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The sun. [volume] (New York [N.Y.]) 1833-1916, March 30, 1916, Image 11

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(rcnHi of Holder flic. Stis-
flining Influence in
the Market.
-lc (rum Hie atlff undertone, there
.in tut (cuturu to jcatorday'- cotton mar
i, Ttie present uteailliicM) appears to
Weil entirely on old crop conalde.ru-
im. The youth hau evidently mudo up
mi n tu hold, and while demand
small. It ii wears to bo sufficient to
cite, of the trickle, of offerings
tallow" market. H Is notable that
in pit! of the excellent character of
Im'iil Muck. New York Is ntltt the
irjp-rl market In the country, when
ot ioi!Worn the cost of acttltif cotton
rr Middling Ih veiling In Now York
,i practically tltu sumo prico us tt Is In
IMttj. Tex.
Tlic recent ruins In the Kouthwest do
t appear to huvo illtpoeeil of the
I aught and talk of dama-ce to the hthIii
. up continue. Tho forecast calls for
unruled and cooler weather In Arkuti
' j, Texae, and Oklahoiua,
New Orleans wired ycrterday that
pot demand was coming hack stronger
than ever. The same character of ad-
-ra miih received from t-avatinah and
Texas points.
An Interenllng discussion of the outlook
for the fgyptlan new crop is contained
in the following extract of a letter from
Mexandria written the latter part of
l'ebruary :
"Tho planting of the new crop Is pro I
cre-olng favorably. A very large, prob
ably record, acreage Is being planted,
mil tho work uppears to be well for
ward for this period of the year. How
ever, the mobt Important factor In the
outturn of tho new crop Is the pink seed
worm. We have taken measures to
line expert reports throughout the
.Min iiirr on tho condition of tho crop,
mill from tho reports which we have
already received we fear that this pest
w II do great damage again during tills
Minmier. Tho pink eed worm hlber
i ,itu In the seed und consequently Is
protected to a very great extent from
lie, cold weather und uIm from tho
attacks of Its naturul enemies.
The fellah, when picking last ear's
erop. foolishly left a gre.it number of
he Infected bolls on the ground to tie
cmered up with earth, ready to allow
I'm worm to reappear In due Mason this
tammcx. The sowing etd Is also
ms arming with this pest, so that much
-owing may be neeensary owing to
tie .pilled keed. In view of this danger
ircatenlng the new crop we cannot take
in optimistic view of the prospects In
N 't.- of the large acreage."
There wnt. very little feature to the
trading yesterday and prices closed at
a net gain of 3 to S points.
The market closed steady.
Opeii'llith-Low Clc. free,
inc. eat. eat. Inc. eloae.
to- .. isni lt.-ij H.Wnir.m lt.SMll.T
il- . t:.(i7 is.u km i".iitii:.t. i:o7wi.m
n-tohrr i:.i; t.ia t:.u l.-r.n.ti t:.t;nt:.n
tw emitter 1SVJ 13 1S.S l:.3Ul..3T 17X.'tl:U
January issj k k i:.33 i".4ii:.t. i;j;tt:.:
Ihe local markrt for "pot eotton wae
i-i.or. i point- advance; mtditlinr.
Southern apot markets aa officially reported
ere uninatitteil, 6 points advaintt to 10 points
rtcclllir. New Orleau. lt.Ue.: llalvellou.
Kins.', Savannah. ISo.t Memphis. AU
til. la, ll.7c., Houston. 1! rev.
New Orleans market cloed steady.
Of-ru-Hlsli.Low-. Clo- l"reT.
int. et. eat. ine. elo-e.
May 11.7) 1I.M 11.T4 lt.Ulilt.M ll.TntI.V
Julr it. i:.e: ii.w i:oitn.o. tt.7fjit..
October... It "4 ISO. ll.M I..i1iI..O'. II lt.J'
tiecemher 12 1J KM lM.til.14 iMOdlMt
January.. JMI isis 1MI IS.:tot.B f-UMUMQ
Tlie Uterpoul market o(iened dull There
a a quiet butlneta in tpm cotton, with
middling iiin-liatijeit at 7.S.H tiale. S,()
bales: rccilpt. 2.0") Palet; none American
Cloted atead.
Opeu. lli.li. Ixtw. (;io- Ifev.
Imr etl rat III clote.
Mar.-Apr ". " '- "
Mar-June " "
July-Aur "M '!' ?av '
Ol t..N0V 7.34'i 7.M 7.30, 7 31 7..HS
.laii..reb 7.1t! ;: 7.M 7.31 7.M
The 11 A. M bids to Llrtrponl wrre: Maj-,
11 4c: July. IS.oOo.: OctoPer. IM'.; January.
. 3 The market there a duo to open to
dav J'j to 1 point adranoe
Port receipt and locU.
Re l.akt Last
r-lDls. sear Stock. jear.
:alveton. . S.1V l.t MMW ro.li:
Ntvr Orleans. 4."XI 3.'..l.1 Svi.S3
Mdlille 271 r,:! EI.0 4T.S.I
siraimali 7.4 S .. 140.3il1 y;.U0"
rii.nl. lull. . IH 717 M.4U W.7M
Wiimiiu'lon t 4.V"i :i.0v-,
i-toll. . l.t k.tiTO tl.IO M.'JK
lUrlor recript and took:
He I.aet I.at
i-MpI jear Mnih. ear.
.Hi-la !'' 77 IVi.STO IXl.KS
Mrmplll Ml S 717 P".ii" l''4.'i7
! Lout- I'" -.',l ,,.74 ;..o:
11..11H011 .. i'.''; ;.7o: isu-i" ip;.h4
i:liiiialed port lail I.at
rii-ilpls lu-day. week. jear.
k ttrton fc.n to 7.S-) 4.7 13."5
v-w OrlraiM . -l to 4.31T 1.7M
xporl- etrrday were "7.?3l bale. Total
Xh'ii tar Ihlr -a-on. :.M5,140 bales. Total last
i-'iti, '..'iJ.lU, tiale-
I Ulil tu Ten Point Reaction on
-il leu of ll.SIIO Ton.
r r tne nt lei el for suzar appears to
1 -.i.t.-in.-- to the bullish tendeiicj In the
1 at it anv rate. delopnient eterday
" nt Hi" s.iin i.luractcr as llirne wlipvli
ir ! u tu 11 Hie market adianced In th 5
i" it v .ei earlor In the month Lonj sold
frulv and utnp lois orders "ere uncov.
wait tin- rrull lliut prices tor the active
vunu- eaperunced a reaction and ut the
im 1 1 the day wrrc S to 10 points net loer.
Toul tales uire. Cy'") ton
Pi th- tpnt 1'usltiiui there was alio an easier
)' r. and alr were reported of 16.000 ban of
' b.ti susnrs afloat at Hie. eott uud Irelcht,
jjI in 1, '.im' fur centrifusal teat duly
. "Mill uu a dei'llne of -frc. from Tun
1 pr v". Ilenners were lest imiineif 10
.Kf piiri bates and tlm market appeared to
iliieinvil by mcreated offer of I'orlo
'i sui ir. which wen. taid lo le available
o .11-r.iM iiuauiitirs at prices equal to
; tor leulrifujal
T:i. m.irkit for refined sucar wat firm at
re i,t advaiue to a batit of 7 to 7.10c for
" .tuiuldled, and whlls there wat com
1 ai.teiv little new demand at these flrurrt
"1i. r were actlvrly cnKsted In ttlllns old
:et It wae tsid that there wat a foreign
in rr ir for ntlned for April shipment at
' .1 9 of C; t 0 h, New York, but that re
ii re lot Interested at this price for
early dlliery Kulure prices follow:
Open llith laiw. Clot. ITer.
