New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 30, 1920, Image 18

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New-York tribune. [volume], March 30, 1920, Page 18, Image 18
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New-York tribune. [volume] (New York [N.Y.]), 30 March 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-03-30/ed-1/seq-18/>

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Italian
Government
5-Year 6Vi%%
1925
Principal and interest
payable in Near York:
in U. S. Cold DoU
lars.
Price 97% and int.
Circular M-61.
Merrill.
Lynch
& Co.
Investments
Commercial Paper
120 Broadway
New York
Members New York Stock Exchange
Underlying
Railroad Bonds
We shall be glad to send
upon request a copy of our
April list of underlying rail?
road bonds, which we are
offering to yield from
5.15% to 6.50%.
Price ranges since 1910
are included, showing that
present prices are near the
lowest level of the past ten
years.
Members New Tork and Fittsbnrj-h
Stock Exchanges.
33 Pine St. New York
Union Arcade Bl?g. Pittsburgh
Western
Electric Co.
5 Year 7% Convertible
Gold Bonds
Due April 1, 1925
at 98*4 and interest
Yielding about 7.35%
Convertible at any time be?
tween April 2, 1922, and October
1, 192+, into the 7% Cumulative
Preferred Stock of the company,
par for par. Net assets 2Va times
total funded debt. Net earnings
for year 1919 2.45 times annual
interest charges on total funded
debt.
Circular on request..
Coggeshall & Hicks
Membera New York Stock Exchange
128Bro?dway 203West79thSt
New York
?
Foreign Bonds
Government
& Municipal
Many high-grade Foreign issues
are now selling at prices which
return a very liberal yield and in
addition offer possibilities for
market profit.
We specialize in the purchase
and sale of these securities.
Hartshorne&Battelle
Members New Tork Stock Exchange
25 Broad St., New York
Investment
Securities
RCMegargel&Col
27 Pine Street-New York
12 Per Cent Rate
For Call Money
Induces Selling
Stock Market Action Dis?
appointing, in View of
the Arrival of $9,300,
000 Gold From London
Twelve por cent call money induced
general Bellini, of stocks in the closing
hour yesterday. To interests working
on the constructive side of the market,
the falure of prices to mako a more
vigorous and uniform response to the
news of the actual arrival of $9,300,000
in gold from London, was disappointing.
For this was the development upper?
most in the mind of the trading ele?
ment since it confirmed in a measure
much of the rumor and gossip that has
been going the rounds of the financial
district for several weeks.
The market, however, labored under
the handicap of a break in its lines
of communication to the West and
South, due to the storm which inter?
rupted telegraphic connections for the
greater part of the day. As a rosult,
practically no business camo through
from the West which has been such
an important factor in the market sinca
the rise started. The wire trouble was
mainly responsible for the falling off
in business, transactions at the ex?
change dropping under the million
share mark.
Stocks started out with a fair degree
of strength and there was again plenty
of action in the highly nervous motor
and motor accessory shares. But the
movement was not general nor well
sustained, a fact which was soon
seized by the- the professional traders
as a basis for selling operations. Selling
became widepread in the afternoon
when the market encountered stiffen?
ing money rates. Call money renewals
j were made at 8 per cent and the rate
| held there until after mid-day, when
I it moved up to 9 per cent. A short while
i after it was again advanced to 10 per
j cent, followed by another rise in the
?final hour to 12 per cent. Preparations
I by the banks to meet government with?
drawals to-day probably accounted for
the short supply of call money, which
caused the tightening in rates. It, is
believed, however, that somewhat easier
money will be experienced before the
end of the week. The gold received
from England was turned into the local
Federal Reserve Bank and should,
therefore, reflect in this week's state?
ment.
Individual movements of stocks were
interesting, but not important. The
further spectacular rise in Stutz
Motors, which soared to a new high
of 337, after early weakness was. per?
haps, the outstanding feature, although
Crucible Steel attracted attention by
suddenly spurting to 261, thereby
equaling its top price of 1D19. Steel
I common displayed early firmness, but
I yielded with the general run of stocks
j in the final dealings. Oil shares were
! rather weak at the close, while among
I the specialties Columbia Gas and Elec
\ trie responded to the publication of the
? annual report with a spirited advance.
Ever since the first intimations that
| England and France were considering
? shipping gold to this country as one
; way of meeting the $500,000,000 Anglo
French loan maturity of next October,
j the argument of the stock traders has
I been that such an influx 'could not
j help but be beneficial to the general
i credit situation, since large gold im?
ports would tend to build up impaired
I gold reserves. Now the first gold has
? come through. Another shipment, esti
j mated at $10,000,000, is reported en
j route to New York. Plow extensive the
; movement will be cannot be learned.
It would not be surprising if $50.000,000
were to be shipped from overseas in
the course of the next few months.
It is believed England can spare the
gold. It is only a question of whether
such a large shipment would be a wise
proceeding, for while it would undoubt?
edly help here, it also would weaken
the position in London. Bankers in
touch with the domestic credit situa?
tion held that it does not necessarily
follow that such gold as arrives will
be used for basis of additional credits
such as the stock market following
might desire. The thought is that
the gold is needed to bolster up present
reserves,, which have been reduced to
a dangerously low level through a
rapid loan expansion at a time when
gold was being lost on export. The
foreign exchanges were easier yester?
day.
Money and Credit
Call money advanced to 12 per cent
yesterday, following a renewal rate of
8 per cent. The rise was attributed
in banking quarters to continued shift?
ing of funds incident to the passing
through the banks of checks received
by the government in payment of in?
come taxes on March 15. The April 1
dividend and interest disbursements
are not yet a factor in the call money
market, according to bankers. Time
money rates were unchanged.
The ruling rate for money yesterday,
compared with a year ago, follows:
Yester- Year
Call money: day. ago.
On mixed collateral... 8 0
On industrial collateral 8 61,.
Time money (mixed col?
lateral) :
Sixty days . 8 ?? 8% 5V_@5%
Ninety days . 8<?8% 5%@5%
Four months . 8(aSV. 5%@5%
Four to six months 8@8% 5%@5%
Bank Clearings?Bank clearings in
New York and other cities yesterday
were:
Exchanges. Balances.
New York_$606,102,421 $86,169.716
Baltimore - 13,323,225 6,498,584
Philadelphia... 68,412,632 23,522,022
Sub-Treasury-United States Federal
Reserve credit balance, $83,277,954.
Silver.?London, 71%d; New York,
$1.26%; Mexican dollars, 97fi.
The Dollar in Foreign Exchange
Despite the arrival on the Lapland
on Sunday of $9,000,000 of gold from
England, sterling exchange reacted yes?
terday. Demand sterling closed at
$3.8775 yesterday, compared with $3.93
on Saturday. The rise on Friday up to
$3.96 for cables discounted the arrival
of gold.. Francs and lire also were
weaker yesterday.
