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flCS OF DAY HI WALL STREET u?rKct Inswera Question Jotil rhoroughness of I iquidation. pjfCIAI riES GAIN LyCHANGI OFHANDS Pe? Cent mmon, u'th War I \ i Included. ??? . me ?or I] lonK ? .? - ? ? i ? ' ' r r? a, how - I under the >ns ami i - ?? ! Ul tai h ai ,.',?, "ay or rerhaps ;.,'? ,-n; -.-,- ~ie when t ht? pap ' ? If the mar ',.-,- a - - ? ?reeka aaeread with? '. x-- - ?W ta-gf. lnreet *,"-?' tkey M g< ' ha >epended lft'te aalt? part II a r? in ? ? ? ?_ Can's Good Taai anrl Ontltiok. Ajsorf th? Btrlal company nv -U rt-, yesterday that o* .'.', A-.- - -. ?ras not the * I I . , Ventures and . . ; stack i batanee o*" !.. ?' . . Nearly i. equip ? ? para! r? nniagi ? r 19H ? 1915 I ? -ar the It ? ? ???i per cen* ? ? .-'-? the ccm .... Btaeetakei - ar Exti Per tas s? ???ora * l the res rtat, After 1 ?f ?? ? man? ? ? ? ? ? . *ir r: . -< ? * "The War's Ml Over." tradera wil report-' ' ?in thai ' " * ' ? i a '? ra policy, without ? et, wh>h ? So ring n our ' of relief, ? VOTH i -.. 'vni'ji iTATi ? ?.-i in.in i-irr am? ?"i : m i OMPAVT. : . , - - ? a r.'.vl ... , ? . ? , period andi . -? ?1 iti? ? ? i aivi ? ? * a aa 1 < ? '?'.ir IStra, - ra M?y ?th. ?h 1 * . ? re - - ke will not ?- ? t one ? I I l( I I..IIT 14 I 11 I IIMI W > ? ? - al mit. hae - 1*11' . ? ? ? ? ? . . '?? .- ? *??* -. s? At-aa? ? ra of * ? 'tri | u ?W0J! him. COAL a . . IKON . l.MiWNY * ? ? quarter per ".'- k ? . "?? I " ? ' ? .- will he. ?f . * , .'"'?"II I mi,? ;:,|UU. I a . ? VOM) SALES ON 77//: STOCK EXCH INGE I I I BOAT, IIIIKI \U. 1 111? Ir.idin-f in hnnd? ?in the \r?i Y?>il% Simla luliim-i I.""in ini.-iinl i-d fn ?i OHO. .ifjaitiat 5.->.1Pl.<>0ii Mi?f.Lu. -IK. . ?urn ., ,.,,?*. | ?? ii'.-.ouii , leu .i?j.>. i i..m Jaaaarj i t.? ?Ute, $119,1 i la pit;,. i,o\ l RNM1 N I BONDS > . , ? I .......... 14*1 i ? ?? . ? . ? 4 < * aaaaaa^M ? ? . , r BTATI BONDS ' * ' I - ? S'.l? I1? 1 ? ? Ml Mi il w BONDg N 4 I ,4a, N 4 a ... ' ?? M '. ? | _______| i S',4 ' ? ? 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Arn BflfW to Mo P?d -?-O ?? ... . ... 10IH ^^^^^^^^^^^^^^_ .. n ? de < r??r 4i So Cal at lrti rtl 4*4,? ? *" ,.u,, M , ' . i?u Ctnasc -ar.t T?; !?? ..... ?! a 11.0' 1"** 4?- ?i D 4 '?" .*-. !?? ? - ret? " - I i 1IV14? ta m M if-JC .J?4 '^Ub-H Al "o .14*. "-'-' v_..111 <*uv? K I lOMaj ?? ? ' ' ' ? 4 ?aH a it -on ?i , * <1 --? 4-,, f3 a ^^^__| - "~s____? ?a ' to ... v% r ? 6 n ?Hi e?lit _ .iea_____? ?. ? ? ? ?'i? | 4? : ') r?? N : o -? 4? ???-? ? r ? - - ' "? 3'T ? '. "?'?a ' -' ; ? a 4 * : ?o H P T4jr to rata ni? -Kant*-.?-. ftr to ?0"0 .1M*4 do 4? 11.04? .?"*??-? ?. *? ?Jo 4? MobC? a O 11? U'J* Iftandtrl 0?a A Y. Da .MI ? - ISH Bit-' "" ?? ?**i l'H r c i a a a ?i i 14?? 111 f-t 111*. - i:?-. 4 ? ? ??>, -?i ?. IN '? *.?t ?? ?"? ?? 4. ? 1144, ____* .: ? o? ? : i T 4?4.? ? !?.', 4'?. I? . ' ?* . t. t, B 4S W Ti 1 B? to ? ' a ,, I?V ' ' ' '* . ', IP"-., ? ? ?? 