New-York tribune. [volume] (New York [N.Y.]) 1866-1924, September 03, 1920, Image 13

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New-York tribune. [volume], September 03, 1920, Page 13, Image 13
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 03 Sept. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-09-03/ed-1/seq-13/>

Newspaper Page Text

Year
Aiter
Year
a steady increase in
earnings has been shown
by a well known Power
and Light company lo?
cated within 35 miles of
New York City.
We offer the first mort?
gage bonds of this pro?'
perous corporation at a
price to yield about
8.10%.
Address Deft. "R"
Robert C. Mayer & Co.
Invaa.mant 9anfce>rs
Equitable Bldg.
New York
Tel. Rector ?770
CONFIDmCE
<<"VTO other advertising *
?^ agency has ever
shown the interest in oar
advertising that you
have," said a client. "We
are glad to find an agency
upon whom, without
worry to us, we can de?
pend to do things."
Confidence of our
clients in us is in a great
part responsible for our
success. We study the
advertiser's require?
ments and problems so
that, without bother to
him, we can undertake
details of a campaign.
Whatever we do is done in the
interests of the client. Space is
bought so tnat the advertiser
derives the utmost advantage
from the publishers' rate card.
Copy ?s written with a quick
understanding of what is wanted.
Booklets and follow-ups are
planned and executed at ex?
tremely moderate cost.
Lei u$ show you horn this
dependability in agency service
trill benefit you. Consultation
without obligation.
For Better Advertising
rank Klernan & Co?
Airmrtisint Ag
oadwav- -
AerstHttnt Agra??
135 Broadway-- - New Tor*
us?."
France to Ship
860,000,000 in Gold
To Pay Off Bonds
Terms of New S 100,000,
000 Loan in Connection
With Anglo-French Ma?
turity Expected Shortly
The French Treasury has completed
its program for establishing sufficient
?credits in this country to take care of
its half of the Anglo-French loan of
$500,000,000, which matures on October
15 n?'xt, it was learned yesterday. Ar.
initial shipment of g-Md worth from
$5,000,000 to $7,000,008, which will
mark the beginning of a substantial
flow, will leave Havre on September 4,
and it is expected that an "announce?
ment will be made here early next
week of the terms of a new loan to
Prance.
Th'e gold flow from France will be
larger than was generally expected, and
will probably amount to between $50.
000,000 and $60.000.000, with an out
aide possibility of $75,000.000. France
has been actively buying dollars in the
International exrharsre market for
weeks, and, it is understood, has prac?
tically completed its purchases of ex?
change.
The amount of the new loan will not
exceed $100.000.000. It is anticipated
in well informed investment circles
that the bond? resulting from the op?
eration will yield approximately 8 per
eer.t, and will run, if the New York
bankers' terms are accepted, about
twenty years.
Another slow-moving vessel is bring?
ing gold from the other side, and this
was understood to be the first French
shipment. It was said yesterday, how?
ever, that this ship was bringing Brit?
ish gold. Trui consignment is not be?
lieved to be related to arrangements
under whicn Great Britain will pay off
it? half of the loan, as these are under?
stood to have been completed. The
gold rr.txy possibly be for French ac?
count against credits which France
established in Iyondon, it was suggested.
?-?
Roads Seek Bond Issue?
The Chicago & Western Indiana Rail?
road Company has applied for authority
to issue $7,600,000 7!/4 pet cent col?
lateral trust bonds and $1,000,000 of
collateral trust notes at 6 per cent.
The Boaton k Maine Kailroad Company
h*a also applied for authorty to issue
bonds to the amount of $3,643,000 at
? per cent.
? m ? ?
Germany to Export Nitrogen
Washington, Sept. 2.?Berlin dis?
patch? u> the Department of Com
???rea to-ds7 ?aid the German govern
west planned to release from 30,000 to
60,000 tons of nitrogen made from ?ir
Tor exportation fre? of duty. Receipts
fro? such sale? will be applied toward
r**hjein<jf prices for German domestic
???s tuners.
A'^Ch*lrf,srn
Dividends
Ft?t? ?r.<1
Period. P*y?bl*.
ft
I ?
1% Q
i Su?i pir?tvirr.99 t'i <4
AnruMtr Uat?' ?,'f f! is tt
"?j??.,, o?? K?0r j Ci
0?tf?l Tmt K?jV f,f 2 Q
'u> ?f>tn , . . i _
Lc?r Kl," *?*'??
.?? ? K . 1 % <4
5^??*r? Mr,** pf J< ?jW
? riVHUin, Inc., . $0H? Q ..
mJ**i? M t* ?.. i ha n?tyt J?
--*? K. i%HAsUptlt
mmkwm ???? p.?.?} a on a
jsv,y It
f?I,i 20
Cms?; is
14*1,1 fl
0<-t 1
Oot J
r><:% J
V.'\A 1%
N?(/t 2*
Kept 1?
Oirt 1
Pet I
Hol?, er?
ot n*c
!<?pt J6
Oct !
Mej/t it
?**pt H
KfP? ?"
H*iv? It
tt'tii M
a?pt j 1
K?pt H
All* 31
ffopt U
a*t>t it
Stocks Maintain
Strong Tone in
Outside Market I
Elk Basin Petroleum Promi?
nent Issue on Announce*
ment of New Well; Other
Oils Display Strength
Stocka in the outside market dis?
played a fair degTee of strength yes?
terday. The buying was quite active
at times and numerous issues enjoyed
large fractional advances. The im?
provement was apparently in sympathy
with the rise in prices on the big
board.
In the oil shares the feature was
tiK Basin Petroleum, which was in
active demand following announce,
ment that the company has a royalty
and working interest in a new well
brought in by the Ohio Oil Company;
in the Rock Creek field of Wyoming. ;
I here was active good buying of Simms !
Petroleum and White Oil. !
Activity in the mining shares was
confined largely to the low-priced
issues, which generally maintained a
firm tone.
Industrials
1 fl^-. . r. . 0,,(,n' Hl*h' '-?*? L??t.
1000 ?Acme Coat .. 2% ? v? " 3 1
100 ?Aetna Bxp.. . 10 10 10 10
100 Atr Reduction. 45 45 45 45
100 ?Alum Mfsr ..21 21 21 21 !
100 ?do pf . SS?4 ?3% 83% 83%
100 ?Am Chicle .. 39 39 39 39
100 ?do pf . 63 63 63 63
600 ?Auto Fuel 8. 49% 4914 48% 48%
40 ?porden . 97 97 97 97
50 ?,1o pf . 83 83 83 83
300 ORr-A Chem C 7 7 7 7
100*Itr-.\ T coup 12% 12% 12% 12%
100 Brit Empire.. 2Jt 23 23 21
100 do 'To pf. . . 43 43 43 43
300 ?Puddy-Puds. . 2 3 2 2
200 ?Hucyrus ?'o.. 20 21 20 21
600Carbo Hydr .. 2 2 <? 2 2 ?i
27700 ?Car T.t & P.. 2% 3 % 2?; 3%
16C0*Chl Nippln... 9% fl7k ?i^ 9i?
."?"?O ??JJontl Motors. 8% ?1 ?? -v4 9
1500 ?Crudo CilC. 1 l'i 1 1 w
100 ?Dominion St I 52 52 52 62
400 ?Erap Tu & St 13% 13% 13% n%
100 ?Gardner Mot. 24% 24% 24'4j 24%
200 ?Oarlil Stmsh. 4% 4 ?* 4% 4%
3500 ?Geni Asphalt. 61% Ci 50% 52%
1000 Grapo-Ola ... 2% 2 Vi 2 <4 2 >4
1000 do pf . 3% 3% 3% ?,%
800 ?Horc Paper.. 25% 25% 24 25
100 Hydraulic Stl. 29 2:1 29 29
100 tdo pf . 80 80 SO 80
500Ind Packing.. (5 6 6*; 6%
1000 ?Int Con Pub. 11% 11% in* 11%
200 ?Kny Ci Gas. l't 1 % 1% 1%
100 ?Line Mo (71 A 40% 40% 40% 40%
loo ?Nat C I3k rts 88 88 88 8?
500 ?Nat flrepr .. 5% 0 6% f,
4 on ?do pf . 13% 14 13 % 14
800 No Am P & V 8% 6S ?'?% *>%
4nr> ?Orph ?'Ire:... 2i?% 27 20% 27
80(i Porfeetton T.. M, |A 1\ 1 ,*?
