HH1
l tj3f
rmutxM
-. ,. . .- .-- 1- ,--;-,". i---i .- 1II..H .'V '.. ..U .,T.v...c.i -.. .-7.-?7,!r.. '.":'" 7. VJJ
i
K
..
It.,'
'.
.
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r
tfr
PA
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fe.
tv.
tip
T-
h'
"
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fe.
R7
w
lr.'D.
u
fc
V
h
in-.
iv
mj
H
li
k
&i
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ws
IVj'T
,
'47'
XA,w
i
rM '
J5?'
ips-
or Facts ?
which will you take? If you will
fellow fundamental conditions
instead of paying n tip here and
a hunch there it is possible te
secure' an unusually high return
from your holdings without the
risk or worry involved in (Ordi
nary speculation.
Today's Bargains
Certain clisses-ef securities can be
had today for prices much below their
actual worth. Others en the contrary
should be let atone.
Babson's
REPORTS "
based en fundamental conditions tell
you why these bargain exist and
show you hew te take advantage of
the situation.
Tepy of recent bulletin pointing out
today s opportunity will le sent, with
out charge, te any interested Invester.
Tear Out Meme
and hand It td your secretary.
She will write the letter that
will brine this Information te
you by return mall,
Babson's Statistical Organization
Wclleslcy HUN. 82. Mai.
(Suburb of Cotten)
Th Larftt Oroi'tmlien nfttt Chamtttr
in l ll'erfa
MEMO
IRREGULAR RALLY
N THE AFTERNOON
inmmi lVlEiyll
J Fer Your Secretary
Write Reger W. It.ibsen. president of
5 Babson's Statistical Urbanization,
S Wcllesley HilK 82. Mass.. as fellows.: 5
7'lcasc send me Uoeklet Ne. .'IlilO i
-Getting the Most
from Your Meney"
m and cepv of re-
cent report
Z gratis.
aMa.aBB-aB -
First Mortgage
Bends
Te yield about
5.15 te 8
Railroad Industrial
Public Utility
Notwithstanding that
prices for bends in gen
eral have advanced ma
terially during recent
months, there are avail
able at this time a
number of very attrac
tive issues te yield lib
eral returns, some of
which we shall be
p't?ascd te bring- te your
attention upon request
Send for Bend Circular 1114
tRedmond&Ce.
Bread & Sansom Sti., Philadelphia
New Yerk Pittsburgh
Rultlmore AVnMiU.gten
iremlvrs New Yerk. Plillmlelphla ami
rittshurBh Stock n-tdmmres
I Seme of the Sting Taken Out
of Proposed Stock Trans
! fer Tax
New Yerk. Feb. 0. After liexltntlnp
, nil diirliiR the morning today' stock
iiuirKi'i nriicru up iigniii in inv imrr imrr imrr
noen niid llcleeil snrprishiK power,
pnpeelnlly In view nf tin iipparcnt weak
er teelinlcul position. The revcrsnl was
te n large extent inlhicnccd by tlie otnte etnte
incut of Ceiigrcftsmnti Fortlney, in whleh
he wild that hi HtigRestlen relntlvc te
n tux en stock transfers was niaile ns
i nn lniliviminl nmt Hheiilil net be con cen
strueted as nceuhvarlly representing tlie
. opinion of ether nieinliers of tlie ways
I ami Meant. Committee. Tlie Incident tit
j the Mime time offset the dcprepslng In
j ilnence of the reeelvernliip preceeillngH
.ni.aln.st the Columbia Ornphopheue Com Cem
1 puny.
The big ncw of course was Seerc- J
I tnrv AIMlrin'ti ntitiilt.nn..n..f (ll1t. In
, the $-100,000,000 Victory Wt per cent
J notes en June 15, This was generally
looked upon as the first ctep of tlie Ad
ministration toward the refunding of
jour short-term Mar debt, and In itself
was regarded a potent ImllMi factor.
'This, together with tlie further buoy
ant advances of leading feielgn ex
changes, failed te sustain prices in
the early dealings. Te the con
trary, there ii8 a noticeable cur
tailment of bullish activities, while
'm thu ether hand, there was evidence
of lUiitidntlen by n number of peels ami
Individual operators that have been nc
t Im In forcing .tdvnnces In numerous
t-tecks since the middle of January.
Tlie market steadied before the end of
the tiret hour under lead of Slndcbaker,
i Mexican lVtrelcuiii anil (!ulf States
Steel. I'eeplc'H Gas. and Chicago 1'ncu
untie Teel were among the less promi
nent Issues te show marked strength.
These and ether gains were cancelled
before neon, prices shading when bear.s
resumed their selling of el's, meters and
i equipments, The reaction was linstened
by news of receivership proceedings
igaiiist Columbia (irnphophene. which
te-nlted in :i decline of 3' points fir
the preferred tock te ." ' i; . a new low
iceerd.
The whole ll-t finned up In the eurl
. .I'lc-rnnen with clcli'iice of free cover-
i Ins in the meter, vipilpmrnt and some
of the utility stocks. The reprcenta-
I tivc shares continue te keep in the back
ground. In the liiuil dealings frcMi buy.
, lug movement started in the junior
railroad stocks, and s,eme of the mere
! prominent steel Ismics. Offsetting te
some extent the profit -taking else
where." 1 I ' '. ' I
Commodity Markets
Dlv,
Snl.rs In J
lnue
.100
ten
1000
(100
loe
.11)0
800
It 00
000
50ft
3100
Adams Kxnrefls . ,
. Advnnce llumcly
4 Air Reduction
. AJ.ix llubber
Alnska Jutica O M.
lllsh
14
13
31
18M
7 All-Amerlcnn 'Cables .107
4 Allied Criem Dye... H
4 Allls-ChalmerB 43H
. Am Agrle Chcm 39?
. Am Dcet Sugar SOH
4 Am n Shoe Fdy new. .
. Am Can 37 Vi
"00 7 Am Can pf DO
00 13 Am Car A Kdy 147H
130 .. Am Cotten Oil 20
00 ..AmDruffSyn 14
00 ft Am Kxpress 134V4
"O .. Am Hlde & Leather.. 1U
000 .. Am Hide & Lcnthcr pf ?
0 7 Am Ice MJi
"00 .. Am Internat Cerp.... 43
100 l Am-I.a France Ens;.. -?
4SD0 e Am I.ocemotlvo 108 U
'00 .. Am Safety Itazer.... 4
700 ..Am Ship ft Cem 8?i
H0O ..AmSmelt 43J4
000 s Am Steel Foundries.. MVx
MHO .. Am Sugar rtef tl't
700 7 Am Sugar Hof pf
?oe .. Am Sumatra 2
2100 e Am Tel ft Tel 118
300 is Am Tobacco 137 Ji
-00 fl Am Tobacco pf new.. 101
OW 12 Am Tobacco B 134
loe .. Am Waterworks H'4
tee .. Am Wnterwks 6 pf. 2?!i
1000 j Am Woolen 83?4
oe . . Am Zinc Ix-ad & Smlt 13H
laoe ,, Anaconda Copper .... 48
700 4 Asse Dry floods.... . 39i
1100 e Atch Tep & Santa Fe. I7H
100 .. AtllnntaBlrft Atlnntie 114
tee .. Atlantic Fruit 3
'-'e .. Atl Gulf tWISS,. 20U
100 . . Atl Oulf & W I S S pf 20J4
10 20 Atl Iteftnlne 98
loe 2.50 Atlantic, Pet
-DO
V00
17HJ0
U00
410
700
4010
.100
100
200
tee
290
2S0.1
400
200
inn
ion
ma
inn
nn
inn
310
3 10
(DO
lsin
62en
1910
inn
201
le:no
All!
