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The sun. (New York [N.Y.]) 1916-1920, April 02, 1918, Image 12

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THE STJN, TUESDAY, APRIL 2, 1918.
!
If you are interested in
Government Bonds
Foreign Government Bond
Railroad Bonds
Municipal Bond
Public Utility Bondt
Industrial Bonds, or
Short Term Note
the facilities and assistance of
our various departments, each
specializing in one class of se
curities, are at your command.
When rtquei'hi offering ty Int.vmi
livn plcie tmli,m ID-..
TheNationalCiiy
Company
Cfrrtifeniert Of.ces in U Ci'Att
BemU-Short Term Kaln-Aertftaittt,
FINANCIAL NEWS
AND COMMENT
Trading Is Dull in Stock Mar
ket, With V.cry Ifttlo
Enthusiasm.
PRICES REMAIN NORMAL
American Sumatra Tobacco
Advances on Fairly Act
ive Dealings.
Globe Oil Company
, Monthly Dividends being paid
71 Producing Wells
No Bonds
No Preferred Sto k
Daily Production 1500 Barrels
Send for Circular 5.
Farson,Son&Co.
Member New York sjfock F.xcb,ine".
115 tJroadnav. Xe lurk City.
J. K. Rice, Jr. & Co. Buy & Sell
Great Northern rnner "Rig-Ma"
If. Y. tiilniK-laiif lie 4'om.
Ingersoll-Knnd Com,
Jo. lilsou Crucible
Lehigh Valley Coul Sales
National I'lirl lin
N.-Y. City Interrmrough
Hemlngton TypeMrlter Mock
Ringer Manufacturing , ,
Am Pnrltlr Coal 1
J. K.Rice, Jr.& Co.
Phones 4000 to 4010 .lohn. 3S Wall St., N. Y.
Bonds for Investment
Harris, Forbes & Co
In. Street, CortMr William
NEW YORK
STANDARD
WEEKLY
SUMMARY
OS
standard
oil issues
I
WILL BE
MAlt.KD
TO
IN'YKSTMM
ON REQUEST
CARLH.PFORZHEIMER&CO.
Tbone 4100 1-2-3-i Broad. :s Ilroad St., N. Y
Suggestions for Investors
may t had on request
A. B. Leach &. Co., Inc.
Investment Secorltlee
62 Cedar St., New York
Chicago Philadelphia Buffalo
Boston Baltimore London
auSaI ThTodro'o!
NOBLE & CORWIN
It Broad St. lSw York
Bankers Trust Chase Nat' I Bank
Guaranty Trust Hanotcr Nat' I Bank
Telephone nil Bra ad.
SHORT TERM NOTES.
Security.
AmCottooOtl
.VraCotlonOil. .1
.VinTelA-Tol. n
.MnTtarradCn. 4
UaltAOhtiiHK
HaltAl Intuit It .."
Hethlehemsu'cl '
UklynKTCn. a
4.'anNorthornlty 6
CanPaelucKy. .
OntralArgUjs. .11
tlhlBurAUKK . 1
CnUkWlmlltlt. (I
CubanAmHugar. . U
43ubanAmSug.tr. ti
CubanAm8ugar..O
prlAHudHK... .5
KrleKallroad 5
PedSugltcfCo. . .6
4JeiiElectrtc.'o. .0
GrnKlectricCo.. .0
4ienRuhbcrCo, ft
OrsndTKyofUati.r,
4lreatNorthernll..1
3IoklnVttll II
3ansas4."ltylty. r.$
JfanCltyTcnnltylW
JtanClt-TfTinj4l1
MIchUeiiKIt .1
MonTramAPCo tl
Morgan V right "
XYCentralltlt. .'
N'YNHAIIKIi,. ..1
Pennsylvania
PhtlaKlectrlcCo.
Proctor AGarable. 7
I,rorterAOanihle 7
I'rocterAOamhlii 7
)roctcrACIamble.7
ProcterAOaniblc.7
PubServCoN'.l . .-.
JtemArmsl'MC. .-.
Houthcrnlly 1
UtahSecCorp. .
WlncllepArnwCnr
IVcstKAMfKCo (I
Rate. Oun.
. .." Sept. I9IS
.1 Sept. 1(1 III
II Fell. 1 I U
Jan. HUD
July IMS
July mm
IVb. 1VI9
July Iflls
Kept. HI1S
Mar. a.'Jt
Feb. 19S7
July li'2l
.Sept. 1'IIS
Jan. 101(1
Jan. 1 ()
Jan. inji
Aug. HUH
April lltw
Jan. ltuo
Dec. lni'i
July I'Uil
Dei', lots
Ainr. HUH
Sept. 10.'(l
Nov. 191 s
July l'l is
Nov. l.VIS
Jul- I'd
Muy 1.V1S
April lu
I1 PJIS
Sept. 1 VI 9
April l.VIS
- J Junu 1.V21
ii Feb. invn
Mar. 10111
Mar. 1020
Mar. 1021
Mar. 1B2J
Mnr. 2(121
Mar. 1011)
Vrh. ini'i
Mnr. 2,'1't
Sept. I.V22
Mnr. lotli
Feb. l!ll'(
BM.
(ij
ll'l
07!v
no i,
OH
07 ,
or.
(IS4
07
VH'i
07L.
UnlJ
071.,
0.1 ij
or.
V"i
on ,
0H
07
(Ifli;
00
07 i j
(si,
(l.l
00',
h.'i
00
(111 I j
00 ,
05
(IR2
1011
01 (
Aekerl.
0i,
l0
am
OS I,
00 l.
0JJ
00
oo H'
OS w
07
OS
04 W
'"'h
loo
100
OS
("0
1)7 it
oo i ;
OS),
Oil
(II
lUJi
00
100
07
("Hi
nH
0S4
loo;,
loo
Ofl'j
NEW YORK STOCK EXCHANGE PRICES.
Monday, April 1, 1918.
Day's snlp.i...
cnr to date. .
1918. t!Mi.
.' 181,973 08 1,100
38,063,019 -1?,M1,TC0
Annual dividend rates are quoted In dollars.
1916.
514.800
43,0:8,837
Cloelnr,
Bid. Auk.
Dir.
Rt
70
1H
1H
22
77
40
70
SO
31
filVi
8?i
4
74
li
1T4
24
80
41
79 i
sr,
9
4S
Sale,
Trading on the Stock nxchanco was
rendered conspicuous aifnlri yesterday by
tho lack of nnlmatlon and Initiative In
a market which was by all odds the
lulle.it for moro than a. year. Business
was on a somen hat larser scale than
Saturday, but only becaupn there were
five hours for deallnc Instead of two.
I.arklnir Incentive to stlmullo enthu
siasm In operations for either account
pi-icea moved within n very narrow cir
cle, with the exception of ono or two
shares In which there were wider
fluctuations by reason of purely local de
velopments. Ab a whole tho price list
stayed close to the ranire of Saturday.
Wh lc there was a good outwanl appear
ance of strength, which reflected encour
aging developments over tho week end
and a moderate amount of short cover
ing, which was prompted by further con
sideration of tho Attorney-General's de
cision In record to the Htamli tax on
stocks, the total lack of Interest In the
transactions, as well as the absence of
fresh buying power rendered the fluctua
tions meaningless from nny viewpoint
There was little Interest manifested In
the trading outside of the tloor trailers,
and even they went through the motions
rather perfunctorily.
Although tho war movements continue
to govern fluctuation, to a large eMent.
!t Is becoming apparent that the main
fear regarding the ultimate outcome of
the battle in France lta been overcome,
and that the market Is again settling
back Into a state of lethargy such, as
prevailed Immediately preceding the out
break of the German offensive. At the
same time the falling oft of interest In
the war movements is giving place to
domestic considerations which have been
tending to restrict business In tho Stock
Kxchange for some time back. The most
prominent of such considerations Is, ot
course, tho proximity of tho third Lib
erty Loan campaign, which opens next
Saturday, and which Is bound to over
shadow more or less the market for the
period of distribution. The financial tl's
trlct is nevertheless looking for some
encouraging development!, from the
counter offensive in France, Doubtless
favorable news of this character would
have a very beneficial effect on the
course of prices, but Wall Street is not
prepared to anticipate such occurrences
until they have actually taken place. As
regards other considerations the stock
market Is giving them scant attention.
This applies to the progress of the war
finance corporation bill ns well as to
other Incentives which intent be expected
to find reflection in security prices.
Tho great majority of shares in the
exchange closed with only fractional
gains for tho day, but there were a
number, neverthele;... which made rela
tively wide advances, considering tho
very restricted character of tho trading.
Among the most conspicuous In this
respect was American Sumatra Tobacco,
nhlrh advanced more than 1 points net
for tho sessions on fairly active dealings.
Studebaker and Sinclair Oil, on the
other hand, continued weak, both mak
ing new low record for the year. Steel
common moved within n very narrow
range, an did, indeed, most of the other
steel and Industrial shares. Mldvale
Steel made practically no response at all
to tho very favorable statement of
operations for the past year. H was
firm throughout the a.iy. but so were
all the issues of the same character.
