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THE SUN, WEDNESDAY, APRIL 26, 1916. . COTTON GOES UP OH LIGHT DELIVERIES Advance hi Silver's Value Will Vrnlmbly Tncrenso Tex tile Pemnnd. KAbTKHX KELT SHOWfiltS t.lslit deliveries on May contract ,mountniK' to belt, ecu 1.00U and 1,000 tales ero ri-ponwlblc for tho Minrp HP turn In c-stpril:iy i-ottnn market. Tho f0 was At a net Rain of 5 to 7 point. 'slth tho near positions relatively sdron. The amount of cotton delivered wan the mlleft for any first notice day on May rmtraet" within recent memory De ,irle in New Orleans on the name, opt-on amounted to about 19.000 bales. The weather map showed light scat lid showers In portions of Texas and the Eastern belt. Temperatures were t.ther low, however. To-day's weekly neither report does not promise any ftatur of Importance. A local linn make tho following breezy sraljt'.s of the effect of silver on tho c itton filiation, particularly with rcfer , to Hid Increased purchasing power cf China Wine I.linR Von receives ten ounces pf silver inch month for his labor. In Arrll. 1916. this ten ounces of Hllver ixchangtd Into HnKllsh money nt 24 itnee an ounce Kave him :o shllllnKS. In Arrll of this year, with the prlco of niter t 32 pence an ounce, he receives ;S (hilllnps and 11 pence. Lust year his S'-tual outlay for food probably cost him 15 shllllnirs, leaving hltn only 2 Hillllngs for clothing This year his actual food costs are about 20 shilling, leaving him pearly 7 fliSlllngs for such luxuries as What Is true of Wttg T.ung Koo U in trje of tho Immense population of 1'iIU nrul Japan and the entire .Orient, ho use silver as a currency and wear cMlon clothes for economy. Win Lung Koo Is only ono out of one thousand mil ! en to whom silver at 3S penco per ounco even potential purchasing capacity for luxuries about 6 nhllllngs per month, or. o.prescd In American currency, stout 11.10 per month larger than last sesr. .Tt.st hou much of thin SI. 10 will )i used for additional clothing In hard to siy, or whether tho manufactured poods are obtainable Is another question. 'Th's purchasing power will, However, cntinue to accumulate as long as silver 15 j at 31 pence per ounce. It Is this iTtiier.se added power to buy goods not ie' manufactured which Is the under pins strength of tho bulls In the cotton trarket, but seemingly they prefer to talk f scarcity of spot cotton hon In reality pie thora exists. Admitting that Kuropo has ashore and afloat 1,400,000 less cot- n than last year, the fact still remains it America han a record orcaklng i :!b!e supply for tho last week In April, ir record breaking mill stock and a record treaklng quantity of unmarketed cotton. These latter factors will assert them iflvf commercially long beforo Wing l.sr.s Too can find the manufactured food, which hU newly acquired wealth soul.l Permit him to buy. If we were ta'.ll.'h on cotton we would u tho rarclty of goods and not the scarcity of cottin an an argument, but we are not t-'l'ih." TI.e market closed steady. Opeti-lllirli.Low. Clos- Prrr. lnr. est. est. trie. close. Kit. .. 11.7 ll.Si 11.77 ll.PMill.Sl 11.63 jJr .. u s7 i:.t4 n," i:w3i:7 n.nitti:: imtvr... 12.23 ia:i:.st:,36i:.i:.sfii:a i-enter is.41 i:.4 i:.Mi:.H i:tsi!is ..r.alry.. 12.IS 17.57 12.43 12.61812.S3 I2.11U1.'.4 Mi; 'ti. .. :: i:.7i i:.i i:e$ai:.7o i: "Kd Tit'-' al market for snot cotton was steady. 1 -oi ,ts advance: mldd'tiir, 1215c. Southern v market as officially reported were uu r , ;ci tn 1J point advance-. New Orleans, fa'.ve.lon. 12.2JO : Savannah, ll'.c.; "ii-,Ys, 12c ; Aurusta, 11.76c.: Houston, 1. 3- .No Orleans market closed steady. On-n-HUh-Low. Clos- Prcv, In; est. eit. In?. close. '1st . 1! ': 11 77 1U4 ll.71f.ll.72 11 64filt. . i 11 H 11.00 11 3 ll.94f(ll.M ll.J7fTll.St fw itr V", 12.0 11 vt 12.02fil2oj 11.970U.M Is -ml- r l."5 IS 21 12.o 12.16fM2K12.lVftl2.il :invy . 12.20 12.21 i: w iijceuw 12.wn2.21 The Urerrool market opetie.1 easier. There n a !a!r builnen In sput cotton, wltli ridtllni unchansed at 7.57J. Sales. 6v9 ti.et: receipt'. si.W bales, including 11.000 Axerican. Closed quiet. Open- llliih . Wi. est. rirJure. ... 7.JS 7.C2 J 'r-Aumit.. 7.;i, 7.1 Cw .V. v 7.4- 7.43 Jn.-Keb 7SS'i 7 Ths II M b! ;"; Julr. i:"le.; October. 15 3c; January, ir? mnrKc; iner was auc to open to ci' ' to 1H points Rdvance, Tort receipts and stocks: Re- !it GOSSIP OP WAIL STREET. neainUr ntvldend. The probability that the directors of the United States Steel Corporation would not declare the rumored extra dividend of H of 1 per cent on the common stock was forecast In the ac tion of that Issue yesterday. Steel com mon opened at 83, a gain of ; of a point over the provlous close, and early sold up to 84. Its top for the day. It failed to hold at that figure, however, and dropped back to 834, around which price It clung till toward the last hour of trading, when the tone became easier mid It went to 83U, closing nt 83. Even those who had been most certnln that tho extra dividend would hn de clared lost hope when the stock dlsplajed a yielding tendency, and rumors began to make their appearance to tho effect that tho Corporation would ndupt the policy of maintaining the regular divi dend and of building up n great surplus for use In the daya when Steel might bo pauper" once more. That tho extra dividend of H of 1 per cent., Involving a disbursement of around 12,500,000, could easily have been made Is evident from the quarter figures showing that the surplus after dividends for that pe riod 'was 3:,S54,17S. SHIP DEMAND KEEPS DP WITH YARDS CROWDED New York City Calling for Stractnral Steel New Iiridpcs Planned. Shipyards at home and abroad are full to overflowing, the demand for ton nngo Is unprecedented, and ships of all kinds ttnd of all ageei are eagerly sought by buyers. A recent snle of "00 tons of marine Plates by the Carnegie Steel Company re veals an Interesting shlpplna romance. The plates wero utilized to repair a coant wlso boat In dry dock. This ship, now In service, has the distinction of having un successfully Imitated a submarine, of having changed ownership three times, and of having appreciated In value 1.600 per cent. In tho Inst two years. A few months prior to the declaration of war In Europe an accident sent thin boat to the bottom of the bay and It was sold under tho water for 17,000. The purchaser, at a cost of 15,000, raised the craft and later repairs cost 12,000. Sub HIDE AND LEATHER OPTIMISM. ana me owner was dellchtod to tlnd a ready purchaser at $125,000. The new owner put tho vessel In dry dock and tho steel plates above referred to helped to make extensive repairs. A few weeks ago this llttlo boat was sold for 1800,000. Strel Earnings. Tho quarterly statement of earnings nt tin. TT.it...! Ot.