The Brooklyn Daily Eagle from Brooklyn, New York • Page 21

THE BROOKLYN DAILY EAGLE. JTEW YORK. SUNDAY; "MAY TRl ST COMIWMKS. TKl'ST tOJH'AMliS. TRIS'I IOMPA.MES.

FOREIGN EXCHANGE ships of special build, are moving for-I ward to France with fair speed, and the war offices are using motor cars instead of horses in every manner Improvement in Sentiment and Quotations Due to Large Cold Arrivals. Iamilton Trust Company 189-191 MONTAGUE STREET Capital and Surplus over $1,500,000 TRUSTEES possible, effecting numerous changes in methods of transportation of artillery and supplies from the methods which prevailed in the early campaigns. The Standard Oil of New Jersey and the Atlantic Refining Company are among the companies which have within the past few days advanced the domestic prices of gasoline. The following is a report of Standard OH transactions during the past would be this matter of exchange. At all events, the situation cannot be much more acute than it is, and by improving it now, even at the expense of adding to the pressure in the fall, the London banks have little to lose and much to gain.

One af the reasons that the idea of bringing out British Government securities in this market has been abandoned has been the comparative lack of success with other foreign government loans. The recent issue of one-year 5 per cent. Treasury notes of France have not gone as well as it was expected they would, and even now, some five or six weeks after the public was asked to subscribe, there remains an unsold balance with tho bankers said to be in the neighborhood of $16,000,000, Recently prices for these notes have depreciated materially, as have also prices for other ftovernment obligations, notably the $10,000,000 nine-month issue of German notes. Bankers who would be likely to have tho burden of underwriting new issues thrust upon them are not apt to go out of their way looking for business of this sort, at least until those issues now being offered are entirely marketed. week: Net PAVID T.

BUTOKER FREDEIIICK H. POUCH KVERSLKH CHILDS FRANK SttLIJVAN FWTTn OEORGE HADDEN FREDERICK H. ECKFR WI1LARD EDMIPTTTR JVUVi B. DAVENPORT CHARLES KKATOB JOHN ANDERSON F.DTVIN A. AMES FUEUERICK H.

WT5BSTm DANIEL J. CRBBM H. C. FOLOER JR. CHA3.

J. McDERMOTT FRED B. DALZEU. WIIJ.TAM BETtnt l-HARLES COOi-KR JOHX C. McOUIP.B IIE.VRT S.

WHITNIT JOHN R. HEOKMAM WALTER C. HI'MSTONB JOHN N. EZRA D. BUSHNBLL.

Low. Last, ch-ga STOCKS. Bharrt. Hi(h. Convenience of Location contributing to the rapid transaction of business is of vital importance to a financial institution.

At Montague and Clinton Streets this Company (with its new building rapidly nearing completion) is in the center of Brooklyn's financial district convenient to business nd professional men and to the Downtown and Heights sections. At Bedford Avenue and Fulton Street it is convenient to Uptown business men and to the large Bedford district. At Wall Street and Broadway its Manhattan office is in the center of the financial district. Its three offices rendering similar service may be used by its customers as bestuits their convenience. Inquiries are invited Brooklyn Trust Company Act Executor, Administrator, Traitee, Onardlan and ConanatttM.

Interest on Check Accounts, ipoetal Rates on Time Oenoalta. The Improvement in the foreign exchange market during the past week, an improvement more noticeable In sentiment than in quoted rates, was largely due to two important develop- ments. One of these was the discovery that several large banking houses, including J. P. Morgan have been bringing in gold quietly and storing it in this city.

The amount generally spoken of was in excess of an amount which just about checks up the known sales by the Bank of England. Incidentally, a belief has sprung up that tho firms which brought in- the yellow metal B.WKS. mm Anslo-Am. OIL. SOOO 17H 16M 1K- Atlantic It 556 855 Buckeye Pipe L.

lOSX 100K 100J4- C'hesebrouih Mf 1 7-0 7UO 720 ffl) Orescent Pipe 3 3 31) 3tt Cumberland Pip. 'JO 46 45 48 3 Eureka Pipe 36 2'Jtt iUS 1 42 l.isx IL3 155 Illinois Pipe 13(1 127 120 -1 Indiana Pipe 10 M5 D.i 05 -1 Inter. Petroleum 5800 8H 85a- National Transit 200 31i 3U 30 N. Y. 8 210 207 207 2 Northern Pipe 10 8 118 08 3 Ohio Oil 147 138 1.17 138 Pierce Oil 403 12 12 12J Prairie OIliGaa 1-4 3 J0 300 308 South Penn 21 278 271 273 Southw.P.P.Un.

20 8 18 ll 8 1 Southern Pipe 22 210 207 207 2 Stand. Oil 24.1 283 273 273 10 Sttuid.OU 25 418 412 412 -4 Stajid.Oll (Kan.) 8 340 3145 333 -2 Stand.OII (N.Y.) 140 i5 lea 182 I Stand.OU (N.J.l 4 7 400 Ulltl -3 Sland.Oll (Ohlo 4 425 424 424 -3 Union Tank 34 0 7H to Vacuum Oil 36 205 203 203 3 Chartered lofiu 0 i KINGS COUNTY TRUST COMPANY 342, 344 346 FULTON ST. Capital, $500,000 SURPLUS AND nAf UNDIVIDED PROFITS UUU JULIAN D. FAIRCHILD, President. Main Office STANDARD OIL STOCKS 177 Montague Street The Nassau National Bank of Brooklyn Court St, Cor.

Joralemon St Capital $1,000,000 Surplus (earned) $1,000,000 This Eiak is ready at all times to meet promptly and liberally the requirefnests ef its custodiers as determined by the char-cler of iheir busmen, financial reipoasi bility and banic balair-e. MEMBER NEW YORK CLEARING HOUSE Little Interest Displayed in Se-curities But Oil Fields Are Active. i Vice Prsafi. JULIAN P. FAlnrHII.D, W1U.IAM HARKNKSS, D.

