New-York tribune. [volume] (New York [N.Y.]) 1866-1924, February 18, 1920, Image 16

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New-York tribune. [volume], February 18, 1920, Page 16, Image 16
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New-York tribune. [volume] (New York [N.Y.]), 18 Feb. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-02-18/ed-1/seq-16/>

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Phono, Rector 8000
Joscphthal & Co
IM Broadway, New York
Members
New York Stock Exchange
Foreign
Government
Bonds
Private Wire? to
Principal Cities
Si
MmetsmmmnmmmmmmoMUi
PRICHITT
#CO.
MiM?tnt or
NIV YO.IR
?TOOL IXCHAMOB
INVESTMENT
SECURITIES
SIXTY- BROADWAY
MEW YORK CITY
? '
? i
??????????????? ???????sssssm?
Oil Fields
of
Venezuela and
Colombia
with
MAP
Ash, for Cheviot A. 6
Geo. A. Huhn & Sons
Member*
New York Stock Exchange
Philadelphia Stock Exchange
Chicago Stock Exchange
New York Cotton Exchange
111 Broadway 1416 Walnut St.
New York Philadelphia
Butler Bros.
New Stock
^Butler Bros., the largest Mail
Order House in the world doing
business exclusively with retail?
ers, has announced an increase
in its capitalization and a division
of the old high-priced shares into
shares of smaller par value.
Holders of the old high-priced
shares received five shares of the
new stock for each share of the
old stock so held, and in addition
were accorded the right to pur?
chase one share of the new stock
from the Company for each ten
shares of stock so held.
Butler Bros, is perhaps the
premier investment security in
the city of Chicago. Sharehold?
er! ox no concern have en?
joyed larger dividends, both In
cash and in the form of stock
bonuses, etc.
We heve in preparation an ana?
lytical circular describing in detail
Butler Bros, neto stock and setting
forth our reasons for recommending
purchase of the same. This will be
meited to you upon request,
F.A.Brewer&Co.
208 South LaSalle Street
CHICAGO
Odd Lots
Write Dent. 19
(g?HOLM&(H^r*MAH
Memoirs ttow Toris Stools Wmohemeo
7! Broodwa* New York City
Uptown Office.J? MX ?in? it.
Bursss? Office. lit Lenox Av.. cor. lift? *t
froox Office..Ill K. Ultk It.
areeklr* Office..M Court St
Tenkers Offloe.tl N Broadway
Newark Office.777 Bread St.
I nmi.il i ? ii. .. i. i .,??;. : i i ',.,", i
Jeeee Hort hae been appointed by
Jacauelta dt De Coppet to represent them
f n the New York, Stock Exchange, trading
In odd lot* i
Railroad Stocks
Enjoy Greatest
Boom in Months
Spurt in Afternoon Carries
Prices of Transportation
Issues Up Nearly 3 Points
on the Average
Stimulated by the announcement
that the House and Senate conferees
had agreed on the provisions of the i
railroad bill and that the mensure '
would be reported out of conference
to-morrow, railroad shares yesterday
enjoyed the greatest boom witnessed
in that section of the market in months. |
The movement started late in the after- |
noon, when Texas Pacific soared under ;
the impetus of a sudden and apparent?
ly urgent demand,, and within a very!
few minutes the whole railroad group
i was advancing rapidly. For a time the !
rails presented a spectacle comparable ]
with the movement of industrials at j
the peak of the boom last November, i
Prices climbed so rapidly that order*
"at the market" were In many cases
executed a point or two above the price
reported on the ticker when the orders
I were placed. The average gain in
twenty representative railroad stocks, i
all made in about a half hour of trad- I
ing, was just short of 3 points, and in I
individual issues the- gains ran up as ?
high as 6% points, which was the net ?
advance of Chesapeake & Ohio. South- j
ern Pacific, which was up 4^4, and
Union Pacific, up 5 points, were es
pecially prominent in the advance once ?
the movement got under way. At the
high point of the day Union Pacific j
showed a gain of 7% points over the ;
?ow price on Monday.
Buying of the rails in the beginning
apparently came from banking quar
tera, in which a decided change in ;
sentiment regarding the outlook for j
the carriers was in evidence. But j
before the movement had gone very far ;
there was a rush of speculative buying !
for the turn. Some short covering
was also reported, but it was rela- j
tively unimportant in volume. The
thort interest in the rails, brokers as?
sert, has not been extensive at any
time during the recent break. Rail?
road stocks have undergone a tre?
mendous liquidation, thousands of hold?
ers having disposed of them owing '
to the uncertainty as to the outcome
of government control.
An interesting feature of the market
was that the interest in the industrials
died out at soon as the upward move- |
ment of the rails began. Transactions ?
in industrials were probably lighter j
during the last half hour of trading ?
than in any similar period in many ?
weeks, and the trend was downward. [
During the earlier trading strength
of the oil shares was the outstanding
feature. The statement of oil experts
that there was danger of a serious ]
shortage of petroleum helped this sec- ;
tion of the list. Other industrials ;
moved erratically, with price changes ?
unimportant except in the hich priced
speculative issues. Crucible Steel was j
weak and got well under 200 again,
while General Motors, a ter selline at
the low prices of the year, rallied !
?harply and Closed with a net gain of 6 j
points. j
Money and Credit j
For the first time since January 23 j
the renewal rate for call money yes- j
terday was 6 per cent, and that was the
rate that obtained all day. Stock Ex- :
change borrowers said there was mor? i
money to be had than was needed.
There was also some talk of easier
time money, one broker reporting a ;
loan at 7 per cent on all Liberty loan
collateral. On all industrial collateral,
however, the banks continued to ask
9V6 and 10 per cent. Banks were said
to be in greater supply of money lend
able on call because of deposits being
made to be checked out later on income
tax payments.
The ruling rates for money yester?
day, compared with a year ago, follow:
Yester- Year
Call money: day. ago.
On mixed collateral. 6 5V4 .
On indust'l collateral 6 6
Time money (mixed collateral) :
Sixty days ....... 9%@10 Vk@:Wa
Nirety days .9%@10 6V4<&5%
Four months _9M?@10 ?V*(s.oM,
Four to six months 9*4@10 B^tgSV?
Bank Clearings ? Bank clearings in ,
New York and other cities yesterday
were :
Exchanges. Balances.
New York.$968,918,457 $60,129,959 '
Baltimore. 14,960,135 4,602,444 ;
Boston. 68,171,624 14,562,692 !
Philadelphia... 84,263,526 22,231,066!