-I rM.Mn.l.. was well un tn the hent ncrtntlnn. of 1 30,000, but negotiations fell through. A thu financial district Wall Street had been expecting that approximately $60, 000,000 would 'be the net earnings for the first quarter, although there wero somo who ventured that they would reach 165,000,000. It Is Interesting to note that net earnings for the first quar ter of 1016 aro practically flvo timet greater than thoso of tho corresponding period of 1915, being $60,713,621, against $12,457,809 last year. The net earnings for the quarter Just ended wero about 19.000,000 greater than for the last quar ter of 1915, the earnings for that period being $51,232,788. Perhaps tho most significant feature of the recent quarterly earnings state ment outside of the fact that It breaks nil previous records la tho startling In crease In the net earnings for March, as compared with the two earlier months of tho year. For January earnings wero $18,794,912 nnd for February $19. 190.398. During March, however, they Jumped to $22,722,318, showing that the scale Is a steadily and' rapidly advancing one. nlrrFfnra Will Consider Preferred Dividend In July. The directors of tho American Hide and leather Company adopted a reso lution yesterday authorizing the officer to atato to the stockholders that at tho next quarterly meeting In July tho ques tion of a dividend payment on tho pre ferred atock would be considered. Tim resolution makes It plain that It Is not tho policy of tho board necessarily to pay off outstanding mortgage bonds be fore contttderlng preferred dividends, and states also that the board awiiltM consid eration of the dividend question until July In order that the earnings for the fiscal year ending Juno 30 may bp ascer tained. This course. It Is said, w-ns deemed advisable because nt the sudden fluctuations to which the company's business Is subject. The resolution was Adopted as the re sult of Inquiries from atockholders. In Its statement, however, the board sain explicitly that the action Is not to be construed aa meaning that It Is com mitted to the payment of dividends on tho preferred stock. A balance sheet aa of March 31 shows total assets of 139. 630.719, Including $1,616,541 tn cash. The report for the quarter ended March 31, 1916, shows net earnings of $556,030, as against $548,794 In 1915 nnd $147,245 In 1914. The quarter's stirpltm SOUTH AMERICA GALLS YOUNG MEN FROM U.S. Plenty of Chance for Success, Snys National CHy Bank Envoy. 1'ruspects, The balance available for dividends on tho common stock of the Steel Corpora tion for the first quarter of the present year was $3!.207,953, against a deficit of J5.389.S62 after preferred dividends for tho corrcsiKmdlng period a year ago. Thus the balance available for returns un th common for this first quattcr of 191G was equal to 7.71 per cent, on tho (50S.302.500 common stock, or at tlin l,Mtors sequently It was offered for sale st I was $390,665. as against $383,149 for gotlatlons fell through. A the same nerlod In 1915 and u deficit of month or so after this the European war $18,130 for the quarter In the year bo changed the complexion of nil shipping . fore. Tho surplus for the nine months Several additional large sales of foun dry pig Iron aro reported to have been quietly closed In tho Eastern territory ended March 31, 1916, was $1,299,102. THE GRAIN MARKETS. MroiiK Wheat Tone Fresh Crop Complaints Provisions Mronsr. A more bullish sentiment ran through .i.. .... . . . . , . i . . i . f."!""" L.r he,wee" ?." .Bn..":?'?.tlt was gradually raised under the lead tons, some of the shipments extending Into 1917. The' New York Air llrake Company Is still negotiating for 4,000 to 5.000 tons of foundry grades after Its recent purchase, and two other larpo con, sumera are negotiating for upward of 20,000 tons of foundry grades for deliv ery over the last quarter of 1916 nnd the first half of 1917. Very few Important structural con tracts are now pending In the Interior, nnd most of tho orders for building work reported In tho last few days are for of the Northwestern markets, which wero affected most by tho unfavorablo ac counts relatlvo to tho spring whrnt situ ation. Tcmjioratures wero below the freezing mark In various parts of tho Northwest, and there vvcro scattered rains and snows, sj that seeding will hardly bo complrto until mid-May. Au thorities say that late seeding In pre vious seasons has been a handicap to the crop, and the condition Is the mora rerlous this year because of Uie lack or rarm preparation. Low- Clos- Prer. et. lnr. close, 7.H 7.1, 7.(3 7.W4 7 0) 7.604 7.44 7. ".tst) 7.J1 7.41 7 S7'i bids to Liverpool were: May, , , oripts, sTsr Ptotks. Curevon .. .4i' 4.77 731,!W V Orltans. 7.S37 7.S71 il:w, ?'! MM 10 U.910 t-wannih :.o: :u us.itii JJvrle.ion... m f.j? 67l)ei wiiminrion... tn :;i 4,4 ott:k its mi wi.4s: Interior receipts and stocks: tjnnsu -. : :is isuv: V-eirMs..-,-. 4 i.ws ii.9 ft Louts :;t j.O) "fl.tM "MKOU- t.(M S.7SI MiM Estimated port Last receipts lo-dar. week. ci.Tf Ren t.oo to r..ic w Orleans,. to 3.000 2,w Etpom T'ter1,VT were :4. bales. 'a fvr this inn. 4.3,y; baJes. U: eeason. 7,W.;3 bales. Last scar, 4)C,03t 3..W lri.Ksi 7.V1S K.343 163.M9 s:.c u.i;i Last sr. Total Total DIVIDEND DECLARATIONS. rvUorr."nyci!Tir,rrik.8,,t- Am, I"ab"' -iiiiu.i y, jiay i r Bdr.nin Corporation, com. llicj April 27 - -..t,wl, v. urporaiion, . " :5rl April t v. Manufacturer. ' P ..... uuurr, quar ter pM. Clr.rh1e 1 Coal Cor- I-4T m, quarterly.. J4v,or Wanon Iron and fe. quarterly. v:m nd Ice and it. 1. ke ripi Unt, u; foro.dated , 'Pi r quartrlv. . . ' n HUtr't Tl ii n of .stv jersey, Y - ' n Villltles. ,"-' . i 1 '"'P ' iek f'eutral. Hu ll in s'k Central, Hub a'r, in Huitar, e. pfd 'i i) Simxr monthly I muI mi iiBttr. extra. . iir. ay l ISfi May 1 l;r May 1 12.00 June IS f 1.00 April :s 1 April 2 J li 't May 10 14 June. 1 , l?e Jun 1 -I 30c. May S - 20c, M.iy 6 - .10o. Mny S - 20c. May S There was occasional llmild.itlan In exceptionally small amo"uts of shapes, tho Chicago May delivery nnd It was In tho New York metropolitan district, vld-nt that somo of the largo houses i.owevcr. mere are numerous projects n the trado were not wholly In sym- largcly for loft buildings and apartment I)athy with the assertions that another houses, but In'ludlng a few hotels, which hull campaign had received Its Incep- wlll eventually require bctwven lO.unO ttm. At th- same time tho more san- aiul 60.000 tong of fabricated steel. In gulne political affairs Involving tho uie last rew days inquiries for thrte I'nlted States and CJcrmany were con twetvo storj- apartments, two twelvo ilnclvo to an expansion In the sjieculatlvu story loft buildings ami ono eleven story trade. Confidence on the buying side of ion minding navo come Deioro tlio rabrl- i wheat was also stimulated by the evl- t-ators. l?iirh of thrt nniirtnTcut hn!KM .1 . . .n..in .tAMnH.i n nH .a. ro. S 1ft ti .v., nnn,.m 4.V.,.., i. ------- - . : "-. 