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SECURITIES OFFERED AND WANTED iA.R?cefJr.&Co. Will Sell 10 Aluminum Co. of Amerloa 100 Amor. Chicle Com. ? I'M. 100 American Cjnnaimd Com. A rfd. 100 Air Reduction 100 Atlantic Holding . . At In? Port I'd Cement Com. 50 ?r?nk of Manlmllan Klirlit? 25 Battery Park Nat. lianl. 10? Korden. Co. Con?. "S5 child?. Co. Com. * Pfd. 10 Del., luck. ? West. Coal 60 F. W. ?lus Com. 200 Kioemaiui ?.liitrnein Pfd. 20 Fidelity Ph?nix lnsntwioe 20 firent Amer, Insurance 25 Humble Oil * Refining 23 IncerNoll-H.nnd torn. 100 .lollei ft Chicago K. II. 100 Klrfoy Lumber Com. & Pfd. 50 I .?liiRh Valley Coal Sale? 100 I,ord St Ta> lor Com. ft id Pfd. 100 Mahonimr Coal K. It. Com. 60 Mohawk Valley Co. j 80 >at. Ha?k of Commerce 25 >':it. .'ne! ('.ni - 100 Nat. OH of N. .1. Pfd. 200 N. V. State Kys. Com. ft Pfd. :?.. Nilee-Mement-Pond 100 Penn Coal ft Colic 2."> Royal Type Coin, loo Slnarer . tanatee turi?g * 10 Male Bank i 100 Texas Pur. Coal ft Oil. i 25 Tidewater OH j 7.. Winchester t'<?. Com. J.K.Rfce,Jr.&Co. Phono.* 4000 to 4?10 John. S6 Wall St.. N. T. A High-Grade Collateral Trust ?7? Gold Bond ?That wi.'l mature In 4 Vi roar*, returning the Investment tvlth 6?4 interest and leaving tho Investor in pos. .o.lon of Cap Ir.il Stock which will have IB cost him notfiir.p;. ?Trotcc?ei? par for par by notes of a highly prosperous Cltlea Service Subsidiary. ?Convertible Into a -widely known S'", Preferred Sio.lt. ??Offerc-*! with 10 Shares of Cap Ital Stock (no par value) at par, ?1,000. ?Fully described In our circu? lar which wo will frond on re qucst V-100. .J exchange Place New York ; ?? s S iQ-16 // i :o: er. BUY?SELL 1 MIDWEST REFINING CO. MERRITT OIL CORPORATION ELK BASJN PETROLEUM CO. INTERNATIONAL PETROLEUM i IMPERIAL OIL CO., LTD, SAPULPA REFINING CC. HOUSTON OIL CO. ATLANTIC LOBOS OIL CO. MAGNOLIA PETROLEUM CO. : NATIONAL FUEL GAS CO. COSDEN & CO. GULF OIL CORP. | HUMBLE OIL & REF. PRODUCERS & REFINERS CORP. j CARLRPFQRZHE.MER&CO. Dealer. In Standard Oil Securities Phones 4860-I-2-3-4 Eror.d. 25 Bro.nl St., N. Y, Centra! Agiiirre New Gorfchaux Cum. & Pfd. G??an?anaimo Michigan Santa Cecilia New Mkt?E L&ckenhm?L & Coi 4*2 Bikini Streck '?>io-w,?tvrl*^? COCAOO DETEDIT PHILADELPHIA PITTSBURGH Texas Pacifie Coal & Oil Eastern Steel Central Aguirre Sugar Humble Oil Indian Refining I Aetna Explosives 6s \C.Kerr&Co. 2 Wall St.. N. Y. 'Phono 6780 Rector. We have issued a special letter on a company operating in this field!. - Copy on request D?ws?h ?*.?. 40 Wali St. Tel. John 6444 American Piano Com. American Thread Pfd. Pittsburgh Steel Com. FREDERIC H. HATCH S CO. ,., ? . l>tnb?sJied lis* I (tone Bector 6.1.0. 71 B'wny, \t r- * on, i * ii ' i* Marl; A. Noble Theodore c. Corwin NOBLE & CORWIN iS Broad 81. ?Jew xerk Gt. Amer. Ins. Safety Car H.&L, Lawyers Mtg. Roya! Bak. Pfd. Telephon* ii?l Broad j j E. W. Bim Nation?! 5u^ar li Safety Car Ht. * I.t. Santa Cecilia Sujar I R. J. Reyuolda Tofe. Columbia Trust S?o?CjProsreraDofy I Harria. Forbes & Co. and the National Ott? Company (ire offering a new iseuo of .3,600,000 Provine? of Quebec, t per ?ept told bond?, at 05.8 . and Inf. rest, to yield 7 per cant, The bond? are due March 1, IMI. and axa a direct obligation of tha Pnmuae ai Quebec. ? Asked inn Public Utility Sccurltlei Stock? Bid Am Light & T com.187 do pf . 89 92 Adirondack 151 Power com.... 11 14 do pf . 75 79 ?Am Oaa & Electric com.124s*. 127 do pf . 3.1 10 Am Power & Light com. (53 ?7 do pf . 6? 72 Am Publlo Utilities, com. 7 U do pf -. ? ~- ?5 Am Waterworks Electrlo. 2 4 do participating pf. 3 do ,1st pf. 47 Carolina Power & Light, com.. 34 Cities Service com .386 do pf . 70 do bankers' certificates. 39% ?41 do 7 pc series 31. lSCO.154 do 7 P c serles C, 1966.100 Colorado Power com. 14 do pf . P0 Commonwealth P R ?& L, com. 17 do pf . 39 Denver Gas A Electric gen 6s.. 87 Electric Bond & Shmro pf. 8? I Empire District Electric pf... 65 Federal Light ?fc Traction com r, do pf. *'' . G.-is & Electric Securities, com.300 do pf . 8 0 Northern Ohio Electric, com... ? do pf . ? I Northern Ontario L ?fc P. com. 10 do -pf . 50 j Northern Stales Power com- 50 do pf . 8"> . Pacific ?la.-? ?fc Electric pf. 83 ; Republic Ry & Llgh Co, cotm. 17 ?lo ?if . 64 ! Southern California Edison com 8R do pf . 9!? .Standard Gas ?fc Electric com.. 18 | do pf . 39 Tennessco Ry, L & P. iom. 1 ?lo jif . 6 united Light ?ft Rys, com. 24 do st pf . 62 : Western Power, com . 17 Ho pf . 67 Bonds I Appalach Power 1st 6s. 65 I Cincinnati Gas *. Elec 6s, 1956. so Col Gas & Elec 5s, 1927. 79 Colorado Power, 1963 . 7;> , Dallas ES leo 6s, 1922. 99% East Texas Electric 5s, 1942- 75 do 7s, 192! . 99 ; El Paso Eleo col 5s. 7? I Great West Power 6s. 1?MG- 79 ' Midwest rtllltles 5s, 1925. 85 Miss Hiver Power 1st 5s. 74 ' .North Ont Light <<i PCs. 68 I North States Power 6s, 1920.... 