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SECURITIES OFFERED AND WANTED Godchanx Sugar Com. & Pfd. Central Aguirre Sugar Santa Cecifia New Detroit Edison - Kentucky See. Corp. Pfd. Clinchfield Coal Manhattan Elec. Supply Timken Det. Axle Pfd. Goodyear 7 % Pfd. Packard Motor Com. & Pfd. Dnpont Chem. Pfd. Cleveland Automobile Bncyrns Com. & Pfd. Penn. Coal & Coke MortoM. LachenlirpclL & Ca 4,0, Bxtxad Striteb- ^emfTdMs+j iaachoo detroit puiiadelvhia pittseuroh 1 Texas Pacific Coal & OH Eastern Steel Central Aguirre Sugar Humble Oil Indian Refining Aetna Explosives 6s CC.Kerr&Co. | 2 WaD St, N. T. Pkeae 6780 Recter ?MV/S//S/S/////'//S'/S/MS//SSSS///SSS//////WVM/. New York State Rys. Com., Pfd. & 4^8 J.K.Rice.Jr.&Co. Phones 4000 to 4010 Joki. 36 Wall St, N. Y. Mark A. Xoble Tbeodore C. Corwla NOBLE & CORWIN 25 Broad St. New Terk Equitable Trust Safety Car H.&L. Chase Nat. BankB'klyn City Ry. Telephone 1111 Broad Woodward Iron Common Merrill, Lynch & Co. Trading Department 120 Broadway, New York Phone* Rector 7683-7692 Incl. L W. Biiaa National Sugar Safety Car Ht & Lt Santa Cecilia Sugar R. J. Reyoolds Tob. Columbia Trast Stone,Prosser & Doty 52 William St. Hanover 7733 > Commodities Continued from preeeding pass TJverpool cable*?Spot cotton ln moder pf? d?mand at 47 points' advance on the basis of 28.S4d for middllng; sales, 6,000 bales, American, 4,000 bales; imports, 8,00ft bales. none Americarr. Futures opened <iuiet, I to H points higher. Closed steady ?t a net advance of 19 to 41 points. March, *6.84d: May, 25.75d; July. 24.86d: October, _S3.05d; December, 2217d. Manehester? Yarns and cloths quiet Cereata Wheat?Export sale? of wheat reported on Wednesday appear to have filled the demand for the time belrrg, at least, and BO new business came to light. There was some inquiry from abroad, but sellerH were a little atlffer tn regard to prloe, and this seemed to dlscourage bualnesa. Some au? thorities eeemed to anticipate sales of wheat and rye to Oermany, and lt was said that loquiries were here from that country and that buyere, who a ahort time ago wanted to make pnrohases on haif cash arrd haif credit. were more wlUlng to do business on a cash basis. Reports from the West aald that new regulatlons had (one Into effeot regarding the movement ?f cars, and that hereafter cars unloaded at elevatora are not to be considered the property of the elevator for reloadtng of arrain or other commodities as they may ?ee fit, but the empty cars are the prop? erty of the railroad, and must be dis trlbuted for roloadlng according to the order of priority on the books of the com f>any. Some thought that this will mean a erger movement of wheat from the term inals to the seaboard for export. Corn?The market was active yesterday and price changes were feverlsh over a range of about S cents per bushei. There waa renewed active buying earlv In the ??sslon which aent prics to new hlgrh records for the movement. Late ln tne day however. longs sold heavily and the market broke very rapidly and. with the TiFIvi JJ of tn* M?T,'h POHltion. which was *^*c_J',*R?r' Prloes wert fe to l?4c net low Mn22?.i"*Uln8 aDPe*r?d ?> he baaed on the SveTb^E. that Jha market waa ln an aU? e33?\ 5S"?u,Sn. ?though it waa M t?2?" oh* <?*Mry waa more New Tork: ?W *?&*?' *j? ^ThtSgo^1^*1"* ?l" *174H ?:?:::::::::::??? Jfflk ft% .?vi!l*^rS, tT&a*ZttLUefBy& ^outaide taiMiM on eawStartW^BoS fboytM prompten by continued light ~ ?ceipte and flrm caah markets. Lateln m,. day heavy eelling developed on a rume/that Conareaa had been asked to remorV th. import duty on Canadian oate. Thia rumer waa entlrely lacklng of connrmatton but prices nevertheless decllned 2 cents from *??? t?P and closed easy with net losses of % to i?o. Testerdays Previeua y?ar NbwYbrk: close cloae ago No. 3 whlte.$l.07OI1.0I |1.06?81.0? 10.76s Chicago: Ma'. .87fe .874; .65V Jt?>y . 1*% .n\ ?4H Rye?Market easy. _ _ Yeeterday's. Previous Taar NawTork: cloae close ago N'o. S West.. 11.93* H.l)4fc $180 Floor and Meal?Quotations were: _ _ , Taaterday'a Previous Tea* __?w*w Tork: close cloae ago Minn. patent m.76 US.liH 111.66 Cemmeal . 4.00<?4.10 4.00?4.10 3.60(98.86 Rye flour . .9.00@9.40 ?.00$9.40 8.J6?8.50 ?ran . 63.00 63.00 48.00 Cottonaeed Otl The market *u atrong and higher early tn the day, with a moderately active de? mand from the commission houses, due to the strength In hog products and the early i^lll, in .*T*ln; The ?**? r?otion in i the grain list. however, seemed to In day the market was reapttonary. closing irremlar, with prices r*a?in? from 30 I Miscellaneous Markets Pqbllc Utllity Securltlea Bid Amer Ltght ?? Traction oom.. 187 fto pf. 89 Asked 193 ?* 14 79 ?127 40 63 72 11 26 4 7 .17 891 ?71 Adlrondack Eleo Power com.. 11 do pf .(. TR Amer CJas & Rlecrlc com_ 128 ?do Pt.4..,- 38 Amer Power & LIgnt com.... 69 ? do nfd . 87 Amer Publto Utilities oom_ 7 Ap vt. ? American Waterworks'Kloc... 8 Am W W & B partlelpattng pf 8 American WW A K la> pf.. 47 Carollna Power & Light oom. . 