.J- $r V ' V? V ii A x. :v: ',. v -' .4 u Ik?. s s-' - few m: & & & 'f V H'- I' " . 4 J t r L'ff VfT- ifv ft? Rt i Xs ' t M i f T it n Zk- ' n w. ri'-wi-w. . ?v j V"i EVENING LEDGER-HILADELPfilA, THURSDAY, vAERIL 5, 1917 Questions . of Investors who are uncertain as to the intrinsic merits of the securt ties they are interested in, will receive prompt attention if sent to ouY Statistical De partment. .W.glarK$o. BANKERS (Established 18ST) 321 Chestnut St., Philadelphia Plttsburch lloiion Chicago Wllkes.Ds.rrs Heading The Market for Public Utility Bonds & Notes is generally free from spec ulativc influences. For this reason and be cause the income re turns are, as a rule, bet ter than from other well - secured invest ments, standard Public Utilities provide a form of investment eminently suitable for the conserv ative man or woman. Send for Circular No. 2514-A, which contains short descriptions of twelve tested Public Utility Bonds and Notes. WilliamPJBonbright& Co.,Inc. U0UBI9 WISTAH STUOUD, Jr. , Manuier 437 Chestnut St., Philadelphia Boston New York ixinaon William P. Donbrleht & Co, .Detroit Pnrli nonbrlsht & Co. STEEL We have had prepared a booklet giving all the latest available data upon almost all of the important steel companies of the United States, which we will be glad to mail upon request. Armitt Brown & Co. 1424 Walnut St. Members New York Stock Exchange Philadelphia Stock Exchange New York Cotton Exchange Chicago Board of Trade STOCKS BONDS Bought and sold for cash, or car ried on favorable terms. Private wires to all market L1NDES & COMPANY Franklin Bank Bide. 1416-1418 Chestnut St. Bell Phone Spruce 8337 3328 Lobe Distance L. D. 41 Keystone Baco 091 m odvot y (J If the Stock Market Is " strange ground to you , T If you have never had an account with a broker (J It you are not fanWIar ' with the uao of collateral security fj If you do not know the fundamentals of trading In stocks then you should, read this in structive booklet we have just published. It will prove of inter- ' est to the experienced investor as well as to the man who has little knowledge of market trading. Send for it Ask for 8iS-E. F. JONES & BAKER V , STOCK BBOKEBS T WMcmt BMg Philadelphia W " BI1.. "Walnut 1000-1. ,k Ksystons. Race si'DO., r Haw' York Boiton I'lttsbnrfb W s IBtrtct iTivaf Wirt , JOHBMSt BAKU. .urn., rnuaatifMa, Pa. Mms.-mty end mo your booklet f'llow 'T 7? P,a " Aecouo1" 8-R K. -. K "V- FINANCIAL NEWS FEELING OF CAUTION IS PRESENT IN DEALINGS 0 LOCAL EXCHANGE Traders Not Disposed to Make New Commitments to Carry Over Holiday Changes in Prices Mostly to Lower Levels A general feeling of caution ; wan In evi dence In tho dealings on the Philadelphia Stock Exchange today. With a holiday Intervening tomorrow and with nctlon yet to be taken by tho House on the war resolution which passed tho Senate last Mght, trade were disponed even more tlmn on previous days of the week to hold ofT from making any new commitments to carry over until Saturday. While the changes In prices In tho small number of stocks which appeared on the tapo during tho morning wcVe mostly on tho down-turn, yet there was no sign of any real weakness. Itather It was the result of a lack of demand, Quito a num ber of shares wero unchanged In price. It was only In a few of tho stocks of companies which are more directly nffected by present conditions that any chango of k moment took place. This was true of United Stntcs Steel com mon, which continued the most active Issue on tho list, nnd which lost more than 1V4 points