r-i 'iiipaiiywpuwg" P'.yfjiypiiiitli".J.J "liimH
- rvrmrnmtm&m
u
EVENING DEDaBIt-PHILABELPinA, THTTRBDAY, JANTTAHY 1917
IK ft -1.-
If r
L1 v n
WOs.
-"HK:''V
m
(J It th BtwV Murkct n.
0 tf you hava nvr fad an
" account with a broker
f It you are not familiar
" with ,th U of tollateral
MeurUjr
(f If you do not know th
- fundamentals of trading In
itockff
then you should read an
interesting and instructive
booklet just published, en
titled "How to Open
an Account
and
General Rules for Trading"
This booklet will prove
of interest to the old in
vestor, as well as to the
man-who has little knowl
edge of market trading.
Send for it.
Ask for 823-T. U.
JONES & BAKER
. stock iinoKtsns
Wiacner Bldg., Philadelphia
mil. TValnnt 1(1901.
Krrtm, IUCe 2S90.
yp-n York Hoatoti
Chi en co Pittsburgh
Direct Print! Trim
JOXKS A BA.RBR,
Widener Bldg., rhitadelptila. Fa.
You may and mo a copy of your book
let "How to Opn an Account and Gen
eral Itulea of Tradlnc," 8I3-T. U.
Vom .
Addrtst
Cllu ...
The American Gas Co.
6 Gold Bonds
Yielding 6
The American Gas Co. is
well known to rrytny investors
in Philadelphia. It operates
gas and electric properties in
50 cities and towns in the East
and Middle West, and a large
part of the gas and electric
business in the suburbs of
Philadelphia.
Gross earnings are showing
steady and pronounced in
creases. Applicable earnings
for year ended June 30. 1916,
were more than AY2 times in
terest charges on this issue.
Circular on request.
WilliamP. Bonbright & Co., Inc.
II amnoie iirivin crnniln . II
iunni. ivioinn wi.wwi wit
llanazar
437 Chestnut St., Philadelphia
Kw Tort Baitaa Detroit
landon rarli
William P. Bonbrlaht & Co. Bonbrlibt A C.
Bonds With The
Best Records
Some of the Government,
Municipal and Corporation
Bonds .of the kind ex
perience indicates are the
most conservative are now
providing satisfactory in
come returns.
Requests for data regard
ing bonds of this character
will receive our careful at
tention. I1ANKKKS
(Established 163?)
321 Chestnut St., Philadelphia
FUUburth
Boston
Chicago
Wtlkes-narra
Reading;
P?una. Tax Refunded
6
First Mortgage
Bonds
Earnings about five
times amount required
for interest charges.
.Listed on the New
York Stock Exchange,
Price 101 and accrued
interest
MnS lor itterlptivt Circular L tt$
A. B. Leach & Co,
Investment Securities
115 South Fourth Street
Hew Twlc Cbtcaxo
Bustoo VosuSoo. Eat.
Bunala
Balllmor
FINANCIAL NEWS 1
1.KQAU ADVKKTlSEJIHKTS
KSTATB OF OJTQ SCIl.lETTI-K. DK-
.al LLLera ItalnrnaBfnrr u fha
be aauta bavins been iraaiwn iu uaii.r
sijii.il. tt isrnss ImJeWad te ttw Mill U1
r rjjiit.rto wk pursuiii. wl IkoM bavlw
BBJBSKIvJ85fflaiSiVaf: w
M. W far Ucant and AjcA sis.. Itstla.
Tkiwir.tM. sm-. , ,
, r R fii,. IKtcaA anil einmt.
BEARS GATHER IN LEADING STOCKS
AND WAIT FOR SUBSTANTIAL SUPPLY
Difficulty Experienced in Getting Accommodation in Loan
Crowd, With Brooklyn Rapid Transit and New
Haven at Premium Many Good Gains
High Points in Today's Financial News
Broker found difficulty in harrowing stocks in loan crowd in Wall street,
paying premiums on Vrooklyn Rapid Transit and New Haven. Gains of mora
than one to three points in various issues. Trading on Curb brisk. Com
mission house selling brought about easy tone in wheat market. Firm tone in
cotton on better buying. Marks improved in foreign exchange market. Price
of bar silver unchanged. U. S. Steel Corporation advanced price of structural
steel. Many extra dividends declared.
NEW YOHK, Jan. 25.
One of thnlntcrcatlns featurer nf tlio stock mnrket trading today was the
manner In which brokers representing recently nctlvo bear Interests were gath
ered In the leading stocks waiting tor some one to como along with a substan
tial supply. Outside of a few special Issuos orders were scant. Tho situation
was clearly shown when United States Steel common, In which thero has beon
borrowing on an extensive scalo. loaned today at 2 per cent, the same na other
leading stocks. Tho rule has been that t'nllcd States Steel common, with Its
6,000,000 shares, would not bo loaned within much less than 1 point of tho
regular list.
Rrooklyn Rapid Transit and Now Haven could hardly bo borrowed without
paying n premium for their use. Theso conditions made the situation of tho -short
Interest ono of tho most Important factors In tho market. Defaults have,
been made for some days past In delivering stocks which It had been found
hard to borrow.
Some bull points were In circulation on United Stntes Steel common at tho
opening and that stock was easily lifted from 113i to 11-1. Montana Power,
without any bullish effort, -osn from JOS to 103 nnd gains ranging from 1
to 3 points wcro made In various other Issues. Kenctlons occurred after these
sharp advances, but this was natural in view of the narrowing down of the
speculative Interest. Long Island had u sharp reaction after advancing lo
ITU. nnd heaviness was shown In the Marine stocks and Maxwell Motors.
Thero was on nctlvo demand for various classes of securities In the bond
crowd, with International Mercantile Marino Cs ndvancing from 94? to 95',i,
and Illinois Stool 4s moved up from 03 to 93?. Anglo-French. Cs continued to
rango from 93 to 92TA.
TRADING BRISK ON NEW YORK CURB;
LOW-PRICED COPPER STOCKS LEAD
X13W YORK, Jan. 23.
There was good, brisk trading in many Issues on tho Broad Street Curb
today, with many of tho low-priced copper slocks responding to news of good
developments, especially in the Jerome district, with vigorous buying. Dundeo
Arizona attracted most attention because of continued accumulation following
the news of tho strike made yesterday. Sales of the stock during the greater
part of the day ranged from 2 to 2i.
