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THE SUN, WEDNESDAY, DECEMBER 15, lfB.
18 1 COTTON IRREGULAR AT SMALL DECLINE Jccorrt Flflmres for Domestic Consumption Fail to Stlm nlnto Ituying. BANKS AIDING HOLD KKS f3DttOfl OOOtl at a net loss of about .1 en botnto yesterday In spite of 1 1 1 (I it the ...nsiia icport of supply and fJftrlOUtlOfl Rive practically a record ccr-nnii't'"" W American mllla durlne; November. RopOflf from the (south In dicate no tvenkness on the part of hold iro. ! . soma Texaa wire stated Ira' 'i " demand had fallen off scone -wti it TJ.irf nu frae sell ins; on every saturn, hOWf Wr( and while the market , tlinwe . .-oit rrsletanco on declines there teenicl t" ie very little rtispoRltlon on M Pr1 Of traders to follow uitvancei. A. .or.lniK M the Census Bureau the amen '"lot) consumed liy American aMlh November nus II 4,000 bains, Ui:rii KO.uoti baiea 1,-iat year. Thu total for tM Benson was 1 .977.000. igaliie! 1,071 onii laol year. This waa t am of 3OA.0OO b.iles for the four anon 1 1 ' a ended with November The consumption of I. runs amounted to tl.000 hales for November, compared with tT.MO hales laat year. stock of cotton on hand how 11 eOnstdcrHule IniTeaHe over lat season, n far as manufacturing- establishments are rnrioemerl Spinners hold 1.613.000 ; kalfs. agalnat I.OCit.OflO last year. The amount of cotton In independent ware houses 1 I.OSI.OOO. a(nlnt 4,000.000 last year. The following Interesting comment on Hie nsoihlllty of free selling enot rot ten during the holiday aeaaon cornea from Memphis: "It Is predicted that I those who are looking for any Important amount of selling because of holiday need end end of the year obligation re doomed to disappointment. The strong financial situation obviates that, and the attitude of the banks through cut the belt Is apparently one of render tt.r every legitimate aid to fighting ef forts to depress the value of the fag end of a crop that Is short. Such ha nevor More been the case, but it Is In keep ing with the policy which helped so materially in preventing dumping of toots during November, when auch mighty efforts were made to force sell- lot Uarket closed barely steady. Ooen-nifti-Lowr. Cine in et est Ing close, tsssnber 'T 12 07 11 M lXjM4ju.fl lM.i4fit.13 January. IS.Oe U'.ll l.4.fl2.00 lilefH.2.17 Moh 1? 1: r 12.3 1: ;v,fii so 12 4iejlla XV an i:i- 1. 1-1. friM 1: tii Ally .. tt.fl 12 71 ltM 12'.fr?.S2 13 74012.7I Oaoher :13) 1 ; a :. to ::r!2 : y: riat The local market for spot notion was j 10 points alvvnoe. middling. 13 ate, Southern spot markets as officially reported -- Uftchaufed to 13 points lower. New Orleans. 11 43c. ; .Galveston. 12 30c; Savannah, 4Sc Mesnnnia. 11.11c Awulls. U V imiaorv 12 30c. Toe Nw Orleans market dosed steady OpenHifVLow- Oloe- Peer a eat est Ing. close. Bsxrmher 1! Ki 113 11 3 114nU. ll.9lrll.!4 JtttLary.. 11'. 11 a 11 Vl.lffl1 ! HTJ4J12 01 Xir-h .. ii! m so i:. .y !3i! m ? M Utt. . ill) liil 1217 U.4StrU44 13Jei2l The Llreruool market opened steady. There a soad ttaXaand in eowt cotton, wit h rold Ciat 1 point drline at 741 Sales, 11000 ball: .. bale.- Ameiiaau. 10.000 kv , -! barely steady. (Xueiv Hlrh- lw Cloe- Prev I d est. est. ing. i-loee. . ,'tn .pes .. .. 7. 7 1i 7 7.3R 7.v, j 1 T.S4 7 , 7 -Ti, 7 : T.1S 7.1' 7JS 7 .1 7 12 7 1JS 7 12S I lifea-April.. 7 n Sty-Jane. . .. 7 . July-Auf TJf The 11 A M M4a to Uverpool ); Janu- lary I1.0M.; Mar'h. at.SOo.; May. l2Uc; I July I2"ij' . r,-.nts-r. I.l7c The niark tier- La due 10 oea to-Jay 4 to 1 poutt J rsrl receipts and stocks: Re Laet eei,nts. Tar Stocks "aV-s-en .. r. TM tn.srj .i-.sr gee Orl-ans l.'..S3 HM ': ttl ... S. 36 1.M1 M.0M savannah.... 4.0H W.l 2-'.3S4 Pharteaon a.07i 7.7XJ vnrm W - 'ion. 1.17 "V 44 'M Mm 'n k ... ;.aoi ;.os un,n4 blsrior re-elrs and stocks: He if. salata, year Stocks. year I 4C1.-.H O'-W 4f..47 grtstii us.r. TH.lffl Laat ye-ir llvJ". as.i7 .(r; 14.412 Laet 2o!: 1,41 'total Total iWrisi .. Msm;n:s .Hi. Loud Rouslou 2 130 !.! JH 'wT. 4 HO . i M3I M.l i.ti y-M i'i Kutitoaleil port Last reilpia to-iiay week. . n tnoto i2 8s) i4.ni a'-tes-nn MfJ Orleans. ji.tm to u.6u i.rM axior.s ' erlay were KM bales. ttm tai -aor. S.O4H.210 bales Ian season, l.O.lU bales THE MXTA1S MARKETS. Xa l.arae Bntlnf of Copper Until .r Year llxpretrd. i'lyinr of iinper continues to be confined la smal lots of aleetrolytlo, niainly for early s No very larae cuntracis are ei- rented until after the mm of the year be- ajte ot tti ennrmoua Quantities sold on the kit buy:u movement The lo.al market rantlnuei to ranae from to Ha per po'in.l The KoaneoOtl Copper Company Is reiiorted Is haee produced fcj.'no.eou pounds tlunnt the m aeveT. Bjontba of the year Tlio Norem err output -as lO.yioeoo pounds ueml . remains steady for Amerlcsn elec trlrtic at Itfl Pi for spot, standard was srmer In totie yesterday, with an advance of on spot and l.a ltd. sin futures The di&sroncs of 0 between standard and elec Irelytle .:iMr is to excite interest. Kaports fr.'.'u t!i country continue heavy. 1.212 tons he.r.i re;.,.(; yestajiday and 11,041 tons since ? ember 1 Imports reported yesterday In " . Tins of ore from Chile so tons of I ooppei and so tons of ore from Peru . . esj slsady here and firmer Bl London not at N Vork was held at 3"ic . while pseombsr delivery was offered at 374; and h 1 There is small Interest in future nesltlotw arrivals at unltsd states pons OOJ l emSer 1 have been LOSt tons The Atidnn notrke4 for Straits tin was 7.s higher w fill, n . S standard market advanced f' on snot .on futures The Siri-'tnnre mar ' ssAeet 1mdon of the previous day, Of'ue . .. .,t to i;o, but a reeovery.is ei ISMerf to uav Ipsltar eontlnuaa erratic, with charge! of i- 1st t,f, oonstantly made Sr.oi ) ,niot '. ' , to 17c: Mi-'ember at 111,, In leac s - Qrei guartsr ahlntgienti run from " The fxndon market .. up 14 T l American Hrnellng' anit Refliung Com (Ol . .) the price of pig lead vester 1 : " i to Mo for shipment from the .444 ' Inn o4 This ts SQlttvaJenl to an ?' s of ir ton. The London market I" 'er on spot and 0s un futures Wt . ,.f,; , ,yt (,s THE STEEL MARKET. la ".is. .1,1, Itul llrmaiMl Con tinues lli-atr. i tor i eel orotiuoi eontlnuaa for BUob forms us arc used fi.