8 1 653 37 89? 71 103 18 !)3 90 66 7 47 400 85 20 66 14 56 55 88 86 in 68 88 103 30 41 3 9 19 67% 70 81 8 0 12 100 83 81 90 i>S ?Ex dividend. Sugar Stocks Bid. Asked ; Card-Am. . J8 do prcf. 70 1 C Aguirre. 94 I Fajardo .'.MS i (it West. .490 do prcf.113 Guanta'mo. 77 ; Mat-Am .. 10 Bid. Asked. ,Mat-Am pf 70 76 80 ^Michigan.. 11% 12 V? 06 National .160 163 153 IN i Niqueo.250 520 S Cec new 13 14 117 \ do pref. 75 82 78 (Savannah.. 46 49 15 do pre';. 92 95 Chemical Stocks Am Cyan. 25 Graselli . .155 do prcf. 99 do 71 re;". 55 By-Prod .. 93 Cossm Co. 45 Dow Ch., .250 Du PCP. 1) led Ch-. ni. 100 ??'?> prcf. ? - Steel a Am Bra?-?. 2 22 Atlas Pw.155 do prcf. 84 Bab & W.I 16 Bliss, E W.100 Can F?cF.195 Carb Stl. . 94 do 1 pf.100 do I'd pf 70 ColU A... 54 D P Pow.315 *E.\ dividend 1 Con Foil..250 G W Hms.170 do pref. 98 J S Young.130 ?Jo pref. 95 MacA.Sc F.155 P R-A T.135 30 175 100 60 09 10 105 99 Hook Elec. 65 do pref. 65 Ky Solvay. SO 1 *Mec Co p 91 Merrimac.. 83% Mulford Co 53 Nisg Alk p 95 Semet C, .175 .Solv Poe. .ISO 70 70 10 97 87% 56 100 nd Ordnance Stocks ?ast S!eel. 37 imp S ?t I 25 do pref. 70 Here P..215 ?do pref 98 Niles B-P.113 do pref. 98 Scov Mfg.435 Thorn Iron 30 Win Cor..400 Woodward. 44 228 163 87 120 450 110 57 330 obacco Stocks 325 ISO 102 138 100 165 110 RJ Rey A.560 doser B.490 ?dopref.105% Weym B..170 do pref. 96 Univ Leaf.140 Miscellaneous Stock? An? Chicle 75 7 8 do pref. 75 78 ?Am Leath 55 70 ?do pref 91.% 98 , Am Mfg. .165 172 do pref. 87 Va 90 Am M&F.100 Arn Tb pf. 3% 4 Am Typ IS 42 46 A V T N.T 2? 35 A W c pf 91% Atlas P C 65 BB&S 1 p 80 do 2d pf 65 Bor C Mk.108 Bush T pf 73 Celluloid .350 Childs Co. S?! -i., pref. 95 City Inves 70 Cvl V pf. 95 II I. & W.1G5 Drap? i- C.141 ? R 1st p? 95 Int Sil pf. 94 *Ex dividend. 98 li llO 355 91 100 99 175 I 15 99 98 Nat Cash. 120 Lima L pf 90 N .1 7. wst.290 N Co 1 pf.100 O'Neill pf, 98 Flielpn D.230 Phil J Cor 61% do pref. 91 P & W pf 9.". RReis& C. ]5 'do pref 83 Ry Bak P.J30 do pref. 85 Singer Mg.150 S L IM&S 43 Stoll S pf.lOo S D F pf.100 Stern B p. Un; T.(iPC.vOn.107 Valvol pf.100 V Raalt In. 40 do prof. 80 W & ? pf.100 ?Vale & T.265 230 10.'! 116 301 450 35 48 590 515 !"?;% 380 300 130 95 295 J0:i 91" 250 63 93 37 lib 88 155 47 305 103 108 110 104 ?15 S., lo:, New York Bank Stock? America ...605 Atlanta ...215 Am Exch...295 Battery .. . .205 Bowery ....420 Bryant P...150 Bway Cert.l?O Bronx Nit. 160 Butch & D. 35 Chano .455 Chat. & P..295 Chelsea Ex. 135 Chemical-.. .685 Cltz Nat., Citv . Coal & I.. , Colonial .. .350 : Commerce .337 ? Columbia .. 175 Corn Exch..430 Cosmop'tan. 110 Com'cial ??.,415 Com'wealth. 221 i Cuba .170 : East River.. 1.60 Fifth Nat.. 160 Fifth Ave.. 900 ' First Nat.. .930 Foreign T B. 80 38.-, Garfleld N..230 Gotham_200 Greenwich .275 Harriman ..360 Hanover ...805 Industrial ..205 Im & Trad.550 Irving Nat,385 Liberty _400 Lincoln ... .375 Manhat Co..350 Mech & M. .400 Metrop'tan .340 Mutual _490 Merchants ..230 New Neth. .200 N Y" N B A.460 Park .730 -?Pacific .... 135 450?Produce En. ? ?(Public .345 Seaboard ...650 r.05 215 160 100 160 4f,5 305 600 395 23; 230 ISO Second ... .HO State .210 23d Ward.. 150 Un States.. 180 Union Ex... 175 960 Wchester A.200 i'OYorkville ...175 170 215; 380 820 r.so 395 415 285 ?60 240 210 4 80 7H0 500 Trust and Security Companies Alliance ... 80 fAm Trust. ?? Am Surety. 73 Bankers . . .375 Bond ,v M.220 Bklyn T Co.50!) Cent Union. 400 Columbia ..345 Commercial 150 Empire Tr. .300 Equitable ..300 Farm L& T.130 Franklin ..240 Fulton _250 Fidelity _330 G iterant y . .367 ilntni'.ton . .255 Hudson T. .165 Kings Co...640 Law Mtge. .125 90 j Lawyers T.. 120 ? Lincoln Tr. .175 78;Manufac'ers.205 "8". Mercantile .310 230|Meti-opol ...28"i 515 Mtge Bond.. 87 4!0iMutTof VV.103 355 Nat Surety.200 160!:N Y Title. 135 - \T York T. .625 305 N Y L1&T.725 4.l0'Proj.-;ea ....275 250 Realty Asso.105 260 Title G & T.380 210 Un StatesN830 373 U S M & T.405 265?U S T Guar S0 ? WiMtcnester. 130 665 W & BT&M.165 135' 325 295 93 125 210 115 745 IIS 860 415 85 140 j 175 I tSee Neiw York Title and Mortgage. ^Includes American Trust Company ?tock?. Insurance Companies Am Alllance.270 City of NY.175 Con'nwlth. .300 Continental. 75 Fid & Phoe. ? Franklin .. 85 Glob? & R.S0O SOOGreat Am..290 ??Hanover ... HO ?25 Home .550 SO Nat Liberty.180 635 Niagara .. .230 90 Sluyveaant.. 50 300 560 Standard Oil Stovks Anglo-American Oil Co. Ltd. Atlantic P.ellnintr Co.1530 do pf . H3 I Borno-Scrymser Co. 435 Buckeye Pipe Line . 100 1 Chesebrough Mfg. Co. eon?.... 235 do pf . 106 Continental Oil Co. 605 Crescent Pipe Line Co. 33 Cumberland Pipe Lina Co. 145 'The Eureka Pipe Line Co. 3 40 ? Galena Signal Oil Co. pf, new... 94 do pf old . 100 do <-orrr.:..,...... 70 Illinois Pip? Une Co...'.'. 