New-York tribune. [volume], January 06, 1920, Page 19, Image 19

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

Image provided by: Library of Congress, Washington, DC

                
We offer
J. I. Case Plow Works Company
7% Cumulative 1st Pref. Stock
This company is the outgrowth of a business estab?
lished 43 years ago.
Net earnings for the 2 Yi years ending June 30, 1919,
at the average annual rate of over three times first
preferred stock dividend requirements. Present net
earnings at rate of over Five T?ntes dividend require?
ments on this issue;
Total net assets exclusive of good will over $200 per
share for the first preferred stock.
No bonds or notes outstanding.
Price 97 and accrued dividend
Descriptive circular on application
W. G. Souders & Co.
31 Nassau Street, New York
Chicago Detroit Milwaukee
The Mortgage-Bond Company
of New York
55 Liberty Street, New York
STATEMENT OF CONDITION JANUARY I, 1920
ASSETS
Mortgages.$7,465.975.25
Bonds. 182,658.00
Real Estate ... . 217,079.67
interest Receivable 146,82 3.39
LIABILITIES
Capital.$2,000,000.00
Surplus ....... 500,000.00
Undivided Profits 278,342.94
Mortgage Bonds . 5,274,100.00
Interest Payable. . 96,383.66
Cash ,. 165,290.29 i Reserved for Taxes 29,000.00
$8,177,826.60 ;
OFFICERS
$8,177,826.60
GEORGE A. HURD, President
RICHARD M. HURD
JULIAN D. FAIRCHILD
j-Vice-Pres.
GURDON M. MAYNARD. Secy.
J. HENRY WESTON, Treas.
We have prepared a letter on
THE GENERAL MARKET OUTLOOK
and
THE COPPER SHARES
Copy on request
HALLE & STIEGLITZ
Members ?Vew York Stock Exchange
39.$roa4 Street, New York
BALTIMORE, MD.
Baltimore Stork, tisch. Bids.
ATXA?iTIC CITY, 3*. 3.
Penn. Ave. and Boardwalk
Conservative Investors
ave fccen quick to see the possibili?
ties in improved New York City real
estate. In steadily increasing n m
bers they have been transferring
their holdings from Railroad and
Public Utility issues to this field.
Ti e certainty of immediate increase
in real estate values is behind this
more while the f iture of Rails and
Utilities is decidedly un:erta.n.
?? ? can recommend for imm'ed' Ue investment:
Private House? in fashionable East Side sec
tien that it is more economical to boy than
it h to rent.
Ftfiy ten nted business ar?. apartment bnfld
in*s that yieki eseepdona.ly high returns on
.?.'?estment. (
goo?asLBUinnnSCa
T<yvn and Coutt?ry Ktsidencei,
414 MADISON AVE.
V '?i? Hvee- \4nrraii Hit!?Stio.
O? N?t* MMtf**.
ta-it ?mm? ?Mi ?j*.
tie Will Ocmpy
About March 1st.
??l?
Mark A. Nob.e
Theodore C. Corwin
NOBLE & CORWIN
*5 BROAD ST. NEW YORK
BUY & SELL
Chase National Bank Stock & Rights
Corn Exchange Bank Stock & Rights
Great American Insurance Stock & Right's
Fidelity & Casualty Stock & Rights
Telephones Br~d 1110 to 111?
Granada Oi! Corporation
Bought, Sold and Quoted
Circular on request
Maguire ft Burlelgh
Sp?cialiste
\ ?T WaO Street New York
Telephone Hanover 2214-2215-2216
t?_MEETING?
MW ?f til CITY ?f NEW YORK
?E^* ?f MlCR"?r <"v** '?>*l ?
SES?'!;,? ? ** pir^?*?. ?r v-Hinit o? ?
?S 5 ta** ??? ^?vthom* tt>? Dlrso
?Kaal ^??*-^UI,*.,,?? *i'???*?*i?* ?? ?
???^Wwm ??% %*1 'f'Vl m* ?Mita?.
^lJ? ^^ ^"* 0?M???r 11, If J4
???????????????i i m ii ii i^ ri., ",'L1!?
HARTSHORISE,
F ALES A CO.
Member* Ne* York. Steck Exchange
71 BROADWAY
Telephon* 7? 10 ff?tcM?o Oreen
LIBERTY BONDS
A!) ? ? fi oiv> matten? houfht for ?a?!,
0??-?l ?>? ?h- rloutnt tr? nay?
?itt.??H ,?f ? a?,?v-?i ?/,?/. Bon?., SB fou??!.?
???.il for a *??????1 ?t?% Bond, I toc?*?
MS.?? far a l?ft?Ith ? M*4 B*nd. 4 C*?*i?m
M*. 17 far a iftO?SCI. ?*4** Wand. 7 Coupa??
PURDV ? CO?,
?A ?eta S174-?-S-7. M t?a? **, *, *.