-'iue of war liiii!nli.iis. hut IS th ,, ona-ienlh "f tl.e luaulriea from - N tie plsed in the current mar i ... y i.. .i iiKiniriea liae i onie .', " ' .lays mel.ulli, steel ; ' Itruol :ral fhai.e- ami hari r 'piif damsalil oamsjal f..r wire ,. - ' intTeaas rither than otherwise. t... .mil. .... , " loun .i that the Max. .a Munition i, ' l"'r- hase.1 th.- plain of the ' r:ter ComPaOf at llerhv CotlD,, . hs -iiui7i in the manufacture of 'I lie prtMrnt enuii.nif'it of the ml etl is- nii.ve.t to (lea Hareti, of , . I lie ..tlllze.l in th in ,i , ,(.,.. ,,.(, " riut. V.lt.s (.ins i.litinnal orders f..r routul haM for Sballl h.ive lieen njantd bf ifailurers More Canadian bull ; iKlmif - a Chicago itDort a roup of terests Is nst1fiia for the i.ur ' llaakej A Tinruer Cjir Company h - in 1'it v. I ml This plant haa I ni l I.e 1 lire I.0..I freluht cars t i. I4snnarlva4)la sieel t'rintt.anv its No t .rria. at siaaHoiii t-rirt. e al thai point ns ueo :.. root) uemaral rui.t i heavy InqtllrTes f... Isuh steel i ) to mdry .run The Canaija jb Cmunany i.e r anlly .1 ll i for i lOftb shell, nml all ' ' rn nic in turn out I.OU0 par day ls.r 1 lie i lam is oemf eateaded : ui neae for 4j GOS8IP OF WALL STREET. Hard to Hay. The turn for the better In the tock market suggested a superficially oversold speculative position. Apparently the trading element had gone abort of the market In the eiectntlon that liquida tion would be stimulated by the various uncertainties of the situation and by the failure of prices to respond to bullish developments In the recent past Being disappointed In their hopes the shorts took In their stock. In consequence the market waa a hard one to buy In from the start Bids found that itooka were offered generally of 1 per cent higher. When prices were followed up stocks wera discovered to be actually scarce. A certuln lack of responsiveness to the "malice on tne part or some recognlrcd market leaders waa criticised. Steel, It was remarked, held back rather conspic uously for a while. But It wsb admitted that the market had exhibited a greater Undenting strength than had been ex pected. Most observers, wrille admitting that exertatUm of weakness had been disappointed and that Ml sir market opin ions needed revision In this regard, were unwilling to believe that the market had changed Its character and was rr.ore than a, trading affair still. Nevertheless, the fact remained that another critical point had been passed without any alrna of real weakness. The Christmas Tree. In a tVniCal nirlltmna marbtl k. i. alwnye one etock which bv common con sent is nicknamed the "Chrlatmas Tree In the present case the stock In question appears to be rTtudebaker. Every one with a desire to muke the market nay Christmaa eiinsH 1 .4,.r-...i ...... - - Mu , yum oiutir- baker Is the horae to back. For some time the professional element has been extremely busy with Btudebaker, under the leadership of a well known floor trad.r. Some days ago there was a move ment In UMattock above 170, from which there waa a sharp reaction. The second movement this week has. pushed It up past the old mark. Knrly y.stenlny morning word went around that Xiude bakar was not only the pick of the talent Tor the day but also In for a big move ment. The prufeaslotittl element bulled 111 hard. Airt from the activity of the trading element, it waa reported that Mudebakcr tvas u, in,., bought In quantity by a OOmmlajUon house that has played a prominent part In tlie market U the war brides.'' Mexican I'eto. Kor a long time Mexican Petroleum rws sold In the present level without giving any particular eigne of leaving It. Outside peculation haa left It rather severely alone because of the Impression that the fluctuations in the stoi k are what the Insiders wish them to be rather than being In sympathy with the gen oral trend. But the present level Is also only a few points under the ex treme high mark nude laat aprtng In dicating that the stock haa been quietly and even surreptitiously strong. Quite a number of people have been Impressed with the eteadiness of the stock In this level and for that reason have been ull the more Inclined to lend their ears to me iaia mat nigtier price in the near future are looked for. ThU talk haa oeen accompanied by reports of the for mation of a big combine to compete with the Standard Oil. Incidentally, the mar ket for the preferred stock, though still somewhat out of line with the com mon, haa shown greater strength than on the oooaalon of the laet rise. Coalers. All of the coal muds were strong, ap parently on talk of a tremendous for eign demand for coal. Norfolk and West ern sold at n new hUrh record price Of !"-?. up a full two points on the day. For many month Norfolk and Western haa etood out, as the traders sav. "like a sore thumb " Throughout la1 year, when other rjnda were skimping all they knew how to earn their dividends, N r folk waa earning Ita dividend by a com fortable margin. That w tl.e r. a.- 1. why Norfolk haa been bought eteaillly all the way up from par without particular re gard to the dlvl lend rate. At the pi ag ain level the Rto. k ihmsm t b.- . -.1.. discounted the rumored Increase In the dividend rale from 6 to 7 per cent., but that Is because the prlog Is made with re lation lo current earnings and prospects and not to anything else. Another Motor tork. Application lias been made to the Block Exchange to nermlt thn tt,M.. e Ch-indler Mou. s stock. The stock liae i i, .-,..-. ... .. . n HiHraei on the euro where It his been selling around So GOV. WAIaSH PRAISES WOMEN. Tells of Inflaenue In RrluaTlna; ATiont If naaanllnrlaa lia. XI.pnt.