EVENING PUBLIC LEDGEK PHIIiADJBLPHIA, SATTTRDAT, MAECH 8, 191b
1C
NEWS OF THE FINANCIAL WORLD CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS-
, t
ACTIVITY AND STRENGTH MARK f New York Stocks ll K Y- BANK.MENT ll H York Bonds "ill Philadelphia Stocks I local STOCK TRADING DULL,
W
in
yj
.ACTIVITY AND STRENGTH MARK
TRADING ON NEW YORK 'CHANGE
.-',i
Movements Indicate Thai Buying Wave Is Spreading
Over the Country Steel. Marines, Baldwin, Beth
lehem "B" and Midvale Attract Attention
High Points in Todays Financial fines
New York stock market showed continued outside interest and
was active ar.d strong. Business on the Curb was active also, and many
new high records were made. Corn was inclined downward, while cot
ton was firm, l'rench exchange was slightly easier. Bank clearings
throughout the country this week were below last week, but above
corresponding period of 1918. The New York weekly bank statement
showed a.T increase in average loans and a decrease in the actual, while
average reserves dropped and actual increased.
,. Utah
danc R.um. 27
do pref 3
AJax Rubber . 76
Alaska Old M. 3i
Alaska Jun 1 .
Allls-Clialm Co 35'
AlMs-Chul C pr R8V4
Am Ar nhem.luS
no nref 99 u
f Am Beet Hug,. 78
vaiji ian s-.
Am C & V Co 03
Am Colton Oil. 451
im iTUBpiats.. in
Am Hide & u
lo pref
Am Int Corp.
Am lee .See. .
do pref . . . .
Am Linseed . .
Am Ijoi-o . . . .
Am Kindtlne;
28
62U.
75
3H
IN
34 4
88 M,
Closo
26
Net
rhie.
3
314 .
: ..
4
34;
88 Vj
102H 104
74H,
47
92 H
414
134
184
1IM-4
74 'i
4 8-S
93
45
1
!)' IS! 18i
loon mo ioo
fmii nrT4 no'i
481.4 47i 47T4
64 M CI
18 47H 48
68 H 67 6S14
ni rinciunB;. . 1 11 w, OJ' 104
Am sum Toh.,114H 113S 113
Increase in Aerage and Decreaee in
Acluat Loans Actual Reserve Higher
New York, March 8. Tho New Yolk
hnnb KfntMnont thlw wrptt ahOWH in
'crease In axerairo and decrease In
actual loans, with decrease in iiverpsm
nnd Increase In nctual reserves. Time
deposits Increase In both cases.
Details follow:
AVKIUdR
r' 86 1
el. 106
New York, March $ TI10 onward nnd upward movement of tho
Block market made further substantial progress In today's tradlns, with
many indications that a buying am Is spreading or the country
and jralnliiK force every day. TIioec concerned in tho accumulation of
stocks, whether for special purposes or us a purely speculative venture,
seemed to care little for nnyttiinR In he way of news developments or
of details of stock market operations, hut were only desirous of cre
ating or adding to long lines without much rcR.inl to price.
This was clearly shown In the case of Culled States Steel common,
which was heavily sold by Shearsou Jlamlll & Co., understood to often
handlo tho most Important Inside accounts. That llrm was also a heavy
eellcr yesterday, but in spite of tho supply from tills source tho stock
moved up to 97.
Tho marine shares wero influenced almost wholly by banking Inter
ests buying, Willi Marine preferred advancing nearly 3 points to 109tj,
followed by a reaction 1 03 . while Atlantic. tiulf and West Indies rose
2 points to 10S', and American International, controlling both proper
tics, roso Jnoio than 1 point to nboo US.
There was vigorous buying of all the steel Industries, Baldwin Loco
motlvo moving up to S7 and Hethlehem Steel "11" 2 points to above 69.
Mldvalo Steel was moro prominent In the trading than it has been for
a. Jong time, making a gain of 3 points to above 4t.
The bond market showed a strong tone, with the chief fcaturo tho
strong tone in i'ourth Liberty 4Us, which apparently aro being bought
on government ordcr.
International Metropolitan 4Us advanced to Si'J.
.DEALINGS ARE LARGE '
ON COTTON EXCHANGE
CURB ISSUES ACTIVE;
NEW RECORDS MADE
Am Steel Kdr'
Am Tel & Tel.
1 Am Wool 63 li
.Am Writ Pappf 42 'i
Anaconda 62
Assoc Dry Gds 25
Assets Tleallz'n. 3H
Atchison 93
I Atlan Blr & A. 7 V,
I Allan ( & W 1. 108
I Tlihl Lnco Co . 88 '4
1 Halto & Ohio.. 4 84
'Barrett Co 120
Hiilopllau Mln. li
Bull Steel 67
do "B" 9'4
do 8 p c pf. .1064
Brk Itap Tran 'ii
Booth Fish Co 20 i
Burns Bros . . .14)
Butte C Z Co 6-
Butterick Co . 21 i
Butte & S Con 1! .-.
I Cal Pet 27 K
do pref . ... 74
fCal Pack Co . S5H
.Can Paclllc . 10:14
Cell trill Lthr 68'n
Chandler Mot . HSI4
1 Ches & Ohio. . fi
Cht M & Kt ! 37
do pref . 70
fC n I & I tc. 24
Ctll&l' 7 pc pf 76
I Chllf Copper.. 18
Chliio C Cop. .. 34
'Col K & Iron . 41'
Col (! & Kite. 45"!
Col & South.. 26i
Cont Call O. . 81 Mi
Corn PiWluets 48 H
Crucible Steel. 65
Cuba Cane Sur 24 Vi
do pref 75
Deere Co pref. 95
Don & Illo O.. 8
Pomes Mines.. 13
IMstlilers Sec. . 01 'i
81
106
62 4
41H
CI 'i
24Vj
3
93
7'4
107 4
81
47'i
1
1. .