Calumet and Jerome, an adjacent property, was also in good demand, selling
around 2. Thero was good buying also of Soncca Copper, In which tho
I-cwlsohns hold controlling Interest, on Information that theso Interests are
arranging for extension by taking titlo and obtaining options on other good
producing property in tho Lake district.
Tho oil stocks, ns a group, showed a strength, with Osage advancing from
9 to the new high record of 9. Uoyal Dutch advanced from GC'i to G7&
and International Petroleum rose from 13V4 to 14s.
Bethlehem Steel ranged from 136 to 133. Tho rights were traded In at
36,i to 34. Hock Island new stock sold at 38?s to 39U. Aetna Kxploslvt
ndvanced from 3 to 4. Submarine declined from 21 to 21. MIdvalo Steel
sold at B9 to 60.
Motor stocks wore weak, with United Motor dropping from 45 to 44 nnd
Chevrolet declining from 123 to 120.
INDUSTHIAI.S
Tis. clos.
Hid. Asked. (Salo)
-1 4
r, is
4
13S
33
55
Aetna Explosives
American British Mfg ..
American Writing Taper
Hothlehem Steel
Bethlehem Steel rights.
Canadian Car & Fdy . .
Canadian Car & Fdy prcf fid
. ISKi
. :)'.
.lis
. IS
, Iff
. UH
. 30
. l'A
, "3
i'A
. s
. .18
4'4
13B
3(1
35
1(1
13
S
13.1
8.1
SS
12
40
43
30
-m
3n
t
133
33
Carwcn Steel
Charcoal Iron
Chevrolet Motors
Cramp Shipbuilding ...
Curtlss Aeroplane ....
Kmerson Phonograph
Federal Dyestuff
Haskell & Barker Car
Hendce Manufacturing
Kathodton Bronze pref
Laurel Oil & Gas
Lima Locomotive new
Maxim Munitions
MIdvalo Steel
New York Shipbuilding
Otis Klevator
Peerless Motors
Poole Engine
Scrlpps-Booth
S S Kresge w I
Santa Ceo Ha
.Santa Cecilia prcf v. - -
Standard Motors
St. Joseph Lead
Steel Alloys
Submarine
Triangle Film
Todd Shipyards
United Sugar
United Alloy Steel
United States Steamship
United Slotors
World Film
Wrlght-Martln Aircraft.
Zinc Concentrating
Il.VIMlOAWS
nnik island common ... 3.4
Bock Island A pref ""i
Rock Island B pref .
Western Pacific w I
Western Pacific pref
Wabash Plttsburgn
Wabash Pitts pref
STANDARD OIL STOCKS
rntnol 313 !1H
Ohio sa3
Pralrla Pipe 333
Stand Oil of California. .400
Stand Oil of New Jersey. s
Stand Oil of New York. .388
1"
4J'.4
RH
33
o
30
12
3B'i
68
0
175i
S'l
31
3
S3
33
ftO',
5
11'.',
. v
13
4
1".V
33
S3
SR--J4
3
nou
43
3
30
US
13
28
on
fl',4
1H
0
21V4
3
85
33 H
31', a
514
4494
I
13
4U
3')
88
13 VI
33
AD
33
31
13
131
42
B8
80
9
21
SU
83
3.1 Vi
61
8-y,
44)i
13
4',s
saw
88
1304
308
340
403
ISO
381
281
I.NDKPKSDB.VT Oil. STOCKS
TeK. rlose.
Hid. Asked. (Sale)
ft 3V,
14
17
014
14 "4
I4A
1 Vi
a
14
20
10
13
0
07
013
my,
01
00.
10'Vi
13
08
11
03
08
Harnett Oil ft Gas ..
Cosden Oil & Gas . . .
Cosden & Co
Federal Oil
Inter Petroleum
Houston Oil
Mcrrltt Oil
Oklahoma Prod & ft.
Osage Hominy
Itoyal Dutch
Sequoyah
Sapulpa Refining . . .
Sinclair
Midwest
MIXINO STOCKS
Alaska Standard . .
Atlanta
Blc Lcdce
Blsbee Copper (a proup.)
Butte Copper and JSlnc.
Butte New ork
Calumet & Jerome . . .
Cerro do Pasco
Consolidated Arizona .
Dundee Arizona
First National .......
Florence Goldfield
Golrtflold Consolidated
Goldflold Merger
Green Monster
Hecla Mining
Howe Sound
Independence Lead ...
Jim Butler
Jumbo Extension
Kewanas
MoKinley-Darragh ...
Magma Copper
Mines Co. of America. .
Nevada Wonder
Nlplssing
Ray Hercules
San Toy
Seneca Copper
Tonopah Extension . . .
West End Consolidated
White Oak
HO.V11S
Cudahy 5s
Cerro de Pasco Oa
Cosden R Co 6s
French Municipal 6s . . .
MIdvalo Steel 6s
Russian S'.ia
Russian S'is
Sinclair Oil 03
Todd Shipyard 6s
Western Pacific new 5s.
Un K new 5-yr 5'Js 1-yr ooi ao
L'n IC new 5-yr 5is 2-yr 09 09
U. S. Rubber new 5a 96 OOfc,
2V
14
10Ti
3
13
l'Vl
13
0
00
2
It
01-74
. ft K
. 14 13 13
. aw n
.) 1 1 US.
. ton 11 ii
. iv4 in -
. 2 2 2
. 38 38 38
.. 2 2 2,,
. 2 y
. s, sn --
.20 24
. 03 00 61
. fi 8 7
. IU 2 Ml
. 7U 8 8
. 714 1
.13 17
. 7 70 73
. 31 83 31
. 18 20 14
. 13 .12 30
. 49 30 19
. 2 2U -
.2 2 -
. S',4 8
. 4i)i 4-n 44
. 1,1 17
. 13 13 13
.4 1 4,',
.07 70
. 2-J4 3 ..
IS
. 99 1)9 0n
.11.1 118
.107 108 108
. 90 U7U -.
. 9n 07
r 07 08 ..
. 89 8U?4 89
.111 113 112
.101 102 . .