2301
2511
'3M
ten
ll
410
1210
7210
V
. ia'
.103?i
, 30
. A3H
. si;;
. f4'j
0254
m i
-.i
.1
Spruce 8200
A Natien-Wide
Market
Liberty Bends
Victory Notes
sod
Treasury Certificates
SECl'!tlTli:S lll'I'AKTMENT
COMMERCIAL
TRUST COMPANY
Slembcr Feiler.il Crrr Sytem
City Hall Square West
GRAIN MARKET
f'lilr.ii-n. I'fli !. Tin. wlipnf nmrlcet
w.i. exceedingly ner oils in tone. Sentl- 13400
meiit. was mere mixed than of Inte anil 21)0
ninny of the recent longs were taking
' refit mid advising tlie acceptance, efi
I profits. The fact that Chlrnge has ad- I
vnneed te a shipping differenc. ever
Kansas t'ity wit regarded as bearish, n
the presuri of ca-li whrat from that
terminal 1- likeh te be felt, stocks there
being excessive, Hcrclpls ccniliinie large.
Spring and hard winter wheat void at
better price, in the local market, but red
winter was a drag, and the few sales
i were at lower level-.
Cern was easx in tone, commission
j house- accepted preht- en long corn.
There a- mere, or less pre re from
hedger-. Seme support wa- uncovered
in the dip. Exporters bought some cash
corn .here, but domestic shipping do de
iiaiid was -low.
Out- followed the trend of ether
rains. Northwest inten -ts bought curly.
'lit Armour -old en the bulge. ( a-h eat
Aute Sales Cerp
. . Aute Sales Cerp pf .
7 Baldwin locomotive
. . JJaltlmore & Ohie . . .
4 Baltimore & Ohie pr.
3 Bethlehem Steel
r. Bethlehem Steel B . .
7 Bethlehem Steel T" .
S Bethlehem Steel Se,h pflOSJ',
.. Beeth Fisheries OH
. . Brit Km Steel 1st pf . . 4
. . Brit Cm Steel 2d pf. . 22i
.. Brklyn Rapid Transit ll?i
. . Brklvn B. T ctfs of dep 0U
.. Brktyn Union Qns ... 70ft
.. Bums Bres A tH34
.. Biftis Bres B ?HJ
1 Burns Bres pr pf. . . HO
Butte Copper .V Zinc. 3J4
.. Butte & Superior Cep. 26H
Butterick 3HS
. . Cal Zinc. & Lead -I3
0 California Backing ... 7l3j
. . California Petroleum . 40
10 Canadian 1'actflc. 120M
. . Carsen Hill Mining . . 134
.. Central Leather .... 324
.. Central leather pf . &
. . C'erro-de-Pasee 33?i
0 Chandler Meters l"
4 Chesapeake & Ohie...
.. Chicago & Al'en ''H
.. Chicago & Alten pf... '
. . Chi & K Bl (new)... 1H
.. Chi & K 111 (new) pf 33
.. Chicago & Gt West.. 0?
.. Chi & Gr West pf 1U
.. Chi Mil & St P SOU
.. Chi Mil & St P pf 3"i!'
5 Chi & Northwestern.. r.7J
100
1S0II
3000
100
.-.M0
COO
ion
:no
2D0
.-00
ion
1000
2IS0O
020(1
390
100
ion
400
301)
7I0U
21111
Chi & Min St P & U. fi'J'j
7 C & Mln St P & O pf .
4 Chicago Pneu Teel. . . .
.. Chi P. I & Pac
6 Clil It I & Pac GT Pf.
. . Chile Copper
. . Chlne Copper
. Cluett ivabedy
1 Coca-Cela
. Colerado Fuel & Iren.
3 Colerado & Southern..
I Colerado S. Se 1st pf.
6 Celum Gas & Klec...
. . Celum Clruphophene .
. . Cel Grapliophene pf . .
4 Ceinput Tab Uvceiaa.
. . Consolidated Cigar . .
7 r.oiKelldnted Gas ....
.. Consolidated Textiles.
, . Continental Can
3 Cern Predui'tu Ber
83 $
(II!
Si'
7,1
17
2C?
33
471R
41H
37 !i
09 K
K
7 j
20 '4
S3',i
13
33 ;?.
1034
'ein Products lief pf. Ml',4
1300 S.SO.f.esdcn & Ce
l.-'O'
l.l.-i-
lill'l
held steady. Shipping demand wa-
slew.
Wh-at ii'i. Hi-h
v.t 1 l"j, 1 at ,
uly 1 I3t 1.1-4
Cern
May
.uly
eatu . . ,
May 4i's tf''
luh '- -'
l'erk
. i.v
1..1M
Maich 1". 12
i ut ln.ifi
llllis- , . .
Sliv t'.HT 11. "7 ti !7 1"
Jul .... . I"
rs4
oe'
1 2
1.2!!'.
i.tr.s.
tin'.
ICi
10 I
4li ,
1" 4-10.li;
10. I J
1" II.'
10 IJ
in l,-i
The
Denlile enirlty IVatiire
TERMINAL BONDS
la exiilnlneil unit lllu-t rut.-rl In our
nv ful'lr en thin nuWcc t Cepv will
be unit uiieii miucst. UeniN of il;h
eiit rutlnt-H ur.) l'steil, 1 klliiE from
" 1ft te It. 1:3
jpattifi & imtpmtg
rLANDins euiLema
15th ane Walnut-Streets
rttlaftrlpltia
Teli'pbciiie -prute tli 15-llTin
UAMiElt-
Dealers in
Investment Securities
JfcmWr A'etu Yerk and I'liiladelBhla
tltuck i-'xc'iuntic
321 Chestnut St., Philadelphia
COTTON MARKET
New Yerk. Teh. it. The cettwi mar
ket opened linn at an advame of t! te
'i4 points en a favorable showing bj tlie
English market, Improved advices front
Manchester, a broadening demand for
. 'lie spot article in the Seuth, active
' covering bv shorts, particularly from
Wall Street nnd Southern sources, anil
moderate buying by the trade.
The advances were maintained after
the Mart, and business was mere gen-
ral thun for a number of days. Liver-
100I was among the earl sellers here,
! while there also was rather heavy sell
ing fur profits by some of the elder
'engs. The Wist appeared te be adding
te long lines.
The early afternoon market rti
velnped a (inner tone en renewed de
mand from Western wire houses and
011 reports of a better spot Inquiry at
, Southern interior markets. The strength
of the stock market al-e contributed te,
the belter tone uf cotton. A Liverpool
cable- staled that Knsllsli merchants
were finding it cheaper te lever their
sale. b pMieha.es fiein the Liverpool 1
stock than bj importing from tlt 1
l-.xpert- were I'.I.S-ll bah'-, including)
"O.-ill bales te l! rent llritain. t JHT bales
Te Frame, 7-11)0 bale- te the Continent
and "i"-l bales te .lapan and l'liina.
