New-York tribune. [volume] (New York [N.Y.]) 1866-1924, December 28, 1921, Image 14

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New-York tribune. [volume], December 28, 1921, Page 14, Image 14
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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-14/>

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A Commercial Bank
Performing every function
of a bank.
Sound and dependable in
the old days?
Sound and dependable now.
Seeking Netv Business On
Our Record
g~* THE
?HEMICAL
NATI O NAL
BANK
OF NEW YORK
Founded 1824
BROADWAY AND CHAMBERS, FACING CITY HALL
What's Needed
More Than
Credit Insurance?
The most vital thin?: today for Manufacturers and
Wholesalers is absolute protection against abnormal, un?
foreseen credit losses?the kind of protection afforded
by the American's Policies of Credit Insurance.
Isn't it mighty good business to look at this matter like
one prominent business man, who says, 'While i have
made it a practice to limit my risk, I can trace my
principal losses to my failure to do so."
Why take chances with those precious credit account?, when you
don't have to?when you can safegua:d them absolutely at a cost
so small that it is literally and obviously one of the best invert
ntmt! you c?n possibly make!
Remember, it doesn't obligate you one bit to get the full facts
and figures. You have nothing to lose and everything; to gain
by investigating. Will you write or phone us?
Payments to Policyholders ever $10,000,000.00
7^ AMERICAN CREDIT-INDEMNITY CO.
of NEW YORK E. M. TREAT, president
ISSUES STANDARO UNLIMITED POUCH?
GREATER NEW YORK DEPARTMENT,
Downtown Office, 91 William St.
Phone?John 5:i.S-J34-R3a5
Uptown Office, 104 Fifth Av*.
Phone?Wut kin* '?40S
NEW YORK CITY
SAVINGS BANKS
SAVINGS BANKS
Greenwich Savings Bank
Sixth Avenue and Sixteenth Street, New York
INTEREST RATE, JANUARY i, roaz
Deposit? made on
or oefore Jan. io
will draw interese
from Jan.. I, 1923
Four Per Cent
$loP
Perannum.payabls
on all sums from
$5 to #5,000 on and
ens an
Account *****>*"
CHARLES M. DUTCHER, Preaident
L. DeG. QUACKENBUSH.Treftwer
FRANCIS M. BACON. *tf Secretan?? "?' B. OGDEN CHISOLM
PHPVM0SMSSI
?www ?
Seamen's Bank for Savings
TO Willi Strict.
THE TRUSTEES HAVE ORDERED
THAT AN INTEREST DIVIDEND
l>? paid to depositors entitled thereto
for the six months ending Dec. 31st,
mu.
On aroounta not exceeding five thou
sard dollars at the rate of FOUR PEU
CENT, per annum.
Payable on and after Monday, Jan.
3Cth, 3922.
DANIEL BARNES, Preaident.
WILLI8TON H. BENEDICT, Secretary.
New York, Dec. Sth, 3 921.
?NOTICE?
Deposita to dra-w Interest from Jan.
1st or Apr. 1st or July 1st or Oct. 1st
mist be mad? on or before the last day
o? the previous month.
Union Dime Savings Bank
40th St. and 0th Ave.
An Interest Dividend <125th con?
secutive) has boen declared at ths
rate of
FOUR PER CENT
per annum, credited January 1st,
182" and payable on and after
Thurs>?*r. January 19th, 1922. on
all surr.s entitled thereto under tho
by-lfiTv? from $5 to ?3.000.
?lnr,'>y deposited on <w before
January JOtb. ; 922. draws Interest
from January Jm. 1922.
AL.&X. P. IV. KINNAN. President.
EDMt'Nt? P. LIVINGSTON. Treasurer.
IK\>K F. JIA/AKD, .Secretary.
Dry Dock Savings Institution i
3*1 ? 34!? BOWERY, Cor. 3d St.. Nevr York, j
The Trustees have declared a dividend j
fat the six months ending Doeember 81,
3925, ac ?Jl dei'Ceiis entitled thereto under
*.he By's^ti at the rule of FOl>K Per Cent
lier annu;u, payable on and after January
1*. 1922
Deposits made on or before January 3 0
sriTi bo entitl#(i to interest from January
I, .-J22
ANDREW MILLS. President.
ANDREW MILLS. JR.. First Vico-Presi
dent.
FREDERICK SHERWOOD. Treasurer.
...Mi;EL WEP.STER. Secretary.
Commonwealth Savings Bank
2007 Amsterdam Ave., near 159th St.
A S?,??-Ansu.d Dividend Ha* Be-n Daclt/ed ?!
Citizens Savings Bank
G6 &? 5S BOWERY. COK. CANAL ST.
I23RD HKMI-ANXl'AI. DIVIDEND
The Trust, i-a have ordered interest
at the rate of FOIR (4*7?) l'lill
.CENT, per annum to be paid to de?
posito'? on and after January 16,
19*43, 0,1 all sums of W and up tt
?5,000 which have remained on da
posit for tlio three or six months
nding December SI, 1921, in ?c
ordauce with the By-haws and
Rules of the l!ank. Money deposited
?n or before January 18 will draw
titerest from .January 1.
HENRY SAYI,ER, President
EDWIN A. r.AUM, Secretary.
\\nu A. KICHTKR. Asat. Ssc'y.
IN THE CITY OF NEW YORK
Corner 4th Avenue and 14th Street
Interest at the rat? of
FOUR (4) PER CENTUM
Per annum will be credited depositors for
the aix months ending December 31, 13 31.
on till sums entitled theroto under the By- [
laws, not exceeding live thousand ($5,000)
dollars, and will be payable on and after
January 21, 1922.
Deposits made on or before January 10,
1922, will draw Interest from January 1,
1S22.
HUBERT OILI.IS, President.
A. KOPPEL. 2d Vlce-Pres. 4 Treas.
FINANCIAL MEETINGS
NOTICE OK ANNUAL MEETING OF
SPRINKLER EQUIPMENT COMPANY.
INC.
ANNUAL MEETING of tho stockholders
of this Company will be held January
lltt?. 1!*22. at two o'clock in the afternoon,
at *;" Wall Street. Borough of Manhattan,
New York City, New York, for the pur?
pose of electing a Board of Directors, two
Inspectors to serve at ull elections of
stockholders during the ensuing year, and
receiving ami acting upon the reports of
the officers, and for tho transaction of
such other business as may properly com.
before the meeting.
ir. S. WUBHRMANN", Secretary.
Dated December 12th, 1921. *
THE ANNUAL MEETING OF THE
Stockholders of th* REIN8CH1L1>
CHEMICAL COMPANY for th* election of
Directors and for ?ny other business that
may properly come before the meeting will
be he;.! ;it the office of the Company. 47-49
Barclay rit'cct, In the Borough of Man
haltun, ?.Ip vv York City, on the 11th day ot
thousand nine hundred and
at 8 I*. M.
BENEDICT S. WISE, Saoretarv..
Dated, New York, Cittmbu 27. litt.
Prices Irregular
In Quiet Trading
On Curb Market
Standard Oil of Indiana Re?
covers Strongly and Others
Work Hiphor? hut. Cities
Service Common Declines
_
Prices moved ?m'gu.'arly In quiet
trading o'n the curb market yesterday,
business continuing to be more or less |
uncertain. Oils attracted moat atten?
tion. Standard of Indiana recovered
strongly to above 90, while others
made small gains. Cities Service com?
mon reacted a point.
