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W. F. Ladd & Co. Investment Securities New York AMERICA HONDURAS Mines Corporation Holders of this stock will find it to their advantage to communi? cate immediately with the Honduras American Syndicate 30 Broad Street New York ?vdrp.'.V I McCORMACK, Auctioneer. IlECrULAR At'CTION RALE '?.TO? KS AND ?ONOS BT AHK1AV II. Ml II.EK Sc SON. OFFICE WILl 1AM STREET, rnnNESDAY, I i:i5Kl AKY '?5, 1920, WF.DN at i: C ' clo. k. at th? BXCH \NGE SALESROOM, NOS H AND 1? A KSK Y STREET. For Account of Executors: i sjj, g ,\ side Y.-., ht Club. ;' ... . Ward Hygela 1rs Co. r,,r v : Whom i; -May ?'onoern: , \ v * Suaquehanna .v Western B R. : : "?? -i "??_?'**? B ii.Is, 1937. (1000 New Jersey Steamboat Co. 69o ?* ..,: * . 10Ci=hs. Poolc Engineering & Machino ? 100sha rbocker "Wyoming Oil * *.'. Oil Syndicate l.'ntta 14) it -7! shs, i>0 50 Manufacturing C . . FINANCIAL SALE \T PI BLIC AUCTION 3,000 Shares < upita! stock FEN W A V l!i:.\l. T Y X K L S T ('\.\ tlillR FEN? W ?' \BK HOME PLW1-N?. GROl NOS OF BOSTON RED >1>X. ON v. EDNES1 . i. '?! AUCH 3, 1920, at !!:*Q A M . al he rooms of the Boston \ v Congress ;?? .; Bcstoi will be sold by Messrs, I . ' 5 Congress Street. Boston, Mass., rs, all and slngu Dd Int? rest "f Harry :h J. Ward In and to ?.hrr* i: o I shares of the capl . >* i* Rea Itj Trust, be? tel nil the ca] i. of said Trust. StJd su!*- :? * accordance nun the ns of a i srtain note . o? said Fraseo and salrt ' * * 1916, default In li Ipal and inter- at <'? nid n *-* .. :?? Ing b< en made. PEN WAY PARK comprises three hun cred thirty thousand ? 30,000) square feet [luid n ire : less, with buildings on Jer- I ?i>* and Landsdowne streets In the City of i assess : *.:i 1 :? !9 for Four Hundred rand 1 -ollara ($415,000.00), ead o? the stock, bunds se lared by mortgage now outstanding to the ii undn d Twi nty-flve ':. .-.? ; Pivi Hundred ?ollara ($125.500). ; lid bonds mature ea? h year, ud ail l * merest at i he rate of five, eniv - . annum, payable seml-an [?maUy. Penwai Park is leased to the *.. ? in League Base Ball Club, Ifc- lease -\* Lring August 3rf 1930, at a I il tj Thousand Dollars ? said Club also covenanting t.. |p?l all valid '.'..\*-.s. water rates, lnsur 'r''-?-. caa .1 public charges o? | ? ire levied on the property*. '??'?* P?rl in i . by said Club of ail of the ?fl-temei . -, i lease is further Narantei | mortgage of all Its per*?na. ; ? ?-. irded in the olTlce of ??" ??'?'.? < n< City of Boston. T!** ?ocl bi tx Id Is now Leid by the * Co., B..-ion. Masa., in wcordanc? w th an agreement dated Jan uar-v '? ? '*"- C ipi? ) i ' Bald agreement ' - ? inst ruments r>>iatinir ed on app'ii atlon - ':*' ?' ' I W 'i il;*:<*id. TERMS OF SALB: Cash. , i For_furtt*. ** ? apply to FOWL *??. BAUER .-. K.ENNEY, Attorneys for ???pn J. Lannln, No 60 ""ongress ?tr-.-et, nostun. FINANCIAL MEETINGS ITHE MERCHANTS NATIONAL ! BANK of the CITY of NEW YORK ?J^1CE. la "EREBX GlVjt?N that a; a -h.** '*' :t? "-hareholders of The M?ar. VA?1* 1XaU't''11 Bank of u-.e City of New ?lUmmed to take ,ucn proceeding? ?. t?r',.V"er~ **'y or '-onvenient to or Mrw.. i" ?-*??-?*"?-"?- Association a? ao In Wporated bat., of che at atd of Nsw I! ih. n;i,e D? ;"'' l :' Th*** Merchant? Bank ?h.i .v., "? (,f Nfcw York; and also that "o?ri this Hank shall have been organize? Wv P"'*J""a'<"; ba"lt of -"? Stats of ii w, rl- V-'O-'i-iling? be taken to merge ? -?..u the President ?nd Lirectors of th? ?wHuttan Con pany e> order of tne Board of Directors. h?.? ? J?' K PAYNTKR, C?abl<xr. ^?t??3 New S ?rk, January 18. 19?0. JHE MERCHANTS NATIONAL BANK of the CITY of NEW YORK , Notice is iikkebv given that at * ?"???at of the ciiarrholder? of The Mer V?*,.s?'l''"a: Bank of th?, City of New ??t.1; .?'"d oU January l?, lits, it was u,,.t?at U;,J ?1<3 Bank go luto liquida in k1-,*3" c'"***-* '? an,i dissolved. *? bolder? of -ote? and other creditor? Ben? V? Bl""k'i!'. Asso'laiion are hereby eiir, to t"'"'*1"'1 ?*-**? notes and oth*. Si? *?*,i,;*"- the Association for pay *,, 3} "?? Banking House. Number 43 in ?*'"?? N'''v Yo-k City, until Kebru WW. 1920 and <'j? reafter to it* Haul ?t h 5**'nt* **'*" 'resld-nt and Director* "??i. o *nflat,lin Company, at Number 4# S Street, New V?rk city. ?f ordfr of the Board of Directors. b.,.A x ?- K- ?'AYNTER. Cashier. jutted sfw Yl)ri. j.ltluaiy 13> ij20 ^THK STOCKHOLnEItS OF GOSBELIN \.nTlri|ll)IM, ( OKI'OHATION. ?tel.i CB ,s HEREBY GIVEN that a '???.i, ';,f"1''*" '' ,h*' ?tockliotrjers of ?rr?? Trading Corporation will'be held ,,, ,, ?tllce o? the corporation, at Room Uli ? ?rh R,v" Borough of Manhattan. ?'?i-v iHLc*'y- on the -Ji'tl> **y of feb ?rtm'?? .?' 8l t?n o'clock A. M.. for tho "?rim0 a*Jt,t**lr'R a resolution changing ig 't*,0' tLo corporation from "Gosse >>u?ri?i oln'' Corporation" to "E. L. ri.? *? CorPor?tlon." *-*-te<5. February H, 1520. L. L. QUARLES. President. THEODORE ON KEN, ??^_ _ Kei?retary. ?Htfifl.^*1'AL M E RTI NO OP STOCK? R?th Yn, ?f fh0 Ks'ate of Magdalena "?"-h oth ?lection of Directors and for "?tor? m!1, tjUalll'-s*' as may properly come '?Ice ?> .v*'-'**' -*!,f- wnl o* hp,<1 ?t tllf' "???t nn U"L Company, 451 East 84th ?-??February 24, 1920, at 8 o-clock LAWRENCE E. NAUMANN, Secretary. S** to Wear Union Badge* iC?110-1-^ Feb* 20,-About 1,100 ? ?otn ";er?. joindra and pipe fitters ?t "id Sh*nl8 ?f the Ba-timore Drydocks itrllie t,Pjil<*-t,S Company went on '?lu?