SSmSSm'wmmrm'mmrmmfmmmmm
WMumtjMg"'"'
I
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L " "' T "" T '"""" " ' '" ' "
- -- ' !--- .-...-.- lV , ... ,. -
FINANCIAL NEWS
" ' -- -
EVENING liEDGER-PmLADBLPfilA', WEDNESDAY, SEPTEMBER 6, 1916:
3OTNESS IS LARGE IN WALL STREET
AS U. S. STEEL COMMON CROSSES 101
HigKest Stock Has Ever Sold Million-share Mark in
. . , .Trading Passed Before 2 o'CJodk Recessions
Frequent and Wide on Realizing &
High roint8 in Today's Financial News
Unilid Staiea Steel common crossed par of $100 for the first Hi
its history, being the most active in Wall street trading. Trading in i
on a biff scald Sharp 'Aclinc in cotton prices. Good buying sent i
me tu
stocks
whcat
German exchange
tip in mornina. but scllina caused decline in afternoon.
touched another new low point. Midvalo Steel directors did not discuss
dividend at today's meeting. Price of bar silver higher in New York ana
London.
NEW YOIIK, Sept. B.
The tnlllion-sharo mark was pasted In tho Steele market today before 2 o'clock,
with trading on nn exceedingly, largo scale In many issues. Moro than one-fifth
of the business was In United States Steel common, nnd tlio movements In that
etocTt woro determined by tho execution or buying orders on nn unusually largo
t scalo. Baruch, Bros, und Flnley, IJa-rroll & Co. each bought moro than 20,000
shares, while A. A. Ilousman & Co. took moro than 10,000, nnd F, B. Kcech &
Co. bought 10,000 shares. There were numerous C000 sharo-buylng orders.
This record-breaking demand could havo only ono effect, and that was tho
moving of tho stock up to now high-record prices. Earlier )n tho day tho stork,
after ranging slightly above 09, moved up to 100, and It wns not long after that
all tho offerings around that prlco were absorbed, and In tho lato nftornoon tho
utock crossed 101, Bliowfng a gain of moro than 2 points for tho day, nnd tho
highest It has ever sold.
The trading In. 'Marino common was also on a large scnlo, carrying Its prlco
to 50, and Marine preferred, which closed, yesterday at 118, roso to 121, mak
ing a gain of more than G points.
Recessions in theso market leaders wcro frequent and wide and wcro regarded
us indicating heavy realizing sales, but It was Insisted that whero theso stocks
wore sold other stocks were bought by tho samo operators and tho recessions wcro
followed by activity and strength In other quarters.
Tho war-order stocks ero in brisk demand all through tho day. '
Tho profit-taking sales Increased In volume nnd had more In.'lucnco In tho
last hour's trading, when Marino preferred fell below 120, losing almost all Its
early gain. Beading yielded about 2 points In a few minutes beforo the close,
nnd there was a sharp reaction In many other stocks, Including Crucible Steel,
American Beet Sugar and Marino common.
i Midvale Directors Do Not Discuss Dividend
NEW YORK, Sept. C Directors of tho Midvalo Steol Company held their
regular monthly meeting today. Tho question of placing tho stock on a dividend
basis was not discussed.
NEW YORK STOCK SALES
Last close. Illsh. Lott. Close.
Alaska Gold M 124 13 12H l.'l
Alaska J Gold 7H 7 7ii 711
Allls-cnal Mfu ,
Am As Chemical.
Am Ae Chem pf.
Am licet Sugar..
Am Can
Am Can pf.
21
.. 77H
..101
.. S0K
.. rem
..115
Am Car & Fdy 02i
Am Coal Products 143
Am Cotton Oil 62K
Am Itido & Leather.... K)V
Am iiiiio & l pf ran
Am Ico Securities 27.' i
Am Linseed 22H
Am Linseed pf fiOH
Am Locomotlro 7GJ
.10 Hi 103
25 24 2tJS
775f 77JJ 77JS
101W lOlii 101H
OW 80 00
VW 03JS M
ma inn urn
G4tf 02JS O-Ui
140
S3
10K
C3JS
28
22H
50H
77Ji
io:
14S
53
105f
51
28
23
51H
70
147
53
10
53Ji
28
23
51H
78
103
Am Smelt & Rcf,
Am Smelt & lief pf 112H 112M ll'JW 112M
Am Smelt pf A 06 07 0G)i 07
Am Smelt pf B S3 S3 85 S5
Am Suear Heflnlnc 109 109J4 100 100
Am Sucar ItcfinlniJ pf ..110 11S5S 118Jf 118W
Am Steal. Foundries 53H 55H MM SUM
Am Tel & Tel 132 132K 132 132K
Am Tobacco 210!f K20H 220J 220H
Am Woolen Am AdU -KM 4051
Am Wrltlne I pf 27H 28H 2GH 2SM
I Am. Zinc L Sm 35H 37 35H 35
AmZine'L & Sm pf .... 73 7.W 73 735i
7 Anaconda Copper SOJf 87 Wi 87
, Associated Oil GS 08M (S8H G8JJ
t AtchTop&SF 103 101 102M 101
i AtchTop&SFpf 09 09 09 00
I , AtlGulf&WI 735f 74H .1 74
h ' Atiauif&wipf co co co co
f lla'dwin toco Works.... S0H S3f 80!' 81!f
i Baldwin Loco Wks pf.. 101 101 101 101
Bait & Ohio SOU 80 SO 80
