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A Compelling Attraction If you ar* of a conservative tem? perament anal desire to surround your funds ?kith stron? rafejruards, obtalnltiR at the F'?me time a re? turn of from 4'h to thai, the bond market <>f lO?*l?*0 should have for you a "M*** eo?ap??iB**al :?">? Our rir^iJar IttT, desa-nblr.i*. sev? eral Issu??* OC I i.peivathe Invest? ment horaaK-, ajho-jM therefore be of it tlits? I'Mitl.-'i'iar time, ?ml w?' : ha'.l N | '" -""! >" send you a ?or y promptly on re apirM. Spencer Trask & Co. INVESTMENT SECURITIES. 43 Exchange Place. New York "Safer Than First Mortgage Bonds" *AE (iFFTCR $50,000. SOUTHERN RAILWAY CO. EQUIPMENT TRUST 5s nnmima -u." ni 1 u?2i TO YIELD 4.6016 Semi tor descriptive circular FREEMAN & COMPANY Investment Keaurltie?. Tel. -?O??* John. 34 fine ?t. X. Y. Flty. WANTED Lackawanna R. R. of N.J. Stock ALEXANDRE & BURNET Mrmbart New York Stock F.iehange. 7 Wall St., N. Y. l'hc.ne J:ectcr ITM THE BACHE REVIEW Dieruaae? thla week Merit? of the Mexican Policy i C)'.an?-e In Ar.tl-Rallmad Sentiment Amonit the Pajopl?: The Hallan Testimony lb? Meaning of It? Introduction at Thla Time, i: or 'my and Effl lancy ae the lotara? I mlaalon Prac? tice* Them; Savin*? for ?he Railroad?; A lietter Feellnar. a on application We will he glad ?i nalvlee \?','ri Inveators. J. 8. BACHE ft (<>.. 42 H'war, New "aork. Mam be re Sew York Si eh Excl inga. Public Utility Investments Kwhnond &<to. 33 ?Pine St., New York Unlisted Stocks tvo in?-itr i ? ' tlaa fm ? . . ,. !.. bay or e?ii. ? ' .- ?ta? iapi tmant l HARVEY A.WILLIS & CO. iK.tulilUli.al IfiOli 32 Broadway. New York, N. Y. DIVIDEND NOTICES. THK N\'lla?N\l >ia.\K RF.FIXTNO COM PA XI til NEW .IF.K-.1.V. New York, Maj 20, '914. "fits I'narai ?'. i'ir> t..is injr bava this day daclaara ; .. of ? ?NI an;. ONE HALF PER CBJNT. |14?"W on the CSapl tal Su. payable July J 1914. lOM cf busl iief> June 9, 1914 il F MOUaBNHAUBR, Tr?anur?r BORDEN? (uM?l\?Hi MII.K COMPACTS Preferred M... k I ?i? i.l.n.l No, M A r<; ? of this : UM 15th l'.TV to rtoak 1914 Hi.'v I I ?? ? 10 a la. ' > ? BHi >VK, Tr<n.a.-.rer ill ?l ill l. IRON a ?-i i i t COMPA?X I ?nil'KM ' NO. 47. At a meet',!., ... . . the Pe? ? ,' a u, 15th. 1914, !;i. ' IV? Can the Pi ?I ? ? al.le July 1st. 1114 ? June l?th. 191?. Pf.t.ka : R J' ?NI5S, Jr . Se-'tv. ORDERS FOR STEEL LOW Buying of Basic Pig Iron Is Continued, However. Ordern for finis!.e,1 Meal are reported decidedly ajlfaappolntln?; tiy trn?e jour? nals. Buylnj* of bnslo pig Iron, however, continue*! For the latter half of the year Increased ateel tonnage Is predlct eA at reduced prices. "The Iron Age" ?will say to-day: "The meeting: of steel manufacturers In New York last -vc<-k reflected scarcely no hopeful a feeling n.s has been ?shown In recent market report?. It Is generally pre-dlcteai that the se'-oiid halt' of the year will he better In tonnage than the first half, thaautfh not In prlaS?M "In the steel trade new orders ar? still distinctly dlsnppolntlng. Railroads show no ?inn of disi'iuntliii; the common be? lief a.s ta> the result of the rate cave Th9 evldaiit falllnt; off In the business aif manufacturing cotisumars of Iron and i-lcel Ig the ouistaii.lliia,- fact In the ?sltu "l'tie finished Mteel ira.le as n uh"le ?.i.e.s no II lion of the fact that g an out In an.'ther thirty da?-* Buying ? cr iron mtlnue<L" 'ih,. iron Traa'r ooyo: "Turn ? ? ? ' liai im? ; ? altbougb the ? . iri the tap ? Importase? bo?*] :? -, Tl.. , (. Ii ? " ? ??? f 11 formai.*-, ?m ith pic ? ? ? . ? SHORT TERM NOTES. - irtty .... i | ? ? ... >.!ie R \ - I ?.a. -, V . .\; ? a ? Ma l.w ? 1 . -ni f. . -e; t . . |.M .\ * . . t SeV I . , I ' N \ ? tarai a -, . "... .4 : ? Sor I J ? ? I ! ? , - ? tob Air I. VU. Mai . ? ? I!? . ,. I ? ? ? pewi . Fruit I r, il-?. 