New-York tribune. [volume] (New York [N.Y.]) 1866-1924, October 23, 1920, Image 12

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New-York tribune. [volume], October 23, 1920, Page 12, Image 12
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New-York tribune. [volume] (New York [N.Y.]), 23 Oct. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-10-23/ed-1/seq-12/>

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_^._^;?rT'iT^4-t,-t?i|li' 'sVi' ?,?"'
Phone, Rector 500u
JosepMhal & Ox
120 Broadway, Kevr York
Vernier?
New York Stock Exchanot
Foreign
Exchange
Private Wires to
Principal Cities
H
*????->- _ fe : ?_?
H
L
apt,:
Members ot >'. Y. Slock Eicl>an_e.
11. 13, 15, 17 and 19 Broad St., N. Y.
Interc?! nllovi'd on depoi?i ?cfiiunt?
?object to cheque. Sto ... Bond and Net?
issues of Railroad an?! Industrial Com?
panies nought and Sold for cash; -..'do
B-OREIOK LETTERS OF CREDIT ISTC-I
Dealers In
LIBERTY BONDS
Brtncb 1 .'?_0 Fifth .At?. ??6 fnion ?onrire
OIHc?: j 17_ Pnnns Ht. 145 E_<?t 60i_ Bt,
18 Cour? St., Brooklya.
113 Y??r? ?t C??n*.?irtnl lani'ti
0?SES CHAIHAM&PHEMX
" |h NATIONAL BANK
?Tapit?] _ Sonet.?.SLS.OM.MI
.(???arc??.SIS*,???,?*
_?,\?< -?- Broadway, Sin.tr _>.-_
_,'j.-,.--. And IS AraJi.-?*
Central Sugar
Colorado Power Com.
Bankers Trust Co.
?VIcCLURE, JONES &REED
Afew hers New York Stock Exchange
115 Broadway I'lione 3U--1 Kertor
Advance in Wheat
On Export Buying;
Offerings Liberal
Bearish Influences Over?
come by European De?
mand; Cash Position Im?
proves; Inquiry Is Light
Export palos of about 2,000,000
bushels ! f wheat during the last two
days to Switzerland, Belgium and
Italy overcame numerous bearish
factors in the wheat market and pries
at the close were -l'/t to G!4 net higher.
Throughout the session, however, the
market was feverish and at one time
showed losses from the previous close
of 2:'? to 5 cents. The strike situa?
tion in England was considered a
serious factor in the market, which
might have a tendency to curtail ex?
port operations and to have an un?
favorable influence on international
financial conditions.
Offers of cash wheat in the South?
west were liberal and it was the pre?
vailing impression that farmers have
about abandoned their plan of hold?
ing wheat for $3.
'llie export buying served to pive
the cash position a somewhat firmer
tone and cash premiums were up 2
to li. cents from those of Thursday.
The fiour demand was slow and lead?
ing buyers seemed to be of the opin?
ion that they should be able to buy
flour at about ?r>0 cents n barrel under
the low prices experienced early in the
month despite the fact that wheat is
coniderably ubove the low level made
at that time.
In the local market Ko. 2 red and
No. 2 hard were quoted at $2.25 c.i.f.
New York.
-j-.
Argentine Wheat Crop
To Be 5.000.000 Tons
BUENOS AYRES, Oct. 21. -Official
figures show that G,070,000 hectares of
wheat have been sown in Argentina,
and that 1,400,000 hectares have been
sown to linseed.
It is estimated by T.a Enoca, govern?
ment organ, that'tins year's wheat crop
will be 5,000.000 tons and that the lin?
seed crop will approximate 1,000,000
tons.
Corn Rallies Somewhat
Despite Bearish Views
There was comparatively no devel?
opment in the corn market, but pries
K.ilied from an early decline and closed
Tic net higher. The show of resist?
ance to pressure was taken by some to
indicate thtfc the recent decline had
discounted tie bearish factors of the
situation, although it was not clear
how l'arme.-s are going to find an out?
let for their grain.
A moderate export demand was in
evidence, but sales were not larj o
enough to be much of a factor in the
situation, especially as Argentina is
shipping corn freely to Europe and
clearances from there last week
amounted to 5,664,000 bushels. The do?
mestic cash demand was slow and the
feeding situation was considered weak.
In the local cash market No. 2 yellow
was quoted at $1.09%; No. 2 mixed
n.Q8-J4 c. i. ?. New York, ten days?
shipment.
Yesterday's Previous Tear
New Torlt : ci,?s" ploie c >
No. 2 yellow.?1.09% ?i.0S% ?1.6314
May.mn ,so j 35u
''" "? ??" '" .?7% .86H i :'i4;
Out??Price changes In the bats market
were comparatively narrow, inn ;,t the
close ?'i t1'.' day values were ? c net
hierher. Stocks continue liberal and ex
port ?? have been showing a lack of
Interest, while the domestic demand has
continued of a routine character. 1'ri vs
are considered low, an 1 this served to
discourage aggressive selling, in the
locul cash market No. l white w1i<?t quoted
at H6o, No. 2 white, 65%c; No. 3 white
'??J'jc; No. 4 white, C'.'.-?-. iancv clipped
white, 70c; ordinary clipped white, 66c;
all elt vat or.
Yesterday's Previous Year
New Tor t: close clos >. u? ? ?
No 3 ? liite..?0.64Vi ?0.65 ?0 su
Chicago;
December .. .63% .52'.? .71'.?J
> -ay .68S -JS .73%
Bye?Market firm.
Y. stcrday's Trevlous Year
New York ? ! imp. close, ago
No. 2 West... ?1.97% ?1.94 ?1.52*4
Flour awl Men]?Quotations were:
V.".'. :.i;. ,s Previous Year
close. cluse. ago.
Spring patent :
?10 75^11.25 10.7SQill.26 12.15(g) -
Cornmeul.
3.2J? 3.60 8.?5? 8.36 3.6.0? 3.60
Hy? flour:
9.00(9i S.50 9.OO? ?.80 7.25? 7.50
Bra* 41.009- 41.00 0- 44.00?
Stocks Act Well
Despite Advance
In Money to 10 Pet.
Temporary Development
Due to Government With?
drawals Fails to Depress
Prices on the Market
Rorrowcrs of call money at the
! Stock Exchange paid 10 por cent in
the late session yesterday after re
! newals had been made at 7 per cent.
| This rise in tho rate for demand loan
accommodations, while plainly a tem?
porary development due to the
extraordinary demands made upon the
j banks this week as a result of large
; government withdrawls, supplied the
j focature of the day in Wall Street.
? The stock market stood the test of ad
j vnncing money rates well, however,
? and despite the fact that it had to
! contend with the strike news from
London as n continuing adverse in?
fluence, stocks at no time displayed
weakness. There was, it is true, much
irregularity and the trend was in?
definite, still the offerings were not
1 envy. The chief effect, of the com?
bination of bearish influences was to
1 restrict trading operations, nnd deal
ings fell o;V rather sharply.
In view of tho widespread tnlk of an
impending cut in iron and steel
' prices, the Street manifested much
interest in the address of E. H. Gary,
. of the United States SI ?! f>rpornt? ;i.
before the members of the American
Iron and Steel institute. The head of
the largest steel manufacturing organ?
ization in the world is usually opti?
mistic of general conditions, and his
speech of yesterday sounded a hope
? ul note, as usual. Mr. Gary's re
I marks relative to the steel industry
itself were not construed so favorably,
, however, and there was some selling
?of steel shares on the assertion that
| some adjustments in prices would
! have to be made as a matter of
: course. The downward movement of
the steel shares was not pronounc id
and it looked like an ineffectual ef?
fort of the professional traders to in
! ducc general selling in horics of de?
pressing prices all along the line.
