fiaw"- " " '"'r'; f-fffi?
- . snx?
a v
-I
t
i
. f
4) ) . .V. 4J
r .- -
h i - m
rV.
r ic
gTENIKG , PUBLIC r LEDjQER-PHIIiADEBPHIAV: THURSDAY MIGHVg; t lm '
.'j
H
If
b;
f
"
Joint Stock
Land Bank
5 Bonds
These Vioihis nre Instru
mentalities of tlio United
States Government, tiro
exempt from nil federal,
state, municipnl nnd local
taxation except inheritance
taxes, nnd nrc lcpal invest
ment for nil trust ami iidu
cinry funds under fcilcrnl
jurisdiction. They arc duo
November 1,1938, nnd. re
dccmablc at par and ac
crued Interest on any in
terest dale after Novem
ber 1, 1023.
For further purlici.'arn
send for eur l.citer E-i.5
GHANDLERX COMPANY
lianklin Bank Building
Philadelphia
New oik Boston
FINANCIAL NEWS CLOSING 1VEW YORK AND PHILADELPHIA STOCK QUOTATIONS
COPPER ISSUES ADVANCE,
ALTHOUGH DIVIDENDS DROP
New York Stochs
Ady' Humel,
'tlo prefi. .,
lllsh
23',
61 ,
iVw York Market Proves Its Immunity to Bear InfluMJoSi.".
enees Most Other Stocks Arc Established at
Higher Prices Oils Prominent
High Points in Today's Financial News
Strength was shown by New York stock market, nearly every
thing recording some Rain. Coppers advanced after announcement of
dividend reductions. The Curb was active, with oils leading. Corn
rose to new high level, but declined later on profit-taking. Cotton was
irregular, "new" contracts being up nnd "old" off. Foreign exchanges
was uninteresting. .T. (!. Brill stock became unusually active and
s-oared more than 11 points on the Philadelphia exchange.
..'Alaska 'Juneau, 1 1,
' AiiiB.uiiaimtrn. 35's
Am Ar Chein.rTiI
Am liter Sucnr 73 .
'Ami rAH , . '
..... nn f . . , , m,..
I.niv
S3
60
WTk
3.
1'
3.1',
102
7214
46".
Clnsa
!3
Net
rlis
61 Ji
s 4-:
3,
i"i
3i;4
10J
7.111.
?
BUYING IS OVERDONE
-IN THE CORN MARKET
l'i!
', I
'
uo prer . ...102, lojii 102'4 ,
Am Car & Vdy. 91 Oo, 01. i
Am rotton Oil 4S 44 44 U
i
ll,
'ft
Prices Sng Under Profit-Tak-1
ing "After Touching New
High Levels
Am Mnicrfrlota 1 J 1
Am Hide & Ltii 19',
0
6
46
64
4i,
D',
-B
13.
18
36 V4
6ft
144
63-
4B
sD'J
65
66,
Lackawanna
County Coal
Stock
A unique sinking fund
provision of thirty (30)
cents per ton should re
sult within a definite time
in the payments of
'Extra Dividends
(In addition to regular ik'iitnAi)
aggregating several times
the outstanding capital
stock.
Sew circular upon rcquctl
Traded in on New York Curb
Gwynne Bros.
25 Broad St.,N.Y. Pnone 3232 Broad
New orl(, March 6 'Another demonstration tvus furnished in the
stock market ir.idlnc todav of the buying power that It is4 In thn
market from outside sources, which Is Intent on acquiring securities,
without repaid to developments pertaining to any special issues.
It was Hcaln shown that the mnrKct is absolutely Immuno to bearish
influence bj the manner In which the copper stochs acted after dividend
eduction I'tnh Copper, which had cold at 6"' before the. announce
ment w.is made of the reduction of the dividend from f 2.50 to ?1 B0,
moved up to 69 when .the bdd news was published.
other stocks. In which there was nothing in the way of news develop
ments, weio In demand at Intervals during the day and were generally
established at higher prices, .although all the important banking Inter
ests had seemed to have taken n united stand to repress bullish actlW
de Some of the room traders sod stocks when there seemed to Vs an
.ill-men of inanity but It was ciulcklv In order for them to iocr shorts
and bilk ndv.im.os were made nil through the d.t
1 nitcd States Steel made steady progress to higher figures in the
f.iT of a hc.iw supply of stock from banking Interests and advanced
more than 1 point, to abovo 03.
Petroleum stocks maintained a prominent position, with Mexican
Pettoleum advancing 7 points, to abovo 1S3.
Industrial Alcohol also had a IoIcnt upturn, making a gain of 5
points to U6'j. and the "vest-pocket" stocki, like Kelly-Sprlngfleld,
were lifted to new high records.
The feature of the bond market was the demand which developed
al. the Liberty Issues, with most interest attached again to tho Fourth
l',. brokers .ictive in the trading in that Issue stating that the govern
ment was .tgain in tho market as a bucr on a large scale and purchases
supposed to be for government account put ihoso bonds up from D3 S
t.i !mo
There was heavy selling again of the International Metropolitan is
sues with the 4'jn dropping to the new low record of 35.
do tiref
'Am. Int Corp
Am Ico Sec
. do pref .
Am. Unseed
do pref . .'
Am t.oco ,
Am SniMLIn
Am Sum Tot:
,m Nteei Fdry 87 8n
j Am Tel & Tell. lOSti KM
.mi luuacco ,.iu6'4 135'i 19BU
do nref new.ini tni mi
ui , oni . . , 63
Am Writ p pf 4S-ii
Atiaconda 60'4
Asso Pry' (ids. 264
Assets KcM'n.. li
,1 unir-iMi
.''' "!
14 -4-
1!1i 1,
!3 2H
60i t
5t li
63 '4 U
16U -1-1
89 '4 .
-2U
663
684
112 lit
86
105'
7!i
36 ;
65 ts
6H
1(16,
Hnlduln Ioco
uauo a Uhlo .
do pref . .
KHtoptlAs Ann.
Beth Steel
do H
do 8 n c. nr .
Brklyn PJvp Tr 23.
Booth Pish Co. 20
Butte C & Z Co 54
Brunswick ... iou
Butte Sup Cp li
Calumet' Ariz 87 Vi
'al Petroleum. 27 "
do pref ... . 7t
i al Pack Co.