-i.au., N. J., Dec 14. Oov. David I. WalKh of Maaaanhusetts addressed ilir. A KsmpUl Hoolety here tills afternoon on "Tin- Influence of Women In TuMlo Life." Uov. Walsh said that women 'a Influence liad brouirht about tho adoption of worklnannrn a innipensiitlon and rhlld lnhor Ihwh. He also aarrlbe.l other hu marsltarian policies of uovernment to tho activity nf women in p ibllc life. To-rilht at the Wuahlnanon In Newark 1 !ov. Walsh waa the guem of the society nt a dinner. Judxo Thomn A, Ditvls of OraagO waa tho toastmaHter. Qov. WaUh and Uov. Fielder of New Jersey were among thn speakers. DAIRY PRODUCTS MARKET. BITTER-Th rirn Int.rfsrsil with de Uvsrlei and hrmirl.t Uuslneas a.lm.st to a standstill. Vhli. quotations were un- lianas.1. the liiarl.M was qul.-t. as 1' waa impossible to get sin. k from the ducks nr f. deliver to customers uithout unusual .Islay. Held butler In fr.. supply un ae COUSt Of the mure attractive price, Iten l valed In fair JeiiiatiJ. Ijies iteaily i'a. kii.a atm-k easi.y on arrival. Prwaai Craamery, extras. acr.re Ittia J.i'xc; hlfher scoring;, ITOITUc.i firsts. lo 1 acore, 2IVtCS5. . mila liua I JSC. I uiisa.ltso, t.in, j, 37 , 4 :t4 . prims ; to choice. S2s;.- ; held, extras, liua IOJ40.I hlgh.r scoring. 31... Illic.l nrjt's. llHOI , fuie. dairy, lu , Ansel s:i I He; good to prime IflOHU'.; oonvmon to I fair, HOIfe.! renovated, i tree, ;4,. ii Mlao.i n rets, zs'iu-'tc, ladles, current I make. Hist.. 22c.; ascends, 101)40 te Paoklng stock, June nuk. nne, ioi,,!. -i.., w..i "imww. mi-, VC, .t. S, lire lnv. r grii.lrs. KfOlvHo, .'HI'.l.i: Although .unci, the market continued flrin, especially en the ,,., aradas. Presto sta-.. u,. . n hgiu reauest skims firm, Prlcesi istate, wools mi k held ape, -U Is. lisle. j aaerage fancy, s, ai 17c; Querent nn.kr. speolaJs, I : 4 c , ritite r-kltns, held speilals, 1 4 ., l ; cbeles 13Mjc; fair tu Keel, 11 ii 011 Wo. I Wis conaln, iwlna, tsa40.IT. ; double .uki... l74jl7V4c . doling Americas, i7Vso taotlll Although curren. recelnte sr heavier, the supply of tine frs-h c . minus, 1 light. This keeps ths n.arkrt lirm, but : r oalisjfa are cautious en as rior to be caught ulth Inasy siLpplles rhouot a dS 1 c 1 ute acour. 1,'iidera-aUes and p.,r eggs have to be sold at a discount. Btomae steady, with free rpcruiathe buylna I p-ancy larce new white eggs 111 go,,, 1 de. I mand. nlf cindltloned grades iiict. j Prices: Fresh gathers, I. extras, line, ti ., I 42c I extrss. firsts, II04OUI rlrt-ts. ggta . ; aaconda Illy lie. I No, 1. dirties, 2:',i refrigerator, ape.lal murks, fancy, c; firsts, sto-age, 44l4Va ae ids, ,f22txc.; h.' nip tv whites, fine to fmiry, I r.4e. : browns, 11044c; tnigad oolora. 1 i;t DRVaWCD POUtsTRY Fresh receipts j wrre light on acoounl ..f ths snoajsjiormi uhi.-h Intormrod wHh Ins dlgtribution 1 Tip grades of all kinds gonllOUed nrrn. I Fancy young loins readily sold. I'htckens land fowls llrm. eitji the movement light 0 '1 roosiers steady, raaoy spring dunks and geese firm with demand moderate. i'-ices: Turkeys, Western, spring, fair to x I. SJif'.'So.; aided. fn.-, :1074c; ,ei.r. l o 17. Kaptuoay and Tennessee, .. .i":t,.. ; TsaWi fair to gomi. 09t1a Kowls, fresh Western, dry picked. xs, ...l Ilia and over. IfUQ ; Western, scalded larae. n.ie. f'hleksiis, fresh, nearby '1 lad 4 lbs. to pulr. 2Sst3.i; Virginia, milk fed. r, ami 7 lbs., Ho ; dry picked, corn fed, f. and I lbs. 1wlUc Old roosters. illo. ; equahs, prime, white, 10 lha to aesea. 14.71, lbs., lasMi ska, 14. FRANCE NOW INQUIRING FOR 5,000,000 SHELLS (irent November Salen of Struc tural Steel May Be Record Month. J. V. Morgan ft Co , representing the Hritlah and French Oovernmenla, have put out additional ateel (nqulrlea. It Is understood, for 60.000 metric tons, equivalent to about 60,000 gross ton, j largely for the manufacture of war muni ) tlona, but thn imiulrlea also Include a large tonnago of wlra and structural 1 shapea. an. I for round rtocl bars. It Is understootl that most of this tonnage Is I wanted for the Hritleh (lovernment. An Inquiry waa also put out for 0.000,000 jtu lis, 75 mllllmetera in diameter, for the French Uovernment. e . The orders placed for fabricated struc tural steel In November 181,000 tone, aa already noted were the largest reported elnoe .Vptll. 1909. The actual sales were very moch heavier and were probably the largest monthly sales Ui the history of the Industry, but for vnrlnun reasons It was not expedient to make olllclal re tti i n to the full extent of tho transac Uonti Bpeclrlcatloiis. of course, on some of thla work will not be re- Ived for ninny months. Another point of Interest la that while the sales last month were (iiulvalent to 105 per cent, of total shop capacity, the sales a yrnr ago that l.. In November, 1914 were only 20 per cent, of total capacity, equivalent to about 16,000 tona The month of De cember Is likely to show between 75 and 100 per cent, but toward the holidays business nearly alwaya falls off. The American Ttrtdgo Company le now operating Its Baal -rn plants at close lo full capacity. Qparations during the month will probably average about 7flJ per cent, of tOttJ capacity. It la eatl- mate.l that the Bggttffi jdatils have a capacity of 20.000 tons s?r month, but under favorable conditions as much as 10,004 ton a month could be produced. The Plnooyd Works, the largest In the lOsatern division, under ordinary condi tions can turn out about 7.1.00 tons per month, but under exceptional conditions hive a tually produced from lO.OoO to 12.000 ton per month. Tim American Hrldge t'ompary, as a whole. Is esti. mated to have a capacity of from 60.000 to 70,000 tons a month, depending upon plant conditions and tho character of Mieclflcntloia furnished. The Pennsylvania Kteol Company has been awarded a contract for M.000 tons of standard section rails by tho French OovernmonL American nulls are etill negotiating, and It seems probable that the balance of tho lno.oou tone upon a'.TIch tenders were submitted will come to this country. Other heavy Inquiries are ui the market for sue', from the Frcndh (ioveriurient. see The rirlgvs-Kcabu! y Steel and Ord nance) Ooni4ajiy Is understood to have secured a remtract from the I;r4t.