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II ' FINANCIAL news,
" - . .- ' " I -,. ! I ... I -INI
EVENING LEDGER-PHILADELPHIA, WEDNESDAY, JULY 19, 1916.
' SJQCKS HOLD ALL, OR GREAT PART,
p, OP GAINS SCORED IN DAY'S TRADING
Better Feeling Prevails in Commission House Comment
Ife and Easier Monetary Situation Influences a Revival
P of Confidence Alcohol Goes Up Eight Points
High Points in Today's Financial News
titxl six months ivill see $100,000,000 in goltt brought into United States
for account of Uritish Government, Hudson Da-j Company declared a CivU
dtnd of SO per cent., the first since the start of the war. Gold rrocrvs of
Imperial Dank of Germany largtr Price of bar silver lower in A'ctu York
and London.
. NEW YOUK, July 10.
Although the volumo of business was only moderato today, tlio movements
Wero distinguished In that for tiio first tlmo on tho rlso most of tha list held nil
or a greater part of tlje gains scored. A better fcclliiff prevailed In response to
commission house comment that stocks wero a better and safer purchase now than
tyhen the buying craze was rampant nt from 50 to 100 points nbovo tho curient
level.
Tho easier monetary, condition also Influenced a revival of confidence. Dcirs
Vino had been confident of a sharp break Impending In tho copper 3liarc3 look.. 1
askance at the decided strength of Anaconda. Tho most con.iplcuoii3 movement
Wis In Industrial Alcohol, which rose 8 points nbove yesterday's final. Tho ex
treme rlso from (he recent low was moro than 15 points.
United States Steel common led In activity, followed by Alcohol, and senti
ment was helped by a rlso In the, first mentioned to 83, tho highest flguro this
.week and a net gain of a point.
Bears had been helped by tho sluggishness of Steel and lidding, the two most
representative stocks. Heading roso nearly a full figure. Gains In tho general
list ranged from 1 to p points.
j Hudson Bay Company Declares First Dividend Since War Started
LONDON, July 19, A dividend of 20 per rent, had been declared by tho Hudson
Bay Company, tho first since tho war started. Sir Thomas Skinner has rethed
Xiom tho governorship of tho company.
Sapulpa Oil Increases Dividend
NEW YORK, July 19. The Sapulpa Oil Company declared a monthly dividend
cf 2 per cent., nn Increase of of 1 per cent., payable August 10 to stock of
record July 10.
NEW YOKE STOCK SALES
I.art clne.
Adr jtumciy n
Hkll,
lo'j
;o
... 4515
..120 J t
..210
..107
... 41
.. 9 j
.. 27!j
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210H 21.
10S 10H
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131
10'f
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IS i
fit
101
03' 1
4115
...lOIJi 101TJ 10IT4 104J
Atlr Rumily pf K2'f
AJix Rubber (H
Aiata UoU Mlnsi IS
JMi-Chilrn:rs Mfj 10'
Atlll-ChalmcM Mfe pr... 71M
Am As Ch:mtci OS'i
Am DjotSuwr sn'j
Am Cm , M)i
Am Can pf WV, 109
AtnCar&Fujr fil'f fl
Am Coil 1'roducti 13S
Am Hllaft Leather 10
Am llldi & Lcatlu: pf. . BftH
Am tc Securities 21
Am Mnttcd IS
Am Locimitlv1 0'f
Am Locomotive pf 101
AmSmsIt&lt'1 02i
Am smelt pr A UJ
Am Steel Founckljs.
AmTd & Tot ,
AtaTobicio
Am Tobiejo pf new,
Am Woolen
Am Woolen pf
Am Wtltlnj V nf...
Am Zinc L .V Sm . .
AiacaaJi Cop M ...
AtchTop &S F...
4..-W M. M ct . n 11..
