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The sun. [volume] (New York [N.Y.]) 1833-1916, March 28, 1916, Image 11

Image and text provided by The New York Public Library, Astor, Lenox and Tilden Foundation

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030272/1916-03-28/ed-1/seq-11/

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COTTON STEADY IN
A NARROW MARKET
Uiiilerlonc Firm Knouli to Of
fer Resistance to Adverse
Influences.
1!U, KKHTJLTZEU SALES
T,i .1 -," Into rnnlderatlvii Ilie unset
ltd i'f i'1'Uilon that might luive
i,.p t.c ltd, In view i.f tlio tliililnj
t,f ' llritl"li Cliannel rteaincr fcuftex,
t, h .n i rlcuha on board, cotton allowed
t K ..J dc.il of utulf rl Inn t.tfiidlnrm
)fitc.ili Very llttlo attciilloii nui
ji.nl 'o the pour tutio of Uvrrpuul, Milch
r.a.i lvir than due, l'rlcca worked
in gi.i'in.illy throusliout tho efidon mid
i !( I .'t net advance of 4 to 7
.'Tit
Tlicie w.i.i ery little ch.uigo In the
,-nutli' i i Hot market!). AukuwU and
.vorfn.k, which reported declines, er
. aute.. only Hbout t-1 G cent lower.
,cod r.i.n Milted tho Intern belt, jmr-
en n'i AlalMina, but thin development
. t it. v llttlo effect on prhTP.
Tl ih.iouIiir rxtiact Is taken from
, i. ic on the fertilizer Fltuntloti pub.
II-', j jcMerday; "There lt unquemlorf
ah in t'ruiiol.il circles it rerlous mis-
'iTfui of tho demand which exlts
m :eur In fertilizers. A lot of sober
. rJcd Invesnom teem obce?ed with
i e op.nlon that because fertlltiern thla
,.ar ordain llttlo or no potash the de-:i-ir,
must hae fallftii off. N'otlilnc
Mil be further from tho truth, I'or
value. In oiio big dliitrlbutliiB teotloi.
f tin South the. demand thla telling
vmi!i to date la Bin times what it -wwi
i war hbo. In another section almost
-n.jhy Important It I four times as
-rye hS It uaa last war. It Is literally
i-m that the South this je.ir will have
" take every ton of fertilizer which
lbs Three' have for n.ile, and they
ta1 o It ut an atlvu-iico In price
i h..vv offrct, high hulphurlo ucld and
o 1 r increases In cot of manufacture."
Ve.ih ficlphta are bald to bo easier,
it If any Iui-kc amount of room I.
"n'fj liteh prices timet be paid. A
nl news agency reports that n large
of cotton could be sold to Italy at
a ury profitable tlpuro If It were pos
HMs to obtain room for tho entire
amount.
fritiment on cotton Is cvenlv dlvldel.
In jpl'e of tho fact that the hears eeem
'" be a little more pronounced In their
evpres.-Iori of opinion than the, bulls.
T!ic latter contend that the carryover
i'i this country will not prove burden
Mme. as much of It Is n.ild to be owned
eutrtjrht by foreign Interests and thercr
ore Is not for sale. It is atm pointed
rjt that a much larger proportion Is
ewred by prominent International spot
Interests, who have either hedged their
furcharei or have sold to mill for for
ward shipment.
Market cloaed steady.
OpeoHiih.Low. cio IYerloii
In; et. (ii my close
1I.M U -i II S7 It Kim M ll.:)Sn'
"-j ... t:.M jsos us; ij.i?hi:mj uoifUjn:
ViL. "11 !:S !-M '? '"' :.isir.ii
" f mtwr i. k -r, i.' it,: .v, p."7.ti
vy.. ujt t.: i:saui:W u xhu.h
Tie Icval market Inr spot (xittrm was
u.cl unehanrd MhMlins. t:f.v xouthrrii
v onrkel. a otli.nally retmrtMl were un"
rtn;-.i ; polnn aiUanon tn 7 l.olnl. drcjn.
Lrl",i'..,M,' Hl-etoii. i:.2Je.; s.
r Orlean market closed iead.r.
Open-IUsh-Low. i!,d. l"relom
est. en. inr. Io.
M - H3 !!!: J!3!f!!-2 H-5'!!!-Ii
n, ,r n is tl n s It '"iiu it':ii,'j" '
' - .i t:.W I. i'i 1; tin? t: ; Cil;r. I
. .. t t: l.-.itf t. .m:. ji t..i: Cut. (
Tii.r- n.f ., (juiet tiutiiet ill pot ci.lton
J'jti ni (Mi rj I polnl advaiKv. at 70d
fi b-iir"; reivlpti. I.WJ bales: Arlirr
i an ml CTosed Heatlj.
O.Tfll. lth.
Imw. Oov p.-er.
eft. Ititf. clofr.
7 lui 7..VI 7.MI,
ln r-t.
Mr-!,.April
MaT-Ju'lf
' Miruit
o Nov
Kfb
"-, I A
; t: ;m 7,1 1 7.r.-.i, 74.-.
7..I', 7JI 7.", 7 31 til,
. ln'-j 7.:t :.i:i, 7-3 7.lti,
M bid" to Liverpool wrre:
juiv. 11 pe tuioiier. r.'v:
i i.j i: -n.
Th inar'Ki-l tl.tre was du
11 lo-dir 5' 1 to S tmiiits adaiiec.
re'-ijitj 3iid KtK'i
x'ks:
If
I.an
I,lt
jear
.-j':.3i
sj.-;i
i:.m;.
;';.:":'
M'i
v''.3T
I.al
ear
:".:rd
.i;.t:c
M?,1SI
I.ail
.tear.
1UM
eipt
1,rlon I !'
,i- ..ltl, . ,..
.rear
M.'t
Vi :.:t
K.
1
floe'.t.
: !.'
p:t.7
'I '
1
l
; 1 u 1. v. .
T'l and Ptrn-k'
lie I.al
ci. 'IV ,f ir.
Mock.
IVJ.O'l.,
."i.:
K'.:07
i:.:w
1 l-l r S'i
. ut retrtiiii:
I
To iU.t
. '"i lo
a to .''"
"I- ld.l,.hl iv .. r r.. I.' A-
Wll,
. . !
I,-1
1
1.1
ltle.
Total
Total
'.' -ei-on. 3 tiales.
1 I ) " I buitr
THE COFFEE MABKET.
lntr Ucri'xlie Operations nn the
II ti Ins Mde,
. 'w,nl iriKl nr valuta In the eofTse
s 1 ,'f.i ,t neeli via" .train awarrnt
t w.tli s tinin moro a,,resive
' the tiuiliir side fotton K.
.1' -e 1 'nl in take inure Inter.
' 1111 bi .111.I tliere an flirt tier
r III'' MSle iiinillll-lilll liouen
" 'mi iimi ol the diuiaiid doriu;
- Uioin
1 hi "le.ulil.r and at Hie cloe
0 ' ')Aui ii t jraiii of V, to t noiiila
-.tit- nf 11 ji tia; IVlwito
tu UrHid (iridicteil smaller re
' iiriut iry Hinln and cutl and
it, - who a;alu linn, ltli salei
" ' -.iMijs t and r at I0'i,
' .1 ut , at ,e London credln,
' - ire here at 1" to 10 le.
i' for Kin "4 London credit
iiiiiorllien estimated the next
" '1 "run at I3.ih0.i) tiasa and
1 ni'ii .11 I,", 7,iJ bars, while
'ei. ,,t niii'tiiin lor nest eaon aa
11 ji' i'i") hats, iiiruinred witli
" - llir ireent season of W !V, 0f)
- I'wal ui ni.irlut a tteaity
is .utile demand tor hantos 4s
' w ie Itm T wi-re ipnet at y,o.
' 11 llr.iili in e.ihle. reported Wo
1 lMi'luti iin'lun;ed; niilreis
It... udv-tneod 7., let and hantos
- 1 ti.i, at itio lu purls were
.- a.iuist Aii last year Prloc
f- .t
Own llich-liw. Oo. I'rer.
mt f"l el. ill.-, close
" IOi4.t
' S.lnrliO 8 15
'' s.jo ;irn.,. s.is
r U.S) HI.'
K.14 i:i k.a:i.i.:n
' . ' ... k3'li37 s.:
" ., t v n: ,:;. i.w tz.
In - ... (J'llh 44 s..-.-.
H4;S4 fc,3
111 l.'l II 4.1 S..V),S.M k.43
. . . i .1, t .it i V) :.4ilS 47
1 . IWfO'll 1.01
MONEY AND EXCHANGE.
T - ' rk I'ederal Iteservs Bank
'1 i-( j,,.r cvut. for thirty to ninety
' ' i,.r 11 nt for lonitsr tdlls.
