New-York tribune. [volume], July 14, 1920, Page 14, Image 14

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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Grace Steamship Co.
6% Marine Equipment
1st Mtge. Serial Gold Bond?
Strongly secured. The stock
of this company, excepting
only directors' shares, .is
owned by W. R. Grace &
Co., present net worth over
.$50,000,000, which agrees to
pay sufficient charter hire to
meet issue requirements.
Due 1?'20 to 1034
W Prices to ueW6V8% to 6V2%
Circular on request for AK-272
TheNationalGty
Company
Main OHIixj: HUtUi.il City Bunk Bulldtni
U?tiwn omc?: Fin? Ave. & 43rd 8t.
Correspondent Offices in over 60 Cities
cochrane
Harper
? Co.
Ill Broadway 60 State St.
NEW YORK BOSTON
Invincible
Oil Corporation
Up-to-date Analysis of Com?
pany's Position and Prospects
on Request.
WEEKLY LETTER
Grrln* current news an?! deivo'.npmcnt of
INDEPENDENT
&
STANDARD OILS
r'urnUhi'd upon request.
SARTORIOS
SMITH &
LOEWI
.Members
New York. Stock Hxchange
20 Broad St., New York
Phone Rector 2480
BRANCH OFFICES
500 Fifth Ave. 63 West 125th St
141 Broadway, Brooklyn.
We Offer
Subject to Prior Sale
$100,000
Victory Loan
of Canada
5 year 5]/2% Gold Bonds
Due Nov. 1. 1924
Price upon application.
Hirsch,
Lilienthal
&Co.
Members
New York Stook Exchange
New Tork Oiton Kxohange '
61 Broadway New York
Branches
S K. 44th St. un,I 1123 ?roadway
MERGED WITH
THE PEOPLE
\ N outstanding feature of the
"?*? electric and gas companies
under Byllesby management is
tlfc targe number ot home share?
holder? in all walks of life, each
with a voice and a vote.
Ask for circular \i"/'
H. M. Byllesby & Co.,
Inciiriiormril
Investment Securities
111 Broadway ?OS S. L,a Salle St.
NBW TORK CH1CAQO
It Wey bcaset at. SO ?t?te Ht
PROViDBNCK boston
Dtrwrt frttnt? Wire New York?Chica*
Bonds for Investment
Harris, Forbes & Co
Mm ?Street, Corner William
NfcW YORK
In Wall Street
The financial community felt much
more cheerful last week. Probably
the improvement in stock prices in
itself was an important contribut?
ing factor, but at the same time the
feeling was abroad that things had
? definitely taken a turn for the better,
i and the .news in some respects bore
< this out. What pleased the Street
perhaps as much as any other de
! velopment was the indication that
Washington is beginning to get down
i to work. Prospect of immediate
' constructive legislation as regards
i the railroads was a helpful influence
of great importance. The extent to
which it changed the attitude of in?
vestors during the latter part of the
week was to be seen in the improve?
ment in railroad stocks. Large In
: vestment houses which have been
complaining for a fortnight that it
was extremely difficult to sell rail?
road stocks without breaking prices
sharply, owing to the lack of demand
for such issues, suddenly found on
; Friday that all such offerings were
being well taken?in fact, so well
taken that prices moved up on all
sides. The buying of a number of
the high grade railroad stocks came
from exceedingly strong quarters.
This week ought to afford a pretty
good test of the stock market. The
improvement which took place last ?
week was general and quite substan?
tial, reaching more than two points
in the industrial average and almost
as much in the railroad average.
The gains were chiefly the result of J
the oversold condition of the market. |
j Nevertheless, the advance was sol
well sustained that some outside in?
terest was beginning to be attracted j
toward the end, and if those who j
have been dominating the market ?
are able or willing to carry the j
movement further dealings might:
broaden considerably. But it is to be I
doubted whether any real attempt to
do much more on the constructive j
side will be made before the first of [
the year, for it is to be expected that
money rates 'will harden again
toward the end of the month. Janu-1
ary 1 corporation disbursements will j
aggregate in the neighborhood of j
3500,000,000. The banking position
is none too strong at the moment, as ;
i was indicated by the statement of [
| the Clearing House members Satur- !
day, which showed that reserves ]
were nearly $30,000,000 below legal
requirements. While that condition I
is only temporary, it is altogether ?
unlikely that the banks will be able
to increase their 'oans in the face of
' the large demands impending. After
the shifting of funds incident to Jan- ;
j uary 1 disbursements has been com-,
' pleted it is to be expected that money
i will be much easier, although few
; traders venture to hope that the j
supply of funds will be large enough ;
to encourage a renewal of specula
; tion on a large scale. The general !
J expectation of those who are optimis- j
; tically inclined is that a slow im- i
; provenient, extending over several
months, will take place, and that ;
gradually the money situation will
: be straightened out ?so as to permit a ?
free market some time in th? spring.
Meanwhile, passage of favorable ?
railroad legislation may put life into >
. the railroad section of the East.
_
To look upon the decision of the
Treasury to defer collection of in
' terest on its war advances to the Al
? lies as a result of the demoralization
of the foreign exchanges is to take a
superficial view. The exchange rates
! are the effect of a condition, not the
cause. In their fluctuations they!
merely measure the state of world j
finance and trade. The underlying !
reasons for the action are the abnor?
mality of trade balances and the cur?
tailed ability of the Europeans to
! pay out huge sums in acceptable cur
; rency until their industries begin to
produce more abundantly. In per?
mitting a delay in the interest pay
\ ment the Treasury is jn effect ex?
tending $475,000,000 a year in credit
; to the Allies as long as the arrange
; ments last. The operation will place
i an additional burden on the Ameri
j can taxpayer, but that will be his
contribution to the clearing up of
\ the European credit muddle. Pri
! vate investors have been hesitating
; to act until the government shows '
| its own faith in the future of Eu
rope by lending additional credit, j
Perhaps the. publication of the letter
of Secretary tilass to Representative
[ Fordney, coming just after the Edge i
bill had been sent to the President
? for his signature, may indicate an i
approach to the arrangement of the |
credit Europe needs to wax strong
again.
The temporary abatement of in-i
j terest charges, which bankers as
, sume would be allowed, contributes
a degree of strength to the European
exchanges. Although it was antici?
pated, the Allied exchange, led by
sterling, rose sharply on Saturday,
completing a week of recovery after
I the smash to new low record during j
j the previous week.
j France May Increase Rail Rate?
PARIS, Dec. 21.?According to the
: "Eclair," the Minister of Finance to?
ri day introduced a bill in the Chamber
of Deputies calling for an increase in
railway tariffs for passengers nnd mer?
chandise. Under the bill the increase
would be 70 per cent for second and
? third class passengers and 100 per cent
j for first class, while that on merchan
I dise would he 100 ner c*nt.
