l;iv r -;-y.',jy vra?v ..-. - -vaB j m
f "V
n
i
, ' V ,
LLY, iftOCk CO.
, ; tHKE
' $1 ::,'mL,ni,
Wat!- navigation CO.
.MNSOLtOATED 4yit
,',.' PRICE, JO NET 4.47
" t ' .
i I'lTTiBURQ. CINCINNATI.
CHICAGO & 8T. LOUIS R. R.
; ,y CONSOLIDATED A'tt
' ' semen a a n
r'!. 120 & 1342 7
VfpHICES, TO NET 4.48
-Pennsylvania company
'i fnl l Af bdai Toiler A.
ir ' I"?
C PRICE, TO NET 4.70
& "'
&-.- ..........
,iif bnuinui biKk.br
-V riiiLAiE!,r;iiA
? .,
FINANCIAL NEWS
COVERING ?Y SHftRTS CAUSES GOOD
GAINS FOREMOST STOCKS IN NEW YORK
Knowledge of Accumulation by Important Banking Inter
ests Results in Heavy Buying Distribution of
$200,000,000 U. S. Cash Is, One of Bullish Factors
.KI.!arR:o.
BANKERS
liuiiaUUIiMl 1M7
321 Chestnut Street
Philadelphia
A Time to Investigate
Your Securities
The international situ
ation has 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 Sta.cs. Requests
from investors for in
formation regarding any
bond, not: or stock will
receive our prompt attention.
Ipilliam P. Bonbright & Co., Inc.
i?
MORRIS WISTAR HTItOUI). Jr.
Manager
437 Chestnut St., Philadelphia
New York l:uton Detroit
1ondon Pari.
l.WMllata r. Bonbrlght Co.. Honbrickt A Co.
--- - ''
Odd Lots
In the buying or selling of
odd lots we' give the same
careful attention we exer
cise in the execution of
, larger orders.
'Armitt Brown & Co.
1424 Walnut St.
Members
New York Stock Exchange
.Philadelphia Stock Exchange
New York Cotton Exchange
Chicago Board of Trade
OmnHnney
AUTOMODilC bankers
' Offer special facilities for In
dividuals or automobile deal
ers lo llnanco the acquire
ment of pleasure cars anJ
for business bouses to flnnnca
the acquirement of commer
cial ca". or trucks. If you
are thinking or ipurchaslng a
car of any kind for any
purpose' the KINNEY SYS
TEM will mako a better bus!
nets transaction for you.
REAL ESTATE TRUST BUILDING
PHILADELPHIA
' Odd Lots
4 Stocks Grain
i Unlisted Securities
isr'Th earn careful attention slven to
mall lots as to those of irsir umour.ta.
HUGHES & DIER
.
. M ambers
( .I'lilla. fltuclc. Kxcliange
1 1 VI
.IV
:i,
Clilcaa.i Hoard of Trado
1435 .Walnut Street
Philadelphia
DIVIDENDS
FP- COMMKRCIAl, TRUST I'UMP.tsV "
.- ,t. . Philadelphia. April 2(1, lolT
jAt. meeting at the Hoard of Directors, hold
mm y. aaartertr dividend of four it) per
jr. payable, on May 1, iuj. to abaro.
H.nVHU VII li'V BViM Vl'lHlHi
Ska wilt oje ruallcl.
. ',i- yr. BTKHFKBT. Treasurer,
i bwb .isaiS".? ,,4.w. ovvnat
i-r.uaiipnu. April a. ln
fc ntAliMA.
J.-. . v " ji.nAriwi waanitr.
MATUtN.U. BANK
PallaJ.lai.la. Ajkrll 24. 101T.
7"aVfWLft8B?i. -M-J
o
i&
MOW VOtlK, April 20.
Pronounced strength was displayed In the stock imirkct iiRtiln today, with
urgent covering of BliortH forced by tlio knowledge, of persistent accumulation .
of mnny stocks by important hanking Interests. There wore, many factors
which entered Into the situation on the bull side, one of tlio chief hclng the
distribution of 200.000.000 of tfnlted States (lovcrnmctit cash received through
tlio sale of Troanury notes, which wiih transmllted to .1. I. Alorgnn & Co. In
ten checks of $20,000,000 each.
This cash payment was lellectcrt In the heaviest clearing house balances
hIiico ihu payment for tho Anglo-l-'icnoli f per cent bonds, today's cleat-Inns
amounting to more than $1,000,000,000. Tlio tinilerstiindlng Is that as soon us
tho banklnjr''iiKents received the cash the deferred drafts of Ilethlehcm
Htecl and other corporations on Allied (JoveriimentH were Immdlately paid,
rollcvliiK somo of those corporiitlnnH from financial tension that had recently
becomo a sourco of uneasiness.
Tlio news of tho new basis for uovernmentnl copper ontraetM wns also
an Important factor In dotermlnliiK timrket movements and was mi Incentive
for heavy buyliiK of till the copper stocks.
In addition to this Incentive there was the continued aeciiimilatlon of Ctnh
Copper for Kennccott Interests, which made t'tah advance to ll.V,. Other
cojiper stocks were also stronp, Anaconda moving up to 81.
Ilethlehcm Steel "TV was the strongest n the Indiistrlals, advnneliiB from
12P,i to 127. I'lilteil States Steel common, after seli'iiK nt 1ir.;, rose to ln-li.
Kallroad stoeka In the afternoon became prominent, with lteadhiB iiiovIuk up
from 9IU to 07. Then the Murine Issues reponded to reports of Important
developments nt n meetlriR of the directors, the preferred ndvnncln? fiom
77 !i to 81 9i.
There was active tradltiR In the bond market all tlmitiRh the day, with sumo
of the forclKti Issues yleldhiK fractionally under mi Iiiciviim-ii supply. St,
rnul -I'.is were slroiiR, ndvnnclm; to SS',4. and l.'nlteil l'.aliways of San
Kranclsco -Is were traded In at Sft'c. to 37.
CURB STOCKS NEARLY ALL MOVE
UPWARD AS DEMAND IMPROVES
NKW YORK, April 2.