Yesterday's rates, compared with
those of a week ago, follow:
(Quoted dollars to the pound)
Week
Yesterday, ago.
Sterling, demand.$3.8775 $3.7775
Sterling, cables .3.8850 3.77
Sterling, sixty days._ 3.84125 3.73
Sterling, ninety days... 3.8225 3.7150
(Quoted units to the dollar)
Francs, checks .14.62 14.29
Francs, cables .14.60 14.27
Belgium, francs, checks.! 3.87 13.72
Belgium, francs, cables. 13.85 13.70
Lire, checks .....20.24 19.77
Lire, cnbles.20.22 19.75
Swiss francs, checks.... 5.77 5.84
Swiss francs, cables. 5.75 5.82
(Quoted cents to the unit)
Guilders, checks .36.78 36.50
Guilders, cables . 36.8125 36.625
Austrian crowns, checks .46 .46
Austrian crowns, cables .47 .47
Sweden, checks . 21.30 20.73
Sweden, cables. 21.40 20.83
Denmark, checks . 18.25 17.70
Denmark, cables. 18.55 17.80
Norway, checks . 19.10 18.20
Norway, cables . 19.20 18.30
Pesetas, checks.417.32 17.37
Transactions Yesterday in Listed Stocks
Record of Stock and Bond Averages
(Copyright, 1920, New York Tribune Inc.)
Day Year
Yesterday. Before. Ago.
20 Railroad stock? . 66.83 67.20 71.00
30 Industrial stock* . 101.33 102.73 89.97
50 8tocks._ 87.54 88.52 82.38
10 Railroad bonds . 73.07 73.11 79.96
10 Industrial bonds . 88.78 88.66 94.97
5 Utility bonds . 73.40 73.40 85.40
?5 Bonds . 79.42 79.39 87.05
Range thus
far 1020.
Range full
year 1919.
nigh.
68.70
110.30
92.06
76.28
91.45
74.53
81.71
I.OTT.
58.60
88.70
77.14
71.76
83.66
73.24
79.37
High.
78.80
119.33
99.54
82.80
95.70
87.75
87.91
Low.
63.35
79.20
75.92
72.83
90.58
71.80
80.21
Summary of Stock Exchange Dealings
(Copyright, 1920, New York Tribune Ine.)
Day
Before.
88,200
638,700
726.900
Yeaterday.
Railroad stock? ... ' 99,700
Other stocks ...... 764,200
AU stocks . 863,900
Yesterday. Day before.
U. S. government bonds. $6,243,000 $4,091,000
Railroad bonds . 1,191,000 792,000
Other bonds . 1,880,000 1,426,000
All bonds . 9,314,000 6,309,000
Year
ago.
134,100
602,600
736,700
January 1 ta date.
1919. 1918.
7,948,600 8,299,500
34,641,700 28,264,700
42,490,300 26,564,200
Tear ago, 1920. 1919.
$8L219,000 $779,316,000 $588,343,000
1,964,000 86,892,000 81,119,000
2,881,000 108,416,000 99,114,000
13,064,000 975,624,000 766,576,000
1920.
9,691,700
68,114,800
67,806,200
Year ago.
High. Low. Dir.
1920. 1920. Rate
381/., 25 ?
46% 341/4 ?
72 65* 6
2% V/s ?
2'/a 1% ?
53f8 361/4 ?
95'/2 75 8
12834 105 10
61% 38% ?
14614 124i/a 12
15Kb 113/4
I 139 S5
I 30% 181/2
I 122 9.01/2
53?/a 38
! 120i/2 87
i 14'/a 1234
87% 7438
| 108'/4 82
I 44 30%
! 30!-a 16%
! 72 E6
| 50 39
! 140'/2 123I/2
i 106% 77
I 100% 96'a
i 74% 543-?
i S7% 02'/'2
M65?/2 1121/2
61% 38%
Adams Express ....
Advance Rumely ...
Advance Rumely pf.
Alaska Gold Mines.
2% 2'/a
44
89
Net
Sales. Open. High. I.ow. Close, chge. Bid. Ask.
100 38 38 38 ' 38 ? Va 33'/2 37
1800 40% 46% 44?/2 44'/2? 1'/a 44 45
200 70'2 70/2 70(/2 70/2? !4 70/a 71
-100 2's 2',8 2/8 2/8+ Va 2 2/a
Alaska ?luneau . 1100 2% 2% 2% 2%
Allis-Chalmcrs . 300 44% 44% 43% 43%- % 43
Amer Beet Sugar... 1400 88 89% 88 89+1 88
?mcric?n Bosch .Mag 5900 119 124 119 119%+ 1% 119 120
American Can . 1100 49/a 49/2 48/4 48'/4- 1/4 48/4 48%
Amer Car & Fdry? ? 12800 143 146% 141 ?/* 141%- 1? 1^%
80 Am Drug Syndicate. 13900 13 13% 13 13%+ % 13% 13%
American Express . 1600 135 139 135 137/2+ 5/2 132% 1o8
700 27/2 27/a 27 27 ? Va, 26/a 27
600 1173a 117% 116/4 116/4? 1/2 115 H?
200 52 52 52 52 + Vz 6? 52
3700 102% 103% 100% 100%? V/a 100% 101/4
?00 ' 13 13 13 13 - 13 13/4
Am Hide & Leath..
Am Hide & Lcnth pf
Amer Ice Securities
Amcr Inter Corp....
Amer La France
Amer Linseed . 200 83/a 83/2 83
Amer Locomotivo ... 3900 1C5 106
Amer Malt & Grain. 2C0 35 35
Amer Ship & Com... 500 24% 25
81 ? Va. 82 83
103 103/o? 1% 103 % 104
S5 35 - 35 38
24% 243,4- 24 Va 24%
Amer Smelting . 1400 69/4 69% 68 68 ? 1/a 68 68%
Amer Steel Fdy. ?600 47/2 48 47/2 47%? '/? 4% 8
Amer Sugar . 1200 130 132% 130 130/4+ /4 130 131%
Am Sumatra Tob... 4600 102/2 102% 99 99 ?3% 99 99/4
Amer Tel ?S. Tel. 300 97 97 97 97- 96% 98
Amer Tob Soc ..*... 6900 67 67 64% 65 ?1% 64% 65%
Amer Tob pf new... 700 97 97 97 97 - 96?/e
Amer Woolen . 2600 133% 134% 131/4 131 /4? 2 131
Amer Writ Paper pf. 100 48 48 48 48 ? 1% 47
21%
59 Vz
65! 2
67%
R6%
82
176%
15% -
50 6
54 4
43 ?
76 6
76 5
137 10
54%
19% 12/2 ?
American 7-inc . 200 19% 193/4
American Zinc pf.... 200 54% 54%
Anaconda . 4600 64 64% 63! 4
Asso Drv Goods. 200 43 43 43
At, Ton & San Fc. . 700 83% 83% 81%
At, Top & S Fe pf... 100 79 79 79
At! Gulf & W 1. 5900 169% 172% 165
Auto Sales Corp. 100 13% 13% 13/;
98
132
4P
19/4 19/4? % 19% 20
55%
63%
44%
54%? % 54
63%? 1% 63!
