Newspaper Page Text
M11SIBBUU.U.1? r] ~~ li City of Detroit 5%, 554%, 5#% j and 6% Bonds. Maturing 1922-1951 Prices to yield 5.75% - 5.20% The National City Company Main OflVo- National City Bank Building fptown omce: Fifth Avo. & 4Jrd St. Sidelights on the C, B. & Q. Joint 4s Activity Stability Security,?change since 1901 Write for* Circular Founded 1797 Seasoned Investments 30 Pine Street, New York White,Weld & Co. 14 Wall Street New York III Devonshire Street Boston Investment Securities H Stocks Corporation and Muni?pal Bonds MK1TBER8 OF 19ew York Stock Bxchangt Boston Stork Exchange Cleveland Stock Exchange 'hi.ago Stock MecHcmge Detroit Stock JBxchmngr ?few York Cotton Hxchanga Chicago Board of Tradr. Otis & Co. ?it BROAD ST^N.Y. Phone: Broad 2121 Gsvelaa?1 Boitoa Detroit Gaciamti Csindnu Tele?!? Akron Teoagitewa Dourer Colora?*? Spriags Robinson & Co. Investment Securities M Kwchaif PUoe Nerw Yes*} M*mbsr? if?w Tttrk Stock timchmf 1 Willys Corporation (AH Issues) C. C. Kerr & Co. 2 Rector St. N. T. Psoae 6780 Rector W//s////y/ss/////7s/////r,v//////rs/s//s//////s//s///////. Mechanics & Metals Nati Bk. Guaranty Trust Co. Bankers Trutt Co. r\1nCLURE,JONES&REED Members New York Stock Bxchang* 11.1 Broadway Phone SS21 Iteetur Prices Lower As Result of Strike Outlook j Sterling Higher, However; Drop in Boston Dis? ! count Rate. Is Made After the Market Closes In the domestic financial markets ' yesterday the apprehensiveness of ? traders over tho impending strikt! I in Great Britain to-day wns ex ? pressed in lower quotations. Despito j marked irregularities of trend, average ! prices of Industrial and railroad stocks : declined and commodity quotations ! shrank. Strangely enough, no evidence of | fear was revealed in the fluctuations of sterling exchange, whicM after its weakness on previous days recovered ! a ?lent to the pound and Imparted strength to the Continental exchanges. ? This display of steadiness in this highly ; sensitized market was interpreted by i some as a reassuring factor. The ac ?tion of sterling exchange evidently, re ! fleeted an attitude in financial London which was cabled over to ono of the : international banking houses. "There ? is still a chanco that railwaymen and ? transport workers' lenders may coun ' sel moderation," according to the mes ; sago, which added that if a strike was executed it would probably be "half | hearted." However, professional speculators in ! stocks, who dominated the market, used ? the disconcerting probabilities in Great : Britain to facilitate their drives against j securities. Although weakness was j ? fairly general, the railroad stocks were | | most heavily sold and the averages of j twenty railroad stocks and t?n rail- j I road bonds slumped again to the lowest! | level of tho year. The sugars and the , ! steels were the special objectives among the Industrials. ' Call loans were made at 7 per cent throughout the day. The most signifi | cant development of tho day became j known after the market closed, and j ' related to credit. The Federal Reserve ] ' Bank of Boston announced a reduction ? ? in its discount rate on commercial paper from 7 to G per cent. Since No? vember, 1919, when the Federal Re ' Serve Board and the twelve regional banks began their campaign against overexpansion, this is the first time that a bank has shown a sign of re? laxation. The action of the Boston bank is doubly significant because it was done with the approval of the control board of strategy, the Federal Reserve Board, which sits at Washington. As a matter of routine, all^ changes in discount rates must receive the sanction of the board. It is not surprising that Boston should take the lead in the reaction from restrictive credit measures, be? cause the New England district was among the most to deflate and to suf? fer depression. Recently an improve? ment in the textile, and shoe trades has been reported, and this betterment has evidently made it possible for borrow? ers to a greater extent to pay off hitherto frozen loans. Many expected the Reserve officials to wait until the Bank of England cut its discount rate from 7 per cent. The bank took no action yesterday. The directors of the Boston institution | .were not looking across the seas for leadership, but kept scrutinizing the ?t?te of the bank's reserves. Boston's action presages a general cut in dis? count rates, but not necessarily at once. The action will unquestionably have a stimulating effect on business ? men in the Boston region and else? where. It comes as a messago of cheer i from bankers to men of commerce. It I does not, however, by a stroke of the | pen solve pressing problems of re I adjustment. Money and Credit Call money loaned at the Stock Ex? change yesterday at 7 per cent all day. One of the reasons for the recent ad? vance in rates from below 6 per cent j is the resumption of government with j drawals from the banks. Yesterday withdrawals amounted to $47,000,000. Yester- Year day. ago. ,1 On mixed collateral. 7 7 ? On industrial collateral.... 7 7 I Time money (mixed col? lateral): Sixty days. 7 8@8% Ninety days. 7 8(3)8% Four months.7 8?8% Four to six months.... 