?Pittsburgh. 25,545,012 6,682,270
Sub-Treasury?United States Federal
, Reserve credit balance, $53,610,186.
Silver ? London. 84%d; New York,
$1.30; Mexican dollars, $1.00.
The Dollar in Foreign Exchange
Sterling, francs and lire turned a !
shade weaker yesterday, but the change i
was slight. The day s trading was
without definite trend, and operators I
expected the market to remain steady
for a while until some new factor ia
introduced. However, they do not
with any confidence feel that rates
have become stabilized at the present
level, which they regard as a tempo?
rary resting place.
Yesterday s rates, compared with
those of a week ago, follow:
(Quoted dollars to the pound.)
Yester- Week
day. ago.
Sterling, demand.$3.85125 $3.3550
Sterling, cables. 8.36 8.8625
Sterling, sixty days... 8.8187B 3.62
Sterling, ninety days.. 8.3025 8.3025
(Quoted units to the dollar.)
Francs, check?. 14.85 14.50
Francs, cables. 14.33 14.48
Belgium, francs, chks. 18.82 13.92
Belgium, francs, ebls.. 18.80 13.90
Lire, checks. 18.32 18.22
Lire, cables. 18.30 18.20
Swiss francs, chks.... 6.17 6.06
Swiss francs, cables... 6.15 6.04
(Quoted cents to the unit)
Guilder., checks. 37,06 87.75
Guilders, cables. 37.125 37.875
Austrian, crowns, chks. .84 .31
Austrian crowns, cbles .35 .31
Sweden, checks. 18.30 18.45
Sweden, cables. 18.40 18.55
Denmark, checks. 14.40 14.50
Denmark, cables. 14.50 14.60
Norwav, checks. 17.05 17.15
Norway, cables. 17.15 17.25
Pesetas? checks. 17.17 17.47
Pesetas, cables. 17.26 17.65
Greece, ehecks. 11.47 12.11
Greece, cables. 11.49 12.12
Manila, checks. 48.75 48.75
Manila, cables. 49.00 49.00
India, fHpees, checks.. 46.50 45.25
India, rupees, cables.. 46.75 45.50
Japan, yen, checks_47.90 49.00
Japan, yen, cables-48.15 49JE5
Argentina, checks.102.60 102.60
Argentina, cables.102.10 102.10
Brazil, Rio, checks... 27.75 27.76
Brazil, Rio, cables_28.00 28.00
Marks, ehecks. 1.02 1.03
Marks, cables. 1.03 104
Czecho-?lovakia, chTis 2.8 2.8
^- ?
Pacifi? Mills Earned $33.93
A Share on Capital Stock
The ?Seifie Mills in the year ended
December 27, 1919, handled a total of
$44,702^118 of net sales, compared with
$67,044,066 In 1918 and $36,941,921 in
1917. After expenses, etc., n?t profits
were $6,082,921, equivalent to $83.93 a 1
share ?sdrned on the outstanding $16,
746,360 rtock, compared with $8,7Sl,62?, 1
or 44.8? la she preceding year. ^v
Transactions Yesterday in listed Stocks
Summary of Stock Exchange Dealings
Day
before
01,200
6,903,000
787,600
Year
?BO
131.200
485600
616,800
1920
3,799,800
28,991,100
32,790,900
January 1 to dato
1919 1918
3,822,100 8,029,400
13,991,400 16,829,100
17,813,600 21,868,600
Testend ay
Railroad stocks .... 174.800
Other stocks . 718.100
AH stocks . 892,900
Yesterday Dsy before Year aro 1920 191?
U. S. nmnmsK bonds. $8,898.000 $7,629,000 $8,824 000 W44.961.000 ?314.119,000
Railroad bonds . 1,316,000 1,099,000 1,163,000 61.228,000 60,149,000
oXe?bonds ....... 2 374000 2,061.000 1,314,000 69,416,000 62,318,000
AllI bond. ....... . 12,588,000 10,789,000 11,301.000 665,606,000 427,286,000
Record of Stock and Bond Averages
(Copyright, 1S2S, fiew Tork Tribuno Inc.)
Range thas
fsr 1920
Range f ,11
year 191?.
Testerdsy.
20 Railroad stocks . 63.30
30 Industrial stocks . 92.13
60 Stocks . 8?-56
10 Railroad bonds . 71.86
10 Indnstrtsl bonds . 90.41
6 Utility bonds . 73.60
28 Bonds . 79.63
Bls-h. Low. DIt.
1920. 1920. Rate
33Va 25 ?
34'/4 ?
65!/4 6
1*4 ?
1% ~
36/,?
82 8
76 8
8
45',
88%
2
2'/*
63ft
95
?6%
128% 106
61% 42 ?
143% 1241/, 12
64% 43 4
11%
16!/,
101ft
30%
122
47
120'/,
86%
106%
30/,
72
100/4
16%
140/,
99
100%
74%
165'/2
21%
69>/2
65/4
14
67/a
125
85!/,
82
7%
93
Adams Express ...
Advance Komely .
A%z Rubber .
Alaska (?old Mines
Alaska Juncau ....
AllU-Chaimers .. .
Am A st Chemical...
Am Beet Sugar. ?00
Am Bosch Magneto.
American Can .
Am Car A Foundry.
Am Cotton Oil.
80 Am Drug Syndicate.
Snlf*.
600
400
200
300
200
700
1000
56
93%
3S'/2
123/,
77
?6(4
55/,
119%
15'/s ?
60 6
54 4
7 ?
48/,?
8900
200
3600
7100
3900
1400
1800
95 6 American Expresa..
18% ? Am Hid? A. Leather
101% 7 Am Hide & L pr...
38 4 Am Ice Securities...
87 6 Am Inter Corp....
74% 3 Americsn Linseed .
82 6 Amor loro .
16% ? Amer Ship & Com.
Amer Smelting ...
Amer Smelt pr....
Amer Steel Kdy...
Amer Sugar .
Amer Sumstra Tob.
Amer Tel & Tel...
Amer Tob Sec.
American Woolen ..
American Zinc ....
American Zinc pr..
Anaconda . 5600
Ann Arbor ...._ 1300
Ahso Dry Goods!_ 2000
Associated Oil .
Atch, Top & San Fe
Atch, Top & S Fe pr
Atl, Birm & Atl_
Atlantic Coast Line.
