f
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'V "$V',f
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t . .
. EVENING LEDaER-PHILADELPHU, THURSDAY, FEBRUARY 1, 1917
C.k J-t-T-
iV
HI
?
GERMANY'S PROPOSITION DENYING
SEA FREEDOM HITS STOCK VALUES
Losses Ranging From 5 to 3G Points Are Sustained as
Selling Orders Pour in Some Violent
Rallies Follow
High Points in Today's Financial News
The action of Germany in announcing decision to pursue new submarine
policy struck the stock market like a holt from the blue, values falling from
5 to Sb points. t Prices declined on New York Curb, (train and cotton prices
also fell, horcinn exchange market was dull, with little change in quotations.
Bar silver unchanged. " '
NUW YORK, Feb. 1.
The proposition of tho Herman (.oiernment to deny the freedom of ilia seas to.
American commerce came like u bolt from a clear lty to those concerned In finan
cial affairs this morning. Tho sudden change from promise of peace to the indent
ing of a crisis Involving our own nation in the general conflict was responded to
with n general demoralization in values In the stock market, prlcca of nearly all tho
Important Issues sustaining losses ranging from li to 30 points at and soon after
the opening. The mood of the Street had been bearish since the beginning of tho
week, leaving tho market without much buying power, nnd long before the opening
today selling orders poured Into the commission houses In an absolute flood
Tho amount of these orders, In fact, was so large that specialists i of used to
accept selling orders for some time before the' opening. When the gong hounded
at tho beginning of business on the floor of tho Exchange theie was a wild set amble
to execute these orders and little heed was paid as to what prices the nrlous stocks
brought.
United States Steel common was a center of excited trading. Moid than 35.000
shares of that stock were sold nt the opening at pi Ices ranging all the way fiom
105 to 100 at the same Instant, and later the stock sold at 09. showing a decline of
13 points.
Marine preferred dropped more than IT points to 05 and Atlantic, (lulf nnd West
Indies was under pressure at frequent Intervals during the day. helling down IS
points to 93. Republic Iron nnd Steel dropped 1G points to 60 and Central Leather
dropped more than 13 points to 70. I'tnh Copper, which was the strongest feature
In yesterday's trading, fell 14 '4 points to 07.
These declines were followed In home cases by lolent rallies. Within a few
minutes Utah Copper was up 10 points to 107 and Ufilted States Steel common
moved up 0 points to 104, but a good pan of the buying, and especially in Steel
common, represented covering of stocks In largo volume by the bear plungers,
who had been heavily short of the stock.
The market tone after tho declines and rallies was Intensely confused, with
a general disposition on the part of the Important Interests to wait for ortlon
by our Administration before tnklng a new and positive position on tho market.
The bond market was Irregular. Some of the speculative issues were hold
at concessions and the better class of bonds continued In good demand. There
was trading on a large scale In United Kingdom bonds nt slight concessions in
prices, with large amounts of Anglo-French 5s changing bands nt !)i", and 03.
STANDARD OILS SUFFER MOST ON CURB;
MANY STOCKS DROP TO NEW LOW MARKS
NKW YOltK, Feb. 1.
Values gave way on tho Hroad Slieet Cm It today. Just as tliev did on the
Btock Kxchange, with the Standatd Oil Issues suMalnlng the severest declines.
Somo of these stocks dropped 100 points on quotations without actual transac
tions being made.
Mldvale Sticl was one of the weakest of the Industrials, falling more than
2 points to 51. Submarine dropped 1 point to tho new low record of 19, and
United Alloys sold down fiom 48 to IfiVa- United Motor fell from 40 to the new
low record of 3S',.
Chevrolet, which sold yesterday at 10S, diopped to 04.
In the Independent oil stocks, ltoval Dutch was the weakest feature, falling
from 61 to 60M,. CoMlen & Co. sold at lfl'.l and ICVi, and Cosdcn OH was taken
at 14 to 144-
Mining stocks were generally heavy, with St. Joseph Lead dtopplng 1 point to
17. Magma fell from 45 to 42 and I nlteu erne irom .si in d.njj.
iMii'sriiiAi.1'
1H.I
Aetn.i Uxplnsives
Am-llrit Mfg
Am Mnronl
Anier Writ Pap
Can Car & Frty
do ptcf
Canven Steel
Charcoal Iron
Chf rolet Motot s
' Cramp Shipbuilding .
Curt Ins Aeioplann Ill
Kmerson Phonograph
Federal Dyrsluff 4"
Haskell & Ilarkei Car .. 4a
Hendee Mfg 5
Kathoilion Ilinnzc pief.. S
Laurel Oil .1 ias a
Lima Locomotive new., .is
liaxini Munitions 114
Mldvale Steel SIT.
New York Shipbuilding. ."."
Otis Llevalnr As
I'oole Lug so
Teerless Motors tl
fscrlpps-nootli 30
V, n Hose
Anknl. SnU.-l
I V, 4 V4 ft
l
-'li 3
.1 14 I
r.H .
14 I'JH li
714 H s
AS mo ins
7(1 ss
13 -40
1016 1114 13
12
at)
CO
3
(1
.VJ
.-.i'i
33
Oi
!!)
