The Sun and the New York herald. [volume], July 22, 1920, Page 14, Image 14

About The Sun and the New York herald. [volume] (New York [N.Y.]) 1920-1920

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

                
THE SUN 'AND NEW , YORK HERALD, THURSDAY, JULY 22, 1920.
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Sugar
Stocks
T ARGE cabling and lib
eral dividend we a troct
Ing Investor to the thares of
idisz producing cssipssies.
Audit
Ciruai
Ceotril Afuirrt
Central Sufij
Fijirdo
Ccdciuat
Giualtntmi
Hal ,
NtUeo.
StTimia
Bought Sold Quoted
fiVno or special rMer A-3
on Guanlanamo
Lambprnfeik
Spvciilistsia Su&rStocRS-
Seven VaEftfcwM
itr.nnr.RB
.V V. Stock K. AM', Product Kt.
S l'.Cottoii f.'x. Calf, fld. o Trad
.V. V. Coffee and Sugar Ex., Inc.
London I'roa.Vleartng uovte, Ltd.
Ml
Prophecy
and
Profits
Our weekly publication,
The Investment New,
hai been extremely accu
rate in forecasting the
broad price trend over the
past few month.
We shall be glad, without
any coat or obligation, to
Uluitrato thia aervice.
What to Buy
and
How to Buy
WttU b Dept. S-tO for
Dcsctlpllce Literature
STOCKS -BONDS
66 Broadway NewMjrk
Telefhonet Rector 4663-4
.
.'ii.
Ml.
OLD
SECURITIES
CORPORATION
Pays interest quarterly at the
rate of
7
Per Annum
on a security practically 100
safe income earning, improved
city real estate, the deed and
title to which are owned by the
Corporation. An extra profita
ble security for anyone who can
not afford to take a risk.
Send for Prospectus
Old Securities Corporation
509 Fifth. Ave., N. Y.
Telephone Vanderbllt 3136-7-8-3
vm
Berlin 4s
Barmen 4s
Stuttgart 4s
Hamburg 4s
German Gen. Elec. 4s
Vienna y (SpotDel'y)
40 Wall Sin WcW York.
Phortidbhn 6330 i
'The Oil Industry"
for August
will contain an interesting article on
"How to analyze an
Oil Investment"
Upon request we will mail thia pub
lication without charge each month.
R.C.Megargel & Co.
27 Pine Street-UetaT&rK
Falls Motors
Revere Motors
Harroun Motors
Ray horn a Petroleum
BOUGHT SOLD QUOTED
JohnV.Dunne&Co.
44 Broad Sl, N. Y. Tel. Broid 2394
riTTBBUKaH.ClIICAClO.DETnorr
Mark A. Noble
Theodore C. Cnrwln
NOBLE & CORWIN
25 Uroad St.
V'CS
n
-0 I
New Tork
Chase Nat Bk. Otis Elevator Prd.
Equitable Trust Curtis Aero Pfd.
Telephone 1111 Broad
MONTGOMERY" & CO.
Sonit-y. ZrVbtcs y.Otfcrrtd Sfocfu
Philadelphia - New York Chicago
Amer. Lt. & Tract
Cities Service
H.F.McConnelI&Co.
- Utmbtn N. Y. Stock Exchange.
tS n'way. N. V. Tel. Howl. Oreen 30a-9,
OFFICE ot the Quartermaster-General. iUr-
T chaao Service, Clothlnc anil Equipage DI-c-
vision. Munitions Building, Washington, D. C.
Sealed proposals In duplicate will bo re
ceived here until 11 A. II., August 13, 1920,
lor furnishing 11,000 pairs 8Ilk Socks and
' PO.0O0 pairs Lisle Socks. Information on
SELLING FORCES
CURB PRICES DOWN
Trading Dull and Uninterest
ing After Activity in Early
Part of Session.
wo6otnrrmi',39w! jwk mu
7000 Weat Kite Ta, .. 98 Jfifi
FOrtEION BONDS.
1110000 Berlin' 4s 2S ' 2211
SJOOOBremen 4H.... 20 14
18000 Dusasldorl 4j 23 S3
0000 Frankfort 4s... 27 SOU
S4000 French 4s '17. M M
42000 Oer Gov 6a.... 2IW 21H
103000 Hamburg A.. 24
lOOts) Lelplt 4H 23 S3
2CO0O Mannheim 4a... TiK 23
ROOT) Nartnihiinr J a rU
1-100000 Vienna 4a.... IS 7
Another dull and rather uninteresting
aeajton took placa yesterday In the out
side market It opened with trading
airly brisk and several stocka made
small lmprovementa. Tradera wero In
clined to trade on the short aide of the
market, however, and selling forced
prices lower at the close ' Selling was
particularly heavy In one or two oils
In the last hour and pressed values down
more than a point
eimms Petroleum sold early to a new
high for this move, but weakened In the
final hour. (Jeneral Asphalt could not
hold an early small train, but offerings
of other South American oils were fairly
well taken. National Oil of New Jersey
moved to Its recent high mark.
Industrials were dull, but maintained
a ateady tone. Several small gains wero
made and Bucyrua Company rallied af
ter an early decline. Aetna Explosives
was well bought but did not get above
Its high mark of this week.
Pan-American Petroleum 7a were In
troduced to the market Other bonds
were active but little changed.
Total sales and range of prices follow:
astf - U
SJH U
28 ..
23 ..
28U ..
WH4 H
21tt ..
24 W
23 ..
23U ..
23U ..
