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' Following is u complete record of all transactions in bonds on the New York Stock Exchange yesterday: U. S. Government Bonds York Stock Exchange Quotations) 'Closing Quotations) Wednesday. Tuesday. Bid. Asked. Bid. Asked 99.4C? ?9.50 S9.40? 09.46 95.20? 55.40 95.32? 95.-0 12. 93.82<o_ 93.93 94.10? 9-.20 ?'4. 95.60? 95.80 95.8.(fi 95.9C "42 94.10& 94.18 94.34^ 94.40 ?28 95.28? 95.34 95.40? 95.46 de-tth i%3'38 94.22^' 94.24 94.44? 94.48 Vieldry 4%. .. 99.92? 99.96 99.96? 99.98 do -3%. _100.10?100.20 100.02? 100.06 Vre-war Issues; Ssl reg. 1930. 99%? 99% 93'. 4? 99% "?jieoup, 1930..-. 99%? 99% 99%<?> 99% 8J res. 1946. 89 @ 92 89 @ 92 3affiup. 1940_ 89 @ S2 83 @ 92 i.-v-reg. 19:'...... 106 ?106!% 106'/4@1C6'/2 Js?.conii. 1923_1C6%@>1C6*2 '.06 %@ lOO'/a :.?Pa... c, 1 !ti.. 93%? 99' -> S8%? 99'/. L'sJWn, r, ..'.6 . t_'.,? -- 98%(?> ? 2Jfaa. c. lt?".S.. S8%? 99'% .3-'.? OO". . ..Pi.ii. r. 1'JoS . C3%? ? 9;-%? ? , fean. re,:. 3J @ 92 8:1 @ 92 ;..'.fan. coup_ 89 ?92 89 & 92 .'?.'' .-. 1934.... 9.1 @ 96 90 ? 96 Pf.t~?s. 1933_ 90 @ 96 90 @ 96 I'Hil 4s. 1936_ 90 ? 96 90 @ 96 D Col 3-1.3.. 97 ?100 97 ?100 Liberty Isauea Net High. Low. Lr.st. change. Lfcertv 3%s ... 99.40 99.30 99.40 - So.l-t4_... 95.30 95.C0 95.20 ?.10 i!o-._'! ' . ... 93.90 9.8- 93.90 ? .30 '*&%-. \ -. ... 95..0 -5.-0 95.60 .10 ifftd 1%. .. 94.20 94.00 94.15 ?? .24 ,j ."... ?%_. . !j..j 95.20 95.34 - .. w !'->. l'i- .. 34.30 94.12 94.26 .c2 Y-fetor. 4% . . 9J..6 99.33 99.9i! - .oo ?;6a%-.10C.12 100.02 100.10 - .ce lAppioximate investment yield at ths tifteghfe New Yorfc i-.to-k Exchange prices.] Yield. T-i-d iMa. _>??! )"f'-h ;?',_ . *?" iounh 1%_ . 4.70 Esfwi ''.* .??. *?** lirst iV*3 . 4'53 b fepdafa . *?? KijB 4. . 4.30 Fiffe 3%a . 3.71 1 inat ?%a . 3.52 '"Sales of Liberty Bonds on the New York Sioak Exchange carry intereat to the date ol sale. and the seller veceivea thU interest ii. addition to the sale urice. i M (Sales. Liberty S'.a |U S Liberty 3d4'4s ... 99.38 10.000. 95.32 : . .-< . 99.30 100,009. 95 34 ? ,,; .....1. 99.38 13,000. 35.30 201 ?. . 1 .. . 9.' 40 2,000. 95.23 ilO.U 0 . 9 ? l.OJD. 95 36 ... ... .ii. 99.4c ..'."in. 95.23 ' ? ;, ?? . . .9.34 20.000. 95.33; |23. ... 99.32 5'J.uOO. .5.32' I mi .... 99.30 10 000. 95.34 S 2 000. 99.32 60,000. S5.30 , ".i .... 99.30. 10,000. 95.23 ? 2. 99.32 25,000. 95.32 ? t, .inn. 99.33 1.000. 95.26 ? 1,001. 99.36 2,000. 95.23 jtl.C. 99.34: 35,000. 95.30 #1,000. 99.32 1S.000. 95.28 ?; ... -1. 99.38 47 000*. 95.32 ?....1. 95.43; ;.3,u00. 95.3-1 17,000. 95.32: M2, 100. 99.40i Total _$2,496,000 ?6,000. 99.34-u S Liberty 4th 4 Vis ?0,000. 99.40 1933-38 TT,. 99.40; 20.000. 94.30 ?y 30 000. 94.24 Tatai .$860,000 120,000. 94.20 U -fl-.ib lst cvt 4a j 5,000. 94.22 3932-47 sn.ono. 94.20 J..00 '.95.00 9 '""'". 94.18 ' WT.000. 95.30: 7. 94.16 6,000. 95.10, 50 000. 94.24 5,000. 95.20; 69 000. 94.26' ir, 000. 94.22 Tojal .$55,000, 12.000. 94.20, U SJiLibertji 2d Is ;. 000. 94.26 I927-1J i 10.000. 94.20 ?!' "J. 93.">0 r,5 000. 94.24 !.' "0. 93.80, 7,000. 94.22 2f.i . 93.90, ] 000. 94.18 fc, ' . 93.80 10.000. 94.20 j.'J ? . 93.88 ;, 000 . 94 18 : 1.000. 93..0, 30.000. 94.20 '4 '00. 93.86 ci nfin. 94.16 ' .8, "". 93.88 1 |f, 000. 94.20 ... "53.90 -,.,-.,,.,. 94.I8 - '. 93.83 inn 000. 94.20 ! . 93.30 12 000 94 24 ?.'"'"'. c'3.90 ?? ono. 94.20 !?. ""'0 . 93 86 5000. 94.16 101,000. 93.90 7;, 000. 94.20 \ 10 "10. 93.90 | 000 . 94.24' 1. 100. 93.82 450OO 94 20 22,. 93 80 an ono . 94 18 28, '00. 93.82 12,000. 94.14 5&000. 95.90. 7 000 94 15 . 28.1 00 . 93.83; o'ooo 9414 I I? '?? '. 93.93 s.'dliO.'.'.'.'.'. 94^18 '-"*?"'. 93.86 27,000.... 94 20 l<M?0. 93.82 ir noo. 94 16 '0. 93.90; 28'o00. 94'20 '. 93.84 16,000. 94 22 3,000. 93.80 27,000. ?4.26 . 93.90 5,000 . 94.24 14L00O. 94.26 , Tottd .$488,000: 43 000 . 94 28 U S tTb lat cv 4.4a ? 4 .1. 94 24 1^32-47 1,000. 94.28 -?",'. 95.40 5.000. . . 94 26 . 95.70 2.000 94 20 '. 95 60 43.000. 94.24 2,000. 95.50' , inn ni.ii 94 26 -1*00. 95.60 1,000. 94 20 ., - ' ! L000. 94.22 tal ...$56,030 50,000. 04 26 U Ljh _'! cv 4'48 j fisinoo. . 04 24 ' ' 'T-1'- 1 1S.000. . . 14 20 ? ' ?? . 94 00] L'i.5 li m r, 26 0 .... 94.10 2LOO0. 94.24 ... 94.14 ] 20,000. 94 22 ? ' . 94.12 144,000. 94 20 . 94.16 t.OOO. 94 24 '. " 000 . 94.10 120,000. . 94 20 IL" ". 94.06 12,000. 94^18 S.000. 94.00 20.000. 94 20' 50,000. 94.06 23.000 9418 LOOO. 94.02 ! ,i 10 ' 94 16 10,000. 94.06; 22,000 94'20 1 000. 94.00 5,000. . 94 14 t.OOO. 94.04 100,000 . 