ft?. ,"jj iff mSmmm j.it j .(" i'-7jf. ' at"rii"aB. -T ".L"1rtt((--1 .r Va-LI IIMtlll UPWSI 'JWFP" r wwfl uMiytMi W ? "i7X . Vt"3l lVf I fl&7 R ter- i,n w v l ft.. jn Bf I? ; Eft -.x lV rt IV- i"" , b. 19' . 'TiAf KYJ IVr kJVAf-.r r, - -1 KPV V ! IS tt-f.p , '.JIT'S' rtrt ma. ze.. tt r, " " EVENING PUBLIC LEDGER-PHILApELPHlA, FRIDAY, MARKET DISPLAYED WEI E IIANCE Argentine Government 57e Geld Lean of 1909 Due MS Cumulatlve Slnklns Fund Miitlclent te redeem en tire Usue bj maturity. I'rlnelpii nnJ Interest payable In U. S. dollars, or pound., sterllnu at fixed rates of pxchans. (C20 denominations) Trcc iitelitlntt about 6.50 TheNatienal City Company Philadelphia 1417 Chettnut St. AtlaatJ City Cheliente Stock 1223 BeravUt French Railroad Bends for Investment We offer' at the market the 6 bends of the Midi Railroad and the 6 bends of the Paris Orleans Railroad two of the most important transportation systems in Europe. Under agreements con firmed by law, principal and interest of both issues are secured te the com panies by the guarantee of the French Govern ment. Investors owning these bends receive the full benefit of every im provement in French Ex change. Price and Circular en Request Hemphill, Noyes Cfe Ce. Membf New Yerk Stock Bxehanfr Franklin Bk. Bldg., Philadelphia Mew Yerk Bosten Scraate Albacv ayracuee Baltimore Studebaker Jacked te New High, Carrying Other Mo Me eors With It NEW YORK STOCK EXCHANGE TRANSACTIONS New Yerk, March 121. While price movement was ngnln unsettled nml Ir regular today' stock market gave n 'cry convincing exhibition of its in-u-rt-nt Htrengtli. Ilesliles rilxplnylng ln t easing reelitimce te the tactics of the eactlennry clement It llkewlre disclosed ltimlstnknblc reciincratlv jiewer. Tlieri) vcre, however, both strong and heavy petts and tit Interval, the trend of the Haiti body of stocks vwis reactionary, hut the recessions were net followed by frHi selling, en the contrary, advan tage apparently was taken of tin de cline te reduce eutiitmulliic slieit com mitment. itenmptlen of the strong- ' arm methods of the spcculntie com- , till atiens was evidenced In .cutterlng j pans of the INt. mere conspicuous per haps In Studebaker. which was jammed up te a new high record In face of wavering tendency et the general mar ket. One of the mere conspicuous out- standing developments of the day was 1 lelatlve indifference with which the , news of the paage of the Soldiers neniiH Hill was received. Tliut event. . hewevei, had been quite generally mi- Mlclpated and In cotisemience wa alrcadv discounted. Furthermore, in ihe oulnlen of the Street, the bill has' still a long and hard journey te make through the Senntn and the White Heuse before it is placed en the statute i books. leslbly an offsetting Influence I was derived from the prospective adop tion of the Four-Power Treaty by the ' Senate tedav. Ne one seemed te be par- ' ticularly disturbed ever German., s nbnndenmcnt of the proposed com pulsory tux. . , Reports that a merger of several et , rlie secondary railroads of the Middle 1 West Is contemplated imparted strength te the issues Immediately affected, but j the same stocks subsequently, run off muilu en the denial of the merger story. The most of the rails continued dull nml I irreeulnr. The peer Southern 1'nelfic , Februurv statement, coming en the top I of the Northern Pacific Incident, could be expected te keep tlie rnn ir wiu time being In the background. The successful jacking up of Snide i.,ur tn mil whirl: annarentl.v wa accemp'ished with little stock, had u ; strenglhenlng eiiecr en an iw ""!"'1 and meter accessories. Kelse, u heel, Hesch Magneto and Stromberg being particularly prominent. On the ether baud, the sugur and paper Issues were unite henvy. Special Service in Ohie Securities Members New Yerk Bosten Cleveland Detroit Chicago Stock Exchanges N. Y. Cotten Exchange Chicago Beard of Trade Extensive Private Wire System OTIS & CO. Cleveland New Yerk, Bosten, Detroit, Cincinnati, Columbus, Teledo, Akren, Youngs town, Dayton, Denver, Colerado Springs Commodity Markets GRAIN MARKET Chicago. March 24. Wheat started c higher te '40 lower for May, and unchanged te He lower for July. Trade was mixed, with influential commission house en both sides. Cern started He te -e higher for Mav and unchanged te c higher for .Tufv. Commission houses had liberal buying orders, while selling wus scat- tcreilt Oats opened unchanged te 1'se higher, with some geed commission house buy. Previsions started unchanged te n shade lower for lard. Tiade wu-, slew. Y.st. Tcta h Wliml- cles . iMiy l.li iJuly 1 IT1 Sept Cern .,, July -" lsrt Ma .... 