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EVENING DEDGER-PHIIJADELPHIA, -MOND'AY MAR&& '"fef' -1&W
& '
h V ' J
Sound Reasons Why
Hooven
Automatic Typewriter
snore now offered at SO com
bine tafety of principal with
great ponibilitles, of large in'
tome yield and enhancement of
market valuer
1. Order graater than capacity.
2. Monopoly throughout , tho
world.
3. Raltablo estimate show large
probable earning. Protpact
of early diridend excellent.
4. No watered (tock. Low capi
talization permit high market
value for ihare.
5. Strong directorate and clean
management.
6. Highest award. In constant
uie by greatest concerns.
Field unlimited.
7. No bond or preferred stock.
Shares full paid and non
assessable. rVrifsr for further information
or call at our office and tee
demonttration
BERGMANN & CARAHER
LAFAYETTE 111.0(1.
Fifth & Chestnut Kit.. I'hlta.
Telephone Iximbnrd 2S44
New York Boston Ihlraen I'lttuhnrah
Our Service
Its Distinctive Features
No. 2 Opportunities
The extent of our resources,
our facilities for handling
large issues and the breadtli
of our distributing orgayira
tion facilitate the successful
negotiation of many attrac
tive bond issues.
We maintain upon our lists
continually a selection of
bonds suitable for every in
stitutional and individual
investment requirement.
Send for Current List P K-104
TheNationalCity
Company
1421 Chestnut St., Philadelphia
New York Cfclcaci) San r'rinctieo
notion l'ltttinre
OUUS" FlKNEY
AUTOMOBILE BANKERS
Offer special facilities for In
dividuals or automobile deal
ers to finance the acquirement
of pleasure cars; and for
business houses to finance
the acquirement of commer
cial cars or trucks. If you
are thinking of purchasing a
car of any kind for any pur
posethe KI.VNEV SYSTEM
will make a better business
transaction for you.
REAL ESTATE TRUST BUILDINQ
PHILADELPHIA
DIVIDENDS
We are pectallati In
Dividend Paying Oil Securities
Write or wlro ua for latent Information
concerning
Merrl.t Barnet Oklahoma
Sequoyah Okmulgee Pro. & Ref. Co.
Our conntrtloni In the Oklahoma nml
Kentucky Held enable ua tu rendt-r hii
exceptional service Wh aollclt urdwra
In the Independent Olla on partial pay
ment or lor rain,
WfNSLOW TAYLOR & CO
U Walnut
Walnut
fl.i8n
esHi
40 Widener tilde.
I'lillailelplila. 1'a.
tp0emeVetem0ieii0eef
BANKERS
and
BROKERS
Ith A OHESTNUT STL, N. E. Cor.
Msmbsrs ef Phils. Btsok Bichsnra
HecKekCo.
Direct Wlrs to New York
Chatter County Cat
lst5t, J. & D., 1925
REED A. "MORGAN" & CO.
VEMT KM) TRUST 111.1)0.. 1-IIII.A.
Members of tlie t'hlla, Stork Kirhanse
DIVIDKNIIS
DIVIDEND
THE BABRBTT COMPANY N. J.)
(Formerly Amarlcsn Coal Products Company)
A ausrtsrly dividend of one and Ihrrei-qoar-tcr
per rent (I) haa been declared on both
the common and Preferred Capital fitoetc of
The Barrett Comosny (N. J.) and tha Amerlran
Coal Products Company, payable on April Id.
1H17, to common stockholders of record as Ht
the elcsn of business March 19th, 1017, and on
April 16th, 1B17. to preferred stockholders of
record as at the close of business April 6. 117.
ERNEST J, BTBEU. Treasurer.
DIRECTORY OF ACCOUNTANTS
Certlflrd Tablle Accountant
LAWRENCB K. nnOWN A CO.
IMS HEAL. K3TATK TKUBT UU1LDINO
INVKSTK1ATH AND ADJUST PARTNER.
HUH' JOINT AND DISPUTBD ACCOUNTS
BURNS BPEAKMAN
TUB BOURSE
WILLIAM R. MONTEMUS
' 820 CHESTNUT BT.
tXOAL APYstBTlSEMEXTa
shlATK UJT CATUKkSWK UACKBTT.
d eisand Letters tMUminiin. An .ul
boT catat havlnsr been framed to toe under
ScBed. all persons Indebted to the aald estate
nvuwiw mwiBi, end (nose
in
Safin; claims) ta present Ue seme, wttnout
"' ftgr.Tm F. BURROnoiIBl Ei.cutrlr.
i07 North 17 th st.
r.lW!t
fc-Jsr"- X8TA
bssH as
TABDLKT.
Qlrard av.
TK'Or SAMUEL LOTT. DE-
;,miii testsmeatsry on ths
hlns, been sranted to T1IH
LIFE AND T1HIST muniiiv
DELl'llIA. all persona Indebted in
itato ara requested to msks payment,
harlo olaWna to prtsent the asms.
ay. at, in ewoium compsay,
sti, Ilillailsl-sbls, P.nneylrenls.,
ASA, B. WINU.
Prssldsnt.
I-ATE or raUMttUN r. CA
SMM4--LMra oSTaasstnisteel
AW-
p.
tlon
FINANCIAL NEWS
STOCK MARKET UNABLE TO WITHSTAND
BEAR PRESSURE AND PRICES DECLINE
Railroad Shares Active and Strong in Forenoon on Reports
of Decision on Adamson Case, but When Rumors
Are Found Untrue Buyers Turn Sellers
High Points in Today's Financial News
Stocks turned down in Wall street after making advances on report of
decision on Adamson case. Market unable to withstand bear pressure. Gram
lower. Cotton higher. Curb prices went off. f2B,O0O,O0n in iold arrived in
Philadelphia. Local bank statement showed increase in loans, decline in
deposits and gain in surplus, liar silver lower. ,
NKW YORK. March 12.
