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National Bank of Commerce inNewYork Established 185$ STATEMENT OF CONDITION , JUNE 30, 1921 Resources Loans and Discounts. U. S. Certificates of In? debtedness . Other Bonds and Securities U. S. Government Securities Borrowed . Stock of Federal Reserve Bank . Banking I louse . Cash, Exchanges, and due from Federal Reserve Bank Due from Banks and Bankers Interest Accrued . Customers' Liability under Letters oLCrcdit and Ac? ceptances . $291,204,674.06 22.332.017.60 9,474,272.44 2,500,000.00 1.500,000.00 4,000,000.00 119,915,666.38 5,956.932.27 843,901.41 29,85^33.80 $487,585,797^6 Liabilities Capita! Paid up.... Surplus. Undivided Profits . Deposits. U. S. Government Securities i Borrowed . Reserved for Interest and Taxes Accrued . Dividend Payable July 1, ? 1921. Unearned Discount . Letters of Credit and Ac? ceptances . Other Liabilities. $25,000,000.00 25,000,000.00 9,494,815.97 386,379,208.60 2,500,000.00 3,879,634.36 750,000.00 2,093,033.56 30,789,105.47 1,700,000.00 $487,585,797.96 4. HOWARD AUDREY JOSEPH A. BRODERICK GUY EMERSON HARRY P. BARRAND LOUIS P. CHRISTENSON JAMES I. CLARKE GA3HIKR ROY H. PASSMORE JAMES S. ALEXANDER JOHN W. DAVIS WILLIAM A. DAY HENRY W. de FOREST ritmaiDenr JAMES S. ALEXANDER viCB-^nmaioeNTS HERBERT P. HOWELL LOUIS A. KELDEL DAVID H. G.TENNY JOHN E. ROVENSKY SSOO/VO VICB-PRBSIOmNYm ARCHIBALD F. MAXWELL CRANZ MEYEJ? oiRecrorte FORREST F. DRYDEN CHARLES E. DUNLAP HERBERT P. HOWELL FARIS R. RU93ELL STEVENSON E. WARO ROGER H. WILLIAM8 EDWARD H. RAWLS EVERETT E. RISLEY HENRY C. 8TEVEN8 AUDITOR ALBERT EMERTON VALENTINE P. SNYDER HARRY B. THAYER JAMES TIMPSON THOMAS WILLIAMS CONDENSED STATEMENT OF CONDITION OF THE W. R. Grace & Co/s Bank 7 HANOVER SQUARE, NEW YORK ut the close of business on the 30th day of June, 1921 RESOURCES Cash on hand, In Federal Reserve Bank and due from Banks and Bankers .$1,368,407.33 U. S. Bonds and Certificates. 1,239,017.00 Other Securities. 824,656.02 Loans and Discounts. 2,952,998.83 Customers' Liability on Acceptances 81,133.82 Accrued Interest....... 34,804.36 **-Resources other than above. ....... 216,487.18 $6,717,504.58 BONDS, BOUGHT AND SOLD LETTERS OF CREDIT LIABILITIES Capital . $500,000.00 Surplus . 800,000.00 Undivided Profits . 232,355.02 Deposits . 4,559,614.85 Cashier's Checks and Certifications Outstanding. 249,215.21 Acceptances and Letters of Credit. . 100,182,84 Reserve for Taxes, Expenses, etc. . . 59,649.48 Liabilities other than above. 210,487.18 5,717,504.58 BILLS OF EXCHANGE CABLE TRANSFERS This hank has exceptional facilities for foreign business especially throughout Central and South America Cotton Market Declines, Buying Power Is Weak Scattering Liquidation and Realizing G?nerai; Octo? ber Down to 12.80; Close Barely Steady, 15 @36 Off Buying power created by the bull iah end-June crop indication and improv? ing textile trade conditions abroad having boon protty well supplied on j tho recent advance of approximately I 2 cents a pound, the cotton market showed the effects of an.oasier techni i cal position yesterday. Trade Interests were moderate buyers on a scale down, but otherwise there was not I much support, while scattering liqui ? dation or realizing was more or less relierai, and some increase of Southern hedge selling was reported here late in the afternoon. October contracts sold off to 12.SO ! in consequence, or HI? points net lower, and closed at 12.85, while the general list was barely steady at a net de? cline of 15 to .16 points. The onrlv cables from Liverpool showed continued strength, and spot business ili^ro was still larger, but Inter the English mar? ket broke protty Bharply under liquidation. The decline there, wns accompanied by re? ports thr\t buye.ni of goods for India ac? count worn refusing to pay advanced prices asked In Lancashire, and these advU-ea probably stimulated tho realising move? ment ?found the local ring. The appear? ance of clearing weather In tho Southwe.it ? also promoted the liquidation of scatter- ? Ing long aeocunts, nnd after opining; steady at a decline of 2 pointu to nn ad vanee of 4 points, active positions sold 25 to :i7 points net lower. Trade Int.-rests j wore good buyers on the Int.