Newspaper Page Text
ifl3Ps*E**g-a-z '? ?-??-~??-?? "" ? ?'
Executor Trustee
Chartered 1822
i
The Farmers' Loan and Trust Company
Nos. 16, 18, 20 & 22 William Street
Brauch Office, 475 Fifth Avenue
At Forty-first Street
New York
London .Paris
Foreign Exchange
Administrator Guardian
Mefnber Federal fipser^ SyBtem and Now York Clearing Ho uso
All France
Is Your Security
Throughout her history h ranee has shown a marvelous
capacity lor economic and industrial expansion.
'I"hrift is a national trait, and to a people so constituted
thr payment of its financial obligations is a matter of
paramount concern.
Even after the terrible disaster of 1870-71, when to
the world France seemed definitely crushed, this won?
derful country not only paid its war indemnities and
obligations in one-quarter of the time demanded, but
in forty years had become one of the richest nations
per capita on earth.
Nov.- Prance emerges a victor, her rich long-lost prov?
inces restored. French Government war loan? at pres?
ent exchange rates offer speculative inducements.
Further particulars on request for Circular No. H-60
6HANDCER& Company
4MCOAPORAT>?
35 Pine Street New York
Philadelphia Boston Baltimore New Haven
^ 1111 h 11111 <? 11111111111111111 f 111 m 111111111111111111111111111111111111111111111 ixijm. 111 r 111111 >.
j $y2 Per Cent. ?
[ GUARANTEED |
1 First Mortgage Certificates ?
= Free from Personal Taxation =
5 Secured by First Mortgage on Improved New York City Property ?
3 Issued in Amounts of $100 and Upward E
? Legal Investments for Trust Funds. S
= Send for Booklet 7 \ =
I Guaranteed as to PRINCIPAL and INTEREST i
I hy 1
? New York Title and Mortgage Company |
? (Capital and Surplus $4,000,000) =
"~ 135 Broadway. Manhattan 203 Montague St., Brooklyn ~
? Telephon* 95H0 Rector Telephone 7100 Main ?S
? 375 Fulton St., Jamaica ?
~ l'lione Jamaica 316. ~
| American Trust Company, Depositary |
r Broadway at Cedar Street, New York City. ~
7111 i M ! H U H M1111M ! 11FI ! 1111111U111111 f 1U i 11 i 11111M11111 ! 1111M ! 111111MI lit IM11111 ! 11111 i I iT
Our pamphlet entitled
'A New investment Era'*
is now available and may bo
had upon request
John Burnham & Co.
41 South La Salle Street
CHICAGO
i Molds German War Bonds
Good Delivery Here
' Court Kules Securities Bought
?Before U. S. Entered War
Must lie Accepted
In a decision handed down yesterday
'he Appellate Division of the state ,
,?-jpreme Court in this city sustained
the contention of the banking firm of
Zimmerman ?Kr Forshay that (?erman
war bonds sold, deliverable upon their
? ?rival in this country, are a valid '?
?livery, notwithstanding the fact
: t'iat more than three years had elapsed
I s'nci the contract of purchase and sale
. wta entered into.
The decision was the outcome of an i
i nction brought by Samuel Erdreich :
_ against the bankers. This case was'
> jrtid bpfore a judge and jury, with the
*??Su!t ttiat tne cornP'8int was dismissed
jftd a judgment rendered in favor of :
?mmcrman & Forshay. Upon appeal
to the Appellate Term of the Supreme |
% Court the jud<gment of dismissal was
revetted, and it was held that under
*"* terms of the contract the bonds
*"*re deliverable only within a reason?
a?le time after the making of the con- .
?r?ct, and that to wait until the war
?Ws over might compel a purchaser of
,"ie bonds to wait thirty years, more
??2 lees, which was held unreasonable,
?^id therefore the purchased was en
r,t!ed to a refund of the money he had
??id for the bonds.
?An application was made to the Ap
iJMlate Division of the Supreme Court ?
to review the decision of the Appellate ?
iv'?rm. This application was granted i
' *Wd argument was held some weeks
?Nft>. The decision rendered yesterday
'.??tains the contention of the bankers
th?t they had the right to retain the
mon*j? paid for the German war bonds
a"d ^o make delivery of the bonds
upon their arrival from the other side.
Commenting on the decision rendered
yesterday, ?i representative of the I
banking tirm said:
"The decision holds that contracts
entered into between American citizens
for the purchase of German war bonds
when entered into before the United :
States entered the war were not in?
validated by our entry into the war,
but were only suspended during the
period of the war, and that the bonds
thus purchased could be legally de- .
liviered by the seller when the war wa?
over.''
Australian Furs Up in London
Advances of from 16 to 200 per cent
in Australian furs were noted at the
offering of these goods in the London
sale by C. M. Lampson & Co. this
week. Cables received yesterday by
Alfred Fraser, American representa?
tive of the London tirm, reported the
following advances compared with last
October's prices: Australian opossum,
35 per cent; ringtail opossum, 50 per
cent; red fox, 15 per cent; wallaby,
silvery dark side, Tusmanian and Vic?
torian, CO per cent; rock wallaby, 150
per cent; silvery light wallaby, 200
per cent, and wallaby for tanners' use,
even more.
Consolidated Gas Plans to
Issue $15,000,000 Securities
An application has been made by tho
Consolidated Gas Company to the Pub
lice Service Commission for authority
to issue 115,000,000 in securities, the
proceeds of which are to be used for
the purchase of certain issues to be
made by various subsidiary companies
in order to repay the parent company
for advances made during past years.
The company in its application re?
serves the right to announce whether it
.ntends to isaue stocks, bonds, notes or
other evidences of indebtedness.
The Day's Bond Market
U. S. Government
Transactions
Sale
Liberty 3Vis. 1047. y?:!.".?"1"
?lo 1st 4s, 1947. ' ' ! '. 136,000
?lo 2d 4s, 19.12. 205.000
Ho 1st 4%.?, 1947 177 000
do 2d 4%s. 1<14'.;. i 2 229.1.
<t<> ?"<! 4%a, 1928. .!!. 2?569.000
do 4th 4>4h, 1938. ., 5,041,000
% i.-tory 4-\s, 1923 " 107 oilO
<lo S?!?. 192::. ...'.'.'.'. 2.144,000
I Con Gn.q rvt. 7s
when ?gRiictl
D91
1 SO
1.9(5
8,000. ^^^^^
1(1,000. . . !?'.':'<
?"?"I?.100
34.000. 999
I ? .???ni.99-5
. loo
1,000.