Im. tat. em, mc loe
",ir 4'T"ut. 4f-.
.. 4 ; 4 95
f'O C'iO 4l 4!"Vt4.l 44
.. . 431U4M f.W
CO? CM 4 93 4 9it45 101
.-i .. 4:k4.94 s.o:
s tn r 5 03 5 03 IK 4SIBIW C 04
.t 4kJil4 0l 4S7
lur .. 4srt4.7l 4 17
4f4 4 M 4.M 4 5414 M 4 3
t . ..4 3Sty4 4u 4 X,
aiy .... 4 -'VI Iti
and Term.
8tk. Ami. PayabU.
com April 10
l llll"
tlcil. Initial.
11 I'acinc IUII-
1 rmurtrrly
' .tlnnal Paper,
i.i tirly
1 are. Larkawsntia
Wettrru Coal,
'ii o 1 riulln.y and
- ft', ipiarUrlv ....
iisrn blatcs Power,
11 il i I'. Donbrlgbt,
l.ari.polls Water
Work" Hemirltles. . ,
l i.riufa. turara Llhl
ami Heat, quarUrly.
''u' do brvc of North
' n Illinois, quar-
1 'i rule Service of North
M'l Illinois, quar-
rly , ,
I ' rl IHate Indus-
,rl, ouirterly
1 rn titatsa Hue and
KlTtrle, quarterly,..
May 1
April It
i'ift April IS
pfd 1 K V' April IS
Pfd li -J April 15
pfd April 10
pfd 3H. April 1
17. April IS
com JU May 1
Pfd l'4 May 1
Pfd 1 fi V. April It.
pfd lHr. Aprtl 1C
The churning process In tho stock
narket continued esterda.y without
tne general list making any great prog
resH cither up or don. Home of tho
war order shares scored small advances
early in the day on rumors that new
contracts for munitions were to bo
placed here, but they gradually lost
the ground they had gained and tho
entire tone of the market showed h
ck of Interest. All things considered,
however, It was remarked that the mar
ket was standing the present strained
international relations In an excellent
manner, especially In view of the fact
that two or three strong bear pools
tiavo been known to have been operating
ever since tho sinking of the two Brit
ish steamers on Saturday last. The
loallng supply of stocks In tho market
Is small and It has been tho rule re
ceiitly that when thero huvo been uny
orrertngs of stock by operators on the
abort side they have been promptly
sua piied up "at the market."
Tlie railroad stocks were rather trrcg
uiar !esterda.y, some of the leaders like
billon Pacific suffering losses of over u
point. The reasons which were as
crlbed to these reactions In the Invest
nient Issues were renewed foreign sell
ing and the fact that to-day Is the time
when the railway labor unions are for
mally to present their demands. Tho
continued good earnings which have
been reported by the railroads for the
past few months can bo expected to
have little erferl li.t n- inr .1..
bogy of 11 strike or an earnings In
crease to the railroad employees Involv
ing additional expenditures of million
of dollars are hanging over the nmrkrt.
vaiuuiiu men nave also predicted that
tho present scale of earnings may not
"i1""" " . Wall Street Is mindful
lhe. ,act th- It Is atwaju easy to
raise the wages of employees, but very
difficult to secure their consent to wage
reductions when eamlnsn fall off.
Though It was only a few days ago
that the Bethlehem Kteel Corporation
sent out Its ilrst circulars to tho putiUo
opposing the proposed rchemc for it
Government armor plate plant, the com
pany han already received well over one
hundred letters from people In vurlous
sections of tho country pledging their
support to Its campaign. The.se letters
are coming from people In every walk if
life, and especially from business men
who state that they arc believers In pre
parednrss and believe one of the bent
means to secure It Is to encourage the
steel companies to maintain their present
armor plate factories. Many of the let
ters voiced the sentiment that a long us
the people of the country will have to
put up the money for armor plate plants
whether the Government or prlxate cor
porations produce the steel, a b better
to gte the public a chance to share In
the profits from private enterprise than
to bear the deficit which would be apt to
follow a Government undertaking of
the manufacture of armor plate. Several
of the letters received by the Hethtehem
Kteel Corporation enclosed copies of reso
lutions and letters which were being sent
to Congressmen and Senators asking
that they oppose the Government armor
plate bill.
A Big Contract.
The strength of the copper stocks yes
terday war generally attributed to the
fact that an order has Just been placed
here by the Trench Government with one
of the big copper ucencles for i:.",000,u00
pounds of copper. The metal Is for April,
May and June delivery and Is under
stood to have been purchased ut around
the current 'prices, which uro between
27 and 27 -i cents a pound. Klgurlm;
the order on a baals of 25 cents a pound,
It would mean fii.250,000. It was gen
erally supposed that Trance would not
bo able to get this amount of the metal
owing to the fact that the coppercom
puliles arc pretty well sold tin. and be
sides there Is a strong domestic demand
for the metal. The order Is one of tlio ! ".silrif. also are heavy, but few contra, t
UrKest which has recently been tda. e, 1 "rc,.,;'""' r'd Kvausv mill ci.pa.-ltv
nere and Is lclleed to hao been tlici'r '"l "' moiniie.
I.irKest rorelun order for copier lulun
since tlio contract for 135.no0.non pounds
was placed here around the first part of
the year for delivery throuchout 191fi.
France participated In this order and the
fact that she has found It necessary to
enter the market so soon ucalti lllus
tr.ites on what a Rlcantlc scale the metal
must be consumed In the manufacture of
munitions of war abroad.
The Crnwlnr Array.
A further indication that the public
is dally becoming more and nioie a
stockholder In the varlou, bl corpora
tions of this country wus tttu ester
day In the onuual report of tlio Western
Union Telearuph Comptmy. Thai con
cern reports an Increase of jn p( p
cent, in the number of Its stockholders
as of December .11. 131.'., wlicn com
pared with the number on fiecembrr
"1, 1514. At the close or business 011
liecember 31 of last year thero were
IS. 610 Western Union stockholders, 1111
Increase of It, 087 over 1914. The small
Investor It also been hs a luritn holder
of Western Union; of the total number
of stockholder!) 12.083 held tnenly-tlio
shures or less, while lij.CIO held inn
khares or less.
Caltrd Clear Htarra.
The common and preferred shares of
tho Unhid Clear Ktores Company of
America were traded tu 011 the Stock
Kxchanno sesterday for tlie first time
on u basis of a par value of 1100. This
was originally the var vuluo of the
slock of the company, but In Aupust.
1914. the stockholders voted to reditu
the par vjluc of tho shares from JIO11
to ftO. At that time the stock was
traded In on the curb and It enjoyed
a much wider market il tlie lower par
value. In the latter part of 1915 It was
listed on the Stock lixchanxe and the
$10 par value was not popular owtntr to
the fact that stocks selling at that price
or otr arn subject to the same commis
sion as the higher priced shares. A
movement was set under way to return
the flock to lt:j old parity and wus re
cently approved by the stockholders
PHIIAHKLPHIA. March W.-huffalo and
Su-quehniina common and preferred made
further - uu. the common ojoslnf at 47
point- liifncr thin the opentni, and Ilie pre
ferred at bl waa fractionally belter No Im
portant rhantet were recorded eta-where
llondt were moderately bcUto and tleady'
Tbo summary i
Open- High- Irtw. Clot
Salet. In?. et. e.t in.
u Miirr ... i.. j;u
14 Amir Hr flU ,K ?l
jvn uiiiiwu m ousi,i t .'
llljf SUM fit....
