inii Vrfi vr; y ; L- r r && ., - n. ttlU INTINK 'NATION & A '&. J 'V'V.3iSiVv Vii - pntiM(.tT nt e.M t CITY OP SAO PAULO BRAZIL kXTKBNAU t JANUARY; 1, 1M7 PRICK, Tp-NET 6.80 V HO RCHXY.tROCK&CO. -,. ANsUtBS Mf CHMTNWTST. ratLADBLPHXA r7vtii c : VlW l'1 m&m'eiAL -n-ews SPECULATIVE ELEMENT ON THE FLOOR CONTROLS MOVEMENTS OF STOCK PRICES r Covering by Shorts Brings About Advances in Early ' Trading, but Recessions Follow .When Outside ' Interest Is Absent A Time to Investigate ,,Your Securities The. international situ ation haa prompted many investors to 'study with unusual care the perma nency of the value back of their holdings. Our Investors' Service Department has collected facts and figures regard ing almost all the securi ties with a market in the United States. Requests fr6m investors for .In formation regarding any bond, note or stock will receive our prompt attention. PWfflim P. Beabright & Co., Inc. MORRIS WIS.TAR KTROVD, Jr. Manager 437 Chestnut St., Philadelphia New Yerk Boston Detroit y Tendon PaH- I WtMam r. Boabrliht a Co.. Bonbrlibt a Ce. xHtgh Points in Today's Financial News ,. -?M'e inier't liking in etock market:"' Shdrt covering brought about Z .i' ".mo'7ufir. out recessions followed in afternoon. Oil stocks lower i- ti. ' -Tr xrTeul?r' Wht and cotton sold higher. Foreign exchange ?T.J; 'j'. Bar "ilver higher. Freight car shortage on April 1 wait JLII' a.crac of 1S.977 over MarCh 1. More gold for Japan. Call A?Jtfjeaeh.ed 3,y,Ver .etnt in Wal1 8trtet- United States Steel Corporation VJJZif ex dividend of .3 per cent on common, and reported record net earnings of 113,lil,018 for March quarter. EOlglarkftgo. BANKERS JtaC4bUalM4 1U71 321 Chestnut Street Philadelphia Odd Lots Stocks Grain Unlisted Securities u Tha aaine careful attention sien to ,. smntl lots aa to those of largtr amour ts. HUGHES & DIER ( Phlla. Block Exrhanre t Chicago Board of Trade 1435 Walnut Street Philadelphia l'?T D. Lupton's Sons Co. 7 Cmndntive Preferred Stock Dividends paid Quarterly. rrta of Tax In Penna. Wriia tor Circular and Price. Morris Brothers Co. Established 1SS3 1421 Chestnut Street lA ,Ul top lc,l NEW YORK, April 24. Outside Interest was absent on tlio Stock Exchange again today, with the price movements nearly all controlled by the speculative element on the floor. The room traders, who were heavily committed to the short side, became uneasy In the early trading and were urgent buyers to cover their short con tracts. This demand made the market strong during tho first hour, when advances ranging from 1 to more than 3 points wero mado In many issues, i&ut when the short covering was completed these gains were in nearly nil cases lost. When the urgent covering was In progress Industrial Alcohol moved up more than 3 points to 109 and Bethlehem Steel "D" also rose moro than 3 points, selling at 12m. United States Steel' common mado a gain at tho same time of to 112, and similar advances weie noted In nearlv nil the other standard Issues and In many specialties. The display of, strength was of short duration and was followed by n receding of prices, due more to an abience of outside buying than to any other factor. The high prices also brought In a supply of stock, for which thero was no nearby market, and It was not long before Industrial Alcohol sold down to 105 and other Issues dropped to below yesterday's final figures. Special attention was devoted in the last half of the day to the local traction stocks, with Interborough common and preferred selling at new low records. ( Tho preferred stock dropped from 604 to 55 and the common stock sold clown from 10 to 9i. Third Avenue at the same time showed a loss of 2 points to 30 and Brooklyn Rapid Transit declined, 1 to 63j. Apparently most of the stock sold on these declines came from bear sources, but there were Indications of liquidation due to report, nbout the high cost of material diminishing the profits of tho local transportation companies and to the fact that Brooklyn Rapid Transit and Interborough will both soon be called on to pay. Interest on tho new bonds from earnings Instead of from construction account. The bond market showed a generally steady tone, with about the only weakness, being In the Interborpugh-Metropolltan 4s, which sold down to 65. All the foreign bonds were heavily traded In, with the Anglo-French 