New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 10, 1920, Image 18

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New-York tribune. [volume], March 10, 1920, Page 18, Image 18
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 10 March 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-03-10/ed-1/seq-18/>

Newspaper Page Text

SECURITIlfiS OFFERED AND WANTED
JJ(.Rice,Jr.&Co. Will Sell
J00 Air Rednetlcn
10 Alumlntim Co. of AmM.""'
100 Amer. Chlelo Com. ? Pfd.
100 Amer. Cj-anatviid PM.
?00 Amer. DWt. Tel. of N. J.
100 Amer. Piano Pfd.
17 Amer. Thermna Bottle
10 Anxeo ('ompany
SOAtrliiKon & E?*t Bridge.
60 Atliis Port. Oment Com.
100 Borrirn* Co. Com. ft Pfd.
25 Central Cnlon Troat
B0 Continentai Invurnnce
ta l>el.. I.aek. ft Weat. Coal
85 E. XV. Blfea Com.
100 Elacmniin Magneto Pfd.
IS First National Bank
lOOOenpral tiaking Com.
60 llumble OU & Reflnlng
47 International Pulp Pfd.
lOO.Ioliet & CliicitKo
10O Klrby Lnmher Com. ft Pfd.
S0 l.ehigh Valley Coal Salea
200 Mnhoning Coal 11. lt.
2r. Meeh. * Mrtals "Rights"
lOONat'l lee ft Coal 1st Pfd.
100 N. V. Stnte Rfa, Com.
no Midland Securities
50 Mil. K.lee. Ry. & l.t. Pfd.
100 Nat. Ire ft Coal lat Pfd.
100 Nat. Otl of N. J. Pfd.
4S Safety Car. Ileat ft l.lght
S0 Singer Manufaelnrlng
100 Tenn. Coal ft Coke
* 60 Texas Pae. Coal ft OU
60 I nlt Theatre Kq. Com. ft Pfd.
23 Wlnchester Co. Com.
J.K.Rlce, Jr. & Co.WlHBuy
|j 100 Air Kednetton
2." Amer. Chirlr Com.
i 100 Amer. Cyanamld Pfd.
" ; 200 Amer. OKI. Tel. of N. .1.
?."> Amer. Murli. & Foundry
100 Amer. Piano Coin. ft Pfd.
50 Cnseln Co. of Amer.
26 Cbllda Re?taaran( Pfd.
"Olifizons Niitlotuil Ita'ik
2<>0 Cripple Creek Cent. Com.
tn >' av. ni' s ?-.??I.
AOEmpire Stl. & Ir. Com. ft Pfd.
" ? ?.<?. (?.,,;,. ft Pfd.
200 C.eo. P. Ide Co.
50 t?reut N irthern Pnper
:>.-> lncrrs,.|| ???uil r,.....
10 l.cliiph Valley Coal Salea
?oo Kerr Navitrntion
100 Kirby 1 umher Com. ft Pfd.
300 Me< all Corp. Com.
25 Nat. Bank of Commerce
60 National I.lherty Ins.
100 National Sugar Ittllnlng
20 N?\v Jeraey Zinc
100 N. Y. Stiiie K.vs. Com. & Pfd.
100 Niles-Bement-Pond Com.
50 North iiiver Insurance
2." Northern See. Stubs
ico ft|d Dominion 1 and
100 Pocnhontaa Fuel Com.
50 Singer Maiinfacturing
50 Texas Pnd. Coal & Oil
60 1 id. water OU
60 l . S. Fire Insnrorce
60 Cnlt Theatre K<j. Com. & Pfd.
COVictor Tal king Maohine
lOUWaid Baktng Com. ft Pfd.
J.M.MIce9Jr.&Co.
Phonea 4000 to 4010 John. 36 Wall'St., N. Y.
AIR ^REDCCTION
AMERICAN < IHCI.E
ATLANTIC I.OBOS PETROLEUM
CLNTKAI. AGCIRRE SLGAR
CHILD3 COMMON
FAJARDO SCGAR
(.1 ANTANAMO SCGAR
OlT.F OIL CORPORATION
LONE STAR GAS
MIDLAND SECI KIT1ES
NBW ENGLAND FI EL OIL
PENN. COAL & COKE
PORT I.OBOS PETROLEUM
SAVANNAH SI GAR
STEItN BROS. PREFERRED
TEXAS PACIFIC COAL & OIL
OUNHAMfclp
43 Exchange Place New York
T;lephonrs 8300-16 Hanover
National Fuel Gas Co.
Capital Stock - - $18,495,000 j
Surplus.13,600,000 j
Surplus 73% of Capital
Average of over 20% earned j
on Capital stock for past 5 years.
Dividends 10% per annum, :
payable quarterly.
Price on application.
Jblsphoi ic: Rcci-cr 272J
Eorden Co., Com. & Pfd.
City Investiag, Com. & Pfd.
Emp. St. & Iron, Com. & Pf.
Carib Trading
Kiely & Horlon
40 Wall St., N. Y. Phone John 6330
>
New Jersey Zinc
Singer Manufacturing
American Piano
rREOERIC H. HATCH & CO.
Eatahliahed 1HSH
Plione Reetor e.'iiu. 74 B'way, N>w Yarfc
WIRE COXXECTIOXS
Boaton. Chicago. Phllattelphla and Montreal.
ilinchfield Coal
MrartoM. lachciibmch. & Ox
O1IOV00 DETRGrr PHILADELPHIA PITTSBURaa
Clash m Banking Authority
Mississippi Bill Crcates an Un
usual Situation
A clash between Federal and state
authority in Mississippi now exists as
a result of the signing by the Gov?
ernor of a bill requiring banks within
the state to charge a premium for the
collection of checks from other states.
According to information that reached
"ivhil Street yesterday, the bill also
places notaries under tho obligation of
refusing to protest such checks unless
a premium for collection has been
paid.
This law, it was said at the loca!
Federal Reserve Bank, directly inter
feres with the poticy of the Federa!
Reserve system of having checks col
ected at par in nearly all parts of
:he country. It is believed that the*
Mississippi law conflicts with provi?
sions relating to this matter of the
Federal Reserve act and interpreta
tions of its meaning by the Attorney
General. It is expected that the na?
tional banks in Mississippi will ignore
the new legislation, but the state banks
which are members of the Federal Re?
serve system face a dilemma.
^^^
* Miscellaneous Markets
Public Utillty Sccarlt!en
_, , Bid Asked
Amer Hirrit A Traetlon com.. 188 19.-.
do pfd . gSV.
Artiroir'nck Klcc Power corrl.. 11
do pfd. 75
Amer c.<s A Electrle com_ 119
do pfd .*. 8S
American Power & Llcht com 65
do pfd. 69
Amer Publlo xntUttea com.... 7
do pfd. 23
Amerlf)R.. Wat?>rworks Bleotrle. 8
Am W W A EJ partlclpatlng- pf 8
American W W A B lst pfd^. 47
Carollna Power A Light com.. 34
Cltlea Servlco com. 890
do pfd . 71
do Bankers Certlfleates.... 40
do 7 p c, eertes B, 1966. 160
do 7 p c, series C, 1966. 100
Colorailo Power com. 11
do pfd . 90
Commonwcalth Pr, RyAL com 17
do pfd . 37
87
i Denvei- Ons A KIpc gen
| Electrle Bond & Share pfd . .
! Bmplre Plstrlct Electrle pfd. 66
1 Federal Light A Tractlon com 6
do pfd . 43
! Gas A Blectrlc Securities com 300
do pfd . 80
| Northern Ohio Blectrlc com. ?
do pfd . ?
[Northern Ontarlo L & P com 10
do pfd . 66
Northern States Power com... 47
do pfd . x..
