v ;:
"V M
'vt 'V
IB'
m
PI
r
ft
W
Pk
N"
?
71 ff
r
eg
ii
?v
eK.k
If
wi.
T
r.iV
rx
4
?A
'. K
Pi'
f'
J
HodTep Automatic
Tybe writer
. Atatat 'proposition on a colni
, fctj.lt, bavin f mo bond or prtferrad
' ataek. Controlling and manufaetur-
katf a nachtna that hat revolution
. iMtt.taa corretpondenca field.
vr Used and hlihly endorsed by, tht
J? tartait conctrna In tht world.
y Order on hand greatly exceed
raciorjr, capacity
Tit aharea In our opinion pottett
miaaal aafatjr and pottlbllltlet. We
i are ontrini a portion 01 treasury
aaaroa at tu.uu per snare.
Write us or d(allrl Inormallon, or
call at our osier and te
demonstration.
. BERGMANN &. CARAHER
"LAFAYETTE IIUIUHNO
rlfth nnd Chestnut !!.. rhllitdelphU
Telephone iKimbnrd 2814
Hw York llaston Chicago l'ltUburth
Oun FiEosoEsr rCo.
AUTOMOBILE BANKERS
Offer special facilities for In
dividuals or automobile deal
ers to finance tho acquirement
of pleasure cars; and for
business houses to tlrnnca
the acquirement of commer
cial cars or trucks. If you
re thinking of purchasing a
car of any kind for my pur
pose the FINNI3Y SYSTI'M
will make a Better business
transaction for you.
REAL ESTATE TRUST DUIt.DINQ
PHILADELPHIA
Charles J. Bender & Co.
INVESTMENT BONDS
Utmbers Philadelphia Stock Exchange
NORTH AMERICAN BLDG.
ANNUAL MEETINGS
llSS5 WESTMOUEIAND COAL CO.Ul'AXif
(35 Uttlcei fU couth Third Street
Philadelphia, March 1U. 1017.
The Annual Meetlns of the Btockholdsra ot
the Westmoreland Coal Company will bi held
at the ofDce of the Company on Wednesday
April 4tb. 1017. at IS o'clock noon, when an
lection will be held for threo Directory to tervt
three years. HEItMAN HOLL.
Secretary.
LEGAL ADVEBT1SEMENTS'
ESTATE UJT LOUIS U1EFKU. DC
raeil Letters ot Administration nn
the above "ato bavins been Kfanted to tlio
vnaeraisneo. mi persons inueuieu 10 mo taia
state are t aumted to make payment, mid
ttto-e havlne claims to present the uame, with
tit deity, to
MABRETTA n. KirjFEH.
Administratrix
Or to her attorney,
C M. BOWMAN.
818 Real Estate Trust Tilda:.
New York Bond Sales
HlBh. Low. Clone,
1000 Amer Art deb B lnil'i 102'i lO'JH
112000 Anelo-French Cs .... !US l)2?i 02
tlldil Am Korelgn Sec 5s .. Hi! nil nil
11000 Amer Tp1 lis nil's 101 lot
noon Amer Writ Pap &s .. IH's Iil'i 01Ti
15000 Atchison een -Is .... tM't til1, in';
1000 BdJ 4s !P44 M 4
2.1000 Atchison cv 4s 1000 ..ln.' Kir, Kir.
3000 Unit & Ohio 5 100 10Ui 100S
26300 do 4s HIS MiU dt'i
81100 do Swn 34s Ml. Ill', illH
4000 Draden Copper Os ... JitlVi 1W1V4 tHH
8800O Chill Copper 7s ....131 13 130'
2000 Ches & Ohio cv Via S.l'i x.-.Th :.'
104000 do conv r.s 112 til' IK!
1000 Chi Qt West 4s .... 70s 7o i)
10000 Chi Un Sta 4Hs .... 00 lia HSi'i
2000 Chi B & Q Joint 4s.. II7' !I7S4 07
10110 do Ken 4s ll.Vi ICl'i ti:i;
1000 Chi M & St P sen 4s. Ill's Ill's ill',,
JOOOO do 4s 1025 IP4U II 1H 4U
nooo do rfd 44 s 113 li.Va 034
2000 do cp .Is HiL" lltt'l lUJVi
Jl'000 do cv 44s HO HUH 09
1000 Col Inilustrlal fPs .... Ml1 H0', HUM
1880O City of Paris (is .... 014 01 044
100O l)s )ecur Corn 5s... 7 117 07
15000 Krle conv 4s Ser A., rt.'i - !-'
1000 do 4s Ser D 70S 7.1s; 70J,
1000 Oen Klei- deh 5s ...!044 1014 1044
B000 Oreat Kails Pow r,s..l(ll ltll 101
3000 III Central 4s 1033... Oil Ml Oil
SOOO Interb 11 T ref 5s.... 07'i 07'i 07'i
SSttOOO Inter Mer Mar lis.... 054 00
18000 Kana & .Midi 2d 4s.. 47 47 47
1000 LIB & M T 5s 100 1004 100J4
looo do 7s r.'HVi lasu l'jst,
JOOO Lorlllard Bs 100V looI 100
1000 do 7s l'J5 125I 125I
1000 Iuls & Nash 4s.... 044 044 044
7000 Ilex Pet Co lis Per C..107 107 107
1000 Minn & St L 4s r.d'i Ml'i r.0'1
1000 Minn St P S S M 4s.. 01 04 04
000 Mo Kan & T 1st 4s.. 744 73 744
8000 do rfd 4s 01 (It 01
4000 do 44s 3'i 30 an
40000 Mo Pac 4s w 1 (Ill (15S fl'l
8000 Montana Power 5s... IHIJ4 Oil noVi
12000 N Y C I. 8 34s 77 77 77
88000 N Y C & II U Ill 110H jin
