,1 v. ' J ntt rx ' -r' F l & ft .M ", i r .,' " 1K1 ft i:& ,j s ,K Kx;f V tov. , iw H . Kte. 6t - ' rV u SA m , x ? "! rf,. w P r iv II , By, a ffijy 1HW'' - r - tr r-V," '!' MHfA, Ml -;?: JffiMTft' t j ' f" "- - ,, . ? nf M? 4 . v.Ji 1'h- w Itriy ftr-tcast of Market. Prospects n Peoce or Wtr ' v "By Thomas Gibson 'AttHwr of "Pltfalle of Speculation " '"ncmcnta of Speculation." cic. Some stocks "are scllintr too low .Mid other ton hlcrh hccnufio of vmrylnjr influences and prospects. Xaen important group is dis cussed under the following heads: favr-firleerl RttltrAnd Klnrk fteonranltetl Railroad Mtwk . Dmaend-narlnc lullronti Hlorku War Mortis Motor Mocks f'opprr Storks Mlsrellanmti Industrial Morks Low-prtred llond The Forecast includes n clear dis cussion of the true railroad situ , St ion and outlook, the probable in fluence of continued war or carhi I'peace on different classci (if securities, nnd several valuable statistical tables. Specific rccom $ mendations aro offered as to best methods nt present. A careful reading of this document will serve to clear ajvay many per plexities. Single Copies $1,00 "Tbi Poeolhllltlfa anil ImpnsslMIIMrn of Speculation nnd Investment Hiwcti latlon,' an essay on tho suhjn by the same author, now niallitilu for free d trlbutlon. Thomas Gibson Hulle 313-1(1 Columbia BIdg. New York FINANCIAL NEWS CROSS MOVEMENTS IN VARIOUS ISSUES IN WALL STREET ALL THROUGH THE DAY Rallies and Reactions Quickly Follow Each Other Special Reasons Where Important Movements Occur New Haven Drops on Application for Preferred Stock New York Stock Sales Net High. 1-ow. Close. cho. High Points in Today's Financial News Croat movements occurred in tradinq in New York. New Haven made application to issue 7 per cent cumulative preferred stock, causing sharp decline in present stock. Stocks on Curb followed movements on New York hxchaugc. wheat strong, new high marks being made. Cotton lower. For eign exchange dull, liar silver higher. '&mmimmwmmmwmmr &i West States Petroleum Dividends 12C Year Paid Monthly Your requirements as an invest or that an oil stock should have back of it actual production, as sured earnings, experienced and conservative management, possibil ities of rapid and profitable expan sion, all seem to be met in the security. MARKET There is an active market for these shares on the New York Curl) around l'i to l4 . . We look for Rreat activity m this security and higher prices, Send your order at the market. Write for descriptive circular No. CI THOMAS E. DONOVAN CO. Specialists in Oil Securities 25 Broad St., 29 So. La Salle St., New York Chicago, III. -. cw.mrum. BANKERS (Established 1SJ7) 321 Chestnut Street Philadelphia , Ni:V YOUIC, April 19. Thoie liuvo been few occasions on which prlco movements In the stock maikct wcio ho llcro In direction nnd with tho market tono so varied as was Included in to(l.i'n opcratloni. Thero wero cross movements in nrIous groupi of HtotkH fioiu tho opening until tho closp, with rallies nnd icactlpni quickly follow Iiik each other nnd with tho majority of Ic.idlns mocks ending tho day without much net change. Special iciiBons pi e nllcd where more linportnnt movements occurred. Tho lnolng of tho new Pittsburgh nnd West Vliglniu is-mci demnnded attention lieeaiiKe of tho manner In which I ho ptefcircd slock was token by strong hnuCM, putting Its prlco up fiom HS at tho close citcrday to S-'M. today. The rommmi Htoik, nt the same time, rose from 2J tti nhovo 21. The advance in tho pivfvrrctl slock was accompanied )j posltlxe statements that it will moil be placed tin a C per cent dividend basis, nnd stitno of the repoits coming fiom sources that should bo well