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r V ft X m h t t i ' t , fa s s 5 te- t t I I t it 5 u THE SUN AND NEW YORK HERALD, WEDNESDAY, MARCH 8, 1920. 57 Hydro-Electric 57CX of lh Consumers Power Company comes from its Hydro-Electric 74 Communities Served, The bonds or debentures of this Company offer an attrac tive investment. General & Ref. 7s 7.28J5 bails Debenture Serial 7i 7.75$ biii CoinpUte Uluitratrd circular tent on rtquat for AO-zou. HieNalionalGly Company Uptown OSmi Fifth At.& iuiSi. corrwpoaatnt omcea In over CO Cities FINANCIAL NEWS AND COMMIT Stock Trading Is Stagnant-and Prices Show No Tendency in Either Direction. FEW ISSUES ARE ACTIVE Trading in Endicott-Johnsou, Leathers and American Woolen Only Feature. Toledo Traction, Light and Power Company Three Year 7 Debenture Gold Bonds Price to Yield Orer 8 Combined with an attrac tive conversion privilege Ask for Creulcr "T-31" Henry L. Doherty & Company Bond Department CO Wall Street, New Yrk r Foreign Exchange, Securities & Currency Special Analytical Circular upon request. EW. Wagner & Co. BttatlMtS 1197. CUtcafo r N. T. Stock Stchanat Ifsrabera K- y- Cittm Bachanei Chicago Board of Trail 33 New Street CroaruTi V Floor New York Branchf 14 Edit 441ft St. Uai.Jil.tt Kilt, m Wat tit St. . 10 Court EtBkJvn. U. R. S. CANDY STORES (United Retail Stores Candy Service) This company is rapidly carry ing oot ita program to develop the largest chain of retail candy stores in the .United States. Backed, by ample capital (over $7,000,000 cash on hand on December 31st), and managed by tho same interests that hare made the UNITED CIGAR STORES COMPANY so successful and profitable) an enterprise, we recommend U. It, S. CANDY STORES, in the confident belief that in a short time this company as an investment proposition will rank with the very best se curities in this country. Wrlto ks for 'more information, if 'you (crested. definite arc in' BAMBEfl6ER,L0EB&G0. 25 Broad St. New York There wa3 no special change In specu lative conditions In yesterday's stock market Trading was dull, and tlioro waB no settled prlco tendency cither ono way or tlio other. The market did not move enough. In fact, to enable tho average trader to pay commission on his commitments. Tiiero was eoms satis faction In tho fact Jfcat tho bear party was not able to mako nny progress on tho c'elllnjr side, but It must have been very discouraging nevertheless to tho constructive Interests to watch the mar ket Ignore such Important considerations as tho 'settlement of the Steel suit and the signing of the railroad bill, There wan not the slightest evidence that Wall Street I paying any attention to these consideration?, and If It had not been for the brief rally on account of tho Steel decision In Monday's session it would havo been a fair Inference yes terday that Wall Street had decided hereafter to Ignore alt developments which may have an encouraging bearing on security prices. The reason, of course, that Wall Street la paying so llttlo attention to the favorablo side of the market these days Is that thero Is no money to tlnance speculation. Even If there was a dis position among traders to buy stoclcs there is a question 'whether much could bo done on the long sldo under present circumstances. But It was encouraging yesterday, all things to the contrary not withstanding, that prices held as well bb they did. It meant, according to some interests, that while the market may not pay any nttentlon to constructive devcl opmcntH at the present tlmo stocks nr being purchased by Important people with a view of holding them until Wall Street Is able to do moro on uio nun Ride than It is at the present time. Tho victory of the Steol corporation Is con sidered ty au conservative riuujuam equally as Important as tho passage or tho railroad bill, but with money toanlng nrnimrt 1ft tier cent, and hard to get even at that figure It is dlfllcult to get a fol lowing In anything except, or course, on tho short side in stocks that are going down. . That was tho only aide yesterday in which traders could got a following, and it was only in a few stocks at that, namely, Kndlcott-Johnson, the leathers and American Woolen. These stocks for tho most part have such smnll floating supplies and so very wide markets that it Is a comparatively easy matter to get thm down four or five points In a sin gle session when the buying power hap pens to be limited to short covering. As for the rest of the list, thero was not cnoush In it to pay tho average traders for coming down to Wall Street at all. The extreme fluctuation In .Steel common all day from the opening was only a point. Thero were many stocks, o. course, that fluctuated much wider than 5tMl hut even at mat It looit u. tw ini,MA fibular Indeed to get a clean tiolnt and commissions In yesterday's market. Even Ccnorat Motors, which usually leads the wholo list in the matter of fluctuations, had a much narrower range than usual. In