34 Citlea Service com. 886 do pf. 70 do bankers* certificates_ 39% ?41 do 7 p c. series B, 1966_ 164 ? do 7 p o, series C, 1966. 100 ? 103 Colorado Power com. 14 13 ?o pfd. .. .,. 90 96 Commonwealth Pr. Ry & L com 17 20 <lo pfd . 87 48 Tlenver Gns * Blec gen 6s_ 87 93 glectrlc Bond ft Share pfd ... 16 ?? Hmplre District Hlectrfc pfd. 65 61 FwJeral Light A Traction com. f. 7 do pfd . 42 47 Gas A Blectrlc Securities com 800 406 .do pfd . 10 |6 Northern Ohio Electric com. ? 26 do pfd ..?. ? II Northern Ontarto LAP com 10 14 <lo Pfd. 60 65 Northern States Power com.. 60 65 'lo pfd. 85 88 Pacific Gas * E'ectric nfd.... 83 85 Republic Ry A Light Co com. 17 18 do pfd . 50 ? Southern Calif Edlson com... 86 do pfd. , 99 Standard Oaa A Electric com. 18 do pf . 3g Tennessee Rv, I, A P com.... 1 do vt ?:. ? United Light A. Rys com. 24 do ls(. pfd . 63 Western Power com...'...'.{."! 17 do pfd. 67 Bonda Appalach Power 1st 6s. (< Cincinnati Gas' & Eleo 'e, '56 Coi Gas A Elec 6s, '27... Coi Power. '63. Dallas Elec 6s, '22. East Texas Elec 6s, '42. do 7s. '21. El Paso Elec coi 5s. Great West Power 5s, '4 Midwest Util 5s, '25. .. ,.? Miss River Power 1st 6s. 74 North Ont Light & Power 6s.. 84 North States Power 6a, '26...; 84 ?Ex dividend. 80 79 75 99% 76 99 79 79 85 88 lOS 20 40 3 9 37 66 19 70 68 87 81 80 82 100 83 81 90 76 69 38 Sugar Stocks - Bid. Aaked. Bjd. Asked. iCard-Am.. 18 22 ,Mat-Am pf 70 76 j do pref. 70 80 Michigan.. 11 y, 12% I C Aguirre. 88 90 National .163 166 ' | lajardo ..142 145 Ni Niqueo.20n ! Gt West..4H(J 520 S Cec new 13 14 ' ? do pref.IKi 117 , do pref. 75 82 Guanta'mo. 76 TS ISavonnah. | Mat-Am ..10 15 I do p**' Am Cyan do pref. D.i By-Prod .. 98 ; Cassin Co. 4T> Dow Ch.. .230 Du P C p. 9 Fed Chem. 100 do pref. ? Graselli ..155 do pref. 99 Chemical Stocks 45 92 48 90 Con Foi)..250 G W Hms.160 do pref. 98 J S Young.130 do pref. 95 MacA & F.155 P R-A T.132 10 105 99 175 100 Tobaeco Stocks Hd*k Elec. 65 do pref. 65 Ky Solvay. 80 ?Mec Co p 91 Merrimac.. 83c Mulford Co 53 Ni6g Alk p 95 Semet C. . 175 Solv Poe. .180 325 170 102 13S 100 165 140 R J Rey A.525 do ser B.435 do pref. 106 Weym-B ..162 do pref. 97 Univ Leaf.140 70 70 110 96 56 100 E50 460 108 169 102 _ ... . Bid. Aaked. Creacent Pipe Llne Co. 32 34 Cumberland Plpe Llne Co. 146 165 The Eureka Plpe Llne Co_ 139 I4t Galena Slg Oil Co, pref-new 94 98 do pf old -,. 100 105 do common. 64 67 Illinois Pipe Llne Co,... 177 183 Indtana'. Pipe Llne Co. 97 100 Inti<rn<vtlonal Pet. Ltd... 44 45 National Translt Co. 29 81 Now Tork Translt Co. 185 190 Northern Plpe I.ine Co. 101 105 The Ohio OilT Co..... 375 385 Penn Mex Fuel Co. 67 60 Prairte OU fi- Gns Co. 703 716 Priilrla Plpe Llne Co. 260 270 The Solar Refining Co. 410 426 Southern Plpe Llne Co. 148 153 South Penn 011 Co.._,. 835 345 Southwest Penna Plpe Lines.. 86 00 Standard Oil Co of California. 354 358 Standard OU Co of Indiana... 865 880 Standard OU Co of Kansas. ... 640 666 Standard OU Co of Kentucky. 445 465 Standard OU Co of Nebraska. 630 660 Standard OU Co pf New Jersey. 857 863 do pf . X13 114 Standard OU Co of New Tork. 475 480 Standard OU Co of Ohio_ 615 530 do pf . jog uj Swan & Flnch Co. 96 100 Union Tank Car Co. 124 128 ?d0 Pfd. 100 10? Vaeuum Oil Co. 445 450 Washington OU Co. 37 42 Miscellaneous Oil Companies Atlantic Lobos OU Co., com! . 60 66 do pf. 115 no Cosden A Co. 9 9% do new. 44% 45 % Elk Basln Petroleum Co_. 10% 10% Houston OU Co com. 117 120 Imperial OU, Ltd. 120 126 Magnolia Petroleum Co. 440 460 Merritt OU Corp. 20 >& 21 Mld>vest Reflnlng Co. 171 176 Northwest OU Co. 40 60 Producers A Refln Corp com.. 9 9% Sapulpa Reflnlng Co.. 61; 54 New York City Bonds Securlty, rate. maturity Bid. Ask Tield Inter 4%s, 1967. 96 n6% 4.68 do 4%s, 1965. 96 ' 96% 4.68 do 4 4s, 1963. 96 964 4.68 do 4%s, 1967. 96 96% 4.69 do 4%s, 1966. 90'- "1 471 do ?Ua, 1964. JOH 91 4.71 do 4%s, 1962-'. 90V4 91 4 71 do 4%s, 1960. 90% 91 4.7? do 4%a, 1960 op 1930.. 904 91 4 72 do *s' "6?. ?6% 87% 4.70 do 4s, 1968. 86% 87% 4.71 do 4s, 1957. 86% 87% 4.71 Reg 4s, 1956-1950. 86% 87 4 75 do 4s, 1936. 90. 92% 4.61 Inter 3%s, 1964. 77% 80 4 66 Coupon 3%s. 1964. 77% 80 4 66 Reg 34s, 1950-1964 inc. 4.SB 4.75 ? do 3%s, 1940-1950 inc 4;86 4.75 ? Reg and coup (serlal) 4 >?..,, 1919-1930 in. 5.00 4.60 ? Reg and coup (serlal) 4>-.s, 1919-1931 ino. ., 5.00 4.60 ? Reg and coup (serial) 4%s, 1919-1932 inc . 5.00 4.60 ? New York State Bonds Issued in coupon and registered form not tnterchangieable. Coupon bonds regts terable. Securlty, rate, maturity Bid Ask Tield lanal Imp 4%s. 1964.103% 105 4.25 Hlghway Imp 4%s, 1963.103% 105 4.25 Securlty. rate. maturity Bid Aak Tield Canal Imp 4%s, 1066_ 99 100% 4.14 Hlghway IrftP *fcs, 1965.. 90 100% 4,24 Barge Can Ter 4%a, 1846 98 100% 4.24 Hlghway Imp 4a, 1967_ 96 87 4.16 Canal Imp 4s. 1967. 95 97 4.16 Hlghway Imp 4a, 1960 1982 Ino .T. 95 97 4.15 Hlghway Imp 4s, 1958_ 96 97 4.16 Canal Im.? 4a, 1980-1962 Inc. 95 97 4.15 Barge Canal Term 4s, 1942 and 1946. 