&5Xa ;,- r ryysqm-J 'irrvyi EVENING LEDGER-PHIIiADELPHIA, TUESDAY, MARCH ;; v ": 6, 1917 .. i3 i - PHILADELPHIA MARKETS GRAIN AND FLOUK 4.V075 hush Tim tnufKoi . ll.u nil wiiw-; .10 hiohpr under hul ln ap-cuin-" t!.r0ihS WeV, Quotations. ,.;r h-ia. tn .; lion '".IKiJil-No. a red, laws."?! "; n floator o - ,,,m,r No. 2 red. ?u.!-hJ.r?,, : no! j ft. 3r n-Mysuii rejected a. itjKwajf .; -'?"'vs-; I. : pPim tt'oulhern T No- rAl'buVh. The"' a. , tfPl5)Un-rlwcS-'5i"mirfc?l ruftl firm. In em- imion aacaa. Si-yj--i-:,-A. do. favorite urnuu., ateni, '-.:.V"i.i. n,l fancy pai- km my mm". vn"- A. .. V ri.HAii&in 11 r$iosio..v .-'.".note 7 7SOH pr PROVISIONS 11 ..mnlv ami firm. " in mi. - UDltl 1" M""" fnlr Joli- . . ...ith ..W. market "i. 'T .' ih .luotallon.. bin aem.. ... ,.-mu,,,a nnd "" na, air ! ; ",i"l.i.. .moked. 34ci cuy ""!" "I"J i.nn.ra. emoKea . anil V S!i7..!iTi nd tenders, amoken Srv SIC Cll- iieei. nrf alr-drled. knucsies imi w iv ore, -"-. -- ., km t-t.--. 1-. currui ,vv.. --:r..j ,Unned. lof"(, '? .moked . city cured, as to rt?3ci other name. '""";,, hnme. amoked, crund !!,p;j,r"a2siici "boiled, boneless. 3Scs r- - .., infill lti-ir: tin. " - T,-- -." irainK 10 n. Afl to -I.,. Vur.,1. 22f. breakfast H.nd "J!r.rVd. 22ei Urd, wrn rtlwd. lHe; lara. puro tiercel. l?:ei a- p.flc ahould.ra, fl. P. m"r,,ck.. accor3 ..nolied. J.""1 ,.u. braakfaat bacon. artrate. loo". "S iv "cured. 22o bre fflsStefc. Bras . city, kettle tuba. 18Hc. REFINED SUGARS k. .rkt waa aull nd unchanecd He- Th m,rK"i,j Kttrn nno grnnuTalnl. 7ci JUi'irta 7rio" confccUoner.- A. O.DOc. ao(t DAIRY PRODUCTS KimEn-D.mand waa fair !ilJlu "IL" fr.l "ancy br""da of prlnta Jobbing nt 47 "t-Th. mnrkft rulnl firm nnd advanced .."""r .... i.nili- 1 aht nrrring ami 1 ! nr 1. HPLJ T--1 . .. . . ft. Iur. J..n1 Olll rrd"oVnmn'rbynta: -Ton falrlv Quolallona: Nearby e!clriL" 'VC nr at(ft. wnirrn ' f":'n'7c r'r doS "loV tra firaia. IKl.Wi wr '" f Srata llft.3. per raae; Vancy "elected c"ai.dfr..h '.. f wir.Pjobblne hi nsS,41c per "oirinfH waa acarc. and prlcea advanced o nur ;ra'"., .,- ,;, i. ., .n.ii,, u11 '!". ".. , l, 'cream, fair lo good, part aklma. H2-c. inlr hlehert .New ior. EeiS 2B2,4c; do, 1 POULTRY and higher, readily 1TVB ruled firm ami miner, w in u':'"","' aJv.?.' .h.nrhlne th limited offering. Quo- "-- . - . ... in .. loflfirtlni ifu PV iprlnR to plza uavi-.-r - n Cxw OB in nilHIl l :!;terl lSC.Ofl. old rooMera, lW17c rooiwra. ?,'f ..'.. j ..5i!4e .tnrkn. ai """.n.v1 i02lc: pliaona. old. wr pair, .S830o: do. younir, rer pair, 20W55c. nnPSSED Tho market waa nulet and ...C....A Quotation!: rreen-Ki len, iir- Sliv.A' fowla. 13 to . hoi. dry.pleked v ?--.. nBIln, An welahlnr A1 ellhlnr line aw. lba. fancy and over "',... ! do. welchlne aVi ,lh. apleco. 22c W"":iZi:im. a lh .nleca. 2021c: fnwll do, welininir a ma. y" ,b., fancy, dry-picked. .,r' apiece. 28c: mall; welahlne 44 Ibi. i.n. lattt'yn. kicked, 2Uc; roaatlna- hlck In and old ns. 4..Vi,1 .Ml. do, upgraded J.1B4 t tirveninff No. 1V4.2Ii Kln. 1, 4.ri()tf,Mli dl tiniraded, litf4.a.M Kln, No. 1, 3,-,ntTti do, unsraded, I.1lf4i Ptatman .'! 1 ' '' uiuraded, l2f,tiiff:tMi . 1. 14 .intfUi dp, linirnileil, .' Wljp . nnrthuentern, per hox, II ftOw1 na, per tma, IMM r,n Oranaea crHic HrlBht, funry. I34 in . 24i poor .VictT J i - T"' Tdi. per atrap, lirril. (Irapefrmt lHeln Vn 1 II B.riIO. .In , inn. n.L.l f Ml (Ml Jl ft. Applea. nnrthue.tern, per hox, II .'tnt"1 t.,""-, . Leninna, per hox, l.llf 4 Ml Oranae Mnrlda, per crHic llrlaht, funry, I34 sm j.u.e.i mnr K.nnfl KlnrM . n ... J,-lqrlda. per crate, I2W4 ' Vlneapplea, Klnrlda. 