Substantial Improvement was noted In nearly everythlnR traded in on the
Ilrond Street Curb today, with even the motor stocks in Rood demand at
higher prices. The Standard OH Issues made Rood progress toward recovering
losses sustained two days ago, when these stocks wore disturbed by the report
of the Federal Trade Commission. Standard Oil of New York moved up from
2SS to 288, with the buying based on an understanding that n very favorable
report will soon be Issued. Standard OH of New 'Jersey sold at 022.
Independent oil stocks were strong also, with .Merrltt Oil advancing to
2G and Midwest advancing 2 points to 13.
"The mining stocks moved In tho same way. with Magma, the most promi
nent of this group, ndvanclug to M. Mllfnrd wns In brisk demand with sales
at 1 11-1G. and Hig l.edge was traded In at 3 and ?,.
The feature of the Industrial list was the vigorous buying of Air Media
tion, which ndvnnccd 4 points to 71. Kvorctt lleany & Co. was strong, with
sales at 22Vi. and National Conduit sold at 3,".
I'nlted Motor, which n few dayn ago sold at the low iccord of 20 '.4 .
advanced to 3Mi. Chevrolet moved up U points to 1".".. Aetna Explosives-
was traded In nt 3r;
21 to 21.
to 3"
l.ake Torpedo at
to and Submarine at
Akil. (palo)
i
:t'i
"3
Iot"
no
"Ti
H.-i
!)
3!l
:ti
(in
tiiti
Am Heductlnn "1 ""
Am Stores ''' "'.'j
Am Kilniatra 21 ';
Aetna Kxiiloslves 3! !V
Am Hrlt Mfg '-
, Af..w.-,,il 'IV. "H
Am Writ Paper R'i
Can Car Co 2"
Can Car & Kdy lret (id
Chaicnnl Iron ''j
Clicvro'ct Motors !W
Ciauip RS
Curtlss Acroplatio 2"
Cnnven Tool ' 1 Hi
Caibon Steel . . . , Hi)
Emo-son Pliotuigraph .. H',i
KoJoral Oyo
Haskell & Darker Car... 3HM..
Hcmlno Mfg 31
Katiiedlcti Hrouzn pref . . I'll
l.aka Torpodoboat 1 !i
Lohlgh Coal Salt's H5
Lima Kcco fl'
Maxim Munltlo' i 'I'A
Maiilu Arms
National Cord lit . .'.
New York Shipbuilding.. 3H
North Amer rnp ruip-
OtW Elevator
I'eerless Motor
I'oole Kngineerlng
t'lerce Arrow
Ilcddcn Truck
Santa Cecilia
do pref
Scrlpps I'.ooth
S S KrcsRP w I
Standard Motors
Steel Alloys t
Siibinailne
St Joseph Lead
Todd Shipbuilding
Triangle Kim
I'nlted Profit Sharing. .
V S Steamship
Culled Motors
I'nlted Sugar
World's Kllm r 7i
Wright-Martin Air Vi ":)i
5C!nu Concent 3Vi '-'
STANKAKl) OH,
Illinois 320 32fi
Ohio 317 3ns
Prairie Plpo 2 30()
Stand OH of California. SOS 272
Stand Oil of New Jersey. flIK 123
Stand Oil of New York. .2H4 2HH
iM)t:i'i:M)i:xT on
71
3'!!
:i')i
inn
12
K"i
3
"Vi
r.Va
2'l
7 7 Hit 7()
a 1 tj , 31 31 Vh
3H 12
5 li'x '
r.a fit
12 15
7.-. us
40Vi 13 ..
tsVi m',4 '
as 3(
li l!H
3ii in
l (HI 11
13 V, 1ST, ..
7Th '.i "T'h
2IH4 2 Hi 21
17 H'.i 17 Vi
S3 5
I Vi I Is I i
W
.'', 0V4 IHa
331j 3IMi 33
sovi 3r,i; ..
111.1. .
Houston nil 30
Merrltt Oil 2.-.i
Midwest Itcf 131
Met Petrol I;,
Ohio Kind , I!
Oklalionri P.ef lo'i
ocage I lotnlny !) !
Itlce ;
Sapulpi Uef t. . in(,
Sttuoyali 1 1
West End o ft ii 13
AIIMNfS STOCKS
Alaska Standard l.t
Atlanta I Hi
Hlg Ledge 3
llutte Cop ft 'Aiw !)
Hullo New York H(
t "nshboy 7 Vi
Con, Ariz . . . . in
Einina Consnl Hfc
First National 2
lioldfleld Merger .
Coldlleld Cons .13
Coldflcld Klorenco IS
(oldficld ICewanas 13
Orceii Monster 1
Jlecla Mining :
I lows Sound .1!)i
InUependene Lead .... II
Jerotlie Verdo 2 f,
Jim Ilutler 7(1
Jumbo Extension to
Magnate Cop so
McKlnlcy-narragh 4!i
Magma Copper I!)
Mother Lode 32
Mines Co of America .. I")i
Nevada 1 1 His 2n
Nevada Wonder Hi
Nlplsslng 7.
Itay Hercules 3
San Toy II
Tonnpah Extension 3
fulled Verdo 3Hi
Y'S. i-ln.r
AHkil (.hIo)
22 21
2.1 M- SIVA
13(1 131
I V. I Vi
20
inji K)'!A
'. !)',A
Vi Vi
inw i (i vi
1 I
1 .1
.in .in
13 IIVj
3Vi 3V.
! v;
l')i ..
7 Vi
3i 2Vi
1 Vi I Vi
SVi ..
7 r,
n i ;,n
21
17
H4 . .
7-Ji 7
0
12
2Vi 2'i
7 70
13 11
S3 XI
.13
.11 4!)
31 33
7I5A
3TA
in
3VA
30i
3' A
38 J
Harnett Oil ft ins..
Cosilen OH
Cor.deu & Co
Elk naslu
Federal Oil
Inter Petrol
13
13
mA
n
13
STorus
13Vi
13 V.
IOTA
I'.A
13i',
13VA
I3VA
l'H
ti
13
West End Con
White Oaks
White Caps
Yerrlngton ..
7()
3Vj
Hi
3t
IIONDS
American Smelters .Is.
Atlanta Charlotto .Is..
Bethlehem !s
Cosden Oil Cs
Conden ft Co lis
Erie 5s
Ilusslnn Hov B'ss . .
llussian Oov O'ss
South llwy rs
Sinclair Oil lis
Todd Shipbuilding (is.