5s selling at 94H to 94. FEDERAL BLOW AT STANDARD OIL COMPANIES HITS STOCKS ON CURB NEW YORK, April 24. The recommendation made by the Federal Trade Commission In favor of renewing litigation against Standard OH Interests caused declines ranging from 4 to 13 points In nearly nil the Standard Oil stocks around noon today. Standard OH of New York dropped from 290 to 277 after the announcement of this action. Standard Oil of California declined from 281 to 273, and Standard Oil of Indiana yielded from 790, to 786. Atlantic Refining dropped from 900 to 890. Independent oil stocks wero Irregular, with Cosdcn Oil selling at 13 to 13. Midwest Refining dropped from 137 to 134, Sapulpa from 10 to 10 nnd Merrltt from-24 to 23. Lake Torpedo was weak, falling from 7 to 7. Submarine sold at 20 to 21, National Conduit at 34 to 34, Air Reduction at 68, Marlln Arms, at 73 to 75 and North American Pulp at 5 and 5. Everett-Heany was strong, sell ing at 22. Mining stocks were Irregular, Magnate being proment with sales at 80 to 82 cents. Big Ledge sold at 3 and 3, Butte Copper mid Zinc at 9 to 8 and Stewart -n't . United Motor sold at 30 to 30 and Chevrolet at 98 to 100. INDEPENDENT Oil. STOCKS Continued INDUSTRIALS Did. Tea. close. Asked, (aale) SO s 22 12 2Vt 3 32 74 10D 90 22 11. DO 9 r&. iu' LT- lM I 4 A fc-r-' . OlsnFenney & GOMRANY ..AUTOMOBILC BANHIR Offer sueclal facilities tnr in dividuals or automobile deal . era to finance the .acquire ment of' pleasure cars and .k ,for business-houses1 to finance I th .acquirement of commer rt elal care or trucks. If you v are thinking of purchasing a - emx-ct any kind for '-any purpeae the FINNEY SYS- .- . wm mass a.oetter bust. ?- Maa triBaietlnn ev.. ... ,-, , .. jri J-. ,. rt :&t . i A '- - - . . . v. awijaia. trust ' auiiiniu M MIILABCtMMa " 'J tr, -" " "n !" . JW" tT-'-V A ft -iiniSeLr: taouasnu c2iiz:$ r aanv a. aaa akaa . - ( .. iai aai Mnvcaalr. tjuaoc 'rkKaaaUaaJi Am Reduction Am Stores 37 Am Sumatra . 20 Aetna Explosives 3 Am-Brltlsh Mfg Am Marconi 2 Vt American Wrl'ng Paper 3 Canadian Car o 20 Can Car & Fdy pref . ... 70 Charcoal Iron Chevrolet Motors 97 Cramp Curtlss Aeroplane IB Carwen Tool 11 Carbon Steel SO Emerson Phonograph . . Vt Federal Dye 40 Haskell & Barker Car... 37- HencJee Mfr Kathodlon Bronze pref.. .1 Lake Torpedo Boat . . . . 7 Lehigh Coal Sales 8S Lima Loco S3 Maxim Munitions 2 Marlln Arms 76 Nat Conduit 33 N Y Shipbuilding 3S Nor Amer Pap Pulp. ... B Otis Elevator flO Peerless' Motor 12 Poole Eng 78 Pierce Arrow 40 Redden Truck 19 Siwta Cecilia 25 S S Kresge w I 10 Standard Motors IS Steel Alloys 7H Submarine 20H St Joseph Lead 17 Todd Shipbuilding S , Triangle Film 1 United Profit Sharing .'. U S Steamship . United Motor 2 United Sugar" sa World's Film Wright-Martin Air 6 Zinc Concent 2. STANDARD OIL Illinois 2S0 Ohio ,850 Prairie' Pipe ,.,. ,J07 Stand Oil of California.. 270 Stand Oil of New Jersey;24 Stand Oil of New York. 270 INDEPENDKNT. OIL STOCKS Barnett OH & Gas ...-,. V--- Cosden OH 13 Cosden.A Co ,... lH Elk Basin . '10 Federal OH .'. . . SH' Inter Petrol US Houston OH 18 e .is 20 3 08 11 "Y 38 .. 34 tY .. 7 8 00 0 2',. 2 82 73 34 33 41 8 8 63 15 SO 48 20 30 11 11 18 .. 8 8 21 21 17 17. 85 .. 1 1 .- 30 30 36 36 T4 6 0 2 2 228 355 212 280 680 381 13 13, 10' 8 . 21 353 13 13 11 8 13 Tea. clone, tnked. (gate) 22 24 138 136 1 194 20 .. 10 10 0 0 10 10 1 1ft 13 16 50 50 13 12 3 3 .. 0 8 194 .. 8 iy, 2 3H 1 1 2 .. 8 53 52 28 15 1 .. 7 1H 6 .. 11 .. 2 .. 75 70 nid. Merrltt OH 22 Midwest Ref 133 Met Petrel 1 Ohio Fuel , 10 Oklahoma Ref 10 Osage Hominy 9 Rice Sapulpa Ref in Ssivoyah 1 West End O & G 12 MIN1NO STOCKS Alaska Standard 47 Atlanta 11 Big Ledge 3 Bisbee Copper, a pr Butte Cop & Zlno 8 Butte New York 1 uasnooy 7 Con Arizona 2 Emma Consolidated 1 First National 2 Goldfleld Merger 6 Goldfleld Cons 48 Goldfleld Florence 22 Goldfleld Kewanas 13 Green Monster 1 Hecla Mining 7 Howe Sound 5 Independence Lead 10 Jerome Verde 2 Jim Butler 68 Jumbo Extension 40 43 Magnate Cop 81 82 McKinley Duragh 46 40 Magma Copper 45 48 Mother Lode 88 . 35 Mines Co of "America... , 1 2 Nevada Hills 15 22 Nevada Wonder 1 2 Nlplsslng 7 79 Ray Hercules 8 3 San Toy 14 16 Steward 0-32 Tonopah Extension 3 A 8ft -United Verde 36 36 West End Con 70 75 White -Oaks 8 .. White Caps 1 1ft Yerlngton 33 33 BONDS American Smelters Cs .. 