Total for the sea-en ha- beep :;,."i''S,,"il 1
'bales cempart d itli :j,l 11 .'.-! bale.-1
i,.v tlie corresponding period la-t season. 1
Keieipts at the pert- f(,r the (lay,
are estimated til lli.twHi bales, against
10,1!1 bales a wek age: IM.Ol!! bales
n year as" and 'J1.T0I! bale- two jears
nce.
V- -1
1 Int.-
IT 1"
HI ll
1; 1
V.irch .
,It
Lit
'tieliT .
I)t.cinibpr
Trxl.it
el n 1 ! M
17 If. IT. in
17 i"' lii -7
Hi..-. I li, I-
I .", sii I -. 711
is
13 s-
fJJe.
atttPbber
cc VLiempanw
1422 S. Penn Square, Phila.
MORRIS J. ROOT
Certified Public Accountant
Lafayette Building, Philadelphia
.ti"
NEW YORK COFFEE MARKET
New Y111I1. Tib. '.'. Tne (effie fu fu
tuies markrt m ein-d steady this morn mern
nig, with prl e- iiin-iiaiiged te 'J points
luu'her, with trade ami cnimiiW-1'in
' nise. en the btl.llns "-11". tlie effeillig-
I'lllillT' from M'ljtteinl .eiilces. .March
linlds b'icl. In I'.iiiudatieu. while the
mule lisl.uu pti-iiluii- i"lleet tlie steail
'tine m tul 11 Ilia.'!'., markets.
The market wa- without .pedal
trading features at inlil-dav and price.
luT. tincliaiiged. There weie no fresh
Ih'iu nffers heie fiem l'.r.iil it ml 110 in
dications that the prliuur.t market
were any less llrm. .lelilung lieti-escim-tluiied
te icpert a llrm spot situation,
although the volume of business again
I v.as rather limited.
Prrt Clef
Martli . .
May
July . ...
1 Hptembr . ...
1 iJuctinlwr ...
3300
390
1M)')
1UII
2.100
noe
11(110
200
4)0
M0
200
r. 0
la 0
13JII
II II
noe
Si 10
tee
'.no
100
300
joe
100
U300
390
'.'00
3100
inn
230
100
400
100
209
ItiOO
100
1400
1011
S490
1O01)
11)11
10(1
111) 0
1IIJII
.1111)0
10.0
I '.M0
3 Ml
noe
400
42JO
3100
i;no
22 10
inn
3 JO
loin
3 in
IG7U0
3 'JO
;,m
tann
101
70
Oil
Kill
1011
,-iGOI)
! ,'.'J0
10 no
9110
1011
21)0
.
1.2 'j
hi'.,
inn
h0
111
211,
0J 2
61W
i Crucible Med
7 Crucible Sled pf , . . .
.. Cuban Am Sugar....
; Ciili-Amer Sugar pf.
.. Cuban Cane Sugar...
. . Cuban Cane Sugar pf
. . Davidsen Chemical . ,
rt Deere & Ce nf
U Del hack & Western. 11.1
1 Deme Mines 23
.. Duluth Se S & At..
12 Klecttie Sterage Uat
3 Kndleott-Jehnbon . .
.. Krle
.. r.rle 1st pf
. . Krle 2I pf
Fnmeui I'lnycrs U
H Ka meus rlayers 1. pr ui
4 Kedcriil Min & Smlt pf 3S?j
.. Klsl Itubber 12Ji
. . Frcepert Texas 135
8 Kislier Uedy of O pf. S3?;
3 Gen Am Tank Car. . . . MJi
,. General Asphalt 6I?4
0 General Cigar cs
8 General Electric 10 (
.. General Meters 'i
6 Gen Meters deb 67e.. 'i
,-, Goedrich B F 37 Vz
7 Goedrich B V pf I"
nmv Tlavls IHTa
. 3'i
.141
. SI
. "
. ion
. 11 U
79!
J3 jg
s
1
:u?i
?
14K2
m
as
234
3
h3t,
lOOia
7Pb
29 1 4
Granby CenFOt M & M-'.'S'j
1 Great Northern pf.. ?Vi
4 Great North Ore ctfs.
. . Guaritnname Sugar . .
. . Guantuname Sugar rls
. . Gulf Mobile & Ner
. . Gulf State Steel
, , llablrsbaw i;i Cable..
. , Hupp Motorcar
. . Hydraul.e Steel
. . Jndldhemu Hef
. . Inspiration Cen Cep..
.. Inter Cem ISng Cerp.,
,, Intcrb Cen Cerp
. . Intcrb Cen Cerp pf...
5 Int Harvester new ...
7 int llarv new pf
. . int Mer Marine
6 Int Mer Marine pf....
itrn:it Motertruck .
'7 Int Motertruck let pf. 70,
Jnteinatlen.il Nickel .. 12Qj
0 mtcrnat Mckel pi....
International Paper . .
.. Iminclble Oil Cerp...
Iren Products
.. lBland Oil
. . Jewel Tea
, . Jenes Bieh Tea
,. Kansas City Southern
,. Kansas . Gulf
TfnVHi'l' A Ce iHt pf. .
Kdly-Sprmglleld Tire, a-"
'i Kellv-SPB Tire S't pi. '''s
, . Kelney Wheel
.. Kennecett Copper ...
. . Keystone T & It
0 Ktesgn S" 8
., Lackawanna 'Steel ...
.. Luke Krle & West
.. Lake Krle & West pf.
r,si
I0I-,
13
29 !J
Vi
12S
35',
:t
113
d'
27',
10'.;
132 ,
171,
ll'2
20
Lew
7
13
33
1SH
107
mi
43
33 &
30
mi
mi
96
um
i?i
flj's
134(4
14
04J4
04
42Ji
?i
108H
4
4314
32
cm
M
2"4
H7H
134H
100?i
133
Hi
22 r
82 V,
13 K
47 H
&VA
COM
li
3
1&V
20 tj
03
22 v;
13
100V
.13 H
33
37 .
01
O'J'z
lesvj
r.i
10'f,
(i
70
11H
:ini
nr,
an
20
31
3t,i
71
47J4
123
It
32 J
C0I5
33B5
3?i
37 H
W?
14t4
33
0?a
10?
154
34'2
CO 1 i
32
S3 ',2
iit2
33 1 i
7.1
ll-1a
21!.
33
4 3i
27
te?;
3IVi
U
1U
314
C?4
20 i
SOvj
13
32 ?4
102 A
111
31 1;
i;ii9
MIJ5
IsTg
se
04
21?4
foil
01
11154
23 g
3
141
SO J
10W
1 3
I0?4
7 J V3
0 1 14
:is?i
12 W
law
siK
33 i
CO
OS
110
0
702
1i?S
S3
1SU.
2SJ4
Ma
3l?t
Ji
7I4
1W
14
3j
3!4
a
s
S3
10 VA
00 !i
r.
fill;.
12H
13 -
St -i
16S
H
107
SSV4
45 U
33 H -i-30
-
a :-
37t4
B -
147 W 7
20
014-f
134if Hi
14 M.
83H
lji-r IK
42H V
- 5i
108t-r IVi
4 4-
4-
43 Vi
32H
67 I
83
20 Ji-
ltS -
Dlv
Sulci In I
ISO , t Le Itubbcr Tire. .
