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4 10 THE SUN, FRIDAY, MARCH 5, 1916. Exempt from Income Tax Berkeley, Cal. School 5 Gold Bonds Dua Serially 1925 to 1949. Legal investment for sav ings banks in five New England states. Bonded ,debt approximately 3 of assessed valuation. Prices to yield 4.60 Complete iclalb en request for circular N. W. Halsey & Co 49 Wall Street, New York FnUadilphle Ooitorj Chi oa fa Daltlmore San Fraud km it. I.outt FINANCIAL HEWS AND COMMENT Hnll.v In the 8tock 3Iorkct Checked Good Demand for Bonds. FERMNESS IN STERLING NEW YORK STOCK EXCHANGE IBICES. Ks-,11ra ajifl other "hare. TntTMDAT, March 4. 1916. ClOflBf. ID1T. nid. i AJk. I m 82 J 4 81 394 274 934 414 112 46 84 6 204 26 74 194 J. K. Rice, Jr. & Co. Will Buy liiiiiinn icrtiitn.i loin, Mock All llccre n. I'M. Mm k IIHI I'.. . Illl. Com. stuck Mini. real Northern Paper Stork Kill Interbnriinuh 1C. 1. .stock ar. station. I Hank uf I'nha Stork I on tolled states r.ipr-.s Stock 211(1 14 ard Making Omi. Murk J. K. Rice, Jr. & Co. Will Sell I act I onnertlml Hy. A I- f ora. Mk. 100 F.tertrlo lloat Pfd. Stock RO 'eriii.nl. Ins-trance Slock ion International Nate Stock. 1110. 1. It. Montgomery I'M. Stock 3(1 I'hrlps Hodge A Cn. Stork 100 Itoj.l linking rnwdrr I'fd.Ntk. I DO Standard Coupler Coin, .stock J.K.Rice, Jr. & Co. none 400t to 4010 John. 3 Wall St.. N. Y. Misstari Pacific (Lh.DIv.) 1st 5s Victor Fuel Co. 1st 5s Chicago East. III. 6s, 1934 AND OTHEIt ISSUES DEALT IN F.J.LISMAN&CO., Member of New York and Chlraco Stock Exchanges 0 ItROAII STHI.ET. NF.lf YORK I ' ' 1 I The thirty-four years' ex- I I perience of this company I ui : r tions efficiently as Trustee under mertcages and trust indentures: Depositary in reorganiza tions; Agent for transfer of stocks and bonds; Registrar of stocks and bonds; Fiscal Agent for payment of dividends and cou- pons; and Assignee or Receiver. Booklet detailing our service to corporations sent upon request. Metropolitan Trust Company Ceorge C, Vn Tujrl Jr., Preside.! 4 Wall Street V Preside.! s Wall Street CONSOLIDATED EXCHANGE. 02 101 ISO 44 1014 1204 86 29 10 314 68 S 394 274 94 42 1124 Hi 87 64 274 274 74 20 "ft 62 101 162 26 102 1204 o o iint 13 16 78 26 944 974 9S 28 684 68 4 64 103 31 87 1274 4 17 48 734! 26 964 984 1U1 2U 664 684 4 B4T4 106 31; 874 129 6 17; 61 16X4 1664 a a a. .1371 4011 40t 116 10 ?4 1164 104 284 804. c 21K. 35! 35' 40 I1". 6 After a first hour of rather active strength the stock market yesterday de- I veloped moderate reactionary tendencies, j The afternoon dealings were desultory , and the Hat watt not under any partlcu- i Inr pressure. The cloee was steady with Irregular riet changes and a email frac tional averngo of decline. The bond department displayed relatively more sustained activity nnrt presented the mvt gratifying features of the market sc-sion. Although foreign liquidation of bonds continued, the Investment Inquiry hits proved more than adequate and bond prices have turned upward again against the selling from abroad- Announcement that nil of the St 1'aul Railroad's new 6 per cent, convertible bond Issue bad been sold wan an encouraging token of the persistence of Investment demand, al though a good deal of this offering has yet to pass out of the hands of dealers. In the stock market It wan manifest that modest Ideas about profits prevailed ntnong traders and realizing sales com bined with the small supply of stocks from abroad to put a check on the ad vancing movement which set In over the end of the pant week. 'Wall Street Is disposed to express Its fundamental op timism aery cautiously nowad.iys and observers do not profess to see signs of nny distinct trend in the course of quoted values, but tllre is a deep Heated belief that the share list Is In a position to re spond very favorably to any Influences or events which can be regarded as unmis takably favorable. I'.isvlbly It Is for this reason that tlfro has been In the last few days so much circulation of goewlp, con jecture Hnd rumor about the chonos of an early termination of the Kuro- r-ean war. When put to the quesaon Wall Street confesses that there ts no evident 1akIs for pcao talk, but the oixiratloni In the Dardanelles) are be ing eloMely watched and a large Impor tance li attached to them. Adjournment of Oongruss certainly re- movnl a factor of Irritation from the financial and business situation. The conclusion of the session without enact ment of the shipping bill or tho rural credits measure won for the lawmakers a lnrgo amount of negative Ipproval, but business Interests will be troubled for a long tltn to come by the workings of the laws whleh Congress did place on the statute books, Hecoll"Cf.on of thl fact keeps the stock market from expressing any great sens of relief over the ending of the protracted strain to which the long Congressional ti lon ha subjected values. There were no new developments of a eonltiMo sort In relation to the Inter nntlonal questions with which Washing ton N dealing. According to Individual preference one could Infer from the ac tion of the commodity markets that they were affected by the output of prema ture peace talk or by concern over the possibilities of Interference with the country's foreign trade. Cotton de l imed and wheat suffered another severe lire ik The extreme fall of wheat was more than seven cents a bushel and at th low prlco of tlm d.iy a decline of 30 cents from the top of the season wan represented. Corn and oats were also weak. In the foreign exchange market there were sign- that the process of arranging for the extension of bank credits hero 11D4'121 to Ixmrion bankers was approaching ' r,3H 54 Sales. I Otwn-I Hirh I Inr. I eat. ?! i 12 8 20 1 10: 8" 4 6 116 94 4341 47 1444 146 294 40 1124 113 ! k ; 84 21 H 21 344 36 .. ! 2441 93 ' 934 iss i:o 1 1064 1074 13S4 140 88, I 924 94 Ui 9 113 1134 31 31 4! 497, 93 ! 934 90 ' 9S- 103 J10I4 19; 19'. SK 9 14 6 36 4 374, 2 y: I 1241 .. t't . 664 7.14' 84 I 6' 64 ' .174 4 111 ,11S4 7, 133 I133S 10 194! 23 .. 90 96 7 1 111 1112 I 5 ilij ! 67 1 4 62 , 63 j 6 4. 2'-'j 20 111 2tU lib 204 113 104! 10. 11 j 12'4 49 M r.uv Reporti that negotiations wer. actu ally under way for the termination of the war had a bearish effect upon the wheat market on the Consolidated Kx change In the ufternoon. May wheat broke to $147, compared with a h.gli price touched f earlier In the day of $1,634. 