Anaconda Copper rights were ad?
mitted to trading) several hundred
changing hands at. 12 rents. United
Retail Candy worked up above 5.
Magma Copper advanced to 20, but
Burns Bros. "B" fell off fractionally.
Imperial Oil of Canada gained a
point, and International and Anglo
American advanced fractionally.
Industrials
Sales, Open, HiRh. Low. Last,
2300 Acme Coal.... 1 % 1 Vi i % 1U
1600 ?Acme Packln? 57 67 CO 65
4800 Ajax Hub rts. . 2% 3Mi -'% ?%
400 Allied Packing 3% 4't 3% *%
inn Aluminum Mr*. 17 17 17 17
100 Am Hawaii SS. 20% 20?*j 30% 20%
4100 ?Anar-on C rts. 15 IS 13 18
200 Audubon Chem. 1% 1% I'j 1%
S00 Br-Am Top epn 32% 12% 32%, 12%
650 Rurns Bros B . :?:' % 32% 32 I 32M,
4500 ? '.al I r Fruit . . fi 14 <??''.-. 6% ' :'?
2100 '? 'ar Llghl .... S3 85 82 83
100 Civ;:?!.' Tire. . . 2 2% 2 2
i) I 'oil.I i.i I0i 106 106 106
100 <?? at Tor Sug. I % I % IVi 1 '4 ;
! oo i "..--. ? land Auto 21 Va '-??, '-? " ' ii '-'' %
Colombl i Em. 71 73 70 70
lOOCont Motors... 6% 6% 6% ? Ki j
lOOCurtlsa Aero... 2% 2"? 2% 2%
800 ?Den Ri.i Q pf. 50 60 50 00
100 Du Pont Ch pf.. 9 8 9 9
400 Durant Mot... 25% 25% 25% 25%
1100 Durant Ind... 11% 11% 11% 1.1%
400Parrell Coal... 20% 20'* 19% 19 7?
lOOOeorgesOl B.. 16% 16% 15V? 15%
600 Olbson lloweli. 36% 17 16% 17
700 ?leu Aid Coal. 42?* 43 42% 42% I
300 Goldwyn Plot.. 4% 4", 4-% 4%
800 Goodyoar Tire. 12 12 12 12
100 do pf. 25% 25% 25% 25%
200 Heyden i'hom.. 1'i 1'4 1 1 I
400 Inter Rubber.. 6% 6% 6% 6%
600 Libby McNeill.. 5% 5% 6% K%
1200 Lincoln Mot A. 2% i?Va 2 ::
100 N Lcath unst.. 2 2 2 2
100 Parlons Auto.. l 1 1 l
300 Perfcc T new.. 3% 3% 3 3
700 Philip Morris.. 6% 6% 6 ?
1800 Radio. T'h 2% '- 2%
900 do pf. -?'? '.:'? 2 2
300 R J Reynolds B 36M, 30% 36 36
600 .Stand Com Tob 55% 5i. % 55 % 55'i
700Standard Mot., 8% 3% ;:'.. 3%
300 Sweets Co. 3% ?'?'? :; "? ?
500 Swift Internat. 23% 23% 22Va 22% .
600 Tobacco I'rod. . 4% 4 ?i 4', 4 1*
135 T.irl.l Ship. 0<i 67 66 G6
100 U S Distribut.. 1.1% 15'-a 3 5 % 16% |
1200 ?U S l.t ft )l. . 90 '.'I 85 90
100 do pf. 1 1 1 1
4 000 ?U S Steam. . . 14 il 12 12
3000 ?U S Ship Corp. 3 1 11 13 11
5600 Unit "Profit Sli. 2 2 1 3J 2
6200 Unit Ret Cand 5 5% 4% 4%
100 Union Carbide. 43% 45% 43% 43% .
800 Wayne Coal... i ,'? 1 ,'* 1? LiV
100 *W End Chem. 37 97 97 97
100 Willys 1st m'.. 6% 6!; 6% 6% ;
Standard Oils
2 00 Anglo-Am Oil. 17% IS'* 37'.. 18%
300 Atlantic Lobos. 9' ?1 8% 8%
75 Buckeye P L. . st X4 84 84
?0 Eureka P 1_ SI 81 83 81
445 Imp Oil Can..107 K>8 106% 106%
35 Ohio Oil.270 270 270 270
Si no? Oil of lud... SS 90 U 88 90%
100 S Oil of N r..3C9 369 367 267
150 Swan & Finch,. 30 30 30 30
Independent Oil?
200 ?Mien Oil. 53 53 53 53
100 Allied Oil now. 24 21 24 24
100 Am Fuel Oil pf 2% 2% 2% 2%
1000 ?Amal Royally :i 3 3 3
1001) ArU .Nat Gas.. 30% 11% 10% 11
10600 ?Boollo Oil_ '.'4 LM 22 22
4000 ?Boston-Wyo.. 78 79 77 78
100 ?Boston-Mex. . 30 10 30 10 !