nca lop a o r pi ir.t wj
At. Oulf&WIpf C7!i Oi
A Clulf W I S7!l t-Vi
Uald Imo Wlu r&yt 70?f
IWt&Ohb S'J.4 SOU
Bill & Ohio pf 701 7flK
jfc Blthlsheni Stcoi 450 440
r Urooilyn Rao Tr 4'X S-t'f
v UraoUyn Union Gai 130 130
liuitn A iinp'rior G.J GVi
Csi Patroleum pf 41 45
Centra! Leathsr B3W li'Mt
Ch mdlc Motor 105 105 -i
Chu&Olib GUi 02
Cblno Copoor 40); 4S
CblcijJ Mil & St Paul. . 93 07
ChIe3MUSt lpf..l30 130
Chlcigo R I & Pac 20'i 20'i
Col Ku:l & Iron 42H lt
Continental Can 'J.'IH 'Jl'j
Corn Products list 13) f 14'4
Cruclbla Stiel 03 iSli
Cuban-Am Sunr 225 22 '
! Ciaa Canj Sujar 5Si$ C
Cuba Cano Sugar pf 03VJ a 1
Dvjr & lib Gr pf ... . : 7Jf :-7H
' Dayton P & L pf OoH 05V4
j DlilUl Sec Corp'a 41! 4.IH
1 KlsiStorasj Dat , 02K G2'i
I ErlJ .T5?i 3555
. ErlJUtpf 53-i 51 i
' Owiral Kleetrfc let 105
General Motors 400 491
General Motors pr 109U 110
Goodrl;a B F 72 7a U
Ooolrlch B F pf ll.H llIJi
urcine-cananea 40 45
Iiw. CIi"".
15U 1B'
S
0r
IS
20
72!J
m
SS'
fi.Vj
100
5G!f
131
KM
50!f
2SH
18"S
4
101
93!
03
40
12!)K
217
10S
43f
Wi
7H
nit
Rl
00
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fit
70'-$
SOU
7G54
440
Sl.'t
130
05i
45
5W
fin, Vnrih.M nf
G N cf j for ora prop. ,
Xlllaol Cent
Int Agricultural pf. ..,
Int llarr N J
Interb Con new
Int I'apjr
Imp Con Cop. ,
09
50
3
r.7'x
f9Jf
70! i
445
Hfi
130
45
53Ji
105' j 105
01,' 02
47) i 48
07 07
129'f luO
2(M 20J i
42i 44
Oil 01V.
13H 14H
Hi OS
225 225
57
U3H
33U
95'-?
435f
G2J4
JISH
531i
101'i
490
110
721,'
113J.
4..I5
57JS
91
!'7
95
431
(12 H
ssy,
53 1
105
400
110
7.W
113K
45li
.11S15 118'5 IIS j lliH
31H
.101 ;
. 41
.115
. 1055
. 13
47K
10 t'i
41
117
urn
13!f
4314
25'$
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45)1
7S
25
CO
45'f
35 .ft
101 101
41 44
mi 117
1GK 10K
13!
47Jf
24ti
87) i
4114
78
25
00
4 Hi
127
10J
13K
48W
25,
45K
7S
IntMMcof dep 2T
IntMMpf cof dp S7H
Int Nlciel r t cfs 4-1)1
Jewel Tea ,., 78
Kan C.ty Southern 25
Kan City Southerajpf... 00H
Kennecott Copper 45U
Klnsi Co E h & P 123U 127
LaclrJo Gas 10 1 10,
Laii ErtJ & West 21'f 22S
Vai3 Erie & West pf.... 41 41H 41
LaaStsetCo CSX CO 3 GS
JaltubaTTUj 4'1'i 44 424
Loallard P Co pf 118K 11814 11854 118
Louis Nasn. 1324 13J'f 13-! 132
MacfciyCospf G7Jf GS!i GS5J
Miisrelt Motors 74 775 i 74)4
J.UIWHI Motors 1st P(.t 85 85 85
Maxwell Motors 2d pr... 4 55U
HexlcaiPetrolsum...... 07lf tOi
IhKiaSTexaj 4H 454
Miami Copper Z4H 3iii
Mian 4Bt Louis 5 Mi
Ulna St P 4SSM....125 127
JJUourt Pll: 754 7!f
Mlirurl Paclfle trefs,.. (Hi 7
Montana Poer ...00)4 91H
NatBlicuit , 12U 121
Na Biscuit pf. ,.,.121 128
Nat Eaam & S Co Zi'.i 21
Net Cm Coo .... Ki 105
law yo Mt unico ,,,,122 125
2.1
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105
o
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7 7
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125J 123
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122 123
W), out
NYNIl&Il 00)4 Ol'f
N.(w Vow ceatril 101)4 lftlH 103M lttllf
NortolX & Wfutira 121 123 12SH 129
Narthjra Paciflj U15i UIH 11154 11H
Peon lUllroai .5,' 57 oth LOV,
Pwrti EMtern. ,.,.,., 1 J IVi UH llii
pailadelpala Co....,.,.. U9 3'J o'J b'.
