inii
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INTINK 'NATION
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- 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