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THE SUN AND NEW YORK HERALD, FRtDAY, AUGUST 20, 1920. 11 i On The Sew York Stock Exchange A Comparison Th wealth of the United States at reported by the ('ensue Bureau In 1915 was $188,000,000,000. Ui iiirn, hi -UK this, corporation had issued about onu hundred billion of stocks and bonds; nml Federal, Hate and city jjovcrnroenta about twonty II vu billion dollars of bond. The total of storks aad liosds Muted on the New York Stock Exchange as of February IB, 11120, wits con servatively estimated at sixty billion dollars, equal to nearly one-third of our estimated national wealth and nearly one-half of ,the vulue of nil the securities In the United States. A. A. Housman Ci C6 r New Turk KtneU RvfK New York Cotton Exon. N Y. ('off AM A HllM Member, NaW York Produce Kxoh. Ohloniro Hoard of Trade. Associate Members of 'Liverpool Cottc. Assn. io Broad Street, New York 1 1 ruin li Offices: M West 33d M. New York City, l iberty llnlldlnir. Philadelphia GRAIN PRICES DROP ON POLES' SUCCESS Wheat Tails to lower Levels as Enropcan Conditions Are More Favorable. A List of INVESTMENT SUGGESTIONS wiO be sent on request Graham, Parsohs SCo 435 Chestnut St. 115 Broadway Philadelphia New York Rector 9112-5 W. F.Udd&Co. investment Securities' New York Beau Site, Com. & Pfd. National Casket U. S. Finishing, Pfd. Conley Tin Foil LYON AND CO. It PmeSt.,N.Y. Tel. John 854 The succaae of the Poles In repulslnv the Russian was reflected In yester day's lower sruln market price. The 1 European situation ha beon one of the supporting- factor, and when conditions became moro favorable it wa natural that wheat and other grab) should drop. Wheat tarted steady, but selllnK iorcoi prices down 3 to 3', ( cents a bushel. SelllnK wa Inspired also by weakness of corn. On the break ele vator, cash'and shipping; houses bought llborally and the market recovered. De liveries, however, again weakened and were near the day's low figures at tho ciose. wo.export business was reported yesterday, but seaboard Interests said that 660,000 bpshels hud been worked in the last two days. Good ruins over Karma and parts of .Nebraska and further reports of favor able prospect for an Increased move ment and general liquidation In other commodities caused the corn market's break. With reports of rnius cumo pre dictions of continued showers in dis tricts where they were needed. That Improvement had the effect of moving farmers to sell. Advices from Illinois points said that they wero more willing to sell and predicted a material increase In the movement within ten days. With the exception of a house with seaboard connections buying a large lino of September, oat trading was feature lee. Tho market had a heavy under tone, in sympathy with corn, and was inclined to drag.' Cash price wero un changed. Provisions were lower, due to liquidat ing sales, becauso of the sizo of the stocks in tho monthly statement. Al though storks were no larger than they wero last month, the trade was disap pointed because they did not decrease. WHEAT In the local cash market No. 2 red and hard wheat was quoted at $2 ;; . c. I. f. track New York. COItX In tho local cash market No. 2 yellow corn was quoted at$1.73 c. 1. f. New York. OATS In the looal fash market No. 2 whtto was quoted at 04 cents; No. 3 white. 03 cents; No, 4 while. 02 cents; fancy clipped white, 90 cents; ordinal" clipped white, 03 cents, all elevator. KYK Maiket easy. No. 2 Western. $2 33"j f. o. b. and $2.23 c. I. f. New York. BAULKY Market steady. Feeding, $1.18; limiting, $1,110 c. I. r. New v.rk. HAY-Markot steady. No. 1, $2i)r, to $2.1.1; No. 2. $1.95 to $2.0-,; No. 3, $1.80 to $1.00; shipping, $1.50 to $1.75. STRAW Market quiet. No. 1 rye. $20.00 to $22.00 a ton. BROWN BROTHERS & CO. Philadelphia Established 181b NEW YORK Boston Railroad Securities We have made a careful study oi the effect of the rate increase on different issues of short term and long term railroad bonds and shall be, pleased to make sugges tions ior investments upon application. BROWN, SHIPLEY & COMPANY Founder Court, Lothbury LONDON, E. ((. Established 1810 fm . ,,, 'iv.... i...... 123 Pall Mall, LONDON, I, . COTTON MARKET. K'HICAGO PRICES WHEAT: Open. Pi Mar. ... CORN Si pt. ... May .... OATri: Sept. ... Dec M.nv LARD: Sept. ... RIBS: ept. ... PORK-: ept. ... Oct .330 .241 .144 . 