White, Weld & Co.
?
14 Wall Street
New York
111 Devonshire Street
Boston
137 Sooth La Sills Street
Ckiagm
Reiafeart&Bennet
Members N. Y. Stock Exchange
?2 Broadway New York
?Telephon- till Bno4
Public Utility
Investments
First Mortgage Bonds
Yielding 5%%
Preferred Stocks
Yielding 7%%
Send for Descriptions
The Turkish
Situation
and Bond Prices
A discussion showing the
possible effect on the bond
market by developments in
the Near East.
Copies to investors on re?
quest.
(Circular TR-5)
jrfCpONHELL&ffi>.
120 BROADWAY
NEW YORK
ifembsrr? .Veto York Stock Bxehanoa
BAN FRANCISCO LOS ANGELES
J.K.Rice,Jr.&Co.Buy&Sell
American Cyanamid
E. W. Bliss
McCall Corporation
Niles-Bement-Pond
Fidelity Ph?nix Ins. Sik. * Ris.
Gt. American Insurance
Roch. G. & El. 5% & 7% Pfd.
Royal Baking Powder
Old Dominion S. S.
Scovill Manufacturing
J.K.Rice, Jr.& Co.
Phons? 400? to 4010 John. S? Wall St.. N. Y.
?
Robinson & Co
Investment Securities
26 E-echar*. PUc New York
Memhen New Y?rk Stack Exchanga
BONDS
Investment Suggestions on request
DOMINICK & DOMINICK
ifamhara Fete York Stock Es?ha%ga.
115 Brcadwsy Telephone Rector 1391.
HoRNBLOWER & WEEKS
Eatabiitbe. 188S
tnmttment Securities
m?roM New von? Cmcaso
f*?oviDl*?et resTuiND. MS. BrrsoiT
ioosewlf & $m
FOUNDED 1?97
Seasoned Investments
30 Pine St. New York
HAYES WHEEL
Largest noanafactnrer of anto
?soobils wheels in iha world
Daacriptam Ctnxiar an raamt*
McCLURE, JONES & REED
lmtm??n ?trm Ttri t$tt? _>a-*_?av
m mmmtarm rhama mi tXaatm
Stock Prices
Irregular m
Active Market
General Trend, However,
I? Upward; Heavy Specu?
lation in Standard Oil
Issues Again a Feature
Interest in the financial markets
yesterday was confined mainly to the
movement of security quotations, al?
though strength in the foreign ex?
changes continued on a scale which
carried sterling up to the highest level
on the recovery for the week. Cable
rates on London closed at 42 1-4, a net
1 gain of half a cent, hut at one time
during the day were quoted as high
las 42,7-8.
The volume of trading on the Stock
| Exchange was the highest thus far
; this week, reaching a total -of 1,290,000
! shares, or 120,000 shares in excess of
! Wednesday's turnover. Although the
average of fifty selected stocks in?
dicated a continuation of the advanca
there was enough irregularity in tho
final sales to suggest that the rise
since Monday had? induced substantial
profit taking and short selling on the
part -of the more venturesome.
More uniform strength was shown
in the bond list, where dealings were
spread out over a large variety of
issues, although the net gains were
not as spectacular as in stocks. United
Kingdom 4 l-2s were among the strong
features, while the French 7 l-2s sold
up 2 points above the extreme low of
last week, when the" foreign news ex?
erted an unfavorable influence on all
foreign Government issues.
The movement of prices on the Stock
Exchange was again featured by heavy
speculation in the Standard Oil issues.
Whereas the advance in Standard Oil
of California seemed to have run its
course, following announcement of the
proposed declaration of a 100 per cent
stock dividend, Standard of New Jersey
rose to the new high record of 222 and
closed the ray with a net gain of
15 3-4 points. The Street is confident
in the belief that this company, along
with other members of tho Standard
Oil group, is planning a special dis?
tribution to shareholders, although no
Intimation has been given as to tho
form it will take.
A jump of 12 1-2 points tn Pierce
Oil preferred caused discomfiture
to a bulky short Interest and was be?
lieved to be connected with the an?
nouncement that two Important banking
interests have issued a call for proxies
for the purpose of electing directors.
Cotton moved up 87 to 45 points on
reports of small spot offerings, higher
Liverpool cables and bullish advices
from the South. Prices also displayed
firmness in the grain market, higher
Liverpool cables being a factor. The
close was 1-4 to 1 1-8 cents higher.
Money and Credit
Call money renewed yesterday at 4
per cent, but advanced later in the day
to 4% per cent. Time money was fair?
ly active, with three to six months'
loans being arranged for on a basis
of 4% per cent,
Yester- Year
Call rates: day. ago.
On industrial collateral. ,4 4H
On mixed collateral.4 AV3
Sixty days .4%(|>4-y? b\.
Ninety days [email protected]?^ 0u
Four months [email protected]*? 6%
Four to six months. .41,[email protected]% D%
Bank Clearings?Bank clearings at
New York yesterday were: Exchanges,
$763,000,000 balances, $73,000,000.
Sliver?-London, 35 l-4d; New York,
domestic bar, 99 l-4c; foreign, 69 3-8c5
Mexican dollars, E3c.
The Dollar in Foreign Exchange
Strength in foreign exchanges con?
tinued yesterday as a result of in?
creased demand in this market and ab?
sence of offerings abroad. Cable rates
on London worked up half a cent to
$4.42^4, but at one time during the day
the rates were quoted at $4.42%. Marks
lost a fraction, but lire worked higher.
EUROPE
Tester- Previous Year
day, day, aro.