't nloseil at J1.4S;, which compared with an opening of $1.61 to $1.61'; and a closing quotation on Wednesday of $1,524. United States Steel opened at 44. against a closing price on Wednesday of 4JIN, and advanced to 44',, but closed at 43'- Heading opened at 144 4. unchanged from Wednesday's closing quotation, anil touched a high of 1 4 4 b-k , but then declined to 1434, at which It clofed. Amalgamated Cop per opene-l at 64 H, the sarn as Its closing the d.iy before . touched a high of a low of 63 and closed at 634. Union Paeltlc's opening was 118 4. against a closing on Wednesday of 118a4, n sold ns high as 11SJ and then declined to 118, with Its closing 1184. American Ileet Sugar opened at 3J4, sold as high as 40 and then declined to 894, at which It cloed. llethlehem fiteel's opening was 61",, its high r. r. s; , Its low 64 S and Its clo-ing 64.. Cen tral Leather, after opening at 314, de clined to 33 &a, which was Its closing Third Avenue opened at DO 4 and closd Ht 49'.. New Haven's opening was 494 and Its closing 484- Sal-a totalled 16,441 shares. "Km IMlntnmm Stock Price.. The .Stock Uxchar.cn committee, lias established new minimum prices for the follow Init Mocks, to tHke effect to. day: International Harvester of New Jersey preferred, 110; Ilalrtwfn loco motive preferred, 90, and Ioose-'Wllen 2d preferred, f5, DIVIDEND DECLAKATT0NS. rM ir.so April j pfd IS'i April 1 pfd li .Mar. it pfd IKr. April 1 J Apr. II 1 K 1 April 1 1 . .f ar. in completion or had terminated. No In formj'lon wa obtainable on this sub ject, but sterling bills displayed distinct firmness. The Hank of Hngland's weekly return suggested, inoreover. that the tltnnclal burden which the war b, throw ing on Iindon would require n resort to outside banking facilities, The Hank of Kngland'e statement covered the turn of the month, but this was far from accounting for the drop In the reserve ratio below 20 per cent, and a losa of i.lmost 120.000. OOn gold. MONEY AND EXCHANGE. Company and Term. rtk, Amt, T'aya.t!. i;e,Kul: nun wes .noinei ItMllWfiV BratllUn Traction, I.Uht anil roxser, ijuart-riv. ArkanmiK allv Hall y. I.l.ht an 1 l'o er, quartertv f"!lltt 1'e.iboilv. qur trjv Ner- Vork Trmirlt. . . United rTaitlnn and Klectrlc. inmrterh. . J'etemnn laike Silver Cobalt Mining, quar terly Mii.kuKee tlai nnd Ulec- trle, quarterly pfd IH' Mar. 11 ClnclntMtl and Suburbtn lleil leiepnone, ijuar teflv , fltanrlard !ns nnd V.)" trie, quariero, ernp Cleveland llutlway, iiuur- teriy Cleveland Womte 1 M1!lr, quarterly Aplty Itubb'r, unl- unnual Apt ey Ilillinr, aeml- I Miiiiuai . . , . , 1 1 r International ,alt.. ,, H April t DAILY FINANCIAL CALENDAR. April 1 1 Mar. 15 Mar. St com 5", April 1 Th Kew York Federal Reserve Hank rates were 4 per cent, for thirty to ninety days r.nd 6 per cent, for longer bills. Open market discounts, prime accept ance, ma.uring up to ninety days, 2s;i 24 per cent. Commercial paper rates were 34 U4 per cent, for sixty and ninety days bills and for four to six months best names ; 4 i1 6 per cent, for others. Time money was unaltered. Ratee were 2 4 '' 24 per cent, for sixty and ninety days and for four months; 34 3 4 per cent, for longer maturities. Call money on the floor of ithe Stock Kxehange yesterday ruled at 2 per cent, high 2 pr cent., low 1 per cent. Domestic exchange on New York: St. Ionl, 10c, preniiU'l, San Francisco, fiOc. premium; Mit.neapolts, SSe, pre mium; Chicago, 10c. premium; Cincin nati, 10c. discount; Montreal, $7.60 pre mium. T'ie weekly statement of the Bank of Ilng!and shows the following chnnges: Total reserve decreased 4,1 S9. 000, clr riil.ii ot. Increased :sin 000, bullion de ctoaeeil 3."7ri,00. other securities In iti'.iKiHi ir,,24L',nno, n'her deposits -crnnl 1 11, 017,000, jmhllo deposits In iie.iHed 21.948.000, government securl tie'i de rc.ifcert 7,000. Tile proportion of tin. bank's reserve to liabilities Is now ; . Tn er cent., against 30.10 per cent. l.iM ek. Call money In Txmdon was l per cent. ; short hills, 1, per cent.; three months bills, 1 4 per rent. Sterling exchange was firm. Final quotations wete: Demand, 4.81; cables, t.M . R-.r silver In London, 23 4t ; In New Yi.'li, 4 9Nc. N'.-w York Clearing House statement Kxrhanges. 5313,262,992; halnnces, $21,- 2... Hu, ,ut-Treaury credit balanco, 9Si!,62. DAILY TREASURY STATEMENT. WASJU.VfiTO.V. March -The rtatement of in" r"oeiin aiiij pay warrant, or the Tteas. ury 'io Mareh S Peeelpta Ji.jsa.S'll IMy warrants,. l.'a.-H Thin mo Vlaeal rr l?AX: Jtl'e,,J29 ..I4 K.B 4,is,M? l-.X DIVIDEND "ftinpan nm Tenn Arnerli .111 euniatra Tobacco, emi -ahniin Hofton Woven Jlo.e and Itllbber. uimrterly Caiuinst imd Arliona, quar- tei.y tVIHInni Curler, quarterly CheveliniiiKli Manufieturlnir, tuu-iiTiy Chi letirmiL'li .M.inufarturlna, etra E. I dn I'nnt de Nernour., qinirte ly rj. I ii j il" '.'emiiiin l'..il e tr . Ill I'n ill' ri 1. mi, 1 " ' Mersep lia'er I mil pe. qilir ter v Patil'l llr v ng. qliurter rtallwav Ktiel Spring quarierty mamlard Oil of (ililo, iiuiiiterly Maulurd (Jll of Ohio, ritra, . Violrtrln. Coppr Jllnlus Mtoek. pfd pfd Amt. S'4 t: (Cn isr. it it com 1 om pf.l lifil 1064 107 ' 12 12V S24 S2--.4' 4S-! 4S4' 26 214 1004 mi 1014 102 20 I 204 105 1064 li 20 . 92 924 j 160 1624 174 174 . . 19 764 76 1134 1434 Sll 844 14' 14 1. i-.a 30 32 324 1034'l06s S3 i 834 164! 134! 46 4S j 414' 464! 62 J 69 j 474 474 924' 94 I 2041 264! 130 13: 13 494 63 44 118 79 10 134! 40. 12 10! 11x4 794 11 27 ' 2S 9 1 11 31 ' 3.-. r.r.41 664 102 4 '103 134' 434 1044 106 617i 194 14 85 1 674 20 624 99 624' 30! 20 1 ..I 87 684 21 63 too 964 1 97 lOOjAflarrui Express).... CO00 Alaska O M lOOtAHIs-CholmcrH lOOlAllis-Crmlmora pf efiOO .Vnial Copper... 3400'Atn Heot Sugar 800 1 Am Can 200 Ant Can pf 300'Atn Car & V 100' Am Cur & V pf 600 Am Cot Oil 10'Am Hxpresa 300'Am II & Leather 800, Am H & Leather pf 8400,.Vm Ico 400 Am Llnsoetl Co 300IAin Loco 200 Am Loco pf 2900 Am Smelting 200 Am Smelting pf , 100 Am Snuff 160 Am Steel Fdy ., 4001A111 Sugar , 147 Am Tel & Tel 600iAm Tobacco 100'Am Woolen 300 Am Woolen pf 160 Anaconda 1000'Atrh, Top Sfs 200 AtcJi, Top & 8 1V pf . . . . 100 At Coaat Linn 400 Baldwin Loco........... 1800ll O 224 11 4 0 pf ...... 300 Hatopllaa B150 Uethlehem Bteel. ....... 200 Uothleham Steel jrf...... 600 11 F Ooodiich 400 Uklyn Rap Traa 100 Hklyn Un Oa. .......... COlllrunsTwlck Co 700 Cal Pet lOOlCol Pet pf 1500 Can Pacific 1700On I.mtlier 320 r & o 44 Con ASA Tel COO Chl fit West 300iChl Ot West pf. 1900 Ch. M ft St P... S40IC111. It I ft Pao.. 460iChIno Copper lOO'Cone Can lOO'Corn Products! 