Heading was fairly actlvo in the rail
group In the forenoon, but Interest died
out before the Fesslon was over.
Thcro was a change for the better in
the money market, call loans being
made on the Stock Kxchange as low as
8 per cent for the first time In several
weeks, There was also an abundant
supply of such funds available, as much
rji J18, 000,000 being offered at onetime.
There was little feature to the foreign
exchange market. A frllghtly easier
trend was noted, but generally reces
sions were small and unimportant.
77H 78H
101', 4 IOi-iW.!
80
90
C2
mi
101
100H
cou
3
1041
fit's
7r.
hi
5-
87
lOt
77?,
3SH
23 V
9J
1!U
138
3TU
CI
30-;
sow
r.6H
40U
70 Ii
19H
r5
fijtj
13 vs
tl
2
32
S3
33 4
62 Vi
41
SU'
145,
27-
30
33 U
137
137
1174
SO
!'94
274
40U
SO I
l."t!
Uo4 l:
fi2
92
c;i
94 4
102
101 i
514
fi3Vi
in-.i.
C24f
O.l
I 89 1
1014'
7fi I
40
234
10
20
1384
384
6.VS,
31
83 !
I 54
41 '
71
O'.i'
14
66 :
134
414'
I 33
32 4 '
, KG' '
3 1
63
, 41 14'
13
27
33 :
"534
139
139 I
119
81 4
91 1
2S '
JIUi
41''
964
47
0 :
81
10'
5
4
12
4'
lOO.Adums Kxpress
700lA1aska O M..i
ISOOiAliiKka Juneau O M
200AJax Rubber
100Allls-Chalmors Mfs
1 UO Allls-Chnlmers Mfg pf . . .
ISOOIAni C1111
4900' Am Car & Foundry
100Ani Kxprcs.s
100 Am Unseed Co
lOOd'Am Locomotive
100,Am Malting
400Am Malting 1 pt
700 Am Kmelt lief
100 Am Smelt St Uet pt
100 (Am Smelt Sec A
'Am Smelt Sec A, M 30..
Opening.
200
9000
300
Am Steel Foundry
Am Sumatra Tobacco.. . ,
Am .Sugar Kef
1300 Am Tel & Tel
200Am Woolen
3300iA(iaconda Copper M
100'At, Otllf W I 8 S
100 At, (iutf & "W I 3 S pf...
2600 Baldwin Loo Works
300 linltlmorc & Ohio
2i'Hiiltlmore & Ohio pf
100 I5.irrett Co
734
IV
14
R4H
24
81
40 Ti,
794
81
31
62
9
48
77ft
105
91 U
904
62 T,
91
102'i
101
614
634
106
614
7B4
62
S3T
87
HTihT
est.
734
Hi
14
344
24
81
40
79
81
31
62
9
48
78
105
914
904
62 Ti
944
1024
101
614
63
106
614
734
r.24
Lo
est.
734
14
1H
f.4
24
81
404
79
81
31
6 Hi,
9
47
77
103
914
904
62
90
101
100
M
634
105
614
r2
! 53
87
dollar.
1 Hi
I Chans.
734
Hi
Hs
54
24
81
40
794
81
31
62
9
47
78
103
914
904
2
944
101.
101
51
63
103
614
74
52
54
87
COO Uethlehem Steel 8 p c pf. 101 4 101 si.t014'1014
4ri00Hothlohcm Steel H 1 77, 784 77 77
64
30
814
364
414
714
19V
53 4'
06
134
41 4
30 '
r.2
S6
33'
4141
84
13
28
1 34
334
138
1374
120
St
90
274
404
39 S
96
54
97;
!'
2S'
42
sr. '
30
76
184
614
52
92
60 '
103 I
234'
91
2S'
43 '
94
31
774
19
624
r.t 1
93
3114' 314'
454'
4 I 5 I
21' '2'
52 ' ?.2
2S , 2S4'
10 'no 1
144 13 I
r.r.4'
1S-V
6?'
28,
S5V4'
7
444
41
11
52
38
V
66
52
524
23
Sl
7S
9
lfi
16
26
83
224
60
3S5,
60
194
70
294'
85'
67
44
42 ;
114
56 I
39 '
C3 '
68 1
524'
324
234:
82 1
79 '
10
164'
164 1
274'
85'
224
61 '
38
MONET AND EXCHANGE.
Hlrh ,
Low .
Year'a
CALL RATES.
C'4 I Laet 1
3 I Renewal, IV,
hlfh I Year's low :
TIME LOANS.
Mixed Loan.
Farcers
I
; 17 17
1 43 14 1
514 51
, 67 1 724
' 11941120
874 88
122 122
1034'104
124 434
All Industrial,.
Per cent
Bixir ts
Ninety iters
Four months e
K1t momtai
Six month,
Rlxtr dan ..
Ninety days ,
Four month,
Five month, ,
Sli months ..,
O'Hi 11IO
ion inoi
lift '4
07 1
St
Oil,
ot.
Oil I',
so
07!,
Ml
O'l '1
ystj
Ciotemmrnt and Municipal.
sepnrltv Kale. IJne
AmerfroreiKiiSec .' Auk. 1010
Anclo-Freiieh ." Oil IS, JO
ArcentlautJmf. H Mav 1.V2U
ItyllordeamFr U Nik. 1010
'ttjLyoDs.Fr. ..0 Nov. 1010
ItyorMontrnnl ..'1 Mny 101s
ntyoff'arls.Fr. ' Oct. IB '21
''ItyofQuebec ..S April 1020
Jioimoirmon :n..n Aue. 1010
FrenebOovConv nM April ibio
.a issue or mm ejjo
I'M
IIV
"0
in
so
00 li
OS
osM
PrenehOnvt. .
NorwayCiort. . . .a Feb. 1023 lni
J'rovofOllebec ...1 April 1020 n.l
TtoaalanOovt. . . .." i Per, 1021 ns
liueelanOovt ...r.lj Feb. it,'2( W
Jttimlandovt . ,,ni Jin., is.'pj ao'!
riwltrerlandffovt.r. Mir.A')20 100't
Dollars per 1.000 frnnes.
t Dollars per 1,000 rubles.
Asleil
ti.Hi
unij
o',,'
an u
Ml
100
SSI
ei40
OS
102
05
40
1911
42
100'f
COMMERCIAL PAPER.
Prime Indoraert Bills
Rrealrable.
Sixty dare
Kiniv daya
90
78
41
lu.1
74
404
4
144
194
494
91
40 4
414
17
54
1 A merle
I Allaiitle
,in r.ii;n
MISCELLANEOUS STOCKS.
JHi. Al(.. IHd.
Am t;nine.. .i 11 l. st coin
(LI
40
Am M h Y. '5
Am Type F. o
Am Cb pf.. cr.
Am T V pf. SO
A D T N J IS
Atlaa P C J
ilarph Dro,
h Spin 1 p 71
Damn Bro,
Spin IpR
P.or C Milk. l
'for CM pf M
lluah T pf. K
rellulolil . 1M
Cliilrte t'o. ?l
:iiild i,f '.i
Col Or.ntiho Tl
rl fir pf iT
tilt V pf 'v
'Hoe y Pr
(
M4
Mnt SilviT pf 71
iltna C'ik. (,f
(Sllrti Lime.. 1
I Mich L pf.. ro
(Nat Cakct . 85
N J 7. nv at :7
(litis F.lev .. (5
'Otl Kiev pf 73
'Phelps l . (
I'ratt W pt
'Ueei Tiii 1 1 j
lit T 1 pf . . 10
II T 3 lit. Hi
,ltv II. u iMrir:
illy Hi. ! pi
s.if it f. 1, in
Sinrer :ifir...v)
Al(.
IVil
s:
to
11
a
95
so
in
:?o
p:
I4'j
l'l Siprer :ifiT...v) l.i)
t Meat I'rlirs Un I'p '1 t'enla,
' Ciiiciwi, April 1 -I'rlcei of llm better
cuts of meat urio incivased about 24
cnt all over the country to-day, It was
I nnounced bv representatives of packing
toncerns. The tnercasii was line to the
lightness of cuttle receipts. It was said,
rud Is customary at this tm of vear.
jnuiii!ineni inrauesK iaj had noth'
MB to do with the ,i,cieae, it was -nil!
Six month.
Other Kama.
Three to etx
month,
ACCEPTANCES
00 day,. AO days, an day,.
Bid. Ask. Lid. A,k. Bid. Aak.
citrlhla- member
bank, ........ 4 4ii 4A A 414
Elirible rro n
member banka. 44 4H 44 4 4H
Ineliitbla bank
bill. S4 H 4K
CLEARING HOUSE STATEMENT.
