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Province of Buenos Aires (Argentino Republic) 5% Sterling Bonds of 1915. A direct obligation of the most important province of ?He Argent me Republic secured by a first charge on certain taxes. Callable at par for a sinking fund through which all bonds should be retired by 1931. Aside from a current return of about 7rr. should Sterling Exchange return to parity and bonds be called at par, die holder would make a profit of over 8(ryo on his investment. Letter No. M-UO wilt infercsl you. Merrill, Lynch & Co. Member? New Ycrfy Stocl? Exchanga 120 Broadway New York Uptown Office, 11 East 43d St. Chicago Detroit Milwaukee Denver Los Angeles BRssBBSaaai _nH Wholly Tax Exempt CITY BONDS Yielding 5.00% to 5.50% 1: .Municipality Troy, N. Y. ??ic'a, N. Y. Olean, N. Y. Kornell, N. Y. Mt.Vernon, N.Y. Salamanca, N.Y. Tonawanda, N.Y Maturity 1926-?941 1928-1941 1924-1929 1925-1935 1927-1928 1925-1941 1927-1951 Descriptive circulars on above ?r t various ?>' er County, Town Village and School District Bonds : Municipalities In this State ing 5.00% to 8.00% Income sent on request ior cli ular T- 19. 8.33% A Preferred Stock Company earning many times Dividend and Sinking Fund requirements, no bonded debt. Particulars on Hrquest Rollins, Kalbfleisch & Co. Members N. V, Stock Exchange 52 Broadway, New York Telephons Broad 7064-5-6 Standard ?il of Mew ??rk Bought, Sold & Quoted 2 Rector St., N. Y. Phone 6780 Rector Franklin Insurance Home Insurance Penna. Coal & J.K.RiccJr.&Co, I Western States Gas & Eiec. City and Suburban Homes Baraqua Sugar * FREDERICH. HATCH & CO ttOSTON.CHICAGO. PH1LA.MONTREAL PrTOEUR?? RAILROAD BONDS _?tttblJ?hod 1878. Members New Yorlr Steel; Exchange 52 Broadway New York Liberty Bonds All issues and denominations UofKlit?Sold?Quoted. Harishorne & ??attelle Uambers .Vet? YorH Stuck Kxehunw 25 Broad Street New York TBtaapHONE: BROAD ?7<o. STANDARD New 19th Kdltion Booklet. Mailed to Divest on Free on Kequest. CARL H.PFOR^HEIMER ? CO ?'hone 4800-1-2-3-4 Broad. 25 Broad St.,N.Y. CONSERVATIVE INVESTMENTS Securities purchased outright; on Partial Payment; or on margin. Correspondence invited John Muir & (o. ?derniers New York St?cf; ?Izcfiaig? 61 Broadway New York Nail. Bk. of Commerce The Menge! Co. Com. McCLURE, JONES & REED Uembers 3?10 York Steck Bjrehnntie 115 Broadway Phono 9321 Hector Paris Market Quiet JARIS, July IS.?Trading was quiet on the Bourse to-day. Three per cent rentes, 56 francs 60 centimes; exchange on London, 40 franc? 60 centimes; five per cent loan, 82 francs 70 centimes. The dollar was quoted at 12 franca 80 "A centimes, V Little Change si races in Dull Session Atlantic Gulf Feature of Listless Trailing; Less Activity in Bonds; For? eign Exchange Lower In five hours of give and talco at the Stock Exchange yesterday Tittle was accomplished. Aside from the ex? changes of floor traders, few transac? tions took place, and the day's session was the least active since the inordi? nately dull trading of July 6. Only 328,900 shares changed owners. Atlantic, Gulf and West Indies was conspicuously active against a back? ground of listlessness. The common stock closed at 10a?, 274 points net lower. While the stock was being hard pressed, speculators spoke of a culmi? nation of the difficulties of the company, but officials denied any change in the situation. General Electric was again a target of selling. After a rally, Mex? ican Petroleum, one of the few stocks in which any interest was shown, turned lower, and declined 3^4 points net. Despite the irregular character given the market by outstanding instances of weakness, security prices generally wero firm. The averages of both rail? road and industrial stocks closed higher. In the bond market quotations re? mained steady, but the volume of activity was much smaller in the early days of the month, when the reinvest? ment demand stirred the marketplace for fixed maturity obligations. Govern? ment issues constituted at least half of the day's business. In the commodity markets the strength of last week was followed by ; a day of falling quotations. Wheat ; prices at the end of the day's trading were 3*4 to 3% cents a bushel lower, ] and the decline was ascribed to an in ' crease in the visible supply and to ) lieavy receipts at primary points. More? over, internally *he market was primed for a reaction. ? Cotton prices slumped 43 to 44 : points, but a partial recovery toward the close effaced 10 points of the loss. ' Speculators guided their operations in accordance with the favorable weather j over the week-end and the outlook for I this week. Following the initiative of the London market bankers bid lower for sterling ; in a quiet market, and the dollar value of the currency dropped 3^ cents, to ?3.58?,?, the lowest rate quoted since January. Continental currencies fol? lowed the leadership of the pound.0 The action of the market represented ap? parently both the effects of the de? mand for dollars to pay for American exports and for the next German reparations payment. Money and Credit There will be continued heavy gov | ernment withdrawals from the banks ! this week, the sum to be taken out ! to-morrow amounting to .$24,750,000. In view of this condition no substan i tial reduction in the rato for call | money is expected in the immediate ! future. The rate held yesterday at 6 j per cent. Yester- Year day. ago. j On industrial collateral. 6 9 On mixed collateral. 6, 9 Time money (mixed col? lateral : Sixty days. 6@6% 8(5)8% Ninety days . 6@6% 8@8% Four months . 6@6% 8@8% Four to six months. 