Transactions Last Wjeek in Listed Stocks
Record of Stock and Bond Average?
(Copyright, 1?1?, I*ew Torlc Tribune Ine.)
Stocks
Ranee Jut. 1 Rente full
Lest week. Teer ere. te date 1919. rear 1918.
Ht?h. Lew. Hlfh. Lew. Hl?h. Lew High. Lew.
20 Railroad?. 66.70 63.75 73.86 72.00 78.30 63.38 79.16 66.12
30 Industr?ale. 104.93 102.37 84.37 88.90 119.33 79.20 88.83 73.87
60 Stocka . 89.08 86.92 80.16 78.64 99.64 75.92 84.08 70.30
_ Bonds
10 Railroad? . 73.65 72.83 84.62 83.43 82.80 72.83 86.57 76.62
10 Industrial?. 90.86 90.68 94.07 93.95 95.70 90.68 94.08 67.40
5 Utilities . 74.27 73.66 88.70 88.30 87.76 71.80 89.02 82.60
25 Bond?. 80.48 80.21 89.16 ,88.62 87.91 80.21 89.46 83.62
Hish Low Drr. Net
1919. Date. 1919. Date. In 8. Sale*. Hlrh. Lew. C?ese. ehs?.
64 Mar 23 29% Apr 26 ? Adams Kxp . 700 81 80 80%+ %
54 Jnlr 7 21 Jan 21 ? Advance Rumely_ 3200 43 41% 42%+ %
76 June 9 56% Jan 20 8 do pr. 300 71% *T0ya ?71J-4? 1
113 July 18 66 Jan 13 6 AJax Robber . 200 83(4 83 83 -
, 4% Jan 15 1% Dec 19? Alaska Geld Mines.. 13700 2% 1% 1tt? %
3% July 14 1% Jan 2 ? Alaska Janean .... 3200 2% 2 2 -
61% Oct 8 30 Jan 21? Allia Chalmers. 9200 47% 48 46 ~- %
96% Jone 2 81% j8n 21 7 do pr. 400 94 83% 94 -?
11334 May 1 87 8ept 2 8 Amor A*rll Chem. . . 4800 94 91 94+3
103 Mar 15 95 Sept 19 6 do pr. 300 87 96 97 + %
55 July 15 33 Jon 25 3 Amer Bank Note... 200 47 47 47+1
10134 Oct 21 62 Jan 3 8 Amer Beet Susar... 3700 96 92 95'/?+ 2%
143% Not 8 84'/, May 7 8 Amer Bosch Masnete 1700?124%?180 ?123%+ 41/?
68% Sept 30 42% Feb 11? Amer Can . 38700 65% 63 64%+ 1%
107% June 16 98 Dec 16 7 do pr. 2400 100 ?98 *99%+ 2%
148% Nor 6 84% Feb 1112 Amer Car * Fdy.... 18700?139%?134'/4*139 + 4%
119 July 11 113 Jan 3 7 do pr. 600 115%?113%?114%+ V*
67% July 18 39% Jan 2 4 Amer Cotton OU... 4400 48 46% 48 + %
14% Mar 7 10% Not 19 .80 Aroer Drus 8m... 11300 12% 11% 11%+ %
y>3 May 26 76% Sept 23 6 Amer Expresa . 200 85% 86% 85%? 4%
43% July 31 13% Jan 4 ? Amer Hide * Leath 18700 26% 22% 24%? 2%
142% Oct 22 71% Jan 2 7 do pr. 1700 117 112% 117 + %
76% June 6 37% Aur 22 ? Amer Ice . 2300 48 46 47%+ 3%
76% June 6 64% Jan 20 6 do pr. 400 68 67 68+3
132% Oct 24 52% Feb 8 6 Amer Inter Corp... 39100 111 104%?110%+ 6%
69 Not 7 44% Mar 1 3 Amer Linseed . 1800 69% 68 ' 68%
98% Apr 15 85 Mar 1 7 do pr. 100 92% 92% 92%? %
117% Oct 7 68 Jan 24 6 Amer Locomotive... 29700 96 90% 95%+ 37,
109% July 2 100 Mar 14 6 do pr. 200 104 103% 104- 2
63 Au* 15 46% Dec 19 ? Amer Malt A Grata 400 47 45% 46%? 2!/?
47% Oct 22 26% Dee 2? Amer Ship ft Com. .244Q0O 29% 27% 28%+ ?/,
89?4 July 18 61% Dec 1 4 Amer Smeltln? _23400 69% 64?% 68%+ 3
109% July 17 96% Dec 17 7 do pr. 1800 96% 95% 96 -
94% June 12 79% Dec 19 6 do pr A. 700 80 79% 80 ? >/?
140 Sept 18 101% Dec 17 8 Amer Snuff ...*.... 1100 105% 101% 105 + V/?
99 Jan 16 80 Dec t 6 do pr. 200 85 85 85+4
47 July 7 34% May 13 3 Amer Steel Fdy-20100 46% 43% 45 + 1ft
96% Aus 14 91% Dec 19 7 do pr. 300 92 91% 91%? ft
148% Oct 29 111% Jan 21 7 Amer Surer. 7600 139 134% 136%+ '/
119 May 24 113% Jan 6 7 do pr. 900 ,117% 117% 117%? <Ji
120% June 12 73 Aus 21 10 Am Suma Tobacco... 11200 98% 93% 95%? U/,
100 May 12 92% Dec 16 7 do pr. 100 92% 92% 92%? 1'/
63 May 22 65 Dec 1 6 Am Tel * Cable.... 800 51 60 50?6
108% Mar10 963/4 Aus 14 8 Am Tel & Tel.[phone]% ?98% ?98%? 1*
314% Oct 24 191% Feb 6 20 Am Tobacco . 600 274% 260 274%+ '/
106 Jan 6 94% Dec 19 6 do pr new. 500 96 94% 84%? 3|/
68% Dec 20 65% Dec 18 7 Am Tob Seo Corp... 27000 68% 66% 68%+ ZV
149% Oct 20 45% Jan 17 7 Am Woolen . 20400 129 122% 127%+ V/
110% June 6 94% Feb 8 7 dopr. 1100 103%*101%*101%+ ?/
6? Oct 1 27% Jan 2? Am Writ Paper pr.. 3100 56% 64% 64%? 1'/
29 July 14 11 Jan 31? Am Zinc & Lead- 7000 17% 16% 16%+ '/
66% Aue 1 40 Jan 21 6 do pr. 800 54% 62 64%? '/
77% July 18 64% Nov 29 4 Anaconda . 42400 58% 55% 68%+ ?/
9% Nov 17 1 Jan 2 ? Assets Realization Co 2600 7 6 6%? \>
?5% Oct 11 17% Jan 6 ? Asso Dry Goods. 7200 62 58% 60 ? 2J,
82' Auff 16 61 Mar 19 6 do 1st pr. 600 74 71% 72 + 2'/
8734 Auff 8 68% Feb 8 7 do 2d pr. 600 74% 71 74%? '/
142 Nov 7 68 Jan 2 6 Associated Oil . 300 119 118 119 + 4
104 May 27 80% Dec 12 6 At Top & San Fe... 30400 84% 81% 84 + 1'/
89 Jan 4 767/8 Dec 19 6 dopr. 9100 78% 76% 78%+ ?
15% July 24 6 Mar 31 ? Atlantic Birm ft Atl. 4900 9 7 7 ? 1?
