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12 INVESTMENT BONDS Yielding about 4 /2% to 5 4% For r long period cf years we have been making: a careful study of the investment business as re lated to the individual bond buyer. It is our experience that the aver age investor prefers to surround j his or her principal with every } reasonable 6af>gv.ar«! rather than to purchase bonds yielding in ex cess of a fairly liberal rate of in come. Based upon this situation : as we understand it, we have issued , a circular describing several issues ; of carefvlly selected bonds now i selling at prices to yield about 4j/2 to 514%. The bonds do not represent new forms cf investment, which have yet to establish their stability and I permanency of value. On the con i trary. they are secured upon prop erties of demonstrated value and earning power. They have been purchased by well-informed in vestors and conservatively man aged institutions, and have a rea ! sonably broad market. We recom mend them as being, in our judg ! ment, thoroughly safe and conserv ative investments, which should prove to be of growing value. ■ Write for Bond Circular No. 295. ! Spencer Trask & Co. i William and Pine Streets ! New York Albany. K. T. — Boston. Mass. — Chicago. Til ror bale 50 Laclede Gas. 100 Urvori Carbide. 50 Albany Trust Co. 50 American Thread. 100 U. S. Industrial Alcohol. 3 Chi'ds Co. Com. Wanted 10 Celluloid Co. 15 Hartford Carpet Com. 50 Bryant Park Bank. 100 Arpc-ican Manufacturing, "0 Union Typewriter Com. "£«- Southern Indiana 4^--. Hallowell & Henry Te! 4996-7-6 Broad 52 Beavrr St. R. L. DAY & CO., • 37 Wall St., 35 Congress St NEW YORK BOSTON HIGH GRADE INVESTMENT BONDS Municipal end Railroad Members New York and Boston Stock Exchange* Fortnightly letter by an authority. analyzing- Industrial and financial condi tions, cent on request. It Is our custom te furnish for the assur ance at our customers a. quarterly statement •worn to by certified Public accountants. Warren W. Erwin & Co. Members Consolidated Stock Exchange of N.Y. Investment Bankers 54-56 Broad Street, New York. Interest allowed on deposits, subject to ehrck- Commission orders executed for each. or on ample margin. New counts foliclted. Convertible bonds^| We have just issued a new edition ! of ourWali Card tabulating listed and I unlisted Convertible Bonds, showing I conversion prices and privileges, I rate?, method of computing, etc. I _ Sent upon request. I SWARTWOUT & APPENZELLAR I ■ Members New York Stock Exchange. 44 Pine »t.. New York. ° M j SiOO.OOQ RIO GRANDE WESTERN I 1 First Trust 4s, due July i, 1939, to net 4.30% Price and particulars on application. CHISHOLM & CHAPMAN, Members New York Stock Exchange. IS Wall Street, New York Telephone 180 Eertor. American Light & Traction American Gas & Electric Denver Gas & Electric Co. Empire District Electric Co. All T^arketable- public utility securities. WILLIAMS, McGONNELL i COLEM&N <•»•> Wall ■-' , K. Y. 'Phone 5*521 John. INVESTMENTS^ s*NassauSt* "NewYorfc Wm. A.Read & Co. Bankers 25 Nassau St., N. Y. BOSTON CHICAGO BALTIMORE FISK&ROBINSON GOVERNMENT BONDS INVESTMENT SECURITIES New York Boston Chicago ELECTION NOTICES. —OFFICE OF— TITLE OI'AKANTEK .VND TRUST COM PAXV. 178 Broadway. New York. January ISth. 1910. ' At the Annual Meeting of the Stockholders of this Company. he-Id January ISth. 1910. the following gentlemen were duly elected trustees: CLASS EXPIRING IN THE YEAR 1911: Robert Goclet. CLAPS EXPIRING IN THE YEAR 1912: Robert W. DeForeet. CLASS EXPIRING IN THE YEAR 1813: Frank Bailey. Ranald H. Macdonald. Cfa«urlee S. Brown, William J. Matheson. Edward T. Bedford. Frederick Potter. Julien T. Davies. Charier Richardson, Augustas D. J-j:::;a.rd. Paul M. Warburg. At a subsequent meeting of th« Board. th« •foJlowiEg- OCWrs were unanimously elected: CLARENCE H. KELSEY. President; FRANK BAILEY. Vice- President ; EDWARD O. STAN LEY. Second Vico-Preeident, Manager of the B&nkl2ig Department; CLINTON D. bur- DICK. Third Vlce-Preeldent; J. WRAY CLEVELAND. Secretary; FRANK L 6NIF FEN. Manager of the Brooklyn Banking De partment; JOHN W. EHEPARD ar.d CHARLES C. DICKSON. Assistant Treasurers: NELSON B. SIMON. HORACE ANDERSON. DAVID BLANK. CLARENCE C. HARMSTAD, Asslst- SStt K'j.-retii.rieE ■ T t V.'RAY CLEVELAND, Secretary. THE FQCRTII NATIONAL BANK of tie City of New York. New York. January 13th. 1910. At tbe an&ual meeting 1 of the stockholders r,l /his Bank, held January 11th. 1910. the fol lowing named gentlemen were unanimously t-lccted Director*: — J. Edward Simmons. Corneliu* V Blls«. T. Frank Macvllle. Robert W. Stuart. Thomas H. McKlttrick. KJchardT. Wilson. Mortimer L. Schitf. James G. Cannon, L F. Loree. William S. Opdyke, Edward A. Eheptrd. At a meeting of the Board of Directors, held this i&y. Mr. J. Edward B!rr.mon«, Presi dent, and Mr. James G. Cannon. Vice-Presi dent, were unanimously re-elected. CHARLES H. PATTERSON. Cashier. GENERAL FIRE EXTINGUISHER COMPANY. The Annual Meeting of tr.e EtocUioJdera of this Company for the election of Directors and for ecch other buclnew as may properly come be fore them, will be b*rld at the Company's Office In th« <rerrean-American building. No. 1 Ll!> »rty 6treet. New York City. N. y.. at ten o'clock a. m. Wednesday, January 28, 1910. Transfer book* will be clot. A on January 16th, 18J0 and reopened February 2nd, IS#IO. F. W. HAI'.TWELL Secretary. I'rovi dence, R. 1.. January 11th. 1610. * DVERTISEMENTS AND fcUBSCRIPTIONS for The Tribune received at thtlr Uptown for Tr.e Tribune received at th«! r Uptown Office No 1364 Broadway, between 36th and STtb eta., until 8 lock p. in. Advertisements received fct the following branch offi..«c at itgu'inr office rates until % o'clock p. m., viz.: i « -'". eve., »• c. cor. I'M. «♦ : l.'.S 6th aye., or. i*u» «t.; 504 E«st !4tb tt.; 217 IVcst 42d st. STOCKS END WEAK AFTER EARLY GAINS NEW YORK STOCK EXCHANGE SALES— TUESDAY, JANUARY 18, 1910. gh .' rs |Netl r— I Actual Sales. I Closing. sold. Ichgej I Pp., HULow|Flnl)Bid.|Ask 4001— % AUls-Chalmers Company.... 14% 14% 13% | 13% 13% 13% «,. 200— % Allis-Chalmers Company pr 50 50 50 50 50 52 34,600 +% Amalgamated Copper 82% 84% 1 82% 83% S3 53% 9C*>—l American Agr. Chemical.... 45% 45% 45 45 45 15% 500 +14 American Beet Sugar 43% 44 43% 44 43% 44 7g -% American Can 12% 12% 12% 12% 12% 12% .