94 20 10.000. 94.14' 2.000. . 94 18 20,00!. 94.10 90.000. 94J6 1,4 '. 94.14 35,000. 94 20 . 94.06 125,000. 94 24 1.000. 94.08 20 A''f> 94 26 1 ?'.'>"" . 04.14 30 000 94 23 2".000 _ 04.16 I 000 .4 24 ". ^4.12 o3000.04'26 '.'? . 94.14 i ,9,000. 94.22 . 94.16 10.000. 94.20 . 94.14 55 000 94 22 1 ". 'O0. 94.10 4i.000] . .'.' ' 94'20 0 . . . . 94.12 1:,.,.'...I. 94 24 '. 94.16 193,000. 94 20 ''.' ' '. 94.14 i . 94 12 . 94.16 13,000. . 94'20 . 94.18 28.000, . 94 18 .94.23 15,000. 94'29 ' ' '.94.12 VS 000 94 ?4 . 94.14 27 000 94 20 "'. 94.16 4'. 000 94' 18 . . 94.18 1,000. 94*16 04 16 1,000 94 22 13.000 ... 94 10 00. 94'l6 . ? 94.14 1,000_." 9420 ... 94.16' 7, non 94 24 7.<W>n - 94.10' 50 000 94 26 '--"?.04 14 . 94.18 Total . . $3,699,000 Vlc Lib I.-.an :;?' ia rotid . . $760 00-0 1922-23 L' 9 I.l!-rty _d!'-.? 17,000 . .. 1O0.02 100.04 95.3? 20 000 . . . 100'02 ? ^5 3"! r,.000 . 190 08 ? .9*> 26 .', 000.,00 02 95 24 -,.'n n . 100 06 95 22 ." 000 '00 0K 9^.24 94,000 . I.10O.08 ???>?: ? . .,, 100 1"1 rc 30' - n-i, . .m.'.'o 95 ?<= n'i'i 100 12 ? . . -9". ?4 1O102 : . . 95.?3 I 1,000 ... IT) 0^ 1 . '.r. 22 10 non 100 10 95 20 22.000, . 100 f 4 S.I.OOt.. . . o?, ?? 184.000. . 100 1C .... 9^ ?2 . 9.24 To?a' .$760 003 20AX1 . 95.26 Vio Lib I.?an 4?ia 99.201 1922-22 ?*?/HW, ... 9-,.?^ ?t(..nA0., 99 94 "' . ... oV.r0' Zf.'.oofl . . 00 r<2 -?''?". 9' 26 :>'<<?<,',.99 94 ISf&Ofl . 9*. 20 :92.ftOfl 99 92 ?."w' . c*. ??? 12 finn ... 99 90 '?' ~>t. ? 1 . .i . , 99 0' G.O"'' ... ' ? 'j'. ? .'.fi (M.fW f. 'n'l ',r 99\ ?:{, i,,,,. r.* nt ? r. f ?- (.nn 9?, -,i <-?- ii, ???. 1 rr,' ' ' it "J "'? '.:?<? n .- ? ... ?, ae ? ? ''? "'' '. , . . M9* ?-- <?(< . I'* 9? I'1"'1" .. . 9' ?? U'.OflO ' 9V94 i'i"-i'i. *?*.?* :,uw.'i " 9900 ''? "' . 9?9? 4,oon..;,'.. 9992 " '? . 9?. ?0' 20 000 . , 99 94 ' * ?">'?- 98 2* 17-..f.r,0. 99 92 ?'^0". 9ft ??' r.O/tOO ... 99 an 1" '"' . ?.??' -,(1 nnO 9902 * '?"?". '-* 94\ " onn 99 04 '.**''? . ?* ;>?? >n.ftno....' 99 9a ''< . .. "???<.! 9*.009. 99 9f? < LW. 91.29] ZWQ0. $9,92 U S Liberty- 3 d4%a j Victory Liberty Loan 1928 | 4a,s 1922--23 13,000. 95.26 9,000. 95.30: 25,000. 95.28 1.000. 95.20] 2U.0J0. 95.30 3.'.000. 95.23: 6,000. 95.2S 95,000. 95.30 5.000. 95.28 20,000. 95.30' 1.000. 95.24 25.000. 95.32 8,000. 95.26 20.000. 95.30: 80.000. 95.34' ..-00. 95.28' 50.000. 95.30: 5,000. 95.28 24,000. 99.94 33,000. 99.92 10.00'J. 99.94 50,000. 99.96 4..00. 99.92 3,000. 99.94 S.000. 99.92 2.000. 99.96 5.000. 99.92 2,090. 99.94 5.000. 99.96 27..000. 99.92 1.000. 99.90 04.000. 99.92 26.000. 99.94 23,000. 94.92 Total _$1,810,000 Foreign Governmenf and Municipal Bonds (New York Stock Exchange Quotations) (Interest To Be Added) Bid. Asked. Am Foreign See Co 5s 1919... 99JJ 99% Angln-Krench Extern 5s 1920.. 97% 97 ft Arjrentine Intern 5s 1943. 84 85% Canada Dom of 5s 1921. 98% 98% do 1926 . 98% 98'<> do 1931 . 98 98'/8 Chinese Gov Hu K Ly _s 1951. 70 71 Cuba Extern .".? 1944. 98%' 101 .io Kxtern 3s Series A 1949 . 91% 93 do Extern 1 '% 1949. 83% 84% '.imjn c .ii Ri-p 0.-; i.i's. 91 ? City of Bordeaux Os 1919. 99% 99% City of Lyons 6a 1919. 99% 99% City of Marseilles (is 1919. 99% 99% City ot' t-ari. lis 1921. 97,8 f8 Jap Covr 4'.. str!? In 1925.... 91 91% do L'd ser 1925. 91 92 do 4s strljr In 1931. 80 80% City ol' Tokio 7>s 197,2. 80' , 81% U K of G B & I 3-yr 5>-.s 1919. 99%' 99i$ do 5-yr 5 >,-is 1921. 98% 98ig do 20-yr 5' *_ 1037. 99% 99% Foreign Bonds Dealt in Flat Mc.\ Extern strl 5s of '99 1945. 66'% 71 do Extern Kold 4s of '01 1954 52' 56% Russ 189. Ktnte 4s 1,000 ruble d 20 -- (Sales; ! Jap lst ser 4 '.s 97 A 3.000. ..... 91 97!% uo L'd ser J'.s 97,V, German stm 97%i 7,000. 87% 97,VU K 01' . B i 1 Ani;! --j r.nch 10,000_ I . ,000. 14.000. 6,000. 3,000. 10,000. . 500. 973 97, 97'/ 973 97) 5V>s 1919 1,000. 99% 2,000. 99 f? 24,000. 99% do 5%s 1921 18,000. . 98 {S 5,noo. City of Bord 6s 101,000. 99% 1.000. 993^' 2,000. . . . City of Lyons 6s do 5',?s 1931 102,000. 99'% 10,000_ City of Mar-s 6s 30,000.... 102.000. 99% 1,000_ City of Paris ?s 2 000 2,000. 93 ! 2.000_ 10.000. 97%i 40,000. . . 10,000. 98 ! 4,000_ 1,000. 97%! 5,000. Dom Canada .".s 1921 N Y C J7_.i1 1 C?;.7 2.000. 985.j 4.000. .... .102% 1.000. 983^' do 4%s io?4 do 1926 1,000. 97% 7.000.9838' do 4s 1959 d? 1931 1,000. 92'% 33,000. 98 I 99% 99% 9934 99% 993/4 99% n93a 99% Railways, O.Iier Corporation.. Int M Marine 6s Adams Lxpress 4s 4,000. 65 Alaska Gold M 6s ser B 4,000. 29 Am Ak Ch cvt 5s 1.000. 97/j Am Smelting 5s 4.000. 