New-York tribune. [volume] (New York [N.Y.]) 1866-1924, February 25, 1920, Image 12

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New-York tribune. [volume], February 25, 1920, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 25 Feb. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-02-25/ed-1/seq-12/>

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Phone, Rector S000
Josephthal & Co.
120 Broadway, New York
Members
New York Stock Exchange I
Foreign
Government
Bonds
Private Wires to
Principal Cities
PRICHITT
X3QQ.
MBMBBK.SOP
NEW y O R. K.
STOCK. EXCHANGB
INVE$TMENT
SECUR.ITIES
SIXT Y - B R.O A DWAY
NEW YORK CITY
Now Is a Most
Favorable Time
for you to obtain 'an
interest in New Eng?
land induslrial con
cerns which are fac
ing an era of remark
'chlc prosperity.
We have prepared a
: elected List of high
grade Preferred Stocks
of several old-estab
lished New England
Industrial Corporations,
which yield
6;2 to 8%
Write today for
Selected List T. ?.-356
CHARLES WE5LEY&C0MPAN1
HolIister\White & Co
Cedai- and Church Sts.
Tek-pliones Rector 8001-2-3-4-5.
NEW VOKK
I'oston Philadelphia
'.ii'. :?'," iu'-:irlf! Proviilenco
I'iUsfleld rortlanU
?;~-~*^
vzz'.arjicux.-?.: ji
Philadelphia
Tho advance of Pennsyl- $
vania grade crudo oil to $5.05
a barrel, the highest in history,
ir. being materially reflected in
the earninga of this great cor
poration.
Thi3 Company has an un
broken dividend record of al?
most 34 years and combines
the best fealurcs of a profit
able public utility, natural gas
|i and oil business.
Circular on Request
Hirsch,Lilienthal&Co.
Members X. r Stock Erchange.
\ Gl Broadwny New York
Investment
Securities
BljODGlETT
nARTi Co.i!i?
42 BROADWAY, NEW YORK
974 Kllicoft 8fl. UH Genescc St
Kuffulo ut|oa
6$ Devonstiire St.
Boston
Direct private wires
connectlng all offices
?il^? O, duih nnd Trvlnir Kurat li?v?
<?;.;. ttfl illi..,;or? of the UltUttd fteiaii
Unfavorable Bank
Statement Causes
Break in Markel
Indfistrial Shares Drop Un
der Heavy Selling Pres
sure; Railroads Irregular.
Majority Showing Gains
The exceedingly unfavorable bank
statement publishcd after the close
of the niarkot Saturday outweighed
the passage of the railroad bill, which
was the chief constructive develop?
ment over the week end, in the minds
of speculators and as a rcsult there
was very heavy selling of a good many
of the industrial stocks and in some
of the railroad issues yesterday. The
immediate money situation was un
j changed, as demand loans wore made
! and renewed at 6 per cent, the rate
! which has prevailed for some days,
j but brokers and traders were almost
j unanimous in the oninion that tho
j prespect of any real money ease was
j exceedingly remote.
The ratio of total reserves to net
! deposit and Federal Reserve notc
I liabilitics combincd of tho local in
j stitution is now down to 37.1 per cent,
j while the consolidated statement
jshows that for the twelve banks the
ratio is only 42.7 per cent. Inasmuch
j as the legal miniimim is 35 per cent
j and commercial loans are tending lo
' expand while gold is ftowing steadily
! out of the country, it is considered
likely that the Federal Reserve
i Board will take further steps to re
i strict the use of funds for speculation,
probably by further increasing redis
; count rates. The request of the Fed?
eral Reserve Board for power to con
i trol- credit through tixing rediscount
I rates for each member institution is
: significant. Brokers believe that ex
' tension of the board's powers along
! the lines indicated would put all es
) tablished.j markets at the mercy of a
; political body and go far toward elimi
nating speculation.
A favorable development yesterday
1 was the publication of January for?
eign trade figures, which showed an
increase in exports over January, 1919,
of more than $100,000,000, while ir.i
ports set a new record. A good many
traders found these statistics so en
couraging that they bought stocks,
but their purchases sufneed only to j
arrest temporarily the downward j
movement of the industrials, for after i
a" brief interval of strength prices
weakened again and at the end were
close to the lowest level of the day. Steel,
equipment and motor shares were the
wcakest spots, United States Steel
cemmon being especially susceptible
to pressure. This issue dropped to
98, within a point of the low record for
the year.
Foreign exchango rates declincd
sharply earlv in rne day, but rallied
later. The bond market was fairly
active and strong except for the gov?
ernment issues, which sold lower.
Money and Credit
AfteT the close of yesterday's stock
market session it was reported that
about $1,000,000 of call money was
loaned at 8 per cent. The offlcial re
ncwal and ruling rate, however, during
trading hours was 6 per cent, the same ;
that prevailed all last week with the j
exception of Monday. Time money con?
tinued 8 per cent bid for mixed collat- j
t ral and 8Ys per cent ,or all industrial. |
The t'.me money being offered is still |
said to be in small amounts.
The ruling rates for money yester- i
day, compared with a year ago, follow: ,
Yester. Year i
Call money: day. ago. i
On mixed collateral.... 6 5% I
On industrial collateral. 6 GU I
Time money (mixed collateral1:
Sixty days. 8 5 V6(y 5%
Ninety days. 8 B%@5%
Four months. 8 bVs@5%
Four to six months.... 8 b\b@5%
Bank Clearings Bank clearings in
Xew York and other cities yesterday
were * .
Exchanges. Balances.!
Xew York_$624,403,592 $112,625 1GR
Baltimore . .. 15,915,052 7,980,008
Boston . 45,916,370 16,303,682
Philadelphia . 81,087,232 20,258,440 '
Silver?London, 82d: Xew York,
81.29; Mexican doilars, 98%c.
Sub-Trcasury?United State;; Fed?
eral Reserve credit balanee, $109,357,
086.
' he Dollar in Foreign Exchangc
The downward movement of the Eu- j
ropean exchanges, after the recovery
up to Saturday of last week, continued
yesterday, and pounds, francs and lire j
closed at perceptibly lower levels. As
on Saturday, comparatively heavy of-j
ferings of bills, particularly from the i
South, were made.
