rPcSp
wv'ar
"! s i. .
'--. .y;
7
t .
-
.i
- i
.
.'
EVEXiXt t?UJ3LI0 LEDOEK-PHILADBLPHLV. SATURDAY. MAltCH 0, 101S
fe .
'f itvEafiiPii?a'
ik.i lyuriTurur,
,... ma... 5
WK HAVE PREPARED A LIST
',BIX FIRST CLASS BONUS.
' SIX niPCPRFNT TYPE9.
JTH THE IDEA OF COMD.N
fo A H1QH FACTOR OF
kFKTY AND A HIGH RE-
rURN.
;"iA
THESE BONDS. HAVING A
JFJ VALUE OF ,D00. Cn UJ
SCrlASKU A I fMCOBIil
ICES FOR ABOUT $3,3601 IN.
(REST PAYADLE EVERY
BNTH. AMOUNTING TO $285
H VrtA.i. ANra HAVINQ AN
TWERAQE YIELD OF ABOUT
REILLY, BROCK & CO.
306 CHESTNUT ST.
riiiLADiiLrin.v
NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICE!
PROFESSIONAL SALES BRING - ! New York stock salcT ov!cmnm ,
v. -v -.- . , . -- - y. i i-, -wnrT TT71I T I ... - -' -
KiUAUTlUJN FOK KAIJLKUAL lS&U-Bifc
tilth
Alaska Ool M in
AIIlM.(?ha1tn t, iYe-
I V.'." """" "-" ?"'"
Declines Without Importance, However, as Anio.rWui mt
Outside Supply Is Small Steel Indus
trials Show Rallying Tendency
High Points in Today's Financial News
Itallroad Issues showed reactionary tendency on'Xcso York Stock Vx
change due to professional sitting. Outside supply wan slacking, however,
making recessions unimportant. Steel Industrials rallied. The Curb mar
ket tens steady Oraln v:as Myhcr. Cotton toner l'orclgn exchange
wis dull. I'ntted State Steel Corporation's unfilled tnnnaac report as of
March I seas below that at the beginning of the previous month. Xew
York hank statement shotted hlg gains In loans and demand deposits.
Clearings throughout the tounlry this week were below last lecck, but
above corresponding neck of 1017. liar slhcr uas unchanged In .Vcio
York and London.
Am H & l..i nf .ins.
Am Linseed ... 33 1',
Am L-romotlvo f)8!
Am Malt ... jo
I do pref .... 4K
I Am Smelting 81,
Am Sum lob. HIS
ui me?, i urj" uoji
lxiw
Ml
35H
40H
78V,
siW
SOH
J,
flfl'i
U
40
l"i
06
Cle.se
li
Net
ch
2"s '. , Aetna Explosives the Center
a, of Interest Mines and
nii
10 -
31 14 t- la
80S, f 4
Sift '-J
0S S
n S
40?i '
Motors Quiet
"'"7t: 1 rppAnTMa CONTINUES LIGHT HERE.
ut iir..'j.if hIiim 1 i iv jlj -a. .. v- w -w 7 .,
cuius in riUtuuuj..uj CTTPTsRTOR TATCTNf, T.lAn
VUiU - Ui$
Storage Battery Advances and Street Discusses Prob. '
able Earnings statement, wiiicn is iiixpected
to lie Good Reading Is Weak
Am sugar ...ion), losy, los-ii
uu I'm . 1 1 lid j
Am Tel & Tel toe
Am Tobacco .13.1
Am Wool . 3ft
Am Writ P nf ti
.Am Zinc & J. IS',
I Anaconda oil,
j Atchlaoh 8H.4,
1 At tiuir & w 1 ini.
I llalrt I.oco Co. . 7Nb
Unit A Ohio .1.1
lletti Ht l II HUV.
NTAV YOUIJ, Ma nh
'I Iia iau ..l..i .It r nt- a tj tlli t rilll
HIS "1 Inn 011 tlio Curb, with price ccncrally
l3 holJInif niMiiv.
. . 1 I TIk, linn.t.t pi..1iii. ..ta In AfttlA I
... ....... W L.U,..., ,. ... ..-..-,
ins i
m;i
iXiiJ iniiZ ' KxplnslreH. lth that stock tv
lfllt, 100 j BtfRilllr taken nt iU to Si. thn liuy
.. . "I''
is Am Slnrei id
fiu lllec Stor io4
Hhii ap.
".'I InNCNA 33
.1A0!.k Hint O 1S
:! l.Hi s'nv HI
55 I.fli Vnl. flo'i
13 Mlnelilll . An
fla.ll'enn It It 4Si
ini'hlla ru
mm if no't ,10
ino J'lill Klro -.'.li SSVt
iil'JITirif ami son
f00 Itciidlnir . A2'(,..M'u
KiuTon lll ,1V .It'.
lOUTon Mill .'I'i .I'd
S't
AW I'lno (hue
Jl S 4 I
luH n'4 'i
m, ..
23 S
lU IH'n '
OO'.i .
3'1 '.(
0.17.
(id!
ftn
13'
l.ako fiunnlor 1mim roiitlnued to nlly lower, while t mall lows fre .
w 1 ,alt(' "" ulmari1 ou"' """ lo """. .'. 1 """"c" v i'liimuoiimia Uomnaj, i
llftt in nciivny pnny i '"""("it u" i'lnircn, lonopah Mini.
Ki-ssloii on tlm I'lilU'lclplila Stock nixl t'liltcd Uai IniproemenI t.i
.10
!31i .
sn'i H
lj IS
iiproement. Lav,
103
S3
!o;
lS
03 S
KUVt
1IIS
3l'-j
I'Vj
133 4 1
S3 "l
4
rtoSpeprcf 101", J0H 101U
k
10 r
hti
Hl'A
I13W S
iS "S
wi '
Inir trine nlmot Mliollv In connection 1
wltli thn comlnc minunl incetlnt: kIiico f
it tun ui'K(niiiiiR ui tne win.
1 t..i... ,.. ..(. ,1..
1, f .ti.Mui ..iiiiiiuuili ivaH iuri ,ii.i.i
homo
short Kt9
..... .. I..I. -... .n. Ira It-iSM Mil. I U.iiinHn .. I...., I. . . . " LuKt
Hi! K crnlly rjulet and thilr prko changes mi- n,e oloro nml viuleil tlio -eslon ,1
IU . 'interesting-. ' lractionii nrclltie, whllo llapiil Trin.it '
fid'.
51 (.
lit
?n.
31)!
I?.
Investments in Oil Stocks
Only th- nioclid ut 1 rove 11 oil producer,
none-tly m(in(ty.d, nbiy inndurted. ttn.l
psrlnir i)ihleiid. reiculArly. hou!a 04
cbolen for lueBtmcnti ut this time.
BarnettOil&Gas Co.
t on of tho lea'JInr Tml'pendcnt (Jl.N
uenU) pajlnir oil companlcR,
! -
DUIdfiiil rnt.. 21.
Dtlljr acil murttvt Now Turk Turb
rlvo do not thar(f lrokraic on Uttrnrtt.
Tor iIctHtlp'1 informatton
Morton R. Alexander
Phlladclplila Stock CxchariRC I51dfr.
17 William HI.. . 1. f v
41
IV
PIBErTORV OF UTOrVMN'Th
Ortlrlftl Pnlillf Af ronntanti
f
B-l J . JJUVRKNCn n. HHOWN ft CO
V" t 1II1R IIHAI. I.KTATP TfllTST Tll.l.n
fA. IS'VBSTlOATi; & ADJUST PAUTNhilHHIP
?if vwt'ui.Aiiu.N : uiaru t i;u auluu?!! a
jS GorB iv. AVarnnn. C. P. A,
.' 5ilh Llnne Dual P.lnt. To... t1-.
- iwv- .v . -it-" UW. OIU.I
Auaui tix rrorta.
3S
T.Ff! I. ADVr.HTISKMlCNTS
Sr or3w:a oTiru m hkrkiiv'.
f , -B a p-tlllon had ht-en tiled
Ht r n. .... u. .l..n n, Ttk.ll....
... u... ir. v rB.iiiit
for the appolntm-n
CormtahU of tho TV
Itl'hlU.lelphla. t nil
Jrtnatlon of John ,
5M petition wlli b
v58. City Hall) on 1
flIAl.N TIMT '
In JhM Ciiiirt
'nf Quarter tjinalona of rhlUdflphrii County I
for the m)ointm-nt of UlUUnt Wain um
titjL fonatabtw of tho Tnth Ward of thn city of
r?iT -niioipni, i mi h ncancy cauipq uy in
r' rkllvnatlnii .if Inhn 1 M.mlu A Imirlnff m
b hail In KaM I'ourt (jtoom !
iridjy, .nam. -.'a, juib
in.