With regard to the strike situation
;n England, the cable advices indicated
little or no chancre, but the London
market was cheerful, and this was ac?
cepted on this side as a good omen.
One of the favorable developments in
the domestic market yesterday was the
remarkably quick oversubscription of
( tho new $25,000,000 Danish government
loan, which investors took with a rush.
With all the hesitation existing in the
speculative security markets, the de?
mand for prime investment issues con?
tinues extremely strong. This is one
of the best aspects of the financial
markets at the moment. Foreign gov?
ernment leans have gone especially
well of late, and it is expected that
further offerings of this character will
be made in the near future. A Brazil?
ian operation running into fairly large
figures is looked for next week.
The foreign exchanges, which had
been unsettled the day before by the
strike news from the other side, dis?
played a better tone yesterday, with
sterling rates holding about steady.
Cotton prices in this market showed a
tendency toward recovery, while the
grain market was steady, with a rally
in wheat. The run-up in call money
rates, while unexpected, occasioned no
great surprise in quarters where the
local banking situation is well under?
stood. Government withdrawals this
week have been unusually heavy, neces?
sitating some calling of loans. This
situation is expected to correct itself
next week, however. Investment bank?
ers .sec a tendency toward the accumu?
lation of funds in country banks as a
result of the general business contrac?
tion in the broadening demand for
short-term notes.
-?
Money and Crcdi?
Call money rates under a heavy de?
mand for funds from brokers yester?
day jumped to 10 per cent, after re?
newing at 7 per cent. Heavy govern?
ment withdrawal this week was con?
sidered the main cause of the strin?
gency, although the effects of the
heavy October 15 operations are still
being felt by the banks. Time money
was unchanged.
Yes ter- Year
day. n'/,o.
On mixed collateral. .. . 7 6
On industrial collateral. 7 0
Time money (mixed collateral):
Sixty davs.8<4 K>_ B%@6
Ninety days.8@8% 5%@6
hour months.8@8% 5%@6
Four to six months..K.'.-rSVa 5%(tt}6
Bank Clearings?Bank clearings at
New York yesterday were: Exchanges,
|831,118,C07; balances, $80,800,050.
Silver-London, 52%d; New York,
domestic bar, 99',_c; foreign, 80V_c.
Mexican dollars, Gl'.ie.
Sub-Treasury United States fund
reservo credit balance, $75,2-10,883.
Canadian Exchange New York funds
in Montreal, $100.87 premium per
$1,000; Montreal lands in New York,
$90.55 discount per $1,0:10.
The Doilar in Foreign Exchange
More hopeful advices from London
yesterday relative t?> the strike situa?
tion in England had a steadying in?
fluence in the foreign exchange mar
! ket. Sterling sight drafts closed at
$3.44%. Francs were practically un?
changed.
(.Quoted in dollars to tho pound 1
Yester- Week
day. ago.
Sterling, demand .$8.4 125 $3.4650
Sterling, cables . 3.45 3.4725
Sterling, si>:ty days... 3.4025 3.4250
Sterling, ninety days.. 3.3825 3.4050
(Quoted in cents to the unit)
Francs, checks . 6.465 0.50
Francs, cables . 6.475 6.51
Belgium, francs, checks 0.83 6.84
Belgium, francs, cables. 6.84 6.85
Lire, checks . 3.74 3.91
Lire, cables . 8.75 3.92
Swiss, francs, checks... 15.77 15.87/
Swiss, francs, cables.... 15.80 15.90
Marks, checks . 1.42 1.43
Marks, cables . 1.42 1.43
Guilders, checks . 80.625 30.80
Guilders, cables . 30.75 30 90
Austrian crowns, checks 34.50 37.50
Austrian crowns, cables "!.,"><> 37.50
Sweden, checks . 19.45 19.58
Sv\ I n, cables . 19.55 19 08
Denmark, clucks . 13.33 L3.80
Denmark, cables . 13.88 13.85
i Norway, checks . 13.70 13.65
Norway, cables . 13.75 13.70
: IVs. tas, cl ecks . 14.11 1 ;.:?:?
; Pesetas, cables . 14.15 14.39
? Greece, checks . 10 05 9.70
Greece, cables . 10.10 9.80
.Manila, checks . 46.50 46.50
1 Manila, cabl? s . 46.25 46.75
India, rupees, checks... 30.00 "0.00
India, rupees, cables... 80.25 30.25
Japan, yen, checks.... 51.00 51.125
Japan, yen, cables. 51.25 51.375
Argentina, checks . 78.875 82.145
A ?"na. cables . 79.125 82.375
"-? - ? . Rio, checks . . 17.oo 17.25
Brazil, Rio, cables. 17.125 17.475
Czechc-Slovakia checks. 1.2-1 1.31
Czechc Slovakia, cables . 1.24 ? 1.31
Paris Market Firm
PARIS. Oct. 22. Prices were firm on
the Bourse to-day. Three per cent
rentes, 54 francs 75 centimes. Ex?
change on London, 53 francs 33 con
times. Five per cent, loans, 86 franc
45 centimes. The dollar was quoted at
15 francs 46% centimes.
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings
(Copyright, 1920, New York Tribune Inc.)
Dny Yenr Jnntury 1 to date.
Yesterday. ".tefnre. ngo. 1?_0. 1111. 1918.
Rnllroad stock? . 120,400 132.390 176.700 32.801,500 55.986.800 27.221,<V0
Other stock?. 263.500 403.G0O 1,375,200 142,320.700 103,811.500 85,998,3001
AU slocks . 383,900 535,900 1,551,900 175,131,200 249,798,300 113,219,<iG0 :
Yesterday Dny before. Year oiro. 1920. 1919.
I'. S. Rovernmcnt bonds $9,933.000 $8 628.000 $11.217,000 $2.356 8A9 000 $2,1% 647.000 :
Kailrood bonds . 2,312.000 2,236,000 1.901,000 339,166.000 296,991.000
Oiher bonds . 3.341,000 4,502,000 2.521,000 207.1?.8,OP0 314.536,000
At? bonds . 15,588,000 15,366.000 15,039,000 2,992,313 000 2,718,224,000
i ,
Record of Stock and Bond Average?
(Copyright, 1020. Now York Tribuno ?ne.)
Stocks RalSee lhas Range foil
Yester- Day Year far 1920. year 1919.
day. before. aso. Hi?h. Low. Hlrrh. Low.
20 Rnilroad s.ocks .?72.25 72.05 70.55 73.25 58.60 78 80 53.25
30 Industrial stocks . 85.83 85.37 116.73 110.30 82.53 119.33 79.20
50 Stocks . E0.40 80.04' 98.26 92.05 74.46 99.54 75.92
Bonds
10 Railroad bonds . 76.96 76.86 78.21 76.96 66.73 82.80 72.83
I0 Industrial bonds . 81.26 84.26 93.33 91.45 82.92 96.70 90.56
.5.Utility bonds . 73 66 73.44 79.45 74.53 67.64 87.75 71.80
25 Bonds . 79.22 79.14 84.50 81.71 73.94 87.91 80.21
nirh. Low. D(t. *?*
1920. 1920. Rate. Bale?. Ot??-n. rf'cn. In-, Hone. cbee. Rid.