Pacific Oas A Blectrlo pfd... 83
Republlc Ry & Light Co com. 15
<!o pfd .'. 49
Southern Calif Edlson com.. 88
do pfd . 99
Standard Oas A Electrle com 17
do pfd . 37
Tennessee Ry, L. A P com.... 1
do pfd . 7
United Light & Rys com. 23
do lst pfd . 63
Western Power com. 17
do pfd . 67
Bonds
Appalach . Power lst 5s. 60
Cincinnati Gas A Elec 5s, '56. . 80
Col Gas & Elec 6s, '27. 79
Col Power, '63 . 78
Dallas Elec Bs, '22. 90%
East Texas Elec 6s, '42. 75
91
14.
79
122
40
60
72
18
27
4
7
63
87
400
7a
43
108
18
95
20
40
93
90
65
7
47
400
85
20
65
14
60
61
81!
85
17
5:1
89
103
19
39
3
9
26
66
19
6'J
70
87
81
do 7s. '21
99
El Paso Blec col 6s. 79
Great West Power 6s, "46.
Midwest Util 6s, '26.
Miss River Power lst 6s.
North Ont Light A Power 6s.
North States Power 6s, '26...
Sugar Stocks
Bid. Asked.
79
82
100
83
81
90
73
69
87*
Card-Am.. 18
do pref. 70
C Agruirre. 84
Fajardo ..139
j Gt West..400
do pref.115
! Guanta'mo. 75
, Mat-Am .. 10
22
80
87
113
420
ns
80
15
Bid. Asked.
Mnt-Am pf 80 70
MichiKan.. 11% 12>4
National .155 159
N'i Niqueo.225 ?
S Cecelia..ll2
do pref. 75
Savannah.
I do pref.
41
115
82
43
90
Chemical Stocks
] Am Cyan. 25
do pref. 52
; By-Prod .. 93
i Cassin Co. 45
|Dow Ch...230
Du P C p. 81,
i Fed Chem. 100
| do pref. ?
; Grazelli . .155
[ do pref. 99
30 iHook Elec. 65 70
57 1 Uo pref. 65 70
99 Ky Solvay. 80 110
55 Mec Co p. 91 96
? (Merrimac. 83Vs 87V
9V4lMulford Co 53 56
105 INisg Alk p' 95 100
99 ISemet C..155 1G5
175 Solv Poe. .180 ?
100 )
Tobacco Stocks
Conley Foil.250
G W Holmes.160
do pref. . 97
J S Young.. 127
do pref... 90
MacA & F.150
325
170
101
130
102
100
Por R-A T.130
R J Rey A.520
do ser B.I20
do pref. 105
Weyra-B ..160
do pref. 97
136
540
440
107
108
101
Steel and Ordnance Stocks
Am Brass.207 214 |East Steel. 37
162
89
120
430
68
205
100
110
Atlas Pw.l5E
do pref. 86
Bab & W.117
Bliss, E W.375
do pref. 62
Can F&F.195
Carb Stl.. 90
do 1 pf.100
do 2d rf 70
Colts A... 54
D P Pow.300
57
310
Emp S & I 25
do pref. 70
?Here P..200
*do pref 98
Niles B-P.107
do pref. 98
Scov Mfjr.390
Thom Iron 30
Win Cor..400
Woodward. 35
39
35
75
210
102
111
101
415
35
45
?Ex dividend.
Miscellaneous Stocks
Am Chicle 73
do pref. 74
Am Leath. 56
do pref. 91
Am Mfg. .165
do pref. 87]_
Am M&F.100
Am Typ F 42
A D T NJ 25
A W c pf 9.i'2
Atlas P C 70
BB&-S 1 p 80
do 2d pf 65
Bor C Mk.109
Bush T pf 72
Celluloid .150
Childs Co. 85
do pref. 95
City Inves 68
Col E Sy.750
Crk W pf. 96
D L & W.157
Draper C.140
F K lst pf 95
Int Sil pf. f.5
Lirr.a L pf 90
70
93
1,0
90
46
35
98%
90
75
111
77
155
90
100
85(1
101
165
143
100
100
95
130
Nat Cash. 120
N J Zwst.274 278
N Co 1 pf.lOlUj 104V
O'Neill pf. 98 99%
Phelps D.230
Phil J Cor 54
do pref. 86
P & W pf. 95
R Reis & C 16
do prpf. 80
Ry Bak P.130
do pref. 86
Singer Mg.158
S L IM&S 13
Stoll S pf.100
S D F pf.102
Stern B p.103
T&PC&On. 84
Valvol pf.102
V Raalt In. 40
do pref. 80
W C Kerr. 50
do pref. 77
W & B pf.100
Yale A 'f .260
250
60
90
20
86
135
89
163
47
105
1034
107
88
104
45
85
83
105
New York Bank Stocks
America .. .590
Atlantic .. .215
Am Exch...295
Battery ... .205
Bowery _420
Bryant P...150
Bway Cent.K'O
Bronx Nat. 150
Butch & D. 35
Chase.430
Chat & P..300
Chelsea Ex.125
Chemical .. .580
Citz Nat...255
City .375
Coal A I...245
Colonial .. .350
Commerce
Columbia . .175
Corn Exch..450
j Cosmop'tan.110
j Com'cial E.. 415
i Com'wealth.221
! Cuba .170
I East River..160
! Fifth Nat. .160
I Fifth Ave. .900
! First Nat.. .930
Foreign T B. 85
160
160
4 40
310
590
GlOGarfleld N..230
?IGotham _200
305 I Green wich .275
215|Harriman ..360
?|Hanover ...820
160 industrial ..205
Im A Trad.550
*Irving Nat.385
Liberty _450
Lincoln ... .275
Manhat Co. .250
Mech & M..400
Metrop'tan .310
265/Mutual _490
385|Merchants ..230
New Neth. .200
N Y N B A.460
Park .730
Pacific .... 135
Produce Ex.375
Public .345
Seabrard .. .650
Second ....400
State .210
?|23d Ward.. 150
170|!;n States..170
850 Union Ex...l75
960i\V'chester A.200
9,VYorkvi!!e ..375
Trust and Security Companies
228 233
460
230
180
Alliance ... 80
i'Am Trust. ?
Am Surety. 73
Bankers ...360
Bond A M.220
Bklyn T Co.'.OO
Cent Union.390
Columbia ..335
Oommercial 150
i Empire Tr. .300
I F.ouitahle . .284
, Farm I, A T.425
; Franklin . .240
- Fulton ...
| Fidelity .. .
j Guaranty .
' Hamilton .
: Hudson T. .155
i K ngs Co...640
Law Mtge.. 115
250
230
365
90
78
370
230
515
400
345
160
290
435
25(1
260
210
375
Lawyers T. .122
Lincoln l'r.. 175
Manufac'ers.205
Mercantile .310
MeU-opol .. .295
Mtge Bond.. 87
MutTof W.105
N'at Surety. 205
!N Y Title. 135
N York T.,625
N Y LI&T.725
PeopIe8 ....275
Realty Aeso.105
Title G A T.375
Un StatcsN830
IT S M A T.405
U S T Guar 80
Westcne3t.er.130
W & BTAM.165
240
215
380
840
580
395
480
285
425
360
240
210
480
755
700
425
185
i28
.tSee New York Title and Mortgage.
Insurance Companies
Am Alliance.260 300|Great Am..265'
?j Hanover ... 30
325!Home .530
78|Nat Liberty.170
655 Niagara ...230
SOjStuyvesant. 50
City of N Y.175
Con'nwlth. .300
Continental. 72
Fid A Phoe.620
Franklin .. 85
Globe A R.SOO
305
93
125
212
145
745
115
385
860
415,
85 j
140;
175 1
275
560
260
76
Standard Oil Stocks
Pld
Anirlo-Amerloan OU Co. Ltd.. 28
jAtlantlo Reflnlng Co. 1635
:., ,io l'f ?.??. 113
Horne-Sorymser Co. 425
j Huckeye Plps. T.lnc .' 92
I Chesebrough Mfg Co Cons_ 230
i do pf . 10(5
! Contliu-ntnl OU Go. r.50
: {-?'< si ? nt Piti- Unc Co.. . . 33
; Cumberland Plpe I.lne Co_ 135
Eureka Pipe Line Co. l:;.S
j Oalena Slenal Oil Co. pt\ new. 95
do pf, old. <-,?
