f".- -- ? . I t "A Y' .1 " , vt : --.. ttr) F? L EVENING LEDGER-PHlLADELPHtA. , SATUKDAY, KEBKUARY 17, 1917 - . ". ' I. ' h -. , - : Invest The prudent, suc cessful business men, are placing their funds and savings in protected bonds, safe from the uncertainty of the speculative stock market. Invest dont speculate. pngOKESTOKESfl, r.Q 15th.&Wl"utSt FINANCIAL NEWS Anions? the important busi- 'he changes, the Supplce- Biddle Hardware Company iJnounce that on February 14, 1917, Mr. Robert Biddle, 2d, was elected president, and Mr. Walter H. Lippin cott was elected" a director. The board is composed of Mr. Charles M. Kddfe,rh.lrilMB Mr. Robert Biddle, 2d 'Mr. Marshall S. Morgan Mr. Walter H. Lippincott Mr. Charles M. Biddle, Jr. Oon Fjnney AUTOMOBILE BANKERS Offer special facilities for In dividual, or automobile deal. ers to finance the acquirement of pleasure cars: and for business houses to finance commercial cars or trucks. Jf you .are thinking of pur chasing a car of any kind for any purpose the FINNEY SYSTEM will make a better business traiibactlon for you. REAL ESTATE TRUST BUILDING PHILADELPHIA Grain & Cotton ' Spfcliil Service , Q-. GhandlerBros.&6o. 1338 cheetput Street BANKERS A BROKERS .New York Philadelphia Harrisbuig OFFERINGS OF STOCKS art?, smat . TVTT-vTTr-k A rr,-r- ,-. Ji.ri.XJiJ) ljxj xjkatjh DEMAND BOOSTS PRICES Bear Traders Lose Confidence iiTshorl Position on New Haven and Issue Moves Up-National Enameling Jvances on Belief of Dividend Next Week High Points In Todau'a Financial News cotton higher. New York- h ,b'.ii',Y '',"' ''" "',", tte,,ve- V'ier" lo,vfr ' ' demand 'R f T''' lleere'w" '' W I"- I In II- ..... i N'W VOHK. Feb IT "'"" " nailing XV h ii'i the x,l. ..,.i...i -. -". . mini nit llllll fl ziz .nX'rr ",fu,e ,,""ti " u'-""- -m: K but of e lines r ',' """' """""'"" '" " Im-nlll, for fad- en'ia 1 1 ca e 1 ' . l? '"" "" "'""" ,,,at " 'e'1"""1 " ''"le' rose rnini 3,1,4 to .lit. The position of II... 'n II... ., ....,, .... hi i rip takia. Charles J. Bender & Co. INVESTMENT BONDS, lumbers Philadelphia 6tock Exchau. NORTH AMERICAN BLDG. KINTAL WANTKII rAa lnv-eai,r vwinied wlilt iiildiih i.r , rkeal corporation preparing to hiiIihIuii tltllj Inerease It, Ininlne,,. A virtual Bioaopolj In whirl) large profit, nrf p,i, t libit. II Mil, Ledger Central. rARTXEKSUlP NOTICKS HmiQTI.'111'll PIIFTVrVUIIIIl V EKOTICE IS HUltnilY niVKN that Harry llWlMflfl 1 I I. III.. I.. . T...II.. J...-., ' il "7 "'" T . -.w...T .-...ut.ii. . lllll.ueillll., " thl day formed a Hrslitered i'arni-r-WP under the protlsluna or Urn I'ennai U.inl.i r"i' v. ivn, unu im niippiemenlM, lor FJ curpoia of f-nsaElnL' In Hi bualuras of PUUlirturlnp- ami baIIi.i. u.iu.i . m , -,--T -L ' iihl inMin nun. unu PiUndr the name and nolo of II. Koitn. k-Sf.5,i'1 "" nosenbloom baa Ibla day mn. TlOtltCd In tha UI.II..I . P v. .. t . ... .. a - ui llth. ..M'r....T.,...V:': . iii...n, Sniirf .u "'" f'iopin nai iiiin uy ion. iiuM I " J-Uinai, . ll,e n"n the urn wi. iJ.i5.fa,.h' "nfl.th?1 I'al'lllly tir Itia riuid IkiiV.k ".i inrwuy umiieu ir ina amount Lmi f lp,l?n' 1n accordame with tli ir- IW ffiSK" , ?i,' .r?Hm,?.!"H -.7. '!" s!.' att.ifj.lf?.' "fb,".1'r.' .,u?- """1 ' ar(lcln ti'ttlr of ii f!ir Teco',i " the oftltB of the It HAFtllY ROSKNHMIOM. k '""' riMIIHKIN. liBBlViSi'.:. If ViuTi v',r-'''.i.i"-oiicitor. p.t iw-ll Commonwealth llld. cnuwny ta nnanolally m.b. no matter .,. Mo tl., i,ra, "ZZ , n.nv the 1 .,. ""W """ ",R """'""""" il 1-nil of the ImMnK ul.llf iuln It I 71", " """""" tt"K f'"' ,""'" f lS l-ol-le.v of IVi.il 1,1 7, l""0i"'- Marine p.efer.e.l , nnother s.ork In !,.,, ,,., ,ler. in ,i "" " ' lni"or"nl ' TIip l.rar nailer M.n.ip.l M,i,IIK r, ,, HllKjk in the first few minute nnd foiled the pi Ice up 'J', polnlM to 71 s4 tnlleil StnteM Steel common ,, In quiet demand fim Impoiimit noiiu-e. am made nn inhume of l.j, , St,. There -wiih k.h.,I 1,j Iiik. I ,f imhuv of the war-order ucU. InrltidlnB ('nudldp Hteel, ItepuldU. lion and Steel and lenlral- I.e.ilher. National Knnmellnir lepnnileil to u.ntlnued ac'imuilaliou with mi ndvame to nlme 34. The imniinl ineeliiiK N lo he held net week nnd InleiestM IdentlHed wfth the iiiiinnRfiiietit o.re. the l.eli.-r that the Hloek will then he put mi n 3 per rent dividend ImMs. The c tippet .loeks. im a Kiup ueie Ditnlj held with flnh and Anniond.i uiiiktiiK fim-llonnl mhanee-. Lackawanna Sleel was Hlnnip in ics e to the Rood showliiK made hi the annual lepoit and nihnnreil moie limn 3 points to above 7S The HiiKnr storks eie mi mi);, with Cuba Cane Siikmi mohiK up neail 2 u.lnls. and an aihanie of mine than 1 point was made in Aineiii.in SiiRiir Ititlulim In Hie late tindlni; the ilemand for storks lierame mole uiKeiit. and in.im Issue, mad,, funhei KHins, elosltiK at a new IiIkIi ihiiki- for the ila. The bond maikel showed n kpiipihIIx Hun tone, with IiiisIiipms, howpxei. I eli reteil liy.n disposition to he piepmed Tot a (imei iiineiii loan. In IihI.iJV trndliiB In the Mailne Issues weie nrthe nnd stioiiK. the f,s ailvaiifine fiom 9la to H2. AiiKlii-Kienrli iis sold at :, Ameiifun Telephone ."is landed fiom , lt)0 tf) 101. New Ytitk CenliMl dehentuie Ks weie stiom;. innkliiK Kiilu of U tfi 100. ACTIVITY MARKS TRADING ON CURB; AETNA EXPLOSIVES IN GOOD DEMAND NHW YOUK. Teh. 17. There was Ihelv tiadliiB on' the Mio.ul