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jDYestment Suggestions
s -
?i Out current general circular
; of sound investment bonds
offers
i
' 1 Variety of issues
a 2-rDirersily ,of maturities
3 Breadth of markets
National and Savings Banks,
Trustees and individuals will
find issues adapted to their
specific requirements,
Yielding 2.90 to 8.50
Send for circular PE-110
TheNationalCity
Company
1421 Chestnut St., Philadelphia
itw ior twesro sn Knnclico
Boston Pittsburgh
' ,
m
-
fP
I-
Questions
of 'Investors
who are uncertain as to the
intrinsic merits of flic securi
ties they arc interested in,
will receive prompt attention
if sent to our Statistical De
partment. DANKKKS
. (Established 1837)
321 Chestnut St., Philadelphia
Pitta burgh
Boston
Chicago
Wllkes-Uarre,
Iteadlnc
Chester and Phila
delphia Railway
First Mortgage Ss .
dui: loio
(CflESTEK 8IIORT LINE)
Listed ob Phllq. Stock Exchann?
Becnred br a dlrrrt llrst ninrtgag
on the entire property of the Cnmnuny.
The road extend from- thV I'hllndel
Dhln Citjr limit to C'heiiterJ 1'u.. and
erres n terrltorr whlrh U Hhoning nn
exeeptlonal expumlon In Industrlul
linportanre.
1'hlladelnhln Rnpld Tranxlt Company
operate' the property under long-term
operating agreement.
Earnings for 1010 were oier 3H
times Interest rharge. ,
TRICE TO YIELD OTEK
5.10
Free of Pennsylvania State Tax
Complete descriptive rlrcnlar on reqaest
Harper & Turner
INVESTMENT BANKERS
Offices 1000-1013 .
STOCK EXCHANGE I1UILDING.
l'lillailelplila
SJLt i
VK..
DIVIDENDS
SERVICE
Our Mr. Chllds will be In the heart of
the Oklahoma Oil Fields from the 1st to
the 1MH of April.
He will be glad to make
A PERSONAL REPORT
FOR YOU ON
any of the Companies operating In the
Mld-Contlnent District. ln8'
Inquiries received at this office, W
be Immediately wired to him at no cost
to you.
Wo are specialists tn
Dividend Paying Oil Securities
Wo solicit orders on Partial Payments
. iw uii.
gWINSLOW TAYLOR & CO.
fill ftalnut' as rffly ",fr II
If
tor
t
?
Sound Bonds
During the past ten years
we have taken part In the mar
keUng of Public Utility Issues
aggregating nearly
SlOO.000,000
There has never been the
lightest delay In the payment
of either principal or interest
on any Public Utility riond sold
on our recommendation,
Booklet "J" on request.
INCORPORATED
k Stock Exchange Bidg., Philada.
S.",',o
LEGAL NOTICES
f'mtUSTEE'S SALE OP A VALUAULB FAHM
Cit" fOAPdTONU PLANT. SOAPOTONE QUAlt.
f .SgiiT'gsfjh ffltte, ffi?S
FtTc TAKUBCT8,oSTHEUN "VAiS&fc
: , ifi.CrU Jfart rSTt&& it M&2&
V tSULDC"r3r C5SSe ,n,'n,liwndlnit under the
' i i8orJ'am jend style of Mrs. Anna E. Schade
f CSratd. plalotlrr. vs. Houthern SoaniJnn. ,.?:
. 'oration et aL. defendants, wherein the under.
Stood vra appointed trustee, with full power
I M-:MMrr. '-?c, and perform the
SBSll Ml out ana enumerated In u certain
Snveyance drawn and executed December t
a (which conveyance la Hl l .u "'rrf
iTtlM above-styled use). in accordance with
L -aindltlona and terme thr.in ..-- .wll.n
I1 otrlctly. In accordance ' with the reuuirS:
Sua and the nurnort thernr :Li.ilEquj!?:
mwi, U recorded In the ClerkV OB le. IS'
fcObuntyi .Va in .D. U. uv. page 00
s utyiie.. ."iij-u irusiee as afore-
Va.. to the Tilghest bidder th
KirtSed ral Aui ptraonal prop
'a ' TT-T"
"Vil'.aM ..- -..
vCSwEZ'IZZur SVUs? JAna "wt
?-"t""'"r-TT -ujiijr, vb,. con-
uiran nni ruianiu - ...
imWi41pM iu.il twfDty.'scven
k wr . DuuaiH
-us;
re -,' "?r """"u on inei north
ier.''on7the .t by tne lands of
a.son the' west y the estate
ami srt
" -f-j.-. - IWUI
Mrkiiuotit Had
f
d on the, north
f.V Vy theuto
n iDuia oy
hJ - -
v-t
s
FINANCIAL NEWS
NERVOUSNESS MARKS STOCK TRADING
IN WALL STREET THROUGHOUT DAY
Delay in Definite Action by Congress on War Resolution
Is Disturbing Group of Speculators Depress
Steel Common
High Points in Today's Financial News
High degree of nervousness shown in Wall street all through day. Delay
xn adtou of war resolution in Congress was disturbing influence. Prices at
c i f V wostly all lower. Stocks under pressure on Curb. May wheat
nold for $2.02 in Chicago, highest since Civil War. Cotton ended higher.
liulmg rate for call money 2K per cent in Wull street. Price of bar silver
lower. More gold sent to Cuba.
I New York Stock Sales
High
71
0
7W
2R
00
07
NKW YOUK, April 4.
TraJitiR In tho stock ninrkct wns marked all throuKh the dny ly a high
dogreo of nervousness and the prlnclpnl chatiKes In prices wcro to materially
lower figures. Tho delay ln definite action by CoiiKresh on tho war resolution
hadn xllsturblnt,' Influence generally, ns all Important business Interests havo
long been waiting for tho position of tho nation in Its German relations to bo
definitely determined. Questions of taxation to meet war expenses wcro freely
discussed and wero used with affect In soma cases ln depressing prices, but
tho most direct market Inllucnco was that which reflected tho activities of tho
speculative clement persistently committed to tho boar side.
