New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 06, 1920, Image 14

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New-York tribune. [volume], March 06, 1920, Page 14, Image 14
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New-York tribune. [volume] (New York [N.Y.]), 06 March 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-03-06/ed-1/seq-14/>

Newspaper Page Text

Advance of Stock
Prices Checked as
Covering Ceases
, .
Halt dn Buying for Short Ac?
count Followed by Dull?
ness; Call Money Rate
Drops to 6 Per Cenl
t ??. ~.
Although the upward movement oi
foreign exchange rates carried furthei
yesterday, the stock market failed tc
reflect the improvement. Trading wai
dull and price changes were unimpor?
tant as a rule. A few stocks advanced
hut this was owing rather to lack o:
selling pressure than to broader do
mand. As was to be expected, in viev
of the strength displayed on Thursday
prices opened higher and for a tinv
displayed a tendency to advance. One?
the overnight accumulation of order
had been filled, however, the marke
relapsed into a state of dullness, whicl
prevailed throughout the remainder o
the session. It was evident that th
short covering which had caused th
upturn Thursday had been about com
pleted for the time being, save in
few of the motor and oil stocks, such a
General Motors and Mexican Petroleun
Even in these issues the buying ;\va
by no means urgent.
Railroad stocks wero dormant. Ir
vestors apparently arc waiting to se
how the roads will work out undc
private operation before making e>
tensive commitments. During the re
cent advance, railroad shares wer
bought without much discriminate
the ones of doubtful value advancin
quite as much as the standard issue
This, perhaps, was natural, in view <
the oversold condition which prevailei
but the first outburst of enthusias
having passed, greater care is beir
used, both by investors and speculi
tors, in purchasing the rails.
The report that the British goveri
ment is preparing to send $250,000,0(
in gold to this country to meet loai
maturing next October was receiv?
with a good deal of skepticism in Wa
Street circles. There seems to be i
doubt that large gold shipments a
coming from abroad, but definite i
formation as to the amount which wi
be sent is lacking. Such shipmen
would be welcomed by brokers ar
speculators, since, it is argued, ai
substantial increase in the cold hoi
ings of the Federal Reservo ban
might be followed by easier money,
is doubtful whether this would real
happen, however, because in any eve
imports are not likely to exceed e
ports in the near future. The on
countries which owe us on balan
can't spare the gold in quantities su
ficient to offset the losses to the cou
tries with whom we have balances
settle. That, at least, is the opini<
of bankers who are in close touch wi
the situation.
Money yesterday loaned and renew
at 9 per cent at the opening, later dro
ping to 6 per cent. This %vas accept
as foreshadowing a more favorat
bank statement to-morrow. The dema:
for call loan3 was not great. Tii
money was as scarce us ever, broke
bidding as much as 9 per cent wit
out success.
The bond market was active wi
Liberties tending lower. Consid?rai
foreign selling of railroad and Japa
ese government bonds appeared.
?
Money and Credit
Call money, after renewing at 9 ]
cent yesterday, dropped later in
day to 6 per cent, the lowest rate sii
February 24. Bankers stated th?
was nothing significant in the decli
and that it did not indicate that lov
rates were likely to continue for s
great length of time. This was boi
out by the time money market,
which no change was noted. Much
the current tightness of money, in i
opinion of bankers, is due to the ?ii
culties shippers are having in gett
their goods to buyers. This neces
tates tho tying up of a large amoi
of funds which might otherwise
temporarily available for lending
call. With the advent of better weat!
it is expected the transportation sit
tion will show material improvement
The ruling rates for money vest
day, compared with a year ago, folie
Yester- Y
Call money: day. ag
On mixed collateral... 9 <
On industrial collateral 9 I
Time money (mixed collateral):
Sixty days. 9 5%@
Ninety days. 9 BMs@
Four months. 9 5^?J/
Four to six months_ 9 6%@
Bank Clearings?Bank clearings
New York and other cities yester
were:
Exchanges. Balanc
New York... $751,762,966 $85,900
Baltimore. 13,704,857 6,211
Boston. 67,023,736 18,835
Philadelphia.. 76,212,357 16,754
Sub-Treasury?United States Fed'
Reserve credit balance, ?75,000,069,
Silver?London, 77%d; New Y
$1.29%; Mexican dollars, $1.00.
The Dollar in Foreign Excliai
The report that Great Britain
Franco would send largo quantitiei
gold to this country over the con
months in anticipation of the An
French loan which matures on Oct<
15, although not yet officially <
firmed, yesterday caused sterling
change to rise 10 cents above Th
day's top price and 15 cents hif
than the close on the previous
Yesterday's high was $8.70 and
closing quotation was $3.6525. Bel;
and French francs and lire simil
improved. Much short covering
reported.
Yesterday's rates, compared ?
those of a year ago, follow:
(Quoted dollars to the pound.)
Yester- W<
day. aj
Sterling, demand .... $3.6525 $3.
Sterling, cables . 3.66 3.
Sterling, sixty days.. 8.6175 8,.
Sterling, ninety days. 8.6025 ??.
(Quoted units to tho dollar.)
Francs, checks. 13.70 14.
Francs, cables . 13.68 14
Belgium, francs, chks. 13.14 13
Belgium, francs, cbls. 13.12 13
Lire, checks . 17.92 18
Lire, cables. 17.90 18
Swiss, francs, checks. 5.82 6
Swiss, francs, cables.. 5.80 6
(Quoted cents to the unit.)
Guilders, checks . 37.25 86
Guilders, cables ..... 37.375 S6
Austrian crowns, chks. .39
Austrian, crowns, cbls. .40
Sweden, checks . 19.80 18
Sweden, cables . 19.70 18
Denmark, checks .... 15.90 14
Denmark, cables ..... 16.00 14
Norway, checks.17.65 16
Norway, cables . 17.75 17
Pesetas, checks . 17.92 17
Pesetas, cables .". 18.00 IT
Greece, checks . 11.16 1C
Greece, cables . 11.24 1C
Manila, checks ...... 48J75 4i
Manila, cables . 49?0 4S
India, rupees, checks-.. 45.50 44
Tndia, rupees cables . 45-75 4E
Japan, yen, checks... 46.50 47
Japan, yen, cables .. 46.75 47
Argentina, checks ...102.00 102
Argentina, cables -101.50 101
Brazil, Rio, checks .. 27.75 27
Brazil, Rio,4cablc8 ... 28.00 28
Murks, checks . 103 1
Marks, cables . 1.04 1
CxtdTo-SUrakla. chki. 1.04
Transactions Yesterd
Summary of Stock Exchange Dealinga
(Copyright, 1980, New York Tribune Inc.)
Day Tear January 11# date.
Yeeterday. Before. ago. 1020. 1919. 1911.
Railroad ?tock* ... 101,400 109,900 131,800.6,216,400 0,432,200 6,715,600
Other stock? . 764,200 800,900 867,100 39,102,300 22,618,100 21,416,100
All stocks . 858,600 910,800 998,900 45,318,700 28,050,300 28,131,600
Yesterday. Day be. ore. Year mt?. 1920. 1919.
V. 8. government bonds 39,091,000 $8,931,000 $7,699,000 $588,116,000 $423,829,000
Railroad bonds . 1,113,000 1,064,000 1,114,000 66,314,000 64,114,000
Oiher bond. 3,661,000 2,124,000 1,341,000 76,229,000 74,528,000
AH bond? . 13,786,000 12,119,000 10,154,000 729,659,000 662,471,000
Hi. h. Low. Dir.
1920. 1920. Rate.
45'/a 34% ~
65"/4 6
1% ?
1% ?
36% ?
39 3
7434 8
128?4 105 10
613. 38% ?
14334'124% 12
54% 40% 4
88
2
2%
63%
46.4.
96%
Sales.
Advance Rurady ... 200
AJax Rubber . 900
Alaska Gold Mines... 200
Alaska J un eau . 100
Allte-Chaltncr? . 3600
Amer Bank Note.... 100
Amer Beet Sugar.... 1000
High. Low.
38% 38%
Net
ciige. Bid.
% 38%
Open
38%
75
13/4
2
41
42
81
Am Bosch Mag. 1600 113% 114% 113% 114%+ 1% 1??
American Can ....
Am Car & Foundry
Amer Cotton Oil
15% 11% .80 Am Drug Syndicate.
101% 95 6 Amer Express .
30% 18% ? Am Hide & Leather.
122 90i/2 7 Am Hide & L pr....
68 53 6 American Ice Sec pr
120!/2 87 6 Amer Int Corp.
14% 12% 1 American La France
86% 74 3 American Linseed ..
105% 82 6 American Locomo ..
30% 16% ? Amer Ship & Com...
72 56 4 Amer Smelting ....
1001/4 93% 7 Amer Smelting pr...
115% 86 8 American Snuff ....
46% 39 3 American Steel Fdry
140% 123% 7 American Sugar ...
10 Amer Sumatra Tob..
8 American Tel & Tel.
5 Amer Tobacco Sec.
7 American Woolen ..
7" American Woolen pr
Amer Writ Paper pr
American Zinc .
