p
EL.1X( LEDGER- PHILADELPHIA, MONDAY, JANUARY 29, 1917
K s&&mMv ,
12
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f
t
Ttb-i-l . i - i- r urn - ii JT n n"irTr Ti frriiriii-i r - ' - - - . , . ... ...m
The Inception
and Growth
of Standard Oil
q TMt 1, (ho tills of tfao fealnrel
article in current Issue of onr fori
hleMt- nnhlle.llAe. l,,.fm,l rim I
fertunUiei, which alro contains the!
following mhifcts'of more loan or i
oinary moment tu In tutors t
ClwMhIterfjijIlirjpliEiibM. , ...
Sort r Oil Is Ritifr 60 Sink DmirJ
riiiiNttjSlosi SVM Hit Jtmk OH .
S. 0. cl Irahcl, I. Pir IM DnriJrail
MniH CepjxT DrtUrti i $2 DimfcrJ.
Hifrtle Smri 1916 Strata (32,169,164
IJnt Ue.m.ttre WmIi, !
Tirtfil PiriMrt Sl Tilk-
CU LU sf OppwIiM Jltl Mfwi
btrrUsl Ciirterlr DmdraJ Drturituf ., ,
Q Tills number of tmeilment On:
j roriuntnef, as well sucrreulni; J
! i.Mies, tviii ne eenr free or ennrar i
iupon request for 30 PL, Including j
s booKiei eipiaimng
"Tlic Twenty Pajment Plan"
iKatahlltllfU 1003)
40 Exchange Place New Yor :
City of
Philadelphia
Interchangeable
4 Bonds
Tax Exempt in Pcnnstlvsnia
Legal investment for sav
ings bank and trust funds
in New York, Massachu
setts, Connecticut and other
States.
Eligible to secure Postal
Savings Deposits at 90 of
their pax value..
Price to yield 3.80
Tnll ptrtlfuliir rnt npon re
qncit for Circular I'K 87
The National City
Company
1421 Chestnut St., Philadelphia
New York
Boston
Chicago San Francisco
l'utsburch
DUBUQUE ELECTRIC COMPANY 5
1ST MORTGAGE GOLD DONDS.
THESE BONDS ARE AN ABSOLUTE
1ST MTQE. ON THE ENTIRE ELECTRIC
LIGHTING. POWER AND STREET RAIL.
WAY SYSTEM OF DUBUQUE, IA., AND
VICINITY.
NET EARNINGS FOR PAST YEAR
OVER TWICE THE BOND INTEREST.
THE COMPANY AGREES TO PAY THE
NORMAL FEDERAL INCOME TAX.
LEGAL INVESTMENT FOR MAINE
SAVINGS BANKS.
THE REPLACEMENT VALUE OF THE
PROPERTIES IS ESTIMATED OVER
$3,000,000,
Price 97 & Int. Yield 5.45
BAKER,. AYUNG & YOUflG
LAND TITLE BUILDING
PHlLADfcLPHIH
DOSTON CHICAGO
Bonds and Stocks Wanted
20,000 IIIrmlnEliam. l.'nslrr i llessemer BSJ
ItcrrliHs at 30
10,000 Jersey Central Tructlon Gen. Ss. 1051,
at Ul
8,000 Tnromi Kallnay & I'oucr 3s. 1029,
ut 03
10,000 Hullo, i HarrUburc Western Hit. 3
ut 1UO
6.000 CojI & Coke 5s. 1010, ut 00
10,000 Coal & Iron Si. 1020. nt OB
100 Mis. Hallo. X llurrUunrs r, I'M. at -43
100 shs. Hallo. A Cumberland Valley Kit, 7CS
at 80
HOWARD R. TAYLOR & CO.
KElbEIt I1LD(,. IIAI.TI.MOIti:. MD.
Members of Stuck Exchange
1 f CfJO DANKER9
6th &. CHESTNUT 8T8, N. E. Cor.
M.mwrs n ra. CAS cicnansre
4,irwh , w .u .,t torx
Phila. Sub. Gas & Electric
1st Refdg. Ss, F. & A., I960
REED A. MORGAN & CO.
UKSJT KM) TIU'ST 111.1)0.. 1'IHLA.
Members of the l'lilla. block Lxchanxe
III KECTOKY OV ACCOPNTANTM
CerllfleJ I'ubllo Areountanta
LAWltCNCB K. I1HOWN 1, CO.
11HOWN
IRIS HEAL CafAlB TltUST llUTLDrNn
INVKbllUATa. ANU ADJUST fAUTNEK.
HHIl'. JtllNf AND IJISl-U'lliD ACCOUNM
W1LJ.1AM
MONTEUUa
y; ciikbtnut at
SlUltNS A HPSAKMAn
uic uouiiau
NEY YORK COFFEE MARKET
NEW YOUK, Jan. 29. The market for
coffee futures opened quiet thla morning,
and 6 to 8 points lower Trailing on the
call was Inactive, sales amounting to 7S0
bass. (
The outside public and local trade Inter
ests continued to liquidate during the morn
ing and prices sagged a few points from
the Initial flgures, but the volume of busi
ness was not large.
Today's Saturday's
Ftbruary . ..... 8 Sti 8 51
March
8 108 43
80Vsi
Aunt
May . . .
JUIM . . .
July ,.
Aiwuat .
eBUtoUr
Oclobr .
NoltmUr .
8.70
'b 7 is' so
8.M
LOCAL MINING STOCKS
TONOl'AH STOCKS
OOVDiBLI) STOCKS
U 9i
llliP AS0UHD
y BHVESTfflEHT
oaai s ao
$m sai
Sw s si
i 88 '8.71
S73 'j.74
8 78' 8 77
IsS 8 81
88' 8 84
8 87
80i 8.02
Bid. Asksd.
UsKanuira 07 J)
VHla I III
SglM? KaUulea 14 .15
juStana 10 .11
MHti lur ., IS ,17
fueatw Kwta 27 ,23
oa
n
.04
.Ot
oe fi
a
n
wr7 :
aUsK'KLLAMKOUa
lVin JPEiac
TRADING IS MORE ACTIVE HERE,
BUT PRICE CHANGES A.RIJ NARROW
Western New York and Pennsylvania Advances SVa Points.
Street Hears Negotiations A.re On to Take Over Eng
lish Holdings of Lake Superior Income Fives
While Ihoto tini noma licttcrmcnt In tlin
total nt tmneiAcMMU In tho trndlliB on the
l'hlHildphla StocK HichaiiKO today, thli
ImprntPinptn did not show up to nny npprc
clnhlp extent In tho changes In prices JIcxc
menta if noarly nit Issues werr- nor a nar
row taiiKo nnil thoy rro Irrrgutnr Ono
of tho outstanding exceptions ns far as n
chjngo In prlco went, was Vostorn New
Yor hand 1'cnn.Byltanla, ti oubsldlnry of tho
l'ennjlanl.i Unllioad Tho Pennsylvania
owns $1D, 410.001 of tho JIOOTZ.TBO out
standing stoi It Western N'ew Yorlt anil
ronnsylMiiila stock wn i nulte active, the
prlco ndvnmliiK to 21'4, ii new high marls
for the lai two jcirs and ft rmln of .114
pnlnts Prom the host prlco thero was n
nnnll rrnctlim I ito lij tho nftcrnoon.
