Newspaper Page Text
Parjc^?nion FOREIGN BANK! IQ r0R?0PATF0H So Wall Street, New York Reviving Opportunities in Japan's Trade Improved financial conditions in japan and a marked reduction of stocks in practically all lines of goods foreshadow a resumption of buying by that country. This tneans fresh opportunities in Japan for American manufacturers. Maintaining our own branches at Tokio and Yokohama, we are exceptionally qualified to assist manufacturers in establishing contact with Japa? nese markets and to place at their service the spe? cial channels of information on trade conditions to which we have access. We will also be glad to co-operate by financing shipments, making collec? tions and performing other banking functions. Capital (fully paid).$4,000,000 Surplus and Undivided Profits. $625,000 OFFICERS Charles A. Holder. . .President T. Fred Aspden, Vice-President E. B. MacKenzie.Secretary Irving V. Scott.Treasurer Impartial Opinions on 260 Stocks Just off the press?Octo? ber issue of "Securities Rating Bulletin," giving in terse form the dividend outlook, current trade condi? tions, Aug. and Sept. prices, 1919-20 highs, present divi? dends, business prospects and market ratings of about 260 active listed securities. Con? veniently arranged in 15 groups, such as: Rails, Motors, Steels, Oils, Coal, Mining, Tobacco, Shipping, etc., with general discussion of factors affecting each group. Holders of shares as well as intending investors and traders should consult this valuable bulletin, prepared by -well-known im? partial authority. A?k for' X". AJ-22. RASMUSSEX&CO. Members ' '? ago Board of Trade STOCKS - BOND3 - GRAIN 111 Broadway New York Tel. !:? ' - 40fi 1 The Position of Fifty Securities We have prepared a ten-line analysis on each of fifty leading Stock Exchange issues. Their technical position and financial condition embodied in each opinion. ? ' Tuithout nl-liqalion 4 ' ' ?; I .": V . - MS-Wolfe si Co. 4\ BROAD ST..-NE.W YORK Miscellaneous Murkrts Pnhlir i tilit-, Seeurltica Bid Val? B ! Aik Aii r .'. ? ?? - 12" A ??-.., ''???? . ? ? !',( 7 t A .-. ;. ? ' . ; ; Am V t;i ? ??? m f.|. ??? V i I'w 4;i IC ,78 ? i I. 6 ? ' ' 17 21 ? ? , Mo pf. . 97 100 ;.?.:. ? i ? i ; : . ? ' 2 1 , .,, : ' ! . : ? ?'. . ??-.?.- 23 P? 70 1 Bondl M 1 - . ? . '? ( hereh al ? tocka ' " ' ? 4 - Am Cj ( 4 g '? (/ ? i, /. . Insurant > f< mpanlea . 4 ?,.???-;? ,i i, ? ? Tobacco St'i'-K? pi l - ? ' ? M' K t? t fH ?-I-? ,-. -\i\ ? iri'i ?(.: Off - !(.? '.? <t ' V i ? ka*' *Z.i is. . Und New York Bank Stocks Bid. A?l;ed. UM. A?lted Ai lerlca _167 174 Gotham . . Atlantic ....210 220|Greenwlch ..235 A::i Exch....230 240 Hanover . ...776 Battery .145 loSlHarriman ..?45 Bow ?.-.? .... 425 450 Imp ? TrdH.490 Bway CntI...U5 in Industrial .. 155 Bryant Pit..105 175?lrvlng Nat..177 Bi mx Nat...150 ISOMnhUn <'?>.. .hi Butch ?? Dr..130 140Mch&Met ..310 Cenl M".. I. . T.- 200 Metropltn .. . 350 'I ase . . . .2S0 290 Mutual .510 245 Nil Am .I4G 90 Now Nrthn. . ISO :.: - \ Y County .!:;;. 490|N V X B A. .400 225 i' cine.7<>o 160 Park.405 785 3 60 5.; n 155 150 4?') Chat t I'll- -ft ChP.'sea Ex.. 80 City.308 <'!;? ftftl al .4?.'i Coal .<;? Iron..215 Columbia ... 100 Coloi ..: . . . . 350 Common e . . 230 Conipln .... 100 Commnwlth. 215 ? :ontintl ... : i Corn Kxrli... 320 East River.. 170 First Nail. . .S50 ST" 5th Ave . . . .900 ?th Nati .... 150 Garfleld . . ? .215 United States Treasure Notes and Certificates of Indebtedness Month. Year. P. Ct. Bui. Aakotl.TH.lrt ? Publi, . ". Seaboard . i 20 s. cond . . . -Standard ; Ward -- Ctd States Cnion l.\ ? Wshg lits 160^Yorkville . . : 8 '. 4 6 0 .200 .235 ..200 ' 58 . "?: 241 24 5 225 1 '11 175 100 i 100" 100ft, 100-U 4.51 . [OOrfV, loo,7, 4.48 ft 1 '"-'/? 100 A, 4.51 , tiiiift 100?3 4.60 ! 00% 100 >? 4.75 100H lOOi.j 4.S 4 100 H nlflin 4.83 101 .s,t 10OV? 5.18 100% 10?% 5. IS , acceptable in payment ot Federal taxes ? orr t ho dates of maturity. Federal and Joint Stock Land Bank Bonds Fed. ral Farm Loan ?December. 1921 Kobruary . . 1 922 'March. ... 1 922 '.M;trrh .... 1922 ?March. . . . 1922 M une. 1922 August. 1922 ?September 1922 ?June. If'2 1 *S : t?mb'er ; 92 I 9 '.'? ' i 00 1941 op : ?? : . . . . . ; ? , ! Y rm Loan 5s ? ' - ft;. 1923 . 99 I ? .! Farm Loa :: 4 Vis. 9, op 1924. 9." '-j Federal Farm Loan 4'2". ; - op 1923.9 i-, 1 oral 1 -'a rm Loan ?> '2 s, 1 937, op 1922. ?;??.; Jol it SI oek 1 ?? nd ! '.a nk . s ",' 1 . . . 2'j Joint Stoolt !... nd Bank 5s, 1 9; 8, op 1923. 92 1, Standard Oil Co.npanlfs 9'.'\ 9-|.,? 94 U 91 '?; 93% A.: ' I' Atl Kfg . 530 do pr...106 Born. Scr. 325 1 ; ? PL. -0 Cl ? Mfg. ' 45 do )'(. . . 96 Contl Oil : i -' P 1... 27 t'U! . P 1.. 122 ! .?:..: Ci S O n pf ' 1 ; 1 con 12 .7" 108 350 1:1 127 Bid P O i Cl .520 l'ral P L..200 Solai Rfg.35C Sou P I, . 75 So Pnn 1 '. 18S ??.?. Pa P L. . ?ft 'i Cal.. 77 5.00 0.02 5.00 5 01 6.03 5.54 A: k 520 2 0:: 3 70 80 : .2 Ind.. 71 Neb. N .1 Pf N V . 7 . 