New-York tribune. [volume] (New York [N.Y.]) 1866-1924, October 07, 1920, Image 14

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New-York tribune. [volume], October 07, 1920, Page 14, Image 14
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New-York tribune. [volume] (New York [N.Y.]), 07 Oct. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-10-07/ed-1/seq-14/>

Newspaper Page Text

MACKAY&CO.
BANKERS
Deflation now in progress will
gradually bring about lower
money rates, which the high
grade bonds are now begin?
ning to discount
We are recommending some
high grade investments which
undoubtedly will sell consider?
ably higher when money rates
return to normal.
14 WALL STREET
NEW YORK
Members Net? York Stock Exchange
COUPONS
Payable at Our Office
October 1. 1920
BRUSH ELECTRIC CO.
1st 5'a, 1952
KNOXVILLE GAS CO.
Is?. 5'?. 19:!3
SOUTHERN ONTARIO
GAS CO.. Ltd.
1st 5s, 1953
Henry L. Doherty
&. Company
60 Wall Street, New York
Solvay & Company
7-Year 8% Secured Bonds
Due Oct. 1, 4927
Secured by pledge of Com?
mon Stock of The Solvay
Process Company and
Sernet-Solvay Company.
Net income available for
dividends on pledged stock
averx god over 2^4 times an?
nual interest charges on the
bonds for the three-year
period ended December 31,
1919.
We are offering these
bonds at 100 and interest
Yielding 8%
CoIgaie,Parker&Co,
49 Wall Street New York
i STANDARD
L
ISSUES
1919
FSMA^CI?L
STATEMENTS
OF STANDARD OIL COM?
PANIES ISSUED TO DATE.
TOGETHER WITH OTHER IM
PORTANT INFORMATION AND
A COMPREHENSIVE REVIEW .
OF THE OIL SITUATION IN
GENERAL. CONTAINED IN
OUR N"EW BOOKLET (I8TH
EDITION).
Copy on request.
CARLH.PFORZHEIMER&CQ
Dealers in Standard Oil Srcunlies
?5 BROAD ST. Phone? 4850-I-2-3-4 Broad
Three Attractive
Groups of
Securities
A booklet we have just prepared
analyzes the effect of present in?
dustrial conditions upon three
important groups of securities.
This booklet also contains im?
portant statistical data and esti?
mates of future earnings, which
should prove of interest to in?
vestors.
Booklet A G-3 on requtst
Miller, & 6o.
M.emher3
UenJYork Siock. PxcJaends
?2OBR0ADUMT *
? Branch. Offices
212 FIFTH AVKNUB '
3.WCUR 26-flTR.tfT
?ONGACRE BUILDING '
tlE??R.42n<t Sr d- BROADWAY
NEWARK.
Nat'l Bank of Commerce
American Meter Co.
Atchison & Eastern Bridge
McCLURE, JOKES & REED
Jtimkri lf*u> Yttrx BtooK f?vh**tt
116 Uroad.way IMiour 8381 K?ctor
i Industrial Slocks
Resist Pressure;
Raus Irregulai
?
Bet!er Class in This Groii]
Move Higher, hut th
Weaker E?ouds Declino
Strength in Covering
-,
Lacking tho Btiraulus of an importan
' now development in the* world outside
tho stock market yosteWay yielded nl
meist exclusively to-internal influences
The vicissitudes of tho day's fluctua
tions were confusing. Movements evei
among closely related groups of secu
' litios wore contradictory, and the ir
regularity that prevailed vitiated the
; day's transactions as useful indication
; of tho futuro trend in industry.
What strength was revealed was cs
scntially of a defensive character. Floo
traders attempted several assaults 01
security prices, and, although some o
them moved lower, the industrial stock
held up against the attacks fairly well
The impulse to rise, however, which re
fleeted insistent short covering for sev
??ral days, yesterday plainly became
weaker.
In the railroad department there wai
a more clearly defined cleaverage be
tween the securities of high grade road
r.nd those of the carriers of loss favor
able standing, tho former rising and the
latter declining. The collapse of the
common stock of the Texas & Pacifie
( ompany was the immediate cause o
i ' 't.tlement which radiated in varioui
directions. Tho stock, which on Tuea
ci?y eioscd at o7'.s, yesterday tumblee
to 23^4, and then recovered to 25Vi
Many unfavorable rumors accompaniee
tho dramatic shrinkage of the marke'
va uc of the security, but all of then
were subsequently denied by an officei
of the road.
The a tion of the stock indicated thai
the bears regarded it as in a feeble
speculative pe sition, and consequentlj
raided it. Short selling depressod thi
issue to a level where innumerable sto]
orders were rele? d, and tho gains o?
many weeks were quickly effaced in ;
! few hn\trs. The previous low for tin
? year was 25, and tho high ... IT Pro?
fessional operators for t e decline have
been in quest of vulnerable places ir
' the railroad ?ist, because of its steadj
: ; e since mid Stimmer.
Simultaneous with the decline ir
Texas & Pacific, Reading moved con
spicuously in the opposite directior
and rose above 100 for the first time ir
three years. The swings of tho stocle
thus far this year have been exceed
; ?ugly wide, and tho latest upturn was
b? sed on the suggestion that furthei
developments in connection with the
cation of the coal property was
imminent. Despite the action of Read?
ing, commentators on the market ir
c >mmission houses became move di?
vided in their opinions as to tho im?
mediate future of tho rails and not ?
few who had been recommending them
enl usinstically ever since the rato in?
crease advised profit taking and some
. became definitely bearish for the shorl
' pull. As for industrials, the recent
temporary strength has originated
from short covering mainly, and the
outlook for the next few days is re?
garded as uncertain.