62
41U
B8Ti
23 ,
!2
78
I6J,
.r 14
6,n
64 U
1
J-lli
4-31?
s
C2'i
424
sn4
26 U
li
02
Wh
18
rr. ;
6S, 1
66 li
lis;
lftfi'i 10B4 -r '4
23
1X
S'
in
IV
73
82 4
23 U
:n
1ft
isi-i
ana Pacific. 1601- 160's
lent leather . 6
"erro dft P.c 31T
' nannier Mm. 1:4
dies & Ohio. .
Chi (It West .
fhl M"A St P
do pref
C P. I A P t c.
do 6 p c pf . .
' do 7pu pf, . .
Chile Copper..
Chlno C Cop. . .
Col G & dec. .
Cou &. South..
Consol (!as ..
Cont Can .
Corn Products,
Cruelblft. Steel. 6Zi(,
Cuba Cane Sur 22 '4
do pref .. 74 U
ueere 10 prer as
D7'i
3ri
69U
214
RBi
76
Ui
34 U
44U
231?
04U
73 TJ
1B"
65
t'i
122 4
06 4
234
60 4
764
18
32 4
434
2515
044
784
47 4
60 4
2 Hi
;f
'i
4
S7 4 M
27 4 1
71 - 4
62 4
160 4
68
31 T.
12(
r.7 4
7 4
354
60
214
664
184
344
444
254
044
- 4
14
24
- N
- 1
- 'i
4
4
- H
-I".
4H 'i
62 14
224 t
74 14
05 4
Del & Hudson 1054 1054 1054 14
Local Industrials
Only
Our policy is to offer for sale
the stock of nearby manufactur
ing corporations whose earning
capacity and executive manaRo
ment, "after investigation, have
proved to be bejond rriticis-m.
A dividend producer of unusual
merit presents itself at this time
and we will he glad to furnish
detail.1--.
Benner & Company, Inc.
Widener Building
Philadelphia
Branclien in I'cnmylvania
keadim;. yokk, Lancaster
COTTON RULES HIGHER RETURN OF ACTIVITY
UNDER NEW CONTRACTS IN OUTSIDE MARKET
RaiiRc Is 8." to 130 Points j Petroleum Group in Good Dc
Almve Old Style Trading. mand War Stockt, Lower.
Market Is Active Motor Isoucs Strong
KVTTI-1.V HKt.r WRArilKn rONniTIO.NS
Turk. Mured 1 Th
fnt Ia Inir
l?."'"C'"ur''" vrr" refnrdMl 111 l cotton
iinlt, h'-?n '""r"1"' M'mrhls Slid I.lttl
Ilnrk .10 N,.hMll Port Mnlth nn-1
hrrfpri .).' Attain,, Bn-1 Knojvlll 36.
.I'KSnurff A.1,1 Snii Alilnnln SB
' lork, March 6 There was a re
turn of aetivlt.v and strength to the
I Broad street Curli marl.et with a good
demand again In evidence for the pe
troleum group, which commanded most
attention In today'd trading. General
Asphalt ranged from 6l- to 654, and
tho preferred stock 'sold at 100.
j Midwest Ilefinlng, which was under
pressure ycsterda, opened at, 14 3 and
had a nulck advance to 146. Cosrlen
"..".' V.V "Huns antrvontEomTy, and 'sold at 8 and 74.
1 " " hnml1" The war stocks were generally lower.
New Aork Marrh 6 n.ra,im ,m iAft"' EiPlosivcs selling at 04 to 9;
,der the ."w l"? taW" 1" "" .
tracts, tl.o cotton market onened active
f nnt iim .
ri an.l (.jlifjinn. 44. ;. Orlennn snd
loi.d.-nij (g rnrpua rhrlstl .S2. Thom
,L i '',..' rl'"'"" "M Savannah. HI,
,,"' k""n1vMi"v ". hii.i Tamra. 71- Thcr
? JI! r?. nf Preelpltatlon at Charles
VJU. ui at J'"'"n and Shrevirort. .ns at
V.,l7. ''? "l aahvill' 2" al Thomavlll.
Denv A- R O nr 7N
Dome Mines . 124
niatillers' fcec 604
Erie 154
do 1st pref 28 4
Klsher Body Rt4
fJjston-Wrns . 32 4
Cien Cltar Co 52 u,
Qen Motors. 1554 152
do deb.,.. . 84 4 84 4
do pref . 85t
Goodrich B F.. 684
Grundy MlniiiK 68',4
Gt Northern Tr 924
lit North "O subs 33 4
Gretn6-C Cpr. 42 4
Illinois Central 07 4
Inspiration "Cop 464
Interb-Cons Co 5 4
do pref . . 19
Int H C new. 116
Int Mer Marine 24
do pref .. 103 4
Inter Paper t5 4
do pf Ma. . 72
Int NIcltel 254
Jewel -Tea. . 30 4
do pref .... 01
Kan. City Sth 194
Kan Clty'S nr 52 4
Kelly Spring- .1234 1104 1224
Kennecotf Cop 3(4 294 304
ijick yteei. . 6n 4
!hlh Valley 65 4
Lee Huh & Tire 26
Max Motor . . 35
do 1st pref . 60
do 2d pref . 26 4
May Dept Strs 6 IT,
7 4
124
58 4
I64
28 4
61 ,
314
1.J
85 4
674
6R
924
30
414
07 4
434
5 4
184
116
23 4
102
4
72
25 4
35 4
91
10
52 4
124
604
16 4
284
3f4
52 4
1664
4j
854
60i
684
92 4
30;
424
07 4
45
54
184
lis
24
1"34
45
7
254
36
91
19
524
-t- '4
4
J- 4
4 4
'j
24
4
4
4
"j
'4
l'i
4
4
4
4
u-14
14
-t 4
!i
1
CIIAI.V ntlt.T WKATtlKn VOnUCAST
fMraro, March 0. tlllnolatncrfaalnr
eloudln.M follow c-d nv anow lat tonlht
and Frldav ; alowly rlalnr Irmperalure.