100 Br-Am Oil Ltd. 50% 30% 30% 30% i
1900 Carib Synd. 4% 4% 4'-, 4'-;
1000 Cit Ser B ctfs. 21% 21% 21% 21s? |
260 do pf. 66% 56% t56% i-56%
250 do old.202 205 200 205
200 ('?out Ref. 5% 6% 5% 6%
500 Cosden ft Co.. 4% 4 % 41? 4%
1100 Creole Synd... 1% 1% 1% 1%
moo ?Cushing Pet. . ? 6 6 6
900 3>ur|ur?>ine. 2% 2% 2% 2%
400 ?Edmonds Oil.. 55 55 55 56
1100 Elk Basin Pet. 6% 6% 6% 6%
14900 ?Engineers Pet 60 60 or. 68
4900 Federal Oil_ i % I % i % 1 y?
400 Fenslanrt Oil. ., 9% 9% 9% 9%
1700 Gilllland Oil... 4% 4% 4 ?4 4%
900 Glenroek Oil... 1% 1% 1 i\j i -^
500 Granada Oil .. . '.', 3 :?! 3
6000 ?Hudson Oil... m 12 1" m
7860 Imperial Oil... 9% 9% 9% 9%
7on do pf. s 8 7% 7%
S300 Int Pel. 36% 17 16% IT
800 ?Keystone Ran. 86 85 75 so
6400 ?Lance Creek... 13 17 11 12
100 Livingston Pet. 1% 1% 1% 1%
700 ?Lyons Pet., . ko 65 60 65
200 Maracalbo Oil. 82% 22% 22% 22%
1300 ?Meridian Pet.. 13 15 12 12
lOOOMerritt Oil.... 8% n 8% x%
9600 Mexico Oil. -I,1? 1% I,1? 1%
700 Mountain Prod. 10% 10% 30 ]o
100 Nat oil N.I... 2% 2% 2% 274
4000 ?Noble Oil. ... 35 15 14 14
400 No Aim OIL... 2% 2% 2% 2%
1000 ?Northwest_ 26 26 2* 26
2200 ?Omar Oil. 7 6 7 7 75 7 7
700 Pennok Oil_ 5% 6% 5% 5%
200 Penn Mpx. 18 is IS IS
200 ?Red Rock.59 ?0 ?9 60
100 Ryan Cons. 5% 5% 6% 5%
700 Salt Crlt Prod. 13 3 3 3 5 13
300 Sapulpa Ref... o% 3% 3% 3%
10 Sinclair pf.90 90 90 90
11600 S ?mm s Pet_ 11% 12% 31% 3'2%
2300 Skelly Oil. 5% 6% 6 % 5%
1300 Southern PR.. 4% 6 4% 4%
24000 ?Texon O ft I... 70 74 70 72
4000 ?Tov Ranger.. S S 2 2
600 Tidal Osage... 12% 13 3 2% 3 2%
200 ?Victoria OH. .. 87 87 85 85
200 ?Vulcan Oll. ;.. 51 61 6! 51
800 Wilcox Oil. ;;-,', 3-fr K% ::%
100 ?Woodburn. . . . 70 70 70 70
49000 *Y OH. 27 32 27 31
Mining
900 Alaska-Br COL 2% 2% 2% 3%
13900 ?Big Lodge. . .. 28 28 26 27
38700 ?Boat ft Mont.. 91 91 8.8 89
2300 ?Butte-N Y_ 50 60 45 45
2000 ?Cal ft Jerome. 14 16 14 16
1000 ?Canada Cop.. 36 3'1 36 36
14)00 Cons Cop M.\ . 1% 3 ,*ff 1% l &
2800 ?Cop Canyon... 95 312 95 joy
2200 ?Contez .Silver.. 87 87 84 85
2100 Cresson Gold.. 2\i 2}J 2U :.H
6000 ?Divide Ex.... 21 21 20 20 '
42O0 ?Dundee Ariz.. 60 60 45 45
2000 ?El Salvador.. ? 6 6 6
6500 ?Eureka Croes. 27 27 26 26
200 Eureka Holh . . 3 % 3 % 1 I
1000 ?Florence Sllv. IS IS 1? is
2000 ?Gold Cons.... :: ;?! a :?
500 ?Goldfleld Flor. 30 80 30 SO
1000 ?Gold States... 53 63 65 63
3000 ?Hard Shell.... 25 25 25 25
15000 ?Harmill Dlv.. 32 14 in :4
100 Howe .Sound... 2% 2% 2% ' 2%
7000 ?Iron Blossom. 45 48 45 47'
24000 ?Indep Load.. 5 6 5 6
1000 ?Knox Divido.. 6 5 6 5
4O00 ?La Ros? Mln.. 26 32 26 SO
3000 ?MeNamara. ... 9 9 9 9
1000 ?Mr.Vum Cr s.. 4 4 4 4
600 Magma Cop... 25% 26 25% 26
1000 "lln^ll ?>Iin. . . 4 4 4 4
2700 Mason Valley. . 1% 1% is? ]5?
1900 Motherlode Cit. 5% (? 5% 6%
4O0 ?do old. 90 90 90 90
2700 ?National Tin.. 56 57 64 64
1000 ?Nevada Ophlr, 40 40 40 4P
900 New Dominion. 2% 2% 2% ??? ?.:
1800 ?Mohican. 48 48 40 4:
1600 Niplssing. 6% 7 6% 6%
4700 ?Plus Mount S. 25 26 25
2600 ?Ray Hercules. 15 15 n 11
7000 ?Rex Cons. 7 8 7 7
10110 ?Rochester Sil. 2: 2:. 23 "'i
1000 ?Silver K Cons. 59 60 60 60
1650 So Am P & G.. 6% 5% fi & ?;
300 Tono Bf'.mont. 3 ,'? 1% i v ji,
2600 "T..no Divide.. 64 64 60 ?(>
100 Tono Mining.. 1% 1% i y. 114
1600 ?Tuolurp.no_ 65 65 65 65
SAVINGS AND LOAN ASSOCIATIONS I SAVINGS AND LOAN ASSOCIATION'S
For Moms-Building and Sovintfa
FIFTEEN PA?K ROW (ground floor), NEW YORK
announce;-* its both cash dividend at its usual
annual rate or' 4V?% on Saving Share
(save-as-you-p!easc) accounts up to $5000, and
5% on instalment and income share accounts.
This Society, 84 years old, state supervised,
prudently managed, is helping many thousands
to save. Let it serve you. Savings by mail.
Deposits.before Jan. 14 earn from Jan. 1
Open Eve?, fexcept Sat.j to 7 till Jan 13
TIME
Investment Information
Quentiono of general interrtt to to- i
restar? will he answered in this col?
umn, in whidh cane only initials will
be uted. Othors will be answered by j
?util. Address ?ill inquiries, inciot- !
?nil a ?tamped, addressed envelope, to |
Financial Editor, The Tribune, ?ai I
Xuitmu Street, Sew York City. \
? ii.v <>r Hamburg !
Question City of Hamburg ^<1? What
amount of these urn IsaSiori? Are tho ??'
euro?! by i tunlelpal properties? How
would I hey bo :irr. el .1 h ttui central gov
eruinenl should repudiate Us debts or j
demonetize thu mark?- I. II. it.
Answer There are 20,010,000 mark.? j
of one issue and 156,645,600 c? another.!
City of Hamburg 4Mis isnucd, which
aro the*obligation of tlio City of Ham-'
burg, b>il iiot .secured by mortgage, and
wo think they would, like ether inter?
nal German bonds, become worthless if
Germany became bankrupt.
Hended fur Speculation
Quostint.? i have i f..-,.- hundred dollars,
,-in.l I inn ml lu m est Lh tu in thr- fullnw
:i ., .ti..i.. but I ? -:il t.- ci.-t :? t.tir advice
first. Antiin-American Oil Company, "f
ii.? m .n ii.-.i Oil. Is ?old about $10 per
??iitirti, and 1 v ?,nt to know how much divi?
dend ',>? r share <1> they pay, n:.d It ','ic
company Ij ." serious or.e, Standard Can
and i'l-'.-nic Conipanj preferred stock ?ola
about ?10 per a'.n.re and poytng |s per
share dividend. Will you civ? aoma Infor?
mation about in'..! company? Is It safe?
What is the vtr pr'.co of, llioa? share???
a, i:
Answer?We ar? not nur? what you
mean by a serious company, but we
think it would be a serious mistake
for you to speculate. You have no
facilities for making a successful ?pec?
ulation und both Anglo-American vi)
stock and Standard Gas and Electric (? '?
ner cent preferred slock are speculn-i
the.
Radio Corporation
tjuestion?1 would like to ?nie for a
1 little, information abot? the atocle of Ica'fllo
Corporation of America.. I am thinking
of buying a f?w shares, bs 1 sort of have
faith In its future. How do yon retard
it? Has It ;?ald any dividends yet'.' What
Is the par \olue of It? stock, both common
and preferred, and why is the common
sel line higher than thu preferred? Also
what is Hi? par value of the ato?le of
the Standard Oil Company of New Jersey?
Why does the common, paying 5 j>or con!,
?ell for so much more than the praforrod. j
paying 1 per cent? What ure its pooii- !
bl lit les over the preferred??H. K. G.
