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The Sun and the New York herald. [volume] (New York [N.Y.]) 1920-1920, February 17, 1920, Image 14

Image and text provided by The New York Public Library, Astor, Lenox and Tilden Foundation

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030273/1920-02-17/ed-1/seq-14/

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i
Maury '"
i Auchinclosi jh
1 1
7 -A
; . Bonds 1 1
', Cotton
Grain
1 1
I
Membert I
N. Y. Stick Exchange
N. Y. Cotton Exchange
Cnicago kard of Trade
25 HroaJ St. i
C3uy a?D NEW YORK HERAIV TUESDAY, jmBMBS; jMt 4920,
BINAHCIAEWS!
AP (MBlElIT
I
Check Ito Your
RaOroailStocks
THIS you camdo very readily
py obtaining our compre
hensive efrrator I showing com
parative earning o 40 impor.
tant railroads during Federal
control and priorereto; profit
or loss to the . .Government
through their operation; per
centage of gross taiminns con
sumed by maintenance; per
centage of total captation
represented by stock; high and
low range of stock prices during
and prior to Fcderil control,
record of dividends paid, etc.
Included among th systems
thus analyzed aro Pennsyl
vania, New York central,
New Haven, Readinfi. Union
Pacific, Southern Pacific,
Atchison, Great Northern,
Northern Pacific, Bah imore
& Ohio, St.. Paul, Rock
Iiland and Chicago ftlNorth
Western.
Send for -Circular Nn.;JtW
Earntas Crfrftr of IJrot.U.V
Spencer trask ffi Co.
25 Broad atrfeet. new uorn.
ON CIUOAliU
It MOCK M oan.
II ALB ANT -BOST
II Memher flew ,
Consumers Pwer Co.
General & Refund?? Mortgage
Ten Year 1 QW Bonds
Price 98
Yielding
and itcrest
over .28&
1 Serial Gold tbenlures
At
prices to id4'
about 7.75' ;
Complete circulars on theSttiracMrei
lsaurs lent on request ftAD-2S3.
Mationalty.
Company
Main CffictiNitiKulCitjVBUr
Upltwn Office: Rfih Art. &3rdS!
fcotmpondentOfflcMlnoverbltlM
A.
Broadway&Seventh Ave.?
Consolidated .", 1941
Brooklyn City Railroad
Ht Mortgage 5, 1911
New Amsterdam Gas Co.
Consolidated 5s, 194S
N..Y.& Westchester Lt. Co1
Genera Mts.O.rOO-l
H.YJ3as&Elec.lt.H.&Pr.CQ.
1 st Mortgage 5s, ISMS
H.Y.Gas&Elec.Lt.H.&Pr.Co.
Purchase Money 4s. 1949
NGTthernWestchester Lt.Co.
Consolidated 5s. 1953
WM. CARNEGIE EWEN
Investment Securities
t'Wall St.. N. V. Tel. Rector 3S:S-4
Stocks Close loTvtfr on tho Day,
Witk Only itfigli Priced
Issues ghowiijb Activity.
BUYING P0W.pt JTiAOKIXQ
Except in Crucll Ic and General
Motors Declir cs Wcro Not
Harked .Muywhere.
There was vejry little of Interest In
yesterday's stoc: Market. Trading was
entirely profess Iwal, with the rank ana
me of Wall Str fcet Inclined to the short
aide' on account of the unfavorable m
preralon made bjtthe bank statement on
Saiuiday, and fcV the additional reason
thai many perso.W took the view that
therally had gone about as far aa couia
bo (expected und lr tho circumstance.
The.markct In conbequenco ended lower
on the day, atthtkigh nothing or im
portance occurred I the way of activity
except In tho high Vticti Issues of the
(.-r f rruclhlo a lid General Motor.
which made a newt low record. The
rest of Uie Hstt was I under last week's
final prices at tthe ,,nd, but there was
no speclat prewrure fllrected against It.
H waa a case dr la,lk of buying power
In a market vJilchjls entirely In tho
hands or the bet contingent The con
servative Interefts -.rould have liked to
see the rally g- further, but they were
unwilling, for die reason or another, to
follow up Saturllay'.yprogress, circum
stance which orily encouraged the bear.
It would ltaf o Wn difficult In any
event to have-fmade much progress on
th. innp aiiie vesteway wim uie mna
i.vionmrntii. The bank statement.
which had- beer expected to show indi
cations of curticimeni or creau ouwiuc
of Wall Stret'- was very unfavorable
in ft. nrt niacfwhlle for the rest the
roncernlnc the foreign situation
made a very bid Impression upon the
financial community. It would not have
.-r,i,f,i Wall .Street a bit It foreign
exchange entered Into a fresh decline
with tlie news concerning the Italian
altuallon yesterdiy. Fortunately, how
ever, rates held well. There was. In
fact, everything that could be hoped for
by the bears to fah-or their side of the
market, and the orily reason why prices
h.i.i bk well as the did was because
ih. market had bedrt, bo well liquidated
In the course of the. decline for the last
fortnight Had the marKet Been in n
weak technical poaWon It would have
been a comparatively easy matter to
have driven prices down substantially
all thA miv around, but with stoeKS
lodged In strons hands again the best
that they could hope for waa a mod
erate downturn nt the outset, followed
by a gradual settling process to the
closing.
; It was very dUcouraglng to the long
Interests to see stock slide out with
out much activity, but outside of two
stocks. General Jtotors and Crucible,
the declines nowhere were marked. Re
public Steel was discriminated against
fomewhat more than other Issues and
ilso for the' reason that Ita annual ro-
ort, which Is to be Issued shortly, will
nw onli- i4 a share earned on the
r tk last year, against $22 the year be
fore while there was lurinerroore more
than the usual amount of selling In
lhdttl trial Alcohol toward tho closing In
anticipation of a decrease In the divi
dend r.ite at the next meeting; which Is
to be I, eld In the near future. Other
wise sta cl acted In a perfectly normal
manner Those who expected a further
rally In prices were disappointed, but
under thA circumstances It could hardly
be"cxpect4 I that either Wall Street or
the public 'ould rush Into the market to
buy stock ntll both professional and
outside Interns have been able to get
over the shocV received In the last fort
night by reaso.1 of the decline.
mere was nv -
money situauoii,
Lat'T Per cent. tU'' same rie a on rri-
day.-ond money ioaneu at per cenu
lor the rest of tlk' day. This was be-
cause there was nt uemanu ur money,
not because money! was really easy, for
the bank statement on wu, ucm.
onstrated very cleaK'y that the money
situation Is still fart rrom wnai wan
Street would like toee it. n is uie
opinion of many banlAng Interests that
there can be no reaU improvement In
money until there, are Vnal?aUon8 that
loans on coUon, BTatnand other com
modities are being cuOAown. There
was a feeling In some quarV early last
week thatUhe bank statement . on Satur
day wouldVshow a start lntlJs dlrec
i.t i .im nut. Tha fonclen ex-
pat was lower. wlthVateVlIng
down from SVturday'a closing, ut the
declines did not go as rar as expevieu in
ylew of the tVesh dUturbancean the
foreign sltuatloi.