' aiku illicoum prime Mceeptanees
. up 10 ninety days S'aU:' per
r ,i paper rates were S'tfS'J per
' i'i ninety days Mil and for
' " rnmtllis list nallies.
"'1. 1 j yehWrday was unebaiiged,
,U3 per eont. for slity daia.
'S'l r nt for ninety daja und 31(3 i
' ' " ir tour, live und lx muntlis.
' -ify un Hie floor of the Stuck llx-
f ' ''e tfrilay ruled at I '4 per cent,;
'' it n'nt.1 low, li per cent,
it . Midiance was uin'liansnl, Klnal
"'''' i' wero; Uemand, (!;
! 1 lo
'1 my In fyondnn, 4-1 4'4 pr cent.;
, S 'rt t", per cent,
i .! u richaiigo on Now Vorki ft
"m xi" ,1111 I'ranelxo, 30e, pieiiiltiin.
"0
.... i-ti-i iti," tireni utn; airdiin, oc, 111
'"J in OI11cin1111.1l, par; Montrial,
ll .
- iF'iiiiiini,
T"iVlvSor '0"ian ! 1',M,! NfW
N'sw Vurk Clearing Itous ttinntt
"ebasres, ? V C . 4 0 1 , 1 1, I balance, IM.774,-
" J ury credit balance, t,tlll.
GOSSIP OF WALL STREET.
Xn Mlpe frH.
'tie of the xrentrvt traxous for the
Mr. t,gti ..f jcsterdiiy's nmrket In the
nice of lj.nl lifWH tm fiu.t tl,.lt
there was eiy htn,, ut0l. fr Mf, AfUr
tho llrst burst of selling by profej
tlonals un, scared nicculators follow
In the opening of the market, little
Htocl! was offered on the scale down-'
ward nnd ti nulft demand on tho buy
ing fcldo developed. As one broker rut It
yesterday :
'There wns no r.tie fnilt ready to
fall. The wind blew through the
branches and nothing dropped to the
ground for IIiomj waiting underneath the
trees."
When those who waited -tho people
who are fchort of rtockv found that tin
stock whs being thrown on the nurkel
as :t remit of the disturbing news re
garding the lom of American lUes
through German underca activities they
tried to cover anil found no Mock to
bo had "at the market." The Waldorf
traders and many of tho big specu
lators who are accustomed to tako the
bear bide u-e said to be sliort of United
Htates Steel, Crucible, Baldwin locomo
tive and nonio of the other speculatlvo
Mocks. It Is said that thoy are begin
ning to feel more and more uneasy re
garding their position every day. Offers
on their part to bet large amounts that
Verdun will full In two weeks are bald
to bo finding plenty of takers and ar
falling to have the detdrcd effect on the
market.
1'oretgB Melllag.
Foreign selling tu eiome of the Inter
national railroad stocks Is proceeding on
a large tculo and the fact that these I
tmes are maintaining a linn tone In
spile of the liquidation tspcaks well for
the technical condition of the market
and th Investment demand for dividend
paying rails. Tho foreign belling of
Pennsylvania sines the tint of the year
tu iald to have been In eicets of 60,000
shares. Atchison, New York Central,
Urle and other rails which have been
giving good accounla of themselves re
cently are raid to have been heavily
sold by European Investors,
Overplayed.
Interests connected with the reorgan
ization of the St. Louis and San Kr.ui
clsco Railroad Company say that It. K.
Yoakum's) opposition to certain features
of tho plan for the rehabilitation of the
property seems to be undergoing u de
cided change. In other words, Mr.
Yoakum Is tald to be manifesting more
of u deslro to compromise than at any
time tltice the railroad was placed In
the hands of the receivers. He has been
ono of the most strenuous opposers of
the various reorganization plans, but
wl.h the shadow of a foreclosure wtt'.eh
threatctss to lpe out his stock hangtug
over tho property he Is beginning to
eco certain excellent features tn the plan
that wero not vlslbto to him previously.
In the words of one of the rcorganlzers
of the property :
"Mr. Yuukum was told pretty plainly
what was what at a recent conference,
and seems to be acquiring wlbdom In
beginning to realize Uiut he overplayed
his hand."
Meet flafjar.
American Heet Sugar common was
one of the strongest Issues on the list
Cfterday on prospects that the direct
ors of tlm company would declare n
dividend lit the rate of 6 per cent, per
minimi at their meeting on next l'rl
day. The stock opened at 70l-j and
sold as high us "4, equalling at that fig
ure Its top for this year. It closed
at To, a gain of 2 points for the
lay. The company Ls ald to be earn
I111; between :0 per cent, and "5 per
cent, on Its common stock, owtmr to
tlm great demand for migar from abroad
and th.' hlch prices which that commod
ity 's brliirflup. The company paid ;u
Initial duidwid of p, per ent. on
Its coiiiinoii stock in Novemlier, 1 9 II,
and continued this rate to November,
HI:, Inclusive. In February, 113. the
dividend was passed and none has been
p.'i.d ilnee.
I Hiiaillan Hiiiids.
Distributing bond houses ri'jiort that
there is an excellent demand for the
ITS.UOfi'.iiyii Dominion of Canada S per
cent, bonds which were offered to the
public last Friday. Investors are said
to be especially anxious to uoqulro the
fifteen year bonds due In 1931, the de
mand for this Issue far exceeding that
for the maturities of 1021 and
t'atia Cans sogir,
A stiffening In the prlco of raw . ugars
and riKrts that the Cuba Catio Sugar
Corporation had Mild Its entire crop for
Uilb year to a tlnglu purcha:er wero re.
sponsible for a rlci of I'J points In that
sto-'tc yesterday, earning tho prlco to
a closo of CO, against (Saturday's) final
quotation of till1. At one time during
the day tho stoek sold ns high as "OS.
Ah a matter of fact the company has
not sold Its entire output, Hlthough It
has liecu given the chance to do so. The
corporation's directors bellevo that bet
ter prices will be obtained fur the unsold
portion of the crop If It Is held back
for a time, an the outlook Is that tlio
quotations for raws will go much higher.
Interests Mosnclatexl with the property
suld yesteid.iy that tlio early estimates
that the Cuba ('alio Sugar Corporation
would earn from -0 per cent, to per
cent, on the common stock this ear
might now li considered as below what
tho actual returns on that class of stwk
would lie. The crop Is said to be III ex
cellent condition, the weather Is perfect
for grinding and the outlook for a big
production is exceeding the hopes, of the
founders of the corporation. Huers
were bidding 4'!i cents a pound. 4Xiat and
freight, for Cuban raws jesterday, whllo
holders are firm, making no offers below
4'i cents 6. pound.
Hon them Itallway Karnlnar.
Kouthern Kallwny lost of a
point 09lerday In spite of tlio publi
cation of one of the liest earnings state
ments which the ppperty has Issued for
some time. February gross earning
were jr,t;'J7,lfi2, iJi IlicreiiMi of 1. )!.
753 over the correi-pondltig month a year
ago, while the net of Jl.r.Sl.lSl showed
a gain "f $96,017, or tnoro than 50
per cen. For the night months from
July 1, I'.'Ij, to February i'J. lOttl, gross
earnings iimounted to ir.,.'i!l,977, 1111 In
cieasc of 93.&rti,99S over tho same period
last year. The net earnings for the eight
months of 1 1:1.33 1, 2'.iu showed an In
crease of 4.9S1,621, an Improvement of
moro than per 'ent. over those for
the corresponding period last year.
Spring Vevrr.
With the first days of spring the fluan
olal district Is 4'xpectlng that seiium's
rlso In the stock market. Wall Stteet,
which Is always more or Us ruperstl
tlous, Is a tlrm believer that the weather
exercuita no little effect on security
prices. It Is convinced that if the news
breaks badly on a dark, gloomy, cold
day a slump In prices Is to be expected,
whereas If bad news comes In a bright,
sunshiny day the chances aro that the
market will take It In a butter manner.
The Htreet thought the fprlng drlvo had
come a fsw weeks ago when we had a
few warm duys, but tlio cold weather
came back and fitocks lct their gains.
Now, with three fair days In succession,
hopo h onco mora springing up anew
and tlio Htreet is eugerly waiting for
tho sap to start up the trees and the
prices of securities to soar.
4'nstoin Iteeelpts Yesterday,
The total receipts for duties
at
the Custom House enlerday were t&za.
U.:, of which 12iJ,:ai.U was for
merchandise withdrawn from bonded
warthouM and 37,15.17 (or recent
Importation.
Guaranty Trust Company
of New York
140 Broadway
Fifth Avenue Office, London Offtcti,
5th Ave. & 43d St. 33 Lombard St., E. C.
