New-York tribune. [volume] (New York [N.Y.]) 1866-1924, January 04, 1920, Image 29

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New-York tribune. [volume], January 04, 1920, Page 7, Image 29
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 04 Jan. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-01-04/ed-1/seq-29/>

Newspaper Page Text

Heavy Buying Puts
Industrial Shares.
Up to New Levels ?
High
Points on Current
Movement Reached by
Active Bidding; Strong
Technical Position Shown
Uomentum of advancing prices for
industrial shares carried through yes?
terday's two-hour session when heavy
hnving pushed many of the specula?
tive favorites to new, highs for the
movement. It was quite evident that
the break in call money fates from 15
to 6 per cent late Friday had created
? much better sentiment among the
trading element, and the ease with
which pool operators moved up their
specialties brought in a strong follow
1 Vigorous strength displayed by
United States Steel common stock,
which advanced to 108-\, the highest
level since the wide-open break
of November, helped the whole list.
The action of industrial stocks gener?
ally backs up professional opinion in
the Street which, for some time past,
has held that stocks had been thor?
oughly liquidated, were in strong
hands and in a strong technical posi?
tion by reason of the fact that many in?
vestors who sold to establish losses in
the closing days of last year have not
bought their stocks back.
Until the money situation becomes
much easier, however, it is not believed
that the important financial interests
will undertake any really constructive
operations in the market. Indications
are that after the middle of the cur?
rent month the tension in money will
relax and permit of an aggressive cam?
paign for higher prices. Generally
speaking, the financial community is
looking for a higher range of quota?
tions Before 6pring. Speculative syn?
dicates are still carrying a lot of stock
that can only be distributed profitably
at higher prices.
Among the strong spots in the mar?
ket yesterday were United States Rub?
ber common, Stutz Motor, Corn Prod
nets, International Paper, Goodrich
?ubber, General Motora, Otis Steel,
aldwin Locomotive and United Fruit.
-.-? , , ?
Money and Credit
Bank Clearings?Bank clearings yes?
terday were:
Exchanges. Balances.
Baltimore ... $20,012,971 $7,165,816
Boston . 98,336,309 17,803,442
Philadelphia.. 107,8,26,^20 24.016.5&4
?ilver?London, 76%d; New York,
$1.30%; Mexican dollars, $1.00*4.
The Dollar in Foreign Exchange
Foreign exchange rates made ,few
important net changes during the last
week, although qudxations for pounds,
francs, lire and marks were slightly
lower yesterday than at the close of
the previous week.
Perhaps- the most interesting de?
velopment of the week in the foreign
trade situation was the announcement
of the formation of the Foreign Com?
merce Corporation of America, which
will be owned by J. P. Morgan it Co.
At the same time the plans of the re?
cently organized Foreign Finance Cor?
poration, which may function as an in?
vestment trust, buying European se?
curities and selling its own debentures
to American investors, were revealed
in broader detail than before.
On New Year's Day a report, which
Cabinet members and bankers imme?
diately stamped not only as false but
also as ludicrous, was published to the
effect that Great Britain had received a
pledge at Washington for the support
of a $13.000.000,000 loan in this coun?
try. The British Treasury, through
J. P. Morgan &. Co., its fiscal agents,
denied that it was seeking a large loan
in this market, and some private bank?
ers expressed the opinion that it was
unlikely that the British'government
would seek any large loans to finance
its operations in this country before
the Anglo-French loan of $500,000,000
matures nejet October.
The financial needs of the Latin
American countries will be set forth at
the Pan-American financial conference
at Washington later in the month. New
York bankers in touch with the situa?
tion assert that, broadly speaking, the
industries of the Continent are flour?
ishing, but that the finances of the fed?
eral governments are somewhat uncer?
tain, inasmuch as they have large float?
ing debts which need to be funded.
If you calculate the cost of the dollar
in terms of foreign money at current
exchange value, that is, if you were
buying dollars with pounds, marks or
francs, its value at the close of last
week, as compared with a year ago, j
follows:
Cost of one dollar
Yesterday Year ago
In English money.$1.30 $1.02
J? French money. 2.18 1.05
In Dutch money. 1.07 .95
fn Swiss money. 1.05 .94
In Swedish money. 1.24 .95
In Italian money. 2.52 1.23
In Spanish money...... -.99? .97
(Quoted dollars to the pound.)
Week
Yesterday, ago.
Sterling, demand. $3.7850 $3.7925
Sterling, cables. 3.7950 3.8025
?Sterling, sixty days.. 3.74 3.7375
Sterling, ninety days.. 3.72 3.7250
(Quoted units to the dollar.)
Francs, checks. 10.77 10.61
franc?, cables. 10.75 10.58
Belgium, francs, chks. 10.75 10.30
Belgium, francs, cbls. 10.73 10.32
?Art, checks.^ 13.27 13.05
Lire, cables. 33.25 13.02
Swiss francs, checks.. 5.60 5.55
Swiss frar.cs, cables.. 5.58 5.53
(Quoted cents to the unit)
Guilders, checks.k 37.50 37.55
Guilders, cables.?876.25 876.25
Austrian crowns, chks. .55 .67
Austrian crowns, cbls. .57 Jj'.\
Sweden, checks. 21.60 21.45
Sweden, cable?. 21.60 21.60
Tjenmark, checks.. 19.10 19.80
Denmark, cables. 19.20 19.90
Norway, checks. 20.30 20.45
Norway, cable?. 20.40 20.65
retetas, check?. 19.15 19.30
Pesetas, cables. 19.25 19.40
Mark?, checks. 2.00 2.10
Marks, cabios. 2.02 2.12
3m*c*i checks. 15.00 1 ?,.:',!)
Greece, cables. 16.06 15.45
Manila, checks. 44.75 48.75
Manila, cable?. 49.00 49.00
{?da, rupees, checks.. 44.75 46,60
y1"'*? rupees, cables.. 45.00 47.00
?Japan, yen, checks_ 50.50 50.50
Japan, ytn, cables-608.75 50.58
*r?entina, checks.102.40 102.50
Argentina, cables -101.90 102.20
KfBzi , Rio, checks.... 27.75 27.75
?mil, Rio, cable?_2H.0O 28.00
?'Zecbo-Hlovakia. chks. 2.8 ??.8
??. * .'
Dividend? *
th!?*1!'.?! !*? "??-Id- tarmmtir roan?e-*r t,
"i?idZL *?Cn^ b*? 5?come * m?r/ib<sr o
w ?- S******* A '-'"
liaioftifl^fi1 &.<;" tir" o?ot?nm at p?
"?, ! it10?,h,5 * "?ht'oi u ^c ?*?X bot?l* ?
tSL ifiizS 5*S*,P*?5 L i?t?, *n?1 will me
'l?^i??..K*'.,,!''*1 ''"'""*? ??* ?no *ll taxa
ibl? ? lh* ***** of Ai*t>?//<*, (,.,4 ?<?, ??IK
?tM. ?**;y/* jw?uj *i*vif.?? ?mporito.
e?SSS .../V?"" Beltfaan Is now mneo
/.*.,T3?r"h W""*i" Car??*!* ts?*n ?. z
r?r? ?S?i?f** ,?in Vfi;? ?weis?*? lo w#w
Tvfk public utility bon*?, s
mdSS&^t* * *'?'? aeaeaiw? ?h?? ovrntnh
Ti Jf.?* ?* th*'r "H*'*?* "t mn.no't ?hare?
.,?-? A ?l'w:1* '* t'1* *'>**?***?. Oil >:<>r
'w*tli,M ?. ?,, ,)tfKXsn% prU* <.r tr, ?