2000 do 44s 07j; 07J. 07H
loooo N Y City 4'Js 1000.. lol, 1014 101H
2000 do 4s 10(11 1024 1024 1024
1000 N V N 11 4 II (Is. ...1014 1014 IOIVj
100(1 N Y Tel cen 44 s .. 07, osfi OHTi
4000 Norf & West 4s 00 00 0(1
1B0OO Nor Pac prior 4 034 03'i 034
1000 do Ben 3s HtlU ,tiiu i;i)4
SOOO O , V II & N 4 M 81 84
3000 PaclHc Tel ,'is 100',, 100U 100'i
10000 Penna en 44s 102 102 102
lono do 44s 1021 inii ioi; mm
8000 Peo & East 1st 4.... OS 07 (IS
4000 People's (las 5s 1001 loo Kio'i
8000 neadine Ben 4s 014. 044 044
1000 Readlng-Jer Cent 4s... 044 044 044
0000 Hep Ir & S .'. 100'A mot KiiiN
7000 St U & S V ajt Os... 74 i 74H 74H
llOOOO do in 3s 57 Bil 50
10000 do 4s Ser A (174 (17 (174
6000 do 5s Ser II 85 84 85
10000 South Pac cv 4s 854 854 854
11000 do rfd 4 lili 01 H in H
6S00O do cv 5s 103 102 1024
8000 South Rwy gen 4s.... 71i 71', 714
8000 do con Bs 101 100T4 100
1000 Tenn Cop ret f P 004 004 004
1000 Trl-Clty Ss B8 s BS 58
1000 U 8 Rubber Os 1(I2',4 1024 1024
10000 U R Steel K t Bs 10H 103, 10(1
88000 U K of O II A I 5s... 07U 07U 07't
114000 do 54 s 1918 1104 00 004
147000 do 54s 1019 new... 00t 00 00
1S0OO do 54 s 1010 0(14 Oll'l 011
8B0OO do 54 s 1021 Oil 05U oil
10000, VaRwys 5s 00 00 00
2000"W,rTlst ct f P 4s.. 33 33 33
' 1000 West Elec-Bs KH'l KiT'i 101
4000 West Md 1st 4s....... 704- 704 704
5000 West Shore 4s kii 80 f.0
1000 West Union 4s. .. . . . , 09 00 09
Total tales, $2,388,000. compared with
fl. 081. 000 last Huturdayi thus fnr this week.
917.072.000) last week. $17,792,000.
CLEARINGS EXPAND AGAIN
Total This Week Above Last and Same
Period of 191C
A further expansion of the business of
the banks throughout the country Is shown
by the total of clearings for the week ended
today.. The total this week was $5, 530,5:8, -072,
aealnst $5,421,354,121 last week nnd
$4,339,268,214 the corresponding week of
last year.
Details follow:
1017. 10ia n rt
jyijeir York.. .$2,730,347,417 $2,242,800,847 i.S
Cnleasro
V J'fhll1IPhla.
-i Kansas city.
'ft. Louis....
i " ' an 'Kranco.
Pltttbursb...
fc iPetrpIt
.Baltimore, .,
t -K. Orleans..
884.7fl2.87S
283.035.704
178.807,231
00,093,711
104,007.272
72,311.001
fl8.tlft7.804
45,778.030
82.004.87(1
32.002,853
171,423.341 4-0.1.5
100,00(1,303 4- 5.B
00.008,307 4-40.0
77,344,850 85.8
47.871,000 B1.5
53.133.705 4-20.8
30.711,010 4-40.1
30.130,00.1 4- 8.2
20.000.000 4-OS.O
i even cities,
TftsirSllVi 'K''6'U! I3.210J78.772 28.3
j'y"" "35.418.014 450.274.807 87.1
Teial all'cltlea '
, ,tya.f.. $4,850,028,089 $3,887,033,609 28.8
-.v.M?"" .
872.214.575 31 0
l,l'iy..,.j 88.409.83
napi ai cni"
week, .$5,538,028,072 $4,330,268,244 27,6
"Krnnrta la Pabrnam
tf'I2ff-.'.Me-,l 24. Exports of the
"'T-' - tl-WI Inereaae
..........J5W.a. .?4.?R
i J1T .!
m
FINANCIAL NEWS
FURTHER PROOF OF SOLD-OUTCONDITION
FURNISHED BY SMALL STOCK OFFERINGS
Advances Occur Despite Efforts to Depress Prices Bank
ing Interests Accumulating Railroad Shares.
$ Better Tone in Coppers
High Points in Today's Financial News
Stocks in Wall street in sold-out condition. Offerings were small. Strong
tone on Curb. Foreign exchange dull. Wheat and cotton higher. Price of
bar silver lower in New York and London. Dank clearings of country for
week showed another gain. Average and actual harts gained in New York
bank statement. Surplus increased in average and decreased in actual.
NEW TOniC. March 24.
The bonr element operating; on tlio Stock Exchange is apparently becom
ing moro Involved as the result of dally efforts to depress prices, putting those
committed to the bear side In a seemingly hopeless position, from which It
seems Impossible for them to extricate themselves. Today "Wall street was full
of talk, especially from the German side, of bullish demonstrations being unrea
sonable with (he nation so close to war; but these interests, while talking
a Good deal, did little on the selling side.