41
62
24H
3
93
7'S
108 'i
87,
48
11SH 119
86 V4 4
06 4-
62 4-
to. 4. 831. 021.000
tnlta t3.8r.7.315.nn0
Nt tlm li05.. I14.47S.OIIO
Clreulatlon .. an.lrtl.noo
fh in vault.. Jli3.MS.iwi
llleterv la nifm- ......
t bank. ... t:0, 070,000
Ilr9 In tttn
.nmrnle . . Ill, 257.000
lUp'rve In pint'
tutnk nl trunt
rompany dpol- ...,,.
torl ll.31tl.M0
ArerTto r-... M2.r,7.linii
Burnluii 41.asil.0fc0
l,
67
67
105
23i
20 4
144
6?i
201,4
191,
27 H
74
S3
162
K8
12f.Vi
68 N
86
69 4
24
7C
18
31
40;
45
2i
80
47
63
23
74 a,
95
8
12
60,
11
67
69
106
24 i
20
144
6H
21
19
27 a,
74
551a
16214
68
1261'j
69
37
70
24 ;
76
li
34
40
45
26
81
in "j
r,,
1
-1 2
1
.
2
1
1
2
4
;
Inrrease
J10,03,U00
20.157,000
1!, 42.000
I1,000
2,023,000
28:.1K)0
112,000
4h2AtfilA Iut1ll.-Ist irtftl
tl'rltfl MalB drpojlls flcducl"!,
00'' OOO.
Dccrcjst.
ACTOA1.
Inns 14,810,034,000
Net rtcniHii.l dp f3,'ni.1o'.,.oo')
Net time tlpolt. 1 l4.S20.fMIO
circulation .3!!v!!!.,!!
Carh In vault . J03.I12S.000
Itri-rvr In mem- .....
her banks . . 633,379,000
IHnrie In lalo
bank n4 trun: ..,
rnmpanli-a til. 499,000
luwrv In rtat
banks and trust
TohSU'" .T)".1; 12.2911.000
y.mtresate rrerv .JW.lJS.oOO
Surriu .. 40.MI.oiO
345.000
MS.nno
.',22S,330
1219..
147,600,000
n.H4.000
1.32.(iO
17.1,000
l.llnl.OOl)
7.332,000
311,000
fip.0.000
R,n.-,3.ooo
1,070.010
0,7.'12.nlU
nu -.,-.....,--. . .,.,
f Tnlorl HlalM drpos t dvducira. --'
03".O00.
, JSpoHe Inlud"!.
1 ltcr"dB.
OLTSinn HANK STATHMI'S'T
l,iu i..
Hllh Ixiw Clo
M49000Am Agr d Cs.104 103 104
73000 Anglo-Fr 5s . 97A 97 97
3000 Am Kor Sec 5s 99) 99 99t
10000 Am Smelt 6s 91 i 91 4 91 i
1000AmTT 5s.. 91 91 91
46000 do 6s 103 103 103
65
87
82
81
76
77
81
89
84
"1ft
96
97
78
96
864
98
96
73
87
78
72
II H
4 84
65
88
82
81
76
77
82
89
84
101
98
96
97
78 ,
96
85
98
95
73
87
78
48
49
liana liivettment
lioltt ,.
I'urr, ncy b a 11 k
tinln
rpnlla KplTal
1 lt,'ri Hank of
N V
Tlpprthltfl
Il'ser on dr-
Ioit
tsRfi.iso.snn
S..-103.OO
21 242.100
ln
J1D.7OI.100
212.200
CI12.3CMI
-rt
4-
fil.54.1 400
C38.9'.IS 0O0
102.026,000
Prrcntaan of KITH -O.I
TIICST COMPANIKH
tian. lnVBturts.Ji.OiiK.loo.no.)
!oM J.ViJ.VJ u!
I'UT IH'y UK linlPf 1y.0j-.0vv
R, 1(18.000
lll.200.OUO
C.651.000
.0
tll.T4a.3nO
Itl.nuo
t,6,S"0
65S.4- 1T4 lepolts rrileral
i5 j. fi Iteaervn liank of ,
rj t ,Ji New Vork 2'
74 1 t)poalt 2. .
96
8
1-Ji
bU
02,312.000
i4ll.Mi7.POO
a3,167,t!O0
I Ilev. on dpoalt
rrrrrmacn 01 to- .
pcrH '
HTAT1! 11ANTIS AND Tm r
ft.ioa.floo
11, no, oo
b07,00
.1
OMPAM17S
1000 Ann Arbor 4s. 66
8000 Armour C 4s 88
35000 Atchison 4s . 82
1000 Bait A Ohio 5s si
10000 do 4a 76
3000 do cv 4s.. 78
16000 Beth Stl in '36 82
24000 do rfd 5s... 89
2000 Bkn II Tr 7s. 84
2000 Bordeaux 6s .101,
1000 Can llvt 6s '21 98
1UVU OO 'ti 10i4
2000 do '31 97
2000 C I- C & St t,
4s 78
2 1000 Central Mhr 5s 96
36000 C A O cv 5s. 86
1000 Chi & N 6s '87 98
69000 Chi B & Q 4s. 96
8000 Col Ind 6s... 73
3000 Col & So 4s.. 87
2000 do 41.4s 78
1000 City Paris 6s. 100 100A lOOf
1000 Ills Seo Cp 6s 90 90 90
iuuu iu c row 414s 72
5000 Krle cv 4s Sr B 4 8
7000 do Sr r 49 M
2000 FY Hep 5S.106, 105ft 106ft
1 'i(io ill Meet 14. si, as no
74000 Int Met 4s.. 38 37 37
7000 do ref 6s .. 72 72 72
10000 Inter M M 6s 99 99 99
25000 Inter Art 5s.. 80 80 80
28000 I.eh V rets 6s. 101 101 lo'
22000 1,1k & M T 7s. 112 112 112
1000 1.erillard 7s .nz
324O0OLIb Bond 3s 98.64
542000 do conv 4s.. 93.76
184000 do 1st 4s.... 94.50
857000 dt 4s . .. 95.40
22000 do 1st 4s. 94.62
961000 do 2d 4 Vi. 94.08
1653000 do 4th 4s. 94.10
16000 Mldvnle 6s . . . 86
24000 Mo P.ic gen 4s 61
innoXYC&II eon 4s 74
6A0O do Cs 98
1000 N Y City 41,4s
1904 9S
3000 do 4K 1960. 96
2000 N Y Ilwy 4s.. 42
21000 do 5s 13
2001 NYTel gen4s 89
100ONYWC&B 4s 49
10000 Nor Pac 4s .. 83
14000 Nor Pan 3s. 69
14000 Penna os "68 95
5000 Pierce O 6s '24 93
10000 Sinclair Oil 7s 96
3000.SIM M & So 4s 80
1000 Sea A 1, adj 5a 48
38000 So Pac cv 4s 83
46O0O So Pac cv 5s 104
112 112
98.52 98.52
93.62 93.76
94.40 94.50
95.28 95.34
94.60 94.62
93.98 94.02
94.00 91.08
86 86
60 61
74 74
98 98
96 96
96 96
42 42
13 13
89 89
49 49
83 83
68 68
94 94
92 93
96 96
80 80
48 48
83 83
103 103
1 Philadelphia Stocks
Net
JtUh Tw Cr. rhue.