1500 ?R?>pub l?uh.. 1% 1% 1% 1%
300 ?R.IU n H vv I 7.7 38 27 38
10" ?Root & Vand 30 50 30 30
loo ?Roy Fi- T P In f> 5 5 r,
9000 ?stubmatMna lit. 12% 13% 12% 13%
000 ?Sweets C of A 1% 1% 1% 1%
20.1 ?Swift A Co.. 30% 30% 30'4 3 0%
300 ?Union Carh.. 64 64 63 63
3000 Un Profit sh.. 1% 1% 1% 1%
1200*I"n Ret S Cd y 11% 12 11 11%
3500 ?U S Hi Sp TI 2 2% 1% 1%
3509 U s Stmsh Co 2% 2% 2 % 2%
6500 Wayne Coal.. 3% 3% 3 3%
10.1 ?Wm Davlcs.. 2S 38 38 38
100 ?Willy? I'orp.. 16% l?i% 10% 10%
100 ?do 1st pf.. 72% 72% 72% 72%
100 ?do 2d pf... 55% 55% 65% 50%
Standard Oils
son ?Anglo-Am n. 21% 21% 21% 21%
10 ?So P<?nn Oil. ? 372 ? 372
65 ?St O C of NY ? ? 2SS ? 373
Other Oils
isonn ?+Ai:i?v1 Oil .. 20 21 20 21
1000 ?Allen Oil .'. . 1% 1% 1% 1%,
asootAnnali Wy O i, % ?^ %
100 ?Allan Gulf O. 72 72 72 72 ?
1200Biery Oil .... 15% 15% 15% 15% 1
r.oo Rieht P ft R. 9% 9% 9V4 0% .
130.-,:) ?Boon-' Oil ... 3J? 39 30 30
1200*Bost-M<?x Oil. 1% 2% 1% 2% !
6500 ?tPost-Wy <>. )?'; 1% 1 -V 1%'
1000 ?Cari b Synd.. I0't 10% ii % 10
SnO??'!: S 1! T sh 34 it 33% 34
1500?Cushing Pet. % % % %
2000 ?Denny 011 .. 1% 1% 1%. 1%
4500 *EMk H?sin P. 0 9 % 9 9%
30.?n Englnoers Pet 1% 1% 1 % 1 %
600 ?Federal Oil.. 2 2% 2% 2%
80.) ?Olenrock on. 1% 2 1% 2
500 ?Howe Sound. 3% 3% 3% 3%
500 ?Hudson Oil... i\ % -rV %
900?Internat Pet. 34 34% 34 3t
t 600 ?L*etono Pet.. 1% 1% 1% 1%
1000 Livingston P.. 5% r,"a f. % 5%
900 ?Marguy Oil .2 3 2 3
R0O ?M'-rritt O C. 14 14% 14 14%
1100 ?Ntl OO of NJ 7% 8% 7% *
500 N An: O & R. 2% 2% 2% *-'%
10 0 Omar O ? &G n 2% ? % -2% 2%
100?Panh P&R. S <4 8 \ 8 i.t Rs,
100 ?do pf . 70 70 70 70
300 ?Pennok Oil . 6% 7 8% 7 j
700 Pet Pr of Am. % % "? ?8 .
600 ?Prod ?z Hcf ? >' % 0 % ?' : . r %
400 ?Rod Rock Oil % % % %
500 tRickd T.x Co 1% 1:, 1% 1 '.,
800 ?So-tiled it Co 1% 1 % 1 % J %
100*Slncl O H% pf 82'-4 82% 82 % 82'*
6100 ?Plmma Pet.. .11 14 12 ) : U
lfiooSkelly Oil .... 9% 9% 9% 9%
2000 ?Superior oil. ::? 19 18% IS H
7400 ?Tfxon <> & I. U *? r"? '?*
1300 Tex-R P & Il % % \ %
'5"'0 ?Cn Toxas Pet % % "> %
1600 ?Victoria OH.. 1% 1% 1% 1%
800 ?Vulcan Oil . . 1% 1% .1% ' %
1500 ?White Oil ... 18% 19% 1* 19%
Mining
900 Al-Pr Col Met 1 ~, 1 ;> 1 '?
2rfin Ar (?lobp Cop. ?n r? -.? "s? |
78 00 'f..\- lanta . ? ? - - 1 % 2
6f00 ?-fRelrh 1> (a P) ?" % <"< 6 " ;
7500 tBelcli E ta p). io 11 10 10% ?
7300 nig I.edK's ... % % N '4
3600 ?tHooth . ?'. % n ?< % ?'
10.00 *Bos. & Mon.. 88 89 S? 80
2:????; ?TO.iledor.ta .. 19 2! 19 20 ^ ;
5 no Canada Cop... % % iT* J?
r ,1 ?Candelaria S. '?* % % '?
lf.00 ?tC-.shboy . ... 7 7% 7 ? %
72 ? for:? Vir Sliv. 3 3% 2 % 3%
380? ?Cortp? Sliver. 62 52 60 C2
20'. ?0 Crosson Con O 1 % 1 ??* '?*
1250C Div Kxt (a p) 30 32 30 31
2000 Emma SUvr-r.. 5 5 5 5
2700?+Bureka Hoi. 1% 1% 1 VV 1 ;T?
600*Forty-nlne M. % % % % ?
200 ?Golden Gat??. Vs* % V* %
4500 ?tOoldf Cons.. 9 10 9 10
67--I0 ?tGoldf Dev.. .5 6 4 5
25??0 ?tGoldf Mer... % % % %
25200 ?tGold ?. IJlv.. 30 24 30 31
2000 ?tGroat liond. 1 1% i '%
675 !!<? la Mn(i . . 4% *'4 * % 4J*
1500 "Iron Blossom ??< % r? *
3600?tJlm Butler.. 14 15 13 l_l
2700 t.Iumbo 17xi??n. 5 5 4'^ si ;
201 0 "tKr-wanaa ... : -' 2
3500 ?*Knox Idvlde 7% 8% 1% ? ?
l? 1 ?loulHlana ''on ?V % V* ^
2700*tMar?h Mng. 14 17 14 10 |
200 ?Mother I. C.. 5% 5% 5% C*4 !
25 ?N .1er Zinc. .181 181 181 181
100 ?do rts . 11 H I' 1' , ,
lOONhi.iHlr.c M Co 9% ' 9% 9% 9%
*;.-?< ophlr Sil M C % % % J :
1600 Princo <-';ii ... A " i? 'V
1'inO li>x Consol ... fl 6 6 b
1000Roper-a M Co A, rV iV ;', :
ISOOKenec-a Copper 15% 16 IS H !?'?
600 St f'rolx Sllvor 1% 1% 1% 1^> I
3500?tSilv Ke I;iv 3 4 3 4
Ef.no ?,silver I'i'k.. 6 ?% ? JH?
350 ?Simon SU I.d. 1 1^ 1 1,1
200f5tan<l Sll I.d.. % 4 % 4 ,
2700 ?tHucces? Mn* 4 4% 4 4%
3600 ?Sutherld Plv. 3% 3% 3 S%
470 ?Tono polmont HI H? 1% *?
3i;?iO?Tono Divide.. 1 ?3 1% 1 ? %
3"0Tono Extt-n .. 1% 1 "t. 1 ?* '%
110 ?Tono Mng ... 1% "? % ;% i Ia
750 t.'nlted Eastern 2<f> 2% 21? - ??
6500 ?tVlCt I' (a p) 9 10 9 1?
ZKOOtW End Coas. 1% li> ' '* '?>
2600 tWh faps >U. 8 ? ? J, |
20/SO+\Vh <J Ex (a p) 1% 1% ]% '"A j
4600Wllbert Mng.. 8 3% 3 3 ?* .
Donds
Sales (000 omi?ed). Open. High. Ixiw. I.ast
110 ?Al'tl Pack-rs ?s ?1 ?1% ?0% ;"%
43 ?Am T*T 6? '22. 94% 94% 94% 94%
: 3 ?do 1924 . ??V ?2% !?? ?r'4
8 0 8 7
-? _
15?An-A O 7%s wl 99 99 98%
15 ?Armour T? w I. 90% 96% "
15 ?CCCJtStl. 6s '29 80 87%
1 ?Oov of Swe.a C?. 83% 83% 83% 83%
10 ?Inter R T 7?... ?5 65 64 64
5 ?Kenne Cop 7?.. 92 92'? ?2 92%
80 ?N-YNlUtH 4%.. 72% 73 71% 73 1
i 75 ?N V C?*. 7? '30.100% 100% 100'4, 100%
?(>?>!. ab Air I. 6%. 64'?, 65 ?4 64% 6 5 '4
S0 ?Sinclair 7%% . 90?* 90% 90 ?014
. 20 ?Tex ?7 7% notes 09% ???Vi, 98% 99
6 ?In Tank I. 7s. 97 97% 97 97%
? 10?W??tn EI?C 7s.. 98% ?8% 98 98%
German Internai Bonds
Mark* (000 omlt'd ). Open. Illuh. I.ow. I.nst.