Answer We regard the stock- of the |
TCadio Corporation as an intorostint*;
speculation. It has increased ita bu*?i- !
ness very materially, but has not yet j
paid any dividends. Tho par value of I
the preferred stock is $5. The commun :
lias no par value. The common some- i
, times sena a fraction above the pre- I
ferrcd and sometimes a fraction below, j
Should the company become very prof- j
iiable the greater benefit would accrue
to the common stockholders, bocauso ?
the preferred is limited to dividends j
of 7 per cent. The par value (if thu |
stock of the Standard Oil Company ?f I
New Jersey is $100. The common sells
above the preferred, because the com- j
pany has very valuable assets back of :
the stock and has bson accustomed |
from time to time to pay substantial '?
extra dividends on the common.
Western Pacific Speculative
Question?-I hold ten shares of Western
Pacific preferred. I see it is steadily do- I
elinlng. What is the reason? Should f!
sell and take my loss or may 1 hold on '
without danger ot total loss??E. D. S.
Answer?If you cannot afford to
speculate you should, in our opinion,
sell your Western Pacific preferred
stock, take your loss and put your
money into some of the sound, high
grade investments that we frequently
recommend in these columns.
French and Brazilian Bands
Question?How would you compare the
relative merits of French T'.^s. 1941, und
Sao Paulo 8?, 193'i? What would your
opinion be of at) exchange of the former
for the latter, provided it could bo made
on an approximately even basis, so far as
income is concerned? What is your opln- '
ion of the now Public Service Corporation ,
-
of New Jeraej twenty your secu'eaa V i"*r
cent bonds, due De camber I, 1941, Offered
by Drexel *. '*o,, Bonbrlghl & CA. and
Ciarle, l'odg? ft Co. at D8%7- .1. W. C.
Answer You are presumably as fa?
miliar ?8 we are with the situation in
Europe in regard to the payment of the
German indemnity. France has counted
on getting this indemnity ami lier taxes
and budget have been based on the as?
sumption that the indemnity would bo
paid. South America, without* noa'Ty ai
good a past ciedit record Vs, rFrance
has had, i?, on the other hand-, ?ort?^ara
tively free of the diftlcul tie? "Ott? '?t? a
huge war debt. With these facts i^Wind
you will have to decide for .yourself
which bond you would rather hold.
French 7Vas or Sao Paulo 8s. Wft think
that the Public Service Corporation of
New Jersey secured 7 per cent bonds,
due 1941, arc a good investment.
Denver & Uio Grande 7s
Question-You wrote me N o v ertt.be r 15 a
courteous reply to my Inquiry as to (Wheth?
er tho pl'oaent ownership of I he If. ?? R. <?.
lt. R. could repudiate the bond Issues di
that railroad. 1 am owner of a number
of the 1). ? It. O. V.. R. cumuIativor.aiUii..!
meut 7 per cent bonds, payable ..i.rt 10..:'.
with a.-cumulated unpaid ?utt'ieM'.-'?'.lem-d
Ing to the printed statements on tfr> (fonda
and according to "Moody's Manu?! of .?(.aii
roads." Your reply ?rives me no informa?
tion as to whether there bonds can b? re.
pudlated or not, I am Investios nearly
every month under the guidance of the
banks I trust, and Moody's or Poor'? man?
ual and I am particularly concerned in
ttta possibility ot unscrupulous beards pf
directors of other companies possibly de?
siring to repudiate bond Issues. If these
D. & K. O. cumulative, bonds, protected
about as strongly through cumulative pro?
visions, and the pledging of a prior bond
Issue for .">0 per cent of the Interest, and
hacked up by a property valued at about
twice tho aggregate bond Issues, and prob?
ably subject to no more variations in '-si I i -
her" of directors than Is the common lot
among railways, can be repudiated; wh.it
bends can I buy safely? If you' can b i
your way clear to answer (hi* (?ueMlnp of
fundamental importance in an '? nwestor
from your close and wide grasp of.'lnvest
ment questions I would be glad to 'learn
your views at a reasonably early date.?
H. M. N.
Answer -When either a railroad com?
pany or an individual becomes bank?
rupt it often becomes necessary/to re?
pudiate some promises, and sometimes,
when either an individual or a railroad
company becomes financially involved
in difficulties, it is necessary for cred?
itors to accept something less than the
full promised payment. In cither case
the process of compromise between, dif?
ferent creditors is arrived at o'ftly'??tcr
discussion and negotiation. ,Su?h'ic^n
cussion and negotiation is going ?* in
the case of the Denver & Rio Grande.
We cannot tell you?and we doubt if
anybody can tell you?for .certain
whether or not cumulative interest on
the Denver &, Rio Grande adjustment
bonds will be paid in full, or whether
holders of .these bonds will be asked
to accept some other security in place
of the one you now hold. The tone of
your letter brings out a point which
over and over again we have tried to
make plain in these columns: A prom?
ise of pay depends for its value on the
ability of the corporation that makes
the promise to fulfill it;' If, in the
opinion of those, in control of the Den?
ver &, Rio Grande, it will be'impossible
to fulfill the promise contained /in the
adjustment bonds, the pro-miga -vi? be
repudiated, presumably eithttr'through
a voluntary or an involuntary'sHcrVifice
on the part of the holders' of these
bords. A statement was issued by the
Interstate Commerce Commission in
July. 1921, which showed that consid?
eration was being given to a plan for
the foreclosure of the refunding and
adjustment; bonds and the substitution
therefor of 7 per cent, preferred stock
of the new company, tho Denver & Rio
Grande Western, and ? per cent junior
bonds of the new company.
?--?5
Four full column^, pf_ in?
vestment questions and/?ti
svaers are published'"??"t|?
Tribune every Sunday^?K-'t
Sales. Open. High. Low. Las'.
600 ?U S Cont. 50 50 60 50
400 Unitv Gold.... 5% 4 3% 3%
1000 United Eastern. 2% 2% 2,?, 2 ,*.,
3920 ?Wnst End C. 78 SO 75 75
6000 ?V hite Cap6... 3 6 3 6
650 Yukon Gold.... 1A If* 1V* hli
"Sells cents a snare. tOdd lots.
Bond?
Sale.? (009 omitted). Open. High. Low. Laft.
|21 Allied Park 6s... 56 69', 66 69%
1 ? do 6s etfs. M 4 8 4 7 4 7
7 Aluminum 7? '25.100% 190% 100 loo
8 do 7s '33. . ..102% 10-;% 102% 30:'%
14 Am T?l ?s '2:'. ..100 300 99% 99%
1 do 6s '24.100 100 100 300
6 7 Am Sur R 6s '57. 98% 98 % 98% 98 %
7 Anacenria ''op 6s. 97% 97% 96% 96%
32 do 7s '23.100 100 99", 100
1 Ang-Am O 7%s..102% 103% 102% 102%
13 Armour ft Co 7S..101-? 101% 101% .101%
1 Bani?dall 8s. 98 98 98 91
S Reih St I 7s '23.. 100% 100% 100 100
13 do 7s '35.100% 100% 100% 100%
1 Can Pacific 6s... 99% 99% 99% 99",
J 9 Cent Steel 8s.... 99% 99 % 99% 99 9*
5 Charcoal Iron Ss. 98% ?8% 98% 98%
28 Col Graph 8s.... 39','a 40 38 38
20 Cons Textile 8s.. 97 97% 96% 9.6%
1 Cop Exp 8s '25.. 101 101 101 101
2 do 8b '24.105 103 303 103
3 do 8s '25.303% 303% 103% 108%
6 Cudahv 7s.100% 100% 100% 100 %
7 Cuban Tel 7%s. .103 103% 103 103%
8 De?-re Co 7%s.. 94% 96 94% 96
?J Galena S Oil 7s..loo 300 3 00 300
33 Gen Asphalt 8s..105 105% 105 305
10 Goodrich Tire 7s.*6% 96% 96% 96%
2 Gd Trunk 6%s...l03 303% 103 30'3%
9 Gulf Oil 7s.103 303 102% 302",
25 Humble Oil 7s... 99% 99% 99% 99%
4 Inter R T 7s_ 73% 73% 73% 73%
15 do 8s. 71% 71% 71% 71%
37 Kennecotl c 7s...101% 101% 101 lot
:; Llbby McNeill 7s. 99% 99% 99% 99 t?