Asked 1
28 14 !
1686
113% :
440
94
245
109
600
::-t
145
143
lllinois Plpo Line Co. 367
Indiana Pipe l.lne Co. 17
Intrnjt'l Petrol Co Ltd. 61
National Transit Co. "9
New York Transit Co. 1S2
isorthern Plpo Un* Co... 100
jOhlo OU Co. 360
I Penn-Xlpx Fuel Co. =..;
Pra ile Oil & Oas Co. 650
I Pralrle Plpe Hne Co.240
Solar ReMnlng Co . 340
t Southern Plpe l.lne Co. 14S
South Penn OU Co. 836
Southwest Penn Plpe Linea... 87
Standard OU Co of California. 328
Standard OU Co of indHna.. 750
Standard OU Co of Kanaas Rio
Standard Oil Co of Kcntucky. 410
Standard OU Co of Nebmska 495
Statulard Oil Co of New Jersey 7So
do pf . 1 j ?,
Standard Ol! Co of New York. 4 53
St .11 l.mt oi! Co uf Ohio.>(>U
do pf . jp?
Sw 111 .<-.? FIm-h Co. 95
T'nlon Tank Car Co. ' 105
do pf. 100
Vacuum OU Co. 410
Washington OU Co . 37
Miscellaneous OU Companies
_ . IUd. Asked.
Atlantic Lobos Oil Co, com... 60 (0
_ d? Pf ????. 115 U0
Cosden A Co. 814 9
Blk Basln Petroleum Co_ 9% 10
Houston Oil Co, com. 107 110
102
C8
172
100
71
31
188
104
880
60
670
250
360
153
345
!>0
332
770
630
450
:>i5
7 so
113% 114'4
IK
458
110
100
130
101
425
42
Bid. Aaked.
130
425
20 Vi
IS4
CO
?*?
6%
43
Tmperlal OU Co. Ltd. J10
Magnolla, Petroleum Co. 406
Merrltt Oil Corporation. 20%
Mldweat Reflnlng Co_..... 162
Northwest Oil Co. 40
Produeera & Reflners com.... 8%
Sapulpa Reflnlng Co. 6
Cosden & Co, new. 44
New York City Bonds
Securlty. rate. maturlty. Bid. Aak. Yteld.
4.08
4.68
4.61
4.09
4-71
4.71
4.71
4.73
4.72
4.72
4.72
4.73
.4.75
4.61
4.66
4.66
Inter 4%a. 11)67. 95?
do 4 Via. 1965. 95'
do 4Vi?, 1963. 95>
do 4Via. 1957._85'
do 4%s. 19J1. 90
do 4%a, 1964. 90
do 4V4a. 1962. 90
do 4 VJa, 1960. 90
do 4%a, 1960. 90
2? <??? >$??. ??% 87V*
do 4a, 1968. 86% 9714
do 4a. 1957. RfiVi 87 Vi
Reg 4s. 1965-'5?. 9514 87
92%
80
80
4.65
4.65
do 4a. 1936. 90
Inter 3Via, 1954. 77
Coupon 3%a, 1954. 77
Re* 3%s, 1960-1964 Ino... 4.85
do SVia, 1940-1960 inc 4.85
e5,, ami C0UD (aerlai)
4%a, 1919-1930 Inc. 4.85 ? ?
Reg and coup (aerlai)
<VJa, 1919-1331 Ino_ 4.86 ? ?
Reg and coup (aerlai)
4%s. 1919-1932 Inc_ 4.86 ? ?
New York State Bonds
Issued ln coupon and regtatered form
Jiot Interchangeabte. Coupon oonds reg
laterable.
Canal Imp 4%a, 1964_103V4 105
Illghway Imp 4 % a, 1963.103 V4 105
Canal Imp 4 Via. 1965_ 99 100V4
I High Im? 4%s, 1965. 99 100%
| "?rge Can Ter. 4H?, 1945 99 100%
1 High Imp 4a, 1967. 95 97
Cnnal Imp 4%s. 1966. 95 '.'7
High Imp 4a, 1960-'62 ino 96 1 97
do 4a, 1958. 96 97
Canal Imp 4a, 1960-'62 Ino 95 97
Bar Can Ter 4a. 1942 &'46 95 ? ?
Federal Farm Loan Bonds
4%s, 1939 op 1924. 97 98
4 Via. 1938 op 1923. 96 % 98
Ea, 1938 op 1923. 99V; jeoVi
4Vja. 1937 op 1922. 96% 98
4.26
4.26
4.24
4.24
4.24
4.16
4.15
4.16
4.16
4.16
Short Term Securities
Sectirlty, Rate, Duo. Bid. Aak.
Am Cotton Oil 6a 1924... 96 90%
Am Tol & Tel 6a, 1922.. 94% 96 Vi
do 6a. 1924...-. 94 94%
Am Thrend 6a, 1928. 99% 100%
Am Tobaeco 7a 1920.100% 100%
do 7a 1921 .100% 101%
do 7a 1022.101 101%
do 7s 1923 .101% 101%
Anaconda Cop 6a 1929... 94% 95%
Armour & Co con 6s 1920
1924 .100 101
Beth Steel Corp 7a, 1022. 99% 100
do 7a, 1923. 94% 100%
Can Paclflo Ry 6a, 1924.. 04% 84%
Cent Argen Ry 6a, 1927.. 80 83
C. B * Q (Joint) 4a, 1921 93% 94
C C C A St L Ca, 1929... 86% 87%
C-Am Sug lat ln 6a, 1921. 99% 100%
Cudahy Pack 7a, 1923.... 99% 100%
D & H R H 6a, 1920. ... 99 99%
Fed Sug R Co, 6a, 192* .. 95% 97
Oen Blectrio 6a, 1920.... 99% 100%
Ot Northern Ry 6a. 1920. 98% 98%
Gulf Oil Corp 6a. 1921_ 97% 98%
do 6s, 1922. 97Vi 99
do 6a, 1923. 97% 99
Hocklng Val R R 6a, 1924. 92 95
Inter R T conv 7a, 1921. 66 69
Jacob Dold Pack 7a, 19gd. 99% 100%
do 7s, 1921. 93% 101
do 7a, 1922...,. 99% 101%
do 7s, 1923. 99% 101%
Kan City Ter Ry 6a, 1923. 97 Vi 98 Vi
Kerrn Cop Corp 7s, 1930.. 96 Vi 97%
L Gaa L 1st & ref 7b. 1929 95 96
Liggett & M Tob 6s. 1921 98 Vi 98%
Moltno Plow 7a, 1920._99% 101
do 7s, 1921. 99% 101%
do 7a, 1922. 99% 101%
do 7a, 1923. 99% 101%
do 7s, 1924. 99% 101%
N Y Central 6s, 1920. 99% 99%
Philadelphia 6a, 1322.... 94 35%
Penna 4%s?1921. 96% 97%
Proc & Ganiblo 7a, 1921.. 100 Vi 101
do 7h, 1922.100% 101Vi
clo 7a, 1323.101'/j 102%
Pub S C N J conv 7a. 1922 85% 87%
R J Reynolda Tob 6a, 1922 98 98%
Southern Ry 6s, 1922.... 04 94%
St P II D guar 6%s, 1928 96 97%
Swift & Co 6s, 1921. 98% 99
The W I Sug F C 7s, 1929. 94 98
Utah See. Corp 6a, 1922.. 84% 86%
Tleld.
6.95
8.15
7.75
6.85
6.00
6.10
?J!6
6.40
0.65
Markets in Other Cities
Baltimore
Sales. Open. High. Low. Laat.
