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THE SUN 'AND NEW YOBK HERALD, WEDNESDAY, MARCH 17, 1920. $25,000,000 GOLD IS DUE HERE SOON Jitlilir Utility rntritifB III Sniuimmij, X. 'c Specialize Particularly in the Common Stock of the American Pr. & Light Co. -American Gas & Elec. Co. ' central States Elec. Co. Colorado Power Co. Dayton Power & Light Co. Duluth Superior Trac. Co. Northern States Pr. Co. Republic Railway & Light Co. Tennessee Rwy.Light&Pr.Co. United Light & Rwys. Co. tale I'!'""'"1 I'hllnd'plilu & llostou 1882-1920 'PilROl Gil more than a .-"icration the lirst l.riiTtp.'L'P bonds safeguarded j" under the Straus Plan have furtii'td tens of thousands of suti tied investors with a perfect dilution to their hive- ti'i'': .t problems. Vr .i dollar's loss not a j,r 's delay in payment in i ta-'i "t either principal or ' -p'v-t for thirty-eight cai -is per cent safety - 4' , income tax paid. j O'.r booklet, "Safety and I Six Per Cent," will tell you BOOKLET D-348 SISTRAlS&OO. TllHHt llll NCOrOMTM i , I K.iUiH AY. NMV YOItlv Thirty-eight years without loss to any investor. Ui'itisli Warships Now on Wny to Hnlifnx With Trccious Metal Aboard. LOCAL EXPORTS ENDED Final Sliipmciifc o South America Is Duo To-day by tho Vaubau. FOREIGN BONDS German Cities German Govt. French Govt. English Govt. Belgian Govt. Italian Govt. nil Details on Iiaitest Farson,Son&Co. V Stw ork S'ork Exchange a Broadway, new lorK Hiitlih gold Is coming to New York via Canada, tlio Initial shipment, be tween $25,000,000 and $35,000,000 of it MtiR due at Halifax on British battle shlpa this week, It wns learned on excel lent authority yesterday. At tho olllcos of J. V. Morgan & Co. It wag eald that no statement would bo mado prior to tho actual arrival of tho Rold. Tho Information reffardlnff tho pending arrival at Halifax of British cold coin cided with the last Important movement of pold to Argcntlnn, tho nctual amount shipped being, $0,000,000 less than had been tentatively engaged for shipment. Tho steamship Vauban Falls to-day at noon for South America with $10,095,000 in gold on board, $1,700,000 of which was jvithdrawn on Monday and $8,305, 000 yesterday. Arrangements had been mado for tho shipment of $6,000,000 additional gold by tho Anglo-South American Bank, but tho arrangements wito cancelled. At a conference of tho South Amer ican group of bankers with the Minister of Flnanco of Argentina regarding the maturity on May IF of tho 5,000,000 and tho $25,000,000 oatis, tho bankers wero told by tho Minister of Finance, who sails to-lay for Argentina via Lon don, that Argentina would, when the tlino should come, do whatever local bankers bjouUI decide to be the wisest step regarding tho maturity. Bankers interviewed yesterday generally agreed that Argentina should pay those, loans In full without recourse- to any refund ing. Tho payment is of course rendered relatively easy by reason of the credit balance of Argentina at tho Federal Be servo Bank. That credit balanco Is not Hiifllclent entirely to meet the maturity and it was said yesterday that gold movements In tho direction of Argen tina are at an end. As tho result of a steady buying move ment, sterling exchange milled nearly eight cents yesterday, selling as high us $3.73 U to tho pound bterllng. Much further Improvement In the rate for Marling Is not expected prior to tho actual arrival of the British gold. rail money loaned us low ig 7 per cent, jesterday, although one or two in stitutions mado renewals at 10 jicr cent. Time money was In better supply, the rata ranging from 8 4 per cent, to s per cent. itn tho importation of gold from 5reat Britain in addition to the Soutl African gold, which