575Vil ion 1 i 1 108 :; 10 I III P Une 160 165 SO? ?hio 365 395 Inrt P Ln -' 84 do pf. . . 108 110 CoLrl 13 1 ?". \* Swan ?? F. - " 35 ?ft '1 t: . 27 28 Union Tk . S 5 90 N \ Ti tin 143 152 ' do pf. . . 90 98 ? : ? !, ? , - ? Vi'i uu Oil.270 2S0 low ' "'. 27i \v, shg ' HI.. 30 35 !-.. , M !'. 184 2'-. ; '!':i- $25. Miscellaneous Oil Companies It : Ask?-1 I'.i'.i. .*?. : V. LobOP 9 '?'??? Midw Rfg 140 150 do pf .. 40 1 sun r ?-,.. 'r nvi Br A:'... ? ?? \'i Ihn 1 1 2" .25 Coa & i- > ? "rft .? !?, , 1 4 14 eu in ? p , ??? -. ?a ck i'r<> 11 % yy. ;? ? ' 1..1 -, Sapul llfg. -, 3 -, Mapi Pi ?;:,*" .11 WS? ''f. 1. 2 4" Mr rr O (.1 - -. 'Par S10 New York City Bonds ? R '' Malm Itv Bid. Ai : ??. . . 92 9 I ? - ? ? .92 :? 4 ' - . II - < .. 1957... 92 9 1 ?, 1. :?????? 4",h. I 9ii 1. f',:.. 1962 ' . 1900 87 \ Tiel'l 4 ru 4.91 4 . 2 4 94 ? , ? ' 1 ,. ,.: 19^0 -7 do 4?. 1959 . ?2"-? do 4a, I9ftf .82 V? 87?? 8-: 1, R-g .1 13 I'M In. ? ?. 1. 0 i'..' Reg .... ; ft . rial.I , ': 74'4 -, I 1 -, ?' ? 'A ' . '? 'v 76?4 5 20 :, or, . , ? 5.10 5,75 5 10 4 94 I 94 : 95 I 96 I '-6 4 9fi 4 9 7 4.9!? -, ?7 .'. 03 1 '.:, 4 95 4 96 ?? . ' 2 I in 5.755.10 Short Term Securities ' ??-) ? ? Ral . 1 Mi.- BUI \sked. Yl< IH A m r '. ??>?? ? 78, 192S. 99', 99'^ 7.15 Cotton Oil 6s 1924 ? ? 9?', 9.60 Tel ..? I' ? ' -. 1922 99 ??, 99 % b I 2 I .',.??,.,,?., A ? ? : I 1 ?? - 9 7 ' ? 98 6.35 100 H 101 i? 2 95 923 101 i? 101 \ >?? 1 '. 1 ? ' 'ft !? ? ? 1920 90 \ 9 1'. 7.7." ?> I Tel ' ' ? l.li . ?, - . . 98 96 -, ft' ' , 98 14 100 1. t ??? '?- \ . . ?- , '? ? ? , ' . . , n ft : ? . : ? ? ?? i? ???'.. .-?- -. V 8m, 1921 . . 100 ion 1, ,. ? \ ? ? - ? - ? : "" '., 101 . :'ft 101 '4 1'/? yy, 8 00 7 :.", ?". 25 I 40 ??' r ; -. ? : ' i ???: ?? ., 1: 1: 'ft. ? ? I ?. ' 7 ? ?ft Ivun fit) : ? . ? '. I, . ? ' i "IV .- ' ? ? Tob 6: St Cam I ? : . - ? . P : 'ft I ? ' .! 100 100 ? . '? " ' ;-')??. i"! ? ?ft '. 05 1 ? I II . ' ? ' ? I- . . ., ? ; . 'ft (O? 1 ?ngl r I irm Sefli nt I?"? '? 1!, ? .1 12 ''0 ' M ' I I % I Investment Information Questions of general interest to in? vestors will be answered in thin col? umn, in which case only initials will ! h.- used. Others will be answered l>y mai!. Address nil inquiries, inclos? ing a stamped, addressed envelope, tn Financial Editor. The Tribune, /.5J Nassau Street, New York t'i>\i. t .. _._,_1; Business Man $20,000 Investment Que; i im- Will you kindly give me your' opinion i-n the following lisl of securities ?ii an Investment for s business man to the -?xtf-ni of about $20.000: $2,000 French i government Ss, $2,000 Kingdom of Norway Ss. $2,000 I'nlteil Kingdom 5 Vis, $t,oon ; Canadian Northern guaranteed 7s. $2.000 I'nlted States Rubber first refunding mort- I rage 5s, $2.000 Montana Power first and re? funding mortgage (is, $2.000 New York (ins, , Electric Mght, Heal und rower llrst col- i lateral trust 5s, $3,000 East Tonn.-mir". Virginia * Georgia llrst consolidated mort? gage 5s, $2,000 St. Louis & Ran Francisco '? general mortgage r,s V Also will you give ; your opinion on the National Cloak and ; Suit Company 7 per cent preferred and ? Aluminum Manufacturers 7 per cent pre- : ferred ? Are they considered safe Invest- ! menta al the present time? I E D. Answer- Neither National Clonk and Suit preferred or Aluminum Manufac? turers preferred are, in our opinion, j safe investments. Especially is that; true at the present, time. The busi ness of both is adversely affected by j post-war conditions, and in neither business is it certain that the corner has been definitely turned. This, of ; course, is our own opinion only. Of ' the bonds that you have, we think j that most of them are pood invest tnents, although the East .Tennessee. ; Virginia & Georgia first fis are not! readily marketable. The St. Louis & '? San Francisco general mortgage 6s are ! a business man's investment, ?n our opinion, and only fairly attractive. We Don't Have a "Board" Question?Do you believe that by buy? ing outright twcnty-Mve shares each of General Motors and Hupp Mi.tors they will by patient waiting bring good returns? Also Middle State? Oil and White OH? 1 know you will say they are very specula tlve, but the IJrst tln-pe pay dividends, and It seems to me tiny will not go much lower, if at all, I am not trying to tell .\iiu. 1 am asking: but are they not a fairly decent sp?cul?t Ion ? 1 want to take on a few ?hares of Pierce Arrow, for I do believe when motora start that stuck will travel .much more rapidly than the rest, and :t most certainly is a long way off from the high of 00 or more, which il showed Bbuut a year ago. Hut I believe you are in a definite position to know the real reason why they are as they show to-dav. Do you believe there Is n great ghost of a show for Alaska Gold'.' ? I". W. W. Answer - You guessed it when you ; intimated that you had speculative j leanings. VVe urge you to be cautious , or those leanings will be, precipitated into a speculative crash. We absolutely : refuse to be drawn into a discussion of , those stocks. Our department is not a board-room, and although we sneak away a bit early in the afternoon every now and then to try out a new putting stance we are not a customer's man. And if we have tips we don't speak of , them above a murmur. The Uncertainties of Pullman Question?1 have some Pullman slock T bun:,')'.; for an Investment, and from the j action of the stock and the annual report . which I have lust received am wondering . if ?r is policy to hold it. As they do not j publish quarterly or monthly reports it Is Impossible for mo to know- if lh. ir earnings j are improving or not. I have about $'.