10 Am Oas.. 65 66 65 4-2
100 Am II & I, 20 20 20 --
210 Bald I,oc. 86 8 86 --2
345 Brill J O 39 38 39 4-1
10 Cuba C S 21 24 24 4-1
61 Klec Stor. 60 69 59 ,.
6 11 Asp pf.lOO 100 100
900LkSupC20 19 20
46Leh Nav. 71 71 71 ..
330 I.eh Vol., 65 65 65
110 Midvale.. 44 44 44 1
100 Nor Cent. 71 71 71
262 Penna im 44 44 44
lOPhlla Co
cum pf. 35 35 35 ..
185PhllaKleo 25 25 26 ..
160PIlTto25 25 25 -
100 So nwy.. 29 29 29
25 Ton Bel.. 3 3 3
4 Un Tract 38 38 38 ..
108 U Ol... 71 71 71
650 U S Steel 97 95 97 1
Net
Clc.se chga.
86
70
Total ala, SMff ahares. compared with
577S aharra yeatentay: thta week, 3S,35
hares; last week, 29,416 shares.
BONDS
., , . Hllh Low
8100 Am Oas &
Eleo 6s. 86 86
600 El & Peo
Tr 4s.. 70 70
lOOOKqult III
Can 6s. 101 101 101
4000 Interstato
nwys 4s 40 40 40
2000 Leh Val
Coal 6s.l01 101 101 ..
4000 Lib Bonds
4th4s94.08 94.08 04,08 .08
6000 do 3d
48.... 95.36 9C.3C 95.3G .08
1500 Phlla Kleo
1st 6s.. 93 93 93
Total al. J IK. 100. compared with 12,
200 rterday: this week, J2U.B0O: last
rtk, 323,300.
Local Bid and Asked
WITH MOST ISSUES ADVANCING
Today Yesterday
Bid Akd Jlld Aaked
Amrlran Stores... 2rt 29 2fl 20
llaldwln 87 S HA MU
Ilrlll J O 38 an 37 hhQ
Huff A fulfil 70 .. 70
do pref Ml .. f,o
Bleetrlo mora ... r.0 r.OV r0 60
Oeneral isphalt... 07 117 lieu 7V1
dn pref J00 102 100 101
Keystone Tolo O'l .. U
do pref 47 SO 47 f0
I,aka Superior Corp. 20 20 20 -jo'i
Irf'hlah Nav 70 7IU 70 7HI
t,hlh Valley 65 8,T,4 M 5.1
Lehlth Valley Tr 14 ..
do pref 2.1 24 2.1
!nnrlvanla 44 4ti 44 44-
Broader Demand for the New
Coutraets Close Fs
Vcrv Stcadv
,X)TTON BELT 1VKATIIBR rotlITIONS
New York Marc, . -Th foIlowlnB lni
Iratiirea were iteonb'd tlile- niornlne In
the cotton belt Oklahoma Hty. 30.
Nashilll. In, Knoxvlll. Port Smith nnd
Shroveport 42 I.IU1 l!ii-k. 4(',, Wllmlns
fon anil Memplil. 4S. Tnmpj, Aucuta,
Vlckbure; and lorpua f'hrlitl. ."2, Mncon.
Chnrltaton nnd Savannah, 10 .Tnrknn
vllle, Jtntgomrv nnd Atlanta. 02; t'en
aeols. 64, and San Antnnlo, o Thre
was ,02 Inch of precipitation at Nashville.
(.04 at Jacksonville. .00 at ThomaavllM
and Memphis. 12 at Corpus ChrHtl and
rattle Hock. 30 at fhrciepnrt. 42 at Sa
annah, .40 at Port Smith and Vlckbur(r,
1.12 at Oklahoma City nnd 1 72 at Tampa.
New Y'ork. March S. Additional
HlrciiRth was shown In the cotton mar
ket today anil deallncs were larRO.
There was a. broader demand from pub
lic services for the new contracts, mm
liquidation of old contracts and trans
ferring from old to new contracts were
Quito extensive.
"""""Wiro houses were well supplied with
buying orders for the new contract.
It was taid that the advance was
leading southern holders of spot to
tighten up and many expressed the opin
ion that offerliiRs of actual uoiild re
main light until the south lias ns.iurnl
ittelf as to just what cotton was worth
under tho new contract.
The close was ery steady at a net
advance of 52 to 72 points on old and of
35 to 60 points on new contracts.
Yesterday's
cln ftpfn Blah Lot Last
March.. . . 22.no us.iin 23 mi 23 on 2.1,1,1
May ... 2I .". 21. 00 ;-' 1.1 2l.no 22 40
-. in -- .o - rx r.o i-j 7..