100 3.50 Lehigh Valley
300
1200
100
137 IK
101 -f
134 M
8 14
22J'
83 H-r
3
23W-
20JS-
S3 -
22 i -
3 V T
I3t;i
103K
3Wt
33 V,
3SI4
4W
2Hf
10H4-
05J-
04
22,-
HH
0J4
70 ltOW-f'
30 I
IIO -r
20,
31 -
394-i-
71H
47T.
128-f
13J4 14
32 W V:
66 Ht M
3VA- H
4, I.
fi7Ji-r V
2 u - li
14
Va
V'
3
Vi
1
ty
'lK.
li
Vi'.
1 I
Ii
B
a
Hi
Hi
Mi
ti I
!i
'
114
16
ti- ;4
4.',
14 Yt
20
2!a
12,
25 54
rH
112
03
112
271-5
I0!e
rtni
47'
iilj
29
Vi -144I
33
flW-r
17H VA
204 J5
34H- ?
U7yj Hi
32 ta- ?.
8S4- H
eW i?4
33JB 5
73 -(-
ir.3i-2r',4-5-33
-f
43-W -t-
27 :
nn i-
37 !'2 1
liW
iij-
'2-
07 4
-13
-33
-103W-T
1"U-3I0-1254
-i-S0
1 2 -ISJj
80 -
2414 Vt
Cl?s 1J4
01 - u
11154-
234 1
3 -143
-
81
ie;a .
10 u 1-
11
03'j-
3SW-
H?4 .
13W -
83 5s -5-33
e4
CH
146 -;
9 -
ley2
37J4
83
1SJ4
28J.J4-74J.-5-33'.
ta
li t T
73Ji
IJi
HJ
3V6-
3S
23 )i
3
SK2
S3&4-J-
107K3-h 1
14 ..
2H -l'-"2
.
CSJ4-
4(1 ..
13 -J.
20 -f-
J4
12a .
33 W
21 -f
ew .
113
3S -5
i)3 y
82 -271j
(
41 4
112-
i
iwj
Vz
1
U.
16
A
l
y
'k;
H
'z
l-8
308
100
2200
300
nuii
7 'Lima, Locemotlvo .... (5
. Leewo Ce 11 W
1 ft Candy ,.' 10W
,. Mclntyre P Mlnea 2Yt
. MnlllntVin & Ce 18
. MnnatlXsugar 484
7 Manhattan Kiev guar. 40 a
1100 I.73 Mantiat Shirt
300 .. Market St Ilwy
hee .. Market St Rwy pr pf
40 . . Market St Itwy 2d V
2100 .. Marlln Oil
1200 . . Martin Tarry
230 .. Math Alkali
400 , Maxwell Clans B ...
12330 is Mexican Petroleum ..11714
200 Mexican Petroleum pf. 80&
200 2 Miami Cenner 28W
1408 1.20 Middle Ktates Cerp... 1214
3?i
42 J4
0
28 a
83
32 W
12H
Vz
V,i
94
A
'
W
!4
!4'
14
1
y'
3 I
i
y
Y 1
24
4
ml
M 1
14 I
V
4
14 1
Tii
!b
"-si
Vz
4
5!
is1
,?'
4i
1808
1400
1100
200
8300
1100
000
1400
700
1000
tee
100
300
23 no
tee
100
300
200
100
1000
800
300
3000
100
100
300
3300
100
300 .
3330
800
2100
1800
300
1800
300
000
3000
1000
1100
1400
8000
9:10(1
3tine
3310
100
390
100
0700
4800
400
100
3000
lne
310
noe 1
100
300
700
1300
1100
2700
200
10
. . .Miavnie htcci "',
.. Minn ft St Loul S'i
.. Me Kansan & Texas.. 3Ji
. . Me Kan ft Tex pf . . . . 3
.. Me Kan & Tex (wl).. 10 yi
.. Me Kan & T (wl) pf. 27W
.. Missouri Pacific 18Ji
. . Mo-Paclfle pf 48J4
. . .Montgomery Ward ... 14
. . Mulllns Bedy 28
. . National Acme 124
7 National Biscuit 134
.. National'Cen & Cabw. 1W .
Nat Enam & Bt 41,
7 Nat Knam & Stamp pf 90
8 Natlennl Lead 88J4
. . Nev Cen Copper 14 y,
0 N O Tex & Mcx 304
..NY Air Brake S9Ka
a New Yerk Central.... 70 W
3 New Yerk C & St L. . 81
3 N T Chi & St L 2d pf 63
.. New arerk N II ft II.. 18 J
4 X Y Shipbuilding-.... 18
. . Norfolk ft Southern.. 12
7 Norfolk ft Western... 100 W
3 North American ctfs.. 7
3 N American pf ctfs... 41
.. North Amer Bights. . 7?
7 Northern Paclfie .... 78 J4
. . Ohie Bedy & Blewer.. 114
. . Okla Pred & rtcf. ... V2
. . Orpheum Circuit 18
. . Otis Steel II i
2 Owens Bottling 28ft
n Pacific Gas ft Elee '.. 64?,
3 Pacific Oil 46J4
0 Pan-Amer Petrel .... 3.1 4
6 Pan-Amer B 47
. . Parish ft Bingham... 184
3 Pennsylvania It II... 13
. . Penn Senbeard Steel 8W
3 Peeples Gas Chicago. 70
. . Pere Marquette 32?
3 Pere Mnrquotte pf ... 60
5 Pcre Mnrq prier pf . . . 67
3 Philadelphia Ce 3.1ft
. . Phllllps-JencB 90
. . Pierco-Arrew Moter . . I3W
.. Picrcc-Arrew Met pf. 32H
Plerce Oil
8 Pierce Oil pf
r. Pitts Ceal
0 I'ltta Ceal pf
. Pills & West Va
Pend Creek Ceal....
Preened Steel Car. . .
Producers Refiner . .
Pub Sonlee of N J..
Pullman
Punta Alegre Sugar.
Pure Oil
Pure Oil 8 100ft
imiiway steel Spr pr.112
50
!l4
6216
63?.
02
24 ft
i3?
66
27
78?;
iies
37 ft
34 i
200 3.41 Hand Mines
1011
1800
200
100
100
20
Ilay Cen Cernier II ft
Heading 7.T2
Itcadlng 1st pf 40
Heading 2d pf 40
ltemlngten Typewriter 31
1230 .. Itenlnirln Klef.1
13)0 .. itepublle Iren & Steel.
'00 .. Itepublle Meters
000 0.20 1 loyal Dutch N Y....
31ft
03 Vz
3ft
30?',
10
144
23ft
100 .. lmtlund It 11 nf.
"Oil 1 St Jeseph Lead
S230 .. St Leuis San Fran.
00 . . st Leuis San Fran pf. 40'A
4400 . , St Leuis & S W n W if
3600 .. st Leuis Seuthweht pf 3SW
200 ., Savage Arms 13
100 .. Saxen Moter 24
390 ,. Seaboard Air Line... 3ft
1800 . . Seaboard Air Line pf . 8
400 .. Sears-Pveebuck 63j
000 ,. Seneca Cep Cerp 16ft
100 . . Khattiick Arizona Cerp 8
300 ,;i Shell Transport 38ft
1000 .. Sinclair Oil 19ft
100 , Sle.sH-Sheffield e
100 , , Se I'orte ltlce Sugar. . 53
3200 0 Southern Pacific S2ft
2100 .. Southern ltall 10?.