In eonsklorlng 1oriI Issuen nlono riiila-
dPtphla tlnphl Transit trust ccrtlllcalcs
ttcro the most nntlvs, moro than 3300 shnron
having changed hands by 3 o'clock Tho
prlco held nrourl tho cloning level of Hnt
urdaj llarly In the dsy there was a small
gain, hut this was wiped out In (ho nftcr
noon Tn point o' activity Philadelphia
lllectrlc slock wbh tho next most active,
but this rtoik, ton. followed n very narrow
course Tho companj'c new B per cent
bonds sold off s. ac moparcd with tho
closing price f Saturday, and tho old 4s
declined .1 points
Snmo vtry lntorestlny talk wac heard tn
tho Street today about tho nrtnlrs of tho
Lako Supeilor Porporntlon It was said
tint tho comiunv through Its principal
sut'ildlarv. Hie Aglnma Nteel I'nrinintion,
had net urcd a mtiuct from tho UnglHh
EMPEROR'S SPEECH
MAKES COTTON WEAK
Selling Pressure Results From
Militant Tone of Address.
Liverpool Buys
cotton iir.i.T nr.Tiu:u condition
MAV Kllllv. Jin. 20 Hnln rre rc
Ixirlril In the railcrn purl nt the rolloii I'rlt
IliN laorhliiir, hut rlmr ((iiiillllous imiullril
In the ue-tern rclloti
The fnllaulns triaiipr iliirp- were re
orde)l OMithom i, lit D'l Kl ami Kalilcli. Ill
Pert mllli no i Miiltne mill heillle. Hit
lvnox Hie, nil "an Vntiinlo mill llinliiBtiin.
Ob. Mm mi, AlHCIl-lil Mini Mlillltil, uH; little
tori., MimiuiIiIh, Nuliilllo. rlaiia illle ami
"ninniili, OUi xiiri-ioiMirl, ( lurlrstnn,
I ii nip i anil .l;ic kviin ll!r, fil; orpin
hrMI. (,ultPslon. VlikshnrK, l'eniiiiil i,
Moritirtiinen nntl lUriiiiiichiini, Mi Vlolillo
anil Mcrlillun mil rn tlrli ins. .s
I hern win .01 Inrh of pref Ipltullon nt
MllniliiEtiill, llj Inr'i ut ViiRtlstu, Ut llilli
ill Mm on, OH Ineli at MiK-burs, .1- laill
ut Viliuila, II I nili at liitlllr, .111 1m Ii
ut l.lttle Itni!., IK huh nl MuntKnitirr, It.
-nillli anil lllrniltiKhuni. ..'-" In ll ut UnlelKli.
i,S Inth at lnlltollHr, .7.2 Inrh ut NiinIi
vllle 1.01 Inches ut VIi rliliilii. 1 HI Indies
ut huuvillle anil 1.IH Indies ut .Niu (lr
lellls. NEW YORK, Jan 20 Celling pressure
was noted ut the opening of the cotton
market, duo to tho militant tone of the
speech of the rjernian nmperor. who. it
was expected, would give a peaceable talk
nnd tho strength In Liverpool was Ignored.
Whllo the buying was considered of a
good character, being led by prominent
room operators and some commission
houses, It ns not suHleient to absorb tho
supply, which car e from southern and
Upot Interests and commission houses
Liverpool was a buyer of May nnd
July, and uptown tradars took Ma In
fair volume The first prices wore 3 to 14
points net lnwei with tho tono easy, nnd
after the cill additional losses of S to 17
points were recorded Thoro were rallies
of several points from the lowest, how
ever and nt tho end of the first . 'teen
mlnutH prices were about nt tho Initial
flgurc'a for the ntlc positions
Tho early breuk carried the market abQut
24 to 30 points net lower on present' crop
positions, while the new crop sold 12 to
15 points under Saturduy's closing figures
Thero was liquidation by buyors of Into
last week, nnd the gossip was that some
of the larger shorts, who had covered on
the possibility of a fresh peace movo, wcro
reselling this morning
Thero was no change In tho general
character of the nows from tho South,
however, and after selling off to 17 3c for
May tho market rallied 1J or 14 points
Tho market was quiet later In tho
morning and fluctuations were nervous and
Irregular A bulge to 17 4Co for May was
barely maintained, with reactions of 7
or S points following, nnd sentiment around
the ring appeared to bo unsettled.
Sul close Open Ham
March .... 17 1 1 17 4J 17 3J
12 m. '2 p m
17 21 17.18
17.40 lT.rtl
May
Julv
IT 11.1 IT OD 17 no
17 0.1 17 48 17 40
17 ill 11150 10 00
10 lit 10 bU ....
17 60 ...
IT.BT
10.50
1732
10.13
October .
December
Spot ....
Uivcrpool Cotton
UVUnPOOL, Jan 29 Thoro was a good
Inquiry for spot cotton today nnd prices
were 23 points hlglifr. on tho basis of 11 lid
for mid-upland The tales aggregated 10,
000 bales, Including 1)000 baits American.
Tho Imports wero 10,000 bales, nil Ameri
can The market for futures closed quiet
at a net advnnco of 507 points.
NEW YORK BTJTTF.R AND EGGS
NEW M3I1K Jan 29 nUTTKH necelpts,
2011 tuba All erailes stronirer on demanO
Higher teurlns l.l'u IJ'ie, erenmarj' extra.42
U-i ireamery llriit Jl'isJll'ae, State dairy.
4Ulle
i:tliisr-celpts 2013 caae Steady, with
fulr tradini; morueo Orsts 33c: otoraso sec
onda JUitlSlc No chaiisn on other erades
Metal Prices
ryuw YORK Jar. 29, New Yok Metal
Ilxchango prices today wero as follows!
Tin spot, 45 & U 15c; lead spot, 4S.00o bid;
Pebruary, 8 00g;5c
Prime western spelter, east St. LouU,
vas olTered for prompt delivery nt llo per
pound; for Tcbruary at 10?il01so;
for March at lulOi; for first quar.
ter at 1010, nnd for second quarts;
at 10Ui0Hc
Quotations for copper metal continue un
changed, but the tone of tho market, If
an j thins, it, firmer Al-ih deliveries aro
held uy those having feecond quarter ma
terial at 30l.o per liound, with May at
30 'ic and June at 30c For spot copper
from 321if3-'lic Is said to lAvo teen
bid. .vlth February wanted nt 31?i32c.
nnd March at 311i to 3llsc. These llgures
are slightly higher, but must bo considered
merely nominal, as no transactions have
been made and early deliveries are scarce.