N Y State 4s
Now Haven 5s .,....
, 01
, OS
(18
. 100
07TA
. 8.1 Vi
. 1)3
. 07TA
.111)
.101
. lo.iv inn
, 1)H 1)81,
1 1 3-33
3.1 33
I) t Vi !) J Vi
!)80i . .
18V, !)8VA
mi inn
103 103"',
1)8 VA 1)8
8.V' 8(1
1MV6 1'8
8 VA . .
HO'j ..
103
MONEY-LENDING KATES
NEW YORK Call money opened at 2J
per cent for lending and renewing
Hates on loans secured bybgood mixed
ntor.k exchangs collateral are unchanged
today at 2'i & I per cent for sixty days, 394
i Hi per cent for ninety days and 4ff4U
per tent for four, Ave and six months.
Pilmo bank acceptances are unchanged
at 4(Ir3Vi per cent for Inellglblcs and 3',J J
3 jior cent for cllgibles.
I'llII.ADIil.rillA Call, 3',i per cent.
Time, 44&5 per cent. Commercial paper,
three to six months, 4',S'0Ui per cent.
LONDON Money V4 psr cent, un
changed. Discount short bills 4 per cent,
unchanged; three-month bills 4ai per cent,
unchanged.
BANK CLEANINGS
Hank clearing today compared ,wlth corre
pondln. day u. two yr.lol m
Philadelphia t(12.4Dn,K(IS 37.3:ill.4.13 133,037.743
Itaalon ... 4H,7N1.3I1U .13.83IUI-I:! 'J.1,4117.1.13
New York.l.()7n.34.41-47l)..Wn,ll,.'7 3.11.3ltll,t)33
Chlcaso .... 88.303.837 0S,S3H,33il 48.3.H,(Itl
Bank of England itescrvc Jumps
LONDON, April 26. Tho weekly state
ment of the Bank of England follows:
Total reserve 35.470,000, Increase C8,on0;
circulation (38,227,000, Increase illC.000;
bullion. 56.247,000, Increase 180,000;
other secur'tleB 114,436,000, decrease 9,
607,000; other deiiosltB 117,249,000, de
crease 7,289,000; public deposits 52,450,
000,' decreaA 2,318.0QO; government secur
ities 37.472,000, decrease 102,000. The
proportion of the banks reserve to liabilities
la now 20.90 per cent, against 19.70 per. rent
l.at"u-MV anA SflK Tier feant In thin tArW
tact rtwr.-'-The Cleaelngs through the Lon-
4m ' banks Vor the week were 305,110,000
amiMt'.f,no,0 ut week and 176,
M4.X to earjttiyer, , f
-?
FOREIGN EXCHANGE
NEW YOItlv. April 20. Russian exchange
continued depressed. wltheahles quoted at
28.33 and checks at 28.25. These are the
lowest figures of this Immediate movement.
Italian French, Spanish and Dutch ex
changa displayed steadiness. Scandinavian
exchange showed little feature; business
was light.
Quotations were:
Demand sterling 4,75 9-lfi, cables
4. 70 7-10, sixty-day bills nominally
ninety-days bills l.T'n.
Krano cables 5. "OVA. checks 5.71.s.
Llro cables fi.90. checks 6.90 i.
Swiss cables 5.13, checks B.14.
Oullder cables 41 ?i. checks 41 Vi,
Pesetas cables 21.90. checks 21.70.
Stockholm cables 30.20, checks 30.
Chrlstlanla. cables 29,75, checks 29.55.
Copenhagen cables 28.60t checks 28.40.
New York Stock Sates
Net
High. Low. Clone, cliae.
Advance Itumety.. 17 lOi KIM V
Alaska did M 7'. 7 1 '-
Alaska Juneau ... 0V4j 0V4 "Vi
AlllB-Chnhnors Co.2flV4 891 .80W
do pr H5 H4TA W
Am Agr Client.... pi ' OOTA 01 2
do pr lot lot mi -H
Am licet Sugnr,. 04V4 D.1M "3 ...v.
Am Can . .v 4fli' 13TA 4" Vi
do pr 104TA in Ma ""T" '
Am Car ft Kdy Co 08 n7 05 Vi V
Am Cotton Oil ..40 In 4i
Am Hide ft Lea., J3)i I3V4 '3V4
do pref D3Vi HA 62 V4
Am Ice Sec Zlityt S.I1)', 231i Vt
Am Linseed 21 20V4 2Hi H
do pief ., litVi Vi 7V4 '
Am I.ocomotlvo.... 00 ns', no Vi
Am Mnlt 12 11 ""Vi V4
do pref (131,4 12 (13
Am Smelting . ...l()3Vi KtnVi 1HA '.
do pref H3i)i ll.'P', IWi VA
Am Sleel Fdry... nnvi 3V4 Vft '.4
Am Sugar 11?TA 112 II3TA H- ',
Am Tel ft Tel... 12304, IS3V, 133 !A
Am Wool.... 30TA 30 3 -I- Vi
Am Xlne ft Lead. 33 Vi 3IV4 33 Vi I1i
d.) pr no (i.l V en
Anaconda 81 7VA !! -t- I
Atchlrnn 103 1113 lll.l VA
Allan (1 ft W 1..IO0VA l)0!4 08 -t
Unlit Loo Bfliy, nr.Vi ft.'.Mi Vi
do pfd loo "A too VA (""VA
Halt ft Ohli 77V4 7(lVi
do pfd 7(1 7(U,
Harrelt Co
Ilaloiillns Mining.
Ilcth Sleel
do II
Brooklyn It T. . .
Burns Bros
llutte ft Sup Cop.
Cal Petroleum ...
Can Pacllle
Central Leather.,
Cerro de Pasco. . .
Chandler Motors. .
Ches ft Ohio
Chi Ct West pr..
Chi Mil ft St P..
do pr
11
11
7(1
ill
I
1 1 '!
13.1 111 Hi 131
137 '131 13.1
il.l Vi - 0.1 US
13 HA 13 HA 13 HA -r Vh
4IV4 13', 13 "4 Vt
Vi
31)
insy.
80
30
118
Ol'li
3.1
83 Vi
118
l!V
101
80n
3.1 Vi
37
nnvi
sir,
831,
118
I!) Ml
mi
8r,
30
!)7
(II
3.1
83
1
l"
fl'i
-y,
IVA
Chl ft Noithwest.iuy, III
pr.