1W7... Ifl '. eath i; * M ??l. Au?, 1?16... lC'ij, lv.'W 4 20 I REVIEW OF THE STOCK MARKET - ? Prices Higher, with More Activity?Drop in For? eign Exchange. With the M?-?''an outlook Improved and the Londoti tradim- aatowtag .1 much tn-.r.' . li.-'-rf'il MB?, the market : . nnl slmriK and advanced fairly ?tl adily through tin- day. S.-curitI?* ni'..?-! prominent wore, at their best. around a point hi*.h< r ami r.'iine.i a pi.mi part uf Um improwtMBtnt at ?in* While the amount of bSiaT?B?*4a*l ?;.<i ?us not xnrsjg, it ni in on than tartos Tursda*-'s dl*oourap.ing'low 'l -tills were a shade quieter, 01 - rortunities for speculative profits for Moor ti-taders again appearing in the .??hare list. London prices ramo materially higher, and purchases for foreign SAN count amounted to about HU??? ?liar?'?. PurCaTS of th.- Hank of Kn-?land ob? taining new gold ti-oin South Africa, M i.m.vilty in ttl8 ItfOfJpesfl of the set? tlement, and passage of the Home Hule bill unaccompanied by serious dis? turbance in 1'lster enlivened trading across the water. Here active issues opened around one-half of a point high? r. and the advance continued with Only slight roa turns until the late af? ternoon. Then the market was a little more quiet and prices weakened a trifle, but at the close was firm, and a num? ber of the issues most traded in were at their best in the final trudln?. Head? ing and Union I*aclflc each made a maximum Rain of a point, Southern Pacific of 1"s, and Sucl of 7<? and Cop? per nf %. Of these Steel and <'opp?r closed at the high prices and the other.-. were r.nly a fraction off from the bes*. Gsneral Motors, tsrhieh as yet jays no dividend, closed at .'S .'! points higher than 'he 7 per cint preferred It had advanced 7'2 points to Hi), with re? newed reports of disbursements from profitable operations of the company. Btudebaker, common and preferred, was also strong. Canadian Hacine ad? vanced in London on report that liqui? dation for aeeo'.mt of a heavy ?rps ?atoa? who had been relieved of hi.-? holdings was at an end. Here it ? losed at its high price of the .],'. 196*4, nmre than ,'i'j points above Tuesday's final Apure. MlB?Onrl I'a c i tic ?us firm, with the day nearer 0/11 which the direr tors are to announce whether or not in their Judgment enough notes have bean deposited to tnake the e\<. r.--..-i agi > ? men: tive. International Mercantile Marine bonds ri-a. t.-d 1' points on profit taking, stimulated by discussion of the pomi bllity that proof of negllgt nee by the White Btar Company might be pro duced to increase the limit of liability set by the laws of the Cnlted BtateS under which suit in this country must be brought. Brooklyn Rapid Transit convertible 4s were higher ami N?rw York Hallway adjustment ,r>s fell off .< fraction. Webaafa bonds were firm. Overnight rumors that Huerta had at last started flight out of the country wero not confirmed during trading hours, hut smh an outcome was be Ueved almost inevitable. Advices from the mediat:on i?onfi r? nee m Canada continued favorable. Steel trade pun In ations report.'! prta?4*tlesJly no Im? provement in baying of dnlahed st.-, i but a continued movem? nt of baaic pig , Iron I .r> ign exchange rates were easier following lower discounts in London, and no further announcement o? gold for export came to the market. Call loans were r< n<* ed a shade lower, at 1% p?t cent, and time a. .. ninu. lat^n somewhat higher, with business light. Including payment for gold for expon the banks show ;. ?..-s of over $7,000,000 since Friday on Sul.-Treas ury op? rations, MONEY AND EXCHANGE. .'M.). MONET "iii'ncil at 1*, prr cent; '. 2 pet cent; l .weat, i \ pei doling. 1 ?? per cent; lenessal l\ Del i TIME MONET was firmer in ton?? . 01 . per cent for sis.' - ' ninety days. S**??