tho leathers and American Woolen there . shorn declines, but most of the Irolv nrofesslonal. The money market disappointed Wall Street because It held at tne earno ng Mondav for opening and re newals, but not conservative Wall Street. The 'banking community has maintained all along that there can hardly bo any easing In speculative money until tho noni: if thft monev difficulties occasioned by the March payments and by the ar rangements for tho March 15 tax Instal ments are out or trie way, anu wwku as tho worst of this will not bo over until tho latter part of the week It la haro to see how traders can expect any real Improvement in money. It Is, of course, possible that money may relax slightly because of the lack of demand, but as for real Improvement that la out of question until the latter part of the month at least. Tho improvement con tinued in the foreign exchange mantel. but speculative Wall street paia no ax t.ntion to it for the reason that It fee- llevea that the Improvement at the pres ent time Is not permanent, out is cue only to short covering and to sales of security In this market It la contended that thero will be another sharp decline In exchange beforo tho trading Biiua tlon can bo eald to be improving. MONEY AND EXCHANGE. NEW VORK STOCK EXCHANGE PRICES. 'Tuesday, March ,2, 1920. 1920. 1919. uays sales ,,,, Tear to date r-ClWlor.-, Bit. j it. Sales, 83 10 97 8 57 10 3 100 200 ' COO 200 1600 200 100 COO 200 1800 100 500 100 700 1C00 3200 100 300' 1700 100 200 B9C0 800 1500 100 200 200 300 100 1400 1100 1700 21000 200 2200 too 400 100 700 400 300 100 31500 100 7300 100 100 500 100 9400 100 100 10 100 400 too! 400 1400 2300 3500 1100 430 600 1000 ' 100 900 I Adams Express. . . Advance Rumely... Alaska Gold M Alaska Juneau O M Allls Chalmers Mfg. Am Agri Chem Am Bank Note Am Boot Sugar Am Can Am Con pf !Am Car & Four dry.... Am Cotton Olu Am Druggist Syndicate, Am Hide & Leather Am Hide & Leather pf . Am Ice Am Ice nf Am International Corn. Am La France Flro Eng. Am Llnsoed Co Am Locomotive Am Ship & Commerce, ,Vn Smelt & ucf, Am Snuff, dm Stocl Foundries.. Am Steol Foundries pf. Am Sugar uef Am Sugar Ref pf Am Sumatra Tub. ...... Am Tel & Tol Am Tobacco Sec ,m Woolen ., Am Writ Papor n( Am Zlno. L & Smelt.... Am Zim?, L & Smelt pf . Anaconda Copper Aasoc'd Dry Goods 1st r Atch, Top & Santa Fo,. Atch, Top Santa Fa pf. Atl. Gulf 4WIS8: Autosalcs , Baldwin Locom Wits pf. Ualtlmoro & Ohio Baltimore & Ohio pf . . . . Barrett Co .. Bethlehem Motors Bethlehem Steel S p o pf . Bethlehem Steel B Booth Fisheries Brooklyn Edison Co... Brooklyn Edison Co.. Brooklyn Union Gas. Bruns Term & It It.. Butterlck Co Butto Copper & Zinc. Caddo Cent O & R..... California Pack Oo... California Petrol California Petrol pf... Canadian Pacific Case, J I. Thres M pf. Central Leather 1700 Chandler Motors 1300,'Chetapealte & Ohio... 100 Chic & E 111 pf Ea Tr ( 700 Chicago Gt Western , 10! 10V4' 10 lOOIChlcago Ot Western pf.., 26m 26V 26 94,810 25.662.325 25 Sr. (Til est I in. 7 30' I 30 30 30 . 39 40 39 40 . ri 1 1 1 . 2 2 2 3 . . 38 39 38W 38K . 88 86 80 86 . 41 41 41 . 79 80 79 80 o 109 109 109 109 . 43 43 41 41 . 97 97 97 97 . 130 130 128 128 . 40 40 40 40 . 12 12 12 12 . 19 19 18 19 . 90 93 90 93 . 40 40 40 40 . 63 59 GO? 53 ,. 89 90 89 90 . 13 13 13 13 . 77 78 77 78 . 93 93 92 92 . 19 20 19 20 . 00 60 63 59 . 103 108 108 10S . U 41 41 41 . 91 91 91 91 . 124 124 124 124 .110 110 110 llfl, . 82 83 82 S3 . 97 97 97 97 . 66 56 65 66 . 118 118 114 115 . 41 41 41 41 . 17 13 17 18 . T3 53 52 52 ,. 56 57 56 57 t. 67 67 67 07 . 82 S3 82 82 . 78 7S 78 78 .143 143 141 142 . 13 13 13 13 3 109 110 108 108 . 100 100 100 100 . 36 37 36 36 . 43 43 48 48 . 115 115 116 116 . 21 21 21 21 . 110 110 110 110 . S5 85 S4 84 . 10 10 10 10 . 94 9-1 94 01 . 95 95 95 95 . 13 13 13 13 . 52 53 52 53 . C 6 6 6' . 19 19 18 19 I . 9 9 9 9 . 25 26 23- 26 . 19 20 19 20 . 74 75 74 75 . 33 34 33 34 . '67 68 66 63 . 119 121 119 120 . 98 9S' 98 98' .79 79 I 73 77 . 46 47 46 47 j , 122 122il20 122 I . 56 57 66 56' il S 8 I 8 8 1 1913. 279,226 -Ret" Qua. 3 1 tt 1 1 1 $ 14 4- GOSSIP OF WALL STBEET. i u 7 H 1 i 4 1 A Hundred Share Market. Wall Street Is am'uslmr Itself by eel! log 100 sbaro lots of stock to Itself, and i men buying it back. The total result is that tho trading furnishes amusement and thrills and keeps the mind of the Street oft ot its Inoome tax problems, but that is about all. It is not a lucra tive business. Very, very few transac tions on the tape yesterday wero any thing but 100 share trades. Practically : vn ka atl of them were professional. The gen-1 91 00 ABM, 1 . . ' uu ijuuiiu 10 tujtiug; uusoiuiciy no in terest In the market Even floor traders are complaining that they cannot make a nickel. Two big factors on tho con structive aide, tho return of the rail loada and tho Supremo Court decision In the United States Steel case, were al lowed to go, by without giylng tho mar kot a decent rally. Just what sort of rews It would tako to turn tho market squarely about and start It upward can only be guetscd, Probably tho announce ment of 6 per cent money would do It cn quickly as anything else. BONDS IN NEW YORK STOCK EXCHANGE Tuesday, March 2, 1920. 