W mv $l. v.; M;8 . i i t ""V n VTtf Y' v AlElI - TV. EVENING PUBLIC LEDGER PHILADELPHIA, SATOliDAY. 12, -JJ10 , . ."C" r. at- . . - - :- --' i. l " IV- FINANCIAL NEWS CLOSING QUOTATIONS ON NEW YORK AND PHILADELPHIA STOCK EXCHANGES; f-i fit m- Jr ? & K' K? B (? EK Si as r It b& H- Jfv far. 'VS . Stf-f i-p m.t ..' ,. rh f. P If- K I n it HBkj V EXHAUSTION OF BEAR FORCES CAUSES IRREGULAR MARKET General List, Not Influenced by Unusual Conditions. Fairly Steady Steel and Bethlehem "?" Drop After Gains High Points in Today's Financial iScws Unsettled conditions continued on New York Stock Exchange, be cause of exhaustion of bear forces. Steels declined followiriK ad vances. Changes were narrow on the Broad Street Curb. Covering helped corn prices. Cotton advanced. Foreign exchange was heavy. The weekly New York bank statement showed increases in average and actual loans and decreases in demand and time deposits and re serves. Bank clearings throughout the country this week wore below last week, but above corresponding period of 1018. Bar silver was slightly lower in London. NEW YORK STOCK SALES Jv ;r"i no1, j 77 New York, April 11. While the world jtif ( now ii watchm nil the various steps taken in I'nrls to linstcn n pence agreement. Wnll Street had special affairs of its own forced into oonsiderntimi thnt explained w.v United States Steel common riihrtl up to 100Tt on Tlwriliij nnd why many other stocks fluctuated over a wide ranee, some in.iUns violent advances which were followed by jut as violent tlcclinc. with a Kcncinl uiwttlcinent of thp entire list since Thursday afternoon. I.ate jeMcrdny there was n good ileal of slock traded in for cash and there was tnlk in a certain group of houses about the noco-.itj of making arrangements by which the ndditinu of another ihapter to Wall Street's history would be nverted. It is understood that wherever the tangle of affairs rested that these ariaugements were completed so as to avoid tor the time anything in the shape of a public announcement. The general list, including the stocks which were not inHiienccd by the episode in Wall Street affairs, was fairly stead; United States Steel common showed strength in die enrlj trading, ad vancing H to JWJs, but dropped to below PS later in the forenoon. Beth lehem Steel "B." which was one of the stocks influenced by the ex haustion of bear forces, moved up 1 point to 77. Inter losing this gain just as United States Steel had done American Sumatrn Tobacco sold down more than Ji points to below 10o. Texas Company was the strongest of the petroleum stock", making a train of more than 4 points to above 218. and American Unseed was estnb lished at a new high record, advancing .'! points to nbnM ,11. The marine stocks were fairly well held, but yielded on 'the usual week-end liquidation. Pronounced weakness developed in 1'nited Cigar Stores and American International, both these stocks dropping about .' points in the late trade. Business in bonds was smaller in volume, with a generally steady tone. Fourth Liberty 4'4s yielded slightly, but the trading in the Liberty issues was without importance. SESSION ON WALL ST. TRADING IS LISTLESS E Auv Bumely. . .TJ-i do pref .... fifths Ajax Jlubbcr.. 71'J Alaska Bd M. .Tjs Alaska Juneau II '4 Allis. Chalmers. 37 M, do pref !K1U Am Art Chem.lOS3i Am Beet Sug. 7i''s Am Cni 00 Am Tar & F. m Am Cotton Oil. AML Am Druggists.. 1.T& Am It & Leath 'Jl nH I do pref lOOU I m Int Corp . . 82'4 J Am Ice Sec . . 4fl',4 1 do pref tit Am Linseed . .. ."2K . do pref 04'4 Am Locomotive Otl lAm Smelting. . . 71 1 do pref I043, Am Sum Tob..l09!i 1 Am Steel Fdy.. 8H4 1 Am Sugar . . .12S Am Tel S. Tel.10.Ts 1 Am Tobacco .207:14 2O70j Am Wool r,0is i"St. do pref . . . (in, WVi Am Writ I'n pf 41- I Am 7. ( Ld pf 44. 1 Anacondn .... (11 7M 'Asso Dry (Mi ,'!0r"s I Atchison !I2 Allan Coast L 07'. JAtlan C, & WI.128'2 Bald Loc Co.. !H ", Bafoidlas Mln . 17M Bethlehem Steel 70'4 j do It 77 I do S p c pf. . 107Ts Brklyn Bap Tr '.. I do clfs 21:,s Booth Fish Co 20j Burns Hi os . .HVP.. B 0 & 7. Co.. 71.I. iButterick Co . 2.'?', Butte A. S Cop 21i,i. Cnl I'et 2."i ' do pref .... 70 Cnl Pnck Co . 02 Can Pacific . . . l."0 Certain -teed P .'i.',U. Cent Leather.. 7(1 ''J Ceno do Pasco W, Chandler .Mot.. 141 Chi Ot West.. 7-H Net 17 1 :. ',& :wn ntu ui 110 V, !)0i . . 108 10S 74i,i. 741j ai P2's 'Jtm ' 41) 40 IS 1.1U.. 2i'i 21 14 16 100 100 77 i 77j ! 40"', 40 04 04 . . r.iu r.2 , OK.', 114 14.1 00-74 OO-f 70 70 Mi 10114 104-y, 14 10.-1 io.-i, njs 81 81a4.. 127 127! 104 104M4 . . Nt lllh 11W Close che USCIP (c V.. 22A 221j 22j '4 t f r, ... ......... . ..-... r i' inn Aiciio.inriM, jri2i ln'Ji ivi V S Bubber do 1st pr Un I'd Prd U S Steel . do pr . , . . Utah. Copper Vn Car Ch do pr .... Wabash nr A.. !W West Maryland 10 West Un Tel . 8rt Westingh Mfg. 40 Vi Wheel & L U 7 AVLJte Moto . . 5G Willys-Over .. .10 Wilson Co ... 84V& do pref .... 1004 S(Vt 8T.T4 80 .112 112 112 . 07 00 C.OM1 Ik . 08 07 117 .110 HOI HOVfc . 74'4 7aij 7.1 14 . OffK 001ft 001'h ..112112112,6 Vs .12'. 