/! v? ?Ly in protest to an order Us??by President Holden A. Evans '?Matate' "Itiiring labor union rep **??0nt?? 8 known as shop stewards to ?t)tt4jf ? , ? the practise of wearing -fay ittS*badgM while in th* com' I The Day's Bond Market U. S. Government ^^^^^^ Transactions Liberty 3%?, 1947..? * ** do 1st 4s. 1947.... do 2d 4s, 1942. do 1st 4%s, 1947... do 3d 4%s, 1928_ do 4th 4%?, 1938... do 4th 4%s, 1938... Victory 4%s, 1923.. do 3%?, 1923... Liberty 3%s, .. do 1st 4s. do 2d 4s. do 1st 4%?.. , do 2d 4%a... do 3d 4%s... do Uh 4%s., Victory 4%s do 3\s . 97. Quotations Bid and Asked Quotations Liberty bonds. 3%a. 1947 1st 4s, 1947.. 2d 4s. 1942. . let 4%*. 1947 2d 4%s. 1942 Id 4%s, 1928 Closing ?Yesterday. Closing Thursday. 96.60? 96.70 96.56? 96.60 90.34? 90.4?) 91.20? 91.40 90.70(jp 90.71 90.60? 90.66 _93.04? 93.08 .-..__ 4th 4'is, 1938. 90.96? 90.98 90.80? 90.8 Vic 4%s. 1923. 97.70? 97.74 97.70? 97.76 do 3%s, 1983 97.70? 97.76 '" " Pre-war issues: 2s reg, '30..l00%?101 90.30? 90.40 90.10? 90.20 90.90? 91.00 90.60? 90.64 92.90? 92.92 97.66? 97.70 100%? 101 2s coup. "30 8s reg, *4b. 3s coup 4s reg, 4s coup 2* Pan, 2s Pan, 2s Pan,_ 2s Pan, r, '38. . 3s Pan, r??g. . .. 3* Pan. coup.. . Phil 4s. '34_ do 4s, '35.... do 4s, '36. 90 D. <3ol 3s Foreign Govt. and Municipal Bonds (Interest To De Added) Pld. Anglo-French Extern 5s, 1920.. 96% Argentine Intern fis, 1945. 72% Canada. Dorn of, Notes. 1921.. 96% do 5s. 1921. 96% do 1936 . 93 do 192H . 93% do 1931 . 91% Chinei-e Gov Hu Kuk Ry 5s, 1931 43% Cuba Extern ;.s, 1944. 92% do Extern 5s, scries A, 1949. 80% do Extern 4%s, 1949. 73 Dominican Rep fis, 195S. 79 City ot Lvons 15-yr (?s, 1934.. 90% City of Marseilles 15-yr 6s. 1934 90% City of B-rdeaux 15-yr 6s. 1934. 90% City of Paris 6?. 1921. 90% Jap Gov 4%s, string In. 1925. 72 do 4%s, 2d series, 1925. 72% do 4s. string In, 1931. 59% City of Tokio 5s, 1952. 55% U K G B & 1 5-yr 5%s. 1921.. 94 do 3-yr 5%s, 1922. 92% do 10-yr 5%s, 1929. 90% do 20-yr 5%s, 1937. 86% Mex Extern strl 5s of '99, 1945 30 do ton: Is of '04, 1954. ? (Sales) Asked. !<6% 73 96% 97f's 93% 94 91% 45 94 90% 75 80 90% 90 % 90% 91 % 74 7 + 00 57% 94% 94% 91 % 86% 33 Anglo French 5s 3 000 . 35,000. 13.000. 6,000. 40,000. ?1?: Jap 1st ser 4%s 00. 155. ,. 95% 95% .. 95% .. 95% _, .. ? 86.000. 96% 20 0. 96% 10,000. 96% 6,000. 96ft 50,000. 90% 100,000. 96% 18,000. 96% 10.000. 96$ 88.000. 96% 33,000. 96 8,0 0. 95% 101,000. 96% 11.000. 86,000. 38,000. 2,000. Chin???e Ry 4,000. City of Bordeaux 9,000. 90% City of Copenhagen 6%e 1.000. 80 5,000. 79% City of Lyons 6s 3,000. 90% ?, 2.00". 90% City of Marselll?? lis 19.000. 90% City of Taris 63 1,000. 90% 1.000. 91 City of Tokio 5s 1.000. . 55 74 74% 4,000. 25,000. 13,000. 10,000. 100.000. do 2d ser 4%s 7,000. 10,000. In,OOO. 43,000. 5,000. 5,000. 13,000. 73% 73% l,<?0i? 2,000 ?6% 96% 96% 43 73 _ _ 7;.'1-'. do stlg loan 4s 20,000. 08% i nu Dom Canada notes 1929 ?21 0 *-8 93% 93% 97% Jap 1 5s 1926 3,000. ... ? 5s 1031 3,000 25,010! !!!".! 1st ser 4%s 17,000. 1,000. . 3,000. 2,.1. 5,000. 4,000. 2.00 I. 10,000. 73 5.000 !? 000 3k,000 91% 91% 74 5,000. 59 3,000. 60 0,000. 59W 1.000. 60 2.000. 59 7Z 90.000. 69% 2,000. 59% 8.000....;; 59^ U K of Great Britain & I 5%s 1921 1,000. 94% 20.000. 95 5.000. 94% 1.00k.. .. 941Z 1G.OO0. 94% fi.000. 94% 25,000. 95 ,",,000. 94% 1,000... ... 94% 23,ooo. 04% .' I 00. 94 do 5%e 1922 13,000. 92 I.' too_ 1,00k_ do 5%s 1929 28,000_ 5,000.'... 29.000 1.000..'.' 5.000_ do 5%s 1937 10,000_ 1,000. .. . 3,000. .. . 4.ko.?. S7'? 9.000. K7-1 ll.ooK.. ?37 51,000, ...M 86% 1.000_ g7 14.000. 80% N Y City 4%s 19r?7 [ May 1.000. 9G 93% 91 91% 91 ' 2 91 91% S7 86% 87% Railway, Other Corporations Am ?S.-nelting 5s ?I,001). Am T & T cvt 6s 1,000... . or,7< 11,000. 97 ! 4.000. 97%; do col 5s 1,000. 81 J 17.000. 81%;Ches do col 4s 11.000. 78% Armour Co 4%s 6,000. S3 3.000. S3% 2,000. 83 5,000. 83% A T & S F gen 4s 10.(ton 771.' 'Cen Ga con 5s 82 ; 3,000. 84 83 Cen Ohio 4%s 83% 1,000. K5 Cen Pacific trtd 4s 6,000. 71% 4,000. 71% 5,000. 72 3.000. 72Vi 5."00. 72 & O con 5s , 3,000. 90% do cvt 5s 10,000. 7914 5,000. 80' 1,000. 79?% 5,000. Hioig 10,000. 80% l.Onn. 77% 10,000. 7?? l.O^K. 78u 4.000. 78% do adj 4s 1.000. 70 do adj 4s 6tamp??d 3.000. 68 3,000. 69% 1,000. 69 Atl & C A L Bs 1.000. 88 Atl C L 1st con 4s 2,000. 76 do 1. & N 4s 1,000. 67% Baldwin Loco 5s 1.000. 97 Bait & Ohio tem 6s 10.000. 84 % 5.000. Sia-j 4,000_ do gen 4%s ,000_ SO do cvt 1,000 10.000. do rfvr 10.000 22 000 17,000 IS S4% 84% 63% 63 3.000. H3' 2,000. 737,-. 5,000. 74 3,000. 74% 3.000. 75 ' 8,000. 74% C & Alton 3%s 10.000. 32% 1.000.31%* 8,000. 32% 2.000. 33 C B & Q gen 4s 10,000.77% do joint 4s 14.000. 94% 4.000. 94% 1.000. 94% 12,000. 94 12.000. 94% 17.000. 94% 15.000. 94% 5,000. 04% 25,000. 94% 9.000. 94 % 4,000. 94% *|0 ? E 111 rfg U 4,000. 24 do 4000.(?"tri' C Great Wwtern -Is 5000. 63-1 "W". 641 cvt 4%V 8i J.000. 55. 1,000. 63 26,000. 64 1 000. 64% do trotil 4.4 JO.OOO. 63% 10,000. 64 5.000. ..... 63% 1,000. 63% 2.000. 64% 20.000. 64 do p I 31 is 11.000. 83 18.000. 82% 1.000. 82% 10 O00. 83 do Pitts L K & W Va 4s 6.000. 54% 22.000 . . . . 55 ' 13 000. .' . '.' .' 55U 1.000. ??G '" do T <* C Is 1.000. 49% Beth Sle?l rfg 5s 1,000. 8? do p rn 5s 1.000. ..... 83a<, :?.o??o .000 Brookivn TJ Kiev 5s 8.0O0. 64 Bush T???Tn con 6-* SOftO. 74 1000. 75 Calif Gas A B 6s 1.000. 85% 10.000. .?-.... 