Passed Si fax Co 44 474 44'f 47
1'uba Corp'oN J., ,.,..130 133 133 130
Pullman Co 16K4 1S2 UIH 10I5J
ciuiinllTer. SH 2ii 25f 2)1
UT Steel a? Co 4314 45 43K 45)1
Kay CJS C033;t 21)i Si'4 21 2v54
Itil4T 07 U84 071( 03
lUjabtl? Iron & B.,..,. 1 41-4 41 41'4
HiMW3lm&tspf....lll? KH1 lUVi IfW'l
finamd: Air tins pf.. 331 30 3D 29
tfjjri. i;n to.. ,..,. I9t 195)f 191)4 10 5U
S.faitU8Pir Wi l8Ji lJjj 17J
iBiW4ta raapi... an
fasuaii Oot So
Stw-Sai a 1 39'-4
tisattua Pciae 97J
Bsiwi Rr '..... sdj
Bwtbsi By Dt 6a -j
b duJ MMUni ru H
Uul:but tt 123H 129M
Tapo3per a-jJJ 21
T4j0v. 183 100
1'obt froi pf. 101 iirt
UaiKTvjw UJ S3
l. oi a Jit JPir .... 6i o
Wa.rt Ctj-u bum . . ., U5
VaU4IwMr4...... 3t
Vain Van. l't.
vmitwnit,.,,,. ..vn
1 itM ttmitr&. ja
laCIF ... . ISH
0
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n
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12."4 l'i
103 103
93 m
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08i B?
US'! 13Ji H93i
15rV 155- lift
y Mi W4
Si JJ
SiSH
CI
U 8 Steel Corn'n
U S Steel Corp'n pf.
USSra It & M
Ulah Copper
Utah Securltl(
V.i-Caro Ch-mlqal...
Va Iron, Coal & C . ,
Wabash
Wabash pi A
Wabash pf B
Western B M
Western Mirylaml . .
Western Union Tel. .
Wisconsin Central ...
Willys Overland
Willys Overland pf .
I.nst clo". l!l;h.
, MM N.'S
.117J1 117'
075
, 7551
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, 3
. 48
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27,
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Financial Briefs
Tho New York Subtrcasury ralnel 54,177.
000 from banks yesterday, making a cath
net gain slnco Friday of $12,861,000.
There were no meetings todny of the
board or directors of tho Heading Company
and Lehigh Valley Ttallrond Company, a
recess being usually taken In July and Au
gust. About $40,000 of tho three-year B per
cent gold notes of the American Foreign
Securities Company, tho new French loan,
were dealt In on tho Curb this morning at
as.
"Money Is better employed and Interest
rates nro higher, and the trend of financial
affairs seems to be most favorable, promis
ing well for the continuation of at least a
rcasonablo measure of our recent prosperity
for a considerable time." tnys the Franklin
National Bank In its semiannual financial
review.
There has been admitted to the regular
list of tho Philadelphia Exchange $8,171,
000 Pennsylvania Ilallroad Company con
solidated mortgage sterling stamped dollar
bonds, dated May 1, 10S ; Interest ut 4 per
cent, per annum, due May 1, 1948. These
bonds will be quoted on tho tape as Penn
sylvania consolidated 4s, 1948, sterling
stamped dollar.
NEW YOIW COFFEE MARKET
NEW YORK. July 19. Tho coffee market
was steadier at the opening thin morning
and first prices were 2 to 4 points higher
on scattered covering and some buying for
foreign account. Sales on tho call were
ESOO bags.
Todas-'"
nnentntr.
July ,. H.-UliPti.U)
AUKUSt
September
October H.SO
November
December H.MHH.K4
Jnnuary ,,. H."i)ja.7l
February s.7r,
Mcri-h h.h::OS,84
April N.im
May H.n.'.iJ 8.1)0
June l.UO
Bid.
YterIiy'
cion..
p.axiM.-in
8.4L'S.4
H.4IS0N.47
H.ntfN..vj
s.mtas .17
H.IIIUN.IS'J
8. 117 'BM. IIS
H.74TN.7II
H.MIfBN.K!
KS7MN UK
H.linftM.III
b.butru.uu
19 Hd.
BAR SILVER
Bar silver In Loudon was quoted nt
today, a loss of jd.
Commercial bar sliver In New York was
quoted today at 02 He, off Vic.
Steel Subsidiaries Get Orders
NEW YOltK. July 19 An order for
14.000 pounds of steel rails has been placed
with subsidiary companies of the United
States Steel Corporation by the French Gov
ernment. These mills also have taken con
tracts for about 18,000 tons In small lots
from domestlo railroads, of which 1000 tons
came from Illinois Central and a like
amount from tho Havana Central. In
quiries are In the market for 12,000 tons of
rails for South Africa.