Chill Cop
Clilno Con Cop
Col Fuel ft Iron
Col (Jus ft El .
Cimsol (his . . .
Corn Products
do pref
Crucible Sleel .
Cuba Cane Sgr
do pref
Dener ft II (1
Dome .Mines .
Distillers See
Driggs-Seabury
Elei; Star Battery III
Erie
do 1st pref . . .
do 2d pref
Fed M ft S pief.
Oaston Williams.
(Ion Chemical Co
ilencral Motors .
(loodrlch It F ..
(Irauliy Mining
1
.1.1 y,
no
MM,
13 V,
3ty,
mi Vi
0 1 V,
17VA
my,
31 Vi
ir.'A
1.1
28 VA
12VA
33
3!)
33
233
IK)
33
81
At
48y,
I Hi
112
34 V,
flllVi
ri
HiVi
9114
33 Vi
i.iy,
ii
77
01
37 V,
toy,
33
3!)
33
333
1 11.1 Vi
r.oy,
80
4
118
111 Vi
33
nlV4
!!,
11
I 13 V,
34
1)9 Vi
02 VA
I0V4
I) Hi
3 1 Vt
1.1 ,
1HA
77
01
37y,
4iy,
33
3
33
223
107 V4
nu "i
81
4- V,
- V,
- v,
I Vi
)- V.
i- Vi
I
V4
iy,
-t i
i
3Vi
3
1
(Irt Noithern prf. .11DV4 lln'i lloVi
(It North oie ul. ::! 33V. 33V4
13
. 01
.101
. 3 (IV,
. .13 VA
. .18 'A
1,2.
(lieene Can Cop
Culf State Steel
llnrtman Corp .
Illinois Central.,
lot Agrlcul
do pref
Inspiration Cop.
Interbor Cons Corp loVi
ilo pref .17 Vi
Int llnrv of N J.
do pref
Int Met- Marine. .
do pief
Intend Paper . . .
Int Nickel
Jewell Tea
'nil City So....
Kennccott Copper
.Lauk Steel
Lehigh Valley . .
Loose Wiles Bis
Lou Is v ft Nash. .
Max Motor
do 1st pref .... (18 Vi
do 2d pref 3IVj
May Dept Stores. . ,1!)TA
Mex Petrol 8!iy,
Miami Con Cop . . .43!)',
Minn ft St L new.. 30
M S P ft S St M. .Hill
Mldva'e Steel BliVi
Miss Pae etfs OVA
do w I 21)
do pref w 1 3!)
Mont Power loo,
Nat Biscuit IK)'.
Nat En ft Stpd... 33
Nat Lead .17
Nov Con Cop 23ai
Now O T ft Mex.. 1(1
N Y Cent ISV4
N Y N II ft H 42V,
Norf ft West I3(iy,
Nor Pacific losy,
Ontario Silver .. ov,
Ohio Oas 137
Owens Hot 1)3
Paeinc, Mall 33
Penna It It .13 V,
Peo Oas ft C 84 Vi
Mere Marqt w I. .. 33
do pfd w I 0.1
Phlla Co 34 V4
Pitts ft West.... 30
do pfd i1VA
Pitts Coal ctfs. . . 17
do pfd ctfs ....11.1
Piessed Steel Car 70V4
Pub Serv Cor N .1.123
Ily Steel Spring . . SO
Hay Con Copper. . 30 VA
Heading 7Vi
Hep Iron ft Steel.. 83V,
St L S K IDV.
St L ft Southwest. 31)
Sinclair Oil ni'li
Seabrd A L pref. . 8 Hi
12
1211
01
1(11
2 (IV,
33 Vi
no
in'.
.17 '
13
120
(II
103 V,
30
.11)
3(1
ii y,
.17 Vi OVA
II3V4 H3V4 U3V4
II1TA 1 1 HA 114TA
38 V, 30VA
7 7 Vi
:nVi
41
18
32y,
in
8.1 V,
0.1VA
1-3
V4
.1TA
1V4
V4
Vh
4 V4
IV4
TA
81 y
to Vt
13 Vi
3HA
SS'li
10
80
00TA
31 31
3iy, 131 Vi
.10VA 4!V.
08 Vi
30 Vi
noTA
88
43VA
1!)
ins '4
iwy,
I)
28V4
.1!)
(Ill
liny,
33
n.iy.
23
10
94
tl
129
134'.
DHA
31 14
nsA
83 TA
23
0.1
314
2iy,
13 M,
14
HA
4 'A
4- nA
1
4-
4- Vi
Vt
"
41
1 Vi
1
V4
Vi
1
2
4- TA
4-4-
:
Sears Itoebuck . . . 178
Shattuck Ariz. . . . 2(1
Slcss-Shef St ft I.. 1!)
Southern Pacific. . D.1V,
Southern U H 28TA
do pref S!)
Studcbaker 8!)
do pref t()7
Tcnn Cop ft Chcm 17
Texas Co 211
Thhil Ave n It... 30
Tobacco Products.. 33 V4
Trans 7v Williams. 4254
Cn ling & Pap new 00
Union Pncinc ...138y, 137 137 1VA
do pre! 80 7!) jA 70 VA
Unit Alloy Steel.. 44 41 4 rf-1
Unit Cigar Stores. 101 101 101
United Fruit ...1304 131V4 130 1
Unit. Itwy Invest. 0 8V4 8
l!SCI P ft Fo .. 10 10 10
U S Ind Alco ..1124 1HV.I 110 li
U S .Hubber 88V4 384 VA
do 1st nref ... 100 1004 100 4- Vt
'U S Smolt ft Itef.. flV4 Sni 4-
'V S Steel 111 113 110A
27
80 VA
in
I HA
31)
22
lV4
8.1 Vt
0.1 TA
21
13 Hi
40
(18 V4
31
!)
118 Vi
424 4-
SO
10!)
38T
a
21)
B9
inn
now v.
33 4- Vi
30TA 4-2
23 4- TA
10 1
(My, y,
Wi Vt
i2y, iy.
103V4 1034 4- Vi
(IV. 0V4 4- A
134 Vi 3y,
01 1
33
83 TA
23
0.1 3V4
34
20 4-14
04 4-iy,
47 1
114V4 113 4 V4
71 73 4-1
123 2
BO 4- V4
20 y, 4-
nov. 4-1
81V.