7 8@8% Bank Clearings ? Bank clearings at j New York yesterday were: Exchanges, | $576,273,758; balances, $01,123,164. Silver ?London, 34%d; New York, ? domestic bar, 99%c; foreign, 58??c; ? Mexican dollars, 44%c. ' The Dollar in Foreign Exchange Despite disconcerting news from | London on the Britisli industrial situa : tion, foreign exchange ra|es improved j steadily yesterdav, sterling advancing I a cent to $8.09%. The Italian lira provided the fea i ture of the market, however, climbing ] to within a short distance of 5 cents. i The leu was slightly higher, and the i Portuguese escudo recovered strongly. . Rates on European centers moved irregularly within a narrow range. The Greek drachma, continuing its decline, dropped under 7 cents. South American and Far Eastern rates were little changed, although the Chilean peso dropped still further, being quoted at eight to. the dollar. Changes in foreign exchange rates EUROPE Tester- Previous Tear day. day. ago. GREAT BRITAIN (par 44.86 a tioverelftn) Demand . 3.90% 3.89% 8.95% Cablea . 8.91% 3.00% 8.96% 60-day bills. 3.87 8.86 3.90% 90-<iay bills. 8.84% 3.83% 3.88% FRANCE (par 19.3 .-entB a franc) Demand . 7.13 7.08 6.21 Cables . 7.14 7.08% 6.22 BELGIUM (par 19.3 cents a (ranc) ?? Demand .'.. 7.40 7.85% 6.St Cables . 7.41 7.86% ?.62 SWITZERLAND (par JS.3 cents a franc) .Demand .17.30 17.2S 18.11 Cables .17.33 17.30 18.18 ITALY (par 19.3 cents a lira) Demand . 4.89 4.74% 4.44 Cables . v89% 4J5 4.45 HOLLAND (par-40.^ cents a florin) Demand .34.65 34.51 37.128' Cables .34.G7 34.59 87.25 GERMANY, (par 23.8 rents a mark) Demand . 1.68% 1.60 ?.75 Cables . 1.5? 1.60% 1.77 AUSTRIA (par 20.3 cents a crown) Domand .29 .30 .50 Cables .39% .30% .52 NpRWAY (par 20.8 cents a crown) i uieraand .?e.os 16.05 2C.40 Cables .16.10 16.10 20.65 SWEDEN (par 26.s centa a. crown) Demand .23.83 23.70 22.15 Cables .23.88 23.75 22.30 DENMARK (par 26.8 cents a crown) Demand .1S05 18.00 18.65 Cables .18.10 IS. 05 1?.80 SPAIN' (par 19.3 cents a peseta) Demand .13.90'i 13.91 17/6S Cables. 13.92% 13.93 17.65 PORTUGAL, (par 10S.05 cents an escudo) Demand . 9.1?% 8.75 16.nj. Cablea . 9.37% 9.00 46.31 GREECE (par 19.3 centa a drachma) Demand . *.?? 7J6 11.25 Cablea. 7.0o 7.20 : I 16 POLAND (par 23 s conta ? mark) i ' bloi. 13% .13% .64 CHECHOSLOVAKIA (par 80.3 centa a oro WH) Transactions Yesterday in Listed Stocks Summary of Stock Exchange Dealing? (Copyright, 1921, New York Tribune Ire.) STOCKS Ye.sterdny. Railroad stocks . 91,000 Other Ktocks . 465,900 AU stocks . 557,800 V. S. government bonds. Knilrond bonds . Other bonds . Yesterday, $4,655,000 1,641,000 2,010,000 Day Yenr .Tnnunry 1 to date, before. hito. 1921. 1920. 1919, 94,600 276,500 11,086,700 21,246,300 14,270,900 358,200 1,047,100 36,384,500 60,801,400 44,821,300 452,800 1,323,600 47,971,200 82,047,700 59,093,200 January 1 to date. All bonds . 8,312,000 RONDS Dny before. $5,576,000 1,316,000 1,737,000 8,629,000 Year aro. $13,649,000 2,136,000 2,526,000 18,311,000 1921. $583,126,000 131,211,000 144,981,000 859,313,000 1920. $783,221,000 158,194,000 175,823,000 1,015,238,000 Record of Stock and Bond Average? (Copyright, 1921, New York Tribune Inc.) STOCKS Yes ter- Day dny. 20 Railroad stocks. 59.25 30 Industrial stocks. 73.33 50 Stocks . 67.70 10 Roilrosd bonds . 73.43 10 Industrial bonds . 83.08 5 Utility bonds . 73.45 25 Bonds . 77.30 before. 59.95 74.17 68.48 Year ago. 65.10 104.00 88.44 Range Jan. 1 to date. BONDS 73.56 83.06 73.80 77.37 69.91 88.07 72.60 77.71 nigh. 65.6Q 76.80 72.12 76.23 84.53 73.70 78.41 Range full year 1920. how. 59.25 71.70 67.06 73.43 82.00 70.13 76.31 High. 73.80. 11O.30 92.05 76.97 91.45 74.63 81.71 58.80 67.67 64.30 66.73 81.30 67.44 73.94 Net Sf.' ????. S.V.. Sale,. Open. HiSh. Low. Cto.e ?hf* Bid. Ask. 26'i - Adanw Exprea?. 500 29"2 30 29'/2 30 +2'/? ?? 1 Adrance. Rumely ... 200 16% 17 16% 17 f AJax Rubber . 200 32 32 32 32?1 Alaska Juneau . 200 V/z Ha 1'/a c/8 AllVrd Chemical .... 500 43% 43% 43'/a 43s8? AlHs-Cholmen? . 1500 36?/4 36' s 35% 35%? Amer Aer Chemical. 1300 46T8 47'8 <!6% 47 ? Amer Beet Susar ... SCO 38 28 37'8 37"8? 400 567s 567/a 56% 56%? 900 28>.'a 28'/2 28'/4 28 600 121 122 121 200 111 111 111 35 19% MKa 1% 55' '2 38% 63 51 63 32% 127% 120 114 110 14'/b ? 25'/a ? 38% 4 29% 4 45% ? 36'a ? 491/2 5 25 ? 12 7 29 205? ? ZV/* 19'/4 ? 133 120 8 11 S ? 531/4 40/2 ? 53' 'a 42 4 45% 38'2 ? 88'2 81% 0 10 5% ? 14 6% ? 4 Amer Boach Mnr American Can . Amer Car & 1'dy do pf 17 171/* 32 33 1'/a 1% % 43'/2 ^35? % 35% 36 % 46! n 47 ^4 37 38 66% 50% % 28'/a 28"/4 121'/?? % 120/2 121 111 -f % 109 Amer Chlc?? * '.'.'.'.Y. '. 200 21% 21* 21% 21%- % 21'/2 24 Amer Cotton Oil . Amar Expresa .A 200 124'/?. 124'/2 124', Amer Hide & Leath.T 1200 8% 8% 8 do pf. 200 42'/8 42% 200 50t 12?0 411; 1200 2100 1600 44' i 347 67 63 6 31% 28% 3 96 88 7 88 71 8 IO8/2 95% ? 123% 112% 12 120% 110 12 75/4 57 7 39^2 29% ? 32 25 6 40% 33% ? 3'/a 2% ? 84% 77% 6 06' s 78 7 76 30% 10 18% 17 94 Vi 37? 54 35 C3'/( h-; 10 6 Amer Ice Secur Amer Inter Corp . . Amer Locomotive '. Amer Safety Razor. Amer Ship & Com . Amer Smeltinz . 3 100 do pf A . 