Newspaper Page Text
Income Tax Proposed Chtuiges Outlinrd for thr information and comrrurnor of bejaa MOpk Ivlafl .iresubject totax. By mrans of the chart con tained in this pamphlrt the proposrvl crungrs m the law may rasilv bi comprrhendrd. aSetid for thii pamphltt, AK-tS. N.W.Halsey&Co. 49 Wall Street. New York ? * Chleaaa F?n rrancl*c? ireland Aa Invotmrnt of Merit AT PRESENT Potsruin*. lai eptional Po?tikiliriei 10R THE FUTURE International Tungsten CORPORATION ? 'n. t'.c e;r*??<-t depoalt . | rt. Or* in th* World | . : ftvaa dr'.iileJ tnform?tion ? | o:> r.?ati**t Price $7.50 per share (Par Value $10.00) Case, Underwood & Co. Invcstmeats 52 Broadway, New York .4,*j?. ?.? l?lt Frond Henry Glews & Co. ti n is 11 aavti mimiiHc- V \. 9TOCK EXCHAJIOE Stocki, Bondt and Investnent Secuntiei bought and told on commitsion. Also car? ried on cuaaauative tcrms. Depoiit Ac ? aaata ra ??d aabiecl ad ai sight. luterett paid on daily balances. rtat Ava Third Ara. r. rren Bt. Bklytv \lll,-li r,n ritUMI 4 "III. ?,r. .il V. .-Irr-t Powef B8, 1916 ??a. .ii- C i- I i leetrle < aaa. I'owet -. ieei Geo. H. Burr & Co. BANKER$ 120 Broadway, New York I San Francuro Scovill Mfg. Babcock & Wilcox FREDERIG H. HATCH & CO. I Baajatjnae. SIJ I?r.m.l M.. ?w York. I ESTHEHI SEGURIT1ES Bigekw & Company 25 Pine St 'Phooe 6290 John STANDARD ,u % I9BB i "?0 i on I. 4 T J l? I llTr M*.IIII? i n i i i e a 1 , ..(l> 0 11 r'. o.KI I r B^ "? CARL H.PFORZHEIIVIER&Ca 4 . . i road ? . K I Wm.A.Read&Co. New York C Ii . ig? I'lnl.rda-lphiH Boaton London SEND FOR IIOOKLET * I he Saf ety ol Savings' ijani-ers Lwn & Investment Lo \ ? ,. 14 ii t i ... I. \??.< t.ii imi. .-,.,. ?. I.. 83 M'aJI Bl . V V. I LN \N< I \1. MEETING8 ? fl ..I \ I l<>\ I 1.1 M.K.ril ( <> - - Sto. k will b? held on 1818, at 13 o'clock r . ; a | .... tb fl ?4.4 4 .'. Wl t B t ll m, .. aa may !?? ? Kfl will ba cloaad 1818, and i : H Ml'HST. Preaident ? r?tary. OIVEN .. r ot th* i ' 4 . i ork, on thr a ' 1811 at 4 a ? ' ?? torthwltn ; ai l i I ROHM l>:\ IDEND MiTH KS. "I I II I <>l l.l Vl>l\(. < (.MI-WY. _, i?i* ? ? ? tl \ ? ? roury MARKET NEWS AND COMMENT Stocks Decline as Street Waits on Meeting of Steel Directors. EARNINGS EXCEED ALL PREDICTIONS Net of $81,126,048 Sets a New Record -Extra Dividcnd Pleases. Wall Streel w* lay for tha ' ? Steel Cor] ora . earnings and divider.d.s, and in the mean til itOCa prices dnftrd aoraawhat lower. Baraly more than a nonunal market axlatad in many insues, dealings dropping to 295.000 ahan s. compared with 400,000 the picceding day. - remnrVabl* earning Malemcnt of the l'nited Statafl Steel Corporatioa for the Jv rt*r and tho bbboubc** ment of the declaration of an extm nd of l per eaat on the eoaunon not eoroe until after rhe ? ? y did bo! reflecf ? .