26 Atlantic Pet. . . 3% 3% 3% 3%
10 Com Cred com 42 42 42 42
ISOCoaden . 8% 9% 8% 9%
100 dopf. 4% 4% 4% 4%
1200 Celestlno .2.05 2.10 2.05 2.10
100 Con Power. . . 97'4 97% 97% 97%
10 Con Coal. 80 80 80 80
35 Davison Chem. 3C 36 36 36
31 Houston Oil pf. 82% 82% 82 82%
26 fomw Edlson..106% 106% 106% 106%
1250 Cont Motor... 12 12% 12 12
15 Deero pf.100% 100% 100% 100%
200 Piam Match..118 119 118 119
20 Hol St L Sug. 16% 16% 16% 16%
50 Hupp . 14% 14% 14% 14%
175 Hartman .88% 89 88% 89
35 Caao Plow_ 16 16 16 16
60 do 2d pf- 75 76 73 73
100 Llncisay Light. 6% 6% 6% 6%
4200 I.lbby . 27% 28% 27% 28
2400 Mont Ward... 34% 34% 33% 33%
25 do pf.106% 106% 106% 106H
100 Mldweat Utl pf 40 10 40 40
145Mltchell . 37% 39% 37% 39V4
2200 Nat Leather.. 14 14% 14 14 V*
120 Orpheum - 32% 32% 32 32
lOQuak Oats....2a5 255 255 255
190 do pf. 94 94% 94 94%
3700 Reo Motor- 25% 26% 25% "0%
800 Sears Roebuc.k>229 % 232 229 230
475 Shaw . 6S 68 66% 67
2000 Stow Warner... 42 42% 42 42
25 Stew Mfg. 46 46 46 46
10 Standard G pf. 39 39 39 39
4800 Swift Int. 46 46% 44% 45*4
1800 Swift & Co.,.125 127 125 1'6V4
2000 Thompaon-60 56 60 61
lOOTemptor pf... 42% 42% 42 V4 42 V4
8000 Un Carblde... 73 73% 71 71*?
187 Un Paperboard 22 23 28 21
600 United I W... 89 69 68 58
Sales. Open. High. Low. Last.
700Waldorf . 20 20% 20 20%
900 West Knlttlng. 21% 22 21 % 21%
400 Wahl . 38% 38% 38 38%
130 Wilson pf. 97 97 96 97
100 Wrigley . 77 77 77 77
Bonds
81000 C C Ry lst 6s. 70 70 70 70
2000Com Ed lst 6s. 86% 86% 86% 86%
Detroit
600Charcoal I pf. 5 ' 6% ti 6%
100 Columbia Sug. 19% 19% 19% 19%
1-100 Cont Motor .. 12% 12% 12 12
275 Ford of Can.. 440 460 425 428
600 Mlchlgan Sug. 11% 11% 11% 11%
2200Noble OAG pf.1.68 1.60 1.67 1.60
5900 Pack Mot Car. 28 28% 25% 25%
200 do pf . 49 49 49 49
4400 Reo Motor Car 27 27% 26% 26%
50 Lincoln Motor. 48 48 43 48
Philadelphia
301 Am Stores Co. 46 46% 45% 46%
20 do, lst pf . . 93 93 93 93
4 Am Rys pf... 58 68 68 68
8 Alliance Ins.ur 22 22 22 22
16 lirill . 4G 46 46 48
ISCambrla Iron. 40 40 40 40
930 Elec Stor Bat.118% 121 118% 120%
225 Cen Asphalt . 93 93 93 93 '
100 Gen As'phlt pf.140 140 140 140
3467 Lake Sup Corp 19% 20% 19% 20
86 Lehlgh Nav . . 62 62 62 62
452 Phil Co 6% pf 33% 34 33 34
237Phila Elec ... 26 25 24% 25
10 Phila & West. 5 r> 5 5
620 Phil Kap T. . 23 23 23 23
60 Tonopah Uel.. 2A 2-fV 2-rV 2,SK
2474 1. nit Oas lmp. 48% 48% 46% 46%
1 WestmI'd Coal 75 75 75 75'
Bonds
$1000 Am G & El 5s 79 79 79 79
4000 Bald Loc lst 5s 96 96 96 90
6000 L Sup Inc 6s.. 60 60 60 60
1000 Leh V gen 4%s 78% 78% 78% 78%
1000 Market St El 4s 79 79 79 79
400? Ph Co Con 0s st 77 77 77 77
25000 Head gen 4s.. 79% 79% 79% 79%
3000 W N Y A Pa 4s. 63 63 63 63
3000 Phlla El lst 6s 90% 90% 90% 90%
Pittsburgh
26 Am W Glass M.123% 123% 123% 123%
1730 Arkansas Gas. 31% 31% 30^i 30%
220 Barnsdall - 50 50 49% 49-%
lOOCarbo Hydro.. 2 2 2 ?>
90 do pf. 374 37^ 3% 3?4
260Ouffey Gill.... 31 31 30% 31
190 Ind Urew pf.. 13 13 13 13
100 Kay Co Oas.. 1% 1% 1T4 iti
100 La Belle Iron.108 108 108 108
13boLone Star Gas 36% 37% 36% 36%
945 Marland Ref.. 6% 6 5% 6%
1 ?Ifl'8 '-, & Heat 60 60% 59% 69%
20 Nat Flreproof. 7% 7 Vi 7 Vi 7%
16o do pt. I414 14a uu -,.,3*
340 Ohio Fuel Oil. 28 29 ^8 29
1035 Ohio F Supply 61% r>3 61% 62
Jn o V V?a'. {'7'* B7V4 57% 57%
460 Oklahoma Gas 41% 42% 41^ 422
6680 1-itts Jerome.. 12 12 II "'*
3400 Pgh Mt Shasta 60 50 60
Submarine Boat
Earns $2.69 a Share
Company Loses Money on Build?
ing Submersibles for the
Government
Surplus earnings cubject to Federal
taxes of the Submarine Boat Corpora?
tion subaidiaries, including the Elec
tric Boat Company and the Electric
Dynamic Company, in 1919, totaled
$2,063,561, equivalent to $2.69 a share
on the 765,810 shares of no par value
stock. These figures were arrived at,
according to the annual report issued
yesterday, after charging off $88,681.
894 for operating costs, $1,024,967 for
expenses ant! ordinary taxes, $1,547 -
-30b on Russian rubles and other Rus'
sian accounts, $1,386,827 for deprecia
tion, inventory aJjustment and con
tingent reserve, und $712,731 for in
terest, discount and other income.
Gross earnings last year were $93,C31,
824. No comparison is made with 1918
because of the fact that in that year
separate reports were made by the
parent company and its subsidiaries
Reviewing last year's operations
Henry R. Carse, president of the Sub?
marine Boat Corporation, said the prin?
cipal work of the company had been
the construction at Newark Bay Ship?
yard of standardized steel cargo ships
for the Emergency Fleet Corporation.
During the year there were completed
and dehvered eighty-eight of such ves
sels of 5,350 tons deadweight carrying
capacity, and proportionate progress
made on the balance of the contract
for 150 vessels.
"We are preparing to build other
standardized steel vessels of different
dimenKions," said Mr. Carse, "as we
believe a strong demand for merchant
flhips will continue for several'years.
Negotiations are now in progress for
the sale of a large number of these
vessels abroad. The work of building
submarine boats for the United States
government has been conducted at a
loss during the year on the old fixed
price contracts owing to increases in
wages ar.d materials since those con?
tracts were taken, but that work has
been practically completed, and the
drain on our resources will ston and
proper ndjus'mcnts may reimburse us
No additional orders have been received
for submarine boats. We expect. how?
ever, this business will be large in the
future years."
Thomas Cochran, of J. P. Morgan &
Co. was elected a director at the an?
nual meeting yesterday.
?
Canadian Mine Output
Sets a High Record
QUEBEC, March 9.?A record value
of $20,701,005 for mineral production
in Canada was reached in 1919, ac?
cording to the annual report of the
Quebec Bureau of Minea of the De?
partment of Colonization, Mines and
Fisherics to-day. The total was nearly
$2,000,000 more than that for 1918
About one-half of the total was re?
ceived for asbestos, of which Quebec
mines 6upply 85 per cent of the world's
output. Other mineral products were
chromite, copper ores, magnesite, mica,
zinc and lead ores and an aprpeciable
amount of gold and silver.