- break, taking a good ninny contracta out of the ring, i hut tho close was wkhln a few points of tho lowest. July notices amounting to 2.800 bales ; wore the largest since th? first notice day, however, nnd caused scattering liquidation ! of the spot month which probably had a. sympathetic offset on later deliveries, if anything, rather a better feeling was re- ! ported in the domestic goods trade. Southern spot markets ns officially ro- I ported were unchanged to 30 points lower,, with a considerable business reported at declines of 25 to 30 points In tho south-| west. Pales at DaUns, for Instance, amount? ed to 3.973 bales, with middling there ! quoted at 10.60c, compared with 12.lCc, ? tho closing price for July contracts In ? New York. The markets for spot, cotton In ?>ew York : was c|Ulet at 30 points lower at 12,40c for! middling. No sales were reported. Tho rango of prices: Monday's Open. High, Low. Close. close. July... 12.50 12.50 12.15 12.16?-12.52 Aug....--12.41?-12.73 | Sept... --12.65?-12.9.1 Oct.... 13.16 13.17 12.SO 12.86?12.88 13.1.1 Nov.... - ?r- - 13.06(9 - 13.33 Dee_ 13.55 13.56 13.24 13.23? 13.30 13.54 | Jan_ 13.55 13.55 13.25 13.27@13.S0 13.62 Feb....- 13.3.6?-13.60 March. 13.fil 13.63 13.42 13.45?-13.fi7 April..-13.60? - 13.70 May... 13.73 13.73 13.61 13.55?-13.73 June...-? 13.110?-13.75 Southern Spot Markets?(Jal vonton quiet, 25 points lower at 11.95c: salea, 749 bales. Now Orleans steady, unchanged at 11,76c; sales, 1,943 bales. Mobile nominal, un Changed at 10.76c; Bales nil. Savannah steady, 13 points lower at 11.75c; sales, 543 bales. Norfolk steady, unchanged at 11.63c; sales, 297 bales. Baltimore nom? inal, 75 points higher at 12.75c; sales nil. Augusta quiet. 25 points lower at 11.50c; sales, 770 bales. Memphis steady, un? changed at lie; sal-'s, 1,650 bales. St. Louis quiet, unchanged at 10.76c; sales \ nil. Houston steady, 25 pointa lower at 12c; sabs. 3.132 bales. Little Rock quiet, unchanged at 10.75c; sales, 675 tales. Dallas steady, 30 peints lower at 10.no-;, ! sales. 3,973 balen. Montgomery firm* un changed at 10.50c; sales, 30 ba'es. Port Worth quiet, 26 points lower :.'.. 10.70c; ' sales, 6?0 bales. Cotton Statistics Yes- Last Last terday. Week. Year, Pert receipts .. 23.610 13,640 2,846 Exports . 15.014 10.024 166 Exports season. 5,231,744 5,130,440 6,233,184 N. Y. stocks... 157.731 158.029 34,561 Tort stocks ...1,504,703 1,508,683 879,027 Int. r.Ipts .. . 8,000 5,500 2,600 Int. shipments. 9,000 5,500 3,300 N. Y. arrivals. . 907 323 Liverpool Cables? Spot, cotton harden? ing, with 7 points Increase. Middling, S.Ci'd. Sales, 10.000 bales. Including 6,000 American. Imports, 23,000 bales, all American. Futures opened steady at 6 to 11 points net advance and closed Irregular and unsettled at a not de, line of 10 to 21 j points. ,)u!v closed 8.2fld; October, 8.69d; December, 8.71d; January. 8.70(1; March, 1 8.77d, and May. 8.79d, Manchester: Yarns I hardening; cloths In good demand. What Things Cost Quotations are caah pri?es in primary markets. Previous 1920 Yesterday, day. High. Commodity and unit. FOODS? Whcnt (No. 2 hard) Im. Corn (No. 2 yellow) bu. Oat? ( No. 2 white) Im. Flour (cprlnfT p;?t.) bbl. Itccf (family) bbl. Pork (mens) bbl. Sni'iir (jrranulafrd) lb. CofTe? (No. 7 Rio) lb. Butler (creamery, first) lb. lv?ix:\ (fresh, first) doz. TEXTILES? Cotton (middling' upland) lb..., Print cloth? (38/a?64x69). Silk, raw (No. 1 Sin.) lb. Wool (fine Montana scoured) lb. METALS? Iron (2x Pbilndrlphia) ton. Btcol billets (Pittsburgh) ton_ Lend (spot) lb. Copper (spot) lb. Tin (Strai's) lb. RUBBER AND HIDES? Iittbhrr (ribbed-smoked sheets) lb. Hit!es (calfskins, city? 9 to 12 lbs. range. Lo? $1.46 .85 .48ft 8.5O@9.0O 16.50 24.25 .052?.058 .06 9-16 .37(3.39 ,33@.35 .1240 ,06ft 5.90 .80@.85 ?1.40ft .82ft .47 8.50@9.00 16.50 24.29 .052@.056 .06 9-16 36/2@.38/4 .33@.35 .1270 .06'/* 5.90 .80@.85 24.76@25.50 24.75?25.50 33.00 33.00 .0455 .0455 .12% .12 .27% .28 >/a $2.60 2.31% 1.50 16.25 28.00 47.00 .23 .16% .77 .89 .43?4 .26 17.45 2,00 63.51 65.00 .09/, ?19/a .66/4 ? 14ft .13/4 .54/2 2.45@ 2.50 2.45? 2.50 10.50 $1.79 .941/2 .60 9.00 20.00 29.50 .08 .06'/? .51/2 .42ft ?14'/2 .07/2 6.00 .80 33.00 43.00 .041/, .12/2 .32 .15/2 2.10 Cottonseed Oll Tim market for cottonseed oil tvas again active, with total Hales nmounttni? lo 3??,70() barrels, Early In tho day the the market was strong on further covering, prompted by th? continued strength In crud i oil. Longs sold heavily on the bulge, however, and while the. bulk of the offerings were absorbed by leading re flnors prices reacted sharply and at the eloso were I ! points net higher for July and unchanged to 8 points lower for th<: other positions. Tho range, of prices: Monday's Open. High. I,ow. Close. close. .Spot-. 