JU'.'ourl L'nuettlfd and mmewliRt warm.r
lonlaht and VYMay, nrohatily snow. Win
ftnln tnrrcanlnir cloudiness followed by
llBht snow late tnnlaht and rrlday,
warmer. Mlnneiota Unsettled tonlichi
and rrldav. protmhly ItRht anow. loa
t.lctht snow tonlulit and 1'rldav with
alqsly rlalnu temperature. North Da
kotaMostly cloudy tonlxht and, Friday,
ywrmer lonlttht east. Pouth liakota
Mitly cloud) tonlht and rrlday. prole.
ably light anow lonlaht. Nebraska Un
(.tiled tonight and Friday; probably 1IW
anow eaat, warmer east, Kanaaa Un
settled tonlhl, probably Unlit -snow or
rain esit, cilirlitly warmer extreme fasti
Friday fair. Montana Mostly cloudy lo
nlsht and I'rldaj. Wtomliv Fair tonltht
and I'rbKiy.
Chlrato, March fi. Buying power In
the corn niarlut decreased today and
prices Migsed under proflt-laklng Ufter
they hail touched new high levels for
the present movement.
Tho start was weaker under scattered
selling by commission houses and local
Interests Induced by the reinovnl of
tho, fixed price for hogs, which was
Interpreted 'bearlslily at first
The opinion prevailed, however, that
the foreign demand for provisions would
provo to he surflcleiit to maintain the
price of pork products, and, lifter the
opening, there was a quick recovery
Bulls furnished support and shorts eov
ered The" buying was overdone and
final pikes were lower.
Oata alro sagged nfter having been
firm The start was easier under scat
tered soling, but a leading elevator In
terest and commission hou;i bought,
sending prices up.
Some of the purchasing was believed
toibc in the way of removing hedges
on oats fold for export The later down
turn was Influenced by a poor demand
for tho cash articles, reports that farm
crstln Iowa, were showing more disposi
tion to sell and lack of outside -support.
A mederato export business wna done
jestcrday rtecelpts showed no signs of
any material increase. OITerings from
tho country were inoderatn.
I-adlnc? futures ranged ua follows; I
Corn (new dellerj Test 1
Opm nigh fw C'loe close
May 1 2S, l.au", 1 ', 1.-J04 t 204
Julv I 23 1 .'.', 1 J3 1 24 1 214 I
(Mia
I Philadelphia Stochs
Net
lllih !.w. Olcse chge.
KOAm Oas.. 634 63 63 ..
3282 Brill ,f O 394' aSH lO'i
Gr.lec Stor 69 69 69 ..
370 Uen Asph G7 664 67 2
145 do pref. 09 08 99 --1 4
1180 l.k ftup C 104 tO'l 194 4
50 t,eh Nnv. 714 714 i7I4 -; 4
183l.eh Val,. 654 55 65, '4
60MldVale.. .? 42 i . 42 4
100 Nor Cent. 72 72. 72 4- M
388 IVnnaltU 414 444 ,444 ..
lOIMHaltM 844 844 844 ..
90 1'hlla Co
cum pf 33 35 35
74 1'hllaKlco 26U 26 4 26 4 ,,
1120 1' K Tt c 23 244 25 'a
200 Bending.. 82 814 82. 1 ,
710 Ton Bel.. 3 4 3'. -I'"
53 Ton Mln. 3 3 3 . .
36 U 11 I... 71 71 71
640 U S Steel 94 924 94 2
23 West Coal 73 4 73 4 7341
335 W Cramp 88.4 87. 884 4
lltlMis N't
High low Clr.so ibge,
$9000 lakc Sup
Ino 6s.. 634 03 634 ..
14000 hell Val
Coal 6s.l01Ti 1014 1014
13500 Lib Bonds , ,.
4th 44 91.00 93.8C 94.00 .30
7000 People's -I'ass
t c
IP 72 72 72
20OP I'll Co ten
1st 5s.. 1004 1004 100'.4
6500 IMilla-rjIco
1st 69. . 034 ?34 93, 'a
100O Beading
gen 4s., 814 814 814 4
1000 do Ter
ns ....103 103 103
GERMAN HANK STATEMENT
J. G. BRILL STOCK SOARS WILDLY
ON THE PHILADELPHIA EXCHANGE
at
Total Gold Holdings Reported
247,375,000 Marks
Berlin, via Ivtidon, March G, The
statement of the Imperial Bank of Ger
many, issued February 22, slu'wa the
following changes;
Total coin and bullion decreased 1,
729.000 marks, gold decreased 2.174,000
marks, treasury notes decreased 25,362,
000 marks, notes of other banks In
creased 38,000 marks, bills discounted
decreased 1,759,202,000 marks, advanced
Increased 2,521,000. marks. Investments
decreased 5,383,000 marks, other securi
ties decreastd '361,860",000 "marks, notes
In clrculatlo'n decreased 13,691,000 marks,
deposits 'decreased 2,100.854,000 marks,
ther liabilities decreased 37,020,000
liarks. Total gold holdings, 2,217,375,
J00 marks.
Advances 1 Wi Ponits to Highest Level Reached in Long
Period and Attracts JVearly All Interest.
Cains for Most,Othcr Issues
Interest in a generally firm Philadelphia stock market today was vlr
ttially all centered in .1. CI. Ilrlll, which 'niado a sensational ndvnncc'of 11H
points on the largest turnover recorded in ninny months. This rlso cariicd
tho slock up above '39, tho highest price nt which It had sold' In consid
erable more than a car, ,from which there was only a slight iCHction,
Naturally there wero many discussions In the Street as to vhnt had
brought the wide, ndvanco nnd iinu.siiul activity, hut thero was nothing
further brought out to explain the movement' than tho tcasons advanced
early last week, when tho upward' course began. At that tlmo th
opinion prevailed that theistrcngtli nnd .momentum was duo lo an nwuUenltiK
of traders' of the good position of thoiconipahy as reflected In the annual
report und-lncreased confidence In Its outlook. Mqro thnn 3100 shares harl
changed hands today before 2:30 o'clock..
There wns'a falr'amount of husLucss In Rapid Transit trust certificates
and their price showed a .fractional advance, while Lake Superior Corpora
tion, on limited transactions, moved up ',, (Jcncral Asphalt common ad
vanced 4, but the preferred yielded more than 2 points, lo 9S, from which
It had a partial recovery.
Tonopah Belmont again reflected tho resumption of dividend payments
by a small advance, but Tonopah Mining held steady nnd unchanged. Stor
ngo Battery. Philadelphia Effcctrtc, Philadelphia Company cumulative pre
ferred, American das and United' C.as Improvement also' held at or around
their previous' closlne levels, nnd Wllllajii Cmmn. which nttmeieri mneS
I attention c;Uerday, held firm nt '88 on' a fair turnover. Lehigh Navigation
gained fractlojiull.v. ,
Ralls showed a linn tendency, Rcadlns Company salnliiK as much -is 1
point. NortheriiCcntral advanced 4, Lehigh Valley u. little and Pennsylvania
held nt its previous clote.