1!)
30
IV, V4
3 Hi 4- V.
177'.! 4-3V.
34 4-
10 M
!MTA 4"
28 V4
.11)
87 TA
107 4-IV.
17 4- TA
308 14
3() 4 VA
B3 4- V,
42 4-1
no 1
122
104
20
1)4
80
I!)
' 3(1
niA
31
170
334
4!)
1)14
284
38 V,
804
100
10
2118
30
034
424
00
Sales in Philadelphia
. Net
Hlh. Low. t-'lone. thaf.
0 Am a.ll(lV4 IIJV4 1JM4 Ji
30 Bald Loco. B4 H- "JVi
20 II ftStcpf Hi 32 J
10 Bait ft O. 704 764 764 ;,
10 Eiec Stn.r.. 62 02 J - H
m Erie 27 27, 27
133 O Asphalt. 23 23 , 23 .....
in Int M Mar 27 27 21 4' T.
110 Ins Co N A 20 2 26 U
100 Kenno Cop 4.1 43 43 4- Vt
1873 Lk Sup Crp 204 lTfc 20 Va
110 Leh Nnv.. 70V. 70 70 .....
80 Ncv Cons. 23 23 23 4-1
30.1 Penna It H B3 33VA 33 A
0 Pa Salt M. 044 V4 044 .....
811 Phlla Eiec. 334 33 324 V.
130!) PUT tr cfs 30 394 20
30 Phlla Trac. 79 704 704 ...;
bo llwys (len 04 4 4 n?
110 Heading .. 00 03 V. 0 -MV
300 Ton Hel . . IV. 4V 4
1.1 Ton Mln .. (IV. "JA .--
441 V (J I .... 10 804 884
033(1 US Steel.. 117 1134 113 4
30 War I ft S 04 04 04 ;
no W Cramp. 88 88 88 1
IIONDS " ct
IIIhii. Iw. I"11- t'l,R'
JI200 Am Ons ft .,
Eiec 6s.. 0.1 4VA 03 V4
1000 City 4s '22.100 100 100
IftBOII Eiec ft Peo
Tr In .. 83 82 83 J-l
mono Leh Nav .,
cons 42s.inn 100 100 2U
lono Lehigh Vnl
ann Cs.,131 131 131 V4
27000 Penna Co
gen 4 Vis
w 1 tiny. on ooy, .....
3(inno do en t'vs.104 101 101 U
.1300 Phlla Eiec
1st Bs ..ion. Hl4 HIV
11)110 Heading go ,,
4h 02'. 024 024 4- 4
3(ioo Un Ily ic Is 1() 7() 7()
30IHI W .1 ft S S
1st 4b '36 0.1 0.1 0.1
New York Bond Sales
Vrir l'a -nl l 8114 ' nail
vine i"e luMl 34a.im)H loo W
Indiana. Stc.:l 3a 1 14 114 1
JlniMi Amcr Aur 3
."lino Amer Cot Oil '"
137HIIII AiiKlii-lrcmli n .
311111111 Aini-r Tel ,1a
jciiinii Amer Writ Pup "
.loon Armour t.'o 4',jm. .
'JCP..IMI Atrlilmin ik
limn ill) vv In
e.'.nnll iln c-v In
i'OOll ll.ill it Uhli) 3'ns. .
jiiuij di Ak
30011 do l
limn iln Kwn 3'is . . .
lono llrnoklin It T .) .
1(100 Can Uuvt As HUH. .
Illllll Cal Uaa & Kle "
.1111111 Cent l.eiilhi'r lt '
union UIipk & Ohio roiiv .1
38000 Chl 11 & Q ri-K 4k.
iidiiii C At & St 1" (
ATOiio do rM 4vk
joiMl do conv Ak
Alum do cv 1'4k
limn do Bon -I'-jk
fioiio t'li I It I & I' Si. . ..
'Jlion do k . . .
r.llliu Clev Sll Lino 4V4H.
3'.'IIUO Col Midland l 4k.
loon Col ft South 4'ik..
14.100 City nt ParlK Ok. .
lono Chl ltw Co Ak. . .
70(111 DIk Secur Cnrp .1.1
noun Du I'nnt I'owrt 4'
rioiio
.11111.111
mnn
r.(KK) lnliTl) .Mnt 4'4k
40(10 Inter Mer Mnr Ha. .
aoiiil Inter Aar Ak .....
noun jnn nw o s 4'a. . .
I10110 do new l'.a ....
3000 I.nrkn Steel fs HMO,
1300(1 !.)( Sh deb 4 1I3S.
14(100 List & M T Ak
niino City of .MarKi..-K (is,
11)000 Mo Knn A T lit 4i. .
toon dd I Mix
IKIIIIO Mldlllle Stirt Ak. . .
300(1 N Y C A II 3V a . . ,
AIIIIO do (Is
;inno do 4Vi a
0110 N Y OIUPI'...
4110(1 N V (! k II cv 3Va
11000 N Y rtwy Ak
.000 N Y V C II 4Via.
Linno Nor Pae 4s
ninoq Penna (ten w I 44 a
130011 do pon 4'ii
innon IVra Mara Ai ....
AOO0 np Ir S As ....
lono Hlo Or & W lNt 4k.
Kinno South TIpII Ak.
lAnnn South Poo cv 4k ..
mono do cy-..i
"J00O South llwy Ak
30 1'ex ft N O It It Ak.
10000 TexnH Co cv (! ...
11(100 Toklo Ah
1(1(10 Trl-Clty Ak
1000(1 1'nllnl Fuel 0k
4AII(I(I II Oov Ak
mono U S nnbber ct Ak. .
110(10 dn CiK
0(1(1(1 tin ltw S V Ik ,
3700(1 UKotOII I Ak. .
4S."ll(IO do AH" 1018 ...
307000 do A'4b mil) now
74000 do AHk 1(111) . . .
S300O do 3V4s 1031
300011 Wi'Bt Mil 1st 4k .
3.(l
HlKh Low Jim.
.101 lill lot
. mi lid. !,
. 114 t(3'i 3'
. mi's iiw. ll1'
. 1I3T. 1)3'. -'?