107 May 29 90% Dec 1 7 Atlantic Coast Line. 3300 94 90% 92 + ?
192% Oct 31 92 Feb 8 10 Atl Gutf ft W I S 8. 7200 173% 165% 173%+ 63/
/6% May 8 64 Jan 29 5 do pr. 400 75 74 75+2
20% Dec. 12 14% Sov 19 - Auto Sales Corp. 15700 20% 19% 19%+ \\
35% Dec 3 29 Oct 25 3 do pr. 600 *34% *33 ?33 ?? 1
156% Oct 22 64% -'?n 29 3% Baldwin Locomotive. 162800 111% 102 110%+ 6
111% June 10 1011/2 Dec 19 7 do pr. 600 102 101% 101%? V
65% Mav 27 28% Dec 15 ? Baltimore A Ohio... 48600 323/4 28% 32%+ 2'/
69% May 27 38% Dec 15 4 do pr. 16700 48% 38% 47%+ 6'/
95 Nov 10 91 Oct 23 7 Barnet Leather pr... 100 94 94 94 ? 1
146 July 7 103 Jan 2 8 Barrett Company ... 5100 125%?121 ?121%+ 2\
2% May 12 1% Jan 20-- Batopilas Minins.?.. 1600 1% 1% 1%
1 Dec 12 V4 Dec 18 ? do rieht?. 5700 % % %? \
10734 July 15 65% Jan 20 6 Bethlehem Steel- 2300 ?91% *89% ?91% + 33
112 Oct 23 55% Jan 21 5 do Class B. 82200 96% *89% ?95%+ 3'
108 July 25 90 Dec 19 7 do 7th pr. 600 96% 90 90?8^
116 Sept 30 101% Jsn 22 8 do 8th pr. 1500*111 ?110 ?111 + '.
102 Aue 2 85% Dec 18 8 Brooklyn Edison- 200 85% 85% 85%? 1'.
33% July 25 13% Dec 18 ? Brooklyn Rap Tran. 11400 14% 13% 13%? =
28% July 23 9 Dec 12? do certificates- 6300 11 9% 10%+ '
9234 June 3 41 Dec 18? Bklyn Union Gas.. 9400 50 41 60 -?
25 July 25 11 Dec 1? Booth Fisheries. 5800 133,4 12 13' + !
101 May 14 97 Aus 18 7 Brown Shoo pr. 100 100 100 100 + !
15% Aus 11 6% Dec 1 ? Brunswick . 1000 7% 7% 7%? \
60 July 14 60 Dec 18 4 Buff, Roch & Pitts.. 200 60 50 60?8
166 Apr 23 117 Nov 13 10 Burns Bros . 2000 119% 118 119%? !
111% Oct 17 107 July 22 6 do pr. 100 110 110 110 -
17 Oct 6 6% Feb 20 % Butte Cop ft Zinc... 6600 9% 8% 9 + !
37% July 11 16% Feb 15? Butte & Sup Cop. . . 9800 27% 2<Ha 26 ?
39% July 30 16 Jan 28? Butterick . 2500 28% 24% 28+6
54% May 27 19% Dec 13? CaddoOil . 8900 21% 20% 21 +1
84% Oct 31 48% Jan 2 4 Calif Packins . 4400 80 75 80 + 4'
56% Oct 20 20% Jan 2? Calif Petroleum. 7600 44% 41% 44 4
86% Sept 16 ?64% Jan 2 7 do pr. 300 75% ?733/4 ?73%?
8634 July 24 56% Mar 16 2 Calumet & Arizona. 1000 62 60 60%?
170% July 10 126% Dec 11 10 Canadian Pacific... 16600 134% 131% 132%
101 Aug 17 91% Jan 14 7 Case, J I pr. 400 ?98% ?97 ?97 ?
116% July 24 56% Feb 8 5 Central Leather... 22700 95% 91% 94%+ 1
114 July 16 104% Jan 7 7 do pr. 600 108% 107% 108%?
67% July 7 31 Jan 22 4 Cerro de Pasco. 12600 56% 62% 66 + 2
65% Nov 7 30% Apr 12 4 Certainteed Corp_ 500 55 53 65+2
141% Nov 5 90 Nov 14 8 Chandler Motors_ 8100?124%?117 ?123 + 6
6b% May 17 61% Dec 16 4 Ches ft Ohio. 6900 56 51% 55%+ 2
13% July 23 3% Dec 17 ? Chic & Eaatem III.. 100 3% 3% 3%? 3
17% July 24 4 May 13 ? do pr. 400 4% 4% 4%?
12 July 17 7% Ja\i 21 ? Chic Groat Western. 2300 8 7% 7%+
30% May 19 21 Dec 12 2 dopr. 2900 '22% 21% 22%4-1
52% July 17 34% Dec 12? Chic Mil ft St P- 394O0 39% 34% 38%+ 3
76 July 17 48% Dec 12? do pr. 22300 54% 49% 64%+ 3
105 May 26 85 Nov 28 7 Chic ft N W. 30600 87% 85 87%?
133 Jan 13 116 Dec 6 8 do pr. 1100 119 118 118 + 1
113% Nov 3 72 Aus 21 6 Chic Pneum Tool_ 300 107 106 106?1
?2% July 17 22% Jan 21 ? Chic R I ft Pac. 10500 26% 24 26%+ 2
73 July 17 60% Nor 28 6 do 6 p c pr. 7000 61% ?663/4 ?59 + 2
64 Juno 6 68 Dec 19 7 do 7 p c pr. 2700 74% ?68 ?70%+ 1
82 Jan 8 60 Dec 3 5 Chic St P M ft O... 1000 61 69% 59%? 1
107 July 17 90 Dec 17 7 do pr. 600 96 90 9E ?
?L'9% July 14 16% Dec 1 ? Chile Copper . 25200 19% 18 18%?