Kor the first time In more than a week Iho stock nrttket lodiiy kIiowimI mi
ubsenco of rrnlHtatico to bear pressure, iintl nearly everything trailed In nt tho
end of the iluy showed substantial losses. In the fotenoon the railroad storks
were active nnd stronK. with Union Pacific nnd Roadlnf lcnillnn those lssuct
on u vlfforous upward movement, tin whloh t'nlnti Pacific sold at 137'2 nnd
lteadlnc advanced more than 3 points to nliove 97.
Many of the low-prlcrd Issues followed these leaders on the upward move
ment, with virtually all tho buying; based on assertions that n decision In tho
Adamson enso would be handed down by the t'nlted States Supreme Court.
When It was found that theso reports were unfounded, thovo who bad been
piomlnent nmoiiK tho early buyera turned nbruptly to the selling side, nnd
within u few minutes nearly all tho early Rains wero lost
In tho rest of the list thoro was a wavering tendency from the start which
developed Into pronounced weakness In tho last half of the day. when the room
nnd Street were filled with disquieting reports about President Wilson's physical
condition. Theso reports had nil the more Influence because of the fact th.it
a Inrge part of tho uneasy short Interest had been covered, leaving the market
without support from that source, nnd, at the same time, tho ndvance which
had been carried alonp from the low levels of February 1 hail tnado tho market
nt Its hlRhcr rnnRC more sensltivo to bearish Influence, and when tho rumors
from Washington were circulated selling was about equally divided for long and
short necount.
The pool activities which were noted for a few dnys were also an clement
of weakness In tho gonoral market situation, ns pool ;wnts had bid prices
of a number of specialties up without reasonable hnsls or incentive. The Indus
trial Issues were among tho weakest features, with fulled Slates Sleel common
dropping from 113U to below 111. American SmeltlnK. which hns n brisk
advnnce a week ngo, was In supply til concession, selllnj: down from 107U to
below 105. '
Trading In foreign Issues continued the most Important feature- of tho
bond market, although the new financing attrncted some Attention to tho Chill
Copper 7s, which sold nt 132, but later reacted to below 131.
MAJORITY OF CURB ISSUES DECLINE
AFTER MAKING GAINS EARLY IN DAY
NKW YORK, March 12
The Curb market showed n strong tone at tho beginning of business tndav.
when Mtdvnlc Steel sold nt 58 nnd good advances were made in a number
of the other issues, including Plerce-Arrow nnd Chevrolet. The gains which were
then established, however, quickly disappeared In most of the leading stocks,
nnd during the remainder of tho day nearly everything traded In sustained
substantial losses.
The Curb was directly Influenced by the unsettled tone on the New York
Stock Exchange, where prices of leading stocks declined sharply and :i reduc
tion of long lines was in order after good ndvances. A few of the oil stocks
were in good demand, however, nil through the day, with Sapulpu advancing .
to llH nnd Klk Hasln moving tip from 10 to 10S. These gains wero offset by
recessions In Sinclair, Oklahoma Producing and Osage. Merrltt Oil. which
opened at 2t, declined to 23V Tho mining stocks also became heavy after
Initial gains.
INDISTKIAI.S
nid.
Aetna Kxploslvej 4
American llrltlsh Mfg . "
Amctlcan Marconi 2V4
America,!! Writing Paper
Canadian Car & Hdy ... i'
Canadian Car & Fily pf 1
Cnrwen Steel
Charcoal Iron 7H
Chevrolet Motors lis
Cramp Shipbuilding ss
Curtlss Aeroplanw IS
ICmerson Phonograph .. OVi
Federal Dyestuff
Haskell & Barker Car.. 4W
Hendee Manufacturing . St
Kathoillon Bronze pref . 3
Lake Torpedo Boat ....
Lima Locomotive new . . S7
Mariln Arms 88
Maxim Munitions 3'-4
Midvaln Steel H
New York Shipbuilding. .19
Otis Klevator .18
Peerless Motors 1ft
Plerco Arrow 17
Poole K & M 75
Redden M T it
Scripps-Iiooth tu
H S Kresgu w I It
Santa Cecilia S7
Santa Cecilia prof BS
Stand Motors
St Joseph Lead
Steel Alloys
Submarine
Triangle Film
Todd Shlpyaids
rnlted Sugar
V S Steamshli
t'nlted Motors
I'nlted Profit Sharing. ..
World Film . . .
Wright-Martin Aircraft.
Klnc Concentrating
Sat. close.
Ak-,1 (Sale)
12
30
17ft
13
8
IIS
112
its
OH
V4
W
13
:o
17
8
,'S
4
811
3.VX,
V4
3uyx
s
K
SV4
ItAlLltOADS
3flVi
4H
2
4
w
no
03
3tt
4
41
0
17
no
no
vtv
3ft
13
(10
K
18 H
HV
'it
Hi
S3
3.1-y,
in
40
Vt
Vh
3
Rock Island commoji
Hock island A prer 84
Rock Island II pref 60
Western Pacific w I .... 18
Western Pacific pref ... 40
Wabash Pittsburgh Hi
Wabash Pittsburgh pref. 40
37
83
71
31
A!
SI
S3
rlTA.MIAltll (111
Illinois
Ohio
Prairie Pipe
Pierce Oil
S o California 208
S O New Jersey 60S
STOCKS
i.237 239
.388 .103
.320 32.?
. 1214 13
303
0D8
S O New York 30k 312
IMILI'KMIKNT OIL STOCKS
Am Ventuia 20 30
Barnett OH & (inn t s
Cosden Oil & (Jus 14 lftU
Cosdeh & Co IS Vi 13
4S4
SHV
01
3 VI
113
00
22V4
17 Mi
8V4
24
83
S54
".
"i
8
3
3BV4
84
80
3 US
328
300
6110
307
22
tVt
15Vf,
lVs
INIiniT.Nnn.N'T OIL STOCKS rontlnunl
Sit. ilnpp.
.I1. (.ShIo
ItM
Federnl Oil 4T
Klk Basin 10
Inter Petrol 1IT
Houston Oil
Merrltt Oil
Midwest
Oklahoma Prod &
Osage Hominy . , .
Rice Oil
Sequojah
Sapulpa Itctlnltig
Sinclair
West F.nd O & (i.