3.1 (July . 3s ' sept lte May . . I Lard May . I'M" .St-H ..n&. IT I 1 .tjv. ?i.aia. i.seV I 1 17 1.17'4 1 10'i J. l'l4 1.104 Mi'-j 'a, 111.-4 01', a.i'i ft :is 'u an l.H'J1 in .12 Q 11. is BO'i Sd'4 3S" r.T III1! 3.1 1 en; Dlv. Sal In I STOCK lllch 200 .. Adama Exerets ... 66 . . Advance Rumely... S 3 Advance Rumely pf. 4614 .. Ajnx Rubber ISft .. Alaska Ueld Mine. . 63 H 4 Allied Chem A Dye. 63 K 7 Allied Chem ft D pft09U 4 Allls-Chalmers .... 44 U . . Am Affric Chem . . . . 38 1 . . Am Beet Sut-ar.... 40H . . Am Besch Mapiete. 4314 .. Am Can SH 7 AmCanpf 101 H 7 Am Car & Fdy Pf . ''8 .. Am Chicle 10 .. Am Cotten Oil 24 . . Am Drunr Syn 6 8 Am l'xprcss 133)4 .. Am Hide Leather. 14 .. Am Hide & Leath pf 68V4 7 Am Ice 111 .. AmlntcrnatCerp... 43j 1 Am-Ln Prance Enft". 11 '4 .. Am Linseed ?3 6 Am Locomotive.... 1 07 H 4 Am Itndloter 6514 .. Am Safety Rasor.. 714 .. Am Ship A Cem.... 14 .. Am Smelt 5154 7 Am Smelt pf 3 Am Steel Foundries 36Ji .. Am Susjar Ref 70 7 Am Sugar Ret pf.. 9714 . . Am Sumatra 32 C Am Tel & Cable. . . . 624 9 Am Tel & Tel 1?0W 12 Am Tobacco '3S., 12 Am Tobacco B....133J4 .. Am Waterworks... 11 .. Am Watrwks 0 pf 28 ? 7 Am Watrwks 7 pf 79 7 Am Woolen P614 .. Am Zinc Ld & S pf 37 h .. Anaconda Copper.. 51 .. Ann Arber 20 JS .. Ann Arber pf 5 4 Ase Dry Goods.... E3H 6 Atch Tep & San Fe 9614 .. Atlan Blr & Atlantle 2W 7 Atlantic Coast Line 9014 .. Atlantic Fruit 3H .. Atl Gulf & W I S S 28 .. Atlas Tack Cerp... 20H .. Austin Nicholas.... 25 !4 7 Baldwin Locomotive 107 14 .. Baltimore & Ohie.. 38 .. Batepll.iR Mining... Hi 7 Beechnut pf 101 5 Bethlehem Steel.... 63 E Beth Steel B 69 J- 7 Beth Steel 7 pf . . 91 .. Bklyn Rapid Transit 179 .. Bkln R T ctfs of dep 1614 .. Brklyn Union Qas. . SO 2 Burns Bres B 41 ',4 .. Butte Copper & Kine 6 .. Butte & Sup Cep... 25 .. Cadde Cen O & R.. 12 0 California Packing. 75?a .. California Petrel... 5U4 7 California Petrel P 80 10 Canadian Pacific. .. 135U .. Callahan 'ttnc & Ld 65-? .. Carsen Hill Mlnlnc. 15 .. Central Leather ... 36U .. Central Leather pf. 7014 .. Cerre-de-Pasco .... 24 .. Certaln-teed Pred.. 47 6 Chandler Meters ... 73 4 Chesapeake ft Ohie 60 JS .. Chicago & Alten.. 6 .. Chicago ft Alten pf 12 .. Chi & E III (new).. 22 .. Chi ft Bill (new) pf 42 .. Chicago ft Gt West. 8 . . Chi & Gr West pf. . 1914 .. Chi Mil ft St P.... 22 .. Chi Mil St Ppf.. 3714 5 Chi ft Northwestern 69 4 Chicago Pneu Teel 67 .. Chi RI& Pac 40J4 6 Chi R I & Pac 0 pf 78 J4 .. Chi StPMtO,. 60 .. Chile Ceprsr 17 i .. Chlne Copper 27 V- 4 Coca-Cela "Bfr .. Cole Fuel & Iren.. 2914 3 Colerado ft Southern 47 G Celum Gas ft Elec. 8254 .. Celum Graphophens 354 .. Consel Dla Ins V 7 Consolidated Gas.. 108 .. Consel Textiles.... 13 r-nntlnental Can.. . . 62 H 4 Cern Products Ref. 10454 100 100 1070 100 1700 100 300 100 600 1830 500 200 100 100 200 300 100 500 530 340 13 JO 100 230 200 100 100 700 400 100 9800 4230 100 100 100 300 200 200 600 203 10J 300 100 3400 3600 U300 500 400 200 100 400 503 700 300 3500 200 200 100 930 7530 100 4500 2700 100 1100 400 300 400 100 900 100 800 1000 1100 1100 800 200 200 2800 700 2600 800 1000 400 600 500 500 2400 1200 200 2800 100 100 3800 300 8300 200 400 2100 1300 200 200 400 100 500 1100 2H Cosden ft Ce. MISSOURI PACIFIC Railroad Company 1st and Refunding Mortgage 6 Geld Bends Series "D" Due Feb. 1, 1949 Redeemable as a whole at 107 'i Price 98-M and Interest Yielding 6.(0 Edward Lewber Stokes & Ce. 20 Seuth 15th Street PHILADELPHIA , Lecuit 0345 COTTON MARKET , New Yerk. March -4. Heavj no- 1 tiees depressed the near mouths at the opening today, first prices showing losses of - te 13 points. March tenders by seven spot tlrms totaled 211,000 bales. This cotton went into the hands 'of the big longs, who have accepted something like .", OIM) bales this month. I The market later showed a recovery 10 about the eIelii2 levels of jesterilay. I Liverpool mm kit cables were dlsup I pointing, and foreign exchange wus ' easier, but Manchester continued te 1 send optimistic reports en th textile , market, and Liverpool was 11 bujer lierc. New Orleans was a seller euilj. 