46% 25 ? Advanco Rumely . ... 100 28''4 23'.i 28% 28/4? % 26
10934 103 ? AIl-Amer Cable. 100 104 104 104 104 + 1 100
2?,:, 1 ? Alaska Gold Minea... 100 1% 1% 1/2 1'/2-? 1/2
3 IK?? Alaska Jrtneau. 200 178 1% 1% 1%- 1%
6238 56 ? Allied Chemical _ 300 58% 68% 58/2 68%? % 58'/z
gt 89%? do pf. 1O0 91 91 91 91 4- ?/_ 91
53% 28 1 AllLs-Chalmers . 100 34% 34% a4% 34%+ % 34
95 75 8 Amer Acr Chem. 100 80% 80?;, 80% 80%+ % eo
96% 81% 6 do pf. 1C0 86/2 86'2 86/2 86'/_? ',4 05
103% 7034 8 Amer Beet Sufrar ... 3C0 74 74'/8 74 74%? 1% 74
128% 68% 10 Amer Bosch Ma_ ... 400 77'/2 77% 76% 76%? % 76%
| 61% 30%? Amer Can . 1100 33 33! 2 33 33 ? % 33
147% 1241/a 12 Amer Car & Fdy. ..(. 400 134% 135 1344? 135 ->- '1/2 134
; 54% 22% ? Amer Cotton Oil ... 7C0 254, 26 25% 25%+ % 25%
15% 9 .80 Amer Drii.T Synd .. 40? 9'4 91/4 9% D%-9%
! 122 56% 7 Amer Wide & L pf. . 1300 57 57% 57 574?.? % 57
II91/2 64/2 6 Amer Inter Corp- 3100 71% 72% 71% 72?/3? Va 72' 4
i U5 61% 3 Amer Linseed . 900 -69% 70 C3% V'O + jh 09%
I 99% 80 7 da pf.'. 100 84% 84/2 84'/2 84'/2+ !_ 83/2
100! 4 82 6 Amer Locomotive. . . 2700 96 95% 95% 96 + % 95%
I 17% 11%? Amer Safely Razor.. 400 14% 14% 14% 14%+ '4 14%
| 301/, 1634? Amer Ship & Com... 300 18 18/4 18 18% + % 18
? 72~ 52% 4 Amer Smelting . 1300 52% 68% 58% 58%+ % 58%
?IOOI/4 88 7 do pf. 1900 92 92', 4 91' 8 917y? 33 9134
? 93(/2 85 7 Amer Steel Fdy pf.. 100 85 ?5 85 85 - 84%
142% 99 7 Amer So_ar . 700 105 1.05 104/2 104/_? 1% 105
118/2 102 7 do pf. 100 IO7/2 107/2 107/2 107/i? 1/2 107
i 106% 74/4 10 Amer Sumatra Tob.. 100 87 87 S7 87 + !2 87
| 100% 92% 8 Amer Tel & Tel.... 1500 100 100 99% 100 + ',4 S9%
2?,3 IO414 12 Amer Tobacco . 300 132% 133 132/2 133 - 130
?165% 69% 7 Amer Woolen . 1200 71 71' 3 70' 2 ,1 ? /a 71
613,4 q? _ Amer Writ Paper pf 13C0 48% 48% 43 43 + Va 47%
<Sf% 49/2 4 Anaconda . 900 50 50% 49% 50/4+ Va 50%
6/4 2 ? Asseis Real Co. 100 4 4 4 4 - V 4
67% 23/i 4 Associated Drv Goods 3C0 ?6% 26% 20% 26/8? % 26
125 85'2 C Associated Oil . 700 109% 109% 103 I09 ?3 100
90 76 6 Atch, Top & San Fe 5000 83' 8 88/4 C738 88 ?^ Vb 87%
82 72 5 do pf. 900 77% 77% 77/2 7734-77 4
12% 5 ? Atl, Birm & Atl. 900 9% 9% 9' 4 9'.1? 1 9%
104/2 821'8 7 Atlantic Coast Line.. 100 97?/_ 97' 2 _7'/a 97'/_-nG':
: 176!'-, 128/a 10 Atl, Gulf ?S-. W 1. 3300 145 147/2 144% 144%? Vu W??
; 114 103 7 Atlantic Ref pf .... 2:0 107 107 107 107 - 1C6
! 201/4 18 7 Atlantic Frtlit . 2300 19- 19/a 19 19%? % 18
! 1481/2 100 7 Baldwin Loco Co . . . 18700 113% 114 112% 114 + % 1137t.
49% 27%? Baltimore & Ohio... 2400 40% 47/4 46% 47/4+ /2 47
: 5-1 40% 4 do pf. ?100 53% 53% 53% 53/2? 's 53?/?
. 50'/.. 35 ? Barnsdali A . 1C0 40 40 40 40 ? % 38
: 43% 35 2% do B . 100 37 37 37 37 - ?
154?/2 114 8 Barrett Co . 100 132 132 132 132 ? /2 130 ^
1% /2 ? Batopilas Mining .. 100 % % % %? Vb r't
32/2 4/2? Beth Motors . 200 4% 4% ??'.% 4%? Ve 4/i
IO2/2 67/2 6 Beth Steel, Class B.. 4800 71 713? 70'4 70%? % 704:
114 IO3/2 8 do 8% pf. 100 105 105 105 105 4 %104'/?
I 17 9?/i ? Bklyn Rapid Transi.. 3600 15 15% 14/4 14'.'-.? % 14/
| 13'4 5'4 ? do ctfs. 1300 10 10 9% 9%? ' ., 9/
I 63'/_ 48/4? Bklyn Union Gas .. 1700 60 63% 60 62/2+ 4/2 62'/
8/2 4/2? Brunswick . 100 7 7 7 7 ? % 7
! H/2 6/4? Butte Cop & Zinc... 400 6% C% 6/2 6%+ /a G-',
' 29''- 15% ? Bufte & Sup Copper. 1C0 16 16 16 IG + Va I5'1
28% IO/4? Caddo Oil. 3200 19% 13% 19% 10%? % 19'.
j 75/a 05 7 Calif Petrol pf. 100 68'4 68/4 68% 68%+ Va 68
! 134 110 10 Canadian Pacific ... 2900 124% 125% 124% 125%+ % 125';
! 104% 39%? Central Leather _ 1500 41 41% 40% 41 ? % 41
' 61% 33% 4 Cerro De Pasco. 400 38% 38% 37% 37%? % 374
164% 74 10 Chandler Motors _ 1500 84 85% 84 84/2+ % 843/
68% 47 4 Ches & Ohio. 200 66/4 67 66% 67 + % 66/
; 15 4 ? Chi & Last III. 300 12% 12% 12% 12%? % 11'/
| 17% 4% ? do pf. 700 12 12 12 12-12
! 14% 7 _ Chi (ircat Western.. 1700 12 12 12 12 ? % 1 i7
! 03% 19% 2 do pf. 2200 29% 29' _ 20% 29% I- % 29'
' 44% 30/4? Chi, Mil & St Paul.. 3200 42% 42/2 41% 42%+ % 42
I 65 45%? dop.". 2200 62% 62% 62% 62%+ 33 62!
91/2 67% 5 Chi & Northwestern.. 900 82 82% 82 Z2 - 84
\ 120% 98 7 do pf. 100 110 110 110 110-109'
i <1% 23% ? Chi, R I & Pac. 3400 37% 37! 2 37% 37%- 37'.