1200 . . Southern IUil pf 33?4
200 4 Standard Oil of Cal.. 04ft
400 a Standard Oil of X J. 170
400 7 Standard Oil of X J pill. 4
100 7 Stern Bres pf 100
COO 2 Stewart Warner Speed 30
100 .. Stromberg Carb 39ft
45500 7 Studebaker 304
3400 .. Submarine Beat Cem. i!l
603 .. Temter Cern & F "A"
200 . . Tenn Cep & Chcm
3000 3 Texas Ce
3100 . . Texas & Pacific
3300 2.00 Texas Gulf Sulphur.
'4
3ft
10W
43
319.
41ft
23 H
3ft I
14
ii
'
Vi
1700 1 Texts .t Pae C & O.
2300 .. Third Ae
1300 6 Tobacco Products .... 63 4
100 7 Toba.ve Products pf . 94ft
700 . . Tel St L & West ctta B 28J4
1508 . . Tel St L & W pf ctfs B 39
100O .. Trancen Oil 10
200 8 Union Bag ft Paper. . 68ft
1100 .. Union OH ,
1400 10 Union Pacific ,
400 Union Pacific pf
200 7 Union Tank Car pf
400 . . unlteil Drug
100 3.00 t'nlted Drug lbt pf . .
18ft
130ft
73
102ft
68
uy4
134
8ft
900 8 United Ftult
100 .. United Kwy Invest..
1200 .. Unlttd Itwy Incit pi 24ft
3100 6 Ui.lted ltPtnil Stores.. tOft
12100 . . U S C I P & Fdy. . . .
SOU 3 U S c I P & Fdy pf.
0903 ..US Feed Products .
2570 ..Us Ind Alcohol....
3493 ..US Realty &. Imp...
730 ..US llubber
100 8 U S llubber 1st pt,
200 3.80 U .s Smelt & lief pf..
14
lis 1
2ft 1
33600
100
3200
000
24011
100
2100
700
2100
100
11110
100
:no
100
600
000
103
70J
4'JO
390
1100
200
100
100
2JJ
1110
300
0 U S St'-el
7 1' S Steel pf
2 Utah Copper
. . Utah hec
. . Vanadium Cerp ....
, . Vu-Car Chemical pf
. , Vltadeu Inc
, , Wabash
. . Wabash pf A
. . Wabash pf U
1 Weber rft lluilbrener.
, . WeMern Maryland .
. , Wcetei n Pacific
0 Western Paclllc pf. .
7 Wet-leru Union Tel.,
4 Wi Ntliigheuse 15 & M
. . Wincing & L li
4 White Moter
Whlte Oil Cerp
".4
C2
44W
3ft
31 ft
Si 14
42 ft
S9?b
111,,
01 Ji
12 ft
33ft
67 3J
'Vz
?!4
31V,
13?4
12?i
. hft
16
52 ft
80 ft
33 ft
. ty,
38 i
'a
AVIck Si.uic Steel Cerp Id;
. a?
, S3ft
, 73
. 27 '!
,131ft
, 110
, 40
. . AVilhs-eci'land
. . Wll.uu & Ce
', AVllhen & Ce pf. . . ,
. . AVIicunsin Central .
H AVoehvortli F AV, , , ,
7 AVoeluorth F W pf.
4 AVeit hint ten l'ump.
r.x-Jildcn.t.
ft
w
Today' Nft
Lew Cleso Chge,
myi 2 y
an -f
03 -H?4
10?4
3ft
18 -
48ft 4- 1H
40ft tVi
38H ... .
4 Vi
42ft 1H
a?4-
27?
.12 H 4- ?i
32-94
12ft- W
1I0W W
80 ft .
26ft- ft
Uft-l- W
31J4 Hi
8W--
2
3
18
274
13H
28 ft
12H
134
11
41ft VA
90
8" ft
14H
'
9ft
78 54
01
63
"Ji
16 -12
-
100 ft
C9
93
11 H
10?i
19
40M
43ft
38?4
334
41
K
274
32H
.33
12 ft
114ft
89 ft
20ft
12 !i
29H
7J4
Vi
n
8tt
27 ft
18?i
48
13!i
27 ft
12ft
134
1?.
39
86
884
1414
30
39 ft
73
48 H
04
1734
16
12
100ft
36
. 41
7
78ft
11.1
Vi
13ft
JO?,
27 ?4
C.lft
45?4
32ft
46?4
13?4
34H
794
72
21?4
33j
664
:i.i?4
99
1494
29ft
9
62ft
01 ft
92
iVA
13ft
66
26 ft
78
116
37
33 ft
100
112
19?4
14
73 ft
40
49
31
30
3154
3
30ft
19
14
22 ft
39
234
36?4
13ft
34
3?4
04
C3ft
16ft
8
38
1054
40
53
82 ft
1855
31 ft
94ft
170
113
100
26 ft
30 ft
04ft
3ft
3
10?4
44?4
30?4
4394
24 ft
S6ft
63
944
23
36
rs
l8
10ft
129 ft
73
102
67?4
44ft
132 ft
8J4
3294
34 ft
23ft
60 ft
2ft
43
62ft
534
W (4
42ft
soft
1HI4
01
1294
H.'lft
7?4
7
7
21ft
1394
12ft
8ft
an
32 ft
80?4
H
7ft
CS
8?8
13
t'A
:i.lft
73
151ft
III
13ft
H
Va
"iVi
94
Vz
3
ft
94
Vz
n
J4
3
1
fi7ft 1ft
!4
94
94
14
!i
41
794
78ft
114
10?-
28J4 f
0494 46ft-f
33J4
47
194
344U
8ft-
73ft 3H
22 ft 1
37 ft 1!J
67 -f ft
334
80 -J-13
30ft
ft
92 1ft
24J4- 94
1S94 ..
ee !i
27 ' ft
7894- 54
116ft ft
3794 1?4
3494 y,
ieBft r.
112
1894
14ft 73ft
46
49 -31
-31ft
Mft-r-
ft
2
?
194
54
Vi
Vi
y
'A
Trading Quieter in General List,
With Mixed' Price
. , Changes
The continued liravincss nf Hie Pliit;
ndelphia Kleclrlc issues was once mere
en oiitftendlni; feature of fhe Jecal mar
ker. The uneasiness provoked by the
proposed oxtemlen of the debt limit from
.'(lO.One.OOO te $100,000,000 was still
In evidence enil reflected in continued
liquidation In ull issues. The common
stock suffered a further recession te
1!3 : the preferred te 2V&. while the
warrants yielded te 114 and were sold
heavily at he lower figure.
Philadelphia. Kapld Transit contin
ued te hover between 224 nnd 23, In
dicating quiet accumulation of the stock
en the part of the peel interest fireund
these rigurcR nnd an indisposition te
force the price forward. There wi
nothing new te transpire concerning the
proxy contest, hut the real fight la net
expected te take place before next week
and will continue then up te the
hour of the closing of the books.
The street was full of usual fanciful
talcs, but news, tlfat is, the real article,
was quite senrce. Meth sides for the
moment are resting en their enrs nnd
only doing n little skirmishing.
Trading was only fairly nctlve in the
general list. Yerk Itnllwnys had n
wider market, renchtng 13. On the
ether hand, dealings in the Amerlcnn
Stores Issues diminished te small pro
portions. Price? of both the common
nnd first preferred were well sustained.