Infoimcd weic Unit dividends at this late will bo glial nuteed by the Pennsylvania. Railroad, Ohio Titles (las moved up more than 3 points to the now high iccord of 113'ii, and Utah Topper made nit ntUniico of m tu 111'. United States Steel t'ummun was steadily bought, ranging above 112 nil through tho day. The Marino Issues weie stiong for u time In the earlv ttudlng, when tho pic feired io"e 1 point In MIV6, but In the afteinoou the plico broke to "fiV Atlantic, (!ulf and West Indies, nflei advanelng 1 to 103, dioppcd to OS" Ccnc'i.il.Motoi.t fell fi tun 1031, to 0!), and Studelukci. after a'dvanelng to Sfi'4, lost all Its gain. Impoitauie was uatuially nttacheil to the pleasure against New Haven following tho announcement of tho company's application to the Connecticut Ascembly to Issue 600,000 shales ot new 7 per cent piefcncd stock. This news was followed by vlgoioils selling of New Haven, which dropped moie than 1 points to 30'i. Thcto was a generally steady tono to tho bond maikct. with tho Penn sylvania Issues In better demand. The 41,4s, when Issued, were traded in at Otift to 97. Consolidated Oas Cs weio tinner, advancing M to 112. STOCKS ON NEW YORK CURB FOLLOW COURSE OF SECURITIES ON 'CHANGE NEW YOKIC, April 19. The movements on tho Iliontl Street Cuib were In direct lino with those ' on tho Now Yoik Stock i:change. Some stocks sold off shut ply, with seveial touching new low recoids, while otheis showed a fair deglee of sticngth nnd n number made substantial gains Vilght-Martln Aircraft was one of the weak features, falling from OVi to 5V United Motots sold down from 31 " to the new low of 30',, nnd Cheviolet dropped fiom 10." to 99 Malm Munitions also made a new low, selling nt 2U, and Aetna KplosIves sold at JV4. A number of the mining stocks wcio In good demand, with .Tcromo Veido mlvnming fiom 17-10 to 2'i There was bulng fiom stiong pouicos in Magnate Copper, which advanced to SI cents, the highest price at which it has hold In this miikct. llutte Copper and Zinc sold at 9& and 9 VI. Big Lodge at 3V. nnd Magm i Copper at 19 to 17'$. St. Joseph "head moved up fiom 17U to 18. and Mllford lose from 93 cents to $1. Meliltt Oil was actlvol tiaded In, tanging from 2114 to 2.rOi. Houston OH decilncd fiom 2-' to 2J, and National Conduit was fairly well held with hales at 34'i to 31 Noith American Pulp boltl at 57i to O't. and Standard Motors advanced from 1 1 to in. APIs. Chalmers Co 2.Hi Am Agr Chem... 0P4 Am ncct Sugar,, ns Am Can 4sn; Am Cnr ft Kdy Co tifl4 Am Cotton Oil.,,, to Am Jllilo & t. pref flj 20 An dim; Am l.ln-ieod tlo prcf ...' Am Mnlt .... do prcf . . . Am Smelting Am Sugar . . Am Tel & Tel Am Tobacco Am Wool . . . Am Writ Paper pf -it if, Ain zanc fc Jcatl.. 33 25 0Pi 01 41 no 39 Vn OIH 2 (Hi ftW 13 (I! 09 K 2J M. 0P4 "! otw 1 4 V nn Yt 39 0IV4 V4 20U 13 0914 y. 1 1 1 ',4 1 1 1 V4 1 1 W tt 123 123 123 1034 S1Vt JnU " 40Ti. 49 4D9i ' II 43',4 3,1 33 Sales in Philadelphia AnncontU hoV'i 7014 7914 V Uchlson iojVs lnj,fc i no prer ns ns All tllrm A. All... 17 n Atlan llulf & W I..103 0ST Ilaldwln Loco Co,. .141)4 SI Halt & Ohio 7P 70 do prcf 71 71 llanett Co no 1 in Hethlchcm Steel.. ,13 13 do I! i:m jj iirooK liap Tran (-ii n iiiirns iiros US", . 43 20 . 1U "1V4 H.'Vi . :i.v . ooYi 80 14 124 4.'1. 20 1(11 n.iy, 3I. 50 ?! 70' utu & .sup top Cal Pctioleum . Can Pae . . Central I.eath tlo prcf ... . Cerio tin P.iseo Chesa fi Ohio.. Chi M & St P .. Chi & .111ti1 in ef my, 11 :i Vi 11.IV1 in 11 1 fc i' 2d tu 47 Mi lo )i inyi ii'its t (iijier .... 21 Clilim Con fop , , .i4j', Col I'uel X Iron .. 1714 Col this S. Ulcc 1.11, Con tl.is i: 1. a V 117 Con-sol t!as . . 