. 01 l)t
00
80
.MONEY-LENDING HATES
NKW YOIlK There was no change in
tho time money market today, sixty days,
ninety days and four months being quoted
at 2?i3 per- cent, nd five and six
months at 33ti. There apparently was
no greater demand for funds than has
existed in the Immediate past, notwith
standing the slightly Increased activity
in the stock market. Domestic accept
ances were quoted at 2!i29i, and Im
port and export bills were quoted at 2!ti
2H-
Call money was Hi per cent for lend
ing and 2 per cent for renewing.
PIIII.AIJKLPIIIA Call. SVj per cent.
Time, 3H4H Per cent. Commercial paper,
thres to six months, ZV,Qt per cent.
FOREIGN EXCHANGE -
NEW YORK, Jan. 25. The feature of
the foreign exchange market this morning
was a betterment In quotations for marks,
lira and ruble, particularly the first men
tioned. Otherwise tho market was dull and
uninteresting with a comparatlvly small
volume of businetw being transacted.
Quotations follow:
Demand sterling 4.75 13-16, cables
Frano ehecks 6.S4K. cables 6.8JH.
Mark checks 69. cables 69H
Lire cheeks 7.13. cables 7.12.
Swiss checks 5.02, cables 5.01U
Vlenna checks 11.05, cablea 11.98.
peseta ebecka 21 20. cables 21.36.
UuUder checks 40 13-16. less 1-16, cable
40. less t-l.
Ruble checks 28.65. cables 28.75.
Kroner chesks 29-65. checks 29.70.
Financial Briefs
BANK CLEARINGS
Hank clurlBO tdr wsiBrj with eorrs-
w ".ft r
IWi4elm. s.746;:
&OIMiBST
,,, lurSi njn
t"?,rrr ':;
IS -.
IBIS
Mx Tk.
Boston
"SM fi&7
. ti.vs
AWHttVfiH
The New York Suhtreasury gained $2,
134.000 from the banks yesterday, making
a cash net gain since Friday of 12,321,000.
The Bank of Commerce announces the
election of Jacob Netter as an additional
vice president of the institution.
The total Income for the quarter ended
December 31 for the International Nickel
Company aggregated J4,932,047. a gain of
$1,324,775. Net receipts were l, 501, 017, an
Increase of 1,077.901.
Clold to the amount of $300,000 wfs with
drawn from Jhe ,New York Subtreasury
today for shfpment to Cuba.
Howard L. Goodhart, a member of P. J.
Goodhart j Co., of New York and Cincin
nati, has sold his membership in the Pitts
burgh Stock Exchange to Louis V. Sterling
for $3600.
The New York Stock Exchange has
stricken from the list Wheeling and Lake
Erie Railroad common first and second pre
ferred stocks. At the meeting of the Gov
ernors of the Exchange, Robert R. Atter
bury was elected to fill the unexpired term
of James H. Wainwrlght, who recently re
signed. Ernest Q. Roebeck also resigned.
The New York Curb Market Association
has listed and admitted to trading these
securities: The- Page Detroit Motorcar
Company's 200.000 common sbares and
150.000 serial preferred shares, both of a
par value of J 10. with, the Equitable Trust
Company as transfer agent apd the Cen
tral Trust Company as the registrar; the
Snaa Copper Corporation's 390.04)0 shares
of no par talue, with the Bankars' Trut
Company as transfer agent and the; Central
Trut Company aj tilt registrar. -v .
New Ybrk Stock Sales
Lew.
un
Net
rios ehge.
40W 2
Illsh.
Am Can 49
do pref tlfl-ii 109 110
Am Car & Fdy... 03 7n 68
do prcf ,,118
Am Cotton Oil... 30
Am Hide & L pref 71
Am Loco
Advance Rum . . .
AJ.ix Rubher ....
Alaska Gold Mines
Alaska Juneiu . . .
Allls Chalmers . . .
do pfd
Am Ag Chem
Am 11 Sugar
Am Malt .........
do pref . .
Am Smelling
do pref . . .
do pref It . .
Am Sugar . .
do prcf . . .
Am Steel Fdy
118
30
70
77
17
70
9
7
21
83
02n
03
7
48
109 ioin ion
117 110 110
. . 08 08
..112 112
,.121 121 121
. . oin oo oon
n
78
mi
80
n'f,
1
28
81
02 n
04
7
49
118
BO
71
71
17
70 2
0 -I-
7
28
83
s an
01
7
40
08
112
''
'
'ii
Am Tel and Tel ..128 127 121
1
Am Woolen pref. Don
Am Writ I'np pref 40
Am 5.lnc 4o
dn pref 11
Anaconda Cop... 84
Asso Oil 13
ooy,
40
38
10
83
13
10.1
oon
14
118
on
1
oon 'A
40 .
2
1
1
4 13
23 123 123 I
8 un 78
07
40
28
00
101
80
01)
fidf-i
30 V
101
o.in
13
DO
133
38
73
40
sjn
23
r.su
47
-t-
33
47
Atchison 100
do pref ....... oon
At R & All 10
At G & W 1 120
Bald LoCo 33
Halt ft Ohio .... 8tn
do pref 73
Beth Steel ISO
do pref
Brook R T
Burns Bros
Butte & Superior
California Pet .
do prcf 03',
Canadian Paclflo .102
Central Leather . . 00
do prcf 113 113
Chandler Mol ...101
'hes & Ohio isn
chl Great W 13
chl Mil & St P... 01
do tu-ef 12.1
Chl & North W ..122 122
Cont Can 88 88
Cont Ins
Cluett Pf-abod;-Col
Gas & Ht
c R I & P t p
Chill Copper . .
Chlno Copper .
Col Fuel & Iron
Consol Gas . . .
Corn Products
do pref . . . .
Crucible Steel
Cuba Cnne Sugar. 30
do mef 91
Dfere & Co pref. KM) 00U 100
Drlggs-Seabury .. 30 30 30
Den ft Rio rir .. 14 ion
do prof 3 1 If, 34
Distillers' Secur.. 29 87
Diamond Match .130 120
Erie 33',', 31
do 1st prof ion 10
do 2d prof UK 3B
Gas W & Wig 31 33n
General i:ioc 109 109
General Motor ...12.1 131U
do prof 1U
Goodrich Co o
Granby Consol . . . son
Gt North prcf 117
Gt Nor Ore ctfs. . 30',
Gulf State Steel.. 127
Havana Eire .