179 Indiana Pipo Uno Co. loo International Pet. Co. Ltd . ?*"% Bi?1._ Asked. 27 !i mal Tran 3670 1 14 4S0 103 240 108 625 35 15S 145 98 305 74 1S3 J02 4:;% 3 J . -i P )-. nn . ?! Line C? ,4a Southwest Penna ripe Lines.. Si Standard O? <'o of California. 35:; Standard Oil Co of Indiana... 870 Standard Oil Co of Kansas. . .. 625 Standard Oil Co of Kentucky. 425 Standard Oil Co of Nebraska, eso Standard OH Co o? NaT Jereajr 860 ??? do pi ,.,..,....,,...,.,... 118% X14 Standard Oil Co of New York. 467 *T8 Stand??pd Oil - 90 "???$ 8S0 K?0 450 640 I5S Co ?t om?.?? ?1? 111 I do pf .,.107 10? Swan A Finch Co. 96 100 Union Tank Car Co. 184 128 do pfd -.. 100 10? Vacuum Oil Co. 440 446 t Washington *>il Co. 87 42 Miscellaneous Oil Companies Atlantic Lobo? Oil Co., com.. 60 do pf. 116 Co. den * Co. 0 do, now . 44 % Elk Basin Petroleum Co. 10 Houston Oil Co com. 115 Imperial Oil. Ltd. 120 Ma. no?a Petroleum Co.*440 Merritt Oil Corporation . 21 .Midwest Reflnimr Co . 172 Northwest Oil Co. 40 Producers & Refln Corp com.. 9 Sapulpa Reilnlng Co..... 6% 68 180 46% 10% 120 325 460 21 H 174 CO 9'.-4 6% New York City Bonds Security, rate, maturity Bid Aak Yield Inter 4%a, 1967..._ .lo do do do do do do do do do do 4 ?is, 4M.?, 4 H ?, 4%8, 4%8, 4 H?. 4'?H, 4', ??S, 4s, 19 4.'), 1958 4s. l!ir. 96 1065. 96 1983. 96% 1967. 91 1966. 19G4. 1962. 1960. 1960 OP 1930. 9. 80% 90% 90% 90% 90 % 86% 86% 8 6'A 96% 96 % 97 96% 91 91 ?l'i 81 91 87 ?4 87% 87% 87 92?; 80 80 4.75 4.7S 4.68 4.66 4.67 4.67 4.73 4.73 4.74 4.74 4.74 4.70 4.71 4.71 4.75 4.G1 4.66 4.66 4.80 ? 4.60 ? Reg* 4s, 1965-1966. 85% do 4p, 1936. 60 ?nter 3%s. 1954. 75 Coupon 3%s, 1954. 75 Reg 3%s, 1960-1964 Inc.. 4.85 do 3%s, 1940-1950 Inc.. 4.86 Reff and coup (aerial) 4%s, 1919-1930 ino . 6.00 Ree* and coup (sorial) 4%s, 1919-1930 Inc . 6.00 Reg and coup (serial) 4 H*. 1919-1932 Inc . 6.00 4.60 ? New York State Bonds Issued )n coupon and registered form ti o^ Interchangeable. Coupon honda regii 1 .rabie. Security, rate, maturity Bid ..si? Yield Cun.il Im? 4%s, 1964_104 105 4.25 Highway Imp 4?is. 1963.114 103 4.25 Canal Jmp 4%?, 1965_99 .100% 4.24 Highway Imp 4V.s. 1965.. 99 10014 4.24 Barge Can Ter 41*s, 194S 99 jno'4 4.24 Highway Imp 4s, 1967_95 i'? 4.16 Canal Imp 4s. 1967. 96 97 4.15 Highway Imp 4s, 1960 1963 Inc . !>B 97 4.15 Highway Imp 4s, 1958_ 95 97 4,16 Canal Imp 4s, 1960-1962 inc . 95 97 4.16 Barge Canal Term 4a, 1943 and 1946. 95 ? ? Canal and Highway 3.% j 19561959 . on application. "Markets in Ball i more Opon. High. Sales. 222 Cosden I 280 <lo pf. 4i? j 3225 Celestino .'..' 20 Con Power. . . 99% 58 Con Coal.. 82 660 Davi .on Chem 39 % 100 Blkhorn pf. . . 42 i io Mous Oil pf:. psi. ixoo lndiahoma ... 9 vo Mil Casualty.. SO i 0 New Am h Cas. 23 '? 30 l'a Water 1W x4 50 United Ry..., 1 I ?; Bonds . ? 1000 Con Pw 4'?3. 7 * 20oo Coaden 6:i B. . 94 % 20(10 Con Coal ?is. . 77 'j 2000 M?n Val Tr 7s 0r> ? . 3000 in Ry income 43 '. 6000 do 1st la... 02 Boston Sales, loo Am Zinc. 25 Adventure 40 Ahmeek . 67 10 Alaska . 2 H 28 Allouez . 35 Vi 1 Anaconda .... 63% 60 Arizona Com?. 12% 5620 Big Heart_ 31 240 Cal & Arizona o4 9 Cal & Hocla..360 89 Vi 42* 8X',-i Low. Last. 9'i 91, 4 Vi 4% 90.i 99% S 2 s ;; 3S<>. 4 2 88 % 9.4 SO 22'i 8 :? % 4 2 8$ % 7S 94'i 11' 95 % 4 3 '? Opr-it. High. Low. Last. 19% 19% 19 ?i 19% 4 1 0 Car 60 Copper Range 43% 400 Davis Daly... loi, 1563 East Hurte. . . 14 ?, loo Franklin . :; 'i 100 Holvetia . 3% so Indiana . 70 285 Isle Koj'ale. . . 33 6 Mason Valley. _ i lo Mayflower O .: sv; 25 Michigan .... 7% 13 Mob,-iv. k . t*S 520 Now* Cornelia, 21 . 14 New Hiver pf. S t 17.", Nipisslng .... n 6,10 North Butte.. 17 20 Osceola . 4'J 1? Old Dominion 3.'! 1 0 QuiiKV . 6S 90'H?heca .;. 16 10'St Marys. 49% 36 .Sup ,?- Boston 4% 75 Trinity .,*..*. 2 15 l.i s Smellers pC 47 ?? 100 Utah Apex v. 2% 1 2G Utah (Von. . . . . ?**, 100 Utah Metals .. 2.'? loo "\'?ft o? ia . :: ij 5 Wyandot . J % )? al I roa ils 6 F?os Si. Albany. 130 24 Boston Kl . v . . 04% 3 HO Pf . Si") 10 Bos .<? Maine. . s.*. 1! Boa Sub KI pf. 6% 280 Mass Else pf. . 10% 51 N Y & N 11. .. ,..'.* 14 Northern N li. SI o Old Colony ... SS .li 35% 63% 12 .4 11 04 350 23% 43% 10.. 16% 3 Vi 3 Vi 67 2% 84 63 Ti 121, 10% 64 300 2 2 Vi 43 Vi 10', 14% 75 07 21.. 35 G3% 12% 11 64 360 22 *? 43% 10% 3.". 8 Vi 1 ',* 68 21% S. im 16% 40 ;; :i 68 15% 49% ir.o 64 ?' 130 64' 1-.0 64 \i 5 'i Miscellaneous 718 Amer Oll . 6% 7 S% 6% 60 Amoskeag-162 162,4 161 161 2 do pf . 81H 81 V?i 81 Vi 81 Vi 60 Amer Pneu .. 1% 1 Vi i'? 11? 86 Am Sug pf-116% 115% 115% 115% 310 Amer Tel _ 98% 08 Vi 97% 97?* S2 Amer Wool pf.102% 102% 102 102 200 Easit Boston .. 5% 6% 6% 6% 10 Eastern S il pf 82 82 82 82' 100 Eastern Mfg. .. ?l% 3900 Bid .r . .10 0 2 Fairbanks .... 69 26 3 i Vi 61 Cort?n . , . 1700 Gray . 10 Int Port . 18 165 Int Products . 20% 20. Island OU .... b 1 ,oe 1 0 % 0! 