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MHUNMB A COMPANY
;'" lITTMUR', CINCINNATI,
'CHrCAOO.A ST. LOUIS It. R.
J WnTCLIDATID aB
SERIES A A B
. '1940 A 1942
V "4 rnivB iw nei .s's
l-V
'X PENNSYLVANIA RAILROAD
4 QENBRAL 4tt
T , 1968
PRICE, TO NET 4M
PENNSYLVANIA COMPANY
COLLATERAL TRUST 4t
1931
PRICE, TO NET 4.70
)
REILLY. ROCK CO.
BANKERS
2M CHESTNUT STREET
PHILADELPHIA
. - i )
P'FINANCIAL NEWS"""
PRICES VARY AS SPECULATORS SHIFT
THEIR POSITION ALL THROUGH THE DAY
Moderate Gains Are Made by Some Stocks at Start, but
Room Traders Soon Make Bearish Demonstration
and Losses of l'to 4 Points Are Made
High Points in Today's Financial News
Professional element controlled movements of stocks in Wall street.
Some stocks made moderat-e gains at start, but recessions followed. Some
issues strong on Curb, while others were pressed for sale. Wheat ended ir
regular, after being higher. Cotton lower. Call money reached S per cent in
Wall street. More gold sent to Cuba. Bar silver lower. American exports
itt March reached a total of $551,278,000 despite German submarine cam
paign, and imports were (270,480,000, a new American record.
Canadian Pacific
Railway Co.
6 Notes
Interest March and Sept. 2
Due March 2, 1924
Price at Market
Yielding about 5.75
Descriptive circular
PE-113 on request
The Nationality
Company
1421 Chestnut St., Philadelphia
Sew Tors Obictfo Sin Frtneltco
Boston lMttsburis
COPPERS
For the Information of those Inter
ested In the New York Curb Market
we will furnish reports on the following
active copper stocks:
Calumet. & Jerome
Consolidated Arizona
Jerome Verde
Magma
Magnate
New Cornelia
Ray Hercules
. United Verde Extension
Direct private wire to New York Curb
Continuous Quotations' in our
Board Room '
Hughes & Dier
Member. JJlix""
1435 Walnut St, Philadelphia
' 115 Broadway, New York
Woolworth Building, Lancaster, Pa.
QijnRcnney
X CoMRANY
AUTOMOBILE BANKERS.
Offer special facilities for In
dividuals or automobile deal
ers to finance the acquire
ment of pleasure cars and
for business houses to finance
the acquirement of commer
cial cars or trucks. If you
are thinking of purchasing a
car of any kind for any
purpose the FINNEY SYS
TEM will make a better busi
ness transaction for you.
REAL ESTATE TRUST BUILDING
PHILADELPHIA
E. . Delp Grain Co.
GRAIN
Bipert an Domesti. FDTUBE3
Correspondents
BASTUSTT. FRAZIEB CO.
CHICAGO
453 Beam, Philadelphia
Private wires all Grain Markets
Membera Chicago Board Trad
ftECKERfCb.
BANKERS
and
W aijvr.' ww. BR0KER8
. oth . chestnut STB., N. E. Cor.
13 Msmbers of. Phils, stock Exehanae
Direct- wire 10 new york
Saabaard Mr Ltna
1st Cawaal. . M. S., 1945
REED A. MORGAN CO.
WEST END TBUST BI.DO.. PIIILA.
Mewl-ra ef th rhlla. Stock Khsnie
IXOAV ADVERTISEMENTS
IfiSTATE 07 THOMAH B. nirKKn hit.
ease Letters testamentary on the
maatata having. been aranted to THK WEST
IUDSLFH1A TITLE Jr TRIIHT lnuDlMT
I FRANCES M. BURKE, all persons Indebted
Uno;a4d estate ara requested to maka
kyiaent. and thosa having- claims to preaent
i"c wiinoui uiar. ai ina omce or said
Kh'.tr r ""
, r 'A. i.rwooD.
president, i
tam-'Wi GOTTLIEB STAPT. DE-
l -iri k
haen rr
rr w m. nt
Indabted to tha said aetata-era re-
XBW YORK. April 23.
The stock market movements were nBoln controlled today to a frreat
extent by the professional trading clement on the floor, and prices varied con
Btantly ns those speculators shifted their position. Somo stocks made modcrnto
Knlns at the start, but gavo way when the room traders made a bearish demon
stration, and a number of issues sold down from 1 to 4 points. This movement
ended quickly, however, when It became apparent that tho traders were simply
adding to tho short uccount, nnd aggrcHBtve buying by a few of tho large room
traders then started some hurried covering, on which vigorous ndvances were
made, only to be lost later on.
United Stales Steel common advanced to 112 after frequent rallies nnd
recessions, against 111 on Saturday, but did not maintain this gain for a long
period. The Street was full 'of talk about uncertainty over tho dividend out
look tomorrow. Offers were made to wager one to ten that action on tho extra
dlvlderfd would be deferred. Some bets wore made that tho dividend declaration
would bo the same ns In January, and C. M. Schwab's brother made one bet
that the dividend distribution for the quarter ending March 31 would be $5 a
share In all.
