New-York tribune. [volume] (New York [N.Y.]) 1866-1924, December 28, 1921, Image 12

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New-York tribune. [volume], December 28, 1921, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume] (New York [N.Y.]), 28 Dec. 1921. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030214/1921-12-28/ed-1/seq-12/>

Newspaper Page Text

JANUARY
INVESTMENTS
Upon request, we will ?end
our current list of offerings
of high-grade State, Munic?
ipal and Corporation bonds.
Estabrook & Co.
24 Broad St.
New York
Hartford
Provldenca
15 State St.
Boston
New Bedford
Spring field
The Price of
Capital
due to its bearing on the
future course of bond
prices is of primary im?
portance to investors?
This and other matters of
interest to holders of all
investment bonds and
stocks are exhaustively
discussed in our current
Weekly Review.
While the supply lasts.
Review No. 245 may be
obtained free of charge,
accompanied by 2c for
postage.
MOOOY'S INVESTORS SERVICE
JOHN* MOODY. President
35 Natiau Street, New York
Boston Philadelphia Chicago
r
To the holders of
Lexington Avenue
& Pavonia Ferry
RAILROAD COMPANY
1st Mtge. 5% Gold Bonds
We have prepared a Summary
on the situation of the above
bonds. A copy will be sent free
on request to bona fide bond?
holders.
Wc invite you to confer with
us on any of the Underlying
Bonds of the New York City
Traction Companies. As spe?
cialists in these issues we can
render a valuable investment
service.
Investment Securities
2 WALL ST.?NEW YORK
Telephone?Rector?3273-4
McClave & Co.
American
Locomotive
Company
Our Special
Letter will be
sent on r e
quest.
L
Ask for R-2
2 67 Exchange Place, New York
Telephone 2810 Rector
UPTOWN OFFICE
Hole! Ansonia, "3rd St. & B'way
Telephone 1615 Columbus
I'cr the convenience of
individual investors who
wish to keep a current
memorandum of all their
income derived from sala?
ries, various types of se?
curities and other property
subject to Federal income
taxes, we have prepared a
concise form of account
book based on the latest
taxuschedules.
Copies may be had free
of charge by asking for
''Income Tax Record.''
New York Trust Co.
Chase National Bank
McCLURE.JONES&REED
tiem**r% Km0 Ytvrh Stock Bttcha*tm
MA Broadway. Phano 3311 JWclor.
Stock Prices
Are Firmer in
Dull Trading
Little New Business in Sight
as Accounts Are Evened;
Covering of Commit?
ments by Shorts Feature
Interest in the financial markets was
restricted yesterday by the approach of
the year's end. Unless there is new
of a stirring nature, unexpected as
well as significant, the tendency in the
final week of the year is toward dull?
ness. Attention is focussed on closing
accounts, rather than in initiating new
operations. The inactivity yesterday,
; particularly in cotton and in the for?
eign exchanges, was heightened by the
1 fact that the London markets were
? closed, as an extra day'3 holiday was
; observed.
In the stock market the initiative re
! mained on the floor, and the same
\ forces which caused a recovery from
| the earlier reaction on Friday and Sat?
urday were again dominant. Profes?
sional speculators who had sold stocks
short during the middle, of last week,
disappointed at the steadiness of
prices, began as early as Friday to
; cover, and the movement went further
yesterday. There was evidence of
squeezing shorts, particularly in the
groups of stocks which had most heav?
ily sold last week. The result was a
firm undertone for the market, with
average net gains for both mils and
industrial stocks.
Over the holidays the accumulation
of news was insufficient to change the
trend of the market which had begun
at the close of last week. The chief
news was the announcement of price
cuts by two of the principal General
Motors units and the publication of
November statements of earnings and
expenses by the New York Central and
the Pennsylvania, both of which re?
ported gains in net operating income.
The reports served to emphasize the
need of discriminating among roads,
and offset part of the effect of the No?
vember showing of the Southern Pa?
cific.
Despite the manifestation of further
price cutting, the motor shares were
not weak. General Motors lost %, but
Studebaker was conspicuously strong.
The European exchanges were firm
Cotton quotations rose fr,om 19 to 47
points. Wheat prices, on the other
hand, were easier, reacting from the
gains of last week based on the ex?
pected Russian grain purchases.
Money and Credit
Call money, after opening and re?
newing at o per cent yesterday, de?
clined to 4% per cent during the sec- I
ond hour, at which level the rate held
until shortly before the close, when a
slight increase in demand carried the
rate back to 5 again. The government
during the day took down $14,500,000
of the funds which it has on deposit
with the banks here.
Yester?
day.
On industrial collateral... 5 7
On mixed collateral.5 7
Time money (mixed collateral):
Sixty days . B@5?4 1x'\&.lVt
Ninety clays. 5@6V4 71,4(??71^
Four months .BCa 5\? 7 (o)7?_
Four to six months. 5(a ?1* 7 (g 7'?
Bank Clearings - Bank clearings at
New York vesterdav were: Exchanges,
$70,700,000; balances, $61,600,000.
| Silver?London, holiday; New York,
domestic, bar, 99%c; foreign, 64% c;
Mexican dollars, 49Vic.
Year
ago.
3.60%
3.44
3.42
5.84
6.84%
6.18
6.17
The Dollar in Foreign Exchange
Foreign exchange rates ruled firm
yesterday, changes being relatively
small because of the holiday in Lon?
don. Gable rates on London scored
an advance of 1 !s cents at S4.201,,.
Continentals moved within a nar?
row margin and were slightly irregu?
lar. South American and Far Eastern
rates were steady, some advancing
slightly.