1920. Day's sales .,6M,000 Year to dat 681,798,000 RANGE OF LIBERTY BONDS, Closing. Sales (In Rid. Asked. Yield. Jl.ooos). 1919. $13,483,000 665,368,000 Money Continues nigh. That money will eato to C per cent appears to bo but a glimmering hope, at. most a hopeless hope. The rato con tinued at 10 per cent, all day, although there had been opportunity for a slight relaxation, duo to tho return to1 tho banks of funds with which Slarch 1 divi dend and other 'settlements had been made. Few peoplo In the banking world can eeo anything but tight money until after the JIarch 15 Incomo luxes arc ",s pettieu. Tho peoplo of the United ' States must nav' th flnvornmont mn.-,. than 11,000,000,000 for 1919 taxea be tween now and March 15. Undoubtedly trcre has been much liquidation of se curities for paying the first Instalment of these taxes and It scorns logical that moro liquidation will occur for the same reason within the next fortnight. 05.10 90.30 S0.0O P2.S0 90.00 97.30 97,30 95,48 S.78 90.40 '4.61 S9.90 9L20 90.03 99.00 93.34 90.10 07.40 07.40 4.71 4.81 4.99 6.45 CIO S.50 4.40 ma .m n n32.47i... 29 later. (lass-;... 449 2d 4s (1927-42) 89.30 67 lstcv. 4o (1932-47). 90.90 1,654 2d cv. 4s (1927-42). 90.00 .. lst-2dcv. 4s (32-47) .. 2.535 3d 4s (1928)....... 32.23 2,553 4th 4s (1933-38)... 90.02 1,450 Vic. 4a (1922-23)... 97.26 1,770 Vic. 3s (1922-23)... 97.18 Open. lUsh. Low. 94.90 95.R0 94.90 90.40 90.00 90.00 89.30 9L30 90.90 90.34 89.90 1918. . $3,071,000. 204,327,000 Net Last CbffS. 95.60 .60 92.68 90.46 97.50 97.48 92.20 90.00 97.16 97.16 90.40 89.94 91.20 90.03 ,92.30 90.10 37.32 97.40. 4.20 .44 .30 .04 .03 .04 A4 United States, Forelan Government, Railroad, Industrial and Otbor Bonds. ADgiorrtnch u 4 6C7a 40 OMsl R2 6634 CO ',007s it U7 O.. .93 1S.1A tOO 076 -Vi 07 1 OCTg S3 or 07ia 1 1 1 a; v,! Gold Withdrawn!.. i The banir statement this week, always a market factor of considerable Impor tance, probably will bear the brunt for i ( iwo weens' gold withdrawals. Last week's would have made an even more disappointing showing, but for the fact J that gold engaged for shipment to South 1 America wan held up. The ofllclal reason ascribed for the delay was that shipping 'tpaco was not uvailable, which stnte Imont was taken in tho financial com- munlty with a largo grain of salt But whatever the reason for tho delay, this i gold drain probably will show up In this " 'week's etntement. A total of $250,000 2 -gold was withdrawn yesterday for shlp- 1 1 1 2 mcnt to South' America, nnd according to a report In banking circles tho balance pf the Intended shipment of between $12,000,000 and $15,000,000 will bo withdrawn on Friday, 3G00;CllIcago, Mil & St Paul.. 3S 2000 Chic, Mil & St Paul pf... C8 100'Chlcago & Northwestern.' So 22600iChicago. R I & Pacific... 38 1 t J.K.Rice, Jr.&Co. Will Buy 10 Anscn C'omiuuir 95 Amtr. Machine A Foundry 100 Amer. Dl.t. Tel. or , J. SO American Piano Com. ' SS K. W. nilm Com. 8.. ColmnblH TriM SO Umpire Steel ti Iron I'fd. . SA Great Amer..Ini. Itt. iO (lodchaax Huiar I'fd. 100 Limit Locomotive Com. 50 Norwegian Ararr. K.S.) Lin 51 Notional City Bank 100 Old IiomlJiton Land 10O Jloyal Typewriter Com, 15 Itomo llnm & Copper SO Texas Pacific Coal It Oil 13 Victor TaUdov Mjcblae J.K.Rice, Jr.&Co.Will Sell 10 Anaeo Company 20 Amoc. Dry Ciooda 2nd Pfd. CO AUaa Portland Cement Com. 10 Alotnlnofu Co. of Amer. ,100 Jlordcn Co. Com l'fd. 25 Bankers Trait ! '100 Ktttmaan Mafneto rfd. 10 Ftrt National IMnk 1 300 (Jeneral Ordnance CO Great Northern Paper mi rinlf tunnlna- 50 (lodchaax Hucar Com. SO Humble Oil A Bedding S3 Meeh. ft Metala Dank "Rlf bU" 2S4' NlrtioU Copper Com. SO Texa Pacific Coal ft Oil ' i J.K.Rice,Jr.&Co. 5 Plionei 4W. to 4010 John CALI, MONEY. Mlictl Collateral. I All Induatriila, Hlsh w JHira .... han 10 I Low Last 10 (Lut Renewils m iHeuewais Tear hlh 25 (Vev's hlth. Te3r' low 6 Teara lew TIME LOAK9. All indeitMils. Hxtr dars Mnety dan Mixed Collateral, SUtr dr t Ninety dir... Four months. Vive months.. Six months tVipoar month!., Plre monthj.. Hlx months .19 ....IS ....10 ....is COMMERCIAL rAPF.lt BlUt Prime Indored Kccelvable. Sixty diTJ VHP Slnoty daxB.....S7 Six months CU8T Other Names. Three to tlx i months :i8i Clcarinir House exrhaoxcf, tl.0U.M0,M3; bal ances, t lt.ePI.SiO ; Bub-Treaaurr, credit bal ancM, tXl: rederal reaerve cfeait balance, tJT.el.STJ. DOMESTIC EXCHANGE. Boston, pr; Chlcarn. par; St. Ivouls, S3 IZc discount: San Frandico, pir; Moatreal, SU1.29 per ll.OM premium; Cmclanatl, par; Minneapolis, 10c. premium. EILVEIt PJIICE9. ' Br allver In Kew York. I1.SJ. up ?Je.: In Tendon. S3Sd.. oS Hd.! Mexican dollars, Jl. Mi;, up iia FOUKIGK EXCHANGE. Sterlinr Demand. Cables... Franca" Dema&d. Cable 11.15 Marka Demand, Cables.., Normal rate of exch. 4.S4(S strrtlnr iE.lu Parli ... 