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The Sun and the New York herald. [volume] (New York [N.Y.]) 1920-1920, May 04, 1920, Image 15

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030273/1920-05-04/ed-1/seq-15/

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4
THE -SUN AND NEW YORK HERALD, TUESDAY, MAY 4,920.
15
yi Combiimtion of
Investment Requisites
The Cinciinati Gas
& Electric Co.
6 Secured Notes
Due Dec. 1, 1922
Offer-
High yield t
Early maturity
Marketability
This Company has
tiihlishcd one of
longest dividend records
of any corporation in
the United States.
.4,1- for Circular A'ft. CY-90
A.B.Leach&Co.,Iic
Invcrtmrilt Stcuriiits
62 Codar Street, New York
Chlmeo BoMon IluHalo Cleveland
I'hiladclphla Minneapolis Ilaltimore
i
esr-the
SPECIAL
OPPORTUNITY
is afforded by rising
Exchange rates to
invest in
SCANDINAVIAN AND
OTHER EUROPEAN
GOVERNMENT AND
MUNICIPAL BONDS
and to buy Foreign
Exchange for future
delivery.
Trr pirtlruiare apply to
HUTH & COMPANY
30 Pine Street, New York
1 rlcphone John G21 1
fhone, Eector 5860
Joseplithal & Got
llfi Brcadwaj, New York
Mtmbcn
Acus York Stock Exchange
Foreign
Securities
Private Wires tr
Principal Cities
1 I
CANDY
OF THE
SOUTH
fHE buiintw of The NunnaHy
Company, m&keri of Ths
Candy of the South, has ahown
a steady inertaie una it incep
tion thirty-five year ago.
Stock of The NunnaDy Gtoopany
i now listd on the New York
Stock Exchinge.
An illuitnted booklet, dealing
ith thu company, vril be sent
without obligation uponreijutst.
Securities Sales C.
64 Pea Aires Street
Atlanta
New Orletci
Mtnr.hU Charlotte
Binaltttfcw
Jacxjaariite
Banklnc IInae at
HENRY CLEWS CO.
15, 17 and 19 Broad StTTN.Y.
m!!!"' Howed on drpoilt sceosau
"uj'rt to throne Stock. Band ana
2L "V" .of nallroad and Industrial
"opuiltii Bousht and Said and con
v"T.'dDC wade thereon,
iorelra Lettrrn at Credit t9ed.
Sealer In
LIBERTY BONDS
Braneh Office 338 Wth At.
m 94 Warren Si,
Montgomery & cot
'v otu -TVecmo' Stach
i'W' - rW York - Chirasa
Carbon Steel Cam.
Fiher Body Ohio, Com. & PH.
I Procter & GawMe, Corn. fcjP A.
E- & C. Randolph
I tftnkrr, Nm: Vork Swk Exrliaste
IbIUim eeenrjtles flepartaaeat
"IBroadway New York
DENVER AND RIO &
INCOME IS SHORT
Keport Shows $281,807 Deficit
for 1919 After Allowing
for All Charges.
WILL CONFER ON
EUROPE'S DILEMMA
HAD SUBPLTJS DTJBTJsG 1918
Federal Account llcflects Loss
to Government of More
Than 32,000,000.
The Denver ana Itlo Grande Railroad
Company's Income account for 1919
ehowa a deficit, .after nil cluuxcs, of
8281,807, according to Its annual report
issued yesterday. That sliortace la
contrast to J1.4S1.7S0 surplus In 1918,
equivalent to $1.09 a share, on the $49,
753.670 of Its preferred stock. The Fed
eral Income account shows a net operat
ing Income of 86,113,736, wlilch com
pared with the guaranteed rental of $8,
319,376, trlvea the Government a loss of
82.205.C1O.
The corporate Income awotint for 1919
compares with that of 191S as follows:
1M. Clause.