*?*?*. V"> ?*?*?? ''""', Comptent b*?
t- ^'?TT,-.*1^'"" *" r??1?tra? *M ib? Arm-riv
*t*sa? *"n"-"'/ "?"???t'" ??'?'" i?t l
Transactions Yesterd
Summary of Stock Exchange Dealings
Stocks
Yesterday. Befo?. ag" 1920 J""ioTa1 U *?*?_, ?a
?!*** . **>? 1W.100 6-1,800 A 414L M ?00
?_ft__S_-ta . 827'40? 979'700 20410? ?27?OO 1,iiJ1S iS-'-W
A" ?t*ck" . ? 876'500 M?.*? 273,900 .,139.300 ?i-So ?jS^
Bonds
IT _ _ Yesterday. Day before. Tear ago. 1920. 1919
?\,S- Govomment.$6.482,000 $12,672.000 $2,914,000 $16,998,000 $27182 000
?V,r0"?8 :. 1.021,000 2,144,000 1881 000 3,135 000 6 439 000
O her bond, . 1,261,000 8,293,000 1,346 000 3 454 000 Il14 000
A" bonda .?. ??764,000 16,979,000 6,611.000 23;587;000 at ??ooO
High. Low. Dlv. " ^
1919. 1919. Rate. Ba]M. Op?,. High. Low. Close, chge. Bid. Aak.
64N 29% ? Adama Expresa .... 300 33 33% 33 33 4-1 31 33
L ... A."_ R-?b.b_er?. 180? 85 88^ 85 8fl +2 ?6 ?7%
?*% 1% ?? Alaaka Gold M. 300 2 2 2 2 ?? 1% 2
3% 13/4 ? Alaska Juneau . 600 2% 2!4 214 2V_.+ I/- oi/_ 21/.
61% 30 _ AHIs-Chalmcr? C. .. 6800 63% 53%' .B2% 53 - % 62% 53%
~~ ~" ? .Allls-Chalmers pr ... 100 62 92 92 92 4- 1 91 937/
1133/4 87 8 Am Agr Chem. 300 94% 94% 94 94 X % 94 95
IOI34 62 8 Am Beet Sugar. 300 95% 95% 95 95%+ % 95 95%
?143% ?41/, 8 Am Bosch Ma,. 600 127 127? 126 126 - 23/* lI-% 126
6 51/4 ? Am Bosch Mac rt?.. 600 7 71/4 7 7%+ 14 ? _
68% 42*. i ? Amer Can Co. 23100 60 61% 6914 61!/.+ 4% ?1i/_. 61'A
107.4 98 7 Amer Can Co pr.... 200 101 101 101 101 1-7" 100 10
148% 84!/8 12 Am Car A Fdy Co.. 3500 142 143?4 141% 142% + % 1423/1 143
67% 39% 4 Am Cotton Oil. 4600 63>/4 54% 52% 54%+ 1% 54 ?L
141/4 10?4 .80 Am Drug Syndicate. 4500 12% 12% 12% 12%+ % 12!/, 12%
.__.? _.?.> T -_-m Hide * L??t??er. 1200 30% ZQ% 30^4 30%+ % 30% 30%
142% 71% 7 Am Hide & L pr.... 400 122 122 121% 122 4-1 122 1221/
1H'/4 5_/8 6 Am Int c?n??????-? 16600 120 1201/2 119' 119%+ '/4 119% 119%
89 44% 3 American Linseed... 1500 76 77% 76% 77 4- 1 76?4 77
117% 68 6 Am Locomotive. 10900 105% 105% 10494 105%+ 1 10514 105%
47% 26% ? Am Ship Com. 9700 28% 30 28!/4 30 + 2% 29?4 30
803,4 01"/, 4 Am Smelting .-3200 71% 72 71 71 4- % 71 7.V/a
140 101!/, 8 American Snuff . 200 110% 1133/4 110!/4 II334- 108 .114
47 34% 3 Am Steel Foundry... 2200 45 45 44% 44%? % 443/4 45
148% 111% 7 American Sugar ... 600 140% 140% 139% 139%? % 139% 140
120'/, 73 10 Amer Sumatra . 2200 98 98% 97% 98%+ % 98 98!/?
100 92 7 Amer Sum Tob pr.. 200 81*/, 92'/, 91'/2 92%+ 1% 91 93
76% 65*/, 5 Amer Tob Sec. 15900 74% 74% 73'/2 73%? % 73?/2 733,4
108% 95 8 Amer Tel ft Tel.... 1400 96% 97% 96% 97%+ %' 97 97%
169'/, 45% 7 Amer Wool . 2600 163 163 161 16134? 134 161 16134
69 27%? Am Writ Paper pr.. 3100 60% 61% 60 61% + 1% 61% 61'/2
I?,/ ___/ "7 A,n z?nc & Lead.... 1600 18?/, 18% 18!/4 18%+ % 18*/, 18%
77% 84% 4 Anaconda . 4000 64% 64 64% 64/2? >/- 64% 65
9% -1 ? Assets Real Co. 400 6% 6% 6 6 ? Ve 6 6%
?5*/2 17% ? Assoc Dry Good?.... 4400 67% 67% 65 6534? i/4 65% 66
<!_- ?1 ? As Dry Goods 1st pr. 200 73% 74 73% 74 + 1% 73?/, 74
104 80*/, i 8 Atchlson . 800 84% 843/4 84 843/4+ ^4 84% 85
89 76% B Atchlson pr . 400 82 82 82 82 + 8'/, 80 81%
___.., 8_.% 7 Atl Coast L,n". 600 81 92T/? ?1 fl2%+ 2!/a 91 % ?3
162% 82 10 Atl, Gulf * W I.... 2000 176 17? 174 174*/,+ 8% 174 174*/,
164% 84% 3% Baldwin Locomotivo. 40600 118% 120% 118"/, 120%+ 2% 120"/, 120%
111% 100 7 Baldwin Locomo pr.. 100 102?/, 102% 102% 102*/,+ . % 102 102>/a
66/4 28%? Baltimore & Ohio... 1400 331/4 33% S2!/4 33 ? */4 82% 83%
69V, 38'/, 4 Bait ft Ohio pr. 100 47% 47*/2 47i/2 47*/,+ % 47% ^48
145 103 8 Barrett Co . 2700 134% 134% 1333/4 134%+ 2*/2 134 134%
112 65% 5 Beth Steel, Class B.. 37800 98% 102% 98% 102%+ 4</? 102 102%
116 101% 8 Beth Steel 8th pr... 200 112% 113% 112% 113%+ % 113 114-'
33% 10 ? BUyn Rap Tran. 700 12% 12% 12 I21/4? % 12 12%
28% B ? Bkyn Rap Tr ctfs.... 200 7 7 7 7 ? % 6% 7
25 11 ? Booth Fisheries . 800 13% 13% 13 13'/4+ % 13% 13%
45 26 ? ,Beth Motor? . 8800 31"/4 31 ?A. 30% 3II/4+ % 31 311/4
166 115 10 Burns Bros . 100 119 119 119 119 - 119 120
17 BVa Vz Batte Cop ft Zinc... 210? 8% 9% 9 9%+ % 9 9'/4
37% 16% ? Butte ft Sup Copper. 1700 27% 27% 27% 27%+ % 27% 27%
64'/4 19%? Caddo Oil . 7000 22% 26?4 22% 26%+ 434 26% 26%
87% 48% 8 California Packing... 700 84 84% 83% 843/,? % 84, 84%
66% 20% ? California Petroleum. 2200 45?? 46 45% 46 +1% 4534 46
863/4 66% 2 Calumet ft Arizona. 200 66!/2 67% 66% 67%? % 68 69
170% 126% 10 Canadian Pacific ... 1100 133% 134 .133% 134 + 1% 133% 133%
101 91% 7 Case, J. I., pr. 200 100 100 100 100 - 97 100
116% 66% 5 Central Leather _ 6600 103% 104% 103% 104%+ 1% 104 104%
120 107 6 Cent ft So Am Tel.. 300 115 120 115 115 - 114 117%
?7% 31 4 Cerro de Pasco.. .. 2900 60 61% 60% 60%+ % 60% 60%
141% 90 8 Chandler Motora_ 1400 135% 136 135 136 +1 136 136%
68% 51% 4 Ches ft Ohio. 100 56% 56% 56% 56%+ 1 56% 67
17% 4 ? Chic ft East 111 pr... 200 6 6 .6 6+1 5 7
12 7% ? Chic Gt West. 100 9 9 9 9 4- % 8% 9
30% 21 2 Chic Gt West pr_ 200 24 24% 24 24%+ 1 24 25
623/4 34%? Chic, M & St P.... 1400 37% 38 3734 3734- 37% 38
76 48%? Ch, M ft St P pr.... 1400 53 54 53 54 + % 53% 64
105 85 7 Chic ft NVest. 400 87% 87% 87% 87%+ % 87% 88
113% 72 6 Chic Pneu Tool. 600 105% 106% 105% 106%+ 2 106% 10634
32% 22%? Chic, R I ft Pac. 200 28% 28% 28 28%+ % 28 28%
43% 37%? CocaCoIa . 700 40% 40% 40 40 ? % 40% 40%
69% 67 ? Cleve ft Pitts. 50 65 65 65 65 - 65 ,80
29% 16%? Chile Copper . 2400 21 21% 20% 21 + % 20% 21
50% 32% 3 Chino Con Copper... 2800 41% 41% 40% 41+1 41 41%
1C8 60% 6 Cluett Peabody . 100 106 106 . 106 106 - 106 106!/.