.Norfolk & \V
1.000. .
?'Nor Pncifl?
;:,?too
41,000
? 3,000
) do 3b
! 5,000
4-?
74%
30
.. h
7*
Quotation?
High.
98.22
91.26
!!("> 20
91.52
90.ML
Low.
97.71
91.10
89.98
91.30
89.96
92. SS
9H.0O
9T.82
97.82
Last..
97.71
91.12
90.00
91.52
90.10
93.00
90.16
97.90
Chge
Liberty 3 >-f ??
do 1st 4i.
do 2d 4s.
do 1st 4%
I <i<> 2d 4U1
do 3d 4%a_93.08
do 4th 4V4?_90.60
Victory l\s. 97.96
do aSjs. 97.94
Bid and Asked Quotations
Closing Closing
Liberty loans. Yesterday. Monda
3%f), 1947. 97.705) 97.76
1st 4s, 15*47... 91.12? 91.1*
: I'd 4b, 1942_89.94? 90.00
1st I1,-?. 1947.. 91.30? 91.53
2d -1'is. 1942.. 90.06(5 90.10
, 3d 4'4-;, 1928. . 92.98(3 93.00
; 4th 4ii?, 1938. 90.12? 90.16
Vic 4%s, 1923 97.84? 97.!'?)
.1?-.
.16
,06
.24
.?'4
.44
.08
;>8.30
91.32
90.16
91.46 1
90.30<?i
93.00 (i
90.56 1
97.84? 97.90
les :
. .100% ?101
..100%?101
.. 89 iff 92
,..89 ? 92
. .105%? I11?"-.
. ..105-u? 106Vj
@101
10.34
1 ; 04
10.60
17.98
94? 97.98
.100
.100
?101
?1101
@101
? 90
?Vr 90
S 95
@ B5
? 95
10014 5 lot
100%Cd 101
89 ??! 92
89 h 92
loo-i*? 106*4
vw\ a lOttvS
V 101
IS 101
V 101
:,, LOI
?i? 9 1
i??n
100
lull
100
1 do 3fts, 1922
Pre-war issue
? 2* reg, "30.
2s coop, '30..
3a reg, '16. . .
! 2s coup. '46. .
4 h reg, '25,..
j 4? coup. '25..
j 2s Pan, c. '36
: 2m l'an, r, '36
? 2s Pan. c, '38.. .100
2s Pun, r, '38...100
I 3s Pnn, reg;. 83
i 3s Pan, coup. ... HS
j Phil 4s, '34. 90
do 4s, '33. 90
? do 4s, '36. 90
? ? ::.... ?*.-,.. 9?
j Foreign Govt. sind Municipal Bond
(Interest To Re Added)
Bid
Anglo-French Extern 5s, 1920..
I Argentine Intern 5<\ 1945. 71:
Canada, Dom of, notes, 1921 .. "'.
do 5s, 1921.
do 1926.
j do 1929.
do 1931.
; Chinese Gov Hu K-. !i
Cuba Extern 5? . 1944. 91
do 5s. Series A. 1949.86
do 41/i.s, 194!?. 75
Dominican Rep 5s, 1968. 70
City of Lyons 15-yr 6s, 192,4... 90
City of Marseilles 15-yr 6s, 1934 90
City of Rordenu?: 15-yr fis. 1921
French, Paris City fis. 1921...
Jap Gov 4l-js, sterling In. 192?
do 4Vl-s, 2d serios, 1925.
do Is. sterling loan, 1931...
Jap. Tokio City 5s. 1952.
U K G H & I 5-yr 5^3, 1021.
<\o 2-yr S's-s, 1922.
do 10-yr 6%s, 1929.
(\o 20-yr 6Vas, 1937.
' . ? ico Ext strl 5s oi '99. 1945
Me- ico Ext golil Is of '0 1, 1954
(.Sales)
9.1
9:;'
1951
9O :i!
895?
(',9'.
? 95
? 9d
<ii 95
A ked,
,'!
??<
" ' V
9 ,
94
.N2:^
86%
'"' ". ?
90J?
90'I
71
7 I '? i
..i -,t
5SV?
94 U
!? ". ''..
lk'io-Frenrb
G7.000. . .
3 ('?"?o .
95 '
Jap 1st
15,000
900
204,000. 95V
2,000. 95 va
14,000. 95%
40,000. 95y5
9,000. ..... 95W,
12,000. 9.Vf
Argentine Q 5s
2,000. 74
Chinese Ry i>s
26,000. 46
City of Bordeaux 6s
10,000. 90%
City of Copenhagen
5 Via
3,000. 80 !~.
2.00". 80%
City of Marseilles fis
10,000. 90%
City of I';?ris 6a
- 000. 901
5 000 '?"?
18,000. 901
1,000. 90
City of Tokio 5s
10.000. 5S
Dom Canada 6 Vis
notes 1921
5 000 . 97e
10.000. 98
1,000. 98?
do 5V?s 1929
6,000. 94
do 5s 1921
5 o?io... 97'
iio 5s 1931
5,000. 91 ?
Jap 1st ser ?'-s
? ,000.
do 2? ser 4 '??
,". 000. .
' 000.
10.1.
TI'.,
71V
71
1 I,..'. . . .
;: (.
2,000 . . .
? stig loan '
2,000. . . .
IS
00
Rep ol Cuba 5s I'.-'U
4,0' 0. . ..921
- U K of Great Britain
1 & I 51 js 1921
* ? . .., 941.;
do
.0'
30,000_
30,000. . . .
50,000. . . .
'. 1.000....
.", 000.
10,000.. .
3,000. . . .
2,000. . . .
1,000. , . .
12,000 .
18,000. . .
Railway,
Am A g Cii cvt
16,000_
Am Cotton Oil 5s
5,000. 8J
Am Smelting 5s
1,000. 84
2,000. 82
Am T & T cvt 6a
7 1 : .
? T1f<
? ? ' L's
. . 71'i
Other
5 s :?
. . 98U
1,000
11?,000. ,
2.000. .
7,000..
6,000. .
L',000. .
2,000. ,
5,'OOO. ,
do col 5s
2.000.