3.s Marki ., 5.1JU Be'rtura Cntui nirh. , 14.17 l.K l.M liBW. IJ.U S.UV, 11.23. 14.2v Lilt. U421; 14.71 14.13 Prer. close. $S.44U Z.O 14.50 14.18 1.03 1.03 1.03 1.03 1.04 1.03 Yesterday's Oote Domand orCbeeka, Vzn 4Q. ZiM 43.14 M.W SI Wall Bt., N. T S.1S13 ten jlongkoor ,.. Sbanrbai flreeea Holland Indla- Sombay , Jsoan- Tokohama rhillpptno Islands ilia 14.11 1.04 13 Ci 1.K 4S Cables. 14.U 1.03 1J.C9 ta 1LM , . 93 43 C3 54 " 41 11 I 57 81 19 25 10 81 194 41 79 170 170 7 14 11: 20 100 14 23 69 85 29 125 35! 23 15554 23(5 71 S3 6Si 92 77 36 30 BC i 13 70 16 32 68 I 88 101 37 400 Chi. KU Pacific 7 p o pf 1300 Chile Copper J 400lChtno Copper 100 CJev. C C & St Louis pf.. lOOiCTiiett, reahodv Co... 100Cluett Peabody 4 Co pf. 2600'Coca-Cola 300'Columbia G & Elec. rtiti uv:vauij4Uii vr k xica '41 noOlColumbia Orapbophono..1 41Ti GOlColumbla Oraphcphone pf I 80 lOOfConsoIidatcd Cigar I r7 'nn rAnen rlsrnfl Cla 21 3CO0 Con Interstate Cal Mln Consolidated Tcxtilo Continental Candy. corn .rroaucis iter Crucible Steel Co Cuba Cane Sugar Cuba Cane Surer pf Del, Lack. & Western.... Lack & West s 30 f . uenver & tuo uranae. . . . Denver & IUo Grando pf . Dome Mines Elk Horn Coal Corp.... Endlcott Johnson Erie Erie 1st pf Famous Players-Lasky. . Famous Players-L pf . . . . Federal Mln & Smelt pf . . Fisher Body Corp Flslt Itubber Froeport Texas General Cigar Co General Electric Co 41 11.30 ltea i;. 15.10 Gillette Safety Razor'&y 'tfoxton. lacheiilKaclL & Ca Afl nrtwd Slrift. r- "Kw"V&a-l(U SaccfM mcorr nutAoiWHMi tersssaatt Man! Italy , Scandlnarla Stockholm , OvMlania Oooenhaten , SouUi America Ttlo , Arvrntlna (rold) Bacnoj Aires Spain iinltzcrland ....... rntsuay Titisla (Currenej) ICO rabies , HO rubles TIME BILLS ON LONDON. Danker. I Commerslal, CO dajt 43.SWIM dara... VtA 1.C 11.13 1M 17JO i:.oo iX", i;.s: t.17 1.01 SJM s4)t4M 4 ....I 7S ln..f 13 38 58 5 3S$ 65 76 17 33 68 88 101 37 63 SO 67 81 19 10 I 7' 3S 57 57 1 ti 8J 37H 65 J 85' 375 63 76 I 76 I 16 16' 32' 33 ! 68 t CS SS I S3 ! 2 21200K3eneral Motor Corp I Oencral Motor Corp deb. Gen Ji forp deb pf 7 p c. Goodrich U V ,.. Goodrich B F pf Great Northern nf Great Northern Ore etfs. Ucndec Manufacturing.. Haskell & Barker Car. . . . Hupp Motor Illinois central Inspiration Con Copper. Interboro 'Con Corp Intcrboro Con Corp pf.-. Int Agri Corp Int Harvester Co pf new. int Mcr Marine Int Mer Marine pf international Nicicei . . . , International Paper...., Iron Products Corp Jewel Tea ..." Kansas City Southern.., Kelly Springfield Tjro.., Kelly Spring T 8. p c pf, Kcnnecott Copper Keystone Tiro & Rubber Lackawanna steel co. . . Loews Inc Loft Inc Loose Wiles Biscuit Louisville & XashvUIo... Mackay Cos , Maxwell Motor 2d pf ctfs. IG&Vil 10 6500 Mexican I'etroioum Miami Copper Middle States Oil... Mldvale Steel & Ord Minneapolis & St L, now. Mnn. StP&SSM.. Missouri, Kan ft Tex Missouri, Kan & Tex pf , Missouri Paclrlo , Missouri Pacific pf , Montana Power pf , Mulllns Body National Acme Co National Cloak & Suit. . , National Conduit & Cable 200.National Enam & Stamp. Natl Enam & Stamp pf . . Nat R R of Mex 2d pf... Nevada Con Copper New Orleans, Tex & Mex. New York Air Br ex div. New York Central New York, Chic & St L.. New York, New H & H,. Norfolk & Western Northern Pacific Nova Scotia S & C, Ohio Cities Gas -. Oklahoma Prod & Ref.... Ontario Silver Mining-.... Otis Elevator Otis Steel Owens Bottle Co Pacific Gas & Electric... 7500 Pan Am Petrol & T. . 30o: 3500 300 2900 -3300 . 100 400 3700 300 100 100 100 100 100 200 200: 700 100 Pan Am Petrol & T B. .. . Pennsylvania R R Pcnn Seaboard Steel.... People's Gas, Chlo Pere Morauetto Pore Marquette prior pf.. Phiiaucipnio, co Plereo Arrow Motor Picrco Oil Corp nerco on corp pr Plttf.CC 4 St Lculs.... Plttsbur? Coal of Pa.... Pittsburg & Wen'. Va.... Pond Creek Coai Pressed Steel Car Pullman Co Punta Allegro Sugar Railway steel Spring pf , 26 10 81 195 41 79 171 170 7 14 12 20 103 14 23 69 85 30 123 36 2S 64 157 23S US 86 67 92 78 30 67 13 87 51 4 13 16 111 31 82 20 72 38 16 17 107 99 28 30 07 26 19 51 103 66 20 168 21 33 44 17 73 mi 16 30 47 99 41 86 67 3 70 99 6 14 44 95 71 83 34 93 79 64 42 6 7 120 . 28 64 46 82 76 43 24 36 29 60 85 D2 17 92 64 54 28 17 93 114Ul4U 77 77 104 101 101 1101 I 36 36! C3l! 53 ' U 41 SO SO ( 57 57 I 78 SI 13 19' 26 J SJ-tt HU?4 8iK f 26 j 26 nigh Inventory 8tncka. T?ant fit , V, & ima.Mfam.nt nnA ..nanl " I weakness In such stocks as Kndlcott- Johnson, Central and General Leather nnd, Amorlcan Woolen Wall street sees dangers which confront these corpora tions because ot tucir tremendously uign J i inventories. Tho motor stocks are In tho same category. To keep pace with competition they havo been obliged to lay In hugo supplies of raw materials at very high' costs. As an Instance, the increase In Its capital stock which the Willys Overland Corporation has mado may be laid largely to the fact that it Is oblisred to carry a $40,000,000 Inventory 1 of raw material?, Bteel, leather, wool and tho like. These corporations, which have been obliged to lay in such largo supplies of raw materials, of course, would bo very heavy sufferers should tho I predicted drrp In prices become a reality 3 within tho next lew mourns, 41 SO 171 170 7 14 12 20 103 14 24 70 80 30 123 .16 2t 04 157 238 S6 67 92 78 36 30 673 13 87 52 4 13 16 111 31 S2 21 73 41 15 17 108 99 28 31 68. 