Reserve Banks Discount Rates
10 or
Ovr 10 Ovoe.sn n,. n
Kan
. .1
. 3
. 34
. 3Vi
up to 30 uji to 00 up to 90
Hoaton
Nw York . .
PhiUdsilphla.
Cleveland
HUJiiaand .
Atlaota ....
Chicago ....
St. LouU .
Mi nafta polls
Kanaaa City
Datla
JVa
A
4
4
4
4
4
4
V
aUn FraBohuo
3
4 4U
Boston
New York
"'.'.', t 3K IS
14 i E 3Vi
1JM
s
HI
.... A
ilniMapaJli ,. a
S:k
dAva. OKV lblrlv tn
to umtY. 4Vi per cut: over
Granulated Sugar IJnchanged
NBW YORK. Jan. ti Flna granulated
remained uacbaaged st 3 76c The last
sale of spot Cub raws was at i 89c unchanged.
Atlaita .
CUcago .
Iff 3fr
3K 3
Sc. 1 llll
m
UP (e u
nxlri or
cent, abty
S per fm.
y.
Oovernmont for tho manufacture of slcel
rnlla to lake the plnco of rnlla In Camda
which were taken up nnd chipped to franco
for tiso thero In connection with the nr.
TIipo rails were used as nldlngs nnd t.ce
ond nnd third rails on roads operating In
nil parts of Canada. This contract, It was
pointed nut, would take snmo tlmo to com
plete and would niPE.n n considerable Item
In tho oompanv's earnings
7n connection with tho advance of tho
Lake Superior S per cent lncoino bonds,
which was carried forward another point
today, It was said In this column last week
that thero wns some plan nn foot to take
over tho liiifsllsh holdings" Mora was heard
of this plan today It was said that a
representative of the Insiders, which hold
In tho neighborhood of $2 000 000 of the
Intnl of $.1,000,000, had gone to nnglnnd
to nnange with tho lingllsh holders to sell.
I ins said ha his rcprescnalvo had been
authorised tn bid up to 715 In order to get
the bonds, the plnn being to rctlro tho issue.
After these bonds nre obtained. It was
pointed out that a pioposltlon would bo
made to holders here Tho amount held
In r.ngland Is, roughly, $730,000
Cnltid rttnten si cl common did not
bulk large in tho total transactions tndnv,
as Is usually tho cas?, but tho movement In
the prlco was over n range of moro than a
point Tho estimate of tho net earnings
to be reported by tho corporation tomor
row nftcrnoon hns been lowered consider
ably In somo quarters todnv It was be-
lUvrd th it tho net earnings of tho final
cpiai lei of lnt ycir would amount to about
JjU.nno 000
BrG DROP IN WHEAT
AFTER GOOD GAINS
Sellings Grows Heavy, Although
Kaiser's Address Had Caused
Good Buying
uiivriir:!: comhtion.
M'AV or.K. I in. 20. iHlees rreelvfil
at the UenthiT Hunan till miirnlns liull
ritril (lie rollimlne ui-ithtr xnnlitlmis:
Tempon lures
lllcll Inn
i nnniinn 'varum ct
Neillmest
Mhlille IV est
s-ntitlmpHt
I Piwr Miss. V idles
I oner Miss, ulles
Ohio Vnllrs
rleir Ml. li
pipn 111 -18
ileir IK IS
clear 0 2j
pi pa in tl
Pipn 70 H
pi tin OK 12
-IIPIIIl. 7PTI!
The fnllnnlin: preilnll itlnn Mil Inrlies)
Mils rrpnrliil 01 nt Helena! Mi lit Hiiro
linil Miillilne- Hat; Ill at Mi Ifl urrent
mill llapld Cltn .12 at Miles C Its I ,14 lit
lllsinirek mi nf Miir.ilnni 01 at Inleiln
.01. ut NiHiiBllilil HI I K at Inrt Has ne
nnil .hnriiisllelil, Vint .,'1 ut s. I mils anil
( iiiiliiiull: ..111 al lalrni .III at l.tuiisillli'i
.10 lit loillslllle.
ciiifvii) .in ii " resumption of
veiling on a henvv scnle weakened tho wheat
market sharply tnda but Rome covering
rallied the prlcts fioin tho bottom There
was no spcclnl news to account for tho
drop which was preceded by considerable
strength
Adlces from nhroad over Sunday to tho
cffei t that the Kaiser had determined to
pu h the wnr vigorousb enused a great
deil of bujlng early In the session b the
piimlpal sdlers of the last three or four
weeks, nnd also aued much coveting
In pit up iris who had sold on hanniliiy.
Lnttr offerings wero quite free and tho
tono bectime foverlsb
As tho session progressed longs liqui
dated and shorts extended their lines
Thero being a general absence of bujlng
power, tho market gave wa Western
cash interests were among the selleis Out
siders appeared reluctant to take a fresh
hold on tho luijlng side, pending an Im
provement the demand for export and
relief from the rallwav congestion.
Tho visible supply statement wns bullish,
showing a deerensc of 2.170,000 bushels in
the stock n the I'nlted Suites for the week
to 49G58.000 bushels r,pnriinicK from
tho bearboard wcro heavy, and thero wns
somo apprehension ovet cold wave warn
ings Prlvnto cables reported the markit
nt Liverpool dull and easier. First quota
tions wcro tho best
May, nfter selling at $1 79a4, dropped to
$1.7013. finishing at 51 71i to $1713.
against $1 7G14, at tho close Hnturdnv July
touched Jl Bl and dropped to $1 15, closing
atSl 4Bi to $1 4BVj. compared with $1 47 13.
Saturday's last price The high on Sep
tember wns SI 39.., the low- :1 34 Ti. and tlia
closo SI 364 to 1 3514, ugnlnst Jl 30'.,. tho
final quotations of Saturday
Ijtadlns futures ninEod an fullnus.
Wheat
Saturday'o
0peB., "'ah
May ... 1 70U 1 70H
July. .. 1 111 1.01
Sept . . 1 SWj 1 39H
Corn (now delivery)
Lew,
1 70
I 41
1 31T
OSS
07U
li'.li
Clan
rlnie
1 7l"t
1 4S-U
1.33U
09H
074
53'
S3lT
1 7.1W
1.47W
1 3UV
100
99U
r.n'i
34
aiay ... i in? i nt
juiy i ini
Uats
Moy r.7.
July &3V
1 OU
67i
0SM
lird
Jan. . Ill 27
May ...10 Co
July . 10 72
ltlbs
.Ian -1102
10 3.1
10 07
11182
18 43
10 71
10 23
10.32
HI ll.'