6@6% 8@8Ms Bank Clearings?Bank clearings at New York yesterday were: Exchanges. $397,000,000; balances, $61.,000,000. Silver?London, 37%d; New York, domestic bar, 99^4c; foreign, 59%c; Mexican dollars, 45%c. -o The Dollar in Foreign Exchange Foreign exchange rates on Europe slumped sharply yesterday, the weak? ness being attributed to demand for dollars abroad' both for German and for Allied accounts. Preliminary prep? arations for the next reparations pay? ment are believed to be under way, and it is probable, that the installment will be met with American dollars. Cable rates on London dropped 3% cents from Saturday's final figures, closing at $3.58%, the lowest point reached since January and less than 5 cents above the record low of the year. Continental rates acted in sympathy j with sterling, and it was said there was a strong demand for dollars for Allied account. Trading in the local market was sluggish. German marks sagged and Polish marks continued to sink into new low ground. South American rates continued easier, and quotations in many in? stances were nominal. El'ROCK YeMer- Previous Year day. day. ?pro. Great Britain (par $4.8? a sovereign) Demand . 3.58% 3.61% 3.88% Cables . 3.58% S.G2'4 3.87% COd liilla (buy'K) 3.5:1% 3.57% 3.87 80-d bills (buy'K) 3.52 3.55% 3.79% FRANCS (par 19.3 cents a franc) Demand . 7.74% 7.7?% 8.S3 Cables . 7.75 7.80 8.33 BELGIUM (par 19.3 cents a franc) Demand . 7.58% 7.G5% 8.83 Cables. 7.50 7.C2 8.S5 SWITZERLAND (par 19.3 cents a franc) l'enuind .16.46 1G.50 17.70 Cibles .16.48 16.62 17.76 ITALY (par ID.3 cents a lira) Demand . 4.41% 4.53 6.88 Cablee . 4.45 4.53% 6.89 HOLLAND (par 40.2 cents a florin) Demand .31.00 31.82 34.87% Cables .31.02 31.84 35.00 GERMANY (par 23.8 cents a mark) Demand . 1.28% 1.34 2.61 Cables . 1.29 1.34% 2.62 AUSTRIA (par 20.3 cents a crown) Demand .14 .14 .67 Cables.14% .14% .68 NORWAY (par 26.8 cents a crown) Demand .12.85 13.30 16.80 Cables .12.90 13.55 16.90 SWEDEN (par 26.8 cents a crown) Demand .20.95 21.02 22.10 Cobles .21.00 21.07 22.20 DENMARK (par 26.S cents u crown) Demand .14.95 15.55 16.45 Cables .15.00 15.60 16.55 SPAIN (par 19.3 cents a peseta) Demand .12.85 12.S8 16.04 Cables .12.S? 12.89 16.06 PORTUGAL (pur IOS.05 cents an escudo) Demand .12.75 ?s.oo 15.12 Cables .13.00 13.25 15.15 GREECE (par 19.3 cents a drachma) Demand . 5.45 5.65 12.90 Gables . 6.50 6.60 12.95 POLAND (par 23.8 cents a mark) Demand .05% .06 .58 t'ublts .06 .06% .60 CZECHOSLOVAKIA (par 20.3 cents & crown) Demand . 1.29 1.33 2.43 Cibles . 1.31 1.34 2.4S JUOO-SLAVIA (par 20.3 cents a crown) I 'einaiid .C4 % .65 1.70 Cables.65 .65% 1.72 RUMANIA (par 19.3 cents a leu) Demand . 1.38 1.44 3.00 Cables . 1.40 1.45 3.05 FINLAND (par 19.3 cents a mark) Demand . 1.68 1.70 4.76 Cables . 1.70 1.72 4.80 "fAR EAST CHTNA (Shanghai par unsettled) Demand .68.00 69.00 103.00 Cable? .68.60 ?7.50 103.60 Transactions Yesterday in Listed Stocks Pnmmary of Stock Exchange Dealing? (Copyright, 10 21, Now Yorlt Tribune Ino.) STOCKS P?v Year January 1 to date. Yesterday, before. ajjo. 1921. 1320. 1919. Railroad stock? . 41,700 14,900 40,400 20,431,800 33,983,200 49,622,300 Other Stock? . 287.200 94,900 266,300 78,366,900 96,379.100 110,824,500 | All stock? . 328,900 109,800 312,700 98,788,700 130,362,300 160,446,800 BON_8 January 1 to date. Yesterday, Day before, Yenr nr.o. 1"21. 1920. .11. S. arovernment bonds $1,852.000 $1,631,000 $4,216,000 $1,147,600,000 $1,433,847,000 i Knilroad bond? . 1,703,000 732.000 1,801.000 242,002,000 3.05,563,000 j Other bond? . 2,464.000 636,000 2,439.000 350,571.000 384,580,000 I All bonds . 9,019,000 2,999,000 8,466,000 1,740,173,000 2,123,990,000 Kecord of Stock and Bond Averages (Copyright, 1921, New York Tribune Inc.) STOCKS Range Jan. 1 to Range fall Y?ster- Day Year date. year 1920. day. before. n?ro. ITIjsfl?. Low, High. Lew. 20 Un liront! Block? . 62.06 61.75 62.20 60.60 57,40 73.80' 68.60 30 InduKlrinl stocks . 65.03 64.86 90.87 79.13 68.53 110.30 67.67 50 Stocks . 63.84 63.62 79.40 74.12 51.08 92.05 64.30 BONDS 10 Railroad bond* . 72.94 73.13 69.87 76.23 71.01 76.97 66.73 10 Industriel bonds . 81.54 81.65 83.21 84.53 80.45 91.45 81.30 5 Utility bonds. 72.80 72.70 69.26 78.70 70.13 74.53 67.44 25 Ronds . 76.35 76.45 75.08 78.41 75.25 81.71 73.94 Hljrfi. Low. DIt. 1921. 1921. in*. 1'/a m 65/2 391/4 83 66/2 51 65 Va 32% 1 35 28% 69? 4 351/4 2534 32 i, '4 231/2 129% 115/, 12 231. 2 8/4 135 13?, 6734 531/4 62/2 911/2 V5'/8 10 14 4434 83 31% 96 IO7/4 88 108/, 157s 4'/2 114 8 40 /, 29% 21 73/a 66% 4 63.4 32% 67 24 631/4 85/4 40% 953/4 129% 111/2 12734 110 82I/4 57 10 43/2 107/a 84/a 7/a 9 76 44/a 94/4 42% 35 1 62/a 65 14% 6 64% 49% 7'/a 119'/4 6/a 431/4 96 32/2 86 65/2 31 46% 71 34% 78 123/4 271/4 31/a 12% 62! 4 63 42/4 61 913/8 21% 76 /a 41% 107?/a 33I/2 23 67% 434 21% 253/4 9% 69/4 15/4 83 /a 19% 20I/2 783/3 117/2 10 7% 33% 93 76'4 2/4 5 18 15% 62/4 30% 14% 39/a 5 41/a 5 9!/a ? 4 ? 54 6 25 ? 4/4 ? 101 10 4 -- 31% ? 68% ? 23 ? 47/a 6 46 ? 22 ~ 32 ? 60/s 5 22% - 6834 7 9 ? 19/a 19 ? 4/a ? 17% ? 52 6 2834 4 21/4 ? 77/, 7 1'!% ? 59 25% 51/a 12% 67a 19/a 1 10/a 10 4 52 11 3B 451/2 11 12% 40/4 _ 80 138% 119% 161/4 9/a 70% 44 /3 79/a 32/2 26 48/a 60% 25/8 16% 93 7/a 1334 37% 5% 16 100/, 17/4 63% 73% 17 26 61 26% 60 25% 20 25 50/2 13 10/a '85/a 2 6/a ? 29% ? 3/a 9 ? 71/4 5 9/2 ? 42 6 43/a - 13 ? 10 ~ Sale?. Alaska Cold Minos... 600 Alaska .llint-nu . 200 Allied Chemical _ 1700 Allls-Chalmera . 1200 do uf . 300 Amer A;rr Chemical. 600 Amer fleet Sugar...'. 800 Amer Bosch Mag.... 1300 American Can . 500 Amer Car & Ftlry... 200 Amer Coll?n Oil_ 100 Amer Drug Synd.,.. 800 American Express . . 600 Amcr Hide & Leath. 200 do pf . 300 Amer Inter Corp.... 1600 American Linseed . . 200 Amor Locomotive ... 300 American Radiator .. 200 Amer Safely Razor.. 1100 Amer Ship & Com... 200 American Smelling . 500 do pf . 100 Amer Steel Fdry_ 200 Americnn Sugar .... 6300 do pf. 600 Amer Sumatra Tob. 1100 Amer Tel &, Tel. 3600 do r'ghts . 16200 American Tobacco . , 800 do B . 300 American Woolen ... 2100 American Zinc . 100 Anaconda . 200 Associated Oil . 200 Atch, Top & San Fe. 200 At!. Birm & At. 200 Atlantic Fruit . 