Yesterday's rates, compared with
those of a week ago, follow:
(.Quoted doilars to the pound.)
Yester- Week
day. ago.
Sterling, demand. $3.31)75 $3.5125
Sterling, cables. 3.4050 3.36
Sterling, sixty days.. . 3.3(125 3.111875
Sterling, ninety days. 3.3475 3.3025
(Quoted units to the dollar)
Francs, checks. 14.10 14.35
Francs, cables. 14.08 14.33
Belgium, francs, chks. 13.52 13.82
Belgium, francs, cbls. 13.50 13.80
Fire, checks. 18.1:.' 18.32
Lire, cables. 18.10 18.30
Swiss francs, checks. 0.22 6.15
Swiss francs, cables.. 6.20 0.17
(Quoted cents to the unit)
Guilders, checks. 36.875 37.06
Guilders, cables. 37.00 37.125
Austrian crowns, chs. .38 .34
Austrian crowns, cbls .39 .,'{5
Swoden, checks. 18.50 18.30
Sweden, cables. 18.60 18.40
Denmark, checks. 14.80 14.40
Denmark, cables. 14.90 14.50
Norway, checks. 17.05 17.05
Norway, cables. 17.15 17.15
Pesetas, checks. 17.47 17.17
Pesetas, cables. 17.55 17.25
Greece, checks. 11.09 11.47
Greece, cables. 11.11 11.49
Manila, checks. 48.75 48.75
Manila, cables. 49.00 49.00
India, rupees, checks. 44.75 46.50
India, rupees, cables.. 45.00 40.75
Japan, yen, checks.... 48.00 47.90
Japan, yen, cables.. . . 48.25 48.15
Argcntiua, checks.. .. 101!.10 102.60
Argentina, cables.101.00 102.10
Brazil, Rio, checks... 27.75 27.75
Brazil, Rio, cables... 28.00 28^)0
Marks, checks. 1.04 1.02
Marks, cables. 1.05 1.02
Czecho-Slovakia, chks. 2.8 2.8
-?-._.
Oinian Rnnk Statement
BERLIN, via London, Feb. 24.- The
statement of the Imperial Bank of Ger
riany, issued February 14, shows the
following changes, in marks:
Total coin and bullion..lnc. 944,000
??'d .Inc. 357)000
U-oasury notes .Inc. 85,179 000
Actes of other banks..Inc. 712 000
mils discounted.Inc. 1.591 699*000
Aavancea .Dec. Ki.Ololooo
Investmenta .Inc. 31,894 000
Utlier securitiea.Dec. 712,322 000
Notea in circulation.. . Inc . 789 944 000
r!?osi,S ,??;.??..Inc.1,157,318,'000
Other habihties .Dec. 962,731,000
Total gold holding, 1,090.853 000
marks.
May Admit Leather Free .
Tlie scarcity of leather and leather
goods m Germany is'still so acutc aiid
prices have advanced so enormously
doalers nnd it almost impossible to
do busmess on the present basis Trade
papers 111 that country, n is reported
are Uking an active part in conduct
n.g editona! ccmpaigris and solicitine
Neenmaadatl9iii .to&h. gov^nmint '
that tho imporUtlon of leather good
tree ot luxury tax be peraitted. 1
Traiisactioiis Yesterday in Listed Stocks
-Record of Stock and Bond Averages
Day Year ' Jnnuary 1 to date.
Yesterday. Before. airo. 1920. 1919. 1918.
Knilroad siocUa .. 216,400 74,900 128,900 4,114,300 4,369,900 6,488 800
Other Morks . 1,045,900 388,600 540,500 32,428,300 16,119,800 17,648,700
All stocks . 1,262,300 463,500 669,400 36,542,600 20,489,700 23,137,500
Yesterday. Day before. Year ajro. 1920. 1919.
V. 8. government bonds.$9,041,O00 $4,719,000 $5,991,000 $484,329,000 $352,321,000
Railroad honds . 1,022,000 691,00? 1,614,000 56,416,000 54,119,000
Olhcr bonds . 2,466,000 639,000 2,424,000 67,118,000 66,418,000
A" bond" . 12,529.000 6,049,000 10,029,000 607,863,000 472,858,000
High.
1919.
35
45%
88%
2/4
53%
92
95
96%
46'4
95/a
128% 105
61% 42
14334
54%
15'/ 8
101%
30%
122
47
1201/2
86%
99%
105%
106
30; 2
72
1001 4
82
46%
93 /a
140i2
1183/4
Ik.w. Dlv.
1019. Rate.
25 ?
34i 4 ?
65' 4 6
1'a ?
1% -
36'/2 ?
84'
82
89
393
75
Sales
400
800
800
22C0
Open. Ili.'jh.
124 Vz
'13
113.4
95
18%
1013,4
fe7
74%
9312
82 ?
104
1634
56
9334
SO
39'2
90
1231/2
117
77
96'/0
55/8
119%
433,4
15'/8
50
54
7
23
48'/2
691.4
107
76
76
Adams Express . . .
Advance Kiimely
Ajax Ruhlicr ....
Alaskn Cold Minc.s
Alasko Juneau . 1400
Allis-Chalmcrs . 3400
Allh.-Chalmcrs pr 100
Arner Ajrr Chem.... 800
Amer A?r Chem pr. 100
American Hank Note
American Beet Sugar
Amer llasch Magncto
? American Can . 2800 44% 4438
2 American Car & Fdry 2000 130;% 132
4 American Cotton Oil
.80 Anr Drug Syndicate.
6 American Express . .
Am Hide & Lealh. . .
Am Hide & Lealh pr
Amer Ice Sccurities
Amer Internat Corp.
American Linsced
American Linseed pr
American Loromo
American I.ocomo pr
Am Shi? & Com....
Am Smclting .