8.3608.75 8.40 July.... 8.40 8.40 8.40 8.36?8.50 8.26 Auk. 8.82 8.90 8.82 8.86@8.!?0 8.86 Sept.... B.OO 'J.08 8.90 8.90?8.92 8.03 Oct. 0.19 9.13 li.OO 8.97?9.01 9.06 Nov. 8.95 8.95 8.81 8.77@8.82 8.78 Deo. 9.00 9.07 8.84 8.81 ?8.83 8.8t-' Jan. 9.03 9.03 8.SS 8.S1?8.85 8.87 lr?b. - - - 8.81? S.?O 8.86 Sugar and Coffee Raw Sugar Futures?The range of prices: Monday's Open. High. Low. Closo. close. July....- 3.05? 3.06 3.08 Aug.-? - - 3.05? 3.00 3.10 Sept. 3.10 3.10 3.02 3.054i-3.0(i 3.10 Ocl. - -.- 2.95? 2.97 3.00 Nov. - -.- 2.86? 2.87 2.90 Dec. 2.74 2.76 2.73 2.75(5(2.77 2.82 Jan. -- 2.70((j.2.73 2.81 Fob.-. - 2.70? 2.72 2.79 March.. -- 2.70? 2.72 2.79 April... - - - 2.73@3.76 2.80 May- -- 2.76?2.78 2.83 ( offee Future??The rango of prices: Monday's Open. High. Low. Close. close. Julv.... ?-?? - 0.04(9)6.07 0.15 Auk. ?- ? 0.17? 6.20 6.28 Sept_ 0.35 0.42 6.30 6.29? 6.30 6.40 Oct. ? ?-?-? 6.42?6.43 G.64 Nov.- fi.66@ii.57 6.68 Dec. 0.82 0.82 6.70 6.69@6.70 6.82 Jan.- b.80?6.82 6.93 Feb. - - - 6.91?n.92 7.04 March.. 7.16 7.17 7.03 7.02?7.03 7.16 April...- - 7.10?7.12 7.23 May_ 7.32 7.32 7.22 7.18?7.20 7.31 June_-?- 7.26 ? 7.28 7.40 Butter, Cheese, Eggs l?ufter?Receipts wero 10,040 packages. Creamery, higher than extras, Ib.. 40 Vi? 41c; extras, 92 score, 'M\'z ?40c; firsts, 37? 30a; seconds, 83@36l?c; unsalted, higher than extras, 42Vi??43c; extras, 41? 42c; Urns, 37@40V6c; seconds. 33<5>36>/&c; state dairy tubs, finest, 39@3&Vic; good to prime, 38@38l/4c; common to fair, 32fi37c: ladks, current make, llrsts 201/?? @:$1 He ; seconds, 201,4@27c; packing stock, current make, No. 1, 20>,4@27c; No. 2, 2(?e. Cheese? Receipts were 4,131 boxes. New York Stat,., flats, specials, lS%@18%c; average run, 17>2 @ 11% o; state twins, spe? cials, is --.' is'?;': average run, 17 Vf @ 1 7 *? c ; Wisconsin, double Daisies, 18(ij) 1S*4 ; sin? gle Daisies, 1S?1S%C; Young Americas, 19c. Kj?j?s?Receipts were 27,4r,0 eases. Frash gathered, extras, dozen. 3S@39c; extra firsts, 30?37c; firsts, 33?35c; seconds and poorer, 2S@32c ; trade eggs. 2U<il2Hc; dirties, regular packed, Xo. 1, 2??27c; No. 2, 23?25c; checks, fair to choice, dry, 2;i? 25c; refrigerator eggs, special marks, fancy, P>5V??30c; firsts, 33Vi@35c; seconds. 30? ."'JV'c ; state, Pennsylvania and nearby Western hennery whites, extras, 40?50c; extra firsts, 46(&48c; firsts, 42? 4.">e ; gath ered whites, firsts to extra firsts, 42?48c; onde;- grades, 33@40c; Pacific ("ocst, white, extras, 49@?50c; extra firsts, 40?4Se; firsts, 42@45c; other Western and Southern. gathered whites. 34?43c.; state, Pennsyl? vania and nearby Western hennery browns, extra, 40?42c; gathered brown ?nd mixed colors, graded extras, 38?39c; firsts to extra firsts, 33if37c. Unfavorable Crop News Causes Big Advance in Wheat Chicago Market Closes 5% to 6!^ Cents Higher; Corn and Oats Also Up; Excessive Heat Harmfnl CHICAGO, July 12. ? Wheat went soaring in price to-day largely bo cause of concern as to the crop out? look on both sides of the Atlantic. The market closed strong, 5% to %xk cents net higher, with September $1.2414 to $1.24?<j and December $1.27 to $1.27%. Corn gained 2% to 3V6 cents, and oats 1% to 2 cents. In provision?, the finish varied from 7 ccnt3 decline to a like advance. Virulent, outbreaks of black rust on wheat In the milk stage In North Dakota, wore reported by a leading expert and other disturbing advices which followed rapidly were taken as significant of sharp prospects of curtailment of supplies. An? other recognized authority sent word that owing to the excessive heat many thou? sand acres In North Dakota would not make five bushels an acre. Severe black rust damage was also reported from Minne? sota, nnd continued apprehension as to the pest In Manitoba and Saskatchewan. With further news at hand that Great Britain, France, Belgium and Holland were drought stricken and that no exports were looked for from Russia, prices mounted almost continuously. Extreme gains reached 6 % cents, and the clos? was at nearly the topmost level of the day. Broad? ening of demand, however, was confined In the main to commission houses Identified with the Northwest. Grain Prices Wheat Yesterday's Previous Tear New York : close. close. ago. No. 2 hard_?1.46 $1.40% - Chicago?The range of prices: Monday's Open. High. Low. Close, close. July. l.mi 1.25 VI 1.19*4 1.24% 1.19 Sept. 1.18% 1.24?; 1.18 Vi 1.24% 1.18 Dec. 1.2SV4, 1.27 'i 1.22 1.27 1.21 Corn Yesterday's Previous Year New York: close. ?lose. ago. No. 2 yellow. .$0.85 $0.82*4 $1-84% Chicago: July.64% .61% 1.59% September.62% .59% 1.58% December.61% .69% - Oats Yesterday's Previous Year New York ; close. close. ago. No. 3 white.. $0.47 $0.45% $1.27 July.37% .35% .97% September.39% .38 .80 December. .41% .38 - Rye Yesterday's Previous Year New York: close. close. ago. No. 2 Western. f. o. b.