In the commodity markets tho work
; ing of familiar economic forces caused
! recoveries from the le>\v levels atta.io.ed
earlier in tho week. Holders of cot
f n grain and corn became less in?
clined" to raise their products at pre?
vailing quotations and shorts had, to
bid thorn up some in order to covet
their commitments. Tho speculative
; sellers became somewhat reared over
the recommendations of Governor Al
i i-, if Kansas, in respect to Invcstigat
: ing bear pressure at the Chicago Board
of Trade : nd also regarding the limita?
tion of imports of wheat from Cai ada.
, In the three principal groups of specu
. lative commodities, quotations showed
| gains for the day.
Money and Credit
Tall money renewed at 7 nor cent yes?
terday, advanced Mer to 8 por cent and
got down again to 7 por cent at the
e oso. There was a d-- reased demand
for funds at the higher rate. Further
government withdrawals from the b nl? :
to-day will total approximately $9,000,
000. What time money is coming into
the market is readily placed at S per
cent.
Yester- Year
day, ago.
On mixed collateral.... 7 7
On industrial collateral 7 7
Time money (mixed collateral): _
Sixtv days . ...8(o SVfe 5% '? 6
Ninety days .8 f? ' ' ?- ?
Four months .S ??'.: o
Four to six months.H <*'-.? B%?6
Bank Clearings?Bank clearings at
New York yesterday were: Exchanges,
$732,761,651; balance, $71.270 404.
Silver.London, 56%d; New York,
domestic bar, 99M?c; foreign, 88%c;
M? xican dollai-s, 67%c.
Sub-Treasury- United States fund
reserve credit balances, $57,729,600.
Canadian Exchange?New York funds
in Montreal, $90 premium per $1,000;
Montreal funds in New York, $82.57
discount per $1,000.
The Dollar in Foreign Exchange
Pronounced weakness in exchange
on Italy supplie 1 tho outstanding de?
velopment in tho foreign exchange
market yesterday. Lire broke' to a
new low recor? of 3.90 cents, com?
pared with a closing of slightly better
than 4 cents the day before.
Sterling and franc exchange were
slightly easier on quiet trading.
(Quoted in dollars to tho pound)
Yester- week
day. ago.
Sterling, demand -$3.4950 $3.47
Sterling, cables . 3.5025 3.4775
Sterling, sixty days... 3.4550 3.43
Sterling, ninety days. 3.4350 3.41
(Quoted in cents to the unit).
: Francs, checks . 6.665 6.66
Francs, cables . 6.675 6.07
Belgium, francs, cks. 7.06 7.05
Belgium, francs, cbls. 7.07 7.06
Lire, checks . 3.90 4.17
Lire, caldos . 3.91 lis
Swiss, francs, checks 16.04 16.03
Swiss, f?anos, cables 16.07 16.06
j Marks, checks . 1.56 1.62
'Marks, cables . 1.56 1.62
?Guilders, checks _ T>1.00 81.10
Guilders, cables _ 81.125 31.20
I Austrian, crowns, cks. .39 .44
j Austrian, crowns, cba. ..'in .14
Sweden, checks .... 19.85 19.90
I Swollen, caldos . 19.95 20.00 i
Denmark, checks _ 14 01 14.15
'Denmark, cables .... 14.06 14.20
I Norway, checks . 14.03 14.15
Norway, cables . 14.08 I 1.20
Pesetas, checks . 14.64 1 1.66
Pesetas, cables . 14.68 14.70
Greece, checks . 1') 30 It) 25
? Greece, cables . 10.40 10.25
1 Manila, che< ks . 46.50 46.50
Manila, cables .41 10 47.00
India, rupees, checks.. 32.60 33.00
India, rupees, cables.. 33 10 :!". 25
Japan, yen, checks., 51.00 61.25
Japan, yen, cables... 61.25 51.375
Argentina, checks ... 83.00 84.625
Argentina, cables ... 83.25 84.875
Brazil, Rio, chocks... 17.50 17.625
Brazil, Rio, cables... 17.625 17.75
Ozecho-Slovakia, cks.. 1.34 1.36
Czecho-Slovakia, cbs.. 1.34 1.86
Paris Market Heavy
TARIS, Oct. 6.? Prices were heavy
on the Bourse to-day. Three per cent
rentes, 63 francs at! centimes; ex- -
chango on London, 52 francs 4M con- ,
times: fiive per cent loan, 85 francs!
90 centimes. The dollar was quoted j
at 14 francs 95V? centimes.
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings
(Copyright, 1920, Now York Tribune Inc.)
Hay Tear January 1 to date.
Trsterdnv. before. ago. 1920. 1019. 191?.
Railroad blocks . 419.(500 362,700 401,200 32.140.300 48 103,700 23,691.800
Other stocks . 398,300 534,400 1,152,500 137,119,100 180,991,200 78,656,100;
All stocks . 817,900 897,100 1,553,700 169,265.400 229,154,900 102.347.900;
Yesterdnv. Day before. Year neo. 1920. 1919.
V. S. (tovernment bonds.$9,484.000 $11,556.000 $10.106,000 $2,223,967,000 $1,916.416.000:
Itnilroad bonds . 2,214,000 3,163,r00 991,000 305 846.000 281,591.000
Other bonds . 4,411,000 5,517.000 1,672 000 279,961,000 296.311.000
All bonds . 16,109,000 20,236,000 12,769,000 2,809,768,000 2,497,318,000.
Record of Stock and Bond Averages
(Copyright, 1920. New York Tribune Trie.)
Stock!? Ktin?*e ?Tins Ranee full
Tester- Day Year far 1920. year 1919.
dav. before. ante. Tlitrh. I,ow. FTiyh. Low.
20 Railroad slocks . 72.85 72.00 70.60 73.25 58.CO 78.80 63."'S
?0 Industrial stockt . 86.CO 86.20 115.10 110.30 82.53 119.33 79.20
50 Stocks . 80.80 80.80 97.30 92.05 74.46 99.54 75.92
Bonds
10 Rnilrond bonds . 76.14 76.58 78.92 76.58 66.73 82.80 72.83
10 Industrial bonds . 84.31 84.31 93.56 91.45 82.92 95.70 90.56
5 Utility bonds . 71.02 71.68 79.95 74.53 67.64 87.75 71.80
25 Bonds . 78.67 78.69 84.98 81.71 73.94 87.91 80.21
Hirh.