EIROPE
Testor- Previous Tear
day. day. ago,
GREAT BRITAIN (par M.S6 a sovereign)
Demand . 4.20 4.1 87_ 3.49
Cables . 4.20% 4.19s*
60-d bills (buy'g) 4.16^ 4.1.-, i_
90-d bills (buy'g) 4.14% 4.1 4 H
FRANCE (par lit.3 cents a franc)
Demand . 8.04 7.99
Cables . 8.04% 7.99 %
BELGIUM (par 19.3 cents a franc)
Demand . 7.73% 7.67%
Cables . 7.74 7.6S
SWITZERLAND <par 19.3 cents a franc)
Demand .19.f?l 19.54 16.18
Cables .19.?",3 19.56 J ?>._ i
ITALY (par 19.3 cent? a lira)
Demand . 4.39 % 4.4 4 % 3.36
Cables . 4.40 4.45 3.37
HOLLAND (par 40.2 cent3 a florin)
Demand .36.SO 36. 65 31.21
Cables .36.65 36.70 31.33
GERMANY (par 22.8 cents a mark)
Demand .54% .63%
Cables .54% .63%
AUSTRIA (par 20.3 cents a crown)
Demand .04 % .04% .26
Cable? .04% .04% .27
NORWAY (par 26.8 cents a crown)
Demand .15.SO 16.70 15.30
Cables .16.88 16.75 16.35
SWEDEN (par 26.8 cents a crown)
Demand .24.90 24.90 19.75
Cables .24.95 24.95 19.80
DENMARK (par 20.8 cents a crown)
Demand .20.15 20.15 15.30
Cables .20.20 20.20 35.35
SPAIN (par 19.3 cents a peseta)
Demand .14.94 14.94 12.93
C;,b!,... .14.95 14.95 12.94
PORTUGAL (par 108.05 cents an escudol
Demand . 8.25 8.25 10.45
Cables . 8.25 8.25 10.50
GREECE (par 19.3 cents a drachma)
1.35
1.39
Demand . 4.30 4.25
Cables . 4.3? 4.30
POLAND (par 23.8 cents a mark)
Demand .036 .03??
Cable? .036 .03 %
I CZECHO-SLOVAKIA (par 20.3 cents a
crown)
Demand . 1.40 1.39% 1.16
Cables . 1.40 1.39% 1.17
JUGOSLAVIA (par 20.3 cents a crown)
?.10
r. 15
.17%
Demand .39% .39%
Cables .39% .29%
RUMANIA (par IS.3 cents a leu)
1 'en.and .77 .76
Cables .77 .76
FINLAND (par 19.3 cents a mark)
Demand . 1.98 1.96
Cables .. 1.98 1.96
FAR EAST
CHINA (Shanghai par unsettled)
Demand .77.00 77.00
Cables .77.50 77.50
CHINA (Hong Kong par unsettled)
Demand .55.00 55.00 56.
Cables .55.25 65.23 66.
JAPAN (par 49.S cents a yen)
Demand .48.no 48.no
Cablea .48.25 48.25
INDIA (par 48.65 cents a rupee)
Demand . 28.25 27.75
Cables .28.50 28.00
STRAITS SETTLEMENTS (par 66.8 cents
a dollar)
Demand .:.49.00 49.00 -
Cables .49.25 49.25 -
THE AMERICAS
ARGENTINA (par 42.14 cents
peso)
Demand .33.37% 33.37% 33.87%
Cablea .33.50 23.50 34.00
; T?RAZtf. (par 82.45 Ci nts a paper mur?is)
Demand .13.00 12.87% 34.37%
Cables .13.12% 13.00 14.50
: I'Kitr (par i486 a pound)
Checks. 3.50 3.60 4.09
ECUADOR (par 48 CO cents a sucre)
Checks .24.21 23.80 -
I CHILE iiu; 36..' cents a peso >
Checks .10.62% 10.62% 14.00
L'RUOUAY i par 103.42 cents a peso)
?'becks.71.60 70.87% 74.12%
! VENEZUELA (par 19.3 cents a bolivar)
Cheeks.18.18 17.59 -
Canadian Exchange?N?w York funda la
I Montreal, 6 11-16 per cent premium; .Mont?
real funds in New York. 6% per cent dis
C?untjjrj'
T3
.74
1.28
1.30
2.41
2.46
72.50
73.00
48.75
48.87%
:6.00
:e.50
paper
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings
(Copyrirht, 1921, New York Tribune Inc.)
Stock?
Yesterday
Rnilrond Mocks . 61.200
Other ?tock.o . 527,600
AU Macks . 688,700
Oar Year January 1 to data
before a*? 1921 1920 1919
34,600 133,100 33,899,100 48,106.600 92,991,800
241.200 683,600 140.316,300 174.219,100 216,789.900
275,900 816,600 173,915,400 222,325,600 309,781,700
Teaterday
IT, S. rovernment bond?.$7,681,000
Rnilrond bond* . 3,103.000
Other bond* .3,496.000
All bonds .14,279,000
Bonds
Day before
?2,044,000
, 1.392,000
" 1,452,000
4,888,000
January 1 to date
Y cerne? 1921 1920
$34,681,000 $2,105,821,000 $2.473,801,000
2,316,000 631.702,000 699,602,000
3.627,000 787,901,000 741,219,000
30,624,000 3,525,424.000 3,814,622,000
Record of Stock and Bond Averages
(Copyrip-M,. IOC!, New York Tribune Inc.)
Stock?
Rant? Jan. 1 Ran?? io'l
Yeater- Pay Year to date. Year 1920
day beforo a?? H|*h. low, Hlrh. Low.
20 Railroad Mock*. 63.96 63.70 62.30 67.35 57.40 78.80 63.60
30 InduMriul ?lock!.. 76.13 74.10 68.27 79.13 60.80 110.00 67.67
5C Slock? . 70.84 70.18 65.88 73.38 61.02 92.06 64.80
Bonds
1C Railroad bonds. 80.38 80.15 71.13 82.12 71.01 76.97 68.75
10 Industrial bonds. 86.36 86.56 R1.48 87.66 80.45 91.45 81.30
5 Utility bonds. 80.25 80.43 69.10 81.00 70.13 74.56 67.44
25 Bonds . 8276 82.78 74.88 83.80 75.25 81.71 78.94
ITiirh. Low. Dlv. Net
1921. 1921. in$. Sale?. Open. Hl?h. Low. Close. ch?e. Rid. Ask.