Ne effort was made te renew bullish
operations in Ijchlgh Navigation, until
the afternoon when the stock was run
up tfl 70V from 00V3. Only small odd odd
lets of Klectrlc Storage Battery came
out. U. O. I. shaded under 40 te 30.
en l-enllzing, but therpreferrcd was firmly
sustained at H2U.
Bank of Nertli America warrants
were much stronger, reaching OS1), nn
overnight gain of 2-'fi points. IiOkOvRu IiOkOvRu
perler fell bnck te 0 en light sales. Brill
lest a ,2 at 37. which was te be ex
pected after yesterday's noer report.
Pennsylvania, fliiitread .continued one of
tile nrmest spots, innklng n new ngurc
at 35.
Philadelphia Stocks
94
ift
54
C0ft
19 -II
23?4
40ft-f- 1
24 94 194
38 J-13ft-
254-1-
394
74
34
16?4
s
38 -r
19K-
40 -33
8254
-04ft-176
ii' 54
100
30
39ft
8094 l'4
3ft
3 -1094
44ft-'
31 1
41
23 -
21
ft
2894 4H
39 3ft
9Ji- ft
68ft y
."li-f 54
W.z ..
73
102
67 ft
41ft
134
8ft
MJS.7
:..;4 j.
ft
!.
'l54
Va
1
54
94
1
54
1ft
Net
lllp-li Lew Cleae chsre.
"SI Am Stores Uti'j i4ij litl 1
222 de 1st pf. 127 12T 127 ..
IKOAm Gns.. r.S f.7 .." 'G
101 Am Ice. Hli M'a IM;,. ts,
lOt Am Sum. 27 Vj 27. 271..
.Ml AtrOulf.. 20VS 2,Ti5 2 Ys
lOtAni TeYr.llS:& 118's US1..
1-11) Bank N A
war w 1. O20's 02 Oa-lC'JSJ
lOtllnld I.ec.l03V, 103U 103',4-2i'l
UlfBelh Stl. 02 if. 021-. 021 A 4- it.
li va
2(l't
1111. V.
1 'h
ti linn j ii.. .11 ;n
10tC.Al&St P 2D' i eU
lOtCruclble. . 01 K 01 ij
420tCel (Iraph IVj 1 ',(,
2t)t de prel.. 7 7
2.". Elec Stei.14:iiH 113
KltKric
320teii Met.
lOtdoeilrich.
20ltlsl Oil...
132 C N A..
02;int Nick..
10 Key Tel..
340 Lake Supe
fi.i.. I, eli av
11
0
37'-;C
2VS
30Ts
12
"71
1
IV
. 1.
1-4
VI
U1
11 li -
!) it 1,4.
37vi 37 !4
2i,5 2Vs at
30l(. 30i...-
12 12 IV
.a
11
lOtMex Pet.HOii llfl',4 11041
.-itMId S O. 1211
ntMlaml .. 20
10 Penn Cent
Light pf ."0
53 1 Ta K.. 3.-1
TtPcrcMnm 2lTs
20 Ph Ins W 50
55 Ph & W. S
130 Phila Ce
cum pf.. 3S
0.".f Phila Klec 2391
11S8 de pref.. 27,l'i
4153 1I0 war w i V
11150 P H T... 23
30 Phil Tract 01
lOfPierce-Ar
prcf ... 30T;
lOtReudlng.. 73
15fSt L &
S W .. 25
10tSt I. &
lftSi T. .. !? "t
0!U,i 00 14,
-..
iV4-r- '.
12Vi
20
'4-T-18
20
50
21T's
50
S
7-"U
230s
27 ld
IVj
22?i
(U
3et;
50
34T
21T;
50
S
Vi
23?, V,
27- 14
1 Ik
23,i
04 ..
aejjii
25 2
94
94
94
54
ii
3ft
2:1
31
lii
10',.
35',..
.".Iia,
52
3
05
31
I j'a . .
a'
1
1!)i
35ie
10 "
"2'h
2Ji
33
13
33'
13
js
a;
i,?4 1ft
3
4i;i 4.
e:i
5U4 -i
9f l'A
42 ft-
9?4
111, ft
61 ft-
12 ft
33ft
6J?4i
794 t
7ft f
21 ft ,-
54
54
1
u
2ft
Va
VA
94
94
y,
54
94
31
1394
12 ft-
8ft ft
10 ft
52 ft-
89 ft .
43 ft 1ft
7ft- 94
38 - ft
0ft ft
1 3 ft ft
!4- ft
33 ft
J3 27ft
131 ft
119
43ft-
-iiTniiiiieuai.r n.r'i
lOfTex & P 31
10 Ten Bel., li
100 T.'nien Oil 1 !',..
50 Un Trac. 35 'i
587 U G I . 10
300 de pref. . 52',
10tU H Keed
Pred ... 2's
10 V .Ter & S 33
005 Yerk Uwy 13
tNet chnnee iiiRrte hj- comparison with last
gala en New Yerk Sleck Exthnnjc
rniLADEi.riiu noxes
10100 Liberty 2d 4,s '42.. lets 00.24
UOOO liberty ;id -"is 's..iets 0
1000 Liberty 3d 4'4 '2S..
800 Liberty 3d 4V,s '2S..
3700 Liberty 3d 4i',.s "JS..
500 Liberty 3d 4 Ms 2S..
101000 Liberty 4th -l',s '3S..
150 Liberty 4th 4 Ms 3S. .
0300 Liberty 4th 4'',s 'SS.
1000 Liberty 4th 4'',.s '.'tS.
.100 Liberty 4th -His '3S..
1000 Liberty 4th 4 Ms '3S.,
100 Victory ls '23
"000 Victory 4 a, 'li.'!
1000 Victory 4s '23
1000 Baldwin I.oce 1st ns....
1000 Klectrlc & People's 4s..
3000 Illinois Centra 5j
500 Phila r.tectric 1st 5s
3000 Phila K'ectrle 1st 5s.. lets
2000 Phila Klectrlc lht 5s
1000 Phila Klectrlc Ht 5s.. lets
... 07.32
... 07.10
... 07.28
... 07.20
lets 00.30
... 00.10
....00.20
....00.42
... 00.22
leg 00.10
...100.00
...100.08
...100.10
100
04 a;
H84
OS
07
00 i,i
li
54
1
54
!4
194
54
MONEY-LENDING RATES
BANK CLEARINGS
vi-ti- MiiiK.Meney nn rail. Iwth c!asH..n . Hank clenrlnm today, cenipurd hIUi rut-
.1 , . ii.rul op.'ii"! tK'lay t l""r t!!nl ler I rni.unllnr day lust le yearH:
il all' ielltf.ill.1
, . v , , a nmt ten.' in 1I10 tune inenp il'lnlu .
ivlity raf. '' "te UI.VIIIIKCU HI . t 1 . 1 .
