New-York tribune. [volume] (New York [N.Y.]) 1866-1924, November 26, 1921, Image 14

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New-York tribune. [volume], November 26, 1921, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 26 Nov. 1921. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1921-11-26/ed-1/seq-14/>

Newspaper Page Text

Rise in Bonds
Feature of Day
In the Market
N<w f??gh Level for Year is
Beached by Three Main
Groups; V. S. Issues
Strong; Storks Higher
The Thanksgiving Day holiday led
t? ?a accumulation of buying power
for investment securities, and the up?
turn In the hond market, which has
besn revolutionising ??lues since July,
yesterday gained fresh Impetus. The
Tribune averages, which measure the
trend of the market, soared to new
high lev?is for the year for railrond,
publia utility and industrial bonds.
"United State? Treasury issues were
especially sought.
Behind the movement !n the bond
market are familiar factors, which are
becoming increasingly recognized. For
almost two decades the trend of bond
prices have been downward. During
the war years and subsequently, tn
s'uences. such as inflation of currency
and destruction of capital, tended to
drive up money rates to abnormallv
high peaks, making borrowing difficult
and expensive. This was reflected in
sensationally depressed bond quota?
tions. This year the trend of money
rates has been in the opposite direc?
tion. There has been credit easement.
'The ratio of reserves to deposits and
Viderai Reserve note liabilities com?
bined of the Federal Reserve system
ns a whole this week jumped to 72.3
per cent, the highest in three years.
The passing of security interest ratea,
Actually accomplished and expected, j
lies behind the eager rush to buy ,
bonds before they complete their j
?movement to more normal and, to the !
buyer, less attractive levels.
In the stock market, too, the trend
was toward moderately higher l?vels.
Leadership reposed with the rails ant!
to a lesser extent with the steel stocks.
Interest in the railroad ?hares vv?is
'.e?ghtened by the ravorsble showing
made by the roads whose October
earnings statements have thus far
been made public. Buying of steels
was accompanied by reports of an in?
ert ased effective demand for equip?
ment by the carriers.
With the exception of Swiss francs
and Dutch guilders, the European ex?
changes turned easier yesterday. The
enthusiasm created by the sentimental
effect of Secretary Hughes's proposn's
for the limitation of armament has
not persisted during later discussions.
Cotton prices reacted 51 to 63 points,
but wheat quotations, despite extensive
profit taking operations, retained
pains of 1% cents a bushel.
? i????
Money and Credit
Tho money market on the Steel:
Exchange showed no chancre yesterday.
The renewal rate for call money was
5 per cent but funds could be obtained
'.ater in the day at 4H per cent.
Year
Yesterday ago
On industrial collateral 6 6
On mixed collateral... 6 . G
rime money ( mixed collateral) :
Sixty davs. 6 (?5% 8@8H
Ninety days.? <f5<4 8<5J8V?
Four months. 6Vi@5^ 8@8H
Four to six months.. 6\?(5;5V4 8@8V?
Bank Clearings - Bank clearings at
New York yesterday were: Exchanges,
: T''4.000,000; balance. $76,600,000.
Silver ? London, 87%d; New York,
domestic bar, 99lV?c; foreign, 66"vsc;
Mexican dollars, b()%e.
The Dollar in Foreign Exchange
Foreign exchange rates ruled easy in
general yesterday, although Swiss
francs and Dutch guilders developed
strength, the former again crossing
the 19-cent level. Guilders advanced
to within a fraction of 36 cents.
Cable rates on London fell back %
of a cent below Wednesday's closing
price to $3.99. French francs broke 7
cents to 6.90, equal to the low of the
last several months.
El ROPW
Tester- Prevlon? Tear
GREAT BRITAIN (par 84.89 *,?wt1*ni,
Demand. 3.98* 8.99* ???%
Tables. ?.?? 3-p9% ?-?V4
60 d bills (buy'g) ?96 8.98 -4
'0-ri bills (buy'g) 3.93* 8.?*% S-41'*
FRANCE! (par 19.3 c-nts s franc)
Demand!.. 6.90* 7.06* 6.08
Cables. 6.91 7.07 6.09
BELGIUM (Par 19.3 cents a fr?nc)
n^mand ... 6 5" !" ?.??
cab?e?;.:::..:: o.eo* ?.?*% 6.?
SWITZERLAND (par 19.3 cerne a franc?
r.emand .......19.08 18.85 ? 16.CS
Cable. ......... M.M ?-8? "-s3
ITALY (rar 19.8 cents s lira)
Demand. ?-OS* * U* J-?
Cable?. 4-M ???? , . ???
HOLLAND (par 40 2 cents ft /'o'??>,,, ,.
Demand .35.75 ?50 30.50
fables .35.80 36.63 80.6,5
GERMANT (par 23.8 cents a mark)
Demand.84 .36 1.45*
fahles.84 .38% 146
AUSTRIA (par 20.3 cents s crown)
Demand.08* 0j* .SZtt
Cables . 03* 03% .S3
NORWAY (par I?.* cents a crown)
Demand .14 20 14 16 18.M
Cables .14.24 14.17 13.16
BWRbBN (par 26 * cents a rrown)
Demand .28.46 23.60 19.20
Cable? .83.60 23.61 19.26
DENMARK (par 2?.S cents a crown)
Demand .18.43 1347 13-50
Cables .18.48 18.60 13.60
SPAIN (par 19.8 cent? a peseta)
Demand .13.91 13.78 1313
Cables .13.92 13.80 13.14
POkTiiOAL (par 108.05 cents an escudo)
Demand. g.50 8.75 12.75
ORRECB <ps,r 19.S cent? a drachma)
C?U????a. *?0 *'1B 8'55
Pn?? Y?L'V*?' ?? *16 4 17 t.80
?^.^1??^ .13
C"^#W^'%? i?. ~? a
J3EE;::sr vu v?* *?"
JUGO SLAVI? iim*?-?? 10T l?*
Demand! <P* IV c*nt" * crown)
cables... ;:;;;? || a? .?2
RVMANIA (pari? le-?t. .?* . ??3
Demand... " ,ceat* * lfAu>
Cable?. ."?? . -H 1.45
FINLAND (pnr'tst ?.?,. . '2 ,.* *?*?
Demand...... , ?rnt" *,!I\sarte>
, cabios...;:;;:: \\\ ? v.ll l\\
CHINA (Bhang&V;*?!*?,,,,)
Demand .17 2S 77-.il ?t nn
Cables ,,.77 T6 ? oa .1 ?
CHINA ?rfona'KonVear ?A?* ," M
Demsnd . 84.00 64 2i ?8 2S
tables .51.20 64.60 6fi'ss
JAPAN (par 49.8 c.-nts a ye,,)
i'-'-'iand . <? (V0 48 no 60 "R
?abls? .48.25 48.25 60. ?IS
INDIA i.rar 48.o."> cents a ,?.??)
Ivmand .2T.O0 r" m 2V'0
Oablrj .27.25 27.26 88.71
STRAITS SETTLEMENTS (par 66 b jluis
a <Iollf<r)
Demand .46.60 46 25 ?_
Cabios .40.75 4?.60 <_
THF. AMI Kl? AS
ARGBNTINA (par 42.44 cents s paper
peso)
Demand .82.37* 32.m 88 S75
Cables .32 GO 83.00 83.60
BRAZIL (par 32.4f. c< nt? a ?;. ? er mllrel?)
D"n-,and ...... .12 75 12.15 16 125
Cable* .12.S7* 1^.00 16.25
TKIU,* (par I486 ti pound)
Checks . 277 2.77 8.93
ECUADOR (par 48.60 ??,.nt? s niiere)
'^l.' ? ' o -
CHILE (par 36.5 cents a peso)
Che? ka . 10.60 JO !7* 14.12*
URIOUAY (psr 103 42 cents a peso)
Check? .?7.12* ?7 62* 75 60
VENEEI.'BLA (j>at 10.1 cent? a bollvsr?