49 30 4 Air Reduction. 300 48% 49 48*4 49 + 1'/a 48 51
ZWi MVA ? Ajax Rubber. 6700 16% 17% 16'/? 17'/a+ % 17% 17/a
Wa % ? Alaska ?old Minee... 800 % % % %- !/4 %
1% ?2-? Alaska Junes?. 600 % % % %- % %
59% 34 4 Allied Chemical. 1700 57' '2 68 57% 58 + 1 571 ? 58
39' i 281-4 4 Allia-Chalmera . 1400 37'/a 38 37% 38 4- % 38 38%
90 67% 7 do pf. 100 85% 85% 85% 85%? 2% 85% 85%
60'a 26' a? Amer A?r Chemical. 1400 29% 29% 29% 29%!- V* 29% 30
84 51 ? do pf. 800 66 67% 55% 57% 4- % 66 58
51 24' ? ? Amer Beet 8u?ar- 200 27'/? 27% 27% 27'/2- 27' g 27%
65'2 29',? Amer Bosch Ma?- 1400 33'/;. 35 33'/2 35 4 1% 34% 35'/j
563, 42 4 Amer Bk Shoe & Fdy 100 53 63 63 53 - 52'/2 53'i
351*2 23'a? Amer Can. 5600 331, 34% 33% 33% + % 34 34'/4
97 76% 7 do pf. 300 94 94 94 94 4- >/a 93'/4 94
1511-4 115% 12 Amer Car A Foundry 600 145 145% 145 145%-}- 2% 145 145'/a
29 6'.'a ? Amer Chicle. 1100 12 l2'/a 11% 12% 4- '/a 12'/a 13
24% 15%? Amer Cotton OU. 300 22 22 22 22 4- % 21'/a 22
67 35'-2 ? do pf. 300 46'/a 46'/2 45 45 + 1% 44'/a 46
8% 414 ? Amer Dm? Syndicate 600 4% 4% 4% 4%? % 4% 5
16 8 ? Amer Hide A Leather 300 13% 13% 13% 13% + 1% 13% 14'/4
62% 40'a? do pf. 100 59% 59% 68'/a 68/a + 1% 59 60
78% 42 7 Amer Ice. 1700 77% 78% 77 77% 4- 1% 76% 76%
731/4 57 6 do pf. 300 71% 711/2 71% 71''2! 1% 70% 71%
53% 21%? Amer Inter Corp- 2600 41'/a 41'/a 40% 41' 4 |- % 41'/8 41 "4
11% 7% 1 Amer La France. 100 9% 9% 9% 9%? % 9'/a 10
62% 17 ? Amer Linseed. 600 32% 32% 32% 32% i- % 32'/a 32%
109% 73% 6 Amer Locomotive_ 19400 103% 109% 103% 109 4- 5% 109 109'/2
115 98% 7 do pf. 300 114 114 114 114 ? %113 115
10 312 ? Amer Safety Razor.. 9600 5 5% 4% 5 4- % 4% 5
14 4! - ? Amer Ship & Com... 1200 5% 6 5% 5% + % 5% 5%
47% 29%? Amer Smeltin?. 8700 4B'/8 45% 45 45%!- % 45% 46
90 63% 7 do pf. 200 87 87% 87 87'/a+ % 87% 88'%
35 18 3 Amer 8teel Foundry. 1300 32'/a 33'/, 32% 33% h % 33 33%
96 47%? American Su?ar .... 4400 52 52% 51% 62% f la 52% 52%
107% 6N*a 7 do pf . 300 83 83 81% 81%? la 82 82'/a
88 2812 ? Amer Sumatra Tab... 9600 32 33% 31% 32% 4- 2 33'/2 34
56 48 5 Amer Tel & Cable... 100 53 63 63 53?1 52 57
119'/a 95% 9 Amer Tele? A. Telep.. 6200 1133% 114% 113', 2 114 4- % 114 114%
136% 1111/2 12 Amer Tobacco . 600 132 132 132 132 + % 131% 133%
131% 110 12 do B . 300 127 127% 127 127%}- 1% 126'/2 127%
99% 86 6 do pf new. 100 96 96% 96 96%+ 1% 95% 96%
83% 57 7 Amer Woolen . 2600 793/4 80% 79% 80% t- 1% 80 80%
IO41/2 93 7 do pf . 300 102% 102% 102% 102%? % 102% 104
391% 20% ? Amer Wr Paper pf.. 300 25% 25% 24 24 ?1% 24 25
14% 6% ? American Zinc . 600 12'% 13% 12% 13%+ % 13 13%
40% 22^., _ d0 pf . 200 37 37 37 37 - 37 38
50% 31% ? Anaconda . 10600 49% 50% 49% 50%+ % ?0% 50%
20 8% ? Amer Wat Wks pf... 400 17% 17% 17% 17%-- % 17% 17%
32% 20 ? Ann Arbor pf. 300 29% 29% 29% 29%-}- % 29% 30
3% 1 ? Asset* Realization ... 200 1% 1% 1% 1%+ % 1% '%
50% 24 4 Asso Dry Good?. 300 48% 48% 48% 48%+ % 48% 48'/a
76% 55% 6 do 1st pf. 300 75 75 75 75 - 75% 76
IO734 91 6 Associated Oil . 600 102% 102% 102% 102% + % 102 1C5
94 76% 6 Atch, Tap i San Fe. 24C0 92% 92% 92 92%- 92% 92%
88 75'/2 5 do pf . 600 81% 85% 81 % 85%- 85% 86
7% 1 ? Atl, Birm & Atl.... 1700 1% 1% 1% 1%- 1% 1%
91 77 7 Atl Coast Line. 100 83 83 83 83 ?2% 82 85%
9% 1% ? Atlantic Fruit . 600 2% 2% 2% 2%+ % 2% 3
76 18 ? Atl. Gulf * W I.... 3600 31% 321, 31% 32%+ % 313,4 32%
441/2 15%? do pf . 600 22% 23 22% 23- 1 % 22% 23%
99% 62% 7 Baldwin Locomotive.. 23900 96 99% 96 99%4 3 99 99%
105 95 7 do pf . 300 103% 104 103% 103%? %102 104%
42% 30%? Baltimore & Ohio.... 17C0 35 35% 34% 34%? % 35 35%
56% 47 4 do pf . 200 52% 53 52% 53 + % 52% 53
86 70 7 Barnett Leather pf. . 100 86 86 86 86 -' 6 83 93
27 20 ? Barn.ida.il, A . 300 19 19 19 19?1 18% 25
35 14%? do B . 300 20 20 20 20 + '/a 19% 20
8% 8% 8 Brit Emp Steel. 300 8% 8% 8% 8' j? % 8% 8%
57 55 7 do 1st pf. 300 56% 57 56% 56%? % 56% 57
223/4 22 ? do 2d pf. 300 22 22% 22 22%? % 22% 2234
62% 39% 5 Bethlehem Steel. 100 52 52 52 52 ? % 51 52%.