Net
rhge. Bid. Asl
200 41 41 41 41 ? 1' a
400 8334 83% S0' 4 80' 4? 334
800 1141,2 114'2 112'2 1121/2? 31/2
42', a 42 !'2? 2"/2
130' 4 13014? 31/2
42% 42%? 1/2
12' 2 12%? %
99' 4 99%' %
21% 2134? 1' a
103'/2 103' 2? 334
40":. 40' 4 i- %
800
9600
250
1900
on
1C038
74%
165' 2
61%
2134
59! 2
65'4
16 Vz
. 27V*
67!4
75
125
85/8
82
8%
93
176/a
75
123 Vz
102'. 2
3S%
49%
134%
111/a 105
31% 17
102/a 84
101
114
14%
10%
15
120
84
140';
64
103'';
98'j
28/
42
115
97
1CS
10?
200 100
169C0 35'
4900 49:
8C0 119
:co 107
10
93
7%
17
74'.-a
27?4
65
59'/^
1-151/
72
104/
45/
' 47
11/a
29/4
27/4
28%
85%
46
75',2
68
134
IO434
108/a
61%
62
1447n 11834
6<<% 47
17!
33
10%
10%
27
413a
59%
87%
120%
36/a
78
66
49
68
21V4
41%
40%
27
65| 2
67
20%
93%
13%
90
107
1/4
6
1:
4/a
4
7
21
30/4
45%
75
113
23/a
64 Vz
54
'.2
63
2 1L.' ?
B
333
20
36!
53
103
78
11
7C!.
1C1
26!
233'/2 191
41,
85
S6
191
9
16%
13
5%
91
147
15%
25
17/2
?5
135
48
36/a
19%
100
75%
175
345
89%
85' 4
90
85%
1023/4
55/a
49%
81%
41
33
84%
16
623,4
381-4
9C%
22%
613,4
4/,
14%
135
51%
111%
89' a
79-8
26%
6%
51] a
19' ,
48%
118
105
33 3 8
48%
6
91%
-.2
22
38%
47
18
32
28
70
183%
69%
35%
40! 4
79/2
893/8
165
6
9
10%
4
82 Vz
108
9/a
17%
12%
65' a
100IS
21
12
98
58%
152%
225%
73'/2
69%
84
66%
93%
37
32
68! S
33
28
58%
13
50
35
80%
13/a
60%
338
9' 2
11234
27%
76%
72! 2
70
133.1
4
7 Am Smclting pr.
6 Am Smclt pr A.
3 Am Steel Foundry...
7 Am StI Foundry pr. .
7 American Sugar ....
7 American Sugar pr. .
10 Am Sumatra Tob....
8 Am Teleg & Tel.
5 Am Tobaeco Kec.
7 American Woolen...
? Am Writ Paper pr. .
? American Zinc. 1900
6 American Zinc pr... 200
4 Anaconda . 4900
? Ann Arbor . 800
? Ann Arbor pr . 500
? Asso Dry Goods. 2000
6 Asso Dry (;ds 1st pr.
6 Assoriatcd Oil .
6 At, Top & Santa Fc.
5 At, Top & San F pr.
? Atl, Birm ot Atl.
7 Atlan Coast Line...
10 All, Gulf <?. W I_
5 Atl, Culf & W I pr. .
3% Baldwin Locomotive. .
7 Baldwin I.ocomo pr..
? Baltimore & Ohio. . .
4 Hall & Ohio pr.
8 Burrctt Company....
7 Barrett Company pr.
? Bcth Molor.; . 3000
5 Belh Steel, Class B. 116C0
7 Both Sleel 7% pr .
8 Beth Steel 8% nr ?
? Bltlyn liap Tran...
? Bklyn Rnsj> Tran ctf.s
? Booth Fishcrics Co. .
10 Burns Bros .
? Brunswick .
Vz Bultc Cop & Zinc... 1CC0
? Butle & Sup Cop_ 1600
? Buttcrick Co . 300
? Caddo Oil . 700
6 Calif Pacfcing . 3900
? Calif Pejrol .y 1C00
7 Calif Petrol pr. 100
4 Calumel & Arizona. . 300
10 Car.adian Pacific . . . 17900
5 Cenlral Leather .... 11600
7 Cenlral Leather pr., 200
4 Ceiro Dc 1'a.sro. 1400
4 Certaintced Corp ... 100
Chandlcr Motors .
Chesapcakc & Ohio
Chicago & AHon.... 800
Chicago & Alton pr 400
? Chic <<i East 111. 1400
? Chic & East III pr. . 1CG0
? Chic <;.-eat West.... 6100
2 Clue Orcal West pr. 29C0 ;
? Chic. Mil & St Paul 30600 '.
? Chic, Mil & St P pr 25130 !
7 Chic & Northwest.. 2800 i
3 Chic & Northwest pr 1C0 1
? (hie, R I & Pacific. 89100 I
7 Chic, It ? & P 7% pr 1400 ',
0 Chic, R ! & P 6% pr 400 (
? C, C C: & St Lauis. 400 ?
5 C, C C, C & St L pr 200 1
? Chilc Copper . 2800
3 Chino Consol Copper 2700 I
1 Coca Cola . 800 :
? Colorario & Soulhern 8C0 I
1 Columbia Graph . . . 3900 <
5 Coi lixs & Electric. 200 I
2 Consol Int Calla Min 1900
7 Continentai Vn.'.: .... 300 I
1 Continentai Candy 3900
4 Corn Products . 9600 i
7 Corn Products pr. . . . 200 1i
34 Con Textile . 700 ;
12 Cruciblc Slcvl . 23600 2(
? Cubu Cane Sugar.... 800 '
7 Cuba Cane Sugar pr. 4C0 I
9 Delaware & Hudson. 700 <
10 Del, Lock & West... 400 V,
? Den & ltio C.-ande... 6J.00
? Den & Uio (ir pr. . . . 297CO '
1 Domc Mines . 400
? Dul, So Sh & Atl_ 200
7 Emerson-Brandt pr. . 100 I
5 Fndicott-.IohnKon . . . 6600 1
? Erie . 20100
? Erie 1st pr. 8600 :
? Erie 2d pr. 2500
8 Famous Players. 1300 ;
10 PUhcr Body . s'00 li
? ii i.;k Rubber Tirc... 56C0 :
? Freeport Texas .... 3C0 '.
