The Sun and the New York herald. [volume], September 11, 1920, Page 12, Image 12

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

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THE SUN AND jNEW YORK HERALD, SATURDAY, SEPTEMBER 11, 1920,
Phone Rector 8000
'j
i
120 DroaJwy, New York.
Jfmrr
Krw VorJi SlocU Rxthangt.
New
French
Loan
Private Wires to
Principal Cities
FINANCIAL NEWS
AND COMMENT
Contraction in Stock Market
Continued With Goncrnl
List Still Firm,
MEXICAN ISSUES STIIONO
WE RECOMMEND
French
Government
25 Year 8 Bonds
Due September 15, 1915. .
Principal & Interest
Payable In U. S, Gold.
A linking fund of $4,400,000
will be applied annually to the
purchase of these bonds up to
110 for five yean, and there
after to the redemption of the
bonds by lot,
Price at market about 101
& Int. to yield nearly 8.
eiiKTMie I'i'ON itnoixsT
M'CIure, Jones & Reed ,
Member! New York Stock KgrlUnge
115 Broadway New York
Telephone Rector 7062
French Republic
8 External Gold Bonds
duo 1945
llnight, Sold it Quoted
KIELY & CO.
40 Wall Stroct Now York
Phone: John 6330
Only Spoclal Tamos Show
ProffroRH Money Is Com
paratively Ensy
Central bugar
Chevrolet Motor
National City Bank Rights
McCLURE, JONES &REED
Mtmbn .Vets York itok l'.ichann
113. Ilroniliiar I'hone 3371 Hector
MONTGOMERY & CO.
.flontfi n. tVotcr NiTVcrtrw) Stocki
Philadelphia - New Yotk. Clncaqo
Suggestions for Investors
may be had on request
A. B. Leach & Co., Inc.
Imr.lnirnt Srrurltlc
62 Cedar St., Now York
Chicago Philadelphia iluiton DufUla
Cleveland lialtlmoro Minneapolis
THB
PHILADELPHIA
NATIONAL
BANK '
COTTON MARKET.
The stock market continued It process
cf contraction yesterday, with the sen
era) list o( securities getting baok ap
proximately In the trading position from
which It was dislodged by last week's
rally, The Mexican oils and the cop
pers still rose Jn a continuation of the
idvnnclng movement, which began In
the lust hour of Thursday's session, but
the movement In other directions petered
out early In the day, so that at tho close
the nverngos actually showed a small
net decline on the day, Tho genurnl
market, however, was still remarkably
firm In all directions, even though not
a, trrent deal of progress was recorded
except In spoclal stocks, anil the strength
of the Mexican Issues, moreover, gave
tho hears n rather unpleasant hour or no
tn the afternoon. Hut there were, on
Ihn other hsnd, soma encouraging signs
for the hear contingent on the other side
of the market! for Instance, tho onso In
which stock nold off whenever there
happened to be selling pressure,
There wan In truth hardly enough In
terest In the dealings to give whatever
trend thero was much significance, The
continued ease In money In the faeo of
the approaching tax payments probably
was the principal Incentive to whatever
Mrcngth there happened to be In special
directions, and there was encouragement
also In the reports of slightly freer
offerings of time money at recessions
trnm recently quoted rnten Offsetting
this, however, was the expectation that
to-day's hank statement would make a
very poor showing, It Is understood, for
Instance, that thero will be a further
sharp decline In the reserve ratio of the
local Reserve Hank, nnd Hint in nil proo
ability the comblnod statement Issued
In Washington also will reflect further
movement of funds for crop purposes,
Hut It was to be said In favor of the
murket that If thero was any apparent
uneasiness over this It was manifested
only In in far nti the volume of business
was concerned, which was the smallest
since the rally began In the middle part
or August.