90 2,000. 89?4 Am T & T cvt Cs 9.000.103'/2 Lack Steel 3s 1923 13,000.103% 1.000. . 97 9,000.103% 4,000. 967 do col 5a do 5s 1950 2,000. 92 I 2.000.953, do col 4s lLake S 4s 1928 1,000. 85% 0,000. . 893 . 86 LOO0. 99'.2 Int M Marine Os stamped 2,000. 71 Iowa Central 4s 7,000. 47 Kan City So 5s 4,000. 87 do 3s 5,000. 60% 4.000 1.000 1,000 A T & S V gen 4s 10.100. 82% 2,000. 90 85% LehiRh Valley Gs 86 1,000.102% do con 4,->3 1.000. T_86/2 5.000. 82% LiRKPtt & M ._ 2,""0. 82% 8,000. 94 '-.. 823/8 l.oon. 93_,H -'."oi!. 82% Lorillard Co 5a 500. 82% 7.000 . . o"7 "?'". 82%! -.000.; 92% do a<lj 4s stamped |L & N unifif-d 4s 'f'-,1"fl. 75%: 14.000.-85% 1".""". 75% Manhattan Rv ls do Ry M 4s l.ooo. 70% 1.000. 74 do tax exempt Ati ? C A L 5s l.nnn 71 1.000. 95%' Midvnl? Steel 5s' Ati C L lst con 43 1.000 1,000. 81'. Bait & O rftr 5s 90% 4."00. 90% 000 4.000. 80% sicoo!..'.'.'. do cvt 4'-s I H 000 2.000. 79 IM K & T lst 4s 2,000. 79%: 2 oon 1.000. 79% do 2d 4s 1.000. 79 ' 3,000. 3,000. 79% Mo Pac cen 4s ' do (fold 4s 50 000 10,000. ..... 76% 1.000. 2.000. 76% 2,000 do Pitt.s L E & 1,000.. w Va -ls 'Morris & Co 4V_s 5.00O. 741%' 3>000. . Beth Stccl Ut 5s i Montana Power 5> l.ooo. 96% iii,.,, do rfK os 1,000 6,000. 90%'Nassau Elec 4s do p m 5a ? ono 55 19.000. 89 N Enamel &'s'5s 5.000. 89% o.onn %8 1.000. 89 j 2,000 '' 971 ? ; 5.000. 89% N Y Central deb 6s ' ; 90% 39% 83% 65% 36 62 61% 613. 62 92% 92% 19,000. 89'.. Braden Copper 6s 10.000. 95 Brooklyn R T 4s 3.000. 17 Bush Term con :.s l! ,000. 82! Cen Leather 5s 1,000. 973, 10.000. 97'. .000 8,000.. . . 2,000. Cen Ga con 5s l.ooo. 91 Cen Pac Ktd 4s 11.000.1C0 74.000. 997. 1.000. 993, 10.000.100 l^'r"^. 99% ; do rff | '..s l.ooo/ ... 34% do rftr 'i'.s 15.000.:.... 71 2.000. . 71' '-, 97% N Y N H & H 6s 98%: 3.non. 531/ 97 |N Y TrN.phone 41..,* \ 7.000. 89% N Y W ft Bn 4V-K 3,000. 52i/2 82% 1 .nr?f|. 80 ! Norf & W cvt 6. ?_ *-"nn. 79% lo.onn.10s% Ches & O cvt 5s ( 21 000 10S' ', 35.000. 90%l 2.000 ' 10834 11."00. 90 do con 4a 8.000. 90% 1 ono 4,000. 90% Nor Pac 4>/.s 2.000. 90% 2.000.;. . 88'.', do cvt 4i-s do 3a 4."00. 83% 11.000. . 60 S.'"'"1. 3v 2 Ore \V R R & N 4? 2.000. 83 R 000. 771/4 do -:en 4'i-s 2.000.... 77% ,;..'. 80-; Pacific C. .<t E 5s 3,000. ?0%: l.ooo. . 87 C B ft Q III 3>/-a 10 ono 357; 4."00. 75% Pacif. " <: T 5s do joint 4a 3.000. 913/i 18.000. 96 ? 1.000 9"> 3.000. 96'%'Pen:: 5s 1968 1,000. 96 ! 32.000. 95% C ft. Erie lst 5s do ve~i 4'.s 2.000. 92% 20.000%_8?'/, C Gt Western 4s 1.000... . 87% 5.000. 62 ' Pcoria ft E inc 4s C M & St P cvt ' 3.000. 30 5< ser B ! Pere Mamuettc 5s 2,000. 80 ' fi.000. 89 1.000. 79%/Philu Co 5s 1922 do gen _%a I 8,000.. 933.4 2.000. 81'% Pub S?-r of N J Rs do cvt 4 >.? l nnn 773.' 7.000.._ 79 I 4.oon... " 771/. 2.000. 78%iPic:ce Oil fis 1020 10,000. 78'/-.: do rf v. 4 ' s 1.000. 71-%' 2,000.711 J 3.000. 71 do 4x 19 23 5,000. 84% Chlcago Ry 5s ' 1,000. 73 C R r ft P rfcr 4* ' 2.000. /33^. 4.000. 73% 1 ."00. 723/3 C & West Ind 4? 5.000. 64% Chile Copper 7s 1.000.122 1,100.121 1,000.122 Rio G W lst 4s' do 6s 1,000 73 17,000. 92 ' 1,000. ..... 731/, 5,000. 9?'% St J /?? Grand I 4s * 1.000. 92i _ ".000.63'% do ?;? 3d paid : St I. Ir Mt 4 S 4* 2,000. ..... 91%' ...000. . 82% C C C * St I. .%. St L * R F 4a ser A 1.000.121 do 19?4 4.000.106% R 000.io*; ".000.105% m.000.iofi lo.non.lO^'.Tt 1 ono.iofii/. in nnn.moi/, 7.oon.mrs -, ^i.onn.105% i.oon.iofi l.ooo.105% 1 Readin? n-en 4s 5.000. 833i 3.000. 84 Republi" I & S 5s 2.onn.. m.. 951% 10.000. 80%' Co! Itidmtrial 5a I.O00. 80%' Col * So 4'.? 1.000 ..... 80% Cump Tab R 6. 1.000. 84% 1.000. 88 Del * H cvt 5? I 32,000. 93 ! Den tt R G rfgr 5? 6.000 do 4Vi? 17.000. 76 An enn 4a R nnn 1,000 63% l ,onn. p?% r.OO. f,4 17 000. 63% dO '<!? ';? 0 nnn. , pni' 3,000. 68 do Ine Rh K?. noo. 53 ",000. B2^'_ 1.000. 53 67^, 8t L Kwn con 4a 13,000. 64 San An A A V 4a 10,000. 66% Detroit KdUon rtg 5e 1940 1,000.94 78 ISeaboard A L adj R? 2,000. 62'/. 1.000. 51% 2.000. 811,4 Detroit U Rys 4%a I Sinclair Oil 7s 1.000. 76 I 25,000. 99% Erie gen lien 4a | So Bell T & T 5s 5.000. 56/8l 1.000. 92 do cvt 4s ser A I So Pacilic cvt 5s 10.000. 503%! 6,000.109'/, 4,000. 51 I 10,000.108% do cvt 4s ser B I 5.000.109 5,000. 49%: 4.000.109% do cvt 4a ser D 9,000.108% 23.000. 52%! 3,000.109% 12,000. 52 I do cvt 4s 7.Ono. 51 Vzl 1.000. S5% 4,000. 52 2,000. 853,4 9.000. 52'/8! 35,000. 85% ."..Oon. h2 ' do rfg 4s 4,000. 61341 2.000. 80% 1,000. 51%' 2.000. 80% Great Nor 4%s I 1,000. 81 5,000. 