11.114 ("out t'.iu 01 iH Colli Piodiuls . j.tn, do pier 11HI4 Ciuclblo Hlecl . til Ciilia Cnno Sugar J7"H nel S. Iliitlsiui . , 1 xi Den & itio t; pref. 3" Domo Mines Distillers Secur . Drlggs-Scabuiy . Ihlo do 1st pref . . Gaston Williams Gen i:iee Co . . . Gen Motors . . do pief Goodilch It V .. Gr.mby Milling .. Gr North prcf 2 J If. .-.I), 17 ll'i 117 11014 IMV4 2 1V, II M (II Vj III lil'H 3 J I3V4 7H', 27, 4 1 14 toy. oh 17 09 2V 1 Th 7U 71 110 ')' 1.1.' .. 122 ni') 04 121 1 n .. . 20 Kit Si m y, if. 111 2'4 31 (10l 1Vh 80 Il 14 K. fi.Ti 47'4 V4 4114 14 117 I Illli 1 01 1 23 .. . IIS Oi r. it), 11 Hi m II 14 HI 1.1 "it 78 U '), 2714 1 1 '4 H soy, t- 14 KU 14 10014 1 81V4 Vi lOTi. 14 8014 114 Protecting the Safety of Bonds Conservative invest ment houses not only , use the greatest care in the original pur chases of bonds they -v offer customers, "but also make a point of seeing that the se curity back of the bonds is maintained, and, whenever pos sible strengthened, up to "the time of maturity. , WiIIitmP.Bonbright& Co.,Inc. r wmo TOJSTAK HTttUUU. Jr. , Manager r 437 Chestnut St., Philadelphia niKw York usttsn H .. IJllldAn a WUlUro J". iJonbrieht & Co. Bonbrtght A Co. INlll'TniAI.S ma Am Ilrduulim 7(1 Am .Smmiti.i . . ...... Aetna i:ploslfcs Am-Uiltlsh Mfg Am Marconi Amerltan Wilting Paper Canadian Car Co . . . ,f Can Car A IMy prof .... Charcoal Iron Chevrolet Motois Cramp Cm tins Aeroplane Carwen Tool Cat lion Steel Kinorson Phonograph . . l'edcral Djo . .... Maxell S. Hatker Car .. llendco Mfg ICathotlion Uroas'o pief.. l..ikq Torpedo Iloat .... Lehigh Coal Sales I.lni 1 Loco Maxim Munitions Mat lln Arms N V Shipbuilding Nor Amcr Pap Pulp- . . . Otis Ucvntor Peerless Motor Poole Lug Pleito Anon Ilcddcii Tiuek Santa CctllU Sant.i Cecilia pref Sorlpps-Hootli S S Kicpo vv I Stantlaril Motors Steel Allojs Kuhmailuo St Joseph l.o.nl Todd Shipbuilding .. Triangle Film United Provt Shailng U S Steamship 41 United Motois 30)4 United Sugar 3(1 V4 World's Film Wright-Martin Air .114 Zlno Concent 2V4 hTAM).lltI'OIIi Illinois ;; Ohio 3(jj Pr.ilrlo Plim 30i Stand Oil of California. .280 Stand Oil of New Jersey. 017 Stand Oil of New York. SO J Yrs lrn. Illd Afknil (n Up) 711 7014 .. 2,1 24 .1 3'f, 2 8 12 214 21 1 .. V4 3 211 32 70 71 7 ,7 54 117 too UUV4 81 00 17 20 17 II 14 II). .. 78 ' 8,1 sy, ov4 10 38 38 V4 ,18 .11 31 32iy, 8 81 .11 24 80 31 1V4 00 80 1 1 14 to 21) .11 20 11 1104 8', 00 .17 214 00 12 0 ' OS 14 00 13 20 2(1 .18 10 I I 1,1 84 i.M)i:i'i:m)i:nt on. STOCKS Continued Illd Ahkrri (Hilt) Mcrritt (ill 24y, 2.1i Midwest Hcf 138 14U Met Petrol I V4 1 Ohio Fuel 10 21) Oklahoma Kef tiV4 1014 Osago Hominy n't 0 Itlco Oil ,', ., Sapulpa lief ut II Set luo ah iyt in West Lud O .L C. 1.1 20 -MIM.Sti STOCKS :ix 138 I). io o4 111 14 ii". 17 !7V4 83 1V4 18 81 1 14 5 31 3004 r 0 2y. 230 3(18 307 28S (IS3 297 41V4 1114 13 7J4 1" .1 31 30t)4 0T4 30S INIIKI'IINDKNT Oil. STOCKS Barnott Oil & Gas 214 Cusden Oil 13 Cosden S. Co 13V4 Llk Xiasln II Federal Oil 8 V4 Inter Petrol . ...1. 14 & Houston OH 21 13 13-J4 11V S')4 14 V4 2 J 2 13 11 1 14 214 8 nt 28 18 IYh 7)4 14 Alaska Standard Atlanta Hlg Ledgo Butte Cop &. Zinc, nutto New York .. Cahhbov Con Ai i IliniiM Consol 1 Fitst National Goldlleltl Merger . .. Goldfield Cons Goldlleltl Florence . . Goldlleltl Kew.inas . tlieen Monster Ilicla Mining IIowo Sound Independence Lead., Jerome Vei do Jim Butler Jumbo Intension. . . , Maguato Coppci MclClnley Dariagh.. Magma Copper Mother Lode Mines Co of America Nevada Hills Nevada Wonder Nlplsslng Uay Hercules S.in Toy Stewart Tonopah i:tcnslon 3 United Verde 311 West Hnd Con 7 White Oaks 3 White Caps 1 Yerlngton 37 HOMIS Ameilcan Smelters .... 0(1 Atlanta Charlotte Bs . . . 