99
98%
98 V
98%
98% '
98%
4,, 000.
. ,00 I 92 ,
l.OOi ??::'
?jtf)l '
1,060! :'"'.
lo 5'..s :;?;::
2,000, ... 87%
1 .1. ?7 '-..
1.000.. \>,
8,000 S, ?.
2,000. 87
: ,000. . S7%"
5,000. R7Vj
2,000.
1,1. S7!...
: ? . 871.4
Corf ?oration s
?'- & O Ken 4 Us
'?''. rsu
2,000... .
1,. 7:,''
1.000 ; .',
cvt 4Vjs
1,000 ".'.
2.000 7-1,
1-.""-' ;;:
<fc Alton 3 ' ! -
1,000. . 21 y&
9,000... 301,;
11,000.. 30
15 & Q >T
do
n Is
81%
1 000. 81V.
81 "
83%
83%
83 %
O^OOO
do 4'-jS
2.000. 841
do eol 4s
4,000. 771,
2,000. 771
1.000. 76-'!
Am W P s f 7s
1,000. S3
A T & S P gen 4s
10,000. 761
2,000. 77
Atl C L 1st con 4 s
1,000. 76
do L & N 4s
1,000. 6S!
Bait & O tern 6s
15,000.JM
5,1100.
55,000.
3,000.
42.000.
8,000. 83%
do rftr 5 s
2.000. 63%
2,000... . 63
2.000. .'.... 62
do cvt 41'.s
8,000. ._ 60
1,000. G0%
1,000. 61
j.,000.fi^i.s
do gold 4s
1.000. 64%
2,000. 64
do p 1 8%a
3.000. 79
do Pitts LEA
W Va 4s
2 000...
5.000. . .
do Sw 31.?s
5.000...
1.000. 69% ?'
5,000. 69%:
1.000.70%
do T & C 4s I
1,000. 48%
B<rth Steel 1st Be
1.000.,97 I
do rfg 5s
1,000. 84%
5,000. 78
do Nebraska 4s
2,000. . . . 89?
do joint 4a
10,.I.. . 941
1,000. 941
20,000. . . 94
1,000. . !?.;
L4.000. 94
C Grejit Western 4s
8,000. 541
M (? St P cvl ri?
ser R
2,000. 6S
do Ken 4's
1,000..: . 76
2.000. 75
do cvt 4%s
1.000. ."
3,000,
2,000.
8.000. .
K8
^_ J1.000....
?.23 j Del & II rise 4s
1.23 . 2,000.
18.ODD. I^^g
Net Den ? R t; rfg 5s
J".""0. 4,11
1,000.427
1,000. 4?,-''
10,000. ... ! 4,11
do clfs of di-posit
1,000. 44 1,
do con Is
I.000... 631
1,000.63
Erio prior lien 4s
2,000. 52 '
do een lien 4s
1.000 40%
3,000... . 40%
1,000.291.,:
do cvt 4s Ber H
3.000. . 24
do cvt Is ser D
10 000. . . 371..
On Eloo <leb 5s
" 000 96 '
1,000.. !. \ 95%
Gr??at Northern 1 ?s
;; :? Oro Short Line 4s
?? 1,000. 80%
? "' 5,1)?I0. 81
Oro W R R & N 4s
2 I 5.000. 68
il'.icilic G & E 5s
4.000. 80%
'-?racine T & T 5s
1,000. 87%
Penn 4%a 1921
8,000.97%
do con 4 V/8
1,000. . 90%
8,000.901-.
do 5n 1968
1,000. 89%
7,nO0. . . 89
2.1'OO.. 89%
gen 4%s
2.000.
_ . 80%
2,0011.SOU.
80%
SO %
SO %
83
s:>
85%
1,000
"'??I ? M rfg
2,000
5.000.
4,000. .
1,000
10.000.
do ?m.- 59
1.000
111 CcMi-t\ 5V.
1 000
i.000..?
do 4-? 1952
1,000
do 1c ;?.;.;:
821
do Cni
Indiana Stee
9,000.
rnierho -o-Me
5.000
Bridg
1.0(10. , ,
3,000
2,000.
do 4s 1948
2,000....
IPero Marquette
, ! 2,000._
8 1,000._
15,000. 85
2 Pitta C C & St L
, 4%8 ser B
1.000.90
, Pub Ser of N J 5s
1 ! 1,000. 65
) Rending gen -Is
?', 2,000. 80 V,
. 1 Rio G W col 4s
? 5,000. 52
, R I Art & L 4%a
? 1,000.: 61%
i] 2,000.. 60
4,000. fil
St L L- Ml. & S
2.000. 88%
??o 4? lliv &? (i div
1,1 67V
[St L & S V Ka
?lo gen oa
-er C
8 11
1? Ber
3,000,
l.o 1.
? ?0
siio?o! . '.
1; ?? Mer Marine
15,000
K C Ft S * M'6
2,000.. .
do 4 s
5.000.
Kansas Tity So
2,0111?
do 2s
1,000.. .
' 000... .
92 V
661
do adj fis
39,000, . . .
?lo ine r,s
4,000.
1.0(10.
2.000_'.
11.1100.
-??1st. p m & M 41,
1,000. 90
Seaboard \ L rfg 4s
15,000. 46
n City Terminal Is | "" %d>*3 -M
Lacksfe?el'5s-i?230'41 l'000. "
99%
64
70 M
5?1".
56 V
(>0
41%
41%
42
41V?
's
t 000.
Shore -Is 192S
'X'.'-'u
So Pncidt
?vt.
in
do 4s 1931
10,000
Lchigh Valle
1,0 ?0.
Liggett & M
j 000
1,000
? 1.
do 5s'
5,000. .
Long Island rfg 4
83%
81%
100
110
109%
88 ,
in
5.000. .
? oi)fi
i.OO
2.000
1.1.
do rfg 4s
.103
. If-L'-'i
102 .
.102%
.102
. 79
. 78%
78%
7?
7Si
79
Lorillard Co
1. & N gold
fi.000.
do col .'.s 1931
5,000.
do unified 4a
' 000,
7 /i-n-i
..,.11111
do So R
4.000
Mich Cen del
5,000.
Minn & St L Is
" 5 000
M K & T 1st 1
69
I0G
1937
901
.loint
Is
iSouthern R^
Union Pacific G
5S
! 101
. 101 ]
.1011
58%
58
do rfg la
. G
ob ? Ohio 5s
Montgomery div
- ltd
?tf 1
I.