87 I do col 4s G Bay & W deb B ! 2,000. 76% 3,000. 13 i 1,000. 753,4 2.000. 13%'Southern Ry 4s 5.000. 13%. 8.000. 68% 5.000. 13% Tenn Copper 0s 2,000. 13" ?' 1,000. 93 7.000. 13' >.Texas Co cvt 6s 5,000. 13% 1,000.102 5,000. 13% Third Av lst 5s 2,000. 13%' 1,000. 89 2.000. 13%i do rfg 4s 1.000. 13%' ? LOOO. 55% 1.000. 13%' do adj 5s 15,000. 14 I 10,000. 40% 1.000. 13%' 13.000. 40 48.000. 14 5.000. 393.i 72,000. 14'. 8 7.000. 39% 2,000. 14 'Union Pacific 6s ?-'2.000. 14'/8' 2,000.103% 12,000. 14% 3,000.10334 Hud ft M rfg 3s ' 5,000 ...... 103% 1.000. 6?% do lst 4a 1.000. 62% 10.000. J-61 _ 1.000.63 I 2,000. 35% 5,000. 02% Un Rd of S F 4s 7,000. 62' -> ctfs of deposit 6.000. 62% 1.000. 33 do inc 6s | U S Realty & I 5s 23,000. 18%' 2,000. 77 Illinois Steel 41>.s iU S Rubber 7s 2.000. 85 i 3,000.104 Indiana Steel 5s I do 5s 5.000. 97 I 5.000. 88% 5.000. 97%! 2.000. 88% 2.000. 97 ' 2.000. 88% 2,000. 97%. 0,000. 89 .ntbo-Met4i% ' U S Steel s f 3s 10,000. <?-0% 7.000.100% 2.O00. .10'% 43.000. . ,100 15,000. 40% 72,00-!.100% do ctfs of deposit Va Iron (; & C 5s 17,000. 40 | 2.000. 35% Intbo P T rfg 5s I Wabash lst 5s 1.000. 733.4 9,000. 96% 15.000. 74 : West Maryland 4s 5.00". 73% ,1.000.61% 3,000. 74 'West Shore 4s 1,000. 74/4I 1.000. 793,;, Int Agricultural 5s 15,000. 79% 5,000. 83!/8| Wilson ft Co 6s 5,000. 82%; 4.000.1003,4 2,000. 823-4 do cvt 6a Int. M Marine 6s ?! 2 000 10?' 'a 50,000. 997? 8,000.102 36.000. 993i 4.000. ...10177. 1G.0O0. 99VRI 4.000.10134 19.000. 09% 2.OOO.101% 7,000. 99 I 2,000.102% Seeks Nation's Views on Railroad Legislation Referendum Asked by U. S. Chamber of Commerce on Ten Proposals WASHINGTON, Juno 11.?A series of proposals for remedial railroad legis? lation went out to-day to a referendum vote of the more than 1,100 commercial and trade organizations making up the membership of the Chamber of Com merce of the United States. They were '' prepared by the chamber's railroad committee. The recommendations advanced for a vote are ten in number and are sup ported by a report dealing with the consideration:; which led to the com? mittee's decision. The recommenda? tions contain the following proposals: Corporate ownership and operation, with eomprehensive regulation. Return of the railroads to corporate operution as soon as remedial legislation can be cnactrd. Adherence to the reriod of Federal con? trol as now fixed unless and until impossi bility of remedial legislation in this period closely appear.-. Permission for consolidation in the pub? lic interest. with prior approval by gov .rnmem authority. in a limited number of strong competing systems. Requiremenl that railroad companies engaged in interstate commerce become Federal corporations. with rights of taxa tion and police regulation reserved to the states. Federal regulation of capital expendi? tures and security issues of railroads en? gaged in intpr=tate commerce. with provi? sion for notice and hearing for state au? thorities. Federal regulation of interstate rates affecting interstate commerce. A Etatutory rulp providing that rates in each traffic section shall yield an ade? quate return on 11 fair value of the prop? erty as determined by public authority. Payment into a fund of a share of the fxc-Si earned by any railroad system under application of the statutory rule over an equitablc minimum return upon fair value of the property, this fund lo be used as Congress directs for strengthen inc general railroad credit and increasing general railroad efficiency. A Federal transportation board to pro mote development of a national system of rail. water and highway transportation and articula.ion of all transportation fa eilities. Grain Men Discuss Trade Agreements At the conference yesterday of the Federal Wheat Director with repre? sentatives of the grain handling and flour trades, the principal topic of dis cussion was the proposed trade agree ments. Several amendments to the ! tentative drafts were proposed. Other subjects discussed were the relation of markets, inter-mountain territory, ter? minal storage of wheat, Federal super ! vision of grades and country buying practices. During consideration of the terminal storage of wheat, an outline was given , of the bill now before Congress pro? viding for increased terminal facilities on the Atlantic seaboard. While these facilities cannot be made available in time to aid in the handling of this year's crops, the trade representatives ; in attendance were urged to impress