2d
13
Sll
,V
0
Mil
39
I? IK 19
8"'l ' 91i 9
19 1914 2014
S'l 514 SV4
St) S" HIVi
3.1 ."..-.'.' 33',
Id IS 49-!'l
314 314 "i
3Ki)', 3914 4114
'54 I T's
II Ills l-'lii
3-4
3R4
MK
73
S3
33
-
33
iV4
1(714
7214
S H Krrsge vv I
Santa Cecilia .
do pref
Stand Motors
St Joseph Lead
Steel Alloys 89
Eubmailnv
Triangle Film
Todd Sh pyards '. stl
United Sugar
United Alloy Steel
United StatC3 Steamship
Ualted Motors
World Film
Wrlght-Murtlii Aircraft
Zinc Concentrating . . . .
. lt.Wl.ltO.MIS
Rock Island common ... 37
Hock Islaril A pref .... 80
6 Hock Island U pref 79
S Western Pacific w I .... 21
Western Pacific pief 32
fit . SV..1.....I. T.I. ..... ..
..nuami I'UlsuurKU . . . I'.l
Wabash Pitts pref 80
STIMIAIIII III
Illinois
unto 3S9
Pralrlo Pipe 323
Bland rut fntir...i.. n
R Stand Oil New Jersey.. 701
4 Stand Oil New York...28B
A P. R. R. EARNINGS SET RECORD
'
if Business During 191G Greatest in His-
f' tory of Company
V Karnlngs of tho Pennsylvania Ilallroad
i tyitcni for the year ended December 31.-1016.
ju were the largest recorded during any year In
((" the history of the country. Gross Increased
J60.267.973 over the previous year to M4L-
- Z0.939,2C5 over the net for 1915.
Ik TnerO Was Tint fin event nn pymnslnn In
business durlnir December ns ilnrlnir tlih.
w tnonthB Immediately preceding, but thero
Uttif Bam ot 1.aoo.00 over the corrc
ff'ti'i.!'850' ns compared with December,
$ !:'.'. ,,8t0 ns compared with December,
i i"v arm tne total wnB 'he smallest since
February of last venr.
The follnUtnO tahla ul.ni. u fl.n rwvnaa on.1
i L.,. . .., a.tuno ilia ,,.'ao n,
, arnlnBS and changes of the entire sys
tem for each month of last vear:
IP - flpnaa
Pmbp , S3S.II8I.109
jjjvovemMr 8tl.lHm.0SO
;yuU,u,t 40.770,228
1iy SR.KH1.IM1
,u"; 37.514,0110
ptll
STOCK
310' 245
383
328
394
713
292
420
770
320
iNii:i'i:.Mi:.vr on
l!.tt not t Oil & Oas ..
Cosdcn O & O
t.'nsdcn Si Co
Kcdcr.il oil
Inter Petrol
Houston Oil
Mcirltt oil
Oklahoma Prod & It.
Os.igo Hominy
I toy .il Dutch
Sequoyah
Sapulp i Itcf
Sinclair
Mldvvct-l kk
.MINIMI STOCKS
Alaska Standard 4
Atlanta IS
Hlg Ledge 3
lllsbce Copper (a piosp) ')',
P.utte Copper & Zinc... 81i
litifo NY .... . ,. . I '4
Calumet f.& Jet nine ... ITi,
Cerio do Iihl" 3d
Consol Arizona
Dundeo Ariz !(,
Emma Consol 1 14
l'lrst National 3
Klorenco CJoldfleld ... . 23
(ilnbe Doin li
Ooldflold Cons il
lioldfleld Meiger 7
Ureen Monhter 114
llecla Mltdng 7
Ilovve Sound 7lf,
11. sroi'KH
Yra , Inop
Clil AbI.ii (Sill.)
2-'4 3 2
i4 1 1 '.4 in
K1'4 in'Vi 111!,
ft- r,v, sH
12 1214 13 '4
IS 20 20
lii 1314 HI 14
11"', 12 1214
8-,', 8
J (i.l 0314
IH IU
li'!i 10 1014
no :8 iinii
KK 92
Independence I.c.id
Jim Ilutler
Jumbo Extension . . .
Kerr Uako . . ......
Kewanas
MeKiuley-n.iiragh ..
Magma Copper
M.iics Co of AniPiic.i
Vrvada IVonder
S'lplcslng
It-iy Hercules ......
San Toy
Tonopah IXtension . .
West llnd Con
White Oak
. 10 r
. 73
28
4
. 17
. r.3
1114
44
14
I
08
V4
IIO.MIS
Am Smelt 5s 98
Cuilaliy Bs 9914
Cerro de Pasco Cs no
CoMlen Oil Cs 107
Cosden & Co new, Cs .... I OS
l-'rench Munlc Cs C14
Mldvale Steel 5s 9B14
IlUhsian fi'is -lliisji
do 5'-jS . . " 88
Sinclair Oil Cs 109
Todd Shipyard Cs 191
Western Pacific new 5s.. 91
V K new B!as 1-yr ... 1)914
do :-r 99 li
I' S Hub new oA . ... 00'jA
St Paul 4 is 00 ",i
11 14
1 lj
37
2 ,'
2 If,
1 14
3Ti
f.H
8
IS
71i
7
18
7(1
3 2
1'Ji
19
3(1
13
2 '..
