New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 12, 1920, Image 14

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New-York tribune. [volume], March 12, 1920, Page 14, Image 14
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New-York tribune. [volume] (New York [N.Y.]), 12 March 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-03-12/ed-1/seq-14/>

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BONDS
Long and- Short Maturities
United State? Gov*t
Foreign Government
Municipalities
Railroads
Public Utilities
Industrials
also
Strong Industrial
Preferred Stocks
TheNationalGty
Company
?ata Ofllee* flatten?1 City Sank SalUtr*
Uptown Offle?. F.rtn Ave. ft, 48r? St.
Correspondent Offlcss in ever i S Cities
Hartshorne,
Fales & Co.
Members
Net? York Stock Exchange
71 Broadway
Telephone 7610 Bowling Ores?
Jelke,
Hood & Bolles
BONDS
NOTES
STOCKS
Suitable for
investment
MEMBERS NY- STOCK EXCHANGE
AQ WALL ST, NEW YORK
Founded 1797
Seasoned
Investments
30 Pine Street
New York
Bonds for Investment
Harris, Forbes & Co
Pine Street, Corner William
NfciW YORK
Plan to Grow Own Cotton
British Manufacturers to Pro?
vide $75,000,000 for Project
LONDON, March 11.?Empire cotton
growing; on a commercial basis almost
immediately is foreshadowed from a
meeting: held yesterday in the House
of Commons, which was attended by
pome of the Lancashire, members of
the House and other persons financially
interested in the cotton trade, accord?
ing to "The Manchester Guardian."
A suggestion was approved, says the
newspaper, that the Lancashire cap?
italists provide 15,000.000 pounds ster?
ling for commercial dovolopment, to
be invested in cotton growing in some
selected colony or colonies, subject to
reasonable facilities by road and rail
to be provided by the colonies where
cotton is grown.
The meeting was adjourned for a
week In order that Inquiry might be
mad? into the practicability of Lan
Ms-lr? pro-iding the 914,000400.
Market Shows
Resistance to
Heavy Pressure
Short Sales and Profit
Taking Easily Absorbed;
Oil and Motor Shares
Are Strong and Active
Although the upward movement of
security prices were somewhat less vig?
orous yesterday, the stock market as a
whole was strong. Excellent resistance
to the considerable pressure which de?
veloped as a result of profit taking and
short selling was displayed at all
times. Brokers saw in the strong under?
tone evidence of a good technlcaleposi
tion, especially as prices had been ad?
vancing rather steadily since Monday
afternoon and a sharp reaction, there
forer* would have been natural.
Interest centered largely on the oil
and motor shares. The former were
stimulated bv the announcement that
the Standard Oil Company of New
York had increased the price of gaso?
line 2 cents a ?allon. This was ac?
cepted as another indication that oil
producing and refining companies are
in a favorable position owing to the
enormous demand for their products.
The statistical evidence tends to show
that in spite of the tremendous boom
which has been witnessed in the oil
business, including the development
of a number of important fields, the
demand for petroleum and its products
is in excess of-the current output, so
that trade interests are freely predict?
ing even higher prices. There is talk
of $10 a barrel for Pennslyvania crude.
These things tend to stimulate specu?
lation in oil shares, perhaps to a
greater extent than is warranted, since
at present prices the stocks of many
companies may have discounted a good
deal in the way of increased earnings.
There was nothing in the news to
account for the strength of the motor
issues. Probably it was based more
on technical conditions than anything
else. A substantial short interest in
the motors has been built up during
the recent advance?an advance which
amounts to over 100 points in General
Motors?and the continued. Btrength of
the market is inducing some of the
bears to cover rather than face the
possibility of further losses.
Copper shares generally held most of
the-gains made in preceding sessions.
The coppers are influenced a good deal
more vthan most stocks by the trend in
'the foreign exchange market, because
so much of their product is sold
abroad. The pound sterling yesterday
sold at $3.83, or 61 cents above its re?
cent low, and other foreign moneys
gained proportionately. Later, a sharp
reaction wiped out the ?rains reported
earlier in the day, but this was not
especially disturbing in view .of the
extent and rapidity of the recent ad?
vance.
There is an inclination in some quar?
ters to ascribe the recovery in foreign
exchange rates to improvement in the
trade outlook. This view may possibly
prove to be the correct one, although
that is doubtful. It should be remem?
bered that more than one element en?
ters into the exchange rates.
The export trade itself has held up
very well, as the January figures show
but it is to bo expected that the Feb?
ruary statistics will exhibit a declin?
ing tendency, which will continue for
some time, until eventually the bal?
ance is restored to something like a
normal basis.
Money yesterday renewed at 7 per
cent, . which rate was maintained
throughout the session. There was no
; change in the time money situation, the
I supply continuing so scant that high
bids failed to develop any considerable
offerings.
? ? -?-?
Money and Credit
Call money rates were unchanged
yesterday from the preceding day, all
loans being arranged at 7 per cent.
Bankers stated that much of the ap?
parent ease of the past week has been
I due to the deposit of funds in New
? York for payment of taxes next Mon
I day. In view of the proximity of these
j payments there was more of a feeling
i yesterday that rates may work higher
i until after they have been concluded.
? In some banking quarters the opinion
I was held that the government would
not redeposit a large part of the tax
I moneys in the New York banks.
The ruling rate for money yester?
day, compared with a year ago, follows:
Ye s tor- Year
Call money: day ago
On mixed collateral.... 7 5
On industrial collateral 7 5M?
Time money (mixed collateral):
Sixty days.8%@9 5%@53i
Ninety days.8%@9 6%@5%
Four months.8%@9 6?<?@5%
Four to six months..SUa. 9 5%@5%
Bank Clearings?Bank clearings in
New York and other cities yesterday
were:
Exchanges. Balances, i
New York -$831,864,532 $79,737,029 '
Baltimore . 20,306,145 6,840,197
Boston ..'.. 55,998,294 15,512,061
Detroit . 18,018,433 4,105,000
Philadelphia ... 79,424,169 17,472,232
Pittsburgh _ 26,039,355 9,310,471
Sub-Treasury?United States Federal
Reserve? credit balance, $68,292,397.
Silver ? London, 69%d; New York,
$1.21; Mexican dollars, 92%c
The Dollar in Foreign Exchange
Sterling exchange climbed slightly
above $3.83 a pound yesterday, the
highest level reached since the recovery
: from the low level attained early in
; February, when the pound was quoted
! as low as $3.18. After touching the
, high mark sterling exchange, reacted
1 and sold down to $3.7225 at the closo.
i Francs and lire moved up and down
i with sterling and, like the latter, closed
! at a lower level than that of the pre
? vious day. Marks also reacted some?
what.
Yesterday's rates, compared with
those of a week ago, follow:
(Quoted dollars to the pound.)
Yester- Week
day. ago.
Sterling, demand.$3.7225 $3.5525
i Sterling, cables .3.73 2M
! Sterling, sixty days_8.6875 8.5275
i Sterling, ninety days.. 3.6725 3.5125
(Quoted units to the dollar.)