GREAT BRITAIN (par $-4.86 a sovereign)
Demand . 4.42 4.41% 3.77%
tables . 4.42% 4.43.a" 8.77%
60-d bills (buy'g) 4.39% 4.39% 3.73%
90-cl bills (buy'g) 4.39 4.88% 8.72%
f RANCE (par 19.3 cents & franc)
Demand . 7.62 7.61% 7.1.2%
Cables . 7.62% 7.62 7.23
BELGIUM (par 19.3 cent? a franc)
Demand .,. 7.15 7.1B% 7.07%
Cables . 7.16% 7.16 7.08
SWITZERLAND (par 19.3 cents a franc)
Demand .38.70 18.70 17.72
Cables .18.71 18.71 17.74
ITALY (par 19.3 cents a lira)
Demand . 4.31 4.26% 3.99
Cables . 4.31% 4.20% 8.99%
HOLLAND (par 40.2 cents a florin)
Demand .38.74 38.78 3?.8S
Cables .88.79 38.83 S2.36
GERMANT (par 23.8 cents a mark)
Demand .04% .04% .82%
Cablea .04% .04% .82%
AUSTRIA (par 20.3 cents a crown)
Demand.0014 .0014 .06%
Cablea .0014 .0014 .06%
NORWAY (par 26.? cents a crown)
Demand .17.66 17.74 12.03
Cables .17.67 17.76 12.07
SWEDEN (par 26.8 cents a crown)
Demand .26.66 26.62 22.70
Cables .26.5? 26.64 22.75
DENMARK (par 26.8 cents a crown)
Demand .20.60 20.68 18.68
Cables .20.52 20.60 18.73
BPAIN (par 19.3 cent? a peseta)
Demand .1620 16.1? 13.14
Cablea .15.21 15.19 13.15
PORTUGAL (par 108.05 cents an escudo)
?Demand .4.15 4.15 9.87%
?Cables . 4.15 4.15 10.00
GREECE (par 19.3 cents a drachma)
?Demand .2.95 2.95 4.45
?Cables . 2.95 2.95 4.50
POLAND (par 23.8 cents a mark)
Demand .011 .011 .02
Cable!? .011 .011 .02
CZECHOSLOVAKIA tpar 20.3 cents a
crown)
Demand . 840 8.SO 1.10
Cables . 3.40 3.30 1.12
JUGO-8LAVIA (par 20.3 cents a crown)
Demand .87 .34% .43%
Cables ._ .87 .34% .44
RUMANIA (par 19.3 cents a leu)
Demand .61% .61% .91
Cables.61% .61% .92
FINLAND (par 19.3 cents a mark)
Demand . 2 26 2 25 1.65
Cables . 2.26 2.25 3.68
FAK EAST
CHINA (Shanghai par unsettled)
Demand .77.00 71.00 77.00
Cable? ....77.60 7150 77.60
CHINA (Hongkong par unsettled)
Demand .57.30 57.26 57.00
Cable? .57.50 67.40 57.25
JAPAN (par 49.8 cent? a yen)
Demand .4S.20 48.20 47.37%
Cables.48.25 48.25 47.60
INDIA (par 48.65 cent? a rupee)
Demand ...28.95 20.80 27.60
Cables .29 00 28-86 87.75
8TRAIT8 SETTLEMENTS (par 56.? cents
a dollar)
Demand .?1.7? 51.60 48.50
Cable? .62 00 6I?-6 44.00
THE AMERICA?
ARGENTINA (par 42.44 cents a paper peso)
Demand .36.80 35.65 32.75
Cables.86.85 85.60 S2.S7%
BRAZIL (par 32.45 cent? a paper mitr?is)
Demand .It-M ? 11.66 13.00
Cable? .11.70 11.70 13.12%
PERU (par $4.86 a pound)
Check? . 395 3.96 3.48
ECUADOR (par 48.60 cent? a. sucre)
Check? .22.22K 22.22 SMI
?O?*!?!'??* et? e*M twrnty)
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings
(Copyright, 1923, New York Tribune Inc.)
STOCKS
Day Year January 1 to date
Yesterday before ago ' 1922 1921 1920
Railroad ?tocks. 89,700 73,400 73,800 43,729,500 28.699.G00 40,165,000
Other stocks. 1,199,900 1,087.400 426,100 150,379,000 80.278.900 125,469,200
All stocks . 1,289,600 1,170,800 499,500 194,109,100 106,878,500 165,634,200
BONDS
? January 1 to date
Yesterday Day before? Year ?urn 1922 1921
O, S. gOTernment bon?!?. $2,799,000 $2,182,000 $6,784,000 $1,324,697,000 $1,396,859,000
Other bonds. 3,284,000 4,781,000 5,191,000 914.704.CO0 387,621,000
Railroad bond? . 6,270,000 B. 139,000 8,634,000 1,041,725,000 646,7<l3,00O
All bond? . 11,353,000 12,102,000 20.609,000 3,281,126,000 2.331,223,000
Record of Stock and Bond Averages
(Copyright. 1922. Nrw York Tribune Inc.)
Yester?
day
20 Railroad stock.? . 81.40
30 Industrial stocka . C0.17
50 Stocks . 91.50
10 Railroad bond? . 87.83
10 Industrial bonds_.... 93.51
5 Utility bond? . 91.18
25 Bonds . 90.77
STOCKS
Day
bfforc
81.25
97.30
90.92
Year
ngo
81.70
66,77
65.94
BONDS
87.70 75.43
93.46 83,34
91.18 76.32
90.70 78.82
From Jan. 1
io dale
Tl-srh
83.15
98.97
92?58
88.70
95.26
92.35
91.72
Low
63.65
73.87
69.30
80.86
86.56
80.65
83.03
Range full
year 1921
nisth Low
67.35 B7.40
79.13 60.30
73.38 61.02
High. Low. DIt
1922. 1922. ln$.
48 ?
io% ?
31% 3
45% 4
,9% -
Va
t?L _?
65i/8 4
37%
29%
61
82Tb
23
60%
64%
18%
2
91%
59%
42%
86
4o
88'/'a
6???
110%
193
125
30%
VA
145
17%
743/i
122
WA
60%
13'/i
403/4
60%
128% 102
1211/? 112
62% 44
113% 107
6
31%
61
32%
93%
141
US'/a
191/4
4%
126
12
68
78
72
33
9/4
29%
52
Sates. Open. High
Adam? Exp . 400
Adv Rutnely. 100
do pf . 300
Air Reduction . 3100
Ajax Rubber . 2100
Alaska Gold M. 300
Alaska Jun . 300
Al Chem & D., 2700
Allis-Chalnter* . 1300
Amer Agr? Chem .,. 400
Amer B 8ug pr. 100
Amer Bosch Mag ... 900
Amer Brk S F. 1900
Amer Can . 17600
128
8%
25'/8
67'/2
46%
1061/a
85%
112
70
82
3%
m
43%
30%
91
64/,
84
64
do pf._ 2CO 109! a 1093/4 109'/a IO9344
200 27
200 6'/a
200 143
100 14%
700 72 %
Amer Car & F'dy
do pf .
Amer Cotton OU
Amer Drug Synd
Amer Express ..
Amer Hide & L
do pf .
