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14 THE SUN, SUNDAY, FEBRUARY 24, 1918. : -J100 Years of Commercial Banking THE Nation or the City of New York Capital & Surplus, $5,000,000 Resources, - $80,000,000 Chatttr Mtmhtr N.Y.ClearingHouse Member' Federal Ruerte Bank. Untied Slates Depository 149 Broadway (Singer Bldg.) Cor. Liberty St. Branch Greenwich and Warren -U. Bowery and Grand St. Ninth Avenue and 14th St. Broadway and 18th St. 2 West 33d Street 57th Street and Third Ave. Broadway and 61 at St. 86th St. and Lexington Ave. 'Broadway and 105th St. Lenox Avenue and 116th St. 67 West 125th St., nr. Lenox Av. Broadway and 144th St. We IntitcYcur Account -JUKI Motor Stocks and the . Motor Industry We are distributinc a book let containing a series of ana- , lytical articles on the inotor industry- w'tn a review of the more important conipuntci. Copy on request ' ! or Um.klei M- Memtors N. Y. Stock Kxcbancre. 42 Broadway. New York Teleph I .1)1 PIERCE ARROW Tie fosition oj this tompanj in no tor truck irJiuty is treated in Special Circular li 21 Sen'. o,i fftfiifi'. E.W. Wagner & Co. Members .Vru I'cr.'- Meet ii'xcAaija 33 New Street New York TIMBER next to steel, has pro duced the greatest wealth in America. It is to-day the second greatest in dustry in this country. The increasing demand upon our fast disappear ing forests makes the intelligent investment in timber the safest and most profitable. Call or write for our illustrated booklet on "TIMBER INVESTMENTS" Personal Interviews and Correspondence Incited. A. C. Frost & Company Incorporated. 30 East 42nd St. -Forty-second Street Bide-) Telephone Murray Hill 8594 III MMs OPI'OKTI'MIIKS. 1 W l.N'TY-flVi: IKU.I, Arts with Pnncr cn'ar tt'i 1 NUKiiwp.rnum rntiar cu, Ub 111., . J. dii I '.ail. RAILWAY EQUIPMENI BONDS. (Qiiote.1 on 1 p. nvntfii- Ui!v) Jlalurin Kntp. lIlil.A.tcl, BaMlhin. e !i Olito. rtiR ii i c.no 5 .',0 5XiO Tin rr. itii.ii ft I'm. 1111 :n fausdlan la-!lli- ISls li oai e.il.e & O'.iu ltU :7 t.MidKii 4 N W ..l'Jl.;.! :ik:h. It I ft isi-s; :iiu. m 1, & n o . ists-ri C C 0 M 1. l'-H- l'x'Uw.il'n i 1 1 lid -on Krle lijlliciail . li!S :7 llnon Central . ..1911 M liouikvlllu ti NnHn . mis :.l 7ticlll3llll (-'ciili.il . 1HIS-S' .110. Kan K Trx . . It VI Mlktourt I'oilii' . HIS-M Mobile Ohio. . IVi.y, ' Vurl. Central. nrlolli ft Vt'(..teril..lSl!l Y N II 4 II .... in.;i tvnn tSen Vreicirt. . iils n SalKwrd Air Line ISHM Siiutliriu l,i.'lllu .. IWH bouthern ltuilu u . 11H'.'I t.iij e.ii C.71 7. CO S.I'O I..M .m 5.M 5. M 6. W 7. 'rt 7,() U.C) ;.:", i.lZ 7M i:.(o c 00 c.so 5.35 tl4 CO 6.W D.(0 6.0) !M ti."S 0.59 e.r.ii c.r. t IM C.l lii t,.m 5.0(1 tco r..to 6.5') 4'i 4li.5 l,--, 4i,.i 1'i ;-4i r. 4'j 4'.-5 SUGAR STOCKS. Hid. A.k' 11,. 1 A.I,-. 107 f,7 it w 7l W.i I'D 110 13 i; til'! Am rfnl Am Manull ,. ,: .M.HHII pi... f Mt..m . ,. s 'Mat -Am jj Mlihlgau . 74 N at tonal !-3 N N'huiero. 17J wanur iki itant.i CecilJs 15 'H Cecilia pf, 45 tit n) 1 Apnlrre. .1', iti 157 . a.r. o . :oi IV1l51.il U Fulerat lit il t Wnt .' it vt'wi tit riii.ntaiianio a Juno Cvut ,1U m ww FINANCIAL NEWS AND COMMENT Hay s Year Price Movements Irregular, With General Trend Down ward In Stock Exchange. Closing. Did. Ask. 13 2 9 26 801 40H 13 31 H 69 42 54 32 Vi 65 4S - 83?; 92 6oM 89 107 107 165 92 544 3H 25U 03 4 81 14 81H 114 73 62!, I 101U 79S 41 24 H 1174 ni 194 117 70 3i; 89 M Gli IV 42 BAILS HOLD FAIRLY WELL Bank Statement Shows Gains in Surplus Reserves of $28,531,080. 93 66 89 T4 107K 107 166 101 Prleo movement In the two hour ses sion tn the Stock Kxchange yesterday were Irregular, with the general trend downward, but trading was quiet and as a rule tho declines were not of much consequence. Although a fairly strong undertone developed at the opening, un der which substantial advances occurred throughout the list, tho market ran Into further realising and selling pressure be fore tho end of the first hour, and prices reacted sharply. In the last few minutes a feeblo rally set In, but there was not sufficient recuperative power In back of tho market to cause n full recovery of prices from the low levels touched earlier In the session. The result was a very Irregular l!et at the closing, the. rails holding fairly well gains sustained under the lmpulre of the passage of the rail road bllt by the Senate, and the more ac tive Industrial Issues generally showing fractional .losses from Thursday's clos ing. Although trattPPt founit"tiji.tli:iriitl reasons for depresrlng prices In the news that camn from Itussla, during the ses sion, developments over the holiday were generally In tho nature of constructive factors to the market. The passage of tho railroad bill by tho Senate marked the first step In clearing away the un settlement which has hung over the rail way shares and found ready reflection at the opening In advances In this depatt ment of from n half to as much as two points, the extreme advance being In the case of Union l'aclllc. At tho same time the passing of the measure by the Hen ate now clears the way for early action on the War rinanre Corporation bill, which Is looked upon by the speculative element an a very constructive factor to stock market prices. The railroad bill, of course, ne-'ds tho approval of the House, but the fait that no trouble Is ex pected in tills connection Ls placing the rails In n more favorable light. For the reason that developments in Washington over the holiday had im proved se:it!iin-nt, the pressure directed against the market at certain periods of th session did not appear Important. Tho reason that It wax allowed to de velop at all was due tn the quietness of the trading and to Hie fact that the most 64 85 82 4 115H 73 H 53 1H 101 80 41 i 24 ?i US 10 20 U 149 704, 31H 90V4I 544 1 S I 124l 73 205i; 53 16V4 43?t 39 31 80 33 ; 94 63 , 32 I SI 83' 7 no?;uil 9' 314 3S" 39 ... s: s.; ... IS-1,! 