Clearing House exehan,e, Jl,43,9; bal
ne. ST.; R0S.691: SlIb-Treasur.T deWl bal
uncr. St.6BG.4:7; Federal resene credit bal
ance, J3C,.:71.
i.. a, t..,. Battery 1
noeinn vi . -. . .... uu-w, .-u ..-. nnwery.
discount bid: San Francisco, par; -Montreal, nrv.ni !
tU.S!i to premium; Cincinnati, rari.Hmnxf
alia firnmlilm ' . . 1.
StLVEH PRICES.
Bar allyer In New York, KHc (official
prica), unchanired; buslnee, price Including
premium, u,tukiirw, n, j,muu,
sd.. unchanged: Mexican dollar,, .'4c, un
Prer..
Hlrh. Low. Last, cJoee.
4.TSH 4 76H 4.75. 4.75,
4.7SA 4.7SA 4.7A .T,
4.7Wa4.7lS I 1M7 4.T5euAj
Prer.
Hlsh. Txiw. Ijt, eloae,
f..7:u 5.7:1- r..;2'i r.;:i4
5.70- C.TO't 6.;0 f..70't
t.73''5.7!'i I JMi.. . 6..54j; 071,
Hlh. Low, t.Tt, cJom.
, n.ai 13. :s 1 j 11 S5
,, LI 00 1S.0O 1 )co
FINAL RATES.
904
794'
424
1014'
7
41 '
22 W '
1S'"'
524
52
94
40
42
17
55
1
6
1
10
6
6
10
8'
16'
S
ii
o
10
3'
6
3-i;
1!
lOOiUrooklyn It T
200 Uooth Fisheries
lOOiHutte Copper & .inc.
300'Hutto & Superior Copper
900C.inndlnn I'aclfto
200 Central Foundry
1400 Central Leather
100 Cerro do Pasco
100Cham1Ier Motor
200 Chesapeake i Ohio
100!chl, Mil & St Paul
700 Cht, Mil & St Paul pf....
200'Chl, It I & P
200 Chi, It I & P 6 p c pf . . . .
200lChl. II I ft P 7 p c pf...,
S00 Ohllo Copper
400 Chino Copper
100 C, C, C & St I,
200 Columbia n & F,
100 Cons 1ns
500'Corn 1ro(lucts
4.r.UO,Cruclble Sn-cl Co
9s00 Ulst Securities Corp
200 Dome Mines
200 Krlo .' ,
100 KrlH 1 pf
100'Flher Kody Corp
ioo;n.iston w w
200 C.en F.leetrlc Co
20rCfcn Electrlo Co
ISOOifJen Motor Corp
lOOjflen Motor Corp pf
400IOrcat Northern pf
1700j(ireat Northern Ore ctfs
200 Clreeno Cnnunoa
200 Haskel &. Parker Car
100 Illinois Central
4400'Inspiratlon Con Copper..
COO'Int Harvester of N .1
100 Int Harvester Corp
100'lnt Harvester Cr.rp pf... 100
1200'Int Mercantile Marine...
4700,Int Mercantile Marino pf
200 Int Nickel
250'Interhom Con pf
300 Kelsoy Wheel pf
500 Kennecott Copper 1
500'Lackawnnna Steel Co.
100 Loose-Wiles Biscuit...
lOOlMackay Cos pf
400l.Maxwell Motor 1 pf...
4500'Mexlcan Petroleum ..
SOQ'Miaml Copper
1300'Mldvale Steel & Ord.. .
400IMissourl. Kan & Tex..
600'Mlssourl Pacific
200IMIssourI Pacific pf....
100 Nat Acme Co
100 Nat Piscuit Co pf.....
lOo'Nat Conduit & Cable..
300 -Vat Iad Co
400'N"e-ada Con Copper . .
400 x Y Central
400lN Y, N H & II
S00 Northern Pacific. ..
100 Nova Scntla S & C
200 Ontario Silver
HOOiPennsylvanla R, It
1000 Peoples CI.is, Chicago ....
200il'ero Marquetto
200"IVro Mnrquetto prior pf..
lOO'I'iercc-Arrow Mo'.or
300 Pitts Coal of Pa
100' Pitts & W Va pf
300 Railway Steel Spring
20 'Hallway Steel Spring
500 Itay Con Copper
11700Keading
394' 39 4 39 4 1 394
22 I 23 22 23
9V 9' 9 9
194' 194' 19U 194
138,138 138 138
384' 384 384 384
2
4- '
H- 1
4
h;
44
1
H4
4
14
634
30
814
54
414
714
2041
554'
66 '
154
4
30
8SV
86 '
36 '
64-1,
30-
814
5 4
414
71
l
554
fl.
I !,
41
30
oa
som
814'
564,
414I 4.
71 ; -
'-4
H
T4
1
u
M
1
6T,
1 5 -'a
41
30
63 I 63
41
84'
15
2S
34
334
138
1374
120
SI
90
28
404
39
9!.
32 4 1 324
(
33
62
86
33
62
40
84
15
28
3t
334
138
1374
1174
81
90
274
404
40
84
13
28
84
334
138
1374
118
81
90
28
404
394' 394
96 96
46l 474 464 47
nsJiiey'iir 1J64
55 55 f 55 I 53
100 '100 100
2SUf 24r.ii ;. '
914! 90' 90'
28' 2S. 28 I
43 42. 43
1
1
u
'4
4
4
4
'i
90
31
77
184
90
30
76
184
I 90
' 30
614' 14; 6141
52 1 52' 324'
P.3U' 92. 1 9311,1
"I
91 U I
28;
42
90
31
76
184
614
62
924
31
45
4
21
62
28U
101 100 100 '10S I
14 144' 14' 14
66
194;
69
"0 5, I
t
-f
4-
1
l
184 4
934
31
45
4
934 ' 92
31 ' 31
43; 45
4 4
22 21 22 -f
52 52 52 ' -f
84' 28 28.
1
74
64
in
... 69'
... 29
... 854
.... 62
.. .' 7; I
44
42 I
32 4'
38 I
I
I
en la
C2
7
44
424
12
32
28
52
6
r.lTi' KB
19' 194;
69' 69'
29 29
834,1 85'
62 62 J 4.
7' 7
41' 44'
42 '42 I
114 11U1
324' 524'
H
4
U
1
4
14
4
4
1U
4- 4
4-
1
8141
600 P.epublic Iron & Steel.. ' 79 '
100'St Louis & San Francisco) 10 '
67
52 I 62
52' 52
23
82
38
67
52
I
38
34
1
2
lOOIShattuck Arir. Corn
10ft Shattuck Arlr. Corp s 7...
14100iSlncl.Hr Oil & net '
700 Southern Pacific 1
COO Southern Ilailway Co ....
400, Southern Railway Co pf. .
13300'studel'nkrr "ori '
100 Superior Steel
5000 Tnn Copper & C'hem....
lOOO'Texns Co '
4200 Tobacco Product-
200 Cnlon Rag & Paier
ltlO Fnlon Pacific
2400'Unlted Clgnr Stores
1400U' S Industrial Alcohol...
100 C 8 Rubber 1 pf
200 F S Smelting, It AM....
28000 i; S Steel
1000 Ftah Copper
?00 Vn-Caro Chemical
100 Vn-C.iro Chemical pf,
lOO'Wabaeh
200 Wah.T-h pf A '
inolWnUish pf 1! 1
100'Westrrn Maryland '
100 Western Pacific pf 1
75 'Western Pacific pf '
lOOiWestem I'nion Tel '
200 Westlnghouse E AM....'
100 White Motors '
2600 Willys-Overland t
16 !
15
28 I
83;
22!
60;
41
79
10 '
16 !
15l
28
83'
67
52
52
23
81
78
10
16
16'
27 I
23
81
7S
10 '
16 !
15
26V
S3i.4 834'
2 J 22 3a "2
60! 60' 60
41 2SK.' 3S-'
7ln4' 35' 354 ' 33U
, 174' 17' 17' 17
'114 144 142 144
; 51 I 52 61 51
68 ; 68 1 67' 67
;1204'1204'113'119'
87 SS4' 87 87;
'122;'123 ,122 1??v:l
,1034:1034 1034'1034 1
1
42 407,' 4 4 4214'
904 90) 90 90
78 79 4 78 79
42 ' 42U' 42 I 4!wl
104 4l10t4'l04 4ll044l
40
22
13'
50 4,
60
92
40;
42 '
17
65 '
74'
40
22
1,34
504.
50.
92
40
22' t
134
304
50
92 1
40' 40
42
17
654
17;
:4
40
22'
134
r.04
30
92
K!
6541
1
4
1
1
1
4
800iWllson ei Co
eodd lota. Note Odd lot transactions oro not recorded in separate line
unless salea were made at prices outside of the regular full lot range.
NEW YORK BANK STOCKS.
FINANCIAL NOTES.
gtarllnr
Demand...
Cable,
March....
Pranes
Demand... Cables
March....
Ruble
Demand.., Cables
Yesterday', Cloe.-
iJvaianu
Normal
ratea
ofrieh. or che It,
4.ine3 Sterlint 4.7SH
1'arla S.72',i
China
Honirkonr 7
Shanghai Vt,
1I.SJ5 fi recce io.m
41.10 Holland lo,
4:. II India
Calcutta
MtM Italy 7r.
i,H Ja'ian
Yokohama n e.