Illinois Central
Inspiration Con
Int Agr Corp .
do prcf ....
Int Hnrv Cor N .1.123
do pref 121
Interhoro Con prcf 09
Intcrnat Paper . . 47n
do pref 103
Int Nickel 42U
Int Mor Mar 33
do pref 89
Jewel Tea 71
Kenne Cop 40
Lnckaw Steel .... 83
Lch Valley 78
Long Island ...... 47
2
40
71
81
13
lno
oon
10
118
. V4
8 in
1.1
ISO 3
38
73
41
32
2.1
33
47
132 132 132
23n 23 23
103 103
03 01
19
0 I
07 n
no -4 1
28 1
00 1
102
80 n
113
101 -
o.in
13
01 J- Vn
133
122 ..
88
38
73
43
32
03 4- 1,4
01
so
01
It
31
29
1.10
32
ion
38
33 n Vi
J, 1
-t-'
Vi
1011
122
ni7i
oon
son
117
30
01
39
can
117
30
99 99 00
0.1 103 I o.in
87
10
12
38
1 0
12
38
10 Vi
12
4 1
1
-. n
4-1 Vi
n
if.
M
4 1
4-1
120 120 iu
121
0!)
to
102
12
31
80
70
4.1
8.1
78
43
Louisville A Nash. 132
I
on
47
103
42
31
87
70
40
8,14
13
44 1
I- U
4
4-
U
1
-1
4 n
4- Vi
130. 13i
87 Vi 87
33 83 Vi
7 1
38 38
103 101
90 00
4 1 'i 4 I n
33 33
00
100 107
4-1
118 118 118 4-
101 101 101 4- 14
43
137:
27T
138 137 137
80
71
08
80
08
43 Vi
R9V4
71
108V
101 Vi 103
.1
I
1
4-2VH
4-
4 3
Macltay Co 87 Vi
Mnx Motors 87
do 1st pref ... 72
do 2d prof 38 Vi
Mex Petrol 104
do pref 90
Miami C011 42
Mo Pao w 1 33 Vi
Mo Kan & Tex. ... 9
Montana Power ..100 100 107 4-3
Nat Cloak & Suit. 81 81 81
do prcf Ill HI HI
Nat Enamollng .. 33n 31 33 Vi n
do pref 00 1)0 1)0 3
Nat Lead pref 113 113 US Vi
Nevada 'Jon .... 24 ffc 21 21
N Y Air Brake
N Y Central . .
N Y N II & H
X Y O & W . .
Xorf & Wcbl . . .
do nref
North American
North Pacific .
Owens Hot Mhch.101
Ohio Cities Gas .113 III
Pacific Mall 23 2:1
Pacific Tel nnd Tel 31 34 Vi
Pere Marquette w 1 33-n 32 ',4
do pref .; 73 73
Pcnna R R 57 80
Phlla Co 4 1 4 1 14
Pittsburgh Coal t c .10 48
Pressed Steel Car. 81 80
Rwy Steel Springs (is 81
Ray Con.i 27 Vi
Reading 101
do 1st prer 4 1 4 1
do 2d pref 41 41
Rep Iron & Steel. 80 10
do pref 101 Vi 104 Vi
Shat Copper S7 27
Senb Air Line . . ion 10
Sear.) Roebuck ..337 331
Southern Pacific. 07 U 97
Southern Rwy .. 31 31
do pref 8Vi 08
Standard Milling. 100 looTi
do pref 00 00
St L ft Fran 23 33 ',37;, -t-
Studebalter 109 107 108
Texas Co ,231 330 307i 1U
Texas Pao R R .. 17 17 17 Vi
Tobacco Prod ... 50 SO 80 4-
Tol St L & W.t CO 8 0 Va
Trans & Wil Corp 40 40 40
l'n Bag & P Pf. ..11 IUTh U3 4- Vi
Unit Cigar Stores.. 102 101 101 H-
United Fruit 133 183 133
Union Pacific UlVi 114 144 Vi
do pref 85 81Ti 8174 Vi
USCU'&P.... iSli 23 S3 1
U S.lndl Alcohol.. .130 123 123 1
IBVi 13
II
33
31 4-814
33
73 Vi
80
41
40
80
33
4- Vi
4-
4-1
101 101
4 Hi
41 4-1
70 4- Vi
10 Hi
37
10
33 Hi
07
3 Hi .i
08 Vi
100
00
237i
4- Ti
4
4-
U .? Realty 13
Un Rwy Inv 0
U S Rubber .... 00
do 1st pref -.110
U S Smelters -.01
U S Steel 111 113 111
0
60
0.
00 4-
110 110 ii
03 01 4-
1
.131
do pref
Utah Copper
Utah Sec ...
Va Car Chem -13
Wabash IS
do pfd A S49i
131 121
108 100 107 3
4 23 33 4- Vi
43
IS
84
43
IS
sin
Welte Fargo 103 10&V4 lOSVi
62
Vi
23
21
31
WJ
.
4- Vi
4- Vi
U
8SVi
20
31
8 Hi
38 Vi
113 148. Vi
25 fl
83 ,J..,
83 4-
33
02
West Elec 33
do rights
West Maryland .. 2Vi
Wheel & L E w i. 31
White Motor 61
Willys-Overland... 30
WYwlworth 149
Worth Pump 25
do pfd B 63
Wilson Co- 02 14
Es dividend Brown Stuw gmnpany prejer
red. Hi per cot.
, Sugar Future's Lower
NEW YORK, JV- 25. The market for
ugar futures opsnVd quit? active today,
with a fair volume of liquidation lit the
near positions, first pric being 9 points
lower on January and generally 2 to 5
poinU lower on other months. Wall Btreet
sold freely with som covering by leading
trad Interests. Sentiment was rather
nervous due to the unsettled condition lu
raw sugar, where alu (xmtiuued to b
buyers' favor. Sales oa the call were about
2599 tuns.