1 I'll '"'k ' '-'' v.... r;111,, Ior nciween t.uu ami i.uuu tons ot wheaL tho knowledge that much of the steel 1 Mi. n,i rm-h nf inft t.nii.iin. being turned out was not booked at th ,vm requlro from 1.000 to 1,500 tons of , fstlmitc-l at 00 present high prices and from a review-of MructuraI inciUlpii tn ,ho In- 58,' c7 lh. hailing .vnllnhl. for A vhlem! fnr L..1.1... .1.-. ... - .. Liverpool told nf -.. " 1 -iiuiricn iiiiii. i-dnie uii ai-iui a iicpk iuto th.it cntri. anil j are one twelvo story apartment calling for maud for wheat partly In antlclpMlon of ff' ,0n:-,Vl!0 b,,M,."B T?"M '''I0 imder..ooJ,7hat,n.hlharee'krorn'men5 '. the December, 1915, quarter It Is evident that this ratio of earnings on the com mon stock bids fair to Increase during the next and succeeding quarters. In tho December quarter earnings were 5.S3 per cent, on the common stock, or nt the annual rato of 23.32 per cent port buslneea for th session gu.finu miineiB. prwicinsny ount. The report from vernool told of a weak spot market at mat centre ami a generally lemaraic a' The Cost of War. The war. according to statistics com piled by the Mechanics and Metals Na- t onal Hank, is costing tno nations 01 Kuroiw more than $90,000,000 a day. or at thH rate of $650,000,000 a vvceK. ana tons, and another twelve storj- apart ment calling for 1,200 tons of tfhapes. Revised bids have been submitted on 500 tons of structural Meet for the Drel-i-cr twelvo story loft building to be con structed nt 7 ct llfty-seventh street. near ViHn .tvenuo; a fourteen story tn tho market for a fair amount of Amer ican rr.iln and bullae n-lth thess Inter- ret Is expected to to consummated this wecK. The world's visible supply of wheat ihoui tho fnllnnlnr tpttda! fn the Tnttf-d flutes 5S.010.000, SKlnt 3S.000.000 list ctr In r.inads V7.ooo.oou. aaalnst 20. oon 000 and tn and afloat for the t'nltej KluKiImn 02,000,000 bushels, against IC,- apartment hotel on WVst Knd avenue. , vv'.l iThV rrVetInn tl advance, tn th ana a nuuaing ior tno lieograpnicai so- i rTarkot clety nt 155th street and tlroadway. which will require 1.000 tons of steel by August 1, when the second year will j each. Tho Kits Hiilldlns. on nroadway have been completed. It will have cost $45,000,000,000. Great Britain alone will bear $11,600. 000.000 of this burden by that time, nnd Germany's bill will be only slightly less. To France tho cost of carrying on tho war by August 1 will have been J9.250,- 000,000. From the Btausiics it is evi will tcqulre 1,100 to 1,200 tons of Ftrac- weri ascribed to the advance in tho wheat list Much of the buying was for tho account or snorts ana vv '-stern elevator houses. Th prnepect of larger country ofTertnrs was against outside sup port, but actual receipts at interior points A determined young man. strong In phystque, mind and morals, has plenty of opportunities fur success In Bouth America If he prepares for the work there, according to O. 1'. Austen, statistician of th foreign trad de partment ot the National City Bank, who spoke on this subject lost night be fore the Madison Avenue Men's League of the Madison Avenue Hapttst Church. The whole question of a young man going to South America to angag tn business depends largely upon the vnung man himself, said Mr. Austen. He must study before he goes the dif ferences between the country he select for his venture nnd th United Mates; must prepats himself In the language, the terms of currency, weights nnd measures and the different habits of biiiluess and dally life which exist there. He should study books about th country and learn Its hl'tory. "The South American continent," said Mr. Austen, "seems to tno In a position similar to that of the I'nlted States nt tho termination of our civil war. We had then an enormous unde veloped area which needed people nnd rallwnya and capital nnd manufactur ing Industries for lis development. The people came, tho capital was largely borrowed from Kuropa, the railways wero built and the great producing power of the Interior developed, nnd our exports of foodstuffs nnd then of manufactures grew by leaps and bounds until we have become tho moot pros perous and the wealthiest country of the world. "Hut wo have now passed the etngo In our national life In which, we have any considcrabln quantities of food and manufacturing material fur exportation ; wo require them nt homo for our 100, 000.000 people, and our rank as an ex IHirtlng nation must be maintained by the sale of our manufactures, nbroad, and we need bright, vigorous, energetic ycung Americans to cooperato In that work. Our place In supplying tha world with foodstuffs must bo taken by South America. Sho needs people and capital and railways nnd experience. Why should not the United States, which has Just gone through the experience of de veloping her own nrea and accumulating enormous supplies of capital and wealth, nld her sister republics at tho south with theso requirements?" THE BOSTON .MARKET. BOSTON, April JJ.-Jlost of the stocks In the mining trroup closed with fair rains. Strength continued in United States Smellliw. American Zinc and Uutto and Superior. JI tho coppers Osceola advanced JS. topper HaniT, IS! North Butte, 1!, and Mohawk. l'i. lloston Elevated was weak. The sum mary: Open- JlUh- Low Clos- sales, ins. est. est. i" Hi Adventure 4Vt U Ahmeek 100 1441 Alaska Gold 13', VI.-. Allouer ti 7M1 Amer .In-i I1H 7m Arlion.i Com Va I'm Ilonansa S7 470 llutte H link S'i lTf-2 llutte c Sup 01 tSio calumet A Ariz... "3 SO Calumet' Heels l- m Centennial 14 IIS Chin US 242 Copper Kaiure tilS L-l'i K.11 llutte 17-4 110 Franklin 9 10 Orcein Cui.wa... 17 Ufl Hancock U4 10 inspiration 4( THE SUGAR MARKET. tural shapes, and nn apartment building ' Th'eYo 'rurY of "port" iKsV ness. althouKh no conilrniatlon or any trade was recelveil nt 409 Park avenue will take from COO to 700 tons of steel. The H.tltlmore nnd Ohio Hallroad Com pany has pocket It Is eald that th frelrht situation 'at ths Argentine will operate, agilnst exporting from that country, even thoucli the amount 1'attirra Attain Strong'und Higher -Longs Take Profits. The market for snrar futures was nsaln stronir and hlhr, with prlcci exceeding Mon day's hlch records early In the daj on are. stve buylnr prompted hy the pronounced strensth In the spot polllon On the adrame. however, lonrs were disposed to take, profits and lale In the d-iy the market developed a reactionary tendency and c!oed at about the lowest, with prices net unchanjed to points hi cher The volume of business was smsller than on Monday, total eales ajrrriattn 14.9M tons. Tim situation at larsn was looked upon as containing elements of ileddeil trenth, as the Importations are of scarcely sufficient volume to supply the demands of refiners, who, tt Is said, are not dlspofed to take or ders fnr more thsn moderate nimttltiet nf re fined until ther hare provided the raw mate rial with which to fill them. In the spot market there were tales of ie ov) bars of Cuhas for Apill shipment at jv,r eo.t ami ireism. r-juai in t- -. ior eentmui;.il ? Hi 101 14 CI 2H s .37 :'s 3?4 72V tM IS. f4'4 6.1', 13 9 47 10'i 41S W 29 4"4 i 1', S'I sv IS S714 17'i 27,'4 3 K 144 ft 7's 71 1?' F4 .JJ 71H es 4'4 15S tl f'4 ' 4i-i t7'j 4 100 MVS it M elH U'i 9 4f',i U. 4H 4'4 4 16H 3 i:u jrv; av ; TH 7' 14 7 kv. n 01 u'i Si-Si Executor Cliartorcd 1822 Trustoe 4'i 111 14 7!s tl .37 2 V. W 7l!s IV) IS M C2"k 414 15 8H MV. 4'4 t4 ltV. 1M4 is 3Vi ii!i; 7's 1 77 3 B' , ll. ''. 