500 Atlantic, Gulf & W I 62100 do pf._ 800 Baldwin Locomotive. 6200 Baltimore & Ohio... 600 Barnsdall B . 100 Batcpilas Mining ... 200 Bethlehem Steel _ 600 do Class B. 9800 Bklyn Rapid Transit. 100 Butte Copper & Zinc 200 California Packing .. 200 California Petroleum, 1600 Collahan Lead & Z.. 100 Canadian Paciflc _ 1400 Case Plow . 300 Contrai Leather _ 1900 do pf . 500 Cerro de Pasco. 300 Chandler Motors _ 5100 Chesapeake & Ohio.. 200 Chic, Mil & St Paul. 300 do pf . 400 Chi? & Northwestern 100 Chic, R I & Pac_ 300 do 7% pf. 100 Chile Copper . 7800 Chino Con Copper... 200 Coca-Cola . 300 Col Graphophone _ 900 do pf . 100 Col Gas & Electric. . 600 Comp Tab Record... 300 Consol Cif-ars . 200 Consolidated Gas . .. 300 Consolidated Textile.. 300 Continental Candy . . 200 Corn Products . 3100 /a Cosden & Co. 500 Crucible Steel . 11700 ! Cuban-Airier Sugar . 300 Cuba Cane Sugar.... 2600 do pf . 4600 Den & Rio Grande pf 500 Dome Mines . 100 ? Elk Horn Coal. 200 Emerson-Brandt . 100 Endicott-Johnson .... 1100 ? Erie . 200 ? Famous Players . 9600 ? Fisk Rubber Tire.... 1800 Frceport Texas . 300 ? General Asphalt _ 15300 i do pf . 100 I General Electric Co.. 4200 ! General Motors . 2300 i do 6% deb. 200 - Goodrich, B F. 1200 ' Great. Northern pf. . . 400 1 Great North Ore sub. 200 - Gulf, Mob & Nor pf 300 Gulf States Steel_ 200 I- Hask & Bark Car Co 300 Hondeo Mfg . 200 I Hupp Motors . 30O 7 Illinois Central . 200 ?60 Indiahoma . 1700 Inter Agriculture ... 1300 Inspiration Copper .. 300 Interbor Con Corp... 200 do pf . 400 5 Inter Harvester . 1300 Inter Mer Marine_ 700 6 do pf . 600 - Inter Paper . 600 Inter Nickel ,(. 600 Invincible Oil i. 1200 Open. High. Low 1/, Va V: 1% 39 31/? 70/s 36 281/4 34 26 I23/4 1% 38 31/a 70/a 36 28/a 34 26 122", Net Close, chgt. Rid. Ask. Vr- /a % 1%? '/? 1% 1% 38/4+ % 37 39 1% ^M_ 30/8 3O/4? 1 69/a 69/a? 1 35% 35%? /. 30/2 31 68% 70 35% 36 28/a 28/4-|- 1/a 27Va 28 33 28 122 33/2? 1 3234 34 Va 26 + % 25/a 26% 123/4+ Va, I22/4 122% ie/a ia/2 i8/2 i8?/2+ 1/a 17 19341 434 4% 434 434+ 1/4 4% 4% 114 114 114 114- 113 116 10% 103a 10% 10%- 10*4 12 61 51/2 51 51/2+ % 61 61 Va 33"b 33% 32 32/2+ </4 32% 32% 23% 2334 23% 23%? % 23% 24Va I 81 i/a 80/a 31/2+ 1/2 80/2 81/2[ 68/2 68/a 68/2+ Va 68/2 70 4/8 4 4/8+ /a 4 4/a 6%? Va 6% 7 80 Va 68i/2 4/8 634 36/a 71 6% 37/2 71 6% 36/a 70 371/2+ Va 36/a 371/4 [ 70?2 25% 26 25% 26 69 70i/2 2534 26 67/2 68% 67/a 6334+ % 67% 68 83 88 88 88 - 87 >/2 88! 4C/2 47/4 46 46/2? ?/, 46/4 46341 103 103/s 103 103 ? Va 103 103/ A % A A- A * 121 121 '/2 120% 121 + Va 12034 121 120/2 120% 120/2 120%+ % 119% 120/21 67% 68/4 67/2 67/a? % 67% 68 8 37/2 98 82/2 2 Va 5 21/2 16% 73 37/2 I6/2 % 42 4/s 58 341/, 4/4 8% I 2/ 434 3 B'/al 42 8/4 8/4 8/4-_ 37% 37/a 37%+ % 37 37341 93 98 98 ? /a 97 98Va I 82/2 82/a 82/2+ /4 82'4 8234 2/2 2/2 2/a? Va 5 5 .5 - 21/2 I8/2 193/a? 27a 19% 19/21 17 16 17 - 16/2 19 73 74/2+ 1/4 74/4 741/2I 37 Va 37 Va + Va 37 Va 38 16 Va I6/2? Va 15 Va 20 %- % % | _43 ? Va 41 45/a 45/4 4634 45/a 46/2+ % 46% 467a | 101/2 10/2 10/a 10/2- 10/4 11 4/8- 4 4% I B8 + Va B7/2 68/21 33 ? 1 32/2 34 4/4- 4/4 4/2| IO9/4 109/4 10834 1087a+ % 109 109/2 4/4 4/2 4/4 4/2? Va 4/4 4/2 35% 36% 3534 36 + 1/2 3534 36/8| 70?1 70 72 25/a? % 25 25/2 497a+ % 49/a 60 53 + 1% 63 54 26 + Va 25% 26/21 - 3834 39/41 _ Va 63 66 30% 307a+ % 31 31/4 737a 73%+ Va 73/2 74 9% 10/a+ /a 10 10/4 227/3 23/2 % 29/2 29% 4%? Va 4% 4% 19?2 18/a 22 54/2+ Va 54/4 54341 75 38 16'/2 % 43 4/a 68 34/2 4/4 4/n 58 32 4/4 70/2 70 Va 70 25/a 25/a 25/8 497a 50/a 4934 ?53 26 53 25% 63 25/a 33% 3834 38% 3834 63/4 63/4 63/4 63/4 31! a 73% 10/3 31/2 73% IO/4 227a 2278 22% 22% 29% 29/2 2938 29/a 4% 19 4/2 19 43 19 541/2 64/2 54 30/a 30/a 30/j 30/2? 1 30 27/4 27/4 27/4 27/4+ /a 27 33 28 86 86 14/a 14/; % 65 65/ "4 86 36 + Va 14/a 14/a % %- Va 65 65/4 27/8 27/4 27/8 27/4 52% 1-"/; 834 I6/4 17 Vz 4 60 54% 14% 934 I6/4 161/4 17/a 17/a 85/4 85341 14/a 15 % %| 647a 65/2 27/4 27% 63 5 3/2 52% 53 Va + Va _ 13/a 14 + Va 13% 14% | 8% 9 + I/, 87b 9/8 22/a 24% 22/, 23%+ 1% 23% 24/2 2 2 134 178- 17a 2 I6/4- Va 16/4 16/2 17/3? Va 17 18/a 4 ? 2/8 60 - 4 60% 4 60 1234 12% 1234 12% 47/a 47/4 46 46% 1 4 8 60 6O/4 127a 13/8 46% 47 13 13 49/4 50/a 87 87 12% 4 S1/ 87 11/a 11/a 11/a 11%+ Va "Va 11% 12%? % 12/2 13 437a? Va 43?4 49 87 ?? 85 88 17a 118/a 119 Va 10'/2 1034 /a 63 65 Va 30/2 31/a 68 68 Va Va 27 119% 121% 117% 113/2 103/4 10% 10% 10% 63 Vz 30% 67 7 s 27/ 63 Va 30/a 63 27/, 63/a 631/2 30 30/8-f 67% 68 - _ 27/z 27/a+ Va 27 28 20/4 20/4 20/4 20/4? 1/4 20 20% 30 31 30 31+1 29 33 54 54 54 54 - 50 64/2 14 14 14 14?1 14 15 II/4 11/? 11 11 ? Va IO34 11? 91 Va 91/2 91/2 91/a? /8 91/2 2/4 2% 2/4 2/4+ Va 2/a 7 7 634 63/4? 1/4 6% 3/a 3/a 3/a 3/2 10% 10% 10% 10% 74 747a 74 11 11/4 10% 11/4 44/4 44/a 43/2 43/a 92 2/4 7 33 '4 33/4 11 74 33/a 33/a 33/a 33/a+ Va 33 3/a _ ? 10/2_ 74/a+ 1/8 73/a 7434 1034 11% _, Va 43% 44/4 51% 51% 51% 51%+ 34 6034 61% 1334 1334 13/a 13/2? 1/4 13/a 14 10% 10% IO/4 103/s? % 11/8 11/4 Hlfh. Low. DIt. N?* 1921 1921. in $. Cale*. Onen. Hlg-h. Low. Clone, chee. BM. Auk. 47/a 2% ? Island 01! . 1900 2% 3 2% 2%- 2% 2% 113/? 4 _ jewr| 7ea . 300 9'/2 9/2 9'/4 9'/4? '/4 9'/4 9'/2' 28% 18'/2 ? Kan Clly Southern.. 800 24'/. 24% 24/2 2474+ '/4 24'/2 25 52 45^ 4 do pf . 300 40'/4 48'/4 48'/,,, 48</4? % 49 50 64% 31% 4 Keliy-SprlnsrUeld . 200 36 36'/a 36 36'/a + % 36 36/2 80' 70 6 do pf . 100 76/4 7?I/4 76'/4 76'/4? 1% 75 80 22% 16 _ Kenhecott Copper ... 1500 19'/2 19/2 19/2 19'/2- 19 19?/2 17% 8'/4 ? Keystone Tire . 1400 11 11% 10% 11 ? % 10% 11'/, 21i/2 10 ? Loew's, Inc . 2900 10% 10% 10'/4 10%- 10% 10% 89>/2 37 10 Manat? Sugrar . 600 40 40 40 40+3 37 40 6S'/2 36'/. 7 Manbatlan Elevated.. 100 42 42 42 42 + 2 41 43 25 18 ? Marlnn.1 Oil . 200 14 14. 14 14 ? </g 13'/2 14 7 3 ? Market St Rway. 50 3% 3% 37s 37a- 3% 4 45/2 31 ? do p pf. 200 31 31 31 31 ? 2'/4 29/4 32 I671/4 87% 12 Mexican Petroleum . 41300 104'/2 107'/4 39% 101 ? 3i/4 100% 1011/4 24 15% 2 Miami Con Copper... 