??teiite Market
Declines on Sales
?y Professionali
Curb Oil Shares Break
Sharply; Loews, Inc.,
Feature ?f Industr?ale;
Profit-Tak?ng a Factor
k
The course of prices on the Curb
market yesterday ?aa toward irregu?
larity. There was not the same ag?
gressiveness as on Friday and Saturday
of last week in the bidding, and profes?
sional operators found it fairly easy to
force recessions. At the same time,
holders of long stock who bought at
substantially lower prices were in?
clined to> take profits, in view of un?
favorable talk concerning the money
situation.
Th? continuity In the upward move?
ment of the oil shares was broken. In?
ternational Petroleum, after selling at
77. dropped to 74, while Invincible re?
acted from 45 to 42. Simms Petroleum
broke under 70, but recovered a por?
tion of the loss. Carib Syndicate dis?
played weakness for a time, but re?
covered later. Houston Oil, after sell?
ing at 151, dropped to 148, a new low
for the movement.
In the industrial group Loews. Inc.,
was strong on the official announce?
ment thftt the company has purchased
firacticauy all of the capital stock of
h? Metro Film Corporation, one of the
oldest and most successful film com?
panies in the country.
General Asphalt broke sharply, fall?
ing from 124% to 117% on rumors that
the annual report will show up rather
unfavorably.
Industrials
Sales. Open. High. Low. Last
1400 ?Acme Coal... 1% 1% lV? \%
4100 ?Aetna Explos. 8% 9% 8% 9%
100 Air Reduction.. 48 48 48 48
800 ?Allied Pck Ino SO 33 30 32
1100 ?Alum Mfg. n. 35 38 34% 35
2900 *Amal Tire, Co. 14% 1594 14% *?&
500 Am La-Pr En. 13 13? 13. 13%
550? Am Saf Bator. 17% 17% 17% 17%
208 Am Writ Pap. 12% 12% 12% Hf%
200 ?Austin-N pf.. 92 92 92 92
21?0 ?Br-Am Chem. 8% 9 8% 9.
4300 *Br-Am Tob cp 28% 28 26% 27%
3400 Br-Am Tob re? 26 27% 28 27*4
1700 ?Colonial Tire; 10 11% .9 11%
800 ?E Coast Fish.. 13 13% 13 13
300 ?Edmund & J.. 32 32 32 32
7000 ?Gen Asphalt. .124% 124% 117% 117%
1000 ?Gen Mot w ?. 36 36 36 36
1000 ?Goldwyri Pic?. 32 32. 31 81
900 Grape-Ol?. 1% 1ft 1% lft
700 do pf. 1% 1)1 1% ljl
100 ?HAvana Tob.. 2% 2% 2% 2%
100 *ao pf...... 13 13 13 18
400*Hendee Mfg.. 49 50 48 49
1200 ?Heyden Chem. 6% 6% 8% <*%
2000 Hupp Mot Car. 15 15% 15 15
200 ?Hydrau Stl pf 99% 100 99% 99%
1500 Indian Packing 20 20 19 19
2700 tnter Rubber.. 17 17 IB 17
2500 ?Kay Co Gas.. 2% 2% 2% 2%
800*Locomob n wi 25 25 24% 25
6000 ?Loew, Inc.... 31% 33. 31% 33
3500 Marconi of Am 5% 6% 5% 6
100 ?Mercer Motors 36% 36% 36% 36%
4500 Mont Ward.... 40% 40% 40 40V?
100 N Y Shipbuild. 50 50 50 60
5000 No Am P ft P. 6% 6% 5% 6
1000 ?Nunnally Can. 22 22 21 21
100 *Patchog-P . w I 40 40 40 40
5000 Perfection Tire 4% 4% 4 4%
500?Poulsen Wire. 4% 4% 4% 4%
1000 ?Radio Co* I. S
2000 ?do pf. 3%
8000 ?Republic Rub. 5%
800 ?Snows Fount.. 13% 13% 13% 13%
300 ?Spicer Mfg. .101% 101% 101% 101%
200 ?do pf.110 110 116 110
500 ?8tanwood Rub 18% 18% 18% .18%
4000 Sub Boat. 16 16 15 15%
500 ?Union Carbide 78 78 75 T8
3500 Un Profit Sh.. *% 2% 2% 2%
17000 *U Retail S C. i8% 18% 18% 18%
800*USH8pT.. 27% 27% 27 27%
500 U S LI ft Ht.. 3% 3% 3% 3%
3500 U S Steamship. 3% 4 3% 3%
1000 ?V Vivaud Inc. 24% 24% 23% 23%
3500 ?Vanad C? rta? 3% 3% 2% 8%
4500 Wayne ?oal... 5% 5% v 5% 5%
100 ?Will ft*Bsum. 30 30 80 30
300 Wm Davies.... 49 49H 49 49
Standard Oils
3700 ?Anglo-Am Oil 80% 30% 30 30
46?Std Oil Cal... ? 333 827 830
y0?Std Oil NY..? 460 456 468
l?S?8td Oil N J.. ? 743 737 740
Other Oils
800 ?All Oil ft R.. 16 16% 1? 18%
15000 ?Allied Oil.... H ft % ?