This group of speculator put largo selling orders in United States Steel
common, half a dozen houses nlouo supplying moiu than 60,000 rihares of that
stock and forcing Its price down from 110 to IM',4. Drives wero made against
many other issues, but in most ca.fc.4 rallies wero quickly In order. Murine
preferred, after selling at 83 early ln tho day, later rose to 88 U and tho rom
mon stock moved up from SO',4 to 33i. Tho war-order and equipment stocks
wero strong during tho forenoon, but reacted from tho, high levels which wero
then established. Special weakness was shown In tho motor stocks, with
Htudebaker falling from 07 'i to 92?i and General -Motors dropping from 119
to llDVs.
Studobakcr has been mndonn object of bear attacks for weeks on assertions
that tho dividend rati, would be reduced at tho coming meeting, but friends
of tho company offered wagers of 10 to 1 that tho rate would bo maintained
nt 10 per cent. In tho final dealings tho Marine stocks lost a good part of their
gains, while United States Steel common recovered virtually all of Its early loss.
Thero was enormous trading again today In tho foreign issues, with Anglo
French Cs losing part of tho advanco mado yesterday afternoon and ranging
around 91. Pennsylvania general 4V4s sold nt 98U and 9S and Rock Island -Is
ranged from 72',i to 72.
MAJORITY OF STOCKS UNDER PRESSURE
IN TRADING ON THE BYROAD STREET CURB
oNKW YORK, April 4.
Tho majority of Issues traded In on tho Broad Street Curb wcro under
pressure during tho greater part of tho day and some amount of loss was
sustained ln nearly every stock In which thero was a show of speculative Inter
est. The munition stocks wero offered at concessions, with Marlln Arms dropping
from 91 to 89 and Mnxltn Munitions, after selling at 4, declined to 3VJ. Sub
marine declined from 22 to 22 and Central Foundry fell from 28 to 26.
The Independent oil stocks were steady, with Harnett Oil and Gas advancing
to AM. Merrltt Oil ranged from 26a to 25i and Midwest dropped from 142
to 139. Cosdcn Oil sold nt 14.
Tho mining stocks wero generally steady, with declines also In these Issues.
Magma sold down to G3, Hutto Copper iind Zinc ranged from 10 to 10JJ. and
about 8000 shares of Consolidated Arizona sold nt 1 1G-1G and 1. United Verde
sold at 39Vi and 3914. '
INDEPENDENT OIL STOCKS CnnCnued
AJax Rubber
Alaska Gold M , .
Alaska Juneau . .
Allls-Chalmers Co
Am Agr Chcm . . .
Am JJcct Sugar .
Am Can CO Mr
Am Car & Fdy Co 00
Am Cotton Oil... 42V4
Am Cot Oil prof.. OOU
Am Hlrlo & Lea.,.. 10
do prcf (18 Mi
Am Ieo See 27
Am Linseed 30
do pref S2
Am Locomotive . . 70
Am Mnlt IgU
do 1st prcf ... aoii
Am Smelting ....10.17;,
Am Smelt nf A. .103
do pref II 07
Am Steel Fdry. . . 02
Am Sugar 114
Am Tel & Tel.... 125
Am Tobacco 20D
Am Wool nil
do pref lis
Am Writ Pap pref IHTi
Am 52lno & Lead. . 3014
do prcf flV4
Anaconda 83 i
Atchison 101
do pref 09
Atl Uulf & W I. .111
do pr 112
Raid win Loco Co. li)i
Haiti & Ohio 7S'H
do pref 73
liarrctt Co 1IK
Uethlehcm Steel .110
do pr 142V4
Rurns Uros 11
Rlltte & Sup Cop. 43V4
Col Petrol prcf.. 2!i
Canada Paclllc.
Cent Leather . .
Ccrro do Pasco
C'hnnd Motors . .
Clics & Ohio . . . .
Chi at West pref. 31 W
L'lll M & St P H2
Chi & Xwn . .
Chill Copper . .
Chlno Con Cop... 38 5714
Col Fuel & Iron.. 82 VI 30 14
Col Has & Klec. .. 17 IflVi
Comp Tab 43 43
Consol Gas 121 121
Cont Can 01.', 01-?i
Corn Products ... 23V.'i 21 ii
do pref 100 100
Cruclblo Steel ... 71 no
an pref in
Cuba Cane Sugar 48
1 Low Close chge.
71 71 Itt
8Ti 0
IV. IV.
28 28 Vt
80 00
03 OJM
40 40 V.
OR 08"
42 42 2
00 o'i H
10 10
110 06 2
27 27
10 10
B2 B2 1
(10 70
13 l',i 3
01 01 1
103 103
101 101
07 7
01 01 ".4
113 114
124 123
209 200 1
81 32 1
08 08 H
48 48
30 30
08 08 I-
82 83 ai
10.-P! 103
00 011
107 110
02 02 2
(10 00
78 78
73 73
118 118
110 147 I
130 110 1
Sales in Philadelphia
117 117
41 11
32
130
Ol'l
38
100
r
31
81
113 113
24 23
.102
. 03
. 38
.101
00
U
1
1
32
101
t2
38
100
Brt
31
8114
117,1
24
87 1
31
40
43
121
01
24
100
High. Low.