13 33
1ft Gj
18.77
31.32
29.TT
29 60
tin 22
10 55
10 7U
13 37
10 07
13.77
10 20
10 20
10 70
tin 37
13,70
May ...IS 71
July ..13.83
Tork
Jon .'31 30
13 87
31 43
30 33
131 32 31 30
28 3 29.00
29 SO. U CO
May ...2D 03
July
HJ TO
29 70
Hid
Hid
tAiked.
TAsked. tNomlnnl.
GOVERNJIUNT BONDS
Hid, Asked,
liuH
2s iefil tcred 1030
2s coupon H30
3s reglktered 1018
33 coupon I"!'' ..,
4s resistcred 1025
4s coupon 1023
Un reslslired 1040
Ba coupon 1040,
I'anaraa 2s slstered 1010
1'nnatna L's reAistrvd 103S
!J(M
,,intZ
.100
irt
110
:::::::ln?
iu
OH
.10
:.:S38
Panama 3s reslstereil luill titH-J
1'anama n rKisicreu iuui iiil
Panama 3 coupon . .. 101
Lead Prices Advanced
OTW YOItlC, Jan. 39 American
Smelting and Ileflnlne Company has ad
vanced tho price of lead from 7lio to Sc.
IIAR SILVER
jljist 1017
Today. Sat Jinn. Hlsh lyjw.
New Tork (cents) 7HJ, 7, 70S 77 7l't
London (pence) 3'1 3J'J 37!i 37'u 8U
RAILROAD EARNINGS
COLOrtADO SOUTHHJIN
1018 Increase
Dembor erws , 11.044, RSI Jul 11)0
Nat J. 070.301 50 303
Six months' sross 0,us 5JJ 70i,utit
Ntt 3.410,800 033,414
PKLATVAIIB. IMCIvAIVANNA ani WESTEHN
pambr srou 14 2nn 210 174 0J2
Nt 1071400 S41113J
Six months gross .... soiisi son 2jinisa
Nt 8.311.203 '11)3 Oil
WABASH I'lTTSnUROH TBRM1NAL AND
WB8T blDK 11BLT
DMinbar rroM .... 1181 USO S2 718
Not 81.203 J7 Bfll
Six months pro . . . 1 083 Bin in in Hit
Nt .... . 4M.43J 37 621
buffalo. noctiBSTBR anp nrrspunnii
DtonUr vroas 11,039,418 120 St
Nt 179.177 08 48J
Surpliw 112.su I0A8T
Six wontha' gross 6.738 749 790 730
tint 1.00e,S8 38,414
Surpjua 1,03.081 163,401
Dcrai.
AVoman'a Hospital Safe Robbed
Tha poUoe of the Nineteenth and Oxford
fttrt sUUon ara looking for the thnvaa
who early yesterday morning gained en
trance Into tho office of the 'Woman's Hos
pital. 2137 North .College avenue, stole tbe
key to the.tafe from a desk and then rifled
that repository of $125 A small quantity
of Jewelry In the safe was untouched and
Dr Alico M. Seabrook head of the hos
pital staff believes that amateurs aro re
iponaiMa (or tho theft.
Sales in Philadelphia
Net
lllnh Tiw tlosf chri).
io Am fitiA . noti now now
80 Am Uys pf 07 07 07 I
1 BAHtctl8H "
0 Cal Pet ..28 27
in nice Stor ooti oflH
,13 Trie 32 .liaj
2 tth St N" H2Vi 2I1
oO Asph pf . 08 08
wn Ins Co N 279 JJli
148.1 l.k f5up C lie)', 10
130 l.ch .Vav.. B I iKt 81V
70 Leh Vnl . 78M, 77"i
2.1 Ii V Tr pf 44 41
7fl Mox Pet. oou 00
40 N'ev Cans 24a-, Hf,
370 Pcnnn It It r.l'i 1
I7.T P.-t Salt Mf 00 0.14
14 Phlla Co
cum pref 43 42 ",
2238 Phlla nice 31 34
20 P U T .. S2W 32
421.1 do.tr Cta 31 32S
71 Phlla: Trao 82, 82H
240 Ton Bel .. 4U r'
40 Ton Jtln . ah oft
410 Union Trnc 40Vt 4m,ft
mn I'm fl lirm not. 00
30 Vt
27 lift
MV Vi
sir. "ft
203 014
08
211ft
11) 'i
8116 ii
77 U
II
nov i'j
2, 1ft
37 Vi V
00
43 r- Vi
3tw n
321ft l'ft
32 "ft "ft
8214 uj
1 ....
Oft 1-10
40 '6 1ft
00', li
2nlf ti H Steel 11 !", ItiVi 1IW '
20 West nice 81 Vft 631ft fil'A
131 1 WN &P 22'ii 18 2-t4 41''a
fi War I & S 0'4 DVi
B IV J & Sen 31 fit
.1 York Iluy It 11
r, do pi of. 3714 37 li
II Vi '
31 I
14
37
IlllNllS ' 'e1
lllsli low. Closo. chge,
?2000 A O&R Rs 117 '4 07 07 14
Boon Clty4Bl04B
rcg . 10114 10114 10314
1000 dec & Poo
Tr 4b At 8C 81
Ann. I t?,olf til
Ons f.s. 103 inn ino
1
2000 Ken Trnc A
T 6s ... so 80
3000 Lk Sup Ine
6a 80 30
80
B0
ft
loooo t.ch Vnl ens
414 2003 KllVi loll'i 101!'.
5000 do cons
f.s reg
1P2.1 llOVi tifili l"Hi 14
lan Nat Prop
l-fls . fi.1 08 08
noon Phiin t:iec
new Bs
w I . ..lojaj 1011ft 102'ft Oh
1000 do 4s .. 0014 0016 1)0141
4000 Hearting gn
4s , ... OC',4 Ofift D314
2000 Itead-Jer
Cent Is 0014 0014 odVi Vi
nooo Un Uwy
Jnv Bs.. 71 71 71 1V4
FURTHER GAIN IN SURPLUS
OF LOCAL INSTITUTIONS
Sixth Successive Week to Show In-
cicasc Loans nml Itcscivcs
Also Larger
A further piling up of idle funds wns
shown In the statement of condition of tho
members nf the Philadelphia Heating Houio
Association for the last week The surplus
Increased $1137.000, bringing that Item up
to SIS.B 13 000 'I his Is the slsth succeoslvc
week that the smpliis has Increased
Loans expanded $1.90.1.000 This Is the
third week that this Item lias shown nn in
crease There was falling ofr In deposits of
52.S95.000, while tho reserves held gained
$5,062,000. Detnlls follow
Pllfereneo
prei v.el
Jan 21. 1017
.1335 r.si non
. iso.binnoo
0,111 nun
. 02 31 non
18', mn non
. 22 741 OIHI
. 132 .177 Olid
. si mi rmii
. 18 311.01111
Ilierenne
J I 0111 000
J.S'II "Oil
II) 000
1 010 HUH
3 on" nun
211 nun
3 002 nun
uj-, non
1 1.17 ooo
!,niin '
Deposits Hnd ) . ...