123 .119 . MS . 118 . 70 .is.r-i . 18.05 .1 1. on .15.43 .34.60 .25.00 lllqh. 240 211!., 144 ISM 1107, 88 eavi 70 18.55 18.00 14.05 IS, 15 24.50 25.00 I.OW. 2117 2;io 140 120 tin! 07 t'.T'i IS 15 18.50 1 1.75 15.27 21.15 25.00 Ween rinse, day. 237 231) 140 121 118 07.4 07 70 18.32 18.05 14.75 is.sn 24.20 25.00 233 210 145-4 123 119 A8 08 70 18.80 18.00 15,07 15.52 21.80 25.50 INTERIOR RECEIPTS. Wheat. Corn. Yesterday 1,248,000 272.0O0 I.OSt wrek 1.288,0(10 251.000 Last y,.Hr 2,083.000 3119,000 SEABOARD CLEARANCES, Flour. Wheat, 18,000 4H7.(K 403.000 121,000 2.078.OO0 Oats. 1,042,000 10,000 980,000 Corn. Yesterday. Lnyt wCw Last year National City Bank STOCK RIGHTS CLINTON GILBERT 2 Wall St, N. Y. Tel. 4848 Rector We offer, subject to sale. Tidewater Oil Imperial Oil, Ltd. Humble Oil & Refining Douglas Fenwick & Co. 34 Wall St., N. V. Tel. John 340 CHILE, K0ADS WANT LQAN. Si u Ftientes Approve Mesnags to CongreN Asking 75.00O,OO0. SANTIAGO, Chile, Aug. 19. President Fan Ruent i has arproved a message to Congress uskintr authorization for a loan of (ipimximatcly $75,000,000 on behalf of the State railways, which would take op previous loans and be for purchasing new equipment and making improvements, including electrification of the lines. Half of the amount of the loan would be sought in Chile and tho remainder Abroad, Question of the loan was brought up at a conference of Government and railway o'clals and bankers In July, when steps were taken to relieve the railways of the fuel shortage under which they wero working. Heavy, general selling cause,! a con tinuation of Wednesday's decllno In the cotton market yesterday, and prices broke more than 5 a bale In tho last hour of trading, when piiessure by Wall Street bears and sudden local liquida tion reached Its heaviest point. It was evident that bulls had lost all backbone and wero discouraged because of the market's action In the face of such fac tors as improved foreign news, steady cables end adverse weather conditions In the belt. Somo of tho trnde explained the decllno by tho statement that all commodity markets must In the natural course of events and in time drop sharply before tho nations' business could return to a normal basis. At one period of the day there was a substan tial rally which took nearer months within a few point of Wednesday's clos ing. That upturn Immediately attracted new cotton and tho consequence was that offerings increased with the reaction until tho market had made new lows Io: the dny. There was llttlo doing in Liver pool i spots yesterday, a total of 4.000 hales changing hands. The local market was unsettled from the very beginning, when prices wero off 15 t'j 47 points on active months and July sold unchanged. The feature at the start was tho selling of 10,000 bales of October by a trader who operated for Wall Street or an uptown account. That pressure broke tho spot mohth from 28.60 to 28.15, and had a depressing In fluence on all mont!. Business was the most active in many sessions and many interests took a prominent part around the ring. The South was a seller and there was pressure from Liverpool at different times. The forenoon drop ranged from 40 to 80 points, and most pressure was on near options. Toward the middle of tho session shorts wero active buyors and about fi,00 bales were covered In a compara tively short time. Feeling, however, re mained against the market and detailed weather bulletins were a little more fa vorable than those of recont sessions. When more urgent demand of shorts had been satisfied the market turned in trend and soon had lost ull of Its rally and mado new lows for the session. De cember sold as low at 26.75, or off 125 points, and May dropped to 25.60, ofT 111 points. Scattered profit taking by shorts developed In the last few min utes, and options milled 6 to 25 points from tho bottom, the close being net 85 to 104 points lower and local spot off 75 at 34.25 cents. August .... September., October ... November . Droember . Ja -uary ... RanBO of prices-- Wednes- Open. High, Iiw. Close. dav. 28.83 28.83 28.83 28.75 N 20.