101 son 40 7 r.r. 211 83 1 un vi 33 ' 10i,i 80?4 40.. 7 n.-i 20 "4 84 1001,4 41 431j OP, 30 !Ph 071;. 127 SOL. Hs 70 ll) 207"i r.sVj 1... nn', i', 41.. 43141 01 3n.iis ni n7i,. 128U 001 1 70 2 Worth P & M 03 OSUj 0"l4 Totnl ls reported on Nw York stock linker 481,300 iharen. compsrcil wllh t, HKS.DOO ihirti yesterday; this wefk's. 0.637. 1oi thnres, last week's, 4,008,400 shares. New York Bonds SaUs In IIOOO lllah 10 Amer Airr H. . . O!) 1 do deb 5s 108'4 101 atw 40 AngTo-French fis 1)0 110 fV4 5 Am For Sec 5s. Pfl 051 !M1 2 Am Tel & Tel fis 00 1)0 00 4 do 0s 10214 102 102 0 Atchison 4s ... 81 81 81 8 Bait & Ohio 3s 88 10 do Cis 70 1 do 4s 75 10 do cv 4Us.... 75 I Beth Stl 5s 1030 8." 15 Can Oov 5s 2I 07 25 do '20 07 1 do Ml 07U HCen Lthr 5s... 05 5 Cen Rn N .1 5s. 10.1 2 do Cs 101 ii uniie os oitvi t.OW OH 88 7874 75 75 85 07 00 074 05 103 101 OU',4 COVERING CONTINUES IN THE CORN MARKET Vi u. 107 107 a; 21 -!1- J4 -'0 Ki.1 i,, 714- 2314- 14 21 25 14 70 -f. 14 01 14 1.-.9 301,4 . . 75V, -Ii I"! 21 20 103 T'4 23 U 21 14 Neither Pronounced Strength , Business on Moderate Scale Nor, Weakness Develops Lit tle Interest Attracted and Fluctuation, in Most Cases, Is Narrow was 2!).i, I,- l.'.i... and in Aflna I"tploli, Am-lirll Mtfj s and United States food products . .;V"r"! , . . .. .. . American r! a good account of itself. The rniN Air Iieduitinn StnrK sales today on the New York Exchange totaled 537.900 shares. New YorU. April 12. The New York Kvrning Sun's financial review this aft ernoon is as follows: Although technical conditions within the market itself ruled price movements in today's nhort session, sentiment was measurably improved by foreign ad vices that n virtual agreement had been reached in the major matters of the Pence Conference and thnt tbe protocols would be rradv for signature in a week or so. Security prices were higher at , the onening in most cases and trading was fnirlv animated throughout. In the middle of the first hour, how ever, a reaction set in which went far in neutralizing initial gains In an other half hour the list stiffened once more. The session wns, indeed, a most unstable affair nnd attracted little in terest. Neither pronounced strength nor weakness developed. The steel and copper groups, nnd the shipping shares ns well, were under pressure a ,good part of the time American Sumatra tobacco showed an cvtremely reactionary tendency. The oils uro well bought at adancing prices gave a good were quite neglected. New Haven sold down below 28. Trading was even less aggressive in the second hour and the list did little more than to swing backward and for ward rather aimlesly. Steel slipped below 08. and Bethlehem Steel P lost its gain of a point or so Texas Com ,pany ran up to n new high of 218, but quickly reacted. Traders and piili He alike were content merely to adjust the odds and ends of their nrcounts for the week end. Bonds were quiet and not changed materially. . Fnet and rumor combined to keep nlive such interest as there was in out side happenings. Tnlk was heard that either, Secretary Bedfield or Director General Hines would resign ns 11 short way of cutting the Oordinn knot of the steel-priee dispute. Such 11 contingent.; would seem to hinge on the wa; the President decided the controversy, which both sides have submitted to him It was a matter for gratification thai the Slay 1 obligations of the railioatls, totaling some 100,000.000, hae been arranged for by means of certificates of Indebtedness to be used ns collateral for , fnmmonw faith loans by the roads. It is presumed that i;ViJ. nin Congress will be in session by the time 1 Federal f)i the .lune and July requirements fall due. Hoftnif'oi'i The outlook now is for the presidential pif"!" oil summons to an extra session early in M.,"pJ!rni '.fl1'.n.B. . May, nnd in any event not later thanlhio Kud .. .. the middle of that month. STh ""' ":' New York. April 12. There wns no special feature to the trailing in the halNdny on the Rrontl street curb, business being on n moderate scale and tfuctuations were in most enses tcn fined within narrow limits. A gootl deal of interest was attached to dealings in Clairborne Annapolis, which ranged from 14 to IlLj. Ameri can Boat! Machine opened nt ."1 nntl renctetl to 52.. Inter-Continental Bub ber soltl nt 21 to 21. There was a motleiate amount of business in Bemington Typewriter at 4!)1m to ISIa,, Swift International sold 50 to tiOL... Libby. McNeill ,V l.ibbv Chi M & StP. 37 tlo pref 00 Chi It l&P t c. 2.1 Chile Copper. . 23 Chino Con Cop 37 Col Y & Iron 42 Col Cas & Llec I.V.. Col CJns p.-, " Cont Can .... 78 Corn Products 0(i , Crucible Steel. 07:l1 do pref .... !).', Cuba Cane Sug 20 14 do pref .... 70 ' Den & It C, pf 7 Domes .Mines.. 14. Erie 10 do 1st pref. 27 Fisher Body . 00 Fed M S pf. 40 (Jaston-Wms . 30 I Gen Cigar Co. 58 Gen Motors . : .170 1 do deb 02 I Goodrich It F. 07 Great North pf 02 I tlo Ore subs. 41 k quiet, with a few sales at :!