In the first two hcurs of trading. On tho downturn a block of 1000 shares changed hands. There hns been pressure against this stock In Wall Street for tho last two days, und tho movement hero was simply In sympathy with tho turn In Wall Street. In Cramp Shipbuilding thero was a de cllno of 14 points. In Heading a loss of a little moro than a point, 1 point decline In Tennsyhnnla Salt and 1 Vi In Hiildwln Loco motive. This about measured the move ments In tho morning session, except for a few fractional 'changes In other Issues. Of tho local stocks thn most actlo was Lako Superior, and It lost i point, Up to tho close of the market trading continued on a light scale, with the general trend lower. Stock, for tho most part, did not fall below tho level struck during the morning. M Philadelphia Rapid Transit trust certificates lost n half point. , Lehigh Valley sold at GB'S, a new low for tho year. COTTON SOARS FAST, DUE TO HEAVY RAINS Persistent Precipitation in East ern Belt Is Expected to Reduce Acreage of Crop NUW YORK, April B. Heavy and gen eral rnlns over tho entire eastern belt pro moted bullish sentiment in tho cotton mar ket again this morning and a strong buying movement advanced first prices 11 to 17 points. Tho persistent rains over tho eastern belt this spring will, It Is feared, greatly curtail the acreage and even with perfect weather from now on the area originally fig ured on for cotton will doubtless bo consid erably reduced. After trie opening new buying developed and ran prices to still higher levels, new crops selling 25 to 32 points over yester day's closo at tho end of tho ilrst twenty minutes. Tho early advance of 20 to 40 points from last night's closing figures met heavy realizing for over the holidays, and somo icactlonary Bentlment was In evidence around the ring, Hut there was fresh buy ing of now crop months as well as continued covering of tho old crop. Tho demand continued heavy during the afternoon and at tho closo net gains of from 14 to 70 points were recorded. Yc. clone. Open. vlllKh. Ixiw. Close. May 10.08 20.00 20.27 10.DS 20.12 July W.r.O 1II.II2 20.01 111 01 1K.HI October 1K.40 18.113 1N.7II 18(11 1N.7B December ....18.40 18 no 18.8.1 18 r,' 18.711 January 18.4(1 18.8."i 18 87 18 82 18.87 Spot 20. IT, 20.85 Liverpool Cotton LlVKItPOOL. April E. Spot cotton was dull today at 13 points decline on the basis of 12.G9d for mid-upland. Tho sales were 4000 bales, Including 3200 bales American. Tho receipts wero 7000 bales. Including 6G0O bales American. The market for futures closed quiet, at a net advance of 6 8 points. NEW YORK COFFEE MARKET NEW YOIUC. April 5. The market for coffee futures opened steady at an advance of 1 to 4 prints. Transactions on tho call amounted 'to 6000 bags. Thero was a further disposition to buy tho late months by outside speculative Interests. Today's Today's Yent'd'ay's opening. close. Hose. April 7.SO&7.S2 7.fl7i7.(lft May 7.87M7.S8 7.74i7.7ll June 7.H3SF7 U4 7.80M7.81 July 7.8()7.U0 7 1HI5H.0(I 7.8:, 7 87 AUKUSt 8.IHIW8.07 7.()27.!I3 September .. 7.1M108.OO 8.13M8.14 7.08i)S.nn October 8.179(8.18 H.O.Hfl'K.04 Noember ..8.08 8.22 Ht 8 23 8 07W8.08 December .. 8.128.U 8.27W8.28 8.11(8.12 January ... 8.20W8.22 8.3HSJ8.37 8.18.8.1!t February . . ,. 8.42W8.43 8.2."ifi8 2(! March 8.338.38 8.4708.48 8.23f8.23 a 'Hid. I.KflAI, NOTICES TIIUSTEE'S 8AL.B OF A VAI.UABI.rj FAHM. SOAI'STONU 1'L.ANT. 80APSTONB QUAR RIES. ETC.. IN AMELIA COUNTY. VA.. AHOlST FOUIl MII.K3 FROM JETEKSVILLE ON THE SOUTHEUN RAILWAY. AT Pufc L1C AUCTION. Pursuant to a decryo entered In tho Hut. Incs Court. 