New-York tribune. [volume] (New York [N.Y.]) 1866-1924, November 12, 1920, Image 15

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New-York tribune. [volume], November 12, 1920, Page 15, Image 15
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 12 Nov. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1920-11-12/ed-1/seq-15/>

Newspaper Page Text

Three
Good Bonds
Yielding over 8.25 co
We have selected the
bonds of one Public Util?
ity, one Railroad, and
one Industrial Company
vrhirh we consider the
best bargains in their re?
spective classes.
We shall be glad to
te!! you about them.
Ask for Letter R-i.
Robert C. Mayor & Co.
|nvcs-m?nt 3ank?r*
Equitable Bldg.
New York
TeL B*ct?r 6770
If Wmm
sa?Si?
WkWIS?nef
a D\ BRTISING has es
?*?*? tal lished an annex to the
world's greatest financial cen?
tra?a:, annex that is ind?3
?p-r: sable r.r.J convenient for
the urici-n business man, in
vestoi nd st ;k trader.
N matter where you are lo?
ci, cd, t? you have a financial
service to offer, advertising
v I i -? y >u create a bi
cru better clier i le
' -Her Advertising
FRANK KIERNAN 6 CO
ncy
13 3 E> roadway- N e w ^ brk
Rector \Z5Z
STOCK
J.K.Rice9Jr.&Co,
Pkonii4?.'0to4010 Jobn. 36 Wall St., N. Y.
Mark A, Theodore r. Torwit,
NOBLE & CORWIN
tO Br-.iuS ?t. Now Twrk J
Liberty Nation CurtissAeroPf.
Impl Bklyn.City RR.
Telephone 1111 Kroad
HARRUUN NATIONAL BANu
Fifth Avenue .5: Forty-.ourtb St,
New York
Siskin* Hours from ? A. M. to 8 P. M.
Safa Depout Vault? 8 A. M. to Midnif,?!
N. J. Zinc "Rights'7
J.K,Rice,Jr.&CX
rtiOT.t? 4000 to 401? : tin 36 Wall St . N. T.
Merrill, Short Term
Lynch Notes
C\ v^O. 1 ;<t on rcque?'..
120 Broadway, N. Y.
??"???-?? Shelf Ex( hange
inment Ronds
.. ........ ,1;
Kate, .v
4la
?
4 ' ,
4;, -5
?
?? ' .j -1 6 9
i9L'i-'3a
;?
6
4 A
4?i-S
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:
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! ?
I
' ? '
I
-
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' ? ?_;
1920
H 19
1 .??-?.-? : 7
-5 -? : ' '
???
? 5 1920--26
l924-'36
19o0
0
1911
hmli
B ' .
'
s : ?
7 10
?
7 It
7 '
>
Stocks Ex Dividend
, Company
?N'ov ? g?trot( t'nited Kj
Ji0? }* Q*n?rai cu< am *. Go
K?? 17 A' U ,W) >? * Tire O
No? i, "?rtln-Parry Com
Un? \l o 1'lovi Co H
r
$J I'
I
6 7:.
6 60
?. It
7.00
I
? ? I
i ?
. i S
?
6.50
, i -
?
'
? 4
'
?
6 ?
6.4J
6 40
?
ti.?
t,
5 76
6. ! "
> 41
6.60
6.40
6 SO
6.60
7.00
l'er Cent
_ ?
? la?; rf. J J*
..., , ;uii Co t?r. * *
*? 8t?ra Uro? j>f. SVfc
Prices Irregular
In Quiet Trading
On Cotton Market
Early Advance on Weather j
Reports Met by Increased !
Offerings; Bearish Fea-j
tures Believed Discounted
The cotton market was comparatively
quiet yesterday and the price movement
was irregular. Prospects for freezing
weather in the Western belt and the j
firmr-r ruling of Liverptol encouraged '?
an early advance, but the market met i
increased offerings at 19.02 for January |
and broke during the middfe of the day
owing to reports of an easier spot basis
in the South. Xo material pressure of
Southern hedge selling developed to
color these advices, however, and after
selling at IS.50 January rallied to 18.85,
closing at 18.75. with the gpneral mar?
ket closing barely steady, net un?
changed to 16 points higher.
According to local brokers there has
been something of a change in specula?
tive sentiment. The idea that bearish
features have been discounted hasj
gained ground, but buying on that the- i
ory luis been held in check by contin- j
ued depression in the goods trade and I
the fear of spot liquidation. In con- ;
sequence there has been a disposition
to even up commitments pending fresh <
developments, and the market yesterday
was narrow enough to be influenced by
comparatively small orders either way.
Southern spot markets as officially
reported were mostly unchanged, the
exceptions being an advance of 25
points at New Orleans and a decline of
50 points at Memphis. Middling quota?
tion- ranged from 18.45 to 20.00, com?
paring with the closing quotation of j
1910 for December contracts at New
\ ork.
The local market for spot cotton was |
?'. et and unchanged at 20.05 for mid-j
iling. No sales were reported.
The rango of prices follows:
VTednes lay's
Open. High. Low. <"'. si close
N'ov. ...- - ? 19 -18.90
. ,, ,. 19.20 19.45 18.85 12 1
IS i i S.' 18.7918.60
i ? l. ? 18.CO (i ? -18 i
March.. 18.70 18.80 1? I IS IS.SI 1 10
April.. . IS.404i
V;a. ... 18.GO 18.64 3 8.17 IX.HI
. . IS.15-?