28 Allla Insur 22 22
2 Am Gas ..110 110
78 Am Rys pf 04 01
120 Bald Loco. 00 00
10 n & S t C. 02 B2
20 Cam Iron. 48 43
28 Con Tr N J 74 74
OS Uleo Stor. (14 os
0 Ins CoKA 20 26
20 Kenno Cop 48 48
778 Lk Sup C. 21 20
131 Leh Nav.. 80 S0
0 Leh Valley 60 00
10 Mer & Mnr 32 32
10 N YO& W 23 23
000 Nov Cons. 23 23
361 IVnn.a R R 84 83
178 Phlla Kleo 32 32
108 P It T t c 20 28
, 80 Phlla Trac 70 70
ISO PIUS C Ct. 48 44
110 Ray Cons. 31 SI
200 Ton Pel... 4 4
loo Ton Mln. . 0 0
08 Union Trac 43 43
88 U O I ... 88 87
7060 U S Steel. 110 114
330 Wm Cramp 02 00
10 York Rwy. 15 1.1
Close.
22
119
04
Net
chge.
v
1
00
62 Ti
43 M
74
03 V.
20 Mt
48
21
80
60
32 4-1
23
23
84
32
20
70
44 1
31
4
6
43
87
118
01
13
IV.
H
1
06
Close.
06
Net
rhge.
121 121
H
82 83 V.
4
4-1
do pref
Del & Hudson.
Krlo
do 1st pref . .
do 2d prof
01
140
2
40
33
INDUSTUIALH
Hid
4
72
8
2
Aetna Explosives
Air Reduction
Am-Drit Mfg
Am Marconi
Am Sumatra Toll ....
American Writ Paper . . 4 ,
Can Car Co 30
Can Car & Kdy prcf 70
Canven Steel ....,.... 13
Chevrolet Motors ". 123
Curtlss Aeroplane 10
Kmcrson Phonograph ... 10
Federal Dyestuff to
Haskell & Barker Car. .11
Hcndco Mfg 24
Kathodlon Bronzo prcf. . 3
Lake Torpedo Boat .... 8
Lima Locomotive new . . r7
MarlM Arms 88
Maxim V nltlons 3
Now Yor?. Shipbuilding.. 41
North Am Paper 5
Otis Elevator 00
Peerless Motors 13
Poolo K ft M 75
Redden M T 20
S S Krcsge w 1 12
Santa Cecilia 20
Santa Cecilia pref 35
St Joseph Lead 17
Steel Alloys 8
Submarine 22
Trlanclo Film 1
Todd Shipyards 82
l' nited Sugar 36 .
V S Steamshlr n
United Motors 37
rnlted Prollt Sharftig ..
W.orld Film
"Wright Martin Aircraft 7
Zinc Concentrating ..'.. 2
RAILROADS
Rock Island com 37
do A prcf 8 1
do B pref y. ... 7 1
Western Pac w 1 10
do pref . .. .' 17
Wabash Pittsburgh .... 21
Yos. close.
Asked, (sain)
4
73
12
:i
23
3.1
75
13
128
24
11
ii
27
I
0
no
92
4
14
5
03
00
13
20 no
18
8
22
1
85
30
11
37
7
3
30
85
72
111
.10
23
4-
72
13
0
80
Op
41
3
23
Hi
30
0
37
3
STANDARD OIL STOCKS
Illinois 23.1 210 ..
Ohio 385 390 388.
rralrio Plp 317 322
Plerco Oil 13 13 ..
Stand Oil of California. 29.1 300
Stand Oil of Now Jersey. 700 710
Stand Oil of Now York. 313 317 31H
INDEPENDENT
Am Ventura
Harnett Oil & Gas'...
Cosilen O & G
Cosden & Co
Hlk Basin
OIL STOCKS
22
3
II
14
12
20
3
n
15
12
20
3
14
13
12
nid.
Federal OJ1 ft
Inter Petroleum 11
Houston Oil 1f
Merrltt OH 25
Midwest Ref 13.1
Oklahoma Prod k R .... 10
Osago Hominy U
Rico OH 1 .
Sequoyah 1 A
Sapulpa Ref 11
West End O & O 18
.MINING STOCKS
Alaska Standard 38
Atlanta 13
BUT Ledge 3
Butto Copper & Zinc ... 10
autta NY 1
Cashboy '. . . . 0
Consolidated Arizona ... If.
Dundee, Ariz 1
h'inma Consol 1
First National 2
Gila Canon 50
Globo Dominion
Goldflcld Cons 00
JoldflpJd Merger 7
Hecla Mining 7
Howe Sound 0
lndcpelndenco Lead .... 13
Jerome Vcrdo 2
Jim 'Butlro 70
Jumbo Kxtcnslon 42
Kerr Lake 4
ICewanas 18
McKliiley-Darrngh 40
Magma Copper 53
Mothcrlodo , . 35
Nevada Wonder 20
Nlplsslug 7
Ray Hercules 4
San Toy 14
Seneca Cop 11
Stewart
United Verdo 39
Tonopah Extension .... 3
West Knd Con 08
White Caps 1
Ycrlngton 40
HOND3
Am Smelting 5s 96
Beth Stl 6 p c 2-yr notes 98
Chill Copper 'Ci 100
Cosden Oil Cs 101
Cosdeu & Co new 6s.... 10714
Frio Note Cs 08
Mldvalo Steel Es 03
Penna It R new 4s. . . . 07
Russian 6s 00
Russian 5 lis 87
So Rwy B p c notes. .... 98
Todd Shipyard Cs loo
Western Pacific now Es. . 88
YV r!oe,
Aslcd. tsale)
(I 0
14 14
' 20 20
2fl 20
141 141
11 10
0 9
1 1
11 1
24
40 38
14 13
4 4
11 11
1
10 11
1 1
1 1
2 ..
55
Vi . .
0.1 A3
0 8
7- 7
0 ..
II
3ft 2ft
. 75 73
44 43
4 1,4 . .
20 19
83
84 54
37 30
23
8 ..
4
10 ..
12
..
39 39
3 3
70
US 1
40 48
07 97
U 08
101
102 ..
108 ..