Rusl.i r. '!)
SeaiKllravia
Htoikhnlm 3 vi
4'npeiilmcen .... 51
Chrlitianla .. . . .11 ..1
f pain 23 W
South Amerie-
!J,49 Rio .1(i-,
Rueno. Ayre... , 41. M
KVA Arurntina (fold) S1)"
l.Kn Snitrcrland 4 1:4
tl.W
16 7S
10.895
Cable,.
75.10
107
TO 00
IC'j
r.i 73
jj.:3
y
si
.11 r
23 u
44.40
M 10
4.S04
eO day,
0 day.
TIME HILLS ON LONDON.
Ilanaera. C'nmmerrlal.
4.i:i, o days....
4.10'4 I 90 day,
i 4.71 H
4 V
ins
210
101
ar,o
H.0
I'll
Butrhft I)., no
I'ha.e .in;,
Chat A P.. 223
ChelaeaEx,,
Chemical... n2
CI.Nat....JOS.
rity 380
Coal Air. . .200
Commerce. ,104
Colonial. . . .8BO
Columbia,., isn
CornExch. .305
Coamopolltsn s.s
Comnierc'IE.30
Fast Hirer. . OS
Fifth Mat ..200
Fifth Ave.. H.inn
Firm Vat, . .M
(larlleld. . . .1IW
(ler-m. . ns
Orrmanl.. 1
Motham N 200
Hid. Asked. 1
ron
ISC!
221'
210
420
170:
1P0
343
1S5
?I2
0
210
168
160
100
7
S2.S
4.VI0
ono
170
147
22:
. ..ta-.
, 2.15
. 1,11
, .4WI
37.1
. .37".
,3110
(Ireenwlch
Mnrrlman.
ftanrtver
lni .V Trad
lr Nat
Liberty .
Lincoln . .
NianhtCo...310
Meeh&M..2rtu
Metrporn.. r
Mutual 37H
Merchants. .240
NewNeth',,200
V YN B A..40S
IV YOouoty.lM
Park 400
Pari Ac S71
I'eoples 2011
Produce El.. 200
Public 210
Sherman . .
seaboard .
Second . .
State . ..
2.1d Ward.
union Fa.
Wa.h Ht
est Side.
Vorkvtlla.
HW.AtVed.
12D
4.-n
30
100
1111
141
ivi
17.'.
,S5J
34 S
2 4.1
KM
SOI
JSlI I
17
3.1.1
210
son
610
235
S20
130
47
Dlrertor
009BTP 07 WALL 0T1EET.
10s
000
Trust and .Surety Companies.
Alliance Pt.. e.
Am Surety., los
Bankers... , 3 SO
llondMt..10O
Brooklyn... 610
Central 70.1
Columbia... 360
Commercial. 100
Empire Tr. .200
i:nultahle...83ft
FLT...
Franklin..
Fulton.. . .
Fidelity...
Hu.irantT,
Hamilton.
Ilud.on T,
lilmi.t'o .
I.as vert
l.snT ...
I.lncolnl: I'
Bld.Atked.
,30
,3V
,210
,200
,.12l)
.260
.1411
.620
, SI)
. 01
. 05
7ft
in
300
200
A&O
716
260
300
346
300
24.1
266i
a 10
330
270
14.1
tlMI
00
10S
101
Illd. Asked
Mann 1.15 146
Mer T A n,.100
Metrnpol. , ,300
Mtaelfond, . SO
Mut'ITofW..ll6
Nat Surety. .181
NYLITr. .S75
NewYorltT..BSO
NYTItle, ... 80
Peoples 263
CJueemiCo. , ,
ItealtvAe.o.. 6.1
seandlna'n. .201
Tltlefl&T.. .20.1
TrausatUntlelTl
Union ..,410
Upstates, , ,00
USMAT. .,400
l'ST(lL... 711
W'eatche.ter.1.10
iV6.IITa,M..Hli
326
00
126
170
026
600
00
27S
SO
75
2(10
27.1
SO
140
176
A Caatomarr Doll Day.
Opinions differed yenterday as to the
reason for tho oenlractlon of market
activity, but thero was no ono o 'dis
pute tha fact that It was one of the most
uninteresting sessions of tho year. A
few Issues supplied all the motive power
for tha market machinery, of which
American Sumatra was the principal
contrlbuter In point of activity. Steel
common opened higher, aa did most of
those which opened at all, but after tho
first flva minutes of trading triinsactlono
fall off sharply and the volume wan so
thin that the ticker wheel was Idle many
minutes at a time, Soma took tho day's
Inactivity as a sign that the war news
of last week had been exhausted an a
market factor and that Wall Street had
returned to the drifting of several weeks
ago. Others thought triders were wait
ing on a more definite turn In the tides
of battle In l'uropo and felt sure that
any decisive counter stroko by the Al
lies would find a sharp reflection In
stock prices.
BONDS IN NEW YORK STOCK EXCHANGE.
Monday, April 1, 1918.
1918,
Day's sales $4,348,000
Yen r to date , 308,403,000
United States Government
Want Coal Hate Increase.
Wahhinutmn, April 1. Tha Colorado
Midland Railroad applied to-day to the
Interstate Commerce Commission for In
creases of from 25 to 50 rents a ton on
bituminous coal from points on Its line
In Colorado to destinations In Kansas
on the Rock Island,
e. tit. r:,.T.An . .
w 'J"1,',11"1011 tn the Continental Hank of
This Unocal TI..I....1.
3311, uf J, 4, .111 oer Marrli a ear se,i.
too ' " N"'',l' Vcrk n!""k '""Tany report,
""' 'lc.rr?V. mr lh "a"1e month a year
ajo of f S2.S76. Tha net Income wa, 95..
42. an Inereaas of 1I,,T7.
The Ontario Silver Mlnlnt Company re
port, for the year anded December II last
JJIIieil'oT1..?. Ui " omPred with a
deficit of IHI In lilt.
. W. Prraswleh A Co. and A. B. Leaeh
Co. are offering Jointly ItoO.OOS of state
of Montana per cent, war defence bonds
at 101 and Interest.
I-'. n. Jenntn.a a
416 I rtiiMell has been elected a director of the
liu, Contlmntal Hair Company.
irni ... ,, .." . ..t,pr .me atncKen irom
the 1 tt 'nh.n kmt: Q.. r.
tea year collateral trust per cent bonds,
due April 1, 1911; Morgan's Io-jlalsna and
Tessa ltallrnad and Stmtnahlp Company
tlrat 7 pir cent, bonds, due April t, 1911:
Now York City 4 4 per cent, aeries 1, cor
porate stock ,due April 1, 1911.
The Chlcaito and Interurban Traetlon
Company reports for tho year ended De
r.ember It laet gro earning, of IIJI.HT.
compared with ll,o: for the previous
year. Net after ruie, totallad 111.011, a
deereaae of 114,647 compared with 1911.
..T.h;.,ilnnTl c,,Jr I,Rnk has withdrawn
1128,000 of sold from the Bub-Treasury for
shipment tn Mexico.
The American Eichsnge National Hsnk
Is preparing to ahlp 11,000,000 In currency
to Cuba.
Thn M'lllys-Overland Company snnnuneea
1 advanced from 175 to 1100 pr car. the
S in 1 same becoming effective from yeeterdav.
of tlin Chleago Pneumatlo Tool Company.
John Mulr Co. hava l.mad a booklet
pnlnllnB out the way to a maximum uo
of the partial pnymenl plan.
The National City Hank ha, completed
preparation, for opening a branch at San
Juan, Porto Itteo.
American Sumatra,
While tho gains registered by Tobacco
Products and Cigar Stores may have
been due to short covering, as reported,
tho advance scored by American) Su
matra was on the buying by the same
Interests which have been associated
with tho stock since It sold down in the
twenties. Yesterday's forward move
ment carried It to 914. 4 4 point gain
from the lot closing price, and the bulk
of tho buying was above the 93 level.
As pointed out here recently, tho people
which control Sumatra nie convinced
tha tthere will lie no serious break In
the price of their Connecticut grown
leaf tobacco, which has been spoken of
recently as a bearish factor. In fact nit
indications point to even higher prices
for this quality of domestic tobacco, as
It Is well recognized In tho trade that
there Is shortago of tobacco In tho world
to-dav. a condition which In likely to
continue nn long as the war lasts. An
other consideration in Sumatra's case Is
that It Is one of the stocks listed on
he Stock Kxchange on which shorts may
have to pay the new tax several times,
as the total supply Is small and bor
rowed stock might easily have to be
switched repeatedly. In quarters close
to tho company's, management It is said
that a recent private examination of the
company's affairs revealed a more re
markable situation than won disclosed
by tho half year's statement of earnings
published several weeks ago.