upon Congressmen and Senators the imperative need of additional facilities. Suggestions made at the conference for improvement in methods of han ! dling the crop and for ameliorating 1 certain hardships under present prac ; tices were incorporated in the record of proceedings and will be considered later by the Wheat Director. -. Parsons Heads Woolworth Hubert T. Parsons was elected yes? terday president of the F. W. Wool worth Company, succeeding the late Frank W. Woolworth, founder cf the , (.orporation. C. S. Woolworth, a ; brother of thc founder, was named i chairman of the board, an office created at the annual meeting. j Three new directorships were filled i by the election of Arthur Sachs, of ; Goldman, Sachs & Co., Walter j Cook, of Buffalo; and R. W. Weber, manager of the company's San Fran i cisco district. Mr. Parsons, the new president, said l that the poliey of the Woolworth Com I pany will remain unchanged. Busi : tiuss in the first five months of tho cur I rent year showed a gain of $5,800,000 over thc correxponding period of 1918, he stated, and gross sales this year should reach $120,000,000. W. K. Vanderhtlt. jr., realgn'd ? preal dent of the Chlcago, cincinnati, Cleve? land tc 81. Ixjula Railroad Company, and ha* been aurceedert by A. H. Smith. Mr. Hmlth also takea the place of Mr Van d-rr,llt ae preaMjnt of the Canadian Southern, l.tike Erie * Weatarn, and all oth-nr aubeldlarlea of the rfew Yorlc Cen Savings Banks Oppose Bill for Home Loan Banks American Bankers' Associa? tion Section Attacks Cal der Plan as "Pernicious, Dangerous Legislation" The savings bank section of the American Bankers' Association yester? day launched a vigorous campaign against the bill introduced in the United States Senate by Senator Cal der, providing for the creation of a Federal home loan board and home loan banks ior aiciing in financing the construction of homes. John J. Pulleyn, president of the Emigrant Industrial Savings Bank and chairman of the committee on amorti zation of mortgage loans of the sav? ings bank section of the association, in a letu-r sent out to members of tho committee, characterized the Calder bill as "pernicious and dangerous." Promoted by Labor Department "The Department of Labor for thc last several months," said Mr. Pulleyn in his letter to the committee,' "has been furthering a campaign in conjunction with the United States League of Local Building and Loan Associations. Money was appropriated by Congress to th. Department ol' Labor to investigatc tho building situation. However, much ot' these i'unds has been utilized in the promotion of a campaign which reaches its crystalization in the introduction. ? of this bill. "The bill is pernicious, dangerous, and threatens a situation eventually detrimental to the sociai 1'abric. It seems that every Tom, Dick and Harry can successfully approach the Adminis? tration, and through the Administration reach Congress, with any new fangled idea designed to create a government bureau to take over the functions of business, and thus promiscuously use the credit of the government; justify ing their action by the solution of a temporary problem. "ln the recent canvass made by the United States Department of Labor among building and loan associations of the country to ascertain their at titude toward the proposed Federal home loan bank plan, the return 'was ?".7)0 in favor, 111 in opposition, and 562 neutral. "These Federal home loan bank? are designed to be used only by the building and loan associations. The bonds of these banks issued in the same manner as under the Federal Farm Loan system may be circulated up to twenty times of capital and surplus, but while the issues of bonds are restricted to this provision and ; must be secured by first twenty-year ' mortgages on real estate, the banks j have the power, on the other hand, to borrow money on personai security ? without. restriction. The right thus! given the building and loan associa- ! tions to indorse and guarantee mort? gages and other securities to such a central institution would abolish j present wise laws, limiting their debt incurring power and enable them to j pyramid on their credit. No Necessity for System "The seriousness of this departure is that in many states these associa- - tions have side-tracked their home I building function and are, in fact, verit ab!e savings banks. Consequently they ought not to incumber their de? posits with liabilities, or if they