W. MoWILLIAMS, WILLIAM J. WASO.N rjgj Fulton St. and Bedford J' jSjaj'ljJ 'f ''jfft' fXyj Wall Street and Broadway Profit. have been supportirg the sterling exchange market, placing what amounts to a dead line on the rate for cable transfers to London at a point directly under 4.79.

The other development of importance came to light when the fact that the great joint stock banks of London had been establishing credits with their correspondent banks In this city was uncovered, This was announced in The Eagle on Tuesday last, and was subsequently commented on widely. The establishment of these credita has not as yet taker, on the character of a concerted action between the banks of London and New York. To date, transactions of this sort have been matters of individual negotiation, with the banks of the two financial centers act rnOMAB BLAKB. HOWARD D. JOOST.

J. NORMAN CARPENTER, R.prsUry Ass1! sc'y Trust Officer Standard Oil shares have not shown MEMBER FEDERAL RESERVE BANK THE CURB STOCKS Interest Allowed on Account Subject to Cheek. Special Rate on Certificates of Deposit sucn a iacK or animation for some time, such as shown during the past week on the Curb. Dealings were bo small at times that only about a half Amrican Zinc and N. Y.

Transportation the Strong Features. CORN EXCHANGE BANK I JEW YORK Capital anil $10,000,000 i BROOKLYN BR A Vf III, a I Brnosl.Tn Brourh Court and Joralcnwn 8ta. I Platbnsh Are. nraimli 111 21 Flnthu-h Asa, Oreenpolnt Branch. A Manhattan Ave.

Myrtle Aye. Myrtle Are. and B'iraj Booth Brooklyn Brine T9 Hamilton Art. FINANCIAL. LAWYERS T1TI.B Till ST COM PAS If Trust and RHnklna: liepartment, 44 Court Street.

Tide Deparlment. iss Montague Ptraet. Trsncarls a general banking and trust bust. npsa. offers its customers every facility consistent nlth g'jod banking.

Attention la espe. clally called to our interest-hearing Certificates nf Deposit tor funds temporarily Idle. dozen of the prominent shares were dealt in in a single session, and even at these times the amount of sales were of small proportion. Price changes throughout the entire week were almost entirely without interest owing to the unresponsiveness to the Curb stocks during the past week! FIRST MORTGAGES I SAFE DEPOSIT IIOXIOS Ft) REST. were less active than they have been Sreac pmnyjiortH, pause for some time past, as a whole, owing while" A I to the failure of the German answer WORLD'S COPPKR TRADE.

LOCAL STOCKS AND BONDS to the American, note to materialize, Due to the almost general dullness of the market, prices, after an early ad Still hold finl place with comervatia in vet ton. TAX EXEMPT Amount! from $1,000 to $25,000. Payment guaranteed by us. Interest set Nome title The following table shown the last bid and asked prices, the amount outstanding and the Interest or dividend of the leadlnff local securities: vance, oecame irregular, snowing Dtit little change from the close of the pre vious week. TN VESTMENT in a market of tj, A uncertainty and widely fluctuat-X ing values it a matter requiring careful thought and study.

Our interest-bearing tertifitates of deposit provide, a temporary and profitable use for funds awaiting jj permanent investment. You are invited to confer with our Officers upon this and other financial matters. Amount Here and there the market interest Security. ing independently, but in banking circles here it is said that in all probability, a movement will be started in the very near future which will result in a comprehensive credit arrangement being arrived at. The arrangement between the joint stock banks of London and the large national and State banks here, it is thought, will take the place of the proposed British Government credit in this country.

During the week it was learned that all negotiations between local bankers and the British Government have been cancelled and no issue of British securities is expected here for some time to come. It is highly probable that before the entire matter of international finance is adjusted, such an issue will have to be resorted to, but, at the same time, it is believed that nothing of this sort will be done for some months, and possibly not for a year or two. was accentuated by a sharp advance In some particular issue, but the move Eui-opcnii War Hus Srriously AlTeftcd Tntrrnatinnnl Shipments. Copper ia a commodity which has been affected in a mo3t important way from the breaking out of war. It is at the present time an absolute contraband of war, and an embargo has been placed upon its export from this country writes Consul General Robert P.

Skinner, London, under date of January 22. The state of this trado for the United Kingdom for December, li14, compared with Uie same month in IMS. and for whole of KM 3 and 1014 is given in the following table: IM POUTS. December. ment, at best, was only temporary.

At oirrrir lm St- T. urrn.ES Po office Bulldlnc. Jamaica. Capital, Surplus ft Profit. Oyer $1,000,00 RAILROAUS.

Bkln. Rap. Transit B. R. T.

1st Hold. B. R. T. 1st ref.

R. T. Notes. Bkln. L'n.

El, 1st. 1st m. B.Q.C. S. 1st e.m.

B. 1ft m. Sea Beach 1st in these times the dealings in the particular issue would increase with its strength, but the animation shown was 74.5:0.1)00! 7.000.0001 40.000. 000 la. ooo.

oooi a.r.oo.oool IMO.OOOj 7.000.000 11.1, n.oooi 0.000 1 3. 900. 000 ooo.ooO' news of better business by the fading companies and the reports of Increasing prices for refined products. At the close prices were about steady at or near the level of the close of the previous week. More big wells and sales of oil properties are reported from the Cushing field of Oklahoma.

Texas continues to be looked upon longingly by oil men the country over, and while there may be a great deal of stock company promotion, big operators hold the better leases and are developing properties as rapidly as possible. The field Is now producing a daily average of 35,500 Barrels, with over barrels in the steel and Eastern storage held by the Texas Company, and the Sun Company. Of this amount, 1,220.000 barrels, are in steel tanks and 1,950,000 barrels in Eastern reserves. The Texas Company Is storing about 1,750,000 barrels In its new earthen tanks. The Farmers Petroleum Is running its production through Its new pipe line from the field to its own tank farm at East Houston, where it has three steel tanks and another of the same capacity under construction.