- - . or divideada flf ? aad above oven ia tha Street, Preliminary unofflelal aati ? had ranged from 172,000.000 to 1,000, while the average Wafl aroui,. . ? ? Phfl ngaraa aal a new high record. compurir.g with a pre vioaa record of $?>0.713.?>-M. mado the , first three months of the year. Declaration of 1 per cent extra on praraoa stock, c&lling for an ap propria'ion of $6,063,026, was very' a, eonaidering the total of earniag rt*r, The fact, revi ? . - rfeemed it n.lvis. : c>n at all at this time in addition to the regu? lar diaburaementa, particularly whon incom ahowa signs of i ecepted ai sion of eoafldene* in the outb ok by thc t fiaaneial intereata in the eoun? try, aa rapraaentcd in I In eoi it, on the thi ro arere I that tlie di ?rould pn ' en tne ; ion of th,- , her by withhol ling extra . cor poration for thc laat quarter n yeatel ment of a special reaerve i a of poor bfl I on the comrnon fltock rithout j such a fund, have to bl As has been the CB1 IT now l - m fact, i'v, r .- ord-break* Ing booi try began earnil : ? [uarti r From a. 1- ?, i eal j ear th< ? ?? than 8 ? 914 Profi bad thc ? vrry rani ? ilves yea i net m rhe daj. ? aey of ard. Loaaea altlea, such as Ajaericaa Beet Sngar. Amer? iean Zine, BBttfl Br, Mexiean Patrolaam and South Porto Bieo Sugar ?on i oi I poiata or more. Ra shares as a rule about held their own. .??. I fluctuated between and a low of 85V* and closed uachaaged at - Rep. corr.par.ies yeaterday, and thc rcumption of divi of thc ean Hide and Leather Company, .: Of 1 that largi I '?'!' '? haa thi I renewi . i arith some new loaaa madfl at 2 per cent. \\Ml\..l ol llll. TIlIHIMls ll'i iil I II I I I S K \ll48, july a>, 4.?tei.i.i>'a ?taa*.. I1B.S8B Jab ^i.118.686 line 44<-.'k 08*. 11 Htl'iH ii.,.r ni. niii aaa.117.666 one reac hu,.. . iiir.ii for .inn*. i ? i iaa I.nv for .liuir. 1 17.8*6 High for Miiy .18*4*88 La* raa Hai . 114.188 Ih. m for April.118.841 l.,., for Aprll.11 ' iaa n,ti. iaa March.111.616 low fur Mar.h.118.888 Hill, far I'H.niary.116.618 |j.4? for ret.riuir.4 .118.781 lllgli for January.161.866 Lm for January. 114.811 liir.ii f,.r iriitf.138 iaa I..., for 1*18 . li 8.4*1 iiir.ii fuii .mr, ui*..i 'i iaa |.,w. full ..ar. IB18 101 1*1 A\ ERAGK dl" 1HK 1 Kll'.l Sl 1 ? 1?8 til IH l.l \ I. INDI BTK1AL8. JuIt '.'.",, jrv.rnla*'? cli'M July M. 81.481 linr V4< .1. ui;. Oai ni,,uii. .4KO. B9.0M <llir \rur .(? .84.818 llir.li le* Juiie. 84 I ,u I ..? for Jiinr . 8*.8<fl ?Igfe for May. Bl 88 l ,.\. for Muy . ?Igh lor Aprll. 94.1*1 I 044 for April . Bl SS8 Hl** for March . !,.,? f,,r raarcfe . ?Igh for IVl.ruiuy . 84.811 low f,,r I V'.rimry. 81.618 ?Igh for January. 88.88* I r.? for .Inn.:ir.4. 81.161 ineh for miri .aa.aea low for i9iii. a. na IliXb. full yrur, 1616. 