R...
. 18
23'l
113
Si
IVi
II
3.1 '.4
20
ft.
inii
I2!S,
2(1
28Vi
113
11
8
r
t
1 1 w
s it
it
ft';
1
2i
;i
AIININr STOCKS
Alaska Standard
Atlanta 13
Ulg l.edga ft!H
Blsbeo Cop (n prosp) . . . 1
Butto Cop & Zino 10
Butte N' Y .'
Columet & Jeromo 1 'h
Consolidated Arlcona ... 2 if,
Dundeo Ariz 1T
Kmnin Consol Hi
First National , 2',i
Florence C.oldfleld 2(1
Globo Dominion Vi
(Jolilfleld Consolidated . . 3 3H
(ioldfleld Merger s
(Sreen Mon"fer 2 2'A
Ilecla Mining 7TJ. 8
lluwo Sound 7 7
Independence Lead .... 17 is
Jerome Verde 2 2 V
Jim Butler 73 70
Jumbo Kxtenslon 2 20
Kerr Lake 4 V4 4
Ken-anas 18 21
McKlnlcy IMiraith 33 S3
Magma Copper Ill 40V4
Mothlode 41 42
Mines Co. of America .. 174. 2'4.
Nlpbslng 8 S',
Ray Hercules .., 4',, 1
San Toy IS 17
Seneca Copper 12' 13
Tonopah Kxtenslon .... 31i 3Th
I'nlted Verde 38 39
West F.nd Consolidated. o 7ft
White Caps I , 1
bonus
American Smelt Ds .... 0(S 07 O0i)i
Beth St 5 p c 2-yr notes. 08 08 08
Cosden Oil Gs 103 103 103
Cosden & Co new Bs ... .107i 108 107')i
Flench Munlc Gs 01 Oft
Midvale Steel Bs 08 00 06,4
Russian O'is 01 Uft Oft")',
Russian 6Hs 87 88 88
Sinclair Oil 6s 110 110 ..
So Rwy B p c notes o 08 o
Todd Shipyards C 011 100 ..
I' S Rubber n 6s 02 02 03
Western Pac nnw 5s . . . Hfi 89 89
New York Stato 4s luSVi
Chill new 6h too 100 ..
ft
li U
12 Vi
24
8ft
II
9
,'
1
11
sn
13
ftT
iiii
2
IT'k
ITh
3
"
SO
7'i
2,',
7U
?!4
-it
7S
SO
40
S
IV4
10
13
3Vi
39
72
1 Vi
LOCAL LOANS INCREASE
Gain of ?5,844,000 in Week Deposits
Show Decline
The statement of the average condition
of the members of the Philadelphia Clearing
House Association for the last week shows
an Increase of 5,S44,oOO In loans as com
pared with the previous week, while Indi
vidual deposits decreased J4, 331,000. De
poults of banks declined 34,412,000. The
surplus gained (47,000.
Details follow:
Uifftrence
prv. week.
increase
New York Stock Sales
Advance Ruinelv .
AJax Rubber . . .
Alaska (Intel M
Alaska Juneau . . .
AlllS'Chalmers Co,
do pref
Am Beet Sugar. ..
Am (Tan
do pref
Am Car & Fdy..
Am Cotton oil...
do pfd
Am Hide & I.
do pfd
Am Ice Sec
Am l.lliHced
Ant Loco
Am Malt pfd t c. .
Am Smelting
do pfd
do pfd A
Am Steel Fdy . .
Am Sugar
Am Tel tc Tel
Am Tobacco
Am Wool
do pref
Am Writ Pap
Am I'.lnc ,t Lend
do pref
Anaconda
lllsb.
18
(18
8
V4
28
88
03
47
108
08
43
100
144
n
2714
3 IN.
724
S2
1(17
112
lol
01
I 13
127
220
ft I
00 1 i
rcf 32' 4
38
08 )i
80
I.OW.
I
(13
1
7
27
83
01
4A
103
(10
43
1 1)0
13
no
27
10
71
A3
101
112
lol
(11
1 1 1 'Si
127
Close
m
08
8
7
27
Net
ense.
-1
2I7V4 220
8fl
02 - 3
43 1
108 4-
(10 1
43
1110 . ..
i:t 1
(ni 1
27 i
20 1
71 1
32
lilt Vi .
H2Vi
llll
(11
112
127
Atchison 102'i
do pref (Hi Vi
Allan Tllnn & Atl 11
Allan Const Llne..!IS
Allan (lulf ft W M0
do pref (IHi
Baldwin Loco Co. 33a,
Baltimore & Ohio. 77
do ptef 72
Barrett Co 110
do pref 114
Bethlehem Sleel ..112
do It 117
Brklyn Rap Tian fls
Burns Bros 119
Butte & Sup Cop. . 18
Cal lVtioleiim. .. . 21
do pM ftft
Canada Pacific. . . 134
Cent l.eath .... 04
Ceno do Pasco... SO'Ji
Ches & Ohio 39
en, k Alton 10
Chi (it West 11
do pief 31
Chi M & St P.... 82
do pref 119
CM & Nwn 114
do lights 1
C It I .t: P 1st In pd :ihi,4
Chill Cupper 27
Chlno Con Cop... 01
Col Fuel & Iron... 4H
Col Una & Flee. .. toy.
Col & South 2S
do 1.t pref SIS'!'!
do 2d pief 42
Consol (ins 122
emit Insurance Co ft.VU
Coin Products . . . 21
do pref 104
ClUfllile Stei-I 08
do pref Ill
Cuba Am SuRiir. . .18(1
Cuh.i Cane Sugar. 43
do pref 01
Del Hudson ..140
liemer & It (! pf 31
Domo Mines ... . 10
Detroit Kdlson rts 4
Distilling Sec
Drlggs-Seabury .
ICrie
do 1st pref . . .
do 2d pref . . .
Fed MAS pref.
(laston Williams,
(len Klec Co . . .
rjeneral Motors. .
do pref
Goodrich B F . . .
do pref .
Oianby Mining . .
fit eat Nothrn pref.