Condensed Statement, March 17, 1916
RESOURCES
Real Eatata 2,612,703.84
Bond and Mortgage 327,819.17
Public Securities 29,623,120.82
Other Securities 40,440,902.12
Loan and Bill Purchased 336,01 1 ,162.91
Cah-on Hand and in Bank 82,338,499.68
Exchange for Clearing House 20,358,394.13
Foreign Exchange 17,018,996.12
Credit Granted on Domettlc and Foreign
Acceptance 48,591,922.57
Accrued Interest and Accounts Receivable. 2,697,837.74
8580,021,359.17
LIABILITIES
Capital 820,000,060.00
Surplus Fund required by
law 4,000,000
Additional Surplus not re
quired by law 16.000.000 20,000,069.60
Undivided Profits 4,118,520.01
Outstanding Treasurer' Checks 10,200,948.66
Accrued Interest Payable 1,819,357.99
Reserve for Taxes and Expenses 302,921.59
Foreign AccounU 4,792,871.89
Domestic and Foreign Acceptance 48,591,922.57
Depoiita 470,194.816.46
8580.02U59.17
Deposits March 19, 1915 $259,699,860
Deposits March 17, 1916 $470,194,816
The Union Trust Company of New York (established in
1864) has for many years made a specialty of Personal
Trusts under Will or under Agreement and maintains
a carefully organized department for handling them.
Many millions of dollars' worth of property real and
personal have been entrusted to the company by con
servative people, residents not only of New York State
but of other states in which the Union Trust Company is
authorized to transact business.
Correspondence or interviews with persons considerinr
the formation of trusts of any kind for themselves or
for others are solicited.
UNION TRUST COMPANY, 80 Broadway
CAPITAL AND SURPLUS - - - '. s, 162,000
NEED AT STEEL MILLS
SENDS ALLOYS HIGHER
New Contracts for Frrroinan
Mif!.c n( !?175 Small Lots
at 17 Cents a Pound.
flevl couumnlfM In tlio KnMcrn H
trlct. ii a xhoftt In thu ctntml
Weft, -crit!titt actively 111 tin market
for Mi-el makilit.' Hi: Iron und for heavy
iikitlni: Mrcl n i Contract!1 mine to
tll- tur'.tce .lrilny uuiounttliK to
ntjrl Sii.nuu t.i.ic, Incliiill.ic ime lot
of ii little iinire than lo.Oim hum of ills
Iron to be (ilijiii from laki-1 into the
i:utcrn ilu-tiict tor ilolivery over the
mud u'larti-r and rccnml Imlf of thl
year. Another f.ilii of about IS.Ofio tons
of fcteel meltlnc mt.ii hh made hy
;u i;..tern mill for early flilimietit. The
lontract h vaM to amount to uliout
f0,l)0". .Similar contt.-ictn are pfwh
Inc Mini arc likely to be cloed In the
nel few dah. Ona New Jeey In
tel est l.i Hill In tho market for 0,000
loni of basic Iron. Low plioihoriM
Li Marco and wanted In llienl toiuiaijei
for this yearn delivery.
Sales of foundry Iron nwdo last week
in the territory east of the Alleuliatiy
Mcuntalni iroie to !me been nearer
TO.OhO than .lo.doii ton-, an fevrral con
traetn nero v'acol Lite on Silurday.
The Iojii of th" m.i l.et If ftl'oniiir at
MufCalo and ,iHd III rai-liTli lVlini") I
vanla, with tlio tendency toward hlRher
Trices, as tno of tho large hellluc In
terentii at Huflalo haie nil their entire
furnace caiiaclly fur the current ear.
fc'cmo Mocks In the. lake dlMrlct, bow
ever, aio tl til oflered for early Mil
lnent, jirob.ibly ..n.'ino tmn of various
KrndeM aro available, lino teaturo of
eoiiFlderable lnteieit the demand for
foundry Iron for delivery over th eo
ond quarter of this year, lndlcatln that
u niimher of coiu-tinierN who were Mip
lKied to have icUlriinenl.s rovered are
tttll In tho tnarl:ei Several jvilew of
iot Iron were al.-o mado by Jluffalo for
nach for I'Liflcru delivery
...
M.mufai turlni; UitereM in New Knc
laml, e-ieclally in .Mani.uhuettK, are
umlerMiiod to h.ivn closed additional con
tractu hu foundry iron anKieif itltiK le
twei ii I . lino nnd L'0.000 ton for hip
lnent mil' the Lint half of 1U1C. Very
Ilttlu of tilth toun.iK" In repotted to have
cuiie to IliKfalo fiiniiicen. Ill fact, one of
the lartfn ptoducerH in the llun.ilo i-ec-tlon
ilurlm; thn current mouth has told
only about " to 2 per cent of talen hk
sresatltiK ?ri.000 tons for delivery In
New Uiiulaud. Canadian founder, how
ever, have been lartsn ptircliaM-n- of
baBlo and foundry iron finm fiiru.iees
this ride, of the ureal laken,
Tho rei'ord bir.ikin I lie .it which
hteel minpauliK aro opTallm; keeps the
alloy market in excited condition be.
caiue of Ilie coiitliiued ncllvc. demand
for bolli fenomiim.MiHre and cph'Kel
een. Several additional talix of thene
alloh have I Ii made for shipment over
the Hi .-t half of I'Jl" on I It.. baniR of
fl'7i for iSU i r ci ut. iimIikiiiii-m-, while
Miles of pplt'KC-t havn been m.uln Htprlcea
raiinln from Ji'i.'i to $75 for 'JO per cent,
for Hhlpmeiit over Ihfl laM half of thin
year. Thin is an lulvanco of from t.1 to
11.1 per toll III filei;el, I'erroinaniraneHe
for arly Khlpiiieiit !e nlmo.it unavailable.
Home rtivill loin liavo miM iir IiIkIi nn 17
cuitK a pound for prompt hhlpnient.
Several new liiiUllieH for foundry
iuhKIiik KradeM of pl Iron came into the
market yesterday for ICaMern delivery,
maklliB u total of about ID.oOrt toim now
under ncKotlatlmi for Miipiuent over the,
Litt half of the year Including' uteel
inalflmr Iron about ao.nno tonw are under
licirotlatlon In tho local territory. In
nulrliH for 4xpoit arc Mnallir both In
number and tonn.iKe, .Moid of the for
ihcn iniiilrieK arc fur Meel inakluK
Bmdr
Tlio euniinous ilvinutnl for Meel barn,
plutea and MuipeH vviih rellei'lcd yeMer
day In un advanon of i'J a ton on barn
and BhapiH and n ton on platen by
the CarneKln Sted 'oiiip.iny, which U now
HUotliiR '.'.Ij cente for barn and Mnipea
and " 7.ri cent for plali for elilpiuent
at tho convenience of tlio null. It h
t.tnted that none of the Steel 'orporatou
HUbsldluji'' iiro NellliiK Meel at pre
inluinH fur prompt ehlpment, but tiro exe
cuting, contractu In tlio ordur that Kneel
flcatlonn are received at tlio mills. This
THE SUN, TUESDAY,
l:it advance In Meel Jvars may force
another ris n wire producta lieiore
the end of the month, but the policy of
the American Steel tw1 Wtrft Company
Is to keep prices as Meady as polbln
under rrcent excited conditions.
Tlio Riltlnmre and Ohio Itnllrcad li.m
placed another contract for two unall
brldKen at CIiIcsiro callinc for 200 totu
of Ktructur.il Meel with an lurteiK-ndent
fabricator. Thn Souther- Itallwav yes
terday put out tmiulrlen for a number of
m.ill brldse" which will reuulro al-ut
1.000 tolw of Mmetur.il Meel. T1i
MoMon Ulevated ftallroad, In connection
with the city of lloMon, haa arked for
tendern on the otiMnictlon of two bae
cul.i brldsee, which will require about
I.KUft tone .f etructur.il fhape., T. ndert
.lie to Mi.iiill,,! n i Apr ! .1 HUM
e.ir, but the it.ctlon of th hridee 1.
not required until Apr'l. 1 31 T. The NVw
Vork Shlpl.ulldmi: C..:iip.inv bar nlven an
order for MO tons of ttiu. tural Mia
fr an extension to a machine thop at
Camden, .v. .(., t lle McClnti....t,,r.
hall I'niiMructlnn "otiitun .
Manufacturer of high explosive Miells
tlid It dltllnilt to piarn lart contracth
ror Miell tern, but a number of Hmall
oi doit, runnlnu from I.oflO to 3.000 tonx
each were placed yeMerday at cnts a
lound.
IRON AND STEEL MARKET.