26 19 51 103 66 20 169 21 33 46 18 73 10 16 30 47 93 41 36 68 9 70 99 6 14 44 95 73 32 34 94 79 64 42 Sit 120 28 64 46 82 76 43 24 40 30 66 36 53 17 92 64 5i 2S 17 S3 CoHtfiKtc on Following fags. 41 I 79 171 170 7 14 12 i'Va 99 14 23 6ST, 85 30 125 35 23 64 156 233 70 86 66 92 i 36 30 67 13 87 014 4 16?i 111 31 82 20 72 38 15 17 107 99 2SVi 30 67 26 13 01 103 66 20 166 21 32 17 73 10 16 29 47 99 41 36 67 9 70 99 5 14 44 94 71 32 33 93 78 54 41 5 7 120 28 54 46 80 76 42 23 86 29 66 35 61 17 P2U 64 54 2S 17 92 114 77 104 41 80 171 170 7 14 12 vva 101 ?i 14 24 69 80 30 123 36 24 64 156 i'Jt- 71 86 67 92 3C 157 13 87 51 4 13 16 111 31 82 21 73 41 16 17 108 99 28i: 30 67 26 19 51 103 66 '20 167 21 32 45 17 73 16 29 47 99 41 36 68 9 70 99 6 14 44 93 71 22 33 94 , 78 64 42 0 7 120 28 54 46 82 76 iV''1 23 40 39 66 563 62 17 92 64 51 28 17 93 .114 77 101 2 vs "' 3 ,8! T4 1 "H 1 " It "a 1 1.', u 3 1 1 Motor Cnr and Fluaiiec. The Immediate future of the automo bile buslneea at least lies In keeping de mand at Its present peak. Manufacturers scoff at difficulties. Their hardest Job is to supply tho demand and their roar Is for more and more raw materials. But the banking view of tho Industry cannot be completely Ignored. A few banks ex press the opinion that the automobile industry Is taking up moro than Its share of capital. Hero is the view of the National City Bank, as expressed In Its monthly bulletin for March: "Whether," says that bank, "the automo bile Is regarded as a utility or a luxury,' and It falls in both classes. It is dlfllcult to believe that It can continue perma nently to absorb capital at the present rate. All or tne leaaing prouucer uic enlarging their capacity and tho Indus try la a very Important factor In the conramptlon of steel, cotton, leather and ether materials, not to mention labor. The vast production of car, like the enroious Increaso In tho production of silk goods, Is a symptom of the time, an evidence of tho widespread distribution of purchasing power. The rich and. so called favored classes are an Insignifi cant factor hi tho consumption of this great outpouring stream of consumable goods. The consumption of the ,masses Is on ai scale never seen before. It is common testimony that they are buying goods of higher quality than ever before." 23. o... 10... 12... CO... lit:: 35... 3... SO... 24.1... n... 2... City of Bor- ueaux u r, SOU 10 S97 or ..0714 ..oris . .0711 ..078s ..S7U ..0783 ..071.1 ..978! ..0718 ..Oil Japanese U lo. 81 8 OSU r,..30....!7 0...... csia I a30..CRIfl 2 CSU r,.jja..f,8 a Ssd 10. 631a 8..a30...0H a ssit 5..... 3.30. Tokyo Is fi , .0784 .83 P.. NY CltytJt? May 2 003s 1 OO Nor 3 00 .0713; XY City 4KM 1 insa 2 wia NY city h M 10 .SOU, CProtXrons ta ..... .SOU 10 Sf8 8 SOU uty or aiar e!!!a ta soij 10 ssas 89U uty or rans 5. 2. 1, 1. 9012 003(1 sola ,pou 001a a dou 2 OOlJi I'MtedKhifdoi Ma Ml 1-. 10, u.OWs AtnT&T clt 4a ...OKl) 1 7778 ...va 1. 18 ...OCUlATJkSFcvto VSlJ, 7 03 NY Citylfcso 10 061s NY City 4UM 4.v. ....SO NY City iJ 54 KOV II.. 833j Am Agr cv si 2 0678 3 07 Am Ait deb Is 3 91 AoSmelt&R Cs 3 S13j nT T cv s 3 0Ul 13 V93 4 90 AraT& r clt u 12.,. 3... 20... 22... 1... IS... 34... 30... 10... 10... 40... 10., ..04!j 13 SI- .910.10 14 8OI4 ..0331 ..on ..0M ..oau ..Pt3 .OS IVj im rcta 07 03 8. 01 10.......9312 10,.'. ....83 IKsltHrrtJ iteo 1 S434 4 83 AT&SFgents 7. ... 4... 0.., S,., 1.., ...7 ....7S79 ....76-14 ....7678 7Mn ....7KUl Cent of Oa Ca 10 00I3 1 01 Ccntl'acIOc 1st 2 73 0&OCTM4I 0 70 0 701s 1 793g O ft O CV IMs 1 75 0 7413 1 747g 2 .76 Co fa Jt O iiii 1 743g 1.......7I88 Chl&Altoa H S..1....31 7.a30.,32 4 S3lj 1 33U 3......U3 CH4t) Joint 41 1 OtU 2 PI 12 Ollg 2 04U 1 .....'.91 2 OII8 II 04U 2 041a Chi Gt, West ii 1 A3 Chllnd&Lou !i 1.. soij CMiStP cv fa 3.77. . . .72 c M & Bt r cv 4s fi 721g 4 723. 0 it & st l' ta 4M 4 61 4 ecsg 1 OO O M & StP dob is 1 oils ChlMlliStP 45 1 03 1KJ 8 771s cN Wmiii s 01 OA N Wgin 43 IB 75 ChIBI4Pref4t 2 IS 4....-...0Ma 1 SM4 2 68S. is j .OMa u UK OalTJartlflan A MexATBCM 4 87 Uud & M fdg Im Oerles A 8 G57 Hud a; Man ..IBli 4.. 1.. 8.. S.. 7.. 0.. IS... 5.. ,787a rhl nn Ptn registered 2 7S 0. ' OU' CM Wind 4s la 91 0 S9S4 00 iKalCT ..OCIs AtCoaatLIno is 3.. 1. ...SO ...854( ...SS ...8M ...S6 ...8Sls ...6 ...8i7S ...8.VU Dm Canada tJ4' 1931 5 07 Dora Canada la 1931 8.. 2i.. IS.. II.. 30.. 10.. 1.. ..., 1918 0 IK) 1 8..... 10...., 2J 1UI 3 2 1 20 10.. ,.7 ..923i ..907g ..0358 ,.931a ..93S9 ..Olia ,.9I7H ,.015a .'