; Francs, checks . 13.39 13.80
Francs, cable3 . 13.37 13.78
Belgium, francs, chks. 12.82 13.52
Belgium, francs, cables 12.80 13.50
Lire, checks . 17.97 1S.07
Lire, cables. 17.95 18,05
Swiss, francs, checks.. 5.82 C.06
Swiss, francs, cables... 5.80 6.04
(Quoted cents to the unit.)
Guilders, checks . 86.125 37.375
Guilders, cables . 36.25 37.50
Austrian crowns, checks .45 .38
Austrian crowns, cables .46 . .89
Sweden, checks .20.35 18.80
Sweden, cables .20.45 18.90
Denmark, checks. 17.75 15.15
Denmark, cables . 17.85 15.25
Norway, checks. 17.65 17.35
Norway, cables . 17.75 17.45
Pesetas, checks. 17.72 17.55
Pesetas, cables . 17.80 17.42
Greece, checks. 11.33 11.52
Greece, cables. 11.43 11.60
Manila, checks _.... 49.00 49.00
Manila, cables .49.25 49.25
India, rupees, checks... 45.25 45.625
India, rupees, cables... 45.50 45.875
Japan, yen, checks.46.25 46.75
Japan, yen, cables.46.50 47.00
Argentina, cheeks.102.00 102.00
Argentina, cablea .101.50 101.50
Brazil, Rio, checks-27.75 27.75
Brazil, Rio, cable?.28.00 28.00
Mark?, check? . 1.46 1.02
Marks, cables. 1.47 1.03
Obsacho-Slov-kia, che?tks.. 1.28 1.08
X
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings
(Copyright, 192?, New York Tribune, Ine.>
Yesterday.
Rnilroad stocks ... 166,700
Other stocks ...... 1,273,200
All stocks. 1,439,900
Dar
Bvfore.
278,600
1,203,200
1,481,700
Yesterday.
V. a. ?roremraen* bonds. $7,440,000
Railroad bond? . 1,074,000
Other bonds ........... 8,124,000
AU bonds . 11,644,000
Day before.
$8,451,000
1,114,000
8,326,000
12,891,000
Year ^^^^^^^^
aero. 1920.
266,300 6,763,300
849,200 42,971,100
1,115,600 49,734,400
Year ago.
$6,946,000
1,139,000
2,412,000
9,498,000
January 1 to date.
1919.
5,991,200
25,163,300
31,154,500
1920.
$652,971,000
70,516,000
83,514,000
807,001,000
1918.
7,481,500
25,116,900
82,598,400
1919.
$464,822,000
68,119,000
78,214,000
611,155,000
Record of Stock and Bond Averages
(Copyright, 1020, New York Tribune. Inc.)
Range thus Range foil
Day Year far 1920. year 1919.
Yesterday. Before. Ago. High. Low. High.
20 Railroad ?lock? . 68.45 68.45 72.35 68.45 68.60 78.80
30 Industrial stocks ..J_ 98.50 98.03 89.00 110.30 88.70 119.33
50 Stocks . 86.48 86.20 82.88 92.66 77.14 99.64
10 Railroad bonds . 73.96 73.80 80.40 76.28 71.76 82.80
10 Industrial bonds . 89.20 89.37 94.75 91.45 89.20 95.70
5 Utility bonds . 73.76 73.66 85.87 74.63 73.48 87.76
t& Bonds . 80,01 79.99 87.24 81.71 79.48 87.91
Low.
63.35
79.20
75.92
72.83
90.56
71.80
80.21
1920. Rat?.
25 ?
C5 6
65!4 6
1'/2-~
1% ?
36!/4 ?
BQ'/a 7
82 8
75 8
128% 105 10
205 170J4 12
31% 38% ?
143% 1241/8 12
116!/4 112'/8 7
64% 397a 4
1BZO.
36
72
88%
2
ZVa
63%
92
95
95'/2
Sales. Open. High. how.
83%
69'/*
74%
1%
2'/4
42%
82
90%
84i/a
15'/8
117
30%
122
47
68
120'/2
14!/2
86%
99%
105%
106
3oyg
72
MjOVa
S2
115%
46?4
Adams Express .... 4100
Advance Rumely pr. 1800
Ajax Rubber . 100
Alaska Gold Mines'.. 2400
Alaska Junenu . 200
Allis-Chalmers . S900
Allis-Chnlmcrs pr .. 1000
Amer Agr Chem- 1600
Amor Beet Su/iar ... 800
Amor Bosch Mag... 2800 116
Am Brk Sh & Fdy pr 1000 199
Amer Can . 16900 47
Amer Car & Fdry..
Amer Car & Fdry pr
American Cotton Oil
.80 Am Drag Syndicate.
95 6 American Express ..
18J/Z~ Amer Hido & Leath.
90'/a 7 Am Hide & Leath pr
38 4 Amer Ice Securities.
63 6 Am Ice Securities pr
87 8 Amer Internat Corp
12% 1 American La Frnnco
74% 3 American Linseed ..
92/2 7 American Linseed pr
82 6 Amer
104 7 Amer
36 33
69% 60'A
74% 74%
1% 1%
2/4 2'A
44 42/4
84 82
91 90%
84% 84/a
118 116
205 199
47/a 46/a
2600 141/4 141/4 139% 140/4+
100 113/4 113/4 113/4 113/4?
chge. Bid. Ask.
81/4 83
68/a
74
1%
2/4
42/4
82
90/4
84%
?Class.
83 -
69%+ V?
74%+ 1%
1%
2/4
42/4+ Va
83/2+ 2V?
91 + 2/4
84/2+ /a
117/4+ 1/4 116
205 %30 195
46/a+ % 46/4
/a 139% 140/4
112/a 115
69/a
76/a
2
2%
43
83
91
843,4
117
214
4634
400 47 47/4 47 47/4+ 1/4 **3/a 47
1800 12% 12% 12% 12%? V? 12% 12%
2400 115 117 115 115 + 2% 113 115
800 23/4 23/2 23/4 23%+ /e 23/B 23%
3900 107 107 10534 106 + /a 105% 10634
200 46 46/a 46 46 + Va 45 47
200 64% 643,4 64% 64%+ 1/4 64/4 65
9100
1000
1000
400
Locomo . 13900 100/2 101%
Locomotive pr 200 106 106
98/2 100
13 13
83/a 8334
93 93
98%
13/2
83
95
1634 ?
56
9334
80
86
39
140/2 123/a
99 77
100% 96/a
283 225
74% 64%
97% 92/a 6
165/a II2I4 7
61% 38'A ?
4
7
6
8
3
7
10
8
20
6
Amcr Ship & Com. .
American Sme'?nj?. .
Amer Smellintr pr. ..
Am Smelt pr A.
American Snuff ....
Am Steel Foundry...
American Sugar ....
Am Sumatra Tob...