Clrrulatlon ....
Dun from banks
Deposit of banks
Kx ClenrlnB Iloumi
llcservp held
Ilrserved required
fiurplus
MnrnliK .1n.mi.irv 31 1010. til OSS 000. feli-
ruary 1 1011 JJ8 2S8 ono, Teliruars -' 11)11,
111 820 000, January 27. 1'iia. 113,517,000,
January 20 1012. I7.80u.000
Decrease
."MONKY-LKNDING IIATKS
i;V lOHK Tliero wns very little busi
ness in time loans on good mixed Slock Ex
change collateral and tho quotation was
unaltered at 2 14 R 2-Jj per cent for sixty days,
2a4S3 per cent ninety ilsjs to llvo months
nnd 3fj3'i per cent for sl months. In
dustrial money 3 per cent for ninety days
anil four months and 3i per cent for siv
months
Prime mercantile paper was In no better
supply nnd rates wcro soft In tendency.
Nominal quotations nre SliffS'i per cent
with exceptional tram-actions under and
abovo that level.
fall opened nt 1-H per cent
lMIILAnnr PIIIA Call, 3'i per cent.
Tlmo, S'siffl'j per cent Commercial paper,
tlirco to sis inontns JMs'U'iii per cent.
FOREIGN EXCHANGE
NEW YORK, Jan 20. Tho market for
foreign exchango opened dull and In tho
main, steady. An exception wns tho shad.
lng oft ot llro to 7.12 for cables nnd 7 1.1
for checks There was very llttlo of In
terest.
Quotations were:
Demand sterling 4. 7511, cables 4 70A :
sixty-day bills nominally 4.72'A. nlnetv.
day bills 4 70 H
Krano cables B83'6, checks 5 844
Itclchsmnrk cables 69, checks CD?J.
awiss caincs 3 ui, cnccKs & 02.
Lire cables 7.12, checks 7.13.
Vienna cables 11 12, checks 11. io
Stockholm cables 29 72, checks 29.60.
Peseta cables 21 30, checks 21.20.
Guilder cables 40T4, less f, ; checks 4013,
less ft.
Ituble3 cables 29 70, checks 28 60
DANK CLEARINGS
Hank clearings today compared with corrtj
spondinc day last two years-
1017 nio inn
Philadelphia .140 r.18 ill l.li -no son isi h't .-n
Itoston 31711880 21 J73 Ml 18 01 4:"
New York . 377.071 0S3 200 84J 0SI 20 sni.'soi
li.ililmore . 3 117,074 il oihi usi ii j Sin
Chicaeo ... 81 5U0.270 60 010 077 50JJ3.11B
Campbell Wins Congress Scat
Ouy 12 Campbell, Democrat, who tan
for Congressman from tho Thirty-second
district, which takes In a portion of Alle
gheny County, was awarded tho decision
and election over Dr Andrew J. Iwrchfeld,
Republican and sitting member, who con
tested Campbell's election on n mistake
mado In tho tally sheets Tho decision was
mads by Justice Stewart in tho Supreme
Court today.
CONDENSED STATEMENT
FIDELITY TRUST COMPANY
PHILADELPHIA
at doss of business January 26, 1917
RESOURCES
Cash in Office $1,747,928.59
Cash in Banks , , . , 8,271,258.26
lime and Call Loans 14,410,229 13
Mortgages 5,175'300!fJ0
Bonds and Stocks , , , , 20,710,367,31
Reaf Estate ...,,.,,.. 974,670.93
Accrued Interest 239,031.82
$51,528,785.94
LIABILITIES
Capital Stock ,.,..,.. $4,000,000.00
Surplus Fund , , 11,000,000.00
Undivided Profits . , 2,326,553.47
Current Incomo .).... 346,105,44
Miscellaneous , .... 52,429.15
Deposits . 33,803,697.88
$51,528,785.94
Amount of FuncTp Held in Trust. . , . $209,656,628.50
WM. P. GEST, GEO, H. KYD,
President Treasurer
PHILADELPHIA
MARKETS
GH.MN AND FLOUlt '
WHEAT lUeelpls, 60 110 hush Trade wn
OUIet nnd with Mroncly bearish spcculntlon In
tun West tirires here wcro nsnln So lower. tuo-
tfttloin ('rtrlols in eit'ort elovitor No 2 rwi.
iiu ,.-"
Sl'Ol SI hlll,MI iNO
nnulherrt rerl. 11 84BP
l nt, maimer no . ro . eAi ". ' o ,...,
18JWN1 rejected A ll 71 81, rejtcted U.
rcil 11 KJJcl 8V. No 8 red,
i oltN itecelpts 11 781 liuiheln Tho msrket
wns ouifct but lirm with llpht nfrerlnss CJuo
iRtlops. enr lots for lornl traUo. n to loca
tion .No, 2 o''ov Jl 1 1'i 1 H.H . NO. 3 jel
lon tl i-i'iiffl ;.Hi, No. 4 jolloiv. II Hi
1 Ills. Nc t ' .fljrw. 11 0S'41 DO'i southern
'oTrs tect pti" 0101 bushels The. market
ndinnted Vo u ulcr light olferliiR" nnd n fnlr
il.nnnd &.iit..lloii3 .No .' white OSWOS'ii..
utordard jvelto 'l-ffil'Hc. No .1 white, nil it
V-e, No 4 whllo iirifflci.e ssinplo oas,
'rU'im Itecelpts ?0-i bill nnd 070 111 lbs
In sacks The miirurl wns nun nnu un;
chnnueil rollowlnir nre the quotations ter Hio
lbs In wo id winter clear. 17 BOW 7 i i. do
straluht, 17 73s js do patent, is 21W8 30.
Knnim clenr cotton sicks ISW8 2j, do,
Btralsht, cotton Fnckn IS aou)8 73 do. pslenl,
cetton sacks, 18 73WU. sprinc. flrst clear 18 23
J 8 30, do, pstent, IS 73W1) 23, favorlto brands,
ioriiiwlo, city mills choice nnd fnnry nitcnt,
IU loom, city mills, regular (trades Winter,
clear 17 50W7 7.1 do straight 17 738 23.
do.. Mlent. is joti 8 30
I11U VIJQVH was quiet lull, sternly under
mail supplies We quote 17 0007 73 per bbl ,
na to qualltj -'
PROVISIONS
. The nnrkel ruled steady with a filr Jobblnu
Inquiry Inlloulnit nre the uunlntlnns City
beef, In sets siiioki il nnd nlr dried Hn western
beef, In sets, smnkul .lie city In-ef knuckles
nnd tonders, s-noked nml nlr-drled. 3c; western
bief. knucklts nnd tenders smoked, 3,'c, beef
hnlns, IJ8iP.1i), pork family, 4J1W1 1 EOs hams.