Atlantic, Gulf & W I
Atlantic Refining
Net
Open. High. Low. Clos?, chge. BM,
28Va 31 28/, 31 + 2/s 28
38'4 38'/a 38'/4 38"/4? % 38
69ft 69ft 69ft 69ft? % 69
1ft 1ft 1% 1%- 1H
1% 1% 1% 1%- 1%
38% 39/4 38% 39/4 + 1 39'/4
861/4 87/, 86'/4 87/,+ 1/a 87/,
81% 81% 80% 80%+ % 80%
2000 109 109 106/, 109 ? I'/i? 110
5100 42/4 43ft 42 43%+ 1 43/,
1400 128'/a 130/4 127/, 130/4+ 2% 130
300 44/4 44/4 44/4 44/4+ 1 43%
200 12 12% 12 12/,-f Va 12%
200 96ft 96ft 96ft 96ft -f % 96
1200 21% 21% 21/4 21/4- 21/a
2000 103 104 102 104 ? Va 104
300 40 40 40 40 -f Va 39/s
91/a 92/4 89% 92/,+ % 92
77/a 77/a 77/, 77/,? ft 77
86 91 86 90'/2+ 2/2 90
21/a 19% 21%+ 1% 21/,
62 Va 60% 61%? ft 61%
94/4 94/, 94/4? 3/4 94
42 40/a 42 + Va 41/,
124% 126 +
82% 83%+ ft 83
96% 97%+ % 97V
66% 58%+ 1/e 68?
119% 125/2+ 3/2 125
126% 126%
107
76 6
76 5
6/s ?
84 7
176/a 140/4 10
113/, 112/, 7
123/a 103/a
102/8 98/,
33/a 28/4
49 42
93 69ft
134ft 115
111/a IO5/4
19%
61ft
94/4
41
700 124% 128
1000 82% 83 /a
4900 97 97ft
3900 57/, 59%
21600 122/2 126
200 16 16
200 50 50 60 50?2 62/2 54
56/a 57 65/2 57 + /a 56/2 67/4
Il/a 14 11/a 14 +3 12/a 14
51/, 6IV4 49 60!'a? 1'/a 49% 50/2
200 113 113 113 113 + 4 113 118
6400 79 83 79 82/2+ 3/a 81 83
100 77 77 77 77 + ft 76/2 77/2
200 7/a 7/2 7/2 7/a+ % 7 7/2
1000 88 88ft 88 88ft+ 1 112/4 113/4
1900 142?/2 145/2 141% 145/2+ 2'/a 146 148
100 113/a 113/a 113/, 113/,+ Va H2/4 113/4
3/a Baldwin Locomo Co. 66100 IO8/4 108ft 105% IO8/4+ % 108/,
98/2- 98
31/a+ 2 31/4
44+2 43 /a
69ft?10/, 65
100
1700
600
300
98'/2
29/,
42/,
69ft
1 ?
1%
31ft
95/4
102/a
14%
10
15
120
8
11/a
29/4
27/4
28%
85/2
46
75'/?
68
134
100 97
104% 72
108/2 104/a
61% 45/4
62 47
144ft 118%
56% 47
6
9
25
38/2
54/4
87%
120% 113
IO6/2 82
28/4
72
61/,
45/4
21/4
41%
40%
44/a
24%
65/a
67
56
20%
93%
13%
00
107
31/4
17/a
81 6
84/2 5
10% ?
6% ?
10 ?
93 10
6% ?
7%
22
15 ?
17 ?
74/4 6
27% ?
65 7
59/2 4
115/4 10
7
6
7
4
4
8
4
4 ?
7 ?
21 2
30/4 ?
453/4 ?
700
600
200
16900
1000
16C0
800
1100
200
400
1200
200
1000
1600
76
23 /a
64/a
64
42
15/,
32/4
33%
36/4
20
36/a
52
46
1?%
78
11
76/4
101
Bald Locomo Co pr.
Baltimore & Ohio...
Baltimore & Ohio pr
Barnett Leather . ..
Barrett Company ...
Barrett Company pr.
Batopilas Mining
Beth Motors .
Beth Steel .
Beth Steel Class B. .
Bklyn Rap Tran...
Bklyn Rap Tran ctfs.
Booth Fisheries Co..
Burns Bros .
Brunswick .
/a Butte Cop & Zinc...
Butte & Sup Cop_
Butterick Co .
Caddo Oil .
Calif Packing .
Calif Petrol . 2000 3V/
Calif Petrol pr. 200 69
Calumet sV Arizona... 200 61
Canadian Pacific_ 3800 118
Case, J I, pr. 200 97
Central Leather. 3900 76'.
Cent Leather pr.
Cerro de Pasco.
Certalnteed Corp ....
Chandler Motors ....
Chesapeake & Ohio...
Chic & East 111 pr...
Chic Gt Western.
Chic Gt West pr.
Chi M & St P.
Chic, M&.8tPpr..
Chic & Northw'n_
Chic St Nwn pr.
Chic Pneum Tool_
Chic, R I & Pac_
Ch, R I & P 7% pr..
Ch, R I & P 6% pr..
C, C C & St Louis.
Chile Copper .
Chino Consol Copper
400 115/g 116/a 115/, 116/,? % 115/a 116%
200 IO5/4 106 IO6/4 106- 106 106
/a
1
21
81/a
87%
12/a
9%
10%
105
6ft
8%
24
19
20.
79%
33
69
61
121
97 97 97 ? /a
78/4 76/a 78 + '/,
200 104/a 104/a 104/a 104/,
1400 48'/a 49 48 49 + /a
300 49% 4934 4934 4974? 1/4
6600 125/4 12934 124/4 129/4+ 2
1500 4934 55/4 49?4 55/4+ 7
117/, 109
7 National Aniline pr.
6 Nat Cloak ft Suit...
? Nat Con & Cable. . .
6 Nst Ensmel & Stpg.
5 Nstlonsl Lead .
7 National Lead pr...
? N R R of Mex 2d pr
1/e Nevada Consol Corp.
? Now Or, Tex ft Mex
10 New York Air Brake
S New York Central..
? NY, Chi ft St Louis
2?/, Now York Dock.
5 New York Dock pr..
? N Y, N H ft H. 10900
1 N Y, Ont ft West... 4600
7 Norfolk ft West_ 1200
7 North Pacific . 6600
6 Nova Scotia Steel ... 700
4 Ohio Gas . 2000
/, Okla Prod ft Rofln.. 1500
? Ontario Silver . 1000
? Otis Steel .