21
S3iJ4
27
411
.32
43
34
lOftVi
123
111
no
109
89
3
it Nthrn Or subs. ss
(iroene Can Cpr... 41
dulf State Steel. . 130
III Central I (is 14
Int Agrlcul 18
tnsplmtinn Cpr . . 2
Inlerbgh Cons Cor 1314
do pref fll
Int llaiv Corp .... 77
lnt Mer Marine . . 28
do pref 70
Inlcrnl Paper ... 4S
do pref ct 00
Intend Nickel .. 43
K C Southern 22
do pief 34
Kelly Spilngfld . . 01
Kennecutt Cop ... 47
Lacka Steel 87
Leh Valley (19
Lee Rubber & Tire 23
Long Island .... 41
Loose Files Bis Co 22
Lorlllnrd P 219
do pref Mr!
Lous & Nash 120
Mux Motor S7
do 1st pr 7114
do 2d pr 30
Mex Petrol 00
Miami Con Cupper 4214
Minn & St L new. 2S
Mo. Kan & Tex. .. 8V4
do pr lfl
Missouri Pac ctfs. 12
do w 1 80
do pref w I .... 83
Nut I'.namel k Stp. 38
National Lead. . . . S7
Nevada Con Cop.. 23
N Y Central
NY Nil & II ....
NY O & W
Norf & West
North Pac
Ohio Gas
Owens Rot
Pacific Mail
Pan Am Pet pref,
Penna R R.
44
24
131 Vi
103
lift
101
3 3
OS
31
13.844,000
4,931,000
14,0011
7,4(15.000
4.412,000
5,(l7.000
nituKio
672,000
47,000
March 17. 1017,
Loan . 5HXB3.ooo
n.posits (ma.) "f:?!J'?1!!!!
circulation , 9,118,00(1
Due from" Units .....'. SJ-jni.oOO
I1.po.lt of hanks 1?'"f052
Ex. Clesrinr Hou .il-ll'9l
nessrvs reaulred...... 83,184,000
u.,.i. ZV.DSS.OOO
" .. . . " ...' .1 lltlfl lif M9 AAA. .,.
IS 1MB. 131,638.000: March 10. IBM, 118,115..
000! March 10. 1913. I3.44S.OOO; March 11, 1V13.
114.101,0011.
Dacresse,
BANK CLEARINGS
tlsnk clrarlnn todsr compared with oorrs
apondlnc dsr lsst two years:
11)17. 11)16. 115.
mils. ..i...!4,S8.lll 131.887.111 310.01B.fl32
Nw York ,,354.087.101 2B3.UIII.8O0 231,803,2
MONEY-LENDING HATES
NKW YOIIK The time money market
continues easy on a moderate volume of
transactions. Quotations are 4 per cent on
good mixed Stock Exchange collateral for
60 days to four months and 4 04 VI per cent
for four to six months. Industrial loans
rule per cent above the mixed figures.
Prime bank acceptances are moderately
active nt 33U per cent on eligible nnd
334 034a Per cent on lnellgtbles.
Prime mercantile paper Is somewhat more
active at 414 6(14 per cent, with most of
the business at the higher figure. Offer
ings are much smaller than the demand.
Call money opened at 214 per cent, the
low, last and ruling rate; Jilgh, 2 ; closed
at 2 14 6 2 14 per cent.
I'lllI,AIKr,rilIA Call. 314 per cent.
Time, 414 06 per cent. Commercial, thres
to six months. (04?i per cent.
Pere Marquette w I 29
Philadelphia Co.. 38
Pllts Coal ctfs 40
do pref ctfs 113
Pressed Steel Car 80
Pullman Pal Car .101
Ry Steel Spring. . S2
Bay Con Copper . son
Reading 07
Hep lr &. Steel ... 82
do pref 1(13
Royal Dutch .... 03
St L S F 21
do pref 37
Seaboard Air Line IS
do pref 33
Sears Roebuck ..230
Sloss-Sheff St &
Southern Pac . .
Southern Ry ...
do pref
Studehaker
StuU Motors . .
Tenn C & C w
Texas nnd
Texas Co .
Tobacco Prod . ,
do pref
Transuo & Will.,
Underwd Type . ,
do pfd
Vnton Pacific
1 7
. OS
. 28
. so
.104
. 47
I is
Pacific IS
220
ftnl
09
49
37
08
83
102
90
l
114
103
III
32
7ft
72
113
III
139
112
8 V4
118
HIV
23
6S
133 Vh
01
38
A8
III
11
33
81 Vi
119
111
1
37
2A
fiS
47
44
2ft
3fi
4 2
1211
ft 3 Vi
23 Vi
I II 11
03
III
1 8(1
41
911
III!
31
19
4
20
r,o
20 Vh
SOU
32
43
31
l4
119
9(1
S ft 14
109
88
113
83
44
123
1(11
17 14
no
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114
77
2014
73
43
00
42
21
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61
4314
81
08
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22
219
lid
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B4 '
71
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87
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34
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08
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129
103
109
101
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Oft
S3
27
38
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118
7914
181
52
29
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79
103
68
20
37
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63
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102
47
15
13
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83
102
911
14(4
11.1
10.1
m
.12 V4
78
72
1 13
III
1311
113
68
1 184 -t-
tn 1
3314 1
ft 1
133 -
114
I
3
III
38
AH
10
11
33
81
119
114
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23
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47
44
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(2
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S
HI
180
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140
31
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39
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11014
911
ft.1
109
88
113
3 4 IS
II
12
101
17
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77
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96
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54
61
4.1
81
(18
22
40
22
-
- 14
-1
-
-
4
1
.
