m .
f
EBESffi
,,
Uu
rrt States
tetitoleufh
i,
12 a Y.ir
PM Memtfely
Jfe-ur requirements as an Invest
V that an oil stock should have
llr nf it afttisl firnrlfifttnn n
Mired earnintr.t. oxneriencerl and
Conservative management, possibil
mes'of ranlil .iml nrnfitnhle exnan-
alnn. all' tri tn Ko in of in lil
tecurity.
vr , WHY
should von invent vhnr monev in
any security that will not pay you a
guou return r v
There is an active market for this
security on the New York Curb
Marlrof
Write for descriptive circular No. 61
THOMAS E. DONOVAN & CO.
. Specialist in Oil Securities
25 Broad St., 29 So. La' Salle St.,
Nw York Chicago, III.
Our Service
Its Distinctive Features
No. 4
The Investor's Requirements
' Before recommending se
curities to individual in
vestors, we endeavor to as
certain and analyze their in
vestment requirements.
We are frequently able to
suggest securities which ma
terially increase investment
jeturn without sacrificing
safety.
You are at liberty to avail
yourself of our investment
service.
Send for our Current List PIM12
The National City
Company
1421 Chestnut St., Philadelphia
New York Cbicif) s'lin Francisco
Bottun I'lltiburjli
.m.R$0v.
CANKERS
'(Katabllalied 1837 J"
321 Chestnut Street
Philadelphia
Cltr or Kdmonton (Canada) S. 1031
City of Kdmonton (C'unadn) On. It)'-! I
I'ltr of lllacVfoot. Idaho. (In. I SI 17-:: (I
Midland Valley K. II. Co. 1t S. 181.1
Chlcarsi (Ireat Western Rwy, Co. lut l,
1050
New Orleans Terminal llw lut in. 1033
Houtnern Indiana Itwy. Co. lut 4, 1031
Reorxla Rwy. & rower Co. Int S, 1031
Tiucaloonu Rwy. litllltlrn Co. 1st flu, 1010
D. I.uplon' Nona Co. 7 I'fd. Cum. Quar.
ulv. "Free of Tax
Circular and prlir on application
Morris Brothers Co.
Kitaullshed 1803
1421 Chestnut Street
Nearly
all Profit!
DO TO0 KNOW
that prnctlcally the entlr In
come derived from the sale o(
oil produced on the properties
or the
ELK BASIN
PETROLEUM
Company la net? (A aeparate
company aeaumea all operating
risk.)
AND DO YOU KNOW
that, this company, with n dally
production of about 1000 bArrela
ot oil. la paying- dividends at
the rate of 12W cents a share
quarterly? Write for detailed
report on Elk Basin, Just Issued
by our statistical department.
Ask for US-T.U. ,
i JONES BAKER
t.' STOCK BROKERS
tftimm iMg., Philadelphia
S&
-rWk
Sell. Walnut 1690-1.
Keystone, jtac
ace WOO.
Boston
Pittsburgh
Direct Prtpotsu Wires
, 1
IfJM Mi BAKKR.
9tf.. rmiaatlptiia. Pa.
i'hs4 xour report on "Elk
eL ' s.
..,
V
Wff.
: -1 i
FINANCIAL NEWS
LIGHT TRADING CONTINUES TO RULE
ON PHILADELPHIA STOCK EXCHANGE
United States Steel Common the Most Active, Moving Over
Narrow Course Price Movements Are
Small All Through List
' Sales Ik Philadelphia
The stock market In this city pursued an
uneven course nil through tlio day, niul whllo
the movements In .prices were Irregular, they
were small n compared with the llnal flu
urea of last nlfclit. In nctlm? ns It did tho
market folloVed In tho course of tho recent
previous days !n o lsuo was there nny
real activity at nny time during the wholo
day, nnd If "It had not been (pr Pnltcd
States Steel common tho total transactions
for the session would havo been smnll In
deed, While the turnover In Steel overshadowed
by far tradlnrc In any other Issue, It was
not up to other days of tho last week or
so, Throughout the whole session the stock
moved over n narrow course, Tho wildest
movement took place In Cramp Shipbuild
ing, that stock at ono time sclllnc up nearly
3 points, reaching 89'i. As previously, tho
movement was accomplished on light trad
ing. In Lake Superior Iheie was very little
done, nlthough that stock and Philadelphia
ltnpld Transit trust certificates weio nhout
evenly matched as far as the amount of
business was concerned.