65 411/2 5 do Claas B. 2600 56% 56% 56% 56%+ % 563,4 57
14% 6% ? Brooklyn Rap Tran.. 600 6% 634 6% 6%? % 6 6%
10 3% ? do ctfR . 100 5% 5% 5% 5%? % 5% 5%
90 88 7 Bush Term pf. 100 90 90 90 90 - 89% 90%
1221/2 81% 10 Burns Bros . 1900 121% 121% 121 121% + % 121% 121%
6% 3% ? Butte Cop & Zinc- 1400 5% 53,4 53/4 5% 4. i/4 5?/2 53,4
22 10%? Butte A Sup Copper.. 1600 20% 21% 20% 21 + 1% 20% 21%
333/4 14%? Butterick Co . 300 31% 32% 3134 323,4 + 13/4 32% 32%
193% 7%?- Caddo Oil . 2600 12% 12% 12% 12%? % 12% 12%
74 53% 6 California Packin?.. . 600 69% 70 69% 70 + % 69% 70%
603/4 25 ? California Petroleum. 2600 48% 49% 48% 493,84- % 49% 49%
7% 334? Call Lead & Zinc- 600 6 6% 6% 6%4- |/a 6 6%
60 41% 2 Calumet & Arizona.. 300 59% 593/8 59% 59%4- 2% 56 ?
123% 101 10 Canadian Paciflc. 2600 119% 120 119% 119% + % 119 1?v
10% 3 ? Case Plow. 300 3 3 3 3 ? % 3 3%
43% 22% ? Central Leather. 1300 30% 30% 30% 30%+ % 30% 30%
96 57%? do pf. 200 63 63% 63 63%+ % 63 64
209 186 8 Central of N J. 300 186 186 186 186 ?4 181 192
36'/a 23 ? Cerro de Pasco. 1700 35 35% 35 35%4- s., 35 35%
86 38% 6 Chandler Motors. 2900 47% 49% 47 49%4- 2 49% 49%
65% 46 4 Chesapeake A Ohio.. 800 56 56 55% 56 + % 55 55%
16% 14%? Chic & E 111 w 1.... 600 15 15 15 15 ? % 14% 15
37 333/4? do pf. 400 34% 34% 34% 34%? % 343,4 35
9% 6% ? Chic Great Western. . 200 6% 6% 6% 6%? % 6% 6%
20% 14 ? do pf. 300 16% 16% 16 16 ? % 16% 17
31 i7i/4 _ Chic, Mil A St Paul 3700 19% 19% 18% 18%- 183/4 19
46% 29%? do pf. 9400 32% 32% 31% 32%+ % 32% 32%
71 60% 5 Chic & Northwestern 2700 63% 633/4 62% 63 - 623/4 63
110 95' 7 do pf. 600 99% 100 99% 100 + 1 100 102
35 22%? Chic, R I & Pacific. . 300 32 32 313,4 32 - 32 32%
893/4 683/4 7 do 7% pf. 300 84% 84% 84% 84%? % 83% 84%
73 60 5 Chic, St Paul, M & O 100 53 53 53 53?1 52 53
163/4 9 ? Chile Copper. 13300 16 16% 16 1638 r % 16% 16%
291/2 19'/., ? Chino Consol Copper, 2600 28% 28% 28% 28% f ?, 28% 2834
43% 19 " 4 Coca Cola. 1200 41% 41% 41% 41%+ % 41 41%
1234 2% ? Columbia Graph. 3600 3 3% 3 3 ? % 3 3%
62% 9% ? do pf. 600 12 123, 12 12%? % 12% 12%
67% 52 6 Columbia Ga* & Ele?: 1600 65% 65% 63% 65% | ' 8 65% 66
56% 2834 4 Comp Tab Record... 9600 55% 66% 54% 56%+ 1% 56% 563,4
12 i'2 ? Consolidated Dist- 1400 1 1 1 1 + % 1 1%
61 13%? Consolidated CUrars.. 300 20 20 20 20 - 19 22
95 77% 7 Consolidated Ga?- 900 92% 92% 91% 91%? % 913,4 92%
21% 12%? Consolidated Textile.. 1600 143,4 15 14% 15 + % 14% 15%
99% 59 4 Corn Products. 5600 95% 9734 95% 97 + % 97 97%
112 96 7 do pf. 1200 110 111 110 111 + %-,11 115
44% 22% 2% Cosden A Co. 5400 37| a 373,4 37% 373,41- 78 3754 373.4
107% 49 4 Crucible 8Uel. 3600 65 66% 65 66%} 1% 66 66%
33% 10%? Cuba-Amer Su?ar .. 2400 13% 13% 13% 13% + 38 13 i3i2
26 5% ? Cuba-Cane Su?ar - 300 63,4 7 63/4 7 + % 6% 7
67% 13%? do pf . 16O0 13% 13% 13 133,4- 13% 14
59% 23 4 Davidson Chemical... 8700 53% 54% 53% 533/44- % 53% 53%
2l' 13% 2.36 De Beers. 600 14% 14% 14% 14%- 14% 14%
110% 90' 9 Delaware A Hudson. 1100 105% 1053,4 105% 105%? % 105% 106%
249 93 6 Del, Lack A Western 1300 120% 120% 116% 116%? 3% 116 117%
41', 2% ? Dul, So Shore A Atl. 200 2% 2% 2% 2%? % 2% 3
7% 3% ? do pf . 300 3% 3% 3% 3%- 3% 4
40 15% ? Emerson-Brant pf- 200 21 21 21 21- 21 22
81 52 5 Endicott-Johnson .... 600 78% 78% 77% 78% I % 77% 78%
15% 10 ? Erie . 2600 10% 10% 10 10%+ % 10 10%
22% 15 ? do 1st pf. 1600 15% 15'/a 15% 15%- 15% 15%
15% 10 ? do 2d pf. 400 10% 10% 10 10%- 10 10%
82% 44% 8 Famous Players _ 2200 77% 78% 77% 78% | 1% 78% 783,4
97 7434 8 do pf . 100 95% 95% 95% 95% ??? % 95% 95%
19% 83/4? Fisk Rubber Tire_ 1700 12% 13 12% 12% r 3a 12% 13
20% 9% ? Freeport Texas . 300 14% 14% 14% 14%? % 14 14%
53,4 % ? Gaston Williams - 300 % % % %- % %
59% 39% 6 Gen Amer Tank. 300 51 51 51 51 - 51 53
783/B 39%? Gen Asphalt . 6900 65% 66% 65% 66% f % 66% 66%
7034 54 6 Gen Ci?ar . 600 67% 67% 67% 67%, 3a 67% 88
1433/4 109% 8 Gen Electric Co. 200 140 140 140 140 + % 139% 140
16% 938 1 Gen Motors . 23200 10% 10% 10% 10%? % 10% 10%
73% 60 6 do 6% deb. 300 72% 72% 72% 72% f % 71% 72%
44% 26%? Goodrich, B F. 1400 35% 36% 35% 38%+ % 36% 36%
1634 83/4? Gray Davis . 300 12 12 12 12 ? % 12% 12%
79% 60 7 Great Northern pf... 1600 75 753,4 75 75% ? 1 75% 75%
35% 25% 4 ta North Ore subs.. 100 32% 32% 32! s 32%+ % 32 32%
16% 6 ? Guantanamo Sacar... 600 5% 5% 5'/a 5%? % 5U 6
26 17 ? Gulf. Mobile A No pf 300 17 17 17 17 - 16 ~ 17' ?