*?! par eenl tor four month ? ? t for flvs months and i rnontbs MERCAN"] ILE PAPER was qa|at anil SUppl) ss;is small Hates. ^ per ..'at for i nln? choice four ' months' single ?amas and 4:_. ? ..-? cent for "i'? CLEARING HOUSE STATEMENT ; ' i 124,071. t'. !.'.. . $ SUB-TREASURY New To ' io.'t BlrtCS il,lay |7.O40 DOMES! ' KCHANGE ??...: I - ? ? exchange 6Cc pro? j I ? ?' SII.VI R MARK] I pri.? ? in .\esv * ? ? dollars 'a I.on ' i able ? - ? ? I S Ix t ? ? 1,15-1? ? ? -o DIVIDENDS DECLARED. ' Tl.- SO J..D?.3 n v ' ?? ?,' . July 1 . Spring ;?' '.? ; . June M : I June IS I I v : luas I >:... . s . July 1 Jun? ? 1. i.> *. U H-. W I'?**? Juae 1 May:: NEW YORK STOCK EXCHANGE WEDNESDAY, MAY 27. 1914. Total sales of stocks Wednesday, 162,800, against 76,r,00 Tuesday, 138,200 a week ago and 342.300 a year ago. From January 1, 1914, to date, 33,559,460, agjinrt 35.901,200 in 1913. Quotation Fiance. Open Hi.:li Low. ^iti;??1 -M, 27% 2S% 7.'{'4 ?_?:; ;kii . .'I's III? 10 4 ?;?? s ?; ;i I?. 11 -, ? .. <i Ama i- mi..!, i Copper Al I, Be t BtlgaT v ' Can . 7 \Mi. ?'.-it; pr -' Am. Car ??:? I'.'iin'lry 7 I :n. ' '..,ii produeta pr ?Im. i- Be? at ? Am, l.ai, iVIIiitlV.' . Mu. Mat . I <\m. Sin. king . 7 Am. Smelting pr ?'? Am. Snuff pr. 7 Am. B igar . J '? r pr. N Am. T? I. A T-'l. 20 Am Tobactw . ?. Am T?.l.a. o pr. ?v v.. 12 .ni . onda . ? ' \ ^a. Mi rch. 1 i '? . ?'? Atchlson . _ Raid? In ?Locomotive ?'. Baltimore I ( 'hie !.. thl?ahem 81 .% Bethl? hem Steel pr.. ?_i 1 :? nokl] n l'nh n < las.. 7 ?' il Petroleum pr..... ? 'anadian Patrlflc . c. ntral Le ather . ??h'sapoaik.. A ?ihlo... ' 'hlc ??I. \Vc;-tern. chic ? ;: Western pr. ?'hlc. Mil. A St. p.... ?'in.'. A S?orthw***rtaeni ClllnO Con. < 'al|l|'af. . .. ? '.i WWO\ & Inm. ? '..m 11,'i,hi it ? ;,i ? . Corn Produeta . Corn Product* pr. I '??? n Co. pr. ?. I ?. law ir?? a*} Hudson.. !'? i . Lack. A Waatern Dlatllling Seiuritia.-... ECrie . Erie l*t pr. fc <;ener;?l BleCtllC . ? ?lamaral Motor . 7 ' I'll? rai M. tor [ir. - "i I.Irl h. !'? F. 7 ? loodrich, !<. !?*.. pr... 7 ?;?. Northern pr. ??_. < it North. < ?re -rubs.. ? ?uggenhelm Expl. Illinois Central . ration i topper ... Interboro-M? tro.I Interboro-Metro. pr... Int. Hirv. of N. .1....' im. Pump pr.! - City & South. ? Lehigh Vail?***1 . Looae ?Vllei Btaeolt... ?Lorillard, I'.! ."? Mai kay ? '..? ipanll Mil iti? ....' M. re intlle Marin" r?r M v ? P ? 11 n .. M'-v. p. troleum pr..,.] . '"? ? topper... ' Minn. .?.? c't. L?ala.... Minn A Bt I., pr.' M., B. 1'. A B. S M....' Mo., Kan. .?;? Tex.' ?:l i Cu IflO .' lonl na P? ? ??. r pr.... S'atli nal BiacuH pr... ? '..n. <"oppor.. N v. Air Brake .' \ \ Centra] .I x. v . n. n. .?;? h.i Norfolk .<? Wastorn...! N'.al ?i; A RMal i an .I .I . BIlV? I . l'a' Iflc Toi. * Tel. Peni ?yanta i:. R_ Phlla. ?'o. ''? p. -. pr... Pittsburgh Con! pr.... Publl ? Berrtce . Pullman Palnoo Car.. Ray ?'on. ?'opper. Reading . 14.800 1?'.?'.' 10 l*i 40 2.HO0 124*4 125V? i???? ."..?,. :;.': :.??<? 54%l MU 200 110*4 111% IO0 1?'.'. 17 ?_" K ? 14*j 71 m i ? ;?_? i . 1,200 1"7 .?M? 1?i ::<??? 20% 1,200 140'j 1?HI .".p., 1IM? 171 ??III 100 ::?>?i Min lim r.i??i in?. ;,?i v 3% im... 63 7.? 2? "? 13% 28 M 'Si*-. 2??\2 V? " '-'.I 124*4 124% :::: :::', :.i M 110*4 111% % io% k IP'S i r, ? % .;?_" , i:_? ? . ? '.. 11-7 " 10S% I . i?; i?; 20% ?:>?? K l i?c, 1.19*4 i?;'.'"?? + 'i 31% 31% 31% ? ' . 171 ! 171 ?82 n?', i;-; 108 "j n; 26 ?_??;.. i::1?'. m 171 92 r, ORO 124141 12? 200 17% 2. inn 10% 1i k i 103 200 1*2.1 300 It--', 200 ?'.7 03% l.r.'.7", ; a? M a lli.-.l. .".?m 70% 71 ?h lio." fiOO ?_''., .".'? 27% 1.4IM? 112% 511 .?- ; R00 ss )00 112-4 11'.", pi?i ir.r.i, 155?4 ? ;ih? 21%| 21% I?;?;'., ? RepuMIo lion * St?o! 700 7 Repul M.- Iron & S. pr. 1'? Rumely . 200 Rumely pr. 200 .