$22 - V American Can pr 79% 1 79% 79 79 75% 79% 3,300 + % American Car & Foundry.. 65% 67 65% 66% 65% 66 300 — % American Car & F'dry pr.., 116% 117 115% 117 |ll«%|iaO 4.V» * 1, American Cotton Oil i 63 I 63% 63 . 63% 63%: 63% 220— American. Hide & Leather.. 7% 7% 7%! 7% (7% 7% 1.200— American Ice Securities ! 24%. 24% 23%' 23% 23% 24 100 1 American Linseed 16 16 il6 16 16 16% 200 4 % American Linseed pr i 44 !44 44 (44 J44 I 44% 1.500—% American Locomotive j 55% 56% 55% ! 55% 55 ! 55% 370 +% American Locomotive pr.... 113% 114 113% 114 : 113% 114 400—1% American Malt pr 35% 36 I 35% ! 36 ! 36 i 36% 22,700 + % American Smelting 93%; % ' , 93% 94 ; 93% -94 300; ♦ % American Smelting pr....... '. 109% 109%, 109% 109%: 109% 110% 100 + % 1 American Smelting pr 8.... 59% 59% 89% ?9% 89% 59% 400, + % American Steel Foundry.... 64 65 " 64% 64% 641* 65 1.900 +1% American Sugar '122 V, 123%!122 I.*-123.1231 .*- 123 .123 " 123% 3.526' 4 1* American Tel. & Tel 137%" 137% 137% 137% 137% 137% 300— % American Tobacco pr 94 :94 94 94 93% 94% 200+% American Woolen 133 33 33 !33 :33 i 34% 100. + % American Woolen pr !101%!101%'101%101% 101 102 6,900, + % Anaconda ' 49% 50%: 49%' 49% 49% 49% :C.SOO— % Atchison 11S% 11»% 118% US 1 -- 118% 118% 100! Atchison pr 1 103%" '303% 103% 103%*- 103% ; 103% 700 +1% Atlantic Coast Line 131 '131% 131 131% 130% 131% 4.0001— % Baltimore & Ohio .116 116 V, 115% 115% 115% 116% 100, i Baltimore & Ohio pr i 93 93 93 i 93 193 94% 6.500' +1% Brooklyn Rapid Transit 75% 76% ; 75 ' 75% 75% 75% 1.300: -2% Brooklyn Union Gas 158 159% 157 159% 155%1160 25 Canada Southern 68% 68% 65% 68 l 4l 4 6S |70 2,500 Canadian Pacific 179 179% 178% 179% 179%! 179% 4,200 +% Central Leather ' 43%' 44 43% 43% 43% 44 100,— ■% Central Leather pr 107% 107% 107% 107% 107 V.. 14,900 Chesapeake & Ohio 86% 1 87% 86% i 56%! 56%" 86% 400; '.Chicago & Alton 63% 64 ! 63% 64 i 63% 65 2.500 +% 'Chicago Gt. West, new : 32% 33 ! 32% 32% 32% 33 1.200 Chicago Gt. West, new pr..' 60 , 60% 60 | 60%; 60% 60% 27.100- Chicago. Mil. & St. Paul... .147% 149 ;146% 146% 147 50, ' Chicago, Mil. & St. Paul pr 168 11681 168 !168 1163 168 169% 2.611. +% , Chicago & Northwestern... 155 158% 157*4! 158 157% 158 4,794! Chicago & N'west. rights.. 14% 14% 14% 14% i 100-% Chicago Term. Tr ! 813 8 13 I 1 100 j Chicago Union Trac 4%' 4% 4%: 4% 4% 5 100-1% C. C. C. & St. L 79% 79% 79%. 79% 79 ! 80% 4.300, + % Colorado. Fuel & Iron ! 43% : 45% 43%! 44% 44% 44% 100-2 Colorado Fuel & Iron pr... 113 113 113 1113 112% 120 600 +% Colorado & Southern [ 58 i 58% 57% 1 57% 57% 55% 100 Colorado & Southern 2d pr..] SO ;80 ISO ;SO SO 81 3,100— 1% Columbus & Hock. C. & 1.. SS% 89 ! 87% 87% SS ! 88% 12,200! +1% Consolidated Gas 1 151% 153 151 .151% 151% 151% 900 + % Corn Products Refining 20% 20% 53% 20%! 20% 20% 100— % Corn Products Ref. Pr S4 [84 i 84 " «4 : 84% 54% B.ooo—l Comstock Tunnel 34 .34 133 .34 \ 60 Delaware & Hudson 177% 177%! 177% 177% 177 177% 2,600 Denver & Rio Grande 44%; 45% 44% ! 44% l 44% 44% 700—% Denver & Rio Grande pr... SO% SO% SO :SO"I SO SI 600—% Distilling Securities 34 : 34%". 34 ! 34% 34 ! 34% 300— % iDuluth, S. S. & At | 15%! 15% 15% 15% 15% ! 16% 250-1 Duluth. S. S. & At. Pr 30 130 j3O 130 29% 32 5.2001 + % Erie 30% 31% 30% 31%! 31 ' :,1%: ,1% 1,200 +% Erie Ist pr ! 49 : 49- | 45% 49 ! 48% 49 500! +% Erie 2d pr ' 38% 39 ! 38%: 39 i 38%; 39% 100— a Federal M. & S. Pr : 84% 84%: 84%! 84% 83% 85 " 125+1 i General Chemical Co. pr.... 104 104 104 104 103% 1C4% 1.152—% General Electric Co !154%154%154 154% 154 155" 19.900—2% Great Northern pr 133% 133% 131 131 !131 131% 3,000—1 Great Northern Ore ctfs.... 73% 75 ■73 (73 173 73% 35 illlinoisi lllinois Central 142 142 142 142 142 1142% 15.100— % Inter.-Metropolltan 24 1 24% 23% 22". 23% 23% 12,600,'— % ! Inter.-Metropolitan pr ! 60% 61%! 60% 60% 60%: 60% 1.375 + % International Harvester 121% 122% 121% 122% 121 122 1,7001—1 Int. Steam Pump 50 ) 51%! 50 150 ! 50% j 50% 400) — 1 Int. Steam Pump pr ! 89% 89% 89 I 89 j 89 ! SO 100 lowa Centra! '. 26 126 26 !26 I 25% 2«% 1.850 + % Kansas City Southern j 40 I 40% 39%' 40% 40% 40% ■ 5.900— ILaclede Gas 107% 108% 107 107%'107%!105' 1.200! + % 'Lake Erie & Western pr... 61 I 62 > 61 I 62 I 61% 63 2,1001 +% Louisville & Nashville 153 153 . 150% 150% 150V»!l51 8001+2 Mackay Companies : 86^' 87 ! 86%] 87 I 87% 91 Total sales for the day, L 157.980 shares, compared with 596.187 shares for the corresponding: day In 1909. Total sales. January l to January 18. inclusive, 13.255.542 shares, compared with 11,977.003 shares for the same period in 1909. FINANCIAL MARKET MOST STOCKS DOWX. Call Money Firm and Sterling Exchange Lower. Further liquidation was reported In the early operations In yesterday's stock market, and while fair support was ex tended in all the leading issues the general character of speculation did not encourage the expectation of the de velopment in the immediate future of an active bull campaign. Covering of short contracts on the low prices made in the Initial dealings brought about a higher level for the majority of 6tocks at the end of the first hour, but gains were not large, and before the close the ten dency again was in the direction of lower quotations, with losses of a point or more In the leading issues from the high points of the day. New York Cen tral ended II 3*3 * under Its best, Amal gamated Copper 1%, United States Steel common II I,*.1 ,*. Reading l l^ and Union Pacific 1% The general list ran off rapidly In the last half hour, the down ward movement apparently being based on the failure of genuine buying to ap pear on the midday advance, which was due entirely to the retreat of the bear element. Some buying was= reported for the account of substantial interests soon after the opening, but operations of this sort represented supporting orders rather than efforts to inaugurate an active upward movement. United States Steel common, for instance, whi^h was conspicuously weak at the opening, was taken by houses that are identified with banking concerns, but no attempt was made to hold Its price when bear pressure developed In the final trading. Heavy selling in St. Paul. Northern Pacific and Great Northern was an ef fective factor in inducing attacks by traders on the general market Jn the afternoon The Street believes