Bait Ohio pf 73H 731 73H 73H
i Bethlehem Steel 487 491 490 493
J Brooklyn rtap Tr 85 85 S5H 85)f
Brown Sltoe C2H 03 03 03
Brown Shoo pf 09 09 09 09
, Burns Bros 77) 77H '.7H 7715
i Butto & Superior C7J GSH 07 08
(-,' Cal Petroleum 20 22K 20i 22
3 Cat Petroleum pf 48 49 49 49
82 82 82
18 17J; 17J'
20f 20!f 20)i
5-1U MH 51U
lOt, 103 108
50,'r 40JJ 0
30 30 30
07 07 07
HUH 110M 110H
Canadian'Paciflc 177 177 177)4 177f
Central Leather 57)4 57K 674 57U
Chandler Motor 107)4 110H 109 J10)X
Ches Sc Ohio G0H 61 C0H C0)i
Chicago Oreat Western. 12)4 12!f 12!i 12)f
Chicago Oreat West pf . 30 30H 30)4 30J4
Chi Mil & St r 03!X 01 03H U3)
Chi & North western.... 124U 124!f 124) i 121)4
ooc&stL cay, mi coix oou
O O C &fit L pr 82
CM it I & Pacific 17)i
Chile Copper 20
Chlno Copper 5-1
Cluett I'ea & Co pf 103
Co, Fuel & Iron 49)f
Col & Southern 30
Continental Can 07K
CoiOELiP Dai. ...110
Consolidated Gas 137JX 13S 137i 138
Corn Products Kef 14IJ 14)1 MM 14M
Cruclbla Steel 78H 83W 78!i SI
Cuban-.Vm Sugar 235 239)f 235 '239!f
Cuba Cane Sugar 55)f 60H 64W 60)4
Cuba Canq Sugar pf.... 04M 05 01)4 05
Daa&IUoOrpf 33 32 32 32
Diamond Match 118)5 120)4 120)4 120)4
DlstUl Seo Corp'n 40 40K 45H 4(5
firle 37 37U 30)4 37
Kris 1st pi 52Ji 52)4 52 52)5
Erle?dpf 41 42H 42H 42H
General Eloctrlc 109)f 172 171H 172
Geo Motors pf 120 123
Goodrich P V 71 71)4
Gran by Consol 80)4 SQVs
Great Northern pf 117 117
Q N cfs for ore prop... 3SM
Greone-Cananea.. 48
Gulf States a 1st Pf.... 05
Gulf States S 2d pf..... &
Illinois Central,.., 101
Insp Con Cop 6S54
lnt Agricultural 11
Int Agricultural pf 41)5
lnt Con Cor v t c th... 10)i
Int Con Corp'n pf...... 73
Int Paper,..., 10)4
Int Paper pf 73)4
Int Nickel r t cfs. 4254
Int M M c of dp 47)1
Int M M pr c of dp. ...110)5 -124
JevelTeai.., 69 02
40)f
48)f
D5!
SO.
101
59
12
41!X
16H
-77H
17H
79
4 IK
COM
lOrtU 1tf
73)4 731
bGH 80)4
110)4 110),'
33)4 39)5
43 48)f
05H OSH
SO .80
100)f 101
58 tSH
12 12
41U 4 IK
10
73)f
10)5
77K
41)5
4H)f
110)4 121
01 01
10
73U
17K
79
41)5
4S)(
Jewel Teapf 111H 11075 110JX 110f
KeUy Spring Tiro 83)5 W)i S3H SI
Kennecott Copper 503f 51!5 51 51)f
Lack Steel C04,.,. 78J 80)4 78)4 ,S0
Lea Itubter Tire 47 -4QU- 47)5 48H
Lehigh Valley 78)5 7SH 7t)4 78)f
Loose-W Ills 1st pf.,,., 82 82 82 82
Lorulard 5P Co 237 238 238 238
Lorlllard P Copf.....118)r 120 120 120
Mactay Cos pf..... 07 67 67 67
Harwell Motors 84)4 85H MX 85
Wax Motors 1st pf 85) 85)X 85!X S5)X
Max Motors 24 pf...... 55H 0 65)4 56
May Dept Stores.. ...... 61 61 61 61
II eiican Petroleum. 109)4 113SX 110)4 113
Iter Petrttetira pf, 01)5 05)4 05H 9315
Mliml Copper..... Jo
Mo Kin & Texas 3)1
Mo Kaa & T pf....,.,.. 10
Missouri Pacific 4
Mo Pao tr cfs.., ., AH
Mo Pao w I............. 2245
Ma Pao pf r I...,...,.. 47)X
Hat Enaa and 8 Co.... 25
Mat Lead Co. 65
KerCoaCop. .......... 21)X
T.'w York Air Brake... .135
Hew York Ce?trl,.,.,,.103!X 10DX 103)4 103H
KYOiAVt ,.. 20M 265 26)5 20H
KorfoikKOUttfiJ-n. ....... 23 23 23 23
KorfoOC &Wst3..,M.127; 128M 127M 128
Korictt&Westpf...,.' i 60H SOX 86)4
Kortliem Pacify. ......UWf 110i 10DH 100)5
xtetano cuTu Mto,,,.,. on '
3cms AXUL. ........... 27
PaotOaTil & TbL ...,. 37
t'eoa Kaii"M .... S5H
vhiiitdJciiJa Ct.. ....... 99
Wti&t Q twm,
85)5
3)X
10H
4
4
35
3)4
10)5
4
3JX
SSM.jHOi
4t 4a
25)4
65
21)4
138
26)4
36
65 X
30M
as
25
65
21
137
35
3)f
10H
4
I
25
65
21
137 J4
mm Q &,&: ',
25 29
1M 3fl
65X 65)f
3ft " 3
Last clone Illsh. Low. Close.
Pitts Stool pf OS 09 09 J!)
Pressed Steel Car Co.... 51 55 C1J4 55
Ily Steel Sp Co 45'X 47 45)4 45J5
Itay Con Copper 25 25JX 2o)5 25)4
Heading '.....101'f 107JX lOlU'lOC
Heading 2d pf 44)5 40 40 40
llcpiibllo Iron & S ". 54J4 55)5 53 55JJ
Itcpubllc I & S pf 113U 111 11375 113)5
Bhat Aril Copper 29 29)4 29 29)5
Seaboard Air Lino 15JX 15)1 15K 15)5
Scars floe Co 209)5 210 210 210
Sloss-Shcf S & 1 17 CO fit) 50
South Porto It Sug 179 178 178 178
Southern Pacific 07)4 07)4 07)5 07H
Southern Ry 24 23)5 23)5 23)4
Studcbakcr Co 123)f 120M 121 125
Tennessco Copper 25 25 J4 21JX 25M
TexasCo 190 203)4 197 201
Third Avenuo...., ,01)4 C2)f 02!J C2JX
Tobacco Products 45)4 4SK 40 47)4
Tobacco Prod pf 101!i 102)4 102)4 102S
Union Bag & Paper 8 835 8 8)4
Union Hag & Paper pf.. 48 CO 48 CO
United Cigar Stores 98)5 102JX 00M 101)4
United Fruit 105)5 107)X 1G0JX 107
Union Pacific 138)4 130)5 13S) 139
Union Pacific pf
US 0 IPS F pf....