OS Liberty IM
2Mmn.,,,i)H.M
1000. ,.08.91
9000..,. 9 H. 90
23000..,. 08. 94
3SO0O....RB.9I
1GOOO... .08.94
33000.,,. 0 8.9
eOOO... DH.94
20OOO ,,.08.99
1 12000... 00. CO
23000. .,08, M
1000., ,00.00
47000.. ,HR.4
10000 .. 90.00
12000.. ..98.91
2A000O . .1(0.00
4.1000.. ,,08.91
fit ono.... oo. oo
2000.... I) 8. 9H
03000.... 00. 00
40000.. ..08.94
1000.... 98.94
6000.... 9 8. 91
6000.... 9 8. 90
4000.. ..98.92
C000....0 8.IO
13000.. . .98.91
38000... .08.99
4000.... 9 8. 91
14000. ...08.94
1 0000... 9 8.91
L'SLibertylstls
3O00O.... 07. M
ltOOO.,., 97.00
2000..,. 0(1 .90
.10000.... 90. 99
2000.. .97.01
1000.., .97.04
10000.. ..07.01
7000.,.. 0 7.04
10000.... 9 7. 01
2000.. ..0 7.01
2000.... 07. 01
66000.... 9 7.02
9000.... 0 7.00
1000.. ..9 7.01
rjSIJbertyid 4
80000.... 97.00
36000.... 07. oe
6000.... 9 7. 04
13000.... 07. 01
66000..,, 0 7. 00
26000.... 0fl.ll
31000,, .,00,91
6000.. .00.94
14000.. ..90.91
36000.... 9 5,94
20000.... 9 0. 92
32000..,. 00. 94
10OO.,.. 00.91
1000.. ..96.94
83000.... 90 .92
1000... .00.94
37000.... 00. 9J
62000.... 0 0. 94
6000.... 9 0.92
1300O.. ..90.11
58000.... OO. 94
60000.... 0 6. 91
11000.... 98.14
20000.... 00.92
.14000.... 0 6.94
7 "OOO.... 9 0.91
16000.... 96.99
12000.. . .08.91
38000.. ..06.94
15000.... 0 0.911
68000.... 0tl.9
43000.... 0 8.94
80000.. ..9 6,92
11000.. ..90.94
nooo.... oe.91
10000.... 07. 00
1917.
$2,967,000
259,218,000
Bonds.
43000.... 00.99
16000.... 0 0.91
13000.. .,06.91
11000.. ..08.91
21000., ..0(1.94
6000.... OO. 94
17000 ...06.91
361000.. ,06.91
3000.... 9 7. 00
36000.... 06. 91
6000.,,, 9 7. 00
20000 ...0 6.91
I60OO0. 97.00
23000.. 07.01
A000,... O7.00
10000.. ..97.02
20000.... 9 7. 04
100000., .97.01
1000. ..97.04
108000.,. 0 7. 01
10000.... 0 7.04
1916.
$4,140,000
250,665,000
S80O0....07.M
10OO... .97.01)
1000.... 97. 04
76000.... 0 7.01
61000.... 0 7.00
49000.,.. 0 7. 02
61000.. ..97.00
10000.. ..96.91
1000.. ..0 0.91
16000.. .,0O.9
10.1000... 0 7. 00
4000,.,. 9 6. 91
10OO.,.. O7.00
128000. ..9 0.99
37000.... 0 0.11
3 13 OOO.... 9 6.94
U 8 2s ref
1000 07U
Railroad, Industrial, Foraiajn Gorrnmant and Othar Bondt.
Am Forn Bee Is
2000 9 0
1000 9.II4
6O00 O.Vn
r.ooo 9. Ma
Anii) French os
a 1 000 1)0
2IO0O... ,0()1r
5000. ,
11000...
70O0...
600 .
11000...
2000, .
3000...
600...
90
91)18
00
.90
9 0)8
Ul)
.noij
French Hep 14s
4000 O.'ilg
11000 0,1 It
2000 ....039,
i uy or Bor
deaux Is
7000 88
SOOO BOlg
1000 an
AOOO 8OI4
i ny or Mar
aeiUesOa 16000 .. 86
1000 86
.1ty of Lyons U
sooo..., HH
1000 .. 86I9
City of Paris 0
isooo. 8;
000. , 8'!lj
10000
1000
2000.
lt'OO
4000f..
8 2
8UI4
8 til
Bills
8:
Ttro Weak Rlaterw.
Studebaker a'nd Sinclair Oil dipped to
new low levels on further offerings of
Mocks, though thero was nothing new
In either company to account for the
pressuro. Their action nerves to Illus
trate that the market forms Its own
opinion of a company's affairs, no
matter how the officials of that company
may view Insldo conditions. It ha.s
been denied repeatedly that there Is
anything In the Stislebaker Company to j
warrant the decllno of tho stock, and
Sinclair Oil Interests have been equally
positive about tho remarkable strength
of its financial position. Rut the stocks
refuse to bel'ovo It, as their new low
prices of Monday testify.
VnltedKlncilm
4ll9l9neir
64000... 0 011
260OO 9 07,,
10000. ...99 IS
."OOO. ,.100
3000. . .0 87,
tls 1119
30O0 9 61,
2000 06lt
1000 Ofl 1b
2000 00 It
S'yl 1921
SOOO. ., .9 HI.
4000 9.11s
0000 9:11,
6000... ,03U
Kep of Cuba Is
tfOI
1000 .9013
United King Is
OOOtl UH'S
2000 08S4
10OO 0 87s
3.1000 0819
.1000. ...0 876
Hum Canada Is
Ml
1000 0OU
Kit
1000 03
1JI
3000. . 9014
6000 0 01s
Chlneselioi-t as
3000 00
N Y State 4V
2000. ,.IOOU
NY City 4i.s M
1UOO 80
NY City 4s 41
10000 961,
10000 O0I4
NY City 4la 44
16000 O0I4
AmsraeltilTt Is
I0OO.,.. 8(1 St
0000 87
Ain Tift T rtt Is
1000.... 82
SOOO ....8 3
Am T, T ell 3
1000 9 1
Armour 4) is
1000. . s:t
20000 821
2000 8Ua
A TrtS F en 4.
lOOO .. 801,
6000 .. SOU
AT S F adj I
M .unpen
1000 v :i
2000 7 37,
Ate l.luerlt 4
3000 724
Baiuaonlo IHs
2000 8 634
BUH 1991
3000 ...,80.1a
Baltao eold 4s
USX) 77U
Hetn stl Is 11-34
6000 80
2000 ....7 914
Ban Hap Tr Is
1911
8000 OOI4
B A O ev 4Hs
6000 7 6 I
Brad en Cop la
1000 03
Cen (la cn 1
1000 8 734
Cen Leather la
1000 0 384
Cent KB NJ la
1000. ..1031,
Cnea A Ohio Is
3000 9 Ola
2000 96
OitOcriKl
2000 80
1000 8OI4
2000 80lg
10000 80
C A O CV 4s
1000 7l8
aooo ...,7a
C BAQ Joint 41
1000 nvij
ftooo oaia
1000 ...ovia
6000 9 23s
2000 9illa
1000 oya,
Chi BAQ gm 44
1000 83
ChlAkastlll 4s
20000 25
Chi (It West 44
14000 ...,047s
Erie ev 4s ser A. NYAlrBr cr Is
9000 44
Erie gen Is
1000 01 la
Gen Electric la
6000 98a
Bud A M lilt
la Series A
1000 OS34
III Cen rf 9s M
1000 ....7 97n
IndlanaSteel 3s
2000 0 0
Int M Marine Is
3000 9034
1000 908s
tnterb R T ref
tm lltt
1000 701a
SOOO 701a
sooo HO
Iowa Cent 4.
1000 4 Ills
1000 43
Kan O S ref Is
3000 7 3la
Lack Stl te ill
1000... .03
Larlede Uas Ii
1000 0 61a
1000 0 7lj
1,8,9, MS a 1929
100U 82
Ltsxett A M 7s
O M A Ht l fll 1 2000. ..1 10
4'ja Linett A II Is
1000 6 8 2000.... 00
ChlRlAPref 4s SOOO 80
3000.... 63?4 I (Ml A Nsah 4a
ChlAWIna4s toiX) 831a
2000. (1 31a f I A .V A KA C 4
1000 6 0 1000 7 4
Chile Copper Ts Mtlw Oas 1st Is
3000... 104 ."000 837
ChlleCopper u Minn A BtL 4s
part paid
1000 76
5000 7 07g
4000 7 834
Col So ext 44
1000 80
1000 60
Con riaa cv Is
4000.. .100
Dei F.d Is 1W1
1000.... OftH
Detroit Un 4U,
2000 7 21a
Distillers Sec I,
3000 8 2
1000 421a
Mo K el Tex 2d
1000 ,...28
Mo Pac Is 1923
1000 005.