56 343,4 3 Col Fael ft Iron. 1700 43 44% 43 44%+ 1% 44 44%
69 39% 4 Col Gas ft Electric. 1200 64% 64% 64% 64%+ % 64% 65
31% 19 ? Col & South. 200 23 23 23 23 - 22% 24
75% 5034 1 Col Graph .,_ 3600 64 64 6234 63%+ % 63% 64
15% 10% 1 Con Candy . 500 13% 13% 13% 13%+ % 13 13%
37% 30%? Consol Textile . 1600 31% 31% 30% 30%- 30% 31
106% 78% 7 Consol Gas . 400 85 85 85 85 ? % 85 86
23 6% ? Con Int Callahan M. 3100 20 20% 19% 20 ?? 20 20%
IO334 65% 7 Cont Can ..,,. 2200 91% 93% 91% 92.-_+ % 92% 93
75 54 ? Consol Cigar? . 100 62 62 62 62 - 61% 62
99 46 ? Corn Products . 16800 87% 90 86% 89%+ 3% 89% 89?4 I
261 62% 12 Crucible Steel . 3400 224 224% 221% 221%+ % 221 222
105 91 7 Crucible Steel pr_ 100 9934 99% 9934 99%+ 2% 99% 100
410 150 10 Cuba Amer Sugar.. 150 407% 40734 407% 40734-f- 5% 400 410
55 20% ? Cuba Cane Sugar_ 3200 53 63% 52% 52%+ % 52% 53
87% 69% 7 Cuba Cane Sugar pr. 100 84 84 ? 84 84 - 84 85
272 172% 10 D, L ft W. 2?0 191 191 191 191 + 1 192 196 !
15% 3% ? Denv ft Rio G. 100 9 9 9 9 + 1% 7 9
24 6% ? Denv ft Rio G pr... 1200 13 13% 13 13%+ % 13% 13%!
1?V4 10%? Dome Mines . 100 13 13 13 13 ? % 13 13%,
6% 2% ? Dul, So Shore ft Atl. 100 4 4 4 4 ? % 4 4% i
43 23%? Elk Horn Coal. 500 26% 26% 26 26 ? % 25 26% |
101 88 7 Emerson-Brant pr .. 100 91 91 91 91+1 90% 92
150 80 6 Endlcott-Johnson ... 900 143 144 142*4 143 + % 142% 143% I
10634 101% 7 Endlcott-Johnson pr. 100 104 104 104 104 ? 103?4 104
20% 12%? Erie . 1400 13% 13% 13% 13%+ ?/, 13% 13%
33 18%? Erie 1st pr. 1400 20 21% 20 21 + 1% 20% 21%
23% 1334? Erie 2d pr. 300 14% 15 14% 13 +1 14% 15%
123 83 8 Famous Player? .... 2900 93 94 92% 93%+ 1% 93% 93%!
55 39%? FUk Tire . 13700 46% 48 46% 47 +1% 47 47% ;
64% 31% ? Freeport T?as .... 2000 36 36% 35% 36 + % 35% 36% '
383/4 15 ? Gaston Williams ... 2200 18% 19 18 19+1 18% 19% I
95% 47 6 General Cigar . 2900 74% 75% 73% 76 + % 75 75%
106 90 7 General Cigar pr_ 200 94 94 94 94 + % 94 95 \
176 144% 8 General Electric Co. 300 171 171 170 170 ? 2 169% 171
406% 118% 12 General Motors _ 6200 340 344% 338% 344 +6 343% 344.a 1
95 80 6 General Motors pr... 400 88% 8934 84% 893/4? % 89 91 !
94% 82% 6 Gen Motors 8% deb. 1400 84% 84% 81% 84?4+ % 84% 85
5334 463/4? Gray ft Davis. 200 49 49% 49 49%+ 1% 48 49
93% 56% 4 Goodrich, B F. 22100 81% 85 81% 8434+ 3% 84% 85
109% 102 7 Goodrich, B F, pr... 300 102% 10234 102% 102%+ % 101?4 102%
80 47%? Granby Mining . 300 55 55% 65 55+2 64 55
100% 75% 7 Gt Northern pr. 1400 80% 81% 80%' 81 + % 81 81%
62?4 313/4 4 Gt North Ore subs... 6500 40 41 40 41 + 1% 40% 41
47% 32% ? Greene-Cananea Cop. 600 37% 38% 37% 38%+ % 38 40
89% 49%? Gulf SUtes Steel.... 700 79?4 80 79% 79%? % 79 80
71% 40 4 Haskell ft Bark Car.. 900 61% 61% 61 61?i+ 34 61? 61%
104 86 7 Illinois Central. 200 89 9034 89 90?4+ 13/4 83% 91
3734 10% ? Intemat'l Agrleal... 100 22% 22% 22% 22%+ 3% 22% 25
91% 48 5 Infl Ajt-ricul pr. 200 82 83 82 83+2 83 85
68% 42% 6 Inspiration Copper... 3000 61% 61% 61% 61%+ % 61% 61%
91/. 314. _ Int Cons Corp. 500 4 4 3% 3%? % 3% 4
31% 10%? Int Con? Corp pr.... 1000 12% 12% 11% 1134+ % 11% 12%
149% 110% 6 Int Harvester Co.... 400 134 134 133 133%- 131 134
0734 21%? Int Mercan Marino.. 8600 51% 617, 80?4 51%+ 1 61% 61%
128% 92?4 6 Int Merc Marino pr. 4600 110% 111% 110% 110%+ 34 11034 111
82 30% ? International Paper . 18900 873/4 89% 87% 88%+ 2 88 88%
1Cb% 95 6 Internat Paper pr.. 400 110 110 10834 108344- % 108% 110
80 62 6 Inter Paper pr ?tpd. 300 7934 79% 79% 79%+ % 7934 80
33% 20% ? International Nickel. 6000 2434 25?4 24% 26%+ 34 ? 25 25%
70 63 6 International Salt .. 200 70% 70*4 70% 70%+ 34 70 70%
65 34 ? Iron Prod . 3000 44 45% 43% 43%+ 2 43?4 44%
91 38% 7 Jewel Tea pr. 200 42% 42% 42% 42%? % 42 45
130 105 8 Kayser, Julius . 100 115 115 116 115 - 115 120
25% 13 ? Kansas City South.. 700 1634 16 163/4 16 + % 16 16%
164 68 4 Kelly Springfield ... 1100 146 149 146 148%+ 2% 148 14834
115 34 ? Kel?ey Wheel Co... 10? 88 88 88 88+8 88 89
43% 27% 2 Kcnnecott Copper .. 10800 32% 32% 32 32%+ 1% 32% 33
126% 38% 1.20 Keystone Tire . 6600 46% 48% 46% 48%+ 2% 48 48%
IO734 62% 6 Lackawanna Steel .. 7600 8934 91% 89% 91 + 2% 00% 91
60% 40% 3% Lehigh Valley,. 1000 43 43% 43 43%+ % 43 43%
40 21 ? Lee Rubber ft Tire.. 2100 37% 38% 37% 38 + 1 3734 38
81% 40% ? Loose-Wiles Bi? Co.. 100 70 70 70 70+8 70 71
27% 25% ? l_?ft Candy . 3900 27 28 27 28 + % 28 28%
245 147% 12 Lorillerd, Pierre_ 100 180 180 180 180 ?8 180 185
66 63 4 Mackay Cos pr. 100 64 64 64 84 - 69 74