(>:> to Invest, and a?k your opinion of the fol lowing storks: General Electric, United Fruit, Texas Company, United Fruit Stores, ami Columbia 'las ami Electric, The Pull- ! man cost lOi;'.!,.? J. C. N. Answer Pullman company has paid; the regular dividend of 8 per cent an- ? nually since. 1900, nnd it is our opin- < ion that the company will be able to maintain that rate. But that is.simply opinion, based chiefly on the company's sound management and on the possi? bility of a revival of business within the next six months. Wo admit that there is much to be said against our belief. For the year ended July ,'?l the company reported a deficit after divi? dends of $,'(,17S,000, against a surplus the year before of ?3,313,000. The company earned only S5.10 a share for the year, against $10.76 the year be? fore. Continuance of the 8 per cent dividend will depend on future busi? ness. Your guess about that may be as good as ours. At any rate, we'll let you try it. We think that all of the stocks you mention are attractive, but like General Electric best. But here again it is simply a matter of opinion. Coupon and Registe red Bonds QuesMon Subject; Investments paying ?rleresl by check, rn.> coupon. My ex? perience is thai collecting for coupons Is tin-Infernal nuisance, and so l like regular 1 nit il States bonds receiving semi-annual , lo i '?- punctually, but the rate, of course, la low. Are there any Rood bonds paying (1 vi*: cent or <o that ran In registered and interest forwarded, or in'j?t one buy stock In order to receive Interest without going to bank, ami complying with sundrj red tape formalith s? F. M T. Answer There are many good bonds that yield 6 ]ivr cent and which can be registered, the interest being sent to you by check semi-annually. We suggest Chicago $? Northwestern col? lateral sinking fund 6s, due 1020, re? cently selling ai 96V6 for the coupon bonds i you could have these trans? ferred to registered bonds, which are quoted at 99); Pennsylvania Railroad 7 per cent bonds, due 1930, recently sold at. 104% for a coupon bond, and ion1., for a registered bond; North? western Bell Telephone 7s, due 1941, recently sold at 104Vl fnr a coupon bond, and in July at 101'i for a regis? tered bond. There is a certain amount of ni! lape involved in having your bond registered, but after that, your trouble ceases and you will get your in! eres!, by check without any red tape. Appalachian Power 7a Answer Appalachian Power IB-year secured 7 per cent bonds, due 1936, are in our opinion a "ood investment. They are secured by the deposit, of $6,000,000 general 7s, which arc in turn secured by a general mortgage on the property. The company furnishes power to coal niiiiing companies. M. R. T. Reorganization Question Am n widow aii-t although nol dcp< ndi nt mi i his Intel est. I " ould n s!< .. ,,,,. ,,|i |ee ?s to v. hel hi ' lo sell or hold $5.000 Hrooklyn Itapid Transit Du of I ? I ' ? ..., .o |e|| me of i he pri sen! slat un of thl i - ?:??? and -i ha? ho,pc foi same max h ,.>.,..., ted " I was advised net In deposit Answer ', here is comparatively littl ? that we could tell you about Brooklyn Rapid Transit ?iftecn-year ."> per cent bondn, due [945. The receiver has is? sued $18,000,000 of receiver's c<r?ili cates which rank ahead of (he ? pe? ci nl bond i, and rece?? ly i hese receiv er'-; certificates have been extended t > )?? hi uary I, 1922 You have read the report of the Miller Transit Comm imi on the New York street railway situation. In time there will be h re organization of the Brooklyn Rapid Transil Compuny, nnd new securities of one kind or another will be issued in place of the old ones. The whole n ices? of reorganization will probably bo a ? low one, and wo would be in , , .,. .| to ? di ti i b nds. limr full columns of in vvstnti nt questions and an r.ui'i: art' published in The Tribune every Sunday i_,_ The Week in Business Retail Trade in Apparel and Seasonable Goods Stimulated bv Colder Weather; Cot toi?s Continue Activity NATURE, through providing cooler weather hist week, gave the gen? eral business situation a decidedly better complexion. The lower temperature had the effect of driving consumers into the retail stores for fall apparel and other seasonable merchandise. For some time past primary markets and the wholesale fields have been relatively more i active than the retail trade. With the latter showing a healthier move? ment of goods into the hands of people who consume them, the entire situa? tion appears more relieved. ? ?