Amer Ice . 900 113! g
do pf . 500 90%
Amer Int Corp . 6400 37%
Amer-La France ... 100 12%
Amer Linseed . 900 38%
do pf. 300 58%
Amer Loco . 7100 127
do pf . 200 119
Amer Metal . 800 48%
do pf . 100 IO91 a
Amer Radi?t . 2700 127% 128
25 Amer Safety Razor. 1200 7 7
700 187% 188% 187% 188
150 122 122 122 122
27
6?/a
143
14%
72%
113/a
91
38%
12%
38%
58 i/a
47?4-f
'/4 47%
1091/2 109% 109i/a? 14 110
126 126I-4? VA 127
7 7 - 6%
128/4 ??4Ki
169% 129'/8
107% 96%
1653/4 126
28'/a
65%
93%
105
110%
37!/8
21
57
57
62
63%
86
135%
108!/2
06'/a
5%
124%
5!/2
43%
S1'/4
1250
22%
40%
140%
601/4
293
67%
66/4
39
1%
45%
-32%
10%
39
?9
?4%
122%
64%
139%
51%
100
8/4
35%
34
15'/a
86!/a
71%
11%
3
7
7
6
9
12
6
12
6 ?
17% ?
67 7
78'/4 7
102'/a 7
22% ?
12% ?
36 ??
47 ?
29 ?
43 4
75 6
99 6
81% 6
85 5
%
83 7
2 ?
1%
23'/3 ?
16%
900 20
13%
9}A
92%
33 %
264
40 ?
1934 ?
19!4 ?
Vz
30
69% 6
4% ?
19% ?
6% ?
6% ?
8
Amer Ship Com._10200
Amer Smelt. 3100
Amer Stool F'dy ...
do pf .,
Amer Sugar.
do pf .
Amer Tel & Cabio..
Amer Tel & Tel.
Amer Tobacco .....
do pf
48
111
128
7
21%
63%
45
106
81
HOI/4
64%
221/4 231/4 22'/s 23'/4+ VA 2VA
623,4 63% 623/4 63 + 1/4 63
3300 44% 45/4 4434 44%? |/4 4434
200 104/8* IO434 104% 104%+ U 104
fOO 81'/a 8114 81 81%+ f/4 80%
100 109% 109/a 109% 109%? i/4 109
100 6334 63% 63% 63%? 1 62
S000 124% 123% 124% 124%+ % 124% 124%
400 164% 164% 183 163 ? 1 163 163%
100 106% IO6?/4 106/4 108% + /4 105/* 106/a
do B . 2100 160% 161% 169% 16934? %, 158 160
Amer Water Wks... 4100 25 28/2 25 27%+ 2% 27% 28 .
do pf_. ?4400 62 66% 51/? 65+3 64 6434
do 7% pf . 400 0134 9134 9134 91%+ /4 91/2 92
Amer Wool . 9100 10Q 101% 100 100%+ 1/8 100% 101
do pf . 200 100% 109% 109% 109%?
Amer Writ Paper... 200
Amer Zinc & Lead.. 900
do pf . 100
Anaconda . 3100
Ann Arbor pf . 100
Aaso Dry Good? .... 4700
do 1st pf . 200
AS8OC Oil . 1200 124% 126/4 124
AtchUon . 2000 105% 106
do pf . 1400 93/4 93/a
AU, Birm & Atl....
Atlantic Coast Line.
Atlantic Fruit .
do ctfs .
Atl, Gulf ?St West Ind
do pf .
Atlantic Refining....
Atlas Tack .
100 2% 2%
1200 121% 122
200 1% 2
100 1% 1%
1700 31% 32
200 22 22/4
69 1230 1250
900
105%
92%
2%
120%
1%
1%
30%
22
1260
34%
20
55
53%
46%
62%
87
?24 ? 1/a 123 126
108 + % 105% 106
93 - 92/4 93/4
2%- 2/4
120%? 1/4 120
1%? /a 2
/a 1%
1% 30
1%+
3034?
22 % + 1% 21/
1246 +21 1235
7
7
12
20 20% 19% 20 +
Austin NichoU. 1200 37% 37/2 363/4 363,4?
Baldwin Locomotive. 1590O 137'/4 138% 136% 138% +
5600 56
0 290
61
Baltimore & Ohio. .
Bank of Commerce.
Barn et Leather . 1600
Barnsdall Corp A_ 14300
do B .
Batopilas Mining....
48 Beech-Nut Packing.
Bethlehem Steel B. ..
Booth Fisheries.
British Emp Stl 2d pf
Brooklyn Rapid Trans
do ctfs .
Brooklyn Union Gas.
Brown Shoe .
Burns Bros A.
do B .
Bosh Torrn Bldg pf..
Butte Copper & Zino
Butt? ft Sup Copper.
Butterick .
19%
36%
138
56
290
61
37?%
26
70
42 ?
116 8
28?4 2
87% 7
6/4 ?
2034 ?
18 ?
10 ?? ?Caddo Oil . 1200
68 8
43% ?
5'/4
151% 119% 10
44%
8234
41%
53%
79/4
79
293/? ?
63% ?
3234 ?
84
4734
54
105% 104%
1234 1%
4
6
4
6%
Calif Packing .
Calif Petrol .
Cal Lead & Zinc_
Canadian Pacific ..,
Central Leather
do pf.
Cerro de Pasco.
Certainteed .
Chandler Motors ....
Chesapeake ft Ohio..
20%
4334
64%
10%
24%
363/a
65
95%
125
89%
50
93%
105
27
33%
80%
79%
37
114%
53/a
64
534
21
793/4
4234
8134
47
50
14534
15%
92
9334
121
120%
53/4
102%
1%
98%
100
1934
41%
28
98
65%
24%
1
3% ?
12/4 ?
31% ?
4% ?
11% ?
16%
29 ?
59 6
100 7
59 4
3034 ?
70% 6
83% 7
15% -~
2534 ?
64 4
41 4
24 ?
6434 6
38 3
53 4
1% ?
1000
200
1100
100
6900
900
4
65%
18%
47
44% ?
49 4
83 8
9 ?
45% ?
66 6
91% 4
111 7
31% 4
93% 7
62?4 ?
80 7
8% ?
15% ?
14% ?
78/a 7
43 ?
15% ?