98 K, 118
90
08 08
07 117 .
89 88
f8 98
102
89
Gen Flcctrlcal Co. 160
uencral Motors ..119
do pref 89
Goodrich B F .... 54
Grauby Mining .. 80
Ot North pref ..111
Gt North Ore subs 33
Greeno Can Cop.. 12
Gulf State Steel. 124
do 1st prcf .... 106
Inspiration Cop .. 01
Intfr Cons Corp.. 12
do pref 65
lilt Harv Corp pf . Ill
Int Mer Marino . 33
do pref 88
Intern! Paper .... 41
Int Nickel 44
Kan City South. .. 22
Kelly Springfield.. 61
Kennecott Cop ... 46
Kgs CoKl L & Co,118
Lack Steel 86
Lehigh Valley .. .. 66
Leo Rub & Tiro. . 22
louisv & rvash.
Max Motors
do 2d pref
Mex Petrol
Miami Con Cop . .
Minn ft St L new.
Mldvalo Steel ....
Mo Pac w !....
do pr w I
Mont Power
Nat Enam & Stpg.
National Lead . . .
Nevada Con Cop..
New O, Tex ft Mex 17
N V Air Brake... 148
New York Cent.. 06
N Y Dock 14
N Y N II ft II... 44
N Y Ont ft West 23
Norf South 26
Norf ft West ...133
NoKlh American.. 68
Northern Pacific. 105 105
Ohio Fuel 31 30
Ohio Gas 111 138
do rights 5
Owens Bot 09
Pacific Mali 23
Penna RR 53
Pitts Coal ctfs... 40
Plttsbgh Steel pf.,100
Pressed Steel Car 77
Ry' Steel Spring.. 51
Ray Con Cop .... 31
Reading 00
Rep I & S 83
do prcf 102
69 1
lit
47 1
01 4-
138 2
28
40
33
166 1
115 116 2
111
46
91
138
28
40
33
166
89 89
51 54
86 86
114 114
33 33
.131
51
. 33
. 91
. 42
. 21
61
. 30
. 58
12
120
106
60
12
65
111
30
83
30
43
r
60
45
118
85
00
22
131
82
33
9
42
21
60
20
88
42
122
100
01
12
08
111
33
87
4-
43
"
2
4-3
40 1
00 1
45 04
118 2
Jl
06
131
32
Tetnl sles. 11.183 hnre. compared with
14..1HI shnrei etenlnyi thin for this week;
36,4.15 sharrM snme period lait eek. 30,210
n.irrs.
BONDS
. High. Low.
xioo Am uas &
Kite Cs.. 90
2000 Beth Steel
Cs 121
3500 Uleo ft Peo
Tr 4s .. 83
1000 Lk Sup Inc
Cs 51
12000 Lehigh Val
cons 4!4s
2003 .... 09
1000 do Coal Cs.103
300 Nat Prop
4-6s . ... 08
61000 retina 4s
ret W I.. 08
10000 Phlla Co
Vons Cs. 01
111700 Phlla Flee
new Cs. .102 101
4000 Reading gn '
4s 94
1300 Stand Gas
& Kleo Cs.102
12000 Un Rwynv
Ss 69
3000 Welsbach
Co Cs. . , 08
61
90
103
M
99
103
6.1
07 98
91
94
91
102
94
BUSINESS IN STOCKS SLOWS DOWN;
MAJORITY OF TRADING IN MORNJ
Price Chances Are Few and Narrow Steel Common M
Active Philadelphia Electric New 5s Admitted fit
Unlisted Department March Financing Larger'J
Operations on tho Philadelphia Stock
Kxchango throughout tho session today
did not differ to nny great extent from
tho previous two days of tho week. As a
matter of fact the amount of trading done
was Btnaller than yesterday. Tho largest
amount of business took placo ln tho llrst
two hours, nnd during that time tho bulk
of tho trading was In United States Steel
common. After midday, however, there
was n slackening down In the trading nnd
even In Steel common, which wns tho most
actlvo all through tho day, tho turnover
became smaller as tho price declined below
tho closo of yesterday. The notion of this
Btock Indicated that, for some reason or
other, It was under pressuro, and whllo
stock was picked up tho traders Interested
In It did not show a disposition to tako It
unless at a concession.
With so little Interest In the market, tho
traders In tho Street and on tho floor of
the Stock Kxchango being concerned more
with tho developments at Washington, much
could not bo expected In tho way of prlco
movements, and In this no one was disap
pointed. Tho changes wero Irregular. An
encouraging thing wad tho lirmncss dis
played In some Issues, while others gained
a trifle. Tho tractions, ns was the caso
vestorday, did not make up a great amount
of tho trading. In fact, this class of stocks
was absent from tho tape until lato ln
the morning. Then Philadelphia Rapid
Transit trust certificates came out with a
loss of a half point. On the llrst salo ten
shares changed hands and then came flvo
shares, ail at 28. The additional trading
ln this Issue was very light Indeed. Two
shares of United Traction sol,d at 4S, a
gain of tho half point.
When It was announced that tho stock
list committeo una admitted Phlliin
Electric ursi morigngo 5 per cent
fund gold bonds, duo October ! 1
mo uniisicu ueiiumneiu, interest tnniil'
iheso bonds, thov taklnc- tlm i. "T'l
temporary bonds nnd before noon ,.:''
mnnnn liml licrn linntrl,, ., .."""Stl
wero by far tho most active In th
-It.. I!,.. 1m ol,n.,A,1 m M .1 . lU& I
ukio.um, .,.. o.,u,.:u u ailiuu 108. If ,
n.imn tlmft thft rnmnnnv'n A .. . 1 1
mortgage- sinking fund gold bonds ,
uctoDer 1, j-jou, wcro numlttcd to traafto
the unlisted department, as wm, ,. i?l
sylvanla Railroad receipts for tho new H
ot general mortgage 4 per cent '4
bonds, deliverable when and ns. l.-A '
turnover In them was fairly large, wiji.
eiln nn thn r?lltl-i vnela-rlnii ,. "
ndvance. Preferred nnd common it.