50% 25 ? Gulf States Steel_ 300 45% 46 45% 45%? % 45% 46
13% 12 ? Habirshaw Elec . 2700 1% 1% 1% 1% (- */8 1% 1%
82 50% 4 Haskell A Barker Car 600 78% 79 78% 78%? % 78% 78%
25% 13 ? Hendee Mf? . 300 15% 153,4 15 15 ?2% 14 17
61 49%? Homestake . 400 53% 53% 53% 53%+ % 533,4 55
86 40% ? Houston Oil . 3600 77% 783,4 76% 78%4- 314 7812 78%
16% 10% 1 Hupp Motors . 300 11% 11% 1134 11%+ % 11% 11%
100% 85% 7 Illinois Central . 1000 97% 97% 98% 96%? 1 96% 96%
7% 2 .60 Indiahoma . 2400 3% 3% 3% 3%? % 3% 3%
13% 6 ? Int A?ricultur? . 200 7% 7% 7% 7%? % 7% 8
57 31%? do pf . 6C0 Z2\\ 32% 31% 31%? % 31% 32
42% 29% ? Inspiration Copper .. 2200 40% 41% 40'8 40%+ % 41% 413,4
5% 1% ? Int-Cons Corp . 600 1% 1% 1% 1%- 1% 1%
18 3% ? do pf . 300 3% 3% 3% 3%- 3% 33,4
100% 67% 5 Infl Harvester . 300 80 81 7934 81 4- 1 81% 813,4
29 21 2% Infl Cement . 100 27 27 27 27 + 78 26 28
17% 7% ? Int Mercan Marine... 100 14% 14% 14'/2 14',a-- 14% 15
673/4 36 6 do pf . 26O0 64 64% 64 64%+ 1 64 643?
42 26 ? Int Motor Truck. 600 27% 27% 27% 27%? % 27% 28'A
76 63% 7 do 1st pf. 300 72 73 72 73' 4- 34 72 73
73% 38%? Infl Paper . 600 62% 53 52% 63 ? % 5234 53
75% 67 6 do pf stpd. 300 70% 70% 70% 70%4- % 703,*, 711/,
17 11%? Infl Nickel . 1400 11% 12 11% 11%? % 1134 12 '
26 5% ? Invincible Oil . 20100 14% 15% 14% 15 -j- rg 14f- 15
4% 2 ? Island Oil . 1400 2% 2% 2% 254? % 2% 23?
37% 14% ? Jone? Te? . 2600 37% 38% 37% 38%+ % 38% 38%
High. Low. Dlv.
1821. 1021. in $.
18'/a ??
4514 4
28?g
9
547?.
27%
17%
177
91
58! i
60%
164
102
21 %
12%
1641 a
118
62
58%
36%
21
7
45</_
167'/4
28
16'_
32'. a
14%
741-2
3'8
53,i
9%
26%
23%
4SI a
61
100
25
30
1281.2
7 91/4
65
87
6%
15H
77%
89
76
G&1-2
231 2
231 4
33
46
41 Vz
83%
39
4
30%
148
16
19%
68
17! 4
0C%
79%
7134
41 y4
17
12
64 3 3
23%
65%
84
87
341/4
421/4
88
14/?
78
6C
34! '2
32
80
96
104
70 Va
1141/4
5114
40%
941.4
107
2634
10
32! 1?
16 ?
8','4 ?
13C
63
32
47!/?
138%
64
10
714
136
97
55
32
18
13
27
84%
15%
10
22
5' 2
63
Kansas City 8outh.
do pf .
Kansas A Gulf.
Kelly Springfield . .
Kennecott Copper
Sale*.
1400
200
2600
2400
19200
Open, niirh.
23 Va. _3'/4
Keystone Tire . 14600 17% 17
Kresge, S S. 3u0 173?/_ 174
Kress & Co.
Laikawanna Sleel.
3/_ Lehigh Valley
,igg & Myers Tob
Lima Locomotive . .
Loew's, Inc .
Loft Candy
200 91 91 91 91 -
100 45'/4 45'/4 45% 46%
60O 57 57% 57 67 -
100 I6OI/4 160% 160% 160%
2600 97 102 97 102 -
3C0 13 Vz 13'/a l3'/4 13'/r
26C0 9% 97/, 9% 9%
334
Lorillard, Pierre. 300 151% 151% 151% 151%?
2'-? ?
8% -
22% ?
16 ?
33! 2 ?
43 3
92 </a 7
12*8 ?
10'8 ?
102 7
44% 7
26 6
6734 e
238 -
D ?
46 e
47% -
64" a E
54 E
12 -
16
13
32i4 :
31% :
61 Va 1
20'/? -
1?
14
87
Louis & Nashville.