.911a 9133 Rep of Cuba It mi 1 9013 3 01 Argentinean (t 4 71 CblaeseUon M 1 431 2 JanaseselatiHs 3 7178! J. 4. 3 711J 1.. 3.1..l30...71ta in 73 111..S7O...T113 IS 713i 20..lt0...713a Jataneav zailis 2 72 2..;. ...71 S..S30.. .70.14 ' 7 71 4 74U 1 734 narasnnLoooAs 3 OS Bait & Obis 8s 15., 3.. 1.. 13.. 2.. 10.. 1.. 20.. ..84ia! ....S3 ....84ia ....84U ....sua . ...4'4 ...,M3i ....84U s sua DfiUrs lHi 1 es S ,C478 0 .0418 S C4 1 tM78 4 S3 II fc O CT 4Ks C4 10... 1... 1.1. S.. 15... 1 CO Chile Copper"! 2 103 4 101 4 ICO-ti 6 1001a Chile Copper 8s 1 70 Col Bo ext iVj) 2 701a ColoBoutb 4a 1 821a COO UtS t-JT Ti 2.. 65.. 13.. ..10AU ...10018 :..ioou ...10013 ...lOOlg .IUO 25.. 20.. Corn Prod tell 1 90 DeliHudcvU 1 SIS 0T8Dcl4!nudrf4s ji.! 3 781a rF Daa&ItloOia DaJti'o KoidsJ Dcni'lioVrf Ca 2.::::::e3iii .vir 0314. S 031a BaltiOhlo H 3 S3U 1.1 82 S 817fl Balt&OSW SKs 4 71I2 nalt&OFIjE w Va o 1 CSia B4tOT0jar4S 1 4P78 nthsti cs mt 1 84 Bltn Map Tr 8s .30 Dim UnEl 1st 3 63 Busb T Bld t 2 78 Cal Gsadt r.ta 5 S47a 3 848s1 1 41 1 4Ha Erl 1st con ii 1 043t S 53 1 3Is 11 53 ft. SW4 Erie cv is aw A 1 387g 3 381a 3. 383g 6 S918 ' 2 3la t 1 39 11 391a rlecvijacr 1) 11 437g Erie gen ta 1 47S 1 4434 13 44 12. 4a .lla ..I93g ..iu ..1834 ..I8ia ..183j ..i8ia ..IS ..17I2 ..1731 ..1713 III cent is im 1 CD III Con it twl 2. csia III Cea rf ia u 2 72 111 Ceo 3M 1S3 8 6384 Indlaoa3tel 8a 2 01 Interb B T ref (SlMt 2 630i 29 531a1 1 5331 43 b4 3 03I4 5 5312 intcrboro-Mel col trust 4K S IB latUMotineU 1 88I2 lowa Centra I u 7 4112 KI.113 OS 31 CS 1 OS anC Bo ref h 5 70 Kan City Tor is 1 704 L H i M S IKa 4 09 Uhigb Va! ta 1 100 0 inou 1 100le 1 100 UhValccn4Hi 8 70 Ucgett ft M ta Z SS Long Itt con Ca 1.....'..87 Urns lal met is 2. 641a ixu Aasn u 0 soul 2 S07g 0 81 2 8lla UNAKsOto; 1 C9ia Mldvale Etl 8 1 833g 2 83 MU LBA Witft Mich dlT 1st 1 0t8 uiaartLiagas 10. 49 M.StPi33 M 4a 1 78.1a HoKanft Klit 2 3S Mo E ftTcz is 1 671 Mo K&Texb 18 32 Mo Fac ta ir.t 3 8j)2 sio 1'ac (a IMS 1 821a 510 i-ac cm 49 3 557, JU. OiOg 5 55 0 651 a ID OWs 0 5534 vom i-wr 1 85 Montrl Tram Ss 1 70 Nat Tube It 2 00 XeirOrlTerliA 1......UII1 N Y CtodebtJi C. 0234 B e23g i uzat 10 02.-fl 17. 92l3! r. x ua iu 10 7C3i a .75 3 7ob 1 7513 3 7js x iracK M 2 03 NY Qu ELt H ftPts 83 N Y Can IVa 1 641a 1 647(j 4 o, NYChliStLiJ 3 70 VYOftStLdbiJ 1 681a NYOU ELt II ft F is 2 eiaj 10. oz N y" ii it nffltLft BinPran irr ts 2. 7S NY Ost ft W la 2 B07a N Y Bys adj la 2, 7 ccrtUeatcs 4 Clg n Y Tel 0 Oil 4 01 1 9334 1 ..0312! NY TelgmiHs 70 78Si NYWeatfBecr ft Boston 4s 3. 43 Norft Wgmts 1.". lOl Norf& WctCj 2. 101 ortneral'ae 4s 23 7413 4 71U 2 741b 4 741a r-ortnernraccj 1 M 1 5tl8 i..aso...sj or ft Cal let s 1 01 3 Or fill L Me 4 1 sola 3 S05g 3 RC12 3 Wl OroWaaa' RBft Nav ref is 3 63 raelflc Gas 84 1 7Slg ii 7g 10 7819 1'ac or Mo ta 1 70 Peana (s 1H8 1 8ila 7. 8T78 ........ W-li 10 SRW rens rra f ) a 4 8H3 1 siaj BtLftBanTraO dje 2.,.-.... 631a 1 031s 0 63 1 03U 1 63Sg 3. 631a 10 03 22. 631a 4 C3 3. S3la' luces ? 11 47E4 34 i 5 477a BtI3U!sSW 1st 631a StLouIsSW S I 1 571s 4 07 . BtLSW con is I 1 0 4 54 StPftECSLihJ 1 01 BanAftAPassi 2. 55 10 6519 seaud A I. aai 3 40la 10 40 1 403g 1 40 BoBeUT&Teies 3 83la Boutorac cr ta Cochrane Harper Ill BrotrJway NEW YORK CO Sut St. BOSTON Invincible Oil Corporation Vp-to-iota AnatytU of Com penti Position eni ProtptOt on Repast. WEEKLY LETTER aiflngcumntneirf anddevtlopmtnter . INDEPENDENT & STANDARD OILS Furnished upon request. 3 20.. 20.. 10.. 20.. 10.. B.. .Ill's . .1UI ..IOII4 ..1013, ..loiia ..10134 .101 BouthPac cv is 1 70 3.ea..rsia 10.J30... 7834 1 79U 5 78t 2 70 2 70U BoDtbPacref is 4 74,14 7 741a South Pas ia 1 671J 3 68 3 071a Foutbcra By Ss O S478 4 845n Bouth By em is 0 57U 14 5734 3 578 We Will Bay Liberty Bonds in $50 $100 $500 DENOMINATIONS end will pay the prevailing prices for Thousand Dollar Bonds on the New York Stock Exchange plus occrued interest to date, less 15c for $50 bond, 30c for $100 bond and 50s fcr $500 bond. Cn the above (basis we paid the following prices at the closing March 2, 1920: J50..3Ks...... $50. .2nd AX $50. .3rd 4Ks. i50..4th 4is, $50. .Victory. 4tfi ..$47.93 45.16 46.99 45.72 49.03 ? '?L'a ToxftPac 1st Is Pcnna'iKs !-. 1 07U Pero MarqbA 3 851 2 Pero Marqli B 3. 71 i Phila Co cv Cs i:i 1.. SlSt 3 871g i' iiruiam 7a 2. 110 Beading cm is 10 79 BloQrandaWis 7., 6978 BloOWcottrls il 4g BlArlf&L 4Ks .0118 . .OIU . .Cllg ..f.03l ..ona ..oiu 1 a..... 2 1..S30. 2..... 10... , StLftlronMCa 1 871a BtLftlronMi .1 73U ia ...7 BeabdALrefa 1 47 StL ft Ban Fran Serlea A 4 68I4 3 sgsa 1 1'S 3 SSSg 4 6SU 1 S83g 1 OBia u as Stb ft Sasrraa serle B 831a UnlonPaciflc is 4 81 1 82 CnlonPac cv is 1 8'U 1 84 V Union Pacrera 2 72U CnltodBylnvSa 1 7013 CBBealty&I 81. 3 75 Cn BR SF rd Kq Trust ctta 1 24 Eq Trust ctfa 4 34 U 8 llubber ' 3 8334 3 8 I' B Bteel af 8. 07 fiarbliome&Battelle Uemberi New York Stock Exchanrt 25 Broad St. Now York 25.. n 10" ..6SI2! . ..1KU ...C8ia ...esr ...os ...673i ...071" StL ft Ban Fran eerie o 1 86 4.......8OI3 1.. 