4 H 74, ;Si M4 .37 7' i: 44 us so'i n, "? 7.11 Island Creek 49 t.'l lslo ltnyale iVt )"i Kerr Lake 4i Keweenaw 4 ) Lake , I6V1 17n Mason Valley Ji (i Mass Con U'i Miami .; m Mlchltan t, Si Mohawk 97 li Nevada Con 17'i m New Arcadlao,,.. "'.i M Now Mrla 14 SX Nlplsslug 7i I'M North llutte S6V, 100 Old Colony 3 (m Old Dominion e.vs 217 Oeceola tip. JM Pond Creek lt't 1U UultK-y 01 7S Kay Con 72 SO .jnt i r. ru 4.to Mwiiinon Ii t'i t. 1.1 Shattuck z:'t n 110 South Lako 7, 74 7S IM st Mary s Land.,. 70Mi n iit. Mj Tlntlnn ST- 3Ti SI yi Sui.enor Conner.. 17 sot Tamarack M M W 100 Tilnltimne. .S ,S7 III. 1J ! Mlicltllllt f'iS 71S S9S :-, 1' S nir!t pf f 1 81 H -.-o rth Apex 4S 4'4 4 a - I'tah foil MS 13S 13's To t'tah Copper JOS 11 14?6 ftsh Metals OS f'4 OS 4i VictorU S S 's 10 Winona 4V 4', 4'i US VVolverllin 15 H'j 16 RA1LKOADS. I.-4 Itostnn A Albanr..lV 19 1H lV 417 Hoslnn Klevatcd.. 77 7.1 77 72 1 lloston A Uiwell.l-m lm U7H 137S A lloston 4k Maine,. 4 41 43a 44 U llos 4 Maine pf.. 4V4 4'4 4 4 loo lloston A Wore. . 4S 4Vi 4', 414 7 Mast Eleo pf 31 31 71 jr. N Y N II ft II .. f0i SI M M sold Colony 151 161 1M 161 10 Vermont A Mas..l!5 115 116 US , MIM'KLLANCOUS. 7S Am Ait Clu 111 tif. l-v 0V M 177 Amoskesr pf ...,l"i; loot; 101 10 Am Mi.-iir. i"s i1" J Am Su.ar pf . Ils'i r.Z Am Tel Tel Vi'H 214 Am Wool pt ctf. I'7S 3'.AflWl :i& aoa vv 1 pf... 474 S1 Kdison .' r :u Mm Oa ISO Mci Tel t' 7 N r. Cot Yarn.... " 13 N K Cot Yarn pf. f- SI N K Tk-1 133 it Nine lliv 1M M PiiUiiian l'-O HI 1 11 HeecH Iluttonhole 1 1 1 1 Swift A Co 12"4 KS 17 , im Tnrrlnnnn 4TK 47H 47i 4M I'nlted FTllIt 147 I4714 1461, 14H1, i;m i n ihne Mach... r7 71 I'u Shoe Ma pf.. 7S OX f S Pteel 3'i 4 I' S Steel of HSU m Ventura Oil OS 's lS tlOND"'. !Ofo Am T A T col 4s. KU 140V1 Am T 4 T cv 4Ss.l" JO-0 A G A VY I fa.... ; :ii Mls Kir Tow tt. "' : N C Tel Os.... l'r'. 1'Ai Pond Crek s.... 03 The Fames, Loan and Trust Company Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue New York. LOHBOft, 15 Cock-spar St., 8. W, 26 Old Broad Street, E. 0, PARIS, 41 Boulevard Hau8mann BERLIN, 60 Unter den Linden, N. W. 7 Trftvelers' LetterB of Credit, Foreign Exchange. Administrator Guardian :s !'V 3:; 41 m, J's M Siivt HI IS KS l7t f7. 73S ', 0 1? lift llf-4 ll.M-j i:?S l.'7S 071, s: 47S HU IS ar, M 133 1C1 f? M'4 RP. 11SS U' 107 -9 W4 4, 8'v l.3 I IMS Id"'. I IS I i:S 4JI C7H ns s."H ll". S LIMA LOCOMOTIVE CORPORATION To (hi Stockholder: All the preferred stock and a very larce majority of the common Mock of Lima Locomotive Corporation having been deposited, the F'eadjustment Committee has this day declared operative the Plan and Agreement of Readjustment dated March 15th, 1916. In order to afford the remaining holders of common stock who have not deposited an opportunity to participate In the benefits of the Plan, the time for receiving deposils and for receiving subscription? for preferred stock of the New Companv under the Plan, is hereby extended until the close of business on MONDAY, MAY Ut, 1916. All depositors who have hitherto subscribed for such preferred stock nnd have made the first payment thereon are hereby required to pay the balance of their subscriptions, namely PS5 per share, to the Depositary on or befow said date. All stockholders who deposit their shares and subscritie in respect thereof during the time hereby extended, are required to pjy the full amount of the subscriptions for new preferred stock, namely 590 tier share, at the time of deposit inn. All payments will be noted by the Depositary upon the Certifi cates of Deposit, and all deposits nnd payments must bo made before the close of business on the said first day of iUay, l'Jlb. Dated, New York. April Mth. 1916. ItOTlERT n. COX. .lecretary. . 14n llmadwar. .. V. 15. 'CAKV I'AHUOI.L. Counsel. . n. cnrrrN. i haxki.in q. nnniTN, hAMi ij. it. am.i:n, Iteadjustment Committer CUAUANTY TIICST COMPANY OF NEW YORK. Depositary. WO llroadway. New York City : -co vv t t r-s ios' i"'S jo; 7J 7'S WiS v. lOS 107 75 7". lf:s ?. les im id.iced n contract for n coal avtllalde Is ls thn''?ir,., b"he.. 1 nitty paid, which e.taMljbed a n hlili 1 r,l tvcr-i-tti ho Vnn"triiet..d at niltlmnn. "K"1"" " !.ulr"1!" "J .,'00'00,. i r,wr.l for spot transaction. There were afoTlilcf Conso to ro constructed at llaltlmore Th. ,pPo.ltlon Is that thr.e condition! ni l 1 runinrs that sales had been mado to rettner. 1'orici HediUn Iron Construction Com- in.ik for a better ssport oemanj for Amen. . tor .M!ly .htpmcnt at 5,',o c0,t and frcitht Conoltditcl Copper .. About 600 tons of steel will be eorn t-rv mom. father cond lions - nn,, tll,r, wa, a ,alp J i w) , , po , rnnlnlated Arizona . rho urn. fubricatorn have, taken L.r2 K.h. 'I'! " ti'l "n""' ,.;',2'J...:1 I Kteos to a local refiner at 1 14c c t f. irron Itcno 9 for the second yenr. or or mtcr ,lUlwlnB t0 co. fa,,ri,y. wh t &TtTlS . . what thew t'normoui sums i rea.ly ' tructon ,n LonR jplnnd cv for ,h, ";Th. Itt perhaps, better realized when It Na,ion Sucar Ker .nB Comrnny. te- tT,ent"y dlvriei but thma kst re'po."" , The refined market a. quiet and' nldered that tho HKcrcBate of the , , fi0 of f.n,,,,.;,,,.,, shapeH. advance. In other rral". Pountry orfer: aPl-esrcd to b, catchlnr up 1th their THE BOSTON CURB MARKET. DOSTON. April St. The clotlnc curb bid and asked quotations'. Alrar-idn Ilijr state Oaa ninsl.am Ilohcinla IV-jrnlA nutte and London , llutte and New York.., noton Ely llo.ton and CorWn.... Iln.ton ami Montana.. ri I'otnolldated ... in conn' two years war cost represents an nmount threo times as Breai an ino cm.ru -.iu There as very little HUar offcrlnc on the Cal Corbln and the In-I naiy stroiu Kajlc sn.l Iiluepcll.. renners i-r sitona. onlcrs. ifiolilficld Consolidated . ... ... ,. r I ... i In, hive nep.i.ed. the Interior recelntn for I nllt OWII1C 10 the smill Oners Of raws fre 1 lloiljhlnn ioe,i)uirn.iiiM,i,M,,),i,Mt,i ,nP day amountliis to tino.f)ii. aesln.t .',50.. not disposed to mak .ales Price. froIron lllcom T" V, 7vL im,H. In th. R c""iract mr a caritniur mm macnine l-(o :,t jar. Weather conditions are . nrmer at 7 4"o. tor nno jranulated lauzauon 01 w.o ... til0ji and rolllnir mill to bo constnicte.l favorable and there are persistent repo'ts j pniT iohow unuea oiaici unu irani , -0 t .nnni.in.. ion nn nt t Hm. sirs, nut many in the trade tear than the deposits of nil of our national. ' Mk(M1 ,!r0... eomp!alnt. later rsslijj ,,t f more or banks. tOH.OOO war at the end oi wo , ,na b ecn uuai.l ed a com ract for r.On tons bu-h-ls cost six tmes as much as our civil war I" f,hrlPat,.,l rt-uctural fhanew for the Provisions Further .harp adncei were i .d.ri, mm tnrtv times creater or IaDncale" 11 uciurai fnapea- ior uie .,rcrt (l ,h t1B mHrket at the hlRl.et level and will reach a t-uni 'or, ,,n Custom 1Ioup(i to bo constructed at Wll- , ,he eon The contant cash trn l hs. than tho national debt or tno unitcn . ....,, v c ij,,, 0rdr havlns been resulted In ad lltlonal undoin? of hedecs and , , i,. i mirm j-Tiery ume wa. ..