Zii
99
1003a
74%
165!/2
105 !/2
61%
213,4
59i/2
65.4
27/4
67/4
74%
93
85'/8
176/a
75
123/a
IO2/2
38%
49%
77
96/g
64%
1121/2
101 i/a
383/4 ?
15/a ?
50 6
54 4
23 ?
45% ?
64% 6
84 7
American Zinc pr.,
Anaconda .\.. 1600
76
137
63
103'/(
98%
28/4 -
42 4
134% 114 8
31% 17% ?
77/2 6
82% 6
10% ?
634 -
10 ?
93 10
Ann Arbor pr.
Assoc Dry Goods....
Ansoc Dry Gds 1 pr
7 Atlantic Coast Line.
6 Atch. Top & San Fo
0 Atlantic, Gulf & W I
5 Atl, Gulf & W I pr.
31/2 Baldwin Locomo Co. 51600 112
7 Baldwin Loco Co pr 200 100
Ask.
39
76
2
2
40/a
43
81
114
2900 4334 44 43 43 ? /2 43 , 43/4
3000 132% 133% 131/2 132%+ % 132/2 133
100 43 43 43 43?1 43 44%
1600 13/a 13% 13 13 ? % 12% 13
400 101 102 101 102 + 1% 100 106
21/a
99
63
94/4
13
79/4
94/a
23
62%
95
112
43
I/a 12634 128
34 86/2 87/4
1/4 9734 98'/
1/4 6634
Va 118
/a 103
43/a
19
53
5734
24
48/4
64
87/2
82
200 HO/4 HO/4 HO/4 IIO/4+ 2/4 110
2600 42% 43/4 42/2 43 - 42%
400 127/2 127/2 127
900 88/2 88/2 87
97%
57
2800 98/4 98>/2
4000 *57/2 67%
13900 11934 120
200 103 103
2000 43/4
19%
54
58
26/4
50/4
6434
8734
81%
3600
900
127 +
87 +
97%?
57 ?
117/2 118/2?
103
43/4
19
44/4
19%
65
68%
26/4
5O/4
6434
87%
82/4
3800 151/2 151/2 148
200 64?/8 64/s 64/e
II234 111'/4 112/8-4
100 100 100
300
400
200
200
4C0O
67%
26/4
48/a
643/4
8734
81/2
103- ?
44/4+ 1/4
19/4? /4
55+2
58 + 'A
26/4+ 1/4
48/a? 1
6434? 2/4
87%? %
82 ? %
I4934? 1/4 149
64/8+ 1/8 64
% 1121/s II2/4
9934 100/a
67/4
118%
104
44
19/2
58 ?
68
28
48 %
65
88
82/4
150/4
66
Baltimore & Ohio... 4900 35/4 35%
Baltimore & Ohio pr 1C0 47 47
Barrett Company
300 119/2 119/2 118/:
951,
102%
14%
10%
15
120
11/2
29/4
28%
85/2
46
134
100
104%
Beth Motors. 2800
Bethlehem, Steel.* 400
Beth Steel, Class B.. 9800
Bklyn Rop Transit.'. 300
Bkyn Rap Tr ctf s... 200
Booth fisheries . 1000
Burns Bros . 700 105/2 106
7% .2 B?tte Cop & Zinc_ 6900
22 ? Buite & Sup Copper. 1800
17 ? Caddo Oil . 1200
California Packing.. 1000
California Petroleum. 4900
74 6
2734 ?
115/4 10
62
144T.
58%
11%
27%
41%
?934
87%
47
117/j
47
6 ?
21 2
30/4 ?
4534 ?
75 7
12034 113 8
IO6/2 78 6
23/2 ?
15/3 ?
31%
33%
36/4
36/a
63
48%
52
Canadian Pacific
96 7 Case, J I, pr. 900 99 99
72 5 Central Leather _ 9100 8I/4 8134
108/a 104/a 7 Central Leather pr. 400 105 105/4
61% 45/4 4 Cerro De Pasco. 1600 48
4 Certainteed Corp ... 200 52
10 Chafldler Motors ... 8900 128
4 Chesapeake & Ohio.. 1000 561,
? Chicago & Alton....
2 Chic Great West pr.
? Chic, Mil & St Paul.
Chic, Mil & St P pr
Chic & Northwest...
Chic & Northwest pr
Chic Pneumatic Tool
Chic, R 1 & Pacific. 10700
Chile Copper . 1600
22/2 2234 21/a
82 82'2 82
87'/2 87% 86/2
133/4 1334 1334
9% 9% 9%
10/2 10% 10/2
105
10% 10/2 10
26/2 26/2 25/2
23 23/2 22
76/4 76/4 76
37/2 37% 36/2
1000 122/4 122/2 121/4 122 .+ 1/2 121
99 99 + 1/4 98
80/2 80%+ 34 8034
105 IO5/4+ /4 104
48 48 ? % 48
52 52 + 1% 62
128% 12534 126/4+ 1/a 126/4 127/4
41%
21/4
41%
40%
44%
65/2
67
87'/2
203/a
93%
13%
90
107^
31.4
233/2 189
100 96
?41/,
Baft
96
191
75
1634
78
10/2
76/4
101
25
1/2 Chino Cons Copper.
1 Coca Cola .
Colo Fuel & Iron. .
Columbia Graph . ..
Col Gas & Electric.
Consol Gas .
Cons Int Call Min.,
Continental Can . ..
Continental Candy. .
Corn Products . 16100
Corn Products pr.
Con Textile .
Crucible Steel . 13900 19834 199/2 197
39/2 ?
79 /a 7
89% 9
165 10
6 ?
16%
13
5%
28
147
15%
25
95
903/4
48
36%
19%
75%
172
345
89%
S5/4
25%
85/4
IO234
65 %
493/4
81/a
41
S8/8
84%
38/4
6234
16
90
?2/2
6134
4/4
14/a
51%
111%
84
89/8
79%
26%
88
51/2
19/2
10/2 1
3/a ?
20% ?
99 5
9/a ?
17% ?
65/8 8
85 8
33 3
21 ?
12 ?
58% 6
152% 8
225/a 12
73/2 6
69/2 6
24% ?
64% 6
92/a 7
36 ?
32 2
68/2 7
33 4
2934 ?
57% ?
30 ?
50 4
13 1
80% 7
13/a ?
50% 6
3% -
9/2 ?
?27% -
76% 6
72 7
7034 -
70 e
19% ?
831*2 ?
36/a -
13% -
Crucible Steel
Cuba Cane Sugar....
Cuba Cane Sugar pr.
Del & Hudson.
Del, Lack & West...
Denver & Rio Grande
Denver & Rio G pr. .
Dome Mines .
Dul, So Sh & Atl_
ETk Horn Coal.
Endicotl-Johnson . ..
Eric .
Erie 1st pr.
Famous Players ....
Famous Players pr..
Fisk Rubber Tire_
Freeport Texas .
Gaston Williams .. .
General Cigar .
General Electric Co. .
General Motors ....
General Motors pr. .
Gen Motors 6% deb.
General Motors ctfs.
400
3900
400
500
400
2000
1000
200
200
4900 108% 103% IO434 106/;
800
200
1600
1300
9600
2800
1000
600
800 162
20800 247
200 78
20C0
76900
14:
23%
73
88%
37
24%
14%
65%
14!
23/2
73%
89/2
38/4
24%
153/a
65/2
162/4 161
253% 245
14/a 14%? %
23% 23/4? 34
73 73 -
88/4 89%+ 1/2
363/4 ^37%+ 1%
24% 24%? %
15 -
65 + %
161 ? 1/4
10634 107
14%
65
14/a
23/4
7234
88%
37%
24/4
15
65
14/2
24
73/2
89/2
38
24/2
15/4
65/2
159% 162/2
Goodrich, B F. 7100
Goodrich, B F, pr.... 400
Granby Mining . 800
Gray Davis . 2000
Gt Northern pr. 3100
Gt North Ore subs.. 900
Greene Can Cop. 300
Gulf State Steel. 800
Hendee Mfg . 1800
Haskcll & Bark Car. 2000
Hupp Motor . 1000
Illinois Central .... 300
Int'l Agriculture. 400
Inspiration Copper... 400
Int-Cons Corp . 400
Int-Cons Corp pr.... 1400
Int Mer Marine. 7S0Q
Int Mer Marine pr.., 11200
Int Motor Tr 1st pr.. 600
Internat Paper .... 5900
Inter Paper pr stpd 100
Internat Nickel _ 3100
Internat Nickel pr.. 300
Iron Products . 1600
Kansas City South.. 200
152% 106
100
333a
48%
9134
22%
38%
47
18
32
28
96
273a
24%
66
16,
38
40%
14%
25% 2
17 ?
183% 145% 12
II2/2 98 7
64 6
39% 7
18% ?
20 ?
117/a 7
4 Kelly SpringfieM ...
8 Kelly Spring 8% pr.
2 Kennccott Copper ..
1.20 Keystone Tire .
6 Lackawanna Steel....
? Lake Eric & West pr
? Lee Rubber & Tire..