-i ' lo enimcut. throuKh J. 1'. Morg.ui A Co., lo miuiufaclure 10.0OU aanaplane guns and (04 oannon. aa well as ap proximately 2.04)0.000 6 lnoh shellK Con t:aota for tli steel bars to cover the manufacture of the high explosive shells, it Is undcratood. wero platted witii steel mills for shipment over the drat quarter of next year. e e e rvjmee'llc consumers of wire products have placed Botne additional contracts for shipment over the flrat quarter of 1916. Till haa been mad posalble by Rome of the largest cminpAnle acoeptlr.g ord.-rs, although ovetsold. In tl.e ex pectation of being al. c to adjust con iracle previously 4. laced to jsjrrr.lt the rolling of tls-se new pressing rwtuire ments. Kxjx'rt ciir.tracta taken by the largest Interests In Novemln-r wcrv but little over 4o.uoo tons, or more than bO per ta-nt. loss tl'r.oii during the prectdtng month. The foreiirn Inquiries, however were four or five times the tonnage ac cepted Contracts! plaorel by domeet'.o manufacturers laat month were about 1 '1 per cent larirer thHti during the pre ceding month The demand for npeolal tles Is overwhelming. In some lines sales during the last sixty days have ex ceeded sales of the same material prevl ously nutile In an entire year. Al though the wire mllla are crowded to day It 1 predicted tsM the rush will be ern grrlter In tlic early spring months. Tl.e Ckilafllatl Btsall rvimmlsstlon. after oanvaaalns the PttUAtlon In the Domin kui. Is UndaraUXstj to havo plaoed eotue additional ooatraota "irh Amerhain mills for shell f.rtfin-a to be used In the RianufaotUTo of k to 10 Inch ehelln. In the laat fow Iatt thoae orders have called for about ".'S.OOO tone of steel 0O4HO of the rhlj.itieniH, It la tmderatxM.id. Hill lie made seed1l.v. while othvra Wtii run over the flret rjnarter of nesrt year Premiums have I.e. r, paid to secure the preferred delivery. e e s Domestlo railroads have placed addi tional contracts for rails, curs and loco motives, but temporarily there Is a dis position to withhold detailed Information f ! vailoUl reasona, The Inland Steel Compaay Is In the market for five switching; locomotives. The Temlbkamli.c end Northern Ontnrlo Is Hiking bids on four consolidated cnKlnes. The Pullman Railway l about to order one switching engine -and the I-'nlrchlld and Northeast ern .mo PaclflO lypg locomotive. Tbo Kay Consolidated Coppaf Compuny Is In the market for twenty dump cars, tba New Jersey Kino Company for forty hop per cars and the United States Depart ment of the Interior for fifty dump cars The Jieit Western Hallway has ordered one postal oaf from the American Car and Foundry Company, S S S Thn creat, broad market for pig Iron continues to attract attention, although wpectflo sales did not cover large t.in naaTOf yesterday. Some very l:rge con tracts are under noeoUatlona for both foundry arid steel making Iron. The one Inter, ytli K new pluiee, however, Is the In creasing demand for epot Iron. P-e-RllUtni are belnir paid for quick ship maul and inuoi) hlfher prices are to lie expected, It In tho flist lime In djrht .,r nine j.-ars that the blast furnuco Inter ests have iVuifronled nil aOtlVt spot mitr kct. The outcome Is 11. Ing watched with onuaual Intoyast, see An active demand haa also developed for cool for cjuick ibtpmiftl ules nf high gradi itaam cool have been mode at 7 10 par ton. while gas coal hns sold al I1.S6. mid oven slack has 00m m and. d tl.Su per ton. One Utatarn raUfOad has placed u contract for Cuu cars of steam coal for prompt ship ment. Less 1- being done In export be cause of tho high freight rates. Hhlp ping Interests now demand 8b hillings per ton on coal bound fur Mediterranean ports. This Is tegurded ns prohibitive, nt least temporarily. onovolMafrd iCn-hanic, In bl ( cf mny of ttm Irnportiuil aft Ua. iii' UitiliifcT TTnlteil fMata Btt rom moii, Atlftonndt, Union Pni'lilr and Kn. ihiip oi't-iiinir un rn on this CniotolnUieij Stock kx fnanff yiirnkiy wr tho? if lowpit and tlioif cloauif iiuotfttiont ihr r hifht Tlur h firm lour from th ml nrt Hrtt frndimllv movrd liiKhrr. with (nt tridlng Incretoainif und ""Im oVllvr ;..( Iq ,ay L n 1 1 4 1 ,mii4o. Hlrl ot'4riid m ptu, juh! bj. tiiiiinI to M which U rlOMd Aniicnndn oprnrd al i nnd ' m',i al Chttvijtn Hoi U Utiiml and iM-nlr waa fthmit thr OTaly toft tliol III ttir tnfiikrf Tl Oprnrd Ot l of a polnl tmdr Mondar't tooing rsrly aol.1 at ami thm ttrofca (0 IRA, rlnBfif i u Hind-hnarr oprtiad al t7I. aarlj gold oV l7 and than roaa to I74U, r!ra uar i IT. Twm mi nm tnm WHk to 0. Executor Trustee Charterer! 1829 The Farmers' loan and Trust Company No& 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue New York. tOSDOW, 16 OMtopu Bt, a W,, 26 Old Broad Strati, & Q PABIB, 41 BonleTarf lumin BERLIN, 66 Untar don Llndn, ft W. 7 Trarelers' Letters of Credit, Foreign Exchange. Administrator Guardiai Intelligent Appreciation of the banking requirements of our clients, is one reason for the rapid growth of this company. Deposits 191.1, Dec. 1, $17,326,36 Deposit. 