100 Amer Steel Fdry- 600 28% American Suirar .... 3700 89% Amer Sumatra Tob.. 4900 73 800 20% 20% 20% 20/2? % 20 . 20% 124%? 2% 1241/2 127 8 "_ \/a 8% 8% 42% 42% f % 42 43 50% BO'/a-f- Vz 50% 51 41 41 ? % 41 41% 83% 83%? 1% 83% 84 5% 5%+ % 5% 5% 7% 8 - 7% 8 383,4 39%? % 38% 39 63% 65%+ 1% 63 66 28% 28%? % 28% 28% 88% 88%? 2 88% 89 72 73 - 73% 73% 84% 5% 8% 39% 653? 50( 41% 84% 6% 8!'8 39% 65% 28% 90 73 Amer Tel & Tel....'. 12C0 105% 105% 105% 105%? % 1053% 106 American Tobacco do B . American Woolen ... Amer Writ Paper pf American Zinc pf. . . 500 114 114 600 113 113 5400 71% 72 200 31 31 100 27 ? 1'/a 112/2 114 1 112 112/ Anaconda . 3200 3S% Asaeta Realization ... 2C0 3 Atcli, Top & San Fe. 3300 79 Atlantic Coast Line. 200 78 Atlantic, (?ulf & W I 20700 36% % Atlantic Petroleum . 100 17 27 38% 3 79 78 363% 17 7 *" Baldwin Locomotive.. 22700 84% 84% Js 6 14% 20 183s 64% 45% 77% 7% 50 119% 43% 96 32% 88% 62% 6% 6% 9 20% 31 46% 71 82% 30% ? Baltimore & Ohio... 600 47 4 do pf . 23/i, 2'% Bnrnsdall B . 100 26 63% 5 Beth Steel Class B... 9600 635j Bklyn Rapid Transit. 600 do ctfs ..' 200 Booth Fisheries Co.. 100 Burns Bros . 200 Butte Copper Sc Zinc 200 Butte & Sup Copper. 500 Butterick Co . 200 33% 100 47% 47% 47% 47% 10% ? 6% ? 4 ? 91% 81% 10 4', 10% ? 14% ? 11% ? 54 6 25 ? 68! 2 7 4% 2 ?41% 2 103% 10 31% ? 68% 7 23 2 64 10 5534 4 1 ? % ? 7% ? 15% ? 23 ? 36 ?? 60% 5 70% 58% 8 28% 22% ? 68% 7 9 ? 19% ? 19 ? 19 3 5% ? 34 7 66 V, 6 Caddo Oil . 1500 1238 7% 4% 87 4% 11% 17% 16% 26 54% 12% 7% 4% 87 4% 11% 18 11%? % 11% 11% 18 + % 17% 18 17% 16% 163/4+ % 16% 17 California Packing . 1G00 54% 54% 54% 54%? % 54% 54% California Petroleum 5200 43% 45%. 43% 44 - 44 44% do pf . 1000 74% 75 74% 74%+ % 74 76% Callaban Lead & Z. Calumet & Arizona.. Canadian Pacific . . . Central Leather - do pf . Cerro de Paseo. Chandler Motors .... Chesapeake & Ohio.. Chic & East 111. 203 5 5 5 5 - 20 J 43 43 43 48 + 2 6'00 111% 111% 108% 109 ? 3 2600 33% 33% 32% 33% + 400 69 69? 27 47, 47 1083 33'/ 5 43 109 34 600 19C0 200 5C0 do pf . ... 2100 27 78% 58% 1 1% 7% 15% 58%? 1 ? 75 12% 23% 27% 25 12% 62% 63 12 8b 21% 5 76! Chic Great Western. 200 do pf . 000 Chic, Mil & St Paul. 900 24 do pf . 300 36' Chic & Northwest... 600 61! Chic Pneumatic Tool 100 Chic, R I & Pac- 1900 do 7% Pf. 700 60 27 77% 58% 1 % % 7% 7'% 15% 15% 237'8 24% 36% 36% ?h;le Copper . 2;00 Chino Consol Cop .. 1000 Coca Cola . 1400 Co! Fuel & Iron ... 200 Columbia Graph .... 1000 do pf . 2C0 41% 41% Columbia Cm & Elec 400 '/8 62% 25 70' '2 11 22 26 29 6% 58% 1 1% 7% 15% 24% 36% 61/g 60% 60%? 1 62% 62% 62%? 1 24% 70%, 107,^ 2V-R 25% 20 6% 41% 693/4 |- 34 69% 71 27 ? % 26% 26% 77%? 13.? 77% 78 58 % % 7! 15!, 233a ,2 58% 1% 1% 7% 15% 24% % 36% 36% 25 70! 11! 22 26!, 20 63.? 24 %? ' 701/2? < 11 ? I 213.;? : 25%? ' 29 + 6% 41%? 60 62 24/s 70/ 10% 21% 25^ 61 65 25 70'/ 11 22 59! 8 59% 59% 59%? 6% 2% Consol Distrib . 200 7% 7% 6% 6% 77% 7 Consol Gas . 700 84% 84% 84% 84% + 17%? Consol Textile . 200 18% 18% 18% 18%? 1 _ Continental Candy .. 500 1% 1% 1 1% 65 4 Corn Products . 2400 71% 71% 71 7 1 . 32% 25% 2% Cosdcn & Co . 400 27% 27% 27% 27% .'7 _ _'? _'* ? ... ~. ? nnr-nn or, OO TO.T. Of? _ 29% 6% 42 60 7 84 18/; 1/f 71 Vt 107% 73 33% 21% 26 67% 102 4% 18% 690 '/a 18% 60 90 1% 10% 640 65% 52 14% 21% 15% 75% 88 90 163? 11% -- 17 ? 11% ? 48 8 76% 8 79 10 . 11% ? 20% 1334 ? 534 1% ? 713/4 40% ? 62% 54 6 138% 120/2 16% 12% 71% 66% 70% 63 44% 34% 85 72 79% 6C% 32/2 28% 24 18% ? 36% 28% ? 60% 54 4 20 15 ? 83% 59% ? 15% 11 % 1 91- 85% 7 Crucible Steel . 39600 82 82 7934 80 ? 2/ Cuba-Amer 8ug-?r .. 2600 23% 23% 21% 22%? 1% Cuba Cane Sugar .. 4400 20 20 18% 183/8? 1% do pf . 900 61% 61% 60 60 ? 1% Del? & Hudson .... 5400 92% 93 90 91 ? 4% Den & Rio Grande pf 600 1% 1?? 1% 1%+ % Dome Mines. 4600 18% 18% 18% 18%? Vt East Kodak . 10 673 673 673 6/.1 Endicott- Johnson Erie . do 1st pf do 2d pf. Famous Players 6% 39 59% 63/8 83 18 1 71 % 27% 27% 79% 80 223/4 23 18% 18% 68 60/ 90% 91/ 1% m 18% 18*? 650 6S0 2200 61% 61% 60% 60%? % 60% 61 1000 11% 11% 1134 1l%? 200 1734 1734 17% 171/2? 500 11% 11% 11% 11%? 16C0 69 % 71% 69% 70%? do pf . 200 863/4 863/4 86% 86% Fisher Body Fisk Rubber Tire Freeport Texas . Gaston Williams ... General Asphalt - General Cig-ar 100 85 1200 15% 500 15 300 1% 22100 60 100 56 85 85 85 15% 15% 15% 15 15 15 - 1% 1% 1% 60% 583/4 593/8. . 11% 11% % 17% 18 % 11 % 12 % 70% 71 % 8634 87 85 90 Vz 15% 15% - 14% 15% ?/a 1% 1% 1 59% 69% 56 56 66 r- I/a 66% 7% 153% 37% 6% 16 5/a , 834 ? 29% ? 3% ? 10% ? ICO/2 81 17/ 6334 38 16% 64% 75 26 4r8 26?-? 12% ? 46% 6 30 ? 13% ? 43% ? 70% 6 16% ? 3% ? 18% ? 52 45% 4 49% 35% 4 21 16 ? 173% 8/4 ? 68% 47% 6 General Electric Co. 2700 134% 13434 133% 134%? 1% 134 134% General Motors . 15400 13 13% 12% 13%+ % 13 13% do pf . 100 71% 71% 71% 71/a- 71 71% do 6% deb. 200 67% 67% 67% 67%- 66 68 Goodrich, B F. 1600 38% 38% 37% 37%? % 37% 37% do pf . 200 75 75 75 75 - 74% 79 Great Northern pf... 5600 67 67% 66% 66%? % 66% 67 Great North Ore sub 400 29 29 2878 23%- 28% 29 200 223/4 223/4 22% 22%- 22 23 300 29% 29% 29 29?1 29 30 700 55 55% 54% 54%? % 54% 56 Hendee Mfc . 3700 19% 22 19% 19%+ 3/4 *9/2 20 Houston Oil . 