The principal Incentive In back of the
movement of the Mexican oils, as In tho
case of Thursday' trading, was the
purchase of the additional oil lands by
the .Mexican petroleum company nnu
the further knowledge that no new
financing would bo required to mako
that purchase. The strength In tho
Mexican nils naturnlly helped other oil
shares, but no great progress was re
corded elsewhere, Tho copper stocks
came to tho front In the Inst hour, fot
lowing the declaration of tho regular
dividends on the porphyrylcs' shares, but
the strength hero ns well its In other
stocks did not Inst long, In other dl'
rectlons there was very little of Interest
Tho steel shares were Inclined to do
better during the iflrst half of tho day,
but they quieted down following the
publication of the monthly tonnage fig
ures of tho Steel Corporation, which
showed a fulling off of mora than 300,000
tons ftom that of tho lust preceding
month. Thero was nothing particularly
surprising In this, as It hud been fore
cast by tho weekly trade publications.
Tho money market was compara
tively easy. The renewal rato waa 7
per cent, but now loans were made later
on In tho day for an low as 0 per cent, n
circumstance which was rather encour
aging In view of tho fact that tho tax
pnymcnts are only a matter of a few
days off. Although money was easier
tho Street Is prepared for somewhat of
n shock to-day In tho bank statement.
It Is declared In authoritative quarters
that that statement will be tho worst
of tho year; thnt Is, that tho reecrvo
ratio of tho local bnnk will be consid
erably under S8. The Improvement of a
fraction last week was due to redls
counting with other reserve banks, und
It Is declared that If tho local bank re
duces thoso rediscount the state
ment will he very poor Indeed. It Is
further anticipated that there will he
another drop In the combined statement
from Washington, but this will not bo
ns sharp as In tho case of the local
statement It Is declared on good author
ity. MONEY AND EXCHANGE.
$20,400,000 Q OLD FOR N, Y,
Frcluhfrr llriiiifN In lt,BOO,OdO for
llrlllslt Account,
Gold In eight now consigned to New
York aggregates lUMW.otjO, Of that
rum ti,fi00,000 gold .arrived yesterday
on the freighter rorto Augusta, cote
signed In J. P. Morgan A Co. It was
deposited In the federal Ileserve Hank
and (lie account of the Ilrltlelt Oovrn
ment with the Morgan firm was credited
with the proceeds, Tho steamer Ia
Lorraine, scheduled to arrive on Tuci
day, carries morn than 14,000,000 gold
for tho account of the French Clovem'
ment.
Cables received yesterday from Paris
In official circles contained tho Informa
tion that the French Government would
forward 110,000,000 In gold by tin
rleamer Lafayette, sailing tn-day, and
another 1 8,000,000 on tho steamer Ia
Touralne, sailing on September 14, In
addition It Was announced that Kuhn,
Ixieh & Co, would receive IJ.000,000 of
Transvaal gold on the steamer Aqul
'.anla, which leaves IJngland to-day.
Tlint shipment will mako the total
amount of Houth African gold secured
in tne open market In London nnd foi
warded to Kuhn, Loeb a Co, approxi
mate 134,000,000,
SAW FRENCH HARVESTS,
A, 11.
of
Tho cotton market was fcaturod yes
terday hy vigorous buying of Its Octo
ber option nnd u rlno of more than S a
bale In that month, which naturally In
. fluenced tho rest of the list. Although
tho nearest option mado Its bcBt levol
of tho day beforo tho last hour, other
months watted until near the close be
fore reaching tholr highest levels. The
general range of tho upward movement
was from 7 to 135 points. Tho market
was not higher during all of the day.
In tho forenoon tho list sold oft to a
level of 03 to 70 points under Thurs
day's closing prices on reports of clear
ing weather conditions tn the Southwest
nnd lower than duo Liverpool cables.
Declines In tho foreign exchange mar
ket also affected local sentiment.
COTTON STATISTICS.
Yester- Laat
day. Week.