(10 28.50 li 211.35 28.00 28.70 27.85 27.88-90 28.7.5 28.20 28,20 28.20 27.40 N "28.40 27.55 27.00 20.75 2A.IH1-98 28.011 20.75 27.00 20.17 20 25-27 27.22 F i truer? 211.15 n 27.10 eh .... 26.55 20.85 25.98 28.10 T 27.00 April 25.(15 N 20.85 m.)' ... t. -i, .'i .i.ii z.n., i .'li. i i t Juno Sft VA M M Aft I July 26.50 2A.50 25.72 2.VM0 N 26 VI N nominal. II bid. T trade. Spots Local, 34.25; New Orleans, 32.50. Tester- Last Last day. Week. Year. Port receipts 5,388 8,594 13.231 Report i4.o;s2 392 Exports, aeaaon 95,252 58.645 317,059 New York stocks... 33.875 33,3.19 UtMO Port stocks 703.543 718,042 1,019,1814 Interior receipts 8.100 3,060 3.47U Interior shipments.. 7,29" 5,080 5.580 Now York arrivals.. 200 2,733 Liverpool cables Spot eetton in moderate demand at 72 points decline; refilling, 25.43d. Fnles, 4.0U0; American, 3.000. Im ports, 2.000. all American. Futures opened at 45 to 47 points decline. Closed barely steady at 43 to 05 points decline. October, 21.48; December, 20.40; January. HMO; March, 19.60; May, 19.28. Manchester Yarns dull and easier; cloths buyers hold off. BONDS IN STOCK EXCHANGE THXRSDAYArGDST 19, 1920. Day's sales . Year to date 1920. . . $10,337,000 . .3,071.819,000 1919. $11,848,000 2,093,596,000 1918. $8,724,000 976.567.000 Closing. Rid. Asked. RANGE OF LIBERTY BON'DS. Sales (in 20.00 90.i4 4.12 84.20 84.50 5.08 84.14 84.24 5.20 84.52 84.70 5.32 S4.24 84.30 6.48 96.00 S7.74 87.80 .16 84.54 84.60 5.60 95.56 95.0 6.42 95.56 95. 60 5.40 Yield. M.OOOs). Onen. Hieh Law 1,097 3H-S (1932-47) 90.10 90.10 89.96 1 1st cv. 4s (1932-47).. 84.34 84.34 84.34 29 2d 4s (1927-42) 84.06 84.20 84 06 SO 1st cv. 4V,s (1932-47) 84.62 84.80 84.68 1,234 2d cv. 4's, (1927-42) 84.16" 84.34 84.14 . . let-Id cv. 4t4s (32-47) 1,384 2d iUl (1928) 87.72 87.S4 87.70 2.601 4th 4',s ( 19,1.1-38)... 84.54 84.68 84.50 1.025 Vic. 4",s ( 1922-23) ... 95.64 95.60 95.50 381 Vic. 3s (1922-23) ... 95.50 95.58 95.50 Net Last. Chgs. 90.00 .02 84.34 .36 84.16 .04 84.70 .08 84.28 .06 87.78 .02 84.56 .06 95.54 .02 i 95.54 .04 j United States, Foreign Governments, Railroad, Industrial and Other Bonds Vn f ft R II & Co ctrs 15 63 METAL MARKETS. 51.05 49.80 American Thread Fajardo Sugar Singer Mfg. British FREDERIC H. HATCH & CO. 74 Broadway, N. Y. Established 1888. Tel. Rector 6340. WIRB CONNECTIONS Bo. ton, Chicago, rhiia,, Montreal, Pittsburgh Aug. 19. Bid. Aiked. Epelter, prime West, Sept Aluminum 32.00 33.00 Quicksilver $8.;. on Antlmuny 7.00 7.25 Platinum, soft ?2n.oo Platinum, 5 ir $140.00 Platinum. 10 lr $175.00 Electro cop, spot .... 19.00 l r.iuuiru eop, ney lu.w I Pig Iron, No. 1 X foundry 53.80 54.80 Pig iron, No. 2, silicon 82.05 53.05 Pig Iron, plain. No. 2. silicon.. 50.80 SIM Bess Iron, Pitts 47,0TT Bess billets, ruts .... oo oo LONDON, Aug. 19. following are the clos Ing metal quotatlonsf I a. d Copper, spot 08 In 0 Copper, futures 03 0 0 1 .leet.ru copper, spot... 11 1 0 0 Electro copper, futurcsll7 0 0 Hales Spot, 100 tons; futures, 000 ton Tin. spot '...275 5 0 up 1 Tin, futures 2SJ o o Wtralta 284 0 0 Singapore 2c(S 0 0 Sales Spot. 60 tons: futures Lead, spot 35 10 6 Lead, futures 30 0 0 Spelter, spot 41 (1 0 off t'pclter, futures 42 10 0 off Aug. 18. Bid. Asked. .... $85.00 7.00 7.23 8120.00 $140.00 $17.1.00 19.00 1SU2!4 .... 52.80 52.05 50.80 47.00 65.00 Anr oFrenrb Ss 193 Oflla la 0014 8 991 2 City of Pari as 1 91 1 Ol's 8 907S 4. UO. 8 904a Culled Klngjrn v 1 11m 1 963, 1 9BU 1 Oil's 2 901s 1 9H Ms "23 rcti BOI4 13.. . 15... 5... 8. . . S.. . 3... 22.. . ..90 . ,M1 ,.RM .. . . 81VI4 -SIvn 894 NY City Hs 87 8 90 NY City Is 19511 2 81 Alaska U cv 6s Series A 1 121s 6. IS bmmSmalasi u 5. 2..30...74la 1 7BJ 1 75 74ia AmTAT v lis Ms 1J3 rets 3 84 s s.iai 5 83ia 4 Nj 3.. .....88 Bti 1937 BitablUhtd 1888 H. F. BACH MAN & CO. Members New York Steog Kxehanc Philadelphia Stock Krxcbanga New York Cotton 'Bxcbaac 61 BROADWAY WR WILL IK Y L, mil Oil Scrip Cosden Co. Scrip IntenssTl Motor Trook 2d Tfd. Scrip H.F.McConnell&Co. fmbrs K. Y. Stock Kzchangt, M ll'wuy, N. y. Tel. Bowl. Oreen 5080-11. Changes, off 7s 6d off Ills up IDS off Wa off 12 10a 90 tons. It DIVIDENDS. e... . 4... 10... 1... e... 3... 4... 19... 