Federal ropci!atl...5S,2!.r
Other income , Ilee.tl.TM.Wl
Total Income I.WS.731 Dec. ,'M.m
Interett, rentali, 4c.... I.Slo.EJ Inc.. 2.M
Kenclt .' !J1.MI7 Inc. 1,7JJ,B7
Hlnklns fund t renewal. tns.ia Inc. C.70S
Total deaclt 4S1.STT Inc.. 1,H:,30
A. It. Baldwin, receiver for tlie Den
ver and Ulo Grande, authorized account
ant to charge off In April. 1919. to the
debit of profit and loss 837.930.478, the
value as of March u, 1915. of Invest
ments In securities of the Western Pa
cific Railway Company, representlnr
cash, labor, materials, &c, advanced to
that company for construction. Glvlne
c!tl to that charse ' the Denver and
Itlo Grande had a profit an.l loss final
debit of 'SS6.10C.945 at the close of 1S1V,
it ;rn Inst 811.C30.739 credit balance at the
beRlnnlnp of that jear.
The proat and loss account of the
company for 1919 fhows as follows:
Credit balance December SI, 191S. $11.
C30.739 ; credit balance transferred from
income account. $57,1.23; bonds pur
chased for sinking fund, bought at par,
$151, 305 ; unrefundable overcharges,
$32,647; donations to spur tracks, &c.,
$8,451 ; unclaimed wages, 822;704 : un
collected mlleare and liaccaie coupons,
88.840; cancellation of sundry vouchers,
812.5SG: mlacellaneous credits, 82.111;
total. 811.92J.94C. Less appropriated
to Kinking fund, refunding mortcage,
8131.30S; appropriated for .Investment In
physical property. 88.431 : loss on retlied
road and equipment credit, J12S.329: ad
vance Eurveys abandoned projects, ICS,
400; Western Pacific Railway Company
rtoclt. bonds and notes charged off. 837.
S30.477: miscellaneous debits. 82,587;
debit balance December 31. imp,
its Federal Income account for 191 J
compares as follows:
Ounrr.
ln&.Jt.M.W3
Inc.. :C4PS
lnr..Jl,y),jc
inc.
Chawher of Commerce of U. S.
Asked to Send Delegates to
Brussels Congress.
IS TO MEET THIS MONTH
Delegates Will Attempt to J
Find Method of Cooperating
to Ilelicvo Stress.
Federal opar. rftenue..J!,Cls.M
Operating eiiwuei J3,C,T1
Net retenne
Taxes, to . .
i,u;,tic
Operarjnj Ineome t5.n,S
OUier Income JCJ.IM
Total Income
llenUla, c ..
iiic..ji.ii;.H5
llec. t,4&)
Inc..
Inc,.
Net eparatlni Income.. J4.U3.7M Inc., IM.M!
The report states that expenditures
for road and equipment durinp the year
were as follows: Road, f 1,044, CIS; addi
tions and betterments to equipment,
867,879, and general expenditure!, 842,
229; a total of 81.154,457.
The physical vajuation of the com
pany's property conducted under the di
rection of the Government, alostr with
engineering and accounting' work per-'
formed by employees of the Federal
Railroad Administration Is about CS
per cent, complete.
Take Orer Franklin Trust.
The Franklin Trust Comnanr. n
Brooklyn institution since 1888, hasbceu
merged with the Bank of America,
giving up the name by -which it haB been
known as one of Brooklyn's foremost
banking organizations. Its main office
in 166 (Montague street becomes the
chief branch of the merged company, and
us vtauaooutana Fulton street branches
end the branch that will be opened In
the Bush Terminals on May 15 will take
care of the Brooklyn business, which has
been expanding at a rapid rate. . The
present head of the Franklyn Trust
Company, Edward C, DelafleJd, will be
president of the Bank of America, and
the other officers and directors will All
similar positions In the new company.
Bay
LlrlBgratan Oil Contrel.