Mo Pac gm 4a
1000 3 61a
Mont l'wr M
1000 8 8l
3000 8,81a
N Y Cen deb Is
7000 0 278
2000 0 2"u
NY Cen LS lls
3000 O6I4
2UUO. ... U4
1000 ...,991a
NYNI1A1I 4aM
2000 30lg
MY Rys adj Is
3000 18
NYTelgm4s
2000 87"4
4000 87U
NorthernPaels
.1001) 80
1000 80
Northern Pao Is
6(X)0. . ,0 7lg
2000 3 7
3000 3 7U
O-SkortLtns as
1000. .101
OrSbort Line Is
6000 9 694
Or Hh L fdg 4s
2000 8 2
2000 8214
Pac Tel ATM
1000 ....9 1
Pennagm 4 Ha A
3000 8 08
Penna IHs 111)
1000 06la
Fere Marq Is A
2000 808
P lyorttlard Ut
10000.... 8 72
1000 ...88
Pub Serr Corp
of N J Is
2000 sola
Head ju etc 4
2U00 Sli
Rt LA8an Fran
Series A
2000 3 07,
7000 3 7
1000.... 37
St, 1x9 San Fran
series H
1000 ...0034
8 1 Louis SW 1st
20O0... .1)684
1000 6 6
Sinclair Oil 7s
1000 86I4
5000 .. .851,
warrants
2000 ,...88'a
6000. .. ,87lj
0000 ....87
South Pac ct Is
South Pte ev 4a
3000 767B
3000 ....76
SoutbPac ref is
1000 7 7
8000. . .77
Southern By 19
1000 0 I la
South Ry I'm 44
4000 flo-is
10000 8 01 4
8000 ooia
SoulhRf StL 4s
1000 6 3
Texas Co ev ts
1000 98U
Tot A O Con 1st
2000 93
UnlonPaclflc la
1000.. ...8 334
UnlonPaiiref 4s
.1000 7 0
3000 787j
6000 78U
rsitcaltyAI Is
3000 40
U H Rubber Is
1000 7 8
GERMANY'S HOPES
ARE BEING WASTED
National City Brink's April
Circnlar Points Out Som
Interesting' Conditions.
MILITARY POWER FAILS
Xo Pence Until Purposes fui'
Which United States En
tered War Are Realized.
1000.,
1000..
1000..
3000..
1000..
1000..
..77"8
..78
. . 7 7'8
..78
..777s
7 7-14
USHinelllim Ci
1000..., 93
U S Hteei sf ts
10000 0 8
0000 0 7 7g
1000. ...PH
Utah Power Is
1000 8II3
Virginian R it
3000 80
1000 80-l
I Wabash 1st
1000. ... h.hi
11 abash ad
1000. ...8 6
WesternElee Is
1000 0 0
WeetPaclflc 1st
1000. ...82
West Union 4!s
4000 83
2000 8 2
Wis Central 4s
1000. . .7 Ha
12000 OHsiWIisjait Cols
South Pac 4a 1000.... Ofllj
11000 72Ul 1000 931a
Infernal Loaning; Taxable.
Many phases of tho 12 tax on tho
borrowing and lending of stocks were
not clear to traders at tho opening of
business Monday, and discussion arose
whether or not the law covers the lend
ing of stoclis by a hroker to a customer
when the broker holds the stock In his
own office. This is so indefinite that it
called forth a special ruling by the
Stock Exchange authorities, holding that
such a transaction is the same as any
other borrowing operation and that tho
borrower wilt have to pay the $2 tax
wherever the stock coinea from. Of
course tho heaviest burden falls on the
short seller, for he will have to pay 12
when ho borrow and another 12 when
he returns the stock.
Extra Tax May Restrict Trading.
Traders accept the latest tax regula
tion as one of the fortune of war, but
it nevertheless Is disturbing In that It
will make for even duller sessions than
have obtained recently. This mjy not
seem possible, considering tho very thin
markets the Street has experienced the
past few months, but with auch heavy
charges levied against short selling it
will be unprofitable for any extensive
operations on tho short side. There Is
no disposition to criticise the measure,
and an far as It will tend to prevent
so-called vlclotm raiding it in a ery
welcome proposition, for It Is of far
greater advantage to the Street and the
entire country to have a dull market
than wide o,en speculation on the bear
side. Hut thl high premium on selling
stocks removes one of the market's
safety lalvcs in that a short Interest
of the right proportion Is always a har
rier against a wlJo open break. And
coming on top of tho trying week e.
perlencod since the German drive started
it took about all tho pep out of the
market
f s. fiurt r.onda.
?. rea-l.tereii
... CnUHll
J". rrgl-.li red
coupon
3, registered. lfHI.
3s, coupon, 1149
4a, rrglatereil
., coupon
Ze, Panama,
2a, Panama
3a, Panama,
3. Panama
BID AND ASKED QUOTATIONS
Pid.Aske.1.
April!, March..
Bid.Aakrd. lild.Aaked. 1 nt ,r Cor 13
Ji4 wia do pf 40
reglatered,
coupon....
reglatered.
coupon....
. 7i.
. 94
,. H4
,. SO
. 0
.10414
.1041,
,. w,
. M'l
,. 10
,. 10
9i
1064
Mi
Closing prices of stories
were no transactions yesterday:
Bid.Asked
as
SO
144 10l4
1041, .,
taii ..
j6i, ..
so
so
which there
, M'a
, 421.
74
W
Silver Prlees and Rupees,
In dlscuoslng the evgltatlon to melt
the $200,000,000 of silver dollars held
by the Treasury Department. th Na
tional City Bank observes that "tho sil
ver 1 wanted partly for out' own eoln
atre, partly to settle our trade balance
and partly to reliovo the general trade
situation with India, Tho latter coun
try Is selling Its wheat, cotton, burlap
and other products at prices so high
that it has very large balances com
ing to it, which must be settled either In
gold or silver. One dollar per ounce
for silver is above the India, coinage
rate, but exchange rates are still ab
normal, and nobody pays much atten
tion to them when goods are wanted as
they are now. It Is a curious situation
when a coin Is rated higher for the bull
ion It contains than for Its legal tender
value, but that Is the c.use with the
'upee.'
Oil Prices May He lllglier.
Higher oil prices may yet develop
under the necessity of stimulating
greater production, according to A. (i.
Bedford of the Ietroleum War Service
Committee, who reviewed the present
situation In an address beforo a West
ern convention of oil men ns follows:
"Producers, reflnern and distributors
seem a unit In their desire and deter
mination to ses that an adequate supply
of oil Is forthcoming, and I bellevo that
with tho wtno policy which has ben
adopted by Mark L. llequa, Oil Admin
istrator, some of tho uncertainties and
disturbing elements which havo Inspired
the feeling of hesitation and uncertainty
have been removed and we can go for
ward. No higher prices should be paid
for crude than Is necessary to etlmu
late production, and no higher prices
should bo anked for refined products
than sua reasonable. Tho situation as I
see It Is this: Trices must bo liberal
enough to Insure tho full activity and
the necessary development of the oil In
dustry, but there must not bo any runa
way prices. So long as the Industry ob.
eorves these general principles, I do not
believe any arbitrary price fixing will be
ne.'.-Hsary, and tho fairness shown In
adjusting prices In tho past will bo our
Advance It. 11V
do pi.,...
A A Chem.
do pf. ..
A Ok .Note.
do pf ...
Am II Htisr.
do pf....
A Bk Shoe. ..
do pf... . 163
Am Can pf. ti
Am C r pf.109
A Citiea pf. ..
Am Coal..., 43
Am Cot Oil So;
do pf 70
Am H li L. i:
do pf M
Am lee... . Ii4
do pf . .. 41
Am Inter... 2
Am Lind pf 71
Am le pf, si
Am Ship. . 91
do pf ...
Am Snuff...
do pf. .. . so
Am Suit pf. 1(414
ASumTobpf f
Am Tnb ..152
do pf.. , . sp,
A wool pf.. n:
Am W P pf t2
Am Zinc.... 13
do pf . . 4t
A Dry Gd. 10
do lt pf. ..
do td pf "6
Asaeta Ileal
Aaoiia (Ml
At TnpaVbF. M
do pf.. .. 104
At litr I A 1
At Cna.t L. Wi
Bsld Ioe pf 91
Barrett pf...li
BstopiU, .. 14
11ech Crk.. .
llelh Steel.. 73
do pf. S9
Ban L'n Oaa 73
Prown Shoo e:'j
do pf. . . W
Hrunevick . r,
Huff It P 75
to pf . i
Burns Bros.l'il
(In pf . 110
r.ueli Term. .
H-lttenck... 9
Ol Pac . S',
Cal lv-trol.. 13V,
do pf . ..43
Cal & Ariz C3
Can South.. 42
Cor Clinch., .,
do pf
Bid Asked.
kO
CO
3.1
154
, 4)
i:'a Case pf,
2S Cent Fdr nf 41
53 C Leath pf.lui
'. CUB, of XJ.i-J
35 C So A T..'.i,7'i
4i I Chi A Alt.. S
7:. ilo pf
97 'Cht & MY., 'jl
M ! do pf, 13)
191 C (it West . C'.i
M I do pf 2,1
117U C St 1' O 70
Vi I do pf 110
I CCCaSIL pf :?i
314 ' ClerftPitts.. .