43?2 421
81%? 138 81% 82/2
79 + % 78
165 ? 3 105
13%+ 1 13
?Jlgh. Low. Dir.
1920. 1920. Rate.
9134 63 6 Lackawanna Steel...
Leo Rubber & Tire..
Lig & Myers Tob ris. .,
Loews. Inc . 1200 29% 30% 29% 30%
. .. -, .__ -mn. on /. 201/. 2O/2 20/g
38% 28 ?
16% 15% ?
32 25% 2
28 17% ?
183% 145% 12
9 8 ?
393/4 7
18% ?
18% ?'
47% ?
117% 7
Sales. Open. High. Lew. Clow. ?*<???"? ?_*?
1300 79% 80 78 78-1% 77% 78
400 34% SB'/?. 34% 35/4+ % 34 35
800 16% 16% 16% 16%-? ,n|.
62/t
37/
35/
623.?
134
29% 30%
200 8% 8% 7%
100 50 60 60
100 37 37 37
100 31% 31/a 31
200 54?4 55 54%
100 132 132 132
161% 10
21% 2
222
26
71%
62%
18%
11
18
31%
49%
40
69 Vi
51
40
72?i
12 8 ?
89% 66% 6
86% 72% 6
Lorillard, Pierre, rts
Manhattan Elevated.
Maxwell Motor Co. .
Maxwell Mofr ctfs.
Maxwell Motor 1 ctfs
May Depnrt Store?. .
Mexican Petroleum. .
Miami Cons Copper..
7%
60
37
31
55
132
8
51
35%
31%
56
22%
42%
9
6
8%
21
36
38%
6138
36%
35%
44
1.20 Middle States Oil
8600 201
200 24
3200 317.
202% 196% 197
24 23% 24 +
31% 31%. 31/4?
? 4
Midva.e 'Steel . 200 47% 47% 47% 47%
Minn & St L new. . .
Mo, Kan & Texas
Mo, Kan & Texas pf.
Missouri Pacific.
Missouri Pacific pf. .
Mont Ward & Co
Montana Power .
Mullins Body . 5600 46% 47%
National Acmo . 200 37% 37%
National Aniline . . . 200 65 65
Nat Con & Cable .. 100 11% 11%
Nat Enam A Stamp. 200 78 78
400
200
200
600
200
1000
100
14%
16% 16% 15% 15%
C% 8% 83/4 83/4.
14% 14% 14% 14%
29 29 28% 28/4? % 28
441/, 44% 44% 44%? Vz 44%
39% 4.0 39 39 ? % 39
68 68 - 68
46% 46%+ % 46
37% 37%? % 37%
65 65?1 64
11% 11%- 1'%
77 77 ? 1%
7%
60
36
31
60
131% 133 .
196 197
23% 24
31 31%
4634 47%
15% 16%
68
68
Nation
a! Lead . 300 83% 83% 82% 82%+ %
77
82
14
7%
17%
47%
117
77%
36%
48%
61
14234 103% 3% Baldwin Locomotive. 52600 135% 135% 131% 131%? 4% 131% 132
EC
13
102%
17
15
100
124%
11%
29%
28%
85| 2
46
75/2
09
134
104%
4934 -
. 1 ?
81% 5
10% ?
10 ?
OS 7
93 10
7% !
22 ?
17 ?
74 6
273/4 ?
65 7
59% 4
115% 10
72 5
Rarnsdalc . 400 4934 49% 49% 49%? %
>/*
49
1
28%
96%
15%
1% 1/4+
20% 2S%? %
95% 95%? 1%
15% 15%? %
11% 11%? % 11%
97 97 - 97
121 121 ? 1 120
10% 10%- 10%
49% ;
1/4
28%
96
1534
12
98
122
10%
61% 45% 4
164% 117% 10
59/, 47 4
10% 7 ?
27% 21 2
42% 30% ?
61% 45% ?
91 % 75 7
1203,4 113 8
110 78 6
Baiopilas Mining ... 100 1% 1%
Reih Motors . 600 29% 29%
Beth Steel, Class B. . 12600 97?a 97%
Brooklyn Rap Tran.. 400 15% 15%
Booth Fisheries . 200 11% 11%
Brown Shoe pf. 100 97 97
Burns Bros . 700 121% 123
2 Butte Cop & Zinc... 1300 10% 10%
Butle & Sup Copper. 1200 28 28% 27% 27%? % 27% 27% i
Caddo Oil . 200 23% 23% 23% 23%- 23% 233/4)
1600 81% 81% 81% 81%+ % 81
3C9 39% 39% 38% 38%? 1% 38%
100 69 09 69 69?2 63
400 67 67 653,4 653/4? 3% 60
300 123/a 123% 122% 122%? 2/2 122
2600 87| 3 87% 86% 86%? % 86%
1600 56% 56% 53% 53%? 1% 54% !?8
12900 160 164% 156% 157-%+ % 157% 153
14 ?
4% -
14 1
37% ?
92 10
64% 5
233/4
30
45
363/4 23% ?
100% 83 7
84% 68% 7
77% 5030
Nat R R Mex 1st pf
Nat R R Mex 2d pf .
Nevada Consol Cop.
N O, Tex & Mex
New York Air Brake
New York Central . .
N Y, Chi & St Louis
2% New York Dock -
5 New York Dock pf. .
300 14
3900 5%
400 15/
100 41
200 108
600 75
400 33
8%
15
28%
45
39%
69%
47
38
65
12
78
83
14
6%
14 14 14 + 1% ?
7% 5% 7%+ 2% 6
15% 15% 15%+ % 15% 15%
41 41 41+1 41 44
108 108 108 - 107 109
75 74% 74%+ % 74% 75
33 33 33+1 32 34
100
200
4634 46% 40% 40%? 6% 40% 45
51 51 51 51?3 51 55
NY.NH&H. 1600 34% 34% 34% 34%
96 96
79?4 80
413a
66%
2;'.'.
41%
40%
44%
65! 2
67
70%
93%
20%
93%
13%
95%
107
23%
64%
54
15%
31%
33%
36%
36%
53
55%
75
16%
78
10%
76%
101
35 % 25
%f?1 129
California Packing..
California Petroleum.
Calif Petroleum pf.-.
Calumet & Arizona..
Canadian Pacific .. .
Central Leather ....
Cerro Po Pasco.
Chandler Motors . . .
Chesapeake & Ohio. .
Chic Great West. . . .
Chic Great West pf. .
Chic, Mil & SI Paul
Chic, Mil & St P pf.
Chic & Northwest...
8 Chic ?*i Northwest pf
6 Chic Pneumatic Tool
Chic, P. I & Pacific.
7 Chic, R I & P 7% Pf
6 Chic, I? I & P 6% pf
? Otile Copper .