, SO
I
MfflJEY AXp EZCHMOX.
' CALL dHOHET,
Mixfd CMlileril. f All Indnslriali. 4
iw u
1st ..:.f
Yiewals 7 IUneA l' . 7 1
,e ixearsv
n&iuw
NS.
Ml fkluilriaU.
i IVeir'i
TlltE LOSNS.
Jap
anese uovernmem
Fijrst 4s
External Loan
Due 1925
These bonds are quoted on
tho London Stock Exchange
nt about 105 of their par
value.
By taking advantage of the
low rate of British exchange.
Ave can purcJjets abroad and
offer to the American In
vestor these bonds at about
72, yielding approximately
11.50 basis.
Our Circular 3-S, '?' icfi"
this is postible.
Colgate, Parker & Co.
49 Wall Street,
NewYork
Collateral.
U,..., S
r dijsw,... s
monthly. .i...S
ontni..-
ntni
Sixty dajv ,
Klnety dayv
Four mo.itiis....
Fire montlM.....
Six monthj.V....
COXXTERCIAL PAPER.
Undorsed Bills Six months.... V-tHOS 1
IceiTaoie. I ui.ier.iaT.
rs..,, ...... t'.i Tnreo to six X. . .
ay. Ul months f'.4i',4
RISO HOUSE STATEMENT)
TlAuse exchanrtf. JM.93O.270: Vbsl.
.JtS.SH; -ub-Trsuryx credit Ml-
inMMTtn Trr.WAVn-c
. V. g(ri- uuico( pari Bl. iXTUia, 1
iiii ol ' 8an Pranelsco. psr; Moatnll.
MmnesY0 Premium; Clnclsnatl.- vVi
ivyxs. PRICES. .
New York, Itso, off lei: law
ir.i.
WEW ORfc STOCK EXCHANGE PRICES.
Day'a calea.
Mlmd'ay, Feferuaxy 16, 1020
t
fuiBc.r
ana. I At.
TO
lax.
SalM.
200
700
300
T
1920,
7BT.270
35.152,133
1919.
710,974
1C.64WS0
Advianco Humely pf I H
AJaV Hubber MNir
Alatva Gold JI.... ......
juncau o u i
lalraerfl Hfff......
o Clicrn
et 8ugar
ach Magneto...
Iftnea. I klltt- W- I CIO-
I lu. I tit I eat I
200lAlaJ
100
300
700
COO
6700
1C00
Alllfl
Am A
Arii V
Amer
Am vat u,.,...
Urn Car& I"ounary
eoo Am aotlun Oil.
1000 Am Dru.TBlst Syndicate..
100 Am Exp. tees
lCOOIAm Hide Vft Leather...,
5S00 Am Hide P oxatner pr.
400 Am Ice..1.
C800 Am Intern Utlonal Corp
900fAm Llhseetl Co
3500
ceoo
2400
100
200
200
Am Locor Votive..
Am 8hlp & Commerce
Am Smelt
Am Smelt i
Am Smelt
Am Snufr
SQOLAm Steel F
100
GOO
Vr25i
1UU
700
00
13300
7soo;
100
400
300
3700
100,
AAA
&2?00
net.
fBcf pf.
A
ndries
indrlcs'pf..
of
ITob
rob pt. .
new.
3CC. .....
400
2000
7000
Am Steel Ft
Am Sugar 1
Am Sumatra
Am Sumatra
Am Tel & Ti
Am Tobacco
Am Tobacco
Am Woolen.
Am Woolen v
Am Writ lHprr pf.'
Am Zinc. X, & Bmekt
Anaconda Copiler
Ann Arbor.... 4.
Associated Dry (Goods
Atdi. Tod 4 Sonto-iFo
Atch, Top & SaatJuFe- pf.
Atlanta, Blrm J All
Atlantic coast (Urso..
At, Gulf & W I 8 S..
Baldwin Looo "Works
7
SOOrBaltimoro iOhio...
Baltimore &eunio pi.
Barrett Co. .,.,.,.
Barrett Co pf. i....-
BatopllaA Mining
uemienem Motors. . .
Bethlehem Steel f8 p o pf,
Bethlehem Steel) IJ
Booth Fisheries.
Brooklyn Rapid' Transit
Brown Shoe pf.
700fBurns BrM...
Butterlcfc Co...-
Butte Copper &ZInc...
I Butte- Superior Cop.. . ,
Catiuo Cent O It
California Pack Co.....
80fc'Callfornla Petroleum.. ,
2200Canodlan Paclflc,
4900uTentral iather. .
' 1000
200
.3800
Tioo
rioo
i30o:
9)0
S2tt0
1 rriV
tVrro do" Pasco Cop...
rA-taln-toed Prod Coft)
Cluindlcr Motors
Chcmpoaxo & Ohio
Chicago. & Alton
ChicasotGt Western pr.
Chicago, MU &, St Paul.
Chlcairo.'OiIil NS. P pf.
Chicago Northwestern
Chrcatjo. R I c jMcinc.
If
10
c
..I
COc
s
Bar sit
London.
OB 3UC
W UV. DU
'up '.4ri.; ilexlcandonir7i
HGKrEXCBAKOS.
NOBLE & CORWIN
ts Bread St new Ten
Bankers Trust. N'des Bement Com.
Guaranty Tiu.t. Tex. Pac. C. & 0
Ttlepbons lilt Bread t
.tlrrllar
Dtmsso..
Cables...
Franca
otmana..
Cables...
Marlts- .
Drmana...
Cables,
Kortnil
rata
offJCh.
4.ISU Sterl'nr
. tin I'arl .
i"ilJ Beltium
rhlna
Iloarkcn
Shsninsl
Ortece
Holland .