I New York Bond Sales j
120000
60111)
. 23000
In 2.100
40000
8000
2081100
.101)
21000
nooo
L'OIHMI
4000
1 0000
820011
110(10
4000
1000
28000
21(100
63001)
ROOD
10000
USOOO
-onoo
J80UH
15000
1000
dooo
20110
loooo
loon
21000
24000
1000
20000
1000
loooo
looo
7000
1000
13000
noooo
7000
10IMJ
111000
loooo
17000
3.1000
20000
3000
2000
noooo
10000
7000
3500
r.000
loooo
10000
21000
3000
nooo
com)
nooo
3000
(lOIIII
4 "In ill
liooo
1 100O
a iooo
lAMOO
lono
21100
1IIOII
2!inim
7000
2IIOO
L'non
.-ono
loooo
4 HOOD
200(1
dOOO
1000
1 3000
100(111
Hnoil
180OII
10000
4000
0000
DIIUIIO
10IIO
anon
.1000
r.ooo
nonn
jono
limn
630011
C.ltllllO
nncinli
i'iOIIO
',11110
1000
hllOO
2000
r,:ioi)o
111111)11
12000
1000
1 2000
1000
Mion
MIOH
10000
2000
.-,11110
Moon
filll'l)
22000
1(1110
r.Ooo
:101m
0000
liOIMI
S(.i mil
40011
S270OU
111! II III
2000
2(100
24000
1 .- 1 1 1 1 1 1
22(100
MIIIU
110IIII
2T000
4000
soon
nmi 1
.oon
1(11111
111011
onoo
BOOH
-.(lull
2000
27000
2:1000
loooo
21100
2.oon
HIOIIO
20000
02000
UIIIOO
Minn
noon
20IKI
141000
-.(1(111
1000
anooii
1S0OO
JllSh
Albany A Sum 3',4. ..,,
Atncr Acr deb Rs . . . l044
Amer Cot Oil Ss 07V
Anslo-Frenrh 3s 0.1S
Am Foreign Sec 89. . H7;
Atncr Tel ell 49 82V
do 01 ..1ot
Amtv lee 09. 00J4
Amer Writ Part 69. . . JSji
Ann Arbor 49 78Mi
Armour ro 4'is l
Atchlnon sen 4 ... . Kfl.1,
do ndj 49 SSJt
do IV 49 IU110 '"2i
ii;.
A 1: Line 1st 49
do rlt 49 SJ's
tirj ill. in ......
Halt A rihto 3(i9
no 09
do 49 ,
do rv 44 9
11 A O Swn 34 s . ..
llelh Ptenl rM 39 , .
Ilrkn Rn Tr 89 1018
Can (lovt in 1021. ..
do 39 1020
do 69 1031
C C (! L'nlro 4s
Cal (1.19 ft KIT 39. . ,
Cnt l.cnth let 09
Cent Vnr 1st Is
rent Hit N J 69
I'hlll Conner 79.....
Ch9 & Ohio cv 44 9,
do 44s
do fnnv 69
Chl A Alton 34 9
Chl ft V.ittl til r.a . . . .
chl a Krio 19( 39 .,
Chl (It West 49
Chl ft Nwn t 49 . ,
do Ben I
Chl II ft 11 Joint 49..
do mn 49
Chic Has ft Coke 69
Chl M ft St P dlv 49,
do rM 449
do rnnv 69
do 49 1028
do rv I '4
v:
aw.
. .11)1
. . oik
. . wis
. . o.i'j
..102
..101,
..Kin I
. . 1104
. . 1 00
. . 87
. .JlioVi
. .1024
. . 03
. .IKOU
13ll'i
n
na'
til's
3.1
III) ,
IDS',
7.1U
074
Fi
lm's 11114
loajii
04J4
074
107
11.V
101 i in
1)1,4 0
on'i n
.MS ."
ioi4 in
loot 10
mo , lo
uoj n
on'i In
do nn 449.. 10li
Chl ll I ft 1' rfd Is
do 39 nn sla
do 19
Cnl ft Smith 14 R
City of t'nflfl Us.
Chl ft West Ihd Cs.. .
Hen A lllo Or 49
do rfd Os
ti"trrjlt t'nlled 44s.
1)19 Serur Corp 89. . .
llrlo ronv 4.4 ser A . . .
do prior 49
(Jen Wee dob '
Hudson Co Gn9 69 .
Hud ft M'in rtd 69 .
Ill Hlerd dell 4",".. .
Ill CVntrnl 49. 1053..
Inierb ilel 14 s .
Interti It T ref 89 . .
Inier Mer .Mnr On
Inter I'nper 81 .
Jnn new O M 44 s
do 44'
K c VI S ft M 49 . .
Kan City So 1st 9 .
no f,9
7114
; m1
. 87
. OSS
.101
. 844
. 074
. 834
. 08U
ll?.
. ksj;
.10(14
.1034
. OH.
. na's
?!!
in8.
1184
loo
. si
814
. '.84
71
00
K C K 1, ft P 09.1H07 110
ko Steel 69 102.1.
I.k Hh 1W1 49 11128..
do del) 89 1031
t.eh VhI of N V 14a .
do rona 44 a
I.orlllard 7s
Louis ft Nnsh 49 . . . .
Mlrh Cent d Is
Minn ft Bt L 4b
do 69 ............
Mo Knn ft T 1st 49.
do no 99
do
N Y
N Y
. V
N Y
N V
Norf
014
11119
102 ,
1014
0(4
I'lf.
6S4
00
78.
no4
Mnntnna Cent 09 12 1 A
Mo I'no 49 w I 0T
do -19 31)
Monmmi Power 6s .'"'
Nut Knstn f serlp 69.1014
Nut Tub" 69 1024
N V Air Drake rvt 09.10..4
N Y C L M .14 a SO'?
N V C ft H 34-1 . .. 8.-.J9
N V c ft H oa l'sil
do 49 0-14
ll.l 14 9 "4
N Y Chl ft SI I, dlv 49 82
v V i-tlv Ih IO.-1O ..1024
-I'A 9 .Miv ll'. 11 . 1 i".
linn H ft P S.103k
N H ft II It9 ..10.??
Ilwy lid) 09 . . . dli's
State 44 .811,,
Tel Ben 14 8 ..1004
gt west pen iis..i-vr3
Nor I'ai' prior 4a. . . .
ilo Ben .is . .
Ore ft W ll ft N Is..
I'.ir- (Ins 3a
l'enna ceo "( 14a..
do 6s
do en 14a
Public- Serv N J oa, .
Pere Murnt 89
Ui'iullnB Ken .1., -.
llipuli Culm 89 1001.
tlln llr ft W clt 4a...
do tut 49,,..,...;.