Tho small volume of offerings gave further proof of the sold-out condition
of tho market and of Its sensitiveness to bullish Influence. Those who were
opposed to an advance insisted that it is unreasonable to assume that tho
Interstate Commerce Commission will grant higher freight rates, as thus far
nothing has occurred to Indicate any chango in tho attitude of the commission.
All these arguments nnd expressions, however, were without effect outside
of the clement already heavily short of stocks.
Kor a tlmo In the early trading llttlo vigor was shown on tho bear side by
the room traders to offer the railroad stocks down 1 to a llttlo more than 2
points, but before many minutes passed tho upward movement was resumed,
with Reading leading with an advance of more than 2 points to above 102,
and Union Pacific, after selling at 142, advanced to above 145.
Tho character of the buying was extremely good all through the half
day. Banking Interests apparently desire to accumulate all the railway stocks
possible without much regard to price, nnd this created the impression that
tho leading railroad and financial Interests aro confident thaf the commerce
commission will see its way clear to permit a substantial increase in freight
rates to take effect within a reasonably short period.
There was a better tone to tho copper stocks, with Anaconda moving up
about 1 point and Utah Copper, after yielding slightly, made a substantial
upturn. The Marino Issues met realizing sales In good volume, nnd both the
common and preferred declined around 1 point from tho opening prices.
STRONG TONE RULES NEW YORK CURB,
WITH OIL STOCKS MOST PROMINENT
NEW YORK, March 24.
A generally strong tone was shown on the Broad Street Curb in the half
day's trading, with the oil stocks continuing the most prominent feature. Mer
ritt Oil, on which violent bear drives were concentrated yesterday, advanced
to 30V4. and Federal Oil, on fairly large trading, sold at 7, tho highest price
touched in some time. Midwest Refining ranged from 143 to 140. Osage sold
at 9 nnd 9?i. Sinclair sold at 55?i. Cosden OH sold at 14 and 14.
Tho railroad stocks were fairly strong, with Rock Island common selling
at 38 to 38, the "B" preferred at 73 to 72 "A" preferred at $6 to 85.
Midvale Steel ranged from 61 to Gl. Zinc Concentrating, In which there is '
persistent accumulation because of recent Important developments, was traded
in at 3 to 3i. Submarine Boat sold at 23 to 24. Wright-Martin Aircraft
sold at 7, and American Writing Faper changed hand at 4. Chevrolet con
tinued in supply, diopplng from 133 to 128.
Copper stocks showed little change. Magma was traded in at 47 U. Butte
Copper and Zinc sold at 11, Big Ledge at 4U to 4, Stewart at 7-1C and Tonopah
Extension at 3 and 3. Long Island Railroad debentures sold at 88, French
now Gs at 99j and Russian Bs at 88 to 884.
INIiUSTKIALS
Bid
3i
8
2
23
44
5
Yes. close.
Asked, (sate)
Aetna Explosives
American British MfK ..
American Marconi
Am Sumatra Tobacco . . .
American Writing Paper
Hanndlan Car & Kdy . . .
Canadian Car & Fdy pref 70
Carwen Steel 13?
Charcoal Iron T4
Cramp Shipbuilding ... 80
Curtlss Aeroplane IS
Emerson Phonograph .. 12
Federal Dycstuff 40
Haskell & Barker Car .. 42
vHendeo Manufacturing . 24
Kathodlon Bronzo pref.. 3
Lake Torpedo Boat .... 8
Lima Locomotive new... 61V4
Marlin Arms 80
Maxim Munitions 3
Midvale Steel 61
New York Shipbuilding. 38
Otis Elevator 59
Peerless Motors IS
Poolo E & M 80
Redden M T 204
Scrlpps-Booth 20
S S Kresge w 1 124
Santa Cecilia 20
Santa Cecilia pref 53
Stand Motors Tb
St Joseph Lead 1H
Steel Alloys 8
Submarine 23 Vi
Triangle Film U4
Todd Shipyards 32
United Sugar 38
United States Steamship 6V4
United Motors 89
United Profit Sharing . .
World Film
Wright-Martin Aircraft. 7
Z Concentrating 3
RAILROAD!
Rock Island common ... 37
Rock island A pref .... 83
Rock Island B pref .... 72
Western Pacific 19
Western Paclflo w 1 50
Wabash Pittsburgh .... 18
3T4
13
3
24
6
30
75
ts
8
00
23
12
42
27
4
0
03
02
3
1
43
82
17
90
21
40
12 ii
27
60
8
18
84
24
1
85
38
8
39
8
3
38
80
73
3
24
A
isy4
12
42
0
63
89
3
01
10
8
23
1
36
30
"
7
3
37
854
72
21
52
708
318
Wabash Pitts pref 47
STANDAKD OIL STOCKS
Illinois 242 245
Ohio 388 392
Prairie Pipe 335 310
Pieice Oil 14 14
Stand Oil of California. .302 303
Stand Oil of New Jersey. 712 713
Stand Oil of New York.. 320 323
IXUKPHNDENT OIL STOCKS
Am Ventura 23 27 37
Burnett Oil & Gas 2"4 2
Cosden O & G 14 14 1494
Cosden & Co 15 15 13
Elk Basin lt 12 12
Federal Oil 6 8 6
Inter Petrol 13 13 13
Houston Oil 17 19
INDEPENDENT OIL STOCKS Continued
Bid.