95 ? ? Canal and Hlghway 3s, 1966-1959 . on application. Federal Farm Loan Bonds li'pcWal Farm Loan 6s, May, 1938. op 1923_99% 100% 4.99 Fednral Kiirm Loan, 4%s, May, 1989, op 1924. 96% 87% 4.71 Federal Farm Loan, 4%s, Nov., 1938, op 1923. 96% 97% 4.71 Federal Farm Land 4%s, 1937 . 96% 97% 4.71 Joint Stock Land Bank 6a, May, 1939, op 1924_. 97 98% 6.12 Joint Stock Land Har.k 6s, Nov., 1938, op 1923_ 96% 99% 6.13 Short Term Securities Securlty. Rate. Due. Bid. Ask. Tield. Am Cotton OU Bs, 1824... 96 96% 7.00 Am Tel A Tel 6?. 1922... 94% 95 Vi 8.15 do 63, 1924. 93 *i 94 V* 7.80 Am Thread 0s, 1928. 99 100% 5.85 Am Tobaeco 7s, 1920_100% 100% 6.90 do 7s. 1921.100% 101% (i.10 do 7s, 1922.100% 101% 6.46 do "7s, 1923.100% 101% 6.60 Anaconda Cop ,6s, 1929... 94% 95% 6.66 Armour & Co con 6s 1920 1924 . 99% 101 - Beth Steel Corp 7?, 1922.. 99% 100 7.00 do 7s. 1923.. 99% 100 7.00 Can Pac Rv fis, 1924. 93% 94 7.70 Cent Ariren Ry 6s. 1927.. R2% 84% . C, B A Q (Joint) 4s, 1921 94% 95 7.70 C. C. C A St L 6s, 1929.. 87% 88 Vi 7.80 C-Am Sug Ist lien 6a, 1921 99% 100% 6.66 Cudahy Packlng 7s. 1923 99?. 1004 6.85 Del A Hudson R R 6s. 1920. 994 99% 6.90 Federal Sug Ref 6s, 1924 95 96% 6.90 General Electric 6s, 1920 99% 100% 5.60 Great Northern 5s. 1920. 98% 98% 7.15 Gulf OU Corp 6s, 1921... 964 9R% 7.00 do 6s, 1922. 96% 98% 6.65 do 6s, 1923. ... 96% 98% 6.50 Hocking Valley 6s, 1924.. 92 95 7.45 Inter R T conV7s. 1921.. 71 74 - Jacob Dold Pack 7s. 1920 99% 100% 6.40 do 7s. 1921. 99% 100% 6.70 do 7s. 1922. 99 100 7.00 do 7s, 1923. 99 100 7.00 Kan City Ter Ry 6s, 1923 97 98 6.?0 Kenn Cop Corp 7s, 1930.. 96 97 7.40 L Gas L 1st A ref 7s, 1929 95% 96% 7.55 Liggett A M Tob 6s, 1921 9S 98% 6.85 Mollne Plow 7s, 1920. 99% 101 6.95 Clo 7s, 1921. U9 101 ?.20 do 7s, 1922. 99 101 6.45 ilo 7s, 1923. 99 101 6.55 do 7s. 1924. 99 101 6.60 N Y Central 6s, 1920. 99 99% 6.95 Philadelphia Co 6?, 1922 94% 95% 8.80 Pennsylvania Co 4%s, "21 96% 97% Proc & Ganible 7s, 1921.. 100 100% do 7s, 1922.100% .101 % fi.i'5 do 7s. 1923.1004 101% 6.40 Pub S C N .1 conv 7k, 192:: KS% 87% 14.40 R J Rcynolds Tob 6s, 1922 98 98% 6.70 Southern Railway 6s, 1922 93% 94% 8.15 St P U D guar 6%s, 1923 96 97% 6.30 Swift A Co 6s, 1921. 98% 99 6.60 The Texaa Co 7s, 1923_ 99 99% 7.25 Thc W I Sug F C 7s, 1926 94 98 7.30 Utuh See Corp fis. 1922... 85 87 12.15 Steel and Ordnance Stocks Am Brass.2l.r> AUas Pw.155 do pref. 85 Bab A W.118 Bliss, E W.400 Can F&F.195 Carb Stl. . 90 do 1 pf.100 do 2d pf 70 Colts A.. . 54 D P Pow.305 20 165 89 120 450 205 100 110 75 320 East Steel. 37 Emp S & I 25 do pref. 70 ?Here P..210 ?do pref. 100 Niles B-P.110 do pref. 98 Scov Mfg.430 Thom Iron 30 Win Cor. .400 Wood ward. 44 ?Ex dividend. Miscellaneous Stoclta Nat Cash. 120 Lima L pf 90 N J Z wst.294 N Co 1 pf.100 O'Neili pf. 98 Phelps D.2:S<> Phil J Cor 56 do pref. S7 P & W pf 95 R Reis & Co 15 ?do pref ?[', Ry Bak P.130 do pref. 85 Singer Mg.153 S L 1M&S 43 Stoll S pf.100 S D F pf.100 Stern B p.104 T&PC&On.l07 Valvol pf.100 V Raaltln. 40 do pref. 80 W & B pf.100 Yale & T.265 98 ?Ex dividend. New York Bank Stocks 220 105 113 101 450 130 95 298 103 99% 250 60 90 17 157 47 105 103 107 110 104 45 .250 .400 .340 .490 .230 .200 America ...590 610 Clarfield N..230 Atlantic ...215 ?Gotham _200 Am Kxch...295 305 Greenwlch .275 Battery ....205 215 Harriman ..360 Bowery ....420 ?Hanover ...810 Bryant P...150 160 Industrial ..205 Bway Cent.150 160 1m & Trad.550 Broi.x Nat. 150 160 *Irving Nat.SS Butch & D. 35 ?Liberty _400 Chase .440 Chat & P. .295 Chelsea Ex.125 Chemical .. .580 Ciu Nat...270 City .385 Coal A I. . . 245 Colonial .. .350 Commerce .230 ! Columbia ..175 i Corn Exch. .430 1 CoBmop'tan. 110 I Com'eial E. .415 I Com'wealth.221 Cuba .170 East River.. 1?0 Flfth Nat.. 160 Fifth Ave. .900 First Nat...930 Foreign T B. 80 Trust and Security Companies j Alliance ... 80 901 Lawyers T. .120 | tAm Trust. ? --iLincoln Tr. .175 ' Am Surety. 73 78 Manufac'ere.205 ! Bankers ...375 385 Mercantile .310 Bond A M.220 230|Metropol ...285 Bklyn T Co.500 r.tr. Mtge Bond.. 87 Cent Union.405 415iMutTof W.105 Columbia ..345 355 Nat Surety.200 Commercial 150 160 iN Y Title. 135 Empire Tr..30O . N York T..625 Equitable ..300 310 NY LI&T.725 FarmLAT.430 440iPeop!es _275 450 305 500 450 230 180 Liberty Lincoln .. . Manhat Co. Mech & M. Metrop'tan Mutual . . . Merchants . New Neth. . _ N Y N B A.460 Park .730 Pacific . .. .135 Producc Ex. ? Public .345 Seaboard .. .650 Second ... .440 State .210 ? 23d . Ward./ir-O 170lUn States. .lff, 850IUnion Ex.. .IVE 960W'chester A.?.00 90Yorkville ..375 Franklin Fulton .. Fidelity .. . Guaranty . Hamilton . Hudson T. Kings Co. 240 .250 .230 .372 .255 .155 640 2r.0IRealty Asso.lOri 260 Title C, & T.380 240ain StatesN830 378;U S M & T.405 Law Mtge .125 263 665 135 U S T Guar 80 Westcfiester. 130 W & BT&M.165 215 380 830 580 395 415 425 360 240 210 480 755 700 500 125 295 93 125 210 145 745 115 860 415 85 140 175 tSee New York Title and Mortgage. JIncludes American Trust Company stocUt. Insurance Companies Am AUiance.270 ROOGreat Am. .290 ? Hanover ... 30 325 Home .550 SONat Liberty. 