9
6
8
2
8
do pf . 1600 105/s
Chic ft Alton. 1200
do pf . 000
Chic & East Illinois. 2100
do pf . 900
Chic Gt Western. 400
do pf . 400
Chic, Mil & St P_ 2000
do pf . 2400
Chic & Northwestn.. 1200
do pf . 200 122% 122% 122% 122/2+ 1% 1
Chic Pneu Tool. 100 83 83 83
Chic, Rock Isl ft Pac 4800 45 45% 4434
do 6% pf. 1100 92% 83 92/2
do 7% Pf. 1600 100% 100% 100
Chile Copper . 1'4200
Chino Copper. 1500
C, ?, C & St L. 100
Coca-Cola . 27100
Colorado Fuel & Iron
Columbia Gas ft Elec
Colorado ft Southern
do 1st pf.
Columbia Grapho ...
do pf.
Comp Tab Record. ..
Consol Cigar .
do pf .
Com m Solv B.
do A .
Consol Gas . 3900 1393/4 139% 138% ^39 ? %
Consol Textile . 8700 10 11% 10 11+1
Continental Can _ 4600 8934 90% 88% 90 ? %
Continental Ins ._ 100 90% 90% 90% 90%? %
?Corn Products .)_ 3900 120% 120% 118% 11934? 1% 119
do pf . 100 120% 120% 120% 120/8+ 1% 120
2%
122
2%
1%
31
22
1265
20%
37
138%
56/4
292
65
38/4
2634
%
45/4
76%
9
33%
24 %
20%
117
62%
135%
48%
102
7%
34%
21%
11%
85%
65%
9%
148
41%
80%
40
48
6334
74%
IO5/4 1053a
3/4
6
41%
62%
7
15
33
50%
93
123
83
45
93
101
26%
29%
80
79%
34
111
51
63
3/4
13
7334
41
82
46%
Cosden & Co. 650O 49%
do pf . 200 100
do rights . 4900
Crucible Steel . 4800
do pf . 100
Cuba Cane Sugar..,. 1000
do pf . 2100
Cuban-Amer Sugar.. 1700
do pf . 300
Davison Chem. 1600
1%
85%
493;
100
134
1% 106%
143 110%
113% 100%
39% 18%
156% ?115
88%
67%
89%
18%
28%
20%
2034
107
107%
6234
127%
103%
19%
?6%
71
103
73%
111
83
18E
15%
86
86
100 .
8/4
44%
?91
35
197?
?6%
45%
14%
94%
70
40%
76%
7
11%
7%
14
75%
91%
37
75
76%
11%
12%
45%
96%
65%
90
65
136
8%
69
67% 6
79% 7
6% ?
32% ?
80% 7
25 ?
11% ?
70/4 7
31% 4
6% ?
44% ?
De Be-ers Co-....
Delaware & Hudson.
Del, Lack ft West...
Detroit Edison.
Dome Mines .
Du Pont de Nemours
Eastman Kodak.
El?c Storage Battery.
Endlcott-Johnson.
Erie.
do 1st pf.
do 2d pf.
Fairbanks.
Famous Player?-Laaky
14%
37%
24%
97
49%
22%
'/a
103
2834
? ?
80%
15
96
1434
38
24%
97%
4934
23
200 136% 136% 136% 136%?
4600 140% 141% 139 140 +
400 114% 114% 113/a 113% +
4100 38 38% 3734 38%+
200 151 154% 151 154% +
86%
56%
85%
ie
2534
19%
18%
99%
5200
3500
800
1700
2100
1200
700
2300
85%
66
85%
16%
25%
19
18%
99%
do pf . 300 103% 104% 103!
Fed Min & Smelt pf. 200 61
Fisher Body ...._ 700 125
Fisher Body Ohio pf. 100 94%
Fisk Rubber Tire.... 700 13/:
Freeport-Texaa. 8400 23?/8
Gen Amer Tank. 600 67%
do pf . 100 102% 102% 102% 102/
Gen Asphalt ....... 7200 64
do pf . 100 96%
Gen Cigar . 300 79%
Gen Electric. ?400 180
Gen Motors. ?1000
do pf. 100
do 6% deb. 20O
do 7% deb. 100
Goldwyn Picture?- 15100
Goodrich, B F. 1200
do pf . 300
Granby Mining . 700
Gray ft Davis. 1200
Great Northern pf.. 1300
Gt Northern Ore subs 1900
Guantanamo Sugar.,
Gulf State? Steel_
Habirshaw Electric..
Hartman Corp .
Hendee .
High. Low. DIt. j??.
1922. 1922. in |. Bale?,. Open, ?llgb. Low. Close. chge. Bid. As*.
86i/2 70 ? Houston Oil . 7200 8574 86'/8 84/4 847-4+ Va, 84/2 85
24 19>/_ 2 Hudson Motors. 7400 21% 2174 21% 21%+ Va 21% 2174
23% 1074 1 Hupp Motors . 1200 23 23 227s 2274? Va 22%* 2274
115% 97?/_ 7 Illinois Central . 200 115 1l5/8 115 116?/?+- '/a 115 115'/4
115% 105% 6 do pf . 100 115/2 115/2 1l6/2 115/a+ %114%115/a
5 31/4 ? Indlnhoma RefinIns. . 1700 4% 4% 4% 4%? /. 4/a 4%
11% 6% ?? Indian Refining. 200 83/4 8% 8% 8%? '/4 8% 9/4
45 37/_? Inspiration Copper.. 1900 40/8 40/8 40 40 ? /4 393/4 40/4
6 1 ? Interboro Consol. 300 1% 13. 1/4 1%- 1'/4 1%
12% 31/4 ? ?lo pf . 4100 3% 3% 3'/4 3/4? l/a 3/8 3/4
32/4 28/2 ? Interboro Rap Tr w I 700 29 29 29 29 ? Vz 28% 29
38% 26 2/_ Int Cornent . 300 32/4 33 32/4 33 + 1/4 32/a 33
3?/a 20/a 2 Int Combustion - 9200 29/8 30 29/8 29%+ % 29/8 29%
26% 22'/8 ?? Int Gt Northern- 200 23% 23% 23% 2S%+ % 2374 25
1157a 79% 5 Int Hnrv Co . 700 112 112/.112 112/a + 1/a 110 112/8
119 105/a 7 do pf . 100 118?% 1187.? 118% 118%? Va 118 119
27/a 13 ? Int Merc Marino ... 2900 15>8 16 15/8 1574+ % 1574 16
87% 63'/a 6 do pf .22200 6li/2 64% 61/4 64/2+ 3/8 64i/4 64'/,
19% 11/4 ? Int Nickel . 600 17% 17% 17 17 - 17 17/8
61% 43/a ? Int Pnpcr . 3.00 53',_ 59% 58/2 59%+ 1% 69 69/4
2O/4 12/a ? Invincible Oil . 24CO 16/4 16/_ 16 I6/4? Va I6/4 16/2
60 24 ? Iron Product . 7600 477_. 4834 47/2 483/4 + 1 48% 48%
3 %? Island Oil . 2600 34 % % %+ /B % %
22/a 10 ? Jewell Tea . 20O I934 19% 19 19 ? 1'/4 19 20
533/4 34/a 4 Jones Tea . 400 4974 4974 49/2 49/2? Va 49 49%
30/4 22 ? Kan City Sou. 100 24 24 24 24 - 23% 24/2
59/a 6234 4 do pf . 400 58 58 68 68 + % 67 59
7'/a 37_ ? Knn Gulf Co . 1700 4 4/8 374 4 ? Va, '??Va 4
48% 34 ? Kayser J new . 2200 46% 47 46% 46%? ?/?_ 46/2 4634
63% 341/4? Kelly-Springfield - 44CO 44% 44% 43/2 43/_? % 43% 44
86 71/a 6 do pf . 100 85 85 85 85+2 85 90
111 61 6 Kelsey Wheel . 300 100 1,02 1C0 102 +2 99 103
39% 25'/a ? Kcnnecott Copper . . . 1800 35% 3534 35'/4 35%? '/4 35/4 35/2
24% 7/4 ? Keystono Tiro . 1500 7% 8/a 774 774- 774 ?