36... a.. .8178 ..82 ..B17g ..82 ..8l34 ..8178 ..82 ..8178 . .8158 .8 J 3. 8.. I., 4, . 4.. I.. ,0li ..05.1s . .O.ilj . . O5I4 . . ..05U ,.8811 1 Beet AmTAT clt Ss a 77ia 2 7734 a 7sia a 78ia 1 7734 Am TAT clt 4s 4 7588 8 75 3 7478 1 76 8 761a Am Tobacco 4s 1 73 AmWrltlngP7s 1 78 Belgian Oot7Hs! Armour 44s 8 9712 7 7414 14 97 1 971a 0 078 4 971a 2 973b 3 071a Belirtfin Uov s 1931 2 881a IMJ 8 OUa ItallanOovt'Si 1 .93 SwtatOv 8s rets Stock of Record. Csmhrla Steel Co.. q. 75c... Aug. 31 Cambria Steel Co., ex. 25c. Aug. 31 Chandler Mot. Co., q. $2.50.Hept. 10 Foundation Co., q. 2Vj. . . .Sept. 1 Inter. Cement Corp., uu. 2t4o ......Sept rackard Motor Car. Co. pf., q. $1.73 t Sept. 1 rotonwka Mills Corp., $16.. Aug. 17 Procter s) (iamblo Co. pf.. a.. tl.R0 Aug. 25 T-nlted Paaer Hoard. $2 Stpt. 2 nn. Paper P. pf., q. $1.50.. Oct. t tin. Paper B. pf., q. $1.50. tJan. 3 tin Tapar B. pf., q. $1.50.tApr 1 ITn. Pamir B. nf.. n. $l.r,0.tJuly I I William Carter pf.. q. $1.50. Bept. 10 Willys Corp., 1st pf.. q. $2. Aug. 20 WMtanouae, nip. waw a Co.. atk. 100 t1021. ' rinmnriml seal ysesi SWT E.W.Waier&Ct. Maaikan ir.t.a rif Saw Y rtwSj J3 New St., New York Pay able. Sept. 15 Sept. 13 Oct. 1 Sept. 15 15 Sept. 30 Sept. 13 Sept. 15 Sept. 13 8pt. 16 Oct. 15 Jan. 17 Apr. 13 July 15 Sept. 13 Sept. 1 EX DIVIDEND TABLE. Fdy 'pi";;;::":; pf. (accum).. r Special Rail Letter on Request ShOTnaititMillstS-CQ - Members M)(Stodt Exchange UP Broatvay, NVY W.'xTJl. im -i asaasses To-daj' Acme T a 1st pf Amer. Brake Shoe ft Amur. Smelt a Ref Amer. Window Glass Atlantic Rf. Co.... Atlantic Surar Ref. Brooklyn Kdleon Brown Shoe Co........... Canadian Paclflo Ry. pf . . Cerro De Pasco ! Copper Range General Chemical 'Hart, Bchaffner Marx . 1 Inter. Harvester (stock). 'Manhattan Shirt .National Cloak Bult pf.. 1 National Load pf Nebraska power pi 1 patehoirue Plymouth Mills lltts., Youngfttown Ash. Standard Milling uo ! standard Milling Co. ex I Star.nard Milling Co. pf Msrn Bros. pf.. I tjtern Bros, (accum.) pf 1.75 2.00 1021 .102U . 102 . 102U .103 .V0214 1021a 10238 . Uttia .10214 .1021a . 102.19 .1021 1 .102s 1021a .28.00 . 2.00 . 1.73 . 2.00 . 1.00 .$ .50 . 2.00 . l.OO KM .43 . 1.73 . 1.75 . 1.75 . 2.00 . 1.73 . 2.00 200 1.50 1.73 eeae 1.73 t 5.... 2 2.... I.... 3. .. . 4 1 2.. . . 1 1 12,.. . 1 1 City of Copen ha gen 6Ws 3 78S4 3 7flla B 76 Dm ( 'nnadaSHa IMI 2. 971a ifl.a S 10 .J0g 3 01 Dom Canada 1 1911 t 98U INt 1 86I4 1 8W8 Rep of Cuba it teot 1 87 US of Mexico tt 1 29 1.00 ! ArgentinoOvSft 180 5,00 1 748 AT&SPcvU 1W 6..B30...81 AT A SF Ken Is S3p.. Cen Oa cn 5 ft 7ffl Cent Paciflc 1st 6 09 Cent Pac 3H 1 751) Che a) ohio ss 1 87 C A O cv .Vi ia 8 761a 10 76 15 7(U4 10 70Ss 1 70U 10 76 6 761a CtOcr vi 1 72 Chcs O 4ls 4 097., 1 7014 1 hi.V Alton .l'ji 32 34 t BQ Joint , 27 94 :: K.m. . .': 2 94l8 0 91 Chi ha q (rm 4s 6 76 I hIBAQIll 3Hs ..ft80...67l4 5 08 C B A Q Neb 4s 2 8ft 2 838 Chi Ot West 4s 3 ftllg 2 62 CMAStP cv 5s 3 041a 1 6." 4 Oulg V M A St P gm l'l 3 7H3 C M A St P cv 1 31r 3 631a Ben A RO fills ft 41',.. 1 40Ss Detroit Fn 4Vis 5 591a 1 .V.I Erls 1st con 7s 1 98ia Erie cv 48 ser A 2 3514 10 BSIal Krlo cv 4s ser B 2 Erie cv 4 Nash CAStLfa 1 oiia 2 nat l ube Js ft 84 NO Tex A M is 24 491a 1 49 N Y Cen deb H 3 8844 4 89 4 883 a 9U3 3 88la 3.58iN Y Can 4W D 1 731a 37 2 741a Erie gen 1 NY Cen deli Is 33 set 1 72 0 3968! R YCeoaKs Cen Electric It I 7 115I4 2 98 8 6.ila 6 97.1s'NYChlASil, i 44 74': .7438' .74Jal .7414 .748 .741a AT A BP adj is 1 578 stamped 1 60 AtCoastLIno 7i receipts 6 9739 1 971a At CoaatUne It 1 '-"8 1 - 7:t I Bait A Ohio 6s 4 89 2 8678 40 87 2 87I4 1 87 B A O IS ltW 1 82lj 1 6218 30 02'4 U A O CV 4V(e 10 6.134 n 04 1 637g 28 mM 1 087 14 6-1 ft 041s . .67 ..0714 ..671a . .676? . .US . .osta .67ia ft... 6... IS... 12... 8... 1... 3... 3.. . 6.. ..04ia . .OAlii ..64 ..041a -.844 1 C M A St P fd 41 14 SSlj ChlMIIA3tP 4s 1 657g ISM 1 77 C M A StP deb 4s 4... ....5718 3 88 Chi Mil A St P C A P V !& 3 9634 Chi tsWII 9 100 3 007, 4 100 3 917g CA N Wgmla 1 93 Chi Rys 1st is 3 50 ChlRIAP fd 4s 65i3 Oft Oftij 0518 63 05' 4 ChiuoStn 4'-;s fl 70 Chile Copper 7i 2 92U CCCAStLStL 4S 04U 1 80 .841! Colo IncoltrJs .04S41 1 70 . Ifit' CMS South M BiltAO gold eel 1 7jlj 8 ocia Com Cable Is 1 68)9 BaltAOB W.I'm 1 .