United Htntc3Stccl common was not dealt In heavily, but advanced, and
Mldvalo gained 's.v Baldwin did not show imy reflection here of tho annual
meeting, no sales being, recorded tip to near the close, but In New York
that Issue .made, a -substantial advance.
Lehigh Valley 6s and LaUo Superior Income Es were the active Icadem
in tho bond market in which prleo changes were generally unimportant.
-l
May . an 4 HI4 4 m 6ft'-i
Julv . 594 hOVi M4 .".a'. 504
Lard
May ... '.MPS 15 20 S Ci 2"' 12 25 12
Julv . . 21 10 21.52 2t 10 24 47 25 47
nibs
May ... 22 X". 22.85.22.5-, 22 7722 77
Julv. .21 30 21 2 21.30 2152 2160
My ' ..4or,n f,a'. m..n 4l,20'.nnn
Julv . . 37 3. 3S 3U 37 3j 3S 03 t37 83
Bid tAskefl.
New York Bonds
oi
55
24 '1
24 4
68 4
and ceiiernlli higher. There was a big
trade In old r"ile contract? In the way
of liquidation, with Liverpool covering
freely, wliile -VaU street appeared to
be busy linluadlng long cotton.
The first sale of new style cntracls
at the opening call was at 23c, with
Oavle Young, the seller, and Alvln
V ...I .,. . - ... .
Water Works 4Mso Gold Bonds Yon'nV. ,.msPPrui.ng
FOR SALE
$1,700,000
City of Bethlehem
X
Series of 191!)
Tha City of !WhIhm orf'rs for i 11.
bond lisVc, de-slimated ' Wal.r AVorks 4'!
Gold Bonda, Series of ltlltl In lli sum of
IJ,700,000 conslstlnu or coupon bond" of the
denomination of $Msi or llouo. n the pur
chaser may rrefr burins inlerest at tlm
about 100 points over the old contracts.
There was so much interest In switch
ing from old to new stj!e deliveries
and In the differences between prices
for the two contracts that the Cotton
i.viii.ihi posien tnrso ciirrerenceo at
Intervals In a general way the under-
marine Boat at 14 to 13V, Me ePtrol . 183Vi 177H
t-'nlted States Steamship continued Miami Con Cop 22 "4 22',
Heavy, with sales at 3', to 3. Philip Mldvale Steel 42 S
Morris ranged from Si to 10',. making I MH 1'S.S St M 83
a new nic i record. i " "n ica o-
Motor stocks were strong, Kevstone
Tire selling at 67 'a to 59 'i and United
Motors sold at 12 to 42 ',i. Inter-Con-
tlnentat Rubber was heavy, dropping
irom I8 to u
do nref
Missouri Pac
do pref . .
Mont Ppwer .
.di Acme
11's
24'
52
76
30 S
There was active trading In tho stock
of J O. Ilrlll Car Company, which sold
at 30U to 33
rale of four and onf-balf rr centum (11411 1 tolm of ,1P lnari.P, waH ... . dv
per annum, freo of taxes other than succes. 1 ,, . marnei was sieaa.
ilon orjnherl'anc taxe.. dated February " Prices weakened right after
1VIV. ll, llliu, .,. n, .HriuuS OSIe not
less than fle (51 nor more than twenti-nlne
(20) je-ira from the date thereof the inter
eat belrar payable s-mtdnnull as ennced
r the Interest counons thereto nttsched
Alios ir in- rui.itd.- ,,, hip w noie or sny
the call,
with the old stvle months selling 12 to
17 points net lower, but later ralljlng
and there was evldentlv so much Inter
est In the readiustment that ordinary
features attracted little or no atten-
ivnusTniAi.s
Hid
n
txirtlon of the Issue III he rece,ci bv the ' ,
iinderslirned up to and Inrludlna- 7 n'eiA!.i, tion.
P. M.. March in, Itiia at hia otrice in the At the ntienlng new sty'e contracts
?vrhre,avl,rrncforurnl,X"rt.o,rVh'. ,,c,b, R5,' 5 pin,s br ,h,,s ,
ivunril of sa d City. All bids nms, L. I. hut bv the end of the first hour the dlf-
companled by a certlOed check : in R sum I fereni-e had narrowed to 70W75 points
old crop and 2 points on the new
tvhlch h-- 1 ron deliveries
attached thereto any condition other than , ,.. n-,.. . ia -n fi in , in -m
, lose open a in . m n m p m
2J 25 22 3". 22 .15 2J 3 22 S3 22
21 .I" 2.1 HO 2.1 IMI 2.t 01) 2.1 OH 23 1)0
companiea hj a ccruu-u cnrcK in b. sum ferencn 1
equivalent to .two per centum (21) thereof?, ',,,"1.
payable 10 the order of the city of nethlel 1 on ,1,p ol1
hem, .Vo bid will be considered which ha crop dell'
that It la subject to the locality of the
Issue. ...... .
The council 01 cne cay 01 rteiniehem re-
aervea the rleht 10 ree. t anv and all bids.
- .TAMRS P. MJ1HKWS.
Vlar. h
Vprll
.Julv
Superintendent of Accounts and Flnanca of Ju'v
ml tiLjr ui jirimriiriii. I i ' c
Attest! IJc.
s. J iiuuhi;h i-py i-ieric
w.
2 .".7 21 "it 21 7n 21 r.n 2i.r,n 21 on
2 75 21 "i 21 7il 21 Ml 21 Ml 21 fll)
III T.2 2" .10 20 an 20 30 2D "1 20 d.'l
ID 3" IH SI 10 M I0.K5 10 70 18 70
' Liverpool Cotton
l.lierpool, .March 6 Spot cotton
was quiet today, while futures were
11 regular The sales were 2000 bales.
There wero no icelpta Spot prices
were Amrlcan, middling fair. 17.33d:
good middling, 16d. middling. 15.37dv,
low middling, 1 1 32d . good ordinary,
12 S0d . ordinary. 12 27d
Income Tax
Returns
WE EXTEND A CORDIAL INVITA.