50% July 16 32% Feb 6 3 Chino Con Copper... 8400 36 35 36 + 1
54% June 6 32 Feb 17 ? C Cin Chi ft 8t L. . 1700 46 43 46 + 3
95% July 3 60% Feb 27 6 Cluett Peabody . 3000 95 89% 95 + C
110 Sept 11 103% Jan 8 7 do pr. 55 109% 109% 109%+ t
43% Nov 7 37% Nov 28 ? Coca Cola Co. 3100 39% 38% 39%+ 1
56 July 14 343/4 Feb 10 3 Col Fuel ft Iron_ 9900 41 37 41 -4- S
$9 Oct 11 39% Feb 1 4 Col Gas & Electric. . 5000 63% 62 62 -?
313,4 May 5 19 Dec 13 ? Colorado & Southern 2100 20% 19% 20%+ 1
E934 <)ct 10 48% Jan 3 4 do 1st pr. 100 49 49 49 +
75% Oct 27 60% Oct 18? Columbia Grapho- 34600 64 67% 58%+ :
75 June 21 64 Aus 18? Consolidated Ciears.. 100 63% 63% 63%+
36% July 11 78 Aus 15 7 do pr. 300 80. 79% 79%?
106% July 15 79% Dec 17 7 Consolidated Gas _27300 85 79% 83 ? :
23 Oct 14 5% Apr *9 ? Con lut Cal Min.... 6400 19% 18 19 ?
37 % Nov 13 30% Dec 18 ? Consolidated Textile. 2800 31% 30% 31 +
1% Dec 9 % Dec 16 ? do rights . 4600 % ^ ^_
103% June 7 66% Feb 10 7 Continental Can_ 1000 90 88 88 + ?
16% Oct 20 10% Sept 22 1 Continental Candy.. 5500 13% 12% 13%-i
99 Oct 2fi 46 Jan 21 ? Corn Product? .38400 86% 83% 85%+
109% July 25 102 Jan 23 7 do pr. 1100 107 106 107 ?
79 July 14 48 Mar 15 6 Crex Carpet Co. 1400 55 58 65 + 1
5 Dec 19 5 Dec 19? Cripple Creek . 100 6 5 6 -
15 Dec 19 15 Dec 19 ? do pr. 200 15 15 16 -
261 Oct 23 62% Feb 7 12 Crucible Steel . 56800 219 199% 215 + I
105 Juiy 3 91 Jan 2 7 do pr. 100 100 100 100 +
410 Oct 31 150 Jan 2 10 Cuba-Amer Sosar... 260 385%*385 ?385 _ ,'
107% Dec 11 101% Feb 6 7 do pr. 300 106% 106% 106%?
55 Dec 8 20% Jan 27 ? Cuba Cane Susar. . . 33500 62% 49% 51% +
87% July 2 69% Mar 1 7 do pr. 2700*85% ?83% *84% +
116 May 29 91% Dec 1 9 Del? & Hudson_ 3400 99% S6 99% +
217 May 7 172% Mar 18 10 Dei Luck & Western 300 186 185% 186 +
15% July 14 3% Apr 25 ? Den & Rio Grande. . 3100 6% 5% 6 _
24 July 14 6% Feb 7? do pr. 9900 14 12% 14 +
?03 Aue 1 9334 Feb 21 7 Deere Co pr. 1000 99% 99% 99%?
16% May 15 10% Jan 31 % Dome Mines . 1300 13% 12% 13 4.
6% July 18 2% Dec 12 ? Duluth So Sh ft Atl 500 3% 3% 3%+
43 July 16 23% Dec 1 ? Elk Horn Coal. 1300 27% 26 27% +
43 June 27 27% Dee 15 ? Emerson-Brandt ..."1700 29% 27% 28 _
101 June 26 83 Dec 16 7 do pr. 1300 91% 88 89 _
150 Dec 2 80 June 28 5 Endlcott-Johnson_ 3900?136%?132%?136% +
10634 Nov 6 101% Aue 21 7 ?._ do pr. 2100*104 ?103 ?103%_
20% May 19 123/4 Nov 29 ? Erie . 15600 13% 12% 13%?
33 July 16 79 Dec 12 ? do 1st pr. 9800 20% 19% 20%+
23% July 17 13% Dec 16? do 2d pr. 3200 14% 13% 14%?
123 July 17 83 Dec 12 8 Famous Play L Cor 14400 89% *86% 87 +
23% July 15 9 Dec 12? Federal Min A Smelt 100 1o' lo' 1-8 _
18'4 July 14 25 Dec 16 2 do pr. 1300 28 25 28
173 Oct 8 38% Jan 7? Fisher Body . 600 130 121% 123 _
55 Oct 9 39% Not 19 ? Fisk Rubber Tire_ 118C0 42 40% 41"?_
64% July 14 33% Not 29 4 Freeporr Texas Co. . 14200 38 36% 36'"H
38% July 11 15 Dee 1 ? Gaston-Williams _ 9400 19'/, 17 18'/4
108 Feb 14 100 Dec 16 6 General Chem pr... 100 100 100 100 ?
96% July 23 47 Jan 3 6 Gen Clsar Ce. .?1400 72'/. 68% 72'/ -u
101 Aus 8 90 Dec 9 7 do pr deb. 200 93 93 93 I
176 Oct 20 144% Feb 3 8 Gen Electric Ce.... 9300 166% 185% 168 ?
406% Not 7 118% Jan 21 12 Gen Motors . 70000 340 314 337 +1
95 June 3 80 Not 14 6 do pr. 800 89% 88% 88'<V
9434 Apr 14 82% Feb 17 6 do 6 p c deb. 3700 87% 86% 86'"-u
933/? Oct -29 56% Jan 10 4 Goodrich, B F. 8700 81% 79 79%
105% Sept 19 102 Aus 14 7 do pr. 200 103' 102% 103 _
80 Jan 3 47% Dec 16 ? Granby Minins .... 3900 49% 47' 3 19' '
53% Nov 26 46% Dec 9 ? Gray ft Davis. 400 50% 48% 48% ?
100% May 27 75% Dec 12 7 Gt Northern pr. 40500 79% 76% 78%
52% July 10 31% Jan 2 4 Gt North Ore sobs.. 12600 37% 36% 37%?
47% July 14 32% Dee 2 ? Greene Cananee Cep 3900 34% 33% 33%?