38% 28 ? Manhattan Shirt .... 100 3234 3314 32*4 33%+ % 33% 33%
137 130 7 Manat? Sugar . 400 135 136 135 136 +1 135 136
61 26?4 ? Maxwell Motor . 1700 32% 34% 32% 34%+ 1% 34% 35
84% 60% ? Maxwell Mot 1?t pr.. 200 62% 63 62% 63+1 63 64
46% 19%? Maxwell Mot 2d pr.. 100 30% 30% 30% 30%+ % 80% 32
131?4 ?0 ? May Dept Store?... 300 129% 129% 126% 125%? 3% 126 129
264 1623/4 10 Mexican Petroleum . 3900 220% 222 218% 219?/,- 219 220
32% 21 2 Miami Con Copper.. 600 25% 25% 25 25%+ % 25% 26
71% 32 1_K> Middle State* Oil... 4000 60% 66% 65% 06 + % ?5% 66
62% 40% 4 Mldvale Steel ...... 7100 61%. 62% 61% 62?4+ 1% 62% 62%
2414, 9% ? Minn ft Ht L new.. 200 13% 13% 13% 13%+ 1 13% 13%
16% 4% ? Mo, Kan? A Tex.... s 600 9% 9% 9% 9% + % 9% 10
25% 8% ? Mo, Kan? ft Tex pr. 200 14 14 14 14 + 1% 14 14%
_8% 22% ? MlMoorl Psclfle .... 800 26% 28% 26% 26%-f % 26% 26%
68% 37%? Missouri Pacific ?r.. 2200 41% 42% 41% 42%+ % 42 42%
63% 40 3 Mullin? Body . 200 47% 48. 47% 48 + 1 47% 49
43% 29% 3 National Acm? . 200 37% 37% 37% 37%+ % 37% 37%
139 107 7 National Biscuit ... 200 125 125 126 128 + 1% 123% 125
76 46 ? National Aniline ... 1200 72% 72% 70% 70%?2% 68% 71
92 70 6 Nat Cloak ft Suit... 100 80 80 80 80 + 2 . 78 82%
24% 8% ? Nat Con ft Cabio.... 600 10% 10% 10% 10%+ % 10% 11
88y? 45% ? NaU Enamel ft fltpg. 600 89 89% 88% 88%? % 88% 89
84% 64 0 National Uod . 200 83% 84% 83% 84 + % 84 84%
112 102 7 National Ls_4 pr.... 100 110 110 110 110 + % 109 110
21% 13% 1% Nevada Con Cop.... 200 16% 16% 10% 16%- 16% 16%
60 28% ? Now Or, Tea ** Me'k, 200 44 44 44 44?1 44 46
146% 91% 10 N y Air Brake. 400 116 117 116 116 +1 11? 117
-,?*% 66% S New York Central., 1100 69% 70 60%" 70 + % 70 70%
ZV/? 23% ? N y, CM ft 81 L... *10C 29 20 2? 29 +1% 29 SO ,
lay in Listed Stocks
Record of Slock and Bond Averages
(Copyright. ID JO. New Terk Trflmno Ino.)
Stocka
Yester
?aay.
20 Railroad? ......... 66.20
30 Industrial? ............ 110.30
SO Stock? . 92.66
10 Railroads. 76.06
10 Industrial? . 90.78
5 Utilities . ??.80
25 Bonds . 81.49
?ay
before.
65.66
109.50
91.92
Tur
?ate.
72.16
?84.37
79.48
Bonda
76.23 .82.71
90.71 93.87
73.82 86.75
81.44 87.78
Rana** foil year,
1919.
High.
78.80
119.33
99.54
82.80
95.70
87.76
87.91
Ranee full year.
1918.
63.35
79.20
75.92
72.83
90.56
71.80
80.21
High.
79.15
88.83
84.08
86.57
94.08
89.02
89.46
Lew.
66.12
73.37
70.30
76.62
67.40
82.60
83.62
High.
1919.
7034
75
40%
112'/a
997a
97
39%
61%
13%
11/4
74.
104
76%
47?4
140%
104%
48%
68
20
67
.33%
431/4
99
28%
10F?/J
74%
135
44%
31/2
109
Lew. Dr*.
1919. Rate.
19% 21/2 New York neck.
441/4 5
25%
95 7
77 7
48 5
34% ?
35%
8
6/2
46 3
100 ?
68 6
42 3
67 6
92% 7
39% 3
271/2 6
4% ?
32 ?
12% ?
Sales,
200
100
800
200
1600
500
New York Dock pr.
N Y, N H & H.
Norfolk ft West....
Northern Pacific ....
Nova Scotia Steel....
Otis Steel . 10300
Ohio Gas . 3700
% Okla Prod ft Ref_ 5100
Ontario Silver . 100
Owens Bottling . ..
Owens Bottling: pr.
Pac Gas & Elec...
Parish Bina .
Open. High. Low.
48% 48'/, 48
81
27%
99
81%
76
41 Va
60%
10%
9
64
100
60
4534
61
27%
99
80%
73
39/4
BOH
IO/4
9
100 64
100 100
100 60
200 45
61
27%
99
801,
74?4
S9'/4
60
IO/4
9
64
100
60
45
Pan-Am Pet . 16100 107?4 10734 106
Pan-Am Pet B. 1200 102% 103% 101
Pennsylvania R R... 2500 41% 42% 41',
Penn Scab Steel. 1800
30
383/4
16
95
45
134/4
24
12%
59
132/4 110
97
107%
27/8
83%
105 Va
146
2/4
121
63%
84'/a
28%
17
27%
100
300
500
9000
14100
5600
100
400
51
68/a
19
73%
68
71%
1
84
46
63% 6
8/4 ?
12/a ?
10%
Peor?a & East.
Peo Gas & Coke.
P?re Marquette.
Philadelphia Co _
Pierce Arrow .
Pierce Oil.
Pierce Oil pr.
Pittsburgh Coal _
Pitt?, F W & Chic.
Pitta & West Va...
Pond Creek Coal_
Pressed Steel Car...
Pullman Pal Car Co
Punta Alegre Sugar.
Railway Steel Spring
Ray Con Copper....
Reading. 3900
Remington Type ... 900
3334 35 333/4
1234 123/4 123/4
37 39 37
31% 31/2 30%
39/2 393,4 39/2
82% 82% 813/4
20 21/2 20
94?4 95% 94%
63 63% 63
10 124 124 124
200 29 29 29
1600 27% 27% 27%
300 102% 103% 102/4 103/8 +
80O 117 117 117 117 +
1700 94 94% 9334
400 100% 100% 100
1600 22 22 % 22
77 7734 7634
94 94 92%
230% 168/a
81% 74
19/4
64%
89
115
33
72%
160
10934
151
104%
144%
54%
17/4
70'/a
345
70
115
120
13/2
62%
26/a
74%
60
45%
138/2
74%
55%
119/4
215
15?%
3434
38%
32%
91%
167
50%
139%
119/a
78%
501/2
115/z
10 1
41% ?
46 Va 6
91% 6
20% ?
62% 6
124 8
36% 4
45% 7
92 7
42% 5
32 3
93/4 ?
27% ?
185 10
56 Va ?
72% 6
97% 7
5 ?
34% ?
10 ?
37% 6
293/4 1
34% ?
19% 10
63 4
39% 4
80% 3
157 10
7% ?
15 ?
14 ?
16% ?