56% |C M & St P cvt 5s I ser B 6.000. 7t 1,000. 72 ' do cvt 4%s 2.000. 70% I 25,000. 70% 4,000. 70% I do gen 4%s 3,000. 78 do rfg 4 Vi? 27.000. r>9 I 10.000. 59% 7,000. 59 1.000. 59% ! do 4s 1925 2.000. 75 do gen 4s ser A 1.000. 68 do deb 4s 1934 2 000. 60 2.000. 62% C & N W gen 5s 4.000. 96% do Ken 4? m 1.000. 77 88? Chicago Ry 5s 83% j 3,000. 67% C R I & P ?en 4? 1.000. 71% do rfg 4s 11,000. 64 4,000. 64% 2 000.. 64% 18.?00. 64 0 llJ? P ***{**? i0? * Cnl 1st 6a 25,%)0 I 10.01)0 64 % 1.0?U.93 04 %|Ore Ry <* Nav 4* 12.000...... <uy" V>00...... 64% Oro Short Une 6? 1,000. C & West Ind 4s 1.000..,.., f,8 1,000_ Chile Copper- 7? S-%1 do 6s 1.000. ?5% 89% !?,000.91% do 4a 1 />00. 81% WOO.-104 ?Ore W H It & N 4* jk>6.000.lob : 4,000. 67% *>?? 18,000. 08 MOO. 79 ?Pacific Q & E r>s -0,000. 70%! 1(1,000. 78% i">.000. 79%'Pacific T & T 5a 60.000.?o ? 4,000. 85 10.000. 80% Penn 4%a 1921 80,000._. 80%1 l.ooo. 96 Con Coal of Md' 5s 2,000... * 7K C C C & St L gon 5s , V000-*---- 84 do -is Cairo dlv _ . r.,000. :_ 7iu Col ? So 4UR '* 5,000. '.".... 71? Colum CAE r>s J^^^^^^^_ r lOOO. 82 Peorin'.v ? inc 4s Comp-Tnb-R fa I 26 000 25 9? r l.n00. 83 i l!oOo!!!..i 26 on Xa?. ,ert> 7s 1,000. 27 do Is 1068 1,000. 80 1 000. 80% 2,000. 89% do neu ?! %a 12(000. 80% 15,000. 80% 5,000. 8(i 5,000. 80'4 * ?? IV.000. fig? :i,oot>., 3.000.loo Pero Marquette 5? 25% % 25,000 16.000.mo _ , 5,000.loovi Del & H cvt 5s 1.000. 82 ?en & R G con 4s * 20.000_ (12 2,000. 62^ 5.00(1. 62i| do rf.-r 5s 5.000_ -U 5.000. 4iv; 5.000. 4ni.? Erie 1st eon 7s 2.000. 07 do prior lien -is . 2.00(1. 5,1,14 <lo uen lien 4s 10.000. 4"*y> 0,000_ 42 1.000_ ' 4r,,? 3,000. .p.**.', 1.000... '43 7.000.; 4:?i.; 4.00(1. . 43 a 2.000. ,; ?? u, 3.000..' 439/ do ovt. 4s scr P, * 3.000. 37^ do cvt Jr. ser D 11,000. 39 Erie X: 'orsey 63 inooo.... 00 Cla Ea.it C 4%s l.ooo...... 70% Great Northern 4'is 5.000.? 82 Hock Valley 4'i.s ? , 7.OO0.*. 69 Hud & M rfg 5s 1.000. 551^ do inc 5s 1,000. 14% 10,000. 14% 2,000. 14% 111 Central rffr -Is 1,000. 70 16,000. 71 25.000. 71% 80 85% 86 2,000. 5,Oi)o. O.OO?l_ do 4s 5,000. 67% Phila Co 5s 1922 2,000. 87% Pub Ser of N J 5s 10,000.62 Reading rcu 4a 11,000. 70% 5,000. 7'J% do C N J 4s 5,(100. SO Rio G W 1st 4s 2,00o. Gl R I Ark & L 4'-.s 5,000., 61V. 15,000. 59% 5,000. 01% St L Ir Mt & S 4s 10.000.73 St L & S F 6s soi- C 2,000. S6 do--I s ?.er A 6,000. 57 1.000. ,-,?*,% 25,000. 58 1,000. 57% 20,0110. 57% 13.000. 58 2,000. 58% 2,000. 58% do 5s ser R ?1,0(10. 12,000. . 10.000, . do ndj 6s 6.000. . 68% 69 22,000. 2,000. 10,000. 1,000 1,000 1,000. do inc 0s Indiana .Steel 5s 4,000. 90% 2,000. 90% Interboro-Met 4%s 24.000. 18% 5,'.i00. 3 8% 1,000. 18% 10,000. is Interboni R T rig 5s 17,000. 53% 65,000. !5,000. 11, c,o. L.OOO. 53 l.OUO. 63% Int Mer Marine 6s 1,000. 88% lona Central 4s 5."00. 41 2.000.'. 40% 2,000. 41% 2,1 00,. . 42 I 000. 41% Kan City Terminal 4s~ 62% 62 62% 62% 62% 62% 62% 62% 62% ae 46% 1?-, ?16 ' ^ 46% 46% ?16 45% 46% 46 46% 47 47% 4S 47% 47% 48 5,000. 5,000... '. '. ', 81,000 13,000.'. 16,000. 3,000. 7 1.000. .. 25 000 10.000.'. St L Svvn 1st In 5,000. 63 do eon Is .; 7 '.:, 47% 48 48% 48 48% 46% . 71? 4,000. 71% do Terminal 6s 2,000. 71% 5.O00.. . 57% Kansas City So 5s " St P M &-. M con 4-* " 2,000. C?i% 1.000. 83% do 3s Seaboard Air Line 4s 1,000. 1,000. Kings Co El 4s 55% "'IV, 7,000. 50 2,000. 50% Lack Steel 5s 1923 10,'MO. ...... 93% do 5s 1050 2,000. 88% 8,000. 89% L E & West 1st 5* 10.'100. XI% Lake Shore Is 1931 5,000. 81%! Leilgh V**!ley 6a im* 00 .1? ? tarn ?>em_ 1,000. 58 1 000. .... 59 3,000. 58% 1.00-O., 58 ? 8.000. :,-, . -V--00. 50% do rig 4 s 1,000. 46% 11,000... 47 1,000.. 47% , -*"*V".'. 16% do :id.i 5s 2,000. 30% 10 G - . 5.000. 39 2", "fifi... ;*gi,?, ? .]<" ?.nun i3, "oa Lorill?ird Co 5s 1.000. 87% L & N unified 4s 13,000. 81 do SI t ouis 6s % So Pfl-ific cvt 5s '.Ci il do rvt. 4 1.00( 5.O0C do rf l",1 .102 .101% la 00 do So i?y joint 4s til? do col 4s 1.000. . . 1.000.. South, rn Ry fis ??8% rs% ?5% 68 68% Midvaie Steel 5f. _ 3.000. 84 1.0C Minn * St L 4s 2,000. 7,000. 4 2 do 4 s 2,.I. 4:'% 55,000. 1.000. 43 1,000. M K & T 1st 4s 2.000. 6.000. 58 11,000. do rfg ts do r.? Memphis div 10.000. 37 l"r"". 82% do 2d 4s Tenn Cnnper 6s 2,000. 31% 2.? 00.96 10.000. 31% Texas Co cvt 6s 3 000.?2 1,000.100% Mo Pacifie gen 4s Third Av rfg 4a 47% S3 58% 58 58% s non 4.UU0. 57% 1,000 ..... 47 11,000. 56%I do ad' r>s 1.000. 56% 3.000. 28% 29.000. 56% L000. 28% do 5s 1965 Union Pnclfle 6s 2.000. 81 $ Monter?a Power 6s 2/100. 84 2,000. 83% Morri* <-i Essex 3%s 5.O00. 70 National Tube 5s 6,000. 90* N Or? ?* Mex 5s 4.000. 54% 1.000. 55 N Y Central deb 6s 2,000 4,000 5.000. 02 6 000. 02' 1,000. !12 25,000. 02! 11,000. 92% do i-f K 4 %s 1.000.77%i do 4b 1934 2 00O.. . 5,000. . , 1.000... do rfg 3%s 10.000. .. 2,0(10. .. 2,000... N Y C & St L deb 4s 2.000. 67 N Y Dock Co 4 s 1.000_? 62 N Y G K L H & P 6? 1 ("00. 81% N Y N H & H 6s 5.000. 72% N Y O & W 1st 4s 4,000. 61 N Y Rys adj 5s 3.000. 6 N Y Tel deb 6s 1 on,..-joi?^ 3,000.101% 11.000.101% 2,000.101-/. do 1st. 4s O.ooo. S2 do cvt 4s 1,000. 85 5.000. 85% do rf? 4s 2 000. 74 Un R ' ?.r S F 4s 91% c^' <:t" dePos't _looo U S Realty l! 000 loioon] '. 6.000. , 1.000. . 1.000. . I 5s !4 76 76% 76 % 76% 70 r. 000. 75% . 76 74% 75%' 000 10.000_ U S Rubber 7s ^^ 1.000.103 do 6s cr.v 1.000. 84% BE-2 15 000. 84% 60%: 5.000. KM?5 "*' 12 000. 85 2.000. 85% 5.000. 85% U S Steel s f 5a 5 000. 07 4.000. 