'nnian liner, per rralr f 2 5 II ,1 f0. rrnliner ...".'."" t'0''. P" hhl Vancy late xarletle" nw,iAiil Karly lllark ISP4. franherrlea tar 0.1. her rr.ite 7.-iff2l do. Jeraey, dark, P'r ;' Jl f.nfll 7Si do do, lliht. per crat. II 1T l.Bi). Htrawherrlea, Florida per qt.. 40nuc. VEGETABLES The market waa tiulet and barely aleady. Quoiatlona: White p.itainea per hueh Pann Bjhanla, choice I2,',il3i New York, rhotre. tf?!,,?,..Whu Po'atoea. Jeraey. per baket. 1 4UOI.AS K(, pointoea, Kaatern, ;!;0J rrr bbl No. I. I2 7.1W.12.1. No ". ,llnntf-. Hweet potaioea, Delaware and Maoland. per harnpef.-.', i, $i ,vi1.7Sl No. 2. ll.20Bl.4Hi ctllla, II Hneet potaioea, Jeraev per baaket No. t. H,4il.Mi. No 2, Mffn.V Onlona, per loo.lh ha No I yellow. Ill noT.r.ot No. .'. 14 Mips. OahlMRa, aouthern per hamper 2.nif3 Spinach. Norfolk. . per bbl.. lW4i do, 'lexaa per lumper. 12 f0 Kale. Norfolk. Per Lbl . 'II r.UVJ. TnulHower. Norfolk, per irate, l AiKr-j Lettuce Florida fanc. per lulakel 14 Ml l,", .'Ml: do. do. poor lo good, per haaket I1W4 Celery Florida per in-lnih crnte, ,lr A An Ilean, Florida, per haaket Oreeii, tXIMKIA W.x. laSllBfl r.atplanl. Florida pr hot I3r,(l7f, JVppera Florida, per bo 5.fiiiffH Pquaah, Florida per I'"' II 7n2.2S. reaa Florida, per baaket. t.W 7 Tomatoea. Florida per crate . 7"14 fn. iluahrooma, per 4-lh. haaket. It 4rlfft 7S M ON E V-LEN DI NG R AT ES M-.IV YUHK ltatea on lonnH aecureil by Bood mixed stock oxcrutiRa rollnternl were unchanged today at Z W4 I't cent for sixty ilac, 4iff('i per cent for ninety dayn and 4y4' per cent for four, fixe nnd Fix month. Industrial loans are quoted 'i to Vi per cent higher than these flitures. l'rlme acceptances also were unchanged at 3ai IT 3 per cent for allglbles and H 4 iff 3 a. per cent for nonellRlliIes. Call money opened a( 2Vt per cent, the lilKh. Inst and rullnc rale of the day; low 2Vi per cent; closed at S'Hf'.i I'llll.ADI'.l.rillA While thcro Is not a large demand for money, rates are being held firm. Tho outstanding feature of the maikct Is time money, which Is 4'i to 5 per cent hid. In vlow of the unsettled con ditions, brought about by tho International situation, u great many borrowers have turned to the time money market for funds, desiring to secure all the money they need to carry them oer any period of unsettled conditions This has had the effect of Keeping the call rate down. The official call rate la 3', per cent fon n try banks have been buying more commeicial paper, One large uptown bank reported today that It had about upwards of a quarter of a million for country cor respondents within the last ten days. Kates for paper range from it to 4s. -per cent, even the best names not finding a better rate than 4 'a per cent. Tho 4'j per cent rate has been to a large extent for short maturity. WHEAT ENDS HIGHER AFTER NERVOUS DAY Speculators Expect Attorney General to Decide President Can Arm Merchantmen hkain m:i,T i:atiii:u iwimmst ('Ilir.Xljll, Mrf, n Wr-.ither forrrnM '"r thlrl.l hnura rational illnola, .MI.Minrl, lima, Mlnneot.i nod Mron.ln Inirenalni cloudlnea. probably ram tonlrlit and MeilncvlJM warmer to "I'M. ld,r tomorrow. i: "' "Jkotu I'nrnr rlomlj tonlalit and Imnorroni rolrter. i .?"'.'