189 110 7 Kresge S S. 200 187?._ 187/2 187/2 187/2? 1/4 184% 136
83 44 ? Lackawonna 8teel... 100 81 81 81 81 ? /4 81 82
35/a 2434 2 Lee Rubber & T- 200 26/2 26/a 26/4 26/4? Va, 25'/2 26/2
72 56% 8/e Lehigh Valley . 1200 6874 69 67% 67%? 1/4 68 63/2
63% 62% 3/a Lima Loco . 4300 61 62 61 6174+ % 61% 62
23% 11 ? LoeVs Inc . 6300 21% 22 21% 21%- 213/8 21/2
14/4 9 1 Loft Candy . 20O 12% 1274 12% 1234? /? 12/a 12%
677. 86 ? Loose Wiles Bis .... 600 63/4 64% 63?4 64%- 64/a 65
6174 25/a ? Mack Truck . 1800 58% 59/2 68% 69' + Va 59/8 59/2
94% 68/a 7 do 1st pf . 300 93 93 93 93 + /8 92% 93
69 57 4 Mockay pf . 200 69 69 69 69 - 68% 69
S534 32/a ? Magma Copper . 300 34'/4 34/a 34'4 34'/_+ >/a 34% 34/2
40 15/2 ? Mallinson . 3100 36 36% 35% 36 ? Va, 3534 36
62 30V4 ? Manati Sur . 600 42 43 42 43 ? 74 41% 44
6934 44 4 Manhat Elcc . 4C0 58% 58% 68/a 58%+ 1/4 57/4 53
58 35 7 Manhat Gunr . 100 54 54 54 54- 53/2 54
66/a 44 ? do ctfs . 400 53/2 53/z 52 52?1 62 53
43/_ 32 2 Manhat Shirt . 1CO0 43 43/8 42/2 42/2- 36 43
5O/4 17 ? Mar St Ry pf . 100 41/8 41/a 41/8 41/8- 36 43
69 35 6 do prior pf . 600 69 69 68 6834-j- 1?/8 66% 69
32 5% ? do 2d pf . 1gOO 24 25% 24 25 + '/_ 22 25
46% 22% 4 Marland Oil . 6200 40 41 40 40 - 3874 40'/4
26/2 B'/a ? Marl Rockw . 200 17/4 17/4 17 17 ? 1/2 16 18
36I/4 20(/_ 2 Mart Parry . 300 31 31/8 31 31 ? % 31 31?/_
60/a 22 ? Math Alk Works- 1800 4834 60 4834 50 +. 1? 49% 50
74?4 46/4 ? Max Motors A . 300 58/2 58/2 5734 5734+ /a 57/4 ?9%
257a 11 ? do B . 110O 18/2 19 IS/j 18/2 + /a 18/4 18/a
138% 101 8 May Dcpt Stores.... 9C0 13834 1383/4 13734 13734- 137% 138
21% 13/2 1 Mclntyre Min . 1700 18/? 18/4 1734 18/4+ /4 18'/4 18/2
204/a 10634 12 Mex Petroleum . 5450O 184 189/4 184 18434+ 1% 184/a 1S434
34/a 18/a 6. Max Seaboard Oil... 5C800 19/_ 19?/2 14i/2 16 ?3% 16 19%
f2;'" 16 6 do ctfs . 13500 16/2 16/2 12' 1374?2% 16/a 16%
31% 25% 2 Miami Con Copper.. 200 29 ? 29 28% 28%-- 28% 29/8
16 11% 1.20 Middle States Oil.... 6200 13% 13% 13/2 13%? /8 13/2 13s.-,
4o/3 27/8 ? Midvalo Steel. 69C0 34% 34% 34 34'/8? % 34 34/4!