21',
8'
l!4
in
!,'
72
3'.4
100
I (II) If;
IIS
108
ion
on yH
on li
90
III
10:
9114
fl9Si
99 Vi
BGiJi
0014
1714
0
li'.
Ili
39
21',
2'S,
Mi
71
K
lK.
711
70
32
18
S3
31
1
ll'
OUti,
10014
9014
97
8914
91
09
99 14
0(1 14
S8.197.0S4
35.412,252
3.1,2(IJ.4A1
31,59(1,750
32,081.434
.JFihni u
;Jtnury .,',''',';
.
I, TTflve montha 1441.010,417 (69.207,073
Incresan
11,094.422
2,(130.078
3,119,9311
3,891,080
(1,277,314
5.9311,0.10
R.110,418
8.9 JH 014
7,151,73(1
8.074,711
8.180,501
7,801.817
NEW YORK COFFEE MARKET
Slav YOllK. Feb. 1. The mnrkit for
coffee futures opened 13 to 13 points lower
today, with sales on tho call 14,500 bags
The unexpected German blockade announce
ment was reflected In confusion and excite
ment around the ring, but the outstanding
bpeculatlvo Interest was a comparatively
small one, and the political news bad less
effect than In other markets.
Today's Yritf riUy's
ODentne. Hon
..l'tf s .14
n-phrlisrv
March 8.3UOB 30
April
Jfay 8.50W8 00
.lurift
July ,. .. S.B-i
Ausuat
September 8 7O08.75
October ... . .
November
December 8.73
Hid, ,
H.03W8 (II
8 (111 8.70
8.74 58 73
8,78S.7ll
S.R3 W 8.81
8 88 8 811
8.92 8 0.1
8.9I1W8.97
9.0UO9.UI
Jwtmber
pYemuer
Mr ...
ottmbcr
W .,...'
ry ... .
". ",'...
Net.
0,llf.75O
8.207,053
0.H31.883
1 10.780.25 I
12.5411.749
11,329,830
10.222.100
10.843.802
S Sll 8(1
7.094,952
3.844.A2II
7,048,777"
Increase
$1,734,890
1.379,587
293.900
434,785
1,742,341.
1,575,123
1,701.413
4. 1112.2(12
8 ISA lilt
3.845,803
3.990.(1811
0,117,807
'9nth-
,..W,IU,WI 10,990,203
" ' ft 4' '
DELIGHTFUL TRIPS
With Complete Railroad, Steam,
ihip nnd Hotel Arrangementa
but not personally escorted.
lakewood nenMUDA
ATLANTIC CITY' NASSAU
FLORIDA CUUA.
PINKIIUIIST JAUAICA,
CALIFORNIA , FANAMA' '
fiend for booklet showing ihi
finest arrangements ver made for
ravel In the United States and th
American Tropics. Let us work
out your Itinerary and v you
tlmsiand money. '
RAYMOND 4 WHITC0MB CO,
I4M Cbeetaat .81., Fklto., ,
-r
Ncw York Stock Sales
Adr rttimel)
AJat Ituhber
AU,Va (lold Minos...
Ala'U Juneau
Allls-Chalmcn Mf..
Allli-Chjl Mfgpf.,..
Am fleet Sugar
Am Can
Am Car At Kdv
Am Ico FcciultlM. . .,
Am Un'eed
Am locomotive
Am hmclllng & lief. .
Am i Paper pf ...
Am 7. 1, ,; s .. .
Anaconda Copper
Alch Top & H Ke . .
All (lulf & West I .
All (I . V I pf
llaldftln liooomotivo.
llalllmoro & Ohio.. .
llarrctt Co
Ilethlehem Steel .
Ile.lilchem S rkm II w lp.
I.ait . s.-oo
close. Illh. Ixiw, p.m.
17!f 17 10'- 10H
. "J 71
. 8!f ,8'4
7 7(J
M 2.VJ
. 8i' yv
. hS M
. 7)i 42i
07 CMH
. 2S 27H
. It) 18
. 7.W 70' i
..KM KX1
41 42jf
ot :i.j
. S2'S Til1
IM'i uu
ii:i imi
ill1 j raw
,M'( iV.Mj
S0,'f 77!.'
I2:i 122
401 :i7."
ro!f
8!i
7
24
8Hi
82W
:' i
(VI
21
17
us
III
III
7.1
Kr."j
117
in
)'
7rt'S
117
370
111)
7.'.'
128
100
II
2.iW
M.'i
IW'i
77
1)7' i
(Mi
87
121
2'
IS
2.1
ru
I 14
42'i
21)
oS
4ll'j
PI
Illl'j 2".ij
I.Vi II
I'.".
h7':
.VI
Wj
102
II'.'
42
7(1
7.V
10' i
linwl.lv n Hip Tr . . 7i(f
urookivn lunon (iai 12!)
Ilurn II101 ml
lltitto & Huperlor . . . 4')
Ca'lfornli irtrolum ... 1'flif
Cal l'elrolc'im pf m
Canadian Pacific ico
Central leather sat,
Chandler Motor p;i
Chcs i. Ohio n'i
Chi Mil A. St 1 . .. sr'j
Clil & Northwestern .12.'