$1.43% $1.38 $2.60 Flour nnd Meal Yesterday's Previous Year close. close. ago. Spg pt.$8.50?9.00 $8.50@9.00 $13.75? 1 4 75 Comm'l 1.90?2.05 1.90@2.05 4.57%@4.62% Rye- 7.75@8.25 7.75?8.25 11.5o@11.75' Bran... 23.00 23.00 62.00 Markets in Other Cities CHILE COPPER A treatise of the mar? ket position of this company is featured in current issue of the "Financial Forecast" Ask for circular No. B.I Sent without obliaatio-n ESTABLISHED 1B06 * . Wmbrrs QmtdiitU?. Slock fcVhnnJ? of K9 41 BROAD ST, NEW VOKK, Phone'Broad. 2? FRENCH BONDS City of Rhelm? 6* City of Verdun 60 Midi K. It. 6? Parts-Orleans It. K. 6? 'tt French 4s 1017 French Victory ?s 1931 French Premium Os 1030 French 6s 1020 OUNHAMfifo WF SPECIALISTS ^* 43 Exchange Place, New York. Telephone? 1309-18 Banovr .n?-?-? CHICAGO & NORTHWESTERN Ready for the grain crop? linked with Union Pacific? a great rail artery. Analyzed. Ask for a MARKET con B-/05 OPINION R. H. MacMASTERS & CO. Members Consolidated Stock Exrh. QfN.Y. 82-84 Broad St. New York Phon? : Broad 6380 Entire Firtt Floor Oftlcea In ?lghl cities?Direct wire?. DIVIDEND NOTICES OlHee o? THE t'NITED ?AS IMPROVEMENT CO. Si. W. Cor. Broad and Arch Streets. Philadelphia, June 8, 1921. The Directora have thU day declared a quarterly dividend of one per cent. (50c. per ahare) on the Common Stock of this Company, n?&ablg July 15, 1921, to hola ?rs o? Comisan Stock of record at th? clono ?? business jiiiie 30, 1921. Checke wnl t/a m?iU<L. W * W. V"""? "?-- ? Livestock, Meats, Provisions Yesterday. Year ago. Llvo beef, fair to prime, 100 lbs. $7.50? 9.25 $14.60?17.26 Dressed beef, sides, lb.11? .18 .16? .28 L^va veals, com? mon to prime, 100 lba. . 9.00@13.00 15.00? 19.00 Dressed veal, city, lb. .12? .22 .2C@ .80 Live ewes. 108 lba. . 3.00? 6.00 <50@10.00 Dressed mutton, city, lb.09? .13 .14? .22 Live lambs, fair to prime, 100 lbs. 11.50@13.00 17.00?18.00 Dressed lambs, City, lb.22? .30 .26? .33 Hogs, 100 lba- 10.00?10.60 16.60@17.50 Dressed hogs, bacon, lb.14%@.16Vi .22%?.23% Pork, bDl.24.00@24.50 3S.00?39.00 Mess boef, bbl.. 12.00@14.00 16.00?18.0C Lard, Middle West. 100 lbs.. 11.95@12.05 19.50019.00 Baltimore ! Sales Open. High. Low. Last. 50 A Wholesale pf 93 !>3 93 93 15 Cons Power .. 85 85 85 S-j 850 Cosden pf .... S% 3% 3% 3% in Houston Oil pf 73 7 : 73 7;; I 1 Pa Water Pow S4% S4% 8 4% 84% 71 New Anis (?as. 23% 23 V4 23% 2 3 Vi 1 Union Trust . . 25 25 25 25 Bonds $20000 Cons Pow 6s.. flx*.; 98% 98% 98 "i 9000 do 6s . 96% 95% 95% 95% 2000 do 7s . 96% 96% 96% 96% 1000 Cons Coal 5s.. 79% 79% 79% 79% 1000 Maryland El 5s 81 % 8 t "4 8l'i 8 1 H 1000 Uni Ry 4s- 61% 61% 61% 61% Boston Mining 10 Anaconda .... 38 38 28 88 6 Barnsdall B .. 16% 16% 16% 16% 300 Butte Ballak .5 5 5 5 6 Cal & Hecla. ..225 225 225 ?25 10 Carson . 12% 12 V* 12% 12% Saies. Open. Higt'i. Low. Last. 26 Copper Bango. 33 33 33 33 210 Davis Daly . . 6 6 6 6 40 Bast Butte ... 8% 8% 8% 8% 100 Franklin . '-'% 2% 2% 2% 1 50 S Helvetia ... 1 % 1 % 1 % 1 % 110 Island Creek . 65 65 65 65 15 do pf . 30 80 80 80 50 Isle Royale .. 20% 20% 20% 20% 550 Mayflower O C. 3 3 3 3 196 New Cornelia.. 14% 14% 14% 14% 150 North Hutte .. 9% 9% 9% 9% 100 North Pake ..25 25 25 25 50 Shannon . 80 80 80 80 50 South Lake_ 1 1 1 1 20 Trinity . 1% 1% 1% 1% 50 U S Smelters. 29% 29% 29% 29% 105 do pf. 37% 38 37% 37% 70 Utah Apex_ 2 2 2 2 13 Utah Cons_ 3% 3% 3% 3% 200 Utah Metals... 1% 1% 1% 1% 100 Wolverine _11 11 11 11 Railroads 23 Bost Albany..121 121% 121 121% 67 Boston Elev... 65 66 64% 64% 10 Boston Maine. 20 20 20 20 11 do pf. 23 23 23 23 Miscellaneous Markets Public Utility Securities Bid Ask Ad P & L. 9 11 :1o pf.. . 70 76 8 3 Am L & T 79 do pf.. . 76 A O & El. 100% do pf... 36 Am P & L 5 3 do pf.. . 64 Am P Util 6 do pf. . 16 A W W. . . 3 do 1st pf 46 do par pf. 7 Car P & L 26 Cntl St El 4 do pf. . . 40 Cities Svc.110 do pf. . . 42 do B sh 11% do7'MsB 95 do C... 75 do D... 74 do pf B 4 Col Pwr_ 6 do pf.. . 75 C P R & L 9 80 103 37 65 67 10 20 S 49 9 30 7 45 115 4 5 12% 100 80 79 5 7 79 12 Bid CPR& L pf 29 E B & S pf 80 E D El pf 60 EO & F Co 87 do6iS. c n 77 8'.ropfstk 73 8% en nt 89 Fed L & T 6 do pf. .. 40 0 <fe Elec.150 do pf... 64 No St Pwr 4 3 do pf. .. 77 Rep R Sr. L 4 do pf... 13 So Cal Ed 92 do pf. . . 97 St O & El 9 1 do pf. . . 32 T R L & P 1 do pf.. . 4 Un R & L 22 do 1st pf 67 West Pwr. 23 ?do nw pf 65 ?Ex dividend. Ask 32 84 70 94 82 80 94 8 45 250 74 46 80 6 17 95 102 ., 12 34 2 6 24 60 2,5 68 Ins?ranee Companies Am Alinee. .260 City of N Y.160 Comwlth ...300 Fid & Phoe. .485 Franklin_ 70 Globe &. R..1090 280,Grt Amer .. .225 170?Hanover . ... 