RlBBjBBBBBBBBBBBJBBBBBBjJPBBBBBBBBBBBBBBBBHBBBBBBBBB EVENING VXJBhlO LEDGJbB-PHILABELPHIA, TTJESliAY, APBIIi I 1922 ' ; f 2 VHY? Iwhy is it easier te m.lr. .v;:1 lfc??evtIuu te Keep it? .-' Wy de se many make ?; 8. wueminate ie.vestnjen.tJ? t lnv fin rrve n...!.. i '$PPle faU te distineuiah :J$sKetween sound arid un. wunu securities l Our booklet, "Common Sense in Investing Meney" tells why. Write for it to day. Ask for Booklet 713 L tw W- w Si ntceari 11 'Stock I fjBjjBjsjg2 IHCOSrORATBD , MTAIUSHIDIttl Exchange Bldg., Phlla. Ttltficm Srnuci j6a! years without lest te any Invester Ei K Cu,. , lulls, Ly e, V. birnua & Oe. . 1 (ill Sprue 8200 I r-L I United States Government Securities SECURITIES DEPARTMENT COMMERCIAL TRUST COMPANY Member Frdrrnl Reserve Nvntrm City Hall Square West ARGENTINE Rccissien 4s, A. O. 5s, 1909 , BRAZILIAN GOV'T Sterling Issues 4s, 1889-1910 42s, 1883-1888 5s, 1895-1903-1908-1913 Railway Resc. 4s, 1900 NORWAY 3s,3'2s&4s BUENOS AIRES 42s & 5s GRAND TRUNK PACIFIC 3s & 4s of 1962 4s, 1955 Branch Line 4s, 1939 Canada Atlantic 4s, 1955 Cassel, Nunes & Ce. Slcmbera N. Y. Sleck Exchane 6C Rreidway New erk Ttleplwnc Bowling Green 3141 .A r OUR FINANCIAL INDICATOR Just off the press, contain the latest news en .... -.-.. . a. T. 'ameat Players Gen'l Asp. sland Oil Vanadium Steel end many ether issues, SEND FOR L-4 '.IBTED SECURITIES CARrtlED ON CONSKHVATIVK MAHOINAL. UASIS Inquiries and Accounts Invited CULVER & CO. STOCKS and BONDS Mtmbcri rhlladelphln Stock Fichanae Conreltdattd Stock Bzchanu of .V. I". CULVER BLDG. 1504 Walnut Street. I'lilla. Bare 7Dfl! Hnnice 3?e Pitttburih, Pa.. Brewnruiltt. Pa. SteulenvWe, O. J ri i We own and effer: New Yerk, Chic. & St. L. 2d 6s, 1931 Mohawk & Malone R. R. lit 4s, 1991 (N. Y. Cent. System) Carthage & Adirondack R. R. 1st 4i, 1981 (N. Y. Cent. System) .,111 are tax exempt In I'cnnsuhanla WlDINIS BLOO, Philadkiphia Mtmbri Pkitadtlpkia iJ JSVw Ytri Stott LuUnfii an vera uiuecrM. M. i. mmm Us.'X.i' i-Jf PI NEW YORK CENTRAL RAIIROAI COMPANY , Refunding and Improvement 4s Mertgage S Geld Benals '1 series C" ,JC Due 2013 IT., it- r;,.'i J madeamabl an a whole at irvy , ah . 4aK iLk 1VW Blivr vw t4 and Interest fyi.M SPECULATIVE FiEVER AT BOW HEAT Mighty Volume of Buying Orders Prompted Distribution of Peel Holdings j f j r New Yerk, April 4. Speculative enthusiasm reached a boiling point In today's stock market and until the brakes were applied showed dangerous vmptems of developing Inte a run way affair. The transactions In the first tWO hours warn n fkn t.aal. - - f ' ,'SiW. STRAUS & Cfk fw-nllln-share market. In thf first S7 ,jJaVV. v AVTHJwJ OC VA hour alone the turnover reached un- irexlmatelv -ir.n.oen hni- wi,.. . lumber of the active speculative xverltes of the Industrial division reg. mlcd new ,llh Pr,ces te' the year. The remarkable activity and buoy- ncy of the Industrial stocks during 'he first part of the session indicated v great Influx of the se-called public uylng. While the pdels and ether peculatlve combinations were prompt I te take advantage of the virulent type I of the speculative fever te bid up the eiccicu issues k wns linrdly concclv cencclv hie that the wild character of the rramnff could be bacd selelv en the Iterations of the professional contin ent. The buying enthusiasm manl Mtetl net only in the leaders but in all parts of the list where the least ign of notion wns shown indicated -ejicluslvely the outsiders had at last nken the bit after many months of taxing. In the overwhelming rush of buving rders disclosed nt the opening wns be found sufficient testimony of the prend of speculative fever and the agcrness of the outsiders te get obenrd before the big joyride was ever. The ales of 200,000 shares In the first half inur indicated the extent of the volume 'f accumulated orders overnight which had been nttracted the progress of the constructive movement In the last 'ertnight nnd mere particularly by rca--en of the bread movement In yes erday's session. Advantage of this mighty buying tower was promptly taken te distribute tocks by the speculative peels and flinties, and profit-taking after the first nlf hour assumed considerable preper- ions. These tremendous realizing sales .or n time