82 32 31 % 69 26 26% 18 30 li 6 r'g 1 0 \ 82 31% 68V? 34% 13 i o3; 81% 69 26 3 6 '.4 18 ,*:0 6 A 10% 71% 9:i Mass Gas .... o do pf . 26 McBlw'n 3-n pf 98 PS 9H ?is 5 Mergenthaler .133 133 13" 333 ? 270 Mex luv . 4 1 4 1 4:? 4:j s? , 4 00 Xa t Leather .. 3 ( It 13% 13% !.. N E Tel . 87 87 SS 86' 600 Ohio Body ... 32 83% 22 .",2 C65 Orpheum . "0 30% ?o 30% 3 Punta . 85 85 S5 85 S360 lloot . 49% 61", 49 % 61 195 Reece But Hole 15% 16 16% 16 850 Slmms . 1SV4 18% 18V? 18U 62 t?wlft .123% 123 Vi 12:;% 122% 45 do lntl . 45 45% 45 45% 35 United Drug .135 135' 335 135 3 United Fruit .200 200 399 200 107 United Shoe . 48 30 do pf . 20% 400 Ventura . 17% 350 Waldorf . 20 i? 2200 Waltham _ SS C?O Walworth _ 2?% 290 Wick Wire .. 29% Bonds $2000 C .1 & V- 4s. .. 67 4G% 25% 17** 20% 3Sij K7 46 25% 17% 2 0 V* 46 251 17% 20% 38 U Boston Curb Bid Ariz K\tn..l2 Ariz Sliver. . 1 % Blk Hawk..SO Bohemia .. 1 % Boh & M on. 7 4 Calaveras ?? Chief Con. . 4% Con Copper. 6 Crown Itsv.30 Crystal naw.25 Denbigh ...26 Eagle B B.. 8% Fortuna .... 3 Uadudon ... 1 Homa OH... 10 Houghton ..80 Iron Bios...30 Iron Cap ..11 Jerome Ver.4 0 La Rosa . . .35 Majeai As I 18 Ask | Bid 14 i?fex Metals.15 is 1 %(Mld Moss. . .55 65 SO i.Moj Tung.?!.10 14 1%'Monarch ...? 75 70 '\'at L & Z. 4 9 1% Nev DoUB-.lS 17 4?VNew Baltic. S 4 5 .??Nixon.14 17 40 Qnondaga ..16 40 SO Orpheum ..31% 81% 85 Pilgrim ....15 17 2%'Pioneer ...80o 1,00 8 iRngr Betr,.? 40 1%! Rainier..! 1-1? 1 3-18 12 ISvn Metals.23 24 70 3 W Ml f p. 4 6 40 [Silver Reef..17 18 nVtlTexana ....23 60 U Verde Ex.871 25 38% Cli?ca2? S2 Amer Rad new 82% 83V4 2585 do rights... - 2 20 do pf.116 116 12U? Armour Leaih 17 17 U 05 do l.f. 04% 94?* 900 Armour pf. . .. 99% 100 360 Booth Fish... 32% 3 3% 10 Beaver Board. 65 65 125 Brisioe . 68 HS 70 Bunte Bros... 17% 17% 13 Ch City Ry, .. 60 60 800 Ch Pneu Tool.106% J08% 105 ?80 Cuda'.y .100 100 100 i ?. 116 1 6 % !)4"j 09 % 12% 65 08 17 50 116 1 6 -.; .* ?H 3 00 13% 65 63 17 60 108 100 80 Com Kdlaon..l07 1#T 108% 106' ll% 11% 11 . 460 Cont Motor SO Daera pf.100V? lftOVi 100% 100% 60 Edm & Jones. SIVj 81V, 31% 31% 400 Hupp Motor.. 18 18% 17 Vi .100% : 60 Harm S0OO J l C 1" do 3 Plow, ?t Pf. 90 21% m 91 21% 91 7:* 6% 27 t n ? ?rpheuni .... 3? ?? 7 1 Ou.ik On i s pf. 9 0 % 66 Roo Motor... 27% 140Seara Roeb...2S5 3600 Shaw. 79 6200 Stew Warner. 44 H 700 St Oaa & Eleo 39% ?5 do pf.,.41 700 Int Swift.,... 45 ?O?wttt * C0..1?? $35 84 45% 20 41 27% 27% 234 235 78% 83 44% 44% 19% tO 41 41 4? ilTiwmywB .? Ml* ??%? >?S (1% *m Federal and Joint Stock Land Bunk Bonds _, ,. Bid A?k TIeld Federal Farm tioan 80, Federal Farm Loan 4%B, ? . . _? 1939 on 1914. 91V4 ?7V4 ?." Federal Farm Loan 4%s, . _t 1938 op 1983. ?6V4 ??H 4n Federal Farm Loan 4%s, ~mi . _? 1937 op 1932. MU 1714 ??" Joint Stock Land Bank 8s, .... _ ,, 1939 op 3924. 9Tft ??V4 ??" Joint Stock Land Bank 6s, ...? i? 1938 00 3 923. 8644 98% ??*? 8hort Term Securities Security, rate, due Bid Ask Yield Am Cotton Oil 6s, 1984.. 96 ?6% ???? Am Tel ?fc Tel 6s, 1922.... 95H 96% 7.90 do fis, 1924... 94 04 ti 7.60 Am Thread 6?, 1928. 99U lOJ? i'!5 Am Tobacco 7?, 1920.lOOVi 100% B.Jt do 7s, 1921.100?4 101% ??!? rio 7?. 1982.100 Vi 101 ?4 6.40 do 7s, 1923.100V4 301'? n.BO Anaconda Cop 6s, 1929.. 94V4 0B'.? ??" Armour ennv 6s, 1920-24. 99% 101 ~?~ Bethlehem Steel 7s. 1922. 99% 100 7.00 do 7s. 3923. 99% 100 7,00 Can Pacino Jly 6s, 1924.. 94% 9B% 7.40 Central Arg Ry 6s, 1927.. 82 86 -? C, B ?fc Q (Joint) 4s, 1921. 95% 96% 7.90 C C C & StL. 69, 1929_88 89 7-80 Cub-Am Sut? 1st I 6s, 1121 99% 100 6.00 Cudahy Packing 7s, 1933. ?9% 100% ?.SB Del ?fc Hudson 6s, 1920... 99 99% 6.00 Federal Sug Kef 6s, 19 24. 96 96 .4 '6.90 Gen Electric 6s, 1920. 89% 100% 6.76 Gt North Ry 6s. 1920_98% 99 7.06 Gulf Oil Corp 6s, 1921_87% 99 7.05 do 6s, 1922. 96% 98% 6.65 do 6s, -1923. 96% 98% ?.60 Hocking Valley 6s, 1924.. 92 96 7.46 Interb B T eonv 7s, 1921. 70 74 -? Jacob DoM Pack 7s, 1920. 99% 100% 6.40 do 7s, 1921. 99% 100% 6.70 do 7s 1922. 89 100 7.00 do 7s, 1923. 99 100 7.00 Kan City Ter By 6s, 1923. 97 98 ?-?{O Kenneoott Cop Cor 7s, 1930 96% 97 !i 7...0 Lac O L 1st ?fc ref, 1920 96% 96% 7.50 Llg ft Myers Ton 6s, 1921.. 98 9S% t>.8? Mo I In* Plow 7e, 1920_ 99% 101 5.95 do 7s, 1021. 98% 101 h."0 do 7s, 1922. 98% .101 6.4.1 do 7s, 1923. 98% 101 6.55 do 7s. 1924. 98% 101 ?60 N Y Cent It R Cs, 1920.. 99% 99% 6.95 Philadelphia. 6s, 1922_ 94% t?S'.-i 8-80 Pennsylvania 4%3. 1921.. 96 % 9T - Procter ft. Oambl'J 7s. 1921.109% 100% 6.-0 do 7s, J922.100 Vii 101% 6.2S do 7s, 192.'!.101 101% 6.35 P Ser Cor N.T conv 7s, 1922 86% 87 % 14.40 It ,T Reynolds Tob 6?, 1922 98 98% 6.70 Soutfi?rn Ky Cs, 1922.... 93% 94% 9.15 StP Un l> Kuar 6%s, 1923. P5% 97 6.45 Swift ft Co 6s, 1!?21. 98% 99 6.b0 Tojcas Co Vs. 1!)2;J. ?9% 99% 7.15 "?Vest In .Sugar 7s, 3929.. 93 97 7.45 Utah Securities 6s, 1922.. 