The copper stocks, as a group, were under bear pressure all through tho
day, with some of these issues selling nt the lowest record made so far this
year. Utah Copper, which sold at 110 early In the way, dropped more than
3 points, and substantial losses were sustained In Kennccott, Anconda, Ameri
can Smelting and Inspiration.
Tho railroad stocks were fairly well held. Reading sold ex the $1 quarterly
dividend at 93'4, n loss of , but later advanced to 94'i. General Motors on
the covering movement advanced from 100 to 105, followed by a. quick drop
of moro than two points.
Tending was on a fairly large scale In the bond market, but with most of
the business concentrated In the foreign Gocrnment Issues, with the Anglo
French 6s dealt In In large blocks at around 94 o 94g.
DIVIDED TONE IN TRADING ON CURB;
SOME UP, OTHERS PRESSED FOR SALE
f ,
NEW YORK, April 23.
There was a divided tone to the trading on tho Broad Street Curb today, with
some Issues In good demand and displaying strength while others were pressed
for sale, with United Motors attracting attention by dropping from 31 to the
new low record of 29.
Everett Hcany & Co. was one of the strongest features, being In good
demand at 22. News that a new well brought In on the Pemberton leaso of
the Atlantic Petroleum Corporation, making 3,000,000 feet of gas, caused active
trading in that stock, ranging ftom 7i to 7. Aetna Explosives was steady
with sales at 3 and 36.
Submarine sold at 21, Air Reduction at 68 and 69, Todd Shipbuilding at
85 to 87 and Marlln Arms at 83. Mining stocks were Irregular, Magma dropping
from 47 to 4G, while Consolidated Ailzona was actively traded In up to 2.
Magnate held strong, with sales at 80 to 81 cents. United Verde sold at 3674,
Big Ledge nt 3U and 3. Ohio Oil sold at 360 and 357.
The Russian bonds were strong, with tho 6s traded in at 95 to 95 and
the 5s at 88 and 88. Buying of Rex was of good character on the announce
ment that the mill is treating 150 tons in twelve hours.
IM1UNTKIAI.S
y
"hi.
' Hlrt.
Am Reduction n
Am Stores 37
Am Sumatra 2"
Aetna Explosives 34
Am-Brltlsh Mfg
Am Marconi . . 2
American Writing Paper 3
Canadian Car Co 20
Can Car & Fdy prcf . ... 70
Charcoal Iron 7
Chevrolet Motors 04
X5
IK
11
80
40
37 Vi
32
1
7
85
34
3
Cramp r
Cui tlss Aeroplane .'
Cai wen Tool
Carbon Steel
Emerson Phonograph . .
Federal Dye
Haskell & Barker Car. .
Heudce Mfg
Kijthodlon Bronze prcf. .
Lake Torpedo Boat. ...
Lehigh Coal Sates . .
Lima I.oco
Maxim Munitions
Marlln Arms
Sat. close.
Anked. (sale)
St. i lose.
AUpd, (Rle)
(18 OH
3R 37
24 20
te ..
12
8
4 3
32
74
7"i ..
100 07
00 HO
S3 17
11V4 11
N Y Shipbuilding 30
Pulp.
Nor Amer Pap
Ots Elesator . ,
Peerless Motor
Poole Eng
Redden Truck ,
Santa Cecilia . ,
Santa Cecilia pfd S2
Scrlpps Booth 20
S S Kresge w I 10
Standard Motors ........ 1ST
Steel Alloys 7Ti
5
eo
12
7
ID
24
Amm hjtf vr.ntMl tr. frt .MrtyBi.
uktxmI, -. ..'n. iet2.e,fi
rwt-MJt. 4wvmsi . inyov tUHTAni,
"take
a parmant, and those bavins'
it Oie aama. without dalav, at
'ipofPPaw'i 8. W. corner Lan-
r aaia-c-ojapanrj
.and fortieth at
TJr" ' fo A V t rW . fraatifnt.
DIVIDEND, NOTICES
BH l, I I -" . TT . . 'r r . .' ""
wM&B
BBWBBTeBaaa. a. faaAanaSSSTYlS: anaaal .RvMM o I
BbBJBWK7 - A. X, JTOsjl)'. .';.'' !lM.,.aJL. Hfi9M
bbbbbbbbbbbk&. naBBHaao cjBaaaai ara jawaBBaaaaf n
BBMJWgg-Sg2- BI
BBTaTaTaTaTaTaTaVEBTaiiisVaTawV f ;- - anaBaaaaaaai' a
Submarine Boat 21
St Joseph Lead 17
Todd Shipbuilding 7
Triangle Film IVi
United Profit Sharing ...
U S Steamship 4T4
United Motors 30
United Sugar 38
World's Film V
Wright-Martin V4
Zinc Concentrating 3
STAND Aim OIL
Illinois 24 230
Ohio 880 380
Prairie Pipe 20S 305
Stand Oil of California.. 275 280
Stand Oil of New Jersey. 30 640
Stand Oil of New York.. 280 203
INDEPENDENT OIL STOCKS
85
0
38
34
2tt
V
00
36
2
87
42
5
62
15
no
20
28
67
40
114
14
8
22
17
83
1
5
30
36
Ta
A
3
INDEPENDENT OIL
STOCKS Continued
Sat. close.
