WSw&tV.W
r":m
ft'?:,
Developments Cen-
lttaintly Strengthened Position
r?i
me
of Constructive Leaders
i, .
&'n
V
ttuL
iw Yerk. April 1.". The frcsli out eut
t of itneculntive enthusiasm In tliP
stocks In today's brief fplmi was
aracterUtle of the nresent innrlset. Al-
Auch this nnrtlcu'nr crenn commanded
Jti3".fcB foremost attention the trading in
i.:i' " rna renprni it rnntiniiei nrnnii nnd
Wl Uct,ve' The heavy accumulation of
TvV li hiiTlne- nrdprs ever the holiday stmnlled
3 "tm Mnllrltif ittnwlixitlim nf flin nnntnvlntm
.y i t..,.....- n ! aHAnillnllln frtfnn ..'hint.
:i? ' Miewa rIkps of running rnmtinnt. Thp
rmfnHnn hnvlne wave Increased In
IK 4: lutamltr .Itirlne tlin klinrt KPSelnil nnrl
ty,aneWn was the seeking for something
K "&- vtkat hnd net vet ndvnnced
JS .New highs for the yenr were pstnb-
iVtt Mlahed net only by the oil, but n!e in
pv 121II numeer ei rue iiim-r iiuuuinis nnii
. wraic of the lower-priced rniK Al-
'though quite n geed bit of tirnllt'lnklng
ivas eneeiiiitcied the i-entant shifting
ite"dlffcrent groups served te keep the
''Hirenil of the market upward until the
& closing.
, Liberty lMiei were irregular- In the
bend mnrket. but ether domestic a
well no ferelrn Nuies continued te
utrengtlien. Mexican. .Tapanese and
Jlelalan ("!nv eminent Nmiph gained from
LfT
r
Vti te IVj points, Mejclcan 4 leading.
Advances of 1 te nlinet 'J points fea
tured the further demand for Krle gen-
iral 4s, Pennsylvania general 41..-. Sea- I
beHfd Adjustment ."i. and Interboreugli
iftapld Transit .".'. rractlennl Improve- .
,jfaient wa shown by many ether rails,
.I'netablv the cealer, with active buyliiR
Jfjpf Baltimore and Ohie and Chesapeake
,'lind Ohie convertibles, I
The nueptlen unnermest in the mind
B-V
of virtually nil market Interests is when
the much-talked about and long-looked-for
reaction is going te tnke
t place. I'p te the menipnt, the market
simply has refused te react. On sev-
'ral occasions during the lat week.
It teemed te be en the brink of n ma
terial setback and seemed te be all set
for n temporary reversal. The reac
tien, however, did net extend very far I
before It uncovered a fresh strata of i
underlying buying order, which net
. only quickly overcome the (lewiinr(. ,
tendency, but Invariably started the ,
.forward swing en a fresh tack. In many
Jntnnces cairylng the speculative lead- '
era te new high prices for the year. !
'-The week closes with virtually the ma ma
''jerity of the active sucs near tnt- i
'lop" of the current jear. which in
many cases represent the high marks '
flncc 102f i
The supporters of the constructive
movement have net suffered because of
the lack of ammunition. On the con
trary, en almost each succeeding day
there crops out some event or develop -Taent
serving te confirm the almost phc-
nemenal transformation tnking place,
jiiet only in the financial situation, but
nu in iuu i wiiiuitririui .11111 iiuiul( l.tl
as well. About the only remaining
tstumbling block te a speedy return of I
tbuslness prosperity N the lamentable i
fjceaU strike. Notwithstanding Increns
Jinf evidence that curtailed production '
ijet coal Is already beginning te hamper '
lindustrlal operations, the powers-te- i
Z and the mnrket world in general arc
3ill disposed te. treat this unhappy tlt- j
, nation with singular Indifference.
The e.V4 per cent Interest rate for the
, tew issue of Treasury Certificates of
t aslndebtedncss, supplemented by the low lew
ejng of the Hank of Kngland mini- ,
xnura ratp of discount te I per iw,1
Staking the British rate, with the e. e.
Jceptien of Switzerland, the lowest bank i
irate of the world. Is monumental tetl tetl
rtneny of the complete restoration of the
credit situation and releasing of funds
(for commercial and Industrial purpoet.
(besides the rapid approach of a degree
of normalcy of the international finan
cial situation. ,
r These events, together witli the prom
, .tees of geed influences that are expected
'Je come, out of the historical Henna
conference, the wonderful Improvement
and outlook of the steel industry nnd
many ether favorable happenings of the
last 'two months tell. In their own way.
'the re.i6en for the rising values of the
country. The only trouble there seems
te be found is the possibility of allow -ing
the imagination te run away with
geed hard sense and create n weak po
sition which may be somewhat difficult
te correct. I
i In consequence, there are some weak
elements te be considered in the current
market which naturally have been
paused slightly ever b.v reason of the
lure of spreading specualtlve enthusl- '
asm. One of these, which may Mid-
denly precipitate the longed-for renc- .
jtlen. is the Increasing number of "step- !
'Jess" orders, which man of the traders
are niacin: te si:aril against nn pntlrp
'.less of position. This is building n
t weak understrata te the market struc-
ture by which some unferseen accident
tJay cause It suddenlj te topple ever.
FOREIGN EXCHANGE
J New Yerk. Am II 1.". The market a
,the opening today was of a nominal
character and there was eme conflict
between the various ngeni-les quoting
.rates. This morning, steiling was
oueted at l.lli for cables and 1.11 U
for demand, n gain of ', cent: francs
reached a new high record at It. 'JO for
cables and ILL'S for ehecks. There were
jieme nominal rates as high as O.'JIH"
for cables.
"The mnrket continued extremely dull'
without any appreciable change In quo
tations. In the middle of the second
hour sterling wan quoted at 1.41 -"s te
4.41 for cables nnd 4.41 te t.ll'i
for demand. Franc caries continued
Arm within a fraction of the hlgli rec- '
erd. Cables were quoted at H.'J.'.. and
check at li.L'T',: lire rubles ."aP...
checks r,.4; marks .:.li4; guilder
cables 37.MI. checks JJT.lfii.
,' The Central Kurepeau exchanges were
f nominal today at the following quota
; liens: Humaninn. ."."; Ilulganan, .70 ;i
.Berblnn, l.;i.: Czocho-Slevakian, 2.01 ; '
Greek, 4..r0; Polish mark. .O'JTO; Km- (
"JiUh, l.(K5; Austrian, .0135, llungar
"'Jan. .13.
..The premium en New Yerk funds in
'Montreal tednv was n shade lower at
.y1)! per win. The discount en Canadian ,
(funds iu New Yerk was 1' 5-1(1 per cent,
THURSDAY'S ft.OHt.NO Qt 'CITATIONS
HtTlllIB l-'rancn I, rp Uulldfm
V
namand . . 4.41 ' lias t, 44 37.ne
CtblM .. ..4 41 O.L'S'j R.44W 37.0s
! TODAY'S OPENING QL'OTATIU.NS
B"
Hierline Franca Lin- Guilder
... 4 41 Vi 0 2S .1 44 1J 37 du
,. .. 4 41! li I'll 45 37. Hi
CI.OHINO QUOTATIONS
Sterling Krwrirs !.ir QuIUlfira
. , I 41 II I'Sl, ft It 37 7
4 II U i'U .1. I44 37 I0,
THmand
Cables
t
tltnu ml
Cable
RAILROAD EARNINGS
KltlK UAII.IIOAI1
'...
avf ."
urter end Decemlrr .11
BF4'
nil'.'