? Gaston, Wms & Wig. 800
6 Gen Chem Co pr. 200 !
6 General Cigar . Ib00 (
Electric Co. 2000 1!
1%
1000 84 84 82
2000 97% 97% 97:
6600 59 59 56'
14C03 130 130 123
1C0O 46 46 44'
18'4 I8/4 17:
53 53 53
58% 58% 56'
15/a 15'-2 14
26% 27/4 26(
50% 5034 49',
300 69! 4 69% 69'
400 114/a 114/2 114!
C600 84 85 83=
800 73 78'/2 78
1500 8% 8% 8'
1000 33% 83', 4 88'
2000 149 149 145'
200 64! 2 64/a 64'
39800 110% 111/4 1C8!
1 16% 117
100
38% 35'
49'a 43
119 113
107 107
21 22 20:
8o34 87% 85-'
200 102'4 102% 102'
200 112 112 112
9!00 14 14%' 13'
1500 1034 10% -,c
800 11 11 10!
300 105% 1C5% 1C5'
9600 12634 1263,4 124% 124%
56 ? 134
? 103'/
/a 27
7!4 196
2% 41'/
1'k 79i
% 109% 110
1 />
60?4
15
.'1%
52 %
l6/4
74! 2
1 I
13
30' r
?994
tr j
61
12 C.oneral Motors .... 37800 245
6 (.'cnerol Motors pr... 4C0 79
6 Gen Motor-; 6", deb, 3900 71
7 Gen Molore 7"0 deb. 2000 8V
6 Goodrich, B !?'. 3100 70
7 (Joodrich, 15 F, pr... 400 94]
? Granby Mining . 300 39
2 Gray Davi.; . 700 '"'32'
7 Great Northcrn pr. . 9900 773
4 Great North Ore sub 6C0O 38'
Gulf Mob & North pr 300 33
? Gulf State Sleel. 2000 64
1 Ilupp Molor . 1000 141
4 Hask & Bark Car Co 600 571
Hendee Mfg . 4qq 37
7 Illinoiu Central .... 700 88
? Internal Agricul ... 200 17'
6 Inspiration Copper 2S00 547
? Interbor-Con Corp .. 6ic0 4]
? Interbor-Con Corp pr 7000 14
6 Internat Harvester 3900 113
? Int Mcr Marine. 9600 313
6 ln* Mer Marine pr. . 2400 843
? Internat'! Paper .... 4CC0 7C<
6 Int Paper pr ;,lpd... 300 743
? Internat') Nickel .... 2000 21'
? lov.a Central . 300 6s.
? Iron Products . 200 44
? Kansas City South.
4 Kan City South pr.
4 Kclly f-'pi ingfield . .
8 Kelly Spgfd 8% pr
2 Kennecott Copper .
1.20 Kcystone Tire . 1000
? ICeokuk & Des M. . . . 200
6 Lackawanna Steel . . 65C0
? Lakc Krie & We.st.. 800
? Lake Krie & West pr 300
? I.ec Rubber & Tire. 2C00
3! 2 Lehigh Valley . 2400
? Lig & Myera Tob rts 1000
2 Loews, Inc . 80C
? Loft Candy . 1GT0
Loose-WHos BLscuit . 203
12 I.orillard, Picrre . . . 2O0
6 Mackay Cos . 3CJ
? Maxwell Motor Co. . . 10C0
? Max Motor 2d pr. . . . 300
7 May Dep't Stores. . . . 800c
10 Vcxic-m Petroleum,, 2410O
21'4 2 Mic.mi Cons Copper.. 800
2234 1.20MiddIc Slates tlil.... 7000
43!3 4 Midvale Steel . 6600
9 ? Minn &, Sl L new... 4500
63 7 M, St P & S St:i M. 300
6 ? Mo, Ksn & Texas... 9900
8% ? Mo. ICan v>i Tex r,r. . 50QO
21 ? Mlssouri Pacific .... 39300
36 ? ^ Mbsouri Pncitic pr.. 11900
01% .1 Morttann Power .. Zr>:
36% 4 Muilin* Body .| 40J
235%?14% 23
79 . Vz 7
71/.? 1/2 7
60/1? Mi 6
62 ?
133.
5
397
137
44'
100
95
273
24'
4'
68
28
40'/
14'
25'
17/
43
149
64
18;
20
117'i
161'
7100 18% 191 ?
300 433H 48-S
400 116%*1167/j
200 100 1C0
3900 23%
1000 30%
200 0
65C0 75! 3
800 12
300 21
2C00 32%
2400 4634
29',
12
29', 2? 1
1' a
? 1
sn
Summary of Stock Exchange Dealings
(Copyrlght, 1020, New York Tribune Inc.)
Yesterday.
20 Railroad stocks . 65.35
30 Industrial stocks . 92.10
50 Slocks . 81.40
10 Railroad bonds . 73.82
10 Industrial bonds . 89.80
5 Utility bonds . 74.16
25 Bonds . 80.28
HiRh. Low. Div.
1919. 1919. Rate.
125
116
72%
89'b
11- ,,
89'/2
67s
17?/a
47-H
117
73| -i
32
60
47'4
48'/2
36%
20'-a
14'/2
99
SH<2
77t4
5078
5'/a
9', 2
142
4U8
65
73
f.l'4
?C8',4
103',8
431/4
3514
151 2
42
32
51
6678
421-2
66
82^o
23! a
63%
29%
2734
103'a
104!',
1l7'-'a
9G
102
1063
223
77J
94
Sales. Open. High.
Close.
Net
rhfce. Bid. Ask
110!
112
44
83
8
70
4!