ChsekS .17 09 1709
Canadian KicluiiiRe?New V,,rk funds It}
Montreal, 3,\ )?? r eeni premium; Montreal
tun ? ? n v ? V.,?k. 8* P?r osut discount.
"?'??mot ?j.
P
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealing?
(Copyright, 1911. N-w Tora Trtbuae Ine.)
Stocka
nay Tear Jsimerv 1 te date.
Yesterday, befere. are. 1M1. 1??0. W
Rallraad ??***. IM.400 17.800 146.200 29.701400 ?4.C? 800 88,338.700
Other ?tocks ....... 649,900 880,100 B61.700 121.814,300 154.312 400 199.649.?O0
AU stocka . 711,300 747,800 707,900 161,815,700 198,548,900 285,988,100
Bond?
Jsnsary 1 te date.
Testerear. Day h.fere. Tear ?te. 1921. 1?20.
V. S. rArernmeiit bond?.. $7,990000 $10,731.000 $9,110.000 $1.785.291.000 $2,183.789 000
Rsitroaii hond?. 7.9O9.O00 4,201000 2,191.000 53t.906.000 616 221.000
. Oilier hondA . 8.8ne 000 8.752 000 3.016 000 686.929.000. 638,426.000
! All bonds . 24,795,000 21,634,000 14,323,000 3,006,126,000 3,338,438,000
Kecord of Stock and Bond Average?
(Copyrieht, l??t, N?w Tork Tribune tno.)
Ywter
day.
20 Railroad stock? . 66.05
30 Iiiflu.?trial ?locks . 72.49
60 Stocks . 69.92
10 Rollrond honda . 81.25
10 Industrial bond? . SS.'??
B Utility hollo? . 80.30
25 Bonds . 33.08
Stocka
Ony
before.
65.35
71.49
09.02
Year
aro.
68 10
74.80
72.12
Bond?
flO.91 74.54
86.04 83.03
78.52 70.30
82.48 77.0?
Ranee Jan. 1
te date.
Hlfh. Low.
86.85 67.40
79.13 60.80
73.38 61.02
81.2*
Bfl.PS
80.30
83.08
71.01
80.45
70.13
7C.25
Range fall
year 1920.
ni?rh. Low.
78.80 8360
110.00 07.67
92.98 64.80
70.97
91.46
74.66
81.71
55"j
w%
S9%
83'/a
65%
55
61
74%
53
95
32',
90%
?38% 118?/.
34
83
281/4
67%
26'/?
4? %
2<'/a
55
42
831-,
23 %
76%
Pijih. Low. ni?.
1921. 1921. Rate.
1?% 11 ? Advance Rwnely ...
52 35 3 do pf .
40 SO 4 Air Re^nrtlon.
39% 16'4 ? A??* Ruhber .
1 ! a % ? Alaska ?nid Mine? . .
13,? *2 ?? Alaska .luneao .
105% 100 7 A?l-Amer Cable? . . .
4 Allied Chemical _
7 do pf .
4 AHU-Cnalmera .
7 de pf .
? Amer Aar Chera ...
4 Amer Rank Neto ...
? Amer Beet Sugar ,..
? de pf .
4 Amer Br Shoe A Fdy
7 do pf .
? American Can .....
7 do pf .
12 Amer Car ft Fdy...
ItB'/a 108 7 do pf.
29 6'/2 ? Amer Chicle .
243/4 16% ?. Aner Cotton OH ...
8% 4% ? Amer Dru* Synd . ,
13% 8 ?? Amer Hide & Lentfc,
59'/4 40'% ? do pf .
76 42 7 American Ice .
72'/4 57 6 do pf .
63% 211/4 ? Amer Inter Corp ...
11% 7% 1 Amer La France ...
62% 17 ? Amer Linseed .
93 39% 7 do pf .
96 73'a 6 Amor Locomotive' . .
90% 66% 4 Arr-.er Radiator .
10 3/2 ? Amer Safety Razor..
14 4'/4 ? Amer Shiji 8z Com..
44% 29% ? Amcr Smelting .
85% ?3% 7 do pf .
32 18 S Amer Steel Fdy ....
96 . 47% ~- Amer Sugar .
07'/4 671 a 7 do pf .
88 29% ? Amer Snmatra Tob. .
91 643,4 7 do pf .
55 48 5 Amer Tele* & Cable
191 j 95% ? Amer Tel & Tel _
189% 111% 12 Amer Tobacco .
?27% 110 12 do B .
do pf new .
Amcr Wholesale pf, .
Amer Woolen .
do pf .
Amer Writ Paper pf
American Zinc .....
Anaconda .
Amer Water Works..
Assets Realization Co
As-or Dry Goods . . .
do 1st pf .
do 2d pf .
Atch. Top & San Fe.
do pf .
Atlantic Co?*t Line..
Atlantic Fruit .
? Atl. Gulf & W I_
? do pf .
2"/a Atlantic Petrol _
95'/,
96', 4
to!/*
103
39'/a
45%
19%
3%
43
76/4
74%
88
86
89%
9
76
44%
23%
20
97%
104%
42%
54
1"
65
10
76%
6
45%
90
116
90
68
90
6
17%
28
19%
74
49%
7%
53%
90%
57
93
20%
63/4
31%
m
1
24
55%
45
78%
75%
77
1%
18
15%
10
14
62% 7
95 7
30% ?
47 4
41%
3%
61
3
33
70
81%
90
5C
80%
10% ?
14% ?
7% ?
53% 6
25 ?
3% ?
41% 2
119% 101
15% 14%
43%
96
34%
8%
86
65%
6%
6%
12
9%
20%
31
46%
71
70%
35
84
72
83%
52
12%
27%
62%
40%
46( a
12%
62%
64%
42%
12
94%
2!%
90
44%
107%
91
33%
28
C/%
59%
110
249
21%
77%
105
15%
22%
82%
90
34%
79%
13%
20%
0%
783/?
117%
62%
95%
22% ?
57% _
23 ?
6% ?
38% d
46 4
% ?
% ~
6 ?
6% -
14 ?
22 --
32 ?
60% 5
47 4
22% ?
6834 7
56% 6
70 7
32 ?
9 ?
19% ?
36% ?
19 4
27% ?
2% ?
9% ?
52 6
28% 4
% ?
77% 7
12% ?
69 4
22%
49
77 7
10% ?
5% ?
13% ?
23
90
93
10%
52
87
11% ?
16% ?
44% 8
74% 8
21 4
57 a
a% ?
9% -
% ?
39%
77
54
80%
138-% 109%
16% 9%
72
70%
82'/,
44%
34Vs,
79%
34%
16%
"%
49%
13%
80%
61
88
16%
20%
98
7%
57
38
5%
15
100%
110
29
17%
63%
42
733-4
17
28
4%
46%
34%
?8%
53
9
54%
SO
94
62
60
69
20% ?
15 ?
60 7
25% 4
6% ?
6?/a ?
26 ?
%~
60% 4
49% 3
40% _
10% 1
7 ?
85% 7
2
33% ?
29% ?
1%
5 ?
67% 5
99% 7
21
7'/t
36 6
25% -
38% ?
11% ?
5% -
2 ?
8'% ?
14% ?
18% ?
45% 4
4%
32% 4
70 6
7? 7
Atlns Tack
Baldwin Loco Co ..
do pf .
Baltimore & Ohio ..
do pf .
Bftiopila.? Mining
Beih Steel Class B. .
llklyn Rap Tr eta_
Brooklyn Union Gas.
Booth Fisheries .
Brown Shoe .
da pf .
Burns Bros .........
Bush Term pf.
B R & Pitta.
Buff, R ? Pitt? pf...
Bu'tc Copper & Zinc.
Bu e & Sup Copper.
Butterirk Co .
Cnd<lo Oil .
California Packing...
California Petroleum.