600 76% 78% 76% 78%+ % 76% 78% Hupp Motors ....... 300 143% uVz 143^ 141%.- 143% 14%. Illinois Central . 200 87 87 87 87 + % 87 88 ?0 Indianern? . 600 6% 5% 6% 5%- 5% 6% India Refining . 400 9% 9% 9% 9%? % 9% 9% Inspiration Copper . 500 33% 33% 32% 32%? % 32% 33 Inter-Cons Corp .... 200 4% 4% 4% 4%? % 4% 4% do pf . 160O 12% 13 12% 12/a? % 12% 13 Inter Harrester _ 2100 87% 87% 86% 86/4? 1% 86 87% 1600 13% 13% 13% 13%? / (Jreene Can Copper. . Culf States Steel Hask & Bark Car. Inter Mar Mar do pf . 500 49% 50 600 34% 34% 400 14% 14% 16700 60% 61% Inter Motor Track.. Inter Nickel Inter Paper do pf stpd . 300 72% 72% Invincible Oil . 8600 193/4 20% Island Oil . 4500 4% 4% Kansas City South.. 600 24% 24% 24 do pf . 100 48% 48% 48' Kelly Sprinsrfleld Kennecott Copper Keystone Tir* ..., Lackawanna Steel 1500 40% 1900 19% 5600 15% 407j 19% 157/, 3600 47% 48 48.60 48.75 47.50 48.00 Demand . 1.8? 1.41 1.60 Cables . 1*0 1.43 1.65 JUGO-SLAVIA (par 20.3 cents a crown) Demand .71% .71 .68 Cables .73 ."l1^ .70 RUMANIA (par 19.3 centa a leu) Demand ....... 1.70 1.69 1.75 Cables . 1.71 1.70 1.80 FINLAND (par 19.3 cents a mark) Demand . 2.8? -.37 5.60 Cable? . 2.3S 2.40 0.70 FAR EAST CHINA (ShauRhal par 106.S9 cents a taei) Demand .?16.7fi 60.75 128.00 Cablea .67.37% 67.37% 128.60 CHINA (Hoiifr ICung par unsettled) Driuand .1,0.00 60.00 93.00 Cables .60:6? 60.60 93.10 JAPAN (par 49.8 cents a yonl Demand .48.25 4S.25 Cables .48.50 48.50 INDIA (par 48.66 cents a rupee) Demand .26.00 26.00 Cables .26.25 26.25 STRAITS SETTLEMENTS (par 56.8 cents a dollar) Demand .45.75 46.76 - Cables ..46.0? 46.p0 THE AMERICAS ARGENTINA (par 42.44 cents a paper peso) Demand .82.50 82.125 48.18 Cables .32.625 32.75 43.85 BRAZIL (par 82.46 cents a paper milrel?) Demand .14.00 14.00 26.76 Cabios .14.12 14.125 27.00 PERU (par $4.80 a pound) Checks . 3.63 8.53 4.75 ECUADOR (par 48.60 cents a sucre) Checks (nom.). .32.25 32.26 - CI11I.K (par 36.5 cents a peso) Checks .12.50 12.S7% 23.60 URUGUAY (par 103.43 cents a peso) Checks .68.00 68.25 - VENEZUELA (par 19.3 cents a bolivar) Checks .16.26 16.20 Canadian ExrhaJigre?New York funds In Montreal, 13 6-32 per cent premium; Mont? real fuuds in New York, 11% per cent dis? count. Bid and Asked Following are tho closing bid and | asked quotations of stocks listed on tho j Stock Exchange in which there were 1 no transactions yesterday: Ad? Hum pf. Air Reit . ;J4 hi Alaska ?? M.. 1 Allls Cli pf.. 77 A C Uve. pi'.. 88 All A C,i1j1o.104 Alii Re?l .. 70 Ara A? 0 pf.. 7'-'li Am 11 Nom.. M U do pf. 47*4 Am Ut S pf.. 65 Am ? S & V. 4K% do pf. Sj Am Can pf.. yJii Am Ct () pf.. 63 Am Drug .... 6% Am lee pr.... 62 Am La Ft*.. 10 Am LI O pf.. 79 Am Loo pf. .106 Am Mil O... 20 Am Snuff ...101. do pf. 73% Am SU F pf. 85 Am S R pf..!?;^ 104 Am Sum pf.. 84 Vi 85 Am Tel ft C. 50 55 Am Tobao ..11:;% 114 do pf n_ 90 91 I do 11.112% 113 I Am W00I11 pf. 96 Va 97 % i Ann Arbor .. x do pf. 15 do 1st. pr... Gl!% do 2d pf... 65 Asso Dry G.. .'(0% AtC.wr 1st pf 38 Alia lief _SflO 650 do pf.1?7V* 109% Paris Market Irregular PARIS, April 14.?Prices were ir? regular on the Bourse to-day. Three per cent rente*. 55 francs, 12 cen? times; exchange on London, 54 francs ?>2 centimes; ' 5 };cr cent loan, r^> francs i>.r> centimes. Tho dollar was ijuutfd ?U 11 frailea 7 centimes. 16 33 108 100 39 43 4 Va 6 86 90 ISO 210 30 4? 70 80 ? 7? 0V? 7% l:7? ?% 60 3% 9% 98 Atl Fruit Atl Tacit Aus Nica ... do pf. Auto Sal C... i do pf., KaJl Loc pf. Bwn't Lot ;. 34 do pf. 70 Bamsdall ... ?? Batopll M .. Belli Steel ..." ! , do pf.K0 Cklyn i-Mi-oi.- :?-' i ll?:?:i Lu ?l?. 33 HM. Ai-Ufd.. 1V..1. Asked. ; 4S% r.OV??ltroWTi Sil ... 33 SS 37 do pi. 70 78 Hi Brunswick ... :;%, *hi 7rv., Huf it ?. rt.. ?2% '*> 81) do pi. H7 90 lo;>V? Bur & Sus.. - - HO do pf. 41 43 74% Burns K pf..ll)4 52?? Bush Ter ... 65 50 Onu South . 80 Cusa I'loiT .. 49V? Caso J I pf. 92 C>n II N JK Cert Corp .. 66 do 1st pf.. 0% do 2d pf.. Cbio ii Alt.. 10V4 do pr. 11 Chlo >' W pf. 39 100 107 Cil R I P 6pr. 59% 60 25 O St P M O. 55% ?0 1?4 do pf. 80 9", 85 CCC481 37% 90 do pf. 60% Cluett P'b... 41% do pf.S2% Col Fu pf... 97 108 Col k So.... 83 34 do 1st pf... ?U 53% do 2d pf... 4:t 4". Comp Ta ... ::". :;r> Con (He pf,. 65 b;? Con Can pf.. 75 90 Con lusur ... Ill 82 Cn Tr ltf pf.ini% 104 Crex Carpet .. 30 65 (.'rue St pf.. M% H5 Cu Aw S pf. 02 100 Do Beers _ 15% 22 40 62% 43% 6f,? J7 10 66% 4 14% 100 an Deero t! pf.. 82 U L & W...2K0 Del Kdison .. 84 DM & Mac... 45 do pf. no Dut. D U ? D S S t At do pf. nui * sup. Durham II pl 3% 69 4Vi 0% I East Ko pf High. Low. Dir. Ne* 1921. 1921 Rate. Sales. Open. High. Low. Close, ehge. Bid. Ask 19 ? Lake Erie & West pf 20O 20 20 19'/B 19/b? 2% 19 24 17'/a 2 Lee Rubber & Tire.. 300 253/4 Z5% 25% 25%-% Va. 25'/;, 2534 47% 31/2 Lehlgh Valley . 2100 48'/4 48!4 47% 4734? % 15 2 Loew'H, Inc . 2900 18% 19'/4 1834 19 ? % 1 Loft Candy . 200 10 10 9?/8 Wt 28 29?/a 56','3 211/3 1234 42 103% 68 58'/a 25 21 12 5 91 31 97 69'/ 45", 19 14' 253 47'/a 48 18% 19 934 10 Vz f.00 35 36'/8 35 36|/8-f 2'/8 34'/2 35 2C0 97 97 97 97 ? 3 95 97 20O 63/a 63 i/j, 63'/2 63 Vz- 63 200 50'/8 50'/8 50 50?1 43 ? Loose-Wiles Biscuit 7 Louisville & Nosh.. 6 Mackny .Cos . 