1'ort receipts 0,070 13.728
Import RM 0,78
Kxport" season. ...210,932 163,516
New lork slocks. 1:8,311 2N.MU
Fort stock 7.17,273 719,481
Interior receipts... 13,230 10,877
Interior shipments. 10,732 8,672
New York arrivals 22
Liverpool cables: BdoI cotton dull, it 20
point) riecllno; middling, 21,03) salos, 4,000
l.ales, Including 3,000 American; receipts,
0,000, Including 8,000 American. Futures
opened easy, at 2D to 42 points net decllno,
uml tinted quiet, 34 to D7 points loner. Oc
tober closed 18.37i December, 19.78! January,
18.40; March, 1S.U1; May, 17.87. Manchester:
Yarn dull; clcths In buyers' favor,
ltottgu of prlcca; Thurs
Open. High. Low. Close, day.
September.. 2.1.8ft 2S.S8 2B.M 0.88 11 28.83
October 27,73 20.00 27.72 21). 38-40 28.23
November 20.63 20.73
hecml'i'r. . 23.75 28.70 23.00 20.83-TO 20.1ft
January... 21.85 23.40 21.30 23.3-V40 23.071
February 24,98 N 24.80
JIRITU ZI.UU 24.70 S.1.80 Z4.GH-09 24,48
April 24.20 N 24.13
May 23.50 .21.12 23.30 24.03-10 21.03
June- ' 23.00 N 24.00
July 23.13 23.G3 22.1)3 23.C0-03 23.03
Spots: Local, 32.2.1: New Orleans, 29.23.
SUBSCRIPTION RIGHTS.
day.
33.R0N
3.51U
3.40U
3.41K
Le.lt
Year.
10.138
8,7381
600,401
(0,477
BOa.IOTl
11,113
10,083
2,318
CALL MONET.
Ilteh TILaat 8
I Jiw. nileiifwuls 7
Yeai's high MIYear's low 8
CLEANING 11017813 STATEMENT.
Clearlnr. hone exchanges, 1601,721,003;
hslsneei, ltil.52fi.077: Hub-Treasury debit
lalances. I'M.RJd: Federal lleeerve credit
balancer, 174,011,033.
HlLVEIt MARKETS.
Official bar "liver In New York-Domestic
tWHc. per ounce, uirhanged; foreign, onto.,
t lf Uc: London. MM,, up Mi.; Mexican dol
lars, 7lHc., tip
CANADIAN EXCHANGE.
New York funds tn Montreal, (110 pre
mium per ll.OOO; Montreal funda In New
York, 99.10 pet 11,000.
OrtElUN EXCHANCIB.
ortKAT nrtiTAiN.
Thura.
14,8003 Demand, sterling
Cables, sterling..
Hankers. 00 days
UankiTs, 00 days
TUB CONTINENT.
19.30 France, cents a rrnno
Demand 8.A7V4
Cablei- O.celi
19.30 Deltlutn, cents a franc
Demand 7.14
Cables 7.13
19.30 Switzerland, cents n franc-
Demand
Cables
19.30 Italy, cents a lira
remind
Carlea
3.80 (lermany. cents a mark-
Demand 1.83
Cable 1.80
28.80 Sweden, cents a krone
Demand 20.30
Cables 20.40
28.80 Norway, cents a krone
Demand 14.20
Cables 14.23
20.80 Denmark, rents a krone
Demand 14.15
Cables 14.20
19,30 Greece, cents a drachma
Demand 10,7.1
Cstle 10.83
19.30 Spain, cents a peseta
Demand 14.08
Cables 14.72
40.20 Holland, cents a florin
Drmond 31..17W
Cables 81.50
20.3 Austria, cents a crown
Demand 43
Cables 44
10.37
10.40
4.34
4.33
W'nes
day. $3,517,
3.52H
3.4774
3.4574
0.74
0.73
7,14
7.13
10.37
10.40
4.38
4.37
1.88
1.89
20.30"
20.40
14.23
14.30
74.20
14,25
10.80
10.90
14.71
14.73
.11.374
31.50
Mnrllnir Prnlars llnervy
People of I'rnnce,
Alfred II Marling, formerly nresldent
of the Chamber of Commerce of the
State of Now York, who linn Just re
tvrned from a trip to Rurope, said that
the most nstoundlnrf observation that
confronts every visitor to the Continent
"Is the thrift, energy and Indefatigable
courngo of the Kreneh people,"
-mo Trench people," began Mr. Mnr
lf.tr. "hnvo tholr faces forward, tint baric.
ward. They nre already harvesting'
uheitt from the battlefields, nnd the
crops this year ought to measnro up
rretty well with thoso of the prewar
t'ays, The French men uml women lire
worklnu In tho fields everywhere al
though worlc Is also being done on the
restoration of b'uildlngs. A few weeks
rtgo they started to pick coal from ono
o tho mines near Lens that had been
flooded by the Oermnns."