97% 3.000. 97% 9.000. . . .97 6 0O0. 97% 1.000. 97 1.000. 07% 10.000. 06 V, 5,000. 97% 1.000. 07% -? . 5*!, 1.000.06 5'p o'. -> Utah Power & L r,s . r.'0110.'* 1 0011. 81 'in?n 7n Va-Cnr Chemical r.s j.O'ki. ?y j? noo r<-, i-000. 79^ Vlrgini-n Rjr'sV N Y W & Bn 4%s 2,000. 39 4.000. 42 3.000. 8*> 3 000. 82% 2 OOO. S3 5.000. 41% Wabanh 1st Norfolk 4 W cvt 6s 1 000. 87% 20.000.100%,West EWrrie 5s 20.000.100% 1 000. 98 35,000.100% Wpst Wirvland 4s 5.000.100% " OftO 51 % 11,000.101 J0 0O0. 51% 5 000.100%. " (1A0 51 v; 5.O00.101 ' 19 00,1. RtU i 25 000. 51% 76% 1". 000. 52 West Pn-iflc 5s do con 4s . 2.00O.J., . t.oon. 5,0,00. Nor Pacific 4s ?2.00O. 1,000. 20.000 _ 1?00. do 3s 2,?X10. 3.DD0. T5V4 9 000. 81 1 000. 81% 74 Wilson To 1st 6s 74 V. 3 010. 9fi% 7f. "1 6.000. 96% 76 %i do rvt- fis 3.00(1. 02 54% ? 1.000. 91% 53%; 2.000. 91% New York Trust Company ha? been ap? pointed registrar of the preferred, common Class A snft common stocks of the Nstv York Harbor Dry Dock Corporation. Investment Information Questions 0/ ?tncrat interest (o inveetora will be answered in Ihit column, in which cage only initial? will be used. Other? will be an ?wared by mail. Addreee all in S ni?ea, tvcloeing o* stamped, ad resaca envelope to Financial Editor. The Tribune, IStt Nassau Stre-it, A/ew York City, Ryan Petroleum Question?Will you kindly ndviso rnc through the financial column the history of Ryan Petroleum on the Curb, the board of .directors and output of 1919??-G. H. S. Answer?Ryan Petroleum Company was incorporntcd April, 1019, in Maine. 1 The. company's holdings in tho Ranger ; district aggregate about 26,000 acres, Tito capital outstanding is $3,000,000. par $1. There is no record of total production for 1010. At present the ?company is said to be producing about ,2,000 barrels a day. The company built ?a pipe line across Red River, in Okla j homa, to Temple, on the Rock Island Railroad, which lino was purchased by ?tho Prairie Oil and Gas Company, and j with the purchase it entered into a con | tract with the Ryan company for the. ; output on this property. A. D. Morton : is president and Alan A. Ryan chair ; man of the board. Haytian American ? Amalgamated Leather Question -Will you kindly let mo know in your paper about this stock? 1 invested ,-i few thousand dollars in the following: Haytian American Corporation 2 to ,'? year 7 per cenl gold notes, ?hi?. July, 1924; Amalgamated Leather Company Incorpo rated, ii Delaware corporation, 7 per oe-it : preferred. My banker told me I got a k< ? I invo-.tment and sale. What do j ou V ; about it 7?P. S. Answer?The earnings of the Hay : tian American Corporation arc report 1 ed to be more than three times the ? interest on the 7 per cent notes. They are entitled to a good investment rat ' ing at present. The Amalgamated Leather Company's preferred stock shows a large margin of earnings over dividend requirements. The company is a combination of several old com? panies whose products have an estab? lished reputation. Tho stock is en? titled to a good rating. You must bear in mind, however, that conditions may change and that you should keep in touch with affairs at all times and carefully watch your investments. Hydraulic Steel Question?Recently I bought some shares of Hydraulic Steel preferred at $100 u share, with the information that a con? vertible fraMire provides an option on the common stock, and also the advice that I had better divide i he slock up equally be tween preferred and common. On in iuiry 1 am iold that each preferred is worth or convertible inio 2 2-9 of common. Aecord i-.ifi to The Tribune's latest quotation, the preferred sohl al 99 and the common at 35, or 30 shares of the former ore worth only 80 shares of the latter. Will you j please explain what will be the bon?>fit of converting 18 shares to 40 common oa a better and safer investment??A. G. A. Answer?So long as it is not profit? able to convert your preferred shares of Hydraulic Steel Company into the ?common shares, there is no necessity of doing ^o, for the convertible priv? ilege, as a matter of fact, is only in effect between April 1, 1020, and April 1. 1921, at the ratio of 2 2-9 shares of common for one of preferred. After that time the ratio is two common for one preferred. ? United Alloy Steel Question Have you any late figures rela? tive to the earnings of United .Alloy Steel Company? Also, do you consider this stock la sound business investment??A. F,. B. Answer?United Alloy Steel makes ??public its earnings but once a year. For 1018 it earned $3.02 a share on its 525.000 shares capital, against $8.54 in 11)17. Unoliicial reports state, that the ' company is operating at considerably over 75 per cent of capacity and that for the first half of last year earnings were at the rate of $<> a year on the : stock. The margin of earnings over dividends is not sufficient to give the stock a good investment rating. Lone Star (?as Question?Will you kindly tell me some thitiK about the Lone ?Star Cas Company ?>f TexasV 1 have two hundred shares of this, which has greatly depreciated in the liqui dating tnark-.t. Is the company on a sound financial basis? The slock is traded in on the Pittsburgh Exchange and pays 8 per cent yearly. 1 bought 30 shares of the old 'stock at $20o a share, then subscribed to more at par; this made 50 shares; then , the par valise wa.i reduced to $2.?. and I received 200 shares for the 50 shares of old ?stock, which is now selling for about $.10 a sh.