Advances in prices of gasoline de Ettabtiihad IMS Kin-rs Co. lt m. Is not a lasting character and was attributed largely to manipulation. America Zinc was one of the active features of the week and eariv sold 5. i I 17 99 101 lo: I 87 99'ijlOO 991, 100 B8 101 94 9.1 9s i 90 si 72 74 101 103 95 105 9 100 110: 99 jlOl 97 1 00 '173 I171 'Vi 92 i 91 97.

10P 80 ft 79 82 32 3.1 81 9'J I 99 1103 1 Elec Boat pf I lioldneld i Gr.t'ananea new Interbor con.wl. Interb cn pf I Int.Mer.Mr.ct.pf Int. MotTa Int. Motors pfd. I Inter.

I J. O. ini.i. 53. ifl Franklin Trail Company Main Office: 166 Montague B'klyn.

Fallen St. Office: 569 Fulton B'klyn. New Yerk Office: 46 Wall Street 2 Country. Iftlrj. inn T'nited States 3.41 7.

Tils Chile sua Australia 5.1;pl 1.374 uther countries 4.1M7 mi. a.HIJ 1.4.3 C8.II79 up to the highest price level that has been attained by the Issue since its advent upon the Curb. The increasing ooo. ooo price or zinc metal has been lurgeiy Totals inti.MS 1,0. 4456 Nassau Kl.

4 pc.pf. Nassau E. c. Nassau 1st N.V.C'ons. Ry.

Com. N.Y. Cons. Ry. pfd.

Atlantic Av. g. m. B. B.

W. E. 1st. H.B. W.E.

i. Hkn.C leased B.H. Bkii.Citv lMt. c. in.

N. Kl. 1st Bkn.i.'. N. 1st m.

Coney Isl. K- I'oney isl. B. 1st C. I.

B. on. m. I-Olig It. .14, IS! EX POUTS.

OerniHpy .) responsible for the advance in the price o( this Issue. At close, however, a good part of the early advance was lost. I became dull, and prices receded on the lack of demand thut was evident. Motor shares, automobile accessory shares jand other issues of this group were 1. :.000.000 2.

2.0(ti 42.41S.702; New York Transportation was an other of the features toward the close less active at the close than they have ana the price or this stock reached ai 100 100 100 3 IMS IT- IS, 03 1 28 3l 2 So'4 S4W 4 77 74 70'nl 5 5 5 ion mi 37 32 37 5 71- 75, -'2, ss 15. 1 11-32 1 K-16S-16 12(1 128 4 831, 82li 5 47, -l-16 23 2S 2- 1 13-16 13-16 13-161-16 .28 .31 .04 2 21-16 21-16-1-16 I0U 1414 10 J0'4 10 10W 7 OH H9- (.4 211-16 tit, 2K-1-16 111-16 A-M .37 1'i 71-10 7 3-103-16 3 3 16 3 31-101-16 102 UTS 10 VH i-H-'i lift 11H 114 9 37-16 3116 OH- 4, 4 4aj been recently, and the luck of trading Netherlands I 30 l.fH.i Beljrium 311 471 Kn'tlce 175 P2 5.S17 3.i.ft Italy ,110 Ilrlll-ll Kast. India 4 7 Other countries 103 HI Totals 306 14.907 7.J83 Exports of domestic copper, piss, from the Tniteri States during th? five months August-December, 1013 and 1014, are shown in the following table: 4.00h.000 1. R. It.

ref. 4s. Stelnuay R. 1st. new high level for the movement.

The J. C. McCrary.pl Kxt Kelly Tire Kelly Tire 1st pf Kerr Lake La Ruse Marconi of Manhat. Transit I McKinley-L I Mines ofAm.n'w I N. Y.

Transport I'yrene Mfg fiiker-Heseman. Sterling 1 Stewart reports of increased business of the 1 j1" 1 000 0070 100 I'M IU 07buo 105 lf.4 2100 ISO 200 000 870) 4700 4.11) 6800 17400 1425 4:160 MOO 18'HII) 1 1100 10 100 20800. 1870 025'J 4145 544'J extra. company and the expectation of KERRY i greater franchise privilege, which is ...1. Bkn.

Kerry Consols St. ".00. 000' exoected to be acted unon enrlv in tho snares were less prominent 1 .000.000 Bkln. livered at garages to 11c. are attributed by sellers to the great export demand.

Pounds coming month, was responsible for the continued upward movement of the price of the stock. near the close than they were in tho i previous week, when business in these i shares was extremely small in com-I parlson with other weeks. Prices be 191.1. Advices received in the last few Countries. Aualria-Hunffary tlelKium France N.

Y. Bkn. 1st Tenth 23.1 St loth A- 23.1 St. 1st C'nlon Kerry I t'nlon Ker. lt in.

N. V. E. I l.OOO.OilOi 1.000. 000' ir.o.ooo' 3, OOO.

000 1 TOO. 000! 750.000 days from various European agents indicate that the latest changes in the Whelan stocks were strong at the cause of the decrease In animation outset, but toward the close of the null 'war situation may increase the de England Borrowing at Home, The great banks of London are in very strong position, despite the extraordinary demands which have been made on the financial resources of the Kmpire. The London money market Is still as easy as our own, and this while rates about compare, indicates that there is vastly more money available in Lombard Street than in Wall Street. With conditions as they are at present there would be little point in the British Government borrowing in this market, as the government is able to do much better on short time loans at home than it could do here, even when it Is considered that the British have to pay the premium on exchange, which amounts to between 1 and 1 per cent. The banks of London, however, can, and, in fact, have borrowed here at as low as 3 per cent, ror four months.