Tho sltuntlon in Philadelphia ltnpld
Transit at the moment can bo described as
having tho Street "up In the air" Today,
as yesterday, thoxo who keep In touch with
tho company's affairs and who have been
following tho steps in tho negotiations on
tho now transit lines would not mnlco any
comment. The general opinion f-ccm to
WHEAT IS HIT HARD
IN CHICAGO MARKET
Reports of German U-Boat At
tack and Free Trade With
Canada Cause Sharp Declines
CHICAGO, April 1" Cnpreccdentcd vio
lent fluctuations occurred In wheat today.
After tho market had been very weak, cov
ering caused a tally from the bottom, Trndo
was veiy large. HepottB that a Merman
U-boat had fired on the United Statet do-
stroyer Smith off tho Atlantic coast nnd
tho nctlon of tho Canadian Government In
placing wheat, wheat Hour and semolina
on tho free list had a far-reaching effect.
In tho Initial trading a big slump was
followed by a sharp rally from the bottom,
"but the Improvement did not last long.
The action of the Dominion, coming at the
culmination of a tremendous ndvance, pre
clpltated great blocks on the market.
Tho step taken by Canada Is tho result
of prrssut;o brought to bear by the farmers
of tho western part of that country, and
a dispatch from Winnipeg said that the
market there should bo bigger and better
than ever.
Canada's surplus is estimated at "0,000,
000 bushels, nnd this, added to the sur
plus of 40,000,000 bushels nf the United
States, makes about 110,000,000 bushels that
can bo exported before tho new crop will
be av ' able.
l'ir some tlmo shipments abioad have
averaged about 5,000,000 bushels a week.
It Is believed that congestion In milling
wheat in tho United Slates will be relieved.
Tho cash article today was unsettled, with
values readjusting themselves to the new
conditions arising from tho addition of
Canada'H surplus. Weather conditions In
the Southwest were better, A special te
poit Issued by tho Oklahoma Department
of Agrlcultuto put the condition of tho
crop tn that statu on April 12 at 00, against
74 by tho Government this month and til
labt June, Tho maikct at Liverpool was
dull but firm.
May, after selling hero at $2.30, dropped
to $2.21 s, closing at $2.2194 0'2,2l. against
$2.30, tho llnal quotation of yesterday. July,
after touching 51.97, fell to $1.88i, end
ing nt 51.91 tt(f l.OO'i, compared with
$1.9914. yesterday's labt price. Septem
ber, after leaching $1 72'.'j. dropped to
51.G4U, closing nt 51.C7Hfrl.G7, against
$1.75 H at tho end yesterday.
The available supply In tho United States,
according to Hradstrcet's, is 41,895,000
bushels, a decrease ot 3,930,000 bushels
for tho week and compares with 02 970,000
bushels a year ago; In Canada it Is 78,719,
000 bushcls, a decrease of 4,320.000 bush
els for tho week and compares with 85,370,
000 bushels last year.
Advices regarding tho stocks In I'uropo
vvcro not received.
Corn suffered severe losses also, although
It rallied from an Initial slump on the exe
cution of a great many resting orders to
buy at declines. Final prices, however, wcto
above tho bottom. Tho market at Liverpool
was strong.
Thcro was good trading In oats, but tho
range of prices was not as wide as It was
In tho othor grains. Last prices were
weaker, but nbovo tho lowest. '
I.caJInE futures runcnt as follows:
Wheat Sat.
Open. 1 1 lull. Low. Close. clnno.
May.. -'32 '.'.IIO 2.214 2. 21" 2,U
July.. l.UT 1.07 l.84 l.lll's 1.1111
Sept.. 1.72VJ 1.72"i 1 1 U 1 07-, 1.75
Corn (now ilelhory)
May.. 1.4IH 1.42H 1.30 1,38'i - 1.4211
July.. l.:i7'j l.:i7'a l :2i i.:u l nn',4
Hept.. 1.31 1.32 1.23 1.2S 1 33
Oats
May.. 00'i ' I13T1 !, n;i;
July,. ill4 SIS4 112 V 34 Ht'i
Sept.. ri7 57'a S3'j 534 .18
Lard ..