04 03 Atlanta Charlotte 5s.... 98 089i Bethlehem Es ..., 98 08 Cosden OH 6s 100 lot Cosden & Co 6s . , 103 103 108 CUdahy Es 07 08 Erie Ea 98 98 .. Russian Government Ss 87 87 87 Russian Government 6 s 04 95 95 Southern Railway Es... 98 98 .. Sinclair OH 6s 110 110 98 Todd Shipbuilding 6s... 101 103 ,, N Y State 4s 105 103 .. New Hayen Es 97 98 ,, 41 82 49 45 34 7 3 " 3 38 1 05 08 100 MONEY-LENDING RATES NKW VOBK Call money opened at 2 per cent: high, 3, low, 2T; last, 3: closed, 2 & 3 ;. ruling rate 2 per cent. In a" general way .Industrial loans are quoted at 4 per cent for. sixty. days, 4 pe cent, for three and four months, and 4 0494 for Ave. and six njjbnths,-, On-good mixed 3G4 per cent Is. quoted for sixty daya and '4 4 per cent for the longer maturities. .. . Prune bank acceptances are slow a 8 9 3 per cent for ellglbles and 4 3 per cent forVnellglbles? Prime mercantile paper continues dull on listed demand and equally small offerings- The minimum discount, figure is 4. per'cenC? - . ' ypjreABBLPBIA Call, 1 per, cent Time. T4J.S,yP c,nt- Commercial paper, three to'sk month, 4 4 94 per cent - - 1-- . . ' . t i t UiV' IAi; ABYMimaMBMT , , . .FOREIGN EXCHANGE NEW YORK, April 24; The market for foreign exchange was quiet in the early dealings withoutpartlcular'fealure. Swiss shaded and rubles had a hea,vy appearance. On the other..hand French exchange and pesetas were fully steady. Quotations-were: . Demand sterling 4,75, cables 4.76 7.16 60-day bills nominally 4.72; 90-day Mils 4.70, Erano cables 5.70. checks. E.71. Lire cables 4.91, checks 6.92. Swiss cables G.15, checks C.16. Guilder cables 40 13-16, checks' 40i, ""Ruble cables 23.45, checks 33. 31. Pesetas cables 31.75, checks 21.60, ' Stockholm cables- 21.30, checks 31.10 Chrlstlanla cables 28,-checks 33,80 ' Copenhagen.cables 21,20, checks 21. BANK CLEARINGS Bank cjtarlnsa today compared with corra. tpondlna day laat two reara: corra- iioi inW'il.iit1,,lA J01B. Wton ;:,;.Sfiia 7iKMfc4iT aeS'SoS 1 ,Netp Ybrk'Stock Sales " Alaska Gold M...'"? Alaska Juneau ,, 6 Allls-Chalmers Co 38 do pref e.ij4 A"i Can 44 Am Car A Fy Co. 65 Am Hide A Lea.. ls . d " Am Ico Sec...... 28 Am Linseed 20 . d0,nr 88 Am Locomotive .. 66 do pr 102 Am Malt 10 do 1st pr 6o Am Smelting .... o do pr A 99 Am Steel Fdry ... sou. A 111 . Net. CIak. eh. 7 8 25 84 1 48 ' 65 12 94 60 1 25 20 86 66 10t 103 10 10 60 661 97 97 go 09 88 89 1 IV. 6 34 83 43 63 lt 60 28 30 66 66 Sugar liou, iiou. tioit V4 oo pref H9 119 lie A.Y1 Tobacco 192 1S7 187 Am Wool 46 47V. 47 Am Zinc & Lead,, so 20 20 Anaconda 7g 78 76 Atchison 102 102 102 1 Pref 08 98 08 Atlan Blrm A Atl 18 ie 16 AtlanOulf & W I. 97 94 94 2 Baldwin Loco Co, 63 52 82 Baltimore & Ohio. 76 76 76 Barrett Co 100 100 100 94 Batopllas Mining, 1J4 1 1 Bethlehem Steel.. 181 130 130 !"? nT,,,v;;-,m4 U8' IUK V Brklyn Rapid Tr. 65 63 64 1 Burns Bros 122 121 122 Butte . Sup Cop.. 42 42 42 Cal Petrol 19 17 17 ."... do pref so 47 47 2 Canada Pacific ,.lo 159 159i Central Leather... 84 82 82 94 Ccrro do Pasco... 34 31 34 Chesa & Ohio .... eo sou. sei4 v. -m ureal wstrn.. 11 11 Chi M & St V 80 70 Chi & Northwest.. 114 111 CHI HUPM pr. 45 45 i; St. h 44 Chill Copper 21 Chlno Con Cop... 52 Col Fuel & Iron.. 47 Col Gas & Klee... 44 Con G i: L& P...113- Consol Gas 11 Hi Cont Can 02(4 Corn Products ... 24 Crucible Steel .... 81 Cuba Cane Sugar 45 Sales in Philadelphia Nt chse. 44 219i 51 47 43 115 122 13 13 37 409; 182 104 .86 40 78 109 30 40 127 108 Del & Hudson Dome Mines Distillers' Secur .. Erlo do 1st pref Gen Klec Co Gen Motors do pref . , Goodrich n F . . . . Granny Mining . , Great North pf. ... Gt North Ore subs Greene Can Cop.. Gulf State Steel., do 1st pref . . . , Illinois Central. ... Hit Agrlcul 18 18 do pref 47 40 Inspiration Cop... 53 53 Intorb-Cons Corp.. 10 9 do pref 00 55 Int Mer Marine.. ;' 25 'do pref ....... 78 76 Internat Paper .. 39 37 do pref ct 07 07 Int Nickel 41 41 Jewell Tea 52 51 Kan City South. 22 22 Kelly Springfield.. 51 51 Kennecott Copper 42 41 Lacka Steel .... 84 83 Lehigh Valley . . a& 05 Leo Rubber &"Tlre 20 20 Long Island .... 41 41 Louis & Nash ...131 131 Mackay Cos pref. fl.1 85 Max Motor 40 47 do 3d pref 31 31 Mex Petrol 80 85 Miami Con Cpr... 41 40 M S P & S St M.M0S 11 7094 114 45 44 219; 31 47 13 115 2 111 111 .. .. 