caused hardly n ripple, but .he staggering welsh t began te have a telling effect In the second hour, when 'in geed-sized reaction took place nil I along tne line, when it was also ap parent that brakes were being applied uy the influential interests te check the alarming rapid spread of the spec ulative orgy. The line of cleavage wns rather tightly drawn between the Industrial nnd rati divisions and the latter were the only important group in which .speculative Interest seemed lacking. In the former the enthusiasm seemed te reach all classes. In the first hour dur- Itli tfm ..fttn.l ,tnflln(. ..nil lifnl. .nAn.ilj ' for the yenr were made by prominent teels, meters and equipments. Stude- aker, yesterday's outstanding feature. made an initial gain of 1 points nnd i Pierce Arrew common nnd preferred were better by half te one nelnt. Vana dium leu the independent steels, rising 12 points. Mexican and (California Petroleumns featured the oil division with Housten and lteyal Hutch. Ameri can. Sugar. Beet Sugar, American Ice, American Tobncce nnd American Writ ing l'npcr preferred embruccd the ether htreng shnres. In the selling for profits reaction of 1 te U neints occurred in Studebnker, 'Vanadium, (Julf States Steel, Famous l'laer, American Car and Canadian Pacific. United States Steel reacted almost 1 point from its new high of 118. Shippings were strong, however, and buying of oils assumed broader pro pre ' portions. Davidsen Chemical led the i specialties, rising 34 points. Commodity Markets GRAIN MARKET Chicago. April 4. The wheat market ns barely steady at the start, with ift prices c lower te ftc higher, but imediately developed n much firmer ne and advanced Vic te lc. The iverpoel cables were diHapielnting, though prices there rallied from an rly decline of d nnd1 closed net un anged. but exporters were suid te ve tnken fully 1.000.000 bushels of Innltebrw and durums yesterday, and Is revived demand from nbrend wus iruely responsible for the upturn. Cern opened unchanged te ?4c lower tuler scattered selling, but rallied with heat and developed a much firmer no. Oats were quiet and steady with very irrew price changes. Previsions were firmer with hogs, iwfiwwra hich were ic te loc higher -Prev. Clese pDn 1 P. M. 1.33H 1.33 & 1.35 1.33 1.18 l.lNM,y 1.17'i 1.1 .... 1.12V .... 1 Vi .-.81 r.s4 w r,s, mi i! Ill O OlVi li'J'i 64H .. Ui 304 3Oh0 3'i "A 3 3U .. M 02'i 1.02'i 10 47 m.r.s 10.7S 10. SI) "v ... Sept. ... .urn .lay ... July ... .ept. ... Oatu n.y . . . July ... Sept. ... Rye July . . . .May . . . Lard May . . . July ... COTTON MARKET New Yerk, April 4. Heavy ruins In Texas during the last twenty-four hours, amounting te nearly six inches at Dallaa, led te bujing of cotton by Wall Street, local operators nnd New Orleans interests early today. First prices were 1 te 4 points higher and the list quick. y registered net gains of about 10 te 1" points. Cables from Liverpool were net favorable at the hour of the opening of the exchange here. Receipts nt the ports for the day are estimated at 25,000 bales, against 10, 538 bales a week age, 20,707 bales a year age and 10,027 bales two years age. revleus 1 Clene Open P.M. 17. S3 17.87 18.01 17.2K 17.25 17.40 1II.H4 111.0.1 17.20 1H.1I0 1A92 .... 16.70 10.81084 .... May July October . . Decern Dtr January , NEW YORK COFFEE MARKET New Yerk, April 4. The coffee fu tures market opened irregular this morning, due te the unsettled Iirnzlllan markets. First prices were 2 points higher te 3 points lower. The local exchange figures the world's visible supply of coffee en April 1 at 0,184,740 bagsAt decrease during the month of 210,111 bags. On a moderate renewal of bull sup port, prices had advanced 4 te 8 point net at mftl-dny. There was very little coffee coming out, wellers acting with cnutlen. Seme of the early firm offers In the cost and freight market were higher and local jobbing house reported a firm market for the' spot article, Yeet. cIem Open May , U.eOOOl 0.81083 iulir .......... ...... 0.405(10 Siptember .... December . m. A. 0.37 :.:ii.. 0.25 MONEY-LINDINQ RATES ?wwir?uj e r.nentt time. tMM00- inree, te ala ceai, i'AY ifeifj 3&S NEW YORK STOCK EXCHANGE .TRANSACTIONS Dlv. In t STOCK ItlKh Advance Rumtly ,. 