THOMAS HOYI.AN.
Attorney for I tit toner.
fe .NEW YOUK BANK STATEMENT
BY. - T. . . .
rv -Bisr Increase in Avcratre nntl Actual
E.r Loans Average Reserve Decreases j
Rk,1.," "(,,. li
"INnW YOIIIC. March . The New
riij -jorK DanK Fiatcment tlili wceic riiowh
hr-ft. b'C Increase In averaco and actual loan-.
'jm wlth decreuso lnaeraco resere and
f i increa-o in actual. Tlmo deposlti In-
Wm . B.aa K&rl (h l..t. ..
ii kwu in until vases.
M, Details follow: '
'?&
AVEliAGi:
increase
t'JEn
u.lJXjoan. 14..lh itit nun tinu nB nnn
'r.JXet aemand dtp .tS.illu.ii.vi.iino 4H.li.'ii''nin
L'.41. ,110(1
10. (100
bin.uun
Kt! iKt time deposits l'iiIinl,(H.i
Vv-."lrcMUilon si.mij.iiuu
I
uifiltf .Beaerve of mem
I g At er bank. In
f-v JT..erva bank...
. KttMM.va In Mint a
ti;.i Unk and trust
t 'efr' mpanle ....
Rcsrv In Matt.
rffi, a bmnka nivl tru-l
W ('t.wialtBrl.a . .
Kt..1v?l Jkavr.aat r..rt
itcaerva reaulred.
. rii-i .... "
B.V.rril"".
4 'i 0.4 IT. out I
1 10,372 COO
7. SO" cxn
r.2o.O"7,nu(i
-sj.i3.tmj
an.oii.biii
i IU9.00H
27."..(lll
4,71X1,00(1
H.r.di'.n'ii
l.ddj li.ii
Jt'jJiU. S. depo'ltH deducted. 1420, 'JJJ t'00.
TS'fij opeei. inciuueu, 9iu,ui2,liut(
ACTl'VI.
5L'..Decrea.e.
&r
,i.
Mr --ni n,3 is.tao.ooo
5v5J"t -demand de--
Pi lime deposits 'llMMH7,0'i
rv iivVlTrul-itJon . . ni.SsN.niiti
.rain in vauila
Reirv6 In m-Tn.
9
-J51b.r banks In r
,CS nerva bank....
:&y"tlx
J S,' bark, and trunt
3?A i uorapaniea
E
HerVB In Htal
hanlcn rnirl tru.t
R'iVI d.troaltorlea
:. 'ATKrfKatfl r.d.r.n
Otrt H Hriafmi r.ntilr.rt.
CL-, BUpilUa
tlMl.UIS.UIHJ
SI3.SIS.000
HO 730 U00
In, rci...
I3". 771,0(1(1 I
P" n-.c (mo ,
5.7.',7,0(ii( I
I.M.oon I
3,'J83.Ut"l ,
53 401.000
47JOOO
T,4.-.r..ntn
530,40 1,1(00
414,2111,7111
0.,.10.1,2U(l
United Statta depoaltn Ueducttd, 1 13d,
?.,? jlSpele includtd. I70.092.oon.
f. -Oecrea.e.
t . ouTsinn iivnk kTATi.i'. r
V,-, bTATC HA.SKh
?'ilt and Indent-
tUf ttnenta , J II.' 321 40(1
4QIU il.,UJ..MU
7J.0 000
f.l.OOJ.Iion
1 2,430, ..(111
4J.U5.' 14(1
' ooiea
noall
(Mnn Hank of
w York ..
eDOalta
Reeanre on ttepoelt
2.'.037 30o
S.l II,', iioo
ill, loo
02 SCO
.id 3.M, loo oo7.tnn
.",40,1111 Mldil 7.ID,I)'I
10J 1 15 1(1(1 1.1 1(1.1(11.
'P.rc.ntaire of reacre. 23 3. decrvaRe. .7
42.per cent.
,!(' TIttlST COiIPANII!.
i4
l .!Iiana and lnest.
2VS ? Hienta Jl.OOI.SOT.SOO 2l,',77H0O
fci -'d :.0,070.30O -IS.KuO
Rvvrl V".raiic. uiiiK
f;S'ftii n.wt.ioo 'soltoo
Irfr'.l nrvmi.n. .'luca.
n.w xorx
NKW YOIIIC, Mnrch D.
The speculatl.o Interc-t In railroad Klocku. -hteli v.at so pronounced
in estcrday' tnidlm?. ns not malntnlned overnight, and In the early
iltallnRS today tlio profc-xloii'il element wlilih had turned to tho lone
ibldo lost no tlmo In tllmiyjliiB of tlio htocUi which had been bought
on tho ndvaiuc, nnd thli supply .im effective In can-Ins moderate re.ic
tlons and moderate declines In tho Urst fcV minutes.
r.cadlnc was nuppllcd In largo blocks by ono hotite. .ind dropped
more than 1 point, nnd thcro were rcccs-lona ranitlng from fractions to
around 1 point In many other Issues, -nhlclt had -.noun activity and
strength in the pi ceding t-o days.
Tho (dell Indiistilal.s, however, showed it good rallying tendency, with
lonccntrnted byjlng In Ualdwln I.oromotUe. which, after declining to
"Cii, had n tiulck upturn to "S.
I'nlted States Hteel common sold oft slightly nt tho beginning of
buslnes but later had a fhnrp tally, and Ilcthlchcm Stcct "IV tnouii In
about the Kimo way.
Tho most active feature of the two hours' trading was Iiutto-Supetlor,
which wa.s In brisk demand and wh.itieed from HIM to 21; on unusually
largo Hading, (lencral Motors was alto active, dropping to HI1! nnd
then going to ISC"..
Tho declines which were noted in tho railroad stocks under tho
traders i-ohlng wcro without special significance, llttlo supply being
brought In from outside sources by tlio higher levels, which have been
established for tirtnj of thee losues.
Doubt Is again on the St. Paul dividend outinnk, v ith ninny hole
insisting that there is no prospect of a dividend being declared at the
meeting on March L'S on tho ptefcrred stock.
The Jiond market rontlnued to hao n generally strong tone, with
many of tho low-priced railroads in brisk ikmaml Liberty I' tanged
from SI..20 to SC.41; tho .".'is bold nt Oi.CS nnd 17 t,0
Surprise at Pressure on Liberty liotuls
During thn firist pait of this week no little picssuie was bliown in
tho sales of Liberty llouds. a feature which occasioned somo sm prise,
In view of the definite date. April . which has been set for ofterlng tho
third war loan by thn Treasury. Then? appears to have been ielatlely
u greater selling of the first loan, tho 3Vi per cents. Somo of tho large
commission houses teport u iimtlnued movement on tho part of their
clients to turn their ?,$ per cents into -Is, This Is n process which
has been going on quietly for u i onslderahlo piriod and Is reflected by
tho gradual reduction ln tho dlffercnco In quotations of tho two issue".
A few weeks ago tho difference in favor of the :!' per cents was
about 3 points; today It Is less than l'-i points. The explanation Is not
dilllcult to discover, slnco It now is conceded tint tho April lssuo will
carry 4 per cent. There seems somo dcgieo of uncertainly whether
somewhat moro liberal .terms rcgatding t.i exemption may not bo In
cluded also. At any rnte. there obviously will bo a much moro attrac
tive incentive to convert tho Si per cent bonds Into 4'i per cent bonds
than Into the 4 per cents tecently illstrhuted. (
On the other hand, thero Is icason to believe that tho new Isaiie
will bo marketed at par. This means in tuin that tlio eonvei shins of tho
old bonds will plice them on n pailty with tho Apt II distribution. Con
sequently it tho new bonds ate to minmand par then the old bonds aio
likewise to bo worth par. Thus it is dilllcult to explain the active sell- '
lng which has taken place this week in the older Issues, occpt on the
thiory that professional opeiatlons have been the main incentive. That
14 to say, operators who are convinced that tho old bonds will i-ell on
tho same basis as the new ate not dislnelliud to see quotations of the
former decline, for the opportunity that will be afforded to j!ck tip ''at
gains and sell out at tho higher figure i later on. This does not neces
sarily mean that professionals are deliberately fotcing quotations of the
old bonds down. They could accomplish tho tame purpoo by i chaining
from furnishing support until by purchases they had propated them
selves for the rise that later Is to come.