1 Wall Street bought. Receipts ut the ports for the day are estimated at 13,000 bales, egalnst L'3, I :;(!2 bales a week age. 11.731! bales u I year age ami i!0, 110 bales two eurs "g"- ... I'rev ries I'tninc 1 V l Public Utility Preferred Stocks Preetnt trend et the lm'stment market Indicates Wiftier price. We call nttei Hen te a stock which has back et It large multles. Re'iulrements for pa merit et dividends earned mers than lit teen times In 10-1. Ath for Circular D HENRY L. D0HERTY & CO. 604 Merris Bldg., Philadelphia M.. . . July Htccmbr Jntuary i. 17.H-I 17 !M 1.. sil 1 77 in ,:. ' Mi 17 is 111 se 1.1 7J 10 11.; 17 17 1!,1 ' 10 S.I Sierra & San Francisce Power 2d s, 1949 Tennessee Power 5s, 1962 Arthur C. Richards & Ce. J'rUafe Telephone te Sew Yerk ' Drexel Huilding 1111, Lem. 7030. KriHtenr. Muln 0711 Liverpool Cotten I.ltrrpoel. M in h 13 - A a-nod business win j dm In Wt cutten tednj lth prlees easier or the basis ut a decline of la points for ' middling at 10 iltM The sulfa were 10,000 i bale". The rettdpts wre 14.000 bales, of which lU.UOO lialen were American t'utures were quiet In the early dialings. Spot prices I were: Amcrlran. middling- fulr, 12. Hd: croed n- ddllnB. '11H1 full- nilildllna-. lO.sad iindil'lnn. 1. i'd I w mid lllnif. 70d Knod rdlnary, S iMd rdlnary, fi 1 Id. NEW YORK COFFEE MARKET New iirh, March -I The coffee i market opened 3 te !i points higher this morning as a lesult et the sharp ad ance at Kin nml the upturn in the Kie exchange rate en Londen, while the dollar inte declined. An active business was reported in spot coffee ut full prices. .May . July , . .. . ' pternbr . I lJccembr . 35H Crucible Steel 56 .. Cuban Am Sugar. . . 23 . Cuban Cane Sugar. 155i .. Cuban Cane Sug pf 35 .. Davisen Chemical.. 56 6 Del Lack & Western 114 8 Detroit Edisen ....108 54 1 Dome Mines 28 10 Eastman Kodak... 725 .. Elk Hern Ceal 2054 .. Erie ;1v4 .. Erie 1st pf 18 G Endlcott-Jehnson .. 82 y 8 Famous Players L. . 7914 S Famous Players pf. 93 Flsk Ruhber 1654 10 Fisher Bedy 10254 Freeport Tc jens . . . . 1 7 " ' Gasten Wms & WIG ? " General Asnhalt... 59 54 'e General Cigar..... 68 7 General Cigar deb pf 99 U t General Electric. ... 154 General Meters.... 10 'c Gen Meters deb 6 75 7 Gen Meters deb 7 88 J4 Goedrich B F 39 7 Goedrich B F pf... 84 Granby Cen M & M 27 V Great Northern pf. 72 ? 4 Great North Ore ctfB 35 H Guantanamo Sugar. 12 54 ' ' Gulf Meb & Ner pf 26 " Gulf State Steel.... 72 " Hendee Mfg 1854 .. Housten Oil 74 Hupp Motorcar.... 5U '.'. Hydraulic Steel 8 54 7 Illinois Central 101 Indlahema Ref 3 Inspiration Cen Cep 40 . . Interb con Cerp. ... 3 Interb Cen Cerp pf 8JS ' ' Int Agrlcul Cerp pf 39 . n, Tnt Pement 3Jys ,600 2 inter Comb Eng.... 25 K u ini niu"" ..".. --;- Int Mer Marine.... 1554 '6 Int Mer Marine pf.. 70TJ Intemat Motertruck 3554 "7 Int Motertrck lBt pf 77 7 Int Motertrck 2d pf 67 International Nickel 1654 C Intemat Nickel pf. 72 International Paper 554 1200 2200 6100 4200 900 200 1200 1500 10 5000 1400 330 5 30 1730 200 1730 300 10C0 230 6103 100 103 100 5300 100 100 100 100 GOO 700 100 100 100 GOO 100 200 200 1200 100 GOO 100 2700 2300 300 Pre CleK, .. Ii SlfflUH .. !' ST 01 h .. (I 11 if 13 . V 1IV1.1 Open li IU'hSS 1 -."? :n f. II1W17 !i 170-10 Safe Bends for Investment Halsey, Stuart & Ce. Inc. LaarfTkfeBldc. TsfayJUw Leaul 7410 C. b. PA 1 1 UN & CO. IU tllKMM'T HTd. BANKERS Hnrerssera te PAI1.FR KTKKNON Benits mt stneks hentht an Mli Memhers TMIa Htnek Ftehsnw. DIVIDENDS DECLARED 1 lined lttinltl' Company extra 1 ar i.nt, bHldn- monthly .1 per cent. ' U V lle.nh a Ce itunrterly J'i ,ir cent nn prferr. d. payable April 1 ti sleck of riTQirt Mirch iT I'ltimdUn Woolen Curnpan. iuart-rly ii ler rent en pirferred. rajable April 1 te htnek of record March '.'s, N.tshui Miinufacturlnsr Company, quar terly l' 1 r cent en preferred, pit) able April 1 10 Hteck of record March a I ueperai lire ami iiuener 1 empny. quar terly l1 Per rent crti prefetred pajable April 1 te stock of recerj March ae Standard Textile Predui Is Crmpany quar terly 1 per cent en A und II preferred i-hures, luyable April 14, I'nltcd IJruir Cuinpiny. quarterly ST'fcr en first preferred, pa) able May 1 te ste.lt of record April 1." CeKilvn Oimpanj quarterly fll'c. pay uble May 1 te stork of record April a. West l'enn Power Company, quarterly 1 J per '-cut en preferred pajable .May 1 te clock of record April IS. Reserve Banks' Discount Rates Official rediscount ratcn at the twele Ted oral Heserve banks are &h fellows; Treae. Lib, Oem'l Ultra. ctrs eunds, paper, actept. 100 100 B30 400 100 200 6930 300 2100 1100 2230 100 14600 100 100 103 2 600 2600 1200 1600 900 100 100 100 100 100 800 r. inter PaDer nf Rtpd 61 Invincible Oil Cerp 17S ." Iren Products 28 54 . Island Oil H4 . Jewel Tea 19 , Jenca Bres Tea.... 38 . Kan City Southern. 