86.1*8 Law, fuii ?raar* 1618 . B648I PIBI.K ITIMTY SEtTRITlES. nn iu 1 A>'< ?Am I. A T ' 8*ed L A T U p . ? .. lo pref - ,,._? ? al ,, ..- s ? u a ? Am P a aP.I N I 4 ref ... 74 : r. i iua i pf. K I . , ? -4 ? * BL l " V ? - :'i pr M ? ?ta flMaa | ti-ar aalai I'o a U. S. Treasury Fir.ances. 44 , ...... :?'?'? ai ? ? 4 laal >? ... ... . I ? . ? . NEW YORK STOCK EXCHANGE TUE8DAT, JI'LY 2 19lfi. e/cet eaja nnd Mt*SM a veer aeej. Freea leeeaij- I ?? d,aV* , "' . ' ' * ,? ........ll* . ?.ar .... All quo.ationa. inrludin. ...nu.l dividend rate* ar. ilfillarH. ' E i . B 80 6 10 4 Aema vea. ? ee Ramely. Advance Ramely ar.... Alaaka Gold Mlnea. Alaaka laneaa. \ I'halmers . \ l baltai ra pr. Aaa. Meet Bagar. Am. Beet Su?rar pr. Am. B. s. I ? etfo.... Aaa. B. s. & F. pr atfa. Am. Can . Am. Car I Feoadry... Am. i oal Prodoeta. Am, i otton <'',1. Am. Hide ?<?? Leather., Am. Hide a, Leather pr Am. ke Secaritiea.,,, Am. Lini i ed pr. Am. LocomolIva . ?ira pr... i \m. Smeltina . ', \m. Smelting pr. 8 Am. Smelting pr A... Ka Snolt . Am. Btael Foundry Am. i agar pr. Am. Tel & Tel. I Tobaeee . Am. Woolen pr. Am. Writing l'aper pr. /inc . Ai i Zinc pr. \ ? oada . Atchison . \ t< son pr. i n l ocomotive... I itive pr tii re & 0 io. . | ? i| ... pi Brooklyn Rapid 'l rai lil . Butte .'. Superior Cop lian Paciftc. ml Leather. 7 Central Leather pr.... i haaajinaka & Ohio... i hl, Great vTeetera... ? i hi., MH. & Bt Paul.. 7 I hi., MH. & St. Paul pr bi. & North Weatera . K l. A Paciftc... no Con. Copper ? - - I'hile I'opper. I oio. Fuel & Iron. ... ,<.? Soathern. boL Gai . ru Produrts pr ba C me. 7 Cuba Caae pr. - Crneible Steel. Denver & R. G. Denver I R. G. pr ? ? ? ? ?n. 6 Distilling Secaritiea.. . lsl pr. ! lectrie. M ? ira. .; Goodi ich, B. F. 7 (it. Northern pr. rtl l ire. subs.. < ? pper. 5 Illinoia Central. !'.' pi. s Inap oppar.,, . i on. .. ? ? Mer. Marine. 2,400 -- Int. Mer. Marine i?r? 10,200 ? Harv. of N. J. - - Int Harv. ' orp. nter. Pnper. ti ? Paper pr. 100 100 II 100 92*4 7oo L8H 1,800 ,1 900 21 Vi 900 73 B,BC i 90 100 91 10 102 110 ITI ?900 68 100 Ml 2oo 1,100 '. iVi 200 28*4 100 44Vi 9,600 86*4 100 101 ri 700 93 '* 100 110*4 200 93*4 100 112 290 i I i 100 111 100 100 2?J 900 N 1,100 28V4 4,'joo S00 85*4 8,800 79*4 700 lol'j 100 '.'?>7 6,400 7i % lil ? 1 62' - 1 ', U9 120 rt 129 Vi 129V4 70 ? 100 105Vi 105H 105Vi 105Vi 129 4 129 129: il ? 1 l,70? -V 200 74* 100 -v 100 6*1 8,900 600 177V. 1,000 M 100 111 1,'ioo 61 800 19*4 1,600 99 200 129V*: 968 1 - i li al 128 1 4011 20Vi 20V4 20 ?17'? 47*1 20Vi 20Vi 20Vi 46 ' 41 -ii - 80H] :!0l2 30Vi 188 186 90Vi 90*4 60 60*4 99V4 .?; - 68*4 69*. 67'4 1 1*4 I 1*4 '4 I 1*2 Bl 400 1.400 4,100 100 400 in.v 100 90V4 1,700 300 7,600 100 .'. ' ;;- ' 1 100 199 189 l ' 1 100 43 '. 16'. : 86 : l.ooo l'V'a 11'..'' 1 ' l?8 400 409 600 490 800 73 Vi 400 n- '? 