do SO and obtain fund in the open market, they ought not to be exempted from taxes." Aceording to Mr. Pulle.yn, there is no necessity for a Federal home loan bank system to cover a temporary need for funds. Dollar Rises in Argentina Gold Exports Cause Favorable Turn in Exchange BUENOS AYRES, June 11.?Aa a re? sult of goid shipments from Xew York and the removal of control by the gov? ernment on exchange transactions, ex? change on the American dollar has fallen 2% points in three days and the dollar to-day is nearer par than it has been for several months. The American dollar. which was worth 99 centavos in Argentine gold Monday to-day was worth 1 peso 1 % centavos Argentine gold. The par for the dollar is 1 peso ,'3% centavos Argen? tine gold. Retail Stores Plans To Absorb U. C. S. Interests back of the newly incor porated United States Stores Corpora? tion, organized under the laws of Dela ware with 100,000 shares of 8 per cent cumulative preferred stock, and 1,160, 000 shares of common stock, to oper? ate a system of chain stores through out the world, are considering the absorption by the new company of the United Cigar Stores Company of America, it was learned yesterday. George J. Whelan, head of the United Cigar Stores system, is president of the new United Retail Stores Corpora? tion. The common stock of the com? pany will probably be issued this week or early next week. The issu? ance of the 100,000 shares of preferred stock will not be made until some time later. This stock will be made avail? able to managers and other officials of the chain store organization who will be compelled to enter into agreements binding them to keep their holdings for a long period of years. Union Tank Line Increases Its Capital TRENTON, N. J., June 11.?The Union Tank Line Company, of 15 Ex? change Place, Jersey City, this after? noon filed an amended certificate of incorporation with Secretary of State Martin, increasing the capital stock from $12,000,000 to $25,000,000?250, 000 shares, par value of $100 each. The amended petition changes the name of the company to the Union Tank Car Company. Wall Street Items l.d.vln S. Atklns, Samuel M. Vauclaln ... M. H>rr nnd J. lt. McCune have been elected directors of tlie Wcstlng-house Electric a.ml Manufacturing Company, Walter T. Roaen. of I-adcrihurg. Thal inann & Co.. hu*. reslgjnerl aa a member of the board nnd of ihe finance com? mittee of lh<- Plerce OII Corporation. Application hns been made to the f'urb Market Aasoclatlon to list 200,000 nhar?s of atock of no par value of the Allied Packers, Inc. the newly organized ment packitiK coneern. Ii, D. Rohlnaon haji reatgned from the Federal Land Bank. of SprlnRfteid, M??..., and haa been elected president of the Coam.polltan Bank. of New York. GentralUnionTrust Gdmpany ofNewYork 80 BROADWAY NEW YORK FIFTH AVE-AT 6012? ST MADISON AVE- AT 42 SPS? FIFTH AVE- AI 38*5SX Capital, Surplus and Undivided Profits Over 30 Million Dollars A UTHORIZED to act as Executor, Trustee, Administrator or Guardian. Receives De' posits, subject to check, and allows Interest on Daily Balances. Acts as Transfer Agent, Regis' trar and Trustee under Mortgages. Receives securities for safe keeping and collection of income. GOMMERCI AL LETTERS ACCEPTANCES MEMBER FEDERAL RESERVE SYSTEM Senators Oppose I. M. M. Deal Say Sale of Ships to British Would Be a "National Calamity" WASHINGTON, June 11.?Proposed *ale hy the International Mercantile Marine Company of its ships to a Brit ish syndicate was opposed in the Sen? ate to-day by Senators Fletcher, of Florida, and Ransdell, of Louisiana. L.oth declared it would be a "national calamity" and "suicidal" to American shipping interests. "No greater discouragement," said Senator Fletcher, "could come to this country in its efforts to build up a merchant marine at the present time than for this sale to be made. The greatest question confronting the .American peopie to-day is the estab lishment of an American merchant marine. Of what avail is it to the peo? pie who are interested in the build? ing up of an American merchant marine to bend their efforts towards establishing a poliey of this govern? ment whereby we can have such a merchant marine as we need, if the greatest men who are now engaged in that business dispose of 703,000 tons of ships' at one time." Phila. & Reading Gross $16,570,754 in 1918 The Philadelphia <? Reading Rail? way Company, the chief subsidiary of the Reading company, for 