02 92 23 30 43 21, 19i 15 1294 94 2694 40 1 94 23 60 43 121 15 12 26 40 10294 162 101T4 102 2 83 85 1 40 40 78 78 1 100 109 30 30 40 40 125 127 6 106 108 1 ' 103 103 103 18 46 63 .... 0 1 80 3 25 .70 1 30 1 07 41 2 ' 47 1 31 . ... 86 40 105 105 1 .120 120 120 6 51 51 42 83 05 20 11 131 63 do pref Midvale Steel .... 57 55 58 Mo Kan & Tex.... 7 7 7 do pref 13 13 13 Missouri Pac ctfs. 0 0 0 1 Mo Pac w I 28 28 28 do pref w i .... 59 36 80 National Bis pref. 122 122 122 2 Nat Enam & Stpd 34 33 33 Nevada Con Cop. 22 21 22 N Y Air Brake.. 137 137 137 2 New York Cent. 94 93 98 N Y N H & H.. 40 40 40 N Y Ont & West 23 23 28 Norf & West ....127 126 126 North American,. 66 66 60 2 Northern Pacific. 103 103 103 Nova Scotia Steel 00 Ontario Sliver ... 6 Ohio Gas 139 1. . 83 219i . 03 . 81 . 28 . 34 . -54 v 63 42 .157 .' 28 . 04 . 80 .102 Owens Bot ,. PaclflR Mail.. Ponn R R.... Peo Qas & C. Pere Marq w Phlla Co Pitts & West . . do pref Pitts Coal ctfs. Pullman Pal Car Quicksilver pref. Ray Con Copper Reading Rep Iron & Steel do pref noyal Dutch 63 StLS'Fw IT 10 St L & So W.... 29 Sinclair Oil 56 Seaboard Air Line 14 do pref 31 Sears Roebuck ..174 Sloss-Sheff S & I. 46 Southern Pacific . 94 Southern R R .... 28 do pref 58 Studebaker 86 Tenn Cop & Chem 16 Texas Company ..210 Third Ave R R .. 38 Tobacco Products it do pref 100 Und Typewrit Co 08 Un Bag & Pap Co 91 Union Pacific 137 do pr 80 Un Alloy Steel... 42 Un Cigar Stores.. 99 United Drug 75 United Fruit 133 13244 133 Un Rwy Invcstmt 8 8 8 1 do pr 10 19 19 .,,, U S Ind, Alcohol. 108 105 105 l U S Realty & Imp 11 11 n t u H HUDDer 08 57 57 U S Smelt & Hef.. 64 fii gjiu u 49 49 49 112 111 111 7 117 117 1, 110 100 109 66 64 05 1 1.1 11 11 , s7i ! a 00 96 as 48 90 00 6 0 135 13594 80 60 3 21 21 52 80 Vj 23 1 84 24 63 42 157 1 2 28 03 78 1 102 83 1 10 29 53 2V4 4 31 174 174 1 46 46 1 S 27 4, 10 .... 208 1 28 3 51 100 04 2 01 2 180, 7 42 08 75 52 80 23 34 24 62 42 157 2 28 03 78 102 62 10 20 88 14 31 03 27 68 84 15 208 29 51 100 95 88 ISO 70 43 00 75 do pfd U 8 Steel do pfd Utah 'Copper Va Iron C & C Wabash do -a til B Western Union Tel 86 Westlnghouse Mfg 48 Woolworth 133 182 181 v. Worthing P & M Wheel & L E.., do pref White Motors . . Willys, Overland do pref Wis Central . . . Wilson Co .... 28 26 26 4- ti 16 16 18 .ill 38 88 47 46 46 4-1 2894 20 29 4- 85 95 96 S 49 S 75 72 7394 2 harea, , romporad with attlUtOAO .XAatNINCA, Total aaiea, Sim 000 nBarea, . romporad with 300.608 ahare-a Tmterdari than far thla week. 781.200 diareai same period last week, 1,251,800 'Ex-dividend General : Clsar Company. It Amr lean Zinc, 1: do pref, 1; tEx rictus: Chill Copper, Cotton Buye'ra'and Sellers ' NEW 'YORK. April 24,-J-May-rHartoorn, Mitchell, Geer, Schlll and C, Hicks bought t C. Hicks. Burnett, Wlggln and Cone sold. July Sellar, Newman. C. Hicks, Cardoza and Schlll bought; McGee, Downs! Smith, Wilson. McFaddenrand TraVers sold. -7 October Schlll, Black, Wlggln, Garan and Hyman bought ' Parrott, Cardpaa, Hentz. sellar, McFadden and Itartln sold, t December Mitchell and Wilson bought: Brooks.' Russell and'SohllL'ao!,, ,' , ,ianury uowns." jajon Cloae, 21 60 3 112 7 129W 27 62 i 19 70i 60 , 44 1 40 83 Mi 04 34 87 8194 V 29 29 1 113 1 03 2 4 ..... 0 ft 42 9i 86 Hlth. Low. 200 Allla Insur 21 21 20 B & S t d, 60 60 80 Cam Steel. 112 112 100 Dlst Sec., '12 12 100 Erie 27 27 15 O Asph.pf. 62 62 275 Lk Sup C. 19 10 5 Leh Navi. 70 79. 1 Leh Valley 66 66 35 L V Tr pf 44 44 100 New Haven 40 40 519 Penna R R 63 53 25 Pa Salt M 94 94 50 Phlla Co.. 34 34 80 do cum pf 37 87 810 Phlla Elcc 31 31 20 P R T ... 20 20 2017 do t C .. 30 28 100 Pitts CI pf.113 113 40 Reading .. 93.. 08 426 Ton Bel... 4 4 657 Ton Mln.. Oft 6 101 Union Trac 4294 42 lain tt n T SR14 88 4140 U S Steel. .112 111 111 tt 100 War I & S 0 0 9 . 10 W Jcr & S 51 60 60 ..... .40 Westmor C 78 75 78 19i 355 Wm Cramp 88 87 87 1 Total httle. 11.760 aharea, compared will; 5J3 aharea rlcrdnri thua far thla week. I8.2B.I aharesi same period Inat week, 21,283 hare. WINDS :Jt Illsh. Low. Close. ise. 82000 Allegheny Val 4s.. 05 03 03 600 Am Gas & Eicc Es. 05 95 93 1000 Eqult 111 Gas Dn.,103 105 103 1000 Phlla Co cons Es. 00 90 00 1 28500 Phlla Elcc 1st Es.,.101 101 101 33000 Reading gu 4s 92 92 12 1000 Welsbach Co Es... 08 98 98 Total anlei, 863,100, cempareri ultli 837.600 rntenlnri tliua fur thl neck, x122,700i Mime period laat urek, 8215,000. Local Bid and Asked natrluin Drill, JO Uurt & Susi t c do pre( t c Rlutru: Mtornire Ueneral Aaphnlt . . .. do pref Kejatono Telephone. . L.AKO Superior Corp. Lvhigh Navlsutlon . . l.rhlsh Valley ... . I.chlgh Valley Tr. . do pref l'cnn)lvanla Phlla Illt-ctrlc ... rhHa Cnmpnm . .. do 5 per cent pref.. ..j u .. r 11111 prtt . . Phlla It T t c Readlns Tonopan llelmont .... Tonopah Mining . . . Union Traction ... . United Oaa Imp. Today Uld Aakeil 2i L'V S2',i 2.1 r.n r.11 1114 2.1 tu l-J'a IV 7S L'.iH I.'