Hid. Aokcrt. (Kale)
55
2M.
80
I8i4
11
14
17
i
fi
30
38
74
8
24
Barnett Oil & Oas
Cosden Oil
Cosden & Co
Elk Basin
Federal Oil
Inter. Petrol
2
13
13
10
13
2
13H
13
11
5
14
226
363
301
285
650
2D0
2
13
13
11
13
Houston Oil 18
Merrltt Oil 23
Midwest Ref 136
Met Petrol 1
Ohio Fuel 10
Oklahoma Ref 10
Osage Hominy 0
Rice
Sapulpa Ref 10M,
Sequoyah 1
West End Oil & Gas .... 12
MINING STOCKS
Alaska Standard 80
Atlanta 12
Big Ledge 3
Butte Copper & Zinc... 8
Butte New York 1
Cashboy 7
Con Ariz 2
Emma Consolidated .... 1
First National 2
Goldneld Merger 6
Uoldfield Cons 58
Goldflcld Florence 27
Goldneld Kewanas 15
Green Monster 1 TV
Hecla Mining 7
Howe Sound 0
Independence Lead 104
Jerome Verde 2
Jim Butler 70
Jumbo Extension 40
Magnato Cop 80
McKlnley-Uarragh 46
Magma Copper 45
Mother Lode 33
Mines Co of America. . . . 1
Nevada Hills 15
Nevada Wonder 1
Nlplssing '. 7H
Ray Hercules 3
Stewart
San Toy 14
Tonopah Extension .,... 3
United Verde 36
West End Con 68
White Oaks 4
White Caps 1
Yerlngton 33
f DONDS
Amer Smelt 5s 05
Atlanta Charlotte os , . . . 08
Bethlehem Steel 6s . . . . . 08
20
24
130
14
20M.
104
0
10
1
15
10
24
138
io4
0
ft
10
1ft
15
52 50
12 12
3 3
0 0
t 1
8 8
2 2
14 1ft
2 2
8 6
63 54
28
18 17
1 ..
' 7J
6 ..
12 13
2ft 2
73 72
43 41
82 81
60
47 40
35 34
2 ..
25
2 ..
7 ..
3 8
ft
16
8 . 3ft
36 36
75 75
1
35
Cosden Oil 6s
Cosden & Co Os
Cudahy 5s
Erie 5s
Russian Gov 6s ...
Russian Gov 6s ...
Southern Rwy 5s
Sinclair OH 6s
Todd Shipbuilding 6s
N Y State 4s
.100
.103
. 07
. 884
. 87
. 04
. 98
.110
.101
.105 105
05
08
8
101
104
08
98
88
05
984
110
103
1ft
35
084
98
08
88
94
New Haven 5s 07 08
DROP IN LOCAL SURPLUS
Philadelphia Bank Statement Shows
Decline of 35,875,000 in Week
The outstanding features of the Phila
delphia bank statement this week were a
decrease of $5,875,000 in surplus and a
decline of $6,861,000 In reserve held. At
the same time the deposits of banks dropped
$5,411,000 and the Individual deposits fell
S71.00Q. Loans Increased $1,229,000.
Details follow:
April 23. 1017. Decrease April 24, 1016
-v.utm iBua.iau,(iui
Ti.umi
Loana $5oL4S.OOO 11.31
Depts una), fwo.osz.uuu
Circulation 8.220,000
Due fribke 100,820,000
Dep of bka 187,140,000
EX Clear H 24.900.000
Hesv held . 114.784,000
Res'reqd,. 88.548.000
Surplus .... 81,186.000
Increase,
4.000
344.000
5,411,000
1,480,000
6 601,000
986,000
5,875.000
508,
486.0O3.OOO
0,626,000
79.070.000
184.889,000
22,843.000
115.113,000
76.084.000
37,070,000
Surplus April 26.
114. 1 17.526.000!
April 2. 1912, 112.00
1015. I85.181.000r Anrll ST
April SI. 19IC. 17.241,000:
v
.000.
PBANKUK NATIONAL BANK
'.' ' x'JMlladelBila. Aorll 2S. 101T
i r - -..: i-i.-mI i- . " ,
tnlajdar-declared a aeml
Ja.kaatfawH April SO.
, SAKDT. Cashier.
FOREIGN EXCHANGE
NEW YORK, April 23. The foreign ex
change market opened quiet. Swiss, rubles
and Stockholm were easier, while lire show
ed a gain of about 4 points and French
exchange and guilders held steady.
Quotations were;
Demand .sterling 4,75 11-16, cables
4,76 7-16. Sixty-day bills nominally 4.72,
ninety-day bills 4.70,
Franc cables 5.70, checks 5.71.
Lire cables 6.90, checks 6.91,
Swiss cables 6.12, checks 5.13.
Guilder cables 40, checks 40 ,
Ruble cables 28.68, checks 28.60.