?i%
f deposit
Morris
X Or?
0O0
& ,-.
T i; Mex
rl T<
L'rrtted Rj Inv .'
! '; - - issue
Realty * 1
r .-?
?:? . 1
Tin
000
1 .be
V Central deb 63
s 19:
Mil,,
'ooo
do rig ?
2,00?
N Y C &? '
N V Lack & W 1
I 000.
N YN II & H ?.;
1,000
Steel -
1.000.
85~?
8.7?
85%
Utah Power & L 5s
3,000. S
Va-Car Chemical .",
! 000 . '1
Wabasl . i 5s
! I 000. 8
West Maryland 4s
.
West Pacific
I 000
it & W I ? I
g'e l'h & P
000 s
Tel deb 63
0
?I & L K
5,000, .
o?L
do '
Wesi
Whe,
do eon 4s
Wilkes ?- East
1,000.
Wilson Co 1st
SU.?
S!
2,000. , . S0%
2,000 . .. . 80
L.(. 7'.'7^
N- r W & Hn 4V.?
2.00'?. . . . m;".
Norfolk & W cvt 6s
2,000. ... 102%
1 000.
1,000.
; ooo.
1,000.
94%
94
92%
94
000.
.000.
68
?:v4
58%
58%
70 =
do rfsr 4%s
20,000. . .
14,00?i_
do 4s 1925
10.000. . .
11.0110. . .
10,000.. .
do deb 4s 1934
1,000.. . 59
4,000. 58%
Co gen 4s ser A
20,000. 67
do 3%8
2,000. 59
do 5s C & Lake S
div
2,000 961
C & N W 3%s
8.000. .."... 65
C St L & N O 4s
?-* j Mem div
... I 2,000. 69%
?-?ftlC R I & P Ken 4s
..p.?
New Chairman for
American Brass Co.
( '.. K. Brooker, After ."?6 Years
of Servir?. Heads Bout'?!
of Directors
At the twenty-first annual meeting
of the American Brass Company, held
m Waterbury, Tonn., yesterday,
Charles F. Brooker, president, was
elected chairman of the board, and
John A. Co? was, appointed president to
succeed Mr. Brooker. Mr. Brooker has
been in the service of the company and
us predecessors continuously for fifty
six years. In his annual address Mr.
Brooker said that in the twenty-one
years which th? present company has
been operating there have been very
, few important changes in the personnel
of the management.
Mr. Brooker referred to the patriotic
^^^^^^^^^^^^^^^^^^^^^^^^^ service rendered by the company dur
d? lOM5".... 84%'? ^ f.?00.*.?.6103 inK the War' *tatinS that at the height
l'.OOo!.... '. 84% ?C & West Ind 4s of the war period saleR amounted to
n i,?*000?:?>>\4^UileCo?Vr'6?' " over $l7.r?,000,00(k and that the United
?o 45 1000 . . SO? States Government had complimented
2,000!!!!!! 44%; 1,000. sov the company highly upon its work.
Brooklyn V Gas 5s i J,'}on'1. 80 " In conclusion he spoke of the first
1,000. 73 I 29.000. 80% dividend paid bv the company, which
4,000. 70 ! 10,000...... 80 went to 17(3 stockholders, while the last
10.000...... n C O C ft bt L g?, 4s dividend payment reached 1,830 stock
Cen of Ga Ry 6.^-^ pM00.,_. .^3% hold
Cen Pacific gtd 4? S.onn.%$-,> The board of directors of the com
3,000. 72%i 3,000.si . pany was increased from fifteen to
l!000. Z??L . -"i^l'i2_..7? ??? ?4% ? nineteen. The old directors were re
j elected, and George N. Allen, Frederick
I L. Breman, William A. Cowles and
?Arthur M. Dickinson were elected to
i fill the new places on the board. John
P. Elton was'elected vice-chairman of
the board and first vice-president and
I Clifford F. Hollister was appointed
! treasurer. F. F. Weaver was elected a
vice-president in charg? of .-?:iles at
Waterbury ,\nd Kdmund H. Vates was
appointed secretary.
1.000
2,000.
5,000.
do rfg 4s
1,000.
6,000,
4.000.
1.000.. 641
5.000:. 64
64
64%
3 000.72% Col Industrial 5s
5.000. 7244! , 5,000.7374
CmRRofNJ5i ?Col 4 So 4%9
2 000. 99S? 1,000... 71l,
Ch? A O eon 5s 1,000. 71*
1 000.91 ?Cohim G & E 5?
do cvt 5?
5,000_
2.000_
10,000
3.000...
do gen 4%s
1.000.. .
_IpOO.
7SVComp-Tah-H 6s
78%! 2.000
78%.Con Tiat rvt *s
781 -? I when issmyi
t, ir,,ooo
75 "j 43,000
87
Prices Decline
On Curb Market
And Close Weak
Oil Shares and Indus?
trials Give Way Under
Pressure of Liquidation
and Short Selling
The feeling of appr?hension that
spread all through the financial dis
; trict as a result of the acute credit
? situation struck the curb market a
i hard blow. Stocks there were sub
j jected to heavy pressure most of the
? dry. Liquidation and professional sell
| ?ng combined to knock prices down
i sharply. The decline continued right
! to the close, and the lust prices were
j generally near the low.
Oils, in which there has been a great
? deal of speculation lately, came in for
: a pounding. Houston, which not long
| ago sold above 160, was hammered
! iroin 120 to 115. Invincible Oil dropped
j from 33 to .'il, Simms Petroleum fell 3
j points from its early high of 6l!?.
1 White Oil was off more than 2 points:
Cnrib Syndicate broke below 40 and
j Gilliland lost 2 points.
In the industrial department Gen
' eriil Asphalt was a feature of weak
ncss, falling from 115% to 108% on
n turnover of 5.000 shares. General
! Motors when issfued dropped with the
? price of the old stock, falling to 30.
Industrials
Salei . Open. High. Low. Last
; ]non ?Acme Coal .. t% 1% 1% !';
: 2700 ?Aetna Kxr. . ? 9% 9% 3 Vu 8>/?