1915, Dec. 1, 54,646,950 Metropolitan Trust Company of the City of New York Ocorge C. Van Tuyl Jtn President 49 Wall Street W. R. GRACE & CO. BUY PACIFIC MAIL AT $10 Also to Tny $2.80 a Share Kx tra for Southern Pacific's Control If Assets Justify. Julius Kruttsohnltt, president cf the j Paclflo Mall Steamship Company, yes- terday made public the terms under Which the remaining VeOOOti of the com- pnny and the 110. Sen shares of Its stock J held by the Southern Paillfld Company ' wers taken over by W. II. Oriu-e A Co., acting- In conjunction with the American International Corporation In the pur chase of the seven gtaamshlnn The letter sent by W. It. (Jrnce A Co. to the Southern Pacific company stating the terms follows: We hereby oflcr for the 11000 shares of the stock of the l'aalflr Mall I Btcaniship Company, held by your j company, the sum of tie per share, ex dividend III per share rc-ently de clared by the company, payment to he i made upon delivery of the etock to un. We agree to pay a further sum of r.O per share f..r said 110,101 share provided Ihe assots of the l'a.iflc Mall Steamship Company exclusive of its . seven steamers equal or exceed the sum of II.DO.OOO. It being understood that In the estimate of eu h assets no value shall attach to good will or charter rights and that such vnltie shall be placed on assets other than cash aa may be mutually agreed upon between r A. Vanderllp and II. W. de Forest, the valuation of such assets to be adjusted as .if date of payment of above 10 per ehare. It Is understood that In so far aa stp b assets shall fall below the sum of $t,S60,000 a proportionate reduc tion shall be made In said 12 6" Instal ment In the price of the stock. We further agree if this offer be accepted to make a like offer to all of the minority stockholders of the paolfta Mall Steamship Company, according to them until January 2. 19 1(, for accept unca. THE PHILADELPHIA MARKET. PHILADELPHIA, fsv 1 1 -t Ian brl .1 Steel, j T'hllartelphla Elwtrlo and Philadelphia Rapid Transit were ths more active securities here. ; with priest ruling stead? thrr.iictioul the list 1 Itontl market cmilluued active and sleadj. I 1 he summary: Open- RtfTa 1is- Cloe Inf. est. est. Ine Sales 170 Amer Milling... 41 Amer Radiator. 10 Huf A Slisn In.'. ramhria Steel . fit leolrlc Stitras-e. 17 Gen Asphalt pf. 3 Ins Co of N A.. ! Lear Sun Corp. H l-ehtf h Nar .... IM Lett Val Trans., Tali r. 71". . 71t, I.'. 7H 14 nu , IN fe.r, (JVi IIU 71, IftU lo, mi 41', 41', "' 14 411 13 ,:4; RH 4j ij 1 iru , lon nai 43'4 1 liU 7H 1 871, Mi, 11m Mtt 4.1'i 4IU tr. Ih Val Trans pf H7V, ax Prima K R to 3 Peiina Salt Mfr...l'ifl 4. Penna steel pf ... 13.-, Phlla Co 4Ci4j 10 Phlla Co cum pf.. 4:;, TI4J Phila Kleo 7", tli Phlla Ksp Trans.. 7.11, loss Phila ll T tr rtf, jnv, 44 Phlla Tra.-tK.il ... H 10 ll 't 44"., ' '. 45 4'. 13', r l Heading 1J.I t'ntoii Traction.. 4J PlUtOd lias Imp ion w Cramp loUf. . m Welsh i. h Co ... U York i.t pf IIU 444, M 44 18 33 !, 41" 4444 S3 'I BONUS UM Am Gil Flee US 0H II r,i liu 101 ', i no inn', toil, 1"! "4 K ui 07H 11 M U 101', 93 no I0OH lotu l"l Mu w, 101 7js; !Ti i 41 b 0214 Best ki !-,.,, --rHe 4a 2'Min Interstate Kr la. M '.''.", 101', ; tin 10041 mi, toi BU or, loi 7J'i .lam.-s V A C Is,, I., li N eons l -,a I'll Val ren 4s I. V cons ils rri . Ceiina fen 4s . 10't HI 110 1004. 10-l. 17 m ui retina eons ilea.. Hag Phila Co 1st i-a .. 104,11) Phlla Ele,- 4s ... lOMfl Iteudlnv fen 4s . . 1000 Span Am 1 6s . . . lliCSjO I'll Had Ills If.., 44 or, 103 FINANCIAL NOTES. l ha directors of ths First National Hank i1rcUrod un Jttfri illvldrml (f I tl .--. .1 v , p -4 1 r January :i o .. k of rov-nrd on Ircmtirr 81. Tha raa;uiar quwrtrrly dlvldrnd of 10 prr o?nt. wui $,)Q (ir'Harad. Tha Nr Tirk Prodna KTohnr Pafo rrpnlt and r-'t-traifa "ompati' Tvua llfOJortd a r g-u'nr dlvldand of 4 par oanL and an xtra dlvldrnd of 3 par emi.. DtyobU JonUoVry 10 Mock of rreord lifi-orntior 2H B. ik chirr Ueoemrirr 24 and ro-ipon Dtcombor 8i WlitlHiu NobU PU'klnron will d1lvrr an i ad dr( 4rii on tha "fouth Amarli-an 7'radr from A Comn.arcla.1 Viewpoint" hafnrr thr f nrral firum nt tha Nrw York cJiHptrr or tht Ainarlcan luatltiit? of JMnklii thla' rvrnlng nt tha rha,ptar llooiua, 13H Kaai Thlrty-flfih atrr. Ho, Wilr, prtldrni of tin WMtnay fntrl National Hank la expfK-trd to arrlva hara frmu Nrw Ortrana nrnt Friday. Hfl innv arvrr liln OOnRavUOII with t.ia iimiih Hnd rMiibtiah a oonntotion with tha hrnkrrnitr firm of J H Hachr de OOi Mr. WtSlOf will mMka hla dual dat-lolon whan lie .radios Nrw York. Tha cmunlt tre for tha protovfjon of holdrra of tli KanmiN Colorado '.udth' ItMllw.ty Tonipany flrat rafundlri mort g mm t! prr rnt honda dur Pfbltll ff 1, llfli which rrpraaanta nmra than 7f. par crnt. of lha onialHitdlns bonda, rrqurati that holdvrf u 1,1 hava nt ulraady d ina n .lrpno.lt thrlr hnndM prompt iv with, thr KrAnfclln Truat fctmpnny. tti Wall Mirart, 1 1 " prpMnliary undar tho ppotOOitVO un iion t. duird Imrmhrr !, 1H16 Tha pom. 'ulttrf haa art Drcrtnbrr 20 aa tha final dy for drpoaltJnff bonda. aftar which datr no bonda will b accrptad airapt at tha dla oration of th com mitt a and on ouch la rata aM ooosUUOM m n f I THE BOSTON MARKET. I roSTOJI. Dec 14 There waa a decidedly 1 firmer lone to tbe mining shares market. Alaska Uold sold at 74. an advance of is, I over the opening price. American Zinc was 3H higher Hulle and Superior at Tlli was 1 over the opening price. Railroad shares were steady, with light transactions recorded. The summary: Opeu- High- Low. Clos ing est est lug .. is i"a IS Hi, .. g)fi :, as U , .. i 1 iff t . 5A ' , I, tslUj 1 ,, tUH lit, .. , ; . t 7 ..4 4 4 4 7014 7JV T014, 7:14 ! 7U MS 17 VI l 6S0 h 1 I. m tin . II hi II 14 1. r:s H (.? u . ;..4 f.v. r.-a, MUj . 1"4 Wi 14Uj n . 77U, 7414 774 741, . MM a 46 461, . I'.Vs yt a r.., .6 I I C . 4414 444 4'i 414 . as s j , . a in, i 1714 S i 4, . ll4 iTsg aii, 17S I . iw IV4 l CV. . 1 1 7 i u lift 11 lift ft 4 H , i i j . 14 M 14 4.-, . ft MM Ift 10 Iff 7 7Vj .so rft jo ao :v, 7 :w . 74 HI. 514 M ll 14 f.4 1 M If 17 . 14 lri 114, -.4 . 7'4 4'i an, 44 Z BB ItV, MM I . -'ft 3vt j., I .7' 74, 7U, 7H j . tl', 14 3Ji, 34 I Iff .'.ft .'.ft . Irir, 6fi, (r, Its , 7 7 i x 1 M 3u 14 2.. .4 111, K MM . W 10S '4 101, a M si at 44 MM 4.. 41-, 4H 411 4 ,4", 'V. IM KV. 3'. .7? 0M f s 71, ifl 2S 2t M f 7S M t7 I . 1 41 t , , , .W 130 i-a i . TW 7.H, 7lM, 7HUJ ! 7ji, 7t. tiv, rr.s 4 H t I .If" Its 144 11" I . en ia 0414 ... 1 MM 43 k.-, 4.! 1 Sales 1 H Advent are ! : - Alaska hi a: unman tr. Alloueg ! Om Amer Zinc 12 Artrona Com ton natopllae . yak) iiutte a 9up..., 1 aiutnet a Am 11 Calumet a Hecll 10 Centennial R Chlno It; Copiwr h inge HM Kast Hulls OM franklin 1M 1. -entry -. Greene Cananea las Hanco.