72
25
70%
92%
37%
3234
77%
38
32
6434
31%
59%
14
85
17%
53%
4
13
36V4
91%
72%
77%
74
21%
85
41 Vz
17%
78
72
25%
71/4
9234
38
34%
77%
38
32
67%
3334
60
14 .
85
17 %
63%
4
13
36%
91%
72%
773/4
74
21%
85
43
17%
78
71
24 /j
252/4+ 7% 252% 253
78
71 Vz+ 1
253/44* %
69% .7034+ 1%
92/a 92%+ %
37/4+ 1
34%+ 2%
773/4+ Vz
3734? /a
32 ? %
67+4
33%+ 2
59 ? %
13%? %
85?2
17%+ /a
5334+ Vz
3%? %
13 -
35 ? 34
S0/2+ 1%
72%+ %
77%+ 1%
74 + %
2I/4+ l/4
85 + 1/a
42%+ 1/4
17/2+ %
37%
3234
77/4
3734
32
64%
31%
68%
13%
85
17%
53%
3%
13
34%
90%
72%
76
74
21
85
41%
17%
7734
71 *
25%
70
92%
37%
33
77%
37%
32%
66%
33
58%
13%
85
17%
53%
334
13
35
90%
70
77%
74
21
83
42
17
4S00 113/4 118 II3/4 118 + 6
78
71%
25%
7034
93
38
34%
7734
37%
34
67%
34
593/8
14
87
18?
64
3%
13%
35%
903/4
73
77%
75
21/4
85
43
17%
!00
3000
13 600
8900
1000
600
3% Lehigh Valley . 200
- Lig & M Tob Co rt?. 400
2 Loews, Inc . 5200
- Loft Candy. 2000
99
28?.
32
71 Vi
213y
33
4534
15%
28
19
J'4
Lorillard, P . 200 153
6934
48
35%
3034
131
222
26
71%
5234
74%
11
31%
69%
51
38%
72%
89%
80
11%
89%
86%
110
6%
17%
73%
4734
48%
36%
14%
81%
77%
50%
5%
9%
142
41%
61%
4234
IO8/4
103%
161
21%
22?4
42%
63 7
6 ?
21 ?
61% 3
36%
35%
44
83
63
8
66%
7234
105
4% ?
14 1
64% 5
43 6
30 2/i
23% ?
10 ?
68/4 7
50% 5
38% 4
4% ?
6% -
120 S
23 ?
44 5
37 ?
71% ?
em *>
Louisv & Nashv
Mackay Cos .
Man Elevated .
Maxwell Motor Co...
Maxwell Motor 2d pr
May Depart Stores..
0 Mexican Petroleum .
2 Miami Con Coppe'r.
1.20 Middle States Oil..
4 Midvale Steel .
7 Min, St P & S St M
Mo, Kans & Texas..
Missouri Pacific ....
Montana Power ....
4 Mullins Body .
3% National Acme .
- National Aniline ....
Nat Aniline pr.
Nat Cloak &. Suit_
Nat Con & Cable....
Nat Enam &'Stpg...
National Lead ......
National Lead pr....
N R R of Mex 2d pr
Nevada Cons Corp...
New York Central...
N Y, C & St L 2d pr.
New York Dock.
N Y, N H & H.
Nor. & Southern....
Northern Pacific ...
Nova Scotia Steel...
Ohio Gas . 7600
Okla Prod & Ref... 4900
Ontario Silver. 100
Otis Elevator . 300 121
Otis 8teel . 3700 29%
Pac Gas & Electric. 300 49%
Pac Tel & Tel. 400 37%
Pan-Amer Pet .36100 89%
P&x?feme. Pet B.,_* 2900 83
99
29%
34%
72%
22%
33%
45%
15%
31
19%
153
103
68
4534
28
21%
400 103
200 *68
300 453/4
200 28
200 21%
300 119% 120
24100 179% 181
1000 22% 22%
34%
46 %
7274
9%
28%
65
43%
36%
58
85%
79
9
71%
78%
200 107% 108
200 5 % 6%
15
72
44%
35
33%
14%
78%
67%
44%
5/a
99
28%
32
71%
2134
32%
45%
15%
28
19
153
103
68
45%
28
21 Vi
99
29 + %
34%+ 3%
71%+ %
22%+ 1/4
33 + 34
45?4+ %
15%? 2
3034+ 3
19%+ %
153 + %
117% 118
98% 99%
28%
34%
71%
16
33
4534
31
19%
153'/
29
34%
72
22%
33%
46
31%
19%
154
103 ? % 102% 104
21600
1500
200
1200
6000
200
400
200
2300
200
200
900
400
200'
400
600
400
400
8900
300
3000
600
35%
46%
72%
9%
29
65
43%
36%
59%
85%
70
9
72
78%
8
15
72%
44J/4
35
33%
15
78%
57%
45%
5%
8
121
29%
49%
39%
89%
83J*
34/
45%
72%
9%
23
65
43%
36%
58
85 %
70
9
7134
77%
107%
5%
15
.72
44%
35
33
v14%
78%
56%
44%
5%
8
121
29%
49%
37%
85%
8?
%
V,
68 + 6%
4534+ 34
28 + 1
21%+ 1/a
119% 120 + 2
177 178%+ 2
22% 22% +
343/4 +
46 ?
72%+
9% +
28 ?
65 +
43%?
36%?
59%+ 1/2
85%+ %
70 + 1%
9-%
72 + 1
78%+ %
108 + 3
5%? %
15 + %
72%? %
44%? 3/a
35+2
33%+ %
15 + 1
78%? %
57%+ 1%
45 + 3-4
5/a+ %
8 - %
121 + 1
29%
49%
39%+ 2
88 -
68 71
4534 46
27% 28%
25 26
119% 120
178% 178%
22% 23
34%
45%
72%
9%
% 28
64
%%43
36%
5834
85%
65
8%
72
78%
105
5%
15
71%
46
33
33%
14%
78
56
44%
5/,
7%
122
29%
49
39
87%
34%
46
73%
934
28 Vz
65
44%
37
69
86
70
9%
73
78%
108
6
15%
71%
48
40
33%
16%
79
57%
45
5%
8
123
30
49/2
41
88
62# 83
ay in Listed Stocks
Record of Stock and Bond Average?
(Copyright, 1920, New York Tribune, Ine.)
Ranee thus
A? _ .. Yesterday.
20 Railroad ?locks . ?34.90
SO Industrial stock? . 92.83
50 Stocks . 81.66
10 Railroad bonds .,,.' 73.30
10 Industrial bonds. 89.47
5 Utility bonds . 73.48
?s5 Bonds . 7980
Day
Before.
65.20
92.50
81.58
73.17
89.50
73.63
79.79
Year
Aro.
71.50
87.27
80.96
80.31
94.85
85.84
87.23
far 1920.
High.
66.20
110.30
92.66
76,28
91.43
74.53
81.71
Low.
68.60
88.70
77.14
7V76
89.33
73.48
79.48
Rang? foil
year 1919.
Hlffh. Lew.
78.80
119.33
99.54
82.80
95.70
87.75
87.11
63.35
79.20
75.92
72.83
90.66
71.80
80.21
Hljrh. Low. Dir. Nrt ?,.
1920. 1920. Rat?. Sal?. Open. High. Low. Close, chge. Bid. As*.