that dividends on the stocks of some of the roads In the Northwest will be reduced, owing to the heavy Increase in the capi talization of the roads in the last fpw years and the failure of the companies earnings to increase in proportion to the enlarged dividend requirements. And the fact that liquidation of the shares in recent weeks has come from substan tial quarters naturally encourages speculative raids against the Issues. Capital expenditures by the railroads in the Northwest may induce the directors of the companies to adopt an extremely conservative policy in the matter of dividends, but it should be borne in mind that the enormous sum? of money that have been spent on the various properties eventually will strengthen the investment value of their securities. St. Paul closed 2 l i under its heft prire and at a net loss of %. N"orth«»rn Pa cific showed a net losr, of 2% and Great Northern a net loss of 25>i. Rock Island was also a weak feature, closing 2% down. United States Steel common was dealt in to the extent of more than 380,000 shares, out of a total Jn all issues of more than 1.10f1.0n0 shares, and end^d I>i under the high and at a net decline of %. Call money did not go above 4 per cent, while sterling exchange was weak under the pressure of heavy offer ings of cotton bills There also was a better supply of grain bills. According to the views of the best In formed men in the Street, there Is little chance of an Increase in the dividend on the common stock of the United States Steel Corporation at the meeting of the directors next week. The earn ings of the corporation, however, ar-j growing at a rate that warrants the expectation of a 5 per cent basis for the stock before the c-nd of the current year, with the possibility of an advance to this level in the second quarter, our in view of the fact that there have been two successive increases It is not likely that the stockholders will receive an additional payment for the quarter end ed December 31 Xt-r earnings for the last quarter of |fM will be between $41,000,000 and $43,000,000, and if they NEW-YORK DAILY TRIBUNE, WEDNESDAY, JANUARY 10, 1010. Sh'rslNet I ~ j Actual Sales. I Closing. sold, ichgej I Op. Hl.|LowlFlnl|Bld.|Ask SCO + M Mackay Companies pr j T7V> 77V«| T7V4 "V " ! 78 100 ; + V Manhattan Elevated 137*1 13T?i 13744 1361.4 138 400— % Marine 6^, 6% 6% ! 6% 6Mj J 1.200:— »4 Marine pr... „ 21 I 21V 20V21 ! 30* 4 21% 1,090—114 Minneapolis & St. Louis.... 48*4; 45% IBM 48% 47 ! 45 350 4lVi M.. St. P. &S. S. M 133^ 136 ISftAJ 136 134*4 136 280'- I.J M.. St. P. & S. S. M. Pr 150y 4 151% I laOyiSl** 151% 153 400, M.. St. P. &S.S. M. L L... 92 |92 j92 92 91% ■ 7,720— U Mo., Kansas & Texas 45 46»4 45 45 44"% 45 100— % Mo.. Kansas & Texas pr... 73 73 73 "3 172 73% 3.600! +14 Missouri Pacific........: 67 67^ 66% 67 167 6TV4 130; +»4 National Biscuit lU%|IIS% U3 a i 113 i: 113 114 6OOI— % National Enam. & Stp j 244 24V4 241% 24'< 24V4 2i\ 100—2 National Enam. & Stp. Pr . 961 A %i., '«:: . ■■>;:.. 95 ; 100 1,4001 + % (National Lead 85% 86V4 SSVI 65^ 85% l S»H 100 -IV, National Lead pr 109 109 109 109 108 10S% 4.100 +»s» s National of Mexico 2d pr.. 25^j 26^! 25^4 26 25% 25% 200- % New York Air Brake BSMt 89 88% 1 89 88 |89 16,4001-1% (New York Central 118% 119% 117% 117% 117% 118 200,'— New York. Chi. & St. L.... 61 j6l 59 .I 59 58 163 100! N- v., N. H. & H. subs 146 146 146 1146 200! — % N. V.. N. H. & H 155 155% 155 155% 15414 156 3.430 New York, Ont. & Western 45»4. 45^ 44^i 44*4 44% 45 1.000 +^4 Norfolk & Western 97 : 97% 97 i 97i,4 97 97*4 2.350 North American 75»4 791^ 7SV S 79 1 79>4 80 23,500-2% Northern Pacific 134V 4 135 "131% 132% 131% 132V6 1001 — %. Nor. Ohio Tr. & Light....... 36 36 136 !36 ; 35% 36ii 100—4 Pacific Coast 2d pr 114 114 114 114 111 116 200 +14 'Pacific Mail 35 35 34 34 3314 34 300 +Vz Pacific Tel. & Tel 40 !40 j 39% 40 39% 40 29.900— % Pennsylvania Railroad 132% 133% 132% 133 133 133H 2,150 +14 People's Gas & Coke 113 113^ 112% 113V4 113^113% 100 +% P.. C, C. & St. L. 98 i9B i9B i9B 97U,; 9S 1.700 4 % iPlttsburg Coal 2314 2314 22% 1 23 22% 23 500 +1 jPittsburg Coal pr 76 77% 76 77% 77 78 700 +Vi Pressed Steel Car 46% 46%! 46 46% 46 46% 2,625+% Pullman Palace Car 191 191 190 190 190 191 500: Philadelphia Company 101 101 |100% 100% 102 100- % Quicksilver : 3% 3% 3%, 3% 3% 3^ 600; + % Railway Steel Spring )47 '47 ! 46% 46%! 46 46% 100 —% i Railway Steel Spring pr.... 106% ': 106% 106 V, 106% 105 107 121.300 + %• Reading 161 1163% 161% 161% 1.600— Reading 2d pr 101% 101% 100% 1100% 100% 1101 3.300:— % Republic Iron & Steel j 40V, ! 40% 40 ! 40 " 1 40 I 40% 500 +1 Republic Iron & Steel pr....H00 " 101 100 101 101 102 81,400—2% Rock Island 46 i 46% | 43% 43% 43% i 43% 200—1% Rock Island pr 85% 85% S4V> 84% 84% So% 2.200—1% St. Louis &S.F.2d pr 56 *! 56% 55%| 55 l -s| 55 I 55% . 700— % Sloss-Sheff. Steel & 1r0n... 80% 82% 80% 82% ISI !82 49.810— % Southern Pacific. 129% 131% ; 129 7 & 130%!13r>% 130% 2,000!+% Southern Railway..' 30% 31 • 30% 2f)~l 30% 31 2.100—1% Southern Railway pr -.. 69 j 69% 67% 67% 67% 67% 200 +1 So. Porto Rico Sugar 85 185 ISS 85 82% S5 100 +% Tennessee Copper 37 i 37 37 37 1 2.600— 14 Texas & Pacific ! 32% 33% 32% 32% 32% ! 32% 600 i + % Third Avenue Railroad 15% 16% 16% 16% 16 " 16% 800 +% Toledo Rys. & Light 13% 14% 1 13% 13% 13 13% $00- % Toledo. St. L. & West 49 49% 49 49% 48% 49% 400- Toledo. St. L. & West. pr... 69% 69% 1 69% 69% 68% 69% 725—% Twin City Rapid Transit... 113 113% 113 j 113% 113% 114 350—3 Union Bag & Paper pr !70 ]70 170 j7O 170 174 135.200'— Union Pacific 192 193% 191% 191% 191% 191% 600+% Union Pacific pr 100% 101 100%|101 100% 100% 10 United Dry Goods 120% 120% 120% 120% 119% 120% 207 — % United Dry Goods pr 112 " 112% 112 112 ' 111% 112% 300—% United Ry. Investment j 39% 40 "| 39% 39% i 150 U. S. Cast Iron P. & F ( 29% 29% 29% 1 29% 29% 30 20 U. S. Cast Iron P. &F. pr. 82 82 82 82 180 84 I,ooo— U. S. Realty & Imp 80 80% SO SO 80% 81 1.400— % United States Rubber 46% 46% 46% 46% 46 46% 2.100— % United States Rubber Ist pr 112% 112% 112 112 112 ! 112% 371,7001— United States Steel i 83% 85% i 83% 83% 83% *1 1,900 United States Steel pr 122% 123% 122% 123 123 123% 2,800 : Utah Copper ] 52% 54 52% 53% 52%! 52% 4.100!— % Va.-Carolina. Chemical 63% 55 53%! 