10') Air Reduction. IT1.? 47% 47V, \1U
: M00 ?Aluminum Miff 33 35 34 34
l'"> Amalg r.,oather 93 93 !<:; 03
21.Amalg Tire Co 14% 14% 11% Mfy
700 Ameri Candy. . j'0?4 I0l.? ??>>? 9i,
100 ?Am Haw SS wi 75 7."i 76 75
llOOAmer Saf Raz. 13% 13% 12% 12^
!ii' ?Ann Wholes pf 98 !'H ;?s 98
?I ' . 'Al lantic Fruit. !5 35 35 2.">
ion ?Br-Am Chem. o :? r> <?
150n ?Br-Airi T coup 1S% 18% 18% 1SV.
1100 ?do right-.... 6% ii% 6% 6$
500 do reg. 19 19 18% 1S v
'IOC ?Car Light & P 3% 3% 3% 31
100*Conley T F wi 25 25 20 '.'5
5000 ?Gen Asphalt.. i 1 .'?:, 115% 108% 109
8500 ?Gen Mot vi... 32 32 30% 30?.
1300 ?Goldwyn Pict. 30% 30% 29 29
700 Grapc-Ola. 1 TV 1A 1 1 -r
300 do pf. 1% !34 1% 19
l'on ?Havana Tob.. 2% 2% 2 2
550 ulo pf. 11 10% 10 in
200 *lde Collar Co. 35 3? 35 36
30011 Indian Packing 17% 17% 17 17
100 "Kay Co Gas.. 2 2% 2 2'<
400 ?Keystone Sole 13% 13% 13V. 13'i
500 ?Lib, McN & L 27 27 26% 26*
250 Lima Loco. 79 79 78 78
'.?Line Ai cl A.. 51% 51% 51% 51"?
4100 "Locomob n wi 24% 24% 24% 24*
100 ?Mercer Motors 30% 30% 30% 3m,
100 'do pf. !M <-.t ??4 P4 '
2700 -Nati Leather. 15 !.. 12% 13
1500 No Am P & P. ."% 5% 5% 5i
2000 "Orpheum Cire. 32% 32% 31% 21
100 ?Patchog-P wi. 41 41 41 41
2000 Perfection Tire >% f, 4% 47
500 'Press T & R.. 2% 2% 2% 2:;
1000 ?Radio Co wi.. 2% 2% 21-. 2?
12.do pf. 2% 2% 2%" ''S
2)500 ?Republic Rub. 5% 5% 4% ?'
100 ?Root & Vand. 51% 51'.; 51% 511
200 ?Spicer Mfg...ll2 113 112 113'
100 ?Stand (? & E.. 24% 24% 24% 24^
-. ?do pf. 4-1 40 40 40 '
2100 Submarine Boat 15 15 14 14
1000 ?Sweets Co.... 0% ti% ?5% f, 1
1700 ?Swift Interna? .".:'. 52% 49 4?<"
1745 'U S H Sp T... 3!' " 39% 37% 38'
500 ?Un Pict Prod. 14% 14% 14% 14':
700 Unit Profit Sh. 2% 2% 2% 2:
liooo In Retail S ?. i.; i? ' U% 14'
2500 U S Steamship 3% 3% 3% 3
5.I' S Transport 12% 12% 12 12:
lUO - W Rock Wat.. ,* ' 7 '.' 7
Standard Oils
^ales Open. High. Low Lai
?I?'?Ohio Oil Co.. ? 360 357 357
lo ?So Perm Oil.. ? 321 321 321
inS'Std Oil M J.. --- 750 737 737
250 *Std Oi! N V.. ?- 433 416 116
Other Oils
Salei". Open. High. Low. Lai
2600 -Alien Oil ... 1% 1% 1% 1
600 ?Alliance O&R. 16% 16% 16% 16
10000 "-Allied Oil ... \i % }J
: 00 ?Amalg Royalty % '?'?+ %
IS00 tAnnaBelle Wy 70 70 68 7n
L'i'on ??arnadall Corp 55% 55% 54 .",4
500 'Hell Pot . 1 1% 1 1
57O0 ' Bonne Oi. . . 4 ?"? t% 4 4
?00 ?Bost-Mex Oil. :.'.. 2-.. 2% 2
2u000 ?tBost-Wwo Oil 1% 1% 1% 1
300 *Hn.7,os Oil Cp 18 10 IS 19
1000 Burknetl Can C. 2% 2% 2 2
5000 "('aril. Synd.. , 42 43 39% 39
8200 ?Cities Service. 42% 42% 42 42
1200 ?do of . 70% 70% 70% 7u
12O0 ?Colombia Emer 15% 15% 14 14
. 00 ?Continent Ref 4'? 4% 4 -I
lO?O ?Cosden S Co. 9 :? 8% f
00 ?Cushing Pet.. 2% 2% 2%
10000 ?Dominion Oil 20% 20% 17% 11
2100 ?Duquesne Oi!. 6 0 4%
1400 ?Elk Basin Pet 9% !'% 9% ?
2275 Engineers Pet.. 1% 1% 1% 1
4000 ?Ertel Oil. I % 1% 1% !
?"mi ?Federal Oil.. . 3% 2% 2% 2
00 Fensland Oi!.. . 6% 6% ?! 1
1500 ?Gilliland Oil.. 43% 4:-i% 41 41
?"on *<\o pf. 98 98 95% 6i
4000 ?Glenrock Oil.. 3% 3% 3%
2000 ?Guffey-Gillesp. 33% 33% 32% 3.'
2 100 ?Gulfport Oil. . 16 11' 16 li
500 *C,um Cove Oil. 2 3 2% :
300 H Pet of Den.. 3% 3% 3% ?
500 ?Houston O?..120 120 115 11.'
8i 00 "Hudson Oil.. . 1% 1 fV fS
2500 ?Internat Pet.. 67 67 ?33% C
3500 ? Invincible Oil. 22 32 21 2
2000 ?Island O & Tr 5% 5% 5%
1. "i' 'King Pet Cp.. 2% 2%
6400 Livingston Oi!. 1% 1 % IU
200 ?Magna Oil. ... 6 -; li
3900 Manhatan Oil. 34 34 31
100 ?Maracaibo Oil 22% 22% 22% 2
1500 'Mon- Oil Corp 21% 21% 20% 2
400*Metex Pet_ 4% 4% 4%
1500 Mexico Oil. 2% 2% 2%
2500 ?Midwest Ref.. 166 166 159 16
141111 ?Midw-Tex Oil. '/_? % %
1200 North Amer Oil 4% 4% 4%
100 ?P Pro & Ref. 20 20 20 2
l.'.on ?Pennok Oil... 8% 8% 7%
3500 *!? p (x) 10or<- 43 43 40 4
2.) ?Prod & Ref.. . 9% 9% 8%
3000 ?Ryan Pet. 3% 3% 3%
SAO ?Red Rock Oil 1% 1% 1%
6000 t.Salt Cr Prori.. 53 56 53 E
1000 Seabd O & G. . 5 5 4%
400 Sequoy O & R. A A A
3500 ?Skelly Oil_ 11% 11% 11 1
7900 ?Simms Pet... 50% 51% 48% '.