() to Greene-Can Cp 42:,( I. reel less son at ' I to '.,'.,. International Petroleum was fairly acthe. ranging hmii .'Mil... in 2!l.. Sin tlnii- Gulf soltl at )7:,i to 17 and Fiske Rubber Tire nt ::4i.. In .:.",i). Submarine float was steady, with moderate amount of business ut'15.1. i Aetna Explosives soltl nt pi. - H 3 IMM xfKIAt.s Hid Itinu Prfpr nudlan t'.tr t'. fan Car A Kdv crpf t'harcoal Iron t'hprnpt Motor-. Cramp I'urtlss Aeroplane t'anxen Tool IfarBon Steel j Ktnerson Phnnosraph I Federal ne 1 Hendce MfB l.akn Torn it.iat !ehli;h t ttal s'ales Maxim Munitions . National. Aniline . N V f!hipnbulldln;r V Am Tap Pulp Oils Elevator Peerles Motor Poole Ener Seripps-Ilooth Standard Motors . Steel AU011 Kt loyeph I-eid Submarine Swift Inter Todd Shipbuilding . Trlanxle Film rnl.ed Proflt-Sharlnc f S Steamhlp . . rmted Motors World Film WrlKht-Mi.rtln Air a 4S 114 .1 J'l a so :n so M't 20 Vpji Ask !". I 4 4 h-. Sj L'.'.'l u Haskll & Bar 504 III Central OO14 Int Arrieul . -. 221 do pref . . , Inspir Copper. . 40n Inter-Cons Cor t , do pref .... 13 Int liar C I new) ...127L. Intl Mer Mnr. 31 70 01 V4 150 .101, 75 U. 41-i4 130 7 30 08 2.I14 2.1 30 1. j 12 45 05 78 5014 00 - 03-14 20 70 I II 10 27 50 30 20 57 i 175 OIL'. 00 02 4 1 42 50 0014 20 10 I ML'. Tone Considerably Stronger on Higher Prices for Hogs and Less Liberal Offers Chicago, April 12,--A considerably stronger tone prcvniletl in the corn mar ket this morning on scattered buying by commission houses nnd cash firms, in duced by higher prices for hogs; bullish ndu'eos from Argentina nntl less liberal offerings from the countr;. The covering movement thnt was be gun near the close yesterday wns ton tinned, and there was little for sale iu the early trading. The receipts here today were 157 cars. .May opened nt $1.5814 to $1.50, rinse 00 now 78 75 75 85 07 07 174 05 103 101 80 11 Chile Copper 7s. a. 7 117 117 C & O ev 4s. 70 7U)' "& 1 do 4s 78V4 784 78U 3 do cv 5s 80 85 80 12 Chi & X 5s '87 08 J18V4 08 15 Chi Bwys 5 73 7.1 7.1 22 CB & Q4s..r. 05 05 05 2 C II & Q III 4s. 82 .82 82 4 CM &S.tPrfd4s 00 00 00 1 Col & Sou 4s. 78 78 78 10 City of Paris 0s. 07 07 07 1 Cumber'd Tel 5s. 0.1 03 0314 5 Dis Secur Cor 5s 01 01 01 18 Erie ronv 4s Ser ' A 47 47 47 10 do 4s Ser D... 4S 48 48 5 Hud & M in 5s. 10 15 10 7 111 Steel 4s... 84 83 83 5 Indiana Steel 5s. 85 85 85 21 Interb Met 4s. 33 32 32 10 Interb R T ref 5s 00 00 00 5 Inter Mer M 0s. 07 07 07 11 Inter Agr 5 81 81 81 3 Kan City So 5. 81 81 81 4 Kan City Ter 4s 77 70 77 3 Lake Sh d 4s '28 87 87 87 5 do deb 4s '31. 80 80 80 12 Leh Vnl rets Os.102 101 102 220 Lib Bond 3s.. 00.14 00.10 00.12 Philadelphia Stocks . , ..... Itlsh ).ow Ho Am Mill. 10 10 1078 Brill .1 O 40 .17 5 do nref. 01 7 Cam Stl.115 115 Klec Stnr 00 0 Gen Asph 05 28 Leh Xav. 08 53 Leh Val. 54 OMIdvalc.. 47 175 Pn'Traf. 2 084 Pn It It. 44 10 Pa Salt.. 82 00 Phlla Co cum pref .14 142Phila Elc 25 415 P It T t c 24 70 Keariing.. 84 50 do 1st pf 37 100 Sinclair Oil ..... 50 100 Ton Bel.. 3A " U U I.. G0 01 110 00 03 08 51 47 2 44 82 34 25 24 84 37 50 3 A 00 Net Close che. 10 2 40.1 01 20 110 .. OOV, . . 05.. 08 1 54 47 2 A 44 82 34 .. 25 24 81 37 50 3,V. 00 414 130 114 ' -J 7s 6S 23- 23- 1,4 :;o ii ' 42 1., j 45.. 05 1 7S a 50 l 07 Ti 03 V 20 . . 70 .. 14 10 1.4 4 s 02 30 20 "8 170 -4. 02 1 '0 3 02 . . 41 12 501,4 ii OO14.. :o 01 4 131 1 against SI, 57 at the end esterdnv .Inly staited at .$1.51 to $1.51, ngaitist SI. 40 jestcrday's price. September opened nt $1.45 to $1.45, compnred with $1.44 nt the end ;esterday. Oats started firmer in sympathy with corn nnd 011 report of late seeding in some sections. Shorts covered nnd rnmnussioii houses were on the buying side, with offerings limited. The'ar- 1 rivius acre louay were uti cars. j Clearances from Argentina have been I light for some time. I .nay openeti nt tiSlfec to lifj-sc, 1 j against 07c ut the close ;esterday. ' I .luly openeti nt 00c to 07c, against I 00c at the close yesterday. Septcm- 1 ber started at 0.1V4c to 0.1c; against ' . 027sc yesterday's last price. I I The receipts of wheat at Mlnneapo- , I lis today weie 154 cars, against 150' curs last jear : at Duliith. 1 car, against I I 5 cars: at Chicago, 0 tars, against 3i cars, ami at Winnipeg, nil cars, against 242 cars. 187 58 1778 75 287 2120 do conv 4s, do 1st 4s. . . . do 4V48 do 1st 4s . do 2d 4s.. tlo 4th 4h.. 03.00 03.04 03.04 05.S0 1)5.00 05.00 05.02 05.50 05.50 05.80 05.00 05.00 03.08 03.04 03.04 03.04 03.50 03.00 83 58 05 071... 82 1 M & St P & S Ste Mnr By 4s. 17 Mo Poo gen 4s. . 2 Nat Tube 5s ON YC & H 0s.. 1 do 4s 1 N Y Cy 4s '04 00 .2 do 4s-1003..101 3 tlo 4s May 1057 101 1 N Y Tel gn 4s SS4 2N Y W C & B 4K.s 44 1 Nor'pnc 3s 58 5 Ore Short L Is. 85 1 do 5s 10 Pacific Tel 5s. 10 Pacific Gas 5s 15 Penna 5s 1008 07 OUi 80 04 heading futures ranged as follows: Corn tnew deryj Yes'day's Open HlKh Low Coe rinse itav .. 1 SS 1 Stl KSS .184 l.R7 Julv . 1.51 l..M 1 .1114 1..M 1.494 Oats Mav . US', S's 4 HSS (174 July tit)5. 7'i 11(14 11" B04 Lard Ma ;n 75 SO Oil 20 7.1 SB 97 119.4.1 Jul L'S 7t .' 92 28.70 2S 90 2S.52 Illbs Ma . 