1% Chino Con Cop.
1 C'jca Cola .
3 Co! Fuel & Iron_
1 Columbia Graph ....
5 Col Gas & Elec.
6 Consol Cigars .
7 Consol Cas .
2 Con Int Cnllahan M.
7 Continental Can ....
1 Continental Candy . .
4 Corn Products .
7 Coin Products pf. . .
% Con Textile
12 Crucible Steel . 13100 245% 261
81%
39
70
70
123
?7
400 57 57
100 9 9
400 25 25'--,
700 38% 38/
209 551/2 55/
300 87 87
300 119% 119% 11934 119%+ 2% 117
1P0O 100 106 99% 99%? 4
700 36% 37% 36% 37 ? %
200 75 75 75 75 ? %
200 65% 65% 6D% 65%? %
300 19 19 1834 18%? 3?
600 37% 37% 36% 36%? 1%
500 36/2 36% 36% 36%? %
300 39 39% 39
49%
62
52 44
50% 38%
53/4 4% \
9! 2 6% ?
145 120 8
41% 28 ?
66 4
37 ?
71% 6
6734 7
37 4
40 3
20 ?
11 ?
23% ?
42% 34% 3
82% 48% ?
15% ?
89 8
51% 5
100
400
1100
800
100
100 141
200 32
62% 62% 62% 62%
51% 51% 61% 51%
45 .45 44% 44%
5% 5% 5% 5%
8% 8% 8% 8%
141 141 141
32% 31% 31%
7C
43
108%
103%
47%
43%
36
16
32
91% ! 113% 1123? 7 Stand Oil of N .1 pf
108 | 90% 73% % Shell Trans Tor ..
j 54%
! 9934
16%
' 29
; 147
! 15%
i 25%
I 17%
j 95
? 9034
36%
39% ?
89% 9
9 ?
99 5
9% ?
17% ?
12% ?
65% 8
85 8
26% 3
! 135 100% 10
48 33 3
36% 21 ?
19% 12 ?
192 175 8
75% 08% 6
3% 2% ?
172 152% 8
410 225% 1
89%
85%
?S'/a
10234
55%
73%
9%
24%
64%
92
49% 31%
84% 68 Vp
6
6
7
1
6
7
6 ?
2
33
5734
50
13
80%
50%
41%
84%
66%
18%
93%
61%
4% 3% ?
16% 9% ?
135 11234 6
114 110 7
51% 27% ?
76% 6
?? 111%
! 84
I 69%
! 91%
26%
i 51/o
; 21%
72 7
60 7
70% ?
193/4 ?.
35% ?
15 ?
! 19% 13% ?
! 152% 108 4
i 98% 96 7
| 33% 27% 2
48% 24% 1.20 Keystone Tire
Norfolk & Western. 100 96 96
7 Northern Pacific ... 6C0 79% 30
5 Nova Scotia Steel
2% Ohio Fuel .
4 Ohio Cas .
% Okla Prod & Ref.
Ontario Silver . .
Otis Elevator .. .
Otis Steel .
Pacific Devel . . .
Pacific Tel & Tel
Pan-Amer Petrol
Pan-Amer Pet B- 100 97 97 97
Parish & Bingham.. 1400 43 43% 43
Pennsylvania Rail . . 400 42% 43 42%
Pcnn Sea6 Steel ... 600 34%
Peor?a & Eastern . . 100 12
P?re Marquette _ 200 28%
Philadelphia Co _ 600 39
Pierce Arrow . 10700 71%
200 13
300 92
200 62
400 68
200 92
800 32
300 68% 68% 68% 6S%? 1% 68 72
?00 40 40 40 40 ? 1 39% 42%
91C0 104% IO434 993/4 IOO/2? 3% 100% IOO34
97 + % 96
43 - 42%
43 + % 42%
33%? 1% 333/4
12 - 11
28%? Va 28
38%? % 383/4 39
68% 6834
9634
43%
43
34
13
28%
34% 33%
12 12
29 28%
39% 3834
71% -673/4 68%? 2
13% 18 18 -
92 92%
61% 61 %? 134
68 68 + %
92 92 _
31% 31%? 34 31i/8 32
1% 19% 19%
100% 101%
92 Vi
63
68
92
32/
200 *20% 20% 19% 19%
400 102% 102% 102, 102
18 18/
91% 94
61 62
67 69
90 92
Pierce Oil .
Pierce Oil pf.
Pittsburgh Coal ....
Phillips Jones .
Phillips Jones pf. . .
Pitts & W Va.
Pond Creek Coal . .,
Pressed S.eel Car .,
Pullman Pal Car ... 200 120% 120% 120 120 + 2 119% 122
Punta Alegre Sugar 2900 85% 8534 82 82%? 1% 82% 84
Kail Steel ?Spring . . 300 99 99 98 98 - 97 98%
Ray Consol Cop _ 700 1934 20 1934 19%- 1934 20
Reading . 8600 86% 87 84% 84%? % 84% 85
Rcm Typewriter_ 100 86 86 85% 85%+ % 80 85
Rep Iron & Steel.'.. 13100 109% 109% 105% 105%? 3% 105% 105%
Replogle Steel . 800 "45 45 45 45 ? 1% 45 46'
110% 93% 5.50 Royal Dutch N Y Sh. 5600 105% 105% 103% 103%- 103 103%
80% 73 6 Savage Arms . 300 79% 79% 76 76 ? 6/4 75 78
?Saxon Motors . 1600 1734 1734 17 17 ? % 16% 17
St Joseph Lead. 500 16% 16% 16% 16%? % 16% 16%
?Si L & San Fran- 200 22% 22% 22% 22%? % 22% 22%
Stand Oil of N J- 100 805 815 802 808 + 6 803 807
400 112% 112% 112% 1123^? % 112% 112%
4600 7934 30% 77% 77%? 1% 77% 78%
Cuba Cane Sus;ar . . .
Delaware & Hudson.
Den &: Rio Grande. .
Emerson-Brandt
Rnclicolt-Johnson . . .
Erie .
Erie 1st pf.
Erie 2d pf.
Famous Players .
Fanions Players pf. .
Fed Min & Smlt pf..
Fisher Body .
Fisk Rubber Tire..'..
Freeport Texas . 200 25% 25% 25% 25%
Gaston Williams . .,
fi'rncral Chemical..
General Cifrar ....
Gen Elec rts.
General Electric .
General Motors ...
Genera! Motors pf. .
(?en. Motor.- G% deb
Gen Motors 7% deb
?Gen Motors ctfs. 16800 37% 37%
Goodrich, B F. 1400 63% 72
Goojlrich, B F, pf. .
Granby Mining . 800 49% 49%
Gray Davis .
Great North pf.
?fit North Ore subs. .
Gulf ?'".ate Steel.
Has & Bar Car Co. .
Hupp Motors .
Illinois Central .
Inspiration Copper ..
Inter-Cons Corp ....