54 54 ' 54% 2.100 ' Wabash 22% 22% 22% 22% 22 I 22% 6.000! + % Wabash pr 49%! 51 ! 49%! 50 i 49% 50 6.3001 +% Western Maryland i 51%' 52% 51%! 52% 51% 52 1.300!— % Western Union Telegraph..! 72% 73% j 72% 73% ! 73% 73% 900! +1% WesUnghouse Mfg 71% 73% 71% l 73% 72 I 73 700 +% Wheeling &L. E... 6% 5% 5% 5% 5% 5% 400 Wheeling &L. E. Ist pr....] 11 11 11 11 11 112 2.550, + % : Wheeling & L. E. 2d pr.... 6% 7% 6% 7 6V. 7 300| Wisconsin Central... | 48 ,48 | 48 | 4S ) 47%"j 50 reach $42,000,000 ther* will be a surplus after dividends of almost $16,000,000. Estimating the earnings for the last quarter at $42,000,000, the corporation earned more than 16 per cent in the twelve months ended December 31. A few speculators believe that the direc tors will increase the dividend next week in order to check the declining movement in Stock Exchange prices and to encourage an active outside demand for securities. BOND MARKET SALES. 5000 Japanese 4**6 95 I 4000 Mcx C Con 4s 97% 2000 USof M 4s. 94 7 *. 10000 do Ist Inc. 27% 1000 Arg 6s Rets. 95?, 2000 M X & T Ist 6000 Sao Paulo 6s 96»» 4s 9934 6000 Va 6s Defd 3000 do 99% Ctfs 49 100" ■ do Ref 45.. &4Vj 10000 do SO 13000 Mo Pac Ist Col 3000 X V City 4 'is 6s 102',i 1957 new.. 1000 Nas El R R 64000 do 4s 1959. 99 » 4s 81% 12000 do Rets ... 99% 15000 Nat Rys of M 500 Adams Ex 4s 93 4V>s 944 10000 Alb & S 3Us. 09% 5000 do &4*» 2000 Allts-Chal 5s 84 1 10000 do 94-* 2000 do 53% , 11000 N V Cen Gen 25000 do S3S 3Hs 91% 20000 Am As C 55.102 12000 do L S Col 1000 Am Cot Oil 3Us 81 4^s .; 97% 2000 do M C Col 1000 Am H & L. 3 : ? s .... SOH 6s 1014 23000 do 79 7 » 4000 Am Spirits 6s 96 1000 N V G & E L, 59000 Am T & T H & P 4s. .. 83*4 Cvt Is 103 1000 do 5s 102 ; 5000 do 103 V» 21000 NYN H& H 10000 do 10314! Deb 6s 134 K'»0O Am Tob 6s . . 106"* j 10000 do 134U 87000 do 4s 78 3000 do Cvt 3H5.100 » 2000 do 7741 2000 do 100?; 1000 A T & S F 1000 N V Tel &■ AdJ 46 Stpd 94 % Rets 98 1 * 4000 do Gen 4s.loo>* 14000 do 98 ; 9000 do 100> 4 I 1000 do 984 15000 do Cvt 55.. 118% i 1000 Nor & W Con 6000 do US 1 * 4S 99 27000 do Cvt 48..11S 1 * 100<M> do Cvt 45... 101 10000 do 118%! 2000 do 100's 10000 At Coast L. & 6000 do 101 N 4s 93 5000 Nor Pac Gen 10000 do .:...... 92\ 3s . . .s6F. 73% 4000 B & O Gold I(V*> do 73 » 4s 99% 3000 do 73»i 3000 do 99% 7000 do 4s 102% 500 do 99»; 11000 do 102 1 * 2000 do 99 2000 Ore Sh L Ist 20000 do Pr 34«. 92 l 4 Con 5s 113 7000 Beth Steel 5s SS»i 1000 do Gtd Ref 9000 do 884 . 4s P4*i 1000 do 88 T i 5000 Pac T& T ss. 9»4 13000 Bkln Rap Tr 2000 do 99 Gold 55... 1044 1000 do 99 1 * 13000 do 4S 84% 7000 Perm 3U S 1915 96H 9000 do .. 844 2000 do ..'. 96 5000 do 64 i 18000 do 964 5000 Bkln Un Gas i 2000 do 4s 1948 . . 104?k 6s 103 I 1000 do Gtd Gold 6000 Bur C R & N 4s 98 Cl Tr .1144 3000 . do Gtd 4H5.105 1000 Can So Ist 3000 do Gtd 313 1 - s Ext 6s l 04 T i Ctfs . .... 97% 2000 C of Ga Con 5000 Per? Mar Ref 5s 108% 4* 784 32iV»D do Ist inc. 88 1000 do 78% 60000 do 2d Inc. 82 10000 do . . 78 S 8 5000 do 3d Inc. 82 4000 Reading Gen 2000 Cen Leath 5s 99% 4s 994 8000 do 994 1000 do .. . :»!''- t 1000 do 99% 3000 do .. '•''• ): s, 7000 Cen Pac Gtd 2000 Rich & Danv 4s 9TM Dob 5s 106% 4000 C & O Gen I 1000 R W & Og 5s 109 1 , 44s 102*4 2000 St L I M & S 2000 C & Alt 3'«? 74% Gen 5s 109 4COO do 744 6000 St L&S F R 400.) do 3s 75 I R Gen 55... 88% 1000 C & E 111 R j 24000 do KBM, &1mp45..55»4 1000 do 88% 1000 C & W Ind I 1000 do 6S s i Con 45... 92%! 3000 do SS*4 20000 CB4Q Gen | 10000 do Ref 45. . Si 4£ 99 ! 7000 do . . 844 20000 do Joint 4s 96%! 2000 St L, San Ist 26000 do 064 4s 93 63000 do . 06% ! WVV) do Con 4s . 75% 15000 do Reg . 064 10000 do 78% 1000 do Deb ss. 101% 3000 San An & A 6000 do 111 Dlv P4s 88 3Hs ..... Bs\ 10000 So Pac Cl Tr 1000 do Swn 4s. 89 I 4s 934 1000 C M & St P 1000 do Ref 45.3. 94% 4s 1934.. 3. 03% 3000 do 94 6000 do Term 5s 103 9000 do 94 7 10000 C R I & P 1000 do Cvt 4s Gen 4? 864 sSF.IO2'J 2000 do Ref 45.. 91%: 74000 do 1034 If**** do 9] 150000 do . 103 18000 do 8114 IMOOO do . . . 1O3«4 28000 do RR 4s SI I 1000 d . ....55F.103 16000 do 80% 10T.0 do c. 10314 8000 CCr &s L 30000 do 103% »yw» Gen 4s 934 75000 do 1034 3000 Col & .-, R.f I 5000 So Ry Gen 4s 80% *™« & Ext 4 '"= 3 974; ! 4/vh> <!<-> 80 T i S^Ort do r<7~. 1000 Third Ay Con 11000 Col Ind 5s 4s ... «W% ,^^v sSF - 81 2»W«0 d-, prp-1 . «7% lf^ do -. 2000 d 0... . ml 2000 Corn Prod S 70<->OO do . 6S n^ F5 " 1931 •a 5 K*»Tol St I. &XV ?,or,o do 1934... 86 4s '. BMC 4000 Den «• R G 1000 do . . 81 _ Ref 5s .94 ' «o<V> do 34« .'<>', < ™ do . CM't'l.V'iO Un Pa Ist 45.101H 1000 Dei M& M L ! N0..0 do .'. . 101% (Amtv Q "8 40 19i«V> do Ist ref 4s 1.7 1000 Dlst Sec Csb 74 i&soitf) do <"vt 45... 112 2<">o do . 734 15000 do Ill", 20000 Erie Gen 4s .76 25000 do . 111*4 5000 do Cvt 4a 50OV) do 1114 A M 1000 V B R A Imp 5000 do 7O'-« 5t 92% 3000 Gr Bay Deb I !>IN) do . D 2 54 B 15 i 22000 do . M 3000 do ... . 18% 1 0000 13 S Huh fls. . . 103% BOM do 15% 600001} S Steel 8 F «•■">■) do . 16 I Ps lO4N 8000 111 Cent R»f 152000 do 1"4% 4s Oft-, S4VIO ,jo 104% 40.10 do :.. 994 3000 do Reg 1044 <*-*'■««>« «> Ir.t Met 445. 82% BOOOVa Iron C & 26000 da . B2U C 5« 99% 176000 do .. 82% 40<V> do 994 1000 do . 82Ul 1O.M! Vii Mid Gen SMOO do '■-■ . 5s 1074 2<hV) int R T 65.. 1034 ! 1.-KM.WBhash 2d...103 f-+'""f -+'"" do 103*4 82000 do Ref & 17000 do fig 108 I Ext 4s ...74 •T"0O Int Fteam P i 34fiOrt do . .... 73 i .. 5b 9*1, ! 12000 Wab Pitts T I°™ <lo S6 i i, t Ctfs.... 47% o<>.>o Kan C. So 3«. 73 IftOOOO do -» s ,/sit r ° '• 1024 linrv) do M Of.i 7 1000 L S & M S 4000 do fl'» 13000 LA M Unlf .. 3000 Wash Term WOO do At X 4 " Kirn Went Md 4.i !B» 3<"ll) do C & rv MU ■'" ¥l ° w V,:"" Kh SK M jftAA ». M °n Jt 4s ns moo «jo'lvv;;v;rr;n2 | H 4000 Man Con 4». 97% 1000 do 02 8000 Marine 4V.5. . ♦;» | 2000 Went Kh 4s . . . 101 4 %*'\ «° «*V 800 do n-c .no ££ w° c ■■««%! JWWw Un Cl 2000 Met St Ry Tr 6 , |m ,„. ( '«"n8«r-tf "Mil tgnoo wi» C Gen 4s. 944 Total take of bonds. $3,000,500. INACTIVE STOCKS. The following were th-? last actual sales and the closing quotations for stocks in which there were no transactions yesterday on the New York Stock Exchange: Last ■ Closing. sale. Bid. Asked. Adams Express 245 245 300 Am Agr Chem pref 103 101 104 Am Beet Sugar pref. . . . 