7 Manhattan Elevated. 134 Manhattan 8hirt .... 100 23 2 Martin Parry . 200 15 6</2 ? Max Mot 1st pf ctfs 100 Wz 2Va ? do 2d pf ctfs. 200 3% 91% 65'/2 8 May Depart Stores.. 5300 88% 167'/4 135% 12 Mexican Petroleum . 33600 138'/4 138% 136'/2 13634. 20 16% 2 Miami Consol Copper 1600 19% 19% 19% 19 883/4 B9Vz + 5'/2 11'/4 1.60 Middle States Oil,.. 2400 13 13% 251/a 9 2 4 16 331/2 10/2 33/2 13 3 5% 20% 41% 28% 21 115 102 120 106 5% 1 65 6% 12 77!-2 89 74 !/2 29 23! 2 19'/4 104% 88/4 4 314 28'/a 24!/2 16 12% ? 54% 431/2 3 49 46'/4 5 17/4 13% 1 41/2 27/2 ? 79% 6434 6 71% 58?4 6 413/4 32% 3 17 834 ? 44/4 33% ? 1934 15% ? 31!4 3 231.2 ? 19% ? Mldvale Steel . 1400 26?/4 26!/2 Minn & St Louis new 2CO 10/8 10/8 Mo, Kansas ft Texas 200 2 2 do pf . 200 4 4 r.?i-rourl Pacific _ 200 17 17 do pf . 1600 36'/4 36'/4 13 26 10 2 4 I6/2 36 16/2? % 16/2 16% 36 ? l'A 35 36 Mullins Body . 200 22/a 22!/2 22'/4 22'/4? 134 22 National Biscuit ... 900 112 115 112 115-1-3 111 do pf . 200 115 115 111 111 !- 1/4 111 49% 8 4'/4 - 9 ? 60 6 73 10 66 5 20% 1434 16 92% 68% Nat Con & Cable ... Nat Enamel & Stp.. Nat KR Mex 2d pf.. Nevada Con Cop ... N O, Tex & Mex New York Air Braks New York Central . . 2/2 New York Dock - N Y, N H & H. 1500 16J4 I6/4 1 N Y, Ont & We.it. 1'/a 1'/2 1"/a 1'/a+ Vz 57% 57% 57% 57%? % 4/2 4'/2 4'/4 4/4? Y* 11 11'/s 10% 10%? i/8 64 64 63 63?1 73 73'/2 72'/2 73'/2+ Vz 1900 67'/2 671/2 67 67?1 200 27'/3 27'/2 27/2 27'/2? Vs 200 200 400 900 200 400 7 Norfolk & West ... 7 Northern Pacifie ... .40 Okla Prod & Ref ., 2 Orphcum Circuit .. - Otis Steel . 3 Owens Bot Mach .. 5 Pacific Cas & Eier. 1 Pacific Mail . Wz 57 414 1034 62 721/2 67 26'/2 15% 16/2 9234 68% 3% 23% 112 115 1% 58 434 11 63 75 67'/2 27'/2 16 17 93 69% 3/4 ', 2 35'/2 31 Vz 36% 11% 63 885/j 32 14'/s 96 104 69 16 16 ? 5/4 600 17 17 17 17 - 1200 93% 93% 9234 93 ? 1% 16700 69 70 63% 69 ? Vz 1400 3'/4 3!/4 3% 3'/8? % 200 243/4 24% 243/4 24%? % 24'/2 25 200 12% 12% 1234 1234? % 12'4> 13 1900 52% 5234 46% 46%? 6}8 46% 48 500 48 48 48 48 - 48 48'/? 100 14% 14% 14% 14%+ % 14'/, 16 Pacific Oil . 5600 35% 36!/4 35% 35'/4? 1% 35% 35% Pan-Amer Petrol ... 56C0.68 68% 67% 68 ? % 67% 68 do B . 1200 61 61 6O34 60%- 6034 61% Pennsylvania Rail .. 10800 33 33% 3234 33- 33 33% Penn Scab Steel _ 700 10% 10% 10% 10%? % 10% -10% People's Cas & Coke 1600 43|/2 43% 4234 423-4? 1 42% 43 P?re Marquette _ 200 17% 17% 17'% 17%? % 17% 17% Philadelphia Co _ 2700 31% 31% 31% 31%? $? Phillips Petroleum .. 500 25% 26 25 26 ? (/ Pierce Arrow. 6700 32% 32% 3134 31%? <*/. 9% ? 56% 5 82% 6 24% ? 12% 1 81% 8 87% 7 54 4 111% 101% 8 51% 39% 5 36% 31 4 8934 82 8 14% 11 ? Pierce Oil . Pittsburgh Coal ... do pf . Pitts & West Va... Pond ('reck Coal. .. Pressed Steel Car.. 31% 2534 31% 600 10% 10% 10% 10%+ % 10 900 53% 58% 68% 58%? % 59 200 86 36 86 86 - 200 24% 24% 24% 24%? % 600 14 14% 14 14%+ % 100 84% 84% 84% 84%? % do pf . 200 87% 87% 87% 87%? 3% Public Svc Corp N J 200 67 67 67 67 ? % Pullman Co . 7600 104% 104% 101% 10234 Punta Alegre Sugar. 3600 42% 42% 39% 40% 31% 26 32 10% CO 33 24 '/> 14% 86 90 69 134 102 IO234 234 40% 41 % 86 24 14 84% 86 . 64 89% 55 10 37% 73% 23' >'?> 69% 13 24% 30% 41 5% 7% P83/4 65 37% 8 25% 58% 14% Pure Oil . 4700 33% 34% 33% 3434+ 64 34 341/2 Railway Steel Spring 200 87% 87% 86 86 ? 1% 86 87% Ray Consol Copper.. 1500 12% 12% 12% 12%? % Reading . 5700 67% 67% 66% 66%? % do 1st pf. Reis & Co. Remington Type ... Rep Iron & Steel.. . Kep Motor Truck.. . . 600 41% 41/4 41 200 9 200 32 9600 6' 100 60 17% ? 32 60 ' 17'A 61 12% 56% 5.20 Royal Dutch . 4600 60% 11% 1 St Joseph Lead. 200 12 19% ? St Louis & Han Fran 2400 20% 20% 23%? St Louis Southwest.. 200 26% 26% 35 ? do pf . 400 35% 35% 2% -- Saxon Motors . 12C0 43/4 434 5% ? Scab Air Line . 1C0 5% 53/4 65% ? Sears Roebuck . 6900 76 76% 74% 74%? 2% 20% 12%? Seneca Copper . 40O 15% 15% 15 15 ? Vi 6% 4% ? Shattuck Arizona ... 400 5% 6 5% 6 - 46% 38% .74 Shells Trans & Trad 400 40 40 40 40 ? Vl 12% 12% 66% 66% 40'/2 42 253/a 19% ? 5f 38 ? 70 6 19 ? Sinclair Oil . 1300 23% 23% 23% 23%? % 531/2 101 24% 60 109% 85 167% 135 110 105% 42% 27% 80 10% 48 9/4 45 2 43% 7 7% 1 36'. 2 6 7 ? 38 3 134 ? 24% 16% ? 36% 21 1 57?4 45 6 12% 6% ? 55% 36% 3 2434 17% ? 122 113% 10 106 85 8 97% 8 9/4 ? Sloss-Shcf St & Ir Southern Pacific Southern Rail .. do pf . Stern Bros pf .. Stand Oil of N J do pf . Stromberg Carb Studebakcr . 46100 Submarine Boat .... 500 2600 39 39 38 38 ? 134 6800 72% 72% 72% 72%? % 2900 1934 19% 19% 19%-- % 300 55% 55% 55% 55%? % 200 109%M09% 109% 109%+ % 300 149 149 149 149 - 500 108% 108% 108% 108%? % 107% 108% 1700 34% 35 34% 34%? 1% 34% 35 77 77 75% 75%? 1% 75% 7534 7% 7% 7% 7%? % 7% 7% 9 31 58'/ 17'/; 59 V; 11? 193 26 35 W: 5V: 74/: 15 6 39 23 38 72 19'/; 55!/. 109 140 ?4 "2 10 33 58% 18 60% 12% 20 2634 38 4% 5% 75 15% 6% 40 23% ! 38% 72% 193/4 56 110 148 Superior Steel . 300 413/4 4134 41% 41%? % 41% 41% Tenn Cop & Chem .. 200 Texas Co . 7100 do rts . 500 1% Texas & Pacific _ 200 19 Tex Pac Coal & OU. 3800 27 Tobacco Products ... 2400 48 Transcon Oil . 39700 11 % 7% 7% 7% 41% 41% 41 2 1% 19 19 8 41% 2 19% 27% 47% 11% 49 207 12% 26 27% 72 5134 58% 74% 103% 101 35% 26 85 77% 112 107 59% 4534 19'/2 19 ? 