18(4 3 Advance numely pf 47 V 4 Air Reduction 54 H .. AJnx Rubber, 17H . . Alnska Juneau O M 1 Vi .. Alaaka Qeld Mines, H Al'led Chem eVDye. 68 H 4 Allls-citalmers 47 H 7 Allls-Chalmera pf , . 93 .. Am Agrle Chem... 40H 4 Am Bank Nete 72 .. Am Beet Sugar.... 42(4 .. Am Besch Magneto. 45 4 Am B Shee Fdy new 58 Am Can 48 tt 12 Am Cur A Pay.... 156 7 Am Car A Pdv nf..118 1:10 Hales 100 200 400 1800 100 200 7100 1300 100 700 500 800 200 100 3900 400 200 1000 300 100 400 100 100 400 1000 1400 2600 300 100 400 2100 700 1000 1400 300 3200 100 1100 100 300 1200 2500 1400 2200 100 800 400 100 300 11800 500 600 900 200 600 300 100 8500 1100 100 100 2700 22800 5400 200 2200 600 500 800 200 12100 200 200 400 400 1600 800 200 500 400 700 4900 1300 1700 1800 400 900 1100 200 18600 800 3200 600 300 100 500 1400 2600 4300 2000 100 2800 100 200 300 100 3200 1300 2900 600 100 100 1300 800 4600 300 100 900 500 100 Lew lH 47 54 17 ' 68 48 93 39 ft 72 41 44 ft 58 47 154ft 118 11H 25(4 55 5 139 15ft 68 107(4 81 43 11 34" 58 111 7ft 14(4 54 ft 97 36 96 ft 71ft 98 33 121ft 139ft 136ft 88(4 105 28 15ft 39 ft 47 51 55 107ft 97(4 88 2 95 ft 3ft 31ft 23(4 114 5 24 ft 112 41ft 57 46 39 32 1ft 69 ft 74 93 9(4 65 22 17ft 16 128 41ft 6(4 26 ft 13ft 78 53 6 137 37(4 71 35 75 ft- 62 ft 7ft 15 23 ft 43 8ft 20 23 38 71ft 109 40 80 ft 93 62 89 17ft 27 48 30 46 27 83 3 71ft 109 12 62 09 104ft 36 59 85 ft 21ft 90 15 34 61 116ft 26(4 4ft 159 20 ft 83 ft 109 11 19(4 12 ft eeft 38ft 108 16 18 ft 63 98 70 101ft 158 11(4 78 ft 92ft 39 86 ft 26 ft 18ft 71 37 lift 71 12ft 2 19ft 17ft 77 ft 8 103 7 3 40 ft 35 ft 27 ft 7ft 40 ft 98 110 16ft 72 ft 38 80 74 ft 16ft 47 ft 66 ft 19ft 8 27 ft ft 19 P. M. 16U- 47K 54H- 17 - 1K . 68 46 - 93 -39 ft 72 42(4 44ft- 58 - 48 - 154ft- 118 - 11- , 25(4 35 ft 139 l15ft 68- 107ft 7 82 44 11H 34 - 58 111ft 7ft 37 - .. Am Chicle.., 1214 .. Am Cotten OH 254 .. Am Cotten Oil pf.. 55 .. Am Drug syn 5Ji 8 Am Expresa 139H .. Am Hide & Leather 15ft . Am Hide Leath pf 69 ft An lc ;..108H 6 Am Ice pf 82 . Am Internat Cerp. . 44H 1 Am-Ls. France Eng 11 H . Am I.lnseed 35 .. Am Linseed pf 58(4 8 Am Locomotive.... 112 Am Safety Racer. . . 7(4 .. Am Ship & Cem.... 15H .. Am Smelt, 544 7 Am Smelt pf B7H 3 Am Steel Foundries 37 ft 7 Am Steel Fdys pf. 96ft .. Am Smr Rf 72 7 Am Sugar Ref pf. . 98 Am Sumatra 33ft 9 Am Tel & Tel 121 H 12 Am Tobacco. ..'... .141ft 12 Am Tobacco B....138H 7 Am Woolen 89(4 7 Am Woolen' pf 105H . . Am Writ Paper pf . . 29 ft .. Am Zinc Ld & Smlt 15H .. Am Zinc Ld & S pf 39 ft .. Ann Arber pf 47 ft .. Anaconda copper... 52 4 As se Dry Goods.... 55 H 6 Asse Oil 108(4 6 Atch Tep & San Fe 98 5 Atch Tep & S F pf 88H .. Atlan Blr ft Atlantic 2(4 7 Atlantic Coast Line 95ft .. Atlantic Fruit 3?i .. Atl Quit & W I S S 32ft . . At O ft W I S S pf 24 7 Atl Refining pf....114 .. Aute Sales Cerp.... 594 .. Austin Nichols .... 25 7 Baldwin Locomotive 114 (4 .. Baltimore ft Ohie.. 42 H 4 Baltimore & Ohie pt 574 .. Bamett Leather. .. . 464 .. Bnrnsdale Class A. . 39 J .. Barnsdale Class B.. 324 .. Batepllas Mining... 114 5 Bethlehem Steel 70 5 Beth Steel B 75ft 7 Beth Steel T pf.. 93 .. Brit Em Steel 9K 7 Brit Km Stl 1st pf . . 66 .. Brit Em Steel 2d pt 22 H .. Bklyn Rapid Transit 17J4 . . Bkln R T ctfs of dep 16ft 8 Burns Bres A 128 2 Bums Bres B 41 ft .. Butte Copper & Zinc 6(4 .. Butte ft Sup Cep... 27 .. Cadde Cen O ft R. . 134 6 California Packing. 78ft .. California Petrelm.. 54ft .. Callahan Zinc ft Ld 64 10 Canadian Pacific... 138 .. Central Leather.... 38 .. Central Leather pf. . 72ft .. Cerre-de-Pasco .... 354 6 Chandler Meters... 76ft 4 Chesapeake ft Ohie. 62ft . . Chicago ft Alten ... . 8 ft .. Chicago & Alten pf 16 .. Chi ft B III (new).. 234 . . Chi ft E 111 (new) pt 43 .. Chicago ft Gr West. 8ft .. Chi ft Gr West pf.. 204 .. Chi Mil ft St P.... 24H .. Chi Mil ft St P pf.. 40(4 6 Chi & Northwestern 72 7 Chi ft Northwest pf!09W .. Chi R I&Pac 4 ft 6 Chi RI & Pac6 pf 80ft 7 C R I ft Pac 7 pf 94 .. Chi StPMiO.M. 62ft .. Chi St P M ft O pf 89 .. Chile Copper 17 ft .. Chlne Copper 27 ft 4 Coca-Cela 49ft .. Cole Fuel ft Iren... 30 3 Colerado ft Southern 46 . . Consel Cigar 27 6 Celum Gas ft Elce. . 84 .. Celum Graphophene 3ft 4 Cemput Tab Rec... 72 .. Consel DIs Ins K 7 Consolidated Gas... 109 .. Consel Textiles.... 