Pre.. , lirmanrt for Platen and
Minpr.
bar. .n,J Hi.it.., n,l s lit- " , ..?,, fn
I '-Vry. " ,'"''denc. of th ,iu.
noted. e!eK,ere M,i,uf.fir,r V"o
f?r rl'"" " "iidernoo.1 I!,'
cnr.tri.ct fur iwnny .., (.., hj,;
Vi'.r.?'1 rt,url "e mouth. niKklnr tout eon"
traeit lor Mxt l hrMi for Like and
oe.ii .nlce pUeeij ,tnce th. KrM of tl.
-:XVr!'1 "'Idltloiial eontret for fontlnjt
were -Ueed fler.Uy. tncludlar tt
of 0d tuns f,,r U.tt.rn iii.imf.ctur.ri
and contract, for hot io ooi) toiii f"r
th. m.mutacttire of hleli .xplo.lv. Will
and about J.noi inUH tor railroad work at.
V,",1,"" I!:',,Vu.tl011: "lret ralla.y. i,,,,T
tin . Hinlvelv la in. ni,.rl(.t or irB, , j
J. J'l'i'V '4.'"' ".""'.r .,r" k ,orl "i '! ir
for high T un, I clr.ler r.ilin,
,i.T,. ,1e."ul"J, f,,r "Ire prmliieia eon.
L"1"-'' ,vtrcni.!.v n. uio notwitiiM in.lliii
th. fullliiK on In oni.ru from in. ' rri.
eiiltiiral rtl-trkt. -II,,. MurJli mV of u.e
Anierlenn HI..I .,,! wire OoniiMiiv Jrl
"ii.1er.tond to l,.v l.t.11 nt the int. of
SiO.OOl) tona fur the luoiitll. wlil th.
eajLelly . .hot :i.nuo tn, , m"tl
roii f.,r th. mt in. time Tim Standard
ll Company of ln,lUnH l, ..rder.'t oni
Hwltchlnit endue from th. Amer.Mn Loco.
Iliotlv. (..'oinpHiiy
THE METALS MARKET.
Ilnme.tlr l.'aera leely llay1BB
riiilahed 4 opper.
DonifMIe iiiHiiiif.ittiirern and rIIro.irt
at. TmivIiib fre.ly of imui,.,) eopper and
eatlnf.irtory nrdra al. .us iiiintne front
at.roj.l for wr nnd rn.Ja. Cnniieniiently
eonviiiiera of eop.,.r ,m. ,.B l.avll.
'. mi-ir rr.iuir.iiieiu,, p.r tin '
wnillRllI iiqiper lire covered for April und
stjy, Mn. cunaumer. also have ImmihIh 1
unite liberally ol ,lune, Producing
lere.u are taking few large nlltraeta, hill'
lliere N a f.. r luu of mii.l.i r,ir. . i
JJ't fr April und apot und hi ;'Si-
for .lime. July and .V.igu.t .lilnin.nt
l.xporta reporteil Mine iui I'rlilay aggr.
gat. 3.5l tima, making Mar u export" lo
dam If! 9:3 toua Import. rep,,rtil vo.t.r
dav Ineluded o ion hura from i.'hll.
The I.mdou market ivaa ateiid at fi.V.
for Ainerliaii tlleuirolytlci apol atambird
w.u up 1H. and future were ndvanerd f:
to nun (Ii; reapei'lhely.
Tin wax atroiiK.'i' uliroad i1li lilgli.r
prlie. for all poliona at hoiulon an, I th.
Stralia. 'Ilie lot id market v. aa qtil.t, put
allopath. th'ally tiruiig .it 4Hvc, in r,n,t, fi,r
M.ot. 4Sc. lor April and 4 u "v i in (;, for
May. 't'here l eonu demand for June
July ahlpni.nta fiom the Stralta, but tew
If any offering, and prle.s r. uninliuii,
Til. laindoti inarkul Hdvaneeil ft on apot
St rait to ('.'03, Mamliiril mtvaur.,1 fi if.-
on apol to f 201 10., hihI Milviiicrd fl on1
future, lo IIP.'.. Tli Miigiipuro market
roc (I lO.i, to 1194. with a.Tea nf 4". tnua,
Tlio nieamahlp KathUmli.i hit .trrlv.it n
New York with I, noil inn., making March i
arrival, at Atlantic porta XViis ton.
I, ..ni win leaa active, nut tlrm uL I i.e.
Dual St, IioiiN for apot March and April
rhlpiiiautK, The Iioaitoii marli.t waa atrady
at far, r.a, for tpot and iid, higher for
futurea at (3,1 H'a. iid.
Hp.ltar waa ateady but iiulei nt l"'c, for
March, I7'ie. for April, H'.jc, for May ami
tile, for June al llaal M UhiIh jn.
London tiiark.t adx'aiii ed In Cfn. for apot
and fx.', for fuliirex.
DAILY FINANCIAL CALENDAR.
Company and Term.
City Investment, quarterly.,,
National IDKUlt, quarterly,.
Heading Co., ruarlr
Slk
Ami.
li
pr.i.
rum. 1 K "4
ptd. 1
MARCH 28. lfltC.
Sulzberger & Sons Company
First Mortgage 6 Twenty-five Year Sinking Fund Gold Bonds
To be rftt.ed April I, WIS Due April I, 1041
fatrrral piyabln April I and iictober I In New Vork t'ltv
AuthorliH: I38.000.00n Piwnlly lmah. l6,(MKi,onii
Coupon Bondi In denoralnttlou of $1,000, retiterble a. to principal. Ileghtercd bond, tn ilenomlcitlonx of ll.ooo, tn.twi
and multiples. Coupon and Itealatered Bond, will be Interchangeable.
Annual Sinking Fund beginning 1017 of 1 ' ', of bonds outstanding to be used for purchase
or redemption of bonds. Bonds to be kept alive in Sinking Fund.
Puldrct to redemption In whole or In part on any Interest date al 107t nnd accrued Interest upon tight neks' notice
Guarantv Trust Company oi' Nhw Yokk, Tkustkk
The niorlR.'igc is in the course of preparation ami temporaty ccrtificntcs of the Gti.ir.inty Trut Ojiii
pjiny cxchdiiBcable for Bonds are cxptxtcd to lie rrady for liclivory early in April.
I'or detailed information concerninR ihev I'irst Morti;an lioinK vc refer to a letter tint ml March 21,
1016, of Mr. .la1. A. Howard. Vtcc-I'rcsidcnt of the Company (copies of wliu.li sltonlil lv nbtnined from llw
undersigned), parts of which letter he has snimmmed as follows;
"Sulzberger A Sons Company is one of the four largest packing companies in the
United States.
"The business was established in 1883 and its history has been one of continuous
growth. Gross sales during the past fire years ha?e increased from $91,000,000 to
9123,000,000.
"The business is a stable one and profits as a rule are not adversely affected by
periods of financial and business depression.
"The new bonds will be secured by first mortgages (subject to only $323,600
miscellaneous mortgages) upon all the manufacturing plants and their equipment,
branch properties (owned in fee) and practically all other real estate of Sulzberger A
Sons Company and its three most Important auxiliary companies, including the pack
ing plants at New York, Chicago, Kansas City, Oklahoma City and Los Angeles.
"Further secured by pledge of the Company's entire holdings except Directors'
qualifying shares) of the stocks of its important subsidiary companies.
"The earnings of
A law un v yutauvi w uuuo uuuinisj a
statements prepared by Messrs. Price, Waterhouse &
after providing for depreciation of plant and equlpmsr
other than Interest on loans to be discharged out of pr
bonds, averaeed durinr
on such bonds and for 1916 amounted to nearly three and ono-half times such interest
charges.
"Net assets of the Company and its subsidiaries as of December 26, 1916, exclusive
of good-will, patents, etc., and .after giving effect to (but without doductlng the
$12,600,000 bonds, amount to over $36,000,000 or nearly three times the bonds.
"Net current assets alone on the above basis amounted to over $11,000,000.
"The Company has outstanding $9,678,200 Preferred Stock receiving regular quar
terly dividends at the rate of T"0 per annum and $20,000,000 Common Stock."
Application will, in due course, be made to list theje lond'j on the New York and Chicaco Stock li.x
ch.inRes. Mr. Thomas G. Wilson, who roiRtied the Presiden.y of Morris & Co.. ( .hic.iso, tn accept the same
office with Sulzhcrcer & Sons Company will he in charge of the management of Hi- Company.
Price 100 and accrued interest
All of thr
Hallgarten & Co
25.000 IN DRUGGISTS CLUB.
Will Oerapr Qnarlrra In rr l,nni
tiland 4'ltr nnlldlnst.