Inter-Cons Corp pf. .
Inter Harvester ....
Tnter Harvester pf. . .
Inter Mer Marine. ..
Int Mer Marina pf. .
Int Motor Truck 1 pf
Int Motor Truck 2 pf
Int Paper . 130O 85
int Nickel . 48100 24%
Iron Products . 600 49
Jewel Tea . 400 15/
Jewel Tea pf. 500 38
Kansas City Southern 200 17
Kelly Springfield ..
Kelsey Wheel Co pf
Kennecott Copper ..
Sinclair Oil . 2600
Sloss-Sheff ?St & Ir..
Sloss-ShefT St fi. Ir pf
Southern Pacific . . .
Soulhern Railroad . .
Southern Rail pf. . .
Stewart Warner . . ,
Stromberg Carb
Studebaker .
Stutz Motors .
Superior Steel .
Tenn Cop & Chem ..
Texas Company
Texas Co 30% pd . .
Texas & Pacific ....
Tobacco Products . .
Tern C & F P Co. .
Transcon Oil ../..... 2200
Transue W Steel_
Cnion Bag & Paper.
Cnion Oil .
T'nion Pacific .
Union Pacific pf.
43% 3% United Drug 1st pf. .
57% 5 United Dyewood _
44% 443/4+ %
74 74 ? 1%
93 ?
99%? 1%
23%? %
57%+ 38
46%? 1%
89?5
93
99%
23%
57
46%
89
44%
74
91
99%
23%
57%
46
80
44%
76
99%
23%
'-4
72
45%
25/4
62%
72%
46
25%
62%
1/4
39
67%
64%
17%
90%
60% 59% 59%? % 59%
4% 4% 4%- 4%
15% 15 15 - 15
GOO 1287s 128% 126% 126%? 3% 126 129%
200 113 113 113 113 + 23/4 111% 113
37% 37'/a 36 35?1 3534 36
96- 96% 93 93%? 1% 93% 95
200 77% 77% 77% 77%+
200 65 65 65 65
3900
400
300
2800
20O
500
500
20?0
45% 46
4600 75 75%
100 93 93
1800 1003s 101
400 23% 233/4
200 57 57%
2100 48% 48%
1600 94 94%
11900 107% 108% 105% 105%? 2 105% 105%
2200 315 337 300 329 +11 333 " 340
600 57% 57% 57 67 - 55 56
5600 11% 12% 1134 1134+ i/8 1134 ii7/8
5100 213 215% 209 211 ? 1% 209% 211
100 207 .207 207 207+8 ? ?
1800 4434 44% 43% 43%? % 4314 4334
600 74 74% 72% 72%? "
300 46 46 46 46 ?
25% 25% 25% 25%?
100 62% 62% 62% 62%?
700 111% 111% 110" 110 + 4% 108 110
160C 34 34% 33% 33%? % 33% 34
300 120% 121 11934 1197/8_ 7/B 119^ 120
66% 66% 66% 65%+ % 66 67
50% 50% 50% 50%- 501,'8 50/,
57% 57% 57% 57%- _ -?I
03 200 200 "+ % 198% 200
12 12 12 12 ? % 1134 12
22% 22% 2134 2134+ 134 21% 22
, - .. r , ? , 54'^ 5*V4 54% 54%+ % 63 55
I a ] a ,, 1V- 10? 65'/2 65^ 64'/2 S4'/2? Vz 65
U ?S Ind Alcohol.... 71C0 95% 98% 93% 93%? 4/? 93?%
U S Realty & Imp.. 2600 5634 58% 56% 56%- 66%
2600 80 80% 77% 78 ? 2% 77'
113% HO/4 110/4? 1% 110% 110%
113 113 113 + % 112% 113%
r( ., n J2Y* ?Y* 7VA 71/4-1 68 70%
56100 105% I0534 103% IO334? 7/a 10334 10374
..'..-. -? "- 11278 113 - .A '?
73% 78% 77% 773/3- 1 7-ya 78
68% 63% 66% 67 ? 1 66% 67%
73%? 1% 73% 75'
112 112%
300
2C0
200
United Fruit . 800 200'
United By Invest.
USCIP&P,,,.
U S C I P & F pf.
100
300
400
85
24%
49
15%
38
17
83%
24%
47
15/
38
17
83%? 1/4
2'!%? %
47 ? 1%
15%+ %
38 -
17 ? %
600 136 136% 133% 133%? 2% 132 133%
100 96 96 96 96?1 95 97
1600 32% 32% 31% 315^- 34 3V/z zw
331? 36% 36%? 1% 36% 36%
United Retail Stores.
U S Rubber . 11600 112
U S Rub 1st pf. 100 113
U S Smelt & Ref
U S Steel .
U S Steel pf. 400 113
Utah Copper .
Vanadium Steel ....
Va-Carolina Chem . .
Va-Car Chem pf. .. .
Wobash .
Wabash pf A.
Wells Fargo Express
West Maryland _
We?t Pacific .
West Pacific pf_. 300
Westinghouse Mfg .. 8100
Wilson Co . 400
Wheeling & L E_ 300
White Motors . 18900 68/
Willys Overland _ 4600
65%
9334
777/8
113
900
4600
400 74 74
300 111% 112
600 V 93-3 9
200 28
200 63
10?/
31
es1
100
3900
28/
63/
10/
32%
66
73/
111% 112 +
9% 9%
27% 27%?
63 63% +
10% 10/2?
31 31 +
65 65+1
-4
9 9%
27% 27%
58% 63
95% 67 6
*Ex dividend.
10?%
31
64
54% 54% 53% 53%- 34 53?/
73% 73% 73 73%+ % 73
11% 11% 11% 11%+ y 11%
69% 66% 67%? % 67
Woolworth ...." ?50 iSK ??? ?o7Z ?i3A- 24% 24^
Worth Pump &M.: K % T* ^ ? + g? ?
10%
33
66
53%
75
11 %
67%
Yester?
day.
Pesetas, cables . 17.40
Greece, checks . 10.75
Greece, cables . 10.80
Manila, checks . 48.75
Manila, cables . 49.00
India, rupees, checks.. 4(3.50
India, rupees, cables... 46.75
Japan, yen, checks.4(3.50
Japan, yen, cables. 4G.75
Argentina, checks.102.40
Argentina, cables.101.90
Brazil, Rio, checks. 27.75
Brazil, Rio, cables. 28.10
Marks, checks . 1.31
Marks, cables . 1.32
Czecho-Slovakia, checks 1.34
Week
17.35
10.70
10.80
48.75
49.00
45.00
45.25
46.00
46.25
102.90
102.40
27.75
28.00
1.23
1.24
1.32
Bid and Asked
Blil. Asked. 111,1 AnlnxH
Alb & Sus...- 160 [Col Grapn p. 93 3,
Al ( lia!m_ pr SS'/s 85'?|l'o!i Clgiu-s pr S1V4 v'
ho com ins Co.. 75 t,?