-u, ... ... . . . . .. .. v-.ttI construe- St.itea of the clock moves the war costs tho Entente. Allies s:,000.ooo. Piss- tit. Company, which lias th ire-nernl contract. Lnrkln .t PatiKster submitted tha low est tender to New York Slate fnr tho construction of a hlpliway lift bridge oer llmiiloui recK, .New orK, canine Hide- anil I.enllirr. The lndlcatlj nre. nrcordlnt; to a statement Issued by tho dlreotorb of the .M..in..n ll. .la mi.l I.ntlir (nmrti.nv after their mcetlnu yesterday, that be-'fr pen tons of structural Med, but tho bid eoi-iiIeii the eiiKincers estimate l.y $40,000. There wero n number of other bidder". Yesterday It was announced that all bldn have Ixen rejected. for, the) vear la out favorable consider.! tlon will b given to tho matter of divi dend payments on the preferred Mock. It Is pretty generally felt In the financial district that now whllo tho company Is cnjaylni; more prosperity than nt any other time In Its hiEtory there Is consid erable Justification In the preferred stock holders' demands for dividends. Tho back dividend on the preferred stock amount to 1114 per cent, and no disbursement has been made on this Issue slnco 1005, when 3 per cent, was paid. The company has strengthened Its flnan- Ocneral contractors will submit ten ders to-day to tho New York Central railroad for the bullilfns of n pnssonRor (itntlon at PoUBhkee-psle. uhlch will ro nulre 650 tons of fabricated shapes. The Merchandise Hotel or exhibition l.ulldlnc for the Hush Terminal interests to be constructed at 132 and 131 West I-'orty-second street will require only 1,000 tons clal position considerably and Its cash of steel. Tost & MrCnrd have placed on hand and lit bank now amounts to)tlm order for the steel wttrlt with the Ms,- Stock .Mnrkef, . . TUKSHAV, April 73. , !' of beeves were 771 hesil, nearly " or tii h nere consigned to slaughterers, mere as no reported tradlne In live. " ' Toe feeling was steady with rather . nwe-ate receipts expected for tVednrs. msrkei. Dressed beef was In mod "' 'leniand at HOKVic for city dre.sed "llve 1et, Hcceiols of fUe were Ml bead. Incliirt. 413 for the market, part of which :.V Ul arrivals. Trade waa limited, but y en about steady. Common to fairly a ;1"1' '"'d at ITfl$10.: per 100 lbs. ViJ dr"''l veale wert steady at KSO ..l,h S'lsctsd carca.sse esceedlni lie lie?"' co"",r' dressed firm at ftecslpts of sheep and lambs wers tit "a. In- ludlnr. with previous arrivals, s "P ' Hheep wera almost nominal, r'.. lambs duili tha peiia w.. Vii'.V" A ,aw unshorn sheep sold at i.'." Per 100 lbs,; medium unshorn inr Hi 111 Jll. merflum Hlnn.rl f ).)S J .,o; a f,w medium Hta.ta sprlnr somethlnc over J1.SOO.000, while, Its profit and loss surplus Is $5,545,391. Slrrt-Miitll Marine. Exceeding even tho transactions In United .States Stee.l common on a day when u waa possible that an extra divi dend mluht bo declared the. total turn over In Marine preferred yesterday amounted to 106,500 shares. Tho stock sold within i of Its former high record price reached durlntr last Janu ary, iidvanelnR to S4W. It failed to hold at that Utture, ho-er, nnd closed at SI '-j, a train of ut of a point over tho previous close. The common, while not t-o p- Ive, displayed mote strength, ndvan njr 1V4 points for the day to a close of L'3. At one tlmo yes terday It f.d ns high as 25, the highest flguie which It has ever touched. Tho strength of the common Mock and tho failure of the preferred to hold Its sains In view of the strength the lat ter Issue manifested last week led to tho rumor that tha American Interna tional Corporation, which has been credited with the recent heavy buying of the preferred, had tilled Its order and that the common was now being accumu lated. The buying of the Junior Issue was reported to have been for the .c count of the, International Banking Corporation, the controlling Interests of which are closely linked with those of the American International Corporation and the National City Hank. American Ilrldgo Company. The lloston Klevated Railroad nnd tho city of Hoston Jointly rt-coiveil bl.U for tho construction of two lift bridges over the Mystic Illver, which will rcrpilni 1,750 tona of structural steel. The bridge for the city of Hoston Is to be finished by l'-cbiuary 1. 1917, and that for the railroad on April 1, 1917. No award has been announced. see Rldlltz & Itoss hnvo received the con- Chicago price.; Whest: May .miy epirmber... Corn: M-iv Jills 0. Us. May July Pork: May July ... 1. ard: May Jtllv itibs: May July New York wheat prices were: May.... Arrll. May June July Aurust September Octol-er Opo'i- Hish- Low. Clo. lYev. In?. et. est. lnr. close, hp. ins ins- ins ii7s n:s U4J n:s ins n:s iioh ins iiov, ms no'. 75 S 7H 7S 7Mi 7S 7S MS 7tS 7S 44, 4S 4IS 41. l, 47 43U 4:S 47 CS :a..v :ik uio :s-v mm :j.s :ks 73 3!. :iw zzz: 4! i:m isc issji i:r 17W KM 12 47 17.U 17.37 17 47 ISM 11 47 1S1 IS ST i:o is.so i:m 13.73 1:1 CSoilnr, .... 171S THE METALS MARKET. - Clipper Flriu and Qule-t I.e-nil In Modernte flemsnd. Copper was firm but quiet jssterday. rroduclns lnterets have little If ny elec trolytic to eell before Aucust. but some of thH emaller producers and large eelllni: companies have Mny, June and July left over, which Is belnir sold at close to 30e. for May. 79Vjc. for June and :c. for Julv. files were made at these prlcea yesterday by second hands, but ths prlco rnntre nas Vic. for the higher In some Inetancen. April or prompt shipment won offered by second hands at JO'itfSlo. l-'or shipment In Heptember or later months holders were aUlng 7Sc . . Tho demand for refined metal ho fallen off nul.e sharply, but buyers of wire and tract for 300 tons of structural steel for other finished shapea are still anxiously In a telephone building to be constructed at l'aleion, It was reported yesterday that the American Urldge Company got a contract for tho Brldgehaln bulldlntr to bo constructed It) New York city requir ing about 1,000 tons of steel, but this lacks confirmation, nids have been sub mitted on 850 tone) of steol for a high school to be constructed at Portland, the market Home wire drawers are refuw lnr new buslneea. Exports reported yenter d iv were 1,200 tons to London and Liver pool, Mnce April 1 total axports have been It. 7 60 tons. The Ixindon market opened yesterday after the holtdsje at the same, level as the close last Thursday, American electrolytic belnr; held at (140, spot standard at 1131 and future standard at fl24. Tin nii steady here but dull nt lOHJr tps.c. for spot and April. There In eiill Mo. Plans and specifications for tho much dimcultv encountered In securing construction of a sugar refining plunt at permits for shipments from thp straits, hut Boston are In the lunds .of fabricators. Wlnn e'w It is estimated that 3,000 tons of struc- York jettcrday from Liverpool, mihlng tural steel will bn required for the flvrf 5,.13f. tons arrived since April 1. and Ho or six dhferent buildings that will be to 00 tons more will come In before the ..nnuir..ei...i t.