200 600 19 200 l i ll - 16H 400 11 >'. loo 80 81 70*4 ?,.', i, 16 128 Vi 129 Vi 129 1*9 800 73 Vi 11H 16 45 ' 41 41 ' 16*4 . - Vi 2,100 ? 1,400 1,200 400 1 120*4'1 200 127S S00 7300 BlVi 800 87*4 100 61% 16 109 9,100 99V* 100 :<47* 130 6*4' 600| 7 ! 800 7 ; 200' 91 100 7"> ' 800 88 Vi 200 11 ITTi Vf Int. Niekel .1. wel Tea K.. 4 Kelly Springileld... 6 Kennecott . Laekawanna Steel.. 2 ! ? ? . 5 Lehigh \ alley. 7 1 7 I 1 N'ash . . . rl ? ?ri m Motor. ? '? ? :? lsl pr. .1 2 M..% D?pt. Storoa. 7 May Dept, Stores pr... Mexiean Petrolaum.... 6 Miami Coa i'opper.... r | Bl Loala ctfa.j - ? Miaeeorl PaeiBc. Miaaoari Paciftc ctfa... 4 Montana Power.j Btional Cloak * Suit.; 4 National I^-a'i.' . . Coa. 1 "pper... . m Vork Air Hrake.., 5 Nr-A- Yorl ? tral. ! ', . 1 | St. I, \ n 11. * 11.; ? i w. 7 Norl. * Weal . 7 .\<" ? ? n lv.' Ifle.j Paeiflc Mail.J 3 |Pi nia R. R..... ? Iphia Co.' Pittaburgh Coal.! Pitt iburgh Ci Pre ' d Steel ''ar. I ar. .. 2 Ray < on. Copper.[ ?1 R< ading ex div.' ? I Steel. ?? - .' Seahoard Air Lini 7 Si ar- Roehnck. : * I.. . rn Railway. Southei pr.. > hai "Jbj 9. 126Vi 127 ?? Copper. 12,600 26 0., full paid...i 100 193 193 . iny. 1,100 192 Third Avenae K R. I '- ?5?i Bag I Paper.... 100 8 fl lv He . 9.1"" H7Vi 137V* 136H 1 : e pr.' 100 B2Vi - . Vi riaar of Am.... I ?9 99 97*4 r . . . 1,600 167 167 166 l ? Investment.' 300 10 I0V4 10 10*4 r s. 1 ;? l v 100 20 \ ihol. 22, 1 ? V 90*41 '.>2 6 20 6 4 - 4 7 - 200 126 128 128 1 900 103H 1":'.'. 102Ti 100 33V4 :::t'. 200 60*4 <'"'?? ''''' l'iio 26 ' 28 900|1264fl " 111*4 lll*i H":- 111 Vi 111 200 2,000 100 100 100 800 400 7.300 2,1. 600 62*i 91 16*4 IT 128 121 88 :<ri 60 H ? I 28 ?4 127 i?'.m 162 II' ? ! 1 ? ' Vi I.-.', 194 l 193*4 194 61 . 121 >4 - 128 - 22Vi 23 Vi 1*4 21 193 199 T * 191 Vi 194*4 ? 2*4 194 ? 1 i 1 - 64V, r, 6 - Vi K'''.:7 i 194 Vi 91 137V4 i: ibher . Iat pr.. Smclting . Steel . Steel pr. 1 oi i er. i . k c. r. s. - 7 r s. ? v ?. . or A. Wabaah pr M. \V. ?'.. rn Marj 111 r*i. Mfg.. - iVe rorth . lys-Overland ... 7 WiliyB-Overland pr 700 63 150 lOSH 108*4 ? . 119 20 1 0 800 1 600 400 8,901 ' . . 68 86 Vi 118 76 48*4 ? 166 10 20 108*4 ?6 43*4 13 ? . 166 Vi 1., 118 '. Vi . 1*4 21 l . ? '. ?. 10 ;. 19 Vi *4 62*4 ' fl:'-. - 117". 136*4 1 '??"? : ? l 100 105*41 1 iconsin Central.. 1.200 61 \ 62Vi 61 ?. . ? 42 13*4 4 21 ? 1 ?'?. 66*4 ? S0*4 ?, 106 Vi 51*4 10*4 109 68 - 118 76*4 14 ' 4 60 , 21 - 94 198 60% MONEY AND EXCHANGE. . !? IMSi'ilNT BATT r<? pa^r ? dan or Ina. .*. per ? i ta* U MOBBI a***aerl at r'j per r#ct. hifh-at. . ? ? ??-,wa. Ill ,14117 4|,MV ??- Ball na-ra 3V<'*4 r?r | ,l4>?. ? ...-- ? fur ?n . Ml li, \N7 ir.l PAPBB waa ftrm.r III! r -???? . ... beal a,.araa n ? I : | A rOMfl ll"' -1" THANS4,TIO\4 1 , ... Bl 11 ,. , - ? ,.Y N,i. V ' ? - aad lali ?. > 4 l MO BAL Bl -r'-.vi: DIIK > . ? 