^iFiT*n.w M> Atterholt, formerly assoclated
S..,h th?. new Stock Exchanjre nrm of
wilson, Cranmer & Co.. has become altll
lated with the sales department of Bchorb
Ballou & Co.. of Denver. CoL
U. S. Treasury to
Cut Indebtedness
Over$500,000,000
Maturing Certificates and
War Finance Corporation
Notes To Be Retired; Be?
lieve New Issue Will Sell
Tha United States Treasury ls ex?
pected to reduce its indebtedness this
month by more than $500,000,000, and
this contraction, some bankers believe,
will to some extent relievo tho preBent
strain on tho money market. The
Treasury's new offering, in unlimited
amount, of 4% per cent certificates, the
terms of which the Secretary of the
Treasury yesterday made public
through the Federal Reserve Bank here,
is not expected to exceed $400,000,000,
nnd may be closer to $300,000 000.
To otrset this new issue of one-year
certificates of indebtedness, tho Treas?
ury will rctire, on March 15, approxi?
mately $85,000,000 of maturing certifi?
cates, and it is expected that $125,
000,000 of notes of the War Finance
Corporation will be paid off on April 1
next, their date of maturity. This cut
ting down of the Treasury's borrow
ings, those associated with the Treas?
ury believe, will add to the nttractive
ness of the new offering, and to some
extent counteract the adverse effect of
tho 4% per cent rate, which, some
bnnkers maintain, is out of line with
the present money situation, partieu?
larly since the Federal Reserve Bank
charges 5 per cent for advances nnd
rediscounts sccured by certificates of
indebtedness.
Expect Good Demand
Despite the fairly general preference
among bankers for a 5 per cent rate,
the Treasury nnticipates no difficulty
in placing the certificates at the lower
rate. Officials at Washington, in argu
ing for the lower rates, contend that
the certificates, with their tax exempt
and other privileges, are really worth
hlA to 5Ms per cent to corporations.
Moreover, it developed at the confer?
ence between members of. the former
Liberty Loan Committee, which is com
posed of the principal bankers in the
city, and R. C. Leffingwell, First As?
sistant Secretary of the Treasury, on
Monday, that the Treasury was opposed
to an open market for certificates of in?
debtedness, pre erring instead to place
them at par through the banks. The dis?
tribution of the recent issue3 was con
sidered eminently satisfactory by the
Treasury, it is understood, as three
quarters of those outstanding in this
district evcntually got into the hands
of the investors.
Despite the attitude of the Treasury,
several leading investment houses have
for at least a fortnight been dcaling
in certificates of indebtedness and
what was tantamount to an open mar?
ket came into being. Some of the
outstanding 4U. per cent certificates
sold below par?at 99%. ^
Among acceptance dealers rhe view
was expressed that in a backhanded
way the Treasury, in putting out 4%
per cent certificates, was helping the
acceptance market, because acceptances
yield a much higher return.
According to the formal account at
the local Federal Reserve Bank, "the
Secretary of the Treasury is announc
ing to-day a new issue of United States
certificates of indebtedness acceptable
at their maturity March 15, 1921, in
payment of Federal income and profits
taxes. The certificates are known as
Series T M?1921, are dated March 15,
1920, and bear interest at the rate of
4?i per cent.
Forms of Payment
"Qualified depositaries will be per
mitted to make payment by book credit
for certificates allotted to them and
their customers, as usual. Treasury
certificates of indebtedness of anv and
all teries maturing on March 15, 1929,
and pursuant to an arrangement be?
tween the Treasury and the War Fi?
nance Corporation, bonds of that cor?
poration maturing April 1, 1920, with
unmatured coupons attached, will be
accepted at par with an adjustment of
accrued interest in pavment for any i
certificates of the Series T M?19*>1
now offered, which shall be subscribed
for and allotted.
"Applications are now being received
by the Federal Reserve Bank of New
York as fiscal agent of the United
Mates, but the - right is reserved to
clo?e the subscriptions at any time
without notice and to allot less than
the amount of certificates applied for."
Commodities
Cotton
...,T?e markpt was unsettled yesterdav
v ??" ?arljr advance, followed b 7
ae ona of some 40 to 50 points on the
frome3fiP4?IlV0n,8- ,,May c?^ac?s so?d off
a net deoi.n^neJai ?,lBt?closln* 8teady at
a net decline of 2 to 36 pointa. July and
October were relatlvely firm, but later de
llveriea showed tha maximum loss at the
, ae-"wi"1* Perhapa to prospects for bet
teJ" weather and Increased acreage
I ho market opened steady at a decline
of 7 points to an advance of 12 pointa with
U lowV?rnthnrelatlV;ely easy '" rSptTnie
to lower Livorpool cables. LlverDool
bought at the opening, while there was
buy n* 0f May against domestic trade
calllng and prices worked up right after
nigrnei on the active positions. Tho de
mand was not general, however and this
bulge which carried most of the active
monthe Into new high ground for thi
'""r;,'",?"1- Pm,et rea11^ and aellln'g for
reaction. Pricea turned easier In oonse
aomneCei4 T^'T *??}? "et ?"??" of
aome 14 to 32 points ra lied several Dointa
Just before the close on covering and the
strone showing of foreign exehang".
A prominent Southern authorliv est!
l"?-(nnnl?,ta! S"lnlnB for the seaaon at IV
126,000 balea and says Indlcatlona point
s?.?nnnnc?ease of ,J P^ cont in acreage.
Such an increase would mean an acreage
about equal to th.t of 1918, which mo
duced approximately 11,900,000 bales of
ni cotton. according to the reporta of the
< enaus Bureau. The yield per acre that
season was small, and with a better grow
lng season such an acreage might Z
duce a much largor crop. Private cabhU
said there had been some selling Jn Uver?
pool on these acreage tiguros, but they did
not seem to omer very largoly lnto the
course of pricea here during the day. ^
Ihe ocal spot market was quiet and 25
polhta lower, at 40.75 for mlddlinE. upland
No sales were reported ' ' j
The range uf pricea toilowa:
M fc Open. High! Low. riose^^.ose8 I
March .33.05 39.25 38.95 39.01? ?_ 3912
May... 36.25 36.45 35.92 36.02@36.04 3620 '
July... 33.30 33.68 33.28 3 3 10 ft; n 41 1 ' '!
?ct. 30.S0 31.00 30.60 30:70@3071 3080 ?
Dec... 30.20 30.21 29.76 20.^2%tU\ 3008 '
Jan.... 29.05 29.60 29.30 29.30@29.32 L'9 45
Southern Spot Markets?Baltimore norn- ;
Inal, unchanged at 40.25c; sales nil Aue
uata steady, unchanged at 40c; sales 3 100 ;
bales. Galveaton qulet, unchanged at
4J.2ncr sales. 366 bales. New Orlwn.
steady, unchanged at 40.50c; salos V?0'j
bales. Moblle nomlnal, unchanged at \<i,.
sales, nll. Savannah steady, unchanged at
40c; aalea 1.024 bales. Charleaton ateady
unchanged at 40c; sales, nll. Norfolk
qulet. unchanged at 39c; sales, 1.276 balea
M( mphis steady. unchanged at 30 -,0e'?
sales. 3 900 bales. St. l.ouis steady" un?
changed at 39.50c; salos, nil Houston
ateady, unchanged at 40.26c; sales 1106
bales. Little rtock steady, unchanred at
392oc; sales, 640 bales. Dallas ateady 35
points lower at 42.15c; sales. 818 bales j
COTTON STATISTICS
Last Laat ;
_ A , Teaterday Weak Year !
Port recelpta .. 27,041 20.010 16 086
Exports . 6.522 18,477 4"V& ;
Exporta, aeaaon. 4,558.332 4,403,789 3 079's92
New York stocks 51,323 49,443 ' 87*571
Port atocka ....1,364,321 1.410,160 1.353:090 :
Interlor receipts 13.320 17,461 1" 589 :
do shlpments 12.876 11,349 loV>6
N. Y. arrivals.. 1,100 3,534 2]o92 :
Liverpool Cables?Spot cotton steady at
13 points advance on the basis of 2'i 07d
for mlddllng. Sales, 3,000 balea (2,000 balea
American). Imports, 1,000 bales (tion.