1'art 2. of the City of Richmond, Va., on tho 10th day of March. 1917. In tho Chancery Cause therein depending under tho short name and stylo of Mrs. Anna K. Bchadi. wald. plaintiff, vs. Southern Soapstono Co?, poratlon et al.. defendants, wherein the under. lined was appointed trustee, with full power and authority to executs and perform the trusts set out and enumerated (n a certain conveyance drawn and executed December 1 1818 (which conveyance Is filed In the pipers In the above-styled cause). In accordance with the conditions and terms therein contained ind strictly In accordance with the reauinl mints and tho purport thereof, which said conveyance Is recorded In ho ClerkVofflc" 5 Amelia County. Va.. In p. n. 119. bw eo I. tho undersigned, appointed I trustee is aforol laid, will expose for alo-for cash on s urday. April 7. 1017. at 13 m before ths courthouse door. Hustlnn Court. Part 2 VitJ of Richmond. Va.. to the hhrhest bidder the lollowln described real and personal prop- "'rirst. All that certain- tract of land Ivin. In Leigh District. Amelia County. vS?. co" talnlnB three hundred and twenty-seven (S27) 1 .a ranrn nr Inns, and hminrfaH n. .u- -?"-..' acres, moro or less, and bounded on tho north by a twelve (12) aero tract of land belonilni iA 3. H. Webster, on the east bv th i;,h. ii Vernon Johnson, on tho west by the estate to J. S. Webster. rrnn .Tnhnson. nf Sidney Urown. and en tho south bv itZ lands of Ferdlnando Perklnson: and "Hecond. Also all the oulldlns. machinery, fixtures, tools and appliances of every kind on said tract of land." This property will bo sold. to satisfy, first, the costs of tho court In the above-entitled cause; second, trustee's commission of 5 per cent on tho first 1300 and 2 per cent on the balance of tho purchase price, and. third, a note for 13330. with Interest thereon from Dtcember 1. 1915, to date of payment. 3. M. TURNER. Trusts. KI.ECTIflN NOTICES 1735 WESTMORELAND COAI. COMPANY lis? Oftlce: 224 South Third st. Philadelphia, April fi, 1917, At the Annual Meeting- of the Stockholders of thn Westmoreland Coal Company, held April 4, 11)17, tha following Directors wero elected to sere threo ears: H. PEMIIERTON HUTCHINSON LOUIS It. l'AHE WILSON CATIIERWOOD At the meeting; of the Hoard of Directors, held this date, B. l'emberton Hutchinson was elected President: II. C. Adams, vlco president; Oeorgo McCall, Treasurer; Herman Roll, Secre tary nnd Assistant Treasurer, and Howard R. Ycarsley, Assistant Secretary. 1 HERMAN ROLL, Secretary. N. Y. BANKS GAIN CASH Increase of ?27,3G9lO0O in Short Week for Institutions NEW YORK, April 5. The known move ments of money up to tho close of business yesterday showed a Rain of J3C832.000 by tho banks from tho Subtrcasury. This In cludes $25,000,000 paid out on account of the purchase of the Danish West Indies Tho Subtreasury payments for Kold im ports nuKrcKatcd $17,854, 8!G. The banks trained $840,000 on Interior movements. Deducting a credit of $D, 473,000 by the New York Federal Heservo Hank nt the Clearing House leaves approximately , a net rtaln by the Clcarinc House Institutions on the short week of $27,359,000. AlthouKh Spanish excnanBO has shown strength this week, tho exports of gold to that country hnvo been considerably smaller than the week before, when they aggregated approximately $3,000,000. Transfers to San Kranclscf, representing gold exports to Japan this week, amounted to $1,773,000. Tho banks received gross from tho Interior $7,442,000, against $0,435,000 last week, and they shipped $G, 602, 000, against $0,392,940. ENGLISH BANK BATE CUT Reduction of Half of One Per Cent In dicates Easier Money LONDON. April 5. The bank of Eng land discount rate was reduced to 5 per cent from G'.i per cent today, which Is tho lowest since August, 1914. The reduction Is due to easing of the money market. Open market discounts had fallen to 4' per cent, a full 1 per cent below the bank rate, and call money was plentiful nt 3 to 4 per .cent. The bank rate-had been 5'4 per cent since January 18 last, when it was le duced from t! per cent. The G per cent rate went Into effect July 13, 191C, when It wns raised from 5 per cent on account of the flurry In tho New York money mar ket. The previous 5 per cent rate had been continuously In forco since August, 1914. In the present reduction to E per cent them may also be found a rellectlon of tho changed attitude of the United States In regard to tho war. Tho statement of conditions compares as follows: . . ,. ,Thla week. Last week. Circulation f.3S,nno,flnn 3s,2Si onn Private deposit 128.im8.unn Government securities . .111,244.000 other securities 123.3ii7,iinii Uesene 34,210,000 Proportion of renervo to liabilities (per cent) 10.12 pulllon B4.(l0,0nn Rank ruto (per cent) .. 5 4'i.li4 .'.onn 12!(.n 17.(1(10 24,0113,11110 l.T). (11(1. imiii 34,1(U,U(IU 111.12 51,009,0(10 MONEY-LENDING RATES NEW YORK Call money opened lend lngand renewing nt 2U per cent; high 2 t. per cent; last 2',; per cent; closo 2i2u per cent; ruling rato 2U per cent. The market for time money was slightly firmer again today to the extent that quotations on good mixed were raised i per cent in tho asking liguro for 90 days to 4 per cent. Otherwise tho market was unchanged at 3.Vj(!(34 per cent for GO days and 3 1 ?? 4 per cent for four, flvo and six months. Kor the 90-day maturity there Is variance of ,S per cent between the bid nnd asked figures. On industrial loans quotations run from 4 to 4 ',& per cent for sixty days to six months Prime bank acceptances show a moderate movement at unchanged figures of 31'. iij 3', 4 per cent for Ineligible and 3'b274 per cent cllglbles. ' PHILADELPHIA Call, 3S per cent. Time, 4H35 per cent. Commercial paper' three to six months, 4'4'4?i per cent. BANK CLEARINGS BJll ciearl,nlt? 'clay compared with corre spondlnc day last two years; 11)17. HUH. 1015. Philadelphia J5D, 030.021) J3I),420.(17) kiVjuo New York ..712,(100,800 460.220.33(1 SOS "unfi'iS noston n2,0.-,(J,270 30.4S0 470 ST'aSim? Chicago .... inn. 00(1.2211 (18,22(1.430 nn S71 oiV4 St. Louis... 2.-..577.320 lOlloiuVl ""lasTuU FOREIGN EXCHANGE NEW YORK, April 6. The forolo-,, change market failed to show any Increase In the volume of business, but further strength, in jrcncn exchange was a fea ture. Italian exchange wns firm and rubles held steady, while Scandinavian exchange shaded slightly. Quotations were: Demand sterling 4.75ft, cables- 4.75,', ; sixty-day bills nominally 4.72: ninety-day bills 4.70. Franc cables 5.71, checks 6.72. Lire cables 7.48,. checks 7.49, Swiss cables 5.03 '4. checks 5.04 U. Guilder cables 40$,, checks 40ft. Ruble cables 28,58, checks 28.50. Pesetas cables 21.80, checks 21.60, Stockholm cables' 30, checks 20.80. Chrlstlanla cables 29.80. checks 29. GO. Copenhagen cables 28.80, checks 28.70. $100 Certificates Pennsylvania Railroad Company General Mortgage 4Vz Bonds I Due 1965 We offer ' $100 interest - bearing certificates in coupon form, representing the ownership of an equal amount of the .above bonds