Controlling interest in the Llrinsctirc
Oil Comuany has been purchased by
Bayden Stops & Co., according; to re
ports current In banking circles yesterday.
FINANCIAL NOTES.
U if. JtfUepthal has soil nil Ntir Tork
Cotton Cxchanta seat to Ii. B. Lotren-
stein for fS400, or 81st leaa than the
price or lbs last prarioua tale.er a seat
In that body.
Sefton Traotor of Wart Trantar has
apslled for mmbenhlt in tin New Tori
Cotton Exchange.
IVtniam H. McKenna Co. hara moved
to Ci Weat Forty-third atraat. .
JU. the special meeting o! atockheMara
of tha Caddo Central Oil and rtaAnlng
Company, tha plan catling for tha rx
ebanra of lta outstanding aharea of 1100
ear varan for snares of n par raise and
increasing tha number of Its sharea from
UD.SSB t ztt.tlt without nominal or car
value was ratified.
Baata A Morrln will on Mar mere to
tt Broadway.
Heltze. Clevalanl
lit Srsad strett.
Colasevaln
Broad war.
4b Cs. hara mevai te
& Co. iava marad to IZ
As Invitation to send delegates to the
League of Nations financial congress to
be held during this month In Brussels
for a conference which will attempt to
find a method of working together to
relieve the financial and economic straits
of the European Continent has been ex-1
tended to the Chamber of Commerce of I
the United States.
The statement by Curler Glass that
the United States would refuse to rec
ognize the conference or send delegates
unless It were made clear that further
lnfiatlanarv aovrnme.. to rovernment
loans would not be rrnpo'ed h" cau'l J
a modification of plana on foot when the
Bankers' Memorial was presented to the
various governments.
Any plan worked out will be depend
ont entirely upon private capital so far as
America Is -oneerned. Btt It is hoped
by leading bankers of the United States
and Europe that the moral support of
the governments will bo accorded It.
Bankers do not believe that they would
be able to carry their plans to success
ful concluilou vlthout such moral sup
port The rlfk of financing exports to Cen
tral Europe and even to some of tha
allied countries Is Increasing dally. If
a shipment of steel should be sent to
Germany to be manufactured into fin
ished articles and reexported the Ger
man Government might be overthrown
and a new regime set up in its plate be
fore the artlWe' should have been fin
ished. The new Government might e- J
tabiisn new ruio controlling export
shiproenta or prices which mlsht pre
vent reexport of the goods, require Uielr
manufacturer to defer payment for the
raw materials or make payment in cer
tain currencies. Some new rule confii"
catlng the raw materials or finished
products and allowing payment only in
German money might become effective.
In the case of exports to the allied
countries there might be new laws call
ing for capital levies or eontrol of ex
change which would make It impossible
for the importing manufacturer to carry
out Ids contracts. In such cases com
mercial paper or loans against ma
terials in process of manufacture would
have to be renewed propably several
times over until the matter could be
straightened out. Renewing the bills
would tie up credit and make financing
new business still harder.
If responsible and stable governments
were to cooperate by giving assurance of
moral governmental support incidents of
the kind could be avoided by having one
Government bring them to the attention
of the other.
Rven with the high money rates prev
alent oil over the world private bankers
undoubtedly could find funds to finance
Europe along the lines of a revolving
credit. The amount noeded for auch a
scheme would be small in comparison
with some estimates that have been
made. If credit to the amount of J1.000,
000,000 or even 8500,000,000 were put
at the disposal of a syndicate, which
could feel assured that that credit would
not be tied up by Government action.
that sum would go a long way toward
restoring economic life on the Conti
nent. A billion dallars could he turned
over at leant twice during the year,
thus being the equivalent of 82.900,000,
000. After factories were once more
working and transportation systems In
shape the credit would le turned over
more rapidly. As ona lot of goods was
Imported into Europe, remanufactured
and exported, one set of bills would be
paid off, freeing that much credit for
new business.