US Ind Alcohol
U'S llubber
U'S llubWr 1st pf...,
USKm H &M
ussm n&M pr...,
U S Steel Corporation
U S Steel Corp'n pf. .
Utah Copper
Utah Securities 10'X 17
Va-Caro Chem..i 41JX 42JX
Va-Caro Chem pf Ill
Va Hwy & Power 47
Wabash 13)5
Wabash pf A 48)4
Wabash pr u ,
Weils Fargo Exp...
West Union Tel....
West K & M
Western Maryland.
Wheel & Lako Erie
Willys Overland 45)5
Willys Overland pf 103IX
Wisconsin Central C0)5
Woolorth F w 130
80JX 80)4 80)4 SOJX
G2)4 5234 :,2V, 52)5
110)5 115H 112 115
, C9 CUM 59 59JX
lllif 112 1U 112
, 72H 73H 7.1 "J
, 50)4 51)4 51)5 51M
OSJS 101)5 00)5 1U0)5
HS.t-i HH)i 11S1X 118)5
.81)4 85 8i 85
17 17
41)5 42)X
110)4 110)4 110)4
40 45 45
13)4 13H 13)5
48)4 48H 48)5
20)4 2054 20)5 26! 4
125 , 131 121 124
03 05)f 03 C, 05JX
59J5 COJX CO 003X
OH 29)5 20)4
4)5 4H 4)5
4C)5 45 40
101 103?X 101
COJX 603X 50J
133 137 13S
2S-X
4)4
COTTON PRICES DECLINE
Ig-
Favorablo Liverpool Cables Are
. nored Buying Is Good
NEW YOItlC. Sept. 6. Favorablo Liver
pool cables nnd unfavorable crop weather
were Ignored .at the opening of tho cotton
market this morning. The tone was easier,
with prices down 6 to 11 points.
Offerings were largo on the call and buy
ers were not obtained until prices declined
to a level at which orders were reached.
Thero was some Wall Street silling and a
supply came from Liverpool.
Tho buying was of u good character,
coming from spot and uptown Interests and
from tho West, but was not large enough
to absorb the supply.
There was a good deal of southern sell
ing here, partly from New Orleans. Trade
Interests were good buyers of October, and
after the execution of stop orders on a de
cline of about 18 or 20 points from last
night's closing figures, the market steadied
toward the end of the first hour.
The market was weak lata In the morn
ing, and It seemed that selling was encour
aged by rumors that returns to the National
dinners' Association Indicated a ginning of
612.000 bales prior to September 1.
The pressure on the break of about 25 to
29 points from last night's closing figures
was patly the result of further southern
selling, white additional stop orders were
uncovered.
The decline was checked around 1G.59
for December by covering and rallies of 8 or
9 points, followed by the publication of the
weekly weather report.
Ytr cloie. Open.
,,,,Sr,T! 1IW
in. hi l&.M)
January .....In. UT j.Vbtl
jiK :::v.::::8:i8 l&fe
tipot ,.. 15.05 ,,.,
rwotwi -
"-! -""
jsvcr-iuucr tf
IIlh.
is fo
IK. hO
fS.hU
IB.OT
lH.lV
10.22
Low, Close,
5.47 ltl. .-,H
1S.3!) 15.A1
1.1.1)7 15.73
11. (--J 1S.UU
3.07 1H 6.1
10.00 lii on
.... 13.60
Peojrfes Trust Company
of Philadelphia
CONDENSED STATEMENT SHOWING CON
DITION AT CLOSE OF BUSINESS
AUGUST 81, 1810.
ASSETS
Loans and InTettmtnti.,,,, ,S02.T89.22
IUil Ejtt, Kurnlture nd
j?uiuren iiia k acch ou.j.. vira9.oi
Cub oa hand and ta bank,,.
28T.T00.02
$2,597,944.85
LIABILITIES
CrlU! Stock ,.........,.,..,. IS3MS0.OO
Sorpliu and UniJIrtdcd ProflU
(Earsad) i 143,S8,eo
HorttM. (12th. k Arch Sta.)...... 100,000.00
I1UU PayatU TO. 000.00
DccotlU ....,.,... L0H.68a.S5
$1,597,944.89
LOUIS FLEISUEB. Yi&liwt.
aS0OE jr. t-iSHEH. Tun Vie Pr14ijt,
JOSEM! . BUWN, 6sond Vlc Prwldant.
6, Sm. Tttts aiil Triut Ctiittt.
New York Bond Sales
.tXOOO Al Gold ev Gi Bet Anj
n.1i0 Amer Agr dli f,..., 113
28nouq Anglo-Krrnch St DA
;rontM) Am i'orflgn Pec r,.i..li
70'Jil Amer Smelt Sec Ua.i.lot)
n nun Amor il cic n...... in
00 conv iB
r Co -iVm 0X4
on Ken 4a...., UilH
Trann H I, in, H
Co I.lnc. lat Vi;t
Tl rlt
OOll iin rnnv 4m ......4.lno:
,-tJOno rti cvt HHa, ..IK
1S7000 Armour Co 4ttii...,. ox
zutju itcniaon n
20(iil Alrh Trani
mill, A,l.n I'n f
miuo Halt & Ohio ZVi ...... Avi
vooo iiosi ,.,....,... ,.looS
Howl rto ev 4V4a... IMS
14000 Pr Itftn Tr na,iui8..1oU
louo llran On Klv lat 8i 101.,
2(P0o) can Oov Ba 1021 imSi
40O(iH do 1U31 .. ..... UU'i
.Iimiu CH.(lna A IJloe fia... UHV
l()0(i(i Cent leather lt.na...ioa
20011 Cent l'ae lat 4a.... hh
niiuii i ni 11 11 i 1 ua...."