Rep Iron ft Steel... 24900 123% 124% 12234 123%+
- Rep Iron ft Steel rt? 8600 2% 2% 2% 2%
8.20 Roy Dut N T ?hares 12100 104 105
- Replogle Steel. 100 48% 48%
Savage Anas '. 800 72% 75
Saxon Motora. 2800 16% 16%
St Joseph Lea?a. 100 16 15
St Louis ft Su Fran 200 18% 18%
Sears-Roebuck ft Co 600 231 Va 236
Shell Tr . 6600 82 83%
Vz 123% 124
IO334 104%+ 1% 104% 105
48/a
76 + 8%
16%
16 -
18%+ %
231% 236+4
82 83%+ 1/2
48/a
72%
16
16
18%
48
74
16
16
18%
235
49
76
16%
16/a
I8/2
238
83 83%
Shattuck Aria. 400 12?4 12% 12'/a 12/a- 12% 12%
Sinclair OU . 83900 47% 48% 47% 48%+ 1% 48% 483/4
Sloss-Sheff St ft Ir.. 2100 7634 7634 75% 76 - 76 77
Southern Pacific ... 15600 103% 105% 102% 105 + 2% 104% 105
Southern R R. 2900 22% 23 22% 22?4+ % 22% 23%
Southern R R pr_ 100?56% 56% 6634 56%- 56%
Standard Milling ... 600 140 140 139 140 + % 139
Stromberg Carb . .. 3400 85% 86% 85 85 + % 85
Stuflebaker . 37600 113% 115% 112% 115%+ 3 115
Studebakcr pr . 200 100 100 100 100 ? 1
Stut* Motors . 1200 122% 130 122% 130 +10!/
Superior Steel . 3700 49% 50% 49 4#4+ 9
1100 10% 11% 10% 1134-1- 7.
1000 42% 43% 42%
1600 230% 230% 230
1500 60% 61 60%
2100 95% 95% 9434
102
11%
100 102
400 11%
49
97%
17%
73
109
43%
45
88%
117% 111%
97% 65%
?2134
92%
62
13%
33
14%
30%
26
61%
126
59%
104%
18%
66
40%
117
8
8
6
3%
5
7
?6
8% ?
61 4
55 ?
7% -
20% -*+
9% ?
16 ?
62%
94%
40%
65%
73/4
45
2?%
50
Tenn Cop & Chem..
Texas ft Pacific ....
Texas Company ....
Tex Company rt?....
Tobacco Product?
Tobacco Product? pr
Toi, St L ft West ctfs
Trans Con Oil. 9100
Toi, St L ft Wprctfs 100
Trans & Wills Steel 600
Twin City Rap Tr.. 100
Union Oil . 6100
Union Pacific . 2900 123%
Union Pacific pr_ 200 69%
United Alloy . 100 52%
Un Retail Stores- 10200 96%
United Fruit ........ 1100202
Un Ry Investment... 200
Un Ry InTest pr... . 300
U S C Ir Pipe ft Fo. 1400
U S Express. 100
U S Food Product??.. 1700
U S Ind Alcohol. 6600 115
U S Realty ft Imp. . 1200 47
U S Rubber. 33400 137
U S Rubber 1st pr.. . 200 114
U S Smelt &. Ref_ 2100 743$
l S Smlt ft Ref pr.. 100 46%
U S Steel. 68100 108% 103% 107% 108%-(
U S Steel pr. 200 114 114 114 114
Utah Copper . 2300 7934
Utah Sec Corp. 600 12%
Va-Carolina Chem .. 2000 71%
Vanad Steel . 2400
Wabash . 200
Wabash pr A. 300
?est Maryland . 700
est Maryland 2d pr 500
Wisst Pacilic .,. 1600
West Pacific pr. 200
West'houao Air Brake 100 117
Westinghouse Mfg... 1200 54%
Wilson Co . 4C0 82
Wheeling & L E_ ?00 13
White Motors . 3000 65%
Willys Overland _ 12100 31%
Worth P & Mach... 1700 94%
Federal Reserve Bank of New York
RESOURCES
Gold with foreign agencies.
Gold coin and certificates.
Gold settlement fund?F. R. Board.
Total gold held by bank.
Gold with P. R. agent.....
Gold redemption fund.
Total gold reserve.
Legai tender notes, silver, eto.
Total reserves .
Bill? discounted:
Secured by government war obligations.
AH others .
Bills bought in open market.
Total bills on hand.
U. S. government bonds .
U. S. Victory notes .
U. S.certificates of indebtedness.
Total earning assets.
Pnnk premises.
Uncollected items and other deductions from
gross deposits .
or/c redemption fund against F. R. Bank
notes .
Gold in transit or held in foreign countries.
All other resources.
Total resources
LIABILITIES
Capital paid in.
Surplus .">.
Government deposits.
Due to members?reserve account.
Deferred availability ?tems.
All other deposits.
Total gross deposits.
F. R. notes in. actual circulation.,...
F. R. Bank noies in circulation?net liability..
All other liabilities.
Total liabilities .
Ratio of total reserves to deposits and F. R.
note liabilities combined.
Ratio of goI*d reserves to F. R. notes in circu?
lation after deducting 35 per cent agajnat
net deposit liabilities .
January 8
$48,194,795
154,011,970
41.101,083
?243,307,857
306,756,215
25,000,000
December 26.
$49,296,493
147,196,768
41,559,778
$238,-953,038
307,385,115
25,000,000
$575,064,072
45,818,991
$.570,438,153
45,602,133
$620,883,063 $616,040,287
571,821,844
239,901,206
208,051,505
$1,020,374,555
1,256,800
50,000
79,952,500
$1,101,633,855
3,094,050
257,067,063
2,910,000
1,176,681
584,588,018
203,605,569
191,312,505
, $579,506,093
1,256,800
50,000
67,347,000
$1,048,159,893
3,994,082
235,089,943
2,929,400
1,305,160
$5,986,764,711 $1,907,518,764
$22,390,750
45,081,933
193,936
785,043,420
206,265,171
56,231,796
$1,047,734,323
811,119.080
52,775,600
7,663,026
$1,986,764,711
' 88.7%
43.4%
$22,388,250
32,922,051
12 641,154
706,253,915
188,383,493
42,684,384
$949,962,947
824,944,130
54,624,100
22,677,287
$1,907,518,764
40%
44.3%
New York Clearing House Banks
The actual condition of the member banks, shown by the Clearing
Hoy se yestorday, with the changes from the preceding week, follows:
January 3. Changes.
Loans, discounts, investments, etc. $5,373,776,000 Inc.$176,293,000
Cash in vaults of Federal Reserve mem?
bers . 108,081,000 Deo. 6,147,000
Reserve in Federal Reserva Bank,. 688,364,000 Inc. 64,982,000
Cash in vaults of stats banks and trust
companies . 12,028,000 Deo. 924,000
R??ervc in depositories. 11,216,000 Dec. 123,000
?Net demand deposits. 4,192,457,000 Ino. 185,298,000
Net time deposit?. 256,424,000 Ino. 8,758,000
Circulation. 38,977,000 Dec. 44,000
Excess reserve. 54.479,000 Inc. 46,246,460
Aggregate reserve. 611?608,000 Ino. 63,925,000
?United Stntes deposits deducted. $811.664.000.
Profit-Taking
Forces Recession
On Curb Market
General Trend Is Down?
ward, but Some Oil ?and
Industrial Issues Score
Guns During the Day
Profit-taking sales forced moderate
recessions on the Curb yesterday and
imparted a rather irregular tendency to
the price range, fet, on the whole, the
outside market acted well, considering
the progres made on the recovery of
the past few days. Activita was con?
siderably reduced yesterday?
Invincible Oil sprang into promi?
nence in the oil group yesterday when
it jumped from 38 to 43 on sales of
6,500 shares. There was no news out
on the stock, although its friends said
the company would benefit greatly
from the recent advance in.crude oil
prices.
International Petroleum was quies?
cent, around 76. Carib Syndicate de?
veloped weakness, fallng from 52 to
49%. Phillips Petroleum, after get?
ting up to 86, dropped to 84%. Simms
early sold at 73%, but receded to 71%
at the close.
Perfection Tire was steady around
4% to 4% on reports of an Impend?
ing increase-in tire prices. This com?
pany is turning out tires now, it is re?
ported at a rate of about 2,000 a day.
A statement by an official of the com?
pany puts the prospective profits for
1920 at $1,500,000.
North.American Pulp and Paper was
again strong, getting above 6. It re?
cently sold around 3. A strong pool
has been organized in the stock and is
responsible for the advance. The ob?
jective of the pool is said to be a price
of $7 a, share for* the stock.