., ,. 18.28 IS.37 17.9 ? ' ' 0
? .:? . ?
Sept... 17.80 ? 17. SO
Ocl ' ' ' - ? -?
Southern spot Markets
?? i .-:???'?.- - :-?"?-.
?????.'?..?.
s. 2,126 ba lei . > nnah
? nged at 21 - ? '? Augusta
...-..- ? n. 147 bales
steady, I ,vc-r at 19, : ? < ???<?
' .. - Louis f-tea
sales, i usl m a. ?. a
I at 18.f sales. 2.47 ' . Hal?
ts stead .-?':- -
Monti (Inn, u I -? ?
n l ' .- ? V ' a -?? a ! ?, a
IS 45c sales 2,000 bales.
Cotton Statistics
Y. ? ter- T ast ' I.asl
wee .
Port receipts . 40,759 37,727
. 64 ' .7,195
... --.,.., ' ' 11,:
S-, Y. stocks 21.244
Port ,.- ks I.2S1 i ' ' ?? -???'?'
: ? ? ? . ? . ? . : i
Liverpool < lllilr? Spol ? a II
demand a - ? -
i 4.0 Im
ports, 39,000, American, 37,000. Futures
opened qulel but steady, al 4 to 9
kdvanc . Cloned quiet at.r, to 10 point?
advance. Closing bids: lieccmber, 14 2'.';
January, 14.05; March, 13.82; M*v, 1X6?;
July, 13 47. Manch, ster; yarns and ' ?
qill.-t.
Cottonseed Oil
The murliM for cottonseed oil was w?..,!
and lower, closing with not lopxes or 22
to 29 points The demand was onl?
.?rate and longs were Inclined to liquidate,
while there ?.m conBlucraDle Hailing be
ii.-\f.| to be i i' Southern account. The
outlook tor export business was not very
promising mat the crudo position was
heavy, Toial sah's for the day were
barrels.
I'l ?? range of prices follows:
Wednesday'?
Opon. High. Low. Close. ( lose.
Spot...-??-10.80 fa"- 11 00
Nov... --10.704jUO.SO 10.85
Deo...- -10.674iH0.70 10.90
Jan... 10.91 10.91 10.71 10.70@10.73 10.98
Peb . . .- - ? 10.! pi0.90 11.10
Mar... 11.12 11.16 11.02 11.04(3111.05 11.26
Apr...- 11.0544)11.20 ll.:i2
May... 31.40 11.42 11.40 11.204? 11.30 11 4?
June...- - 11.20 ii 11.25 11.63
Sugar Declines Again :
Demand Remains Light
Current Y<-ar
prices H'?
rUiga--. granulated, lb.10% 9
Coffee, Hlo No, 7. jx, ig^
ColTee, Santos, No. 7.32 % 1913% -27
Raw and refined sugar again reached
lower levels yesterday as demand re?
mained dull. Sales of Cubas now load?
ing, at 0c. cost and freight, and full
duty sugars, afloat, sold for 5.75,
c. i. f. Negotiations were said to be
under way on a shipment, at T>%c, c.
and f. A local r. finer reduced the price
of granulated to 10c, less 2 per cant
for cash. Futures broke lower in sym?
pathy with the weak spot market and
closed at 21 to 25 points net lower.
The range 01' prices:
W. '- n esda> 'a
Op*n H,gh. low. CIi
S v ... 5.97@5.98 6.18
Dec. 6 00 6.00 5 "0 : -. ; .- 5.98 0 : S
.' an.93 5.95 . - 94 6.15
C h.?? ."? 5.75 i.Rii 88 CIO
Mar..75 ? 80 5.75 : ? - ?? 5.S 6 I I
1 ? . . -. . . -
la .5 99 5.9 ' 6 99 5 97 'n 5,98 l i 9
.; a: - ' . . 1. ? ?
lui; - ? - ,....-,,
(Offer futures More en ourai ni reports
from prli a -. markets si.
marl et aftei It li id sagged . ft several
a Ints v- > ? ? : lay ai I thery vrai n 1 a lly of
lOt : points. 1 lush ess ? 11 dull, how?
ever, and there was a rea I 1er, final
prices being G lo 10 pointa net h eher.
The i.. lige of prl
v.a inesday'fl
Open. 11%!!. Low '"". so clo e.
. ! ?
... .... 7.4>3
:? .7.65 7.k . . - ? . - 1 769
.vaa. - - - ?7.9; ,".!< ?.S4
,,95 S.10 7.93 ? ? S . ' "
." uno, , . . - -. R. 2 o it f
. :. . 8.30 8.4? 8 ?,-.-.
Am ? . : ? I
? ? S. 47 8.4 7 S. 47 ? " v
United (ligar Income Report
Net profits, after charges and Federal
taxes, of the L'a,: I Cigar ? tores Conir
' : ;;:-- .%?? s moni h ?- ended Au
:. I. ,vere - 2,965.721 . ? ?'?
.. ' - . al ??? ing' foi prefem.
to s ?. '. 1 : ; a si ..-.-.
stock, accord : ng to a stiiterm I
ly. Profit and 1 surpl for
the period showed So,771,482.
Weber & llcilbroiu r Earnings
For the six moni endi \ 1 ?
