'f 120'i
33U :mi
Maxwell Motors.
Max Motors 1st pr
Max Motors 2d pr...
Mexican Petroleum....
Mex Petroleum pt
Mo Kan A Texas
Miami Copper
Montana Tower pf . .. .
Nat Cloak A Suit
Nat Lead Co
Nev Con Cop
N V N II A H
New York Central
X Y C A St L 2d pf .
N Y O A West
81)4
. 60
. 124
. 00)4
. 414
. :uh
.115
. 75
. a-.
. 10'f
(ll!4
17H
735 j
67)4
40H
4M
i254
87i
78U
25
71
17
105)4 105U 105M
1UJ5 VJH 10)4
42
77
47)4
0734
71)
83)4
55
S854
S0)4
4! 4
MM
115)4
42
M
77H
4S
0734
M)4
85)f
55)1
02'4
00
4'f
31'i
115)i
75
05
lfl
Ol'l
1034 103)4 103
07 00' i MM
:S!4 27J(
17'4
74!1
67?(
49)4
4-iM
1254
88)1
7Sti
25
71'4
I7J4
4:
77
47)4
0734
804
.854
55
01
80)4
4)4
34)1
115)4
Ol'l
111)4
UI!1
Norfolk A Western 131W 131K 13li'i
isorincrn I'aciuc 11:114 nmj I12'l 112)1
0411
10)4
ODi
1IM
GO'l
27),
130'1
By FRANCIS W. HIRST
Special Coble to Kvenino ledger
LONDON, Juno 28. Slock ExchnnRO
markets are Idle, with Americans dull, In
sympathy with the Mexican situation and
the probability that jou will have'to rnlso
larso sums for war material and expedi
tionary preparations. Consols are firm on
nn nil-round Improvement In tho war map.
Chancellor Hollweg's semiofficial repudia
tion of nny program' of territorial conquests
,nnd his present reliance on the support of
Socialists nnd Clericals appear highly
significant of tho changing psychology of
tho German people. Tho political parties
which opposo Prussian militarism and
Junker ascendancy have seemingly gained
predominance.
The Internal difficulties of Industrial Ger
many are accumulating beforo harvest.
The meat famine nnd scarcity of raw mato
rials refuse to yield to bureaucratic or
ganization or chemical Invention.
One absurdity of the tariff reform theory
that Germany will dump heavily after tho
war soon will be exposed.
The political crisis here may end In a
return to party government. That Union
ists should ralso objections over Homo
llule Is ns natural ns that the Independent
section of the Liberal party should repudi
ate conscription nnd protection. free
traders soon will take action over tho
resolutions of the Paris economic confer
ence, but' Premier Asmilth has declared
they do not bind either the Government or
tho Houso of Commons.
. '"?h.
100 Acme Tea f e.. fli!
1M , .to pref 07.,
loo Am Loco,. ita
.6 Ilrll. ,J. O 8i4
Uu Cal 1st pref. .. r.35.
8.T Clrctrlc Btorage, 02 4
1 1 mi Krle 84
, a Ky Sec so,
10(1 l.nlce Bis.) Corp 10ji
II I.ehlh Nav .... 7 J
.11 Lehigh Vnlley 1 77
lUO Ih Val Tran t 42.
3,1.1 I'enna U II A7K
III 1'hlla Co nil's
a tin f-nm nrf.. 4(1
Iff l'fllia Hie
ss r it T tr
20 I'hlla Tra
til ILariln.
lun.t Ton Del ...... 4
no Ti,n Min .. (1;
43 U (I I .,,,,.,, 88
14 Un Cos N J ,1,224
3320 U R steel HI
4T0 Cramp & sons. H2
I10NDS.
$5000 Clly 4s 10.19 rn.loiV
1000 rni ill (Ms ns.lo.iH
if.i
tow, CtesA cli'M.
-'.
-M
Dl
B.1
S.rf
20
M
BOH
8.1
mi; u
02U iji
20.. 2
J7 H
4sf
8854 wj
40. 4(1 . Vt
e..,.. i' vrr' -"j?
Ctrs.,, 1S!4 1PJ '27 LL'U
J4 SB" n?7 1 .
4 MSi ?!
80 01
?4
2000 iiitrrsn i;ie 0s..i02
.ouuif jntersin (tys 48. twft
18000 Key Tel lst.Ds. 118.,
mi"
mono I.h Nv eii (tl,
liKioii iA-n VAicen is 111
IOIIU
1000
do rs 4H '03
00 rons im
fiOOO I C6" Ken 44s.iniii
fitinn nhllA t?i.A Am R?il
.10l
Net
101'i 1014 1.,
1 ().- IMS U
81 'IS :::::
s IIIH IHH 1111.
