New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 25, 1920, Image 14

Search America's historic newspaper pages from 1756-1963 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the National Endowment for the Humanities external link and the Library of Congress. Learn more

{
                  title: 'New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 25, 1920, Page 14, Image 14',
                  download_links: [
                  {
                   link: 'https://www.loc.gov/rss/ndnp/ndnp.xml',
                   label: 'application/rss+xml',
                   meta: 'News about Chronicling America - RSS Feed',
                  },
                  
{
    link: '/lccn/sn83030214/1920-03-25/ed-1/seq-14.jp2',
    label: 'image/jp2',
    meta: '',
},
{
    link: '/lccn/sn83030214/1920-03-25/ed-1/seq-14.pdf',
    label: 'application/pdf',
    meta: '',
},
{
    link: '/lccn/sn83030214/1920-03-25/ed-1/seq-14/ocr.xml',
    label: 'application/xml',
    meta: '',
},
{
    link: '/lccn/sn83030214/1920-03-25/ed-1/seq-14/ocr.txt',
    label: 'text/plain',
    meta: '',
},

                  ]
                }

New-York tribune. [volume], March 25, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

Image provided by: Library of Congress, Washington, DC

Image: of 20.

Page

All Pages

Issues

All Issues Text | PDF | JP2 (6.7 MB)

New-York tribune. [volume] (New York [N.Y.]), 25 March 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-03-25/ed-1/seq-14/>