13 .. 25?4 25 35 33 36 110i 125 90 I 28 40 "4 ! 46 Uj 30 99 1:1 99 representative element of the speculative fraternity was absent from the session, a situation which cave the bears an ex cellent opportunity to raid the market. The most Important pressure to di rected against Sim site! and copper shales and some of the sp.-clalties. The rails held well In face of the opposll'on. but the equipment", including lialdwln, gave way. The movement in lialdwln was particularly pronounced in the last few minutes, when It broke to 7.1 accom panying rumors that the annual report would make a very unfavorable showing. The merger of General Motors and Chev rolet was depressing to the former. To bacco and Bugar shaies were strong. Tho bank statement showed a gain in surplus reserve, of J28,531,(iR0, despite a W2.0OO.O0O Increase i'i ordinary loans. The improvement in tne reserve position iVbb mad- poalb! by the fact that the banks gained from the Federal Ilerve Hank $21, 110,000 In cash, ami at the same. t,mo reported a decrease n de mand deposits of $28,8:1.000. Further 27Tii 29 i 42 42 46 33 77, 10 I 67 IS 100 '120 6 63 2SU 23 " 51 93 i, 92 31 45 44 7 22 49 154 50 H 52 IOOS41IOI , 19, 19i 135l36 I 7141 72 ; more, (lovernment deposits with tho in dividual banks showed an Increase of t7P.00O.0u0. This Item now stand at 3G. 923,000, as compared with J3,'.9, 47SJ00 a week ago. 28 I 19 46 S5i S9i MONEY AND EXCHANGE. 85 45 H00 I 45 il 48 i' 26 CAM, RATES. . . . :r.a : ... SllteiiewaU 4 ;Year'a low ; !tl:h lxw Year's 45S; 25 39 s! 53' hull TI.MK JXlAXS. All lnUttatt Mlird I.oni rcr .ent. . lr cnt. 26 Vi 27 f.l ' t.2 116 117 52' 53 21 1 24 Sixty darn SIxty dar .. Nlrly ! 4 Ninety iljjrn Four month! 4lKonr mouthi Five month. CjFivn nioniln. i.x monltit CSlx month. . COMMKHCI.Ui PAPER. Prime Ir.iloned Bills ISix monthi . 4 am 76 5i 7S 7.1 12 it S?i 150 r.; 86 234 ,iN' urn Ke(elvable. I othpr 'imi Suty day 6";x!Thrro to tlx Ninety dayi iUSJ.l monthn 6H34 ACCKPTAKCES. 90 dayi. 6) days. ,. , , Bid. Aik. Bid. Aik, Elitiule member .v dj. Bid. Alk. liinW. 4',i 4 Ellrlble 11 o n member bank", 4', Ir.Mliible bank, bill r, 4'i ci.karim; norsK 4'i SV S 41. 4A 4'i : 4'3 : STATEMENT. 36 17V Clearin? Jloute cxrtntijc. tU.'.33M: bal. atKT. VH.If'O.Oll; (iib-Titsa;iry debit fcslan.e. ir.:i:; Keileral rea;Me uril't balance :. "14,sfJ. 0Mi:Tit; i:xc:iangi: liotlnn. par: t'hlcaio. no marlt , ',!. r.nidr, 10c iiU'uiiiit bid. Pi" sikfl: sati Viandxii, ia. : Montreal, tt'.53TJ to :;,53 inemluni; Cin uiuutl. ur; Minii"i;,ollF, l"c. iinnitum. SII,VE:t lT.ICIJS. liar slur in New York. Jt' , imchsnrej : London J".1.. uiKlunacd: Mpiiti.11 dollar.. El(., uncliane,!. 152?,15J 55 55 S7,; 42 121 121 33 I 39 95 A I 96 129 '129't 5' 12 1 I , 121 122 57 ' 57 46 j 46, 95 95 S2 S3 41 41 102 10S ; 65 I 67 lOltKltiN EXCHANGE. l"rev. e(Mr. 4I.7JA 4,7,'. lrey. cloi. Steilim penianil . Cable. ... Februaiy. Fran-. lietniinl. . liable, .. Kcbruaiy. Rnblra Pemaiul .. Cabin, llls.i. H70, 1173', 76,V ;a ; 19:7 l.n-v. !..f.'S . 1I.T0U 4 71,', 4.; 7,a.t. r. 7:h '..in-, Jlisb. 6.51-j r. tob i 7?4 J0.7I S 42' 1.-.; 51 10 I 18: si ; 39 89 62 ! C 7D, r : in?. . S.aC'iTiI, ITev. l.a.l, loae. H'.'.-, IS.::. l-i .W llizh, l.OM. ts.:r. n.io 1! 1.1 1-..M VISAU KATES Normal Yerterday' rates Hemand olvxcb. or t'herk. (,U.'l rani C.72i I.ISM Paria C.72A China llnnikanr 7I.M Sh.mjhni . . . . 1WDJ ISM", fJiewe fjtii J. in Holland IP, 4v.lt Indu CUUtt.l JIM 5.1SJ1 Italy 4 71 4'J.II Japnii Yokohama f.'l CI.M Tluiala ISM JC.79 beandinatla .sttichholm S.'l Cnnpnhoie.j , . .. 31. f, Chriitlar.la sn.t,-, 19.IDJ pjln ill.:; inuth Atnerlc JJ.40 Itlu :jc 1 1m.1t Aitc.ittn (,IJ). l.ODt.7 54(1 Ilneno. Ayrta 4175 5HS3 Switzerland 4.t;'4 Cablet 6 70S 71 15 J07.0) 34 00 tM f,li IJ.Ui S.VO jt.s.-. aO,75 SI.57 7111 1.W43 43. ac 4.43 TIM 11 IHLLi ON LONDON. Uanlua Commercial. (0 dan 0 daya. ... 1.71', C. daya, j) daya 4. 1.70 I 6l!i CHEMICAL STOCKS. lid. Am Cyan . Am C) an pf t A Hylloj ;.,. l:t Ca.eln Co.. Day Cliem ..'.) low Cheni ., ,. now :u pf . ('3 F.le.i Hlra.il Ho Peil Chun Ke,l Cl! pf M Free Tex kw S' (iraaaelll ... 173 Hooker Kite. All!.' Did Ark. 14 I".j i 10 ti Fl It.IIooii P.leo pf, m I 1.. Ct. ... ...A iv Foliav U'l'MiTrlmac ... I.' Million! Co. t'-S Mutual C... :3vr;is, aiu pf M P.llll Silt :.viiiiiiiin fit W Itol Cli pf 1' I Smirt Sol . 5 IM 17 7J W !.' 7'i 1') no 4:1 Smith Ac Ch.lK ;o soiv pi oc ,.,:ti) W8tnd Ch ,,,, to NEW YORK STOCK EXCHANGE PRICES. Saturday, February 23, 1918. 191. 1917. 1316. sale 341.240 142,700 271.100 to date 22,223,310 29,220,300 25,983,200 Annual dividend rates are quoted In dollar. I Open- litifr: el. Rt. Sales. inc. 14 2U 2Vi 26H 81 40 -t 71 32 M 60 42H 64 324 65 U 49 100 Advance Itumely 400 Alaska Oold Mines 10400 Alaska Juneau O M 1910 Allls-Chalmern Mfg 4200 Am Beet Sugar 3700 Am Can 1900 Am Car A Foundry 200 Am Cotton Oil 200 Am Hide & Leather pf... 100 Am Ice pf 2800 Am International Corp.. 400 Am Unseed Co 3S00 Am Locomotive 100 Am Malting 1 pf 4500 Am Smelt A Itef 200 Am Kmelt Sec A 100 Am Steel Foundry 9000 Am Sumatra Tobacco . . , 300 Am Sugar Kef 800 Am Tel & Tel , 200 Am Tobacco , 100 Am Tobacco pf new 300 Am Woolen 100 Am Woolen pf 100 Am Writing I'aper pf. .. , 6900IAnnconda Copper 400 Atch. Ton ft Santa Ke.. . 13 2 2 26 78 41 74 31 59 42 55 82 65 50 13 2 2 27 81 41 74 314 69 42 55 82 65 50 84 92 65 90 107 1074 165 99 55 94 26 64 4 4 5 5 3.C0 1 6 83H 84 92 65 88 i 107 1074 165 99 54 94 64T4 94 14 26 64 8u 82 117 85 100 Atch, Top A Hanta Vo pf. 82 117 47ov ah, otiir & w i s s. 31200 Baldwin Locomotive Wits 79 1 101 80 41-4 1900 Baltimore A Ohio 100 Hatopllas Mining 200 Bethlehem Steel pf ctfa.. 9900 Bethlehem Steel B llOO Brooklyn ltapld Transit.. 300! Booth Fisheries 500 Utirna Bros llOOIButte Coprer & Zinc 200'Unttc & Superior Copper. 