431/4 40 3 Pennsylvania R R.. 4400 42% 42% 42/8 42'/8? Va *Z,,'**V*
35?4 20 ? Penn Seaboard Steel. 200 23/2 23/e M/a &Vr~ 1 22/a 24
32 23/2 ? Pcre Marquette .... 2600 29/a 29/a 29/8 29/4- 28% 29/a
42/a 34% 3 Phila Company . 5800 3734 38'/* 37/2 37%+ % 37/a 38
82% 48%? Pierce Arrow.24100 64% 67 64/2 55% + 1/a 65% 66
23|/8 15%? Pierco Oil . 4600 19 19/8 18% 18%? Va 18/a 18%
98 89 8 Pierce OH pr,. 300 93/? 93/2 93'/a 93/2+ '/a 93% 94
63% 511/4 5 Pittsburgh Coal. 700 55/a 6B/a 65!/4 65'/r- % 65 55/2
91'/a 89 6 Pittsburgh Coal pr.. 400 89/2 89V2 89/2 ?>Vz~- !4 89/a 90
29% 21 >/2? PUU & W Vlr. 200 28 28 28 28 - 27% 28
27% 16 1 Pond Creek Coal.... 200 19/4 19/4 19/4 19/4? % 1? ? 20
103/a 84 8 Pressed Steel Car .. 800 93 94/4 93 93/2- 93/4 94
117/8 109 8 Pullman Pal Car... 1600 114% 116/2 11434 115/2+ 1/a 115 116
96 74 5 Punta Alegre Sugar. 1700 80 80/a 79/2 79/2- 79/a 80
102 89/4 8 Rlwy Steel Spring.. 300 94 94 94 94 - 93 93%
22?4 17/4 1 Ray Cons Copper.... 2000 18 18% 18 18%+ l/4 18/a 19
7734 643/4 4 Reading . 4600 76 76 75 75/4? 'A 75/4 75/s
94 62/2 ? Rom Typewriter. 400 73 74 73 73+1 71 73
12434 84/8 6 Rep Iron ?S. Steel... 30600 90% 9034 88*4 89/a? /a 89/4 89/
55% 37 ? Rep Motor Truck_ 200 38 38 38 38 ? 1/a 38 40/
110 937a 5.50 Roy Dtch N Y Bhare 13100 101/4 102% 100% IOI/4? % 1011/4 101*1
77 64/a 6 Savage Arms . 200 64/2 64/2 64/2 64/z? 1/2 63/a 65
21% 13%? Saxon Motors. 4000 15/2 16/2 15/2 16 + /a 16 16/
16% 14/2 1 St Joseph Lead. 2000 16/8 16/4 16/8 16/4- 16 16!^
25% 15/4? St Lou & San Fran.. 1600?-23% 24 23% 2334? /4.23% 24
34 23/a ? St Lou & San Fr pr. 100 33 33 33 33 - 30 33
9% 6/a ? Seaboard Air Line 300 9 9 9 9 + 5V4 8% 9
18/2 12% ? Seab Air Line pr .. 400 17% 18 17% 17%+ /8 17/2 18
13 1034 1 Shattuck & Ariz ... 200 11/8 11/8 11/a 11/a? % 11/4 12
9O/4 7334 % Shell Trans Ter .... 6600 80% 81 79/a 80 + /2 80 81
4834 3434? Sinclair Oil . 29600 41% 41% 40% 41/8- 41? 41'/
E2/4 64 6 Slos-Sheff St & Ir.. 2000 71 71 70/2 70/2+ /a 70/2 71
105% 88/a 6 Southern Pacific ... 13100 96% 96% 95% 95%? /a 9534 96
26% 18 ? Southern Railroad .. 6600 24/4 24% 24 24 ? % 24 24",
58/2 50 6 Southern Railroad pr 200 57 67 57 67 + Vz 56/2 57",
66/a 50 4 Stromberg Carb .... 680O 61 62% 60% 61/4+ 1/4 61 Va 61'
115% 80/8 7 Btudcbaker .29600 8634 83/2 86/2 87/4+ 1/4 87/8 87=
137/2 100% 5 Stutz Motora . 200 12g 122 122 122 + 4 119 120
60% 41 3 Superior Steel . 300 45 45 44% 44%+ % 43 45
12/4 9/4 ? Tcnn Cop & Chen?.. 1000 10 10/8 10 10 - 10 10!
231 166/a 10 Texas Company .... 14800 184 18434 181 181%? Vt 181/a 182
193 156/a ? Texas Co 30% pd ... 200 177 177 177 177 + 1 ? ?
43% 25 ? Texas & Pacific .... 800 36% 36% 35% 35%? /8 35% 36
95/2 61 6 Tobacco Products ... 6100 65/a 65/a 633/4 64 ? % 64 64
38?4 20 ? Transcon Oil .25100 26/8 26/4 25/4 25/??? Vz 25% 25
66/2 54/a 5 Transue W Steel ... 300 58/4 58/2 58/4 68/2+ /4 58 69
88 27%? Union OiJ . 12100 33/4 34 33 33/2+ % 33/4 33
124% 110/lo Union Pacific . 2600 120/4 120/4 119/8 119/2- 119 119
C9'/4 65 4 Union Pacific pr ... 400 66 66>>4 66 66/4+ /8 66 66
148 125/2 7 United Drug . 400 134 134/2 134 134/2+ /2 134 134
63 40/2 4 United Alloy . 600 44 44/2 43/a 43/2+ Vz 43 44
204/2 176 12 United Fruit ...... 1000 187/2 188 187 187 + /2 186 188
12% 8% ? United Ry Invest ... 1600 IO/4 10% ?O/4 10%+ % IO/4 11
2934 2034 ? United Rail Invost pr 1900 25 26 26 26 + 1/4 25 26
25/a 153/4? U S Cast I P &'Fo.. 800 I6/4 16/4 16/8 16/8? Vz 16 17
7838 53% 2 US Food Prod _ 5600 63 63 62 63+1 62/2 63
116% 77/a 8 U S Ind Alcohol .. 6400 83/2 83/2 82/4 82%- 82% 83
56% 40 -i- US Realty & Imp 400 46 46 45 45 ? /4 46 ?17
96'^ 64 3 United Retail Stores 9600 70/2 71/8 70 70%+ Vz 70/4 7<
1433/4 91/4 8 US Rubber .44600 1003/4 103% 993/4 102/2+ 234 102/2 102
115/2 110 8 U S Rub 1st pr_ 500 111 111 IIO34 IIO34? 1/2 111 11?
76 61 Vz 6 US Smelt & Ref .. 300 62% 66 66 66?1 64 ?f?
1('9 921/4 5 U S Steel . 89700 9734 98 96% 97/4- 97/j 9J
11534 109% 7 US Steel pr. -300 111 111 111 111 + /a 110% IP
80% 68% 6 Utah Copper . 200 71 Vz 71 Vz 71 Vz 71/2+ '/4 71 Vz 7?
12% 9/}? Utah Sec Corp .... 1600 9/2 9/2 9/8 9/4+ /4 9 ?
57% 42 ? Vanadium Steel _ 3800 48 48% 47?/2 47/,? Vz &Vz 4J
72% 69/a 4 Va-Carolina Chem .. 400 6634 66% 66 66 - 66 'Bi
91 76 6 Va lr, Coal & Coke. 400 86 87 86 87+3 86 8!
IO/2 7 Va ? Wabash . 300 9% 9% 9% 9/j? /8 9/2 !
31 20'/a ? Wabash pr A . 80O 28 28?,4 2734 2734+ /8 273/4 Z
12% 8% ? West Maryland - 200 10% 11 10% 11 - 10% 1
119 106 7 Wesiing Air Brake. 100 109 109 109 109 + 1 108 10
55/a 48 4 Westinghouse Mfg . 2600 52 52J4 61/2 61/2+ >/a 51/a 5,
82'a 64 5 Wilson Co ...'". 200 69 69 69 69 ? 1 67 , 7
14/8 9/4? Wheeling & L E-~ 100 13 13' 12/2 12/2? /2 12% 1
66% 49 4 White Motors . 1600 54% 65/a 54% 54%+ % 64/2 5
32 22% 1 Willys Overland ... 8900 24/2 25 24/4 24/2?1- 24% 2
33 26 ? Wisconsin Central .. 100 30/2 30/2 30/2 3QJ/2- 30 3
130 120 8 Woolworth . 200 123 123 123 123 + '/4 122/2 12
95/4 67 6 Worth Pump & M.. 8100 79% 80 77 7734+ /8 77/4 7
76 69/j 6 Worth P & M pr B. 400 73 74 73 74 + 1% 73/2 7
Bid and Asked
,, _, Bid. Asked, i Bid. A<=kod,
Al Chalm pr 80% 84 I.acledo Oas... 40 43
A Ag til pr. Dl 03 L B & W pr 20 21%
Am Bnk Note 45% o?lLigg & M T. .160 li>5
A Beet S pr. 80 01 i uo pr .100 110
A H & S Ky 80 100% L-W I* 1st pr 08 J01
do 2d pr. ..110 127
Dorlllard pr.,104 106
.Mai-Kay Co* pr 64 05
Manat? Sugar. 106 112
do pr . 05 1?0
Mauhat Bcooh % 2%
Ma:.hat Shirt. 27% SO
Mar llockwoll. f,S 60%
Mar Parry_ 24 20%
.Mat. Al W.
du pr .165
Aw Can pr.. 95
A Cot Oil ?s ?
A Lias?*! pr 0:1
Am J/oco pr. 105
Am Malt & Ci 80% 33
Am Shlpbldg. - - l:1
Am Sm pr A ."1 ?;
Am ?-??mir pr. Mi ?i
Am 8ugar pr.114 117
?? ou
107
A Sum T pr S:?% X0%'Max M 1st pr r.0% 55
Am Tel A C. 48
To pr new 90
63 M?uc Pet pr.. 05
92% Mleh ?'mitral. 82
Aim Arbor .. l.?% 1?; ?MHPASSM pr. 01
100
06
A D G 1st pr 65 70 I do Ud lines
At Blr & A. S 8% M K A T pr 15
Auto Salis i'o l? 14% Mont l'ow pr 08
28'.??Morris & Es. 60
62 Miilllus liy pr 07
95 Nasli & Cliat.100
106 \at Biscuit.. 110
07 ; do pr .108
56 Nat AiiLllno pr 85
95 N C & S pr. 98
!'.' I\ K A 8 pr 99
105 NItlt M 1st i?r ?
??'-S 7% NYCASL 1st. 56
45?4 60 I do 2d pr... 43
-- 100 I.V Y J)?K?lt i.r 13
? IB'?'.V y 1, & W 85
do pr . -? 51 V? Norfolk So_ 13% 14%
Hush Torrn... ~ 100 Norf A W pr 68 71%
Cal & Ariz... 56% 61%?.\orth Am ... 56% 58
Can Siiii?h?-rn 41Vi 50 Nlag F i' pr. ? 104
Caso i I pr.. 9.S 99 Otis Kiev pr. ? 07
Cent Fdry- 18 SO lOtts Steol pr. ? 96
do pr . 80 56 |(i\vei!s Bot.... 55 56
C A S A Tel.109 114%1'aciflo Coast.. 25 50
Certain 1st prSl% ? ! do 2d Pr... 40 60
" fc Alt pr l"1* 15%Tadflo Derel.. 03
Bar Boalhiir.. 55
?!o pr ...'.. S5
Barrett Co pr.lOO
lilui Erllson... 95
Bkn Un Gas. 52
Brown Shoo.. SSV,
do pr . Or,?/
Burns firs pr.lo.:
Brunswick ... OV.