!," .''I.oi., Nehraakn inn! Ilan.a. I.J.v"',., ,n"'h. protmblt anow III ni'tl partly rloudy, ( older tomorrow. t'HlCACo. Match' C After showing Kreat strength today wheat developed easi ness, hut under the lend of May. which fin ished near the top. It rallied again There wi f Hither selling by concerns that tlsu- . ally net fiii- larger eastern shorts, but all I their offerings were nbsorhed readily. Hlg local speculators , vvero good buyers on a b'JIef that Attorney (Jetiptal C!regor would decide that President Wilson cm arm mer ! chnntmen Immediately i Sales for lmrt In Hi. lut l ..t.lv.r,.nr hours were eatlmated nt niniP than 1.nn nno bushels, hut u was thought that the advance had shut out futther business. The high on May was Jl PlTa the low II SS and the close Jl 9U, ii 1 '.trt',, ngnlnat $t.S8i nt the mil yesteid.i," The top on .Inly si 61 i.h the low $1 RSS and the final II 5Dfe,l 19. ngalint $1 fiW, yesterday's final quotation The best on September was 1 483. the low Jl 4fi and the rlose 1.4I4 bid, ngalnst II.46i, jes tei day's final price. t.eadlnir futuren'ronued na follow a- .."neat Open. Illah Low 'lo mlv . . l Mi. d i. September 1 4, "4S' . , .. ,nrw neiiver3 " - ffeYtern.' dry-pTckdT' In boxes, welshlntr 8O10 Si Sir pair. S02ci roaatlnj chlckena. weat- fl?4i!: roaatlnk chicken, western, dry-plckea. in boll., welehlne 8WI0 ids. pr pair, ioc: tiiiilnr chlckena. western. In bbla.. welahlna 7 " per pal?. 21022c- brolllnir chlckena. V.tera; in boxes, w.lahli e Sg4 lba. per, pa r. !S?ei chicken., welahli. ?l- "'r ,Plr. 5rt2jc: oo. il.l. ). inv.'t. w.wi.t... fi.r fancy S33e: brollera. other nearby. Mlltilni 142 lba. apiece. 80 32c i turkeys. ,,i lb Fancy nearby. 32fflR3c: fancy western, i 013c: fair to aood. 80O31c: old Toma. 2 ! V common. 24027CI ducka. nearby. 230230' Tteitern. 224424c: ireeae. nearby, )9Q21c: do. .rn ts20:: aquabs. per. doren White. iMn 11012 lba. per dozen. fsenuSi white. Ins P10 lbs. per dozen. 4 2.'i4."3: nelchlns 8 lba. per dozen, J.I Ml 0 3 7.1 nelshlns 7 lba. per dozen. J 1 W.I 2.1, .i nelihlne ia'b lbs. per dozen. I2W2 33: I 73&2.2S: email and No. 2, SOcWJl. FRESH FRUITS mnnd wan only moderate, but jupplle vtre ! and rrlcB generally ruled Ann ai tni- Arpl-'. Per bbl Ynrk Imprlal fy Ben daym, ia dUV4.iin; naiauin. o, i. HANK CLEARINGS Hank ciearlnsa today compared with corre sponding day Inat two jears: mi?. mm. mis Thlla. . I.11.4K9.PT8 I37.aax,j03 I24.fl42.002 New York ..52B.132.2SS G74.41.-i.2Bl 284.316.8D2 Huston .. .. :tl),UU4,.1.V 34,114.033 20,308,120 Chicago . !)3 4S1.470 73 44II.HB1 fi2,2r 2f Ht I.oula . 2(1 007 872 14.039.087 12,338. 9.M Ualtlmore .. ll,80.210 3U.I4.841 NEW YORK COFFEE MARKET NI3W YORK, March 6. The market for coffee futures opened moderately nctlve today, but with a further sagging tendency Today'a Today'a Yeaterday'a nnenlna. cloee. rloae. 7.80 7 31W7 33 7.37 7 30 . . 7 454 7.40 7.417.54 7.4137 43 7 3317.31 . .. 7 on7.l 7.0337.04 7.3!'!f7.60 7H7W7.0S .. . 7.728'7.73 7.7337.78 7.7007.72 7 7SW7.7H ... 7 R.ltf7,N4 7 880 7'8'l 7.'!097.!I2 7.'f537.87 7li47'llS .... .... sonasoi .... .... o.oaa s.os March . . . April .... May .... Juno July . . . August . "September October November December January . , February Hid. 1 88 1 llll. i r,ss i vit, 1 Irt't ! 401 Mar July . . September Oats May . July . . I-STd- May Julv . . Rlba Mav .. ., Julv Pork Mav Julv Hid 07 1 mm . 1 03S . r.l4 . r,7S .111.32 .10 3U 1 Oi'. 1 list, 1 o7 ilil 3s; 1K.32 11I..V. 1 n I HSW 1 M.IVi tl II7 ' I ll.V. 1 IIO'i 3"S On t.17 IP 3il '111 to 111 33 "l-l 42 ('lose 1 s. I ,-.l 1 10", I IMH, '1 mil, 1 n.