Call Lead & Zinc_
Calumet & Arizona..
Canadian Pacific. . . .
Cardin Hill Gold.
Central Leather.
do pf.
Cerro de Pasco.
Chic Si Alton.
Chandler Motors -, ,,.
Cheaapi-alie & Ohio..
Chic & East 111.
do pf .
do pd .
Chic Gl Western.
do pf .
Chic, Mil & St Paul.
do pf .
Chic & Northw'n.,..
Chic Pneum Tool....
Chic. R I & Pac.
do 7% pf.
do. 8% pf.
Chic, 81 P. M ft O...
C, C, C & St Lauto..
Chile Copper .
Chino Con.sol Capper.
Cluett-Peabody ......
Coca-Cola .
Col & Southern.
Colum Graphophone..
do pf .
Co) Gas St Electric...
Comp Tab Record....
Consol Dist.
Consolidated Gas ....
Consol Textile .
Corn Product? ......
2% Cosden & Co .
4 Crucible Steel .
7 do pf .
? Cnban-Amer Sugar .
- Cuba Cane Sugar ..
do pf.
Davidson Chemical .
Delaware & Hudson.
Del. Lack & West...
Dome Mines .
Endicotl-Johnsan ...
do pf .
Erie.
do 1st pf .
Famous Player? ....
do pf .
Fed Min & Smelt pi.
Fisher Body Ohio pf.
Fisk Rubber Tire ..
Freeport Texas .
Gaston Williams ...
General Asphalt ...
do pf .
General Cigar .
do pf deb .
General Floe C* ...
General Motora.
do pf .?.
do 6% deb .
do 7% pf .
Goodrich, B F.
Granby Mining ....
Great Northern pf ..
Gt North Ore subs..
Guant Sugar .
Gulf Mob & North..
Gulf States Steel ...
Hablrshaw Electric .
na?k A. Bark Car Co
Homestake .
Houston OH.
Bupp Motors .
Hydraulic Steel ....
lllinol? Central ..,'.
60 1 ndiahoma . '
Int Agriculture pf
Inspiration Copper..'.
bit-Cons Corp ,,.',[
do pf.!!!!!
5 Int Harvester
7 do pf .t '*"
?% Int'l Cernant .7.*,*.'.Y.
- Int Mercan Marine!!
do pf .
Int Motor Track!!!.
Int'l Paper .,
iru'l Nickel ....'.!.'.'
Invincible, Ou ... *
Island OH ... ,7*.
Jewell Tea pf.??!!
Julies Tea .
lian City Southern!'.',
do pf .
Kan City * Gulf.'.!*.
Kelly Spring-ueid ..."
do pf .'
Kalsay Wheel ?#.?'^
Sales. Onen
200 11%
2n0 38%
200 39%
600 16' 'a
6<\> %
1200 %
100 10034
18900 50%
500 07%
900 36%
200 83%
200 32%
300 66
400 29
200 68
200 51%
200 93%
1200 30%
600 88%
500 137%
200 116%
200 8%
400 22
200 5%
300 11%
900 56
3700 73%
400 72%
2600 37%
700 8%
1500 82
1200 60
1400 94%
100 89%
700 4%
200 6%
700 41%
600 83%
1700 3V%
66X1 55
400 85
3900 32%
200 68
20 65
8600 115%
200 124%
500 121
600 94%
200 94%
1700 78%
200 102%
200 26
200 11%
52"0 443/4
100 16%
200 1%
800 42%
700 73
900 71%
1200 87''a
200 84%
200 87
1200 3%
2700 31
1600 22
700 22 V4
200 14%
8-J0O 95
300 104%
2900 36%
700 52%
500 %
3700 55/4
5^0 7%
20C 75
. 300
1200 43
3C0 90
1400 115
1C0 90
308 50
175
500
Ne?
High. Low. Close, ehge. Bid. Ask.
11% 11% 11%? % 11 11%
38% 38% 38%? % 36% 88
39% 39% 39%+ % 39% 40
16% 16% 16% + % 16% 16?4
% %? %
%
.1;.
% + %
Mi
V*
7?
100% 100% 100%? 1% 100% 103
64 49% 64 + 4% 63% 64
99% 97% 99%+ 2% 99% 100
36% 88 86 + % 35% 36%
83% 83% 83%- 83% 84
32% 32% 32%? % 32% 33%
55 65 65
29 28% 28%
58 68 58 -
52 51% 52
65 65%
% 28% 29
C 56 62
52 53
93% 03% 93%? % 94 95
31% 30% 31%+ % 31 31%
88^4 883b 88%+ % 88% 90
138% 137% 138%+ 1% 138 130%
115% 115% 115%+ % 114 116%
8% 8/4 8%+ % 7% 8%
22 22 22 + % 22 23
5% 6% 5% + % b% 5%
11% 11% 11%+ % 11% 11%
66% 56 66%+ 1 66 60%
76 73% 75%+ 1% 75% 76
72% 72% 72%+ % 72% 73
37% 37% 37% 4- % 37% 38
9% 8% 9% 4- % 9 O'/*
34% 32 ,337?+ 1% 33% 33%
61% 60 61%+ 1% 60% 61%
95 94% 95 + 134
89% 89% 89%
4% 4%
94;
89
4s
6!/i
41 Vs
6J
41'
41'A
96
90
4%
6%
41%
83! .1
41
83
31%
66%+ % 65% 56
84%+ % 8^3/4 85'/
31% 33/4+ 2% 32%
68 68 - 67% 68
66 65 - 52% 56
115% 116%+ 1 116% 116%
02%
4'??
80%
5'^
300 17
100 263,4
700 13%
600 73
16G0 43%
700 6%
100 53%
8100 116%
2100 10
1600 31%
200 65%
20O 33%
1C0 6%
1400 45%
1200 583,4
300 6%
300 6%
900 11%
200 7%
400 13%
1900 22%
36X> 37%
500 68%
200 51%
3900 32%
500 83
700 71%
250 80%
200 49%
2600 123/4
2400 26%
100 4/34
600 37%
8900 42%
26.X? 33,4
400 17
2400 64%
200 41%
200 1
2900 94%
3700 15%
1900 8734
3-100 33
9600 64%
100 85
700 14%
600 S
1S?0 18
24900 67%
800?107%
3400 110%
600 19
?800 75%
200 104%
1600 11%
..900 17%
8700 83%
1800 85%
2100 *34
400 77
200 9%
200 15%
600 %
6700 63%
200 9934
200 81%
200 94
500 134%
61O0 11%
200 70
500 69%
200 82
1200 30%
2800 27
3900 73%
1600 34
300 6%
200 6 %
5700 46%
400 1
8 0 79%
200 55
200 77%
300 10?'a
200 7%
1200 97%
6)0 4
600 40
900 37%
400 2
200 6%
2700 76
300 101%
800 28%
200 12%
1700 66%
900 27
2600 66%
3s 00 11%
91X1 11%
4600 3%
200 45%
6.0 33
1200 24%
200 63
600 S
700 40%
200 76
100 91
83% 83% 83%+
313/4 31% 31%
56| 4 65
85 84
331/
68
65
117
125 124% 125 - 125% 125%
122 121 122 + 1% 121% 122
04% 94% 94%+ % 94% 9434
95 94% 95 + 3% 92 98
79 78% 79 + % 78% 79
103 102% 103 + % 102 103%
26% 26 26%+ 1 26% 27%
11% 11 11%+ % 11% 11%
45% 44% 45%+ % 45% 45%
16'% 16% 16%- 16 18%
1% 1% 1%? % 1% 134
43 42% 43 + % 43 43%
74 72 74 - 73 76
72% 71% 72%+ 1% 73 76
88 $7% 88+1 87 88
86 84% 86 + 1% 86 87%
87 87 87 + % 85% 88
3% 3% 3%- 3% 3%
32 " 31 31%+ % 31% 32
23% 22% 23%+ % 22% 23%
22% 21% 22%+ % 22 22%
14% 14% 14%- 14 14%
97% 95 96%+ 1% 96% 96%
104IA 104 104 - 103 105
37% 36% 37%+ % 37% 37%
63 62% 62%+ % 62% 54
% % Va-? Va %
56% 54% 86+1 65% 56
7% 7% 7%? % 7% 73/4
75 75 75 - 74 75
4% 4% 4%? % 4% 5
45% 43 45%+ 3% 45 47
90 90 90+4 90 91
1157-8 114% 115%+ % 116% 115%
90 90 90 - ? ?