Buir It
Bulr & Sus.
00
86
100
101
50
C A E III..
pr
CSP M A O 60
do pi
90
CCCA S I, pr 03
<U A Pitts... ?
Oluett IVa pr.lOO
C A S 1st pr 50% ?"?!
do 2d pr... 40 43
Col Graph pr. S3 80
Pomp Tab Boo 46 53
Cou Cigars pr. 78% *0
Cont Can ... 78 81
do pr .100
Cont Ins Co.. 7.3
Crex Carpet... 50
Cuba Am Su.S'.'i
400
110
Doere Co pr.. 99% 103
Dot ttllson... 104 106
Dot Un lin.. ?
Diamond M..113
Durham nos... 56
do pr .100
Elkhom C pr. 33
Km Brandt. 20
Mall.. 83 S4H
9 IP Am Pot pr.175 200
0*1 iPenn I C pr.. 90 95
105 Peo G A C. 38% 39%
69% Potti Mull?... 30
SO I do 1st pr... 95
PIitco Ar pr.. 05
P F W A 0.118
Pitts Btoel pr 87
P A W Va pr 72
Pr St Car pr.102
P S O N J.. 60
Ity St Spr pr.101
Hi-adtng 2d pr 33% 35
Fiera Ty pr. .. 06 100
I do 1st pr... 95 98%
Konnselaer ...102 117
it IAS pr. 98 100%
?S L Sw ... 16% 17
106 I do pr . 2.3 2S%
100 Sears Hoc pr.110
128 S-S S A I pr 92
S P I? Sugar 200
do pr .102
101
105
113
100
124
01
72%
103
68
107
118
100%:
42 Standard Mill. 125
24 ?1
pr
90
S2% SO ?Stewart War.. 36
Endl John pr.101 102 Studehakor pr.lOO
Fed M A S. 12 13% Sup Steol pr. 100% 103
41%
100%
do pr
Fisher Body.. 110
do pr .100
Gen ?"hem_ ?
do pr . 06
Gen Cifrar Pr. 05
do pr dob. 85
35?4JT A P Id tr.233
120 ?Tldewator Oil.ISO
110 TSL A W cits 12
ISO do pr et/s.. 10
Twill City 11 T 30
do pr . ?
Underwood T.167
10O
G M A No... 6% 8%| do pr
pr . 28% 30 Un Cigar St..160
340
210
15
85
172
120
224
OSS 1st pr
HonieMake .. 51
Int Bar pr..Ill
Int Motor Tr. ?
do 2d pr... 60 0.1
Int Taper pr 75 100
Int Salt .... 67% 70
Iowa Contrai. 5 7
Jewel Tea pr. 40
Jones Toa ... 23
Kayser .7 ...105
KOFSAM pr. 52
Kelly Spr pr. 93
Kelsoy Wheel. 67
Keok ADM. 4
do pr . 20
Kresga S S..145
do pr .102% 107%
Kress A Co.. 76 ?
ao pr .100 ?
do pr .107% 140
60 U Drug 1st. pr 49% 5014
111%! do 2d pr. ..130
11?7 ?USOIPAF pr. 44 47
6.1 US impress.. ? SO
U S I Al pr. 98 99
IT S S A R pr 45% 47
Va Car Oh pr.106 107
Vulean Detln. 24 26
do pr .SS 00
Wabash pr B. 18% 20
West Md 2d pr 13 20
western I'ac.. 24% 26
60
Weut'se M 1st. 64 65
Wilson Co pr. 05 97
\V!i it I, E pr 20 21%
Willys O pr... 86% SS%
Woolworth pr.lll 114
WP A M pr A 87% 95
41
2?i
115
63
99%
30
150%
U. S. Armv Exchange Rate for
English Pound Is $3.40
From The Tribune's Washington Bureau
WASHINGTON, March 6.?Rates of
foreign exchange, fixed for the period
of March 1 to 15 ior army accounting
purposes, were announced >, to-day as
follows:
England?Sterling at $3.40 to the
pound.
France?Francs at 14.25 to the dol?
lar.
Belgium?Francs at 13.75 to the dol?
lar.
Italy?Lire at 18 to the dollar.
The official rate of the mark, begin?
ning February IG, was fixed at 14 cen?
times, or the equivalent of .0096S8
cents to the mark.
Stocks Ex-Dividend
Mar 6?Macliay Companies . 1%
Mar 6? do pfd . 1
Mar 11?National Enamel A Stamp pf 1%
Mar 9?St. Joseph Lead, % ex and.. U
Mar 10?South Porto Rloo Sugar. 6
Mar 3.0? do pi. ?
Mar Xfr??V Wt Woolworth vt.****** 1%
Worthington Pump
Earns $17.28 a
Share on Common
Report Includes No Allow?
ance for Profits on Unad?
justed War Contracts; Big
Drop in Total Billings
The annual report of the Worthing?
ton Pump and Machinery Company for
the year ended December 31, last, dis?
closed net income after all charges
and Federal taxes of $3,257,064. which,
after allowing for the annual dividend
requirements on Class A and Class B
preferred stocks, was equivalent to
$17.28 a share, $100 par, earned on the
$12,992,143 common stock, against $3,
137,775, or $16.37 a share, in 1918.
Total billing last year amounted to
$32,074,592, a falling off from the year
before of $11,368,893. This decline,
however, was nearly offset by tho de?
cline in operating costs, depreciation,
etc, of $8,889,232, the total deduction
being placed at $27,169,118. Manufac?
turing profits aggregated $4,905,474, to
which income from other sources of
$378,631 was added, bringing the total
to $5,284,105, a decline of $2,346,581
from the preceding year. Federal tax
reserve was greatly reduced during tho
year, being placed at $2,000,000, or $2,
000,000 less than in 1918. Holders of
the preferred A stock received $391,
?198 in dividends, while holders of the
preferred B stock shared $619,300,
leaving a $2,246,266 surplus. Previous
balance of $3,606,472 was added to that
amount, making* a $5,852,738 total.
After $1,500,000 had been transferred
to the reserves, profit and loss surplus
aggregated $4,352,738.
In his report to stockholders C. P.
Coleman, president, said: "Certain con?
tracts for the manufacture of war ma?
terials are not as yet adjusted and
only the definitely determined earn?
ings in respect to these have been in?
cluded in the earnings for 1919. These
accounts are now ready for final ad?
justment and it is the expectation that
definite settlement may be arrived at
within a reasonable time.
"At the organization of tho corpora?
tion the management concluded that a
general reserve of $5,000,000 should be
created out of the income for the pur?
pose of providing for any unforseen
depreciation of investments and securi?
ties for such other purposes as might
from time to time appear as appro?
priate to the board of directors. This
has now been accomplished by trans?
ferring on December 31,1919, $1,500,000
out of the income for that year to ?the
general reserve."
--.-/
Treasury Certificates Retired
Out of $644,000,000 Treasury certifi?
cates of indebtedness sold in the Sec?
ond Federal Reserve District to mature
on March 15 next in anticipation of
taxes payments, $591,000,000 are still
outstanding, it was said at the Re?
serve Bank here yesterday. The re?
mainder has been retired through ex?
changes. It has been predicted that
taxes on March 15 in this district would
yield $500,000,000, and from the coun?
try as a whole the income on the first
tax instalment day is expected to be
near $1,000,000,000.
? ???*-#-?
Bank of France
PARIS. March 5.?The weekl\r*state
ment of the Bank of France shows the
following changes from the preceding
week in francs:
Gold. 5,582,154,000 Inc. 569,000
Silver. 251,630.000 Inc. 26,951
Notes In cir?
culation... 37,935,767,000 Inc. 47,095,505
Sen. deposit??.. 3,146,665,000 Dec.22.460.347
Bills dlsc'd... 2,427,113,000 Inc. 12,461,821
Advance?._ 1,532.655.000 lue. 2,249,847
New advances to state amounted to
S0O>00O,00Q franc?*; .
In Wall Street
Speculation Dites Bard
Speculation is certainly making
strenuous efforts to fight off the anaes?
thetic dose the Federal Reserve Board
is supposed to be administering, inis
is as true of the commodity markets
as it is of securities. It is hard to per?
suade the average business man, who
sees big business and bigger P???
awaiting the harvest, that he should
refrain from grabbing in. A fur mer?
chant walked into a large commercial
bank yesterday. "I want a loan of $7o,
000," he told tho president of the in?
stitution. "I can take that $75,000 and
swing $1,000,000 worth of business this
year." He was refused the loan on
the ground that the bank in extending
credit wo-ld be giving aid and comfort
to tho eneniy of low livng costs.