-.884 1 70 DomlncnBepia1 8 70j 10..s30...821a' 2 70 2 824 1"0 TOIAI) 4S pf 10. S30...8234 10 82 Japeeeselit4'(s 18 714 20 711 1 71U Japanese wns 2la 701j t 701 Japanese t 2 84 2 64)8 10 54 10 64!g 3.. 64I4 t 3.. .....648) 10 40 2 46U Beth St! fd 5a 3 777 Reth Stlfa 1M1 . 78 Bway A 7 A v cn 3 40 Ban Rap Traja 1 3713 certificates 10 A9 7... .-...041a Con CI as -vr 7 4 9634 3 907 3 97 Corn Prod ta 34 2 894a CubaCaneflcv 1 89a 3 89 1 8gia Ctirab Tel (a a..., ...so DelAH gold 7s 8 IOOI3 18 8illa DetAHodc Buff RAP 414s ! 1 8OI4 3 72fa DelAiInd fd 4s Cen Leather 5al 1 754 8 9011 Den A Rio Ots ft 98 Oen Electric 5s 0..s30...84la 1 80 Hud A Man fd is Series A 8 Sft 1 63IH Hud&Man adj 50 19 2 1919 16 19U III Central iHs 1 871g lDdlana8teel as 1 86la Intern R T fd is 19M ft 427, 8 421a 423, IS, 1. Interboro-Met, col trust 444 certlflcates 2 10 10 104 10 ioia inr si siarlneai 2 RII9 2 81&8 1 814 1 8U3 1 81 1 8iia Iowa central Is 1 39 KanuA M 3d ie 1 83 KCPtSA M4l 2 80 Kan C So fd U 8 OAls 3 OAla Kan Olty So u 1 6334 1 .1814 2 53ia 3 6314 HanCItyTer 4t 3 673, 1 67I4 1 878 1 o LSA MS 4 1924 1 7flla 1 795 LSA 618 4ft l.'J I 6 7713 ft 78 LehValcon44s 10 7Ha Liggett A M is 1 78U Leu A Rash 7a receipts 3 103 8 10I78 3 llilS, 8 1011, 12 iona Loo A Nash is 1 78 2 771, 1 773t LO11A N 8tl, ts 2 98l4 Manhat Ry 4s stamped ft, 60 MiehStatoTI It 1 8ft Mldvaie 8tl Is 1 763 8 77 Mo Pac Ie 1913 5 88 Mo Pae cm 4s 4 Ma 8 S28 1 521 3 Moot Pwr Si 1 801a 1 701 1 N Y Dock 4s 1 02 2 021a NY Can ELt II A P 4S 1 591 4 6 581, N Y N II A II 6 73 NYNBAH4SI7 8 48 N Y Tel deb ta 1 801 . NY Tel ein I', s 2 7ft 3 741, n 1 westchestr A Boston 44i 2 42 .42l4!NorfAW cv ta 42:14! x 9914 993 2 991a II 99 Norfolk A Wis 1 71 lOis North raPsell a 7414 10 741a nOtuerBvPae a 1 S3la 2 53l8 1 ft3 Nor Stotea Pwr Istfla 8er A 2 735s Or A Cal 1st 5s 1.......857, ft 8.501 OrShortLine is 1 86I4 Pad9e Oas J,i 3 741 a Pac Tel A T is ft 81 Penna 7s StL A SanFrau Series A ...VS7S ..654 . .561 . ,aaig ..5.VV 31, 2. 16. 3.. 8.. 8.. 4.. ftL A San Fran Bert os c StL A SanFrau adj Gs 61S, 01 Sugar ia necessity It readies every household 'PllEBir - l leae (Man ?; ' : M -j J andfurther reduction are proceeding 1 y -q jHHHP ngl BIO INCREASE FORECAST lit 1 'XS y, UTAH BEET SUGAR CROP LV sf ' Vf -. " "event ns r.pct.J. Jlt Co.'" jn Irdl- N ' ZA ,-f$'$ ifflljL JTOIK Tlsfe l ?i SeM Lake Oly, Utth, July 17 -Utah ill 5 H rt ' ! .. ,. ,n W'l'jMv jroduce ihn year I.J'.0(ii) lorn ol y MB M JIV y' -11 ' C, .l1' ' 1 ; nie .r Urn cump.i(l wnh I.Oit.isX) nia rok If. M EjU JB, iL f Jj 1 rjutil l.itl yeaf, sereedlasjkt lbs Julyciov "i -,r,JffiiI L Bffitl U f iy --'4 ol Agriculletf. Cessslclrd acreage ..ill I .J mmlltnV i C'4 m a ffll l! .OlllBilmfV IV -V i I '''u,r' ,vw d"" are tl?.00 are in 1 1 2fnM I ST JjasV arm I ll'llii T If aaegni VS.,- , . T!W"'1IISsli I 1 l'f'' '" Ulth, wllh an sO.lil.'il lJbO tmt ifo7 ''. tPlJ 1. 1 S I B WlUill MSt X lffsrfT t'i&7f'i l'l''l' "hnk bent wiO lie delivered lo 'an ifJSllijP,'i--L V-' V ImMWjll rJBaS .3I 1 VIUHlw IV Uiali Isnotin "Tkf fiilnir ii fir tul m jfr'TOtT I1-t-.ft' k f 'OflKSsT II ( 1 l'vfraliere h UiiV l8e bnllelin staira Not as Vftli'' yrLWPT I jTjjifjf F rir!r 'Bx3sssstu OB' 'Si' ii "p-'"6'' ' 't" 4irr ,hi lhirSaiiw'L I' rllirleWLm itrinrii'TiIi f"' !.ihrr avneeKijint control ' (,':iCljuisi-K$fi" I Pfl Mmif - - -Vt '"m Strtrw In tUeketchewenj, I. i;fe'faes -f''"'"! iPIMIiinilllii!! "I i 'iliiinh"!!""" -- 3tff JmU l mt Safety and 7 in First Mortgage Investment , Backed by the assets and earnings of a firmly established, essential industry one of the largest producers of beet sugar in the United States Utah-Idaho Sugar Company First Mortgage Serial. 