14!/i
391/;
93
64!,a
233/i
YA
J/4
55
43
30
23( 2
16
10
88
68 M.
50?8
38%
4%
6iA
7 National Biscuil _ 400 111
7 N'nt Bisouit pr. 400 113
? Nat Aniline . 3000 55!/2
7 Nat Aniline pr. 300 86
? Nat Con & Cablo_ 1300 10
6 Nat Knamel & Stmp. 100 743i
? N R R of Mex 2d pr. 500 6
1'/z Ncvada Con Corp... 300 W/l
? N Or, Tex & Mex.. 900 46'/8
10 New York Air Brake. 2000 101
5 New York Central... 6600 73%
? N Y, Chi & St L... 6900 30
5 N Y, C & St L 1st pr 800 60
5 N Y, C & St L 2d pr 400 47!2
2/a New York Doi-k_ 300 34
? N Y, N II & Hart.. 62800 35
1 N Y, Ont & We.st... 35C0 20!4
? Norfolk & Southern. 300 133i
7 Norfolk & West_ 403 97
7 Northern Pacifir . . . 7900 78! 2
5 Nova Scotia Steel... 400 56
4 Ohio (in.s . 2800 43%
? Okla Prod & Rcf. . . 6900 5|.-2
? Ontnrio Sib
120
28'?
51
70
50' 4
71-<4
673.4
40
20
11
33
23! '2
48
62
34%
50
483 4
15%
51'4
21'/2
16
84
100'/,
109
77'2
89! 4
IO3J4
19/g
6434
62! 2
97%
43
36
93%
13% ?
14'2 1
15!4 ?
23 Vz ?
11 ?
21 ?
6/2 ?
12% ?
214 S
1031 1
75'/,
3J% ?
Otis Elevator . 7C0 123
Otis Steel . 800 30
Owens Bottling .... 400 57
Pacific Development. 300 71
Pacific Gas & Elrc. . 200 50
Pan-Amcr Pct . 26100 86
Pan-Amer Pct B... 1500 80
Pennsylvania R R... 79100 43
? Pcnn Soaboard Steel 1500 23
? Peoria & Kastern... 800 15
? Peoples' (ias & Cokc. 200 38
? I'em Marquctte . 27100 31
? Pcre Marquctte pr. . . 300 50
5 Pere Mar prior pr... 200 63
3 Philadelphia Co .... 3800 37
4 Pitts, C, C & St L. . 1000 66
? Pierce Arrow . 11900 55!
- Piorce Oil . 4300 18
5 Pittsburgh Coal _ 400 57!
- Pitts & West Va. .
1 Pond Crcek Coal....
8 Pressed Steel Car. .
7 Pressed Sll Car pr..
3 Pullman Pal Car..
5 I'unta Alcjvre Sujyat
8 Rway Steel Spring... ?00
7 Rway Steel Spg pr... 400
2 Ray Con;; Copper. . . . 6900
4 Reading . 3C200
? Remington Type . . . 300
6 Rep Iron & Steel... 32100
- Rcpub Motor Truck 100
- Replogle Steel . "00
5.50 Roy Dnt N Y shares 0100
- Saxon Motors . 1000
1 St .lo.seph Lead. 1G00 16
- St Louis & San Fran 41400 24(
- St /. & Snn I-'run pr 130 33t
St Louis & S W. . . 3ii00 17
St Louis & S W pr, 7C0 30
Seaboard Air Line. . 3100 9'
Seaboard Air Line pr 1600 17
Sears Roebuck . 100 219
Shattuck & Arizona. 400 12
Shell Trans Ter. 8900 78'
-10% 123
6900 2Z
300 19
1500 94
200 102'
102% 102%
200 11434 114% 114% 114% h 34
90'/2 1C0'/4
78 ? 3%
92%? 2% 92 % 93
104 ? 23/4 103% 107
20', a? % 20 203
75/4? % 75 75'.
71 ? 1 71 73
97%. 4% 97% 97!
43?2 42 45
40?1 36 39
9633? 6% 96% 963
Slnclair Oil . 28100 * 40%
Southern Pacific .... 24600 98
Southern R R. 352C0 24%
Southern R R pr. . . . 1500 58%
Stewart Warner .:.. 100 41%
Slromherg Carli .... 300 58
Studebakcr . 25100 87%
Stutz Motors . 1000 118
Tenn Copper & Chem 1600 10%
Te.xas Company .... 49C0 177
Texos & Pacifi .... 21600 377g
Texas 30% pd . 300 174
Third Avenue Rail . . 200 14
Tobacco Products . . 1500 68%
Tol, St L & W ctfs 7000 11%
Trans Con Oil. 8900 23'4
12474 110
Transuc W'm Steel.
Union Oil .
Union Pacific ....
I'nion Pacific pr. .
United Drug 1st pr
I'nitcd Alloy .
I'ni'.cd Fruit .
I'nited Rail Invest
Un Rail Invest pr. . 200
U S Cast I P & Fo. . 300
U 3 C I P & V pr. . 400
U S Express . 200
U S Food Prod .... 36C0
l' S Ind Aleohol . . 6600
U S Realty & lmp. . 300
United Retail Stores 121C0
U S Rubber . 16100
U S Srnelt & R2f .. 300
u s Steel .101900
V S Steel pr. S00
Utah Copper. 1900
Yanadium Steel .... 400
Va-Carolina Chem , . 3900
Wabash . 13900
Wabash pr A . 6600
Wabash pr B . 2000
Wells Fargo Express 300
Western Maryland . . 16900
West Maryland 2d pr
Western Pacific ....
Western Pacific pr. .
Westinghou^o Mfg
Wilson Co .
Wheeling & L. & E.'.
Whteling & L E pr.
900 53
4000 31'
7800 120
400 67*
400 49!
700 45
Yz
700 18434 I8434 182% 182%?
S2-ra? 33,;
% 1103,4 1111 .
1600
'8600
300
3700
400
8800
5600
White Motors . 3700
Willys Overland ...
Wiliys Overland pr.
Wisconsin Central .. ,.? ,
Woolworth . coo 122,/ 122,
Worth P & M pr B. 300 72 72
9900
300
1400
% 122% 124
Bid and Asked
, Dlcl. Asked :
; ? 2ou j ,(3 ??,, ?;;;;;
Bid. Asked.
I>r
\ir,
Can pr..
Am C i& !? pi
Am Cot O pr
Am Ive See p
A111 Mail & 1
Am ShlpbMg.
Am Snufl .