I Cambria Iron....
7 I'mnbna Steel
14.1 Klec Stnraje
6 lilt Co N A... ,
112 Lake sun Corpil.
si IWiidi Nav
6 IIUh Valley,..,
SOU lah Val Trail..
trQ JaMi Val Trail pf
Pl-j IViiu Railroad.... Wi
IVnn Halt Mir
1014 ,?m
nPtnn Steel pf.... MH HU
10 Plilla Co 43S 4ft.
fy Ml
4.1 14
too Phlla Co Cum pi. 44 44 44
134 Plilla Elee .. .... "74 :: -714
lf, Phlla K T t e.. l m
5 7'hlla Traelion.. . 7;ij 771. 7714
S.W Keadlur It ft M'i f.S K
5(7 Union IVaitlon... I'i', 41 4J'l
111 United C.as Imp. IV?
4 We-tmore Coal.... 7 C7 7
j: W Cramp A Sou.. I0'i 104 004
nm Amir OAF! St... Mi,
-duocttr 4t. itii ie:i toss
iooo city 4n. 1 lovH lojti
1000 llarwood Elec ',:lKi 10: il
3Vrt Keystone T 1st In. ' St
IM Lake Hup Inc 4t. :.' ,V
loorw Ia-h Val Ctn 4t.. M w;
ijis.1 Peiia con ts :vi t'4
i-m I'enii Cu Ceo 41-.11. 10JI.I lO'O.
3 Mli
.si 101':
105H 10J,
IIMO Pillll Coil Hit. ,..!&"' Kk'.'.-i 10i.lt JOil,
iyu Phlla Klee U 10.T1 101 put. 104"
laiuO Readlni lien 4a... t. x,
srtfti culled ny inv m. 7i- .i't
(4M York Br 1t( U.. KH Wi
71 Ii
71 14
HpIIuvc Independence of the
tslnndH Would Mcnn (Ircnt
Loss of Trade.
Cotton goods d filers mid exporters
aro starting organized efforts to light
the early grunlliitr of Independence to tlm
Vhlllpplnea on the ground that such ac
tion would mean a loss to them atul to
the United (tatc:i of millions of dollars
In trade, annually,
A general cflort will be made, by
petition und by Influence upon Congress,
men, to obtain the defeat In the House
of the .tones bill with the Clarko amend
ment which the. ricnato pasted February
i. ThU bill gives the Islands absolute
Independence after two or not later than
four yenrs.
A petition Is being circulated among
cotton merchnutH hero and In tho South
by I.atirun laiomls, 345 Broadway, ren-
Jresentith of cotton Interests, mid by
i.vcrcu, iieaney : Co., COJ Hroailuay,
large exporters to the Philippines. Slg.
natures uro being gathered from the
twenty-odd wholesale cotton houses here
and from tlm cotton States of Oorgla,
Mississippi, Alabama and the Carol I mis.
Mill owners and planters In these States
are being urged to remind their rep
resentatives of the trade loss the South
would suffer through a tariff Imposed by
an Independent Philippine government.
The petition points out that In 1399,
when tills country first occupied the
Islands, there were practically no Im
ports of cotton goods from the United
States while In 1915 such Imports neru
m.900,000. Tills was $1,500,000 In ex
cess of the combined export to China,
Rrn-.ll, Chile, Colombia and Arabia.
Tills (Iocs not Include 11,000.000 In cot
ton thread, hosiery, blankets and other
In general export trade with the
Philippines, the petition says. Die United
Stales gained IS, 000. 000 In 1911, mak
ing a total of tlM.UOO.OOO, of which the
cotton goods trade alolio was one-third.
In 1913 the Philippines export trade was
fl6,000,00ii, tho gain coming partly from
Inroads upon the trade of Japan, the
United Kingdom. Trance and (Jcrmany.
Tho $24,000,000 United States Imports
represented one-h ilf of the total Im
port trade of the Philippines In 19U, and
their exports to us were In tibnut the
sumo proportion of their total of JU'.
000.000. The cotton manufacturers feel that
once the Philippines become. Independ
ent, without restriction, an they would
by .(ho bill now before the ltoue, this
country would find Itself confronted bv
a tariff on cotton goods which would
greatly reduce profits and make difficult
competition with other countries.
"Tho manufacturers of the South can
not but view with grave concern the In
terference or destruction of this trade"
say- the iH'tltiou. "which not only afreets
seriously the cotton manufacturers of
the South but also thousands of em
ployees who work In the mills and the
cotton planters who supply the cotton."
Motnr i:iorl Contracts Are Plnerd
at Prrmlnnis.
The railroads have placed additional
be.oy rail contracts, and more large car
orders could ho il.strllnited If the struct
ural steel were callable for delivery to
Ilie IMIllilers. In lore 1917. LAlmrt In
oine rtsules, in iut of :,noo lo 3.U00
ton, .ire beliik: made for foreign ship
ment, howeiir, at picmlums nf ( tn .;
u ton. This includvs blll.-th and bars
TornWiff billets havn brought IT.'i tn sil
In tlio l.'ai-ti iu tiiritor.i.
Mrilctural suel work is still iUlto
active. altlioiiKh much Is heard of with
drawals of Inquiries, nnd of more mn
cnte work at the expense of stevl.
Mi'i'l sls-ets are uriccntty wanted, and
tnnir uiamifacttircis lu tho l'lttsburu
district have advanced prlcvs to J3
a ton, sales of No. -'5 block bclntr madn
at 3 ceuti and palvanUcd at 5 to D.10
o'tili :i pound for shtpment In the third
quarter. i"ip'ii hearth shtets ioinmand 11
premium of i" .1 ton oier beesens'r
Automobile manufacturers arc urK
cnlly In the maiket tur special steel for
delivery late this ve.ir. but can find no
mills to promise ileln. rP s until 1017, ami
omi luutrufi lor "o.tiuu Ion.-, his been
t-losed, III lid-- connection It Is Interest
ln to noto that maiiuf.n turera of aKr.
cnltural Implement!- and of 'automobiles
have In en etockiuv; nutate as much us
possible for several mouths, and In some
casee. wan house Inventories have nearly
doubled, This action has been prompted
by tho uncertain trntllc situation, as well
as by the tardy shipments from the mills.
High prices for st I, copper and alumi
num arc also factors In the situation
from 11 manufacturer's: standKint
Tho Mlssouil Pacific and lion Mount
ain Ilallroads have been authorized by
the Keiler.il Court to purchase 30.00')
tons of heavy i.trel ralla.