"What Do You Think of the Market?"
A member of a large wire house t
"This is not the real move in stocks.
I don't think stocks can go far in the
way of an advance until money is more
plentiful. However, I don't think we
will see much lower prices than we
have already experienced. I ma.y not
bo a bull, but I certainly am not a bear
on stock values."
Motors Move Ahead
Motor shares, like the tire stocks,
were a strong group in yesterday's
market. Further short covering ap
! p?ared in this part of the list. Gen?
eral Motors common got up to 233V?,
an advance from a low of 245. The
certificates for the new common stock
were traded in for the first time within
a range of 24% and 25%, closing at
the high price, up a fraction from the
closing level on the Curb the ?jay be?
fore. Chandler Motors came through
with the increase in the dividend from
an annual basis of $8 to $10 as pre?
dicted and the stock was strong. The
j president of the company, after the
I meeting of the directors, said that ship
I ments for the first two months of this
year exceeded those for the first live
I months of 1919. Met earnings, h'
stated, were in excess of $1,500,000 fo
the two months. "Our financial statt,
ment as ' of February 28," he saia,
'showed cash as in excess of $6,000,000.
Our shipping schedule calls for 19,000
cars up to July 1."
Worthington Pump
Most of the annual reports published
recently have had a way of falling far
below the highly glowing figures put
out for stock market purposes a few
months ago. An example of this ten?
dency was supplied by the Worthington
Pump report issued yesterday, cover?
ing 1919 operations. It was a good re?
port, all things considered, but far be?
low the unofficial estimates. It showed
$17.28 a share earned on the common
stock. Before deductions for taxe*, the
surplus available for the stock was
equivalent to around $32 a share. The
'? Street was" told, via stock market tip
j sters, in December and again in Janu
I ary, that Worthington Pump earned
: something like $60 to $30 a share on
its stock before taxes.
The Gold Story
In stock m ark at circles there was some
skepticism yesterday about the story
that Great Britain and France are pre
! paring to ship $250,000,000 in gold to the
! United States. Those who -were in
i clined to believe it were not so sure,
i however, that it would be bullish on
: the general situation. It was pointed
? out that for those countries to send
' such a huge amount of gold here would
: be to weaken their own position and
??add to our troubles here from hitch
| prices. Lacking confirmation, the
further sharp rise in sterling exchange
was accepted as indicative of some im?
portant international financial opera?
tion under way.
The Market for Municipals
February's swift decline in ? general
securities put a crimp in the marketing
of state and municipal issues. Muni?
cipal bonds at the et\d of the month
were selling at the lowest prices on
record, the issues of many of the larger
cities offering a tax-exempt return on
the investment so lar<re as to compel
attention. "The supply of new bonds
of counties, cities and towns," "The
Bond Buyer" says, "fell off in Febru?
ary, largely because of the sudden drop
in values. In most cases the law re?
quires a municipality to sell its bonds
for not less Than par and accrued in
I tefest. This restriction has recently
; made it impossible for many issues to
? be sold until the interest rate could
I be raised, which requires reauthoriza
I tion, readvertising, and often, resub
: mission to voters." February offerings
| of new issues of state and municipal
bonds aggregated a par value of $39,
i 368,456, compared with $86,694,726 in
! January.
Tire Stocks Advance
New favorites came to the front in the
j stock market yesterday. One of the
I strongest groups?and gains here were
! well held?was that comprising the rub
i ber and tire stocks. United States Rub
I ber, Kelly-Springfield Tire, B. F. Good
I rich and Keystone were led forth into
I the speculative arena with consider
! able flourish on the published report
that on Monday tire prices will be ad?
vanced by the leading manufacturers
anywhere from 10 per cent on fabric
i tires to as high as 20 per cent on cord
! tires. This was not exactly new, for
the Street has heard since tho begin?
ning of the year that a rise in prices
was imminent. The tire manufacturers
have argued that they were entitled to
an increase in the price of their prod?
uct, because of larger labor costs and
j higher prices for some of the materials
entering into the manufacture of tires,
' principally cotton.
The Shortage of Fuel OH
The United States Shipping Board
has been letting v>ut a yowl in Wash?
ington because of its inability to get
bids on more than 1,500,000 barrels out
of 24,000,000 barrels of fuel oil needed
for the year beginning April 1 next.
Oil trade 'men say the government is
largely to blame for not taking a
stronger stand with regard to Mexico's
recent interference with American oil
drilling operations in that country. It
was pointed out yesterday that had
American companies not been stopped
in their drilling a few months ago new
production would have been available
in sufficient volume to meet the current
market demands for fuel oil. While
temporary permits were given the
American companies a month ago to
drill new wells, it will require several
months, it is stated, to get new pro?
duction onto the market. Meanwhile
fuel oil prices have risen in striking
fashion.
As It Should Be
"The market is behaving," said ono
observer yesterday, "just as it must
and should, instead of trying, as it has
several times before recently, to take
account of, good news in a wild specu?
lation, only to be brought to a sudden
stop by the Reserve Board tightening
the money reins again."
Dividends
Regular Declarations
Stock
Rate holders of
Period Payable Record
Am Ther Bot Co.?6.00 ? Apr 15 Apr 6
Chan?! Mot Car.. 2.50 Q - -?
?J Cane Sur pf.. 1% Q Apr 1 Mar 15
Fam Pl-L, Corp.. 2.00 Q Apr 1 Mar 16
Oenl Electric_ 2.00 Q Apr 1 Mar 20
IJarnsdall Corp.. 2.50 Q - -
Knd-Johns Corp.. 1.25 Q Apr 1 Mario
do pf. 1.75 Q Apr 1 Mar 16
Manat? Sug pf... ] Ai, Q Apr 1 Mario
May Dept St pf. 1%, Q Apr 1 Mar 16
Moro Trust Co... 2.00 I Apr 1 Mar 16
Phil Traction- 4, S-A Apr 1 Mar 10
3 H Krasa <b Co. 1 Q Apr 1 Mar 20
do Ft^.JLiu*? X% Q A?r I Mar |9
Curb Stocks
Advance in an
Active Session
Tire and Motor Shares Lead
Recovery, Which Puts
Price? at New High Levels
on the Current Movement
Stocks on the curb enjoyed another
active ?trading session in which new
high prices were made by a number of
issues for the movement, after which
there was a tendency to ease off as
the result of profit-taking saleB and re?
newed pressure from the professional
bears. '
Tiro and motor share? were active
following a similar development ir
these groups on the exchange. Cleve?
land Auto advanced to 62 on the sal?
of 500 shares. Continental Motors, ir
which the principal market is Chicago
sold on the curb for the first time ir
many weeks, 600 shares at 11%.
General Asphalt common stock wai
again in active demand from the shorts
rallying to 89. American Safety Razo:
was stronger at 10%. Submarine Boa
came to the front in the afternoon wit]
an advance to 17, the highest prie
since January prior to the declaratioi
of a dividend on the stock.
Oil shares developed a number o
strong spots. The so-called Homer oil
were helped by the telegraphic advice
from Shreveport that the Standard Oi
Companv of Louisiana had complete
its Guy Oakes No. 6 well in Claiborn
Parish. The well came in with a
initial production of 20,000 barrel
from the deen sand at 2,078 feet.
Industrials
Sale. Open. Hit'h. Low. La?
2400 *Acme Coal .. 1% 1% 1% V
600 .Aetna Exp ..8 8% 8 8
?300 ?Aluminum Mfg 29% 29% 29 29
900 *Amer Candy. . 9 9 8% 8
1800 Amer Saf Raz 10% 10% 10 10'
i 11000 Armour Leath. 16% 16% 16% 16
600 Austin Nichols 23% 24 23% 24
300 "Er-Am Ch Cp. 8 8 8 8
1700 *Br-A Tob coup 18 18% 17% 18
1300 ?do rights ..7 7 7 7
200 *do reg right? 6% 6% 6% 6
1000 ?Car Light & P 2% 2% 2% 2
1000 Cen Teresa Sug 7 7% 7 7
500 ?Cleveland Auto 60 62 60 62
500?Cont Motors.. 11% 11% 11% 11
7500?Cub-A Sug w i 41% 42 39% 40
8000 ?Gen Asphalt.. 88 89% 87 89
1500 ?Goldwyn Pict 23 23% 23 23
700 Grape-Ola .... 1% 1% 1% 1
1200 do pf . 1% lit 1% 1
100 ?Hall Signal.. 5 5 6 5
j 1000 Indian Packing 14 14% 13% 13
1000 ?Kay Co Gas.. 2 2 1% 2
900 Keystone Sole. 13% 13% 13 13
800 ?Lib McN & L 24% 26. 24% 25
200 ?Line Mo Cl A 45 45 45 45
1 600 ?Loco (n) wi.. 20 20 19 20
! 1600 Marconi of Am 5% 5% 5% 5
: 1000 Montgom Ward 35 35 34% 34
800 *>'at Leather. . 14 14% 14 14
. 1500 ?Orpheum Cir. 31% 32 31 31
300 No Am P & P. 5% 5% 5% 5
100 Patchogue-Ply. 41 41 4l 41
: 4000 Perfection Tire 4% 4% 4 4
700 ?Pressman T&R 1% 1% 1% 1
: 1000 ?Radio Co w i 2% 3 2% 3
1100 ?do pf w i.. 2% 3 2% 3
100 ?Rainier Mo... 37% 37% 37% 3'
? 2500 ?Republic Rub. 4% 5 4% 4
400 ?Root & Vand. 47 47 45 4'
1 13<^0^ Submarine Bt. 15% 17 14% 1'
200 ?Stand Gas & E 18 IS 18 U
I 100 ?do pf.38 38 38 85
650 *U S H Sp T. 32 32 31% 35
? 1500 U S Light & H 3 3 3 S
1000 ?Union Carbide 65% 67 65% 6(
| 500 ?Un Pic Pr Cp 12 12% 12 1?