Newspaper Page Text

MACKAY & CO.
BANKERS
Member? of
Ne* York Stock Exchange
We offer special
facilities for the
prompt and efficient
execution of orders
in all markets
14 WALL STREET
NEW YORK
Reserve Oil Lanas
are as important
to a producing oif
company as
Reserve Troops
are to an Army
Through ?vast reserve
acreage in United
States, Mexico and
South America,
Cities Service Co.
has made certain its
future position in the'
oil industry of the
world.
Send for Circular "36"
Henry L. Doherty
& Company
Bond Department
60 Wall Street, New York
FOR INVESTMENT
Japanese
Government
4% Bonds
Due January J, 1931
At the market yield nearly 10 %
Send for Circular 14-TJ3
Colgate, Parker & Co.
49 Wall Street, NewYork
1 ? i
Kelly
S Springfield
| li
V Tire Company %
Montgomery
Ward & Co. inc.
Circulars on request.
I H. HENTZ & CO. I
1 I
ESTABLISHED 1156
I 22 William Street New York |
85 Congress Street Boston i
1
Uemhere of
New York Stock Exchange y
A'ete York Cotton exchange
'?} Wew York Coffee and Sugar Exchange f]
?few York Troduce Exchange ?
Chicago Board of Trade ?
%
A Stock and
Bond Register
in which may be listed
the securities held, the
prices paid and other
data, is available for
your use. If you will
send in your list of
holdings we will enter
them for you and for?
ward the register to
you without charge.
George H. Burr & Co.,
120 Broadway
New York .
?I
Heavy Selling
Breaks Prices of
Industrial Shares
Sudden Rise in Call Money
Rate? Causes Quick Shift
by Speculators and Low?
er Quotations Follow
Wall Street's boiling stock market
ran into the heaviest selling since the
rise started, forcing extended declines
in all the leading speculative indus?
trial shares that lately have been the
centre of aggressive pool manipulation.
With the experience gained earlier in
the year, when abnormally high rates
for call money precipitated a drastic
fall in prices still fresh in its memory, !
the speculative element turned hur?
riedly to the selling side when the call
rate shot upward until it touched 14
per cent in the afternoon. Money was
! the preponderant influence,- little else
i being talked? about. The signs of in?
creasing stringency were accepted as
indicating that the recent moderate
ease in money was perhaps more or
less temporary and did not reflect ac?
curately the fundamental position.
The sudden rise in call rates came
as something of a surprise. This
tended to accelerate the downward
movement in prices which began
around midday after an early display
of strength an/1 continued almost to
the close. The trading element had
looked for a tightening of money on
Tuesday, when the government made
large withdrawals from the banks. In
expectation of higher rrtes then the
professional traders had worked for
a reaction-, but their efforts were not
j rewarded with much success, although
it was generally felt that a setback
j would be a good thing for the market.
?As a result of the resistance offered
by stocks to the selling on the day
before, buying proceeded confidently
yesterday forenoon pushing numerous
of the fast-moving industrials to much
higher levels. General Motors, for in?
stance, was in such active demand as
to lift the price to 410, the highest
price on record. The later decline,
however, saw that stock carried down
to 366, where it showed a net loss of
more than 35 points. Similar move?
ments, although of course not so wide
in range, occurred in Baldwin Locomo?
tive, Mexican Petroleum, Republic
Steel, Texas Oil and Bethlehem Steel.
The market rallied slightly at the close
but was still greatly unsettled.
Switching of professional traders to
the selling side of the market was im?
mediately responsible for the lower
range of prices, but there was also
heavy profit-taking, as well as some
forced lio.uidation of long accounts by
holders frightened at the sudden re?
vival of money stringency.
Rumors played an important r?le in
the day's market. One rumor, in par?
ticular, to the effect that a bill, spon?
sored by Federal Reserve authorities,
is to be introduced into Congress which
will enlarge the powers of the Federal
Reserve Board in curtailing credit ex?
tension supplied the professional bears
with a selling point.
The money situation at the moment
is extremely interesting. Large bal?
ances built up in the banks by corpora?
tions in anticination of the tax pay?
ments have been used temporarily in
the call money market. In the last day
or two the checks drawn against these
balances to meet the March 15 tax pay?
ments have begun to come through,
putting a heavier burden upon the
banks, which has necessitated their
calling in part of the funds put out on
demand. Moreover, the government
since Monday has withdrawn from the
banks approximately $30,000,000, such
withdrawals yesterday amounting to
$8,000,000. Commercial demand for
bank credit continues heavy, but there
has been some contraction in the total
of such credits, bankers assert. The
slack caused by this contraction is be?
ing taken up by the seasonal demand
for crop planting purposes from the
agricultural districts. The agricultural
demand is expected to become an in?
creasingly irnporta'nt factor in the
money market from now on until June.
i -1
Money and Credit
Bankers reported that call money
was loaned at 15 per cent yesterday,
although the high rate officially re?
ported by the Stock Exchange was 14
per cent. The sudden jump came as a
surprise in brokerage circles, as it was
? felt that Tuesday was the crucial day
: this week in view of the $20,000,000 of
: government withdrawals on that date.
; Further withdrawals are expected to
? morrow. It was stated at the Federal
! Reserve Bank that they would total
approximately $8,000,000. Another fac?
tor contributing to the current tight?
ness of call money is the fact that
checks received by the government in
payment of income taxes are now pass?
ing through the banks in heavy vol?
ume.
The ruling rate for money yesterday
compared with a year ago, follows:
Yester- Yeai
Call money: dny. a-?*.
On mixed collateral... 7 5M
On industrial collateral 7 t>
Time money (mixed col?
lateral) :
Sixtv days.8@8Vi 5%@544
Ninety days.8@8 Vi 5Vi@534
Four months.8<5?8% 5Vi@59$
Four to six months.. 8@8Vi 5%@5??
Bank Clearings?Bank clearings ir
New York and other cities yesterdaj
were:
Exchanges. Balances.
New York_$836,834,116 $84,400,89(
Baltimore _ 13,845,470 6,647,84;
Boston . 60,116,357 19,755,441
Philadelphia . . 80,029,445 23,956.061
Sub-Treasury?United States Federa
Reservo credit balance, $76,788,579.
Silver-London, 71 Vid; New York
l$1.23Vi; Mexican dollars, 93%c.
The Dollar in Foreign Exehang?
Sterling exchange moved up thrci
cents to the pound yesterday, crosinj
at $3.80. Lire, francs and marks als<
were stronger. The demand for Conti
nental exchange was greater than oi
Tuesday, and the selling pressure oi
lire seemed at least temporarily to hav
been lifted.
Yesterday's rates, compared wit!
those of a week ago, follow:
(Quoted dollars to the pound)
Wee
Yesterday. ago
Sterling, demand .......$3.83 $3.722
Sterling, cables .3.8375 3.7:.
? Sterling, sixty days. 3.79125 3.687
| Sterling, ninety days.... 3.7675 3.672
(Quoted units to the dollar)
Francs, checks -,_14.24 13.57
I Francs, cables -.14.22 13.55
i Belgium, francs, checks..13.77 12.98
Belgium, francs, cables..13.75 12.91
! Lire, checks .19.42 18.48
Lire, cables .19.40 18.46
Swiss francs, checks_5.82 5.84
Swiss francs, cables. 5.80 5.82
(Quoted cents to the unit)
Guilders, checks . 36.75 86.625
Guilders, cables . 36.875 86.75
Austrian crowni, ohks. .46 .44
Austrian crowns, cbls.. .47 .45
Sweden, checks .20.90 20.20
Sweden, cables.21.00 20.30
Denmark, checks . 18.05 17.40
Denmark, cables.18.15 17.50
Norway, checks. 1S.40 17.95
?Norway, cables . 18.50 18.05
?Pesetas, checks . 17.57 17.72
?Pesetas, cables . 17.65 17.80
Greece, checks . 10.75 11.20
Greece, cables . 10.S6 11.30
Manila, checks . 48.875 48.75
Manila, cables .49.125 49.00
India, rupees, checks.. 45.25 45.25
India, rupees, cables... 45.50. 45.50
Japan, yen, checks. 46.75* 46.125
Japan, yen. cables.47.00 46.375
Anrentlna/checka ?.?.102.40 102.10
Summary of Stock Exchange Dealings i
(Copyright. 1020, Now York Tribuno Ino.)
Day Year January 1 to dale.
Yesterday. Before. airo. 1920. 191?. 1918.
Rullroad stocks ... 144,300 101,600 179,200 8,924,300 7,578,800 8.244,100
Other stocks . 1,580,200 1,096,200 573,600 54,861,100 32,649.700 28,069,300
All stocks . 1,724,500 1,197,800 752,800 63,785,400 40,228,500 36,313,400
Yesterday. Dny before. Year Biro. 1920. 1919.
U. S. government bonds. $9,456,000 $10,628,000 $11,984,000 $746,928,000 $556,691.000
Railroad bonds . 1,098,000 1.226,000 1497,000 82,649,000 77,822,000
Other bonds . 1,807,000 2,575,000 2,883,000 101,114,000 92,318,000
All bonds . _ 12,361,000 14,429,000 16,064,000 930,691,000 726,831,000
High. Low. Dlv. Net
lf'20. 1920. Rate. Salen. Open. High. Low. Close, chge. Bid. Ask.
36 25 ? Adams Express .
45% 34% ? Advance Rumely ...
80% 65'/4 6 Ajnx Rubber -
2% 1'/_ ? Alaska (.old Mines..
2'/2 1% ? Alaska Junrau .
537a 36% ? Allis-Chalmcrs . 4900 43^
95 82 8 Amcr Art Chem...
135'?_ 75 8 Amcr Beet Sti.ar... 2100 89% 89% 86'/4 8G'/.V? 1'./? 86'/4 87'/%
12834 105 10 Amer Bosch Mag... -700 119% 113% 112 112%? 6% 112/4 H5
225 1701-4 12 Am Bk Shoe 1 dy pf. 200 ?18 218 218 218
61% 38% ? Amor CSn . 7100 5O/4 50/4 47 47
146 124'/8 12 Amer Car ft Fdjy_ 4000 140 141?/2 137% 1-8
II6/4 112">4 7 Amer Car & Pdy pf. 200 115 115 115 115 -
54% 397a 14 Amcr Cotton Oil_ 200 471/4 47!, 47 47 -
15% 11% 80 Amer Drus; Synd... 400 13 13 12% 12%
30% 18! a ? Am Hide & Lcath,. . 2600 2838 28% 26 _, 26%? 138 26 26%
122 90/2 7 Am Hide & Leath pf 2900 117% 118'.'2 111 111%? 6% 111 HI'/j
53% 38 4 Amer Ice Securities. 800 48 ?i8 48 48 ? 3% 48% 50
68 53 6 Am Ice Securities pf _ 200 64 64 64 64 ? 2% 62% 64
IO334 %7 6 American lnt Corp.. 10600 102 103% 97% 97%? 4% 97% -7%
87?4 74% 3 American Linseed .. 1600 84% 84% 83 83?2 82!/2 83
IO8I/4 82 6 American Locomo .. 12600 106 106?/2 1003/4 1003.4? 434 100% 101"/2
30'/- 1634? Amcr ?Ship & Com.. 5100 24 24!, 23 23%? % 23% 23%
i 72 56 4 Amer Smelting . 3600 67% 6778 65 65/4? 2% 65 65%
i IOOI/4 9334 7 Amer Smelting pf. . . 200 96% 96% 96% 96%-95% 96
! 50 39 3 Amer Steel Fdry_ 26-0 48% 48'/2 46?/a 46% - 1'/_ 46% 463.,
140'/2 123l/a 7 American Sugar ... 2000 13034 13134 l27'/a 129 ? 1/4 129 130
118% 114% 7 American Suiiar pf. 200 116 116 116 116 ? % 115 118
IC634 77 10 Amcr Sumatra Tob, 6000 1033, i0V 99 09' '2? 3 ""99'/4 90%
1CC% S6% 8 American TrI & Tel. 830 97% 97% 97'/? ' 97?/2? % 97' <? ?"?<'! 2
283 225 20 American Tobacco . !450 2G3 265 ?65 265 - 260 263
74% 5438 5 Amor Tobacco Sec, 21630 ?"% e33a 65' r, 65%? 2% 65 65'4
1C5'/2 112% 7 American Woolen .. 20900 133! 4 1293a, 130% 130%? 3(4 13C34 132! 4
105! a 10112 7 American Woolen pf 200 103'/2 103'/2 1C2% 102% + Ta 102'/2 103
61% 38% ? Amer Writ Paper pf 5C0 513/4 5.1% 50
21% 15% ? Amer Zinc . 4C0 19 19 19
59'/2 50 6 Amer Zinc pf. 200 53% 53% 5334
65% 54 4 Anaconda . 14900 62'/2 63% 61!/8
17 7 ? Ann Arbor . 100 14 14 14
671/4 48 4 Assoc Dry f.'oods_ 200 453^ 45% 43
86/2 76 6 At, Top & San Fe. . 1000 8434 84% 83%" 83(/_?
82 76 5 At, Top & Son Fe pf 600 79 79 78% 78%?
93 84 7 All Coa.st Line. 2000 89% 89% 89 89 ?
176'/2 137 10 All, Gulf & W I_ 2-100 161% 162 155'/? I5734? 5/4 155'/2 158
114 112% 7 All, Refm pf. 200 113% 113% 1133,4 113%+ 341121/2114
19/4 13 ? Auto Sales Corp.... 200 13% 133/4 13% 13%? '/8 ? 13%
14334 1031/2 3% Baldwin Loco Co_161800 142 1'1?3% 130% 130%? 9 130% 131
102% 98% 7 Baldwin Loco Co pf. 400 100 100 100 100 + ?/8 9934 101
38% 28'/4 ? Balti & Ohio. 2900 37 37% 35! '2 35'/2? 5Q ,351 2 Z6
49% 42 4 Balti & Ohio pf. 2100 47% 473/4 47 47 ? 1/4 47'/2 48
134% 114 8 Barrett Company ... 1000 125% 125?8 121% 121'/8? 3% 121 123
317a 171/2 ? Bethlehem Motors .. 6900 28% 29% 26% 26%? 2?/4 26% 27%
95'/4 77'/2 5 Bethlehem Steel _ 100 95 95 95 95 + 1'/2 85 92