Pesetas cables 21,75, checks 21,60.
Stockholm cables 29.25, checks 29.
Chrlstlanla cables 28.70, checks 28.50.
Copenhagen cables 28.50, checks 28,30.
MONEY-LENDING RATES
NEW YORK Call money opened at 2
per cent; high, 3; low, 2; last, 2;
closed, 2 3; ruling rate, 2 per cent.
Time money on collateral was a Bhade
firmer, with the asklnr figure for four
months on good mixed raised U to 44
per cent, as against trading at 4 per cent on
the last full business day of last week.
Otherwise quotations were normal at
'8 9i Pr cent for alxty days, 3i 4 per
cent for ninety days and 4 4 per cent
for, five and six month. Industrial loans
were also a shade 'firmer. '
Prima bank acceptance ware) .unchanged
for. Ineligible at-4y per oeot, .Eligible
war quoted at IVitJJ per cent,. compared
New York Stock Sales
AJax Rubber 70
Alaska Gold M... 8
Alaska Juneau . .. 6
Allls Chalmers ... 24
do pfd 83
Am Beet Sugar... 02
Am Can 44
Am Car & Fdy Co 65
Am Hide & h ... 13
do pref 61
Am Ice Sec .... 23
Am Linseed 204
do pref 56
Am Malt 104
do 1st pref..,. 60
Am Smelting 08
inch, Low,
do prcf
do pref B .
do rets ....
Am Steel Fdy
Am Tel & Tel
do 1st pref
Am Tobacco
Am Wool ....
Am Writ Pnp pf , .
Am Zinc & Lead , ,
1134
. 04
. 94
. 58
.124
. 45
.187
48
42
30
Anaconda ,.,,,,, 78
Atchison 102
do pref 06
Attan Blrm & Atl. 16
Allan Coast Line. 114
Atlan Gulf & W I 08
Baldwin Loco Co 82
do prcf 0074
Baltimore & Ohio 76
Barrett Co f pd,. 1074
Bethlehem Steel., 130
do B 118
Brklyn Rap Tran. 65
Brown Shoe Co... 67
Burns Bros 121
Butte & Sup Cop. 42
Cai Petroleum . , 20
do pref 504
Canada Pacific ,,161
Calumet & Arl... 77
Cent Leather .... 884
Chandler Motors. . 93
Ches & Ohio 60
Chi Gt West 11
C M & St P 80
Chi & N W 114
Chi R I & P 2d pf 45
do 6 p c pfd w I 60
Chill Copper ... 224
Chlno Con Cop. . 52
Col Fuel & Iron. 40
Col Gas & Klcc. 44
Col & South 1st pf 55
Consol Gas 111
Cont Can pref ..100
Corn Products.... 24
do pref 98
Crucible Steel 60
do pref 107
Cuba Cnno Sugar.. 40
do prcf 01
Del &. Hudson. . ..123
Dome Mines...,. 13
Distillers' Sccur. . 13
Drlggs-Senbury .. 78
Erie 27
do 2d pref . . 32
Gen Electrical Co 102
General Motom 105
do pref 87
Goodrich B F ... 48
Granby Mining .. 70
Great North prcf. 100
Gt North Oio subs 30
Greene-Can Cop.. 40
Illinois Central . .103
Inspiration Cop... 84
Intcrbor-Cons C. 10
do pref 60
Int Harv of N J.. 1124
Int Harv Corp.. 80
Int Mer Marine. 204
do pref 78
Internl Paper .. 38
do pref ct .... 07
Int Nickel 41
Jewell Tea 53
Kelly Springfield . 62
Kcnnecott Copper. 42
Lack Steel 83
Lake Erie & W... 18
Lehigh Valley .... 66
Lee Rubber & Tire 20
Max Motor 49
do 1st pref .... 66
do 2d pref 31
Mex Petrol 80
Miami Con Cop... 41
Minn & St L new. 19
Mldvale Steel .... 56
Mo Kan & Tex. ... 7
do pref 14
Mo, Pac w 1 28
National Biscuit ,112
National Lead ... 54
Nevada Con Cop.. 22
N Y Air Brake ...137'
New York Central 03
N Y N II & H.... 40
Norf & Wept 128
Noa ScotU Steel.. 90
Ohio Fuel 48
Ohio Gas 137
do rights s
70
..14
"6
24
81
92
48
61
13
61
25
20
53
0
39
07
1184
04
04
56
124
45
184
47
42
80
74
101
08
18
Net
w, Close, chce.
70 1
, 7
6
24
83
02
44
63
13
81
25
20
68
10
50
08
1134
04
2
14
94
68
124
43
187
48
42
30
75
102
08
16
1
a"
113 114
1
4
Owens Bot
Pacific Malt
Penn R R
Pea Gas & C...
Pitts & West....
do pfd
Pitts Coal ctfs..