4 Maekay Cos pf. 300 57 67
7 Manhattan Elevated.. 900 33 35
1% Manhattan Shirt .... 600 31% 31%
2 Martin Parry . 400 19'% 19%
? Mar St Rway. 100 3 3
._ do pr pf. 3O0 35 35
12 Mexican Petrol . 13600 114% 114%
?2 Miami Copper .1200 27 * 27
1.20 Middle States Oil- 10900 13% 13%
-- Midvale Steel . 2600 26% 27%
? Minn ._ St L new- 100 5% 5%
7 Minn, St P & S Sic M 600 67% 67%
? Mo, Kan? & Texas.. . 3700 1% 1%
do pf . 1400 2% 2%
do w i. 4600 8% 8%
do w i pf. 1900 25% 26'0
Missouri Pacific _ 900 17% 17%
-f- % 107
1% 66
114% 114%
27 27%
%
do pf . 1700 45%
Montana Power . 300 59%
do pf . 300 99%
Montgomery Ward .. . 1400 13%
National Acme . 600 10%
National Biscuit _ 100 126
Nat Cloak & Suit pf. 100 66%
Not Enom & Stamp.. 600 36%
National Lead . 200 83%
Nat RR of Mex 2d pf 3C0 3
Nnvada l'on Copper. 1200 15%
New Or, Tex & Mex. 200 56%
N Y Air Brake. 300 58%
N Y Central. 2600 73%
YA
--"/4
5?34
38%
73%
24%
39%
69%
5%
14%
253-4
30%
41
63/4
983/4
25%
933
49
2833
65
101
103
24%
60
97! 2
192',4
114
37
45
93%
10-3?
13'
<?8
413,
11
?8
27'
36?
2C3,
72
13
441
55!
75
25'.
4
46%
8
27%
38%
34%
32%
6%
3
33%
15%
50
37%
67
16
9%
21
5%
30%
02
20%
23
78
48
80
54
87%
243.4
21%
67
58
19
11
603,,
N Y, Ch & St I, 2d pf
N Y, N H & Hart. .
N Y, Ont & Western.
N Y Shipbuilding. . .
North American ....
do pf .
Northern Pacific ....
Nova Srotia Steel. . .
Oklahoma Prod <fc Kef
Orpheum Circuit ....
Otis Elevator .
Otis Sl.ee! .
Pacific Development..
Pacific Gas & Elec. ..
Pacific Mail .
300 60%
1700 12%
100 21%
300 13%
3400 44
600 39%
3700' 78%
200 23%
600 2%
I00 15
200 123
300 1034
400 5%
300 66%
600 12
%
%
Pacific Oil . 6600 47%
Pan-Amer Petrol ... 3600 52%
do B . 800 46%
Pennsylvania K R. . . 6400 33%
Penn Seaboard Steel 1200 10%
Peoria & Eastern- 200 11%
People's Gas A Coke. 12600 63%
Perc Marquette. 800 20%
do prior pf. 200 64%
Phillips Jones . 100 82
do pf. 600 85
Phillips Petroleum... 300 32%
'Pierce Arrow. 600 13%
do pf. 200 30
Pierce Oil . 1400 12%
do pf. 800 73%
Pittsburgh Coal. 300 62%
Prod & Rcf. 1400 30%
Pittsburgh & W Va. . 900 24%
do pf. 100 79
Pressed Steel Car... 20O 64
do pf. 100 92
Pub Serv Corp of N J 200 66
Pullman Go. 26O0 107%
? Punta Alegre Sugar. .
2 Pure Oil .
8 Railway Steel Spring
7 do pf.
1.35 Rand Mines.
? Ray Consol Copper.. 1200
4 Reading . 4630
38% 2 do 2d pf. 200
17% ? Remington Typewtr.. 300
41! s ? Republic Iron & Steel 1400
5 ? Republic Motor Truck 300
18 ? Replogle Steel. 200
40% 5.20 Royal Dutch . 1400
1% ? Santa Cecilia Sugar.. 300
10% 1 St Joseph Lead. 200
19% ? St Louis & San Fran 300
19% ? St Louis Southwest.. 100
28 ? do pf. 2600
2% ? Saxon Motors. 300
Sears Roebuck . 4600
1%
54% ?
12^,4 -
J% ?
""%
1 1
16'
32% ?
67'.,
26 ?
17% ?
42
67%
124%
1051-8
21
25%
43%
3
3%
26
0?!%
6%
29
'16%
15%
12%
45
6
31?
57
15'
1317s m
Seneca Copper . 2600
Shattuck & Arizona.. 800
.74 Shell Trans & Trad.. 300
S;nclair Oil . 2700
Sloss-Shef Stl & Ir. . ;:03
Southern Pacific .... 3600
S? Porto Rico Sugar. 300
Southern Railroad... 1400
do pf . 1100
Standard Oil of Cal.. 3600
1 Standard Oil of N J.. 1800
do pf . 600
'. Stewart Warner .... 600
Strombere Carb. 1400
Studebaker . 14600
Submarine Boat . 300
Superior Oil . 600
Superior Steel . 3CO
? Texas Gulf . 20900
Tcnn Cop & Chem.... 1400
5 Texas Company . 9600
Texas & Pacific. 4700
1 Tex-Pac Coal & Oil.
Third Ave Rway. . .
5 Tobacco Products . .
Transcontinental Oil
5 Trans Wins Steel...
3 Twin City Rap Tran
8 Union Bag & Paper.
95%}- 1% 943/4 95!,
183%-f- 3% 183% 184
113% 113% 113%
74 %
150
104
207
12%
19
27%
74%
99
63%
62%
7934
103%
3938
86' 2
115
66%
41
42%
102%
9%
24%
72
11%
30%
70%
61%
47
11%
17%
44
18%
10%
42
134
55%
9?6
10
4
7
10
8
62'
130
92
903
6 ?
11% _
8% ?
35% ?
84 7
41% ?
<6% 6
40% ?
74 8
1400 27% 27% 27% 27%-f
300 14% 14% 143/8 14%?
1600 633-4 64 63% 64 -
19600 11% 11% 11% 11%?
300 30% 301/2 30% 30%?
300 31% 31% 31% 31%?
300 70 70 70 70 -(
Union Oil . 1200 18% 18% 18% 18%?
Union Pacific . 1600 126% 125% 125 125 -
do pf . 100 69% 693/4 69% 69%?
Union Tank pf. 100 150 150 150 150 f 1
United Cigar Stores.. 100 104 104 103% 103%?
Cnited Fruit . 300 122% 122% 122 122 ?
70% 5
105 7
41% 2
25% ?
20% ?
5734 ?