4. ? _^H __BBB??????????B L?a?BB???????????l 11*4) . ??? * 4 ,4 1.101 . I?l> T. ' I .4 ' ? I. a 1 - ?? ?. ? ^_B *"*4laBT4aB??????B - 4 ' . - ? * ? ? t> 4? 111 s????,'% 4 ..?? r. t. i ? 1 a. I T-?n?i: I .. ?. 1 ? 1 ' - ? ' \ ? j ?? - ' . ? . 4. ??? A !. ..- ' ? . Il - A DO?. m 4? ? j t '. ' ?? i ? ? ? ' ? a a _ l.rwio 4 ira 101?. - '? '?' '' *? ?. --?> ' _??* . a t ?. '?? ? I! . '. 4? I . *. ?! im ___?? ?OBI 4? ? '? ? 44,? ' 44,? '. '?r r.? 1 -..? - : ? . . ,Hu<1 ? . m* _________ ?sor a? '. to 4 ? ? ' r . . '. ' I r'r .?-???**" _???_ c 13 4 ? ? I? ?__? .?M '? ' < ? .4 - ' ' - a 44,? ?m : ,?,a " .1.1 ? ' ?_____________. : *? 4 < '? l?1 4? .-1. ? ' ? 4 . ? , I - i* -4 ? __? '? . .? -, ? '? lia ?? ?4 < 1 OVl i'NMI'NT BONIiS. ' ' . ? '*, - 8? re '? ? _I ??"a Int Mr- Mi 'S-101 "? ?a?- P? ' lcoup.1014 I H 1 ? '? 4 ? T, i A?k. 4 a - ? ' 4 ?' 11(1 ? 98 i - 1014 - "The trar> all Brver," wa? made to mean more than a mere eessi Hoi of at priesa Ptalahlag Strong, V the ei Ulli Chal sny had u i . | . . | ?. ? i? than ? e en tile \ arter ai *? ti $2.017,71 : ?i* ? losa <"ii 18,916, in the lB"t q I which ??.err? I twies uu large, s i raftl of no less thai. 445. -lore than the I ' quarter? i mhini <.4>lr! from Ruaaia. ? ?? year it ?*??? auggestc t h ? tenor of K ? ye! lie ehipraen! ? of a d ta tl tria Vlad i oatok ihe I i- ti al ?1 would he r.f eterling r>i ' id i /nid supplie? v. ou?e ths fnmmnii good. Now i! ?. '.: err? actually i? it ??hiprnent of trold on ?- acroae th.. iv it ri.i.v aould not diaeovei ?'?> gold ! ? ? / l-i two J -? ' I . exchai ' I ipment a? well as rul ' 1 hi- li ? ii ol ftlg front in Ktihanre. tVhili i ma! I grad or Mo in g travi ? i. coi ?iderable in trail" *. ths ? ' dinary unt in the ruhle v S prol.1 . o?d i ??>, l.ecnuae, II Via ] ? r of em] from 1'.'- sisfto ! I ? - transporta! on of raunll ? The fjold that i* coming p?rt of i! ? . ? I to London In the ?un meT of 191 I ? - I ? -? a! i ?here. Japan May Draa Cold Here. ble iiefore ? ? I of 'he wa ? I . ? ? ear ?'? ? about *- "'a? bealdi .... ,. ? the eno ? ? arrj in r In the ? n of hu ''irk ? i cirri M ? i: l?verai othi tries, Th< of ei 1 .Tapn the expor oi gold froi ?-? ? REPORTS $40,000,000 IN WAR CONTRACT! A m pi lean ' an's N< '? Earnings n mir.. \ ? a rn o ?in ! ? | ? ? ? ? ? ? ? ? ... ? ? I ? t ? ? ? ? I A? I II M.I ill I III 1 I ,,-t Msl |??T or nil i i s im? I . '?? II i. . I . ?-.II-,,! M H . i,,., I I.I > Oi.r nr Ill I..? f.M I .?. llUh f..r *?? , ei |..,-r II II li ?il linn ' , .., i. ?lian I I ...? II h I ...? II ill I ...? Illah i. .? Hlgk i .... nui. il ...i., - 41, '..I,. . Kepti v, piembee lateral \llKU.I .1 .1? .1 ,1. I I HI, ll'Sl. I '?. r, r f.ir f..r tor full lull full full ?I .. 111". .m. ISIS rir. lut rar. 1114 At i it H.i "i i in i miiim: ut I \\ i I ? I IMll'HTRlAI ?'??in inn ? i. ii??li?la?j*a etaee Jaaaterj "ii 4llir> ?? r?H if i? .... i um a ""' 'i aae ln.r . -nr in n . IMuli 'nr ? I.?>???? ira I ., i.?. I . II IK I, I I ' I i I i P| . n I.. ? IIikIi fur \n?' nili.T . 1 ...? fin "...i. i.ili.r . . Illkili f"t ??