7 ..
FINANCIAL NOTES.
Mechanics and Metala National Bank has
been appointed transfer arent of the first
preferred, aecond preferred and common
locks of the Associated Dry Goods Corpora-Uon.
INDUSTRIALS.
Low.
24
t
Bales. High.
I2fXJ Acme Coal 2H
1700 Aetna Explos.. ll'i
100 Alum Mfj pf . 02
100 Am Chicle 40
U'l Am Chicle pf 61
Zll Armour i-eaui. lais
M Uor C Milk.. IO
W Uor C Milk pf . M
100 Ilr Emp Rtl... 27
ioo nr e s : pf r.2
100 Br E St 85i pf. WI
Mm Ilucyrus 28
1200 Car Light 2i
too CaracM Sugar S3U
2000 Chi Nipple.... 14
100 Cooler Tin P.. 24
100 Cont Motor...
100 Dom 8 S 64
100 Dom Steel W
100 Empire Steel.. 32
100 Empire SU pf . 73
700 Empire T-8... 9
3400 Gen Asphalt., 60
100 Gen Tractor... H,
1000 Grape Ola ... if,
800 Grape Ola pf. 2
100 D W Griffith. 13
.VO Hercules Pap. 27H
200 Heyiten Chem. 4
100 Hock V I'rod. 8,
100 Hydraulic St'l. 29
100 Hyd Steel pf.. 83
400 Indian Park. 8
73 Inter Rubber. . 13
200 Llbby McNeil, 12Vi
2O0 Llg Int "A"..10l
IOO Mercer Motors 16
10 N C Hank rts til
43 N J Zinc 190
.VO Nor Am Paper 7
3100 Perfection Tire 2",
300 lUdlo Com.... IS
700 hadlo Com pf . 2S
200 Rainier Motors 39
2700 Rep Tire Rub. 2
300 Roy de France 3
100 Stand Gas t E 12V,
100 Stand G 4 K pf 3.H
GOO Submarine B.. 12H
200 Swift lnternatl 33
100 US High 8 Tool 31
6300 U S Steam 24
WO Unl net Prod. IV,
300 Un Profit Shar IH
1200 Unl Ret Candy 14
200 Union Carbide. 63.
40O Willys Corp.... 19
100 Willys Cor 2 pf a
100 Woodward Iron 30
STANDARD OILS.
100 Anglo-Am OIL. 22 22
40 8 Oil of Cat.. 314 312
SS Oil of lnd..fl03 603
INDEPENDENT OILS
39700 Allied Oil t 30
2000 Amal Royalty 23
100 Atlantic Gulf.. 79i
400 Big Heart 10S
23(0 Boone Oil 34
4000 Boa Wyoming.. 14
1300Carlb Synd.... 14';
'.00 CU 8 "B" ctfs 33.
114
82
40
61
1 3 T.
101
Kl
27
32
00
21
2H
MVi
134
24
9
64
9
32
73
84
CIH
1
S
13
264
44
H
29
83
8
13
124
103
134
91
194
14
2S
38'
Hi
3
124
33V,
12
344
31
. IK
I'i
14
13
63
184
S3
50
Last. C'ge.
24-4
114 H
92
40
61
VTt
101
Ml
- 4
1
1
United States Mortgage and Trust Com
pany ha been designs ted trustee under the
Indenture securing the proposed Issue of
120,000.000 of ten year 74 per cent notea of
tlx United Statea Rubber Company.
Select Pictures Corporation and Selxnlek
Picture Corporation report combined net
earnings ot $447,912.12 for the period from
January 1 to May 1.
Depository department of the Bureau of
Trusts has published for distribution a
booklet giving numbers of stock certificates,
voting trust certificates and registered and
bearer bonds of corporations in which, under
authority of the Trading lth the Enemy
act and amendments thereto, the Allen Prop
erty Custodian baa seized right, tlUe and In
terest. Those .Interested may obtain the
publication by applying to tho Alien Prop
erty Custodian, Washington.
Lincoln Trust Company has taken the
whole first floor of the Leonard street aide
of the New York Ufa Building In order to
have larger facilities for handling Its greatly
Increased business of Its branch In that
building. It will occupy the enlarged quar
ters auoui AUgusi I.
HAAti t1!.. M. n .lit - r I . . l - 1 1
, wv.uw.., . uc i ,v. mil unit iij me PUUI1G
1 the partlclDatlnr preferred stock or (he
Farmers Standard Carbide Company at VM
a mare, mien, as ana II issued.
2
1
2
32
06
28
24 .
'4 - 4
14 i
24 H
r- 4
1
4
- 4
..
It -A
13 ..
2fl H
44 ..
SS - 4
29 ..
8 ..
13 4
124
103 -1
154 - 4
91 1
194
7 - 4
24 A
IS ..
244
39 4
li - 4
3
124
334 - 4
12H 4
33 - V,
31
14
I31i U
63Vi ..
184 - 4
JO
Foreign Exchange Explained" Is the title
of a booklet for holders of foreign securities
r reared for. free distribution by William H.
icKenna 4 Co.
J. C. Penny Company reports sales for
June of 13,039,433.76 against sales tor June.
1919, of 2,221, 578.43. Its sales for the first
six months of 1920 were 113,849,814.07,
against 111,300,130.68 for the corresponding
period of 1919.
METAL MARKET.
Jury 21.
Bid. Asked.
Speller, prime
West, Aug 7.S0 8.03
Aluminum 32.00 33.00
Quicksilver 1D0.00
Antimony 7.30 7.73
l'latinum, an ox msn
19.00
July 20.