The American remetory at nomange,
whero 22,000 soldiers nre burled, Mr.
Marling asserted, Is one of tho most
beautiful gnrden spots of the world nnd
he could not understand why anyone
would object to their dead being there,
There Is a Y, W. C. A. hostess house nt
that placo and In It their relatives nre
taken care of.
TRADE BUYING IS NOT
GREATLY IMPROVED
Prict Question h SHU Control
linn Factor,
Although a better sentiment In busl
ness generally has made Its appearance
In the last week or two, there lias been
no substantial Improvement In buying,
According to the weekly trade reviews.
The sentiment Is based, It Is said, rather
on expectations of reviving activity than
on actual Increase In huslne'ss, Tho
price question is still characterised as
the Rontrolllnir factor In business And
further downward revision Is declared
to be essential to future progress,
"The Improved sentiment noted In some
nunrtr Inst week,'' says Jim's (et'leio,
"has continued In evidence, but It Is
based more on expectstlons of reviving
nctlvlty limn on any aatuitl Increase In
business, Home seasonal broadening of
demands, however, would not be surpris
ing, .especially after a per od of con
spicuous tidiness In various linos, and
tho official September forecast of abun
dant grain harvests Is obviously a con
structive development,
"W In Inn virtual assurance nt arge
crops this year, reason for confldenco is
not lacking, nnd trade advices from the
agricultural roglons are of a more cheer
ful tenor than those from strictly man-
ufanturlng sections, If general farming
results alone were to govern tho course
of business the nut look would leave
little to be drslrxdi but the price ques
tion clearly remains the controlling cle
ment In the situation, And further down
ward revision of some markets In essen
tial tn future progress, Herognltlon of
this fact Is tielng forced upon some
sellers who have been slow to appreciate
tho Importance of the reversal of pur
chasing policy, nnd there Is now less
disposition fnllnwlnrr many consecutive
weeks of yielding of wholesale quota
tions to doubt the genuineness of the
price deflation.
"where tho reductions have goni rnr
enough to lower prices substantially
some early Improvement In business Is
looked for,' but tho attitude of most
buyers In primary channels Is still ono
of waiting nnd of limiting commitments
to prcsont requirements. Tho hesitation
In forward contracting, however much
It may be attributed to monetary end
transportation drawbacks, Is chiefly ex
plained by the belief among many In-,
terests that the process of price readjust
ment has not yet been completed nnd
that the doerrlng of important engage
ments will not worlc to their disadvant
age, Tint nticn a piiase was nnauy de
veloped In the Iron nnd steel Industry,
where pressure for supples has bean
parncuiariy urgent, is nigniy signmo
ant." frndifrset'i ssysi "Two divergent In
fluences, price uncertainty and the ad
vance of the fell season, nre visible In
the trails and Industrial sltuallon, re
suiting In a curious crot's current effect
upon observers' conclusions, but nn bal
ance It may be said that little more
optimism Is displayed ah tn the utuin
nnd the volume of trading Is larger, He
ports from manufacturing districts, ton
are slightly better, drhplte some quiet
ing down In new buying In lines suc't
ns Iron and nteel, hitherto displaying
activity, Tho tone of collectlwis, too
shows a slight Improvement, and crop
reports are heller, though the lateness
SL . i,wo Mk c.rnn'' wUo maturity Is
.ft!?, i' corn "n'' w,,"" rentiers It nh.