1500 tAn B Wyo O 70 71 89 TO
700'Aasoc OU. 2 2 2 2
2500 ?Ark Nat Gas. 40% 44 40Va 43
3000 ?Atlantic Pet.. 3% 4 3% 4
8000 ?Bell Pet. 2% 2% 2% 2%
2600'Boone Ol. 7 7 6% 7
1500 ?Brst-Mex Oil. 3% 3% 3% 3%
,5000 ?tBost-Wyo Oil 1% 1%- 1% 1%
100 ?Brasos OH C. 22% 22% 22% 22%
'COOOBurk V Cl Oil. 2% 3 2% 3
2500 ?Carib 8ynd...49% 51% 49 51%
400 ?Circle Oil. 4% 4% 4% 4%
2500 ?Cit 8erv Com. 43% 43% 43 43
3000 ?C Tomb?a Em.. 23% 23% 23 23%
2000 ?CoKden & Co. 10% 10% 10% 10%
1000 ?Gushing Pet.. ,1 3 3 3
10000 ?Dominion Ol. 33% 37% 32% 37%
1100*thiqu?Sne Oil. 9 10 9 9%
600 ?Elk Basin Pet. 8% 9 8% 9
3475 Engineers' Pet. 1% 1% 1% 1%
2109 ?EHei Oil. 2% 2% 2% 2%
1000 *Esm Oil ft G. % % % %
2000 ?Federal Oil... 4% 4% 4% 4%
500 Fenslahd 0:i... 6% 8% 6% 6%
10000 ?GlUiland Oil.. 52% 55% 52% 55%
3000 ?do pref.108 111 107 111
3100?G!enroek Oil... 3% 3% 3% 3%
I2800 ?GutTey-Gil! O. 88 39% 37% 38
1500 t Home P of L. 34 85 84 85
."000 ?H O R C of T 8% 9 7% 8
500 ?Houston Oil... 151 161 148 148
1500 ?Hudson Oil... % % % %
2*09 ?Internat Pet.. 76 77 74 75
9000 ?lnv ncible Oil. 45 45 42 43
9000 ?Island O & T. 6% 8% 6% 6%
1500 Livingston OH. 2% 2% 2% 2%
5200 Magna O & R. 8% 8% 8% 8%
100 Manhattan Oil. 41 41 41 41
1000 ?Maracaibo Oil 26% 27 26% 27
2500 ?Merritt Oil... 21% 22 21% 21%
GOO MexPanueo Oil 21 21 20 21
1150 ?Midwest Ref.. 177 180 176 175
200 ?Nat Oil 4 Re? 7 7 7 7
885 *N Eng Fuel O 83 85 83 85
700 No Am Oil.... 6% 6% 5 B%
1200 ?Pennok Oil... 8% 9% 8% 9%
2500 ?Phillips Pet.. 85 $6% 83% 86%
4500 ?Prod ft Ref.. 10 10 9% 10
400 ?Red Rock Oll. 1% 1% 1% 1%
2000?Riekard Tex.. 2% 3 2% S$i
1600 ?Salt Ck Prod. 52 53% 62 62%
300?Sapulpa R?f.. 7 7% 7 7%
2000 Sequoyah OftR. % ft % ft
tOOOO'Simma Pet;.. 70 71% 89% 70%
10000 ?do rts. 8% 9% 8% 8%
3500?SkeIly Oil.... 13% 13% 13 13%
400 So States Cons. 1 % 1% 1% 1%
700 Spencer Pet... 19% 19% 19% 19%
?500 ?Stanton Oil... % % ? % %
1000 ?Texas Chief.. 43% 43% 42% 43
500 ?Texas Co w 1. 58 59% 5$ 58
1500Tex-Rang P4R 1% 1% 1% 1%
12200 ?Texon O ft.L. 1% 1% I 1%
, 3900 ?Thraman ,011.. 8% 3% 2% 8%
i D00 ?Tropical Oil.. 20% 20% 20% 20%
13000 ?Unit Tex Pete l? lft 1 lft
! 5200 ?Vulcan Oil... 8% 9% 8 9%
800 ?Victoria Oil.. 1% J% 1% 1%
4i)0*Whelan Oil... t 1 11
I 200 *W Eagle OftR 23 23 23 28
,70000 ?Whit* Oil.... 80 60 47% 48%
. 700 ?Woodtmrn * i. . 7 7% 7% 7%
8600 ?tWyo G?*?... 15 40 ?6 ?0
Mlftlht
S490A1aa.Br CM.. Ifr \% 1* 1A
?no Am H M C. 2t, 2tf 2? 2%
500?Am Mine?.... 1? trV *? ItV
TOO*) ?Arizona Silver 2ft 2ft 2 2ft
350O?t Atlanta . 2ft 3 2 3
11600 ?fB*-! Div (ml 27 23 25 2?