A .'lub of retail driliCKlate. vv Itli '.'..,(.00
liiembrr!.. It vv.ta iiiiiiuunced yesterday,
will on'iipy tbo top lloor of tbu new
otllce) bulldi'iK of the American Unic
iletM Svtidl. .ite I. mt Uluml ''"
Mlicll t'lM . t'tr. " completed Uft
MlllUlier I. Vllet:. ;' .'f till' cltib w II l-o
eMendod to ,11 oi. 'nl.er. ..f Hi.' - ndli ile
liicli nuinlxia .iln.in J.'.oo in "iic.it'r
New York almif
Tlio ealeji of the fviidlc-ite ilurltit; tb
rit iiiurbT of 1916 est-ibllrbctl new
high recordf, .tcconllnt; to tlio n rt of
C. II. CloddHr.l, the president. fuUv tu
January, lulti, .weeded ealea In Janu
ary. 151.". by H.Ji'o a day. I'ebruary
mileH vicrc ll.oi'O a du sreatcr than tlio
January valor.
COTTONSEED OIL.
Mnjerale advalc:a were r.curdfd 111 flie
oil tut diirlns jeaterdny. te.elon The
nnrli:i; Jrnni retltirra wire IlKht anj tlirre
nra very Utile Mcu'tive preurr. rrut"
ni unit nt i.'I, l.4, but a' Una rather
lata d.itu Ihrv ih.i uiu It attention
beluc nlvrn to i. rude nil niarkeu onie
atllhnrltlea a.y that th r. I- a trtiit; h rtiint
ill the locAl llldrkel, iimIi.ic t'r M.lilliP'll
Intfre-u, i.iiouiiiini; 1- u.'.rr tit tt '.'..,i.o
barrel 'I'll, rnitlin. ic In the ir.oto la
inure nitxe.l tin. name
I'n v .
r1... UK . ln.e
pr. er tllil.
Spot IC70 11 75
March Vi "r I!.: ; "
Mav lu.aSd 10.31 0.3
July 10 13 , M.ii ln.r,
Sept .1" 0i 1" l ie TJ
Oct. . .' .-9 U
DAIRY PR0bFCTs"MARKET.
MUTTKIt -There waa not eneufb tlna
table ato.'ll to ITtrt tlelTlandr, n,1 prleee
wero adi.n.'l Sc. e.eriU). Thla aa
a p.r'UI reiovt ry .rout the de.-ilne- of
lait rik. Til .i.lv ait h Ma. prim tpallv
oil l.t atock, tile Ulidtr arade. I. lllalUllIK
prtctlcally unchain;'! 't'radinc waited
and th market closed tl r iii . witli an up
ward tendein y. I'rt. 4're.t m r .v
tras. ?" a-'or. , Is pi :is' i3e . bUllT tcur.
inK lot-, a; .i 3. St : (jret-. i -
otida, 33jiaic. tlllrila. .11"lJJ. . llliK.il eii
fan'-y, 371 3'ic . priate lu i lull, f i3,"c .
held extra". 3' t 'li 3t!, . Ilr t 3lu'.
aec.lll.la. :n31''.i , thirds, ailrl.Hc . Slate
dairy, good to print', Stflr.1.'n' . raitovnted
tra. "t iS'J'ti . Illata. V7'vU ;'sc .
ladlep, rire i . !'(i.'Si,.l l.ailtlui; Mo k,
current make, line, vie. No 11 'c
i-llllUSli -l.n.rtr buiirht ra'het
freely of line Mate atock etrdav Till,
rave the inarUet a llrtn tone all day
On nude rprli'd eooJi III market re
matne.l the ..tint' aa at the close ou
Satur.Uv and there waa not much luiiulry
Hklme continued to l.e acaree. but heavier
receipt, are pe, ted before the end Of
the week Market cloied M"i.!. t'rlcea:
Klate. whole milk (lata, iirw apvluU.
lis, A 14'c,; avernce fancy, Huliy,;
current mike. 17 it ,1 7,c , almtle da.
lei,, lSltc,, ilalslos, ts,Hlvc. America.,
held and (re.h, t'i:u,' : Stale aklim, hrhl
apeclale, ltHv'4l7.' . current nuke, iUt
'II ttic I choice, 144dli';c
lMsIS Willi an iiuretsi',! t-upply jee
tirday, itie 01.11 ket opeio 1 lutlve. It
reiuuliii'.l It r ttt. lohl.ara liUInc on luriie
UUantiHes to meet the In, ri-aM'd ileiuaiiil.
'I tt I nave the tl'arket ao lino a tone that
there waa an .n-t.-,, e of iji- tor Hit and
dlrtlea All t'.. k Is runnhiir f.ki.I t veept
onte from 'leva., which alio a lonslder
ahlo h'al, but Utile atock tiaa been put
awaj. as the e earlier ht" t'een too cold
for rafe atorniK Vl.rl.el i'ini.l iirm
I'rleea: I'resh i;.lher"l. evlr.iK. .':ij n:t- .
evlras, tlrm CI. 'fi':''' llmta, "1 0 '.'t ai . .
aeennda, :t.(;l)'a' . .iril,r luvv .1 20c.
iieirhy Ileum ry wliliea '.'a'vuSI. . brown,
'a 41 ;3e Olive, I, J I ti Jlli-
litt;syi:i I'm 1.1'ltV- lleielpta vi-tr-d.iy
were 11 trill' 111. ire than 0,1 thr patne
nay last week, but .tn-re waa not nifln 0011
fresh killed flock lo oieci the demand
Thr 'vartii.T wraliier In tin '-nth liua
forced shipper. . ii poitt'rv in Parte.
and tome of Mils .itrl.. vealerda) 1.1
riiilnr had condition I lo-re wire vir
tually In ch.lllKCs In iiunlalloua from I lie
elope en Saturday 1110I tr.ulliiK wris uiirili.ll
There w-aa a 1I1 10 ind lor rrch I.I1U.I tijr
kr)S, without slock Iii Mipply II. I'here
war no a iltailve tiUMIlc of frnietl slo. ka
Market 1 lni-ed htlol) fteadv. I'rliial
Turkea, diy 11,11 kid Western hen,, and
un Iry picked, fai.cv, :iuc. : fair to nood
n!'ft;Sc, chicken-. I J 10 l.ox, W'esn rn,
milk fed. 17.1 111.' coin ltd. Hli 17c I
fnnla, I" lo i...v. dry puked, Western, tio
It., nnd t..r 10 ilnen, siic , 1:1 to 17 lb .
IS'sc uinli'r no IPs, He Western, diy
plelttxl, ., Ipa ami titer, 1 1" u I It ij c. , I 'v lbs,
lour 19'jC., 3 I ha. nod under, ll'ijilr.c.
Weatvrn, rcalilcil, turi.' . U'ttill'ci 'dd
rntwtere, 14t, tilic K'luibs prime whlli,
in II,,,. tn ilneii, I.Suii. 0 U.S., :., 7 It.a,
13.7.'.. turkeys. fr..n, neleeted ouni Iomo.
; . tonis, 3u. . It NaH tt r v pi kc.l, in. iaur
heit V. 'I i'n' S" 111 0 '.'8c , broilers,
IS to li 11 to :l li. int. com f, ,,
fancy. '.'il'. Vi chicken- U to l,..v mil,
fed, 31 to r.s flu Sir 43 to ti II.-..
l!;c. . corn fed, 31 lo 3i Ilia,, Sue; 1:1 10
47 lb'., 'J04i4.'lc funis, Western, boxed,
0 lb. and ovrt, lanj, I9i-,c, :iti Ut 1:
th., I7lc; old roostera, 14', ra lCc, ilucka,
Ionf Island, :ot(21c: WMtera, Uttillc-i
gtu. Wretern, ICQtt.
Suliberger ft Sons Company and
rhouse k Co., Quartered Accountants,
equlpmsnt and for all Interest chirges
I out of proceeds of those tl2.600.030 of
the oast two years over three times the
The abore titemente are not guaranteed, but ac liellevu tbem
abocc lumdn having litvn o, thin
appear an a waller of rcr.mtt unlu
NEW YORK
Illinois Trust & Savings Bank
Continental & Commercial Trust
and Savings Bank
CHICAGO
PUBUC UTILITIES.
Ti I'fbruiry r-M-ort 'f nt'i' -tut
'IpllOnl oinpHh' dl" f rocs art,
IriKi if fl ! .i7. un nir. t-Mi if i . . s
over th !ur tor re uui , i .. tr, i ,t
urplu ot 13. 5H
Tin Twin ny Ij!nF fport cros
tnc for !VlriMry nf 4.0 mi In-rfio
of 13;'..; 1 o- . r id tK-ir-- r r I 1
ll lit ,iri 'i. f I .11 : rr,
-f f i! , I-,- . r 1 . ,.i
li. rmf '-f 1 1 1 ;'
I ' - U. f ! 1 . t I,, l.e- '
i !tl PTM 'rnp.ij rpMr-.- tsv-- t
U.rf "f K. 'T. u thin ..f .;
ot 1 "i '.trn un -f ti,ir '.