219
116
120
5ft
71
33
-2
-
Sales in Philadelphia
' ltlsh. Low,
218 O Asphalt, 28 24
4.1 Ins C11N A 36 26
40 Kenno Cop 46 46
10680 I.kSupCrp 23 2 lid
10 l.eh Nnv.. 81 81
486 Leh Valley 69
10 I. V Tr pf 43 4
4 Mlnehlll .. 57 A7
SIS Nev Cons 2 2.1
Unl'Pcnna It It A4 3
1 Pa Salt M. 9 0.1
119 t'hlla Flee. 32 31
loo Ph Rap Tr 31 al
790 do tr ctfs 31 30
12(1 I'hlla Trac 70 70
20 Ray Cons. 20 20
010 Rending... 07 01 Vi
4.1(1 Ton Bel... H4 V4
a lit Vn Trac. II 43
390 I'll O Imp. 8814 88
4 fn C N J-228 22(1
siKiii C S Sleel. 1 13 110
ion Wh L Frlc 17 17
;.l War I & S 0 11
2 W Jer & S S3 53
ft Westmnr C 79 70
3.1(1 WmCinmp lid so
10 York Ity Pf 30 36
Net
fln.e. rhs.
24
26
46
22 1
81 W
68 IV4
43 V4
37
t t
34 Vi
S3
32
31 1
30
79
20
0.1 4 2
4
43 Vs
83
226
11(1 2
17
oli
S3
79
89
36
14
Total slc, 22,11117 hres, compared with
111,40(1 ohnrcx l.lt MnndAJ.
IIOMIS , ft
llleli. Low. Close che.
$300 Am Ons ft
Klec Cs. 06 06 06
1000 Baldwin Lo
1st Bs... 103 103 103
2000 city Is 1C.I0214 102 I03V4
3000 Interstato
Buys 4s .1.1 3S 53
1000 Key Tel 1st
Bs 97 07 07
2000 Leh Nat
ions 4I8S.103 102 103
100(1 Leh & New
Kng Bs..l03 103 103 V.
3000 Nat Prop
4. (Is . .. o A3 6.1
1000 Penna Co
gen 4'2S.I02 102 102
20IIII do cons
4'is . . 10.1 10.1 10.1
9000 Phlla Co
i:oni Bs.. 91 03 93
1,100(1 do 1st r..102 102 102 ',4
44300 Phlla Flic
Temp Bs.102 101 KUTJe
3000 lb ailing gn
4s 01 04 91
looo So Rwy 4s
IHBC ... 71 71 71
8000 Fn Rwy s t
o 4s 72 72 73
9000 Welshach
Co Bs... 98 98 98
4-
Tnliil k.ilc, SKI2.H00,
lil-t .Mmiil.ll.
(fllniiiirril llli f.lS.COO
Local Bid and Asked
lllil Axkctl lllil
UnMwIr, Lneo (la's Xt B3i
llrlll .1 (1 L'H ift 20
Hurr & Sunq t c 0:1 n.i 3
in pM t c r3 r,ft .-s
Blerlrlc Storage or, (HI llftS
lien-Till Asphalt 23 20 3
do rM n.i (il
Ke sli.no Til rj'? 1M4 11!4
I.Hk Stll Corn 22 22Vh 2.'le
Lehigh Nnv S1'4 S2V Sl'e
I.elilsh Vnl iisU HN4 (it4
Ihlsh Vnl Tr an sil'4 2(1
do rM 4ft'3 411 4ft
Penna It II S.H1 M4 M
PhlU r.lic .'124 32V :ia'i
Phii.i (.'( 3s ,n as
ilii ft tier ci-nt 11M 31s ail ail
ilu 11 per cent pfd 111 4'.. 414
I' It T t c sn4 at 31 S
Heading lift'! Ilft'j ,
Tonounh llolmnnt 14 4 A 4S
Tunopah Mlnlnit 11 H4 n'i
Pnlon Trnctlnn ta'i 4.1". 43'.
r o 1 hS'i SS4 ss'
C S Sliel 1 10t 111 lla'd
Vorl: llwy I3'e 14 1
iln pfil 3ll .17'i 3I!4
Wm Cramp t 0 S3 Ml 8s
Saturday
.akptl
r.4'
as
us
Aft
rlllV
an
no
134
. a.1
sal.
m
anw
411(4
34 U
aa
.T.14
an
424
:ii4
04 Vi
44
14
44
S!l
lt3
14
37'i
S0V.
New York Bond Sales
131100 Albany t fus. 34".
llniKi Amvr Aar telj fti
Kioooo Anelu-Krcnch 6.. ..
. 50(1(1 Am Knrelmi ric us..
IIIMHI Ainer Tel lit 4a
Iiiioiiii ilo As
laooo Amer Writ I'ap fts...
aiuuil Armour Co 44
II .Mm Atchison sen Is
1IKIO do res- 4s
IOI10 do Bill 4s
1 dun 1I0 cv 4s 1IM10
2IIOII Alch i. V. Okla. 4s. . .
loon Halt & Ohio .14a
3HIIII0 iln As
lsnoil do 4s
4MMMI do rv 44"
2110(1 1141) I" I, i: ft W V
. 1111
.1(1(1
. unli
. S14
.Km
.102
87
41
23
8
13
12 1
20
53
34 1
6? 1
24
06 4-
43
21 4-
131 4-2
103 i
110 3
101 1
23 ',
03
53
28 4-2
38 4-
47 1
113 4-
70 I
161
62
20 1
93 -1- 1
70 2
103
3
20
37
UH
33
220
64
04
27
A9
102
17
13
1,1
4-
2
4-2
57
104
43
100
130
.137
536 226 1
United Alloy Steel 47
United Cigar Strs.10t
United Fruit 143
n.tllmors
Uoiton ...
at Loills,
Cblcsio ,..,
6.O48.08S
5H,MI).7B
27.242,018
K6.401.623
0.702. 1)33
23.072.100
17.888.574
68.810.172
y'
Wu
BAR SILVER
4. 8S. 881
16.DOS.447
14.727,877
68.7oT.053
FOREIGN EXCHANGE
NEW YORK, March 12. The foreign
exchange market opened Inactive and In
the main steady, The exception was Ital
ian exchange, which declined to within a
few points of the extreme low record
reached a week or two ago.
Quotations follow:
Demand sterling ' 4,76 ft, cables 4.76 A,
Ixty-day bill nominally -4.72, ninety-day
bill 4.70.
Franc cables 6.84. checks 5,85.
Relchsmark cables 68ft, checks 68.