7 Gold Bonds Due Annually July 1, 1921-1930, inclusive We Recommend and Offer these Bonds subject to prior sale In $1,000 and $500 amounts Price, according to maturity, to yield 7? ,' Beet sugar is an essential food product. It is used for the table, for cooking, for preserving, for the manu facture of candy, soft drinks, medicines, etc. Regard less of industrial conditions, it is assured of constant demancf. The Utah-Tdaho Sugar Company is one of the largest producers of beet sugar in the United States, owning and operating fifteen sugar factories. The Company's financial statement as of February 28, 1920, adjusted to include this financing, shows total net assets of $32,776,424, applicable to this issue of $8,000,00C principal amount of First Mortgage Bonds. These bonds are secured by a closed first mortgage on all the Company's properties (except certain farm lands) subject only to a purchase money mortgage of $600,000, due 1921,-1923, on one of its 15 active factories. The mortgage contains a very strong covenant by which the Company agrees to maintain current assets at all times equal to at least 100 of all liabilities, including these bonds outstanding. Net profits for four years ended February 28, 1920, averaged $3,123,943. The maximum annual interest charge on these bonds amounts to $560,000. The annual retirement of substantial amounts of this issue through the serial maturities will steadily reduce the interest charges as well as constantly in crease the proportion of equity in the property over and above the First Mortgage Bonds. These bonds are followed by $237ij0,000 par value of capital stock, all of one class, upon which dividends are being paid at the rate of 8 annually. Dividends have been paid ever since the organization of the company at rates never lower than 6 per annum. TTHte er telephone for our itprcial dcscrpfiiv circular .V. D. 4 which sett forth In defail ffte many attractive feature of this issue. HALSEY, STUART & CO. Incorporated Successor to N. W. Halsey & Co.. Chicago 49 WALL STREET, NEW YORK Telephone Hanover 8000 CHICAGO PHILADELPHIA - BOSTON DETROIT ST.LOUIS MINNEAPOLIS MILWAUKEE The aborr statements are oflici.nl, or ate based on information which we retard as reliable, and, whale we do not guarantee them, the? are tbe data upon which we have acted in the purchase oi tbest: bunds. BID AND ASKED QUOTATIONS M. T. STOCK EXf HANCR ol'OTATIONS ! UNITED STATES GOVERNMENT BONDS. I A . i.t'Mi 1 1 (,.r. ahenlil ha .1 .1 .. ,1 t that StL A.San Fran ! "OWIn price Im- as 8 27 2 3.. . . 32 32 7 4 2 2 10 10.. N 1... 12... 2.. . It. 81... 3... 10... 13.- 3.. ft.. 1 lrrjt, 1025, 1W1, 10?ng 103 14 1023 . . . 1021a ...102 . . . 1021, . ..1025, ...1021, . ..1029, ...102S, li)!5a Penna ta IM 4.. 7.. 4.. 10.. 2 .841, . ..H414 ...8418 ...84 ...S33 . . Penn rm 4Ms A 25 747, 10 76 Penna 414s 1921 ft 967, Penna 4Ha i0 1 SO Penna 4s lei 1 70 1 89I4 PocaConOol Sa 1 SOU Beadins cm is 18 70 RIArkALa4 1 031, ft. s$0 ..8231 6 83)4 StlJiIranM 4s 8 80 StL A Iron Ml Klv A Gulf 4s 1 .831, StLA8Pernj t 92 4R.1, .4X1, .41, .4X1, 4WV 48W 4M, .4hl, j .486,1 .481, I .4861 .48'., 011. oh con 4s .8 66I4 Seabd A L adj .7 335i Seabd A L frl 4s 1 403j Seabd AL 4a stamrxvl 3 Si f4oBeIlTATel8s 1 801, South Pae cv Js 20 tu 2. . lft.. 2. SoutbPac cv ts 10 743, 74 6 71, 74 Ij 74 Couth Pac fd is 1 78l4 11 73 .3 78I2 SoPaeSPterle . 1 Oftl, Southern Ry s 1 811, 3 82 10 S2I, south Krirral. 89 registered coupon 4s, registered 4s, coupon a '-, Panamn, ID.Til, resistercd. . . 98, Panama, in.'Mt, coupon ts, Panama, lft.18. registered 2s, Panama, 1938, coupon , Panama, registered 8s, Panama, coupon 1'iilllpplne Jsl. land pur. 4s. 1034. Phil. 1st. pah. works 4s, In:;.". . . Phil. Isl. pun. works 4s. 1030... Lilxlrjct o( Columbia 3.uTs FORE KIN UONDS. Anglo-French Extern. Ms. 102O. ... Argentine Intern, fts, 1045 Kingdom of Belgium 8s, 1921. , . . Kingdom of Iklglum Its, 102S Kingdom of Delgiuin 7Vis. lOlft Canada, Dominion of, 5a, 19:11. 1 nnada, Dominion of, notea 1021. Canada, Dominion of, 1928 Canada, Dominion of. 1029 Canada, Dominion of, 1031 Chinese Gov., Hu Kug Ity. 3a, '51 Cuba Extern. Hs, 1044 OVlel Cuba Extern. 5s. aeries A, 1049., 94Iq ! Cuba Extern. 4V, 1949 04SQ : Dominion Keu. .".s. 103N . .Oil-, I City of Lyons 1.1 yr. 6s, 1934 . .7 1 ('!., n M ..... iM. . 1-. up It Kl'1.1 ! City of Bordeaux IS yr. 0s.'l934.. (ity of Copenhagen 23 yr. 54e, '44 74 French, Paris City Us, 1921 POAi Oor. of Switzerland Ss, 1940 10214 ! Jnpenese Gov. 4s, stor. In.. 1925 71'i Japanese Gov. 4',4s, 2d ser., 1923 7U"4 i Japanese Gov. 4s, ster. in., 193L. f4 ' Japanese Tokyo City Ss, 1932 81V, U. K., 0. 