102'/2 81'/2 5 Belh S'.eel. Class B, 40630 97 S9 93% 93%? 2'/2 9334 94
114 108 8 Beth Steel 8% pf... 100 112?/2 112! a 112'/2 112% + |/2 111 112%
17 10% ? Bklyn Rapid Transit 1900 14% ' 15 14% 14%? 1/4 14% 15
15 10 ? Booth Fisheries Co.. 1400 12'/4 12'/, 12 12 ? 38 111a, 12
124'/2 93 10 Burns Bros . 7600 120 124'/2 119 119 ? ,1 119 120
8 534? Brunswick . 2100 7% 7% 7'/2
11/2 7% '/2 Butte Copper & Zinc 400 9% 97a 9%
29(4 22 ? Butte & Sup Copper 400 26?.', 26% 26/4
271/4 15 ? Butterick Co . 800 18% 18% 18%
283/8 17 __ Caddo Oil . 700 ,23/2 23/? 22
85% 74 6 Calif Packing . 200 81 81 80
46 27%? Calif Petroleum _ '100 40'/4 40% 38
75% 65 7 Calif Petroleum pf.. 1C0 70 70 70 70 ? % 69 70'/2
68- 59'/2 4 Calumet & Arizona.. 200 63 63 63 63 ? 1'/2 63 64%
134 II51/4 10 Canadian Pacific ... 21C0 123% 123% 123% 123?/8? % 123 124
104% 72 5 Central Leather _ 8900 80 89% 85 85%? 3'/8 85% 86
61% 45/4 4 Cerro De Pasco. <600 54 55 52 52?2 52% 53
155/2 1171/2 10 Chandler Motors ... 6SO0 149 149-J, 142% 142%? 7/2 14?. 143'/2
59'/2 47 4 Chesapeake & Ohfcs. . 2000 57% 58 56% 56%-- % 56 57'/
11 4% ? Chic & East Ills pf. 1400 9% 10 9% 10 ? '-4 9% 10
10% 7 ? Chic Cr?ai. West_ 100 8% 8% 8% 8% |- % 8% 9
27% 21 2 Chic (,'rcat West pf. 100 24% 24*4 24% 247?? 3a 24% 25
42'/, 30/4 ? Chic, Mil & St 'Paul 6S00 30 40 37 37 ? 2% 36% 37
Cil/., 453/4? Chic, Mil & St P pf 4100 57' '2 57% 53% 53%? 3% 54 56'/2
91/2 75 7 Chic & Northwest.. 400 80 8" 83 89 - 88 89i/2
1203/4 113 8 Chic & Northwest pf 7C0 117 117 117 117-117 120
110 78 6 Chic Pneumatic Tool 300 108% 108% 108% 108% + 78 103 108
41% 23% ? Chic, R I & Paciiic. 8600 37'4 S3 ., 36% 36%? % 36% 37
78 64% 7 Chic, R I & P 7% pf 8.0 751 8 75% 75% 75?%? % 75 76
66/2 54 6 Chic, R I & P 6% pf 930 63 65 6534 65% f- % 65% 653a
21% 15%? Cuiie Copper . 4600 18% 13% 18 IS ? % 17% 1?
41% 31% % Chino Con Cop...,. SX) 35% 35' 8 34% 3-4 ' _.- 34'/?
106 87 8 Cluelt Peabody . 200 03 93 9134 C1%? 5 SJ
40% 33% 1 Coca Cola .
44!2 36% 3 Col Luc! & Iron.
651 2 36%. 1 Coulmbia Graph . .
92% 83 7 Columbia Graph pf..
67 53~5 CoJ Gas & Elec_
56 44 4 Com Tab Rcc.
70 55' 4 6 Consol Cigars .
92% 75 7 Consol Cas .
20% 1634 2 Con I?t Callaban M.
93% 78 7 Continental Can ....
13% 10'/2' 1 Continental Candy . .
95% 76% 4 Corn Proiluc'.s . 12600
34% 21% % Con Textile .
255% 189 12 Crucible Steel .
100 96% 7 Crucible Steel pf...
56'/2 391/2 ? - Cuba Cane Sugar...
85 79% 7 Cuba Cr.no ?Sugar pf
9 6 ? Den & Rio Grande.. 200
16% 9 ? Den & Rio Grantle pf 4130 14
13 10% 1 Dome Mines . 1630 11}
28 2C'/a ? Elk Horn Coal. 2C03 25
44 33 3 Elk Horn Coal pf.. 200 43
29 20 ? Emerson-Brandt _ 100 23% 23% 23%
147 99 5 Endicott-Johnson ... 3100 121 123% 115% 115%? 4% 115% 116%
104 100% 7 Endicott-Johnson pf . 400 101% 101% 101 101 ? 3/4 100% 101%
15% 9% ? Erie . 2600 14 14% 14 14 - -44 14?A
25% 17%? Erie 1st pf. 2000 23% 23% 22 22?1 21 22'
17% 12%? Erie 2d pf. 200 16% 16% 16% 16%? % 14 16%
83% 72 ? Fairbanks . 200 72% 72% 72% 72% +2% 72 75
95 65% 8 Famous Players .... 4100 79% 81 77% 78 ? 178 78 79
9034 85 8 Famous Players pf. . 800 88 88 88 * 88 ? 2 88 90
36% 16% 3 Fed Min & Smelt pf. 100 34 34 34 34 ? 238 34 36
135 100% 10 .Fisher Body . 100 130 130 130 130 ? '4 126 132
48 33 3 Fisk Rubber Tire_ 1900 3734 37% 36% 36%? i/2 36 37
36% 21 ? Freeport Texas - 1000 26% 26% 24% 24!4? 15a 24% 25%
19% 12 ? Gaston, Wms & Wig. 200 15% 15% 15% 153/8? i-8 (53/8 151-,
75% 58% 6 General Cigar . 600 70% 703/4 68% 68/4? 2% 68 63%
3% 3 ? General Elec rts _ 7800 3 3 3 3 - 2% 3
172 152% -8 General E!cc Co_ 2100 159% 15-3/2 158 159 ? i/2 15/ 159
4I0 225% 12 General Motors . 43600 4C5 410 366 366 ?33U 365 3?7
| 8934 73% 6 General Motors pf.. 2?0 80 33
85% 69% 6 Gen Motors 6% deb. 6600 753? 76
90 84 7 Gen Motors 7% deb. 700 90 90
41% 24% ? Gen Motors ctfs. 89900 40% 41%
85% 64% 6 Goodrich, B F. 6900 71 ~ 71
IO234 92 7 Goodrich, B F, pf... 400 95 93
55/2 36 ? Granby Mining ...*.. 1000 47 47%
49% 31% 2 Gray Davis . 700 35% 35%
84% 68% 7 Great ?Northern pf. . 6C0 81?8 82,4 81'
41% 33 4 Great North Ore sub 5100 4C34 40'8 40'
33 28 ? Gulf Mob & North pf 200 30 30
84% 57% ? Gulf State S'cel. 2000 63% 68%
6.6% 50 4 Hask & Bark Car Co 2C0 63% 03%
18% 13 1 Hupp Motors . 2100 17'4 17%
9334 80% 7 Illinois Central . 900 9C% 91
2634 13!_ ? lnt At;ricul . 700 23% 23%
83% 69 5 lnt Agricul pf. 2C0 78% 78' 2
61% 50'/8 6 Inspiration Copper 7700 5/% 58
4% 3% ? Interbor-Con Corp . . 400 4? 8 41 8
16% 9% ? Interbor-Con Corp pf 100 14 14
135 1123,4 6 lnt Harvester . 400 130 130 127' 8 127/a_ Wa 125
115 IIO34 7 lnt Harvester pf.... 200 110% 110% 110% 1l'0'/44- ''_1093?in_
; 51% 27%- lnt Mer Marine. ... 39200 37% 37% 34 34?/_- 3?/t 34?>_ 34./
i 111% 76% 6 lnt Mer Marine pf.. 7600 97% 9734 92 93%-4% 921/ ?%V
, 1g8 102% 7 lnt Motor Truck.... 200 126!4 126'_ 126'/, laeSj. lit ,l/2 J_ 8
00 126% 126% 126% 126'_4- 1'?_ 120 1o?
84 72 7 lnt Motor Truck 1 pf 200 78 78 78 78- i/T 7. 70
69% 60 7 lnt Motor Truck 2 pf 200 65 65 65 65 ? W. ? ml
013,. 703. _ International Paper . 26100 87% 88% 83% 83%- 4' I ?314 83
Inter Paper pfstpd.. 400 76'2 76% 76% 76%- 38* ?g/4 f7
913/4 70% ?
79% 70 6
Record of Stock and Bond Averages
(Copyright, 1920. Ne"
Day
Yesterday. Before.
20 Railroad ?locks . 66.96 ' 67.65
30 Industrial stock? . 99.67 102.90
50 Stock? . 86.58 88.76
19 Railroad bonds . 73.17 73.20
10 Industrial bond* . 88.77 88.80
5 Utility bonds . 73.58 73.74
25 Bond? . 79.49 79.65
York Tribune Inc.)
Range thas
far 1920.
Year
Aro.
70.75
88.83
81.60
79.86
94.72
85.60
86.96
Range fall
year 1919
High.
68.70
110.30
92.06
76.28
91.45
74.53
81.71
Low.
58.60
88.70
77.14
71.76
88.77
73.48
79.48
High
78.80
119.33
99.54
82.80
95.70
87.75
87.91
Low.
63.35
79.20
7D.92
72.83
90.56
71.80
80.21
High. Low. Div.
1920. 1920. Rnte
26?4 19-H ?
51 Va VbV? ?
21% 15'/a ?
44% 38 ?
?n 23 2
!62'/a 106 4
33% 27% 2
24?
63
?8
<im2
9134
Inter Nickel . 1800
Iron Products . 4600
,Icwel Tea .
Jewel Tea pf....
Jones Tea .
\ Kelly Springfield
2 Kennecott Copper
1.20 Keystone Tire . .
6 Lockawnnno Steel