08 Bethlehem Es? 08 Cosden Oil Cs loo CoMlcn & Co Cs 10314 Cudahy 6s 08 Lrlo Cs 08 Kusslan Government 5'4s 80 do GV4s 1)4 Southern Hallway Es... 98 Sinclair Oil Cs 110 Todd Shipbuilding 6s ..101 N Y State 4s ,.v 105V4 10.114 New Haven 6s 9714 08 It) 12 314 l) 114 714 (l no 20 10 114 7 (I 10 ITm 7(1 41 80 47 47 li 33 1-7. 20 l?4 7 3)i 14 14 14 74 HV4 78, 28 1114 soy, 101 101 10114 !) 8114 81V4 40 4014 8014 80(4 11(11. I I ll'i IIOIC 1'. Gr North Ore subs 31 .id"), 30, .. .. Gulf Stnlo Steel I.'174 i-.it i.it 1 it lot lot lot .. . in), 401, in), , .10 .1.1 H, 11.114 . . 12 111', III', til'.. .VI II.Pi 113 1 1 IT- III 27 S, 2(1 80 30 07 14 41 7')i 38 )i 0714 II'., Illinois Cential lilt Agrlcul pref. Inipiia Coji .. Intel li-Cnns Corp do pref . . Int llarv of N .1 do i(f Int Mer Minim . , do pief lnlein.it Paper do pief ct . . , Int Nickel .. Kansas City So . 22 22 Kannetott Copper 4,1 4.1 L.u It Steel . 81 8I'4 Lacltdo Gas Hill, (ii)i, Lehigh Vnlle.v on (1114 Ma Motor . 1(114 14", do 2d pi .101, 30 Me Petlol 87 80 -, Miami Con Cop II'), ll'4 M. S P ov S St M 107 107 Midv.ile Slcel , .18 )4 ftx .Mo, K.m .S. Tex , 714 11a Mis P.uillc IO'j do vv I 3074 tlo pief vv 1 . . .1) Nat Ills-cult Il3h Nat Hnnl & Stpd 31 Nat Lead til) I I.I III 20), 77'), .10 0714 1 1 14 !i -314 - 14 r 14 1H 4 14 4 14 4.1 8114 4 14 Oil', 14 (1(1 ), 1114 114 30), , 14 !, II '4 107 1 .1814 ;a 42 41 13 1.1 314 314 014 14 2 1 14 8V4 714 2 113 I ' 1 'It do 1U 7.1 13 8i 40 .1(1 .11 214 2.1 1 7 4 10 " A .1 .1614 70 1 30 90 08 081, 10014 103)4 081)4 08 87 01 14 08 Y. 110V4 103 4714 31 14 114 30 on 08 85V4 03 Detroit rarU Vl,. - If I'M v. OuifRrmEY&Co t'.v' AUTOMOBILE BANKERS V., nv.. P. Ii . SbIbbAbU fe, .' , ' : -. ' , fA BStaruo- Offer special facilities for' In dlvidualaor automobllo deal er "to flnajice the acquirement f k pleaiure cars and for business houses to finance Um acquirement of coramer '- ttl emrs or trucks. .If van "t ..... . MautMcin or purchasing- tv mnr kma fop any ua TF1NNVTV ova trill wake a bstUr bust, twsaetteaier Yen.- . .-"' ' r'-i ' ." 1 L 1 'i ?,- ':-: m WAMSKLWKBSlSr'mmmmm'mm 712S; V BTSBTB&Xta-JLJ. Ikn' ? Ry SSBBBHHBBBBB. HK fIKIXI' " NEW YORK BOND SALES Illch. . Ill", H71, 01' 433000 Ansta.Krriuli .1 , SJtiiMl Am Forelsn fee as. moil Amer Tel clt 4 4110O la .'. Iiiihh) Ann Arbor 4n initio Arrauur Co 41j 8 ... 11 lit"! Atchison 4s .'.Will do cv 41 ....... 2(1110 Halt & Ohio 3Us .. .111000 do Its 117 S'lllOO do 4s M'4 2000 do rv 414" OPi -1000 Ilrookltn II T Bs 1018. HAS 11000 city of Uordraux Us,, nil". 20011 Can (lovt Ds 1VJ1 ,,.. 1111 mono do Ss Win ..., 117'. 33000 do .la 1H31 till -'(Mitj rent Leather 1st Ss ..100 4000 ChlU Copper Zliitit) cnes & Ohio 1110(10 Chi II & Q 10(11) Chi Jl & Ht l 4a.... 87 1(1000 do 4s 102.1 3 15000 do r(d 4Hs ,, 113 luoo no tony am ...,.,,1111 atnio uo Rfn.'a .... 2000 Clev Hh Line 414 ,. ltltlt! Col JIMIand ci 4s ,. 7200O City of Paris Cs ,. ' liooo Chi Rys Co Ss .,., 2000 Detroit United 44s 23000 Ills Bequr ("orp Ss . 381000 French Itepb 5Hs , 1000 Interb Met 4U 31000 Inter M't Mar fls,.., tcU imiti inierni 1 aer os...,,.iisi ..-. u u 4IHHH) lHJ Low. Close, Ill'i II4S H7 ss'; niis ll'i', r.ns r.n', 0.1 02 111 uo. 1111 loi" 111 tni-v; 87 out , DOS 0 (I la lis 07i IINH 100 117 llll. .in; 11.1 01 mi?; in UT 874 HI IIDi llllt 00. 1174 II8S IIIU r 7s .,..12 1204 12014 conv Ss . , no', un'i uou 4s Dili; DH14 ntiii B7 7 03 01 1)24 01 lot 101 ns us us , 08 UN 08 3 13 07i oHji 05 , 034 UJVi 11314 . 8114 81 83U i mil i loolt n.Mi l'-7 too .. nii ..looii W All loon f.lU 2 lull qo us.......,v...1001i JOOli lOOH JtpnmOBtli,,.., 7 70 70 Kan City Ho 3a..,,.,, 0714 074 0714 Lack Bee lis IOXoI, U8 oitj jg " ," w S7l. " J VI 1T nty'.of Ljons fls.o'' 4 00 j o lianeiiicsiis.." ' ibtn M,P 8 8 M,4i .. .t-..,. fi 0. K nn. HUM 8 80 M Hlsh. Low. Close. 