760 Com Cm 40 Del ft Hud , 100 Do M ft F D pf 10 Detrolt-F.dlson 730 DlsHltera Sec 1200 F.rle 600 Krlo 1st pf 100 Fcslenil M 8 pf 5(iO,F W Woolworth 75 Gen Client Co 12h rit-n Phem Co pf 200 (Jen Klec Co 620 Ccn Motor 100 Oen Motor pf 200 fit Nor pf lOOOidt Nor Om ctfs 800 Guggenheim 200! Harvester 2 J 100 Harvester Corp pf 100 111 Central 8100 Iniplratlon Con 100 Int Paper SS5 Int PajxT pf 300 Inter-Met 1400 Inter-Met pf 100 .1 Kayner 100 Kan City Sou pf 100 Liggett ft Myers pf.... 1300 Lehigh Valley lOOiLooee-Wllefl Hie 200 lxxwe-Wllea His 1st pf . 200 L ft N 100 Mackuy Cos pf 300 May Dept Store 2700'Maxwell Motor Co fiOOf. laxwe!! Motor Co 1 pf. 5200 Maxwell Motor Co 2 pf. H0u .Vex Pet lloO'Mlnml Copper 20'i Minn. 8tl'4R9M. 1000 Mo, Kan & Texas 300 Mo, Kan ft Texas pf. .. 1900 MUr.ourl Pacific 240 MenU'iu Power 200 Nat lJIsctilt Co 1200 Nut l-ad 20 Nat Lead pf 1500 Nevada Con 2200 Now York Central 1900 N Y, N H ft H 123 N Y. Ont ft W 200 Norfolk ft West 1000 Northern Pacific 850'niclllc Mall.... C'.'O penn H H 200'Htts Coal 30 Pitts Coal pf 100 Prvwd Steel Car lOOHltllman Pal Car Co,.. 36501 Ray Cons Copper 300 Hwy Steel Sprlmr 100 Republic Steel pf 16640 Reading 30 Reading 2 pf 100 Rock Island pf 400'Scabo.ird A L 600 Seaboard A L pf 100 Slose-Shellleld 23 S S Kresgo pf , 20ti0 Southern laclflc 1150 Southern Hwy Co 800 Southern Hwy Co pf . . . 125'Stnndard Milling Co.... to Standard Milllnir Co pf. 3176 Studebnker 100 Studebakcr pf 725'Tenn Copper 100 Toxna Ci lOOTc.xns Partfle 4650'Thlrd Avn R R 200 'Underwood 200 Union llac ft P 6300jl'nlon Paollle 250 Union Paclllc pf...... 200 Un Ry Inv 400'Un Ry Inv pf 100, U S Cast I Ilpe lOOlU S Cast I Ilpe pf.... 300 U S Rubber 100 U S Rubber 1 pf 30964 U S Steel 1400 U S Steel pf 2000' Utah Copper lOO'Vn-Carnllna Chejri 100 WnK-iHh pf 200 Wells Fargo Hsp 500 WoNtlnghtmt-e I Jlec 300' Western Maryland .... f,0(i(Western Union Tel.... 600' Willys Overland 100 Willys Overland pf 83 I 83 294 304 84 84 34 34 644, 644 394 40 274' 27 9341 94 41 4I 42 1124 1124 46 464 844 844 64 64 264 274 264 274 8 8 20 20 78 78 64 64 1014 1014 161 151 est. Clos- 83 83 294 294 84 84 34 34 634 534 39 I 39 274! 274 934 94 414 414 11241124 46 46 844 844 64 64 264l 274 264, 274 8 8 19 194 78 78 624' 624 Nat Chanr. " 4 4 Vi GOSSIP OF WALL STREET. JTaaflrapplna; Efflclracy. Legislation to limit the length of frelrht trains, such as that Introduced In Indiana, according to the ItnUway Ao Qatettt, Is legislation to prevent useful nrorreas nnd economic operation. to secure which the railroads have spent A.'5l!,)c,.,n ? " millions for locomotives of Increased 1 Aniide ftt.r.a tractive power anq in eliminating Kriiuiv. noo 1 1 iki RAILROAD AND OTHER BONDS. Tnuianctlana from Opening te 2t4B T. M. Adams nip 4a 1000. ...7 I s Alaska Hold rr is rets 1st pd 1000 I I fl Am rot oil i 1000. lot) Con Oas ev as rets lull pd 4000.. I l.'t.lfl 40oo. I t n 1 4 J0O0. . I 1 UIh Cuban St 1 904 Tom CO pn3q ROOO fKl.li DelAHud cv 4 trm .e..nn too.. .noU W)o . .nnu nrmo.M. hh I noon . HO?H VHH20 H(I?S anoo ...ot) ronooo. no t.TO10'M,,Hn7) inxhKi un IMMO . fit)."s,.NnrthPaclflc .11 1 Among all the Indefensible measures Am SmeltVcr.s Den 4 IlloOr 4s( .'ie?ji)..ia!;a i Intrnrtiieed In Rtata leirlslatitres there t'1?00-' !.' "3""1" . tints so Tna,n Ano eet.s ika tln-fttm 1 ! Il T 1 "V" 1 '!Z M,l a r'I'r v ' li 7l -i? 1 nn nxk u-r .a UC r..j n ti-x- "" I t"Jt Ml. . I If 4 I Jl , I UU IIII"!.. l4 "which nan been no utterly Incapablr or AmTATcv4, Dftroit Un iM iontrtoi. iiw.14 hInr arlt-oratrl nn anr rntlnnnl nrrt(tt ! 2rt(- i!,n,. 7 1 7h 10(10. . . t :. 1000. . wow DMiiir .spritr- 2..nfi iTg $100,000,000 BRITISH CREDIT EXPECTED SOON Humor of $25,000,000 Yester dny Discredited as Bcin?: Too Little. .4 I WAlh ,1 S.ws t ., .n .allnltnl tesi.t '7ias the train limit bills. How intern- "X. il I snt r""wa5' employees can permit the legislative representatives of their broth erhoods to ask for such legislation ws cannot understand. It ought to be op H 14 1 4 4 244 244 1014 1014i 4 151 .151 3 441 244' 14 nono,. tin Am Writ !'.'. 1000 . Il! Armour 4'$s VIOII ,1 4(100 llln I'nrn M lOOO 112 Mf,ooo , 4 savor Cal 1st Ss ,i:rleev4ser I) 17000 I III) I I0O0 )4li IJijriH-ol 00 Ituit&Manadj Par Tel 4Tf I Sa ail '4 14000 . II I "3 lilt ti I I.I -nno posed by the travelling public and by I mhIS.,.P I . ilnsCoesCiipcv Prima 4Msi all classes of the shipping public. The a i i ev 4. , iki ,X.i0.1Sa greatest factor which has enabled the noon . .04a4 inoo' . 1 1) I ta'a-noo 10:14 railways of the United States to haul AT ASK sen n; won . I o I "in penna 4s lis thSCaoP';o,rMnwne Siha' 1 ' ' ' " ways In the world while paying the, ,-.000. ... 1 13 tola tooo lot highest wages In the world has been sooo.. .ihAm1 Moo. 00 IP Lnrlllarrt 5s their stieeeas In I no re a Inr their fre eht 4(n.J0. Plla 1000. ..PHOs :ool lull train loads. To limit the sIms of their train loads would be to strike the mo deadly blow possible t the efficiency and economy of their operation." 102 102s. 1014 10 14 1 1204 1204 1204,1204 4" 223 225 2234 2234 4 16 , 16 16 16 14 78 4 79 4 784 79i; 4- 26'ii 237a 2BT. a jnoo. . .11 ia4 Interb It T ref Public SerCorp ATA.Sl'ailM., Ss lS I ofVJ&s itampea itsio. ! 10011 i4 iooo H2 AtCnast I.lne ts leoo (1OI3 IIIFIO, 'III soon tono r,oon 10000 254 254 1 964 954; 974 100 100 274 29 674 684 4 654 1034 32 S7T4 1284I1284 ; 174 18 60 I 60 1564.1664 1 ' n it' 664 684 4 644 1034 814 874 95 974 100 274 664 684 4 C44 1034 314 874 1284 44 174 60 166 Si 344 334 414 414 41 1154 116', lift. 104 104 104 2S4' 2S 864 ! 86 214 21 354 334 ts 95 974 !84' 86 21 354 100 29 664 684 4 644 1034 814 87 128 44 17 60 1564 334 41 1164 104 28 86 21 354 - 4 -f 1H 4 4 4 4 4 4 14 '4 " 4 IrOOO H4fVo IOOO. HO 1000.. .8 4.l41J'apanese4i4sJd 000 S4tn IOOO. 7 8)4 Kooo... sf jap4Mterm'n uau eunio 3'4si .tampea 1174 1174 1174U74 94, 94, 94i 94' 45 1 454' 45 1 4541 144 144 144 144, 29 4 294 ' 294 294 112 112 112 112 84' S4l s I 8 ( 21 214 214 214 35 4 354 ' 344 3441 24 24 24 ; 24 . 94 93 944 93 ! 192 192 190 190 , 107 107 107 107 ,139 1394 139 11394 I 934 934 914' 92 94' 94 U4! 9 1154;iI6 1154 115 4. 1 - -r 604 604 60 50 93 93, 93 I 984 95 95 95 1 95 103 103 103 103 V.. lf.l. R.pM.. 42nlrf. " lllrfk MU1.I mIII.I 11.. ' ' Th. ..tflnp. itf Ik. Tlantr of nermav. lOOo! . HHlo' MOO T47m as described In the fortnightly letter of f A4 i.lI,'iIoo' the London County and Weetmlnster I ooo', ...84 tjilowa Cent 1st Rank. Ltd.. shows a deficiency of 1124.- I 4000 . H4.ia! .1000. HA 000.000 In rold sitodIt below the amount H'a7spne t - . . - rnim of note.s In circulation. 