1 . .? ' .??!?. I..4 I . ? I-- I a.la I . . : ? . .- - I; M Loala, ? 'ayv 4 par ,-aot; *'?: Kanaaa <'!?? 4S. ? Iaa !.). 3 t?r -. rtltj daya. i. alily > DOM1 L*IOB?*aa rrar-laro, Ul ? ? - : ' . .-?'.. LKABIBni Ba. aaMaaMM ! . . i - "I rV..trw ?? . ,, }. . .|- . I . 4 ,. . ..-.,. ?? ! i . . i ,| ... ?.-??: ? lilT "--w \ ? tal . . -, . aaa at ?> . U-.... <,- *.atu*i, U U ivj, a rlrerraae ?'. I IM M>-i1, aa al'.Tfr n-:,r? 4 ?> . POBXB7B 114' BAXOE BlaTrBafl *?? Brra 0 hat ra-, - i. - ltt| i- ? a I. ' ? , - 4 ? , 1-r- .1 4.1! I . , - ? . ItaJy?Cahli i , i , - i. -1 i s ? . . 1.21*4 ?.-?-< a- ?. . Hit| ind ? :???'? aiikcra'l, atit] <la.a. 171V DinrtJ layl < . Bank of Germany Retum. I , rta Laivltnl, . - - ? - 14.10*. ? ? i ???-' u.aria. lotal aj-.t 1 DIMDKMiS DKCLARFD. Bw -? Tenn P.atw PayaM- ? ? Am WBs I Lpi If. 18 J g 14.% Am lu*. 1 j A ? t-w ir a ati pr q . . . i j . pr "J IV - ?- ' Aui IS ? ? > - .. 11 " - 4 . '.-?.:? ? ' . . ? Hllls Q -?' .\ i| 1 J . Ifl : r . 1*4 : A l| 1 J ? ? .- . ." I .?- H " lliv*ra*:? \\ u j,r. y 14, . A .? ~ CURB MARKET TRANSACTIONS Curb stotks Develop Irregultf Trcnd, wllli Kulinf! Ton dency Downward. An Irregular trend ln prlre. move ?anl 4vnr4 elteaaaed throefhoot ra* trr.ii.v'n eeeaiea on the Breed Street rarb, and while ? few ateeka made sllght Impravaaaeet, 'he Hat gaaeraily aahlhitad a weak appearaaee. Deel? laga were on a diminiahed aeelei arith extreme dulnoss in tho afternoon period. l'nited and Whito MatOH Bad Midvele Bteel ell a?a>d arith free tional loKr.es. ChOVrolet Motor lost 6 point i BBd Kelsey Wheel common made another dccline of I points. Mla laarl Paeiftc, when lasaed, ended a paial dowe. tCtaa Bipleahrea aiovad up li fraction Farther presaore was exerted on tne i i i.1,,1 other tael - ln the mi icellaneoas <"l greap teaded down? ward Tradlag in the. Standard Oile ...: qaiet b ? on rei ? daya and priee ehange i were anii Prieaa ln Bome of the more activa mining ateeka held fairly al Bonda were rather activa nnd Irregu lar. Marine I'l -1.1 hifrher. IM)l STKIAIS. INACTIVE YESTERDAY INDO ITRIAUI Bld.it I. Aak. ? II ?I.vrn Prmn 5 ; - of Am " I |.4 * i M ?!' Ell drani M C i n I'Saion M <' n . ? Mot.. 5*4 ' l ?int v Prof 7, l . ' - ? - - IK .< ? .-4 ? ? ?. . ? a '; i ? MININU. p.... 1*4 1*1 . Is w 1 H 71 ?t'alial i ? ? ? l H thtr*. -*-. PHII.ADFI.PIIIA Si'itl hS. < I ea. Hlrh. 1 OW. I.asf. nOAm Oaa . ... ? j aj Will ?' . . ? a ? ?? k 18% ? li , (\ 1 10 1 | ? ? 11 41 41 41 O M r> 4 ,48 11'. ' j . NTD9 ' I ? ? ....... . |07 j ' -?>-?-_ Syndicate Buys 0:1 Stocks Montgomerjr, Cloth iei .'. Tjrler, ef N.-w Y. 114. md E kins, M n rl at < <.., of Philadelph.a. bavi eommon and fl,000,.