,165 ?Rerlln 4? . IH'/i 18% 18 18 s?
1 ?Frankfort 4? .. 2 ! 23 23 23
; 100 ?Hamburg 4%?.. 20% 20% 20 20'?
; 14 ?Hanover 4?_ 21 21 21 21
'< 44'I^elpzlg 4 %? ... It? 1? 19 1?
60 Magdeburg 4? .. 20 20 20 20
4 ?Munich ?n. 19 1? 19 1?
'?Unlisted, fflella cent? per abare.
Record Oil Outpfu? in July.
Oil reached a high record in July,
when 3M19.000 barreta were produced
, In the United .State?, according to? the
I I'nited Htatea Geological Survey, The
consumption wn oatimated at 44,281,
000 barrel)?. The production for the
' three months endea July 31 totaled
L 11j?jMB,000 barrels, while th/ eonmimp
: tion amounted to 180,968,000 barrel?. A
high record for oil well completiva
was also made In August, with ?> total
of 3,618, ?n increase of 787 over July.
Th? new production wat 290,61? bar?
rai*? aa inervas? of $1,280 barrais ovar
??t?/.
The Day's Bond Market
U. S. Government
Transactions
Sales.
Uberty 3%s, 1947.11,126.000
do 1st 4a, 1947. 12,000
do 2d 4s, 1943. 28,000
do 1st 4%s, 1947.... 120.000
do 2d 4% s. 1943. 7-66,000
do 3d 4%s, 192.8.... 769,000
do 4th 4%a, 1938.... 1,941,000
Victory 4%s, 192S.... 701,000
do 3%s. 1923. 396,000
Quotations
High. I.nw. Last.
Liberty 3%s .... 90.0* 89.90 89.S4
do 1st 4s. 85.6? ?6.10 86.10
do 2d 4s. 85.00 84.80 84.80
do 1st 4%?- 85.90 85.44 85.52
do 2d 4%s.... 85.12 84.90 85.10
do 3d 4^a_ 88.40 88.Osa 88.32
do 4th 4%a_ 85.40 85.0? 85.30
Victory 4%s_ 95:56 95.44 95.44
do 3%s . 95.56 95.48 95.48
Tleld.
4.14
5.02
5.20
5.24 !
5.42
?10 I
5.56 !
6.45 !
5.42 ;
Net |
Chfje i
?.06 ;
+.10
+ .38 !
-f .12
+ .24 '
+ .22
+ .22
?.06
?.04 i
Bid and Asked Quotations
Liberty Bond?.
?%.?. 1947 .8
1st 4s, 1947.. .. 8
2d 4s, 1942_ 8
l?t 4%a, 1917. . 8
2d 4%a. 1942.. 8
3d 4'is, 1928. . 8
4th 4%s. 1938.. 8
Vic. 4%s, 1923. S
Vic. 3% a, 1923. 9
Pre-war Ishucf
fa reg., 1930.
2s coup.. 1 930. . .
3? reg.. 1946.
3a coup., 1546.. ..
4s reg.. 1925.
4s coup.. 1926 . . .
2a Pan. c, 1930. .
2a, Pan. r., 193?. .
2?, Pan. c, 1938..
2s Pan. r.. 1938..
3a Pan. reg-.
3s Pan. coup. ...
Phil. 4a, 1934_
Phil. 4a. 1935_
Phil. 4a. 1936....
D. Col. 8s, 1965. .
Closing
Yesterday.
9.90? 90.00
5.10Hi 8 5.50
4.80? 85.00
5.52 (a 86.80
4.04? 84.10
S.32C? 88.J!'!
5.26? 85.30
5.44 ? 95.48
5.44? 95.48
Closing
?Wednesday. '
90.00? 90.10
85.20tgs 85.50
84.44? 84.GO
85.52? 85.80
84.80W 84.90
8S.02'yl 83.10
85.08? 85.10
95.50 ? 95.54
95.50? 95.54
? 85
& ?
Foreign Govt. and Municipal Bonds
(Interest To Be Added)
Plil. Asked. !
Anglo-French Kxtern 5s. 1920. 89% 99% J
Argentine Intern 6s, 1945. 08 4 69% I
Klng'dom of Belgium 0s. 1921.. 9.8 ?i 98% ,
Kingooni of Belgium 6s, 1925.. 90>? 93
Kingdom of Belgium 7%s, 1945 97% 97% '
Canada. Dominion of, 1921_ 98 98% '
do notes, 1<j21. 97% 98 !
do 1920 . 87>4 88%
do 1929 . 90% 90%!
do 1931 . 86% 87%
Chinese Ovt Hu Kug Ry 5s, '51. 42 42% !
Cuba Extern 6s, 1944. S6% 87
do 6s, serle? A. 1949. ? 81% J
do 4%s, 1949. ? 73
Dominican Rep 5s, 1958. 88 84
City of Lyons 60-year 6s, 1934. 83 83%
do Marseilles 15-year 0s, 1934 83 63%
do Bordeaux 15-yetir 6?. 1934 83 83% I
do Copenhagen 25-yr. 6%s, '44 76% 75%
French, Pari? City ?a, 1921. 51% 93%'
Govt. of ?Switzerland Ss, 1340...102 102%
Japanese Oovt 4%s. ntrl In, '25. 72% 73 j
do t'ls, 2d ser, 1925. 71% 72
do 4s. .string In. 1931. 57% 57%
Japanese Tokio City 6s, 1952... 51 % 54
Un K Gt B & 1 5-yr 5%s. 1921. 96% 90% I
do 3-yr 5%s. 1022. 91 % 91%
do ?0-yr 5%s. 1929. 84% 85
do 20-yr 5%h, 1937.81% 8 2
Mex Estern string 5k of '99,'45.. 3? .86%
do gold 4s o? '04, 1954. 28 % 25%
King of Italy 6-yr 6%% gJd bd3 ? 52%
(Salea)
Anglo-French 6s
18,000. <in %
80.000. 99%
|Jap stlg loan 4s
8.000. 57%
_? 4.000. 57
1,000. 99% lO.OnO. 67%
6.0'?o.100 JJ.000. 57
2.000. . .87? 99%l ?,000. 67%
Chines- liy 5s ,K of l.^ltslum s f
10,000. 42%; 71.?? J I> M rets
2 090. t'l ' 10 ooi). 07 4
l.'OCO. 42%'! 1,000. 97%
Citv <f Hord Gfl 3.000. 97%
I 1.0OO. 8 1 i 1,000. 97 %
City ?>r Copcnhag.'n : 7.0';o. 97%
6%s do Os 1921
4.000. 751?,' ]000. 93%
City of l.vons 6s K of Italy ou,s
4.000. 83^: BPr A 1925
:. 000. m 2,000. 92v;
City of Mars 6s
1.000.
S.oo 1.
City ft Paris 6s
. 0 0.1
10.000. 93 ?i
3.000. 93%
Domini?-si Rep 5s
10.00.). ,s30f 83%
2,000. 8.1% I
27..000. .s30f 83%
2.00!,. 84
Pom Can 5%s
notes 1929
2,0 r? 0. 9 0 % ?
Jt.000. 91 '
do r-s 1021
4.000. 98 ;
do 192?
JJ 000. 87%;
Rep of f'uba 5s 1904 |
1,000. 85%
U K <?f ?i? Itrit & I !
6 %s 1921 I
lO.OO'i. 96 4.
5.O00. 96%
1 0.000. 90 4 ;
1.000. 96% s
do 1922 ,
1.000. 91% I
1 >>o?.. 91 %
6.0*0. 91% J
7.000. 91% !
2,000. 91 % '
2 ooo. 91% .
do 1929
13.000 .
1 7' ?' 1
1.000. s?
of Swlt 7- rland
s f Ss temp rcti
l.ooo.102 ?
9,r 0.102'
. 15,000.
1 000.
do 1937
6.000 .
1 000.
1.000.
1.000.
85
84%
82%
82
8 2 >4
82%
.... 1
.... 1 <
.It
....11
4%s
20
12 000 .
do ?d ser .4 '-is
2.000 . .s30r
1 .000.