27 M 2S no 27 8.1 27 97 27 .15 Julv 2.1 70 2.1 82 2.1 70 2.V82 25.511 Pork May.. . 50 2,1 .10.10 .10 25 50.45 49 7.1 Jul . . 47 00 IT'S.', 47.0O 17.15 4H.S7 It) Pierce O 0s '20.107 107 24 do '21 08 2 Beading 4s 82' 2 Bep Cuba 5s '04 08 1 BioGr & W4s. 01 20 Sinclair Oil 7s. 07 Vi 4 Seabtl A L adj.'s 48 4 21 South Pne cv 4s. 83 1.1 do cv 5s 104' 103 103 14 do rfd 4s 80 80 80 10 So Itwy 4s... 00 00 0 1 do 5s 03 03 03 1 Texas Co 0s 103 103 103 2 Tot St L & W 4s 51 51 51 2 F S Rubber.'. 87 87 87 83 83 58 58 0514 05 07 07 82 82 00 00 101 101 101 101 88 88 43 43 58 58 84 84 07 O714 01 01 80 Ml. 04 04K. 107 107 07 07 82 82 08 OS 04 04 07 07 48 18 83 83 102 U S Steel 07 07 07 H008O,Se.tSearS.',,.3?J,7 "n"M- mpared wh BONDS Nel ?150LlbBds ,l"Ih 'MW t'l" thI' .... 3s.... 08.70 08.70 08.70.. ? "' 4V8 n'T00 m" 03.00 .04 .100 Ld 4s... 03.30 03.30 03.30.. f 3I 4s. 05.58 05.30 03.5S.28 2000 Penna Co tern cts 04 1000 Phil Elcc 1st 5s.. 03 1000 Beading sen 4s.. 83 ?i.?,iH' ,72B,: vmpored wllh j:oo 230.or W" '28l'5i I"t week's. 04 04 03 03.. 8.1 S3 t... Local Bid and Ashed Amer Stores ... Huff & stusq . . . T do pref nnti j a .. ; Baldwin " Blec Storage " Oen Asphalt do pref Keystone Telephone. Today's nid Ask 7 50 2.1 (in 52 Yesterday's Illd Ask 117 50 3H4 ilo nref Ijake Hup Corp . Lehigh Xav LehlKh VaJlav . Lehigh Vl Tr... do pref Pennsylvania ... I'hlla Hlec Phlla Co do 5 per cent. do per cent. Phlla P. T t c... ueaaing 1 Ton Del ,Ton Mln tin Trao ssvi ' s sieVi".'.'.::; 'Jo pref . ,'. '. ' '. '.,'.'. an m Cramp & Sons. 02Vi 89 90 91 s n'i mi', B4 .-, n.i 97 (IS 174 74 8 74 47. 19 47 ini 20 19 R8 H8I4 RS 54 54 '4 54 !4-- -..i " 4t 444 14 2.1'i 254 254 3.1 .111 31 28 .111 28 34 314 31 244 24. 24. 834 S4 84 34 34 34 34 34 3A 38', ail 384 94 B9 974 974 984 8 31 4 30 92 nil 38 914 lT, .14 984 N 19 20 S 4 51 25 444 5nS 30 344 23 844 34 34 39 If94 1'84 8 31 944 LOCAL STOCK MARKET DULL, BUT HOME LIST HOLDS FIRM . . .. G. Brill Assumes Active Leadership and Soars Prcr jcrred Gains 20 Points American Milling Drops There wnt n comparatively small turnover of stocks in loday'ss short ses- J -!.... -e i. ii,.,,- , . . . . .... .... . li si tvmi i me iiiiiatieipiiia exciiunge, nut the market tor Home issues wns generally,' nrm. un the other hand, jrregulnrity on the big board was reflected by reces-, slons for a few arbitrage stocks. I. G. Brill become prominent again, advancing 3 points nnd was the-'! active icatier, nnd, near the close n small snle of the preferred came out at 1)1, n gain of 20 points, ns compnred with the last sale price in December. 1018. Cambria Steel moved up 5 points and Kleetric Stornge Battery. Pennsyl vania Salt Manufacturing. Philadelphia Company cumulative preferred, Phila delphia Blectrlc and Bnpld Transit trust certificates were steady n't or around their previous closing Icwds. American Milling, on the first snle recorded for some time, yielded more than 2 points. I'nited States Steel common wns lower, btTr slow, ond Bending common nnd first preferred nntl Penns;Ivnnln Ballroad shaded slightly, but recovered the loss. Lehigh Valley mine out michangcr, but later turned upward. Bond business wns limited and. excepting for improvement in third Liberty , pnee ennnges were uninteresting. March Anthracite Shipments Small Shipments of nnthrneite for the month of March, ns reported to the an thracite bin can of Information, amounted to .1,038,008 tons, which exceeded those of February, when the total was 3,871.032 Tons, by 00.000 tons. As compnred with March. 1018, when the shipments amounted to 7.270,777 tons, the shipments in Mnrch this yenr showed a decrease of 3.337,800, or 40 per cent. This almost unprecedented low record for Mnrch shipments of iiiiu.iuciic was uiinuestiunnlily tine lo tfie holding off vof consumers and dealers minting piircnnses, uecnusc or the nntieipatigu of a possible reduction in price '.J on April 1. g ' .. . ... 'A Ofljcials of railroads mirrntinr enstwartl from Cliionro nnd St. Louis renort -rl little change in conditions which hnve prevailed for a number of weeks. Gen- - orally the amount of tonnage is fairly well balanced, but is considerably lighter 1 than while the wnr wns still on, 7 There is now enough domestic business moving, formerly held back by jSg wnr orders, to make up a fair aggregate of tonnage, nnd nn easier situation ,V prevails in shipping centers generally, with the car supply better than in many '& months. jffi Business in the sections covered by these roads remains comparatively quiet, "ts although expansion is looked for ns soon ns pea"e has been formally declared. "J Officials of southern roads say that the lolume of freight moving over . un ir lines is nnout in per cent under n year ago. The movement of general j merchandise shows slight improvement nnd miscellaneous tonunge has improved fl slowly of Inte. ' , GAIN IN BANK CLEARINGS Business 18.7 Per Cent Greater Than This Week Last Year ' Total bank clearings of nil the dear. ing houses of the United States for the week ended yesterday have been ?0.- 000.007,850, against S7. 