13 .. Continental Can.... 62 6 Cent Insurance.... 69 4 Cern Products Ref. 105ft SU Cosden ft Ce 37 .. Crucible Steel 60 7 Crucible Steel pf.. 85ft .. Cuban Am Sugar. . . 22 7 Cub-Amer Sugar pf 90 .. Cuba Cane Sugar.. 16 .. Cuba Cane Sug pf 36 .. Davisen Chemical.. 64ft 9 Del Lack & West...116 1 Dome Mines 26(4 .. Duluth Se S ft At.. 4ft 12 Elee Storage Bat... 160 .. Elk Hern Ceal 20(4 G Endlcott-Jehnson . . 83ft 7 Endlcott-Jehnson pf109(4 .. Erie 2H .. Erie 1st pf J9 .. Erie 2d pt fg 8 Famous Players L. 81ft 4 Fed Mln ft Smlt pf 39ft 10 Fisher Bedy '??,. .. Flsk Rubber J7V4 .. Frccpert Texas.... 'B .. Gasten Wms ft Wig .. General ASpnaii... 64 C General Asphalt pf. 9B C General Cigar 70 ft 7 General Cigar pf. ..'02 8 General Electric. .. 158 H .. General Meters.... 11 6 Gen Meters deb 6 79 7 Gen Meters deb 7 93 ft .. Goedrich B F 40 ft 7 Goedrich B F pf . . . 86(4 Granby Cen M & M. 26ft Grav Davis '8ft '7 Great Northern pf . . 72(4 4 Great North Ore ctfs 37 .. Gulf Mobile ft Ner. lift .. Oulf State Steel... 73ft .. Guantanamo Sugar. lZJi .. Hablrshaw El Cable 2 .. Hendee Mffi Ce.... 19ft Hupp Motorcar.... 17 !! Housten Oil 78ft Hydraulic Steel.... 8(4 7 Illinois Central 103 .. Indian Refining. . . . 7 .. Imllahema Ref 3 .. Inspiration Cen Cep 40 2 Int Cement 36ft 2 Inter Comb Eng. . . 28 .. Interb Cen Cerp pf 8 .. Int Agricut Cern pf 40 ft 5 int Harvester new . . 98 7 Int Harv new pf...1I0 .. Int Mer Marine.... 16ft 6 Int Mcr Marine pf. 73 Internat Motertruck 39 ft 7 Int Motertrk" 1st pf. 80 7 Int Motertrck 2d pf 74 ft .. International Nickel 16ft .. International Paper 47 ft 6 Inter Paper pf atpu 67 ft .. Invincible Oil Cerp 19ft .. Iowa Central 8 .. Iren Products 27 ft .. Island Oil ft ., Jewel Tea 19 96ft 72 98 - 33 -121ft-141 136ft 88-. 105- 28 - 15ft- 39 ft 47ft- 51ft- 55 107 ft- 97(4- 88 2(4 95ft 3ft 32 23 114 - 5 25 ft 113r 41- 57 46ft 39 32 -1ft- 69ft- 75(4 93 9 65 22 17 ft 16ft 128 41ft- 6ft 78 53- 6 137 -37-71-35 76 -62ft 7ft 15 23 ft 43 8(4-20ft- 23 39 ft 71ft 109-40-80ft 93 62ft 89 17 ft 27 49 30ft 46 27 84 3ft - 72 109 69 105 -37(4 59(4 85ft 21ft 90 16 36 64ft 116 26(4 4ft 159 -20 ft-B3ft- 109(4 -38ft- 108 -16-18 63 ft- 2000 16300 7500 100 1700 100 2500 6200 34600 300 400 300 1200 100 500 200 2500 3610 100 6300 200 100 1800 600 300 7800 100 800 200 600 27500 410 300 1200 100 100 100 1500 300 100 2100 1800 200 400 1700 700 203 10T 1300 20 i 300 3500 1900 3500 100 100 100 700 1300 1400 500 300 2200 400 100 7500 100 100 8800 100 98 70 101ft - 1 - ft I58ft ft 26 ft 18 ft 71ft 37 -lift 72 ft 12ft 2 77ft 8(4 103 7 3 40 36ft -40 ft 98 110 38 80 66ft 19ft 8 LIVE8TOCK QUOTATIONS 1.25 yerker., Il.ht yerkers .and pl, 111.25: reusha. I8.7SW0: stage. I4O5.50. HHKEP AND I.AMMM Receipt.. 400 head. Steady, unchanged, ' 4 CATTLE Heceipie, BOOO head. Kalrly active and ate My en 1 ije cla.. vl cafvea slew, '''l '?& bulk. '"be'eV '.. J7.aBlB.5j bulk, fat .he lHOOS-He'p": 17.000 head. Fairly ae. live mostly 100 hlsher than yeeterday'a iver'aee" top. J JO 60. paid frequently. Bulk, lS.ef&10.S; piss. lSe te 25e hlsher, bulk, SJalraira 100 te 185 peundera. 110 0 10.25. MHPEP Ilecelpta, 12.000 head. Fat lamVi rftreeTtb !?Be h sheri fat sheep steady, wulad lambs top, 119.50! shorn te 14.16t Woeieo lamw luw. '..a9l9lt. Colerado-fed SSLkn, ?.0i?lln?bW'twe.: lis. tee. horn Pittsburgh, April 4. HOdS necelpti, 1000 head Steady. Heavies. ll0.esO10.T5: heavy yerker. and Hint yerker., 111.15 BHislAND' UAMBS Receipt.. 1000 head, Steady, Tep sheep, 10.36; top lambs, CAI.VES Receipts. 200 head. Higher, Tep, it.BO, East St. Leuis, ealeta. 2500 head. eanners, . bulls 9". ain. wti. I"". VfOeiwewMi vf.i., iiulk. beet cows. c. hivher r2.3as.S0:l . .i. ii -a rArrr.m 1 . bum mnwi Aurit . th --' ipr: tun. .fiK-fi ' 6fte'Sf4r.i ttfVfl .arpp. sua nianvri ; - A.v- ..ILI" fclty l.KOOB Reteleta.. uU.;l L2ZJ- a .-'ir' rAW nifneri N Chfe Dlv. Sales Int STOCK High !22 J.enM Bp( Tea.... 39 2600 .. Kansas ft Gulf 5ft 6I22 ' . " clt Southern. . ,26ft ,!S2 8 JJajMer ft Ce (94 3i22 " S,J''- WW 47H 300 . . Kelsey .Wheel 108 ,1?,, 7 K'y (Wheel pf...104H 3200 .. Kenneoett Copper.. 30ft iS2 '1 r,,t0," TAR.... 18 2700 ?" KOft 600 si? TS..ber T""' M 200 'ft 1!