1920.
88%
2*?
3
03%
95
62 i ?
10 ' 4
93
12834
6134
101
1473;,
54%
15%
175
122
1191 2
99%
109! 4
1778
30' j
72
10C i
115?4
50
931'2
142%
1C63.1
100%
?83
210
1651 2
6l3/a
2134
66'2
23
6%
C7| 4
85%
?2
12%
10,1 2
2O/4
1481 2
49
53%
43/2
15'',' ?>
3?-'2
102'2
114
96%
17
13/4
8'2
11' 2
29/4
27! 4
28%
*S%
134
1934
IO434
61%
164?4
08%
17
2334
15
17'4
14' 2
65
91'2
111%
41%
71' ?
84%
72! ,
62
21/,
4.: i ,,
4C%
*4! 4
1fi%
?f.' 2
67
937a
2C%
14' -,
Low. niT.
1920. Rote.
36% 6
il/4 ?
28 1
75 8
57
70% 8
30 6
63% 10
3C% ?
85'2 7
124% 12
22% ?
9
95
53'4
64', 2
80
82
11%
16%
52%
83
Open. Bien.
Ajm Rubber . 400
A Inulta Gold Mines.. 2400
? Alaska Juneau . 300
1 Allia Chalmers . 400
8 Amer Agr Chem. ... 200
? Allied Chem . 2600
86
85
99
74':
92' ;
104' ;
102
70
38
11
49','
7
2
23
76
72
5
Amer Heet Simar- 900
du rf. 1c0
Amer Bosch Mag- 200
American Can . 700
7 do pf.'. 400
2 Amer Car X? Fdry. . .
? Amer Cotton Oil. . .
.80 Am Drug Syndicate.
6 Amer Express .
7 Am Hide & L i>f
6 Amer Int'I Corp ....
7 Amer LinsrVd pf. . . .
6 Amer Locomotive . . .
? Amer Safety Bnzor .
? Amer Ship & Com..
4 Amer Smelting . 14900
7 do pf. 200
8 Amer Snuff. 200 100
Amir Steel Fdy. 600 36'
do pf. 100 85'
Amer Sugar . 4700 104?
Amer Sumatra- Tob. . 900 89
Amer Teleg & Tel... 1300 98T
Amer Tobacco . 2100 140'
300 13334 133% 133% 133%
1200 23' 2
2200 9%
200 145
800 60%
7900 74'3
100 84'/2
14C0 95
1600 1?%
1500 18
'4
1431/4 143%? 1% I44
141
100
27%
40's
35
114
4 Vz
67%
103
83
9%
6',,
16
10
10',;
CI
no
8
43'
33?
74
47
f>
12
4
?]%
7
19%
?r| .j
4534
74! i
23/2
54
64
CS
4
10
4
do pf n .
Amer Woolen .
Amor Writ Pnper pf
Amer Zinc .
Anaconda .
Ann Arbor .
Assets Tienl Co.
Associated Dry Good?
Atch, Top & San Te.
do pf.
Atl, Birm & All
Atlantic Coast Line. .
Atlantic Fruit .
Baldwin Loco Co.. .
Baltimore & Ohio. . .
do pf.
Rarnsdall B .
Barrett Co .
Beth Motors .
Beth i'tecl. Class B..
do 8% pf.
Brooklj 11 Edison ....
Bkb n Rap Tran_
do ctfs .
Brunswick .
Butte Con Ai Zinc. . .
Ilu'lf Ai Sup Copper.
Butterick Co. .
Caddo Oil .
California Backing. .
Canadian Pacific. . . .
Cai? Blow .
Centra] Leather ....
Cerero de Basco.
Chandler Motors ....
Chesapeake & Ohio. .
Chicajro &. Alton....
do pf.
Chic & Fast 111 .
do pf.
Chic Gt Western. .. .
do pf.
Chic, Mil & St B_
700 134% 136 I341/4 13434??
900 73', a 73! 2 73 73%?
200 54 54 54 54 ???
400 12 12 12 12 +
2400 02% 53% 52% 52%?
203 23 23 23 23 4
400 5 5 4', 2 41/z?
400 28'.'2 29 28'j 29 f
2700 8?% 83% 87'4 88%4
500 78 78 77% 77% +
1400 11% 11% 11 11% |
900 9C" 8 97% 98 98 ?
700 19 19 18% I8%?
14600 111% 111% HO/4 110%?
4700 47% 471., 46i _. 47% +
700 53% 53% 531/2 5:.-!4 f
200 38 38
700 128% 129
600 4% 5
1C600 71% 711
700 105 105
1/4 1341/2 135
38 38 -
128% 129 ? 1',
10900 128' 8 123% 127
200 11 11 10
2400 44 44% 44
900 40 41 40
1C00 73'4 80 78
2400 67% 68 67
200 16 16 15'
200 22% 22% 20
400 12 12 12
700 12% 14% 11
4600 13% I334 12"
1900 31' 4 31% 30'
14100 43% 43% 41 =
do pf. 3200
V/2
1(5'.
43:
278!
G H
106
5&%
85 .-.
263' 2
9
lt%
101
8
12%
147
102
21%
30%
223/4
95
91%
44%
48
36' 2
' B
100
172
42
L0'4
93
85%
9034
41%
SS! a
1734
35%
84%
20' 2
78' 4
16
46%
1 16! ?
23%
33%
??5' 2
9%
61%
5%
16%
142%
51%
111%
71
91%
75%
47/4
2634
S2
13%
7'4
21%
44'4
27'4
52%
1d2; 2
1%
33' 2
48' j
91%
46
24%
40
38%
54%
207
36
2s
112! '
151%
?
?6
30' 2
30
63'2
3 ;..