258.052.847 Inst week and 55,801.000,548 for the same week las't year. The gain ns com pared with the corresponding week in NEW YORK ANK STATEMENT Increase In Average and Actual Loans Reserves Lower New York, April 12. The New York bank statement this week shows iucreases in average nntl actual loans. nnd de creases in reserves in both cases. De posits nre lower. Details follows : AVKllAOK ine .J4. 841. 7119,000 Loans , . Net demand de- noslls ... . t3.9R4,lR4,O0O Net time deposits 151,591,000 v ircmauon Cash In vaults Resere In mem ber banks ... . Resere In state banks and trust panies 12,401.000 xteserve.-in stale 37.R3R.nnn 07,914,000 S.13.l4A.nno 25.RRfi.nno 1.753,11011 121,000 3.(183.000 537,045.000 23,921.000 J1J1H fs 18.7 per cent. gain is 0.0 per cent. Details follow: toiw Philadelphia's 1918 Iw York. 3, 318, 912,987 $2 ChlcaEo. .. 4.18, 5HI, 11.11 Phlla . . . 3(iti,9.m.nn lloston. 230,243.317 Kan City 135,447.2.18 Kt. Louis. 131, 570. (120 San Fran 97 non nnn Plltsburjh 9H.S1S.13R Detroit . ll1.039,R.m Hattlrr.ore, 5tl.77l.S27 N. Orleans IS, 298, 513 Kleven cities, Ave das. $1.9(11, (102.230 $4,045,(S30,flS94-22.0 Other cities, fhedas. 83,947,98.1 850.497.(19.1 4 3 Total all cities. fle das 4. 847, 010,213 $4.89(1,128,381 19.4 All cities, one day.. 1,14R.997,fl43 993,538.1(17 -4 15.1 r C. Ill, Ml. 944 32.9 4.13.3S2.831 1.2 287,141.804 II 9 213.(177,859 0.8 173,098,3H 10 2 134,0.13.440 2.3 S2,l)2'I.Rlt lR 2 04,8(15.5(1(119.2 4.1.211.243 34 II 45,700,158 24 1 52,(112.159 T I RESERVE BANK REPORT Local Rederal Institution's Weekly Statement Shows Small Change The statement of the Philadelphia Federal Reserve Bank ns of yeslerday showed little change from the preceding week. Totnl bills on hnnd were .$188,411,011 s compared with $185,025,320 the week' I before. Contingent liability as indorser of bills rediscounted with other reserve banks increased slightly, being $45,050, 000, ns against $43,250,000 the vycek before. " The ratio of total reserves fo net de posits and reserve note liabilities wai 41.8 per cent, ns compared with 41.0 per" cent last week. . Comparison of important items fol low : April 11 April 4 Total resene ... $130.2.10.157 $128,930,27(1 Kanilng assets . . 200.077.ni1 20.1,303,720 Capital 7,.1R1,1(I 7.5R7.050 Goern't deposits.. 0.820 510 7.3U..17S Due to members .. 99,078,007 102,988,129 "S 1 m Total all cities for 'veek $0,990,007 S.10 $5,891,000,54818.1 r;i-.i COTTON CLOSES FIRM, ! WITH LARGE GAINS p. :;o 1271-.. 'a 30VS 1 Isal-I II 14 do pref ...114'H 112i 112-ri 1as Intl Paper ... 4i Intl Nickel ... 20 s Jewel Tea . I77s tlo pref ... SO Kelly Sp'field..l287s Kenneiott Cop 32 Ke; stone T i.B 0S1 Lack Steel 70 Vs Lehigh Vnl .. 54 M Lee Bub & T. . 27 1 Lig &. M TCopr 1 1 4: 20 43 1 88 120 31 04 , 001 A 54 Better Weather Expected to Cause Increased Offerings of Spot Article 5 do 7s IfW-X, 10.1ii 103V. 31 I" S Steel s f .'.s.lOO 100 100 mV.n'nV,Y. 1,1 U K Ot W li&l 5i.s" '21 08i,i 08'ls 0S--K 34 do '37 00 08 08 '8 Va Car Chin OtrilOlli 101 . 101Vd lVa!twys5s SOj H9t. 801.. ' Wash V Pow 5s 00 00 00 5 West Md 4s 50 50 50 tories Aa-greKate reserve neserve required Surplus tUnlled SUtes 110.001) Decrease 11.4.10,000 500.890. nnn 527.024.530 .T. ll J 1.4711 81.000 23,51 7, IKIO -ii.a.l.L'lio 20.1(12.7 10 deposits deducted, $235,- I It Loiiisv & Nash.1151" 1 1 .- kl 20 1J 103 "a l' js 17 3S 3 TMIR fill. .STIirK". 15', ?,, inn S. . !. 2s IS I.I 111 00 2n'j 14 15'4 39 . tO'i I Illinois Ohio Trairi Tipe s tl u'sl s ri N .1 S II N V ISO 3.18 093 208 07.1 34S Isl .143 703 273 l. Ml 3.12 Max Motor . do 2d pref May Dept S Met Petrol , Midvale Steel .Mo Pacific . . . do pref . , Mont Power . Nntl Acme ., Not C & Cable 17 Nat P. & Stpd 50A& N Bit M 2d pf 0 1 Nev Con Cop. 10 N Y Cent .l N Y C & St L 2d pf 45 N V N II II.. 20 Vsl 27 - , II .. 1151,0-f l't 30 31 70 1 1.4 30 30 . 3i ng :;i . 70 70 .183 181 1811 Vt 47- 40M; 4GBs r;4 2.1ns 23 1 231. 51 70 .18 1714 50 0 10 73 51 70 38 15 -I '8 & V 10414 10414 104 IMIKfKMlENT Oil. '.TOf'KS Harnett Oil A (las 42 P. 2"i 30 79 31S .108 . 3 10 Sinclair Island Glenrock Sterling and francs firmed iu the foreign exchange market, 'while lire ami neutral rates eased nwuy somewhat. The trade journals view the gen- ernl hnftlness outlook fnvornhlt. AVMIe litis Idce fc(M, :mr,wm. : ,it, :..,. : I Uoeton llor.lana Minlns fio laiuni jiiijiiuiruivut 111 , iiiiuiiiuiis 1-. un I Hutte New York yet gradual, prospects brighten dnilv. I Con Arizona n.....n fli. iu ,...! i n.....i 1 ilTIt Jerome. ...u.. .... ..mt .- ........ ... Biiuinuiui v Natlona 4.1 94 74 2', 3(1', SI 31 1(19 3', IS 10't 8', A 9S, 74 2'i 3(1 81 314 107 7'i SVl 5'i Si MIMMl STOCKS i 54 circles because of the showing iu the1 Uoid'eid Mereer government, wheat report, and the same influence has strengthened trade confi dence the country over, creating u tan gible basis for prosperity. There was further expansion in dis tributive trade this week. Those lines which have been curtailed by war be Kin to show marked expansion, nnd all the, textile mills, particularly in the North, are displaying increasing activ ity. In March food prices advanced to home extent, while manufactures and raw products tended to go loner. Bank clearings this week totaled $6,900,007,850, against $7,258,052,847 last week and .? 