I B434 64% 7 do 7% pf . 700 81% ?2% 81% 82%+ % 82
? 71% 54 C do 6% pf . 200 631.2 69/2 CO' _ 60%- 093,
I 21% 12%? Chile Copper . 1300 13% 14 13% 13%+ % 13
! 41% 24% 1% Chino Con Copper .. 1100 24% 25% 24! 4 25%? % 243,
' 60% 27% 4 Coca-Cola . SGO 31 31% 30% 31/s? % 31
i 65% 18 1 Columbia Graph'" ... 900 20 20% 20 20%+ % 20
? 6V ~ 50 5 Columbus Gas & Elec 700 60 60 59% 60 -?- 1% 593
! 79% 55/2 7 Consol Clears . 200 72% 72 4 72% 72%? % 72'
89% 76'4 7 do pf. 100 80% 80% ,0% 80%+ % 82
93% 73% 7 Consolidated Gas_ 3700 87% 88% 37/4 88%+ 1% 83'.
20% 3% 2 Con Int Cal'hn Min.. 900 8% 8% 8'4 8/2+ % ?
11% 10 1 Continental Candy .. 800 10% 10% 10% 10%- 10
?1O5/4 76% 4 Corn Products . 5200 81% 82% 80% 82%+ 1% 82 =
1C7 100 7 do pf. 100 100% 100% 100% 100%? % 100
46% 25 3 Con Textile . 300 25% 25 25% 26 + % 25=
287/2 II5/2 8 Crucible Steel . 1700 129% 129% 123 128%- 128:
1C0 92% 7 do pf. 200 93 93 93 93 ? 34 93
59% 31% ? Cuba Cane Su_ar... 1CC0 34% 35 34% 35 - 34'
3&7-a ni 2 7 do pf. 300 73% 74/a 73 74% r % 73
36% 23%? De Beers . 200 25% 25% 25% 25%+ % 25|
260/2 165 10 Del, Lack & Western 200 247 247 v 241% 241%? 8% 241
9 2 ? Denver &; Rio Grande 700 238 2% 2' 4 2%- 2'
16% '2/2? do pf. 1100 334 3% 3% 3%- 3'
13 9% 1 Dome Mines . 100 11% 11% 11% 11%? % 11'
117 60 5 Endicott-Johnson ... 400 65% 65% 65% 05%- 65
2133 9% ? Erie . 2000 18% 18% 18% 18%? % 18'
3O/2 17%? do 1st pf. 2G00 27% 23 27% 23 + % 27:
22% 12%? do 2d pf. 300 20% 20% 2C% 004?? % 20
95 65% 8 Famous Players .... 200 67% 68 67'., OS ? % 64
9|38 SO 8 do pf.,. 100 82% 82% G2 ' S2%? % 82
'.8 19% 3 Fisk Ruiilicr Tire_ 11C0 20% 204? 20% 20%+ % 2C
19% 5% ? Gaston, Wins & Wijr. 300 6'4 6% f.% 6%? % 6
192 146 8 Gen Chemical Co_ 300 150 150 150 150 ?- 2% 149
172 134 8 (?enera! Electric Co.. 2100 139 139% 137% 10,3%? 1 108
42 16% 1 General Motors . 14400 17% 17% 17% 17%+ % 17
89% 72 6 do pf. 300 72 72% 72 72%? % 72
85'4 64% 6 do 6% deb. 200 663a 66% 66% G5| 2- 66
93 76 7 do 7% deb. 100 78 78 78 78 ? % 77
85% 48 6 Goodrich, B F . 3200 49% 49% 48% 49 ? 1 49
102% 81 7 do pf . 800 84 84 81 82?3 82
5b! 2 29 ? Granby Mining . 100 29 29 29 29 ? 1 29
20% 16 2 Guantr.namo Suear . 200 17! 8 17% 17% 17%? % 17
90% 65% 7 (?real Northern pf . . 2700 87% 87% 87% 87' 2+ % 87
"1% 30 4 Gt North Ore subs.. 500 34% 34% 34% 34%-r % 34
33% 23 .50 Greene Can Cop _ 100 27 27 27 27 "- 26
:?34 25% ? Gulf Mob & North pf 300 33 33 33 33 ? 1% 33
84% 41 ? (?ulf Slates Steel ... 2C0 49% 49% 49% 49%+ 78 49
78% 50 4 lla.sk & Bar Car Co. 700 67 C7% 67 67/2+ /2 67
4i0% 75 ? Houston Oil . 400 103 104% 103 103%--- % 103
97% 80% 7 Illinois Central .... 100 94 94 94 94 - 93
27 13% ? International Agri . 100 20 20 20 20 ? % 2C
C1% 42% 4 Inspiration Copper . 1300 42% 43% 42% 43%+ % 43
6% 3 ? Inter-Cons Corp .... 11100 5% 6% 5% 5'2? % ?
17% 8% ? do pf . 7100 16% 17% 15% 16%? 3y 1{
142% 109 7 Inter Harvester .... 200 109% 109% 109 109%- 10?
115 104 7 do pf . 200 109 ' 109 109 109 -i? ici
5l% 1738 ? Int Mer Marine - 300 18% 18% 18'., 18%? % 15
111% 69',2 6 do pf . 1200 7O/4 70% 70% 70%+ % 7C
179 37 ? Int Motor Truck ... 100 jlO 40 40 40 _ 3S
OI34 62%.? Inter Paper . 3100 69 70% 69 69?=? '4 6?
-6% 153a? Inter Nickel . 1-500 17% 17% 17% 17-4? % V,
9% 5% .60 Indiahoma . 200 7% 7% 7% 7%_ -
47/4 28 ? Invincible Oil ..- 7800 32% 33% 32% 33%+ % 3:
51/2 36% ? Iron Products . 300 40% 41 40% 41 -j- ?3 4(
7'4 5'4 ? Island Oil & Tr - 8700 6% 6% 6 6 _ % ?
44/4 7% ? Jewel Tea pf . 200 13% 13% 13% 13%+ % V
3C 17% 2 Jones Tea . 200 19% 19% *9'/, 19%+ 1% 1?