-i L.ASI F Eq. Tr.cfs 100 4 B? al ..vil Ai:- Line pr. 800 G ?Southern Pacific . lO.flOO ?: Railway ... BOO ? Southern Ralhrajr pr. ' I I ?j stand ird Milling .; 1"" :. standard Milling pr.. l??i Btud? baker . 1.H00 7 Studebal . 000 12 'i enn? see Copper .... 1,200 > ? tat A Pacific. ]?? t? ' mpany . Third Avenu.- R. Tl.... 7 Twin City R. T. pr.... 10 oi . l Cnlon Pacifl pr. 7 United l >ry Oooda pr.. Rya In'' pr.. ? i . s. Expreaa. ?; r. s Rubber . v r. s. Rubber 111 pr... - i". s. Bteel.' 23,S0ti 7 r. s. Bteel pr.| '_"-'?". 80 ' '??!? ; '??iT' " .' 3.500 > Va.-Car Chemical pr. '-11?" ,". Va Ry ??> I'???-? r pr 200 ? - Wabaah . 100 10 V,'. Ha Pati-a, Kxi ."i?ii 4 Western Union Tel. ? .1 ?'!,HI ^ w. tinghouae Mfg... a; w n] ? .. ih .I ?'?>?< ?Ex dh Idend. ? ? 4 13% 32*4 M :?i ?,'A*. ;:.'. 7i" 1 10 300 43 100 107 16.200 15-H4 1>", 158 ?Jim vie. v,i . S3' 200 07 " '.'7'," '.'7 100 42 12% 12 1?hi 77 ion 58*4 Tim 102% R3\ 110 ?"?7 ?jsl , 49 i?'J', 82 78 ?97% AVF.i*A?;i: OP THK Titinivrs i<?t or Pn ii ? N atAiTA M.s 17, ;aalaiaasj*a ?fase . IlaJfA v.,, M . n:"'^; \1?s U\ vor week ?so . V1 018 One mnntli a??. . IM.MB ,,,,. i-aaa ago . > ? * ??? llirh, year to date.11S.101 I. asaatf to dale.It*..ISO llicli for \pril.IMlMti tmw fur April .I1.'.:'.'.n IIirIi for Mure h.ItUHI low for Marrh. 111.'.". Hi?;h for Irl-nuir? .1*1.191 I mm tU ?'eliriiar?-..ISS.1M ?Ugk fur .lannary.118.888 i,,(, tui Atmmary.U8.14I ?Igt? for He.-eiiilxT.ISe.SSI 1 ss for |)<i ?oilier.I11JM lli;li fur ?...Trinl.er. . ..,-Hi* in? I ,.s? (or Vos.'inlier. .111.871 A\ i i; Mi ?T i Hi: I MMMtt MV9 I WT .11 l*,\ I I *. I IM't -il M B. Mai ?? I eMenln? '? ? \SOS M |] M si n. oof week ?so . Oaje month ago . 71 HI One sear afo. IB?88 i IIi?h. >??r to date.M 884 I ajaj ytmt I" 'I ??? .7-417 lliltli f-.r \|iril.7?.750 loss for Ap-il . ?*??*I1 llijh for ?Isrrh.11.689 I nt? for Mardi.7?.739 luth for 1 ?!>rii?rT.SI .as 4 I ,f 'er I e hri-ary . lilil? lur .Unitary.?! .'a? low for Amwnttry.HL8M \l%\\ fur Dnember.7?> Ifia lA,m lor Ileiember .7.1.7?? High for Nusrmber.744.'* I ,-ist fur Nos ember . ?, . GOVERNMENT BONDS. * . . . ? .... - M ? - IS* Ml 181 FORE'GN BONDS. > ?rail > a ? . 3- j 71 ? . ? - - < ?' ? ?asan.i . . , ... ? ?. a ISitmtu l^a.. S3?* 14J?l Vicuna 4s-M XI % GUARANTEED STOCKS. ?FurnlM. ? . . re .? l: irrtet, : - A -1 2:0 , !. ? XI Tt pt 11? C n p(...lM IM f 71 14 ? 1 104 . ' * I > 'lit 100 ?! V I. .1 tV.114 e...H> 110 N ? 1 . .!>...KO Nor ? ' ? 1 North Pel ? Old ' II il T.. ?.5 ?Pat X H II.. i:'. 17s Pal 145 111 I P V t ? I . . ?. .140 M Rui A t**B...111 ISO ?65 Bai ' ? ? ? ? 10) '? ?I ,, ?t.. ..7*8 ?7I * II n ? 1. 11 - ? I? Ml ?t? IWarrea .. ..las ? Beech 1 I. H ??. Tt'. ? I ? ? ? ? .-r .17'. in ..iw I ' ' ? ??in..'.'. Elm ?. Erie S : ? Fit i pi . pf l.-O 4: i -? ? n T ?>> a rr? . - . T..110 ?r ? II .'. C ' ? ? ' Ini III C L 1 " ?-. I . IA1C Mpf 72 1. : s ? . L S S. **. SECURITIES AT AUCTION. The fol 1 y es? teras* ? 1 saies ' : nruilai > atari sat .1 ihn g . ..-.1, Jr.. rec? Itlsaal Bank of Ne? York. . . .14.*, - Ce., ? ahur ? ?.: S ?har-a se? ?bar? ?1 ? au 1 - - sot - r $ ITSItj Il ..... Loraln, a.<; ;ar..i ? Beathers R R. Ca Icrapoi-ar** -d 11.tue 5 p?r cent gold boni, due laXM; Interest April an i Oui.U BETTER TONE IN LONDON TRADING Influx of Gold to the Bank of England Advances Prices? Continent Firm. |..n. May IT.-Th#> utock market tn il.-iv was more active an?l ?-h??erf il an'l gaHiarally lilsdier on short covering and i:.aa,prate farMh buying attrlh'ite.l to the bettor motiay outlook throiixli the Influx of ajold In tin- Hank of KncUnd. ''onBols ,'idvnn?. <! ;i ("darter ?f ?i [><>'nt. n.rnt I'ertl vian leBMOaj M?'.