India
Bmbay
jssan
Vnitnhama
PhlllDDlos Id:
Hanlla ..,
5.UU .,;;
Cbriainn
ron-3haren
South Amartca-
4 C':fi."VVAMV
Buenos Aires...
Spain ............
Hwltierland
Busla- Currency)
1l Rubles ..,....
.SOO, JOiliJ
Prerj
List , rlosa.1
f.i:U VMM
ffiIt
R23
15.M
M.M
.44
49.S1
M.OO
4IJ '
l.30
j.itn
103 42
Low.
H.M 11.3 .K.st4R 43 4
i i 1.02 tot 66 It ! 7
l-M l.M 1.0Z 7ff 7U ..
TriterdJT's CTose lOSifi tls
i Demsnd ntit ol
V or Checks. Cablea. Zii i li
... 1I.M II n B1U.f.4i ?
A-. i.w bo KG. 4
.. ij.ii u.n 2;
"s hr.A
Ah l il II. '
&r-" ,.SK is too h
ltM 42 I 48 .a, t
1M 48',5 65 2,i
Y lil 1'S. - A
::: 92 i
Xm I si 72 i 1 3
X -
3H
f"lil TiT Par; (Jin c rjf.
A 800 Clil. 1VS & Poc 7!p o pf .
v aomciiile .CoDior....-
lOOOfaiino Capper
Clove. CVU & St Louis..
Cluett, Ptiabody &'Co...
Coca-Cola
Col TVcl &lron
Colorado! &feouth 1st pf
'Colurabloi.GI & Elec
Columbia tiraphophone.
CoIumWa.Gropho pf....,
Consolidated Cigar ,
Con Interetalb Cal Min.,
;Consolidatodi Textile
ContlnentaliCan.
Continental Va'ld'
Corn Products Ret ,
iCorn ProductejRef pf....
Crucible Steel.' Co.
Crucible SJeeHCo pr
Cuba Cane. Sugar.
Cuba Canougar pf....,
A. Unburn.
Del. Lack 'We.tem....
Denver & RIo Grande pC
Dome Mines
Elk Horn Coal Corp...,
Elk Horn Coal Corp pr. l
Emerson Brantlng. : L
Emerson JJranuns pt...u
Kndlcott Johnson I
Erie
Erie 1st pf.... (
Erie 2d Df....U
Famous PlayerlVLask..
Famous Piayersvu pr..,,
Federal Min & Etmoiq-pr..
Fisher Body CotmL J. . . . .
Fisher Body Corpi;tf . . . .
Freeport Texas. L.
200Gaston W & Wljtmort...
uenerai v.igur ......
General Electric ICo
General Motor Cnrp
General Motor'xp pf..,
General Motor Cctrp deb..
Gen Motor Corp ikb 7 p c.
Goodrich B F...1.1
Granby Consol Ma & S. . 1
Gray & Davis.. .
Great Northern ,'pr
Great Northern pre ctfs.
Greene CananeaJcop
Gulf, Mobllev& North. . . .
Gulf ' States.' Sftcl
Hartman Cbrp r
Haakel & Barkercar. . . .
Hupp Motor
Inspiration Cn. Copper. .
Interboro Cora Corp
Inteboro Con (Corp pf . . . .
Inter Harves-ier Co new.
Inter Mcr M.irtne
Inter Mer Marine pf
Inter Motor l.ruck 1st nf.
International iNlcuel
International (Paper
Inter Paper it stpd,...,
Iron Products; Corp
Jones Bros T4a ,
Kansas City Shutnem..,
Kelly Springfllld Tire..
61 iaouulvciilicvwv. wuvn .......
1.80 f 3400Keystone Tirol Rubber,
LriiCKawanna aieei uu.,.
Lea Rubber Tire
Lehigh Valletf
Liggett & Mjfrs Tob rta
ioevs jno a.
Loft Inc ....1..
Looso Wiles Biscuit....,
Louisville &psashvlile..
'Arnntrnv OfR
Manhattan Elevated Ijuar
Manhattan Blurt
Martin-Parry Corp....
Maxwell Motor
Maxwell 'Motor cus...
Maxwell Motor 1st pf.
Mexican Petroleum ...
Miami Copper
30500MIddlo States Oil
Miavaie aioei ec vru...
Minneapolis & St L new.
Minn. St P-& S S JI....
Missouri, Kan & Tex.. . .
Missouri, Kan & Tex pf.
Missouri Pacific
MissourTi Pacific pf
Montana Power
:Muliins Body ..........
National Aniline A Chem
National Biscuit Co. . . ,
National Biscuit Co pf,
National Cloak & Suit.
National Conduit & Cable
. . . I . h r. 1 .
National Lead Co. . . . ,
National Lead Co pf . . . .
New Orleans, Tex & Mex.
New York Air BraKe,...
New York Central
New York, C & St L 2d pf
New York Dock
New York Deck pf.
2700 New YolV, N II & H.
poii'nern
100Norfolk 4 Western...
.vo.soni Aineilcan Co..
700Ncrthern Pacific
CO
37 k
38
47 U
56
es-fi
70
1
1
38
SB
80
UOtt
42
127U
43K
12U
90
21Vi
104
39
91
78
&18.
7179,493
19,28.4lO
1 ,
G-09SU op wall stseet. f jfirONDS IN NEW YORK STOCK EXCHANGE
m
125 '2
82 ft
loirer IPrlcea Rule.
Tliree factors were directly responsi
ble for, yesterday's decline, which crew
Jn volatile toward the day's close until
altablo kiases were established In most
stocks' on the list First, low bank re
eetvtu rcriedted in Saturdays bank
statement; second, fresh peace treaty
complUVatlona- tlilrd, mixed political
conditions, trheso factors led most
profensipnal bear cliques again to put
out e:rteWvB riiort linen. Titer led. too.
to stimo additional Investment Haul-
datlon aid to scattered forced selllnr
of extended accounts, The markti
opeid hrwer and there, was a brl ft,
rauy -oeioro noon, louowefi oy n. peri'
or inactivity in wmcn uie ticitcr siopp
dead still Nat tlmea Then started
fresh selling campaign, in which
high price U speculative favorites
fered sharjly.
Repnlio Iron und Ateel.
The annual report or ilepubllo ii.on
and Steel, tk be made public to-tiay, Is
, . t. .ti...Ui.i.Mi ji...,i .