approximates $&.ooii,ooo a week, and is expected to come to North America and South America as ,i result of jirrhases In the open mariirt, inero is general expecta non or iv ueciueuiy eas-v trend in rates for money. At tho same time the arrival of gold slinuld rurnirti the basis for a removal of tho stringency regarding commercial borrow ngs. In other words construe tif developments are being antioipatei: luuti iKtrihing interests, mere is an increase of constructive sentiment in the "West, according to Chicago bankers who woro en in Now York yesterday a is tlio belief there that tho credit scarcity has coma to an end and that tho trend for tho future Is toward relaxa tlon in the supply of credit and money JBxooutor Truateo v Chartered 1822 The Farmers' Loan and Trust Company Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue At Forty-first Street i , New York London . ts' Foreign Exchange Administrator Paris Guardian Member Federal Eeservo System and New York Clearing Home Great French Railway Strike Fails It should interest the world to see a Nation like France definitely set its face against Radicalism. To see the progress made in the struggle for a permanent Peace based on law and order. To note that spirit in the French people which illustrates once more their splendid common sense and integrity. The American investor would do well to investi gate the peculiar merits to him to-day of the Republic of France 5 Reconstruction Loan of 1920 Price to-day $74.91 per 1,000 franc bond Circular on request Gude, Winmill & Co. Memetri New Ytri Slock Etchanse 20 Broad Street, New York City Telephone Hector 8880 BRANCHES ' East 45th Street) New York Glen Cove, L. I. Bank of Manhattan Rights Aphonics & Metals Bank Rights il.K.Rice5Jr.&Co. lonti 4000 lo 4010 John. 35 Wall St., N.Y Cltlesi Service Holders Increase, The total number of holders of securi ties of Cities Service Company and sub sidiajies, according to a statement Issued yesterday, exceeds 59,000. The number j of stockholders of record of Cities Ser vice Company on Feb. 15 totalled 29,607, of which 18,723 were holders of Cities Ser- mo v-uiu-Miiy ju fieri tu, -j.ioj iioiucrs of Cities bervice Company common stock, and 6,994 holders of Cities Service Com pany bankers shares. Tho holders of Cities Service Company common in the last three years have Increased from 3 1SS to 4.169. The number of holders of Its preferred has increased In that period from 9.811 to IS, 723. On April 1 siim:, wnen me nrsi uisiriuuuon was mado on Cities Servico Company bank ers' shares. thVre were 1.060 holders of record of that security. The distribution mado on March 1 was mado to C,99 holders of record, an increase of 5,934 holders of record In twelve months. Odd Lots Write Dent. 17. sholm'&'(hapman J"wm m York titoeX EreAanjs 71 Rrnarlwnv. Nw Ym.L- Pi., ptown'.fl.e . .19 E. 42ml St. wifcWMive 290 Lenoi Ave.,rnr.l3Stb St. gromnmi-a 301 K. 149th St. S o ""' ... .12 Court St. . . 777 Broad St. Herman UnnU Statement. Berlin, 'March 16 The statement of tho Imperial Bank of Germany for the period cndcl March 6 shows the fol lowing changes: Increases Coin, 1,526,- 000 marks; gold. 33,000 marks; treasury certificate?, 201.705,000 mark bills dis counted, 1,319,636,000 marks; securities, 351,058,000 marks; circulation, 614,534. 000 marks ; deposits, 1.210,440,000 marks. Decrease; Notes, 1,372,000 marks; ad vances, 3,030,000 marks; investments, 10,897,000 marks; liabilities. 