5,801 ,000,548 in this Week last year. GOVERNM BONDS nid ana ma coupon 2. 1930...... vnK iilnu Mllstered 2s. 19311... 8I 'anania coupon 2s, 1BJH...... psu insmi remsterea .a. iuas... nsu 'isimi coupon 3a. 1001...J., 87 nnta reijlsler.d 3a. ll'fll... S7 lilllrpln. 4.. I U.I 4 00 Hllpin IB, iBfli, .. ih, HlDplne 4s. 192S 911 H (lor coupon. '-'. 193n.. . 984 JD On. rol,r.l 'J I03O QMlI ii Oov coupon 3s, Idtn.. , sn riju Mttlalereri 3 ItllA ku 111 41W rlHVll ti. iO.'S , Ol'f M is, l"Jnv,injn oi (M ' Ask 90 "All 92 Vi OH lid 90 99 IIH 92 92 loan 1 on l, 100 . 1 14 5 19 40 5 5 3'i S 38 13 4S 29 37 1-32 (loldftVId Cons flold Held Florence .. , (joldneld Kewanas (Ireep Monster net la Vilnius . . llowe Sound Independence lad . Jerome Verde . . . Jim Ilutltr .lumbn Eilenslnn . McK'nlev Darragh .. Alapma Copper . . . Mother Ide Mines Cn of America. Nevada Hills ... Nevada Wonder . Nlplsslna; Ohio Copper nay Hercules San Toy Ktewart . . . Tonopah Extension . . United Verde ... . West End Con . . . White caps 2 Terlnston niiN'ns Bethlehem "s (notes) 101 Cosden Oil Is 90 Coeden Co 90 Cudahy 7s . . It2 Russian Govern'! 34 s 32 Ilusslan Gnvernm't flifcs A9 Southern nsllway 5s. . 99H Sinclair Oil fls 93 Todd Shipbuilder Ss .104 7 20 50 7 54 31 15 30 .11 39 'North Boo 02 01-v, 02 .. 'Okla P & It... II tOii 11 4- Ohio Cas 12 4Ji', 4ii, . 'Ontnrio Silver "1,4. 7i 7is 0ens Bot.... 532 5.1 5.114 Hi Pacific Mail . 3.. '' ' 1 Vi Pac Tel&Tel . 25 25 25 1 Pan Am Pet . 82 81 81 tf- Ti Penn It U ... 44 44 '.. Peo Gas & C . 501,4 48H 48i8- Pere Mnrauettc 13 13 1.1 Mi Philadelphia Co .15 35 35 Pitts & West . 30i 35 .15 'n , do pf 81 81 S1 -1 Pierce Arrow . 5014 4014 40- Pierce Oil .... 20 20-20 'H j March t.w.sConl .... 40 4814 48?4- 14 I Pressed Stl Car 71 70M: 70 17 'J 2014 34 47T&5V SS .. 1271', 1,, ,t3( 3,1 New York. April 18. Notwitlistand 04 U 3inS improved, reports on the weather (i1H, .14 I in the belt, the tone of the cotton mar ket wns firmer todny, although at one time some southern nnd local selling wns sufficient to depress prices below the previous day's close. Some traders thought that if the bet ter weather continues, permitting rapid progress with fnrm work, offerings of the spot article will increase or there 1 Will be a more general disposition to hedge spot holdings in futures. The market closed steady, with new contracts 1 1 to 30 points net higher nnd old contracts unchanged to 30 points higher. OLD STYI.B Yesterday's close Open lllah May . ..24 51 24.70 24 85 July 23 01 23 70 23 76 NEW STTI.E .May ... 20 13 20 25 2tf 48 July. . 24 27 24 40 24 411 Sieptemher 4n --'a 4.', October . 22.57 22.00 22.80 December. 22 14 22 20 22.38 January 21.D1 22.03 22.07 March. 21 73 21 70 21.70 Tola! sales. $0,009,000. compared with 111,098,000 jesterdav; this week's, JU7.017. 00(1, last week's. 177,833,000 ACTUAL . J4.94.1.997.OO0 1108.1)10,00(1 MONEY-LENDING' RATES PHILADELPHIA Call, 5 per ent ; time 5(fJC per cent. Commer cial paper, three to six months, 5i,l 51-4 per cent; six months. U per cent. 51 . . 70i 38 17 50i 0 10 73. . . 45 28. QUESTION OF PRICES HALTS STEEL TRADE 3 Effort Being Made to Adjust Situation So That Business May Proceed 285.00C Loans Net demand noslts ... . t3,n32,5na,nno egs.l.io.nno Net time deposits 152.0.11,000 "411.000 Circulation 38.475,000 22.1.000 Cash In aults. . 540,110,000 '18.930,000 Reserve .In state banks and trust companies Resene In stale hanks and trust company deposi tories Agsrecate reserve Reserve renulred Vti mine . .... tlfnUaH' Ql.la. .IVI.IId HrtlirtH I3T7 190 000 Decrease 12.298,000 11. 892.000 504,200,000 521,282,730 43.017,2 lojne 029,000 19.274,000 11,438,080 SHA.H'JO OUTSIDE BANKS STATEMENT 5TATK llAilVC Uw Last 24 .1.1 24 8.1 23 70 23 73 20.12 20 II 24.27 24 40 23 20 23 4.1 22.48 22 08 22 00 22 20 21 97 22 07 21.70 21 87 NEW YORK COFFEE MARKET New York. April 12. At the start today the market for coffee futures wns firm nnd prices were 1 to 0 points higher. Trading wns fairly active on the call. July sold at 15.55c, Septem ber at 14.03c, December at 14.50c and March at 14.51c. Yesterday's Onen lilch Lrfw Close Close . . 14.95 14.9.1 15.8.1 15 00 15 54 15 55 15tl4 1.1.B0 15.48 14.93 14.93 14.93 14.89 14.68 14.48 14. DO 14.48 14.47 14 47 14.45 14.47 14 47 14.31 11.51 14.51 14.49 14 49 May . July . . . September December January Pullman Pl C.1S0 120 120 4 Tlv Stl Spring. 70 iW - r kmiv. nm. nm i. -- HO III. -..-- ,-, - 'm - - . Itav Con Cop 30 14 3 S, 2A 33 IH 2.1 4 30S lom 93 . 113 102'i 51 nt 9f, 98 110 17 20 54 B9H BAR 8ILVER Commercial bar silver was quoted in New York today nt $1.01 en ounce, unchanged: in Londou at 4Sd, a de cline of 1'lGtL Reading Hep Ir & sti.: Itoynl Dutch... do new Saxon Motors.. Khnttuck Ariz. Sloss-Shff S&I fi2 do pref S014. Sinclair Oil ... Vi 21 84 82 02 Vi now 7 12M, 21 S3i S214 01 1,4 SOU 7 12 51 8014 III'JH 21 83 a; 821,4 0H4 Vj sov. T- 12's 52 1 801 i 11. 