180 G25 Niagsra ... 230 90Stuyveaant.. 50 300 560 City of N Y.175 | Oon'nwlth. .800 ?? Continentai. 7? 1 Fid A Phoe. - G25 Niagsra . . . 230 2?? ' Franklin .. 85 80Stuyveaant.. 50 75 | Glebe A R.800 ? ' Standard Oil Stocks Wrt. Asked. , Anglo-Amerlcan Oil Co, Ltd.. 26% 27% : The Atlantic Reflnlng Co.1640 1680 1 do Pf . 113 114 | nerne-Hcrymser Co . 435 460 1 Buckeye Plpe Line . 95 98 ; Chesebrough Mfg Co cons.... 2:'0 245 do Pf. 105 107 | Continentai OU Company. 625 650 Baltimore Sales. Open. High. Low. Last. 40 Atlantic Petrol 3% 3% 3"4 3% 200 Cent Teresa . . . 7 4 7'i 7% 7% 80 Cosden . 9 9 9 9 630 Olestirre .226 230 215 216 50 Citizens Bank. 43% 43% 4314 43% !>2 Con Power.... 99% 100U 99H 100'i 105 Con Coal. 82 % 82 Vi 82^ 82 li 3 5 Davlson . 374 37V4 37'<j 37 % 60 Blkhorn pf.... 41 41 41 41 85 Houston Oil pf. 87 87 86% 864 866 Indlahoma ... 8% 8% 8% 8% 12 Mt Vernon pf.. 89% 89?i 8H% 89&* 400 Monon Val Trc 9% 9% 9% 9% 109 Md Casualty.. 80 80 ' 80 80 35 Pa Wftter Pwr. 83% 84% 83% S4'i 42 U S Fid.125 125 125 125 Bonds $1000 Cosden 6s, A...94 94 94 94 7000 Con Pwr 4'f.s. 77% 78 77% 7S 3000 Unit Ry In-s 4s 42 43 42 43 15000 do 1st 4s.... 6O4 61 60 Va 61 Boaton Curb Bid AsU Bid Ask Ari/. Extn..ll 12 iMex Metals. 15 18 Ariz Silver. 1% 1 % Mid Moss...C0 70 Blk Hawk ..80 85 j.Moj Tungst. 7 14 Bohemia .. 1 !i l%|Monarch ...? 75 Bos & Mon. 72 74 'Nat L &? Z. 4 9 Calaveras?? l%lNev Doug.,16 20 Chief Cons. . 4% 4% New Baltic.. 3 4 Con Copper. 4% 4%'Ntxon .16 1ft Crown Rsv.30 40 'Onondaga. ..16 40 Crystal new.30 35 Orpheum ..31'4 31% Uenbigh ...30 33 Pilgrim ....14 17 Kaglc B B 2 1-16 2% Pioneer ...80c 1,00 Fortuna ... 3 9 Rngr Pctr .-? 25 Gadsdon ... 1% 1 U jRalnier .... 114 1'j Homa Oil..,10 12 Svn Motals.19 21 Uoughton ..50 65 S W Mi f p. 4 4% Iron Blos...30 40 jSilver Reef.12 18 Iron Cap...llVa 12 ViToxana ....25 28 Jerome Ver.38 45 C Verde Ex.38 39 La Rose ...4 0 4 6 'Yukon.1% 1% Majestic ...16 20 ' Boston Sale?. Open. High. Low. Last. 50 Anaconda .... 61% 61% 61% 61% 650 Arla Conil. 12% 12 Va 12 12 13160 Big Heart .... 9% 10 9% 10 60 Bingham . 6',, 6 % 6 Vi 6% 76 Cal & Arla.... 63 63>a 63 63% 6 Cal & Hecla. .347% 350 347',, 350 735 Carson . 22 22% 22 22% 29 Copper Range. 42% 42% 42% 42% llOI.'avIs Daly.... 10% 10% 104 10% I 5 Kast Butto .... 14 4 1 4 % 1 4 Vi 14 % 33 Island Creek.. 44% 46 44'i 45 30 Isle Royale... 32% 32% 32% 32% 360Kerr Lake... 4% 4 >.3 4 % 4 Vi 30 Lako Copper. .4 4 t 4 100 Ma3on Valley.. 2% 2% "'?, 24 280 Mayflower O C '.? 9 S % 8 4 166 New Cornelia.. 21 21 21 21 66 New River.... 25 25 24 7, 24 4 225 do pf . 84% 84% 84% 84% 30 Nipisslng . 10% 10% 10% 10% 3 35 North Butte... IS-Ti 1(1% 164 16 Vi 10 Osceola . 4S 48 48 4S 155 Seneca . 15 15 15 15 65 Shannon . 1% 1% 1% 1% 210 South Lake, . 30c 35c 25c 36c 20 Superior 1... 6% 6% 5% 5% 2o Sup A- l, : . 1 4% 4% 4% i*, mo Tuolumiif- .. 81'ic 85c Sf>e 85c t'J U S Smelt. . 70 7ii 69 69 60 do pf . 47 4 47% 46 4 46 4 100 Utah Apcx.... 2 4 2% 2 4 24 4 6 Utah Cons .. .. 8% 8% 8 4 8 4 Railroads 23 Boston Blev. . , 64% 64% 64% 64% 63 Boston AM... 35% 35 Vi 36 35 68 do pf A. 48 48 47 47 1 Boston Prov.,143 143 143 143 10 Mass Elec. ... 4 4 l 4 426 do pf.1014 1014 101 101% 42 N T, N H & H 35% 38 36 % 35% 5 Old Colony. ... 85 85 85 85 62 West End. 44 44 43 43% 22 do pf. 53 53 53 53 Miscellaneous 122 Am Agr Chem 93% 93'4 93 4 93% 1360 Am Oil. 7 7% 6% 7 44 Amoskeag _161 161% 160 161 14 do pf. 81% 81% 81% 81% lOAm Sug pf...U5 116 116 115 320 Atn Tel.100% 100% 100% 100% H Am Wool pf...l04 104 104 104 60 Anglo . 11 11 9 4 94 15 Bos Mex Pet.. 2% 2% 2% 2% 6 Booth . 12 12 12 12 375 Century . 3% 3% 3 3 100 East Bos Land 5% 5Vi 5% 5% 7 00 Eastern Mfg... 31?? 33 31% 33 660 Eastern S S... 23% 25% 23 25% 870 do |<f. 83 85 Va S>3 86 4 100 Edlson .166 156 166 156 280 Elder . 30% 30 4 30% 30% 50 Gorton . 26% 26 4 26% 264 220 Gray . 34 34 4 34 34 4 76 Int p Cement. 174 174 174 174 60 Int Cot Mills. 66 66 66 66 75 do pf. 93% 93% 92 92 11 80 Int Products.. 27 28 27 27% 350 Island Oil. ... 5 6% 5 5 160 Libby . 27% 27 Vi 27% 27% 15 Maas Gas. 71% 72 71% 72 2 do pf. 60 60 60 60 33 M'Elwain Ist pf 98 98 97% 9S II Mergenthaler..l33 133 133 133 240 Mex Inv. 44% 45 43 44 4 '.1Z Nat Leather.. 14 14 13% 13% 6 N E Tel. 88 88 88 88 2220 Ohio Body... 83% 34 33 33 485 Orpheum .... 30 304 SO 30% lOPullman .120 120 120 120 500 Root A Van... 48% 49 4S4 49 170 Swift .123 4 124% 123'- 123 \ 25 Stewart . 47% 47 4 47 4 47 4 SI 5 Swift Int. 45 % 46 45 4 46 Sales. 80 Slmms . 19 Open. High. Low. Laat 48 Torrington. 1 5 Unltod Drug 20 do 1st pf. . . 25 United Frult . .206 4 105 U Shoe Mach - 170 do pf. 4970 Ventura.. 5 35 Waldorf . 20% 10 Waltham .... 39 530 Wal worth .... 22 4 7 vVarren Bros.. 60 5 do 2(1 pf. . . . 70 1 030 Wickwire .... 28% 7 3 % .136 61 Vi 2 5 4 17 19 18% 76 73% 135 136 61% 51% 206% 205 46 25% 18% 20% 39 22 4 6 0 70 29 26% 17% 20% 3 9 22% 60 18% 76 135 51 Vi 205 46*i 36% 17 4 20 4 39 22% 60 28 % 29 Bonds fl 000 A G W 5s. 76 76 76 1000 Carson 7s. . . .1054 1054 106' 1000 Maas Gns 44s 90 90 90 90 3000 Miss River 6s. 744 744 74 74 6000 Swift 5s. 89% 89% 89% 89% Chicago Sales. Onen. High. Low. Laat. 75 Ani Tladiator. .330 340 330- 340 25 do new. 81% 81% 81% 2300 do rights. ... I % 2 1% 10 Ani Shlpbg pr 77 77 77 1600 Armour Leath. 