25 54 . Kansas & Gulf 4J4 . Kelly-Spg Tire 3J1 . Kelsey Wheel 99 . Kennecett Copper..' 2954 , . Keystone T & R.... 18 6 Kresge S S 13554 . Lackawanna Steel.. 47 . Laclede Gas of St Li 61 54 ,. Lake Erie ft West.. 17 , . Lake Erie & W pf. 33 54 " T.e.. Rubber Tire... 33 54 100 S Lehigh Valley 58 100 12 Llggttt ft Myers...161 Lew 66 15 4614 1654 62 H 6214 10954 44 V4 38 4014 41V4 4414 10154 118 10 2474 6 1334 14 6854 109 t2H 1114 33J4 107T4 8514 754 13T4 5154 96 35K 6854 9754 32 6254 120 135 133 1054 2814 79 H654 3754 50 19H 49 34 96 214 90(4 354 28 20 2554 106 37 154 101 C2H 63 91 161, 15i SO 41 !4 6 25 Y 12 75 50 H SO 135 6 54 15 35 70 34 46 7254 6014 654 1254 22 42 8 19 22 3654 6954 6754 40 78J4 60 1754 2714 46 2954 4654 8154 314 108 12K 62 104 3554 55 & 21 14 32 55 54 114 107 27 54 725 17 1154 17 82 78 14 93 16 100 1754 58 68 99 54 154 10 54 75 8854 39 84 2754 72 54 35 1254 26 71 Ji 1854 74 1554 8H 101 3 40 354 8 39 33 25 54 93 V 1554 70 35 77 (.7 1614 72 4454 59 54 1754 2854 1 19 38 25 54 4J 43 97 29 54 175j 135 54 47 6154 17 33 54 32 58 161 Net Ours. 1 1 1 1 1 1:80 r. m. 66 15 46V4f 2 16 W 63 H 62J4 - H 10954 14 44V4- 38 - 4 40K- 1 43 lyi 4554 10114- 1 118 -10 24J4 6 13354 109 54 -42 1 1 14 3354- 107 T4-8514- 7J4 14 5154 69 -97V4-32 6214- 120- 133 - 133 11 2814 79 -6654-37 54 5014 19J4 5054 53 96 . 2H 9054 314 28 20 2554- I08V4- 37- HS 101 63 9 91 17 -15-90 -41- 6 -25 12 75 50 60 13554 6 15 35J4 70 -34-46 -72-6054- 6-12-22 42 8 -1954 22 3754 40 - 7814 60 -1754 27 54 48 2954 354 - 108 13 62J4- 104 35 54 56 -2254-1454-32-55- 114- 107 2754- 725 -1914 1 1 54 - 17 . 82 .f-78-93 . 1654 . 100-17- . 59 -r-68 -9954 . 154 10 39 -84 . 27 54 72 36 72 -f 1854 74 - 1554 . 054 101 3- 40 314 , 8 - 39 -33-25 9354 1554 . 70544- 3554 77 -67 -1654 72 45 -60 54 17 28 54 114 19 38 25 54 4- 43 n 9754 29 17-135J4- 47 6154 17 3354 32 58 161 . . t)lr. Hales In I , BTOCK Htsh 100 7 Liggett ft. Myers pf112 100 12 Liggett & Myers B. 1SRK 1400 7 Lima LoeomoUve..107J4 1400 .. Loews Ce 13 900 1 Left Canfly 1314 100 .. LoescWIIes Biscuit 37 H ,100 12 Lerlllard Tobacco.. 148 10900 .. Mclntyre Pore Ml.. 2014 600 7 Manhat Elev Ouar. . 39 14 1200 2 Manhat Shirt 37 300 .. Msnatl Sugar 47 200 7 Manatl Sugar pf.... 79 100 .. Manhattan Elee S.. 45 .200 .. Market St Rwy.... 754 .122 ' Marktt 8t Rwy pf. 3154 1200 .. MRrSt Rwyprpf.. 56J4 100 .. Mar St Rwy 2d pf 14 600 .. Marlln Oil 2554 4200 .. Marlln Rockwell... 2254 300 .. Tiartln Parry . 27 100 ..Math Alkali -33 100 . . Max Moter Class A 54 0.122 Max CIM B 18 21800 12 Mexican Petroleum. 119 100 9 Mlntnl I-V....V.. 911i 19001.30 Middle States Cerp, 1314 Ui ' 114 14 14 54 54 'm ' 14 T4 V 114 14 14 54 154 54 54 14 ' V 54 i J4 1 54 54 !4 r. "J4 14 '54 54 114 2 14 14 14 1 5 254 114 14 154 14 14 V 54 14 ' 14 14 14 14 '14 14 54 14 1. ' y 6400 100 400 100 200 700 1900 200 200 100 200 100 200 800 200 500 400 3403 100 Mldvale Steel 34 .. Minn ft St L new.. 1054 . . Me Kansas A Texas 654 .. Me Kan & Tex (wl) 12 .. Me Kan A T (wl) pf 32(4 .. Missouri Pacific... 2174 . . Me PnclRc of 53 3 Mentana Power.... 6314 .. Montgomery Ward 16 .. Mulllns Bedy 28(4 .. National Aeme 13(4 7 National Biscuit. .. 136 Nat Cleak ft Suit.. 4214 .. Nat En A Stamp.. 3454 7 Nat En A Stamp pf 05 .. Nnt R Ref M 2d pf 4 .. Nev Cen Copper... 14 6 New Yerk Central. 86 0 :v Y C & St L 64 400 8 New Yerk Deck.".'.'.' 30(4 10500 300 1600 200 3200 100 800 4300 100 1500 3200 103 600 100 1200 200 300 300 4400 7200 2000 200 1200 1500 600 4300 1003 100 100 500 1100 300 1100 500 400 New Yerk N H A H 20 V, 2 New Yerk Ont & W 2454 .. Norfolk A Southern 2054 7 Norfolk A Western 1 CO 8 North Amer ctfs... 5674 8 N American pf ctfs 42(4 . N Amer Ce rts . . . . 7 G North Pac 75 .. Okla Pred A Ref... 254 .. Ont Silver Mining. 8(4 .. Orpheum Circuit... 1714 Otis Elevator 133 .. Otis Steel 12(4 .. Otis Steel pf 52 2 Owens Bett Mach. 3114 . . Pacific Devcl Cerp. . 854 6 Pacific Gts A Elec. . 67 .. Pacific Mall 14 3 Pacific Oil 49 6 Pan-Amer Petrel... 54(4 6 Pan-Amer B 4814 .. rarlsh & Bingham.. 15 2 Pennsylvania R R. 37 .. Penn Senb'd Steel. 774 6 Peeples Gas Chicago 8054 .. Pere Marquette.... 28 5 Pere Marquette pf . 61 54 B Pere Marq prier pf 7054 3 Philadelphia Ce . . . 3754 2 Phillips Pet 3574 .. Plerce-Arrew Moter 17 . . Plerce-Arrew Met pt 36 .. Pierce Oil 8 0 Pitts Ceal 6154 Pitts A West Va.... 2714 1400 1H Pend Creek Ceal... 1854 100 .. Pressed Steel Car.. 70 400 .. Producers Refiners. 