1... II K l)laA
.'.'.'.'. 1 03 Vi 1112'fl 1"2
iiimi i()2j l'lHi- i'!;-!;
, III). mri
. 117. Hi. '
. NK", SX- l,,
. 88 SH SI
. 7:1 7:i! 7.1V.
. 1)7 1(7 J
117 1)7 7,,
.1011'. loo'.i H"'V.
. noii no , I"'..
117 S iniH ;:
. S(li Ml' "0!
. 8NVV) 88 j'.l
.101 101, i"l
. 1143 I'l'.S "2
. 117 117 (
.llMI'i
)(l.
S(l"
mi1..
D.'l'.i
tl'J
lO.l'j
88
101
11 Hi
1)7
7",.
100'.
WIS
Mi
ROT.
iinji
(12
inl4
TO
111014
mis
HVj
Ml!,
11.1l4
n:i'.
1:2
1113'j
SIH4
oiiW
mm
. Til
. "II
. 7AS
. 1I7S
"'
. OSS
. M"t
. (17'i
. 3d
. PI
. mi;;
.10(1.
. Ill
. MI'i
. 11(1
. Al
mm
7(1
71)
01 ;
no?.
1)7
92
IV
I'd'i
l):i'4
711
"II
7.1V.
(I7S
II2'
iihS
tins
(I7V4
311
III
so'i
mni
111
sn'.i
1111
30
(12
111 VI
mi
9:
117
112 H
!IMV"i
mis
117'.
an
111
Ml',
inn.
04
sn'A
no
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112
ni i
no
i'i.
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lou'4 KiiiVA loo'.i
7(1 id ill
fl'l (III (HI
SS S3 S.1
ino'i ion ion
BS'i I1KU DSVi
loi'i, mm mi'.
1(I3'4 103'4 103'4
77S 77". 77.
1111 no
limn inn
in.-'; inn'i
ST. K7.
101 101
:t7 37
07 'i 07 'i
inn' 4 ion
un 1110
II7'7 nn
mis li(i
To 70
on
inn'A
10.1'i
S7,
101
:n
1)7'4
inn
ion
mi
iic,
70
Cotton Buyers and Sellers
NEW YOHK. April 20. May Morrison
and Cone hought ; Hopkins and Clearman
sold.
July Mitchell, Hoj -er. McGee, Burnett,
Guild, Watklns and C. Hicks bought,; New
man, W. Oumoens, Cnrdoza, Wilson and
Lester sold.
October C. Hicks, Downs, Carpenter and
Mitchell bought; Bartlett. Wlggln, Wilson
and Lowensteln sold.
December Hlordan nnd Downs bought;
Hartcorn, Hentz, Young and Hay sold.
Sugar Futures Inactive
NEW YOHK, April 26. The market for
sugar futures opened Inactive today, with
transactions on the call amounting to about
f50 tons. Klrst prices were steady nnd
1 to 3 points higher, but there appeared
to be little disposition to trade cither way
aggressively, ring traders awaiting develop,
ments In spot sugar, where conditions were
uncertain and the demand from refiners
slack. -
TRADING IS NOT LARGHJ UJN luuau pi
1Kr1iNTVAxTni -dttt TWF, TONE IS STEADTrV!
JtJALnVlN VJ JJi, w - --- . - -,ti jl
Steel Common, the Mo'st Active, Makes Small Gain-Rapid"
m..j4. rvfifipnfps and Lake Superior Lead M
ii-aiiBiivBi(w""
Home Stocks
Business on the Philadelphia Stock Ex
change was not large today, but there was
a steady tone, nnd, while the demand was
not grtnt. tho majority of price changes
were upward. Hesitation was In' evidence
soon after tho opening, when there was n
mther bullish feeling, and brokers .not
seem to hnvo n large number of hulng
""'"nl'tcil States Steel common, which held
most of the attention yesterday, when more
than 12,000. shares changed hands at a
it nilvanee of 4 M.intft ;h the n ort
nctlve stock today, but It did not show
much vigor, and the total sales ,ui to near
the close were only about SMfl: shares
The first sales showed a .mall Uecl "'from
the last price yesterday, but after lropilnir
us low as 115, there CBn,;ti.vrc"0),car,n
which carried the Issuo up to 1175.. a gam
of Hi.- In tho afternoon there was n de
cline nnd the close was only a fraction
above 'he last of yesterday.
Hapld Transit trust certificates were the
most nctlve of the strictly homo '1st and
gained a fraction on sales total Intr about
1000. Of theoe sales one block of ('
COTTON PRICES DROP,
AFTER EARLY GAINS
Spot Offerings and Prospects of
Unsettled Weather Encour
age Scattered Selling
t -OTTOS I1KI.T WIIATIIKR (.OSDITIOSH
NKW YORK. April 20. The follow ne
l,m.!irol..r"i irre rerordeil In Ihr ro ton
ir thin inornliiicl 1''l",",1?l,'' ",V':
llle. Bit Aiheillle. 1'ort Sinllli an 1 Ka
le lih. SOI Utile Kork, JIfnipl.li pml WH
in n" on S3 "in Antonio ami rliattnnnof.;,
? LrViiorL Ijiui-IMf ,..0,. AmuhU.
VirKnurK. -":"""" J'V'.V' -.-;i 1- fill
lllomliitrltunt . ,1 1 II II Hi ILIII1 iflll -Knirii --
Abilene. Tlionmat llle, nnd Tamna, 00 1 eiv
Orlfiim, Jlolille nnd Savannah. 0H1 t.al
"r.lon. IVnaneala nnd ChurlfMon. ,10l Cor
itti.i C'lirUtl. 72 . .......
Thfrr wiik .03 Inrh or prfripiiiuion n.
Motont .04 bid. at Sinannnh. AiiKSitn and
lort Smllhl .00 Inch nt Wllndnitoni .12
Ineli nt Knolllft .14 Inch nt Tl.onniK-lllf I
.10 Inch nt flinltaiiooirii,
NEW YOHK, April 20. Huslness wns
small at the opening of the cotton market
today, there being but one sale of May
and no transactions In January or Marcn
options. Tlio tone wns steady In response
to better cabled, than due and prices were 0
to 10 points hlcher, Liverpool was a mod
rato buyer and covering In July by shorts
was noted.