:tii v f I '1 T.4 ;. -ni tniui'
dlMi-ti U of .!;; , lix-rif of it-
fii;.l li,-r n p ! tor r'brar Vn
pnM eirnltiffH of I t:,t..r. I, hii iiiti--m'' 4t
13-,;3 over Mip lUurfi for t In- ime in.-r' l
Ukt yenr. ti t .11 nliigi nf I '. n
of 41 i -urpiur .t - : ;. ,nt in
Th IVl.ruHrv report nt t!i l4rlHi.l
l.lcctri'1 llluinutiiiiiitr 'iiipa i l I
rro rrniiip i.f fn'.'.'jy,, an un jk- at
$,S3 ir th' tlxwr-r f t r h rtc itm;
rbruitry, u -.ri.tr;h of C-JXi".'. J. Mt. tu
crnc of IT Ort". un I . PamiR ifiet
Charctn of lit..;..', lii iii-rftsc of JT-'-
lh" -I'ltUlmtir It.illuuxa 'inp "
port fnr 1-X.runry pro" r.irh'n-v'k "f JJT: -or
nn it, r of iUS.Tu'. otr th
am inon'ti m 1 ')., -mmI ne( taroMitH f
fs.i,; or . Ktt-i of fa,;,:- vm w
plfxru i i'm tl -Ml 1 FVhru"- t;i"-
Mriiitci' ir j;,'vUn 4.r t t r 1
ttiAh ii tliA KHtn trrft.l )tit vur al'i I-"'
t tritiui: -v . t f i i i . , , mt in rt s nf
Tl .l .l'rf't i I'lUVlT O'llpMll , M M.t.-
fldUry or Mi' .;.lnm ir.-i-ttoti. tch:
Hint r t'oinjvui , fcpurtf fT Kftit jh"
rro fkrtiiux of t m ptn of f.. .. 4
oier tl. pif.'i'i!iM I' urtj.tr . ,4ti. it: aiii
Jtifirv nf f;i. 1" or tit' itM riHiM J.ju
TIi-p fP'T' f -r Hi" ) 1 11 toil rMini.ry
Ult.-(M1 pri- 1 ,4 riil iik- uf f 1. 1 ! 7,-3 ( Ik1
tir t firnlni;- of f'J'M'it 0,11 ptnci
ltlLTfHrl fl.!,!! .ill I hM e .iT n if ; 1 III (1
$a:s.ti.
Thf IiiiuMr I'niupMii', u hjtIdltr of
thf I'lill.tiifli'liLi .'ttinp.ttit . 1 fpcirt 1 fnr
KM-ruHry a tokm fiiritlui; of ?:.. iM1-. mh lp
crehr of I to. n!" an I tit t nmluv of
a (in t T 9 4 . 1 ' t ( ill ricv-r'ti
tn out lip rnil-r.i IVi-ritur ''J tlt inmiM-tii)
report. :ron r.i riun: m of l.tS,S4 tul n
r-iriiliiKi" 4-1 f I -.i.' t, 4 hi. tin i-Hriiln; hi
oreat4l IllliX' tiiil ii-t rniinnc in r'if'l
1 1 IT MVJ'r ilin ItKlir.-rt l-.t mm
per Km) l.t rfir
Thr I.IiIkIi iiM' rtiiil ' 'Mupi.il'
pnrtr for lVhril trt r.i tiliik'n f J1?T
Tl"7. liii-f.-tn -f f.t iSK oi.r !h mi ir
tnotitli tn i!M'.. n rnltiK "f J :. mi
ttn-rpji. of 17.t3 iitt 1 tt fii'plii-v if II- 1
Ahk'h t- it k 1 1 1 'f 1 1 vi - 1 ni il,.-twi-l
month lui- I 1 i.r rtr .t thr t
pnrt i1l-v''ni sr4 irplnk" f t: l Sm.
.ui In-f.t-c nf f.7 I .. r Hi. pivlm-t-l.r
inontli pel itt-i . nri f.triitim" "f
fSSt.ti.'S, H P.llll "f I Mini il fcillp'l-
of f 37 3 .to, or 11 In- r 1 r . f ? 1
RAILROAD EARNINGS.
I'll, ' il a II K e 1
roloratlo and r-Voithern
Third wefll vtnr. l.i.T 'Ci3 Inc
I'rom July I . . I '. .lis Inc
firant Trunk Cjn. no
Third w, ,k Mar S'i.,-,,;n In-
1S9,:.T
. .9 IV1
' t.i'i.J;.t.
I rum July 1.... 3v it, in, . ..,,.-."'1
Toledo. M. latllls .i'i.I Uoli-.i
rhtrd w.ek Mur IIICfiM I to- III. sis
I'roin Julv 1 . . . 4 ut 1. 731 In . t.n .o,
foi-rill,i;s i; mi.wai
The r-oiitheru llnllwa. reHirla fin r,n
mars ,
lilt. I'h.itice-
flrosj eitrnlnss
.Net .stri.liiHa
rtsiin Jul. 1
flrnsa earului-e
Net earulliKt-
li ". ...lt. lite 1 IH.n , .
I s s Ine v... ., ,
l , .'it 9,7 ti..
. IH .lal.JUU III.
- .
4 li s I '
VlltlllNIA AMI ImVITII Wlifl Kit".
The Virginia and hoiilliwer tern .Hah" i
Coinpnnv nMirla for lYhrii tt :
init., i ii mt. .
ttrota e-iriilim. .
Nil eartiltn:i
I'roin Jul) I
rtrnaa r .i rut ii p r.
N.i r.iriiliiK'
HfrrAlai. II'
1 1 ,ii,vs4 In, J.ii.
,'ls J.,a In :n s
II 'lo. 1 tl' lln
3 .s.lni n, .
II HlTI.U AMI
III III,
I . I Ii .
. :.(.i
The Iluffalo. Itoclitsier mid IMtlsinn r
Itallway i.',iinp,ii) npoiu m . Iiruar
t'.lti I'li.ini:!.
i tpel. revenue
Net reteinn. .
Net Income . .
i'roiii .lull I
iipei. reietni.
N'el rev emu .
Not Income. , .
Vi..l.ili3 In. . I .1..'.;.
T.'Mi. Ii" i'i,.u0'i
I s i,., ; iii, i ..i.v. j
I i.'I 'it.M'ii lin
-'. .'lln.i'jii Inc
I,37'j.7Ii1 Iti.
1 1
.1 ..v..
41 ' "
fill. -.Mill
ISISIIAT W li-sl'lMIN
l!il VI'
Tl'. t hlcaeo t,r, ,1 Itr.tiln lt.,1 -., ,.1
f'ompiuv rej.oris f-.i r. i.ni.,r.
I'H. . I. in si
opi r revenue . I'' t il In, . i i .
N'el Iflcnip .i 4 s ' ,. 17 .
Net Income it 1 vet in 1 , 1 v ,
I'rnni .lull 1 1
Oper, revenue, , . lu.uiil.iviu In i i
Net revenue t.S'jrj.Kj: Inc 417, OH
NU locvme ,i:i,:3a Int:. in,(.77
subsidiaries as shown by
annual interest charges
to tv correct.
nrirvrtisentent
William Salomon & Co.
lit. .( IIHS-s ,mi vu.i.iist.s.
JllssuLIU. hA.Vs.1s A T i:A.S KAII.HA)'
tMI'A.NV.
' -NOIICi;,
Ceriena, Ktnn,. Marrh 1. 1U
The reitular nnnunl ir-etlr nf atock
hedcra tt tne above r, -l, . t Lotnpiuy far
, the e.ection of lilrectoia in conforml'
with I'htpter 1T, latwa uf Kane. , n5
ami the tiaikMi-tion of auch othr t.ti.l n s
a n, nt iu Pf -re .ai . ut mr. Incl.id.
ft il. e ra.iM, alien of au h I'lion at nr
lln - t.iK,ii -1 a ill,. r!t- I hy th- llo.r.l 'f
IlUr ,-, I tf a, lie I 'ilto'te. or till
, K. riva i.": en t ih t , top.-ny aa ntav
e ajt.oi'ti.,1 : ih n..rt:rn, wi t,a he ,! I
at the (fin al f. -, I'I C't'ipany In ths I
I llv ,.' l.!s,IP Klussa on Thursday, tha ,
, ttli li of A.rl.. ,31.. al li 30 o'clo.-l. A. XI l
, K'o.J, trjM.'er looks wl , ,-lisaj front I
th. .ri,rr,i.,n i.t Vt.s. I. ,,k,u . i. - .
1 Inc of April Tlh l.elt.
i- r. .-'.11 Vr. Jtfaldnt.