Stiept t'uih today, with a kihmI deal of Interest attached to the tiailltiR In Aetna Kxploslvei beiMitse of the statements made In eonnerllon with the appointment of the prolerthe mu ni it tee late yesterday afternoon. Thete was a falilv large Miluine of business at pi lees lancliiK fiom 4'j to I'd, and the Rood demand in exldetue Indicated hIioiik 1ioips that the new step would materlall.x stieiiRlheu the position of the rompan.x. Moie than 2000 shares of Midx-ale Steel wete nailed in at .'i4' to .".4'U. Sapulpa was the fealuie of the independent oils, ehancliiK hands nl HVa and 9, IndloatinK that the utTeiliiK of stiel, to xxhli-h subsci Ipllons aie to' he closed on Tuesdaj, linxe been eomplelely nhsoibed. Sinclair stild at 56, to SB. and Itoxal Dutch tanned from i5ii' to fio'x. Kedeial sold at ii and 5',,, ilklaliom.i I'mtliiciim at 10', nnd Osae at 9 nnd S',. In the minliiK stocks fulled Veide continued the most active featuie, sexeial thousand shales beliiK tiaded in at 39U to 39 MaKina sold nt ,M and S0?4. and Consolidated Alizona at 2', and ". Sales of Central l'oundr.x ptefeired weie made at H.'i. !-nke Tot pedo sold nt 9, I'nlted Alloy at J2 and United Motor was active, with sales at 39 to 4l. The silver stocks eontlnueij tlim, xvilh sales fif Nlplshlim nt S'i t.Mll'STKIAI.S New York Stock Sale Yen ( loe 44 4 U S4 .uyt LEGAL AIlVKftTISKlIITVTn NOTICE IS IllItPltV fllVVV THAT 1T1 Br.nl I An ll. ...Ill 1 . .1 fcay.?,ii:,.S0'..r'nnvlvanlaonlhe , palley and '. w. Waltman. under the InlhT .JSiVr J'.'I L'ommonwealih of Penn- i : .-..., rtii i:l id Drnvinn mr ina u ..." 1fl r'Bulation of certain corpora uu H,S5I?yd.AprlJ "- 1874- " the aupple-SS.10.- '" .,h'..l1art.r of nn Iniended -,rtk ih... . l"" ,"xernais lleauy fchii. h.fjar"r .'"", object of which la lo Itnif V. I .'". la'. improve, leaae. e I all im.,....n,f'r ur"1 con'y r"l eatate I litw,,. k "r ariains inereoui, iff SS'Ji' "?.'" "V. .Proflt". Inere- aV mm ih.,., ariaini ineretrom or from lYa I!!0'' and, for these purpoaes to Chi r.0"?" "1 enloy all the rlghta. ly and i,1 '..'."v" or ,ne al1 ac' ot A r"" ana its supplements tf (lev lull AIC.NKA1.. Solicitor. ATE ?F. ANDREW C. CBAIO. DE i ...!!a -r Letters testamentary on tha IbviDRMT i f v'S'. J",n eranted to THK rPHIlliSJ'tt.'S AND TKU8T COMPANY IWM eaiail i. ' "" Persons Indebted to I Um. h., nV ..e.,,,?', ' m1'?. PsJ-ment. PwDldeiiv ., r..'1'"" vo preaeni ine aama, (CtVniut'.V 'i?.? of 'he said Company. "Minut at., Philadelphia. Pennavlvanta. aoa a, vviiu, Praaldant. ANNUAL MEETINGS swV.S 8ABEln. L. ASko'S, U iti.,ii;w,0Tl,ra n1 Diamond sta, jai . Hietlns, Elertlnn of orn.r. .na ni. v 7"l.;,.0d,,, "",- A new nOUEUT II. CnOMPTON. v mi, . Prealdentl . A11A11V secretary. r-2SSI2""JLACCODNTANI !gjriilille AaeounUnU I "rVYPENCB.E, DROWN CO. fiuATpT ?A7B TRUST UUILDINO PV JOINT0. A5"i.. ADJ UST PARTNER. r .NU DISPlffBD ACCOUNTS. Ttrt, nrmitfzszr .W M.JIJtMiy W,ACM.lfsTT'rii'.,UB JL-EfAf. NOTirK WJ12L, ?Z. ? .".. . 5r eafai.-K;"," .0l.amL"'"iion "" .' all ... .7!l.I'?""." .1VI f vfJ?Si I " payment, and Itlms, to present, the same, with. HABIUWTA ltrKr, lrl Ill.l Aetna Kxploslxes 4 Am-Ilritlsh MfK . S Am Marconi t American Wilting Paper 44 't 1 Can Car & Kdy t Can Car & Fd.v pref . . . . OR Carvven Sleel W li')i IS-") Cliaic'fial Iron . V: Chevrolet Motois I'l. imp Shipbuilding .... ' Cuttlss Aeioplane . I'meisou I'honoKiHph . L Fedeial Djestuff Haskell .v. UaiUer Car. Ilendee MfK Kathudliin Hionze pief Lake Tin pedo Hunt . . . Lauiel till !as Lima Locomotive new . .Maxim .Munitions Mlihale Steel Ne Yolk Shipbuilding. Otis Llevator IVeiless Motois Poole K & At . . , Scilpps-Uooth S S IxiesKe 1 , Santa Cecilia Santa Ceil, la pief Stand AIutoiH St .loelll Lead Steel AllojH Submarine Tilaiigle Film Todd Shlpyaids I'nlted SiiRur fulled Allo.v Steel . f S Steamship fulled Alolois ' Woild Film Wilxht-Alaitln Aliciaft. 1 1 ',4 Zlno Concentrating . . 3 RAILROAD Hock Island common . Hock Island A pref . . Rock Island n pref. . . . Weslei n Pacific w 1 . . . Western Pacific pref. . . Wabash Plttsburuh . . . Wabash Pittsburgh pref STANDARD OIL BTfX'KN Illinois 385 3411 Ohio 3K 30.1 41.1 Prairie Pipe 310 Pierce Oil IS Stand OH of California. soo Stand Oil of New Jersey. 680 Stand Oil of New York. 394 IK i lo 3S'!i ;t :i mi A a; : .14 3H a: 14 7 A 411 11 .1.1 IJ III !, ;i i Vt i.i 31 v IT. 311 (i SI A!) 19 49 in An ' AW .10 T.I li'l K loo mi M inn III ?H I II H .111 4 A4'li 3K 114 IS A.1 IIHij S A so 3.1 43 i 411 V It 3 3.1 44 HA in 31 A3 33 A3 IM1HI' XIIKXT (III, STOCKS Hid Aeked is..lcl 4 44 31 444 39 4 It', 34 4a 393 sjn 1344 305 87 391 Am Ventilla 5A Harnett Oil & ias 3, CosUen Oil & Has 14 Cosden .t Co IA Federal Oil A'. Inter Petroleum t'i1 Houston Oil 17 Merrltt Oil tx i, Midwest till I.K Oklahoma Plod - K . . ml, iH.!Ke liomlnv KTh Ko;it Ouli'h ho Sequoyah I'v Sapiilpa Itef , Slut lair Art), XIISIMi STOCKS Alaska Stand. ml ', i Atlanta IllK LedRe HMiee Cupper la iloi) Itulte Copper and Zinc . Unite N 1 Calumet & Jeiome . . . Cnnsolldated Arizona .. Illindee All. Kiiiiim Consul I'll st N'atliiual Floienin OoldHpId lilobe Dominion lioldlielil Cons , linldtleld Alemer ilieen Monsler Ileela MinliiK Howe Sound , Independence Lead . .lliu llutJei .Iiuiibn Lxlension . . . , Ixeir Lake Kewauas .Mother Lode McKlhley-IitiiaK.li . Mncma Copper Alines Co fif Ameilen. . . 