-ir?'. My originul investment has there? fore depreciated ?3,S00. - H. F. S. Answer?The Lone Star Gas Com? pany appears tn be a well managed concern. The stock sold at- high figures during the boom in Texas a few months ago. Considerable disappoint? ment was encountered over the re? sults, with the consequence that the stocks have sold down considerably. The company is sound enough, but the stock is probably selling nearer its real value now than when it partici? pated in the boom of a few months ago. _ Willys Overland and Others Question?Aa a constant, reader of your paper, also your investment column, I would kreativ appreciate vour p.dvice on tho following matter: I bold 100 shares of Willys Overland outright, also 50 shares of Tennessee Copper and Chemical outright. The above I bought at 36 and 16% re? spectively. I alio have 50 shares of Ohio Cities (?as, which I bought at 53% and for which 1 still owe $400. I have been watch? ing these slocks decline, hoping they would come hack, but things seem t?i become worse. I would appreciate very much your advice on tho above matter. I have put. practically all my savings in the above stock?, and ' would feel it very much ff I should have to sell at such a hi? loss. Would you ad? vise my soilinst some of the above stocks, to buy Middle Suites Oil or some, other stock '. which I could even up on and ?ret out of the stock market and buy bonds instead?? IS. M'C. C. ! Answer? Owing to the speculative ; character of the stocks you mention i we cannot advise you whether to hold j or sell. We do not, however, think , much of your idea of selling some of | the shares you now hold at a big loss ! in order to buy oil stocks which would probably be equally, if not more, spec? ulative. Your suggestion to get out of the stock market entirely and buy ' good investment securities is a pro ; cedure we would indorse. French Bonds Question - In this morning's Tribune 1 j noi.ee the statement that the French 5s are I due in 1931 and the 4s in 1943 and 1944. I Is not this incorrect? According to my in ! formation these bonds do not become "duo" i ?^ we understand the term in this country, ' but the French Republic simply reserves the ! right to retire them at par on or after the ; dates specified.?W. J. M. Answer?We have stated in these I columns that the French 4 per cent and j 5 per cent aro due in 194.3 and 1931 ! respectively. As a matter of fact, the ' bonds are not duo in the sense in which ! we use the term in this country. The ' French government reserves the right to retire the issues at par on and after those dates. While many people de? sire, after purchasing these bonds, to hold the coupons in the hope that a ; more favorable exchango rate will de ; velop, it might be well to know that | unless the coupons arc cashed within ! live years after they arc due they arc ! outlawed by the government. Four full columns of in~ vestment questions and an? swers are published in The Tribune every Sunday* Commodities Cotton The market was quiet yesterday and ?oca broker? attributed the Irregular ? fluctuation t0 furtnnr evpnIng.up fof over ?th? three-day adjournment. Roth the ; New York and Now Orleans exchanges , will remain closed until next Tuesday , morning, and both markets ?eem sensi? tive to comparatively smnll orders. Lo I ?Illy May .?Id oft to 34.17o early and ! 'hen nulled to 84.49a, but eased again, , ?-loslpg at 34.34c. or 4 points net higher j Ihe general- market closed net 13 point? J Itwer to IS points higher, with March , showing a decline, ?hile later months , were 3 to 16 points above Thursday-? final t finuras. I ? Th? opening was steady at a decline of ; 1 points to an advance of IS points. There m??w?m/* '";aUf'rp*l realizing, and the n . rket found very little support until Mo?.- -tvE ,n,or,t.ha ,""1'* ? to 20 P?1"1-' be ow 1 hursduy*? llnul quotations. Prices then steadied on covering, which was Promoted by the continued setadlness of foreign exehunge and reports of a slight!-.* better spot demand in the Houth. No : ,?, bu>u^, tor long account developed. *,:,';? an,d ait5*' lowing net gains or. i i-i to 33 point? the market eased oft un j der renewed realizing. ? i?-i0W '?"p "1"nl"s were relatively steady ?during the day owing to prospects for un l ravorablo weather In the Southwest and ?v'.'./.V'"",, '.n.ys ln, n"w (rop Preparations. ?Naturally the advance of the season Is giving repn.,-? ?ort greater lm ? >rtunee, particularly a? a great shortucr of, labor u ,?- . m the South. March was rather easy In the late trading, but tnere was buying of that position by ?not 1 interests on the decline, and local traders ; ore n<)t looking for unv- large number of ? notices when the market here reopen.) ? tor business next Tuesday morning. ? The local spot market was quiet and I 20 points lower at 39o for middling. N0 sales were reported. The range of prices follows; - Thursday's Open High Low close Close Mar 36.58 36.78 30.45 36.52@30.60 36.85 *vTPr" ,777 ?T - - 34-86 :,4**** May 34.2'J 34.49 34.17 34i34@34.36 34 30 July 32.15 32.3-1 32.00 32.12@32.15 32 09 -V1?* r?: - ~ ?*,**? 31-25 Sept. 30.5o 30.65 30.55 30.85 30 50 Oct. 29.90 30.00 29.75 29,93029.04 29.77 .Nov.. ?