2.0011. .s20f
'H4
:?%
do
tig loan 4^
10.000. .36
do 4s
2.000. .s30f 28%
2.0,10. 29
is.OOO. 29%
Virginia dfd fis
Tt M ft Co ctfs
ir.000. 04
N Y C 4%s 19D7
May
4.000. 90
1 000. 89 %
do ?s 10 67
8.000. 80 14
do 4s 1969
1,000. 30
Railway, Other Corporations
. _? g-.iiu,, r,? I Bklyn IT Cas 6s
Am R3mo00?B. 74% 1.000. 73%
VA-''30' 7,% ?uff Ro',sh-?-p is
inooo.'. 744 2.010. "o
,\,Y ,.-. 74?2|3URh Ter Bldg 5s
12-,;?o. 75 t<^. 75 I
JI'.OOO'. .830f 74%. !;u!'h?'I?'Vn CCn -n I
I.O11O. 7 7.
0.000. 74%
Am T & T col 5s
8.000. 78 %
3?000. 78 4
dc
cvt 111
10.000 .
1,000.
8,000. . .
l.ooo. . .
' 10,000,..
2.00.J. . .
do col 4a
4.(010 . . .
Am W P s f
^_
do 4M
1.000. 72% '
Canada So 5s
If. 000 . ... 82%
10 000. 83 % ,
Car Clin.- & O 5s
5,000. 74
C'en of On Ry Cs
;;?;,? 5.000. 37%
I,;-',* c,.nt Leather 5.1
19.0"". 90
Cent rar gtd 4s
2.000. 72 ?4
9s?%
96%:
75%
77%;
?o?.
Armour i'o 4%!i
7 000. 70 ?
A T ?fe S F gen 4s !
Ji.ooo. 75%
10.000. .8.30? 77, %
18.000. 75%
7 2 %
?2%
9.000 . ,i?30f
1.000. .a30f
5.000.
Chi'B Sr <> cvt 5s
4 000. 80 s*
12,000. flOK,
(1J
.00.
fi.000. 76%
do a?l.) 4s
2."oo. r,8 %
3.00?). 68%
do stamped
10 000. .s.30r 68%
2.000. 70
do Ry M 4s
l.ooo. C9
?Atl * i' A 1. 5s
1.000. 80 ?'
1.000. 81
At! C I. lut con 4s
5.000.
10.1101).
50.000. ...
do cvt 4%s
l.ooo
?0
74
do I. ?& N 4s
1.000. 67%
do 7? .1 P M rets
5.000. '.3
6.000. 99'4
Aust & N \V 5s
1.000. 83
Bait ?fe Ohio 6s
21.000. 891,4
8.00O. 89%
80% i
80%
80'4
7 0%
7 t
73%
74
3%
74
73 ?4
2.000.
do gen 4%S
2 0i)0.
liOOO. 73%
1.000. 73%
12.000. 73%
21.000. 73%
7.000. 74
10.000. 44%
lf-000. ??%;chlo"A'A?ton'3%*
2.000. 89% jOOOO. 3.7
do cvt 4%s ? (,00 , #i- 371/
".?n0. ?9 ,lo r1g j,,
20.000. e*%!c B * ?j Joint 4s
1.000. 68%'
r.000. 68%;
do rfg 6a
8,000. 68%
14.000. 68%
11.000. ?* %
r,,000. I'O
1 000. 09%
4,000. I'O
1.00?. r,v%
14."00. 69 j
do gold 4s
2.000. 8614,
.000. 95
r,.i.on. 95 ?.;
4.Of0. 55
1.000. ?,r,i?
10,
1 Vio. 95%
& E'l? im 5a
1 000. 71
& E 111 rfg 4s
ctfs of ?1-poa
4 0 000. 32%
10000. 32%
non. 32
10.000. 85%. Chic ?it West 4s
9,000. 6? ' 2,000 . 55%
2.000. 66 %' 1000 ! '" 6?
1.000. ?5%,C M & St P cvt
1,000. 86%
do pr lion 3%?
8,000. 80%
?o Pitts I, K &
W Va 4a
9.000. ?0
?Je flwn 3%s
12,000. 73%
1,000. 74%!
8,000. 74 ?4 I
do T A V 4s
3 000 . 60 ?4
10.000. 60", I
15,000. . . . 60%
JO.O00. 60% I
1,000. 60 *? j
1.000. 61 j
6 OOO. 60%)
19,000. 51
Hath Hti p m 6?
?,000. 7?
?Bklyn Hap Tr 7?
etfa of depos
4.000. 17
de Bf
MOO.mu? M
6s serlea B
10.000. 70%
2.000. 71
do cvt 4%a
5 000. 70%
2.000. 70
do gen 4'4lH
7.000. 72%
2.000. 72%
do rfg 4 %s
32.000. ?1<?4
4.000. is i S
1 .?.on. ?3 4
I ,oon. ?3%
1 I ,000. 034
!,,0"0. 014
4.000. 03%
do gen 4a ?er A
6.000. H7
1,000. 6?
do deb 4a 1934
6,000. 04
6,000. 63%
C A Nwn ?en 4c
?temped
? ?U.OOO.,*?.?. TI*
Chicago N W7l
temp rot?
1.000.101
5,0.00.101%
1.000.101%
N T Rya rf* 4s
ctfs of depoa
8,000. 20
N T S & W sen 5a
4,000. 40
9,000^.101 %|N T Tel'deb'fl?
C R I & P gen 4s
1,000. 71%
do rfg 4a
2.000. 67%
87,000. 68
3,000. 68%
14,000. 68%
Chio Un Stn 4%a
aer A
1,000. 77
Chile Copper 7a
10.000. 98
do ?a
1,000.74
6,000. 73%
25,000. 74 I
C C C & St L ran 4a :
1.000. 68%l
Con Om tem 7s
1,000. 98%!
1.000. P9
1.000. 98%|
? . 1-000. 98%|
Coba Cane Sugar
cvt deb 7a
3,000. 88%l
5,000. 88
_ 10.000. 88%
Cuba R R 6s
4.000. 72%
Del & li cvt 6a
1,000. 84% !
1.000. 84%i PftC
do rfg 4s I
n^ i.,0??~V" *7T?'Pa tem
Den ARG Imp 5s I in
5.000. 72 '
do rfg 5s
1.00?!. 87% I
do 4%a
2,000. 7.6%
1.000. 7?
2.000. 76%
N Y W & B 4%a
1.000. 45
Norf ?& TV con 4s
1,000.75
do dlv 4s
?O.OO0.74
3.000. 74 V4
9,000. .a30f 74
2,000. 74
1 000. 74%
2,000. 73%
North Peo 4%s
1,000. 78
do 4s
1,000. 76%
2,000.7?
do 3s
7,000. 64%
Ore (k. Cal lat Ss
10.000. ,s30f 87%
10,000. 87
Ore Ry & Nav 4a
?.O0O. 76
Ore Short Line 4s
7.000. 78%
Ore-W R R Ss N 4s
6.000.?. 69%
T & T 58
82
1930
3.000. .a30f 63%
48.000. 64
B.nOO. B4V4
2.000. 55
?.000.I 5414
?.000. 54 ?4
1.000. 55
9.000. 54
15.000. 65
do ctfs of depos
5.000. 62
do con 4s
1.000. 65
D?t Rlv Tun 4%s
fi.ooo. 73
1.000. ..'.'. ' 72%
Krle t,r ll?n 4s
fi.ooo. . . . 55?;,
5.000_;; 55V
5.000. 54
do gen Hen 4s
fi.OOO.... 47
2.000. ...'.' 47 y
13,000... ' 474
10 000. . . 47
2.000.; 47%
l.ooo. 47
O.OOO. ' 47?4
4,000... ; ; \ 47,?
do cvt 4a aer A
l.'.ooo. 42
7.000. . . . ' ' 43
Pftl10.; 4214
5.000. 43
2,000 ....'' 43 1/
2.000...;;; 43.4
13.000. 44^
1.000.
10.000. .
do evt 4s
?.100. .
2.000
1,000,
1.000..103
4,000.102%
5.000.102%
65.000.102%
15.000.102%
3,000.103
11.000.102%
0.000.102%
1,000.102%
4.000.102%
do 5h 1968
1.000. 86%
do con 4%a i
10.000. 88%
do gen 4 ??a
10.000. 77%
0.000. 77%
4.00n. 78 %
do 4s 1906
2.000
4
".9%
4s
27
28%
5,000
10 0 0 0
1 5 , o 0 0 ,
-?oo.
t 43 R?.r
43 4
44
B
42%
434
42%
4 3
P
46
47
47%
40%
io non.
l.ooo.