& yny h Jim 7 TLlma wnet.w. ..111 155 " ewe. Ce 1B14 300 1 Left c.nV....... 13 ?oe ;; Jew-Wllea Biscuit 44 1600 llWi Tobacco.. 14994 700 eIntI?,a new 2B 100 V w"1.1.' Sur 4 300 aRntU " '5 100 m",1".1 8h,rt 38 H 00 "a M1 .... 8 1700 Mar,?,By Dr p...sen 300 Yi5?ar.,.ln ou 27K 100 irv,nprry 29 20Q ,,rtln Rockwell... 19ft 200 .. M,th Alkali 32ft 220S ' Jix Moter Cluw A 60 800 'i w" S" B 20 7200 ,!$5r,DP Stere... 119K 200 2 Sf'0"1 Petroleum 124 ft e,?A. ' M,ml Copper 27 45SS '20 J!2dl; statM cn. '4 700 5Jlnnftst.Leul 10 97nn " H Knas Texas 7ft 500 " ? Kan T wl u4 3nn " MI"eurl Pacific... 23 200 , ".p"!fl0 P' 53 oe 7 Mentana Power pf. 103ft ion " Montgomery Ward. 18 80 .. Mulllns Bedy 32 -15 Nat'nal Acme 16 70S ; .. En stamp- 37 700 6 National Lead 92 14M " Namn of M 1st pf. lift pSS i ev Cen Copper... IS WO 6 NOTexAMex.... 63 J00 .. N Y Air Brak 67ft 4100 6 New Yerk Central. 87 J 00 E New Tork C A St L 64 ft 100 B N T Chi ft St L 2 pf 68 122 New Yerk N H ft H 20 200 2 New Yerk Ont ft W 24 ft 122 ' Norfolk & Southern 20 ft 500 7 Norfolk ft Western 103 ft 22 Norfolk & West pf . 75 2200 3 North Amer ctfs... 57ft J00 3 N American pf ctfs 42ft 100 .. North Amer Ce rts 6 900 6 Northern Pacific ... 75ft 400 .. Neva Scotia S ft C 29 !22 ekIa pd ft Ref. . . 2ft 100 . . Ohie Bedy ft Blewer 1 1 ft 2300 .. Otis Steel ....4... 12 100 2 Owens Bett Mach. 32 1400 .. Pacific Devel Cerp.. 9 .-?2 6 Pacific Gas ft Elee. . 69(4 16400 3 Pacific OU 55 6200 e Pan-Amer Petrel... 57ft 500 6 Pan-Amer B 51 100 .. Panhandle .; 8 100 .. Parish & Bingham. 14ft 2600 .. penn Seabd Steel.. 8(4 107 0 2 Pennsylvania R R.. 41 100 5 Peeples Gas Chlcagu 81 ft 2200 .. Pcre Marquett 29 ft 300 G Pere Marquette pf. 63 400 3 Philadelphia Ce.... 38 1700 2 Phillips Pet 37(4 6100 .. Pierce-Arrew Moter 21ft 1600 .. Pierce-Arrew Met pf 42 1100 .. Pierce Oil 9ft 3200 .. Pitts ft West Va. .. . 30 1600 C Pitts Ceal 61ft 100 1ft Pend creek Ceal... 18ft 100 .. Pressed Steel Car... 74ft 100 7 Pressed Steel Car pf 93 ft 1100 .. Producers Refiners. 28 50p 6 Pub Service of NJ.. 86ft 7300 8 Pullman 125 100 .. Punta Alegre Sugar 41ft 5000 2 Pure Oil 32 100 8 Pure Oil pf 101 700 .. Ray Cen Copper... 15ft 100 8 Railway Srecl Spg 99 7003.41 Rand Mines 25(4 2100 4 Reading 75ft 100 .. Remington Typewrit 34 ft 3400 .. Replogle Steel 33 1600 .. Repub Iren ft Steel. 54ft 700 2 Rep Iren ft Steel pf 78 ft 100 .. Republic Meters.... 7ft 4200 3 Reynolds Tab B.... 44 13500 6.20 Royal Dutch N Y.. 57 2200 .. st Leuis San Fran 29 1400 .. St L ft S W R R.. 29 100 .. St L Southwest pf 43 ft 100 .. SantaCecella Sugar. 4 1100 .. Savage Arms 22ft 2200 .. Saxen Moter 3 1003 .. Seaboard Air Line.. 5 200 .. Scab Air Line pf.. 10ft 3700 .. Scars-Roebuck .... 75 500 .. Seneca Cep Cerp... 13 200 .. Shattuck' Ariz Cerp 8ft 50383ft Shell Transport 42 23000 . . Sinclair (MI 26 400 .. Sless-Sheffleld 42 ft 3200 6 Southern Pacific... 87ft 2300 .. Southern Rail 23(4 300 .. Southern Rail pf. .. 54 700 4 Standard Oil of Cai 98 ft 200 6 Standard Oil of N J178 " 300 7 Stand Oil of N J pf 114 ft 1200 2 Stewart Warner Spa 38 ft 200 .. Stromberg Carb.... 47ft 65800 7 Studebaker 119(4 200 7 Studebaker pf 106 300 .. Sub Beat Cerp.... 5ft 800 .. Superior Oil Cerp.. 6 1300 .. Superior Steel.... 37ft 1600 .. Sweets Ce of Amer 3 200 .. Temt Cern ft F "A" 2ft 700 .. Tenn Cep ft Chem. lift 7600 3 Texas Ce 45 1100 .. Tex Gulf ft Sulp.... 41ft 60O .. Texas ft Pacific... 32 2500 1 Texaa ft Pae C ft O 27 ft 200 .. Third Ave 20 ft 200 .. Tidewater Oil 119ft 400 6 Tobacco Products.. 63(4 5100 .. Transcen Oil 10 2100 4 Tronsue Wm Steel. 45ft 200 6 Union Bag ft Paper 61 ft 1800 ..Union Oil 18ft 1300 10 Union Pacific 134 400 4 Union Pacific pf.... 73 400 .. United Alley Steel.. 31ft 2800 8 United Fruit 148 200 .. United Rwy Invest.. 11 2400 0 United Retail Stores 46(4 900 . . U S C I P ft Fdy . . . 36 ft 200 ..US Feed Products 5 6300 ..US Ind Alcohol... 46 ft 500 7 U S Ind Alcohol pf 91 300 ..US Realty ft Imp. 63 ft 2400 ..US Rubber 63ft 100 .. U S Smelt ft Ref... 37ft 34300 G U S Steel 98ft 300 7 U S Steel pf 117ft 1800 2 Utah Copper 64 100 .. Utah Sec 15ft 18400 .. Vanadium Cerp.... 44 800 .. Va-Car Chemical... 34ft 400 .. Vlvadeu Inc 10ft 1500 ., Wabash 9ft 8900 ., Wabash pf A 31 100 .. Wabash pf B 21ft 100 1 Weber ft Hellbrener 13ft 500 .. Western Maryland. 