86 _ 87% 11.90 Other Cities 60 Temt Prod A. 42 42 41 % 41% 1200 Pn Carbide... T4 74 73% 73% 15 Cn Paper Bd. 25 25 25 26 3400 Un Iron Wks. ?17 69% 66 ?9 900 "Wahl . 41 43 41 41% 40 Wrigley . SO SO 80 SO Bonds $1000 P Gas Ref oa 65 (5 65 65 Detroit 170pCont Motors... 11% 11% 11% 3.1% 65 Detroit Bdlson.110% 110% 110 110 6 0 Ford of ?:an...4L'2 422 422 422 B0 Federal Truck. 77 77 77 77 600 Noble Oil ft G 1.66 1.67 1.65 1.65 2600 Park Mfr Car. 27% 2?% 27% 27% J0O do ).f. 95 9S 94 '/4 94% 950 Reo Motor Car. "7% 27% 27% 27% Philadelphia 335 Am Stores. 43% 44 43% 44 59 Am (?as. 50% 50% 50% 50% 216 Am Kys pf... 36 f,8 5'i 58 10 Am ?lor ex dv 92 02 92 92 385 Elec Stg.117 31714 117 117 61 Jns Co N A... 28 28% 28 23% 1930 Lake ?Superior. 19% 20 in% 39% 10 Lanston Mono. 81% 81% Sl% 81% 10 Lehlgh Nav... 61 64 64 64 65 Pha Co. 6% pf. 36 35 3 3 86 244 Pha Bap T t o 24% 24% 24% 24% 141 J'ha Flee. 25 25 24% 24% 200 Ton Mrrg. 2% 2% 2% 2% 4 United Co N J.172% 372% 372% 172% 110 Union Trac- 34% 35 ,14% 35 1647 United ?Sas Im 50 % 50% 60 5? 10 Warwick I ft .S 8% 8% 8% 8% 60 W Jer ft S S. 40 40 40 40 Bonds $2000 Bald Loc 1st ?a 96'? 96% 96% 96% 3000 E ft P Tr 4s.. 63 63 63 63 1000 Lg Vly con 4s 72 ?2 72 72 7000 Pha ??- Erie 6s. .99 !?:? 99 ??9 2000 Pha EI Int 6s. 9 ! % 91% 91% 91% KOii'i Beading 4s. 7!? 79 7S.>| 78% 1000 Un By Inv 5s., 7? 70 70 7? Pittsburgh SO Amu. Vit Prod. 15 15 15 16 60 Amn Wnd G M120 320 IL" i CO 6775 Arkans ?."?as... 32% "3 82 ;:2% 105 Barnsdall Crp. 49'? 5?) 43% 00 76 Carbnbydgn pf. ?".% :;% 3% 3% 200 Car.nogle L ft Z 7% 8% 7% 8% 245 Guffey Gillsp... 3::'^ 2::% 32% 32% 195 Indpnt Bwg pf 13% 13% 13?, 13% 460 Kay County G. 1% 1% 1% 1% C?."0 Marlsnd n/g.. 5% 6% 5% 5% 15 Mfrs I; ft 11... 59U 63?. 09% t>n% 100 Ntl Fproof orn. S% 8% 8'i 8% 31 Ohio Fuel Oil.. 81% 31% 31 31% 916 Ohio J.'uel i^np 5:.'?a 63 &2'? 62% 130 Oklahoma Gus 41% 41% 41 4 1 20 1'..ii.i K K. 4::u 43% 4.1% 4:1% OWOtj I'srii Jerome... 11 11 3 1 11 20?) I'kIi Oil ft Gas 15 15 15 1 .i II Union Natrl G..125 125 125 125 20 WesthouseAB..114 114 J14 114 20 WeslhouseElec 5.'!% 53% 63% 03% 100 Wesl 1'i-nu \v P '.i .0 9 3 Am. International Assets Increase Over $40,000,000 Record Earnings in 1919 Yield a Surplus Equal to $9.43 a Share on Out? standing Capital Stock For the calendar year 1919 the American International Corporation re? ported record gross and net earnings and an increase of 840,626,099 in its total assets, the latter on December 31 standing at $83,687,802. Of this sum $48,396,145 was in the form of current assets, compared with onlv $12,416,940 at the close of 1918. Last year's surplus after all charges, including Federal taxes, was $4,719, 167, equivalent to $9.43 a share on tho $50,000,000 capital stock outstanding, contracted with $7.44 a share earned in 1918 on $49,500.000 stock, and $7.60 a share in 1917. Gross earnings from op? erations in 1919 totaled $8.153,111, which was brought up to $12,327,780 by the addition of $4,174,668 of other in? come. Deductions included $6,064,136 for operating expenses, $611,204 for do? mestic and foreign taxes and $933,272 I for interest charges. The gross earn-! ings compared with $7,846,547 in 1918. ! Of the. current assets shown at the end of tho year $1,817,794 was in cash, i $5.930.000 was out on call loans, $7, ?127,860 represented bills receivable, ! $12,936,S68 was due from customers j and $5,214,496 represented other ac- ! counts receivable, while inventories were valued at $15,049,126, or practi? cally double the totaj shown on Decem? ber 31, 1918. Charles A. Stone, president, com? menting on world conditions, in the annual report said that of the $4,600,-, 000,000 trade balance of the United States at the end of the year probably one-third was represented by foreign credits. Referring to the corporations invest-.1 ments in other companies, Mr. Stone ; stated that the American International has retained its interests in the Inter national Mercantile Marine, the United ; Fruit Company and the United States i Rubber Company. New enterprises in- i eluded the absorption of the Allied | Sugar Machinery Corporation, the Allied Construction Machinery Com? pany and the Home Co., Ltd., by the Allied Machinery Company of America. With regard to operations at the Hog Island Shipyard, it is stated that dur? ing.the year there were launched sixty six ships, of which sixty-four were de? livered to , the Emergency Fleet Cor? poration. These ships, of 7,800 dead? weight tons each, gav*e a total delivered by the yard during the year of approx? imately 500,000. -? Bethlehem Steel Earned 19.8 P^C on Common The complete pamphlet report of the Bethlehem Steel Corporation for the calendar year 1919, issued to stock? holders to-d?*y, reveals few changes from the preliminary figuras issued is Janu?rjr, when it was shown that ?ara? tag? fo? the ?te?m? stock war? ?