27 500 6 Pub Sv Cerp of NJ. 8514 4500 8 Pullman 124 3200 . . Punta AlegTe Sugar 3974 3500 2 Pure Oil 30 30 4 Rl! Sec of III Cen.. 62 100 8 Railway Steel Spg. 9654 100). 41 Rand Mines 22 1000 .. Ray con Copper. . . 1474 9:0 4 Reading 73 1000 .. Remington Typewrit 36 1430 .. Hepub Iren A Steel 5114 330 2 Rep Iren & Stl pf. 77 100 .. Republic Meters.... 754 1800 .. R J BeyneldB Teb B 44(4 30006.20 Royal Dutch N Y.. 53 4100 200 100 1000 400 400 1400 2400 4100 700 200 14 54 St Louts San Fran 28 St L S W 28 St L Southwest pf . . 42 Santa Cecelia Sugar 4 Savage Arms 16 Saxen Moter 3 54 Seaboard Air Line. 474 Scab Air Line pf... 97s Sears-Roebuck .... 72 Seneca Cep Cerp. . . 13 Shattuck Arts Cerp 8 10082 Shell Transport 3954 5100 .. Sinclair Cen Oil 25 100 .. Slese-Shcffleld 0!4 3400 6 Southern Pacific... 85 400 .. Southern Rail 2152 1690 4 Standard Oil of Cal 95 2700 6 Standard Oil of N J 172 200 7 Stand Oil Of N J pt114(4 300 7 Steel Tube pt 80 400 2 Stewart Warner Spd 26 1100 .. Stromberg Carb.... 674 48310 7 Studebaker 106 1430 .. Superior Oil Cerp.. 554 1230 .. Sweets Ce of Amer 4 54 3 100 .. Temt Cern & F "A" 274 1100 .. Tenn Cep & Chem.. 1114 0100 3 Texan Cc 4314 1030 24 Tex Gulf Sulphur... 4154 1200 .. Texas A Pacific. .. . 3254 2300 1 Texas & Pae C ft O 25 200 .. Third Ave 2014 100 C Tobacco Products.. 6154 300 . . T St L & W ctfs B. . 25 800 . . T S L & W pf ctfs B 34 54 3230 .. Transcen Oil 954 700 4 Traneue Wm Steel 41 54 200 C Union Bag & Paper 56 400 .. Union Oil 18 100 7 Union Tank Car pf. 103 900 10 Union Pacific 133 100 .. United Alley Steel. 30 100 7 Unit Cigar Stores pf 107 54 500 .. United Drug 66 100 8 United Fruit 13774 100 .. United Rwy Invest. 1214 4600 0 United Retail Stores 14(4 3100 .. U S C I P A Fdy.. 36 100 C U S C 1 P & Fdy pi 65 200 ..US Express 6 300 .. U S Feed Products. 614 500 ..US Ind Alcohol... 4674 3100 ..US Rubber 6114 200 ..US Smelt & Ref.. 3574 18200 6 U S Steel S5 200 7 U S Steel pf 11674 1000 2 Utah Copper 63 200 .. Utah Sec 1414 1200 .. Vanadium Cerp.... 38 54 100 8 Va Iren Ceal ft Ceke 45 100 . . Va Iren Ceal &C pf. 68 700 .. Va-Car Chemical... 34(4 100 .. Va-Car Chemical pf 73 200 .. Vlvadeu Ine 10(4 4150 .. Wabash 9 54 10700 .. Wabash pf A 8 190 .. Western Maryland. 10 100 .. Western Pacific.... 1954 500 7 Western union Tel 97 100 4 Westlnghouse A Br. 85 4J0 4 Westlngh E ft M.. 57 300 .. Wheeling LE.... 954 100 .. Wheeling ft L E pt 18J4 100 4 White Moter 39 700 .. White Oil Cerp.... 974 100 .. Wick Spene St Cerp 13 4300 .. Willys-Overland ... 8 54 300 .. Willys-Overland pt 39 100 .. Wisconsin Central.. 28 4U0 4 Worthlngten Pump. 0 K-dlvldend. LOW 112K 18874 109 54 15 1314 3714 148 10 39 37J4 46 79 43 754 31 Vt 55 14 25 20(4 27 33 54 18 11714 2714 1314 33 1054 6 12 3214 2114 5214 65 16 28(4 1314 136 42 34 83J4 A 'A 14 86(4 64 30 19 2454 19 100 5454 42 14 7 74 214 854 16 133 UK 52 30 814 66 1314 48 52(4 4714 14 37(4 7 7974 2754 6'14 7054 37(4 35 17 35 8(4 61 27 17 70 2654 8554 123 Va 38 29 62 9614 22 14 7354 35(4 5074 77 714 44 5214 27(4 28 42 414 15(4 314 454 9 7054 '13 854 3914 2414 40(4 85 21 94 169 114J4 80 26(4 44 104(4 5 4 27. 1074 "2 404 31 li 25 20 0154 24 3374 9 4051; 56 1774 103 13? 30 107 14 65 13774 1214 43(4 34 54 65 6 G 46', ee 3574 93 11674 6274 14J4 37 45 68 24 73 10 9 27 10 19(4 97 85 57(4 914 1:80 Net P. M. Ohr. 112- H 138K 106(4 IB 13K- 37(4 148 19 - 1 39 -3774 47 79 -43 714 31 (4-5614-14 - 23 - 114 y v H 14 1 1 20(4- 114 7 33 54 18 -117W-2714-1314-33 1014 6 12.t :214 ?t(4 53 65(4 18 SB 136 -42 -3414 8354 4 -30 -20 2414 19 1C0- 5654 2H 14 14 3 174 14 14 14 y 'h 'y 'h w 1 14 554 14 14 1 54 14 14 54 M 1 ' "' " r" ' r ,3 LOCAL UTILITES GOHTINUED STRONG 4214 7 -7474- 214 . 854 1714 133 -1214-52 31 - 8ya 67 14 49 774 80 2814 61 14 7054 37 14 36 8(4 61 -27 -18 70 174 14 14 14 14 1 1 14 1 14 14 1 154 ' 14 14 1H 1 Steady Absorption of P. R. T. and Active Buying of Phila delphia Electric i The pentlnned strensth and activity of Philadelphia Electric and Philadel phia liapitl Transit was once mero me outstanding feature of the local market. While the dealings In Philadelphia Eleefrle ll,1 nnt reach the heavy volume of yesterday there was a steady abserp-1 tien of the stock nt the top price, name ly 'Mb. The motive behind the sudden outburst of speculative enthusiasm re mained clothed in mystery, but it was lntimsteu mat me movement was pri marily based upon new financing plans Which will be seen niaac Known 10 tue stockholders. P. It. T. moved up another peg te 