-"-"-'? However, according to most reports,) consumers are still demanding low prices, coupled with quality, und re? tailers who have made an effort t > meet this demand appear to he pros? pering more than those tiiat have not gone part way to meet their customers' wishes. In the retail field here and in other parts of the country special sales, many of them advertised as "no profit" sales, have materially assisted in bring? ing out latent buying power among th ? consumers. Where such special sales have been held the response has been liberal, especially in the wearing ap? parel and piece goods departments. Reports from many sources that the unemployment situation is improving also was a factor in heartening busi? ness men who are looking into the fu? ture. In the textile linos cottons held their recent price advances, and goods that have lagged behind in the general ad? vance were brought up more into line with the existing level. Woolens and silks are relatively duller than cot? tons, but si^ns of improvement are not lacking, and the more seasonable weather has given manufacturers and merchants in these lines more encour? agement for the future. The export trade situation continues beset by the problems of exchanges and credits, as pointed out last week at the convention of the American Manufac? turers' Export Association here. A straw that indicates h?w some are view? ing the situation was the adoption of a resolution at the convent ?on condemn? ing high tariffs and the American val? uation plan. The uncertainty of fu? ture internal taxation and tariff pro? grams is still deterring business, ac? cording to many trade leaders. Statistical reports from chain store: and mail order organizations showed good increases in sales duing Septem? ber and collections in general are in proving now. These, together witl other factors, seem to indicate that th( situation is definitely better. Thes? evidences of improvement, however, i is pointd out, do not portend any boon in business. Secretary of Commerci Hoover last week stated that the recov ery will be slow, and that much prici readjustment still hangs over the busl ness world. Silk.? Further advances were made las week in raw silk prices, the influenc. mainly of a better demand in th. primary raw silk markets in Japan an. the rise of silver affecting Chines silks. Locally demand for raw silk has been only slightly better and mill are hesitating to pay the advance. prices except for tilling in purposes o to finish out orders for goods. Th silk hosiery and underwear trades ar still on a high level of activity and ar providing most of the demand fo raw silk. The weaving trades con tinue depressed, although a brighte outlook is seen in some quarter.-.. Fir ished silks can be bought from variou sources, chiefly jobbers, at prices be low the open market and this has a unsettling effect upon the manufactui ers. Some of the smaller mills, toi are cutting prices because of financit pressure. Cottons The week in the cotton goods trad was marked by a further advance i unfinished goods and the naming i new and higher prices on denim sheetings and similar goods, and betterment in the buying of man goods that am still available at o prices, or prices only slightly abo-, the scale prevailing in mid-summe ? The better movement of dry goods, I iMc daily cottons, in all sections of the country is shown in the October hulletins of the various Federal Re serve banks which report great in? creases in wholesale sales for last month. The movement is continuing at ^ present, although orders are still small. Retailers are buying more frequently, however, which keeps the volume above previous figures. I Raw cott.n prices are still eon-, lidcred speculative by cotton goods; manufacturers and traders. The better! demand for goods, coupled with the | iow stocks of cotton and yarns in most ! mills, has led the mills to buy more, cotton to cover the orders for goods j now coming in. in the primary markets goods are being offered out for de- ! livery into January, but further than \ this neither buyers nor sellers appear willing to negotiate. Woolen? Two more important offerings of I .women's wear fabrics for spring of I 1922 at prices lower than those made on similar fabrics for fall featured the woolen and worsted goods market, | which otherwise showed little change from the week before. Colder weather is expected to create a demand for more fall woolens within the near fu? ture, but as yet any reflection of the weather is missing in primary circles. The selling of goods for fall and next spring is proceeding in a leisurely | fashion, and some cancellations have come into the market, particularly on ! the higher grade fabrics. In the men's wear lines the distribution of goods costing more than ?'