, d0 I'' . SO 90
Am Sugar pr.IlfiVJ 117
Am S-im T pr ,v;'L s6
Am Tol & <?.. 50
' du p" '
'I'.it
I>.
KCFt?&Sl
<e| S|, m
K.-.sr.v W
K .>, ,') ?
Krojee S
I pr ?ii
e\v,.
Co,
.102
. 7H
.100
:%"
.1U.
A l> (1 2d pr.
AUantic llof. 1350 14211
'I !"?.112=4 n::'
Auto S Corp. 14 13
du 1 r. j,;it US'
Bam leather. ? , 101
do pr . 30 ?>',
Belh Stoel . . 82
M '?.:. BdUon. 94 ??;
!'? '? I 11 tlas ..-J ..
Biinvu Sliuo.. fl.'.'^ u7
lo pr . i : iis
Bu na Bros pr 1)9 1 !'r
Buff 11 * v 4,-jU -,,,
Bult & Suso. * 70
Ca
South
ilie .1 I ;?
. .'.I K.lrv .
do
". 1
41'
:.i>
? ( x .K.11
??v S A T.l. II 9
pr Cor lst pr S4H
I''' I'l. Ti..,:. S2
Kl i' M * o .1
?:-? pr
Ucledc ..,.
U? & m Tob.105 r
, f'o pr . 103 in'o
1 . ''" '-'?' Pr. ..110 115
"". I l* pr.104 107
: M,i -kj.v Cos pr 111 ij'i
M.iiaa Sugar.no nl
M.:.:,"ri%?,i- ^ ""'
%?& fe" H ' ,;
Mii.' Iloekw, |V in
Jfartlu r.. . : '.
?'ath Alk \v iio '?
Ma, J, f, pf , ,
Mex I'etro n 94
msi'&ssm ,,:. ,?-,
lo 1 I...... h0
Motil Pmv pr 'i'l
JlorrU & 1:,, ',.;
M'J : Body pr 97
~ ?? S Cliat.ioo
.Nat Aeuio w
\S (??, & .< pr .'|
;N 1... .'. S! pr 99
sat I....! pr.l!M<
Mt!! >:M lst pr
N ?> Docli p. 17
N V I, .?, \V. v-,
: '? n .V \V pr. 67
IN falls I" pr
Ohio Fuol
110
100
C ??'?? & 1'ltts. -
l/luett 1'ea pr.100 lo"
1 & S lst pr. 50 5 ,
, do Jl pr. . |L> 4^
< 1 1 Ciraph pr. ? 99
;:^V;a{'p%ir,:? ?;:, ?.... ?,. ?
<-out losur... 71'.; 73% Oti, <<<<?] -,
1 oni Prod pr.lo.;'.. 105 * -
1 i'"\ L'arpeL 52 * -.,;
Cruc Strel pr 97 '?? 99W
1 i' Am Su?ar.375 " ???-. '
,']0 Pr .1'U llo
!'-.ere 1 o i>r :?? '?. 1 i\
]??'"' E Uson. 103 * lflfi
' I !l It 11 97
125
4ft
127
''?''in Match .117
D S S & ,\ pr g
furli HosJco-. ''i
do pr . .-,.,
Eli c s OT Hj: 10H
Blk II Oal pr 33
^n-BrandS -,
Fatrbanfcs ,,-,
k'ed Mlii &'s 1 ?
_.d? Pr . 30
' i?her By pr 100
fleii Chem . .130
Gen 1 Uiir pr. 9-,
do pr deb Sj
'? ? ? M *; N 7
'? S .KU l?t pr
HartTtia.i Oorp S7
Homfs'ake -'-?
Int Asr pr
60
200 '
115
101U
93 &
.jjBII pr '
!'il--!tl.- Coasl . 's'.
do .. i pr... 45
Paelllo Mail. . 29
I'liu A. r-.i pr.l"5
Partsh & Bing 3s
Pcnn I C pr. Pi
Pett Mull ... 33
do lt pr. . 98
i! Pleree Vn pr.100
'< . Pierce iiii pr 92
?' Pitts 1 oal pr i59W ?,
; ' P Kt \V & C lljC ;? 1
V- IPltu Steel pr yil, >io
'-?'' P A: W Va pr 75 ;?<
,:. p S C of .N .1 " ;:,
.' ??< Re..l!t;, lai pr ,: '. t
? -| >!o 2d pr. . ; 1 35
"'' rtem Typ, pr. ?- luo
"' lo lst pr. . ?'?> 9S?
':'.' rtotuis *.- Sar.102 107
,'' H.sp I i s pr. 1"0'-.. 1,11
10 Savago Arni.... 72 7;,
nj" Soarj-Roi pr.,113 116
ss S1S S ot I pr <i"
,-? P R 8uSar.2i
103
s"^Sto,-:ioo%,rfe?u^^^??
Bid. Asked.
Tldo Water
Tol) 1'r.vt pr.. o0
i-'^.W pv
1'ni ( Lty il T 30
do pr . -
rnd 'rypowrit.167
do pr .tiin
(' ?' 8 of Am 160
do pr .109
I l'niif l\1 pr.lMO
Va
120
224
14'J
C & C
'?0 DeUm.liiK :'i
do pr . 88 9
W 1,'nion Tol. "., s
We-M Air Bke.lfl 11
VV Mtg Nl pr 02U c
Wilson t'.) pr. 95 i)
Woo ivor-Ji pr, 1 10U )'i
IW P&M pr A 8S i
Pel,.
Mar.
I'i b,
: vi).
IV),.
I<>b.
feb
Mar.
I'. b.
Feb.
Stocks Ex Divid^nd
- American Kxpresn
Ainerli .. n l.lnseed
?Anieri an Sugar l>- r ' ' 1'?,'
do pf . . .
American T, 1 '& \\,b\e.'.'
'? allfornla Paeiting
Canadian Paclfie Hv.
1 h. mieal N'at Bank ..
pelaware .'.- tludoon ...
I 'la mond M:il,-)i
- Bastman Kodal< '.'.' ' V4 *
? do pr . * a
- I0IK Ji.irii (loai pf.
-Int Mot Truch .-. mp lst
,. ''" Temp 2d pf.