Most of the credits granted to date have been for this period, with the loans carried by the local banks on open account. Four months, of course, will bring the date of maturity to around August, a time when the rate of exchange is usually more in favor of the United States than at any other time of the year, owing to the genera! appearance of grain bills in the market then. But this year many things may happen before August, and It easily be that the whole matter of credits between London and Xew York will have been adjusted by that time. If the United States should enter the war against Germany, probably one of the first things attended to Italy week recessions were scored from the 14.C98.:iS 107 Iil.ir-0.II1 67.r,H.7:'". 3.7?'.i: o6.r,:!'.i.o:'3 7.

SOU. 13.014.93' 2.048.191 3S.SV..6S4 17.61f.3'.8 102.022.497 34.Sli.2.',9 S. ..78. 013 3.730.191 N.Y. E.B.

lat m. misitrCua ec rs of Music 9 Amer. chicle .1 Anier. Chicle A. O.

T. of Bklyn.l Itlnntii- 1 lock I were somewhat lower and at the close fractional declines were shown in tho recently prominent shares. Bonds were tiuiet and steady. The following is a report of transactions in the principal issues traded in on the Curb during the past week: Net STOCKS. Sharts.

High. Low. Ist. ch'ne Netherlands Ruasio. In Europe l'nllcd Klngilom Cither Europe Canada other countries Totals Tonopah Merger Tonopah Tonopah I'nlted Cigar St.

U.Cig.rit.new pf. Sh.n.. World film Yukon Gold Wabash, w.l Wabash pf Aw.l Wabash pf .337.447. 501 :K.I93.;4; I Bond Morteaire. Hklyn.

Developm't SW 41 20' Sh 44. 21'i- 131, 45 2. hi Alaska 14l Amal. Cop. l' 1 1 92 i 97 1 92 10 I 15 40 I 45 S3 I 37 10 15 I 45 9 II 150 151 90 93 12 So 95 270 2S5 10 20 11 75 57 70 85 S7 H5 89 85" 100 110 .320 1330 1135 il02 il07 I 90 1 105 1130 150 85 75 185 I9 110 40 '3 10 101 1.1.1 llOS I i 1 2 mands to proportions little thought of a few months ago.

In the fighting on the eastern front immensa stores of gasoline were lost by the Russian forces in their retreat from the Carpathians, while on the western front the allied forces find the needs for gasoline increased by the scarcity of horses. Although the United States, Canada and the Argentine are still responding well to the call for horses, transportation of the animals to France is a serious problem. Only steamships of special construction are suitable to such trade, and tfiese vessels are now so scarce that the movement of the horses to destination is woefully far below the purchases made. Motor cars, not requiring steam. early high levels.

The issues were less active than they have been for some time owing to the lack of outside demand for the shares owing to the fear of unfavorable action upon the part of the Department of Justice at Washington upon the charge brought by the Independent Tobacco Dealers, who declare that the United Cigar Stores Company and affiliated companies are acting in restraint of trade. In the meanwhile, traders and outsiders are awaiting some disposition of the matter that has been before the department now for the past three weeks. The so-called war stocks showed some animation and strength in the early sessions, but toward the close of the week the market for these Issues BO.VDS. Amount. High.

Chile Copper 7s. 81000 114 West 1'ac. 15000 30 l.ov:. Last, ch'ge 113 114 20-a 3J -2 FKEK CH1CCK PLAX. Of the 479 banks that are members of the Xew York Federal Reserve Bank.

70 have registered their Intention of entering the free check collection plan of the reserve institution. The. collection system will be put in operation on June 1. Bkn. tart.

Deposit. Brooklyn Storage. Bush 'rvrm. coin Bush Terminal 4s. Bush Term.

1st is. Bush T. Bldirs Bush T. Bridge is. Hag-le 10.

Bliss K. W. Bliss pfd. K. W.

Bliss coii.ni I'lrst Mort. r'ranklin SBfe Uep Kilips Co. 16-W 4i 7 ism 111 16-16 18'1 11-16 6-16 78 41114 7 111 lui 13-111 16-16 111 I0-I6 6-16 82 7h 7)- Hi 10 13-16-1-16 1516-1-16 IS '( K-l-16 6-16 SO 44:150 110:1 1 1 low 1110 100 0000 2000 1080 Amer. Zinc Brarien Brit. Am.

Hrit.Am.Tob.n.. Buffalo Can. Copper Chile Copper Cons. Ar.snielt.n Cona. Electric .034.400 1.000.000 18 I.OOO.OOOj 6 100.0001.

ooo; 1.000.000 16 ooo. ooo 100.000 4 7.10.000! 2 4 I 223.000' 4 I.OOO.OOOj 6 010.000 7 1.000.000 400.000! 8 7411.3001 f.oo.ooo; a 100.000 10 2.M.100' a .000.000112 lOO.OOOj 5 r.oo.oooj 4 12 .1 47.0001 r. .000.000 11 loo. ooo; 7 "l914 WEEK'S RANGE IN MONEY ON CALL PER CENT. Open.

High, Date. May 21 Ruling Low. Last. rata. I', 2 2 I'h 2 1', 2 2 1 1 Lawyers MnrtKagel 1..

I. Snfe National I.lcorl.e. Nal. Licorice pfd. N.

Y. Dock Co. N.Y. Deck p.c. pf.

Y. Dock 1st llltB.i N. Mm. S- Sec. N.Y.

Tel. 1st 1U alt Associa tes. BALDWIN DIVIDEND POSTPONED! Philadelphia, May 20 The dlrec- tors of Baldwin Locomotive Works have declared the regular semi-annu- at dividend of 3 per cent, on the preferred slock, payable July 1 to I holders of record June 12. Action on the common dividend was postponed, I VI ay 21 I Slav 26. Mac 27 I Mav 28 REPORTS OF CLEARING HOUSE MEMBERS FOR WEEK ENDING SATURDAY, MAY 29TH, 1915.