--. _ .. - gg 53 23 in Dec. 29.30 cn.r.o 29 no 29 :ts 'fl'25 .ran.. 20.00 29,03 28.90 28.9*5 28?.82 Southern Spot Markets?Fort Worth Steady, unchanged at 4!.50c; sales, 352 bules. Galveston steady, unchanged at 41.25c; sales, 1,102 bales. New Orleans Steady, unchanged. 39.75c; sales, 1,940 bales Mobile nominal, unchanged at 38.50; sales nil. Savannah quiet, unchanged at 39.25c* sales nil. Augusta steady, unchanged at ; 38.50c; wales, i,io? bales. .Memphis steady, unchanged at 39.50c; sales, 2,000 bale's, ? St, Lotlls quiet, unchangeoi at 39c; sales nil. Houston steady, unchanged at 40e sales (60 bales. Little Hock steady, un? changed at 39c; sales 5.10 bales. Dallas i steady 15 lower at 41.85c; sales, 1,137 ? bales. Montgomery firm, unchanged at : 38.50c; sales, 34 bales. i INTO SIGHT STATEMENT I The weekend statistics of the New York I Cotton Exchange follow: __ , , , This yr Last vr Weeks Into sight. 240.397 1S7 753 Into night for season. . ..9,332,703 8,448,096 General visible supply.. .6,391,287 5,003,100 Visible supply American.4,787,287 3,787,190 I Decrease general visible.. 20,i?s 20,9so 1 Docrease visible Amertc'n 5,'.?< 15.9S0 .-"pinners tkngs. for week 254,565 182,773 t Spinners tkgs for season . 7,7.Vi.'JO 1 6,656,857 COTTON* STATISTICS Yester- Last Last day. week. year. Port retrelptH . 24,184 50,020 8,483 Exports. '.. 40,33'.) 22,047 1 Exports season.4,177.10.8 4.051,299 2,823,561 N*. V. stocka.... 51..MS 64.531 86,701 Port stocks ...1,434.939 1,412,861 1,38:1,700 Int. receipts.... 10,220 19,?26 0,813 Int. shipments. 11,330 20.506 7,531 X. V. arrivals. 2.07? -. 319 Liverpool cables?-Spot cotton ?luiet at ;16 pointu decline on the basis of 30.6 Id for middling. Sales 6.000: American, 5,000; im? ports. 17.000; American, 14,000. Futures opened quiet at 9 to 1? points advance. <'los?d barely sternly at 24 to 30 points decline. March, 27.94d; May. 2?.,'2d; Julv. 25.1!nl; October, 23.18.1; December, 22.2Sd. Manchester?Yarns quiet and firm; cloths : quieter. Cereals Wheat? The market showed only com i paratively small changes during the day i but. the undertone was heavy. Advices j from the Southwest Indicate a less active ? demand with ?fters somewhat lower and ( while the Minneapolis market was un ? changed to 3 cents higher, the demand there was paid to be slow. Th" flour de? mand was again Inactive and while thore ; were nales of 100,000 barrels of first ?clear flour reported for export, It was said , that this was the result of transportation i facilities as the buyer was unable to secure wheat on account of I he congestion in I the East und had taken flour to fill ton? nage. The trade is anxiously awaiting for ? the government report on farm reserves j an.l also for developments In connection with the new crop when the growing : season arrives. Already wheat is be? ginning to green-up, in the Southwest ac? cording to leading authorities and while : there have been numerous complaints of damage to the crop by severe weathor and fly, the full extent of the 0,image will not bo known untli the plant has a chance tu demonstrate its strength. Corn Early in (he day prices were firm an I higher with offers limited and a good ,leman.1 based on continued small receipts and reports of modifications in Western transportation facilities which would per? mit of a more liberal movement to the East. Shorts were good buyers, but after this demand had been filled, the market hesitated and late In the day broke 2 to :l cents per bushel under renewed selling. Considerable Importance was attached to shipments of about 5'a million bushels of corn from the Argentine this week, while 'outside cash markets gave signs of-weak? ness with offers more liberal. Yesterday's Previous Year New York: close close sgo Corn. No 2 yellow. $1.65% $1.66 $1.62% Chicago: March . 1^39 I 4 1 1.30% May . 1.32% 1.34 1.23% OutB?After displaying early firmness prices broke sharply and at the close of Ihe .lay showed ?oases of 1 ** to l%c. There was an absence of new export demand and a good deal of comment was heard of late over the fact that clearances are not keeping up with thu reports of export op? erations. Yesterday's Previous Year New York: close close ago No. 2 white..$1.02 (a 1.02% $1.02 $0.59 Chicago: May.7S% .80% .69% July.71% -73 - Bye?Market weak. Yesterday's Previous Year New York: close close ago No. 3 West.$1.75 $1.75% $1.48 Flour and Meal?Quotations were: Yesterday's Previous Year New York: close close ago M. pat$13.15 $13.12 $10.80 C'meal 3.7603.80 3.76@3.80 3.4003.65 Rye fl. 8.25@8.85 8.2508.85 8.05@S.fe [Bran... 50.00 49.50060.00 46 00 Cottonseed Oil The market, was active yesterday snd prices were lower, cloelng with net de? clines of 9 to 24 points. There was heavy selling credited to the West and South, and, aside from covering, there appeared to be a general absence of support. At the low of the day pries were at new low levels for the movement and confidence appear-d to bo lacking owing to weakness In other commodities. Total sales for the day were 30.500 barrels. The range of prices follows: Thursday s Open High Low Close Close 3tl0t _!__ .__ - 19.00019.89 - P^k .-_-1?.50019.86 18.50 Mar' 10.90 19.90 19.?5 19.64@19.65 19.88 Apr 074 19.77 10.74 16.75019.79 19.90 Mav 20 05 20.20 19.09 20.00(5*20.01 20.00 7 n? tl_! __--20.000 20.25 20.1" lu" 20 46 20.48 20.18 20.17020.10 20.39 Aug 20 60 20.68 20.60 20.20020.40 20.36 Sept'.. 20.35 20.85 20.13 20.10@20.15 19.05 Sugcr and Coffee Current Year prices ago Sugar, granulated, per.lb. .. -15?"