In'n"
,Qre
.-'! 1111 31ll M6. 731. 622
P
2.'imi,'heT
net nrirr taxes
Total. Incemn .
Humliim after rharvn
4 Ml 5111
' 3115 Mil
.1,400,501
FA.
3 517.612
a iu3,ii:
8.S I. DELAWAHE AMI IIL'UfeON
E'V .f- Quarter ended Uccmbcr 31
II 70.1,061
!.:?. V 'Net after ta . I MS 11'
ine'iiSi I
'.!ie';:iJ
Jia.v-f
I
I
4 in. list
rata
Income
3,314 2.15
1.05M.32I
i (.!
us after clmriiei
vrji.r
reae.
8 "W
BANK CLEARINGS
mr
clearings today compared with cer-
aay laai le yean;
123 id.i is."
1. ..ftl.QVQ.OOO tM.70V.159 183,316,800
urns .aw
.k
rwflixiiD
HER THE HOLIDAY
i,' Ttaa. ft
.Jfc.l k s
HHR nwept everything neiere it. ut)tnn
lsSTtl addition te the recent ndvnncei of
iyU$irIees wan virtually recorded nil through
0.L m llt Tin. nnlv iliei'rlnilnnttnn brine
J2 T
mMmfflmk
NEW 'YORK STOCK EXCHANGE TRANSACTIONS 1
biv.
BVL ln STOCK Hlth
Teday'i
Clene
54J4
Lew
54 J4
17V4
4914
67 V
48
94
39
fa754
73 H
41 J4
72
46
48
162
12
6V4
16
71 H
107
47
11
34 K
115
7J4
1514
58
37 !4
73'
34
12014
141
137
101 14
13
32
92 14
104
37
45
52
5414
81 Ji
116
99
90! 4
4
98
4J4
33
224
2014
25! 4
11714
4614
60 14
46
47
35
Hi
75
79 Vz
100
111J1
13
76 !4
6
106
23! 4
21
39(4
6
?8',i
14U
77 !4
57(4
97(4
6Ji
141
39(4
73(4
36 !4
77
64 '4
8Ji
8
22(4
24
41(4
74(4
112
44
81
95
93
18(i
28i
64
88(4
b3
49
32(4
48
61
13 '4
-'4
74
28 Ji
109'4
13!j
66
72
1 02 Ji
41
64
23i
16
35'4
62
119(4
114
107
19
776
344
12
21
14(4
177
82
95
39 U
119Ji
95
17(4
17
14
61 (4
6514
74(4
164
12
79
40
86
26
17Ji
7414
45 '4
2914
12
14
33
831,4
2
19
75
81
I7"i
7(4
108
6
3
41!j
3
8(4
35
-7
95 !4
20(4
81
17J4
47
67 (4
IBJi
32
21
69
38
27 Ji
57 '4
5
96)j
107(4
48
31 i
19 14
140
5'i
16(4
32!4
33
62
114
uu 4 Alp T?f1uplnn 11T,i
4830
100
1030
1000
200
300
100
100
400
100
500
1500
103J
400
200
400
700
300
2900
200
100O
1700
30O
6700
1100
2600
1500
500
1500
800
500
200
600
100
6300
100
400
100
1700
200
400
200
4600
100
9800
200
5700
1200
100
600
1100
4400
6600
300
100
3600
400
100
700
4100
800
100
200
200
200
500
7330
33:0
100
830
230
6200
200
4430
200
500
2203
1930
503
6 33
18)0
330
530
100
500
3200
7200
503
100
30)0
330
400
100
2700
830
400
100
100
630
330
200
100
603
2630
800
100
100
330
5930
300
100
1700
. A.iax Buhber IB
3 Advanc Tlumely pf. 49J4
Allied Chem A Dye. 67 H
Ailla-Chalmera .... 49
1 7 Allls-Chalmera pf . . 944
.. Am ArtIc Chem .. 39H
. Am Aarlc Chem pf. 6714
.. Am Benk Nete.... 73H
.. Amer Beet Sugar... 42
6 Am Beet Sugar pf. 72
. Am Besch Magneto. 47
Am Can .. 49 X
12 Amer Car ft Kdy...164
.. Am Chid 12 Ji
Am Drug- Syn .... 6!i
Am Hide ft Leather 17H
Am Hide A Leath pf 72 H
7 Am Ice 10814
Am Intcrn.it Cerp.. 47!4
1 Am-La France Ens 11 H
Am Linseed 34V4
Am Locomotive ...116J4
Am Safety Razor . . 8
Am Snip & Cem .. 16
Am Smelt 58 Ji
3 Am Steel Feundrlea 38 !4
Am Sugar Rtt .... 74
Am Sumatra 34 Ji
8 Am Tel ft Tel 1204
12 Am Tobacco fl4ljj
12 Am Tobacco B ....137
Am Tobacco pf new 101 14
.. Am Waterworks .. 13J4
.. Am Watrvvka 6?! pf 32
7 Am Woolen 95
7 Am Woolen pf 104H
. . Am Writ Paper pf. . 37 Vt
.. Ann Arber pf 45
.. Anaconda Copper.. 53 X
4 Asse Dry Goods... . 54H
6 Asye D Goods 1st pf 82
6 Asse Oil 116
6 Atch Tep & San FelOO
5 Atch Tep & S F pf 90i
.. Allan Blr ft Atlantic 5H
7 Atlnntle Coast Line 98
.. Atlantic Fruit 514
.. Atl Gulf ft W I S K 34V4
.. At G ft W I 3 S pf 22'2
.. Atlas Tack Cerp... 2t H
Austin Nlchela.... 26
7 Baldwin Locomotive 1 17&
.. Baltimore ft Ohie .. 47
4 Baltimore & Ohie pf 60 H
. . Barnett Leather. ... 46
. . Burnsdale (A) 49',4
.. Bnrnsdale Class B.. 35i
.. Batepllas Mining... 1 Vi
5 Bethlehem Steel.... 76
6 Beth Steel B 80
7 Beth Steel 7 pf..10l
5 Beth Steel 8 pf..111Ji
.. Brit Km Steel 13
7 Brit Km Stl 1st pf. 76?i
.. Beeth Fisheries.... 6Ji
8 Brooklyn Edisen... 108
.. Bklyn Rapid Transit 24 U
. . Bkln R T ctfs of dep ?2
2 Burns Bres B 39 'i
.. Butte Copper & Zinc GTi
.. Butte & Sup Ced.. 28J4
.. Cadde Cn OAR.. 1514
6 California Packing. 78
.. California Petrelm. 58'4
7 California Petrel pf 97 'i
.. Callahan Zinc A Ld 6J4
10 Canadian Pacific. .. 143
.. Central Leather.... 40,
. . Central Leather pf.. 73?