85 325 Home.316 600 Nati Liberty.170 80;Nlagara -125 ? Stuyveaant... 60 New York Bank Stocks .170 .210 .230 .165 .423 .125 .165 .150 .130 175 220 240 105 450 150 175 160 140 200 3 20 255 100 440 315 2 30 165 210 Garfleld America ... Atlantic ... Am Exch... Battery . . . Bowery . . . Bway Cent. Bryant Pk. Bronx Nat. Butch.& D. Cent Merci.. 190 Chase.310 Chat & Phe.245 Chelsea Ex... 75 Chemical . . .435 City.308 Coal & Iron..220 Columbia . ..155 Colonial .360 Commerce ... 205 Cmnwlth ...215 Ccntlnental, 120 Corn Exch. .300 fomptn .... 80 East River.. 170 First Nati. . .840 Fifth Ave...900 Fifth Nail.. 150 ?Ex dividen* Miscellaneous Stocks ?Am Ltd.. 11% 13 |D L & W .220 .190 .240 .780 .345 .490 .155 .175 187 Gotham Greenwich Hanover . . Harrlman . Imp A Trd, Industrial . Irving Nat, Mnhttn Co. Mch & Met..,282 Metropolitn. 320 Mutual . . . .610 Nat! Am.... 160 New Nthr...140 N Y County.135 N Y M B A.. 420 Pacific.300 Park.350 Public.235 Seaboard . . .220 Second.450 305'State.220 100 23d Ward... 200 ? Untd Slates. 160 860 Union Ex .. .185 - iWshg Hta. ..225 16?Yorkvlllo ...425 236 825 180 136 7.5 230 200 255 790 366 610 165 180 193 287 340 530 150 360 245 250 do pf.. . 26 Am Mf pf 79 A M * P.. ICO Am Td pf 3% Am Typ F 40 A D T N J 35 Allas P C. 10 B B K Sip 7 5 do 2d pf 66 Borden's . 9'J Bush T pf 65 Celluloid. .100 Chic ?a.... 96 CrH W pf. 85 60 Draper C..133 80 Int SU pf. 90 ISO Lima L pf 85 3% Nat Cskt.. 95 42 ?NEngFuO 15 40 |N Cp ?t Pf 95 45 ?P & W pf. 80 Phelps D.145 Ry Bkg P. 75 do pf. . . 74 ?S C H L 61 ?Sf Mf nw 92 StLRMAP. 36 Sfoll E pf 94 W & B.. . 90 Yale & T..230 9 0 80 135 95 96 110 25 90 160 80 77 63 95 40 98 100 240 Trust and Surety Companies 70 62 .293 BOO Alliance ... tAmerlcan , Am Surety.. Bankers . . . Bond & Mtg. Bklyn T Co..425 Cent Union.?325 Columbia . . .276 Commercial.. ? Empire T...300 Eqult Tr. . . .260 Frmrs L& T.346 Fidelity . ...200 Fulton.260 Guaranty ...243 Hudson . ... 160 Kings , . .?..660 Lawyers T... 110 Law Mtg . . .115 Lincoln Tr...l55 67 2 ns 210 450 330 256 135 270 360 216 270 24S 115 120 165 UM. Asked .200 ..200 .235 75 Manufturs Mercantile Melrpltn Mtg Bond Mut T W.10 Nat Surety. .175 N Y L & T. .5 60 N Y Trust. . .305 tN Y Title...112 Peoples . . . .270 Heally Anso.. 00 Title Guar.,,290 Untd States..835 U S M & T....300 IT'S T G_ 75 Wstchstr ....110 W & B A M. 160 3 tSee N Y Title. llncludes AT stk. 810 2 16 85 125 184 816 11 fi 2-.0 ion 300 410 85 Standard Oil Companies Bid. Asked. Penn-M F Hid. Asked. Anglo-Am. 16% 16% Atl Rfng.850 do pf,..105 Borne-Scr.340 Buck F L. 77 ChesMfgColBO do pf... 96 Contl Oil.102 Cres P L. 27 Cum P L..115 Burek PL. 81 G SO pf n 86 do pf old 88 do com.. 32 111 P L. ...160 Ind P L.. 75 IntPCoLt 12 Nati Tran 23 N Y Tran.133 Nrth P U- 87 Ohio Oll..245 ?Par $25. 900 108 360 79 370 99 106 28 125 85 90 92 34 354 78 12 V4 24 338 90 249 P O & G..400 Pral P L.180 Solar Rfg.330 So Pipe L 80 So Pa Oll.170 Sw P P Ls 67 ?S O Cal. 72 ?S O Ind.. 65 Vi S O Kan., n 30 8 O Ky. ..370 8 O Nob... 150 *S O N J.134 do pf. . .106% S O N J. .302 S O Ohio..365 do pf, . .108 Swan & F 25 Un Tk Car 90 do pf. . . 92 Vacu O?l.. 260 Wang Oil.. 2S 25 410 183 350 83 175 62 75 65% 660 380 160 133 107 305 380 110 35 95 95 26S 32 Miscellaneous Oil Companies Atl Lobos. 12 13 IMerr Oll.. 8 8M, dopf... 60 60 Midw Rfs.126 135 Br Am O.. 24 26 Mtn Prod. 7% 8% Cos A Co. 5 6 North... .15 .20 Elk Bsn P 6 6H|Prd*RfCo J% 3V4 Imp Oll... 80 85 ?tS Ck P... 9% 30% Magn Pet.125 135 ;Sapul Rfg. 3 3% ? Par ?10._ | W O & L Co % \ Tobacco Stocka G W Hei. 155 do pf. .. 90 J S Young 80 do pf. . . 8? McA & F. 85 Car Sug .. 18 Cent Sug.. ? do pf. .. ? C.AguIrre. 49 FJrdo new 45 Git West. 115 P R TT . . 60 Univ Loaf..140 Weym B..155 do pf. .. 90 do pf. Mat-Am., Am Cyn.. do pf... Casein Co, Dow Ch.. Du Pont... Graaelll 160 98 88 93 90 S'igar Stocka 22 'Jit-Am pf ?l 3V4 Mchg . S 38 National.. 98 62 NI Nique. 3 76 60 Savannah. 12 335 do pf. . . 35 303 ?Ex dividend. 20 ?Et dlvMonl Chemical Stocks Bid Askl Bid 20 Hook El.. 30 45 do pf. .. 30 45 Ky Soivay 25 20 ao pf. .. 93 8% Merrimae. 70 136 ?Merc C pi 77 (Mutfd Co.. 45 . 36 88 30 ' 7V4 330 365 03 35 7 303 200 18 40 Ask 40 40 70 so 83 50 Steel ??w;i Ordnance Stocka Am Brass.Ki7 Atlas TW..106 ?Bab ?: W103 Curb Steol 17 do 1st pf 60 <lo 2d pf 25 Colt A_30 Du Pont. .117 ?do pf. . 68 East Steel. 15 ?Ex dividend, A G A E 6s 75 A PAL 6s 70 Appln P Os fit Col P 6s. . 71 El Paso 0s 77 161 112 106 30 35 321 70 Bid Em S A L ^0 do pf. . . ? ?llore Pw.112 do pf. . . 