Edward B.Smith &Co
EiiLHan USX
BANKERS
ISemlert h'ew York and Philadlila
Block Exehauatt
Mil Cnm.H'T Stmut, PuiUDiLrou
SO PIM Siitxx titw Yoic
RlAZIER 6- Gb.
INVESTMENT BANKERS
Broad and Sanson) Sts.
i.r.n.i, auvektiskmknts
-25HsTATK OF JKXNIE UINO, ))KtU.SKI
X ttc&r of dmlnltratloa on tb abov
tttt Uivltw tuna graoud to tb iuuUrlxnd.
all pr8B lndbINl to th aald rstat are ra
oueatt4 to raaks paymol, aul tlwa bavlas
,ui 1 p..nt ttveja-ggajji.to
Parby. Pa.
Or t hla attorney.
AI.JMSKT T. UAUEULB.
cai Comoaawealtb BvilUlmr, Pblla.
IlIBBCTdRY OI- ACCOl'.NTANTa
Ortlfril I'abll Arrsuotaut
New York Bond Sales
Hleh.
...iw.
lAA Atftftba flAlt mi l.
nono Amer Air deb 5n..... HS'A
Jl.limo Anxlo-Kr ,B .....i... P.1J1
.11)00 rAmer Tel fit 4a..,n,t ,m;
2101 Atcblon sron 4s..,,.. icH
.111011 'do cv r.a.ini7 miu
lunnn AlHn i'o l.lno lt 4.. i3..
mono ,10 I'Ss ...1 rii'S
DSniiii Unlto Jt Ohio 3W. ... l2t
Kinoo do ri ............ .llii ,
soon do -la . , , win
4L'M!ll do cv 4U t
Iiiihui n ft O Pl.k A W V in K7
12HIMI lletli Rleel rM .". I1111W
7nnu jlrookii II T .la llUS..inn
Sii )lah Term ris ss
3Wiil Can Cnt 4s 11121 HJ4
.soon do inscl ;.... jmiJ
20(1110 do 1!)31 1'llljj
13IKMI Cent I'ae lat t .isti
.1111111 cent it is N J r.a. . . . . . 1111
lfinflil Chea A Oblo cv Hi... S.I
Ulilii'l do conv f,i Il"
40IHI CM & AU0.1 3'ia r.n
limn Chi (It IVeat li Tii'i
2,1110 rill Nnn (tmi 4a... li'N
IMilin Oil H & Q Joint -In.. !iT'
17HIHI Chi II ft 0 Ben 4.... I2
lINiil do r,n -'a 117 'i
r.nipii nil M ft ft I' cv t'li.lnii'l
"linn Chi II 1 & 1' f.M 4a... ""
SlMlll.l do t.i Ii.l
1 noil Col A S'nuth I ia. . .. S'lU
liKKin Chic Cn st.i 4'.i ti!it
mum I'uhen Am usnr tw..1nl
4IHHI Del Huil lonv 4...lli.V4
T.lnno do rfd 4a us"
7(iio V-n ft lllo Clr 4 .... "Sj
.11.01111 1I0 rM ',. , 7ii'4
ISiinil Dla Rfcur Corp ,1a.
amnl llrle ronv 4a Per A
irooo do ion 4a Her 1
.Mil 11 llrle Pn 10I 4h ....
inim (Ion nice deli .Is .
SIII'll ill SUcl ilrb 4' j a
lint'ii Indlnnii Steel ," ,
l!M.n( Inwn rent rf 4a
r.niin 111 out 4a '..n ....
4DIIII Inter!) Met 4ia ....
tsniiii Inlerli It T rer r.a .
17IHHI tnt M M rt 4'ia ..
Hum Int ft Ot Nnr 1; 6a
4nr(i(i ,lnr new II H l'i .
nini .Tnii-i.iei ftpt 4"a .
11 in Knn Cllv So Jia .,
inim Knni & Jtlcli ! ...
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1 1Miri l.nh Vnl of X V 4'in.llll
.THIII I.W ft M T 7a I5.it
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r.lill'l .Men Pet I'n Ha Scr C'.lll'i
fiini' Minn ft St l. la .... 'II
r.noil Mn Ken ft T I'ib... M'i
r.llOll Mn I'nc ct la .Il'i
70011 do cv r.i r.t'i
1CIKI Mnnt l'nwpr .la Il7'k
Union Not llnnni ft Sin r.a. ns'd
noon .N v 1: I. s .I'ja
r.i'.ooii .N' Y V ft 11 Ha..