2100Canadlan Pacific 3000 Central Lentlier 100 Cerro do Tosco 200 Chandler Motor 3800!Chesapenke & Ohio lOOlChlcago Gt Western 3800 Chlc.-MIl & St Paul 1200 Chic, Mil ft Ht Paul pf.... 700 Chic, Itock Isl & Pac 100 Clilo, It I ft P 6 p c pf , . . 300 Chile Copper 400 Chlno Copper 03 1 101 80 42 25 25 lll?4 9H 1 ft a. ! 10 o! i! 4. 146 704 31 904 54 i 7H 42 72 20 584 164 43 40 34 92 34 94 (, 65 33 148 31 90 207., 13 -U ll4 43 40 34 94 33 ! 95 & i 300 Col Fuel & 1 200 Columbia G & K. . 100 font Can 2000 Corn Products ... 100 Corn Products pf . 635, 8000 Crucible Steel Co , 2900 Cuba Cane Sugar 100 Cuba Cane Sugar pf. 1 65 33 81 324 .- 81 lOOlDel & Hudson 100 Den A Itio Or 2700 Distillers Secur Corp... 200!Domo Mines 1700 'Brio 400 Erio 1 pf 100 Federal MAS pf 111 111 5 5 9'.!. 39 S4 15; 26 35' 36U' 36 a; 140t 126 15 91 29 ; 41, 32 ! 461i 3t 4 700 (inston W & W 8 900! Ceil Hire Co 12. 7600 (Jen Motor Corp 4 flOO Cloodrich. B F 7 200 (it Nor pf 1 200 (lt Nor Ore ctfs 140 12S .128 125 45 15 ' 42 91 91 , 91 28' 2S 2S 41! 41 Va 41 28 '28 ' 2S 47 '47 I 46 31 Vi 314 30S 8 lOOlOrcone Cananen.. 100 (lulf. Mol) & North pf. .. 1600 Inspiration Con t'op.... 32300 Int Mcr Marine 19000 InterMer Mnritie iif.... 1300' Int Nickel 1000 Int Paper 300 Interboro Con pf 1001 Kelly SpritiKtlelrt T 1100 Kennecott Copper 200 Lack Steel Co 100Lrtl;e Krle & Vct 200 Lettish Valley 100 Louse Wiles Ills 30 Lorlllard. V, pf 100 Mnckay Cos pf 600 Maxwell Motor 100 MnNWdl Motor 2 pf.... lOO Mays Dept Mores 9000.MexIcnn IVt 300 Mexican Tet pf 200'Mlnntl Copper 1000'MIdvaIe Steel & Ord.... 100 Mo. Kan & Tex 100 101 2S. 28 31 31 28 30 424 43 45 22.. ' 77i 10 ' 58 18 jlOt 3. 78 10l 5S 194 I 62, , 29 1 , 23 ' 51 7, , ' 94 J 95 I 31 I 45! I 4 I 8 ' 23 Vi ; 50 ' 15741 49 29 23 54 94 97 ' 31 45 5 I 8 23 50 IS ' 50' 53 I loOlMo, Kan & Tex pf ' 1700tMlourl l'aclllc 1 300 Missouri I'ltcltlc pf I 200).Vat Conduit & Cable.... SuOOj.Vat Ilnam & Stamp SOOINnt Lead Co ' 100. Nat Lend Co pf ' 200iNevada Con Copper ! fiOO N Y Air Brake 53 55 '100'O0 ! 19l 191, 20 toti 2 i 71 5 1900 N Y Central ' lOOlN Y, N H & II J 2. SOOiXY. O&W I 6 1 lOOINoAmerCo i 7' COO'No l'acldc 1 5' 2300 Ohio Cities Oas "I 200 Tan Am l'et pf 3' 400 1'eim K 11 200 Peoples !as. ChIcai;o.... i 200 Phlla Co OOOipierc? Arrow Motor .' 1000 Pilts Coal uf Pa .-.OOiPrttH & V Vn 7 600 Pteised Ktoel Car . 500iPullm.tn 4.'o 5 700'P.ailwt.y Steel Sprlns .... 4 600' P.ay Con Copper 29 20 50 85 40 2 20 I 46 I 8534 40 ; 45 45 25 40 52 27 61 7i 40 53V1 116 52 4Vi 77 1 4' S300'lleadltiK l'.l 6 lSOO'Ilepubllo Iron & Ptcer. ... 75'3.15i 400'lloyal Dutch Co 124' ..I 400 St LouLs & San Francisco 11 I ..' 300 1 Saxon Motor 8 ..' 200Seaboard Air Line 152 & 200 Sears-Koebuck Co 33 5 3400lSlnclalr Oil & Itef St5i 6 700lSouthent l'aclllc 24 .. 1300'Southern Hallway Co .. .. 59 5' lOOiSouthertt Hallway Co pf.. 7S- 73 12 10 8 150 35 86 Vi 24 58 'i' 4 2S0U Stiulebaker Con 52 I 52 37 17 200iBuperlor Steel 2700'Tenn Copper & Cliem.... 1200 Texas Co 2600 Tobacco Products 200'Tranr.tie & W'm 370 t'nlnn Pacllli' lOuit'nltfil Alloy Steel 900 l.'nited ciBar Stored 200'1'nltnl Fruit Co 200 i;ntted lly Inv 300 I 'nlted lty Inv pf 1100'lJ S 1 Alcohol 200 U H P.ubbtr 100 r S Smelt, It & M 57tO0fU S Steel 1400 1'tah Copper 36 I 16?t 17 154Vi155 ' f6! 56 10 40 10 .121 121. 120-V 3S, 3S7,, 38' 1 957, ;,.-,?! isi4 129 '129''129 ' 5 ' 5 Vi ! 5 12; 12 12 1214 121 121 ' 57 I 57 57 Vi , 46 46! 46 66 96 I 95 83 ' S3 J Sl'?4 ' 41I 41, 41 '102'102 102 1C anOiVa-C'nro Clu-m 100 100 200 800 200 100 200 100 4600! 200 400 100 Va-Caro Chrmlinl pf va Iron, Coal & Cone.... Wabash Wabash pf A ; Western Maryland Western l'aclllc pf I W.-sitlngliouM K SI....1 WheelitiK & Lako Eric,.. Wlllyn-Over!nnct 1 WHhon & Co WorthlnRton Pump 65 S7, 4291 Hi 51-H 41 10 19 55 10 90 63 Si 42; 54 .41 6 3; ;iu, if 53 38 88 62 WorthlnKton Pump pf A. lOO'Worthlngton 1'ump pf 11. Odd lots. Note Odd lot transactions are not recorded tn separate lino unless niilfB were ttiude at prices outside, of the regular full lot range. DAILY TREASURY STATEMENT. ,(!cni( Desfilch to Tmic SrN. I". II. Croeigrtlc fnrmily vice. prei!, lent anil general manacer of til" Utah Power Light Company, has been elected vice. pralUent of the USi'Ctrlu Hand Share Com pany, Ilnlliray Invealora Leaguo lin, lasiied a re;oit to members coverlne ll actlvltle. In the ear and a half wnlch liaa elapsed snt-4 It orttanlaatlon. Dlrectnra of tha Adama llxpreas Com pany, at a meeting on Thursday, consid ered the divide ml. but tool; no action, Tlio Columbia Truat Company will pay oin. annual Intereat nf 1 per cent, on the Atlanta, Ulrmlntham and Atlantic hallway 3 per cent. Income mnrta-age. bonda on March 1, which payment cover tho period from July 1 to December 31 luM. Matthew If, Council, formerly connected with tho bond department of llornlilownr A Weekx, haa opened an office ut 111 llroadnay, .1, Kranti Howell haa littied a epecl.il lettar on Central leather, belnii one of un alplinbetlcal atrka xovrrlng tha li.duatrlal atnehf. WASHlNtiltlN, 1VI. U.Slateroent of le. eeipta anil dltiurci(ifuts ul the Treasury l'h"",' Thla tnontli. I'I.eal year. Ilrrrltita MM.ait.'