1018 reports gross earnings of $16,570,754, an in? crease of ?2,1.08,771 over the prcceding year. The income available for divi? dends was $1,651,893, contrasted with $4,715,208 in 1917. The. decrease in surplus was accounted for by an in? crease of $2,298,959 in deductions from gross income and an increase from $3,785,380 to $6,858,568 in the income appropriated for- investment in physi? cal property. In the annual report, which is issued i to stockholders to-day, it is stated that only a portion of the $15,868,331 standard return fixed by the govern? ment had been received up to the close of the year. It was recalled that the Philadelphia & Reading is one of the componies that have not yet executed its agreement with the director gen? eral. Extras Ohio Fnel Supply Company.?Extra dlvl? dend of 'J per cent, payable in r.lbertv ponds, has br-cn declared In addition tb the regular quarterly dividend of 2*4 per cent, both payable July 15 to stockhold ers of record Juno 30. United Shoe Machinery Company.?Extra dividend of $1 haa been declared. in acltlttlon to the regular quarterly dividends ot 50 cents on the common and 37V4 cents on the preferred stock. all payable July " 1? stockholders of record June IS. Miilioning Coal Kailrou4 Company.? An extra, dlvldend of $15 per share has been declared on tho coinmon stock in ad? dition to the regular semi-annual dlvl? dends ol _',, por o-nt on the preferred and 55 per share on the common stocks. The preferred and extra dlvldends are pay? able July 1 to stockholders of record ?lune 21, and the common dlvldend ls payable August 1 to stockholders of record July Id. Regular Deelarations _,?. _ , _ Stkholders a e- . -, _rorIo<1- Payable. of rcrd. Argonaut C Mng, 50c, Q..June 25 June 14 Ashevllle Pow pf, 1 \, Q . . July 1 June 14 Amer lyprf com, 1, Q.luly 15 July 10 ilo pf, l}i, Q.ruly 15 July 10 Ati Su Rfng pf. l*i, Q.j?|y j Jun^ 12 Canada Sou. 1V4, S-A.Aug 1 June 30 Oarolna Power pf, 1%. Q. July l .june 14 Certain-T Prd lst pf.Hi.y.July l Juno 20 r. "'' 7 viY' '">? 9.lli]y 1 June 20 Detroit Rlvr Tunl. 3, S-A.July 15 July 7 Guantanamo Su, $1.25, Q.July i june is Ingersoll-Rand pf. 3, S-A.July 1 June 21 nt Buttonhple Mch 1. Q. .July l June 16 kanawa & Michg, li... y.June 30 June .3 Middle States OII, 1. M....Tuly 1 June 20 Nati Brewerles, 1'?_?, y.luly 2 June 10 Otla Blevator pf, $1.60, Q.July 15 June 30 do com, $1.25, Q . .July IR June 30 Ottawa Car Mfg. 1. Q.fuly 1 June 15 gttawa Traction, l. Q.....July l June 15 Reece PoldlnB Mch,-3. Q.July l June 16 l-.-gal Shoe pf, 1 %. Q.luly 1 JunB 20 Savoy OII 3. Q .June 25 JunelS Toronto, Hm & R, 1'., Q.July 1 jun8 21 Unttod Obb Imprv, 2, Q.....Tuly is June 80 \\ itbanso Cptton, 14, Q. . .July 2 JunelS ?*2\<;l"lnl""- 1*4. Q.luly 15 June 20 Tadkin Ryr rw pf. i%, Q.Juiy j Junr fi ?Wilson t.Cn enm, IVi, Q..Aug 1 July $1 do yf. 1%. Q.July i jUne24 ercantile Marine Company A large number of shareholders of the International Mercan? tile -Marine Company have reached the conclusion that the proposed sale of the assets of the International Navigation Company, Ltd., would not be advantageous and advisable, nor for the best interests of the Preferred and Common Stockholders, beeause it would in volve the dissolution of the International Mercantile Marine Com? pany as well as the sale of a fleet of vessels that could not be dupli cated at any price in less than three years and then only at a cost large]y in excess of that now offered, and would be opposed to the national poliey of upbuilding the American merchant marine at this time. Beeause of these conclusions, and otl^er considerations, the un dersigned Directors of the Company have consented to act as a proxy committee to vote in opposition to the sale, and the American International Corporation, the largest stockholder of the Company, and other important stockholders both Preferred and Common have advised this committee that they will issue their proxies in its favor. The meeting is to be held on Monday, June 16th, and it is therefore imperative that stockholders who are opposed to the sale should immediately execute and mail their proxies to the UNITED STATES MORTGAGE & TRUST CO., 55 Cedar St., New York City, where forms of proxies may be obtained. JOHN W. PLATTEN, FREDERIC W. SCOTT, Proxy Committee. June 10, 1919. MEETINGS_ NOTICE. TO THE MEMBERS OF THE REPUB? LICAN CLUB OF THE CITY OF NEW Xotlce ls hereby given that a special meet? ing of the members of the Republican