62%
137! 2
222
23
71%
52%
21
90%
11
18
313a
55%
40
09%
86%"
98
42
12%
24%
30%
23
20
18
50
73%
9
10%
76%
30
II5/2
36! 2
Chic & Northw'n. . . .
Chi Pneu Tool.
Chi, Rock Isl & Pac.
c?o b=>0 pf.
do 7% pf .
Chi, Si P, M & O..
C, C C & St Louis. .
900
400
16400
1700
400
200
200
1
4
2"
8
7
7
7
10
Chile Copper . 1600
Chino Con Copper. . . 700
Coca-Cola . 600
Col Fuel Ai Iron. 100
Col Ai Southern. 800
Columbia Graph _ 1900
Col Gas Ai Elcc. 900
Consolidated Gas ... 4000
Con lnt'1 Cal Min. .. CCO
Continental Candy. . . 700
Corn Products . 15C0
Cosden & Co . 700
Crucible Steel . 14C0
Cuba-Amor Sugar... 1CC0
do pf . 50
Cuba Cr.ne Sugar . . 160C
do pi. 400
D, L & W .
Denver Ai Bio Grande
37%?
reo ?
100-243' 2 243! 2 24
900 2/, 21/2
65%
80
2)
193.8
58%
80! 2
134
10! a
64%
76
43
65%
30
2?,
7
25%
41
15
50
14' 2
21%
75
13
29
80%
6' -,
43%
5
8%
111%
18%
70! 4
60
62! 4
70
30' 4
13%
? do pf. 1600 3' 4
8 Davidson Chem . 100 38
? Dul, So Sh & At... 700 7%
? do pf. 200 11
? Elk Horn Coal . 500 22%
5 Endicott-Johnson . . . 1400 67
7 dp pi. 1C0 94
? Erie . 4600 19%
? do 1st pf. 3900 29%
? do 2d pf. 2C0 21
8 Famous Players .... 700 71%
8 do pf. 1900 85
7 Fed Mln & Srnlt pf.. 203 33%
3 Fisk Rubber Tire _ 240"? 2i ' n
? Fraport Texas . 100 22' ,
6 General Cigar . 1400 64%
7~ do pf. 100 12
8 General i'.lcctric ... 1600 142
1 General Motors . 20100 18%
6 do 6% deb . 1700 G5%
<!o 7% pf -?. 600 77
6 Goodrich, B F. 7C0 50%
7 Ct Northern pf. 6900 87%
4 (it North Ore subs... 1600 33%
% Greene Can C?pper. 4C0 28
? Gulf Mob & Norih.. 400 16
do pf. 400 34%
? Gulf State Steel. 700 50%
2 Cuan Sugai . 100 17%
4 Hask &. Barker Car. 400 C7%
1% Hnbirsh?w F.lec _- 15%
? Hcndce Mfg . 600 22%
? Houston Oil . 3600 106
141% 142
183,4 13% j
2 61
50'.
?4+
1 Hupp Motor* . 2U0 14
? Hydraulic Steel _ 1C0 29
7 Illinois Central ... 700 94*i
,60 Indiahoma . 600 7',
4 Inspiration Copper 140O 46' \
? Inter-Cons Corp . . . 2100 5
? do pf . 900 15
7 Inter Harvester _ 300 115/
? Int Mer Marine .... 1200 21'.
6 do pf . 1100 76
7 Int Mot Truck 2d pf 300 60
? Inter Paper . 2400 77
6 do pf stpd . 1100 74
? Invincible Oil . 2100 35';
-r Inter Nickel . 2700 18^,
6 do pf . 100 82
? Iowa Central . 200 11';
Island Oil . 4600 61,
Jewel Tea . 300 4r>.
do pf . 500 11
Kansas City South . 4600 27
do pf . 800 503,
Kelly Springfield . . 1400 56'
% ? do rU . 1200 1' .
2 Kennecolt Copper 1900 24^
1.20 Keystone Tire . 1600 14-';
6 Lackawannn Steel . . 700 64
? Laclede C.n . 4C0 4 6
? Lak? Erie & Western 1400 22
? do i>f . 2100 40
2 Lee Rubber & Tire.. 100 21
3% Lehiffb Valley . 800 53
12 Tig & Myers Tob Co 200 145
2 Loews, lnc . 900 2114
? I.oil Candy . 300 13
7 Louisville & Nash... 300 107'
10 Manat? Sugar . 300 92'.
134 Manhattan Shirt 200 21'
7 Manhattan Elevated.. 2300 54'
2 Martin Parry . 200 20'
? Maxwell Motor Co... 400 47
? do 1st pf. 200 11
? do 2d pf . 300 5',,
? do 1st pf rtfs. 200 10
8 May Depart Stores.. 100 72
Mexican Petroleum.
2 Miami Con Copper
1.60 Middle Slates Oil..
46'
%
5/4 ?
3%V?
7% ?
13% -
40 4
52 4
12%
60
1S34
39%
130
13%
11%
94
88
20
38] 4
13
3%
8' 4
4' j
9%
69%
148
18%
10%
37% 4
9 ?
63 7
3% ?
7 ?
21 ?
30 ?
25% -
59 3
44 ?
83 7
12
Mid? ale Steel .
Minn & St L new . .
Minn. St P & 8 S M
Mo, Kansas & Texas
16470 187% 189!
1400 19% 19!
8930 16;4 1C5
2100 33 4 39
3403 20% 20'
100 87 87
14600 5'4 5'
do pf . 12100
Missouri Pacific
10400
do pf . 3900
Mont Ward &
Montana Power
National Aniline
do pf .
Co
200
400
1700
200
H ich
1920.
13
e%
17! 2
6?i a
117
79?/a
54
65
43'. 2
61
37/4
27:' 3
25
1C3! ?
821 4
77'4
22%
6%
9%
41%
23%
61'/4
41
116%
111%
431.4
- 36' 4
183/4
.42
32
68
42'/2
82%
103' j
98
72?/4
50%
3914
Low. D?t,
1920. Unte.
C'a
41-4 ?