79 Xilos B P. 49 do pf. . . 85 Scov Mfg.280 Thorn Iron 30 WnCor nw 15 Woodwd.. 40 Ask 30 Bonds i 78% M St P fis. 8fi% U L &R6s. 72% UtahSecfis Wia E.l %a SO 71 New York City Bonds Form. Bato. Maturity. Intor 4 %s, 1967. do 4%s, 196.">. do 4 %s, 1963. do 4 Vis, 3967. 88? dn 414 s, 3 066_ do 4 Vis, 39G4_ do 4%s, 3962 do 4 Us. 1960_ do 4 Us, I960, op do 4s, 1059. do 4s, 3968. do 4s, 3057. Res 4s, 1055-1956. .. 19:; Intor 3 Vis. 1954. Coup 3%s, 1964. Reg 3%s, 1950-1954 Inc. . do 3%s, 1040-1950 lnc do 3%s, 1021-1930 lnc Reg nnd Coup (aerial) 4%s, 1921-1032 lnc .6 00 do 4V4s. 1921-1931 inc.. 6.00 New York State Bond3 Issued In coupon and registered form, not intorchangoabla. Coupon bonds regis terable. Form. Rate. Maturity. Bid. Canal and Highway 5s, 1922-"30. 5.20 do 1931-1140. 6.00 do 1041-1971. 4.00 Form. Rate, Maturity. Bid. Canal Imp 4%s, 1064. 96 Highway Imp 4%s, 1963.. 96 ?anal Imp 4%s, 196b. ... -jl Highway Imp. 4%s, 10<; r.. 91 Marge Can Tor 414s, 1915. ?1 Highway Imp 4s, 19C7... 86% Canal Imp 1?. 1067. S'!% High Imp 4s, 19G0-'62, inc 8?% do 4s, 1058. 86% Canal Imp 43 19fi0-'62, inc 8fi% Palisadts I S Pk 4s, 1961. S6% Barge Can Ter 4s, '?12-'46. 86% Federal and Joint Stock Land Bank , Bonds Bid. Ask. Yield. Federal Farm Loan 6s. 1941, op 1331. 98% 9?% 6.05 Bid. Ask. TleiC. Federal Farm Loan 6s, 1938. op 1023.... 97 97% 6.20 Federal Farm Loan 4 Via 1939, op 1924.. 89% 90% 6.33 Federal Farm Loan 4Vis 1938. op ?923. 89% 90% 6.36 ""ederal Farm Loan 4%s, 1937. op 1922. S9% 90% 5.3S Joint Stock Land Bank 5a, 1939. ?d 1924. 90 91% 6.75 08 Hak. 4.70 Yield. 4.81 4.61 4.53 4.58 4.6 ; 4,66 4,?6 4.67 4.63 4.C.7 4.67 Joint Stock Land Bank 5s, 1938, op 1923. 90 91% 6.77 ?. S. Treasury Notes and Certificates of Indebtedness Month. Year. Bid. Asked. Yield. August . 1921 100^, 100% 4.65 ?September ... 1021 1l.?0,i, 100% 4.75 ?September .. P>21 100% 100,7, 4.7S October . 1021 100? 100% 4.00 October . 1021 100% 100/, 4.00 ?December ... 1021 1W)& 100^, 4.015 February . 1922 100,?, 100^ 6.30 ?March . 1923 100& 100VV 6.28 ?June . 1922 lOOX 100? 6.37 ?Juno . 1924 100?, 100& 6.67 ?Acceptable In payment of Federal taxes on tho dates of maturity. Short Term Securities Security. Rate. Due. Bid. Ask. Yield. Alum Co of Am 7s. 1925. 96% 97% 7.70 Amor Cotton OI, 6s, 1924. 88% 89% 9.85 Am Tel & Tel 6a, 1922.. 98 98% 7 25 do 6s, 1924. 96 96% 7.60 American Thread 6s, 1928. 94% 95% 6.80 Amer Tobacco 7s, 1921...100% 100% 6.10 do 7s, 1922. 99% 100% 6.75 do 7s, 1923 . 99% 100% 6.85 Anaconda Copper 6s, 1929 88% 87 8.35 do 7s, 1929 . 92% 92% 8.30 An-Am Oil Ltd 7%s, 1925 99% 99% 7.6D Bell Tel of Can 7s, 1926. 93 94% 8.66 Bethlehem Stt?el 7s, 1922. 99 99% 7.70 do 7s. 1923. 97% 98 8.K Can Pac Ry 6s, 1924. 95% 96 8.Of. Cen Argentine Ry 6s, 1927 81 82% 10.2? C R 1 & Pac Ry 6s, 1922 97 98 9.00 Con Gas of NY 8s. 1921,100% 100% 6.9! Cop Exports Inc 8s, 19^2.100% 100% 7.50 do Ss, 1923.100 100% 7.8? do 8s, 1924.100% 100% 7.8C do 8s, 925.100% 100% 7.8C Cudahy Pack 7s, 1923_ 98% 99 7.5? Federal Sur Ref 6s, 1924. 95 95% 7.41 B F Goodrich con 7s, '25 89 89% ?0.25 Gulf Oil fia. 1923. 95% 96% 7.9( Hocktnjr Valley 6s, 1924.. 91% 92% 9.51 Humble Oil & Ref 7a, 1923 96% 96% 8.4? Int Rap Tran con 7s, 1921 75 77 ? Kan City Term Ry 6s. 1923 95 96 7.9< Lac ? L 1st & ref 7s, 1929 89% 91 8.6.' Dig .v Myers Tob 6s. 1921 99% 100 6,0( Philadelphia 6s, 1922_ 99% 100 6.01 Proc. & Gamble 7s. 1922 99% 100% 6.7( do 7s, 1923. 99% 100% 6.8 Pub Ser N J con 7s, 1922 93% 95 - R J Reynolds Tob 6s. 1922 98% 99% 6.8 Sears Roebuck 7s. 1921... 99% 100% 6.0 do 7s. 1922. 97% 98% 8.2 do 7s, ?923 . 96% 96% 8.4 Sinclair Cons Oil 7%s, '25 91 91% 10.1 Solvay Ss, 1927. 98% 99% 8.2 Southern Ry 6s, 1922. 96 96% 11.0 So W Bell Tel 7s. 1925... 95% 96 7.9 St P Un Dep guar 5%s, '23 95% 96 VI 7.1 Swift 6s, 1921. ?9% 100 6.0 do 7s. 1925 .?6% 97 7.8 T?xas Co 7s. 1923. 99 99% '6 Utah Securities 6s. 1922.. 86% 83 ? West Elec conv 7s, 1925. 99% 100 7.0 Long Term Securities Armour conv 7s. 1930.... 93% 96% 7.7 Atlantic Ref 6%s, 1931..100 100% 6.4 Gulf Oil 7s. 1933. 96% 96% 7.4 Kennecott Cop 7s, 1930.. 33 93% - M Y Cen col tr 7s. 1930. . 100% 101% 6.S N Dell Tel 1st mtg 7s.'41 100% 100% 6.8 Penn R R coll tr 6%s. '36 97% 98 6.6 Stand Oil Calif 7s, 1931.102 102% 6.6 Stand Oil N Y 7s, ?I.'.-'SI.IOIH 105 - ? S Rubber 7%s, 1930... 99% 100 7.6 Vacuum Oil 7s. 1936._100% 100% 8.8 West Elec & Mfg 7s, 1931.100% 100% ?.I Bales. Open. Hleh. I-ow. Last, 15 Maine Central. 38 38 38 38 38 N Y N H A H 38 18 37% 37% 3 Nor A "Wore. 60 60 60 60 2 01d?Colony_ 63 63 63 63 66 West End. 41% 42 41% 41% Miscellaneous 11 Amn Agrr pf... 63 63 62% 62% 6 Amnskeag pf.. 79 79 79 79 315 Amn Fnu. 3% 3% 3 % 3% 3 5 do pf. 10 3 0 10 10 20 Amn Sugar... 