General Motors, when issued, stock
went to 86 on active dealings. Gen?
eral Asphalt common rose from 121 to
124%, a new high for the movement 'on
pool operations. Stanwood Rubber was
steady, a fraction above 18.
'Industrials
Sale?. ? Open. High. Lew. La?*?
2300*Acbm Coal... 1% 1% 1% *K
100 ?Aetna Explos. 8 8 8 8
1000 Air Reduction. 48 48% 47 47
8300 ?Amal Tire Co. 13% 15 18% 14%
4200 Am Saf Razor. 17% 17% 17% 17%
100 Am Writ Pap.. 11% 11% 11% H.%
100 *Br-Am Chem.. 8 8 8 8
200 ?Br-Am Tob cp 26%, 27 2G% 27
200 'Br-Am' Tob reg 26 26 26 26
300 ?Car Lt & Pwr 2% 2% 2% 2%
100 *Clinton-W W. 40 40 40 40
8000 *Oen Asphalt.. 122 124% 121 123%
1000 ?Gen Mot w i. 36 30 33% 36
300 Grape-Ola. 1% 1% 13a 1%
500 do pf. 1% 1% 1% 1%
100 ?Havana Tob.. 2 2 2 2
200 ?do pf. 12% 12% 12% 12%
500 ?Hendee Mfe.. 48 49 48 49
500 ?Hoyden Chem. 6 6% f? 6%
600 Hupp Mot Car. 15% s16% 15% 15%
100 ?Hydraulic Stl. 39 39 39 39
SOOTnllian Packing 19% 19% 19% 19%
1300 Inter Rubber.. 16 17 16 17
2000 ?Kay Co Gas.. 2% 2% 2% 2%
800 ?Locomob n wl 25 25 24% 25
1000 ?Loew, Inc.... 31 31% 30% 31
2000 Marconi of Am. 6 6% G 6%
:;00 ?Mercer Motors 38 39 38 39
1500 Mont Ward... 41 41 40% 40%
4000 No Am P & P 6% 6% 6 6%
360 ?Nunnaly Cand 21% 21% 21% 21%
ID'? 'Patch-Ply w i 41 41 41 41
2500Perfec Tire.... 4% 4% 4% 4%
:i00?Poulsen Wire. 4% 4% 4 4%
1500 ?Radio Co w i. 2 2% 2 2%
200 ?do pref w i. 3% 4% 3% 4
8U0O ?Republic Rub. 4% 5% 4% 5%
.".'0 ?Snows Fount. 13% 13% 13% 13%
200 ?Spicer Mfg.. .102% 102% 102% 102%
300 ?Stand G & E. 26% 26% 26% 26%
400 ?Stanwood Rub IS % 18% 18 Vu 18%
4000 Sub Boat. 15 15% 14 1".%
100 ?Todd Shipyds.197 197 197 197
SOU ?Union Carbide 70 78 7ti 78
500 *Un Pic Pro C 15% 15% 15?. 15%
1500 Un Profit Sh.. 2% 2% 2% 2%
15000 *Un Ret St C. IS 19 18 18%
700 ?U S H Sp T. 27% 27% 27% 27%
3850 TJ S L & H... 3% 3% 3% 3%
3500 U S Steamship ?! 4 3% 4
3000 ?V Viv Inc.. 22 24% 22' 24%
500 "Vanad Stl rta 2% 2% 2% 2%
4000 Wayne Coal... 5% 5% 5 5%
Standard Oils
20 ?So Penn Oil. ? 337 335 335
10 ?Southern P L. ? 169 169 169
80 ?St Oil of N Y - 458 455 457
Other Oils
1500 ?Allan Oil_ 1% 1% 1% 1%
1100 ?Alliance O&R. 16 16% 16 16%
20000 ?Allied Oil .... 1J {% ft %
700 ?Associated Oil. 2 2 2 2
1000 Anna B Wyo O 70 70 70 70
1500 ?Ark Nat'. Gas. 43 45 41 41
500 Aritex Oil _ % % % %
3500 ?Bell Pet . 2% 2% 2% 2%
2100 ?Boone Oil- 6% 7 6% 7
5000 ?Bos-Mex Oil.. 2% 3% 2% 3%
15000 ?tBos-Wyo- Oil. 1ft 1% lft 1%
200 ?Brazos Oil C.. 22 22 22 22
14000 Burkn V Cl O. 2% 2% 2% 2%
3000 ?Carib Svnd... 52 52 49% 49%
200 ?Circle Oil .... 4% 4% 4% 4%
S000 ?Cities Service. 43% 43% 43 43
100 ?do pf. 72% 72% 72?i 72%
1500 ?do B T sh.. 42% 42% 42% 42%
1500 ?Columbia Em 23 24 23% 23%
2000 ?Cosden & Co.. 10% 10% 10% 10%
1100 ?Cushing Pet.. 3 3 3 3
1500 ?Dominion Oil. 33% 33% 32% 33
3500 ?Elk Basin Pet 8% 9 8% 9
3000 Engineers Pet. 1% 1% 3% 1%
4G00 ?Ertel Oil_ 2% 2% 2 2%
500 ?Earner O & O % % % %
2000 ?Federal Oi? .. 4% 4% 4% 4%
200Fenuland Oil... C% 6% 6% 6%
6000 ?Gilliland Oil.. 53% 53% 62% 52%
3000 ?do pf.110 110% 10G 107
2800 ?Glcnrock Oil.. 3% 3% .'!% 3%
lSon tHome P of D. 34 36 34 36
300 ?Houston Oil..150 150 148 148
500 ?Hudson Oil .. % % % %
1700 ?Interna Pet... 77 77 74% 76
6500 ?Invincible Oil. 38 43 38 43
8000 ?Island O & Tr 6 6% 6 6%
3000 Livingston Oil. 2% 2% 2% 2%
2800 Magna O ?fc R. 8% 8% 8% 8%
? 500*Margay Oil... S 8 8 8
1000 ?Maracaibo Oil 26% 2(1% 26% 26%
1500 ?Merritt Oil... 21% 22% 21% 22
500 Met Petrol_ 3% 3% 3% 3%
1500 ?Midwest Ref...178 179 176 178
500 No Am Oil.... 5% 5% 5 5%
200 ?Orient O & G. 7 7 1 7
3500 ?Pennok Oil... 9 9 8% 8%
2000 ?Phillips Pet.. 86 86 ' 84% 85%
500 ?Prod & Ref... 10 10 10 10
600 ?Rod Rock Oil. 1% 3% 1% 1%
3700 ?Rickard Tex.. 3 3 2 3
5000 ?Ryan Pet. 4% 4% 4% 4%
4500 f.Salt Ck Prod. 50% 52 50% 61%
3000 Soquoyah O&R. % ft % ft
8000*Simma Pet... 73% 73% 71 71%
5000 ?do rts. 8% 9 8% 8%
700 So States Cons 1% 1% 1% 1%
100 Spencer Pet... 20% 20% 20% 20%
200 ?Stunton Oil.. % % % %
100 ?Texas Chief... 43% 45% 43% 43%
lOOTex-Rang P&R 1% 1% 1% 1%
11000 ?Texon O&L... 1% 1% 1% 1%
800 ?Thraman Oil. 2% 2% 2% 2%
500 ?Tropical Oil.. 20% 20% 20% 20%
9000 ?Unit Tex Peto 1% 1% 1% 1ft
3000 ?Vulcan Oil... 9 9 8 8%
35.10 ?Victoria Oil.. 1% 1% 3% 1%
200 'Whelan Oil... 1111
200 ?W Eagle O&R 23% 23% 23% 23%
20000 ?White Oil_ 49% 49% 49% 49%
2000 ?Wooiiburn w i 7 7 7 ' 7
5000 *tWyo Cons... 35 40 35 40
Mining
3500 Al-Br Col Met. 1% 1% lft 1ft
250 Am Hond M C 2 2% 2 2
1000 ?Amer Mines.. lft 1ft 1ft 1ft
3200 ?Ariz. Silver... 2 2% 2 2%
4600 ?tAtlanta. 2% 2% 2% 2%
3700 ?tBeich D lap! 27 30 27 29
1500?tBelch K lap) 47 48 46 46
1200 Big Ledge .... % % % %
2500 tBost & Mont. 72 72 72 72
2700 ?tCaledonla ... 31 33 31 32
600 Canada Copper. 1% 1% 1ft 1ft
15000 ?Candelario Sil \\ % % %
450 ?Carson H Gold 40 86 37 8C%
2500 ?tCaghboy _ 7 7 6% 7
' 1700 ?Cons Vlr SH.v 8% 10 8% 10
500 Cresson Con G. v-2% 2% 2 2%
: 12,100 ?Divide Exten.. 1% 1 il 1U 1%
500 El Salvador Sil 3 Vi 3% '3% 3%
i 3500 ?Eur Cr M Co. 1% 1% 1% 1%
; 600 ?tEureka Holly 73 73 73 73
700 ?Forty-nine M? 2% 2% 2% 2%
200 ?Gadgden Cop.. 2% 2% 2% 2%
1200?tGold Z DIv.. 38 3? 88 , 39
700 ?Golden Gato.. 1% 1% I % 1%
2700 ?fGoldfleld Con 11 13 11 12
1500 ?tGo.dtV.d Dov 11 11% 11 11%
2000 ?fGoldfleld Mer 3 3% 3 3%
1500?tGreot Bend.. 3 3 2 3
1200 Her?a Mlnln?.. 4ft 4% 4ft 4%
1500 ?tJim Butler. .21 23 21 22
1700tJumbo Exten. 6% 7 6 7
2500 ?tKewanaa ... 3 4 3 ?%
2000 ?tKnox Divide. 15 16 15 15
1000 Louisiana Con. % % % %
500 ?tMaoN Cr M. 83 36 32 35
87000 ?tMaeNam Min 73 88 "3 87
200*M?gmn Chief. % % % <H
7?U ?tM*r?h M??.. 8? 12 , 3il ?i
S*-.*?-- _ _ Opan. Htah. I_sw. ____-_.