.. Cerre-de-Pasco .... 26H
6 Chandler Meters... 77! j
4 Chesapeake A Ohie. C4J-J
. . Chicago A Alten... 91
.. Chicago A Gr West. 8
.. Chi A Gr West pf.. 22 J,
.. Chi Mil A St P 25 U
.. Chi Mil A St P pf.. 42 JJ
5 Chi A Xorthweatern 74
7 Chi & Northwest pfl 12
. . Chi R I & Pac 5li
6 Chi R I A Pac 6T, pf 81 H
7 Chi R I A Pac 7 'I pf i5'4
7 Chi St P M A O pf. 93 n
.. Chile Copper 184
.. Chlne Copper 2814
.. Clev Cln Chi A S L 65
6 Clev cln C A S L pi 88! 4
.. Cluctt-Peabedy .... 53
4 Coca-Cela 49i
.. Cole Fuel A Iren.. 32 H
3 Colerado ft Southern 48
4 Colerado A Se 1st pf 61
6 Celum Gas A dec. . 14
.. Celum Graphonhene 3'4
4 Cemput Tab Rec... 74
.. Consel Cigar 28 Ji
.. Consel DIs Ins
7 Consolidated Gaa...109H
..Consel Textiles.... 13'4
.. Continental Can.... C6'4
5 Cen Insurance .... 72
18
49 4-
67U-
48-
94
39 -
6714-
73 -
41 14 .
72
47
49
162
12J4
6!4
16 ..
71-
107
47 11614 4- 1
7 7i ..
16
58 Ji
38
73!i
34J4
120
141 J4 I
137 '4
101 !4 -13!'i
32
95
104
37(4
45
53
116
100
90(4
5!i
98
5
34(4
-
11714
46J4
60
46
49 (4
35
1(4
76
80
100
111 J
13 -76
6-
106 -23
21
39'4
!4
15
78
!j
6Ji
143
39(4
73 14
36
77
64J4-J-
eji
8
T2'4-
7514 1
42 .1
74(4
112
45(4
81
-'-18!-28(4-65
88(4
53
49! 4
32(4 ,
48J4
61
83 (4 -
3'4-
74-:-
28Ji
109-r-13'2-66(4
f
72
103 -42
!4
4 Cern Products Ref. 103
18100 214 Cosden A Ce 42
1200 .. Crucible Steel 65 U
1830 .. Cuban Am Sugar... 23
600 .. Cuba Cane Sugar. 161
10) .. Cuba Cane Sug pf. . 25'2
1930 .. Davisen Chemical.. 63 'j
100 3 Delaware A Hudsen.1 19l4
400" .. Del Lack A West .115
100 g Detroit Edlsn ...... 107
200 .. Ktk Hern Ceal 19
40 10 Eastman Kodak.... 785
3700 0 Kndlcott-Jehnson .. C6'i
1800 .. Erie 13 "4
1000 .. Erie 1st pf 11
100 .. Erie 2d pf 14i
2030 12 Elec Storage Bat... 179
2203 S Famous Players L. 83
100 8 Famous Players pf. 95
300 4 Fed Mln A Smlt pf 39 Ji
1900 10 Fisher Bedy 123
100 8 Fisher Bedy of O pf 95 14
4400 .. Flsk Rubber 18
2200 .. Freeport Texas.... 18
200 .. Gasten Wms A Wig 14
500 3 Gen Am Tank Car.. 62 'i
2030 .. General Asphalt... 65
430 6 General Cigar 75
200 12 General Electric ... 164(4
65
23(4
16'4
35(4
62 -
119(4-
114-
107
19
785 15
65'4 1
13(4 -t-2114
14'4
178 -f
82
95
39(4-
123
95(4 f
18
18
4-
61 "4
65(4
75
164(4
12
79 -
40 Ji
66
26 -18'
-75
'1 f.
4D'
29 Pi x
12 :
'4 -84
2
19 75
01
17(4
8
109 6 r
4 r
41 '4
-f
35
15930 .. General Meters.... 12Ji
430
6 Gen Meters deb 6 79
. . Goedrich B F 40 Ji
7 Goedrich B F pf. . . 86
. . uranl.y ("en JI & M 26
.. Gray Davis 18'.,
7 Great Northern pf . 75 U
4 Great North Ore ctfs 45'4
. . Greene Cananea crop 29'j
, . Uunntan.vme Sugar 12
.. Gulf Mobile A Ner. . 14J,
. . Gulf Meb A Ner pf 35 'a
. . 1 Till' State .s'teel. . . C4
., Hablrshaw El Cable 2
. . lUndnj Mfg Ce. .. 19
3 Hemestnke Mining. 75
., Housten Oil 82
1 Hupp Motorcar 1714
.. Hydraulic Steel.... 8
7 Illinois Central 109
.. Indian P.eflnlng ... 6
.. Indlahema Ref . . . . 4
.. Inspiration O-n Cep 41
2 lntcrb Cen Cerp... 3
.. Intern Cen Cerp pf 8
930
100
103
200
8)0
1533
300
100
400
600
830
800
200
500
2900
103
900
300
100
3700
800
5930
3950
100 2li Int Cement.
14J0 2 Inter Comb Eur ... 27
300 6 Int Harvst'r new. 96'i
1403 ... Int JIt Marln.i ... 20
4603 6 Int Mer Marine pf. 83
3700 .. International Nickel 18'
1300 .. International Paper 48(1
200 6 Inter Paper pf stpd 67!j
11603 .. Invincible Oil Cerp 19
800 .. Iren Products 33
100J .. Island Oil
500 .. Jewel Tea ...21
100 ., Jewel Tea pf 69 (i
800 .. Jenes Bres Tea.... Z0',i
503 .. Kan City Southern, 7
300 4 Kan City Se pf.... E7',i
1030 .. Kansas A Gulf.... 5Ji
100 g Kayser A Ce 9614
203 .. Kclany Wheel 107V4
1300 .. Kelly-SpR Tire. .. 48 !i
2300 .. Kennecett Copper.. 3114
4100 .. Keystone T A H.... 19J4
300 6 Kri'SKO S S 141
1400 ,, Lackawanna Steel.. 5b
100 .. Lake Krln A West.. 1614
100 ., Lake Krle A W pf 32!'j
300 2 Leu Rubber Tire 34
3100 3',4 IcfllBh Valley 63
200 7 Lima Locomotive. .. 1 15
100 12 LlKKett A Myers. . 165',4
27
96(4
20
83
18
48 -67
(4 .