1 Nevada Wonder 3 NIpliisliiK H liny Hercules 4 San Toy 14 44 Seneca Copper 1 3 44 Touopah Intension .... M. L'nlted Verde 3A44 West Knd Con AH I.O., t I'd I, I4i 111 1 'IS, A3 7 l 7-l !l 1.1 77 7 I'. IX .IX .14 '.111 311 3 1144 IA44 .1 lit 111 III 111 II U Ail 44 I IMa 17 A 14 44 .1 I S. 'U 114 I". J's 1 l! 3 41 3.1 117 II ll'i 7 4 '!i III XII 311 A 311 311 .17 .11 3A 3 '4 My. A l'.". III llll II tl AM 4, 1'. ll a AH. 14 44 4T(. I4' l'-H 1 r. 3,1. I 4a lllsh AJax Itubber. . .. in Alaska (I M A Alaska Juneau . . 7 44 Allls-Chalmers Co. 3i)i Am Hank- Note pf. An Am Aur Client. ... 91 Am lleet SiiKnr. ., A Am Can. ... 41 Am Car Fdy Co fl.14i Am Coltun Oil ... 43 Am Hide A Lea pf Alt, Am Linseed ..... IX do pref 1 A3 Am Locomotive . . 71 U do pief In.t Am Malt xi4 Am Smelting .... 97 do pref .... 1 13 do pref II Am Snuff ,.. . .130 4m Sleel Fdiy A3H, Am Sugar . . Inti'a fin pief . . . 131 Am Tel A Tel . 11.11, Am Wool . . 1 si, Am Wilt Pap pf l.1, vtn Zinc A Lend 3A do pief ... 11 Ansconda ... . "1 Ati-hlsou mi', do pief .... ti'ii, All (luir XV I lis do pref Am, Hald Loco Co.,. .11, t Halt A Ohio . . . 71 1, do pier 73 44 Helh, Steel II w I I-1 do ptef ... 11.1 do its Hklvn ltai Trans Ax Horns Hios . .Ill) Hiuiisvvlik hi Unite & Sup Cop 111 Cal Petinleum 34 ' dn pfd ... .11 Can Par 1.13 1, Cent Leather xna, Cello ,le Paeo III Cbe-a A- Ohio .Mix, I'hl HI Western lt Chi M A St P sMt do pief . Iltii. ilil A Nuillivxest 113 C I! I P 1 Its dp ;i;ia Chin Copper . . !!' Chltiii Con Coppei . :ii, Clllrtt I'eaboilv . ill Col fuel A lion. 1.1 Col Has A Wee :i'i i, Consul lias . . . !: Coir Can .. til Colli Plodlll'ts . . . !l4 do pief . . III! CllU'lble Sleel . AAi, Cuba Cane Siiriii 41', do uef ... xti Peeie Co pief . lull Denver A Itlo Ur 1 1 do pref ... :i i Distill Seeur . . . . Kne AX, do 1st juef . . . 311 4 Fed M A S pief. . . 44 Hen Klee Co . . in.1 Oeneial Motois. 1114 (Inoililch II F ... .1A liianb.v Mining . X.I fit Northern pfd 113 lit No Ore subs. 3x4 riulf State Steel 114 4 lusi!iatlnu fopppi ,1A Inlbigh-Cons Cup ii Inlbi-Cus Cup pi at Int Par Ciup, inef 1 1 1 flo,e in A IV 3A-1i All 9314 7.i 4344 34 43 AH. lX4i A3 1 1 44 1113 4i 91 M3 4i nn' 1 311 A3 lni,4 131 13.114 184.4 4AI4 :ia AA 1A), HI3t. (I'll 4 HA', An '.a At 73', 131 131 !! II X tin in IA Ji'i .11 1.13 14 X' 311 1 4 A!l ll. MM,, I III'. IIX , 311 '11 .'! .14 la .14 ', I.ow in A 14i 3AA, An 91 "1". 43 44 3',', 4t A I IS Al'4 A14i In 3 1'4 SOI 113 41 its 130 All I, lnx, 131 1 3.1" j 47', 4.1', 3AI, AA 711', IUI mi', iil-U .1.1', A3U 7AlH I.H4 III IM III A5', 11.1 i, II'. 33', A3 V IA5t, XII .l!,l. All II'. XIII, 1111 iix J'i'f Net rliae 141 144 314 144 4 14 1 44 4 -I 1 I4i 44 44 II 3 i 1 i'i Sales in Philadelphia in A A At A3 1 I'. I '4 I I x Inn 3II7A IAI a 11,1 A4 Inn .Ml 4411 I An An 33.1 All AH4 ll.-.u In 1.1 3 nx Illah Am Milling N44 Huff A Sus I c pfd Cntavvlssa 2d Pfd ICIee Stor Kentle Con 11 Lk S Coin IA'4 Leh Nnv. HI I.eh V Tr 37 do pref . 4A4 Lit SchuM A3 .Miami Cii .11 14 Penn.i It It ait, Phll.i Klee 33 PUT Ir efs 3H Head 1 11 K . 11 1 Ton Ilel 1 Ton Mln A f il I nn4 I S Sleel liui4 War Ir A S 444 XV .IAS .11 W Clamp A Suns 7, lov -44 A A At A3 II II A3I4 sn 4A At 31 '4 A 4 a, 33', 3A4i 91 4,, XIH, I ml 4 'i A3 IK Net Clo.e ihae. A44 I AA I .11 A3 .... 4 1 " IK, I I'd K3'4 44 37 1 MAJORITY OF STOCKS MAKE GAINS IN TRADING ON THE LOCAL EXCHANGE United Gas Improvement an Exception Nothing New Heard on Allotment Wharton -Steel Obtains Strong Management 1 1 16 U A3 31 4 11 A, 33 3X4 l 4 A A . . All's Mn 1(IA 4, 9 44 . .. S3 lj 19 4- t I "till ulr,, XOV1 linre., roimmrril with .13.1 J ,lmre. In.t saiiini,,,, ln, nrr, ;K.IMH1 .Inue.i lal week. Hl.llin .Imrr.. I1IIMIS IIUIl Low 1 114 4, I 'to.,. 1114 '4 V-t , he Ma I Slnnii Hald 1.0c lt As ,l .110111 Hotli steel Is 13:' 1711011 1,1, s In To. .13 .1i, ,1' ,3 Jiiiio l.li Va nn I'.., fi'.M leg I llll I, .mini pc gPj. hi; I unu PWAlit, t- titi.i, limn Pli'ico e ",, no 1111111 no 1 mi s 1111 i, nii4 1 n 1 u , t, 191 Phil K 1 Rs iiiji, una, mix, - i 3I111111 do 11 ."isni nil", lui'i, tnt, aiimi vx els i 'o 0, ji7 1 , 1171, 117 1, ..... I3J'. AM, HUH, in: in 4 tin I'M'. .VI too I, 103 ll'ia. illl lolill nlr X77.IIHI. fiiiiiinirril wllli X!7 Sim lu.t s,iiirila Ihl. week, Mll.llsii l.i-l nepk, k0.11.Xim X44 444 l.1'4 444 39 in no.siis Cudahy Bs Cerro de Pasco 6s I Cosden Oil 6s . . . Cnsden A Co new 6 s French Munlc 6s . . . Mldvnle Sleel As . . . Ilusilan 6's' . 99 9944 .114 HI 10344 10344 .101 10144 9.1 9A44 9A Russian 544s ; K444 Sinclair Oil 6s 110 Todd Shipyard 6s 100 Western Pacific new 5s.. 8944 IT S Ilubber new 6s .... 9H XI 39 1 III 39 AS 311 39 AA I0A 9B44 A 0AH 83 9A44 OA44 9A A44 1I0H 11044 101 89 V. 04 91 LOCAL MINING STOCKS TONOPAIl STOCKS nid. .OS .ID .14 .33 .14 .37 MaeNamara Midway Mlapah Extension Montana Northern Htar Rescue Eula OOLDFIELD STOCKS Blue Bull Booth f! O D Combination Fraction Dlamondfleld H B Dalay Sand Ken 03 Silver Tick 1" H9,r,UllAil.uut Aril United Edea Tecopa Mlnlnr .nt .09 .M .04 .1)3 .03 lOU .All S 9-18 .10 aked .in .St IA .3A .1.1 .03 .in .III .08 04 .04 .03 .1)1 .18 .ii :, .14 RAILROAD EARNINGS HOCKINO VALLEY lain I8A3.890 I8S.07O s,Btn 4.AA8.83T 1,878.898 I.1I.18.DD.