.Il lP,175,7W.r.5) lil.liuHeoiiiita. . . W.i.4te,l) lo.stii.s.o.oco Sutplua tSS.7A4.013 Def. IWO.773.410 Tlie euatoim lei-lpfi. 7OT.042 : Intenul ren-inie, ordinary, ll.ilil.Sjl: tnvainv tat, it'll. elO: lnlicellanmua, 13)7,753; ralloiul bank nolei rerelrail for ri'.tei:ipti,i, l'4!,Sl!t. 1 Iif uirrint .tatciiient of tlie lultcil btatu Treat- uier for 1'f'jruarr II: (iKNKUAI, 1UN1. ArallaMe aol.l 'isi'i.? ArallaWe .llrer Villte.1 Stat.a Hole. 14,3J1,M1 National bank and 1 eilcral lie- ,,,.,, nerTe nnlen 4,4io.;7 Ceitlfled rUk 411 ballk M.HJ Siin.Mlary allver, inliior coin and liver bullion f: MMt linclaol.lo.l (unkfirtr.il rurri-tirv . ,si,4Su J)euolt In l.arka nl Ptitlllt'in Treaaury IM,Ml,Ma Arallablo rnitvacy In Timitry au! Iiankt .... . l.leW.w.ra: rlui't cuitent llablhtiea. , l67,K.'ii,S7 Net baliino In acinial fund . , tJ7,7l5,WtS itKst'.itvi: ri'Mi, OoU coin and InilHmi . . . tlj:j79,0i; TRUST PltXH. I The PI Loula i.oinpany nai u,rn sraniea nuiuoruy li la, nc (I.li'O.OOO In bonda to cover expi-nJI. tuiea foe coulpment, Thnmaa M, McKaa It Co, will imoe their branch offlca from 103 Fifth avenn to SOS Fifth avtnue vn March 1, 27A I To redeem nutatandluK rertlileatea,.tl,4M.ei;,371 lOOluraiid tvtal taab aitela In Trraiuiy :,li7o,Kl),eW Day's sales Year to date United Uw. i.J 13 2 2 26 79 40 72 314 69 42 64 - 82 64 60 83 02 65 85 107 107 165 99 64 91 26 63 85 Ctot inr. -Hit" Chtnie. 1000. . , . 9 13 2 2 4 1 U , ; 1 6 1 1 1 U M3000... 9 7. Ml rsxtbmyM 4 30OO.. ..Q8.M 13000.. ,.H 7.00 4r.O00. . . . O 7 .! 4R0OT. , . . H O IOOOO. . , . 0 7 .M 80000. . . . 9 U .M 26 81 40 73 314 59 42 64 32 65 60 83 92 65 90 107 107 165 99 54 94 26 63 T 35 82 i;sUbertrltl. 10O0O.. ..Hfl.W 3000.. ., B7.1J 17009.. ..no.M 4000..., O 7. SO COOO. ..00. AmForn Src M.N Y Stats 4is jisiu y 013 1000 OUV AniloFrtnchtt 1000.. .103 NTCIty 4',p 00 1(5000., ,001s Aooo 00 30000.. BOO., 1000,. ,.0C4 . 0014 ,.onis NYCIty 44 1M7 3000 a 7I AmTA T ell Ml 3000 04)3 1000 0 414I 1000 941si Am TATdl 4 1000 813 fiOOO. , ,oou eoon ooig looooo. ,.oo WW 0 0s 100000.... 00 rreecbRepsUs 11000.... 0714 1IMXS) ...0 71 J 4000 H Armour 4Ws ty or uor deanx 44 MWO. ...sorH 1000.... 8. Ma S0OO Rflli .1000 ....Btl 10OO ....HHIi AT.tRKiMl 4 llty of Paris ts.ioooo saij .1000 . HI) AT A. IK ad) 4 1000 8OI4 United Klnt-itm , Ui llllnev 14000 0 0 Ha lilt KOOO 0 7g 14000 971a IOOOO 07.1s 20000 0 71a 4000.... 07S8 2000 0 712 H4 1831 2000 0 414 UOiH) 0 4 6000 0 41s Unite J King In 00O ...00 S0OO 087 UomCmnaila d till 2000 ....051a 1KH COOO. .. 03 aiampej 1000 7 0 All A Chart tl 1000 ... 0 4 At C Una r1t4i 1000.... 72h It A O 54 111 2000 8 1 Held Stt Mr S.I 1000... 80 Cvri leather Si 1000.... 0 7 114 115 1 4 79 73 73 62 62 74 j. 1 1 101 101 8 794 107. 1 41 44 1 244 113'4 1174 117 10 9 10 CAOnn tl; 4000.... 71) 10OO.... 7 018 Chva. 04144 3000. .74 194 19 194 145 14 i 70 1 70 1 2 31 I 31' t! A O cv 90 4 644 90 4 SOOO. .. 7f)rH 65 7H 42 2000.. 7 I COOO... 7 1 514 HI 7 41 72 201 634 16 43, 40 34 . 92 33 C BAQ Joint 42 72 SOOO. . Olllg! 72 4 20 C3i 164 43 40 34 1 20 "'t 53 4 16 43 40 I 34,' 92' 33: tM Libert 7 iH 16O00....98.M 2S:iOOO...BH.OO 20OO....t7.M'100O0..,.nfl.4 1000.. ..07.39 10000.. ..DO. SI Feb. :i. I'eb.SI. U. S. Oovt Bon.!. ni'l.AnW J. lllil.Altd. 2. retlatered ?7' 51 !7'j M !l. coupon 3a, rejIatruU tl tn'i l! t ft, eonpr.n !i t'". W'i rritl.tered. 1M4 . . .. W k) Ta, coiipon. 1M4 S) .. M 4i, rralsterei! IOC, 1 m , lni'i ta, eottmin IM'i HO Dl1, 104 f, Panama, rivl.tfrfl... bi'', f4J Si, Panama, cmiiiun ! t f. 3, Panama, ri'tutrred. r) SO Ca, Panama, t.ni!on. 11 92 34 944 94 , 94 "4 63 63 1 ' 2 -?, 81 I 111 5 3S S4 15 25 35 32"i 81 . Ill 6, 38 15 8?4 15 26 Claalnc prkr. o! at' v.etr no iidt.aacttcni Vi 3 4 1 Pi. I Ai'rd. 35 35' 35 37 1 36 ' 3611' Adam F.xn ' 7J Car 35 Ailvan It l( .'ti'j Al Cli M i( t ) r-i a t' St'i .'. P, ll 17". SlTij t40,140 i40Vi 125 Am A ;nm do ft s:'-i 42 91 28, 41 2S 46 31 99 28 Vi 30 424 45 33 77 ' 10 57'"i4 18 101 62, 28 23 Vi 51 94 95 31 45 4 V 2?; 50 I 15?4 Am Iili Nte 30', do pf 41, AnlBSur ft 12 Am l)k Sb. .. do tit... .li.3 Am Can pt !'3 Am C K p( 10t Amt-ltle.'t'l 99 Am coal... Am Kxi.. Am 11 & I, Am lee.... it 7) 13 u'i . ft 28 30 42"-, 45 32 ilo Pf . ClC&Ml. . .1,1 pf . Clev i I'ltt Clllflt Pby 43 45 1 33 Am I.ln pf 71 j.; Am li.' pf 131 K'. Am .Mill 1) Am Slil.-i An j.t. AmSmlt pf Im1. Am Miuff do pf. ii Am Snr p.' 1'.' ASumTb pf. !!'; Am T.l ii C. Am Zini1 . r di iif i Am Iy i. ill l.'i do Ut pf ', ,in -.1 nf r... Col 1 -it 1 n'l 10 ' 10 5S Vi ! 57 "14 ' 18 1S 101 1101 62' 62 Vi t P"i 14 1 Comn Cim lit '.h r.l 14 f. 29 28 23 51 94 95 31 45 4 S 23 61-4 93 95 31 45 4'i v; t- 1 4- 1 do pf .. M "i , it I. A w t;; f.) lerc of V.1 fa 1 lenRll pf S !Aneta 11. K Ao" Oil .. C5'i ai Hi a. a t I At Coa.t 1.. ft let Kitlaoo.104 I lift Knttf.!. .. Dill 9 S & A 2 I do pf .. .", I Kle- Mor . r r.lkhorn Y :3 ' do pf j Erw :d pf . , Kne A Pitt .. I Fed M A 12 AGWI pf. (A Baldw I. pf K Halt &. O pf .VV-i llarrett do pf.. ..l'ii. Belli Steel. M do fe pf Bkn I' 17 a. i Brown Ph. f do jif w llrun.wii-U. 7 Hurt It lc ' CJ do pf j Bnrnill pf !('" Hll.ll Term. . Kutteriek... 10'i C.il Patk... ."., Cat Pet..... n;i, rfo pf ... C.il A- An 1,7 Can Sou 03 If! tl 23 50 I l'."i' 60 .4 50 1- -4- 154 49 Vi 52 I 50 1 2 1 ; 100 100 , 19 19 133 136 f.l 10: I Viher ll.lv. 1'1 Ceil Clim 17 i 107 ' 111 17 5." 1 3'i P.. 47 ' 7.1 I ! 29 20 46 857, 40 95 45 46 29 20 46 85 40 95 45 46 ' 46 i !.'' .in-, 95 45 45 4. -'I 40i 25 -'a 39i 53 27! 60' DIVIDENDS. I 52 K I 27l 27.' Stock of Becorit. A Iiitl. i'.iit Line Ci cf Conn . i, 11 :e Mar 1 nrltieli-Ani Tobacco (In terlm), J!rKltiey.)urroall-Sa Jse Mine., n. S''. Mar. 15 Mlelilgan Copper X Itrn.a C r-H. S.ltiO Mar. 13 Svlft t Co., ii, II Mar. 3 617,: 0 116 111! 116 52 ' 33 24; 70 I 7S 12! 10' S' 1 !1 I 78. 74 12 10 8 150 35 86 21 5RU 73 12 10 United l'apertioar.I Co , pr, 0, lli'i Montreal Cotton. Ltd., lis Montreal Cotton, Ltd, .f q, l.''r Stewart-Warner SpeeUnme ur Co , Q. 1 ',:. 8 150 150 35 3 I "a 86 86j - 23V 24 -r Va 5S! 58 .. 51 I 51,' asi:. . sitii' i- EX DIVIDEND 30Tj - ''; 16 17. 152 '152T, 1 Momla Peilerat Ming A Smt.t pf TueaJay Am Smelt A- Itef Delaware .t lluil.on lleaillliK Co 1ft pf Ilea. linn Co, pf ThnrH.lay American Con' I Allegheny American llxprea? Atla. PoK.l-r Atlaa l'ow.l.r extra II,, moil & All, -.n It. It CallfornlH Pipkins Co 'Camlirl.l Heel Co I'.unbrl.i Stcl Co cxu.1 Col.ira.lo l'owor pf Creadon CoiihoI 7.1 M Iitamon.l Match lTaatmau Koilal: Ka.tinan !.iduk extra 10 40 121 3H7, 5 12' 5 12l 121 57, 46?4, 95 83 j 41 102i 65 8 .I'ja. i 1 1 1 1U i; 6.i 65 S 42, 16 8 42 16 54 41 9 18H 53 38 88 62 Kastman KoUnl; if Hrlfl A. Piltaburg it. It Oalena Slsnnl nil (lalena Hlnnal fill pf "- 74 . 