800 Motheorlodo Con 6*_, T 6*__ 6
lSOOMur-M M U?. TT 77 77 77
t?00 ?Nat Tin Ce?? 11 ll% Il 11%
300 Nipiasin* Min. 1-U 12% 12% 12V?
300Ophlr S?lv M.. 1? 1? ltt _2
1000 Rand Min Ltd. 40% 4_ ? 4AU 40*2
4000 tRex Cons..... 10
5200 Roper-Group M S
1200 -?Silvor Doll M. X
1500 -?tSihrer K DIv 11
150f Silv K ot Aria %
70? ?So Am G & P '
310 Stand SilvL..
1500 *tSucce_s Min.
370 "Tono Belmont
1500 ?Tonopah Div..
1250 Toaopah Ext..
760 United Eastern
1500 *tU S Con Min
500 Unity Gold M.
3500 t Went End Con
1250 tWh Cape, Min
lSOOWUbert MIn...
?Allied Packen ?s.. 82% IB% 82% 85%
?Am Tel ft Tel 1922. 96% 96% ?6% 96%
?do 1924 . 96 96 96 96
?Can Gov 6%s 1929. 94 ?4% 94 94%
?Copen 5%s 1944 w i. 85 85 85 85
?Inter Rap Tran 7a.. 7? 7? 76 75
?Russian Gov 6%s.. 29 29 28 28
?do 6%s .,.28 29 28 29
?Swiss Gov 6%s.... 92% 93 92 92%
?Unllitad. tSell cent? per ?bar?.
m ? ,
Ohio Cities Gas
Bids for Coittrol
Of Oil Company
Makes an Offer to Purch-t^e
63 Per Cent of the Stock
of the Union des P?troles
d'Oklahonia
B. G. Dawea, president; of the Ohio
Cities Gas Company, announced yes?
terday that an offer had been
made by the company to punchase
the shares of the Union des
P?troles d'Oklahoma that are now
owned by the Oklahoma Producing &
Refining 'Co. They form 63 per
cent of the total outstanding stock of
the Union and consist of all ita ordi?
nary and preference shares.
Mr. Dawea said that the Union dea
P?troles has a substantial Interest in
the Oklahoma Producing ft Refining
Corporation of America, owning oil
fields of importance in Oklahoma,
Kansas and Texas, and that the prop?
erties in all its fields are contiguous
to the properties of the Ohio Cities
Gas Company in this territory.
"Under the circumstances," he
added, "operations could more ad?
vantageously be carried on under
one general management than, as at
present, under separate managements.
The Oklahoma company, further, has at
Muskogee a complete refinery of 3,000
barrels daily capacity and a large
number of distributing stations in
Oklahoma, owned by a subsidiary, the
Crown Oil Company. This refinery
and the stations would effectively sup?
plement the refineries of the Ohio
company at Ardmore and Cuahing,
Oklahoma."
Mexico's National
Indebtedness Now
$26.21 Per Capita
Semi-Official Study Shows
That Unpaid Interest a
Year Ago Amounted to
170,892,147 Pesos
Mexico's per capita indebtedness is
one-ninth of that of the United States.
The share of every man, woman and
child in the debt of this country is
$223.12, compared with $26.21 in Mex?
ico. These facts are presented in a
pamphlet just made public on the "Na?
tional Debt of Mexico," which was pre?
pared by Thomas R. Lili, accountant,
who acted as director of the commis?
sion on financial and administrative re?
organization of the Mexican govern?
ment in 1917-'18. Mr. Lili went to
Mexico with Henry Bru?re as his aid.
The study, which is semi-official,
sheds light on the movement of the
Mexican government to rehabilitate its j
debt, and is in the nature of a forecast
of some of the facts regarding Mexican
finances which will probably be re?
vealed at the conference of the Pan
American Financial Union in Washing?
ton on January 19.
According to Mr. Lili.the principal
of the Mexican debt on December 31,
1918, was 695,050,181 pesos (normally
the dollar is worth two pesos), of
which sum 425,739,800 pesos had been
incurred before the Madero Revolution,
and 289,310,381 pesos after that event.
Of this accretion to the debt 81,681,304
pesos were arranged by the Carranza
administration. Unpaid interest a
year ago amounted to 170.892,417 pssos,
including interest on the railroad obli?
gations, which were guaranteed by the
government.
Mr. Lill's study was made to fur?
nish data for discussion with inter?
national bankers on the subject of re?
habilitating the national debt. In a
preface to . the pamphlet. Mr. Bru?re
asserts that the conferences last
j spring between Rafaelo Nieto. Acting
Secretary of Finance of Mexico, with
! J. P. Morgan & Co. were based on his
j recommendation that such conversa
i tions be held. Mr. Nieto and Dr. Al
! fredo Caturegli, Mexican Financial
: Agent here, will leave this month for
i London on a special mission to wind
I up the affairs of the former ajrency in
? London and at the same time, it is
I believed, sound out the views of
i European bankers in thV matter of
i reaching an arrangement whereby
Mexico's credit may be restored.
Fashion Show Next Month
Fourteen of the highest class Fifth
Avenue fashion originators will display
models designed for spring wear at
the Spring Fashion Review to be held
at the Hotel Commodore on February
3, under the auspices o? the National
Garment Retailers' Association. About
sixty medels of suits, street dresses
and evening gowns will be displayed.
The revrew will bo patterned after
| the season openings in Paris. Its pri
) mary object will be to give the buyers
! for retail stares throughout the coun
I try a comprehensive view of the style
I trends for the coming season for their
1 guidance in purchasing spring stocks.
?
Stocks Ex-Dividend
! Jan. 7?Amprlean Drug Syndicat*. --.">
: Jan. 9?Am .rlcan Ice . 1
Alan. 9--American Ice pr. 1'i
i Jan. 9?Central T_.ather .l-?&_e_.
Jan. r.?Corn Product? Ref.1 A '. ?x
Jan. 5?Corn Product? Ref. pr. W.
!.Ian. 6?Del., Lack. _- West. Ft. n.? -???