3 Owens Bot Msch...
6 Pac Gss ft Elec
6 Pan-Amer Petrol . ..
7 Pan-Amer Pet B
3 Parish A Binghsm..
3 Penn R R.
? Penn Sesb Steel
? Peo Gas ft Coke
? P?re Marquette ....
? P?re Marquette pr. .
5 Pere Marq prior pr.
3 Philadelhpia Co ....
4 Pitts, C C ft St L. .
? Pierce Arrow .
8 Pierce Arrow pr....
? Pierce Oil .
8 Pierce Oil pr.
? Pitts ft West Va...
6 Pitt? ft West Va pr
1 Pond Creek Coal_
8 Pressed Steel Car...
8 Pullman Pal Car...
5 Punta Alegre Sugar.
8 Railway Steel Spring
2 Ray Consol Copper..
4 Reading . 8900
2 Reading 2d pr. 200
? Rem Typewriter. 400
7 Rem Type'r 1st pr. .. 700
117/4 120/,+ 1/4 120
103ft 106
48/a 49/a
900 4
300 8
300 22
500 32
400 50
2000 78'/
200 116
300 83
6000 253
2000 67
700 58
300 45
700 16'
1000 353
Coca Cola . 2600
Col Fuel & Iron_ 300
Col & Southern_ 600
Columbia Gr.iph .... 4600
Col Gas & Electric. . 200
Comp Tab Record... 200
Consol Int Calla Min 74900
Continental Can ... 6C0
Continental Candy . 400
Corn Products . 7600
26/a -
233/a 191 12
100
54/a
85
96
19.1
9
13%
4/4
28
39
29
147
13ft
21/a
15
95
89/a
33ft
48
36/2
19/2
100
75%
94%
346
89?4
85/4
90
85ft
102%
65/2
49%
81 Va
41
38/,
84ft
62%
108
38/4
18
90
22/2
61%
4/4
135
61ft
111ft
69/a
26%
89/,
5
61/a
16/t
47 /a
152/a
106
90
33%
48/a
91%
19%
38ft
44/a
18
32
28
70
183% 160
1121/2 98
64 61
136/4 10?
48
33/a
36%
131
?22
26
71%
62%
14
?ft
14
28ft
43
?9/t
00%
38ft
25
72ft
97 7
40/4 ?
79/a 7
89% 9
165 10
6 ?
9 ?
3'/i ?
20/2 ?
35 3
20 ?
108 5
9/a ?
17% ?
12/a ?
65/, 8
85 8
26/4 2
33 ?
21 ?
12 ?
98
68/,
85
225/2
73/a
69/a
84
66/4
?94/,
37 ?
32 2
68 /a 7
33 4
29% ?
68% ?
60 4
88 7
35 ?
13 1
80ft 7
13/, ?
50/, 6
3% ?
114 6
27% ?
76/, 6
60 7
19% ?
72/a ?
5 ?
397/, ?
13ft ?
44 4
108 4
96 8
87 ?
27% 2
6
6
7
12
6
6
7
6
7
Corn Products pr.
Con Textile . 700 27
Crucible Steel . 35900 197
Crucible Steel pr_ 200 98
Cuba Cane Sugar.. . 8900 43
Cuba Cane Sugar pr 700 80%
Delaware & Hudson. 3600 90'/4
Del, Lack ft West.. 400 170
Den ft Rio Grande.. 1600 6%
Den ft Rio Grande pr 1200 10/4
Dul, So Shore ft Atl 100 4
Elk Horn Coal. 400 21/4
Elk Horn Coal pr. .. 200 33
Emerson-Brandt _ 200 22/4
Endicott-Johnson
Erie . 2400 12 13!/
Erie 1st pr. 29C0 18% 20!/
Erie 2d pr. 500 12% 14
Famous Players ... 2600 70% 72'/
Famous Players pr.. 400 86/2 87
Fed Min & Smelt pr. 200 28>/2 28!
Fisk Rubber Tire_ 4000 34'/, 34^
Freeport Texas _ 1400 23/, 24
Gaston Wms ft Wig. 2600 13 13'/
Gen Chem Co pr... 200 98 98
General Cigar . 2000 65/2 65?
Gen Cigar pr deb_ 200 85/8 85!
General Motors . 319C0 225% 2?8
4 ? 1
8%? /?
23 + 1
36 + 3%
63+3
81/a+ 2/a
116 + 3
82?2
29 + 3/4
70 + 2ft
64 + 6/4
45 + I/a
163/4+ '/,
36 + 1
39 + 1
38/4? Va
23+3
42/4+ 1/a
56 ? Va
47 + 1
18%+ /,
80 -
11/s? /s
80/,+ '/,
61800 100% 101
124% 98/a 6 Repub Iron ft Steel
10634 IOO/4 7 Rep Ir ft S.teel pr..
110% 93ft 6.20 Roy Dtch, N Y sh.
21% 13%? Saxon Motors . 1000 15/,
19% 15% ? St Lou & San Fran.. 6800 17/a
27 23/2 ? St Lou & San Fr pr. 400 26%
14 11 ? St Louis Swn . 200 13
25/a 21 ? St Louis Swn pr_ 300 24
7/a 6/a ? Seaboard Air Lino. . . 2900 7/4
I5/4 123/4 ? Sesb Air Line pr_ 400 14
12ft 10% 1 Shsttuck ft Aril. 800 11%
90/4 75/a % Shell Trans Ter. 10800 80
4834 343/4 ? Sinclair Oil . 39900 38/4
82',4 64 6 Sloss-Shef St ft Iron. 200 69
105% 88/, 6 Southern Pacific_ 13100 92/,
23 18 ? Southern Railroad .. 3100 20/4
56/2 50 6 Southern Rail pr .. 300 52ft
86/2 60 4 Stromberg Carb _ 2600 58/4
115% 8I/4 7 Studebaker . 29100 85/4
137/a 100% 5 Stutz Motors . 600 111
12/4 9/4 ? Tenn Cop ft Chen?.. 2200 10
231 166/, 10 Texss Company
43% 25 ? Texas ft Pacific
98/, IOO/4? 1/a 100'/. 100%
200 100ft 100ft 100ft 100ft? /, IOO/2 102
9100 96/4 IOO/4 96/4 IOO/4+ 3ft 100 100/4
Texas Co 30% pd
9600 178/4 183% 177
3000 28 32 27%
200 IO4/4 104% 104/4 IO434 +
33,4 195/4 196
110%? 3/4 112/a 113%
63 48%
53 40/a
204/a 176
6 Tobacco Prod . 3900 67
7 Tobacco Prod pr_ 200 92</2
? Tobacco Prod rts .. 2000 %
? Trsn Con Oil. 10600 22/4
6 Trsnsue W Steel_ 200 55/2
8 Underwood Type Co. 300 172
8 Union Bag & Paper. 200 88/2
? Union OU . 15900 29/,
10 Union Pacific . 16200 115
4 Union Pacific pr. ... 400 66
3/2 United Drug 1st pr.. 300 49%
4 United Alloy . 700 44
12 United Fruit . 400 182
? United Ry Invest... 300 9/2
? US Cast I P ft Fo. 200
5 U 8 C I P ft F pr.. 400
2 US Food Prod . 1600
9 US Industrial Alcoh 11200
11534 109ft
80% 68%
U S Realty ft Imp ..