50 60 50?7 62 65
80% 80% 80%? 8% 80% 90 ?
6% 63/8 534+ '/a 5% 5%
17 17 17- 17% 17%
26% 2634 26%+ % 26% 27%
13% 13% 1334+ % 13% 13%
73% 73 73 - 7234 73
443., 43'/a 44 + '% 44 44%
6% 6% 634+ Va 6^4 6%
63% 63% 53%?? 54 60
119 116 118%+ 3 118% 119
15% I434 151/4+ % 15% 15%
32% 31% 31%+ % 31% 32
65% 65% 65%+ '/a 65 6534
33% 33% 33%+ 1/4 33%, 34
5% 5% 5%? 1/4 5% 8
46 45% 48 + % 46 46%
59% 6834 69%+ % 59% 59%
6 Va 6'/4 6'%+ 1% 634 ?
6% 6 6%+ 1% 6% ?
12 11 "/a 12 +1 121/4 ?
7 Va 7 Va 7%- 7 71%
18% 18% 1834+ % 18% 18%
23% 22% 23%+ % 23% 23%
37% 363/4 37%+ 1% 37'/a 37%
687-a 68 Va 68%+ % 68% 69
52 51 62?1 52 53
33% 32?4 33%+ 34 33% 33%
84 83 84 + 1% 83% 84%
72 71% 72 + 1 72% 72%
80% 80 80 ? % 80 84
4934 49% 49%- 49% 50%
12% 12% 12%? % 12% 12%
27 26% 27 + % 26% 27%
473/4 47% 47%+ 1 45% 48
38 37% 37%+ % 37% 38
46 Va 42% 46%+ 1% 46'% 46%
4 3% 3%+ '/a 3% 4
17% 17 1734? % 17% 17%
64Va 63% 64%+ % 63% 64
41 Vs 41% 41%+ % 41 42
1 1 1 + % % 1
94% 94% ?4%+ % 94% 94%
15% 14% 16 + '% 14% '43/4
88% 873/4 88 + % 88% 88%
34% 3234 34'%+ 1 34 34%
65/4 63% 64%+ % 64% 65%
65 85 85?4 83 87
14% 14% 14'%? % 141% ?5
8 8% 8 + % 7/8 8%
18% 17% 17%? % 17% 17?/?
69% 54% 64%? 234 64% 55%
109 IO734 109 + 1% 108 109
112% 110% 112'/,+ 2 111% 112%
19/4 19 19 - 18% 19%
77% 75/4 77 + S 77 77%
104% 104% 104%? 104% 104%
11% 11 Va 113/4+ % 11% 12
18 17% 17%+ Va 17% 18
70% 68 70 + 2% 69% 70
87'% 85 87%+ 2% 86% 87
36 34 34%+ 2% 34 35
77 77 77 ? Va 76 77
9% 9% 9%? % ?7a 10/4
15% 15 15 ? % 16 15%
% % %+ Va % %
8434 631/4 64%+ 1% 64% 64%
9934 98% 99%+ % 100 100%
61 % 61 61 ?? Va 60% 61%
94 94 94 - 93 95
135 134'% 135 + % 134 136
11% 11 11V4+ Va 11V? 11'/*
70 70 70 + ?% 70 71
69% 69?% 69'%- 69 70
82% 82 82'%+ Va 81% ?2 Va
30% 30% 30%? % 30% 31'%
34% 27 31'%+ 4% 31 Va 35
7434 73'% 7434+ 2 7434 75
34% 34 34%+ % 34% 34%
?% ?% 6%? % 6'% 63/4
5% 6% 5/a? % 5% 6
49% 45% 49%+ 4% 48% 49%
1 Va Va? "
79% 79 79 ?
55 6? 55 ?
78% 77% 78 +
10% 10% 10%?
7% 7% 7% +
97% 96 97 +
4 3% 4 +
40 39% 40 ? 1
37% 37% 37%+ % 37% 37%
2 2 2 - 2 2%
6% 5% 5?4+ % 6'% 534
78 76 78+2 77 78
101?% 101'% 101'%+ % 101% 102%
29 28 28%? % 28% 28%
12% 12% 12%+ Va 12% 12%
66/4 65'% 68 ? '% 65% 58
27 27 27 - 26 27'%
56% 55 56?%+ l% 56/4 50%
12/4 11 Va 12/4+ % 12 12%
12 11% 11%+ % 11% 11%
3'% 3 3'%- 3 3%
45% 43 45 ? V? 48 46
33 V, 33 33 ? %
76 80
64'% ?
% 78 78%
'/a 10% 11
Va 6 10
% 96% 97%
'/a 3% 4
40 41%
33 %
25 24% 24%+ 1/4 24% 247/,
63 63 63 ?- 63 63 Va
8% 7% 8%+ % 8 8V4
40% 40% 401/4- 40% 40%
7? 76 76 + a 74% 80
?1 ii tu ?a tv ??
Lew. Dir,
1921. Hat?.
16 ?
8'/4 ?
4'/a~
130 5
32 ??
17%
47K?
64
10
7%
136
3
12
27
46</a
21
35'/*
18
11 i/a ?
12'/s ?
8 ?
65>/2 8
84i/a 12
15% 2
10
22 ?
6'/4 ?
53 6
s/4 ?
2U ?
16 ~
33?/a ?
43 3
14% ? ?
18 ?
12/4 --
105 7
% -~
26
67%
3/?
9
46
471/j
6Ai/8
20%
127a
16
88%
62
.121'4
3iy8 s
61 '/4 7
201/, ?
7'/4 ?
1% ?
14</3 2
87 8
8 -~
24%
271/2
Kenneesit Copper ...
Keynfnnc Tire .
Keokiik & Des Moines
Krrnife. 8 8.
? Lnckawnntin Steel. , .
Lake Erle & W pf...
2 Lee Rubber & Tira . .
Sb? Lehlg-h Volley .
7 Lima I 01 omet ire..., .
? I/oew's, Ine.
1 Loft Candy ........
2 ? orillar.i, P .
? Mar 8t Itway.......
? do pf .
? do pr pf..........
7 Mslllson pf .........
? ''.I un ai i Sugar .
? Mar Rock.
7 Manhat Elevated....
1% Manhattan Shirt.
MalnLson Alkali W...
Mnrlsnd Oil .
Maxwell Motor.'* B. . .
8 Mny Dept Stores....
2 Mexican Petrnl .
?. Miami Consul Copper
1.20 Middle Btatrs OU...
Midvslc Steel .
Minn St St Loots_
5 M Si P & S S M I 1
Mo Kuns & Texas...
do pf.
Missouri Pacifie ....
? 1I1 pf .
3 Montana Power
Montgomery Ward.
MulliiiH Body .
? National Amie . .
7 Not'onsl Biscuit pf. .
National Con & Cable
Nat i-"na 111 & Stnmp.
Nntional Lead .
Nat ItR of Mex 2d pf
Nevada Con Copper..
New Or Tex S? Mes.
N Y Air Brake.
N Y Central.
N Y Bock.
N Y N t? & Bart. .
N Y Ont ? Western.
Norfolk & Western..
do pf .
North American ....
do pf .
Northern P.-ici?ic ....
Nova Scotia Steel. . .
Oblo Redy Blower...
Oklahoma Prod & Ref
Orpheum Circuit ....