Bid. Asked.
7.S0
32.00
7.50
8.10
33.00
190.00
7.73
183.00
18.174
19.374
31.03 50.03 51.03
50.03 49.03 50.03
48.80
43.00
00.00
47.80
43 80
43.00
00.00
312
C63
SCO Central Pet.. .. l
TOO CoitM- Ivt pf. 7
7300 Cushlng Pet ... 4
2100 Dominion OIL. 10U
210 Elk Basin Pet. 74
1200 Engineers Pet. Hi
10000 Ertel Oil 4
1000 Esmeralda Oil. A
7(0 Federal Oil ... 24
300PentIand .. .. 14
2000 Glenrock Oil... 24
.V0 Granada Oil .. 10
2300 Harvey Crude.. 1 4
100 Int Petrol .... 344
1(0 Kay Co Gas... W
1000 Lance Creek... 4
ISOOLeetone Pet ... 14
100 Manhattan Oil.
500 Maraealbo Oil. 23
200Merrltt OIL... 134
4fO Mex Pan 124
2900 Nat Oil N J.. 74
100 North Am Oil.. 3
500 Oimulgee .... Vi
2400 Omar Oil 3,
HO Panhandle .... 10
1300 Red Rock Oil. 14
700 Ityan Con. ... 23
WO Salt Creek Pr. 37
lOIOSapulpa Ref.. 0
1200 Shell T T rts. 21
5900 Eimms Pet lfni
IhOOSkell Oil ex d.. 10ft
800 Spencer Pet.... 16
1100 Superior Oil... 164
1000 Sup Oil tr cts. 194
100 Texas Hanger. 4
100 Tropical Oil... 194
1000 United Tex Oil. 4
1300 Victoria Oil, n. 14
600 Vulcan Oil 24
COO Western Statea H
400 White Oil 19
MINING.
4000 Alas-Br Col... II
2) Am Mines 1
1500 Arizona Globe. II
1000 Atlanta t 14
1700 Belcher Dlv..t 3
6700 Bel Dlv Ext...t 3 '
1300 Big Ledge A
1000 Booth f 4
70O Bos Mont..f 64
0300 Caied Mln....f 22
12000 Cal A Jerome., A
2C00 Canada Cop... H
2500 Candelarla 31.. A
200 Carson Hill.... 214
100 Con Virginia.. 24
1000 Cortex 8llver.t 82
1000 Cresson Gold... 14
3300 Divide Ext 25
400 Dundee Ariz... Ts
700 El Salvador... 2
1000 Emma Sliver. f 0
2300 Eureka Croe. . 4
2000 Eureka Holly.. 1
100 Golden Gate.
23
764
10
1ft
114
33
:s)
t'
4
104
ft'
U
A
.24
13
2U
10
A
34 Vi
Hi
U
14
74
244
154
12
3
4
34
10
4
224
304
20H
15
104
13
164
10
4
194
1
24
4
184
23
794
Hl-i
34
!4
134
35S'
30
0
4
104
. 7
14
4
A
24
14
24
10
34V
1H
14
74
23
15H
12
74
3
4
34
10
14
5
21
J3; - 4
- 4
- 4
- 4
3
- 4
- 4
- 4
- 4
4
t 4
- Vi
-3
4
4
'r 4
-14
Electro cop, spot .
i.iectro cop, Aug
I'I. Iron, No. 1 X
foundry 30.03
PH, Iron. No. 2.
silicon 49.03
I1g Iron, plain.
No. 2, silicon.. 47.80
Iks Iron, Pitts
1-ss billets. Pitts ...
OLD METALS.
Dealers' buying prlcts are aa follows:
Cents tier Pound-
' Copper Heavy Cut and Crucible. 15.23015.73
iirnvr nu wre H.OOtf 13.WJ
Light and Bsittoms 13.0013.50
Heavy Machinery comp 14.30V15.00
Brass, Heavy ll.mSlO.OO
Brass, Light 7.00& 7.50
No. 1 Clean Brass Turnings 9.0OW 9.30
No. 1 Comp Turnings 12.5OJrl3.00
Lead, Heavy 6.75jf 7.2j
Tea Lead iy? 5.00
Zine Scrap 4.75J 3.23
LONDON, July 21.-Follo wing are the clos
ing metal quotations:
f s. d.
Copper, spot 90 13 0
Copper, futures 931 3 0
Elec copper, snot 100 0 0
Electric futures 112 0 ft
Tin, spot 2(C! 10 0
Tin, futures 2H7 10 0
Straits 22 10 O
Lead, spot 31 15.0
Lead, futures 36 0 II
Spelter, spot 41 0 O
Spelter, futures 42 15 0
4
1
4
4
A
4
63
21
4
J
CU
14
23
4
14
0
10V
154
164
19
4
194
4
14
24
4
19
3
4
4
64
- 4
' 4
- 4
4
-
A
Changes,
off 10,
off 10s
off f5 10s
off 15 10s
off 5 10a
up 10s
up IDs
off 13s
off 15s
DIVIDENDS.
Am. Linen Co., q. 10
Commercial Union Fire In
surance Co., T,n 1
Laurel Lake Mills, q, 10. . .
Leather Mfir. Co., q, 10ft. . . .
Mechanic, 31111s, q, 10
Merchants Mfg. Co., q, 10?.,
Pacific Fire Insurance, a-a
1.23
Penn. BR., q. 874c
Wlckwlre Spencer Steel Co.
q. 2
Wlckwlre Spencer Steel Co,.,
1st pf, q, 12
Stock of
Record.