? Lee Rubber & Tire
Sales. Open. High. Low. Close.
21% 22 21% 21/4?
Net
chge. Bid. Ask.
45%
16
38%
400
800
300 24
4600 136
3000 31%
4C0 34%
2114 21%
'44 45
16
39
20
127
30'/
17
40
24
130
31
40'/a 3/a Lehigh Valley . 400 45'/a 46/g 45
255/a 2 Loews, Inc . 2100 29% 30 29
17?/?- Loft Candy . 2400 21 21'/4 We
1451/4 12
9 ?
98 7
64 6
23 2
181/a ?
471/2 ?
47! a ?
18!<2 ?
1171/2 7
161'/;
21'/
22/,
423,
ZH
1833.4
9
112/a
633/4
30/2
371/2
63/2
63 '/a
? 35/a
134
222
: ?6
71%
? 52%'
18'/a
11
13
31%
4<134
691/2
; 72%
89%
< 80
I 12
i 80'/a
i 86!4
? 17/2 14 1
j 117 92 10
! 77'/2 64/4 5
I 48' -'?
: 61
! 36% 23/2 ?
1
idy
Lorillard, Pierre . . .
Lorillard, Pierre, rts
Louisv & Nashville.
46 44/4 44/4? V?
16 16 16 -I- .'/a
39 38% 39 + 1
24 24 24 ? '/4
137/a 127 127 ? 7
31% 30'/2 301/2? '/a
2200. 38-/4 38-/4 35% 36 - 2 35% 36-/2
3100 79% 80% 76'/a 76%- 2% 76% 77
3 4 '/, 34 34 ? '/a 34 34-/4
451A 45 45 ? !/4 45 451/a
29%? 1 29/4 293/4
19%? Ha '19% 20
500 162% 162% 160 160 - 3% 159 160
200 9 9 9 9 - 8/2 10
200 104/a 104/a 104'/2 104-/a? /a 104% 107
Mackuv Cos pf. 300 66
Martin Parry .* 200 26
Maxwell Motor Co.. 2800 37
Maxwell Motor 1 pf.
Max Motors 1 pf ctfs
Max Motors ctfs . ..
May Depart Stores..
Mexican Petroleum
10
2 Miami Consol Copper 1000
1.20 Middle States Oil... 12600
66 60 66?2 64 70
26 26 26?2 25'/8 28
?.,.,.. ... 37'/a 34 343/4? 1 33 34
1200 59'/2 59'/a 58'/a 59 ? 14 65'/2 58
1600 54/a 541/a 54/2 54/2+ 1'/2 ? 57
400 30% 303/? 3O/4 ?0%? V? ? 31?4
2000 132 133% 130 130 ? 1 128 130
39600 198 206 192-/4 193'/4? 4'/2 193 193'/2
8% ?
36 ?
61% 3
44 ?
81 7
63 5
23
32'/8
48
16
9%
153/4
29
400 46
200 67
1400 67
66/2
72%'
21%
29
84%
77-/4
50%
5%
9|A
145
6114
Midvale Steel . 1900
Minn & St I. new... 400
Mo, Kan? & Texas.. 300
Mo, Knns ?. Texis pf 200
Missouri Pacific . . . 39C0
Missouri Pacific pf. .
Montana Power ....
N'a lion a 1 Aniline . . .
National Aniline pf
Nat Cloak & Suit ..
Nat Con & Cable ...
Nat Enam & Stamp
National Lead . 2000 84%
Nev Con.sol Cop ....
New York Air Brake
New York Central ..
30 2/2 New York Dock ....
45 5 New York Dock pf..
N Y. N H & H.. ..
15 1 NY, Ont & West . .
10 ? Norfolk Southern ...
C8-/4 7 Northern Pacific ...
50% 5 Nova Scotia Steel...
38% 4 Ohio Gas .
434 1/2 Okla Prod & Kef
6-/2 ~ Ontario Silver . 1600
120 " 3 Otis Elevator . 4C0 138
23-/4
32%
48
16-/4
9/2
15%
233.
46
67
67
23
31'/a
46/2
15/2
9"2
15%
28%
45
67
65-/2
23/4
32 ? '/?
47 ? 3<
15/2- 1
9%+ Vi
15%+ V.
22/2
31-/2
46%
15-/2
9/4
14'/,
23
32
47
153/4
9%
15/2
28%? 1% 28/4 283a
2C0 86/4 86/4 86/4
400 70 70 70
800 11 /a
1600 78
45 _ 34 45 45/2
67 -4- % 65 67
65'/2? 1/2 65 653/4
86/4? 1/4 86 87
70 - 69'/2 70
11'/a 11 11 - 10/a 11
78 753,4 76?2 75 76/2
84% 80 8O/2? 4/2 80 82
800 14% 14% 14/2 14%+ '/? 14% 14%
300 110 110 109 109 ? 4 107 109
2600 75-4 76 74 74?1 74 743/4
42 36% 38%+ 2% 38'/2 39
52 50 51 + 1 48 52
35% 33-/2 3334? 34 33/2 3334
21 21 21 ? % 21 21/a
22 22 22 ?- 22 ?3
82-/8 8034 803/4? Vz 80/2 81 .
36%
50
34%
21
22
12900
2600
12100
400
1C0
2600 82
1000 63
41C0 441/4
4830 5/2
8/4
23
? Otis Steel . 2600 32-/2
43
; 1C8'
I 103!
47% 37
i '13-/2 40
I 3534
1 41-';,
? 32
: es
; 42- '2
; 80-4
I 82%
23%
63%
31! 2
2734
IO434
1 104- 2
124
44
31
37
71%
67%
20 ?
33 ?
23-/2 ?
(=2 5
34% 3
50 4
483., ?
15% ?
Pacific Dcvel .
Pacific (?as & EIcc. .
Pacific Moil .
Pacific Tel & Tel. . .
Pan-Amer Petrol
Pan-Amer Pet B. . .
Parish & Bingham . .
Pennsylvania Rail
Penn Sea!) Steel ....
Peoples (?ns & Coke.
Pero Marquette .
Pere Mari prior pf.
Philadelphia Co ....
Pitts C, C & St I.ou
Pierre Arrow .
Pierre Oil .
Pittsburgh Cool ....
200 70
1000 54
200 33'/2
100 42
46100 IO334 IO6/2 97
65%
4434
5-2
8/4
138
32-/2
70
54
33-/2
42
62-/8
4334
5%
8
138
30-/8
70
51
33-/2
42
9100
700
4600
7800
200
97
4O/4
43
33%
38
40-4
43
33%
38
4600 29% 29'/2 28% 28% +
200 66 66 66 66 ?
3100
200
39630
20OO
4 C0
21'/
16
84
100!
109
74
103
22??
88!';
94
1242?
1063/
50
1103,
80/?
21?!
163
17/4
04%
62- 2
84-/8
97'2
34! 2
93%
64'/a
13%
Pitt.s & W Va . 9100
Pond Creek Coal . . .
Pressed Steel Car . .
Pressed Steel Car pf
Pullman Pal Car
Punta Alegre Sugar
Roil Steel Spring . .
Ray Consol Cop ....
Reading , . . . 31400
Ii:*ming?on Type .... 1900
38%
75
73%
18-/4
59%
31
3100 2CS8 2138
160O 102% 103/2
100 102 102
39
75
74
18%
61%
31%
62/8? 3 62 63 ?
4334? % 43/2 44
5/a+ Va 53/8 5/2
8 _ 38 734 8'/a
138 + % 136 140
30'/8? 2% 30 31
70+4 68 72
51?2 51 54%
33/a? Vz 33/2 34
42 - 41 42
97/4? 5%- 97 98
90 ? 6'/2 89 91
40 - 40 41
42%? V? 42% 43
31 ? 1% 30% ^,31
38 ? 3g 38 39
28% 29%
66 67
37% 37%? % 37% 38'/2
75 75 - 75 77
66 60%? 6/4 66% 6634
18% 13%? % 19/8 19/4
59% 59%? 38 59i/2 6o/2
29% 29%? 1 29/2 30
20 20 ? 34 19i/2 20
9934 100 ? 2/8 9934 100
102 102 - 101 103
90
40
42%
31
38
1800 119/2 119! 2 119
2630 84
4000 100
2600 19
86%
82
80',;,
97/s
19
84/;
79
111% IO3/2 103%
99 98'/2 98%
S43e
100
19
Wt
83
6 Rep Iron & Steel ... 81600 110
7 Rep Iron & Steel pf 400 99
? Replogle Steel . 500 45/2 45/2 42-/2 42\2? 2% 43 45
5.50 Ry! Dtch N Y shares 126C0 103% 105% 100% 1C0%? 2% 100% 101
'.4
34
Savage Arm
Srtxnn Motors .
14' a 1 St Joseph Lead _
15% ? St Lou & San Fran.
23' 2 ? St L & San Iran pf
St Louis South'n....
St L Souih'n pf ....
Seaboard Air Line. .
Shattuck & Arizona.
% Shell Trans Ter . . .
403 74 74 73?
4900 I8/4 18% 17
100 16% 163,, i6i
2003 23% 2334 225
200 33% 33/, 32'/
11 ?
21 ?
6-2 ?
10% ?
3434 ?
64 6
30
9%
13
SO'4
4834
82
105%
26? 8
5834
4 5 %
89%
110%
250
58%
12%
231
213
2C8
47 23 ?
95i2 61 6
17 12 --
38% 20 ?
66% 54/a ' 5
1C6 87 8
'38 27% ?
125!2 110 10
69% 65 4
53 40/2 4
206% 176 12
13% 8^4 ?
16
26/
16
27/2
8/2
12
79%
44
76
16
26/f
8'/;
18
50
39
50
80'
1003.;
41
9/
166-/
156!
H8
12
78 V?
43-4
75
31400 101'a 102/2
6600 24-4 24%
700 58/8
830 44
5100 83%
41%
74
99-4
23/a
57%
44
76
109-/4 101-/2 1:2%
250 237/2 2'8
58%
44%
85%
2934
23-2
55
31%
78%
20% ?
15% ?
48 5
23 ?
53 3 8 6
1163-B 77% 8
5638 40 ?
96% 91-4 ?~3
116-/2 11014 8
115/2 110 8
76 61/2
109 S2-/4
11534 1C9%
80% 68%
no
200
100
300
10100
Sinclair Oii . 2C800