27% 13%? Kansas City South.. 700 0-,., 24% 24/? 2-4, ] - '8 2
52'2 40 4 do pf . 8C0 49% 50 ' 49% 50 ? 3 41
152% 5130 4 Kelly Sprlnfffield ... 800 51% 52% 51% 12'_0
1% % G do ris . 27C0 % 3^ ^4 .4"._
33% 22 2 Kcnnecott Copper .. 800 22' ? 22% 22' 1 *"" ' 1
48% 12% 1.20Kcystonc T.re . 20O 14% 14% 14% H%_ ? il \
9i-!4 60 6 Lacknwanna Steel .. 1100 64% 64% 63% 64%-f ' 6
51% 35 ? Laclede Gas . 1200 50 61% 50' 51 -;- 4' 8 5
2434 8% ? Lake Erie & WeM... 200 21' 21 21 21 ? 1/2
40% 16 ? do pf . 400 37% 37% 37!/, 371/,? s"2 *"
55% 393.4 3/a Lehi_h Valley . 1300 53 ' 54 53 54 4. i 5
1>?'2 &9 7 Li_ & Myers Tob pf. 200 102 102 102 102 ? 2% 10
3G 18% 2 Locws, Inc . 2700 23"^. 20% 20% 24 ? % 2
70 37% ? Loose-Wiles Biscuit . 200 38 38 37% 37%_ :<. 3
112% 94 1 Louisville _ Nash... 200 106% 106% 1063/1 4,0?-"? i/_ \e
0934 60 6 Mackay Cos . 200
65% 38% 7 Manhattan Elevated.. 300
3C% 16'2 2 Marl in Parry . 700
33 2% ? Maxwell Motor Co... 800
222 145 12 Mexican Petroleum . 21900
26 1S% 2 Miami Con Copper.. 2100
71% 10 4 1.60 Middle State, Oil... ?300
52% 37% 4 Mldvale Steel . 1600
?! 9 ? Minn _ St L new.. 1200
11 3% ? Mo, Kan.-as & Texas 1100
13 7 ? do \,{ . 1400
31% 21 ? Missouri Pacific _ 2700
E5% 06 ? do pf . 1300
40 23% ? Mont Ward & Co_ 900 _
69% 59 3 Montana Power .... 200 64 C4 63 63
40 32 3% National Acme . 100 33 33 33 33
125 100 7 N4alionaI Biscuit _ 1C0 107'4 107% 10/ 107
18 6'.4 ? Nut Con _ Cable- 100 6% 6', 638 6'
838 4%? Not RR of Mex 2d pf 1300 6% 6% 6% 6:
17% 10'4 1 Nevada Con Copper. 300 11 11 10% 107
64 31 ? New Or?, Tex & Mex 900 63% 63"4 03 GO'
117 89 10 N Y Air Brake. 1700 00 4 95% 951 , 95
33;4 64/t 5 New York Central.. 4800 S2 S" 4 81% 8""
60% 23%? N Y, Chi & St L... 800 64 64% 64 T,
48% 20 2' 2 New York Dock. 20,0 24 24 24 24
61 4-1% 5 do pf . 300 45% 45% 45 45
37% 20'2? N Y, N II & H. 5700 33% 33'8 32, 323
27% 16 1 N Y, Ont & West.. 200 24 24 .- 2.: a 23
22-u 12% ,50 Nunnally . 200 134? 13% 13' 4 13|
103% 85 7 Norfolk _ Western.. 700 98% 99% 98'4 93^
? ? 5 North American - 3C0 59% 60% 53 03
92% 6634 7 Northern Pacific ... 2200 89% 90 " 89 89^
77% 38 6 Nova Scotia Steel... 200 40% 40% 40 40
5% 3% .40 Okla Prod & Ref... 800 4 4 4 4
157 107 8 Otia Elevator . 200 131 131 131 131
64
a
Mich.
1G2Q.
23 .i
41%
65
73
116%
111%
44
36%
18%
42
32
63
42' 2
44! j
Low. Dir.
1920. Bate.
26' 2 2
19' 4 ?
46 3
22% ?
71% 6
6734 6
37% 3
16 ?
9 ?
27 ?
22 ?
56 5
30?% 3
20% n
?3 79
72?% 5 4%
36
0r% 21%
100
6.0
83'.,
13%
64%
327.
121
040
1C6/2
2234
101/4
6'
C5/,
3 24;
ire%
48! ..
49%
11%
? 0 r- n
- 6 3,;
243
43%
82%
105%
''??>.-.
66| .:
870
":?:'?.
1263 i
4 7
53%
22 '.i
95? 2
106
04'4
383
25
34'
6"?'
15'
31 ,
11
20' '?
G
10..
143:
105' .
59
88/,
18
50
78
eco
IOC"/
41
47
9
40
17
31
9! 2
57
83%
16%
9
27/4
40
73/,
OC 25
129% 110
60%
53
20 4
1434
31
25' j
!!G%
96! ??.
140,34
7 G
1C9
115%
80%
13%
97
00',
112/
21
1:
61%
44
176
7 Va
14
12%
77' 2
59
74%
50
83%
104%
55%
7
42
56/t
104
10%
7
20/
14
5 "4
11
20' \
54' -
44'
24
46
9
42'
10
58
100
82/2
16
69%
09
93
145
116% 103 7
95% 55 0
*Ex dividend
Orpheum Circuit . ..
OliS SI eel .
Owens Ilott?nfr Mach
Pacific Development.
Pan-Amer Petroleum.
do II . 1300
Pennsylvania R R. .
Penn Seaboard Steel
Peor?a &. Pastern . .
Peoples ?.'as & Coke
P?re Marquette . .
do ;n ?or pf ......
Philadelphia Co ...
Phillips JVt.rol
Pierce Arrow
Pierce O
do pf. 3600
Piltsburch Coal
Pur? Oil Co '.. .
Pil'.s eO- 'A'i'st Va
Pullman
Punt:' Aleure Su/?ar
Rail Steel Sprin.ir . .
Ray Consol Cop ....
Readme .
do 1st pf
do 21 pf
Rep Iron &
do pf .
Pep Motor Truck
Rcplosrlc Steel
?0 Royal Dutch . 4100
Saxon Motor
St Louis & ?
do pf.
? St Louis
? do pf . 6700
? Se.-.boi'.rd
? do pf .
? Seneca Copper
8 Sears Roebuck
? Sinclair Oil
G Sloss-Shcff St &
6 Southern Pacific .
? Southern Railroad
5 do pf .
Stand Mill pf
Standard Oil of N
do pf .
Studebaker .
Superior Oil .
Tinn Cop & Chem
Texas Company . .
Texas .Si Pacific
Tex & Pac Coal & O
Third Ave Railroad..
Tobacco Products ...
do pf .
Times Square Auto. .
Transcon Oil
Twin City Rap Tran
Temtor A
Union Ba_ & Paper
Union Oil
Union Pacific
do p f .
United Drug 1st pf
12 United Fruit . 8 !09 211% 21734 211% 217%-r
? I'nited Ry Invest....
do pf .
? I S C I Pipe & To.
8 IS Ind Alcohol_
3 I'nited Retail Stores
8 II S Rubber . 36CO
6 IS Smelt & Ref ... 100
5 U S Steel . 239C0
7 do pf . 700 1083B 108% 108% 108%
G Utah Copper . 1700 57 5734 56% 57%
I'fah See.Corp . 500 12
6 Vanadium Steel .... 6400 63!
4 Va-Car Chem . 800 56'/
8 do :>f
2 Vivaudou . 4100
? Waba ih
? do pf
? do pf
? \Vesto:n
do 2d
-? W c ; e r 11
6 do pf
7 W'cslcrn Union Tel.
4 Wcstinffltousc Mfg ..
4 Wickwire-Spencer ...
5 Wilson Co
? Wheel & Lake Erie.
4 White Motors
1 Willys-Overland
7 do pf
8 Woolworih
7 do pf
Worth Pump &
%kl and Asked
BUI. Ask.?
Adams Kxp . ..4 oil'
A?l Rumu v pi ... (lu
A . .'. Si] ' .'I i I)
All??-l halm : f 70 77v
Am A_r Cli pf S5 8?1
Am Haul! Noto -1 , 50
do pf . 40 45
Am 1? .- ug pf T? KO
An. H S Ao; 14 4S -,.;
do pf .S7% bO
Am Can pf. . SO ^.7;
Am C & r pf.1119 no
Am (.'ol "i! pf 07 "0
Am !?_ press... 140 142
Am I .? Sixur, 3!) ,|.i
??-? m' . r.s% su
Am l,n i ran.'i? ?,l l|)l
Am l.i ,- ? ,.- S31. ?