After the call there was a-slight increase
In activity, but the demand and supply held
about even and prices continued at near the
Initial levels.
Liverpool was 15 to 10 points net higher
nt tho time of the Mart here; prices were
due to come 7V4 points up to l's points
lower. Private cables reported some Con
tinental long Ikiuldntlor In the near months
nnd buying by tho Continent of the, distant
options.
Reports that the South was offering spots
more freely to New England mills and pros
pects for unsettled weather In the South
west encouraged scattered selling here dur
ing the late afternoon. The pressuro was
not aggressive, but there wns no Important
support and active months worked nbout
0 points under last night's closing figures.
Yea. CIokc. Open. 11 a.m. 12 m. 2:31
....in. si tn.sj in. si lo.si 11177
,...lfl. AH ill. (lit lll.lll 1II..17 11I.4S
, ...1N..11 18. All 18.31 1K..1II 18.42
....18.38 1S.II7
18.111
....20 01
changed hands at 30, the high prlco of the
forenoon, uioe-r nu.n,i, unma un, not
appear on tho tape. In the afternoon the
price sagged to 29.
Tho greatest gain recorded by any stock
was made .by Heading, which reached 954,
up 1. nlthough Inactive nnd tho sales ng.
grcgatlng only 100 shnres. Pennsylvania
Hallroad was. unchanged nt 63 Vi. Lake
Superior Corporation,, tho second most ac
tive local stock, moved up n- point. Phil
adclphla l.lcc'trlc gained a fraction and
Tonopah Mining was unchanged. Tho for
mer showed n fair amount of nctlvlty.
William Cramp trust certificates, which
advanced 2 points yesterday, lost half of
that gain, but transactions were limited.
United Ons Improvement lost a fraction
nnd was not active, notwithstanding the
good report of business for tho first quarter
of 1017 which was mado public yesterday.
General Asphalt was unchanged nnd Elec
tric Storage Battery lost half n point.
On 11 $1000 sale of tho now Lehigh Val
ley Hallroad annuity 6s there was a. loss
of 6V2 per cent, the prlco being 131, as
ngnlnst 13CV4 on the last previous salo two
weeks ago.
NEW YORK COFFEE MARKET
NEW YORK. April 20. Tho market for
cofteo futures opened steady unchanged to
an advance of 1 point. Trndlng on tho call
was moderately active, sales amounting to
0500 bags. Tho early estimate on May
notices placed the amount nt about 20,000
bags.
Today's Testerday'l
opening ilom
April -..a 7.C1W7.M
May 1 7.8.i5T7.S8 7.S.Vr'766
Juno ,. 7li3-B7..i
July 8.03W8.07 S.njtfs.oe
Ausu.it ,, . S.12WS.U
Mrptember B.L'llWB.SS S.lna'S.so
Ortotwr N.2.WS.:tl s.ttf TM.?
November 8.3(1'" .S..1.1 .yni ijfa.33
December 8.30W8.40 S.;,SS'8.I0
January H, I.11M.4T
February 8..11 -if 8. .11
lurch , S.AAWS.fll fi.A738.k8
LIVE STOCK QUOTATIONS
CHICAGO. April 20. HOdS nec-lpta. -.i.ODI)
bend, Market Htronff, Ac to 10c hinder. JtlxM
nnd liutcher.1, Jl.VJ.KiHA.nil: Good lunvv, lir.,21
Wlil.li.1; mush henvy. 1,1.20fl) 1.1.80: light, 14.M
ffil.l.M): ptss, jn.s.ipinn.i: hulk, tl.1 3(iis...v
I'ATTI.K rtfcfliits. 40(11) head. Market Hlendv.
P-eevea, $00113.40: rows and heifers, t.1.70
11.20: Mockers nnd feeders, (7.1501U: Tcxans,
$0. Miifr 10.20: calves. $slr.'.
SHHKP ltecelpls. ln.onn hend. Market slow
to ateady. Native nnd western, tlO.7A13.10:
lambs, S12.2.-I01O.CII.
Extra for Pure OH Company
The Pure Oil Company has declared a
regulnr quarterly dividend of 0 per cent
nnd nn extra dividend of 4 per cent, both
payable June 1 to stock of record May 15.
E. II. Jennings has been elected president
to fill the unexpired term of tho lata
Michael Murphy. N. II. Weber, who has
filled the offices of secretary and treasurer,
has been elected to tho newly created posl.
tlon of genernl manager.
May
July
October .
December
Junjary
Spot .....
Liverpool Cotton
LIVERPOOL, April 2C Spot cotton was
reported In modeiate demand nt 3 points
advance to the basis of 12.73d for American
middling. Sales aggregated 7000 bales, In
cluding 3000 American. Imports were 7000
bales, none American. The market for fu
tures closed steady, at a net advance of
11 !? 15 points.
Structural Steel Shapes Up $8
PITTSBURGH, April 26. Structural
shapes now are being held at $8 a ton
above the previous prevailing minimum
price for delivery at convenience of mill by
manufacturers In the Pittsburgh district.
Steel bars are being quoted nt t3,50 or $3
a ton above the previous prevailing mini
mum prlco.
Bank or France Gains Gold
PARIS, April 26. The weekly statement
of tho Bank of France shows nn Incrcnse
of 9,707.000 francs In gold holdings and a
decrease pf l.aS,000 francs In sliver.
GOVERNMENT BONDS
Hid. Aakcd,
2a rrcltfrel 1030 1)8
2a coupon. 10.10 OH , ,
8a rrvlaterrd 1018 110
3a coupon 1IU8 , lift ...
4a resUtered 102.1 ,... 10.1, 107
4a coupon 1023 Hl.lVi ,.
Ba reslatered t040 . . mi ,.
3a coupon lull) ....'. ml ..
Panama 2a reslatered 1030 ,,,..., lis ,.
Panama 2a rridatiirrd 1038 08 ,,
Panama 3 reglaiered 1001 03 ..