Ameriqan). Futures opened steady at 4 to :
U points advance. Closed barely steadv '
at lo to 36 points decline. March 26 52d
May, 25.45d; July, 24.46d; October,' 22'50d;
Dtcember. 21.65d. Manchester: Yarna qulet
and unchanged; cloths qulet.
Cereals
Wheat?The market waa unchanged yes?
terday, and while the flgurea on the farm
reaervea publlahed on Monday were
larger than antlcipated, there waa a con!
tlnued abaence of presBure. and it waa
difflcult to make purehaws, A featunr
of the government report wa? that tne
bulk of the holdlngs on the farmii were
ln the soft winter wheat states. In tn?
three Northwestern spring wheat states
the total holdlngs were 28,000,000, com?
pared with 81,000,000 last year, but ln
Knnsas. which Is a hard winter wheat
state, the flgures were 30,000,000, com?
pared with 4.000,000 a year ago. This
would make it appear that the Southwest
has Htlll a large amount of hard whent
on tho farms, while, furthermore, lt whk
said that there are large quantities In
country elevators whleh are owned by
Northwestern mills. The apparent inten
tlon on tho part of Julius narnes. wheat
director, to sell the 6,000,000 barrels of
flour held by the Orain Corporation to
Europe on long credlts ls expected to re
lleve the flour situation to some extent.
although many bollevo that lt may check
the European demand for grain, especlally
rye.
florn?The market was very actlre and
prico movernents covored a wldo range.
At the outset there was considerable sell?
ing on a beurlsh Interpretation of the gov?
ernment report on farm reserves and on
the belief that a deollne was due after
thn rcccrit shc-n -..ivance. Buying orders
appeared ln ahundanco, however, and thi
market Immedlali ly turned strong and ad
vancod 3% to 4% cents and sold at the
'hlgheat points reached on the bull move?
ment. Small recoipts and tho apparent
Inablllty to move corn from the farms to
tho primary markets were used as a basir*
for the upturn, although many thought
that hulls were trying to push prices to
th" $1.50 mark for the May position in
Chicago. When this position had ad?
vanced to $1.49%, however, heavy selling
dftvelopnd and prices decllned rapidly.
loslng all tho early gains and closing
with net losses ot 1 to 3 cents. Cash
markets In tho West broke 4 to 6 cents
on the faet that Chicago had advanced
to premiums over the outsldo markets and
under reselllng by Eastern cash houses to
secure profits.
Yesterday'e Previous Tear
New Tork: close close ago
Corn. No. 2 yellow$1.80% $1.78% $1.62%
Chicago:
May. 1.46 1.47% 1.37%
July. 1.39% 1.40% 1.31%
Oiits?The trade at large admitted that
the farm reserve figures were bearlsh, but
early ln the day prices advanced In svm
pathy with corn. Toward the close, how?
ever, there was a sharp break and final
prices wero %c to l',ic not lower.
Testerday's Previous Tear
New Tork: close close ago
No. 2 whlto_$1.02% $1.04 $0.72%
Chicago:
May .83 .82% .63%
July .75% .76% .63%
Rye?Market easy.
Yesterday'e Previous Tear
New York: close close ago
No. 3 West.., $1.87 $1.90% $1.57
Flour and .Meal?Quotatlons were:
YeBterday's Previous Tear
New Tork: close close ago
Minn. patent $13.12% $13.12% $11.05
Cornmeal. . .4.00W4.10 4.00^4.10 8.25?3.58
Rye flour. . .9.00@9.25 8.00?8.35 7.60?8.35
Bran .62.50?53.50 53.50 44.00
Cottonseed Oil
The market was domlnated largely by
the action of other commodltles and prices
were wealc, closing with net losses of 48
to 02 points. I.ongs were the principal
sellers and ln absence of more than an In
different demand, prices decllned easlly.
The weakness ln lard and cotton was par
tleularly effectlve and the market also felt
the tnfluenoe of heaviness in the crudo
position. Total sales for the day were
21.300 barrels.
The range of prices follow:
Monday's
Open. High. Low. Close. close.
Spot... - - - 18.50^20.00 19.00
May... 20.30 20.47 19.85 19.90?19.92 20.52
July... 20.80 20.86 20.32 20 33W20.35 20.81
Sept...- - 20.30@20.60 20.89
Oct.... - - - 18.50@20.00 19.05
Sugar and Coffee
Current Tear
prices ago
Sugar, granolated, per lb..14016 9
Coffee, Klo No. 7, per lb.... 16% 16
Coffee, Santos No. 4. per lb.. 24 19
Sngar?The sugar market was easier yes?
terday. The Hoyal Commission bought
several thousand bags of Cubas for April
shlpnient at 10c. f. o. b. Early In the
day there were saleg of about 12,000 bags
San Domingos, prompt positlons, to oper?
ators at lO'.sC c. i. f., and 15.000 bags
Porto Rlcos, afloat and prompt chartfrice,
to trade buyers, at 11c, c. 1. f. delivered.
Cubas were available on a cost and
freight basis at 10'ic There aro sev?
eral cargoes of Cuban raws en route
for New York unsold, and with buvers
hesitatlng to take on further supplie3
at the moment it places the market
about In the same position lt was in a few
weeks ugo, when prices broke from 12c to
'!?o. In roflncd sugar there was no change.
The sugar futures market opened at un
changed prices but broke late in the dav
on advle.es of easier conditions in actual
sugar, closing at net deellnes of 25 to
io points. with sales of 150 tons. June sold
at 10.36c and September at 10.60c.
Coffee Futures?The market vesterdav
was dull and featureless, the trading lack
Ing aggressivoness on either side. Call
prices were 7 to 11 points above the
previous close, tho advance being attrib
uted to covering after the reaction on
Monday., Speculative Interests bid the
market up around iniddav, May touching
15.05c, July, 15.29c, and September, 15c
or 16 to 23 points net higher. From this
level there was a reaction, the advance
meeting selling orders and soon the earlier
gains nnd been wiped out, closing quota
tions being 1 point net higher to 2 points
net lower. Possibly an influence in the
late selling movement was the fact that
the few firm offers here were a shade
easier for futures shlpment. In th? local
spot market there was a fair demand from
interior roastevs and prices were flrmly
held. Rio 7s being quoted at 15 %c.
The range of prices follows:
Open. High. Low. Close, close
March.-14.55ft/14.60 14 54
May... 14.87 15.05 14.85 14.83@l4.85 14 82
July... 15.20 15.29 15.05 15.05@15.06 15.07
Sept... 14.99 15.00 14.87 14.84@14.85 14.85
Nov....- - -_ 14.82@14.83 14.S2
Dec... 14.87 14.96 14,82 14.81@14.83 14.80
Butter, Cheese and Eggs
Bntter?Recelpts were 6.734 packages
Lreamery, higher than extras. lb.. 66 u. (o?
67c; extras, 92 score, 65%?66c; ftrsts,"00
to 91 score, 63% ?650"; flrsts. 88 to 89
score. 60%@63c; seconds. 83 to 87 score
66?60c; lower grades. 52?55c; held, high?
er tharr extras, 61%@62c; extras, 60%?61c
flrsts, 67@60c; seconds. 50?56c; unsalted
higher than ekfcras. 69%? 70c; extras. 68
@69c; flrsts. 62@67c; seconds. 56@61c
State dairy tubs, finest, 63?65c; good to
prlme, 67?62c; common to fair 48?55c
renovated, extras, 63@64c; flrsts, 61@52c;
imitation creamery, flrsts, 45? 46c ladies
current make, flrsts, 42@43c; secorrds 39?
40c; lower grades, 38?38%o; packlng
stock. current make, No. 1, 39'.,c- xo 2
38 %c; lower grades, 35@:.8c.