\i<laa rails and tramways anil the Paris a*a**Oarlta*a rose fteadlly. l1ie rloKf? was tlrni. Ainerlran ?ecurltl?M open?'d (ateady. with trading light at Hi?' start. The market Datad I.UT an?! n.lvanred under lead ..r ?',,. : n Pacific, which ftntoot I points In the afternoon, other siiares ?i.lil linar early galna anal clais-d sfa.ly. Hullion ainoiiiitliii; to t"JMM was taken Into the Bank of Knc;lan?l on balance t?) .l,iy. Money was in *;.I <i< mund and dis? count rates were ?'.is-.' to day. Mon<?y loaned 2'? to m pe. (?-?nt. Dlsaount rates for Bhort laill ? were IIMI per cent; for three months. 2 13-16. ? uisol.i rifled '* hlcher at 74 11-1? for money and 74*? for ?'-count. ?'.nid premium at Madrid was 6.36; at Llebon, is, both unashanged Taris. May 27. -Prices wer? ?renerally llrm nn th* Hourse to-day. The private rate of ?! scount was b% per cent. Three per cent rentes closed 20 centimes 1. wot .?' *?> ttWOOO 10 re.ntlmes. Bxahaage on London, 25 francs 19V% cen , times, unchanged. I The weakly return of the Bank of Prance when l*tBUa*ad to-morrow will show ; a gain of 30.hnO.OiiO francs in (cold holdir.ars i and a loss of K77,'"*0O francs in silver. Rerlln. Mav 27.-Prices closed slightly higher on Huera* to-day. The private rate of dleOOUnl was 2\ per cent. ?Sxchaage on Londaon, 20 marks 50^ pfen up li pfennig LONDON CLOSING PRICES. Lafat-atlM clo?" May 21. Cnn'oi?. mon?y- 74?;?) H'l-a.lint... 71 >? n.ite.1 .... 71". ?1 . tt% Bftltlni? I.' .\ ' ' !" '? 1 anadian (??, Il ? .<?? \- 1 'hio ..1 Ut. Wa-bt. 1? ai ,\ St. P_102 l>envr . 1 '. Bria . I ne N' para-i . ...40% . .m .iK C? ntral....lll l.iaulsv. I NM .\: . . Ka n a T?w N V. '?Titra ' ? ... W-aat... ?7 rmnla . .'m1-* .*5 EUllWaSJ ? Sfaiitlaern Pa Ifla .. M 10 a I a IflC .IM i *- (tool. <.4% Ual.aili . . 1 i. ?nc?, ? Kit, Nl ? 1 ork a ?, . , lent. M?y 7?. 7*>, ! : K in i 1 : 17'. Nft 111-, i s : 72S 9?** IM?-, ?'-'??? tst% 444 17 '?";? I ?M , < ? m% ia1% Cbgo. ? ?i ? \ + % - % +M4 + S + ??* + "i - '? - v. 4- "?. - H 4- g INACTIVE STOCKS. The following ta le flvee tba hid and a.-k..1 pri?e? tor .-to.ks which are listed but which wer? not datait In on Stock Exchange VVednaeday: 1)1 ! A- mi A?k"l. .... ; M i"'-. aim.. 4S?,i Am As ' do ?-r?f.... ??. Am B B l'f. ."" A Bll F. ti ?l'a pref_135 a c i r ?? t.vm ii7H I'll if. ?a.'. Ai? . al .. ?:; .i r ?4 1 Am Coi OU. 4.<i .la? pratf_tau Am En_10" Ac H ,^ !.. I s .lo I :<?f ... M Am l.i . ?'.<? ?.'..'f.... M ' Am Lo Pf ?'* ill i'f 4: ft !.. UVi ?il . If* Am Btl rdy Mi . Am \\ ooleti l? ? f_ 76*4 Ar,. ? P pf U . l'f 9i<>,, U '? 1,.U*M Bald Lao pi-1077? I : ,v ' ? ; I ? - , Bal ; llaU M '?, Hriiwn Shoe 44 ?'..... ss Bkljm i ?; 1*4 i ii insu la-fe . ii U M * P...IM ltd 1-nnj Ulai : -? ll*4| LW H i?t pt.iOXxi la .i i rel M . o, Lot v pr. .113^ '.?'.;, I-4>?i at rfaah.lMH 7;t'i? M:i fe Cot if U\k M ? Maanhat Kl...lS'i'i 1?,S | Mr. li.'P Ht 31 IM H uni ?alls, 131?? ?;..A4 100 ?So pr*f....iK , . lo pro?. Pa I pf.. 71 IM Mi h ' .'ru... - ISO - a, M .?.? Bl 1. pf H 3J i tlBtPaSSMpf.lM in ', : a., i. i. >T. M4 111 M K a- T pf. ?0T* 4P* ? . ' nt Pow?. 4? nfy a Saah .< ' h.n:, i*V& la.l4 Nh' . 13 J Mal k i .sip 10*a il alai pref _ 7 N;?t Utakd..., 4.". ?Ttt to ; ??? ...I'-1-! 1": . Ml of M'.s'if .7 3". t2*4| '!') Id pref. ll>. l.'j O NO MAC l'f i; NT can I. 3.: .. ??,, al.i 1?; I II . .1.1 .1 I l-f .... IM N Y Do?.... J I lef. ? 11" " N V 0 .?V ?V B ', ?: s.-'ith.. MVi , N? A W pf t*?aaj I.", N '? I A- I... M ??: pac ? '.. i i. .i,, do ut prof, M Tu do -' prof Vi llgu Paw T & T M ?3 4> IM M 91 '?> Butterick ?al Po? . ' , ? ? 'am .i i ?.f -2 C of N J, ,MS Coot I. . : C * I A T.1H Clii,- A AU. ? f ... 13 ' : ? Pf.131 '. i r i . I' B? I'Mi'l 127 ? ML 2" ? f ... il?? te prof, ici cri : ' .illa 22>)4 do l?t pf, 4^ ?lo 2d i r H I irp?t >l - .1 I ? prof, .. ? r au . ID I ?f_ ?< _ Del l..11.-'nil.', n? : ? i., prof,. . ?. : . : '. x. 4 ?i" ! rof.... t n * 1-1 V v I . MB 1.0 f. W Hell ' ?I : ?', i:." O B P pf i Jo pr?.f_? ' .al... ? I b ? tnr-tUi IHofNJ ' h II M ila? pra.f. M Mall. a pf.. 30 . '. ? I I Co..... M mi PI ; : C t Si 1. ??? ; ? ' .