Venna cables 11.10, checks 11.08,
Swiss cable 6.02, checks 6.04.
Guilder cables 40i, checks 40ft.
Buble cables 27.72, checks 27.63.
H-B ctthUk ?HI hibm 41 II
Stockholm cables 29.65. checks'.2.6J,
V4
. 10
.1(1 Vi
. 61
.101
. 63
,.113
..11
United Ry Inv
U S C I P & F. .
U S Indl Alcohol.
U 8 Rubber
do 1st pref . .
TI S Smelt & Ref.
U S Steel
do pref
Utah Copper ...
Va Car Chem . .
Va Iron G A C
Wabash . . . . 1 .
do pref A....
do pref B. ...
West Maryland
do pref . . . , ,
West Union Tel
Westlngh MfsT .
Woolworth 141
Wheel & Li R.... 18
do pref 41
Willys Overland,. 16
Wis Central ..... 46
53
103
45
109
120
133
46
100
143
.8
20
H
39
108
63
110
117
4-4
V4
4-
so
104
43
108
46
101
143
0
20
110
60
108
63
1
'V4
4- 74
2
'l
114 110
41 41
60
12
40
23
33
40
BSH
6(1
12
48
36
23
40
OS
60
141
17
3
48
110 3
117
110 3
41 4-
60 1
12
46
5 4-
28
40
OS 4-
oji
141 I
18 1
40 4-1
3sy
48 1
Ex dividend J. I. Case prsftrrsd. IK I Amir
lean Car and Foundry. 1 snd 1 sxtrat American
.Car and yooadry prsfsrrsd.Hs,. mi ,, r. ,.U
11)1111 Halt O Uwn 34 a. .
lliKii) llclh Htei'l rfd fts...
IIOOO llrook Hup Tr fts WIS
noon i" C C A- St I. 4s
lllOII Cal (las & Lien fts. . .
Jlioo Cent Leather 1st fti.
lftllll Cent Pac 1st 4s
7MMHI Chill Copper 7s ....
3(100 I'hea & Ohio 44s
amino do ev fts
21)11(1 Chi (It West 4. .. .
a.Mlllll Chi I'll Sill 44"
alllllll Chi LI A' CI Joint 4a. .
annul M A St 1" sen t.
4DIHI do dlv 4s
liOIMI do Ifil 411a
noun do "cv fts
111(11) do CV 44 a .
latino Chi 11 I 4 I" rM 4s.
1111)11 do Is
4IIIH) Chines, reta fta.
20(10 Cliv Sll Line 44a.
inuii Chi llwy fta
coon Col A South 44a
axtinii City of Paris lis
aaonii con os cv " .
10IIII Cumberland Tel fts..
2(1011 Del fr Hud rtd 4 . .
511011 Den & lllo llr rM fti
ftOO do Bs
210(1(1 Ills Secur Corp fts
lftiioli Krhi cv 4s Her 11
IhOOU do cv 4l Ser l . .
anon do iirior 4a
anno (Ireat Nor 1st fts...
S.'llll Hud &- M,in rM fta ..
3IKIIIII 111 Sleel deh 14 a
100(1 Indiana Steel fts
411(10 lima Central fts ...
anno III Cctiiral 4 lft3. ,
laooo lnlerh It T ref ftB. . .
annul Inlcrnl Paper fta ...
anoo .lap new it . 44a...
.11)011 K C Kt H ft 31 4s. ..
aomi Kan City So ft"
2(1011 do Ter 1st 4s
limn l.i.rka Sleel fta 1U23.
1(100(1 do fts 11)30
10(111 l.k Hh del, 4s Hia8. .
Minn do deb 4s 11131. .
Kaii.i, I It. 4. M T Sa . .
KKio Lexington s: liasi us.iui
12000 M.-X Tet Co 0s ser A.. 100
7(10(1 do Ms ser C 10(1
lllilill M St I' S H M 4a 4;i
41)00 Mo Kan ft T 1st 4s.. 74Vi
1IIIIO do rfd 4a SS4
tlftllOO Mil I'm- If I ... .0ft"
2(1(1(1 Montana rower us
anno N Y I! I. S a4s .
22(100 N V C ft II (is ...
10011 do 4a
02(10(1 do 44 s OR"
10110(1 N V City 4s 1037 1004
11)11(1 da 4s lOftH JIMIJ.
110(111 N Y City 4a 11)511... .1(104
1(10(1 do Pil IHdll . .... -JOIH
Ilium do 44s May 1lift7..1liK4
a do 44s Nov ll)ft7.,KI7U
700(1 N Y Clas II 4 1 fta.. 1024
aftllll NY Nil ft II 4s 11150. OS
200(1 do 4s 11155 OS
100(1 do 0s 1024
10110 N Y O ft W 1st 4s. . . . 7H!4
loon N Y Tel een 44s .... IUI
200(1 N Y W 11 ft II 44s.. 684
120(1(1 Norf ft West 04
mono Nor l'ac prior 4a D34
lono do sen 3s J4
1(10(1 Oro Short I. 1st (Is... 10614
Iftooo Psr Tel 6s inn4
7000 I'acifto Oss Ss. , 014
500(1 l'ennu gen rt 44 s. . . . 1021
20(1(1 do -IS llinil nns
"(10(1 do in 44h lOftS
liiiioii 110 ivn 11.. 1...
amill Peo ft F.SBt 1st 4s
2(100 Public Herv N J 6
BIIOO Heading: sen 4s. ,
jnoo llpn lr ft Steel fts
noon st I. t M ft So 4s . . . Ht
ATonn H 1. S V alt (la.... 7ft
10(10(1 do In fts ft34
411000 do 4s ser A 074
1000(1 do fts Ser II Sft
1000 8 A ft Aran I' 1st 4s, ns.