Hb Corn J'n-,. p.-.105V4 107
Am Afi (.'lieau S:
?lu pr . pij
Am Buk Xote ?!?
)ir
41
11
Long Island Railroad
February gross...? 1,318,636 Dec. 583.934
\ Vet. after, taxas. 047,64', Inc. 622,095
Net opcr. deficit, 712,166 Inc. 664.411
Two nin.-i. gross. 2,975,268 Inc. 73,055
Def. after taxes 874,290 Inc. 637,395
Net o per. deficit. ;>?I4,S.'3 lne. 620,5CS
Pittsburgh & Lake Eric
February gross.. $3,253,376 Inc. ?ST8.334
after taxes.
N( 1 oper. inenme
Two inns, gross.
Hal. after taxes.
Net oper. income
310,123
419,775
6,037,617
602,267
792,829
la
Ire.
Inc.
1 iec.
Dec.
:ir?.
5C.807
869,735
508.905
269,305
Southern Railway
A JJoet is pr
A B S & l'y 90
do pr .210
Am l'an j.r.. '.?7
A O ?V I? pr. 111
Am Cm Oil. 47 47V?
?to pr . si ss"
Am In. Seo pr ?.?.'I 66
A Uiiseod pr ?L?
Am J..U-IJ pr.U'."i 1",;
Am Shlpbldg. ? 125
Am Smelt pr. Sl'i :?.',>
<l?> pr A_ 82 v;
Am Sauir ...105 111
?In pr . 80 Pi)
A St Fy pr. 91M 92
Am ?-tugar pr.lii 11 ?a
Am Tel & C. Mi .-i5
Am Tobacco..260 270
Ann Arbor .. liu 12
e:o pr . 24V4 2.r,
Assets HI Co. 4
-*? 1) C, ist pr 65
do 2d pr. .. 63 70
Asso OK ...11?, 11!)
At lllr ?t A. 7 8
At ('.'.ist L. . f?s 90
All & \V I pr 65*<4 117
Auto Sales pr 20 29
P.ald Jjoco pr.100 102
Har Leather pr 8S '.?5
Barrett Cu pr.l?o
Batopilas M.. 1
Be: h Steel .. Si?
th pr
Cro?? Carpet . 00
' ul ? Am Se.i:io 4;,o
?l?J pr .li)2 107
Deero Co pr. 99% lui
l> U *c W. ..185 190
OSHpianjond M...II.-, i,;u
D S S ??v- A. 4H "'i
do pr . 7 U)
Durham l?os .*,27? 57*A
do pr ... .100% loi
Glkhorn H pr. 37 44
Km r.r
?1" pr . 82
Bfle ??c Pitts, 55
Pislier ny pr.io:;
Oeti Chem. ...185
do pr . ill.
Gen Cigar pr.100
do pr deb S7*?4
OM Su, No.. SH
' pr
JOS
190V4
'."j
102
92 W
10
,0 M ?S 1st pr 90 hi 97
41 Hartman Corp S8H :'0,?
* - Horn make .. 55 58
February gross. .$11,479,475 Inc. $1,971,771
J.'a!. after taxes. 881.884 Inc. 611,783
Net oper. income 5,'ir,.l45 Inc. S16.134
?Two mos. gross. 25.520. J 51 Inc. 6.891.01S
Bal. after- taxes. 3.869,823 Inc. 2.573.241
Not oper. Income ?.047.S49 Inc. 2.018.011
Chicago, Burlington & Quincy
February gross. .$13,216.614 Tno.$2,7:i7.2?8
Bal. after taxes. 1,660,654 D^c. 237,096
Vet oper. Income 1,137,716 Dec. 559,505
Two nuts. {$mss. 2.>,7S?,9C2 Inc. 7,660,536
Bal. ?after taxes. 6,684,882 Inc. 2,965,165
Net oper. income 6,041,763 Inc. 2.5'j5,S7t?
Pennsylvania Western Lines
February gross.. $7,699,667 Inc. $923,809
Def, after luxes. 1.683,319 Inc. 1,092.028
Not oper. deficit 1.630,090 Inc. 1,062,671
Two mos. gross. 17.206,559 Inc. 2,957,914
Def. after taxes. 931,496 Dea 177,962
Net oper. deficit. 930,905 Deo. 323,331
do 8th pr. .111% 112%
Blui Edison..; i)"i 97
Bkn Cn C,ns. 5U 60
Brown. Shoo.. 95 101
Burns BtS pr.100 HO
Butterlek *... IK*; 21
Can Southern. 41 50
Caso J I pr.. !>C 98
?Cent J?oa pr.102*-; 105
Cell of N .T.. 191 205
C & S A T.-allO 114
Cortahitecd .
Chi .t Altoi
do pr ....
C & K 111.
do pr . s
CSP M & 0 (in
do pr
Int l'ai
do pr atpd.. 7?i
Iowa Cental 1. 5
Ivayser J ...100
ilo 1st pr. ..1U7
K City So p-. 4ti
Kelsey Wheel". ;4
02 ; do pr . 93
'.?3 Keok ?v 1) M. 4
08 do pr . no
Hi ?Kress & Co.
93 I do pr ....
Lake E & \V
pr
06
6
SO
83% ?
98?4 ?
10?i 12
16% 22%
Bid. A.s*.ei!
N'orf & So.. 22 23
Norf & XV pr. OS :;
Niag Fl' pr. ?
Otto Eler pr. ?
oils Steel pr. ?
Owctts Bot M. 03
lern
101
101
;l'i
do pr
Pacifie Coast.
do 1st pr..
Pacido M.ill.
PettI Mull?... 36
do 1st pr. .. !i7
Plerea Ar pr. 98
Plt?s St'-el pr f-'H
P S C N J.. 63
101
40
115
103
Bid. A.?
?Type pruno
, "O 2d pr... 96
\ ? a "'i, :::J"sa.i '
'':,t ???? Ariz 11 %
l'iilewaier 011.215 2
J ???m City it T 31
I ll" P' . --
Un Cigar ?St. .110 i
i ?lo pr .135 1
Un Ry In pr 23
"' S r Al pr. 97 1
Woolworth pr.lii 1
WP & M pr A S9
1' do pr B_ 7C>4
iked
9?.
98%
Dividends
Stock
Banks Oil Compun.r?A ?tock dividend of
6 per cent has been declared. In addition to
the regular quarterly dh-ideml of 6 per
cent, both payable' April 15 to stockholders
of record March 31.
Regular Declarations
Holdf
Period. P'ble. of R
Q May 15
Q
L-W Biscuit.
do 1st pr..
?lo 2d pr...lll 127
Lorillard pr.,10? 112
Louisv & .V.103 117
Mackay Cos. ..64 70
Mardi? P.pach % 2%
Manhat Kl_ 47 53
Manhat Shirt. 80% 31%
- Rockwell. 58 coy.
98%
54%|.Martin Parry. Lt?