- Iveokuk .>. Des Moines Ry'
-N'at ISnam ,'^ Siantp
?New V,,rk Air Uraki
-.Norfolk & Western tt'v '
javage Armti. . ; i.
-Smith. : 11 I'aeil'lc '
-United Cigar Htor m'if' '
;. -s c 1 p & \-u. ?{ ?
?L h Indusl Al ohol .
-U b Steel Corporation.
Reg
, Rat
American Can pf. . . i -\
California Packlng.. 1 u
Central Leather pf 1 a'
Continental Oil.. $3
Owens Uottling. , '-t.
. '?<> Pf ........
international Salt
McOraw T & u. .
Packard M r t,f
Pierce Ar M c pf
Dividends
ular Dcclaiations
Pay
*1.7
1 '2
Po
rlod
abl'.
Apr
Mar
Apr
Mar
Apr
Apr
Apr
Mar
M a r
Apr
Holders
of rec.
1 Mar 17
~> K.-b 2S
I Mar lo
S Peb 2 4
1 Mar 22
1 Mar 22
: Mar 16
1 Peb 2 0
-"' Fi b 2:.
I Mar 15
230
115
Int Hirr pV..'iii i,i?,4LdoJWp?. ir- -
Int Fiper pr M in *i,td MlUln?.12S 140
' ? ' ? ' 1 do pr .. . <?!) (io
105
int riper pr.. M \nn r x r*,UJ
IW .NkW pr. S5Vi '22 'stuto.r
Alabama (ireat Southern
Reports Smaller 1919 Net
Net operating revenue of the Ala?
bama Great Southern Railroad Com
with ?J,ii,!8,4i1 \n 1918.
<^'o3s operating revenues last year
"inountet to $iri--<o-oi. *
with ^q.M. ?1?.529,73.9, compared
To 1 $n9'296Vb.35 In ^ preceding year.
ToUl operating expensea were $8,463
'"? lea^ing a $2,065,963 net Taxe
S2n8G ^"Kil, rHVOrUe ??4Sd
U,489,779. charK? balance was
In Wall Street
A Disappointment
From the viewpoint of almost every?
body in Wall Street excepting the pto
feasional bears arul that specios of ob
Herver who cares little what happens
so long as he can say, "I told vou so."
, the stock market was a sad, sad dis
! appointment yesterday. The slogan of
! the bean> was "If they won't go up
I we'll put 'em down," and they pro
) cecded to conduct their day's cam
! paign along this line, and w1i.fi a good
; deal of success. For not only did the
! market fail to respond to news de
velopments over the holiday, but, what.
was worse, stocks decliiied rather
j sharply when the professionals applied
! enough pressurr to take all of the joy
i out of life for the bulls. The prepon
| derance of the news over th': double
! holiday was looked upon as favorable,
! including as the biggest constructive
i factor the passage by Congjess of the
1 railroad bill, which is now up to the
J President for his signature.
Willys Explains Plans
John N. Willys, president of thd
; Willys-Overland Company, in a letter
| to the stockholders, explains that the
i move to increase the eapitaii-'ation
! from $7.3,000,000 to $125,000,000
through issuance of $25,000,000 addi
; tional common and $25,000,000 of a
, "junior" preferred stock, is being put
; before the stockholders for their ap
proval, so that the company may be
prepared to raise additional working
, capital whenever the directors deem
such action necessary. "The earnings
; of the company in the first quarter,"
says Mr. Willys, "bascd on the present
' schedule of shipments, can be con
i servatively estimated at $3,500,000,
| which earnings will increase during
; the year, and will produee an annual
| profit conservatively estimated at $16,
000,000, a showing which warrants the
expectation that 1920 will prove 100
per cent the best earning period in the
company's history." He states that it
is to safeguard this earning power that
careful financial provision for the fu?
ture is being made. The company is
now concentrating upon. production of
two models, and entered 1920 with the
jargest volume of businss on its books
in its history. Current production is
put at 600 cars a day. It is planned,
according to the president, to expand
production to 800 cars a day without
additional plant investment.
The Trade Figures
To most people the foreign trade I
figures for January, setting a new high ,
record for exports in the lirst momh
oi the year of $731,000,000 were
rether a surprise. So much talk about
.he probable effect of the unprece
c.ented fall in the foreign exchanges
upon our exports had been heard that
most ioiks were prepared for a b:.,
too?' The exPorts actually ran $49,
588,000 ahead of December $108448
rnLr,nCa^ of Jan'-!aO\ 1919* and $!.<!
000,000 ahead of the monthly average
of 1910. ]t was pointed out yesterday
.nat no one need get optimistic be?
cause _of these figures. however since
the effects of the recent panic in the
loreign exchanges are not vet seen
ihe lebruary figures and th*cse from
now on are expected to refleet what
has been going on behind the scer.es
m international trade relations
General Motors
Interests back of ttie General Motors
Corporation are apparentlv going
j straight anead with their big pro?
gram of splitting up the stock. n
had been hinted recently that the plan
might be called up in view of the
break in the old stock of some 160
points from its high price of 1919 But
announcement was made yesterday that
i the corporation has formally made ap?
plication to list temporary certificates
? fcr $15,703,310 shares of common stock
without par value.- Favorable action
upon tne application by the exchange
; committee on listing would result in
the mauguration of trading in the new
stock on the board at once. The mir
I Ket for the stock is now on the curb
I It is proposed to convert the tempo?
rary certificates into permanent certifi?
cates as of May 3. When Motors get ?
its 15,703,010 shares of stock on the
board it will displace Steel common
- as the issue with the largest amount
of _ stock hsted. Many market ob
i:ervers expect to see Motors become
one of the most popular speculative
vehicles because of the large floating
supply. The old General Motors stoc*
*;f ,^eak yesterday, closing at 2351 ,
on 14^4 points.
Steel's Close
The closing transaction in Steel com*
s'oon JT"tCr<!a^ was a sin*le bl?<* of
8,ono shares or ihe stock at 96 the low
pnce for the day. That single trade
lnvolved a monev value of K708 000
Steel sold as high as 98%, but the
bears made it their nrev in the aft--^
noon drive.