2 Morris & Co 7%8..102% 102% 1.02% 102%
7 Nat Acme 7%s.. 96V* 96 % 96% 96'?
4 N Cloak ft S 8s.. 95 95% 95 95%
3 Nat Leather 8s... 96 96% 96 96%
I 3 5 NY Nil ft II 4s. . 67% 67 % 67% 67%
! 52 Oregon S 6s. 96?ja 96% 96% 96%
L'3 Otts Steel 8s.98% 28% 9 8 98 %
j 12 Phila Co Bs. 94% 94% 94% 94%
9 Phila Eleo 6s_100% 100% 100% 100%
1 Philippine 6%S..104% 104% 304 % 104 '/j
12 Phillips Pet 7%s.l02 102 102 102
10:i I'uh Ser N .1 7s... 98% 98% 97% 97%
7 Robert Galr 7s.. 97 97 96% 96%
1 Sears-Roe 7s '22.. 99% 59% 99s? 99%
21 do 7s '23. 99% 99% 98% 99
:> Shawsheen 7s. ...102 10'.' % 101 % 1 oj %
1 Solvay et Cle is.101 102 102 302
25 Southern Ry ?is.. 99% 99% 99% 99%
8 S'west Bell 7s...100% 100% 100 100
1 S OU N Y 7-1 26..104% 304% 104% 104%
1 do 7s '27.3 05% 105% 105% 105%
B <lo 7s '28.105% 105% 105% 105%
3 do 7s '29.105% 105% 105% 305%
2 <)o 7s '30.107 107 107 107
2 do 7s '31.108% 3 08'* 3 08% 3 08%
3 8 do 6%s.105% 105'* 105% 105%
12 Swift ft Co 7s '26. 99% 99% 99% 9?',
5 do 7s '31.101% 101% 101% 101 %
40 Texas Co 7s.10 I 101 100% 100%
37 Tobacco Prod 7s. 99% 99% 99% 99%
4 Toledo Ed 7s.... 105?? 105% 103% 3 03%
9 Unit Oll Prod 8s.. 96% 97 96 96
7 Cn Ry Hav 7%s.100% 100% 100% mo%
7 Vacunal Oll 7s...106% 106% 108% 10?%
3 9 Warner Sug 7s.. 96% 96% 96% 96 Va
8 W?stem Elec 7s..l03% 103% 103% 103%
24 Wilson Co 7%s.. 96% 96% 96 96
2 Winchester 7%s.. 99% 100 99% 100
Foreig-n Bonds
60 Argentine 7s.0.71, 97% 97% .17^
3 French Prom ?s.. 721-; 72% 72% 7ui-.
2 Ger Gvl 5s . 5 5 5
1 Russian 6%s.... 12 3 2 lu 12
90 do ii %s ctfs, . 12 12 II 111.
17 Rio Grande 8s... 99% 99% 99 99 "
121 Swis.-- Gvt 6s.... 94% 96% 94% 95*i
Markets in Other Cities
19%
7 Baltimore Tube
93 Con Coal. 8 1
1585 Celestlne Oil... 46
1 5 i 'our Gas. 94
26 Cent Ter pf. . . 2
68 Fidelity ft Depilo
13 Aid Casualty. .. 77
7.". Mi Vernon M. , 3 2
3 00 do pf . 4 7
200 Monon row?
SO Mereh Banks
* NeT Am Cas
0 Penn Water.
35 Un Ry.
10 U S Rubber.
147 W B A A_
90 do pf ....
Bonds
10 City 4s. 1961 . . 93%
1 Chi Rv 6s. 66
3 Sb Adj 5?. 16
60 l.n Ry 4s. 67%
Bostbn
Mlnlnjr
... 12%
Baltimore
Open. High. Low. Last.
':% 'i??%?'?. 15%
":.% -,???%"-' 2&1-J
9 2% ?'; SS?? 92%
14% 1 * %
5 4
. 14
"3
60
. 49%
. 5 S
.274
. 1 ! ' '.
59
. 6%
. IOS,
24
? %
5 7
18
13%
36'i
43%
1%
!????
?0 Am 7,irc
20 Ahmeek ...
206 Allouez ....
?0 Alaska .
335 Anaconda . .
270 Cal & Ariz..
88 Cal & Hecla
155 Carson .
70 Cop Hang?..
140 Davis Daly..
570 East Butte. .
60 Hancock . 2 %
100 Indiana . 3D
13 5 Island Creek.. 82
105 Isle Royale. . . 23%
130 La Salle. 2
600 Michigan . 1 %
70 Mohawk . 66%
350 New Cornelia. IS
60 New River pf.. 7 5
205 NIplsslnff . -;
S75 North Butte. . 13
90 Old Dominion. 24
50 Osceola ...... 33%
60 Qulncy . 4 1%
20 St Mary's 3,d.. 45
260 Sup ft Bost. . .. 1 %
3 595 Trinity . 3%
1100 Tuoluinno .... 65
15 U S Smeller;
290 do pf.
960 T'tah Cons . .
250 Utah Metals.
Railroads
213 Boston Kiev.. . 7*
1? do pf. P4
3 57 Bost ft Ms hie. 14
267 Northern N H. 69
290 N Y N H ft H. 12%
110 Old Colon1'. ... 68
4 West Knd .... 49 %
10 do pf. 5 9
Miscellaneous
41 Am Asrrlcult. . 29% 2
25 do pf. 50
700 Am Oil . 1"
80 Amoskeag .... 98
100 Am Bosch .... 33%
60 Am Pneu .... 4
27 do pf. 14%
IB 0 A m Sugar.... 61 %
?5 do pf. 81%
415 A m Tel .114 ,
55 Am Wool of.. 102%
10.) Bos Mex Pet. . IS
10 Eastern Mft?-- 8%
460 Kastern S S.. . 37 3
4 5 Edison .ICI % .16
1980 Elder .
209 Gardner .
516 G ray .
. 10 Greenfield
2 5 lut Cot Mill pf
160 Island OIL . . ..
90 .) T Connor. . ..
323 Libbv .
136 Loews.
225 Mass Mas.
12 V? J?.?
.12%
61
24
50% y-i'm': 60 %
597. '*tVe--?-,n
?I-2T1*
3' . : 1 !F%
6% i -6%
ri m
o 30
:*o
ja,%
39%
6%
,11 %
2%
30
66%
IS
7
13%
24
23%
-?4% 4* .