3C000 Chill Copper 7a .,...124,,
MHiO Clira ft (inio 4ia..., tMVh
17(100 do .conv ISa ....... 02
201)0 Chi ut Weat 4a .... (I1IU
l(Hini) CM k Nwn an .... Nl
8000 C II ft Q Joint 4a .... OH,.
0000 Chi M & Bt V cv tUa limti
Btmiii Chi 11 1 ft 1' na.... r,ii
211(10 Con Una conv (la ..122T
jowl Cumljerlnnd Tel fn im
2000 Del ft Hud rfd -I ... Dili
3000 ncn A 11 o rid na..., or.,
I211110 den F.-c deli Ca I01S
loon iiud ft nan rrd r.i.... iu"i
TAW. PIAA.
i noU miji
! MS ut.
K I'lW .BIS
ions 100s
01., I'SW
02'4 OJH
BOM f 'J 4
0lI Wk
jS .ll'JH
1i Jsjfe
lrHiVi looii
iHliiHI III Htecl deb t .....III. OlS 11J
1.100(1 Indiana Klrel fn ,,..U)1 102H 102S
1111
123U
Sljt
luou
r.n
122i
SSB
10k
lSt
ml
011H
iiS3
123T4
OJJi'
flo'i
St
1)7
lllllii
mi
122'
HIlH
2
104H
l"li
(lllllll Inlerl, Met 4. a 73U
10(1(1(1 lnlcrb H T ret ,f.a. ..Of.,
1HI000 inter Mer St cv Uia.Km'J
SSnoiM) do w I Oa 08
40(iii Inter Nav Ob... lull. .
lfimu ,arka uteel na inn.. OIH
Kino I.k Hit deli 4a lli'.'S., Jir,
1 01)011 I.K Hh deb 4a lUdl., 1I4U
30(10 I.l & M T na till.
2000 ilex 1'et Co Ha 1 1 r
lmioi) do Hi Ser A ,.,...110
linn) do Her : 1'"..
200(1 Mont l'ower Ca .07t4
liiiiofl N V Air Ilrnko rvt Ua.lloiii
41000 N Y C ft Iiud Oa 1J2.,
iniHiu do 4 ihiH
3(10(1 do mil 4l H2.'4
111(10 N V C ft II lid 44a.,. !)2i
ri(Kll) N Y City 4a 1IIM Illd'a
10(111 do 4H Nov 1037.. I"".,
2000 N Y Dock 4a 71W
loooo N Y N It ft. II tl 111;.
400O N Y nwy mlj r.a r.7'fi
12000 N Y Tel Ren 4,iB.... 07J
liiuiio Nor I'an nrlur 4a.... Utrt
liioo Oro Short t.lno na..lllil.,
looo riro Hwy ft N con 4a... Uljl
7000 l'ncltlc Tel.Jla lll.Jji
4000 l'enna 4a lots DliH
Kino do gen rt 4(4n. .. .101
lMioii Pa 4a 11)00 rn 4',a. ..llll.
2(100 Public Herv N J 6a.. Ulti
looo Hemline pen 4 in;4
jodon Kt i. ft h r aoj w i.ciy.
10(10 Houth Hell Ca 101,
fiiiflii South P.10 rdl la... K4
17IKKI Houth Hwy iten 4a. ...70S
2O0O nSuth Hwy con fia ....loo;.
inoil Tnoa Co cv Oa I11IJS
2000 Third Ao ret 4a Hlti
100(1 IT H Govt 3a mil''
J.'Oiill U H Htecl a t Ca. .. .HllJ'
l!0(j( Vn. Hwy fin in!
2O0II Wnlinah 2il r.s UN
7n(10 "Wnh.P T lat et 4a.... 1
loooo Weat Md lat 4a fl7',i
ROOD Weat 10 ft M cv C8..12II
4000 West Union 414 a .... US.,
1000 Wheeling ft L I! 4a . . 73'4
7.1
in4;
100' i
1)74
lm
IK
o.
.I)1'4
)0Hi
110
110
l'.
I)7"4
7a
IIS
10'l
07t4
SvS
,
101.
11R
11(1
l'i
0714
Hon n:t
J 11 112t4
no no
2'4 K2'4
li.'J Il2j4
liioH nmti
id'i
71H
111;,
07J4
Ulti
ion
1)1 H
101 i
vv
111',
71
111;.
I)7'i
111.
10(1
H 1
ioi;
mi..
llll3 KI15S
Kllit 101
Dl lll
n.-.'i ir.'t
bh!4 ki'
loi. loi,,
WlW Wl4
704 7()'4
100 KIO'l
lllljl lOIN
I lUHJa 1IKIJ
5 ldlW 1(I3)
i OHK OhW
UH'A IW'4
r,74 r,7U
I'JII 1211
1)4'4 04
7JV4 73
tM'i
WHEAT PRICES END
AT HIGHER LEVELS
September Leads the Advance.
Outside Cities Report High
Premiums for Cash Article
CHICAGO, Sept. C. After showlns heavi
ness for n time, following strength In the
early trailing, tho wheat market turned
firmer nnd closed higher today.
September was tho leader at tho out
set, advancing 2c beforo a. trado was made.
Outsldo cities reported high premiums bid
for tho cash article, the host on tho crop
to date. Sales for export In tho last 21
hours wcro 1,000,000 bushels. Tho up
turn brought a lot of realizing nnd values
declined to below yesterday's close.
Later covering Inducod by a statement
by tho 1'rlco Current to tho effect that tho
weather in tho winter belt wns too dry for
plowing and rcporta of further takings by
foreigners rallied tho market sharply.
In sympathy with the rise hero yesterday
tho market at Liverpool Is strong.
Tho vis. bio supply In tho United Stntcs
nccording to Dradstrcct's Is 011,754,000 bush
els, an Increase of 2.7G1.000 bushels for the
week and compares with 12,670,000 bushels
last year.
I .ratline futurea ranged as follows:
Wheat . YesMay'a
, Open. High. Low. Close. cloae.
Sept... 1.03 1.B.1 1.5054 tl.r,2i 1.B1
Dec... 1.BH4 1.B414 1.02,, tl.B4,, 1.B2W
May... l.MI l.fill 1.B3V4 U.C3V4 l.t3.