> pn of thr Cl k Company. Thi ? aaa 1128 a ahare, a traasaetloa lavolvea practically the ea. tire oatatanding il eapltaliiation 90 ?f eommon aml Jl.! ferred -tork. Tha Crew Levickl ompany rgaaiaed In 1880, and i predaclag, reflaing ar.d diatribntingI prepartiea la Peansylvaaia, Ohia, Okla-I homa ar.d other tutci. I BRITAIN LENDING ALLIES BIG SUMS They (iet ?1.500,000 Daily ?Australia's Needs Large. BLACKLIST RULINO MAY BL MODIFIED LOBdoa Press BcginninK to Comment Upon United States Protests. By FKW IS W. HH'ST. [Bf . .' ,? tfl 'll'" tl London, July 25.- Perhape the most axtraordinary phonomenon ln I'arlian.-ent Lfl tlie alisence of COflipe t.-nt fmaneial criticism, Blttottgfa there aro a down biffhly oapable business memlnrs. Thc ease, how i-vi-r, BCema worse than it is, because the majority of the mambarm4 ?|.ehea, however good, go system atically unreported In the London daily preaa. "Jnfortunately, much tn.?** rjmad on arorthlese about military tatctica l>y amati'iirs, like thal of Chorchill last night on the debate on tho war cradit. Tho tA6O,0O0fiO0 eiedit is the larprest yet asked for, hut it struck a sna*r, as tho House of Com mons was on tiptoe for the Irish scnaation. The chief feature of Asquith's financial stat-ment is reassuring, as ha Bxpecta the new credit to last till tho end of Octot.or, whieh means ?6,000,000 exfjetlditur* daily. Another iiifere.-rini* fact uncov en <l by tho Prenrder is that nearly 11,600,000 .iaily is being borr by the Allies and the colonies. Among the colonies Auavtralia tnkee the most, oaring to the labor demande arhieh Premiar Hughea must satisfy. Tha Nigerian four-year bonda now jrield six i*'r cent. Th.- stock marketa aro inactive. ia linle deaire and loss facility culata. The Iriah un6ettlement is a depre - ir, bat the Irish Kctiritiea are lirmly held by invest ors. The dollar exehanga reaenra is now very large, bul not ex< easive, aa ani to the Alliea urould other* irable exchange ties. SazanofTa retirement as I'remier eted here aa a victory for the autocracy an.i con ? i witii the move through Raa putin'a return to favor. The (ierrnan preaa profeaaedly regarda Sturmer aa a pacihat, and therefore welcomes the change. Our preaa ia bearinnlng to montion the Ameriean eonunenta on the trade blacklist Many shippers here have declared that this policy has iieen pressed too far and would not Iie BUrpri ed to hoar of subatan tial modil Another diplomatic prohlem, that of tho Dutch fishing rights, ia also engag ? tioo. The Dutch Aahing fleet has been selling herrinK to Germany and fishing in prohibited n*eas; hence the Dutch fishing boata have been taken into our prixe courts. ??..?ct.