400 20% 21 20?4 21 + Vz 20% 21 16% lO'/g 1.60 Middle State? Oil... 1200 10% 10% ' 10'/2 10%? % 10(/2 10% 33!/2 20'/2 ? Midvalo Steel . 2800 23 23 22% 23 ? \A 23 23|/2 23 16 ? Missouri raclfic .... 600 19 19 13% 18*4? '/4 18% 19'/4 56'/4 46/2 3 Montana Power _ 200 48 48 48 48?1 48 49 25 14%? Montgomery Ward .. 200 17'/a 17'/4 17?/8 W8- 17/s 17'/2 28% 18'/4 ? Mullins Body . 300 18'/4 18'/4 Spy* 18/4? % 18 19 36% 25'/?? Nat Cloak & Suit... 200 25/8 25% 25/a 25%? 2'/8 25 29 89 64 5 N Y Air Brake. 100 64 54 54 54 ?1 53'/2 56'/2 74'/2 64 5 New York Central... 200 68?4 68'/4 68'/4 63'/4 + ?/? 68 69 39 20% 2/2 New York Dock. 400 29?4 30 29% 30 ?1 2*/2 31 </2 104% 88% 7 Norfolk & Western.. 300 93|/2 93'/2 93'/2 93'/2+ 'A 93 93/2 62 54!/2 5 North American _ 800 59% 69i/2 59 69 ? ?_ 68 60 88/4 61% 7 Northern Pacific .... 160O 71% 72 71% 72 + i/2 72 72!/? 48 40 2/?> Ohio Fuel . 100 41 41 41 41 + 1% 39 44 4 1% ? Okla Prod _ Ref.... 400 1% 1% 1% 1%? '/s 1% 2 30% 20 2 Orpheum Circuit .... 200 20'/2 20'/2 20 20/2- 20 21 16 9J/8 ? Otis Steel . 1300 10'/2 10% 10'/_ 10%+ % 103^ 11 41'/a 27'/2 V/2 Pacific Oil . 1700 34'_ 34/2 34'/4 34%+ '/a 34/4 34'/2 79% 38!/2 6 Pan-Amer Petroleum. 6600 49 50 48 48 ? 1'/4 48 48/e 71?4 35?4 6 do ? . 430O 42'/4 43 42 42 ? '/, 42 43 4134 32'/4 2 Pennsylvania R R... 4800 34'/4 34% 34i/i 3434 + % 34% 3434 17 6% ? Penn Seaboard Steel. 500 734 73/4 7% 7%+ ?/4 7'/2 8 57% 33% ? People's Gas & Coko 100 60 60 50 50 - 50 51 23% 1534 ? P?re Marquette +... 300 18/2 18'/2 18'/2 18/2 + '/4 18 20 65 37y2 ? Phillips Jone? . 200 65 55 65 55 +12 61 57 78 67 7 do pf . 300 77 78 77 78+4 75 80 31'/2 16 ? Phillips Petroleum .. 600 17'/2 17!/2 17'/2 17'/2- 17'/2 18 42'/4 15'/8 ? Pierce-Arrow . 4500 183^ 18/j 18 18'/8? ?/4 18 18/4 11% 6'/2 ? Pierce Oil . 300 7 71/4 7 7/8? '/a 714 7'/2 64% 52 6 Pittsburgh Coal . 300 62'/4 62'/2 62/4 52/2+ '/2 62'/2 63 111'/2 89'/2 8 Pullman Co _-.... 200 96 98 96 98 + 2?/2 97 98 511/2 25 ? Punta Alerre Sutrar. 1300 28 29 28 28 + "/4 28 29'/4 3634 24% 4 Pure Oil . 1400 25% 25?4 25'/2 26/*? '/8 25t/2 25% 90'/, 73'/2 8 Railway Steel Spring- 200 81 81 81 81 ? % 81i/4 85 106 98 7 do pf . 100 100 100 100 100 + 1% 9834 105 15 11 ? Ray Con Copper. 200 12'y_ 12"/? 12'/2 12l/2- 1234 12'/, 89|/4 6034 4 Reading . 600 67'/2 68 67'/2 6734+ "/2 ?7'/_ 67% 55 37l/4 2 do 1st pf. 100 38 38 38 38?1 38 40 57% 38'/2 2 do 2d pf. 200 39 39 39 39?1 38/2 39 10 8 ? Reis & Co. 200 6 6 6 6?3 6?/4 8% 73'/? 41|/8 ? Rep Iron & Steel_ 2800 46/2 47 45'/2 46/4+1?/4 45'/2 46 39/2 18 ? Replo/rle Steel . 200 19 19 19 19 + i/a 19 22 69% 46'/2 5.20 Royal Dutch . 3900 55/4 56 54'/4 54i/4? % 54/2 55 25% 19'/a ? St Louis & San Fran 200 23'/8 23'/2 23'/? 23/2+ /2 23 24'/, 30'/_ 19'/2 ? St Louis Southwest'n 500 23 23 ?3 23 ? ?_ 23 23/s 7l/4 5i/2 _ Seaboard Air Line... 100 5?/2 5/2 5l/2 5/2- 5/2 6 983/4 62y? ? Sears Roebuck . 4900 64-y_ 6534 64'/2 65'/2+ 1 65 6534 20% 12%? Seneca Copper . 100 13'/4 13'/4 13'/4 13'/4? 1*4 13'/4 15 7'A 4% ? Shattuck Arizona ... 300 6% 7 6i/2 6'/z? <A 6/2 634 28% 17%? Sinclair Oil . 600 2C(/a 20i/8 19% 20 - 20 20'/s 101 67'/2 6 Southern Pacific .... 300 75!/2 75'/2 75% 75%+ </8 75% 755-? 24% 17%? Southern Railroad .. 200 193/8 19% 19?4 19|/4+ '/8 19% 19V{ 73?/_ 6734 4 Stand Oil of Calif.. 100 73 73 73 73 ?? 73 74 110 105'/? 7 Stand Oil of N J pf 400 106% 106% 106% 106%- 106% 106% 37 21 2 Stewart-Warner . 200 25 25 25 25 + 1% 24 25 46 26% ? Strombers Carburetor 800 30% 31 30% 31 + </z 3034 31 93'/4 43% 7 Studebaker. 24600 7934 80% 7934 30 + 1 7934 80'/ 10% 4'/2 1 Submarine Boat .... 300 4'/2 4'/2 4'/2 4'/2? y4 4 4% IO34 7 ? Tenn Copper & Chera 600 7'/2 7/2 7'/2 7'/?? '/? 7'/i 8 45 29 3 Texas Company _ 4100 33% 333^ 33'/4 Z3%- 33'/4 33^ 27'/a 16'/8 ? Texas & Pacific. 400 22'/4 22',4 22 22'/4? <A 21% 22'/ .36% 163/4 1 Tex Pac Coal & Oil. 300 18'/4 18% 18'/4 13i/2+ "/8 18'/2 18?/ 58/4 45 6 Tobacco Products ... 300 55/4 5534 B5'/4 65%+ 1'/8 54'/4 543/ 13 6% ? Transcon Oil . 3800 7% 8 7'/2 8 + yz 7% 8 25'/2 17%? Union Oil . 600 18% 18% 1834 18%? 1/3 18% 19'/? 122'/2 111 10 Union Pacific . 1400 118 118% 118 118%+ % 118% 119 68 62'/4 4 do pf . 300 62'/? 63 62|/4 63 + '/2 62'/4 63'/ 34 19 ? United Alloy Steel... 1700 2434 25'/2 24% 25'/2+ '/2 23'/2 25'/ 106 81>/2 8 United Dru?; . 1100 83 83'/8 83 83 ? '/8 83 85 207 95% 8 United Fruit . 1100 103'/4 104'/4 103 103'/4+ 1/4 103'/4 104 12?/4 7% ? United Rway Invest. 300 7% 8% 7% 8%+ % 8/2 83/ 26 17/a ? do pf . 2400 19 19'/2 19 lO'/r? '/> 19 21 2714 15 ? U S Food Products. 1500 16'/2 16/2 16'/4 -\6y2- 16 17 74'/2 48 8 U S Ina Alcohol_ 3300 49!_ 50'/4 49'/, 5O/4+ % 49i/2 50/ 58% 41'/8 ? US Realty & Imp.. 300 47 47 47 47 - 46 47 62/4 48 6 United Retail Stores. 800 52% 5334 52% 53 - 53 54 7934 47'/8 8 US Rubber. 1900 49/8 49% 49 49%+ !_ 49/2 493-? 103% 91'/2 8 do 1st pf. 200 93 93 9234 923^? y4 92(/2 94/ 44'/2 37'/4 3/2 U S Smelt & Ref pf 300 39'/2 39'/, 37'/4 37/4? 1 37 39 86/2 70/4 5 US Steel. 24600 713,4 72% 713,4 7Z</2+ % 72% 72/ 112 105 7 do pf. 800 109'/a 109/8 109 109/a- 108% 109/? 59/2 4534 2 Utah Copper . 300 48'/8 48/8 47/2 47'/2? l/4 4734 48 41 25'/8 ? Vanadium Corp _ 200 28/a 28% 27% 27%? % 2734 28?; IO234 60 ? Va-Car Chemical pf. 200 73 73 73 73 + '/. 72 73'/ 9 7 ~ Wabash. 200 7% 7% 7% 7?4- 7% 7% 2Wz 18 ? do pf A. 200 20/2 20% 20/2 2034+ % 20% 21 11/2 8% ? Western Maryland .. 200 10 10 '.0 10 + i/4 9% 10 21 U/a? do 2d pf. 200 I8/4 18/4 1814 I8/4+ '/a 18 18'/ 30% 22'/a ? Western Pacific . 700 23 23 23 23 ? 1/4 23 24 70/2 61 6 do pf . 100 63 63 63 63?3 61'/2 65 94 81 7 Western Union Tel.. 200 83% 84 83% 84+1 84 85 96% 87 7 Westing: Air Brake. . 100 87 87 87 87 - 87 83 49% 41% 4 Westinghouse Mfa; .. 1400 42'/, 42'/2 41% 42 ? i/? 42 42y 11'/a 7/2 ? Wheel & Lake Erie.. 500 8/2 8/2 8/4 8'/4? l/4 8% 8'/ 17% 7 ? White Oil . 300 7 7/4 7 7'A+ '/4 7 73 10/2 5'/4? Willys-Overland . 500 7 7'/4 7 7'/4+ % 7 7\>. 7% 6/2 ? Wright Aero. 190O 7*/2 7% 7/? 