10I/4 1
31 ?
88/4
64'4
23
10
'4
45
20
44' 2
231 2
16
15
85
66%
38
14
2'a
5
1
7
7
10'4 ?
26' 2 2
41 ' 4 5
40 ?
6
6
3
27%
113%
120
106( 2
0??
96? 2
47%
50%
124%
106%
r.b'4
93' -,
123%
83%
21%
17%
Si.; a
48| 4
40
45%
11%
20%
243
90/4
4334
82' -4
105%
310
331/4
66! 2
830
1'3%
51'/-.
1.81/4
-?< Va
101? 2
60
20%
13%
53%
i <l7
19%
Nat Ton & Cable . .
Nal RR of Me-x 2d pf
Nevada Consol Clop . .
NO, Tex & Me* ...
New York Air Drake
New York Central . .
N Y, <'hi & S L
do 2d j)f .
New Yeirk Dock ....
ele) pf .
NY, N IC t? II.
N Y. Ont & West . .
Norfolk South .
Norfolk & Western.
Nor'hrrn Pacific . . .
Neva Scotia Steel . .
.50 Nunnally .
.40 Okla Prod & Kef .
Ontario Silver .
Ol is Steel .
Orphcum Circuit . . .
Pqc Goa & Elcc ....
Pac Tel & Tel .
71% 6 Pnn-Amer Pet -
67% 6 do U .
37% 3 Pennsylvania Rail
16 ? Penn Seal) Steel ....
9 ? Peor?a & Eastern...
27 ? People's (,11:1 & Coke
22 ? Perc Marquette ....
66 6 do prior pf.
301/2 3 Philadelphia Co -
3'! ? Pierce Arrow .
881,4 8 do pf .
11 ? Pierce Oil .
79 8 do pf .
51 ' 4 5 Pittsburgh Coal ....
36 ? Pure Oil .
21' 2 ? Pitt* & West Va.. .
'7- % 1 rone' Creek Coal....
8 1 8 Pressed Steel Car...
8 Punta Aleare Sucar.
8 Knilvay St>el Spring
1 Kay Can Copper. . . .
4 Reading .
2 do Is! pf.
2 do 2d pf.
6 Rep Iron & Steel_
7 do pf .
Rep Motor Truck . . .
Replcgle SteeJ .
.50 Royal Dutch .
5 Savnir
2200 101% 103%
13'
4
94% IOOI/4
' ? ? ' 2
944 2 S51 2
14% 15'. a
34% -
6S! ?
21%
4%
1/11 2
15%
23! 2
11
?4
10
112
45S-?
23' ',
59
80! ?
1C0
18
CO
600
100';
267.
33
127
63
.r-3
224
29%
?3' 2
78%
116%
( 9 !'4
96! 2
'<? I '4
76
1C9
1 IBS/,
-? ;
12 Va
07
S0| 4
112?/a
120! j
21
?9
15' 2
22%
40] j
75
80'.,
119
55?/a
82' 2
16
93
9-' 4
50
53' -2
86
41
17
9 ?
40 3
20', 2 ?
36
9' '2 ?
18% 2
57 6
70; j
85%
110
61'/4
3b? >
176
10
12%
<6 R
40 ?
5!) 3
74% 8
DO 6
83% 5
0
104 8
75 6
11% 2
16 ?
7 ?
20! 2 ?
8% ?
11 ?
20' 2 -
54% 6
80% 7
98 7
: ' , 4
46 5
9 ?
42'
10
55
24
Arms . 200 28
Saxon Motors . 200 5%
St Joseph Lead. 300 14%
St I.ouis & San Tran 81C0 33
do pf . 900 47
St Louis Southwest.. 39C0 37', 0
do ?>f . 2700- 42%
Seaboard Air Line.. 1900 11%
do pf .'. 1500 19%
Sears Roebuck . 1100 115%
74 Shell 'Irans & Tr... 1400 52%
' Sinclair Oil . 4900 32%
Slosa-Sheff SI & Ir. . 500 65%
Southern Pacific ... 14900 99' a
So l'orio Rico Su?r. . 100 115
Southern Rail . 18300 02%
do pf . 700 65%
Stand Oil . 50 025
do pf . 2900 105! 1
Stewart Warner _ 709 31%
Stromberg; Carb ... 2700 71
Studcbaker . . :. 12100 ?8%
do pf . 200 86
Superior Steel . 100 51
Superior Oil . 200 18
Tenu Cop & C'hem. . 2:0 9%
Texas Company .... 27109 51%
Texas & Pacific .... 60000 37%
.25 Tex Pac Coal & Oil 700 37?%
? Third Ave Rail _ 200 17
2%. Times S y Auto .... 300 20%
6 Tobacco Products .. 1000 60'6
? Toi, St L & W ctfs 100 17
? Tran ron Oil . 2000 12' a
1 Twin City Kap Tran 100 30
8 Union Bag & Paper. 2 3 .OS
? Union Oil . 900 27?/;
10 Urfion Pacific . 4600 126'.'
4 do pf . 200 G '%
5 Un?(< i Alloy . 7C00 37' ;
12 United Pruit . 200 203
I'nil d Ky Invest pf. 2C0 27'/
? US C I Pipe & Co 100 14ft
6 i; S Food Products. . 1830 51ft
8 V :-: Ind Alcohol_ 1400 84
!' S Realtj & !:>ip. . .000 52
United Retail Stores 6700 73-,
8 US Rubber . 6100 7S1 ?-,
6 U S Smell. & Ref. . . 900 57
5 United States Steel. 19000 8P0
7 do pf . 700 107 '
6 Utah Copper . 1600 61'
? ' loh Secur Corp.... 4900 12'
6 Vanadium Steel .... 2/00 C3 '
4 Virginia-Cm Chcm . 400 39-!
5 elo' pf . 10 I0!
6 Va iron, Coal & Coke 100 112
2 Vivoudou . 200 12;'
? Vulcan Detinning .. 100 16
? Wabash . 4600 13
do pf A. 7100 33'
Western Maryland . 1900 14!
e!o 2d pf . 900 20!