16 r.i 444i S! 54 41 0 19 53 40 88 62 Crent North Ore Independent llrewlnir National llnnm 4- Stamp Norfolk & Weatern lty San Jnauuln l.t & Pov.' pf Kai'asi. Anna Corp i 2 18 63 40 88 62 flavnae Arm Corp lat Savait Anna i.-nrn :u pr Southern Pacific Co Took" llroa pf United Cigar Stores pf MISCELLANEOUS FINANCIAL NOTES. American (irapho.. . American rirapho pf American Typefoiinder Atlai Portland Cenint Barnhart Proa A- S JH pf. . . Parnhart llroa & S Id pf lluah Terminal pf Bor.len'a ronrtcnaed Mill;,... llorden'a Condeuteil .Milk pf. Celluloid Chll.li ne.taur.int Chllda Iteitouiant pf Crocker Wheeler Crocker Wheeler pf llel, Lack At West Coal... Oeiier.il Halting Ci (leneral lliklni; Cm nf Hockln Va'ley Pmd.i.'ts. . . tnirnatiiiMl silver pf Mlrhlmn Lline.tune Michigan l.lll.eaiajie pf. . . National C.iaket New .lerney Zinc, li"w t." I. OtN L'levuto- Plielpi. Po ll') .'I- Co Pratt & Whlt-ev pf Hemtngtnn Tiiewrlu-i . Henilngtim TMiewrlter '.'.I pf lloml llaklnc Ponder pf... Safety Car Heat A- Light... Singer Mnntifii luring . - fVan Pranclijo Itnllroud Ilullilny In Sumc .llnrkcla. Holiday In cotton, coffee, sugar, cot tonseed oil and metals. BONDS IN NEW YORK STOCK EXCHANGE. Saturday, February 23, 1918. 1918. .. $2,973,000 .. 170,348,000 Government 1917. $1,570,000 174,820,000 1916. $1,660,000 165,007.000 State Bonds. MOO. 0 0.) .30000.. OO.I4I1SOO0O... OO.70 oo.m 20000.. . .oe.n OO.tl IOOOO.,., OO.M .1)0.71, 300O0.. ..OO.M 0 0.14 2000.. ..OO.M ,00.70 12000.., .00.14 .0 0.74 IOOOO.... 00. SJ ,,00.73 10O0O.. ..OO.M .oo.rojtl R is rex .00.73 6000 07U liioon.,,.oo.ri 10O00. 6000.. 31000.. IOOOO.. 15000,. 49000.. 8000.. SOOOO.. 10000.. 7.25. 3IIOOO. . . . IMI.SO toro.. .nn.io 10000.. ..UO.lt 170D0....U0.M 3000.... 0 0. li IIS 000.. ..OO.M 31000.. ..OO.M 30000.,.. OO.M 4000.. ..OO.M 7000.. .IMl.il 1000. OU.7D 74000..., on. 70 3000 ...t(.7 30000, .1)0.71 .oo.m .OO.T4 I0MX M, 20000. Railroad, Industrial, Foreign Government and Other Bonds. 1000 nn icxx) o:iu 1000 9:1 as irwin ii:it. DenABOrtf Is. Mont I'rrr M 1 BouthPse 2000 40 foot) 00 i:tooo 7H Kris cv 4s ter A NO Tex A M ill S000.....78lg C0OO 44lj'l5O00 40 10000 78 Kris cv UMrl) NY Cen deb Booth Pac cv la 7000 90 Aooo 0314 2000 niij ituj a 11 rdi 1000 11 nag 10000 oiig (BetleiA 1000 OUI4 030 0 134 11000 0 07s 2000 031 SouthBy m u HuttAManadJ 3O00 031 16000 6 Pi 23000 10 NY Kys adj ta IOOOO O 1 14 1000 1 B7g 2000 1 8I4 "000 0 I 10000..., 10 2000 HU 30000 OOlj 1000 1 0 NortnernTaeU Texas Co rr St 111 Cen rf 1 M1 COOO 00 I 1000 OOlj 25000 82 Or Hti (, fdg 41 TblrdAv d la laterb It T rof, 2000. ...8 3 I r.000 114 la 1141 ll'adacUanM VnlonPacine 41 1000 84U 1000 ,.,.80il4' 7O00 87 .'1090 8 484 Prana irmlMaA UnlonPaecvIs Iiiterhoro-Jtet HOOO,... OOlg 1000 80la rol trust 4H' "000 ...0014 1'HBc.MtyAI ta IO0O 4 KepIAti HO 2000 4 0 linooo.... Otlig 72003 Otl Chi BAQ cm 4 :ooo n:iiR srKJO H:il8 1000 ...h;iu ciii iktg III 4s 1000 BO C'hl AKutlll l certlflcatrrt 17s 20000 .. it a Chi Ut West 4a HOOT ...0434 O SI A St 1' CV t'i 1000... ,7a8 11000 7 ah lOO(K) ...7,'4la UMAStl'fJ 4H4 C0O0 ...0834 Chi Mil A 81 1' O A 1' V Is 1000.,., 0 8U 4'X)0. ...08 ChlKIArlty 44 10000 ....7 734 1-hlKIAPrrf 4i 2000 OUI4 000 Oil la! 7000 ,. 08U u a I111M Manns 1i' 4000 .'...08 7000 (Ol 7000 70 f.000 7 87s U 8 Smelts fa 8000 00 1 D 8 flteel af a tlOOO. ... ,001s 7000 OOU V ro Ch la. 10000 0334 Btltlron M M lows Cent Ht 7UOII .. 11414 StLASan Fran Sertes A 1000 ... o7lj St l..tsn Fran; Im: 1000 8()lR Kan H ref M 1000 7 034 Kan CltyTer 4 11100 7.1I LShAM Ho 3'.ii .1000.... f0 ChlAW iml 44 1000 00 Colo 1 11 col tr3 2MI00 ,...7:ila Crabd At, re f t 2000... Ixiu A Naati 4 .MKm. ...otlta V Caro 1000 ... 8 fl34 Sinclair Oil U IOOOO 1000.... 70 Mlih-aleStcjIllH afKKI . ,871a Wabaati lit 1000 0 4 a WtnteruKleR la 3000 0 7 Writ .Shore 4 2000... ,7 "la NVII40U A Co 6 10OII ...,0A3a MOO ...OOU Col 80 ext 4li 1 1110(1.. 847h 10O0U.... 87U "000 Otilo1 1000.... H.I 1 warrant 4H., Con ! cv M Ji Mtl'rts1" ai 41 auirj... uia lOOO, .lOO's "OOU . 80 2IKK) O.IN lOOO .10 I ' Stn l'4C H I9M 1030... 11134 Urn A niotl 44 1000 ., .837x Houthl'ac ref 4t 4 2000 8 8 1 Mo I'ac Km 4,, 4000 8 La .,000 OOUIIVOOO 08 I liCKl. . ! QUOTATIONS FOR INACTIVE STOCKS. Illil.Atknl. Harv X J. U 1 t PrreMar et 1 do pf U3 IlHn Corp. M do pf . . . I'M Ila.Kll A II 37 Horn, .lake.. Illinola Cen 11', IntAaCorp. It do nf.. . . ti V.! 71 Jifc, 3f'.i. M '.4 !3 t", 1'. 131 13 13 it do pf cl.. So ' ilo p p el. tl Peoril ft K f. Pi t-Mid. ... SS do pf. ... K Ihep- pf ! PlliWVa pf W, I-CCftStL.... M Pitt Cl pf.. s: PittFtWftC.m Pitt Stl pf. ft Pond Cr O. 1, Pr Stl C pf. !") Pub Serv...!.' 'RyStltp pf. " llep Stl pf. 57 Bead lit pf 3.7 do Id pf . JJ'i I Int. II Con.. 7; Int NcU pf W Int Pan pf ,. do pf t "' . Int Salt. . f". ' Inw.i Cen . . i Inland CrU ;k In Mblch there istrida ; Jeel Tea 31 M 1'. 40 1") H :i CI r, 'jj t) c o VI C3 do pf.. Kan C Mi , dn pf . , KCFtS pf... Kel9.T pf . , Kel Wlitrl. C..1 Askeil. Clinch. I Sav Arm,.. S" I Sea A I. Pt 17 Sears H pf.lij I Slna.ihef.. r,i'i ' SIIASF pf. -t ! St I. Ho IV. H i do pf II SliBttm-:;.... 16li ' So!,rto.'uii..n.) , do pf.... 10.1 Stand Mill, is do pf 7t Stewart W. 41 Sludebll pf. !'l ' Stilt Mot.. 44'i ' sup stl pf. :r. 1 Tit Pae.... 17 do L T...1I3 , Third Av.. 11 ,rideater0.174 Tob Prd pf. !-) TStl.AW.... I do pf.. . ' do pf i'.. Twin City .. ti do pf I'nilerwood Kil.'i i!n pr :4 1' liar ft P f.7 tn Pae pf 71 , rcitsu pf.ioi , L'n lirnr... cs'; do pf Ca.1 pf .. a On C Cii . On 1'dry... ;o C l-ath pf Ivt'j CP.Kof.V.I ..:m CenSiT'l..:)i Chi t: Aim s , do pt Chi A. N W Si', do pf .. .11 CtitWeal nf .P, C It 1 1' 7"i. :s i 3 ', I :i li pf.... Kml A 1 Jt I'. do pf. tci Klnc Co 1' !t l'i'i ' Kreji S II do pf 51 1,1. lede f!na w I.KJ.W pf.. It I.e Tire .. 