Corn (now delivery)
Hept... SS'i xS'i. SB RSJ4 RS ,
Dec. . .. 70 , 7(l'l 7511 70$ 7BK
Mny. .. 7o'4 7UU 78!i 7014 70(4
Sept".."!"" 47'i 47H 47., 47'4 4fli
Dec... 611 BO 40?1 40. 40M
May... B2T4 B2I4 B2U C2H 6214
"Lard
Sept... 11.00 14.00 14.B2 11.(15 14. B1
Oct.... 14.55 14.57 14.CO 14. B5 14.82
Jan.... 14.17 14.17 14.12 14.1S 14.12
lllba
Sept... 14. BR 14.05 14.B5 14.05 '1I.B7
Oct... til. 3D 14.35 14.30 14,30 14.30
Jan.. 13.20 13.20 13.12 -13.10 13.15
Sep". .27.80 '27.75 27.75
Oct.... 27.07 27.20 20.00 27.0(1 20.0(1
Dec . . 27.07 t21.1)0 21.07
Uld. tAiked.
BATES FOK MONEY
Call. , TIma.
New Tork rr 2 W8H 2,, ffl3
PhllnUclpliU ..,; 4 4 85,,
Hoaton ., . VHYf
Chlcino 11V504 ,4 4
Commercial paper, threo to alx montna, Fnlla
delpbla, 4Vi tf4V4 per cent.
BANK CLEABINGS
Hank clearlnua today compared with corrc
pondlM day la.ttwo W.
Philadelphia.. 14.1.502.780 125,50(1.717 I21.iiiio.481
Honton ..... 31.017. 1 21.1S'S.21-. 10.322.112
New York . .551,823,480 S52.523.03U 170.823.001
Organized
1807
Howard W. Lewis
Ji President
lo Edward Stotesbury Lewis
W Cashier
m G. II. Millett
'Tfl Assistant Cashier
John Schlagle
Assistant Cashier
Farmers and Mechanics
National Bank
427 Chestnut Street
J.,
WSM R
i
The National City
.. Company
wl Laa taken over the
Wj Bond Department of
The National City Bank
of New York
and purchased the LiuineM of
N. W. Halsey & Co.
Dealer in InTeatment Sccuritie
The haelneM of the combined
organization! will be continued br
TheNationalGly
Company
II Chtitnut St, 55 Walt Bt,
Philadelphia New York
NO RESPONSE BY CURB
TO 'CHANGE ACTIVITY
Advances Recorded in ' n Few
Stocks Movements Gen
erally Unimportant
NHW TOIUC, Spt. ft. The Curb mar
ket failed to follow tho lend of tho Now
York Stock Exchange In today's active
trading. There were ndvnnccs In somo
etocltB, but price movements wcro gener
ally without Importance, nnd It was com
mented on that thero had been no Increase
In outoldo speculative Interest.
Mldvnle Steel was nbout the most prom
inent feature, moving up 1 point to G.1i,
nnd a gain of 1 point was made In Sub
marine. It sold at SOW.
American International Corporation, which
according to current gossip, has ncqulred
control of International Mercantile Marine,
moved up 1 point to 4415. Somo of tho In
dependent oil stocks were nctlvc.
Metropolian Petroleum, which rose 1
point to IB ',4, was at n new high level for
tho present movement with n marked In
crease In activity. The buying was based
on Btatemcnts from n Mexican manager
of the company, who has Just arrhed from
Tamplco, reportlhg stable political condi
tions, with gratifying progress on the pipe
line work nnd willing operations.
.Sinclair Oil moved up from 3Di to 40,,4,
and Cosden & Co. ranged from 15H to 15.
United Verde, with an advance of over
2 points to 39U, made a new high record,
1NDUSTMA.L3
riiii,,
Aetna Explo1vea 10
Am llrlt Mfu 12
Am Mnrconl .... ,n'
Canadian Car Co 40
Can Cnr Fdy pfcl.... 05
Chevrolet Motors , 107
Curtis Aeroplane ....
l)rl?Kn8en1i
Umeraon Phonograph .
lfaakell fc Darker Car
l!int!en Mfc
Kathodlon llronzo
Mnxlm Munitions
Manhattan Trana
Mldvnlo Hteel ...
fill. l-!tiitmtnf. ...
rcerlcta Motors 23H
J'OOlO
pref.
Id
2t
14
nil.
W
H H KrpBffO w 1
Htnndnnl Motors
Htroml)pr
lituu Motors
Hutimnrlnp .....
TrllTlKln Film
unuou Aiotora
I'nltcil I'roflt RImrlntf
u n ij nna ii com. .
ilo prrf
Vhlt rotors
World I'llm
Mil
'MS
07
37.
CO
-4ii
Aakecl.
lOTa
20
,
Ml
7(1
20O
2!l
7(1.,
aW
JH
n!i
0.1(4
(IS
24
k
4.1
,f
C3
K
Ti
STANDAIID Olfj STOCKS.
llllnol 17(1
Ohio 23H
l'ralrlu i'ln-i 2IR
Hlnnd.ird Oil of Callfornil 27.",
Klandaril Oil of New Jersey 010
Standard Oil o( New York 210
OTltnil Oil STOCKS.
Coarten OH 12,
Coadon Co lo'l
Inter Petrol Ill
llouatnn oil IK
Mldweat IteOnlnx CO
tiapulpa ltcllnlnir ti
MINI.VU STOCKS.
Atlanta 0',4
llutto Copper ft Kino n
junto New York 1 '.4
Cerro do 1'naro 3r,
I'lrat National 4
Klorenco .,. 4T,
OoldOold Meritcr 7
Hccla .Mlnlnu 4T.
Howe Hound 5U
Jim llutler M
Jumlio Kxtenston 41
McKlnley-DarraKh OK
Mnirma Copper jo1
Mlnea Co or America
N'lnlialnir Klines Co
Mnn To v ... ............ . 1t!
St Joseph I.end inVt
Weat Ind Conaolldated 7L
IIOND3.