10 000..,"'' 4f? u
6.000.'. 47
! Fia Ennt P 414,
? , lf,na. ??... 76%
Hock Val 4%s
l.ooo. . 70
, Hud & M rfg'.is
0.000. . 57
1.000
do Ir
21% 1
111
lfl.oon 00 !
l.ooo!;;;;; 21%
8.000. ;i 74,'
"? noo.; o,w
10.000... 21 *?
4.000. . . . . 22
l.ooo. !{n!
I.OOO....;; 21%
74.000. 22
Central 5 ?4 s l
87%;
15 !
15%'
16
15%
I.OOO
111 Stepl 4%s
2.000. 7
Intbor?-Met 4%a
2.0oo^^^^^
5.000
6.000
40 000
40.000. 15T?
1.000. 1?
1.000. 1514
40. non . . 15%'
40 "oo...;;; 16% I
do ?-t's of depos
48.000. 15 I
Intboro u x rfg fin '
12.000. 47%'
10.000. . . -47
25.000.; 471, '
31.000. 47%
1."?. 47%
2,000. 47U
26.1100.47 ,
Int Me?- Mar 6s
6.000. 7514;
i?er Mar 5s I
10.000. 81 4 :
2 "00. .s30f 81 ?4 !
3 000. SI ?% s
Iowa f'e-itral 4a I
l.ooo. 43 !
6.000. .'.'.'.'.' 434;
fi.ooo. 44 i
& M 4s
p a & c of ch
2,000.
Peo & R lat
1.000.. .
: do Ine 4a
8,000...
I 6.000...
2.000. 29
1 Pera Mnrq 5a
? 2.000. 79%
Phlla ?'o 5s 1922
3.000. 86%
? Pisa C C * St L
4%s ser A
7,000. 78%
?Reading gen 4a
2.000. 80%
I 3.000. 80%
! Rep I X- Stl 5s
2.000 . 87
?Rio G W ?st 4a
1 000. 65
2.000. 66
; do col 4s
fi.ooo. 50
Ban An ?- A P 4?
1 5.000. 02
! St L I M & a 4s
o.noo. 7 1
6.000 ....
' do 4s II & (
5.000. , . .
St L & S F 4? ser. A
j 13.000. 504
5.000. 59%
1.000. 504
I 2.^0. 50 %
4.000. 59%
6.000. 59%
fi.OOO. 50%
' ?2.000. 50 1.:,
! 3,000. r>o v;
S.ooo. 53%
fis ser B
?.?A. 7014,
60.000. 70
35,000 . 70%
8,000. 70%
fi 000. 704
2.000. 71
6.000. 70%
6,000. 7 0 %
5.000. 70%
do fis ser C
1.000. 87
"- '"1. *fi%
1 2.000. 87
73%
div
do
100 .
r.000. . .
3.000 . . .
de ad] 6a
Tnt
K C
0 0 0.
fi fi ?4 :
8 fi % I
8?% I
Pfi
38.000. 66% i
2.000. 66% i
19 000. ?s?; 4 j
19.000. 66% i
60.000. 66% i
fi.OOO. 6fi% '
2.000. 60 4 !
6.000. 66% '
do Ire fis 1
20.000. 66 |
19 0 0 0. 6 fi ?4 ;
l.onn-. 60 i
2fi 000. 554 I
9,000. 66 % i
1,000. 56 I
9.000. f.r, 4 ,
34.000. 504'
1 i.ono. 56% !
7.000. fifi?4 '
2.000. 66%
25,000. 67 j
37,000. 5714 !
8,000. 57
2.000. 57 ?4
1,000. R7%
20.OO0. 67%
12.000. 67
2.000. 5 6%
1.000. 67
4.0O0.fi 4 H
6.000. 64 U
8 000. 64%
5,000. . . : . : 65
Kan ?'Itv 80 5s
12.000
do 3n ?
3 0S10 ,?30f 54?./,
Kan Cltv Term 4?
1 ,ono. ?By
2."00. (134
Kentucky Cen
?ll^St L Swn'r'n'ii
69%!
,000!_
9.000..'.... 61%
3 000. 61
1.000. 61 ?4
-> Term 5s
2.000. 6014
2.000. 604
3.000. 61
? * K C Sh I,
44s
0 010. r.5
,0*0. C4%
1i.?n-v,,r.C"4iStllbAlr-L rfff 4h
Keok ?J- n M 5s
5.000 . 70
Lack Ste..| fis 1923
6 000. 9014
Lake P 4s 1928
1 O"?) . S2?4
do 4s 1931
o.onn . ?n
Lehluh \ si fis
1,000. 5?; i?;
Liggett fir M 79
3.000.1 04 '4
Lorl'.lard ?7-o 5s
L <t
do
l.noo.
4 000.
43%
.1 P M rets
2.100.loi u.
4.000.101 %
do At Knojt ?t C
div 4s
2 001"'. 69%
do So lly joint 4s
?.O00. 63
Mldval? Steel 5s
1 000. 77 %
5.?n.. : : : ; 77%
5 000.79
Min ?S- St L rfg 5s
1 1.000. 51 \;
30.OOO. 51
1 ono 52
do 4s
p'.oon. 44
6.000.
6.000I_
M K A Bast 5? j
10 (,00. 4 0 |
M K ,>.- T 1st 4s !
5.000. fi 8 I
2.000. 5S%
do 2.1 4s
2.000. 24%l
do rlfs of depos i
3.000. 33 I
Mo Pac eosi fis
3.000. 98%;
do fis 1D23 i
2 000. 89
do 5s 1926
2.000. 84%]
do gen 4s
4 000. 67%'
20,000. 57 .
2.000. 57'4;
?O.nno. 67
3.000 .
3 0 0 0 .
4 000.
6.000. 45
do ad| 5a
3.000. 33
10.000. 39%
19 Ono. 39'
10.000. 88% .
10 1)00 39
u 000. 28%
So Pacific cvt Bs
2.000. 0 8
? noo. 97 %
5.000. 99
10.000. 9 8 4
2.'"10. 98%
do .-? ?' ls
6,000. 76%
1.000. 7fi>*
5 000. .s30f 76%
1 noo. 70,%
7,000: :;;;; 75%
do rfg 4s
ir. 000. 74%
6.000. 74 4
l.ooo. 75
4.000. 754
3 0 0 0. 75%
6.000 ...... 7fi
.3 000. 75%
.000. 75
do
il 4s
s30f 66 \
?30r 6fi%
5.000
10,000
4 oorj
Southern l?v 5s
6,000. 83%
13.000. f.O
. . 60%
11, Of
00%
1 00O. .ii.30f 00%
do 4s M & O dlv
1.000. 53
St I, & W 4a
Cs
47%
47%
9 8
'.7%
77 4
6.000.
1.000.
Union Pacifie
25.000. . .
do lat 4a
4.000. si 4
6.000. SI
J .000. NI %
4.000. 81%
4.O00. 81 4
do ?vi 4s
1 O.onn. 81%
do rfg 4s
4.non. 7 5 ?4
Cntil Hv Inv fis
N
19. non.57 ',
1,000 .... 57
Montana P\vr 6s
2 000. 80%
NOTA- Mex 6s
1.000. 93 !
do 5s
l.ooo. ?"! ;
2.000. 65
6.000. 65%
T Cent deb 6a
B.OO0. 90%
21.000_ 90%
do rfg 4%a
6.000. 74 !
do ron 4a
11.000. ..... 69
do rfg 3%s reg
10 000 . 6 4
V i* Ai St I, deb 4s
2 ''00.68%
Y Css K I, H
A Power 5s
2.000.73 '4
do p ni (s
2 000.61
N T N H Si H 6s
11,000. 78%
do n-c d?b 4a 1955
1.000. 60
do deb 4a 195*
1.000. tl
N T O ? W lrt 4i i- _v;VIL''. '
4.000..?? ?S%l&Uh * North te
N
t.'n IM of s F 4n
n r? ..f ??i-pos ;
2,000. 24 j
L' S Rubber tem
7%s 1930
6,000. 98% J
6,000. 98
1 000. 98% '
6,000. 98%
6.000. .a30f 97%
| 3.000. 98% i
do 6s
3 ono 77
1.000. 77%
V 8 Smelting ?a
13.000. 93
U S fJt-el s f 6a
2,?on. 91%
i 8.?i'?0.01 %
?,0<>0. .s3?)f 91
8.000. 91 %
1.000. . ?ilf 91 %
1.000, .s30r 91 4
24.000. 91 %
10 000. 91
6,000. 91%
6.Ono. 91%
10,000. 91%
10.000. 91%
6,000. 91%
1,000. 91% |
?."?"'..??M ??*
M?*%e? M
Cancelled Orders
Slow Up Business
All Over Country
Lumber, Machinery, Fnrni
Numerous Other Com?
modities Show Falling-Off
in Demand
From The Tribune's Washington Bureau
WASHINGTON. Sept. 2. ?Almost
every phase of business of the nation
hag been affected by contract cancella?
tion, according to a comprehensive
analysis just completed by the Chamber
of Commerce of the United States.