5% ?
18 ?
49% 2V
8% ?
16 ?
51% 6
S8% 4
27% -
6% ?
7 ?
29! 4 4
8! 2 ?
4% ?
23 ?
1C5 8
30% 4
m
Un Rway Invest.
U S C I Pipe & Po..
U S Food Products. . .
U S Indus Alcohol...
do pf .
U S Realty & Imp. . .
United Retail Store?.
United States Rubber,
do 1st pf.
I S Smelt & Ref. . . .
United States Steel. .
do pf .
Utah Copper . 8700
Vanadium Steel . 1300
Va-Caro Chemical_ 3CO
do pf . 1600
Vivaudou . 200
Wabash pf A. 600
Wells Fargo Express. 300'
Western Maryland..,
Western Pacific.
do pf .
Westinghouse Mfg. .
Wilson Co.
Wheel & Lake Erie.
White Oil.
White Motors.
Wick wire-Spencer
Willys Overland. 2400 5%
do pf. 300 28
Woolworth . 200 133
Worthington P & M 600 44%
25 Wri*ht Aero. 100 8%
300
300 16''{
1700 97?
900 39
300 90(,;
800 60
3200 03
76C0 04
300 993-1
200 30
109O0 833/j
300 1141;
63'/
200
300
100
1600
300
300
3600
600
1400
*Ex dividend.
Report of Month's Respite of
Taxes in Mexico Reiterated
MEXICO CITY, Dec. 27 (By The As?
sociated Press). ? Despite recent de?
nials that an extension of one month
had been granted Mexican oij com?
panies for the payment of taxes due
the Mexican government on December
125, the statement was reiterated to?
day in responsible financial circles that
such an extension had been granted
by Secretary of the Treasury de la
Huerta,
This decision was said to have been
adopted by Secretary de la Huerta be?
cause he considered it was necessary '
for the successful continuation of
negotiations now in progress among
the oil men., their bankers and the
Mexican government.
Paris Market Improves
PARIS, Dec. 27.?Prices improved on ;
the Bourse to-day. Three per cent;
rentes 64 francs 95 centimes. Ex- !
change on London 51 francs 98 cen- ?
times. Five per cent loan 80 francs ;
20 centimes. The dollar was quoted i
at 12 francs 38M- centimes.
Financial Items
The American Exchange National Bank.
12S Broadway, will pay on ami after De?
i-ember 31. 1921, preference share coupon
25 and coupon 18 detached from definitive
warrants for ordinary shares of the Mexi?
can Eagle OU Company, Ltd., representing
a final dividend of 19 per cent for the year
ending Juna 30. 1921, being equivalent to
94.53 ct-nts per share.
Bond &- Goodwin announce that effective
January 3. James C. Auchlncloss. formerly
of Auchincloss. Jooat it Patrick, will b?
admitted to their firm aa a general part?
ner.
Chicago Pneumatic Tool
Commenting on the operations of
the Chicago Pneumatic Tool Company
for the current year, Charles M.
Schwab, chairman of the board, said
yesterday that in November there was
an increase in business of between 30
and 40 per cent over the previous
months. Some slight further improve?
ment has been noted this month, he
said, notwithstanding the fact that De?
cember in the trade usually is an off1
month. ,*
In Wall Street
Cuban Loan Status
General Enoch Crowdor, who ta
shortly to return to Washington, is ex- j
peeted to submit h report to the State
Department covering conditions in
Cuba that will largely determino the
prospects for flotation of a Tuban
loan in the American market. Bank?
ers conver?mnt with the situation say
that a chief obstacle to arrangement
of the loan exist? in inability 'f the
Zaya8 Administration to arrive at a
budget adjustment satisfactory to tho
lending interest?. The delay on this
point is linked with the proposed
American tariff legislation, Cuba's
receipts from customs being dependent
mainly upon tho sugar which she can
sell in the United States. If the
United States rai?es a tariff harrier
to such sales, these receipts will
naturally be adversely affected. The
delay in the loan is ascribed as much
to the political situation at Washing?
ton as to the economic position of
Cuba. The projected temporary ad?
vance of $5,000,000 is held up for like
reasons.
One Satisfied Subscriber
There has been a deal of complaint
on the part of subscribers to recent
new issues who have had their appli?
cations sharply pared, if not altogether
rejected. Consequently, the discovery
of a satisfied subscriber created more
than average interest yesterday. It
happened this way. A large Western
house sent in a subscription for five
j bonds of the Louisville & Nashville is?
sue, an amount entirely out of line
with their presumed requirements. The
bankers, shocked by the moderation of
the order and convinced that here at
least there was no padding, allotted the
five bonds 100 per cent in full.
American Locomotive
American Locomotive led the equip?
ment group yesterday in the extent
of its advance, and the stock at the
close had spurted upward to 109, a net
rise of 5'-v\ points. Baldwin, which had
a larger turn-over, was 3 points higher
at 99li. The recent strength in Ameri?
can Locomotive has started all sorts
of rumors circulating in the Street,
but none, of them has brought forth
any official comment. Among these
? has bee?i a story of an impending extra
dividend distribution and another had
it. that the company would eventually
merge with the American Car and
Foundry. The latter yarn has been
unofficially denied. Probably the real
! reason for the rise in "Loco" lies in tho
I strong balance sheet of the company.
! As of June 30, last, working eapital
I totaled nearly $40.000,000. On that
j date there were no loan3 payable and
I there was in the treasury, among other
?securities, $10,750.000 of United States
| Treasury certificates and $2.000,000
New York City 6 per cent corporate
i stock and tax notes.
; Computing, Tabulating and Recording
Despite the fact that Computing,
j Tabulating and Recording shares have
| had a rise of about 15 points within
j the last three months the stock ad
! vanced to a new high for the year yes?
terday at 56%, and closed the market
i session v.-ith a net gain of 1%. ' It was
j announced yesterday that the com?
pany, owing to a marked improvement
! in its business during the last half
j of 1921, will make practically as good
! a showing for the full year as it did
j in 1920, when $15 a share was earned
! for the stock. Together with awards
from patent litigation, it is estimated
that net this year will reach $2.000,000.
Manchurian Railways Financing
Washington dispatches that Baron
| Shibusawa would seek a loan of $100,
j 000,000 or more for development of the
Manchurian railways, if the solution
of the Far Eastern problems accorded
i with Japan's present ideas, revived
j talk of a project that has been current
j intermittently for the last few years.