-.v 111 3.". in a-. COTTON SOON GAINS AFTER STARTING LOW Unfavorable Liverpool Cables Are Ignored Demand Much Greater Than Supply NKW VOIIK March . fnfavorabie I.lverpoot cables were almost entirely Ig. noted nt the opening nnd Instead nf losses ranging up to 30 points or more, prices started here T points lower to 1 point higher. March, however, on one sale, was 18 Points down The distant months were especially firm. Liverpool, spot Interests and commission houses were good buers and the demand was much larger than the supply, which at best was scattered Wire houses were moderate, sellers on the call Liverpool nt the time of the opening here reported losses of to 3 points, whereas prices were due to come 3 to tl points net higher A private cable attributed the de' dines to lone liquidation In a small market j Trading was comparatively quiet during tho middle of the morning, wlth.prlcea hold Ini' Heady, about net unchanged to 8 points htgho- New crop positions were lela- inrij- nrm ine action or tne market sug gested hesitation with reference to follow, lug advances and nn easier technical posi tion nfter the active buying movement nf the last week. At the same time sellers found little encouragement with the spot news nnd there seemed to be support for May contracts on dips to about IT 76 for that portion Offerings continued very small In the afternoon and on renewed trade demand for summer months prices moved up to a net ndvanoe of lBttl points Southern advices were somewhat conflicting, but on the whole suggested a firm position of spot cotton. Tort receipts were 1,1.000 bales Ye! clone. Open. Itlrh March 18 in 17 73 I7.H3 1. 70 17H-, t7 91 17 03 17 37 17 73 . l mi i on in s2 1H an l 77 id tu .17 73 17.02 17 97 17 h7 17 -.2 17 0" M7 fcj 31 K1 38 23 TAeked 31.00 .13 ml J3.1 tin .11 sil 33 42 .13 27 33 .17 t.1.1 23 Nominal LIVE STOCK QUOTATIONS ClIICAOO, March . 1UX1H Itecelpla, 12.000 head. .Market 20c hlaher Mixed and butchers, 114914 00, good heavy. IHWH.Otli rounh heavy. Il4t4 2lh llrnt 11.1 73 II 111. !! 1I0 8S4H.1 2Si bulk, 14.1!t(rt4.Mi. CATTI.K Itecelpla, 2.V"! head 'Jlirl.et Mronrv lleevea I7.8.TU 12.23, ios and helfra, 14,73310 (lli aioeler and feeders. I7!i 40 Taxana. IMM1 23 calvta 10(710 30 8IIKKP Itecelpu, ijiiii heid Market strong. Native and western, 17 tnI2. Iainb. Ill 00O 14. 'O.I i NEW YORK IJUTTEK AND EU(;S Mav Julv . ... Octotr leeemher Kjot Low 1 7 73 17 SO 17 4.1 10 38 10 70 t'loee 17 75 17 30 17 43 10 38 10 7(1 IS 111 FOREIGN EXCHANGE NKW YORK. March fi One of the Tea tures of the foreign exchange market In the early dealings today was the development of an Inquiry for rubles, with the result of a gain of about lfi to 20 points from the extreme low record esterd.iy. Iluble cables roe to 27.90 and checks to 27 80 The other markets failed to present much fea ture, but sterling was firmer for demand at 4.75'n. Cables were quoted unchanged at 4.76 7-16. Long sterling wn; unaltered at 4 71 tj for sixty-day bills and 4.6DU for ninety-day bills. Other quotations were: Franc cables, 5.84j; checks, 5 SB. Hclchsmark cables. 68 1 ; checks. 08. Vienna cables. 11.12; checks, 11.05. Lire cables, 7.71 ; checks, 7 72. Swiss cables, 5.01 Xi, ; checks. 5.02 '5 Guilder cables, 40 7-16; checks. 40 Rubles cables 27 90: checks, 27 80 Pesetas cables 21 27; checks. 21 18 -Stockholm cables, 29.6.- ; checks, 29 5.", Chrlstlanla cables, 28 35; checks, 23 23 Copenhagen cables, 27 90 ; checks. 27 70 Although there was no Improvement In volumo of dealings tho market In the early i afternoon-was featured by strength In IUI- . 1.M 1. .! 