16% 16% 16V 400 Armour pf.... 99 4 100 276 Brlscoe . 65 4 66% 600 Chl Pneu Tool. 95 100 10 Chl Title A Tr.214% 2144 2144 2144 376 Cudahy . 99% 100 9!) % 99" 391 Comw'lth rcd.107 107 107 3400 Contl Motors 174 9 0'.-. 17 76 106 4 81 % 1% 77 16% 994 100 65 4 66% 99 8500 Hupp Motoi'S 370 Uartman 4400 Caso Plow. . . . 90 do 2d pf. . . . 800 Libby . 1000 Montgv Ward 60 M W Utll pf. 1500 Nat Leather.. 100 Orpheum .... 20 Pub Service. . 21 Qualt Oats pf. 8 00 Reo Motors. . . 12 Sears Roeb'U. 2000 Shaw . 6 60 Stew Warner 75 do Mfg. 3400 Swift Int. 1000 Swift A Co. . 85 Thompson . . . 4 0 Temtor Prod. 2700 Un Carbide... 73% 250 Un Paperb'd . . 25 2900 Un Iron W'ks. 67 1000 Wahl . 11 226 West Jvnlttlng. 21 60 Wilson . 76 20 Wrlgley . 78 Bonds $3000 Com Ed Ist 6s H6\ 9000 Met E R Ist 5s 47 2000 Swift 1st 5s. . 90 18% 91 18% 1 I 'i 27% 13% 30 77 ...... .... 274 233 4 233 4 233 4 233 4 HS 17 73 27 4 33% 40 13% 30 77 96 10' 11% 17% IS' 13% 30 . 12 4 42 72 4 2 % 4 2 47 48 4 46% 454 124 4 123% 71 42 4 46 4 46% 123 -li 24% 24% '10 86 4 47 90 11% 108 408 77 U% 1.67 274 44 2Z% 49% Detroit 5 200 Cont Motors . . 11% 11% 11% 40 Det Edison... 108 108 108 160Kord of Can.415 415 408 60 Fed Truck .77 77 77 300 Mich Sugar. . 11% 11% 11% lOONoble Oil & C.1.67 1.67 1.67 1900 Pack Mot Car 27% 27% 27% 60 Palge Det Mot 44 44 44 200 Reo Mot Car.. 27% 27% 27% 60 Lincoln Motor 19% 49% 49% Philadelphia 525 Am Stores... 45% 45% 44% 44% 75 Am Rys pf . . 68 68 58 68 25 Brill . 45 45 45 46 5 60 Elec. Stor . . . 117 % 117 % 116 115 25 Oen Asphalt . 108 % 108 % 108 4 108 % 50 1ns Co of N A. 2X 28 28 28 5220 Lake Superior 22 22 20% " 44 Lehigh Nav . . 64 64% 64 50 Lanston Mon. 81 % 81% 81 4 373 Ph Co 6 p c pf 34% 36 34% "'' Ph Rjip T t c 24 24% 24 24% 26 24% ' T1! 985 Phil Elec. 300 Ton Mining 116 Union Trac . 808 Uni Gas Imp. . 100 Warwlck T A S 49% 8% Bonds $1000 Elec A Peo 4s. 63% 12000 Lke Sup Inc 5s 60 1000 Leli Nav is . . S7 6000 Penn 4%s .... si 2000 Ph Ele,- ist. s, 91 2000 Reading 4s . . 79% Pittaburgh 80 Amr W G Mch.119% r 60 do pf. 99 4 1 3206 Ark Nat Gas. . 32 100 Barnsdall Corp 49 125 Carbo Hyd pf. 4 1315 Guffey Glll_ 32 300 Indep Brwg... 4% 100 do pf. 13% 150 Kay C0 Gas. . . 1 % 6005 Maryland Ref. fctt 100 Mfrs L A Heat 58 4 42 Mld States OU 32 365 Nat Flrepf pf. 144 591 Ohio Fuel Oil.. 294 663 Ohio Fuel Sup. 514 150 Okla Gas. 42 80 Pitts Coal pf. . 90% 100 do common.. 58% 9810 Pitta Jerome. . u S600 Pitts Mt Phas. 50 280 Pitts O A O. .. 15% 25 Union Nat Gas.125 ' 1 125 U S Steel.102 1 430 West Electric. 53% 60 do pf. 65 Bonda $3000 Pitts Brwg fis. 76% -''.? 36 49% S% 63?i 60 S7 81 91 79% 20 00 33% 49 4 33 4% 13% 1% 5% 68% 32 15 31 53% 42 90% 68% 11 50 15% 02 54% 36 8% 21 64% 81 % 35 24 26 24 35 49% 8% ??% 60 87 81 91 79% 19% 120 99% 100 31% 31% 49 49 4 4 .12 32% I 4 13 13 1 Ti 1 % 5% 5 4 68% 58 4 32 32 14 4 15 29% 31 61% 52% 42 42 90% 90% 58 Vi 6$ % 10 50 16% 11 60 16% I2u 125 102 102 63% 64% Go 65 764 76% pointa higher to 7 points net lower. Total salea for the d?w were 17,200 barrels. Tha range ot ftrtoea follows: - ... Wedneeday's Open. High. Low. Cloee. cloae. - - 18.60?20.00 19.25 iTT. TT--19.45019.75 19.25 20.J6 20.61 80.16 20.17?20.18 20.17 oTT, ITT. - 20.25?20.45 20.20 SX'Ii !S?2 20.41 20.42?20.43 20.49 20.93 80.93 30.53 20.53(&80.55 20.50 20.63@20.56 20.60 8pot.. Apr.. May.. June. July.. Aug.. Sept. Sugar and Coffee Current prices. Sugar, granulated, per lb..14018 Coffee, Rio No. 7. per lb.... 15% Coffee, Santoa No. 4, per lb.. 24 Tear ago. 16% 19.70 Sugar?The market for raw sugar was etrong yesterday, the spot price was flrmlv established at 12.04o duty paid, on sales of 27.000 bags Cubaa, March shipment, at 11c cost and freight, to reflners. At the cloae of the day there were buyers a,t this price, holders aaklng %o advance. The f. 0. b. demand continued, with buyers In? clined to raise bids. Reflned sugar was unchanged, with the price range 14c to ; 14%c from thoae reflners in the market. An Improvement waa reported in ship? ments. The ftUuraa market closed flrm 04 Bet advances of 35 to 45 points. with the ?vslume of business still small and the trtsrket inactlve. Coflfee Futurea?The market opened 4 to 16 points lower, with March showing the maximum loss under liquidation attrlb uted to the circulation of a few notices. Local trade houses were sellers through? out the. day, bellevod to be hedglng opera? tions against purchases of coffee in Brazil. while the market flrmed up a little at the close on bull support. At best the mar? ket was quiet and an extremely narrow affalr, with traders awaittng developments, closing net unchanged to a decline of 9 points. In the cost and freight market flrm offers were scarce, and those here were about unohanged to a shade higher, The local spot market was nominally un. ehanged, with business reported qulet The range of prices follows: ?...._ mi .. , Wednesday's Own. High. Low. Cloae. cloae. .14.34 14.34 H.34 14.40@14.?0 14.49 ? 