Bankers have concluded that that plan
is the only workable one, but it can be
effective only with the moral support of
Bovernments. The Brltlah Government
hns expressed its willingness to cooper
ate to forward such a scheme, but tnc
United States will be one of the main
sources of supplies of credit and ma--
terlals. and that cooperation from us la
sought
HGHTS TAX ON STOCK DEALS.
Exchange Soands Call far Meeting
of rroteit Against BUI.
The New Tork 8toclc Exchange as
sumed yesterday the lead In fighting
the bill pending In Congress Jo impose
a tax on transactions lu securities.
William H. Remlck, president of the ex
change, sent to presidents of stock and
commodity exchanges, boards of trade
and chambers of commerce throughout
the country a telegram urging attend
ance at a meeting in the New York
Stock Exchange next Friday to consider
methods of defeating the measure. The
telegram read as follows:
"The ways snd sieans commi:;e
of the House of Representatives has
under consideration the Imposition of a
ruinous tax upon transactions in securi
ties. This tax threatens the existence
of the securities market of the nation.
It will not be limited In its effects to
dealers la securities and their employes
but will react disastrously upon the
financial structure of the entire United
States. To consider steps to bo taken in
view of this emergency I have callel
a conference to be held in the governing
committee room of tha Nw Tork Stock
Exchange on Eriday, Way 7, at 3 P. M.
I have Invited to this conference the
presidents of all stock ana commoauy
exchanges in the United States whom
the limit of time will allow to attend.
I urgently Invite you to be present"
Exeoutor Trustee
Chartered 1822
The Farmers' Loan and Trust Company
ffos. 16, 18, 20 & 22 William Street
Branch Office, 475 Bfth Avenue
At Forty-first Street
. New York
London
AdminiBtrator
Paris
Foreign Exchange
Guardian
MemTjer Federal Besom System and New York fflearirjg House
Martin. Berwln ft Ca. bars moved to 21
Cortlandt afreet.
Guaranty Trutt Company has been ap-
Klntad transfer agent of Appalachian
iwer Company's flret preferred stock.
Durelt. Gregory Co. will move to 72
Wall street daring tfea middle of this
month.
flamuil Rea, prestdont of tha Pennsyl
vania Railroad Company, made yesterday
tha following ancouocemaat:
"The asaeeet of stack of tba Plttsting,
Cincinnati, Chieago and At Louie Railroad
PMnnitif Already dflOftttd under tha
termi of the offer made by the Pennsyl-1 to be taken by foreign Interests.
vanuv Company oa aieren i, ia sat. i
iafactory and tba same will be accepted I
for nitrchua on tha terms and eonditiona I
aat farth la tha ssld offer. To enable I The American Light and Traction
additional
time
T.livSA.. ! dtra to do co m yesterday, earned net after
Don't Say You Can't Afford It
We Know Better
You paid your Income Tax, didn't
you? Well, suppose your wife had
tried to get from you the amount of
money the Government has taken
from you, what would you have
said? In all probability you would
have said: "I can't afford it." Bui
along comes the United Stales
Government and orders you to pay
an Income Tax, and you pay it,
because you can do anything you
are told to do when you can't do
anything else. Wc can't make you
buy Prudence-Bonds, but neither
can you make us believe that you
can't buy them! You can buy
Ibem, you ought to buy tliem, and
if you have any regard for the
future, you will buy them.
1'iudence-Bonds pay They
are guaranteed as to interest and
principal. They arc backed by
first' mortgages on Xew York City
real estate of the finest kind. And
they are sponsored by a Board of
Directors whose judgment and
integrity is beyond reproach.