Cerro do Fasco Oa 1".,
llrltlsh Ha OhTi
Midvalo Steel Oa 0,-i
lluaslan 0',4b looiii
C3'
17R
21(1
217
27K
022
221
1211
ir,
KiU
in
30.,
,4',J
O.t
.,
fit
4.T
f!()
I 'I
Id
ini
73
113
00
lir.4
100U
FOUEIGN EXCHANGE
NEW YORK, Sept. C Tho feature of tho
foreign exchange market In the first hour
of business today was another new low
record for relchsmarks. Checks declined to
C8H nnd cables to C8. Tho low record
yesterUny was 03 for cables. Sterling this
morning held steady and French exchango
showed Increasing firmness. On the other
hand Vienna, Scandinavian kroner nnd
Dutch exchange were easier. Even at the
low thero were no bids for relchsmarks.
Quotations were: Demand sterling 4.75s!!,
cables 4.76 7-16; frano. cables 6.88H, checks
6.88 ; lire cables 6.4GU. checks 6.47 ; Swiss
cables 5.28, checks 5.29H : Vienna cables
12.10, checks 12.05 ; kroner cables 28.25,
checks 28.10; peseta cables 20.23, checks
u.iu; guilders enmes sw;, cnccits iu;i;
Sales in Philadelphia
ltjh
D1W
Tw.
101T4
87H
19
ffftVi
sJH
7BT
21
80H
0V4
1
SO
nH
17
tW
ROM,
eiH
toy
75
78M
42H
jam
87
70
XSU
37
84
11
ftOH
SSVt
87H
30
Net
etme.
H
BW
-ri
1
Vt
V
nun
0
tSVt
to
20V4
70
17
nu, v
coy, -f- W
81H
10
70H 1
7SU
78W 1
4W
Dayn . .
88V4 '1W
3H
oV.
joy
79
loo Am Smelt io
80 Anao Cop, 87
RO Am Ixico. 79
BO Bald Loco. 83
10 llrlt! J O. S7
too Crucible St 84
to Cal Petrol l
so Col Pftlr BOH
100 Clco Stor, eb
its RrlA ..... 37 tt
800 Gen Asph. 80
100 Insplr Cop KS
20 lnt Paper. 17
el Ins Co N AJOVi
loo In M&M ct 806
loo Kenna Cop Sl'A
421 Lk Sup Cor 10
no Lack Steel 70
48 Lch Nav. . 7B
ISO Lch Val ..7804
n T. V Tr llf. itU.
7 Mlnchlll ..11294 lli !
100 Mcx Pet.. 112 112 HJ fK
(170 Nev Cons. 21 21 2194
37(1 Penna 11 It 88
10 Pa Salt M. 08W
lit Phlla Kleo 28
SS PUT... 20',ft
2183 do tr clfs 20
at I'hlla Trno 70
8tq Heading... 107 108 107
430 Ton Bel... 4
21.1 Union Trno 45
232 Un O Imp. 88
D77 V a Steel. 100
loo West Kleo. 80
10 War Ir& S 0
20 Wcilmor C 71
loo Cramp & S 80
IlONDS.
ii iuii.
82200 Am G&n Ds 00
1000 City 4b '43.101
2000 do c p.. 101
1000 do reg ..101
1800 i:&P Tr 4s 80
200(1 Hdla Kl 6al07
1000 1, V 1st 53.103
1000 do gen reg
4fl ... 87
1000 do Cons i
'.Un'M.lOltt 101 101
1000 Pa Co gen
41&S ...101 101 101
2000 Phlla Co
cons 53.. R7 87 87
12300 Ph Elcc 4s Slli 84 81
6H00 do Bb ...104 101 10S
1000 S-Am I 68.102 102 102
Decrease. Increase.
. .
3
4
45
88
100
eo
-
71 ...
80 2
1
i
4
44
88
00
60
0
71
80
Net
T.nw. ClnSG. ChRO.
08 0B
101 101
101 101
101 101
80 80
107 107
103 103
87
87
Local Bid and Ashed
Todav
Hid. Aaked.
Burt & Suan t c
do pref to..
Ilrlll J U
Hnldwln
Klcc storaro ..
rn npaf (I'.IM
Keyatono Telephone .. )
Io 1 c 13!
.,.. n. . OM
I.nko Superior dorp .. loK
I.ehlBli Navigation ... 7M4
LehlKh volley . . . .
lyehlun Valley Tron
uo prct
renna "Sif
1'hlla i:icc :a
l'hlla Co 80
do 6 licr cent prd,,.. 37
do 11 per cent pfd.... 40
P It T t o 20
Iteadlnir 10(1,
Ton IIcl 4J1
Ton Mln OH
Un Trnc 44U
U O I ..88
II S sttel 100V1
York liwv 13
do pret 37
Wra Cramp t c 70
is
Tron .. 204
lip
b
Yeaterday
Hid. Aaked.
ni on in
07 (ill B7
3H . 37 40
H24 NO HltYt
OU(4 OB., 00
30 , 20J4 30.,
ooi on OflM.
14 13i 14U
14 13 14(4
00 08 . 00.,
H w v&
43 42K 4.1
r.1 na. no.,
2S 2S 2H
201 30 40
30 . 37.. 30..
4I)V4 atlVi 40W
20K 20 JOj-5
lOOVi 105., 105i
ifi 4J4
a oh r,
45 . 4lk 45..
MM'A 7'i H8tt
K 08'i 0S
111 14
37 3714
77 79
1001
37'W
80
LIVE STOCK QUOTATIONS
CHICAGO, Sept. 0 HOOS Ilccelpta, 11,000,
Mnrkot Oc higher. Mixed nnd butchers'. JlO.W
11.43: cood heavy. 10.10Q11.30! rough heavy,
S10,10(h0 30; light, llo.OOQill.GO; plg, 10.00
OO.nili hullc, 10.03011.20. , .
CATTX.B Itccclpta. 12.000. Jlarketa Btrontr,
iric higher. IlecveB. J7ll.no; cowa and helfera,
J3.S38S0.II0: atoekera and feedera, J4.H.1 7.85;
Texana.. J7..10WH.(,0; calves. 18.75012.75. .
SIIKEP ltecelpts, 10,000. Market atefldy.
Native nnd western. IO.SOOi7.83: lambs, J 8.00
10.00.
rubles, 321 and 33.
i . lit,,
Sugar Futures Arc Steadier
NEW YORK, Sept. 6 Tho market for
sugar futures was steadier at tho opening
today, duo to a readjustment in prices of
refined sugar, and first sales on tho ex
change were unchanged to an advance of
7 points. Sales on tho call were 750 tons.