4,. 4.. 1.. 6.. ...07M ...osia ...07 ...071a ...07U 0.480...903t l..r... .371,, Va Caro Ch 1st 0 0334 Vlrcl UnllySe 3 &25 TJtab Power ta ..... ...Bm 1 sola Wabash 1st 5 873 S 87 Wrrt lid ia 6 62U 8 621a 5 53U Wi Shoro 4s 1 w71 o.......70!it WbftLErnli 2 SS3j rtVUsoa ft Co cr 11 917(1 Wb Central is 1 60 WCSup&DulU 1 63lg BID AND ASKED QUOTATldNS. . T. STOCK EXCHANGE QUOTATIONS. UNITED STATES GOVERNMENT BONDS. Bid. Ask. :. rerlstered 1 100W 101 Ss. coupon 1"0!4 is, rtxlttcred 4a. counon 2s, Panama, 1938, rrzlstered. Ss, Panama, 1938. coupon.... Panama. 193S, rerlstered, 2a, Panama, 1S, coupon.,.. , nauni, ircisiei-i., ,.106 ,.m ..10O ..IWl ..KO , ti ti. Panama couDdn 83 A Cold Embargo. In answering tho rather widespread tppeal for a cold embargo, a banlt which has exported conslderabls sold this year presents this argument : 'Tho miii." tt ava. "which la leaving tho iTnlti.fl States all noes to pay our debts, 4 Pays them upon U.e ruoot favorable . iju terms possible. Vo enjoy tho advan- Jel pnblC wotkg ISi j. tags to-day or muting our iiurunuco uisuict 01 uoiumDia j-wj from tho whole world on'a gold basis I FOREIGN BONDS, whether we arc actually shlpplnff cold Anclo.Prentn Kxtern. 6a. 1K... n mnk nnrtteular nurchaces Or not. If I Arontln Intern. La. 1945 r. nff th uo'.d basis wo will pay tho Canada. Dominion ot. noiea. 1911... f6H mnralv on tho trado bal- Canada. Dominion of. Ba.ua m. f'c""""' " - . - ... Canada. Dominion or. ia-js s.nca to a lew coum. uyv,.. en Dominion of, .., Mlr vnlume Of nurchasoa from them, InuiaHa. Dominion 'ot. 1931., and our purchases even in other coun- jcMnem Got.. Hu Kuj By. Ca. lKl. il tries will be moro or leas auecieu. i s 101 ioo4 101 Mi 101 101 81 81 so . M . W . 97 .97 nil t31i u - -Hi 3 u 1 35 9 true tliat hy auaius; mo jiuum vi Airt .settlements cxecutivo power to place an ombarso upon commodity lrat porta Of an Binas, wiua wwsius 7,rtim tnds of tho country under romoleto control, importations mluht bo considerably reduced, but importations from the countries wnero wo nuvo u verse balances are rjencrally of thlnirs like raw materials and food products, which wo cannot well do without" General Wotora, When Isaued. vTt Tuesday will be settlement day on tho now stocks of tho General Motora Corporation, which has been traded In on the curb for several weeks on a when Issued basis. Announcement was made yesterday that a special clearinc sheet wUl bo provided for General Motors transactions on Friday and that eottlo ments will bo mado on Tuesday. Tha new stock probably will too traded In on that day. nallroad Dividend Proapects. The January statements of earnings of the railroad corporations, more favor ablo than anticipated, and their return to private ownership has started tho woven year period of dividend discussion. Probably one of tha first to resume for mer dividend disbursements and ono on which current rumors In Wall Street aro centred la Ontario and Western, coal properties ot which have been extremely prontablo In tho last few years. A ma jority of this stock is owned by tho New Haven. The last dividend was ono ot 2 per cent, paid In 19 1 8, and It ia sug Cl vested that thn ivmmiiv mav resiim at 97H 73?. 8714 ft K H 8 IS 7 74 C7 91 W ii 13 31 Closlnr prices ot stock In which thera nera no tranaactlans ycstmayi 71 79 SU 89 ii SOU SOU Cuba Extern. S3, aeries A, 1949.. Cuba Extern. 4Hs, 1943 Dominican Rep. Cs.'UM Otr of Lyons U Tr. 6s. 1331 , City of Marseilles IS jr. is, 1931. Citr ot Bordeaux 15 rr. is, mi.... TYnrh. Paris CI II Ca. VS21 , Jantncaa Gov. iVjs. stcrl. loan, 19S. 71Vi Japanese Gov. 4Vi(. M scries, IJU. 70 Japanese Gov. is, sterL loan, ua. i'M japasise, iohio uiy us. w U. K. G. B, & I. 0 vr. CVis. 393.... D5t4 TJ. K. G. c I. 8 JT. 6H'. 15... TJ. K. G. B. ft 1. 10 JT. BH. 192.., U. K. O. B. & I. 3) JT. SHs. 1937.., ilexlco Extern, stcrl. Ss ot '89, 19(1, Mexico Extern, cold is of '04, 1X1.. 93H u Vi 1 this rato. Xo dlsburoements wero mado In 1917, 1915 or 1911. but 1 per cent was paid In 1316. Bid. A sit Adr It pf... 4Vi 9H AJaxBnb... 6S4 n AI Ch M pf M II A A Cb pt. W Alb ft Susq .. HiO A Dk N pf. 45 i0 Am n a nf. 13 81 Am Bk Sh. 83 100H do pf IT. 1(5 Am O P pf.U3S 11? Amer CoaL 8; ACotOUpf.. Amer Expr. 1 89T Am. IJns pt 92 9; .m Loo pf.lCG IM Am M ft O. SOU S3 A Smelt pf. l Am B.Beo A m 82 A Sriutt pf. 86 tO A B Tob pf. 81 S3 Amer Tob.23 t do Pi S3 a Am Tel ft C W B A Wool pt.U2Vj 103 Ann Arbor. 1 Wtt do pf I 2 ADrrGdJ.. 41 do 3d Pt.. ' Assets Real 3tt 3S Aasoda O11.M0H lis At Kir & A s At Coast It. 87 8S AOAWIpf.. 62'i At Uennlnj.uw isn Exports From New York, Wheat. 87,325 bushels; flour, $5,181 sacks; pork, 200 barrels: bacons. 3.- 030.800 nounds: lard. S.291.E00 nnimHi' barley, 71.825 bushols; alcohol, 350 bar- 1 TI hAf. SSI IkhtM.h hums. S.19J inn . t4 pounds: cottonseed oil. 1Q.000 pounds; Sil5c'?