Am ; ? , pf. ioov_ loo!
Am Mali ,v i; .-,;
Am S i| .1 Ig l?o
Am Sill pf A 7 1 7 s
10-, Ha
Dl
[Jld. Aski ?
Int An- pf. \ \ 7!) ??o
- ?M ';' 1st pf 72% 7:,
, do 2d pf, .. GO ci
' i ,'T if. es im
Int Nickel pf. so 83
: 'HI Salt. 63
Iowa Central.. 10 12
Iron Products 40'6 41
; "I Tea pf.. 13 14>
Jon < ran is i',
It C I'SVM pf :,-,
Ivan ? S pf 4:1 no
Kelly S pf.. 7:w.', S.I
- S>% Pf.. 91 " 03
lvelsey \V Co. 47 50
! ' Pf. 7:1 93
K ?li ? D M, r, 111
L do ;"'. 30 47'
10 do Cas., 47 50
i 1? .\ M T Co. 144
An ? 1 . pf -14 .
Am ' 1- 1 , 1,... :
Am so 1: T pf ? .
Am T !&('.. 4."
A To . pf new. Hi) . :
'? n W h pf, .?
do pf.
VV,
pf
pf
I.-W I! ! ? ).'
'.. 2.1 pf.
ml, I'pf
Manat? : ug'ar
1 12
101
115
II
17
?? :?
00
A 11 ( ; lsi pf 59 80
do 2d pf ... 52
A' C ?>?' !. :.,. ',74 99!
':? . 11(10 lliiO
All & \V l pf 03
S ?'".T. 4-, 7
Pf
M lu l;. .?, li . . ??'.. 2'
M 111 H Sup. . 57 " C0
' do pf.100
Marlin Koek. - - 38
Mai-tin l'arry. 17% 181
Util . A W. .. 32 36
, M M Co 2d pf :<.-', 4
l> S pf. 95% 100
Ml li feutrai. 90 95
MSP&SS M.. S3 85
pf.
I .
pf 97
9S
U
do 1 1.
Power... 03%
^^ 94
'!. pf 40 00
I! ?o pf 103 : ?
H n# Min
?? ' '
? - ' ' ' . U0 < 95
Urn fivlck
^^^___^____
Mo : . & 14 00
M ' . Bodj 27!
: ?' ? pf. . ; :
y ? liat.ini
? i 1 nil 107
? s
.V
14
, n
. : .. S0 1O0
Duff .y susq. 7.4
?1 ' pf . . 12 50
Bi . . T rn .
Co . 1 ; 13
? ?I pi .;--4 B0
' il ui . .-. 1
1 ? ida Soiuh il 1
< '?-? .1 ! ??: -I Ml
Cent I.?\,th pf
1 ' I..210 225
? ? ? Con? 45 52
N ,. Lead. ... 7:;
du ' . . . li.?',
Nun >fM : ? pf 9
NYC&SUst. pf 73
... 2d pf. 158!
N V Mo '; pf -11
N -;? ,?0 s..':'!., 15
N ??' ? w ??? pf i;:,t
\ ?va '- Ktral 40
Ohio Ktiel_ 4S
s "'?
:'?? 4
? ;
D'ovator.iril 1
Si ? > pf ? ' [i
is 11 M !'.' 9 : ltl
V .-?: .25 ;
: : :' . 45 G
M 11 - :
T . T ? -r :
?S lui 4 .
1 C :?' 45 :
M. ; ?
1?
? . : .v 1.
(-'?I ? s ?.t pf 52 - :?
? - I pf., . -i. . 51
Col urap! pi >' . su
Comp lab [tec I.'I 44
i- ... c .,? pf. si S3
< ' ?' . . 7 1
do pf ... . :?? 4 100
C ? : ! ' ?;
Ci r:. Pre i pf . 100% lui
' 1 ? ? . ?
? : Am ? ? ,..
De ? liud 103 105
!' .'? R C p|
..??? ? lid
___________? r.
?? 12
? '
1 .
pf
: I f
? ?%
'
110
?
: ?'- :
70% 83
IIi
' rj
il
?? - .-? ??('.. 1
B.k H 1
l?r. :: 11
i Hand
II
.1 ' ;?f. 1_
In 1st pf . ??'? ?:
dg 2d pf .. I 92
l'en . H , -*? 110
... '.. ',-. ! '..'4 ' -
H_wa r.??-.?'.. pf '- ?'? 1""
s-s s :? ! :?' ?f% -'k
s r n Sug ui i"
I ?3 ! -
fl
Pf
4 91
' ??'
I
1 am 1' a
? ? 1
1 ?. .. . |U
to pi .,.,4 :;
Cnem 1 , |
?' ? Pf (fl
' ' (13 1,
-en iVar pf g,<4 .,
4
' 'ra ;,' 7j 7
'?' ''?? ? ','.>.s : :?..
Cuif M & N. 15 1
d" pf . as ?,
.',?? pf.
Steol ;?'
I' I. T
W 01
P U Pf
(1 ' ?
i: 1
_^B
^^^^^H12%
U ? S of Ara :
, ?' 101 104
llrug.105 1!)
, ? :' M4 ??;
tJ8CIP_P Pf- 41 43
Ki pre?*. 6%
r S I ?\
?11
Bid. Asked.| Bid. Asked.
C S It A I. 49% 51 W Mf? lit pf 01 05
r ,-; H M i?:' 104' ? 105% Wilson C? r'. S5 :?;
1 S s & i: pf 43% 45 Wls entrai.. 41 44
Va-Car C pf.10? 107% Woolworth ...100% 108
Vu l C & (Min 110 do pf.107 IOS
! W V Express. 55% 59 UT_ M pf A 80 90
I W Air Brako.lOl 102 I do pf B... 63 05
Equipment Bonds
fQuoted on Incom?; percentage basis.)
Namo. Rate. Maturity. Bid. Ask.
Bait & Ohio.. 4% 1920-'27 8.00 7.50
Beth Sted_ 7 l?21-'30 7.2S 6.76
Boat <~ Alb... 4% 1920-'27 7.10 C.7?
Buffalo. H &P 4%-5 l?21-"33 7.5? ?t.i?