It probably rwill show that nepubll. did
not earn Its'.'C per cent dividend in 1919,
Earnings aiktllcable for the commu.i wilt
ahow.vMtwUin S4 and Ii.EO a;, shJtre. It
Is rcnorted In contrast to 23.1 3 per
cent ei.irnea in lsis. Itcpubiio'wf m very
uniominaie auring uie last quarter, and
Hay1
Hei
.
illli
84
97R
93j
67
122
102tfl
48
1G
VY
11
61
79
6
87T4
143
107
29
42
1134
10G
1
20
109 109
86 U( 88
61
97
34
23
13
65
165)157
-H
-t
Ai
V .n1. I . . ' .IU,,,V 1V,.0IW
teoMo .date:::::::;:: 631,072,000 419,667,000
RANGE OF LTBERTT BONDS.
flnnlnr SnlfiS On
pJld. Askcd.YieiUi?i,uu"s.
SK.fJO 30.70 3.V6 'tioa a I ,;.'
SB ISt CV. IS ..
220 2d 4s (1927-42).,....
27 1st cv. 4 J92-47-1,092
2d cv. 4 (":
.. lst-2d cv.48 (82-47)
93.08 93.10 K38 1,713 3d 4o (").......
90.08 90.70 4.98 3,206 4th 4B (19M-3S)...
M4 97.78 6.31 UU Vic. 4B (l22-23)...
97,70 97.78 4.29 748 Vic. aftB
90.40
89.90
91.33
90.32
90.00
89.90
91.60
90.38
It haa'been the last quarter's -bpf rations
wliich'have pulled the total fof the yoar
down (below tho dividend inuj. For
nine ihontlis ended on creptcm'be) 30, the
net wus jz.s3ti.uu ana Ufe sitrftius. nr.
ter dividends, 1299,924. Thlh; was at
an annual ram or aooui i,ttu'ier cent
ror Met nine months. That 4 iip was
not maintained In tho .final quajrler, how
ever. Ttie company's plantsiweiioijpcruted
from 4tfj to 60 .per cent off (capacity
during' t so nrst flve months of 1919, and
nt an awrage rate of 70 per dint, dur
ing tho Subsequent period to ft ptember
ZZ, whentthe laborers strike isiuscd al
most) a. complete shutdown. lD-oductlon
wan .resumed in November, b q t not in
fluftlctent vutume to make upt for the
losses during the shutdown. It should
Toe staged In this connection tliat 1920
ll Tif-nYin r!r tit Ell hA n l1ta vanJ !.
-public ithan was 1919. It haji on Its
r books oraerv wnicn will keep) trie cor-
'poratloit's plunUi busy for at ileast bIx
months. A Jaborers' strike.) a coalD
suortago and.lnnuenza are not! likely to
bo bunched dgaln to retard 31 epubllH
oporatlona. Ilepubllc made no reportIn
the, last quarter or 1919. prB,abli- 'be
cauee Its showing was such oJnoorto'ne.
Arulneiable SlocLoi.
Stoduiiwhich lfnvo iBSDbu'ed nnvanrt
of vulnerability lihone tweek a hs notK'ery.
likely to' resist attack Vlth apy parAloO-
iar su-ensui uurinjx me next seven uays.
On thijfr theory tue bears marslfalled
their forces, drew 'rip heaiy artillery
and started a creeping ban-age which
centred about General Motbrst and the
lesser Jights of the motor group) Crucible
St-el. a few oil and ilhtpplng etodks and
some specialties. Th e close found them
In complete rout with losses 'of Ja point
or so between sales.
-
- 1
"
Country Sillln;..
Hie head of a large itomoilsslon house
said yesterday that mdeh pressure
against tho market atlpj-esent comes
from investors and speculators outside
of New York who are jujit getting the
disquieting news of the figures at which
their stocks are selling oildj are letting go
at current levels td save? nometh!ntr out
of the wreck. "Stocks arej dribbling back
,to Wall Street from jnll over the
courttrj-,"- he declared. 'IMost of them
are new securities put oit In Uie bull
marloft last fall that have- failed to stay
put I am under the Imptiisslon that we
must be prepared for a 'great deal of
tills sort of liauldatlon. Itl is not strlctlv
foqeed selling, for' generally a price Is set
for the stock a point or so ajiove the
market, but It will take carei of any
bun of speed the market mayftiave for
'seveeal weeks at least"
1
2
s
6
1
Dealing In Saga Fatsires,
After- suspension since (AJugust
16.
--1
Continued ua Following 1'agc
1917. dealings in sugar futures started
on the ew York Coffee Ezc.iange yes-
terdav. JOltures ror too acllvei month
sold at aM.84 cent level at th5 time deal-
Incs were) suspended. Tlief fluctuated
between 9Vj and 10 cents, according to
the month,, on the resumption of trading'
yesterday. Trailing in sugar has been,
particularly urged by laege dealers.-
grocer, candy makers tana! otner large
users, wno nave oeen ooaqie 10 ugure
their future 'iuslnesa becauso of the wide
fluctuations of the staple.. By irolns into
the market and purchasine futures; at
this time they tnow exactly tho price
they will pay for the commodity on any
date.
Rumors ! 'Humor I ICumors!
Some particularly dlsqhlelng reports
are going around Wall Streett about the
ptctent financial status tof 'borne men
who have been big ftjureh In' the finan
cial world, and to this Is Said tho heavy
liquidation of some of th'j higher priced
'motor and equipment stocks. The story
goes that a little group oflimen has gone
overboard In the market, that accounts
have been sola out and taken over and
that several of the group pre In serious
fnancial straits. As Was Street hears
the story, the smash is the result of a
battle behind the scenes (between some
big interests which has fbeen smolder
ing since a conference rf November, In
which an attempt was made to patch up
the differences.
Crucible SteeK.
II, B. Wilkinson, chairman of the
Crucible Steel Company ,of America,
made It very plain to Its stockholders
yesterday that the extgn dividends
planned In connection with rthe stock In
crease from 326,000,000 to 875,000,000,
000 would depend to a great extent on
Uie decision of the Supreme Court In the
stock tax dividend case, and that even If
It should be favorable no large distribu
tion would be made at one Ume. "What
may be done later," declared the chair
man of Crucible, in answer to the ques
tion of a stockholder, "will depend on the
court decision. The company's policy
will be one of conservatism, and-at no'
time will there be declared any large
stock distribution.'1 Earnings, he said,
would be carefully watched In order that
in issuing additional stock there should
be no Jeopardizing of tha continuance of
reasonable common cash dividends.