66,394, 000 marks. Tho total gold holdings were 1,091,374,000 marks. London Wool Market. London, Ma'ch 16 At the wool auc tion sales to-day 9,900 bales were of fered. The wool comprised a superior selection and bidding was activo and prices were tirm. Scoured merinos fetched 10 shillings 7 pence, and greasy merinos were from 5 per cent, to 7 per cent, dearer on Arnsrlcan buying. FINANCIAL NOTES. Ailtnucf Wyoming Oil. CAsren, Wyo . March 16. The Ohio Oil Company and the .Midwest Retiflnlnp Company, two of the largest purchasers of Wyoming crude oil, announced to day a general Increase of twenty-five rents a barrel for crude oil. Saving II n nU lllll I'niiri Senate. Albant, March 16 Tho bill of Sen ator N. Monro Marshall, designed to permit navlnga banks to aeropt deposits up to $5,000 Instead of $3,000, as at present, was passed by the Senate today. NEW YORK STOCK EXCHANGE PRICES. Continwd Jrom Preceding Paoe. ,-t'lulnc.- UiJ. I M)t. UTtH In .l StUf. (Open i in;. !. fit. Holing. St Chmr. 114 it3; 77 ?i SO 104i l." 47 73 U 61 35 33U 97 52 S3ii 62 H 43 s4 5', 13S 2S-T4 31 96U 90 42i 90 42ii 25 29 H 63 3S's 18i 75 C8H 1SH 97ft 115 S0H 99 U 105 1SU S5,4 3 4 ft 7S 94 U 100 Vi 1G 23 U 28 17 30 11 H 78 ,4 42 ft 72 100 24 Vs 1144 lift 78 SI 10? 15 ft I 47H 76 63 37 35ft 9S 53 S3ft 3 Is 46 4 5 ft, 40c lOOiNiitiona'l Hisouit Co pi.. Ill 114 200'Xntional Conduit & l.'abloi 11 Hi Ilk 600;.Vatlonal Knarn & Stamp. 7SV4 1300'.Vationnl Ivcad Co 1 81U lOOjNationa! Lead Co pf 1105 200, Nevada Con Copper j 13 2 200 New Orleans, Tex & Mex 3600 Now York Central lOOj.V Y, Chic & St L 1st pf. 400N'cw York Dock 12200'V Y, N H & Hurt lOO'.N'orfolk & Western 100 North American Co. 11 Amcr. C aramel alPAmerican Piano Warren Rrcs. C om. LYON AND CO. MPme St., N. Y. TeLJehn54 Packard Motor Com. & Pfd. NonLaclieiibittclL&Co. V aADELKlIA P1TTSBUEOH IHQUITABLE MOCK CLINTON GILBERT liberty bonds ' "tt hnuchi for ush rlnslns v pay: ' llimd, 35 Cniipnni "1 IKIIMI, 1 t IHIIlOtl Kl,:riifl 1'l I',- Itnnil. Sn fmirwin. llll IW'. IIOIIll. Unnil, f'nuuont 7 Coupons ItJ PURDY & CO., :ti4 ..V-7. 34 Tin. M S. Y. H.nrj H. Ortoa nd Kilpli ! Wolff hte orfanlzcd tni fltm of Orion, Wolff & Co.. to conduct sn Inrvitffifnt LujIocm la Los Aaxflft. HnDLr Truit Coinpjnj bi beeu nvpolateil traoifrr ssent for nmiagn's and common Mock of HcClurf's Mnitoilne, Inc., and rt,sltrar for lh capital "lock of tlie. Wtldtman Oil Com pany. II. I. Meredith has been appolntM roanu factnrinj manager of tlie Baton Motor Car Corporation- lie wa formerly central main tenancA cnjloffr of the Du Pont Compaoy. At the annual meetlnj of the itwkliolilfrs of the Atlas Powder Company In Wilmington yesterdaj the following dlrn-tor were elected for the coining year: W. J. Webster, ,T. V. Van l.ar, W. A. Layfleld, Ionanl Iilebards, Jr . ami Inland I.jon. HaLlrk'jaw Klectrlc Cible Conipanj reports rrois rarnlms for the month of January on onters recelred $l,W2,OriO; Kobruary, $1,- 441,000, 0'1 for tlie urtt lirtren days of March. $9.10.on). Trustees of the Central Union Trait Companr hare elected O. J. Corlwtt a Tke-preUlent of the company. 15. J. McClelland A Co. have Issued a hnoklet entitled "The A II C of l oreijn lnretment." lTnlted States liortiase ami rruit Corapanj hs len appointed flcal scent for the par. inent of pttnrlpal and Intere't of the followlnj intinldpal Inml lnues. Asheillle, . C JM'.'XiO: Alahua county, I'la., $510,000; nutllnaten. X. C, $10.1.