7%- 7% 73/; CHINA (Hongr Kons par unsettlad) Demand .49.60 40.75 72.76 Cables .40.75 50.00 72.85 JAPAN (par 49.8 cents a yen) Demand .47.87 Vj 48.00 61.37V4 Cables .48.12% 48.25 51.62V4 INDIA (par 48.65 cents a rupee) Demand .23.00 23.12?^ 38.50 Cables .23.25 23.37 Vj 30.00 STRAITS SETTLEMENTS (par 5G.8 cents a dollar) Demand .42.50 42.50 41.75 Cables .42.76 42.76 47.00 THE AMERICAS ARGENTINA (par 42.44 cents a paper peso) Demand .28.37% 29.12% 41.12% Cables .2S.50 12.25 41.25 BRAZIL (par 32.4;'? c? nC8 a pup. r mill- is) Demand .10.50 lo.r.o 23.00 Cables .10.62% 10.?6% 23.12% PERU (par $4,80 a pound) checks . 3.56 3.56 4.79 ECUADOR (par 48.60 cents a sucre) Checks . 3.59 3.59 - CHILE (par 36.6 cents a peso) Checks .10.25 10.25 21.00 URUGUAY (par 103.42 cents a peso) Checks .60.26 60.75 VENEZUELA (par 19.3 cents a bolivar) Checks .16.52 16.52 - Canadian KxeliniiE?.?New York funds In Montreal, 13}i per cent premium; Montreal funds In Now York, 12% per cent discount. Equipment Bonds (Quoted on income percentage basis) Name. Rato. Maturity. Bid. A.i AU Coa^st Line. 6 V? 1832-'27 7.00 6.40 Bait <fe Ohio... 4% 1921-'27 7.50 6.76 Beth Steel ... 7 1921-'30 7.60 7.00 Boston & A... 4% 1921-'30 7.25 6.50 Buffalo R _ P. 4V?-5 1921-'33 7.25 6.50 i do . 8 1921-'3;i 7.25 6.50 ! Canadian Nat. 7 1935 7.10 6.90 : Canadian Nor. 4%-5-6 1924-'29 8.60 7.00 1 Canadian Pac. 6 1921-'32 7.15 6.50 ! do . 4% 1921-'28 7.15 6.50 ? C C C &,St L. 6 1921-'29 7.25 6.60 I do .... 6 1921-'27 7.25 6.50 Ches ? Ohio.. 6VJ 1924-'36 6.90 6.2S CKI&P.4Vi-5 1921-'27 7.75 6.75 Chic & N W.. 4% 1921-23 7.25 6.60 do . 6% 1925-'36 7.00 C.45 C St L _ N O. 6 l!i2l-'34 7.25 6.50 Del & Hudson. 4% 1922 7.25 6.50 Erie . 4%-3 1921-'27 8.25 7.26 do . 6 1922-'28 8.00 7.25 111 Central ... 4% 1921-'27 7.25 6.60 do . 6% 1926-'36 7.00 6.40 do . 7 1925-'35 7.00 6.40 Kan City So.. 5 1921-'24 7.60 6.50 Louis & Nash. 5 1921-'23 7.25 6.50 do . 6% 1922-'3? 7.00 C.40 MSP4SSM 4V?-5 1921-'26 7.25 6.50 do . 6% 192G-'35 7.10 6.40 do . 7 1921-'30 7.25 6.50 Mich Central.. 6 1922-'30 7.25 S.40 NYC Lines.. 4% 1922-'28 7.25 6.50 do R R_. 7 1922-'35 7.25 6.35 N Y Cent R R. 4% 1922-'S3 7.15 6.45 N Y U _ St L. 4% 1921-'26 7.30 6.50 do . 6 1931 7.10 6 N Y, N H & H. 4%-5-6 1921-'23 ?.50 7.60 I Norfolk & AV. 4% 1921-'24 7.00 6.25 Nor Pacific. . . 7 1922-'30 7.10 6.50 ! Pennsylvania.. 4-4% l!'21-'23 7.15 6,60 ! Pitts & L Erie 6 V? 1921-'3S 7.10 6.35! ReadiilK Co... 4% 1922-'27 7.00 6.50 Seaboard . 4>,a-6-? 1921-'27 8.50 7.25 Southern Pac. 4% 1921-'26 7.00 6.40 do . 7 19-l-'35 7.00 6.35 Southern Ry.. 414-6 1921-'26 7.25 ?.60 Financial Items Ernest F. Clymer has become associated with Hornblower & Weeks at their New York office. Th? Empire Trust Company has been appointed transfer ag^nt of the preferred and common stock of th? Selkirk Gold Mining Company. Bid and Asked Following aro the closing bid and asked quotations of Btocks listed on the Stock Exchange In which thai* were no transactions yesterday. Bid. AsV.od. B'rt. Ajktd. Adams Ex.... 40V4 41%'Con It B N J.170 180 ?"- ?' 80 71 70 % ~% 88% 30% 89% 31 70 no 62% 53 V? 47% 70 40 93 82 110 Auv Ilumely... IS 18 , do i>f. 36% 41% Air Roduo.... -?9 8? Ajax Rubber. . re ?l AU Am Cable.104 107 Al? Heal_ A C Dye pf. Allls Chalm.. _ do pf. 68% Amal Sugar.. ? Am As C pf.. GO Am 15k Note.. 61 do pf. 45% Am r.cet Sugar 50 Am B S & F 41 .lu Vf. DO Am Ciui pf... 78 Am Car pf.,,109 Am Chicle_ 15 ?\i Am Coal. 56 ? Am Cotton OU 17 in <lo of. 36 42 Am lee. 53% 54 <lo pf. ?30 61 Am La France il 9 Am I.ln Oil i)f 55 63 Am J,m-o of. . .103 106 Am Malt & O 11% 13 Am Radiator.. 68% 70 Am S pf A... 67 09 Am Snuff.100 110 ?lo xst.,72 81 Am Steel F pf 79 81 Am Sum pf. .71 80 An, Tel & C "" Am Tub pf n Am Whole pf. 92 Am Wool pi.. 84 Am W P pf.. A Z & I, pf. Ann Arbor.... ? do pf. 15 Art Metals_ 13 Assets Re. 1% Asio Dr G... 39 do 1st pf... 62% 65 do 2d pf... 54 A T & S F pf 77 Atl Blrm A A 2% Atl Coast L.. 84 Atl Petrulm... 14 Atl Ilo?n.850 88% 91 93% 86 5 29 5% 27 15 Cent Corp. 25 do 1st pf... ? do 2d pf... ? Chic B Se Q..198 Chlo & K III. do pd. do pf. Chlo -tit W.. do pf. 16% is Chlo n w pf. 96% ns Chic Pn Tool. 49% 50 C R I & P pf 63 64 C St P M & O 49 63 do Of. 73 C C C & St L 37 do pf. 00% C18T9 A Pitta 57 Cluott Poab... 85 do pf. Coo? Cola... Col Fu & Ir. do pf. % 7% 79 29% 29 38 62% 80 9% _^^_^^_ 106 Col & So. 85% 37 do 1st pf.. do 2d pf... Con Clear pf.. Con Dlstrlb. 51 45 65 7% 63 4S 70 8% C<;iis Text_ 14% 15 Con Can. 42 do pf. 75 95 Con Insur. 60% 02 Cn Pr.Rf pf.. 98 101 ('ret Carpot.. 33 50 Crue Bteel pf. 76 82 Cu Am Rug pf 72 7S fiaris Client.. 34 37 I'? Beers. 15 22 Peer? C pf... 69 80 Del * Hudson 96 1) L & W....174 Den & R Q. q? | dO Pf. i?/ pet Edison... ?.. l?2pet & Mac... 45 "* do of. 50 39%?Pet U R R... ? Ilia Match... 100 .Dome Mln_ 16 ?9 |D S 8 & At.. 2 3 do pf. 5 86 |imi & Sup... ? 14T4;Durham Hy.. 20 ?20 | do of. ? _ 185 1% 2 ?lo of.103 103 (East Kodak 6">5 au Tat*,.... 15% uni dopf ":::io5 Aust Nichols. 8 8% do pf. 52 68 Auto Sales Co ?>% 3% ?I? Pf. 11 13% Raid Loco pf.. 95 99 B & 0 pf.... 50% SI Barnott Leatli 40 55 do pf. 70 96 Barnsdall .... 15 23 Batopll M_ % Beech Creek. . 34 B Nut P pf.. 94% Beth Steel pr.. ? do 8% pf., 87% ?? Booth Fish... 3% 4% Bk Edison.... 90 ~ B R T els_ 6% Bk i:nion Uas 62 70 Br.i-.vn Sh. 29% 41 ?I?' Pf. 73 Brunswick ... 2 Burr R & PH. 60 do pf. 80 Buff A Susq.. ? do pf. ? 43 Bums Bros... S6% 89 do pf.100 110 Bush Ter.? 100 Butte Si Sud. . 12 645 120 Klee St?r B..115 Elk Horn pf.. 38% Bin Br pf.? 2S En -Johnson pf 93% 94 Erie 1st pf... 18$ 19 lo 2d pf. Erie * Pitts. Fairbanks F a m Flow of. 73 12% H 45 35 -?% 78 97 .6% 3% 75 85 "?% 39% 45 88 % Fed M & S.. ? do pf. 21% 24 ? ?Fisher Body.. 80 89 ?*?%! do pf. 95 98 FM Tire. 11% n% Freoport Tex. 12% 13 Gaston W. 1% Gon Am T... - l) Asph Df. Gen Cigar... do Pf. do 1st uf.. Gen Motors.. <i? nf...... ?ii 7* deb.. 72 Glllllapd o pf 20 ("oodrlch . 