Un Retail Stores....
Un States Rubber.. .
U S Rubber 1st pr...
U 8 Smelt ft Ref_
U 8 Smelt ft Ref pr
U 8 Steel .
100
12900
24100
18
45
58%
82
45
68
97 /a
100 173/a 173/a 173/2 173/s
200 110/4 HO/4 HO/4 HO/4? 1/a HO/4 111
300 64 64 64
200 45/2 45/2 451/2
61900 971/2 98% 961/4
U 8 Steel pr. 1600 1103/a 110/3 110
Utah Copper . 800 69% 71% 69%
Vanadium Steel _ 100
Vs-Carolina Chem . 400
V? Ir, Coal & Coke. 200
Wabaeh . 1000
Wabash pr A . 1600
Wabash pr B . 400
West Maryland _ 2000
West Msry 2d pr ... 500
West Pacific . 2000
48
6234
77
7/a
22/a
15
9/a
15
23
58 Va
84/a
West Pacific pr_ 100
West Union Tel _ 200
Westing Air Brake.. 100 110
Westinghouse Mfg . 1600 50
Wilson Co . 200
Wheeling ft L E ... 5100
Wheeling & L E pr. 100
White Motors . 1000
Willys Overland ... 15600
Willy? Overland pr.. 300
68
101/4
19/2
53
2434
88
48
63
77
8/a
24
15
10/2
17%
24/a
58I.-2
841/a
110
50/4
68
12/,
19/2
53'/2
25
88
63 64%
45/2 46 /a
98/2 98%
HOI/2 111
71/4 7U
47
62/a
77
8
23?4
15
IO/2
17/a
24
57
84
109/a
50/,
67
11%
19
63
24ft
87
?Ex dividend,
Woolworth . 300 122/, 122/, 122/, 122/?+ 1% 122
Worth Pump ft M.. 1000 74/2 75ft 74/2 75ft+ 3 75/a
/*
48
63/a
82
8/4
24
16
10%
20
2434
60
85
110
50/4
69
12
20
54
25
89
125
77
3000 80'/
200 60
3900 20?
800 743,
300 5
400 42
200 15
400 44
800 114
200 98
General Motors pr. . 400
Gen Motors 6% deb. 2600
Gen Motors 7% deb. 200
Goodrich, B F. 3600
Goodrich, B F, pr. .. 800
Granby Mining . 400
Gray Davis . 200
Great Northern pr. . 2600
Gt North Ore subs.. 1400
Greene Can Copper. 200
Gulf State Steel. 200
Hask ft Bark Car Co 300
Hartman Corp . 200
Hendoe . 200
Hupp Motor . 700
Illinois Central - 1900
Int Agricul . 200
Inspiration Copper . 3800
Interbor-Con Corp .. 800
Internat Harvester .
Int Mer Marino......
Int Mer Marine pr..
Int Mot Truck 2d pr.
Internst'l Nickel ....
Internat! Paper.
Iowa Central .
Iron Products .
Kansas City South...
Kan City South pr...
Kelly Springfield -
?Kelly Spfd 8% pr. ...
Kelsey Wheel . 300
Kennecott Copper ... 3600
24ft 1.20 Keystone Tiro . 4600
68 6 Lackawanna Steel .. 3900
16 ? Lake Erie & W pr. 300
28 ? Le? Rubber ft Tire.. 400
40/a 3/a Lehigh Valley . 1000
14/, ? Lig ft M Tob Co rts. 9100
25/a 2 Loews, Ino . 1600
17/, ? Loft Candy . 1400
46 ? Loose-Wiles Bis _ 1000
12
7
4
10
3?% 7
2?/a -
18/a ?
117ft 7
161/, 10
21/4 2
22%
43/, 4
9 ?
6 ?
8%
21 ?
36 ?
62 S
99 7
SS/* 31
HO/4 7
44 ?
233/a 234/a
76/a 76
%
31?2
62 -
64 + 1
88+2
38+8
14 + Va
87/4+ 3/4
16 - 1/4
53/4+ /,
3%? V*
82/a+ 1%
60?6
20%+ I/,
76/,+ 1/,
42/a+ Va
16/2+ 1%
45 + /,
Bid and Asked
Bid. Asked.
Allis-Chal pr.. hi) fiHi'iM
Am Bk Note. 40 45 lue
dour. ii% 45H? ?o lu pr...
Am Bl Su? pr 88 91 iiut. papor pr
Am 11 S & F 87 lOOVsUct SilM.ll pr
. do pr . ? 200 -lut Suit
Am Cm pr... 95 ?8 luw? Centrai"
Am ? * f pr.ll?Vi lH*U?oi Va?.
Am Co* OH or ? 87 l do pr
Am lea Sea pr M 60 IJotiu? Ta?
Am La France 12% 13}?!.) Kajier
Am Unseed pr 94 96 iKt'Vts
Am Loco or...102 lut!
Am Malt & Ur 3014 aa
Am Slupbld,.. ? 12S
Am Bm pr A.. 79 ?l
Am Suuff ur.. 82 00
Am St Kdy pr 91 92
Am Suaar pr. .11? 118
Am Sum TVpr. 83ft 80
Am T>ji it C.. 59 55
Tobacco...223
Bid. Asked.
Harr pr .111% 113
Mot Truck ? 120
4h
do
i pr new.. 93U .6
Woolen pr.lOllS 103
115% 113 115^4+ % 116
98 98 98+1 98
Lorillard, P . 200 164/, 164/a 154/2 154/a+ 4/2 162
200
34100
Louisv & Nsshv.
Mackay Cos pr....
Manat? Sugar ....
Man Elevated ....
Manhattan Shirt ..
Maxwell Motor Co..
May Dep't Stores...
Mexican Petroleum.
Miami Cons Copper.
1,20 Middle SUtes Oll .