May.. 20.7.1 20 11.1, 20.K2 20.70 2110
July.. 21.22 21.22 20.S.1 2(1 '42 '21.3.1
Sept.. 21.31) 21.30 20 07 21.00 21.42
lllbs
May.. 10.20 ln.3.1 10.20 10.3.1 tlO.8.1
July., in. 87 20.0(1 in. 4.1 ln.oj 21.1.1
Sept.. 20.00 10.75 10..17 10.70 120.20
l'ork
May. . 30.50 3n.no 30 00 3(1.40 87. 12
July. . 3n 0.1 30 (IS 31 87 30.37 '37.20
Hid. t.vsked. t Nomina I.
LOCAL MINING STOCKS
TONOPAII STOCKS
Did. Asked.
Jtnc.N'amara 07 no
Midway i 1.1 .tn
Mlzpah Extension 12 ,13
Montana '.'d ,',-,
North Star 14 .in
Itescue Lula 20 ,27
' GOLDFIDLD STOCKS
Illua Hull 02 ,0,1
Ilooth ..'...., 03 ,10
Combination Traction 07 ,uA
Dlamondllcld 11 1) 03 ,0.1
Daisy )3 ,0.1
Oro 02 ,0.1
Hand Ken 03 ,04
Silver Tick 12 .14
, MISCELLANEOUS
Arizona United 45
Tecopa illnlne 1U
.48
U. S. Buys Silver for Local Mint
WASHINGTON, April 17 The Treasury
Department has ordered purchased from
the American Smelting and Refining Com
pany 200,000 ounces of silver at 0.74125
per ounce, for delivery at Philadelphia;
200,000 ounces at 0.7525, for delivery a't
San Francisco, and from the American
Metal Company 100,000 ounces at O.7410
per ounce, for delivery at Philadelphia,
J. B. Stetson Common
Stock
Yfe offer 45 shares or any part at 369
George N. Fleming
jafaMtto Wt Thlladelphld
Wi siclalistj In 1 1
JUtfUnd Payiaf Oil Secinti
IlWe'MlMtt arders In ths Indeundrat OIU II
on partial, payments or for cash:
IHVIVVW, IMTLBR, 1, CO.
j I
JBlfflMfakx aaMamrfJ-' ?L a TiaMBralMBftiTrin
mi
wall for some definite move ono way or tho
other. In the meanwhile tho certificates
move over a narrow course. At ono time
today tho price was off 4 ns compared with
tho cloro of yesterday, but In the nfter
noon the quotation had recovered and sold
up to 29 . Lato In tho day ten shares of
Cambria Steel sold for 119, up 4 polntt.
To tho fact that tho traders In tho Street
have been holding off from making commit
tments until tho tlovcmmcnt loan Is under
way Is now another factor, which, in tne
minds of many In tho Street, will hold
trading at it minimum until there Is Home
tiling definite known. Tljo announcement
from Vnshlngton that profits on war sup
plies would bo kept at a minimum naturally
caused holders of Industrial stocks to won
der what would happen to tho companies In
tho way of. profits on tho money Invested.
This was followed by tho news of the Ad
ministration's plan of Increased taxes, which
would cat Into tho nroflts of the various
companies. In view of theso things, tho
opinion Is held that a waiting policy Is
right In lino with conditions,
Tho required amount of preferred nnd
common stock of tho Lehigh Valley Tran
sit Company has now been deposited tinder
the ngrecnient for tho merging of tho prop
erty with several others. Moio than 70 per
cent of each stock has been deposited. Tho
understanding li that thero Is now nothing'
In the way for tho confirmation of tho
merger.
COTTON ENDS STEADY;
TRADE INTERESTS BUY
Easier Ocean Freight Situation
Helps Improvement Exports
Continue Heavy
Ni:V YOIIN". April 17 l.lveipool cables
wero disappointing nnd possibilities ot rain
In Texan nnd Oklahoma wero seen in tho
weather map. but tho cotton opening was
steady today, with pi Ices down 9 to IB
points, the losses being only half as laigo
ns due on tlm Kngllsh maikct drop
Hiislnoss, however, was smaller than In
romo tlino and u hesltntlng tendency was
noted, buyers waiting for offers, whllo sell
ers were holding (ft tor bids.