TION TO AVAIL YOURSELF OF THE
SERVICES OF OUR STATISTICIANS
IN THE COMPILATION OF YOUR IN.
COME TAX RETURN.
.JSHnCn. HILInll tX lllllrlll mm i , stock of record .March 1
aun TITI r null niue 1 British inercan Tobacco Cnmranv. Ltd,
laHU IIILC. UUII.Uini, lsn m,erlm dividend of d per tent, payable
nnQ-rnw diiii nnri puib r.mr.ir.n March 31
I , It4"lt, . rnisi'V -' 1 kiv , uiir.ii; 11 1
' (1 7.1 on prefrrert paable Arril X to itoclc
or recora Marrn i
O rard Trum tompan nuarttrlv f g per
en patle April 1 to stockholders of
rt?curd March 15
llar' M-haiffner Marx I'nmpany. quar
Orly of l' pt rpnt on preferred, pa a bio
March 31 to utoek of record March i.'0
DIVIDCNDS DECLARED
Ki trir Srora Hatter fUarterl of 1
rnr ifrit on nrpierreri and common paatia
.i.
Aetna Explosives
Am Hrlt Jlfg 2
Am Marconi .. 4',i
Am Writing Taper.. 5
Air Ueductlon 60
Canadian Car Co.... 2
Can Car & Fdy pM.. 75
Charcoal Iron 6;
Chevrolet Motors .. 180
Cramp . ?0
Curtlss Aeroplane ... It
Carwen Tool 3
Carbon Steel SO
Kmerson Phonograph. 3;
Hendee Mfg 17
I-ake Torpedo Hoat . . 2
Lehigh Coal Sales . . 0
Lima Loco 29
Maxim Munitions ... U
V V Shipbuilding . . 31
Nor Am l'ap Pulp . 37
Otis Klevator . . 60
reerless Motor 21
Toole Kng 21)
Scrlppa-Booth . 16
Standard Motors .... 3
Steel Alloys 5
Submarine 13',:
St Joseph Lead 11
Todd Shipbuilding . . . 102
Triangle "llm 'i
United Profit Sharing l'
C S Steamship 3
I'nlted Motors 42
World Film i
Wright-Martin Air .. 4
Test close
Ask (ante)
9'.
4
4'4
514
60
35
85
!:t
13
06
2
2'
5
3!
"a
.17
I'i
66
4
30
S',
B
14
12
105
9U
'4'4
.Vat Con & Tab 16,
.Vat Kn& Stpd 51 f,
Nat IT, n.of Mex
2d pf 0i
New O T&'Mex 20
N V Central . 73i
NYCARtL 2d pf 45
V T .V !! ft II. 28 'i
Xorf ci West.l03'
Nor Taciflc 92 'i
Okla r & Hef. 8',
Olrio Clas . 364
do rts . . . 2Ta
rintartc) Silver . 6i
Pac Tel A Tel. 37
41
89-S
6'a
11
23 i
62
76
30A
15U
60
&5
26
34i
5!)
25',,
68',
183
22 S
42 f.
8D.
U?a
24
62
76
30,
16'4
115', 116'4
5 Pi 51',
3
Vi
si
54
1
'
m
6T4
1
'i
',
J it
!)
29
73
45
28
103
!1 K
S'n
36 U
9U
29
73'J
45
2S'i
103
92 V.
g'i
!
i
Tan Am Pet
do pref .
Tenn n n
Ten Cas &. f
Phlla Co
Pitts & West
. do pref ,
Tierce-Arrow
Pierce Oil
Pitts Cvl
do pref
Punta A Hug
B2I1
6ft
27
8lt
6T,
27
80 'i
142H 140', 142'i
tl'i 44"ii 11
48i
34 H
35
80H
42I
17',,
46
85
49,
34'4
86
S0'
44
17 M
474
86
53
' ' itlli
Spruce 343 Have 2553
Canadian
Municipal Bonds
Hought Sold Quoted
FINCKE, BANGERT & CO.
Franklin
BOSTON'
Hunk Mllclc.
I'lillndelnhls
NtJVV VOKK
LIBERTY BONDS
BOUGHT nnd SOLD
Any Drnomlnatlons
Samuel K. Phillips & Co.
507 tllKSTNUT 8T.
Jlembers riilljdeliihlat Mock Kirlmnc
I HWa1lljl
BAKKKR8
ANU
&BOKER8
TH C1IESTXTJT 8T8- N.E.Cor.
Hambcra of PMUdelpbla aid htw
ivrs bitti cirnsBraa.
mctef&Co.
'I
c LOCAL MEAT MAnKET
i Tha following- report on tha fresh meat
trad In rplladelphla Is furnisher! by the
local livestock and meat ciIUcb of the llu-
, ve4u of Markets, Cnlteil 3lales Department
k . at Aarleullura
,'FJII:hH IIKKI' Itecelpls moderate; mar-
iM lun ana uraai , aemana ciuiet
BTRr.na Here ots modersle mnrl.1 nn.
AeJunreri at 121 to 127, demand fair
V'CiSWH Ilecelina moderate market dra
r ais fo -a cietiiaii.i.iiviic
, ,1lAI-r Jtecelpta ilahti market steady ta
Wrww at 114 to I'.'Ai rieuiand load.
- POfcK Supply modearc- market about
ev At tJ4 in Sl'7. decnalHl Itaorok-lnc.
ILMIfc.uPlv llaht: liiAfkat laJr at
fiLAB: 'r?, K?-.s.
T ,n,i ,n
MWC
V
JSMK
4l3
rsEW YOUK COFFEE MARKET
ew York, March 6 There were no
Important developments In Uie prlmarv
coffee markets over the holldavp, both
the Hlo and Santos spot market being
reported unchanged, with futures In San
tos. Irregular. 26 points lower to 25
poln's higher These conditions nat
urally failed to change sentiment either
way to an extent, and after the first
hour business wae dull.
The I'nlted States slock of Braill
coffee has reached the lowest point In
.vears. now being only 365.961 bags, bul
there are large afloats of 1.042,000 bags,
making the visible supply for the United
States 1.407.961 bagr.
Firm offers generally were unchanged
during the morning The 'local spot
market was nulet.
xesieraaya
f lose
September t l7
Hecember 13.73
March ...