July 24 .
.July 20
July 20
July 10
July 20
'. July 20
Aug. 2
July 22
July 22
GERMAN LINERS WILL
" AVOID COMPETITION
Passenger and Freight Traffic
to Be Apportioned.
Berlin, July SI.' Tho Frankfurter
ZcHuno says tho, relations between the
Hamburg-American line and the North
nrman Lloyd line are likely to be de
veloped along lines similar to those pre
vailing before the war, namely that the
Hamburg-American will concentrate on
freight traffic and the North German
Lloyd on ruaacngcr traffic. Tho news
paper adds that a specialty will be
mide of running liners equipped for
steerage passengers.
The newspaper declares that It Is an
nounced In Hamburg that the American
Green Star line .Is about to Inaugurate
a passenger service between Baltimore
and Hamburg and Antwerp.
PUTS COAL FAMINE
UP TO WHITE HOUSE
Minnesota Fuel Chief Testis
ties Before Senate Committee.
Pressure brought to bear on the
White House by the miners has pre
vented the Interstate Commerce Com
mission from issuing an order that
would remedy most quickly and most
directly the country's coal shortage
an order that would make tho direct
assignments of coal cars for exclusive
use by specific mines compujsory. This
was the gist of one phase of the testi
mony given yesterday by G. F. McGcc,
Minnesota's Fuel Administrator, beforo
the Special Senate Committee on Recon
struction and Production In the En
gineering Societies Building. The hear
in; was one of the scries being con
ducted by Senator William M. Calder,
chairman of tho committee.
Sir. McGee testified that while he was
In Washington there was brought to
hU attention a rumor that the White
House hail been notified a strike would
follow such an assignment of coal cars.
He said John L. Lewis, International
president of the United Mine Workers,
was mentioned In connection with the
rumored threat
"You can see the reason for the min
ers' objection." he continued. "If there
are three mines In a group and the
cars are assigned to only one It will
make the men In the other mines dis
satisfied." There was an air of surprise shown
by those at the hearing when the testi
mony of William H. Groverman, secre
tary ol the Northwestern Coal and Dock
Operators' Association, revealed him to
be the author of order No. 10, which
gives priority to the Northwest. The
order was Issued yesterday by the Inter
state Commerce Commission.
Mr. Groverman testified that coal Is
being, shipped intp the Northwest at
the rate of 20,000,000 tons annually,
but of that amount 6.000.000 tons arc
being shipped Into Canada for future
shipment abroad.
CONSOLIDATED EXCHANGE.
Sustained strength In the railway
shares, on which the issues of that group
advanced I to 2.j points before the end
of the noon period, was the ouistandlne
feature of yesterday's trading on the
Consolidated Stock Exchance. The re
fleeted accumulation of those properties
was based on forecasts of the certainty
of approval of such a freight rate ad
vance as would brins permanent Im
provement to the land transportation
Held. In tb.9 Industrials there were evl
dencts of considerable liquidation, on
wntch resulting decline, at tho mini
mum, ranged from 1 to 3-i per cent
$2,000,000
The S. S. White Dental Mfg. Co.
Dated August 1, 1920
10-Year S Gold Notes
Due August 1, 1930
A Sinking Fund of 10 per annum of the amount issued is provided
. WT . .1 l' l s. L.-1-... lilC nnrl itVRt'
to purcnase notes in tne maraec at or hciuw i .
Total authorized 13,000,000. Principal and Interest payable In gold
Notea of 11.000 with nrsitilon for realstratl
107 K and Interest i
CENTRAL UNION TRUST COMPANY OF NEW YORK. TRUSTEE
000. rrlnelpal and Interest payable In gold In New Tork. Interest payable ftbtutn 1 1 and August 1. C.up.n
Notea of Sl.OOO with protlslon for registration of principal. Redeemable as a wnole a
in? u mnti interest on inr Interest date.
New Orleans Cotton Mnrket.
New Oiu.ea.vs, July 21. The opening
in the cotton market to-day was at
lower level3 and prices remained de-
presed all day, at their lowest being
65 to 71 points under the close of yester
day, while tho net chances for the day
were losses of 44 to 31 points. Close:
July, 36.9S; October. 33 91; December,
Ji.is; January, 3i.ii6: March, 31.20.
Spot, steady; middling, 40.00.
BID AND ASKED QUOTATIONS
V. V. KTOfK EXrilANGK OUOTATION!.
UNITED STATES GOVERNMENT BONDS.
Accrued Interest should be added to uie
..t 10
re!.... ,7
wana.i 1
rger,.r 1
23
4A
r
6
4
4
.4
A
A
2000 Gold Cons
1500 Gold Devel
1200 Gold Kew
IWOGold Merger,
8000 Gold Zone....t 14
1200 Great Bend... 1
6VOHattle GoId...t
500Hecla Mining..
4Iron Blossom..
1300 Jumbo Ext...t
1000 Knox Divide..!
100O Louisiana Co...
2.VO McNamara . . .
1400 McNamara Cr.
17000 Marsh Mln...t 11
500 Mountain Stat. i
1CO0 Motherlode ...t 57
2fOMotherl new. fl
100 Murray Mog..f 76
600 Nlplsslng 84
ZMurnortn Htar...r fl
snoophlr Silver...