do . * 1921 -33 7.50 1.60
Canadian Nat. 7 1935 7.00 6.90
Canadian Nor. 4%-5-6 1920-'29 8.25 7.25
do ..?_... 6 1920-'32 7.20 G.75
C (J C & St L. 6 1921--29 7..E ?.75
do . 6 1921-'27 7.30 6.75
Ches .1- Ohio.. 4% 1920-'27 7.50 ?.75
t'h R I .?V I'ac 414-5 1920-'27 8.25 7.25
Chic ,t 4r W. 4% 1920-'23 7.50 6.75
C St I. & N O 5 1920-'24 7.30 6.75
!>, ! & Hudson 4% 1922 7.15 6.75
Kile . 4%-5 1920-'27 8.00 7.00
I'VisCO Cons... 5 1921-'22 8.50 7.50
I.; Central.... 4%-5 1920-'27 7.:'?0 7.00
Kan City "io.. 5 1920-4M 7.50 6.75
Louis & Nash. 5 ' 1920-'23 7.25 6.75
Mich Central., u 1921-'32 7.25 6.75
do . 5 1920-010 7.30 6.75
M S P _ .S.SM 4%-5 1920-26 7.25 6.75
do . 6 1921-30 7.35 6.95
do . 7 1921 -'30 7.35 6.95
X Y C Linos.. 4'i ]<J20-'2S 7.25 6.75
N Y Cent ft K 4% 1921-'32 7.20 6.85
do. 7 192?.-'35 7.05 6.50
N YC-St Ij 4% 1921-'26 7.50 7.00
do . 5 1931 7.50 6.75
N Y N II & II 4%-5-6 1920-'23 8.37 7.60
Norf & West.. 4% 1520-'24 7.10 6.50
Nor Pacific... 7 1921-'30 7.no 6 50
Pac Kr Exp.. 7 lfi25-'33 7.00 6.50
Pennsylvania . 4-4% 1920-'23 7.25 6.75
Pitts <fc I. _.. 6% 182l-'35 6.95 6.45
Reading Co... 4% 192l-'27 7.00 6.50
Seaboard .... 4%?6-? 1920-'27 8.25 7.60
Southern Pac.. 4% 1920-'26 7.30 6.60
lo . 7 1925-415 7.00 6.50
Southern Ry... 4%-5 1920-'26 7.?5 7.00
! nlon Pacific. 7 1924-'35 7.00 0.r,0
Union Tank. . . 7 1!)30 7.00 6.90
Vil finia Ry.. 6 1920-'30 7.25 6.75
Wabash . 5 1321 10.00 7.00
Divitlends
Initial
Hocking Valley Product* Co.?An fn
Itlal dividend ut' i> per cent a share has
been declared, payable in 4 4 por cent
Fourth Liberty Bonds mi November 18 to
stockholders of record November 8.
Extra
Abnnnon Corp.?An extrn dividend of
14 per cent a share has bee'n declared
In addition to the regular quarterly
i dividend of 14 per cunt, both payable
.\' v-?::.1 ??!? 1 to stocliholders of I'tcurd Oc?
tober 20.
Regular Declarations
Pay - Holders of
Rate. Period, able. record.
I A. O. Smith Cor?
poration pf ..$1.75 Q Nov. 15 Nov. 1
i; ... ;? m Pulp
Paper Co. .$1.75 O Nov. 8 Oct. 31
Brooklyn Edi?
son Co.$2.00 Q Dec. 1 Nov. 18
Chief Con. Min?
ing Co. 10c Q Nov. 1 Oct. 16
Dallas Power *
Light Co, pf.1%% Q Nov. 1 Oct. 22
Q< in ? '::?>. 11 Co.. 2% Q I">?-c. 1 Nov. 19
Gt N Paper Co.Jl.60 Q Nov. 1 Oct. 23
Mechanics Mills. 5% O Nov. 1 Oct. 1*
Naragansott M. 5'4 O Nov. 1 Oct. 21
Nati l.'i Co, j.'f.lVi, U Dec. 15 Nov. 19
? Rainier Motor
<'.;?. p.' . 2<4 Q Dec. 1 Nov. 15
dills.. :;"? ?j Nov. 1 Oct. 18
SU-v? ns Mfg C 0'.. - . Nov. 1 Oct. 18 I
1 ; ? Power <v
Light Co, pf..l%% Q Nov. 1 Oft. 22
London ?Vloncv Market
LONDON, Oct. 00 Bar silver, 52%d
pe? unce; bar gold, 110s 6d; money,
1 ?>?.?r cont. Discount rates -Short bi!l3,
?'?.?"'j per cent; three-month bi:ls,
&'"_{_? 5 11-10 por cent. Cold premium
at Lisbon, 1-10.?0. '
The? Door of Opportunity?the SltoaHoq
Wanted columns or Tii? Tribune. Rate?
12 words 25c, each additional six words
CO.-A.lvt.
In Wall Street
10 Per Cent Call Money
Tho jump in the call money rate yes?
terday to 10 per ?cent took the .Street
completely by surprise, a 3 with the Oc?
tober 15' operations ou" of trie way it
had been felt that the trend of raten
would be downward rather than upward.
While declaring that it was difficult to
point out specifically the reasons for
this week's tightness, outside of heavy
. Government withdrawals, bankers ?aid
I that in a general way the scarcity of
j funds for stock market purposes was
1 undoubtedly one of the aftermaths of
the heavy payments last week. An
' other factor, it was pointed out, was
! the unusually heavy withdrawals by
?corporations, instanced'by the increase
? in clearings at the Clearing House.
' Brokers who were inclined to be satiri
: cal r'n?ji.:jht they saw the hand of the
! Comptroller of the Currency in the
i present tightness of the ca?! money
! rate, especially as it has followed so
! closely on his charges of unduly high
i rates.
Judge Gary's Speech
Judge Gary's remarks before the con?
ventions of the American Iron ami Steel
Institute are always awaited v: in un?
usual interest by followers ol the Bt ck
market as they, as well as member- of
the iron and ?jtee! industry, place much
1 reliance on his ability ' < ......
? future. Yesterday's address was no ex?
ception to the rule, but there was a
I marked divergence of opinion c . : rn
ing the head of ;.he .;teel corport I in'
j references to prices, Sein? mem'u
j of the brokerage c mmunity proie .?,?
to see a hint that -.tool corpora
quotations would be lowered but cl ? e
study of Judge Gary's remarks, ace? rd
I ing to others, ?.'.id not convc;, thai i n
I pression. Some of the ?teel me -
; heard Judgo Gary said the judge . . ?
; it plain that prices shoul . .: ?
I around a standardized level, >? :
: level they thi ught w >uld bo that
maintained by Ihe steel corporation.
Steel Price Average Lower
The average price of eight 1< iding
iron and steel products declined dt r
I ?ng the last week, according to ' ,-- '? ' ??
Age, to 180.77 from $82.64 on October
12. The proo.ent average, compares
with ?84.66 on September 21 and
$'01.50 on October 21, 1919. From th ?
h'gh ave'.-'.;;.:- of ti-.e sum.:. estab?
lished on August ,'i at $85.03, the cur?
rent average shows a decline of about
5 per cent. Declines in various
j grades of pig iron were much in evi?
dence the last week. Bess :mer
I dropped to ?-4^.96 from ?50.46 a
I gross ton, while No. 2 foundry and
basic declined to $40 from $40 a gross
ton. Quotations on bars and plates
showed reductions of about 25 cents a
hundred pounds.
Denver & Rio Grande
An important conference has been
arranged between the stockholders'
protective committeee of the Denver
& Rio Grande Rflilroa?! and repre?
sentatives of the Equitable Trust Com?
pany, who are acting in behalf of the
Western Pacific in the matter of this
company's judgment of $33,000,000
against the Denver property. It was
stated yesterday that efforts will be
made to eM'ect a settlement of the liti
! gation which has resulted in the set?
ting of November 20 as the date for
selling the Uc-nver road to satisfy the
judgment. The consensus of opinion
in the financial district is that if a
settlement is made it will be at the
expense of the Denver road's stock?
holders.
Danish Loan Goes Big
The $2.4000,000 Danish loan, offered
to investors yesterday, went with a
whoop. The subscription books were
opened at 9 o'clock and by 10 minutes
of 10 it was announced that the bonds
had all been sold. The bonds, which
were offered at par. immediately went
to a premium in the subsequent trad?
ing on the Curb and sales were made
a-: high as 101. The closing quotation
was 100''s. Reports that another Swiss
?can is being negotiated here were
doubted in banking quarters. It was
printed out that there was already in
effect an agreement between New York
bankers and Switzerland as part of the
conditions under which the last loan
was floated that no attempt would bo
made to float a new issue in the United
States this year.