19800
4-100
200
200
98 98%+ % 9834
13 13 ? 'A 13
82/4 82/4? % 82
93 93?1 93
9934 100 ? /a 9934 100/s
106 106 ? 1 105 107
27/2 28 27/4 27/4+ 1 27/4
68 68 66% 66%? % 66%
94/a 94/a 94/a 94/2+ /2 94
81 81 81 81 ? % 80
300 II2/4 II2/4 II2/4 II2/4+ 8/8 112
1600 46/a 46/a 45/2 45/a? /2 46/2
2100 132% 132% 130 131 ? 1% 131
700 91% 92/a 90/4 90/4? /a SOJ*
27%
66%
95
82
116
45%
132/a
91
99/4
95/a+ 3
84 05/a
126/a 127
46/a 46%
21%
65/4
27/4
67/4
125
86/a
82
9
93
176/a 137
75 63
16/a ?
64 4
23 ?
45% 4
107 6
76 6
76 B
6/4 ?
84 7
10
5
Am Teleg & Tel. 7100 99/4 100% 99 99 ? Ve ?9
Amer Tobacco. 2600 269 ?65 ?59 ?84%+ 8 ?64/a ?65
Am Tobacco Sec,.... 19800 63% 67/4 63% 64^+ 8% 64/4 64%
Am Tob pr now. 200 95/2 86/2 95/a
American Woolen.... ?4100 129 131 Va 126
Am Writ Paper pr.. 700 46/a 46% 46/a
Amer Zinc . 800 20/4 20/2 19%
Anaconda. 4100 60% 60% 69%
Ann Arbor pr . 200 25/4 25/4 86/4
Aasoc Dry Goods ... 2000 49 49/4 48
Associated Oil . 400 117 117/2 117
At, Top & San Fo.. 2600 86 86 8514
900 80 80 78/a
100 8?4 834 834
114 112/a 7
123/a 103/2 3/a
102/a 98% 7
38% 23/4 ?
49% 42 4
134% 114 8
1%
31%
95/4
102/a
114
15
11
15
120
8
11/2
291/4
27/4
28%
85/a
46
75/2
68
134
10434
1 ?
17/2 ?
77/a B
81/a 5
108 8
10%
7/4
10
93
6?4
7% V
22 ?
15 ?
17 ?
74 6
2734
65 . 7
59/a 4
115/4 10
72 5
20134 175 8
61% 454 4
62 47 4
14534 117/a 10
At, Top & San Fe pr.
Atl, Birm & Atl_
Atl Coast Line.
At!, Gulf & W I...
Atl, Gulf & W I pr.
Atl Refln pr.
Baldwin Loco Co...
Baldwin Loco Co pr.
Balti & Ohio.
Haiti & Ohio pr_
Barrett Company ...
Batopilas Mining....
Beth Motors . 4400
Bethlehem Steel.
Beth Stl, Class B_
Beth Steel 8% pr. ..
Brooklyn Rapid Tr..
Bkyn Rap Tr ctfs...
400 89% 89% 88%
4C00 107% 159% 157
400 65 65 65
100 114 114 114
113/a 114/4
? Booth Fisheries. 4600
37100 120/4 122% 119/2 120/2+ 1/4 120/4 120/2
200 991-4 99/4 99/4 99/4+ /4 99 100
9100 37% 38% 37 37 - 36%
400 49 49 48/a 48/a-? <8
R00 125/2 127 125/2 125/re- 124
200 1% 1/8 1/a 1/a- 1
22% 25/4 2234 25 + 2/4 2434
300 86/2 88 86/2 88+1 86
30100 92% 94/8 91% 92/4+ % 92/8
300 113 113 113
14% 14% 1434
103/4 1034 10/a
11% 11% 11%
2100
700
10 Burns Bros . 400 10834 108% 107/2 107/2 +
591/_
734
9/4
10%
27/a
42 /a
61/a
91/2
106 /a
41%
78
66/2
54/2
21/4
41%
4034
44/2
?.'7
65/a
9234
67 '
65
63/a
87/3
20%
13%
93%
107
S1/4
240
54/a
85%
C6%
105
9
16%
5%
11
67/2
28
39
147
15%
27
95
9034
15/2
35/2
48
3 6/2
19/2
192
73%
100
9434
172
435
85/4
90
33
85%
102%
65/a
49%
81%
41
38/8
8/2
84%
63%
71
16
93%
221/.
47
4 ?
4% ?
7 ?
21 2
30/4 ?
45% ?
Brunswick . 300
Butte Cop & Zinc. .. 800
Butte & Sup Copper. 1600
Butterick Co . 700
Caddo Oil . 2200
California Packing.. 200
California Petroleum. 6100
Calif Petroleum pr..
Calumet & Arizona.
Canadian Pacific ...
Central Leather ....
Central of N J _
Cerro De Pa3co. 71 CO
Certainteed Corp ...
Chandler Motors ...
Chesapeake & Ohio.
Chic & East III.
Chic & East Ills pr..
Chic Great West_
Chic Great West pr.
200
200
4400
800
120O
400
300
Chic, Mil & St Paul 1S6O0
75
78
23/3
64/a
64
42
15/a
31%
333/a
36/4
20
36/a
87%
53
44
65/a
75
16%
10/a
76/4
101
25
189
39/a ?
79/2 7
89% 9
165 10
6 ?
9 ?
3/a ?
7/2
56 2
29/a ?
33 3
99 5
9/a ?
17% ?
65/a 8
85 8
10 ?
26/4 3
33 3
21 ?
12 ?
183 8
58/a 6
98 7
85 7
152/a 8.
225/a 12
69/a 6
84 7
24/a ?
64% 6
92 7
36 <?
31/4 2
68!4 7
33 4
2934 ?
7 ?
57% ?
50 4
51 6
13* ?
Chic, Mil & St P pr
7 Chic & Northwest..
3 Chic Pneumatic Tool
Chic, R I & Pacific.
7 Chic, R I & P 7% pr
6 Chic, K I & P 6% pr
C, C C & St Louis.
Chile Copper . 9200
V/z Chm? Consol Copper 18?}0
Coca Cola . 1800
Col Fuel & Iron.
Col & Southern.
Columbia Graph ...
Columbia Graph pr.
Columbus Ga? & Elec
Comp Tab Record...
Consol Cigars .
Consolidated Gas ...
Consol Int Calla Min
Continental Candy ..
Corn
Corn
2000
200
3100
50
2600
400
400
10100
1600
300
Products .24100
Products pr..
% Con Textile . 200 23
12 Crucible Steel . 121O0 220
6600 48
1CC 82/4
100 96%
400 1S3
1000 7/2
Cuba Cano Sugar...
Cuba Cane Sugar pr.
Del & Hudson.
Del, Lack & West..
Denv & Rio Gr.
Denv & Rio Gr pr.. 1800 14%
Dul, So Sh & Atl... 200 4/a
Dul, So Sh & Atl pr. 200 10 '
Durham Hosiery .... 200 56
Elk Horn Coal. 3600 24/?