1 c, ,. . . . ! .mi, jtuatiHn ami r,r.inninavinn exenanges The Improvements, which extended In lire to more than 20 points from vesterday's ex treme low level, were attributed In the main to covering of shorts jn exchange Lire cables, nfter being quoted ns low ns 7 83'j yesterday, milled today to 7 63 for cables and 7.64 for check Liverpool Cotton LIVERPOOL, March 6 There was a moderate demand for spot cotton today and prices were 5 points higher on the basis of 11 79d for mid-upland The Tales aggre gated to.ooo bales. Including 9000 hales American. The Imports were 19.000 bales, nil Ametican. The market for futures closed barely steady nnd net unchanged to 1 point higher. New "Mop" 11. R. Incorporated ST LOl'IS. March 6 The new Missouri Pacific Railroad has been Incorporated with a capital nf 1300.000.000. divided into 3,000. 000 shares at $100 a share, 1100.000 000 preferred nnd J200.000.000 common. STEAMSHIPS ox Merchants & Miners Trans. Co. Philadelphia to Jacksonville and Kafnvn Best rj' r" Service V A3)y.UU All Outside A and Stateroom Berth Included V" Ut7 licketUttice v-e Tlcketa rood to retnrn within a Mo. 10S S. 9th Street riione Lombard 8900 WMWy j$$mMMi : in ' r 2i.7i '?" njjiijiLini i ' nfcw " ' 1 - JWmorOrs itS' Ught Fouis !fk Tourint . S66S h; Roadster . . Uio Country Club . frsa ad I 'ft Big Four ra Towrfsf . . SSsa m RatdtUr . . $Sj 'SJ, Coupe , . . Sujo ,'K tdan , . . li4o i )& Licht Sixes I I Wnr The Sedan and the Coupe Tourist . . toSs Roadster . . '1 070 Coupe . . . $1S Sedan . . . $lSj Willys-Six Tourint . t'3'S Waiys-KnighU Four Tourint ttitj Four Coupe . Ii60 Four Sedan . tloso Four Limousine Ssoio , EltM Tourint fiojo We are selling more Sedans and Coupes this spring than we .sold last winter. Side windows and uprights fold away entirely when you do not require th.eir protection. You may have either the Sedan or Coupe body on either the Big Four or Light Six chassis. They are beautifully finished aristo 'cratic cars. They share proportionately in the economies of our huge production of the most comprehensive line of cars ever built by any one producer. will understand when you see them. i Consider carefully which type of car will really serve you most accept ably the year-round. Like many another you may conclude that the Touring Sedan or the Touring Coupe is after all the ideal year 'round car for you. One advantage you have in consider ing this matter with our help and advice you have the widest range of selection. Our only fntcrcst in your choice is that it be the car that will give you the greatest satisfaction in the long run. Att prices . o. b. Toledo Subject to cante without notice So they are splendid values as 'you Come in and see us and talk it over. Tout-in? Sedans Orarland Blf Four 11450 OrarlandLlrhtSlx JIMS WIllya-KnlihtFourS19S0 OVERLAND MOTOR CO., Distributors 323-5-7 North Broad Street, Phila. Prompt Deliveries Bell Phone Walnut 4897 The Willys-Overland Compnny, Toledo, Ohio Manufacturer! of Willyi-Knight nnd Overland Automobiles end Light Commercial Can "Made In U.S. A." Touring Coupes Orarland Big Four $1250 Or.rlandLljhtSU J13S5 n. III'TTIIU Iteeelpta, Hleadv fe.llhir on nil weaker on renovated Temporary NKW YUHK, March 0 01140 tuba Fa r tradlnr. grades of creamery and ana laaiea .n rnanse Kiiiin iieceinia. ism cares Temporary shortage nnd higher active trading at the ud vanre, hutra ao? Inalde. etrs nrt 3.14c Inalde firat 3' l(JV, aerond 3.1W1I.'. white, 3T3Hc. brown 3fl3?r. mixed. IHffJIV. Copper Strength Continues NKW YORK. March 6 strength con tlnues In the market fur copper, with n good demand from domest'c consumers for thltd. quarter nnd earlier deliveries A feature nt present Is the fact that a sale of fouith quarter has been reported nt from 30 14 to 30tc per pound This Is the first transac tion for that period In several months Sugar Cargo From New Orleans NKW YORK". Mar,ch 6. Announcement wim made by the American Sugar Refining Company today thnt It expected n cargo