10ft 200 .. W Maryland 2d pf. 18ft 200 .. Western Pacific... 20 300 Western Paclfle pf. 55ft 1300 4 Westing E ft M.... 58 700 . . Wheeling ft L E. . . . 9 ft 300 .. Wheeling ft L E pf 20 ft 2300 4 White Moter 44 ft 1500 ... White Oil Cerp.... 10 1900 .. Wick Spene St Cerp 16 3100 .. Wlllya-Overland ... 9 300 .. Wlllya-Overland pf. 40ft 300 .. Wilsen ft Ce 42ft 700 4 Worthlngten Pump. 54 Lew 39 S 26 ft 93 46ft 107ft 104ft 29 17ft 140ft 31 32 60 ft 164ft 110ft 15 13ft 43 149 19 42 ft 73 35 40 ft 38 8 58 ft 28 ft 29 19ft 32 59 ft 20 118ft 122 27 13ft 33 10 7 14 22 ft 55 103 ft 18(4 31ft 16 36 90ft 10ft 3 15 64 ft 67 ft 87 64 ft 68 20(4 24 20 ft 103(4 75 , 57 42 ft 6 75ft 29 '2 ft 11 12ft 32 9ft 68 ft 54 56 ft 51 14 ft 8 41 81ft 28 ft 63 38 '36 ft 20(4 40 ft 9 21 61 18ft 74 ft 93(4 27 ft 86 122(4 41ft 31 101 15 99 '24 75 ft 34 ft 32(4 53 ft 78 ft 7ft 44 56 29 ft 29 43 ft 4 22 ft 3ft 5ft 10(4 74 ft 13 8(4 41ft 25 ft 41ft 66 22 53 97 ft '77ft 114 37 ft 47 ft 114 106 4ft 5ft 35 3ft 2ft 11 45 41ft 32 ft 26 ft 20 ft 119 62 9 42 60 18ft 133ft 73(4 31ft 143ft 11 45ft 35 5 44 ft 89 ft 62 61 37 ft 97 117 64 15ft 42 33 ft 10 9ft 30 ft 21ft 13(4 10 18ft 19 55 ft 57 ft 9 20 43 10ft 15ft 8 40 ft 42 ft 53 ft 1 2ft H ft 1ft 1 ft 1 ft ft ft 1(4 ft ft ft 1ft ft (4 (4 1ft ft ft ft ft 'i "'ft ft ft 2 ft ft ft ft ft ift " ft 1 ft " 2 ' ft "ft ft ft (4 " ft ft (4 ft ft ft ft ft 1 1ft ft ft ft 1 5 ft ft 1ft 2 3ft ft ft ft ft ft ft 'ft 'ft ft 'ft ' ft 'ft ' ft 10,50: few heavies sold early: pica iiu, fS-SSSi p"kln ew.'.teSdV. me'slfi SHKEi' Receipts. 1000 held. of run direct te pucker.: nethlna- nominally steady, ' Liverpool Cotten Uywevt. April 4. There waa a fair de mand for spot cotton today, but price, war. easier en the baala of a decline et JB i point! for middling at 10.81d. The ealea JiJI MOO bale.. The receipt, were iobe ba?e. Includln TMO bales American. Future. w,7. quiet In the early, dealing.. Spot price, were.;. American, .mlddllrur fair. la.Oldi US? April 4. CATTLE Re. Beef steers, beef cows, . dealing.. idling fair. and stockers, fully ..steady. miaaunx, lo.ued: fully mlddllns. UUIK. ueeisteer.. 10.10w1.001 W !, a rT.SB bull d ln. ih.BUi low middling, a.eedi, geed or dinary. S.Sid, and erdinsry, Mid, M.7B.18lbolefna bulls igat ye.i atrerur. te venriiner .-W..W T5' S.Tkl IAD. 10 a .n. ...mi i...I 'i duik. vjv la). Jm4. Aetlve, KSfePfJfad. mill l tetv.ll Monday. MB1 ATBEST 1:80 Net Chi. PRICEOF YEAR Dealings In .Lecal Stocks Largest Since Upward ' Movement Started P.M. 39 - 3 - 26ft- 94 - 46ft- 107ft- 104- 29ft- 18 - 11014- ft 1ft 1 ft It 32 - t 60ft- 165(4 110ft- 15 - 13 43 149ft 19- 44 73 56 40(4- 38 ft Dealings en the local exchange were the largest since the upward movement started, reflecting the widespread char acter of the speculative enthusiasm. A number of the .prominent local stocks moved te new high ground, while there was a distinct widening of Inquiry in ether parts of the list. The active leadership, however, was still retained by recent prominent favorites. As wns the case en the big beard, the buying nthusiasm was of a contagious char' 3 1 1 ft 2ft B .. 58(4 14 26 29 - 14 ft ft ft ft ft ft 'ft "ft ft ft ft 'ft 2 ft ft 'ft 'ft ft ft ift ft 'ft ft ft 'ft ft acter wltneut any particular stimulat 19ft 32(4 59(4 14 -33-10 . ' 7 14 23 -55 103ft 18ft 37 5 15 64ft 67(4 87 ft 64(4 68 20 ft 103 ft 75 57ft 42ft . 6-75ft- 29 -2ft 11ft 12 32 9 68ft 34 ft , 56(4 51 8 14ft 8ft 41 63 - 38 -36ft- 21 40ft- 9 30 -61 ft -18ft , 74ft , 93ft 27 ft B6ft 125 - 101 15 99 34ft ft 78 ft 7ft 44 56 29 ft 29 , 43 . 4 . 22 ft . 3ft . 5ft , 10ft 75 -13 , Bft . 