19 i
32 Ji -f
Ji r
21 -)
b9!4
3914
27 Ji
57(4 :-
5 -
96(4 -'-107(4
-48!,
f
31(4
19
141 J,
E5Ji
16'
32 '4
33 -63
114 -
165'4
165(4-
Total eales. 1.0.17 IUU eharee, cempare'l nh 1 37,10O
Richmond Reduces Rediscount Rate'1) ner cjnt
Richmond, Va., April 15 The Federal
Rfierte llnnk et Richmond announced today
that the d "count rate en ull c!asi of
imer for all malurltieii had been reduced
eiiuiiunn, in inw meantime, nae paiu un it
nf the menv borrowed from ethtr lederal
lUeerve llnnka."
from 5 r cent le 4'i ier nirt Thla la
the third reduction in the dlereunt rate
rnn,j, (ince Njvmlr 3 laet when the rate
wae 6 per tent. In announcing the reduc
lien, tloverner Oergc J, Hmy. of the bank
Farm Leans
11 aahlnsteii,
Federal Farm
I.) hitVM reacheil
aald. "in uanxs nave uquiuaieii a con
11 arch by Cemmlaaluiier Ibdell, of the Farm
MKr.hlR nortleif of their 'ndrbtedneaa in . Lean Heard In
k ir,i.rai nnr.i IV 't nnrl th. r.nit I Federal Hetervfi
,,D .-... , - ,., .,,....., i.n....
has Dean a rian in . .airvv iiaauien ok tiu.nmvrii iiuwie..
r;
pelrjt. 'areuad 40 Perjent. te approximately
nd banks
A.i
the Federal Reserve liank from the le.est sUn 122.248.680, w
1 I
I.6W
16
13
5014
110
150
3814
80(4
7414
19
22
43(4
5814
38
40(4
62
2914
2814
1614
30
31
69
19
118(4
134
90
2914
14(4
25 V
9
7
8
14
36
24
58
7114
104
19(4
3354
134
41 H
4
37
9114
554
1614
66
75
C914
64
33
22
2754
1C5'
74
57
42
76
11
1314
214
19
134
15(4
65
26(4
8
70(4
1514
59 54
64 Vi
57
8 14
16
4254
10
B4
29
64 Ji
39
3814
2314
48
9
54
5914
33
es
16
6754
10654
79 ,
96
30
86
124(4
39
34
100(4
15J4
7814
34(4
32
5654
8114
204
46(4
64
14
29(4
5014
2954
44
2014
414
8(4
13
76(4
14 b
8
46(4
30
43(4
89
4854
24
55
91
104(4
181
114(4
99
40 !4
57
119
5(4
6
3714
3
1254
4714
43
34
29
:i
130
68
92
29 Ji
43
10
20 54
136
7314
.10414
3314
144
18
33
4914
36(4
69
47
5
65
66
38
Dlv.
Fat In
STOCK Itlth
Leetra Ce 16
1500
200
1000
,400
200
400
400
200
1300
1300
510
500
100
200
100
100
2100
100
500
100
500
800
600
139.30
100
1 Left candy 13
. Loese-Wllea Biscuit 91 (4
7 Loese-Wllea B 2d pf 1 10
12 Lorillard Tobacco. .150(4
. Mack Trucks Ine. : 39
7 Mack Trucks 1 pf.. 81
7 Mack Trucks 2 pf . . . 75 '
78 McInlJ-re new 19
.. Malllnsen ft Ce..... 2314
7 Manhat ElevGuan. 44V4
4 Manhat Etee Supply 59
2 Manhat Shirt 28
.. Market St Ttvry pf. . 42 Ji
Mar St Hy pr pf i-. 62
.. Mar St Rwy 2d pf . . 29 'j
.. Marlln Oil 29
.. Martin Rockwell... 1614
2 Martin Parry 30
.. Meth Alkalt ...'.... 31 ,
.. Max Moter clasa A 6514
.. Max Clasa B 20
I May Dept Stores.. 119
12 Mexican Petroleum 1 35 J4
7 Max PatrnUum nf . . 90
I
600
2 Miami Copper 29)4
3S20.20 Middle States Cerp. 15(4
232 .. Midvale Steel 36
600 .. Minn ft St Loul 10
200 .. Me Kansaa ft Texaa 7
,100 . . Me Kan ATex pf . . . 8
3200 .. Me Kan ft Tex (wl) 1414
1?22 M Kan A T (wl) pf 37
2100 ., Missouri Pacific... 24 4
?Z2 .. Me Pacific pf 39
200 3 Mentana Power... 72(4
.50 7 Mentana Power pf.104
'600 .. Ment Ward ft CO... 19 H
700 Mulling Bedy 3354
300 7 National Biscuit. ..13614
600 .. Nat Cleak ft Suit.. 42
3U .. xat Cen ft Cabla.. 4
700 .. Xat En ft Stamp.. 37 Ji
100 National Lead 9'
400 .. Nat R R of M 2d pf 5
1200 .. Nev Cen Copper... 16
200 N O Tex ft Mex.... 66
100 ..NY Air Brake.... 75
8700 5 New Yerk Central. 92 Is
1
!4
14
14
'3J4
"
"h
!S
" 14
J4
1
1(4
'l
400 6 New Yerk C ft St L t
500 214 New Yerk Deck.
33
3100
100
800
100
1300
600
100
700
100
4400
1800
400
400
1700
1600
2530
200
1900
100
11500
5700
2200
203
600
4700
2700
400
930
400
400
4600
4600
1030
6200
100
600
1600
V Ynrtt N' H ft H 2214
2 New Yerk Ont AW 2714
1 VnrfnlV A Western 106
4 Norfolk ft West of. 74
3 North Amer ctfs...
3 N American pf ctfa.
. N Amer Ce rts ....
B Northern Pacific...
5714
42
7
77
1
Hi
4
"
A
214
1
Nunally Ce.
11
Ohie Bedy ft Blewer 14
nbln nrnii Jt, Tief... ZH
.. Orphcum Circuit... 19 H
8 Otis Elevator 135
.. Otis Steel 6
.. Otis Steel pf 66J4
2 Owens Bett Mach.. 37
.. Pacific Dcvel Cerp. 9
6 Paclvc Gas ft Elcc. 70
.. Pacific Mall 1514
3 Pacific Oil 60
8 Pan-Amer Petrel.. 65J4
6 Pan-Amer B 9
.. Panhandle
.. Parish ft Blnaham. 1614
2 Pennsylvania R R. . 42(4
.. Penn Seab Steel... lOJ-s
6 Peeples Oas Chlcaae 84
.. Pere Marquette.... 30
6 Pere Marquette pf. 65(4
3 Philadelphia Ce.... 3914
2 Phillies Pet 39(4
.. Plerce-Arrew Moter 23
.. Plerce-Arrew Met pf 49
.. Pierce Oil ?tt
8 Pierce Oil pf 5g
6 Pitts Ceal 59 J4
14
V
IU
1.4
1
!4
Is
.. Pitta ft West V.. mi
1
100
6 Pitts A W Va pf
85
214
'4
!i
Ji
1
li
400 1 Pend Creek Ceal..
17V4
67
106(4
81
800
400
Pestum Cereal
S Pcetum Cereal pf.
. . Pr.iH hteel Car
500
100
200
200
800
300
6100
300
2000
1200
203
1103
700
200
1300
2700
57005
1700
1303
100
900
100
7 Pressed Steel Car pf 96
.. Producers Refiners. 30
6 Pub Service of N J 66J
8 Pullman '2j
.. Punta Alegre Sugar 40
2 Pure OH 35
8 Railway Steel Sf;.102
.. Ray Cen Copper.... 16V4
4 Reading; 7,8 J-t
.. Remington Typewrit 35
.. Replogle 3teel 33 5
.. Bepub Iren ft Steel. 57
2 Rep Iren A Steel pf 81
.. Rebert Rels ft Ce.. 21
. . R T Reynolds Teb U 46 J4
.20 Royal Dutch N T.. 5
1 St Jeseph Lead 14Ja
.. St Leuis San Fran.. 30
.. St L San Fran pf 50(4
.. St L A S W R R-. 30!4
,
IU
14
!4
'.