64% 8 41% ? 48 3 62/i 22. 21 66 50 49 12% 41 42% 8% 23% 72 11% 19% 29% 70% 94 49% 47 11 19 17% 8 8 5 7 4 8% ? 26 ? 29% ? 7 ? 18 ? 49% ? 9% ? 15 ? 2334 ? 65 6 84 7 4234 4 33 5 277a 2634 27 ? % 27 48 47 47%? 1% 47 12 10% 11%+ % 11% Twin City Rap Tran 1200 47% 47% 47% 47%? 234 45 Union Oil . 200 20 20 20 20 -f % 19% 20 Union Pacific _,. 3800 114% 114% 11234 113 ? 1% 113 114 United Drug . 100 94% 94% 94% 94%? % 94 94/j United Fruit . 1300 104 104 103% 103%? % 103% 104 United Rway Invest. 200 10% 10% 10% 10%? % 11 12 do pf . 500 22% 22% 21% 21%? 1% 21 lr S Food Products.. 1500 20% 2138 20% 20%? % 20% U S Ind Alcohol. 2700 6534 66 65% 65%+ % 65% 17 S Realty & Imp,. 8400 50% 51% 50 50 ? % 49% United Retail Stores. 29C0 49% 49% 48% 48%? % 48% United States Rubber 19900 73 73% 72% 72/2? % 72% 72% do 1st pf. 200 101% 101% 101% 101%- 101% 102 U S Smelt & Ref... 500 30% 30% 29% 29%? % 28% 30 United States Steel.. 269C0 80 80% 79% 79%? 1 79% 79% do pf . 400 109% 109% 109% 109%- 109 110 Utah Copper . 2600 50% 50% 50 50?1 50 50% Utah Securities Corp 200 10% 10% 10% 10%- 10% 10% 1300 28% 29 28% 28%? % 23% 29 200 29% 29% 2934 2934? % 29% 293/4 200 7% 7% 7% 7%- 7 7% 100 19 19 200 573/4 58 1500 9% 9% 200 1634 16% 14% ? 12% ? 42% 35% 4 9 5% ? 117% 108% 8 52% 43 6 Vanadium Steel Virginia-Car Chem . Wabash . do pf A. Wells Fargo Express Western Maryland .. do 2d pf. Western Pacific .... do pf . Western Union Tel.. Wcstinghouse Mfg . . Wilson Co. Wheel & Lake Erie. do pf . White Oil . White Motors . 1200 Willys-Overland _ 1500 Woolworth . Worth Pomp & Mach 19 ? 19 5734 58 + 1% 56% 9% 9%? % 9% 16% 16%? 1% 16% % 18% 20 58% ? 934! 300 24% 24% 24% 24%? % 24 100 65 65 65 65?2 900 91% 91% 90 90?2 e00 46% 46% 46% 46% 200 41 41 41 41 17 25 67 89% 600 300 1900 8/8 8% 8% 8%-r 14% 14% 14% 14%+ 15% 16 15% 15%? 39 39 39 39 ? 734 8 7% 734? 300 114 114% 114 114%? 100 47 47 47 47 ? 63 89'/ % 46% 463/4 2 39 41 ' 8% 14% 15% 38% 73/4 1% 113 % !-4 8% 15 15% 39 8 115 % 47 47% Em Brant do pf. 2? Ert? A Pitta.. 45 ITalrbank .... 37 Ped Mi & s. ti% Pish Boily pf. 9 Bid. Aeliad, i BUL Asked. M B P * SSM 64 07 35 I do a>f . 82 ?7 53 Mont Power.. 51% 52 40 do .pf . 93 9S% S it'Morris Sc Jibs. ?4 ? 98 ?Mull Body pr. 90 ?ua ?near '... 12% latA'.N'ash & Chat, ill? 110 !--*? T"" ? SAVo.*6?* 1% N En ? St Pf S9 94 ?Nat Lead ...71% 7 IDO Asph pf Jen Cigar pr. SJ do 1st pf... 75 fiU'nd o pf.. r~, llranby M ... 1? (Juif M & N. S% do pf. 21 (?ray l?a? ... 13% Hart) Bleo .. 10 Hart Corp .. 70 Homo Jtiii .. 65 Hyd Sf.1 pf.. ? til Cen 1 1.. 59 Int Har C rf-105 105% t M T 1st pf. 73 74 do 2d pf... ?I in Nick pf.. 8? Int Pap pf.. 94 bit Salt _49% Iowa Cent .. 4 Island C 0 lot tc East, rones Tea ., , do pf .104 %n .Vit M 1st pf. S *X !.N V C k St h 44 ?* i du ist pr... 00 *;? do 2d pf.... 57 }*? N Y I. & W. 81% ?:; N Y u.x-k pr. 00% 105 11 4? ?S 74 ?I SO 63 \S Y Ship... Norfolk South !) Sorf & W pr. 00 North Am ... 57 NunnsUy .... ]l Ohio Body ... 9 Ohio Fuel ... 45 Ont Sllrer ... 3": Orph Ciro pf. ?" Otis Ele? ....12? do pf .go Otis Steel pf. 70 Owens Bot pf. ? 53% 54% SO ..2? 23 Pacifia Coast.. IS K11CPS pf. eo% ? <to ist pf... no K C South pf 48% 49% do ?d pf_ Itayaer " " ' " er J .... 79% 79% Parr Bin* ... 13 Pf . 96% ? Penny J O pf 82 Kelsey Wli pf. 79 89 Kel Spring; pf 73 so S3 S5 10 Keolc & D Sf. do pf . 20 Kress & Co... 75 do pf . 90 10% 69 59 12 10 30 4Vi 10O 125 83 73 10O 100 60 14% 80 40 Pore Marq pr. 3* do prior pf. 4? Pettibono _34% 62% do pf .? ns jPhil Jones ... 30% 37 I du pf .7114 78 |I1erco-Arr pf. 78 ?"SSO .145"4 149U I'CCJfc.Stl, ctfs 63 do pf . 89% 103% P Ft W ii C.118 ?Clsdo C?as.. 41 47 '' & W Va pf 73 "j B & West. 10% 13 itty Stl Spe pf.10:! MZ * Myers.lim 145 i Urs Soeur 105 145 87 64 130 do pf .1?2 do B .131 j-W B 1st pf Pli do 2d pf_100 99 115 l?t! rUjHdlng 2d pf 41% 44 Reis 1st pf... 4S Item Ty 1st pr ? do 2d pf_ R6 8114 ?rlllard pf.. .102% 105% Rep I & S pf 90% 94 iradtay Coa pf 66 58 |8t L & S V pt 29 32 ? jSarage Arms.. 15 17 15% Seso A li pf. S% ?Soars-Tlceb pf. 95 rfaiKHi Coal...350 -tiiiluis?n _ 13 do pf . 68% 64 lariatl Sujar. 7? SO do pf .? 94 larlin Koekw. 5 11 da'li Alk W. 13% 2* .(.iv M 1st pf i ? ? to 2d pf.... S% 4 ?lay I) 8 pi'., loi u Ic? Petrol pf 88 9 : tlcii Central. 85% 9? Hont Ward 18 P it Sugar. do pf . ? South Ry pf.. .''-' -tan.) Minina-.IO?! do pf . 75 ??reel Tube .. 7 S ??tudebaker pf 95 *uper su-ol pf 97 H i tu' C i" A. 11% Uo II . 5% 100 70 106% BUL Asked. 1 Bid. Asked Tt PI4 Tr.210 250 I IT S I Alo pf. 94% 99> U S R M pf 40% 42' 81%?Utah Secur... 10% Third Av B R 17 Tob Prod pf. 81 TS?.&W ctfs.. S lo pf ctfs.. 15 Transue Will. 39 T\v C R T pf. 75 On Bag ? P. 70 Union Pac pf. 65 Union Tank. .102 do pf . 9S United Cie St.120 r>f D% Va-C?r Cli ?f H 20 va i a & rT. at 41% V Baal 1st pf 74% 95 IWabash pf B. 12% 72 Web-Hell _11 0? Wcatingh pf.. 50 IOS West?ngli A B 90% 100 I Wick Spen .. 14 2U0 i Wilson pf ... 80 107 IWillys-Orer pf 83% 10% 94 % 90 ' 78 15% U Drug 1st pf.43% 14% Wig Central... Und Typewrit. 143 Vi 155 I Woolworth pf.105 do pf .101 121 \V Pump pf A 7>i US CIP&F pt 18 4!? ' du pf B.... 63 U S Express.. 