Merrltt Oil 27
Midwest 140
Oklahoma Prod & R ... 11
Osage Hominy 9
Rico Oil
Sequoyah 1
Sapulpa Ref 11
Sinclair 55a4
Victoria l
West End O & G 20
Tps. close.
Asked, (sale)
27
143
11
0
1ft
11
56
1
25
29
ii
9
ft
1ft
11
55
1ft
19
39 42 42
13 14 14
W. 4 4
1 1 1ft
10 11 11
1 2 2
i!i HI iH
2 2 2A
1 2 l'J
MINING STOCKS
Alaska Standard
Atlanta
Big Ledge
Blsbeo Copper (a prosp)
Butte Copper & Zinc...
Butte N Y
Calumet & Jerome
Consolidated Arizona . . .
Dundee, Ariz
Emma Consol l
irst isationai 2
Floronce Goldfleld ...... 20
Gila Canon 54
Globe Dominion ,
Goldfleld Cons 55
Goldfleld Merger 6
Green Mons.er 2
Hecla Mining 7
Howe Sound o
Independence Lead 15
Jerome Verde 2
Jim Butler 70
Jumbo Extension 33
Kerr Lake 4
Kewanas 16
McKlnley-Darragh 40
Magma Copper 47
Motherloda 30
Mines Co of America ... 1
Nevada Wonder 1
Nlplsslng g
Ray Hercules ,. ., 4
San Toy 14
Seneca Copper 12
Stewart jt
United Verde 30
Tonopah Extension 3
West End Con 63
Yerrington 30
BONDS
Am Smelting 6s 07 07
Beth Stl 5 p c 2-yr notes 08 08
Cudahy Es 09 100
Cosden Oil 6s ioh lou
Cosden & Co new 6s.... 102 103
French Munic 6s 04 04
Russian 6 Vis 04 0n
Russian 5s 88 89
Sinclair OH 6s no 110
So Rwy 5 p c notes 08 os
Todd Shipyard 6s 100 102
U S Rubber new Es j j2
Western Pacific new Bs.. 87 89
Erie Es ngi Nu
French 2-yr B4s 98 99
New York State 4s 103 ..
Chill Copper Ca 100 100
1
3
25
58
ft
60
8
2
8
7
16
2
75
36
4
18
53
48
40
2
2
8
4
16
12
30
3
71
82
1
2
35
"l
2ft
8
34
18
51
39
4
12
39
3ft
65
44
07
98
99
95
8?
98
02
98
88
FOREIGN EXCHANGE
NEW YORK. March 24. Inactivity con
tinued In the foreign exchange market to
day, but the tone, as recently, was mainly
steady. Lire shaded from the best, while
Vienna reached the highest figures quoted
In some time. Otherwise there was no
change calling for special mention.
Quotations were:
Demand sterling 4,75 9-16, ' cables
4.7G 7-16; 60-day bills nominally 4.72, 90
day bills 4.70.
Frano cables 6.83, checks 6.84.
Relchsmark cables 69, checks 69.
Vienna cables 11.35, checks 11.30.
Lire cables 7.75 '4, checks 7.76.
Swiss cables 5.03, checks E.04.
Guilder cables 40 9-16, checks 40.
Ruble cables 28.62. checks 28.55.
Pesetas cables 21.38, checks 21,28,
Stockholm cables 29.79, checks 29.60.
Chrlstlanla cables 29.20, checks 29.1".
Copenhagen cables 29, checks 28.90.
Sugar Futures Are Firm
NEW YORK, March 24. The market for
sugar futures opened firm with prices 2 to
4 points higher. Commission houses were
g&od buyers and underlying sentiment was
apparently bullish as the result of the re
cent active demand for raws on the spot
and the-reduced crop estimates from Cuba.
Holders of' aufcrar aeemed a little more dis
posed to sell in the cost and freight mar
ket, however: at least offer were her at
yeaterday'aVMlllmr price.
v.tJNKYrLJWDWG IUTBB ; ,
Local Reserve Bank Statement
The condition of the Federal Reserv n.L.
of Philadelphia at the close of business Jpa'rch
23 compares at follows: rcn
RESOURCES
Cold coin and certificates Ml""Ch 23, Mareh
In vault (26,100.800 fi i .
Gold settlement fund ' -4. 474,535
balance ,
Gold redemption
fund.
16,841.000
250,000
13,030,000
250,000
Total (old reserve...,
Legal tender notes, all
ver etc
Total reserve 143,431,732 I J8 807 ifn
nillt dltcounted membert 1,387.148 1 Sln'Si"
143.191.800 f36.660.B55
239.032 147,265
Illllt bought In open
marKei
Total hlllt on hand,.
U. B. Treatury notet...
Municipal warrants....
10.486.450 11.580,787
'11'J.SJ 113.406.080
' J-S?S'222 M9B.000
. 1.377.786 1,377788
Total earning assets, ,y 5,260,880 110,782,887
.118,514,833 $22,668,084
167.582 816,870
Uncollected Items..
All other retourcet.
Tottl retourcet 177,364,084 $78,578,110
LIABILITIES '
Capital paid In $5,260,810
Government, deposits,,..
Due to member! re-
erve account
Uncollected Item
Federal Reterve notet
net ij.
Due to other Federal Re
banks ntt
All other liabilities
Total lltbllltlet.