93% 93 94 Am Coal 120 100 150 Am Cotton Oil pref 103 101 106 Am Dlst Tel 20 10 25 Am Express 300 255 300 Am Hide & Leather pref 44 434 44 Am Malt 64 6% 8 Am Snuff 2704 250 — Am Snuff pref ...- 954 9U 99 Am Sugar pref 1214 1214 122% Am Tel & Cable 83 70 77 Ann Arbor — 15 30 Ann Arbor pref — — 50 Batopllas Mining 3H 3 4 Bethlehem Steel 32 31 32% Bethlehem Steel pref 66 — 65 Brunswick 17 15 18 Buff Roch & Pitta 106 101 106 Buff Roch & Pitts pref.. 133 128 138 Buff & Susq pref 62 — 70 Butterick Co 32% 324 33 Central & So Am Tel... 116 119 120 Central of N J 3i>S 300 312 Chic & Alton pref .. 70 _ 69 Chic & East 111 pref 115 — 118 Chic Burl & Q 225 200 — Chic Ind & L pref — 65 SO Chic & N'west pref 225 210 225 Chic St P M & 0 150 148 155 Chic St P M. & O pi-ef..lSO 160 175 Chic Un Trac pref 10% 10 12 C C C & St L pref 104 103% 10S4 Col & South Ist pref 81% SI 82 Consol Coal 97% 100 Del Lacka & W 600 SSO 610 Dcs M & Ft D 9 9 15 Detroit United R R 61 60 65 Evans & T H 58 66 65 Evans & T H pref 85 524 90 Fed Mln & Sm .- 82 _ 75 Gen Chem Co 96 93 93 Granby Mining 112 112 Havana Elec Ry 80 90 <>•» Havana Elec Ry pref... 684 03 97 Hocking Valley ll*"i 105 i"0 Hocking Valley pref ... 90 $4 90 Homes take 85 83 87 Illinois Central L. L . . . 994 98 Ingersoll Rand Co 70 70 Ingersoll Rand Co pref.. 84 95 Inter Harvest pref 126 126 1264 Inter Paper 14 134 144 Inter Paper pref 564 56 68 Inter Power 30 gU 30 lowa Central pref 50% 49 50 Kanawha & Mich 55 45 f,5 Kan City So pref 69 .i f«4 Kan C Ft S & M pref... 774 77 SO Keok & Dcs M 9 s 14 Keok & Dcs M pref 44 4 40 45 Ladedo Gas pref 93 90 9$ Lake Erie & West 24 23 24 Lake Shore ~...320 300 400 Long Island 67 65 fif> Manhattan Beach 3 3 3 Maryland Coal pref 90 so • Metrop St Ry 25 21 "4% Mich Central — 145 180 Minn & St L pref 88 S2 S9 Nash & Chatt 139 139 «4o« 4 o National • Biscuit pref... 125 121 - 105 Nat of Mcx pref .. ... 61% 611$ g|j New Central Coal 52 30 cr> X V C & St L Ist pref.. 105 nr> NYC&St L2d pref. .95 91 . 01 N V Dock 88 37 * 40 Norf & "West pref 594 gfl ni Ontario Silver 2% 24 ■ Pacific Coast 115% 114 UK Pacific Coast Ist pref... 105 100 ir><? Pacific Tel & Tel pref.. 994 no as Peorla & East 254 22 "I P C C & St L pref 114% 110 i^rt Pitt? Ft W & Chic 1734 173 I_ Pressed Steel Car pref .104 1034 104 4 Quicksilver pref 4% 37, 414 Reading Ist pref 93 924 9.V* Rene & Saratoga 200 195 _ Rome Wat & Ogd 126 124 _ Rutland R R Co pief... 36 30 « St L & S F Ist pref .... 704 70 7m St L«r S FC* El ctfs.. 150 ir^ StL&SF C A: El ctfs new. M «,?4 « St L & Swn 30*4 31 ,',u St L A Swn pref 74 7414 -i Pears-Roebuck pref ....120% jo * . O V So R R M & O ctfs . .. R«4 5414 ort Texas & Pac Ld Tr PS «7 Twin City Rap Tr pref .140 140 no Un Bap A Paper 11% pi: '.o. o United Cigar Mfs pref.. i/if,^ 'r TTT T S Express 124 122 Un IT S Reduc & Ref. .. f> <>!', 1" O S Reduc A Ref nref.. 294 — oof I" S Rubber 2d pref R24 SO', inu Va-Car Chem pref 124 100 ,o"s. ? Va Iron C & <- fif» «is rh * Vulcan nettnnlnß .... 23% ?j 0-11 Vulcan inning pref... Si 7^14 £', 2 Wells Fareo Exp I<W 17 i; J3 Wesfhse Mfg Ist pref. ..12S 124 ,->» ii COLLATERAL TRUST NOTES. Maturing 190»_'22. (Furnished by Swartwout ft Appenz*>Har No 40 Pine st.) Nam* Maturity. Bid \*kJl V ?^ Am Cigar 4r c. Meh 15. 1011. 9?', 004 *«'& do 4p c. Mch 15. 1912 . 97 »:., 255 Atl CX.S pc. Men. 1910 100 !O^H »•« F^th Steol «p c. Nov. 1f>14... r^! j M :''} C. H&D4 De. July. 191.1. ... M< r, 7 \- 4 fi? C. CCtSLSpc, June. U.iooi, 101 ' \ & »> & H "Its 44 Pc. July. •21..M1*; !«£« 47, Sen Robber 44 re. July. 1915 934 944 *> \(t Hudson Cos «p c. Oct 15, 11 m * X ,, ' »-, Int.. r Rr\\ pc. Miy. lfiil H«i 4 1041 >£ KCJ * L6pc. Bepi 1012 ..7 U* V& 4a 6 p r. May 15, 1913 M 07 . ca Lack St i. r » yr) 5p c. Mch. 10 90% {,v . « 5 do fl >r> Sp c. Mch. 1910.. 99% 1,-,.! 4*n L 8 * Nllp c Feb. 1010.. w'i 100H 120 I-ouls &N5 De. Mrh. 1910 100 HiO»i \ 'nn Mich Ctntrnl 5p c. Feb. H.lrt rm^ i™,? 4 % Minn &StL5 pc. Feb! if>n on 004 i, %, NY. N H AHB Pc. 191A-M2.^00 ' % % ' baS ' 8 Pcnn 5p c. Mch 15. 1010... 00 100 Vs^ St L«SFS r- c. Jan. »ii 09 wJ KM -1.-, 44 Pc. Feb. 1912 . M ft?^ 5 Southern Ry .'. pc. Ffb, 1910. . 90 T i llxW !, VX Tld,^nter 6 c, June. K.13...101S 1001^ ?X\ Wcgt 1; ft M6v c. Aug. -10.. 100% .1 4' 15 NEW YORK CITY BONDS. 4f>. Slav. -59 Jnt^rch... R i J .. Asked. 4^1.. May. '57. Inarch..! '! ,?,2»> 0 ,. 44«. Nov.. '.'.7. Inierch. '^* '"'•'* 44b. May. '17. Inter, h . }£>?• " '• '» 4*. May. T. 7. Interch.... l< lZl* '"-^ 4s. Nov.. "68. lnterch.." ™** *<*>* 4t. Nov.. ■.{«, regtat '■ '•" « IOOU 48. Nov.. •»«. resist ' nn 4 10O>; 84». Nov. '85, tntrrch. ""'■- ino '» 345. May. "54. coup."! £*,J f U l * 345, May. '54. regtet... ** 4 M|4 *6». Nov.. 10. rev X "'' «••< Rets. 4a, M»y, '50....' Ill 2 l « 102% " 03% 100 •Coupon or rcgiitere4. CONSOLIDATED EXCHANGE. Business on the Consolidated Exchange was heavy in volume, with the sales for the day totalling 127,250 shares. Sixty-four different issues were traded In. Speculative Interest, however, continued to be largely concentrated in the standard stocks. United States Steel common led in volume, •Union Pacific was second and Reading third. Heavy covering of short contracts took place in the opening dealings, and there was also considerable commission house buying early, some of it representing the repurchasing of stocks thrown over in the smash of the day before. On the sub sequent advance short selling for profes sional account was again in evidence. At the same time the market views of a large contingent of the floor element were de cidedly mixed. Steel common did not Bell above 85, against a New York Stock Ex change high of S5Vi. while Its low was 83%. against 83 l i. Union Pacific advanced to lSS 3-*.3 -*. against 193*6, and its low was 101%. against 19114. Reading's top figure was 16311, against 163%. and its low 151. against 160 The low of Copper was 82%. against 82. Detailed operations follow: STOCKS. Sales. Open. High. Low. Last. 4.240 Amal Copper... 62% S4*i 62% 634 70 Am Beet Sugar 434 44 434 44 20 Am Can 12»i 12% 12H 12»» 170 Am Car & Fdy 65% 67 esH 66 10 Am Cotton Oil. 64 64 64 «4 10 Am Ice 244 244 244 244 10 Am Linseed 16 16 16 10 100 Am Locomotive 554 56 55 554 7.730 Am Smelting... 934 <6 93 ! 4 &4 150 Am Sugar 1224 1234 1224 1234 110 Anaconda Cop.. 50»» 80% 4U;i 60 • 360 At Top & B F. 119 119% 11SH USH 100 Bait & 0hi0... 116 1164 116 116 410 Brooklyn RT. .7.'.