Thcro was a continuation ot tho telling
by an operator usually acting for prom
inent Southern Interests which was noted
on Holiday and some of thu comml.ssinu
houses supplied tho list.
llcports of an easier ocean Weight situa
tion helped to steady the maikct at tho
opening decline, nnd, after selling at 19.70,
July tallied to 19.85. Thcro was general
pressure, but offerings Increased on this
Improvement nnd the market fooii turned
cas'cr again owing to the better weather
and tepoits of a slack spot demand
July sold off to 19 72 and October to
18.K5 after II o'clock, with the general list
working some in to 10 points net lower.
In mldaftcrnoon the cotton market ruled
(inlet and steady, new ciops holding rela
tively steady on demand fiom trade in
terests. Thu nppioach of Slay notice day
led to scattered old crop liquidation.
Spot mai Lets were slightly easier asi
nlllclally reported and private messages told
of freer Interior offeis. '
Tho exports for the day aggregated 27,
8S9 bales.
Tho shipments thus fnr for the t-enson
havo been 1,499,400 bales, compared with
4,280,814 bales for tho corresponding period
last season.
YcHt. rlon Open. Hlclt, Low. 'lose
May 20.3(1 20,1(1 L'll.23 2(1.1.1 2(1.20
.Iul , lll.KS 111.71 lll.NII 111,70 111 S.I
Odolx-r. .. IN. IS IS Ml IS (II IS .11 Ik ns
lxi-cmher ... 1S.71 iN.rtd 18.71 1R..18 18.71
.tnnu.iry 18 77 18(11 18.72 18.(11 18.72
March 18,87 18,87 18 81 18.81
Spot I'd 5(1
Net
lllnh. I)W. Close rhe.
is Amor Mill. 0 W V
loo Haiti I.o pf.lOOJi 100 H ,014 1
1 M AStopf 33 S3 AS
10 Cam Steel, 110 119 ,10 fx
23 Kleo Hor. 034 3 3
40 Ins CoNA 2014 214 V
403 I.k Sup C. 20 10V4 1014
n T.i, r,, in in 10
OOLiVTrpf. 43 414 44W 1V4
3 IJt Schuy. 33 BS 53 .A..
23 Mluchlll ..33 33 33 14
10 Jler & Mar 20 28 20 Mi
43 North Pa.. 0234 02"4 0234 V
314 Penna II II 3314 3 B3W ......
33 Pa Salt M. OS 0414 04
Ul Phlla Klcc. 32U 32 8W.;-;
332 P 11 T t C 2034 2334 293!
100 Hay Cons. 20 ! 2014 2014
73 Heading 2d
prcf ... 43 43 ,43 1
100 Ton Uel.. 4," 4ft ft rt
ISO Ton Mln.. 014 014 fll4
73 Union True 43 4234 'i 14
242 Un O Imp. 3d 33 83 14
140 U Cos N J.223 223 223
4033 U S Steel. HOTd 10DT1 HOtt
loo Utah Cop. 10714 10714 10714 114
100 W IS Y & P 22 22 22
45 Win Cramp HP"'. 39 30 jr"
Total Mitrs, 3333 slinren, rnmnnred llh 12.-
917 lmre jmlenlioi Hum fur this week, 21.JH3
rliurmi nunc ierloil lunt week, 28,391 cliarfi.
110NIIN N
High. Low. Clo, (hse.
?30fl Am tlas Si
nice Bs.. 0014 014 0314
Iiooo Ilnld I.dco
1st lis... 10314 103 103 t- 14
8000 Klec iS: Pco
Tr 4s 83 8214 3214 14
1000 I.eh Val 1st
ext 4s.. 80 39 89 14
1000 I.eh Val Tr
1st Cs . . 02 02 02 1
21000 Penna Co
gen 4,4s
w I 97 omi nr.'i 'A
looo Pa & Md
Slecl Cs.lOfl 100 103
:iooo Phll.i Co
corn Hh. Ill 01 01
13300 Phlln nice
new r.s..l013i 10114 loiaj 14
21000 Heading
geu Is.. niH 0114 0114 14
1000 Itend-.Ir C.
4 0014 0014 0014 114
1000 Second Avo
5h 01 01 01
2000 Un llwy
Inv Cs.. ooiii oi4 0014
300 AVelsbacll
Co Cs. ..OR 98 08
2000 W N Y & P
1st 5s . . IQ3 10.1 101
Tnliil miles. S90,ll. rnmpnreil wllh 3118.000
p.lcnlm: iluis fur Ibis week, $JI3,00(I Mime
lirilod lust urrk, S'.'.IO.miO.