1.378,877
49,288. 037
18,094,156
$8,259,650
1,062,674
47.828,878
20,43i;!a5
1.403,350 8,304,660
1,818,888 1,151.44a
143,957 138,144
.f77.364.OS4 $78,678,180
BANK CLEARINGS
, Bank elearl
pauaiatT-ewy
to4arr compared with oerre-
,s.v te.
um';t
ii'.-ik'im 'ittJL' - v
. 2atHe7iTBrfaBiBnBr Xa'JsWBTorA 'sTs?aTa?a?atife?srsna
KflttsBHBflHnniMKlBWla'i'ilsHjaKiBK
New York Stock Sales
Net
che.
V
"i
1
1V4
V
y
1
1
'
y
'
1
'ik
-1 1
2
v
m
1
High. Low. Close,
AJax Rubber 68 68 68
Alaska Gold Mines 8 6 8
AIII9. Chalmers Co. 29 29 20
do pref 88 86 66
Am Agr Chcm ... 03 OS 03
Am Beet Sugar .. 03 08 93
Am Can 48 48 48
Am Cor & Fdy Co 70 68 70
Am Hide & Lthr. 15 14 m
'do pref 71 69 70
Am Ice Sec 28 27 28
Am Linseed 20 20 20
do pref 63 53 83
Am Loco 73 72 73
do pref 103 10.1 105
Am Malt t C 14 12 12
do pref t c 57 56 57
Am Smelting ....107 107 107
Am Steel Foundry 64 61 64
Am Sugar 113 112 112
Am Tel & Tel ...127 127 127
Am Wool i. 81 30 61
do pref 07 07 07
'Am Writ Pap pref 82 82 82
Am Zinc and Lead 37, 37 37
do pref 70 60 70
Anaconda 86 84 83
Atchison 105 103 105
do uref 99 99 99
Atl Gulf & W 1.117 116 116
Bald Loco Co.... 60 88 00
Bait A: Ohio 81 80 80
do pref 73 73 73
Batopllas Mining. 1 1 1
Beth Steel 147 US 145
do B 140 137 138
Brook Rap Tr. . . 60 68 09
Butte & Sup Cop. 47 47 47
Canada Pacific. ...166 105 166
Cent Leather ... 05 04 04
Ccrro de Tasco . . . 30 38 39
Chesa & Ohio ... 627 63 62
Chicago & Alton . 18 IH 18
Chi (It Western. 13 12i 13
do pref 37 36 37
Chi M & St P.. 85 84 85
Chi & Northwstrn.110 118 110
do pref 106 166 166
C R I & P 1st In pd 80 38 38
O C C & St L.... 45 45 43
Chill Copper 25 25 25
Chlno Con Copper. 59 57 68
Col Fuel & Iron .. Bl 83 53
Col Gas & Elec . . . 44 44 44
Col & South 27 27 27
do 'pref 50 80 50",
Corn Prod 20 2T 26
do pref 108 108 108
Cruclblo Steel .... 72 71 71
do pref Ill 111 111
Cuba Cane Sugar. 45 44 44
do pref 89 89 89
Del & Hud 144 142 144
DL&W 238 238 238
Den & RG pref... 30 35 36
Dome Mines 18 18 18
Detroit Edison ...134 134 134
Distill Secur 21 20 21
Erie 31 30 30
do 1st pref .... 43 43 43
do 2d pref 33 34 35
General Elec Co.. 107 167 167
General Motors.. .120 110 119
do pref 00 00 00
Goodrich B F. . . . 50 50 30
Granby Cons 87 87 87
Great Northern pf 116 115 113
do Ore subs .. 38 35 33
Greene-Can Copper 42 42 42
Gulf State Steel ..131 130 130
Illinois Central ..105 103 105
Inspiration Copper 62 60 01
Interb-Cons Cop.. 13 13 13
do pref. 66 60 66
Int Harv of N J...118 118 UK
do pref. 118 118 118
Int Harv Corp.... 80 80 80
Int Mer Marine... 36 33 33
do pref 05 03 03
Internl Paper 43 44 44
Int Nickel 40 45 45
Kan City South... 24 24 24
Kelly-Sprlngfleld.. 03 03 63
Kennecott Cop ... 47 46 47
Lacka Steel 87 87 87
L E & W pfd 42 42 42
Lehigh Val 71 71 71
Lee Rubber & Tiro 23 23 23
Long Island 43 43 43
Loose-Wiles Blsc. 23 21 23
Louis & Nash.... 120 127 128
Mackay Cos pref. . 65 65 05
Max Motor B2 B2 62
do 2d pref .... 34 34 34
Mex Petrol 03 92 92
Miami Con Cop.. 41 40 41
Minn & St L new. 24 22 23
Mo Kan & Tex.. 9 8 9
Mo Pac ctfs 13 13 13
do w 1 31 31 31
do pr w 1 57 56 57
Mont Power 103 102 102
Nat Enam & Stpd 35 35 35
National Lead.... 03 61 62
Nev Con Cop 24 24 24
New O Tex & Mex 18 18 18
N Y Central 99 08 09
N Y Chi & St L. 33 32 33
N Y Dock 15 15 15
N Y N H & II.... 47 40 46
N Y Ont & West. 25 25 25
Norf & Western. 133 132 133
Nor Pacific 107 100 107
Ohio Gas 122 120 121
Pacific Mall 25 25 25
Penna R R 55 64 64
Peo Gas & C 03 02 03
Pere Marqt w I... 20 29 29
Pitts Coal ctfs ... 48 48 48
Pressed Steel Car 80 79 80
Pullman Pal car. .161 161 161
Quicksilver pfd ... 3 3 3