-j. .",. .,. . c ose of t .e month. The I.on Ion market constructed. Tenders nre to be submitted . ,..i,-r m n decline, of is on .t.m on April 37. On the samu day bids will Htruiia and 10s. on s.andaril Hpot Htralts bu put in on the construction of a ten ' sola at u?s. ine r-ingnpore marKei was vlnrv telenbimn li.ilbllnir nt tlnv.n "P " to IIBS 10s DUl is eipecieu 10 be IRON AND STEEL MARKETS. Farther llnylnK of riff Iran Strel IMpe) Adrancea. Thera was aoma further quiet buying of Dig Iron In the eastern territory yes teruay and several similar contracts are on the point of closing, amounting to 30,. 000 tons. At Pittsburg one consumer has taken 20,000 tons of foundry itrudes and more lre tonnages of basic and besso jner are under i.iilUlloii. There ro ilgns that the extraordinary demand for rollad ateel products Is mailer In volume. In somo lines pur- "7". (iff fi.vuiuiii n,n rina chaSOS nave ueoii miiii ms, at i to head. Dressed mutton ...einexione aa-alnat contracts are 21 nor M 1 Cf-ni. lee. UUV l-i, ..M. W......UW ,au,tj The great demand for wrought ateel pip la reflected tn the new discount card Is sued by the National Tube Company, show lnr un advance of Z te & points on stand ard black pipe and 1 to 4 points on gal' vsntsed pipe. Thl la equivalent lo a ."ss quiet at H1lc. ner lb.: 'm!'n iwillc: h0. dressed. U'llo crt-mirv ilrn.ed hothouse lambs un oiuge. at imtt per carcass. ler.ip,, of , wer4 , hM( . eluding about half a car for the market. selling at lltwllO.21 per 1 .; at ti.7i. country sVreetta bog "MM lu. m n. te tit per fan on black aa II to w per Ion which will require 1,000 tons of edruc tural shapes. e Several other steel building contracts nre pending In New York city, Including tho Htrathcona npnrtmcnt to be con-1 structed on Fiftieth street, tho Khubert Theatre on Forty-fifth street, eacn re- quiring about 300 tons of steel, and an upartment house of thirteen etorles to be onstructed nt Madison avenue and Seventy-second street which will requlro 1,300 totiM of btructurnl shapes. Hans havo been prepared by Klels A Johnson, Brooklyn. The New York Bridge Depart ment will recnlve bids on May 4 nn 300 tons of structural steel for repairs to the Williamsburg Bridge. louar to-dav. Lead In moderate demand and steady, with rales of April and May at c, lat fit. Louis. June was offered ut 7Sc. The New Ynnk price was 7Hc, for spot, April and May. London waa down l'Ja. til. on spot to (14 and futures down 10. to C34 ts. Hpelter la dull and lower to sell. Deal ers and producers are anxious to ssll late ne.lver.VM. n,iul Ie Itvid &t StC, A.-rl. ut 18'. i-., May at 17Se, and Juns t 17Uo. Third quarter Is offered at KUc, East St. Louis. COTTONSEED OIL. DAILY FINANCIAL CALENDAR. KX niVlDBND. Company and Term. .Htk, Anil. Harrison llros., quarterly...... pfd, lli'i F, W. WoolwoTth, quarterly... com. 2 DIVIDENDS 1'A.TABLK. Nerth Bite Mltitnv, quaHerly I0. The rarlv advances In the market ranred from 10 to i) points. There was quits a little buying for outside accuunt, baseil nn the continued strength In lard Actual nil Is being well bought at the hlrheut prlcea on record. In the lute trade the local list reacted, with evidence of llqul. datlon In the near months. Thursday will be nrst tenner oay ior aiay au.ivr.y. . . Prey, closing I'llcet. Hpot 10,10 May 10, 14010. I July 11.0iSll.0S flsptemfctr October .!! t.ll Close lll lu.r.o in 14 if .o; It, IT t.ll March 1'uturcs , Jerome Vcrdo ! Li Itoss Open-Wrh-Low. Clos- Trer Malretio In est. est. Ire cIo- MeKlnlry Oirrash . S 405iJi: S J- Vexicau Metals , 5 37 6 57 f37 SWr. 42 t a Mtp.-i of America I ll-ii t 6.42 Nc H.lllU- , fV t( 6 52 f44 K 47a; 4J 5.IS New Cornelia . fif-4 6 Si 54 6 'Sfiisj IM New Ctah niutbam . l!( S1 f. '.4 tSStltM l:i Nevsdl DoiUlas . r.67 ill 6 5 4 6 63BS.'.t 6W old Dominion receipts,. 4S9 4 70 4 1 4 e--l Tl 4'." Oimndira 4 65 IU 4 Si 4.MOI 57 4 .V) Jlil llutte 4Hli(W 4 60 i .outhft Mtnml tw.irt Mlnintf ... THE PHILADELPHIA MARKET. PlIILAnKl.I'llIA. ApHI 75. A number nf local slniUs were hlst.cr tndav Cramp St Sons sold up 3 points, hlectrlc Storsje pained on odd lot sslej, and I-ako Suit-rtor tiaproied S The summary: Open. Hich. Low. C1n. Sales Ins. et est. tn. .-,) Am lias z i-i 1:0 :z Am Ity s 85 s S S'S 170 IlaldMin Ivo.... 1.7. i;, f7 f7'4 W Cambria Iron 4", 4 4S 4" i Cramp tc S-ons,... M (3S M M 79 Klec Stor Ilattery 6'i f.9, fi, t:.i; 10 rien Asphalt pf... 71'4 71', 71S 71W 6-1 Keystone Trl .... i:, W-y 13', 13S ?1 Lake SUP Corp... '4 S. 9, 9V 70 I.chlsh N.1MS ... 74 71 74 74 M lx-hl.-h Val 11 It.. 7"i 7S 7'S 7S 116 1. V Tranlt pf... 41 41 4J 43 IW Northern Central, H J H k7 SM I'cnna It H IIS ' 6'S IH 16 l'rnna Salt Mff..lfi l"i 100 y0 110 lVnna Sttel pf.... M 's 94 M 71 Philx Co. ,. 40'i 41 4.14 41 17 I'htla Co cum pf.. O', 42L, t:, 4:4 J.HI"illi Kleetr.c .... 27 S7, :7i; VK 154 I'hila Hap Tran. 17', 17't it, us, 6W Phila Itap Tt t e. IS n i:; j;J li) Hea.liiiir it H S3 S3 ttt) Tonnpnh. Itclmont 4i 4i 4S 4"; 0 Tnnopah Mining.. CV S'J S'4 f.i, 10 1'nlon Traction... 43 43 43 41 H 1'nitrsl lias Imp.. 67 J7 if (7 17 I'nlted Cos N Ji.,277 227 27H 22,-il 100 Warwick I & B... 1HS 104 tou 101; 1(0 York lire 12S i:, 1:4 KS BONDS, tt-1 Am Oas h Kl; 6s. 3S SIS 93 93 S,0 City 4s 1V1-J 10JI, p,2S K IMS 3M Klc 4 I'co Trao 4s MS MS SIS H', HV.) Klc & Tco Tr3C 4s 79', 79', 79'k 7.T4 1ioo Ih Val ten ISs. 102V 102V, 102 lCJV, I'.tK') L V reu coil Drexel rms 4Ss IC'i loon; joou jftvi riwo Ih Val ren 4Ss looij jooi, w it.il sw U-h Val Tr ref 6a M'5 sr.-i, 92S W4 8S00 Nat Propertiee 4-6s 70 70 70 .70 2, Pa It 11 sen 4s 101U 101 101H 101H l'a n It i-on 4SS..PV.S loss l,vv lfs lusi Phila Elec 4s V2 sri 1,2 U lil I'hila Klec 6s IM 104 in( 104 ldoo Iteadlmr urn 4s . Pt 91 94 9 4 2-i Mian Am Iron (is li:'i 10:14 lost; 10:11 ("M United Hrs lnr ( 71 71 71 71 THE BALTIMORE MARKET. IIAI.TrMOTtR. April 2-C'os,1on Issuea wera active ami urunr, i-nucipai gains rli-euhere Mere In llaltlmore Tube, Davison Chemical and l'miinylvama Water and Power, The umniarj . Oprn- Illith. Low. rnos. sales nif r.i est; inc. S3 Aninuei n a u. ?1 60 Haiti Tube 1I3S 114 i Haiti Tubo pf.... Mi 9414 6 Con Trust IN IMi 140 Con Power f v t'.O Cokilen Itef 70 20'4 2327 Coeden O & O.... 7'4 lisn Cn.flen O fl pf.. 4'-. 