The Irurt Ii a" "slrn of a more euii
trrtatlve spint are bvinmuiui 10 appi-ar lu
tlie tleel (ride 1I llllMIIMt lolls tll.tt til
iri-l of the uaie of pros .i-H-aiiee', lus hvll
rea-tied or 1. ni a at hand Si-iitlturiit In
ejin 1.11 1'-. slroni-ly to the Nllef that Hie
nulls iH nt iron, led fur all the eir. bin
trine is les- e-citeiuenl and bujvri. are not
as Indlflri'iil to II, e effect of hl"h prices
"War dtiiiand is not as lutintent, parllr
beeaus of th- Ion.' tlm for wlilch nullt
are ol,1 Hut On re l li e dfllntte ttatrment
from scrt.ts nf lireat lliltam that ttiey will
now (ilaee no contrails for tuadiinltiy shtlu
for mure thin ttirr inonlh ahead In tei
eral unartirt In the machine tool trade tbo
pressure In not so treat sunn mumifaciuiliv
i-ontuiners of Iron and steel, driven for
months hv the fear nf a thortiise of tiiatrrial,
mire Inrte stoi-kt and many Inventories have
doublfl At Ilie same lime iiremtum for
surly delivery in certain other lims partini.
larlr for plate, sliaie and li.ui-, tend hlrlicr,
tndicaluiK small stock In manufacturers'
hands .pll.t bolls and oilier track supplies
tre U-iii? entered for nc-t year also Instead
nf the U.ol to .nO'0 earn for lhe Peiniy
ranla, widely heraldeil. Hint company Is bu.
inr W.Oio Ions of lcl for the : car it will
build for Itstdf tan-otnollve nrdirs bale lei
larse, the tola! lur the lirsl uuarlir of the
year belli about l.V. siriUimt ..rs) fur nil
of lsli We'lerii Imt.lniieiit tnaksrs m- nv
inj wld Pibllcit to ttie prubabl- , urtail
in-lit of their oulpul thn year t-e,ius. i
lilitb prn-" and scarcity of soft sln bar
Some of this. Irjdu i-oiered fur hart at l.i,.'
lor the seen ivl half and lu ollirr c.ss .n
Sc. and hither "
CHICAGO. March . -Tradini wat well dit
trlbulrd and of a fair volume Cnliiii
blrte i-alned a lioiui Klsswlarr 1 ho prnv
ehanfi were of u fraeliiuial onler. with
Lindsay Ltfht shnwln thn inot olwt
The tood demand for Edison t. waa the lei
lure of the bond department. 'Hie summary.
Open- ni:h- laiu. ii..
oajce uu. ei est,
I Am llndiator ,!'.', ,,, 51,
4o Am hhltibiilldllir. 47 1; K
f, tloolh Klthenep, 33 :
i lioolh Pltla-rie pt 74 7Pt vit.
K Tool 7.V. T3'l ;:i
70 Krllsol I3n 1-il
1i1 Ulamniid Mali. 1, ..IOC, l'ip, 101
Vi lilt llrn k f kj M',
W Kan Cltv rt t, pf. n fi i
IV10 Ltndsav I.Uht. .. U -W 'i'i ',c,
p) Nat Carbon pf. . i:i'j :s tll'i
-.r, Pacific 1. .is ct, i,:ii; e.i
f.; Peoplet lia top, KjiJ lop
W3 Pub Sve US 11.1 liri
34 Pub Nvi pf J031J Ml tflji;
Ci Ouaker Oil i ;:.in :iv:,
M Quaker Oalt Ilf .Mill. 11"'. I hi
tf. Seirs lloeMlcll ,.it 1 ,ti
if, siir-wurl Warner.. vJ'i vv
'.if' r:-!
tm swill ft 11 i-o'i 11M4 1.-11
tl Uu Caibide. r,l 171 171
IHimwiiao lty In-Ih,, .'i'.. I'v ijh'v ni.a
Vi-- l-Mieuil (., . VW V lft;t,
innu Mutual Kllf I &i..sl0(Tt 'o'i wt (.it:
woo Pnb flvi U MS D(i m'i mij,
Investment Service
Our Bond Department buys and sells inveatraeat
securities, investigates bond issues and maintains an ex
pert statistical service for the Company and its clients.
We invite inquiries regarding investments and shall
he glad to send our April "Investment Recommenda
tions" upon request.
Auk for booklet K-ltf l
Guaranty Trust Company of New York
140 Broadway
Fifth Arenae Ottcs,
Sh Art. iii St.
Capital and Surplus
Committee Ut TMscii.ns Tariff,
IncrcHSfd Cooperation and
tteprrseiilativcs of Industries affected
by tlio dyestuff situation recently held a
conference In tho room, of tho Mer
chants Association with representatives
of the domestic manufacturers of Inter
mediates ami coal tar d products and
with Dr. i:. i:. Pr.it t, chief of tho bureau
of foreign mid domestic commerce.
As a result David Klrschbaum. presi
dent of tho National Association of
t'lotlilcrs, has appointed a committee to
b subdivided Into thrco parts to confer
on 'the necessity of 1111 additional tariff
on dyestuffs, to discuss the necessity of
legislation to prevent unfair competition
on uu international scale mid to plan for
further cooperation between the con
sumers and manufacturers of ilestulTs
The committee Is composed of llenr
Wlggleswo-t' , vice-president of tho
lietuol Piuducts Company, leprutentliiR
hiuAy chemicals or crude uiaterlalx,
J. I. Sclinellkopf, pre.-lilclll of the
Schoellkiipf-llartfordOIaiina I'oiiip.my .
W. neckvre, pnstdeiit of . Ucckers
Aniline & Chemical Work, representing
manufacture's of coal tar ilc products,
Arthur II. Weed, secretary of tlio c'nonit
c.il Manufacturers Association of the
I'nltvd States; Krankllu W. Ilobbs, pres
ident of the ArllnKtou Mills of I'.oMon .
Hiram J. Potter of the American Woolen
Company, representlm; m.imifactuiers of
cloth who purchase djet, direct , I). !'.
Waters, president of thn Master Uyere
Association of Philadelphia . Albert
Ilium of the United Piece Pe Works,
representee handlers of iles as dyers
of fabrics of all kinds. I Livid Kir.-, h
baum. represriitinc distributes of tin
Ished products, and William It, Corw ne
ses retary of the National Association nf
Clothiers, sireiar ! tlie lommlltte.
lirTTKi:- ItecflptN llshter, partly n -it-count
of tr.i.jMir.atitn !fl'ii- Mnrkt
Hti Vdticnl -71 Iotnutti rontltiuftl jcII
sM'cUli fur tillu't criJew 4f frcrlt mi l
hfl.l k.-ri.r. T)ie laMrr lw uro oHrrr-l
ut wltliln r nr fr-li t'n itiurv trrh
llTFt .lliil f4-oii1. ulf". T lr , 1
LTit(l4a t'l"'!!!-'! Up i.ln.l t.ljltfi
I. tT ti'Mi lllwiiT. p. 1 . flitt t k UUl.'.iCS
l1 tlUt hlKtl Ir' '-r. ItiiTV
t-iiv !. ftc ; T- !iirhHr f.-nrira
lo!. T-i'l3 . VTlf. "'--il3. rci. t
n4.1l. 'Iilri-., i'.-..t hum t. 1,
;is3it.r . pri tit i t Itoit f, ;ti j i. "v s.
IjcM 'trt SiiJSv . tirnt-. 3i r.'..- ,
..,-iin,l- 3': 'i .1 1 ' MM, 30 it lv , m t
ilutrv , eon 1 t. pt im", 31 j . rftt -
x ite.l cxin- 30t., nrMi. , l .Ilf .
iirtf. ;;"v t 2" , p r klnc !-" ir r t
Ii.4kf. Iitir ; . a. . ro '.
t'lli:il. Market . -titlnu'i. Iirm Ti .ill
pr.iJrb f v Iio.h milk hf .iith
tu 1 tr.t.l.nc Kttn wort- ctT re 1 it
MtiMit rlui.- 'U "i-rrtiii.t 4-f Urc r
oitt-nmvH in primped. U'hi.- mi k iii
iitl lifiliLtrr are comlnc a U;t:e ini-f
fr"") . f.itir nearer Trl'tH m itp, uh.1
milk tl tt. Ufv t-pt(-f.i!i. 1 1 91 i s '( , .-f
Hpe f.it.cy. ISM I1 . current unite, t"
.li;4L ; ftlncl tUli-lr-, ; ! - o II 1 '
(i4tIN. I n l? -sc ; Amerl ir lie J an 1
frfli, ItitZvct Mute fklni'. liM -pcl.il-.
l"a-l IT- furrei.t nuke. l1. y U4i ,
ctiolc. II', j 15c.