The lumber industry seems to have
been hit the hardest, the chamber's in?
vestigation showed. In one division of
this industry alone cancellations have
amounted to 77,000,000 feet since Jan?
uary, or more than 3,500 cars. The
survey reveals tha\ these cancellations
wore largely* by buyers.
In summarizing the cancellations in
various industries the chamber's re?
port said:
"PAPER?There has been a tendency
to pyramid orders ? redicated on low
production, these orders later being
ancelled after deliveries bewail t.o int- i
prove. Again, there has been consid?
erable cancelling where prices decline,
working considerable injury to the
manufacturer, who has been reluctant
to stand on his legal rights. There is
a disposition in this industry to create
a bureau to curb this evil in some
equitable way.
Machinery Work Protected
"MACHINERY PARTS Most of the j
work i? ?ione on .special order ur.di-r an
agreement which protects the con?
tractor from loss in case of cancella?
tion.
"BUILDING LINKS ? Cancellations
are uncommon except where for flnan
cial or similar reasons the project is
abandoned. !
"CORSET.S? Cancellations due to the j
restricting of credits and in part to I
overstock.
"BABY CARRIAGES?Cancellations
due in part to difficult housing condi- !
tions, shortage of domestic help and to
the decline in several stated of the birth
rate.
CHAIRS ?No unusual number of
cancellations, but many requests for |
extension of shipping dates.
CLOTHING ? Many concellations
based on fear that the public will not
buy, induced by the generul publicity
attacking present prices.
WOMEN'S WEAR -Only a moderate
number of cancellations and an efTort
is being made to educate the trade !
against repudiation of orders.
MACHINE TOOLS -Cancellations
due largely to inability of manufactur- :
era to produce in time to meet re- i
quirements.
PRESSED METAL TRADES-Can?
cellations largely on account of manu?
facturers using these products revis
inuc their manufacturing schedules,
particularly the automobile makers.
Most contracts are so ?lrawn that the ;
buyers must pay damans in case of
cancellations, owing to the fact that
most of their product is made to spe?
cial patterns or designs.
Furniture Business Hard Hit
FURNITURE?During the period of
low production the demand increased
rapidly, leading to overbuying and later,
duo to restrictions on building and
housing conditions, thero came a reac?
tion in demand and a consequent can?
celing of orders, particularly from
those who had overbought. The in-j
dustry contemplates taking steps, cither
through placing certain restrictions in
orders and contracts or by an educa?
tional process, to obtain more equitable
treatment for the manufacturer who at '
present carries the burden.
SILKS?An unusual number of can?
cellations are reported, duo to coali?
tions in this line that have been given
considerable publicity. The represen?
tative organizations of the silk peojde
have a bureau which adjudicates all
claims f;ir cancellation, with due re?
gard to both parties to the contract.
HOSIERY AND UNDERWEAR The
cancellations in this? line have been
considerable, the buyers apparently
taking advantage of the manner in
which orders are given and accepted.
Steps will be taken to mako these or?
ders in future definite contracts, su
that they will be more seriously con?
sidered.
-?j--??
U. S. Foreiign Trade in
July Beat Last Year
WASHINGTON, Sept. 2.?Exports of
the United States to the principal
countries of the world during July
totaled $051,381,827, an increase of
$82,694,312 over the corresponding
period last year, according to Deoart
ment of Commerce figures published
to-day. Imports for the same month
amounted to $537,170,351, an increase
of $193.424,281 over July, 1919.
Pof the first seven months of this
year exports totaled $4,809,254.121, com?
pared to $4,626,109.206 in 1J19, while
imports totale,! $3,481,938,379, compared
to $1,954,257,362.
?.-???-?-?
Financial Items
Oe?rg-e A. Muir hos resigned frVim th?
board of ?ilrectora ?>f tii" Middle Stat<?3
Oil Corporation.
The Warlnpr Hat ManufaeturtnK C^P""
ration reported sales f??r the e ?Ri?
months ended Angus' .11 were $?2S9.0no,
as compared with ?2.602.000 for the name
period of last year, ?in Increaao u? more
than DO per cent.
Montgomery-Ward ?- Co. reported pates
for August were $7.701,458, an Increase of.
$131,760 ?.ver th????.- of ?VuKUst last year,
and the sales for the eight months ended
August were ?74,39?.206, an Increase of
?14.348,206.
The New York Stock Efhane? has re?
ceived the following npplhsatlons to list:
National Parle Hank. Jt2.uOO.O00 additional
capital stock; the Hydraulic Steel Com?
pany ?6 000.00" 7 per cent convertible pre?
ferred Mock. 41V7JI4 ?hares of common
Htock no par valu-, and the |-t. J,,.-e ;h
Lead Company, ?1,409,467 additional cayl
tal stock.
John .T. Merrlman. formerly associated
with th? Aetna National Bank ?if Hartford.
Conn., ar.d more recently assistant cashier
of tho American Colonial Hank In Sail
Juan. Porto Rico, has been appolnte.t
treasurer of th? Federal Land Hank of
Springfield. Mans., suecee.llng Scott Dal
Ulelah. who resigned.
Announcement Is mndn from Chrls
tlar.la that It has been decided to amalga
.ir.ate Denorsko Credit Bank with th
Northern &? Overs?';? nankin? Corporation.
Handels-or Export Hank ?if Chrliitlanla.
;,nl that nil of the assets and llabll.tl"S
,,;? the latter ??re to he trnpaferre?! lo Pen
Norsk" Cru? 111 Bank. Th?; ?' lual fusion
will occur about December 1. 'I he c.n.i
blned Institutions will have cnpltal and
reserves of about 86.000,000 kron? r.
I leutenant Colonel C. M. PuPuy, presi?
dent of the Pennsylvania Itubber ' oinpnny,
and son of Herbert Pul'uy, for:?.er chair?
man of the bnar.l of dire, tors of th? <'ru
ctbla Steel Company of America, has been
unar.linouBly elected ? chairman of the
board of directors of the Chelsea Kx
rhange Bank, a ?1.000,000 Institution now
operating three banks In New York, with
headquarters at Broadway and Forly
?ei.'oni! Street.
Utah Pwr & I. M I T\-o?t ???jjrylixn.J 4?
1,000. 72 I Z.UOO. 56 4
?IOOO. 72 >4 ... -;,00''-.--v ?*
Va-Car ?hem
St Pa
1.000. 91
1,000. T9
, West Short' -Is
Wabash 1ft Ss _ \ 7.on?). T'H.,
?.Olli.Sfi'tii 1 ioOO ..!!!! 74\
do 2d 5s ! ,1.,, ,'. K|?t, ,?..,?.'
1.000. l>JlT1i ? ? 0,000 .... 179
Weal Klee 6s ; West Cnion soi
1,000. 93 4 ? 2.000. 73
Whl'A I. B 4?*? j do 4'is
1,000. 13 \\ ?,000. 74??
do oon 4a Wllaon Co 1st 6a
1,000.6?*? 3.000. 17
1,000.il i do cvt 6?
MOO..??? S*<4 13,000..,,?*? ?Hi
Investment
Information
Questions of general interest ta
ttit>e?ior? will .be answered in this
column, in wltleh eat? only initiale
will be used. Others will be an?
swered by mail. Address all in?
quiries, inclosing a stamped, ad?
dressed envelop?, to Financial Editer,
The Tribune, ISi Nassau Street, New
York City.
Are H. V. Greene Shares 100 P. C. Safe?
Question?Inform ma if the following'
in ve?, nient that I am contemplating to
make la safe: I have ?400 and I can save I
aoout ?10 per month from my work and
i ?art to buy some banking shares whore
frCn,jV? '">' money will be 100 per cent
.-, - l "ave heard ao much about finan
i.r ?<- mo''racy and the securities of the
w V ??r.ene Co., Inc.. of Boston. They
nave now on the market shares of th?
Hankers CnioTi for Foreign Commerce and
1< nance. Inc. Do you think my money
will be safe If I invest them In thla propo
.?.1 ,,' an you teU r''> aomethlng about
this Greene Idea??A, P.
Answer?The Tribune, for the last
year or more, has tried to warn its
readers that the shares sold by H. V.