Crucible Steel, which held steadily dur
ing the early part, of the clay, broke
etarply near the close, and for the first
time in the current slump broke 3200
a share. It closed fractionally above
that figure, with a loss for the day of
9 points.
Standing; Aloof.
One of the' surprising- things about this
market ts tho great number of peoplo
who are not In It A period betwixt and
between. In which Uie people who buy
for the long-pull are satisfied that pa
tience will pay dividends and the usual
speculator, who cannot make up his mind
on wmcn siaeoi tne xence to nop, appears
to have been reached. One of tho rea
sons is that many of the really big peo
ple of the Street mako ft a rule never
to go short of any stock. They will only
go Into the market on the constructive
side, and If the Ume does not appear
ripe for a profit on that side they merely
stay out ana iook on. Tim is wnat a
great many people are doing Just now:
That Is one of the reasons why the nor
mal dally turnover is less than 1,000,000
shares of stock,
, Prophecies.
A banker of some importance in the
Walt Street district asked his opinion
of the money sltuaUon, eatd yesterday
that he would make three prophecies.
first that the Report of the Federal
4.62
4.70
4.81
4.94
fis
4.98
6.31
4.29
Open.
9S.60
90.60
90.10
9L30
90.28
93.00
90.66
87.76
97.74
High.
96.70
90.60
90.10
91.60
90.60
93.14
90.70
97.78
97.78
LOW.
96.64
90.40
89.80
91.30
90,20
92.90
9(XC0
97.TO
97.70
1918.
36.911,000
169,601,000
Net
Last Chjrs.
96.66 -f.06
90.40
89.92
91.40
90.34
-.18
HMo
.14
93.10 .10
90.70V -06
97.78 .13
97.78 .02
United States, Forela Government, Railroad, Industrial and Otkertds,
C.,..,,.S2'
a...t.sa
ArtlcTrtncn, fa
4 04 Ji
17 Ollj
64 ,04a
1 041
S 044
1 V4IJ
3 Mia
O,...,..04lj
1 94Ji
S 04l
140 641,
t:::-M
B,..-....MU
1 S4S
II 0414
io. Oe
9154
ptyor nor
deaox M
S SOU
City of Lyons is
4 SOU
Cltycr Mar-
fKiUM'S
8 00U
City ef Paris to
is vo
4 SOU
ft sou
is....... sou
CritdKlndm
ihs i in
31 Mlj
a 93.ii
4 0
n. ...... van
1 0.11
1 0353
O..., ...U31
IMslUlicti
8 SOU
20 90
S B0.I4
10 :sost
(Kllrcta
11 00
3 OAi
10 609s
IW 1S3,
88
.8M
.8578
.86
.834
. . . ..iM'g
8534
SSTg
Bfl
.,S.
1A.
1..
2..
2..
1..
S.
1.
A.
1.
3.
17. 8534
2. 8.17s
imauiaaaaMs
ltll
0 OSTg
1 955s
1 0534
11 90
Dora Canada fi
6 y.BTla
in
1 639g
....937)
, ...B3JJ
!!!!935S
....03U
..9334
6...
3...
2...
a...
s...
4....
mi
io. 01
3.......9IU
.... ....VI
1 Olla
Rep of Cuba fa
irat
8 95li
EepotCubalH'
., 75
CSorMexJcoti
30
Cltr of Co Don,
bagenSKs
1 So.
ChlneseGovt &a
2 ..431 g
7 4.1
l.......U
1 .43
Japanreist4Ks
I0.J3O...7U1
S 71V
15.JS0..71
7 71IJ,
3 ,,73.
11 71U
3..S30...703!
3. 71
S .707
3.330.. .7034
2: 7118
tO..s3a..70U
l..a30...70U
MpaaesaMiMii
3 7U'4
0 7034
3. 71
70V
3 701 a
C30...70ls
I. ...... 70-4
2..,....703
fi 701a
Jananeu if
io..a30,..a77a
10 CS34
7..7..08l3
lO.iM... 870,
S. SSU
10..S30...S754
S SSU
a wt
1.. SSU
Adams Zip 4i
3.......UO
Am Air cv (
, 1 9834
Am Cot Oil la
4 88U
AmTJcTcVh
1 S&3a
a ooij
i 907a
Am TAT dt Sa
1...C..81
1 813,
3 81
1 807g
.fl 81
AraTAT tit 41
33 T8I4
Amwriunil-H
1 ,S2Ia
Amour W
1 83
AT &8r genu
2...)...753
ti. 7Rlj
l..-0...7434
3... ....75
ATBVsaj4l
ttamred
I C8U
At Coast Line!
1 75
All OLCJtl
I ..68
3 67
Ba'tOhlos
20 8I7g
S S134,
37 sa
8 817g
4 82
1 817g
n ft o sa ins
2.. .....60
1....V..01
1.. 60
1 6034
63. Ol
B&OCT4K,
1 69U
7 SOSi
1 SSU
3.,, ...,0314
2 EMi
Baiiao gold 4
1 01U
1 02
13 617
Bilt A Ohio SHl
I ,u
7 80
EalUcOSWSHs
6.......70U
Baltic o PL t
at wv4
S. 53
Battle Creek 2s
1 49
Beth SO Mr Ji
1 S4lg
'1.J30...82U
BknRapTrJs
rertiseaMf.'
1 40
Dim Do El 1st
1 017
CalOajJcKta
ft 83
Can Leatbar fa
1 94Jg
S 93
Cent Parian Ut
1 70
I 1 COIs
CbeaftO fiW II
4, 8211
O ft O CV as 41
0, 77
0&OCT4H
18 713,
1 73
1 711
cue & o 4 Hi
0 737g
ChAO BAA 111
a. 70
CM&Alton 9 Mi
4 29U
Chi As Alton la
3 443,
ORs,Q Joint 4
6 93U
fi 9311
1 933,
0 031
14 934
17....,..93U
3 93U
1 03U
Ch- Ot West 4i
1 624
1 627
OMftStr CV as
1 n67
G 673a
Oil st rcr
4Hi
1 07U
4 67U
1 07
1 67I
10 67U
1 681,
I....'.. 671a
Oft KW cm U
3... ....Si
CicNWMilSpr
ft4a .
1 ."TOlg
(hinltPrtfli
2 611,
...61U
..B1U
-Oils
..Ot
..6034
..Ol
8,
2.
S.