-ii
:i
untrvn- ,1
Vr'
Local Hid and Asked
drill. J (1
Huff & Susci i c . .
do nref t
n.ihlwln ,
I'.lw trli M(nriirM . . . .
(.((lend Anphait . .
fid iirec
Kplslono Tclpphdlie. .
I.nke Hun Corp
I.rhlcll NnvlK.ltlmi .
l.eliluh Vnlley
l.ehlKli Valley Tr....
o il pref
rcnns.vlvnnl.1 . . .
l'hllii Klettrle ... .
l'hllii I'oiniuny
.Id .1 tier icnt tr
dd (I per cent pr. .
Phlln Hap Trnn t e. .
Tnn(ip.ih llplmolit . . .
I onop.i" .iiiuiis . . . .
imion ir.iLiKin .....
II (I I
If U Ul.nl . . . .
York llnllwny
do pror
W'm Cramp t c
To
DM.
. r.t
. 33
. (12
. 2.1
. (-
. 12 '4
. Ui'i
. 78
. 11.1
. 2.1 J4
. r.'i
. 32
. 3.1
. 3.1
. :is
. 211 'i
. 03
'I1
II".
. 424
. N.I!,
,110V,
. H'i
. 37
. S7
lay.
Ask.
2!
(12
33
33',
113
21
(II
13
1!l
711 '.4
US '4
2U
4.1
3311
32 'i
:i'i
r,7
11854
2!)
11.1',
1
(114
43
s.-.n
no',
ir.;J
so
Vnstcnlay.
Hid. Ak.
(,()
32
.13 W
23
(13
1214
2d
7814
mi a
23 '4
4.1',
M
32
31
31
3S
2ST,
US
4 '4
(!,',
42
8.1 i
ltd',
un
37
87
.11
31
ill
13U
20'.
711
(.(',
20
111
r.3'
32 'i
311
37
39
211 '
03 U
t".
(IV,
43
8(1
1KIH
13 14
:isi
Ml
Liverpool Cotton
I.lVURrOOL, April 17,--Spot cotton to
day was reported quiet, at 20 points decline
on the basis ot 12,72d for vulduplands. The
rales aggregated 7000 bales, including 5000
bales American. Tho Imports were 9000
bales, including 8000 bales American The
market for futures closed rpilet but steady
at a net decline of 17ff 21 points.
The Missouri Pacific Railway Company
and .
St. Louis, Iron Mountain and. Southern
Railvay Company
REORGANIZATION
To Holders of Certificates of Deposit issued by Central Trust Com
pany of New York or Guaranty Trust Company of NewYork,
London, or issued or stamped by Administration Office of
Broes & Go'sman, Amsterdam, representing Stock . of The
Missouri Pacific Railway Company:
The Plan ami Agreement of Reorganisation of the Railvvay
Companies above mentioned, as. modified July 25, 1916, having
heretofore been declared operative, and the rcorpwization of said
Railvvay Companies thereunder having been authorized by the
Public Service Commission of the State of Missouri, NOTICE IS
HERERY GIVEN that holders of the above-mentioned certificates
of deposit are required (a) to pay on or before May 22, 1917,
$49.95 per share of stock represented thereby (being, the sum of
$50 per share mentioned in said Agreement less an adjustment for
interest upon the General Mortgage, Four Per Cent. Gold Bonds
issuable against such payments), or (b), at their option, respec
tively, to pay on or before May 22, 1917, $12,45 per share (being
tiventy-iive per cent, of the sum so mentioned, less such adjust
ment for interest) and the remaining $37.50 on or before August
22, 1917, with interest on such deferred payments at the rate of
six per cent, per annum. As provided in t said Agreement, such
deferred payments vill he secured by the stock deposited, and also
by the General Mortgage Four Per Cent, lold Bonds and voting
trust certificates for stock of the new sfiissouri Pacific Railroad
Company, or scrip for the same, and other benefits to which the
holders of such certificates of deposit would become entitled by
making their payments in full.
The undersigned Reorganization Managers have designated
June 1, 1917, as the dale from which such General Mortgage Four
Per Cent. Gold Bonds shall bear interest.