(KW; Vamx rounlj, X. J . $2W.OOO: nod: IIIM. S. C . IZAO.OOO; St. ljK-Ie countj. I'la . I.W.OOil. Brown Urol. Co. announce that tn-day's official subscription price for the nw Krem-h internal loan of W20. based on TCJtcrdsT's clnslmt rate of eichange, Is $74.!)1 a 1.000 franc Imnil. .... A b"ot conlalnlns ihe Ie!eral reserte act. ,erlci to Include all amendments to Decem ber It. 1010. his been luert hy the National Hank of Coramrre In New Yo'k. Skcllr Oil Company has Just brnusht In their No 1 at the Ilultt Field, matin; from 7uo in SM lrr!. . Whrle Oil Corporation's Xo. 1 well on the Roberts lese, Ilurklmrnett field, tin beet ilrllled Mtenteen feet Inln the auind, and Is esti mated as eood for 1,r.on barrels per day. Tbo well will he drilled deeper and a larzer flow ts nipoctrd r.rans. Rllllrnsn A Co. lisTe l.'iued I clrculir on New Jersay Ziac Comtuj. : 40H 70 1005; 152 10 ft 209 41 280 69 ft 26;, 30 33 121 GC 44Vi 115 50 M 202 12',i 27 29 M 33 sn v't 91 43 92 43 26U 29ft 65 39 ft 64 18 96 76 59 29 18 ft 99 116U 81 99 108 1 S 3' ! 85ft 35ft 78 ft 94 101ft 16ft 24 29 17ft 235 lift 78ft 43 73 100ft 24 58 42 70H 8 154 11 210 1900 Northern Paclllc 200 Nova Scotia S & V. . . . 3400'Ohlo Cities Gas 24(0 Oklahoma. Trod & Kef . 100Otls Elevator 600 Otis Steel 200 Pacific Mail 31100 Pan-Am Petrol & T 2500 Pan Am Petrol & T 15. . SOOiPan-ish & Bingham lOOlPenney Co, J C, pf . . 1800 2500 400 1001 17 76 60 36 35 96ft 53 OS's 63 ft 46 3 138 29 31ft 97 91 42 90 Pennsylvania HP , 43 l'ennrSiboanl Steel i 25 Pero Marquette 29 Pere Marquette prior i)t. 6o 4200!!,hiladeluhla C" 23600 Pierce Arrow Motor 2500 Pierce Oil Corp 300 Pierce Oil Corp pf 800 Pitt.. C. C & St Is 100 Pittsburp Coal of Pa. . . 400 Pitts & West Va 200 Pond Creek Coal 1600 Pressed Steel Car 200 Pullman Co 2100 Punta Allegro Sugar 500 Hallway Steel Spring. . . lOOi'Railw.iy Steel Spring pf.. 1400jltay Consol Cop . 45500 Reading 2 300 ! Heading 2d pf SOOjltemlngton Typewriter. 6 17300Rcpublic Iron & Steel.... 5.20 109001 Royal Dutch Co N Y. ... 1 200St Joseph Lead . , 2300iSt Louis & San Fran 200 St Louis Southwest pf. .. . . ! 11100 Saxon Motor i,! 100 Seara Koebuck Co 1 200 Shattuck Ariz Cop 74cl 10500 Shell Trans & Trading... I 30700 Sinclair Consol Oil Sloss-Shemeld S & i ;i9 65 19 94 75 69 29 IS ft 9S 115 81 99 105 18 S7 35 SO 95 x $2 105 13U 47 76ft 60 36 ft 36 96ft 63 Sift 63 ft 47 5ft 138 29 31ft 99! 92ft 42 90 43 27 29 65 40 65: 19ft 94 76 69 29 18ft 93 115 82 99 105 18ft SS 35 SO 96 102ft 103 41 500 69 27 33 33 122 66ft 45 215 51 203 12 27U 4 74 18 18 GS 95 52 107 111 69 98 112 73 10 57 110 9 27ft 54 10 24 111 52 ft 12 5S 24 87 74 SI 69 96 53 107 112 69 98 113 74 U 58 74 111 9' 2.8 8 6 I 2.50 iol 4' 4( 91 3 12 1000 28800 3100, COO 100 3700 59000 2000 800 42900 100 15900 100, 5200 19000 100 7600 4S00 100 200 100 1G 24 ft 29 in ; 234 11 79 43ft 78 ft Southern Pacific 100 .'4?i 58 42 100ft 151 11 09 Southern Hallwiy Southern Hallway pt. .. Stewart Warner Speed. Stromberg Carburetor . Studebaker Corp Stutz Motor e. dlv Tenn Cop & Chem Texas Co ex dlv Texas Co full pd sub rets 207 Texas & Paclllc 43 Tide Water Oil ,221 TODaCCO 1T0UUC13 u Transcontinental Oil 27ft Twin City K T 31 Union Oil I 34 Union Paciflo ; 1122 Union Paciflo pf ! 66 Union Alloy Steel 43 United Cigar Stores. lOOlUnited Drug Co 1st pf . . ..' 6300 United Fruit Company.. snnlfTntioil Ttv Investment...! 4400 United Ry Invest pf 11 9i: i 113 52ft 12' 59 25 SS 75 Sl 9300 400 1500 24200 4700 24000 100 coo; 51900 500 7400 1100 15000 3700 100 100 600 400 1000 300 100 400 1200 200 1500 12000! 500 900 2300 United Retail Stores.. USC I Pipe&Fdy.. U S Food Prod Corp. U S Ind Alcohol U S Healty & Imp.., U S Rubber U S Rubber 1st pf . . . U S Smelting, H & tM. 130 50:4 203 13 27 76 18 69 96 53 103 111 id -a 24 ft 29 1S 234 lift 80 44 73 101 25 58 42 72 153 11 1114 !77 S0 105 13 46 M'.S 60 35 35 96 ft 53 83 63 ft 46 5 138 29 31 96 90 41 90 42 23 29 65 38 63 ft 1S 94 75 58 28 ft 18ft 9S 115 81 99 105 18 85 35 78 94 100 16 23 29 17 234 11 78 42ft 73 ino 24i 58 42 70 100 1149 I 11 219 209 07 43 21 71 28 31 341 123 66 45 130 0 206 13 28 76 19 69 ft 9S 64 109 "1 69 70 U S Steel I 99 100 Pf. Odd lots. i; S Steel pf Utah Copper Utah Sec Corp Vanadium Corp ... Va-Carolina Chem. Va-Carolina Chem Wabash Wabash pf A Wells Fargo Express. . Western Maryland Western Pacific Western Union Tel.... Westlnghousa Air Brako.1109 Westinghouse K AM....) 53 Wheeling 4 Lako Erie ..! 