2800 ?tBel E* (a p) 4i? 48 43 43
8000 Bsr Ledere. H ft % H
?000 *tB.?oth . 7 7 7 7
efWttMt ft Mont. 72 72 72 72
2700 ?tCaledonia ... 35 35 32 33
LUDO Canada Copper. 1V*. 1% 1A Ift
18400 ?CandWarfa ?tir % il {$ )\
200 ?Canon Hill G 37 37 364 83 ft
6000 ?tCaalUKur ,.,.. j ? 7 7ft
1780 ?Con Vit- SU*. ?H ?ft Sft 9ft
200Cr?Mon Con G m 2? ! 2
B700 ?Drift? Ext... ltf 1% \K lft
?ftis eu j? n ? 5fi
r,00 ?tEureka Holly 75 75 75 ?S
700 ?fortt-n n? M. BU ift 24 2ft
600*Oada?Vm Coa.. 2ft 8 2V? 3
6500 n.-olrf Kon# D. 40 40 S3 S3
R0?*(loMen Oat#... i % 1*4. Jft 1%
4700*HtrMt1?M Con. 13 13 12 12
IBO?0 ?WioHfl?M Pev. 12 12 II 11
ma *+fiolr|ft*id Mer. ?ft ?ft ?'? 3'?
I00o*t0r?at Bend.. 2 s 2 2
17?0H/Gla Min... . ?V? 4ft 4 4rV
$90 ?iron Bloatom. ft ft A f*
lM?1?tJHm S?jfcr7.. 23 38 ? ??
1000 ?fK?wanM .... I i 8 s
?009?fit??**?!*.... M 1? 14 14
1009?^l*??|? Con? ft ft ft V?
8000*tMaeN Cr,: M. 84 SS at sj
1000 ?Magma Chief. % ft ?4 %t
3500 ?tMkwh Mntr :. 31 31 2? ?
509 Maun Valley.. 2% 3U 8?S 3?
150? tMcKin-Dar '., 84 ?* ?4 Si*
1260 Mofcber?oae C M 5ft ? 5* 8%
2100 ?Wat Tlh Cor?. Il3 ? 11% 12
1000 ?t Y Hon ftltM i|* if 15* Jf
800 Nipissing M Co 12% 12% 12?. 12V,
1600 WW Nevada. 20 ^ 20* 18* 20*
400 Ophlr 5llv MC 154 lft 1? ju '
850? Rand M Ltd... 49ft 40$ 4?* 40$
6000tRex Cona .... 10ft lift 10% 11 I
8500 R??per-Cr M C ft ft ft ft i
300 geneca Copser. 17 17ft 17' 17%
1800 ?Silver Dol M.. .ft ft ft 2
4500*tSi?v Kg Div.. 12 14 10 10
2590S?V Kg of Ar.. H ft \l %
2500 *fSilver Pick.. 5 5 5 5*1
100 ?S Am G * P.. 7ft 7ft 7ft 7ft!
809 Stand Silt Ld.. ft ft ft ?
4000 ?tSpcces? Mng. 4 4 4 4
2&00 ?Suth?rld Div.. 3 3 3 3
790 ?Tonopah Beim. 2ft 2ft 2ft 2ft
39M?Tonopah Dhr.. 4ft 4ft I 4
1600T*nopan Exten. 2ft 2ft 2ft 2ft
BOO ?Tonopah Mn*. 2ft 2ft 2% 2ft
3000 Unit^Bs?tern. 4ft 4ft I 4
3500 ?tU S Cqnt M. 9 9ft 9, 9ft
800 Unity G M Co. 8ft 9 8ft 9
2000 *\V\e D (a p). 29 ? 20 20 20
1200 tWest End Con 1ft 1ft lft 1ft
7500 tWh Cap? Mn? 9 9 7ft 8
?500 tWh C E (a p) 2 2 2 %
2000Wilbert Mn?;... 7 7 7 7
Bonds
Sales (000 omitted). Open. High. Low. Last.
$105 ?Ard rack fcs.. ?5 89ft 85 88
30 ?Am TAT '22. 96ft ?63? 96 ft 38ft
18 , ?do 1924 . 98 98 98 98
18 ?Anaconda 6?... 98 98 98 98
11 ?CanGv 5ft? *29 94% 94% 94ft 94%
6 ?Cop 5 ft? '44 ?rl 83 8? 85 86
5 ?Gov ?f Swed 8? 96 98 96 96
3 ?Int Rap Tr 7s. 75 73 75 75
2 ?Rasa Gov 8ft?. 30 30 30 30
85 ?do 6%?. 30 30 27 27ft
6 ?Swim Gov Efts 92ft 93 92ft 93
?Unlisted, f?ell cents per share.
- a
Commodities
(Continued from preceding page
to 2,821,00!? compared with 2,415,008 last
year.
Teaterday's Previous Tear
_ Mew York- close. close, tro.
Corn. No. 8 ye..|l:?4?4, ?i.81% li.70%
. Chicago :
January . 1.37ft 1.34ft 1.45ft
May . 1.34ft 1.81ft 1.39ft
Oats?The market ,waa firm and higher,
closing with gains of ft to.ftc . Export?
ers reported sales of 500,000 bushels an'7
it was said thai ??bout a million bushel*
had beert' sold late on Saturday. Receipt?
were small and the visible supply shower!
a decrease for the week of 328.000, whioh
brought the total to 13.OS?,000, compared
with 84,828,000 a year ago.
Yesterday's Previous Year
close close ago
No. 3 white.$0.98 ?0.97 $0.80 @.S0'i
Chicago:
May.84 >4 .83ft .72 H
July-.... .77 H .78% -
Rye?Market stron*;.