1.100)4 100.. J"",
.110H II
II014 110J4 .....
ou n(4 4-lM
Local Bid and Asked
3000 riilld Blee
.ovip 110 tts ..,..iuirt
7000 ftcafllnir sen 4s IMH
1)000 Un llwy Inv Bs Oi)M
llalittvln 77
Hurt & gusn. to ni
Today's
rild. Asked.
do nrf
Drill .1(1
Cnmhrln Steel ..
lllectrlc Htoraire
Ocneral Asphalt
(ill
9.1
i
02
33
704
14'i
FRANCIS W. HIUST QUITS
LONDON ECONOMIST OFFICE
LONDON', June 28. Francis W. Hirst
nnnounces his retirement from tho editor
ship, of the Kconomlst to edit n more popu
lar periodical, which, he says, will give him
"freer fcope nnd a larger political Meld."
"1 am glnd to leave the Kconomlst at tho
highest point which Its circulation has over
attained," said Mr, Hirst.
Ills retirement will probably not becomo
effective before August.
"
Francis W. Hirst Is the special financial
correspondent of tho Evening Ledoeii In
London.
Pacific Mall.
Tenn Kallroad
Philadelphia Co
Pitts Coal Co V J
Pitts C C & St L
Pressed S Car Co
fly Steel Sp Co
Iijf -teel Sp Copf
Itay Coif Copper
Headlne
Itepuhlle Iron AS
Itepubllc I A S pf
Seaboard Air Line
Sears, Hoo & Co pf
St Louis &S V
St I. & S K 2d pf
Shat Ariz Cop
Slcss-Shef S & 1
South Porto It Suj.
2011
57,'f
. .-in'!
. L'O
. 85
. lO'j
. 42'f
.. 00!.
. 21
. II5X
. 13
.107
1.-.U
21
fi75
10
20
8.)
40),
43
014
21S
1)0' 1
41)i
107
.13
.120'! 12)
. AM r,
GM 01
. 2S'i 28)1
. 47 47) i
.232 23')
21
57
.WS
20
80
41H
40.
00M
21X
MM
43'i
107
lo
12.J
o
O'i
2hi
17
21
fi'Jl
40
20
80
40
41
OOJi
21)4
o:i
13)1
107
15.
12J
S
28)1
I
230 230
Southern Pacific i)CH DOW !)0l$ OOJS
Southern Pac tc 120)5 110H HOW 116M
Southern Hy 22 221 22H 22)
Standard .Mllline pf OOH 88 KS 88
Sludebaker Co ..130J-, 137J1 135H 130'$
Tenn Copper 31 31 34 31
Texas Co" 182 1S3 lSOlf lhOJl
Texas Pacific 12'1 12)1 12'1 12'1
Third Avenue 07 00 00 GO
Twin City It T 07 00)1 00)1 OO'l
Union. Pacific umi 13GJ, 135)1 13G),
If S Ind Alcohol 130)1 139'i 135i 137
United Krult 150'! 157 150)1 157
United Itys Inr Co 8)5 11 9J, it's
United Itys Inv Co pf . . . lS)j 207-j 18'i 20 j
U S Huhber 53!, ,-3i 5211 52)1
U S Rubber 1st pf
Ui Steel Corp'n....
U S Steel Corp'n pf.
U S Express
USSm It & M
Utah Copper
Va-Caro Chcrn
Va Iron. Coal & O . .
Wabash
Wabash pf A
Wabash pf H
Western Maryland ..
West Union Tel
West E&M
Wheel & Lako Krle. .
Wheel & V K 1st pf.
Wheel & L C 2d pf. .
Willys Overland
Wisconsin Central,.,,
Woolnojih fW
lOSi 108)1 10S)i 10i)l
. S.i N4JS H3!f r4)i
.my. 117)1 ii7)i ii7)i
31 30H 301) ;jO)j
05)1 U0)j
70)1 77
30J 39,
50 4S
13)1 13),
47H 47H
20) i 20)5
28 2SJ1
113!) 01
57J1 58)5
1M 5
14 10)1
0)1 7
71H 7331
30)5 ,41)1
05)5
70)5
30H
40
133(
47)1
20)5
2s)i
2)1
68
4)5
15
Oil
7IH
40
FOREIGN EXCHANGE
NEW YORK. .Tune 28. The feature of
the foreign exchange market today was tho
continued weakness In relchsmarks, being
the lowest on tho present move, having
broken through 73. Tho sterling exchange
market was dull but steady, while thero was
noticed a'degree of firmness In Scandinavian
exchange. Quotations:
Demand sterling, 4.7591', cables 4.7G7-1G;
franc checks fi.DI, cables 5.90 : relches
marks checks 72 (later 73 U). cables 72 '.
lire checks K.38Vj, cables 1.379, I Swiss
checks fi.SSVj, cables n.27"4 '. Vienna checks
12.(15, cables 12.70; pesetas checks 20.15,
cables 20.25 ; kroner checks 29.30, cables
29.50 ; guilder checks 41 7-16, cables 41 9-lG ;
rubles checks 30.00, cables 30.65. Sixty-
day sterling b'lls were nominally quoted at
4.72 and 90-day bills nt 4.70.