Y. ebei & lleilbroner re] rl . irpli
pei 1, harges and
i to ! -
? 1 7::.477 outsl lim
of common stock Sab vero
261, while net pro! expenses
depreciation, el
Railroad Earnings
Not Equaling 6%
On Total Valuation
Class 1 Roads Should Have
Operating Incomes of
S 1.080,000,000, Figures
Show; Results Disappoint
In order to earn a net operating in
' come <>f 6 per cent on tho aggregate
valuation of tho railroads of the coun
? try, which lias been tentatively fixed at
$18,900,000,000, the Class 1 roads would
? have to report an operating income of
I $ 1,030,000,000, divided as follows:
East $408,000,000; ?South, $150,000,000,
! and West, $462,000,000.
Railroad statisticians figured yester?
day that, based on the proportionate
amount of the standard return earned
in each month of the "test period" of
191 ..-1917, the Class 1 roads should now
earn monthly not operating incomes for
the three traffic territories as fol?
lows:
Rsst-rn. Southern. Western.
.Tan'ia-y .. $29,1 47.000 $0,342,000 $21.773,000
February. 24.602.000 7,885,000 24,288,000
March.... 25,179,000 11,2;:,, 000 24.72!',000
Aprtl. 34,810,000 11,157,000 34,363 000
May. 40,098,000 12,862,000 39.584.000
.Tune.,42,817,000 13,723,000 42,263,000
?Julj .... 39,139.000 12,546,000 38,6:18.009
? : " ' ? 00 1 4.460.000 44,550,000
inber 47,323,000 15,170,000 46.722.000
October... 48,840,000 16,654,000 48.214.000
November. 4 ,159,000 13,83,1,000 42.605,000
iber. . ?,749,000 12,000.000 27,265,000
For all the carriers the monthly
totals should be: January, $67,262,
000; February, $56,776,000; March, $81,
I . 0; April, $80,330,000; Mav, $92,
534,000; .lune, $98,809,000; July, $90,
320,000; August, $104.144,000; Septem
bor, $109,220,000; October, $112,709,000:
November, $99,598,000, and December,
$87,113,1 '?"?
11 '.'. Ad the carriers have come from
earning a 6 per cent return on their
property valuation during and since
tii test period is known by figures
giving the net operating income for
each of the last four months of 1917,
1918 and 1919. For instance, a net op
ral ng income of $77,763,000 was re?
port? for September, 1919, compared
with what tin ? ad should earn under
rate that would give a 6 per rent re
turn o: $109,220,000, In December last
year earning fell still further below
the mark of $87,113,000 fixed by the
on act, with a total of only
$12,781 000,
:. i men said yesterday that it
??? mid ; robi bly be next year before
the carriers would begin to attain the
intendi ? under the new rate
?structure. The report? for September
lered from a superficial view
po .' nsidered disappointing in
. . the fi ' that not in many cases
;'A! bi low the exhibit a year ago. This
? e largely, howevi r, to greater
expenditures for maintenance, which
return to a more normal rate
; ? he 'mi of i he year.
-?-?-?
German Paper Below 6 Cents
, tprint "made in Germany" is
|.. ng iffered in the New York marke
h ?, al a p r i o r- well below 6 cents
At moment a single lot o
i ?' ei ?ng at between 51,
and C cents. So far it has not found
? r paper trade men said yesterday
{Investment
Information
I Questions of general interest to in- j !
! j ve*tor$ will be answered in thu col~ I
?I uimi, in which case only initials wul I
te need. Others will be answered by
mail. Address all inquiries, tneio?
? ing a ttamped, addressed envelope, te
Financial Editor, The Tribune, lil
| Nassau Street, New York City. j
Tel. and Tel.'? Funded Debt
j Question?Please give me *U ?he *v*1,?
able information concerning the bond
I Issues of the American Telephone and
i Telegraph Company, particularly Ameri?
can Telephone and Telegraph 5s, 1 '46
How are th?y secured? Have they a con
version prlvtlog?? no you consider then
a good investment??E. J. II.
Answer?The American Telephon.
and Telegraph Company has seven is
sues of bonds, as follows: Collators
trust 4 per cent, due July 1, 1929, out
standing $78,000,000, secured by $102,
909,650 par value stocks and bonds o
subsidiary corporations. Convertibl
4 per cent, March 1, 1936. The cor
vertible privilege expired March
1918. A direct obligation but not si
cured by mortgage, but will be equall
secured by any future mortgage or co
lateral trust indenture. Outstandin
! $2,589,000. The original issue w
! $1.70,000,000, The balance were co
verted. Convertible 4% per cent, di
March 1, 19:53; outstanding, $13,02:
500. Converted $53,972,500. Convert
hie at par into common stock at $1
a share to March 1, 192-7. Entire e
change may be made in bonds or bon
may be exchanged for stocks, par f
par, upon payment of $20 in cash !'
each share of stock taken. Seven-ye
convertible 6 per cent, due August
1925. Outstanding, $48,307,200. Cc
I vertible into common stock at J1
! Collateral trust 5 per cent, due Decc
ber 1, 1940. Outstanding, $77,434,9?
[ Secured by deposit of stock of si
j sidiary companies having a marl
?value at all times ol 133 per ci
j of the par value of the ?