iM ?L ~" Minn & St Loui3'" 200 8% 8% 8% 83/4? i/_ 8/a 87a1
liS olY? ~ M1fou,'l? K & T new 1400 18/8 13% 18/8 18'/4+ Va I8/4 18% I
IVf ?r2~ ?;f? vf, nDcw;_. 60? 45^? 45-'* 45l/-- 45%+ % 46'/4 45% i
??-*4 IS,, ~" ML,sourl Paclnc. 17C0 2134 22 21/2 2134? 14 21% 21% j
ritt II * m ,pf ??. 60? 59'A 59% m/* M,*+ Y* 59^ ?*>
l*? ?o Montana Power. 300 73 73 73 73 ?1% 73 74/2
17?/4 \\ "7 Montgomery Ward... 42C0 22% 22% 22% 22/_- /8 16% 17
i?"/a '3 1 Moon Motors . 3400 17/4 173^ ig3/4 17 _ y 1637 17
113/4 10/4 /a Mother Lode Mining. 700 10% 1074 10% 10%- 10/2 10%
203 l2Ll ?? ? ? -I?1' . 1C? 20Va 20'/o 20,/? 2?'/8+ 1 18 21
667/ fJM 7 v I r,"^lm 'a!. 310O 192 203 189% 202 +11 201 202
$ \ ~ Nat Cloak* Suit;... 300 69% 60 59/4 60 + /2 60 61
4/8 1 ? Nat Conduit & Cable 100 1% 1% \ll 1%__. 13/ 17/
11o'k lf? 1 Va? rnT & StnmP- 62C? 65>/a 65% 64-^ 64-^- WA 64%
0/4 8^ 6 ? Nat Lead . 2800 107 109/2 107 107-/4+ 1/4 107 107/4
71/ e XT ? Pt . 100 117 117 117 117 +1 116 117
1.1/ 1_./~ N.tKR.fMe_'2dpf 1600 4 4 4 4 + % 4 4/a
8^7? l&l ^?i* Con Copper. . 800 16% 16% 16% 16%+ % 16% 167/|
4?% 35/al ?eZ?Arl'nel&MtI 32?? 8,,/? 82,/^ SV<* 82^4+ 1/? 82 * 82/_
1^8 IT& I S?cchttkViao-_; ?S2 ?fi ^ ^ *73<?~ 8 Tm TiVz
. ^^StLouU 1100 87 89% 87 ^ ?. ^
68/a 53/8 _/2Nd;p?0Ck:;::. Z 11 Til I7*tv& S1 %v/*
? ?i fstV?t ? h b b ir * h a
125/a 96/4 7 Norfolk & Western 1200 1211/ 121 * S ^/?r7~,, 25'/z 2*V*
4% 2/4- Oklahonfa Products.': l?oO 2% 2? 1^ 1^~ ^ 10,/* 11
2?? 1f!f- 0rpheum Circu,t. ?300 27% 28 26V ?%-? _!# 2^
16/a 9% ? Otis Steel . 900 107/ ?L ?S^ *f?~ ? 26^ 27
42% 24% 2 Owens Bottling , 18S ?? ?5* _?,/? 1?^~ K8 10J/* 11
^^l.Ss??5>?T^8i'3?
12 5/a_ Panhandle :. 3JS L ??f4 ?4 74''i+ ^ ?4 75
49/4 33/4 2 Pennsylvania RE::: 33S 48% 4..? J'8 JS_T % 6,/a 7
11 8 693/ ". ^enn, Scaboard 8t-?' 38M 6^ 1?_ T8 1/S-,/ 4!% 48!/*
% Ui ?AV^r?ke: S _5 s* S ^Tl^ 9^ ?
74% 60/8 6 doprf .'i. }g 77> 78 77% 78 + ./, 7?/2 g9*
45% 31/a 3 Philadelphia ?o So l??? li, lZ% 74 + Y* ?/z 74/2
69/4 28-/4 2 Phillips Petrol '"' 7^ ff4 ?& fo% 43%~ % 43/_ 44 2
24% 8 - Plcrce Arrow . IJ_J ?,t* ?4 5!K" G3^+ % B3 B3/8
49 187b? do nf . ;,X2 14/4 15 14^4 1434+ 5^ 14?v4 1%?
12 5%?_ pietepoi?;::::::::: .SS Ta T3 3^2 35,;a+ * 35^ ?S
71 32 _ dopf ... . 54X2 .f* 7/a 6 7/8+11/4 7% 7/t
72% 6734- Pittsburgh Coa! 3300 ?1 _4r/ j2K2 43 ~'% 43 43/2
41% 23 - Pitts &W Va . __J ??> .2^4 f^4 60l/4~ ^ 60/4 61
24% 14/4 1/a Pond Creek C__ S S? 39^? fn7/ ?%+ '/4 39'4 39/a
112 66/a B Postum Cereal .. aSi??L'A^ 207/?- ^ 20/2 20%
111/a 105/a 8 do pf .] " 3JS_ /+ 1S_> /4 115!/s!+ ^ 115 115/
?f4 L3,, - P"?ed Steel ?ar;: ?J. J "^ 1_ 1?] + ^ 111 Itl^
51 24/8 ? Prod & Rcfg. I7inn __,/ ?l? 91 91 + 1 ?0/* 915?
49 36 7 do pf ..! i:'"-- 17S? 48^ 49'/2 ?'/* 48/a+ % 48/a 48%
98% 66 6 PubSerCorpofNj" 3600 or3, oL 4? 47 + 3 44 47
s_ ai ?*i_*.?-?' Lv B ?-%? tu ai
19 13/a- Ray con Copper* 12.. fr,/ 15__ ^4 1?2/4~ ^ 122 1227/a
83 71/a 4 Reading... ?00 l?/z 11% ?/z 15%+ Vz 15/4 15%
S? 60 - Rem'ton Type 2?-pf: 3 0? \\ 1^ "H 78%+ /4.78g ??
4L, 25''/2-- R?PlogIe Steel . 29400 ?1/ I? 2.y I- ~" 7 72 80/4
78% 46/4 _ Republic Iron & Stee 6lon l?Y? !L 33/? 36 + 2'/a 3534 36
14/a 2 - Republic Truck .. To. 2^ ^ T<8 68'/2+ % B8/_ 59
51 24/2_ Reynold?. Spring. 200 o?^l o?^? 2/4 2V*~- V* *A 2%
68% 43 3 Reynolds Tob B.:;.- 2lS. 29 g? g,^ g^.lj? 24/* _Ig
67 47-?4 3.88 Royal Dutch ... * 4__q S^ ^8 _ffe4 66/a- M/a ? 66%
20/4 12% 1 St Joseph Lead. S S9 g* ?fj> 58-/*+ !4 58/2 6834
32% 20%- St Louis & S_n Fran ?SS S? _../8 Il t? l???+ V? ^ 1?H
56 36 ? do pf JVt *"2S '?9/2 28% 28%? % 28/2 291/,
33 20.2_ St Louis Southw'estn 11W S^ %$ ?& B0^+ ? ? ?^
64/a 32%- dopf ....." 2JJJ 33, 3^? 32/4 323/4- ,/, 32!/ 32y
6'/4 1/a- Santa Cecilia Sugar'.' sS ^ 64^ 53 *,;+ 34 63 63/*
8/4 1/s- Saxon Motors .. 2?._ f4 !''4 _?4 f/4-? 3/, 3/.
15 3/2 - Seaboard Air Line pf 400 11 ?,, ,1% ,1%~ ^ 4% 4%
94% 59% _ Sears, Roebuck ... 26oS 9 ?. o?? o _ *+ ^ 11 ?K
23/4 9%- Seneca Copper ... .1006 10 ^4 ?l 91 ~ % 90H ?l'/?