12 ft White Motor I 53 Willys Overland I 25 Willys Overland pf S7 Wilson & Co ' 75 Worthlngton Pump Sift 113 113 73 10 59 72 110 9 28ft 65 11 25 87ft 11 60 74 ft 110 0 28 55 11 25 S7ft 112 53 12ft 69 26 87 76 83 207 41 221 26 31 33 121 66 45 130 50 203 12 27 75 18 68 93 52 106 111 69 98 112 73 10 67i 71 110 28 54 10 Z4ft 87ft 109 62 lai 5i 24 ft S7 75 81 114 I n! so 105 13 46 76 60 "5 35 98ft 63 R3 63 ft 46 5 138 29 31 96 90 42 90 42 26 j 29! 65 63ft 18 94 75 69 28 ft 18ft 98 115 82 99 105 18 S5 35 78 94 100ft 16 23 29 j 17ft 234 lift1 78 42ft 73 100 24 58 42 70 100 152 11 209 207 41 221 69 27 31 33 121 66 45 130 60 203 12 27 18 68 95 53 107 111 69ft 9S 112 73 11 57 73 110 9 28 54 10ft 87ft m 52 12 69 25 87 75 81 1 ft 3 U 1 u -1 ft 4- ft 1 ft 3 . " r i i i 3ft ?i H 1 1; $35,000,000 The Texas Company Three-Year 7 Sinking Fund Gold Notes Dated March 1, 1920 Duo March 1, 1923 Callable as a whole, or by lol in amounts of not less than $5,000,000, at 101 and interest at any time on 30 days' notice. Coupon Notes of 81,000 with provision for registration of principal. Interest payable March 1 and beptember I. Ihe Chase National Hank, New lorlc, trustee, lotal authorized issue, ?3a,00O,O00. The Texas Company is om o the largest corporations in the idorld engaged in the production, refining and distribution of petroleum and ih products. Security -These Notes will be the direct obligation of The Texas Company and, except for sundry obli gations aggregating approximately $4,200,000, will comprise its only funded debt upon the redemp tion of $14,798,000 6 Debentures which the company has agreed to call tor payment on July 1, 1920. Funds for this purpose will be deposited with the Trustee of these Notes simultaneously with their issue. . , Market Equity $250,000,000 -The Texas Company's fully paid capital stock outstanding amounts to $85,000,000, in addition to which the company is issuing $45,000,000 stock, subscribed for by stockholders and employees in January, 1920, and which will be fully paid in July, 1920. At present quotations, this aggregate of $130,000,000 stock will represent a market equity of approximately $250,000,000. Dividends have been paid without interruption since incorporation in 1902, the present rate of 10 per annum having been paid since 1913. The Trust Agreement under which these Notes arc to be issued will provide that: Semi-Annual Sinking Fund Beginning September 1, 1920, the company shall provide a semi-annual sinking fund of $2,500,000, to be applied by the Trustee on each interest date, on 30 days' notice, Xo the. purchase of Notes tendered at not to exceed 100 and interest. On any semi-annual date when sufficient Notes are not tendered, the unexpended balance of the $2,500,000 then available will revert to the company. No Mortgage on Present Properly No mortgage shall be placed on any of the property of the company now owned or hereafter acquired, other than purchase money mortgages specifically secured upon properties hereafter acquired. Quick Assets Always 150 of all Liabilities The company shall at all times maintain quick assets, as defined in the Trust Agreement, to an amount equal to at least 150 of total liabilities, including these Notes and all other indebtedness. Earnings Wi Times Interest For the fiscal year ended December 31, 1919, the Company reported net income, after all interest charges and provision for Federal Taxes, equivalent to over IO'j times annual interest on