C It I A I'rfiof dp . ;io-i
C C C & St I, . r,')
Chllo Copper.. mij
Cblno Copper. . . . ,',,
C01 Kuel , Jroa . . MVi
ColumbU C!n. Hi,
Coin Products Kef. . . '(
Cruellito Steel . c,i :
Culn Cane Sucar .",ij
Cub 1 Carta Sugar pf '.i.Ci
1 no
Krle lt Df
Clrn,ral Klwlr c
Oen Motors icmp cfs
Gooiltlch II T Co .
(Jreat Northern pf. .
Illinois ( ontral .
Inspiration Copper . .17 Z'.l'i
Intcrhom Consnllil.Veil . 1.V, ll'
internoro 1 on pf (17' 1 ii7'f
Int llarv N J imp, us' j
Internal Mer M.11I11" . 2S , 2.1
Internal Mer M pi ... W2 72
lntern.it Paper til1 2
Interim Paper pf lot
Internal Mrla-I j
Kennerott Copper. . l.Vt;
i.ick Steel si1 1
lehlgh Valley 77
linc N'and ...
Markar Cos
Mat ell Motors . ..
Max Motors It pf .
Max Motors l!d pf. .
Mexican l'crolpum...
Mliml Copper . ..
Mbsnurl Pacific u I
Mo Kan .1 Texas . .
Mo Kan A T pf .
Montana Power
National Knam A. S
Nat bead Co
Nev Con Con . .
New York Air Drake
New York Central .
N Y N II A II.. . .
New York Ont A. W.
Norfolk A Western. .
Northern Pacific
Nova Scntlv S & c .
OIiIj Cities (ias
Owens Holtlo Machine . 101'i
"rennsviv.mil nallroaJ.. ,wi
Philadelphia Co 403
Pitts Coal cfs of dop . . If,1 j
PI ti Coal pf rts of dep Hi';
Pitts C In Chi A St I, S(l'
1'iessisl Skel Car. .. . 7!p;
l(v Steel bpjs ;,(i,
II.iv Con Copper 20','
IteailhiK ps' j
KevllnR 1st pf . 47
i:e.vlin2 jd pf . .tt,
Hi'P'ib.h Iron A Moel.. 7(1'.'
'-axin Motor 1 O'i
S-.ilioard Air Line . . Kpj
Seaboard A I, pf :J7
Sears Itrndiiick A Co . . .22S
Slosi-Shef S ,c I . . . . (VJ
Sh.itturk-rlzma 2d'j
Southern Pacific ir,'i
Southern Ity ;)l',
Pludebaker Co lot
lej.is Co 's
7l)lf
8W
24l
81H
S2
!W
01
211
17
iWi
1)1
It)
111
70
102
D"
in
M
74
nr,
:iri
no'i noii
7," ii
12ll 12
117 !)7W
10 -I0'i
21' j 22'(
f2tj (VJIi
l.w; i;.7
70 7.P.'
1)1
no
ao'i
121
27' j
IS
22 '4
.VI
-l.
37' i
!)'
M
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III
I) I
,Mt'.'
8."j
121
27'
18
21
40'j
42
.17
10'f
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in
it'
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ir.s'-i iM'j ir.p, loth
no'; 107 100 lni
V .77 .Vl'j ,!.",' 9
1 10', in n;i' li.T,
lo.v, ku'J 10.1 io:i'i
is
13' j
0T
US'i
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10
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13'i
00
US'i
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Ml.'i
12
Kill, 102
lO'l 40','
41';
40
7
71
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S7
41
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87
31
2')'j
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17
lis
20
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12 -10
20 2.'.';
l.'ll 130 130
10.7 10.' a
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3". :;s";
ins ids
.-.1
Ol'i
,I3'5
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30','
in.';
8
17
100'j
27"5
e1'
- 4
37' 1
US'.
12',
32
S'.
IS
101',
30'
.vi'.
2i';
l.VJ
100
12'.
20' j
l.il'i
107' j 1(V
110 10 7
lOS'i Kk)
'.it;
.10
39'.
43'i
ill
71
to
87
,111
Ol'j
33' i
01
3.1
30
s
17
lis'j
--
112
07' 3
II
IS','
!)'
U'i
U'.
70
:s
10'.
30
7p;
r.'.
2,r ;
1 1'
it
IV 1
,V4
10
3V,
"jp; 2201; 220' i
.7 ,r. 5
'Vi
7(V.'
10' i
2.1'i
ll'l
U'a
II
07
,
10
30
: .1
ht; sit
28 2S1 5
itt on';
Mil -JtO
lohacco Products fiflj, cmj UiH 50'i
Union Pacific 42 138!; 131'. 130'i
uniitd i is.ir stores Ill 07 po 1)0
United Fruit 1,71 111 I to 142
'
111'.
30
102';
218'j
.118
. r,'.t
02';
112
123'.
ill1; 107
21
12
lll'i
.11
M'i
.1.1'.
2S'j
20
II
.12s;
.11
11.1 112
,10 .1,1
o'l .'.7!
KVi ll)
lllllj 118;
07
in
.17 'j
UlV-i
us1,
nr.";
U H lnd Alcohol.
U S Itiiliber
U .. S Itrf A M
U S Shel
U 8 Steel pf . .
Utah Copper
Utah Securities
V.i-C.iro Cheni
V.i-Caro (hem pf
V.v Iron C A c. ., .
U abash
Wabash pf A
Wabvsh pf II .. .
Western Mai) land. .