The payments aforesaid must in every case be accompanied by
presentation of such certificates of deposit for appropriate notation
thereon of such payments.
Such payments in the United States must be made at the
office of Central Trust Company of New York, 54 Wall Street,
New York City, in current New York funds, or at the office of
Mercantile Trust Company, 721 Locust street, St. Louis, Missouri,
in current New York funds. Checks must be drawn to the order
of the Trust Company to which payment is made, and must be
certified if required.
Holders of such certificates of deposit who shall fail to make
prompt payment of said sums, or of any instalment thereof, on or
before the respective dates hereinbefore fixed therefor, will forfeit
any voting trust certificates and bonds, or scrip for the same, to
which they would otherwipe be entitled, and will cease to be entitled
to any rights or benefits under said Plan and Agreement, and will
not be entitled to the return of their deposited stock, or to the
repayment of any 'cash, theretofore paid in respect thereof, or to
have any further interest or right in or in respect of the same or
under said Agreement.
Dated, New York, April 16, 1917. '
KUHN, LOEB & CO.
Reorganisation Managers.
sssHssilSsfsfsfsfsflsMslBiHSMissBssiii
To 'Holders of Stocks, Bonds and Claims for which Provision is
mads in the Plan and Agreement of Rerganization above men
tionedi ,
Referring to the foregoing notice, the time within which further
deposit of stocks and bonds and assignments of claims may be
made under the Tlan and Agreement of Reorganization aforesaid
1 extended to and including May 22, 1917. Payment of the sums
and at the times and on the terms and conditions stated in said
notice Will be required in respect of all stock deposited under this
extension. Holders of stock or bonds not deposited and of claims
not assigned on or before May 22,' 1917, will not be entitfed to
make .such deposit or assignment thereafter except in the discre.
tion of the Reorganization Manag ersand upon such terms as they
may impose. '
TJated, Kew York, April 16, 1917.
' .' , KUHN. LOEB M CO.
"t -'WrisMMiii v-1 in- i - - Jsvni
Firiandalitriefs
The total sales of the General Elcctrlo
Company for the year ended December si
aggregated $134,242,290, ns compared vvltn
$80,622,070 tho previous year. Tho net
Oroflt from sales was $16,294,092 last year
is against $8,633,887 In 1915, while tho
total Income was $19,160,973, which com
pares wffli $12,307,996 tho preceding year.
Tho balance In 1916, after Interest charges,
amounted to $18,580,628, equivalent to
$18.31 per shnro on tho 1,015,125 shares out
standing. This compares with $11.66 per
share earned In 1915.
The New York Subtrcasury gained $1.
992,000 from tho banks on Monday, making
a cash net gain since Friday of $5,721,000.
Tho operating revenuo of tho Utah cop
per Company for the year 1916 was $50,
280.073, compared with $27,165,942 tho pre
vlous year, Net profit In 1916 was $39,
148,963, equal to $24.09 n share. In 1915
the net profit wns at the rate of $10.60 a
phnre.
The Magma Copper Company reports
gross sales for the year ended December 31
totnllng $2,274,725, nn Increase of $1,233,829
over tho previous year. Net earnings were
$1,097,333, ft gain of $485,604.
"William It. Lyman, mnnager of the Phil
adelphia branch of William Hltlmier & .Sons,
has been elected n director of the Colonial
Trust Company.
isiT'iy w,""rr ' ."
ClHUAab. April 17.-HoaS-nelpis. 15.0M
head) market slow and cnk to shade lower.
Mixed and butchers, $15.80010.201 tood heavy.
$13.00010.201 rough heavy. $lB.C0O15.70l llsht.
$18.230101 PUt, llt.2BO14.30l bulk, $18.7BO
CATTLE receipts, 4800 hedl ke' .k
rteevea. tD.2301H.2Ai covto nnd hjlfers.tB.70W
111 stockers and ' V'J". 7.230.OOi Tean.,
lO.ffllOlli ealves, t0O13.2.
HHKi:r rtccelpls. H.OOO head! market weak.
Native .nn" western. tl0.03O12.H0i laml.s.