'The excellent figure of 114,800.105 excess gold after the redemption of ail notes In circulation Se shown by rhs Bank of England," continues, the letter. "When one compares) this excellent po sition of the finances) of thie country with the situation of the Imperial Bank of Germany there no longer any rea son for surprise .t the German ex change showing a depreciation of some 10 tier cent In unite of the fact that Germany has sold large amounte of se- I 20000 cunties rccroao, "R has been stated that the gold ant from Germany to neutral countries has been Autrlan and not German gold. This Is highly elgnincant In view of the fact that Austria publishes no bank re turn. It would therefore be quite easy for the gold cover of Austria to be uti lised by Germany. It Is ao mti'iewmig to note trait (I7?sl ''OOO 8"'s flH Ity Steel Spr .,s 1177s t!2l (IS I .',000 BO 13 The strength of tertlnc exchange yes terday led to rumors that a. credit of $25,000,000 had been established here for the account of tha British Govern ment. A partner In a large private banking house which haa other credits for the Allies said that if a credit were established at this time it would be for an amount In excess of I26,00,00P, which he characterised as a "drop in the bucket." In another quarter It waa said that a credit of at leant $100,000, 000 probably would be established here, but not while sterling exchange ws .on THE COPPER MARKET. lalet t Firm All aott F.trr. trolytlc at 14. Ceats. The copper metal market was ten erally quJet yesterday, but the tons waa firm, with all Interests quotlna 14 oents for electrolytic. There u j aome buying reported for both domesM I and foreign ancount. It la bllvM I that there Is a considerable amount ef ' foreign business awaiting more fanna . bis shipping conditions. I There has been no second hand al ing under the quotation of the lrt interest or iate. THE CURB MARKET. Prioeai moved uncertainly In the eii-l? curb dealings yesterday and trading waa on a small ecale. Final quotations ch. played little change except In the ctl group, which was rather weak. World Film and KeJlyBpringfleM Tr. lm proved fractionally, but otherwise Indus trials sagged. Oil stocks reOecteil mm large loeeee on comparatively light sell Ing. Standard Oil of Indian fell to Ml, but mibseaUently recovered to 405, cJtt. Ing at a lorn of 9 points. New Terr. . (i.ttj r n..M i. lni..iM t.( ll..1ln. wm a.... nMoAiinnbl vaatarrlnT bT th. IntSr lorn.. 4 eoiirustvis inon 's 1 natti.nnl Itanktng Corporation, 'mat m- r.000 .oSu 1 stltutlon now has about $60.000 on ths Mor;OT..nalH snv to this country, and It Is underatood ".'?,i&H'o.,0lthat engagements have been mode, in- r.OOO. . If ! I a I .. . . , . . , M. m i H rrw r,r a- iron M Is I eluding tni-s impmraii. .y.v.i.,-..,.. . 1 . 1 .1 U , y u y , ii in eai.iiu.. ' Int above 4 SO. I Transit declined 20 points and ArhurJr goia irom jvii iienmng lost u iwints. Home of th Further Imports of r.ooo no7 lnoo. . .0 1 Deth.Sterl ex I tcoo,.,.nHi Beth Stl fdr &s 10OO... RR JO30..B7fs, fliJOO.. I4H Dkn Dap Tr Cs tats tooo.. oriTH the war chest at Spandau, said to con- ;ooo 7 a trtiirtO 74Sr MnosM 7ft LarVSll Ss IKJ 1000, ..ao Lerlede fjss (1 TOO.I 10 1 LSAMS4SIK3I 4noo... tto I, Mi AM So JH reelstered sooo 8 a enoo.. n nil Lhirh vai 414a linn i n ri ii roou 111 114 tamped 1000 1 O 1 Is Ichmi. 1 oonl -000 1 o I DVn tn Oas in.l.liriftl 4 M 7s 1 now .iooo 1 mis ooo isaisirrooo Cal Om a r t :o,K- I 2ala 1000 HMs70..falj'1.1lirett & M W 30)i) 8 1 Cen leather Is IOOO..IOOt Fot'setflc ref 4s raiOO 0 8.14 Lou A Naah 4s jpooo . 8 4 ::ctto m s. rooo. n 1 1 lnmoo. 4 Cent Paclf.e lt, aooo Pit,, tooo . .841. 3;rTXM.,8Hl3 so.vsM..O)l4 fPse Hf ter 4 UUiSI einil OW . Minn IOOO. , ,, 1113 IOOO ...lit) 5U. A SP am Us MIOOsSO. .PO.I. r,ooo ,100 Seaboard AL 4a atanped IOOO . .82lQ feabd A I. ad 400(1 it 1 i:noo iinia ooo. ...n t KnellT AT t tOOO .. U7.14 So Paeiae ct (a soon . .0034 I .linn, 7 1000 nt7. ion s . .nqii ."'o I'aclllc cv4s -inni n 1 "m 110.000.000 and $12,600,000 goia naa been imported by trrls one Institution a lcm. from Japan slnoe the outbreak of the war. Japan. It appears, 1 now buy ing In American markets practically everything which she formerly bought in Germany. Japan la also gernngr lower price for her sllka this year, which helps to swing the balance of trade against her. Foreign exchange rates were gener ally firmer yesterday. 1re exchange was at 5.81, as compared with 6.80. De mand sterling closed at 4.81, with cables o. a. Mai. vrjva were higher at 6.2.4 . b ft for checks and 6.2S 4 for cables. Marks .81 closed at 82 for sight drafts and 124 i9'A for cables, while kronen advanced to 15,70 lower priced mining Issues were higher The western Paclflo 6s moved tip a, and ths New York State 44e smt steady at 1084. Trarwactlona In detail on hs saaitatt yeMterdar were as follosrat 4 nin rinsannnn .lin.. nf mniA i ioiiM. 8nl?' .Iiykm r t Si Inono 70.1. wa, transferred to the Relchsbank In ,1 01 order to swell the gold held by that In- .tooo.. 8ri3 Mlas A St 1,4. iooo... 087. stltutlon. A short time ago tfcs lead- l.'t:aM 8HI3 ;mn ;-jia stard Stlll'r Cs k Herman nsmmMNS published noe- MnKanaiex 4S IOOO M ...I .U.. ,,...ih fk. rnil.u nnl 2"24'llS"l , ? M rar III I.. i.M-....n ..." ' iniivnj u.14 xioKanaTexzii mooo to hoard go.l and even pointing out ' fmKM..8nf loco. .18 that It was necessary to send Jewelry and articles of gold Sn order to In- 1 i creoee the holding of yellow metal at i the central Institution. It Is superfluous 24 to compare the.e frantic efforts of Ger many to ooiam gwi wiui iim iKTrmai situation that has all along existed In Great Britain." 194 124' 664 ' 79 J 66 4 ' 11H 0 S4 37 124 664; 79 55' US 194. 194 84 84 30 364, 12 12 ' 564 664 79 79 554 ! 65 IIS 118 134413441334 1334 20 20 20 I 20 93 93 93 93 112 112 112 '112 J 66 ' 66 66 , 66 554' 654 524 624 28 2SU. 27 4 2s t S84 , 69 6SH, 684 27 4 274 ' 26- 27 ! I f.5, 6.".! 65'4 6541 , 194' 204' 194 204, 112 112 ,1114 1114 ins. iu"i ii' luva 4 1 4 4 4 4 4 14 V 14 34 4 s. I. I 12 ' 80 30 I 124 124 60 , 50 'l2141214 53 64 107 107 124 124 83 '83 49 ' 49 251' 25 ;' loi4'ioi4 1004 10114 103 103 101 101 20 4 20 4 20 4 20! 1044 1054,1044 1034, 9 12 30 ' 50 1204,1204 63 63 107 ,107 ' 124 124 82Ul 82 4, 48' 4SU, 20 91 20 91 I 20 91 1514 1514'1614 1314 17 1 17&.I.17 17i 194j 194 1 194. 194 76 I 76, 754 75' 1444 1444 143 1434 84 84 ! 84 SI ' !4, 14 141 14 124 124 12 1 324 324 32 254 25 234 1 1064 ,106 106 1064 ' 83); 831 S3 ! 