(5li do rt. Auto S of. lUtopllsa.., Uariiett L.. do Pf..... Barrett pi. Pcech Crk. Beth Steel, do 75J, .im, 113l X 1 83 103 tt'S 71 97 1U C3 93 10S 2Ji 82 lOitt S3 W Bid. But ft Bsso .. Buff R ft P Chi do pf. Burns Bros.!0) do pt 100 Basli Term. .. CalPxck pLll? Cal ft Ariz. W, Can South.. 4lVa Cent Fdr... 13 do pf. 33 C Leath. pf.103 curt or NJ.m C B A Tel.-lW Cert Prod.. do 1st pr. S4; do 21 pt.. SI Chi ft Alt.. 0 do pt 12 Col ft El ct S CNW nf... 11414 I Cni Pop-4 T lib U Dl r S V H do pt DO CCCAStU... 44',i ClFTCfeHUS Col F S. I. Col ft 8.... do lit of, do 11 nf.. O Comp Tab.. 48 Con Clr pf. "7 Con Can.... 7 do of 100 Con Inaar.. 73 CornPll pf.lM Crex Csrpet TO Cru SU Pf. 91 Clib A EU7.370 Mo pf. 101 Dei ft Bud. S3 lieu pf.... tO?i Del EdlooalOl Det ft HdclOl Det DrJted, .. WmitWaixa . 37 . JtU W4 Dul CS ft A 1U do pf. S Durham II. M do pf. 93-i Elk U P pt 13 Elec Stor...lSO Emer Bran. 23 do pf K Endlc J pf.lCOli Erie 2d Pt.. 1H Fed M ft S 10 Fairbanks. (3 do pf 13 Fither B pt.100 Giston 13 Gen Chem.. .. do pt OS Gtn ass Pt 83 do deb pf (SH Gen Mot pt 7i Gnnby..... is GrayiDarla 31 Greens O.... 33 Golf MftN.. 7 do pf 3!4 Gulf 8 Stl.. IVrt do 1st nf. .. riartmann.. llarvesttr . Hcmcatako. 81 , lot Atrl PI CSU Hlnt JlotT.. .. J do 1st pf. 70 Wfr 1 do 2d Pf.. t J?H Int Nick pf 8S4 Ifjj Int Pap nt. 75 i do pt St.. 73 AU, 0i.t... Vl Iowa Cent.. 5 Jairel T pt. io Jones Tea.. 23 Kan O 8 pt 45 Eajtsr 103 do 1st pf.107 Ktl SipTpt 93 Kel WheeL. 7 do pt SS Kto ft D 21 5 do uf.... . 20 Sreve 9 6.123 do pf. 95 Kress S II.. 73 do nt irt. Laclede Gu 43 Lake EftW. 0 do or. si Lee Tire.... 30 Lehlth Vat 4 Lirr ft M..157 do pf 103 Lcrillsrd ..ISO do pf. 104 L-W 1st Pt 93 .do 2d PI..1M Manhattan. 13 Man Beach. i Martin ry.. Man Shirt.. ZF& llsckarpt.. w Man 3ujir.l07 Co ot 85 Martin R... 53 Math Alt. 29 Mar Dep B.U7 do Dl 104 Maxull.... 27 do Kt pr. 50 do 2d Pf.. 204 Mer ret pf s Tk'Ich Cent.. 83 S'SKMpf... 91 MS3.MLL... t Mor ft Es.. G3 Hon Pow... S3 MuuiLsnpr 7 NOt BtUltO Not Aniline 33 do bt. 81 Nat BiicutLlM do pt. 11A Nat Lead... 7i do pf...,..Wl5i Nat OftS pf 93 NRMlpf NTLacJtftW H Did. Ask. Ask. S3; u 100 103 103 100 r 81 IA 30 58 103 210 1HV4 10 1514 3 113 CS m 43 W 2S M 41 EO 7D W IV. 7 103 CS SH 400 1W SJ 101 303 108 180 IS 11 GO MOtt 41 133 21 86 11 U0 It 175 99 in 90 79 S7 S3 31 9 SO cc 7 IS 87 ,115 117 tt o!i 120 73 S3 87 109 n 70 7 42 26 4 115 118 95H 70 ts 30 185 107 41 12 SI '54 48 1 1(8 1W 108 1ST 127 'l' 25 30 82 1071J 100 coh 32U 120 110 21 57 27 100 ih iu 81 M 113 111 80 1 103 19 f Bid. Ask. irSTJASLlnf ii "9i PL. N T Dock. 30 do pf....;. is NTiJiW..., 1J4 NlaFF P... .. ,o.Pf. Norf ft S... 13 NorfftWpf, ci North. Am.. 54 Ohio Fnel.. 43 Oils Etl pf .. uwens u pi Pac Coast. 25 do lit pf. CO do 2d nr.. jft Pao Dev.... C8 Pac Mail... 23 Pac T ft T 33 do of. 51 T4 Pariah A n 37 Penney pf.. M i-eona & K. II Pero M pi. 4314 Pet-Mtil.... i do pt. S3 riuce A pf SC't Pitts Cl pi. ts PFWAC pt.118 litis 811 nf 37 PftWVapf. 73 Pr St O pf.l82K Public Herr C3 Rjr Bt fins-.. 00 Rep M Tck. .. Rep Stl pt.. 93 Ren ft Bar.joa Read 2d pf. 33vt Rom 1st pi to Jo 2d nt.. ti Xeplorla Stl 85 ' Mar Anns.. 83 Sears Rocb.215 do pt 114 Slo'3-Sh.... C7 do pi 90 BtLftSW.... It'i Uo Pf 27; B Porto Sur.200 do p( 102 Stand M1U..120 do pt 81 Btew Wir.. 35 Studeb pf,.100 Btrombenr.. 5S Bud SteeL. 41U do nf Ktiv. ita Tex PacI.T)2 300 Third av... IVA Tida W O4U70 Tob Pd pi. 91 TStLft W 10 do pt 18 do ctfs.... IS do D C.. 20 Twin City.. 3) da Pf rndemood 127 da pr. Uo Clk- Sta.lW Uo :i ,- r Va Drur....l2314 1SIH do 2d Df..lS0 TJ B Expr.. 23 Un Fruit... .181 USRub lpf.lWi Utah Cop... CS Utah See... Va I C ft O 78 Vtb pf B.. VfcllsFarao 43 West 1st f fi Wc-t Air IMOt WC1 M tpf It IVest Pac... 2". WVfi Union 6iH WftLE pf .. 21 Wilson.. ... 07 wu 4-er of w Woolworth la do pf UO VfthjlnpfA 3 do pt O.. C3 60 43 37 50 33 101 104 14 8 43 S7 100 49 100 80 70 3 Hi 3'. 62 80H 93 17 1S 0- M llfl M 124 91 103 M 23 43 10OS U7 844 100 99 40 tt 218 us co 93 17 23 218 115 110 94 41 101 trrvj 510 94 15 to 15 22 85 173 1 SI 58 183 2)3 70 tt 83 11 (15 103 ' 21 S5 .r 22 70 i:3 113 95 Graham, Parsons X Co. 435 Chest nut St. Philadelphia 115 Broadway New York Investment Securitios iOeal in and Purchase Issues of Municipal Bono's Bondsi; faotej' and Preferred Stocks of Railroad, Utilities and Industrial Corporations of Established Value Rector 91J2-5 W.F.Ladd&Co. Investment Securities New York Amer. Caramel Com. & Pfd. Nat. Casket Stk. & Rts. Borden's Preferred Amer. Real Estate 6s LYON ND CO. 50P!neSl.N.Y. Tel. John SS4 Alans Express 4s, 1947 Albany Rirar Front fe, 1923 International Cotton Mills 4s, 1929 FREDERIC H. HATCH & CO. Established 1888. Phone Rector 6340. it B'war, New Tork. WIRE CONNECTIONa Boston. Cbtcaco. Philadelphia and MontraaL Inveslmeit Securities R.C.M EGAflGEL & CO. 27Fe aieet-Kew'Vo. MPC.H. M. rUFTAl ft I NAT. IANK "JUGHT8" CLINTON GILBERT BWJtSt.N.Y. Tel 4n48Rectori PIERCE,BUTLER&PlERCECorp. if, rrelerred Btoek INCORPnttATED IIS Broadway Naw Tork City j STUCCt Phons Rector 4490 0 . rf . I af HBMiMiMMMi - - - ' - t.