20i, indicating a gradual cleaning up the floating supply, which will be com pleted before the plans for carrying the stock te a higher level are carried out. With the excepllen of U. O. I which reacted te 44 en moderate profit-taking, most of the ether utility shares were firm, several moving into new high ground. American Hallways preferred en n small turnover advanced 3 points te 4.3, while the common remained steady nt the year's top price, 0. Yerk Hallways held at 20V&. In the miscellaneous list the Key stone Telephone issues were prominent with the common advancing ever n point te O1. while the preferred was up 5 points from the previous sale nt 33. There was a mixed movement In the American Stores shares. Pennsyl vania Railroad continued te be well taken. K , "m rl'.a v ) t Twe or Mere Traveling Together xwill find it a great convenience as well as ' a safeguard for contingencies or mere than one person te be able te procure "funds, This can be arranged by our Travelers'' Letters of Credit issued in mere man one name. Besides assuring readily available funds, our Letter of Gredjt acts as an introduction, te the foremost bankers of the world with consequent courtesies and attentions. , Send for Booklet jyCa ,. ! V i i . H k ,-f .r iii-H IT. ISIS New Yerk FOURTH & CHESTNUT STREETS PHILADELPHIA Bosten BROWN, SHIPLEY & COMPANY Feaadtri Court, Letkbnry Of ice for Tratiltri Londen, E. C. 122 PII,M1I( Londen, S. W, Philadelphia Stocks i 74 1 14 1 43 LIT T ii vx ys 10Mi ni 33 5 33 il 1814 39 9 13 7 3954 28 CO 26 (4 8514 123 39 -29-62 96(4 22 -14-7354-36(4-5114t-77 - 714 44 53 -42 4 10 - 354 4 74 9 71 54 13 8 39(4 94 '4-169(4-114(4-80 36 J4 ta 106J4 2 5 4!4 i 27i 41 32 2574-' 20 - 6154 24- 33 74- 914- 4054- 56 - 1774- 103 - 133 -f. 20 4. 10714- 66-r- 13774- 1254 44 (4 36 -J- 65- 6 6 J4 46(4 .. 60 - i4 3574 - 14 95 174 11674- 74 63 1414 54 37-j4 38"l54 34-74 73 - (4 1054 .. 9 ?8 10 -1954-97 85 57(4 l54 9 13- 8 39(4 28 -50 1 14 14 14 14 y "ll4 14 Va " Va 254 " Va 154 54 14 74 14 54 174 14 "l4 1 74 " Va "l4 114 1 14 14 354 14 14 54 14 114 74 74 14 174 14 . 1:1.1 Net Illsh I1W P. M. chee 35.-. Am Stores 00 00 DO . . 135 delvtpM27V5l27 127V4 V, 15 de 2d pf.127 127 127 2'j 82.tAm.Hw3S. 0 ea4 .. lift de prcf. . 43 40 SOOtCub O Su 14 14T itnfr-nn Alt i-j inu. in& !() In Ce N A 34i 34V. 51)5 Key Tel.. Il?i 8 Mi 00 de pref.. 33 30 50 Luke Sup. 8 H 23tLce Uubbr 33 33 laOLch Xav.. 70 70 20t.Mex Pet..ll7Mi llTMi 11 1 50fM Stn OH 13 13 13 lOOfMldvale.. 34 34 34 3" 70 Vi S 31) 14 20.. 2V.I.. .. mil v ... nni i ii, tiii i 4 O.V 1-IlllU IV X itt'l il Sl"tf "4, lOtSeuth Pac 85 85 85 JWTxex rac u & O .... 25 130Tone Bel. 1 200 Tone Mln. 1 lOOfTrans Oil. O 120 IJnlenTrac 39 233 U G I. . . . 44i(. 70 de prcf.. 52 3"tU S Stce 05 Mi llultf n iv stV -JHii 1 9 sPn llflnfEM.i f r4Mli 11 I m JBJIXS Kt"c"" nliarVKA ! M t ii 100 000 Penna It IC 37 7 CO Penna Salt 71 70Vj 50 Phlla & W 8 8 25 Phil Ce cpf 30 38 1743 Phlla Elec 20 20 557 de pref.. 27 27 20 Willi s-Ov 8 ivy JOVj "fa l',8- 39 44 01J4 04Vi 20 fe 25 1.. 1- & nWs- 30 .. 01.. 05 1 8 20.. 20 Yerk Rw tNat chanse made by comDarlBen with lust sals en New Yerk Stock Kxclinmcc. 1'inL.VDELI'HIA IIONDH 1000 Liberty 2d 4US '42 07.0-5 2000 Liberty 3d 4s '28 00.20 7500 Liberty 3d 41,4s '28 rcg. . 08.04 1000 Liberty 3d 41,4s 28 00.18 2000 Liberty 4th 4 Vis '38 08.20 5000 Liberty 4th 4Vs '38 reg. 08.00 1000 Liberty 4th 4s '38 08.12 2000 Liberty 4th 4ffls '38 98.18 1000 Amer Uas & Electric 5s. 84 1000 Electric & Pce 4s ! 400 Electric & Pee 4s 04 500 Electric & Pee 4s 05 5000 Keystone Tele lfct 5s. . . . 7(1 1000 Phlla Electric 1st 5s 0(1 3001) Phila Electric Cs 101 1000 Heading general 4s S4 Phlla. Federal Reserve Bank The statement of condition of the Phila delphia Federal Reserve Hank at tbe cleie of business March 22 follews: HKSOUl'.CEB March 2'J March IS Geld and told cer tificate 12.210,980 $2,187,000 CJeld settlement fJ.. Fed. Ki-s. Heard 01,874,340 07,690.003 Total sold held by bank Geld with Fd. lies. asent Qeld redemption fd. OFFICERS CHARLES B. 1NQERSOLL, Pr bxanlev p. WILSON, Vce-Pr ARCHIE D. SWIFT, CaM DAVID R. CARSON, Asst te PretT ALBERT H. ASHBY, Asst. CaihlM WILLIAM POST Chairman Executtve Commute , -t,i Mr. Asa S. Wing, President of the Provident Lifv & Trust Company of Philadelphia, said te ?; "When we consider that mero than forty mil lion peeple have financial transactions each year with the Life Insurance Companies of this country, we get a glimpse of the importance e Banking facilities