.Another sourn) of weakness a minor one -is probably thn prepara
tions which are being made bv subscilbers to the older war bond Issues
to release cash for tho purposo of subscribing to tho new. This, of courbo,
will Involve ii direct monetary loss, slnco the older bonds wcro paid foi
at par. Nevertheless, the pressure to subscribe to tho new bonds ln
April wlll.be so gieat that many largo Interests hn well as rm.illcr ones
will fl ml It Impossible to refuse. In the same category must bo placed
Interests who subsirlbu to war bonds for spectacular iffoct. Tho point,
unfortunately. Is not as widely appreciated tus It should ho that It is not
i so much tho subscription to the war loans that constitutes a patriotic
response to tho C'overmmnl'o call for war funds as It Is the peuiunciU
investment of savings in tho war bonds.
A largo ovetsub'-i'ripthiii Is not without Its -.aluc. it Is true, since
t Is accepted us a mail: of nationwide patriotism. Hut It is quite an-
Hullo U & . I'n in
JiUttO .C. Sllll (' 931
Cimiidlaii Pjc.140'1, 11BM, llSii I
Cent Leather.. 71-., 71 , ; Vi
i nunnier .not. . S7V4 1j
flies & Ohio . ,-', 3711
Chi Ut W pf .. !!- ill,
Chi M S V l.tT, j 3
do prtf . . 7n 73
Chi It I & I- to Jl, 21
do ( i t I i 57 fiiil.
do 7 p u prte on", ,n2
Chile Cupper . . In III
Clillio fon fop U1', 'i
Col niel Sc ll . . Ill .1111.,
Col lias & i:kc Ml, iliiii
Cunt f ill . . 70', 70',
Corn Prod .. . ."-, ,it,
Cturllilo Stcol. lilt, in'j
l I. fc W . . .17! 170
I)l"tll Sreui . HI S'j
Krlo . IS"., 13'H
no 1st pirf . .'7', !!
33', .T
ttaded In, but showed a sllelit tece'Slon
from ofiterday's highest price v right
Jlartlti was quiet, selling nt 8, .1,7:
Tho motor stocks nenirolly were l"a
steady, with Smith .Motor s-jlllni: at 2'i
and 2i and Vnttetl Motor nt 20"i and J
:ct, I
Indenendent oil stocks were without'
'4 .ttneelal ph.no, .n.,. ..e il,- l.n.lnAM l,i !
?" ijj i those I'sue being tlio low-prleo shares.1
21'. ' U '"'dm sold at T6. nnd 7's and Oltla-j
4.1 s'homn at 7. I
73 I ' Thetn w.i continued orferlru of rtrlt
SIN ' Ish-American Tobacco, with rales at 10
nan. ,-.""' lb",. .l,(l jetterduvi l,l, vvi.k
, ' nunmarine was steady. 'telling Bl 13. ', row ihjv,
. hi i.isiii sold nt 2 , and -".:.
.Mining stoiks vvue qillit. with nig
!..dirn selling nt I1, and I 7-10 and
.Vlpi'islng nt R'j
i.viustki vi s
t:ti tmh
71 CO Imp, fls; (isn RS'i t ' Onlv a small number of Issues ap- certificates and Tonopah llelmont J. 1
12l3 U S Slevl 1 tilH 'MS "4 ' peared on tho tain' nnd a Bain of 1 , with trifling ndvnnces, Sc"
West CI .. 7 ' point by American Htoren, which took a I .... , ,
W Crainu o !.--t ..i e.., a,., nn. and1 "'en common wan qu.et lod.iv -.
iQuotatlon given I. jeterda s clo.e "?"'"" 7 1 ,.. llmr following tho ' "1"'?u5L,.Jt ,'li'l.l",, ' w York.'!,.
T,.. ...... ae.r: a ...h I cor. ( that stock on tho big l.oai.l. '""'',r' .,,'',., a25?ur1. B.t ..Wffi !.'
m hf.. ...V.4r.;; iia. i.;.V. 23.SM111 wero nbdut tho onlv fuilurcs omsiuo :.."T..: """...' . ""',l 0I the Hj.i'
reti lat rik, :n.i7lt hjre-. I of tho continued activity of Superior. ,"", ,,7,, , .,ll'ic'"e if
ikimis N't Heading lost nitre than n point. Jeim- """'' "" """ ."'.'" '''"ineii to Arm. Jt:
OOf.eh Vil "U" ',OW " '" " -l.-nl.i a fraction, and Lehigh Valley " olay. wit the regular 4, ,rt.tt
Coal Js 90', !.!'t, ..t, 'was marked up n quarter Lehigh Nuvl. ",?",'"& "j otJ " '" ,,lno" i
30 Lib end '"'" g.tlon nnd Insurance Company if North ""lc.i''1" "fhl"llrolds, "P'rating ,.$,
3Uh 0T.J0 07.20 07.io . America were unchanged on trifling ,J(0rmfnt,h'ca1B?1?,,,, PV ul WWA'
:oo do 's,0fi ii mi ..II iransactlons during tho greater part of ' f '",'",";'lt ? an for Zlf
.i ,in l IhIIiu on on .in in) mi ill ... . c.in ................ uww l iiii- i-.lhiiii- lin . .. m-
cooo Pliila Ll
ist js . oni
ft
91',
.total snlet, $2
00. rnmp.ireil with SI1'.-
9lll
4l'i '
39', - I
I li '
70''i s
SI '
ill in I
179 1
,111'i "
ll'a '
fi.T.-WllIl.llllS
Hen Illictrlo
i.in Motors
Ut Nor Mif
It Nor or nibs 2H1
Inspiration ( o;i 13
Int Mer Mar 29 'A
do nref tiKi'j
Intern I I'pt
lot Nickel. .
Kim fltv So
i Kenneibtt 'I'M'
i Lack Steil
lrfhlgh Vallej
(Mexican Petrol tiilti
I M St L new . lo'H
.MIIlVRlK ...
.Mo IMc .
do ctfs
N'.it Lnm s
Nevada Con i
.N V Cent ... 73
N V N II A. It . SIM j
X T Ont ft W, SI
31
1311 VS. t.l'I'V 131"! ''l
120'
II!
3IU
17h
3!
SI
r.ny,
r. s.
21
in
1J3V 1'M"j I
II IT.
2R7.
4l1t
2S'.j
l7 !',
31",
29
17
HJ
SO
1,0
93 It
HIS.
4?
231s
ASK.
48'ii
IM'
72S
2S"t
:i
UIT
29 V
l"
Norf & West .loilVj 103U 101V, I
Nor l'nclllc sfli
Ohio Has . . 39 is.
Ontario Silvci . OS
IMo Mntl 30
Penna H 1! . ll'l
Pitts ilWlil 29 V,
1'ltts Coal . . sil't
Pleree-Arrow . II
Pressed Sitl Car (II
Ity Stl Spiing. si'i
Kay Con Cpr.. 23",
Heading . St
Ittp Iron (V bit sor.
SlLiSI'.. I2',t
silusH-Sh I S. S B.I
Sinclair Oil 3l'i
South IMclflc . H7?
Southern 11 11 .'l"t
do ptef . . .01
Studeb ik'T 4(l'
Tenn Cop A. Ch l?S
1 Texus Com . 152 'i
Tohacori 1'iml 30S
I'lilim Pncllle 12 IS
I I'll Cgr Sirs so ),
I'nlteil null l -'
C S Ind Alco US
, P S Ilubtiei ."
C S Steel. o-i',3
t'ltili Copper . SI
Wabash pnf A IiC-h
W(it Maryland 17 Vt
' Westing Mfg I!
Wlllvsoier is'.
HO',
39 1,
30
45
2 S
51
tl
l,t
51 'i
23 S
81
SO
12'.
51
34 '
S7
2",
10 '
43'',
17
13S
50 'i
120
S9
l.'ll
I2ll'a l2(Hi
Aeitu Lxplovlves
iner-Ilrlttsli -Mfg
Am Marconi . ...
Viuer Writing lMp.-i
Mr Ueiiuctl.iii
CnnndlHU Car o
Can Car A Pdy pf
( hare oil Iron
.?;. " ,,' ' Cheviolit Motors .
-: , i Crimp . .
!!'..' " .? , Cuitlsa Aeroplane
US Ja'c.irwen Tool ..
20 , farhon Slrel
I7S - '. Kuierson riionuciaiili.