SI I. ltncliy Mt ft P oa
SI I, 1 M & S (llf 49.
St I. ft 8 V alt Hi..
do 111 6s
rid 4a Ser A
do 6a Ser 11
SI I. Swn lat Is
Sun A ft A P 1st 4;.
Seiibonrd A I. ndj 69
South Hell 8s
Sulltll Pnc cv 4s
fi rfd Is
South lUr rv 6s
South Ilwy Ben 4b. . .
do eon 8a
So Ilwy .Mem dlv 4a.
rcxiia i-ac 1 fit .
Texas l'n rv Oa
Third Ave rcf Is .
Toklo 69 ..........
Tol St I. ft W 34 s.
I'laUT ft Del S.. .
Utah I.t ft Pow 6a.
I' S Itealty r,a
It S Itublier Oa
I' 3 Steel a f 69. . .
Union Pao cv -la. . .
do rfd 4a
Vn ltwya a f 4a
U IC of (J II ft I 3a.
do 84b 10111
do 34 a 1021
Vti Itivys 6a
Va Ilwy ft Pow 6a..
Wilson ft Co Oa
Wnb-P T 1st ct 4a.
do 1st ct f Ii 4s. . .
West Kln-lrlo 6a
do rv 3s ...... . .
West Mil 1st 4a
West Union 44 a. .
I21U
12!) 4
83t!
024
ni4
6.1
, no
1084
734
074
no4
004
004
10.14
014
074
ti.iti
102
loi'l
m
W14
87
tin's
108,
814
07
83
08'i
07
88i
10(14
1034
no
Hl'i
l 1,
no 4
in 4
I no
81
SS4
7a
004
in-.'
mi'i
074
074
014
na4
no
7
on'4
1244
in?;
i-,11
100',
1014 1014
10J4 1024
1034 1034
JMI'n SII4
80
024
044
63
fll)
1084
7.14
074
nn4
nnu
1104
10.14
014
074
107.
0.14
102
ioti
774
744
80 4
87
084
10
844
07 .
834
084
' 07.
83
lonu
1014
09
n:i4
80,
ni
,034
Inn
81
884
?,
no
110
1014
07
1104
10J
10IH
o7'5
m?)
r.RVi
00
7)1
Il:l4
1214
074
1oo4
1014
1104
lists
. hi
. u.14
.101
.1014
.1074
. 024
. 114",
""(?
. 004
. 70
. 82
. SO
f 8J4
. 734
:&
. so
014
. 07 'I
.1014
. 04 ,
. 77
.1024
.101
.1014
.1004
. so
. 774
. 834
.1004
. till
. 884
.1014
.10(l,
. 03
. 04 4
. 384
. 1174
. :i74
. 07
.100
. 0.1
.1113
1 '
.' 30',
.1024
.1014
':''.f
tlO'i
1124
034
084
S2
1024
l,n..
1084
1084
.10 ?
Ml
100
1204
mi's
os4
87
0:14
101
101 'l
10-4
024
81
80
S2
73
54
ss4
80
(114
074
iyi
884
ol
1014
704
1 (124
101
iot'4
101!
so
774
Sl4
loo's
no
6.14
lo:i4
ini!4
014
014
.14
074
1174
on'i
Kill
024
10:1
1(124
lfllVk
781-,
01)4
884
ll-"
0.1'i
ns 4
H2
1024
110..
108 4
8(1
1(H)
1204
uo4
0S4
87
n:)4
nil.
mi',
107,
024
it 1 4
IH1.J
011 4
so
2'"'
8K4
Sfl
044
"II
Slife
III',
1044
7ll'.1
1024
1111
HUH
100
so
77T
814
1004
oil
n.-.4
10.14
10114
044
044
384
074
1174
004
loo
01
10.1,,
14
304
1024
1014
734
no 4
COTTON IS FIRMER
ON BETTER BUYING
Strong Spot Markets in South
and Favorable Liverpool
Cables Cause Improvement
NBW YORK. Jan. 25. Reports from tho
South of very strong spot cotton markets
and favorable cables from Liverpool caused
good buyiiiJT hero at the Mart. It was
noted that some of the Miutliern Interests,
which had been persistently bearish for
about a. week, had changed about and were
now taUlns tlrtually all options. Scattered
purchaslm; by room traders also was dis
closed. ol
Some local opeiators, liowe;r. were
Fellers, but the early supply was! meager.
(Jomnilssion houses operated op both slues,
probably (jelling a small amount on balance.
The early tone was very steady. January,
out at noon today, being down 5 points on
only ono sale, whilo other options were 1 to(
11 points net higher.
The reaction from tho opening advance
carried the nctlvo month.3 about a point
under last night's close. Liverpool was a
aoller hero on tho narrower differences.
This was the feature on the early setback,
hut the market steadied before the end
of the first hour and sold about 1- to 14
nolnls net higher after 11 o'clock.
Firmness In New Orleans and a continued
bullish average of southern spot advances
seemed, to be bringing in some fresh de
mand on the advance into new high ground
for the movement. May contracts, at 17.28.
wcro 14 points aboe te low level f the
morning nnd 4 points above the best price
of yesterday.
The market was firm late in the morning.
A few stop orders were uncovered and the
advance extended to 17.33 for May, or 18
points above lust night's close and 71 points
iibove the low level of last Monday. After
the stop orders had been executed demand
slackened and the market was quiet early
in the noon hour, with prices a shade oft
from the best
nwncjc! TOApTvjTTvrri.ci OTT PHILADELPHIA
COMPANY GAIN, W&ILE NET DECLINES
Regular Semiannual Dividend on Preferred Trading
Still Light dn Local Exchange Money Market
Continues Easy Here
Included In the news developments in
the financial district today wan the earn
ings statement of the I'hlladelphla Com
pany nnd nfllllatetl operating companies
Tor December and nine months. While
irross earnings showed n gain In all de
partments, tho net fell oft In all with the
exception of one the electric lleht and
power department. The greatest los8 in
net was In the street railway earnings,
where tho net amounted to $306,008. which
is $132,954 smaller than -In the same month
of the previous year. For the nine months
ending with December the falling oft In
net wan $114,08. bringing that Hem down
to $3,405.13!).