67% 67% 66% 66% 45 do pf. 88 89 87% 87% 675 Amn Tel.103% 303% 302% 303 26 Amn Wool pf. 96 96 95% 95% 10 Atlas Tack- 35% 35% 36% 35% 50 Amn Bosch... 34% 34% 34% 24% 2?0 Century . 30 40 30 40 26 Edison .359% 159% 359% 359 % 6 Gardner . 13% 13% 13% 33% 36 Gen Eleo.128 128 126 126 lOOOray . 11% 11% 11% 11% 2 In Cot Mills pf 80 80 80 80 200 Island Oil. 3 8 3 3 6J T Connor... 11% 11% 11% 11% 69 Loews . 17% 17% 17 17 39 Mass Gas. 74% 74% 73% 74 23 do pf. 60% 61% ?0% 60% 176 McEBVn 1st pf 76 76 74% 75 245 Mex Inv. 26% 28 26% 27 ?05 Nat'I Leather. 6% 0% 6% 6% 108 New Eng Tel.303 301 100% 101 1 Pac Mills.l?l 101 101 101 lflP.eece B Hole. 14 14 14 14 25 Slmms Mag... 5% 5% 5% 5% 82 Swift . 8!>% 00% 80% 00% 50 do Intl. 24% 24% 24% 24% 3.1 Torrlngton ... 40 49 49 49 2 Uni Drug_.' 85 85 83 85 2 do 3st pf_ 40% 40% 40% 40% 85 Un Twist.. 32% 32% 32 12 40 Un F mit.103% 103% 3 03% 103% 74 Uni Shoe. 35% 35% 35% 35% ,8 do pf. 23% 23% 23% 23% 253 Ventura .,_ 17 17 17 17 55 Waldorf . 30% 20 39% 20 4Waltham . 10 30 10 10 170 Wick Wire_ 8 10 8 10 Bonds $8000 Miss R P'r 5s. 77% 77% 77% 77% 7000 Western Tel 5s SO 80 80 80 Bid Ariz Extn... 1 Arli Sliver..10 Ariz Tip Top 3 Blk Hawk. . 5 Bos & Mon. .51 Chief Con.... 2% Calaveras .. .75c Crystal new.34 Denbigh .... 7 Eagle B B. . 2 Eureka Cro.29 Fortuna . .? Gadsden . . .45 Homa Oil... 3 Iron BIOSS..12 Boston Curb Bid Iron Cap. . . 5 r,a Rose. . . .15 Majestic ... S Mex Metals.? Mtdw Moss_. Mutual D T 22 Monarch.. ..? Nati L & Z.? Rainier - 3 Nixon.3 Svn Metals.. 6 Silver Reef.. Ask 2 20 4 9 52 2% 1% 36 8 2% 31 2 55 4 17 Un Ver Ext..24 Yukon .850 Ask 5% 25 9 30 26 24 15 2 6 7 7 6 25 1 Chicago 75 Am Shipb_ 64 65 Armour pf .... 87% 175 Armour Leath. 12% 100 Beaverboard . 13 12% 13 25 Briscoo Mot.. 10% 10% 600 Carbide . 42% 43 60 Cudahv . 50 50 26 Comwlth Edn.110 110 66 Diamond Mat. 96 96 35 Hart S & M.. 70 70 160 Libbv . 7% 7% 1075 Nat Leather... 6% 6% 100 Sears Roebuck. 64% 64% 118 Shaw . 43% 43% 425 Stewart War... 24 24% 7 50 Swift A Co_ 89% 90% 230 Swift Intern!.. 24% 24% 25 Standard Gas. 9 9 1100 do pf . 32 33 125 Temtor A . . . . 9 9 76 United Iron W 8 8 25 Wahl . 39 39 400 Western Knit.. 10 10% 100 Wrlgley . 73 73 ?4 8?% 12% 13 10% 42% 50 110 95 70 7% 6% 64 43% 24 89% 24% 9 32 64 86% 12% 13> 10% 42% 50 110 95 70 7% 6% 64 43% 24% 90 24% 9 33 9 8 39 30 73 Bond* $3,000 Chi Rys 1st 5s 64 % 64% 64% 64% Detroit 140 Amn Light ... 81% 81% 30 Detroit Edison. 90% 90% 85 Ford .258 258 290 Lincoln . 16 16 1425Packard . 7% 7% 10 do pf . 64% 64% 35 Parke Davis .. 79% 79% Philadelphia 81 81 90% 90% 258 258 I? 16 7% 7% 64% 64% 79% 79% 20 Amn Gas . . 2? Amn Stores 100 J C Brill .. 50 Elec Storage 200 Gen Asphalt .. 1 Lake Sup Corp 27% 57% 34 104 50% 8 21 Lehigh Nav .. 63 107Hunt&Broadpf 15 13 Phil? Co 8a pf 81H 27% 57% 34 104 50% 8 ?3 18 ?% 27% 27% 67% 67% 34 34 104 104 60% 60% 8 8 83 63 IS 18 31% 41% Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue At Forty-first Street Hew York London Foreign Exchange Administrator Paris Guardian Member Federal Eeserve System and Hew York Clearing House The NevvYorkTrust Company Capital, Surplus & Undivided Profits - - - $26,000,000 LONG TERM BONDS There are many attractive long term in? vestment issues in the market today. Our Securities Department makes no charge to customers for furnishing information or for purchases for their account. Main Office z6 Broad Street Liberty Office ?20 Broadway Fifth Avenue Office 57th St. i? Fifth Ave. SAVINGS AND LOAN ASSOCIATIONS SAVINGS AN? LOAN ASSOCIATIONS 1 For Home -Building and Savings ?FIFTEEN PARK ROW (ground floo?).NEW YORK Announces its 65th semi-annual cash dividend at the usual yearly rate of 4'/? % on savings share accounts up to $5,000 and 5 % with an extra dividend of V2 of 1% on instalment and income share accounts up to $10,000. The Franklin Society, 33 years oid. state supervised and prudently managed, is serving many thou? sands. Let it serve you. Savings by mai!. PAYMENTS TO JULY 13TH EARN FROM JT'LY 1ST. OPEN EVENING? TO 1 l.NTII, .11 IV l.TTH. SAVINGS BANKS SAVINGS BANKS 291-293-295 Broadway, Corner Reade Street, New York Deposits Up to $5,000 WillBe Received and Iiv terest Paid Thereon Amounts Deposited on or Before July 13th Will Draw ?n* terest From July 1st HENRY T. NICHOLS. President. LESTER VAN BRUNT. Secretary. 202 Phila Eleo ... 21% 21% llOPhila Rap T.. 16% 16% 700 Tono Belmont. 1A| 300 do Mining .. 