*wr*? NEW ISSUE , 130,000 SHARES Alvarado Mining & Milling Company (of Maine) CAPITALIZATION Authorized 1,200,000 Share? Iswied 350,000 Shares Par Value $20.00 Per Share Tk. r?mr.?nv t... no bonded indebtedness except $51,000 First Mortgage Bonds remaining from an J?.w?X?Le of $? 000 000, the retirement of which will be effected on July I, 1920. It ha. no ;:?.?Tre?r?feUrre5 s?idT Aft? giving effect to the present financing, the Company will have net quick assets in excess of $2,000,000 for the further enlargement of its operations. The Company was organized in Maine in 1910 and is protocoled in the Republic of Mexico. The property is one of the world's great silver mines.. Production for 1918 and 1919 was in excess of 2,000,000 ounces of silver each year. The Company maintains a large engineering organization for the investigation of mining enterprises throughout the world. It will be noted that there arc 850,000 shares unissued, which remain available for the acquirement and development of additional properties. A. J. McQuatters, President of the Company, who has successfully developed and .operated the prop? erty for the past ten years, will continue to direct its affairs. Mr. McQuatters introduced modern mining and milling practices in the Parral District of Mexico, and was the pioneer in northern Mexico in the treatment of ore by the cyanide process. After a thorough investigation, under the direction of W. Rowland Cox, mining engineer, covering a period of six months, the Mexican International Corporation has taken a sub? stantial stock interest in the Company and is represented on the Company's Board of Directors. The following are excerpts from c summary fcj> President A. J. McQuatters from his letter to the hankcrst Properties and Location: The Company owns four groups of mines, namely, The Prese?a Group, The Palmilla Group, Las Cruccs-Caba defia Group, and Las Animas Mine, which, including mill site, comprise ap? proximately 700 acres, situated in the District of Parral, State of Cliihi?ahua, Republic of Mexico, within five miles of the City of Parral and 517 miles by rail from LI Paso, Texas. Plants are of modern steel construction, and are operated by hydro-electric power purchased under contract. Further than the above, the Company has'recently acquired the Terrenates jVfine, which has a vein extension of 1,000 feet on the Veta Colorada ledge and i. located about 2,000 feet from the Company's Prese?a Group. Ore Reserve?: The ore reserves estimated us of November 21, 1919, by Franklin W. Smith, a mining engineer, amount to 2,086.000 tons of positive ore vi an average grade of 9.2 ounces silver, and 2,592,000 tons of probable ore averaging 8.7 ounces silver, a total nf 4.678,000 metric tons of an average grade of 8.9 ounces silver. He considers that there are also excellent possibilities for the development of additional ore over and above that now in reserve, not alone in the Prese?a Mine, but in other properties of the Company in the Parral District, particularly the Palmilla Mine. Development on the lowest level shows that high grade ore occurrences, similar to those previously mined above, will likewise form a part of the tonnage to be hereafter mined below. A grade of 12 ounces is expected in this horizon, with consequent larger profit from such ore. Production: --The Alvarado Mining & Mill? ing Company began operations in 1911, and up to the first of the current year produced 923, 600 Ions of ore, containing approximately 15, 000,000 ounces of silver and 12,500 ounces of gold. During 1919 the plant operated the equiva? lent of 338-24 days and milled 176,095 metric tons of ore. This yielded 2.038,736 ounces of silver ami 1,591 ounces of gold, equivalent to a yield per ton of 11.6 ounces of silver and 0.01 ounces of gold. Ore treated in January, 1920, was 17,168 tons, and in February in excess of 18,000 tons. The construction program, now under way, calls for an increase in the capacity of the plant to 1,200 tons per day, or 36,000 tons per month. Earnings: The net earnings of the proper tics, before depletion and depreciation and interest, on the bonds (all of which arc shortly to be retired), and after taxes, were in 1918 $767,558. and in 1919 approximately $1,150,000. It is estimated that the net earnings for 1920 will be in excess of $1,250,000, based upon siivcr at $1.10 per ounce. Examinations: Titles to the property have been approved by Curtis, Mallet-Pr?vost & Colt, and the legality of the issue of new stock has been approved for the Mexican Interna? tional Corporation by the above mentioned firm and also by White & Case, and for the undersigned by Davics. Auerbach & Cornell. Audits by Trice, Watcrhouse & Company. Re? ports on ore reserves, metallurgy and 'equip? ment by the following engineers: Franklin W. Smith, W. Rowland Cox, E. M. Hamilton and Dr. J. E. Clennell. A careful review of the engineering and operating factors has been made by Rogers, Mayer & Ball, who have been retained as con? sulting engineers, and they concur in the pro? posed program for the enlargement of \h9 plant. Tiny also estimate future operating costs on the enlarged scale of operations at $5.10 a ton. Thus on the ore reserves estimated by Mr. Smith, the profit, after paving Mexican taxes, would be $3.31 per ton, taking siivcr at $1.25 per ounce. 