Otis Elevator .
Otis Steel .
Owen? Bot Machine..
Pacifie Cas & Eiec...
Pnclfie Oil .
2/s
2
7
4
3
2
6
1'/2
58
79%
41%
17
13'/4
59%
23%
57 Va
63
35'/a
331:?
421/4
88
14
78
64%
91
32
16'/2
96
27
51V2
37
91%
107
13
8914
57%
38%
73'/4
96/4
24/,
39'/a
697*
13 ?/a
25%
38/2
30/a
41
6%
7/4
12/a
98%
25/4
49
28%
65
101
24V?
60
923/4
179
381/4 ? Pacific Tel & Tel.., 200
38'/, 6 Pan-Amer Petrol ... 4600
32/4 2 Pennsylvania R R... 4100
6% ? Penn Seaboard Steel. 500
6 ? Panhandle. 200
33% __ People'.; Gas & Coko 1700
15%-? P?re Marquette _ 2600
34 ? do pf . 200
50 5 do prior pf . 200
28l/a 3 Philadelphia Co .... 800
16 ? Phillips Petrol . 2400
9% ? Tierce Arrow . 2400
21 ? do pf . 1r00
6/4? Pierce Oil . 14S00
30/2 8 do pf. 1200
62 6 Pittsburgh Coal .... 100
82% 0 do pf . 200
23 ? PUts & We.it V? ... 600
12/a 1/a Pond Creek Coal ... 3C-0
48 ? Pressed Steel Car .. 200
20% ?- Prod & Ref . 300
87% 8 Pnllmsn Co . 1200 1
24% ? Punta Alegro Sugar 1700
21 /a 2 Pare Oil . 600
67 8 Ry Steel Spring ... 200
98 7 do pf . 100 '
Ray Consol Cop ... 1400
4 Reading . 8900
2 do 2d pf . 200
Remington Type .... 200
Rep Iron & Stesl .. 4600
7 do pf. 200
Rep Motor Truck ... 200
- Replogle Steel . 200
n^0 Royal DuUh . 2700
1 St Joseph Lead .... 200
St Louis & San Fran 1500
do pf . 200
- St Lools Southw'n.. 1700
do pf . 900
- Saxon Motor? . 600
- Scab Air Lin? . 1200
- do pf . 100
Sears Roebuck . 2700
Seneca Copper . 3100
,74 Shell Trans & Trad. 200
Sinclair Oil. 14100
Sloss-Shrf St Ei Ir.. 1200
Southern Pacific _ 10400
Southern Railroad .. 1600
do pf . 1700
8tand OH of Calif .. 3500
Stand Oil of N J
Va
V?
11
60%
38/s
17/,
41/a
75/4
6/2
18
40/a
10'/2
19/a -
27% _
19/2 ?
28 ??
2/, ?
2/s ?
5 ?
59/4 ?
12% -
30V, :
16/, ?
32/, -?
67/. 6
17% ?
42 5
67% 4
124/a 5
!4
1%
VA
113/2 105/a
82
40
93/4
103
10%
131/4
48
10%
47
27'/a
36%
20%
35
72
17
27%
13
55/a
75 67
160/a 121/a
104 92
107 87/z
25 Va 15/,
66
25/4
?3%
83
3
3%
26
6%
29
16/s
15%
12/2
33%
45
8
15
e
36
3%? /,
6'/ar- ?/a
65 + %
24/a-f %
36 ? i/o
23 + >/a
40 + %
80%+ 1%
2C/4 + l/4
49%+ %
90%+ 3%
1:00*16934 175% 169% 175%+ 7/a 175/a
do pf . 1G00*111% 111% HI/4 111%
Steel & Tube pf- 200
Htromberg Curb .... 200 30%
Studebaker . 4900 76/4
do pf . 300 103
Submarine Boat ....? 1200 3V?
Superior Oil ....- 700 8V?
Snperior Steel ..... 200 SO
Tenn Cop & Cnera... 1900 9/
Texas Company _ 8500 453/j
Texas & Pacific. 12800 25
128%
70
34
106
47
207
12/4
26
19
51
27%
74/a
58%
62%
79%
103%
35/a
44/a
86/a
111
62/4
19
46
36%
65%
6
17
11 Va
38
8'/2
38%
41/a
46%
40/2
74
26
37
70/4
Tex-Pac Coal & Oil..
Third Ave Rwsy....
Teta= Gulf of Snl...
Tobacco Products ....
Toi St L & West ctfs
do pf ctfs.
Transcontinental OU.
Twin City Rap Tran
Union Bag A Paper.
Underwood Typewr..
2.400 29
200 16/,
6700 33%
500 59
100 16 Va
600 27
2900 9%
200 33
100 72/2
200 125
78 ?
<?0%
75%+ %
103 + 2
3%? /,
8/a? Va
32+2
9%+ Va
46/,+ 1
25'/?+ %
30/4+ 1/,
16/,+ /,
35 +
60 +
16%?
27%+
IO/4 +
35 ?
111% 111%
1Vs
72/2+
125 ?
%
Union Tank . 200 103Va 103/2 103/4 103/4? /a 103/4 103%
Wz
8
113/4 105
59/2
12%
41
42/a
102%
8/4
9
24/a
IBVa
13/a
72
H/2
21
30%
7O/2
94
49%
47
11 Va
19/a
17%
13/a
10'/2
42
55! 4
67/a
41/, 2
8% ?
25/a ?
2034 ?
67% ?
5% ?
7 ?
18 ?
12% ?
8 Va
49/a
8/a ?
14Va ?
17% ?
56'/a 6
?6 7
?8V, 4
27/a 3
7/2 ?
13/a ?
7 ?
8/a ?
5/4 ?
23 ?
30/a ?
54 ?
do pf . 100 96'/
Union OH . 1300 207/
Union Pacific . ZS^O 125
do pf . 300 ?9
United Alloy Steel... 200 25a,
United Dru? . 800 71
do 1st pf. 200 44'/
United Fruit . 600 120
United Ry invest_ 400 9
? do pf . 700 22'/
? U S C I Pipe & Fdy. 1200 17
8 do pf . 1200 50
? US Food PVodocts... 2100 11?
? US Indus Alcohol,. 4300 393
? US Realty & Imp... 7600 56?
6 United Retail Stores. 8100 53
? United States Rubber. 2700 48^
8 do 1st pf. 500 94=
? US Smelt & Rti... ZOO 33!
3/a do pf . 400 42!
6 United 8tates Steel.. 4700 82=
7 do pf . 60O 112!
2 Utah Copper . 2700 57=
? Utah Secur Corp_ 700 9!
Vanadium Con? . 3400 31!
Va-Caro Chemical.... 1700 32!
do pf . 200 76
Vivaudou . 630 7|
Wabash . 1GO0 7'
do pf A. 107C? 211
do pf ?. 200 14
1 Weber-He?broner ... 200 13
2? ?f Wells largo Exp_ 200 65
- Western Maryland... 700 9
do 2d pf. ?00 17
Western Pacific .... 500 20
do pf . 200 59
Western Union Tel.. 200 83
Weslinghouse Mfg... 6*0 47
Wilson Co . 800 ?9
Wheel & Lake Eric. 500 7
do pf . 2:0 15
White Oil. 2400 13
Wickwire-Spencer ... 600 10
Willys Overland . 1900 5
do pf . 200 27
Worth Pump & M... 400 42
do pf B. 200 67
96/a 96/8
21 203/4
128% 125
96/8+ '/, 96 93
21 + 1/4 20% 21
128/4+ 3% 123 128'/
70 +1% 69/2 70
25% 4- % 25 26
72 + 1 72 74
44/4? 1/4 43 45
121 + 134 120% 122
Vm
%
7%
?E* divMsaA,
In Wall Street
Kallroad Financing
In the opinion of railroad bank?
ers, comparatively little new railroad
financing in in sight apart from that !
which ha? to do with the refunding of :
maturing obligation?. Within three
months the Southern Railway, Erie and
Oregon Short Line all i?, ve ?mall
maturities which aro expected to bo
taken care of through thfi flotation of
now issues. Conditions have undergone
such a chanco in the Investment mar?
ket und in the rail roar] world recently,
bankers pointed out, that; nomo of the
roude of second-class Credit could prob?
ably arrange financing on a favorable i
basis, if necessary. Little such busi?
ness, hoover, appears to be in pros?
pect.