Yesterday's Previous Year
New York: close close or
No. 2 Western...$2.02 H $2.00 $1.73V?
Floor and Meftl?Quotations were:
Yesterday's Previous Year
close close ago
M. pt..$14.50 $14.50 $10.65
C'meal 4.00 4.00 3.76?4.<H>
Rye ft. 8..,0@9.10 3.50? 4.10 B.S0?9.2i,
Eran. 19.00 48.50@49.50 61.00
Cottonseed Oil
The market was firm and higher on ac?
tive buying ftor Southern and western ?.<
count, prompted by the strength in cotton
and lard. Shorts were also good buyers,
and, While profit taking sales resulted ir. a
partial reaction, final prices were 19 to 3:1
points net higher. The January posi?
tion?in fact all the near months?continue
to sell at big discounts under the late po?
sition, and this was thought to reflect a
poor cash demand. Total sales for the day
were 22,400 barrels.
The range of prices follows:
Saturday's
Open High Low Close Close
--22.35?2".50 22.00
22.36?22.40 22.0?
2?.88?22.93 22.?6
23.05'(123.08 ?2.80
23.15%23.30 22.75
23.33023.35 23.00
23.30?23.50 22.85
Safar and Coffee
Current fear
pri?es ago
Sugar, granulated, per lb... 9 9
Sugar, confec A. per lb. 8.90 ?
Coffee, Rio No. 7, per lb_ 18H 18ft
Coffee, SSTitoa No. 4, per lb. 24 ?
S?g?r-^-Loeal refiners were very active In
the raw market yesterday and purchased
upward of 150,000 bags of raws, mostly to
the American, which Interest bought
101,000 bags Cubas, first half January.
at lie cost and freight: 22.000 bafts Cubas,
afloat, at llHc cost and freight; 500 tons
Suriname, 300 tons Perus afloat, at U14c.
?. 1. f., and 400 tons Perus, afloat, ftt lie
c. 1. f.; 8,090 bags San Domingos, at 11 He
c. i. f., and 20.000 bafts Porto Rico?, first
half January, at 12c c. i. f. Howeir? took
300 ton? Perus, afloat, at 11 ^c c. 1. f.. and
It was understood that considerable other
business was pending at the close of the
day, with possible further sales at these
prices.
Coffee Futures?Stronger Brazil market!?
and improved ?pot demand and an Im?
provement in the stock market led to
fairly active buying from Wall Street
throughout the day, coupled with cover?
ing and support attributed to European
Interests. On the call prices were 13 to 25
points above the previous close, from
Which levels there were downward reac?
tions of a feW points on profit taking, but
a special cable at midday reporting an
advance in Santos futures of 300 to 375
reis, together with a sharp advance in
firm offers, wau responsible for a ?harp
upward turn- In prices which sent March
to IS.21, May to lfi.38. July to 16.50 and
September to 16.40-, closing at net gains of
20 to 56 points.
The range of prices follows:
Saturday's
Open. High. Low. Close. close.
jmB .. - - _:? 15.81*16.8? 16.30
p>b ..- - - 16.01 @ 16.05 16.47
March.. 15.35 16.21 15.90 16.21?1?22 15.65
June... - - - 16.4?'it 16.4$ 15.34
July... 16.32 16.50 18.25 1?.554*16.57 1804
Aug.... - - - 1?.48?1*60 15.96
Sept... 16.05 16.40 16.04 16.40?1?.4$ 15.89
Nov.... - - - 1?.10?16.20 15..80
Batter. Cheese and Eggs
Batter?Receipts were 6,961 packages.
Creamery, higher than extras, lb, 70?
70ftc; extras. ?2 score, 68?69%c; firsts,
uo to 91 atare, 6iy.6^s;: tirsu, ?S to 89
score, ?0HiS?3c: Seconds, 83 to 87 score,
B?ffi59'^c; lower grades. 63? 56c; held,
higher than extras. ?8??8Hc; extras, ?7?
?7^c: firsts, B0@65c; seconds, 66?S9c;
unsalted. higher than extras, 72 H ? 7314c;
extra??, 71?72e; firsts, 63? 69c; second?,
67?62c; state dairy tubs, finest, ?S?
69c; good to prime, 60?66c; common to
fair, 62?59c; renovated, extras, 88c; ftrBts,
66@57o; Imitation creamery, firsts, 52?
63c; ladles, current make, firsts, 50?60l-.c;
seconds, 48? IS Vic: lower grades. 48?47c;
packing stock, current make. No. 1, 48c;
Nb. 8, 47c: lower grides, 43?4?c.
Ctieeae?Receipts were 2,463 boxe?. State,
Whole milk, fresh Mate, colored or white,
average run. held flat?, specials, lb, 324?
83c; average run, 31 ?32c; lower grades,
28 ?30 He; twins, held, special?, whites,
3P,4?32c; colored. 314?32c; average run,
colorid white, 81c; lower grades, 26?30>4c;
Wisconsin, whole milk, twins, fresh,
30? 31c; ??igte daisies, fresh. 32?32^e
held, 32?33c; double daisies, held or fresh,
31V?)?32V?c; Young Americas, fresh, 32%
?J24ic; state skims, fresh, specials, 22?