_'.50 a yard seems difficult. Fur.* Colder weather stimulated the de? mand for furs at retail last week, but had little effect upon the wholesale I market. The women appear to be I lighting shy of buying the larger fur garments and are confining most of their purchases to the smaller pieces, ?such as choker scarfs of marten, mink, ; squirrel, etc. Manufacturers maintain I that it is difficult to pass along some : of the increases in price shown in the recent fur auctions and therefore are hesitating to make up stock in | advance of retail dealers' demand. The movement of raw furs'was light last ] week, but prices were firmly held. Apparel ? Augmented activity in the local , wl olesale apparel markets was re ? ported from most sources last week. j The colder weather, together with the ; small stocks that retailers carry, made 1 the reflection of consumer buying al ! most immediate in the wholesale mar ! ket. During the week many large re ? tail concerns were in the market for ; largo quantities of women's dresses ; coats, suits, skirts and waists for spe | cial sales to be held in the near future. Although stocks here ready for im I mediate delivery are not large, the re j tailors found little difficulty ?n finding what they wanted at low prices. ( The men'', fall clothing retail busi I nes ; is developing slowly, and many re ! tailors are staging special sales to stimulate consumer buying. Leather Some slight improvement was shown last week in the general leather trade. Although individual sales of magnitude were entirely lacking, there was a stronger demand manifested all along trie line. Sole leather dealers reported a broader demand for their goods, while dealers of black calfskin upper leather and glazed kid also noted a better demand. Shoe retailers experienced a slightly, larger call for their merchandise. Man? ufacturers, however, reported few re? tailers who are speculating on their ! probable needs in the distant future. Jewelry Last week was another of those in between-season periods, with little im? provement noted. Littie disposition on the part of retailers to deviate from strict conservativeness in ordering was apparent. Some of the articles moving with some regularity in the retail stores arc diamond studded bracelet; watches, brooches, novelties, men's I high grade American watches and pearl necklaces. With the fast disappearance of Rus? sian diamonds from the European markets, diamond dealers have taken I on new confidence that business will \ soon begin to show some improvement, j . -^ Holidays 'I lib Week Monday, October 10?China (anni? versary of the revolution), Cuba, ( revolution of Varal, Hong Kong (bank holiday), Sierre Leone (Prince i Alfred's Day) and South Australia' i Eight-Hours' Day). Tuesday, October 11?Brazil (State! of Sergip?). Wednesday, October 12?Argentina, j Brazil, Colombia, Costa Rica, Domi? nican Republic, Ecuador, Guatemala, : Honduras, Mexico, Nicaragua, Para- \ guay, Peru (discovery of America),! Panama, Salvador (Columbus Day), Egypt, Morocco, Palestine, Turkey j (Day of Atonement). Fernando Pol (national feast) Spain (holiday rr the ? race) and Uruguay (America Day).; In the United States (Columbus Day); ' Alabama, Arizona, California, Colo-| lado, Connecticut, Delaware, Idaho.' Illinois, Indiana, Kansas, . Kentucky, Louisiana, Maryland, Massachusetts Michigan, Missouri, Montana, Ne? braska, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Islan i, Texas, Utah, Vermont, Washington and West. Virginia; also in the Terri? tory of Porto Rico and in North Da? kota (Discovery Day). Thursday, October 13?Alabama i Fraternal Day ). Friday, October 14?Mauritius (last i day of Mohorrum), Siberia and Ukrai- j nia i Intercession of the Holy Virgin). Buyers Arrived I .lirrliUri SerTic? ATLANTA .1. M. High i'.).; .1. D. Bellah ladles' reaily t,-. wear anrl furs; 11C W. 32d at. United Manufacturing Co.; A. Goldberp, merchandise manager, woolen piece goods. cotton piece gouds, flannel?, domestics; 3 W. 29th ?t. ASHTAHI I.A. OHIO Wolin's: Nathan Wolln. coatH ?n.I dress? es: raro of Goodateln, 1270 B'w?y. ?AI.TIMOKK American Clo.il: A- Suit Co.: S. Greon hood, cloaks and nuits: Herald Square. !.. Greif & ilru. ; D. L. Greif, mfr?. cloth? ing; 200 5th fir. I r. D. Heller ?