21 00 21.1.1 21 7.1 21.1.1 21.00
21 41 21 HI 21 hi 21 11 21 Ml
Pi 71 19 7.1 20.3S 19.7.1 20..10
20 0.1 so 11 jo .! I'o. 1.1 jo mi
in .in in to ;n i tn 70 :n 12
. Id no lliv: 2II.2S 13 20 2.1
111 4.1
'HI2U 19. Ml 19 93 19 Ml 19.33
Outside Market Moves in
Unison With Stock Exchange. '
IHiyinC IS Vigorous (It Nor Ore Mil 40
Creene-t on top 43
flutf States Stl 55
New York. March 8. Trading on the I Jt 'JPpref .'.' 61
Curb moicd In unlon with the bullish Inspiration Cop 18
intb.cons 1 orp n
do prer
Krln IT 171,1 1 , "n r H -" i"-i " "" " - "" . ".V .. - ,..n 200U SOUII1 11 13 .. .. ? ;? - phlla Co .1.1 3SI S.I SO
do 1st pref.. 30 30 30 4- l-mns Inveatment . '";,', iVn linn ini 9000 do 6s ...... 94 93 94 do .1 per c nt Pf. . 2S 2s
.;en"V'rn,co- Ift Iti t J ' VSri,."!': w- :HI!B ?? 52 : tt : U!? 122? 3;p,a'h.ie,mot::8ar & -k 1
(leil P.leo Co. .155 155 155H -e I -4 'Total dopoMtS . . . ". ." " - , '"' . " """ -"?; ,Sn7f .JX' ,:' ' Tonopah Mln B 3A S 3A
Oen Motors .167 156 167 4-liiNct depolia . . . 714. ";V.l i 1. 'J'M ,, 40000 U S Stl B f 5s. 100 100 100 t;nin Traction 3S 30 3a 3ti
curft i: SS IU SS-- : ,. 1V n. rM:AIIINi-c ', "-'Sift g.. XeStrr..::::h n s a?3
r... . ,u r., 01 04 04 li CA1V TV Tl.Wk. (iLKAKliNOo 20000 do 1921 .... 98t 98 98 ,,. ,!.., t. .- Hli e .':7lt so
393;
42
65
99
60
47
I operations on the stock exchange with
Vigorous btllnir In nil the itstlallv nflive ' Int TI f fneul.1I9
Hit .iier .Marine -a
20
119
25
do pief . . 109 107
Internal paper 4 8 4
do pref hta . . 75 71
Int N'icltel .... 26 26
Jewel Tea 43 39
Kansas city o 19 iv'i
Kelly SprinKfd..l2I 119 119
It-sues and with many of these stocks
malting new high records, l.lbby, Mc
Neil & l.lbby was a prominent feature,
advancing to the new high of 26.
Submarine Boat was In urgent de
mand, selling at 16, the highest price ' Kennccott Cop. 31
touched In a long period. National Ice I hlKh Valley' 65
sold as high as 63; but later reacted Leo Hub & T.. 26
to ci 5. I Mar UocU 75
10 6" Max Motor. .. 36
There was large trading in Phillip do 1st pref . 61
Morris, which sold at 11 to 10. Mdo f,dcp,r?,ftri ?,?,;
Keystone Tire sold at 7l'i to 71. . Mex Petrol. ... 184
2:1 '
46
12
10
24
53
76
30
17
40
43
56
99
61
47
.!;'
1 To
25
108
48
75
26
41
19'!
4-
H Total for Week 13.2 l'er Cent Greater
4-1 '-i
-rl
1
in
t Vfi trim vi iwuii j '1 " ..
426.964. aKalHNt J7.290.5H.362 last weel.,
nnd JC. 065.982. 175 this week last year.
or 11 gain of 13.2 per cent. Philadel
phia's total was $316,634,271, ugaliiht
t,a? fiO' nflfi the corresponding week 111
1918,
'i
- 1
-
4-1
Than Same Week Lat Years
Total bank clearings of all the clear
ng houses of the United States for the
leek ended today have been J6,8bb-
39000 do 1937 100 100 100
3000Va. 4 arcn bs.muvj i"va inu
2000 Va Tlwys 5s.. 90 90 90
1000 W Union 5s.. 91 94 91
Total Kale. I6..14S.O00,
lant week. I.17.1IS.I.IHIH.
compared
SO HIS. 000 eierday; this week, 162,71
. 1 ... ,. - ,ic-. f,nn
With
4,000;
UAIt SILVER
Commercial bar silver was quoted in
New York today at 81.01 an ounce,
unchanged; In London at 17d, unchanged.
Gains Are Generally Small, However, and Business At
tracts Little Interest :Lakc Superior Most Active.
Kails Show Firmness
Stock trading was slow and transactions attracted little Interest today
on the Philadelphia exchange. The market tone remained firm, however, but
changes were generally confined to fractions.
J. O. Brill, which wan dull yesterday, although it showed unusual
activity and strength in the previous session, did not do much, but closed
up 1 point. Electric Storage Battery ended unchanged on a trifling turnover,
General Asphalt preferred was steady. Philadelphia Company cumulative
preferred came out at Its last sale price, while Philadelphia Etcctrio closed
at tho last previous level and United Gas Improvement moved up .
Lako Superior Corporation was more active than nny other strictly,
local Issue, but It showed no special momentum and receded fractionally
during tho first hour, but closed up .
Ralls were only dealt In on a moderate scale, but were generally
inclined upward, due to the advances in New York, becauso of announcement
that tho government would receive banking support in financing' them,
thereby assuring a brighter outlook than many, thought was Indicated when
Congress adjourned without acting on legislation placing funds at the dis
posal of the director general for tho uso of the carriers. Pennsylvania
was up a little and Lehigh Valley and Southern each advanced , but the
former closed lower. Northern Central reacted , but was slow.
United States Steel common continued strong, but did not develop much
activity.
Bonds weref firm, with business In that department limited.
Officials of railroads operating eastward from Chicago and St. Louis
report a fairly well-balanced traffic of a more diversified nature than for
fcome tlmo past. Business In industrial sections continues on a halting
basis, because of tho many uncertainties which cannot be cleared up
until tho International Peace Conference is concluded or tiie definite stand
which will bo taken is understood.