. .',3 HU4 :i4 .1.-. hi -' 4 ? "il rib 1TM,I Hl.l.. UI..I 1 1 1 4- York Hwy M- do nref 37 Wm Cramp I c 87 110 (124 'j 4 11:1 1:1 lM'i Hit -.?; j 11 4.V4 r.3' :iiI :n 37 :is .10 St. 43 MIU Ill's isfc 374 8 Yesterday Uld ABlECll r,a 1,11 M -'.V 11.1 1.1 ID1. Nil V4 2(1 4r.W r.3Va Ml. ,n nt St'i 29 1. 21 r.s Ml (12 2J 112 12li ID 78 4 : -'W I.', 53 :iH4 H4 3.-1 am 28H U.l-4 4'. . 111' 14Vj 37 b7li M,' 112 :i7, New York Bond Sales Hlkh. I.oiv, Close. J206000 Anglo-French 5s. ... U4! 2S0UU Am Foreign Sec 5s... Utl 4tH( Amer 'lei cv 4s .... UN niuoo do 5 mi4 liuuil Armour Co 4V4s IM 1S500 Atchison 4s Ul; l.'OUl) Atlan e. Churl 4Kb... iiii 4UU0 Holt & Ohio 5s II H II0IHI do 4s HH Bonn Can (Jovt ."is 11)21 ... Ils 12UUII do 5s 1U2II U7S UUUII do .'is 111,11 U7h inrv i,eni i,eniner 1st US., lull lllllll Chen llhln 4!.. . Uiiihi do conv 5s 2JIKIO Chi (It West 4 .inuil CHI II i y res 4s uuiM CHI JI & rtt 1 gen 4s.. 2000 do Ken '44 s uuuu Chi II I & 1' 4s 2000 C C C 4 Mt I. b m 4a.. ..iiuu i;oi .Midland 4s HVA Itu'i IIS IIU, 7h us H3. 7o; 04i VIIs. IIS ituS II. 1 Ul! till IIS h iikH 7 II7U luii 84i llll',, 117 IIH-i, UJ UN HJJi 75r J? t!4, lllii IIS vv VJ lll'i UII IIS ss II 7 H 7 1 1UII N4H llll I, UN tH 0714 IIN 75 H H .- Illll 101 tlJli U24 7U MV, 02(1(10 do ct 4s 7't ih 7U00 Col & South 1st 4 8N14 Kn 4,'i-,ihi flty of J'arls Us n II5I 10000 Con By & I.t sta 4V4a,10(l 1011 Iiiom UUDan Am Sugar 0s.. ,101 1(U Kiiiuii Con Coal Co of Aid Bs. IU4 liSVi 10U0 Chi lljs Co 5s -U24 1124 diiim Men it Ulo Or 4s 711 711 SOiio Detroit United 44 s .. K34 N34 33UUU0 Krench Kepublic 54 a. 101 luo'.s 1U1 iuu, 111 meei aeu 4s .... ill ill 01 loiio Indiana Steel 5s lull, lolU KilU Snnn 111 r.T . V ".. "" y.." "s "i u.v 1,1 I.C-IIL J iVild..,,, Mta 25UUU Interb Mel 44a .14 20(101) Inter Mer Alar lis ! ilFiHS ,,nternl 1'.,pr i'i louVi 1000 Knn City Ter 1st 5s.. 86 UUUU City of I.on lis MH 11)000 I.acledo (las 1st 5s,,,100 4000 Lk Sh deb 4s 1028... 024 7000 do deb 4s 1031 024 2000 Morris t, Co TvJ 200U0 city of Marseilles 0s. 9i 5000 Manhattan 4s . S.vt 2000 .Minn & North 44a... tioC 10000 Mldvalo Steel 5s.. 024 110000 .Mo Tac w I 4s.. ... (13 3750(1 do ct 4s ... Mi. 4(100 Mont Power 3s... .. ovl 01000 Nat Tube As ... .lull 1000 N Y Air Hrk rvt (Is l"" 3(1011 N Y C 4- H 34s. .. (14 2.-.IMI0 'do fis . ...... 107 8000 do 4s ...... 884 5000 NVC4HH, 1st 4s Ml 1000 M Y I'ilv JIA. toni ",!!J,. Innrin j .1 - . ?.... """ ' XJ'J. " .yx.u ,10 -.72a inti,, in.v H" n y n 11 & 11 os:::::im: ia lllllll rv V lllllll .! .. .. - 14000 do 6s .,..!" " 8000 N Y Tel gen 44a. ' 3000 Norf & Weit 4a" 8000 North Tao B.... 3000 Ontario Poner 5s.!.! JXXX v;rcVn Sn?rt wn 4s 8.14 0(14 2. Illll'. 81?, II,-, 8(1 III 100 024 024 14 0(14 8Mi 00 024 Ci.1 (i()4 074 1(10 102 lit Iniilj 884 111 105U io.m: 1034 10.14 834 nil 3.9i 11.1 811 mis 100 024 02 V14 004 8.1', tioH 1124 I12i llll 1174 1 110 102 III 10ll, 884 HI ,1 4 Hl'i Sife noS 02 (1 1000 rac-Hlc Tel Es"..:.?..' B8 71(100 Penna gen w 1 44 s 084 15000 do gen 44a .;.. 9714 6000 Pub Serv N J Es.. ' r42 2000 Pere Marq w I 4s 71 iiiioo Heading gen 4a... 024 82000 So Pacific cv 4s...... 83 10000 So Tno Co Bs I! nan 11000 So Itallwajf 4s..,,;.. JisU 4000 dn ft .... !2 soon Toklo 0s ' " ' 7-1? 101 4 113 31 ;; 884 nog 02 no nsi 0Bi 074 884 024 Sib n TOKIO OS 77r .i7 !- 50000 U S Ind AlcoKol Co 1074 unZ iiitiI ".4SSS U..s "ubber ct Sa.:" Roff 'go' 'ajif 1000 do Aa Soon Union Pao 1st 4. . 10400O U K of a II & I Bs B1.1UU11 ao oia 1018 aauwnii ao fta lnio 113000 do 54s 1010 1.-.,iiimi ao 04a 1021,... 3000 West Union 44 s.. 4000 do 5s 2000U Wis Cent gen js . 1514 1014 mi . 03 05 . 1174 071 .Hot! 100 074 io';o0,V'"liV I"'" ...... "0V...J111-, jHli( 074 1104 024 004 83 11.1 074 11111. 