In exchange circles today It was said that
tho market for sterling Is an artificial one
nnd would touch considerably lower levels
unless there are further Imports of gold or
sales of securities, especially as exports of
merchandise for May wero tho largest In
the history of the country, being In excess
of 472,000,000, while tho balance of trade
in our favor Is $243,000,000.
Obviously, It Is argued, to meet this heavy
obligation It will be necessary for the for
eign countries to furnish additional gold.
sell more securities or negotiate a fresh loan
v.ilhin the next few months.
During tho entire morning and up to the
early afternoon rates remained virtually un
changed. Demand sterling was quoted at
around 4.76 11-1004.75)4, and cables.
4.70 7-10. Franc checks were 5.91 and
cables. 5.90. flelchsmarks checks were
73 i and cables, 73. Only a comparatively
smnii volume or nusiness has been trans
acted in marks today, the market being
conOned within narrow limits. In exchange
circles It was characterized as a one-man's
market.
lo nror
Key tei
do t c
do pref
T.al.A f4,,n r.m
I.eh Nnv Tfi't
I.eh Vnl , 77.,
do pref 41
Pfnnsylvsnln r.7Ji
PMIn. niectrlc 8$
Plilla Co 404
do n per cent. pref... 3S
do ll per cent. pref... 40
Phils RTlc 18ft
Headlne M
Ton Hflmont 4
Ton Mlnlns ill
Union True 4J
U Q I !
U H Btoel 84U
York ltwy 1J
-do pref 37
Cramp to M
7
B.I -
ns
37
(l.'l
34
1
11
nn
!
m
42
B7J4
2"
40H
an
4014
111
D.'.W
4 'A
on
Si
Yesterday's
Illd. Asked.
77)4 78
r,l r..i
80 ns
an 37
HlTv 8.1
(12 (1.1
.12 ni
70V4 71 4
14 144
14 14'4
us nn
1(1)4 10J4
7I 7.1.4
77'J 77H
4ti 42
2RM 28t
an 40
as .111
40 4054
ih ts
ii.i imu
4 4 i-ln
11 fl)i
42W 43,
SHW 88
83 H 81
IB IBI4
a7 37(4
82 81
Spot Wheat Quiet in Liverpool
LIVERPOOL, Juno 28. Spot wheat was
quiet nnd unchanged today, with blue Btem
quoted at 10s. lid. : .No. 2 hard winter,
9s. 6d. ; No, 2 red winter, 9s. "d. ; No. 1
Northern Manitoba, 9s. ll&d. ; No. 2 North
ern Mnnltoba, 9s. 8d. Corn was firm and
Id. higher, with American mixed quoted nt
9s. Gd., and plato at 10s. Flour was 39s.
IIIIIIIIIIIII!IIIIIIIIISIIIIIIII1I;
g Millions in Profits g
boing to j
Motor Stockholders j
The enormous earnings bnlnc; -mzmx
Sited tip by tho country's automo-
He manufacturers hays fully -r
justified tho increased market 4&I
valuation of motor stocks, L-
( Moreover, tho Increasing; f rowth ss
of the Industry should mean a still SS
greater enhancement of motor- nri
stock values, logically necessitated 1!
by tho continued ozpanslon of the SS
business, '
q The following are soma of the SS
automobllo manufacturers who ire S3
participating In the present vc -
paralleled prosperity! r-r
LJ
lrf t Our free Motor Handbook, ana- Al
m lyzing 60 securities, will be sent ii
' upon request. Ask for SO-FL, 'o-
- ; eluding booklet oxplainlng
E "The Twenty Payment Plan" Sri
1 EOTW(3 1
VJ IrvyrvtmeMyecuritlc J
(Established 1003) 5
SS 40 Exchange Place New York 3
rliii!iiiiisiiiiiiiiiii0!iiiiiiiinI
Overland Chalmers
Chandler Chevrolet
Sludebaker Saxon
Maxwell Pecr'est
Hupp Reo
NEW YORK COFFEE MARKET
NEW YORK. June 28. The market for
coffee futures opened easy this morning
with first prices showing declines of 3 to 5
points. Trading was quiet.