M C Peabody,. M
1!' do Pf
57 I Col Fuel!. 37
114 , Col A SO... 19i
tl'j , do lt pf. tr.
M 1 do Sd pf.. 43
It Comp Tab.. 31
too Con Cal'an., 1
M Con G of B tu
K'i Cent Can... M
54 do pf. ..Vt
10O Con Inaur.. 4.1
109 Cn Pd K pf 94
V) iCrexCaipet SS
134 Cru Stl pf.. S7'i
9-3 Cuba Cn... is
..414 I do pf... ' 7;t
;s ' Cub A Sur.li.'S
I do pf... . :i
47 Del & Hiid.0-.4
n , 1) L W., 170
t) ' Deere pf ... s&Vi
' I A Rio Gr 4
ii do pf . . 7'j
r. Del Edi.on.101',
S3 Det & Mack )
!2 do pf . .. 73
Det United.
91 Dill S S A A V,
inn do pf. . . 3
102 Klec Stor . . 47
4 Elk Horn F 2Si,
II do pf 33
Si Erie 3d pf.. 20
94 F.rtcAlItt,.. .
M I Fed MASS
64 da pf . .1.)
94 Fiaher B pf Tfin
7 (,.-n Clieni. .PV
ST, 1 do pf. . it',
1 17 Gen Cuare 41
i:;', 1 do pf ..
' Coodnrh .. 41
97 do pf. .. fl
10 Grat.bv .
4ia (Julf MAN 7
14 do Pf . .27
43 Gulf Steel.. )
us do let pf. M
M Hartman. .. 17
M Harv NJ pf.iiv)
to Homestake.
Int-B Con.
Int Nick pf f:
Int Paper.. 29li
ao pi
do pt at.
int salt. ..
Iowa Cent.,
Island Crk..
Jen el Tea.,
do pf
Kan C 8...,
do pf
KCai'ts nf 45
Kel Sp Tire 4P,
do pf 71
Kel Whe-J.. :i
1 Kto i I) M :
1 do pf
Kress H H.. D.t
I do pf Wi
Kincs Co E f:
, Laeloii 4; as so
Lake E A W 9,
do pf .... 14
L-e Tire.. . IJ
' l.high Yal 3S
I Ltg A My, .161
1 do nf 101
1M ' Lonllard....lM
1144 I do pf 1(4
S3. IxioaeAV 1 p 1114
.4 ' do M pf.. ti
10 J J-ou & Naa 1131,
jvtaunattan. 91
Mackay ... 73
Man Beach. I
May Dpt St 41
. do pf ....MJ
Maxwell. . ::.Vi
' do :d pf,. 19
Midi Cen.. h.",
MAStL new SV
MStPASSM S3
do pf 100
do 1. L
IS
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t,:,H
97
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, 24
M
CO
11;
Bid Al.ed.
PeorU A E 4
Pei-MiU....
do pf., .
Pierce A p
PlttAIYVa..
Phi) a Co...
PCCASIL...
Pitt CI PL.
ntirtvtac. ..
Pitt Stl pf. w
Pr Stl Car. C
do pt 91
V.'
131
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61
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ISO
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I MoKIYT pf. i'i
1 .uon row., s
I do 'pf 94
MorrJa E ..
1 NasiiCAStl.lui
' Nat Blectllt W.
NalCik.VS.. (?
do pf. ...101
Nat F. A S. 47U
do pf . 93
Nat Ixi pf ICKli,
NllofM 1 pf .
do tU pf.. f,
NOTex&M 17',
N Y Air B 1:1
NYCAtL . n
do 1st pf 4 1
do 2d pf 4:
NYDoek pf 4:
N Y L A IV. ,
N Y O A IV. M
Norfolk So i
Norf ti IV .iftl
do pf .. . 1,1
North Am. 45
N V Tel.
Ohio 4"lt f) ?4
Ohio Fuel , 4
OwensilAM :i
do pf. ...lcsi.
Pa.- Co.ist n
do 1st pf m
do sd pf . f3
Pac Mail...
do pf ,...101
Pa- TAT. 2.)
do pf ... sii,
Pan Am pf 1
PereM p et 80
lud
irV4 , mo erv...ioi
Ui Pull Pal C.U3
RyStl?p pf. 9
Rep Stl pf. 9t'i
Royal Dut.. 7
Read 1st pf r.44
do Id pf. 344
Say Arm... 6S
Saxon Mot. 7
Scab Air L 7;
do pf .. H
Seara Roeb.144
do pf ....Hi
Sloa.-Shef.. CI
do pf. ... so
stLASV pf. 20
St L S IV.. 1
do tit .... 23
SoPortn.'Sug 130
do pf 103
Stand Mill. 91i
do pf 74
Pints Mot . 41 U
Studebk pt i
Sup Stl pf. V14
Texae Pac. 1,1
do L T.. 1:1
Third Ave.. l.M,
TidewaterO.lM
Tob Pro pf SI
TolStLAW.. 2
ilo pf H
do ct ... 3
do pf ct S'i
Trana A- IV S-iV
mi I Twin City. CI
'0 do pf
Underwood Tisi
do pf ...pi
rn Pac pf 71
;r rcitsi. pn.v
1 n Aliov . S"j
1 I'll llrur
do !t pf. 4
do :,1 pf . 77'i
n s Kxp ..14
l'n Fruit, rs
1 l'n Ry Inv. r.
, ilo pf .... 11
USCatlPipe IJ
do pf.. .. 40
rsinAi- pf .
rsRltyilm. 1
. r S Ruhber f4t-i
I rsmelt pf 41',
I t'SSteel pf.1W.l-,
Utah See .. 1:4
Va I C A M
Weils Far . 71
Weeth. 1 pf A!
IV Md " pf M
' M'et Pac . 13
IV A L V. . U
i'o pf '1
, WII,in pf f.'
I Willy. O f -V,
, Wia Cen .. SS
Woolwnrth. l'.n,
do pf IIT'-j
Worthni . r
1 do pf A.. H
' do pf B . t.114
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That Germany's hops for a pesce that
will a-lve her access to raw materials
for her industries and markets for her
products had better bs sbandoned, slr.cp
she Is wasting her armies for a decision
that will never come. Is the loading
opinion expresred In the Nstlon.il c.tv
Hank's April circular Issued to-h)
"These wants will not be eatjfld bv
any campaign Germany can make !u
franee," saj-s the hank, "The only f'.
feet will ho to deepen the 1 dilution nf
the United States, quicken the rermltmc
of Its armies and Its shipyards sr.d
stimulate tho concentration of Its ener
gies, while the bonds between the al
lied nations and all the peoples o' the
Americas and Asia will grow stronger"
The bank believes that the (iermr.i
military power will not be able to d1
tate the terms of peace so long n the
United States and Great Britain com
insnd tho seas, and discusses the cut
loo't ss follows :
"If the worst should happen and the
Hermans should succro, in dr!lr
wedra between tho French and Fran
li.h armies, and even In estshllshln,
their superiority on land for a time, they
would ho st 111 a long wsy from a posi
tion where they could dictate a pear tn
suit their ambitions, for command o'
the sea would remain with tha Unite I
States and Great Britain. Triers will
no peace, no matter what occurs on th..
continent of Europe, until the ptirpo.ei
for which the United States entered tV
war are realised. They will be resided
not alone because the people of th
United States will stand Immovably fa
thom, hut because the whole world out
ride of Germany and her three slllei
will stand for then
German World Trnda.
"Thn5e purposes do pot lno'.e h.
subjtctlon of the German nation or i'r
exclusion from opportunity in tho n-o-M
eif trade and Industry : that has been suf
flcler.tly reiterated. They call for thi
vindication of certain principles of pub
lie right which were violated by the ult
matutn to Serbia, by the attack vpo,
Belgium, and by the violation of neuir.i
lights upon tho high seas. The wor!
outride of the offending nations is one !
Us Judgment upon these nets, and tl"
German military rower will never die
tate the terms of peace, though l.e
armies should sweep Uuropa to tl
shores of every sea. The United ,t"iti
can live withes.it Germany, and, If nc
be, even without Kuropo: but 'lemur,;,
will know no peaco or world Intercmirs
or prOFpeilty at home with tho German
name detected In half of Kuropo and a!1
the rest of the world. She will have to
ficnil her war chiefs to tho rear before
she finds peace "
Tho batik a. 30 sounds an optimis"
note regarding general business eoml
tims. saying that "sentiment In all
clcs Is buoyant and confldont aa to V
outlook for business during the j. -Money
Is in strong demand and on pm--
-.cally a pet- cent, basis in all Ui" im
portant financial centres of th" oi'ini"
Loans and discounts have remain, ,1
about 011 n lave for the last th-ee
months except f.ir the Increased ho'd ri
ot Treasury certificates.
SIiottb Stlmnlna of ffprlngr.