300 So S Cons Corp 1% 1% 1%
1100 ?South O & T. 6% 6% 6%
LlOO Spencer P Corp 18% 18% 18%
U.' ?Stanton Oil . . % % A
500 Steiner Oil .... 15 15 15
:i. 0 'Superior Oil. . 12 12 11%
1.1 ?Texas Chief O 35 35 31
;,,,, ?Tex-Ken Oil. . 3% 3% 3
300 ?Texas Co w i. 51 51 48%
8900 ?Texon O & L 1% 1% 1
500 ?Tex-P C & O.109 109 103 1
3000Tex-Ran P ?& R 1% 1% 1%
1700 ?Thraman Oil.. 1% 1% 1
500 ?Trinity Oil . . % % %
3940 ?Un Tex Petrol 1% 1A '
200 ?Victoria Oil.. 1% 1% 1%
3600 ?Vulcan Oil ... 8% 8% 7%
110 Wayland O & G 4% 4'^ 4%
ROO ?Whelan Oil. . . 1 1 i
1."'White Oil .... 36 36 33%
1000 ?W Eagle O&R 23 28 22
Mining
Sales Open. High. Low. :
54110 Alaska-Br C M. 1 1 %
400 Am Hond Min.. 2% 2% 2%
100 ?America Mines 1A 1% 1A
5000 ?Am Tin & T.. % % %
700 ?Arizona Silver 3% 3% 3%
2500 ?^Atlanta. ?'! 3 3
4800 ?tBelch D <ap> 21 22 19
6200?fBeIch E (apt 21 22 ^ 19
6000 Big Ledge. % % A
3200 ?tBooth. 5% 6 5%
tOOO tBost &. Mont.. 72 72 71
2700 *tCalendonia.. 39 3!> 39
li.rrii Canada Copper lr? %r? 1%
LToO ?rCashboy. 9 9 $\\?
600 ?Con? Vir Silv. ? % 7% 6
700 ?De Beer Con.. 42 42 39
7625 ?Divide Exten.. ft % %
300 E! Salvador Sil. 3% 3% 3%
65000 ?Eureka Cr M. 1% 1% 1%
1800 "Forty-nine M. xag 1% 1%
'500 ?tGold Zone D. 33 33 31
1700 ?Golden Gate.. 1% 1% 1%
27"5 ?tGoldfield Cons 14 15 12
V700 ?Uloldfield Dev 11 12 10
4?00 ?tCroldfleld Mer 3% 3% 3
750 ?tGreat Bend.. 2 3 2
?100 ?Hasbrouck D. 5 6 5
?260 Hecla Mining. 4% 4% 4%
300 ?Iron Blossom. A A A
1700*tJirn Butler.. 25 25 24
".-,00 tJumbo Exten. 6 6% 6
">,00 Kerr Lake ... 4% 4% 4%
"OOO ?tKawanas ... 3 3 3
1 v>00 ?tKnox Divide. 10 10 9
1000 Louisiana Cons % % %
?>,-,n0 ?tMarsh Mining 23 24 22
3000 ?-McN Cr M. . t, % %
10000 ?tMcNam Min.. ?% \i %
2000 fMcKinley-Darr 65 85 65
^wmwmmwmmMMwmm40
The Largest National Bank
in the State of Pennsylvania
THE
PHILADELPHIA
'NATIONAL
BANK
421 CHESTNUT ST., PHILADELPHIA
Our Stockholders have added
FOUR MILLION DOLLARS
to the Capital and Surplus of this Bank. Making
CAPITAL, SURPLUS AND PROFITS
$15,300,000
TOTAL ASSETS
$190,000,000
r>
=^
The advantages ot long experience, strength, large
resources, world-\videconnections,progressivenank
ing service in all its branches.?these we offer vou.
Sales. Open. High. Low. Last.
]O0OMur-M M Ltd. 76 7.'. 7.1 76
800 ?Nat Tin Corp. 11% 11% lt% 11%
6500 ?Nevada Ophir. 40 4 1 to 41
500 Niplssing Min.. 11% 11% 11% T'?
600 Ophir Silv M. . 1% ! ?'', L% 1 ',
1200 Prince Con_ 1 1 \% ~s
4000 -Rex Cons. S 8 7 7
S41MI Roper-Group M. A ?', % \i
1200 ?Silver Dol M. '?. >.-'. ' ?
3000 Silv K of Ariz. -\ \\ \ -,
2700 ?tSilv King D. 6 6 ?"? 6
3500 '"Silver Pick.. 7 ? 7
200 ?So Am G & P. h 8 8
8000 ?iSuccia?s Min.. 5% 5% 5 ?'.'??
1700 ?Sutherland D. 3 3 3
120 ?Tono Belmont. 3 3 2%
2700 ?Tono Divide.. 2 3 2% 2%
1500 Tono Extension 2% 2% 2% 2%
(00 ?Tono Mining.. 2% 2% 2% 2%
150 United Eastern ! i flC? 1
3000 ?tU S Cont M.. 9% 10 ??% in
600 ?ftah Revenue. 2 2 2
8550 ?tViet D (api. 20 20 IS IS
800 tWash GQtz.. 9S 98 98 98
1500 tW End Cons.. LJrJ I? .1;* Lii
C800 tW Caps Min.. 11 12 11 12
2500 ^Wilbert Min, . 7 7 6 ;
Bonds
Sales (000 omitted). Open. High. Low. Last
$7 ?Allied Pack 6s.. 81% 8\:', SI 8!