43* 4.?;. 46
$&%&# ''*
74% "74 f 74%
9t 9f.'T 9 4
H'4W15% 14
69 wHi9-- ?9
I 2 VS "I 2
5.8 58
49%
59 -
49'-j
09
10
I O
82%
114-% .11.,
103' 1-V2
1
12%
58
49%
53
29%
59
5
99 %
14. -34
53%. t?%
SIM fS?
3%,1.1+?%
10%
3 2%
17
1 0 % 1 9 %
8%
JA
dO pi
61 Vii
.3 30
21 Mereenthaler.
3 9.' Mls.-i River Pr. 13
S0 do pf. 73
210 Nati Leather.. 2%
70 New Eni? Tel. 109%
10 New Eutf Oil. . I
1,'. ) i irnheurn .... 15
26 Pac Mills.169
43 1 Plant pf. 7c %
35 Swift . 97%
C, jo Swift Intl ? ? ?
10 Torrlngt'.n .
110 L?nited Drug
12 do 3ri pf..
15 United Fruit
550 United Shoe... 27%
20 do pf. 2 j
IdPO Ventura . 23%
21 7} Waldorf . 28%.
300 Waltham . 6 %
220Walworth ... 8%
145 Warren Bros.. 20
40 do 1st pf- 32%
60 do 2d pf.... 34
Bonds
?.?VOi.n A G W is. .- 35%
am C J 8 is. 76%
3000 Misa Rtv Pr 5b 87%
?COO X ?ng Tel Sa. 9S%
?1 %
13*1
6 i 1
130
?tri
? 15
?'? 8 Vi
5 7%
i.; .
ii
10 V?!
12
19%
63%
61%
53%
72
. 44%
.122%
THE
NATIONAL PARK
OF NEW YORK
214 "Broadway
Trust Department Safe Deposit Vaultt
Forticn E.vt'ianjc Department
Securities Department Credit D?/xirtmeiu
IN THE TRUE SENSE
A Commercial Bank
mm
/
s*
Sales. Open. High. Low. T.ast.
?lOnO Seneca Cop 8s. 120 120 120 120
1000 Western Tel 6s 90% 90% 99% 90%
Boston Curb
Bid AsHI Bid Asie
Ali;: E.xtn... 1 2 M.a Rose. ...20 30
Ari:< Silver..18 10 Majestic. .. 3
Ariz Tip Top 3 * Mex Metals..? 1't
Bllt Haws.. 7 9 Midw Moss..? 3
Chief Con... :i 3?4 Mutual D T .38 40
Calaveras ...50 ? Monarch ...? 16
Crystal new.60 57 Ml I. & 7....? 2
Denbigh ... 7 9 'Nixon.7 S
Eagle B B. 2'i 3 Rainier . ... 6 ?
Eureka Cro.27 28 Svn Metals.. 8 10
'Fortuna ...? 2 ?Silver Reef. 2 4
Gadsden ...40 50 Te.xana .... 0 in
Homa Oil... 0 10 l'n Ver Ex.. 28'i 29
Iron BI08S..35 45 Yukon. 1 1%
Iron Cap. . . 7 % 8 I
Chicago
Sales. Open. High, Low. Last.
30 Am Radiator. 88 88 88 88
800 Armour pr.... !'2% 92% 91% 92
50 Heaver B*d pf 25 25 -5 25
25 C C & C pf. . I7? 4 % 4% 4 ',
100 Ch Kiev Ry pt 1 % 1 % ! % 1 %
50 do series i . . in 10 in i o
26 do serles 2. . 't 2 2 2
830 Cud ally ...... 50% 51 50% 51
: is Comw Eldl ion. m 114% 114 1 14 '-i
4300 do rights... 95e 95o 94o 95.'
200 Cont Motors .. 6% 6% 6% 6',A
SO Drore pf . 62% 62% 62 62
4 (in Earl Motors. . 9 % 9',? 1 0
5n iral-t ,s ,c, ?\r, . ;?,? 72 72 72
1r.no I.ibbv .: 5 % 6 5*4, 6%
200 Lindsay Light. 4',4 4 t? -i % 414
45 Mw Util pr pr S3 S3 83 83
45 do pT . 63 63 6.'; . 63
36 Mitchell . 4 H ?> % <% 4%
600 Montg'y Ward. 13?, !:;?'?, 13% 1 '! %
25 Nat Carbon pf. I in un ] 1 0 no
600 Nat Leather.. 2% 2% 2 2 V?
366 do stamped.. 2', 2% 2% 2',
200 Orpheum . 3 5 15 15 15
175 People's Gas.. <'4% 64% *4 t>4
210 Pick & i"o.... 28 28 27% 27%
3300 Plggly Wig A. 30 33 M 30 52
35 Pub Svc pf. . . . 83% S;*.% 83% 821.;,
'.'5 Reo Motors .. 1 7 '?? 17% 17% 17%
467 Sear? Roeb'k. 58 69 68 60
400 Stewart. Warn 24% 21% 24% 24%
50 Swift & Co.... 97% 07% ??'?? 97%
4200 Swift Intl ... 23% 22% 22% 22%
50 Stand Gas pf. 42 42 42 42
300 Thompson _ 45 45 44% 43
200 Tomtor A. 3% 3% 3% 3%
4200 Union Carbide 42% 444 43% 444
25 United Ir Wka 71* 7% 7% 7%
90 Wahl . 63% 54 53% 54
300 Wrlgley .102% 102% 102 102
225 Teltow Taxi... 57% 57% 57% 57%
Bonds
$71000 C C & C 68.. 34 S4 34 34
3000 C C Ry? 1st 5s 67% 67% 67% 67%
Cleveland
Bid Ask, Rid Ask
Clev Ry... 85 87 Goodycar.. 11% 12%
Firestone.. 50 HO do pt... 24% 25%
do 6% pf 75 80 Peerless... 35 37
do 7"5 pt 65 72, IPro&Ag pf 5% 6%
Fisher pf. 80 85 *Shwr \V. . 20 22
Clidden... 10 12 do pf.. 1)3 96
?Ex dividend.