this issue of Notes, and for the past 4'2 years average net income equal to nearly 92 times such interest. Purposes ot Issue These Notes arc issued in connection with the acquisition and development of ad ditional producing properties, extensions to refineries, construction and purchase of steamships, lay ing of new pipe lines and installation of additional marketing facilities. We ojfer the aboce Notes tor delivery when, as, and it issued and receiccd by us, subject to the approval ot legal matters by our counsel. Price 99 and Interest. To Net over 7Vs Wm. A. Read & Co. NEW YORK Bankers Trust Company NEW YORK Illinois Trust & Savings Bank CHICAGO 1 'Ihe information contained in this adertiscmcnt lias been obtained from sources which wc consider reliable. While not guaranteed, it is accepted by us as accurate. 1 2 3ft 4- Vs 2 4- 5 1 4-11 -"ft 1 4- 1 li 4- 1 1 1 1 i" ft ft 1U 2 si' "ft 3, "Foreign Trade Through Foreign Investments" A Comparison of French Government Loans 4 Loan of 1917 5 Victory Loan 5 Loan of 1920 TN view of the interest in French Government Internal Loans it has become necessary for bankeis as well as investors to have at their disposal a comparison of the principal issues. We have therefore prepared a chart which gives for each issue the present income in francs and in dollars, with a 1 c. change in the value of the franc from 7c. to 19c, the increase in income as the franc lecovers its exchange value, and the comparative profits and income at current rates for each loan. Also a graphic chart which shows the fluctuations in the French 3 and 5 Rentes since I 798. This chatt should be in the hands of every banker, manu facturer, exporter and investor for present and future reference. Complimentary copy sent on request for pamphlet No. BX-80. A. B. Leach & Co. Inc. Investment Securities 62 Cedar St., New York Chicago Minneapolis Philadelphia rtallimore Boston Pittsburgh Clerelaiid One of the Eastern Railroads covering the chief industrial cen ters east of the Mississippi a continuous dividend payer for CS years overlooked in the pres ent market. PENNSYLVANIA RAILROAD CO. nhlrh Is pertinent for an analysis at this time so we have prepared a special report. FIVE ESTABLISHED OILS that hare not as jet participated to any extent la tho market Imotemenl generated by tho higher prices for oil and its products. In addition try thl abott, lU utual features and discussion on: Com Products Amer. Safetr Ilitznr Studebaker No. Amer. P. As P. Baldwin Loco. Carlo Syndicate In th a Current Issua MARKET OPINION Gratia on request for C-S7. R, K. MacMASTERS & 00. Memters Consolidated Stock Eich., N. Y. 69 Wall St. New York Jianoter BSlt. Ground Floor. THOMSON AND McKINNON 42 Bri.JwT Niv Ttrl 209 S. La Safe St, CJdHfO FUkber-Amr. Nifl VkMs, In&Mfalft, . During ft mate ' Mea New 1J PfeiTBKw. OT lew B ISM I DIRECT PRIVATE WIRES Galena Signal Oil I'laim Isaac. Stockholders of tho Galena Signal Oil Company will meet mi May 17 to vote on a proposal to lncrcaso the company's com mon Mockfrom j20,QO,aoo to j2:,ooo,see and Issue $6,000,000 of 7 per cent, con vertible debenture bonds, convertible, at tho optlo of tho holder Into common atocl- nc method of allotment of tho bonds baa not been determined. The cor poration has unissued stock amounting to $4,000,000, and the proposed JJ.OOO.OOO Increase- -will take care of the converalor, of all th bonda If the option lie exercised. PIFRCF..RtITI.FRA:PIFRrProi.J ir. rrefarred Stock INCORPrtATSD 1IS Broadway New Tork city miU Phone nector 4100 KOCffESTU .Mark A. Noble Theodore C. Cornln NOBLE & CORWIN :s Broad St. Net Talk Equitable Trust Safety Car H.&L. Chase Nat. Bk. B'klyn City Ry. Telephone lilt Broad. L