800 Prince Con. . .
fOOORex Cons t
1000 Rochester M.t
nrito iioper Group.. . ,
1200 San Toy t 3
100 Seneca Copper. 14
13000 811 K of Arlz.t 33
1UUUHII K Dlv t 3
200 Simon 811 L...
20O St Croix Mines
500 8 Sll Lead....
1000 Success Mln..f
SOOTono Bel
8300 Tono CaVt B.f
9900 Tono Divide...
800 Tono Ext
lOOOTono-JIm B.
2300 Tono Mid...
SOOTono Mln..
2000 Tono Mix...
1500 Tono Res E
1000 U 8 Cont...
900 Un Eastern
1000 Victory ....
1100 West End C.
6700 White Capsl,
7
10
14
1
u
4
i
74
14
14
13
0
1A
13
..t 16
t 7
.. 24
.t 6
JA
11
1500 White C Ext..t Jtt
lOOOWilbert t 4
15001'errlngton ...t 2
BONDS.
J.VOO Allied Pack 6s. 70
6000 Am Tel 6s '22. 944
10OO Am Tel 6s "24 024
93000 Arm & Co 7s.. 934
9000 A-Am Oil 74s. 994
MOO Goodrich T 7s. 044
9000 Inter R T 7s, 68
14000 Kennecott C 7s. 93
5000 Pan-Am Pet 7s 944
2O00O Sinclair C 74s 074
10000 Southern Ry 7a 93
15000 Texas Co 7s..r 984
10
7
1
1
13
1
21
4
3A
a
4
U
,oH
57"
5
4
4
7
10
6A
It
31
3
14
1
4
4
1(1
6
14
13
8
14
13
16
7
2ti
6
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244 - 4
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62
14
23
4
14-4
6 1
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10
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4
4
4A
A
B
C
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4
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57
6
76
844
0 1
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1
1
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7
10
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3
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32
3
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m -a
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14 4
1A A
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13 tA
16
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6 ..
10 ..
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4
2 ..
fnllnwlnr nrlces
2s registered
2s coupon
4s registered
4s coupon
2s Pan, 1936 reg
'.a Pan. 1936. couDon
2 Pan, 1938, reg
2s Pan. 1938. coUDon
3s Pan. rec ... i
3s .Pan, coupon
11,11 III land pur 4s, 1D34
I.t,tl l.t ,...1. .tr J. tftl.
Phil Isl pub wk 4s.' 1930
Dlst Columbia 3-63s
FOREIGN BONDS.
Anglo-French Extern 3s, 1920..
T. t A Ittrta .
Argentine Intern 5s, 1945. ......
Kingdom or iseigium s, iihj,.
, 1- Tl. nn 1091
Kinedoin of Bele'lum 6s. 1921 984
Canada, Dom of, 5s, 1921 974
Kingdom of Belgium Us, 1923 94'.,
vanaaa, uum 01,
Bid. Asked.
.1004 1014
..1004
,.103
,.lft"
.1004
.llOVi
.1004
.1004
. 77
. 77
. 78
. 78
. 78
. Ul
. 09
,. 844
. 10
..1001i
97
904
804
414
904
Ml
724
87 V,
844
84 V,
S4,
u.tu
.103
744
724
53
524
1014
1034
103
1014
1014
1014
1014
81
81
83
83
83
U9H
TIM
100H
974
wrtk
97H
1
rnnsiis! Dom of. 1929.'...
Canada, Dom of. 1931 ,
Chinese Gov Hu Kug Ry 5s, 1931.
Cuba Extern 5s, 1941
Cuba Extern. 5s, series A, 1949. .
Cuba Extern 44s, 1919
Dominican Rep 5s, 1938
City of Lyons 15 yr 6s, 1931
City of Marseilles 13 yr lis, 1034.,
vlty Ol uorueau 1. 7 u "1,
City of Copenhagen 23 yr. 54s, "44 744
J . . : . , ...... . I f ,"l 1 nil;
r.nv M Switzerland 8s. 1940.
Japanese Gov 44s, ster In, 1923.
Japanese Gov 4V,s, 2d ser, 1925. .
Japanese Gov 4s, atcr In, 1931...
T",l I'll. Km. SQM
j as ij txi 1 ceu avnsv mj - .... - m
I?,,, f. II. 1. I. rr Mi. OrtJ.
un mils in . . . j . va, - - - -...
t.-i. t: Ilr Z, ir 10 vr KUs.192) R7U
Un King G Br ft Ir 20 yr 54s,1937 834 83
Mexico Extern strl 5a of '09-1943. . 364 374
Mexico Extern Gold 4a of '04-1034. 294 30
Kingdom of Italy 5 yr 64 gold. ... 93
closing prices of stocks In which there
were no transactions yesterday:
uon
434
IKJVJ
R21A
73
hi'i
834
83
83!