87
22
63
81
24
82
414
Pressed Steel Car 73
Quicksilver 2
do pref 2
Ray Con Copper. 20
'Reading 94
Rep Iron & Steel. . 80
do pref 102
Royal Dutch .... 62
St L S F w I..,. 10
St L & Southwest 30
Sinclair Oil 65
Seaboard A L. ... 14
do pref , 31
Sears Roebuck ,,173
Shattuck Ariz .. 25
Sloss-Shef Stl & I 45
Southern Pacific. 04
Southern R R ... 28
do pref 68
Studebaker 86
Stutz Motors ...'42
Tenn Cop & Ch. 16
Texas & Pacific .. 15
Texas Company.. 200
Tobacco Products. 62
Trans & Wms. ... 41
Undwd Typew Co. 99
Un Bag & Ppr new 7(9
do pref 11
Union Pacific ....137
do pref 80
Utd Cigar Strs prf.119
United Drug 2d pr 00
United Fruit 135
U S Express 10
U S Ind Alcohol,. 106
U S Rubber 68
do 1st pref.... 106
U S Smelt & Ref. 85
do-pr 49
U S Steel 112
do pr 117
Utah Copper...,. 110
Va Car Chem.... 42
Va Iron C & C... 64
Wabash pr A. ... 49
do pref B 24
West Union Tel.. 06
West'house Mfg., 48
do 1st pref .... 68
Woolworth 182
Worth P&M pfd B 83
03
62
90
78
107
125
114
61
07
120
41
10
40
1004
77
824
06
00
11
80
114
45
60
21
504
464
43
65
111
100
23
98
50
107
43
014
122
14
124
78
26
32
162
100
86
47 T4"
70
109
30
40
10.1
62
10
60
1124
7
23
76
38
07
40
52
514
41
83
18
65
20
46
66
30
85
40
10
36
7
14
28
112
51
21
135
93
40
127
90
48
131
4
83
21
62
80
234
62
41
72
28
03
78
102
62
10
20
84
14
31
173
,24
43
03
28
06
52
99
76
107
130
118
65
67
121
42
2
3
74
14
2
10
60
160
77
83
95
60
11
80
114
1
2
Vi
45 1
60
2t 74
51 1
46 4
44 "4
S3
111
109 1
24 4-
08
60
107
45
91
123 1
13
12
78
27
32
162 J-
104 2
86 '4
48
o V
109
30
40
103
S3
10
60
112
80
25
77
38
07
41
53
51
42
83 14
18
66
20
48
66
31
86
40
10
66
7
14
28
112
54
185
93
40
1
1
1
1
127 1
00 4
48
130 74
83 4
22
53
80
24
82
41 4
1
72
2
28
03
79
102
62
10
29
55
11
31
178
25
45
4
24
2
03
28
Wheel & L E
White Motors
Willys Overland,
do pref ......
Wis Central . . . .
Wilson Co .....
16
45
20
95
47
76
58 68
88 85
42 42
16 16
18 15 1
207 200
1 81
41 41
00 99
88 88 1
11 11
136 136
80 80
119 110
90 90
133 133 1
10 10 1
101 105 14
87 . 67
106 106
SS 55
40 49
110 118
117 117
107 100 1
4V 42
04 64 J
40 40
24 24
96 96
47 4
08 68
182 132
83 S3
" 18 .....
48 45 ....
29 29
95 95 1
47 47 4
74 75
..Total sales, 300,600 shares, compared with
646,700 share laet Monday,
Ex-dlvldend Readlnc, 11 Incersolt Rand, 20.
BANK CLEARINGS
Dank ctearlncs today compared with corra
nnnnrilnir day last two vaarat
1017. 7 1910. 1011,
Fhlia.
New
Rnaton
Chlcaso .... 86,984.815 68.404.083 47,404,58
H, 1OU11... .O.UB(,U ll,tlO,OIO U,B0T,031
jhit. miu. lun.
a 54.475.6th 42.207,103 S20,33ll,Ala
York,..388.H0,633 287,810.885 212.541,620
on ..... 82.185,711 26,610,884 18.140 576
DIVIDENDS DECLARED s
.Massarhustt'Mlnln Csattr II per share,
pezaMej rmr..i.w aiw w laavw .
Paaiafella Uallaaal. HaaBI . MASIUi
Sales in Philadelphia
Net
chftf.
High. I.ow. Cloe
66 Alllanc Ins 21 21 21
8 Am Ry pf. 04 94 94 .....
33 Elec Stor. 63 62 62 J4
O Asphalt. 23 28 23 J
243 Ins CoNA 26 28 26
400 Key Tel Co 12 12 12.....
830 Lk S Corp 10 18 10 ?
31 Leh Nav.. 70. 70 70 .....
130 Nev Cons. 22 32 22
8 Norf & W.128 128 128 4
30 North Pa.. 03 93 03
647 Penna It R 63 53 63
6 Pa Salt M. 94 94 94
200 Phlla Co.. 34 84 31 1
621 Phlla Elec 31 31 31
150 PRT tr cfs 28 28 28
75 Phlla Trac 79 79 79
140 Ray Cons. 28 28 28
181 Ton Bel.. 4ft 4 4
20 Ton Mln.. Oft . Oft Oft
435 Union Trac 42 42 42
769 Un O Imp. 87 86 86
1816 U S Steel. 112 110 112
200 War I & S 0 0 0
60 Wm Cramp 88 88 88
60 York Ry pf 37 37 37
Total salen. 6W8 Mmrf.i, compared with 12,017
hnr lant Momla,
1IONDS
High. Low.
does.