86 "Atl Fruit 7s.... i?7 !?T'? 97 97
3 ?Am T <fe T. '22.. 96 96 96 96
5 ?Anaconda 6s.... 95 95 94% 94%
20 ?BelK Gvt 6a. '21. 98% 98:-?. 98% 98%
30 "Belgian 6s, '2,'j.. 961? 9CV? !'"i% 96
1 *C C C & St L 6s. 8;,i; 85% 85% 85%
2 Tnter R T 7s.... ?IS 68 67 \i'~'
5 ?Ruas Gvt 5%a.. 29% 30 29 29
10 ?Russ Gvt 6%s.. 30 " 30 30 30
10 ?Swiss Gvt 5%s.. ^s ss 87% 87%
"l:nlist<?d. tSell?. cent*-, per share.
Financing Held Up by
Unfavorable Conditions
Conjunction of Adverse Events
Forces Postponement of
New liguen
\'o\v financing being held up by the
current unfavorable conditions in the
investment market were conservatively
estimated bv bankers yesterday at
?5130,000.000. The factors" said to'be a
strong deterrent against the floating of
new issues at this time were the de?
moralization of the foreign exchanges,
the high rates for Stock Exchange
loans, 10 per cent being bid for time
money, and the sagging- tendency oi
the stock market.
It is understood that the large ma?
jority of financing projects under con?
sideration and awaiting more favorable
market conditions are industrial stock ?
issues. Bankers have realized for a
long time the difficulty of selling bond?
to investors except at abnormally high
interest yields because of the burden?
some features of the income tax law,
which has influenced investors to place
cheir money where there is offered the
opportunity of a quick profil in the
swings of the stock.
Bankers stated that a new impetus to
raising funds through the medium of
security issues has been given by the
increase in the Federal Reserve BanK
rediscount rates. This action has made
it more difficult to arrange borrowings |
through the usual banking channels,
ind therefore funds are being sought
through the sale of securities. The
success of recent industrial offerings,
it is said, leads to the belief that this
source of financing has not yet been
exhausted.
Financial Item.?
Th* Hankers Trust Company lias been
appointed transfer agent for the 8 ! er
cent cumulative preferred and the common
capital stocks of the Fisher Burly Ohio
Corporation.
The Central Union Trust Company of
N"ew York has been appointai transfer
agent of the preferred and common stockt
of George P. Ide & Co., tnc.
A Bpeclaf meeting of the Granby Con-.
BOlldated Minii.g. Smelting and Power'
Company stockholders has beert called for
February 25 in New York to vote on the
proposed Increases in capital stock from
$20.000,000 to $25,000.000 and Issuance of
$2,500,000 debenture bonds.
Thf Empire Trust Company has been
appointer! New York registrar of the
Sherwln-Willlams Company
The Efiultablo Trust Company of New
York has received for distribution to
holders of the Royal Durch Company,
New York and American shares, a iltvi- ;
?lend amounting to $1.9085 on each share,
payable on February 27 to stockholders nf
record February 16. provided the neces?
sary income tax ownership certificate has
be.-n filed with the Equitable Trust Com?
pany on or before date of payment.
The Guaranty Trust Company of New
York has been appointed transfer agent
of the preferred and common stocks of
the Oklahoma Producing and Refining
Corporation.
B. F. Finnegan has been elected vice
president, of the Union Tank Line Com?
pany and Will have charge of the ear
service department.
Guaranty Trust Company of ?New York
has been appointed transfer agent of the
stock of the Commercial Solvents Corpor?
ation.
National Bank of Commerce In Ne-w
York has been appointed registrar of the
preferred and common stocks of George P.
Ide & Co., Inc. The authorize! issue is
2 0,000 shares preferred stock of the par
value of $100 and 75,000 shares of common
stock of no par value.
Bankers Trust Company, trustee, has ts
sued a call for tenders for the sale to it
of Braden Copper Alinea Company fifteen
year 6 per cent sinking fund gold bonds
to the extent of $666,033 for the sinking
fund. All such tenders must b? for all or
?.ay part of the bonds offered, must state
price at which they are offered, not ex?
ceeding, however, 105 and accueil interest,
and must be received by the trust com?
pany on or before February 20
Grander A Co. have fjrjen^d a r,ollrt ,)?_
partmenl under the mai:--. ienl f
Thomas C Campbell, formerlj of liorn
>.,,.. . er <v >v ? I
eposit Accounts
o? individuals, firms
and corporations invited.
Interest credited monthly
on accounts subject to check.
Special rates on time deposits
or funds awaiting investment.
Every feature of up-to-date
banking service available at
Four Conveniently
LocatedOffices
5 5 Cedar Street
B'way at 7 3rd St.
Madison Ave. at 75th St.
125th St. at Eighth Ave.
OTED STATES
I0RTGAGE & TRUST
COMPANY
Capital and Surplus $6,000,000
LIBERTY BONDS
All denominations bought for c?i?
Bas-"! on the closing we pay:
IK fit? for ;? S">0?.<?&??? Bond, 55 Coupon?
1.1 01 for a ji'iO?'MI'i'? I5i>;i<l, I Coupon
Hi.K-i for a $50?3d *V*".'<> liona, l Coupon
15.33 for a $50??Hi ??????> Bond, 3 Coupons
ts.-.7 tora $50?5th l-'-^n Bond, 1 Coupons
PURDY & CO.,
el. John :J.17?-.-.-B-7. M Pine St., H. T.
ANDREW J. McCORJtACK, Auctioneer.
RECULAR AUCTI? ?N .-ALI-'.
STO< k> AND P.OM)^
BY ABR?AN 1!. Ml LLER & SON.
OFFICE, :?? ^ IU-1AM r-T .
WEDNESDAY, PEBKCARY till. 1930.
EXCHAN'l ; ROOM.
Nl IS. 14 ANT) H \ I?SKV STREET
For ??- :i ui ? oi Ti u -??? s
760 -.. li ?toi Rail? .v Light
Co. ?Ve Cumulative P
! . Lccou of V hot i It Mai Con. ern:
10 sha. Na onal P rl Bank
20 shs. Mi chanli & Met ? Nat'l
Bank.
100 shs. si irg I ? ? Wayne &
. hi? ie ' R'waj ' 'o. Pi ?
? :-??? n R i";.
;, ! shs ! -i S ?? Ji ? sey R It *
Canal Co
76 shs N V Central v Hudson River
R. R. Co
95,000 Texas City Trai 3] rrtatlon Co. 6*?