Western Pacific ... 2100 36?
do pf . ?00 75
Western Union Tel. 300 84
Westing Air Brake. 200 100
Westinghouse Mfs 7C0 47
Wilson Co . 600 52
Wheeling & LE ... 2600 15?
do pf . 203 26?/
4 While Motors . 700 46
1 Willys Overland _ 10900 11'
7 do pf . 700 63
6 Worth Pump & M. . 700 60
4 Wickwire-Spcncer .. 200 28'
1%
? 9
104% 105' h-i- '
51!
73
1/4 W/s 107%
6%
?4
'/a |
Mix dividend.
Bid and A:
ske,
Adams r.x
A : It un Ij
Alb a Su
Ai Chaliii
Am A? CI.
Del
Dei
v.
pr
Am Bnk S'oto l ?
in
do pr
? i:, i 9_
A 11 S .V l'y. HO
do pa . s |
A c sfv pr.lU.
A Cot Oil pr. t!
.... 1 !
Am lee Sec |,r 59
An La i'ranc
\ I.p ? ; !.
Am ),.
Am Mult & .
.::
.120
. ..:'
. : I
1 17
I ',
do pr
30
_, I ?
? ; & c.
Am Wli |,r. .
A a Wool pr.
Vm Zinc pr.,
Ajii 1 rbor pr.
A 1> u 2d pr 50
Asso n?
A; .i!,"..- ttef.1050
do pr . ...10S
Vl ; & W I pr 02%
A n , Sales Co ".
do pr .. . ;;
Ilaid I/?-., pr : 'i
Bari sdall ...41
ictt Lea., til
: Uth i
? i
? .-. i
51' L
]???'. & ?. L0
I miter Body. . U 0
? pr ...100
' 0 Gen n,. ni : |
'? ' . do Hr -?,
Ge i : .?
? . do pr dob. 82?
. Irl ; :
''? ". M .1
Gray Da?
15
[n< AErl pr.] ;:.
tit liai pi ; ?
S US 1st pr ',':;>4
rap,
-a i
pr
1125
10'J
li?
I
: ? pr
rett Co pr ! ?. '?? I in
Beth Stee ? ' . ? ?
" pr
!'. -i i: ' ?
B i?vn s ??
do pr
Buff It .\ V
But! ,v Su,
9fl
: M pi
l< Cltj So or!
vS
'a So
pr
M.
. 142
lo pr
I !)
Bush Term...
<? Pet pr
Ran > lutliern
Case J I
Ce t !.. i pr, pi
Can of v .1 .I'll
? 1 ... 52
C & All ?
4 N M pr. 110
Cl
Pll
CSPM&O pr. IUH
CCC & a L pr 6S
' .:.,. .
d i pr . ???'
C A s 1 ? pr i u
1 pr 15
Col Oraph pr 7 7
C nvp Ta . llec 10
? tars pr v'i
t'ont Cao pr .
: Co
C irn i".-1 pr loo
i - ? Carpet
Cru Steel pr. 1)2
Cu .vi,: Su pr 92
C i ''?1-.9 Su pr fa
Deer'e Co pr.. 92
De Beer* ... 2?ja?
;,-,
Keok
^^^?__
Kress .\: !'?
? ,-. m r
do pr . ?g
r do b ... ;%,
I. tt B 1st pr ??',
do 2d pr
;,
M Coa
i.Man ! . ...... -,
1*4 Mar Ko,
'?? ' UV, . 31
' St. 7"
do pr . 95;
V ? Pet pi
\1
US '? ?:? ?I pr 0 .
I
M ? Pow pr 01
?l?i .... 1., ..?
M . Uns By pr 93
Vash & ( it.]
It 105
do pr . 106
tl & S ?
do pr ;.,
S 1. & s pr !
?' ?' I : p 102 2
XVC&.SI, isi
150
100
145
I II
115
? ? .
110%
110
?a
?.' ? 1
S V L A
Sott & \v
?
do pr
13 1H
125? 12S
8%
90 OtU Steel i>r. ? loi
Bid. Asked i Bid. Asked.
ii?. ; Bot pr .-> ii"' Sup Steel pr '. .'va 98%
I'll 11 . i'.,. I. -.-, -Pi , T nil.ir . SS 41
: ; p. . 4". 00 : T a l' PI tr '.'.,:. :..-,
1' ? Mall 27 30 Tidewater Oil i05 230
Pa Tel .'- T 40 4 1 Tob Prod pr su 90
1' .a BIng 2? 29 T S 1, & W 15 20
l'cliu .1 (1 pr. .74 ss ; do pr . IS
Pi ! Uu II .. 35 40 Twin City It T 30 4j
do 1st pr . 92 115 ' do pr .... 63V4 si
I" ? Oil pr. 8 ? S3 Cnderwood T.1?0 179
I'll . Steel pr. B5 U L'OVSi do pr .102 J?7
1' ,v W Va pr 7.,'.j ni l'n finar Si. IV. 200
Pr -i Car pr 9,S 99 do pr . 97 104
!' S C N ,1 . ' s 70 United Drug, .105 110
P.y St Spr pr.l03ii 1!') ?'? ?? is' pr .. 14T? 4".
:. i I Mi: ?,. 22 24 CSCIF& F or 41 42%
It< iding ; i pr I . ? ? 46V? l S Express. 6% 7%
lo . ! pr . I-? 4s I' S l Al pr 93>.? 93
Reis & Co.., ?'i '."? V ii K 1st pr.105% 100V4
do pr . 70 R0 ? l-.SS & It j r 43Vj i 1
Item Ty 1st pr - 95 VVabash pr B 23 23&
f?ensselaer ... ? lio Weils Fargo . 5JH 61
R I & S pr. I'l :?: West I'ac pr. 73J$ 7',
Si , . Roe pr.107 lid VVcst'se A II D9 100
Shell Tl :? VVI on Co pr K8 ]00
S S 3 & I pr 83Vi s, v\'is Central.. 42 45
s ;? |{ Su pr 102 105 vV ilw. rlh . .109 110
Si u dard MU?.115 140 do pr . . .108 107
do pr . 73% S3 WP & M pr A 79 83
Steel Tubo tir 83 87 <& do pr B_ 62% 63
Studebaker pr s'j 86
Dividends
Bute and Pay- Holders
period iihlo. of rec.