-V Increase 1108.543 17,3111 34,883 7HX,K94 144. Ml I 394.361 December srosa .... Net ...1 Surplua 8I1 montha1 sroaa., Net CHESAPKAKB AND OHIO v.... .rutin nAstmber Sta Opar.tlng "Venue... .149.834 312 TSrpluini1Sr int.. etc... 7.AA8.882 Sugar Hlcher in New York NEW TOIIK. Feb. 17 Fine grnnulnted ,,,r firm t 7.50c. B. H. Howell Son chwj " "XJtr: fflsre 18,333,470 3.9S3.431 3 090,7111 3,A74,8A1 1,33.1,8A3 1,319,009 NEW YORK COFFEE MARKET NEW YORK, Feb. 17 The market for coffee futures opened steady today, un changed to an advance of 3 points. Trans actions on the call amounted to about 6000 bags. The market became a little more active and steadier after the opening on outside buying, some of which "was evidently for Kuropean account. There was some further switching March to December at 47 points. The shipping situation in Brazil was said to be a little easier, but firm offers were a little irregu lar. The local spot market was unchanged at 10c for Wo 7. Today's npenlng, reoruary Today's close. Teaterday'a rloae. 8.1A8.17 alarm ..... in n.ivo.a ,.iui'n..'i April - .. . 8.28.3T May .8.340837 8898841 A33&R34 June 8.3X08 39 July 8 4488.48 8. 60O6.B1 J,.43(tN.44 Ausuat ;,... 8.488.4 September .. 8 A4 8 8708.98 8 6208.14 October 8.1X608.57 November ..8A0 8A7g8A8 8.An8.AI December .. 8,6608.67 8.7108.72 8.64tT8.6,1 January . 8 6908,70 Bid. DIVIDENDS DECLARED Republic Iron and Steel Company, uaual quar terly of 14 per cent on Ita preferred and 14i par cent on Ita common atocka. Tha preferred la payable April a to boldera of record March 20 and til" common Msy I to holdera of record April 20. ., .. National Candy Company. 11.80 a ahar on common stock and usual eemlannual of 13.80 a share on each of Ha first and etcond pre ferred stocks. Mains Centra . resnlsr. Quarterly of 141 wr cant on thtmreferrjil stock, payable March 1 to Tmiraik 'W "? ii Tw'iamsK-aam ass. aasi atisv wmmsmm JHsvsiim. lilt Me i- Mai do pief Intend Paper do pit f lilt Nickel Jewell Tea . . Kan Cit So . Kelly-Spnngfleld Keimecott Coji . Kings Co IM 1.. . do 1 IglltM Laclede Cns . . . Lehigh Valley .. Long Island .Maekay Cos do peef .Max Motor . do 1st pief . . do 2d pref . . Alex' Petml do pief Miami Coo Cop Mlssouii Pac etfs .Mo Pae w I . . do pief vv I National Hixctiit Nat Knainel A Std 34', Nevada Con Cop '14 N V Air Hrake. N V Central N V .N II & H. Norf A West . . . Not th Paclrle . Ohio Fuel C Ohio lias . Ontario Sliver . . Owens Hot do pief Pacific Mall Penna it It . .. . Peo lias A C ... Pitts Coal ilfs . Piesed Steel Cat do pief . . Ity Steel Spig . . Hay Con Cop Heading Hep lr A leel. . . do pief ... Seaboard Air I. Sbattui'k Ail. . ;; Sloss-Sheff St A Ir All Southern Pacific 11:1 Southern It It . 3x' Studebaker . ... llll Tenn Cop A Ch w I I A 44 Texas Company . 233 Third Ave 11 II . 1114, Tobacco Products. .13 fnderwood Typiv HIA fn Hag A P new nn fnlon Pacific ..I3x fnlon Pacific pf X3 I'nlted Clg Stotes 91) I'nlted Ding 14 I'nlted Fruit III I' 8 C I r-ipe A F 311', do pref . . A9 C S Ind Alcohol' 13.14 l' S lied A Hef pf f S Smelt A Itef f S Steel do pref Utah Coppei Utah Sec Cop . Va Car Client Va Iron C & C . . Wabash do pref A do pref B ... West Maryland . West Union Tel. Westlnghouse Mfg. A9T4 Woolworth 14.1 WHeel A L K w I 18 Whl & L E pfr w I 41 White Motois .. 18 Willys Overland 33 Willys Overlnd pr 08 44 Wis Central . . 41 Wilson Co 61 3A", it'. 3X 97H 11 A I 44 3 1 a, .11 13', I in 19 73 '4 4(1 X9 A 6 4, .1.144 A 8 44 34', X74, o: 3744 111 'IK',. A3 44 lit) 1411 9A ' 39 13X44 I tit -13 99 44 A', 1)9 11X4, 33 Al 9 I 14 1.1 'u 7.1 ' lll.1i, 4X'4 38 ',4 II I 7XU, IIIM, IA .11 . AA 106', 117 .109 301, 30 . 484, . 13 49 - 2A44 . 31 . 94 711 IM, 39 l.'M, 91 tM, ll. AM, III X7, II A 4, II .III 31'4 in -in), 13 '4 IH1 llll X .16 1 4 XI 113 3." 1131, A1 I3T, All, III 3.1 119 4, 3X 117 411 III 31 .13 43', UK 781, tl Hi's XI 4s A 6 1, .1,1 67'. 34 44 K7 93 37 ',4 I ll'i ) A3' I HI 3J 3M4 1141) !l.14n 3K I3X',4 IIM AJ 9X 8',. II'I IIKI, 23 .11 ill 4.1 7A'i 1 11.1 44 II '.i 'MX, III ', 1A'4 HII4, 1.1 3A. AU 4n 9-Ms 3K4, 1113 1.1 2 ill ), .IX 44 13 10.1 9A 131 X3 9K II I III 30'4 -19 134 A3 A.1 HISTi. 1114k 11 2044 31 .48 44 12 44 48 2.144 2344 91 A044 14244 1144 4,1 41T4 32T4 0844 41 61 4.1 3!)', III.' HI II Km, nil '4 14 3M, !A'.4 2A', 3!) 1 4 I3'4 I A.I IIIM, AA HI I 1.1 3i4i, 114'. ,1A'4 1314 64 III 26 IM, 3X 97', II s. II M, 2 I !4 .11 13', 1 Iff M. Local Bid and Asked 19 12' 4 41144 xn 8'4 .1.1 61', 34', XI4 92 3?', IU4, 2K n.4, llll .13 31 llll 9A!4 3K I2K", 1114 A3), III' '.4 6 44 'ill I IK', 32 AH. 91', 4.1 li 7.1'4 10.11,1, IK4i 381, 9 I '.4 77 44 in I 44 1.1 27 llll 1134, 3K llll IA'4 3 i I 44 3X44 A3 HIS 98 I. IX X3 8 4 7t III 30',A A9 12.1 A 3, .18X4 10844 111" 1110 3n44 39 4844 12 49 2544 21 91 Am 14344 18 4.1 48 33 S844 41 61 4 3 . 3 1 4 - 44 Va -t 44 144 4 4 I '4 1 1 i 1 '4 1 r 44 4 3 4, 1 4j t 44 4 3 '4 I 44 I ' -144 1 4 3 44 4 2 1 4 1 1- 44 4 1 44 1 44 74 44 44 t 4- I T. '44 44 44 Total aalea. 269,800 ahsres, compared with 162,000 aharea laat Saturday! (hi, week. 1,581. 