4 270 llavltmi Chem ... 67S 'sl4 3! Kqultable Trust.. 37 57 It Farmers Mer... 4'. 4 ms 941.4 1ST. 10li 20 7S 4S (7, 27 46 6 1'nlellty Dcp...mi 133S 133't f.l llousion Oil 16 in if. 10 Maryland Cas,.,. MH MS MS 140 Mt Ver C M pf... MS US US 75 Northern Central. M 6714 100 Okla Hef t! 20 I'tlin W It P. ... 72 73 73 146 I'll Tl Klec 27 27 J7 20-) VYarland 0 4 0 S'i U ti BONDS. tSOOO A C L C ctf 6s. ...101 103 V". 2000 City of Hal 4s, '67,100 100 1 3200 City of Hal ts, tl.ioo 100 100 SM0 City of Hid 6 100 100.1 inn fAM Con lias 44. ....91 93. 91 4WI Coden s., .,122 122 13 1000 Klkhorn Fuel 6s,, 11", lOfli; 101.4 im Mer k Mln T 6..102- 10J looo Mt Ver C M notes J9S MS 4000 Mil ref 4Ss J M cooo un Rr A Eleo 4s. i!U to loot Un Ity Jh K lac a tVi. li 10.' U I3U S3V1 S IV 47V, fl! Ill 9414 iv. 109 21 t 37 45 If .IS 16 l!S MS 'S 73 102 100 100 iot. Ml. 122 1O04 102 MS S3 Truro Tonopsh lleln.ont Tonopab Mining rnlleii cr,ie r.xic.ieinii.. . I'nlted Profit sharing... . Yukon Bid. Asked .60 1. .16 .17 11S IS 2 :s .M 1 ,M ,5 :S 24 .4.-, .61 .64 W .$5 .t-7 4S ' 4, 1. 2 .60 ,7-' IS 2S 1 IS .M ,K1 f. (1 l'i l'i 4 ( 6S 6S .10 .91 SS 2S IS 5 Hi lit .5 .f2 .(VI .65 .50 .f.4 .37 .42 IS 3S 2S 3 ns 16 : s .54 .50 .75 .14 .It 1 IS 2A IS US is 1; .30 .34 I 3 4 6 ri; ws !'. f1 THE CHICAGO MARKET. CmCAOO. April 2S There waa a dertled Intprnvemen In the tone of the market, Mil trading reflectel Utile Interest S-earsjItoc biictt. Stewart W-irrer, Union Carbide anl Chlcaco 1'neumatlc Tool made substantial palne l.nna neparimcni ocu ami pnis-i steady. The summary: Open- Illrti- Low Clos Sales. insr esi tsi ms, o Am shirnuiui 4i't 5 Ilnoth nh 90S 6 booth Tih pf.... -3S 91 Chi Pneu Ton! ... 7" 1"1 Chi Hv series 2 .. IS'i 21 Kdtson H- I IMimonl Match. .1"7 6 liccro pf ... Hl'4 20 Hart S Ir M ri...U'i a U'.inoii Prlcl;.... 71 w Unl-ay Llcht ie4 po Mtvlsar Lluht Pf. 10 IS Mont Wsr.l (if ...11Ji S5 Nat Carbon pf... 1.2 6 Peoples Cas to.s 1C2S l"ii, 1 z nin.ic -rrvice... iv I Piilillc Service pf ltd IM iniblio Venice rts IS 10 uuaKer ti.ns rui 31 7J., 7M, 13S III 107 tun 114 71 It 10 113. 17. IPS 110 IS K3 41S 511. IV. H2 107 MS. II 7? tfltt 10 113 1C2 4 31 73S 7S 13S 14' 1"7 !3i 11 73 11 1) 113 12.' The BuonviKe Railroad Bridge Company (Missouri, Kansas & Texas System) A (Jcfdult having occurred in the payment of Interest clue November 1. 1015, on the I'irst iortRace Ixntls of the Company, nnd a Receiver having been appointeii for the Missi, iri, Kansas cv Texas Railway Company, the ! lesv.'e oi me property oi ine nmve-nameu tompany, tne unoersiRneel Com- ! mittee, at the request of a laro number of the holders of the above-men- , Honed bonds, has been formed 'o protect their interests. It is important : that holders shall make prompt deposit of their bonds with the METRO- I I'OLITAN TRUST COMPANY OF THH CITY OI- NOW YORK, the De- ! txisitary of the Committee, at its office. No. -to Wall Street. New York City. . Copies of the deposit agreement mav be obtained from the Secretary or I .1.. i : . . c :. ...II-.-....... 11 . . r r i . me iJt-(To;ii;iry. ijeposuori win receive iiesouaDie ceriiucaies oi aeposit. Coupon bonds must be accompanied by the coupons maturins No vember 1, 115. and subsequently, and registered bonds must be accom panied by properly executed transfers thereof in blank. K.MKHsn.N W JUtlD. Sen-eury. 37 Wall Stieet. New York. MASTKN NICHOLS. Counsel. 49 Wall Htnst. New York. noitl ltr STItt'Tlll.RH. JR.. Chairman. WcksI. Mtruilien Co., New York. josr.i'li k. fi.i-.tciii:k, 1 JrtMdcnt Comnni Worsted Co.. rrovtdence, wsi. iirs wsiirtniv. DlrKtor The Home In-,urancc Company, lommlitee. FOR SALE Arizona Copper Property Intensive holdings ,ocated In ve' knovn dlMlend 1'iir t il.-'ri t. one mile from railway, ex ellent shuninc cornier and (told, omiil-te report farnihe,1, references re .jitestel rt ft., huv 137 Pun offlee. CUSTOMS DECISIONS. MS 110 s.. 6 t-Hnrs-llnehucU .. 1T"i 17i"4 17U 12 3i lot 110 IS S2' 17", 12-5 US ft rare-Itoehnok pf.!2 12 an siowart Warner.. M'i SIS 65 Swift 12"S 17'1-j 12S l-'S n Union Carbide. . 175 ITiT J75 176 DON'DS. JHio Chi Ilr 6s 8S 10,.) Com Kdlson 6s. 10,"u HSU Imhllc .Service fs. Oil, p'") I'co Dos ref 6i,,.lnos, 4U)1 t-wift t 93', 1021, Sit, ll.., 1S f.S NS l"2i. flil.vrtF.TTK IlOXllS Tho Hoir.l of leneral Appraiser, held that llthocr-iphe-l Mn boxes atiout six Inches square anl one ir -h d-ep, with hinged top,, used as con tainers lor clRareitei. lniported bv the merl--an FhlpplnB Cimpany, were properly taxed f--r 'lutv unjer pir.icr.iph 321, tariff net of 1213, aa smokers' article,, SritalCAL FOHCI7PS. .C The du'v l lowered on surgical forceps, neells holders, etc. Imported hy K A. h'och Co. in a 1erl,lon hsnlf-l down este-day by tho ll.-ard of I'nlted ,int-s General Appraisers I)ut Mils .-li,l a' h c r,t. ..f 10 p,r . e- ad la orei an J the l,...rd Hiids tint 'tin 1 -liou d liiv, been levied at tho rate of but 20 ! f cen- ad va.orem CI.AItlT WINIl Caret wtne. aeseee, by the customs oia. His nt the rate of ,',' cents per ksIIoi. under psrasraph ".'44, tariff act of as containing more than 14 per cent of alcohol, sherd have been taxed under th "sme paragraph at the rate of but 4.', ,er.t, per giJIon ns contnlninc Ie,, th,n 11 'Ut. alcohol, accordliiR to a deililon handed d.-wn yesterday by the H.ir,l of general Appraiser, This rullne usialns a protest of Kruus .t Co. of l'ltls burc iil'.ciuiii llecause the record In a test tase broucht before the Hoard of General Apprals, ra t-v f II VondeKrtft A Co. and Malttis A- Ware did not show- that orchids or Mid orchid pltnte entered here hv the pro-e,ta - were imported exclusively MOHII.K AMt (MHO H.UUIOAD COM PNV. rilitlpment lnliina Fund. Tlin I- AKMUltn" LOAN AND TltCST COSli'ANV. i .e-ee , I re-elie offers ot the Kqulpment Honds, serle. "A." of tha elOHll.F. ,v OHIO HAII.HOAI) COllP.VNY. dated May 1. 1J, at not ejceedlm par and accrued lntcrett ti n prlnclpul amount eut!lclci.t to als-rb Thirty thoueind twenty three and K 1'J dol.ara 1130,023 1$) of the sliltlr.K fund. lender, miv be msde Monday, Mar J. lu. until : m Tiin rAii.u:its- loan and trust CO.MI'VVV, llv HtnvIN MAK.-TON. President. New York April 1. 1316 STORAf.K EGGS tin: GOOD BUY NlltV at 2.1c to 24c per dozen N will sell on li'J mi rein or ll.oo iHr eve tti nr lots nf i.rai cac up and e will n cll neat Tall and "Inter at prnluMy much higher prlciv., Full inrtlciilars nn request. II. K. STIU'T r4,MPANV tMinle-li Itr.eliers 817 sAiisl.liiiitiin st New York ELECTIONS AMI MKITTINGS. Acmct'i.iritAi. citiuiir company. Adjourned Spe Inl Mtclliik' of Mock-liilili-r. TO T1IK STOCK1IOU Kii OP AOltlCfl TCIt U ("ItKPIT COMrAt.T: Nctk-c is lin tn 8i.'i t' ai ,in aljourred special m-tlni of ,'ie etnctihnld'rs nf Asrlcul- tural Clcdll Cl Illli. Ill ll Ni-W Vorli ntrnnra. everal protests for j 'on will Im he I .it the pr i.c pa, office ol the rree ent, . uiliier piirarrapn ..v. irin nti . - , ,V, "- --,--"i.,ii . .nw re overruled I'uiy wa iaxe.ii . -n. ..., -. ,, ... ,.