Am Cigar Co. 2 Q Wov 1 Oct 16 I
Am I.??lit & Trac, 1 Q Nuv 1 Oct 15
do Btoi k . 1 ?* Nov 1 Oct 15
do pf . 1%Q N'ov 1 Oct 15 i
Averj Co, stock...100 .\"ov 1 Oct 11
Hro?vn Shoe pf.... $1.75 Q Nov I Ocl 20
Cudahy 1'k. 7 pf cum 3% SA N'ov 1 Oct 21 '
do 6 pf . 3 SA Nov 1 Oct 21
Federal Sugar .... 1% Q Nov l Oct 22
do pf . 1% Q -Nov 1 Oct 22
Loose-Will a 2d pf. $1.75 Nov 1 Oct 1?
Sti el & i ?r $1.00 Q Nov 1 Oct 15
Milwaukee Ele K pf 1 '-? Q -N'ov 1 <>ct 20
??-?- Marq pr pf .-".:?; 1 't il Nov i Oct'lO
S II Kress & Co.... 1 Q Nov ! Ocl 20 j
f ? Worsted 1st pf l3icj <Jet 15 Oct 7
l'n Eastern Mining $0.16 Q Oct 28 Oct S
Stocks Ex Dividend
Date. Company. Per ct.
Oct. 9?American Beet Sugar Co.... 2
Oct, it?American Ice Co. l
Oct. 15?Amn Snpbldg Cu. 1% I
Oct. 1 do pf . 1%
ii.-t. 15?Famous Plyrs-I.aky Crp pf.... 3
Har?blson-W Rfrc Crp pf-. 1%
Oct. 8?Inspiration (',.113 Copper Co... 1
Oct. " Pittsburgh Coal Co, Pa. 1?4 <
Out, 8? do pf . 1% ;
Oct, IE.-Republic Iron & Steel. )% '
Oct, 15?Va Caro Chem . 1
London Monev Market
LONDON, Oct. G.?Bar silver, 567s?l
per ounce; bar gold, 117= Id; money,:
?1:!( per cent;, discount rates?short
bills, 6:i?6l-s per cent; three mon?is'
biils, 694 per cent; Gold premium? at
Liabon, 140.00.
In Wall Street
Texas & Pacific
The violent break in Texas & Pacific
Railway shares yesterday naturally
gave ripe to an abundant crop of ju
mors that were characterized as base?
less by officers and directors of the
road. Among these were < J > thai I
Missouri Pacific had started a suit to
recover the ?unpaid Interest on the
$24,682,000 second mortgage bonds, of
which the "Mop" owns ov< r $23 600,00 ?;
i'2) that attempts to find oil
company's Tight of way had failed, and
(3) that a reorganization was b
considered which would provide for a
drastic assessment on the stock. Com?
menting on these rumors an officer and
director of the Texas &? Pacific
"The Missouri Pacific litigat on ? ?
the Texas & Pacific is an old
Missouri Pacifie about a year and a
half ago instituted proceedings to re?
cover $27,000,000 interest -, I ? Texa
& Pacific second mortgage bonds or
over 100 per cent, of the accumul
So far as the oil yarn is cone met!,
company never hud anj interest in o I
except as the lessor, and in e\
had been found along the company's
right of way it woul i bent I o
from the royalties. A reorgai
of the Texas & Pacific has n< : et even
beer, considered." The br
& Pacific shares carried their
down from 37^ to 231/i. On printed
denials of the unfavorable reports the
stock rallied at the close to 25Vi, but
this still showed a net los3 of 12 .
"Mop's" T. &. P. Holdings
The Missouri Pacific's interest in the
Texas & Pacific Railway, in ad
to its holdings of the second moi .
income bond:., consists of the o
ship of $10,000,000 of the $38,7
outstanding stock. The Missouri Pa?
cific also hoi.is $2,979,420 T. & P. 6 per
cent notes which were due June 1, 1915.
The income bonds are pledged undei
the Missouri Pacific unified an
funding mortgage. Th & P ?
cific stock and the note3 are unpl
in the "Mop's" treasury, [n ?.
discussions of a possible i
tion of the Texas & Pacific it ha
suggested that the Missouri Pacific
would be willing to accept pr<
stock for its holdings or' in
but would insist on a stock carrying
the right to vote. The only issue in
the .?i,; against the Texas & I
it is said, is to determine wheth
ultimate reorganization would pi
$26,000,000 of new preferred stoi >
a larger sum. The Texas & Pacific hi s
been in receivership since October 27,
1916.
Reading Crosses Double Par
For the first time since 1917 Read?
ing yesterday crossed double par. A.1
}v:j- i,, the high pi ice of thi
stock compared with the yeai s low of
64%. The day's net advance of 5
points was coupled with repon.
the United States Supreme Court will
make an important announc
bearing on the dissolution proce
Bankers who a e assumed to b<
versant with the pian for
the Reading's coal properties
however, that they knew of no n? w de?
velopments in this program. In an?
other quarter it ivas hinted that I ie
current move in the stock is
sponsored by one of the I lead
ing financiers. That tu.s b :.. ...- ? ?
pi edicated on the i :. ? 2 ted I ni
thai will accrue to stockh ? a .
su.i of the ??i 3olut n of com] :
was indicated a;, '..
first and ? econd prvi . o :k 1
s i er at 50' -, en : l ? par I
: : -?; time th j year and ais re
a gain for the day of 2 ] dn ?, At .<, .
he first preferred was up IV*.