700 ahareai last week, 4,267,300 aharea. Copper Consumers Increase Rids NEW YOBIx. Feb. 17 Consumers of ccppVr are gradually Increasing their hid prices, for early deliveries and, are now willing to offer 37 cents per pound for car toad lots of electrolytic. Some dealers quote third-quarter delivery at 30 44 to 31c, but producing Interests say that they will not iccept less than 32 cents per pound for this delivery. The nominal quotation for prompt delivery Is 3644 to 374ic, for March 35c, for April 34c, and for the sec ond quarter 33 to 34c. Record Price for Lead NEW YORK, Feb. 17. Two car loads of lead haxe been sold at the record price of 1044o per pound. The American Smelting nnd Refining Company today qu4ed 8 He per pound, while Independents quoted 944 to 4o for prompt and February delivery, 44 c for March and 944 to 04o for April. 'WasftffiK?-'- 1 3 4i . 1 ' '. r I 4n I 1 1 2 '4 III II 1 I! Kun., I,, .1 .-'ii,,, 1 , l" prt-f t IIhMhIii Eli 1 lili -li.r..tt. Ibtll'lill X,iti.ill llll l.ref KevMune 'I eti iiht.ii Luke Supeiltir I'lirp Lehlsli X.iMhhIIuii lehkh Xallet Lehluli allev Tr tlo pief Pelin-VlvaiitH I'lilla Kle.lrl, I'lillu I'o 'In .1 per lenl pref .'!',' "..''.'.v t"1" 'r' I'llll., II I I I IteHilllli; T11llnp.H1 IIpIiih,,,! I'ltlnlMli Mliilnit I nletl 'I J Arllrm I' ll, Imti I' S Sleel ' Vnrk Itnv lo pref W m Cramp l Ii 1 11 I Jo 1:1 .1'. ."I AC, l.ll. X e,leriM', Hid sk.-. :. 11, 111 l'.''i 1.1', l."v I.I Is. IsS 17 I7'4 S3 s.T, ,1 si 7-.' 72', 71". 72'. -'il', I'M- '.''I L'HV, i:. ii ir.1, i.-.v, .ii". ai. -.c4 :; .!." .n :i-.", :i.'s :i .i'i as :i'i .Hi .i'i an :i'i 41 '1 12 III', It i.j -". 2S', 2sV, jsij 1'1'V III', 'Il III'" I'j 1 I'll ! 'I'. ', ill. ill. I.I, 13'a 1.1 ITv SM1, 1,0 l l "I".1 lull', lllXN lil.-.s. 13 14 1:1 i:i4 "I 17 3i'4 .17 New York Bond Sales ll.'iMlllt -'Ijllliu InitiiM I.JIiUM lsiiun 'JIMM, 1 7nno I ItMMI t'lnu Mum .'tMIII 'I tIMlM 1 f II Ml "nun LH(MI IlllMIM tnfiti '.'Mllil 1 iniiK ."nun ."nun 'Jill HI :innu ltion HKKI .Mhiimi 1IIIMI Imiiiii KHHI 1(11111 tlMMXI IHIIOd 1M0MU 1(1(111 ;i 1 immi I.IMMI KlIMI l' Hit in I'I 1 1 Ml ItMMI (illllll IIMIHI 'Mill III ll'.'itlll J. till III llinni lniKin ;.iiMM ;t'iMni IL'IHIII trim 1 Tnim aiiumi .'inoii Jim 11 1 ' .'tfiiin TIM IM Tmihi I tlMIM .IH III 1IMIII SOU1I llMIII SIMIII II nun 1IHHI KHIII .'illllll L'DlHI 1HMMI 1 IMHI sfflMII ItKMMI i'Ullll 11110 .'Oil 1 1MIIIII L'IMHI 14IOO .'not 1 toon loon Jill Ml .jot III 1 moon lono toon lono 1)000 I IMHI .'noil 1 20iiu UO0H 1000 taoon 34000 20000 IJi.IOOO 111000 1.1000 sooo soon 1000(1 4 000 inoon 1000 1000 AmM Br ,e.l, 5 ukU him h ;, Am r.ifin n, ., AintM T. I :,, Am-i in H, ;,, Arm. mi i 4t ), , Aichliun fcen M Atrlilwi.n .nl j ti XtlhlHiiI, n i ;,M A I l.i 11 I'ii l.ln.. In, i K.ilt & 1 1.. :V7n In . I Im , ') . I',. I 'ill MpH Mt ;,i 1a iM ;. llnuli Mis. Ill.'t loj til -i rit.M loi S'I al wit tipiH rj'v 'li'a J 1oi4 loo vn i ;n .."t ;, int. i !I0 T I JUT, v 4'in "U !U I" .. 701 Int. A . .t7 "i fll im . 1IJ in; 1IS'3 t'dii xJmt tin : nut, ! .'ii 11M1 ' MM t Vnl I,',,thi' (V11I Vav Int hlll ('oitiifr fhf & uhlu i no v . Chi 'Il W(m 'Ii I II A U jo 'I'I Wfll it C M Af .M i llll C ."Mi in 4 llij'i to iv 4 'a n Thl It I A i ni.i'sp 11 in ; i'hl ltw Zt I'ul A N.iulh Ut In 'lt nf I'riris j. . ivi I" a 1 kfti .. Cuintfrldiii T I .". Dctinlt K.I I so Ii ImI ', Oftioll tl.iH ;. ) S(lir ('nip a'lM II ml gr Mini In ;. tin im r.M Imtlfliia Mit llitrrli Mel 4'iM Intrili It T irf .,.. Inii-r lrr Mnr !i K 1 I'I S A- XI i Kbit I'll 'lr tfi 4- ,!x Sli ile-l. In Ui'jv In ! llt'tl T.m llliinl ." .MUli (Via ! 4 Minn Ht 1' S H 4 .Muiitun.i I'nWfr t,n V i' A II aii Ii tli I'VK N II A 1 C .1lH ohS 111 !M !.( )on 0TH mi' h'1'4 lii'a nil m.tv lis Ifs'lJ 1'.tn llll", 12', 11.1'. I'll', !'.' !l I'll', I, III '7 i si. H7'. lis llll': till 121.', Ml III 111'. 1I7S HI ' llll III', lis 7ll t'7 ni ni', i.i Inn IOC. Hll't il",', lo.l'. In In N V ilii N V N S7' ir.'. I.il'i till Hill HA'. i.l'v lot', tin ii:i. nn', s.-.i, lns4 I'll'. II, .11111'. I'll) llul & VV let In livw ief I, ,,H'. Iti Hill .1, .... lis Xi.rf n VVem i'h Ii, mi', i'i I, . n I'-. Nor I'm lieu 3m ... II'I'. Die SI, ul I I. lei 4, IM Ore ll .( .V inn 4s. Il.'l'j I'elili.i ..'i! 4' M I'll '. I'lllille S. IV N J .-. . . HI KeHtlitlK sell 4, , 11 C, Itepuli ,'u.ij .', Hull. US', Hep A S .'. Hill', SI I. ,t s f ,,t 6, . 7l'a In I, Sir A . lis', in :,h sei ii sr, S .V X p I Kl 4n 11:114 Srsliu.ini V I. ail A- . il'.", In rfil 4, .. l'.7i, Smith II, II :,. I'll Smith I '.. 1 it 4, s'i'., 1I11 M I, !ll. South I'ai v ,' Urn'. South llvvv ken 4, 74 Smith lU' inn .' tnl". South ltw St I. la . . 7l"i Texas I'o iv li. HIC, Third Ave ref 4 77 Tlilrrt Xve adj Sa. . US'. Trl-Clu ,1, pin t'tah I'ow t ft As. (If. i; S rtuhher As 111.". f S Sleel S V A . 10.x Un His Sl't' . US f UnHinll A" 97', An n'4 1018 . 0S, An fi', 1II1D nw 'IHX. .i.i r.S mln mn, lo .llja 1921 t'.-i', x' rtwv, nn n Wb-P T tut ft f pd 4 .11 XVe.t Rlee fia loj XVesl N Y Pa 4a 8.V. XVeat Shore 4a nn Wheeling I. F, 4. 80 1.11 31 'in'. Ill's l.ili. H.I 111', I'll's I'll', 114', HXl, lull', 71', us', s.-, Si; il7'4 llll s-.', lil. Inn', 74 loi, 711', loi', 77 list. Hill H. 1II2, ln.-.i, 41 97 '4 ni'; 98', Hit', ll.1V, II H, 32'i 1112 8.1'. 811 '4 80 H.I'. n:i', S'l. Hi-'. i-js, ll.l', l'H' '-'X, HI I'll'. Hill '.17 is !'7' ts 7 it I'll', '.HI 12B'. Ml HI 71", Il7. Ill II." Ill.l HI1, IIS v., 711 II"', III ll.l', I.I lllll I'M'. Ml', I'I', 111', II.-.', I'M1. Us US', HJ tl-.'k HI', I'll', llll IMS li'H, Ml . lll'l I'll'. l.ll', 3s Hli', 1 1 1. I'.ll'a HI tn'a 1 I'll', nf. I'M, 111"', 71', us'; h.X ll.l', .", 117'x I'll hi; IIHII, till'. 79', I1111, All. Inn 9.1 ln.', Kill, II 117', IKS nin iin, n.