Elk Horn Coal pr.... 100 37
7% 7% 7%
10/a 10/a 9%
27% 28 27
19/a 19/a 18/a
22/a 23/2 22/2
80/a 80/a '79/2
36/8 38/a S6/a
72 72 72
65 65 64'4
2000 126/a 126% 126/a 126/2+
6100 86/2 88/4 85% 88 + 234 87%
20O 20134 20134 201% 20134 + 1034 190
52 52 51/a 61/a? /3 51
800 55 56 65 66 + 1/8 62
24100 141/2 145% 141 144/4+ 5/4 144
69% 69% 68% 68/a- 68I4
6 6% 6 6%+ 1% 7/4
734 8/a 734 8/4+ 1/4 8
9% 934 934 934? 1/4 9/4
26/3 26% 26/a 26%? /? 86/4
41 42/a 40/4 40/2+ /a 40/4
61 61/2 69/2 59/2? 34 69/4
91 91 90 90/a? % 89%
88 88 88 88 + 2/4 87
39/2 3934 38 38/a? /a 38/8
77/2 78 77/a 78 +
66 66 65/4 65/4?
52 54/a 52 54/a+ 3/4
I8/4 18% 18/a 18/4? '/4
35/a 35/a 34% 353/a+ %
37/a 37% 36/a 36/a?
40% 41 4034 41 +
26/4 26/4 26/4 26/4 +
47% 48% 47% 47% +
8734 89 87% 89 ?
59% 60 59 59 ?
50/a 60/a 50/a 60/a?
61 62 61 62+2
82/a 85/a 82/2 83%+ 1%
19/a 19% 19/a 19/a? /a
1034 11 1034 11 + /8
92/4 93% 91/4 Si/a? %
200 105% 105% IOS/2 IO5/2? 1/2
28 28 28?1
232% 227 /a 228/a+
40/2 45/2 45/a?
82 /4 824
96% 96%
195 194
7/a
7200
160O
200
39900
800
1000
830
'/a
1%
?A
/4
Ve
Va
15
4/a
10
56
24%
37
Endicott-Johnson
1800 IO7/2
Erie . 8400
Erie 1st pr. 8300
Famous Players. 1600
15%
2434
80
90
15/a
33
80%
13/2
69
50/a
83
61%
4%
15,8
135
115
51%
111%
89!?8
2634
61/a
2134
44/4
19/a
152/? 106
96
105
90
33%
48/2
&1%
12/4
224
38%
471 /?
Wa ?
II234 6
IIO34 7
27% ?
76/a *
70% ?
19% ?
35/a ?
14 _
39% ?
13% ?
4
8
66 ?
27% 2
24%
63
Famous Players pr... 100
Fed Min & Smelt.... 300
Fed M & Smelt pr.. 1000
Fisk Rubber Tire.... 1600 38'4
Froeport Teins . 900 25/0
Gaston Williams .... 700 16%
General Chemical.... 100 192
General Cigar . 1S00 69%
General Cigar pr_ 200 98
Gen Citfar pr deb_ 200 G7
General Electric. 2100 163
General Motors .298C0 318
Gen Motors 6% deb.. 1400 72|,4
Gen Motors 7% deb.. 1000 86
Gen Motors ctfs. 38600 31/2
Goodrich, B F. 5?C0 73'/a
Goodrich, B F, pr.. 400 944
, Granby Mining _ 800 33J4
Gray Davis . 200 35/?
Great Northern pr.. 2000 81%
Gt North Ore subs.. 1600 39
Greene Can Copper. 2000 35%
Gulf Mob & North.. 200 9
Gulf State 8tcel. 1000 68%
Hask & Bark Car Co 4800 61%
Homestake. 800 55
Hupp Motors . 4000 144
Illinois Central . 400 93>/z
Internat Agrien! ... 3000 19?/2
Internat Agr?cul pr. 200 74'/2
Inspiration Copper . 3200 56%
Interbor-Con Corp . 7100 44
Interbor-Con Corp pr 3900 15%
Internat Harvester . 1300 130
Internat liar pr_ 500 111
Int Mer Marino. 6100 36%
Int Mcr Marine pr..v, 4400
Inter Paper . 12900
Inter Nickel . 8900
14%
4/a
10
56
20
37
107% 106% 1069?
15% 14% 14%
24/2
79/a
90
15/a
33
37%
25/a
16
192
(.934
98
87
77
65
52/4
I8I/4
35
36
40/2
25/a
4734
88
69
61
62
8334
/a 19/a
/a 1034
% 91%
Va 105
27/a
/a 228
45/2
82
95/a
190
7/a
%
Iron Products .
Jewel Tea.
Jewel Tea pr.
Sans City South...
Kelly Springfield ...
Kelly Spring 8% pr.
Kelaey Wheel Co....
Kennecott Copper ..
1.20 Keystone Tire .
6 Lackawanna Steel ..
700
200
200
2100
9?4
8C%
22%
43%
15%
41
18
S00O 122
200 9934
24%
81/4
90
15/a
35
38/a
25%
17/a
192
63%
98
87
I68/4 167
330 318
7334 72
86
33
74
9V/z
41
354
81%
39/2
36
9
69
63/a
65
15/4
93%
21/4
75%
56%
4%
15/a
130
111
37%
93
82%
2234
45
15%
41
18%
14/a
434
10
54
23
33
106 /a 107
14% 15
24/a
79%
8934
14
33
37%
25
85/2
31/a
73/a
944
394
354
80%
38%
35/a
9
68/4
6134
55
H/4
93%
19', -a
74/3
66/a'
4
14%
12934
111
36/4
91
80%
22
43%
15%
41
17/a
8/8 ? Lake Erie & West..
16 ? Lake Erie & West pr
28 ? Lee Rubber & Tire..
300
9100
8100
4800
200
200
500
4 40/2 3% Lehixh Valley . 1600
80
31! s
39'/2
74/?
124
224
34%
47
124/b 122
99% 993/4
20634 164% 12 Lig & Myers Tob Co 800 165
18 14/2 ? Lig & Myers Tob ris 200 16
32 25/2 2 Loews, Inc . 1900 304
28 17/a ? Loft Candy . 2000 20/8
70 45 ? Loose-Wiles Biscuit . 200 67%
H0/2 106 7 Li* & Myers pr- 200 106
II2/2 98 7 Louis*/ & Nashville.. 4100 107
48 39% 7 Manhattan Elevated. 300 46/a
33/a 28 ? Manhattan Shirt ... 200 31 Va
69 60 ? Martin Rockwell .... 200 60/a
88% 18y??? MsxwsU Motor Co... 700 ?0%
80
32
40/4
7434
12/4
224
34%
474
165
16
30/2
20%
57%
106
108
47
31 Va
60V?
80%'
80
31/a
39
73%
12/4
224
3434
47
165
16
30
19%
57%
106
107
46/a
31/a
60/8
88/?