of Una granulated sugars lo arrive from New Orleans by next Thursday, This sugar was offered to the trade nt 7.30c a pound. This piles Ik virtually the samp as the ruling qunlntlon of "c n pound, plus the 30c f I eight charge from New Orleans to New York I'm chasers, however, will be obliged to pay the cnitngo from the dock , to destination. LOCAL MINING STOCKS TONDPAII STOfKB MneN'amara vildway Mltpah Kxtrnalnn Montana North War uoi.tiFini.n stockb niue Mull Itrmlh I' O I) ''nmhlngtlon Fraction DlamnndOrld II II Daisy dro snnd Ken silver Pick . . MISt'Kl.l.ANKOfS Arizona Prlted Nevada Hill . . Teeopv Mining Bid .07 17 .14 .2.1 .14 .01 .10 .02 .0 .03 .03 .02 .03 .11 .30 20- Atked .O't .10 13 21 13 03 .12 .01 .00 .04 .04 .0.1 ,i .12 31 - 23 IS railroad stMxmnm MINNEAPOLIS ANO ST, iOVtt, 1P17. Pourlh week February. 1101.(120 Month. .... n7i.12T From January 1 . .. 1, 310,087 8T. I)U1S ROUTllTVItSTERM"? rmirth week February 1321,000 kf VVKBTBIIN MAHTI.AND Fourth week February . 1:38.107 TOLKDO. ST LOUIS AND WKSTBUJSa January arnaa .,. 32I,30 114.974 M.9J4 I TEXAS AND MKXl January gro . , 1371.004 tl Net 210,002 If flurrlua 141,302 It HUFFALO, nOCIIBSTKn AND PITTSIMJ rourin weeK rebruary. I320.S0H From July 1... ..,..., 9,314.794 CIIESAPKAKE AND OHIO Fourth week February. lt.02.8M ! r rom January l. l.aa.vuo DRNVEft AND BIO CIRANDE v.i Total Income . . . . NKW OH LEANS, Fourth week February.. 1432.4 From January 1 13,899,481 Deereaee. 3 III.I . BAR SILVER Last Today Teat. Tuea. New Tork vcente) 70S MS 77 London (pence).. S7A 87rV S71 -llt High 7t 8rV Sinking Fund and Redemption Plan PHILADELPHIA COMPANY To the holders of the Philadelphia Company First Mortgage and Collateral Trust S Gold Bonds, due March 1. 1949: At the suggestion of the bankers whose names appear below, the Philadelphia Company, by appropriate corporate action, has agreed that upon assent by deposit, on or before May lit, t917 of at least 85 of the 56.500.000 nf the Philadelphia Company's outstanding First Mortgage and Collateral Trust 5e Gold Bonds, due March 1st, 149, said Philadelphia Company will enter into a Sinking Fund and Redemption Agreement with The Provident Life & Trutt Company of Philadelphia, Truatec, which shall provide as follows- 1. FOR THE CREATION OF A SINKING FUND OF 2 PER ANNUM. The Company will agree to pay to the Trustee a sum equivalent to 2fe per annum of the principal amount of sp many of the bonds of this issue as may be made subject to said Sinking Fund and Rcdcmpton Agreement payable in annual instalments on and after March 1, 1918, for the purchase and cancellation of bonds of this issue which shall have become subject to said Sinking I'Utid and Redemption Agreement Tenders of bonds will be re-jucsted by public advertisement. 2. FOk THE ESTABLISHMENT OF A CALLABLE PRICE OF I07'l AND INTEREST. In consideration of the creation of the above Sinking Fund, the Company shall have the right (a) lo call by lot bonds of this issue wh'ch shall have become subject to the above-mentioned Agreement, for the Sinking Fund, at 107'zi and interest, providing sufficient bonds shall not have been tendered in response to the Sinking Fund advertisement, (b) to call for. redemption or purchase at lOJS and interct, on thirty days' notice by public advertisement, all of the bonds of this issue which shall have become subject to said Agreement. In case the bonds arc called as a whole, they may be cancelled or kept alive, as the Comp.inv may elect. EXCEPT AS ABOVE SPECIFIELD IN PARAGRAPHS 1 AND 2. THE RIGHTS OF BONDHOLDERS SHALL IN NO WAY BE AFFECTED. THE SECURITY