13 I.lir & My i) do pf Ml Lorlllard .IK Ixiote-W 1 p '3 ,io id pf . r.;. I.on 4 Nas IIS M.n'li.iy . 71 Manlialtui 57'j Man ltpaeh MayllpS pt 101 Maxul 1 if ( I Mle'i Cen X4.SH, new vij Mtl'ASS.M n do pt . 1"! do I. 1. . f..'. Mon Pn .. . .1-. pt -. M St V.atex NC&.otL. 1!S Nat A me 30s. Nat Ill.f . ft ilo pf. int NatClkAS... 73 NalKAS pf. !'. 1W ii'j i M W t", IV. -'a P & O. .!7i, S3 ft lit 71 S' a lit ra'i : ) llJ 7.1 7'J', y :t'i ifti 13" M !' t'l 1 tk 1 4S J..1 i.l si.ith. .1 ilo '.t pf ilo .1 in Tab. Calati. ton fiav . M Con i of n r.; Con Can pf :nj Con lnur it 1 Clex Crprt. 4 1 Crno !"!l pf n1-', e"n lt pr. 4,'a ! do Id pf. 7"lj r s Exp. r.',4 USCstlrlliie 11 do nf... . tsi; VSlnAle lit M , I'SRltyftlni 1" I rsRub l pf w'i ' IKSmelt pf II i t'ssti.l id .no'; t'tali See... ll'i Wall pf B.. I. ' Wells Far., li I Wen it pf ci I W Md Id pf II 1 Wen Pa.- isi; I li'eat l'n. .. 'SV. 1 WALK pf . II White Mot. 44t4 Wil.on pf M I Willy. O pf K; I Wi. Cen .. .17 Woolnorth. li; , do pf .. 114 I 'Et dividend. NOTellM . ! NVCiStl. ., do Ut pf. do Id P f . , is': 4.' NYDoil; pf 31 XVI.4W. . Nor ft Sou ti Sort A W..Mt'4 , do pf . . TS Nor So Stl. . Ohio Fti-1 . 4;i I Ont Sliver 3 ! OuemllaVM. Cl do pf :ct Pao Coa.t. 41 dn pf ... :t I Pa Mall... do pf... .lol i P.1 T , T St I Pan Am pf H'j 7.1 l".l; :.i V'O 11)7 M H 41 i-l do pf ..101 Crn Ci.u. T, ilo pf . (7en Mot nf 3 f;oo,lrli pf . "1 Or.inbs- 74 C.ulfMAN X Cnlf Mfel 1. do lt pt 4"i Ilarlman. . . i M'j :i .i PUBLIC UTILITY QUOTATIONS. Pa., a Lit. I'elr I.l. . . , Hid AUed .im i.iaur i rat t. on ii.. Am I.ialit A Trae Pf II" H7 lit w, ! 7 13 17 7f. 73 70 !-' SI Hi 1 41 4J "1 47 5t 74 7t 7 l 57 3.) 61 54 61 i'l 5 11 10 !. i 1.7 KO .--' It 3! S". f) J I'I IM ion 77 74 74 : r. n 1W 1'5 IM 71 II "3 Cl 41 6; ft SI M K 84 51 I) 7 ,l 7v) 3iYl !' 5.1 K :1 74 r ii i-, f? S7 - ' a; ! ; vi 1- i:. 4" ji ii'J ti H 1 c., l ' Ft SO 77 4 ii.' n 10: .5 s -" II M .1 I 3 tO'a Mv 1)', i.l ; r, " St 1 11 M i; ." ir si I'M. n uo Adlroii'lalt Lit.' pow Adllondack Kle, 'r pf. Am ; A Klrvtrlr Am ta. A Klectric pt Am Power A I.laht. Am Power A I Islit pf Am Public 1'tlllil",. . Am Public PilllllfB pf. Am W w A F.leotrlc. . tj 40 4 71 Apr. 1 Apr Apr. Apr. 1 u. liar ! , Mar 1! - Ian :n Apr. 13 Am W IV A R partlc id 10 Am V V A- It lat pf .. F7 Carolina Power A I.talit. 2 Carolina Pwr A Lt pf v) Cltlc. Sertlie sea Clllea Service pf. . .. 73j Celorado Power 15 Coloraito Pouer pf ..ti lb. 15 TABLE. Comwltli Pr lly A l.t... Cotuwlih Pr Itr A l.t pf, Klee Hond A Share pf , :t o SI II I Umpire llUtrl.'t Wee pf, . Cot . . . j I'iKieral i.l A. iracll.'ti . Pc.leral l.t A Traillun .f l-. I!a A Klee Sccurltie. ..IM I C.aa A Klee Serilr pf .... Vi ' North Ohio Pli.-trtc . .. i No'tll lllii.) Kle.-lrl- pt . , Norlll I bit l.t A Pwr. . lt 1 North tint l.t A Pt pf 51 Northern Male. Power (0 I'i : r.o l 'at . I'i Northern stalls Pwr pf 1.7 Oiark Power A Water. , 77 Pacific lia. A lllc,. . " Paetl.e linH .'. Klee pf il Ptr, liluir pf ... , Hepublle lty A L'kIiI . IS . :,o .1" . 1 N Kepillille lly & u pf. if.w. 1 i Ii I Southern Cj'l Hill.cn 10.' itoutheril Crtl IMlm'.u flf . IK I'. . .: :'. . .i'jf . . i . . i . r. . s tToo . . 2Je ,.i''. . i n ..11.50 , . 1 K ej . 1 Te , .11.50 . AK"t .i.r. St, lid C,a A Klee. . a Standard liaa A Pice pf li Tenn lty, Lt A Pomr.... I Tenn lt l.t A Power pf, fillted l.t A IS) a . ... 17 l'ulte.1 l.t A Ilya l.t pf. ill Weatern Power l IVeMern Power pf . ... t7 fadklu lilier Pr pf ., t'5 Par value J50. pf..., STANDARD OIL ISSUES. Peb. ; Antlo Aineiliaii OIL ... Atlantic It.'lnlnr Ilorne-rYn inner c Iluclte)e Pipe Lino Cli cl.r..nli Mfit c.ina. Colonial (ill .'. ,. Conlln.nt.l Oil Creareiit Pipe Line . , ( mill i rln ml P 1H Inc. .. P'luU PL lialenn-Mgual Oil. . . rialenu-Slgnsl oil i,f Ullr.oU Pipe Line. Indiana Pipe I.lni Interi.utloriiil I'ttio.. , National Tran.it New lurk Trail. II . Vnrttutn Pipe Line.. . Ohio (HI l'eini Ml'li'.lll Pin 1. . , Pierce Oil Corp Pialr oil A lia. . ,. Pnlilc Pipe Line Sclir Krflidnx Si.tltliein Pipe Line. Soclh IViiii Oil S W Pcnn Pipe Line. . Standarl Oil of Cal .. Standard oil of lint Slaiidapt O'l of Kan . . Slmi.Ui.l Oil of K.i' ... SECURITIES. Ml 41.) t; 4 I tl'fl ill 111') fH l.t". 117 110 li 1 :y mi '.".fi ir ii 4 k.', aiu H7 S'3 :.ji r... i-o -i IlM. . : . 1 . nt . si . 10 . I,.', . !', , HI! . Hi .140 . 70 . nt . in . si .17 ) . 3 . to II , 71 A iked 1)1 J3 34 ti-.i 1 1 470 St If, PC. l.'.l 111 IV. I' 11 II :m 131 "ii in 47". 17) 1.1.1 143 Ii 3 ill ?9 no i'i M 100 17; 7 II 10 3 l:i 1.1 !"0 :i" 39 :to jo a i-i'i CJ ii: 511 :oo . .t'l .170 .1 . . 11 . 7 , . r.n l.'O Standard oil .if V'li .. Standard Oil ..f N .1 . Sland.ird Oil of N V fitaiiderd Oil of Illilo . Swan A I'liii 'i Co . I'nlnn Ta'il. Line ai'uiiin Oil t Wa.ttliigtou Oil St Oil ,iili.id "en I.l. ie" Kl Oil old ilk "all on E dividend, 47 '.It 17.1 4'1 '7 St ;r. uii 1.'S t.