% 75% i 75 75 ; 250 Central Leather 43% 44 43 1-*1 -* 43H 550 Ches & 0hi0... 87 ' i 87% S6*« S6 3*3 * 5.360 C M & St P...147«i 145% 147 147 300 Col Fuel & Ir. 434 45 434 444 750 Consol Gas 1514 153 151 I.*1 .* 151 i 50 Corn Products. 20 20% 20% 20 i 80 Col & H Coal.. s~4 88% 81 S7 410 Denver & R G. 45 45 l i 45 4." ; » 20 Dist Securities. 344 344 344 344 610 Erie 3i» 7 » 314 30** 31% 70 do Ist pref.. 484 404 454 49' i 400 Gt North pref. l33% 1334* 131 132 40 do ore ctfs.. 734 734 734 734 ClO Inter-Met ... .24 ■» 244 2;5 l * 23 s * 700 do pref 61% 63 60U t>O*i 10 X C Southern.. 40 -SO 40 4i> 520 Mo Kan & Tex 44% 46 44 45% 170 Mo Pacific 67 67 67 67% 70 do rights tV A A " 70 National Lead. S6 864 654 854 30 Nof Mcx 2d pi 264 2GH 26V» 264 6*o N V Central... USTi 1194 118 US 4CO N V Ont &W. 45 45% 44% 454 50 Norf & West.. 074 97 97 »i 07% 1.170 North Pacific.. 135 132 132 50 Pacific Mai!.... 34% 34% 34% 34% 1.1&0 Pennsylvania ..132 7b7 b 133 7 132 7 /i 133 170 People's Gas. .113 1134 112% 113 ISO Pitts Coal 23% 23% 23 23 100 Press Steel Car 46% 46% 46% 46% 19.160 Reading 1614 ' 163% 161 161% 2.520 Rock Island... 46 46% 43% 43% 4.670 South Pacific... l 30 l i 131% 130 130 240 Southern Ry... 3" 444 4 30 7 » 304 30% 10 do pref 604 694 «04 604 20 Term Copper... 37 37 37 37 230 Texas & Pacific 324 33 324 32% 230 Third Avenue.. 164 16% 16 164 29.480 Union Pacific.. 192 193% 191% 1014 130 V S Rubber... 464 46-* 46' 464 50 do rights 08 .OS .OS .OS 42.130 U S Steel 53% 80 83% 83T5 160 do pref 123 123% 122% 123 50 Utah Copper... 53 53 4 52 53 50 Va-Car Chem.. 54 ' i 54 54 54% 200 Wabash . 22 T » 22 7 s 224 22% 900' do pref 50 51 49!* 60 10 Western Union 73 73 73 73 100 West Maryland 51% 52% 51% 614 20 Westinghous© E 714 714 714 714 127.250 Total sales. MINING. 500 Atlanta 10 .10 .10 .10 350 Belmont 94 .95 .94 .95 1.050 Comstock 35 .35 .35 .35 400 Con Cal & Va.1.75 1.75 1724 1.724 300 Chollar 30 .30 30 30 400 Elkton 70 .71 .70 .71 1.000 Jack Pot 074 .«74 .074 .074 400 Jumbo Ext .. .17 .174 .17 174 200 Mexican 1.75 1.75 1.75 1.75 500 Montgom Mt. . .034 .'»34 .034 .034 100 Ophlr 2.074 2.074 2.074 2 074 400 Portland 88 .*9 .88 .89 500 Tonopah Ext.. .69 .#8 .69 .69 1.500 Tramps Con... .064 .004 .064 064 7.600 Total sales. WHEAT. 525.000 May option $1 <*>% SI 10% Si 09 $1 09^ OUTSIDE SECURITIES. In the market for outside securities trad- Ing as a whole was light, with the excep tion of a few of the mining issues, which continued to show fair animation, prin cipally on the inside purchases. The gen eral tone at the opening was steady, with prices on a parity with the previous closing. Before the first half hour elapsed, however, a heavy tone developed, with fractional recessions throughout the more important copper stocks on limited offer ings. The Industrial list was heavy in sympathy, and declines of 4 points were recorded in some of the issues, while in the inactive shares the bid price in sev eral instances fell from *i to \ of a point. Standard Oil was down 4 points, while American Tobacco v.-as off 3 points in the bid. In the mining list Greene-Cananea. Nevada Consolidated, British Columbia. Miami and Ray Consolidated were frac tionally lower. Boston Consolidated Cop per was an exception, and on heavy buying advanced 1% points, -while in some of the lower priced - shares an easier tendency developed The silver issues were fairly steady, but inactive. Bonds were- dull, with interest centred in Missouri Pacific ss. Detailed operations follow: INDUSTRIAL. Sales. Open. High. Low. Last. 60 Am Tobajco .. 41S 420 416 41S 360 Am Writ p pf.. 234 25 25 500 Bay State Gas.. % M % ti f.ooJune Oil 25 25' 25 25 100 Rendall Steel.. 7 7 7 7 71 Standard Oil.. 651 649 CoO 175 Un Cigar Mfjr. . 68% 80 8S 89 SCO U S Light & H. 24 24 C"-4 2% RAILROAD. 300 Chic Subway... 4 4 4 4 4-. 44 700 X M & 0.... 21 214 20 ? i 21 '* 100 St L & 5 F, wr 40 «0 40 40 MINING. 1.100 Alpha Copper... 6% 7 6% 7 4.500 'Argentum . 10 10 if* 10 ■5.000 Boston Copper.. 19 20% 19 "11 1.000 "Bovard Con... 44 44 44 44 200Braden Copper.. 4S 4% 454 5 4% 600 Brit Col Copper 7% 7% 75»7 5 » 7% 1.200 Butte Coalition. 28 l i 26H 28% 26 1.900 Canadian Mines 7 % s 7'a 74 7% 10.000 Chino Copper... 144 14 1 13 7 14 3.500 'Cobalt Central. 21 2! ' 3 21 "14 1.200 -Com Fraction.. 40 40 40 40 400 'Commercial ... 52 52 52 52 19.300 Con Arts Smelt. 34 34 3 3.2, 100 Davis-Daly Cop 3% 3H SH 3% 22.f*J0 Ely Central Iti liJ 111 17»1 7 » 6,500 'Ely Con 83 85 J-l S2 100 El Ravo 2% 2% 2% *>% ?."O 'Eureka Con... IS 1:» IS M 250 First Nat Cop.. 5% 5 T i 5% 5*4 1.500 Gila Copper ?7i? 7 i 9 » 94 9% 2.soOOiroux ll 4 n : i m s ni, 2,500 Goldnola Con . 7% 7.4 7H 7% 1.500 Groene-Car.anea l"' JO% 104 10".* 27.000 *Ore<?nv.-ator ... 8H 114 8% 11 6,500 'Harcuvar Cop. 71 72 " 71 > ' 7-' 1.500 Inspiration Cop 9% DA 9% &A 7.000 Kerr Lake .... 94 iX 9 . 9X 2.500 La Rose Con... 4% 4^l 44 4U 5.-10 Mason Valley .. 2% 2% 2% ->% 15.700 Miami Copper.. 24 24% 23% 2.i 200 Mines Co of A.. 60 DO 80 50 2,500 Nevada Con C. 25 7 26 25% 2.".% 2.600 Nevada Smelt.. 7 » 1 7 i 1 1.300 Nev-U M. <.- B. 14 1% 14 1% 300 Nipisslng M Co. 99 T *» 97i9 7 i 9% !>% I. SCO Ohio Copper . 4 » 4 T « 4% 4% I.WO Pacific Smelters 14 14 1% ,1, 300 Precious Metals 1% 1% 1% 1% 10.000 'Paw-hide Cn... 174 174 15 lrt 5.500 Ray Central 3% 3% 3A "ii 4.600 Ray Con . 244 24 7 i 24 "41^ 100 Sierra Con 44 44 44 4\a 8,000 Silver Leaf .. IS IS 13 13 100 Silver Queen... 22 22 22 2->2 -> 600 B V M & S.T.. 3% 8% 3% 8% 340 Superior & Pitts 13 13% IS 15% l.SOOTenabo M & S. 24 2% 24 •>% 200 *Tooo| Ext . . 67 67 67 67 ' 5.500 'Tramps Con... 7 74 7 71, 8.000 Tularosa .. 14 14 1 % 14 200 T-;r.lumne Cop.. 3H 3% 3% 3% 1.350 Union Minos 2 2 r » 2 2 2.000 'L'n Pac Cobalt B r> S 0 2<>o United .~,-, rr , . r . 7% 7% 7% 7*» 4.700 W Va-W COl j,v 2*i 24 -Ji 1,000 Yukon © Mints. 4}i 4)} 4"i 4% BONDS. $3,000 Bine CRy '"* 89% 89% 89% Ff»% 35.000 Con Aria S 13.. 60 »'4 60 64 200.000 Mo Pac ss. 1 Int 95% 9rt 95 T i O^, 7 . 8,000 West Pi-iflc .'..« :•-. - 97% 97% 97% •Sells rent spr»r share GOVERNMENT BONDS. The following shows yesterday's closing quotations for government bonds, compared with Monday's: —Jan. 17 — —Jan. IS — Bid. Asked. Bid. Asked I' 5..28. retr . 1830 100% 100% 1O.»S ion. U. f 2s. coup.. 183O..T:l0OH 100% 100 V. S. 3s. res;, 19O^-15..1«H% 1024 101 1024 U. S. dm, coup.. 190S-'13;101*i 1024 101 io^U U. S. 4s. rejt. isea m : i 1154 nr. n-,u U. S. Is, coup, l&S 114*4 115% 114% | 15 »* Panama 2.