FOR THE BONDS SHALL REMAIN UNIMPAIRED. The Company reserves the right to extend he time for the deposit of bonds, and also the right to declare the p!an operative in case less than the specified percentage of bonds shall have been deposited. The Provident Life & Trust Company, as Depositary, or ita agents, will issue transferable receipts against the deposit of bonds, in transferable form, and pon-transferable receipts for bonds regis tered as to principal and not endorsed for transfer to be"arcr or accompanied by a power of attor ney for such transfer If the plan does not become operative the bonds deposited, or an equal par value thereof, will be returned to the holders. If thc plan becomes operative, the deposited bonds and attached coupons will be stamped as being subject to aid Sinking Fund and Redemption Agreement In no case shall the holders of Certificates of Deposit be subjected to any expense. Should the plan become operative, the Philadelphia Company agrees that it will make applica tion to have the bonds so stamped listed on the New York and Philadelphia Stock Exchanges. The operation of the Sinking Fund should steadily strengthen the security of the issue by reducing the amount of hnntU outstanding, and this, in conjunction with the additional demand created by the Sinking Fund for bonds subject to the Agreement, should improve the market pries (or the stamped liondi. If the Company shall exercise its right to call for redemption or purchase all of the bonds of this issue which shall have become subject to the Sinking Fund and Redemption Agreement, hold ers of such bonds will receive 107' i and interest, a price not only well in excess of the present market price, but in excess of any price which h is prevailed for these bonds for many years. The undersigned bankers, therefore, believing that this arrangement is manifestly to the advan tage of the bondholders, recommend them to deposit their bonds. The Sinking Fund and Redemption Agreement will be subject to the apprbvat of John G John son, Esq. Copies of the plan outlined in the foregoing advertisement can be obtained from the Depositary, or its agents, or from the undersigned bankers. Depositarv: THE PROVIDENT LIFE & TRUST CO. Philadelphia Agents for Depositary: FIDELITY TITLE & TRUST COMPANY Pittsburgh MARYLAND TRUST COMP.ANY Baltimore THE EQUITABLE TRUST COMPANY New York BROWN BROTHERS & COMPANY Philadelphia MONTGOMERY, CLOTHIER & TYLER Philadelphia JEROME HILi. & COMPANY Pittsburgh Sinking Fund and Redemption Plan PHILADELPHIA COMPANY To the holders of the Philadelphia Compnny Consolidated Mortgage and CnDafra! Trust 5 Gold Bonds, due November 1, 1951 : At the suggestion of the bankers whose names appear below, the Philadelphia Com. any. by appropriate corporate action, has agreed that upon assent by deposit, on or before May 1st, 1917, of at least 90 of the $15,HS,000 of the Philadelphia Company's outstanding Consolidated Mort gage and Collateral Trust 5Ve Gold Bonds, due November 1, 1951, aid Philadelphia Company will enter into a Sinking Fund and Redemption Agreement with the Commercial Trust Company of Philadelphia, Trustee, which shall provide as follows: 1. FOR THE CREATION OF A SINKING FUND OF 2 PER ANNUM. The Company will agree to pay to the Trustee a sum equal to 2 per annum of the principal amount "of so many of the bonds of this issue as may be made subject to said Sinking Fund and Redemption Agreement payable in annual instalments on and after May 1. 1918, for the purchase and cancellation of bonds of th s issue which shall have become subject to said Sinking Fund and Redemption Agreement. Tenders of bonds will be requested by public advertisement. 