Detroit
125 Am Lt &. Tr..l07 107 106% 106%
200 Charcoal pf.. 1 % 1% 1% 1%
100 Coluro Motors. 2 2 2 2
1500 Continental .. ii% 6 % 6% 6 %
400 Edmun & Jon 8% 8% S % 8%
10 Ford, .255 255 250 255
1800 Lincoln . 2% 2% 2 2
4 no Packard . 7% 7% 7% 7%
HO do pf . 6.; 61 65% 65%
5 25 Reo . 17 % 17 % 1 7 % 17 %
Philadelphia
10 Amer Stores ..87 87 87 87
in Cambria St.'el "5 7 5 75 75
100 Halo & Kilb.. 8 S 8 8
in Lake Sup. 7 7 7 7
162 Lehigh Nav... RS'i 68% ?7% 67%
.17 Phil Co cm pr 36 36 35% ;,i>
276 Phil Elec. 23% 24 23% 23%
249 Phil Elec pf.. 27% 27% 27 27%
1066 P K T. 17'.3 17% 17 17
680 V Q I. 40 in 4 39% 40%
: 85 do pf . 61 61 51 61
I 50 W .1 & S. 27% 27% 27 27
465 Wm Cr & Son-' 45 45 39 43
Bonds
%l 00 \m Gas .v- K 6a 82 S2 82 S2
2000 1! & O 6s. 95% 95% ????' ? ; 95 ?i
1000 Nor Cent 5s.. 96% 96% 96 % 9C%
1000 Penn 6%8 ...103% 103% 103% 103%?
1000 Phil E! 4s_ 72 72 "1 ! 7:*
2600 Phil El 1st 6h 94 U ' '. ! ?2 K,
29000 Phil El 6s, . . I1": s '."""?, 100 100%
370O0 itcad Jer Cn 4s ^2,^ 82% 82% 82%
1000 Span Amer 6s. 100 100 100 100
, Pittsburgh
50 Am Vit Prod . ?>'?. 9% ?1 'I
5(25 Ark Nat I las. 114 ' I 4 10% !1
l'iO Am Wn G M h, 7 7 67 67
170 Mfrs Lt & Ht 4S 1-i 48 18
2 0 Nat Frpfg pf. 15% 15% 15% 16%
25 Ohio Fuel Oil 2 1 21 20% 20%
71 Okla Nat Gas 20% 20% 20 20
1000 Pitts Mt Shas 2.;,- 26c 26c 26c
30 Union Gas....118 118 118 3 18
26 West Air Brk. 94% 94% 94% 94%
Montreal
Abilibi P & P. U'i 30% 30% M %
AC utos Corp. 5X1 50 '. I % 19 ' ?
Atlantic Segar Re?. 27 27 27 27
Bra:; T L & P. 28 28 28 28
I British Emp Steel.. 3% 8% 8% 8?4
?I" 2d p? is. 23% 23% 2.: \ . ',
Canada Gen Eh>. ... "5 95 95 1)5
Dom Bridge . t'i-S, t<5% 63% 63%
! Dont Steel Corp pf -W ?. 66% 66 "% 66V?
i MC I. II & P Cms. 86 , 87 86% S7
Nat Brewi ries . 55 60 55 55
Quebec Ry 1. 11 & P 2 3 23 2: 2.:
Spanish River . KO 60 60 60
Sfel Co of Can.... 50% HO 59% 60
do pf . 93 92 93 93
Bid. Asked.
Blordan Pulp ?-. Pap. new coin 70 80
do olci pi . 4% 4%
Toronto
Bid Ask- Bid Ask
Bailey. 1 ?c Ptrsn Lake. 3 7
Contaras. . . % 1% Poro Crown. 10 20
Crown Rav.15 26c Poro Imp....? 2c
Dome I.ak?? 8c Pratn FC Dm 3 5o
HclHnger . . 7% I Tck lighs.,12 13
Mclntyre... . 1% l'a.TmdcmtK ..II ?So
Vitig Cp Cn. % l%iW??t r$rne. I 9?
Nuwrmy . ... ? f
Rail Net Incomes
Continue to Gain
As Gross Declines
Many Large Roads Make
Remarkable Showing in
November, Considering
Slump in Revenue Figures
November railroad earnings show a
remarkable gain in net when the large
decreases shown in gross earnings are
1 taken into consideration.
The Pennsylvania Railroad's Novcm
' bor gross was $42,044,000. or $16,065,
j 000 less than the gross in November,
j 1920, while net in the 1921 month wa3
! $0,910.000, an increase over the corre
?
: spending 1920 month of $1,305,000.
! Great Northern shows a loss of about
$1,600,000 in gross, but an increase of
over $1,300,000 in net.
Chicago A Northwestern continues
to show the same unsatisfactory ratio
of expenses to revenues in November
that it has in prior months in 102'
and in J920. Gross revenues in No?
vember, 1921, were $10,861,000, as com?
pared with $14,781,000 i3i November,
1920. Net asnounted to $775,000
in November, 1921, comparing with
$589,000 net in November. 1920.
The showing of the Cleveland, Chi?
cago & St. Louis is notable in that
with a reduction of about 81,600,000 in
total operating revenue, the company
was able to save about $1,300,000 in
transportation expenses alone, so that
with the saving made in general ex?
penses, etc., total operating expenses
were reduced by about $1,700,000 and
only about $300,000 of this was taken
out of maintenance expenses.
The Great Northern's reduction in
transportation expenses was nearly as
great proportionately as that of the
Big Four and there was not as large
a slump in business. On the other
hand the Great Northern has reduced
its maintena3ice charges to a minimum.
One explanation of this is. of course,
that Great Northern could not, if it ;
would, spend much on maintenance of .
way during the winter months.
Out of the seventeen roads reporting
November earnings to-day, the only j
one that shows an increase in gross '?
is the Norfolk Southern. Thi3 com?
pany had $749,000 gross in November,
1921, as against $632,000 in November.
1920.
Chicago ? Northwestern
Nov. op?r. rev.$10.861,000 $14.781.000
Trans, cip. 6,074.000 7,185,000
Maint, charge . 4.474.000 6,340,000
Total opera. <-xp.... 10.08fi,00O 14,192,000
Net opera, rev. 775.000 589,090
Philadelphia Si Keadlnr
Nov. opera, rev. 7,393,000 $9,83 '
Trans, exp. 2.815.000 4.346,000
Maint, charge . 2.550,000 3,066,(.
Total opera, fsp.... 6.664,000 7,679,000
Net opera, rev. }.,828,000 2 :
Cleveland; Cincinnati, Chicago * St. Louis !
Nov. opera, rev. $6,392,000 $8,091,000
Trans f-xp. 2,809,000 1,065,000
Maint. charge . 5,525,000 2,871,000
Total ..?...-ra exp.... 6.040,000 6.766,000
Net opera, rev. 1.352.000 1.326,000
New York, 4'hiciigo A. St. I/OUIM
\..-.\ opi ra. ro\. 52,3 .. 0O.0 ? "
Tr me ?xi>. 837,000 1.091,000
Maint, charge . 663 000
Total opera, exp. . . . 1,649,000
Net opera rev. 676,000 39,00
Texas & Pacific
Nov. oper rev. $3,076,000 $ : 962 000
Trans, exp. 1,029.000 1,788,000
Mainten i harge? 889 000
Total oper. exp. 2,16 1,000
Net oper. rev. 916,000 367,000
Pittsburgh & I-ake Krie
Nov oper. rev. $2,046,000 $4.
Transp, sxp. 747.000 1,490 000
Mainten charges..".. S53.000 1.575,000
Total oper. <xp. 1.(187.000
Net oper. rev. ^59.090
tireat Northern
Nov. opor. rev.$10.674,000 $12.298.000
Transp. esp. 3.764.000 6,413,000
Maintenance way.... 818.000 1,391.000
Mainten. equip. 1.797.000 2.435.00 '
Total oper. exp. ?,779.000 9,1
Net oper. rev. 3,896,000 2,666.000
Kleven moi. op. rev. 93,642,000 3 3 5.3 20.00o ,
Transp. exp. S7,458.000 53,009.00.1;
Mainten. way. 12,99?. 000 24,333,000 :
Mainten. equip. 19,448.000 24.488.000
Total oper. exp. 74,558,000 105.137.000
Net oper. rev. 19.034,000 9,983,000,
Norfolk Southern
Nov. oper. rev. $749,000 $632.000
Transp. exp. R12.000 382.000
Mainten. charges.... 212.000 1S0.0001
Total oper. exp. 676.000 536,000'
Net oper. rev. 173.000 l?,0CO
Western Mary land
Nov. oper rev ,... $ 11,000 i: 125.100
Trai p. exp- . . I34,?M
Mainten. way. i 215.tw
Mainten. ?i?u?p. 522,009
Total oper. ? \r>. 1,771 OW
?Net oper. rev. ?2.000 354.?to
Pennsylvania Railroad
November gross.$42,04 790 Dec.lM.OCB.O "
Bal. after tax... I - 140 Ine. 800.743
Net op. r. income 5.9 6 lnc ' < -
I ! mon.' gross.. .460,1 . ' 65 1 >ec. 53
Bal. af,ei tax... 4 inc. (8 814.9 7
Net oper. income 37.995 964 inc. 8?,8l
Minneapolis A St. i-ouis
November groa . Dec. $12".7'4
Bal. after tax.. " Inc. 268.959
Net 01 2St; 7n.?