m uttdy necessary that a late, warm
n on ,m. h?tl lf Wont favorable
prospects aro to he realised,
"The very generally downward trend
of prices last month nnd thn character
of the commodities nffeoted hss, If any.
with which buyers face new buylnir, but.
on the o her hand, the necessity of
some decisions being made, now that
Bep ember Is. well advanced, hns evi
dently caused purchasers to take ao
count of needs for cooler weather. Tho
net result Is a very conservative feollng
domlnntliu nearly nil purchases, and
hu else of the orders also hears witness
to the fast thnt buyers do not care to
4,0 n deeply, Tho phrase hand to
mouth, In fact, seems to have n morn
lilting application to describe buying
than It hns fur many years past,"
CLOSES A BOSTON BANK,
Commissioner Tnkrs Over Prnden
lln! Trust Cnmpnur.
HOSTON,, Sunt. 10. The Prmlentlnl
Trust Company, an Institution capital-
.niA"Lfivvuv'' nn" 'ving more than
1,1,000,000 In itonnsltil In It linnlilntf an.r
savings departments, was closed to-day
by Hank Commissioner Joseph C, Allen.
Withdrawals, whlrh had reduced IIh de
posits by 1 1,200,000 In ten months, and
loans, considered bad mid slow, were
said by the Commissioner to havo made
his action necessary.
John H. Mc.Vaniee, president of the
bank, said that ho expected that It would
be able tn pay Its depositors In full.
no wouni make no stntement regnrdlng
the dllllcultles of tho Institution, and
the Hmik Commissioner snld thnt foe
the present he'dld not wish to discuss
tun reason for tho withdrawals which
reduced the Prudential's deposits one
third, The Commissioner snld that there
was no connection between thn Pruden
tial's troubles and the affairs of nnv
other Institution,
UNFILLED STEEL
' ORDERS DECREASE
Corporation Reports Drop of
313,430 Tona in August,
The monthly report of the 1'nlted
States Steel Corporation's unfilled orders
on hand nt the close of August, mmln
pub'llo yesterday, showed An ngKregMn
tonnage of that character of 10,805,031
tons, u decrease ,nf 313,430 tons from
the showing for July. Inasmuch ns
August Is normally about the dullest
month of tho year In the steel Industry,
(ho decline was not considered surprlMliig
In steel and flmmclnl circles, In addi
tion, It was pointed ut, the Improve
ment In the railroad situation enabled
the corporation to ship Its products much
faster than In preceding months und
resulted In better operation of the plants
and n consequent cutting down of un
filled orders,
ICven with the decline shown In yes.
terday's report the unfilled tonnagn Is
still within a little more than 1,000,000
tons of the high record of 13,HJ,0sl, es
tnhlUhed In April, 1017, It Is more than
0,00,000 tons mora than tho low point ,
reached In May of last year, when only
4.382.110 tmia were retiorted. The fol
lowing tnble shows the unfilled orders
reported monthly by the corporation
since Jtinury, milt
. i a mm tins.
Jsntiary ivAI 0,d8t,W WW
Feliruaiy..... u.mb.hbi o,uiu,ini
Merelii, ,. ii.sns.nm n,4:i,or.
'"'.tin n'.nrn'.M
mm susms
July. 11.1in,4i)n n,nin,mii n,nf,,,,m.,
Auil . . . . . . . . 0 Mrt OJH 0 10ft 103 8,750,012
HeotenlVer . M!M !!!!!! SS5
October S'lIS'SS! W
Ncieniner. i i'Ml'SS,, ?.'Tm
December s,8fl,3rtl 7.rTV,1M
The nroductlon of steel ingots for
August wns tho largest of any month so
far this year, the report of tho thirty
companies muklng about 86 per cent, of
the total production oi iusv ycur pnun,
according to the American iron and
Steel Institute, The total output ror
the month was 3,000,432 gross tons,
against 2,802,1118 tons In July and 2,080,-
090 tons In June, tno nosi jiruviuiin
ntonth of 1920. Of the totni August
production, 2,259,015 tons was open
hearth steel, 093,003 tons Hessemer steel
and r.,7St tons all other grades.