!4
!4 I
V,
1
!i r. sniitnireac 01.
I,
400
.. Savage Arms
.. Saxen Moter
.. Seaboard Air Line..
.. Seab Air Line pf..
.. Sears-Roebuck ....
.. Seneca Ced Cern...
21 V
4(4
10
14J4
76
14(4
9
4614
33 !4
44
1 'I
14
1
450
103
500
3300
200
200
200
1'4
1'4
(4
Shattuck Arlx Cerp
200 SV, Shell Transport.
98603
Sinclair Oil.
200
4830
200
1100
300
50
6000
4400
500
100
530
503
12900
1993
1103
200
330
100
37700
900
1030
40800
300
100
2330
100
100
100
4700
15830
1330
.. Sleis-SheHeld ..
9055
.. Se Perte Rice sugar y
.. Southern Rail 24 U
.. Southern Rail pf . . . 56
6 Standard Mill pf.-- 91
4 Standard Oil of Call 07 (4
6 Standard Oil of N J J 83 14
7 Stand Oil of N J P" '
7 Stern Bres pf 99
2 Stewart Warner Spd 41
.. Stromberg Carb.... 58'
7 Studcbaker ,zlf?
.. Sub Beat Cerp 614
.. Superior Oil Cerp.. 654
.. Superior Steel 37(4
.. Sweets Ce of Amer. 3J4
.. Tenn Cep ft Cliem.. 1254
3 Texas Ce 48!4
.. Tex Gulf A Sulp.. 43(-a
.. Texas A Pacific... 34
1 Texaa A Pac C ft O 30
.. Third Ave 22
.. Tidewater Oil 130
6 Tobacco Preducta.. 18
7 Tobacco Pred pf . . . . 92
. . T St L A W ctfs B. . 29 Ji
,. TStLft Wpf cfsB... 43
., Tranrcem Oil 12
.. Union Oil 2114
10 Union Pacific....'.. 138
4 Union Pacinc pi ... . 73Ji
7 Union Tank Car DflOfJa
United Alley Steel.. 3314
8 United Fruit 144
.. United Rwy Invest. . 18
.. Unit Rwv Invest pf. 34
6 United Retail Stores 4914
U S C I P A Fdy.. 36
6 u s c 1 p Fdy Pf 69
..US Ind Alcohol... 48
L S Feed Products 5
',. U S Realty ft Imp. 5
..US Rubber 67 (4
!4
1
" Ji
5(4
!-
!i
54
"t
1'J
.'I
1
1(4
'A
100
103
100
100
1000
300
900
300
100
2700
600
800
5100
103
11930
200
700
200
2100
100
100
423U
603
5900
300
1100
90
530
1030
400
200
300
1603
3100
803
1600
5200
300
900
400
200
400
it Smelt ft Ref... 38
'BUS Steel 98J4
7 U S Steel pf 117
2 Utah Copper 6614
,. Utah See 7!4
Vanadium Cerp.... 44
7 Van Raalte lit pf.. 96
6 Va Iren Ceal ft Coke 50
, . Vlvadeu Ine 1Z14
,. Wabash J'
, . Wabash pf A -Z
, . Wabash pf B 20
1 Weber A Hellbrener 13Je
. . Western Maryland. 10
.. W Maryland 2d pf. 19
. . Western Pacific... 22(4
6 Western Pacific pf . . 61
7 Western Union Tel. 98(4
4 Wtstlngheuse A Br 90
4 Westing K ft M.... 63 54
.. Wheeling L E.... 10(4
. . Wheeling A L E of 21
4 White Moter 45
.. White Oil Cerp.... 10
. . Wick Spenc St Cerp 1654
. . Willys-Overland ... 8 54
.. Willys-Overland pf. 39Ji
.. Wilsen ft Ce 43
4 Worthlngten Pump. 53 54
25 Wright Aero 8(4
Thun far this week 0,073,100,
98(4
117
65 J4
16
42
96
50
12
9
31
20
13(4
1014
18
21 J4
61
98
88
6214
914
20(4
45
10
16
8
38(4
43
t3
814
1(4
1
i
14
114
!j
14
1
Mi
154
' 1.
114
3
100
sharei eiter4'.
The Federal neevvc Rank of
Net
Cht.
IK
18.786.623. a total of 431.03B.275. "ThfH
lent." aald Commtaalener I.etdll, "were
widely dlitrlbuted and the placlna of thla
i ll, i, Ull. UI .till, ly U((Vl.,.f .(I ,( ll(IUM ,l
, farmers In a slnde month muit be a sub
aliintlnl tuntrlbutlnc factor In Imprevlns the
at Recerd In March
April 13 -Oporntlene nf the central situation."
Ian atrm were deelnred
recenl pr porllena uurint
BAR SILVER
a atalement leaned tud.y
LanLs. durlns Mnh. the ' Damcatlr.
bar allver was
.1.,-.., ..Of InaHa a..i.M- J. t. ..J.. .. 1Mb
viw.ni u,e. ,v,,-, ,,,- .nw iura may i v7iu
cleaed 15 loins. Merecatlnj was closed.
'.,n- ... jumi vvi. luriim, aaaci en wc
The
r ' f
Sa4mm:.
Iff
A WINS
unto
Today's Net
cie Chae.'
16 H
13 14
51
110 14
15014- M
39
81 14
7414 - .14
19 14
23(4 I
43J4 Y
5914
38- 14
4014 H
62 -j- 1
2914 2
2914
1614 J4
20
31 1
65(4 14
20 14
118 14
13514 1H
902
29J4 H
1514
3514 14
9- 14
7 14
8
14
37
2414 14
5914 1
71 Vi - H
104
19 14
3314 1
136J4 1
42 1J4
4
37 - 14
91 14
514 14
16 14
66
75
92J4 3
64 - 14
33
2254 14
2714 ..
105
74 !
t7 114
42 14
76 "' 14
11
14 114
2 ..
19- 14
135 1
16 14
66
37 114
8-
7014 H
1514 14
60 114
65 214
:9 114
8
1614 14
42
10
84 14
30 14
64J4-
T9(4
3914 a.i
23
48J4 Ji
9J4
56 214
59(4 -
33
852
16J4- 14
67 (4
10614 14
81 114
" 96 14
30 14
8614 la
125 1
40.14 (4
35 1
102 1T4
1614
78 14
34K- 1H
33(4 14
5714 14
81 14 14
20(4 -
' 46J4 J4
65 1
14 54
30 - 54
52 !4 - 14
29- 14
44
21 Ji
454 ..
9 2!4
14J4 214
76(4
1414 ..
9
'.654 - '4
33(4 4 "4
4314- 14
0014 li
4814 ..
24
55J4 14
91
106(4 2 54
18354 314
114 54
99 -
41 14
58 1
119J4
6 1
6(4 14
37 14 - 14
3- 54
1214 14
48 1J4
43 14
34
30 1 54
21
130 5
C8
92
29 Ji- (4
43 54
12
2154 1'
138
73(4 ..