- Co.; C, D. Keller, milli? nery; Pennsylvania. M. l.urle & Co.; Phil Daniel.?, job? suits Hoffman AS- Hartblay, 117 W. 33d hi Hlsenborg's; H. Sternfleld, dresses, coats suits, sweaters; 27 \V. 26th st., care Ben F Levls. M, Swartz, furs, fur coats; Pennsylvania. BANGOR, ME. Besse System Co.; Georg? C. Dorr, la? dies' and men's clothing and millinery. Prince George. BOSTON Tuxedo Co.; A. Oltarsh. sport coats; Af? filiated Retail Stores, 1372 B'way. William Filene's Sons Co.; (bnsement buyers) Mr. Tobey, shoes; Mr. Peardon, gloves; Mr. Day, waists; Mrs. Kasanof, women's neckwear; Mr. McGinty, men's furnishings: (upstairs buyer) Miss Murphy, misses' dresses. R. If. White Co.; Miss S. Budwig, In? fants' wear; Miss A. Roberge, aprons, chil? dren's coats and dresses; ('. Koven, men's clothing: J. A. Taylor, handkerchiefs; neckwear, laces, trimmings and veilings ?C-?2 4th av. Gllchrlst Co.: basement buyers: A Cohen, conts. suits, dresses, skirts; Q. T. Wtnche, - ter. silk and cotton waists, sweaters; Miss I. Markus, girls' and juniors' coats and dresses; Miss H. Kellner, muslin and flan? nelette underwenr, Infants' wear; Miss K. I,. Itlce. hosiery, underwear, gloves; 200 5th av. Jordan, Marsh i" n. ; P. A. Bunllck, wom? en's routs and skirts; Mrs I.. Altlmus, ladies' coats and skirts (basement); Miss C. I. Blume, (??ris' coats, dres-cs; Miss A. V, Burns, ladies' dresses (basement); M. Fitzgerald, representing; Miss M. A. Con? nolly, misses' and children's corsets; M. Hardy, representing; Miss G. 13. Hurti buse ladies' suits (basement); It. G. How? ard, millinery; Miss M. .). Kell.-y, trim? mings (basement and upstairs); Miss A. .Vagi , art embroideries (basement); Hugh Owens, art embroideries, yarn?.; Miss A. Chaloux, corsets (basement); Miss J. B Rowcll, corsets; S. F Emery, cotton nnd ?ten.-h un.derwcar, petticoat?; G. W. Ross, w. in< n's tailored and high-grade suits; r. .1. Robinson, china, glass; .J. G. Ryan, house (Ir-ssep. negligees, aprons (base? ment); Miss M. Sweeney, women's tailored and high-grade suits: 11. J. Trumble, cot ton underwear, sweaters (basement); M. Se<-ly. representing; Clifford Sennott, cot? ton waists Cohen Bros.: Joseph Cohen, hosiery, un dcrwear, notions, lingerie*; Alcazar. Mary Harbour Co.; t?. I.. Brown, milli? nery; Breslln BUFFALO Liberty Clothing Co.; C. A. Harris, men's and boys' furnishing goods: Pennsylvania CANTON. OHIO Klein-Hcsselman Co.; Miss Kuhn. N. B. Allison. Jobs coats, s'Jits. dresses; 1170 B'way. I'HARI.IITTK, N. ('. Joseph Loeb Co.; Miss M. Qetzy, milli? nery, 220 5th av. CHICAGO Empi rlum Wi rl ! Mil Inery Co.; 8. Kauf? man, millln, r\ ; 621 B'way. N Ribback ,.v Co ; M. \V. Fried, mfrs waists ai-'! dresses; Pennsylvania Rothschild.? Co.; W. ?. Mullen, gift novelties; 47?> 4:h av. Marshall Field & Co : Miss H, : ? berg petticoats; Miss M. Williams, women's neckwear; S. F. Cooper, wholesale corsets; Mrs. M. It Perjiins, embroidery silks; C Obollttle, white goods, retail, A. G Will? ing, white goods, wholesal . F Brady hats; G. A. Wilson, Hudson seal coats. 1107 B'way J. Gordon Co.; J. Gordon, men's cloth? ing. Pennsylvania ('. H. Johnson, dry goods, men's furnish? ings; Pennsylvania, Hamilton Bros.; J. C. Hamilton., wom? en's ready t ?? 's - RreMln. CINCINNATI John Shillttr. Co.; H W. Peters, tr.-n's clothing, care R. W. Hawkey, 4.': 4th av. t'l.K.VKI.AMl O. S. I, Hing a Bro ; S. Blng, carpets, furniture ; Cmil I ni>n*nl COM Ml? S, OHIO F' ibel Brothers. Mrs M. GogganS, read;.' to wear, children's war; Pennsylvania. cox o it n, n. c Parks-B,-1!-. Co.; J. G. Paris, general mer? chandise; 116 W 32d st., care Alfred Fantl, DALLAS. TKX, Lorch Mfg. Co.; A. Lurch, tricotlne rivolc .suits; ! 1 r,n H'way DAYTON. OHIO Friedlob & Lew: M. 1'. Levy, dry goo,Is. general mdse, ; I '? nnsylva nla, Rider-Johnson Co.; E. K. Martin, ladles' ready to wear, nuise, manager; Charles A Cook 276 5th Adler &? Child?; t '. C. Adler, millinery, coals, suits, dresses, waists, furs, fur coats, kimonos, neglig.es. bathrobes, shoe?; 252 4th av., care Klrby, Block & Fischer. DKNVKK A T. Lewis & Pon. E. I". T'awson, dress goods, silks, velvets: 3 W. 29th si. DETROIT Frank X- Seder: Miss Sivcrd. .lobs of dresses; Affiliated Retail Stores, 1372 B'way. CrowlAv. Mllner & Co.; L. T. Crockett, |obs children's beaver hats; Alfred Fantl, 11? W. 32d s(. .1. I.. Hudson Co. ; C J, Gibson, oats, 225 r.tii n\?, J. L. Hudson Co.; Miss s. Cherkose, ho? siery ; 225 5th a v. Newi omb-F.nili. of, i'o ; F J, Fry, assist ant merchandise manager to Mr. Scott; MIh.-i M. McCarthy, waists; Miss H. Pllber mnn -epresentatlve ; H. Byron Scott vlce piisnent ami merchandise manage! ready to wear, 20u r.tb a v. ELMIBA, N. Y. r.. Rosenbaum & Sons; H. M Rosenbaum representing; :is W. 32d st.. 6th floor. FALL RIVER, MASS. Abraham Kosher, dry goods: Grand. F1TCHHI RG, MASS. C.inmbcrlain-Huntress Co.; William C. Huntress? dry goods: Woodstock. (?IAM) RAPIDS, MICH. Coronet <"ors.-t Co.; W. G. Wright, mfrs corsets anil accessories: Bristol. GREENSBORO, N. C. Brown-Belk Co.; T. B. Brown, ledles ready to wear: Alfred Fantl, 1 l'i W. 32d st. HAilERSTOWN. MIL Emporium World Millinery Co.; C Husch, millinery; 021 B'way. Brown's Smart Shop; M. o. Levine, Jobs coats, dresses, skirts; L. Harris, 120 W. 36th st. I?ARRI8BIRG, PA. Kaufman's Cnderselllng Stores; B. T. Shuman, dresses, coats and suits, skirts, muslin underwear; 11. F. McDonald, house dresses; aprons, wraps, kimonos; care Ben F. Levis. o7 W :??;:' st. IIOISTON, TEX. W. ''. Jlann Co., A. Hill, coats, suits, waists, skirts, furs, fur coats; W. i '. Muni) representing; ?,'?'