2000 N Y Oas II & P 4a... RJ14 83b 8314 4000 do Cs ioHi 100 100 2000 N YNlls H 0s.,..101, WIS 1U1 B00O N Y ny 4 04 0J1, 114 ooiiu do 5s 32" T.X V. i. "te is uiiil,. ..iu.1,1 ,,MSl S Y lel en 4Vs.?l.. Oil, 1J0OO North I'ao 4a ....... 110 2000 do cen 3s tUVJ 70000 Ore S Line Is 1)0 2000 Ore VV It & N 4s... h. 11000 lao Tel S OH 172U00 Tenna iten vv I 414 s . . l)7'4 1J00O Pere Marquette w I Ss 041 iiuuu jteaains sen 48 a '14 loac, ioiIj 80 004 104 . . . no Ncv Con Cpr... . 2274 N Y Central. . 94'), N Y N II tc II . . 4.114 N Y O tS. V .. 23 Noif & West... 128), Ninth Pae I01I4 Ontario Silver ... B14 Ohio Kucl 4814 Ohio Ga.s 11.1 do rlKlitH (I Ovven-i Hot 01 Paclllo Mail .. . 2 1 y, Pcnn.i It 11 .... .1,1 V4 01, 114 28 .19 113), 14 .1.114 yt 50 2214 1)4 V4 307. 1 23 1- 128 U 10 114 14 17. 14 4814 Hi oy, 287, .10 113J4 33 Vt 1.174 "22 1)4 39 14 2314 12814 10.1', fl4 48V4 140)4 14 2 J Peo Gas S. V.. Pere Maui vv I,. Philadelphia Co . Pitts & VVet,t. ... tlo pief .. .. Pitts Coal ctfa . . Piesscd Steel Car. Pullman Pal Car Quicksilver . Ity Steel Spring do pref Hay Con Cop IteadliiR ... . Itep Iron & SUcl. do pief llosnl Dutch .. . .St 1,SF St L X. Southvv... Sinclair Oil Sh.tttuck Ailz ... Sloss-Slieft I . S Southern Pacific Southern It It ... tlo pref Studebnker .... Stutz Motors 81 2.1 3174 21-74 0274 43 7 I VI 5 04 2 1 V4 n.i 80 Si 14 3174 23 no 1314 7114 .174 01 14 2114 .13 81 H4 2.1', 31 14 23 I 1 1.17', 1.17 III 4.1 V4 74 V4 1.1714 2 Va 1, ', 4 0V4 07 '4 2014 00 80 10214 0J 10 20), 5.TH 2.1 U .11 9174 28 .10 8014 42V4 Tenn Con . Chem I7ti Texas CompKny ..2 1 1 ',4 .Third Ave It It .. .10 V4 Tobacco Products 03 V4 Ti.insuo & Wins.. 42V4 Union Paclllc 138 137 do pi 81 81 United Alloy Steel 44 4.1 Un Cigar Stores.. 1001 United Krult 130 4014 07 V4 29 01 70)4 102 (li 18 2074 is y, 24 y, .11 01 2814 5714 84 Yj 42V4 10V4 210 30V4 52 14 4114 14 49V4 07 Mi SO 14 .. .. 04 14 80 !', 102 0 2 f 14 10 2074 1 a.174 14 24 y, 7, oi 94 K, 28V4 58 85 14 7, 4214 10 14 210 .1014 03 ... , 41Mi 137 81 43 V4 100 10014 132y, 13274 4'4l U S Illd Alcohol .109V4 10714 108 U S ftuhber 69 RSYi 50 1 U S Sin &. Hct... 0.1 05 B.1 14 U S Steel 112 11174 111 74 do pr 117 11774 117 Utah Copper 112 110 111 y. Utah Sec Corp... 20 Va Car Chem.... 42-74 Wabntdi 12 do pr A 49V4 do pr n 25V4 West Maryland .. 2174 West Union Tel.. 06V4 Westlnghouse Mfff 49 do 1st 6814 Woolvvorth 13,1 Wheel & L n .... 17 do pref 3714 White Motors ... 4014 Willys Overland.. S0V4 do pref O0V4 Wilson Co 77 do pref .......103 0 4274 l' 12 14 48 25 V 14 8114 0014 40 6814 114 13274 133V4 IV. 1074 I674 74 37 " 37 46 46 2014 2074 74 0614 06V4 76 76 10.1 105 :o 4214 12 48 25 V4 M 00,4 49 68 I 11414 0414 0114 Dili r.ouil Ktand (las As 101 lllMl 13001) Kouth Hell Bs 08U 08 S 2000 Bouth Pao 4s 8314 8 J IS0I10 do cv 4s C1500 do cv Bs nooo South nwy 4s .. 7000 do Cs B00O Texas Co cv 6s 87000 U a rtubbtr ct Bs 0000 do Os 1000 Union Has- & P Ba :ihiu union I'au 1st n 14 831 l a 8.1'i 831 . .IUO III) .. I18H 11814 08 ..08 08 fix ..1034 1034 103H . . 811 88VJ 80 ..ioi4 1011 itii-4 .. 8814 8814 8814 vn vt 10000 U K of U II t I Bs.. 07K 0(114 1 001s 100 ,v 1018 ism nw..ioi 101 S 1011) H7"4 1I7K 2(101X10 do B 170000 do B 02000 do B 02000 do 614 a 1021 064 OAli 3000 v. Car Chem Aa . ...100U inn B0O0 West Electric IJs .,.,10014 100 12000 West Md 1st 4s ..;.. 70li 70 BOOO West Shore 4s 8.11 8.141 inono West Union Ba soli 0014 7000 Wis Cent ren 4s 8A 8A 1000 West Pae It It Bs .,.. 