11.
k
ChlftWJndti
o... ....x
1 57
ChUe Copper 7a
S 101U
10 101
Cblls Cupper ti
1 58
1 77J4
1 771
6 77U
Con Oaj s.yr 7,
in..,,.V7
37 993,
la.. ,.ioo
26 993,
10. 0934
Den Jc Bio 04s
4.. 603,
10 60U
Dea&Banfli
1 41
Erie 1st con ts
12. CO
1 47g
Ella gen 4s
8 39U
IlavElecBris
1 85
Hud ft II fd(
(sBerlnA
S..T....S47s
4 S434
1 54U
4 545j
nudiifan vlt
3.......137g
12v....."
Hi Central m
i vo
111 Cn 4s llM
S.4 Oil,
HI Ctnrf tail
' 1 6734
S 67U
lndlanaStel as
I0.,...,.9fllS
Iaterb B T ret
HUH
1 63
IS SOU
6 6u7b
1 ,.S0U
1 (0
3 SOU
21 51
Interboro-Met
rol trust 4Mi
6 18U
IO U
1 r!3g
16..,....17U
49 IS
lot Agr Cb a
4 70
mtllalartnaM
l0....,..8SU
,11 88
3 SSU
4 SSU
lowaCentraMs
1 38
7 38U
Ean ctrySola
i2 8JU
Kanuur IW 4
4 M68U
2 711 1
1 683,
KeoftDesM 1st
1 8U
1 701s
LaekBUU im
1 92UI
LSftUB 4a in
7 81U
LB ft MblHs
1 68
Lehigh Valu
1 100
1 B97g
Lvorraconta
1 71
Lbrgettft II 7
5...1..I0S
Lonx lal fdit ts
6. 6JU
Lon ft Kaan u
8 SO
3. 707g
UtdTale. EU la
1 63
llanhat Ry 41
ttamped
6 66
lllch Ccn IMa
3 65ls
Uldrale Stl as
E 82
S. 833,!
IltanftSMirdss
1 44
Hum & St L 41
J 37
Mo Eft Tex 4t
1 57U
11 o Pie cm 4
. 1 ,6438
3 &U
3. 64
20 64U
io. Mas
7 64U
3 Oi
MontPwrH
1 82U
KOTcxftMIs
I 2 S2U
NY Ccn deb Ca
0 ..oou
6 SOU
1 SOU
1 VI
8. 90U
2 x era Oen is
1 73
14 7
N Y Ctn'ij
1 655.
S 6S2S1
NYCeaL81Ks
3.......SV
NorfoUrftWest
New Blver ti
7 103
WorthemPaots
B 73
13....... 73
Northern Paeli
3 61
o 6QIi
OrflhLfdf a
3 81
OraWaih Bit
Narrefls
16...,...66
Iadnc Oasis
6 78
PacTelftTSs
1 83U
Penna fi ItU
10 8834
O SSU
renngm Wn A
3 70IJ
a....i.,9U
Para Kara U A
1 8378
Phjj cocr St
im
3. S7
Feb trrr Corp
UflJU
1. 63
Reading am 4
1 7814
1 78U
ltIArKftLS4HI
1 63
3..s30...683a
4 617g
l..e30...583
1 6IU
en, ft iron ais
lilvft Oulf 4a
3 66U
BtLftSanPran
Bcnei A
1 615,1
17 64U
1 05
1 631a
10. 5514
BO, ft San Fran
all la
3 S7V
3.J30...57IB
O. 67U
1. 714
3 67U
MLftBanrrao
Inc St
10.,
a...
3...
...
1...
3..
.40U
.41
.4Ilg
.41
.41U
.41
StLoolsSW 1st
2 61
S t LoulsS w t
1 6634
! SOU
1 0OI4
StLSVT con tt
0 49U
f-rabdALrtfU
10. 43
Scabd A L adj
1 33
10. 32
BoutbPSecTls
10 f08U
10, S3g
6..
10...
1...
6...
5.,
.9531
.SSU
.9S34
.SSU
..SSJfl
EoirtbPaccTli
7,.t....77U
7 7734
1 78
South Pac ret
S 78
1 74U
1 743,
7...f...73
South Pac 4i
3... ....63
3. 66U
ForacBTttrt!
10 71U
4.. . . .
rmiftltyinti
1 .sesg
O.......MU
0.......60
Tenn Copper ts
e vro
Trxas Co eves
4 loo
TblrdAvadJf
10 28
3 3713
0 38,
ThlrdAv ref Is
4 461a
Trt-atynftLSs
Un I'ac lt-tt so
0. 1O0U
13 10034
OnlooPadfla 4s
3. 80
1 SOU
UnlonPasretu
3 72U
Un nnspfdn
TJn Trust ctfs
10. .33
VsnealtyftlSt
O. 747s
1.......75
U a Bobber 7s
3. 100U
V 0 Bobber U
6 83U
11...... 84
U S Steel af fs
e ..0534
6 031a
10. 00
3 S6I4
0. oa
0 0614
Utah roww J
a sou
Vaoaro Ch lat
3. SSU
Va Caro Ch cs
C 69
Virginian Ryi
1 8318
Wabash lav
a 87U
Wsbaah 3d
4oa mOQ
West lid U
1 491j
3... ....O
WeatPacias tat
3. SOU
WheclftLE4Hs
3. 50
WllaonftOo lit
1 97
Wilson A Co cv
1 01
3 Sllg
Wis Central 4s
3 67
NYCftStLdbU
0. CO
NYConRy 4 Vis
1 78
KYOas ELt II
ftPla
1.......625
N y n n ft 11
cv ts
1 69
NYrrnftHiiu
1 447,
NYKH&B4SM
1.... .. ,46
KYOstft W4a
10... ....SO
N Y Tel deb li
1 0234
1 025,
8 92U
3. O234
NYTel gm 4Xi
3 7fJa
Norfolk Eon as
1 6OI3
KorfftWcv s
2?... .997a
Norfolk AW 4s
3 761,
2 71
BID AND ASKED QUOTATIONS.
N. Y. STOCK EXCIIASOE quOTATJuaa.
..,..
UNITED STATES GOVJ$HSMENT BONDS.
Bid. A ill.
5. wHalerwl 4 ....MOW 101
ts, coupon JS2
4s. rexistered J
is. Panama, IMS, reiistered IM
2a, I'inama, coupon....
:s. ran am a, vrsi, rcziaiem
U, Panama, 193.. coupon ...
3i, Panama, repsierea
it. Panama, coupon
Phil. Isl, land purchase 4a, 1931...
Phil. 1st public works 4s. 1SS3...