-. I"S I.l i'll .11 HARTSHORNE c& PICABIA MEMBERS NEW YORK STOCK EXCHANQR Aave prepared tor general distribution a tetter entitled "CONDITIONS nrf SECURITIES." Wo will mail copy on request for our Letter S-js. cv is 7 Wall Street, N. T. GOSSIP OF WALL STREET. Stock Iteact. Saturday'n nhort session, coming be tween two market holidays, irave beam an oBPortunlty of which they took full advantage. Prices melted rather easily under professional selling:, for the out side ncwa was bullish If anything-. Hie Senate's prompt action on the railroad bill was encouraging and tho latest ahlft In RuHsIa'3 affairs ira not considered unfavorable. Bearish operatlona were aided by some publlo selling, for those traders who saw their profits fading let go of stocks In an effort to salvage some thing. American Sumatra was a notable exception, registering a six point ad Kuouer as .0014 Ch M 0 7 vance. The bert opinion after the close was that the reaction wan a temporary affair and did not mean that the upward movement was at an end. American Sumatra, The Moating supply of American Su matra Is so small and the stock. I so closely held by firmly Intrenched, Inter est that any Inquiry for the shares, even though It la but n moderate one, la re flected by wide advances. Yesterday Its advance continued and It was more no tlcable bei-auso It was In a market In which most shares were headed In the other direction. The advance was a net six points to 90, and even at this hlgn tisurn little, of the RtncU came out. He ports nf heavy earnings by the company fiotu ralen of Its products at hlfh prices realized from product purchased in large lots at much lower thun lit cur rent quotations Mro In circulation. Itnllroadn Fall to Respond. ltes or.se of the railroad shares .to the Senates favoinble nit Ion, on the Admin istration's lalltoad bill was disappointing; In oni. war. for no matter how much this was supposed to have, been dis counted It Ma a distinctly propitious de velopment. In some rmpecl.1 the bill ai passed by tho Senate -..'as better than the original measure; for Instance, the Inclii'-lon of tho rountry'a short lines and tho 500,000.000 revolving fund. That It was enacted without a dissenting vote in the upper house Indicates fdmilar ac tion In the lower branch of Congress, and ltei final passage Is believed to be as sured early next week. lli.l.Aaked. 13 33 C 100 rs ec'i .-, M i:.9 :is 17 130 f; III iiu 171 11.' f7 !l i I'M isi i-i 1M British Hankai Combine. l' 11 II I, J'74 7: 73 113 71 4i'i 73 17', r. 'i 1(1 n ia:' 4M, 111 r. i.t i,i SI to Ml'. :.", 4, !' St SI 111 HI Iletween thirty and forty lltigllsh bankj. doing a foielpm busing-. Inciud-1 abnormal' demand "for ac'cl, lug those with branches outside of Great llrituln, hao Jut-t formed the Asencla tlnn of Overseas Hanking Institutions In London. It In understood that the new organization has. been formed to enable tho overseas banks to act together and to exchange advice In regard to common Interstu and problems. Tho bankM that havo joined have already been In con havo joined Have already heen In con- ,r c5(1 t s-5 , (, . T, ,4 sulfa Urn about matters of financial and iwa, be subatlulllally lmVTuytJt' . . anhing ,o i u icmuiiyn ai : n,ar fulwu and ortlcoM of both eorror:.- export of capital, and haveactl to- ,,. ... ..,, ,..-. .,- B-Hicr. in ro'lKi.i... i wiui u.r nrniaii i w bo attaInt,j . tut "I lllii.'ill, ill iriidl.l i. Rii.il tii.'afui l-r, It Is expected that tho association will establish a headquarters for coopera tion In collecting and distributing In formation, statistics and making special Inquliies, and that certain more am bitious activities may grow up later. It is another element In the unification of ltrlt.i'h business It.terests the noild over Help for express Cuinpanlea, There la surprisingly little opposition to the proposed Increases In rates to cn press companlc". This may be because nioft shippers realize; they are entitled to blsher rates, or because the minds of the conscientious objectors -arc busy with lb" larger problems of uppnslns; the railroad Increase. October earnings, Just made public, show- that they are going from bad to worse. o far a.s net Is concerned, Tne lailroad congestion has brought lurreaed pene", and labor efficiency has fnllni ilY amazingly. The Adams had an operating deficit of 11,880,000, as compared with an oper ating Income for tho corresponding ten months of 1916 of $3.12,000, American and Wells-Fargu mrfferod almost na much ; the former had an operating In come of 1040,000 In 1517. as nsalnst $2, 125,000 in 1916, and tho Wells-Kargo an operating income of $6'.i9,000 In 1917, as compared with 2,C34,000 In 1916, r-i,. it r.,d Aalud, Mexican Petrolenm. MeNlcan retroleum's recent Irength. wlilcli has been reflected In an excep tionally strong advance. Is explained by the Increasing nf tho dividend rate by the company from a B per cent, to an S per cent rate. The nuarterly dividend will be of 2 per cent, and UI be paid one-half In cash ntul one. half In 1 per cent, i.tuerty t.oau hoikih. ran-Atnerl-' (an Petroleum, which controls Mexican I Petroleum, declared n 2'.. per cent, divi dend for the riiiartei' on 1 lie. common. compared w.ltli an annual rate of 7 per corporations, win. li ev cent, heretofore. save, the Ititernat lone Corporation the right m .. ' t'otlon (iixnlat Sttuntlou. j phui'le a. id piod.K (ii n.'. Te me--. per up to 225,001) lies a' n i.i h a New Kngland's chief Industry Is feel-1 a ton, and In addition I t.i rt...-1 lug war's effects more ncutely Hian It. an option to tako any '.irt.er i has herelofoie, for, a. cording to the Hun at tho saini- tirK . it'i ' monthly ilrciiuir of tlie I'lr.-t .National lug nii'ts of la.xir .mil titrate ' Hank of Ilnsioii, the restriction of dn-' used u the niniiuf.ictire ,t .' niestio proiiution or cotton goods Is becoming more serious, and while one effect of this condition is- to maintain high prices and a wide matgln of profit on sales, the tendency toward morn hazardous nii'ivhandlsliig is also mani fest. "I nubility to fill orders," the bank says, "lias led to the withdrawal uf n great many goods from the liuirkcl., and to the drastic culling down of ordeis placed for future delivery. Advance 111 price have gono on steadily regard less of the rourse of tho taw mateilal markets, and in the faco of many Im pedimenta In transportation. There bos been a distinct Improvement among mills engaged on combed jarn cloths, duo In part to ntders for aeroplane, bnlloon Peh. 31. P.ld.Afcked. ,!! 12W ftl, DA) 411 40 !.