KfiiS- -Itccelpti Mr tiu li ti".itt
" i.tO ' It-it rltin-' l wt rttt
tlfji.jtKi ut linn itrici-i i ".MiinpUr
-iti.ifi'1 -iiiini-H in ulMirb r t-ipt. , .M.h to
urptUi f .r t.ton.Kf. Nr-.rl') wka ir ,
lar uti'l onlj ffttii v l.vrco t.it t 'min.,! ii
full ioti,tlnfia I'rli't- I'ri i en! ipfc
tirst-, Z -is IS i- . ".oni1rt V'JnM'v . iii
turn, 1 s lg ! .'Ot . itenf lv j tr r w Ii t..
P.," , I rmwi ;'l 'i.J'v , .n r . , 1 ji
!,Vi: l'Ot'tTlM - About tS irn wr
tililoiiitt'ii -ftTtiit;' Itumi'l pirl
Mctlvo -nnl rccriptu clCtiiir.i up fairly we"
nitH Influx iushIh wt i.p4n rl tt h"
0ttlet1 t'i.ty. I'.itH'y fowl .tV.1 at P-j m
c. premium
DK.:SS1I I'OIM-TUV D-nmi.il rontlmif
niodmt on Hccm.nt of hlti price u 1 1 1
tli llnillrd uppl s NurtirlPiit to nupplv
the trHIi 1ml toi k U -'oinlncr mur
trW from Soutliorn tioltitu oti uc ount of
iuIPt wmiHit 4il ilenrlptloru hlllnp h
uin'luins'il prlc I'roeii p'ut(rj -r.iinj;
iiUMltriiiiiy -it farmer iuot t .ni 1'rl 4
Turtkcjf dry iwnkerl. t-ro h1"- iii
toinf, ty plrJiel fiiV 'n'- fnir i if" J
C il .! . itii" kriuK IV t' W. -.-ttrrn.
mi.k tn!, Ki li . con. tt t. i P
fnwl-, 2 to Orj' p.i-'k'-ti 4-.t"i ii.
lbt. nuU ovr t" ilopti, 'i . I' ti 17 it
IS'c , titntrr -n 1 1' 'i-i'Mi, ir
ptckril t. It.. UIKl UVrr. V -i t!- . 4 i I...
19 U IVHc. , H lt Mil I uu !" 1 1 'i J3 1
Utftpfi, .hMiI, !rtft. 1'., f!'t ; .1
rooat-rr, P-jMm , 'litis primt" wlidr.
10 Hit to tluieii. K:, y '.!, p 7 7 lt
I3ui. lurkev-, frotu, dircii1 ounir hm
timi. r0- , Tent- Ur p' k'1. Hvert:
tnat " N. -'. IV 1 1T . l-roll-Th
i: tf box, lx to : lo 30. 'ttrn fn1
fattP', 2ifVoi rlili'km- 1: td t.oi, nil 4
fert, al to 3'i U , SltiS.'c . IJ to U m ,
W'C corn fril. 1 3-i Uu I'll.- , 3 m
7 lb. i!Vu tile-, fov-U, U t-ct'rn, bux-l.
itn Jf iul vcr. I'-'HHr'v , 2h tn iZ Uo. .
17ivr , olJ roo-fr-. P'iir.i- iiiir,f
liiir PUml, :oi2li , Western, :'izte.
i"(-ij4, Wcitrni, Iii.'i0c
WA1.I, AHT NOVI1I.TV TO.. INf, 11 .
furtiirer of fd' t.iptr nl "a hprlnr
ttrctl. liat iiiiiiie 111 m.hIkiihi, nt tu M.t'i
itrr 1. h'Mltie. T'l iituinuv iwi 111
. ortiot ii e,j mi April .". Ilil4 null i 'ii
tin! flmk S,'iHf"i, iklildi wat ., f lent .,i-.t
In rrne.l I11 IIUIKHI, in, ir Aii.li.i'l t,
iir-tlilMl' iMll in In Im lir.ipl. n.i
1, -.n ti eil h' I,.'.-r llrot f.tl I lit t-v rul
UnrKI l,il"arJ r-pl-KOl. II, 111 M'li 1,1m I'
MieriiiHii. 17". uml II I.'iiM. t:.0(i Mil
ike t. Mlmlne. Hi mtl-n'i rMl.l lli.it
tni .ittlgnnient vj- 'mil" I ! '.1 K of
eiipllHl Mont of tlie i.ijiitnj In
let!'! I" lll''liliiery unit tlie rein t ru IihiI
tn Eft oilier nniiity Irmn 1'iiiike r- l.v ail-t.mi'-t
mi merih-iiillnf .M-11'h.iiulli- mi
iMii.l la rt'lintitril nt f I'.'.niin, 1111,1 itn.
ililmry Jin,!""!. I.tulilltllet nr at.niii
fin nnn
rll'l.l'l) l'HDlll'Pl.t I'lllll'i'HtATION, nf
.mile rliill aventie, wlil"li iiiurhrt"! elirin
leal prni1iiei. I111- illeil u I'i'llildii In
haiikrutitfy llli llaMllllet 4,,'IMI In Hire
ereilUnrt ami wl tn"i. lontlttli.tr nf
itio Inns "f tulplilile poKilr at S'eiv
lUinliuri;, N J. Hie ennitimy wat In
iiirpornt'il mi Anrl. 'JI. tlilfi, ullli up
II11I Hoek Jll'.OOU .Intepli A KcikImii 1
MAItV A IIA1.I.V. ilmler In ilry con.ln m
I'lptmntWM" N V, lint ttlerl H prtlllnn
In iLinkriipt. mill lUlilllil.t ;iii:i .11,1
Mtteu ii:i.i
HAM hll.VllHMAN. tlmp fnreinan, nr I fin
Henry tlieei, lint ttlnl ,1 tiriltlnn in
tiaiikriiptey "IHi lltlilllllet P'.'.n;',:; ,,n, nn
Hankriiple) 'lieilnli.
Nnt.SON t t.AIHN, I.S'i ' , iiMimfHrliirrie
nf -.Hi-It ut .'il l.'itl T.lfli tlrerl. hit
Hied ei'liedulee ulinwlnir llhlllll-n 14, ."77
and iii-ti't. :,nf'll III tln.'k.
WU.I.IAM Kiilll.lllt, III I111: .11 in ,tt
llltll tlreet, tllni .11. 1 tiusntt t 1 l,r.
l'nmptlMii Art lnle 1 'iitntmi . iii.iiiurii.
Hirer nf iufkl hii.i i,.ire nuvri'lrr
,it .'7 Nnltll HIMIl ttreil llinukl) 11, lnt.lt
all attlxniiirni lu Nun Vork lu I ten J m 1 1 1 1 11
1 1 1 eent.rrn
M.MIAII l.A.-kllKW , grneer .mil ileliealcten
ili-nler nl V.7I1 eteientli tuenne, tnmlt an
nhtlEnnirnt to lluiry A, liulr.
il LtaaWd St, E. C
Wtwinj.V. Ma-eti .-Tli market for .-op.
-r share- as dull and Inrhtly lower. Kail.