14.65 14.70 14.63 14.70^14.71 14 74 ? 14.93 14.95 14.90 14.96 .14.65 14.70 14.60 14.70 .- u 69 .14.66 14.70 14.54 14.68, . Butter, Cheeae and Egga Bttter?Receipte wera 8.486 packages. Creamery. higher than axlraa, lb.. 69? Mar May July Sept Nov Dec L9V'?;x,rw' 92 BCore- 68?68%c- firsts score l v^V^67*^ ?'Sts 8 8 to".* 58^6?uVH?.6oM,c; ?ei:?n<l8, 83 to 87 score, bS(*6-%c; lower grades. 66<367e- held 6?8Xcru8A.6i3f% 1?V8' **??**?? seconds. 55? 68c, unsalted. higher than extras. 72 4 ?73c^ ?64c8' J,???21 ?,nr"t8%65? 69c "^conda 360 ?64c state dairy tubs, finest. 66?67%c fasBKal0. Pr'me- 60@65?; common To fair 64c?6i,Cmi,.6HOVRted' PXtnl"' 66c: fir?t?. 62? f.Si. imiUtlon creamery, flrstB, 46?47c in?;iCUrrnt mak' ftms' *??*6c; seconds,' 40?41c; ,ower graces, 38?39%c packlng stock; current make. No. 1 40%? 41c ? No 2, 39?39%c; lower grades,'36? 38 %c rSh'***??RQc'Pts were 1,430 boxes. Steady State. whole milk, held flats. specials 29% fi!?. aL?ri,*?., run> 38?29c; lowe? grades. H ? 8Tc; twins. held, ape cfalB, whltes, 29?29%c: colored. 29?3oc average run, colored or white. 27%?aS4c: l0M,er fi*dea' l??27c: Wlsconsinr whVla ?n'ik4iLWl,w,..a7?,30o,; ?,n?le ?*talee. held, 30?31%c; double dataieB, held, 29?31e Toung Amertcaa, held. 32?33c; freehT22? S2%e; state aklma. flats and twlna, held, specials, 18?21c; fresh specials 17?18c prime to choice. 13? 16c: falr to good 10? 13c; lower grades, 4? 9c. Kga;e--ReoeJpt8 were 18,737 cases. Fresh gathered extraa. doaen, 61? 62c; extra flrata, 49%?60e; flrste. 48%?49c; aec Outside Buying And Covering Put Curb Market Up Oil Shares Lead Advance; Mining Stocks Active and Strong, With Low-Priced Silvers Prominent After early irregularity the outaide market turned strong yesterday. Trad? ers on the Curb took their cuc from what happened on the big board. When prices started to move ahead there was a hurrying of shorts to covor their commltments, thiB demand helping in large measure to establlBh the higher range of prices. Brokers reported a largor outside in? terest in Curb securities, although it was evident that the controlling force in the market was the professional ele ment. Oil shares were again prqminent in the day's trading and Houston Oil, which fared so badly on the February break. rose again to 120, closing at 118. Exeellent buying was reported again in International Petroleum. which sold at a new high record of 45%. Tropical Oil, controlled by the International, was also higher. Homer Field oils shared in the general betterment, al? though the movement here waa ncjt pronounced, the rise meeting heavy realizing. ' General Asphalt led "in point of ac? tivity in the industrial department, selling within a range of 104% to 107, closing at 106. Trading in this issue approximated 10,000 shares. Cuban American Sugar new stock sold off af? ter early strength. Bucyrus Company stock rose from 24 to 29 on dealings of 1,200 shares. Mining shares were generally active and as a rule displayed flrmness. Low priced silver issues were most promi? nent. Industrials Sales. Open. Hitth. I.ow. Last. 3600 ?Aeme Coal.... 2 2% 2 2% 10000 *Aetna Exp... 9% 9% 9% 9% 100 Air Reduction. 44% 44'/a 44% 44Vi 100*Alum Mfg.... 26 26 26 26 100 *Am Candy.... 9% 9% ?Vi 9% 1600 ?Am H S S w i 73 76% 73 75 2600 Am Safe Raz.. J0Vi 10% 10 10Vi 500 Armour Leath. 16% 16% 16% 16% 125*Assoc Welding 1.".% 15% '?% Lr>% 400 'Briscoe Motors 67 68 6" 6S 400*Br-Am Ch Cp. 8 8 8 S 1100 ?Br-Am Tob rts 7% 7% 7% 7% 1200'Bucyrus Co... 24 29 24 29 300'Car Lt & P.. 2% 2% 2% 2% 700 ?.T I Case Plow 17 19 17 18 1500 Cent Ter SuK.. 7% 7% 7% 7% 800 ?Cleveland Auto 70% 72 70% 72 100'Conley T Foll. 26 26 26 26 1300 *Cub Am S w i 16 47 45% 45% 11000 *Gen Asphalt. .106 107% 104% 106 200 *Goldwyn Pict. 23% 23% 23% 23% U'OOGrape-Ola. 1% 1% 1% 1% 1500 do pref. 2% 2% 2% 2% 400 *IIydrauI Sti C 35 35 34 34% 100 +do pref_ 98 98 98 98 200 Indian Pack... 15 15% 15 15% 300 Inter Rubber... 12% 13 12% 13 3000'Kay Co Gas.. 1% 2 1% 2 125Lima Locom... 92 92 91 91 250 *do pref. 95 95 95 95 800 *Nat Coal & Ice 41 44 41 42% 300 No Am P & P 5% 5% 5Vi 5% 800'Orpheum Cir. 29% 30% 29% 30% 1000 Perfection Tire 3% 4 3% 3% 100'Philips Jones. 58 58 58 58 100*Ph-J Cp pf wi 89 89 89 89 4800 'Press Tir & R 4% 4% 4 4% 400 *Rainler Mot . 42% 42% 42 42% 1000*Repub Rub ..4% 4% 4 4 2500 'Rndio Co w i. . 2% 2% 2% 2% 2800 ?Rnd Co pf w i 2% 2% 2% 2% 200 * Root & Vand. 49 49 49 49 700 ?Santa Cec Sug 1.1 14 13 V. .U% 1200'Stan Gas & El 19 19% 18 19 2500 *Stand Gas pf. 40 40 39 39% 1200 Submarine Boat 16% 17 16% 17 500 *Swift Inter . . 45 46 45 46 300 ?Tem C & F P 41 41 Vi 41 41 150 *Todd Shipyds.171 172% 171 172% 9600 ?TrianBle Film % % % V2 1500 Un Prflt Shar 2% 2% 2% 2% 1500'Un Pic Pro C 15 16% 15 16% lOOO'Un Retl St C 14% 14% 14 14% 500 *U S Distribut 52 53 52 53 200 'U S Hisrh S T 31 31 31 31 2000 U S S S Co.. 2% 3 2% 3 500 U S Transport 10% 10V. 10% 10% 200 'V Viv'dou. Inc 18 18% 18* 18"% 100*Warren Bros. 65 65 65 65 1000 'Wm Davies .. 