- have appeared here I haa no ii rj the Foreign Ot*fic* announce ment. Tlie real free traders here bi* . with the composition oi the trade inquiry committee, whieh ia intended to prepare the ground for an imperial ftscal conference, as indicatad bj Bonar Law'a letter tu rhe colonial governaaenta, i oa LonoV 1. are risin0;. -ay that thoy expeet s ahortage next vrinter ii the war contin i NEW YORK (ITV BONDS. i ? ? ????. . . ? ???. ? .. ????. 4 . ? .... . 4 I 4 ? 4 . . . ? ? tPlaln r- 4 . : BUILROAD EQI ii MENT BONDlL llieetad ou o on .iii.a* .. , > turtty ? i ! ,.. 11|.. , , , | , ? . - i I i i I i ? . ? ? i l . 171 4.41 , > 4 ? PITT8B1 RGB BTOCK8. Sale.. Open. Hirrh. Lotr. Laal. -. ? . ...... .3 3 3 ' . ?-. l.l . 11444 l.l1-. 10 II . I 1 1 4 . lo 1. ? I] ? I ii* fl/aalaaae A.r ? . , . 1 1*864 16*8) Executor _ , 1000 Tru*tee Chartercd 1822 The Farmers' Loan and Trust Company Nos, 16,18, 20 & 22 William Street Branch Office, 475 Fifth Avenue New York LONDON, 15 Cockapur H, 8. W., 26 Old Broad 8t? E. 0. PARIS, 41 Boulevard Hauaamaan. BEBJJN, 56 Unter den Linden, N. W, 7 Travelers' Letters of Credit. Foreign Excbange. Administrator Guardian ON THE CONSOLIDATED. TraaJing interest on the Conaol tred particularly upon United Statea Btael common 11 ?Aa nataral oa the eva of tho dira I i ? ? ot Ihe i an ? ? '' . ri.,t un extra dividend wooltl he rad were eotaflrmed atfar the eleeo ,,f baeineaa. At tbe aaaae time tne BtOCk softened early. After OpaBlBg at B6fc, V* point above its cloaing ton on Monday, it ran off tO W ?? There was a rally in the early after? noon, which carne.l it to 9*3Vk, but it r ,.-.? ! ;il -:.V As fl WholO, the r; unded to aympathlae with the aaove< ment of Btael. STOCKS. ?ite i \ ., i . ?? . I Allla-i , . - Im Hi -....- ? ? , 140 J ? im Car 4 I ? ' ? Aa II A la Pf im Ira 8*cui -? . i ? ? im laoeoa ' ?. ' 4 . 4 ? T-. a. U\ . . i < im zii ?' I ? ? . 1.040 A . ..':;??-.. .,-... lil Iwln U-co... Tl .1 Bal4 * Ohio ? "' | Ita Buta* * Bof WJt '? ,"' i ?. , ? ?a . a o ia c u h at v .. . g* eyt* . !i 44', 4 -. A I 4 4 lt 44, ' ! ; . ; , ; . , 4 4 ? ' x| r Mar ;.'. I ? 1 ??. I, ' ' 4 . 4... X ,44 ln I ' ' I* ' ? '. ? ? I., ? . 1 ' : - : ! ? ? ||0? MINING. i . ? i ? - ? INACTIVE STOCKS. The fol'.owing table givea the eloaing bid aad aahed prieea for atoeka ?.c tra liBted bat waieh were not deelt ie on the Stock Kxchange Tui i ii Aa IOH I. w B '...:-. . ' * - ? . . M K *. t I 4 . | ? ? nt ?< s.l x \ I - 111 4 i . pf.. . risATri'lM 1 u . - i '. . . . ? . I ?, < . , I ' ' ? I * ? . x ' - . ? ' ' - ? I .' 81 i H it ll*'? 1: ? - - A 4 ? ? ' 111 1 | pf 44 4 ' I ? , ?. I'. ' ' 1 * W '; . i\ ' <; u ? . . , r l l I. ! :' .. , " i m i ? : 4 -, R a Intp - I ? I: kl . . , Mllliel. 1 il ', I I - I li ? \ l pf 117 120 I - 4 .'?'? , 4 .... ' I. |r.' 4', . . ' l lyir RrA F 188 M K> I ! M.l pf... 44 4? K 4 i - . ' ? ' W '.?.?.-' ? DI I IWer n u Bl 1 i prvf tl I 114 I " K r K L ,% I ... mi a i. y. x X tt I l 4 , .' 2 [. a II 1 I ia ? ? ' ...,'? \ I.