. ni fjr nil jii.iturltlfB 't'n uluim. ctileune,
1 tiuim uf kentlcil within iMnun
h. "1171
s i 7 111 1
s i;ii0 TO
(is
ripen
s till Q 71
m 7."'i 73
S flUf 71
s'.SifKO
VF Ptaawlvnnlu Itullrwid I'iulp.U'- 11131 te 11M3
V: J, ,Itiilt..bl liluinin.il.nc (I.ih l-Kt. le.5' lu.'rt
i; V fMumuru linn a r.irtinv uuiihiiij , ,u iu;ij
'M f tBrS SnrUiitUld Wattr Ce ,.V lDJR
hM' l'lrhr I'tnuriny. . li 1UI2
JEL K. PHILUPS & CO.
bl Hlerk Kurbanti
Extra by Eastman Kodak
I i..r'
t , 1
r 1
itui'i ..
V 1 l.inurcH Ij ll r uni'tinnKi'd lit u ills
..'mi 1 all- i.t I tJ ll4 I" r e. nt. The market
i.i 11 prenini'-'t n tu'10 t'f In.'aulurlly. Imi
ihi r- win ''ry IUil- uunlai'm triiitteil in
h li.'l in-rlmt. Thin " the result of th.
.ii'mral vly hlcn ii.-ieut iai ebiainlnu'
:. . a. I fuiut".
I'llll.Uir.lTlll.V ''lh '.1l',r emt: time,
-.t,. ',,-, 1, p.ir leni iiitiimeriltl paper, tliree
l0 .' i.mnihs. "'j ,'"',i i"i f'.
I (IMK).N M, 111 ' i dueled nt 2 per cent.
, In-', i.ut ratea. short lillli. :t' per icnt.
U.r menttu bll.H ."I't per rem
in2'' 11121
7i,oeii,nnn ii7.in'i.Nit
6ha.rtoe.oon 51ti.atin.5r.'
. 7'.. 100,000 77. -Wl. ')!'.!
DIVIDENDS DECLARED
Unlteil Htatcj Oipiura Cenipanv. quarterly
of 1 p.r cent en common and ii i .-.
i,."i,.i.. I n preferred, both payahle March :tl m ..i.
llnll'lay 01 receru jiiurtn in
lU'.'O
RAILROAD EARNINGS
CHICAGO ANI AIrtlN
lllJl
llMcmMr re 2. J:J-?-JI
N t eper. Incem . Sal.lhj
Tneu menttm' Krerni 31,04U,'Jeli
Net uper. Incema.. S.Ul.uui
Utcrcdise.
ar.-,!Hii
HTI..123
It.d.M
L'u teil fi-rnir HtereH Company, quarterly
of li per emit en prcferre.I, paVuble "larch
IT, iu Bleck of r.cen.. r.biiiaiy aS. uerc"
Laiiaten Jlonetjpo .Muclilne Ceiniumy,
quurterly. IV4 P"r cent, pajuble I'Vbrun y 2&
tu etoeK of record 1'ubruaiy 1H,
l-'if.en l'acinr, iiuarterly, a 14 ,,er e'ent en
common, and eeml-Hiuiuat : per icnt en pie
ferrei. both payubj,. April I U MeJlt of
record March 1,
Keuthern l'acltV' iuarteily ,t 5 a5ttbu
April 1 te "toeK uf record rebruary as.
ua Pbllaelehb
&&&&&
Uoeheelrr, . V,, l'eb II --iiiiHtinan KiuI.ik
Cnnipriny liai Ueliirei an txtra dl lil-nl of
7 Mi per cent tr 'bu (oininen In mlilllien te
the retrular qumicrly Ulvldeiid of a'j per
irnt. itegular imailerly of fii per 1 nt mi
preferred dividend wu also declared. All
Paris Bourse Irregular
I'iirlk, I'll., tl. I'rl" moved Irreffulaily en
tin. Heurae lelay Thrre i 1 tent rimten,
57 franei l'0 ftntlmea: exchange, en Londen.
50 friinrH 511 cenllmeK, A per cent lean, 1
dividend! nre payable. April US In "lock nf,. fmnci US centime. The dollar waa quota
record April i, 'at 11 fiuiits .'.1 ieiitni9S
Liverpool Cotten
Liverpool, reb. 0. There a u. 1-etier de
mand for pet retten leday and an Imprmed
tiuslneaa win done w'th prices firm en tha
bftHU of nn ailvance of Uf iwlntii for mid
llliv at t'.'llil. Ttm aaleii were Minn bal"K.
The recelptH were i.'imO lialet, Includins 1I0O
IkiIch American. KirtureB wtrn meady In the
t'arly dealhiKH. Bptit piicea were; Ameri
can, mldrtllnit fa'r. 11.7 Id: Kueil mtddlliiir,
le.aad; lully, uilddlln. u.uud, mlddllnu,
li.ntcli law inlcldltnv. ft.fuaj uoed ordinary,
T.llld. and eidlnary 0.7-Jd, ,,j,
New
; Movements of Vessels
1 v "WTRv1"? "'. ,!1'7:.A"!.M. J ,'
lire-men, , 1 eb. S SallMi Hetterdam. Ib,
7i Noerdam, .New Yorki Hudsen, New Verli.
BAR, 8ILVER
18000 Phila Klectrlc 0s lets 102
STERLING HITS NEW HIGH
Exchange Market Streng Based en
Heavy Buying In Europe
New Yerk, l'eb. 0. The opening for fer
elRti t'xcliiinRC market this morning was
exceptionally Mrent;, Iargelv based upon
Heavy bnyinB in Europe. The quotation
for htcVllnc hheweil that exchange at 11
new high I'er the movement.
In the early nfternoen. the Kuronenn
exchanges caned elT in tlie trailing from
I lie nigti points iiiiiewing the opening.
Sterling cables were diluted nt l.itT. iln.
mand 4,'MVi ; fraiie cables H.IKI. checUs
8.02; llelglati enhies S.'-M. checkrt 8,2.1
lire cables -LiHiia. cheeks -LOO; marks
,r',4.
Central Eiirpean exchangew were lr
regular. (Jiintatlnn were: Greek
l.r.:t; Iliiiigarlnii, .10; llnlgarlan, .70
Huinanlaii, .81'fcj Serbbin, 1131,'
rzecho-Slevaklatt. 1.014; Austrian'
.03; PellHh. .Ill,; Finnish. 2.01.
'1 he rate of premium n Montreal to
day 011 New Yerk funds wan -lO-K) per
cent. 'I he rate of dii-cniiiit en (.'ana
dtan funds In New -Yerk was 4 per
YKHTIHIDAVH CLOSING QUOTATIONS
Demand ... T hW llV
Cables UMj S.U0 4:u3 ' iVA
TODAY'S ()I-i:NIN(I urOTATIONH '
' ' 4" St' S'ti i'8Il '"J:'
4. .1U Jt.71 I, OH 37.18
NOO.V QUOTATIONS
Demesila bar nliyer ivan mic hanscd In New
Yok.leiUy.attt'Ju Mr J 110 ounce) I feralin
i)Hcj nn aclranee of.-He. . in KVlen fl?,'.
viUvJ't
. . :: - - 1 ; m iiim-i i n if inniirn 'iniin it h ji ' h u
- ... . ..!. mt 1 tn 1 wrtlfi II IVVIILV ni'niM III . '" "
NEW YORK. STOCK t-ACttAINlili I KAINSAiiua r A. lOOULO hUlWW
- "
rrAn'm Vri I tilt
Cirv .nubberTlre "SU ' M LUUHLVX WW
2U UllULIl I IILUUUIll-
u .