-k 11 Indiana I. 1 Island Creek 10 Island Creek pf... m ill isle Knr.de 10 Kerr Lake 10 Keweenaw lis; Lake ' La salla 10 Mason Valley... ISO Mass Con i Mayflower im Michigan 100 Mohawk fo New Arcadian.. M Ml pissing t North nnit.... tU North Lake sn Old Colony f-i Old Dominion.. . 'it Osceola , M Pond Creek nu Quiticy 10 Ray 110 Sac's Te 141 Shannon NO hattu. k 100 South Lake 110 St Marys I .and fsr Superior t lie 9 Ouperior fr' Tamaraxk MOI Truuty SjQ Tuolumne Ki I' S Smelter My S Sniejter pf. too I'tah Apex 4 I tab IM VlcttMia io Vfolearlaa 1" Ik.alon Klesr.,., Baa A Lowell... 1 Fitet.hurg pf 1J" N Y. N II M Nor N H 1 01,1 Colony k R. rjl End UI Weal aUM pf... .Ml.-ELLs4NEOl .am Air 4. hem Tiw II Am AST Cheiu pf aa 11.. I Amoskeaf pf.. .l(s',i L0(SU HQ Am Pneu rj.T4-iee I z 704. too tjOMrf rtbu 1V-, 1S 44 m Am oitfttr. . Ui Ira, l': Am S lifer pf 114', )v lit. 114'. inu Am 1 a 1 .1.-41, :i Air, woo elf 4.4 1 .1 Am V4mI pf fa i'i Am woo stock... BU i.i A 11 W I j.., m 1(1 tl of.... 43', m Kaat Ikrs Land -, K.Uaon tvtj If. lien Baa i !- uov U 44 V4 H4j .., ss 'i 17f. 4U i I44C. 14 144 Bu ix 0M in: , ' mi "1 OMj t . 04Vi IS IT, .41 a,-, IS.", vr. 14- sr. ll1, 1031, Us:S 1018 SI'S . M as, Uae. : 4 Mass 1. a, pf... li. Pullman 4:. Sift 033 United Fruit... 11 I' S Stsel . .... IM Ventura Oil MU M .lh.'. iy.i, 147 . tit lf. 13f. 14-1, ow 111, K7', 0O 1", s !M'. Hill Hf BONDS liivo Am AfT 0 iV, 'ai iauv, . Am TITO Hl4 Am T tf T es 4440.101 H 1000 Maas Oas 4,s '31 (Mi, 100 n k Tel 'h...,m 1000 VVeelerti Tol fcs... mei. THE BOSTON CURB MARKET. 140STON. Deo 14 -The eloelna; Boston evb bid and asked quotations follow: Bid. Aakert AUarado Hin.liam Mining-.... Har stMte ties Baaole Mston Vile. ....... Butte a lialon Cala4erns Cons Arizona Corler IV) .3 M .37 iu 1V4 Or. 80 M s.e efll . 1f v, &) I I" 1 ..... H a ::::: i 'Ha 3 '.it on Chief Cons 1 Cons lopper Crown Heserre Fl.lr 11 B Hails Daly ; linldtleld Cons : lr,"'l i,iosr,'ll 'r Kirr-t nai Ooppor.., HoUfhlon Maleet',' .M.'KltdeT liar Mllii-e .f Arnerl.-a . . New Haiti.- ... .... Nevaila llouslae . . . au 1'4 .70 I OoiHhw'effaf lami .'. T0H oil s in io p s f a Howe Clah Metela TotMipah Mt.niif mam Corntllo OVj 1 .a-. Ontvo Hlawart nniiad Vrpdr Ration Tonopwb ik'imoiit . . Yukon THE PITTSBITRO MARKET. prrPOBnKO, leo 14 -n.ere was a Arm tone In s'o.'k ir.'lna here The. tcls were les.leca In slrenrtn snd activity Ohio Fuel Slid Pure Oil were III dajneno Pltlahucf Coal Wts arsiut 1 point hlfher The summary Onen. Hifh- Low. Cloe- "IB ... n. c ISO PP - ' 70 10 Am W (J Mch p,,lMU ICO tin Sewer Pips. .. Hi', Kj Caner Hlver 04 M Columbia (Ins IM, 0I Itsrhison a W.... 7n !., I ruin Brew Co. ... 30, i Iji ltells Iron A 8 07 MM 17U 13HI, Islj 1SV, no 41-4 lf., if oT 03V 11V, 7'IV, J ft, M au IS '1.1, 34 1 140 l"0S 01 ovu 1 1 v, ait 4IH in, 100 Vtfrs I KM A II . r. ', m M 41 14V, tf) 70 Mi 1 i7tt 144 a 170 Nat Klee Proof... H I . Bal rue P pf 'Vf, 7 l Ohio Kliel SO i Ohio Furl Oil ItU , o ,.- a Okla ion Ti", Okls Oaa 70 ID0 Plttsburf Brew... 0U IHW Pure Oil 170, 4si Plltobiirf t'ua 3'i III 0 S Olsss .. .... 341, : Prrlon Nat On, ...Itt inn We house A B 1J0A, BOVDV loom Columbia Oaa la., ssr. MM PUIO Bto U.. ... :io, li.i r TO THE HOLDERS OP THE FOLLOWING SEtTUKITIKS OF THE MISSOURI PACIFIC RAILWAY COMPANY: CenTorfiblo Flva Per Cent. First and Refunding Bonda, Four Per Cent. Gold Loan Rondo, Capital Stock, and Serurltleg of the Other laaaeo dealt with In the Plan or Revetment In 43rfJer to preserve ttie MIsMurl Pacific System frnni the evils and losses Incident to a protonsed r wrvmhlp the Plan of Readjustment should be promptly consummated. The property does not require tho extensive physical rehabilitation or the elimination of burdensome entanglements and contracts which ara the usual causes of long railroad recelverehips. What is required is (a) the cash (approximately f41.000,000) for Immediate needs; (b) such reduction In fixed chafes as will bring them within a proper margin of the lotnonstrated earning capacity of the property! and (c) the creation of a new security to deal with the obliga Hons maturing during the next five years (approximately 1 7'),ooo,000) In so far as they do not fall within tho tih provisions of tl Plan, and to provide for future corporate requirements. Manifestly these results can be accomplished only by an early reorganization, and to this end the prompt ofoperation of the holdeto of the various classes of securities affected by the readjustment Is essential. They are accordingly urged for the protection of their own Interests and In order to insure the early restoration of the property to the management of a solvent company to dopoait their securities under the Plan of Read justment as promptly as possible, and In any event ON OR BEFORE DECEMBER 1STH, WHEN THE TIME FOR DEPOSIT UNDER THE PLAN EXPIRES, AND AFTER WHICH IT IS INTENDED TO PROCEED ACTIVELY TO CARRY THE PLAN INTO EFFECT. There can be no doubt that radical changes In the financial structure of the Company as called for li the Plan of Readjustment are essential to secure the needed results. Althoigh the anticipated Improvement fn business should result In better earnings than those of the last fiscal year, which failed to meet the Interest charges by about Il.350.00O. the margin between earnings and fixed charges which Is absolutely essential for the restoration of the Company's credit cannot be assured without the reduction In interest payments sought to bo accomplished by the conversion of the Convertible Five Per Cent. Bonds and the l-'our Per Cent. Gold Loan Bonds Into preferred stock (or Income bonds). Under the Plan the stockholders provide the 41.000,ooti of cash for Immediate requirements without imposing any burden upon the holJers of these bonds; for whilo the stockholders receive a four per cent, bond equal in fn;e amount (but not in market value) to the cash which they furnish, the position of the