-i ', I18S 3.1 H2 81' 8(1 Tnlal enlee, 8l,.1.1A.nno, romparril wl.li 81,788. 000 In.t Nntiirilati this week, 8l3,Ain,onO Ih.I week, 30,K18,O0O. operaincTtrouble hits steel industry Coal Shortage and Railroad Con gestion Cause Officials Worry Business Good While the slock of the I'nlted Oas Im provement Conipiinv attracted much atten tion In the trading on the Philadelphia Stock F.xclnuipe dining the short session toda,v, the movement In price was the re. xerse of the general market the quotation being below the final of last night all through the two hours. Starting with a loss nf a ltalf-polnl, this was extended to more than n point, but some of the decline was recoxeied before Hie expiration of the III st hour, but in Hie last hour It hit nu mber low for the da.v at 89'j oft I1, fiom the close of xe.teidH.v Nothing new on the tnlked-of slock al loliiient, 011 which the slo.'k advanced In the last few minutes of Mailing vestetday oilier than that the allotment would prob tildj be lu per lent. vva heard In the stieel The loiiipan.v . it Is understood, will need nililltlon.il fund, to carry on busi ness In the coming flsiat jear. Nothing otllclal has come from Hie company's of fices, but there aie eel lain Interests lu Hie stieet who are of the belief that a stork allotment will be made nt par The pie-ent capitalization of the ram panv .is jr.A.riiij 'iBii. nnd a leu per cent allotment would nmouiit lo to ASO 29R, and the ilKbts of the piexent xUn-klioldets would be xx 4 1 III about J.I ('.!'. llRiuIng the right on 11 mat k I price of 'in',, fin Hie old sbatcs II Is iit"ess,u.v fot the sloiklidldeis lo au thotl7e no ineiease in raiilall7atlon and as the niiuiial meeting oiciiih mi the fiist .Mon day In .Mux, the ptopol'lou to Imte.ise Hie 1 .1t1ll.1ll7.1tlm) would have to be atiuoumed slxlx ilaxs lipfote th meeting ai-coidlng lo the Pennsylvania law As slated above, the movements In ptlce. In the remainder of the llt were geneiallv to liigbei levels, gains of ns mueli as point being made In some Issues t.ehlgh 'nlle Ti.itislt sliates were i.il tlcul.il Iv slrong Hie emiiiiion and iirefeired both gaining n lull point lu loiiins-tlon vxilh Hie stiength IRREGULARITY MARKS TRADING IN WHEAT PIT Prices" Pass Yesterday's Close; Then Recede Cargoes Ar- rive in England i.uxiN 111,1.1' xi: xi 1iF.1t KiitKc.xsr IIIK XI. II. leh II I he weather fore, a t fur (hirl-slv lioiirs follows; Illinois nnd Xlls-iiiirl - I nseltleil lotilcht mil sunibiv. prnliahlv Miion, ilreldeillv rnliter. with 11 iiilil wave v Isrnnslii denrralb fair tlotili;lit, unit siin,la iniirli 1 oliler Xllniiesolii fair lunlslit eml pruliahh sitniiav. , oilier liinichl. Iowa I lisellleil linilalil mid iniibo. proliiihlv .nowt inn, Ii tnliler lonlelil Norlll llnkotii (leneriilh Inlr. loiillmieil ohl IniilEhl anil siumtii smith llikota t'lisetljetl lonlalit anil sun ,la, , prolinlilv sliowi fnhler IiiiiIkIiI. Nehraski, I'rohalib snow tiinlsbl anil suriiluv, ninth (older. KiiiisiisI lisellleil Stili,!iv, niurb rolderi rol,l wave exiHsleil Siin,l.l. CIIICACiO. Feb 17 A feeling of neiv oiiHiiess was In evnleme ngHiu lu the wheat market loda.v Theie vjas M-altered llqui datlnn nt the outset, but commission houses did some liming ou pteillftlnns that traffic conditions would i-oon Improve and prices milled above .vestetdu'H -lose, although the) again receded Alnv stalled at $1 7.11., In II 72'.,. against $1 7.1 at the end .xesterday. mrjxed up to $1 7.'!V Ihen declined to II 73'i. July vxas quoted lit $1 4ii, to II 47", at the opening, against $1 IX',, .xesterday's last price, and, after ialllng to Jl.4S si gged lo $1.48. September stnrled at $l37f, to $137, compared with $1 37. the final quotation of esleula, and, uftct touching $1 38, teieded to $1.37, The mat Let nt Liverpool was dull and easier oil expectations of laiger airlvals nbio.nl and u belter outlook for shipping Sexenil caigoes anlved nt Hritlsh ports x ( stetda.i . The weathei lu Kuiope Is cold and It Is div In pails, theie also Is a lack of snow I'll, ixelpls at Minneapolis and Diiluth to ii.iv weie 217 cars, against 45H cars last vim, at Winnipeg. 2,1h cars, cuinpaied with 37:1 ciiis, at Chleago lift) -three cais loi.ttasleil wllh 16'.) cats Coin op.'iuil easier. Fixe cargoes weie soli foi expoit xeslerilay and this checked sePing The lecelptK heie today weie 158 cms The maiket at Liverpool was linn. uats weie hteady lo firm on stiength in 11 cash position The leceipls bent, toda.x wile nlnetx-tlxe cars. Flinuiess a. 'noted at l.lveiiool LeHillllK future, IHIlceil aa follnwa: Wheal linen Illah lai I 72', 1.7.14a lull I 4S'. I 4ll, s.pi I 37', I 311 I'oin lliew th llvei v ) l.is I of. I of, JIIH 111)'. Il.lt. xin . .':'. Jul Al'-. I ..11,1 II. . 1117.'. Jul)., tills? Itlba .Xluv . I A Ml -t 111 V I.I I'll I'llll .XI a . - !IA Jillv '21 .).- Illil tA.Ue.l llll'. AU'. 34'. Low I 72', I.47S I 37S 1 llil I'll", Al!4, A4S I'lnne. 1 7JS 1.411 I as', 1 III'. 