? gross. . ' ???? 67! ) ?
Ba). after tax 284.707 Inc. 1.76? m i
Ni i op !? deficit . Dec. l,???.!64
"M. Louis A San Krancisco System
11 month?.
Gross . '? ?79,810.8:8
Oper ?? -tpeiise? ??'? 80! ?&3
?Taie . etc. '?
: 10-31
?Includes h - ' - ' Jolr
lty renta I sa oi
I cltiffh \allp?
-,..- Cross. . . - Dec 11 IX?.I6?
Bal. after ta
Set. op. incoin
I 1 mos." gross.. ' S?? ''''
Bal after ta>
\i t op, ini ime . 1.749.047 1
U'abasli
;-...-. gross $4 ?? . ?< Den. (?26 7*6
Bal. aftei ?? . ? Inc. 407.010
. . 1 .,.? ?546 ?8S
II mus.' km. 1 54.760.R6I Pa ' ' ' :
fter lax
I income '* 54?.2S1
New "lork, Ontario .V Viestern
Nov. gross.$1.0 * ?'?-' '??"?
fter tax S hi *
Ni 1 op. Income . 54,S 48.8' '
11 mes.' gros ' 1 ' 1,119.8 1
ter tax. . 1,569,677 lnc ! .694
Ni 1 op. ?ncoi ic : 276,053 In.'. 1.425 V. I
Pittsburgh, Cincinnati. < hi. * St, tools
Nov gross ... 88 6S2.091 Pee. I !
Bal. after tax.., *
Net op. income ? ? - '
11 mos ' 89.64 :
Bal, after ta 13,896 11 12.221.084
Net op. deficil . . . 373.03 1 D !C i ; 3H >'?
< entrai of Georgia
Nov. gross. .. . $1.744,526 Dec. 1224.388
Bal. after la -
Net oper. Incoi In ' ,;< '; ;
11 mos.' ???? : n 57 '.686 1 ' 2.658.8??
Bal. aft - ? !'??" ' "i
? -??" < J
Nov. gross. 163,084 D -
Kutland
Nov. gross. ' 54 s ' 1
a ft er tax ?,7 " ?
?. ? ' "' '
Bal. after ta ?1,'?
Net opei 12,641 1 ne 612.M?
Buffalo ?. Susquehanna ?
Nov. gross. $182 J1K 9-8
Def. after tai t 09 , [ne U.laJ
Net opei Im erne
1 1 mos.' gross. . 1,888.960 Dec i
Per. after tax.. 32 1.675 It '? ' ?
Net oper. Incon ? 47,997 1 *?- ? : - 1
IX>U?SV?lIe * Naehvlllf
- ?? gro! . $9,163,106 Dee $1 M '
ifter tax. .
-;. : opei '.. ??;:??? 1,061.041 inc
il mus.' gros?. .108,744,004 "Dee. T.I
Bal. after ! i\ 5,01 0,2*! 6 Inc .4.4
Net ... 1 'i ' 200.814 Inc 1.47' 1
Equipment Bonds
(Quoted on Income p?rcentace hasi?'
Name Hii?. Maturity. Bid
A V ? S F.. 6 1922--25 B
Atl Coast Line. 6 1922 '35 MO S i
do. 6% I923-*36 6 ? P
Boston & A!... 6% l922-*27 .'? 90 ?-??
B & 0. 4 4 1 ? 22-'2'7 S.00 ?
Bethlehem st. . 7 10 S.S5 **> '
Puff R & P . . 4%-5-G 1922 ;?5 6.00 6.5t
Canadian Nat!. 7 1936 r, TI <"? '?
Canadian North ? lT>22-'2*> 6.25 6?'*?
Canadian Pa? < % 6 l921-'32 6 00
C it R of N J. 6 s .". S'. ' *?
Che's * ?? i I924-'S5 B 90 '
C B & Q. .. ., 6 1922?':' :
<'m.- & N W. .. * 4 1921 -'23 6.90 *
do . ? I922-'3B 6 90 *?
do . 6% I925-'36 5.90
C R I & Pai . . 4%-5 1921 -'27 6 ! ?? "*?
C St L .<.- N i i . f. I I )
( C >' <v St 1... 5-6 1922-'2J 6 no 6,79
Del & Hudson.. 4% 1928 ' *
do . 6 l9??-"3
EH? it it. 4%-;.-6 1921--J6 * I
Great North Ry o 1922-'36 5 90 B.7|
ind 6% 6.26 |
Illinois Central. 4%-? 192l-'27 6.81 >
do . 6 1922-'3S 6.8b 5 ''??
do . 6M?-7 1925--3? 5.85 6 $?
Kan City South 5 1922-'24 ( >
Louis & Nash 1921-*23 5 on . '^
do . ?> l923-'?8 B 9? 1
Michigan Cent 5 6 022- . %
M St P&S S M '4-6 1921--2? ?.'.'. .- <?
do . ?%-e 7 1?S1 .'28 6 26 t 7<
M K & T.> l?21-'34 T.O0 t
N Y Central.... ?%-5 l?31-*32 ? 90 ?
do . i
do. 192:3 , 5.?0 ?.7
N T N* H k II . 4 4-5-6 1321--3*? 6 75
Norfolk & W.. 4', l?21-,24 ?
do-.,..,6 1922-'3? l
North Pacific. 7 r.i21-'?0 b.?O 6?
Pac Frult Exp. 7 1925-36 6 90 i> *
Pennsyl G F... 4-44 ID?l-'S? 6 8^ i "I
Pcr-.nsylvauU .. B 1922-*35 ?00 e.H
Pitts & L Erle. 6% 192l-*35 6*10 . 7|
Reading Co ... 4% 1921-'2T 6.7S a 51
Seaboard A L. ? 4 -?-? 19I1-*I7 T.60 #."f
Southern Pac. 44 1931-'2I (.(? ???I
do . 7 '234-'S5 6.1? 6 ?I
Southern Ry .. 4%-5 1921-*?? *.1S I"
Union Pacific. 7 1924-'3* ? l? f.M
Un Tank Car.. T 1?S9 "
VtrsU?aji Ry.-- ? illl-*4?
t?i4

New-York tribune. [volume], December 28, 1921, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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New-York tribune. [volume], December 28, 1921, Page 14, Image 14
About New-York tribune. [volume] (New York [N.Y.]) 1866-1924