12% July 26 7% Feb 4 ? Gal/ Mobile ft Ne.. 200 8 7% 7%+
40% July 18 80 Dee 18? do pr. 100 80 30 80 +
89% Oct 20 49% Feb 8? Gulf State Steel.... 8800 70% 84 7VA +
Summary of Stock Exchange Dealings
Lest week.
Railroad* . 1,096,300
Other stocks . 4,198,500
All stocks . 6.294,800
Stocks
Week Tear January 1 ?? date
before. aso. 1919. 1918. 1917.
838,900 613,800 41.798,900 21,601,700 23,779,100
4,710,800 1,617,400 262,611,200 124,621,100 160,114,200
6,649,700 2231,200 304,310,100 146,222,800 183,893,300
Bonds
Last week. Week before. Yesr sen.
U. S. government.. .$116,531,000 $114,128,000 $56,499,000
Railroads . 11,056,000 7,783,000 10,641,000
Other bonds . 19,081,000 28,004,000 6,731,000
All bonds . 146,668,000 149,913,000 72,871,000
1919.
$2,679,891,000
274,318,000
434,981.000
3,389,188,000
1918.
$1,224,316,000
161,228,000
458,138,000
1,843,687,000
Hish
1919.
95%
96%
71%
104
37%
?1%
88%
9%
81%
149%
120
67%
128%
82
80
33%
97%
70
65
48
?1
44
28%
67%
130
164
110%
116
43%
126%
169
107%
83
14
25
40
60%
250%
114
26%
81%
245
116
122%
79%
68
88
38%
31%
43
61
84 %
46%
131%
110
264
112
22%
71%
62%
24%
97%
109%
16%
25%
38%
68%
84
106%
72
63%
<3%
75
91%
139
121
92
24%
88%
104
94%
112
14
21%
50
14534
83%
33%
53%
703,4
75
40%
24%
20
112%
76
67
97
61%
13%
11%
149
39%
74
80
75%
40%
140%
3%
104%
47%
48%
68
57
20
28%
67%
60
43%
72
99
28%
105%
74%
Date.
Mar 26
July 18
July 18
May 16
July 14
July 14
July 18
June 2
Jane 12
July 7
dune 12
July 10
May 28
Not 6
July 22
Jone 26
M,?y 28
Dee 3
NeT 7
Mar 16
Mar 6
July 16
May 19
May 20
Apr 22
Not 3
Oct 21
Oct 22
July 16
July 14
July 24
Nov 1
Jan 21
July 21
May 19
Oct 21
June 2
Aus 8
June 24
Dee 19
Oct 20
July 24
July 29
May 17
May 27
July 11
Jan 25
July 17
Not 7
Oct 17
July 29
July 28
June 3
Oct 31
May 2
Oet 22
Aus 8
July 17
Not 18
July 14
July 17
July 12
May 16
July 22
July 18
July 9
June 7
June 10
Feb 24
May 15
Oct 20
July 12
Not 7
Oct 8
Oct 7
Mar 14
July 26
July 15
June 7
May 27
Oct 23
July 18
Mar 10
July 18
Sopt 24
Oct 22
June 6
July 10
July 7
July 30
July 21
July 17
July 17
May 29
May 19
July 3
July 28
May 27
June 2
July 10
May 9
Nov 3
Nov 3
Nov 13
Oct 17
Oct 18
July 24
Aus 15
Oct 22
Oct 29
Dec 19
Nov 26
May 19
July 16
May 26
July 17
Dec 19
July 18
Nov 20
May 23
Sept 13
Oct 20
May 9
Oct 28
July 29
Lew
1919.
92%
64%
40
86%
10%
48
42%
3%
11%
110%
111%
21%
92%
30%
62
20%
90
63
84
15
41
24%
13
40
105
68
101%
34
27%
42%
10C%
62%
39%
7
13
21
41
196
107
26
40%
147%
107
104%
64
63
3834
28
23
31
26%
60%
19%
60
104
1623/4
99
21
32
40%
9%
70
90
4%
8%
22%
37'/2
64
100
71%
40
29%
45
87%
107
112%
70
9%
45%
61
64
102
4%
13%
283/4
91%
66%
23?4
40
19%
44%
25%
16%
9
95
66%
47
77
46
3534
8
5%
128
34%
46
70%
69%
22
67
%?
92%
42
39%
27%
32%
43,4
12%
56
40
30
44
38%
16
101
45
Date.
Dec 16
Jan
Feb
Dee
Jan
Jan
Feb
7
6
18
2 ?
4 6
6 6
Mar 28 ?
Mar 29 ?
Jan 21 8
15 7
31 ?
10 6
3 ?
13 6
18 ?
17 7
12 8
DIt.
in$.
7
4
4
7
Sales, nigh. Low. Close.
100 *92% 92% 92%
91%
68
89
19%
81
62%
4%
143/4
12 ?
19 ?
16 ?
16 2
28 -
13 4
Dec
Jsn
Feb
Jan
Jan
Dec
Oct
Feb
Dec
Dec
Dee
Dec
Not
Dec
Mar 20
Jan 21
Dec 12
Jan 24
Nov 29
Dec 12
Jan
Jan
Dec
Feb
Dec
Ian
Not 20
Dec 1
.Inn
Dec
Feb
Apr
Jan 28
Aus 19
Aus 8
June 6
Not 28
Aus 5
Dec 12
June 6
do 1st pr.
riartman Corp - 100
II ask A Bark Car Co 2800
Illinois Central - 10400
Inter Asriculture .. 200
do pr. 600
Inspiration Cop. 19800
Interb Con Corp- 1080O
do pr. 16000
Inter Harvester. 6000 134% 127% 133
do pr. 600 114 111% 114
Inter Mer Marino.. 39700 60% 46 49%+ 1%
do pr. 78800 108% 103% 108%+ S3/a
Inter Paper . 43800 76% 74 75 -
do pr stpd. 800 78 77 78 + 1
Inter Nickel . 42200 22 20% 21%? %
91%
?55
86%
19%
803/4
49
3%
12%
20
21 6
19 ?
26 ?
16 ?
2 -
200 93% 93
400 70 69
9300 39% 35%
7200 17 16
6050 43 40
2100 267s 24%
5700 16 14
1900 44% 41
300 120 120
3300 138% 134
400 102 101 %
300 78 75%
61200 28% 27%
11000 *44% 42%
Rresgre, 8 8, Co. 100 140% 140% 140%+ %
Lackawanna Steel... 20900 88% 82?^ 263/4+ 3%
Laclede Ge? . 300 40 39% 39%? %
Lake Erie A Weat. 100 8 8 8 ? %
do pr. 200 1534 13 15%+ %
Lee Rubber A Tlr?.. 22900 38% 33 37%+ 2%
3% Lehish Valley . 18900 42% 41 42%+ %
12 Llesett A Myers_ 2500 200 195 195%+ %
7 do pr. 400 109% 109% 109%
? Loft Candy . 18700 26% 26 26% +
do pr.