-- re?. 1936. .'.100 101 111.1 ji»j Panama £■ coup.. 1038. l<«» 101 log 101 PUBLIC UTILITY SECURITIES. (Furnished by Williams. McConnell & Coleman No. •>> Wall street.) 1 M Ask<>d Am Light ,v Traction 2lHi -) U ' do preferred ins j,,.', Am Gas & Electric 44% 451: d.i preferred .... 4 4 4 -, do first 5s ........ S7 > s Denver Gas & Electric ..... 15 - J \m do general .•>-■ i»4 , m; Empire District Electric . . 35 37 <1o i>refetreil 75 77 do bonds 77 -c, Lincoln Gr»» ,v Klectrlc 20 •••» Pacific (Sag A Elect ric M f>\ .I . preferred ........... s '.» m CHICAGO INDUSTRIALS. «"hl«-a;v>. January is. American Can.,.. IS .. Sti Stable Car 80% do pref . ... 7tt^: do cref In; Am Shipbuilding 77 | Swift *Co ■ lus«» Ch Pneu Tool Xi'siltoxlxviiJ nref . . y. " ' ■••in !:■!.- 1 1211 |\\ tti m Stone . ■_•."., do rights l*»j. Metropolitan 0f....M Chic Telephow . . . ir.o ifTjic llv» Series 2.. 31 ai Title a Tr....u:i I 1 - Bo«buck . i..s . Diamond Match.. 11»4 do vrtt 121*Z Quaker Oats H1...106 I feoples Gas 113 ♦ Executor Trusts Chartered 1822 **. The Farmers' Loan and Trust Company, Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue, New York. * LOJTDON, 18 Bisbops^ate St. Within- PART?, 41 Bonlmri Haaarauai ■--■■■■■■ .:-. - i L *i_ , Travelers' Letters of Credit, Foreign Exchange. ■ ■-, 'jn Administrator . Guardian 8 Franklin TruSl Company •ff 166 Montacub Stieet, B»ookly?»* 14.0 Broadway, -New YcjuP * Arts in every couciary capacity. Allows interest on Demand aa<i Tim* Depo»it« 3 Metropolitan IZ Trust Company^ of t/*e City qfJVexv YorA 49 WALL STREET Capital, Surplus and Profits, $10,000,000 BRAYTON IVES. President. GEORGE N. HARTMANN. Secretary. ANTON A. RAVEN. \ «-Pr«. JAMES F McNAMARA. JTratpSeer BEVERLY CHEW. 2dV i c*-Pr RUPERT W. K. ANDERiON.A-t.Tr. BERTRAM CRUGER. Treasurer. . FREDERICK E- FRIED. A-.. Sccreury. DIRECTORS. Francis M. Bacon. Edward B. Jndsoo. Anton A. Ea-rea. William L Ball. Lewis CM Ledjard. Norman B. Bean. William Carpeader, Bradley Martla. • George R. Sheldoa. Beyerly Chew, Frederick T. Martin. J- Edward Stsnuou. Thomas De Witt Cuyler. Walter E. Mayaard. John 1 I ■ M Henry W. DeForest, E D Morgan, Jc«eoh J. Slocnm. Haley Flske. Richard Mortimer. Jofcn T. Terry. ErStSilSrUt Z ' Jbba E. r '" " Geo. Henry W«rr«. BraytonlTeT. Charles M. Pratt. Horace White. Buck's Weekly Cobalt Letter Written by George kendrick Buck Exclusively for us gives complete. detal'.-?4 Information about al! the Cobalt Mines and covers ful'y the Mining properties In SOUTH LORRAIN, MONTREAL RIVER. SILVER LAKE. MILLER LAKE. HUBERT LAKE. GOW GANDA. PORCUPINE GOLD DISTRICT. Has no connecttion with any brokerage nous*. Gives no paid write-ups Accepts no advertisements. Two Dollars a Y>ar in Advance. Publicity Limited 36 Lawlnr Buildins. - Toronto. Ont, PERSONAL TRUSTS Executor, Administrator. Guardian. Committee, Trustee under Will or un der appointment by Deed, Agent for the care of Personal Property. This class of Trust business solicited. FULTON TRUST GO. OF NEW YORK. ?0 NASSAU STREET. FRED'K F. MARQUAND Mcrr.btr of Consolidated Stock Ex. <f N V Tel. SO3O Broad. 35-37 Broad St.. N. Y. STOCKS AND BONDS For Investment or on Margin. FRACTIONAL LOTS. MISCELLANEOUS SECURITIES. (Furnished by Frederic H. Hatch * Co.. No. SO Broad street. New York.) Stocks, Dividend. Bid. Asked. Am Brake* S& F Q-Mar 5 53 88 Am Brake 5 & Fpf Q-M 7 123 127 American Brass Q-j ft 117 122 American Chicle MoAEx 12 230 235 American Chicle pf Q-J 8 105 109 Am Dist Tel of N J Q-J 4 57 59 Am Coal Products Q-J « 93 96 American Press Q-J&Ex 6 I*s 105 American Thread pf j&j 5 4^4 3 Am Type Founders j^-j 4 4* 50 Am Type Founders pf..Q-j 7 97 101 Bibcock & Wllcox Q-J 7 10« 112 Barney & Smith , — 30 50 Barney & Smith pf — 105 115 Borden's Cond Milk . . SF&AEx — 113 1204, Borden's Cond Milk pf..Q-M 6 104 10S Bush Terminal — ■>«) 81 Central Fireworks — 5 10 Central Fireworks pf — 55 65 Conn Ry & Light Q-F 4 764 79 Celluloid Q-JJtEx 6 123 132 E I dv P de Nemours.. 7 135 14*5 Eldu Pde Nem pf...Q-j 5 86 »> Eastern Publishing ... . — 115 — Empire Steel & Iron . . 7 10 Empire Steel & Iron pf. S4 — Fifth Aye Estates Jftj 5 150 — Hall Signal common 45 55 Herring-Hall-Marvin — 30 45 International Nickel — 150 155 International Nickel pf.Q-P 6 90 94 International Silver — 15 25 International Sliver pf.. Q-J 4 ft 1 * 103 Klrby Lumber — 10 15 Klrby Lumber pf 40 55 Kings Co El L & P .Q-M S 129 133 Lackawanna Steel . . . — ,*>>« 63 London & Edinburgh Co J*J o 130 15i> Nat Cash Rfjliter pr«f.JtJ 7 HO 120 Niles-Bement-P Q-M R US 103 Nlles-Bement-P pref.... Q-F « 102 108 Otis Ei«vatcr \4O 3 55 ft* Otis Elevator pf Q-J 6 99 101 Old Dominion S S TAJ « loft 115 Pacific Gas &El — 52 55 Pacific Gas A- El pf Q-J « *7 90 Phelps. D& Co _ — 240 WO Pop^ Manufacturing.... — 77 «O Pope Mfg pf —SO RS Producers" Oil Q-M rt 150 175 Pratt & Whitney pref. .Q-F 6 100 106 Royal Bak Powder Q-M&E* 8 165 175 Safety C H ft L Q-M&Ex 8 130 135 Sen-Sen Chiclet _ 124 vs Standard Coupler •>* £$ Standard MUUns. Co _ \* X 9 Standard Mill Co pr AJtQ S 49 53 Sydenham Corp — _^ 100 110 Texas Company Q-M 12 215 •»*» Texas * Pacific C0a1. . . Scrt;> 6 90 109 Trenton Potteries 4 i Trenton Potteries pref — co 70 Trenton Pot fndg ctfs..J*J 4 (U> 70 Trow Directory _ — 25 35 Union Carbide ■ _ 102 m Union Ferry q_j 2 30 35 I nt^n Typewriter _ m <*> Union Typewriter Ist pf.AAO 7 110 11.1 Union Typewriter 2d pf . A*O R 11 •» n.\ i nited Banknote Q_j 4 4^ 52 I'r.ited Banknote pf Q-j a 5-> 54 V. £ ,, F ' mls -- ln S-J 4 140 IV> I S Itnlshtnr pf Q-J 7 m m vlnririla Railway _ ** •»« West Pacific — 27 *> West Power _ 3* 40 West Power oref — 53 61 BONDS. Am Malt Ist J4D ' 6 1034 1044 Am Pipe & Kdry Ist JiJ « 103 io« Am BS4F Ist MAS 5 98 100 Am Ti^^ x- S Ist A&O 6 83 95 Am T>i*r .l Jbt MAN « 100 104 Am Typefnd new MAN « 99 \OO |f" Publishing M.tS 1 05 100 fifth Aye Estate MAN ft — 10J T "! cke^°n«»- J Mi 3 8 103 10U Inter Nickel Ist .UO ft 92 »«4 Inter Silver Ist jjtj « 10 » 1114 inter Silver dbt JAJ ft 100 102 J-WU ,F II» Ist Q-J « 99 105 I^ndon ■ Edtnb Co .. . FA- v 8 10«> — New Jersey Stmboat Ist M*N 5 S5 DO > ■* Biscuti Ist .... Mi S 6 100 - Ncrthw Coal Rut MAN 5 75 — Old Do S s Ist MAS ft 65 105 Ontario Power Ist F*A ft 90 80 *, t>n » £& C 192 T. MAS ft 33 40 Mcx-k Quotation Tel... FA A 5 B — Sunday «• *.C 1925 JAJ 5 «5 70 l/nton Carbide Ist J4J ,-, 9K 102 ;n; n Fdry Ist ft,, 1920.... MAN — 95 10<* i ; niu-,1 Lead dbt .... JiJ 5 «•• 65 !. g Finish con» J*J ft aft UK» U B Finishing Ist JA-J ft 100 105 Mrjtnlu-Car Chem a&o ft »7 0-S4 EXPORTS OF MERCHANDISE. Week ended l»10 * UKtt 190 S. Jan 17 814.774.887 $15,442,533 $19.P40.50f» i Since Jaa. 1.. 