10111)11 du la
.101111 do vim 4a MJa
71)011 do I'jn I'.l
niiiin N Y I'lty .Tin Nov Ml !!
noon N Y i'lty 4ia ini'.o..ln-'ii
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fil'.IMI'l N Y Te .en 4'l9.
aoiii) Nor Puc ireo :t
limii Ore ft It IV ft N 4a.
r.noil Ore ft Car !ia
nmiii Piuine Tel r.a
tionn 1'entm -ta in IS
2itiiiiii do Ken et 4'ia..
llKio do en I'la
soon Public Scrv N J f.a
1 limn Itml'nR kc.i l
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41)011 do nja w I
1.1000 do Ser II w I
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mum do rfd 4a
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COTTON MARKET OPENS QUIET;
ONLY SEVEN TRADES ON CALL
Tone Is Steady, With Prices of Active
Months 1 to 2 Higher
NEW YOniC, July 19. Another small
openlnir was witnessed on the Cotton Kx
chanse this morning, there helnpr but seven
trades on the call. The tone was steady,
with prices for the active months 1 to 2
points higher, July showing a loss of 2
points.
Liverpool was a moderato buyer of the
near months, but sold March. Spot houses
and Southern Interests purchased, while
the supply came nlmost entirely from room
shorts, who have been supplying the demand
during tho last few days. After the call
tho market held at about the opening levels.
I-AWIIES-CH J3. UIIUWK CO.
114 UKAI. JCSSTATB TRUST IIUimiNCl.
'Xm JiJUJa
Ycaterday'a 11
cloa... Open. a.m.
July 12.ss 12H7
AUKUat 12.110 I'-'.!"
(Ictn'JiT 1S.04 13.0.1 13.0 4
Occcmlier .. .13.2(1 1:1.20 13.10
Jnnuary 13.2(1 13.2(1 13.23
March 13.I2 13.4t ia.3'1
May 13.r..1 13.3(1
Spot 13.1(1
12
m.
12.80
ih'.oi
13 HI
13.21
13. an
p.m.
12.HH
1.1.13
13 1H
13.33
CURB MARKET
SHOWS FIRM TONE
Trading Is Quiet, Especially in
tho Moro Important
tfefc-
Issues
NRW YOltK, July 19.
While a generally Arm tone was shown
In tho Curb market today, trading as a
whole was comparatively quiet, especially In
the more Important Issues,
Oil Blocks wero generally higher, with
Inteiert centred In the lower-priced sh.trcs.
with OdStton more prominent. There was nn
especially good Innuliy for Cosden & Co.,
which sold ex dIUdend ot BO per cent.,
while Cosden I'll nnd (Jns continued gener
ally ntrong nn various unconfirmed rumors.
Standard OH stocks wero comparatively
quiet, hut somewhat higher.
Jtotor lasurs continued quiet, hut worked
fractionally hetttr. Mining Issues wero
slightly higher, but quiet, French Oovern
ment 5s wero in fair demand.
INDUSTniAI.a.
111.1.
Si
,,, 1, 11 r
:Oi
I,,,. 1111
2.1
I
Aetna ttinlovci . ....
Am lir.t .IKK
Am Mnironl ,
Chexrolet Motors
t'urtlaa Aernnlnna . , .
iiriRBa-sean '.......,,. 1111
Ulaenlolir Tot) Il'i
do tiref ,,,,,,, 1)1
Hmprrnn Promisntpli ,,,.,, HI
Fleml-ii-I.Min ,,,,.,,, 3'h
llnakell n llnrker Car ..,,,..,,,, .1114
Ilendee .MfP , ..,, 2.1
Inter Mer Murine .,..,,,,,,. 21
do prof SI
Knthodlon I ro.i7e fref ,,,,, 22
Maxim Mun'..on ,, -t
.Manhattan Ymnalt 114
Mldinle Steel ,, Cm,
ntla i:ientor H7
l'errleaa Motors ,.,,,, 22
I'nole llnic , , HO
H S Krease I HI
Standard .Motora fi
Sulimarlim 3.1
Stut Motora co'4
Trlinele Film 24
United front Rhnrlnn ir.-lil
United Motora ,,, Crt'i
U S 1, tt II com '."..
do pref r4
White Motora R2S
World Film t.
RTANUAItl) Oil, HTOCKS.