11 May 29 llt l-4 Xuiliing said in call ir.oney today TIME MONEY. 60 to 90 days. 4, mos. Per cent. Per cent.

Tone Security Safe 1 extra April J. 9 3 a Hi i III 5 3 CLEAT. I NO HOCSE MKMHSF.S. II.I.l'M Ci Bkn. B.

ro. clas. .1 Bkn Bt.ro. ci. 5s.

25, 500 500, 3 May May Mav Mhv Mav May Stea-ly Stt-ady Slendy Eacy 17apy Easy PROHIBITS Oil. IMPORTS. Washington, May 20 -V cable from the United States Minister at The Hague -says: "The Netherlands Oversea Trust has forbidden the further importation of cottonseed oil in order Kill ok'I. v. (sen.

i Bkln. t'nion Oas. Kinss O. p'. K.

Co. E.I,. A- P.Ist UKKCANTILE PAPER, Single names. CO-90 daa. 4-ii mos.

to avoid an over supply. MEMBERS OF FEDERAL. RE-SEjBVE BA-N'K. Percent. Percent.

0(htrs. I 95 1110 90 1 1 00 95 99 125 ISO 121', 123 124 110', 113 1 1 ti 117 45 50 S9 94 95 100 87 87 ttl 98 ,102 9S 93 95 45 5a SO 75 99I5IIOI 95 1 00 .000 6 000 5 00(1 5 500g 000; 5 ooo! 900, It 0001 000: 11 ooo: 000 i 000' 5 000 4 0001 5 000, 5 000; 5 000 0001 4 000, 5 000 5 K.Co.E.L.- P.conv. I K. Co. E.I..

P.p.lll. I K. Co. conv. I K.

Co. K. Co. Light K. Co.

1.1st 5s. Edison con. inlge. LIVERPOOL COTTON HOLIDAY. Liverpool, May 20 There was no 17.998.

14.69s. 13. 355. 2.500. Dill.

5. ITS. 2.500. 3,000. 2.4 2 8, 750.

1.275. 264. 38, F.00. 1.250. 1.250.

Ton. Pteady Steady Sioa.iy Steady Sieady Mav Miv Mav Mav Mav May session of the Cotton Exchange here today. Business will not be resumed until Monday. 29 SaJ 3a I t.ltiaens c.as c. ni.

l'n H.n tlas c. Nassau X.Y. Q. E. L.

P. WfcUK'S FOREIGN EXCiJANGK. Pern and. 24 a4.7S'; N.V.fcy.E.L.5pcpf! N.Y.&-Q. ILL.

1st ni.l N. V. Q. clns 350. S1.

7S 7-1H 7i 7-ie Mav May Mav May Mnv 4.7'i 4.7 a4, 1 4.7S i.Vn a l.7fl 1.7S 4.73 New tissue. etra per annum. tl 7t.000 11.543.001) 1759.000 613.0OO $1,000 t1.WS.0m S10 (0 '4 1.218,000 238.000 1,316.000 IS.OilO tU.ik 1. 1193,000 1.94S.0.I0 7.9S1.C0O 4.9SS.0OI 10,000 0,792.0110 9I.C47.0O0 5.0O0.0WI 2:19 11i9.000 21r6.000 697,000 2S.l9S.lVR) 318.249,000 1,370,000 3. IG.l.

''01 29S9S.0O0 2.3SS.OOO 1.231.000 4,610.000 2,343,000 2S.703.0O0 171.000 419.000 S9'I 000 3S2.01IO- 119. OTO 19." 7Si.r0 9.337.010 19:19.000 52.000 40,0 1S1.00O 10,000 llll.iiOO l.N.69,000 10:1.00 7.7.6,0rtl) 2.730,000 1.311.000 2.122.010 169.000 23.00) .,770,000 fil.49t.0O.) 2.0::9.O0'1 4.2Ji.OOil 167 676 001) 12,325.000 8.006. Ortl 2,431.000 272,000 2S.00O 1 009. 000 111.369.000 l.l.Ol.il 3.8S7.-V10 26 713.000 1. 221.000 363,000 932.000 87.0110 63.001 ".171,000 28.176.0'V) 510.000 l.19.0iH 91 211.000 1 6.477.000 1.360.000 J.

731.000 23. (V10 50.010 7.62S.O0O 10t.SO.OnO 301.000 "4 "93 000 1.090.000 212.0HO 1.197.000 91 fiiVt 41.1KV) 1.3I6.V04 l.l.f' aw an.ooo 7.15.000 63. 101.000 2.000 s.s.'o.oio 111.0.11 nfl "40 0.) 1.691.0.S) 1,01. 0O0 121,000 1 ttt CM 229. too 10, 00.) 106 266'w) 7.806.A9O 2.91X.00O 4.212.000 263.000 jj' 0,10 3j7.O"0 S7.00O 41.000 160.000 171.0.V1 2.110.000 739.000 233,000 493.000 RIl.OOO 42.000 1 907.01 12.21.000 2T, 443,000 1.324.000 78.000 5.000 9 774,000 1:8.9 121.00.1 P.077.0nO 49,822.000 6.394.000 RW.OJ'ft 3.441.000 17.000 204.000 3 970.0.1.) '00 96R.i0O 4S.000 121.

0-90 117.00.) 100.01 9.000 art) O.llt.oon 200. 131.399.00) ll.e21,0Trfl 3.11W,0-)rt 2.9:11. 000 223.000 J43.0IW1 776.000 41.1.O0) ll.V.WI 949.00.1 199. flOn 199,0.16 1 05 000 l.flon 31. 'VM) 390.00'.