83 1 lf.l. 15 1514 15; 484' 44 474( 4'7 2 4 4 14 4 4 4 4 4-" 1, 4 1 4 4 4 "4 4 4 4 4 ti.Ma Third Av adt lis iWKJ .Hli 14 II 4'JS 14000 r U rofotM 8i4 ;nooo 7:1 .i:jwi .8014 Sni.M 8.1 Mo Pacific con ISooo 807H loci sp r.ooo. nn.i4 inoen sin, Chr A O 4ij Mo Pac cv f.a Toledo P AtV 4a IOOO . HI! IOOO 4 71a to i'. lift CAOcv4i4 'Mo Paciae 4t TolStbAW4 rKSHI .i;3 2r.ni. . AH 1 IOOO H Oaaraaty Clatai Dlaes. About 860 members of the Guaranty Club, which la composed of officers and clerks of the Guaranty Trust Company, 1 Chi IA 111 4s 1000 S4i4 inoo mi held their fourth annual banquet last nltht at the Park Avenue Hotel. Frnncls S. Hutchtns, Kdward' J. Cattell. city statistician of Philadelphia, ami Wllflam de Drafft. secretary of the Baldwin Lo comotive Works, were the speakers. II It Wohlers, president "of th club, was toastmaater. 10000 7:1 1 f.000 cn A 0 Joint 4s sooo iooo . iift. rioo TWIO Oftlai iooo ;ooo .. pftftsi lo-Ki f,04l Rftl9' tooo iooo. . II ft.'H. Ment Power Sa fnlnnPae cv 4s CM MAC gm 4 IOOO fllll.V)00. 881a I'vu . .i aiorri.ir.s as .nno mm IOOO 04 NVAtrHrkrvP.. PnllllVan I M e CMPAQ Ill.lsB IOOO 0 1 IOOO 4I7N HMii m Un Y On deb Us loon .47 woo. 8 I 7a nhenls.ued CS ItealtyA! 5a CMMIIAStPaul trrooo 101 14, WOO 7 1 ' A .V WCentraia's t' S Steel st te fcooo I OU7s irooo . sola .1000 IDOI, ID'I V(-hI AS!!. H i..U 1 ()(I1R C M A stl'cv.is sooo ov , ;oon 1(1014 rctsiuiiii , 1000 0'i4 soon. . 1 not. QUOTATIONS BILL KTLLE1. Hteck Ix change Pleased by A diem Taken In CaBectteat. ft,. RiocV Pxohange announced terday that it had received word that the Joint committee In charge of Hen-' ator Hewitt's bill Introduced tn the Con necticut LeglsUture had unanimously declined to report the measure. This bill sought to compel ths Western Union Telegraph Company to furnish New York Stock Kxchsnge quotations to Appli cants not approved by the exchange. . . . a . ai il. Ala. If aitVi.tiH 4 814 IOOO 4 713 1 Tflf aUUlonilM 01 inr eiua '"""' m TN-inyH&i. m opposed ine om on "i" " 4 81 3 woo ii un it werft p,!,ea they would be power 4 8.T, r" I less to prevent quotations from getting .'.'.J ?.3',.- h.nda iwVi la bucket 4n vmtt ',.4.14 i jii.u ii.i.'iv"-t unops. The exohange gave ont a statement expressing gratlflcaitloTi over the action taken cn the Mil. PUBLIC UTTLTTIES. 7SOOO 1 OON'N'Y fltv 41. sf.4 .15000 1 Oil i(10l lOUHj 4000 !ON. 70HOs31 11117a Jnooi) lOON sooo . nnio Mom) loo jooo ion.lt rooo . .tuia, id.n cloois .ntoii ioon .'iooo (inN mioo loo aoooo ioi)34 sooo titiij iooo. tools 45 69 47, 93 27 4 274 ' 264 1324. 132411324 45 69 43 93 43 69 47 93 45 69 ! 474' 93 26 1324' 13 1 49 60 1H 13 13 60 4 4 9 4 60 ! CO 5 15 5 11811S 111 79 4 i 794 10 I 10 26 1 274' 104' 104 3i ; 34 ; 6574' 554 13 60 60 5 HS'l 794 794' 10 10 ' 26 2741 . 1041 104 J 34 34 . 6rt 66 ! .'102'102 102 102 .' 434' 44 43 43 105 105 1044104 4 1 4 34 'l4 January gr earnlni" of 1701. 3T, .n In cr-a. 01 fiua,ebx. or t... pr c-ni up eratlnc exien.ea amnimtM to $ai,?!0, an Increase f K p-r cent, and operating ratio a "1 lar cent. The company re cently entered Into , ne rate agreement wltft the etty, by which th rate tor com merclat lighting Is reduced from t: to 10 cent" per kilowatt horse. pow-r The ret Identlal llshtlnt rata wm a'.ao Jowe red. It 1. not nl!eved. ho'evar, thai the reduc tions will be detrimental to ernlncs. De troit has b-.n proep.rinc from Kurop.an war order. tiT motor vehicles and the other tnduetrle of th city, eueh it ehlp. building n.l eteel manufaeturlnc, afford a lorire field for the Det-nit lllson Com pany'! current. All Byfieirtiy e?trlo xiropertle. report Inr for the neev endl rbmary IS .li(rwe.t el-t-trlc net connected load rain. CMAM'rm4'i -ooo HA ;o(i .mi iooo 1 OOIa .W (ias Klec I.t Va Caro C 1st C&.NWem&a . It A l4 i :ooo tlOla rerllniatrs ! ttoioi sn iVslttr.-Ss 10DH.I 1 ij.,T N v I. r A West rnou .Klla CANWStl.l'en Docke ,Whah 1.1 A n v :,s . iooo .10:1 1 :ioni un 1000 1 04l4l.VMIAIIevsl .KiO . 09 CANW deb 1SB1 soon, ion IWnbssh ?d 10OO. .11)1 INV Ml A II ct; IOOO . 88 Cht ItlAPHU 4s 3ts Wabash ext 4 CenlYctf ICasi . fin IOoihi v;j inoo !ills. iooo oii ' laiTrctfastd iooo ifj x v Itvs adl Ss 1000 ao 000 a I 7.I aooo . aniq Western Klec (s ChlHIAIMtyis SAWgmls loon lull :ooo ...14 1000 . 7 11 11.10 lot Chi HIAPrrMs NY Tel fm 4'i VV A l's 1st 8IOOO. Hft:i4 IOOOO, oft I 1000 I (1 1 1 4 111)00.. II1II3 NorAVcv44 r! Cnlon Ss 100011 ...1I1IS4IK10011 101 aooo 1111.14 ChlMI.A NO Norfolk A W 4l Westt Kl cv Ss ivon .i.n. 1 iisio . 111.3 inoo lllll. THE STEEL MARKET. Demand for Tin Plate Is Heavy. a Wire Demand for steel product snowa no change from day to day, and business 1 booked during this week may fall be- . low that of the first week of February. Demand In some lines Is heavy, such 1 as tin plate nnd wire, but other heavier products are less active. Tin plate mills In the Pittsburg dis trict are operating ut about 9 r cent, of caio!ty, but the average pro duction for all 'lines Is only about 60 per cent.. Harller In the year con sumers bought rather freely In order . to take advantage of the low prices which wer then ruling, but they have 1 VLfttti III! f nrl'nnf ton tn in MO at ' the advanced prices. Mas. Ing. est. est. k 7At3rita tl a n e ass Brsdsn Copper 9 9 4 it. no BrtVAra Tob era. 1IH HH tTU fti SO Canada Copper. 1 1 tads i&.:i WOOoas WevOtah.- st A H V, 50 Cam Art .one si H a H lsao "C D Cot.... tit ft. 1 mo Tlorene. 7 rf ft p (00 Oeldfltld Om;... IS t lMl4i 47ce OeldneM Merrer.. a 54 IH US lot Halifax Tonopah K M u 11 10 Inter Merc M ctf IS 14 1H i, Y Inter M M pf ctf. 44 4Vj 41 ti, 400 lnt.r Jlln M 3 3 2 E700 Jumbo Erten. .. 70 TI tt UE KeUy Bprtcg TlreJti 114 llSSj 11'', MX) Kswaoa .. II ItV, il I" 1100 Lone Star till 9M Mine Co of Am. .51- Jt.ll 31tt: il 1144 McKla D Bar M it V , II lf Nat Cloak A S.. C4 HH VTA UU, 100 N T Ttanrp IS IS ' 4500 Oro 14 IS fi IUker-Her. Corp. tV, 44 IS . 60 Rlker-ller. w.. 4 44 4 i'S ano Stand lrer Lea l'i IU 14 '. Stewart . 1 1 II U la Ifc 4 Sterling Cura.. .. 34 14 a P. 1M Tononah Mcrr .. M 11 II 11 9)0 Ton Mln of Ner 7 7 iooo Tularesa . .. t U S-n t n f !l sn Un C".r Stor new. I y Vn Profit 8h.. ..IMtta.is is ts SW Weax Knd Con.... II M CI I: 4M0 Wert End Erten. 4 i 'i 000 World lllra ta Pi 44 l lono Yakoa Ooll. .. t'i IS 4 S 8 T AND. Alt D on. stnwmiAiujts 40 AngbvArnw 144 14; 1 I Atlantic Reflralng. W IK w 1 Hame-Scrymesr 3M 34 S" i Buckey. Pipe I... .. 101 P'l t'l nilnois Ploe IJr.e- 1 1M in 10 In.11ana P!re Lin. 97 n r 1 National Transit. .. SI t" V. US T Transit n6 V e m Ohio on 13: ri 115 J-.erce oil new 144 -4 -.4 S Pral.-ls O A O rt 1 T. Pralrl. P L w 1 . .. 147 14T ' I Sonthem PL roi It ' 45 Stand Oil of Cal.. .. iH f" "s ITS Stand Oil of Ind . .. 417 .t, i" tn Stand Oil of N J .. f0 VC !l" 17 Slaed Oil of N T . 