12 V/2- Shattuck Aruon? ' S? % 1?> ? 1?^+ ? ?% 10^
48/a 35% ,83^_ She? Tr & Tr... . 20o 701/ ?a,^4 ,9K4 *^+ i7? 9/4 *(/,
38% 18% 2 Sinclair Consol 879S K* g& ^_4 3_K4+1^ 38'^ ?g7'
Ijfi 97% 8 ipf . .200 983/ -_o/a ??& 36^+ 1% 36/8 36/4
11% 0!/.- SkellyOil . 8oS ?ff ??? !? > ?,, + ? ?? 99/?
95% 78/a 6 Soulhern Pae ... 2500 ?19 119 21H1 11i/g- ?J4 11%
28% 17?/. - Southern R R 2oS 26^ lai? !?/4 l*V*- 94 ~
64% 45%- dopf . 25S v f4',8 2L ^'/*'+ H. 26 26/4
57/4 43 - So PR Su.... ?S II ??'* !?% 5? +1 633/* ??
24 17 _ Spicer Mfg .... ?00 ?L _,L f_L !8 + 1 46 49
96 83/4 6 Stan Mill pf . gj 2f/4 2?% g% 2?%+ ?/. 20/8 21
135 91% 4 Stand Oil Cal .39 00 133-/ 1?L ?L ,o!?+ ^ 943/* 95
222 169 6 Stand Ol? N J. 5.8^ 2^ o^8 o?f/4 ^2^ H 131^4 131%
11S/4 113% 7 dopf . 2C0 117I/ ??f./ ??L 221 +1B%220/a221
M 45/. 3 Sterling Prod . 10S 66 3 1B^ "?t% 1_^4~ H 116/a 117/.
52% 24^8 3 Stewart Warner . ?S _L __9 ^ rlVt+ Y* 6V/* 67^
59% 35/4 4 Str?mberg Carb ... .0. MM. Il? ll% ???~ V* W* ' **V$
139/a 79/. 10 Studebaker 77200 12QV ?iA Mn* ?*A+ V* W* M/a
8% 3% _ submarine _te_l "S? 67? 7U 12^ 13?^+ 4% 133% ?3%
10/4 4%- Super OU . 300 VU V& 29 ?^8? 6H 7
6 2 - Sweets C* ......... .r? 2l_ ??. l?? y?" V* 8,/* ?^
12% 9%_ TennC&? ; 3?. }> *% 24> 2^+ g 2/4 2/2
50/a 42 3 Texas Corn . 2960O Ik IL ?!_f 9T/s~ % 8% 10
61/. 38/a 4 Texas Gulf I7100 r?8 l!f? _8'4 !9 + W 48% 49
36 24 - Tex&pac .::::::? 17?S _2 VA ? .?'/?+ly*60 ?o%
32% 23 1 TexPacC&o ?^ la S? fi? 3?%f ^ ?% 30%
25% 14 - Third Av. . ?? %% ^ ?M ?? + H 25% g
(Centlnued on pas? twenty)
In Wall Street
Pierce Oil Shorts Sqae-ez?*.
The short interest in Pierce Oil pre?
ferred got n bad licking yesterday
when the stock ran up to a high of
64, compared with Wednesday's last
sale of 41. The stock has been a target
for the bears for several weeks past,
and only early this week had a sinking
spell to 32. The reason for yesterday's
spectacular advance was found in the
announcement that new interests have
been added to the board and that
Henry L. Doherty & Co. have agreed
to "undertake the prrteurement-<*f suffi?
cient banking credit for the corpora?
tion to enable it to function -without
embarrassment." The same -interest.3
have agreed to provide crudo oil
supplies and other products required
in the operation of the company's busi?
ness. Other Interests, however, prom?
ise to contest the election of the new
board.
Traders Fight Market
This week's rise in stocks has not
proved at all profitable to the majority
of traders, according to observers on
tho floor, who state that professionals
have been fighting the advance. In?
stead of playing along with the upward
trend, it is said that many operators
have persistently sold the market
short in the face of the favorable trend
of events in the Near East and bullish
sentiment created by the proposed
d?claration of a 100 per cent stock
dividend by Standard Oil of California
and the belief that others members of !
the Standard Oil group will soon an
nounce special distributions to stock
holder?,
"Well Informed" on Standard Oils
There was a time when the rank and
file in Wall Street was willing to ad?
mit that it knew absolutely nothing
about the plans of Standard Oil inter?
ests. General recognition was given to
the fact that there was no such thing
as a "well informed quarter," except
in the inner circles, and in these ex?
cessive conversations were at a pre?
mium. Only the other day some out
j siders claimed to have broken into this
inner circle of exclusiveness. They
! thought a clear case, had been made for
'a big stock dividend for Standard Oil
of New York. The Information was
"accurate" down to such details as the
time for mailing this dividend notice.
Every one who follows the market
knows how this development failed to
materialize arid how tho stock fell off
sharply the next morning. Undoubted?
ly some of tho same outsiders have
gone ahead boring in for more infor?
mation, and they now believe they know
what is going to happen to Standard
Oil of Indiana. After the New York
incident California Standard Oil de?
clared its 100 per cent dividend, but
the outsiders did not know about that
development. The wise heads in broker?
age houses admit npw that the walls
built up around Standard Oil directors'
rooms are just as high and impreg?
nable as they ever were.
Atlantic Refining and Mexico.
The Atlantic Refining Company, one
of the important members of the
Standard Oil group, was reported yes?
terday to be abandoning operations
in the southern light oil fields of Mex?
ico. This action is believed to be due
to the serious falling off of produc?
tion and the failure of new drilling
operations to meet expectations. The ?
Standard Oil Company of New Jersey
recently withdrew from the same fields
for similar reasons. Both companies
are understood to have lost heavily
there and their action coincides with
the recently announced belief of the
New Jersey company that investment
of additional capital in Mexico at this
time is not advisable. In a recent !
issue of "The Lamp," official Standard
of New Jersey organ, the opinion was :
expressed that not half of the $500,
000,000 invested in Mexico will ever
be returned to the operators.
Congestion at N. Y. Terminals.