42% 42% 42% 42% 600*Wyllis Corp.. 19% 19% 18% 19 800 ?Willys lst pf 95% 95% 95 95V, 500'Wlllys 2d pf. 75 76 74 75 Standard Oils Sales. Open. High. Low. Last. 300 ?Anglo-Am Oil 27 27 27 27 50'Prair Oil & G ? 710 700 705 200'Std Oil (NJ) ? 865 855 863 100 *Std Oil of N Y ? 480 470 480 Other Oils Sales. Open. High. Low. Last. 18000 *Allcn Oil. 2% :.V4 2Vv 3 18000'Allied Oil.... % vl 4 A 3500 'Amal Roy.... 38 40 " 38 40 5700 tAnna B W Oil 77 79 77 78 1000 *Ark Nat Gas. 32% 32% 31 ;n .;, 7700 'Boone Oii_ 4% 4 % 4% 4 V, SOO'Bost-Mex Oil.. 2% 2% 2% "-K 2000'tBost-Wyo Oil 1% 1 fV J% IA 300'Brazos Oil C. 16 ifi ifi8 jfi^ ! SOOBurk V C Oil. 1% 1% IU 114 2400'Carib Synd... 32 32 SO 31 300'Circle Oil. 3% 3% 3% 3% 400'Cit S B T Sh. 40V. 40% 40% 40% 3000'Cosden & Co. . 9% 9% 9 9U 15000'Dom Oil. 14% 15% 13% 151% 700'Duquesne Oil. 7% 7% 7% 7Vh 500*Elk Basin Pet 10% 10% 10' iou L>00 Enjjineers Pet. 1% 1% 1 u iu, 5600 *Esm Oil & G. A A % A 1C00'Federal Oil... 3% 3% 3% 3% 700 Fensland Oil... 7% 7.W 7 7 2500'Gurt-Glll O. . . 31% 33% 31% 33 600 *Gum Cove Oil 2 Vi 2% 2% 2% 600 Home P of D. 3% 3% KVi 3% 600'Houston Oil... 119 3 20 117 118 4000'Hudson Oil... % li J. tu. 45900'Inter Pet. 43 7500'Invincible Oil. 39% 1000 'Island O & T. 5 200'KinB- Pet Cor. 2% 1000'fLance Creek. 50 500 Livmsrston Oil. 1% 1200'Lone Star Gaa 3," 5700 Magna Oil. 4% 400'Manhattan Oil 21% 700 'Maracalbo Oil 19% % oOOMeKenzie Oil.. 6% 200 'Merrttt Oil C. 20 V. 600 Met Pet. 3 " 1S00 'Mexico Oil.. .. 1% 2600 'Midwest Ref. .121 700 'Midwest-T Oil % 1000 N Am O * R 4 1000 O O & G (nw) 4% 100'Pan Pr A R. . 19 100'Pan Pot pf. .. 80 400'Pennock Oil.. 7% 2000 'Penn Gas. 30 1000'P P (x) 100* 41'A 1000'Prod & Ref.. 9 1500'Rerf Rock 011. 1 300 'Rick Tex Co.. 1% 2500 'Ryfcn Pet. 3 1500'Salt Crk Pr. . 51 300 Savoy Oil. 6% 6% 1900 Sea O &?.... ? % A % 3000'Simms Pet... 35% 36% 35 36* onds, 46@48c; dlrties. No. 1, 44@46c; N'o. 2 and poorer, 41?43c; checks, (food to choice, dry, 38? 40c: state Pennsylvania and nearby Western hennery whltes, extras, 59? 60c; flrsts to extra flrsts, 65<3>58o; gathered whttos. flrsts to extra flrsts, 56?68c; Western. whltes un dergrades, 52?64c; Pacific Coast. whltes extra flrsts. 67?68c; flruts. 54?56c pul? lets, Petaluma. 47? 48c; otlier sectlons 16? 47c; other Western and Southern gathered whltes. 49?B7c; state, Pennsyl? vania and nearby, hennery browns, ?x tras, 64@56c; gathered brown and mi.xed colors. extras, 51@52c; gathered brown *?., - ,?xed coi0Ta- flrsts to extra flrsts, 48 Vs ?60e. Livestock, Meats. Provisions Yesterday Year ago Llve ateers, fair to prlme. 100 ?bs .J12.50?$14.60 *14.50@$19.00 Dressed b e e f, sides, lb.17? .21 .19@.26V4 Llve veals. com? mon to prlme, !00 lbs . 17.00? 24.00 15.00@20.00 Dressed veal, , c'ty. lb.24? .34 .22? .30 Llve e w es, 100 lh?. 8.00? 12.00 10.00?14.00 Dressed muttoa, city, lb.17? .22 .20? .25 Llve lam bs. fair to prime, 190 lb" .- 1S.00? 20.25 19.50@21.00 Dressed lambs, city, lb .29? .34 .31? .37 Hogs, 100 lbs... 15.50?16.75 18.25?19.50 Dressed hogs, bacon. lb.2JH?.22% .26?.15Vi Mess pork. bbl.. 42.00?43.00 52.00??_ MeM beef. bbl.. 1?.00?1J.OO 36.00?36.00 U a r a, Middle West, 100 1*m. ?4.a5?21.36 28.?0?29.00 The High Cost of Experience EXPERIENCE is said to be a good.teacher, but her charges are often ruinous. In matters of importance it pays to take advantage of the knowledge gained by others through their years of experience. In no field is this more essential than in the care of estates and trusts. The duties involved are very exacting and may cover a span of many years. Collective knowledge based on long experience is of the greatest importance. To these qualifications should be added permanence of existence, which is better supplied by an institution than by an individual. THE UNITED STATES MORTGAGE & TRUST COM? PANY through its long service is especially well equipped to act in the capacity of Executor and Trustee. With its ample resources it meets all of the necessary requirements, and the charges, fixed by law, are no greater than the fees allowed an individual acting in these capacities. Specific figures and pertinent facts are contained in our bookleU "ESTATES AND TRUSTS." rvhich will be sent upon request. UNITED3TATES MORTGAGE &THIST CQMPANT Capital and Surplus $6,000,000 Offices: 55 Cedar Street B'way at 73rd St. Madison Ave. at 75th St. 125th St. at Eighth Ave. lOOWoodburn Oil.. 7 7 7 7 Mining /?a!es. Open. High. Low, Last. 175000 Al-Br Col Met IA IA IA IA 1500'Ariz Silver .. 1% 1% 1% 1% 3500 *tAtlanta _ 3 3% 3 3% 6000'tBelch D (a p) 11 12 11 12 4000 tBelch E (a p). 14 15 13 14 2000 Bi? Ledge .... A A % A 2000 'tBooth . 5 6 5 6 10700 'Bost & Mot>t. 72 74 72 74 3750 'fCaledonia ... 35 36 34 35 1700 Canada Copper .1% 1% IA 1% 2200 'Cnndelaria Sil % % % % 2000'fCaahboy .... 8 8 8 8 200'Cons Vir Silv. 3% 3% 3% 3% 9300 'Cortez Silver.. 