1 111 t :4 Vacuum Oil.. . Mi BOM1J I'.oos jt t cut rt. . H s: n s: '. : tivo N T ft 4V;s w I .11.14 1011, ics . S3..m tvejlera Paeifleta a.4 tr, 'J5', "S1I s cola per snare CURB STOCKS CLOSING. DAIRY PRODUCTS MARKET. of 141 customer, with 4S kilowatt Uxhf irsi I'MAD 5sl 1000 Ilia. t;noo 0(1 louiiu iiiu .nrinracinc 4s. ioon . in... 1 -noo 811.14' :ooo po Tran.aetlons from !:4.1 r. M. to Closing, log load and 34 hore-.poiier In motors New buefne. oontrcie.l for IneluJed i'is i.tomere. with IC' kllowTittn llghtlnK load nnd 4 hor-iKTer In motne.. iju' put of ths electric properties for th. week showel an lnrrea. of XT per cent ovr tha corresponding we.k of 1514. Manu factured gas output Increased I per cent. In th'lr AT A KF gen 4l .1000 . im llaltAO gold 44 Mil 10 8SN n a ocv 44s 11000. 8 47b IftOOrt, 8ft lntrrboro Met S V A .V I is roltrut4i4s ooo 100 1 4 7000 7 A iSeabd A 1. adl Japl jsOerm'n' looiMi . ill Hamped So llellT AT ixiKM 7ft 1 won 11734 Mllw lias 1st is So Pacific cv ! 7,000,000 Montreal ' halt AOhloS'js rooo twi3;nono . iiiia4 (Company two year' :ooo io7nMoKAT f 4',s arn.i s..().)a4 nt note" Uu Apr., run Hap Tr 4s ikh 7a So Pacific c 4s I'ott-r. ODoats A Identic public offering of 17, TranrwRi. and Power (' Alt.l.ral fm.f 4 r i.nl na.lM .lua A.iri 1, 1917, state trial tney win pay on Apri V'i' '"'.' ' ., ?' I next 100S f.t ex-ciejpon to hold-rs of, ljt , ilis So ith PaclOcss the Montr-al Tramw.ye and Power Com. JO' ?,"' ) '1'' tl1?," ,110,. puny notes maturing on that date, tn ax. C Q cr 4it K.io . I l j S.Padflc ref 4s change f.r a like amount of the new note '"0 . ; l',i,.,.,y, d.U" 1.4n?; HAXh at JS.. and lntere.t. This offer la rade C It A 0 Joint 4s' 4000 1 . ftltN '0.84 terminable win,ou notle-. and holder, of W?. n , O.IJVi 'oY,St th. maturlr.g note, de.lrlnr to Mi. "l- ChUlAO in M. f.rtKM I I . .Jh IWO p.,, vantage of ths offar ar. reueted to notify -lj';1 ,n.:?'1, "",KS?. ' "''a the bankers Immediately . Chi A F.at 111 is 10O00 1 IIOI j Teias Co cv es tne nanaers immeuiatei) ftnno Nnrfolk ft V jnon nH:t I CM AStPcvSs 1000.. II ia4 r s Steel it is Alexander Ilro-wn & Sons announce tn.t ' rets full pd NonhPaclflc 4s loon lOOI. they wJll receive mrbecrlptlona for t:.-,1110oo 10O7hI 4000 (Mil. toon .IOOI4 iOO.000 cvnoltdateJ (la. Hlectrtc Light I CM Ky lat Sa 1 .') . POIs Va Caro C tt umi Power Company of Ils;tlmor i per, aooo 11 (II4 NnrthPaelBe 3. Jooii ill cent. to yir convertible notes nt S and iCleeSh I.i4 limn?), iln 1VnMsryld4s arcru.l Interest. e.t uhlch prl' e they vleld sooo ,,ny sooo (Kl I sooo mi sllfhtlv oier 4 per cent. Payment 1 to , Detiolt t'n 44i 4(vm?0 i);tl .ViM...(Hl be made In firtJ In Ilaltlmora or New York 30OO 7 a '.Ont Power is aooo, ,n funds on .March 23. 115. .ubrlptIoin innonaiopcT .uihi 11 ..1 , rs ist I 62 it. 20 63 20 85 1 85 69 I 69 mv;' 20 I 63UI . 984 .! 97 614 20 I sr. ' 8 ; 194 t;:i ! 994 1 9 84' 97 1 97 I 51 20 85 68 20 63 994 97 wilt be close.1 at noon, March S, or earll-r at th" dlerretlon of the hankers. 8tock ho'ders of record March 10 who, .lib. srrlptlons are p.M.tmarke.1 not later than March 1" will receive Hllotinent. of 1100 for every alx .hare, of etock held, not withstanding any oier-aulncrlptlnn for the I The notes nr. convertible nnv time in 1 to liecemt-er li, 1116. Into common stock of tli. company at 1113 a ehar. They 1 are to b. dated March II, 1913, and will be ln.ued In 1100. 11.00 and 11,000 denom inations. The notes ar subject to redemp- I Hon In any amount at par on thirty rfas notice, and rJrht to convert wl.l ceae on culled notes tl e .lays before the data of redemption. Harnlnms of th. company last flensl year oer and aliove oter.itlng expenses nnd H"'l charge. wr. tl,4S.Ssr., nearlv Ss 1073 Or Shi, fde 4s I 1000 .10 SOOn .101 1, tooo 110 IWestc Ml cv Ss 101 IStt. A Iron M 4ai too.).. 0 0 1000 PPIs 4000 lift Total bond sales (par value) 12. ft da, OOO PUBLIC UITLITY SECURITIES. toelv times th. Interest requirements on the not. Issue SHORT TERM NOTES. Total tttlrsi to-day, 176,845 Hhare Same, day 1914, 329,131, Jnnuary 1 to date, 10,214,720. Same period 1914. 17,204,299. Whero a "c" follows a quotation It Itidlcntee n bid or cffo.r for 10 flharea. American Oas Company.. . American Light A Traction... American Light A Traction pf.. Adirondack nirctrtc Power Adirondack ltlectrtc Power pf,. American (Jas A Hlectrlc.,, Ararrlran Oaa A Hlcctrlc pf American Power A Light Amrrlcan Power A I.lcht pf American Public I'tllltles.. . . American Public I'tllltles pf American Waterworks A KIcctrlo.. I American Watetw orks partlclp'g pf American Wnterwirl.s 1st pf .. . . Cities Service. Cities Service pf Colorado Power Company,. Colorado Power Company pf, Hid, Asked, 100 101 BID AND ASKED PRICES. Closing prices of stocks In which there were no tranact!ons je.st.'tda.v: ti 44 Pefidt jO.'..n KS5.703 HT.IW.JTI Reflrils from customs March S. 1T.T. Sit' from Internal rerenije. ordinary, S414.C47 : cur. v., , ' " 141 -J "nl1 iniswiianeoiis, National bank rote rrcrlTrd for redemp- Hon. $: mini Tin- 1 ssli statement of th. United States j reaaurcr lor .nrin 3 snnna oi:nkkm, riiNn. O'i'd coin I7I.3134C 4 .I.I lenfl'Mtes SMlaroi eiiwr l.llli.ll" 17,34U'l tiipr ii-niii-'fiiea 17 Mi;i,r. 1 inliil stales notes ti.iitf. 41 Ccrtiiiiil ilieclis on banks. ,, 43L-.f.T1 N.llnli.il bunk laite, 70,JS7,5W Sub.'ili.trv .liver, minor cotn and sdver tiiillioii 82,11270 Cash m Ticisiiry IM.3T3.e55 In nation. biuik. r.S,T&,i32 Aiallible r.'ieti In Treasury ami bmlis ... iat.isi.wt T.-lu-t mrreiit llabilltie "W,a,7.W Kree balance In Tre.iaiirr and hanks 61,1,"1 OUr Trraatiry a..t. (nl s.Tiiik'i? Nil balance in rem ml lund 4J.;sif.,3Sil HKit;it K '( ND I Hold coin arsl bullion .. Iiu.794.t4t TMJST KlIND, 60 To redeem outandlng crtlflcalM.$l,at,tiL3l Orand total caio aaiets Id Treat- CluPAConnoo 10IJ4 an ,..-., mmmm,i, lam,H1JIl poiyuaWat. 2IH.4 Hid AskeA. AmAsrCh . l'4 4S' AmAL'Chtil H4 ua Ainllrshoe "Tii Amllrsh pfirtj Amlltsu pf n AinCltlespf AlnCnalPr . HOo AmCol' Pi 107o 104'io AlilCntO of Mil 7 Allll.luO pf :s AlllMalt . 5 AlllM.altpf. 7Sl AlllSltf tltll Ainsniiff pfioa Amsupf .lim AinTrlAC.a. r.7' ,' Aim 'oh pf .Ibti'k AmWrPpf 7 AnnArlKir.. AniiArbrpf -A-n'tslteal ArMlM I pf AvsuM 3pf. lllllilKl.llf Hii rliCrrcIt Ri linidrrhnf 07 IlllllMlSllDC - llrounsu pf lliirKAl' , -llutti rli'K . m runs, nub. riH Cltlliif.VJ . cini.pf. .tniH ClilAAIton I'hlA.Mtpf II Ch.MIStPpf ClilANW .ISiar ( lilANW pfKIl I llStl'AOlll I'llSI'AII pf I ICAStl. 33 fill ASI. pf .VI I'levAI'lttS.IIJT ClHVAI'Spl. H ClUrtll'AO. ir, M! .v. ;s r.',' 31 70 105 1111-t i) 107' 4 U VI 71) H M )!. BS14 41) S3 (II .00 37 f. 103 8T, 113 133 133 IN) .'