M id vale Steel . 4800
Minn ft St Lou new. 300
Mo, Ksn * Texss_ 3900
Mo, Kan ft Tex pr... 200
Missouri Pacific . 8900
Missouri Pacific pr... 1000
Montana Power. 400
Montana Power pr... 200
National Acras .
National Biscuit
National Aniline
1600 100/,
900 62
200 111
400 46 ft
300 29/2
200 22/,
100/,
62
111
47
30/,
24 l'a
100
62
110
46/4
29/a
22/,
100 +
62 + 1
110 ? 4
47 -
30^+ %
24/a+
27/4
20
49
155
Va 101% 103
62 62/,
102/a 103
46 49
29 /, 30
23 27
100 117ft 117ft 117ft 117ft? % 117ft 11814
19600 167/a 174% 166 171/4+ 2% 171/4 172
22
34/a
45/*
11
7/a
11ft
23
89/,
63
99/,
300 361/4
300 111
2000 61
22
36
46
I2/4
8/4
13/a
26/4
41
63%
99/,
361/4
112
63%
22
33%
46
11
7ft
11ft
23
39^
63
99ft
36/4
111
?1
22 ? 1/4
34%+ /,
46 + 1/4
12/4+ 1%
8/,+ V/a
13/a+ 2%
26 + 3/4
41 + 2ft
M%+ 1%
?9/,+ /,
36/4+ ?/?
112 + 1% 110
?3%+ 2% B3J/,
22
?"7B
46
12
8ft
13
28%
40ft
63
?9
36/a
22%
34%
46ft
12ft
8ft
14
26ft
41ft
63ft
100
36ft
112
MM
Ann Arbor pr. 23
Aaeeu Keailz. . 3 H
A D O 1st or 69
do 2d pr ... 68
A Q A W I pr 60
Auto Sales Cor U%
do pr . 2?2
Bald Loco pr. 98
Bam Leath pr ?0
Beta 8t 7th pr 97
Bklyn Edison.. 91
Bklyn U C?a?.. 62
Brown Shoe... 90
do pr . 9?
Bums Bros pr 99
Buff RAP.. 46Vs
do pr .?
Buff A 8uaq. ?
do pr .?
Bush Term .. ?
Cal Pao? pr..lir
73
70
16
28 hi
85*
4
16
24
,, .,,.1U6
KCKtS&M pr.. 52
ivoi ?uriiyj ur 93
lvuiat>> Wu ur Uli
Kook A 1> it 8
?do pr . 20
Krrago S 8... 126
''o ?X .lui
kj-oa? & Ob... 78
, do ur .luo
Liclodt? Gas... 3?
1. K i We4t.
Ug? i M Tob. 157
T do pr .100
L-H B lit pr. 98
do 2d UT....110
Xjorlllaxd F pr.104
Mackay Cos . m
Manat? Bug pr S)5
M an hat Boach V
Mar Kockwaii. 60
100
90
70
8
17
ih
115
63
M%
9b
5
Bid. i
Tide Wstor O.160
Tt>ii,&\V ctfs.. 10
do pr ctf?., 15
Twin City U T 30
do pr . ?
Vnd IVpew pr ?
U C 8 of Am. 160
do pr .108
United Drug...l;;0
do 2d pr. .130
OBI Aleo pr oy
U S S A It pr. 46*
22
3H4
104
Bid. Asked.
Utah Sao Corp i>% 10
Va-Car Ch pr.100 107
Vul Dettnulng. 24 26
do pr . 88 90
W-Pargo Ex.. 47 60
W Mfg, 1st pr 62Vfc 6?
Wilson Co pr. 95 9$
Willys-Over pr 25 34
Woolworth prill 113
W P&M pr A ? 9?
, do pr B.... ?? Tl
Stock Ex Dividend
19 Acme Tea 1st pf.
1*
8!4
100
09
110
60
100
70
100
125
0 ?J
pr:: 8
Can South .. 41U
Cent Fdry ... 20 ?
do pr ...... 80 ?
Cent of N ?..163 ?10
0 A S A Tel. 110 114
Ow Cor Ul pr 84?
Chlo A Alton ?
do pr . 9
8 s K la pr, S
St T U AC
do pr .
??C?JKL _.
Ctast8-Poabod> 85
do_pe .1*1
Col ?A I pr. ?
C A B l?t pr 41
do 2d pr_ 40
Col Graph pr ?
O? Os-r pr. TTH
Con Ou _ T6
Coot Can pr. .104
Com Incur ...ft
On* Carpes.. So
Cub-A Buxsf..8?0
do pr . p9
Ootr Edison...108
T>etr V R R.. ?
Diana Malen.. 118
p S B A A pr i
Durh Hosiery. 86
do pr .98
Bm-Brsndt pr 8?H
. Math Alk .. ...
?'S May D St pr.104
Mex l'oiroi pr ?i
Mich Cwitml. S2
M?tl'&SSM pr ?0
, d? i 1. 50
MorrU & E?s. 7,jia
Mullina Body. 40
do pr . 97
N'a?h A Chat. 100
Nat Biscuit pr.llO
N Clk & 3 pr.100
-N'at B &. H pr.101
NBJlofM 1st pr ?
NVC&StL 1 pr 63
do 2d pr- 42
Y L, & W.. 85
N'orfolf Bouth. 10
Norf & W pr. 89
Ohio Fuel ... 4S
Oti* Elevator. 120
do pr ..110
O?a Steel pr.. ?
Owens B M pr ?
Paolflo Coaat.. 15
io 24 pr.... 45
Pacific Develop 85
Pactno Mall ., 25
Pacific I? la
Pan-A Pet pr.175
Ponn I C pr.. 91
JVorla A East 11
Pettlbofie Mulll S3
rtirbsaks ..
red \Oa A 8 11
?laher Body..183
do pr . 80
Gen Cham .,. 180
On Cigar W.. 62
Gulf MAN.. 7
do pr . is
In* Asrteult pr ?s
10?
75
55
440
105
if?*
100
128
8
?4
103
??Vi
? Ti
do Ut pr
P Ft W A C.122H 131
107%
48
10
176
110
100
120
107
70
100
70
25
110
100
40%
ULI
112
103
U
70
49
127
1?7
PttU Steel pr.
Pr 8tl Car pr.101
P B O of N J. 65
Ry St! Bpg pr.102
Reading 1st pr 34 H
Rep Mot Trunk 45
Hoara-Roeb .215
81-8 8 A I pr 90
S P R Sugar. 200
do pr .110
Stand Mining. 120
do j? . 80
Stew Warner.. 40
Studabakor pr. 90
18*
18S
10?