PKUDKNCE-BONDS AUF. ISSUED IN DENOMINA
TIONS Or 1100. JSOO. and tl, 000. "WE PAY THE
4 NORMAL FEDERAL INCOME TAX.
GUARANTY TRUST COMPANY OF NEW YORK, Trustee
Send for Booklet J-20
Realty Associates
Investment Corporation
31 Nassau St., New York Phone Rector S181
162 Remsen St., Brooklyn Phone Main CISO 1
DIRECTORS:
11UNK HAHXT
Vice l"rr. Title Guaran
tee and Trust Company
ANDREW D.BAISD
Pre.; Wirlamaburg Sav
ings Bask
hk rmt or nvunsan
M OLB A the rnuMH
I.OTJIS J. HOROWITZ
!tm.. Thompson-Starrctt
Company
EDWARD T. HORWTLL
fiecty., Wflliamaburg Bar
ings Bank
CLAREXCKH. KELSCT
Jrea., Title Guarantee and
iTui.t company
IIAS.S.BBOWN
Obalnnan of the Board,
surceaaor toDongla'Kol)- CLnTORD B. KELSET
lnaan, Chas. S, Brown t lce-1'rcs, Kealty Aaso-
lampany
L
CI.IXTOX B. BtJRDICK
Sec. VIee-Ircs.. Title
Guarantee and Trust Co.
EDWARD C DELAtllXD
Pres., The Bank of Amer
ica W11XJAM M. GREW.
Vlce-I'rea.. Realty Atm-
Hum Investment Corp.
C KOWEIX HIDDEN
Pre., Brooklyn Savings
Bank
rlale.
1-REDEKiriC POTTER
Tys.. O. B. Potter Prop-
ertte. Inc.
JAMES a. WEXTZ
Director, Realty Aato-
clates
W M. II. WHEELOCK
Pres, Brown-Wheelock
Oo, Inc, succeaaora to
Douglas Robinson, Chas.
ti. Brown Company. Man
ager of Real Estate, Trin
ity Corp.
NEW YORK STOCK EXCHANGE PRICES.
Coiflaued tram Preceding Page.
r-Clulng.-
Sid. I Aak.
DIT.j
ln I. Stic..
Ill '114
Forsn Ferelffn Banking; Caacera
IlairrFOtD, Conn, May 3. Papers I
showing 1S.O00,v00 Hartford corpora
tion were filed with the Secretary ofl
State to-dar. Its title is the Bankers
Union lor Foreign Commerco ana Fi
nance, The incorporators axe B. II.
Holden, Josephine J. Wright and Don
ald McCarthy, sll of Hartford. Mr.
Holden said that its chief promoter was
Henry Bnumer of 2 Wall street. JCew
Tork. Five millions ef the capital are
Asaelcan Light Re-parts.
rerts in tna saia oner, id Baviai me American i.igiii ana jraciion
jonal holdings to be deposited the company In twelve months ended on
Ti11 &Ft&2JL.&S r"! March . according to a report issuod
j,..,-. . I vesterdav. earned net after expenses
dtpo.lt tbclr stock and avail themealvee ! I4,201.13, whjch contrasts with ?4,0!8.
af tha offer. Application will be made to m 5 fr the immediately preceding fiscal
Mm h rcrtlfiuta of deoaslt en tna Mwl.
York and rhlladelphla atock axeaangea,
Hie finincial bureaus of
THE SUN AND NEW
YORK HERALD and of
THE EVENING SUN arc
now located at 44 -'Broad
sireet
year. J is divujenu payments amounted
to 88.807,132. thus reducing Its profit
and loss surplus frpm 811,516,783 at the
beginning of the year to 83.910,730 at
(ts close.
Albany Banks Are Merge.