May Renew Offer to China
Indications arn that the American
banking group of the international con?
sortium on China may in the near
future renew its offer to the Poking
government for a lean of approximate?
ly $10,000,000 to take care of Chlneao
obligations In this market. Such a loan
was proposed in October, but was not
accepted by the Peking government,
and its failure resulted In the default
on tho $5,500,000 loan to China made
by the Continental and Commercial
Trust and Savings Bank, of Chicago,
which fell due on November 1. For tho
f'ccond timo within a week members of
tho bnnlung houses represented in the
American group of the consortium mi;t
at the Morgan offices yeaterday in con?
ference with Thomas W. Lnmont. After
the meeting the bankers said they had
nothing to say as to what transpired
other than that "the general situation-'
with regard to China had been gone
over. China has another maturity of
$5,500,000 falling due on December 1.
This is the loan made by the Pacific
Development Corporation. According
to present indications, t.hia rnnt'iritv
will not be met on the .?ue date.
Mexican Petroleum
i Recent efforts to depress the pri
of Mexican Petroleum have beer, dis?
couraging to the bears and yesterday
a covering movement was started, and
helped along by reports that directors
of the company will meet in the near
future and declaro the regular quar
I terly dividends on the common stock.
! According to Street gossip a prominent
operator has put out a new line of
short stock and in so doing secured
I a substantial following. The stock at
? no time yesterday showed any weak
! ness and every time tho shorts started
to cover they bid the price up quickly.
The Newcomers
Carson Hill Golc'. Mining and Texas
Gulf Sulphur were two newcomers to
tho Stock Exchange yesterday, their
shares havirg been listed late Wednes?
day. Texas Gulf Sulphur was the
more active of the two Issues, the
stock under the stimulus of a sub?
stantial buying movement advancing
to 35 compared with 33H the last sale
on the Curb Exchange. Carson Hill
also was higher, the laBt sale bein?
at 15H, against 14*54, the closing price
on the Boston Stock Exchange Wed?
nesday.
Advance In Rails a Feature
The convincing manner in which the
railroad stocks advanced yesterday was
Attributed to the favorable October
reports thus far published. These indi?
cate that the majority of roads will
show the largest net revenues since
their return to private ownership.
In this connection, however, the Street
seemed to lose sight of tho fact that
in 1921 the carriers at their best can
earn little more than their fixed
charges but this does not apply to
particular properties, particularly
those that were most active in yester?
day's market. These included Union
Pacific, Southern Pacific, Colorado &
Southern, Atch?3on and Illinois Cen?
tral. Colorado & Southern led th*
lower priced rails with an advance
of 3% points to 46%. The Burlington
owns a controlling Interest in this
company and the Street is talking a
lot about a Colorado & Southern cash
dividend when directors meet early In
December. This would fli in with the
reports concerning a Burlington extra
dividend. The Trinity & Brazos Rail?
road, a subsidiary of the Colorado &
Southern, runs through the heart of
the new Mexia oil pool, and is looked
upon as a lucrative source of revenue.
Copper Improvement Confinara
In the copper market the demand
continues to be for forward copper,
very little metal for prompt shipment
being sold. Some large sized tonnages
have been Bold as far ahead as next
June, anf! at prices that were being
quoted for first quarter delivery, 13%c
to 13%c. a pound delivered. Accord?
ing to "The Engineering and Mining
Journal" one producer has expressed
himself aa being willing to consider
j sales for the entire year 1922. "Sev?
eral consumers," this publication states,
"havo availed themselves cf this op?
portunity to procura copper at the
present attractive prices. No doubt
the gradual advance in copper prices
which began a few weeks ago has in?
duced many manufacturers to come
into the market now to fill require?
ments, rather than to risk a possibility
of Taeing unable to obtain satisfactory
tonnages a? some future date. The
lnrcrof producers have kept consist
j ently above the market, but have seem
tngly had no ditficuity in transacting
business. Sales of copper have been
so large for the first three weeks of
this month that already it begins to
appear that the 140,000,000 pounds sold
in October will be handily eclipsed in
November." The improvement in the
copper market has led to talk of a
resumption of mining operations, hut
it. Ss still believed too early to take
such a step.
Wage Standardization Opposed
If the railroad shopmen should be
successful in their attempt to bring
about a 17 per cent increase in wages,
in the opinion of railway executives,
tho Labor Board will be placed in the
position of not only fixing the rates
of pay for these crafts, but in all other
industries where the samo kind of
work is required. "In other words,"
declared one prominent executive yes?
terday, "if a blacksmith is paid 90
cents an hour by order of the Labor
Hoard when he works for a railroad,
when there is a demand for black?
smiths the going rate is going to be
pegged at that price. The dangers of
this situation and the existing stand?
ardization of wages of railroad em?
ployees for the whole country are ap?
parent, and the present demand of the
shop crafts undoubtedly will give im?
petus to the movement already under
way to restrict the Labor Board's
jurisdiction over wages to the men
! essentially in railroad service?that is,
the engineers, firemen, conductora,
trainmen, etc. There is no more rea?
son why the wages and working condi?
tions of shop craft and similar em?
ployees shoufd he standardized or sub?
ject to regulation by the Labor Bn->rd,
or any other government body, than
the wages and wording conditions :f
i mechanics in factories, or clerks fa
stores, or laborers on farms, for the
reason that they are not specialized
railroad workers."
New Pierce Oil Contract
Announcement was made yesterday
that the Pierce Oil Corporation haa
closed a contract with the Interna?
tional Petroleum Company of Maine
for 8,500 barrels of crude oil daily,
and another with the Continental Mexi?
can Oil Company for 5,000 barrels,
I These contracts are understood to be
| part of the company's policy for se?
curing greater production for its re
ftaerie*.
Investment
Information
Questions of general interest to in
visitors will be answered in this col
umn, in which ease only initials will
be used. Other a will be answered by
mail. Address all inquiries, inclos
iii'l a ?Utmpril, nddrenHvd envrlope, to
Financial Editor. Th? Tribuns, lit,
.v is?u.: Street, New York Ctty.
i ?? ???.._
.Some Pant Mistakes
Question?fC'.'er nine* i'rc insu? ? hav'
had ?J.O'JO of the ft rat '?>/i Liberty bondn
.-jIho the aamo amount of each of th<
other Liborty Issue*. I do not enjoy ai
Income that mal?es th? tax f-niur'-a of tin
! % per cent bond of any consequence, an
H tiaa occurred to me that Just now woul
be ?in opportune time to exchange 'he Z1-.
tor something giving a largor r?rurn.
had In mind either the first or fourth 4 <,4
l.lborty, all three being ?bout the mm
price. A? an alternativ?, I would like yov
suggeatlon of two or three highly secure?
other bande whloh rnl?ht return. t?y, 6'
to 6 per cent?not foreign government?
T have been very unfortunate, or ?tupid, r
11! advised In several effort? to Invent mj
modest savings; for example, an origine
$1.000 or more In Chicas/o, Milwaukee ?
fit.. Paul preferred, Rumeiy praferrod, Cubi
Can? Sugar preferred and tntarborougl
Ilapld Transit 6 per cent bond, all Ter:
highly recommended at the time of put
cheae; ?o. you see, I have not much con
fldenoe In my own picking ability or th?
of paat adviser?. All of then? except th'
<"ub? Cano Sugar preferred wera taken or
what I thought at the time wa? ?-xprr
civic?. I am not, an yet, dependent ox
Income from Investment?, but may not. bi
far from a time when thin will bo Im?
portant.?L, Q. ES. A.