11. ft I. 5 yr. 4s. 19S1 90V4 ' V. K., O, 11. A I. t yr. 3Hs, 1022 89'i I U. K., O. B. L M yr. 5t,s, 1020 tS j IT. It. O. B. A I. 20 yr. 6!4a. 1937 81 Mexico Extern, ster. 5s of '90, '43 34 Mexico Extern, gold 4a of !. '54 28 Kingdom of Italy 5 yr. gold . . 1:1.1. Asked. 100 10' 100 10.1 10.-. 100 l(l:!. 100 100 77 7.1 80 OOVi OS'i ! 01 07 .. 08 07', 88 14 00 84'., 42 87 80 Hi'i 83 83 102 100 108 101 101 101 101 NO. SO 8.1 8.1 83 09, 80 08 01 07 08 07 N) 01 85 42 87 81 72 82 83 83 83 75 01 102 72 71 54 04 00 90 83 82 38 20 03 Closing prices of stocks In which there flo,ithRy8tL 4,! wcr9 1,0 ,r?, rT yestercay OA , .... . C- Is UnPac 10-yr ts 1 OS t'nlon Pacific is 17 80 InlonPaccv u 10 80 3 8OI4 PnltedRylnrij 1 Oft PS Rubber 7ts 8 OS 3 977, A 978, M 371, 1 973t C 8 Rubber 7a 3 973t U 8 Rubber ts 8 773 . ,. n aeiwss i -1. Alaska G. 1 Alaska Jn M A1 Am C.103 A1CM pf. 70 AmACh pf S.1 Alb ft Sus.120 Anil 8 1st 0H Am n Ml 43 do pf... 10 Am BS pf 7.1 Am Bk 8h 53 do pf... 80 Am OF pf.inti Am Coal. . 53 i AmCotO p 01 I Am lee pf 55 Am Lin pf 83 SSSJ 30 107 70 11.1 140 48 4.1 82 85 88 100 iii in 3... , 7... , 1 2 I..., a... . 8 3 11 .7714 .7(17, .77 .78 .7fll4 78lg .7(11, Tl., V 8 Steel sf u 2 u3 1..S30.. 91 916, 8... 01.1. Utah Power lie 1 711. Virginian Rrtt 3 771, WestornElec Sa 1 04 West Md 4 10 521, ft2 7 12I4 WeetPaelOe 1st 7914 1 78 WestCnlon tu, 1 74 Wilson A Co cv 10 83 Wis Central 4a e. ooi3 AmLoen pf 09 1(S1 Aln MftO . . f 31 A Shlnblr AmSfcc A 70 ARtPdT pf 83 Am Bnuff 07 Io pf... 7S Am Sue p.107 Arium T p 77 Am Tob p 85 AmTKC... 48 Am Whl p 90 Am Zinc. 11 lie pf... 48 Ann Arbor IS do pf... 20 A Drv C.ds 30 do 1 pf.. 57 do 2 pf.. 55 . Assets II. 2 Asstd Oil. 31 AtBlr AAA At Cat I. 84 AGftWI p 01 At Rtfln..U20 do pf...lOA Ana Nlch. 19 do pf... 78 Auto Sale, 4 do pf... S Dai-net L. 50 do pf... 85 BarnsdallB 35 Barrett pf.100 Patopllas.. s, Beech Crk 25 110 72 8(1 102 87 34 88 rtt 03 G 4ft 20 .if 81 85 no 80 82 1150 20 82 10 23 80 00 .38 108 Did. Beth HU. 711 do 00 do 8'.a..l05 Bkn Edls. 85 Ukn R T 9 do et... 8 Bkn 17 fl. 48 Brown Sh. 75 do pf . . . 92 Brunswick 3 HufBusAW 87 Buff RP. 58 do pf... 80 Burns Bra 80 do pf... 08'i Lush Trm . . Butteiick. . . But ft Sup IS Cal Pck p 80' i Cal Pet pf mi Cal ft Art, 53 Can Sou.. 31 case pf . . 91 'i Case Plow S sdo pf Cen Lth p 13 CtntofNJ 2in Oett Prd. 45 do lt . . . . Cbes ft O. 55 ChAAIton. do pf. Clilc El ct do ct p. 7 Chi ft NW 08 COtW pf. 21 OhPneu Tl 79 CStPtO... 5fl do pf... 80 CCCftStL. 52 do pf... 80 Clev ft Pit 37 Cluett Pby 73 do pf... 00 Col F ft I 31 Col South 24 do 1 pf.. 48 do 2 pf. . 33 Con C!f P 78 Con Can.. 78 do nf. . . 08V Con Inaur 87 Con Cnndr 104 Crrx Csrp 53 Cni Stl pf f4 714 1 ' 7'-'. Ask. 73 03 107 04 0 8 50 83 1. 70. 83 111(1 07 its 83 If 10 80 (18 UOV, 50 02 II 0.1 07 2-.0 54 85 50 13 0 9 89 22 80 83 03 r.i OA 82 73 100 32 2A 49 45 81 78 MR 80 II 58 01 f4tt 02 03 03 4 Hid. Imvl ion C 32 (sj Beers. 27 Deere if. 00 Det Edls. 02 let ft Mek 03 Det United 00 Dlrimd M.10O DAI SPtA M do rf... 7 Durham H 43 do pf... 92V, Elk Mm V i! lo pf... 32 Elec Slor.112 Enter flrn 15 1I0 pf. . . 70 EndlfJ p. . 02 Erin 2 pf 13 Fed MS 9 de pf... 34 Fairbanks 48 Fisher By. Ion do pf...l(10 Oen Chem.lrt.3 do pf. .. 01 Gen Clg pf 00 Oen Mot.. 21 do pf . . . 71 do 7.. 70 Goodrich p 84 Granny .. 83 Gray ft D 20 Gulf fl lp .. Hartman. 73 Harv pf..103 Homestake 45 Hupp Mot 13 Indfiihnma n int Agr pr lilt JIT lp do 2 p Int Mek p lot Cap p lot F.nlt. . . Iowa Cen. Iron Ptdts 40 JewA T pf 24 .lenes Tea 20 Kayser ...03 Kcl 8 T p 83 do !.. 00 Kol Wheel 32 do pf... 82 Keo DcM 4 do pf... 20 Kres 8H p 90 Kress 8 II 80 do rf...ioo Lac Gas. . 35 LakeKAW 10 do Pf... 18 Lee Tiro.. 21 Ihlgh V 43 Liu ft if. 12ft do H....120 do t,f. .. 98 Irfift 12 Iirld pr.. 04 Loose-TVIs 41 do 1 pf.. 91 do 2 pf..!04 Lou ft N. 00 Malllson . 15 do pf... at Manhat... 10 Man Bch. Martin ft 20 Man Shirt 21 Mackny... 00 do pf... 80 Manatl Hu .. do pf... 31 Marlln U. 35 Math Alk. :W M D fl pf 07 Maxw 2 pf A Mex Pet p 92 Ml-h Cen. IS .M.tflL nw 12 MI'flBM... 71 do pf... 80 MHSMl.L. 51 MKftT p.. 10 Mur ft Esx 58 Mcnt Tow 81 do pf... 98 MulllneB p 03 NhChfttn. 100 Nat Anl p 85 Nat Bls..ine do pf...l0S NatClkftB 42 do pf... 88 NntFftS p S8 Nat Lit pf.10? NatR.M lp 8 do 2 p. . I' a N Lack W 78 N T Dork 21 do pf. .. 