: vear ? onvt Gold Bonf*, due All?
er:--, 1917; ?40.000 have Feb'y. 1913,
coupon on; $10, August,
? ?- ouji .ns on and i 15,i - 0 have
a igust, : - : i iponi
. -' ; Tin ? Squa ?? Auto Supply Co .
?
?j;. shs. Chi se Nal tonal Bank
50 shs. Mel ropo il an Ti usl i ??
33,000 Second Avenue R R 6?!> Receiver's
Ctfs., Ctfs. of Deposit
?10,000 Railroad Securities Co Illinois
? lent ra . Stor Is Int - ' ts 1%. Sert? s
A, 1952
$581.54 Texas & Pacific* Ry. 1st Mtge.
: '. Bond Sei Ip, due - -?? i
? '. 000 San A S Pass Rv. 1st
' .',..: I'. Regst Bd., 194
100 shs. M xi an Seaboai d OI Co
... ? b.s. i !has? Mations Bank.
i00 sha n.;--- :- in? M< tor Corpn, i
?
600 sha Ha,3elttne Motor Corpn. Prefd.
2,500 shs. South Banner Mines Co., tnc
6 alis. Fidelity Ph?nix insurance Co.
20 shs. Title Guarantee ii 'fi-ust Co.
Warehouse Receipts, Merchants Refrigerat?
ing Co., isth and 17th Streets, lOtli
and lltb Avenues, N. v Clly, tor
199 i.&er-a, said to contain orange
marmalade.
Sold Storage Receipt, Issued by Reviilon
Fr?res, 21S Els -t ?fith S?-?et. x v.
1 'itj. for J Sil? er I ox S? arf and 1
FINANCIAL MEETING^
MITCHELL MOTORS (OMPANV, INC.
NOTICE OF ANN'l'AI, MEETING
The annual meeting of th? stockholders i
? MITCHELL MOTORS COMPANY INC
?ill be )i?ld at Room 4C7. No. 3G Broad
Street, Borough of .Mrjithatirtn, City of
?ew York. X. T., on Tuesday, the 17th
?ay of February, i920. a-. 12 o'clock noon.
or the purposi of electing Directors and
r the transaction of such other business
s may b<? brought h?for* th? meeting. -V
1st of stockholders entitled to vota at said
rteeting '.-ill be taken as <?'. the c!o?.> of
n - M -.-:., ; ?? ? -. : 9*h ' '0
FINANCIAL MEETINGS
?KE MERCHANTS NATIONAL
SANK of the CITY of NEW YORK
\-OTlCE IS HEREBY GIVEN that at a
fleeting ?? -.he shareholders of The Mer
hams National Bank of the City of New
'ork, held ou January 13, 1930, It wa*
etermined l?; take ?ucn proceedings a*
nay be necessary or convenient. 10 or
anlzc this Bai klner Association as an In
,-jiporated ham: of ?ii* fatal* of New
. >, the nan.o of The Merchant? Bank
f the City o? New ?ork; and ai^-i that
.-a- ; this Bank shall have be<-n organized
? an Incorporated bank of the State of
Jew York proceedings be taken tu mers?
-. with the President and Director? o? the
Manhattan Company.
H'.- order of the Board of Director?.
?. E. PAYNTEK, Cashier.
Dated New Y >rk, January 13, 1330.
FHE MEM?ANfrTAfTOf^
2?HK of the CITY of NEW YORK
NOTICE IS HEREBY GIVEN that at a
etlng of ?i." shareholder? of The Mer
na ta N il Bank of ?he City of Ne?
? Id on January li, 1130, It was
?oted that the aid H.,:-.:. %?> into lbjulda
; and be close 1 and dissolved.
All holders of notes and other creditor?
if said Banking Association are h? reb?
lotlned to present such note? and other
daim? again??, the Association for pay?
ment, at i'.n Banking Ht use, Number 43
.Nail hire t. New Yo-k City. unt!s K*bru
IS30, and 'hereafter to Its Wqul
latunr ae-nt. th* President and Director?
>; tlio Manhattan Company, at Number *?
iVali ?irect. New Y*,,rk City.
By order of ti.e Board o? Dir -clora.
O. E. PAYNTEK, ?ra?l>l?r.
Dated New York. January 13. 1930.
TO THE STOCKHOLDERS OF M VI.
TKL1.I .<- SON. INC.:
PDBA&E TAKE NOTICE that a meeting
of the stockholder? of I.. Vltellt <fc Son.
IliC , will be held at the office, of the cor?
poration, yt No. 71 Nassau Streif, m ti?
Borough of Manhattan, City o? Ne?. York,
on the l?li day o? February, 192'). at 3
?' m for the purp '?? of considering (W?d
.- ,i|i'i;i the ngre<>!n?nt ?ntered tnto
by the Bo? rd of D.rectors of this corpors
t.oi! with the Board of Director? of Mtelli
X Compai y. Inc., for the consolidation of
U Vltelil .v Son, Inc., ?-?th vttelll * Com.
pany. In??.. and th? term? ard conditions
of consolidations and tuen other business
In r.?'<*io- tharetj a? may cora? !,*for?
*^:>j meeting.
Dated, New York. January 2Tth, IstJO.
BY ORDER OF THE BOARD OP DI?
RECTORS.
WII.HELMINA VTTE1AI, '
Secretary.
TO THE STOCKHOLDER!! OF YITIH.M A
?'OMl'ANV. LNC
PI EASE TAKE NOTICE that a BKettog
stockholder* of \ >t?ni & Compart;
Inc . will be held at th? ?flic? of the corpo?
ration, at 71 Nassau Stre*-*. In the Borough
of Manhattan. City of New York, re; ?>>?>
lith day "f Kebruary. 19?0. at 2 P. M., ?o
th?> purpose of considering :?nd passing upo",
the agreement f-nter**d Into bv the Board of
Directors of his Corporation with the Board
or Directors of li Vltelil & Son, Inc.. for th*
consolidation of Vltelil 4 Company. In ?
With L Vltelil & Son. lue . and the terms
and conditions of consolidations and sue::
other buslnree In relation thereto as may
com? before yaid meeting.
Dated. New Y'.rk. Jsnuan 27th. 1330
BT ORDER OF THE BOARD OV DI?
RE? TOR8
WT HELM1N V "v iTEl 1 I