Purls Ilonrar TrndlnK,
I'AitiH, Hept. 10, Hrlces wcro very
Irregular on the Ilourso to-day. Thrvt
rer cent, rentes, 65 francs 10 centlmoi,
JSxchnngo on London, G2 francs 43 cen
times, live iter cent, loan, 80 francs 80
centimes. Tho dollar, 14 francs i!'j
centimes.
NEW YORK STOCK EXCHANGE QUOTATIONS.
FRIDAY, HKl'THMHKR 10, 120.
Day's salos
cloning-.-
Did.
35
1VI
'
33
82
81
75
34 "i
91
25 1$
i
131
124
71
38
58
70 4
10 1
S!8
13
w;
01
36
B5U
111
84
49
98
123
my.
an
81W
12
54 5
3
83 ti
76l
18 I
136
no "4
105't
41
50 Vi
no
135
ti
5tf
76
10H
120
52'.
43
53
83
00
3H
8
26 V.
UK
64 s;
74
82
80S
no
77
63
Sl
72
Auk,
30S
1"
1
34 V
84''
82
78
2?
dIv;
In I.I
91
54
20.28 Cxecho-Slovakla, cents, a krone
.43
.44
Ttlchta
Kxplre.
National City Hank. Oct. 1
New Jersey Zlnc....Nov.13
Thura
Yesterday's day's
DM. Aek. 1)1,1.
I)'! !.1 po
10 11 10
Demand 1.82
Cables 1.07
FAH HAST.
103.32 Shanghai, cents a tael
Demand 107.00
Cables 107.00
78.00 Hongkong, cents a dollar
Dcirnnd 76.23
Cables 70.73
S2.44 llombay, cents a rupee
Demand .13.23
Cable 33.50
49.84 Yokohama, cents a yen-
Demand A1.I2H
1.81
1.03
100.00
10(1.81)
73.50
70.00
33.25
33.50
Cables 31.37H
soirrn America.
44.43 Hlo do Janeiro, cents a mllrels
M.12H
01.37H
Demand ...i 17.73 17,7s
CSblu 17.8714 17.87M
42.84 Duenoa Aires, rents a peio
Demand 37.00 ,17,00
Cables 37.12H 37.12U
103.42 Uruguay, cents n dollar
Demand 81,1215 84.1214
Cables S1.374 81.3714
i 3 71
10H
7714
ill!
87
39
124
44
37 4
7714
100
245
5
Vi
11
IP
16
23(4
!3
27
22
69 V
78
55
77
32
26
P
a
8"
1
78
l2oJ
if
60
19
80
36
42
5
18
73
264
17
135
9!
136
13 li
72
38 ',5
60
76",
10
9lJ
6
13i
20
62
3711
85
111
36
53
9R!4
124
120
Mli
82 U.
97
14
54
3!i
84
77
714
138
65
io;
41
51
60
136
0
70S
It
TV,
924
,1
20
17
67 li
29
1201,,
nis
43
65
84
6014
101I
14
9
26
37
6511
77
69
161&
29.
73
27
55 i
80
10
78 1
f
39
124
44 n
100
38V
78
101
250
6 '4
7
12
80c
6
1920.
432.225
Bales,
15
155?
1
169
21 Vi
70
li
79
66
73
32
26
2011
I?1
69
00
16
3311
108
89
48 vf
125
105
24
76
62
3614
6
19
75
26
17
10
200 Adams Kxpress
200 Alaska (lold M
300 Alaska Juneau (1 M
600 Allls Chalmers Mfg
400 Am Agrlc t'hem
600 Am Heet Sugar
100 Am Heet Sugar pf ex dlv.
100 Am Can
300 Am Can pf
200 Am Car & Foundry
400 Am Cotton Oil
1000 Am Druggist Syndicate...
300 Am Hxprcss
100 Am Hide St Leather. . . 1, .
400 Am Hldo A 1, pf ex dlv..
200 Am Ico
100 Am Ice pf
114)00 Am International Corn
300 Am La France Flro Kn'g.
100 Am Linseed Co
300 Am locomotive
1300Am Safety Itaxor
200 Am Ship A Commerce... ,
6600 Am Smelt A- Hef
400lAm Sleel Foundries
J 00) Am Steel Foundries pf. .