1% is expected that application will be made to list this stock on the New York Stock Exchan Temporary certificates will be deliverable pending engraving of permanent stock certifica Price $22.50 per Share Full descriptive circular null be sent upon request. Kttautti -Nac tjo?i & Ku\)m 120 BROADWAY NEW YORK Ths information contained In tills ad\ertlsement Is not gruaranteed, but is believed to bs HUGHES & DIER Investment Securities Bonds?Grain MEMBERS Philadelphia Stock Zxchangt Pittsburgh Stock Exchange Chicago Board of Trade Three New York Offices DOWNTOWN 50 Broad Street Telephone Broad 5NO UPTOWN 509 Fifth Avenue Between 4lnd and 43rd Streets Telephone Vanderbltt 9533 HARLEM 67 West 125th Street Chatham <fe Phenlx Nat. Bank Bids. Telephone Harlem 5651 Located geographically to serve three of the most active business districts of the city, these offices afford the investor every convenience and facility. aient to 19.8 per cent a share, com? pared with 20.8 per cent earned in 1918. An optimistic view of the business is taken by Charles M. Schwab and E. G. Grace. The report nays: "Present indications are that your steel plants will be working to full capacity during the current year. All of the shipbuilding plants have booked their entire capacity for the current year and a considerable tonnage for 1921 delivery." The report stated that net additions \ to property account during 1919 for plant construction and properties ac- I quired amounted to $34,021,089. The amount estimated to complete the con? struction in progress on December 31, 1919, is 819,000,000. The major por? tion of the expenditure for new con? struction was made at the Maryland slant of the Bethlehem Steel Company, The net result of new financing, the DIVIDEND NOTICES EAST COAST FISHERIES PRODUCTS CO. 7 Wall St.. New York, March 11, 1920, DIVIDEND No. I Tho Board of Directora "f this Com? pany lian declared ;? quarterly dividend of 1 *i per cent on the Preferred Stock, payable April l, 1920, to stockholders of record March ::V, J920. M A UK W. NORMAN. Treasurer. EAST COAST FISHERIES GO. I Wall St., New York. March 10, 1020. DIVIDEND No. 0 Tho Board of Directora of this Com? pany has declared tho re?ular quarterly dividend of 1% por cent on tho Preferred Stock, payable April 1, 1020, to stock? holders of record March 27, 1920. MARK W. NCR-MAN, Treasurer. EAST COAST FISHERIES CO. 7 Wall St.. New York. J'vwli 10, 1820. DIVIDEND No. 2 The Board of Directors of this Com? pany has declared a quarterly dividend of 1 per cent on the Common Stock, pay? able Apr;! 1, 1320, to stockholders of rec? ord March 27, 'P.20. MARK \V. NORMAN. Treasurer. NIPISSING MINES COMPANY, LTD. 106 Broadway, New York, March l?, 1920. The Board of Directors ha? to-day de? clared a Regular Quarterly Dividend ?if Five Per Cent., payable April 20, 1920. to shareholders of record as of March 81, 1S20. Transfer Books will close March 81, 1920, and reopen April 13. 1920. P. C. PFEIFFER, Treasurer. FINANCIAL MEETINGS WESTERN ELECTRIC COMPANY, INCORPORATED Notice Is hereby ?riven that tho Annual Meeting of tho Stockholders of Western Electric Company. Incorporated, will be hold at the principal office of the company, No. 195 Broadway, Borough of Manhattan, New Vor',- City, on the Gth day of Avril, 1920, at il o'clock a. in., for the purpose of electing directors and inap? tors of election, and for the transaction of such other business as may properly como be? fore the meeting. Dated. New York. March 23, 1920. GEOROE C. PRATT, Secretarv. OFFICE OF FEDERAL MINING & SMELTING CO. 120 Broadway, New York City. March 22, 1920. The annual meeting of the Stockholders of the Federal Mining & Smelting Com? pany, for the election of Directors and the transaction of any business which may lawfully come before the meeting, will bo held on Monday, April 12th, 1920, at the ?iftlco of tho Company, 120 Broadwav, New York City, at 3 o'clock in the afternoon. i ho stock transfer books ?lo not close, but stockholders of. record at the close o? i business on .March 23, 1920, shall have power to vote. \ J. T,. MARTIN'. Secretary. payment or redemption of outstanding notes and bunds and the operation of, sinking funds during tho year was a reduction of $25.232.827 in tho funded and secured debt of the corporation