Ry Steel Spring.. 51 54 64
Ray Con Copper.. 30 20 30
Reading 102 00 101
do 2d pfd 43 43 43
Rep Iron & Steel.. 84 84 84
do pref 103 103 103
Royal Dutch .... 64 64 64
St L S F . 21 21 21
Seaboard Air Lino 15 15 16
Shattuck Aria .. 28 28 28
Sloss-Sheffleld ... 73 72 72
Southern Pacific. 08 97 07
Southern R R ... 30 30 30
do pref 01 60 61
Studebaker 103 103 103
Texas & Pacific.. 17 17 17
Texas Company ..231 220 230
Tobacco Products 87 57 57
Un Pacific 145 142 142
United Alloy 46 45 48
United Cig Strs... 101 101 101
United Fruit 145 145 145
U S C I P & F.... 22 22 22
U S Ind Alcohol ..128 126 127
U S Rubber 60 59 50
U S Smelt & Ref 62 62 62
do pref 61 61 51
U S Steel 117 116 116
do pref 118 lift lis
Utah Copper ....113 112 112
Va-Car Chem ... 42 42 42
Va Iron C & C. 71 66 70
Wabash 13 12 13
do pref A 62 61 52
do pref B 27 26 26
West Maryland . . 23 22 22
West Union Tel.. 07 07 07
Westghse Mfg ... 53 52 52
Wheel & L E 518 IH 18
do pr 40 40 40
White Motors .... 40 49 49
Willys Overland . 33 33 33
Wis Central .... 62 62 62
Wilson 74 71 73
Total sales, 604,600 shares, compared with
372,400 shares last Saturday) thlt week, 0,502,
900 sharest last week, 2,834,300 share.
NEW YORK COFFEE MARKET
NEW YORK. March 24. The market
for coffee futures opened steady and un
changed Xq. 3 points higher, with trading
principally in the later positions.
&
1
5
V
1
"
4
3
"u
2
1
1
V
''
1
1
1
1
1
14
"
"
1
1
''
1
1
1
iy
1"
'
Ta
i
1
3
H
''
5
1
Y
''
. . 1 . .
2
Today's
opening.
llarrh
April ....
May LBo
June
July 'T.76
August ....
September ..7.96
October .... ....
November .. 8.05
December .. 8,1608.10
January
February
Bid,
Today's Yesterday's
eloae.
close.
'.r..1W7..1S 7.anT"o
7.5007.61 7.6247.65
7.U2W7.U4 7.5&7.8
7.H807.7O 7,737.75
7.76 7.77 7.8047 8a
7.837.84 7.887.80
7.07.2 7.0607.98
7.9507.07 Ji.nO08.Ol
8.0108.03 8.0508.06
8.0708.00 8.1108.12
8.1806.15 8.1708.18
8.1998.21 8.2308.24
NEW YORK BUTTER AND EGGS
NEW YORK., March 24. BUTTER Receipts.
6071 tube. .-Better trading and some recovery, in
prices. Cigala arm. lUfiX''"?- 42442Hoj
aira.--woi nr. en www 1 ' (utiia
etlsef fjpa4jsvflay'f -- " "i'e if-. !-. '
Sales in Philadelphia
High.
Am Rys pf es
Bald Loc. 60
Eleo Stor.. 63
Erie 31
In Co N A 20
Ken Cop.. 47
Lk Sup Cor 22
Leh Nav ..81
Lch Val.. 71
Mer & M. 35
Nev Cons. 24
N Y N H.. 46
Tenna It It 63 Vi
Pa Salt M. OS
Phlla Elcc. 32
P R T ... 31
dn tr cfs 31
Reading
Ho Rwy
Ton Bel
Ton Mln
Un Trac
U O I .,
U S Steel.
Low.
98
89
64
.11
26
47
22
80
71
35
24
46
54
OS
32
31
30
.102 100
30 30
25
220
300
580
23
10
680
833
218
30
10
130
618
3
118
73
89.1
463
220
350
1390
18
83
4060
, 30
Net
close.
Total sales. 10 032 shares, compared with
4730 shares Inst Saturday 1 this week, 108,732
shnresi Inst teek, 10,310 shnres.
IIONDS Net
Illdh. Low, Close, chge.
$1000 Am (ins &
Elec Bs.. 06 08 06
6000 Phlla Elec
Temp Ss. 101 101 101
3000 Reading
gen 4s.. 94 04 04 .....
Total sales, 810.000, comnared "ltll 810,000
last rnturria)i this week, 215,400t last Meek,
8432,000.
4ft
nil
43
00
.117
War I & S. 9
4,'
ft
43
90
116
O'i
change from yesterday
Close.
03
60
65
31
26
47
22
80
71
35
24
46
85
05
82
31
31
102
30
4ft
6
43
00
111(4
9
's New
Net
chie.
1
Va
Y
1
y
sssststsssssis
PPTf! Rcr OP STOCKS HERE MOVE UP 3
A LITTLE ON VERY LIGHT TRADING?
Reading Is Feature, With Gain of 3 Points, Movement!!
Being in Sympathy With Wall Street-xUnited 4
States Steel uommon most icuve
y
v
3
4
ft
York
Local Bid and Asked f
llaMuln Loco
Drill J a
Huff t Susq t c ...
do tifd
Klectrlc Storage . . .
General Asphalt ...
do pfd
Keystnnn Tel
Lakn Hup Corp .. , .