82/4 +
9634
194 + 4
734+ Va
15 + %
4/a? /a
10 + 1/a
56 -
24 -
37 + 4/4
r? 4
24%+ %
79/a? Va
90 -
15/2+ /a
33 ? 2/a
38 .
2534+ %
164
192 +IO/2
6934+ 4
98 + 14
87 + 4
167 ? 2
323/2+ 9
734+ 14
85/2+ 4
324+ %
734? 4
94/2+ Va
41+3
354
8034? ?4
38%
36? + 1/a
684+ Va
62/2
55 -
14%+ Va
93%? %
214+ 1%
7534+ 434
55%? %
4/a
14/,
130 + %
111 ?
364?
91/a+ 1%
81 %+ 1/a
224
4334? /4
15%+ Va
41 -
17/2? i/2
123/2+ 2/a 122/
99%+ Va m
80 +10
31/8+ '/?
394+ 14
744+ %
12/4+ Va
224
3434? %
474
165 + %
16 +
304?
19%?
57%?
106 ?
107"/a+
37
48%
126
I/4
25
88
92/a
114
1334
10/a
1034
109
8
10
27
19/a
23
80
374
72
64
126%
88/4
210
51%
64/a
144/2
694
8
8/a
934
26%
4034
60
91
90
3334
77/a
65/a
544
I8/2
35%
364
4034
26/2
48
89
60
54
62/a
84
19%
11
9134
106/a
28/a
229
46
824
973/a
195
7%
15
54
10/a
60
24
42
1?20.
63/a
222
26
71%
52%
18/2
78
11
18
31%
49?4
69/a
61
38%
125
118
72%
89%
11/a
89/2
86/4
6%
17/a
47%
117
77/2
36/2
62
49%
48/2
3634
21%
29
100/a
83/2
77/4
60%
5%
9/a
142
41%
65
38%
1084
103/8
474
43/2
3534
16
41/a
32
61
42/a
SO/4
82%
23/4
63%
303/4
27%
103/a
1920. Rat?.
47/a ? Mar Mot Co 1st pr
161 % 10 Mexican Petrol ...
2 Miami Con Cop
1.20 Middle States Oil- 9I00
4 Midvale Steel . 9100
- Minn & St Lo new. 400
7 M, St P & S Sto M. 300
? Mo, Kans & Texas.
Mo, Kans & Tcx pr
Missouri Pacifie ...
Missouri Pacifie pr
Montana Power ...
Mulllns Body
214
2234
42%
9 ?
63" 7
?6 ?
834 ?
21 ?
36 ?
61% 3
36/j
36/4
110
1111/4
44 ?
83
8
66/a
7234
4/4
14
39/a
92
644
23%
55
43
30
23/2
16 .
10
83
68/4
60%
Sales. Open.
300 66/2
26100 189
E00 23/2
High. Low.
66/2 66/2
191% 186
Close, chga. Bid.
66/2+ V/a 65
187/a- Va 187/2
3/a National Acme . 700
4%
6/a
120
28
61
31
71%
67'4
37
40
20 ?
11 ?
33 ??
23/2 ?
48 ?
34% 3
60 4
4834 ?
15% ?
614 B
2I/2 ?
16 1
84 8
National Biscuit .... 200 118
7 Nat Biscuit pr. 200 113
National Anilins ...
7 Nat Aniline pr.
- Nat Con & Cable....
6 Nat Enam & Stpg...
6 National Lead .
- N R R of Mex 2d pr.
1 Nevada Cons Corp...
New Or, Tex & Mes.
0 N Y Air Brake. 1100 100%- 107(4 106
5 New York Central...
- NY, Chic & St L..
5 N Y, C & St L 1st pr
5 N Y, C & St L 2d pr.
2/2 New York Dock
- N YiN H & Hart...
1 N Y, Ont & West...
- Norf & Southern
7 Norfolk & Western.
7 Northern Pacific ...
5 Nova Scotia Steel...
4 Ohio Gas .
V? Okla Prod & Ref...
Ontario Silver . 1000
II8/2 109
96
102
2234
85%
86
35/a
94
124%
6534
110%
77
21%
16%
25%
18
50
9%
240
74
894
174
6434
32%
33/a
fi2/2
84/a
37
93%
64/a
13% ?
14/a 1
15% ?
11 ?
22 ?
6/2 _
214 8
Otis Steel. 1000
Owens Bottlln? .... 400
Poeiflc Mail . 400
Pan-Amer Pet .?7900
Pan-Amer Pet B- 6800
Parish & Blngham.. 200
Pennsylvania R R... 64100
Penn Seaboard Steel 200
Peor?a & Eastern... 200
Peoples Gas & Coke. 1100
P?re Marquette -
P?re Marquette pr ..
Philadelphia Co -
Pitts C, C & St Louis
Pierce Arrow .34600
Pierce Oil . 3600
Pittsburgh Coal _ 300
Pitta & W Va_'.. 10OO
Pond Creek Coal ... C00
Pressed Steel Car .. 400
Pullman Palace Car
Punta Alegre Sugar.
Rail Steel Spring .. 400
Ray Consol Copper.. 2600
Reading . 45100
Reading 1st pr. 1000
Reading 2d pr. 1600
Remington Type'r... 200
Rep Iron & Steel-28900
Rep Motor Truck.... 400
6.50 Roy Dtch, N Y sh... 26900
6 Savage Arms . 1200
Saxon Motors. 4900
St Joseph Lead. 2000
3434
64
119/2 116
9O/4 73%
48?4
82
105%
26%
58/2
86/2
115/?
137/2
12/4
231
43%
193
14%
196
95/2
106
33%
66/2
35
190
38
St Lou & San Fr
St Lou & Swn....
St Lou & Swn pr.
Seaboard Air Line.
Sears Roebuck ...
Sears Roebuck pr..
% Shell Trans Ter.
8 Otis Elevator . 300 140/2 140/a 138/4 1384*
6100
200
300
200
800 233
2600 119/
8600 30
119/a 119/a
83% 80
Sinclair Oil .41600 41% 44/4 41%
Sloss-Sheff St & Ir.. 2500 75/2 76 74
18 ?
60 6
60 4
80/a 7
100% a
94 ?
166/s 10
25 ?
26
584
68%
99
137
11/a
23900 194/2 202% 194
9600 384 39% 37/2
156/2
12
160
61
90?4
20
64/a
284
168
27%
125/2 110
24%
81
90
14%
38
384
25
53
205
12%
2934
25/a
65
31%
78%
1-6%
56%
96/a
143%
76
109
40/2
176
83/4
2034
1534
43
28
63%
77/a
40
64
914
61 Va
924
115% 109%
80% 68%
8
Southern Pacific
Southern Railroad .. 4600 26
Southern Railroad pr 800 584
Stromberg Carb ... 1600 674
Studebaker . 49800 96
Stutz Motors . 1600 134
Tenn Cop & Chem.. 3000 10%
Texas Company ....
Texas & Pacific...