1 1014 "74 074 OfllS 1111 024 024 004 004 83V4 834 Total sales. $3,562,000. compared with 82 R?fl 000 jcMenlaj, thus fur thlaP7ekrw.378 0iI same period Inst week. 87,388,000. nwTVrAMn fht? TRANSIT CERTIFICATES . - its-it- -i-t-t-it71 lrrvDTP rrTJ A XT A rii.x..y AUVAJNUO fiXLKjJU muivij j.xixi.xi jt ruiJNT.5 3. Buying Based on Belief of Agreement Between City and (Jompany on uriginai naii-umuuiia oujei rails Seven Points Money Market Tighter Demand for Philadelphia Rapid Transit trust certificates, maklnc them tho most active in many days, brlchtened up the tradlni: on the local Stock UxchnnRe today. Tho price, at tho same time, was carried up more than a point, but all of tho Bain was not held to the closo. Thero was no particular news, on tho Street to account for the strength and nctlvlty of this issue, but tho encouras-lnB thing to tho holders was the fact that tho certificates had a greater representation In tho trading. The majority of the transactions which came out during the day were In 100-share low. rrhi. Imvlnir nmienrcd to bo based on the belief that the original plan advanced by the transit company to the city would bo through, and, while there was 110 real devel opment to back this up, the feeling around the Street seemed to be that such would bo the case. The majority of the chanBes In prices throughout the whole day were to a lower level than those ruling at the close last night, but those stocks which declined wciu generally those which are not represented In the trading every day, while those which usually make up a bulk of the tiiinsactlons were cither unchanged or a fraction or wo up Buffalo ond Susquehanna common nnd General Asphalt preferred hit new low marks for the year, the latter, In fact, sell ing to the lowest point In two e.irs both Issues falllnB 2 points. The widest decline was In Cambria Steel, which lost 7 points. All of theso movements wero hroUcht .. . I on light trading In the IndlvlSual stock.U' ,'j The nnnu.il report of the United (la. ? 1 nrnvement Cnmniinv. mhui, 1 1.. . " "n- .1 detail in another column, had virtual,0? cuin on uio companys stock. The iiaw wns unchanged und Inter 11,. ...1 " . "wrt " ?., hut In tho afternoon It Tn.V ." J?1. u clmnned from tho ulna nf .,. ...... .aV " .fl figures of earnings had nrevlnii.iv .--.. .T?' 'lJ llshed and the report today wasVlm, Sy im 1 namn 1 et renort roninlninn. .i, '"''".' "i J President Uodlno nnd tha reanu. V .2. s of " In detail. One pleasing thing n the rerJ. il to tho stockholders was tho ii.JL.VLr.'por 3 by Resident IJodlne of extra" dlvidond, at I Intervals. "us at jj Within the last few daj there has been - a, stiffening. In the local moncv TuS ' Tills iwas to bo expected In view of the n.r 4' eminent financing, a larcn nnn . ?.v . 1200 000 000 loan of the Government hav !' "! been taken out of the local market Tf V .ft,w -na Aviirn.,.,1 ..t .. . n0 . . i. -1..1 .:. . r. ' ".",i 't would the near not bo surprising to see the call money ri . marked up from 3U per cent In 1, M i future. Several hundred dollars' worth of four to six months paper was bought ii." t ny one or tno largest banks, the In-niiT, tlon Betting not less than 4i per cent I! tho money Payment f6r the $60,000 om Pennsylvania Railroad general mortKa 4 W per cent bonds Is to be mado tomorrow and this will take some moncv n,n .? lo6al market. some money out of th COTTON ENDS HIGHER, AFTER STARTING LOW Sharp Advance in New Orleans Starts Buying Movement and Advances Follow DIVIDENDS DECLARED Packaue Machinery Company, of Hprlntfleld Mass, quarterly of 11.75 per ahare on flrat preferred stock, payable May 1 to atneir ii record April 25. Olrectora resolved to adont policy hereafter of paylns dividends on thu class of stock quarterly. lnl airard National Ilank, regular aemlannual nf ?ecPo7d i. ""' MV l ,0 &8& of an'o'f VeV cI.n,!npalanb?onkM.r;,IU,rr K" holders of record April 30. " l t0 tock- Pourth Street National Ilank recular ami annua of 7 per cent, payable May 1 to JKSi'" holders of record April 27. y J ,0 "toclt- Hlverslde Western Oil Company 114 a.. . . raencdordhApPrr.f '$5? 8' bi5.lS.'rJ or Ureene Consolidated Copper Comnanv t SloVt'h. Paa,r ,a tBj"r' T"fi " ""'" iu Cotton Oil Production Heavy WASHINGTON. April 24. The Cenan. Bureau report Issued today for the period from August 1 to March 31 shows 4,330 92 tons of cotton seed, exclusive of r.M ..l. -lv,1 nl nil mill. .. . f5?n,P- tons crushed; also 482,066 tons held at rill mills' March 31. Crude oil produced durlnU period Was 1.185,609.174 pounds; shlDned out. 1.084,946.283 pounds; reflned, lO't 462,349 pounds and held March 31 '144 122,399 pounds. Refined oil, produced durl Ins; period, 955,348,973 pounds, and stoel March 31. 