Auakt, Jlay 3. Announcement
of
the consolidation of the National Cmn
tprrlal ltank of Albany and th OaifTi
National Bank and Trust Company un
til recently the Union Trust Company)
.as of the opening of. business on May 1,
under the name of tha National Com
tisarclal Bank and Trust Company of
78i
104
UV4
PC
09'
34
28V
S9V4
6414
73 U
Bl
1SU
39 U
48
4H
121
itll
543
S8
3S
91
61U
3Ti
23H
3JH
24
CI
57U
16
87
5754
73
17
97H
100
11 B
10;4
92
17U
84U
40
8?4
re
78 m
106H
13H
PS
70i
S3
2S4
SO
6
74
58
20
S3V4
51 H
4
130
,'
55
40
9194
91H
40
24
35
244
62
37
7
16U
ao
58
50 '
77
17H
98
101
115
104
95
17
84H
40U
70
80
1
10)
5
2H
50r
4
40c
h
I ..I
I 3!
200 National Ulscuit Co pf..
P00 National Enam Stamp,
900 National Lead Co.......
50 National Lead Co pf...,
300 Nat K n of Mes 2d pf..
900,Nerada Con Copper.....
200 New Vork Ah- Brake....
1200 New York Central
500 New York Dock
2300iNcw York, N II & H. ...
200Norfolk & Western
109 Norfolk & Western pf...
2100lNorifcern Pacific
1700!Novi Scotia B & C
209'NunnaDy Co
410DiOho Cities Gas
10!:Oli!o'Fuel Supply.......
2109'Ok!alio3ia. Prod & nef...
JOOiOtlo Ehsvator
41, 43
9SH 95
96 ' 97H
1154 !.116
8CG
300
200
1600
37600
4100
7900
1000
300
1600
Otis Steel
Owraa Bpttle Co
Pacific Development ..
Pacific Tel & Tel
Pan Am Petrol & T. . .
Pan Am lMrfil 4 TB.
Pennsylvania, R It
Penn Seaboard Steel...
People's Gas, Cfcicago.
Fere Atarqueiio
11
57
184
IV.
12?;
210
79
mh
C6
4V4
20i!
53 I
12 !
BVA,
U
7
lH
216
?es
66
64Ta
695
! 206'Pere Marquette prior pf.
31 1000 Philadelphia Co
.. 20000;Pierce Arrow Motor
. . I 2000 Pierce Oil Corp
8 400 Pierce Oil Corp pf
5 400. Pittsburg Coal of Pa.. . . .
.. 1500 Pittsburg; 4 West Va....
6 100 Pittsburg & West Va pf,
1 100 Pond Creek Goal ,
8 1900 Pressed Steel Car
7 100 Pressed Steel Car pf....
8 100 Pullman Co
5 6800 Punta Allcgre Sugar....
8 200 Railway Steel Sprta....
1 2400 Ray Consol Copper
4 22400 Reading
2) 400 Reading 2d pf
..! 1700 RemlnKtcn Typewriter.. .
.. 19900 Replogla Steel
100 Republic Motor TrucK...
S1700 Republic Iron Steel....
109 Repub'ie Iron & Stirf pf.
5.20 2J500 Royal Dutch Co NY
.. 2000 St Louis & San Fran....
100 St Louis Southwestern...
6i 300 Savage Arms Corp
.. 1700 SaxorI Motor
..' 380 Seaboard Air Line
100 Eeaboard Air Line pf...
SI SOD Sears Roebuck Co.
4c S800 Shell Trans Trading...
, 1800 Sinclair C-onH Oil
6 1200 Sloss-Shef field S & 1....
6 15500 Southern Pacific
2400 Southern Railway
5 200 Southern Railway pf....
20 0 Standard Oil of ?4 J.....
(Open- High-1 lw- Ctsa- Nat
I Ing. I wL cat I lag. Chanta.
jlll Hlllll lllH -f XVt
72 72 70 72 1
79U 79U 76V4 77 Vi
103T4 103T4 103T4 103T4
iVs 4 4 4 ..
13 13H 13 13
95 5 95 15 1
70 70T4 66 70 j '..