300 Am Sugar Hef
kOOlAm Sumatra Tob
450 Am Tel & Cable
800 Am Tol A Tel
350 Am Tobacco
400 Am Tobacco 11
100 Am Tobacco pf new ,
1600 Am Woolen
100 Am Woolen pf
100 Am Zinc, L A Smelt
390O Anaconda Copper
700 Asccts Heallzatlon
SOOiAtch, Top Santa Fe..,.
200'Atch, Top A Santa Fe pf.
lsoo.Atinntn, mrm (c aii
Atlantic Fruit
At, OulC & W I S S
At, ti A W I S S pf ex d.
Open. II
Ln5.'-L
1919.
1,140,21)0
300
2100
100
13500
2109
600
200
500
600
300
1700
Bultlir.orn A Ohio
Baltimore & Ohio pf. .
Unmet Lcnther
Hnrmtt Co
Hntopllas Mining ....
Ilcthlehem Motors ....
Hethlehcm Steel II...
SK Vi
78
10 li
68
961,
13
20
61 4j
37
87
111
86i
5014
9St2
124
119
911 ',4
90
12
54
3
83
76a4
.1
60S,'
HON
41
6014
bu
Low-eet.
IUV 'a
41
50
50
136 1136. 136
96 J
12
20
60
3614
87 li
111
65),
46
981..
123
119
90S
811.
96
12
63M,
2 8.
83
76
7
19
136
60
10914
41
60 Uj
Cloa
Int.
1918,
Kx. closed,
Net
7614
10
68
Ctianit. I lld. I Ak.
1 200 Brooklyn nupld Transit..
Jiklyn imp Tr ctfs or oep.
Hums Uros
Htitte Copper & Zinc
3000
800
200
300
1300
100
200
4600
Huttn & Superior Copper,! 19
Caddo Cent 0 It.
California Pack Co
California Petrol
Cnnndlnn Pnclflu
500 Central Leather
1800'Cdrro do Pasco Copper.,
1
10
1
6
7
6
7
4
50c
2
1
60c
4
1.20
100
300
300
100
300
200
200
300
600
300
400
1100
200
200
100
1100
1700
100
100
200
2100
300
600
800
300
100
2800
900
3000
350
75
2S00
300
110
600
100
500
400
'1400
100
COO
400
200
100
1800
U00
100
100
2600
400
300
800
600
400
8001
100
100
100
100
300
400
IOO;
800,
2600
8700
200
100!
"3100
500
600
COO
100
200
10a
600
200
100
2100
400
3200
100
3200
700
400
1400
2400
Certiiln-teed Prod Corn
Lhamller Motors cx dlv
Chesapeake A Ohio
C'hlcnao A Alton
Chic & li ill pf i;q Tr ctfs
l nicuKO ut western
Chicago Ot Western pf..
Chicago. Mil A St Paul..
Chicago, Mil A St V pf . . .
Chicago A Northwestern,
Chicago Pneumatic Tool..
Chlcaito. It I A Pacific. . .
Chicago, It I A P 6 p c pf.
I'liicago, 11 1 i- 1 p c pi.
Chic. St P. M A Omaha. .
Chile Copper
Chlno Copper
Cluett, Peabody A Co....
Colorado A Southern.,...
Columbia a A Flee
Col Qraphophono cx dlv..
Consolidated cigar
nonHollilnted (Ins .......
Con Intcrstnto Cal .Mln...
Continental Onn
Continental Candy
Corn products iter
Cosden A Co
Crticlblo Steel Co
Cuban Am Susrar ex dlv,.
Cuban A Sugar pf ex dlv.
Cuba 'cano HUgar
Cuba Cano Sugar pf.,..