744
94
HU4
744
73
554
33
964
02S
.0 70 - I,
94 4 944 -
924 924 u
95 93V4 H
994 904 .. I
94 044 4
00 OOty
92 92
04 94
974 074
924 924
984 984
Bid
Adv R pf.. -J4
Alas Rub.. 604
A A Cable. 103
Al Ch M Pf 70
A A Ch Pt 834
Alb ft Sus.120
Ami Sg 1st 984
A Bk Note 43
do pf.... 41
Am B 8 pf 80
a ni. Hh nf A7
Am CF pf.1034
Amer coai oj
A Cot O pf
A Drug 8.. 11
Amer Ice.. 404
do pf.... 56
Am Lin pf 00
Am Loc pi itjji
1 M 1 R 11
Am Shlpbg 234
A StKdV Df 86
Am Snuff.100
do pf.... TT
A SumT pf 83
Am TelftO. 47
A Whol pf 9(1
Am zinc...
rin nr.... 4IH
Ann Arbor 144
do pf.... -ois
A Dry Gds 32
do 1st PI tM
AssetsReal 2
AssoclaOll 914
AGftWlpf 634
At nefln.1160
do pf....l04
Auto Sales 7
do pt
Barnet L. 53
do pf.... 83
BarnsdallA 40
do B 39
Barrett pf.100
n.rh Crki 2.1
Beth 8 7. 93
do 6. ..106
Booth F... 74
Brown 8b. 73
do pf.... 92
Ask,
H3
62
107
80
87
140
103
44
48
83
90
107
80
114
414
62
93
102
33
23
88
110
87
91
50
93
13
4H
164
43
33
07
67
34
92
83
664
1190
103
8
20
63
90
42
40
1104
33
103
107
8
83
97
Brunswick, u
But ft Sus ..
But It ft P 35
do pf.... 75
Burns Br..l0S
do pf....100
Bush Teim ..
Butterlck.. 13
Butte & S. 224
Butte Zinc 8
Caddo 164
CalPac pf.U7
Cal A Ariz 554
Can South. 40
Case pf... 94
Case I'I pf .
C Leath pt 974
CRRofNJ 200
'Cer de Pas 434
Cert Prod. 30
do 1st pf '87
do 2d pf. 93
Chi ft Alt.. 7
do pf.... 10
Chi E I ct 6
do ct pf. 6
CftNW Pf. 984
C Gt West 8
do pf.... 22
r twit t mi
C&tPAO... 58
ao pi.... eu
CRI4P 72
CCCftStL.. 32
do pf.... 60
ClevftPltts 37
CI Peabody 73
do pf.... 90
Col ft So. 24
do 1st pf 46
do 2d pf. 33
l-nl fl ft E !UU
CoIGrph pf 82
Comp Tab. 484
l on cigar. ikh
do pf.... 824
Cor Gas.. 78
C011 Can.. 82
Ai. nf !
Cont Insur 68
Com P pf.lOt
Crex Carpt 34
Cru Stl pf. 94
Ask.
6
63
112
115
83
134
22
9
174
1:11
38
50
93
03
100
220
44
51H
I)
15
74
74
103
84
224
91
63
90
744
534
66
62
77
100H
23
49
50
36
4
30
65
83
70
83
105
73
102
58
03
Bid.
Cub AS pf 10O
Del !t Hud Kl
De Beers.. 314
lHen pf.. 0
It Edison 97
DeUMack. 97
Dot United 02
Diam'd M.100
V'orr.c Mln. 9
Dul SSftA. 4
do pf.... 9
Durham II 45
do pf.... 1)1
Elk 11F pf 33
Elec Stor..H8
Emer Bran 13
do pf.... 734
Indie J pf 914
Fed M ft S 12
do pf.... 34
Fairbanks. ..
Fisher It. .110
do pf 103
Gen Chem.ICO
do pf.... 91
Gen Cigar. 034
do pf. .. 92
do deb pf 804
Gin Elec.142
Gen Mot pf 744
Cc-odr'h pf 86
Gray A I. 224
Gulf MiN. 124
do pf.... 30! j
Gulf t'tftl. 59
Harvester 127
llendee M. 29
Homestako 32
Int Agri... 22
do Pf.... 82
Int-B Con. 3
do pf.... 10
Int Mot T Wi
do 2d pf . 0(1
Int Nick pf 79
Int Pap pf 93
Inc Salt. . . 60
Iowa Cent 4
Jewel T pf 30
Jones Tea. 20
KanFtSpf 60
Kan C S.. 164
Kayser !m
do 1st pf.100
Kel SpT pf 83
do hi... OS
Kel Wheel 60
do pf . . . 82
Keo ft DM 4
do pf.... 20
I'.rcsge SS.1 13
i"o pf. ..101
Kress S II. 81
dn pf,...10O
Lac Gas. . 30
iAkeEAW. 9
do pf.... 174
Leo Tire.. 23
Llgg ft 31.130
Liggett 11. .1.10
L ft M pf.100
Loft 14
Lorlllnrd .138
ilo pf.... 99
Loosc-W. . 45
do 1st pf 96
do 2d pf 10
Malllson... 15
Man Beach 4
Martin Py. 23
Man Shirt. 24
Mackay... 62
do p.... GO
SlanSugpf 874
Merlin I!.. 45
Math Alk. 33
-May De;p t? SO
de pf... . 94
Maxw 2 pf 13
Mcx Pet pf 934
MICH Cent.
MASL new
MPSSM...
do pf ...
MSSMLI...
MKftT pf..
Mor ft Es.
Mulllns B.
do pf....
NC ft StL.100
NatAnll pf 01
Nat IMs vi.ua
NatC AS pf 95
Nat KftH.. i?j
do pf.... 93
Nev Cons.. 12
NRySl Ipf 84
do 2d Pf. 3
NOT ft M 33
Ask.
!t.i
34.
99
101
101
934
115
94
44
10
50
97
3SU
122
20
82
W.i Pac Coast.
13
70
VI
.50
104
58
, 30V1
93
13
37
65
120
1904
170
94
co
100
82
141
7tl
23
13
32
6.1
130
31
33
23
84
3
114
56
684
80
100
"(1
38
23
174
ino
113
814
101
70
89
4
to
160
103
924
38
104
19
274
133
138
101
154
141
100
53
103
123
21
-'4
244
28
01
604
90
384
40
81
102
.25
9H
83
13
71
85
34
114
03
384
no
93
106
71
93
124
14
54
so
29
50
4S
32
17
Bid.