320.930,168 pounds. Oil Imported during- period, 6,112,023 pounds, and ex. ported, 96,480.617 pounds; cake and meat exported, 462,463 tons; unbleached Ilnters 144,001 running bales, and bleached Ilnters' 96,041 bales. Sugar Futures Lower NEW TORK, April 24. The sugar futures jnarket felt the pressure of May notices at the .(fart, and first sales amounted to Mout 4330 ton, with, prices 5 to 14 points lower.' It was, saw , that a .teadlnc uban HWTiW' Hanrw amaiHav-HUtll'atraaTt .- . U. "Atl VaJ 4k. -.. l C'OTTO.V IIKI.T 1VEATHKK CONDITIONS NEW IORK. April 21. It was cenerally fair In the rolton bell this mornlnc The follonlns tempernliireH were recorded: Asheillle. Sit (hattanooitu. 50 Merldlnn. Illrnilnslmm, Knovillle nnd Nunlnllle, 38 .Montconirry nnd ltiilelr.h. 0i Mliretrnort. Snn Antonio, Oklahoma. Del Klo. Mckfburi: nnd Mnron, 03t Abilene, Tort Smith. I.Htle Rock. New Orleans, .Mobile. I'enaiirnla nnd WllmliiKton. Oil Memphis. AiimiMn. Thomiij vllle and Jmki.oinllle, O81 (liiUeston. At lanln. ( liurlri.lnn. Saiuniiali und Tiinuia, 08t I'orpua thrlull, 70. , , There ns .01 huh of preilnlintlon nt Jaiksonllle. und .3(1 Inch ut TTiniim. NEW YOHK. April 24. Dcttcr cables than due were entirely Ignored at the open ing of the Cotton ExchatiBe today nnd the tone was only barely steady, prices de cliiiR 2 to 9 points on the call. There was some Rood selllne, .especially In the near months, by spot houses and room traders. Local operators and Wall street pur chased. Commission hout.es operated on both sides, but sold on balance. After the call, the demand Increased and within a few minutes rallies of 4 points had been lecorded. Trading was moderately active during the early part of the session, and it was estimated iiroun' the ring that about 13.000 bales of May were liquidated, largely against purchases ot July nnd October, unco this liquidation subsided the marltct de eloped a steadier tone, and during the middle of tho morning showed fair tallies, with May ruling about 5 points under lust night's close, uhllo later months were 3 to 5 points higher. Most of the demand on the tally was at tributed to coerlng, but there was also buying for a reaction. A sharp ndvanca In New, Orleans stalled a bvylng movement here toward mldafter noon which rallied prices about 27 points from the low point of the clay. Traders' who frequently act for spot houses wero buyers of October, although crop and weather news was generally more favorable today, and some of the spot markets wero easier. Exports for the day were 12,739 bales. Including 3210 bales to Great Britain, 9000 bales to France and 013 bales to tho other points on the Continent. May July October .. December January , March . . . Hpot Vest clciie Open 111.5 10.-J3 18.10 1R.2II 1R.S0 io.'io 10.00 111.17 IK. Ill 18,18 18 22 18.27 1 1 leh 111. llll 10 .10 18.48 18.511 18 .18 18.27 Low 19..17 111. Ill 18.11.-, 18 17 18.22 18.27 Close 10.112 10.47 1R.47 18.5(1 I8..-18 18.27 10.85 Liverpool Cotton J.IVERPOOL, April 24. Spot cotton was 111 good demand today and 13 points higher to the basis of 12.45d for American mid dling. The sales uggiegatcd 12,000 hales American. Imports, 10,000 bales, nil Ameri can. The market for futures closed steady and unchanged to 2 points net lower LIQUIDATING VALUE OF U. G. I. $100 A SHARE Figure Named by President Bodine in Annual Report Earned 13 Per Cent in Year Samuel T. Rodlne, president of the United Gas Improvement Company, says In the ' thirty-fifth annual report to tho stocltlinld. ers that the company's stock has a liqui dating value of not less than 3100 a share The par value of the stock is 350. Por-the year ending December 31, 191G ihe total earnings were 39,410,557, com pared with 39.071,389 In the previous year After the payment of expenses tho net earnings were 37,209,095, against 37,199. 