Tho political situation In this country also has a disturbing effect upon
not only railroads but larger Industrial interprlses because of tho antag
onism which is manifest against tho administration In some circles.
Officials of southern roads say that tho last week has brought no im
portant change in traffic conditions, the volume of which is about 18 to 20
per cent under a year ago on general business.
LOCAL MINING STOCKS
TONOPAll STOCKS
Jim nutler .,
MacNamara.
Midway
Mllpah Ext . .
Montana
North Star ..
Kescue Kula
West End ..
aOLDl'IELD STOCKS
Atlrnta.
niue null
Ilnoth
CrarVerJack
D'amondftcld 11 n
Palay
Kennnas
nm
Spearhead
Sllvtr I'lck
MISCELLANEOUS
Jlld AKd
.an ,ss
.47 .10
.32 .3.1
,0 .07
.17 .20
.ns .on
.08 .10
l't 1
:ks "
.0.1 .07
.01 .0.1
.15 .17
.09 .10
.01 .0.1
.03 .03
.on .ns
,nt .03
.17 .20
.00 .09
Arls United ...
Nevada Wonder
Tecopa Mln
.30
'.14
NEW YORK COFFEE MARKET
New York, March 8. The market for
coffee futures opened at an advance of
4 to 5 points with Walt street and trade
interests taking the buying side.
Open
May .... 1...10
July 14. 5N
September 14.15
Uember. 13.94
High Low
14.BO
14.2.1
13.11.1
14.00
14.2.1
13.95
Close
1.1.23
14.58
14.2.1
13.93
Test.
closo
15.30
14.54
14,17
13.89
GOVERNMENT BONDS
Bid
Panama coupon 2a, 1030 n7
Panama reentered 2. 1936... 97
Panama coupon 2a. 11138 H7
Panama registered 2a. 1938... 97
Panama coupon 3a. Itifil 87
Panama registered 3s. 1961... 87
Phlllpplno 4. 1B.H no
Philippine 4s. 19.1.1 tin
Phlllpplno 4s. 1930 90
tl S Oov coupon 2. 19.10...,, J17
IT 8 Clov reentered 2a. 1130... H7
17 R (lov coupon 3s. 1040 811
U S (lor reflstfired 3s. 1048... 89
Ask
98
98
92
B2
9B
nn
9B
98
1 PR
02
-31
United Motors was traded in at 42. I J!!2mli.CV-iiP
Midvale Steel.
Lniteu .states Steamship was steady. Minn&Stl, new
with sales at 3 to 3. Aetna told at JJ" K & T'
9. and Wrlght-Martln at 4 and 4. ' Missouri Pac .
Tho feature of the oil group was the 1 ,, ,im ,, ' "
continued buying of Sinclair Gulf, which Vat Acme
sold at 31 to Jl. Colen was steady, ' Vat Ton & ( . .
felling at 7. Ixme Star Gaa sold lit 1 Nat Knam & S 51
210. NHItofM2dpf 9
Golden Gate was the moM active of ' ."' fon Cop. . 16
the mining stocks, with sales at 3 ' .? , . ? 2?
and 3. HerJa sold at 4. , Y CM & P 27'
do 2d pref. . . 41 is
V Y Dock 20
IMIl'STKIALS
July .. .
October .
December .
January .
Old. tNew
II 1. 1
P
3
4
50
35
2S
76
t"Ti
I Aetna Explosives . . .
Amer-Brltish Mfg . .
Am Marconi
, Amer Writing Paper
Air Reduction
Ilrlll
, Canadian Car Co . . .
'Can Car & Kdy pf. .
I Charcoal Iron
I I'minp s7
Cotton Ru)ers anJ Sellers ! canVeu Too? .T ." .' !
New York, March 8. May (new) I Carbon .Steel '."..'..'. On
Brooks, Slack, Ilosenberg, Brtlctt and Chevrolet ISO
llyman bid, Newmun. Hopkins and Cone Ilmersoii Phonograph. 3
offered. Ilenden Mfg 17
juty tnewi j.eiu. mtooks. iraves, L.aie torpedo Boat
Allen, Hopkins and P,nsenberg bid; Mc- ' Lehigh Col -'ales.
fcnany, oung. Schley, Newman and Mc- 1 Lima Lorn
S
4
"
6
60
39
.15
85
7
92
V
n
93
'i
36
:i
Fadden offered.
October (new) Mitchell. Abraham.
Montgomery. Glover. Hanemann and
Geer bid, Flinn. Young, Gifford and
Vleck offered
October (old)--Barlleti and .lay bid;
McEnatty, Grunthal, II Hari.'orn,
IVachsman, Newman and Geer offered.
LIVESTOCK QUOTATIONS
Maxim .Munitions
N Y Shipbuilding. . .
Nor Amer Pap Pulp.
Otis Klevator
Perries Motor
Poole. Kng
Scripps-Booth
Standard Motors . .
Steel AUo.s
Submarine
I St Joseph Lead
Chlcaco. March s HOOS Hecelpte 7000 . Todd Shipbuilding
Z1T.?1 .Vr::';.-"V. ., .. '.iv'tiV-An inangie film.
hulk. II SIR
v.n IK V7t. me.
dlum and llsht butchers spf 7.11 IS no. Iluht.
VOOd In rhulce. llR2.!fllfc.l beaw pact,
Inr. 117 7501s. 1.1. medium and mixed pck
Inr. 818.2.1rl,7S Ihrowoan. I17ST 17.7.1.
pica. J1H.2.1S 17 7.1
CATTLK Rectiun toon hsd Compjre.1
with week aco, Rood and , hol'-e beef steers
and butchers cattle stead oilier unevenly
2.V3 to 50c lower rannera ,10c lower destra
plo feeders steads 10 strong llpht stocKers.
35e lower, cales 50c 10 73c hither
SHEEP necelpls 1OO0 head Compared
ltb, week aco mostly 5Qe to 73c huher.