22ftc; prime to choice, lf??Oc; fair to
good, 14? 17c; lower grade?, 7?l8c.
Kg-gs?Kecetpts were 6.4? l cases. Fresh
gathered, extras, per c!<> en, 78c; extra
first?, 7??77e; first?, 74?75c; seconds and
poorer* 62?73c; retiigeiautr, special niari?s,
fancy, charge? paid, 64?S?e; first?, 81?
(lie; seconds, 48? 50c; undergrade?, 30?
46c; sterilized. 56? 80c; dirties, 86?
42c: che- ks. 35?3Sc; Stale. enn.?ylvanla
tnd nearby Western hennery whites, extras,
BOBlfe; firsts t? txt.a Hrsts, 78fa8?c;
under grade?, 74?77c; gathered whites,
firsts to extra firsts, 78?82c; pullet?, 68?
74c, Pacific Coast, whites, express; extra
firsts to extra?. 80?84(.; firsts, 78?79c:
pullets, 65?74c; other Western and South
erp, gathered whites, 74?80c; state. Penn
?vlvanla and nearby, hennery browns,
rancy, 80?Sic; gathered brown and mixed
color?, graded, fancy. 77? 78c; fair to
choice, 74?76c.
Livestock Meats, Prorlslona
Yesterday fear ago
Livo ?teer?, fair .
to prim?, lit
lb?. .......... ?12.7B?1?.75 tlS.25O18.S0
Drened beet,
?lue?, lb.II? .2? .8?? .29
Llv? veal?, corn*
motl to prime,
100 Iba . l?.eo?34.?0 17.e0O88.00
Dres?ed veal,
city, lb.M? .81 .22? .83
Live ?we?, 100
i im. 7 00? ?o.oo l.oooil.eo
: Pressed mutton,
elfy. lb.12? .17 .16? .24
, Dre??ed lamb?,
eltv, lb.25? .80 .30? .84
I Hog?, 100 lbs... I,,.?r??l6.78 l".r.O?l8.2B
? Live lamb?, fair
to prim?, 100
! |b?. 17.60? I? 00 17 60? 18 00
, Dr*??*') holts _
i bacon, lb.. , . . . . .30*?.ll> ..?fiii,/Jt
! Ms?* b??t. bbl.. 21.00?3?.O* 38.6?#t?.o5
Investment
Information
In this department The TVfotme ttrttl
throw the light of such information
as it at its command on the invest?
ment problems of its readers-. The
utmost care is used in the compila?
tion and presentation of ftlkeh in?
formation and we believe it to be de.
pendable. But tve wish especially to
emphasize to ynx reader* the fact
that new dcvetopments of surh im?
portance as to greatly charge :&?
?tail? of a security are constantty
taking place. Therefore, as a matter
?/ self-protection, the investor should
make it a point to keep in close touch
with the affairs of the companies
whose securi'iee he has purchased
and with general developments bear?
ing upon the vaine of such securities.
Constant watchfulness is the best
safeguard the investor can possibly
Have.
Qucstr?hs of general interest to
investors will be answered in thin
column, in which case only initials
wi? be used. ' Others will be an?
swered by mail. Addresc ail in?
quiries, inclosing a stamped, ad?
dressed envelope to Firta-ncial Editor,
The Tribune, 151, Nassau Street, New
York City.
Safety Means Lower Yield
Question?What in ywir opinion would be
the safest bonds to buy for investment,
those giving the best pel- centt Please let
me learn your opinion of New York Gas
and Electric Light, Heat and Power. and ,
New York Central 4%a.? I. H. B.
Answer?The bonds yielding the
highest rates of interest are quite nat?
urally not the safest to buy. The lower
the yieid the better the bond, as a rule.
The best bonds to buy are the war
issues of united States government
The yield is between 4H and 5 per
cent. New York State and New York
City bonds are good investments, but
they do not yield a? much as United
States government issues because the
are exempt from all taxation. Good
?rst mortgage bonds such as Cehr
tral Leather 5 per cent, Atchisoc
general 4 per cent, Union Pacific 4
per cent, Chesapeake & Ohio consol
5 per cent, Republic Steel 1st 5 per
cent aftd Indiana Steel 1st 5 per cent
return from 5 per cent to 5,% per cent
Good notes may be bought to yield
from 6 per cent to 7 per cent. These
notes run up to 1923. Among them are
American Tobacco, Procter & Gamble
and Moline Plow. The New York Gas
5 per cent and 4 per cent bonds aro
entitled to a good rating on account of
the large earning power of the com?
pany, and the fact that they are se?
cured on valuable property in Man?
hattan. New York Central 4% pe?
cent bonds, while not of the highest
?rade, are secured by direct mortgages
on over 3,700 mile3 of which about 300
is. a first lien. The bonds appear to
be a safe investment.
Low Priced Motor Stocks
Question?I wish to invest in one of thf
low price'! motor truck stock?. Will yo I
itease advise in your column what yo "
think kof Republic Motor and White. Moto
?heir respective shares outstanding an.l
?mount earned per share.? ?V. P.