Cheese?Reoeipts were 3,861 boxes. state
whole milk, held flats, gpecials, 29%?31c:
o~era?e. run- 28? 29c; lower grades 15?
2,f'' T-wU??^SM; ^ecials. whites. 29@30?
colored, 29@29%c; average run colored
or white. 27%?28%c; lower grades 18?
..C, \\ sconsin, whole milk, twins, 27?
30c; single Daisles, held 30&3H ...
double Daisles. held 2S %@31c Young
Americas. 32?33c; State skims. flats and
jYiF.8- specials. 18@21c; fresh specla?s
li?18c; prime to choice, 13? 16c- filr tA
good, 10? 12c; lower grades, 4?9c."
Eggs?Recelpts were 20,837 cases. Fresh
gathered, extras, dozen. 48? 49c ? extra
_'"$?_-. *7?47%c; flrsts, 46?46c; seconds
43? 44c; dirties, No. 1, 42?43c: cnecks'
good to choice, dry, 36?.37cj State Penn
ShiS?* rKl 1e,arby' Western henn"?;
whltes, extras, 53c; flrsts to extra flrsts
61? 62c; gathered whltes, flrst to "t^"'
flrsts, 51? 52c; Western whltes under
R~*?- l9,@50c; pullets, 46@4Sc7- Pacfflc
toast whltes, express, extra flrsts to , ?
tras. 62?53c; flrsts, 60@51c; seconds 48^'
49c; pullets, Petaluma. 46?47c- other to?
tlons, 45?46c; other Western 'and South-"
ern. gathered whltes, 47? 51c; State Penn
sylvania and nearby, hennery brow'ns "x
tras. 62?o3c; gathered brown and mixed
46?r4S8ceXtrU8- 49@5?C; flr8,S t0 ?tramrstt
Livestock. Meata. Frtmslons
Yeeterday Year ago
Llve eteers, fair
to prlme. 100
Drle3s,sed-be-ef'$12-00?14'60*14-25?1?-50
Llve'^al^com: ?"? '" '19? ???
mon to prlme,
Dr^ed'vea.; 17-???^00 ".00?22.00
, ,<-'ity- lb.2*? .34 .24? 32
Live e w e s, 100 ?-*<_' .6i
'Ds ? .? 800?12.00 9fi)1300
Dressed mutton, ?'?wi-.ou
rtll}yi 'k ??;?.?? -17@ -22 .19? 24
Live lambs, fair -*i<w .-*
to prime, ioo
DrS_d'-l_i_; ""?'"' ?.00<.30.00
West, 1U0 lbs.. 21.05@21.16 28.00@23.10
PARTNERSHIP NOTICE ~
NOTICE OF Ll .NiTr^rTl--ARTNrKlTSlTp7Z
Ihe flrm of MORDAUNT & llKMsiir^
under that name. and with a principal place
of business,. m New York County. U iVe__n___
ln the business of the purchase sai* _?5
Sjarw-j-JrlS
trihuted tR'nno ^ uepeclal Partner has con
iruiutea ?6,000 cash to the fi?m e^ti _,,,,.,
nerehlp ls to begin on Ja u r^i.^Vand
natednbvttnthar3L1' ,19,21' -"leV^ir term*
?i_rht within .,^laI Partner exerclsing hia
partner >ear t0 beconile * Onerai
Executor Trustee
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 Clearmg House
:
)
[Charter No. 29. Keaerve Dlatrkt No. 2]
RKPORT OF THE CONDITION OF THE
FIRST NATIONAL BANK
at New Tork City. ln the Btata of Now Tork. at the closo of buslni-M on Ft-bniiry 2?. lj;a
RESOURCES
Loans and dla
counts .$79,146,861.88
Acceptan2?a of
other bai.ka
dlacounted. .. 250,000.00
Custom 'ra' lia?
bility accotnc
o f accept
ancea of thla
bank pur
chaaed o r
d 1 a c o unted
bv lt. 135,000.00
?Total lo.i'.s. - S79.53J.861 *?.
Overdrafts, secured. 6,400.98
Customers' liability account
of "Acceptnrcea" executed
by thla bink. 2,025,000.00
U. S. Govern
ernment se
c u r I t 1 e B
owned:
Deposltod to
aecure cir?
culation... $8,649,000.00
Pledged to ae?
cure U. S
deposits... 28,400,000.00
Pledged aa eol
lateral for *
bills pay?
able .85,000,090.00
Owned and
unolol^e.t 10,287.008.48
War Savings
Certificates
and Thrlft
Stampa ac
actually
owned .... 848,00
D e p o s 1 ted t
with State 1
au thorltles
ln accord
ance with
pro v I sions
of See. 11
K. Federal
Reserve
Act . 1,050.000.00
I Total U.S. Gov
! ment aecuri
tiea . - 133,386,336.46
! Other bonds. securitlea, etc:
Bonda
pledged to
socuro U. S.
deposits. . . 812,844,153.45
Secur itios,
other than
V. S. bonda,
owned nnd
unpledge.d. 59,340,560.39
C o 1 1 a t eral
trust and
other notes I
of corpora
tions 1 s -
8 u e d for
not leaa
than ONE
YEAR nor
more than
T H R K E
T E A R S
time. 40,000.00
D e p o a I ted
with State
a u thorltles
1 n accord
ance with
p r ovlslona
of See. 11
K, Federal
Reserve
Act . 25,000.00
Total bonds, securities, etc,
other than U. S. 72.249,713.84
Stocks, other than Federal
Reserve Bank stock. ?2,900.00
Stock of Federal Reserva
Bank (50 per ctnt of sub
scription) . 800.000.00
Value of banking house,
owned and uni'icumbered. 1,750,000.00
Lawful reserve with Federal
i Reser-e Bank . 21,795,980.04
j Items with Federal Reserve
Bank in profftss of collec
! tion . 2,598,066.06
| Cas.i in vault and net
amounts due from na
I tional banks. 1,150.362.45
Net amounts due from banks.
j bankers, and trust com?
panies ln the United
I T, States . 7.886.01
: Exchange for clearing house 17,462,528 68
: Checks on other banks In the
i Sfme, ci?y . 342,570.99
I Total, $21,561,414.08.
! Checks on banks Iocated out?
side of city and other caah
? nfma ???? ?. 1,106,134.38
Redemptlon fund with U. S.
Treasurer and due from
U. S. Treasurer . ie? j:i ?r.
Interest earned but not coi- ,S''?0J-Z&
lected?approximato . 7Sfi 401 u
Other assets . Iv.idol
Total .$335.071,566.,,
State of New Tork, County of New York ???
,'; SAMUEL A. WBLLDON.^aVhier oi
that the above statement is truo to the
Subscribed and sworn to before me thia
[Seal]
Correct?Attest:
GEO. p. RAKER, Jr. )
E. H. GARY, V
_.TACKSON E. REYNOf.DS. )
FINANCIAL MEETINGS
THE MERCHANTS BANK
0F THE CJTY 0F NEW YORK
Notice is hereby given that a Special
Meeting of the Stockholders of this Bank
will be held at the offlce of the Bank 4*>
Wall St., New York City, on Match' "4
1920. at 11 o'clock A. M. At this Meeting
the Stockhoiders will be Invited to con?
sider and to act upon an agreement for
the merger of this Bank into President
and Directora of The Manhattan Company
which agreemt nt haa heretofore been ex?
ecuted by the offkers of this Bank bv
authority of the Board of Directora and
has been approved by the Superintendent
of Banks, and to transact such other
business as may properly come beforo
tne Meeting.
The transfer books will be closed at tha
close of business March 23rd and reopen
at the beginning ot business March 25th
OWEN E. PAYNTER. Cashier. '
-?-_
SOCTHKRN PACIFIC COMPANY.
NOTICE OF JIEBTltW.
165 Broadway, New York. N. Y. *
_. January 2, 1020.