THE - "
Pennsylvania Company
For Insurances on Lives and Granting Annuities. "'
TRUST- AND SAFE DEPOSIT COMPANY ''
Broad Street Office,
Chestnut and Juniper Streets.
S17 Chestnut Street,
Philadelphia.
'At the close of business August 31. 1916 '
RESOURCES
Cash on Hand and in Bank $C,664,49G.40
Loans upon Collateral 23,455,621.74
Investment Securities 5,112,988.50
Reserve Fund for the Protection of "Cash Bal
ances in Trust Accounts" 5,791,102.90
Real Estate 933,235.00
Interest Accrued 341,821.89
Miscellaneous Assets 09.C0C.53
h
XK
i, Surp
V Undl
Capital Stock
Surplus Fund
rjaw - $42,398,872.96 r
LIABILITIES . 'm
-"V
!
?2,000,000.00
4.500.000.00
Undivided Profits 832,962.32
Deposits 34,835,663.85
Interest Payable 226,315.66
Miscellaneous Liabilities 3,931.13
W"SW$rt'Sw $42,398,872.90
TRUST DEPARTMENT
Trust Funds ?214,182,149.28
Corporate Trusts 263,216,800,71
C. S. W. PACKARD,
President.
C. S. NEWHALL,
Treasurer.
September Investment
Suggestions
Our September Investment Ci&ular is ready for
'distribution, and will be delivered w application.
In addition to the display agLmany attractive
Bonds, the circular continues our series of explanation
pi uuimmtr pnxases win a Driei discussion oi
.iJWAJ
The Investment Return
Edward B.Smith &Co
Established 1892.
BANKERS
Member New York and Philadtlphia Stock Exehangu
1411 Chestnut Street Philadelphia
ff 80 Pins Street New Yoek
WHILE TRADING IS NOT ACTIVE HERE
' STOCK PRICES ARE GENERALLY HIGHER
Activity About Evenly Divided Between Local and AvhU i
trage Issues Street Interested in Meeting of Elec
tric Storage Battery Directors
Early In tho day there was ft fratttrm.l
mova upward In Philadelphia. Electrics, h,.
thla was lost before noon. Phlladein),i.
Itaiild Transit trust ccrtldcates ImproV.J '
allghtly over the closing prlco of yesterd
On tho other hand, Union Traction sold on
a. half. Headlnjr, following tho lead of N
York, sold up moro than a point
In the afternoon sudden actlTltv A.i
oped In llapld Transit trust certlllactM
nearly 2000 shaf.es having changed hanVt
before 2 o'clock, the best price showln
gain of Vf At tho ramo time. 100 tMh,
of Crattp trust certificates Bold at SO urS i
points. "
While there was generally a moro opti
mistic feeling In the financial district today,
brought about largely by the continued up
ward move In the New York market, trad
ing on tho Philadelphia Stock Exchange was
not active, Trading was about evenly
divided between local and Arbitrage stocks,
but most of tho business was done In the
arbitrage group, as far as the number of
shares of stocks which changed hands was
concerned.
Prlco movements were for tho most part
only fractional, but they were generally on
tho side of advances. As Is customary In
tho local market, United Stales Steel com
mon was the center of Interest, moving up
nbout n point early In the first hour, at one
time touching 100 W, a new, top mark.
It was only necessary for a few shares
of Electric Stofdg6 Battery to como out In
order to advance the price n. half. The
company's directors meet In New York to
day, and some time ngo there was talk
of an Increased dividend nt this meeting.
This was baBcd on the fact that It is known
that the company's earnings havo been good
nnd that there has been some expansion
In tho properties.
LOCAL MINING STOCKS
TONOrAII STOCKS
Hid. Atktrl.
Jim nutter , ,84 .SO
MncNamara. .Ufi .on
MliltvAJ- 18 .20
Mlipnh Extension . ,,. 18 ,20
Monlnnit ., , ,24 .211
North Htflr Id .20
Tonopah liclmont ,,. 4
Tonocnh Eitenslon ,,,. Mi
Tonorah Mining Rtt
Itcucuo Rula 211 .'11
"Wcit End 73 .74
aor.nriKLD stocks
Atlanta ,.....' JO .11
Jllllo Mull ,. ,CJ ,03
ilooth til ,ll
IJullJoB- pi .02
COl) GX .01
Combination Fmetlon on .on
Dlamondneld 11 11 , .03 .03
Daisy ,i ...,,,. .02 .04
Florence SO .nn
(lolcineM Caniolidattd ........ .77 ,70
Uoldnold Morarr .,... .07 .08
Jumbo Extenalon 42 .44
ICewAnaft lo .11
Oro 04 ,01
Handstorm Kendall 04 .On
Bllvcr l'lck 17 .10
MISCELLANEOUS
Arizona United 33 ,38
(iypy Quoen .18 .in
Novarta Hill IK .20
Nevada Wonder 2.0.1 2.10
Tecopn. Mining- 10 .15
BAR SILVER
In London bar sliver today was quoted at
321.4, a gain of .
Commercial bar silver was quoted in New
York today at 68Ua, a gain of Uc.
The Popularity of
Public Utility
Investments
is the result of the num
crous and exacting tests
they have been subject
cd to during good and
bad business conditions.
The stability, market
and liberal yield of Pub
lic Utility investments
justify the ever-increasing
confidence placed in
them by conservative in
vestors. Write for circular No.
427 which describes a
good type of Public
Utility Bond.
William P. Bonbright & Co., Inc.
it iirtnni ct tfiQft t dmnt .
Manacer
437 Chestnut St., Philadelphia
New Torlc Doiton Detroit
London Farts
William P. Donbrlsht & Co. Bonbrlsht Co.
fiAZIER 6 Gx
INVESTMENT BANKERS
Broad and Satusom Sts.