te Life Insurance interests The Provident Life and Trust Company el! Philadelphia opened a deposit account with the Central National Bank of Philadelphia in 1865 and has continued an active account with that Bank ever since." Central National Bank of Philadelphia Chestnut Street at Fifth Cajrfttl $1,000,000 Surpltu and Undivided Profits Earned $4,6oajxe U ,, Ik it Ut v m 1. ' I J C PT 104.001,323 100,784,013 143,800.805 4.04-.MU 110,784,10.1 10.487.011 Total cold res... $212,000,605 $227,000,090 Legal tender notes, silver, etc 7,073, 70S 0,7.12,821 Total resencs.... $220,874, 104 $233,758,011 Bills .Uncounted, se cured by U. ti. Uevt, obligations $40,200,258 $40,038,143 All ether 10,100,085 13,578,023 13111s beUKht In open market 15.321,878 15,000,384 Tet. bills en hand $68,781,221 $75,308,381 U. 3. bends and notes $14,704,600 $14,724,000 U. 8. certificates ' nf Indebtedness: One year certifi cates (1 1 1 tmtvn Act) 8,000,000 8,000,000 All oilier f,OUU 0,02tf,tHJ Municipal warrants 102,000 102,00 Total earnings as sets Bank premises (In ciuainc vauiu . . Flvs per cent re demption fund against Fed, lies. Bank notes Uncollected Items . All ether resources i'AC7cv ffT. a ,i 1 .v w4 Equipment Trust G GOLD NOTES ft $50,000 $50,000 i BALTIMORE & OHIO R. R. CO. MISSOURI PACIFIC R. R. CO', f Due January 15, 1932 te 1934 Due January 15, 1930 te 1935 Prices te Yield 5.70- , These notes, dated January 15, 1920, represent a First Lien en standard railroad equipment te the extent of approximately 5SS of the original cost thereof. Harrison, Smith & Ce. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA LOMBARD 6100 i ( $100,675,321 $103,100,084 $000,113 $600,113 700,000 45,422,082 204,245 700,000 84,143,240 270.215 Total resources. ..$3T4, 560,717 $302,630,471 H 14 14 114 214 Va M 14 'A Va 14 Ya LIABILITIES Capital paid In .. $8,855,100 Surplus 17,045,140 Iteserved for Uevt. f renchlBO tax .... 150,000 Depesits: aovernment 4,120,300 Member Bk. lies, account 101,440,053 All ethor 1,240,457 Total deposit $100,828,710 $113,730,083 $8,855,100 17,045,140 121,000 1,433.518 110,582,803 1.704,171 We Stand for Philadelphia and Philadelphia-Made Goods, first, last and always. We are proud te be a Philadelphia concern, managed by Philadelphia men. u f t C. E. HOWE ADDRESSING & PRINTING COMPANY' V Howe Building " 704 Chestnut Street StOckwcII ' CERTIFIED PUBLIC Wikon & MXz!ZAKa klmilk. -"..'. ,.." Bosten New Yerk , 1'hllRdelphla .. clnea!i(I . . . lllchmend .... .Ulunta L-hUnife rlt, Leuis .... Minneapolis .. Kan.au City . IUIIas Bun Francisce, 4 5 n 5 a n n 4tt ,Vi 4! 4W 45? i'i AV, T ,' -" 4Vi 44 44 5 ft ft 5 ft .1 B ft r . a n r. .1 r. n 5 ft ft n 4 4ti 4H ,rt SILVER TiAeKa4lA tAtusllvr HVS.S unehsnrcd In Kasr Terlc tpdayt ?0Hp per fine ounce 1 for. chft Un. 03c. 11 rsli-ef He. In Londen Ibi ni 5?lc w Kd.uJisbw ,Mt, 8lil, I situ iatJWifef1lii-'C. a.. MONEY.LENDING RATE8 S"1W YORK Mney en call, both classes of'tellateral, opened tediy at 4 per tent for U-ndlna and rnew Ink'. VIIIIDKLVIIIA Cull. 3 per cent: time. C per tent: cnmtnerrlnl paper three te six months. 3 te S' per cent RAILROAD EARNIIGS COLORADA AND SOUTHERM 1022 Increase Serend week March . $120,827 $00,029 January 1-March 14 . 1,205,007 M.'.'OI.BIZ Increase. Situation In Weel Little Changed Bosten, March 24. The Commercial Bul letin tomorrow will say: "Interest In the wool traoe nt. vcn.'.icu cmt'.ir uui wen upon the Industrial situation and the tariff, Trn lalier IS reuuiiLti nsrevu uimi) uy iiiv Senate Klnance Committee at 38a u pound, clean content, for wools for clothing pur- roses, with carpet wools virtually free, t Is believed th Government, If this pre pesal la aaepieu, wm nim 11 n very atnicuu tariff te adnlnister and one which probably will be abandoned very quickly. He far as is must the mills are concerned, titers chanie. Demana ler cietn I mpi r aaciarea inuaLiea 111 hi 1, -v - cloth Is slew and lower I te m Inevitable, The Is still quiet." FOREIGN EXCHANGE New Yerk, March 24. The foreign exchange market opened milct. Htcr line wiiH down ,i, frant-8 down 1, Iel Klaus down 2, lire up Mi, pw-eteB down S, Danish down 10. M.rway up 25, Sweden down 0 and Swiss and guilders unchanged. Mnrka wt-re nom inal at 30 Vi, a decllne of a fraction from yt-atfrday'H clette. At tbe middle of the second hour Mer lins, aftr-r helling nt 4.30 for cabli-s, receded te 4.38 en fairly large offer ings. Demand wan quoted at 4.icH4 ! franc cablet) 0.00 VI, checks O.O.1V4 i lire cables B.13, checks 5.12'.. ; marks ..10. YESTERDAY'S CLOSINCJ QUOTATIONS Sterling- KrancH Lire Uullders Demand 4.88H 0.03H D.11V4 37.77 Cable 4.80 D.OO &.12 "" tedays evamxg quotations Sterling Francs Ltrs Guilders Demand 4.38H B.04V4 6.1H4 87,75 Cable ...... 