More Foreign Bond Liquidation
Selling of Japanese government ster.
Iingbonds and American railroad mort
gage issues with the privilege of de?
livery at a future date continued yes?
terday. This is selling for English
and Continentai account, the seller re
serving the right to a deferred de
liveryofthirtydays in most instances
so as to be able to ship the bonds
across the Atlantic. Japanese bonds
aggregating $93,000 par value change,;
hands seller 30" on a declining pric
scale, with the biggest selling "in' th.
^iO?oonS?Ar:esv,-41^- In ,ht' ra? *^
* i? o^,tch.lson ?eneral -is went
seller 30" at 77. The most strikiug
transaction, however. was the trade of
a block of $274,000 par va'.ue of Denver
>'-? Kio Grande refunding 5s at ::<> -,
drop of 1% points rrom the preceding
sale. which was $10,000 also "sel'er 30 "
A holder of $,".,o;)o ,;av v./,,,.' <",,- \y'
souri Kansas & Texas ;ccond t "?
nis bonds reserving the criviles-e ? '
having sixty days in which to make
deliverv.
Advance F'rice of l.ead
The American Smeiting and Refminir
Company advanced its price for lead
fiom 844 cents to 9 cents a pound
yesterday. The metal is now back c%se
to the high record price established
during the war A year ago lead was
in hght demand at 5'. cents a pound.
Rusr.ian Bonds Strong
When sound investment and specu
latiye securities were succumbing yes?
terday ,o the attacks of professional
Dears, Russian government external
ttr^Ufc ddenI? look on Pronounced
strength o? the Curb. On transac
tions invoiving a par value of $30,000
o! the Russian 5V6s they advanced
from an enening and low 0f
the effeci that definite stens toward a
settlement of the Russia'n problem
have been taken by the Entente al ??'
meeting of the Council of Premiers
through the sending of a commission
to Russia and the encouragement of
commerce between the .Soviet govern?
ment and the rest of Europe The
Russian externals have been bou h
rather actiyely recently by,persons c>f
a speculative turn o?' mind and a
o' taH^ et,bt?k Wh? iV- n?< ?*?id
ol taking a long .unge gamblc.
Waiting for the Word
Rather spectacular developments
are axpected immediately President
?K-i ," afh>:es l"B sio-tiature to ?? ?
Oil leasing bill," which provides for
the releaae ot oil and mineral lands
ThleetbMrw..held by, the Ko^rnment
ine bi.l was recently pasBed bv bo-h
ac?rUe3,eof0f ConS""-, About 1,181.000
acres of government land are involved'
much o/ ,t locafed in the heart of rfeh
oi}-bear.ng ter*rtory in Wvomin? Th
M.dwest Refinin* Comnany, c tro 1
The Bedrock Security
of
Municipal Bonds
demonstrated by the experience
of a prominent insurance com?
pany in these investrnentsi.
Income derived therefroifa Free
from Income Tax ar.d (worry
; Booklet and List No. B-110
of Municips! Boads
Yielding 4%% to $%%
Sent Upon Request.
Spitzer, Rorick
& Company
Established FCl
Equitablc Blds., New York
hicago
Tolcdo
The Vvest
and the
Exchange Problem
Discussed in ihis weok's issue of
THE BACHE REVIEW
The REVIEIV is itsued meelfly ani
Copies tt.g'j be had upon rcquctt
J.S.Bache&Co.
ESTABLISHED 1893
Members .Vei 5 >rk Stock Exchang,
42 Broadway New York
Kranches an 1 CorresDondents
thrc tghi it the I 'ni . States.
Sterling, Franc
and Dollar Bonds
We have revised our cir
culai on Bonds of Foreign
Governments and will he glad
to send it on request for
j Circular 24-J.
i It describes ten of the most
I prominent issues?those whosc
principal and interest are
payable in straight dollar?,
j those payable in doilars at a
fixed rate of exchange and
those payable in dolian ;it
whatevcr happens to be the
current rate of exchai
Muir E? (p.
Mcr.tbers New York Stock Exchange
61 Broadway
New York
THE
I
TRUST COMPANY
BUFFALO. KY.
EVENTIETH YEAR Or SERVICE
CAPITAL AND SURPLUS
BI j SEVENTEEN MILLIOM DOUARS
mzs.
rrrrnrrrrrTr^.-'vi-T-^jf^-f^ - gjgg
18
n rite Dept. 10
rKlSHOLM&CHAPMAN
Hembers New York Etock Exeha*0*
71 Broadway New York City
l Ptown uffiee. . .. ?2nd tti.
u*rlem orH ? . 290 Lienox Av , cor. l*iin St.
'?'?? >??< Office.i] ;. 14$th ?:?
. drooklyii OlHce. : f:l ii
VonkerK Office. 12 N BrMdwM
Ne?a:k Office. :.. Broso St.
feds fcr InvesiiiBent I
Barris,Forbes&Co
Plne Street, Cor--er Vllliom
NtW YORK
Westchester Fire Ins.
U( mbcrs Xew 1 ? ,??. Sfor*
115 Eroudwa- Phone }6M Ueetet
I. M. TAYLOR & CO.
Inrorporuted
INVESTMENTS
7 Wall Street
Iio?,*c>n fl^veliind
i'llihiUelptila IMtsliursU J
by Stiii' lard Oil inter sta, ::
j -:':' factor in the R'yominj; 1 -':i
"'"'.'?'. is :? derstood to* c "
active development work. Oil ti ??'?*
men say they would not be sui - ?
to see. the oroductior. of the Wvonin*
Salt Creek field pushed up to 50,;)03
barrek a day in a few months one?
the land ia released bv ^he govern?
ment. Report* from \\*'yonung indt
tate that hungry oi! nrosnectors a:?
braving Arctic weather, caB?pl?S ?*v!
the edge of the territorv irvolve.l.
ready to juirp the moment the biil be?
comes law.

New-York tribune. [volume], February 25, 1920, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume], February 25, 1920, Page 12, Image 12 About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume], February 25, 1920, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924