J Federal Dyo .... ,
SOU I Hende Mfg .
00' ' , Intcr-Lubo . ,
9a Vj Knthod'on Ilronz.. nf
Like Torpedo Ho it
Lehigh Coal Sales.
Lima Locomotive .
Maxim Munition"
M'irllii Aims .
V V Shipbuilding .
Nor Ainer Jmji l'-jln,
Otis r.levatur .
I'eefless Motor
l'oole LnL' . .
Iteddeu True!,
ni.l
.1
3'j
21
31
'.
IS J
SO
.17
SI
V. f cld.e
V.. l.ale)
n't os
hi 3V,
;t
SO 77
2S
oil
It'j
IS4 ISS
... .. .. -- a mii ui in I
UteiMln- llnllnev lilMi Il-IM 1inUf1 H fllPl PKUnUOll, tllfl lelltf Of IrnfTlii -
firm tim rocentl, mofil m Hk1uI on Kutn nnu lienor operating weather!
... -j .. l .-- Hful mnr Hmtn irMii,i-ill.. "'tri
'i cm in iiiriinr inii.iv it'll iiiu piirii i"" " .w.... - m-iuiiv
wioi lit Ii bfKU" t" mik ft"0"' ,hn eiiinlmts This has given great relief to tWt.
ror tlm year, wnicli will no announced i ih-i-, i.iui.iuku finnc n-sirietmns aro itm !
at stookholders1 annual meeting on tho being made, but business ln tlio Urrltorv 3
T nnnl IUrl -,.., A a ht,,1 20th of this month. or uiio roans is reeling a Ulrmilatlonl
IjOCai Jtia ailtt ASItea During the flrt half of the jcar on account of tho improvement In rail i
, , nrofUs wero at tho lato of about II, toad facilities "i
Yntenljv per cent n jear, and with tho continued Olllclals of southern roids claim that '
id AkeJ r,pan,0 ttie buslnes", largely better weather eondltlons havo caus.,1 i
; 77'a , throimh fjovernment conlrscts, It Is ronslderahlo Incieise In the volorfie Jj
",t ' .. .. ...l.l.. ,1.-. .1.- ...(!(. ee errllit Itlldn Tt . "I'liCOtt
innuglil i"r(io.iii(" unit ki I'lunie . h'm.. ,..... ..,,- uiuienieni of coal i
ilio twelve mnnths will nveraco at least , to tlm South has been heavv .in.i (. i
an much as during tho first part of tho cellaneous and general merchandise hiJ
jear nnd perhaps more During 1910 . moved In good volume. Indicating that!
tho net earnings wero 9 7 per cent. the Kcnei.il increase In tonnage has bMil i
Philadelphia P.lectilc gained jmomen-1 about 12 to IS pel cent more thn1
tuin toward miiKiaj, out was hluuh- i nm ,h".
Amer sture.
llddwln ,
Prill J il ,
Huff 4. Miiku i ,
d preferred
I. leu Htoraaii..
lien Afphilt
il i Lref, rreil
Kev 'luleiihulie.
TodjV
Hid Aekrd
7t,'.
lt.Ma
17
4li't
Ih'j
10',H '
43 '-j
23S 'I
S'SN
IH'4 v-
ISTs .
73S ".
2H", '
31
1 .1
I
:i 3',
7K S3
10 All
(U
39V. 'i
OS ' '11
.to '
iv, s
2K(i S
51", I ',
II "
l i
3Vi l,
2lia, '
sis :
so 1
13'1
31 ' j
:il' S
H7 S
34', ..
oo'j !
U S
17 '.
133 S
30' j 'a
12IH, 2
SO l'
SO
10
'Mi
3S
111
III
S3
4 5
411
17
ty 'lei,
ill 1 e
r.aK.t Hup t'nrp
l.ell Xav .. .
I.Oi Vallej.
t.eli Vnl 'ir ... .
ili preferred
Penna ....
I'lilli 111. . .
i'hlla in
In 5 i pr cent pr
(1,1 II tier telit nr
I'lilla It T t r
i Iteadlltir
Ton lll...
, Tol Mln .
' '" l I'll True .
not .
P M Httel.
(1 'York Jly . .
in, prei
Jill
tl
2(1
4s
4I'',
17'.
,M
:i
I
HI', li",
1111! Iil'i
5U' lili'l
I'l
.17
4-. iiu
.-.'. 25' j
23 20
.'I
KH 31
-"', ",l!.
Sl"i Sltj
ii'. a",
i v,
4H 41
I s I."',
UI . td'j
O'j lo
3l'j :ij'j
SO hi
'U'j
47
lil'.
tlllj
lei
s
ro
m;,
i, i1 j
41
4'"4
17'J
r.t'J
u
ii'i'1.
oi
in'j
21
.in
,(i
SI
a,".
.1 '
in
us
'iii-i
nt'.
bo
31
2(1'.
ST.
!!-:
ti
..I'.
IU'3
HI
3-"a
f!
RENEWED SELLING 0ATS PRICES BETTER!
WEAKENS COTTON i AFTER LOWER START;
10
so
tl'i
II
isti
13' j
74
S
2S
30
SI
IS
Scrlpps-llooth .
S S ICresgi. w I
Slandurd Motor"
Stel AlIos .
Submarlno
St Joseph Lead
Todd Shipbuilding
TrlantJe film
Pn Profit Sharing
C H Steamship
I'nlted Motor i
fulled Sugar
World's I-Tlin .
Wright-Martin All
SCltie. Concent
STAMlAKl) Oil. MOCKs
Illinois 181 ii,..
V1'1" , -IIS 33S
Prnlrlo Pipe . ."a; n-,
Stand Oil of Calif .jis 2S.I
Stand Oil of .V J ..,.-,33 540
Stand Oil of N -i 2t 270 "r.
ivi)i:im:niii:.nt on, sTorns
R'j
Win Cramp I sons so
INACTIVE IMHLA. STOCKS
J'ollowlng nie epiotatlons for Inactive
stocks listed 1111 Hie Philadelphia Slock
Kxchatign and ln which theie wetn no
i tnns.ictlons todav The price given In
i; the last pluvious cloe'
iiB I Vtn.r Kp . , SJ lJe Tel lat pf. 17".
I Amur u" war. I'l I It linn. . . jd'j
Anje-r Itwy Pf 73 I.eli Vnl rr pf -'T'i
Allliiiee liiaur.. l 1, .N'm .'.1 rt if II
I Am.r Jllll . . 10 M.Ntf.rnl 7
Amerllnjr.. 311 l.utl. Vdmilkill 51
Irf11,tr. ''."'rea pf P.' North e'.nt . . 7",
3's ''rill .J tl.. . 2-, I'enna -eilt . . P11
M liiift H l 11 j JVim Trufllc . 2 'I
'Jam Iron . . 4i'i fhlla Co ... 21
hi ' Wn,5,,lx'."l.I'f r'-',. PMIa Co pref JS
S' ecu Irae N j my. .,a Tr.,r 7,
lO.ti Aauhalt pf 31 'i Ilwy tin Hen I
... 7 .,,.' VI ' N Meel pf .10-l'
(i1-"., " OT"' ,7.. Warwlel. Iron . t'i
b'" "" T'I . S'i Went J (. Sea . 4J
Ivesstunu rel pf 57 lcrle Itwj pref, J.'
Trade Interests Cause Occa
sional Rallies, but Market
Closes Unsettled
ciition iii.i.t ni:vrin:it roMiiniiNs
M.W VOKK. March tl. rhe fnll.mlnl
teinpeniturei, vtere reeiirded In tho cnttai.
belt this mornliiRi
Ma(on and Anantts, nil f hattanooim
snil larkMonillle. ."ill I liirleton. 5S
Itiittnllitellle, OOi Oklahoma. Montgomery..
rsa,hellle .Hn Tiiinpa. Oil lei Atitnnli.
anil 1 Hue l.urk. iitt siiretepori. iieiiipiiinj
V if kliiirK, New (Irleiim, rcn,aioli. and
V if klitirK,
llerldlmi.
t.jl.etuii and lort sinil
Seaboard Expprters Are Re.