"General trade is showing tho rtimu.s
of spring, and there is a groat son?o rf
relief over the passing of tho most see-e
winter tho country has known in nianv
veats. Tho railways are reducing the
congestion, and moving a volume e"
freight much above normal, hut there .
ctill much complaint of car s'lortage,
wlilch is the form any la k of faclliti'"
final. y takes to "he shipper. Th clu '
waivs of the l.-tllnuys are for lo'c,
lives ai.,1 eiilarKed terminals.
"Industrial operations arc again l'l f , 1
swing with lh'" whipbtillding comparle
abvntblm.' labor on a large scale. t
Mc-el companies Inve made another '5
per cent. Hdvaneo in the wages nf con
limn labor, making a total of over s3
per cent, since the beginning of the war
Building operations are light except In
(onnectlon with the war Industrie", but
retail trade Is on a great nle, w'fi a
general report that high prices are hav
ing but slight effect upon the moveme-1
of goods and that the ben cla.sj of g"11" 1
are most wanted. The textile mil's .ts
running to capacity nnd tho urgent ,
mand for their products maintain- pi e.
.it a 1'Rtidsoine margin over 0, en 1
( present hlstli price of i.w cottnr "
EX DIVIDEND TABLE.
90Vi I -S04
1
Er dividend
hard up Uncle. He rules that If a specu
lator or Investor wins, his profits shall
he added to his general income ; while
If he loseu, his losses cannot be sub
tracted fiom his general Income. As
suming that $2,000,000,000 was won and
J3 000.000,000 loxt In securities la.st year.
Uncle Sam takes perhaps one-third of
the profit", but makes no allowances for
losses. The average trader finds It hard
enough to win when ho has only tho
brokers' commissions and stock taxes to
pay. His chances of winning are greatly
diminished since Uncle Sam camo to
Wall Street
Wall Street In
Incidentally tho goose that lays tho Inter Petrolenm Co
golden eggs Is being strangled." I National Transit Co..
.ew- jora Transit Co
STANDARD OIL ISSTOS.
-Vnclo An-erican oil Co. 1;
Atlantic Rertnlnj Co. . 9f,
Borne. Srrrmsrr t'o 4.10
Hticleje P I, Cn, . . . SJ
("hcehrmich Mfc. Col, 310
(Vnonlai 1 1,1 Co 10
Continental Oil Co 4
descent P L Co 30
Cumberland r I., Inc., lli
Kurela p j, j,,
iiaiena-signal Oil Co... 133
Apill 1 llarell ro
A'ke,I. Hid Asled,
That's ono reason why , 1'1f11",1,-,,.-T' 011 co pf im
i dull and Is getting duller. , jjX?. V Sb:"-- 'g
Brooklyn Rapid Transit,
Stoi-Wiolders of tho Brooklyn Rapid
Transit Company hav" been formally ad
vised of tho action taken by the board of
directors on February 28, approving the
recommendation of the executlvo com
mittee to postpone action on tho quar
terly dividend, regularly payable April 1.
until pending negotiations regarding re
funding of tho company's J57.733.000
secured gold notes, due July 1, nro settled.
To INamei Hallroad Treasurer.
Uncle flam Urate Wall Street.
Pennsylvania Crats Oil Market,
On. Citt, Pa,. April 1. Credit balances,
(4. Ttnns, S07.073 ; average, S4.208.
Shipments, C7.6I2; average, 47,414),
Washington, April 1. A railroad ad
ministration' treasurer will bo appointed
within a, few days to havo charge of the
ISOO.ono.ooo revolving .fund and the
Ifirrlng sums f om roads having tem
porary excesies of free operatl-m fund
"Unc'.e Wain enmo to Wail ret this to rosds needing money, lie also will Vm Iir.i.
week," said a hrokfr, "lie took no ailniln'. tor other financial heln nrnroved .
ciiances, no made tils own rulce. They liy Director-General McAdoo and rl
nro 'heads I win and tails you lose,' both nanco Director Williams.
for traders and brokers. Ho holds up
the winners and make them disgorge a
largo part of their galna, smd then pro
ceeds to tap the kitty. When ha departed
April 1 pickings were rJIm. The old
maxim. 'It's a poor rule that does not
work both ways," does not go with our
14
1:4
Northern Pipe Line Co, !!
(hlo oil Co I 2j5
Peun Mex Fuel 4)
Pleri-n Oil Corp ft
Prairie O A 0 Co 4V.
I'ralrle p I, Co ,. .,
Solar Itemilng Co 2-5
Soiilhcni P I, Co 151
South Penn Oil Co im
S W Penn Pipe Lines... 92
Standard Oil of Cal.... tM
Standard oil of led.. . Ml
Standard Oil of Kan,... 4Sn
Standard Oil of Ky , .. ill.',
Staudapl Oil of Nfh., , 4',
Standard Oil of N J.... IV)
Standanl Oil of N y
Standard Oil of Ohio... 573
Swan a Finch Co or,
Union Tank Line Co,,,. 93
Vacuum Oil Co si;,
Washington Oil Co ;5
St Oil subs "en Mee"iM4
St Oil eld tk "all on", 1910
124
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To. day
Dlstlllera Seeiirlttea Corp
HI. tillers Securities Corp ex(
lllllette Hfetv Hasor extra.
Jones Hro Tea
Southern Ualh.y pf
Wednesday
. Illinois Hrlck
, Maple Laf Milling
j Maids Leaf Milling extra ...
Maple Leaf Mllunu pf
I Thursda; - -
lYeailnghmi.e HI Mfp . ..
, VV-n; 'n;lioue UI tfn pf ....
! )ld-
, Vmericin I.oeoniotiie pf
IM Te.l nf I'cnna . .
Central .t; S011M1 An-e- TV. .
Delaware, Lack A West
Hotrolt Iron A fleet
Detroit Iron .1. SUeel extra....
Detroit Iron ,t- Steel pf
ilrent Northern H F.
t.orlllnrd, P. Co latncl.l
I'nlted Alloy Steel
United Verde KM Mln
United Yerdo V7xt Mln extra..
U S Smelt At lief
V S Smelt Si Iter pf
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Vm. VVrlncer Co . q, l,'i M.11. 30 .Vr- '
Am. Wringer Co., pf,
l"4e-, .Mar so Ar
Arkan.as Lt. A Pow, Co
nf. u. 1. e,;
Colorado Fuel & Iron Co,
pi, 4.
Crea.on Cona. Gold Ming. A
.1111 m 11
aagia l.e
r.r , 1 1. r.
F. It. I.ove'.l ' A Co
Arr, 10 At r
:o m. Ife Mar. SO Ar" 1 '
Load Pencil Co,
liiCi, inr. 4 Ar- '
Pf, Q.
. . . Mar :a Apr
STEEL AND ORDNANCE STOCKS.
Minneapolis Grain Market,
Minneapolis, April 1. Corn No. 3 yel
low. tl.r,S1.60. Oats No. .1 while 87 81
sSS4c. Klotir. higher; In carload lots, !.b s. 9
standard. ,9.05 a barrtl. Bran, 33.H. d'u p p'w.jm
1
A B Mfc Pf y
Atlas Pn 1S4
Atlas Pow- pf ',
Ili,a1 4 V,1 ..113
Blisa, V. W. .rs
HUM. B M" pf 75
Can F A F . .140.
Carii Steel.. . sr,
t arn isit 1 pi in
11 d. Atk ii ,)
1 l.vnein Steel
' Kmp Sli A 1 w
3D Kni, S K I pf t'
1,4 Here I 'oh- . .17
Heic TViw pf 1. 1
116 Hop-Allen
4 Hop-AIIen pf.
W'NIIes-II P , I"
IfONllea B P pf
tti'Penn S Steel n
H'Seovlll Mfr 4,'.
K7iTbom.is Iron 1.
fSiWiiich It A., "as
252 iVoolwnr-J Ir to
A li
tl
241
nr.
IM
43
4..V
fir.
CSIohn Oil Co. m 1 l.".. . . . Aur .411 VI
Glnha Oil '.), pl 1 . . ..Apr 30 Ml
lli'.'crcat Cotllerie.. rf, g,
ls,, Ma- 53 4f' '
Il'ieard Cin'.th Paper Mill-.
pf. g. '. , e Vr' 10 A-'
Inter Nickel Co . pf, q
l'l'', pr '5 Vt-
In., r t,KA. , ,
'I, t'j'e .rr
Mln'il copper Co . q i. 5ls 1
I (,i! l-'u.-i supp Co . i.
i -i.e. xi . r a i
Phlla ft Csmden I'etry Co,
n . t".
Msr 31 ,v;
n
Sixth
Ave.' Hit ', "q" 1 '71. '.Mar 39
,r. ui,, n
United Drug Co., 1st pf. n
1 '
VV H MelV-rnlu Co. c
I's-i . ... .
W. H McK nil Co , !
pf T Pi1".
W II Xr.1'lnoln n I
Apr IS
,1'tr 13
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vr
Mm
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Pf, 1, 14 Apr IS M

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