PUUbnrth. March 8 HOGS Receipt..
lOOO head. Market 4ne hither HeaMes and
naayy yorkers. sm 411VH1 an njnt joruert, 1
$1TTS1S.10 piss til Litis
SHEEP AND LAMIIS--ttecelpts 200 head
fltesdr- lop shep, u 5Q, top lambs,
119.50.
CALVES neceipls 2.1 bcud lop. l.
ft. Tonls. March HdOK rtereipis.
fiOOO head Hlzher LUrhli Jt .inn 1 H.i,
pls. 113.506 t7 Ml butchers JI8.40S1SSO.
ood bes'. $18 71S IS tin
CATTLE Receipts 700 head Sleldv.
7allo steers. Stl .me? is 10 heifer Jn r.o
18, cos. I2S 13.111. atcckers and feed
re. llnW13.SU. Cdhes 77 7.118 60
fiHEEP Ttcelrts Sun head Sleadv,
.Imb, 11S.50&18.7.1 ewes. 110 50611 2.1,
Eh nofTalo. N. Y.i 51arch 8 CATTLE -r.tcelpts.
ioo head Stead.? Call's Re
eeipts, 100 hesd Hue lower, 19 21. Do.
IKSRR Receipts 1.1IIO heart Stmnr
H-y mUed atyl workers $20 lirht sork
r. JI0.2.1WI11..10, pits, 41(iZl9.23. throw.
ula. lvj 17. stats. 8121713 .10.
R1IKKP AND lMBH- ltlpls. S00 head.
, l,amb. 2.1c hither Lambs. $124720, sear
(''IIms. $11817 50, others unchanged,
Kutaaa tUr. March U0O3 Receipt..
;,, SOU head, Sleadv. lleatv $17 50SJ1H 2.1.
aijOjplta. 112810.
CATTLE Receipts. .100 head. Ready.
Prims steers tlstjin, .nutbern steere.
nominal. I7C13. cows, IS KOJr 14.50. heir
era. P..10rt4 50 calves. 110914.
'V SHEEP Receipts. .100 head Steady.
-' Lusbs. 11R.7581D. earllnts. I1iei7 M;
VMiin, ii j oub ii.w, en, ii
fnltcd Profit Sharing
i n steamstup . .
1'nlted Motors
World's Pllm
Wright-Martin Air
.STANDARD OIL
Illinois 170 175
Ohio 325 2JS
Prairie Pipe 265 270
S O Cal 2M 265
S O N J 675 78
S O N Y 320 332
irs rin"i -- i. -. . - .. .. . 7
Ak (.ilel N Y N II : ".J
9'Norf .- west..iu"i
i North Pacific. Vi
Okla P & lief.
3 , Ohio Oas
i do rts ... .
Ontario Silver.
'Pacific Mail...
; Pao Tel & Tel
I do pref
I Pcnn It It . . .
I'CO UdS tC 10.
Per Marqu pr in
Philadelphia Co 36
Pitts & West . 381
Plerce-Ajrov
do pref . .
Pierce Oil .
Pitts Coal . .
do pref . .
Pre? vd S C .
Pullman P C
rty Steel Spg.
. nay uon i-op.
rtendlnc . . .
I do 1st pref- 38
Hep I & Steel .81
I do pref . . .102
P.oyal Dutch. . 93
Saxon Motors. 10
St L, S F.. .. 12
I do pref .... '-
i St t Sth pr. . 41
I Sears-nbck . .172
, Shattuck Ariz . 10
Kloss-Sh fcl&Ir B3
, Sinclair Oil 36
' Southern Pac. .103
Southern It It. 29
Studebaker .. 61
Stutz Motors . 51
Sim Steel . . 36
Stromberg Carb 39
2 2
80 85
26 31
.
34 37
3 4 ..
60 5
23 21
20 to
15 30
5 2 ,s,i
IK 16
12 13 ..
102 105
....
' 1 2
3 :t 2
4V' 12 52
8
38
3
33
83
14
50
. 44
.104
. 17
18
, 86
. 68
.117
. 76
. 19
8t
268
260
330
IMir.Pr.NIIIlNT OIL SiTOfKB
ooth Omsba, March 8
-ri.K--R-celDta. 300 head.
IEE1" Receipts, none.
isen
0 13.
HOGS Receipts,
;'j, Heftned Sugars Unchanged
. Ynelf. March 8. -rteflnert illnrl
alia unchanged at 9c. less Z per cent for
Stjh. Raws are unchanced at 7.28c.
4PiVred.
Try to Save Wreeled Crew
' Xwfolk. Vn., Starch 8, Tho Amerl
sjHt'.tamslilp Kllzabetli was reportod
AMtiiiil last night off Wimble Shoals,
H:C, Vith five feet of water In her
JwM nnd filling rapidly The crew was
Masarnal sHUI auuru vessel, pm a
k ' -1 .... t.n.4 KaM wlart ..M m
I tnHfJT..wu WCII ItMW M4I KJ1U
HTfoiK were tiu to reach
, at rUck
A
6
-'
21
78
21
153
1
16
7
31
Barnett Oil & Gas.
Cosden & Co
Hilt Basin
Federal Oil
Inter Petrol. .
Houston Oil
Merrltt Oil
Midi! est Refining..
Met Petrol
Ohio Puel
Rapulpa Hef
sequojah
Sinclair
Irland
Glenrock
MINI NO HTOCRS
Atlanta 4
Big Ledgn
Buttn New York . .
Con Arizona 1
c r s fc Jerome . .
Firtt National 1
Goldneld Merger
GoldMcld Cons . ... 15
Goldneld Horence .. 17
Goldfield Kewanas ... 4
Green Monster ...
Hecla Mining ... 4
Hows Sound . . . . 3
Independence Lead "
Jerome- Verde ...
Jim Butler 34
Jumbo Extension ... 12
McKlnley Darragh . . 45
Magma Copper . . 27
Mines Co of America 1-3!