? ?? ' Coffee. Rio No. 7. per lb. . . . - - M -? l&?i Coffee, Santos No. 4. P*r lb..24024% ~ Sugar?the market for raw sugar was Luiet with offerings of afloat and prompt Xpmen^Cuba? ?? B%c cost and freight, unsold at the close of the day. Porto Ricos were freely offered at 10c o. i..1. and urobablv obtainable at a lower flg ; u re on -i b Ul There wer- reported sales in Cuba of 43.000 bags May loading at . L.i,., ranelng from S.li'a to ?.o.^c. f. o? b. Cifbaf the price depending upon ! the port of loading. The market for sugar futures opened 15 L -?B points lower and closed 10 points ' e.t hlVher to 10 points net lower. Rumors that ao room WM available tb store aup lu?. rt ?near here have been circulating Pnth, market recently, but were denied by ?noSoltho Exchange, who said thithe New York Dock ?*ompany would ' guarantee' sufficient room to take care of It least 100,000 tons during the next two monthB. Coffee Future??The market opened un? charged to a decline of 4 points under scattered realizing for over the holidays. i later in Ihe morning values sagged fur-; Ther mid-day ?nding March selling ?t 14 40c May at 14.74c, July at 14.95c, and; fiintember at M-85c. or 14 to 18 points; net lower Tho disposition to take i 1 n?oflts on long contract? may have been i Pncreased by the easier ruling of Santos rotores but ordinarily this would have heen overshadowed by the strerrgth of the Rio market and the early decline here mav have reflected an easier technical nn*itlon after recent advance?. Shortly ?fter the noon hour, there was an upward reaction of 5 to 10 points, due to an ailvanco of 75 to 226 reis In the Sanfoi futures market, as reporte?l by special i cable. ! Tho lat? market turrred easier and nt j th close prices wero 22 to 26 point? net ? lower under further week-end liquidation, irirtn offers from Brazil wero in very ?cant I supply and bids sent down were un- i answered. The local spot market was, steady, at l?%o for Rio 7?. The range of prices follows: Thursday's Open. High. Low. Close. close. . Feb.-1- 14.14 @ 14.16 14.89 Mnroh... 14.60 14.61 14.30 14.29?19.31 14.54 May. 14.86 14.87 14.65 H.06@14.68 14.88 June.-14.771*14.79 15.00 July. 16.10 16.12 14.89 J4.88 4J5 14.90 18.13 | Autrunt..-- 14.S3@14.85 15.03 ; Nov'bor..-14.73? 14.75 14.98 Dec'ber.. 14.96 14.96 14.90 14.71 ?3114.76 14.96 January.-i4.6Uryii4.68 14-91 Butter, Ch?ese and Egara ISutter?Receipts were 3.060 packages. Creamery, higher than extras. Ib., ?38 (ut 68!-jc: extras, 92 score, 67*ac; firsts, 90 to 91 ?core, 63?66'.tjc; firsts. 84 to 89 score, 691/-62c. ; second??, 54? 58?:; lower grades, 60@63c; held, higher than extras, 62*.-4 ?iip 6.1?:. extras, Hr<it>62c; firsts. 65?60c: ace on?ls, 48?54c; unsiilted, higher than ex? tras, 7l?72c; extras, 6X??70c; firsts, 62trV 661:, seconds, 650 60c; State dairy tubs, fin? st, 64 ?0165o; good to prime. 68?63c? common to fair, 4fi@57o; renovated, ex? tra.?, 64 ? 66c; firsts, 52 ? 68c; imitation creamery, firsts, 46? 47c; ladles, current make, firsts, 43?44c; seconds, 40Vfc?41c; lower grades, 39 0)40?-; packing stock, cur? rent, make, No. 1, 40c; No. 2, 3flc; lower grades, 36? Sac. Cheese?Receipts were 2,164 boxes. R'ate, wholo milk, held fiats, Specials. 29V4@81c; av< rage run, 26?29c; lower grades, la? 27? : Twins, held, specials, colored or white, 29 r 30c; average run, 28?3128 ?,<?; lower ?railes, 18 ??j527c: Wisconsin, whole milk. Twins, 27029'^c; Single Daisies, held, 30 031fto; Double Daisies, held, 2S14 0310; Young Americas, S2@33c; State skims, fresh, specials, 16018c; prime to choice, 13'?/ 15c; fair to good, 10? 12c; lower ?rades, 4? 9c. Egg??Receipts were 12,374 cases. Fresh gathered, extraa. dozen, 71?72c; extra firsts, 69 it 70c; firsts. 67068c; seconds and poorer, 64@S6c; refrigerator, firsts, charges paid, 66067c; seconds. 48064c; under gra'ies, 20046c; state, Pennsylvania and nearby Western, hennery whites, extras. 74i?75c; firsts to extra firsts, 71?73c; gathered whites, firsts to extra firsts. 71 @ 73c; Western whites, under grades, 68? 70??.- pullets, 67?68c; Pacific Coast, white?, express, extra firsts to extra.?, 72?74o; firsts, 69?71c; pullets, Petaluma, 67068c; other Western and Southern, gathere?! whites, 68071c; state, Pennsylvania and nearby, hennery browns, extras, 73; gath ered brown and mixed colors, extras, 71? 72c; firsts to extra firsts, 68?70c. Livestock, Meats, Provisions ?^Yesterday. Year ago. Live steers, fair t.) prime. 100 lbs.$12.00013.00 $13.60@18.00 Dressed beet sides, lb. .16? .20 .20? .2( Live veals, com mon to prime, 100 lbs. 19.00?25.00 16.00021.0C Dressed veal city, lb.28? .36 .24? .31 Live owes, 100 lbs. 8.00@12.00 9.00?11.0( Dressed mutton, city, lb.20? .21 .16? .2: Dressed lambs, city, lb.?4? .39 .23? ."' Hogs, 100 lbs.... 15.00@16.25 17.00@1S.2: Llva Iambs, fair to prime, 100 lbs. 20.00022.00 17.75@18.5l D 1 e s s e ?1 hogs. l>.-i.con. lb.2~2?V, ?.23tt .23%?.24> VUss beef. bbl. . . 10.00?19.00 35.00?36.0l Ai? s pork, bbl.. 42.00?43.00 49.00049.5 Lard. Mid. West, 100 lbs.20.70020.80 25.90026.0' -( Jap?an?ese Bonds Heavily Sold by I oreign Holden * Foreign selling of bonds, yesterda; strengthened tho European.exchanges Large blocks of Japanese sterlinj bonds came into tho market "seile 30.'' Sales also were made of Anglo French bonds and of Southern Rail road, the Rock Island, Arkansas i Louisiana, Denver ?6 Rio Grande right and of several other American railroa securities. The selling of the Jap an ese bonds was the heaviest. Foreig selling has been heavy, particular! since the break in the exchange earlier in the month. ? WIM ??MaiMBiSS^1 Curb Market Continued from preceding page Sales. Open. Hizh. Low. Last. 1700Tex-Ran P A R 1% 1% 1'-4 1'4 10200 ?Texon O A L. 1. 