185
8 ?Super 8teel i>r.l?0<a ??5
80?, T A P Ld Tr.240 350
T? iTturd A? R B Uta 11
Feb.
Feb. 28 American Expross ....'.'.' ? ?T
Feb. 27 Am Smert & Ref.. .. 1
Feb. 20 Brown Shoe . . iac
Feb. 20 Cerro de Panco Copper:"" 1
36 Delaware St Hudson . 314
Feb
Feb.
Feb.
Feb.
Feb
Feb.
Feb
Feb
28 Diamond Match
20 General Chemical
34 "
24 General Cigar pf. i%?
20 Green Bay & West R ?..'.'. t
21 Harbison-Walker Refract.!... 1>4
28 Int Motor Truck temp 1st pf! S'A
28 do 2d pf . a2
Feb. 21 Manhattan Shirt .!.?3 4in
Feb. 18 Martin Parry Corp . iT
Feb. 20 Middle Statea Oil temp. ! ! ! '. '.2 atk
Feb. 20 do
Feb. 20 National Cloak ? "suit" of
Feb. 20 National Lead pf .
Feb. 28 Norfolk & Western liy
Feb. 20 Pitts, Young & Ash By pf"
Feb. 18 Pressed Steel Car . .
Feb. 20 Reading Company Ist'pir"
lie
1%
1%
1%
Mi
Feb. 18 S'.andard Mining" . . '"''"" ,
Feb. 18 do pf . _;.!. ji,
Feb. 20 Studebaker Corporation" !."! ! l2
Feb. ?o Ar. ^r ' ? ? 7*
Feb.
Feb.
Feb.
do pf . j?.
United Cigar Stores pf. 1 a?
United Drug 2d pf . 1 ?
L'nitod
Drug 2d pf. 11^
. -?-??-.
Dividends
Extras
St. Joseph Lead Company?An extra
dividend of 16 cents a share has been de?
clared In addition to the regular quarterly
dividend of 28 cents a shara, both payable
March JO to stockholders of rooord
March 8.
Regular Declarations
American Tel A Tel .
Calumet Arts. Mln.il
Crip Ck Ct R R pfd 1
Colorado Pawer pfd 1 %
Ps- Pay
Rats rlod able
Orany A Davis_
Ooodyear TAR...
Holllnger-Mln Ltd.
Mergenthaler Lino.
Nat Anl A C pf d..
Oft-il -Fl Mills pfd.
Quaker Oats com..
do pfd .
Roch O 4? B pfd...
Lnlon Bag A p. . ,|2
Un Auto Strs pfd. 2
do pfd.2
Weber A Hellbi'nr 60a
Willy, Cp 1st pfd..$2
National Bursty_?
5 0c
S
1
2%
1
1%
3
.1*
Holders
of rec.
Apr 15 Mar II
Mar2J Mar 8
Mar 1 Feb 16
Mar 16 Feb 28
Mar 1 Feb 24
Mar 1 Feb14
Feb 26 Feb 14
Mar 31 Mar 8
Apr 1 Mar 15
Mar 1 Feb 28
Apr 16 Apr 1
May 2? May 1
Mar 1 Feb It
Mar 15 Mar t
Mar 1 Dec 1
Mar 1 Feb 3
Apr 1 Mar 16
Feb 1 Mar 1
Apr 3 Mar It
In Wall Street
Another Rise In Discount Rate??
The financial community was given to
understand yesterday that big things
were under discussion before the quar?
terly session of the Federal Reserve
Board and the advisory council at
Washington. It was taken for granted
that the chief topic of discussion was
the credit crisis. It would not sur
! prise Wall Street to see another ad?
vance in Reserve Bank discount rates
before many days. There was talk yes?
terday of a rise in the rate by the
local bank before the end of the current
week.
Rails to the Front
Wall Street is given to .quick shifts
in sentiment. Changes in its mental
attitude are oftentimes kaleidoscopic.
Bulls turn bears and bears turn bulls
with amazing rapidity at times. Ac?
customed as the financial community
is to such rapid-fire changes in feeling
the reversal in form in the market for
railroad stocks was so sudden and so
unexpected yesterday that it fairly took
the jireath away. Up until yesterday
I afternoon railroad stocks were classed
among the "undesirables," either for
investment or speculation. A few
j houses continued to insist that the rails
were good things to buy because they
I had few friends, but in the main the
I feeling has been right along that the
! rails were in too uncertain a position
because of doubt about their future to
be "good things to buy." So the ag?
gressive buying that developed in the
rails in the afternoon came out of a
clear sky.
Floating Supply Small
Buying of railroad stockB, since the
sharp break of a week ago which car
' ried the whole group to the,lowest level
j in over twenty years, has been much
I better than the selling, according to ex
j pert market observers. Evidently
enough investors had confidence in the
future of the carriers to take a chance
particularly with prices at such low,
levels, and the buying from this quar- j
ter resulted in reducing the floating
supply, which was never large even
during the recent liquidation. Natur?
ally any important expansion in the
demand would be expected to put price
up with a rush. This happened yester?
day. With the feeling growing around
the financial district that the compro?
mise railroad bill, which it was report?
ed would come out of conference to?
day, will be favorable to the roads in
the long run, a substantial increase in
buying came into the market. Prices
! began to march ahead and as the word
i went the rounds of the district that a
| real "move" was on in the rails the
buying power was augmented consid-,
; erably. At that it did not take a whole
! lot of buying to push the rails ahead.
< Chesapeake & Ohio, for example,
! moved up 6% pointa on orders aggre-.
'' gating not more than 6,000 shares. ;
The turnover in Union Pacific, which
; advanced 5 points, was only 11,400
! shares. It took only 1,500 shares to j
j put St. Paul common up nearly 4?
I points.
Money and the Market
Discussing the money situation, a]
leading broker says: "A careful study j
j of the returns of the New York Clear- j
! ing House institutions and of the local |
] branch of the Federal Reserve, coupled j
| with the statement of the entire Fed
? eral Reserve system, indicates no
i reason to look for a removal in any de- j
j partment of the ban upon speculative j
expansion. It is not to be inferred j
that Wall Street is to be put through a
further severe purging process; on the*
j other hand, the banking authority j
j seems to feel that the Stock Exchange ?
has nobly recognized its responsibility j
and curtailed its borrowings so that no |
special restrictive measures, aimed i
directly at it, will be necessary so long
as the call for credit does not greatly j
exceed the present total. There is no j
reason why, with favorable news in the |
railroad labor situation and with re
j spect to the bill for railroad govern-1
' ment, the money situation should |
stand In the way of a further better- !
ment of prices. If there is no great ?
i increase in the volume of business the ,
i average of prices might be advanced a J
j few points without any serious en-1
croachment upon the credi? situation, i
for the short interest is still of un- j
usual proportions."