NeAada Hills 3
Nevada Wonder ... 70
Nlpi.slnr 8
Ohkf Copper
Hay Hercules 2
San Toy 7
Tonopan Extension.. 2
United Verde 31
West End Con 1
White Caps 10
Yerlngton 4
BONDS
Bethlehem 7s (notes), 101
Ccsden Oil 6s 8.0
Cosden & Co (s ... 80
Cudahy 7s ... .101
Russian Golt 6M ., 51
do 6s . . -... 1
.Southern Hallway Cs. J9
Sinclair Oil (a ..... II
Todd Shipbuilder Is, 101
7
6
:
21
80
21
15.1
18
7
31 ?
7
1
79
24
163
3
7
Tenn CopiCh. 13
Texas & Pacific 33
Texas Comp. . . 193
Third Av 7iU. 131
Tobacco Prod . 88
do pref 100
do rts . . 7
Transue Wll . 38
Union Pacific .131
fil All,.,. Sice1 4211
Un! Cigar Stra.136 134 131
Uillednrug.. 9 J 99 99
ao so i'i ..j-ii .'"- .'-.
30
I!''
55
25
75
36
61
26
69
183
23
43
12
10
21
53
76
30
16
51
i
16
32
4 4
20
32
104
93
.5-?
37
3
6
33
27
82
44
50
40
35
37
11
10l
17
48
86
'.7
117
76
19
81
38
79
102
93
10
12
25
41
171
10
01
36
102
29
59
GO
35
3o
13
32
193
15
87
100
6
38
130
41
31
Details follow.
tnl! 151S P.'.
V. York . 13, 1 si,3i;n..i02 J2.e.B:i..iso.avn . n;.
26
75
36
JjlVi
t9
183
231,
46
12
10
24
53
76
30
16
61
9
16
32
IO',4
4 4
20
34
104
93
8
38
6
33
2 1
S3
41
50
40
35
37
41
104
17
48
86
68
117
76
19
81
38
81
io:
93
10
12
25
4t
172
10
53
36
103
29
61
51
36
39i
13l
32
193
15
87 Vi
100
6
38".
130
- 4
4-
1
1-
1
3
-t-1
-'-
-t-
1
... 14
'
-rl
-
1
ChieaffO.
rnua... .
Boston. .
lCin. City
St Iiuls.
San lan.
lMttsah..
Detroit. ..
Kaltlmor
N. Orleans
11
70.047
310,034.271
2.17.1III2..VHI
177.7til.27S
120. .1111. 303
0H.71.RS.l
loS.oeo.2!ir.
IIS.3I5..177
II7.247.1SH
48 102,232
r.OS.KIR.24l 11. t
29T,SIIS.tll"11B I
llil.JOlljno 'JS.I
200.711.74011 9
15,024,707 S I
SI,17,S.12 4 17.3
,iii.ti4s.s:,a4 sn 7
39,79.tlt -7I.3
48.21H.H10 Sti.3
54.7O0.SO.1 tt .1
daya".ll.010,B49.383 $1,271,401,12013.0
"'.I'da"' 635.01 1.203 870,162.473-1.7
Total sll
cities, n
daia ...t.l,70.1,D03,5U3 $.1,111,500,59312.2
1 day. .11. 100.402.371 $924,412,580 111.3
Total all
i Sfil'i? .fr$i).sn.42.l.30 J8.nr,r,,9S2,t75 l3 2
2
FEDERAL BANK REPORT
Dig Increase in Surplus, Due lo Amend'
ment to Reserve Act
A feature of the weekly statement
of the Philadelphia Federal Reserve
Bank was a surplus reported at J2.608,
343 or juit double what it was last
week. This Increase followed pabsago
of an amendment to the Federal lie
nor! e act. which permit reserve banks
to retain as surplus their net earnings,
including those for tho year ended De
cember 31, 1918. up to 100 per cent of
their subscribed capital and 10 per cent
thereafter, ""
The lncrraso of 51,304.171 had been
carried as a reserve for United States
Iranclilse lax siiic December 31 pend
ing action 011 the amendment.
The wtckly statement shows an In
crease In gold reserves from $129,448,636
in 1 34.6C1 .021. and In discounts se
cured bv government war obligations
from $176,389,708 to $178,463,043.
The ratio of total reserves to com-
1 blued net deposit and reserve note lia.
hllitv was 42.6 per cent, compared with
11.0 per vcni 1110 witrn ucjuic,
MONEY-LENDING BATES
rilll.APKI.PItIA Call. 5 per cent ;
nine es. Mil ne r cent. Commercial pa-
per, three to six months. 6U9CV& per
' 1 cent; six months, s per cent.
4 I'i
1
LONDON Money Is quoted at
per cent. Discount rates, short
three-month hills, 3 17-32 per cent.
2
and
B
ft
I'i
6
20
21
6
4
4
3
"
14
48
29
t"
go
9
5
6
101
85
85
102
60
66
a
no
4
36
11
2d
1; s c I P A !
U S Ind Alco .121
U H Realty .. 31
U S Rubber . . 83
do 1st pref. 112
U X Smelt & R 49
U S Steel 97
do pref 114
Utah Copoer . 7J
Utah Sec Corp
Va-Car Chem.
Wabafch , ...
do pref A .
do pref n .
West Md ...
West Pac
rt nref
Wstghoute Mfg 4u
Wheel & L, n . 8
White Motors.
Wlllys-Overld.
Wilson Co . . .
Wthgtn P & M
do pref A . .
do pref B . .
20
15
58
8
34
nq
10
21
5T
54
27
77
67
93
72
19
12"
33
82.
112
48
95
114
70
15
56
8
34
10
21
57
45
54
27
76
66
93
72
20
120
33
83
112
49
97
114
72
15
68
34'
10
21
57
45
8
54
27
77
66
93
72
r
4
4-
1
4-2
1
4i
. ;
1
2
2
I OREIGN EXCHANGE
New York, March 8. The feature of
the foreign exchange market this luorn-
ilng as the weakness In French checks,
1 which declined to 5.48.
! Quotations were:
Den land sterling 4.75. cables 4 76ft
I Pranc checks 6.47, cables 5.49.
, Swiss checks 4.85. cables 4 81
1 Guilder checks 41ft, cables 41 . less
' "Stockholm checks 28.00, cables 28.20.