Ohio 1 22a
Pr.ilrle PIim 218
s 0 of Ciillfnrnln 2(17
S O of New Jersev 320
Asked.
II
Mil
U ot New York
oTitnu on. stocks.
Coa.len A Co
i'halmra oil
Inter Petrol
Itouaton oil ....,,,,..
Mlilweat lleflolnir
Sapulpa ltcflnlng
MINING STOCKS.
Atlanta.
Iiutte I'oi'pcr & Klne
Iluite N V
(.Vrro ile I'aaeo .,
Plr'l .Nntlon.il
lioliineld Mprirer
lleelii Mlulnir
Howe Sound
Jim llutler
Jumlio I!c ..,',.,
MeKlnlcy Darrnli
Misma Copper
Mlnea Co of America
NIpfB'IniT
San Toy
St. .Toeplt Lend
WV.t Hnd Con
Whllo Oaks
110NDS.
Cerrn Ha
Mldvnlo .la -
Amcrican-l'orclBn Securities r,a,
102
. 2I'4
.' HI
. II
. 02
. 10;;
. 10
. .3.1
, 4
. N
. r,
:
. 14?;
. Ull
. GV4
.110
. IK
, US
10.1
411
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I
.111
30
211
III)
21
r.
114
1,11
no
21
1111
Mil
it
3.1 '4
o '4
2'
n?i'4
J
1
2.1t
220
272
r.2.1
203
21
H
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ft
34
M
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Hi
77
7
1.1
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03 '4
LIVE STOCK QUOTATIONS
CIHCAOO. July M. HOOH Hecelpta. 2.1 nnn
Marl.ct sternly. Mined and butchers. JH.2.1
lii.ln. Rood heavy, 13.4nriiiio.M; roimh heavy,
Jll.l.lfMi.XI: light, 10.330.10; piss. IS.S.'Wll.SU;
bulk 10 IIOOO.OO
CATTI.K Receipts. 13.000. Market steady.
Decveg. lll.llofpll: cows mid heifers, lltl'l) 1.1;
stockera and feeders. J."i.7.1'tf8.3J; Tcxans, 17.25
Ull: caheB, tu.2.112.
SII13KP Receipts, lff.OOn. Market steady.
10c. lower. Native and Western, J3.C0StH.2J,
I.amla, 17.70(3)10.00.
Proposed Changes
in the Income Tax
For the Information nf Individuals
auhject to the Income Tax. wo have
prepared a pamphlet outlining Blm
piy and concisely tho proposed
increases , In tho Tcderal Incomo
Tax Li nr.
Appreciating tho probahle effect of n
heavier Income Tax upon certain
classes of bonds, we Include In tho
pamphlet n list of securities which
we recommend for Investment at
thla time.
Scntl tor Pamphlet PH-H
N.W.Halsey&Co.
II11 Clicttmit St.. t'lillnilrtnltlii
New Yorl. Chicago isnn lrftnclnco
n
I Announcement
iN and
July
1916, ve
occupy temporary
quarters at 45
South Broad St.
(Lincoln Build
ing) during the
construction of
the new Colonial
Trust Company
Building, Market
and Thirteenth
Streets.
Colonial Trust
IIIIIIIIIIIIIIIIIIIIIIIIIIIIiiIIIIIIIIIW
will MSlftgU i
Willi I
Company
Market and Thirteenth Sts.
Philadelphia
Brown Brothers 8c Go.
Tavzvm amd Ckestwvt Stueets
PHILADELPHIA
i- i i
Bonds for Conservative Investment
PHILADELPHIA & READING RAILROAD COMPANY
IMPROVEMENT MORTGAGE 4 GOLD BONDS
Dated October 1, 1873 Maturing April 1, 1047
Free cf Pennsylvania State and Normal Federal Income Tax
Descriptive Circular and Price Upeq Request
Sales in Philadelphia
Hlch.
1M Am Ilivys prefj nt;
loo Am Zlno 3I4
I Hurt ft Hus t o r.o.,
SO ram Iron .... 41'4
Con col Fuel 4Vi
in fataw 1st pfd. r.31
42.1 r.lcc fltor .... ni
"n ir iia nf.
71 Ini Co N Am.
Ml Knt Sccur ...
in Ken Copper . . ,
2ir. Key TM Co ...
.1 J.ch Nav
A'i l.eh Vnl
31
H I. V Tr nr
V.mtn. 11 11
2ii J'nppi Salt Mfc ni
jiii I'nua i o
nr.
!i"
714
7Sji
r.7't
. Net
1iw. Clni. ch'ire.