! V Bid. Asked. CnlASouth 33 CnlASo I pf 47 fi)IASi)3lif 37 1 urn rr pr . "1 CrcaCarpi't 4S CuAmSu . in', C11A111S11 pf DI.AW .HO DecicCinit -le.trtl) n D.llAIHIr Denltdrpf, lo Dct A Mack 70 Di'tWI pf Ml DulSSAA... .1 D11ISSA pf 7 Krlc'.'pf 77', Hilktllinll 1330 rrilMo.S . rtVUuthpfllT i;Vlli-lino..ll (iWllllll pf.HU Hit una HnvHtnipf M.arvNJ pf, HsrtCorp si lliuiie.tkM.llilo llni klneV., -IntAirrCnr IntAgrpf . 8 Intl'uiiip.. 4 liitl'unipnf R'J 1njcro.ino7c Inscr-llpf. l)0o luwaCcn n lovinCcn pf 13 .!Kh xrl pfioti JK'M. li pf 771S Ki l stl nf Kiiin ltySii 7114 33 C,3 13 no Ml 7 7 il'4 6 10 IIS 13 till 71 'II I 113 7(1 1 17c 133 13 II 2 a lir, H SO n4 S3 ll.i KcoADVnf .'III ucoi;i.Ap i3i)iici3nt.;c Ijicledcliaa ill lis I.acks'lri'1.. 3sW 3 LKrlrAW... 3 7 X) tlMsU UJAWpf.. 16 UiaiaTOOJOf . Illd. Alked 1 lll.l. Aaked LongTsland :.i 37 iHepuhSt tat, so IU1 llm-kla and M H7'4 ' HlltlleljCo. T, r.4 Hiimlry pf, 3; 77 Stl.ASP . 11? I3S S'tl.ASri pf N M SlI.AS'2pf ju 101 MLSW. . (ft', ! MI.SW pf. M) ; Sears-Hoe 202 inif , Scsrs.HopfiJS 41 8SKrrge..im 13H HnPHMugar S3 77 , SoPltSu (if, Ml limij : SnllvMAl), (l.'o I la Te'ari;r. IW I7U 'l".tt,AW... IU I.orlllanl . 110 Lorlllardpfll 14 I.(wisV2pf. M.ackav.. 7414 MnnhHI,. 133 Manshift... 48 MnliSli pf .tun MnyDt.Strf Metl'i'tpf., 70 MAStl,, . U'i MAS! I, pf . ,'ll MSI'ASMtif MSl'ASMI,, 734 Monti1 lit. lui'i MiiniVVi2 MnrACs ()3 Nt hAStl,.. Vitllls Pf..l3l ut i:.vs ii' i NlitllAS pf. 71. NllyofMlpl3 Mis ufMZp 3 N V,lr Mr VAi NVChASir. NVCASl.'.'p Ill 4 IT 37 303 108 Tie NY LAW NnrSi.ii NurAWpf., RI NurAllirr , US NuiCi iilty . 4 DlltSlilerM. 2 Piibstllrpf. l'ac'IAT . . -Mi I'mTATpf K3o IVttlAM 13 ProiilcxtinMl PidAH.lst., ', I'CCASII,,, AN I'lTAStl.pf I'lltsConl pf I'l'lWAL' IM I'rKti'ar pf, qulrkrllier 1 Qulckt.ll pf. lj. ityoiop pr.. jiaau.i ISO 131 I0'4 ST Id !.H w, ;i." Ml lilt PC. Il34e 131 H I in 3 0'4 IT 1111 II 73 IH h3 l1 DO M Tstl.AWllf 3 'Ct, nl 1.1 (u, t.'nilcriv pK 11', I'lUIAI'pf 32 rni'Mfe iji4 I'l.i'Mlgpf I'lillijf.ds. I'liHryOpf 51 rsliiAIn" 13 I SI11A1 pf.. 7ft I'SI.'M'. Til L'SllralAI . ST Vncarch pf HO 'iloan. Wnba.h., . 14 West Mil pf, 3ft U'cMh I pf.,117 U'cyliruti.ii320 WeyllnitpflM WlierlAI.I:. !U WAI.l; 1 lit. k WAI.I!'.' pf, S WIILlIlt 31lJ 2 H 07 IISI 2H 4P 101 .VI nn 40 l"l 71 i hi 47 111 130 soo UH .1 13 0 34 Int. Senirlty. nate. Pay Due. Did Offer Yield, ATATSO...S A-O Apr. 1.'18 IO0' loo,, 4 M AnCopC.,..3 M-a Mar. 117 (fiS WH SJn DAOHH... ii J-H June i,'6 inoit inoij 3 00 IlethHt. 6 J-I) June 11,'16 10I14 1004 .1.00 Commonwealth Power, Hallway A I. J-J July l.'IR Vi' IS'4 3.04 Commonwealth Power, H A I, pf. J-I1 June 1 .fit a4 " 7 R7 Consumers P Co (Minn) 1st &s 103 M-S Sept l.'IS ino 1004 S.liS Da) ton Power A Ltgot Co., M-NMav 1,'IT B71-4 M .M I Dayton Power A Light Co pf, . . l.'IS toni,,imn 3 no 1 prnvrr t!as A Hlectrlo gen 6a... . l.'IS ion'4 lmij S .3 . Hlectrlc Hond Deposit pf 117 Pt 0'j e. 3S Klrctrlc Hond A Share Co pf,, . l.'IS 100'i 10nl4 s 70 1 1'.mplte District KIcctrlo Ss 1,'IS Wi as 13 M 1 Empire District KIcctrlo pf l.'IS I0ll m'i 4 00J Federal Light A Traction l.'ls 07 ost; (1 so Federal Light A Traction pf. . A-O Apr. A-O Oct. BklynHT. 5 ChrAOHH S ' ChAWIHIt.S Cool-Co,, . KrlrHH... .3 'r.r1.HH.. S ErlellH. V4 A-O Apr. OenItubCo,4'ji J-J July HHAPHCo.5 M-N May HorkVal.. ft LOAElCo.,,9 LSAMHRH. LfiAMmit.S I.SAMSRH.6 Mlnf!EICo.,(1 NENnvCo. fl NYCA1IH..S Nov, J-D Apr, 310 tOT 13 41 '94 4TI, r.3 w 30 K 44 12 43 43 SI 13', ST 14 S3lv 3T S3 St) 43 BSIj TI . Ml IT ft'. . a.'. 1 June 10,'iS 3 30 S.oo bals das A Electric Securities ,. dept. 1,13 100',. 1004, 3,4S;oaai;ieculcSnirltIespf J-D flee. t,'161O)"i,l00H,,s. to ' Great Western Power Co ltt Ss 1P48.. TS J-D Juno 1,'IS P4 IOI a no Lincoln lias A Electric.,, 13 M-N'May 1,'IT 03 034 (is? Northern Ontario Light A Power.. 11 A-O Apr. l.'IS 100',. KO'i 2 10 Northern Ontario Light A rower pf, .'.I 313 101 It 41 01 43 a'. w 33 M a 13 fn 4H IS 13 M t't M 014 33 Dl 33 HO IS Til VU 1.1 Kx dlrldend. Where a "o" follow, a quotation It Indi cates a bid or eft.r tar U aneas, NYCfcllR.,4ii M-N May 1,'ia 1"4 "W 7 Ti , Northern States Power Co., NYCA1IR..S M-S Srpt t3,'15 W lOOS, 3 .VI Niirtliem States Power Co pf. NYCAIIH..6 .A-O Oct. l.'IS 1004 lc4 3 W Ozatk Power A Water 1,'IS t'9 MS 10.S11 paclllc Oiws A Electric 1,'IB 100 10.lt, 3,34 1 paclllo (ias A 1 .Is ctrlo pf 1,'IS !'( tiil'j S SO 1 Hrpubllclo A Light Co . . . 3,'IT tn"tlj B.03 1,'17 10l I0l,, S.3S 1,'IS Ml, lOOV, S (l l.'IT U-t UT, 7,00 NYNHAII..5 MN May PaHHCnV,,'i J-D Oct. SoltyCo... .3 I .SnllyCo... S I UnFrultCo.ft Wei.tl,ow...s WHUAl'.Co.O F-A Feb. Sl-S Mar. M-N May J-J July A-O Oct, SUB-TREASURY STATEMENT. WKDNIS4DAT. raid tar fiub-Treaaurv to banks. Paid by batiks to riub-Treasury IJ.4I8.SOO 3,7111,000 Loaa to banks on days' etlons ., , , trans. It, 724, 000 Ml NCR FIHDAY IAHT. raid by Hub Treasury to banks. IO,83,O0t Paid by banks to Mub.Treisury. 17,437,00") ltom to banks Leas to banks earns ptrlod pr. sin, wiaws m.i.1,.,.1 4C.C04.000 HrpubllcltyA Light Co pf southern California Edison Southern California Edison pf Htnndntd Oas A Eire Standard Oas A Elco pf Tcnnw.cc Hy, Light A 1'owrr. . . Tinnrasrc Hy, l ight A Power pf united i.imil ix nys United Light A Hy- IU pf United Light A Hya 2d pf Utah Scciirltli-e. Writcrn Power WiKtcrn rower pi, par value, 30, 31 NP 4 13 411 S3 l'i A". 71 ll . 4 . 17 . 7 . 33 . 4'. . a; f.tlj . 13 134 .V. SO 711 33 l'i M 1 ;i': I M'ti 20 414 SI 111 r.s Tn n; 64 l 0 37 41 T'l r.T 14 l4 i' I mTI'l.P. --A softer market was nat!r. able yes'.rday and de. Ine. oceurrJ In n-ar'v '! grid". I'ln butt-r In light supp'v. I ut amp.- Undergrade. p.en"ful and n-r'e 'pi S-eruge not wan'el iiti.l ean" H-nohted w-ak lad' o,uiet , pack ing rtork low er Prl'" ('r.inier:' extra, ore, .lie, htrhe- .coring 31 1, J ?.c , tlf'ts, s oil fenre. :Trj3D'- lie d ex'ras. 11. .core. n 27 4 fir"., Cf l Jfr , Slat, dale), tub... tlne.t. :i-tl24c, red to prlnie. ;, iJ7c. .ommon to fair. :oy24c Heiiniatei. extra. j44 SI Sc. Ilrst., ..4 i 23 . ior-r rr.tde.. i'ii;:c Imitation creamry. tlr.., ;2'ti23c. I.aili"., curr.tit mak. ft-pt., :'nU-lc: seconds, le lower grade., 17,1 1U' Parking toek. No : ITdlTSc . 'iwer gradee, 14 f 1 ('IIEIISE --Hu Ing on the part of "i pjr'ers etr-nnthened the ti arket ve..trduy 1 and 4 firm 'one preialle 1 In a grades. Local demand oulet. rnce' He'O spe cial., ITlflTSe average, fano. It'. If I'..- . undergradr., 14Mc. Wl-consln. whaJ" ml'.k. doubl" rlaf.le.. W1tli4c, twl-i 1CI, 1? ICS . . S'a'e. klm, held, special 14 ill'.i poor t fr" d. SJITlc KOUM With heavy re -ipti. of 20 343 case, the market ci a little ea-l-r ye. terday, although "h" tn.