Sloss-Shctr St & Ir. . 1600
Southern Pacific
Sou'hern Rail . . .
Southern Rail pf
Stewart-Warner
Strombcrg Carb .
Studebaker . 49100 109
Siutz Motors . 5100 243
Superior Steel . 4900 575
Tenn Cop & Chem . . 18C0 103
Texas Company .... 26100 215
Texas Co 30% pd
Texas Co full pd
Texas & Pacific .
Tobacco Products
Third Ave .
Transcon Oil . 2600 26
Transuc W Steel ... 100 62
Union Bag & Paper 2600 103
I'nion Oil . 3900 34
Union Pacific . 2830 120% 12138 120
Union Pacific pf ... 300 ' 66J/4 66!4 66?/
United Alloy . 400 50 50 49
United Fruit . 900 I38/2 198% 198
United Ry Invest . . 1000 12% 12% 12
United Ry Invest pf. 300 25% 26 25',
U S Cast 1 P & F.
73%
17%? :
16%
22%?
321/2?
15 -
27/2+ 1
8'/a?
11% 11%?
77 .77?2
VA
73
17
16
221/2
32
16
27
8/4
11%
77
74
17'/2
1638
23
33
17
28
834
12
77%
41%? 1% 41% to 41%
74 ? 34 71 74
99'/2? 1-/2 99% 9934
23/a? % 23/2 233/4
57%-v % 5754 5734
44 ? \/z ? 44
76 ? 7% 76 76/2
638 IO2/4 IO2/2
3 247 249
58- g
10%
?20
400 209 209
600 208 208
30900 45% 46%
1800 75% 75%
800 15 15
26
62
106
34
54/2 54/2? 2'/2 54% 55/j
10% 10%? 38 1038 107/?
204% 206 ? 8% 205/2 207
209
2C5
42%
68
14/2
243/4
62
100
32/,
239 ? 4
205 ? * ? ?
4234? 2/8 42?4 43
69%? 5% 69% 70
14'/a? Vz 14 14/a
25 ? 1 24% 26
62?1 59 61%
103%+ 134 103 104
32%? 1% 32% 32%
120 ? % 1197/3 120
66%- 66 66%
49 ? 1% 49% 50
196 198
12 12%
25% 26
u s c i p & F pr.
V S Express .
U S Food Prod . . .
U S Ind Alcohol .
U S Realty & Imp.
19/2
53
30/2
64
93%
51%
20%
55
31%
65
93%
52
76% 77%
12%
70
78%
C1
10%
31
58%
12%
20-2
32
65
83-/4
55%
82-2
14'a
22! 2
66%
32
130
95%
6
5
7
6
9 ?
42 6
59's 4
76 6
7% ?
20% ?
48'2 ?
8% -
14% ?
20'/a ?
54% 4
82 7
48 4
64 5
9% ?
16 ?
49 4
22% 1
120 8
67 6
69'/<
198 ? ?%
12 ? 1 2
26 + %
2100 2133 21% 20/4 20-/4? %
400 54 54 54 54 -'
600 31 31 30% 30%? %
3000 65! 2 65% 64'8" 64%? 2%
2?G0O 99% 100% 93 93%? 6%
400 52% 52% 51% 51%? 1%
I nited Retail Stores 231C0 81% 81% 76% 76%_ 414
V S Rubber. 26900 113% 113% 107% 107%? 5% 107'/, 108'.
U S Rub 1st pf.... 400 111% 112% 111% 112%+ % 112 113
U S Smelt & Ref... 1000 68% 69% 68 68?1 68 68%
u s steel .110600 102% 10334 100/2 100%?2% 100% 1003.*
U S Steel pf . 200 113% 113% 113 113%+ \/z 113 113%
Utah Copper . 9800 75% 77 74% 75 ? % 747/a 75
Utah Sec Corp .... 100 10 10 10 10
Vanadium Steel .... 32800 67%
Va-Carolina Chem . . 1800 74
Va, Ir. Coal & Coke 100 89
Wabash . 800* 9
W abash pf A. 2900 27' 2
Welis Fargo Express 100 58%
West Maryland .... 4100 10%
West Mary 2d pf... 1900 16%
West Pacific . 6900 31
West Pacific pf. 100 63/2
Western I'nion Tel. .
Westinghouse Mfg . .
Wilson Co . 400 72-/4
Wheeling & LE_ 2400 11%
Wheeling & L E pf. 400 19/2
White Motors . 9900 63
Willys Overland ... 8900 25% 25% 24 24%- % 24% 24%
Woo worth . 200 124 124 124 124 - 124 128
Worth Pump & M.. 2600 8234 82?4 77 77?5 77 70
Worth PA M-pf B. 400 72% 72% 72% 72%- 3% 72 72%
700 86% 86/2 863,8
400 53 53 % 51%
Week
Yesterday. ago.
Argentina, cables .101.90 101.60
?Brazil, Rio, checks.... 27.75 27.875
Brazil, Rio, cabios. 28.00 2.3.125
?Murks, checks . 1.31 1.20
I Murks, cables . 1.32 1.27
Czecho-Slovakia, checks 1.84 . 1.28
Dividends
Extras
American Shipbuilding Company ? An
extra dividend of _'4 per cent has been de?
clared In addition to the regular quarterly
dividend of 1*. per cent, boll, payable Hay
1 to stockholders of record April 15.
Stock **
American Piano Company?A stock divi?
dend of 6 per cent has been declared In
addition to the quarterly dividend of 1 '-j
p**r cent on the corqmon and Is? per cenv
on th?? preferred stacks, all payable April
1 to stockholders of record March 24.
Regular Declarations
RatO ?lid Holders
Period Paya Wo of R? c.
American lee pf.. I >.j Q Api _4 Apl 9
Cleveland Auto pf. $2.00 l. Apl 1 Mar SO
Jlarrisburg L pf.. 1,Q Mar 31 Mar 17
Hupp Motor Car., _ >-j Q May 1 Apl 1,"?
Mfrs Light & 11.. 2 Q Apl 15 Mar 31
Pittsburgh Coal ., 1 *i y Apl 24 Apl -
do pf . l'jl! Apl 24 Apl 0
Standard Bank .. 3 Q Apl 1 Mar 30
Taylor-Wharton *_ -Vi ? Mar 31 Mar |4.
Bid and Asked
Bid.
?'halm pr v,' .
A? (a pr.
? Hak Note 40
44
A Btvt S pr. S2
, A Jt s ?v l-'v uo
A Cot Oil pr 85
Am Ice Six- pr t?.?.
. A Unseed i>r 94
Am U,eo pr 10".
, Am M dit & G 35
1 Am Sm pr a HI
Am Snuff ...n?)
i do pr . 80
I A St Fy pr 91
A Sum T pr SSH
Am Tel <_ C. 00
Ann Arbor pr _4(.
: Awns HI Co. 4
! A D G 1st pr 66
i d.? '..I pr... 65
. At Ulr & A. 8
, At Cosst L. S?iT?
i At.' & W 1 pr ?a.
i AUto Sales pr L'D
bar Lesthor. .. a.?
rl<> PC . 89
Barrett Co pr.100
Hatop?as M... i\
Beth s Tin pr B7M
I Bkn Kdison. . ii".
Hkn I a Ua?. 5T
Brown Shoe. . !??"?
61
10114
111T4
?0
I ?is
Bu
pr
Brs pr.ll>4
Bruiiswluk .. 6\
Bun* R & P. 80
ButT & Sus.
do pr ..,.
Bush Term..
no
...
ill".
?too
!,, BU. A
?|?-au Southern 41
Case .i i pr., ,?;
-em Kdry... is
I ' do pr ... : ;
Ceil of N J. .191
- ?S? !S A Tel ii,l
Certain I i;ed 53
do 1st pr... 82%
'-hi & Alton, s
??'o pr . i2V4
C & E III... io2
? & Pitts... -
CSP M * 0. eo
do pr . fjO
- <-' C & s L 49 V.
?dp pr . ,J5
Cluett Boa pr.lOOVi
Oil & So.. 24
do Jst pr... 51^4
do _d pr... 4o
< on Cigars pr Sl>?
ijgont Can pr.llll
?out Ins Co.. 76
M'uru Prod prior,
I'1"'* Cal-pe!. . 60
Cubs Au Su.440
Ldo w .102
lUeere < o pr R0*??
pet Edison, . 108
al.-l In Kit. ?
[Diamond M. ,.120
? S S & A. 44
i ?I" l?r . S
?Din-ham Hos. r._T.
I do pr .99
Fed M & 8. lau
Msher By pr.100
l?en ?Them_1S8
do pr . 95
G011 t'l?_r pr 97
1 do pr deb. 86
l?k
ii*.
in-,
5:;h
82-%
108
S'l
10814
f s
450
111
10014
l 0
HI
?,0
101
15
108
191".
96
100
?2Mt
<; m & n
Bid. a
\n nui*
l-.< FS&M
K C;.
Koli*,
Spr
pr. .cz
pr. 4ti
48
71
99?
cto S po or. lui V* 105
Kk,.-<?>? Wli pr. 9fl 9S
Kn.^'o S B ..135 185 I
do pr .10'J 1US |
Kress & Co.. 7S ?
no pr . 8s \4 ?
1 L?clenle (?a3... 40 45
Lake K & W. 11 13
i do pr . 16 '.?-H
Llk'g Ac M T. .16
?j-;a
do pr
: L-W His
Lorillard
Louisv &
Manat? s
; d" pr
Mai-but '
Ma ibat i
: M.-,uii.it. I
.102 105
.. 5.1 55
. . 07 H fSVij
..111 127
Bid. Asked.
N'ash ? Chat..103 il.*
Nat biscuit...lit) 120
uo pr .ll-i'.i il.)
N C & -s pr :<"? 100