CG
77
30J
49
UM
47H
'MM
2SH
121,
nn
AM
1(1!,
72N
-JOlj
VMM MM VMM MM
The United Oas nnd Electric Corporation
during the last 12 months had gross earn
ings of 114,231, 823, an Increase of Jl, 01,264
over the preceding year. Net earnings
gained J.789,386 to $0,321,746,
Preferred Stock
Yielding S on Investment;
with bonus of 100 Common
Stock on subscriptions
received before close of books
JULY 3rd, 1916
Barntnw ihoulcl Justify bandaomo
olvlaencU oa common stock.
Price $5 Per Share
Circular it ailed oit R3u(
THE IRON PRODUCTS CO,
JIfrs. of Bar Iron and Speciallles.
111! REAL ESTATE TRUST BLDQ.
Call Fllbart 4659-4857.
Today's
openlne.
June
July 7.63OT.70
Ausust-
September 7. SO 7. 82
October '7.85
November ..7.00
December ..... ....
January 'S.Ot!
1-Vbruary ,
llnreli 8 1008.14
Anrll
May 8.108.20
DIJ.
Yesterday's
close,
7.(l7f7.(l!
7.(17 & 7. (Ill
7.7IIW7.7H
7.b.'iBi7.87
7.1111
7.1)507.0(1
7 IIDMR.IKI
S.II48.0U
8. O'I H. 11
S.t48.1.1
8. 1U 08.10
8.21 8. -JU
NEW YORK BUTTER AND EGGS
NEW YOnK June 28. nUTTER Tone a
little steadier on top grades Other qualities
Plenty and easier. Itecelpts, 10,020. Quotations
unchanged.
Eaas About steady, though advances are
chccklnz buylne. Receipts, 17.093, Yesterday's
iluumiiuiM, nm uitvi.atisu.
Tax Free Investments
Our current Investment List
describes, with other desirablo
securities, Buffalo & Susque
hanna Railroad Corporation First
Mortrrage 4 Bonds, which at
the present prico yield 5,
freo of Pennsylvania tax. - Tho
circular will bo furnished on re
quest. Edward B.Smith & Co
ESTlBLlSIltO 1803.
BANKERS
licmber Ktv York and Philadelphia
Stock Eichangta
1411 CnrsTNDT 8mn, PuiUDtxrnu
80 Pins STirn Ncw yon;
I '
MERCHANTS UNION TRUST GO.
715-717-719 CHESTNUT STREET
Bond Department '
ALTOONA 1.00AN VALLEY First Mortrage 4H. Interest
IStli Feb. and IStli Aug;. Due 1033,
Karulngs largely In excess of Interest charges and bond more
over guaranteed for principal and Interest by The American
Hallways Co. a subsidiary corporation of the , National
I ropertles Co. entitling the security to very favorable credit
r i
rating;.
Free of Pennsylvania
Income tax.
atate- tax and of Normal Federal
RlAZIER6'(jbi
INVESTMENT BANKERS
Broad & Ssiuom Streets
uiuutTouv or ACCOUNXAKTS '
Csrltfleil t'ulillc Areouatuat
....Hf.P'Cfi Si- SHOWN i m.
BURKf . SPiSAiaiAK
Til L3U.-IM
$40,000 of these bonds offered at
89 and interest
yielding over 5y2
Your attention is called to the ",'
TRUST DEPARTMENT ' .
which is unexcelled in its equipment, i ?
I
ti
Brown Brothers & Col
Fourth and CifzsTNvr Stkeetb
PHILADELPHIA
Travelers' Letters of Credit
Issued In Dollars for use in the United States, Canada, West
Indies and other countries in North and South America.
Under the terms of issue of our Letters of Gredjt, travelers
can arrange for availing Qf income' during absence instead
fit fayjiijj h? full amount when leaving.
Drtrm a tw ipt r.w nit1 nnT.r. Txtfrtz-v tt .
ttttt t Trvfivr) r a rnTr, - 1 "'. J WJlTi
VV1JUJJ xvJJJXJi. J-vrxxjo JLUJKf iVlfJlBY
Interest and Dividend Payments on First of Nfv,.j
Aids Trading Quiet on Philadelphia EManJSH
With Irregular Price Movements M
In the face of tlie present stendy flow
of gold froirf Kurope ns well as Cftntttla
bankers predict that the much- talked of
high Interest rates n round Jilly i. tho data
on which heavy Interest nnd dividend pty
ments have to he Inndc, ns well ns tho
Income tax date, will not be established.