1000 Un Prof Shar. 2% 2% 2% '.
7300 ?Un R St Cndy 14% 14% 14% 1
12000 U S Steamship 3% 3% 3% .'
200 ?Warren Bros. 60 60 60 6<
1200 ?William Pavies 49% 40% 39% 41
400 ?Willys 1st pf 95% 96 95% 91
1 Standard Oils
Sales. Open. H'gh. Low. L"
1500 ?Anglo-Am Oil 27 28 27 2'
10 ?Stand O (Cal) ? 315 315 31;
60 ?Stand O (N J) ?, 716 708 70!
100 ?Stand O (N Y) ? 403 398 39!
Other Oils
: Sale?. Open. Hiph. Low. Lt
600 ?Allen Oil .... 1% J.% 1%
700 ?Alliance O&R. 16 16% 16 1'
20000 ?Allied Oil ... ft % ft
1000 ?Amalg Roy .. % &8 ^
6000 f Anna B Wy O 64 64 CO 6
1200 *Ark Nati Gas. 29 30 29 3
500 ?Associated Oil .1% 1% 1%
600 ?Bell Pet . 1% 1% 1%
6701) ?Boon? Oil ... 4% 4% 4%
2200 ?Bost-Mex Oi!. 2 2% 2
1000 *tBor,t>Wyo Oil 1% lft 1%
2O0 ?Brazos Oil C. 18 18 18 1
200 ?Buoyrun Co .. 23 23 23 2
1500 ?Carib Svnd .. 32 32 29% 3
200 ?Circle OH_ 3% 3% 3%
. 600 Cor.tl Ref _ 4 4 4
220(1 ?Cosden & Co. 8% 8% 8%
200 ?Cashing Pet. . 2% 2% 2%
18000 "Dominion Oil. 18% 19% 17% 1
TOO ?Durjuesne Oil. C% 7 6%
1500 ?Elk Basin Pet 8% 8% 8%
15i?i Engineers Pet. 1% 1% 1%
3200 ?Earner Oil & G % % %
600'?Federal Oil ..3% 4 3%
4000 ?Gilliland Oil.. 43% 44 43% 4
500 ?do pf. 96% 97 96% h
3200 ?Glenrock Oil.. 3% 4% 3%
1200 ?Guffey-Gil O.. 30 30 29% ?
i 400 ?Gum Cove Oil 2% 2% 2
500 Home P of Den 3 3 3
I 300 ?Houston Oil..107 110 107 11
; 1500 ?Hudson Oil .. ft ft ft
300 ?Indiahoma O. 7% 7% 7%
i 1700 ?Interna Pet ..72 72 69 .
I 3900 ?Invincible Oil. 34 35 33 ?
3000 ?Isld Oil & Tr 4% 4% 4%
' 7000 Livingston Oil. 1% 1% 1%
600 ?Lone Star G.. 35 35% 35 I
1200 Maprna Oil. 5% 5% 5%
2800 ?Manhat Oil... 24 24 20 !
300 ?Merritt Oil C. 19 19 19
i 500 Met Pet. 3 3 2%
| 1200 ?Mexico Oil... 1% 1% 1%
' 2465 ?Midwest .Ref. .155 159 155 1!
500 ?Midwest-T Oil % % %
200 N Am O&R. 3% 3% 3%
i 2000 ?Ohio Ranger.. % % %
500 O O & G (nw) 5% 5% 5%
ap0*P P (x) 100% 38 39 88 !
1200 ?Prod & Ref.. 8 8% 8
100 ?Ranger Gulf.. 22 22 22
400 ?Red Rock Oil. 1 1 1
200 ?Rick Tex Co. 1% 1% 1%
10000 ?Ryan Pet.- 3% 3% 3
200tSalt Crk Prod 50 50 49%
700 Seq O&R.... ft ft ft
' 2900?Skelly Oil-11% 11% 11%
9000 ?Simms Pet... 37% 87% 36
500 So Sts Con Cp 1% 1% 1%
2200 Spencer Pet C. 20% 22 20%
1500 ?Stanton Oil... % % %
900 Steiner Oil_ 9 9 7
2100 ?Superior OH.. 18% 18% Js%
1200 ?Swift Inter... 41 43 41
K'O ?Tex Chief Oil 27 27 27
8000 ?Texas Co w i. 47% 47% 4G i ?
T00Tex-Ken Oil... 3% 3% 3%
400 T & P C & O. 87 89 " 8? "
1000Tex-R P & R. 1% \U -i%
10200 ?Texon O & L. 1 1 .
25000 ?TropiAl Oil.. 21% 21% 20%
j 5900 ?Un Tex Pet.. 1 1^ 3
500 ?Victoria OU.. 1% 1% i%
1100 ?Vulcan Oil... 6% 7 6.1
3200 Wayland O & G 4% 5 4%
5000 ?White OU_30% 30% 29%
Mining
I Sale.. Open. High. Low. ]
700 Alaska-Br C M 1% 1% 1%
100 ?America Min. Ill
I 12000 ?Am Tin & T. % ft 54
| 3000 *tAtlanta .... 2% 2% 2%
9300?t?elcherD(ap) 15 15 13
! 5700 *tBelcherE(?p) 16 16 14
I 1100 Big Ledge ... ft JL a?
I 3500 ?tBooth . 6 6 6
? S500 f Bost & Mont. 62 64 62
j 3200 ?tCaledonia ...36 36 35
200 Canada Copper 1ft 1ft 1A
2000 ?Candelaria Sil % 3i U
100 ?Carson Hill G 21% 22 21%
2000 ?tCashboy _ 8 8 8
100 ?Cons Vir Silv 4% 4% 4%
800 Cresson Cons G 1% 2 1%
1800 ?0e Beer Con M 39% 41 39%
22500 Divide Ext (api % ?M t?
i 1000 El Salvador Sil 2% 2% 2%
2800 ?Eureka Cr M. 1% 1% 1%
14500 ?tEureka Holly ? % 1?
2100 ?Forty-nine M. 1% 1% 1
300?Gadsden Cop. 1% 1% 1%
15750 ?tGold Zone D 29 31 29
200 ?Golden Gate.. 1% 1% 1%
8500 ?tGoldfleld Cons 13% 15 13%
7200 ?tGoldfleld Dev 11 11 l<)
2500 ?tGoldfleld Mer 4 4 4
2500 ?tGreat Bend.. 3 3 3
2500 Hecla Mining.. 4% 4? 4%
500 ?Hond Am Syn 19 19% 19
; 2200 ?tJim Butler.. 23 24 23
I 1500tJumbo Exten. 7% 8 7%
i 2500?tKnox Divide. 8 8 7
! 3500 Louisiana CoVia % ,?, %
I 1500?tMacNam Mg % U 2
2400 ?Magma Chief. % u u
2500*tMarsh Mng. . 16 16 15
! 1000*Motherl Cop... 5 5 5
100 ?Nat Tin Corp. 9 9 9
I 3500 ?Nevada Ophir 35 38 35
! 1000 Nipissing M Co 11 Hu 11
800 Ophir SU M Co 1% 1% 1%
1600 Prince Con ... 2 fl S
100 Band M Ltd... M ?8 M
?I A Searching Teal of Earning,
Weslinghouse
Air Braise
One of the most interest??,
and best indications of the
fundamental value of the
stock of the Westinghoaie
Air Brake Company is the
cash and stock dividend rec
ord of the Company for the
past eleven years?1908 to
1918 inclusive. This showi
an annual average of 36.06%
or $18.03 per share in ctajj
dividends and rash equivalent
of stock dividends.
Details regarding this old
established American corpo?
ration and its present out?
look are contained in our re?
cent circular E-13, which will
be mailed upon request
A. A. Housman & Co.
f New Tcrk Sttxk Excbaml
New Ycrk Cotton Exch?X
N. V. Ct-rre- * Sugai ^J
iigfmjmmf ? New York Produce KxriT^
Chicago Board of Trad?.
Ae?t<X'i;ite Members of:
V Liverpool Cotton Ass'a.