30% 31 "A ?lo pf. 64% ? ? ?ratios- M,... 17% 20 Grajr__J)arls.... 11, 88 100 84 90 10% 10% 65 70 71% Butterlck _ 23% 24%'?.t North Ore 27% 2? Cad lo ?Ml. 10% 11 ?Greene Cop... 20 22 Calif Pet pf.. 71 73 Guan Sugar.. 8 8% Calif & Ariz.. 45%, 47 iGulf M & N.. 7 7% Can South_40 45% do pf. 20 20% 70 72 |Hablr Eleo... ? 10 35% 36%?Hack Water pf ? 26% 70 72 ?rinrt Corp_ 69 73 7% 8%,Home Mln.... 58 68 do pf. t 12 ?Huustco Oil... 92 S3 Case J 1 pf. 0?U Leather da pf. Chic A Alton. Bid. Ask?d. Hupp Motors. 10% 10% HydSt??l.... 6V4 10 111 Cen 11_ 68 ? Indian Rf. 7% 9 do pf.? 85 Int Agr pf_ 87 88 Int Cement.,. 20 25 Int Barv. 99% ? Int Mot Truck 31 32 do 1st pf... 68 69 do 2d pf... 58 61 Int Nickel pf. 75 00 lut Paper pf.. 00 103 do pf stp... 68V4 70 Int Salt. 45 ? IiiTincible Oil. 11% UVA Iowa Central. 4-4 7 Iron Products. 25 29 Island Oil_ 2%, 2% Jewel Tea pf.. 28 30 Jol & East... 90V? ? .le.r-s Tea. 18 21 Kn C F S pf.. 6014 ? lvayaer J. 73% 75 do 1st pf. ..104% ? Kelly Sprg pf 7.5 80 do 8%. 72 77 Kolsey Wh. pf ?o 87 Keok & D M. 5 10 do pf . 20 ? arengo .130 140 -?to Pi". 97% 112 Kre:is &. Co.. ? 82 , do pr . 8g _ Lack steel ... 37% 39 Laclodo Gas... 48 f>2 /' 3 W... 10 14% T do pf . 19? 22 Lee T & R... 2a% 27% Lehlgh Valley. 50% 51? Ligg _ Myers. 146 151 "? Pf . 9SV4 103 .,*? ? .142 145 Urna Loco.... ?4 68 do pf . _ ,r> Lk.ws Ine ... lojt 10% Jx>ft Candy .. !l(? ' oa? L-VV Biscuit.. 30% 38 do 1st ?if... 114 n9 do 2d pf- flo U 115 Lorillard .144 * ,54* . do pf .100 l?a Louis & Nash.110% 11" Mackay Cos... 61 05 (la pf . 55 ?_ Maninson ;;:: ia ?S* -do Pf . 56% i;i) Manat? Bug pf ~? p0 Motion Coal.. 340 700 Matihat Beach % 2V4 Manbat Elec. _ ??^ Manhat Kiev.. 41 43 Manliat Shirt. 21 23M. Mar St By pf. 10 17H do 2d pf.... _ 7 Marland Oil.. 1314 14 Marlin Itnckw. r,2 1? Martin P_ry u2 ,5 Math Alk"& IP 38 Max M 1st pf 3% 5 do 2d pf.... 114 01/ do A ..... .-_* 45% ????? g . 8 9 May Dopt St. 79 83 do Pf . 96 ? Mt? Petrol pf 89 89% Mich Cent ... 5S 0? M te St L new Uli l? MStP 4 8SM 04 ?? do 1 1. si 50 Mo Kin 4 T. 2 ">i? do pf . m ?? Mo Parirlo .. iS?? ig? Mont Pro? pf 93 " ?,r,Tws *?***? 64 ?0 Mulllns Body. 18% 1914 .. do Pf. Ki _ " ?uh* Chat. 90 105 -N *t Acini? ... 14 15 Nat Biscuit ..110 115 ??to Pf .107 11214 N Clk _ St pf 57 ?3 N' <>?id & C. l* 114 N Knaro * st 45 47 do pf ...... 39 95 Nat Lead _74^4. 78 vd2 _. ;.101 105 N R M 1st pf 4 ? do 2d pf.... s% 4% N g T & M.. 49 50 N Y C & St _ 47% SO do 1st pf... 58 60 ??? 2d Pf--.. I?M 60 N X Dock pf. is 53 N Y O _ W. Y Ship.... 20 Norfolk South. 1>% ? Norf & \V pf. ?5% 67V4 North Am ... 58 60 N Scotia Steel 21% 25 Nunnally _ 9% 10 Ohio Body ... 7% Ohio Fue.1 ... 39 Okl Pr & Raf 1% Ont Silver ... 8% h-ph Ciro pf. ? Otis Bli?T _ 90 do pf . 75 Otis Steol pf. Owens Bot .. do pf . Pacifie Coast. do 1st pf.. do 2d pf... Pao Derel .. Pacific Mall. Pacific T & T 48 Pan h P & R. 5 do pf . 63 Parr Bing .... 10 Ponney J C pf S2 Peor?a & Bast 10 Pero Marq pf. 37 . do prior pf. 48 [Pottlbone .. _ . do pf .107 Pldla Co .... 29 Plerjs (Ml pf. 50V4 Pitt? Coal pf. 84 P l't \V & C.119 Pitts Steal pf. so ??_ P & W Va... 26% 27% dO pf . 74 yg7" Pond Crk Coal 13^ 14 Pr Steel Car.. 70V4 71% N Y _ & W.. 80 TY Nn & n 17% V.. 17% Bid. Asked. 90 18 18 27 10 54 6414 107% 29 V4 51% 87 83 M. 69Vi 22 55% 22 75 75 32% 2% 12 3% 10 65% 99% 37% SfiVi S3 37 72 45 do pf . X0 P S C of N J ?8 fvys Secur ... 55 Hand Min ... 20 Hois 1st pf.., go Kern Type ... 19% do 1st pf... _ do 2d pf... _ Rotiss _ Sara-lO? _ Itoplogl? Steel. 18% 23 Hep Iron _ s 45% 48 ?d<> Pf . 83 84 Rep Truck . .. 12V? 14 a I>u N Y S. 54% 55 St Jo Lead... U 12 St L S W pf. 33 Santa Cw Sug 3 SaTage Arms.. 10 ?Saxon Motor.. 8% S?ab A L pf.. 9 Sears Roeb .. 05 do pf . 93 .Shells T Tr ?Skss-Sheff ! ?do pf . 65 S P R Sugar, 35 do pf .. _ 9j Southern Ry.. 1994 1974 ?rV-MilL il* loi* ? do pf . 66 6r Si Oil of Cal. 73% T8% Standard OU..132 134% ''" t?-.106? 106$ Steol Tube ... T2% 76 Stern Dr<? pf.100 120 Stow't Warner 24 25 Sfudehaksr pf, 93 ?s Superior ?l. 4?4 ' Sui?.rl(V SteeL SO L* Pf . 92% Tomtor A a - B ....'! 5 ? TAPWTr.2.10 300 Tj'Ird Ayentie. 13% 15 [Tidewater ?"Mil 10 150 To!. PriKl pf.. 78% ?* jTstl.iW rtfs. 10 'do i>f nfs.. 16 Transue Will.. 30 Tw City R T. 88 do pf ._ Und Typ? ...131%2?iJ ..?toPf ......101 113% ,Un Bag & p, 60 63 '?inon OU .... 18% ]? Union T?ik... _ 100 do pf . ~ 100 Un Clgar St.. 133 200 do pf .100 105 4% S3 11 12 19 34 *3% 95 Bid. Asked. Bid. Askeo. U Alloy Steel 23% 24 Wells-Forgo .. 64% 58 U Drug 1st pf 38 42 West Uli Tel.. 84 85 U S CD?&F... 14 15 West Air Bke. 87 88 do pf . 4* 45 Wostlngh pf... 68 60 U S Hxpr?s.. 5% 0% White Motor.. 31% 32 U S I Aie Vf-- ? 92 White Oil ... 7 7% U S S & Ref. 29 80 Wtck-Spen ... 10 15 do pf . 37 89 Willys-Over pf 28% 31% Utah Recur .. 8% 9% Wilson Co ... 81% 35 V Baalte 1 pf 79 81 do pf . ? 80 Va-Oar Oiem. 25% 26% Wool worth ...110 112 Va I C & C. 70 80 do pf .105 ? Vlmidou _ 6% 7 Worth Pump.. 42% 45% I Wabash pf B. 18% 18 do pf A.... 73% 80 Weber-Hell .. 10% 12 > do pf B-56 59% ; . a ? i ? Seek to Collect $5,000,000 Cotton Merchants Organize a Committee on Cuban Debts New York cotton textile merchants having claims outstanding in Cuba havo organized the Cuban Cotton Textile Creditors' Protective Committee to hasten collection of amounts past due. Claims aggregating more than $5,000, 000 have already been filed with the committee and it is said, that all the larger cotton goods houses in New York have joined the organization, Ferdinand C. Tcwnsend, of Town send, Dix & Pogson,' secretary of the committee, states' that total claims of the New York textile firms are in the neighborhood of $10,000,000, of which amount the committee expects to handle between $5,000,000 and $7,000, 000. To-morrow is the last day on which claims may be filed with the committee. Money received from any Cuban merchant will be distributed only among New York firms who have claims against the merchant, in pro? portion to the size of the claim. No pooling of interests is contemplated. Railroad Valuations WASHINGTON, July 18.