8li 8714 115 0(114 10014 101 07H oK 100 Inn ssal ooif 8A 87'4 with IT.t.f ..la. 4 RAI AAA J f S.S41.000 yesteriair, tbiis far MiU week. !5, ,e00 same perieal last wee. 4,77,00. Total salea, 497.100 shares, compared with 497,800 share yesterday! thus far this veeli, 2 KJ8.100 shares 1 sume period last week. 2,697,. 800 allures. Ex dividend: Cluett, Peabody & Co., 114, Hooven Automabc Typewriter Shares combine safety with the greatest speculative and income possibilities. Call at our officii for dtmon$tra tion or urife for full particular! BERGMANN & CARAHER 66 Broadway New York Boston Philadelphia rittsbursh C'lnrlnnatl Cleveland Chleaso J. B. Stetson Common Stock Hlsh. 1w. 7 Am Oas ..110 118 17 Cam Iron. 48 H 15 Kleo StorR- 6274 "SW 175 I.k Sup C. 20 20 28 l.eh Nav.. 70V4 " 6.1 1, V Tr pf . 4514 4SV4 300 Penna 11 It .1.114 "314 10 Pa Salt M. 04 0114 100 Phlla Co cum pf.. 3814 3814 153 Phlla Kleo. 32 32 48 Ph Itap Tr 20 20 580 do tr cfs 20 V4 28T4 It Phlla Trac 70 V4 7014 200 Itep Ir & S 80 80 10 rtay Cons. 20 2074 10 Heading... 90 0014 110 Ton Uel... 4 4," 110 Union Trac 4274 42V4 620 Un tl Imp. 8A14 83V4 Net Close. " 110 1 45 ..; 6274 Yt 20 '. 70V4 V 4.1V4-1 53 '' 0114 3814 Y 32 20 ' 2 29 Yt 7014 ; 80 Y 20 05 4 ? 4214 8oy Y 3810 U S Stecl.11274 111 1" 7(l 51 W N Y fi. P 22 22 22 100 War 1 & S 914 " .1 York llvvy. 14 HV4 HV4 Total sales. 0.173 ..hares, romnored "l11'.6;! shares jr-.tertlnu thus fur this SSiX. A. huresl snmr period last week, 41,810 shares. IMMS Net HUh. Low. Clost ihge. $1000 Am tl A. II c. n.l'. o1i nVI4 11. looo City 4h t" 10IV4 101V4 101V4 I looo liiit 111 tins 6i.l03V4 10314 10.114 2000 1-k Sup Inc 48 0774 0774 fis 48 .1000 T.ehlKh VrI cont fin 2003 ... 08 2000 Penna Co Ben 4 'is vv I .. 07 I oooo do cons I'5m . . 101 1000 Perklomcn 1st Cs . I00V4 100V4 10014 0000 Phlla Co let Hm ..101 101 14 10H4 4,1000 Phlla Klec iitw fps 101 V4 3000 Ite.itlliiK Ken 4s 0IV4 7000 Stand (i fi. l.'lec fis 102 looo Un Hvvy inv 6s. 60 48 0T 101 101 01', 102 09 101 V4 101 14 14 oil, 14 102 60 Tolnl sales. $88,200. compared with SOI. 100 M-ltrthiw thus far this week. 8338,1001 sume ix-rlnil lint week, $177,120. Local Bid and Asked Today Yesterday Hid Asketl Hid .Vsked llalilnln I.ocn . ... .14 Oil? .11 B1la Prill JO ... 21 .) 21 211 lluft d Susq to.... BS 1.0 BS 1.0 do pftl .12 .11 .12 .11 lllettrk HtoraRf ... . (12 (II 112', '.I1, llcnrrtil Asphalt . ,. . . . 2.1 21 21 21 tlo pM '..,. i.l ill i.l l Keysltino Tel U'i 1.1 12'i 11 l.nk. .sun Corp 1J 20', 1114 20 l.thlsh Nav 7sla 70 78 70 Lehigh V.ll 1.1 1111, HI 1.1'a thlkh Val Tr Jl'i 2H1 21'n 20 tlo pf, 41 114 ll'i II IVnnii It It . . .11 .ll'i .11 M's Phil 1 l.ltt .. .114 32 31"4 .1-' Phlla Co . . .Il'a il 31 .til tin .1 in r tent iifil 11 37 .11 .17 tlo (I per lent pfd is as'j 3s :is4 I It '1 t c . 21) 211', 20', 20 ' llenillni; 11 1 111 in' li"i 'Itinnptli Ililmont . . 4'4 ) I', ls TnnoiMh illnlns . H'7 ll1. I.'i Union Triiitlou I.", 4J'; 424 4 1 T CI I . Ml'4 Ml' M'J 814 I' S Sleet .Ill's 11J 111 Ill's Vtirk lt . .144 114 144 114 lo pftl . 37'i .IS'4 .174 3S4 Win crump t 1 .87 t-n t.7 Ml MONEY-LENDING RATES M.tV lOKK Cnll money opened nt 2'5 per lent ; high, 3 ; low, 2V-4 : last 2-1, ; closed, 2',ii2; rulitiK rates. 