MJO.VO 613. 000 326.0.10 789,600 91.000 9,000 im 8 610.0.10 310.0O0 ist.ooo 103,000 S03or.o in.ono 337.0.10 4,037.001 41.10 rn.ooii 2.991. OtlO 1.193.000 2.343.000 90,000 21.000 i 3' 419,000 OY0OO 2.237.000 I.0"?.0O0 J.976.O0O 13.000 6.000 no.) 1.611.0.10 10.1.000 7310 000 763. 000 .124.000. "63.

"100 29.009 2,000 1-1 .100 7.4 8.000 399 r(vi 10 76" 000 298.009 IH.OOo tW.O'Vl 11000 7 '7 OOO 10 3'8 000 fi OO0 400 0.10 3 133,000 407.000 95.000 413.0O0 i.7,000 146 oon 7.673.0fo d.ooo 267. oco WO 2.173.200 lo.440.liOI) 1. H43.700 793.400 4.S13.100 lT.SIMOO 1.412,300 15.298.700 2. HM0O I. iM.SnO 7.727.0OA II, 320.001) SD.S00 J.ltS.SOft 22.aJt.tOO S.7M.100 1 MH.700 rWn.aon L24V1O0 405,400 2A10.100 2 9H 40rt Mi.

000 994.400 1,11,20 Pank of New Tork. N. B. A Merchant' National Bank Mech. Metals Nat.

Bank National city Bank Chemical National Merchants' Bxch. Nat. Bank Nat'l. Butchers i- Drovers Bank American Kxcb. Nat.

Bank National Bank of Commerce Chatham Phenlx Nat'l. Bank Hanover National Bank ritliena" Central Natl. Bank Market Fulton Nat. Importers Trader, Nat. Bank National Park Bank East River National Bank Second Notional Bank First National Bank 1.

Irving Nat onal Bank K. T. rounty Nat. Bank Chase National Bank Lincoln National Bank fiarnelil National Bank rffth National Bank Seaboard National Bank Llbertv National Bank and Iron Nat. Bank t'nlon F.vch.

National Bank Kaaaau Nat. Bank. Brooklyn S.00O.OO0 6.000,0(10 s.ooo.ooa 1. WiO.uA) 3W.0.JO S.OM.UOi) 2. 3.00O.M0 2.S.S0.OOO 1.600.00(1 C.O'AOiTO 1.0O0.0M 10,000,000 4 000.00) S.nno.OAO l.ooo.ono 1.000.00 l.ono.oo i.rtAft.ona l.flOO.OM 1,000,06) RESERVE STATEMENT SHOWS $2,000,000 LOSS Washington.

May 29 The statement of condition of the Federal Reserve system at the close of business 28. Surplus Last Report. TRUST CO S. Capital Last Report. shows a loss of about $2,000,000 in the CC JNTRY BANK PAPER GOOD FOR REDISCOUNT roadway Brooklyn II.

500. 00O 1.500.000 1 000.000, 1.000,000 500,000 4.000.000 1. HOO. 000 $S94. 597 8 3.3..1.038 20" 270.104 1.094.854 1 2 1.021.37S 1 2 2.1'..1.S04 20 5.0117.07 i 5 1.419.J90I2 10-.

000 1144 151 470 483 1 137 145 250 205 30.) KO0 115 10 280 70' SO 375,890 total resources. The statement follows: Resources. Gold coin and certificates. $243,640,000 Legal tender notes, silver certificates ami subsid r-Oifh. I'ranklin Hamilton Kings Co.

l.au vers Peoples Oueens 't itle cluar. OOO.OOO 1 20 iary coin 3I.0e3.IJIH) I 275.620,000 i Total Hills discounted and loans 1.009 5.00) 1 1 2.423.000 8,621.000 Maturities within 30 days Maturities within 60 days Other 14 10 I 1.121.SS5 10 1.10.4.11 5 I r.oo our ini f' 200,000 l.i.O't.ono r) c. 00.1 1 W.tVM) I.Oi 1'. Riue 3 681.000 1.115.00.1 W.Ooo 718.000 44.OO0 639.00.) 2.797.000 26.000 168.0O0 61 OOO 199.000 786.000 516.000 107,000 6,000.000 1.197.CO.) 115,000 R3.A0O 151.000 637. OOO 4.276.000 19.000 86.000 1.047.00.1 178.000 131.000 1,046.000 110.000 607,010 5T6 000 319.000 tl.74.001 67.000 33 1.

0)) I90.ft!0 8.000 60.000 1,414.000 57.0.V) 13.0.1O 83.000 72.000 91,000 203,000 "8. 000 U9.0('O 517.000 161.000 S. 4,80. OOO 3. 050.000 1.071.

OOO 388 000 147.nao 86VO00 9.747.009 29V 000 617.000 149,000 1.634. 0O0 317.000 2.147.0OO 1.115.0M 641.000 4 n.47 Art in.nfi.fvii l.iW. M. run i.s:.7,ivft raw 7 iw 31.200.000 23.4(8.000 10.171.000 1. Ail.

00) 1.9S1.0OO 11.970.000 69.897.000 8.50S.OOO 4 37.000 13.8:3.000 3,675.000 K. 675.000 12.936.000 4.3M.OOO 10.857.000 18 49,000 16,697,000 4.M2.I00 6.194.100 1.102,300 OOi.WO 4SJ.900 V.JJSOO HM.iOS S.2W.5IM 102.900 1.oi?,;oo 2.117. 00O 472. 100 STATIC BANKS. Sot Members of Federal neserve Fank.

Hank ef the Manhattan Co A Bank of America Oreenwleh Bank Pacific Bank P-ople'. Bank Metropolitan Bank Corn Exchange Bank Hoirery Bank Mn.nM German-American Bank Fifth Avenua Bank ino.aN) German Exchange Bank jnn.lW) Aermanla Bank nw.nm Hank of the Metropolis l.mm.nro TTMt Side Bank N. T. Produce Exch. Bank 1.0M.IVA State Bank l.Min.imn Security Bank I.000.6JO TRUST rOMPANIES.