? 7th av., caro J, M Big? gins. Fashion: i>n Wolfman, ready to wear; 1123 B'wnv. INDIANAPOLIS Nash-Liebllng Co.; N. Liebling mfrs. and Jobber:) ladies' waists, I..?thai:.. L. S. Ayres Co.; .1 Gutman, rh and growln girls' wear; 225 5th av H. P. Wasson A- Co : Miss B. E. F sh man, waists; 110 W. .IJd st.. care Alfred FariU. L, S. Ayres Co.; .1 Gutman, shoes; care Retail Research association, 225 6th a\ KANSAS CITV, MO. Emery, Bird ?.- Thayer; F. I. Wosley, men's und boys' clothing; G. H. Glen, men's furnishings: J. '!'. Hunt, silks and dre n goods; W. P. Schollen and H. S. Chap?n i basement), ready to wear; 25 Madison av. KEENE, N. II. W, P. Chamberlain Co . Frank Huntress, dry goods, ladies' :-.??:; to wear; Wo-. . - LANCASTER, PA. Emporium World Millinery Co , H, C. Pelser, nil lllnery ; ?.?-' ' ? I - a y Hager & Bro , M :-? Enii i " lions, trimmings, ribbons, hi neckwear; D. G. A lam ? 104 4'.h .:?? . LIMA. OHIO Le ad e r Garment , rx.tr, n l H K ru r ger, coats, furs. !. Harris . . V 5th si LOS \NGELES Bullock's: A Scharps. leather ; blouses, milllnei y ; B. J I. - - : nlshings. w m.n ren's wear hosii r ? . ':. s clol h ing. 1 - 225 5th ... A. Hamburger A Sons; E \A R ' .. furnishings ; 225 ;?; h ,, roi - Broadw .. : ?? pi St i - Miss ;' --? c t'.ons ; Mrs T mi ions muslin n I Transactions Last Week in Listed Stocks iContlnurd from ??contl prirceiilrc ?aue) High Bow Dir. 1231. Bale. 1921. Date, in %. Sm}ea nigh 1 n fc 101 .Ian 3 67'-. .lune 21 G Southern Pacific . 27900 80'k 78? 79V 1/ 24% J?n 13 17:s? June 20? Soulhrm Railway... 4000 20'"3 20 20'-^ ' ' 60 .Ian 13 42 June 21-- do pf. 1HQ0 47t j6 4? _ 1 111 Apr 5 83 Sept 2 8 Standard Milling . 100 9(5 qC qfi ? , '* 79 Se|* 14 75 June 18 6 do ?f . 10 74 ?4 ^? J_J 77-?4 Oct 4 G7-), Jrtne24 4 Standard Oil of Calif 2300 781., 751, 731,: 31 1671.. Jan 13 124' 2 June 17 5 Sl.indarii Oil of N J -'000 146% 140 " 146-1 ' I 6 * 110 Jan 20 105'3 J.in 3 7 do pf . 6100 108 107 108 "* '' V. 82 Kch il C6 Sept 23 7 Steel & Tube Fdy pf 400 68 66?4 68 ? % f,8 Sept 8 31 Ort 8 8 Sterns Uros 3"? pf 121 82 81 81 ? 1 37 Jan 24 21 June 6 2 S'rw -Warner Speed 900 25'., 24 24 ? 13-i 46 Apr 30 25'4 Aug 24 ? Slrombrrg Carb .... 1100 29'n 29 29_1 93'4 Apr 29 433a Jan 5 7 Siudehalier . 68200 f2'5n 71 72t'-, f 17/ 103-, Jan ?' ?;'., Aug 29 ? Sub lion! Corp .. 2300 4 V4 44 1/ 13'4 Jan 3 1^ Aug 10 ? Suprri.ir Oil . 24400 8'4 5 8 . 2~* 25-4 Jan 10 43/i, Aeg 26 -- T.mlor (' & Kr?A . 200 7'3 7 7 ? IV 101.4 Apr 26 6'-,, Aug ?6 ? Tenn ton & (hem.. 1500 8 ~3i 7i _ -,3 45 Jan 10 P.9 June21 3 Texas Co ... .S92C0 38-',, 36'. 38%| 134 27'2 May 16 16'? Jan 5? Texm fi Pacific. . 5800 21'., ?2'8 24 II 36% June21 15% Aiir 24 1 Tex-Pac Coal & Oil, SCS'-Q 26 21% 255-* i 1 175 May 3 119 Sept 12 8 Tidewater Oil ... 1C0 123 123 123 ' 4 260 Oct 6 210 Jan 20 ? Tex & B?c Band I'r. 10 260 260 260_ 203? Mar 21 12'/2 Aug 29 ? Third Avc Rway... 700 14 13 14 _ 1 72 Sept 13 45 Mar 24 6 Tobacco Products ... 12400 66 60% 6"" ,? 2'i 91 Ja" '' 76'/2 July I 7 Hopf . 200 85', 85<4 353/4-1 Vr Wz Jan 11 8 Apr 6? Toi St I, & W ctfs. . 200 10 9">? 93-_ ,? 20 Jan 6 15 Aug 25 ? do pf ,-iB. 2C0 I >l/2 15' 2 15!/2? ' 13 Apr 25 6 Aug 24 ? Transcontinental Oil 36300 0' A 8 834 : i/8 44' j Apr 25 23 Junr:'l 1 Transite Wm, Slcl. 300 33 311/. 311/,,_ 37 160'/2 Fch 25 1211-2 Aug 25 10 Underwood rypewr. 100 125 125 125 ?? 75 Jan 13 57 Sept 12 ? l'nion Bas & Paper. 300 67' ? R4'4 65'ft? t/2 25' 2 May 19 ',5's Aug 25 ? I mon Oil . 25700 20 ' 17 19^ i 2',? 123:'8 Sept 24 111 Junc21 10 I ?ion Pacific . 7200 122', 120', 122',? '? 68 July 16 62U July 1? ? do pf . 400 67 65% 67 1 106 Jan ',9 100 July 21 7 ('titled Cifrar St pf.. 100 100 1C0 100_ 106 .Inn 19 40 Sept 13? United Brup . 5000 59' ., 57 58' 2 1 2'4 47 Keb 16 36'ft-, July 27 3!/2 do Ist pf . 400 40', hO 40 -_ 207 Jnn 7 95'-4 June 20 3 United Fruit. 3300 1095-1, 107'8 108',4 ? 1>, 12'/4 Mar 3 6 Auk 25-- United Rway lined 100 li :? 8'8 8-'? . % 26 Mar 3 17 Auk C6 ? do pf . 100 19 19 19 , i/? 621.4 May 23, 46% Au? 22 6 United Retail Slore. 40500 52'., 18 50' ?? 1% 19 M"y 8 ]V?. J-31 2 ? F S (' I Pipe & Fdy 1000 15'-, 14' -, 14'?? 1J? H?eh low DIy. Net 1921. Bate. 1921. Oat? in $. Sale*. Hiirh. Low. Close, chfe. 50 Mar 23 38 Aug 25 ? do pf 100 44 44 44 l/a 271/4 Jan 19 8% Sept 23 ? IS Food Products 14600 13' 2 "2 12%? % 74% May 3 43% Oct 6 4 1 S Indost Alcohol . 1 1870 46% 43% 4?%? 1/s 68% May 13 41% Mar 11 ? l' S Realty & lmpvi 3000 53' - 51 52%. 1% 79% Aus 30 4C% Aug 27 ? 1' S Rubber. 16700 50' s 47<4 40' ?-? ->t 103% -I?n * 74 Aug 27 8 do 1st pf. 400 92 89% 90' 4 2' 4 35! 2 -J?n 17 26 Apr 1 ? V S Smrlt 4 Re? 7C0 34% 34 34 ?i 2 jan 3 37 Aag 9 3'/2 do pf. 500 40' - 3? 39?3 8612 May 6 70% June 23 5 IS Steel. 5O00O 80'8 78% 79'/2? % 112 Jan 27 1C5 June 21 7 do pf . 2200 111 119!4 110' 2 4 59' i Jan 19 41'., Aug 25 2 1'tah Copper . 17400 53's 5'%, 52"? 4 12?, May 17 8'.. Jul? 11 ? Ltnh Securities Corp 1000 10'4 9'4 IOV4 ? % 41 Jan 11 25', June 21 ? Vanadium Corp .... 