42 25 , -22-53-98 177 ft- 114ft 116ft- 106 4ft -3ft-2ft 11 45 ft-41ft-32 ft-26-20 ft- 119 43 61ft 18 134 -73ft 31(4 148 11 45 ft-35-5 -62 62 37(4 97ft 117 64 I5 43 34 ft 10 9ft 18(4 19 -55 ft 57 9ft 20 ft 43 -10ft-15ft 8ft 40 ft 42 53ft- ing news or developments. Responding te the favorable exhibi tion made In the annual report nnd the intimations that it was the purpose pf the management te bring about an early restoration of the 0 per cent,dlvldend rate, Pennsylvania Railroad remained one -of the leading attractions nnd reg istered a new high price for the yenr at 41 Vj. The report showed earnings mera than sufficient te nay the' 4 per cent dividend and also reflected the al most phenomenal accomplishments et the management In bringing down the operating cost within a reasonable basis. The strenrth of Pennsylvania was supplement by renewed active bujing movement In Philadelphia Rapid Tran sit which carried that stock te 80-. equal te the ten price made a week ero. Electric Storaee Battery also came in for attention making another new high at 100 and the new stock at 41. It was In Lake Superior, however,- the speculative side of the market was mere strongly revealed, Continuing the up ward swing of the last two days, the stock reached 11, the best price it has made this year, but the movement wns without meaning. While Philadelphia Electric continued in active demand, the stock did net get above yesterday's top, but the preferred made a new figure at 28 ',4. , Philadelphia Stocks 1:1B Net High tow P. M. chge. 350 Am Stores 00 08 08 125 rie 1st nf.lSlM 130 130 10 Am Iiwya. 8'5 8V, 8 '50tB & O... 42 42 40BethBtlB 75 70 Brill J G. 44 5 de pref. . 70 lOOfCM&StP 23 lOfCesden... 37 Hienk n a in 102 Elec Ster.100 150 2.1s ue new. . 4i 47ntnn Ttr 111 mm i.nne up. 11 71t 'i 00 33- VJ 54 .. 41 8 120 L,eh isav,. 71 5Ih Val.. 00 801-Mldvele.. 38 0 renn Cent ft ft 2(4 2525PennaBR 41 l(Mi I'hila & W 8 lOPhila Ins Wire ... 31 285Phlla Ce num. nt. Sfl 38-V. 27 28 30V4 05 0 1722 Phlla Elec 27 ft ft ft ft Htn de pref.. 28V4 2815- Phlla R T 30 40 Phi a Trac 05 400fPierce Oil 0 100tPltts& W Va .... 80 iy 30 m 1 UtStli & BF 20,! 00tStudcbkr.ll8T OflOTunn Mln fli 2f)B ft ' ft 117-y4 117- Vi. I'M 1 M . . 130 UnienTrac 41 110 II O T 4.11 40 40 4.T 52 0704 jriy 1000 de pref.. 52V. 10fU 8 Steel. 07 30 W Jer & S 83 115 W Crami) 1)7 33 33 & Sens. 40 40 40 40 23 ft 140 Yerk Rwy 23 Vj 23 23 V, T?Cr hnnsrat tnaila K. Mnal 11L .ai. en New Yerk" Bleck ExS.nVe. """ ,MI PIIILAJJErrilLV DONDS 3000 Victory 49is 23 100 88 2000 Elec & People's 4s.. Jets 08 1000 Elec & People's 4s. . . ... 07 1000 Lehigh Nav cons 4s. 02 5000 Phi a Electric 1st BsT.lets 90 500 Phlln Electric Cs 102 1000 Reading Traction Os.... 101 FOREIGN EXCHANGE New Yerk. Aeril 4. Th m. 1ft ift ft ft ift ft ft ift 1 'ft ft ft ft 'ft ft 'ft i ft ft ft 4 ft ft ft 1 1ft i ft ift confidence given Premier Lloyd Geerge, or ureat uritain, and the indications of a geed understanding between the allied Governments relative te the lm mediate problems In connection with Genea were reflected in strength vir tually throughout the entire list, with sterling un V. pnr rVnm ...,.'". final, and with gains of 03 i francs. 1 'r "? il'T'.-" .r.: !i" Swiss, 5 ... ...0.., ., ... i.wj unu .1 in Hwe den. Spanish exchange was an excen excen tlen in the neutrals, with n less of 3 points and marks were point under yesterday's final. Quotations were: Sterling cebles 4.40',i, demand 4.30 ; frenc cables 0.14, Ufa 0.13V.: Beleinn enhlw rIV -C.cP 8.40; lire cable, 5.33. checks 5 33; ""' i i.'.in, ciiccks ju.42: ne seta cables 15.47, check 15.45 ; Danish cables 21.20. check. 21.15; Norway ca bles 18.20, checks 18.15; Swed, f cSl bles 20.20, checks 20.15; guilder "nb?e 37.05, checks 37.00; ma?ks, .31 The opening rates in most cases were somewhat under 'the Londen figures Sterling was un exception, showing a fractional gain ever the preliminary In the f!entrV TCurnnpnti e-i,. '". $g"&yiZV!J$S?' r'f'"K te was also Hlic-WH in Rumanian nnd O.echo-Blevaklan showed steadiness (JuotiUieiiH were: Rumauian .72- Bul garian .70; Serbian 1.21; Cecho-Sle-vnklnn 1.01: Greek 4.45; Polish 02,18 Finnish 1.08; Austrian .0135; Hun garian .11. The premium en New Yerk funds in Montreal today was 2 15-10 per cent The discount en Canadian funds in New Yerk was 2 per cent. YESTERDAY'S CLOSINCJ QUOTATIONS Sterling Francs Lire OulliWra Demand e.SOH O.OBVi 6.30 875 Cables 4.SBK 0.J0 5.80H Vii TODAY'S OPENlNa QUOTATIONS Sterling Franks 1,1 re a'ull.ler. Demand i.SOji 0.1JW 6.83 3? 