! i; K tiui l vi.t, sarratarT
I I Itlt Hll H4HIK-4-IPV.
I NO I HI l HI Kl II V (IIVI-S- ,Ht lit
i iaiual M.siiiiu of tn,. ... ,-' ijnl.icrs ,,f tif
I l.-ic lllllrovd t '..input; wl . , .,, , , ,
I oRlee ,.f Ihc IVmpall. N JI i hurch 1n,l
I bl hi I Its of Se Nork on lliest,,- ,r
Ut. at IJ .. i,,-k ti.s.lt f, tht tl.s-tion ..f
l;,r,t.,i-s nnd tor the itaii...itin of anv .vol
ill oth r t.usincsa that may coiue hrfofe the
in.s tmc in, ludlni ci iis:,ennc .,n,l otlu-!
. iiitt the approval and rxntv.nion of all con
, trails ac-s :,u, pn-,,t.n;, ., ulr Ho,rl ,.f
l)ni-.,rs or tlio I.v.s-iiiim t onimltte' sir,.,.
the I si ani'.itl ni. iilni! i.f th. stivkhnlders .f
, III" l .iltilcii) cnp., I,- rioord. of vihlc'i tinul
I l ii "i.silni: vi I I. t,, i-iaiiilittoii lie
j slis Uiol.lcr.' ol tn or, I dunl.K Imishi.-s hour'.
I .11 lln oil, i f the i oiiipnij
. ,'- urtii-nr isa.Ks iji. not ciitse. tint iti-'.
liol..r of rts ord March I... loin, shall turn
power lo tot.
I VV 1 1 IKl-MAV. .ift,ry
New v.rk, Mrcli I tuto
HI I-1 AIM HIS HI.-I l'lt INT "tl
lllll I.I. I (IVII-ANV,
STH vii,.,,, Vnnio, s,o i,,r, nti.
. 1 ;' S ' k'l .. Ir.S
"'I ' '"' '. ' 1 oi t,. 1, ,
ilnv ,.f v pi ii a i s, i i ,. v y
"" ' " -I" .. S.. 3,. J,,,i.
' A...., llorcit-h .sf vi .i j, , t,. i'm
o' New Vork f .r tic . irpoa. ,.f ,. .c.Iiil- ,
Itoiu-d of litre... r- ti.i t-r.fiiti.v .'ol i.t
tin. ii.s.ii u . rep r:i ..r u,e "UK. is .1
lor 't.i leans t..:lii ,.f ., h n: ',.r l.'tsln.s
a. II. I . tit,,,.-t oooia ', f,,,-, 1 nii,..ii,.
1 r inn wt 1. ',. lis las, f ,,,
i .onoai v, on . in. 1. p. i -,,i, l . , ,.
'1..'' '" v.t ll, p.'-. pruvv, who
I'I" 'l i" " 'id . I '., 11.. tr.mafc-
isH.iv- ,i i'.. t .:p,n- ,i, . , iu,,,t
l-o l . 1 a . . . . I.' s - j 'i ,.- .
.1 ,
II VII. IV I. i. vs-l-,. . re'ar
tat,i . s ,,1. V! ,,, i -..,,',
I'llll I MIIN IIM, AMI r.;t t ,,,
vn si vi. vu.r.riN.,
3 Iir... .. .. N V . .,. M.,,1, ..,
I O I III -slot 1. 1, "1.1, t. i.t
nit: t miin ii vt. vmi ...;i; (iv.
I'ANI:
YOf Alii: IlilltlMIV SuTll ir.H that ') -'Itlhll'll
tn etllili of 'h. St,, l.hohlrr- of I I
I'M n It it ao.l i'.pi . .. iipnnv w M ...
1 1 it'l e, . ' , t.v I, ,lltP
ler-i I . ,S. w .1. r . . n
I llh da .if Aittl, ".. 1 . , ,t li i, , ,
the f..ritie oi, t ,i -i.r p .rp ,,f rl.us
Dlie tor-, and t r il - tiai. !,.n -t m. 1,
eth.r lit. 11' s ,, it, y pi.,p,.y l,Jll,e i, .
fol r i i,,, , tlntf
I, H vifiti: t , serer.
inn t'liN ss i. ami liviiiitivii itm.
I'tM,
ofli'lrtl i '111 e. It .. i M,.M -alMiti
I'll1 ol ' i i. M i Mm . 1 .,;
vn ii. i.t' i'i. is ii. u 4 1 1 1 1 1 : i - iii);i,,
Till;- IO s-.,,., f,,t ,, , rt,, ,,f f ,
lo .1, eee I He I. . in I II eM,.
Wl'll th s'l! I r ' ! n ... I,,
iin-.t.i lie . -' n -oi. ti i'i, i
II the Ii ,
I. V 'I ,i t
I ei nt, ,.,
-I .' I, I" .
' I'I
al i. floi It P.
I II I 'lllp!' I V
ill ,!'l I
I.
1,1
I
-r
-1 ' I
I
I VI
I i , ',,
il t Ill
I
I
1 1
t i-'llp.il.V
In
III- '
t'l'tolii'tiv . N
i-prl' . rn.
I r st on VI... I
p ll fl. ill VI t
n . 'in i vi
f I, H NTH . e I
.et irt
Nnllil
Ilie W iishlutftoii l.lft losur.iini. 1 o.
rlie Ami 1 il :i, I n 11 t. ,,11 of 11 .
torn. 111 nui -1 ' i.Hi'i it. i... niii
I tw lulu . nine 1 1 he 1 1 i.'ti . a 1' 1 e I,, I 1
ill lln ..II .s t'f II" i.'iii'in.v If.ii tn ' , -st
.1 mi, - liuti 1 n. : I. in 1.. iv s v. v.....
I I it y 01. Tu.-.,' iv V 1 ' ' ' 'I ,l . ,1 , ' ,
,N..im l,e,i.l'. a. I I" , ,1 lot ict, iiotr
' 1 1 ll1tsttN-.
Ml sol l..imi llmiils s.ilii, I
1 ll.tllu ill. n .V t .. l 'IP. in, . , 1, ,,,,,, A '
I 1 0 lb, IU11. ' - l.i, 1 slU 11 ,i
11, il II" t "O' n it I'i ii-t not -. , ,1
I' 'ol in 11 act t " Hi. il ., 1 , 1
j l"ll '1 .sol tn 1 1 , 0011 000 s ,1 .,, ,
ISDIlMl'i. li pilieti 1 vv fill v OVl . , Oi
I 1. olK.IKe a ItlvlllK I'Utld bo Is ..1 ', , , . I
I Ii.ii all tin bond.-, tluv tl bl1' 1. M I l.i
eyiyllc.ilc llitl iiriiiniiiiiiii 1 ho t.tl,. ,,f
only Ji:,0UO,uuo In buiitlH.
11
lll l'lllir OF Villi CONDITION OK TUB
EMPIRE TRUST COMPANY
. the ilc. (,r imaiui-ss on the 17tb day o(
Mauti. 1.110.
IlKHOUItCBS.
Mi k and bond Inveatroenla. vlt ,
I'nl.Hc wenrltles (Imok value.
l,302.f..S II) nmrket value S4.320.04S.TO
i m.nc aeciirmea (ma.K vauie,
VMiMi.ll. i liMfkil value
lif.il iitmeimncd .
Cir7.D4S.tf
Mortpai?'. owned
Limn And dicnitntH accureit .e
bund and mnrtRe, rte,,l if
fit her r,...l ,.l Ale , r.liitl.rut
eoo.67o.ei
74fl.SIT.ei
l.min and ilhrnuuta acctircd by
..iiicr ii.ii iicrai ... . . . i
Lnani. discount, and bt!! i.ur.
. lo.vje.eso.ir
cli;iv-1 not secured by collateral S.ASI.eM 0T
llttrilrnftn
seal
Dun fruni approved
reiM-rvu denmitar
lev amount of
o(Tet.
.S3.2iO.04S 84
line from trust com-
iimle.. bnUs and
liankera ant In.
ludd la jireced.
Inc Hem
5.1 1 P. 1 03.7(1
tl.:iT(V,n,M.l
f..v.. . .
i.sz,(u7.a-j
200.330.00
24, HI?, (10
L. tillivl ,Ht,vtcn b'al tender nnlr.
ami notes or Minimal iiaoita. . ,
rcderal Ijecrvn uotetv
4 'ash Itenn
Other asset, vli.i
Advanced to
trust., etc . . . S104. 129.43
riirnliiiru aud fit.
ttirea . . M.ooo no
Accrued Interesi,
entered on
book, at rlui
r.r liuaineai ou
atmv dale V"b,74l 711
Accrued lnnret
not entered on
ImmIi) at closrt
of luislrieai oil
above ililn. 7n.7;i7.ft
60l.tj0S.fl7
I ol il
.33.S'28.209.1'J
I.IA11II.1TII-.3
rapllal st.st,
-surplus t.n utatkil value.