--The Inter? state Commerce Commission announced j to-day the following tentative valua? tions of railroads: Gulf, Texas A West? ern, $1,667,771; Timpson & Henderson (Texas), $392,643; Montana Western, $186,500; White River Railroad (Ver? mont), $392,222. Stocks Ex Dividend Per | Date. Company. cent. July 25?Allls-Chaltners Mfe Co. 1 July 21?Am BxohaiiBe Nat Bank_ 3% ! July 23?Am Tob Co, Mengel stuck.. .?4.75 ! July',!!"? do pi.$4.75! July 20?Brown Shoo Co, Jne, pf. 1% : July 21?Burns Bros pf. l%i July 20?Central RR of N J. 2 July 21?FlBhor Body Corp. 2% July 21? do pf. 1% July 23?General Cica?' Co, Ino. I%i July 20?Homestaka Mining Co. % July 26?Julius Kayser & Co 1st pi.. 1% July 21?Kelasy Wheel Co pf. 1% July 20?Kress A Co. S H. 1 July 20?Milwaukee El Ry a L Co pf. 1% July 23?Mullin? Body Cqrp pf. 2 July 23?Nashville. Chat A St L Ry.. 3% j July 25?Pacifia Coast Co 1st pf...,.. 1%-! July 20?Phillips-Jone* Corp pf. 1%?' July 19?Reading Co. 1 July 13?Royal De Co, E?i Tr N V au.?2.7l?i In Wall Street Deny "AGWI" Receivership When Atlantic, Gulf & West Indic3 broke to 18% yesterday, a new low since 1916, the Street was filled with adverse rumors, but directors declared there ! was not the slightest foundation for the ! report?. They asserted that the com ! pany is now in better shiipe than it was ! three months ago. having arranged f.?r ! all pressing maturities until fall. Or.? explanation for the day's selling was I the announcement that Judge Mant?n, j in the United States District Court, had i di nied the motion made by the Atlantic Gulf Oil Corporation to amend the orig . inal decreo of the court so as to do away with the services of a special mas? ter appointed in connection with the lit? igation instituted by Henry C. Mount and others. The money impounded by prior order in the same litigation still remuins in bank. The legal controversy grew out of the contract for oil wells in Tuxpam, Vera Cruz, Mexico, in 1913. and under it the complainants claimed ? they were entitled to $350,000 a month. Pending the outcome of the litigation $700,000 was deposited v/ith the court. Doubt Ford Purchase of Wabash If Henry Ford is seeking to buy the Toledo & Fort Wayne division of the Wabash Railroad, New York officials of the road know nothing about it, William i H. Williams, chairman of the board of directors, said yesterday. Mr. Wil? liams treated the report as more of a jeke than a matter to receive serious consideration. "If Mr. Ford wants con? trol of the Wabash," he said, "why don't he go into the stock market and buy it?" Taking North Dakota Bonds Sales of North Dakota bonds through the state's New York office are continu? ing satisfactorily, according to the local representative. Figures on total sales are not available, he said, however. Among the recent purchasers, it was learned, was the Central Savings Bank. This institution has contracted to take a large block of th?e securities if con? ditions are satisfactory, one of the offi? cers said. It is understood that the bank's proposals have already been met, and advices from North Dakota said that the Central Savings took at lea^t $100,000 worth of the bonds. Negotia? tions with other banks for large blocks of securities are said to be under way. Break In Exchange Rates Yesterday's break in foreign exchange rates, carrying cable rates on London to $3.58%, a net loss from Saturday of 3% cents, was not altogether unexpected, as it was believed Germany would soon begin preparations for meeting the next reparations payment, and it was gener? ally understood that the transaction would be made through the purchase of dollars, in spite of the protssts in Lon? don and Paris against this procedure because of the exchange unsettlement it entailed on previous occasions. The decline in rates yesterday was directly attributable to purchase of dolars for German account and buying of bills for Allied account which were too large for the market to absorb. Conversion of Rail Bonds Up to yesterday $111,095,000 North? ern Pacific-Great Northern joint 6% per cent bonds, due 1936, had been con? verted into Great Northern 7s. Only S8,940,000 had been converted into j Northern Pacific 6s. It is said that one reason why the Great Northern 7s are now selling at a lower price than the joint 6%s is that a number of bond houses, seeing the way things were going, thought that there would not be enough Great Northern 7s to supply all their customers, and that they con? verted joint bonds into Great North? erns on the expectation that in this way only would they be able to meet their customers' demands later, but that they overjudged the extent of the demand, and for that reason there is an oversupply of Great Northerns temporarily on the market. The joint 6%s can be converted into Great North? ern 7s only up to $115,000,000. Baldwin Moves Higher An advance of more than a point to 74% in Baldwin Locomotive was at? tributed to buying on the expectation of a good showing for the first six months of the year. Advices from Philadelphia said that the company's record for the first half of 1921 would be better than that for the correspond? ing period of las'; year. Earnings in 1920 were approximately $14 a share, and the showing this year, if continued at the present rate, is expected to be about $15 a share. Rebound in Sugar Stocks Sugar stocks reflected the stronger market for raw sugar yesterday, and most of the active securities in this group advanced substantially on the belief that the turn has finally been reached. The prospect of a loan to Cuba which will permit of the with? drawal of a million tons or more of sugar from the market for an in? definite period and the outlook for favorable tariff legislation were the bullish factors. American