Texas Co 30% pd. ..
Third Ave Railroad.
Texas Co fall pd....
Tobacco Products . ..
Tobacco Products pr 100
Tran Con Oil. 24100
Transue W Steel. 200
Twin City Rap Tr... 200
Underwood Type ... 200 175
Union Oil. 7000 33/2
Union Pacific. 4800 1254 125
United Alloy . 1600 45 45/4
United Fruit . 1600 201 203
United Ry Invest .. 4000 11% 12/4
United Ry Invest pr. 600 26 26%
U S Cast I P & Fo
67 -
16/4 +
16/a
24%+
17/a +
294?
8%
233 +
119/2+
81%+ 1%
434+ 1% 43/a
74 ? 1/2 72
23800 101% IOI34 100/b 100/4? 4 IOO4 IOO34
25
58
67
95%
134
10%
? Vz
25 254
57 58
66/2 67
97/8 974
135/2 136
1034 10%
198 199
38 Vz 38%
400 189
300 14
200 190
6800 684
93
26%
68/3
32/2
192
14
190
70
93
271/2
68/a
32 Va
175
35/a
189
14
190
68/4
93
26/4
58/2
324
175
33/a
25
68 -
67 + %
97/4+ 24
136%+ %
11 + %
198 + 4
38% + ' 1/4
192 +15 ? ?
14 ? 4 13% 14
190+5 ? ?
+ 1
+ 23/
274+
58/2 +
32/a+ 1
175 + 64 175
344+ 1 34/a
69
93
Vz
68/4
93
27/8
69/a
30
1244 124/2+
69
94
274
60
35
190
34%
% 124/b 125
45 45/a
199 200
4O0 18%
100 47%
200 314
2000 684
24900 86
1600 48%
United Retail Stores 18300 75/8
U S Rubber . 33000 107% 1033/4 10634 107
U S Smelt & Ref... 1603 69/, 70 69/2 69% +
U S Steel . 68100 100!
U S C I P & F pr
U S Express ....
U S Food Prod ..
U S Ind Alcchol
U S Realty $ Imp
106% 107
,2 101/8 99/a 99%?
25 4J
I6/4]
10
185
69
97
87
166
323
73
85/a
324
73
944
41
34/a
80/a
3834
35
9
68
62/a
51
1434
92/a
21 /a
754
% 60%
4
14
Va 129
Va 1104 m/a
Va 36/4 3634
91 %
81 Vz
22%
43/a
1534
40
17/a
192
69% ',
100
88 |
168
3234
74
86
32/a
73/a
944
42
35/a
81
39
36/a
10
70
6234
65
15
93/2
22
76
564
4/a
14/a
130
12%
57%
. 72%
91
10/a
31
57
12%
27/a
64
119
554
m?
14/b
22/a
6634
32
93
130
954
9 ?
42 ?
59/a 4
76 6
7/a ?
20/2 ?
48/j ?
8% ?
20/2 ?
544 4
106 7
43 4
64 5
94 ?
16 ?
49 4
22% 1
86 7
120 8
67 6
69
- 99/a
U S Stesl pr . 1300 1134 113% 113/4 113%+ 1% 113
Utah Copper . 4000 76 76% 75/8 754? Va 75
Utah Sec Corp .
Vanadium Steel ....
Va-Carolina Chem..
Va Ir, Coal & Coke.
Wabash .
Wabash pr A.
Wells Fargo Express
West Mary .
West
West Pacific pr ....
Westing Air Brake.
West inch o uso Mfg ..
Wilson Co .
Wheeling & L E_
Wheeling & L E
White Motors ..
Willys Overland
Willys Overland
Wool worth ....
Worth Pump & M
Pacific . 800? 254
pr.
pr.
1C0 125/
4400 80
70
99%
114
75/8
10/a
6O/2
71
90
9%
29/4
66
11/4
26
63
112
53/4
73
13
21/2
69
26
90
126
83 4
Bid and Asked
. , \* B'd Asked. ?m amIci?!
Aclv Rumely.. ?to* 41 .Int Taprr pp.. 85 -"
a!? Iff v1 pr ??* i.'.? Im ?Nickel pr 85
Aj? Ilk .Noto. 40 4.1 ?lut Halt ..... 63
^".pr^-. 4.">V? 5'J I Iowa fentraj. 5
,9?? Jow?l IVa pr. 4?
100H1./ Kaysi-r ....105
U7 }a KCFtS&M
74
31
39
73%
12/b
224
3434
- 474
Va 105
% ?
Va 30/4
% 19%
Va 66
- M06
1 107
47 + 1,
31Ka+ 1/a
60!4+ /,
88yV-1%
46
29/a
68/a
S7V?
913,
82
22%
46
17
42
184
123/2
100
80
31%
394
744
124
22/2
35
474
170
30/2
20
58
107
107/a
48
32
60/a
80
Am Bt Su? pr l -
Ara B S & JT 90
Ara Ctui pr... l*,i
Am Cot O pr. ?. ;,5
Am .Malt & O 8l)i? ?5
Ala fc-iilpbldg.. ?? IL'3
Am Siiu/T pr.. SO 90
Am ?Steel *r* pr 'M'A OH
Am Sugar pr..lH 11?
Aul Sum T pr ?.4V4 ?O
Am Tel & C.. 48 53
Am Z?ic pr. .. f.4 C6
Ann Arbor ... 15 ig
A 1) O 1st pr (i"> 70
do ^d pr.. .. (ii 70
A li & W I pr 64 C5
Amo S Corp.. 12 11
do pr . ;'iiVs 28?
Bamott Li-atli. 55 (?2
do pr . 85 95
Il;irreU Co pr.100
Bklyn Edlnon. 851
Brown Shoe...
lui)
pr. 52
IK.6I .spring pr 99
Kolsey VVu pr Du
Koos & D M 4
I do pr . 20
Kresge 3 S. ..135
'Li l>r .li)2
lii-rc-os. & Co.. . 7?
! ?1? pr.101%
?L-W 11 1st pr 99
? (I ? 2d pr_110
IiOrlllard I' pr 104
lilaca?y Cos... fil
11.5
Renn?
L';?~>
Bid A.-il.ixl
Sar.102 'uS
Jtop 1 & ? pr. 9><
Roploglo Sloel 3S
81-S H & I pr 90
3 1' B Siurar.200
do pr.10?
Stand MBUnif.125
do pr. SO
Stow't Warner 35
Studebaker pr.100
I Sup Stool pr..l00?4 103
T & 1* Ul Tr.235 35ft
I TJdo Wat OU.ISO
TS;Ij&\V ctfg. 12
do pi* otfs,. IS
Tw C R T pr ?
Und Typew pr ?
100%
40
?8
240
112
140
90
Bid Askod.
tJCSof Am. 100 224
do pr.107?4 140
U Drug- 1st pr 50 50%
do 2d pr_130 ?