Good Investment Market
The head !.. one kVuii Sir
greatest inve i hou . :
yestci day the continuance of til
rent boom in the in-. ? i . ai
for at: in;! fin !e period "Th
f funds await ing nvi a
"is of unu ually is i c pr po:
the normal accumulai
has b sn gi : ? ';, w lied by
1 by the a] pi.
Fr< rich loan maturity
turity make i at least 250
must be reinvei ted in i to 1
regular funds ava! ab! i foi
n ent " The bnr : ? wa -?? aski
the huge ovcrscription f rec
Eerin -:- did not indicate that th
ers have made the new i
tractive. "Well." he repli ?. "you
know things always look d iTerent
when you are <n the other side < f? ?
fence; in other words, it is a ca
hindsight being better than fore?
sight."
New Issues Going Well
Other important bits if cor
financing under ne ; .; at :<."i ar
pected to he put over until next
Bankers are working on several is
til the moment, announc iment if wl
? iay be expi cted aftei the Col
Day holiday, on Tuesday next i
market is stii: booming in ? i r.
ary manner, with investors i ! :
issues wll h a rush. For ex: npl . tl
?40..000 000 Swift issue forma ly o "
vesterday was quickly oversub ci
while the offering of 525,000, ?00 -
Ti unk Railway bon ; ? were ac ?
the same reception The Norwi
government $20,000.000 still s
however, as the grei t ?-,: succe ?' ny
of the current financial operations, the
subscriptions to that loan ! .
swamping the distributing
and compelling a dra tic scaling lown
in making the allotments, so that ?? n
the small subscribers did not
full amount of their applications. ?
Sears Roebuck Issue Next Week
Details of the Sears Roebuck financ?
ing, under discussion for several
are taking form, and indie
that the public offering of the new
issue will be formally announced next
Wednesday. The amount of the loan
has been fixed definitely at $50
000, bankers interested in the pr
said yesterday, and the issue wil
si8t of one, two and three year ruites,
Contrary to report, the notes will carry '
no conversion feature. They are ?
pected to bear a coupon rate of 7
cent, and to be offered on an incarne
return basis ranging between 7 and
T% per cent, according to mal
Chicago and New York bankers are
handling the financing
Italian Exchange Tumbles
Exchange on Italy tumbled in this
market yesterday to the lowest level
since last spring. Lire bills di
below 4 cents, the closing rate' being
3 00 for checks comparing with a '. v
3.73 cents reached on the break of
last April. Exchange brokers described
the market in Italian exchai
being exceedingly thin, an i
the sudden display of weakness
increase in grain and cotton bills
drawn against exports of th com
modities to Italy. The ; i
change value of the Italian lira com
?area with a normal gold parity of
i'J.3 cents.
Decline in Wheat Checked
Governor Allen's charge that short
i.ellir.g in the Chicago Board of Trade
was forcing wheat prices below the cort
of production and that farmer? should
not sell at present levels apparently
checked pressure which has been
felt in the pit for more than a week and
prices rallied close to the $2 level yes?
terday. Governor Allen said that he
would ask President Wilson for an
embargo against Canadian wheat, an.;
it was believed that higher price?
naturally would follow the end of com?
petition from this source should it
be effected. Corn was higher in sytn
pathy with the better demand in wheat
and on covering by shorts.
R
aiiroa
DO
(38 issues)
In our circular entitled
".'" t( rs Favorable to
the Railroad Bond Mar
i".to four
groups thirty-ei *]
?In id bondi
according to our judg?
ment of their investment
merits,and indicate pi
ent prices and yields
compared with the ran^e
of the past twenty years.
A number c I I -Lies
mentioned are It
vestments for trustees
and savi in
New York State.
Write for Circular ?015
Spencer Tra^k&Co.
r~ '-~?d Street, New York
ai v-iNY r< - roN rmi m?o
M anc?
Ban!dng In France
A
rd Belgium
O-ir ? I o ??: - n "ith
Lloyds and 1- :ro
vi.m tik, T ' !..
I e t e
ig facilit . -
.
in Cairo and Alex
out
ica.
Spe< ? ent f r t '
ling I sactions in Tun:*
and Algeria.
Ouf New York Agency
invit s inquiry.
Bank of
j British West Africa
1. cv- 1 o
it. K. A.rr. ? a ?. _> ?m U
?:r
h
?
The Fcrvrel ? '
Con . railroad
ds ha ;
i : ,, r J
b
hich is vital to
railroad.
Our Le ter \ l 7 ? su - -, 5t
in .' se\ " il bo ids will be
maid d ;. o;i if re quested.
Herrick &. Bennett
Mem ., . .',. :. Y?rl Si ? ,
66 BROADWAY, 1 ORK
I
BRANCH 01 ! .
51 Eaft 42n, IVrk?Win
New York City New York
-. -.. . HMtMMMMMMIMHiaMHj
L?CiO? OB?
WE RECOMMEND
! Seaboa A Air Line
Railway
1st Consol. Gold 6s
Due Sept. I, 1945
Issue $38,983 0^0. Secure
a first lien on 417 miles of road
and by deposit w th trustee or
about $40,000,000 bonds
stocks worth about $25,000,000
at present market.
P/ice about 63 & Int.
To Yield Nearly 10 j
McChire, Jones & Reed
Mem! ei s .' v ? <?
115 Broadway New Yorlc
Telephone Redor 7C62
High Grade
Pri'frrriMl Stocks
-, in which we
attively ;'. know all
about now available ;.t ex?
ceptionally attractive prices.
TED
H. 1). Kobbins & Co.
... i
61 Broadway New York
<2S& CHATHAM & PHENIX
??f NATIONAL BANK
. \%S. ' r?pli?l k Surpl?. ? '.'??????
IH?arr.| S ? ??? ??
fc.^N'. 1*9 Brca?ws?. Sint?r Si??
r? J :? . Anil IS IrMilM

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New-York tribune. [volume], October 07, 1920, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924