55 56 53 55 800 *De B Con M. 41 % 41% 41 41% 6400 Divide Ex (a p) A % A % 700'Eur Cr M Co H H % ii 11200'tEureka Holly. IA 1% 1% 1% 4000 El Salvador Sil 2% 3 2% 2% 8000 Emma Silver .. 14 15 14 15 650 'Forty-nine M. 1% 1% 1% 1% 7800'tGold 7, Div.. 27 28 26 27 300 'Golden Gat*.. . 1 1 1 1 6500'tGoldfleld Con. 13 14 12 13 29500 'tGoldfleld Dev 8 8 7 7 4300'tGoldfleld Mer 3% 4 3% 4 375 Hecla Mining.. 1% 4% 4% 4A 300 'Hond Am Syn 18 18% 18 18% 3700 'tJim Butler.. 23 24 23 24 5600 tJumbo Exten.. 11 12 11 12 2000'tKewanas .... 2 2% 2 2 2700'tKnox Divide. 11 11 10 10 200 Ln Rose, Ltd. . A A A A 1000 Louisiana Cons % % % % 1000 'tMacNam C M A A A A 1200'tMcNam Min H ii A % 100Maj?ma Cop .. 38 38 38 38 3500 'tMarsh Min . . 16 18 16 17 800 'Motherlode Cp 5 5 4% 5 700Mur-M M. Ltd 76 77 76 77 1000 Nipissing M Co 11 11 10% 11 600 Ophir Sil M Co % % % T| 600 Prince Con . . % \l ?% \i 3000 Rex Consol_ 9 10 9 10 19500 Roper-Gr M Co A A % A 700 Seneca Copper. 15 15% 15 15% 600 'Silver Dol M, % Va % % 1500 Sil King of Ar A A % % 3000 'tSil King Div 7 7 6 6 22500'tSilver Pick.. 21 23 20 21 600 Stan Sil Lead A A A A 3700'tSuccess Min. 6 6 5% 6 2300'Sutherlund Di 5 6 5~ 6 3200 'Tono Belmont. 2% 2% 2% 2% 1200'Tonopah Div. 2% 2% 2 2 750 Tonopah Ext... 2% 4 2% 2% 2% 520'Tonopah Min. L'% 2% 2 2% 1250 United Eastern. 3% jug 3% 31's 1000'tU S Con Min 7 S 7 S 3500'tVic D (ap). 8 9 8 9 110 tWash G Qtz. . 1% 1% 1% \A. 2350 tWest End Con 2 2 1% Ul 3500 tWh Caps Min 14 15 11 15 2000 tW C Ex (ap) 2% 2<-. 2% 2% 200'Wh Knob pf. 1% 1% l'S ia? 27500 Wilbert Min... 10 12 9 10 Bonds Sales (000 omitted). Open. High. Low. Last. ? 11 'Allied 1'ack 6s. 76% 77 76% 77 5'Am T & T 1922 95 95 95 95 B 'Beth Sti 7<"<- 1922 97^? 97% 97% 97a. 25'Gen El 6k 19J0. 99V:. 99% 99% 99% 840 'Tex Co 7% notes 99% 99% 99% 99% ?Unlisted. tSells cents per shars. Welsbach Company Earned $9.38 a Share on Common As a result of operations in the vear ended December 31, 1919, the Wels bach Company, manufacturers of gas! mantles, returned net profits after! charges, but before Federal taxes, of' $414,275, equivalent, after $85,750 in t preferred dividends, to $9.38 a share' earned on the $3,500,000 common stock, which compares with $289,112, or $5.81 a share in 1918. Gross profits in the year amounted to $959,975. or $141,181 more than in ' the preeeding year. From that amount' depreciation of $91,090, interest of| $349,250 and $105,360 reserve for sink? ing fund were deducted, leaving a $414, 275 balance available for dividonds. Holders of the common stock received $70,000 in dividend uisbursements, the same sum paid in the year before. Surplus before excess profit and in? come taxes for 1919 were taken care of was $258,525, a $125,163 gain over 1918. Financial ltems The St. Louls-flan Francisco Railway Company has declared payable on April 1 the 3 per cent Interest on cumulatlve ad Just ment bonds for the six months ended December 31, 1919. " February net Income after provlston for taxes. depreciation. etc. of the Gulf Stat?? Steel Company was $77,265. Prentlce & Slepack have opened a branch &?&? F6 ???^ty-f?Ur*h S*^t w"th Clarence F. Alcott as manager. New Securities of Old Companies In order to take care of their constantly expanding busi? ness, some of the country's strongest and best established corporations have had to come into the market for new capital. They have been able to get it. of course, even under pres? ent conditions?but in order to get it they have had to pav and pay well. Yield and Protection The result has been the creation of what is practically a new class of securities?of preferred stocks yielding a high return and so safeguarded (from the standpoint of the in? vestor) as to give them many of the qualities of first mortgage bonds. From among these new securities of old corporations we have selected, for offer to our elients, two particularlv at? tractive issues. 1 One, the %% preferred stock of a nationally known con cern, with an extremely attractive common stock feature. (Described in circular 21-E) 2 The other, the 7% preferred stock (price 97) of an old established corporation whose strength and prosperity are indicated by the fact that for years past its common stock has paid dividends of from 6 to 20%. (Described in circular 30-R{; For full information, call or write John Muir & Qo. Msi&tisNewYork Stock Exchange 61 Broadway New York BROWN BROTHERS & CO. Kstablished 181g Philadelphia NEW YORK Boston Denmark Aiding Reconstruction We have prepared an illustrated booklet on the agrieulture, commerce and finances of Denmark showing the prominent position held by Denmark during the war and her present importance as an exporter of foodstuffs; also Denmark's relation to the expanding Baltie trade. ? Copy upon Request. BROWN, SHIPLEY & COMPANY ~ . _ . Established 1810 Foundera Court, Lothbury rww^- #~ ^ inviviN tt <-. Offlce for Trave ers l.U.\DW?, E. C. J23 Pal, Ma? lonxjon 8 w New Jersey Zinc Company Circular on Request Evans, Stillman & Co. Members of Nets York Stock Exchange Telephone Bowling Green 4360 60 Broadway, Now York ...j.M.W.Wt