Harrison Brothers ,
chased by du Pont'f
tho list.
A tabulation of tho corporate 'flnU.
111 -.111 in, ..iiii.ii .hiiiu m iiunu louay 1
the trend of tho times. Durlnir th.
thero was a total of $206, 600,000 flnain
which represented a gain of 115 jj.jj
over February, nnd It was far above 1.
........ ...linn Ih. Inlnl ....... nnf aa-V.."!!
compared with March of last Vn, ',1
was a gain of $80,100,000. Or the touJi
,...,.1. fnnnnlnf- i . I n ..nn !!!, no- . . !' I
.il.iii.il iiiu.iiuiii, una jioi f UO,UUU,D0,
contributed by tho raltronds and 17fit
by public utilities, which leaves only in
800,000 for tho industrial corporations''!
tho railroad group tho $60,000,000 -..'J1
mortgago 4U per cent bonds of the p.
sylvanla Railroad and $4G,000,000 ons-wi
C per cent notes of tho New Haven fm
-1-1 1 re .nn nf e !.- .,.- . . '
maiii'ii uu j, ti .ii, ui iiiui, U1V1810H
nnancing.
cu ana common jto
& Co., Inc., recentirl
nt's, were stricken
102 102 H
69 69
98
98
Totnl sales. $223,300. compared l(h S133.100
3 ctertko 1 thus fur thl urck, ,t33,(i0fl name
period lust neck, S170.3O0.
Local Bid and Asked
Today
nid Atiked
4-
4-
2
33
00
42
SI'h
00
30 4-
38 4-
102 101 101 1
33 34 34
87
23
87
23
17
148
03
14
44
23
0
130 133
68 68
105
81
138
8
90
23
87 1
33
17
1
4- ',
V
1
6 .1
4-1
148
06
14
44
23
5
00
23
63
44
100
77
81
30
98
82
103
02
10
30
4-
4-
4-1
1
4-
83 (-
48 lb
100
77
31
30
06
82
4-.
-1
102
189
126
20
NEW YORK BOND SALES
13000 Am Agr deb Cs..
sihuuii Ancio-rrcncn
U U2i
lll'Ti
112
3
MI'i
110
1011
UU'i
!!
78
niij; i(ii
:i?- itS
83 R2U
till Ml
01 81
02 02
BO BO
71 71
81K 8t
mm ouvi
07J 07i
85 83H
High. Low.
.10311 103
Bs 1)1 U3H
51000 Am For Sc 5s 0'UI 95J.
701X1(1 Am Tel OS lUUftt lull
SHOO Am Writing Paper 8s. Ill 91,
20011 Ann Arbor 4s I3J4 03r
I'oiHi -Armour Co 414 8 U3 US'
41UUH Alcnison gen -is , ujt ui
loon Atchison cv 4s. 1UUI). .IIM',11 103
luuu Atl (.0 l.ino isc-is,, .. v.
7IKIII ltu.lt &. Ohio ,1Ata ... Hi:
2800(1 Halt & Ohio Bs 1(1(11
oiidii j la it u unio -is., n-
11000 Halt Ohio cv 4v4s.., Ill
30(10 11 O 1 I, B & VV 4s milt
2000 Ileth Btoel rfd B MitJ
150U llklyn Kurl'l Trun Be., 100
1000 llklyn Jl Tr Bs, 1018. IIU'I
10(1011 Can Govt Bs. 1931 119
1(10(1 U G C cen 4S 78
liiooo cvnt i.eatner 1st r.s.,
2000 Cent Paa 1st 4s
BOOH Chile Cupper "0......
0000 Ches & Ohio cv 4Hs,
100U. do-4tts w,
40(100 do cony Bs .......
2000 Chi ft Alton 3s . ....
1U00 do 3U
1000 Chi Qt West 4s ...,
,1000 Chi ft Nwn 3
000 Chi Un Hta, 4Ha ....
41000 Chi 11 ft Q lojlnt 4s.,
2000 do III 314 s
BU0U Chi Mil ft tit P dlv 4s S9fe
70000 do rfd 4Hs mi
4UUII, uu iwiiv urn ...... JU07
1000 do CD BS - 1011
38000 do cv 4Hs '.. U7H
14000 Chi 11 I ft 1' .rfd 4s... 72
11000 Col ft South 4Hs...... 88
84000 City ot Paris Us . ..'. 0(1
1000 Comp Tab nee Co 0s, 80
10000 Con Gas conv 6d .1,11511
2000 Del ft Hud conv Bs . .102
1(1000 Dls Brcur Corp Bs .. 03.
. 3000 Erie conv 4s 8er A.., 02
100(1 Erie conv 4s Ser D .. 7314
0000 do prior 4a ....,,,, 8114
111000 Clen Kleo deb Bs .....10(1
4000 Hud ft Man rfd Bs.,.. BOli
.2000 Indiana Uteei fis 102H
10000 III Cent rfd 4s,,..,, KU'I
iau.iv jiiboru wet ivi . on
32000 Interb II T ref B 97
47000 Inter Mer Mar 6 OS
5000 Inter Agr Bs 74
2000 Japanese 414s ........ 84
BOOO do new O 8 4Ws..,, 71
1(100 do-new 414s ...., 80
vuvu iun miy ier isi es., M
UMMKLecka Bleel Da 1023... 101
lM(i..4u,5J-mo .. ...,,.100
Close.
10311
lit
lui'l
inuv
(1314
u.'iii
u3..
8.8
!!
ut4
100
H?i
vu
78
101 H
i5ib
8291
8'J
91
02
B0
71
si;
UOH
MIS
85'4
81)
04
10314
till.