2i.553.73S t0.3ya.53« 35.375.&«» Irving National Exchange Bank Strictly a Commercial Ist Resources Over Thirty-one Millions. West Broadway and Chambers Si^ »w Tan MEETINGS. Guaranty Trust Company of Hew fsrt 28 Nassau street, -'.c York. A special meeting of the stockholdsn < Guaranty Trust Company of New Tor* in been called and will be held at the ci;» t the Company. No. 25 Nassau Strtet. ts tti Borough of Manhattan. City of New Tart a Tuesday, the twenty-fifth day of Jasnr?. 1910. at 1 o'clock P. M.. for the psrpcs* <* voting upon an agreement entered tsts at made by the Board of Directors of tUson> pany and the Board of Directors of iloKa Trust Company and the Board of Direcant! Fifth Avenue Trust Company, pursont » Section 36 of the Banking Law of tbs fes» of New York, for the merger of Mortos Trst Company and Fifth Avenue Trust Ccrwj Into Guaranty Trust Company of Xe-ar let Dated New York. January S. 1910. By order of the Board of Directors. ALEXANDER J. HEMPHILL. .Presidsc E. C. HEBBARD. Secretary. MORTON TRUST CO.UPA>Y. 3S Nassau Street. New York. A special meeting of the stockhotd^t 4 Morton Trust Company will be held- at tit office of the Company. No .13 Naaasa a:rwt. In the Borough of Manhattan. City of SI" York, on Tuesday, the twenty- ii;i i*j it January. 1910. at 2 o'clock P. M.. for tie-;r pose of voting upon an agreement entatsi na and made by the Board of Directors ol C» Company and the Board of Directors of S» anty Trust Company of New York aai d* Board of Directors of Fifth Avenue T^c Company, pursuant to Section 36 of the Bus ing Law of the State of. New York, for to merger of Morton Trust Company and fQ Avenue Trust Company Into Guaranty Xras Company of New York. Dated New York. January ?. 1910- By order of the Board of Directors. LEV! p. MORTON. Presiisit. H. M FRANCIS. Secretary. FIFTH AVEME TKIST fOMFOV 614 FIFTH AVENUE. NEW YORK. A special meeting of the stockholders of m Avenue Trust Company will be hell at th» •• flee of the Company. No. 514 Fifth i^am. • the Borough of Manhattan. City of Xew Ist on Tuesday, the twenty-fifth day of Jir=rr 1910. at 4 o'clock P. M.. for the purpose « voting upon an agreement entered Ist* •• made by the Board of Directors of tie C«3f and the Board of Directors cf Guaranty -* Company of New York and the Board of B£» tors of Morton Tniat Conjpaay. psrssas: * Section 36 of the Basking Law of the 3ttjs* New York, for the merger of Morton JtJJ Company and Fifth Avenue Trust Coagot into Guaranty Trust Company of New Toti. Dated New .York. January ■». 1910- By order of the Board of Directors. LEVI p. MORTON. PreaH» JAMES M. PRATT. Secretary : _ Off. of _ BROOKLYN RAPID TRANSIT <"OMPAS* City of New York. Borough of BrooklTi January 7JU. 131* Th«» annual meeting of Stockholders afaS Brooklyn Rapid Transit Company far ''■"*« tion of four (4) directors to serve ri * '? years, ar. 3 one (1) director ti> serve "**';» years, and one .1 . director to serve -?a» •» year, and of three (3V inspectors ofe!ectl!3" serve at the. next succeeding anaaal MS*** and for the purpose of transacting s*! l *• business as may be duo- brought -tot* *-* meeting, will be held at 12 o'clock =oot • Friday. January 2«th. 191>\ at the o£ca of -' company. S5 Clinton Street. vro *s » Brooklyn. New York City. The Polls «* v main open for one hour" T. .e transfer b»» will be closed at 3 P. M en Tuesday. JW*5 11th. 1910. and -win r»main closed *■*,£ A M on the day immediately succeeds? «-' final adjournment of said Stockholders? Ing. C. D. MRVgELY. Secretary, New York. January 3. MSB To the Stockholders of Guaranty Trust Company of New lot You arc hereby notified that, by direct!" the Board of Directors of the GBM |"si«?3 Company of New York, a special meet—* th« Stockholders to Authorize th» lßCteiss -* the Capital Stock of the Corporatioa a amount of 81.000.000 from $2,000,000 to 000.000 has been called and will be i** l *?^! office of the Corporation. 25 Sas«» ?-• < Manhattan >. New York, upon ?d:: *:r^ January 19th. 1910. at twelve o'clocK sx* By order of the Board of Directors. A. J- HEMPH'LL. f """£ E. C HEBBARD. SecreMW Office of the Maryland * o«l Comjwafti No. 1 Broadway. N«w York. January W»B The annual m**ung it the 3BSBSBSBSBJ Company for th« e'.ect.or. of a Frejiiest »S Directors, and for such other business •' ". come before the meting, will b« - el - ■.«• offlc* of the Company. No. 1 Sr^adwa^^^ York, on Tuescay. February Ist. 19** si "^ AM .«;. it Transfer books win close on January -*^- 4 three P. M . and reop«r on the mo.-» February 2nd. 1910. „- X H B NETHA- '^^. BOSTON STOCKS. «• vcii tFurefshed by R. L. Day £ Co-. !•* *• str«et.> _ j, Jan 17 jaa IS. I Jaa A, » 1 Bos & A1b. "232 250 'Boston Cons. 13 » Boston El •134% IX3H'C*J & Hecla.6js «* Fltchb'R pf. — 12»%iCenwr.aial MS- 5- NY NHi- H l-V«- ; 135%! Cop 11 *!, 3 *^ m Old Colony. '2oo »197 FranWta M-> : ' - WE St Ry. W »4 iGranbv M -•■;»"?« ' do pref...H>i 10S j Mass Cons M -f* A Mass E! Co* l* l i IS Mohatrk M.. 'i.- «* do pref. .. 7 < > SO No Bs"*;--*.*; t«9 Am Pneum.. T 7 OsceoU M-- •»«. t^\ do pref... I<4 l«S!O!d Pom M- JJ >. Am I & T..137H 1374 1 Parrot *»*» s y S . Enc r 134 ■ -v >«•••• Z-4 V \V«t T*T l« 1« ! Tamarack M-W-i dapn»f..-»3 M Wolverim M.l ••',?, Un SU% M. H74 674 U S saa#lt«« ffe ji ... . pref. •• • « 9| Arcadian M. S% R% \V SOU 5,« -• T>.-» Atlantic M. ll<i 114 Mas* Ga*- •2* g«-. Shannon M. Wi I* 1 *! a» »«' - - ?Jl 01 I nit Fruit l«>7 ltftHlUtah ** n • •Asked. V. ' * BALTIMORE STOCKS. *; (Furnished by Van SchaicS * C*« *•* • Bld-Askad.! Bjj^ .1* Un«te«l Ry. . 13 It ! Cotton Ducjt. J»*» $ do incomes 51>4 <» Ji .do «f>f** gft^ ' *"• OIttSVT V-» 3 !«& fa" P* do inoomea li> 14 ! tie 4 2S -V"'ii\> ,io i*ts... 4i n^icri cRy s»-»g ,jj do iH of- "* S- iCont Tru3t....'3. r^J &aa pf.. 45 « It'nlon Trust, g S«b \L4s S4 <44 Third Nat B.lt> «W ConsoJ Gas.. — ICs'» JMaryland *;-.WiJ» do «*••• iw<« :• . • em wr«^w-