Answer?The Rep'-Vic Motor Truel
Company has $947 000 of preferred
$100 par) and 100,000 share? of com
?non no par? stock outstanding. Earn
ngs for the year ended June 30 las
were equal to 58.55 per cent on thc
nreferred and 4.9?5 per cent on the
common stock. The White Motor Com?
pany has $20 000 000 of stockk, pa:
value $50 a share, outstanding. Earn
ings for 1918 is?ue equal to $8.38 a
share. No report for 1019 is yet avail?
able. Both stocks, in our opinion, are
in a speculative position.
Chinese Government Bonds
$ue8tion-~Pies-;e explain the security bac'.'
of the Chinese government 5s, 1951, and th'
reason why they are selling at 47. Ap
they payable in pounds instead of dollars ?
E. J. .1
Answer?The Chinese 5 per cent
bonds to which you refer were issue...
Jun?, 1911, to provide capital fir thi
construction of railway lines < 1,12-*
miles) and for the redemption of the
outstanding bonds amounting tc
2,222,000 of the loan of 1900 i?sued
by the American China Development
Company in connection with the agree
ment obtained by that company in
1893 and annulled in 1905 for the con
?traction of a railway from Hankov
to Canton. These bonds (?5,000,000
re a direct obligation of the Chines
government and together with the sec
ond of ?4,000 000 are specifically se
cured by a first charge upon provincia
revenues to the aggregate amount c
i,200,000 Haiknan taels (about ?693
'33) per annum. The bonds are re
decmable within forty years from Jun
15, 1911, by annual drawing beginnin;
December 15, 1921, the first payment t
be made June 15, 1922. The principa
and interest are payable in New Yori
in dollars at the exchange rate of th
day in London. This last item eN
Alains why the bonds sell at so low ?
price, as the exchange situation is sucl
that there would of necessity be a con
siderable decrease in the price of tin
bond.
Bonds Would Be Better
O-esMrn ? I have ?"?,'"> wJvch ' hnw ! --"
advised to put into Merritt Oil. Do you
iiiiiR it a reasonably safe? it not, ?iu
? would you advise??J. F. G.
Answer?We do not advise the pu~
chase of oil shares ;'or investment aru*
T"e d" not ftdv'sfe re?rnrdin^ specu'
tion. Merritt Oil may be a good com?
pany, but you would prubably res
?nsier if you boutrht a good bond ( th
Liberty loan issues yield well) ol?
i?me good preferred stock, such as we
mention irom time to time in tuis co.
umn.
Friends' Advice Seems Doubtful
Question ? On the advice of severa
friends I recently bouiiht 200 ?hares of At
lantic Petroleum and 200 shares of Ryan
Petroleum, the stock of Atlantic costing 8%
dollars a share and Ryan 4%. I realize
that these are not what you would call gilt
edge securities, but do yott not think that
the futures of these two companies warrant
buying these shares outright and holtlin'
them as an investment? My brother would
i (ike to know about a stock called J?sevip,
! Kcnnecott, which he bought in 1916 ami
I which is never mentioned in the financial
columna?J. H. I?.
j Answer ? Both Atlantic Petroleurr
i and Ryan Petroleum are well manager
? companies showing considerable ex
pension. We do not know what th
future of the oil industry is, but th
S rices for oil are very high, and w
eubt the ability of some companies
to operate successfully In the event o
a substantial reduction from present
quotations. The stocks you mentioi
are too speculative to warrant an opin
Ion as to their course in the marke'
We are informed that the Josevig
Kennecott Company is not operating
at present.
Aritex Oil
Question?I bou/rht 300 Aritex OU Curb at
% on a rumor that the company had n
6 000-barrei well. What*8 the dope on thi:
?wek t?A. R.
Answer?It was recently stated ur
Officially that in the Rnnger pool the
Brooks well of the Aritex Oil Company
was flowing 2 500 barrels of oil a day.
With a well of this productive capacity
it would seem the company has possi?
bilities.
Four full columns of invest?
ment questions and answers
are published in The Tribune
every Sunday
Some Business Suggestions
for 1920
IN giving thought to your business affairs for the new year,
have you considered the following important matters?
Your Banking Business
?this Company offers every commercial and foreign bank?
ing facility. Deposit accounts, subject to check, bear interest
on daily balances. On certificates of deposit issued for from
three to six months, or on deposits subject to thirty days'
notice of withdrawal, ? higher rate is paid. We invite you
to consult us as to how we may serve you and your business
interests.
Your Interest and Dividends
?the reinvestment of your income to the best advantage
may be a real problem for you. Our Bond Department
is prepared to assist you in the selection of sound bonds,
notes, or preferred stock, offering attractive income returns,
that are particularly suited to your requirements.
Y??r 1920 Investment List
?perhaps a careful expert review of your present holdings
would indicate ways in which you might improve your in?
vestment position. A consultation with our Bond Depart?
ment involves no obligation, and may be of value to you.