01'
lU3' 1U3) l(W,k
101 101U loiii
VI VJ
72Vi
83
03&
80
118
1021
03
(IJ
73
81
103
60 06
10211 102
8011 80
MO (10
l)T
03
74
84 84
7814 7014
80. 80
87& 87
101 . 101
:"' W
72,
so
113
102K
03
fl'J
?8 sa
3 10a
0 . 0611
211 102U
011 Dog
I) (10
if st
1000 N Y Air Urk ct Cs
45000 N V C ft II Us....
5000 do 4s
251000 lo 4s
210011 N V City 4s ltl.17...
31000 do 4h 1958
3S000 do 4s 1V5U
1000 r y n 11 ft 11 os
.2000 N Y ltwy ref 4s U7H
jvuuu uj aaj ss ........
BOOO N 1' Tel gen 4s....
82000 Norf ft West 4s
17500 North Pao prior 4s .
3000 do cen 3s
10011 Ontario Power Ss ...
HOOD Ora H Line ref 4s ..
1000 Ore ft IV It ft N 4s.
2000 I'uclflo Tel C
8000 Paclllc Uas B
02000 Penna gen ct 4 a .
1000 1-ub Kerv N J Bs....
13000 Heading gen 4s ....
8X000 Hepub Cuba Ss 1014.
18000 Hep I ft H E
1000 HI I, IM 4 B CUt 4s.
BOOO Bt L ft H F ajt 0s ,.
21)000 do In Bs ...'
0000 do 4s Her A
4000 do Bs Her B
2000 St L Bwn con 4s ...
4000 do fis
1000 Seaboard A I, adl Bs. TO
4000 do 81a ( 79
1B000 South Hell Bs 100
1000 South Pao cv 4 8314
2000 do rfd 4s OllI
23000 do cv B 1011!
11000 South ltwy gen 4s ... 70
2000 do con Ss 100
1000 BD.rt. 4s RHU
4000 Texas Co cv 6s 10.1
High. Low. Close.
.101 104 104
,.UW 108 lox
. uiu 01 uiu
. 117 DO VU
,.100 100 100
,,1U(IU lOUft iuu
,.100 1U0'
,1(114 1U1
100
101
I17S
38
98
91
03
11
U7
av 38
98 U8
05 114
U3 v:i
(1UM (UIU (It
91 91 01
U2 92 92
83 83 83
100 9U 10U
91 01 91
08 07 98
01 91 91
04 03 113
H5 05 tin
100 100 100
7li Tali Til'.
ItD'i
70
53
67
84
70
70
09
5?
84
70
70
70
70
100
83
81
101
70H
OU-4
63
(17
84
70
70
70
70
null
100
7614
,iu
Bs
SOOO Third Avn ref Am
22000 II R Rubber (Is .
81000 V S Hteel s f Es
6000 Union Pac' 1st 4s
n.ioo do cv 4s
1800OUn.Rwys 8 F 4s
ubooo u k of a n ft i
atiuoii ao nvss iuih .
BOnnno da Bs 1910 new
81000 do B1619 ,,
21000 do fis 1021 .
B00O Va-Car Chem 6s
BOOO Va Hwya Bs . . .
anrui Vll , n
J2000 JVab-P T 1st ct f p 4s 38
inno -Wheeling ft L K 4 s .. 78
103
7
98
30
07
. .'T7S
. ,1()U
. . va
.. BR
..1001I
. . nan
in?H
8000 Wig Cent en '
Total
87
80
104
76
102
105
07
IP
Il
po.;
H.-.
100
118
103
88
70
78
87
1001;
83
on!
101
70
100
89
104
ioSJ
SB
97
tf
so
00
96
95
100
103
S5H
70
78
87
.. 4:811J00. eempared wllh M.4sa
!SSSni.lSLAm'V'il.S MII
4-
1
1
64, 3
05
100
26
03
16
-3
Royal Dutch .... 63
St h & S F 20 10 20
St I, H. Swn 31 30 30
Sinclair OH 88 87 57
nrs jiocduck ..180 189
do picf 126 126
Shattuck Ariz . . . 20 28
Sloss-Shef Stl & In 08 01
Southern Pac .... 08 05
So Porto Rico Sgr 100 190
Southern H It ... 28 28
Studebaker 07 02
Tenn Cop & Chem. 16 10
Texas Co ........223 222 222 2
Third Vvo R R... 40 30 39
TODacco Pdets ..80 55 53
Trnnsuo & Wins.. 41 44 44
Un Hag & Paper. 12 12 12
Union Paclllc 130 138 138
lo pf 81 8iyjS 81 4-
United Alloy Steel. 45 45 45
United Clg Stores.101 101 101 4-
United Drug 75 75 78 4-
United Fruit 141 141 141
U S Ind Alcohol.. 123 121 123 2
y, s ?uber 59 ""k
kj o o oi ilex 02 02
U S S & Ref pref. 81 81
U S Steel 11004 1141,4
V
do pref 118V! 118
Utah Copper ....111 110
Va Car Chem .... 40 40
Va Ir C & C 70 60
Wabash prcf A.. , 50 40
do pref D 25 24
West Md 22 22
West Union Tel... 07 07
Westlnghouso Mfg 82 82
Woolworth lo 139
Worth Pump & M. 21 24
Wheel & L K 16 16
White Motors .... 4D 49
Willys Overland.. 83
do pfd 08 07
'Wilson Co 70 78
Total sale.
042.800 shares
62
61
1 1
118
m
40 1
0
40
24
K
07
82
130
21
10
40
32
08
76 2
1
1
9i
761,300 shores, compared with
v tamlv Ikll. raw hl- . I.
2.390.300 tharesi'same period last week, 1,094..'
400 shares.
Ex dividend Saxon Motor. 1
Corn Products pref, 0 per cent.
per cent!