Weslern Mar) land pf
Westln.'hoiisi) i: A. M
Milto Motors
Wlllvs-Overland 3.VJ
vvnvin nui (i
Woolworth K W.. .. 1,10
I!x dividend rennsvlvnnl.i Railroad, 3,
Miami Cupper. 14 and '-. extra! Durns Ilroth
rr. I' , American Uanknote, It 1 Chlcaso, St.
1'rful and Om.iha. .1'.: preferred, 34.
21'S 21 21
10 3S 3 s
IK) 110 110
,11 ,11 .11
11 I.!',' 131,
51 j 4')'; .1)!,'
27)5 27 27
2.1 2 llj 24 li
10 40 10
fil 4'J 4'.);
.V) 47 47
35 31 31
00 Jf .IS 00
113'; lis1; ii;u
I'aris Bourse Steady
I'.MUS, Keb. 1. The Ilourso was steady
today.
STEAMSHIPS
Merchants & Miners Trans. Co.
Philadelphia
to
Jacksonville
and
Return
$39.00
t
U
Q
x .r x o
X . m- X a.
sX
vr
Best
Service
All
Outside
Rooms, Meals
and Stateroom
Berth Included
City Ticket Office
105 S. 9th Street
l'linne I.ninbard flfiOO
Ticket, cood
to
return
wllliln
wiNTi:n itixiKT.s
TlIXTIC CITY. N J
m ATLANTA rtrm
J ivcqanlsQd s tandani. I
oTtzxcellcnce. I
CigiwySOO. WALTER J.BV2m
Wealminator Ky- '" ner U'cch. kiv.
v.Hiini.iai.v.1 tor 0 p , bath., run1
tr, SH UD wkly. 2up dally. Chaa.Jluhr..
oyrpiNT cpjiroRTt vaj
Financial Briefs
The Wheeling, Ohio and Eastern Ilallroad
has bought tho right of way and property
of the defunct Pittsburgh, Connellsvllle nnd
Krle Ilallroad, Tho railroad plans to build
n line to the coal fields of dreenc County,
Pa.
Kor the ipiarter ended I'ecembcr 31. the
operating Income of tho New Jersey Zinc
Company was (8.312,651. ns against S8,
304.61 1 for tho preceding quarter. Tho
net Income was $8,197,061, continued with
tS.189.Cll.
Dross revenue of tho I'ennslvanla Water
nnd Power Company for tho year ended
December 31 was M,358.Siir), nn Incrense
of $236,181 over tho preceding year. Net
Increased $194,fiC8 to $1,140.9!);). The sur
plus at the end of the year wan $619,870,
a gain of $185,797, ns compored with that
nt the close of the previous jear
-Vet profits of $2,351,371 were reported
by the Southern Pipe Line Company for the
jear 1916, ns against $1,966,756 nt the end
of 1916. Tho deficit at the close of 1915 vva-s
$433,242, and this was reduced In $45,627
during 1916
IMnnrtl T Stuart lias been admitted In
membership In the firm of Welsh Brothers
Mr. Stuart has been treasurer of tho Penn
sylvania Steel Company nnd the Mnrvlnnd
Steel Company fur the last two yenrs. and
for twelve .vcors previous to that tlmo lie
was treasurer of the Cambria Steel Com
pany. A Philadelphia Stock ! change seat bns
changed hands for $3300. a decline of $MD
from tho last previous sab
There has been admitted to the unlisted
department of the Philadelphia Stock K
rhange, American Telephone nnd Telegraph
Company receipts $2.1 paid.
The seventeenth annual statement of the
Commercial Trust Compan.v for the llsi.it
v-flxr ended on this date shows loans totaling
$11,078,0,78, deposit of $26,116,71.', a sur
plus of $1,750,000 and undivided liroflts of
$23,1,183.
The bonrd of lepresentnt ves of the N'ew
Yoik Curb Market Association has listed
these securities The Smith Motor Truck
Corporation. I.2O0.H00 romnion shares, par
value $10. fcnd 20,000 convertible nnd under
20.000 convertible pieferred shares, par
value $100. The (iiiaranty Trust Company
Is the transfer agent and the Kqulinble
Trust Company the leglstrar
Net earnings of the American Slerl
ICfiuudrics for the vear ended December
31 were $3.4 IS.G.I". an Increase of $3, '119,19.'
over the previous year
The New York Sulitrensury gained $974..
000 fiom the banks on Wednesday, making
a cash net gain since l-'riday of $1,387,000.
William Paul Mclunk n has hern ad
mitted ns a partner to the bond and stock
hoiis-e ot II. It. Cordon & Co.
Sugar Futures Lower
Nl-:w YOKIC. I-'eb 1. The sugar futures
market opened 3 to 13 points lower tod.iv.
with trailing on the call active and senti
ment nervous. First transactions totaled
nbout '.'7.70 tons Kurope, local trade and
Wall street Interests were free sellci. while
11 little support nt the decline came from
tho principal Cuban quarter and scattered
outside. Interests The diplomatic situa
tion was responsible for the unsettled con
ditions in this market and right after the
call business quieted down a little, opeia
tors awaiting developments.
Continental Paper Renews Payments
NI7W YOltK. Keb. I The Continental
Paper Company lias declared a quartet Iv
dividend of 1 'j per cent on tile common
stock, together with the usual quaitcrlv
dividend of l'j, per cent on the preferred
stock, pavahle February 1.1 to holders of
recoid February 8. The last dividend on
the common stock was paid In August, 1915.