U 3 I Alo pr. 96
U 8 S & R pr 46
Vul Detannlng. 24
d<
100
48%
101
210
13
23
90
n*H
4.1*4 W McT 2d pr..
W I'nloo ToL 86H SCH
W Mfg 1st pr. 64 67 .
Wilson Co pr. 95 (?7
Wis Central... 39 32
Wool worth pr.lll 113
W 1\&M pr A 87 H 05
do pr B_ 72V4 76
120
M:?
pr . ri.I
iU Sugar. 113
P.
106
pr
5%
109
100
60 ?i
61
100
99
30
Burns Bro* pr.100
Buff It & P.
do pr .
Buff & Susq.
do pr .
Bush Term .
Caso J I pr..
Control Fdry.
do pr . 36 56
Cent Loath pr.l03Vi 107
? & S A Tol.lOO 114H
Ccr Cor 1st pr 8414 ?
Cavo A Hits ? 80
C St P M & O 6? 72
do pr. 90 10".
I.CCCAStL pr.. ?5 .TS
?Cluott-Pea pr lot
: Col ?4 S 1st pr 51
! do 2d pr.... 40
I C?>n Cigar pr.. 7:1
I Ormt Can pr..l00
! Cent IiiRi:r.... 74
Crex Carpet... SI
Cub-Am Sug..405
do pr .101 110
Deero Co pr.. 0'J% 102
Potr Edison...106 IOS
niirh Hos pr. 9? 190
Em-Brandt .. 21 25
do pr . 82% S6
Fisher Body..117 130
do pr .102
Oen Chem pr. 96
O M * Km.. 28
Int Mot Trtt..
do lut
h <?
Martin Rockiv. ."8
Math A!k V.. 28 .
May U S pr.P'4
Mi/x Petrol pr 95
AM'-h Central. S2
MStF&SSM pr 91
do 1 1. 52
Mont Pow pr. 99
Morris? ?fe Ess. ?
Bo
115
101%
29
110
100
102 H
?IS
80
105
60
110
98
Mr..102
pr... [2
aYa S ?5
110
75
?r
Mull Body pr. 97
Nish & Cha.. 104
N Cloak & St 61
do pr . 95
N B0 .1 S pr.lQi
NHRofM 1st pr ?
N Y I. & \V.. 85
Vorf Sc \*7 pr. GS
N American... 54
-V Fcls p pr. ?
Ohio Fuel ... 49
Otis Rev pr.. ?
Otis Steel pr . ?
Owens B M pr 90
Pa-tile Const.. 25
do 2d pr_ 4'l
Poclflc Devol. 70
no n a h -.1
Pacido T it T 40
Pan-A Pet i*r,175
Penn I C pr. 90
P M prior pr. 63
PcV-MuU _ 95
Pioroa-Arr pr.pulios
merco Oll pr. IM 95
P Ft W & C.120 124
Pitt? i*te<rt pr. 97
P A W Va pr 73
Pr Stl Car pr.102
P S 0 o? N J 60
Ry Stl 8p pr.104 .
Rein Type** pr 9i% 100
g da lit pr... M ?3%
lis
71
10O
101H
16
90
71V.
5',
10+
93
97
101
2n0
95
f.fl
115
89
77%
103
68
109
Board Member Expelled
Stock Exchange Acts Against
B. B. aMrcuse
Bruno Benjamin Marcuee, a member
of tfre firm of Marcuse & Co., of Chi?
cago, was yesterday expelled from
membership in the New York Stock
Exchange. Announcement of this action
was made from the rostrum on the
floor of the exchange before the open?
ing of trading yesterday. Aside from
charging that Mr. Marcuse had made a
false statement to Stock Exchange au?
thorities, representatives of the ex?
change would not discuss the case, ex?
plaining that it was "an internal matter
of housecleaning," which did not di?
rectly concern the public.
_ Although Mr. Marcuse was in the
city Wednesday nitrht and appeared be?
fore the board of governors, of the
Stock Exchange, ail effort3 to find him
j yesterday to get his version were unsuc
' cessful. Mr. Marcuse joined the ex?
change on December 17, 1914, and since
his firm is in Chicago, did not per?
sonally trade on the floor, but the firm
did its business through other floor
members. Under the rules of the ex?
change. Mr. Marcuse may retain his
seat without.the privilege of member?
ship or sell it at the ?current market
price.
In Wall Street
Inactive? Strong
Many of the so-called inactive stocks
caught up with the onward march of
prices yesterday. Some extremely
large advances were r?K?s*cr*d *"!
number of these issues on <??Pa?
tively small transactions. There was
?Kelsey Wheel, for instance, wh.ch
! moved up 10 points on a trade o? ovo
shares. Columbia Graphophone pre?
ferred advanced 9 points on an ex?
change of fifty shares, American Brake
Shoe and Foundry preferred J?mP^
30 ?points on transactions i.nv^lving 900
shares, Central Railroad of New Jersey
went up 10% on 200 shares, Underwood
Typewriter 5% on 200 shares, Inter?
national Argicultural preferred 4% on
200 shares and General Chemical 10ft
on A single sale of 100 shares.
"What Do You Think of the Market?"
' The board member of a leading Wall
Street stock exchange firm: "It is my
own opinion that this market will go
considerably higher, as the general
trend appears to be upward. However,
wide fluctuations are likely to occur.
It is no time to buy unseasoned securi?
ties. I believe the steels, coppers and
rails offer the best speculative possi?
bilities."
Associated Dry Goods
Although directors of the Associated
Dry Goods Corporation did the ex
pected yesterday, when they declared j
an initial quarterly dividend of 1 per
cent on the common stock, .thereby
putting it upon an annual basis of 4 :
per cent, the stock advanced 1% points
on the announcement. The annual re?
port, Which will be issued to the stock?
holders within the next ten days, is
expected to show less than $15 a shane
earned in 1919, after deductions for
taxes and for preferred dividends. Even
then the company will have done much
better than in 1918, when only $2.04
was earned, and in 1917, when $1.54
was earned on the stock. The company
benefited in 1919 from the widespread
retail buying which held up well dur?
ing the summer months, a period when
sales have fallen off in other years.
Dry Goods, ha? outstanding $18,818,700
of 6 per cent cumulative first preferred,
$6,725.500 of 7 per cent cumulative
second preferred and $14,985,000 com?
mon. ?
Exchange Offer Expected
Formal offer is expected to be made
shortly by the Pennsylvania Railroad
to exchange new fifty-year 5 per cent
mortgage bonds of the Pittsburgh,
Cincinnati, Chicago & St. Louis,
guaranteed by the Pennsylvania Rail?
road, for minority stock of the smaller
road, of which $19,292,956 is held by
the public. The remaining $65,567,155
of "Panhandle" stock is owned by the
Pennsylvania. It is understood that
the offer will be made on a basis of
$100 in bonds for each share of stock.
The P., C, C. & St. L. owes the Penn?
sylvania or its subsidiaries some $19,
390,000 for advances for improvements.
The Buying in Reading
Palm Beach is supposed to have been
a big factor in the market this week.