LV, . ,V0,'K" rra fractionally loer. Boston
'"'.'i'? 'H?1 N" -en leadlur in
Ml-ivllsneous -took were reason
"", J nil rruil. Torrinrton slid fulled
Mine Mnihtiiery ,.rr amoiif tlie more scIIto
aar Hit. miminar 1
Opeu- Hlfli. Ixiw. Cine-
,i a it . 'M est. Irw.
!!. Adrenl ire . n . -1- .1: ia
,.- . . " i "
.11miTH im
Alaska Oold : ;i
ViX) Allotie- i. si
i ii-t
4t..', Amer zinc v
mats t, .sin m
"n Cat & Arizona..,,
t.'al & HrrlM r,fi
19 t'eiiltiiinul !,
I".". CoPi r Itanie i.
Daly UV.t .. . . jij
i ? K.int Ilutte t:,
.11 franklin 10
T tiralltiy ... .... ysi,
3. j i.rreiie Can to-,
101 Italic 11. !(
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M 1 npir.ii 1 011
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t Kerr f.lie .
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1 i Mi..in- ;
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tiatuioil o4
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liri m M.rj-t I.mid... 7.
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t'alai i-r.t-
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trim IKii.tniii i
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'iintiil 111 I'oliniililH liii" ami Uleotno Olher
tli.iri iliiit'nl . linn loin-. Iiul tllltll I'liallKPt
nerf re.'tirileil The riiuiiu,ir
Oiieil 1;1 ,n. Clp,
1 Hale in,- f el rtl. nr
1 Am W 1,1 M0I1 4ki, ,1 inj r,
1 (..I, Am W 1,1 .Mill i 1.1 l.i la M
:i Am M'uir 1 ipo 1'1't i'
in I'.ir.ei liner it.it
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n Ohm F11-I Oil Iki,
rA tlklllhnill.l Hit . ill,
in I'ltlt I'n.lt S7I,
it I'lllt I'lale liUtt II"
;.r. 1'iire Oil ik,
in 1'ittt Oil k lint . ts.
711, ,
"71, I
111'. ,
Iiti Wt Ptinuli A II.... VW-t ir.li,
ltr, IVrillli.ll Kiev.... M (K
Alabama Power Company
First Mori; Thirty-Ynr 6 SiM Bonis
Dated March I, 1l
Inter et payable Mnrcli I snil Heptembr I In Now ork rily. 'allable .it, lid ami InterMt on
any lulert data after September l, ltr.1 1. Coiipou hotiiU, I.CMX ileiximlnatlou, with ur1lri
of rcglitrallon aa to if1nrip.-l. Unltl Mtata Mortvago II 1'ruat Coni'any. .New York. Trustee.
For detail reuarrllng tlie aloie Imiio. attention Is rWled to u letter nf Mr. .lames Mitchell, President of the Com
pany, eoplea of uhlch -till Im furnlslicrt on n-quesl anil from which It will txa liotcU tbal.
The Alabama Power Company serves, directly and indirectly, the major part of the urban population
of northern Alabama, including the so-called "Birmingham District," comprising a total population
estimated at over 325,000.
The property of the Company includes a new 70,000 H. P. hydro-electric plant, now being increased to
90,000 H. P. one of the largest in the South and a new 15,000 H. P. steam turbine plant, together
with a comprehensive transmission system, aggregating 675 miles. The Company also controls, largely
through subsidiary companies, undeveloped hydro-electric properties aggregating several hundred
thousand horse power.
(Year nudad rabruary 39, 1919)
Gross Earnings $ 1 ,029,768
Operating Expenses and Taxes 422.462
Net Earnings $ 607.306
Annual Interest on $4,000,000 First Mortgage 5s 200.000
Balance $ 407.306
AsMltlanal Flrat Mortgag Batiste can anty Im laaiiasl whan tha nal
aarnlnia, for a sarla af twalva mantha, hava feaan at laaat twlca
tha Intaraat tharaan, inclurflng Bamla araaasarf ta ba taauaa".
Upon the completion of the present financing, these bonds, in the opinion of counsel, will be secured by a
first mortgage on the entire property of the Company, and in addition by pledge of the stocks of its
subsidiary companies owning the undeveloped water power properties mentioned above. The duplica
tion value of the present property is materially in excess of the total of First Mortgage bonds for
which it may be made the basis of issue.
The State of Alabama in general and the great manufacturing and industrial ''Birmingham District"
in particular, afford a large and diversified market for the low-priced power that the Company
controls in abundance.
Wa tacammans! Thaaa Ban ate tar Invaatmant
Price 962 and lntrst
The above bonds are offered subject to final approval of counsel
Complete Circular on Request
Pending (he delivery of the definitive bonds, temporary certificates will be issued
Harris, Forbes & Company
Pine Street, Corner William, New Vori
Harris, Forbes & Company Harris Trust and Savings Bank
Birmingham Ry. l.t. & Power Co. 4' .
Cartrr Coal 6t lion Co. Itt 5t
Citirens' Cat ? I'url ( o. of Terre Hmile
Itt Mtge. 3-
Clinton Iron & .""l-el to 1st Mtgr. is
tol spring Liht . I'ovttr Co. 1st Jt
Columbia Uimrrsity ( lub 2d Mtge 4s
'Columbus. London if Springfield Ry.
Co. It Mtgr. 5
Consolidated Light t Power Co. of White
hall Itt 5s
Denirr i Rio Grande R. R. Co. Cum.
illative Adj. 7' . Cold
Die Llectric Motor lo. Itt Ref. S. V.
Cold Bonds 5s
rondo, Johnstown & Cloiernille R. R.
Co. Cons. 6s
I'ulton Light, He-t (V Power Co. 1st
Mtge. 5,
Kamut City Niutlierti Ry. Co. 1st s
Uiuoln llrM. Light . Ponrr Co. 1st
Mtge. 5,
Ne Ifltidon Ins & l.lri I o. 1st Mlge. 3t
New London Cms tn Llntric Co. 2d
Mtge. 5.
New York Sinmfotd Ry. o. 1st Mtgr.
Inerraae of i!ll,00O,no In Nrcarl
Itea Mure lleremlier ill.
Ai'curillnt: I" 'i oomplUII'Hi in.ide puP
J r rtert1jy 1j Hie N' York I'lr.tr
lug lluu-o Aeot u'uii' Hie tui lliion iif
Gritit't Nc Vi-rk i ,it oinil inn Ks tin of
March 7 -in"-l n-unli liit'i
liniolintHiu to l-Tn t.M.UOO. ,i Mlii.irtil
with li.'rt,0'.'.0ii m I'eieinlier ..1. t'.Ml
tlie tlllle nt tlio preV.liUh islll
There .im little rhange in til" luah
Item and laiiful iiiuin y iin-rie
iimoiiliteil l 534.I.93? i'Uft. of tilth co"
tmtl lertltlciite itrre !3i'J.:i4;. toil uml
leiml teinler 1 13.09 1.S00. 'Hie toliil law
ful money llifreate uver the date of 111''
prtivitln? rail 4,C.Tr..4ji(0 Ae.-epi-
atU'eit af of Mart'li 7, mil"., nii nimtetl In
J.O.tlO.SO". ikhlfli .i( an tiiort'iiee 01
I'mler llabilttleti ilciuaml clco.its n.
of March 7 tat-t riiiioiititiit lo H.S2I.
ti33,00O, whlt'h l a Tdliiitltiii nl JIM,
7;'0.OU0, an lOHUMITtl til Hi" I '' "tin
lier 31, 1 91 a. i"all-
Miidrrnle olllt Miohii on Mtlea
of llll.'J.VI llnu.