-e ,u uie an.r -S 10,-S V s 83'. . i3' THE PITTSBURG MARKET. 1'ITTSHVHC, April -Tho stock maritrt was fdily moderately adlie with the tone steady I'uro Oil adraneed ' I.o Holla Iron sained IS and Wcsttns-house Air HraUo a point. 'Il.o summary. Open Hlsb- leow. Clos- aiea hit et. e-t lnr its. Am nin ms .ncii, ki 70 Ciney ltlver fja .17 101 Columbia tlxs.... ir. ,11 lndrpl Hrwir. ... 3S 40 Indent Hrwr nf... it IhO I.a llclle 1 A 3.... M : Mlrs I, A II 4T4 no Nat rireprooiini: tn Nat 1-replr Pf . 37 13 IS is 17 17 70 Ohio Fuel Oil ... 17 17 71 Oklahoma 'Ins.... 70S ?S 10 l'lttsburr Hrutr... 6 6 hi Itttsnur Coal,... 73 23 inc. Pure Oil u; is; loi l'liirare 3.'.i . It, Hlvcrvl US KS ;0 H.-er,Trt pf 1,1 1600 Itoss Mlilinr 16 16 120 I' S Steel 6H ssv. nor, iv. -than AlrbraUe.13,1 I3i, (3) IVi -Ihse Klec ... . t-'-S (SS I10NDS 16000 Pitta Coal deb ts. !- SUB-TREASURY STATEMENT. MONDAY l'ald by Puh.Treasury to banks. Paid by banks to Pub-Treasury. Loss to banks on da'a trans actions , ... 2,:,00o RINCK KKIDAY I.AiiT. Paid hy Hub Treasury tn banks. 11,374, ono Paid bv bunks to .Sub-Treaaury. S, 060, 000 1oas to banks Loss to hanks stmt period pre. vloua week ,, of 13'. on these plants at tne rsie oi .5 per cen ad valorem under the first part of para graph 210 where "orchids" are epeclficatiy provided for. KAHTHIINWAIU: Flmnn Pros of Pin Francisco o,t beforo the Hoard of General Appraisers In ft c iln. for a lower rate of duty than that as,erse,1 by the Collector on i-.-ir'henware eyphon e!oets, which were pr.nted with the mmo and addroa of the Importer or consignee, nnd also the badito "Verlhest " Huty was assssat-d at tho rate of 40 per cent, ad valorem under para Kraph 7a of the tariff i-t ot 1913 se printed earthenware and eialm was made under the same p.iruffraph for duly st the rate of but 35 p" ent. ad a'orem At the l.eirtnrf ono Mtc tentlfled that the nurklnic on the earthenware was burnt In and not printed The b -..rd. In re ferrltiB to this testlmou wr ie. "From his testimony he was apparency spe.iklnc without any knowledge relative thereto" Oil. OF CASSIA. .VC Judite McClellxnd of the Hoard of I'nlted Mate. Oenerol Ap prntsers handed down two reappralsement derlelnns One decision covered the f.i' elcn market v.ilue of oil of caeela shipped here bv Mu Wo iin of II-mKkonR, China while the other Involved the foreign' mar ket value of aniseed ell i, hipped here by Frost - Cundlll of llonRkonu. As to the nil of oaseli the .leneral Appraiser write,. "Cxela oil 7jA0 per cent., Invoiced at 23 per pound. es N M charKrs. en tired at 1 32 Mex. -cr pound, plus packing, leappralsed it 2 per pound c I. f New York 1'A-klHK olid mattlnK Itic'tldel' This oil wis txported liecentber 2 is.6, and entered here on February is Hi In re ippralsln the mine of the anl-eed oil tn question, Judso McCle.la.il writes--Anlsep.l nil. Iniolced at 711'.. '-ss frt-l:ht. en.cied ut 1 60 Mex., plus I'-.u-kln,;, reippriteed at 2 II S per imund . I f New orli I'acklna tn-ludel ' Thu nl 1 w , . exoortet i.eceint-er 1. and enic-e,i , hero on February li. 1116 r.i;it.MA.S COCHIN OIL- Merchandise In voted aa '"Jd cask, of ile.-man co -Inn oil." I Imported In tha name of William A llronn , . V.n.i mill voovc-iri. iu ktr , .itunn , as ciicoaiHit oil, was the tuhject of a cus- Itoms controvrrsy ndlusted yeMerday bv the llnird uf United Sttes Oiniril Appraiatrs Duty waa leiled at the rate of three and one.half cints a pound, under paragraph l-ii.l larlff act of HHiO. Th. protectant l! limed tree entry tinner p.iniKrapn t a incoaiiut ell, not renncd r dr,,,i,rU ,1 In Histamine thl claim Judite Waits wrltiss "The evIdriHx lead, us to btllevv that the nuftdiuii Mivitiei It has l.cn rcnt-.od 1ft pends on the absence of free fatty acid and tho absence nf odor. On the part of the importers it appears tnai mere is eumcient free fatty acid to show that It Is not ruined. I and that also there is odor, which Is ad 1 milled hy all to be evidence thut It has not Ileun lenned On the part of the Govern ment we hae the testimony alone of the lluvernmrnt chemist thai he detected no odor. Wc uro of the opinion that the testl- nituiv of the l.nnorters nredominatea a. to 14,176,000 . the question of refinement. We, therefore. hold that the commodity In this isae had JsJIT.OOa not been refined, sustalnlnc tba protest.'-' f.o 37 r- IS Is 63 4f, 17 17 "US r, 24 S i'S s"J l-'S VI. 16 'Hi IS'. 8CS 6ul. S7 16 -'4 1 MS 41'. 7 17 17 70'i 24S 1. SM, l"S M 1.. noon, for the pu-po, oi ,iu-..- upon the prop ortion that said Company lo lortliwnth dis. rnivri in ac-nr x-ii-c w-'i- tie pronnions of J-ci-lton i21 of t'te t.en.r.i I trporation Law of tfo Mate ol N-w Vo I: to- the ratifying of all action Cikc-i or .uit'-o-.r- 1 and performed l'r the director., and ollnxn of said Company eince the ann.i il nu-ci .- tl -renf held In fh car IMS. an 1 for the tr mention ot eiich other tmlncfs as miy . -.ni, t-Iore said meetlnc, Dated, i incjeo ii 1 1 AirlUi I-n JAMKS F HOYCB. t-ecretarf. New- x- -t April lh, 191S. TT1E ANNFAI. vriTISV, OF T1IF. STOCK. MOLDKIt. OF Till' NBW YOKK ICTUAL C.A- I.It.HT COMl'NNV for the election ot Directors for the en. nine year will be held at the office of th. C mi'.iiiv No 142 Kaet tsth St. on Tuesdiy t! J-I. ,'ay of Mav 13U, at noon Transfer bonks close at 3 ' M on the 1st diy nf .May ' an reopen at 10 A., M. on the 10th day nf Mar is"! CKO W l'KKltritST Secretary 11YII)KNHS AMI ISTi:HET. THE AMERICAN EXCHANGE NATIONALBANK S-e At a meettnu of this Hsik. ' dividend of Fi ciplt.il atock w tiroxltno to - ki i Apn .0, lOls uio l oard of Hlreotors I - - -lav, a s nl annual I', r c-en- , 5c; i on ths d . ar. d p.n it, a May t of record at the close ot busini" April 24. in AltTHCH 1'. t.HK. Ca.-hler tsiSi t, ff,. isnt.oon S43.00O orrii'ii of Tin. CONSOI.II) TlllN Hill lllMl'AVY. Halil'i -r., Id vp-l Oth, lli, The Itii i Illi- t-i. I-,, deilared a quarterly -II I f -lie nnd one-liaif per cent OS's" Its Capital Stock, pitiable April 21'tll I,' t-- the l l.hoMers of re.-nrd a. Hit- -e nr Ii ,,'r. Vpill ,2nd, 1316 The transfer boc.'!. wi.i remain open. Dividend ch. :l;i will be i. -.Ie I T K Ml'AKT. Aselsmnt Treasursr, unt i:i i.iiv NimcKs. IlEOKIVIIlt ts IJJOl n.MUJ HALE. Il order if 'ho 1 ojrt. Hie Itecelvsr'e Sale of the I . en -e Iron Work stand aljourned tint i (-s urd-tv the 13th dsy el May. 1916, m II '' ck In the forenoon or. the premises hi t-'oretice. N J. At tint time will l-e .old the Plant, con ststlnc of It. Ileal Hstate, Hulldlnis, rtx tures, Machlnerj. Tools, F.aulpment, Ma. terlsla and fupplles, toeetrter with tha ether Hesi K, se In-ludtne 210 Owelllngs, Uutldlnc l-'-tt-. 1" A -res of Farmland, Also 3,001 tons nf Cast Iron Pips, 700 Hydrants, 100 tons of Fittings mid tOt Valves. Dated April 3. 1M. ll.VIIOI.I) H WKI.IJ1. BscelvsM. OASKIl.l. 4. tl AH KILL, tollclters. .