S 1'. rure.l, loose, UW10'4c. do, skinned,
loose, losriu'ic. do. di, smoked 20W20i4ci
other hams, smoked, city cured ns to brand
nnd aicrnito, 201o hnms smoked western
cured. SO'ic bulled boneless 30c, plcnla
should-rs, a P i tired loose 13c. do, smoked,
Hie. bellies. In pickle, nccord'nc to luernuo.
loose, 18c brrnkfast haeon, as to brand and
nveraite clt cured 21e, be, nkfist bicon, west
ern rured, 21c. Iird. western rcflncd tierces.
17'i.ci do, do. do tubs 17'4c Hrd, pure Ity,
kettle rendered In tierces, 174c. lard, puro
cm. i.emo leiiurrcd in tubs 17'aC.
Ri:riNi:i) sugars
,, 7nn '"srket wns quiet, but Btendy neflners'
list prlren. llxtra . Ono Krnnulited, 0 73c,
potvderul, 0 s-,0, confoctlonera' A. U 03c: soft
grades, no i,0c.
DAIRY PRODUCTS
JlCTTntt tiesirnhlo sloel: sold falrl nnd
riled lirm undi r lluhl iifrerlncs Quotations
western, frrsh snllilpnili.il ireainerj, fnniy
sped ill He exlrns U1I n. extra Orsls .loir
Die llrsls J-ICISi see mils aisTllle, nearby
T,. nofiy"x ,''r 'llernne ixtn 4141e
llrsi 3SWIUC simnds ,11110, special fanci
'rands of prliils JohhlnB nt IHlj -,lr
l.UilS The market ruled firm under a good
demand, which kept suppllei well cleaned up
CJuotntlons fullow Nearly extras 41c r
doz , nearbi llrsln 11' on iht c ise noirhy
curronl receipts 112 43 per ense western, ex
tras. lo per doz , do, extra firsts, 112 00 per
enso, do llrsls. JI2 r per raso, funej selected
candled fresh egRS wcro Jobblns nt BlOSUo per
doz
ritnuii: nrfcrlnits. wero lliihi and Urn mnr
ket ruled sieirt) with n fnl.- demand rollonlns
2 r? ,l"S-l"'lln ""ns New lork full rrenm fancy.
5n(Iv:!..,''f-Vic' j0- ,ln- fslr to Rood, held,
2l'T21c, do, pnrl skims. U21c
POULTRY
i, L'! ''. "t" '" ..fn.'.r request ami firm under
ilunt orrerliu's Inllnninir nre the quntitlnns
1 owls nn tn quvllt 2Dfl'2Je roosters HWIOe.
spring ehlc'tens soft tntoteil 2(iW2Jc, White
l.tMmrns, nceordlni; Io qimlltv lliB21c. ducks,
ns to alio nnd iinlll ri22e, turkejs 2J8
-Io, Becse lOWSJc, pleenns old pur pair, 28W
30c do joune per pair 20tP.5e
PHHHSLH Ilislruble Mm U was well rlenned
up and llrrn Inllowlni; nre the quota
tions Presh klllid dn packed fowls, I J
Io box ilrv-iiiikiil fnnej selected 21'je.
welBli nK I lha and nier uplere 2le, welch
IniT .,') ,l!,!,liPlere 22il21e WelghlUK 3 lbs
niileie .IIW21. fimls In bids fam j rtrj
plcliid welshlne 1 lbs nnd mer nphco, 234c.
sinsller sires 1SW2P old roosters, dry pleliid
lso roiit Inir hi. kens w. stern. dr pelted In
boxet wtlRhlnr Iirfui !l,s p, r nslr jswjflc.
roaatins hit kens i stern, dr plek'd In boxen
welKnlmr s lbs p, r inlr 24(2Ve roastlnir
clilckrns western In boxes wilBhlns 7 lbs
je- pilr 2Jii2V rmstliiK ebb kens western,
dry pink. d In hbls . welshlne s to io lbs per
rn,.r. , ' roistlnlt chickens, western. In bbls ,
welchhir 7 lbs rer nnlr jnff"efl h-ninn-
ehlikins westirn In boxes wilBhlnR 3W1 II19
rer pair 2l(iC.,"ie ehlrkenn welshlni; 311 lbs
iier rnlr 10j2i)e do mlied sizes, 18J0e
broilers. Jersey, fnnev SJoT.llc broilers other
resrby welchlnB I'jiftJ lbs npleee 3012e
turkejs per In I'nmy neirln JJTSIIe fanev
?J.1'T"nriWiJ': f",r '"..K00' 30B3le old
tonis .'oTr30e common 2lff?J7e ducks near-
'Y 7rv,7,!c- '1 ,"1''1'11 -,1'--'- ':c,",', "ear
l liWIUe do weslirn IRtPlSi squabs pel
tnSKsn,"tt,,,"'ll!hl!"i.11 '" 1J lbs Per dozen
I0W0 2V whllo wolRliInc 0 to 10 lbs per
dozen II21WI8I white welKliInu 8 lbs. per
dozen now I 711. .Io wslshlng 7 lbs tier
dozen. 13 10 01 mi do wclithlnt; 0JJ0V4 lbs
R.lJ ''.0ZW, S..7?,PJ- ,larlt- l-oOiS'3. sm?ll and
No. 2 GUcl 21
FIICSII FRUITS
llemand wan fair and xaluei renornlly ruled
. A..V , -.V" '." u J v.'i ,,n, unirratieu
4J 6117.1 111 wlnesnp No 1 14 BO W0 do, un
Brnderl J UDr.l ,10, npples norlhvseslern per
box II uiiwj '.11 lemons per box 2,iniijJ.
ornnces 1 Inrlds itee irnt, llrli'ltt
2,1. russet JJHi2t.il tuncerlnea. I lorld-i, per
strip, i ' liidJ.I In, crnpefrult riorlda per
ernle IJ iiiifi.tin pineapples l'lnrld i Indian
iin.ir err i rule
inr per crate IJ Jill1.! 21 erinherries, Cipe
I per bbl I'anc Into varieties J.nrr7, earlj
ik llf-, in rnnberrlps. Cnpo Cod per
in.;
Ii a
crate 12 0' J in do
erifi ciurn iht i rnie
Hi,'.'1-' "" "Bht Jersoj, llKltt per irnb
11 30. straw berni.H I lorlda per qunrt J.HJ5
VEGETABLES
Offerings were light nnd prices Kenerally ruled
Arm under a fair demsnd Quotations n hlto
imtntoes per bush lVnnslvanla thoieo 12 111
2 20 New York choice S2fa2 10 whle po
tatoes, Jersey per basket 11 iff I Jl swoct po
tatoes Lsstern Shorn per bbl No 1. Ilfti
3 23, N'o 2 II Hill J sneit potatoes Peliwaro
and Marlnnd, per hamper 11 1HQ131 sweet
potatoes. Jersey, per Inskei No I line IP 8 1
No 2. 40fel)0c. onions per 100 lb ban N'o 1.