Phil. 1st public works 4s, IBS...
Diitrict of Columbia I-CSs
FOBXIQH BONDS.
Antlo lTeneh Extern. 5. JJ20
ArrmHn Intern. Ea. 1913
Canada. Dominion of. notes.
Canada, Dominion of. It. 141
Canada, Dominion ot, 19IS
Canada, nonunion oi,
rn Tlnmlnion of. 1931.
rKn.M n.. Tin Rur Rt. fis. 19S1. IS
.106
.100
.100
. ss
, ss
, 90
. w
.
'.
. sir.
. 93H
, 91
101
1?4
101
101
101
101
91
91
93
-
93
Cnbs Extern, (a. 1M4..
SOU
Cuba Extern. U. series A..19U.,
Cuba Jsxtern. ia,
Dominican Kep. 6s,
n, nf T.Tnna 1 Tr. Ca. 1934
City of Marseilles IS jr. 4a. 1931
City of Bordeaux IS jr. ts, 1JJ4
-Paria Pitr fia. 1221.. ......
T.n.A Rnr. 4U. aterL loan. 19S. 71
nLJvonr ill M aeries.. IK.. 70
Jananese Gov. 4s, aterl. loan, 1931.. 6414
TS'.,
SOU
sou
son
Japanese, Toklo Ofy 6s. isw........
U. K. U. . I. o .-.....
U: K. O. B. ft I. 3 JT. 6H. 192....
U. K. O. B. ft I. 10 JT. aj...
If. K. O. B. ft I. 20 JT. 6H?, 15J7...
Mexico Kxtern. aterl. 6s ot lu.
Mexico Extern, told U ot 01, lSat.
S3.
30?i
90S
S3a
IH
71
K
931
94 J
41
91
75
S4
904
4
6SH
67?.
m
91
91
SO
33
:i
Bid. Ask.
Col ft So.... M r
do Si Dt.. 40 43
ComD Tab.. 44!4 4t
Con cir pf. 7J!4 M
con lias.... tt .s
Con Can pt.ltl 10S
Con Insor.. 70 75
Crex Garret to 63
cub A Sar.TTS 4t
do DI.... n IK
Deere Dt... mi IM
Det EdisotLUS mV,
oen ft A o 6ii
Det&Mark.. ..
lt nnlli. ..
DUtm'nd M.UJ
Dili. SS ft A 3
do nf C
Durbaln II.. 67
do Dt...... 39
Elec Stor....l
Endic J pf.KO
Fed M ft S. 14
Fairbanks.. ..
do pf. 31
Gen Chem. .150
do pf. SS
Oen Cin pf. 92
do deb pf. 86
CuirMftNpf a
dull Stl lpf ..
Hair pf...um
dollar price of slocks In which there were
bo trsnsacuons jTMeruaj"
BldT Ask.
Adams Exp 13
Advance B. 33
Al Co Pi
A A Ch pt. S1V4
Alb ft 8usq ..
A Bk Note. SMi
do pf i
Am II 8 Of. S3
Am Bk Sh. S7
do pi..,., .in
Am Can of. 93
Am C F pMB
Amer Coali t
A Cot O Dt. ..
Am, Ice pf. M
AmLaFnw nV,
Am una pi i ,
Am M ft O. SOU
A Snuff pf . B
Am Bug pLTHti
Am ZJne pf 63
Ann Arb nf 8
A Dry O lpf
do td pf.. 63
Assets Beat SVa
Asaoda OU.U3
AOftWIpf.. 60
At Beflnlnr.ino
do nf. 113
Auto Bales, II
do pi...... 31
Bald L pf.. 9S
Barnelt li,. 70
do pf...... i0
Beech Ok.. Xi
33
S3Si
U
leo
45
o
91
IM1
200
. 97
113U
73
17
CO
UU
K
m-
90
117
64
2S
73
73
1
lit
a
1130
111.
i:
sl'J
19
M
UU
Bid. Ask.
Bkn It T ct 8
Beth Steel.. S3
do 7 96
Bkn Edison 93
Bkn TJnOas 60
Brown Shoe SO
Brunswick.. tU
Hut ft Suaq ..
Buff B ft P. 4354
do pf.
Burns B pt 91
Bush Tenn. ..
CalPack pf.H7
Cal Fet pf. ft
Cal ft Aria. CJU
Can Sonth.. 4114
Case pt 97
Cent Fdy...
' do pt..... 40
CLeath pf.103
CBtt of NJ.1K
C S A Tel.. 110
Cert Pd lat MU
do 2d pf.. SI
CblftAlpLlO
Chi ft EI Ot IM
do ct pf.. 6
CNWpf...ll0
C Ot West. 7
ChiFneuT. 13
C 8t P ft O 65
do pf SO
CCCftStLpf (3
O reft Pitts ..
a Feab ptlOl
10JU
M
5T
99
7
TO
60
IM
lit
100
133
C9
(1
60
IK
HO
lit
49
'11
6?
S3
(3
to
lilt
t3
100
4
9
tt
103
1U
100.
nu
71
ii:
r
104
37
so4
87
113
31
tTH
is
TI
1
63
M
100
TO
t
17
U
43
115
118
99
99H
73
93 1
5
30
153
10TU
nendee M... M
lUlnoU Cca 34
Int Arri.... 15
do Pf 63
Int Mot T.. ..
do Sd pt.. SO
Int Nick pt S5H
Int Pap pt. TO
Int. Salt ftti
Iowa Cent.. 4
Jewel Tea.. IS
do pf 40H
Ean C S pf 41
Karser no
do 1st pt.lOt
Kel SpTpt 91
do Vi 97
Eel Wheel.. (7
do pf. OS
Keo ft D M 3
do pf. 19
Krtsre S S.143
do pf. Ul
Kress S II.. Tt
do PL.....100
Laclede Gas 40
Lake EJfcW. 4
do pf. -15U
Lirr ft U..135
do pt. 100
Lorillard ..151
do pf. 104
L-W 1st pf, 98
do 2d pf..H0
Van Beach. ?i
Madtar pt. l
Man SUlir.r.9
do pt. S3
Martin Tt.. SO
Math Alk.. Vi
May Dep. 8.11EU 119
do pf. 104 110
Max Sd pf.. H
Mex Pet pf 94
Mich Cent. S3
MSSM pf... 99
MS8MIJ.... 69
Mor ft Ea.. 7014
Mon P pf... 99
MulUrtB pf 97
N C ft StL.100
Nat Acme.. U
Nat Anil pt 33
49
10
17
174
106
160
107
101
13)
112
100
70
33U
23
104
63
7f
160
lis
37
u
Bid. Ask.