1 Chrlatlanla checks 27.00. cables 27.20.
Copenhagen checks 25.90, cables 26.10.
PrtetaB checks 20.85, cables 20.90.
Lire checks fi.36, cables 6.3D.
4 1
ft
tl
I
'2
'2
31
ll
1 Total tales. fiHt.sOO share, compared lth
1.01S.500 tharea jesterday: this eeK, 4,.
S31,e0'l sli. res; last week, 1. 3111,000 shares.
DIVIDENDS DECLARED
Hood Rubber Company, monthly of 41 on
common paabU March 15 tu stock of rec
ord March 10,
Msnhattan Shirt Comivany, quarterly of
11.75 on preferred, payable April 1 to ttock
of record March IS.
American Window Glass Machinery Com
pany, quarieriy oi per rem on preierrea.
payable April 1 to bolder of record March 21,
Owens Bottle Machine Company, quarterly
of $1,75 on vref.rred and 75 eentt on com
mon, paabl April 1 to stock of rscord
March 22.
People's National Kirs Insurance Com
pany, quarterly of 1 per cent, payable
April 1 to stock of record March 20.
C.lirnvnla Tetroleum. ouarterlv of 141
pr cent on preferred In cash and $2 on ac
count of accumlalea dividends In Ubsrtr
Bonds. Both art payable April 1 to stock
of record Utrch 17, ir.
HANK CLEARINGS
Bank clrarints today compared with cor
re.po.dlrt .Uv last l mm ....
Phlla .. $.14,70.1.542 t.l.17.101 $51,7111.123
N. York 6S.1.1I2.607 072.070.158
Boston. 42.3SI.U6S JII.7IO.IS3 33,523,112
Financial Briefs
$7,410,000
New York Central Railroad
Equipment Trust of 1917 Certificates
4 '
January 1 and July 1
Maturing $570,000 each January 1 from 1920 to 1932, inclusive.
Authorized
Mutured or cancelled $2,666,000
Issuable, at not exceeding 80 of cost of new equipment. . 2,808,000
Outstanding, including these certificates $14,521,000
The oustanding certificates mature $1,117,000 each January 1 from 1920 to 1932, inclusive.
Denominations: Coupon, $1000; registerable as to principal.
Registered, $1000, $5000, $10,000 and $50,000.
$19,995,000
GUARANTY TRUST COMPANY OP NEW YORK, TRUSTEE
January 1, 1920, maturity, price 99.22 and interest, to yield XVzre
1, 1921,
1, 1922,
1, 1923,
1, 1924,
1, 1925,
1, 1926,
1, 1927,
1, 1928,
1, 1929,
1, 1930,
1, 1931,
1, 1932,
98.10
96.81
95.37
94.32
93.32
92.38
91.49
90.65
89.86
89.12
88.41
87.75
uitt'o
6'.
5
5
5 ?.
5r
5 Tiro
5Ts9i
5r
Authorized $9,000,000.
$7,800,000
Michigan Central Railroad
Equipment Trust of 1917 Certificates
6
March 1 and September 1
Maturing $600,000 each March 1 from 1920 to 1932, inclusivci
Matured or cancelled, $1,200,000.
Denomination: Coupon, $1000; registerable as to principal.
Registered, $1000, $5000, $10,000 and $50,000.
Outstanding, $7,800,000.
GUARANTY TRUST COMPANY OP NEW YORK, TRUSTEE
,Th annual report of Marconi Wire
ess Telegraph Company of America for
the year ended December 31, shows sur
plus after charges, of 8711.841. equiva
lent to 35 cents a share earned on the
capital stock of 15 par value per share,
as compared with surplus of 1817.772
or 30 cents a share in 'the preceding
yea r. ,
listern steamship lines report for
January total operating reienue $167,
163, h decrease of J25.276 ; total income
(33,340, a decrease of 127,236,
The New York Subtreasury lost J983,
000 to the banks yesterday. .
The Guaranty Trust Company of New
York, has been appointed disbursing
agent for thi special Liberty Bond dlvl
dend of the American Woolen Company,
payable April 15.
nivinr.xns
it-5 TKOPI.KM NATIONAL I'lRK INSL'tt
3? AMCK I'OMPANY
Philadelphia. March T. 1019.
The Hoard of Directors hss this clay de
clared a dividend of IVi per rent, payable
April 1st next, to stockholders of rscord,
March 20, 11V.
"Checks will be mailed.
JAMES H. CANNIN0,t3raiurr,
March 1, 1920, maturity, price 100.47 and interest, to yield 5',tf
1, 1921,
1, 1922,
1, 1923,
1, 1924,
1, 1925,
1, 1926,
1, 1927,
1, 1928,
1, 1929,
1, 1930,
1, 1931,
1, 1932,
1 0Q.69
1 00.67
1 00.44
100.63
100.62
1 00.71
1 00.79
1 00.86
1 00.93
101.00
1 01.06
101.12
Kir
59'o
Wive
5 Tift
5
5tf
57sCo
B
57o
5?.
6?i7
These certificates are secured by first and only charge upon equipment leased by the Trustee to tho
Now York Central Railroad Company and th'd Mibhigan Central Railroad Company respectively, the title to
the equipment being vested in the Trustee for the proportionate benefit of certificate holders.
The cost of the equipment, substantallly all of which was purchased during the year 1916, was
approximately 45 in excess of the face amount of certificates now outstanding. It is estimated that tho I
replacement of this equipment at present would require the expenditure of a sum more than double tho
amount of certificates now outstanding. V
The issuance of these certificates has been approved "by the United States Railroad Administration.
The form of all papers and proceedings in this buainess is to be approved by our counsel.
We offer these certificates, subject to delivery to us and to prior sale or change in price, at tho above
price3. ,
Bankers Trust Company The Union Trust Company
New York of Pittsburgh
Hallgarten & Company '
New York
STATEMENTS WHILE BASED UrON THE BEST OBTAINABLE INFOBMATION AltB NOT CJUARANTEED
T-
:
A
T 1
J
.- ' . -.
n.