-, l'ett Mul . I -f. l'it's Coal.... 20 m pitta mi pf n n, , it tn ?car.. ?^ Mu Quli ksllvor . l<4 ?? .. ni ir.3 Hy sti ,<p pf. so l?al P.v BtM '. 4 ? Rataad lirt ' M do 31 pref M M , " I aM Btl ?if ?' ; ; a Rata k inland. 3', ?4 | do pref ... > . .-. l'a \ 1. ,1| .??:, b? La h r . . ? i do -?: uref. 5 ? ? ' ... ? ? | ? ?? :: .s?n. -o sniiM&octf? 7: . r ? i ' ? w *- . L4 IM 10 122 90 1 ? '"?3 a ?4 -t M 3? ? ' . I . . > ' I ? '. i M ??i so ? : I i ? a . ? 1 Kir? .1 ? Mpf .' K a' Kr'l A Ii :.! ? te i r?r: K'-.?;o i o . M ?Ol.. 31 I-.I- Oft! L sa w .. i do pr?f L k M do pref U7 l' i: | do '? ?'iirar 47'-j ? I l'n I ; I F ? . 37 ?.S 11: i A 1.0 15 . In. ?' 'Si: pf. ?a . ? IVa-C . h pf a p pf ??-?, Va? I C C. 4?. ??: '???? '., roi pf 1 '.o pref ... ' - ?TTnan-B ,XU IM : , . 9 I do i-a [ -M. 14 u ?r ? 1 -- ? <\ -s . ? :.' . 4: 44 ''??, 21 4 . 4 ' ?i ? 1 ?. IM ' 11 :. i . ? ? PUBLIC UTILITY SECURITIES. ?1 by raaell a <_o., 2* ii. - AMX nii. r, .< Am L? R ? . ? . v N "nt I.t * P l? 4. 4 I n >.. ?i M : : ... 4', t '. . .. u*e ' ti] 4o I_ 71 A W S'a I , - Pf II ? lo 11 i -?: .. 71 fo? I' K a L f.9 ? vrai t '-> n ? - .... rs Pod ?t a ' : ?a.? ic t? Sec.luO .. ?0 *. If ' a ? i I do pief.. H-:. II. *.- i.t. ;? i 'i i E 5 T<nn R I, ? p 14 I'll I.t . a , , U - "t > do pief. ;j l.u I A?k. ? i' .1 . M il U ?7 7 16 *< M ? - -ffee V(JM j_j, H arriman Nation alBank Fifth Avenue and 44th Street NEW YORK CAPITAL AND SURPLUS - - 51.000.009 DEPOSITS ? ?? ? ? $14,000.003 The rapid and substantial increase of bti'iness achieved by the H;wriman National Hank is firm attest of (In* sincerity and suceras of its aim to afford the community fa<*iliti?*s fully responding; to their requirements in the matter of loan, ?ir discount?., the care of personal funds, and every department of hankini?. 8ANKI1& HOURS FROM 8 O'CLOCK A. H TO 8 O'CLOCK V M. SAFE DEPOSIT VAULTS OPEN FROM 6 A. M. TO MIDNIGHT BOND SALES ON THE STOCK EXCHAXGE WEDNESDAY, MAY 27, 1914. Trading in bond? on the New York Stock Exchange Wednesday amourit-?] to $2,059,000, against $2,141,0)0 on Tuesday, ?1.451.0C0 a week ago and $2,3H. 000 a year ago. For the year to date (1914) ?ales aggregated $313,451^81, aqamst $237.163.000 in 1913. GOVERNMENT AND MUNICIPA gales h, 'j*'""'? High. Low. Clo tt l N-Pansma 3s coup...li)2 l?*'* V II Chlnsss CtoTt Ry Is. *9 ? | 1" Imp Japan 1st ser 4V?s. WS 88*^ h il?. 2d ??-r 4'.? . WM 17% *? ' dO 43 . 7su? "gg ; 1 U S of Mexico 4s. 67 ?7 I 1 N Y <'lty 4'i8 1917 May. 1014 1<>1's 10 I do 4'i? 1957 M.iy.1??7 107 10 10 do 4Us 1857 N'ov.W6"? 106", li? 7*; do 4>4s l'-iO .l'.l?, ?mu ).. i 5 do 4s IM res; . XM% U? M 11 ?lo 4s I9f>9 . :<;, ;,- * | 1 l ?lo 3*23 1354 . pS% n% ?', STATE. 12 New York State. 4'2s...K*9'j M?AA lof 1? N V l'.-in.il 4'2s .I1'..? . : HO do 4? 1962 .IM*jj lOi'a MA RAILWAY AND MISCELLANEOUS 1 Am Ar ?'hem conv 5S..100T, in..**. Ht 4 Am ?*.)ttori ?)il 4'23. It M ; 4 Am Cotton ?Ml 5s. MU 94*4 94 1 Am Hide & Leath 6?...i"J ' IM 1": | 4 Am les ?mo 6s. KU KM M I \tn Smelt ft Re? t'a....108'., ]? : . :? I Am T.'l A Toi col 4s.... n ? ?:.'? ?:? ?i. do ? mis- r .s . yy t u ? , 5 Aim Arbor fi . ?il 64 64 fi Armour ?.- ?'ore 44?.. 92Tt M% M| U A T A; S l* ?en 4s. 96', 9-'.-, M l'j ?lo ,'i.JJ 4s stp.l . R ?7 ?T 5 do conv 4s 1917.l'?>7. i ??-, IM* 1 ilo iiinv -Is IM . n 11 r,7 21 do eon** 4? 1960 . 971-? 'j7 97 2 R <*i ?i prior lien 3?*js.. 91'? 91% 91" ' 6 do gOM 4s . 94 '.-3-?4 M .".2 ilo conv 4'as . 91-, 91 ?? 91* : do P, s Sw dlv . H 91 91 : Beth Steal ist ext 5a... NU MV l Hkl\n ?'ttv Ry ist Is.. 101 '"' : I ! H H T I pe notes 191?.. WT? M . 1"? do conv 4s . I . ' l'mada Southern 5s...-?, 10? ? ' ' ? .t ! rial I Is. N j gS*V4j UM '.''.nt Leather gen fe... IMi M ? ? C? nt Pacifie gtd 3'-,.s.... ?l{? '?' . i Ches <<' ? ?lu" ?en 41.S.. '.'