3-rV 1 20 Union Traction 31 % 3 329 Uni Gas Imp. 34% 34% 38 Phila Ins Wire 61% 61% Bonds ?3000 El & Peo tr 4s 55 55 7000 Phil El 1st 5s. 85 85 1000 Sp-Am 6s, Iron 98% 98% 21% 16% 1?? 1?r- }$ \i 3?? M Pittsburgh 670 Arkansas Gas 110 Am W Gl Mach 60 610 Guffey Glllesp. 8% 50 Habirshaw Elec 4% 20 Mfrs Light ... 45 200 Ohio Fuel Sup 42 10 Ohio Fuel Oil. 13% 10 Okla Gas. 21 60 Pitsbh Biew . . 2 70 do pf . 6% 10 Pitsbh P Glass.120 20 United Gas . .111 60 Whouse Elec. . 40 Toronto 9% 10 61 8% 4% 45 42 13% 21 2 6% 120 111 40 34% 61% 65 84% 98% 9% 60 8% 4% 45 42 13 % 21 6% 120 111 40 ?1 2 6% 120 111 40 Bid Adanac ... .? Ap.'x . Atlas Bailey. Chbmrs Frl. Coniagas .... Crown Rsv.. Dome Lake. 3 Grt Nrthn...? Gold Reef...? Hargraves. .? Holilnger .. 6 Lake Shore.. % Ask; .10 2 1% 5 20 3 7 1% 10 6 3 3 3 Bid 1% Mclntyre ... M ne t_'rp Cn NeW'iay . ... 2 Ptrsn Lake . 2 Pore Crown. 10 Pore Tsdl...? Pore Imprl..? Pr E Dome. 1 Teck Hghs.. 8 Tmskmng . . 13 Thmp Krst.. 2 6%|Vacu Gas.... 3 l%|West Dom?. 4 3 4 IS ~6 9 8 Further Steel Wage Cuts at Youngstown Makes Pay for Common Labor 30 Cents an Hour, With No Overtime YOUNGSTOWN, Ohio, July 12.?The Sharon Steel Hoop Company to-day took the lead among independent steel com? panies of the Youngstown district in an? nouncing a further wage reduction, ex? pected for some time. The new cut makes the wage for common labor 30 cents an hour, with no overtime. It is effective July 16, the date when the Bethlehem Steel Company's reduction to 27 cents takes effect, and also when the United States Steel Corporation's elim? ination of overtime becomes effective. Announcements from other independ? ent companies are expected before the day is over. At the offices of the Re? public Iron and Steel Company and the Brier Hill Steel Companv it was said that an announcement would probably be forthcoming during the day, while at the offices of the Youngstown Sheet and Tube Company it was said that no an? nouncement would be made to-day in the absence of President James Camp? bell. Notices of the wage reduction were posted to-day by the Sharon Steel Hoop Company at its plants here and in Sharon, Pa. The independent steel companies of this district employ upwards of 40,000 men. 146th SEMI-ANNUAL DIVIDEND Union Square Savings Bank No. 20 ONION SQUARE A DIVIDEND has been declared for tli? six months ending June 30. 1321. on ?'.I deposits entitled thereto at the rat? of FOUR PER CENT. per annum on sum? from $5 to $5,000, pay? able on and after July 18th Deposit? m?d? on or before July 13th will draw lnt?r??' from July 1st. WILLIAM H. ROCKWOOD, President. FREDERIC C. MILLS, Treasurer. H. ROCKWOOD BRINCKERHOFB*. A*?*' HUGH B. GARDNER, Cashier. Open 10 to 3; Mon 10 to " Sat. I" tjij ACCOUNTS OF SOCIETIES ACCEPTED. FINANCIAL HENRY J. I.EAKK. Auction??. REGULAR AUCTION SALE STOCKS AM? RONDS BY ADRIAN H. Ml I.I.KK A MH?, OFFICE, f.:. WILLIAM HTKEET, HED.NKSnVl', .11 I.Y IS, 1981. at 12:30 o'clock, at the EXCHANGE SALESROOM. NOS. 11 AND 16 VESE? STKEET. For Account of Executor: _ 112,000 PU'-.'burt?h, .-han ?nut & -Nortn?rr. R. K. 1st 4"? Series "A" Bonn?, 1952. -, For Account of Whom It May Cone??. $63.000 Great Western Petroleum Corps. 10-vear CCI. Pond?. 2,000,000 shs. Shaw Oil Co ___, Membership New York Produce Exentar? 100 shs. Hayt!an-Afci?rlcan Cirpn. com? mon. _,. 50 shs. Haytian-Amerlcan Corpn. pw ferred. . .... 50 shs. Haytlan-American Corpn.fouM ers. .... $40,377.ms Certain Rills Receivable *^ can be ven Ht our oi?lce. 2.000 shs. Kennecott Corpn. M 900 ah.?. American Ship & Comme"* 1,070 shs. Midvale Steel & Ordnanc? C* Claim, if any, belonging to E?w? of Pennle Gallen. d*r.regiHW ?? tween $15,905.SO and $16,6*0.39. 13 \ shs. Knox H?.t Co common. 10 shs. Knox Hat Co. 2d pr*fd. 2,500 shs. Southeastern Grain ? w stock Co. DIVIDEND NOTICES The American Exchange National Bank Now York, July 1*. li,Mt At a meeting of til? B >ard of Virt?S of this Rank, held to-day. a 1?*,?3 dividend of Three and One-h*lf pf lT?# on the capital stock was declared. P*??S August 1. 1921. to ttockhoidera ?',r. at the close of husireas July 21. ?**.,*?? ARTHUR P. I.EE. Cashl?? The labor rate of 30 cents an botf compares with the peak rate during t*J war of 47 cents an hour, with time ?Jj* a half for time over eight hours, ?*" fore the war the rate for common ?^ was 19 cents. The daily wage tor * twelve-hour cay at the time^ of **J highest wages amounted to $6.5S. t ' der the new rate the daily wage fw twelve-hour day will be $3.60 a ?* but as the mills are working on *? eight-hour basis during the V^set^^[ pression, laborers will be making "*[i, day until th? twelve-hour day i? *W*j adopted.