The Annual Meeting of the Stockholdana
of the Southern Pacific Company will be
held at the office of this Company In An
chorage, Jefferson County, Kentucky, on
Wednesday, April 7, 1920, at twelve
o clo.-k noon. standard tlrne, for tho fol?
lowlng purposes, viz:
1. To elect fifteen Directora.
2. To consldtr and act upon all ques?
tions and matterg w Ich they legally come
before the meeting relating to Federal con?
trol of the Company's properties under the
act of Congress of Mareh :i. 1918, or any
agreement or settlement with the Govern?
ment in respect thereto or relating to the
termination of such Federal control by the
return of the properties or otlu-rwis- ancV
or relating to conditions reauittng from or
suc.ceeding such Federal control. and gen?
erally all questions and njatters growing
out of or ineldent to such control ter?
mination thereof, or followlng conditions.
3. To transact all such other business as
may legally co-ne before the meeting in
cludlng the approval and ratification of all
action of the Board of Directors and of the
Executive Committeo since the last annual
meeting of the Stockholders of thia Com?
pany. WWMJ
For the purpose of the meeting, the
books for the transfer of stock will b?
cloaed at 3 o'clock P. M., Tueaday March
23, 1920. and wHl be reopened at 10 o'ciock
A. M? Thursday. April 8. 1920
By order of the Board of Directora.
_^_HUGH NEILL. Secretary.
CHICAGO. SAINT PAl'I., MINNEAPoTlH
AND OMAHA RAILWAY COMPANY
NOTICE OF ANNUAL MEETING
The Annual Meeting of the Stockhoiders
of the Chicago. Salnt Paul. MlnneapolU
"i,d,?U:;lama BaJl7S" Company wUl bo held
at the offlce of the company, in the eltv
cf Hudson, Wisconsln, on Wed esdiV
April 14 1920. at nine 'o'clock AM^r
the election of directors and the tran"
action of aucn otner business as rnay com*.
before said meeting * v-oma
aa?:aM^blTkra2ri,atbtV1^ o? ffi
Tb8u8ra?anayh,ApdrriyiB:n1d92TU *? ???*?*
Dated, February 28, 19'e
*-hn i^^wSt^sss^r
I.IABILITIES.
Capital stock paid in. $10,000 oooot
Surplus fund. ZO.OOo'ooo'JJ
Undivided ?
profits .$15,232,160.65
Less current ex
penses. inter?
est. and taxes
paid . 1.384.897 62 '
-' 13.847.2*3 ?>
Interest and discount col
lected or credited in ad?
vance of maturity and not
earned?(approxmate) ... 247,875??
t Amount reserved for tax"!\
accrued . 2.225,0'<? ij
Clrculatlng notes outsiand
'Og . 8.061.000 0*
Net amounts due to National
banks. 26,030,3517?
Net amounts due to banks,
bankers, and trust com?
panies ln the United States
and foreign countries. 19.829.475 ?_
(Certified checks outstanding. l,'02i.'jo>'t(
: Cashier's checks on own
bank outstanding. 9 325 444 m
i Total, $66,269,773.86. " ' **
i Demand deposits subject to
Reserve:
Individual deposits. 117.144,39371
Certitlcates of deposit. 12,016.199 71
Dividends unpald. 4_>0 V)
Other demand deposits... 350 770 45
Total of demand de.
posits subject to Re?
serve, $129.311.,i53.89.
Time deposits subject to
Reserve:
Certincates of deposit. 245.607 01
Other time deposits. 2,U8|o97 31
Total of time d< posits
subject to Reserve. $2,
433.704.37.
United States deposits:
War loan deposit account. 6,900.900.1$
U. S. government securi?
ties borrowed without
furnishing collateral se?
curity for same. 250 000 01
Bills payable with Federal
Reserve Bank. 85,000 000.0*
" Accept ances"
executod
by this bank
for custoua
ers .$2,160,000.09
Less accept
ances of this
bank pur?
chased or dis?
counted _ 135.000.00
.125.000.10
Total .'.$ 3 j5, 671.544,14
the above-named bank, do solemniy awttt
oest of my knowledge and belief.
S. A. WELLDON. Cashler.
8th day of March, 1920.
HERBERT F. CHRISTIE.
?votary Publlo.
New York Vounty No. 77.
N. Y. County Reg. No. 1102.
Directors.
FINANCIAL MEETINGS
THE MERCHANTS NATIONAL
BANK of the CITY of NEW YORK
NOTICE iS HEREBY GIVEN tiiat at -
meeting of tne shareholdera of X_? -t?f?
chants National Bank ol ii'.e City of .n*?
York, held un January 13. 1H20. Il WM
ertermlned 10 taKt ?ucn procaedlng* ea
may be nec aary or 'unvenlent ? ar
gamze this Canlwog Associatiot. a? co 1**
eorporated bar... of tne Stat* ef Ne*
Yor.i by tlie name c ' Tne Mcrcnante BanU
? t tha City of New York. and also tne?
when this Bank shall have been ors_nix?*
?? an Ir.coi p .ra'.ed bank of the State ??
New York proceedlnga be taken te marfe
lt wllb the PresTOent ?:id Directors ef
alanhattan Company.
By ordev of the Board of D.rectora.
O. K. PAYNTEK, Cashiaa.
Dated New T>ik. January 13. lttt.
:??
THE MERSHANTS NATIONAL
BANK of the CITY of NEW YORK
NOTICB IS HEREBY GIVEN thet at ?
?"'etlng of the coaroboldera ?f Tbe atar*
ehante Nationa. Bank of tli6 < it> 0' ?N,iT
Tork. held on January II, ItW. U ?_?
voted that the aid Bank go into ??-???*
tion and be cmje'. an.l dlsaoivea.
AU holders of ? ot?e and other cre.uera
?f aald Banklni. Aeaoctation ara h'r_"_
notlfled to present av^h notee and ot_ei
clatma agalnat tho Aseo< lattoii ?er P*fr
ment at Ita Bankinn Hi use, Number ?
Wall Street, New Yo-k City, until f'?rtt'
ary 2$. is.20. ond f^fre.ft.r 10 ita ???
_eun_ agent, tho President and l<:r?ct?re
at the Manhattan Company. at Number a?
W*U Street :.ew York City
my order of the Bor.rd of Idr-ctora.
O. 45. PAYNTKR. Ca?hla?
Dated Vew York January IJ. lt$??
BETHLEHEM STEEL CtRPORATIGH
NOTICB OF FIFTBBNTH
ANNCAI. MEETING OF STOCKHOT.D*'*
The Klfteenth Anntiil Meetlttg Of _??
Stockholders of Bethlehem s-.-i Corporaf
Uoa. a New Jnnrv corporation. w'.U ?"
lo-ld at its principal ottlce. In tlie Pr-JV-n*
tlal L.K0 lUiildinfr. No. 76. Broad st''*T
Newark, New Jersey. on Tuesday. Aprd ?>
:920, at 12 o'cloek noon. At said i'>'e,|"5
the followinir matter-". wll! ba pr?a*_>?"
to stockhold-rs for then _. >i.._ _.
<l) The election of four directors ta
serve for a term of three year* ?
(2) The approva! and ratification of ???
action of tho Board of Directors of asia
Corporation since the Foilrteenth Annual
Meeting of its stockholders, held 0? Apr?
1. 1819: .
(3> Thi* transactlon of such olh?-r b-?>*
ness as may properly come before *?'*?
meet Ing. . 1
The books for the transfer of ahnre* cf
the .Seven Per Cont. Non-Cumula'.'.ve I,rt*
ferred Stock and of the Common ^'o*'*
of said Corporation (but not of the KittH'
Per Cent. Cumulatlv. Convertible i'rf"
ferred Stock or of the Class B Ct??W*?*J_
Stock. which two classe* of atock do aot
have voting powers) wl|i be closed at the
close of business on Tuesday. March 1*?
1U20, and will be reopened at th- opeaBm
of business on Wednesday, April 7. !?_??
Newark, New Jeraey. March 6, 1920
R. B. McMATH, Secrata--y?

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