Crops Lost in Farm Fire
MIM"pRD, Del.. April 26. AH the
buildings on the Vlnyard farm near Mil
ford were destroyed by' fire, also eleven
hogs, a colt, )2000 worth of farming
Implements and about JIOOO worth of pota
to, corn and v hay, Btn'amln 'Vlnyard
owiMiru- aWkWm tMt;ue iwodm and
U H Hicei HIT. uo-M -JH
do pref 118 118V6 118M, 1
Utah Copper 11.1 114 114y. y,
Utah Sec Corp ... 21 21 21 -14
Va Car Chem .... 42Ti 42V4 42V4 V4
Va Iron C & C... 70 03 70 2V4
Wabash UTa 11 H'tt V.
do pref A ...77 40H 404, 40 1
do pief B ..... 2S1i 3.14 251i Vi
West Maryland .. 21 21 21 Vt
West Union Tel.,. 00K, 05 03
Westlnghouse Mfg 30 40 80
Woolworth 133 133 133
Wheel. ft LE 1 10 16
do pref ...'..... 37 30 36
Whlto Motors .... 47V4. 47 47
Willys Overland . 31 2B 30 1
do pref 03 05 05 1
Wis Central 50 50 80
Wilson Co 77 74 75 V4
"Ix dividend National Enamlln A Stamp.,
2 hi' ic... 4utiuuui .tr iunn- u; Amerunn
Kxi-lianjo Hank, 3, , y
Woman Ends Her Life With Revolver
LANCASTER, Pa., April 2. Believed
to have been mehtally unbalanced, Mrs.
Elizabeth Esbensha'de, twenty-eight years
old, wife of Henry B. Bsbeiithkde, Jr., of
Rden. veatardav afternoon1 tot4r a revolver.
which .had .bam Uldtaiji 'barja. by her'
hUajtend,; Ml WlaaaaaataaaMBP.' 90 ' Mr
Granulated Sugar Unchanged
NEW YORK, April 20. Pine granulated
sugar remained unchanged with the Ameri
can Sugar Company quoting 7.50c. The last
sale In spot Cuban raws was nt 0,27, an ad
vanco of 7 points over last previous transaction.
BAR SILVER
Laat 1017
, Tsday. Yea Thura. High. I.ow.
Nf- York (rental 73'4 7.1 V4 74W T 71
London (pence).. 37," 37A 37,' 38,', 3.111
West States
Petroleum
Reasons nhr ou should Inveatt
' lit
J.'
8 Income
fiMiiniiiiiiiiiiiiiuwmiiiiiiainitai!!
2d
1 Monthly
I Dividends
PnitllflUUBUUBUIUll
1 jmu1 awmoOTRnttm
m
3d
Production
New Wells
Active lUrket
Tradlnc la active an tha.New York Curb
market around 1 to 1,
n'rila for dcacrlptlv Circular No. l.
THOMAS E. DONOVAN k CO.
.SpfctallJlt In Oil .Becurilif,
25 Broad St. ' 29 So. La Salts St
New York. Chicago, III.
DIVIDENDS DECLARED
Colorado Fuel nnd Iron Company, regular
ou.irterly of 2 per tent on preferred, payable
May 20 to atock of record May 7.
I.ehlsh Coal and Navigation Company, regu
lar quarterly of 2 per cent, payable May 31 to
stoi'liholdera of record April 30.
II. F. Goodrich Company, reeular ciuirterly
of It a xhara nn common, payable August 13 to
Moek of rerord August 3.
Commercial Trust Company, renulor nuar
terly 4 per ivnt. paable May 1 to atock of rec
ord April 30. cheelia will bo mailed.
Third National Hunk rejrular aemlannual of
0 ner rent, free of tax, payuhle May 1 to stock
holders of record April 30.
American Uraaa Company regular quarterly
of 14 per cent and an extra of 11 per rent,
paynble Mov 1.1 to holdera of record April 3(1.
The extra dividend is unchanged,
Mitchell Motor Company. Inc., roaulnrly quart
erly of 1 Va per cent, payable May 24 to stock of
record May 10.
Supplee Milk Company regular quarterly on
preferred slock of 1. per cent, payable June t
to stockholder of record May II),
Diamond Ice & Coal Company regular quarter
ly of l ner rent on preferred, payable May 1
to slock of record April 20.
n-ecr-e-Cannnen Copper Company, unual quar
terly of 12 per share, payable May 2S to slock
UI lecurrl .May 11.
Consolidated Oas Company, regular quartnrlv
of 1". per rent, payable June 1.1 to stock of
record May 10.
Liggett & Myers Tobacco Company, regular
nuarterlv of ,t per cent on common, payable
June 1 to stock of record May 1.1.
When You Read
About a Mine
do you understand thorbughly. or
are you hazy regarding tho meaning
of such words as
"Sloping" X
"Leaching"
"Crosscut"
"Flotation"
"Cyaniding"
"Winze"-
"Diamond Drill"
"Concentrator"
"Fissure Vein"
"Blind Drift" .
"Hanging Wall"
"Blocking out ore"
Mining and
Milling Terms
n, booklet,. Just published, defines Ihsno
and about 200 other words and
presslons frequently u-ied -In ths de
scription of mining properties arid op
erations, livery Investor should have. It.
Send for 847-T.U.
JONES & 8AKER
STOCK IIIIOKERS
Widener Bldg., Philadelphia
Dell. Walnut 1000-1.
Keystone, Racs 220O.
New York Ilottnn
Chicago Pittsburgh
Direct rrivflfs TTirej
josns d nAKcn.
U-Mciier DUIa.. rhtladeliilila, To.
You may send me your booklet. "Min
ing nnd Milling, Terms," 817-T. U.
.Ynme ,
Address
Cltu ...
State
Z
DlBKOTQItV or ACCOUNTANTS'
CortMtJ PiiMU A few u
V .
The Government Loan
IN THE one hundred and forty year! which mark
the life of our Country, we have on five
occasions been forced to create War Loans.
The first was' during the Revolutionary War of
1776, when' L'ouis XVI of France loaned the
Colonies about $1,000,000. Later the French
Government made other loans, so that at the end
of the War we owed France and its King
$6,352,500, a stupendous sum for those days.
Today we are about to offer for subscription a
loan amounting to probably1 $2,000,000,000 to
aid our Allies to battle for the principle laid down
by President Lincoln that "Government of 'the
people, by the people and for the peopfe shall not
perish from the earth'
Subscriptions to the Loan will be received by this
Company without cost to the subscriber or to the
Government.
Commercial Trust Company ,
, City Hall Square
i""rt.
s V -.
t-.J.SAPv .
'
1
il
I
mm aUB laaBBTdK. JaaV
tw