< H'lrr . I ut? fur tli-lnl.rr . Hlah '??! eVgleeabet. I o? fur ?Tiilamlirr. Illa.ll fur \ilKU-l . I oit fur Auntie!. il le: i< fee *?lj. I Ml, I,II .lui? Hlfb im Jur?e . I rat? f,.i June. HiKli tot Mi' . i ?-?? f... Mai . Hl?h, full ?rar, IHIft. I^t?. full tear. 1W1S. lilt*., full year, 1014. 1,04?, full yea-, 1814. Ill, ??"! I '? ' ' !. - ? ?11,1 I I I I mi in' i !S Itl ? ll^r B, . i I ? I W. 411 I ss.ise m tm !l' Mi II sa tsa u.iaa SI mill m >ia i -i 7S 111 i. ese 74.47S ag.iaa IM4I ?1.144 ?7.411 LONDON MARKET QUIET AND STEADY \m ritan Securities I ower No Further Decline in Gilt? Edged Issues. eoni ?? Feature. A ? VITO I ??['-. hi.il ? . ra ..? count rates ?rere i . ' were ? ? LONDON ' l 08ING PBK I . - ? i ? ? i I - ? ? ? ' ?'. ? ? - ? ? ? ? . ? a INACTIVE STOCKS ? i i Exchange Tuesday ? i I I ? 4 'I . . lit ? 1 I h ? "4 I ?. r k T pf. *H ? l-l. I ? I !. . ? ,t AT i A '. ; ? ? ? ? :?* < i i. ? , , I I , |. - ' ? : ' - ' ? I : ? : ' IH\ ||i! \n DI i ! \!*l I? A - ' I ? ? ttAILBOa-U) - ; ? ' - JAPAN SWELLS LONDON FUNDS ( ancellat.Qfi of Bonds Brighl Spol in Dull stock Market. Gil I EDGE BARGAINS OPI N IN COLONIALS \?u V'-ik's Weakness No Sur pi i*-' in Vie? of Persistent ! uropean 1 iquldation. it? rif \\f m w. niKsr. onomlst,M London. [B| Bpfa-Jll Cl ? -, T . Tribun? 1 l? on, Fel ' Tha wonkness iti *?-'""? . ? atirprlaing aft*-r ng i" ' i'.-i ? ? itlon in tho from ? ? t th?' ? ffltja, which are b? ed here and an n me aid from mir or,?? proa ? ways the Great American the only company o far !?> increa ? it, dividend rate. l'-*"-i?!? .t. Wilson's new attitude puzzles our press. According to one authority h? is moving simultaneous I ly ait-ainst submarine murder and i against blockade anomalies, Tho release of colonial stock mint mums has opened many gUt edge bar? gains to investors, but, of course, purchn-iit tr p. aver is sadly exhausted by the war loan rombinationa. Fortu news from Gf"rrrnany indicate tress ia accelerating "?peace pra ?>" there. a ON THE CONSOLIDATED. evidence on .? a,'" from the teel did not i and i ? Mil? Kg. (-? ?? ' ? UK. .... I ? ? . . . . I ' ? 1 4 I ? . ' ' I . ' a a > . < a ? . ' . I . . .< ?4 4. '. , . .'. ? . '. . ? . 4? , < . ' . < ? a ' a ... I'? I . I . < a . . . . Ill II . ? a ? . 4 . ? ? - ? ? . ' ? MINIM. ? . ?? , I 4 1 I ' 4 - I 11244, 4 ? ' I . i,il a N. Y CENTRAL WINS SUIT Supreme f ourl Refases to I'everse An thoritation ef Bund lasa? ; , .b i The Mew r? iad ? impany, formed ? M ? merger of eleven ? ghl in the >upr"" ? ( . I the op position 1 The ? is opposed by Clar . ' I J Pollita, of ?. ty si .... . - ' -janee ? ii the ? ? - imu |4 Dividend Bus;-?. ? ? ' ? K of K ennecot! Bondi Unpaid. ? f the 1 ... Gold at Assay 0f.ee. ? $3,500,000 The Columbus Railway Power & Light Co. First Refunding and Extension Sinking Fund Mortgage 5% Gold Bonds Dated April 1, 191 ?; Due October I, 1940 Irreramt per?"? aBCtl I ?on '?'?'o?????' 1 la ?lew Tr-rn. PrtilaiJ?!pKa m CelnmSo? fV-ip?,e "or???* te Il SOS ri?? . i. IHa?e Ci ? ..a' .aajr !.? r-|'ar<i?d U??l??o.?ri'? ou le* 'o'.r?i a?'