25U 35U 33 32 :
28V4 2SU 27 28 -5-
90 DO 90 SO
66 66 66 66 2
7414 74 72?, 78 Ti
B8?4 59 57 i 58 3
20 20 20 20 i
40 40 39 39 (i
62 B2 C2U 62
4 4 4 4
130 130 127 127 7
27 27 27 27U
55 55 54 54
70 70 69 69
39 40 39 40
92 96 E9 96 4
88 93 84 1 4?i
40 40 39 40
28 24, 23 23
33 33 S3 83 it
24 54 23 24
62 GS S2 62
16 36 36 36 1
57 57 54 57 "4
16 16 16 16
8G 87 86 17 a;
58 5884 57 57 1
30 30 28 29
76 76 76 76 ..
17 17 17 17
87 98 93 97 -f 1
.100 100 100 100
113 113 113 113 1
105 105 100 103
91 91 91 91
17 17 17 17 a;
S5 85 82 84 -f U
40 40 40 40 2
70 70 67 68 -f. 1
81 83 79 S3 -f 3
41 41 41 41 1
94 95 90 95 1
97 97 97. 97 1
110 116 109 115 6
21 21 21' 21
12 12 12 13 ..
67 58 57 56 1
14 14 11 11 s.
7 7 7 7
11 IS 13 13 1:
216 216 216 216
77 79 75 79 -f j
SKfi ?4 Sfai u.
66 67 65 68 4- a,
94 94 S3 94
21 21 20 20
53 63 53 63
0 6)2 683 663 J
f H5 US (IS
. MW m m 4 . , f Ml, I (1 I ( Kill VII ri
from the Grazing Herd a
TO THE
City Street
V
TO-DAY, grazing in China,, India and Africa and upon die pampas of
South America arc herds of cattle whose hides eventually will be
transported to this country to be tanned and transformed into boots
and shoes and other essential, commodities of commerce. From the ranges
and ranches of our own country the supply is being constantly reinforced.
TV'HE leather industry, like every other commercial enterprise, is
dependent upon an adequate system of financing. The hides-must be
bought and paid for, transportation charges met,, money advanced to
the tanner and manufacturer, and credit extended to the distributor; whole
saler and large merchant.
HERE, at the corner of Broadway dnd Fulton Street, The National
Park Bank has been serving the leather industry for. many years.
From the grazing herd in distant lands to the shoes that tread the
city street or the belts that girdle the wheels of industry, it has followed
the raw hides through every phase of their de
velopment wth dependable financial co-operation.
NATIONAL PARK
BANK
OF HEW YORK
The National Commercial Bank
and the
Union National Bank and Trust Company
(formerly The Union Trust Co.)
ALBANY, N. Y.
Have Consolidated under the Charier of
National Commercial Bank
of April 12th, 1825.
The- Name of the New Institution is
National Commercial Bank and Trust Company
Capital $1,250,000
Surplus and Profits over ... 2,750,000 $4,000,000
Resources over $40,000,000
Albany, N. Y. May 1st, 1920.
r-CUaicg.-i IDlv.i
Bid, ptalc. ln l. Bilca.
104104 7; 1800
41 42 4. 700
70 70 4; f3000
107 107 7, 6400
48 48 6, 700
42 43 4 100
10 10 ..' 2100
46 46 2, 19800
600
36 37 .. 4700
12 12 .. 100
191 205 8 200
63 66 6 1600
15 16 .. 7700
51 53 5 700
112 115 8 200
2) 29 .. 1800
116 I" 19 lf00
62 62 4 100
41 43 4 700
132 134 S! 200
94 .. 7 100
03 205 12 1290
9 10 .. 500
21 22 .. 200
68 69 3 3700
16 17 .. 400
62 CS 6 6500
82 88 t 7200
51 63 .. 1600
90 100 8 18900
61 62 6 900
45 45 3 100
04 95 5 1(8800
107 107 7! 1600
66 67) 61 4400
g 8 .4 200
77 77 6 22000
66 67 4 1500
100 105 8 100
DS 100 6 100
7T4 8 .. 200
3 23 .. 400
50 62 .. 100
S 9 .. 900
23 26 .. 1000
84 85 7 200
113 .114 7 200
45 49 4 1800
10$ 10 .. .900
55 1 56 4 2800
17 IS 1 23100
(0 61 ' 400
66 67 6 00
25 28 .. 100
6) 60 6 1500
tOU let.