11,00.000.00
"urPliis fond .t,t,().iWl tat
t ijilltldisl profit. ir.il .TtlJ.T.t
fiirnlu. un Imok
1. 4111,73,71
valu.w II.7H1.12I.S0
III pmlta
I'rcf.rrtsl, asfollija.:
Ulto New Vork
I stlj Svvlnsa
Mink. . J1.ij',.,70.iJ7
lllhertleposlt.tltl.
as t tts-titor, ad-
tn I u I a t r a tor.
viiardlaii, re
ceiver, trilvtl-e,
coiiiiiilttto or
. tlipimtary. l.5no,4(.T
lcio-lt. by the
Mate of New
ork 731 000 00
lli'poslis l.y hr
Miperlniendtnt
or It a tt k n or
state of No
Vork . . .M).i)9.rt
Othtr depostt. siv.
enrisl il'ostal
Nail nail hy a
PlisUoof iwlt VJ.ftOOOO
Not prefcrrc.1. as
follows
! podia subject
loehtxk J.'-lli.:,t..1
1 I 111 c deposit..
certlflcttes and
other deposit.,
Ihu payiitiut of
which cannot
legally be re-
tiuiroil wltlUo
. thirty day. 4,on.3!).0
Demand certlfl.
catehOfdelHe.lt M3, 114 3(1
Uthor tertltlcati-i
rrdeisssli lf..55-S.M
avtllt r'. ches kn
outstandlui;. In
iludlm; 4uillr
rhei-k. of other
oittnr. I0.SO.V Bl
Duo irui-t coin
al',loa o a II k 8
and bankers. .! 1, 3fi in
Kitend total deposits m.T'Ji.l H 5
Othir lulilllli's vl..
Ucsrvu. roriait-4.
ttp-nsea rtc J-j 171
Aerrnisl Interest
e ni o r d on
tHK.ka at closo
of huslntss un
tve ,,ir n. TJ; 70
Accruisl Interest
not cnterisl on
tanks at t Ills,
of I'i, sin, -t ou
a'siw tl iic ;nj, lot 'I'Jt
S02.:ia.'i.30
I (ital
v.)Tir-r to imi,tii;ris or
THK I Mil VI, II . NI MIIN ItAIIAVAt 14 A
t Mi i.s T4M'h l.tltlls (4.
llrst Mi, rim-. .-!-, -Jitutr. Ill
I. slate Improvement llotnl.,
Tl r 1- In I I UV tll l.V, aa pr.
VI l I I .t-i Vl ..." th' luf.rttice an t
ilea. f l-.is- Mat -h 1 lrf"4, seru'-
n ' 'e , ; rn- o vtillh.n Dol.ua
"' ' Iir-! tneriir-ana b'. :''j-vear re..l
e-t.r I ,,rif me I, - ' .n,l- of th Ihl.etri
Jin tlst i;,i v.v .i.t t;i,ton (stutl: atit
i"'np'n, -.hat n.iratitv Trint fomtetni
ef Nw y.-rl; ructea.or to Manrtitrd 1 ru-fin-pary
. f'.New Vork. is Trueiee. aiil i
f o i ni I'-Mrim; ih. foiiowlitr aen.i
t'ln.'.-r- ii i.i, h hive t'fn drawn for n-
datepil' ii l the ainltltic furd ou and fi
Vpnl I.'.;, at u.s- of par and accrue
V':"."" mistt presei.tatlnn at the TKI'ol
HI riltrvniNr of the undrralirnad. No lb
M", i ,v. N,w orh ctt ftr April '
.,.. ,,..ra.; , T, thes. Isont. will ceuae
' " It. .fl. ttnj.iuft Inrlu.U.
i"' iii ie. t.v us; .,,,,: lmuaiv.
11' - ' It ,lcli.te ISJ
' H. ha ..e I-,. 1-17 7 . tu, -llaile
.Oil- "4 In lun.e tli;,-s,1' tt.cluslv-v
'I ' ' Ir,lii-,t,, sa3-ts. Incluslio
.'.ii- ci, induMi .1.'-1;. Incittstt
t"- ... !n. Iijalva tjfl 1J7; Incluslvn
" In e v I '71 t"M Iir u'.
II. '.-lie nS-'..'IO Ili.lUJlls
1 I-. 14 Incluslio
a 1 'Jt tn,.l'tIV'-s 7.,-...ll ll.cltl-P.
.... . , .. Insla.l.e ....:;.' I lo lit.l- -s
' i; Ii. Iii- i '. i iti,-liiM -s
i -" 713 lneia. . 3ii. tn. lu iv.
71- ?7 Tn 'lilsi- a Is'.. ',l lt,clillo
.' gi;.a In- it-it. ti. :t;7 Inclt.m
f.7 tans In, i.i-k.. iki ;:.,i ineiuiiv
tt " 111., Iniluslv. ss.;Vij.t Inc. tit.iv.
IIM I-. lie''lt. , ,s InclUHvv
It I" I- i .'. is i. J.tn in.lus'ia
I ' -1 ' ,- '- .... In'-IU-.i a
I - It.l i .1 .inn Iii, It), a
M'.r.h ml.,
I VI. I V ! lit - I . iVl'.VN'T I It
MU ,..:f
Mv I'll MM t-7- II - VIIIV. li-aatdei
. V. t .M III.
fSlle Nuner No. .".:. t a. Ilia 1 1. I(. HA .
o. S.I. t ilh'e nihil,.. L..,i l.if . H. r,
ciKlr. ., in . ti.,.,1, lion, IVru, . .
Aiocriian viamifn, inn-rs anil l.vpurter.
lepii'srtilatloli. .oil, lti-i,
llrst ill., htiiihrr. rcfcrei,, . l'Iicii.
HIV lilt. Nils AMI I.N I I. HOI.
v h t.
i , i , .' i . , ' ,
1,1 V V V I I t, I tl.ll I VNII I! VUr.
Itll Ml t IIMI' N V .
.. t tit. re V'i ' I , ' ,t i - -. . l
1 -M Ulo I ' ' I i . . I ft l. ' . . I si,) ,
I nf 1 1 tVti.v 1 1 u i . I , ti ' ' . .i. ,iti, l
j 'i . an l . 1 . t ii i .
i , , 'i , rr, i
" k I V- - - . Vt , l .
I 1 1 ' ' I- . 1 - i I . M.,l . h . I
till'
I . V. MIL'S i, rcitstirrr.
I, I, villi V lVVII.lt, I II.II I VNII It Alt..
Itll II llVIiNV.
1 tie ll.,a I of till. t o . if I,-. I,,,,, .
Welti. I.id'i .ir. I II. I i,.ip,n, dav
it li 'I 'Mi I ii l.v . Ii I l i - ..I - .i,,) thr.
Uii.il crs pet . eti' i' hi'un I'n t'tiii i
i""itiilitl.licr I'i - I ol ' l .
I'l-'i I'UtlV , p .,1 . . , ,
I'I lo I I ,1
0 ' 1 1 i i in
t . til -l, . , I i I ,
I'
I
p. . I '
Mo ,i 31 I "
I- .i. , ,, I
lie v 1,
,, kl.
'.Ill
: I
.1 I It'ilil'l I . .
I'ilH II' It. -sIVllMI..
I ili.'lll'KIl li tlilt.l.l.
.lll Itll-lii-.
II I V , I . I.,
p
' i lln Nli N . I
i in: ii Win it t mi i s i ni i.
I'llUI" M
V .,, V I, V,
; ' s "i i ' I".
I'I . . 1,1 1 I ,.l I .
III I I . . '. I I ' 'I ', .. . I. Ill .
1 1
1 1 V N ' ' ' I " III . ' I
I'll.. .1 I, ' I '
. , I, ' . .'
It.- k
' ' I I. I
I "
. "'I I
' ' ' I
I Mai I
. 1 V ', I i'JI
I III VI I I VM I 111. VI I I itV' N V
I II I ' 1 I ,,t,,,, ,
, , 1, ... . . ..r 1 .
. I i ,.' I'
.. , v , V, .,
lluH VI. . M sin III.
I III II V Vol I II N V I II IN VI I11M,
,,t II,, I iv .i N, it tori,
I. V I 'I ' .
I I' ' ' I , , 1 ' , v
1 ' -IN I'I It 'I'N I' pi
il 1. .ii. if ' Vprt, I 1 llili, rtio trims,
ftr l'..ok wl I reniiiii closeit oitlllliHt dale
i:i.Mi:ii 11. WlllTTAKl.lt. C'ubtiler
n

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