that have been deposited with the Logan Trust Company as trustee. These certificates are interchangeable for the original bonds at the Logan Trust Company in equal par values at any time on presentation. We issue these certificates under the Brooke, Stokes & Co. $ 1 00 Bond Participation plan, Series C. Sales in Philadelphia JiOW, 01 n"94 fl.1 2(1 Vi 20 HO (l.Vj as Mi 03 37 32 2H. 30',, 01 4 O'i 43 H7 Net ChRC. Illnh. no Am Rys pf 04 10 Il.ilil !,iico. 30 130 Ulcc Ktor.. fl.1V4 S3 Ins Co N A 2(1 V4 1300 l.k Klip Crp 21 210 Loh ,'av. , 80 301 l.eh Valley flflaj 10 .Mlnchlll .. S7)i 0041 I'cntia It K At IS Va .Salt M. 04 BO 1'hlla Co.. 37'. 310 I'hlla Klco 32ii 100 I'KT tr cfs 20 J 50 Itay Cons, 30a', ino Reading, .. ll.Vj 21 Ton Hoi... 4 322 Ton 3tln., 0 10 t'nlon Trac 43 Al Hn (1 linn. Kin1. 11320 U ti Steel. 114 lISMi 1I3',H 2Mj 140 W ,V V & Pa .... 22 22 22 2V4 100 W .Ter & H Al Al Al Yt 3 Wcstmor C 78 78 78 7A Wm Cramp 00 80Vi 80H 1W 30 York Ry pf 3H 38 38 .)... Close 04 A0 1 3V4 2V!i 20H1 ' ho y, n.1 1 A714 A3V4 V 01 37 H 32 28V4 Vt 30 - 01 2 4 Hi 43 87 V, V 07 08 Va 102 Total Ml lei, 1.-.787 KliurrY 11,48.1 hares jrMrrila.il thui far till A'1,212 shurrM same period lnt Mffk, t.liiire(. II()M)S HlBh. Low. JI000 Am tins & Kl 6s ..07 1000 Allentowu T 4s ... 08 Va 1000 City 4s '4G.I0J B()0( do '38 r.101?, '11; 4000 I.elilgh Val gen reg 4s 00Vi 2000 do gun reg 43H ... 00Va 33000 I'cnnu Co gen 4VjS w I .... 07T4 4000 1'hlla Co 1st 6S...101-74 20300 PJ1II.1 Klec now 5s. .102 tiooo Readlnggn 4s . ... 01 romimreil with, nrrK 00.000 Ket , ChKO, vt Close, 07 08 Va 102 V4 101 00 V4 09 V4 971)1 101 Vi 101 00 Vi D0V4 07i Vi 101 vi M 10154 Vi 03 01 Total nilei, SKS.AOO, foinimreil llli $223,300 ;rsler(l.i Unit far IliU work. $A22,I(MI ame period lust week, 52 1.1,500. Local Bid and Asked llaMw In Loco Hrlll J (.1 Huff & Kusq tC.. "I lifil I'lettrli' Ntorncn ... Ucncral Axphnlt ... hi rf'l Kestniio Tel I.ako Hup Corp ..,, I.rhluh Nav I,ohlKli Vnl I.ihlRh Val Tr .... lo iM I'dina It It I'hllrt lllce l'hllii Co do (I per itnt pfd. ilo (I por tent pf il . I' 11 T t c Itiiiillhi; Tonopnh llolmont .. Tomipah llnliit; ,., Union Traction .... W G I 11 H Steel York Hwy do pfd Win Cramp t c Today III. I AMkr-d ns , , 2r . .. 113 ... Al . .. (11 . . . 21 . .. Ill ... 124 ... SO. . .. Ml .V4 ... 4.- . .. A.1J, ... .12 . .. ritlVa . . . :i' . . . :m ... Wi ... IIA ... IU ... ii'i . .. 4: ... K7'i ...113'fk ... 1." ... 37'4 . . . Ml'-j '.II?, CI ',.1 III M (11 13VJ 1'0'i t.014 III) 2i;'4 111'i a 7 w 37 in l).V, 4A ."? I.T, ll.'l', 1.1', as on Yesterday Hid Asked HOT. 1M (II A3 3J4 21 (II 1214 '.'1 80 (iiili 211 4.1'i . A3N a--' 37 3.1 311 2SW mi; 44 llJ 4.1 HA'! 1.1 374 no 111?. 2!) (13 fll!4 2(1 lid 134 21. 81 (1(1 h 2H'4 1(14 A I 32. as a 7 411 '.mi IMIS IV N 43 S7? li.-.'S 1.14 as Dl MAY WHEAT SOARS TO $2.07'lN CHICAGO Wild Excitement in Pit as Prices Rocket on Talk of War Sale's for Export CII1CACJO, April 5. Prices for wheat to day soared to new high records, with ex citement In tho pit most Intense May Jumped to $2.07 nnd all other options were established at fresh high marks. Fluc tuations lato In the session were rapid and feverish. l'or n tlmo tho tono was un settled, with operations of conservative proportions. There was Irregularity at the outset. May being higher, nnd new crop options lower. This wns followed by great strength on a heavy demand and small offerings. Tho Influences wero tho war talk of largo sales for export and more bad crop news. Somo ndvlco said that tho big wheat belt In Nebraska had suffered 11 loss of at least 80 per cent In winter killed, and adding that "It Is a calamity." Then realizing sales became free, but offerings wero absorbed by powerful Interests nnd prices Jumped upward by leaps nnd bounds. May, after having sold nt $2.00i, rock eted to J2.07, closing nt $2.06 to $2. 