Today's
open
15 no
15 AS
II 3
HI
3',
'4,
'2
4'.
riTANDARD Oil. STOCKS
Illinois 171 176
Uhlo 323 327
Prairie ripe 267 27ft
S () Cal 261 264
SON.! 674 678
HO N V 329 332
'i
4'i
268
675
330
73
191,
81
76i
92 V4
6
I.NDKFF.NDKNT Oil
Harnett Oil & Gas
(""osdexn A Co ....
K1U Ilasln
Federal ti.l ..
Inter Petrol
Houston Oil . .
Merrltt Oil
Midwest running
Met Petrol
Ohio Fuel
Sapulpa Kef
Sequov ah
A
STOCKS
Sinclair
Island
Cllenrock
p
.4
16
29H,
7,
3.
MIMS'fl STOCKS
5
8
25'4
147
4'.
18
7.
294
7
3'.
6 '4
Sfft
80
23 i
146
7i
3Ti
Pullman P.il ( 116H 116H
Jiy mi, upnng.
Ray Con Cop .
neadlng
Rep Ir AV Steel
ltoal Dutch.
Saxon Motors
Stt, S V
Seab Air L nf.
Seara Roebuck. 1 7 1 T,
Shatturk Ariz . in
Sinclair Oil
South Pacific
South II II .
do pref
Studebaker
Stutz Motors
Sun Steel
Ten Con & Chin 13
Texas k Pac. 33 '4
Texas Co ..194 'A 192
Tobacco Prod 87 864
do rts ... H 5 Si
Un B & Paper. 76, 75 i
Union Pacific. 131'. 130
do pref . .. 74 1 74 'i
United Al Stl 40 40.
United D 2d pf 95 94 ',4
United Fruit. .165', 164
United n I pf. 24A 244
I? S I Alcohol. 1164 112
U S Ind Alt? pf.lOSVj 105
U S Realty.... 31 24 H
IT S Rubber .. 83 4 80 '4
U S Steel.. . 94 4 92
do pref tH, 114'4
76,
20
82i
77
94
10',4
12!4
17
36
loo4
. 28a,
68
60i
. 61
35H
'i
'2'i
49 '4
34 'A H
36 1V6
80 K ..
44', .
17'4 - 'i
47'i H-1'4
86 tc
'4
i1
.6 '1
20 4- U
82 ',4 l'i
77 -l-l'i
Icv riose
884 884
97 V4 97 V4
99 i 99
91 91
90?; 90;
103 103
90 90
55 65
88 88
82 ',4 82 'i
81 H 81
77?4 77 H
49 49 ,
101 U 101 A
98V4 98H
964; 9H
97 '4 97 H
96 96 U
JO7'0 107'i
78 4 78 i
85H R,
78'6 78H
95 954
71 '4 71 U
79 79
73-i 73'4
78', 78.
100 1004
83 ', 81 4
90 90
71 71
47 ',4 47 'I
6. Vs 66 M
105Vi 1054
99', 99',-,
98 Vt ,98 '4
4 4 ',4 4-4 U
35 35,i
98 V4 98 4
80 80
95 T4 96 H
87 874
66'-,
11RS
12'.s
1 ,
68
58 J
48
36 i
13
31
T4
93 Ta
104
12 ',4
17
171 '4 171 ',4
1 11 i 11
fit. a: .tr.s:
!9T 100'4 14
27, 28S J-l
68 . . '
60 ',4
51
35a,
13
32 '4
194
"f
14
7
1Ti
i
-rl'4
1
6i
76
131U
114
'4
-. 1
4-lI
74 U i
40t 14
95
165V -t 1'4
zs-;
Hank of England Statement
London. March 6. Thn weekly state
ment of the Dank of Kngland show a the
following changes: Total reserves, 28,
608,000 s decrease. 11,134,000; circula
tion. f71.i92.'i0O; Increase. 767,000;
bullion, 81.261.000: decrease. iI77,000 :
other securities, 84,744,000; lHcren.ee,
1,604,000, other deposits. 128,732.000 j
Increase. 9.563,000. subtle deposits.
26.702,000; dc-crease. !2l.fl0"; ;ov em
inent securities 69.196,000; Increase.
9,000,000. The proportion of tho banlc'a
reserve to liabilities Is now 11.60 per
cent against 20.51 per cent last week,
nnd compare with 18.24 Jo- 17 31 per
cent in this week last year " The "clear
ings through the London hank, for the
Avjkl isrers, (476.260.640 ftsalnate f424.
94ft.iMO kurtrwlr nm4M.M''Ulii"
WMat laKOSsW.
Atlanta .
Big Ledge .... 'j
Butte New York .... H
Con Ariz 1
C F S & Jerome .... '
First National .... l'i
Ooldfteld Merger ... 5
C.Oldneld L'ona is
Rnldfleld Florence . . 15
(Sqldneld Kewanas . . 4
Oreen Monster 'i
Hecla Mining 4'.
Howe Sound 3 a.
Independence Lead . 2
Jerome Verdo
Jim Butler 3
Jumbo extension ... 12
MeKlnley-Darragh .- 45
Magma Copper . . .27
Mother Lode ... .30
Mines Co of America. 1-3
Nevada Hills '. .'. .. 3
Nevada Wonder "l
Nlplssing- ... 8T.
Ohio Copper . ... "4
Ray Hercules ... .2
Ban Toy . . a
Tonopan
14
lit
R
20
20
6
3T4
3
38
15
48
29.
32
: U
6
80
9
y
a
1!4
12
5
U
19
6
(
14
Extension . . 2U
United Verde ... .32
West End Con. ... 1 '4
White Caps 10
Yerlngton .....-,. 4
IIOM1R
Bethlehem 7 (notee).lOl
Cosden OH 6s. SOU
Cosden i.Cp Is 90 ty 03
Cudahy U J0H4 J02U
liussian uovi ; . . on so.
do 6 Vial. - .'.. 64 115
Houmtrn-RailaViy'S.? 99 tt'l
Todd Shlpbulldlnr .104 110.
'-, v "' " M J't
. i ".. '. ...
,3U
I'tah Copper . 69
Va-CarX'hem 5,4 ,
Wabash . 8 '4.
do nt-ef a. . . 3314.
"West .Maryland 105
West Pac . .2044
no prer . . db,
Westlngh Mfg., 44 I
Wheel & UK.. 8U
Wlilte Motors , 63
Wlllys-Overld . 274,
A nr.f 0 4 lZ
Ylll..trt r-AH ' -CI?