Not Members of Federal Reserve Bank. 30,041,000 Total Investments banks: i Due from other federal rescrv 7.435.000 STATE BKS. Coney Island Corn Exch, 7 latbusli Homestead lltll.side Me. hanics Item in transit All other resources tin "The1 statempiit has also liecn made by Jiome bankets of our tllstriut tliat very little, if any, of the paper held by their banks is rlifrible for rediscount with the Federal Reserve Bank," says governor of the New York Federal Reserve Bank. "Those: bunkers who make this statement are liable to create the impression that this opinion is held Renerallv by member banks; but an examination of statements filed with us disclosed that only about SO banks out of our 480 members reported' that they had very little, if any, paper eligible for rediscount.

With these we have communicated in order to ascertain upon what theory their reports were based. By correspondence and personal interview with many of them we have satisfied (hem. as well as ourselves, that one-half or more of the paper they hold is eligible for rediscount. "The reports also disclosed that the banks outside of the t'ity of New York, which carry about Jill). 000, 000 of reserve deposits in our bank, claim to hold no less than $79,000,000 of eligible paper, and the banks of New York t'ity.

which have on deposit with ns $120,000,000, report 18,000,000 of eligible paper." I. 13.1(11.000 1 1100. ooo1 3.50(1.000 1 O0.IH10 ooo.ooo 1 00,000 l.oo.ooo 1,500, oooi S47.343 2 "'iXsSi' 8 50.2501 4 22. 200 4 791. 97 6 15.400 tl 1 22 0 320.1..1 10 472.

S04 10 rV. tVft 3 Coi.aift 10:. 'MO I ,176 1 300,217.000 1 Monluuk I North Side. i Total resources Liabilities. Capital paid in r.m 8,000 Brooklyn Trust 64.1SS.0OO Reserve deposits 292.050.000 Kedoral Reserve notes in I circulation I net liability) 10.021.000 1 All other liabilities 3.118.000 I Net Surplus ue.

AM'K C'O'S. I I-uct I-t I Ilpirt. FuT-p hVn Vx. 4 1 3 i "71 1 188 OOO 10. OOO 4.5.000 S.OOO 123 000 1,666.

OOO 124.000 148,000 11S.00O lOl.flr.O 142.000 275.000 80.0)0 131 82,000 1.349.606 13.H7.0O0 2.758.000 1.475,000 18.464.000 469.000 1.119.000 3.337.6O0 1.184.000 3.096.000 793.600 601. Ono 2.192.000 1. 125.000 I7.9I7.0Dfl 153. 4511,000 43.960.000 22 752.000 37097.000 S50.448.OO0 8.539.000 21.294.0OO 62. 767.000 17.693.000 46,497,000 16.416.0OO 10.171.001 40.410.910 11.

244,000 3,311.666 12.816.400 4.26VSOO 1.107.900 11.606.000 22.727.90O 1.304.200 6.067.700 7.811.100 1 419.300 11.619.100 1. 090.90O 126.60O 108.400 994.600 1.500.000 10.000.001 2.000.000 1,250,600 6,000.000 10,000,000 1. 6O0.000 4.000. OOO 5.000.000 1.0.W.0OI) 3.060.009 1.000,000 1.000,009 2.000.000 1.500.000 Bankera Trust Co tt. 9).

Mortgage Trust Astor Trust Co Title Ojuarsntee Trust Guaranty Trust Co Fidelity Trust Co Twyer Title Trust Co Columbia Trust Company Teoplea Truat Co New York Trust Co Franklin Trust Co Lincoln Trust Co Metropolitan Trust Co BroedD'Oy Trust Co 74.i 4. 00.1 4,1 (101 4. fl'Vl oftn 44.noo "l.ins fk 7 "1. ir.n. iwn 44.407.IV1 11.517 WW.

S7 'A- (Vl i.i.r.rt.oivi ni 11 1 Vlf. fi 1 nxs.iw. ikOA 1 i ICO rtV 402,000 101.000 313.000 134.000 169.000 2.818,000 111,000 77.000 611.000 302.000 51.000 145.000 591.000 924,000 582.000 152.001, Oflo" 16,9:8.000 6.332.000 114,663,000 141,000 136.000 106. .100 210.000 612.000 30.0r,n 289.00.1 243.000 9.000 97.000 47. Aon 339000 2.496.000 8.OR3.00n ttia.cno If.

I :01 nit Hnnif i N. Tltifl, I thl T. limir.j Tfilf-OSii! 'Vmh'R C.tyi Flitrk. extra 8.000 62.000 26.0A9 69.010 2.000 16.00ft 9,000 "tl. 434.000" 6.000 214.000 0AA iTt't vri H333.000 1151.000 Total liabilities 360,247.000 Gold reserve against net liabilities, 82,4 per cent.

Cash reserve against net liabilities, 93.3 per cent. Cash reserve against liabilities after setting asWle 40 per cent. Gold reserve against net amount of Federal Reserve notes in circulation. KARMNGS. iVft" Chicago Great Western.

Totsls: Members Fed. Reserve bank.tl12.6oo.0i)) Totela: Members State banks 16.41O.O0O Totals: Members trust companies 46.250.000 $179,710. mr) 11,394.301,000 32.924,600 250.88.0flO 91. 220. 1O0 7S2.220.000 tvi4.224,000 tt9.222.000 33 "6 000 12.314.000 52.824.

000 aj OOO l290.3'W7ono IIJ86O0O I HOPri Uff. 427, R3S 7 ViO Oftl 7M.o)fi Aggregate. 61 membera. 3175,301.000 1303.914.700 Tlilrrl neck From 1 12.827.345.001) 316,000 337 8S0 ooo tws.ooo Comparisons 05. 3 per cent.