05, against $2.014 nt the end yesterday. July, after having receded to H.CSU, rose to $t.75'.4. finishing at $1.75Vi to $1.7511. against $ 1.70V, the final quotation of yes terday, .September, after having sagged to $1.55VJ, ndvanced to $1.61 Vi. closing- at $1.6l'i to $ 1.60ft, compared with $1.66, yesterday's last price. The (iovcrnment report giving the condi tion of the crop on April 1 will be made pub lic 10 a. ni. Saturday, and is expected to be bullish. The weather map showed dry con ditions In the Southwest, but there were rains In tho eastern part of the belt. The Ohio crop report for April put the condition In 'the State at 80, against 09 nt harvest In ll'ie. Tho Michigan report for April 6 last placed the condition at 82, compared with 81 In 1916. American Milling to Pay Extra The American Milling Company has de clared an extra dividend of 6 per cent, pay nble July 16 as registered June 30, Books close Juno 30 and open July 17. Half Million Gold for South America NKW YOItlC April 6. Clold to tho amount of $500,000 has been withdrawn from tho Subtreasury for export to South America. LIVE STOCK QUOTATM CHICAGO. Apr! ti.w 1IOUH rur.1. head. Market 15O20o hlihr . butchers, tlA.OS&lB.llAi Bood he... JA.flAi rough heavy. tB.0SOlS.33i iL. Uf 111.111), lima, O.WM.uu. DU1K, 110.331 CATTI.K necfipts, iiaoo head. ItitQ i Ileevrs, IS.OOtf 13.1A cows nnd hHfr,, 2 AlAelinP fltlll C A Jiff AB-IS t A . - " "ASH 1 Is ! nnnnvio .. -".io, I.HUUIU1 19 o "1 MocUrrs nnd frcdem. tin. .fiVl.ii"Ji cniveH, lV13.23 ultt'l-TI ttrr'ilnt (innnhr.n.1 Nalle and western, 9.35l'2,co: ffiLH WIB.1.1. 1 The Key The Key to Sound Investing I.endlnit futures ramrod as follows: Wheal Tes. Open. High. Low Close. close. May.. L'.OL'H 2.111 I'dO'; 'i 0(1 ..0-.' Jub . 1 711V4 1.7AW 1 (l' I.7.1VJ 1.7(i'j St-Pt . 1.AIIM., l.ni't I 5.V, 1 (U't LAOS Corn (new clelncry) May . 1 'Jn l.S7 1.21S 1.27'i 1.2.1i July.. 1.S1W l.S'1'4 1 22H 1.2A4 1.21H Sflil,. 1.1'a l.'JA'i 1.20 1.24'i 1.314 Oats Miy.. i,l4 ni'j o.l'i 0it4 04H July.. Oils (12 (III., (II, "OO'x, Sept. .14J4 Al'S A3S 54 54, l.anl May.. 20 HO 20.R.1 20.07 t20.SA t20 0.1 July.. 21.0(1 21.10 20.R7 21.10 20.8(1 Sept.. 21.12 21.17 20 9.1 21.17 20.83 Whs Ma.. 1R.R0 1RS7 1R.07 18.8.1 18 02 .TulV. . 1R.I12 III O.I 18 8.1 tln.0.1 18.80 Sept.. 10.05 10.17 10.0.1 10.17 M8.!)0 i'ork Mav. 3S.30 3.1.00 3.1.30 3.1.00 3.1 1.1 JulV.V, 'V.8-? 3513 34-75 33 ,a ' " Hid. tAskcil. BAR SILVER See How We Grow The increase in the net sales of the wi eui tions of "Moody's Analysis of Investments" over 1913 was 182; the increase .in 1915 editions over 1914 was 41 'A ; the increase in the sales of the 1916, editions over 1915 was 48; the increase in the sales of the. 1917 editions to March 15, 1917, over the sales of the 1916 editions on March Is, 1916, was over 44. This record speaks for itself. Price, $25 per annum, for the set of two books, one coverinR Steam Railroads and the other Public Utilities and Industrials. Send for Booklet No. 127 Moody's Investors Service John Moody, President 35 Nassau Street NewYorle V Today, New York (cents) 7.1s London (pence).. 