Inter Salt .
Iron Products Corp.
? Jewel Tea Co.
do pr.
2 Jones Bros Tea_
? Kansas City South. .
4 do pr.
8 Kayser, J .
4 Kelly Springfield . .
8 do 8 p c pr.
? Kelsey Wheel Co. . . .
2 Kenneeott Copper...
120 Keystone Tire & R..
6
27 7
18 ?
20 ?
15 12
7
7
6
4
7
3
22 ?
22 ?
2 ?
2 6
2 7
23 10
17 8
Jan
Jan
Jan
Jan
.Inn
Jan
Dec
Nov 29
Oct 9
Feb
Jan
Dec
Dec
Feb
.Tun
Nov 29
Dec 15
Nov 28
Nov 18
Jan 21
Nov 13
Jan 2
Sept 18
Sept 4
Aug 20
Nov 20
Jan 22
Dec 2
Feb 8
.Ian 11
.Ian 11
Sept 8
Dec 12
Nov 28
Apr 10
Feb 3
Dec
Apr
Lo?ose-Wilea Biscuit..
Lorlllard, Pierre....
do pr.
Louisville A Nosh..
Mackay Co? .
do pr.
Manhattan Elevated.
Manhattan Shirt.
Martin Parry Corp. .
Mathison Alk Works.
Maxwell Motor Co...
do 1st pr.
do 2d pr.
Mn.v Dcpt Stor?s?. . . .
600 70 69 70 ?
2300*185 178 184%?
200 110% 110% 110%?
3000 111% 109 111 +
100 66% 66% 66%+
1%
%
1
1%
4000 118
do pr. 1300*108% 106% 106%
Mexican Petroleum. .249500 224% 185% 221%
do pr.
. 1O0
2 Minnii Consol Cop... 7600
1.20 Middle State? Oil.... 63200
4 Midvalc Steel . 39700
Minn & St L new. .
Minn St P & S 8 M.
do pr.
Mo Kan A Texas. . .
do pr.
Missouri Pacific ....
do pr.
4800 13?
1600 72
700 95
18500 9Z
1300 14
29100 26'/
9700 40?:
Montana Power . 8500 69'/
do pr. 2800 100
3 Morris & Essex. 50
? Mullins Body . 12100
3 National Acme . 2300
Nat Aniline Ch Co... 19000
7 do pr. 900
7 National Biscuif .... 700
7 do or. 700
5 Nat Clonk & Suit. . . 200
Nat Conduit & Cable 8300
6 Nnt Enamel & Stps. 1600
7 do pr.
6 National Lead ....
7 do pr.
Nat R R of M 2d pr. 500
1% Nevada Con Copper.. 3700
New Orl Tex & Mex. 600
10
12 5
12 ?
N Y Air Brake. 2400 111%
N Y Central. 340C0 69%
1
13
3
12
30
14
Feb 7
Mar 13
Dec 12
Nov 28
Dec 17
Dec
Dec
Mar
Dec
Jan
Feb
Feb
Mar
Nov
Dee
Mar
Dec
{Jov
Jan
Jan
Dec
Dec
Dec
Dee
Apr
Dec
Mar 26
Jan 21
Mar 27
Mar 7
Jan 3
Apr 30
Jan
Jan
Dec
Feb
N Y Chic & St L. . .
do 2d pr.
% N Y Dock.
6 do pr.
- N Y N n A H_
- N Y Ont &. West. . .
- Norfolk Soulhern...
7 Norfolk & Western
4 do pr.
5 North American....
7 Nor Pacific .
5 Nova Scotia Steel..
4 Ohio Cities (ins. . . .
% Okla Prod & Ref. ..
18 ? Ontario Silver . 1500 9%
12 5 Otis Elevator . 3100 140
13 ? Otis Steel . 700 36
7 3 Owens Bot Mach.... 900 60%
12? Pacific Devel Corp.. 1000 74%
20 5 Pacific Gas A El.. 1200 61
21 ? Pacific Tel & Tel... 800 37
21 6 Pan-Amer I'etrol. .. 117500 109%
do rights . 49500 %
do Class B. 429C0 106%
Parish-Bineham _ 700 47
Pcnna R R. 82700 40%
Penn Seaboard Stl. . 6900 34%
Peoples Gas & Coke 8500 34%
? Peor?a & Eastern. . 200 13
? P?re Marquette. 31200 28%
? do prior pr. 1100 66%
? do pr. 500 50
3 Philadelphia Co. 11100 36
4 PitU C C ft St L.. 600 69%
12 3
13 7
15 3
18 3
30 ?
2 ?
%
22 ?Pierce Arrow
.106000
99%
44%
84%
31%
109
10?
91%
132%
97
107%
27%
93%
38%
39%
106%
101%
53%
145
106%
74%
121
17
273,4
37
25%
37%
94%
28%
12
23%
228
19%
80
64%
89
115
257
33
72%
160
109%
151
104%
144%
64%
17%
346
70
70%
25%
116
120
13%
26', 2
62%
74%
60
197%
46%
138%
May 14
June 9
June 7
Oct 18
Oct 20
July 16
Nov 7
July 17
Oct 31
Nov 5
July 17
June 6
Feb 4
May 16
Oct 24
Not 1
Dec 11
Not 1
Nov 21
Nov 1
July 17
July 15
July 16
May 2
July 9
June 10
Oct 17
Aus 13
July 24
July 17
Dec 13
July 29
Dec 11
Not 3
Not 3
June 2
Oct 31
May 19
May 27
Oet 18
Oet 10
Oct 28
Nov 7
Oct 14
June 3
May 5
Oct 30
Not 2
July 2
July 23
June 30
June 30
July 29
July 25
Nov 10
Oct 24
June 3
Dec 5
Oet 14
May 27
90%
24
75
12%
59
10O
60
110
51
68%
19
73%
33
34
68
96%
48
71%
100
44%
84
12%
10%
20
10%
23%
63%
6%
7
12
168%
10
74
41%
46%
91%
132
20%
52%
124
36%
45%
92
42%
32
9%
185
68
27%
11
72%
97%
5
35%
37%
35
115
34%
119' 9
16
16
20
11
Jon
Dec
Die
Feb
Feb
Mar 3
Dec ?8
Nov 28
Apr 4
Feb 10
Mar 4
Dec 12
Dec 11
Dec 12
Aus 18 ?
Juno 28 7
Dec 16 ?
Jan 18 6
Jan 13 7
Sept 24 .