Officials of he railroads reaching the
anthracite fields are much disturbed
over the congestion at their ter?
minals in New York Harbor due to the
accumulation of the steam sizes of an- I
thracite, and urgent appeals have been
made to the Fuel Administrator for
some action leading to relief. With
apartment houses and many industries
burning bituminous coal, and with oth?
ers looking about for coal substitutes, |
there are several thousand cars of
buckwheat, rice and barley coal in the
railroad yards on the Jersey side of
the Hudson. Railroad men contend
that if the public can be brought to
understand that all this coal is avail?
able the accumulation can be quickly
worked off, resulting in an increased
movement of all kinds of anthracite
as well as greater general production.
S. S. Kresge to Redeem Notes.
The S. S. Kresge Company announced
yesterday that it will redeem on Janu?
ary 1 next all of its outstanding 7
per cent serial notes, due January 1,
1923 to 1926 inclusive. They are part
of an issue of $3,000,000 originally of?
fered in July, 1920. The company ex?
pects to have 212 stores in oneration
by the end of this year.
Regular U. S. Rubber Dividend.
Announcement was made well after
the close of the stock market yesterday i
that directors of the United States :
Rubber Company had declared the '?
regular quarterly dividend of $2 a
share on the first preferred stock. A
few weeks ago rumors were current
that unfavorable action would be tak?
en and traders attempted to depress
the price of the issue. It quickly ral?
lied, however, as the report that the
dividend would be passed was not gen?
erally credited.
What's Behind
Active Stocks?
? 16?Carro de Pasco Copper
The Cerro de Pasco Copper Cor?
poration in Its present form dates
back only to 1915, but the companies
whose stock it owns have long been
established in the Peruvian copper
fields. It is essentially a. holding
corporation, owning and operating
through subsidiaries a large acre?
age of some of the most productive
copper land in Peru. Properties,
plant and equipment are carried in
the balance sheet at $33,255,000 As
of December 31, 1921, current as?
sets exceeded current liabilities by
?.AA' ^he a8sets including
$3,559,000 cash and $500,000 United
States government obligations. The
company is capitalized for 1,240,000
shares of stock of no par value,
898,229 shares of which are out?
standing. The funded debt consists
entirely of $7,997,000 8 per cent
bonds, convertible into stock at the
rate of thirty shares for $1,000 face
value of bonds. At the end of 1921
the net tangible assets, including
the equity of stockholders in owned
properties, amounted to $38,728,000,
or $43.11 a share on the stock. In
each year of the period 1917-'21
dividends paid were in excess of ac?
tual earnings, and as a result there
was a profit and loss surplus of only
$40,336 at the beginning of 1922.
An aggregate of $33.25 a share was
paid in dividends from 1916 to 1921,
the last payment coming on ?March
1, 1921. Recently there has been
a substantial increase in the pro?
duction of copper. In the first
seven months of 1922 the company
produced 87,832,000 pounds, an in?
crease of 6,856,000 pounds compared
with the same period of 1922 and
the largest since 1918. Range of
stock since 1917: High, 67%, in
1919; low, 23, in 1921; yesterday's
close, 40.
From
the 20-yr. first Wu^?^?S?*
Stevens & Thompsoa
Paper Company
I*)*** .11 the feattrr? desired h.
those interested m gound inv*7
ment. avt*>
These bords am
Well secured
Marketable
Notvoallable for 10 yt^
?tndarethe obligation ofa ^
ptUp that is ""*
Well man ri*,-!
50-rr. earnings record
An ?essential Industry
We recoTiunend thtse bond, .
Investment and tre offering ti?
at a price to yield over
6.45%
Write for descriptive dradv
A
P. W. CHAPMAN eCQJNC
Of?
5S
115 Broadway 116 So. LaSifie fc
New York Chicif*
??tfibuahed 186f:
.--~-'*
RAILROAD
Equipment Trust Note i
(subordinated/
Chesapeake & Ohio
Chicago, Rock Island
& Pacific
Southern Railway
Th*se notes ?ri s. direct
obligation of the sev?r?l
roads and In .?'I'litionar.?
ade<juately secured by
liens on :ocomntlv>?s ?ntl
?rel??ht cars.
MATCRITIES
1924 to 1935
YIELDS
from 5.00 % to 3.759?
Full dt-talls on rerju?:?
Hambleton&Ca
43 l^tchar^e PlaccNcwYoA
ThZUdeljAasx BALTLMORX Wa-abijr?
American Chicle, Pie
? Am. Lt. & Trac. Stic. & Wir. j
f\ Borden's Co., Com.
Geo. W.Helme
3k MacAndrews & Forbes Co.
Jj Mengel Co.
J Bel! Tel. of Can. 5s, 1925
P Bell Tel. of Can. 7s, 1925
($ Canadian Lt. & P. 5s, 1949
d Cedar R. P. & Mfg. 5s, l?jjj
Dom. of Canada 5s. 1937 f
?J, Privat? irirei to
??J CHICAGO MONTREAL TOROSW '.)
BRANCH OFFICE, DALLAS, m.1
I
^5 bsowst h" jT <l|0 ? L
rliNOV!? T4MV l|lt
NV. STOCK DCC HAHil V j f?
Y. COTTON EACHASOJ
??s=?D-s=^. ?asis-ogMH
Slow
bat
Sure
Hotnj Title 5 }? % Guaranteed
First Mortgages on improved
real estate do not offer an ab?
normally high yield
but
they do offer a safe and sonr.d
investment with a guaranteed
income of 5.' i %
For full details send fee
descriptive booklet R. Its
HOME TITLE
INSURANCE COMBW
Capitel and Surplus Over $i,!?a>??0
51 Willoughby Strect,Btooklya
Bank of Manhattan Bulliii* I??*-**
J.K.Rice,Jr.&Co.WinSeB]
Kings Co. Ltg. U
&% Cum. Preferred
Circular on Application |
J.K.mce, Jr.&Co.,
SS Wall M-g-l 1
Thone? 4000 to 403" John
City of Elmir?
1942-48
To Yield 3.95%
06ILBY &
141 BROADWAY. NEWVOM
Telephone Rector -102
| HERCULES POWDER
(All l??ue?)
Bought. Sold ?f Quoted
C. C- Kerr & Co.
? 2 R?to' St.,N.Y. wiwwgjas
AN INVESTOR'S CATECHS*
Contain? 63 Investment t?ue^In''.:"}j??
answers. Free to those w, ^ti*.
from $100 to ?UOO.QOO to Saves?? ?
Ask tor B-l.
Lawyers Mortgage Co?
56 Nassau St.. IS* Mor-tafuo 5*.. ?^
mcmjmw ..v.'" " "umm ?jumv