104(4 (4
33(4 ..
144 (4
18 -
34-14
4914- 14
36 14
69 J4
47J4
5
C5 1- 14
67 1
38 - 14
98 J4 J4
117 - 54
66-14
1714
44114
962
50 214
12 14
9 54
32 1
20 - 54
13J4
10 li
19 J4
2214 ..
61-14
98 -
88
63 54 14
1054
21 1J4
45 1(4
10
16 - !4
8 - "4
39J4 114
43
5314
814 - 14
. AT NEW TOP PRICE
Many Attractive local Invest
ment Issues Are Curiously
Being Overlooked
American Stores and Electric Stor
age Battery were the outstanding fea
tures et the buoyant local pinrkct.
There was a further sharp rise In all
the American Stores Issues, making new
high recerda teje the, common nt 1054 ;
and 140 for the two preferred Issues.
The dealings In' the common were heavy
but In the preferred stocks the turn
over was light. The high prices rep
resented a gain of 4b points for the
commen: 0 points for the first pre
ferred nnd ! points for the second
preferred. Once again tire movement
was unattended by any particular news
or stimulating developments.
Electric Storage llattery, responding
te the favorable annual report published
ever the holiday, again moved forward
in common with the spirited trading en
the New Yerk beard, establishing a new
high for the year at 17V6. while the
new ateck sold up te 45. The Income
for the rear showed S22.50 earned en
the stock, which compared with $23.31
In 1020. which was considered remarka
bly geed ln view of the business cendi
tiens.
Renewed active buying cropped out
for P. Tt. T.. which advanced the Que
tatien ever a point te 32. Realizing
caused a subsequent reaction te ,12. The
Philadelphia Electric Issues maintained
a firm position, with fractional rallies,
the common advancing te 20, while the
preferred made n new top at 20V6.
Pennsylvania Railroad was well taken.
Lehigh Navigation advanced i?i te
73 en moderate dealings.
The week in the local market was
again one of satisfactory and profitable
results for the average holder of the
home shares. Te a large extent, the
position of quite a number of the local
securities recalls the lessen of Dr. Con Cen
well's famous lecture, "Acres of Dia
monds." While straining their eye
sight in attempting te find solid and
safe Investments and sinking their cash
Inte the securities of almost every
known foreign land and varied classes
of domestic preposition, they fall te
see' there is in their back yard, se te
speak, a grade nf securities that arc
practically without en equel.
This theucht Is suggested in the quiet
picking up by shrewd investors recently
of some of the stecKs ei tnc underlying
properties of the P. R. T. system. That
Is te say, what properly could be des
ignated as the original street railway
concern. As an illustration, the Frank-
ford and Seuthwark Passenger Hallway
stock. This company was Incorporated
in 1RT.4 Ipnsed in 1803 te the Electric
Traction Company at an annual rental,
Increasing year by year, nnd new, ami
for some rears past, paya the rate of
$18 per share per year. The Electric
Traction Company stock is the primary
security for the Electric ami reepie s
4 per cent bends, and the guarantee of
the Frankford and Seuthwark Railway
dividend by the Electric Traction Com
pany is a charge, of course, prier te
the Income available for interest en the
Electric end reeple'a 4s. The Elec
tric and People's 4 per cent bends, ln
turn, are guaranteed, together with all
the underlying charges, by the Union
Traction Company, whose 32 per cent
paid makes the unpaid capital liable
for the obligation assumed. The Union
Traction, ln turn, is guaranteed fl per
cent dividends by the Philadelphia
Rapid Transit Company.
The same story could be repeated an
concerning the position of all the ether
Hemphill,
uneharujsd
m -.7
sxr nnv euncq
Londen market
lil A . h .- U-r ?V
mL.yp-VT. .i.'jr j.i,.r
KlAmm'..
mmaei firfi tUst warM ' mMwWwfMTTw
Ttfrnr PnltlH Inll'iiil'ff ImTI hi
tlMetleeVlhr rnrajnt' ths around 'rent 01
the P.R.'T. 8jtenl,''Bnd benefit byUha
various' stages of the'yast Improvement
made en. the properties through the suc
cessive leasing prepositions. Nothing
could be sounder, yet' conservative In
vestors leek everywhere but nt home te
find a safe lodging place for the money
they have for permanent Investment.
f LLW I1WU vunui V ?
u rH laTm I l,i IsU M m
MOVE WITH VIGOR
Buoyancy, en Stock Exchange
Finds Little Reflection en
Outside Market
Philadelphia Stocks
Net
Itlth
1015 Am Stra..l00
70 delstpf.140
108 de 2d pf.140
m Am Oas. , 63
lOOfAtl 1 &A 5B
100 ltrill J G. 44
IjQW Cleee
chce.
103 100
18416 140
134 140
03 03
New Yerk, April 15. Tlfc buoyancy
prevailing en the stock exchange was
only partly reflected ln activity and
strength en the Curb today, movements
en thnt exchange being cbmparatlvely
narrow. Only a few Issues moved up
with nny degree of vigor. Ktrby Pe
troleum was steadier than en the pre
ceding days of the week and, after
opening at lOVi, moved up te above 11.
Mexican Seaboard was the strongest
feature, advancing from 45 te above
40 en large dealings and there was
renewed accumulation of Mexico Oil.
although that stock did net make a
material gain. Fensland was the
strongest of the medium -priced issues,
advancing from HVji te 12V4. Mara Mara
caibe ranged from ,22 te 23 and In
ternational Petroleum was traded ln
nt 15 te 10. Standard OIJ of Ken
tucky continued its advance, ranging
from 81 te'82V4.
Industrial issues were irregular. The
henvlest trading was in Eastman
Kodak, which wan also the strongest
feature, moving up from 77. te the
new high record of 70V. Klectrlc
Storage flattery, new stock, sold at -15
te 45. Durant Meters was fairly
active with sates at 34 te 35 Vi and
the Indiana stock ranged from 15 te
15. Goldwyn Pictures sold at 0
and 7.
INDVSTMAM . , ,
Hlirh Iw I.s-t
i 421
180 Elec S ter. 170
177 170lVi
G3 no new.. 45
45 43Vr- "j
200fGen Mtr. 12
12 12j-- ?
50 In Ce N A .Te
40fKennecett 31 14
80 Lk N8up O 10
4r.'i Lch Xav. 74
35 35 --
31
tt
311i-H Vl
10-
74 2
10
7
55,Penn Cent
!)
L cht
A
55
42
Man w n jr.,'
uaa i enna n n M
10 Penna Salt 74
74
10 Phil In W 34 34
lOOPhlln Ce
cum nf . . 30i 30V
34- t
m
nit i ni.a riec -i -cvu -e-,
282 de nref. . 20J. 20 V 20 4- -14
2785 Phlla RTT 32 32 32ty
Km'ierce-Ar 23 m aa
lOOfSlnclalr. . 32 32 32 2.)8
SOfTexas Pac.
C & O.. 20 20 -20 4-1
210 UnlenTrac 41 41 414- U
245 U O I.... 44$ 44U 44$
130 depref.. 53 533, 53$..