During the last few weeks bnnkers have
predicted that money wotild become tight
nenr the close of the month, but the Indica
tions now are that there will he no ap
preciable change In rates In the Immediate
future.
As n matter of fact, In high banking cir
cles the belief Is entertained that rntes will
work to lower levels Immediately following
the first of tho month. During the last few
days the Keder. I Reserve banks have pur
chased n large amount of acceptance bills
from the banks, which has had the effect
of releasing the amount of money Involved
for use by the Institutions for such pur
poses ns may be required by them.
It Is predicted that further substantial
nmbunti of acceptnnco bills will bo nb
sorbed by the KedeVal Reserve Institutions
In the not distant future. Rankers point
out that acquisition of these bills by the
Federal Reserve banks Is of as much Im
portance us would be the receipt of nn
equal nmount of gold from Europe.
Business on the Philadelphia Stock Ex
change throughout the session today was on
n very small scale, with Irregular price
movements. United sun,. J.. . '
"as tl-o most nctlv. lMu. "?
was M BnUr l0wer In symhlS
Boner tone In the New Y'otk Z'. 8JtM
Ing the morning. Acme TeaZ ,2S
cllned rt point, ns cnmJr (?m?
nrvlo. .-.. u... """"'"tthtKn
. uo o..,c, uu, ii recovered ikT!
the afternoon, Electrl m, ."'.Sen
fie of tho strongest local Issue. jS
4 wit wrmo mo wcakes' wan r-. ,371
declined SVI. Kent .. s.S'Wl
I., t- .1 ---""lllCl PAa.
declined two points in tWS mofgl
Send for our New
"Bonds Favnt-fsvl
by JBanks in 1915
Thetr Rtlatla. vi.i, .
. and Market Stability ' '
Diacuasing the various factJ
which hnve influenced tk.1
recent investments of batiW
N.W. Halsey&cl
1481 Chestnut Si.. li.77:yV4
Nsw York Chicmb b.. ifi"
nc
.
ZMI
Elbert Hubbard Said
The Reward for doing business right is more
business.
Resource's from Comptroller Statements:
1910
1911
'1912
1913
1914
1915
1916
$23,455,0
25,995,000:
27,000,000
,27,100,000
29,200,000
29,600,000
4O,O0O,00"0
V
active caretul guidance irom these Directors who'
- j
direct : . fT;
JOHN" J. MacDONAI.,D
WILSONV CATHERWOOD
WM.-L SUPPLEE
' JOHN S. WEN'TZ '
THOS. J. JEFFRIES
JOSEPH H. PARVIN
WM. H. FOLWELlIv
WALTER A. BAILEY
CIIAS. S. CALWJ3LL
FRANK H. MOSS
OEO. W B. RODERTS
MERRITT N. WILLITS.
LOUIS R. PAGE
J. E. BAUM
DAVID C. BRADLEY
PAUL THOMPSON
I
JR. ,
n
fl
Officers:.
CHAS. S. CALWELL,
President.
M. N. WILLITS, JR.,
Vice-President.
THOS. J. JEFFRIES,
Vice-President.
I
NEWTON W. CORSON.
Cashier. '
ALLEN M. MATTHEWS,';
Ass't Cashier. ,,.-;
ALBERT M, HOGq,
Ass't' Cashier.
ii.-i
Com Exchange
National Bank
Philadelphia
Chestnut Street at Second
A
I
July Investments
Canadian Government and Municipal Bonds
combine the essential considerations of a
sound investmmt safety, substantial
interest return and negotiability
City of Toronto 5s '
Province of Nova Scotia 5s
, Province of Quebec 5s
Province of Saskatchewan 5Hs
City of Edmonton Gs
City of Saskutoon 5s
v Municipality of Burnaby 6s
Principal and interest of the above bonds
1 payable in New York
To yield 4.85 to 6
Wtitt for special descriptint circulars.
Wood, Gundy & Company
14 Willi Street
Toronto Now York London
1 """
L
F
i-i
Has This Thought Ever
Occurred- to You ?
' What would become of my estate if I
should die without making a will? A will
merely directs how you would like to nave
your property divided. Every one should
want to say how the accumulations of a life
time are to be disposed of, Have your at
torney draw up your will appointing us as y
Executor, or send for bur pamphlet, "HA vis
YOU MADE 4 WILL?"
The Commonwealth
Title Insurance and Trust Company
CHESTNUT AND TWELFTH STf, PHILADELPHIA
'f
.,
!
,
ii
f
..JSl1 .
"-.' -.:u.t
. -iVjtlL -.- .- SSSt'T'a
-""StjZtLZ. i