Greene are r.ot investments, ye>, in?
quiries like yours continue to come in
and the man apparently is selling a
lot of the stuff. We have contended
that is not safe for a company to tie
up its assets in second hand automo?
biles, and that it is not Wise to put
money into a company where the di?
rectors, not under banking supervision,
can do practically whatever they please I
With it. We hopo that the Greene com- :
panics and their stockholders will come
out all right, but partial confirmation '
of our fears already has como from
Boston, where .the receivership of the
Massachusetts Motors Company has in?
volved two of the Greene tinunco com?
panies. The report of tho stockholders'
committee says that "it was found, in
several instances, the management had '
been remiss in not. supervising more
carefully the collateral pledged a3 se- :
curity for loans. It was found, es?
pecially in tho case of the Commercial
Finance Corporation, that orie of the
companies to which it had lent consid?
erable money, tho Massachusetts Mo?
tors, Inc., had sold a large number of
cars without applying the purchase
price against the notes which the cars
secured. Certain other business losses
were discovered in each of the [two]
companies." That is one side of the
Greene idea. It is one working of
financial democracy?the kind glowing?
ly described by a stock salesman to a |
workingman who saves $10 a month.
There is plenty of real financial democ?
racy in this country for you when you
cs?.n buy Liberty bonds with your $400
and add to your holdings with your
savings, regularly. You can buy other
investment bonds and stocks in the
same manner from brokers who ad?
vertise in The Tribune. Our advice
to you ia to let the Greene idea alone.
Would Speculate for Long Pul!
Question?May I ask an expression of :
opinion with reference to th" ?rdlnary
registered shnr-s of the Brit Ish-Amerl
onn Tobacco Company, Ltd. Anglo-Ameri?
can i'll. Chino Copper, Texas Company,]
Pnited Retail Candy ;?nd Cnlted Hta?es
Steel (common). If purchased around pr.-s
?nt prices tor a Jon?? speculative pull'.'?i
A. >[.
Answer- Your list is attractive from j
the business man's speculative stand- !
point, in our opinion, except the Chino
Copper stock. It might be well for ;
your purposes to consider substituting
for it one of tho speculative rails, like J
Reading, ?Southern Pacific or Norfolk
& Western or International Mercantile :
Marino preferred. That is only our
opinion, however, and fhe next man you
meet may be able to convince you that
the good copper companies, like Chino, ;
uro the best speculation on the list.
Worried About His Oil Shares
I
Question - r bought Pomlnlon Oil at i
14 27?. What la the reason for the recent i
decline? It still pays in cents a month
i?lvi?!.'n<ls. 13 it better to held or s-Jl? :
What is th- nature of Indian Packing
business? lines I! pay dividends? What;
Is the prospect? Radio Compnny. N'atur>-;
of business? Dividend paying? What is,
the prospect" International Nickel. Mid-j
? i'.,' State? ?dl Sinclnlr and Texas oil ?
?'".?npnnv Are th'y ?livid.ml payers? Are s
tin > go "1 prospects??.!. S. Jr.
Answer?Dominion Oil has been in-i
volved in litigation. Besides, market
conditions have been against oils, par- |
ticularly Middle States Oil, affiliated]
with Dominion. The stock is too specu-j
lative for us to attempt to tell you
whether ti hold or soil. The litdinn j
Packing Corporation is engaged in the ]
business of supplying Council Brand j
meats, of its own packing, to wholesale
grocers throughout the country. It
is paying 25 cents a share quarterly |
on its 4-0,000 no-par value capital j
shares. The book value ii abouti
ST.5)0 a share. The stock is specu- j
lative, its our opinion. The Interna-j
tional Nickel Company passed its com-i
;r?on dividend in .Dine, lUl'.l. Middle '
States Oil pays 40 cents a quarter and ;
its president has declared himself in!
favor cf more stock dividen.Is and,
higher cash distributions. Sinclair!
;uiy: - per cent quarterly in stock and
Texas Company ~i> cents quarterly in
cash. They are all too speculative for
us to try to predict their market pros?
pects.
Cautious About Paris <5s
Question? I as". Interested In City of I
Purls ?s ?lue 1321. The bond ?seems to.
me s und and yet the yl? Id Is so bl?;
,is lo ii.diente ?laniter. Coul?! you pP-is.
? \pl'i:i why the > s-id is so high, especial-I
,; u h ll'ss?'- -P. ?I '
Answer? The reason the Bordeaux
and Marseilles bonds yield less than i
the Paris issue is that they do not!
mature unti' 1934, while <:hs Paris j
bonds fall due next year. Short term ?
investments always yield more than
long term, other things being equal. ?
We have faith in the credit of the I
French cities. The distance and the ?
element of risk of possible political
complications, though ?mall in this I
case, contribute to make them sell low- '
er than domestic issues of tho same ;
merit.
Choosing Among Liberty Issues
Question ? Do you consider Fwlft * Co. |
Koud stoek to invest in at present? Which
,|n >??>? tiilnk is t i- best bond, the fourth
Liberty loan or Victory 4?*??J. Q
Answer?Your choice between the
Victory notes and the Fourth Liberty ;
loan will be determined by the ma?
turity which better suits your need, j
The notes are short term investments
and the bonds long. Neither is better!
than the other in a general way. Swift;
& Co. shares, like other common stocks,
arc speculative because sensitive to
earning .power and general market and
trade conditions.
Bethlehem .Motors a Dilemma
iiu,,,t;, n ? t rerently purchased some,
shares ?.f Prthlchem Motors at ?15. I
,,,....... that .'?.ir.s" has ?r;n" into receivers
hnn.i.s. Would you advise ho'dir? for ro
urifi?nutation ?>r selllnp; ?in' at pr?:-s? trt
prie.''.' ?'rtii you give me any Information
as to the st.inrtlntt of men connected with
the company??K. is. B.
Answer ? Your Bethlehem Motors
stock was a speculation when you
bought it and it remains so. The com?
pany uppears to be in capable hands
now, but we cannot venture to predict
what the outcome will be under future
conditions. If you cannot afford to
speculate on the matter, you had better
take your loss and invest your money
in some security which shows a reason
abel factor of safety. General condi?
tions ?!" not look favorable for weuk
automobile companies.
Four Uill columns of in?
vestment questions and an
steers are published in Tha
Tribune every Sunday.
Stone & Webster
IJiCOKFOKATED
147 Milk Street 120 Broadway SB Se. Deutbare 9fc
BOSTON NEW YORK CHICAGO
EXAMINATIONS AND STUDIES
of industrial and Public Servie? Properties
REPORTS
an Valuation and Operating Efficiency
NOTICE
Denver & Rio Grande
Railroad Company
Seven Per Cent. Cumulative Adjustment
Mortgage (Income) Gold Bonds
The Undersigned Committee representing the
Seven Per Cent. Cumulative Adjustment Mortgage
(Income) Gold Bonds of the Denver and Rio Grande
Railroad Company has received an offer from the
Western Pacific Railroad Corporation to issue and.
exchange its Four Per Cent, (interest fixed and not
dependent upon income) Ten Year Secured Notes,
par for par, for said Adjustment Income Bonds.
THE OFFER OF THE WESTERN PACIFIC
RAILROAD CORPORATION IS CONDI?
TIONED, AT ITS ELECTION, TO THE OFFER
BEING ACCEPTED BY THE HOLDERS OF
$7,510.000, PRINCIPAL AMOUNT, OF THE AD
JUSTMENT INCOME BONDS PRIOR TO SEP?
TEMBER 20TH, 1920.
Owners of Adjustment Income Bonds will re?
ceive in cash an amount equal to the interest due
on said Adjustment Income Bonds October 1st,
1920 (from which date the Notes of the Western
Pacific Railroad Corporation will draw interest) less
Ten Dollars ($10) per bond to meet the expenses and
compensation of the Committee and its counsel, de?
positaries and agents. If Certificates of Deposit and /
or Adjustment Bonds of a sufficient amount for the
consummation of the arrangement are not deposited
the deposited Certificates of Deposit and Adjustment
Income Bonds will be returned without cost to
the depositors.
The Committee having given careful considera?
tion to the offer recommends the acceptance thereof.
For the purpose of ascertaining whether the offer
is acceptable to the owners of Adjustment Income
Bonds, of an amount sufficient to warrant the West?
ern Pacific Railroad Corporation to consummate the
proposed arrangement, holders of Certificates of De?
posit for Adjustment Income Bonds deposited with
our Committee, and owners of undeposited Adjust?
ment Income Bonds, electing to accept the offer,
should promptly deposit their Certificates of Deposit
and, or Adjustment Income Bonds with BLAIR &
CO.. INC., 24 BROAD STREET, NEW YORK
CITY, which will issue its Certificates of Deposit
therefor.