100(1 Soulh Ilell Bs .1"".,
Sloiiil South I'au 4s SSH
1060110 do cv 4s, S6S
7000 do rfd 4s 014
N3I0OO do cv Bs 101
10000 South Hwy ten 4s.,.. 714
IHOOU do con fts '"IS
Biioo South Ity St lil 084
4000 Sparta 4s, U14
B000 Tenn Cop ret f o..... 0H
1000 Teias ft Pac 1st Bs.,100,
anno Third Ave adj Bs . ,,. 87
lliuo lOKin oa .1
70IHI tin Fust Qas 6s,,
Clone.
Hit
102
1124
1111
IU4
Hit4
'.Ml'.
114
044
ua
Nftl
11124
11114
1134
Iili 4
1 wa4
044
88
uoV
mo
1 im4
1 814
Hill
102
1 no
tan
1 s4
, in.
71
1 I1K14
, OS
. 024
01
; i85
.1(104
. ns'4
. 1144
. 044
1112
. 784
. .1084
. . 111
TRADING ON PHILADELPHIA EXCHANG1
MEASURES UP WELL WITH RECENT DAYSl
" 4
Reading Is Strong, Showing a Gain at One Time of Morel
man o'u roinis iiune j.ua iveports
Good Earnings'
While there was a fair amount of activ
ity on the Philadelphia Stock Exchange to
day, morn than 18,000 shares navlns;
chanued hands by 2 o'clock, yet there were
no very Important developments In the list
ns a whole. Heading; was one of the out
standing stocks ns far ns strength was con
cerned, thnt lsue belnB up more thai 3
points at one time during the morning.
l'nrt of this i?aln, which wns largely due
to tho better demand for rails on the New
York Stock Kxchange, was lost ns the day
progressed, but when the close came there
was n substantial net change of n favor
able nature as compared with the final fig
ures of .Saturday.
Lake Superior Corporation stock, which
made up the hulk of the trading on Satur
day, was In the limelight ngaln today as
far as the amount of trading went, hut the
activity was at the expense, of the price.
At one time the quotation was nearly 2
points hclow the final figure of Saturday.
For a time Lehlch vlt.. .,,
" -" JUiiroi ,,. f
fraction higher, but around mldaft,
iiiu mm: snoweu H decline of a full n.i .1
- ...uh. t.
In the majority of the list there were
but the
great,
declines In most
cares wer(
Iomu. YM
Pot
Philadelphia Hapld Transit trust r.-,.
tes got up n little, but the ..."""l-i
not held very long. In th oV. ' ."c M
cates got up n
not held very
Issue was off U
nfl..K. .M 1
The sain a imAi,...!.11" -I
was recorded In United Gas Improve!.. ' 'I
Pennsylvania ItAllroad and Crar K,"1"' I
;"7' ..... "'"" '"owed
I I IJ LI 1 1 L Ul 1VIIVIL
Shis.'
fair
- The Acme Tea Company continues t
pon goxt earnings. Todav the i.Vi -1
for the fhlrty-day period ending with it. . I
3, 1917. came out. The total was 1 1 IVAh i'l
an Increase of U10.362, as comnsred M A" !
corresponding period of the nr.vi
ir. i-r"iioui
th
yea
WHEAT IS WEAKENED
BY WEATHER REPORTS
Rains and Snow in Middle West
and Poor Shipping Condi
tions Cause Slump
flllAIN IIKI.T WKATIIKR FOUKCAST
CIIICACO. .Murrli 12. The weather fore
est for thirty-six hours fnllonsi
Illinois. Missouri. Kansas. Mouth Ilatols
and Nebraska t nellle4. probshlr rain or
now tonlcht and Tuesday;, not much rhsme
In temueratiire. . .
Minnesota and Wlsfonnln lair north, un
settled south lonlsht und Tue-dsl not inurh
rhsnse In temueratiire. ...,,,
North Dakota Partly rloudy toolilit and
Tuesday, nnrnier lonlsht.
CIIICAOO, March 12 Wheat suffered a
seiere sinking spell today, with May the
heaviest loser. The Influences wore gen
eralrains over Kansas, snowfall In Ne
braska nnd unfavorable shipping conditions.
Hig Interests were sgnlnst the market nnd
new buying support was lacking. Leading
cash houses unloaded spreads between the
new and old crops nnd premiums were
narrowed. Stop-loss orders were uncovered
as prices descended.
The statement on the visible supply In
the t'nlted States was bullish nnd it caused
n rally which was short lived, heavy selling
pressure again developing and the market
going lower than before. The statement
showed a loss of 1.780,000 bushels for the
week to 43 136,000 bushels. Clearances
from the seahoard were liberal and funda
mental conditions favored higher prices, but
the activity of tho bears was too much
to overcome.
The trade wns discouraged over the ran.
road traffic outlook.. A commltteo headed by
President Crlflln. of the board, expects to
take up Chicago's car problem before th
interstate Commerce Commission tomorrow,
when a protest will be lodged against the
small amount of equipment allotted locally
by tho railroads for shipments of grain.
It Is estimated that more than 30,000.000
bushels of grain nre waiting to be forwarded
to the seaboard from here.
Reports from Washington that President
Wilson had been ordered back to bed
aroused Intense interest. There was a rally
from the bottom on tome covering. After
having been as high as $1,861. May broke
to $1.79. finishing at $1.80 to $1,804.
compared with $1,861 nt the end Saturday.
After touchlne $lrf7. July dropped to
$1,112", closing at $1.53 to $l.B2i, con
trasted with $1.564. Saturday's last price.
September, after having reached $1.46. de
clined to .$1.42'i, finishing at $1.43 to
$1.42?i, against $1.4B4 at the close Satur
day. . . ,
The market at Liverpool remained firm.
Shipments from North America for the
week amounted to 7,301,000 bushels, the
United Kingdom getting 1.762,000 bushels.
Weather nnd crop news from Uuropo was
bad. A pronounced scarcity of supplies was
reported from Russia, France and (Ireece.
Corn gave way grudgingly. There was
reselling by eastern buyers, who despaired
of getting the grain through and unloaded.
L'adlns futurra ranged aa follows:
Rat'y'a
Wheat Open, His 1
Mav l.Rd'i 1.HI14
July 1-S J SJ
Seplemher. . . 1.454 I 4
Corn (new delivery!
