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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 .
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