Extra for Vacuum Oil
ROCHESTER, N. Y.. April 4. The Vac
uum Oil Company has declared a regular
semmlannual dividend of 3 per cent and an
extra of 2 per cent, both dividends payable
May 15 to stock of record May I.
THE'
HAVHANDARMSTRONG
COMPANY
UnMnln Loco
llrlll J O
Hull ft HllSq t C ...
do pfd t c
niectrlc Stomp . ,
Uener.il Asphalt . . .
do pfd
KeyjitonH Tel
Lakn Hup Corp . . . .
Lehluli Nnv
IrPhlgh Val
Lehigh Val Tr
do pfd
Penna It II
Phlla Klcctrlc
Phlla Co
do 5 per cent pfd,
do 0 per cent pfd.
P It T t C
Hraillni;
Tonopah Helmont . .
Tonopah Mining . .
Union Traction . . .
II U I
11 S Steel
York liny
do pfd
Wm Cramp t c . . .
60
25
111
.III
113
21
CI
12
Ml
till.
2d
13
r.3
32
37
3.1
31)
L'S
9(1
01
2!)
11.1
5.1
(11
2(1
Oil
13
21'5
Ml
r.11
211
4li
51
.12
38
37
1(1
211
90
IN
11
43
Yesterday
Hid Asked
(11
.-. (1
. .. 43
.. . 81 "j f7"4,
.. .11.-1 11.1
. . . 15 15
. . . 37 .IS
. .. 90 91
110
(II
53
ll.'t
21
III
12
21
80
11.1
211
i.2
37
3.1
3!)
29
OS's
1
11
43
87
116
1.1
37
o!)
211
113
5.1
(14
211
(HI
Rl
lill
26
4(1
53
32
38
37
10
29
116
1
0's
43
88
1111
15
38
9t
COTTON PRICES RISE
AS DEMAND EXPANDS
Bullish Advices From Goods
Trade and Outlook for Rains
Help Advance
MONEY-LENDING RATES
NKW YORK Call money opened nt 2.
per cent; high, 2; low, 2U ; last, 2 i;
closed at 2(if2',i 1 ruling rate, 2 ',4 per
cent.
The market for time money technically
Is a shade firmer ln tone, but not to any
appreciable extent changed from the recent
conditions. Industrial loans are slightly
higher at 4 ', G1 4 per cent for four months,
and for sixty days there aro loans on this
kind of collateral at 4 per cent. Money on
good mixed Is about per cent under the
Industrial rates.
Leading bankers say that thero Is no
prospect of any disturbance of the money
market, but thero Is a feeling that, ln view
of tho International financial situation, con
servatism should be maintained.
Prime mercantile paper, In sympathy
VtMh tho collateral loan market. Is firmer,
nud less paper. Is changing hands at 4 per
cont. On exceptional names naner could
bo discounted at that' figure, but the average,!
minimum is i',4 per cent. j rom that level
rates run up to 4 per cent.
Prima bank acceptances are quiet at un.
changed rates. '
PHILADELPHIA Call, 3I,J per cent
.imo, 4',i5 per cent. Commercial paper)
L.reo to six months, 44i per cent
Steel Alloys
Bamett Oil & Gas Co.
Bought Sold Quoted
E. H. CLARKE
Morton R. Alexander
(Resident Partner)
Phone 1140 Spruce
Stock Exchange llldg., Phlla r
New York
Scranton, Pa.
27 William St.
Newark, N, J,
IF STOCKS
WERE COMMONLY
OFFERED FOR SALE
WITH NO BUYERS, OR
BIDS WERE MADE
WITH NO SELLERS,
THE INVESTOR WOULD BE
IN A FIX
MOST OF THE TIME,
WOULDN'T HE?
How Stocks are Listed
on the New York Curb
IS DESCRIBED IN AN
INTERESTING BOOKLET
JUST PUBLISHED
TELLING HOW AND WHY A
MARKET PLACE FOR
TRADING IN STOCKS
IS MADE. AND IT
ALSO EXPLAINS
THE PRECAUTIONS
THAT ARE TAKEN '
BY THE CURB MARKET
ASSOCIATION ,
TO SAFEGUARD THE '
INTERESTS OF INVESTORS
MOVER THE. COUNTRY
YOU SHOULD HAVEItJ
ANDREADIT. T
. Ask for T.V.-840
JONES & BAKER
STOCK DKOKEBS
WiJe,Bife"Phaadelphia
Bell, Walnut 1690-1
Keystone, Race 22S0
New Tork .,,..
Chicago puVji? 4.
Direct Prtvat. ir.re i ""
JONES ft BXRBR,
VfUntr Blto., Philadilphla. pat
You mar (end, m'e your booklet '..
in a Market for stocks," t. V,.81of k"
NIIW YORK, April 4. Trading In Oc
tober cotton wns considered significant nt
the opening of tho mnrket today. Liverpool
and uptown Interests being good buyers of
that position, with spot houses and room
traders selling. In other months business
was comparatively light.
Tho early advance carried the cotton
market about 14 to 23 points net higher,
with July 'contracts selling at 19.50, or
Just lc a pound above tho low level of
last Friday. Reports of an actlvo spot de
mand at advancing prices, bullish advices
from tho goods trade and tho outlook for
rains cast ot tho Mississippi River wero
factors In the advance, which, however, was
chiclly a reflection of tho features respon
sible for yesterday's buying movement.
Further reports of rains in Texas pro
moted realizing at the higher level, and
thero was also selling fof a reaction on a
setback of some 10 to 12 points during tho
middle of the morning.
ortrcrop shorts displayed less nervous
ness later ln the afternoon. Prices worked
off a dozen points from the high level
of tho forenoon nnd new crop positions
wero under pressure of long liquidation.
Tho closing prices showed gains ranging
from 3 to 41 points above vrtnrfinva
close.