100 Yerk Rwy 21 21 21
tN'et chines n ade by comparison with last
eleven Ntw Yerk Stock Exchange.
Tetil sales. 0(110 ehare. compared with
17.9TB. shares Thursday. Thus far this
week, 88,612 shares.
PHIUlDEUmiA BONDS
100 Liberty 1st 4Vis '47....
200 Liberty 2d 4.is '42....
15000 Liberty 2d 4s '28. . . ,
200 Liberty 3d 4 Vis '28....
00.08
00.54
00.74
00.80
10.00 Acme Ceal
uuu Acme racKins
100 Am Leather 1114
100 Am Thread pref .. 4 A
10 Amer Oas A Elec. 148
30O Brad Plreprf .... 60
200 Br Am Teb coup . 17 H
CflOO Tluddy Duds 3
,100 Car Mtht 7S
'000 Cent Ter Sug .... 3i
5000 Liberty 3d 4 Vis '28 reg. . 00.82
25000 Liberty 4th 4s '38 00.04
105000 Liberty 4th 4(Js '38 00.04
"8000 Liberty 4th 4V48 '38 00.00
r0OLIberty 4th 4'4s '38 00.84
10000 Liberty 4th 4 Vis '38 00.02
02300 Victory 4s '23. . . .lets.100.74
500 Am Gas & Elec 5s 84
1000 Cens Trac N J 5 84V4
1000 Elec & People's 4s 00
23000 Phlla Elcc 1st 5s lets 00
2000 Phlla Elec 0s 101
Tetll. l?4ft.flnn. enmnr,t with lelR.esn
au ceiiuiem
100 Chi Nipple
lOOCIeve Aute '
3000Centl Mtr
1600 Dur Mtrs Ind ..
2100 Dur Mtr
7000 Eastm Ked.il; . . ,
2000 Elec Ster D ....
800tFrentetiac
700 Glen Alden C . . . .
110 Olll Saf Raz ....
800 Ooedy Tire
100 Ooed T pref prier
1100 Oeldwyn Pic ....
200 Ooedyear pref . . .
10O Hercu Pap pref .
3(10 Hevdrn Chem . . .
Thursday. Thus far this week. 11,834,830.
GRAIN MARKET
Chicago, April 15. The wheat mar
ket opened unchanged te Vic advance
from Thursday's final and early ln the
day was active nnd firm with gains V&
te lc. The foreign markets were closed,
but there were some less favorable
foreign crop advices received, and ns
stocks abroad are believed te be small
the trade took n bullish view of the
foreign requirements. The trade vvns a
great deal perplexed ever the May
situation ln Chicago, nnd n show of
strength ln this month caused n reed
flOO Hud Manhat
1000 Imper Teb .. .
2100 Int Sur Cuba
300 Int Rubber . .
4200 Julius Kayser
400 Jul Kay pref
1300 Llbby McNeil
200 I.lnc Mtrs A ,
100 N T Tranep
600 Phil Merris ..
24000 Radie
2100 Radie pref . . .
200 Rep Tire Ruh
200 Ree Meters . .
00 Rotterdam Dk
1000 merlin Pred
2600 Seuth C & I .
200 Swift Inter ..
400 Tenn Rwy . . .
WIO Teb Pred Exp
2500 Tedd Ship ...
Ofltl IT R l, ft H .
300 IT S L & II pf
I, deal of uneasiness among shorts.
uern srnnea c te 4C nigner and
ruled firm in sympathy with wheat and
en ceverlne.
iinni u s tiieam
Oats advanced VSc te Vic with the
BtlllM
etner markets.
i-revisiens were very quiet and a
1100 Wayne
Wavna
snndc lower.
100 Willys
100 West
Wheat Prev, Cle,
(tnn 11 A f
May , . .
luly , . ,
Sept. ...
Corn Cern
May . . ,
July ...
Sept. ...
Oats
May ...
July ...
Sept. ...
Itye
May ...
July ...
Uird
May ...
luly ...
1.34U 1.3414 1.3JH
1.88H W 1.24'4 1.23IJ
1.18K 1.18'i 1ASK
RTAND.VRD OILS
2100Ansle-Am Oil .... 11"4 10i
inne Atlantic I.obes ... HVj le
lOORuckeye P 1. ....ine tm
4SOaIena Oil 32 40
840 Imperial Oil Can. 10414 103
lOONat Transit 2ftti 20 ',i
Ml Ohie Oil 280 280
no Prairie P 1. 280 230
lOOHeuth Penn Oil ..184 182
18800 Stand Oil of Ind. 00 03tt
1400 Stand Oil etKywl R2'i 81
200 S Oil of Kv hlalr 82 81U
INDEPENDENT OILS
1 00O Ark Nat Oas 12 10
23A00noene Oil 13 13
3200 Best Wyom ,1 "O
BO
03H
4eal
BO'i
6M
37W
40 1
421
1.03
oevi
87 i
42H
r,ei
A4i
S8'A
37 V,
40i
4214
8';
10.7.1
10.D7
JO.flS
1O.0,-,
$2,649,400v
Wheeling & Lake Erie Railway Ce.
Equipment Trust 6 Geld Notes
Dated January IS, 1920, te mature in fifteen equal annual instalments. Redeemable as a whole en any Interest date, nt the option
of the Railway Company, at 103 and interest, en sixty days' previous notice. Interest payable January IS and July 15.
Principal and Interest payable in U. S. Geld in New Yerk City. Coupon Notes in denominations
of $1000 each, registerable as te principal only.
GUARANTY TRUST COMPANY OF NEW YORK, TRUSTEE
These Notes are a direct obligation of the Wheeling & Lake Erie Railway Company under an
Equipment Trust Agreement, between the Director General of Railroads, the Railway Com
pany and the Guaranty Trust Company of New Yerk, Trustee. The title te the equipment
under the agreement remains in the Trustee until all of the Notes have been paid. Through
supplemental agreement, dated January 15, 1922,33'4 of the Notes of each maturity, held
by the Director General, are te be stamped se as te give preference and priority tp the above
offered unstamped Notes out of any moneys received or collected by the Trustee under the
Equipment Trust Agreement in case of default. Upen the execution of the supplemental
agreement, the unstamped Notes will be outstanding te the extent of only about 58 of the
original cost of the equipment, viz., $4,587,000, en which they are secured.
Original issue $4,587,000
Paid off 611,600
Amount outstanding
Held by Director General, one-third of each
be subordinated te .Notes new offered
Notes new offered
The equipment consists ef:
1000' Fifty-Ten Composite Gondela Cars
20 Mikade Locomotives
Fer the year ended December 31, 1921, the Wheeling & Lake Erie Railway Company re
ports net income after taxes, rentals, etc., of approximately $1,800,000, available for interest
charges of about $1,435,000, including interest en the above Equipment Trust Notes.
We offer the above Notes, subject te prier sale, when, as and if received by us, at prices te
yield as follews:
Maturity Yield
January 15, 1923 5.40
" 15, 1924 5.50
" 15, 1925 5.60
" 15, 1926 5.70
' 15, 1927 5.80
" 15, 1928 5.80
" 15, 1929 5.80
Payment for Notes allotted h te be made in due course in New Yerk funds adainst
delivery of Temporary Receipts exchangeable ter definitive Notes when received.