9l)S 1.M1S AC, 1 1! M III H7 1.1111 .111 17 ,"l .ill 111 72 I ii sr. IA.7A Ki llll 311 ill 211 40 III S.I HI HI 1.1 If. 1.1 91 t.'lll 1.1 211 Ml Yea ,'lo.e 1 73S 1 4X1, 1 37S 11 III tin', .VIS I.'HS III 111 ill 82 1.1 7A tir. sfi 2 91 211 All NEW YORK, Feb. 17. About the only decided changes that might be recorded In the steel market during the last week haxe been the Increased operating difficulties nnd the' fact that rail orders hnvo come to the makers for dellx-ery In the last three months of next jear. So far as operating difficulties are con cerned the railroad situation still continues a factor, but with the extremely cold weather the coal shortage has become an influence In steel operations Price changes made during the week were all In the line ii advances, Pig Iron has moved up In some sections and in the Pittsburgh district finished products xvere put up 30 to 25 points. All this seems to show that eatnlngs will he at a high rate, A prominent official of one of the large manufacturing companies expresses the opinion that the export business of steel makers In this country will continue at a record pace despite the fear of several weeks aro that the German submarine policy would prevent shipments from this country. He points out that as the Allies have been large bujers here they have taken "' of their, requirements by suppl? ttjo tUl ,; .k. Jul ..,,:: V V f ....... -mTJ- -y,.. - ",T .- V -i - HOLIDAY CUTS CI.KAKINf.S Lincoln's Hirthday Causes Drop in Banks' Business for Week Owing to the Lincoln Hirthday holiday this week theie xvas a diop In the bank dealings tluoufclioiit the country as coin paied with last week and the corresponding week of last veal. The total for the xxc:. ended todav was $4,678,416,478. against $6.22!i.671,676 last week and $5,038,826,548 las year Details follow. New 1917 10111 York 12. 113.420, 107 l2.652,H0i,SM . .1.19,371.104 22K SHll,7:i4 is,t,i-ui,s:iii 119,318 887 nn, 1110,40(1 114,718.1)01 40,933.000 ft'.MHKi.SlA 3D 0.17.284 33.438, I3n f C -211 3 SI2,B6K,n7n 4.8 248.44V. 120 7.1 1X3, 374,013 (1.1 II9.87A.B7.1 42.1 76,110,966 26.9 80.862,401 fl.S 39.7A9.171 2.9 AA.3IA.28t 0.1 37,22.1,960 19.3 22,139.809 61,0 Chlcaao Philadelphia Huston Kansaa Clt . Ht Louis s. Kranrlneo Detroit . I'lllahuruh Halllmore . . Now Orleans. Hleven cities rive l-i- .13.303 084. 573 13,787 090.919 12.8 Other rltlea five ,laa . A08.925.417 ftOO.403,288 17 Trial rltlea. Ov dasa . J3, 811.9S6.990 (4, 287.491. 207 11.1 All eltlea, one day 806,429 168 741.332 341 1A.9 Total all rltlea for week ...11.878.418.478 15.0:8,828,548- 7.0 FOREIGN EXCHANGE Nf.W TOIIK, Feb. 17. The market for foreign exchange showed a continued slug gish character and, ns heretofore, business was only conducted on actual orders. As a lesult quotations were almost without significance as indicating the immediate future. probabilities. Demand sterling sold at 4 75,. the low point nn this immediate movement. Cables were, unchanged at 4.76,',. Helchsmarks, Vienna and pesetas were steady, xvhlle lire showed a loss of 2 a'3 points and rubles were easier. Quotations follow: Demand sterling 4.75 A,, cable-! 4 76 7-16, sixty-day hills nominally 4,71 Vi, ninety-day bills 4.70. Frano cables S.S3T. cheoks 6.15. Vienna cables 11.02, checks It. nelohsmark cables 68 , checks 6144. Lire cables 7.24, checks 7.25, Swiss cables 6, checks 5.01 '.J. Ouljder cables 40. checks 404. Pesetas cables 21.18, checks 21, OS. Ituble cables 21,68, checks 28,60. Stockholm cables 29,58, checks 29.45, BAR SILVER Last Today, r. Vm. Slat. i,i. 'fjnmm, faiii of the stock, a letter was received by hold ers today from bankers Interested In the merger of utilities properties recommend ing the depo.lt of the stock of the com pany with the Olrard Trust Company. The common stock Is to be taken liv at $28 and the preferred at $48. The holders of a majority of the common and preferred stock haxe agreed to deposit. Lake Su perior turned the most active In the last part of the session, advancing i;, while the company's 5 per cent Income bonds sold up 3 points. It was learned today that the first ot the new open-hearth furnaces ot the Al goina Steel Corporation, the chlet operating subsidiary of the Lake Superior Corpora tion, has been put In operation This fur nine will haxe a capacity of about 4500 Inns monthly The second furnace Is nearly leadv for operation, nnd the third will be completed befoie the end of the summer. Lake Superior will pay orf Its $2,500,000 lluee-.xear notes which matuie on March 1 A stiong list of otflcei. and directors has Ixrn obtained for the Wharton Steel Com pany, lecently purchased by .7. Leonard Iteplogle fiom the Wharton estate The officers aie ns follows- .1 Leonard ixep. logic I'liAlimiin, Harry S Kndsley. prel dont . I Townsend llurden. vice president mid neasinei . Krnesl lllllman. xlce pre.l dei.t . c Wennei. .ecietary. nnd F II, iM'ilon. general superintendent Tlie illieclnrs follow Mr. Kndslev the incident, llairv Paj tie Yx'hllne.x capital l"t ' Charles MacNelll president of the ftali Coppei Cotnpaiiv . James F flanncry, president American Vnnadlum Company, J. lingers Flannerv. a director ot the Amerl ( Vanadium Cnmpanj , I, XV llaldvvlit incident fniplie Tmst Company oC New olk. Mr. Hiitileii. the xlce ptesldent and tieasuier, and L. i: XVntlng. a member of the film of chandler Brothers el- Co Tlie plant of Hie compan.v is al Whailon, N ,1, BRITISH PLAN NEW COTTON STATION Washington Advises of Move for Inspecting Off South Atlantic Coast NKW VOHK Feb. 17 Karly Item, of news toda.x showed no particular change In the geneial situation o far a. It may lend to affect cotton values One Inter esting featuie. however was the statement fiom Washington that the