Club of the City of New York will be held at the Club House, No. 64 West 40th St. ln the Horoueh of Manhattan. City of New York, on the SEVENTEENTH DAY of JUNE. 1919. at eight o'clock p". m., for the purpose r.f voting upon tlie proposition to change the name of tlie Republican Club of the City cf New York, to National' Republican Club Inc Under the By-Laws of the Cluh, voting is restrlcted to resident members. Dated. May 25, 1919. CHARLES D. HILLES, President. OSCAR W. EHRHORN. Secretary. Victory Note Conversion Tho Federal Reserve Bank of New York announeed yesterday that in ac cordance with the regulations pre scribed by the Secretary of the Treas? ury governing the exercise of tho con? version privilege of Victory Liberty Loan notes, a holder of the 4% per cent Victory notes or of the 7_i; pCr cent notes may, after July 15, have his notes of either series converted at par into notes of the other series, with an adjustment of interest. The difference in interest borne by the two series of Victory notes is l per cent a year. If the 4% pPr cent notes are converted into 3% notes, the interest adjustment is in favor of the holder. If 3% per cent notes are con verted into 4% cent notes, the interest adjustment is in!favor of the govern? ment. DIVIDEND NOTICES Bethlehem Steel Corporation. Notlre of Dividends on Eight Per Cent. Cumulative Convertible Preferred Stock; Seven Per Cent. Non-Cumu lutive Preferred Stock; Common Stock and Class II Common Stock. The .second Instalment of 2% of the elrht per cent. dividend upon the Eight Per Cent. t umulatlve Convertible Preferred Stock and tha second Instalment of i%,<~0 0f the seven per cent. dividend upon the Seven Per Cent. Non-Cumulattve Preferred Stock of Bethlehem ?steel Corporation, which were declared on January 23. 1919, and the 1%% regular dlvl? dend and the %% extra dlvldend upon the tiiinmori.Stock and Class B Common Stock a Y?6.. 01"Poratlon- which were declared on fi?,,.1 .24' -1919, wln be Payable on July 1. 1919. to th. respectlve holders of record of said four classes of Mock at the close of business on June 16. 1919; the third Instal? ment of said dividends on said Eight Per Cent. ci-mulative Convertible Preferred Stock and on said seven Per Cent. Non-Cumulative qroerr,ed ?H?ck WlU b? P*y???? on October 1* 1919. to the respectlve holders of record' iRe7?i,?'t.tn*eM1?'? ?f ?u"ne? on, September 15 1919; and- the fourth. on January 2. 1926. 12? ??re8p<.eCKUvf holderB ?f record thereof at the close of business on December 15. 1919. Checks will be mailed. Dated. June 2. 1919. _R- E- McMATH, Secretary. UNITED FRUIT COMPANY DIVIDEND NO. 80 hatf Trl^ f'rld"d ot two and one -r . 1-,re ,n Vh? a"d <???'?>?? dollar. 'mn Lk capital etook of this iui ;5 19 9 tn ?r ''rlared- p?yab.?. on the c ?... nf h.,.i, tOCk ,o|0'r? of record at tne close of.busli.C8B June 20. 1919. JOHN W. DAMON, Treasurer. AMERICAN CAN COMPANT A quarterly dlvldend of one and three quarters per cent. has been declared 1 ,h Preferred Stock of thia Company navabU July 1, 1919. to Stockholder, *f rePmrt ?f the close of business June 17 i*i? nv.?. fcr Books will remain w"b&&i ^SEJ ? K. H. 1S.MON. Secretary and Treaaurar. DIVIDEND NOTICES BRITISH-AMERICAN TOBACCO COMPANY, LIMITED. NOTICE OF DIVIDEND TO HOLDERS OF SHARE WARRANTS TO BEARER FOR ORDINARY SHARES: Notice it hereby given that the Directors have declared a Third Interim Dividend on the Ordinary Shares for the year from the lst October, 1918, to 30th September, 1$19, of 6 per ctaL (being ls. 2Z-5d. per share), free of British Income Tax. payable on th* Thirtieth June, 1919. Holders of Share Warrants to Bearer for ordinary shares will be entitled to be paid the said Interim Dividend on or after the said 30th day of Jnne, 1919, at the ofice of the Gnaranty Trnst Co. of New York, 33 Lomhard Street, London, E. C. 3. Coupon No. 72 most be left for examination at the ofice of the said Gnaranty Trnst Co. ef New York, 33 Lombard Street, London, E. C. 3, threa clear business days (excluding Satur? day) before payment ts made. Dated, 22nd May, 1919. By Order A. M. RICKARDS, Secretary. Westminster Home, 7 Millbaak, London, S. W. 1. The Chase National Bank of the City of New York The Board of Directors haa dealared a quarterly dlvldend of *% on tha capital stock of thia bank payable July 1. 1919, to etockboldero of record at tho close of bual neaa Juna Ji. mt. Tha transfer booka will not close. A. C. ?NDltBW* CaahMf Juna ll, l?jj.