$12.10 18.00.
vnnced Its price on electrical conduit $t(
ton, cueviivu m uiac,
tl
Western Electric Doubles Capli ?J
THENTON, April 17. The WesUrJ
Its Incrcaso In capital stock from Sibtm 1
(inn o J30.7EO.000. iiD,.'I
1 i VlTtf' VII
Olin Fjnney&Co
AUTOMOBILE BANKERS
Offer special facilities for In
dividuals or automobile deal
ers to finance the acquirement
ot pleasure cars and for
business houses to finance
tho acquirement of commer.
clal cars or trucks. If you
are thinking of purchasing a
car of any kind for any
purpose the FINNEY SY3
TEM will make a better busi
ness transaction for you.
REAL STATE TRUST BUILDING
PHILADELPHIA
SPECIAL CIRCULAR
New Government Loan
Un effeet on flnnnee and bualneaa. Wealth
nnd reoniircei of Knglaml, l"runce nnd
Itiifthht compared wllh IT. 8.
Mulled Upon Itequeat
Braungard & Co.
Stock Exchange Bldg.
MiiiriiiiiiiBraiimiiiiiiira
in 1861 W1IEN
THE GOVERNMENT WAR LOAN
nearly failed of accomplishment
JAY COOKE
volunteered his services and financed the War, receiving
$830,000,000 in subscriptions
TODAY
In his old office at 220 Forrest Building, 119 South- 4th Street
within a stonc'B throw of
t
INDEPENDENCE SQUARE '
and in tho same-spirit of
PATRIOTISM AND SERVICE
without charge or remuneration, we will receive subscriptions to the
P
I
GOVERNMENT WAR LOAN
OF 1917
H. EVAN TAYLOR, Inc.
INVESTORS SERVICE
MAIN OFFICE
303-4-5-6 Morris Building
1421 Chestnut Street
mm
WAR LOAN OFFICE
220 Forrest Building
119 S. 4th Street
iiniin
$1,564,000
Western States Gas & Electric Company
(of California) "
v Six Per Cent. Gold Notes
Dsted February I. 1917. Due February 1, 1927
Authorized by the Railroad Commission of California
Callsble In whols or Id psrt upon thirty dn' published aoHc. any time prior to February 1, 1021,
at 102 and Interest! at 101 and Intereit thereafter and prior to February I, 125; and thereafter
at 100 and Intereit. Guaranty Truit Company of New Xork, Truatee.
For information concerning this issue, we summarize as follows from a letter signed by Mr. J. J. O'Brien,
Vice-President of the Company:
The Company owns and controls water-power, electric and gas utilities in Central
' California, supplying more than thirtc6mmunities, including Stocktonf Eureka
and Richmond.
These notes are the direct obligation of the Company. No new mortgage may be
created upon its present property without equally securing this issue of notes. 4
Additional notes may he issued only when net earnings, after providing for inter
est on all prior charges, are equal to three times annual interest requirements on all
notes outstanding, including those about to be issued as well as the interest upon
any floating debt.
Earnings applicable to notes for year ended February 28, 1917, after deduct
ing annual bond interest charges were over three and three-quarters times annual
interest requirements on these notes. Net earnings were over one and three-quarters
times total annual charges on bonds and notes outstanding.
Purpose of issue to retire $621,500 notes called for payment on April I, 1917, to
pay for recently acquired water rights and storage reservoirs, to retire floating
, debt and to provide funds for extensions and additions.
Price 98 and Interest, Yielding over GlA
, Descriptive circular upon request
William P. Bonbright & Co.
Incorporated
MORRIS WISTAR STROUD, Jr Manager
437 Chestnut Street, Philadelphia
NCWV0RK lonoon 0ST0N ' CH'"co PAR1S -orr
William P. Bonbright & Co. Bonhriakf A n
----0.., n v
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1 j
h
NATIONAL DEFENSE
BULLETIN No. I .
To Local Military Organizations
and Police Departments:
IT IS of the 'utmost importance that materials for instant
1 use and defenae, in case of audden emergencie.
ahorfd be at hand and entirely adequate to the S
menu. Experience has shown that no one implement
of defenae or attack i. more efficient than thTS"
Colt Machine Gun, which ha. met every detail of t'
moat exacting requirement., both i' ltZ
can be filled bv J 1" of tS
Prices quoted upon application. '
Tht Marlin Arm, Corperatlon, N.w ii.v.n, c..
'.-I
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V .li
twawaa
km " S'1' '''"