30H 1017 I.nsl Yes. Thurs. High. Low (ill iv 71 30V4 33t 38,V 33U All Markets Closed Tomorrow All the securities and commercial markets and hanks will be closed tomorrow, Good Friday, a legal holiday. PHILADELPHIA COMMERCIAL MARKETS AND OTHER FINANCIAL NEWS ON PAGE 10. Purchasing Power Comparative "with the price of commodities the price of securities is cheap. Prosperity has made money plentiful. And it is evident that in the inevitable readjustment of commodity prices every dollar saved now will increase in purchasing power probably 50. Invest in securities. We would be glad to discuss your investments with you. -RROOKEfiTOKES &.C2 Investment B'e.nHprc 15tH&W&livvit St Members of the PKiltdelpliia Stocb, Exchange Kfewyct-t $45,000,000 1HE NEW IORK, NEW HAVEN & HARTFORD RAILROAD COMPANY One Year 5 Collateral Trust Gold Notes Due April 15, 1918 . Interest payable April 15 and October 15 . Principal and interest payable in New York or Boston Coupon Note, in denomination, of $1,000, fS.OOO and $10,000. Registrable a. to principal. Redeemable, at the option of the Company, in whole or in part, on sixty days' notice, at 101 and accrued . - . . interest. BANKERS TRUST COMPANY, OF NEW YORK and UNION & NEW HAVEN TRUST COMPANY, OF NEW HAVEN TRUSTEES The proceeds of sale of any of the collateral and or the proceeds received by the Company from the sale ltlflV"Uril1 Wlde tHe rder f aWJ Court of Wtent jurisdiciion, arc to be used in rcLeminTt any notes py lot at 101 and interest of edceming the These Note, are to be secured by pledge of the following collateralt 5,245 shares Boston & Providence . , 971 98,132 4,867 9,551' 1,015 17,482 23,520 2,469 1,464 922 291,622 400,000 20,000 37,370 47,950 ! Norwich & Worcester Preferred'. Uld Colony Providence, Warren & Bristol....'.'..',, Providence & Worcester Connecticut River Railroad Hartford & Connecticut Western '.' Rutland Railroad Preferred Concord ft Montreal Railroad ',', Connecticut & Passumpsic Rivers Northern Railroad (N. H.) ' " New York, Ontario A Western Connecticut Company Hartford & New York Tran.portatio'nCompany. Central New England Preferred P Central New EnrlanJ 4?nm SI, 500.000 Central New EnalcnJ dL ,., .. "" ' V ' V $13,000,000 Harlem River & Portchester - n.U.Ji.."." (issued under covenant that no additional marYv'a'L '.'k'li i." " 1 erty without paying off these rfet.ntur" oVcreatiL f X' PUt "PS PTop' lien under such morta. acoen,.ur or 'rcaUng for them a preferential $600,000 Providence ft Danielson 5 1st Mortnaae Bond. $600,000 Sea View Railroad B l.l UZJ'fS'. I"'' $1,250,000 Connecticut Company 5 Debentures.... ! Total valu ,, ) 210 120 120 100 185 140 28 30 100 90 100 24 50 100 70 SO 75 93 Value $1,101,660 116,520 11,775,840' 486,700 1,766,935 142,100 489,496 705,600 246,900 131,760 92,200 6,998,928 20,000,000 2,000,000 2,615,900 2,397,500 1,125,000 12,090,000 ..... an ... J r. ov,iiw ' 90 540,000 ,.... 1)7 A f ,"" M,M,OUU , 11111UJJJ' $66,575,539 The dividends and interest on the securities almtlamJ n i M" si SUBJECT TO PRIOR SALE AND CHANGE IN PPTrF wv nnr ' NOTES FOR SUBSCRIPTIHNT hTJhlKJlMJlHE ABOVE FROM APmi iVmi" 'ZREST . .,, trJff ArjLjUlijr Ovo P.nmnnmi vided such Notes of The Netn Ynrls Ktwm Wnnon jp. ut j n .. . ! maturina Mav 1. wi7 ,?i h r".?ll Company, and of The Np.vj Knlnj privilege of exchange is requested prior U 1C )dAiffizJTv&&h following :' --i nurn ifin, 1H17, Vir is ew naven notes . inn y 1tl. .. ,, . h wihw.iMs. . 100V -rz ?r:i lT3 iMfe)- Navigation prices, pro '""?c-";ta-r 4tl Particular! tauttt. 'P T M BROQKEw STOKES & CO. I I tm UinmTTT 1 - tfimmfemma 'M&m 1 ) -ysr.
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