5% 6% 112 80 61 Stocks Ex Dividend Date. Company. i>. c. Apr. 15?Al Chem & Dyo Corp, temp... 1 Apr. 16?Amal Sugar Co, 1st pf temp. 2 Apr. 16?Am Shlpbldg Co, 2% ex and. 1% Apr. 16? do . 1% Apr. 16?Associated Dry (roods Corp.. J Apr. 15?Atlantic Refining Co, pf.... 1% Apr. 15?Austin, Nichols & Co, pf. 1% Apr. 20?Brown Shoe Co, Inc, pf. ]% Apr. 16?Chi Pneumatlo Tool Co. 2 Apr. 16?Cons Coal Co. 114 Apr. 15?Crucible Steel of Am. 2 Apr. 15?Famous Players-Lasky C pf. 2 Apr. 15?Gen Motors Corp. 14 Apr. 15? do 6s deb... ii? Apr. 15? do 7s deb. 1 4? Apr. 15? do pf. 1 ^ Apr. 15?Hupp Motor Car Corp. i? Apr. 15?Ingersoll-Rand Co. 2% Apr. 15?Kelly-Sprlngfleld Tire Co. sth. % Apr. 20?S H Kress & Co. 1 Apr. 15?Lima Loco, pf. 1 ?4 Apr. 16?Loew's, Inc. i^ Aor. 19?Loose-Wiles Biscuit Co 2d pf. 1% Apr. 20?Milwaukee El Ry & Lt Co pf. 1% Apr. 16?Mullins Body Corp, pf... 2 Apr. 20?Phillips-Jones Corp pf, tern 1% Apr. 19?Reading Co. 1 ' Apr. 16?Superior Steel Corp. 1% Apr. 16?Un Drug Co, 1st pf. % Apr. 15?U S Rubber Co. 3 Apr. 15? do 1st pf. 2 ? London Money Market LONDON, April 14_Bar silver, 34^d per ounce; 'bar gold, lO?s A?; money 6^3 per cent. Discount rates. Short bills, t? per cent; three month billa, 6'6 per cent; cold premiums at Lisbon. 110. In Wall Street Merger Story Attract? Attention Wall Street was interested yesterday in press reports of an impending merger of the National City Bank and the Mechanics and Metals National Bank. Executive officers of both in? stitutions reiterated the denials of the story made to The Tribune on the pre? vious day. Gates W. McGarrtrh, presi? dent of tho Mechanics and Metals Na? tional Bank, said: "The statement ap? pearing in morning newspapers to the effect that a merger of the Mechanics and Metals National Bunk and the Na? tional City Bank is in contemplation or that, John McIIugh is to become president of the National City Bank is absolutely untrue in* every detail." John H. Fulton, general executive man? ager of the National City Bank, made a similar statement. Several other names were mentioned in Street gossip as possible successors of Mr. StiTlman, whose resignation was recently reject? ed by the board of directors, including Percy A. Rockefeller, a director and one of the largest stockholders of tin bank; John H. Fulton and John V. Rich and William A. Simonson, executive managers of the National City. It was asserted at the bank that the dominat? ing interests on the board are standing strongly behind Mr. Stillman and want him to continue as president. -_ A Hopeful V iew Private advices received in Wall Street banking circles yesterday from London indicated the seriousness of the British labor crisis, but expressed the hope that conditions might change overnight. A cable to one of the largest institutions in the financial district said: "The general strike situ? ation looks undoubtedly serious, but there is still a chance that the railway men and transport workers' leaders, not feeling sure of adequate support, may counsel moderation. If the Triple Alliance does come out it is quite pos? sible the strike will be half-hearted and the men begin to return almost immediately, except in especially bad districts." Paying Off Ford Loans Bankers conversant with the affairs of the Ford Motor Company said yester? day that arrangement had been made for retiring a part of the company's $24,000,000 bank loans. The amount to be paid off, it was reported, is approxi? mately $10,000,000 and is held largely by Detroit banks. The rest of the loans will be renewed. The latest reports from Detroit are to the effect that the Ford company received orders in March for 102,000 cars. Exchange Members Meet To-day The Stock Exchange committee hav? ing in charge the reception to out-of town members and partners, scheduled for to-day, was in readiness yester? day to give their guests a royal wel? come. The program will include an address of welcome at 10:30 by Presi? dent William A. Remick, a talk on odd lots by H. G. S. Noble, luncheon at the Stock Exchange luncheon club, an explanation of the new system of clear? ing stocks and loans by Samuel F. Streit and an address on the duties of the specialist by Erastus Tefft. It is expected that fully 150 out-of-town members of the exchange will be pres? ent, some coming from as far west bs Denver. Canadian Pacific Canadian Pacific got into new low ground for the year yesterday when it broke under lui). Weakness in the stock was announced by the report that the company may enter the mar? ket for new funds sooner than expect? ed. President Beatty in the last an? nual report indicated that new financ? ing would probably be undertaken some time during 1921. He said that while capital expenditures for the immedi? ate future will be curtailed it is de? sirable that a portion of the company's cash reserves expended on capital ac? count should be restored within a short time. The Reported Copper Inquiry Officials of leading copper producing companies declined yesterday to dis? cuss the reports of a Department of Justice inquiry into the recent shut? downs of the mines, but dispatches from Washington to the financial dis? trict