. , 5 .1 . - , ? -t I : Ch cago A Alton 3??s... 45 45 45 ; m q tren 4s.mt MU 93' 2 do ?'-.s 111 dlv reg ... IM Ktt tVi : .in ?m la Xeb dlv. tVk ?'? Wi 36 do joint 4s . 97'* 97'? 91% J CMAStP Ken 4s ?er A.. 95 96 9? 2 do pen 4U8 .1"'. VMM? WM, .. do conv -?Vjs .i"-"-* 1 P? 102H 1?1 do ts OMAPu Bd dtv. 93% mi IM S do fe C A PW div....l?*'4 10414 1?H*4 | C g N la Ms.vN dlv... Ktt |*u l?M 12 ?' T: 1 .t I* Ky deb 5s... Tl*? T1 ? 7 ? ?l dO gM 4S . *''? Si gj* X do l'-'f ta . 7. . 75*4) ? 1 R R col 4s. 31 * , ' Cln Band ft ?'lev 5s....'/? 1".: M 1 C C C M St L S'-n ts .7? .I r coi,, g South 1st 4?.... MI4 M k ,io rsf 4'--s. ?'J : 2 Convoi Oaaot Cht 5s...lC14 Witt I -, 1 4r>el? Mud equip 4*sj?..l''*0?, 100 2 do rsf 4s . MW ?**' ? 1 Pen ?- Rio <'ra Imp 5s. H H 7 do ral Is . ?N f'7*? 0'' 1 Detroit K.llson 1st Is...Mm 102*4 102% in ft M.'ii.-klnac 1st 4?. M M m 1 Dm Mom. s ft F & H 4s M 00 60 6 Piftlll Secur Coro 6s 5^4 ?? I Kris Ben lien 4a. 72* II?? 7? 1?> do cour 4? ?er A..VMk n% ;-.' BJ do conv 43 ?er fc.Tl% ?W "% Sales in ?.?A. High Uw.ciaa?, .; t>u Poal Powder I ? ? ?; su ? I It W A- l'en , ; - ,*k 3 General Elec ? \, ? ?? II General Mot . -, 23 5<*r.-nliy Mining Is.108 108 im* 5 Mo. (s Val 1st . . ??4 S!.; IL I I Illinois ?Vntral 4f 1951. M* ??A a2 ? ?3 Illinois Sto?l deb Se t ;uiu ??l? | 15 Inti-rtoro I* T ref is .. 99 (?& ?2 . "8 I::t.-r:oro Met 4*48. ~7'-, T7 7-} 32 Int Mor Mar col IM* , S;ii ?f ii Internat Nsv a f fe.... 73*4 "2V? 7?? I 2 Internat Papar crt 5s.. n Vi ^ I I Ii'- igU 5?. i ioss.-i ' 'ent rat is ? *'? <p 8 Kan City it 1 k m 4s n>4 :*., "Si ? Kansas \':\y 'las Is , ? t ?? 1 I.a. 1 ?'is of St I. 1st i 1<*1*4 iri - 33 I. eh ft M S deb ?.? , jj?* 23 Lehlgh Val c*onv ? ? ?I 7 Uggett ft Myers 7s ....121 m 12p 10 do fe .IG.?? :? lU mil I Lorillai-d Co 7s .in ?*** 12T 1 do 5s .? . ? , l?a, i'< Um Is A Nssh uni 4s... 9*. t ? , ?*: 10 du Is At K C dlv. t/r\ ?>?, ? 1 Mich State T?! 1st 5s .. :? ? ?a* .*. MStPASBM 1st .-?)" ' 9 Mo Kan .*?; Tes ist 4s . ?: , 1- do 2d 4s .7 71 71 I Mo Pao '-.o tr Ii 1830 . , mu ?s, 3 do conv 5s . 64 ? r'*, IS do 4s . M . ; i*, 1 Nassau EleetHo 4? ... 7? ;? 71 2 N Y Air Hrake cvt Sv. tttt Mtt S#* 3 X Y C .v M K rfe IttS.. KJ% y '? >*S 1 N v Lav k A W 1st fe. 110 8 NTNHAH cvt Is ? -"a V*\ i N 1 Q a.- W 1st r?f fe.. ?4 ?4 14 11 New York Rvs adj fe. 144, 15 N Y Taleph gen 4 :s l r/lag I.?.-kp i- u I" ta.. M H: H 40 Xort* A West cvt 4U9 . 1 '4 , ? 1 Nor Pa? T.-rm 6s. 10 do prior lien 4?. , . , 15 do rcn Is . -"'?% ft%% ' , 6 Ore Short L r. f 4s.11*2 9'.'? 91?, 7 Pa? Tel 5s... 9. , , 5 Pel ? , - ? r x j is.. ???-, ? 4 '*, I Rav ?'onsol Cop 6s.114 111 1.4 17 Reading general 4s. '..'', 9". *$?? 4 Bt L I M ft S sen bs ' * . I?-\ sMM 4 St L ft S K ref 4s I 6 do Ken 5s TtCol IT ? * . 4**?, 1 do 5s Tr CO C Btpd ?. j i i 44!, C?t Pfi Iml'ith 2.1 5s 1 Ht P ft Sor '' . '1" ....*'-' ? i ? Ii:*, I Beab? srd A l- is stpd - S : Bo Bell Tel & Tel 5s.... i South Pac - ol tr 4s ? . ? , 138 do ?*onv 4s . ? s :\ -5'-, ... I do ' ' ? J104 do CVt 5s f P .101 ? '. "a '?*???, nth Ry gen 4s . ... 1 dO 4s M .*? 0 dlv . 16 Texas Co cvt 8s * Texas ft Pacific 1st ' ? s R Third Avenue ref 4s... *? . ' , 3 I'r.ion Pacific 1st 4s ... lo do eonv 4? . 15 I'nited RRs OtMT i 47 T' S St?el 5? . '?'-'? 2 T S St.-cl 5s re?;. - *? 81 Wabash 1st fe . 9 dO l?t ref 4s. 17 go r- f 4S K T ctf Si ? 26 W?"-tern Md 4s 41 Westlniihouse Mf?{ r IW? ! 1 do 4s reg.9 ' ON THE CONSOLIDATED Upward Trend Manifest on the Call?Advance Follows. An upward market trend was mani? fested on the opening rail on the ConBOll daued BXaChang*. Heading, Steel and 1 Union Padfk were particularly active. . Heading touched 166N, Steel 63"? and ' Union Pacific loS'i. In many Instances call prices, although above Tuesday's closing figures, were tho lowest for the alay. This was true of Union Pacific, at 158',; Steel, at f,2l\, and Copier, at T2~i. Tliere wa?? a transaction I in Pock Island common on the call at 3v4. STOCKS. Shares. ? thi. HMh. I"?' '?'