Net
chga.
05
48
07
03
48
93 3
48
81000 Allegheny
Vnl 4s.
100 Am Gas &
Elec 5s.. 03 05 05
2000 Lake Sup
Inc Es.,
$0000 Penna Co
gi'n 4 s
w 1
7600 Phlla Elec
1st 6s... 101
16000 Reading gn
4s 92
18000 Read-Jcr
Cent 4s. 01
4000 Stand G &
Elec 6s.. 102
08
1014
02
01
07
1014
01
102
102
Totnl eiiled, $W,(KK, compared with 8118,900
Inftt .Monday, ,
Local Bid and Asked
Today
Hid AHked
Prill. JO 23- '1
Huff ft Susq t c .18 t.O
da rref t c r0 r2
Tlaldwin 62 !2'i
Klcc Storagn J (1J1
Umi Anp 23 21
do pref 2 fit
Key Tel M2'4 13
Lake Superior Corp ... lt lli'i
Lehlch Nnv 78?i HO
Lh Valley is'i 0'4
Leh Val Tr U.V4 20
do prcf 4.1 -t.HJ
rvnna .13 MH
Phlla. Eleo 31i 31S
1'hlla Co 34 31
do .1 p c pf 3.1 37
do (I p c pt 37Vj ys'i
P R T t o 2N'i 21t
Reading 03 114
Ton Hel 4'4 4?
'Ion .Mln (ib
Uulon Trac 4U4 42
U O I s.1 HH'J
IT 3 Steel 111 112
York Rwy 144 1.14
do pref 37 37'4
Wm Cramp t c 87'S 884
Saturday
Hid Asked
2.1 20
.18 110
.1' .13
S2V4
113
24
lit
13
02
21
IIJ
124
1ll'l
78'4
OS".
2.1'j
4.1
63
314
34
31
7'4
20
944
4
(1
42V,
B'
111'.
1.1
37 '4
S7
20
80
I.Vi
20
4.1j
63
3t4
36
, 37
38U
201
05W
4
4.1
87'4
111
1.14
38
611
LOCAL MINING STOCKS
TONOPAH STOCKS
Bid.
MacNamnra 07
Midway 14
Mlzpah Extension 11
Montana 20
.North Star 11
lte.oiuo Kula 25
OOLDF1KLD STOCKS
Atlanta II
Ulue Dull IIJ
Hootll 08
Dlamondfleld II It OJ
Daisy 02
Uro 02
Sand Ken 03
Sllcr Pick 14
MISCELLANEOUS
Arizona United 40
Nevada Hill 18
Tecopa Mining 2d
AakM
.09
.16
.13
.21
.14
.20
.13
.01
.10
.04
.04
03
.01
.10
New York Bond Sales
4000 Am Agr deb Ss lud
4800OO Anglo-r rencn os m84
tiuou Am foreign Sec 6s.... VO'i
Ouuuo Am lei us vu-a
duuu aouu'ih ludft
lwoo Ann Aruoi 4b il.i
116U0 Atcnlson 4s IIJ
iiimu nail a. Ohio J'sa UiU
150OO do Oa ip.-a
uouo U.U l- 1, J W V 4s 8J
2000 Maidnln Loco 5s .. ..lud
luuuo UrooKlyn it 1'r 6s 1U18 no1,
1000 City ot ilurueaux os.. UU'4
OOUU ldll uovi ou 1U.U.
uuuo do us 1UJ1
2ouo Cai Uas i dec Ss..
14500 until copper is ... .
UUUO (.lies & unm I'is ...
OsOOO do conv 0s
3UU0 Chi Ot West 4s ....