New York Bond Sales j
.- - H , n 1 in 1 "
J200( Amer Aicr d, Sa
t;n;; Anelo-Krenrh 3. .
HO.'ilMJ Atner Tel Ra
400H Amer Ice nn
1 1 lion Armour Co 4't
3S1UIH Atchison gen 4
41 Allan Co I.lne ll 4s
. ' ",lt Ohio 3'iV
'.('11(1(1 ,! I, , ,
1.1(111(10 ,, cv 4W. .
lllMiuii llrciokn It T 3s lnlt
IniHi Hush Term Hid fi .
loon i-nn Oovt 3s nun
7(1(1(1 ,lo ,-, luai
.IniHi r c r KP 4,
31100 Cal (Ins l;iec :,s
4IKKI Cent leather lt r
cv 4'N
7:ill(li) I'hlll Ciinner
24(1(111 Chen Ohio
1 Kino Chi (It Wen 4s
avion Chi I'n Stn 44 s
' I'M II g Joint Is
31(1110 C M A HI i' innr f.
7II1HI ,1.) iv IS 1.
fl'iiim Chi 11 1 1 rf.l Is
I noon .to r.s
1 "I do 4a
I'l'i'l Chinese rim :,
l(i(l Clev Sh Mm. 4ts
Minn Chi liwvs .-,
Illch tw 3 r m.
104 104 1114
m'i 2S 112S
UT wis mis
nil's nn!. mis
looim iniia loo'a
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miS mi's mis
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lmmiin cit ,,r c.iri, 11. ins
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lliiKI Hrle mnv la Ser II (let
Iniinil lien r.,,. ,1,-t, .- 1 (nl
lfliiim Hu.l Mm in r.s .!,
llllilll llniL V',,1 J SH
3000 llldlini, Slerl
lllllll Irtw .1 Cnl f.. Ill
Minn III I'enlrnl Is l!C,.1 ss',
l.Ki'l'l Inlirli Mel 4's TO',
3IIIHIII Intirh II T til r.a Mi'a
lBlilim Inter Mer Mnr la i.1
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.noon ,i,i ii, ; nut,
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tool M inlitti.i I'nwir ,'a llnl ImiS 10"S
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1 V'iKI P.lilfle Tel ,-,s
llnoil I'n, Hie Ota r,a
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lnon I", o A i:.ist In la
l.nnn IteiKlInK sett la .
innii Hep 1 ,t h r
loon Itln (Ir W lat Is
t.liliHHl St I. A S I' njt (Is
tTlidil do In .".a
371 nun 1I0 la ,sr A ...
.Ii'lllin ,1 1 r,s Ser II
llinil St I. Snti ,,111 ta
llinnil S A A A I' 1st Is
lllllilll S A I. at.l Is . .
BOiiii .1,1 rfd 4a . . . .
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21,0(10 Smith I'.ic rv ta . .
Innn do rM Is .
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innn ,1,1 inn r.s
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27IKIII I'ibIi I.l A I'uvv Ra
linnn r S4 H A It lis
Muni r s Ituhtiir ns .
I Innn I s Steel h f r,s .
lmiiil t'nlon Pie lal la
7HOII ilo 1 v la
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LT.nnil I'n ttma S I" la
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lr.niiii 11 uu va r,s
lmiiil W'llann Co 0a
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.Much Cntlniisvi'd Ciuslied
WASIIlN'dTON. I'eb. I Cottonseed ic
celved at mills In the I'liitcd States be
tween August I nnd .Innu.ny 1 amouiited
to 3, 8.14, MS tons Theie was flushed dur.
lug that pel toil 2.313,101 tons, and them
was on hand at mills .January 1. 1,53C,740
tons, iicconlliig to a report Is.iued by tho
census but can today
n? !I7 07
ntS ens mis
mm ims lot',
H.tS i3 in
in IS t n:is mis
3111, :10s S11S
mis mis mis
inn ion Kill
MI'y J.T, MS
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H? tins mis
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inns, inns ions
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1 :n'j ni'4 ais
WlieelitiK Sled I'ays Stock Dividend
IMT'r.SIHUM.11. Fcl 1 The Wheeling
Steel and Iron Coinpaiiv ilicl.ireil a stoik
dividend of 'j per fent ia.vable Match 1.
GERMANIA E STATI UNTO
IN UNAPERICOLOSA CRISI
II Ciovcrno del Kniscr DIchiara
(li Iliprciulcrc la Gucrra di
Sottomnrini Contro
jjli Allcati
RITIIIA LA PROM ESS A
A WashinRton Si IUticno Clio In Situ-
nzionc Impono In Conscpna del
I'assnporti u DcrnstorfT
WAHHINC.TON'. P. C 1 Kcbbralo.