41134- 14 05 57 13',: 31 Southern Pac .103 103U 103,4 Southern It U. 27 M Studebaker ... 00 RtuU Motors.. 57 Strombers Cars 43 Tenn Cop & C 14'-i Tex & rnctfic. 3154 Texas Com ...218 Tobacco Prod. 01 -do pref 100 Underwit T Co.147 I'nion Paclfic,12Vi8 iss- Jai',i yt do pref ,K.. 73 73 73 .. Unl Ioy Stl. 43(, 43 43 Vn Cigar Strs.135 130 131 34 1T Drug ...120 120 120 ., Unl Hy InV... 10 W J0 T74 00 r.7V-jl 42 1 1314 14 31 213 214V4. 1 8014 80 1 100 100 14 147 147 2 LIVE8TOCK QUOTATIONS Chlrxn. April 12. JIOC3 Ilecelnts. 4500 head Weaker than opening. Generally Irons, jeiterday'n averare. Bulk. $20 25 r20 30, heavy. J20 43W20.S0: medium I2O.40O20 Rftj llKlftweleht. 19 9520 45. llaht 18 90C20.25I heavy packlnc sowa, J19.33PT19 90; packing sows, tl8.5019.35, puis. 17.50ft9. , . CATTLE Receipts. 1000 head. Compared with week airo. good and choice beef steers mostly Sue lower. Others 25050c lower Ilest "she" stock, .10 70c lower i build, mostly 23c lower Calves, ItWl 2.1 hleher. Fleshy feeders, and common stockers slow, steady. All ethers. 25c hither. SHEEP Receipts, 3000 head necelets virtually all direct to packers. Market com pared with week ago shows decline generally as follows: Wooled stock lambs and llsht yearlings. 75c Its heavy yearlings. 25r BOc. ewes, 25c; shorn lambs. 60c lower: shorn heep steady, 25o lower Kansas Cltr. April 12. -HOOS Receipts. 1000 head. Market senerelly steady, quality poor: bulk of sales S2020.45. Heavies, 20.4020 4Si medium weights. S20O20.I.1; lights. 119,50020.80; light lights, 10M9.75; parking sows tia.2.1020.2.1: pigs. I10O19. CVrTI.K Rtcelpts. lOOO head and .100 calves, Market for week: Ilest beef cattle steady: other irade higher: native cattle 10S 15o lower, butchers cattle bulla and can ners weak, veal calves 23W.1no hlirher; atock ra and feeders weak: nulners 25W85e lower. Heay beef steers. 11.501H9.60 light beef steers J10 30O18.15; butcher cows and heif ers. S.BO10.50: ranners and cutters, 14 75 08.40: ! calves. 10.25I4. stockers and feeder steers J8.50O10. SHEEI' Market for week. Killing sheep and lambs 50cl lower: , breeders 2s lower: feeders steady- weals higher. Lambs. SI pounJs or less. Sia.7aB1B.50r 1 pounds or more. SlS.40fM9.20: culls and common, J13 ;.10)S.;Twe, msdllO" n choice S12.2J C? 13, 251 breading ( S10,S517,7; New York, April 12. "A number ol steps were taken during the Inst week ,iu nn effort to eliminate the conditions created by the action of Director On ernl of Kailronds Hines in rejecting the prices agreed upon for steel rails, but up to the time of writing no definite information was obtainable as to what the prospects for a settlement actually are. What is believed to have been the most important step was the conference between Judge K. II. flary, .lames A. FaSrcll, Charles M. Schwab. Kugene i, (irnce, John A. Topping, AV. B. Dick son and one or two other steel men vtith It. S. I.ovett, II. R. Spencer nnd Henry AValters, representing the rail road administration. This meeting was held at the invita tion of George N. "Peek, chairman of the industrial board of the Department of Commerce, who apparently is as anx ious as nny one to have the situation adjusted so that business in this coun try ran go ahead uninterruptedly and' who has apparently failed in his many efforts to ndjust matters. While only a most meager statement was made after" tho meeting, saying that the steel and railroad men had dis cussed producing costs of materials re (piired by the railroads and that the federal representatives would report the information obtained to Director Gen eral Hines, it is learned in some quar ters that the steel men must have made a good impression with their argu ments. There is no doubt that the cost of pro ducing steel rates, for instance, averages higher for all companies than the prices agreed upon, and it is believed consid erable stress was laid on this point. Another argument most likely used was that rails could not be sold cheaper un less there was a radical readjustment of the present wage scale, and it Is known that the powers at Washing ton are anxious to keep the pay of the workers unchanged at least for the time being. While there is no way of knowing what might develop, it is significant that there are many observers who ex pect Mr. Hines to back down from the position he has taken. They argue that this can be done with grace after the ccst of sheets and other data are sub mitted to him, and it is hoped that he will do so, shortly, in. order a again stimulate the demand rora Tegular consumers, a Loans, investm'ts Gold Curr'nry bk. notes Deposits Federal neservo Bank of New Tork.. Deposits Reserv. on denoslt Percentage of reserve S584. 