-, --(' ;'.; 11 41 470 41)1 in r.i H3 11,0 in; ki r.'i tar im r:3 H7 1IH I't is 1 1 i.p, '! H 71 l CM I. U ltt W 7113 41 47 10 11 473 4", -70 .")l illll II. ' 1K7 ICi It'll V ino ::h mi i'i r.v, ci (is . ".i i'.'i) lit -.-.l nt t,o 4f'1 I 3 '. lt M ! I .'.r. :s. i". .ii l.'.Vl Mi j and gas mas',4 fabrics." ( nuuael Cnutinit. Hrukcrago houses that have gauged the market's course qulto correctly In the past few weeks counselled caution 111 buying seruritleH at the current level, basing their opinion on the substantial advance of the past month. Ilayden, Stone & Co. said : "Whllo we feel' that stocks as ti rule are well worth what thev nio i-olllng for, and still feel fr.vor. ably disposed toward this market, we alo r-Mllzn that a mbstantlal dnuce has talii'ii place, and that more dlsrrlm. Inatlnn Is necesmry than was th nise a couple of nintchs ugn," lloodbody ei Co s opinion Is tn;U "the probable passage of the Ailinmlstratiri'i hill s, in our opinion, the ',noM portentous event in tint rail road wor.d lor a generation ' .'n Xeiv Orleans llepnrt Xkw (J iii.ua n, Kcb. 2 inarUet, llxcluuigo closed, Rector 4390 NEW AGREEMENT IK SULPHURIC ACIDS International Agricultural to Take Product of Tennessee Copper Corporation. A new agreement Irn-i been enViM between the International Agricultural Corporation and the Tennessee Copper aM Chemical Corporation, It waa liarnel yesterday, whereby the former will tain all the sulphurio acid producM by Te-i. nessee Copper at an advanced price oe the figure stipulated In thi contract made with he old Tennessee manact. men.. The Increase In price iippl'M largely to all production In excess t' 235,000 tons annually, thoug'.i a r-n:i I advance is to be allowed on tho Jt.Sl a ton price for production under that amount. While the now prlro for pic ductlon above the 225,000 tonnaftc up to 300,000 tona was not stated officially, It Is understood to be near $10 a ton. The revision of the acid contract mii tho differences between the two onncrvi which grew out of war detuanda for sul phuric acid. Bigger proMts were ieallr. I by the International Agricultural Cor poration through 4ho sale of nriit cflved from tho Tennejeo f'nr;irat..vv will!; that concern wai making m money owing to higher prod'iotlo.t i! Under tho terms of the new or't-T-t both parties thereto will b ' bei.efl'e I for Tennesseo Copixr'a acid pr.i.lu.- f costs ore estimated to bo under f."l a to.,, while the enlarged output vill swell earnlmta of the International Act-',. i . tural Corporation, IIcbtj Ilrmaild for At'ld, Sonvs months ngo the iieav,- d laid for aulpliut!'! acid led olllcliils uf tv,p h ternallonnl Agricultural to as': tl 7.i nesi people to Increase the'.r aci.l oi t pur, nlilch tho latter would it at uml'--take without a revision upward of tiu ton pi Ice. The fettlement of tlil .;rt thereforo means the Tnnersea ompi v will enlarge Its facilities t'. understood will Involve an e.r,endi.o' i of almo.it 51,000,000 by tho Trrexi corporation, uillclals belieio tin w, i this new eijulpment production v.!!' rej. i tho 300,000 ton marl; this :c.r, f since the 1-wlfohn Interests be.-an e Identified with lYnne.'see Copper It company's acid production liah Jun;,.e.i On Its part the ltitcrnati..:i.il A;- trural Corporation Is able t.i w'.l n'l 'u acid it ran obtain, lt conf.utrd - tn I the United States tJmernrr.cn; f .r u;- proximately 75,000 tons of a. .1 J' a price $1 lees than it obtains fr .m K vatu customers, but even ,,t In." fti'i a reasonable profit is assured. Interests Identified with the li'en.a tlonal Corporation an of tli opinion that tho termination of tho war vw i scrlourly affect tip; company's f acid, for while the war has bpuslt higher prices the compjuy l as eoo .c i a contract for 35 per cent nf tho p 'n ' may normally fount ur.on from the tiessee com;rmy. Till s mM-n ' concomitant -with the Tcn.lse. .it ment. J:i addition Internet otir' Vs tural can lire from 7f,""" t 1 tons nf acid yearly in us own fe t " business, whlrli reduces 'no i n.i. ' . will Invo to dispose of in l ie p"- ' " Uet. Internal lonnl Proflte. tho fiscal year end'ns .' In 1918, It is believed Jiitern.itioi a. - " profits will total about Jl.aOu.OOu.u ."i Is over 1500,000 morn than net X'r from all sources during I91S or 1?1 In 1917 net profits wero 3) 1 .2 1 '7.4 pi" v .1 In the previous twehe tnoidbs 5 ,'-'"'1-S32. The Tennessee Copper and '"l.en rompany Mas organized tn O. ' , 1918, succeeding the old Tc 'cc . per Company, when Ailolph Lew - A Hons and ,1. S. Hacbe A. c i financially interested m i' Te'".' ' plants are now in fiict . I - ' and t.ie company's oui'iut cf r-'i n per mid hulpliune ae il I n,i i ' 1 lietter rate thun In rein! ci' ' " the le.idjustnient ,ii!.itii;s of t , -netseo company v. id be .t . ' pioximately $350,000. . The old contract ,elf,c'. r.cid, the Terlllesee cirii'irn' Its profits narrowing n"d were entered into for a be'ti. culnilimtlng In tlin agte, i. signed. RAILROADEARNDiGS. ann Aiir.oi: ',5'- ' Second week Pel. Sc. I i He Ciirrcniini.ntliloiVh.it .(';7 I " I'lOln Jan 1. ,'nil l CHIl AOO (UMlAT VIrl.l! Second week I 'eh l.i-',..! I Pioiu Jan I . . 1 ti,- "'- li COI.OHAIIO A KH TIII I.-' Week ending I', ti. II JH". ! Mulll-l to Peh. It. . I K 1 Jan. 1 to 1 eh 11 .. I -it. I't NHW lVlKK, NIllV IIAUIN A im Ment.i ot lit cen hci - Rroai .. e '! c" ' Net after laara .11 4 ' I'. Total lucmne . . . I.'io li ,1'rom Jan 1 (iroaa Jhj.74I.S1' P' I .Net aflir tan .t71.ii1" I't Total Income .T7.7I1.7I7 Hi "1 i.t 4 'tl ml -!-M h J Sh 1 PUBLIC UTILITY EARNINGS CTAIl SLi ITHTins (OIH'OIIV (Sutnldli'ry I o'lipinl, ) Tnelia nvintra ended Jan si li, . t,ro, earning. Jr. !- ' Net earning. Month of .l.nt.atr ';r... tarnlnga. i ' Net carnlni :'.' t'NITI'.H IIAir.WAl U (St I.ontf ' I. in, raining. Sit 113. 1 7 v coito,, "peratlng i ie . . '.0.1 "t cotton ,.', ln.nc , , 1M l I tluiTbi"