Hat l.'AS pf OS 10)
Nat EAS pf 99 ' 101
Hev Cons... 16U " 134
NRyMlpf .. 19
do 2d Pf.. 4UT 41
NYLackftW R
NYCASIL... S4 26U
do 1st pt. 63 70
NYCftW.... It 17
Norf&Wpt a TO
Ohio Fuel.. 43 4
OUs Stl pf. .. 97
Owens B pf .. 17
Paa Coast.. K 60
do 1st pt. to 100
do id pf.. 45 M.
Pac Mail... 23 33
Pac T ft T 40 41
do pt...... TOU T0?4
Pariih ft W. J7i
Penney pt. to 94
Peoria ft E. It 14
I-rrc M ct. (0
rct-Mut... St ts
, do pt 39
Fitu a pf. ts y
PFW40 pLia4 m
Pitts 8tl pf 91
PftWYapf. .. T5
Pr St o ptioi 103
Pub Service (3 73
Ilrst Sd nL103 107
Royal Dut.. U 9tV4
Kep su pr.ioott Ki
Ben ft Sar..l03 117
Read 1st pf 3Ui S
Bemlnrton t!
do 1st pf. SSU
do Sd pf.. 03
Sar Anns.. 70
Seab AL pf 13
Sears Boeb.!13
do pf......Ut
Sloss-S pf.. SO
8ILft8Fpf. V4
StLASW.... 1SS4
8 Pcrto Sur.700
' do pf......I0i)
Stand MilL.UO
do pf SO
Ptndtb pt... 90
Tex FacLTJiO
Third Av... is
Tide W OIU60
Tob Pd pf.. fCU
T St L ft W 6
do pf. 1-5
do e...... 10
do li c... 13
Twin City.. JO
do pf
Underwood US
do pf- ,
Un Cir Bts..lC0
U Drur lpf 49
do 2d pt.UO
7n R Itv... 9'4
US InAlpttO
US Smelt pt 43
Va-C 0 pt..lS9
Va I C ft O 71
Wab pf B.. ll4
Wells iFar.. 47
IVeat 1st pf 624
West AUT'D-W;
West M Ipl 11
West V M.. 5
WhlftLBpt It
Wilson pf... 93
Wis Cent... 23
Woolworth Mi
WlhttnpfA ..
Ex dividend.
71
93VS
100
T3
11
fj
116
96
S6H
11
no
in
133
90
100
330
13
219
95
12
23
13
23
314
s
172
120
221
SI
iitt
101
4SU
107
tt
13
60
43
110
17
tsu
IS
S3
73
123
-
TOIEY KIRK
ESTAlJlSHED 1873
SmZHS2tT, STOCK EXC1UN0K
, i
SiitlFirtiSiciSusarPd.
Havana Tilicco 5s 1922
United Leaf Dei, 5s. 1943
i
i
25 BROp STREET
4 I-
Bt-?isee4iassrajsi,Mtt)
prichittI
;v Ho. -
Iteservo Bank, for the next four weeks
would show a. decline In reserves each
weeiu- Tlio lait Uvortint Si,01l .
at 43.2, the lowest of record.) Becortd.
that every speculative pool in Wall
Street operating in the market would
be obliged to return its funds. Third,
that the automobile companies wnicn
have gauged 1920 by the number of
orders taken at the motor show win
face a great many cancellations during
the year, and, that the clause that de
livery of cars purchased must be made
cn the date specinea in me contract wui
be taken advantage of by many pro
spective purchasers.
Custom. Honae Receipts.
Receipts for duties at the Custom
House yesterday wers .31,346,284.31, of
which 3364,721.09 was for merchandise
withdrawn from bonded warehouses and
J8S1, 562,75 for recent Importations.
' ' California Packing;.
Current shipments of the California
Packing- Corporation have been unusual
ly heavy, according to an official of the
company, and, despite the large busi
ness turnover during -the year, the com
pany enter its new fiscal year with
light Inventories and its only debts are
current bills and Federal taxes. Total
billings for the year ended on February
23 probably will be from 37,000,000 to
310,000,000 in excess of the estimate of
370,000,000 recentlr made !y R.T. Bent
ley, its vice-president i
Exports From JTevr Torlc
Corn, 41,615 bu.; beans, 9.045 im.:
gross seed, "00 bags; beef. 90 bbls.;
hams, 406,SjO lbs.; cottonseed oIL 276,
000 lbs.; barley, 44,475 bu.; flour, 36,170
sacks; pork. 305 bbls.; bacons, 1,319,400
lbs.; lard, 837,600 lbs.; lubricating oil,
334,100 gals.
N K wTYO R. R
VTVcruuwAjroi
r
INVESTOR
8ECUBirES
" - 1
srxTY
NEW YO
1 3U
B dm mm ,aii
DWAY
I CITY
Hartshme,
Fales $ yo.
MtmhlfrJS
Nao York &ock wane
71 BroadB
Empire. Gasfnd
Fuei Comply
7o I
rlb
Converblfe
Gold Jqjes)
of v
850 Id
At Present C atlonj
Well Set h1
Large Earn!
tower
Attractive Cfrersion
Privli
Henry L.
& Com;
Bond Dcpa
69 WaU Street,
ierty
lent
fcwYork
4ill Buy
ii,. ii
Cam. II
J. K. Rice, Jr. &Co
23 American Machine,
10 Manhattan .MIX". Co:
SO Paths FrrrM Phonos
100 P. P. Collier ft Son. 4
100 Royal Typewriter Cnnf
ooxesas racino corn s
100 TV. K. TlUotaon 31 fx. I
100 Pocahontas Fuel Com,
J.K.Rice, Jr. i Co.
IS General ChemlraJ Com
lOlIarrlman Nat'L name
23 National burety
It Providence ft Worreat
SO Southern CUllItlei Tfd
60 Texas Paelfln Coal ft
23 Wm. Cramp ship ft 4 n'to
J.K.Rice,Jr.
Phones 40O to 4010 John. It Wall
Abmt. Lt & Traction
CkrM Service
OlisEleTater
H.F.McConnelK
Member t iV. r.Sfoct
K BVay, N.Y. Tel. Bowl. C
It-itls fir livestmi
Harris, Forbes & Co.
rtae Street, Corner TflUli.ro.
NEW YORK
v 1

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