The ivjflre in irU't wat onti inoiKriittlT
oil--, total t ill'" amo.liit'iia- I" : l"-.
nl 111" lll.'1l-elmie a li-lioilt mill prut,
rhaiuet fiicrith Karl in If.o l.i llir'-e
uat a hitler frelmic nn tealtert'l Iniilti.. In
c lu litis .1 ino.l-rtti' tltlllainl linill Wall Mreel
and from llnrnpe uml in .ilitfiioe nl moif
lliaii inotlri-.iii' tfUliie 1a-:ini: Ha'le tut t t-ett
ere not btljlnt lieai 1. Iititin.r an I il
thought that tale, troni IliP toiint! rre
tnmttthal larter than the nVtiiaml The
Mart'li potltlun alviiiin'.l : imiiil at Hie ilOfe
tin trrs mo-ler.ile tti eriiu. Inn ttie lain
inonttit -linttril nil .tni'i' lone :t'"l hn.il quo
tallOll" fnr Ilie aillie iu.ltinll iTt I I lilt
eliansetl tn 3 pinntt Ininr
Stltlrt uele ri pnrli'il 'Ii Oe eott atul freitht
market Ute nu Tne til.iv nn lu.it nf S.iiii'i
It at loo. ami 7t ul 'i1 hut oflu letlrr
da? ere Ml adj' Willi 4t iiunlnl ut 1 4 tn
PI.'', t kl '4i , "r nl IS" alio It if) 7r it
J.V . all lanndtill trulil Tim tpnl lllarkrl
k ters' llue'llio awl pine " uu, liaii.'nl
eiltll Hlil 7t illole. at '' ,e
'Ilie nflicial Prtili iu ralilet repnttktl an ad
t atlt-e (it I i...1 III Hln el 'hill't' mi l.oi'ilnn,
milrelt prloeii I'i Itm ad' aint'tl ', i,it aiii
t-antoa ttat tlinliali.e'l Iteivlplt at Hln .l
paniot kiero ill it lu,. afaiinl 4A last
tear. lYlf a follow .
Otien llitli li I'lot. l-rei
Inu i tl etl in rlote
Maseli " k 1" I" ii'ii II kii
Mull i ri'iiit 11 ii:
ty '.'. k '! k 4J l !, 1 i,,
.inn,' .... i (ik ,n i t.
Jlllj- I f I l " 'i"ll TT I '
knriKI .... k Hint '! i
!et.,iilhe' I !'; k f; i ;i t'i.'k 'll l
O.'lot"! k ,. ,, , i ,
Nfiirinlte- I :i'nik II t i,
HeeetntM-r l k .-. t i.i .,, 1 1 K.
Januar , n.mk it k.i i
FrbrilalT - .. .. IMnio.' if.:!
Otu Elevator Co. Conv. Gold Dtb. 5s
Peekskill Ltg. & R. R. Co. lit Mtge. 5s
Pine Bluft Nilutal Ca Co. 20 year 1st
Gold Pt
Pittsburgh . Luke Krie R. R. Co. 2d
Mtgr. 5t
Raleigh t Southport Ry. Co. Gen. b
i.nta Fe Water & Light Co. lit Mtge.
Prior Lien 5
Santa Ke Water & Light Co. 1st Cons.
Mtge. 4s
Spring Drool Water Supply Co. 1st
Mtge. 5
Standard Strew I o. Gold Deb. 5j
Tompkins Cole Stone Co. Ut 6
The Tri-City Railway & Light Co. 5-
Coll. Trust 1st Lien
Union Electric Co., Dillon, Mont., 1st 5s
Water, Light 4; Gas Co. of New Jertey
Cons, & Rrl t
ni i: 4i kii. iath. tatH.
Dedham & Hyde Patk Gas fit Llcctrii
Light I o I ti 5a
Detroit, Tol. & Ironton R. R. Co. L'quip. t?s
fit K pkii. voih. tntst
Colorado Springt Electric Co. Itt 5s
Plioi f I 01 ' i 40 lO Jullll. SUatlM,,.
$5,000 POLICY COSTS $75.10
Age in dlildendt reduce thla cntt utter
hrt ear nrjatilied I s 4 7 . tiit 1 1 o n
uon rue for tpi linen jto'l y ut t our ,t ire
l.i'Kl NltODi:, .H7 ru'.tun M , llrool. jo
the balt:::ore il'jiket.
BALTI.MCIHK. Minli Nn important
Hianfr n.tiirrf'l III our market in day I'm
tlrp ittut wrre frat'tlonallv loe- t,iit
I'util-ll O.l and Itat prefrrrr.l n, ntn,t a.-tive
nf 1tiee tpet'Ultttt Itnl'inton (hi ittt a
hew ttivli trai1. In IwaJH rannmt from
in. In In t'Jnttiu al ICS Honda t,rn n,illtt
an I ileu'li I In tiiiiiniitir
Otfn Huh lt.o(
fvth t in; e.l etl in-
l."& li untie! 4. ti v, Iki, ,
:m Hull Tub U3'v IT'S H 1"'
li Hilt Tntf pf t , .ti, 14 t,
;iOf. 4'ont I'uwrr l'i 11 pii h-i
"ti t'nttl.ii .1 ,n ", pa,
IS I oticu Oil, tt, s,t
:.li I n.ifii O A li pf 't IS IS S
M i: khnrii 1 lie' . I 14 Vt it
1" Klk'mrn I'nal IS tk Ik ,
.Kili.tii.el.iik IIS IMS l.'S t..''i,
il full lll it III i K'l :? ,1 Mi
.kl Mil I ttllall v rlt . pnt UU, pi, pii
I'l.Mer. li A M Ilk '.TS !-, .,t,
t Ml Vertinn Millt . In m ;o .,
X, ti III. i llenmtij . . is i.,
It. Hnliiii.iui Oil !0S ''''t n Ii i.
ti Mtniii4lnii pf. io 'i t-i '.,
11!, Wallalul I) A ii 7', 7', . , ,i
.o(iOt iro Central 4t !., in, in,
jsiwa cotrien ! II" 'n 113 .pi '
'fi'f Klklmrn I'nrn ''IS i.' -i !;-, 'i:,
t 1, a Ala ifu ll'S I na, IMS n,.'.,
Ki' Md Mute It 'vt PM'v IH', PUS t'"'.
fil Nnrf 111 I. ;.a. t.i: f. , tj
i"i l in It & K niMoe tti, t . " v;
:i't ii I in It k I. 1110 o t ' h
I I'm It A K It k.H, t. ', i k74
, fm it a t: tti. u. i4s n', ..', . .
SUB-TF.-ASURY statement.
ri i:.-n,v
fai.l 1J Niil' fit it'll 1 in hank- I ' . inn
run 10 n.inlii i' fin Irmnii) i kul.u'ifi
l.o. 10 hanks "II da S 'ran.
" nun I , n 4 inn,
MSl'I'I I'llIlllV t IM
Paid Iif .-nil freaturs In Imukt t . .'js.iiir
Paid In In tike lii Mili.Tirain '.id:' nun
la.,-, in huuke ), 4(7, nut)
Oaln tn hooka tamo period pre.
iloua wtek 4,:4t,Al)
Dil- Marrh I, 19
Bond I'prtine nt
1 uicaffo.
Ii. M. I LItlll.
Call N uoe 1 n. Til. (a. Ilia (P. O.
No. .S4. ( able addreaa ".rii lal" A. B. C.
code 3 th K. n.ed. Lima, rem, )4. A.
Amerlean .Manufaeturert anil Kl partem
repreaentatlnnt Mllrlted.