-w li. ? : . ? ?. ? : ' 9 '? i ? -? CENTRAX LEATHER GAINS More Than 11 I'er Cent Earned on Caaaaaaa Btach in Six Months. laeoma ef the l aatral Leather Caaa* bath far the quarter aad aia lad Jaae 90, 1916, i ???ry compariaon with th>- eorresponding perieda in 191*}. JTatal o; arating iocome far I ? ended arith Jun.- ame i 161, aa compared arith ?-,." i >ad aet iaeoa ? ganeral < apenaea, etc . and charga * 1,164,019. nn ii , of $1,939,190 Dividenda for the q i ir? ter ??;. the pr. ferred ka - - 2, an.: on the eommon $794 lai t year no dividenda are on the eommon stock. Barplaa ava la ble waa $1,787466, agalaat $642,091 ia Vet the six months ende 1 .lun. 30 ncome amounted to $8,1 ' "??? ? ?'.?;-? batf'of not ineome araa iacreaaed from $2,191^76 to $6,716,166, aad the r.ur ifter preferred stock dividenda - i $4^42,701, equal to ii u par cent on the $39,701,061 of eoauaon atock for the six months, against 2.5a per cent a year atro. ,*..x**i-?:**:*<"W**x**X"H"X-:*<?47>i{aij^ 1 Jhn/a/nin J ran/Jin say: \ 2 ''Di'.grnct ii the mtthtr :f^ A luck. _ ? /-?pHOUGHl FUL a X J. 1'eraort] # and more hivoru ? the ?>' f r-oin'ment of a Tr. X hxfiut.r an i Trustet of tkerj] A , ... Eatastea. 4, f With mcrc than ? - >| ?? rean c ?"" aet in maaa - ?4 !? Eatatea the Froaklin Trt t f ia cipecially facd to ; V tseka I .*! ,",. rMBM * "4. I Franklin 7rW Company | * fVf.c t'cri Of'et t\n Wl ??? 0 ?".?*.- 166 Mon- irul ..- 1 jPfcvj 5*9 F. - St , BV,- ? :**:*^:~x**x**w**x-x~X'?*,-><???r> I" -.:?!' -.-.? ? " ? -... s| (II K> \m? IIOM.4.. By Aiutl in H. mi 1 1 ;: 1: I aga OFF1 NO U l.ilM ND ll*. Jl'l.l I I! I -II, ? ' - I.X'II 4.NG NOS ' ? ? '- Trta ' Litli Vnr \ ? ? ' r - 1 ? ?? ? I ? itea Title Gua- u -y 4 !:. 50 iha. i G000 TONE IN LONDON TRAM! Oltt-Edged Securities and Hoffi ' Rails Inprovc Ameriean Stocks Decline. Landon, July 25. A I riak dfoit'. i for Treasury bills reduccl n.iMfii; plies an.i har.le- ? I ratta U> da**. The s-tock mai i.'ood tont- on Prcraier ment thnt thfl ? sl . larre tci '" t'.rrat I 1 ions. < l-....m>- ra . land - .... n aeeuril . r ecnt I count ? "? ns dafa thfl H .'? r ?* . | . BBJ 76 eaat a I.dMhiN i l.n-IM. I'KK ES. U I 7- V ? ? 4 ? 104M , *' 4 ? - . - > 1 - ? I5RIEF WALL STREET JTEw7* Thc Gaarai ' *)'' rpir4* exchann '?', '?'? ? *"rai ' I ? . dac AnajBat i. r*r*d*riek J. Pallcr, formerly aad* : rday araa ? prcaideat. The I ' Bal Nickel ^omg 'e*S ' \i< ' income after a '? "*. t-ra| expi ? ? ' . "?'?,.' araa $".' .TJg on th. ? ?* JL thc am .,n haad I il" ! Then- I.i- D l I**** w. v. ? I purchassijl ' ,jT<* ""irl 14.200. 1 bfl ? ?,-':4- wtl 11.'..-'.-. " 01 * ' ?fl**' 16,000,0 r**r lavertiblfl b**?" J. C. Traphag-en, an aifllataBJ ?*? . tnry of th,- Franklin Truat > ''""jV, i haa been eleeted i truitee of ,'"*A^ cuu Savaijrs Haiik oi N*W Vork.