'J'f. per cent. Hates for tlmo money on cood mixed Stock Kxchaiifio collateral are unclnnced, at 3 j (!? I per cent for 00 dajs, 3J4 4J4 per cent for 00 dajs, 4 per cent trading rato for four months nnd 4 4 '4 per c'nt for Ilva and six months. Industrial loani are quoted 14 to V4 per cent higher tlian these figures. Prime hank acceptances are unchanged at 43'2 per cent for Inellglblcs nnd 3 .1-10 iff 2 'J, per cent for ellgibles. PIlII.ADni.I-IUA Call, 3'J per cent. Time, I'jCS per cent. Commeiclal paper, three to six months, 4',44?4 per cent. FOREIGN EXCHANGE NCW YOUK. April 19. The foreign ex change market In the early dealings today failed to nhovv any Improvement In respect to activity. There was very llttlo of In terest bejond a moderate Improvement In lire and lublcs and an easier turn in guildcis. Quotations were: Demand sterling, 4.75 and 4.7574 ; cables, 4 70 ; sixty-day bills, nominally 4.72 ; ninety day hills, 4 70. Franc cables, E.70'4 ; checks, 5.714. Lire cables, 7.07 ; checks, 7.08. Swiss cables, B 0874 1 checks, 5 0914. Guilder-cables, 40; checks, 404." Ituble cables, 28 02 ; checks, 28 53. Pestas cables, 21.60; checks, 21.40. Stockholm cables, 30.35 ; checks, 30. Chrlstlanla cables. 29.70; checks. 29 50. Copenhagen cables, 28.70; checks, 28.60. BANK CLEARINGS Hank clenrlnss totlny compared with corre spondlns da last two ears . I'".'. . 1010 101B i ." ,.: f.zi n v.i mm. 'M 2?.8i:..Rs "r" SWIIUS ,!- ,, Ki it IlalttmnrA Ht, Louis . unit 1 )i oi,i 1 un'i n.N 'i.HS' 24.s27.8oj 1.1,21,0 821 '..'.;;;,';. New Haven to iBsue 1'referrcd Stock NEW YOltIC, April 19. Tho New York, cvv Haven and llartfoid Itallroad has ap plied to the Connecticut Legislature foi permission to Issue $50,000,000 new 7 per cent cumulative preferred stock. Tills ac tion was in line with tho general expecta tion, except thnt tho rate and the cumula tive featuro may bo more burdensome than was expected. After You Sign a Market Order for the purchase of a stock more than a hundred opera tions must be attended to be fore your order becomes a completed transaction. How these details are handled bv b'SoeYet?t,lU,ead!!Pla,ne'1,ni: "The Course of an Order" The process Is an interesting one and you should read it. Ask for Booklet 8U-T, U. JONES & BAKER STOCK BROKER! - Widener BIdg., PhiUdeWii. Bell. Wtltat I901. KexttoM, Rsee 1200. JJfJ Trtt Rostra Chleaso PIttsbaraA Otnwl MMSt Wires JONBS 4 BAKER, Widener Bldg., PhlladtlpMa, Pa. XXX "Jf' "" " your booklet entitled "The Course of an qrder." 8il.T. U. Nam' , Addren ,, CUv..... stat mifiTNESS IN STOCKS REMAINS SMALL; YORK RAILWAYS EARNINGS ARE G00 Movements of Prices Narrow Midvale Steel Securiti x 1 s t 1 -m..'l.nein iV.vnopf. nvPPHIIlScipPiTvfin. ft Liiscea on LiOcai juAciictuc xv v v . .Uvwj,HU11 of Government Bond Issue Trading on the Philadelphia Stock Ex change did not show tiny change to speak of during the vvholo wasltn today. As has been the customary thing in tho last week or ho, the movements In prices were narrow and the changes were entirely vjitii out Importance. With the exception of tne York Itallwns Company earnings stale ment for March and four months of the fiscal car, there was no real news affecting the general situation. Tho statement r.f the Yoik Hallways showed 11 continuation of the favorablo earnings which have been icported from month to month, hut the statement una without effect 011 the compan'H stock. It was not until into In the afternoon that nny of It was sold; then live shares of the com mon stock came out at a loss of 11 half point, I'or tho month the gioss gnlncd 18239. reaching $88,IC5. while the net was $49,900, nn Increaso of $3383 Gro3 for four months utood at $358.1 2fi. nn Increase of $39,38.1. and net was $200,912, nn In crease (f $20,019 Hiving consideration to the trading In stocks, United States Steel common 1 on tlnued the most active, and It was stiong all through tho day. at one time being up moie than 14 points Philadelphia It.ipld Transit trust certificates were lower on light trading, while the uiiaentcd Rtock sold nt 29, a lots of 2 points, as compaietl with the last previous sale In the latter pait of Match The hinallcht tiadhiK took plate hi Lake Supeilor that has been icioided for some time, but It was a fraction hlghet. On the other hand, the Lake Supeilor Income 6 per cent bonds ot t points, selling nt 48 The action of the governing committee of the Stock i:change In listing tho $100. 