90 Cables ...... e.iOK .l(t 5.aH TM DIVIDENDS DECLARED Carolina Power and Light Company, euir. terly one-half of Per cent en common payabla May 1 te .tock of record April 1? ' Electrical Securities Corporation, quart.'r. ly IK per cent en preferred, payabfe April IK ... .m.U rmrnrA anrll a ' '" Prll ft ft ft ft 'ft ft ft ' (4 ft ft 'ft M Twe-thlrd sei.i i.i'il American Telegraph and Cable Company, quarterly $1.25; payabla June I te .tock of record May 31. li Robbed of 110 , William Graxler, 1320 FiUwater street, reported te the police today that be was held up last night by two Ne gro near hi homeland robbed of (p), .ANK CLIARINOa Spot 12.014! lO.esa', m. fca 7 .67-f 75ft 75 44V4 44 70 70 2 23 23 1U 37 37 $ i 150U lift nil & uy m 78 1W8 Y 71 00 3391 54 41 8 31 31 1 38 14 mi 0 .. a Vi 044-18. 45 S , Bank clearing 'today; compared with eer. ULrJZL., e..nxsa'ltaX rSJ3alallllllalllllllW N. 13 A Sriea'Sk.wl lk- Vain Istcfc"! Piiisylvaiia tiltn dHpiiy CwHlilailv Pnfm tUik DirMsafc M per Stvvs per Amm Favtrtbl Rgulrttin An outstanding development in the public utility aituatien is the fact. that Public Service CommU CemmU CommU siens have seen clearly the reasonableness of per mitting; rate increases whenever, conditions warrant Competent Public Utility Management s should reduce rates when equitable prier te being forced by Commissions. Only recently the Pennsylvania Edisen Company ' has voluntarily reduced rates and has obtained the co-operation of the consumers in its territory. Notwithstanding these reductions, gross and net earnings are en the increase. Tli streMfly lntrmckl foaltien of th Pcmausy.Tamia Uaen Company with ita : temara ia an Important lataant la tha atrangth back of the Prafarrad Stock, ylaldlag; 8. Shall iM tend you Information? Jehn Nickerson. Jr. 61 Broadway Naw Yerk Clly Exchange of Securities Under the Revenue Act of 1921 - Our pamphlet discussing this important subject should be of special interest and value te holders of bends and stocks. Write for Pamphlet 1122 tMnenil &Cn Bread and Sansom Sti., Philadelphia New Yerk Baltimore Pittibert Wi!tei Member New Tork. Philadelphia and Pittsburgh Stock Exchangee The Denver & Rie Grande Railroad Company Te the Helders of the Denver & Rie Grande First and Refunding 5 Bends: Netice is hereby given that the undersigned Committee has extended until and including April 21, .1922, the time for the deposit under the deposit agreement dated January 31, 1922, of undepesited Denver and Rie Grande first and refunding S bends. Helders of first and refunding bends net heretofore deposited who desire te co-operate with the undersigned Committee should deposit their bends, with coupon payable February 1, 1922, and all subsequent coupons attached, with the Farmers' Lean and Trust Company, depositary, or with any of the below-named sub-depositaries. As heretofore, the Farmers' Lean and Trust Company will advance the amount of the February 1st interest coupon te depositing bondholders who indicate their desire te receive such advance at the time of depositing their bends. Dated April 3, 1922. JAMES H. PERKINS, Chairman, n. WALltK LEIGH, J. H. MeCLEMENT, JOHN G. LONSDALE (St. Leu I.) F. A. DEWEY, Secretary. 22 William Street, New Yerk City. Committee. THE FARMERS' LOAN AND TRUST COMPANY 22 William Street, Naw Yerk City Depetttarv. Bub-Dwitarie: Merchants Lean A Tniet Ce., Chicago, til. Th National Bank et Commerce In St. Leuis, St. Leuis. Ma Bankers Trust Company, Denver, Cole. ' Hep. 6j Ce., Amsterdam, Helland The'-Fannar' Lean and Truet Company. IB Ceckanur Strut I .J. National Copper Bank. Salt Lake City, Otah P ' Londe iiMiiimiiimiiiire ngiiiiuii We Own and Offer llTHTh w mix $50,000 WABASH RWY. EQUIP. TRUST 6'S Due January 15, 1932 The equipment consist oft , 20 Light Mikade Locomotive 1000 All-Steel 55-Ten Hepper Car 2800 Deuble-Shenthed 40-Ten Steel Underfreme Bex Car The equipment cost $1 1,331,000 These unstamped notes are outstanding te only 58 of the cost. PRICE 101 y3, TO NET ABOUT 5.10 BATTLES & CO. Established I860 Independence Square (East), Philadelphia 5)MMtMiWIM A local opportunity I offered en our beard et directors. This I. en et the largest enterprises et modem times, and located Id Philadelphia, Thl I no scheme,, experiment, or laterr, bat a proven tact. The man 'ft? "I"1 . a,B,,le' I" wfcltt) wtu be sKurad, Ne breklrTT, or a,"" ,W""l MBW aad.. , m 314 Ne. Broadway St. Loaia, Me. fegW.WKfrerwc, ras w im; gatiteiaM, Jt&m?$r Ww.'b Vf." tV H .',i irsA-Ji n i-t
Significant historical Pennsylvania newspapers