? ?? ? wh"l? er Ir p?-t ?i l?t o? e'.i'j daja no" ? il 109 ac-l i'?r.jejd aiere?? GIRARD TRI IT OriMPAVT. PIT irAPKf.Pni A. ?aiiai'BH Approved by Ohio Public Utilities Commission Lcgel investment for Savings Banks in Rhode Island /ipplication will lie made to li?t thia iaaue on the New York Sto?.k Fxchanfe Property?The Columbus Railway Power Pi Light Company Owl llld * :" '?* street railway and commercial electric light and power systems in Columbu:, Ohio and vicinity, serving a total population of about : 50,000'. Security: These bonds tvill be a first mortgage on the electric llfht and posvei ' ' heatinr; properties of the Company on the reti'ement of certa - ?es which have been called for payment and a mortgage or. the railway ? ! Replacement Vp-hic- of '**** prope ? luslveoff.I * ' \ * h c timated i y engi eers mor? ?rig the present issue will be. c I ! ) Earnings: The Company reported for the year 1915 net earnings avail? able for interest charges of. .?1,266,738 For the last five years net earnings available for interest averaged. 1,14 8. ? | This compare i I u annual interest charge on the $10,595,000 bonde*! debt of the Company including present issue, of.5, 498,430 Net earnings 1915 two and one-half times new total interest charges. Net earnings avrraged for la3t five years twice new total interest charges. in letil matter* p:t?tn<nt re tMa ?a.?.? ?ev? ?'??? ??.??-: *m ?>?/ l?e. Jo.**,s *?. rin'k ?f Pktlaitlrki* mi Unie-.*? ?aal Burr n' ' "i?-n Wa ii?t ci?i?, il t*t mortgage mev I? ?eon an *??> i ?ri.-? el tie offteti ef I'll ?trader etfai eat. at member of tie tro, ft Dan antl BaSaSaSSSaSB, Bnfiooor*. rw.otW.fate. aa* v*t-w?tt Mai ertayer-t?. el eta? roooott. ankt a rarem* at Me *n4W? it ?eat'elle. Tonna?-art Moooipte af lae Ceaayeaar teta Se ateaeS ?aa.Jta?i goUoary of gm?mtttnm t. n?* Price 97 and accrued interest, yielding over 5.20% Descriptive cirettUr en rtqutgt E. W. Clark & Co. 321 Chestnut Street Philadelphia Kissel, Kinnicutt & Co. 14 Wall Street New York Parkinson & Burr 7 Wall Street New York \J\ ill I The Union of London and Smiths Bank I LIMITED HEAD OFFICE 2, Princes Street, London, England AUTHORIZED CAPITAL SUBSCRIBED CAPITAL PAID UP CAPITAL RESERVE FUND - DEPOSIT AND CURRENT STERLING. 125,000,000 122,934,100 ? 3,554,785 ? 1,150,000 ACCOUNTS AT 31st DECEMBER, 1915, ?46,080,541 SIR FELIX SCHUSTER. BART., Governor LINDSAY ERIC SMITH, Deputy Governor l.L.VrlRAL MANAGERS H. H. Hart, (Town and Foreign) L. E. Thomas, (Country) H. R. Hoare, Secretary ?-?.:??? ? | ' * lit 1 ... , . . TRUST COMPANIES' BIG WAR PROFITS 1 ???urei for Year Shou I arw*c ? irnlags, Despite i ow Money Rate i . - - i on capital, 17.1 i ? ,! and . . - ? ? itioni - ; ? ' i ' ?' ? ? mpi las! . ii ?bowed r ' . ? ? . , l per-eei l h? ' - ho es .4 ... .-.,?? ' ' . . ?.. IUI ? SMALL EXPANSION IM JANUARY FAILURES ? ? i.nrv. ? ' i last i "?-.?.. ? ? - , i; .; ' H , there ?re rhlel ? - - ;- ? ' . . - ?s;*?' ? ' - ... ' -