COTTON IS ACTIVE
AND PRICES ADVANCE i
1 I
Good Gains at Liverpool Have J
Bullish Effect Wall Street
Shorts Cover
COTTON IIEI.T WKATIIKR fONDITlnva
l-T-'T' '""""'m and N.sl.tllle M?ffi:
f'bMKu;:; .? il'stxx -
NKW YOnK. March 12BulnM, M
active at the opening of the cotton msriit
nnd price's advanced 11 to 26 points ., ..
call In sympathy with materially hljM ,
.:ci le-corieu irom Liverpool. Covmbim
of shorts by Wall Street was noted, t,
good buying by Liverpool of the nur
months ano purchases for continental sc
count of the new crops. Commission home,
and some spot , 2.$ ts were sellers ana
local operators tik "irofits,
Theie was enough! realizing to ctust
slight reactions rlgh j after the call, but
offerings were very wljl taken. This secnua
largely due to active rtiymg hy hounes with
Liverpool connections! who took a fooi
many contracts out (J the ring during the
first hour, supposed'j to undo straddles.
Such buying naturay strengthened tin
technical position, b'it the advance mi
checked around l8.10Lfor May or about II
points above Saturdify's close.
In tho early nfterrljon prices ruled firm
on very small tradlniT. Advices to a lead
ltg local spot firm stated that southwest
Texas was suffering fsverely from drought.
noi come soon the
nnd that If rain ill
entire crop would he
Low. Clo
1.7US l.sos
1.524 1.5S '
1.42'J. 1.43
close.
1 N
1.(1(14
l.ir.ij
l.(IH' 1.07l tl.08Ji
i.oiiC i.oe i.o?i.
1.0AS l.OO" tl.07.
l.onv;
57
55S
.18.U5
.18.110
.17.52
.17.85
SJJ
18.07
18.U7
SO
50
1S.07
1R.V2
17.52
17.B0
17.40
17.47
17.50 T17.55
17. 55 17.011
33.0(1 sga.!!! S3.32
32,45 32.5(1 t32.07
The exports for thl day aggregated lilt
unicn.
Sat. close.
March lH.OB
May 17.87
July I..17.B!)
October 18.82
Daeember ....10.04
Spot 18.25
i failure.
Llv
i-erpoill
Illsh.
18.40
18.10
17.60
138 111.88
l'l 17.08
lT-
CjtfOn
!)-. Cloie.
IS.I'S
17.01
17.72
H.82
16.93
1121
U.5
1T.7J
im;
HIS
llll
LIVERPOOL, f.-a.-ch "2. Spot cottoa
today v is report quiet at 25 points !
vance, t 1 the baBls of- 12,19d for mid-upland.
The sales aggregated 6000 bales.
Including 4000 bales American. The im
ports were 47,000 bales, Including 14,(01
bales American. The market for futurei
closed firm at a i)ct advance of 256!'
points.
E. E. Delp Grain Co
GRAIN
Export and Dotneitlc FUTURES
Correspondents
nARTLETT. FRAZIKR CO.
CHICAGO
453 Bourse, Philadelphia
Private wires all Grain Marketi
Members Chicago Board Trade
Olllllllllllllllllllllllllllllllllllllllllllllll
ar H - 9 A
.100
. 70
. (II
. 04U
1'ioH
1000 U B Oovt Sa ..
5000 II H IluBr Oa
....loo
101
102'
SdlUKI It H Steel s f Rs 10A
aooo union jis t- o ;
4(1011 Union Pan 1st 4s,,,., 07
1(1000 do rtd 4s... 92
-.soon tin llwys s f 4s,..,., 41'
101000 u k of a n 4 i bs.,. S71
254000 do BHI 111 0
255000 rid 5V4S 11 new,,. V
20S0OO do 5Ss lll .,.,..-117
4M0OO. doSs 1K21 ,
lllisi va ia.i i-niii oi,,,,,,'u
102V
I0BI
Si14
A AAA Va UufVsl !
1000 West RUctrlq Bi l2i
ntwiii ' jmi,
.
01.
T3.
1D1
1000 West Shore 4s , ; JjH k$
l,tKjl&L& eggs Ul ;8. U.
INCORPORATED 1803
THE PHILADELPHIA
NATIONAL BANK
Philadelphia, March 5, 1917.
RESOURCES
Lpans and Discounts $56,203,148.25
Customers' Liability Under Letters of
Credit and Acceptances 8,894,307.83
Due from Banks 16,821,634.29
Exchanges for Clearing House "3,964,312.77
Cash and Reserve 18,900,034.41
$104,783,437.55
LIABILITIES
Capital Stock
Surplus and Net Profits (earned) ....
Circulation . .
Letters of Crc'dit
Acceptances
Acceptances of Other Banks Sold
$l,50d,000.00
5,367,505.65
102,997.50
2,962,436.16
5,280,887.35
1,471,413.56
H . ( Tnr1irtr1i-i1 C4 n om oi
1 UeP05itsBank 33;-; 88,098,197.33 j
$104,783,437.55 !
.. ii, nun, rresiasnt.
CIIARLK8 1 11I.INK, Jr.. Vlte.rresi WIX1AM 8. MADDOX. Vlre-Pres.
1IOBACK rORTESCUE. Vle-P,waent and Cashier.
O. HOWARD WOLFB. Asst. Ctshltr. OEOROK F. GENTES. Asst. Cashier.
BTE'L,2'V.T.et;.A,t' ??? ,)AVID w- 8"WABT. Asst. Cashier,
FRANK l'.BTEPHKNS. As.t.Csisl.r. EDOAK ROSS, Mir. Forelsn Wept.
DIRECTORS
Ssmo.l Res
llsrr 8. a Pne
Thoniss . Oates Al
imm o vv ins mi
M. Vsuelsla f;
n. Donnsr
.--, ... -i , . Wl
Klehard Ashharst
(leorss Wssd
Alfred V. Hsrrlion
Ve.il lv.
JrS.S"'B w,lffi
Wsllsre I), Dlmmaiis
risnorl I). Wserlner
AlVK fl. lllnLv
idso K. Jonimon
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