1% 1 1% 1 BOO ?Tropical OIL. 10 1!>% 18 18% 2300 ?Un Texas Pet. 1 ft 1ft J ?* 1 900 ?Victoria Oil.. 1% 1% 1% 1 % 2500 ?Vulcan Oil ... g 8% 8 8% 600 ?Whelan Oil . . ? 1 I 1 1500 ?Wh Kag OAR. 21 22 2) 2.' 2500 ?White Oil ... 29% 30 29 29% ?00 ?Woodburn Oil. 6% 6% 6% 6% Mining Sale?. Open. High. Low. La?t. 4R0O Alaska-Br CM ]| \i 4} * J 100 Amer Hond M. 3% 1% lf>? 1% 100 ?America Min. 1 1 T 1 ' 1500 ?Arizona Silver 1% 1% 5% 1% 3700 ?tAtlantn _ 2% 3 2% 2'-. 4000 ?tBelcher Diap) 16 17 16 37" 3700?tBelcherE(ap) lfi 17 16 17 2900 Big Ledge .... ft ft % ft 3600 Bon Alaska ..68 72 68 72 2000 ?tBooth . G 6 5 fi 1900tBost A Mont. 60 6? 6?*> 68 400 ButU'-New York % % % % 2400 ?tCalcdonia .. 36 37 36? 36 1600 ?Candelaria Sil % % ff % 4300 *tCashboy _ 8 8 7% 7 V. 400 ?Cons Vir Silv. 6% G*4 5% 6% 200 Cresson Cons G 1% 2 37/s 2 1600 ?De Beer Cou M 41% 41-li 41 41 700 Dolores Ksper. 2% 2% 2% 2% 7200 ?Divide Exten. j? H ** % 6000 KI Salvador Sil 3 3% 2% 3% 28?o ?Eureka Cr M. 1% 1% 1% 1% 5000 ?tEureka Holly '? M H if 900 ?Forty-nine M. 1% 1% 1 1% 3200 ?tGold Zone D 29 30 29 30 60O ?Golden Gate.. 1 1% 1 1 Vi 2500 ?tGoklfield Cons 12 13 13 13 4600 ?tOoldfield Dev X3 13% 13 13 4000 ?fGoldneid Mer 3% 4 3% 4' 2300 ?tGreat Bend.. 2 .'! 2 3 625 Hecla Mining.. 4% 4% 4% 4 h 2000 ?Iron Blossom. % % % *' 2400*tJim Butler.. 23% 23% 23 23", 1500 -Jumbo Exten. 6 *'% 6 ?'?'? 2200 ?tKcwanas ... I 4 3% 4 2400 ?TKnox Divide. 7 S 7 7;. 1000 Louisiana Cons % % % '-. 12000 ?tMacNam Mg. % "i % 3500 ?tMarsh Mng.. 21 22 21 22 400 Mason Valley.. 2% 2*4 2% 2% 500 Motherlode C. . 5 .r> 5 250 Mur-M M Ltd. 70 70 70 743 1000 Nipieslng M Co 10% 10% 10% low 700 Ophir Sil M Co .1% 1% 1% IN 1700 Prince Con ... % % % aj 1000 tRex Cons _ 8 8 8 8 92Q0Ropr-Gr M Co. ft % ft *< 10O Seneca Copper. 15 15 35 1". 120(10 ?Silv Dollar M. % % tj * 2000 Silv Kg of Ar. ?**. U % }J 200?i "tSilv Kg Div.. 5 5 5 5 14500 ?tSilver Pick.. 15 16% 11% 16 300 Stand Silv Ld.. ft ft ft ft 1000 *+Stewart _ IS 38 18 38 at?"?. Ope-n. Iliglf. Low. Las* 26-00 *iSucceaa Mng. 6 6',? 6 r Snfto ?s-ifherld Div.. 4 5 4 >' -?;r,fi ?Tonop Belmt.. 2% 31% L'860 *Tonop Divide. 2% 21? BBOToaop Ext*n.. 2fV 2% ?f> 2360 *Tonop Divide. 2&? -f?t -'?* - W BBOToaop ExUrn.. 2/, 2-4 2>, 2% 260 *Tonop Mng .. 2% 2% 2% : k 840 Cnite?j Eastern .1"? 3? 3% ?"- ft r?00?t;uh Revenue. 1% l*i 1%, 1% 10(10 ?tU s Cont M. 9 9 ? * 2500 ?TVIct D (a p; 13 14 13 14 I'.'?-!'? * West End Con 1% HI 1% 1% 20?0 ? Wh Caps Mnjt 12 12 12 12 Bonds Sales (000 omitted?. Open. Hign. Low. L*?-t. ?20 ?Al'd Packers 6s. 80 SO 7? 7? 26 ?Am T & T 1922 96 9? 95% 9-''4 ??Relif Gv 6s 1921. S9 99 98% M 10 ?do fii 1923... 9fi'? 97 96% 97 .'i ?CCCSStL 6s '20. 88 88 88 I* l."> ?Gen Eire 6? 1940 97% 98% 97*4 9?S 10*Int Rap Tr 7s.. 65 66% 65 6*"'% 1 ?Swiss Govt 5':s. 88 88 88 ?* ?Unlisted. tSells cents p?rr share. -,m Otis Steel Company to Offer New Pr?ferr?ed ?Stock The Otis Steel Company announced y-esterday that it will shortly offer an additional amount of 7 per cent cumu? lative preferred stock, not to exceed $6,145,860. Proceeds of the issue w"! !<e used for sheet mill extensions. Ho'-t erg of the common stock will be given the privilege of subscribing on or In? fere March 16 at par and accrued di'-i ?iends at the rate of one share of pre? ferred for each eight shares of com? mon held March 1. Subscriptions will be payable in full in cash on or before March 16. The company now has outstanding $4,830,600 of preferred and on the issu? ance of the additional stock the total outstanding will be brought to %9f 976,450. Financial Items Wen hers of the Guaranty Club of New York, composed of employ?)?? of the Guar? anty Trust Company, \v 11 irive their an? nual public entertainment at the Academy of Music In Brooklyn to-night. The p-??-? pram Includes a "frolic, minstrel ?: d musicale" anil -will consist of an old-tlr.-.e ilnstrel first part an?! olio, the latter replete with individuals an?1 fam nnmbf ?. M. .'. Gormley has been appointed di? rector of tii" ?llvislon of transport?t -n or th" AmcrlcRn Petroleum institute, with headquarters In Chicago. Guaranty Trust Companj of New Tork has b<???n appointed transf.-r agent of t :i? ; stock of tiw Kanier Motor Corporation. .Irinas S!?cl has b?"?n appointed as ?? ?-.-:?? s?-cr?>tary of the Guaranty Trust Company of New Tork i 1 i Executor Trustee i Chartered 1822 The Farmers' Loan and Trust Company Nos, 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue At Forty-first Street New York London Paris Foreign Exchange ' Administrator Guardian Member Federal Reserve System and New York Clearing House UFTOWN UPTOWN OFFICES have been opened by innumerable great national manufacturers and mer? chants in the past few years*. The headquarters of many of these organizations are now in the uptown district and contiguous to our bank? ing offices on MADISON AVENUE at 45TH STREET WE have established here of? fices affording facilities and service commensurate with the steadily increasing business and in? dustrial prominence of the district. T?? EQUITABLE TRUST COMPANY OF NEW YORK BANKINQ, TRUSTS & INVESTMENTS SAFE DEPOSIT VAULTS mi