(Open-1 Hlrn-1 low-
I 11 g. I ML
(Standard Oil of N J pf...104
Stewart Warner Speed... 42
Strombere Carburetor ..." 71
Studebaker Corp l.SK
Superior Steel, Corp 48
Temtor Corn & Fruit A.. 42
Tenn cop & cnem ivu.
Texas Co 45
Texas Co GO p c paid.... 168
Texas & Paclfie 37
Third Avenue -.. itu.
Tide Water Oil 190
Tobacco Products 3H
Transcontinental Oil .... 15
Transue & Wms Steel... 52
Union Bag 4t Paper 114
Union Oil 2
Union Pacific 116
Union Pacinc pr...i su
TTnHeA Allov Steel 43
lUnlted Drug Co ;134
United Drewood nr. 94
United Fruit Corn,pany.. 204
United Ry Investment... 10
lUnited Ry Invest pf 21
United RetaU Btores 69
II S C I Pine 1 Fdr I 17
U 6 Food Prod Corp 64
U 6 Ind Alcohol 83
U S Realty & lrap 62
U S Rubber 100
U S smelting, tl a: ji....
U 8 Smelt, It & ll pr. 4oti
IT A Steel ' 95
U S Steel pf ex dlv '108
Utah Copper ! 69
Utah Sec Corp I 8
I Vanadium Ccro 77
Va-Carolina Client 67
Va-CaroUna Chem pf.....H04
Va Iron, Coal & Coke....! 90
Wabash I 8
Wnhajrii rjf A 23
Wells Fargo Express.... 62
western juaryjanu 1 v.
I Western Pacific , 25
Western Union Tel 84
Weatinghouse Air Brake.illS
Wcstlnghouse E M....J 8.9
Wheeling & Lake Erie...' 9
Wiiile Motor i5 1
Wlllvs Overland ' 18
WUlytf Overland t 60
Wilson & Co 66
Wisconsin Central 2i
iWorthlngton Pumj 70
104
42
71
169
48
42
10
46
168
37
12
192
63
15
53
114
30
117
C2
43
134
94
205
10
21
69
17
64
84
53
100
63
45
95
108
69
!
78
67
104
96
8
23
52
9
25
84
US
49
10
rit.
104
42
70
107
48
42
10
46
166
37
12
191
15
53
113
30
116
62
43
131
94
204
9
21
68
17
63
83
51
99
61
45
94
1U7
66
8
77
67
104
96
8
23
52;
9
25 !
84
112
48941
10 :
55
1R I
tnu
60 66 1 66
27 27 27.
,71 '67 j 69 ,
aa
41
65
102
47
42
10
44
168
S5
12
190
62
14
52
113
2S
115
62
48
133
94
9
21
66
17
60
79
50
96
61
45
92
107
65
SI
74
64
iu
96
8
22
52
9
25
84
112
48
9
55 1 53
18 17i
50 80
Cloi-lng.
Net
Change.
3
1
m
1
1
24
3
1
t 8
-in
1
. a
1
-"
3
18
-r
2
1
1
-
'.f
1
'H
Founded 1797
Seasoned
Investments
30 Pine Street
New York
J1ELLWIG&REUTTER
Umim a N. Y. SlM Exckmn
INVESTMENT
SECURITIES
25 Braad Street, New YU
Tekpfeeae Fread S23t
PRICHUT & CO.
, Monbers NY. Stock Exdiange
SIXTY BROADWAY
NEW YORK CITY
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