Worth, P &
do pref
.do pref
67 '4
tit
8.
33 tt
10 4
20 a
56 U
44
8
53 '4
26 H
i'Z
116 ,
105'4
30tt
82
94'4
1144
69 4
54 14
84
33Vn
1054
204
66 tt
s
ns'4
27H
Vi
4i
24
-f 3
2
2'4
H
2'i
4
i
n-
t
? l
.
Hlah
snno Am Cct oil 5s 88 li
147000 Anglo-Fr 5s 97,",
6000 Am For Sec 5s 99 s
2000 Am Smelt 5s '91
2000 Am T & T 5s 90,
5200ft do 6s 103'4
4000 Am Writ P 5s 90
5000 Ann Arbor 4s. 65
1000 Armour C 4 Vis 88
1000 Atchison 4s . 82'-.
1000 Bait & O 5s.. 81 'A
2000 do cv l'-,s. 77S
1000 Bkln Jl T 4S. 49
9000 Bordeaux Os.lOiy,
3000 Can i, 6s 1921 98V,
3000 do 1926 . . Of,",
7000 do 1931 . 97S
12000 Cent Leath 5s 96'4
10000 Chile Cop 7s 107'a
12000 C fi O cv 4'4s. 78-
20000 do conv 5s . S5'4
2000 Chi Rwy 6s . 78 '4
17000 Chi B &Q 4s.-. 95
,3000 Chi Mil & St P
rfd 4'3s .. 71 '4
1000 do conv 4'-s 7?
POOOCol Indus 6s.. 7S'i
5000 Col AV So 4',-s. 78s
28000Cof Ptirls 6s. loom 100
9000 lo T II r,s- ssvs
1000 Ills Sen C 5s 90
6000 Du Pont 4 'is 71
2000 Urle cv is S U 47 U
6000 do gen 4s 66 V I
35000 Fr Rep 5'4s. .105V,
2000 den Klec 6s. . 99 ',3
2000 Indiana Stl 5s. 98V4
3000 Iowa Cent 4s.. 4414
58000 Intb Met 4Hs 35,
11000 Int Mer M 6s. 98t
3000 Int Agr 5s. 80
1000 Lka Stl 5s 123. 967s
2000 dn 6h I960 87 5.
15009 Leh Val els 6s,1014 IOIVj 19IM
2000 Llg & M T 5i, 9t4 9ltt 91 4
I00O do 7 ..,.1124 112VJ H2H
13000 Ixu fc Nash 4s 86'4 85" 85J4
684000 Lib Bond 3',Js 98.90 98.62 98.80
215000 do conv 4s., 93.58 93.48 93.54
67000 do 1st Is... 93.20 94.04 94.10
1841000 do 4 ,is . .. 93.30 95.18 95.26
12000 -do 1st 4',is . 94.86 94.80' 94.82
1122000 do 2d 4 '4's .. 94.00 93.84 94.00
2989000 do 4th 4'4s 94.04 93.84 94.04
39000 Lyons ,6s lot's 101tt 101ft
45000 Marseilles 6s .101?,
2000 Mldvalo 6s . . 87
1000 Mo J'ac W I j
5s 1923. .. 33
11000 do 6s 1926.. 89'.
6000 Mo Pac gen 4s 61
6000 Mont rower 5s 91 14
8000 N -V C &H 314s 72'u
6000 do con 4b. . . 74
35000 do 6s 98
3000 N Y City 4s "66 91
1000 do 414B "60.. 96
6000 do 4lk 1963.100'i
3ftnn rin (Un 1965.101
6000'do 414s 1966 101',i 1004 100?,
1UUU OO itch uv
,1957 101 V
1000 N V Pock 4s.. 71
2000 N Y O & W 4s 69j
2000 N V Tel g 4 '4b 90
4000NYWC&H 4 lis 49
1000 Norf & W 4s. 83'J
lOOO.North Pac 4S. . 83 14
4000 Or Short U firt.ini
17000 Pa gen ct 414s 8tVv
24000 do 5s 1968.. 944
7000Pblla Co cv '22 9 Hi
3000Plercc-O 6s "24 92H
BOOORep Ir & 8 Cs. 96?,
6000 San A&A P 4s. 66
20000 Seab AL adj 5s 49
16000 sth Pac cv 4s. 83'4
22000 do cv 6a..iu;'j iu?
IOoOSo Rwy. 4s.... 66'., 64'4
1000 do 6s 94 94
1000 Third AvndJBs 28 'i 2U
3000 UtnhP&LCo 5s 9814 98',4
1000 U S Realty 6s. 68 68
3000 U S Rubber 5s 86'i 86T4
22000 US Steel s f5s.l0fli,4 10014 100
2000 Union Pnc 6s.l034 103'4 103
6000 U K or i v s I
614s 1919 ..100U IOO141 100U
23000 do 614s 1921 98U 98!, 98)
19500' .do 514s 1937.1004 100't 1004
1000 west t'.ieo us. vt ; us
1000-West Md 4s.. 61 61
4000 West Un 4'4 864 86',4
MONEY-LENDING HATES
Mill' TO BK Money on call, mixed
collateral, opened today at 4 '4 per cent
tor lending ana renewing, un an in
dustrial collateral tho opening rale was
5 per cent.
There was a larger volume of tlmo
money offered todAvthati at any time
for p. week; nil Industrial loanB .were
made at SVi'to 5si percent, with a. sub
stantial amount of, loans being con
tracted, Mixed sjipllaterals were around
6'.j per cnt. ,
Member hank acceptance bills were
quoted at 4 5-165J4U and non-member
ellglbles at i'(H 6-16. Ineligible, bills
were at fi 151,514 per Cent discount.
1'llttjADRLPIIIA Call. 6 per cent;
time, 6H Q 6 per cent. Commercial pa
per, three lo six months. GttG'5',4 pr
cent; six months. tVper'cent.
I.ON PON; Money It' quoted at 3 '4 per
cent. Discount rates, short and threo
month blls, 3 17-32 per cent.
BAR SILVER
Commercial bar silver was quoted In
New York today at M.Ol'.t per ounce,
unchanged; In London at 474 d, unchanged.
Refined Sugars Unchanged
New York, Mnrch 6. Refined bugarii
are unchanged at 9c less, 2 per cent for
cash. The demand la nulet. Raws ar
unchanged at 7.2 8e, delivered.