28000 (J II & U reg 4s
20UU do 111 3',-js
2000 C M 4. St 1- rfd 44s.
1000 do conv Ss
loooo do cv 44 s
4000 do gen 4W s
BOOO C .I j. 1' K 4s
B00O Col Midland 4s
53000 do ct 4s
10000 Col &. South 4Vas ...
32000 City ot Paris tin ....
11000 Chi Iluy Co Ss
31100 Den & II U 4s
8000 Detroit United 4',js..
70UO ui aeo corp os
l'iicio Krio 4s
93000 French Rep 54 s 1004
1UIKI Houston S. Texas 4s, llll
21000 HI Steel 44 01
tiooo Interu Met 44 Uu',4
15300 Japanese new U S 44 s 70
. l
. Us
. 07
.120
. 844
. DO
. 08
. 16
. 81
. IIJ
.100
. 94
. 1)74
. 82
. 8
. 7
. 81
. 90
. IIJ
. 70
83
80
81
loot) do new W 81
3000 Lk Sh deb 4s 1928., , 024
3JO0O City of Lyons 0s 96
16000 Morris t Co 00
2S000 City of Marseilles Gs, 00
3000 Mo Kan & T 1st 4s,.. 72
78000 Midi ale Steel B 92
2000O Mo I'ao IV L Ss 1028. 98
10000 do w I 4s 02
(I000O do ct 4s (10
2000 Mont Power S 08
1000 New Orleans AS
300(1 N Y C & It 3 704
31000 do Us 107
2000 N Y City 4 1B.10 .... 99
12000 do 4'4s 19(10 100
6000 do 4 His 11)114 100
7000 N Y O It & V S 100
1000 NVNHtllll 101
3000 N Y Rwy 48 634
11000 do Ss 31
800(1 N Y Tel 44 a 934
1000 N Y W C & B 44... 61
4000 Norf & West 4s 9114
S000 Nor Pao 4s 90
1000 do 3s 034
BOOO Oro Short I. 4s, 00
500(1 Pacific Tel 5s.. 98
88000 Tenna gen w 144s., 97
6000 do en 4 104
3000 Public Serv N J Ss... 894
.100 I'ere Marquette 4 70
6000 Reading gen 4s 92
BOOO Readlng-Jer Cent 4s.. 904
16000 Repub Cuba Ss 1914,, 924
1000 St I, t 8 F cv m Ss.,100
2000 St P M & M cn 4 03
flSOO South Hell Ss 09
27000 South Pac cv 4s 83
48000 do cv Ss 100
1000 South Rwy gen 4a,,,. 08
1B000 do 6s 984
S0000 Toklo Ss 77
10OO Tol St L & W 4a 674
S000 U 8 Smelt & Ref Co., 10.14
62000 U H Rubber ct Ss 89
1RO0O do Os , 101
8000 Union Pac 1st 4 95
1S9000 U K of O R & I 5s., , 07
104000 do 6 a 1918 ...!!l00
81000 do 64 a 1019 new., 101 A
60000 do SVis 1019 074
43000 do 64 s 1921 08
2000 Vandalla R R Ser A.. 884
.... West Kleo B 100
lonnn West Union 6a ...,,,, 99
S00O West.l'ac R RSs..,, 87U
Low.
103
944
Hutu
00
1U31?
uo
01
91
83
1UJ
00't
0(1
S
08
07
125
844
0U
(18
00
81
02
10U
1)4
97
82
8
5
81
05
9J
79
83
61)
81
100H
00
01'
68
79
81
924
90
IIU
96
72
Close.
103
04
0H
OUf.
lUJj
(i.
02
01
Ulii
83
1U3
OD't
UU-4
os
08
01
125
84 '4
OU-
88
Oil'-,
81
92
100
04
07
82
8
7
81
98
93
79
834
bO
81
1001
98
. 1
684
79
81
924
98
90
96
72
92
98
62
(10
98
(18
79
108
99
100
100
100
101
13
31
954
(11
91
90
034
IIO'J
98
97
104
89
70
90 904
101 10H
Total sales. (2.826,000, compared with 13,864 -
in last Monday. .ov,-
000 last Monday,
War Risk Rate Boost Same as Britain's
NEW YORK, April 23, The action of
the American Government war "risk bu
reau In advancing transatlantic rates
from 3 to 6 per cent quickly followed a cor
responding Increase by the British Gov
ernment. The British rate 'Is now 5
guineas, equivalent to 6 per cent., or
of 1 per cent, above the American Gov
ernment quotation. Rates to Oreat Britain
Vera unchanged at 8 to 10 per cent, to the
Mediterranean 12 to 17 per cent, and Bor
deaux 12 per cent flat. Coastwise ship
ments are being taken at U to of 1 per
cent.
Sugar Futures Not Aggressive
NEW YORK. April 23. Tha market for
ur ruttifea opened today "Unchanged, to
a acl!n-ot 4. point, with Cuban Interests
aal I . .a m aA aMAf-' n sstaau . .
ntrNm Ttrmnnnnm TXT KIT A TJTT'ITHTI T A tnw.
bJtlUKTllNTJliltliOl 11 wmiviviJi urx.xxrj't
U TILIT Y MJUKUiJJK iviAiviiN j r JKUVrKESj
Majority of Lehigh Valley Transit Preferred and Common
Stock Deposited Under Agreement Trading
Light on Exchange
Stocks did very little throughout the
whole day's session on tho Philadelphia
Stock Exchange. While the announcement
from Washington that the Issue of 1200.
000,000 Treasury certificates had been over
subscribed was encouraging to the financial
district, as it showed very plainly what
the condition are at present, yet It did not
hae any bearing on tho stqck market as
far.ns bringing about any Increased activity
was concerned.
Some consideration was given today to
the present situation In tho stock market,
more with respect to Now York than In
this city, howccr. It was agreed that there
Is a oty large short Interest at the mo
ment, and In ono houso today It was said
that nbout one-sixth of tho accounts are
short. It was explained that this was very
unusual for this house. Tills large short
Interest has been brought about by tho
belief of many that tho profits of different
companies, especially the Industrials, would
bo cut down by the Goernmcnt, and that
taxes would be Increased.