10 73W7. No 2 llti". 10. cabbage Danish per
inn. Sill) do southern ir h miner s.'tfi sn
snlnaih Norfolk per bbl, IJ J3if)2 71 kalo,
Norfolk pr bhl . S1W1 31. eiullttower Norfolk,
nor crntn 11 ill 30, lettuce I lorlda per basket,
II BOO'J 30, do, Virginia per bssket llOil 311,
do, North ( arolina, per basket lllel 30, beans
Morlda, per basket green I2WI, wax IJ"i
3 23, eggpl uit riorld t. per box IJ 23fiT1 30
peppers. Florida, per hi x IJihvJ r.0, squash.
Florida, per box, $1 751r 2 23 pens Florida per
basket, IJWS 30, tomatoes, Florida per erato,
II 10al. mushrooms, per lib basl.ct. II 23S
LIVE STOCK QUOTATIONS
CHICAGO. Jan 2") lions Ilerelpts, 1 000
Market Bo higher Mixed mil butchers', 111 23
Qfll 7.1, good heavj. 111 304 11 80 rough hean
111 2IKP11 43, llaht. Ill 101911 S3, pigs 0 33
10 03, bulk. Ill J.lill 05
CATTLi: P.etelnts 21 ono Market steady to
strong Heaves, 17 F.i)ll on, rows nnd heifers.
14 731910 10 stoekers and feeders 0 BOBS U0.
lexans, 7 730 00. cahes, IllOU
SHHLP Itecelpts, IB 000 Market steady Na
tln and western, U23fell, lambs, 111 23if
11.13.
Plan Closer Traffic Arrangement
NRW YOItlC. Jnn 29 rians aro being
perfected involving n closo traffic arrange
ment between tho Mlnneapolls-St. Louis
nnd tho Chicago, Milwaukee and St. Paul,
tho New York Central and tho Cleveland,
Cincinnati, Chicago, St. Louis railways It
Is also understood that changes In the dl
rcctoratcs of the St Paul and Minneapolis.
St. Louis ara pending
State Dank Call Issued
Local trust companies and state banks
have been advised by the banking com
missioner at Ilarrlsburg of a call for the
report of condition of state banks and
trust companies as of January 26
n.rt.j nn iiniimi. ,1 1 .1 iter i.ii inru nn
nerlar I I Jl lien lluls 't 111 SO. Hsl.lw.
N'o 1 (.17103 31) do unuri.I. d SI'M3u
Arr,,'.,-lnBl ,No 1 . l 30i1 10. do unnrnded 1.1
&4-11, ",E8 -NX. ' ," "$ do imgridod.
Financial Briefs
Tho Interstate Commerce Commission
has suspended from February 1 and later
dates until Juno 1. 1917, certain Inrlffs of
various eastern railroads which provide for
a reduction In free-tlmo Allowance nt New
York and other Atlantic ports on export
tralllo from fifteen to five days
Tho New Tork Subtrcasury gained $181,
000 from tho banks on Saturday, making
n cash net gain since Friday of $142,000.
Weir Mitchell, recently of fr'razler ft Co,
hns become connected with tho Now York
ofJlco, of Ncwhall, Churchman & Co.
Tho shares of Iho Olobo Dominion Cop
per Company hnxo been listed on tho Now
York Curb Market Tho company wns In
corporated In Arlzons, Willi n capital of
1,GOO,000 shares par valuo $1 each, of
which 97(1,000 shares nio outstanding.
Gross sales of Scars-Itoebuck &. Co for
tho year ended December 31 wero $137,
200,802, nfter deducting allowances and dis
counts, tho net profit was $1(1,488,622, a
gain of $5,388,231 oxer tho previous vear,
and tho Rurphis was Increased $4,626,901,
lo $11,317,341
Tho December opernllng incomo of tho
Kentucky Traction nnd Terminal Company
U8B $72,072, nn Increai-o of $10G4, ns com
pared wlih December, 1113 Net for the
month decreased $1770. lo $30,SG5
Tho Now Yotk Stock ttxehnngo Ins ad
mitted to dealings Ilcthlchcm Steel Corpora
tion rights and Ametlcaii Ice Securities
rights.
DIVIDENDS DECLARED
International Hinester Compsny, regular
nusrteriy l per cent on tho preferred ntoek,
IMiahln March 1 to stock of record February 10.
-The A.l.n.lnn r.inn-n (I ah n ,-.......,.. ....
ntmrtorli of 1 per cent on tho preferred slock,
pnnblo I ebruary la to stock of record Febru
nry 1
Imperial rirhon Chaser Corporation 1 per
rent, ruivnhlo Fehrunrj 13 Hooks iloso 1 eh.
rtnrv ,1 nod renpen February 10
Ilnstoti Hleinled llnllrtny Compttn quarterly
r lll"rfr?M fs"11'!" February 1.1 to stock
or record I obruirj 8
nnnl'ieru"".??'1! v"'lr.,'s,'r. Corporation regular
quartern- or IV! per cenl on preferred stock
''W.Wi ,nclL,'0 J!toek nt reeoid. Fehruvfy in
Pittsburgh steel Company regular umrterly
Vl-irch 1 ' "" rr"l"rea stock, psinblo
Seven Sooed Reasons
for purchasing Hoovcn Automatic Typewriter Corporation's Treasury
Shares now being offered nt Nine Dollars Per Share, They present n
Splendid Invcstmcn Opportunity wilh Grcnt Speculative Possibilities
The Company ban on hand moro
rrders than It enn handle with present
facilities, therefore, this Treasury Stock
is being sold to incrrnsc production,
open new territory nnd provide largo
cash working capital.
The Company hns n monopoly on
tho world's mnrkct for mechnnlcai
nutomatic typewriters. Its patents nro
basic nnd ennnot be Infringed on They
fmve been secured in nil tho leading
nations of the world
The machine hns proven Itself, from
the largo sales during the past few
months, to be both n money nnd n
labor saving device It has Just been
awarded the highest recognition In the
mechnnlcai world by the nwnrds of
the rrnnklin Institute of Philndelphla,
which nlso recommends thnt tho City
nf Philadelphia nward tho John Scott
Legacy Medals for the development
of this machine Also by tho repeat
orders for additional machines by
users of the machine
Our offering of these shares nt $9 per share Is being rapidly taken by tho
Investment public All subscriptions must be accompanied by nt least one-third
In ensh for each shnre subscribed, tho balance payable five days after notlco
of allotment
We advise Immediate nctton cither by letter or wire, reserving a substan
tia1 block of these shares.
Trading in them will probably start on tho New York Curb Market Imme
diately, niter notlco of closing these subscriptions Applications will be sub
sequently mado to list them on the New York nnd Cleveland Stock Exchanges.