20 Broad Street, New York
Branch Offlce?25 Weit S3d St.
New York ?City
Liberty Building, V.Ms.
Sales. Open. Hi(th. Low La?*
4000 ?Red Warrior. % *s U >
8300 Roper-Gr M Co A >, \ 1
jnQSenetai Copper. 14*4 16 14ft \c/
700 ?SUv Dollar M A A ? ,
2300 Silv Kg of Ar. (J U H il
2500 ?tSilv Kg Div. 7 7 7 f*
15700 ?tSilver Pick.. 10 21 19 i0
J 00O Stand Silv Ld. A f. x " ,
2700 ?tSuccess Mg.. f 6 514 cu
2300 ?Sutherld Div.. f. 5. 5 " -, '
1550 ?Tono Be?mont 2^ 2V<? 2U Mi
6300 ?Tono Divide.. ?f? 2^, 2H ?2
230 Tono Exten ... 2% 2% 2-r? il
210 ?Tono Mng ... '?Va 2% 2?, S?
750 United Eastern S7S 3 if <vl it;
2000 *tU S Cont M. 7 8 7 ?'
6700 ?tVict D fa p) 9 10 9 ?
1500 tWaahn G Qtz. 98 100 98 IM
1700 tWest End Con 1% lft 174 14
3500 tWh Caps Mng 12 12 12 l?7
2500 Wilbert Mng.. 7 7 6 fjj
Bonds
Sal?? (000 omitted). Open. Hlijrh. Low.Up
$10 ?Allied Packers 6s 7? 76V, 76 Mu
S ?Belg Gov 6s 1921 97'4 97^ 97*4 y;?,
10 ?do 6s 1925- P:.% 95<H 95H ?ju?
5 ?CCC&StL 6s'29 8?V? 86% 86U ?S^
30 ?Gen Eleo 6s-1940 98?4 ^??i 98H 9s4
2 ?Gov of S wed 6s.. 92 92 92' 9*
25 *Int Rap Tr 7s.. 6S% 69% fi6U 66?4
15 ?Rus Gov 5^8.. 34% 34? 33 13
15 ?do 6%s. 36% 36% 35>4 S5'^
?Unlisted. tSells cents per share.
Commodities
Cotton
The market was Irregular yesterday as?
the reactionary sentiment which develop?!
on the advance above 59c for March eot
tracts on Thursday remained very much
in evidence. Rather a sharp decline fros
an opening advance was checked by a rt
newalv of near month covering, how??:,
and after Belling off from S6.95o to S5.5??
May closed at 35.82c. or 20 points n?
higher. Tho general market closed ateadf
at an advance of 3 to 28 points on actlv?
old crop months, while later deliver!?
were net unrhansed to 22 points lower.
The market opened steady at an ad
.varice of 15 to 2:', points, n* traders wer?
inclined to disregard the big br^ak !s
Liverpool which they attributed largely to
the advance In sterling exchange. Opin?
ing prices were far ont of !!n? with th?
English market, howe .-er. and attract?*
heavy arbitrage selling, pa tlcularly 0!
July, under which prices Boon weakened.
Opening advances were lost In consequent,
with the activo montlis selling about 10 to
20 points net lower during the middle of
the morning, but the market showed mors
resistance to pressure than font* of the
earlier sellers anticipated, and after th?
close abroad prices turned steadier. Trad?
ing was quiet during the early afternoon,
becoming a little more active toward ?n
close, when there was another flurry p!
covering by March shorts, who sent the
price up to 39.1S, or 2S points from Thura
day's closing figures.
Reports of unfavorable weather for ne?
crop work failed to croate any important
demand for new crop positions, which
were relatively quiet und easy during the
entire ?'.ay. Liverpool cables s.iid the i'
cline there was due to higher exehanf?
and freer Continental selling In tho ab?
sence of any Important tra>! demand. Bo
ports that the discount on Jow mlddliai
cotton In one of the Eastern belt marketf
had been sharply Increased, encourait??!
the early selling movement, us It seeni"
to increase the possibility of shipment!
here for delivery on contract. Th?: later
act-ion of March, however, certainly failed
to suggest any increased pressure from
the spot department.. .Southern spot mar?
kets, as officially reported, wera uncbanij?.
to 25 points higher, generally unchanged
with a slightly better volume of business.
particularly in the relatively lower East?
ern belt market. Middling quotations is
the South now rango from 39c to ?2.25c.
The local spot mark, t was steady and
25 points higher, at 40.30c for middling.
Xo sales were reported.
The range of prices lollows:
Thnri
Open. High. Low. Close. close
Mar... S9.09 39.18 38.8<? 3S.18 Ss.9?
Mav... 35.90 35.95 35.52 35.-2 gia6.85 35.t3
July... 33.12 33.15 82.78 S 2. 9 3 3- 32.94 f MJ
Aug....-31 <5 ?!??
Sept... --3120 31;'
Oct_ 80.50 30.50 S0.1C 30.28?80.29 80.H
Dec.'.*.'. 29.70 29.75 29.38 29?480J?.*! VJl
Jan_ 29.30 2?.30 28.84 88.88 &2S.90 I8._J
Eeb_ 28.70 28.70 28.70 28.70 *??"
Into-Sight Statement
Weekly cotton statistics, with compu?
lsons follow: , .
This ^
yoar. '5*6? r*
Into sight for week... 193,788 160.??'
Into Bight for season... 9,797.243 ?.".'?w
Visible all kinds. ?5,292.045 B.O&S. :
Visible American . 4,703,045 ?'WHS
Decrease in gen. vis. . 9*.895 ??'iii
Decrease visible Amor. 87,896 **.??
Spinners' takings Am. .., en
for week ...... 281.684 l?.??
Takings fur season to ??r.?ni
date .?,807,073 7.081.9?
Southern Spot Markets ? Fort, Wo8rto
steady, unchanged at 41.76c; 8al*f.,!,?
bales. Galveston steady, ?5 points twm
at 42c: sales 822 bales. Ne? yrl ?T;
nominal, unchanged at 40.50c; sales ? ?
bales. Mobile nominal, unehang? a ??
39c; sales nil. Savannah steaiiy. uncnani'?
at 39.50c; Bales 573 bales. A^?j?
steady, unchanged at 40c. salee l??
bales. Memphis steady, unchanged at .><??
sales 2,650 bales. St. Louis steady,,m
changed at 39.50c: sale? nil. fl?u,,j
quiet, unchanged at -10.25c: **-Xe?...
bales. Little Rock steady, anchan???? Jj
39c; sales 4 02 bales. Oallas steady. ?
points higher at 42.26c; sale? 8al D?-?
Montgomery firm, unchanged at ???" '
sales 18 bales.
Cotton Statistics
Yesterday Last Wk. lafX Jr;
Port receipts.. 25.365 23.661 ???;,
Exports . 21.949 U-4S8 . ?? Hi
Exports season.4.45S.917 4.331.613 ?.<????",
N. Y. Stocks... 51.347 49,495 WE
Port Stocks_1,423,873 1,443,558 ?.?J'Uj
Inter receipts.. 14,729 8,495 ??**,
Inter shipm'ts. 14,939 11,575 ??';:
N. Y. arrivals.. 2,367 2.769 ?"
JLIrerpool Cables.?Spot cotton ?J?'*..*'
40 points decline on the basis of I?1'
for middling. Sales 4,000 bales. Amen?
3.000. Imports 16.000; American ?.?J;
Futures opened easy, 15 to 26 ? ;f
Closed unsettled at a net decline oi ?* '
87 points. March 26?i6d, May 25.69d. <K
24.58d, October 22.50. December -l"*
Manchester: Yarns quiet; cloths firm.
Cereal?
Wh??t-rrlces in the market ye?t?r4?
were steady, Minneapolis showing (>
change for the day, altliough earl?.?.
the session prices there were h'6h*r. f...
sas City was unchanged to 3 cents M?^;,
Exporters were again in the "iarl{ia. ?i?
were said to have taken about WWr
bushels. A peculiar fe.it -r- ' ^^
nation at the present tlm* la tn*1 w ,
cash wheat is apparent!? tlgh? """.j'1.?;
?iJ?erlng. mMls are rnak:ng strenuous
forts to sell flour, and recently ??>ra* "?t
vere cuts have been made dest>it? ?
fact that wheat has been advancing. *
supposition la that mills in many **g
have large quantities of wheat ??**_,
and while they have sold flour in **??
caaes as much as sixty days ahead, ?>.;.
are having great difficulty In getim? asar
Ping directions from bu>ers. and as ?K
wheat Is comma: in and their *!eVfv,;r
are full they must find m outlet totJ??:t
flour. Reports on tlie r.ew winter *p
crop continue rather unfavorable. aJ,D? ,3
some slight improvement wa? note??
Nebraska. "The Modern Miller" s-Ud ?'
the condition of tho winter wheat w '
Southwest is low, owing to lack oi ?r^
covering during the winter and ? ' '
of molaturo, as well as damags W *^.
? i ?.-'?- "
Continued on pace ??xU** J^

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New-York tribune. [volume], March 06, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924