Sugar ad? vanced 2 points to 68% and other ac? tive stocks were higher. Cuba Cane 7 per cent bonds also were in demand at higher levels. Ho?ly Dividend Deferred The decline in sugar prices In re? cent months has caused directors of the Holly Sugar Corporation to de? fer action on the 7 per cent cumula? tive preferred stock due August 1, it was annnounced yesterday. A state? ment to stockholders said that the di? rectors considered it better tc reduce bank indebtedness than to pay dividends at this time, pointing out that t\te outlook for improvement in the domestic beet trade was brighter and that payment of dividends would be less burdensome later. Coca-Cola Earnings Net earnings of the Coca-Cola Com? pany for May were $376.680, and for June are estimated at $400,000, mak? ing total net for the first six months of 1921 approximately $1,672,878, ac? cording to figures made public yester? day. For the corresponding period of 1921 net amounted to $3.089,298. Sales for the first half of the current year totaled 7,906,771 gallons, con- ! trast-d with 11,368,865 gallon? in 1920. Expect Regular Pullman Dividend Directors of the Pullman Company are scheduled to meat for.dividend ac? tion the latter part of this week snd, according to information received in brokerage quarters yesterday, th? , regular 8 per cent rate will be main-' tained. The ?tock has held up well in the recent wave of industrial liqui-, dation and the present selling price around 95 Is in Itself an indication that there will be no change in the rate at this time. London Metal Market LONDON, July 18. -Standard copper, spot, ?70 12s 6d; futures, ?71; elec? trolytic, spot, ?"74 10s; futures, ?75 10s, tin, spot, ?164 12s 6d; futures, ?16? 17s 6d; lead, spot, ?23 7s 6d; fu? tures, ?23 6s; zinc, spot, ?26 6s; futures, ?27. Dividends Pay- Holders Kate.Period, able, of record. By-Product? Cok* Corp. ... T? <3 Aug. it Aiis. 6 New Martlnsville Ulass Co stck.100ft 1 ..vi,,.- - \Vhart?n fron & ? pt.,1%% Q Au?. 1 July Si Six Leading Tobacco Companie, Booklet containing ^ ?criptive report and his. tory of all the followi* companies mailed on H I quest? American Cigar Ce. Weyman-Bnitoa Co. Geo. V. Heime Co. R. J. Reynolds Tob. Co, MacAndrevs & Forbes Co Porto Rican-Am. Tobacco C? BRISTOL ? BAUER Phone. Ee cr or 4594 Specialris m all Tobacco Secafa, 1 Our ?FeeHy Suggestions Approi. I'rice Ylel4 Gt. Nor. Gen. 7s 1936 ....98% \15% Del. Ed. Com. 8s 1931 . . . 10014 1.%% ? Un. Drug Conv. 8s \ ? 1941 ...100 8.00^1 B. &0. P. L. 314s \ 1925 ...8314 8.50% On request we shail be glad to mail, regularly, our investment pamphlet ?"Weekly Suggestions." Hitt, Farweli & Park ? 160 Broadway Tel. Cortland 8950 C. & O. Seeks to Unite With its Subsidiar! Plans for Taking Over Oper tion of Smaller Company S? to I. C. C. for Approval WASHINGTON, July 18.?Authcri to unite for operation the Chesaptii & Ohio Northern Railroad with i Chesapeake & Ohio was sought of ti Interstate Commerce Commission i day in a petition filed by the latter, *j parent company. Three tentative pl?j were outlined for approval, the p* tion indicating that if none of thi was satisfactory the carrier would? come a suggestion by the coramisi to accomplish its purpose. The applicant railroad owns the sil of the smaller line, but indi? doubt as to the commission's probd attitude in view uf recent refusals! grant authority for such unified opfl tion where bot? roads are now ge concerns. It w?s stated ^pecificallj the petition tljnt no application ? made under piovis'ms for consola tion of the transportation act, as I properties are low under one raamf ment and in subltance commonly own Under the Clay;on ami-trust aet,i ever, the p^tiion asserted, conur dealing in supplies and materials : the two roads cinnot exceed $50.000 one year, which affects "heretofore! ficient economical operation of tin properties as a tem." The three proiose-i plans treto? erate the Chesajpeake & Ohio North? a3 an extension t>f and by the Che peaks & Ohio, acquirement of? smaller road by ?onveyance or au?? ity to assume direct liability fora outstanding in?btednesa of the Ch? peake & Ohio j?orthern. -,-1? Early Buying of Coal Is Adfiseil by Hoovfi not too high ? the pre there should bl a recove activities in n junction with f?e large ii U Commerce secretary See? Po* eibility fcf Difficulty in Gettnp Cars Later WASHINGTON, July 18.?Secrete Hoover has ad ised pub?c pa??es to buy heir winter coal supt early instead f waiting for possit lower prices. "I am com need," said Secreta Hoover's lette: ? made public to-fli "that, due to tr? .general depression, tl price of bitumi aus coal at t not too high & the present time. > ry of busing taken in ?J ?c ,?vge increase in PJ . :?nd the in4*B to linance their msM tenance there ire possibilities of derj opments of a bost serious situ?t.on regards coal rrfvement. B "I cannot bj feel that the Inters? Commerce Cotrnissicn, in the *aC,J\ warnings thei have sent out in *? connection, weald not be dispose? * give any'priorfy in such an event" State BanU in Kansas Close SALINA, Kai., Ju?j 18.-The Peo?'-'1 State Bank w?s closed to-day by ? State Bank lomin ssioner. 0ffic* said tL? balk Was placed in the ha?? of the comcisii?.p*t "pending i'3 r< \ ganization.' Snail'* Cork Industry A convenios of cork pro?,?c*j*M manufacture recently held in Mao. j adopted a jititiots to the Spanien f^' ernment tttake measures to pf'" ?>nd fosterthe cork industry., a hVa held arirnportatu place in bps commerce ? foreign markets. y"*J mercial AttCh? Ch?ties H. Conn??? ham report-that the last gathering ? cork in Apm amounted to ?J0,<w_" kilos,. vak>4 at 25,000,000 PesY?, The numbeiof workmen employ? '" this industrias been 85,000, e?rn?l 50,000,000 pettas in ?ages yearly- ^ ItWfon Mark?! tfuie* v_ LO?foV, Julv 18.?The tone OfW " * was quiet to-day. ?J r gold, 113s 9dj_ ?? : discount rates ? ,,t; three-month P?"|