101 ',4 101, ",
87 S7
93
89
61
9114
72 V,
74
98H
91
96
100i
93
89 :
61 '
9114
72 1,4
74
98i
91
96
100,
ioo4 iooy,
101 !4 101 U
71 71
69V4 9'i
'.III 9U,
49 49. ,
83T4 834
831,. 83 li
101 101
94a,
91 tt
924
95
65
48T4
82 ?4
94 4
9ltt
924
95 H
65..
484
82 4
10294
66',4
28 tt
98 4
68
86
FOREIGN EXCHANGE
New York." March 6, The foreign ex
change market this morning was quiet
nnd featureless. Sixty-day sterling
hills were 4.73 tt. and ninety-day bills,
4.714, both nominal and unchanged
from yesterday's quotations.
Qilotatlonss vere:
Demand sterling 4.75i, cables
4.76 7-16.
Franc checks 5.47'4, cables 5.4G14.
Lire checkH 6.36 '4. cables 6.35.
Swiss checks 4.S8, cables 4.84.
Oullder checks 41. cables 41 tt.
Peseta checks 20.85. cables 21.
Stockholm checks 27.95. cables 28.15.
Chrisllanla checks 27. cables 27.15. '"
Copenhagen checks 25 90, cable 26.10.
Ruble currency was unchanged at
14'4.
BANK CLEARINGS
Hank rlirlrt)kn todiy romrared with cor
responding dav.a.t to jeara:
rhiia . . inn.m.iRft i.io.soi.fiOA fss.soc.707
NY.. ,',113.207, . IS. ,rill4,74R.8fil 57S..-.4I, 441
Iloslon . .M.(MI7.i74 35.743.012 33.llllll.4W
Baltimore 12.174. t,n7
1 :
Porphyry Copper Dividends Cut
New Yrk The Porphyry 'Copper
dlvdendsawere cut: Utah declared 31,50;
Chlno, 75 cents; Ray, 50 cents; Nevada,
37 cents Three months ago Utah
declared $2.50 a share; Chlno. $1; ltay,
75 cents, and Nevada. 75 cents. Divi
dends nre payable March 31 to stock of
record March 14.
Finance Co. of Fa. Pays Extra
The Finance. Company of Pennsyl
vania has declared the regular quarterly
dividend or 11.5a per snare ana an extra
dividend of one-quarter of 1 per cent on
the first preferred stock, both payable
April 1 as registered March 16.
Income Tax Primer
THE Income Tax Primer prepared
by the Bureau of "Internal Revenue
has just been issued. .
Wc have reprinted this booklet, and copies
may be obtained on request.
The Primer contains 130 pertinent ques
tions and answers regarding the Income
Tax, and will be found of assistance to the
taxpayer. ,
We shall be pleased to give you desired in
formation 'regarding the preparation of
your return, and to supply you with such
forms as have been issued.
Our Booklist on the New Revenue Law
contains the full text of the income tax, war
profits and excess profits tax, and other pro
visions of the Act, with explanatory sum
maries and examples of the application of
the law. This booklet will be sent on request.
CLAYTON F. BANKS
421 Chettnut Street, Philadelphia
Correspondent
Guaranty Trust Company
of New York
61 i
... 7&H 73 Vi 75 -4-2 M,
M. 08 66 CK --4U
A . 03(4 93 03U - -1 12
U.. 72i -72.U 72H ij
10l,
Ji
Ailit-Chilmeri Pays Back Dividend.
ew Turk,. Mflrch 6, The Allls:
Chambers Manufacturing: Company has
declared n-regular 'quarterly dlvldenct,
of.ljper'cent on the preferred and
of 1 per cent on nccqunt of accumulated
dividends. Three months ago ; of 1
per cent was declared on account of
accumulated ,cllvld'nda..i . This, leaves
3U per ceht on back dividends yet to be
paid. . .Dividends,, are payable April 15
to stock of,rc;cord4Mnrcli31.
GOVERNMENT BONDS
', . , nid Ask
ranama -coupon 2a. .1030.. .... Hi I ... .,
Fanama rtalstcred 2s. 1036,,, Of 9S'
iruma rooporf Vs. 1B3H..,,., 07 ,,
Papanvi,reltrecl'i'a.Tt08... HT saiji
Pahanu-cavpon 3a, 10SI. ,,,. ST 02
Panama rralsttrrd 3s. 1001.,. S7 BJ
I Philippine 4s. lst
lninppiDS IS, laa.i,;,,,,
Phlllpplna 4a. iM,..,..
1 H llsv eounon :. into.
O H Gov rtslsttred a, 1030
tr B aor coupon. is. iuo
fT St Caw vuH.t.,b4 a-' '
B
JtWiii
l
- i sifllBsftili'ilii nlri A ii
fr
Bankers' Banquet Saturday Nihl
The seventeenth annual banquet of the
Philadelphia Chapter American Institute
of Banking- will be. held In the Bellevue
fiiratford Hotel on Saturday evenlne,
March 8. The sptakcrs will be M. O.
Pruali. president of the American In
ternational Shipbuilding Coriwratlon ;
Owen -J. Roberts, of the Philadelphia
bar, and J. C. Thompson, president of
the American Institute of UankhiK.
Over nine hundred reservations,, the full
capacity of the Bellevue ballroom, have
been made, J
- "
Cotton Buyers and Sellers
New York, March 6. (Old style)
Hopkins and .Mitchell bid ;, Montgomery
and' Hartcorn. offered.
April (old) Slgel bid; Mitchell of
fered. May (old) Hyman. Krederlckson.
Sledenbenr, Hartcorn, Smith, Se)lar and
Bartlett bid: Kllnn, Hopkins, Olfford,
Cone, Burnett. Oeran. blgel. Brooks,
Bache and Schley offered. '
. May (new) Wachrman, Mitchell and
Newman bld.'Younr. Bartlett, Wenmin
and (Jeer. offered. t
. J-. . t rm.' .
atUjoj(r.ojifj'f!a.
W
IS YOUR OFFICE
In
M
The Liberty Building
Commercial Trust Building
Broad Street Station
Pennsylvania Building
City Hall
Widener Building''
Lincoln Building
i
If SO
you will find this Com
pany most convenient
for transacting banking
or trust business.
Wc invite you to
use our services. .
COMMERCIAL
TRUST
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