and its subsidiary companies. The company's balance sheet as of December 31 showed current asset? of $142,882,270, of which $14,166,522 was in the form of cash. Inventories were valued at $67,409,810. Current liabili? ties totaled $54,244,018?, FINANCIAL MEETINGS NOTICE OF SPECIAL MEETING AMERICAN TELEPHONE AND TELEGRAPH COMPANY No. 195 Broadway New York. N. Y.. March 10, 1020. TO THE STOCKHOLDERS: Notice 13 hereby given that a Special * Meeting of the Stockholders of tho Arr.er I lean Telephone ami Telegraph Company will be hH<l at (ho principal offl<--> of lh?' Company, No. 196 Broadway. Borough of Manhattan. City of New York. X. V . on Tuesday, the thirtieth day of March, 1920, , al 10:30 o'clock in the forenoon, to con ' alder ?ml act upon the question of In ' creasing the capital stock of the Company I from Five Hundred Million Dollars ($500,000,000), consisting of five million (5.000,000) shares of the par value of Onn Hundred Dollars ($100) each, to Seven Hundred and Fifty Million Dollars ($700,000,000), to consist of seven million, five hundred thousand (7,600,000) shares of the par value of One Hundred Dollars ($100) each. H. B. THATER, President. ARTHUR A. MARSTERS, Secretary. ' NOTICE OF ANNUAL MEETING AMERICAN TELEPHONE AND TELEGRAPH COMPANY N?. 195 Broadway New York, X. Y? March 10, 1920. ; TO THE STOCKHOLDERS: : Notice Is hereby given that the Annual Meeting of tho Stockholders of the Amer? ican Telephone and Telegraph Company . will "bo hold at the principal o.llee of the Company, No. IS."? Broadway. Borough of ? Manhattan. City of New York. X. V.. on , Tuesday, the thirtieth day of March, 1920. * at 12 o'clock noon, for tho following pur j poses: 1. To elect Directors and Inspector? of ? Election for the ensuing year. 2. To consider and act upon a vote ap? proving the acts of the Directors. Execu? tive Committee and Officers as shown by their records, since tho last annual meeting of the Stockholders, and the transactions of the Company referred to In the annual report of the Directora to tho Stockholders for the year 1919. 3. To transact such other business as may properly com. before the Stock? holders. Tho transfer books of the Company will ho closed at the close of business on March 19th. 1920, and reopened at 10:00 A. M., on March Slat, 1920. ARTHUR A. MARSTERS, Secretary. SOUTHERN PACIFIC COMPANY." NOTICE OF MEETING. 1C5 Broadway, New York. N. Y. January 2, 1320. The Annual Meeting of tho Stockholder? of the Southern Pacific Company will be held at tho office of this Company In An? chorage, Jefferson County, Kentucky, on Wednesday, April 7, 1920. at twelve o'clock noon, standard time, ?or the fol? lowing purposes, viz: 1. To elect fifteen Directora 2. To consider and act upon all ques? tions and matters which they legally come before the meeting relating to Federal con? trol of the. Company's properties under the act of Congress of March 21. 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 otherwise, and/ or. relating to conditions resulting from or succeeding such Federal control, and gen? e-ally all questions and matters growing out of or incident to such control, ter m?nation thereof, or following condition? ?. To transact all such other bushiest a? may ltgal'.y co ne before the meeting, in? cluding tho approval and ratti?eation of all ?ction of the Board ?.f Directors and of tho Executive Committee since the last annual meeting of the Stockholders of this Com? pany. For the purpose of the meeting, the books for ths transfer of stock will be 83,???.?a^ww be reopened at 1? o'olook A. Ms. Thursday. April ( HI?. By order ot the Board of Directora HUGH NBILU Secretary. m VIDENT) NOTICES IRVING NATIONAL BANK NEW VORK New York. March 16, 1920. The Board of Directors ha? this dav declared a quarterly dividend of Three Dollars ($3.00) per share on th? capital stock of this Bank, payable April i. 1920, to stockholders of record at the close of business .March 2S, 1920. E. D. JUSIOR, Cashier. NEW YORK NATIONAL IRVING BANK NEW YORK March 16, 1920. The Board of Directors h*S this day declared a quarterly dividend of Two Dollars (S2.00) per share on the cap? ital stock of this Bank, pay? able April l, 1920, to the stockholders of record at the close of business March 28, t920. GEORGE W. BERRY, Cashier. NATIONAL BlSCUIi COMPANY 87th Common Dividend THE Board of Directors has declare^ a quarterly dividend of one vf three-quarters (144) per cent on v* Common Capital stock of the Company payable April 15th, 1920, to aw* holders of record at the close of busin0* March 31st, 1920. Transfer books wu? not be closed. G P. w&Lyk*?. ARIZONA SILVER! MINES CO. niVIWKM) NOTICE A monthly dividend of J 8* cent will be mailed April ia ? 20, 1920, to stockholders ?* record April 1, 1920. ? ARIZONA SILVER mW*y JSDW. & VAN ?TOA?. ******_