holders of the Convertible Five Per Cent. Bonds and the Four Per Cent. Gold Loan Bonds in relation to earnings Is not disturbed in any material degree because upon the consummation of the Plan the charges ahead of them upon the System taken as a whole are not augmented while the net earning capacity of the property should be substantially increased. The attention of holders of the Missouri Pacific Four Per Cent. Gold Loan Bonda Is called to tho fact that default has been made In the payment of the Interest on the Iron Mountain Company's First and Refunding Mortgage Six Per Cent. Bonds and that proceedings have been instituted to foreclose the mortgage, by which those bonds are secured. Their attention Is also calleJ to the importance of preserving the trai'fl. relations between the Iron Mountain and Missouri Pacific Companies. Copies of the Plan of Readjustment and of an analytical statement relating thereto may be obtained from the Readjustment Managers, any of the Depositaries If bub-Depositaries or the Secretary of any of tho Committees. The Certificates of Deposit frr Convertible Five Per Cent. First snd Refunding Bonds, for Four Per Cent Gold Loan Bonds, for Trust Five Per Cent. Bonds due 1917, for First Collater.il Mirtj i? Five Per cent. Bonds due 1930, and for stock, have boon Hated upon the New York Stock Exchange. About 40 of the Convertible Five Per Cent. Bonds and 40', i of the Four Per Cent. Gold Loan Bon is have already been deposited under the Plan. DEPOSITS OF SECURITIES UNDER SAID PLAN WILL NOT BE RECEIVED AFTER DECEM BER 15, 1915, EXCEPT UPON TERMS APPROVED BY THE READJUSTMENT MANAGERS. Now York, November 24, 1915. ALEXANDER J. HEMPHILL, fTialrman, Five Per Cent. First and Refunding Mortgage Bondholders' Committee. Guaranty Trust Com pany of New York, Depositary. FRANK N. B. f LOSE, hairman. tTa'iTv iirn trs For, Ye"r f mir per Cent- r,0,d Lo;,n rnA- aYlitlTs, LUto & IAJ., toners Committee, Bankera Truat Company Readjustment Managers. of New York. Depoaitary. JAMES N. WALLACE, ( hairman, Stockholders" Committee, Central Truat Com pany of New York, Depoaitary. Guaranty Trust Company of New York, Depoai tary for all other iaauee. International Mercantile Marine Company COMMON STOCK An investigation 4 the affairs of the International Mercantile Marine Company is now in progress and in view of the urgent' for prompt action by the Committee m be half of the holders of COMMON STOCK, the Committee deems it of the utmost importance that h"!d.'r immedi ately deposit their shares with the Depositary of the ' -m-niittee, United States Mortgage & Trust Company, No. 55 Cedar Street. New York, winch will issue it Certificates of Deposit therefor under a Deposit Agreement dated November 22, 1915. NO DEPOSITS WILL BE ACCEPTED AFTER DECEMBER 15, 1915, EXCEPT BY CONSENT OF THE COMMITTEE AND ON SUCH TERMS AS IT MAY IMPOSE. Application will be made to !t the Certificates of DerwiMt on the New York Stock Exchange. Dated: New York, December 7. 1915. JOHN 44. I'f.Al lI'V. CTialmiui UtWIft I CLARKE. DON VI ll t.. Cl BOOBS. AI.FRKD aV CKOB. Counsel. CHACNCK Y It. MVRTBBT, Seeretars 6ft Oder St.. New Vork. THE BALTIMORE MARKET. BALTIMORE, ix-e 14. -There srss eontlrmoO einrltr In tlie market here uniler llie lenj of Cwdsn ami SaimH.a Oil 4os.len oloaeil a 134, shosrtnf a email fra.1 Ipnal .1,-line, while Sainilpa ess frurstotiiillj hlftier Hniuls ere Qinet and stemlr Tlie aummaroi Oiren- 111 a t. 1.' Sales. ma- ;u Alabama Co . ... l.n, i . Alabama 7,1 ;.f ... B lie Anin.le Sand I Op HI Hall F.ler pf 4. . 1 Hal Elertrlc pf 40i, . i essaa Clsar f e.t IIIU e.t Iff. I'", 77 i.ii, 4 '. asvj 4 '. 4 . 0 111 11 13 IS 10 te.i 2fA COO Power 111. 110 114 114, 10 10 111 04 JKU 111 1 4'i 7.r, 1'ower pf . . 4443 ('ns lrn 10 4os,1en pf in Kill horn Fuel X Pulrl A netir.llt 114 . 13V, '4 . 1 .141 6 Flnanelal f;uar pi "4 nr. Houaton o.i si I Houston Oil pf ... n I4T I'niile KOfiQaOr.. . .IB ifri toonlpa K.j Sat'Ulta pf ? 177 Cniteil Rjs 0 Else a. llrt) Wsjland Oil 4', BONDS Jim, A 0 Uo 00 40.. or, ..mi Hij Si.ar IM 4',s HVi lr, nt, of Bait 4t T4 MV 11, s. I'oii Gas 4'-.s 1000 KlUhorii fuel fs..l'"'i. fcmsi Blahorn Fuel ns . S7, MSli Kair A I'lark Tras' da '. lam ii. . i.i o.i piv :', j4o Marrl and Klac ta tr.,1 Mt v VV I' 11 li, .res 00 iitno Mon Val Trao f-t ffi ln.l Cnl Rys a E 1st 4s nvj lOOil IT II a I lli.'.iilin 4s til ' ' ;-, Ill 4-. O'S tw !-', 0-i, -", 41 It'., THE CHICAGO MARKET. CHICAGO. He.' 14 The volume of IradtlM arse rather limited to-diy Peomlcs Use .-. Iretter, while smal rnlne were re,.",t..l li s sr. Rsi'-huck Dismnn-1 MOteh sisl Tllmo i Brl, k OonaldaPabls iotleBy was seen Ultdoaf I'lfht. but OBOSs were ttrtohanowtl Bonds conliniie Orm The sumnisry: Olie Hirli Iiw- C!o Salss. Inr 'St est Itui 10 Ant Radiator 3si, . s 3- MM Am Rhlnbulld k, KU 10' IT, Am Khlphulld pf. ', 30 Ronth pf "3 10 Chi Mr socles 1 IB) Com Ktlison 144 itj .", 74 VI 14f. lorot in f"a iwol ""', 73 10 14 I S, 107', a'l', 1 lo 107 '4 MVS 'N Hi iw ptaroond si at on. .rru J DlimiiH Bn. k ItTTfi Undaav l.'fht 0', SI Mont Wsrd lf ...W HI Nsl Osidinn D,.,iy4U 70 Pacific Oaa tVT'tj 070 People, Ons 111 171 '4j 11! lotu 17M, SS' 114 107 11344 linn, in 07 130 107 (.7 Pitniie aertneo u too Seara-Roebttck ..J' ii'', I HPS r 3!. t . wart Warner . 170 Swift I' 103 Union Carbide . lasv, BONUS I! two Chi Rys lo 71 )f1 Com Kdlsnn 0,..,.in3V4j 1imn Pla Melon deb Oalo, MM Mst Oold 4Ua..... 71 ru i 10HU TO TO 70 l34tj ioji aju Mi ino ler, 73 73 7d j.i Orden Oaa Is 004, foot 1041, si, moo Bas Oao est ras....loMs mi toao, loou BOM Tool 00 i.ii , ,0i tt Of 04 4. II. s. POOT, HI 44 V 4 . 1114 IIMOM). 44IIII4M 4 . V4N A.i4vrnr. 4 IIMMII rBB. IC . On riT rie NKMOI'RM I'llVMIKK ( 4)411' tM. Holders of rlvs I'er Cent Klrst Moii f .