Further progress Is being made on the
merging of utility companies. This was
Indicated today by the fact that additional
receipt of the Glrard Trust Company for
preferred and common stock of tho Lehigh
Valley Transit Company had been admitted
to the regular list of tho Philadelphia Stock
Exchange. The nmount of additional pre
ferred receipts was $18,250, making $3,320,
GOO preferred stock deposited for tho plan
out of $4,079,687 outstanding. It will be
seen, therefore, that there remains only
$1,869,087 undeposlted of this class of
stock. The additional common stock de
posited was $10,000, which makes $2,260,500
out of $2,997,350 outstanding, or' $73G,850
undeposlted. In nddltlon to theso receipts
there was admitted to tho regular list $2660
additional American Milling Company stock
and $600 additional American Telephone
and Telegraph stock.
The management of tho Philadelphia
Rapid Transit Company has considered the
question of putting tho company's stock on
a quarterly dividend basis Instead of smni
annually, ns In now the case. This cnJ
sidoratlon was brought about as the resuiS
of larlous letters from stockholder L.
questing that nctlon alone thu h '
taken. It Is stated, however, that there nl
'""" " " "B" '" ""5 "car lUtUre.
as statea aoove the trading v 11-
., ink.... n.,J h. -I . " "
v,., m.,,., ...,u io timnges in prices
una vivk.. uoiuhioi; ICtXIliy, Werft femll
rrk. ..,(..l.,. .!,. '. "i,D smaUJ
iiiu Hinvnv ui nielli iuuy were to 1
lower leel than the close of Salurdav t-1
stocks Philadelphia rciortrlo ... ,i.i.'l
Halnhln Pnmnnnv nnmmn.. ..- . "Ua-I
low marks for the last two years Tk.1
former was only off a fraction, whil tfcH
latter declined 1 points. United sutall
Kf?Al Mrrmimi wnn rin mnef nti... l. l,lWl
a little higher. United Gas in?.. L .$
nftcr selling a fraction higher, lost the iaiM
and more besides. Philadelphia lu,Vu
Tr.inslf trnaf rortlflratf.., rflj . -""PHI
.vr .-- T..M V. " "7.1 " . ',ul "PPe!1 oa
mo w.w v.,,..,. mo uLicinuun, when
came out at a loss.
NEW YORK COFFEE MARKET
NEW YORK, April 23. The market f
cuiic-u iwuiea ujjoiicu quilQ QCtlVe todiyl
and 1 to 5 points lower, with sales ori"tht
can xo,tov vuga.
Today's
opening.
Today's
close.
April .,.,., .... , , ,.
May 7.807.81 7.827.81
June ....
July 8.0008,01 8.02S8.01
August ....
September .. 8.118.12 8.168.18
October .... 8.1BW8.2I) H.22h!24
Noiember .. 8.22IP8.27 8.2808 3d
December .. 8 3208.34 8.35fi,S.37
January ,, , ,
February ....
March 8.3398.57
BAR SILVER
. Last
Today. Sat. Mon.
Ixindon pence).. 37 374 38A
New York (cents) 72 74 73
Saturdty'sl
close, "i
7.820?N
'S897.H
8 04r9
8.10 ! fi
.ioS 11
8 filial
8.4258.JI
s tha
8-SSll.sS
i
Hlh. Law,
38ft I5U
(0 7l8
NEW DESCRIPTIVE BOOKLET
1STH EDITION REVISED TO DATE
ON
STANDARD
O
MAILED I UPON
FREE I REQUEST
L
ISSUES
This booklet, which will be ready for distribution in a few
days, will contain all of the 1916 financial statements of the
Standard Oil companies issued to date, together with other
important information relative to each of these companies,
and a comprehensive review oPthe general oil situation.
CARL H. PFORZHEIMER & CO.
DEALERS IN STANDARD Oil, SECURITIES
25 BROAD STREET NEW YORK
WAR ISSUE
U. S. GOVERNMENT
BONDS
We take pleasure in offering
our services, without com
pensation of any kind, to re
ceive and forward subscrip
tions to these bonds, attend
ing to all details, including
delivery of bonds.
HARPER & TURNER
Investment Bankers
1000-1012 Stock Exchange Building
Philadelphia
Magnate Copper
i
Listed and actively traded in on the l
NEW YORK CURB MARKET
Ask Your Broker
' MAGNATE COPPER CO,
Philadelphia, Pa.
FOUNDED 1865
n Provident
Life and Trimr rv.
WWU1L..U11 oi rnuaaeipnia
AM JIMBaMtdBi MI "
Hf HlbVimr tlUnHMiUiiia &..
.4 w j -.ww wen
At e Endowment InMum
l '" "vw svtaa car
t y
ttfaftaMfl MilkaM. Jl
vn., sswavBear before w. .. j .... ijlt
..... C..J . v - "- HIUUHLCI Ul. fllUUH.
aa Im... ... --t: tT .T
. insurance
WR alt other U
f wttl care for Mm, even ?l A
. T f V '
EEaUaulVfj
wiin,-iBBs)e par oeai oarwuw.rrway.
: - - . -!.w.5
:K
! fr aarahi
inara wa mil
ii. .. ... - J" S,.f V
'&r-yX"'
h'mfi&m&!Zii -. .".
-tJa
Jf