?year 6 per cent notes, due I ebi
1924; not secured. Outstanding, ..
j 000,000. Three-year 0 per cen? i
?due October 1, 1922; not secured, u
I standing, $50,000,000. We regard
; collatei'al trust. 5 per cent. 1946, a.
j sound investment. The collateral c
; sists of such stocks as New York T?
i phone and Chicago Telephone C<
1 pany. There is no conversion privih
j Hudson and Manhattan income Bo
Question ? Please give me your op!i
regarding Hudson ?- Manhattan in
bonds, present condition and future a
pects.?W. L. B.
Answer?Hudson and Manhattan
justment 5 per cent bonds arcj cum
tive since January 1, 1920. No inte
I has been paid since 1916, the com]
j having placed the amount earnec
I surplus accourt. For 191':) the inti
was earned 1.15 times. With re
I increases in fares the company sh
? show better earnings, although ope
I ing costs are still high. The bo
I selling for about 23 per cent, may i
| very fair speculative opportunities,
j we do not, of course, recommend I
; for investment. There has beei
i recent earnings statement.
Holds Defaulted Railroad Issu
Question?Will you kindly advls.
i wheth-r : Bhould hold or sell boa,
(,A T ?ledo, Peor?a & Western Railroad
(first irti j.:; ? 4 per ent) which. matured
131, and which were not paid? I unil?r
stand the n irki t 01 lhe?e now la 4,
? you think ? hero is any fut are and
thai It la vvoi th holding them .' Also
: ??? advise. : - whethi to 1 . ! or .?'-'.I
igo, Peor?a S Loula prior 11. n
lue is : have been ottered $35
-' and woi 1er wit? ther 1 ahou :
nra.Il ? ? . pmenta. They
n ' pa Id lnti ? ? for several yeai a
ind 'I li I only a cert C th" Ecju la -
rust 1 ee I also 1 i
?. ; ;;; i.- Dea Mol
tir?t ?s, due : 92 I for wl Ich 1
. a ? n v " ? red ;, b' .'it
?>r it. Will thh : - oba b 1 be ; al I at
1 con lue??O. O. !..
\\ ?? ? ru ? you have not many i
bi n Is. If such is the case wo
'?? no particular advantage in selling j
now. ?? ra ro d iituation is better
pel ips, after all. Aie situation
1 which the first two roads you men
lind selves, has been d
'. ') he Keokuk 20 Des Moines
b 1 are guaranteed as to inti re :
by Roc! A ind. The road's
? extend? only to the life of Lhe
! on :. 1923. Whal v be done tl en
take to say. It is very
? ?' that it ma ' be 1 efi >" ed. :
grade issue,
ugh it by first mort
V,'.' should ;
awaiting bel ter re
Will Add to Good [.ist
'. r recently ha\
1 r 111 : . O % d o i
??.. Ill ?? ::
: ' . tie m H t ee i
; ? ? une Du
lit lirai ? ,1949 one
lien k 4 per 1 nt, 1950; flva
.... . ? . '.? .-.- .... .
......
. ; ?? ? ?
....
.... I to invest and i
..... .?,
?;.'... ..
- ; a t which !
I thai you f- r u
? ou ' ' ?
... ?? . it aro well seeur<
re 1 to yield a
; ? i : '
Ai -'.?'-'?? four '. st of investments i.s
; one, .iir opinic n. We see
no r a ' ' :- change. For add?
tiona ti ? ? ? 1 m?ght con ider
the : I low ?ng, yiel ling a pproximately
', per cent : We use 7 per cent
1931, Canad ?an Nial nal Railways 7
per cent equipments 1935, and Bell
- ' ? a 7 per cent
Exchanging IT. S. Steam-hip
have ' ?sol the
., ich I Intend to
r
?-,'.' transferred
..... .... 1
: ? ? ??? it the
.u>a ? or four of
r Kind ???
.-.;... : ? ? : : 10 the
Fl ?'
A. tand 1 hat to date
lim ? lui- I een t for the <
? 1 '? ?? I States ims p > ompany i
Doubtful About Bond Legacy
.
?'.?.??
... 'i- cent sil
? .linn'
. -, : SI l'a
l?a v;n City) 5
...??:. tease bond, 1923; < ra
124. I an? 1 ?'? ' I
; I r will also appreciate
10 their won
J, a !?
Vnswei Fs ? ? ( 0..'. Company
fii ?3 pei ids are well se
| . , ? ?tied to a good inve I
? . ? .- - .:. They are
Minnea
. ? ? ; a . ?. Fa :. ( ity Ra : ?
is are guar?
anteed by t . Rap i ;
; rating
ntly. Bu1 .. ?
present I tu 1 ro
bat the bonds
a.e safe en : They are
[about lis fransit 5
? :ent bond are part of the 1 'nited
Railw ays of St, Lou rhe bond is
not paying any m ? ? 1 it and is quoted
20 to 31. "i he company has r< ei
aereas rates and if you
can al rd to I ? ; nd we be
,-e it . Traction com
. ..? hav? 11 ' - - : du
y. ars. !' it wi believe ; he
?scount
I that t next move should be
Four fell column? of in?
vestment questions and an
steers are published in The
Tribune every Sunday.
Monthly Earnings
Atchison, Topeka & Santa le System
1 ? ? ? - ,- _ . .
... . . 2,921,091
I in o. 3
? : 11,452
?...?..-,
St. Louis, San Francisco System
ross . : ? Inc. $2
? -
, ..- : 11.1SS.849
!:..,"? c. . . . : : ? 6,964
American Railwaj Express
August 01 : ' ? : I - : ? s
:'.???