Adjustment Income Bonds when deposited must
be accompanied by interest coupons due October 1,
1920, and all subsequently maturing coupons.
For further information apply to the Committee
or its Secretary.
JOHN B. DENNIS,
Chairman.
Hornblower, Miller & OTTO T. BANNARD,
Garrison, Counsel. ALONZO POTTER,
Arthur O'Brien, Secretary, BERTRAM CUTLER,
24 Broad St., New York City. Committee.
Sues Greene for Alleged
Breach of Contract '
Foreign Credit Clearing House
Asserts Stock Underwriting
Agreement Lapsed I
An application for a writ of at- ',
tachment in a suit for $500 000, about'
to be begun by Mark O. Premiss and !
others against Harry V. Greene an.? the
il. V. Green?' Company, investment
brokers of Boston, was filed here yester
?!ay with Supreme Court Justice Philip
J. McCook. Mr. Prentiss is connected
v.'ith the United States Clearing House,
?>f Foreign Credits, Inc., Ill Broadway.
The suit will allege breach of contract. ?
On behalf of Prentiss and his associ?
ates it is alleged that Mr. Greene as j
;h?? president of the corporation that
bears h?3 name entered into a contract
?>n April 9, this year, to underwrite and
snarket $5,000,000 worth of preferred i
stock of the United States Clearing I
House of Foreign Credits, Inc., and [
failed to live up to the agreement.
Alley, Lee and Yorhces are attorneys
;"or the plaintiffs. ?
Elk Basin Company
Earns $1,020,724 Net
In a report to stockholders the Eik
Basin Consolidated Petroleum Com?
pany reveals net earnings for the six
months ended June 30 last of $1.020,
72*. Dividend payments on $9.000,000 |
capital stock amounte?l t?j $375.482,
eaving a balance to surplus of $645,
'J38. Profit and loss surplus on June 30
??mounted to $1,812,713. Current assets
as of June 30 totaled $1 685.588, against
?urrent liabilities of $1,584,827.
In March of this year the company
took possession cf the Mutual Oil Com?
pany, which operates refineries and dis?
tributing stations in the Northwestern
states, and the earnings of this com?
pany are not reflected for the full six
months period.
New York Metal Market
On the New York Metal Exchange
tin was steady, with Class A quoted
at 44c to 46c; Class B, 42c to 43c and
Straits shipments, 44c to 46c. Copper
steady; spot and September. 18.80c;
October, 18.90c; November, 19c. Lead
easy; New York spot, 8.65c and East St.
Louis, 8.50c. Zinc easy; New York
?.pot, 8.20c, and Ea3t St. Louis spot,
7.85c.
London metal prices follow: Lead
spot and futures, ?36 10s; zinc spot,
?33 10s, and futures ?40; tin standard
spot, ?269, and futures ?276, with sales
of 100 tons spot and 550 tons futures;
copper standard spot, ?95 2s 6d. and
futures ?96 7s 6d, with sale? of 250
tons each, and electrolytic spot ?111
and futures ?117.
Plan Capital Increase
A meeting of tho stockholders of the
Grape-Ola Products Corporation has
been called for September to vote on
two propositions to raise additional
working capital. The first plan calls for
sin increase of the capital stick ta at
amount not exceeding 750.000 shares
of common stock of $10 par value and
1,175,006 shares of preferred also of
$10 par value. The second plan con?
templates the organisation of a new
company to which the assets of the
7>rosent company ?hall be transferred
in exchange for capital atock.
?
?
REPUBLIC OF NICARAGUA
STERLING LOAN OF ?SO?
Th? ?'ours. II of K?,relgn bondholder? glv?
notice that they will 1?? |;r?-p?red to pay ?ff
?it j??ir on ?n! atlfr tTi? ?;h of BcptMBbar
th?? whota of the Funding < ertlfkaiaa ?In
? udlnic Fractional CertlAcataa) outatand n?;
with inter???? at 4 lier ?en?. \wr annum ?1<??r.,
Income ?ax? to th? S?h of i-?-pfemh*r. aftar
?hi'h date Ins,r>?i ?vtll ?n.? <o run
Certincatea from abr..?1 mini be pre?
sented for payment Ihr? ??h a l/onitm Agent.
l.l?tt* i an ?>?? obtain"?! . n aspiration
JAME8 ?> ?'?/Ti?'Ff{. itnrotary.
IT. M or?,?ie Street, London. E. C. 1
??th Auk .-?? ..' ?
TUT. \MFRIC \N TOBAFCO COMPAXT,
III Fifth At nu?-, NVw York, ft. V.
Net ? :? hereby given that the tranafri
bouka .' the r.iiiBt?red ' I ** cant fold
bonds "? Th? American Tobacco '"ompany
wij; ? Joi? >, t :),- . ?v of b-jit:neaa Kepteru
b-r ;? ?920, for *ho payment of mter.at
due '?? tober !, 1920, ?r.d reopen at 19 a. ?a.
on October 2 1920
J M. W HICKS. Traaaurar.
DIVIDEND NOTICES
NEW YORK TRANHIT COMPAJTY
18 Broadway, New Vorn. Augu.t i7th. l???
! A ?l.\.!?;: 1 of K ' ? T"'..?* per ?har? haf
hwr: declared r.n th? Capital Btoek of Thi?
I Company. ??u>m ..? ?xto??er 15 1*20 to ato.:'?
ho. >r< of r~ , : ! h: Us- ?.Jo?? of bualnt.?
September 2?), 192 ?
i A!l comm ?. ?tlor? r??arilr.g payment or
chant? < ' a.::-?? fhoui'l !?* ?ent to 'ba un
clprsJgnc'.J i. ? Ja'.ei than ?? ?? t.-r ?'h. 19?0
GBORUE CHESEURO'. Secretary.
SOUTH PORTO RICO SUGAR CO.
September lat. 19?0.
Th? I'.oarl of Director? ha\? thla ?lay de?
clared quarterly dividen?!* of ':% on the Pra
ferreil St?x_k an?I 3^ "?? '.h* Commop, 0Uek .
ulao an ex'ra dividend of 2^ on the Common
Stock: ail ),av,4; .?, on (xt?.bar 1. 11)20. to
' atw.kbolder* ef r??"rd S?r,'?mr>ar 16. III?.
FRANK M WEI.TV. Tr?saaurer.
AMERICAN SNIFF COMPAWY.
i Memphl?, Tenneaaee. .?????lenibtr 1. 111?.
T7>!\i?1?-n !h of 1 >, <"c r,n she I'referrad and
a?-- or, the Common Stack cf AMERICAN
SNIFF roMPANT ?ver? to-day <te?Iar*l.
payable o ?o><r 1. 1920, to K'ockholdar? of
i record ar h?- ''.nun of buatn?as Beptamber
lu. 1920 Checke will be mai lad
Transfer tuok.i will rema'n '?pen
M E FIN'H. Treaaurer.
FINANCIAL MEETINGS
? THE ANNT AT, MEETIMi OF THE STOCK -
i holilera of ths J E. I.lnJe Paper Co. ?II!
be held at the offl?.* of the Company, So
: Heekman Street. Iiorough of Manhattan, on
I Thursday. September 16th. 1920. at 4 o'clock
I P. M . for iha election of directora and cffl
, cera and auch other buaineaa aa may eome
before the meeting.
BERTRAM E. LINDE. Be.* reta ry.
May Change Denver
Bonds for W. Pac. Notes
A .. immittee headed by John B.
Dennis has noti?ed holders of Denver
& Rio Grande Railroad Company's 7
per cent cumulative adjustment mort?
gage income gold bonds, that it ha*
i received an offer from the Western
i Pacific Railroad Corporation to issuo
I and exchange its 4 per cent t/ta yearv
secured nates par for par for th?*>
Denver bonds. The offer is condi?
tioned on its acceptance by holder?
! of 57,510.000 adjustment income bond*
prior to September 20.
? Owners of the Adjustment incomn
? bonds will receive in cash an amount
?'fj'.ip.l to the interest due on th? income.
Donds October 1, 1920, from which"
j date the notes of the Western Pacific
i will draw interest, less $10 per bond,'
j to meet the expenses and compensation
of the committee and its counsel, de-?,
positaries and ?Rents.
Holders of certificates, ?re reqtteated
to deposit them with Blair A Co,
24 Broad Street, Not York City.

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New-York tribune. [volume], September 03, 1920, Page 13, Image 13
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924