- Collateral Tru: ii..,.l Buii.ls of tl , K I Oil PONT .Is NEMOURS POWDER COMPANY me hereby aollfted ihsi purtu ant to lbs previsions of th,. M..ne,fe and Trust aarsemant, u.it.t Jiino ittii 101.9 bstwssi I. I In PON'l 'is NEMOL'BI POVVDKI1 COM PANT an. I the Mslropol). Ian Trust Cotnpaoy of tt.a city of New Y.,rk t..a: all i t tie outataodlni bonds, of iha l.os dsserlbed lesn. t.a.s .....ii called f r redomptlon on J.umary 1. ll, Krh of sut.l rs.rols will le redoemod at C Mild accrued Interest to aal.l Jarmsry 1 lOltl. up"ti preaenlattoo and su-rsnder thereof for Pan e.sri.n nr lha offt -f of ihe Metropolitan Trut i'oni.,iiv of th (fill of New Vork. 4 ;r VV a I street. Nev Vork, on and afisr J,nu,ry I, 1310. on whl. h data eerfi al sal hon ts atl 1 reae to iraw Interest Bsglsterod bonds fire sent,. 1 for beymsnrt .In u 1 hae proper y Oseoutsd powsra of transfer ottavboa th ..r'n Dated, N Task. Deoambor u. 101 1 M KTItnt'i 'I IT v.N TRt'SI POMPANV of Till: 'Ti v nr NEW VORK, TRUSTEE BBVBR1.Y ,'IIKW Vloo President 40 wo St...-. itcrjufh of llanbattaa. Near ork i lty nitlliKMH ami INTBBBOT, OBNBBAI ill Mil VI COMPANY. f;. liroa.l s: . New York, .n ivembei io I'trv 'Ihe r.'ilil ar iiuir.r.y lllvidead of One and oiie-nn'f par .lit (ItfOol al.: ri aad Ja:: i.i. I, i.;.i. r., Praf arred eto. kh..'.lsra of reiord nt i 1' M I noer !.'. 131... I.A.N. ' KM 1 l'.ll MolMA.v. Treasurer a. loss H.uiks. I Nt (I III Hit v I I l 1077 THE brooklyn Savings Bank PIKRREPONT and CLINTON STS, New Entrance ouo iuit.ni si. INTEREST AT THE RATE OF 4 Per Cent, Per Annum will he credited to depetitero January I, 1916 (payable on and aflat Jan uary 20th), an all stinu entitled thereto. Depooitt otade on ot brlore January 10th will dttw inteieot (root January lot. I I I I I 4 ltd V4 I l.l. HOIIIIBN. President. I.AI'ltl'H K (41 I ION, I 'mil lit roller. A It I til It O, IIAItr., l ashler. CltAO. 0, VI I N tM. A ssc Comptroller. NI4TH y. or INTENTION TO OROAN1ZB BANK Or CUBA IN NEW vnKK. V e ttie ttOdOrolOOad, hereby five notice of our tnteutloti to organize a Bunk, under mil pursuant to the .sws of the istate of New York, an 1. In conformity with tha BtatOta In Btlch 'Mies m'.'le and provljad. we bareby spe.Jfy and state aa fo.lows, to w it : First! The nanus of tlia proposed In corporators nr.: William a Merchant, JamaS T Monahan, Henry M Eat -. l. Halaey Ma sns. atont(omar U Lawlo. Second! The Dame of th- nr..t,oseil Itmk ts BANK OK CUBA IN MCW YORK. Third: The iocatlon of the proposal Hank 1 to he No 1 Wail Strset, In the Borough of Manhattan. City, Ci inty and '"ae ,.f New York. fourth! Th amount of Its raptta! staeaj - 'r.. Hundred Tbouoaod Dollara dtoo.. IN WPTNESg WIIEKBOK we have h-rs-..r : .ttVxed n.tr alfnatui., thla vid day of lie- araoor, ion, Wl : . rn A V.r hartA. Jam. - i' Monaban, Her rl M Kmt e. K IHisei Ma one. afontaomery it i .t. I TAB SEt l RITir.M CORPOKATION I." tear Mi I'er tent (iotd Notee I rauant to Article V of the True! aoreemeat, dated Oepts mber ltth. in, I tab MeurlUOf Corporate , "' 'ao Underatcnod as Trustee, to e ".. Tsn Vear Ola Per rent Gold No's, if Uie ,ld ru.li Securities CorporeaJo; . luarant) Trust CompaO) "f New York, a-s Tru-lra thereumler, Invites proposals la irlrlntf f.-r th.. sals to It of ttie a.ld note 41 nor exe..e,i!nK 1 u l and accrue,! Inter, sr. for Which purouaee said Trustee hse now i deposit Three Mi. .Ion Dollars lll.OtO.e Seeled propossja will bo receive by the III I r it: ..,1 nt i. ofllee, 140 Hroa.1-wav, New York City unMI 11 o'. 'ock noon on vtedneaday. Iie.-enibei tlnd, 1013 Noiics ,.f purohaoa of note toOll be mstlod on Peremher 73nd. lllf. snd the ' so purohaasd mua: he delivered lo rhe cndersurne.1 before tha close of biasl n. ss .rn ie".rntjer ;th. 1010. on which dale Intere.t will OUAAAMTT TBUBT COMPANY OF NaTO? YOB K. CRARbBB H MAH1N. lrsal4laBO ratai. Daoatuber oth mis imTMENlfS AND INTEBEST. tiEN I it v i , in viii vi COMPANT 10 riroed St Ben Vork. Novemher 19, lVl H An artra sr. n dividend of tve par oat o. and a speolal stock djvtdeno of bat par cant 110 I hv been ilac.ared upo His Oomntoi el., h of ths Company an, ab.e in Oon mon stock t psr on Peheuary 1. 1414. or es soon 'iiereafier ae th, same can t-e liete-l rniniiien stockhoio, -s i toy eha appe of r,v,rd on the .. 0. he f,'"iri,i v m tho . ., of boa nee. T,. earr.t er 01. I 1 . ANCAJ4TKB MOBOAB, Treaavree. "FncF; nr niANHorsr.B im.m (hrpobation Ntw lioohslls, n v , December I. mi Ths Board or Dlrsetors rma deciarsd frtont thi ti et oarnkiofl monthly dtviaend sf anf hall of ons psr rnt. (Wet) en ths stock '.a rompsni lo be pai.i Deeerabei iiit. t" stockhotdaro of rscoe,i or. Deeei 13th, i . i . Transfer booba eleee Dscatnl llih sol rr.vj,.n Osceintsr 14th A. i: J i in 1 is. Treasurer. tlffl.-e of The Cult,.,! l.ns Improyenienl Co N W. ijrii.i Ur-i.1 end Arch St rests, Philadelphia, Deo I nil. 'Ihe Hire, tel. 4.vh this day declared a, I Quarterl) dfvldetid ,f two per ces.t iiOe per share), pMl.e .ran 15. 1311. to etock I hoidcr. of re. ,.r. i.i ths oloas of business Hoc. 31, 1915 Che, ks will he mailed. 1 W MORRIS, sj rea,ursr. NATIONAL l.lliiHKT CovtPANT. PREPKUREU DIVlDlfNU No. St. iii.. rsaular Quarterly divhisnd of lVftjo . the Preferred OtoeJI of this Company sfl this day ben 1. ..red payable on Da. iinbai lift nasi In a i Preferred Sto-es ...oer, of record Deoembot utth II VI PET 1 1 r. It Kill l.. IE. Treasures. Dersmber 14th, Isio r i i.i ritiNw and MKirnxai. Tht Am.rlean Exchange National Bank Naw, York N- Vork, Lc 11, ltlt, Th fttm u i nietlnff of tho tockhoirlakra 'f this bnnk f r i h lf-ttr,n of D'rrtori will b ho. 1 nt Itn t'ftfiktnff houfoev So ltl t 1 r.nL.' t n y Nw Vnrk cm Tueadfi:-, January lUri. t.-i'' t 11 o ' lock noon r . oumx froni la M to I rj V M oiKTHWR P LBS CaJiMtF. truwl H'btJtT jiiI rnntrurtluu CorntjnoVB ftnn. The Am it MtBOitU.i; of tht P' I. if of tha VkR.VEWL RBAUTt ANIJ OOV . PTHI'CTION COnPOUATION for tho Ml. . tlon of Dlrciciora m4 MIMlon (t K jo-, lion to arv foi tho ueettillnil ".r wllj r- liti'l b ' lh ofTlt of the CompOj iV, Vro, lift HroOatlwdv Nft Y"rk mi V tinbr 1A. 191R, nt 1? o'clo k ROOfi oaJte4. Nt-w Vnrk. Pocenilior t, iv15. ,