indicated that the Attorney Gen? eral has an eye on this situation, even though he has not yet undertaken an active investigation. In view of the fact that producers could go on operating only at a loss under existing condi? tions, little fear of an investigation was expressed in the trade. Increas? ing seriousness of the British coal strike is holding up all foreign buy? ing of copper. Domestic business is also very small. To Fund Stern Brothers' Dividends Louis Stern, president of Storn Brothers, announced yesterday that the board of directors has under advise? ment a plan for the funding of the ac? cumulated unpaid dividends on the pre-> ferred stock. Dividends on the senior stock issue were paid quarterly from March 1, 1911, to March 1, 1914, inclu? sive. None was paid thereafter until March 1, 1920, when 1% per cent was paid, and this rate has since been maintained. On June 1 and September 1, 1920, 1% per cent additional was paid on account of the back dividends, leav- ? ing 36% per cent still due. Middle States Oil Acquisition The Middle States Oil Corporation j announced yesterday the acquisition of j the Corona Oil Company, which has , been operating as a producing company since 1919? and has built up its pro- j auction to a basis of 4.000 barrels daily. ' Its properties are in the Osage Nation, Okla., and the North Texas oil field, j They comprise 644 acres, with thirty- ! six producing wells, and ten wells drill- ; ing, to be completed at the expense of I the former owners. According to the | New York Stock Exchange listing state? ment of the company, $2,250,000 addi tional common stock is to be used as the final payment in acquiring the Corona company. Preparing for Cummins Inquiry The Association of Railway Execu? tives is already hard at work prepar? ing information to be made available to Senator Cummins in his investiga? tion of the railroad situation. The '. committee having this matter in charge ! has already held several meetings, and will hold another to-day. Members of the association recently declared that \ they would welcome an inquiry into the j developments that brought about the j present deplorable condition of the i carriers. London Metal Market LONDON, April 14.?Standard cop? per, spot ?68 15s; futures, ?68 17s 6d; electrolytic, spot ?72; futures ?74; tin, spot ?159 2s 6d;futures ?162 7s 6d; lead, spot ?20 10s; futures ?21 2s 6d; Zinc, spot ?25 5s*; futures ?26 5s. -? Dividends Extra Eastman Kodak Company?An extra dividend of 10 per cent a share, on tho ! common stock has been declared,, payabio ? June 1, to stockholders of record April 3?, : in addition to tho regular quarterly divi? dend of 2% per cent on common and 1% per cent on preferred, both payable July 1 to stockholder? of record May Si. Refalar Declarations Pe- Pay- Holders ' Rate rlod able of rec. ElecB*SCo.. 2% Q Apr. 15 Apr. 18 ,. D?Pf .l>i% Q May 2 Apr. IS Louisiana O 1 I Ref Cp, A pf.$16.?0 May 13 Apr. U0 ' do B pf- 15.50 .May IS Apr. JO do com.. .. f,e.\># May 10 Apr. ?0 Vacuum Oil Co. .Vi S-A May 31 May S St*ni Uros, pt.,l#% t? juti9 1 ?lay 15 Liberty Bonds and Victory Notes Coupon and Registered Rhoades & Company _ Members New York Stock ErchanZ ! 30 Pine St. New York TELEPHONE JOHN 6400 National Leather Co. Five-Year 8% Gold Notes Dae November 1925 A d i r e c t obligation of the Company constituting its only funded debt. Current assets are required to be maintained at 150% of current liabilities, including these notes! Price at market to yield, approximately 9U% Complete details in our Circular No. D-I9S. Potter Brothers & Co. Members N. Y. Stock Exehantt FiVE NASSAU STREET New York Telephone?Rector 6540 American Brass Co, -c-*1 w Am. Cyanamid, Com. & Pfd. Amer. Tobacco, Div. Scrip. Brit. Empire Steel, C. & P. ' C, B. & Q., Stock & Scrip g Geo. P. Ide, Com.. & Pfd. New Jersey Zinc Co. O Niles-Bement-Pond | Otis Elevator, Pfd. I R. J. Reynolds, Com. & Pfd. Singer Mfg. Co. Bought?Sold?Quoted ; - rrlvat? Wires to HARTFORD MONTREAL ) CHICAGO TORONTO W AND N. V. COTTON EXCHANGE. &?? ^=^-?^^ ^&^=^=S= OCI International Agricultural Corp. Special letter outlining condition and business prospects of this Cor? poration mailed free on request HELLWIO & REUTTER Members N. Y. S tor!; Exchange 1 25 Broad St., New York J.K.Rice, Jr.&Co. BuyaSell Aluminum Co. of America Foundation Co. Common Franklin Insurance Taylor-Wharton Ir. & St. Cm. J.K.Rice,Jr.&Co. Phones 4?0? to 4010 John $6 Watt BU W.J "l Weekly Market Letter on Request Carpender Caffry & Co. Memoerx Sew York Stock Exehano* One Wall Street New\ork BRANCH OFFICE 520 Fifth Ave., New York RAILROAD BONDS prince <x W\)ittlv Eatabliahed 18T8. Members Nem York Slock Exchanft 52 Broadway 1 73 Orango St New York New Haven SOUND INVESTMENT? Margin- Minimum 20 shares. Partial P?ym??t-Mic 5 share* Send for Circular "5-E" John Muir & Ca Hm?m?ttwykk %wk HirMP 61 Broadway Guaranty Trust Co. CLINTON GILBERT 2 Wall Strtet, N. Y. T.L 434? R?*r H.H. Franklin f% Common Stock StoneJProsser&Doljf 52 WilUa? St. W. Y. Hi?gg_fflg._ Clerical worker? worthy and w*1* Wf.-J Ifted?reach thorn through a TrfMM ??./ Wauted ai. Vhauv Ueekman WW?r?"""