. pa :?.. Alaska Gold -v ? -- ? M ? Saht a*.;" Aui?i i ? , ? r.? 13 - . ? 10 All. B'.t Bit?. BH tt : '--'a '? a '?ID An,.r;...a tt% '.> ??H IT? i- Am i hi a ? ij M ;'1 5l ?10 an le? Ban II ii :?'-?. tint H 14.? An, Mii??,tin?; M M ?i-? ti ,?..r ioa% ioe"4 i'A\ i' ? *? i.? Anaconda ? 'op. .'.-?, Wi ttVi ? - t ' -. . M '-, M ?? '? ?? V2 'J2 M i- . 4.'. 4_ , 4 ?. ..>n II T.. M ? MM i?-? . I ? . l ??'i . an l'a. ... - 1-- i I'.'*. ?. I-"- ? ll> ? V. '-. . ?' ? ?- . .... . .'.: .1 B P i"1'? loi 100% i' ? i ? . *0| BOt 41*4 41'? 41 ? 41 i 30 Curn I'r. da U '? ?? '?? S10 Br?o - ? . -?'H '-? . I ? ? ? is pf ?.??','. <>7't M% '??? i M (M Nor pf ...? 125-4 124 . 1-? * inn Inter Met ; f M H ... , ... t U% ? . ' ?i.. ootor i"7', I ; 1 3i" Laoblfh Voile; 14" 140 -. 14" 1 , 10 Ml I > ? ? M '4 ?'4 H4 M Mo K a To?.. 17-4 ?7 . .11?) M . Hi', 17 ? 16% II h ral. M ? I-.' S Y N 11 ? H '7 ? - a ' . ? 1" Sort O west. .1?.:. IM n>r, HM 80 Norl i 110% 1 4,420 Re-adlng . l?5?i 166% 1?V. . ?M 1% il" .-? '.? . ?MVi i" Tenn Copper : 4 , .-? . 14% M% ... ' . 4.1 -. 4'. 4 Ion Pacifie. - ? IV? UWH 4,100 i ' ,?-,-,?-? in I ? ; IM r.<< Va ?'air i'l..-m. 23% ?% tt% St% : !.. 7>:? 7^ , 77 4 7s . MiNING. (?a? Allaita .Il ITH 17 .11 j U 44 14 4? 4 ? .-..r 1 4'. 1 M ' M 3.Hi .). s??? Jumbo Kxt . 24 .M .M -2t 100 M?, an I i" i W in? l.i" i 4??" Mil??..? ......? .27 .27 .27 **> North Sttl - -M H4 : , .90 .Si? .9?j a .le?. NEW YORK CITY BONDS. ?bald I v W. M <"o!?r & Oa . 4,1 r^|ir Bt> '>??; to L? ad :ej , BM AM ?4%o, Mar h. IM.M% ' . pt. 30. : ? . ;. , " . . I ?40. ?? ,- '? . 4 . . ? , : .. , *4%?, :. :.i -, , in '?'. . M . ._.J.? ? 107 r. 1917. , ?4',.-. Ma.. 1j17._ uea . ? . ISM. , Ni M . . ??? , | , ta N M . '-? , . -, * ? ? ? ? ? ? ? . ?' , ? . ,j ? ' '10 tant? - Ilff *t?rel tCoi? p. r.aa. |i; ?..-t.r-.-l a . TOBACCO STOCKS. QHOtatlOtTU turni.h^-1 i,. i. |? \% ink-"nan & ? .MM ...t M i Rrt.l.h A? T ' ! - ? ? ? ?? ? - ' . " '..-....- _ _ -'.? _ _ _ - t.... - ' . ? Cis.i ?toreo. u isi? ?? le p.ox.?. - - _ u- n?* MISCELLANEOUS SECURITIES. (Fun.lt-.icd ly Hi?r.a.> A Willie * ?_'o . NI. O l?r laaWej i ? 1 BM A??a?l Bid.A Am B Not? 24 (.... 4?^, Am lirai?.?.. ..134', a . ??' A 1? t '? ' Am \> S?n.. U% Ai 1' a ,.m..114 At as l'ow.. 113 Hii ros ?'.. H.. ! 4 ' | n pf I ?Mb 15 do peat - ....1*4 ? ? r.: 119 II fa prM....lM% liMVi. Mar W ? '.Ml. M 1 at...., 11% i .o pi" ? . ? Hush T' rra. ? . 10 ?ret. II Chlldaa Rem 1.5 . , - : Coai i. ?Me. N Com-Tai :t 11% 1> 1. ? '?' R ? di P EniD M * I. 5 do pref_ 15 E \V Hll??.. 85 ., ; r?f....Ill BUner-M ;f 5 Gen ?saktae OVA d.? pr?f.... 43 Gray N Tel ? Hud ?o? pf ? ! bel D .t- roll* | l'ope Mar.u.. ? -? _ -- ?Pr a won pt 9? ; ?w <"? 11 '1 11 II n n? 10? 1.4 ia u ii% u 7? m a 4 ICI M MS ?> l?? --r '-, IM?4 . 1. ? i ?a S'.-.n-r ' iHlnaatc ' . Motor lsaj ? ?1 a m a tu i. RAILROAD EQUIPMENT BONDS. <y u. ted on a ptaaaatfeaa ' (FtirM-hrd by Freeman & ? 'u . 34 p:naa ?t) lt.it Name. Maturltj ' [Mai Aa*. ?.' roaaat Lin?. I!?l4-'2l, I (?4? ?'5 4* :? .?i ' a llo . . - ' . 4 ? 4?* i i ; um I. ..... 4 ? 4M ? ' ' . . 4 'A 4.0 a -S 4? t S I* , | (locking Valley ? ? - ? ' v ' N > a . ... I' - ' IM U a V? 4? .' S) 5 * aW *? 1 4 ? ? , MAY 2d TAX DAY Ltmt tiay to p?-y P*rre???al Taxes or frrot htaif o? keaj Batate Taxa?- witiiout penafity. Send foe oar TAX PAYKR'S CALBNDA1 Contatnaig dartr-? ?ad Bifor nuattJuaB niyioX Local aand fearVral T L tyoBrrxiixvtry RfUi J?iO 34$? lma?V-o&S-iiSl h.eu AxC-W*St "t II IKIKIlUl l.?V*4.' Union Trust Co. of New York 80 BkOADWAY rifthAv? t ?? MM?%a"*an*4?Mafcaa Capita! and Surplus $3,300,003 Allow. Ii.;. ir.? on D?i"aMlU.