420. Dividends amounted to 34,440,238, the same as In the corresponding year, nnd' the balance was 32,829,095. The earnings un on tho 155,&02,9u0 cnpltal stock were 13 1 per cent. Mr. Bodine, In bis remarks, calls attcn- 110 mto .'I'0 dlsP8l"oii of tho undivided profits:- "In answer to the MtL-iiir,,, ,. . fron) time to time." says Mr. Bodine. "that your management Is ultra conservative In J o.t" .,""""" "om undivided profits, I call your attention to tho fact that the capital of your company, Includ Ing these undivided profits, 311,000 000 fin excess of the securities now held in var lous sinking, funds) are invested In working capital, and extensions and betterments for account of the n.lladelphla Gas Works and will not be liquidated through tho on. eratlons of the sinking funds until tha t'x plratlon of the lease; and tho balance is Itfvested In the securities of varlouc gas and electric companies, the Interest and 'divi rienrin from whlz.li .- . ,. . . " nn ! -- - t iiHiRB up the gross Income shown In the treasurer's statement "Several of these companies, such as th Connecticut Railway & Lighting Company and certain New Jersey gas and electric companies, are no longer operated by the United Gas Improvement Company, but are leased to other corporations. Neverth. less hey still receive constant attention from your executive officers, and In th. Judgment of your board of directors h securities should still be-retained it, the company s treasury, e "Your-board of directors appreciates m natural desire of stockholders for refurn. from their profits which have been Invent In extending the business, and are of h2 opinion that the company Is now establish on such a firm foundation that it la ,, to adopt the policy of distributing- by way of extra dividends a larger proportion the earning, than heretofore, when innua( earnings and general business condition, wilt permit. In pursuance of this nn 8 on April 14, 1917. an extra dlvldVof0? per cent waa paid out of profits i j prior to, December 31, 1916. denied Freight Car Shortage Increases Theishortat-e of freight carcontlnue. , Increase, and la a aerlnn. n.ii.-""" to ,l'AtT April ..., Mny June July AUKUSt . Henteinber October . . Nocmber December January .. February Starch i Illd. NEW YORK COFFEE MARKET NEW YORK, April 24 Tim ,.i... -. colTee futures opened moderately active. .1 ' u decline of 2 to 5 points. Sales on the cat! .' iiinuuiiieu 10 ufiou bags. Toe-Si" !&' !?rt.rt " C108G :::: 7:6o7.s2 7.mot.84 ?:SSJ:j .::: Mis.o2 sioios.os l:iteli :::.A:i38.i7 8:iu8.i7 8:ig:!J i:iil:P8S:S8:g?S Z'Vi 8.42B:44 LOCAL MINING STOCKS TONOPAH STOCKS .. j.. Hid MacNnmara ,uj Mtduny 14 Mlmati Bxtennlon j Montann ..( Northern Star 13 Rescue Hula mj GOLDKinLD STOCKS Atlanta n Blue Hull ou Honth 08 Dlamondflcld II II . , . , ,0- T)jy () Pro 0" Sandstorm Kendall ni Silver rick ;,. ;i4 MISCELLANEOUS Arizona United 31J NeMidt Hill , ih Tecojia .Mlnlns '03 Asked .09 .IS .13 .23 .14 .: .is .03 .10 .01 .01 .113 .0J .15 .42 .23 .29 We are specialists laj Dividend Paying Oil Securities Wo aollclt ordera In the Independent Oils w. i'u.,1,.1 iuiiie ma or lor cash. WINSLOW TAYLOR & CO. OVtulinit ;,. 402 Wldener Illdi. II Unlimt 0587 Philadelphia. Tu West States Petroleum . 1 There are three jrood reasons why you should in,Vwtt&ate this security before investing ,.iniai:y oil shares. M 2ITM '. FIrkt A MHMH HI II Income I Siiiiirajiiiiiiiaffliiiiiiiliiiiiiiiiuiiaiiiiiiiraiiir I Til'.! ' Second yit'i! Monthly Dividends iiuiuaiiiiuiHuiiii Third Production New Wells Active Market IIIIIIIIIIIIlV" xrThe !! an nctivc market on the New York Curb for these shares around ll'rlte today for late information ant tpcctal Circular No. St. THOMAS E. DONOVAN & CO. ' Specialists in Oil Securities 25 Broad St., New York 29 So. La Sails St., Chicago, III. Producing , at a Profit with the llrst unit of Its 'n"nlA' '." eratlon and 25.000,. Sight "" C0Pne" ore in Consolidated Coppermines of Nevada appears to have begun an earning career that will eventually rank It among the big low grade copper producers. The able manage ment expects to double present pro duction In about 30 days fli.r 1 r .uT, d""l'ed report ii',V A, V "lJo th, fiotntblll Ilea of Consolidated Coprriii(iic. JONES & BAKER STOCK BltOKUns Widenw BHg., PhHtdekAU Bejl. Walnut IBOO-l. Kejitone, Baca im. ChlJo'k to. Dl'tct Prltef Wirt, a JQXUB t BAKiSIt. IVldmtr Bldd.. PMloitlpMa, Pa. You may and ma your reoort Ui'-prf on Conaolldated CrJMrralnS!1 "-T'Ut Nam Copperralnea. :; 'I'MiM.rtj, hi l CrSZZrl ?.?""", aa " j ana- casaajai
Significant historical Pennsylvania newspapers