-rea..,i demur.! had created a better out et Free eelllng has so stimulated trading that a eteadler feel ing prevail- , '' "!7h ih" m.irkt l etHI seimlttie h-ai'er ar-liai. tr due. but enow in some e-ci'i-n. mav delay -upplles. So llttl" Is ilon.g n refrlgratnrs that quotation ..re nli.indon-d. Naarby eggs more plentiful arid weaker Huek eggs in 1 uca ir siippi atm w.aKr rrice rre.n ! g.Thered etri. .I'.ii.'.'c: e.r.ie. firsts, 1 ', , tlr-is, lsi,iK'"' . seconds, f , I .No, '. clirtle.. Pi . hennery, whites, tine o rinci .(ttuic. nunnery, browns, 22c, mixed col'-rn, 2tMi 2lc . Hiltlinore duck, 'l.lVE lNU'LTRY With light receipts market Is Arm with fowl, ma.la-ately .c- itle t''.il".ra''J- chb'Kens are hard to 111..." oil roo.ters fairly plentiful, but rlow as are nt irs Turkey, unchanged - luck tli 111, i.ee-1". Irregular Prl''ee I Cbt.'kns. H''llTc . fnw s. lie. o.d ro...-.r. 11114.- Dii.ka, Western I 30' . g "e... M'estern. 134 i 14c (illlriea., a u'r M' i. (.0. iU,ntik, li.40c i IHtll'teEI) rul'l.THV Fioen movement . tti.i.l. ri., but iiijiti'v in enia'.l ots. 1 Fre.)! kdle.i -urlceya nmlnlv poor, lesuPing lln a weak nnd Irregular uiarke Stsggy 1 ' hi. kens move slowl Fre-li kl.Ied f.w'.s In itKlit sutiply and slow d inund 8m , Dim we.ihr mil roomer, in gii supi and ii nil M.i.tis more rreeij onir-d. til" luarkei lower. I'llces T irkey. ijry picaeu. M-Kiern rancy. 21 T -l sc : aier age. lie.l . ID II . 'lenne.frea and Kell- tuiky, isrisc. Tevo., Is. 1 19c Chickens, milk fed, mlei mcIkIH., ltl'iillc, broil ers. Philadelphia, fancj, 23'i2lr. Ml.hl gill, .c.tlde.1 4 lbs.. 14c, I'apons, Plitla ilelphla, lb" and over, S4Ji;'c I it 1 lb. each. :;t:3, slip.. Pi'.; Western, ' to C'j lb.. It'll 20e Fowls. 12 to tail, Western. CO lb'. II lid nier to doren, arr picked. IT 4c 3 lb Hii.l oer. 1 r. 1 I roosters, 13'j'fllC Sqllllis. prime, nil", 10 lli. to Uoen, 4 H,., 13 i., I37i. lark. 1 1 .'ilfi 1 1 Tft. Oulnea. spring. 3 lbs nnd ner. p.llr. 1.0 , e . Turkeis, frnteii, tlra PI. k. d. . 'eci.-d. . .' . Western, V Ii . Texas. I Sc. Ili.lier. im.li f,l 15 tu 24 lbs, ;jc , corn fid. I in -4 lis. 2:1 j nirall-. Ill mix. I1I1IK I"'l. .11 10 III. , 13c i 4 Ih. and mer, ;i)..ti corn fed, 31 to 30 ll.s, ITtflT'-c . Hi. and over l?c. For Is, I.' to )u. eO Hi. and 01 er to rtoten. 14. . 30 to .r. (in. , u i! t:,v,c Ducks, Long Is and. Hilfc . Western. ITc. f.-., fain t , He. Bid. Asked. lltd.A.'4-d . Braoen Cop.. s'i AS '' British Am Tob Ord. 17), 1T4, IT', ' -t Jumbo Extension... Tft ts .it Kerr Lake.. . 44 4" 4i S LeRoae "i, S " Lehigh Valley Coal. .IM 1'3 tSft 1 Manhattan TTanilt . t, . Marconi ot Ara. . 34' Hi 3S . National Cloak A ,MIt S3 S4 ct s. I Nat Cloak A Suit pf- . S 0T 03 f . Nlpl-slng Mine... , 64 34 ts , ' Tobacco Prod pf. . 01 03 91 o ; United Clg S new. .0 04 a . , Yukon Oold Vi 3i 34 BONDS. I Braden Copper as.. 1334 1404 143 it 1 NYCentral its 'i i I NYStste44wl, 1031s IMS 1034 inr '1 1 Western ractflo 6s 204 304 2a STANDARD OIL QUOTATIONS. Pollowtng ar. the quotation, for th. fttandant Oil -rtockat Yesterday. U'cdnesilsi Par. Hid. Asked Bid Ai.fi Atlantic Hef Co lion S3S Pome-Serrtn Co. 100 240 tn 107 if ess 100 w Buckeye Pipe T, Ch- icbrouja Mf. Colonial Oil Co . ConttnenOUCo.., 100 230 ip y v .1 Fi Crescent Pipe L.. M 31 Cumberland P I. I'M 47 Eurrlta Pipe L.. too 213 CialenaSleOll.. ton iss Oalena Signal pf. to) 13'. Illinois Pipe I, . I'i 13T Indians Pipe I, M 03 NatlonalTran.lt. 2S 3) N Y Transit 100 19T Northern Pipe L.. 100 Ohio Oil Co . 3S 130 Pierre Oil. new 33 134 Prairie Oil A Gas. 10.1 220 Prairie pipe. im 14 1 Solar Ilef Co, tr) 224 .So-ithern Pipe L, 10) Ml South Pcnn Oil. . 100 733 Southwest Penn.. too 111 Stand Oil of Cal... W 2i) Stand Oil ot Ind.. 101 31 '. Stand Oil of Kan. 1C1 "id Stand OII of Ky . to 250 Stand OII of Neb, pi) 313 Stand Oil of NY Ml 101 Stand Oil ct Ohio 1ft) tu, Swan A Finch Co. to) r.n Union Tank Line. 10) l Vacuum Oil Co. too l3 Washington Oil.. 10 S3 Antlo-AsnOllCo. 1 134 Stand Oil of N J.. - as- Subsld -en bloc". t'o a.O old "all on"... 1211 Ex dividend. 64 S 2S0 Km A70 inn 2" 4.) :e 7?.'. I '-3 140 im 94 31 '.'0. a: 113 114 Kl IIS 2V1 31" '.'.vi 114 Vd'i i40 240 tn- 6.V1 w 330 SS -3 r-s In', SVi V'.l 33.'i 19". 420 Ul S l.ft 37 144 301 31 i:.s IV, 124 1. 31 21'. e. l'i 1" , Va.' 41 ' 3.1 2S" 31' tt 41 IV. St 11 I, lap stnclii SlnrUet. RAILWAY EQUIPMENT BOM" (Tli following are quoted on a p bas'i Name. Mutilt'tv TUte 11 TlU'HSri.W. March 4 He. eip.. uf l-.i'es ere 1,.'..2 head, ni.ln.y 1 ..' M iubIi. 'r-T.. No steers of fere 1 lm 1. ..ml I OH- e.lld II! Just hl.O'l Hieu.ly jirb es, iru'liidiiic nmmioii lo good cow. at l.i '.ii utr. T3 jier Hi" ,i . 111 -.1 lu n bills at J.;". liicKkcl l.evf in nuNl-r.i'e neinaO'i. wiiii .wiimoti to .-nol Sl'lee ai' lllic at 101 13 per lb. (ii t'lin- Hi i-.tlte ..,. i , n.aj. In- I . eluding VJ lie.td for the tti.irkrL Th 1 atlantlr Coast Line . 1.111 21 Hnitl-nnre A Ohio . !"i4 31 HultAlo.Hoch. A Pitts I9H l'i Canadian Pacific , 19' a 3s Chcnpritlic A Ohio 191 1 17 Chlcacn A Notthw'ii IDII 73 name I Chlciis", 1ml A Louis. mi I 2.1 Chicago. St LAN (I. I'll.'. .1 C. C A St Louts I ''.'. Tt 4 14 4 i I' j New City .Voles. Kceur. Int. ity. Hntr. Pay. Due. Illil. Offer Yield. l7.Y.CIty,.ft M-H Sept. 1,'tJ I0isaini,, 3,04 N.Y,C4ty..8 M-H Sept. l.'lft 103S 103i 4.0ft N. y. ouyM u-u am. i,'it uM vh a,n fi'i'lllig was It nil. with I'Oliiinnli . chol ie.., ei'lllni: in In 4 (13.'. pr 100 His, ciil'a ..t IT. ll.irinar.l calves .nd (nr. ling, were entlnlj H"iiiliisl t'li' dr..d M-..1. were sl.... In- fir . a( .Cirlo'ji. per 11. . .'oiintrv dreei a! l.Ui lij.,.' lie. elnta of elleep uli.i 1 mil,, wete 1,404 h"'ld, .ill fur el Ulk'lltiTel . Tiler, wo,, in, trading for Ink of utTer.ng.. but tli" fer. lug whs linn for .ill i-iiriM nid gra Ir. Dr. Bird immoM In fa'i , r ,.1.1 n.l t in 1( t.l, pir ' i, . !..l' f 1 r-lln-i nl 1 Si dreiseil liini'n .'ml but tie i, ,i HSMl with a few .iiir dr . I ,, icillug qn. Hon' (iiuiin'v ilreoe i hu'h iu." aniiis sleuiis nt s'iia per carcass He elpta uf nm n. -c l ghS lie nl a for slaughter The feeling; was tea v tor al' weights. Couiitr1- ilreaied hogs wer. lower at IMDSc. for awdlum to light w.kfbta. ' tlrlwsre A llllitson 1 .?.' ErleHallrosd 'lm 71 Hocking alley.. I'n I .'I IU1nol Central .. '.'in 31 laiulsvllle A shvlte I'm .1 , Mn linn'SH A I cias lull ', , Missouri I'sclOc . I.11 1 N V Central Lines . Ii i '." Norfolk A Western I'i' i i N Y., N 11 A II ' i' 1 Pa in I i iitlii ci i SI 1 1 M A South 1). I Sialioird Air Line . i 'i . Southern Hallway "in 'i I Southern PaclOc , in "i LvuYlaliJ. Halle ay. 1IH4-U ft