I -a sltuazloho dlptomatlra tra Rtatt Unltl
e (ierinaiila e' dlvrnutn Improvlsamento gra
vjsslma I.n Cisrnianla In una nota consc
gnala lerl al segretarlo ill Slato I.nnslng In
rlrposta nl iIImoiso del ptesldonte Wilson
al Seiiato amerlcano lu dlchlnrato dl vo
leiH iul7.ini o una gueria senz.i qunrtlero sul
mare, proponetidnsl ill nlTniiiare l'lnghlllerra
die easn litlenti sola lesponsablle delta
fontlnuniilone della presentc guerrn. In
nlciint flrfoll polltlil si ilifp clie nl presl
ilcnto Wilson no ilmntio nltro ora cho ennse
girtre I p.issnpiutl nH'atnbasclatore Hem
slotff e piepntarsl per II pegglo. per una
pnsslblle (Uihlarazioiie ill guerr.i rla p.vrto
ilegll Statl I'nltt alia ileriu.inlu
In sost.itisa 1.1 Oerinanla Iia rltlrato tutte
li icstrlzlulil fhe, a rlpetute rlchleste del
pre.'ldenle Wilson, si era Imposta nellii sua
gucrra ill sottomarlnl So In (lerinanl.i
nvessp nvtitn prontl I soltnmarlnl die ha
ora. gla' da tempo ess.i nvrebbe rltliato le
pnimesso date al govemo ilegll Statl I'nltl.
(Juesto p fhlarn Itlmane da deculere quello
i he gll Statl t'nltnl faranno ill fionte a
qucst.i nuov.i prova delle "lealta" della
(lermanla. Flnora II prcsidente Wilson ed i
f1111zl011.ini del Iilpartlinentn ill Stato haiino
mauteni.to tl sllenzlo I.o mantel 1 anno lino
a die lion avramio preso una declslone cir
ca 1,1 llnea dl i unlott 1 die le piesentl clr
enstanze hnpongioiio ngll Statl I'nltl per la
protezlono del loro co-umerclo 111:11 lltlmo
noli solo 111,1 dl ipiel dirlttl dl iimauita' c
ill quelle leggi mot nil dl cul II prcsidente
Wilson si e' fatto paladlno.
11 fondo e" II tilmifo ileirninmlragllo on
ritpltz, I'aimstolo della guerra scnzlo
quartleic. die uu anno fa circa dovclte rltl
r.irsl. co.strcttovl da llelhmann-llollvveg
It blncco dlchlnrato ora dalla (lermanla
si Ktende priuclp.ilmeutc attorno nll'Inghll.
terra ed alio enste atl.iutlclic della Francla.
oltre die al Medlterinneo. Che II blocco
si. 1 coionato da I succcsso, semhra ilubblo
SI sn qui die I'lnghllteirn, die era stnta
Informata ill quello die l.i Cernianla si pio
poncva ill fine avev.i gla' da tempo peiisato
ni ilp.nl. ciia essa ed I suol alleatl dl
spongnno dl oltre qunttromlla navl elo
cIsBiinp. leggere: armatc in motto da poter
conitiattcre I.l mlnnccl.i del sottomarlnl, o
questo qiiattroinlla navl saranno lanclato
alto calcagna del neinlco
II Congrcsso intanto attende ora le ilecl
slonl del ptesldente II scnatore Tillman ha
dctto die so egll fossi prcsidente e la
( let mania inellese lu piatlca le idco es
picsse nella sua nota, rgll darebbe I passu,
porll aH'aiiibaM'latore Ilcrnstorff c lo man
iteicbbe a 'lagglungere I barbarl dal quail
fu m.indato in America. Ill In gencralo
qnei-ta ' l'oplnloiie del membrl del Con.
giesso 11011 ptcgiudlcatl da seiitimcutl ger
m.iiioflli a tut tl I costl.
In tanlo lerl sera ordinl partlrono da
Washington dl 11011 pcrrnettn ail nlcun plro
scafo ncutrale n belllgeianle dl partlro dal
poito ilegll Statl I'nltl Intanto, glncche'
la flci mania Iia animnelalo chc I suol sotto
111.11 1 ti 1 iiffmidci. innn 1 piioscnll.o&pedale
seiu.i picavvlso e senza vlslta n bordo, II
gov ei no Ingleso rieonera' scnz'nltrn n rap
ines.igllo cho saianno diirlsslme per I te
dehchl II fatto o' r.i clie la guerr.i entra
nella sua fase senz.i qii.ntiere, completn.
inente S.un una guetra come forse inal
si e' combatlula una guerra al coltello.
UOMA. 1 Febbraln II Mlnlstero della
Cuerra pubbllcava lerl seia II segucntc
&
rapporto del nrat OMotrrA'i
uazlone alia fronti'ltIo-wKrtei:
Sulla front del Trentlnefe dels
Carnlcha al sono uvute ailonl Mi
tentt dl artlsllerta alia, ttttkta
Val Camonlca. nella xona montuoa
Iiko dl Uarda. nell'alta valla dll'AlM
e tra II Pal Piccolo ed II monta Zlliv
kofel. , ;
Nella Rlornata dl lerl aulla ttonU X'i"
dclle Atpl Qlutla 1'ortlgllerla ntnale
ha mostrato aumentata attlvlta' aull'al-
toplano del Carao. L nostra battarl r'
lianno rtsposto efflcacementa a vlcoroaa J)
memo 111 luiku iiemico bu nuno aia v. r
turbato movlmentl dl truppe auatrlacha A.
nuug icuuvifl, ,,
T ...... ,1 .... J. A- " Jl ",
jii tuiiu 11 icairu ui Queaia oparav
zlonl la tempcratura o' atata, eocaMlra
mente basaa, nvendo ragglunto In qua!
che punto flno a 28 gradl centlcradl
sotto zero, eguall n circa, 18 gradl
Fahrenheit aotto zero.