PS'i nx'4 ,i...
.1IU MS ,U
r.n r.n 1
4)i 44A .....
r, ni 'I
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2 it;
HV.i
mi:
. il'i
m. iIa M..-M 1PAf Jll
1W! null Jllectrlc .. 28H
inim 1 11 T tr clM I'". .
4 Phlli Traction.. 77H
Inn Tonopili ltd . .
S" Tcpn Copper .
1 .1.1 1'n'in Trae . .
17ii W n T
O It 111 It U Plf.nl
III tt III V lilllll' '
2". Yo-k Uvy .... ir.
7.1 cli liM 37i
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BONIJ3.
llliin
1hn Am a A r,Ui, in
linn Alt ft 1. V 4',4(i Ri
1'iiVI 111 1'co Tr H R.1
100(1 1, V Kn 4i. ..."'!
l.Viim ill rpii 4'4n.1nnU
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Emm Vn (ten 4',ii . .Int
liinnn vt ri Mil si fl.iniH
nnnn l'hlla Cn torn fi 7'i
4(inii piilln Tllre ..In.iji
Jminn 1' II A 1' 4k.. nnji
r.onn itrn.llnB uen 4. n'U
limn Slnml On(tn...lnil
inoo Span-Am t 0 Hi2l4
2nnii vn Tr 1'otn r.s nn
7cnn w ji Y & V f.liM'.S
1000 York Ity 1st us U5
nr.
2.-.K
2'..
4,!
74 !
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42
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tUMivIn
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ilo prof
111. n Ktnrniio
(len Aln
rlo prcf
Key Tel
do t c
ilo pret
T.nki. Sup Corn
I.rli Nov
I.e)l Volley
I,eh Vnl tr
iln prcf
Prima . .
l'hlla I".l-c
111111 Co
ilo r per cent. pr.
rlo II per cent. pr.
P It T t o
ltenillllir
Ton Url
Tun Jlln .iT
Vn True 4314
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IIIIIIIIIIIH!lllllliinil3lllllllilll
I $300, 000,000 1
m In Dividends and Interest S
q Thli U the hure um itatlitleitm -
- llture will to dliburied In July,
; tr railroad and Industrial corpora -.
2S tfoni, to Mcurtty holders ai their
7-; ahare of tho half-yearly earnings. ;
The prosnerlty of tha country
)l could not tie letter or mora con- (S
j-1 cretely Indicated; nor could a l--!
; creator Incentlra bo produced for
tho Investment of surplus funds
In tho securities cf Amorlca'a
cardinal
S Railroads and Industrials
L5U q Our frre Investor's rocket Van. ISU
ual, llilnr Important corporation SZ2
statistics, will bo sent upon ro- J
SS tjuest. Ask for S2-P1, lncludlnt; S
booklet explaining;
"The Twenty Payment Plan"
in
lrvyimett.?nii'itc- S
ZS (Italabllshed 1008) --;
-JO Exchange Place New York 5
illllllllllltHlillllllilllilllllllllllil
STOGIC TRADING "IS BROADER HERE;
TRANSIT TRUST CERTIFICATES ACTIVE
Furnish Feature on 'Change Possibility of Dividend Dis
a. cussed Higher Rates for Time .Money in
Philadelphia Expected Soon
parts or the Street. It Is understood that
there Is n. movement on In some quarters
amoiiR holders of the cotnp.injr's stock to
put before the board tlio question of
iTIVIdcnds. 7hether nythlr.K will come of
this In nhajie of payments to noteholders
the directors, of course, are tfy.e only ones
who lmow, nnd nn opinion cannot be ob
tained from that source.
Keystone Telephone common moved up
a fraction ns did Union Traction, Pennsyl
vania ilallroad nnd a few others, while
many Issues wero unchanced from their
Inst previous close. Durln? the noon hour
Cramp trust certificates sold up 2 points
to 7G, later losing; part of this gain.
Gtocl: tradjnp; In Philadelphia today was
broader than It has been for romn clays.
While there was snmo IreRularlty In price
movements during 1 le early deallngi most
stocks moved up, although the changes In
cither case were not large.
The financial district Is watching the
money innrltet with mo-e than usual In
terest, this be'ng duo In great measure to
tho floating nf tho new French loan, a largo
part of which will ho tnlten In Philadelphia.
Attention was drawn to the possibility of
higher rates for time money In the near
future.