2. FOR THE ESTABLISHMENT OF A -CALLABLE "PRICE OF 102' AND INTEREST. In consideration of the creation of the above Sinking Fund the Company shall h.ve the right .(a) to call by lot bonds of this issue vvlrch shall have become subject to the above mentioned Agreement, for the Sinking Fund, at 102 and interest, providing sufficient bonds shall not have heen tendered in tcspntisc to the Sinking Fund advertisement; (b) to call for redemption or pur chase at 10." j and interest, on thirty days' notic- by public advertisement, all of the bonds of this i-.uc which shall have become subject to said Agreement. In case the bonds are called as a whole, they may be cancelled or kept alive, as the I'oiup nv. ma elect EXCEPT AS SPECIFIED IN PARAGRAPHS 1 AMD 2. THE RIGHTS OF BONDKOLD ERS SHALL IN NO WAY BE AFFECTED. THE SECURITY FOR THE BONDS SHALL REMAIN UNIMPAIRED. The Company icscrvcs flic right to extend the time for the deposit of bonds, and also" the right to declare the plan operative in case less than the specified percentage of bonds shall have been deposited. The Commercial Trust Company as Depositary, or its agents, will issue transferable receipts against the deposit of bonds in transferable form, and non-transfcrabrc rcce'pts for bonds registered as lo principal and not endorsed for transfer to bearer, or accompanied by a power of attorney for such transfer. THE MAY 1, 1917, COUPON SHOULD BE DETACHED BEFORE BONDS ARE DEPOSITED. If the plan docs not become operative the bonds deposited, or an equal par value thereof, will be returned to the holders. If the plan becomes operative, the deposited bonds and attached coupons will be stamped as being subject to said Sinking Fund and Redemption Agreement. In no case shall the holders of Certificates of Deposit be subjected to any expense. Should the plan become operative, the Philadelphia Company agrees that ;t will make applica tion to have the bonds so stamped listed on the New York and Philadelphia Stock- Exchanges The operation of the Sinking Fund should steadily strengthen the. security of the issue by reducing the amount of bonds outstanding, and this, in conjunction with the additional ('""' nd created by the Sinking Fund foi bonds subject to the Agreement, should improve the market "rue. for the stamped bonds. If the Company shall exercise its right to call for redemption or purchase all of the bonds ol this issue which shall have become subject to th" Sinking Fund and Redemption Agreement, hold' crs of such bonds win receive 102).$ and interest, a price not onK well in excess of the present market price, but in excess of any price which h is prevailed Vr tliesc bonds for many years. The undersigned bankers, therefore, believinj that this arrangement is manifestly to ths adran tage of the bondholders, recommend them to depssit their bonds, The Sinking Fund and Redemption Agreement will be subject to the approval of John G John son,' Esq. 0 Copies of tic plan outlined in the foregoing advertisement can be obtained from the Depositary, or its agents, or from the undersigned bankers. -V2 f "; i . ! Depositary: COMMERCIAL TRUST COMPANY Philadelphia Agents for Depositary: THE UNION TRUST COMPANY of Pittsburgh CONTINENTAL TRUST COMPANY Baltimore BROWN BROTHERS & COMPANY -Philadelphia MONTGOMERY, CLOTHIER & TYLXK Philadelphia -,. Tciamurt? UTTT Jb rnlfDAUV '' v M J m M "S J Crf .TVVa ATI 4U iiamm w. wm. 11 1KW; YORKTRl COMPANY. . '"--"-"- " ., . .-!
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