I'lnt (Ian banttw rrlerente (Ivm.
MlTlt'i: nF l.l.ldVKNTII .1VNUU,
i MKF.TINil UI' .-TuCKIIOl.llliHSi.
I Th.. Illevemli Annual Mfilntr of tha
Mo. kholUfrt of llittlehe?u Mt, I'nrnora
, Mm will Uc held at It, prlnelp.il oltlca, .No.
1 7t;i Hruad Strt. Newark, Ni .tfrtey, on
Tu-rtU). April 4. IDItl, at 1. o'i lo. k lit. on,
for 111 fntlontiiK tilirtini.tia III Tn elet't
I four dlret'tnrt to tcrie tor term o three
I yearn I.) lo dMler n,l vot, uimn th
I upprn ' li 1 r.tlfl.'utl'.li nf it Mi'ltotl of
ith Hoini nl Iilreitor-, lltf utli I'oiuitiit
i tn itni tiitli't-rt nf 'he .'nrporttlon tin..
lhe lentil Annual Miiit nf nt -tnrk
' holder, held on April t, 111 and (31 Itt
Irtttii'at.'l tu 'h other lllltlnet u- may prop
eriv tonic hefnr t.ild nuetu,..
The hotikt for the 'mii-fr of tharta of
Ih ottpltul tto.'k of ti ror-torMtlnn, both
pr.'frrrc l an I . tiun.'" tin e t luted at
o.lotk V. M oi Wrilne.tl.it . Mirth t ,
1"1 .inrt w i h n-op-niti at lu u'ttui .
A M on WedneMiif. .pi Hf
.Vtrk. ,Sr .l-rr-'J. Marill 1, 1 9 1 i.
14. II JONi.f', ,-tt.returr
I'artont, K.ltiljt, hliltti , tll.
Tha reif'.Ur unnuitl ir -etlna of ttoek
bolder of the at.oie nan. ! Cuinpanr foe
(be alertioti of Director In conformltr
Willi i.h.ipl'1- 17, Ut, nf It.naaa, lilt,
and lb iraiisttrflon of such other bulnaa
aa inav eom- befora t.td in, tine. Includ
ing' the rt nitration of t'j''h tinn at ane
lima taktn nr atithorl-.d l.v the Hoard .if
Dlreotort, ih C-'i-u'H I'o.ntnlttro or tb
Kiecutlie Oflcrr of th roin-ttiny aa ma
b aubmllled to ttit TiitttltiC, still p held
at the cieral oflUe of the Coinptiiy In tha
City of IVirtere. K'tna,, on Thurtiay. th
4th day sf April, IHU.at 1" 01 o' clo ok A. II.
titocit trtnaftr Pooka -.1,1 Pt cloaad fraia
Uia afiarnutin of March 7th until tha cuara
laf of Apr!' 'ih nut.
f t-: .k-t'H vr. vrrtldtnt.
K F. ilitroutl uu .'-cratarr.
The Home Insurance Company
(TltiAlt MTtUn '
St ork, V r.-li 13, 11.
Til Uiinii' i;inioi, t,tr .ilre- iora of thla
Company ' 1 h lit' 1 at t lie office of tl-
roiupaiii. Ni ', i'dt' r.' on xtonday.
Avrl' " 111" I'" ' open from 12 M to I
Vn. I' M
'. MM II I e Pi. A t-tiretare
olAMilllli kill list. (Oill'ANt.
i 11,. ' Mr.
rKMT.HHI.I -Mil K limilKVU Ml. "0,
N.'.t ork t ut M .r h . . lull,
I'll l"rt loll, of th 1. intnptnv liaio to
ilat- .so. Into 1IUII1.111I .f Hln AMI
"Nil IIAI I' 1 S'i 1 I'I II '' VI from the
ettrniime of ihr tnintitm '.p.iii lhe Pre
f. r, .1.1 k pat.tl r l,l Htll, i,t til
nin e of tlm 1 input. t 1 , , , Preftrrrtl
MO. k holileit of re, or. I 01 Apt I ., ftp,
The irnlitfer h.,-ikt . f III P- erred Sin. k
pi ! , 1 . 1 ,., v 1 . 1 , , int Ni thr, .
o'.l.ti l, p M . in, 1 . 1 d "ii April 17. Oil,
It I'll 0' ' ' it 4t V M
.Id,- I.MiS Ireatllter
The .1. I.. III I I, M N (,:MI. r I (IHI'.,
II f.tt'lmlilii' flu. Sim lurk,
M AS.iiii:i.f
kkiHui lilt M 1. 1. 1. IT Hit )(,
ll't Ho.t'tl of litrcl.-rt Die s.-n
' I I 1 1 1 1. I- IM l.l.l.i'I UP t'i,M
I'.tM ha ,p ,1-in.i , ,ilnl of our ,11
ofi, I'i,1' t" r 1 1 1 I S , 1 ,"1 ih, Prrleri.
Mink tt ihr ' '..-up., nt t,,i ii., iit.ailrr rt
II, e Mauli Ut' I'i" l'.i'al.,i' e-t, 1 1, ,.1 ,
Apn' 1 'I, pip. i" '" i-.ii . ' -i - nf . . .
l,o I.., ,,t Im 1 I ,lu Mil I
Ul Pi tt I 11 Mi il I l I itlif
1 il I'll K 1 il'
IHI. M Mi Ml I I II. I. - fllttl.lt III
' Hi I -1 r l t' "i li Mil ' 1 ' 1 1 t
It ., 1 . a .il' II. ' , In -
if - " ,p tin I I I "i, 1 .ill .J 1
Van h '' 1 .1 ill' . n 1. 1 tf j 1 1 h.i
I tt t il lit 1 - 1 on 1 lit , ., , ,1 .1,1. i -I
1 I.' 1 pii, I p.t'ttl'li mi .'! f'11 II I '
I d "I Mo I I "''' ' "f r
1 tir.l al '1 1 I- 1 .' 01 lhe k h ,.,.
' i.f pi i I in
PI I ' il I I V ' '.-r.iai
I M.M HUH klllltll.M.I. Wll -II I KM V
1 1 1 . t
I ti'ntii -r , -l' 1 ttn 1 nf ' ' t .- ,
r;r, 1 on 11,,. .np'iti '" 1- ,'f Mi pi
hit- 1 1 1 1 , 1,1 1 r 1 p tt-n, piil 1 lit,. ,
ti 1 kl n'.l' . ' ' 1 "' " .ii H" 1 o. 1, .
1, ft. on 'l ,t It . I 1 1
lil. il. S k ."I Ma- I lip.
I'll I v I. I M . .. nf'
k.l t I , I, kill II , III III.
(III. M I.I IM I 111 Mil t illll'l
II' I ' I " 1 1 I ' III. I .t,,l .
I.. 1 I ..irii. , .1 . 1 i,,l ,.r 1 tv
nn 1 i 11 .1 .1 ill If . up'' ,' ..! ,f r
I It IP I Ih 1 Ht
' 1 11 I ,tt 1 1 n 1 Pitt t
hm i i'ii ''''
IIII11 MIII . till I II, .-r 1. ut j
iif the I ll nl Net, 1 oik,
V. w 1. tn. M ir. h '.'l.l, i t
'I lie nH,r . ,,r lurei'ioit 1 . e thl, ouy da
1-1.1,1 u tl.tiiltti.l of ,-l Pl'.lt CUM pa .
able on ami after April I al. 131. Th Irunt.
far book, will remain t'lotd until that dtta
l.l.MUIl 11. WlirTAKi:il, lathltr.

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