4 700 32'4 SZ*t, 31%? ', 42'-, .Inn 11 20% July 30 ? Va-Car Chemical . 1600 30' 4 29'4 29' 4? !4 102% Jan 18 57% July 30? do pf . 1000 75% 74% 74%-? 1% 95 Jan 25 59 Aug 17 6 Va Iron Coal & Coke <-00 81 77 81 6 9% May 12 5% Mar 11 ? Vivaudou lnr . 3600 8% 8 8 ? % 9 May 9 7 Mar 11 ? Wnba-sh . 3500 7% 7', 7U- <h 24% May 10 18 Marl"? do pf A. 6600 22% 20% 22' 4 ? 1% 15'2 May 6 12% Mar 12 ? do pf B. 130 14 14 14 ? % 13 Jan 11 8% Jan 6 1 Weber A Heilhroner 200 12% 12 12 ? % 72 Jon 20 49% Jsn 4 2% Wells Fargo Kxp. . . 700 65 62 62 - Hi/2 May 10 8% Aur 26 ? West Maryland . 1300 9% 9'4 9' 4 I 21 May 6 14% ,Iune23? do 2d pf. 500 17% 17 17% 4 307, May 9 20% Aur 24 ? West Pacific . 1800 23', 22! a 22'4? % ! 70% Jan 10 58 Au? 22 6 do pf . 300 63 62 62 ? % 94 Apr 12 76 Aur 10 7 AVestern Union Tel . 3200 85 82 82%H % 90% Jan 14 31% Sept 8 7 Westingh Air Brake 100 86% 86% 86% V? 49% Mar 29 38% Aur 22 4 Westinehou'?? Mfg... 5200 45% 44% 45: 4 ? % 11% Muy 9 7% June 21 ? Wheel & Lake Fr?e. 8O0 8% B'? 8%? 4 19%. May 9 13% Jane 21 ? dn pf . 300 15% 14-% 15'v 44^ May 2 29% June 24 4 White Motor? . 2100 ^5% 33% 35% 1 j 17% Jan 9 7 July 10? White Oil . 22401 10% 8% 10:.,- 1% 10!/2 May 4 5% Jan 3? Willy? Overland ... 70?0 6 5% 5%? % 42 ,\,ay 3 23 Aur 26 ? do pf . 703 26% 26 26'% 4 ; ? 47 .Inn 7 31 July 15 5 Wilson Co . 1100 35 34 34 ? 1 89% Fob 8 79% Au? 1 ? do pf . ICO 30 80 80?1 37% May 9 25 July 21 ? Wisconsin Central... COO 26', 26 26%? -'4 117% Apr 11 105 Aur 2'i 8 Woolworth . 27r,r 116% 114: 4 1:6'.?- 2 55% May 5 30% Aur 25 4 Worth Pump & Mach :09 41 ?33 ?39 ? *-A 9% July 30 6% June 23 .25 Wright Aero . 300 8 7% 7% I *Ex dividend. Course of the flood Marke! 'I he graph ahowa the weekly fluctuations in the average price of ten railroad, leu intlustrial nntl fiie public utility hontk since September 1, 1919 undermuslirrs, aproi ?.-a'era knit goods; \ * LOI TSVILLE. KV. Selmao C . Miss B. Pai r, mllllnep?4 Pt nnsj ;?.??.. i *? MEMPHIS Dresr-I p Shop; :.- ? ,.,.,, tu -??? i ar; Martin t ; tib --h ?v Mil? \l I.: i _ - .?.'..??..' . lauer. arem MINNEAPOLIS ,'!"' " '.'; :: :"',:' '?? ? ? niuu p. M ral li.. r ....: . ^ Wfr. I Lai,tl '" r*r? MONTGOMERY, A! \ N'ach! * v; ' tutu* ma igi r. .. . Itli av.. cal K. . i- ?sell? r. ? Ml. KKOOEE, (?Kl \ Lad Us' v R .. imen's " ' ? ' ' ? woolen p - . , I. M. H NEW OKI EANS Maison 1 Co.: M. 1 ?tant? millini ry, 116 W . ;.l ?-? philadki phi \ Wieri . ' . i: mfrs, pants; tirai ? 1 Sllverman, i' c irings ' -aie Square. PITTS!? Ki.ll Kaufman 1 '??? t. Sti . ! ? f, H'v. ?y, Boggs .':? Buhl . Miss A Ei roa t s, suit n resses men's .1. IL Aaron, dry ? I ; The Pi' ter Co ; 1 C W Im: erial r an-k & Peder MIbs Mol dresses \ : fillated Retall Sti ;'? B'way. York Waist Co; Mr Weine? l'i'inii) 1". an', i PITTSFIELD. M ISS Emporiui Woi I Mill s-ern. berg, millini - ? ; m ? PORTLAND, ORI 1 m'. ? m; ni I ,>:? i 'n. , i . \ nery l :" B'way i 'I.'.' Woi ' m . m ,c K Inp . i; i ?In-?us: 432 "!i ?? M?ler & 1": .m'a ; F I. !:?: pu co Roods, blankets, bedd i 212 Oth av, PROVIDENCE J, P, Mourln x- ? " ' . .1 P " to wear: Hart-Flai Hirsch Co.; D. Stelnl dresses, bn foment mdse kimonos, waists, undei \ ? ,' v.-.*r 1, Harris, ; 0 \\ nth ? : Tayhir-Symonds Co M S |? nu sties : Pennsyli .- n :? M. Block & Co. ; M. Bio I m perlai. i!,:;-. .-.- i acrossii Co i: E H * trim i . :. I i- r I ;. 1 RALEIGH. N. < . Huds m-Belk C L G. wi ai . 116 \V. :"?! st.. i Kill HESTER Emporium World M ; E. A. Belcgneul milllnerj IB'? >AN VNTONIO. TEX. M. Lute- A Co M K 'hint and men's furnish Wi stern Skirl Mfg ? hwart*, w ool< a ;. goods ? fancy tt'ontinusd On next Jiaa?i FINANCIAL MEETINGS THE (HASP NATIONAL BANK ??I- IHK < ITA OF NEW i'ORK. New Tori:. Septenib? ? , TO Till-: STI " '. HOLDERS: N. ? l<.- is hereby given that a Spei lal Meeting of tl'.- Stockholdc '8 ?' the Bank ?.? |1] !.. held at Its Banking i -?t?? Br ladw ay, B n ough of Mai . N- ? i'ork, State of X ? '??*. > day of Novi ail" r, 1"21 nt 12 ! for the purpi -enflrin. . Ins; the U'-rrn? am! by a - lajorlty of the 1 ? ? ! The Mel I City of Ne ?- v." k ? t 'i ? late i ho sa Id ' ???? i bai ? ?? ? ier of The Chose National : ... ' ?'?'* City of Now f such othoi * r t By - ? ier of the Boa ' ? ? ri IV. !' HOL1 ( 11 \SI SECl'RITIES CORPORATION, Nev York, Septi HE si'. iCls IB i LI '1 N ? .. Meeting of tin Securities i ? oil . ?? .? : '' i !<? oadu n - Boi ou i:a-;nr, City of New Yorl York, 'm the 1st ? of N - I It tv Jo in ? '?? , ?. i.ji, i. proposals to f , ? ? . ..-.?! i ii. nu ni ..: ? " r p Il ich the said Corpora ? w t il at of its s I $9,730.000 ti HO.O ' ' ' ? rea se s n- ? effective; I sldera ' ? - ? and ond liions ! ......... shall be issu 11 f suc! ither ??? b' :oine bef ? ? of E. R. TI." HALSTEAD ?. Kill ? -ry. rHE METROPOLITAN NATIOVA1 BA*K <>I Til?. ? II V '?l M KW VORK DIVIDEND NOTH E3 KELLY-SPR'NGFfE'.Q TIRE CO, UNITED FRUIT COM! ' IU1IIII Mi M > ? ' ? ? I ? r ; ? " '. ' : I :. e , f I n, -, 1. ', ft ? ft