1 ported to Havo Bought Cash I j
Article lor Speculation J
. .1
I l,lt IN lli:i. T IV I' VI IIIU liitttn... ' 'I
HIC'Al.n. Mureli P. Illinois I'nurltlrd , 'l
niiaht Hii.1 Muiiilat. r.ili. norlli-"!,.- i1
1 Irel. tiinilnir to 10I1I. "" JVi
ni-iMiiiri 1 iiM- nr.l tnnlalit lm Nln,
ila. rain north loiiitlit tnriilna to .n.V
' MUeontln smiiv I0.1I.I1I nd tinliaUi
.siitnlio.
heavy mirth ami wett. eoljir
Merldlun. el"i thllene, CiirpuM ( lirl.ll.
'inltll, TO.
viliniftoln Mioiv iniiUht. prelialdy hearr t.
tt, eolder noettti: .unilay untettlfd. i'l
Inn ii -It n In. ftiriilnir t.. himu. u.f ..1.1..
....!... v... .... V.l.'t ' "Vj"'"" "'
......,, ''' ii"--niri ruiurr.
ler moi
-Knlii
New York Bond Sales
Hlirii
5ll' 30 '
III ' HIS
Mil' a SI
tS'y 43'j
17',, 17', '
4IS I'S
IK'l IH',
'.il Ilirnett on. k Cas.
! Cosden fc Co . . .
S 1 Lilt 1 l.i sin .
S 1 federal oil .
"t I Inter Petiol
" 1 llemston till
', Metrltt Oil .
.Midwest Oil .
, Met Petml
Olilo M.ol
Tot il snlet, 2UR.S0O
nllh 39.I.7IMI thares
I 11SJ.100 thjre.i
' (.luren.
100 .hires. .. imp. red IV,,!'lh,'i,,lla- '!'f
enlrrdiil lhl Meek, J'lce Oil
latt week S.KIV.KInl ""Jpulp.l Kef
U
7 ' '
ilt
as
is".
43
in';.
"iipi
"s
IS
IITH
si;
c.1,X!','-!l;Pi'n.f, : "ft
-nni ".Vl" ull"l f"- As I''.
:S
IT,
10
SO
110
I'uuojnh
Sinclair
I'nlted AVest oil .
INACTIVE NEW YOKE STOCKS , MISIM, hTO(.K
iViUnvvlnir tire quotations f.n Inactive , Alaska Standard . .-.
New York stocks nnd In which thero Atlanta ... .
were no transactions today Tho price Hlg Ledgo . .
given Is tho last previous talc: 1 lllsbee Cop fa pios)
a'm:.".: sua r,r, m m :; J
u. ..'... . ... ,,. pnni s 1,11. eul and .lernmo
A 11 iiuiieni " ... , -..: : . .. ----..
Alai
IS
Hi
I '4
HS
s
HI
e
I.'.
II
IS
s
t
2S
1'
1.(1,
as
'3d
11.1
Il'n
'.
I3;
I'J'i
Sill,
(1(1(1 A,n..v 'l.l .11 .
r-oo.. .1. 3a . '" "
loon Atihlaon stn e
l.fllllt II I .ci a. .
l'"l do I'.ii 7?;
t tlltll 1au1t ..l1.a .... m
'L';.';.','.' ;ki-."' t A.'iuis i'i-
sonii Iwrdo ii.. . ,17.
fmiii en at .-. ltiji; iiv
2nil do 5a 10.11 iiji'
SSOiiil Ch i. IIIU, n I'. 7J
'leie.ii ,1,1 at.. r.
370(111 .In rum
M:V YOIIIC, March
Puitliir weakne?! was rhuwn In the I
cotton market todiv on renewed gen
oral Felling due to a revival of price-
fixing rumors and unfavorable advices I
from Manchester
Thetc veas heivv local, western and
southern liquidation. Old longs were,
among tho sellers demand from
trade. Intercuts caused occasional rallies,
but tho geneial tone was unsettled nnd
feverish at thn close, with prices show
ing 11 net loss nf IS to 33 points
The start was 7 to 10 points lower
Low e'ln.e on ol.t crop positions, but now crop
L.I. L.i- ....It, rm, .1 1 In ! nnlnl. lilnl.A-
"'T Oi U HUlin U 'IIIKI 4 1" V I'l'llll, lllf.Hl I. .. - - " , ,..1111,
H hrlid hv an aWwv of rain In Ttxa;. i JJ ' roportnl that a number of.
-t..a i. , .i . . -i..-. .i....-i...si .. tiiin nrttiiin iw.r. nn.i ..tu... u.-. .. v
I'lPUl wirniim ww 1 1 ink, uoritipfti in . - ... . ..v. ... ri-'cnurii oil
SJ
.North llakntn I liselH'ed tonlilit ind z
Siind.ti vtnrnier Mindne, " 11
snnll. llnLntil Itr.k.K .!...! , ,l. 1
nd rnndat. nrnbnlilj snow und lje;
keiiitnen.t liint.lit. "
Nebraska fair tonlilit ami fcundai.
sno In exlrrnm e..t teinlitlit coldfr etit
tonltht, wnrnier hnndav. sU urr ri
Ituiisi Part iliindv lonUM and Son.
wet Kilnj. i0"thlt roier nortb-
Moiitnna Miid VV online Part clonii
tonlclit and sunil,i.
CHICAGO, March J.
irado in oats veas light this mornlnt. 1
but, after opening stead v to a shad. :
lower em somo selling by rommlEsloa '
linilk.,1, II, ,. . ....! ... I n '
..-.. ,v , ...v ,,ii,i, .i.'L Hi-c-iiiiio nriner.
ji;
so'
s'.'j
7ii;
Mi
in
;i i'l
so Tn". Tn .
,7 ' 'III Ut Went 4s M', illy ,i
4 ::"::r!:LJ'.i!'"nt .".-; :,' Si.:
iiivi, , iph tiuir. ,,, or
lljOO e'hl 11 It o 111 qlz. r,
I'lOii e. M up rfd 4',. (,7
(l((0 cl rt 4't, . 74
I(iO() do 4. .... Tt
joiiii cu of pjri, ii, , s-,
i un i,r do j'naco Ot in-.., li,
,-,""' "' "ecur Corp 5s 7li. T'i',
Xl Vl'1 J:'" lJ?r i C', 4ui;
U iienrn urn .iLati, tn, pe'.
30(10 Interb u T ref .is s 'f s"n!
!'!! JP" r ,M-r .Mar c p i 4 $ '
7.1
SI
74
..I',
7 I
SI
lir.-.
79',
4(11,
till',
so'.
ihIIv the list almot bark to last night's
finals on old crop months. Later, how
evei, sharp ieceslons occurred. A
private cable said that after March IS
operating spindles ln Laucashlio would
b rieluerd from SO to liO p. r cent
P.eports leaching here from tlio south
tend to .le.etn a belief that llin total
ginning figures villi run ahead, follow -Ii.g
overestimate on tho crop, possibly
bv several bundled thousiiiil bales
The Uovernmeiit on December 11 fore
cast u Jleld of 10,919,000 bales of COO
pounds gross weight, tlluning prior to
January 16 aggieR.iled 10,06t),17o run
ning bales, couiulng lound as half bales,
fuirent reports from tho South Indl-
cito that gins aro still In operation In
i.'.
,.r... ....-.. l'. mi nielli., .... .1, ( i.niinn 'nnnrii in re.i , n.
tVi Asri V'hem 77. ' . . '.'J'. I I'll "t Nalional . . . -s ...7 ' .flon K niy'TeV lit 4. '::' -' li' I tno eastern Pelt, but, of couro, are turn- ""mi. nas neon exceeded
Amlie.t rtuar. si-, i,;, S, ,v;; ,.;' tlolilllfW Merger 4 .-. i I iilSSi 1 "!'Tt "ni) :,i- 7. H7.5'! ni 'on ' '.. out low grades. Tho National Oln. "' ' w ,cr
tmer.csn vr , , s-, ,. . si, rk lioldlleld Cons ... . a. 7. in i.i.i .flu'l'. M" .', nii.r.o tiii..io iio'.as tiers' Association epects a total clnninc ' orn did not open for sev
iriSiihiei I... ir; 5;5,.'.!isJ!!:! 'S!. !!!0!'!Se!' K01"""- i mm m" kani- i utt. K ".$? VM", of 11.100.000 bales or over, and It Is be-' utos ,ler he starting bell.
em ini en. nr. .,, YUiTi ' '-, j"iuueiei ixewatiai .. ii s .Tjo'''' Mo Pan sm 3s . ,',s ,-,7: i;,' hevc-d that this flguio Is not considered I Jesterda.v's last pi Ice of $1
'is siw Hi 5!!3,',..jiv-''.. Kssr- .:? " .: ixy?' k1" ss i: s-in i to,, mgi. iwi,ch was v,e lnlllril
all.li ,;?''' swf ' ,r,ti ' i V I Howe Sotitid . ' is i. a"' ,n! "V iV i.1,v 1" -1.057 ,T ' Tho receipt" for the diy are estimated ' p''e" ,nf.Ke1l'1' over that
V.n.r fmelt nf 1 ,, Norf t Wt'r -;i i,,,i,,,n,i..,,,.V. ',,i ' .' ' '" , ,'i '.'f ! . i '". '.'1 of nt 1J.000 bales, acalnst lfl.i.i". hales n ani1 B-tlt later.