The Care of Your Securities
?the clipping of coupons, the making out of Income Tax
certificates, and other time-consuming details in the care of
your securities, can be delegated to us. Our Trust Depart?
ment receives securities for custody, guaranteeing their
physical safety, collecting income and maturing principal for
you, and attending to other matters of routine. The fee is
very moderate.
Making or Revising Your Will
? have you considered arranging with your attorney to make
your will, or to revise it to meet new conditions? A will
safeguards the interests cf your heirs, and by appointing this
Company your executor and trustee, you can save them worry
and expense in the administration of your estate.
You are cordially invited to call at any of our offices?con?
veniently located downtown and uptown?and discuss with us
these and other matters in which we may be able to assist you.
Guaranty Trust Company of New York
140 Broadway
FIFTH AVENUE OFFICE MADISON AVENUE OFFICE
Fifth Avenue and 43rd Street MadUon Avenue and 60th Street
Capital and Surplus $50,000,000 Resources over $800,000,000
?*?
The Citizens National Bank
o? New York
320 Broadway
Cond^-std Statement?December 31, ?919
RESOURCES
Loans and Discounts. f4M?t,ftWH|
Bankers' Acceptances Discounted. 1A16.388 T5
U. S Ro,.ds and Certificates.*. IJHB.mM
Other Bonde, ?eca'itiee, etc. 273,500.00
Due from Federal Reserve Bank, other Banks
and Exchanges .$10.0~4.0?0.0*
Cash and Reserve with Federa' Reserve Bank.. 6.916.6S3.46 lo.99fl.772.54
Customers' Liability, Letters of Credit and Acceptances- 5,801,499.22
$70,923,756.33
LIABILITIES
Capital Frock. ?n.ono nno.oo
Surplus Fund. 3,000,000.00 $6.000 000 00
undivided Profits . 599.514.74
unearned Discount. 422,?7?.?7
Reserved for taxes. 202.161.36
Circulation. 979,400.00
Notes and Bills RediVnunted. 7.3*1.900 00
Acceptances of other Ranks Guaranteed. 1.400 ?15.76
Letters of Credit and Acceptances. 6,034,054.48
Deposits:
U. 8. Government.? 1.130 noo.oo
flanks. M39.452.09
Individuals. 42,283,681.38 47.853,133.47
f70,923?75&3*
OFF^CFRS
Srl?rin 9. Srhenck. President
G?-rard Corn'v, Vice Pressent
Albion K. Chapman. Cashier
?ettne M. Smith, Astlst?rl* Cashier Clifford R. Durham, A???*t**t Cashle*
a:n?s McAPister, Assistant C^sWer 8?*mel (Sha*. Jr? Assistant Cashier
William M. Haines, Assistant Cashier Robert D. Scott, Aa?istant Cashier
Robert B. Raymond, Mgr. Foreign Dept Ernest J. Waterman, Mgr. Trust Dept
DIRECTORS
Fdwin S. Schenek William Fellowe* Morgan Otto L Dommerkh
Robert B. Hirsch Charles I.. Bernh-imer Walton P. Klnsshrr
Ralph L. Cutter Charles Allen Muan Howard F. Clark
Darwin P. Ktnjrsley ***** P**1??* Hertlt A Cae*a*
William S. Gray Garrard Comly John A. Garrer
MEETim.?_
THE BALTIMORE & OHIO RAILROAD CO.
OFFICE OF TUB tsECRKTARY.
llaltlmore, Md., December 17, 1919.
The Boa.d of Directors this day declared
frn.n the net earnings of the Company for
the Six month? eliding December 81. 1919, a
dividend' ?f Two (2) P?r Cent, ort the Pre
ft rred Stork of the Company, payable March
l. i?10, to the ?tetkhelders of record at in?
close ?f business on January l7, 1129.
, Th? transfer book* ?111 not rrose
a W. WOOLFORD, Secretary.
_MEETINGS_I
A. B. LKACbT? CO., INC.
Nbtlee of Annual Meeting ?f AtoekbaMer?.
NOTICE IS HEREBY GIVEN that the
annual meeting of the Stockholder? of A. B.
LEACH ? CO., INC.. will be held at the
office of the Company, ?2 Cedar Street. New
York City, on Thursday. January 8. mo. at
12 o'clock noon, for the purpose of electing
director? for the ensuing year, and for the
transaction of suoh other business as may
properly ooma before the meeting.
M. i. MUR?HY.
Nsw Tork. N. Y? Daossnbar H. 1*8.
ftST*
. .??
A. 88. 1.KACH 48 CO., im?l
Ntrtlro ?f Anna?! Meeting ?f tH?M?JS>t?lsfa?
NOTICE IS HEREBY OI VEN that tf?
am un I meeting of the Stockholders of A. ?.
i LBACH & CO.. INC., will be hela at lHa
, office of the Company. 8u Cedar Street. Key
; Torli City, on Thursday. January I, 192?.
at 18 o'clock noon, for th? purpoe? af
; electing director? for the easttln? y***, ana
(for the transaction of S?oh ?th?r Mataato??
may proparly earn* ?afor? **&M?fRE>
K-w T?*, N. Y? PaansadsayM^SS?*