9% Mat Al W... 23 29
17 MSP4 S ?S M 72 77
10 do pr _i. .. 90 ?jil
lo i do !.,d lilr-s. ,-,i os
66 Morris & K?. ? 69
07% MuUiiM .By pr 97
C O C 4 .3 L 49% 5S%i.Vash ?fe Chat. 10.*. 113
do pr . G5 tw^jNat Aemo ... 37 .33
Cl & Pitts...-- SO Nat Biscuit. ..115% 118
Cluett Po\b.. 91 !?4*4aN"YC&SL 1st. 57 ?0
tli? pr .10? ios ! do 2d pr... 46 50
Coj & So.... 24 25%?N Y Dock ... 40 -58
do lrt pr... Bl 53 do pr . 83% **54
do !d pr... 40 4J IS T i * W?. 8S 90
Rate.
Am Radiator. . .$1. 00
do pf. 1*;
Millil'in Bros- 3.00
Pa On L & p pf .so
Rad turn Mat pf 1%
Fist Na Bit Bkln 2%
May 16
Apr 10
Apr I
Apr t
Apr 1
Mav
M ay
Mar
Mar
Mar
Mar
Baltimore & Ohio
February gross. . $13,989,717
Def. after taxes. 2,047,701
Net oper. deficit 2.290,205
Two mos. gross. 31,333,385
Def. after taxes. 1,068,531
Net oper. d?flcit 1,290,415
Inc.$2,760,731
Dec. 323.519
Deo. 217,783
Inc. 6,772,232
Dec. 2.890,062
Dec. 2,924,387
?Chesapeake & Ohio
February gross. .
Bul. after taxes.
Net op.r. income
Two mos. gross.
Bal. ufter taxes.
Net oper. Income
$6,236,381
700,397
868.037
12.050.892
1,004.80'.!
1, '?'20,636
Inc.$1,440,332
Inc. 544.405
834,898
1,828.773
527,363
1,084,651
In
Mar.
Apr.
Apr.
Apr.
Apr.
Apr.
Mar.
Mar.
Apia
?Mar.
Apr.
?Mar.
Apr.
Mar.
Mar.
Alar.
Apr.
Apr.
Apr.
Mar.
Apr.
Apr.
Apr.
Mar.
Mar.
-Mar.
Mar.
Mar.
Apr.
Apr.
Mar.
Mar.
Mar.
Mar.
.Mar.
Mar.
I Mar.
? Apr.
Apr.
? Mar.
Apr.
Mar.
Apr.
I Apr.
Apr.
I Apr.
, Apr.
I Apr.
| Apr,
Apr
Stocks Ex Dividend
31 Allls-Chambers Mfg pf.
10 American Beet Sugar...!.!]!
9 American Ico ........
9 do pf. .;;
1 Amer ?Steel Fdrs temp......
3 Associated Dry Goods .
31 Central Coal & Coke .
31 ?o pf .
9 Central Leather .
30 C, C, G dt St I, Ry pf.
1 Consolidated Cigar Temp ....
SI Detroit Edison .
1 Domes Minos, Ltd.!
31 J-'ifth Avenue Bank of N Y.'
31 First National Bank .1
31 General Chem. ex In com stk.2
;> General Motors pf.
5 do 6 per cent deb.! !
5 do 7 per cent deb temp....
31 Gold ?fe ?Stock Tel.
10 Harbison-Walker Refrac pf
10 Ingersoll-Rand .' . .
9 Inspiration Cons Copper..
31 Int A?? Corp pf.
31 .Iones Bros. Tea.
31 Kansas City So Ry pf.!!'
31 Monongahela Val Trac pf...!
31 National Biscuit . . .
8 National Cloak & Suit.!!!"'
1 N Y Cen R R .
31 Niagara Falls Power pf
31 Nova Sco Stl & Coal. Ltd
31 Ohio Fuel Supply ,
31 Otis Elevator . . " "
31 do pf .'..'..'.
31 Pacific Gas & Electrlo .
31 do pf .
9 Pittsburgh Coal '?f'pe?r?!
9 do pf.
31 Second National Bank. .8 '
2 T.* S Food Products
H V, *? Industrial Alcohol pf ! ! ! !
5 V S Smelt, Ref & Mlnlntr_
5 do pf .
5 Virginia-Carolina' 'chem' 'pf! !
* \anadium Corp of Amer temp
1 v, estlnghouse Air Brake .
2 "Westinghouse El & Mfir
2 do 1st pf ...#.. ,
5 WorJ-h Pump & Mch VT ctfs!
ord
& 3
Buffalo, Rochester & Pitts.
February gross. .
Def. after taxes.
Net oper. deficit.
Two mos. gross.
Def. after taxes.
Net oper. deficit.
4
$1,223,042
193,948
20,165
2.545,746
311,898
6,054
Inc,
Tnc.
Dec.
Inc.
Inc.
Dec.
$155,140
100,983
33,426
77,870
148,833
117,227
PiUs., Cin., Chi. & St. L.
February gross.. $7,410,094 Inc. $767 5
Def. after taxes. 1,753,077 Inc. 1,641,
Net oper. deficit. 1,857.694 Inc. 1,676,4
Ttvo mo?, gross. 17,990,606 Inc. 370.8
Def. after taxes. 164,869 Ino. 70,
Net oper. deficit 541.669 Inc. 303,
In Wall Street
New Sinclair Financln* Expected
Report? were carrent In Investment
circles yesterday that the Sinclair
Consolidated Oil Corporation is
planning to do some new financ?
ing to carry out a program, in?
volving an ' increase in its tank
ship tonnage capacity. It is be?
lieved that the expected financing will
take the form of a note issue con?
vertible into stock at a price several
points above the current market quo?
tations. The company, it is under?
stood, is in need of more tankers to
carry oil out of Mexico. The corpora?
tion is now producing and selling
Mexican crude at the rate of approxi?
mately 65,000 barrels a dav, com?
pared with the total movement of
about 245,000 barrels daily. The
Standard Oil Company, of New Jersey,
is buying daily from the Sinclair in?
terests 36,000 barrels of light Mexican
crude, or at an annual rate of more
than 13,000,000 barrels. The first of
the additional tank ships of the Sin?
clair company now building will ne
delivered in April. Others are under
construction, and by the end of 1920
the company will have twenty ships
operating between Mexico and other
points. With the increased business
in prospect it is estimated the com?
pany could easily use twenty more.
New financing at this time would en?
able the company to immediately pro
j ceed with the construction of addi?
tional tankers.
Prosperity and the Railroads
John Muir, in discussing the gen?
eral railroad situation yesterday, de?
clared that there is a hundred times
greater need for an era of swift rail?
road building now than in the joyous
days of contractors' subsidies. "Then"
he said, "it was for the individual,
now it is for the people. This coun?
try, rich in resources for which the
whole world now calls, needs an im?
mediate building up and extension of
its transportation system. The neces?
sities and raw supplies of our coun?
try are scattered far and wide and
we cannot now brins them promptly
to places of manufacture or con?
sumption. Does not prompt and i
speedy transportation affect the price |
and maintain the ability to compete i
with and meet the demands of the |
people all over the world? As the
railroads run, so runs the prosperity J
of the country."