British Admiral ty was. planning lo open a station on" the South Atlantic coast, presumably In Ber muda, for the pui pose of examining Amerl-i-Bii i argues nnd. thus saving the vessels llie.long lour lo the piesent examining Ma tlon nt Halifax. Such a station would be. of palilalia!' benefit to cotton (aiilers. The Inatket heie opened Indav steady at an advance of I rq 5 points Business at the start was the smallest in se,vetal weeks, suggesting that commission houses appealed to be xer.v laigely evened up In their accounts. New crop preparations, paitlcularly In the eastern cotton States, aie being delayed by fieqi.ent rainy perl oils, and tills piobahly explained the iela tlve stiength ot the distant positions. Some furihei March liquidation was. also In evidence on the opening, and later, hut prices dining the arly tiadlng showed little change from the Initial level Itecelpls at the polls for the day were, estimated at 10.000 bales, compaied with 17.539 bales last week, 24,059 last ear. 45,030 two years ago. Yes close Open Ifi.SI 15.82 . 1.198 15 92 1 8 114 1(1 II-; 1.1.117 13 HI . . 1.1 87 1,1 78 1,10.1 March Max .lulv October. December Spol lllsh 1,nw Close 1.1 94 1.1.8.1 1.VK1 IS 118 1.192 18 01 tA HI 1A.0II 18 07 1.1 72 1.1 82 1.1. AA 1.1 811 1.1 7.1 1.1.79 I. 1.9.1 Cotton Statistics NUW KIRK. IVb. 17 -jTb stall, tUal posi tion of niltoii aa made up by Saturday's financial Chronkle I, aa follows Thta vv k La at wk Last yr. Total visible sup ri,2ll8.HTI .1,31111.382 .1.S1IH.261 Of whllh Amr 4.1.17 mm 4.233.3A2 4.171,281 Tol alsht 'eli HI 9 7.1(1 3S7 II .ISO 3V.1 S, S5il.ll.14 i ' NEW YORK HANK STATEMENT Aerni;e Loans nnd Demand Deposits Drop; Actual Greater N'KW YOP.K. Feb 17 Tlie New York bank statement this week shows large declines In the aveiage loans and demand deposits, while theie weie good gains in both these Items In the actual figuics. Time deposits weie somewhat smaller in both stnleniente. and the aveiage surplus diopped while the actual Increased De tails follow: AVKIIAIIK lie, rease l-i'HIi, .l 447 23.MI0.I 12.1, I7A.IIIIII Net ileliuinil (lelHislts 3 .",1)11 1118,0110 311,9 14, HOtta Net Illne leKi,lta ll',.1,1N2.o,ill I 241, nil,) riltlllalliiti . 2S 818,01111 ,14,1100 deserve, own vaults '.Mil iik.1 unu 5,9211,000 Iteseive. Fed le, bk, Is9.97r,,ll0li ,4.0011 Heserve other depls .111.1119 mill I 362,00,1 -XuultKHtH reserve 7112,077,111111 7 328.11011 Iteserie requited lill.l. '.'(ill. 9411 .1.rtl",30il Surplus . inn Nlii.nilu I T.)S.7 (or whlth M.l.'l mi unu I, pe(e ACTl'AI. Net demand deposit. Nel lime deposit, llll IMl.lHIO K.lll 0(10 I'lrriilation 2s 71.1. linn "2.1)011 Heaerve. own vaiill, t.'i2.1 91111,011(1 .1.247.000 Heserve. Fed. le, like 19.11137 01111 1,118(10(1(1 Heserve, other bank, .1.1 7(in.onii 1 llJ.non Asereaate leaerve 7711 8114, SSS X.knl.flOII Heserve reuulred 1110 11.111, 7MI 944, Mil Surplu, Ill.l 711 1 2211 '12.18,470 tof whllh 1404.. IMI limi la aperle Increase STATK, I1ANKH S.I 4ll,l.ll2.mill34 72S.II01I 3 141 1117 "on MO lull, (ll)l) Loans, Investments Hold I'urrenej. bank note, Dennalt, Heserve on depo.ll Ii -i rea.s,. $7.288,lino 1 318 lino 182.8'in 3t.Als.iinn Vfcll'l) I39H. 21ll.umi 58 172.1011 27. .ion. son 551 732.000 131 840.701) rercenlaa, of reserve. 29.3 uer pent Inereaae. 3 per cent Tltl'ST I'OXtPANtKS Loans, Inx-eatnienls II 718, 38.1,1. hi II .127 mm Hold I All 310, Ann 7,409,001) I'urrenrj bank hills 22,278.9011 'H.MI..WI Peroalts 2 1II4..I43.30() 34,1197 100 Iteserxo on deposit 417.307.401) 11.439.200 Percentage nf reserve. 23.3 per cent, deireaae, .3 per tent. STATU HANKS AND TRUST CO.MrXNIKS ;sui ur.i'imi iixi ,u i i.t-Aiiijsii iiuwsr. Loans, Investments noia Currency, bank not... Tola) deposits Net deposits. . Heserve on deposit Percentage of reserve .8 per cent. increase. $7.12,959,91)1) 118,603.801) 11.041,70(1 1173.913.400 mis :rn .'on 242 XS.1 POO 838,'.'(IO 799,7011 inii.mu 0.422.900 3.946,700 7.. ni oun 31 X per i nt. deereaae, Money-Lending Rates PHILAIiLl.rillA Call, 3ij per cent Time, 44', per cent. Commercial, three to six months, 4 0 4 4 per cent. LONDON Money on call was 444 per cent today, a decline of V, of I per cent, 'the rate of discount In the open market for short and three months' bills waa 544 per cent, unchanged. ( BANK CLEARINGS Hank clearlnia today compared with eerra, apondlns day laat two yeara: 1917 1918 1915 Philadelphia. IA2.938.664 t41.A41.72A 134.341,08: New York,,. (IDA, 422. 52.1 470.990,593 2M.A.17.45H lloslon 46,704.474 86,754,68.1 23.638.0S0 LIVE STOCK QUOTATIONS CHICAGO. Feb. II lioas n.celpta, Sooo head! market atront, 6o hlstier XlUed and butchers, 112012.451 sood heavy. I1212.4.X rouih heavy, tin.lont2.20i Usht. Ml.A.lfJ 12.J0! piga, tn 4oein.in;bulk. 112.15012-40,. t'ATTI.K neeelola, 80.1 headi market aleaav. Ileeves.'t? 8.1012.00, cowa and h.lfera, 1,1.20 10.40i alofkera and feeders. 46.250 9.20; Teians. I8 75K9.75: calvea. 19.78614 " BI1EEP Ret-elpta. 7000 head! market slow and weak. Native n4 western, 1112( lam ha, 112,40014,75, ' NEW V0RK BUTTER ANp EGGS . NBW TQKK. Fi,b. 17 BUTTER II .am iur.a, rtTf aiaafiy, pjo jfoyrj m r ': ! im 'mn fikeS .1 -17 4 :T' . :mmm j w v." - ' JrH I if y . ,-K-i, .-''-) ;" .. ff . " . ' . " -..-. . Sak. fckV.J 4 .-'''-iLi.-.., rviiW- 1 1' i'sVii iiTTfaltfflTif 1' ',' :: .StML. J jl SSsBalJaK-jit.'V.i