Aus 8
Dec 12 1
Jan 21 ?
Pierce OU . 9900 19%
do pr. 500 102%
Pittsbursh Coal _ 1400 63
Pitts Ft W & Chic. . 1 124
Pittsburgh Steel pr.. 400 92
Pitts & W Va. 13600 28%
do pr.
3G0
7000
1003,4 101
Fond Creek Coal.
Pressed Steel Car_ 7200 101%
do pr. 200 101
Pub 8er Cor of N J .. 600 65
Pullman Palace Car.. 7500 115
Punta Alegre Sugar.. 13300 95%
Railway Bteol Spring 2300 98
Ray Con Copper.14000 203/6
Readme . 38300 77%
do 1st pr." 400 33
do 2d pr. 200 35
Remington Typewr... 1300 90
do 1st pr. 300 101 101 101
Replogle Steel. 3100 60 49 49
Repub Iron A Steel.260100 115 103% 114
do pr. 1000*106% 104% 106
8
65
113'%? %?
93 + 2
96%+ 3% !
20%+ '/a !
77%+ 1%i
33_
34%+ %
87 - %
Repub Motor Truck.. 2300 56
8.44 Roy Dutch N Y she. 91200 100
St Joseph Lead. 1300 13%
St L & San Fran_ 12700 17%
Dec 1 ? do pr. 2500 24
Dec 18 ? St L Southwestern.. 3600 14
Dec 16 ? do?pr. 1000 25
Jon 3 9 Savage Arms. 500 75%
Mar 21 ? Saxon Motors . 4300 16
Dec 15 ? Seaboard Air Line... 2400 7%
Dee 19? do pr. 4200 13%
Feb 13 8 Sears-Roebuck . 300 228
Feb 19 1 Shattuck Ariz Cop. .. 1400 11%
Dec 13 ? Shell Trans A Tr.... 8400 78%
Dec 12 ? Sinclair Consolidatcd.209500 45
Feb 10 6 Sloss-Shcf Steoel A I. 8C00 73%
Nov 29 6 Southern Pacific _108000 105
Jon 2 20 So Porto Rico Sugar. 100 2-.0
Soulhern Rwy _ 27500 22%
do pr. 7100 57%
Stan.iur?'. Milling.... 200 140
Stromber? Curb .... 4100 75
Studebaker .109200 107% 103% 104'/
do pr. 300 100% 100 ? 100%?
Stutz Motor . 600 114 108 112% +
Superior Steel . 1800 46% 43% 46% +
Tenn Cop A Chem.. 10500 10% 9% 10 +
Texas Co . 22800 297 *222 *229%+
13 ?
12 5
Dec
Dec
Jan
Jan
Jan
Jan
Feb
Jan
Dec
Jan
Dec
Jan
Dec
Jan
Dec
Ma>
Jan
Dec
Jan
Nov 28 1
Jan 7 8
Dec 15 ?
Aue 8 10
14
10
22
22
14
21
1 ?
2 10
13 ?
21 ?
17 ?
29 6
5 7
1 ?
25 ?
16 ?
11 5
do right? . 23600
Tesas ft Pacific. .
Third Ave R R...
Tobacco Products. .
do Pr.
Toi St h & W ctfs.
do pr ctfs.
Traniuc-Contln Oil.
Tran Wirt? Steel .
Twin City Rap Tr.
Inderwood Typewr
Union
Union
20% 22%+ 1%
54 57%-- 4%
139% 140 ?14
?71% 74%+ 2%
%
3%
3%
%
4
1
Oil . 27300 36%
Pacific . 43200 124
Investment
Information
In this department The Trtlwne_win
throw the light of such tntornuM?n m
Ik at It a command on ?ne^ Invert mem
problem? of It? reader;. Question? oT
Jener?! Interest will be "M?*!?
this oolumn. Only Initials will be used.
Others will be an?wer<*<1 by mall.
Address ?H queries, Incloslns a
?tamped addressed envelop??, to
FINANCIAL EDITOR, The Tribun?.
164 Nussun Street, New York City.
Inclined to Speculate
Question?Will be triad to have sug?
gestions as to the advisability of with?
drawing a savings brink deposit of
about $1,000 drawing 4 per cent inter?
est and in investing in some seasoned,
dividend-paying stock, preferably un?
der par at the time of purchase, where
there is a prospect of enhancement
of value. In this connection have in
mind Central Leather common, United
States Steel common (although this is
above par), and some issue of Bath
lehem Steel.?F. F. H.
Answer?'f yon withdraw your funds
from the savings bank and buy any
of the stocks you mention you will
place yourself in the speculative class.
We do not know whether these stocks
will advance or decline. Nor are their
present dividends futures. Why not
buy some seasoned preferred stock,
such as United States Steel, American
Car and Foundry, Central Leather, etc.?
Municipal Bond Defaults Few
Question?Have there been instances
when American cities, counties or
states have defaulted on th2ir bonds?
If so, what redress have the bond?
holders? Why is it that municipal
bonds of Southern and Southwestern
cities and counties are offered at higher
interest rates than cities of the same
size in the Northeast and West?
D. A. M. S.
Answer?Only in rare instances have
subdivisions of states defaulted on
their bonds. A few years ago the city
of Atchison failed to pay its bonds
when due because refunding rates had
become so high that the city refused
to borrow. But the refusal to pay was
shortlived in this case and the bond?
holders received their principal and
interest. Redress would consist of a
claim against the city or town or
town or county, and would become a
first lien against the taxing powers of
the city, town or county. It might be a
long drawn out affair, but if the cor?
poration was solvent, things would un
I doubtedly work out well enough. The
; older cities almost always sell their
bonds on a lower basis in just the same
| way that older and well established
? manufacturing concerns do. Prosperity
! in the South is a comparatively recent
j development, and investors in the North
generally prefer bonds issued by North
: ern municipalities.
Higher Return and Safe
Question?I recently got out of the
| service, and have in the bank about
? $1,000. drawing 4 per cent interest.
This money I put there for safekeep
: ing just before I went overseas, but I
i now want to place it where it will give
? me a higher return than 4 per cent.
I What do you think of W. L. Douglas
: Shoe Company 7 per cent preferred
! stock at 100 a share, as recently adver
! tised? Do you think this stock could
! be readily sold, if necessary??T. M. W.
Answer?We think Liberty bonds
yielding over 5 per cent at present
I would be the best security for you to
! buy. They certainly are the safest.
| W. L. Douglas preferred stock, while
i undoubtedly a ?;ood investment, on ac
j count of its small issue, probably does
| not enjoy as active a market as many
I other preferred stocks.