N 1 Air B 99
NYLncftW 78
NVCftSlL..
do 1st pf
do 2d pf.
N Y Dock.
NVOAW...
Nlss-Pn nf
Norf ft So. 20
Norf ft W Wi
do pf avi
Noith Am 30
Nvnnally.. 15
fliio Fuil J
Ont Silver. 6
IJl s Sll nf
0ens B pf
30
93
. 344
. 304
. 81
do 1st pf 60
do 2d pf. 45
Pac Dev.. 43
Pac G ft E 4t,
l'ae T ft T 42
do pf KS
Pac Mall.. 30
Parish ft II 31
Penney pf. IK)
PeopleaGas 33
PeorlatE.. 9
Pere M pf. . .
do u n. .VJ
Pet-Mul...
do pf....
Phlla Co,.,
ITiilllp J
ilo nf. .
Pleroe A pf 88
PCCiStL.. 70
Pitta CI pf hi
PFWC pf..H3
ritts Stl pf 83
I'ftWVapf 74
Pond Crk.. 10
Pr St O pf 084
Pub Serv. . .
Itand 18
By SI 8pg. 03
do pf.... 9HVJ
Robt Rels. 15
do pf.... 80
Read 1 pf. 42
do 2d pf . 43
Rem 1st Pf ..
do 2d pf . 83
SeahAl. nf 1111
SearsR pf.ia",
Moas-Sh pf 87 .
Fhattuck... 9
SI'R Bug. .263
do pf.,..l03
.Stan 3I1I1..I20
do pf,... 78
MernBr pf 90
Studeb pf.. 92tJ
Sup Stl pf. 09Vi
Temtor A. 40
do B 43
Texas LT.300
Tide W O.190
Tob Pd pf. 88
TStLftW.. 8
do pf.... 13
do ctfs.. 12
do pf ct. 17
TransAW. .-.lit
Twin City. 33V,
no pr, ., 63
Underw'd 1614
do pf....l05
U Clg Sts.130
do nf.,.. 93
Un Alloy.. 424
Un Drug.. 117
lo 1st pf 43
do 2d nf . A3
Un Dyew'd 33
do nf nil
UnRInvpf 18
I'PInAtp nf Ol
U S Smelt. 57
do nf 44
Va-C C pf.1044
Vulcan D, 17
.Vest A n.lft.1
WestM 2pf 14
W Pac Df. 64
W ft I. E. I0i
ilo llf 134
Wilson pf.. 48',
WllOver nf 81 '
Wis Cent.. 27
Wool'h pf.102
Wgthgtn P 68V4
do A.. .. 75
Ex dividend.
Ask.
100
83
30
70
52
33
184
104
24
90
66
37
16
101
98
40
100
CO
46
48
46
93
32
324
94
34
11
47
60
39
115
35
50
88
93
70
854
120
91
70
164
100
63
29
96
994
16
81
43
43
96
99
I4V
112
8!)
10
293
104
150
S3
99!.
03
49
43
450
210
99
15
20
15
20
334
JBiVi
95
170
117
175
103
44
153
48
33
66
21
08
38
1074
114
21
107
16
63
104
"4
4!)
83
28
106
70
83
The folloiring ivfonnation it contained in a letter to us from Mr. Frank 11. Tay'or, PrcsHen' of the Cimpii'j:
The Company and its Business The S. S. White Dental Manufacturing Company, or
ganized 76 years ago, and incorporated 37 years later, in 1881, is1 the largest dental
manufacturing company in the world, its products comprising practically every re
quirement of the dental profession.
The company's products are manufactured in its factories located in Philadelphia,
Frankford, Pa., and Staten Island, N. Y., and are marketed through the company s
own retail stores in many of the larger cities in this country, through affiliated com
panies in England, Canada and Brazil, and through approximately one hundred dealers
in the United States and two hundred dealers located elsewhere throughout the world.
When incorporated in 1881 the company's net tangible assets were approximately
$837,000, and except for the proceeds of this issue, have been increased to the present
figure of $8,772,314 solely through the reinvestment in the business of surplus earnings.
Income 64 Times Interest Net income, available for interest, and Federal taxes, for
the three fiscal years ended December 31, 1919, with estimated net income for 1920
based on actual results for the first five months, is as follows:
Estimated 1920 1919 1918 1917
$1,500,000 $1,388,829 $705.7! 1 43 1,509
Including the estimated results for 1920, the average annual net income for the
four years is in excess of $1,000,000 or nearly 64 times annual Note interest.
Net quick assets are $6,280,803, and net tangible asscts'arc $8,772,314, equivalent,
respectively, to $3,140 and $4,386 per $1,000 Note. ,
Provisions for the Notes -The Notes are the direct obligation of the company, and com
prise its only funded debt.
The company covenants that net quick assets will at all times be maintaincdjsqual
to at least 200 of its total funded debt.
No bonds, notes or other securities ranking ahead of this issue can be created while
any of these Notes remain outstanding or unprovided for.
The Trust Deed provides for a sinking fund of 10 per annum of the total amount of
Notes Issued, to be available semi-annually, for the purchase of Notes In the market at or
below 105 and Interest. In the event that sufficient Notes are not so purchaseable, the
unexpected balance of the sinking fund will, at the company's option, be used to purchase
Notes at a higher price if obtainable, or be invested in securities, approved and held by the .