COAL OPERATORS ADMIT ;
SLIGHTING PHILADELPHIA
Send Product to New York and New
England for Better Prices,
They Say
Independent coal operators have admitted
to District Attorney Samuel P. Ttotan that
they nre diverting thousands of tona of
coal to New York and New England mar
kets in discrimination against the Philadel
phia district.
Said ono Independent:
"We nre4not attempting to sell coal In
Philadelphia today because we know that
tho dealers here cannot afford to pay tha
prices we nro asking. The shortage In Ni
York nnd New Kngland Is so acute that
dealers there nro willing to pay almost
nnj price We nro not in the buslnei
for the fun of It. and we are going to sell
our coal In markets where wo can obtain
premium prices "
Another Independent said lie was selling
very llttlp coal In the Philadelphia district.,
"Our price here," ho said, "Is from sev.
entv-nve cents to Jl per ton more than
that charged by the Philadelphia and Read
ing Coal nnd Iron Company and other big
producing companies."
It hns been estimated that the output ot
tho Independent operators In Pennsylvania
Is 15.000,000 tons nnnually, as against
GO. 000.000 Ions produced by the four largs
companies, the Philadelphia and Heading
Co.i I and Iron Company, the Susquehanna
Conl Company, the l.ehlgli Coal and Navl
gallon Company nnd the I-ehigh Valley
Sales Company.
T
'-I j
FOG AND DRIZZLE; COLD COMING
Weather Bureau Insists Sharp Drop in
Temperature Is Impending
Fog and drizzling rain greeted Phlladel
tibialis when they nvvakencd tills morning.
The atmosphere was muggy and there was
no sign of the diop In temperature whloh
the Weather llureau predicted would hap
pen today In Philadelphia nnd vicinity.
The fog Interfered with ferryboatlng on
the Delaware Illver. and because of tha mist
trains on the Pennsylvania Ilallroad and
tho Philadelphia and Heading Hallway were
from five to twenty minutes late.
Toward noon the sun came out. It kept
disappearing nnd reappearing every little
while.
In spite of the unpromising outlook the
Weather nurcau Insists that a cold wave
Is headed toward Philadelphia and will ar
rive here tonight. It is expected that tha
temperature will begin to drop by late this
afternoon,
Two Men Caught Robbing Store
Two men were caught stealing groceries
fiom the store of Louis Fleischman 235
North Second street, today. The men' who
gave their names as Walter KJanlskwel
io-ty-seven years old. 513 South Front
street, and Tony Slavlnskl, 229 Haca street
were captured by a night watchman and a
policeman and taken to the Fourth and Itaca
streets station. They wero arraigned be
fore Magistrate Kiscnbrown and held In
$1500 ball each for a further hearing
February 7.
HOTEL CHAMBERLIN
OLD POINT COMFORT
fi.lmn.lnff Pott). Golf- RB
V fiuuliSiliina. KvariKummin
luth and Trtmtnt. Writ
GEO. F. ADAMS, Ma0r
f orlrf Mnra. Va., tr
Ak Mr, Koter, at Cbeilnut and li!th its.. In
Ackr'; CookV Tours, 1ST S. UroaJ t.t tha
)nn. K. H. Co.. 163V Chlnut it., and Ledger
Central,
Ws
BIIUCATIOKAT.
STR AVER'S ss.srJBSssrassk
llill.il.s fi.nlnl..- WMv"kf, ik 9t ,tL I
A Form of Investment
Heretofore Open Exclusively to Banks
$50,000,000
New French Industrial Credit
An investment for individuals, corporations, investment houses and the smaller banks,
usually available only to the larger banks and financial institutions, is afforded by
participations in this Credit through arrangements with original participants.
Form Assignable Participation Certificates, registered, in desired amounts.
Security The several obligations of seventy-four important French Industrial con
cerns, payable in gold in New York; collateral consisting of ,$50,000,000
French Government Notes and $10,000,000 approved Bonds issued by or
in neutral countries.
Term Eighteen months, maturing July 16, 1918.
Return In excess of five and one-half per cent, per annum, quarterly In advance. '
Profit An option to take payment wholly or in part in francs, at a fixed rate,
affords possibility of substantial profit in addition to the return above
stated.
Purpose The purchase of American merchandise for export.
This credit was arranged and the original participations were obtained under the auspices of Guaranty
Trust Company of New York, Bankers Trust Company and William P. Bonbright 8s Co., Incorporated.
Original participations have been taken by a large number of American Banks and Trust Companies
throughout the United States.
Legal matters in connection with this Credit have been passed upon by Messrs. Stetson, Jennings 81 Russell
and Messrs. White ct Case of New York, and by Messrs. Coudert Brothers of New York and Paris.
Price on Application
. Thfundcriitntd resent tfi; rth'. to decline any application
tni to mae allotment! of smaller amount! than applied lot.
William P. Bonbright & Co.
Incorporated
MORRIS WISTAR STROUD, JR.. Manager
437 Chestnut Street, Philadelphia
Boston Chicago
li
New York
London
William P. Bonbright & Co.
Detroit
Paris 1
Bonbright & Co.
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