International Mercantile Marine Company
(Intenialional Naviaation Compasy)
NOTICE OF ABANDONMENT OF PLAN OF REORGANIZATION OATEO
AUGUST 3, 1915, AND OF THE ADOPTION OF A NEW PLAN
To Ilia IToIdtra of
Certlncatea of Deposit of The New York Truit Company ni Dtpoiltary s
nnd lta Accntl, luncd under tlie certain Depoalt Agreement, dated
October 2, 1014, for lour and One-IInlf 1'er Cent. Mortgage nnd Collateral
Truet Gold Honda of International Mercantile Marine Company! and
Certificates of Deposit of the Fidelity Trust Company ae Depositary and
Its Agents, Issued under the certain Depoalt Agreement, dated November
1. 10H. for Tlrst Mortgage (linking Fund Five l'er Cent. Gold Bonds of
International Navigation Company (now International Mercantile Marine
Company) t and
Certificates of Deposit of The New York Trust Company at Depositary
nna Its Agents, Issued under the certain nan nnd Agreement of reor- ,
sanitation, dated August 8, IBIS, for preferred nnd common stock, or
Stock Trust CertlOcatei In respect thereof, of International Mercantile
Marine Company.
All of sold Deposited Bonds, Stock, and Stock Trust Certificates are now
held bjr the Committee under the Flan and Agreement of Iteorgnnlsatlon
or International Mercantile Marine Company, dated August 8, 1015 1 and
To the Holders of
Undeposlted Four nnd One-IInif Per Cent. Mortgage and Collateral
Trust tlold Bonda of International Marine Company nd
First Mortgage Sinking Fund Five Ter Cent. Oold Bonds of Interna
tlonol Navigation Company (now International Mercantile Marine
Company! t
..,rNtlcoJ8 herc.u3r Blvon that tho Plan of Itooruanlzatlon dated Auffust J,
1915, has been abandoned, and In place thereof this Committee has ap
proved and adopted a New Plan for tho readjustment of tho debt of Inter
national Mercantile Marino Company (hereinafter termed Marine Company),
which Now Plan has been propared nnd adopted by tho committees repre
eentlnar respectively tho preferred stock nnd tho common stock of the
Marine Company. A copy of tho New Plan has been or will be filed with
tho Depositaries and their Agents acting under said Agreement, dated
August 3, 1616, and noUco of tho filing thereof Is hereby given by publica
tion aa provided by said Agreement, dated August 3, 1916. All holders of
Certificates of Deposit who do not, within ten days after tho last publica
tion of Bald notice, notify In writing the Depositary or its Agents issuing
such Certificates of Dcposjt, that they d6 not assent to said New Plan
will bo deemed to have assented to said New Plan, and will be bound
thereby as fully and effectually oa if they had personally, individually,
and affirmatively assented thereto. Prior to tho expiration of said period,
non-assenting depositors may surrender their respective Certificates of
Deposit, to the Depositary or lta Agont issuing tho same, nnd may with
draw the securities represented thereby upon tho payment of their share
of the expenses of the Commltteo to dato of withdrawal as apportioned
by the Committee, which has been fixed by tho Commltteo at Ono Per
Cent., viz.: Ten Dollars for each One Thousand Dollar bond and One Dollar
per share for each share of preferred or common stock, or Stock Trust
Certificate in respect thereof withdrawn.
Holders of the First Mortgage Sinking Fund Five Per Cent. Gold
Bonds of International Navigation Company (now International Mercantile
Marino Company), and of tho Four nnd One-Half Per Cent. Mortgage and
Collateral Tiust Gold Bonds of International Mercantile Marino Company
who have not already deposited their bonds with this Committee, may
obtain the benefits and advantages of tho said New Plan by depositing
their bonds, together with all unpaid coupons, with tho respective De
positaries of to Committee designated for that purpose, or their Agents,
on or before September 15, 1916.
This Commltteo will not receive further Deposits of Stock or Stock
Trust Certificates.
Copies of the Committee's circular containing full details of the New
Kan may be obtained, from the Secretaries or Depositaries of the Committee.
Dated, New York, August 28, 1918.
iy
DErOSITABfES AND THEIH AdENTS
For Four and
cent, iiorti
era! Trust uo
Ona-Hatf Vr
taaaa ana couai
Oold Sonds.
For First
runa
JjocOi,
st Mcjrtrar Siskin
Firs Per Cent, Soli
THE NEW YORK THUBT COSIPANT. Depositary,
20 Droaa Street. New York Cltr.
UND TITLB TRUST COMPANT, Agent.
I'hlladelphla, Pa,
OXTN, MILLS. CURRIB A CO.. Agent.
87 Lombard Street. London, EniUnJ.
PIDEUTT TRUST COMPANT. Depositary.
, Philadelphia. Pa. '
BANKER 8 TRUST COMPANY. Agent.
It Wall Street, New York City.
FTOBUTY TITLE k. TRUST COMPANY. Agent.
Pittsburgh, Pa.
' THE NEW YORK TRUST COMPANY, Depositary,
.v prupu oiivi n.w lurjt wtv.
Tor Pr.f.rr.a t Common Stock ) "DDUTY TnuCOMMNYAgent
Stock Trust Certificates,
ADOLPH BOISSnVAIN & CO.. Agent.
Amsterdam, Holland.
QLYN, MILLS. CURRIB CO.. Agsnt. , ,
6T Lombard Street, London. England,
Secretaries f
C. E. llAYDOCK.
ik. 3 Droad street.
US- New York Ctty.
CT" I, IIOMER ATHERTON,
12ft Chestnut fitrt,
Philadelphia. Pa.
irnnvnrnrvn
UOBQAN,'
'.T.HB. P,
is as a
'k EABLE.
CounssL
OTTO T. BANNABD,
ANDUEW J. MILLER,
FBEDEHIOU M. H1UPMAN,
SIDNEY F. TVLKU.
ALUKItT II. wiaaiN,
L. Q. MYKKS,
WILLIAM 1 OEST.
T. DeWITT OUYLKK,
SAMUEL F. HOUSTON,
CHARLES D. NORTON.
OEOllOE S. BUEtVSTEB,
BENJAMIN THAW,
Committee.
Brown Brothers & Co.
" Foimril AND ClIESlTVUT STnEETS i
PHILADELPHIA
1 1 II I . I
Commercial Letters of Credit
For financing purchuca of merchandise In the United
States and abroad, issued la Dollars, Sterling and Franc.
fc