.\ ?; ,v s pr. au toi
\at .'., .?-1 pr.107% lw>
NUR M 1st pr ? 15
XYC&SL 1st. 58 UJ
iNorf & W pr
IN'ortli Ain .:.
Ulllo rue! ..
Otis Kiev pr..
Owens Bot M. 58
du pr . ?
(Pacl?o Coast.. 25
il pr... 45
P Aoi Pet pr. 175
Penn 1 C pr.. 91
Peor?a & K.. 134 U%
Pero Mar pr. 415 50
PettI M?111... 41
do 1st pr... 98
Pterco Ar pr. .101
Plereu OU pr. V?
P F W & G. 120
Pitt* Steel pr 88
P & W Va pr 70
04
101
40
115 '
10? H
94 g
1-J4
91
N J.
Mux M 2d pr 2!
rty S: Spr pr
Heading 1*4 pr
\ no lin pr...
Bern Typo Ir
i Uo Ut IT..
?Up
Moj? Pet
Mli-li (Vi
MSP& S
ilo pr
St pr.lOJ lili
100
28%'Saara lio
s m ra
90
92
dp lad Unes, 53 58
?font Pow pr 98 100
Morris t? Eh.. tiO 611
Mullios Body.. 44!, 45
do pr ..... er ??
...114
pr 90
,u pr.
. t03
do
S-s 8 (
s p n
do pr
Standard MU?.i:
do pr . 8
Istudeoaker pr.l0i?4 101
I.Hup steel pr.100"? 103
It & P Id tr.250 500
Tidewater OU.21? 225
?:to
113
140
90
Bid. Asked. Bid. Asked.
TS1, & W ?fa U 15 iU S H & Ji pr 4? 47 ?_
do pr ctfs.. H 23 va Car Cli pr.lll 111!*
Twin ?any ?? r 30 ;>;> Vuiean JJetiu. -4 _U
do pr . - - S5 do pr . 88 :?o
UndonvocU T.167 170 West's. A 11.114 114??
ui) p.- . ? 1-0 West'sa M 1st (?4 65
Un ciK-r st..125 -i?? wi.son Co pi. no ?7
?to pr .110 U0 I Willy? O pr.. 86V? 89
United Drug..135 13? \VU Centrai.. _s 32
do 1st pr... 50*4 51 Woolworlli pr.110 113
do -d pr... 130 ? \VP & M pr A 90 9.
V S I Al pr. 97 9s?*!
Continental Candy Earned
71 Cents a Share on Capital
The income account of the Con?
tinental Candy Corporation for the
eight months ended December 31, 191-,
disclosed net income, after expenses
and Federal taxes, of $358,872. equiva?
lent to 71 /cents a share earned on the
500,000 ?hares of capital stock of no
par value.
Net sales in the period amounted to
$3,155,688. From this $2,280,433 in :
merchandising costs was deducted, leav?
ing gross profit on sales of $875,155. '
Selling, administrative and general ex?
penses totaled $516,283; leaving a
balance, after Federal taxes, o? $358,
872.
In Wall Street
Blaming the Banken
If ?they," In thl? ?M?S*ninff?,
bank??, ?ouJd have heard the ?Pithe1?
hurled at them yesterday by disgruntled
speculators when the market was weak?
est, their ears would have tingled.!
Commission house habitu?s were loud
in their denunciation of what tney
called "rank manipulation of caw
money rate. Apparently the feeling ot
such traders was that prices of stocks
ought to go on rising without ,nter
ruption. The saner view taken of the
general market was that*, a reaction
was overdue and that the squeeze in
money rates precipitated it. As a mat- i
ter of fact, many observers have felt \
all along that traders in stocks should
recognize that in view of the strained
condition of credits sharp price swings
in stocks, down as well as up, must
be expected.
"What Do You Think of the Market?"
A banker: "This reaction is a good
thing for stocks. Some of the indus?
trials were getting out of hand. I
think that many seasoned stocks are
cheap and can be bought advantage?
ously. The trouble with most people is
that they pick out the most dangerous
stocks when they buy for speculation,
with the result that they get badiy
hung up at times."
International Paper
The annual report of the Interna?
tional Paper Company is expected to
be issued some time before the end
of this week. Wall Street looks for
a balance earned on the common stock,
equivalent to approximately $25 a
share. The rise of a few days ago
in tilia, stock above 90 to a new high
record was due largely to buying in
anticipation of the early publication of
the report. Paper rccec.ed with the
rest of'the market yesterday, declining
to 8,3% after selling in the forenoon
as high as 88Vi.
California Petroleum
Til? annual report of the California
Petroleum Corporation and subsidiary
companies as telegraphed to Wall
Street from San Francisco yesterday,
shows gross earnings of $4,621,654,
compared with $4,154,354 in 1918 and a
surplus after preferred dividends and
other charges of $431,132, against
$303,282 in 1918. The increase in
operating expenses for 1919 over 1918
was due largely to the increased ac?
tivities in development work and to
an increased wage scale as determined
by the President's commission and the
committee of oil and gas operators. All
amounts expended for lease rentals
and for incidental drilling cost of new
wells were charged directly to operat?
ing expenses. The company's Mexican
properties are reported to be in the
same condition as the preceding year,
no development work having been_ at?
tempted owing to unsettled conditions
in Mexico.
Copper Sales Heavy
Copper metal sales so far this
month are estimated at 100,000,000
pounds, including .20,000,000 pounds for
export. Copper 'producing interests
assert that the buying will likely ex?
pand into much larger proportions
next month in view of steps now being
taken to finance foreign sales. Sell?
ing of the mdtal since December has
not only reduced the surplus of metal
but is said to have absorbed all the
first quarter and the greater part of
the second quarter output of the larger
producers.
Operations in Louisiana
Despite rumors that the wells in the
Claiborne field are rapidly turning to
salt, ana that calamity is overtaking
the North Louisiana oil fields, Caddo,
Claiborne and Bull Bayou continue to
gush forth oil in quantities which
promise to make the Pelican State one
of the leading producing areas of the
whole country, according to "The Oil
City Derrick." It is stated that not
only is the yield holding up, with new
wells coming in almost daily, but some
of the gushers which came in originally
with a production of from 10,000 to
20,000 barrels in the Homer field are
coming back strong. "Oil men," says
'The Derrick, "throughout the coun?
try are watching the action of the
wells in Claiborne with keen interest.
Operators who have large sums in?
vested in the fields are constanly ex?
tending their operations and declare
they feel certain that the Homer pool
will prove one of the most productive