Sn!.u! I'...!."' f:OT,slr?':1,?' e'V Jerome Vetdo s ... a'. lie ! aVa l "vi .1 pin i.,!.-. ill! ' ' week ago. and SilS bales a jear ago. , . ', iovoriinie-nt reoor t.
vie- Kiuar lt'i N T Air i'rak. is.i dim Puller .. . r, in ' 7 "!' ' v. H 4 H Us. S4 sj " si Yo.terdai's iiiiee-niins or tlio 1917 crop
mi '' w" IV, ' "'"o es rets rs , Jnmbo i:lensioii ii 17 m 1 ,1 , a l1 avV. '.'".'. V? ??. Is is !."" Pi' "'a'' -lo" , cnantnoie, hoio out many estl
!rOT:iv o.a;"'",5 ' S!Se,vrrra.8h .?. 'iea'- t? w ;! i ? 3? sis. Krr"unt "-s-
i.iiiii .ii . .,i.ii,i .ii in :.ii..'i :i i .. '
,-ai 'l.l x i.. .... '" "e
vm T ft T S I f '.''. Pun-Am Pet pf f,ii? i Jintlier I.od
.... (Vnei tirer 11 ii, .'ere Mi, . . .Mines I ii
m Vine i. I, Pj 4(1 I'ere M.rn pr -,o
t.i li il lt pf '! "a Oaa I' . (7
tn.) ui. . . ',- '..euria a l.js, 41
AM. on Vft 2. SsS" .-' N J IflsVi
AH roi't I -tne ST, Phlln Co " '.':;
vtl 11 W Pf OH. Ptta t'oal prer jorj
Mines Co Atnei
Nevada Mills . .
Nevada Wonder
Nlplsslng
Ohio Copper . , , ,
Jiay neicules
:n id
I?. IS
to
m; i,
s'4 s.
n 1 1
? ! ,rn"' er cl " si,. ""' "'
I IMS I do en 1 4'. a. , lull! .M,!. p,.(
join) I're Maruuett :,a si.c; mi! Li!
101.0 Iteadlna sen 4. sl'j sit! EiV
.-.(mil lk, ..-(- e- ..!. :':. vv.
rirtohpi . L"t 07
llei einl.er 211.5(1
Sput .1". 4(1
I'l PO 30 0(1 20 (,-.
.'J SO ;.. SI 29 41
speculation, but tho liov eminent will i
not permit grain to bo moved Last for '
Which Hl.lnner r,,,,., ,..,,... . . '
, : - ...iiiul in uiiuio c:oiuriLCis a
bhowlng that It has been sold for . I
port l
Tho forecast vvnn for cenerallv iint.l.
tied weather In the west becoming clear '
tomorrow, 'l'hc tecclpts here today vver.
(UI I UI"
.uarcn opened unchanged at 91,q .
and later advanced So Miy rard '
from SSHje- to SSSJe at the outse". '
against sa.ir nt the end j esterday, and ,
ittier boiu at, s'jsc
Thn undertone ,t Liverpool wn j
steady, with stocks Increasing slightly.
Tho amount of oats on farms, 655. v
..-o.ouo uusiicn nccoruing to the Gov-
only once i
eral mln.
Hmers bid .
.27 'i for May.
quotation, while i
tiuotatlon ;
showing only
to ho met-
mates, it
n",90S,0M
Tho receipts here todiv were 237 cari I
.vioii .Sinclair 7 . mp.
(ino i, I ji s.i h H
epnei M li H i' lu .. 41(1,
..,.. it,, ricr j . . , . ,,i.
Slpj
4l'
-
Sll'l
74
2'.!..
f.rli.
LO lis I
it "ii rron noW8 from Argentina continued
, LXl.ri.i
101.521,200
2,n.2I.P00
3,733 100
,OI.42S,3llO
Ws B..ervo Hank of
(xkvtC;?.!..
'let,r.(l ondtpo.it 311. Slid 00(1 t .S7.1.''(S
!? ircrcvniaai. ui .Kile, j(.a, ucLrcaBC, t o
JjHT'C.nt.
Sii'itrATE HANKS ANI TUUST COMPANIES I
"ITFUKIT llEPOHTINa TO CLEAIMXU HOUSK 1
Laiina and lnve.t-
iwenta ....... .
fold .
Bp.sr2e7.'..."fc
k.nn.i
u
t. 1 11. A I'. lflltl.li QaK A 1 n.ll f- -,.f
I other thins If biibscrlbcis Immediately tui ii nrotind and sell thcii new iiioif.! -. ';"d HticV ,,f ,,'," htVx-art " ' -...!', . u w Soili I'icrv.. yajj o.'ij ;;'i ' poimoti 01 lotion
lioldings-nnci sen tneiu e;iiicieiy ocioie , KU . a .iiat-ouni ?.Z iMIn "' !''l ni i.t pf iVv ' T"l'ah IMin-ion n. ' it 'S1! So,."h "V c'n !l I, . , , ,v,
,,V,l?pli;:,i 7in, ned!iie ,i i,r ..I In tod Verdo tn " ... " -"" do con 5s , . p.' p. I, ' 'Total vl.lble
Demand Loans at Sliukt Recessions 4 BS - ' S WSK 8 t t !
Demand loans on toclc l.xcliango secu.tlles have been uvnllable Kylf',. tft J ; " S .US'" o'J " ' ' i- H sUl's ?'-., j!',, . ' ifti.T.1
ui.-. l .. eb..v .Lw-.... ...... ...v, ...... ..... .l ,,l ....... .;; ,vtri,i pt, 41 ;:"'ei.. . s ..L... i ...i.t '",", ,.."1' :: ".. ". i
Nevertheless, the money position is one of conceded strain. It is not ..-'X'Ti- fc".-n0uuck i-o'; Hethlchem As ,,-, . . . S" ' fcS" '' wt S't "-, wl I
I .iiit. . n,.,l.n l,-.t xtniil.l I...X-B l.ee.i tl.n renl Pnnilllle.n. In linnl-. I '."' ,'.,A .?' 'I.'..-, 'fa.ltoMi " ... " J'.'S .4.1)CIC,H As . . , , I ;.. ;,;. 131.00 do 3l',. 1921. ((2: 1cm! i i.il? I
"'""" " - - - - - - - erro .... -;"- s.abnl a I. . .? " "iii wn " so s.1 1000 v, r.w. 5 . , im j, " in m t -xe-nr. r.
ing circles today had the federal Reserve banking law not so oppor- i't'tfffl.MSi, gfcMU.'' " iRSftl'M-0 s "? 5SSI! iJC.tf .','"' .. LI!' !!"! !gs TAXES S'
mnelv been enacted befoto tie war strain Pecan. The special mnnev- i Col s. i pi h'. st.na i,i,.'"."i mi ,.,...r.... ,,:..,.. " '- - -' '
-. rf ----- .... - . ,. , ,..,. :.::.-. .'ini ur Li' i.uneiaii i.uv ii.-h .. it ....
i in . -.- -, v -. -iruiiriiiut,.. !."; . .... -.-..... ,,,. .,... .. ... .. .
Comp Tali nee. 27 xtin. xU '" i'l .. "". .."'as 41 4:1
. . 41', so Hallway na . . uas'. n..
Cotton Statistics
New York. Mauh n Tlie statistical
is us follows:
l.at l.att
week week jear
1070 013 4 C00.43I 3.020.53J
.1,469.093 .1352,134 3,783,339
9,000.372 S.S11 SIS I0 290 2S)
J74i,n2i,inoi32,749,son
14,35,400 a3,4.0 JOO
Bwoalta, federal
. '
J 2.1 1 1. WO
171.200 1
e..rve Hank of
r York . . .
tal d.po.lta.