; Bankers professed only academic in
j tc-rest in the report.
Interborough's Interest
Bankers representing the Interbor
I ough Rapid Transit Company's re
; funding 5 per cent bonds yesterday
i expressed full confidence that the cou?
pon due on January 1 wouid be met.
They pointed to the Interborough's
recently improved earnings record,
which they regard as adequate to cover
interest, charges, and said that even if
this should not be the case the situa?
tion could be handled by slight defer
I ment of current accounts and oills
? payable. The scramble for funds which
! has for the la-st two years character
; ?zed preparations for this payment is
j apparently not to take place this year.
From Cradle to Crave
Opening yesterday of the compound
i interest department of the National
i City Bank's Forty-second Street office
! put into effect an idea long cherished
i by Charles E. Mitchell, its president.
He was in high spirits over the initial
i success of the plan, preliminary re?
ports covering the first hour's business
| showing the receipt of more than
\ eighty accounts. "Inauguration of the
! new department means that the Forty
! second Street branch will be literally
! a financial department store,'' said Mr.
Mitchell. "The service which we will
! render to our customers there, includ?
ing the savings, commercial and in
| vestment banking and trust depart
! ments, will provide for their needs
' from the cradle to the grave.''
j Elusive January Reinvestment Demand
Bond men and bankers will shortly
; begin pursuit of the January reinvest
| ment demand, before the war a quite
: deiinite objective, but of late years a
| phantom goal. Like Santa Claus, some
j believe in it; some do not. Among the
believers there is great diversity of
views. One investment banker esti?
mates that this January it will amount
to between $400,000,000 and $500,000,
i 000 and laments the fact that only
I about $100,000,000 securities are in
! sight to meet it. Another feels that it
! has been largely anticipated; that per
I sons with funds available next month
' have bought ahead, fearing a rise in
i bond values. To otTset the gap which
' this will make in January's market, he
foresees considerable buying by in?
vestors, who, having sold to establish
losses, cannot repurchase the securi
| ties under the new tax law for thirty
days.
People's Gas Stock Rises
Resumption of dividends on a 5 Der
? cent basis by directors of People's Gas,
j Light and Coke gave the market a sur?
prise, this being evidenced by the rush
to buy which carried prices up more
than three points at one time. Profit
i taking later caused a reaction, but a
j net gain of two points was shown at
! f?S'.s. The company had not paid divi
] dends since 1917. A recent statement
i by President Insull that he would be
I much surprised if directors did not
i restore the dividends before February
j was construed to mean that action
', would be deferred until that time, but
! the action just announced showed that
j this view was unwarranted.
Third Avenue System's Earnings
Another company in a position some
J what similar to that of People's Gas
j attracted attention yesterday ? Third
j Avenue system ? with an improved
i earnings statement. The company
! showed a surplus for November of
j $6,460 after charges, and after setting
i aside funds for interest on the adjust
j ment income 5 per cent bonds. This
j was an increase of more than $88,000
I over last year. Surplus for five month?
j after similar allowances increased
$304,429 over tr e corresponding period
of 1920, amounting to $19,321. Inter?
est on the adjustment income bonds,
which directors may decide to restore
before long, has not been paid since
1917.
Exempt from ihr
Federal lut ont? Tax
$50,000
Bogah?sa, La.
SCHOOL DISTRICT
5% Bonds
Maturing December, 1922.?i
This School District is co.
cxten^ve with the City 0*f
Bogalusa, having a popula. I
tion of 8,24 5, and mskes a
fine financial statement.
These bonds were au'i.orized
by the voters and are pay.
able, botli prinripal and in".
terest, by a direc ad valorem"
tax levied on al! taxable 1
property in the ?Xstrict.
Legality approved by
John ('. ! ?': >?? /;,g_
PRICE TO YIELD 5H%j!
on the investment
Spitzer, Rorick |
& Company
Established 1871
Equitable Building, New York
T?lrdr' Chl??
$50,000
Erie Railway
,onr. /s
Closed mortgage secured
by direct lien on over 500
miles of the main line of
the Erie system in New
York State, subject to only
$13,000,000 prior liens and
followed by over
$110,000,000 junior bonds.
102^ & Interest
To net about 6.65%
R.W. PRESSFRiCH
New York ? VWi
Municipal ami tiailroad Hyntls
IF YOUR BONDS
ARE CALLED?
Indications point to a
continuation of the re?
cent decline i-: interest
rates. Corporations hav?
ing outstanding securi?
ties with coupon rates
higher than prevailing
interest levels may call
these obligations and
substitute new issues
bearing lower rates of
interest.
This is the time, there?
fore, for investors to
place funds in obliga?
tions which arc non
callable.
Selected ?hi on
request for ( ireular R-4C.
J. G. White & Company
INCOJ ? El
37 Wall Street Mew York
r Weekly
Suggestions
Approximate ^ i(,)(1
(Jan. Far.
t Deb.
Stock . . 78 5.13(
So. Tac.
S. F. Terni.
4.?81950. 80 U 5.353
Ala. Pw r.
lstRef.?'e
1951 . 99 6.103
Int. Mer.
Marine 6's
1911 ... ??1- 7.10* ;
On request tec shall he
glad to mail, regularly.
our investment pamphlet
? "Weekly Suggestions."
Hi?, Farwell & Park
160 Broadway
Tel, Cort'.nd 89 SO
Cincinnati Northern
Vulc.Detin.Com.&Pfo.
V/est. Va. Pulp & Paper
J.K.Rice,Jr.&Co.
t'liont? ?'J JO u. 4030 J.ji.n ?>i Hi .
Adam* Expresa -!>, I'JIT
Rockford, Itfloit & Zanesville "??*. 1!'3ft
MiawlnlBtiii Water Power 7'j-. '''-*
I tali (.a? ,V < oke :?.. 18S6
FREDERIC H.HATCH & CO.
74&way.NV!";' ' felB'jjOr??
803T0*-CHICAGO ?>HILA-KO.NTREA!. PtTT56UW6l*
Equitable
Trust Co.
CLINTON GILBERT
2 Wall Stieot, N. Y. Ttl. 4848 R.et.r

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New-York tribune. [volume], December 28, 1921, Page 12, Image 12
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924