This, In the belief of the Street, was fore
shadowed by tho action of ono of the largo
trust companies situated In the Lcntrnt part
of the city In rieclltitiu; to make commit
ments beyond four mtm'.hn nt the rate of
B per cent. This Institution Is asking 6
per c?nt. for six monlha' time money on
offers nf good collateral.
Attention In stock dealings wns centred
In Philadelphia Itdpld Transit trust ceitlfl
catcs. Tho prlco wns 20 at the opening,
a new high mark for this movement, nnd a
gain of a ,i from tho close of yesterday.
At tho high point, however, a nupply came
nut In tho shape of profit-tatting sales, and
the prlco declined to below tho final of last
night, but In the afternoon It recovered and
sold unchanged from yesterday.
The financial district Is waiting for the
company's nntiunl report. It is known that
the report will bo a good one nnd that record
earnings will bo shown. The possibility
of n. dividend In tho near future, not later
than this fall, Is also talked of In many
wn una to announce that
Wll HAVB Orr.NUD A imANClI
OFFICII AT 21 nrtOADWAT. CAM
DHNr N. J., UNDnn. TUB MAN
AOKMENT OF Mil. W. II. TUP.N
UULU PARRISH & CO.
Members N. Y. A riilln. Stock Hxchanecs
1500 WALNUT STREET
Philadelphia
July 10. 1810
American Foreign
Securities Co.
3-Year 5 Gold Notes
Amply Secured by Collateral
and Obligation of
Government of
. The French Republic
Price 98 and Interest
Yield Nearly 5f$
Welsh Brothers
028 Chestnut Stueet
rblladclphta
jpiHinimiM
Original Subscription
1 CAPITALIZATION:
Subject to prior sate, we offer
$2,000,000
First National Stores, Inc.
7 Preferred Stock at par, $100 per share,
i
with liberal allotment ot, Common.
Seven Per Cent. Cumulative Preferred Stock.
Mannirers' Shares ot Common Stock
Common Stock
BUSINESS!
Opening ft chain of retail dry (roods and apparel stores
Eastern and New England States.
Stores now In operation nnd In courae of trnnefert nre
Ot 941U.UUII.
It Is planned to open fifteen ntores per month for the next ten years,
Subscriptions may bo sent direct nr through your bank or broker.
Par linn jii.iiiih.imiii
Par J1DII l.niiil.iliin
Par 1100 U.UUu.UUii
In twenty Middle-Western
dolna an annual business
HL
CilEI
Prospectus on Request.
FIRST NATIONAL STORES, INC.
DL'DI.KY II. MUKGI'.K. l'rr.ililrnt.
Astor House Buildin?, cuV'Jvew'st. New York
Telephone Cortlandt 411)0.
Il!l
This Company will be pleased to
receive your Subscription to the
American Foreign Securities Company
Three-Year 5 Gold Notes
' Subscription price 98 and interest
Yielding about 5.735 per cent.
Commercial Trust Company
City Hall Square
FHEE FROM NORMAL FEDERAL INCOME TAX , TAX REFUNDABLE IN PENNSYLVANIA
$500,000
Empire District Electric Company
First Mortgage 5 Sinking Fund Gold Bonds
Dated November 1, 1909 Denomination, $1000 Due November 1, 1949
Interest Payable May I and November 1
CENTRAL TRUST COMPANY of New York and
CONQUEROR TRUST COMPANY of Joplin, Miuourf, Trutee
The Empire District Electric Company is a subsidiary of Cities Service Company, one of
.-2 best known and most highly prosperous Public Utility Companies in the country,
EARNINGS APPLICABLE TO PAYMENT OF INTEREST ON pONDS
FOR THE TWELVE MONTHS ENDING MAY 31, 1916
Gross Earnings , $1,404,753.15
Operating Expenses , , , 8 1 71 54.54
Net from Operation, , . . , ,.,,,., $ 587,598.61
Lessilnt. on Underlying and Allied Bonds. ...,.;.,..,.... 75,886.66
$" "511.70.95
Less 1 Year's Interest on $3,346,000 1st Mtge. 5 Bonds, . . lojyOOJJO
Balance, $ 344,4 0.95
The interest charges on these bonds are earned over 3 times and in a period of five
years the gross earnings have nearly trebled and the net revenue increasedover 22 times.
There is a large equity in the property above all outstanding bonds. The territory served is
a rich agricultural and mining field and a well diversified power market.
We recommend these bonds for investment. . ,
Price on Application
Descriptive circular, upon request. i s
KLEMM & KEEN
1326 Walnut Street ' BANKERS Philadelphia, Pa.
-4