LehlRh Nav
LehlKh Val
Lehigh Val Tr
do pfd
Tenna It It
I'hlla Uleo
Phlla Co
do f, per tent pfd.
do 0 per cent pfd.
P It T t e
llcadlns
Tonopah Helmont ..
Tonopah Mining . .
Union Trac
U (1 I
If 8 Steel
York Hwy
do pfd
Wm Cramp t c . . . .
Todav
Did Asked
(ill1! (Il't
23
. (S3
. 53
. HI
. '-'4
. 04
. Ml'
. 71 'n
. 2(1
. 45J,
. 32H
. as
. 3.'
. 404
. 31
.101 ,
. 4;
.
2!)
I'm
55
(III
211
(III
ia'4
22S
HI
7i ;
Yesterday
niil Asked
n7"i r.s'i
40'7
.Vl 's
32V
SS'j
37
41
31 'i
.5"
imC nn;
litis un'.
L'3
03
ns
in
J 4
III
2'J'
SO',
704
2fl
45Ji
Ml
32J,
37',
33
40'4
30
Oil's
4.
n'4
43Va
20
115
63
fl."
J(l
(Ml
13"i
37
5
15
an
Sfl'J
81
71
2IIH
4(1'?
r. ii
32
3R'4
an
41
31
44
nii nou
1107 117
13 14
37 38
83 C6H
NEW YORK BANK STATEMENT
Loans and Deposits Show Increases.
Actual Surplus Smaller
NEW YORK. March 24. The bank state
ment this week showed gains In loans, both
In the average and actual condition. In the
aeragc statement the feature was the pil
ing up of demand deposits, which showed
an Increase of 324,055,000. Loans only
moved up $7,051,000 and the surplus In
creased J7.004.86O The actual loans gained
$23,380,000 and tho demand deposits rose
$7,489,000. Reserve was brought down and
the surplus declined $21,073,010.
Details follow:
AYERAnn Increase.
Loans $3,505,(168,000 $7,054,001)
Xet demand deposit.. 3.647.0S0.O0O :!4,033.(i00
Net time deposits... 170. 7S1, lino 30,000
Circulation 28,095,000 37,000
Resere, own aults 1507,063.000 2,137,000
Reserve, Federal Ite-
sere vaults 210,578,000 0,024,000
Reserve, other de
positaries 57,141,000 324,000
AEBrecate resene .. 781,3S2,ono 11,737.000
Reserie required ... 029.539.210 4,73' 140
Surplus 151,842,790 7.004 800
tOf which $440,577,000 is specie. ''U4'M1U
ACTUAL
Loans $3,582,286,000 $23.380 000
Net demand deposits 3,050.266,00(1 7,489 000
Net time deposits .. 179,934,000 308000
Circulation 28,044, Ono r,4',ooo
Reserve, own vaults t809,887,000 5.170 000
serve banks
Reserve, other de
positaries 57,583,000 -37 nno
Aggregate reserve .. 774,280,000 10.077'ono
Reserve required ... 031,514.640 1390010
Surplus 142,765,360 21 oVtt'flin
tOf which $449,827,000 Is specie. ,0
OUTSIDE BANK STATE31ENT
State banks Increase
Loans, investments . $108,668,800 17:53 Rixi
Oold 62.032.000 2444:900
Currency, bank noteej 21,5(13,300 74B Ron
Deposits 560, 807.900 0,575 '700
Reseno on deposit .. 133,703,300 1 518 800
Percentage of reserve, 20.3; Increase
Trust companies
Loans. Investments .$1,764,722,700 $3.031600
flold 172,268,600 7,645,400
Currency, bank bills.. I4.8fl0.noo i.7(inonn
Deposits 2.210.037.700 21136900
Resero on deposit ... 483.343,300 5.091900
Percentage of reserve, 27.8: Increase. .2, '
STATE HANKS AND TRUST COMPANIES
NOT REPORTING TO CLEARING HOUSE
I.oans, Investments ..$772,040,000 $663 no
Oold 07,694,400 1,388,100
Curerney, gold notes. 10,788,000 398 000
Total deposits 1,010,939,003 lll'aon
Net deposits 817,628,000 l,284'r,oo
Reserve on deposit .. 2(10.664,400 3,050,'00
Percentage of reserve, 34.1; unchanged.
Decrease.
200,810,000 '14,464,000
BAR SILVER
.- j Last 1017
Today. Yes. Sat. High. Low.
London (pence). . 35. 35JJ 35H 38,', 85 i
New York (cents) 71 72U 73 79 71?,
While the slock market operations In this
city today were small, there was a good
underlying strength during the whole two
hours of trading. Although the changes In
prices were small nnd Irregular, yet the
majority were on a scale upward as com
pared with tho close of yesterday. This
action of the market was encouraging to
tho Street, for, while the demand for any
one stock was not large, It put security
holders In a much better frame of mind
when they noted advances In prices.
Only In one Issilo wus there any, pro
nounced change In price. This was In
Reading. The stock started with a gain
of nearly 1 points as compared with the
final figure of last night and It was not
long before tho quotation had been ad
vanced a full 3 points. While this advance
In price was taking place there was no
great amount of trading. The movement
of the stock hero was In sympathy wUJ
Via tinwiirfi Irnrl In tin, ,t ""Vl
York, where all of tlio railroad stocks were)
In demand with the opening 0f tho Stiv-v
Exchnnge. This demand wns based on tat
requests of the carriers for an lucres.