Answer"?For a man not subject tc
income taxes, an exchange of first Lib?
erty 8Hs for the fourth 4'4s is a goor
exchanga, wo think. We also suggest
Federal Farm Loan bonds, which can
be bought to yield around 6 per cent
to 5V4 per cent. Tho F?deral Farm
Loan bonds, bearing 5 per cent, due
1939, were recently quoted at 08% bid
99Vx asked, and tho first Joint Stoch
Land Bank 6a of Chicago, du
were selling around 94. Louisville 4
Nashville secured 7 per cen? not? .
1930, recently Belling at 108U,
5.77 per cent if held to maturity, and
Norfolk & Western divisional fit -
and general 4s, due 1944, recently sell
ing at 78Vs, yielding 5.69 per cent ii
hold to maturity, both meet your rigi
requirements, we think. We would ad?
vise selling the St. Paul preferred and
Rumeiy preferred, notwithstanding the
loss which you would face, and invest?
ing in high grade bonds. On the othei
hand, we would advise holding the In
terborough Rapid Transit 5 per cent
bond. We think that thero is a good
chance that there will bo no loss o?
principal or interest, In ths long run
on this bond.
M., K. & T. Issues
Question?Thought I would write you In
rogurs to making aun> changes In rny In?
vestments I have two $800 : ibert? bonds,
one of the third and one of the fourth
Issue. Also have two $1.000 bond? of the
Kansas City it Pacific Railroad first
first mortgafjee 4 per cent, which I though1
of exchanging for twenty-five shares of
the Bu?h Terminal BuiMlnr Company 7
per cent cumulative preferrr.d ttock. pa.
$100. price SH7 !*>0 arid accrued divldeud
per share, yielding 8 per cent,?F. A. R.
Answer?Under the recently an?
nounced reorganization plan of the
Missouri, Kansas & Texas, you will
receive in exchange for each of your
Kansas City & Pacific first mortgage
4s $500 of the prior lien 4s of the new
company, which are secured by a mort?
gage on the entire system, subject to
! only a small amount of underlying
! bonds, and in addition you wiil receive
! $36.67 in cash for each of the bonds
you now hold. To our mind the new
I securities you receive are a more at
; tractive investment than the Bush
Terminal Buildings preferred, 'find we
advise you to hold your bonds and ac?
cept the conditions of the reorganiza?
tion pian.
Cerro De Paaco 8s
Question?Will you please tell tus how
Cerro do Pasco convertible Ss can bo con?
sidered a rond Investment at 11 or mor*, j
considering that they are callable at 105?
Is it merely the chanco that your bonds !
will not bo called or that tha stock will go ?
up??L. L. K..
Answer?It is the chance that Cerro i
de Pasco bonds will not be called and i
that stocks will go up which makes ??
j the bonds an attractive investment, in ]
i our opinion. You understand that even !
I if the bonds should be called you ]
i would still have the privilege of con- |
verting them into stock instead of sur- ;
rendering them for ?105 cash per $100 '
face value of bonds.
Binding Government Gnaranties
Question?Will you please be good enough |
to advise why Grand Trunk fis cf Kofi and
Province of Ontarto 6a, recently Issued, S
should not be selling at the saine price? j
Tho Grand Trunks have only reached M :
sad the Province of Ontario have gone j
over 100. and they ure both 6s und prac- i
tioaily the same guaranty is back of them
both. Why shouldn't the Grand Trunks
ho up to i?0? Am I fnrrect In my under?
standing that if the Grand Trunk Hallway
! does not earn Interest chnrires on these
i bonds the Canadian government must pay
i them as well na pay the bonds when due
' if the Grund Trunk defaults? I bavj ..
j ?1.000 Grand Trunk bond and 1 cannot
j n fiord to have them go wrong In any
respect, and do you consider thorn sa safe
'as a bond can be, safe? If you cor.slder
best 1 could sell same and reinvest in an?
other bond that you might consider eaie,
but do not want to do it unless you think
the Grand Trunk not aa safe as a bond can
possibly be.?J.A. L.
Answer?You are correct in your
statement that the Grand Trunk Rail?
way does not earn its interest charges,
but that the Canadian government has
o!?gated itself to a guaranty which, in
our opinion, is just as binding as that
of the Province of Ontario bonds, to
pay both principal and interest of the
Grar.k Trunk 0s. We would rate them
among the high-grade safe investments.
High Yields and Short Terms
Question?From time to time I hors a
few hundred dollars which J wouk' like to
Invest so as to get a higher re; urn than
th* bank pays Have $2,000 In tbe savings
bank, which pays 4 per cent; 11,100 in
Liberty bonds, mostly Victories. Km thtr
ty-five. married, one child, own my home
und carry ample !if.-> Insurance. Would
you advise to draw some money from tha
bank ind Invest in bonds to g?t a higher
return? Would like some bonds that run
not longer than twenty-?v? years, aro sa?e
as to principal and Interest and bring as
I high a return as possible. In your paper
I notice some short-term securities that
; yield wall above 7 per cont; would you
j recommend some? As I will not need to
? ?oil them again, I care little for marketn
j btlity if I could obtain a higher yield, as
I long a? tho principal and Interest are paid
i In cash when due. Will Interest coupons
be cashed at my bank? Last July I
' bought twenty ?hares preferred stock of
the "Dressai Manufacturing Corporation"
| dividends payable quarterly, but on Octo?
ber IS I did not sw any dividend, nor have
I heard anything from the company.
Could you tell mo anything about the cor?
poration and Its financial standing-? I>td
It pass its dividend? What do you think
about Adirondack Power and Light Corpo?
ration 8 per ??-nt preferred stock??E. II. T.
Answer?We would not advise a
man in your position to invest in
stock. You say yourself that what you
require is safety and continuity of
interest payments and the payment of
principal when due. This is character?
istic of a good bond, but not of stock,
on which, in the first place, there is
no due date for the principal. Short
term securities can be bought which
yield over 7 per cent and have a high
degree of security of principal and in
. terest, we think. We suggest Humble
Oil 7s, due 1923, recently selling
; around 99%; Kennecott Copper 7s,
i ?rae 1930, recently selling around 99%;
Copper Export Association, 8 per cent
notes due serially, the series due in
192-1, recently sold around 102% and
Solvay et Cie 8s, due 1927, recently
selling around 103, at which price they
yield 7.35 per cent if held to maturity
Your interest coupons on any of these
bonds would be cashed at your bank.
Four full columns of in?
vestment questions and an
?tcers are published in The
Tribune every Sunday
BALDWIN
A discussion of ??Ms com.
pany'i position i? piesented
in current issue of our
"5*curM*m rnnd
Commodities tiering**
Copy son? mpon ?1?4.
PH'.'i?? tt><r?? tg
grinoipnl otiiem.
A. A. Housman & Co.
Nxw T?rk ?y?!? HjeK
y?w T"rt CWtoa br?i.
.*.-?? ftrlesn* Ottnn E?rfc.
?? T. ?Vrffe* * Ru??r Enh.
K?? Vor* J'mdur? Rii-h.
Cbioage B"ard of Trad?
A?*rx;)?;? M?Dih-n ef
. LiTsrpool Oottoo Ais'n.
20 Broad Street, New York
RRA.vrn OFFITESj
ffl Went 88d HtrmX, ff??* Terk
Liberty Building. Phllado'phl?
Hoeilwtinl Building, \V ?*li!ngto?
Amstrruum, Hollund
JKeRicc-Jr &Co.Buy&Seil
Gen. Bak'g Com. & Pfd.
Old & Neu.
Hudson & Man. R. R.
Hudson Co/s. Pfd.
| !rL&Gl North. 5% Notes
Kirby Petroleum
NaL Fuel Gas
<
J.K.RIce.Jr.&Co.