Stntz Motors
Stutz Motors added another chapter to
? its stock market history when it leaped
? yesterday to 337, setting a new high
I record. And the striking thing about
the frexh spurt in this rapid performer
was that it occurred in a market that
i was extremely irregular, with the
' trading element worried over the rise
! in call money rates to 12 per cent. Stutz
? displayed early weakness, but soon re
I covered from, its sinking spell. It
| sold as low a? 300 before the new high
i was made. When most other' stocks
? were showing substantial net losses
Stutz actually registered a net gain of
! 11 points. The turn-over in the stock
| was only slightly more than 3,000
' shares. The fact that some 80 per cent
| of the outstanding stock of the com- :
i pany is held by one interest has led
; many stock market followers to steer ;
clear of Stutz as a speculative medium.
Professional bears particularly qre said
to be wary about getting overextended
' on the short side.
Columbia Gas
The move in Columbia Gas and Elec
; trie yesterday was quite widely tipped
i as being the forerunner of a still fur
i ther advance. It was reported in the
! gossip of the Street that a strong
pool has been formed to handle
! the market in the stock. It was
; one of the strongest spots in the
market, getting up to 64%, closing
: about at the top. The rumor in con
' nection with the strength of this' issue '
j had it that a large block of stock ,
1 which had been overhanging the mar- j
j ket has been taken over by private sale.
! The company issued its report for 1919 ,
| last week, showing $6.51 a share earned
! on the $50,000,000 capital stock, com
i pared with $6.39 in 1918.
Anaconda Copper
The Anaconda Copper Mining Com?
pany, it was reported yesterday, has
, cleared up its differences with the gov
, ernment over Federal war taxes. The
| Inspiration Consolidated Copper Com
j pany's tax schedules were approved
; some time ago. It was claimed by
? government officials that a number of
; tho large mining companies, including
, Anaconda, Inspiration, Kennecott,
i Utah, Ray, Chino and Nevada, bad not
| paid enough in war taxes covering the
; war years' period ?o 1919. In the case
; of Anaconda and Inspiration it was
J held that these companies charged off
j too much _or depreciation and deple
? tion, and therefore owed the govern
\ ment approximately $4,500,000 each.
It is understood tijjat the decision of
the Department ot Internal Revenue
has been in the case, of these two com?
panies that their charges for depreci?
ation and depletion were proper. The
| matter of the war taxes of the other
i companies has not yet been fettled.
Norway Seeking Funds Here
Norway is planning to raise funds
i in this country through the sale of
I bonds to Norwegians resident in the
i United States. According to the pro
? gram, the selling campaign will be
j confined to Norwegians and the ad?
vertising will be done exclue vely in
| the Norwegian press. Unlike the Ital
; ian plan, which is now being put to
i the test, the Norwegian bonds will be
j internal instead of dollars bonds.
Reserve Bank Gets Gold
The Federal Reserve Bank vesterday:
purchased from J. P. Morgan & Co. !
?$9,000,000 of gold (approximately,
1500,000 ounces) which was consigned
? to the firm by the British Treasury.;
j The gold arrived on the Lapland Sunday
. morning, and was taken to the United
; States Assay Office. The gold became
credited to the Reserve Bank as of the
I close of business yesterday, and was
physically delivered late in the after
1 noon. It is understood that the gold
i was in anticipation of the Anglo-French
: maturity, which becomes due on Octo
j ber 15. Another shipment of Bimilar
; amount is on the water. Any effect
, that the gold will have on the money
market will not be shown until to-day.
j Federal Smelting'* Net Falls
As a result of operations in the
year ended December 31, 1919, the
Federal Mining and SmeltingConipany
returned a balance after taxes, charges
and other expenses, cf $718,149, which
. compares with $1,?24,293 in the pre?
ceding year.
Total receipts last year were $2,
474,864, from which operating ex
; penses of $1,417,356 were deducted,
leaving net earnings available for
taxes of $1,057,508. Tax payments
absorbed $52,518 of that amount and
: charges $286,841. After stockhold
! ers had received $449,478 in dividend
? disbursements, surplus was $268,671,
j against $285,440 in the year before.
_
! Columbia Bank Buys
Control of Tradesmen's
The Columbia Bank yesterday an
; nounced that it had purchased control
? of the Tradesmen's Bank, formerly
j the Wcstchester Avenue Bank, which
; was bought a year ago by McClure,
j Jones & Reed, 115 Broadway. Its rc
i sources and deposits, which have
ifA-V" *year'now amouut to
Correspondence
Invited
We invite correspondence
on Stock Market commit,
ments and all investment
subjects. Frequent analyti?
cal reports issued and
mailed gratis.
E. W. Wagner & Ce,
-f-ta.K.A.4 188T. CM**??
! y. T. Stock S^h?nm
Members -j N. T. Cotton ????lu
[ Chicago Jlear? of Tro?,
33 New Street (%?) New Tert
_ . J Mad Ave. S iZd 8t
Branches *J ,BS w>sf ir>li g" OI*
Y
OUR account is j
not too small to j
interest us, or too I
large to overtax the j
? facilities of our or- \
r ganization. We aim j
i to give quick execu- j
? tions and prompt re- <
J ports combined with j
? personal attention to ?
E individual needs. <
r <
| CAR^TAI^S <_r CO. !
Jferrtoerj
yew York Btock Exchange
,Y?i* York Cotton Exchange
Philadelphia Stock Exchange
71 Broadway
New York
1419 Walnut St., Phlla.
Odd Lots
Our service meets the needs
of those interested in odd
lots, whether for cash, on
margin or partial pay?
ment.
Hartshorne,
Fales & Co.
Members N. Y. Stock Exchange
71 Broadway
Telephone 7610 Bowling Oree?.
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
MILLER & CO.
Members
Now York Stock Exchange
The
1920 Edition
Trader's Companion
may now be obtained
at our main office
EQUITABLE BUILDING
120 Broadway .
or at our branch ofHc.a
.is fifth: AYENCB
8. W. Cor. ?6th Street
?-ONGACRK BCILDINO
N. B3. Cor. 4 2nd St. & Broadwar
NEW YORK
Maine Central Railroad
February gross.. $1,034.381 Dec. ?-?*?*;*
Def. after taxes. 668,S03 Inc. 49S*i?,
Vet oper. deficit. 663.08T Inc. <S3.J'i
Two mos. gross. ?,628,72? Dec. 89*?,i
Def. after taxes. 6*6.184 loe? 34l.*<?
Net oper. deficit T0?.7T8 Inc. ?M.*?'

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New-York tribune. [volume], March 30, 1920, Page 18, Image 18
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924