Demand
Cables
Te .HdMn of AdJuitmit MertfltM Svn P
CumuIaUr. Geld Bends of THE DENVER AJ51
RIO GRANDE RAILROAD COMPANY J
under the Adjuatnrant Mortgafe of Mid Cemw
. diMdMiyl, 1912:
Helder X Four Per Cent Ten-Yeer Secured New
of THE WESTERN PACIFIC . RAILROAD COR.
DftS A TVf1if f-.-. -! .. L. .. 4 n 1 J. k
rwnnuvn wauvu iwwkf w "I'mawn mm fci
' UctObv 1 1V20I ) ' ' .
Referring te the Plan of ReorganfiatJen of The Denver m !
Kte uranae naureaa company aaicavauil'J "i '""i wnicnnM-'j
lirfn acrrirt iinnn hetween thia'Coreorition and the Commit!
representingr the holder of First and Refunding Mortgage BemUT'
of The Denver and Rie Grande Railroad Company, this Cerpera, 'j 'j
tien announce that: -1 v
In the Plan agreed upon there was reserved te this Corporation '-,
the privilege of offering te lieiners et Aajusiment eenas el Th :'
nntei. anrl Pin ClranAe RallrftaH Cemnanv W110 el.Ct te DkHleL,.
pate in the Plan the right, In the event that the Plan Is carried out,
te receive i- xehange for each AtfjutmBt lond'ef .A h'
amount of 1,000 (and proportionately ter epmu or eui-r nml
nations)! . j
mnn (... ..... 4 .( !... KC tln1ilr Puni Bnnl nf l .. 'f
TVW ihi auuvuut, uw w,v . - -- .- pis.
peied Raerganiaad Company, te ba Usuad aa prerMH h -
aid Plan; 1
4500, par valua, of the 7 Cumulat've Preferred Stock of UmJ
Reerganised Company, se te be imum)
Sinking Fund Bends and Preferred Stock, (50 of each), 4M A
in avcrarala faea value te the interest upon the Adhut. ! i
meat Bends accrued and unpaid at the date aa el which
interest and dividends begin te accrue upon, such SiaUag
Fund Bends and Preferred Stock.
The foregoing is the utmost which under said. Plan this Corpe. 'I
ration has tlie power te ener or wnicn, can uc eucrcu iu neiaers
of Adjustment Bends. ,
The Western Pacific Railroad Corporation hereby offer te
sueh holders of Adjustment Bends aa desire te participate la Dm
said Plan the privilege of se doing upon the baste (of 'particlpatiea
above atated. nrevtdcd that en or before. March ! 1922. or sueh
later date as hereafter may br fixed pursuant "te the Deposit Agree l
inent referred te below tlicy deposit tneir oenas, witn the
October 1, 1921, coupons and all subsequently maturing coupons
attadhed. tinder said Dcnesit Agreement with the Deoesltarv
named therein, The Equitable Trust Company of New Yerk.
37 Wall Street, New Yerk uty. neiaers ei oena se deposited
will thereby become bound by and will lie entitled te the benefits
of said Plan and said Deposit Agreement Upen the bails of
participation abefc-stated, and in the event that the Plan shall net
be carried out will be entitled te the return of their bends in
cither event without expense or charge, all expenses and charges
te be borne by this Corporation. The Equitable Trust Company
of New Yerk will issue appropriate transferable deposit receipts
te represent the bends deposited, respectively. .
An arrangement has been made with The Equitable Trust Com
pany of New Yerk (which also is Trustee under the Trust
Agreement mentioned below) te cause the proceedings which
arc te be taken for the purpose of creating the new securities
contemplated by the. Plan and the mortgages securing the same,
as well as the form of such securities and mortgages, and all
matters affecting the validity thereof, te be examined by counsel
in the exclusive interest of the holders of Adjustment Bends, te
the end that, in the event that the Plan shall be carried into
effect, holders of Adjustment Bends may receive the securities
celitemblatcd by the Plan.
The Western Pacific Railroad Corporation, which is the J
owner of a majority ($S,ls,WJ out et $iu,uw,uwj of the out
standing Adjustment Bends, has agreed in the event that the
Plan is carried into effect, te exchange the bends owned by it,
which arc deposited under a Trust Agreement securing this Cen
po'ratien's Feiir Per Cent. Ten Year Secured Notes (but with
the privilege of withdrawal upon substitution of the securities
of a Reorganized Company), upon t'.e same terms which are
accorded te ether Adjustment Bondholders.
In the event that the above-mentioned Plan of Reorganisatien
shall become operative as provided therein, the holder of the
Four Per Cent. Ten Year Secured Nete of this Corporation
will be offered the privilege of converting their notes, if and
when the Plan is carried into effect, into Sinking Fund Bends
and T7e Cumulative Preferred Stock of the Reorganized Coin
pany upon the same terms which would have been available te
them .had they retained the Adjustment Bends which were ex
changed for the notes which they new held. ' ".
Copies of the Plan of Reorganization and of the Deposit Agree
ment above referred te may be obtained upon application te
The Equitable Trust Company of New Yerk.
New Yerk, February 7, 1922.
The Western Pacific RaHreed Corporation,
By ALVIN W. KRECH,
Chairman of the Beard, t
Millions of Acres
Vast company holdings challenge the
imagination. They contain untold possi
bilities of discovery and development.
Of the companies represented en the-New
Yerk Curb Exchange, one company alone
has acreage exceeding that of Massachusetts,
Delaware and Rhede Island combined.
Several control properties larger than a
single State.
Many companies whose assets at first seemed
mainly immense undeveloped properties
have later made these holdings sources et
wealth for their stockholders.
i
As "information headquarters" for Mecks
traded en the New Yerk Curb Exchange
Jenes &. Baker distribute news bulletins,
printed reports, quotations, and informa
tive booklets.
The quality of the service rendered by this broker'
age organization is reflected In the ftct that nearly
40 of their new customers are introduced by old
customers.
Send for
without obligation, an informative booklet
en the New Yerk Curb Exchange and
ask about the stocks that interest you
Philadelphia Office
WbUatr Building
TtUphenttt
Bell. . . Locum 47)0
Kenten Rae 5MI
Baltimore Office
433 Eqnltmbl. Building
Tc!jlKm! FUuStil
Jenes &. Baker
Memten NtwYeth Curb Mark
Dlrtet Private Wins
Nc Tark Ckktn Mh rfclkMakh
rituiarib Dnr.lt Bahfaatn ClwaUa.
Dcmanil
C'uMei
htc'VE 'V.','?8 Ure OullUr
4.U7U
hill
N.IH li
N. Y. 'Change Clessd Next Monday
V... V-.-.. via. ja, a - . j
Nrw
Will l0 de;
nn. B.-rrhn bi. n..t
Mw..fn iVlruiify 18' -
'OWl SEIIVICKH AIU: AN INVESTMENT ffQf AS BXrBNBB
I'HONK OKOKOE 8. IWIk
.mti.ni et. .
. I i J
M n -nn.-. . .. -?
m. it. BAlCHLtK & ASSUClAil-d
ACCOUNTANTS AND AUDITORS 1
INCOME TA CONSULTANTS
FINANCE BU1LDJNG PHILADELf
. .A. . . . A
REAL iSfhirllJavlJi itekLVri,1,.prtI",nt of Acoeuntln.'AutU'
M ,her-Blnir lloekkaaplng Byittma and Cert SteUie,..- J.,'., j
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