Trustee, maturing prior to the maturity of the Notes. The Notes cannot be called for the
sinking fund.
Purpose of Issue The funds derived from sale of these Notes will afford the company
additional working capital required by 'the increasing volume of business.
Price 100 and Interest. To Net
Boston
Wm. A. Read & Co.
Nassau and Cedar Streets
New York
Chicago
Philadelphia
The information contained in this advertisement has been obtained from sources which
we consider reliable. While not guaranteed, it Is accepted by us as accurate.
GRAIN MARKET.
The news of yesterday in tho wheat
market was of more bearish nature and
early In tho session prices declined 6
to 7 cents from Tuesday's close. Tne
market was n. narrow one and when
shorts attempted to cover prices re
gained most of their losses and closed
with net defines of hi cent to a cent.
Cash Interests wero fair buyers of con
tracts and cash prices in the Northwest
advanced 5 cents a bushel, in Kansas
City values were slightly lower and at
the seaboard the market was barely
steady owing to an absence of export
demand. British buyers were again
out of the market and there was little
or no inquiry from other soirees.
A report by the Kansas Stato Board
of Agriculture placing the crop In that
State at ll47.0QO,000 bushels, against
last month's estimate of 110,000.000,
was partially responsible for the early
break, na the Increase In the hard win
ter wheat crop was thought to offset
losses claimed In the spring wheat re
gion by black rust There were numer
ous reports regarding rust damage, al
though on the whole the trade was not
I alarmed about the situation and the
weekly weather and crop bulletin said
that, aside from considerable damage
In Iowa, little loss was indicated and
that the spring wheat crop had been
affected favorably by weather condi
tions. Underlying conditions In the corn
market were In favor of a further
downward readjustment in. values.
Early in the day the market lost 14 to
3 cenls a bushel under scattered selling
due to warmer weather In the belt,
which was favorable for the new crop,
and continued liberal receipts, especial
ly at Chicago. The technical position
of the market waa considered firm ow
ing to recent heavy selling, and per
sistent buying on the part of leading
elevator Interests in the West started a
general covering, movement
WHEAT In the local cash market No. 2
red and No. 2 hard wheat were quoted at
$2.92, c. I. t.. track. ,
CORN In the local cash market No. 2
yellow corn was quoted at SI. 734. cost and
freight, New York.
OATS The technical position of the oats
market was believed to have been strength
ened by the recent operations on the selling
ride, ana niter nnowin: rntij
prices rallied and closed firm, with net
gains of c. to 4c. Cash houses v.ere good
buyers of contracts, despite favorable
weather and crop advices. In the local cash
market prices were unchanged, with Nos. 2,
3. and 4 white quoted at i.i ana ei.io:
fancy clipped white. $1.18; ordinary clipped
white. 31.16. all elevator.
KYK Market ea'y: No. 2 fffl'T. 2.41,
f. " b., and 82.32. c. I. f.. New Tork.
BARLEY-Market weak. fee-Un. 11.2o:
malting, $1.33, c. i. f., New York.
miiAYMarket quiet: No. 1. 12.1332.25: No.
2. $2.0W2.13: No. 3, $1.09B2; shipping,
a. .njnl O- V
STRAW Market quiet; No,
MEMBER NEW YORK CLEARING HOUSE FEDERAL RESERVE SYSTEM
FIDELITY - INTERNATIONAL
TRUST COMPANY
' NEW YORK
MAIN OFFICE
Chambers and Hudson Streets
and Weat Broadway
WHITEHALL BRANCH
17 Battery Dace
'Under date of July 20, 1920, by vote of the stockholders
of both Institutions, the Fidelity Trust Company and The
International Bank were duly merged.
The name of the enlarged Institution is
FIDELITY - INTERNATIONAL . ; ' .
TRUST COMPANY w
Capital .:
Surplus and Undivided Profits.
Deposits over
Total resources over
. $1,500,000.00
. $1,503,033.03
.$20,000,000.03
.$23,000,000.03
1 rye. $223
WHEAT
December...
March
CORN-
July
September..
December...
OATS-
July
September..
December....
CHICAGO TRICES.
Open. High. Low. Close.
,. 232 237 230 236
. 253 201K 233 2GI
148 131;
I48H I32U
136U 139
89",
76H
71
91
US 1S1X
147 132',
133 139
89 91
731J 78H
74 73H
Tues.
day.
237
2dl!s
149
130H
137H
89tt
76
73A
I
By reason of the increased amount of its resources, this
Institution will more than ever be in a position to care for the
financial needs of its clientele.
SAMUEL S. CONOVER,
President.
EXECUTOR
ADMINISTRATOR
TRUSTEE
GUARDIAI-J
i.Ann
July
September.
RIBS-
July......
September.
19.33 19.33 19.12
16.83 16.S3 10.67
18.R3
19.33
18.33
18.83
18.92
19.42
18.09
18.91
TO UK
July September
Yesterday
28.00 28.15 27.80
INTERIOR RECE1FTS.
Wheat. Corn.
26.03
23.15
26.85
28.25
943.000 670,000
Oats.
644.000
Last year.".7.V.'.2.3$b,'ofli 397.("rt
SEAIlOAnD CLEAR AM
11.... XVhi.lt
ri.ui. -
31.000 111""
l,U.tt"'
Cor
Yesterday
Last
Lst
week.
year.
6.000
23.000
619 !"'
1
I
1