I. weekly reiuina of the Federnl Reserve Rank Aa ner official reports. 29 National, May 1. 1915. 17 Sine, March 19, 1915, 15 Truat March 19, Th following tabls givos a summary of tt Fvitem inue Us inauguration: 1S15.

fDeerease. tTnerefts. ACTUAL CONDITION YESTERDAY tl.il. Ml) $US7rt0 i.t(V 1M.0O0 .141918 oao "77 781. OOO 1 17,7.

Mfl fi.011.lVH Date May F.MIXRKS THIS WKKK. Commercial failures this week In the L'nited States, as reported by R. G. Dun are 385 against 430 last week, 412 the preceding week and 332 the corresponding week last year. Failures in Canada, number 42 against 44 last week, t2 the preceding week and 32 last year.

Of failures this week in the United States, 133 were in the Fast. 102 South, 85 West and 65 In the rarlfle States, and 137 reported liabilities of $5,000 or more against 140 last week. Liabilities of commercial failures reported thus far for May are $10,652,1 33, compared with $21,261,184 for the same period last year. 311 819 0.10 3. 000 114.129.000 313'' 000 (8717.000 X.W f'lV j-.

siiv, t1.00, 981.003 251. 067.000 785,431,000 12.437.319 600 S6. 8lembera Fed. Befen-a Lank. Membera Ptafe banks Totall: Membera trust Aggregate.

61 members C'imparlsonj Decrease. vTncreaso. MT.mv, ooo J.3-,7, 14.. Mnv Mav May April April April April AVERAGE RESERVES Tli, reovi)r(1 on net -imnd April enerve In Ttej. require on tin time Mar.

deport tuM. :6... 19,., 12.. rifMf, Vsniher- F1e-a1 T2eerve bank: rash reaervO silate banlra: Cash reserve in vault Trust companies: reserve In ll.aon,n'n 7. ift.ooo Ties.

req. on net HeniRnl tlm Hen. on net dnuind ain.iss.twfl Flea, required on net demand depotlti. c.ji&i.aod Oo'dOanh r- reservt serva Rediscounts. Deposits.

Clprulatlon. ratio. f3.t.V.U0O 4 10, O'O 3 TftvOrto 34 4 n.is7."0n 9 36. 7 SOt.S.T.'.u ll.o,lS,0'K 4 8 sm C04.r.4.o. 10.7R7.OO0 70 2 84.0 294, 041'.

10.44!'. 0.K) 00. 2 33 9.: r.p.'.ofM si 90 rt.osj.. no is.s;t.fl 91 0 f.4N.0V fl sss.oi-ii.oot) 7 :S7.ss.'i.iH) fl. :v.2.fh4 xh 1 t1 ft.

"28. ''00 Sfi.ti 1 i7 97 9 17.090,0041 4. 186,00" 11. 1 M.4 i :4.i..i,i-oft 3.0"i.0' a i.o 1 lS.SSS.'W 2.27S,i100 96. 2St.l!';..00'l 1.913.

''On .1 12.442.fVn 1 7 1 1 207. ciN i.s:,4.vn) 5 3 sr 249.7fiS.) S.ST.irtt fl 7 I 'l fj 9.043.OW 3.s;,fi.0-0 92 8 102 1 10.2'7.0ftt 2.V-. 9.7. 003 U2. 9.S44.iVio 000 90 0 103 4 2.7oo o-fl 91 14 6.6O7.O0O 1,213.000 89 IQaJ tl J9 ltS.011 1.2.10 00 640,000 M4.W4.OttO 7 lo.nnu 27.V06.ntift 23.40,000 246, DDO.

Ol'D 24R.iiflfl.OO0 S.iS.rto-- 2W.6v!.0f)0 259.W.010 SSS.L'TS.ono 208,410,000 Kxcess, 777,8,0 S6. sai.o-o 34.CJI.OOO jii.r.lS.ooo 30.01 S.0O0 :s.o9'.0))ii 21.603.ii00 20 ooo 29.Sfi7.0OO 22. 117.000 1S.747.1M lfl.L'L.000 17. 000 2a.47R.OOi) 32.020.000 34.n000 37,338, 27S.t;.V. ti-nl 234.746.000 H67.ti!i4.0o Ui.W .000 linn.

26. 'll ail 2fls.6''i:,,0'''0 277 0f0 281.4195. (KM) 21.373. iW LT.S.77.'0- Cri5.4?.'" 2.315100 2.WJ.)0 242. 470 OOft UP, 723, 000 Mar.

Mar. ilar. l-b. 1-eb. Feb.

Fb. Jan. Jan. Jan. Tflttii! Cash reserve.

In Jin crease. llno.fiM.OOO Total net deposits ACTUAL RESERVES Tta. rsnilrO on net damand r.sa on net time Ttas. ran. on nat daman'1 X- tlm flan, $287.

199.70 Tts, r.oulra.1 on nst r1ntnanl rlppo'tta. Rss. reiiulrerl on net demand deposits. 89.881. 2S0 RAILROAD KARXIXCS, Gross earnings of the t'nited States Railroads making weekly re-tntirns to Uun's Review continue in moderate volume, the total of all roads reporting to dote for three weeks in May amounting to a decrease of 3.3 per cent, as compared- with the corresponding period a year a.

sarro tn dpoa1tarl. 1117. 410, oao 7.99X.OOO 27.90.1.000 Derrea 8148. tt.000. 89S.

A00 OOO ,000 fr, 840.270 787.JV9 Hx-'esa, 88 2, 02.S24 16 i 81 24 4 28 11 Jan. D4N3. DM. DC. Dec.

Dec. Nov. No. Mmhr rederil Reserve bnlc: reserv In vault tite MnK-: reen-o fn vau't Trii-t companies: Cash reierva In vault Vuli: Cash reterva In vault lincrtaso, 4 Total net deposits Excess, 10.