51,301 ion ! fins.iiAii I
MJl, .111. 3011 .IS7.7..4.2l(0
'SeMtfS!1 d.po.U" imo.OfB.loo lell.KII.EOO
JH 'JRa.rye on depotlt 130.130 Oiai 2S.O77.I0O
Jt j B ISMtitstatrni nt rvtari a M.1 Inirau.a f
r-S aVVVl..iV tt.tt.m.tTU .., I..V. ttl.Vl U
ifeJf ii
Ct ' XI
r,.
S1.
"Decrca.e.
VJ
P
Financial Briefs
fiS j irmu .arnlnVB nf fourteen rnl.r.n.l.
iat'.Jpr tile fourth week In February wero
fcS'.fMS'LSlT. against 7, 110,045 the same
u ''.li last jear., Tne-increaso Is l,-
.
f-.TlW New York Subtreasury gained
,000 from tuo imjiks on Friday.
nrnerclal failures this week In tho
. ncttira ra .11, ufcainai ?u. isst
ttB .Via nM,,i(lnff ., a&L. .. j n -
Wsrroapondlng week last year. Fall
1 In Canadu number 23, against 27
',weeic, id 1110 precco.nc week and
k( year.
(y i
K" Ilarkllo Henry, formerly senior
MT or lienry & west, now succeeded
Henry & Co., has just been com-
aeq lieutenant commander In the
I etates Naval Reserve Force.
3f
sY0RK. CQFFEE JIAUKET
r rnnif. v.rnii e ti... ,..
naactlons In coffeo future on the
alt this lnarnlnir. Onenlnv la, id
. to 1 mints lower, ,
,;f Open Illch lxiw CIo. clo.a
,,,'.. fj.43 ... .... g.t3 8 44
Lv. H.B5 8 37 (8.37 8 5(1 S 34
S.U . S.OO 04 ' 8 93 8 63 s 03
lC,.-5 .i , .. .flT 807
If'f.8.74 . ... ., .7e 8.77
.ar-
riDENDS DECLARED
BereiV Company, rerular qui
refill payable. April 1 (o .lock
.-Kocay Jiounl.m.ana Paclfla
kuUr nuArierlv ur 111 nr m-h.
(. jHuafal March. So to atoek of
M, IWyk. el.W .March 20 and
arnvrtion coenpanr. uual
wamra SK
commlttco which was ctcatcd to preset vo workable money eondltlons
during the distribution of the second Liberty Loan has been called back
Into active operation, nnd has released at various times within tiro last
fortnight considerable sums for demand loans In order to prevent .1
C per cent call loan rato being exceeded.
This commlttco will continue to piotect tho situation ln this respect
during tho entire peilod of the April loan offering, It has ample facili
ties, borne bcventy-tlvo banking Institutions at this center havhu- pledged
funds available at any moment for the committee's use
Time Loans at High Rates
Ab to time loan", tho only quotation available Is 0110 of fl per cent
bid, which means that accommodation is bubject to negotiation. So for
as tho large manufacturers nro concerned, thoso associated with the
production of war materials for the Government nro receiving their
banking accommodation from tho Treasury rather than from the banks.
It is estimated In responsible quarters that something llko $200,000,000
lias been loaned out by tho Treasury to such manufacturers, 'The annual
leport of tho American Woolen Company, which has Just teen Issued,
indicates, for Instance, that for tho year ending with December tho Gov
ernment made cash advances to the company amounting to 3jlG.4 00,000,
against which sum deliveries of goods now are being made
Earnings Statements Encouraging
The various annual reports of tho industilal corporations which ate
appearing from day to day aro certainly encouraging, even after making
due allowance for the excess taxes for which preparation must be made.
Taking the reports of twenty of these companies published during the
last ten elays, it Is shown that the nvetago earnings on their common
slock during 1917 was 28.21 per cent. The decrease from tho correspond
ing Bhowlng of last jear, when tho averago for the same companies was
31.20 per cent, was not as largo as might have been expected. Since
the beginning of the ear reports from sixty-three industrial companies
havo been received, indicating 29.92 per cent available for the common '
stock as a result of tho 1917 operations, comparing with 31,38 per cent
in 1916.
Good Undertone in Stock Market , ,
Tho stock market lias displayed a substantial undertone through,
out the week, though there havo been temporary periods of pressure. '
Tho large commission house all report a scarcity of stocks on hand,
which they Interpret as an Indication of a "bearish" position and as an
Index of a sold out and "short" general condition of the market. The
explanation of this position Is that operators are looking forward to
selling pressure on general securities as a preparation for the sub'
scrlDtlons to the Government's bond Issue ln April.
fcJ.C Railroad 'atocks In partloular have continued firm, owlnjr to the
l!lPSafl
msswnji
- Un'l.Iat.
.VtMt !.,,. J'1
Him SteM J,,
no iS 4 4;j
. K) 1 En llu n flu m-, ......
f nf nil " ii .1-: rti .: ' ?: Vi'
fuba fane bus ".' T Ht j. x, u ! ,. r inv.,., ,.
cnbcanesapf s,;, SstWw'Sf .' LOCAL AlIMNf, STOCKS
ne'nVTIflrref- C. t'nd", w-'T tiViM , !' v"J"r
, Uen II Q rref s I'nd.rwd -r'r 5V.; M-,Nmara
ti.trolt Hdi.ou. 125 . I'n Dae isfJit. ,lw",y ;
iJV.oTiiat . r.,;i A rat $ I K X- " :
lien cnemicai...,(i. enittn nrue So.- '"
inhl'iniV. & Hnii:.! ?,$ fe $ -. ' &
I s.a.n fan Pen 41U TfnM .. r-.."! - .! f Uootn m
'lilf Btate. Kit. HJ f Snilhl.t pf iM' J 'Ulnulidlleld B II j
H.rtmanCorn. 3J If H C I p A "Vii" J-,,,y '
Havana r.leo 1JI If H c I P pf. 41 ''"" .07
lit Aerlfulture 11 IT si 'fi.iiL'T" 'i Bl vrr Pick ..." i
w h iitnui irn .-
I
SHORTAGE OF CARS
TEEL TRADE
- .-' .' 1
...... I
4SU , Uffr"' Incrcasetl Congestion in Yards
Hid An
1. 1 if,
13 .111
.OS to
.US ,11s
,ns I-
.04 04
ICI 11
HANK CLEARINGS LVCRKASi:
Gain of IV' per Cent Compared
With This Week Last Year
Throughout Eastern Sec
tion of Country
Tho receipts of wheal here today wet.
seven rars Flour mills In .tlio United
Kingdom wcro said to bo operating more
freely.
Tobacco Co. I'ajs Extra in Scrip
NIJU YOlllv- Mnr.ili n Tli 1? J'
Itel Holds Tobairo e'omn.itii' l..t ilerlared i
tho regular ttunrteny dividend of 3 per I
cent and an extra dividend of 2 percentJ
on tho common stock, pavablo April
to stock of record Jloieli 21. Dividends!' i
nre payable lu notes or scrip dated AprllSl
1. 1918, and maturing April 1 1920. rd1
i. hi ueur ineerest at ino lato of o perjti
rent per nnniim payable semlannuallyjfa
., ul,.l.u.,i l mil. 4,,l( l, il(. lllliril mVJ
scrip Issued In payment of these dlrl-fSj
dends may be redeemed nt maturity In iiJ
the preferred siock of tho company atfi
ji, vi in iti-tu Ui IIIU ULHJUIl Ql I IlC IUIU1
pany
a
ini.e Aarleul uf 47
Inter Con. Cr ;! IT H Hub lit pf loni
Int Cona Crp pf 48f, If H flle.rnraf.llA
Int IJarv.N J jsJH IT H flm i nVf, 43
int fsjirn! yi''' ' n phi s it pr 4(
i iliah "r Corp, li
3S Va.Car cuvm.l 40
re
inn Pt-ntral
jnti ' , ? va.ua r r"hvni,. 40
'!! Viy. ro Pl V ; --tr un nf , lot ft
T.'s.lv.flnrtrisr 4rt Vm fi m. ..:I
tv:;t; x'vv m::: u xcz
MI.HCELiaNnoUH
Arizon I'nlLed 15
N"tsiiiA A'unir. , . 1 y.