40 ' Ask. 33 M 08 OA 03 113 5 10 47 07 22 38'i 118 20 71 05 14 12 35 103 109 1U0 05 05 21 "8 80 85'i 37 20 02 78 107 50 34 ft 80 77 8.1 83 103 k 41 30 21 OS 84 80 80 4 30 07 117 112 38 11 22 45 140 130 lonu 12 00 50 OA 105 ion 20 70 43 01 00 lOO 00 58 JO 04 83 13' V 72 8A 5(1 II 85 04 07 110 87 112 43 00 93 int 14 A 85 21 50 Bid. NlattPP p. .. NVCtSI.. 30 do 1 pff. 53 do 2 pf . . 50 Nor Hou.. 18 Nor A W 00 do pf... 04 ObBdyftBl .. Ohio Fuel 49 Ont 8llver 5 Otis Ele.,120 do pf... 78 Owns B pf 00 Pao Coast 23 do 1 pf . . 00 do 2 pf . . 45 Pac Dev.. 33 Pac GE. 4.1 Pac TAT. 40 do pf... 88 Pac Mall. .. ParlshAB . . I"enney pf. 88 Peoria ft E 10 Pero M pf . do p p. . 55 Pet -Mil .. 31 do pf . . . 03 Phillip J. 50 do pf... 81 tierce 18S Pierce O p 80 POOftStL. 70 Pitta CI pf S3 ItsFWO PH3 Pts Stl p. 83 pftWVa p ft Pr 8t C P OA Pub flerv . . . PternBrs p 00 Stiidh pf.-. .. Sup Pteel. 49 do pf... OA Tcntor A.. 41 do IT.... 43 Texas LT.M0 Third Ave 9 Tide W O.170 TSq Auto. 25 Tob Pd pf 80 TfltLftW... 0 do pf... 1A do c 10 do pc. ..II Tren ft W 41 Twin rlty 30 do pf... A" Undcrwd 15A do pf... 05 Vn Tig ft P 83 Un Cc Sts.120 do pf... 03 : Vn Allov. 38 Vn Drg 2p 95 DB Dyd p 50 V S Rxpr. 7'4 Cn R Inv. 7 Band 2AU By-stSn p. os Rht Rets. 10 25 National Oil Company (of New Jereey) Owns end operates CARGO VESSELS OIL TANKERS OIL BARGES in addition to Extensive oil land holdings in the United States and Mexico. The new developments and possibilities of this remarkable company are described in a circular which will be sent on request. William W. Cohen & Co. Members N. Y. Stock Exchange N. Y. Cotton Exchange Chicago Board of Trade 67 Exchange Place New York City 40 40 13 do nf . RepS pf e Bead 1 pf. do 2 pf. rtemetn. . . 41o 1 pf . . Io 2 pf . . flsvarc A Seed A I, B fl-Rhk pf..im Mln".- pr -, ALftSF nf. 30 flbattuek. . . 8 APrtoSu P.IOI Ko Ry nf. 58 fttnd Mill . . do Pf... 75 I'KriPloe. 13 do pf... 41 T'SJnAlc n (W) VSR 1 rf.103 Pino Per. 7 TWmelt p 42 VnOnr C. 03 do pf...104 Va-TCftC 10? Wab pf B 14 Welts Far :s West M ?p 12 Whi. T, F!. 10 Whl L E p 18 Wilson nf . 70 wn ovd p e Wis On.. "I Woolwrth 101 do If... 10. Wnthgtn P 58 do p A . . do p T4. . 81 100 18 81 03 41 43 lft 9A 04 42 1 I 112 sH 33 0 108 00 150 8.3 IS 42 03 10A S 01 IftA 110 18 AO It 10 17 00 82 "it 107 110 w Stone & Webster 147 Milk Street BOSTON INCORPORATED 120 Broadway NEW YORK 31 So. Dearborn St. CHICAGO EXAMINATIONS AND STUDIES c Induttrial and Public Service Properties REPORTS on Valuation and Operating ERciencj liermnn Dank Statement. Beolin, Aug-. 19. The statement of the Imperial Hank of Germany for the period ended August 7 shows the following- changr-B: Total coin and bullion It creased 238,000 merks ; gold Increased 3.000 marks; Treasury notes decreased 22.1,821,000 marks: notes of other banks Increased 143,000 mrles; bills discounted decreased 3,86,O.9.:j2,000 marks; advances Increased 6,774,000 mrk ; Investments decreased 2.141,000 marks; other securi ties decreased 32,787,000 marks ; note In circulation Increased 291.80S.O00 narks ; deposits decreased 4,305,991,000 marks; other liabilities decreased 91, 203,000 marks : total gold holdings, 1,001,595.000 marks. Londori Money Market. Ixinoon, Aug. 19. Bar sliver, Sid. ounce; bar gold, 114 7s.; money, 5 cent. Discount rates Short bills, per cent. : three month, bills. 8 cent.; gold premiums at Lisbon, 140. Steel and Tube Rarnlnare. The Stec! and Tube Company of Amer lun report) for seven months ended on July 31 net Income, after federal taxes end charges, but before depreciation, of tc, 202.542, or (5.74 a share earned on its common stock after deduction of Its preferred dividends. Its jrrnss earnings for the soven months, after Federal Lixes, wan 7, 272.756 and Interest chargee, $980,213. Preferred dividend of the company amounted to $714,584, making Its surplus for the period $6,577.. 958. civ Orleans Cottoa Market. New Oslevhs, Aug-. 19. Selling per sisted in cotton to-day, forcing prices to the lowest levels recorded In about a an year. Prices were S7 to J7 points under per H per yesterday's close. Close: October, 7.14; December, 2S.33 ; January, 25.92; March, 25.80; May, 25.28 : spot, (tulet, 75 points lower; middling, JI.JO. .