A demonstration of these machines In nclunl operation can bo seen at nny
of our offices or nt nny of the sales offices or service stations of the Company
in Doston, New York. Philadelphia, Pittsburgh, Detroit, Chicago or St. Louis.
You are invited to call and seo their wonderful work.
Scars, Roebuck & Co.
"Wc have sctcu Ilooi.cn Automatic.
Wo arc able to effect a considerable
sailno through their use."
Smith, Kline & French Co.
"Our teats on a letter that tie se-it
out to some institutions brought back
double the number of replies 10a re
ceived from a filled in letter."
Thomas A. Edison, Inc.
"Machine shows superior mechanical
construction, also permits great indi
viduality (a n Idlers urMfeii."
Colliers
"We have in our possession at the
present time the tu.0 machines orig
inalti purchased, and for the ivork.
done so far. tee have found them very
satisfactory."
Prospectus sent on request
BERGMANN & CARAHER
66 Broadway Reclo76a:0po,,.0on8al,.C862 Ncw Yo
Coif on; 60 Congress Street Philadelphia: Lafayette Building
Chicago : Westminster Building Pittsburgh: First National Bank BIdfr.
All statements herein have been obtained from reliable sources. Although wo
do not guarantee them, wo believe they are correct
1812
THE
Pennsylvania Company
For Insurances on Lives and Granting Annuities.
- TRUST AND SAFE DEPOSIT COMPANY
Broad Street Office, , 517 Chestnut Street.
Chestnut and Juniper Streets, Philadelphia,
At the Closo of Business January 2-0, 1917.
RESOURCES
Cash on Hand and in Bank..,,,,ir. ,,,., 810,166,430.93
Loans upon Collateral , , , ,,,..,. 24,237,618.20
Investment Securities ,,, 6,219,243 67
Reserve Fund for the Protection of
t, ."S8.31! Balances n Trust Accounts",, , 6,862,516.93
Real Estate ,,.,.,,,,., 933,235.00
Interest Accrued st.t ,, 140,032.87
Miscellaneous Assets ,,',., 86,518.41
, $46,625,-3'96.01
LIABILITIES
Capital Stock ,., , $2,000,000.00
Surplus Fund , , 5,000 000,00
n3,6d Prfits 401 K
h!S p'V. ' 39,101,890.63
Interest Payable ,,.. ipnfitfiR
Miscellaneous Liabilities .,.....",.... ir.'.'.. 1$W.S4
?46,625;496.01
TRUST DEPARTMENT
Prf ?i rE"8 JS ' ?220,628,706.69
Corporate Trusts , 268868471-10
C. S. W, PACKARD, a s, NEWHALL.
Psident" Treasurer.
LONDON STOCK MARKET
Trading Dull nnd UnfntcrcsHng.
Americans Lower
LONDON, .fan 29 Today's session of
the Slock nxchnngo markets was uninter
esting, trading being dull Tho undertone,
however, was firm and tho feeling con
fident on rosy prospects for tho new war
loan ,
A proportion of tho outstanding treasury
bills Is expected to bo converted Into tho
loan, If tho Government agrees to accept
It In the psvment of tho excess profits tax.
Amerlcins wero neglected nhd lower.
Pending tho announcement of further divi
dends, rvomo rails wero stagnant Cana
dians wero steady South Amerlcnn lines
received light support
Tho gllt-cdgcd section wss slow. Allied
bonds wero malhtnlned Bra7lllans wero
firm Tho statement wns reaffirmed that
tho Brazilian Oovernmont would resumo
cash payments in August
Sugar Ttilurcs Lower
NDW YOUK, Jnn 29 Trndors around
the ring In tho Sugnr Kxchango seemed to
tnko a bearish view of tho general situation,
and the fact Hint tho strike nt refineries
prevented the handling of sugar now ar
riving caused moro or lers soiling of futures,
with the market unsettled On tho call
prices wero generally 2 to 5 polnls lower,
with sales 230 tons
Initial National Clonk Dividend
NHW YORK, Jnn 29 Tho National
Cloak nnd Suit Company hns declared nn
Initial quarterly dividend of li per cent
on tho common stock Tho regulnr qunr
tcily dividend ot 134 per cent on preferred
stock wns also declared Tho common
dividend Is panblo April 14 Sales for
.oar cnilcd December 31. 1916, wcro $21,
E54,231, ngalnst $17,371,600 previous year
Net profits for the jear wcro $2,041,05,1
ns compared with $1,006,3,17 previous year.
, Haitian American Preferred on Sale
Hanking houses nro offering $3,500,000
ot 7 per rent cumulatlvn convertible pie
fcrred stock of (ho Haitian-American C01
poiatlon for the h tullo.ito which under
wrote the securities of tho orgniilmtlnn
Tho corporation owns and opornlos rail
roads, public utilities nnd sugar proportion
In the republic of Haiti. Banks making the
offering nro i;rvln & Co , of this c,ltj , I'
W Chapmsn ft Co, of Now York, nnd
Chicago, nnd Breed, Klllot and Hairlson,
of Chicago. Cincinnati nnd Indianapolis
The DIrcctornte of the Company Is
without question ono of unusual
strength nnd guarantees able and suc
cessful mnnngement
The original Interests have vindi
cated their fnlth In tho CompnnyVi
future by taking stock for their nctual
money Investment nnd property This
stock la tied up nnd ennnot be sold.
Reliable estimates passed upon by
salcs.cxperts nnd vindicated by tho
actual experience of the Company
during the psst year show probabla
earnings approximating 55 on tha
entire capital stock of the Company
The Company hns no bonds, funded
Indebtedness or preferred stock Tha
shnrcs nre nil of one clnss nnd aro
full paid nnd non nsscssable. Two
million dollars of the totnl three mil
lion dnllnrs of stock authorized nre to
be sold nnd the proceeds to go Into
the Trensury of the Compnny In Cash.
Cadillac Motor Car Co.
"H'c do not aeo how ac got along
utthout such a typewriter before. Wo
into had excellent strtica from
same.'
Chalmers
'After using the Hoot en Automatla
'iiicttrllcr durina tha .V.in Vnrl 1 mn
Typeu-riter during the .Yctu York Auto
hlioxo. tee ore more cnthuslnxttn Him
iioiu, u.o are more enthuslastlo fian
ever ntot Hio jiossIMHIm of this
...nelili.e ."
Ansco Co.
"The Itooien Automatic fs giving very
tatlsfnctory service. Wo have had no
trouble tilth the niccliaiilsin of tho
machtne."
The Ingcrsoll, Rand Co.
"The llooicn Automatla Typewriter
has orcii icry satisfactory indeed. We
Ante lind no trouble with ft fn spite
of the fact, toe believe, tea Jinre alien
it harder service than ft uoulu" ociier
ally receive."
1917
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