Brokers Charge Fair
: Question?My broker has made an
! extra charge of 4 per cent besides the
6 per cent ($20 extra). Do you think
: this is a fair charge, as I do not want
1 to kick until I am sure of my ground?
Can you explain to me how they quote
American shares in London at about
15 per cent higher than New York?
Is this quotation in pounds or dol?
lars? Why has the Canadian Pacific
gone down more than any other rail in
the New York market the last three
months??E. G.
Answer?We think your broker was
perfectly fair on his charge to you on
your debit balance. He probably made
very little out of it at that, as call
funds were exceptionally high during
the month of November. Ameritan
stocks sell higher in London on ac?
count of the great depression of the
pound sterling. The quotation is in
dollars. Considerable selling of Cana?
dian Pacific has been going on In our
market by Canadian and British hold?
ers in order to stabilize Canadian and
F.nglish exchange. Austen Chamber?
lain, Chancellor of the Exchequer of
Great Britain, has just stated that he
advises British holders of American
stocks to sell their securities here in
order to establish dollar credits, thus
obviating the necessity of purchasing
sterling exchange.
M., K. & T. "Oil Rights"
Question?Have been advised bv a
party connected with Wall Street to
buy Missouri, Kansas & Texas Railroad
stock, if only a few shares, at any price
within reason up to $20. He states that
upon return to private ownership an
arrangement is to be made with a large
concern to drill on its right of way
for oil. Does this lino run through
many miles of the best oil property in
the United States and if oil was struck
of any reasonable amount would stock
be worth many times what it is sell- ,
ing at? Do they do a large amount of i
oil transportation??A. A. M.
Answer?Missouri, Kansas & Texas '
Railway is in receivership. Its pr?s- !
ent earnings are poor. The amount
fuaranteed by the government is
.551,737 a month, and for the first
ten months of 1913 the road actually !
earned $2,912,579, against a guaran?
teed return of $5,517,374. WTiile it la
possible that the road may arrange
for oil drilling, it is a question whether
or not their right of way is sufficiently
wide to hold out prospects of much
success. Apparently, everything con
nected with the State of Texas offer*
speculation in oil, but we do not think
the Missouri, Kansas & Texas Railroad
holds out anything more than a !
gamble in this respect.
WUchita Southern Oil Company
Question?Please inform me if the
Wichita Southern Oil, Houston, Tex.,
is a good investment.?F. L. A.
Answer?No, in our opinion, it's a
speculation.
Lauraine Magneto Company
Question?Will you kindly tell me
through your column what you think
of the Lauraino Magneto Company
stock??W. E. S.
Answer?This company has started
to manufacture magnetoea in its Long
Island City plant. The inventor of the
magneto is the president of the com?
pany, Michel Feldlne, The tebrth of the
stock will depend upon the success the
company has In increasing the sale of
its product on a profitable basis In
competition with concerns which al?
ready have magnetos on the market
which have stood the test of wide usage
for a number of vears.
Four full columns of invest'
ment questions and answers
are published in The Tribune
every Sunday
30 Years
in
Export Banking
23 Branch*? In Sooth America
6 Office* in Spain. France and EajLy
Direct Connections With Ini^
INTIMATE KNOWU
EDGE of the need? ^
habits of the people, acquired
by yean of experience m
actual residence in the coun?
tries themselves, is essential
when transacting busine?
abroad.
Anglo-South American
Bank, Ltd.
New York Agency, 49 Broaaway
Skelly Oil
With thirty-four drilling
outfits in operation, the pro?
duction of the company is
steadily growing.
Review of management*!
plans contained in current
issue of
FINANCIAL FORECAST
Among- other !rkv:?mi rri?*tia are
ISLAND OIL
GOLDWYN PICTURES
ARKANSAS NATURAL OAS
In reQi?f?tinrr ropir. ^.-V for V?. 54.
Sent tcn'thouf obligation.
MSWOLFE?C?
ESTABUSHEL iS06
41 BROAD ST. ?EWYOBB+
Phone Bt'c-.d 7.r>
J. K. Rice, Jr. & Co. Buy & Sell
American P?uio Com. * Fid. j
Am. h>aJ Estate 6?
Amer. Meter Stk. * Bond*
.American Chicle Com. & Pfd.
Am. Hawaiian S. S.
American Vanadium
K. W. Btiwt Com.
Burroughs Adding- Mach?n*
City lnve?tlruc Com. ?S Pfd
Cincinnati (ias <t Klec.
?el., lawk. & W?*t. Coal
General Bakingr (em. ?V Pfd.
Ins;er?.oII-H?nd Com. * Pfd.
Kerr Navigation
Klrby Lumber Com. * Pfd.
I?one M-ar fin*
l.elilirl? Valley Coal Sale?
Mohan k Vajley Co.
Midland Securities
Mergenthaler Unotyp*
McCull Corporation Com. ft PM.
Metro Pictures Com. * Pfd.
N. V. State By?. Com. * Pfd.
Nat. Oil of New .lerwey Pfi?.
Nile??-Bcniciit-Pond Com.
National l'uel Cat?
Nnt'l Ice * Cool 2nd Pfd.
Okonlt?* Co.
Pyrene Manufaettirlru;
Penna. Coal & Coke
Richmond Radiator Com. & Pf?J.
Singer Manufacturing
Savannah Hiver I.um. Com. * Pfd.
Texas Pa?lflc foul S. Oil
Victor Talking Machine
Ward Baking Com. * Pfd.
White Bock Water Com.
J.K.Rice,Jr.&Co.
Pirones 4000 to 41?0 John. 36 Wall St., N'. T
Par
Dividends
Capitalization
High?Low Records
Condensed Facts and Analyst?
on over 400 companies
in the 272 pages of the
INVESTORS
POCKET
MANUAL
Bent gratia on request for B-tl.
R. H. MacMASTERS & GO.
Members Consolidated Strate ExcH., N. T.
69 Wall St. New Yerk
Hanover 'jT,Z6. Gerund floor.
We Finance
Electric power and light enter
prisea with record? of estab?
lished earning?.
We Offer
Bankers and Investment Deal
era Proven Power and Light
Securities.
Correspondence Solicited
Electric Bond & Share Co.
(Paid-up Capital and Sunrta? i7i.S00.ttm
71 Broadway, New York
N. Y. State Rys.
Common and Preferred
J.K.Rice, Jr.&Co.
Phone? ?*??? to 4010 John. M Wall St.. N.T.
HARRIMAN NATIONAL BANK
Fifth Avenue A Forty-fourtb St
New York
IAnKINbH0Uf?flOi8rll. nilt.l.
SAFE DEPOSIT VAULTS 8 A. M. TO HIDNISVI