May ...."
July ....
October .
December
January ,
Spot . . . ,
Ycst. close. Open. lIlRh. Low. Close.
. .. 19.54 19.50 20.00 19.57 19.98
, . ji'..n ju.u in.ria hi. 'j:
... 18.40 1S.3I1 18.57 1K.3:
... 18.43 1S.44 18..M) 18.4:
... 18.53 18.00 18.60 18.4:
19.50
18.411
18.40
18.4(1
20.13
DIVIDENDS DECLARED
M.e.rc?."t0. ,UnUn Trust Company, regular
quarterly of 1 per cent, payabla April 23 to
stock of record tho samo date.
NEW YORK COFFEE MARKET
NKW YORK, April 4. Tho market ft
coffeo futures today opened inactive m
first prices unchanged to nn ndvance efj
poims.
Today'R YesttrtVl
J.HOHi
i, nay
i'23. l
'.1SD7S
7.74&1?
,7-?S!?I
I.OIU R.
7.8801a
'.VJ(f?S
7.948 :
-n-!t-H
o-l-WlU
April 7.O707.C9
May '7.5.1 7.74c7.7ll
June 7.(lil 7.80 h 7.81
July 7.(1.1 . 7.8.1W7.87
Auirust 7.70 7.0207.93
(September... 7.8.1
Ortobcr 7.8t 8.03ff8.0l
November... 7.nnifU7.05 H.(I7(H!S.0S
December... 7,!)3W'7.9il K.11i8.12
January..... 8.008.05 8.1.SOT8.H)
February. . . . s.25(nR.20
-March 8.13 8.3208.33
llld.
Foreign Exchange
NEW YORK. April 4. In a dull mart,
French exchango was a strong featu'ri'i
uio cany uuaiuiKs louay. uaoies were ousts
n, E .(111 n.,,1 nl.nnl.n n. f nn., 'HW
ui u.i -,2 uuu ;iii;uiv ill U.OU1,., COnlB
witn D.8J on saturuay at tho close.
Quotations wcro:
Demand sterling 1.70 ,"j, cables 4,Jlil
sixty-day bills nominally 4.72, nlncty-tyl
Franc cables CTD1,., checks 5.8014,
Lire cables 7.C5U. checks 7.GG. '
Swiss cables G.03',i, checks 5.044.
Guilder cables 40!8t checks 40,.
Rublo cables 28.38, checks 28.30.
Pesetas cables 21.95. checks 21.65. v
Stockholm cables 30.25, checks 30. '
Christlanla cables 29.75, checks 29,50
Copenhagen cables 28.95, checks 28.75
BANK CLEARINGS
Hank clearings today compared with com.1
sponding days lust two years: "rj
1917. 1916. lots. I
Philadelphia. J62,03, 016 $11,(125.911 125 4Mrl
lloston .... 5(1.159. 289 4:1.601.682 28.355l
New York.
St. Louis
Chicago . .
llalttmoro
,3.1S.3,1l,5R0 448.258.n3S 320491111
II 71m mi ........... "r'.lfl'lll
hi. 11. .HI. ID.il.B
31.7(10.191
.134.858,514
. . 9.482.977
911,03(1,7.1.1
7.00(1,081
5.41J,
IIIKKCTOBV OP ACCOUNTS
Certified Public Accountants
LAWllUN'CB 13. I1ROWN ft CO.
1615 RKAL L'STATR TRUST UUILDINOll
INVKSTIUATU AND ADJUST PARTNSrl
SHIP. JOINT AND DI8PUTDD ACCOUMSl
Proven Investments
The Hooven Automatic Typewriter
Corporation's "Treasury" Shares
At $9.00 Per Share
Is an Investment Seldom Publicly Offered
The demand for this "MACHINE" by the leading Bankers, Mer
chants and Corporations proves the possibilities before this machine,
The demand greatly exceeds the supply.
The phenomenal dividend records of the Underwood Typewriter
Co., The Burroughs Adding Machine Co.. The National Cash Register
TYPEWRITER0 po",bI future of THE HOOVEN AUTOMATIC
Developed by a successful corporation with a record of seventy'
years standing.
We advise our clients to buy HOOVEN shares now for market val
uation and dividend possibilities.
Call for demonstration of the machine or further information.
BERGMANN & CARAHER
Lafayette Building, fifth and Chestnut Stl.. Philarl.1,.1,:.
Telephone Lombard 2844
New York lloston Chicago Pittsburgh Cincinnati
Cleveland
United Light & Railways Company .
6 Convertible Debentures, 1926
Yielding 6.12 '
A direct obligation of the Company which owns
or controls important Public Utility companies
operating in 53 communities of the Middle West i
serving a population of about 537,000. .t
Earnings for the vear nnrWi tw,i ., ., !
Seer Rl?6" charg.es on these Debentures
were over 13 'a times requirements.
Convertible after November.l, 1918, into preferred
Willi
Send' for Circular No. ssii.r. ' '
iam P..Bonbrighf& Co., Inc.
u.i vv.siar stroud, Jr., Manaee
n s. . 4d? Chestnt St., Philadelphia
xiiuarn X-. iionorlsht 4 Co. '
jcr
Detroit
Pari
Bonbrlght & Co.-
Brown Brothers & Co.
PHILADELPHIA
LSll!&!i
iar-nW. aet'.i
!ie, v
!J
rM07
STOCKS
tniiiMi.
1411 WALNUT ST.
.PHIIAIUJ'tsIA
Kami ,,,,,,,,
irrmijr sr
'iisi
Wt);f. Maria-fa Genera
,
I
KJtil'f
.irfM'.,f,,i,i,V,S,' - v
'ft
l
Vsf. ' Zibi.&'Xl-
t U ! --IU.-H . . MmXAXtmX .. I I" "I J
HOU
I,