4,88 0.06' 5,12 S7.80 Wheeling Foundry Passes Dividend New Financing by 800 Line tVnahlnclen. March 21. The Minneapolis. St. j'aul and Hault Ste. Marie Railroad aslied the Interstate Commerce Commission ledey for permission te sell 12,500, 000 In first refunding mertrasu a ntr ,m ni. The read's application declared that It had ,i,n..iuvu , ,n uiiu unicr inueuieanesfl te meet Immediately and that It was able te secure lOl'-i for the bends from a New Yerlt banklns syndicate If the commission allowed the sale, , Raw Sugar Market Quiet Nnw Yerk. March 24. The raw sucat murket continues oulet and about steady en the basis of 2Se te a 7-lBc. cost and freight, for Cubas, There were no sales yesterday ether than 10,000 bags Cubas at ??.: hV,?"dr"'"h.t.- .12. 'J!? . African nuifai i: ...mu.ii,, Bimujf unneuncsa. Importations Included 2.1.500 buss Cubai te the Kederal Sufc-ar Retlnlnf Company and 5200 bas te Arbuckle Bres. The local if. fined market Is unchanged at 5. 50c, less "a per cent ter cash, for flne granulated. Paris Bourse Irregular rarls, March 34, Prices mevad Irregularly en the Hours today. ,Thr Mr cent ran tea. ST franes 75 centlrass! ezafcanga en .Londot, Fed. nescrve Bank netea in circula tion (net liability) 7,078,000 7,071,000 Deferred availabil ity Items ..... ... 45,832,705 53,186,783 All ether liabili ties 708,180 712,08.'. Total liabilities,. $374,500.717 $302,030, 4T1 Ratie of total resTvee te deposit and Fed eral Heserve note liabilities combined, weul of March 'ii. 75.4 per eent; previous week, 77,4 per cent. Above percentages calculated en basis of net deposits and Federal Reserve notes In circulation. Memorandum Contingent liability en bllln purchased for ferrtarn correspondents, week of March 22, $2,270,760; previous week $2,451,001. LIVE8TOCK QUOTATIONS Chicago, March 24. CATTLE Receipt 5000 head. Slew. Generally steady en n classes: geed yearlings, $8,75; best heav steers, early, $8 50; bulk beef ateera, $7.2:. W7.75J quality plain; ea calves fairly ac tlve, mostly $7.5Offl8,50 te packers; shipper, paid $0.50 te $10 for cholce handy weigh C"llOi8 Recelpte, 21,000 head. Market ac tive; better grade lighter weights steady ethers mostly steady te 5e lower than yee lerday'a Average. Tep, 110.35; bulk, $l),7f me, 80; pigs, steady te atreng; bulk deslr tThl. 1)0 te 120 peunders, $0.2500 51). SHEEF Recclpts, 7000 head. Fat sheen and fat woeled lunu.s aoeut steady; fat shen. lambs atreng te 25e .higher. Tep woeled lambs, 118 BOl no choice lights herti shorn top early. 113. 2.H woeled ) ear lings, $18,50, average 1Q5 pounds; geed 128 pound shorn wethers, $U few head nudlum woele.1 ewes, 8,509.W. iHMahnivh. March 24 IIOOH ll-lr,. 1000 htad. Higher. Heavtea, 110.75011: eraers, iii.uvyii uui ngni yergera, flf Spruce 8200 r United States Treasury Certificates DECCRITIKS DEPARTMENT COMMERCIAL TRUST COMPANY Member rcdsrnl Rraerra Ryultm City Hall Square West t..l.t. U.rrk O -Th. WhtatUat MOM anVf'evmdrr Company C S..l,,,'i lt,La! M centlmaaj 6lir , eint lean, rt SI? uMUTyWtena et a wJjm.'jm, itwu M centimes. TheJlF-Ilar.wts quetafl laeau v 'iaitf'i 4 i.Miva 7s vuuui7r ?4BsssissssssKin .' iij lar, quar at tbU 1 m auj HAS skfa. as lliUyM-IJ-LiViliU , , If There b a Market " We Can Find It We Tr.nlrl anlpfl nf BtOCl and bends every WedM day, charging $t''3'. tinnce ce for each ljW weekly catalogues anej PV card service reach vLn' furniRhing ouetntions, nt Barnes & Lefland;e Stock Brokers nnd AnciUeHM" 147 8. 4th St, hm KEWBURGER. KFIinFRON & Members New Yerk nV' Philadelphia Stock nxcmr 1410 Chestnut St.! ' . 'j Ti (0.A.HUHN & SONS STOrKU AND BOKO Ueuilitis u( Ihr l'lill,iile,iil.ij, v(a New Yurk rntun Krh,mg, CeRimlaslen Oritsrs Pweciited a All tke Prinrfnsl Market UtMrti lead Bought anal gei lUlMU . ui.m. .11., .T. .. . W1" JiiiTTrfM m iS'alV r. ., n . e. CI.. r5UWI Jeney CltyfHobeken&Pat ijgj lJl c..-.. rArnnr'n. 'All .TM uuiaaiB uciii" r- rjx .S.uel K. Phillips & Ceng Members Phil ilcl.-hln 807 rHEHTNl'T f-TB"PT yp'r'tm-'S, ,- . ,f.m'-zr,Tr'mm WIEGKER, ROCKVJ Ctrtififcl Pk ' T.-VTu-,. .-v;-v ,v j 'n M i.-V" .?.. .V ,1 . tik!.&MtZikir&& & ztawi&mjcM mkvwmmmzi,.. .,j.s, hAMMkm t .-.. T. 1 ..r. . .l..1tfiil4SJ "-.r. zJ. .'
Significant historical Pennsylvania newspapers