837.700 8.523,300 27,200,100 52,498,500 A78 193,300 107 327.100 20.20 TRUST COMPANIES Loans. lnv'stm'ts.S 2.082, 5.17, 400 Gold 11,S87,200 Curr'ncy bk. notes 21,149,800 deposits general Reserve. Bank of New Tork... 198,000,000 Deporlt 2.O41.18S.O0O Resv on deposit 284.931.20p Percentage of re serve lfl.fl, Increase SO.571,400 800 1,988,000 008,200 10.775,400 1,998,900 130.019,000 833,300 8S6.000 8,082.000 19,227.300 9,387.800 FOREIGN EXCHANGE New YorU. April 12. The foreign exchange market was listless today, and showed n heavy tone. Some of the larger operators: in exchange expressed the opinion that still lower quotations were likely, particularly in Italian ex change. Sterling and francs were close to the lowest of the week, but busi ness was at i minimum. Quotations were: I'einniid Kteiling 4.05. cables 4.00. Franc nblcs 0.00. checks 0.02. Lire cables 7.34, checks 7.30. Swiss cables 4.07, checks 5.0(1. Guilder rabies 40. checks 40. Pesetas cables 20.18, checks 20.0S. Stockholm cables 20,S5,-checks 20.05. Christiania cables .25.80, checks 25.G0. Itublc notes were nominal nt 14.20(5 14.40. Quotations for sterljng showed nn ex ceptional gain of for demand and for cables as compared with yester day's opeui'ig figures. LOCAL MINING STOCKS TONOPAH STOCKS Hid Asked '9 Jim Butler 38 .40 't MacN'amara , 7R .75 & Midway , ,42 .40 Jt, Mlrpath Ext t.1 .20-'S Montana 22 .25 4 Nor Star ..., 08 ,09 j Rexue Eula 09 .113 West End IS l!i 1 (lOLDKIELD STOCKS . Bid Aaked -4 Allflnln 05 .ndi'.-l Rlue Bull ....,-. .04 .03 ., Booth 28 .32 . Dlamf B B 03 .04 t Daisy n.t .04 rS Kewanaa 01 .07 Orn 02 ,0 -J Slher Pick 10 .12 Spearhead IS .16 MISCELLANEOUS v . ' Bid Asked ; Ariz United 23 .23 j Nev Wonder 57 .00 ' Tecopa Mln 12 .15 CHICAGO BUTTER AND EGGS rhlrago. April 12. BUTTER Receipts. 0008 tubs. Firm. Extra. 0H4 62c; flrstg. 59ii?Blr EGGS R'celpts, 37.092 cases Steadv. Firsts. 39B'40'4c-v ordinary nrsts, 381! O 38ic v 0 DIVIDENDS DECLARED Sloss-Sheffleld Steel and Iron .Coinpany, quarterly of I's. per cent on common, pay able May 10 to stock of record April 23. OPPORTUNITY A new public service enterprise offers exceptional prospects: progress made In dicates unusual returns and wide ex pansion. Investors with pluek and ambition assuredly should Invisttlgftto this project. C 214. Ledger Office. STATE BANKS AND TRUST COMPANIES NOT REPORTING! TO CLEAR- , ING HOUSE Loans. (ioia Investm'ts Cur'ncy bk notes Deposits Federal Reserve Bank of New York .... Total deposits. . Net deposits.. . Resv. on deposit Percentage of re serve . ........ Decrease, 1788.50S.500 8.232.100 10,030,400 59,430.500 815.143,100 738,502,700 128,330:700 . 19,2 $930,200 124,200: 471.400 3,764.700 1.19.1 200 I 009,400 8.061.400 .8 BANK CLEARINGS Bank clearings today compared with cor responding day last two years: lOtn. 1918. 1917. Phlla .. S59.229.578 S57.ll,228 S5S,090,055 N York 701 015,432 637,978,240 647,850,041 Boston.. 49234 84U 51 25B.447 87,8JtB,811 nyANCMR Annual Meetings r THE MEMUKHS foV TI1E miLA. ivflS delnhla Centrlbutlonshln for the Insnrnnre of Houses from Is by Tin ara notified that a general meeting of the con ?rlbutors will be etd Rt the oftTce. ,212 .South Fourth street, on Monday, the Hlh'day ot April, at Z e'rloek.ln the afternoon, to choose directors anf a treasurer. In as cordanc. "JS.JSfi&'.J'aiilTH. Secr.Lrr March 28. 1919. lr3ri TIIK JArKPON BUILDINO MIAN IfcSy AHSOnATION. 47th Annual Meet ing of the S'ockholders of tnla Association will be held TuesJay evening, April 15. 1010 at 8 o'clock, at tha N. W. Cor. 11th nnd Columbia ave. Annual Jleport ready for dlatrlhutlon. Stock In new series 48 for sale. Also election of officers for the ensuing year Also "";"pATnIf.K 8t SMITH. President. M I.. LAWRENCE. Secretary. Dividends OFFICE OF TIJE 1)N1TE OAH-ntmOVK- N. W. Cor. Broad and Arch, streets Philadelphia. March J2. 1919. The pirer.tors have this day declared a quarterly uWHend of Mf 'n (II per share), payable April IS, 1010,. ta stock holder nt record at the close of business March II. 1B19. Checks wlil be mailed. I, W. MORRIS. Treasurer, NORTHERN TRUST TO.MPANY Sixth and Spring (isrden Phltsdlephta. April 10. 1019. At a meeting of tha. Board of Directors held this day a Quarterly Dividend of Fire (ft) Per Cent was declared, psyable April IS. 1010, to stockholders nf record on the books ot the Company at the close of business April 0. 191, (jneCK m nivia?nnn win i- maiir , EilllllllllllllllllllllllllllllllllllllllllllllllHllllllllllllllllllllllllllllllllllllllllllllllll' War Finance Corporation 5 per cent Gold Bonds Dated April 1st! 1919. Due April 1st, 1920. Interest payable October and April 1st, free of Pennsylvania State Tax and Normal Income Tax. ' " i Entire capital of. the War Finance Corporation is owned by the United States Government. We solicit subscription, offered at $1000 per bond and. accrued interest. Corn Exchange National Bank I Philadelphia Chestnut at Second , William H. ourtis. P. 1 1 1 1 1 r 1 1 M 1 . 1 1 1 1 1 1 1 1 M r 1 1 1 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 8 1 1 1 T I M . 1 1 1 1 i 1 1 1 1 1 1 1 1 M I f 1 1 1 1 M r Ml 1 1 H 11 1 1 M M Wj CTtt , niBaw.. l. it, 'C J! i u . 4 '- & i J ',,' " i?'' . vW-1" r - . -i5 n-'- J&iv h ,,-v-a -
Significant historical Pennsylvania newspapers