The gross- earnings for nil departments
Amounted tn $2.011, OJS In December, a gain
of $380,268. while the net declined $81,833
to $1,231,822. For the nine months the
groso return was $21,76.1,73. nti Increase
of $2 064,265. Net amounted to $8 868.938,
p gain nf $614,061. The regular semian
nual dividend ot $1.26 a share was de
clared in the I'hlladelphla Company pre
ferred stock, payable March 1 to stock
holders ot record February 10. Tho slock
sold up a full point in the trading on
'Change, the advance being accomplished
on 10 pharos.
Nothing of any Importance Occurred in
the dealings on the Philadelphia Stock lis
change. Huslncss was still on a diminished
scale In the whole list. While the tumovor
In Philadelphia llapld Transit trust cer
tificates was larger than yesterday the
prlco continued lo move within a narrow
range, The modified plana submitted by
tho company to tho city' yesterday- by
President Mltleti were read with Interest,
but they did not have an effect markctwlse.
Kxcepl for a brief period In the morning
tho prlco of tho certificates was it fraction
under the final of yesterday. As far ns
Activity went I'nlled States Steel common
furnished tho feature. After opening un
changed at 113i. the price advanced. In
tho remainder of the list Utile was done.
There was a fair amount of activity In
the bond division. Huntington and Broad
Top consolidated S per cents sold at 80, a
galn'of 5 points. ,
News was received here today that the
United States Court in San Francisco has
dissolved Iho Injunction obtained four
months ago In the lower courts by the
t'nlted Hallroads of San FrnnclFco prevent
ing the construction of tracks ot tho mu
nicipal street railway In lower Market street
paralleling the tracks of the United Hall
roads It was held by the court that tho city
had tho right to construct tracks and
operate extensions In any part of the city,
and that tho provision In Iho franchise of
Iho Fnlted Itnllroads that tho city could
not permit nliy other company to use the
same street occupied by the United Rail
roads for tnoro than five blocks did not '
apply lo the city.
The money market In this city continues
easy, although there is no Indication at the
moment thai rates will full further. Ilnnk
ers Mild today that rates are holding pretty
well around the level struck last week, when
the call rate was reduced to 3 ',6 per cent,
and that It Is hardly likely that nny fur--ther
lowering would take place.
January
March
Mav . . .
July.
ynt. dose. 6prn 1 1 a.m. IS m. 2 p.m.
1,1 CT lit k.11
lit RT
.' 1 11.04
. 17.15
- 17 14
lictober 10. JO
l)cmb-T 1 2' ft.
Spot 17.03
ltl rill
17.00
17.1!-'
17.111
111. 20
10.28
111. OH
17.10
17.11
10. 20
1B.07
17.18
17.lt!
16 'JS
17.10
17.27
17.:i
1G.37
Liverpool Cotton
I4VKRP0OU Jan. 25. Spot cotton to
day was quiet and 6 points higher, on the
basis of 10.74d for mid-upland. The salea
aggregated 6003 bales, including 5000 balsa
American. The Imports were 60,000 balip,
including 39.000 balea American The mar
ket for future closed very steady at a net
advance of 1217 points.
NEW YORK COFFEE MARKET
; NBW YORK, Jan. 25. The' market fsr
coffee futurw opened unchanged this morn
ing from the close of last (light. -Trading
on the call was luiet, sale being about
235.0 met.
January
l.bFuarjr ....f..
Marco.
pJ :::::::::::::::::
Today's Ytaterday'i
eneaias
8.4598.43
i'(W8.tJ-'
8 7-'SS 77
i.-S9s.e
8 376.39
M8f 8.49
s. no 32
SIHfSBS
it.mmn. u
Sales in Philadelphia
lllBll Low. Clooe.
10 Am lias ..U0V4 now nW
.12 Am Ilwys. 33 .13 ""
100 do pref. OH 0 OH
10 Bald Loco, r.1 M" "!Wi
10 Cat Pet .. SOW SIH4 20 Y,
0 Catnwlssa
1st prcf. i 1 n
4 Klcc Stor.. 07 07 07
88 Ins CoNA S7V4 'JW'
.180 I.kSupCrp 10V0 10U lO'X.
!! l.eh Nov.. HI Mi HV. "4
in T.eh Valley 7 8 VI V8W "H'ft
200 Long 1st.. 40V4 tl'j HV4
16 Mlnehlll... " "V "'-'
mo Mer & Mor .isVi :t-4 -iiv
a 1.1 Nv Cans, sill 24V4 24
SIS l'enna ll It .17 -I'lA ''''
VIS Phlla Co
cum pf. 4314 It 43V,
" 37 Phlla Klcc 31 33" i 31
103!) P II T tr
rtfs .... 33 H .13 33 M
1)1 Phlla True 831 H.VH H3'i
It) itwyo (Jen 7-1i "Vi "'i
3D Heading .loiy, 101 V I0IV,
115 do 2d pf 11 41 14
20 So Ilwy .. 3114 31 14 0H4
25 Ton Mln.. fl'.fc OVf, fl',4
2(13 Union Trac I0V4 4(1 10V4
78 L'n O Imp. 00 H0T 00
S Un C. N' J.S35 32.1 230
2,100 U S Kteel.111 1 1314 1 iV4
60 War 1 & S 9V4 0V4 0V4
MINDS
HlBh. I.nw.
$1000 Uald l.oco
1st 5s. . . 101 101
1000 Cor. Trau
N .1 5S..102V4 H'JVj
3000 lClec & Peo
Tr is .. 83i 83
2000 Ken Tine
& T 6k.. 8S 8.1
1000 Hunt Ur T
en 5s . . 80 .80
1000 Interstate
Ilwys 4s -. SSi.i SS'i
600 I.k Sup inc
4s SI SI SI
2000 Loll Nov
cons IHs.IOJTh lOJTi 102T
joonn I.chlgh Vol
cons I'.ij s
20113 101 1111 101-
3000 do. Coal 5s. 100 V4 1V4 1"0',4
iooo Nat Prop
4.6s 08 08 08
3000 I. T I'CtS
P l-J 4s.. 87 !4 87,4 87 V4
10001'enna Co '
gen 4V.-s.l01(, IOI'h lotjf,
3000 P W & B
t o Is.. OOTi 'JOTi 09Vh
iooo Phlla Co
1st &s ..102 10 J KS
nooo Heading gn
4s Ofl'j 0014 00 Vi
2000 .Schuylkill
RUSH OOTi -901!, 00-
isooo i"ii Itys t
O 4s... 13 72V 3
IflOO do Inv 5s 7214 72V4 Ti'A
S'l
ihirc.