and longest-lived of all pools."
A Banker's View on Money
An officer of one of the largest com?
mercial banks in the country predicts
continued firmness in money rates until
well into June. He bases his predic?
tion upon the increased demands upon
the credit supply in connection with
the crop planting season now at hand.
The farmer needs money to put his
crops into the ground, just as he needs
money later to harvest those crops.
This demand usually lets up around
June. The banker belieVes that barring
unexpected developments, a period of
comparative ease in money should be
experienced from June on, until the
fall demands begin to be felt.
Union Pacific Seeking Funds?
Union Pacific was reported yester?
day to be inquiring as to terms on
which it could do equipment financing.
The amount mentioned was $25,000,0(10.
Union Pacific is one of the roads which
made an equipment trust in settle?
ment of its obligations to the rail?
road administration, and those in
touch with the affairs of the road in?
dicated that any financing for new
equipment would probably be delayed
until the material was almost ready
for delivery.
Liberty Bond Ruling
A resolution passed bv the govern?
ing committee of the St*ock Exchange
yesterday, directs that all transactions
in Liberty bonds, based on the
Stpck Exchange Quotations, in which
members are interested must be trans?
acted on the floor of the exchange. -In?
fringement of the rule, the resolution
stated, "may constitute an act detri?
mental to the interest and welfare of
the exchange."
??? ?
Grand Trunk Earnings Smaller
^MONTREAL, March 24.?The Grand
ior-Hrnk?rR?,lway showed a surplus of
??77,600 for operation of its lines in
Canada during 1919, or '?61,000 less
than the previous year, according to
complete returns from its properties
m-Bde public here ,to-day. After allow?
ing for an estimated deficit of ?276,500
on branches under United States gov?
ernment control, there remained a sur?
plus of ?1,100 or ?700 less than" in
Stocks Ex Dividend
Mar 31?Allis-Chaimers iitg vt i 4s
Mar 26?Associated Oil. . . ? 2
x?ar^-~oUanUc Na,l?nal B?4. e'x'vi "? 2 3
Mar 2??Barnet Leather pf iv
^?ar 2??Central Coal & Coke! '. '. '. [ [ ' ' i ?x
Mar SI?Central Coal & Coke pr i v:
Mar 25?Citizen? National Bk of'i*i"f a
Mar 30?C, C. C & St L Ry pf 7li
Mar 25?Computing-Tabulating Record, 1 *
Mar 81?Consolidated Textile "???**? *
Mar 29?Continental Candy CorpTrnp' u
Mar 31?Detroit Edison P' o*
Mar31?Fifth Avenue Bank. g
Mar 31?First National Bonk.'..'..io
Mar 31?General Chem ex In com'stk'O
Mar 31?Gold and Stock Tel ' "u
Mar 2D?Ureat Northern Iron Ore*Pro?
?. ,.r , lrU8t ctr? Be" Int_ 2
Mar 26?International Harvester.. ' i u
?iar r,?-^-0'1"' & Chicago R k ....:. " iv
Mar -'&?Kan City, Ft Scott &. McmpM?
M=ri, ?^CoTfCtflljGldpf".,, 1
Mar 31?-kansa? i-*.ty Southern pf.
Mar 27-Kayser & Co. " ?
Mar :il ?Monongahela Val Tr vt ' " ?L
, Mar 31 ?National HiSeutt " i?
Mar 27?N Y. Ontario & West Ry ! ! 1
??ar l\~-N1aea<-a Falls Power of... . " ? ?
Mar 31?Otis Elevator_ ?
Mar 31? do pf. iu
Mar 31
Mar 26?public Servic-s'olfN J*'.'. '.['/.'. [ ?"
Pacific Ga? andJ?iec."''.".?.'?."' 114
?arH?Eaolflc Te? and Tel pr;;;:;;; i2
Mar 26?public Service ofNJ.. ?*
Mar ?1-u s Ind AIcoMbl ?????.'?H 1-4
Aiding
American Commerce
in France
PQUIPPED with nearly
*-' 32,000 miles of raj|L
ways, France is restoring
her war ruined industries.
New railways have been
pushed into Alsace and Lor.
raine. Rapid progress haa__
been made in rebuilding
27,000 factories and nearly
half a million homes. Franca
looks to America to replen?
ish 300,000 farm implements
carried away in the war.
In Paris, the center of French
finance and commerce, at
No. 1 Rue Taitbout, ? a
branch of the Park-Union
Foreign Banking Corpora?
tion, established to assist
American business men
toward closer relations with
France.
OFFICER??
Charles A. Holder, Pr?sident
T. Fred Aspden, VI?--Prudent
K. U. MucKrnilf, ?>.-. retary man
Trmaxirer
Park'Union
FOREIGN BANKING COi-TORtflOI
56 Wall Street, New York
Paid Up Capital and Surplus, ti.m.m
Why Short Term
Investments?
Short term notes, of all
obligations of corporations,
secured or unsecured, yield
the best returns compatible
with security. They are lew
subject to fluctuation in
market value and ?re pur?
chased by those wishing to
keep their funds liquid and
at the same time get a large
return on the principal.
We offer a number of short
term notes to yield better
than 7%.
Write for circular No. 513
Bonbright & Company
Incorporated
25 Nassau St. New York
A
-5
A Convertible
Bond
Yielding 7%
Many investors prefer
to purchase convert?
ible bonds because,
while the security of
principal is ample, the
conversion privilege
offers opportunity to
share in the pros?
perity of the com?
pany.
We should like to
send you the details
about the bonds of a
company whose busi?
ness promises in?
creased earnings.
Ask for Letter So. .1-129
Herrick & Bennett
Members New Yorlf Stock Exchanl
>S Broadway, New Yorl
Telephone Rector 9060
G 1
MILLER &
ca
Members
New York Stuck '"?a-hange
The '
1920 Edition
Trader's Companion
may now be obtained
at odr main office
EQUITABLE BUILDING
120 Broadway
or at our branch offices
212 FIFTH AVENI'K
S. W. Cor. 26th Street
LONGACBE I? lUW-iO .
N. E. Cor. 42nd St & Broadway
NEW YORK
HELLWIG & RE?TTER
.'embers Net? Yorlf Slock Exchanl*
INVESTMENT
SECURITIES
25 Broad Street, Now York
Telephone Broad 6230
Nan Fuel Gas
J.K.R_ce,Jr.&Cp;
PfcoM? 4000 to 4010 Join. -?W-flStjjh?

New-York tribune. [volume], March 25, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

Connect with the Library

Find Us On

Subscribe & Comment

Download & Play

Questions

New-York tribune. [volume], March 25, 1920, Page 14, Image 14 About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

Connect with the Library

Find Us On

Subscribe & Comment

Download & Play

Questions

New-York tribune. [volume], March 25, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924