Baldwin Locomotive
Baldwin Locomotive, which was !
pounded down to 103 Vs on the recent
setback, rallied to 108% yesterday af- !
ter selling as low as 105% on the early
dip. A special reason is being given
for the fall in the stock during the
last week or so. It was reported yes?
terday that a large block of Baldwin,
some 60,000 shares, had been over?
hanging the market. Part of it had
been sold through the exchange and
part had been placed at private sale.
This stock was held in the account of
a large operator, the Street report has
it, who had lost heavily in the break
in the high-priced motors and was com?
pelled to jettison a lot of other stuff
he was carrying to keep from being
swamped.
Massachusetts Pays High
The^Commonwealth of Massachusetts
had to pay close to 6 per cent for
of two issues of short term notes.
Salomon Bros.' Hutzler took a $7.000
000 issue yesterday, dated February
18, 1920 and maturing February 19,
1921 and an issue of $3,000,000 matur?
ing November 18th next on a basis of I
5.85 per cent. An additional $2,700,- j
000 of notes is to be sold by the state. ?
The proceeds of the notes will be used
to pay the expenses arising out of the j
police strike and to take care of bonus?
es voted to soldiers.
Premium on Steel Products i
Judging from trade reports the de- j
mand for steel and steel products !
shows no signs of slackening. In many
cases consumers of steel are said to j
be offering big premiums in order to j
obtain a more rapid delivery. Auto-1
mobile makers are reported to be offer- j
ing premiums ranging from $40 to !
$80 a ton for certain grades of alloy
steel. The situation in making de
liveries is aggravated by the scarcity '
: of railroad cars to carry the steel away
from the mills.
-
California Packing
A director of the California Pack?
ing Corporation said yesterday there
is no reason to worry over possible
curtailment of the company's export
business while the demand maintains
its present proportions. Official es?
timates indicate that the total billings
! for the fiscal vear ending this month
? will run from $7,000,000 to $10,000,000
j in excess of the $70,000,000 figure made !
i the other day by Vice-president Bent
ley.
The "Strong Interests?*
Floor traders who had their troubles
yesterday in trying to keep prices down
sent out word from the exchange long
about mid-day that certain "strong
interests" who have not favored con?
structive operations for a month back,
have taken an optimistic stand and are
mildly bullish. This could not be-con
flrmed.
New York Telephone
Deo. oper. rev-$6,818.453 Ino. 11,941,88? I
Net oper, revenue. 2,021.882 Inc. 843.954 ,
Oper. Income .... 1,628,378 Ino. 168.288 ?
Twelve moa tTOBS.72.63B,67-4 Ino. 1.170.67?!
Net revenue.21,294.621 Ino. 841019:
Operating Income. 16,981,990 Ino. 808,908
American Tel. & Tel.
Deo. oper. rev-14.454,691 Ino. 81.156,15? ?
Net oper. revenue. 8,185.888 Ino. 863,18?
Oper. Income_ 1,908,611 Ino. 1.229,891
18 moa oper. rev.46,493.108 Ino. 9.440,860
Net revenue .80,943,188 Ino. 2,014,769
OparaUng lnoome.17,688,??? Inc. 2,J70,638 ,
The Bedrock Security
of
Municipal Bonds
demonstrated by the experience
of a prominent insurance eon>
pany in these investments.
Income derived therefrom Free
from Income Tax and worry
Booklet and List No. B-f |0
of Municipal Bonds
Yielding 4V2% to S%% |
Sent Upon Request
Spitzer, Rorick
& Company
Established 1371
Equitable Bldg., New York
Toledo Cbicigt,
Adverse Factors
and
Some Remedies
Discussed in this wetk's issue of
THE BACHE REVIEW
The REVIEW is issued ?echona
Copies ma)) be had upon request
J.S.Bache &Co.
ESTABLISHED 1688
Uembers Sew York Stock Sxchsngs
42 Broadway New York
B-anches and Correspondente
throue'iuul the United fciaret.
"Bankers' Road," so called, in
splendid condition?should be?
come a contender for market
leadership?
UNION
PACIFIC
a concise analysis and timely
discussion?also data on?
5 LOW PRICED RAILS
gplei-ted for their poas?billM?? et
doing bf-tter marketwiae under pri?
vate ownership.
FOREIGN CREDITS
a brit-f wrttcle and a summary of ?
few companies that are benefiting
from the Webb-Pomerene Law.
Cuba Cane Sugar Lima I <k-o,
t'ru?-ible Steel Iioone Oil
Calif. Packing l.en. Anphali
In the Current Ifsu?
MARKET OPIMOS
Gratis on request for B-3i
R.H.MACMASTERS&CO.
Members Consolidated Stock Exeh., .V. Y.
69 Wall St. New York
Hanover 9536 Ground Floor
?iiiii.'iiiiimiijfi.'iiiiiiiniiiiiliiiill.'rl
Ttra
MARINE
TRUST COMPANY
BUFFALO. NX
IVENTIETH YEAR OF SERVICE
CAPITAL ANO SUMPUM
SEVENTEEN MILLION DOLLARS
ttn.pmm?aGaB.B
For Cash
Hundred share lots and odd loti
On Partial Payment Plai
Hundred share lots and odd lots
?minimum 5 shares,
approved stocki
On Margin
Hundred share lots and odd loti
?minimum 10 shares,
acceptable stocks.
John Muir & O*
Uemhtrs New York Stock Exckenf
61 Broadway
New York
Features of the
Pending Railroad Legislatioi
Affecting the Valne of
Railroad Securities.
?y^E have compiled a letter on d*
pending railroad measure which
gives a digest of the prorisiao?
thereof which are of most import
ance to investors in railroad ?ecofl-*
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Copia? mau o* had PRES tspon roe**}
C. I. Hudson & Co.
Jrfember? New York Stock Seokssu?
Bi-tobliahed Sine* UM
66B'way,N.Y. Phone Rector 7*1

New-York tribune. [volume], February 18, 1920, Page 16, Image 16
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New-York tribune. [volume], February 18, 1920, Page 16, Image 16
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924