000,000 stock of the Midvale Steel and Oid nance Company and the $(j T,1R.00il con vertible sinking fund collateral tni-t 5 pel cent bonds was expected They were first listed on the New Yoik l.NCliangc, ami by icason of this tiadlng was peimlttcd in them lieie In the unlisted department. Hut with the oflltlitl lifting of them on the local board, trading can be can led on tho tegu lar way. Neither the stock nor bonds hold all through the session. How tho whole financial dlstilct Is wait ing for the flotation of tho Government bond issue is well illustrated by a conv ertat Ion which took placo between an Investment banker and nn Investor today. The banker Inqulied whether tho Investor had received a recent cltcular which had been sent to him offering a list of bonds. "Yes, I re ceived It," the Investor replied, "but I knew that ou did not expect mo to do nn thing as long ns tho Government bond Issue has not been Issued nnd taken up; and, therefore. I did not take any steps to buy any of the bonds." This is tho straw which goes tq ( tbnt the Govel nmont flotntlnn w.in 1.. . .' ..... ...,, uQ rapidly, nnd the general expectation is thuj the Issuo will ho obersubscrlbed. The fej" Ing of tho Investor, told above, Is geni-ill f lit nllL.bnnt tlin uhnln flnnnrlnt f1ln..i. .1 .... .. ,.,.ulllu A j one having Idlo money is holding it reafj.'' to pl.ico it nt tho i-crvlco of She Goverti.,! Sk.4ASaS ( Tttt.A llt-ASl! l.JllltiM ft.!.. tl ,? lilt ill. .i .jiiu .mm. iiuuoo iwuuy h Was gaji'l that tho dcmniid for bonds, particulars .1 the, last few dnvs. has fallen to ujnlnlniiujf'i nun in mis iiiumj u was said that w i mora bonds were being bought for (S..1 . d Odd Lots In the buying or selling- of odd lots we give the same careful attention we exer cise in the execution of larger orders. Armiti Brown & Co. 1424 Walnut St. Members New York Stock Exchange Philadelphia Stock Exchange New York Cotton Exchange Chicago Board of Trade - Odd Lots Stocks Grain Unlisted Securities The same careful attention given to small lota as to those of larger amounts. HUGHES & DIER ,, . Phila. Stock Exchange Members Chicago Board of Trad, 143S Walnut Street Philadelphia WAR ISSUE U. S. GOVERNMENT BONDS We take pleasure in offering our services, without com pensation of any kind, to receive and forward sub scriptions to these bonds, at tending to all details, includ ing deliveiy of bonds. HARPER & TURNER Investment Hankers 1000-1012 Stock Exchange Building Philadelphia mmmkmm The K- The Kev to Sound Investing z America's War Resources We have just prepared for the bene fit ofour clients an exhaustive exhibit of the wealth and income of the United States, including full compari son with all the large European Nations. This exhibit should be of profound interest to the banking and investing public. A few extra copies are available. Sciiti for Circular No. 135 Moody's Ivestors'Service JOHN MOODY, President 35 Nassau Street',NevYork Ummvmmmmmmmummn tnmmmmmm.'. mm Mmmwiiiiiffiimiii H Knitting Trade News in tomorrow's PUBLIC &LEDGER Business Section ru , SPecial Articles Me8a!e lf?,siery & Underwear Wholesale Silk Market i Pennsylvania Mill Conditions Read" Evans Letter for latest Western business News Financial Newa m I -m M ?l Ki Ul sHsssBBbHHbbI. 'JES "IfH ?aJ r eat I We offer J5 shares or any, part at 867 onutOTOMf or Accoturra. M..lli 1 aM- 128- Have the Ledger delivered to ' ,ftl LVVIUMt'lH.W'i .$ V . .. Jtwrn ..m-vti..