In freight rates, nnd was a continuation'
or. me uuyuig wnicn started In the. i.
trading yesterday. nB la,
Stock In which the bulk of the buslne,.
Is usually done, such as Lake Supcilor pmi
mlelnhln ltnnlil Trnnslt li-nei ...,'"
and United States Steel common, d'd ve
IIHIo nKhnlltrll tlln tirlnn ...a..a .... . f
(Inn lTnllr.ll StfltM RIboI ,.ni,., i. V "c"
was the most active, hut the trading j I
iiiu iiui iiiutaitiu i., vm it-vt'iu nays,
Tonopah Mining was carried up another
small fraction nnd It. wns the most active
of the distinctly home Issues, but pnly
little more than 1100 shares changed hand
AWAIT GOVERNMENT
ORDERS FOR STEEL
Belief That Producers Will Aid
in Every Way Possible Prices
Advance Again
NEW YORK, March 24. Virtually every
one Interested In steel trade affairs Is wait
ing for some announcement with regard to
Goornment purchases and there appears
to be no question that the prodticcis will
make the same nirangement with the Fed
eral authorities ns was consummated early
this week by the big copper producers.
Inquiry In the trade falls to bring any
thing on which a statement could bo based.
Some Interests aro frank In saying that
whatever announcement Js deemed neces
sary will come from the national defense
In Washington, and although It Is stated
technically that no agreements have been
made, there are many who say the matter
has about been settled, or at least Is on the
fair way of being closed within a very
short time.
It has been known right nlong, of course,
that the Btcel companies would aid the
Government in every way possible when
the time came, and while It was not b
lleved that any materially lower price
would be made, the lead taken by the copper
Interests In naming a ten-year average has
led to the general Impression that tho steel
companies will do likewise.
There have been further advances In quo
tations during the last week, but by far the
greatest attention Is being given to pig iron,
which has been advanced from $1 to $2,50
per ton In vlitually all producing sections.
A disposition on the part of buyers to cover
their tequlrements for the futuie la noted,.
ana it nas Deen me rusn irom mose pur
chasers that has brought about the upturns.
Probably ono of the most Important
branches of tho finished market at present
is that for wlro products. It Is learned that
In some places there have been premiums of
from $2 to $3 a ton over the recent ad
vance announced, with tho buyers taking
nil they can get. For wire rods the demand
Is unusually large and the supply is In
sufficient to take caro of even the greater
part of tho possibilities for orders. All
kinds of fancy prices are said to have been
offered the makers.
Railroad purchases of steel products have
been small during tho last week, but some
orders placed for equipment aro beginning
to bo reflected In the pinto market.
LOCAL MININ.G STOCKS
TONOPAH STOCKS
MacNamnra ,117
Mldnay .1,1
Montana '.'3
Northern Star ir,
Rescue Kula UO
OOLDl'IKLD STOCKS
Atlanta 13U
Mue Hull ir.'
ltooth ns
c O I) 0.1
Combination Fraction o.
DlamondHel'l II II 03
Daisy (13
Oro 02
Sand Ken lit
Hller rick .. . . ,u
MISCELLANEOUS
Arizona United 52
Eden 2
.Nrada Hill .20
Tetopa Mlnlnit .... ,13
.ns
.16
.34
.111
.:
.14
.113
.ll)
.114
M
M
.04
.0.1
.H
Calls for State Banks' Condition
HARRISBCRa, March 24. The Stat
Ranking Department today Issued a call
for tho condition of all Stato banks an
trust companies at mo close or. busineaj
March 22.
jLgaxjULaax. ........ .........,,,
CONFIDENCE
The security-buying pub
lic of Philadelphia knows
that unworthy financial
announcements are rigid
ly excluded from the col
umns of this paper. They
have confidence in the
Ledger and in Ledger
advertisements.
That is one reason why
more and more invest
ment houses are using for
their announcements not
the PUBLIC LEDGER
alone, but the PUBLIC
LEDGE R-EVENING
LEDGER combination.
How about your own
case?
Have you thought of ad
vertising in the Ledgers?
Financial Department
Walnut 3000
Main 3000
a....... ........ IIIIIIIIIIIHIIIII73
SHIPBUILDING
We offer at par
. $1,000,000
Murnan Shipbuilding Corporation
7 Cumulative Preferred
Dividends Payable Semi-Annually. Par Value of Shares, $10
Ocean freighters will be in unlimited demand, at high
prices, for years, with purchasers awaiting their turns.
For Detailed Information Apply
Pennsylvania Securities . Company
828 Commercial Trust Bldg.
15th and Market Streets
PHILADELPHIA
The Officers and Directors
announce the removal of the
FranKlin National Bank
to the
NEW BANKING HOUSE
on
Chestnut Street, West bf Broad
X A TTAPRTtJ t. l,V n .'j...
E. P. PASSMORE, Vice-President.
OFFICERS
J. H. McALLISTER, President. '
E. E. SHIELDS, Asst. Cashier.
Samuel T. Bodino
Henry Tatnall
J. Rutherford McAllister
Frederick L. Baily
Effingham B. Morris
.Percy C. Madeira
DIRECTORS
Ellis Pusey Passmoro
J. Andrews Harris, Jr.
John Hampton Barnes
Morris L, Clothier
C. S. W. Packard
-' Charlton Yarnall
' & W- Atterbury
Edgar CvFelton
Daniel B. Wentr.
Arthur W. Sewall
Joseph Moore, Jr. .
Lewis LUlio
March 24th. 1917
f
Jr' -1