De tic it a ix 6.412,4*11
S m t h s . ' i - ! 7 .
Def after !5,879,381
Di f at'.:;- tax.. 42,3 1,57j Inc. 26,133,015
Lehigh Valley
S ' t. gross. $:,. 51,143 tno. I'-'.om
Bal after tax.. Dec
t ? [ne n . : : Dec 1 -
ha* groas. . 51.71 4,647
: r ifter tax.. .... ? 1
N'et op del lt. : ?- ? 1,345,307
Western Union Telegraph
,. :???. 516.414 1 $ : ? ?
'.'??-.. - 130 Di
Oper rne 1,467 :
.-? ? . . 15,"
I Xet aftei cp.. 16,71 ' : Dec 1,792,213
Oper Income.t, 13,077,974 I ?eo. 1.718,324
The Day's Bond Market
tur
U. S. Government
Transact Ions
??
194:
I ! 12
?
I '
? ? 4
. 2d 4s
.1 i
?
' '-'
!.. .
Qaotat i(.'iis
94.pi
.... , .
-
> -
.
5 -
... -,
....
Kid and Asked Quotation?
Uberi
. ' i
-? *
2d 4
? ', - ;
. ? ? .-.., ?
:
94.C in.i :
' . ..-;.?: ?
-.7 ?. ' i '
42.. 8fi.i *
28 ? 16 il
? ?
? ., y
?
leg.
194 G
. '?
101 'i? 102
, .
-
- ,
-
?
...
? . . ?
? ' - ? i
I : o ; -,
3> 10 3
? ?j '.'2
K9 0 92
. :
- up, 1 925
- ? ? ?
l'un 936..101
: ? Pan r. 1! S
2s Pan c, 1938 Hi 102
i reg. ? .s ?M
i l'an .. . 71 <T? SI -as.
i':... ?>?. 1334. ... 75 -/?s:,
P11 U 4S, ' 15 . T7 ' -
l'hll 4n, 19 38. ... 75 ? 85 7: 85
D.? .. -,
Foreign Govt. and Municipal Bonds
(Interest To l?e Added)
Hi ri Asked.
Argentine Interni i .
Bi of, 6s,
? ? ? ? 192 . ''?. ?: ?
t . .
Don don of, 5s, : -. - i
lo n .'???'. "a
do i ' ., . ' -
'?'...
llvt, Ha Kus K
?:???-. 14
a. 49 . -,
.
: ...
:
do Marseilles r Os II t
do Bordeaux 16-yr 6s I v; ?..
I i -,
? : - h linvl k?, Isl ? a ? i 3
do E'aris i - ? . 95
1 |i 2 i i 3
trig loan, 192? I ,
4 I se r ?es ? 4 %
? i ? Btrlg loan 1931
City . ?- 195:
Un K Gt 11 & li ? - ? ? : ? \
..-,,- - 94 r-s
10-yr ?'-js, 1929
r b Vss, ' ? .
M.-\ l-.v- rn atrl 15 4i
do gold 4s of 1904, 1 <
K of Itali ? ' bonds i
(Sale.v)
,:
< ;. O 5S
... '
City of i me 8a
w hen Issued
ps '
do 1931
1 000
: . a !
J V M - - Is
...
- ,
City >>r i iordoaux ? -
! -
?' i in a. Bs
10 . 99
4 '- -
X ,
?a 7i
City of ipenh I ?-. s
.101 ?,
I
of Lyon
(.?ity of Pai .x 6s
'
'
.. . 101 %
:
' ? .
4
-,
000
.
101
s f Ss
I
iO V
City f " ' -' I -
|0M. 60
4,000 ... -15
City of '' u Ich S;.
?
'
? 9
i ? 6.. ... '. - \
. ' ? ?.
2,i ...
3,000. ? -
Dom ?'an S'-ss not? 9
1921
? . 9? H
2 0 I i I - t
f.. 7 I \
? .
. 7 '.
4 ;
do 2d ser 4 ?; s
'
). .
99
d-> 1929
? ?
Q. 9iK
Jap let ?er 4M?
CO 192?
9,000. 9?H
. . 7 4 \
> ? ? . 7 4->i
4,000 , . . . 7 I ??
do si s loan 4s
15,000
i . : ? '.
10.000
I
K of B. Ig - t rVsa
J " M ?? 's
10 . . . - '9 T-.
! ?
...
; 100 . 9 .? \
do Cs 1921
5.000 ... 99 Vs
do 6s 1D25
l.ooo.eivi
' ?
. i ',
Railway, Other Corporations
p 4s Bli ??. -, " ' ? -. Ds
?
b tit Ho ! Bus!
9 ! !
Bush Ti
? if.. 71 1 ' . 70
Cen o I ? .
l.i . . v j
ri ;'.s
? "' ' ?
? .
| I
? -
f.. i
A T a F Ri-ll Is
..,'., -. ?
7 7 Ches Sa
.?7 4
'
6,000
4s
4,00f 4 ?
imp. . '
7 0 V.
Is 1965 2
....?'.". )
do 19 do 4!?s
71
74 4
M 4 3 -' - ? J
A". ' --? :. is
?
102 VC 1 14)
i-,i;
. -
. . 7 ?. ' ,
? ? \
do 1/ N 4s . ?
S.000.., ...
Itl Frull t'.) Ts
t. : i . : A .....'?:'.