Noyes C& Ce. Cassatt C&
Altheuab tbtK ettteretati arc net guaranteed they have been obtained
'....
St
icit
BOO Continental :
?
Qi O Cinten A r.n
OOO Creele. Byn YtH
iign Dominion oil ,..,,, lev
4100 Enslneere Petrel , sa
saoe Federal oil ,. jx
SSOOFeneland fill
0
ISOOOleareek oil
I A.
e"w nuunn uii . . .
bpuu ini i-eirei
.- 1RU ?..,
4700Klrby Pet n 2
shoe L.iinsten ret ... 'in 'in 'in
4aoOL,yene .pt. i.,.;,v oe siH
j oe Mariana Mex , , , , 3 4
109 Marin oil 1
liOOMerrltt Oil ...,u ll
afOOMntlee Oil ..!,'.. a
21800 Mexico Seaboard .. 47
S800 Mountain Pred ... 1 J
8800 Mutual Oil ....... n
900 Nat Oil N J 1:
2(H) N T Oil .....,., Uti ii! ',
2000 Ohie Hanrnr a .'
7800 Omar Oil iu f. f
1480 Premier Ref s 2 a?
11000 Red Banks l?r" 15s ,
4tuu tf Mil VMB see
2800 Salt Creek Pred
yoesapuipa rut ,
ltiv peaoearn uu at
aaeu Bimme rei
800 Sinclair Cent
2900 aseiiK en .....
1800 Seuth Pet ft Ret
800 Southern Oil
B000 Texaa Ranaer
8000 Texon . . .' 63
100 Tidal Osm 14H
lnr .,11,111a ......... mya
600 Victeria Oil (new). 88
800 Wilcox 4i
1000 T Oil 18
MINTNO
800 Alaska Or Celum . 3V4
7000 Alpha 40
2000 Amer Tin A Tuna . 8
200 An Am C of Se At 22U
20000 Bl Ledte 25
27100 llest ft Ment 24
4S0O0 net tient cons oe
ifcKln Caled Mln
n
28B0O Canada Cep . , . .
shoe Cens Arlsena . .
0000 Cens Cep M . .
3000 Certes Silver . .
100 Cressen Geld .,
400 Doleres Esper .
2000 Eureka Croesus
BOOOOadeen Copper .
3000 Oeld Cens
IBOOOeldfleld Fler ..
7000 Hard Shell
2fc.T HirmlM Divide
BOO Hews Sound ....
3uu independ Lead .
000 Jftrema Verde , .
100 Kerr Lake
200OMcKln Dar ....
1000 Julius Cens . . . .
65
4
e5H
-nt
V'
2'i
21
13
33
27
....v.- Jfi .'rt lr
47
47
MS
143
11
14.
NEW YORK BANK STATEMENT
no
60
17 17U
Twi-iiaa Reaepva RmiIiiiiH 4a 4 aj
n
n
n.... ........ ........ .. rll1l,
410 Heavy Lean Expamlen
3i
108
li
30
7!i
15
34i
ll
11
48 ;
Slfl
13i
714
OH
381
00
108H
30
ig&
?eS
48H
40
220
IS',
38 U
S
I
20
co prer.ius
l:
New Yerk, April 15. The 'actual
condition of the Clearing Heuse ban.i
and trust companies for the week shorn
that they held $1,040,410 in excen of
legat requirements. This is a decrfiN
et $12,715,540 from last week. Leu
nnd discounts showed expansion et
$32,578,000, while demand depeilti
jumped 552.516,000. With the tt.
creased liabilities, reserve credit at the
Federal Reserve Bank decreased S3.
175.000. . .
Details follew:
AVERAGE
30
iSs
3AU
70 l
4Ri
11
40H
220
18'4
7MJ
.' 38'i
; 00
Hi
12T4, TilJ'i
: A'
. 20 i
. as
. 60
. 24
. 8214
. 43 15
.100
1
8i
2815
00
EISCT") Hiri.e .. ... .U.O..U l-lW,ll
Asrreaaiv reeerve .ni.ipa.uuu 030,1
Leans, etc t.toi.eTe.ooo 4,401,1
25S M
f:an in vauua
member banks,.
et, 033,000
13
in
3 '4
3H
60
Reserve In mem
ber banks and
reeerve banke . .
Reeerva In State
banke and truat
cempanlee
Reserve In Stats
banks and truat
company deposi
tories 3i
3U
38
24 H
Ml,,
321.000,000 B18,:8t,Hl
7.824,000 7,e4:cl
24H
824.
4SW
ion
UK
,5A
02
. li lB'i
. 2H 2I
. 73 73
. li 1A
. 1W IVi
Net dem. deeaa 3.033.723.(100 siuiiti I
Time deposits ... 277,324,000 2H7,0B7 4U
circulation
l.U
33.835,000
United NiiIm de
11 . II
posits deducted . 01,410,000
ACTUAL
This Week
Excels reserve.. It, 040,410
Ascreaate reserve 5311.320.0011
nnnv S Heffman .. 22Vi 21i 2li
loe Vn rreflt fcharlns ll'J BJ4
ROD Un Ret Candy.... 5 4't 4
100 Union Carbide ... B8 68 08
coal
Ceal 14
Cerp 14 14S
I-eane, etc 4,484,383,000 4,452,OO9.00e
Tn atK In a eaeiltai
Knlttina .... 6S
ins .... " OH
and member
banks
Reierve In mem
ber banks and
reserve banks..
Reserve In State
banka and trust
companies ...'.
Reeerve In state
banks and trust
company depoa depea depoa
'terlra Net demand de
10'i
00
82
103
2n u
280
230
184
P0.
21
12
13
71
C12.004.000 Sl,70t.tl
S. 003. 000
posits 3,081, 825.000 3.020.JM.OOO '
Time deposits... 28H.402.J0 27O,84.00il
Circulation .... 33.034,000 33.910.UOJ
Un'tedStatesde-
nenlts dedlirld. 46 73ft O'Vl R i
maturity te
$3,975,400
1,326,000
$2,649,400
1 0 Mallet Locomotives
5Switching Locomotives
Maturity yj-id
January 15, 1930 5.80
" 15, 193i 5.80
" . 15, 1932 5.80
" 15, 1933 5.80
" 15, 1934 5.75
" 15, 1935 5.75
Ce. Freeman , Ce.
from source, we believe te be tellable.
I
i? I!
f
21 en
'u '
22H M
ft'
3
2211
22
22
75
5
BO
.1
i
24
8U
22
10
11
.24
:s
,i
H
:i
-
A
it
::i
n - n u r
' MJ i i5
MM'
00 kl
!,. -if s
This week r.ait Mi, :
2,222.Th
5.144.
i.t.Jm
02.9H.Hj
0.260.000 9.5U.M,
33.743.0ti
ui.30J.Ml
I.ait WmW
tt4.66I,l
u4j,nA.,,o()ey
02.203,000 63.71I.M)
7.6U.0M
0,320,000 0,303.000
f,')'.( vr.?ifu
&li,!UJfiiteliMdtii