Alan. 8- -Or. at Northern Ry. pr. 1 ??
i Jan. 9?Inspiration Cons, Copper. 1 >s
Jan. 9?International Paper pr,. 1**A
Alan. 0?Internai. Paper at?ri. pr. 1'?
Jan. 8 -Mahonlngr Coal R. R. 6
?Jan. t?National ?Moat it Suit. 1>?
Alan. 6?New"York Dock pr. _>n
?Jan. 8?Plttsbur*- foal . 1 \
I Jan. 9?Plttabun. Coal pr. l '_
?Jan 8?United Alloy Steel. 1
Business Items
tiouta YV'lard, general _.?___,<?r of the
Cloak. Butt and Skirt Manufacturer?' pro?
tective Association, ha? tend ?red hie reals
nation, to take effect March I, Mr. Wtard
re. lined from -Jh. State indue" n_i tVtn
nl-M. n iK.t lipriiift to accept his present
| position. Ho was Mayor of Batavl.. ,N, ?..
? Tor Mi-o terms, md 's pifi-Utet-l of the
i .Viera Plow Works In that -It?.
In Wall Street
"What Do Tm Think of tho Marketr"
The market expert of one of the
largest commission houses in the Street,
who had the right line on tho market
most of 1919i "The market may run
along o few ?days like this with in?
dustrial specialties working hither, but
tho resumption of the bull campaign
has sot started. I look for a pretty
? good reaction before the real rise get?
I underway. February oughj to see the
! bull campaign fairly launched. Mean
! while there will be plenty of opportun
I ity for scalping profit?, with the mar
i ket keeping in a trading area."
Governor Strong Take? a Rest
j Benjamin Strong, governor of the
! Federal Reserve Bank of New York, i?
| getting away from New York to-day
! for a well-earned rest. The governor
is going to Arizona to play golf and
bask in the sun for a period of several
j weeks.
Higher Tiro Price*
Prospects of an impending advance
in tire prices helped the speculative
pools in their manipulation of the rub?
ber and tire stocks yesterday. United
States Rubber, Goodrich, Fisk, Kolly
Springtield and even Keystone, whlrh
recently tumbled below.40, were aggres?
sively strong on active buying. Rub?
ber common, for example, crossed 140,
while Kelly-Springtieid et the high ?hi
'? up some 6 points from the low of Kri
| day. Plans of the larger member? of
i the rubber and tire manufacturing
I group call for an advance of Kt leant
j 15 per cent in tire prices very shortly.
The advance was expected January 1,
but has been delcyed temporarily. On??
of the important tact ora which has led
the manufacturers to decide up?>"
higher prices for tires is.the shortage
of long staple cotton, so essential to
turning out the right kind of fabric
for use in tire building. Labor cost?
are also much higher than they were
last spring, when the big manufactur?
ers cut prices. The coming advance in
tire prices in the case of United Sute?
Rubber is believed to have been fore?
shadowed by an advance this week la
prices of rubber shoes and other rob?
ber goods.
California Packing
The redemption of the |8,4?S,20? out?
standing preferred etock of the Cali?
fornia Packing Corporation on April 1
at $115 a share and accrued dividend
has been decided on by directors. Un
I der the arrangement the preferred
I stockholders have the right of conver
i sion on the basis of one share of pre?
ferred for one and one-half share? ?W?
| common stock any time before MarrB
; 2, 1920. The company recently in
creased the dividend on its common
shares from $1 to $1.50 quarterly, pu>v
ting the stock on an annual basis of 9$.
Recent unofficial statement? indicate
that the corporation's business turn
over in 1919 was close to $75,000,000.
Low-Priced Railroad Bonds
Attention is called by Wrenn
Brothers & Co. to the numerous "bar?
gains," from a speculative point of
view, in low-priced railroad bonds.
Some of these, with the yields shown,
are the following:
TUId
Bait. & Ohio refundir?a 6a, 1996. 9.?0
Bait. ?A: Ohio i-\t. 4'hh, 1933. S.?f.
Che?. ? Ohio cvt- 4 4?. 1K30. * 1?
St. Paul cvt. 4i?s. ISS]. S.??
Koci! lu?an ! refundi?? 4?. 1 ?O4. . .. S.ifc
Denver e? Rio Qraode ron?. 4a. 1536 . t ?7
Hrl? g?neral lien 4?. ISA?. ?.a?
Now Haven debenture I Via, 1966, . ? I
?Seaboard Air lino con? fa, I94? ... . '.' "?
"We believe there is less risk in
| these bonds than in any list of averag?
i common industrial .stocks, and such
> stocks as a rule now yield only about
6 per cent on the market price, fur
thermore, unless the bullish possibili
I ties in the stock market are much
i larger than they now appear, it i?
j quite possible that these bonds as a
? class will rise more in points ?lurin?
j the next few months than common In
j dustrials a? a class. If by the tim?
I the railroad bill b'-romes a law the?.
j bonds have shown a large rise or If
I at any prior time they hhow such a rise
it would be the part of good trading
? then to dispose of them. 1'ndrr proa
? ent conditions, however, they make a
' strong appeal to the trader."
1919 Listings
During 1919 new securities of an
aggregate par value of $1.350.407,450
were listed on the New York Stock
Exchange. The total for the last half
of the years was $553,5)35.530, com
pared with $6X8,109,500 in the final six
months'of 1918. Total listings for 191X
reached an aggregate of $821,261,336.
The bight rernrd of listings was, If?
! 1917, when $3,047,869,61 p?ar value of
, new securities went on the exchang*
mr.rket. The big total in 1917 w?i du?
' largely to the heavy listing? of foreign
! government issues. Last year J460. ?
j 599,000 in bonds went on the list and
j $889,808.000 in stock.
The Reserve Board's Tssk
The Federal Reserve Board h??
mapped out a big program ior 1920. ?
Here is how a banker views the job ?
ahead of the Reserve authorities: "To ^
i cut. away the speculation in commod
? ties which Is sapping the vitality of
> legitimate industry, to get rid of the
underbrush without damaging the fore?'.
there is a job which may well te?'.
tho board's wisdom and courage. If
it persists as it has begun, it will have
to withstand not only the criticism of
its adversaries, but the painful wounds
of its friends. It would be a mistak?.
to suppose, as many do, thai its only
instruments can be the discount rates
of the reserve b;?nks. They must, It
is true, be the doubled fist that fol?
lows, if napea sa ry the monitory finger,
or on raro occasions precedes it. Bu',
in the iung run the great weapon o?
the board will be its moral influence. If
the country is once con', inced that th*
board knows whit it is doing, and that
its decisions are informed by conscien?
tious regard for the best interests of
the whole country, its wishes will only
have to be known to be iullfUled."
General Motors
General Motor? moved up 6 pointa
to 344 yesterday on unofficial an?
nouncement that sufficient proxies
have been secured to assure the pat
sage of the financio! readjustment pro
. gram, which involves the splitting ?)>
of the commot. stock on a ten for ?no
basis and the issuance of new 7 per
cent preferred stock to take the plac?
of the present debenture and 6 per cen?
'preferred issues. Not eaoaga proxies
! were in last week to injure the suc
1 cess of the plan. But it is understood
that enough will have boon obtained
by the date of the meeting on January
i"> to put the capital reorganization
jhrough.
Waiting for a Rear!ion
While many folks are waiting f?aff a
reaction on which to g*t back in the
market it is getting away from them.
1 There are still a lot of people In
Wall Street who cannot believe that
?.rices of industrial stock*? will go 09
climbing. They feel that the specula?
tive pools are again overdoing things
j in bulling specialties in ihe manner
of recent days and that professional
i manipulators ar<- riding for a fall.
'. Just the ?ame, a wul not take man;
more session? such as the market ex?
perienced on Friday and again yester
I day to bring the public in with a ru?h.
As things look now, t*>e only restrain
I ing influence on si???.-. ih*
uncertain'.; Take the ?id of mone?.'
, und ihe wholi markvt would likely
; boom, jtfliging from it* present ac
, lion.

New-York tribune. [volume], January 04, 1920, Page 7, Image 29
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New-York tribune. [volume], January 04, 1920, Page 7, Image 29
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924