Phone* 4900 to 4010 John 3* Wall tft. N. S
f*?*& CHATHAM & PHENIX
'? NATIONAL BANK
Capita! ? t*urplu>?, llS.OOO.0tXI
^fu^ **9 Broadway, Sinter Bidj.
?ANri And 12 Itmn.;,,,.
Davidson Chemical Rea<-t*
Davidson Chemical, after touching
a new high price for the year yester?
day at 59%, reacted sharply
profit? taking and short ael?ir.g
traders who argued _t.bat the aer.;1*.
tional advance of the past few .days
fad gone far enough. The D
Suiphur & Phosphate Company has
nearly $2,000.000 of convertible gold
P. per cent i.'onds which are convert?
ible up to March 1. 1922, Into ?toci
of the Chemical Company up to $60
a share. Traders arguea that o
the stock got close to that figure, it
was a good time to sell on the po.
bility of a considerable increase n
the outstanding share capital through
the conversion of these bonds.
Regular Mex. Pete. Dividend
Spsofctf ZXspotos to Th* TrOmni
LOS ANGELES, Nov. 28.?The regu?
lar dividend of 12 per cent on the com?
mon and 8 per cent en the preferred
Etock was declared by the Mexican
Petroleum Company at the meetinc
its directors to-day in New York. T: s
will be payable January 1 snd 2 re?
spectively for stockholders of record
as of December 17. This Information
is given out by the Los Angeles ofli:?
on the basis of its telegraphic report
?
London Market Quiet
LONDON, November 25- Tra?ii?
was quiet on the Stock Exchange 1 >
day. Bar gold 102s lid. Money
per cent. Discount rates: short I
3% per cent; three months bi'is
3 18-16 per cent.
Closing Btock quotations:
Consols, money. 48 H.Loulsvli;? ,..,185%
Brit i>W, loan... 88 ?M K A T. .'._
do 4V4 . $1 iN T Central.... ?.?
Atchlson.10? ?Norf A Westn.,.11
Ft A O. 4S 'Ont A Westn... 15
Canadian Pao.. 141 P?nnsvlvsnl?... 4' j
C&O. TIH i Heading . 8
Clii ?rt Westn.. 6 jSouthn Ry ....
St Paul . 31 ISouthn Pacir.o.. t -.
i>en & Rio Gds. I 1'nlon Pa- .Hi
! Erie .?. 14 %JU 8 .Stet-:._10'
do ist pf. 21V Pe Beers . I
?Grand Trunk... IV? Rand Mines.... ?M
1 111 Central.130
Paris Market Heavy
PAR?S, Nov. 25.?Prices were heavy
: on the Bourse to-day. Three per c<?: it
I rentes, 54 francs 60 centimes; exchange
i on London, 07 francs 17 centimes; 5
! per cent loan, 80 francs 20 centime?.
' dollar was quoted at 14 francs 28
? centimes.
Bid and Asked
Following are'the closing; bid and
asked ^notations of stocks listed on the
Stock Exchange in which there wev
no transactions yesterday:
Bid Asked.| Bid. Aafcid.
4? K ft D M pr 13
4PH|Krea? A Co. 65
? <i? pr . *
?8 Lutg A U/..1M
129 I do pr .. ..108
14% do B .Hi
107 Vj Lima Loco pr SI
92 IL-W nucuit. F?
C% do lit t.r.
63% t> 8d pr.
15 ?Lorlllard pr
-Vfacka* Ope.
do pr
Ms!- fVml .
! Adam* Exp. . 48
A Bk Not* pr 4?
. Air. Coal .78
; A") Cot Oil pr 43
Am Kxpryss 125
Aro Mi.': A O 14
An Pnuff _:05
M
?
ISS
109
i? %
04
? ? li
.102
Am W Wte?..
rt? 7 po pr 6j
Ann Arbor .. 5
do pr . ?2
Art Metals... 11% 15 ! do pr _56% S9
AUantio Hef..SfiO 9"<> IMsl- f\ml ...SfO TOO
do pr . ...112% U3%!Mal!in?on ... 12
Atlas Tack .. 14 15* ?Mas Mut et. ?i
Austin Nichols 10% 1 j do !?t pr at 8
|
do pr . 64
Auto Pele? Co 8%
pr
11
2d pr ot. t
do A ... 45
BameU Lea.. 35
do pr . 77
RamsdaU ... 12
Letti Ktoel pr 30%
|May De St pr.lOP 1 ,
96 Mich Ontral. ?"
55 (Mes Pet
244'lMRPASSM pr 85
m- ?Mont Pow pr W
do 8 po pr.103% 1S5 N C A 8 pr ?4
; Biro Bd&on... :>4Va 88% Nat Le?4 pr 105
?? Buff A 3u?.. ? 78 iN Y C A S L ST
I do pr . 40 54k So 1st pr... 63
Buni? Bra pr 108% 118 j 4? M or... |>
fan Southern 44% ?
e
38k 4
SO 83
80 ?
8% ??
108
(8
ft:
IN Y Doc* pr 55
?N J L * W tS
N Y fUpbl?st. 10 U
jNunnallj .... 1J^ [{U
Oh.o Bod? .. f
?Orph Cine or ? ST.
<Xls F.let pr. ? IT
?Oil* Steri pr. ? es
|P?'-iSc Orwut.. I? ?D
do 1st pr... 40 SO
I da M pr
^^^^_^^^_ P P A
do 2d pr. . 82% 58% I Peor?a A
Pont Can pr. 88 104 Phil .T.-n-* pr ?u wii
Cont it-, Co. SI 65 ?P F W A C 11
.',0 H A W l ? pr 73
Pi **r St. Par pr It I
15% Pi * n>f pr t?% ?
St I'ty? fk?c ... 00 !..
Km Rsil A Cb... H
? 1st pr... u ,?.'
Rem T In pr 53
Case J I u
Cv.it P!f>w
Osrtalpteod ..
do 1st 07. .
C A A? pr
C A N W pr 103
0 3 P M A O 57
CCOA 8 t. pr 09
01 A Pitt*. fivH
duett IVa pr 85%
Cl S 1st pr 57
88
("rex C.irpet
<>i Am Su pr 74
Da Beers .... 1H
Deere l'n pr.
I>et i: :
Dst tr, Ra
1 Durhaia Hos
'? 'I" pr _ ?SU <J5
Kast K?xla)i...e2o ?JO
d^> pr .104-14 --
Elkhom c pr. : : 89
I'm Brant .. 34 4
l-Vrbanks .. 15 T'J
Fed M A 8. N'-a 10
Plsher By pr 102 1:0
'-r. riif&r iv 85 100
GUllland O pr 35
Ooodrich pr. . ?
<i .\t *: N pr 18%
H an m an Oorp n
111 Central 1 i 6:
? M T 2d pr ?1
Int Ntekol pr 87%
Int Paper pr 9
Int 8dit _ 60 ?
Kayter J ... 78 86
do 1st pr. ..to? 110
VMs Spr s* ??: t?
??i
11
05%
?'
2d pr .. 47
R'-ns A Sar.102
^?Tage Ann?. \o
- Ros pr 9!
R-3 S A I pr 74
S I* R 8n pr ?0
Standsrd 11111.102
<'?? pr . fi if.
Rtssl Tube pr 75 7v?
*Up RtSSl pr 93% ?
81V I* * P Id tr.23? ???
88 r O R T pr. ? (>.%
80 l'n Type pr 103 115%
? l'n CWar St.10? IT?
64 dn pr .101% ??
70 f ?4 Kxpesas 0% T
t' ,8 J Al pr 74 90
V Baal 1st pr 84% 85 ?#
Wooiworth pr.JH ?
Wi> A U pr A 78 8?
.W?xfct Asm.. i% ?
\ '.'3

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New-York tribune. [volume], November 26, 1921, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924