12.00?....
l-i ?>.. > 6s i ?.: 4s
?
91 -\ C & Krl? lsl s
s.',
. a :? a..
? ???
.-'?'-.-'
0...... 7S
. . ?.
,' .-???? . s
,' 4 !-j s
... : 6 - \
d o g. i ! .1 4
'?"?'. ) .000
4,000. . . : . do 4
I...... S 0 4
h 4s 1934
1 \ 65 4
do Pitts 1, E 4 lo -. .' W
'-'? Vu ; < I...... 39
< ?'.-'.' ? ? ; s
:-- -, ts
- ? .. :A"
: , ; ' ' .
at Pa 7s '.' . ,
J P M re?u i
, ! C R 1 f ' gen 4.1
. ,
' ' . do - -
.... 6*Vt
4 1 . . ?'?
.
? ? ' i
- : . 77
Braden Cop 6s ' .67%
89 4 67 ?i
Bway 6 7th a v ( s C Bt P M & O ? ?
42 4 1,000
Co 6s ' Chicae ,?-?--?'?
S? r A 1949 Ser C Inl fs
1,000 71 ? 1054
? .;- T 7s do 4 H s Sei >
I. 4 7' 7 S
46Ti ' .t V. . ! i ! 4s
? ? i . : .- i i ?e ... ? '
I ... -I" to - . ? '.
do cl fs of d stpd | . . 61
6,000. 41 4 ?,l . 69
1,000...... 4041 2.000...... 5S
....
' ( '
? '
? 000. ...
mo....
C . .'.
I
' ...
: :?
; ? er ? j Lake S 4-! 19.11
....... 71V ' )0. 82
- . S.OOO . . S3
' , :-!?'.':! Va 6a
1.000.S8%
nmi n ru ? ? .... s s 1.4 I
84 ? do con 4%a
?. ' 1, gen 4s ..80%
. . . ? ! . 60%
5a 2.noo. ROT* I
PS 1,000. 80%
. 80%
L< h V of l'a 4a
:.. 7,000. 71*4
, Liggett & M 7a
4 M . .105%
'. 10,000 . ?i?,
10! ' 10.000 . 81%
Lorllla ?? l i 'o Cs
7 0O0. 81%
,?, A ! n i. 81%
"!Lou .-. N'ash 7m
6.000.104
i '.1 0 3 74 :
, .. ' .104
do 5s 1931
< . A 4,0 . 83
*| do unified 4n
'?" . 81'4 !
lf?4 , do ? t L ?'.-.
.99
.53% ,
do 3a
-, oon. r?i
1 ? . 61%
, L A- N So Hy jt 4s I
B? | 1.000. CS
.Muni-.;.:, Ry 4 s
1 . ... 67%
Ml h lie Steel 5s
1,1 i '. 7 6 s; .
? i i ...78%
2 .77
Minn .-. St I. 4h
I . 44%
?. 441.4
: ? ? : . ' ? f|
? ? ? ? *
r. 1940
... SO
Detr T 1%8
1,
44
do
I
M at 1' t S 8 M 6s
. 90%
M K & i i It la 5 s
... 71%
? " M K & T 1st 4a
. ?;? A lo.ooo. c2
< i . 6 1 % 1
4 6 % do ex I .' s
;. r J? ; 5,000. 32% :
4 2 Mo Pac 5s 1928
1.000 . 86% :
86 do gen 4a
1 000 . 58 % I
97% 2,000. 68% '
97% Nat l; - Mex ?a
10 000. 28
80% Nati Tube f,s
2.000 . 89%
' ? '- N i .-. ,?. -, E ref &
imp i js
Mori 4
? - f?
? ? :
N ! ?i
N Y
A Mex 5a
. ... 69%
91%
.1 1' M le.:ni ret
12.0 i.102
'
.' i.
102%
I 0 7 \
! 0 2 \
?: \
'?' -1 ! -j
?
?
Inl
tntl
? 59%
1 i
' S %
N T ?' a St ;. ,11. 4a
: 7!
N Y t?as E L It &
l'o'.s ? ?? p m ?h
.66
N V N 11 .?? 11 6s
2 00 . . 76
i ! A
do ?, . db 4a 1965
. : : :. j ? ,
do ?:? >? -is : ; :?;
' ? ' ? '? A
. N V ,'. North 5s
10 100.. 93%
N Y rtys a 1J 5s
do ' " - dopos
i :?'.... 6 % !
N Y O & W 1st 4 s
, 20 !0U 63
, N Y St K\ :. ron ? ;-.-s
) .... 58
? N- Y Sua | S. \V gl 6s
2.000.. .62%
N" Y Telei h Ts
1.00). 92V4
do ?
F . 3 000.7 7>2
? ? ? N Y W & Un 4 V4 a
k \ 7,000 . 47
. 'entra 5a Norf i;-- :? s?r A
) . 75 1.000. 59
i Norf a- W cv 6s
.... 4 '-: 1,000.104
... 45% do Lori 4 s
.....45% S,O0O.Bl5f.. 76%
' ? . .... 45 11.000. 76*.
.'. .' 4a 2,000. 76%
;?'?, do dlV 4s
City So ?9 1,000. 77
9.000... 74 2,000. 7 6 %
2,000 . 76 44
?. 76%
Nor Pu .:. ' 4?