A well-known professional operator
who has been trading over a fast wire
to New York is credited with having
been one of the heaviest buyers of
Reading on its sensational rise since
Monday. The same operator was an
active buyers of rails on the move of
a fortnight ago. He is supposed to
have covered in a large short line on
the February dip.
The Call of the Ticker
Brokerage houses operating wires to
branch offices in the interior have been
handling this week a steadily increas?
ing volume of buying orders. This is
taken to mean that out-of-town traders,
who go to make up a large part of what
Wall Street is wont to call the "public"
is perking up confidence enough to get
back into the market. Somebody said
one time that "once a speculator al?
ways a speculator." The speculative
fever is difficult to combat once a kill?
ing is made. The big market of 1919,
when anybody and everybody made
money for a while, is still fresh in the
memory of most traders.
About Money
Optimism generated by the swift
ascent in stock prices this week has
not blinded the Street to possibilities
of further trouble due to credit condi?
tions. It would not surprise many
folks were the Federal Reserve Bank
of New York to mark up its official
rates of discount again. In fact, it is
understood that the directors of the
institution have the matter under con?
sideration. In connection with the
heavy payments being made through
the banks on account of Federal in?
come and excess profits taxes, due on '??
Monday next, the date of the first in?
stallment, it was pointed out yesterday
that the money market could not be
expected to benefit from any improve?
ment in the position of the banks such
as would follow from increased gov?
ernment deposits. The disposition of
the banks, it was stated by one banker,
is to do everything possible to re?
duce their indebtedness at the Reserve
institution, and any slack that might
develop will likely be taken up for
that purpose rather than in an ex?
pansion of Street loans. Looking
ahead, many leading bankers are said
to expect extremely tight money in
May or June. At a private dinner re?
cently given by a prominent banker to
a number of his friends it is under?
stood that this opinion was expressed
by several of those present in the
course of a discussion of the general
credit Situation.
Big Crucible Holdings Intact
According to a high official of the j
Crucible Steel Company of America '
none of the important holdings of com?
mon stock has been sold* It appears
in the light of this information that
che selling on the recent dip that car- :
ried Crucible to 189 represented short
selling mainly, plus weakly margined
long speculative accounts. It may be
recalled in this connection that Cru?
cible acted better than the majority
of the high-priced shares during the
fore part of the late fall in market
values, and never did move downward |
with the rapidity of General -Motors, i
Crucible was again a firm spot in the J
market yesterday, getting up to 232^
and closing at 228, up %, ?
Interesting But Untrue
It was reported in Wall Street yes- !
terday that the Krupps, of Germany, I
the steel organization which forged a !
large part of the? big guns that tried '?
to batter down the Allied line, were ?
planning to establish a selling agency
here. This was denied at the local :
agency of the Deutsche Bank.
?
Bank of England
LONDON, March 11.?The weekly
statement of the Bank of England
-hows the following changes:
TQ?al reservo. ?31.554.000 Inc. ?669 000!
t.hvulation... 102.SS7.000 Inc. 1 73? 000
Trillion. 115,084,-??O Inc. 2'39144a '
Oth. securities. 91.155.000 Dec. '"75'ooo
Pub. il.-posits. 18,554.000 Dec. n S84'd00
Other deposits 127,.'49.0<)0 Doc. 8'o7->'ooo
Notes reserve.. 31.912,000 Inc. 'tot'ooo
Gov. secur. 40.388,000 Due. 12.3:tM00
The proportion of the bank'p reserve
to liability this week is 21.62 per cent
last week it was 19.16 per cent. Rate of
discount, 6 per cent.
?-??-_
Stock Exchange Seat Sold
Robert S. Kilborne has sold his
membership on the New York Stock
??0!^*6 t0 E<l***d Talmadge Jr. for
$98,000, and Prank J. Conntllf Jr. p_r
We recommend
a BOND
to Yield About* 11%
Liste- on the New York %A
Exchange and SECURED by ,
MORTGAGE on the property ,1
a company with a LONG
DIVIDEND RECORD or? fc
Preferred and Common Stockt,
Full Details on Request
GLIDDEN, DAVIDGE
& CO.
Members N. Y. Slock Exchang?
20 Broad Street New York
Personal Contact
in China
?ft/TERCHANTS of China
?*?"" always give preference
?to firms and individuals with
whom they are personally
acquainted. This is true
likewise of banking. Por
handling your items grow?
ing oat of import or export
transactions it is important
that your bank bo perma?
nently located in China and
well and favorably known.
The Park-Union Foreign
Banking Corporation meets
both these requirements.
Its Shanghai office is espe?
cially equipped with every
facility for the prompt
transaction of business to
all parts of China.
YOKOHAMA
SHANGHAI TOKIO
PABJ8 SEATTUB
SA3-T FRANCISCO
Park'Union
WREIGN BANKING CORPORA?
56 Wall Street, New York
Paid Up Capital and Surplus, 12.250,901
Under discussion at the pr?s-'
ent time with a wide diver?
gence of opinion existing, and
many interpretations of there
suits of the new railroad law.
makes pertinent an analysis of
RAILROAD
SECURITIES
so we have prepare?! a three pae*
discussion, sizing up and inter?
pret ing the situation and, dlvidlnf
the railroads Into a comparison ot
classe?,
EAST vs. WEST
This Is a comprehensive article
containing tho best of prevailing
opinions _nj a brief discussion
on fifteen of th? Eastern Roads
and fifteen of tho Western Roada?
In addition, there are several other
regular features and discussions on:
American Sumatra ?. 8. Steamship
XJ. S. Rubber (Submarine Boat
Pressed St. Car Ryan Petroleum
In the Current Iss'je
MARKET OP1X10X
?ratis on request for B-it.
R. H. MacMASTERS & GO,
Afember? Consolidated Stock Exch. N, 7.
69 Wall St. New York
Hanover 9536 Ground Floor
T?TH
MARINE
TRUST COMPANY
BUFFALO.NX
EVENTIETH YEAR OF SERVICE
CAPITAL AND SURPLUS
SEVENTEEN MILLION DOLLARS
__?___u_???i__u??.TU r a.
National Fuel Gas Co.
Capital Stock - ? $16,493,000
Surplus.13,600,000
Surplus 73% of Capital
Average of over 20% earne
on Capital stock for past 5 year?.
Dividends 10% Annually
Financial condition justifies extra
disbursement.
Price on application.
74 Broadway - Neu? \oriij
Telephone t Rector 2721
Robinson & Co.
Investment Securities
E6 Eschar-?? Placa New Yof
afemeera ?"?to York Stock *xc*a*W*
Foreign Exchange
Tomorrow
The logical profit operatl*?
tally ?x plaine?! In Lett?*
K 32. ?Copy on application ta
J. T. Keane _ Co., 44 Broad 8t?
Mew York.
hated the ?eat of William A. ****
?M fo* ?98,000.

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New-York tribune. [volume], March 12, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924