14
1
'
14
f V
i
Vi
..
IB.
-I
( Is
Is
U
A
Net
Clo.e. chRft.
101 '.4
l03'j ',4
83J4
83 Vi
80 S
',.
Vi
Vi
-.Vi
'A
1
n
-Ti
1
Consolidated Coal to Expand
HAI.TIMOm:. Jan. 25. At a special
meeting of the stockholders (if the Consoli
dation Coal Company here today a reso
lution, recommended by the directors, In
.'reaeiiu tho authorized capital "stock from
$3U 100,500 to $45,000,000, and providing
for tho payment of a stock dividend of 6
per cent, was approved Tho dividend will
be paid on February 2.
t ,.,.. Octe "' .
V-m VnrU feertnl 71'
nvn silver
v ' - I"--.- I
.101"
1 ..
"
toi. 7.-,i -ns Tin
DIVIDENDS DECLARED
TftInr-W1mrtrtn trnn titvl SIppI Company, rf-.
ulnr ftuarltrly of 1'i vr rent on th prtiferrM
rtork, pnyahl February 1 lo stockholders or
rciont January '-'I.
!'hllfltllpn!a Wurrhou Company, 14 pr
pfil. paynbl February 1 nn reRlstererl Janu
ary -7.
(Ircno Canana Copper Company, regular t2
n sharp, payablo February 2)1 lo Btock of record
February U. This Is Hip namp as three month!
National tcaH Company, regular quarterly of
14 n-r rent on the preferred stork, payabl
March 15 to sLpck of rernrd Fpbruary i3.
J. (J. Hrlll Company, regular tiuarterly ol
1 per cent on preferred ntock. payable Febru
ary 1 na reKlatered January T2. Books close.
January 22 and reopen February 1.
Great Western Suar Company. Uual quar
tprlyof 1 pt rent on both preferred and com
tnon stork, payable April 2 to stock of record
Mnrrh t.V t
Consolidate)? rifi Company, rrculair quarterly
li pi-r rent rllvldend. S
4
A HIGH GRADE
SECURITY
NEW ORLEANS RAILWAY &. LIGHT CO.
REF. AND GENERAL LIEN 5? GOLD
DONDS. DENOMINATIONS $100. $1000.
THESE BONDS ARE IN THE OPINION
OF COUNSEL SECURED BY A MORT
GAGE LIEN ON ALL THE PROPERTIES
OF THE COMPANY.
THE PROPERTIES ARE CONSERVA
TIVELY ESTIMATED TO HAVE A
VALUE LARGELY IN EXCESS OF ITS
DONDED DEBT.
THE COMPANY CONTROLS AND OPE
RATES THE ENTIRE STREET RAIL
WAY AND GAS BUSINESS OF NEW
ORLEANS, AND A LARGE PROPORTION
OF THE ELECTRIC LIGHT.
TAX REFUND PENNA. NORMAL FED
ERAL INCOME TAX PAID.
PRICE ON APPLICATION.
EflKER, AYLING & YOUNG
LAND TITLE BUILDING
GOSTON PHILADELPHIA CHICAGO
You Have 13 Hours
to make deposits
and cash checks
if you deal with
epnblic Trust
Company
1429 Chestnut Street
Capital ii nd Surplm. $000,000.00 -
OIMIN 0 A. SI. TO 10 1 M.
ANNUAL JUXTl.NfjS
flSSr0 T!IK I)i;i.A1V.lti: DIVISION CANA1
'" f(5ll-ANV OP I'UNNSYLVANIA
Philadelphia. January ii. 1017.
The Riiminl metln7 at th. atockholdera ol
the Delnvaro Division Canal Company of Penn
aylvanla, and un flection for .Managers to aerv
for the cnftulns year, will be held at tha oftlc
of Ihe company. No. J3T t'heatnut t., .Phila
delphia. I'a.. on Tuesday, February 0, 1017. at
12 o'clock in.
HBNHV H. PEASE. Secretary.
IllltP.CTUKV OP ACCOUNTANTS
CerUBedl'uljIlc Arrountanjt
LAJVItL-'NCB 15. BItOWN &..CO.
INVnSTlUATl-J ANI ADJUBT PAUTNEK-
K11IP, JlllNT AND DIdPUTUD ACCOUNT3
WILI.IASt 13. HONTEt-IUS
1121) CHESTNUT ST.
1
UUIIN'B Ii 8PBAKHAN
TUB DOUIISU
1825 NINETY-FIRST ANNUAL STATEMENT 1917 j
OF
THE PENNSYLVANIA
FIRE INSURANCE COMPANY 1
508 and 510 Walnut Street, Philadelphia
January 1, 1917
ASSETS
Real Estate $125,000.00
Bonds and Mortgages 154,000.00
Loans on Collateral ,,,,", 38.936.10
Accrued Interest , 108,317.13
Cash in Banks and Ofiii-e 632,557.85
Premiums in Course of Collection 639,356.81
Bonds and Stocks , , , . 6,836,230,00
LIABILITIES
Capital Stock $750,000.00
Claims for Unadjusted Fire Losses 573,498.35
Accrued Taxes and Oilier Claims 85,000.00
Reserve for Term and Perpetual Insurance v ,"
in Force ; 4,766,990,29
$8,534,397,891
$6,173,488
i.25t
NET SURPLUS...., $2.3S8,9O0.25u
Surplus to Policy 1 folders 3,108,909.25
DIRECTORS
Chas. H. Barry John I.. Thomson Edwin N. Benson, J'-
rv fir1'? i.e r0n . j Wj Gardner Crowell Henry 1. Brown
Ricljard 31. Cadwalader Kdward T. Stotesbury " George McFaddea
CHAS. H. BARRY. Prpsirlnr.
EDWARD T. CAIRNS. W. GARDNER CROWELI-. Ji
Vir Prfsident & Secretary
Vice President & treasurer
WILLIAM J. DAWSON,
Assistant Scrctary.
HAMPTON L. WARSKR, 1
Assistant 5ccretaf.
&gg