7 ""P . 7" -,
2,000 . "7 -\i
.'... :. ?,000 . 7 7 '4
. . j. 7 3 % dos
Keofc * [lea M 5s l.?00. 55%
1.000. , 7 5-4) ' ,000. 56 ?t
Lack 8tl s Ij?O Nor Stute Pr 6?
JA'vO...... 78% 1,000...... 80
J-v,
!?: a -.
?6 %
8 s i
Ontario Tran 5s
^.000 . ... 04
Or * c ,; isi rja
1,000. ... . 88
3.000. .
Or P.y & N
1,000. 7
Or Short I.lne C?
8,000. f.? ?.. i
2 000 98 ~
Or-W RR ?"x%s
4,000. [pi
21 000. 73 4
10,000... 7 !
Pacififl r; ,<- k - ?
so',;
''?? " ' ? '.' 5-4
2.00 0.
4.000
: . o io
t ooo ? '?
1,000
r.o.ooii. ^
,000.
?
70 '
Pa<
6,000. ,.U i-,
I ' "
60.1 ..3134
12,0
61,000.
6.000
10.000. . ,
I 90 .
18,000 .
2 113 0
2.000 .
' : 00
du tfg 4s
16,000
1,0 I
- '
do col la
1.OU0. Ml',
2.000. 734
of -Mo 1st 4?
- 00. . . . 7G4
Penn 7s 1930
7.000.i05 |
1,000.; 04 4
4 00.105
6,000. .... 1057/4
16,01 -a . . 1014
.105
2.000.1044
d-> 5s 1968
' ' "'. 914
? 00 . 91
10.000. go?
4,000. 91 ,
2.000 . y) y j
do gen 4 4s ?A.
'- 000. 112 ! i.uuu. .
4.000.81% Southern Ry
do con 4 4s 1.000.....
6 000, . " .90 : '''? ?
do 44s 1921 1.060
? % : do 4s Mob &
1.000 ,.'. 9S "
do 4-4 ?'..43
2,000. 82
Peo Cas .<: .'ol<e of
Chicago 5s
10,000. 68
Peor?a .?- H 1st 4s
2.000. CJ
P?re Mar?i 5s
1,000. 84 4
4,000. 844
Thlla Co 5s 1922
3.000. 9 9
Pitt C C & St l, 44s
Ser A
'' n.8 5 4
. 864
do 4s Ser Q
4 00". 824
Pub S-r of N J 5s
? a"i ?"?'. 67
10. ..... U64
Read .-...< gen 4s
il,ont ... so
2,000. S6 Va
: " ?
- ?.
2 a
34000 '. '.'. 61
Ptan Mil rig 5s
1.000
T?nr. . ' I S a*
5 000 .
Tex a Ps ;.:? ?
Third \ .??:?
I
Toi Pi r, & W
7a: - .
Cn Pacido ,
'.
1 -?
1.0! ? [
do
! '
2"V
I;
'
'
0.0rai. s ?;
2,000. 8 6 ?.
6,000. 864
do C N J 4s
2,000. 92
Repub I & S 5s
1,000. 86 4
Rio ? - W - ? 4s
1,000 ?4 4
P. I A -?' * Il 4 -
| 000 . 67 K
do rfg 4s
T'n Rd of r- 1' 4 :
1,000. 31
d o ,???-. r
8 000
V S n'. h I y & 1 !
- '?? .. - i ?
. . 81
2,000. 304
? Rubber ' ' m
; i _ .
0
St I. 1
3,000
i , i .,
Ml
4s
72 4
?2.000.. . .
. - . . . . ???
t. 000 . 7 2 41
I. ,?. S !?' 'j Ser A!
" l 0 . .
I I
I 4
! 3
3o 6s
. 6 !
4,000. 6 : : -.
4.000. fi 4
o 5s Ser B
2. 00O. 7 7
o 6s Ser C
2 000 . 884
i
11,000. e?
; 10 . ?'" 4
9 000 . . ' ' ;
U S Steel s f
'
:
00
' i
9
do . a ?
I 00
?
2,01 '
I 000
'
4
50 4
?
? a
0 4
?
17 " '
I '-COI
Ctah : ? r i
3. 00 0..
Ctica ft '?', R 4s
?
Va Car i 'hem F i
6.?O"
Va li
&
-, ?
I0,0i )
4000
2.000.
St I, Sw T
3,8*9.
do Isl 4s
1.0901_
do con is
1.000. 64?
Pin An & A P 4s
1.C00. 63 4
St P i Kan City
Plier- l.'ine 14?
S,000. 68
2.000. 6*4
10 - 10. 68
15 ooo. c:4^
" "i^li^li^lH
? ir.4 West Ma land -
5 o ? 5-00! 5 7 ?;
" * W??t Ps
i? ? 010
1 000 ?4 4
... ^est Ele. tri
63 v j jog ., -
c? i Westingh FI 7s w i
15.1
1,400
?
2" 'iQsl
000 ...... 95?i
B 000
00 '...'.
11.000 ..954
95 4
3 0 0 0 ,
W-?- - ire li
3.?91. 724
? . 7 2 "s
_^_W 3 - ' 7 1
___________________%" +
1:3,0 0 0. 4 " 2,000
1 000 . 39% WllS' n ( '> v 6s
i ?59. 394 8,000 . 83
a A T 6?.. . 4.0?<S__________\__\
Seab Air Line 4s
stamped
1,000. 55
do u ! 6S
2 003. 4041
; 000 . 404
1,000..