Tecopa Mlntiic, .. ... .10
44 U'atvtuli
ru
NLW YOP.K, .March 9
P.epoits lecelvod by some of the lead-
Hank cIenrinr- I.. .i, .. ., '"B B,'el companies In this city during
oftKSJr laf ,"u d"c,05?1 u" f ""
show a gain of 14 2 per cent comnared lhere Iias Le-'n som0 'ncreaso in tlio
with tho same week last j ear. Total 'ongestlon which has prevailed in lha
tit....?.. " .o.iua.con B, ngalnst ' '"ruB UJ l" mams loraieii ui inn east
Ji ?'? sS.JM last week and !n,348,lS9,-1 rn section of the country. This con
.. Phila,iMnrar,rf"Eildlne ;vek 'R!it e'ar dltlon Is duo primarily to tho Inability
.Vr l"ctan2 follov??1" ''' C'3 'r rem o th0 ""roads to supply sufficient
mi i ii i g ,ni7 cars t0 no th0 fln.sheel products, and
'.'i!Nw v'k J2.0d3.3so asn 2 541 sis us j. a.i BR - result the storage facilities of tin)
K2 13. f. '9M!".2U 44s:i,oi.I,T 1 i..!t steel mnjceis aro taxed to their utmost.
"i i ni s "Tn unq nn.i ........'..:. i ... . . -
If anything, there has been a further)
slight falling off hi the demand from i
domestic consumers, but this Is consld-1
eied natural In view of tho fact that I
present flted prices aro to bo In effect
only until tho cnd of thts mouth, and
before that tlmo thero will be a dcc.
slon on what quotations for the futuro
shall bo, It might be said in this
connection that the steel salesmen are i
Sulli
9
ivan s
.its rsi(.
"' Iio.ton. .
'"Kan City
s VIu
. Ptttab'sli,
. ;0 , Detroit..
1 ?J llaltlmoro
18IN. Orrna
270,RB2.(lllil
1114, POO 200
1 80.000,00(1
1811,024.707
HI.17H.X52
rs 948.831
.'I9.H7U (IH1
48.2110 Will
51,700,803
2S1.llri.14il - 5 .1
1113,780,(171 -H7 0
1011,903 Hr7 01 7
117,872,149 -MIR
l.ft.070,011-, 4 20 8
112 488,824 8 8
40 MH8,1B7 2 4
lll.nod OIJ 4-410
31.309,109 74 7
Reserve Danks' Discount Rales , 1:rit.l' c ?.
Ofllclal discount rates nt the twelve ,?,?' -..i'1 230 Cos.Otl I8.S91 hj.ii.i
... t. i7iiiv,iui uiovuLiiiL iiiph ii r inn iu-aii'a . ww uww.ui-i ia.sin a . in n
i scirnf uhb . ri wanasii nr it ait. VdiiAP-.i na.api. v,n.T ...A .i.. " : i iJU.nr cii-
!-;;.,Wa Tire lis : J, ;$ , 't, flrHrcolumn lv 11.? iu. T; , .'.' not anxious to book mucli business from
:Sui.iN-a.h 114" Well, r.'rti' pr so I "" ""''l!' "" '" "nrt ""'"""r"'' flf- "u" " '" "" . sio.2M.50s , 22 r, j regular ciianneis in w meantime. I
, vtaekay Co. nf my wj. " p."no SJU I tee n-day maturity, the second for a Total all ' Virtually all the Interest In the trade I
I Manhattan El . 08 ,K iv'eat.sid ...'.. je3 ' Period uf sixteen to ninety elavs. The I eltiea n3 i nt present atUches to speculation as to I
Wa'ral fopl.? . MU vv.'.'t f'ni. rtxS. lhlra aml four,h "I'lrnns give the rates ' '.'. ....I3.0J3.137.S72 M.3S1,830,423 u lt what new prices, If any. will be an-1
I eh CeM?Sl.r;:lii VV.h,a"l."t W'MS for '1f,ou"' collateral loans se-," drJ .1."' j 070 4(1-S8t ai-. ... .'!, . noumed. It is known that tho officials
.I'M. s2 'i-SZI iS Xfi'! .""' :""' '"'"'nment bonds or notes.) ' l do- '"""'""t !i-fis -J2 1 of the smaller companies are In favor of!
, W r"" n "t,".' Mo'tc?.'" 'if CoB,'1iVtPo,no "ov'i,."'.'S ''tf.'. f.l a 'wable readjustment on many prod-
Ji'V.."'" e!c- ".'''"" .Co ..: 54W HatiVa 13 daja' elaja lSd.va d., I thi vv5k;j0.105.00.253 I3.348.tsf. -a,, .. .. , ust. ad that so far as plates are con-
S ZiZl'y Co Vr'.i iV w i,.-Ov.r?i of kits K.wYDVk sv J. el i ' . -"" " "" cerncd virtually all the authorities nre
SK fer8.'"' 4-Bl & ?4 ?J' fti.ia . ..: ,'J Ji? ft i MONEY-LENDING RATES ?r c"'''""""e higher tigur. to the
Mil Jifr i.t it I ,Vor,,n !. M. 41 c .. land . ,.4 4', aij 1 .,....,.,,.,... ,7 - Government.
:. Mo't -AW. 22V1 &S rnr,rV vvv-"- "."l0" - 1 1J? Si? 4 I .,.?. llkAVXLJ"a . P". Ant; The Point Is made that In order to
ll.a I.t Pre,.. U4 Sr.f fl ..... a3
RAILROAD EARNINGS
CHICAOO OllEAT WEHTCnN
rnurth we.lc F.b... 1809,781 'itt'ooo
tfsntb 1. Sin no U'Ssv
From JanuaYy 1.... 2,401.000 2S8til
TOL15DO, 8T. LOUIS AND WESTKRN
Fourth week Feb... 1103.982 113877
Month l!8-28 8 208
Frum January i.... 878,790 lls'saa
CHtCAOO AND NOrtTllWKSTnrtsi
Jamiarr rron,.,.,,. 17.172,020 M903.0SB
Htcrt.it.
DAR SILVER
,J t;1 v.r-.'9iK
.lli,..i
..I.II.A ....
Chicago.. L
re. aesuia ...
Mtnneapoll. ,
Kan... City .
Dall.a ......
ban lY.nclico
4', hv;
4 Ri,
i a".
BANK CLEARINGS
Bank el.arlnt. today compared with cor.
te.pondlna' day I. at Ivto ear.i
1918 1V17 1010
Phlla, ...158.170 103 l.1t,7in.l"R $1ljiiH VlT
lloaton . . S9.7l0.i88 83.528.112 33,833,010
GOVERNMENT BONDS
I. reil.tered 1830 ,.. "i'-i AuJ
mm vviyyvi) FviI!ll"' ' "'" ei-1 ,
8. realturfd l18,,,..,,...,, oSI a
C!omnieenlni .... '
per, three to four months, 500 per cent
six months, C per cent. '
FOREIGN EXCHANGE
Vl'AV YOHIt. Unroll n ti.. ....
I for foreign exchange this morning was
.,..11 nn.i .1 linhfl .1 .,.
UU1I Will. hiili .lu,
quotations were:
Demand sterling 4.7e5,il cables 4 7tl
7.1U. tilxty-day bills were quoted it
4.72 and nlnety-day bills nt 4.70. liotti
nominal. . . '
Frapo cnecKs 6.73',,. cables B.7051.
Lire checks 8.73 !i, cables 8,72. '
Uuildar checks, 44 H
2I.I.6,
cables 5
, nnc.Hn ui.no W..UV. UltUirS 2
HwIbs checks 4.49. cable i.t
Iluble check 13, cables UU.e
"tiMMtt.W'i.M aiXOiMDU 8?.-,
.-.. ,....,... ..I7..
speed up the output of plates for shin
building a prlco should be named which
will permit a small profit to all makers,
and there are some Interests in the
smaller companies who would favor a
difference In prlco to tho various com
panies In accordance with their coats
with a distributing head giving the ton
pages that are to bo supplied to the
many makers.
Theso ate some of the matters that
must be taken up when the members
of the general committee on steel and
steel products of the American Iron and
Httet Institute meet with the War In.
dustrles Board, and there is no doubt
that the Government authorities win k.
glv.n concrete. Information as to Um
T" lilt llUlillir f1 tt-sWlaV-tnil.T:
Own Storj
Stones galore about
John L. Sullivan have
been published since his
recent death. Scores of '
histories of the "cham
pion of champions" have
been rushed into print.
No one can recite the
narrative of his wonder
ful career from boyhood
until he lost the world's
battle in 1892 better
than John L. himself.
William H. Rocap,
Sports Editor of the Pub
lic Ledger, is the posses
sor of Sullivan's life his
tory from the latter's own
lip. It is a thrilling tale.
No one who is interested
in boxing or in physical
training should miss it.
It is being published in
dally installments on the
sporting page of the
morning
IC
LEI