Conditions in South Improving
George E. Roberts, vice-president of
the National City Bank, who has just
returned from a trip through the
South, thinks the cotton growers are
unduly excited over the situation
which has arisen since the fall ?11 ? ?;
ton prices. In an interview yesterday
the banker was quoted as follows:
"With the fall from 40 to 2U cents they
imagine the situation is exceptional
and that the only solution is govern?
ment aid. But the condition is part
of a general liquidation going on
throughout the country, and has shown
itself in the drop in sugar, wool and
other basic commodities. Should gov?
ernment aid be extended to every in?
dustry, which shows a loss, the whole
process of deflation would be 3topp id.
The cotton crops in the South this
year are excellent and would fur-nish
a large export volume were it not for
the strike in England and the condi?
tions in the credit markets of Asia
and Europe. As it is, many farmers
will have to take losses on this r's
crops, but they must realize that other
producers are taking losses aiso. It
seems the rule that producers are
willing for the price of every com?
modity to come down but that of their
own. Cotton growers should allow this
year's losses to average in with tin
unusually good profits of the last two
years. Conditions are improving in
the South, and I expect to see cos?.; of
production readjusted to the new price
level after the present soasen."
Amsterdam to Float Loan
Sutro Bros, ?i- Co. announced yes? r
dey the receipt o: cable advices that
the city of Amsterdam will issue 15,
000,000 guilders 7 per cent bonds at
par. Subscription books will close
October 25. All or- any p-irt of the
bon?ls are redeemable at pur any time
v.ithin forty years by annual drawings
beginning 1922, at the option of the
municipality.' Payment for the bonds
is to be made November 10.
Market Worries Bears
The stock market ngain gave an im
pre8sive display of strength yesterday
in the face of what were presume, to
be bearish influ :
'being the run-up in the call mon? ?? rate
to 10 por cent. There were not a few
traders ?.%?:-,?> construed ' 1-e C!
p.ddress before the members of the
American Iron and Steei Institute as
meaning that the con ? :: - pr c s
wi 1 be lowered in the panerai ?
toward deflation. Th:-y sold stocks on
this assumption, but made '?'.'', ?
way. As a matter of fact, it was noted
that the lower prices went the duller
?-he market became. Shortly after the
call rate advanced to 30 per cent prices
started to move upward, and a strong
tone was maintained until the close.
Traction Shares Decline
Selling pressure against the local
'raction stocks yesterday was attri?
buted to the announcement that the
Court of Appeals had denied motions
?or the reargument ? f the so-called
?New York City eight-cent fare cases.
ihe court had previously held that
where a maximum local "trolley far?
was fixed by franchise -: ?
Public Service Commission was with?
out authority to alter such fare. Third
Avenue was the. hardest hit in the
market, the steck declining I7* points.
The Interoorough and B. It. T. issues
', ? ? n'?- fmctfnno__? W.-er.
Our Circular on
Southern Railway
and
Pacific Gas & Electric
analyzes the prospects of
these two companic. a?
a Railroad and a Public
Utility representative of
those properties which
should bener.t by their
changed status under
present conditions.
yfjff for Circuler E 20
A. A. Housman & Co.
' ' ?-' :?? ' - - I i\
. .\ ? ? v ? . | !
S V - ?.
?ember? ? ?? ?
. -
20 Broad Street. .Ww York
Itranrh Qfflrr?;
:.-, Wr-t SS?I St, Sev V. 1i ru,
iAberty llalliltngr. niilH_?-!ph!_,
Commonwealth Power
Ra?iway & Light
i
Common and Pref rred
I ?
H.R cefJr. ? Co.
Freig t Cars : ..?dr
;poc.:(-'! analysis? HASXELL i BARKER
il UiKKl UHIMON, ksfc tor lt.?g
R. H, MUM ASTERS _ CO,
I/embers Consolidated Stock BxeH., \ y
82-84 Broad St. New York
? ? '?? uo ! ? ? .> S.'.-.-: .- lo*,
1 . .-i
Strong Recovery
Oh Export Ou? look
And Urgent Buying
<-_ ? a
December Contracts Sell
Above 20 Cents Axaiq
am! Sj?ot Price Advanced\
Liverpool Tone Stronger
The feature in the cotton market
yesterday was the strength of Liver-)
pool and English buying here, acconn
panied by n ports of pr ipects for aq
early settlement of the h laboi
troubles. 14 ice.-; riot only recovered
the losses of Thursday, but made neu)
high ground for the m ivement. De-,
cember led the advance, selling up ti
120.14, or 119 points net higher, an?
; closing at 19.97. The general markevj
j closed steady at a net ailvarce of C|
! to 102 points. October contracts o:.
piled without any fresh development^
of consequence, and so ?"?tr as ? i
learned no additional notices were n?
si ? ? ' I.
?e was? considerable Southern
selling early, Dui
was h p rl ed much h
some of the 1 cal bn |
: buyers wei e si ? e dist
position to operate on . Ther?
: was not hing in the ? ira th<
goods trade to explain the appai
crease in the deman 1 from .-pinners,
. as sales of print cloths in the Fall
| River marker for the w ek were small
'and tit no time since the n??vemen|
started have the rep
tailment been more numer
Southern spot
reported were i i pointa
higher, the ma: mum a |
; ' -. Qui tal
w range I K), ar.tj
the S l ?'
relatively wi k a day or l
I now abo\ ?? |
' confers,
; terday was at New i h
while the highest irn man
kets was Galve
The local market for ?;? ' cotton wal
quiet arid 50 higher, a* 21c. No sale?
were reported.
Thi? rai;s?i of rrl es ? _-l
T?iur?j?1?r |
vc.\
Op?n. Hl_h Low ? ?-?'- **
Ort. ...
Nov. . ..
! ,? '; -' , !C IS -t
Ian...... 1
lui ??
lui?
'? ?
11 ?
Southern Spot Mark? ' '
? ?
I
si? ,/'!'. . '
-
at ?
St ,1'IV. II ' 1
St I-'
II? ?is: m m
?
? - ?
I
bal -
Cotton Itftistlr*
! ,1 '-? .'
I
N. V. arrival - - '
Liverpool ( ables
52 point? ad va ' ' " ' '
8,0'J ba ?Viu '
bales, Am
tuns o M point? hi__eij
Closed 1 a ncl
p. rus ?ctol
y..,.;
. i ! f. id. M . h ?ti I 1-1-1
and ci? t h In i
Cottonseed Oil
The market v, : ' '
la >
with ? '.'- ? ?? ? '
- in?d to inspire I
t_ th? '
?
?
'.?inn.', of 10 to , ?le? wtn
i -
The ranee of prio-s follow?.
Thursday!
Op-n. High. Low. ?? - '
- Spot_ ';
?
Nov.. . . 1? .40 10.40 !'"' '?
?
:
:
? :
Easier Tone in Suzar
On Decreased Demand
? urrcnl V*n
, ? ??
-(far, g\ an'ul itcd lb. .11
Uio No. " ? - :
I
Sugar markets were weaker yester
. . . . .... at o? un?
certainty as a "result of decreased d*
? many for the refined article. Th?
futures market w;;s soft with operator?

New-York tribune. [volume], October 23, 1920, Page 12, Image 12
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New-York tribune. [volume], October 23, 1920, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924