3,000.,
814
Il 41
T\?99. 86%
i New Issue
j
United States
Treasury 534% Certificates !
Dated November 15,1920 Due May 16,1921
I !
Free from Federal Normal,
'aria State Income Taxes
t
i
THE Treasury Department ?3 offering an issue of
$200,000,000 or thereabouts 524% Certificates, matur?
ing May 16, 1921, at 100. Subscriptions to this issue may
be made through any Bank or Trust Company,
i | j
We shall be pleased to receive
subscriptions at the issue price.
DISCOUNT HOUSE
or
SALOMON BROS. & HUTZLER
Member? of the New York Stock Eichang?
New York Office Boston Office
2 7 P i n e S t r e e t 35 Congress Street
TELEPHONE!?JOHN' C30O TELEPHONE?FOKTHI) L6640
NEW ISSUE
Exempt from Federal Income Tax,
Including Surtaxes
$142,000
City of Elyria, Ohio
6% Direct Obligation Bonds
Dated Nov. 1, 1920. Coupon Bonds. Denomination $1,000.
Principal and semi-annual interest (May and Nov. I) pay?
able at the United States Mortgage & Trust Co., New York
City. Legality to be approved by Messrs. Squire, Sanders
& Dempsey, Cleveland, Ohio.
FINANCIAL STATEMENT
Assessed Valuation .$34,896,800.00
Total bonded debt. 2.223,794.61
Water Debt .$1,357,500 00
Sinking Fund .193,202.26
Net Debt._ 673,092.35
MATURITIES AND PRICES
$23,000 Annually Nov. 1, 1923 and 1924 5.75% basis
23,000 " " 1, 1925 and 1926 5.60%
23,000 " 1, 1927 I _ __~ ?
.27,000 " 1, 1928 \.baU ?
Descriptive Circular ou Request
Stacy & Braun
5 Nassau Street
Toledo NEW YORK Cincinnati
Stone & Webster
INCOBPOKATED
147 Milk Street 120 Broadway 33 So. Dearborn St.
BOSTON NEW YORK CHICAGO
EXAMINATIONS AND STUDIES
of Industrial and Public Service Properties
REPORTS
on Valuation and Operating Efficiency
Decline in Wheat
After Withdrawal
Of Export Buying
Vaiues Slump Almost as Fast
as They Had Risen on tin*
Previous Day; Canadian
Receipts Apain Are Large
Prices in the wheat market during
yesterday's Bession declined about as
rapidly a? they had advanced on
v. Inesday and final quotations were
6Hc to T'tc net lower. The British
scmmission, which has re?ntered the
market after a long; period of inac
I tiTity and which took from 1,000,00'? to
2,000,000 on Wednesday, again with?
drew, and the foreign buyers were evi
dently not inclined to follow tha ad
. anee.
T is was a disappointment to the
trade at large, which had been an
;'..,; a better business with the
United Kingdom, and icnga who
.. :: Wednesday's advance sold freeiv
ighout the session. The March
n in Chicago declined to a i
low record for the season, but the De
. n I er contracts held abo.,, the ; re
low level and the December pre
over March widened about a cent
a b -??el.
C luntry offers were not large as far
as the American markets were con
?erned, and cash premiums were i I y
ly firmer. Canadian receipts were
li.rge, however, arid continued pi
fi( ?:. 'hut source was anticipati : M
the close of the day it was tl
British buyers might aga:/; accept
overnight offers, and it was the co:j
of opii on thai the force of
prices in the immediate futura will de?
pend on the attitude of the ::
I uj era.
In the local market No. 2 rt-d and
No. 2 mixed were quoted at $2 08 t. i. A
? .New York.
Neto Lote Records
Again Made in Corn
N'ew low records were establ
. 'he corn market and closing quoi
: were 2%c to 3V4c net lower. (
? sion houses were liberal sellers through?
out tiie day in the face of co
light receipts and the market felt the
influence of the decline in wheat as
well as reports from the West that the
cold weather was bringing out In?
creased offers fr?m the country.
In the local cash market No. 2 yellow
was quoted at $1.0994; No. 2, mixed
$1.08 m. c. i. f N'ew York, 10 days' sh p
ment.
Yesterday's Previous Tear
New York: . ?.. ,?. ai ,
- ?-? H.09% s . ? ;:??..
bor .T6U .79? i -?V-,
.?lfc ,i/, :.-.'?
Oats?Cotrirelwlon hnuset were Uber?J
? tiler? ?f eat* throughout tl^p day and
1 '
.
Bye
New T -'.
v
1 'mir nnil M<
Spring ?
Ry? n
Batter
?
< lieese
Kgg?
?'
-
?
state
- >
.a
. ra?, 8 6 ?81 o;
?ta . ?
I ?restock. Meat-, Prorlsloiui
".?. Tear a?n
? - to
I
I> r ? m - ?
'. ?
- .u>,
. : . . 9 : ) 0 ?
.
. - '?
I... ew . 10*
; os 5 ios * ' '
? -
.10? .?? .!?5 .1?
a, fair
t i pri -. : I )
1!.S0914!I
Dr
- I
-
. ?; a.
?
V.. -. . ?
Mesa beer, bl . '.
Um:. Middle
West, 100 lbs.. 19 40 *.?.?? tf.??OS?.?l

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New-York tribune. [volume], November 12, 1920, Page 15, Image 15
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924