Delaware A Hudson....
Del. Lack & western. . .
Denver A Hlo Grande. . .
Denver A Hlo Grande. (..
Domo Mines
Ellr Horn Coal Com..,
Kmerson Urnntlnglamp
Erlo
Erie 1st tif
Famous Plavers-Lasky pf
Federal Mining & umcii. .
Ktsk Rubber
FreoDort Taxns
Oaston IV A Wlgmoro....
General Chemical Co
General Motor
General Motor Corp deb..
Gen M Con' deb pf 7 p 0.
Goodrich (It F)
Great Northern pf
rent Northern Oro ctfs..
Greene Cananea Copper. .
Gunntannmo Sugar ex dlv
Gulf, Mobllo & North....
Gulf States Steel
Hablrshaw Klec C
Hendee Manufacturing . .
Hnslcol A Hnrker Car....
Homestaka Mining
Hupp Motor
Hydraulic steel
Houston Oil Co
Illinois Central
Indlahoma Hef .........
Inspiration Con Copper...
Interboro Con Corp
Interboro Con Com of...
Int Agrl Corp
int Agrl corn nt
Int Harvester Co new. . . .
Int Harvester Co pf new.
int .ner .Marina
Int Mer Marine Df
Inter Motor Tntck 2d pf.
international isickci ....
International Paper
Invincible OH
Iron Product Corp
Island Oil A Trans Corp. .
Kansas City Southern...,
Kelly Springfield Tire....
Kcnnecott Conner
Keystono Tire A Rubber.
16
120,4
42
53
S4
60 U
9
13
8
23ti
36 K
56
7414
81
36
66
2I
64
23
74
79
78
U'S
89
39 1'
125
44li
93
38
CBI
13
8T
74
83
36
66
78
66
15
2914
72 j;
27
53
23
74
7911
10
78
lift
89
39
125SJ
441
93
38
77
101
24
15
H
82W
2814
23
8
158
nit
67i
63
83
00
9?4
12
25
36a;
54
74
81 a;
36
66
771,
CO
14
29
93
38 ll
69
75
63
65?
14
25
69
43
33
10614
88H
7
47
314
1014
IS J4.
79
23
76
62
19
80
36
1
1
1
i
U
year 'o 'hite 152.367,65 1 V
r-CI0ilnc.-
67
I) v,l
47 4,3
47U'3
20n; I 2
13 ..
102. 7
20 I ..
173; 12
Sales.
300 Lack Sleol Co ex dlv
200 I.ako Krle A Weatern of..
600 Lee Rubber A Tire
200 Lehigh Valley cash
900 Lehigh Valley ex dlv....
1700)l.oows lno
lOOOiLoft Inc
600 liulsvllle A Nashville,,.
900 Maxwell Motor
SOOiMnxwell Motor ctfs
31200'Mexlcnn ivtroloum
looi.Moxlcan Petroleum pf....
Upm- lillgn
in
lftlfi
208,392.8,33
ng.
4114
91
8511
42V
21
33
iiw
60
81
65
84
30
17
96
114
76
3914
93
10
92
44
66
79
29
15
!
i?8
12
6
139
C4H
31
70
60
650
650
104 T
60
23
64
13
121
42
205
11
22
60
84
48
85
107
65
.89
106
64V
69 U
69
107
lis
14 U.
9
47
56
1SU
. 1
.1 iuu,.tiinmi copper ,
11 1.60 24500Mlddle Slates Oil ex dlv.
suu .xiiiivnio KKi urn
200 Minneapolis A St I, new..
100 .Minn, St PASS M
25 Minn, St P A S S M pf...
1400 Missouri, Kan A Tux
300 Missouri, Kail A Tex pf..
iuuu .iiiHHoiiri j'nciiia ,.,
.1 SOO'Mlssourl Pacific pf
. SOOIMont. Ward ft Co
. 8700l.Niitlomil Anlllno A Chem.
7 JOOINat Anlllnu A Chem pf..
5 2200' National Cloak A Suit-...
. 600Nntlonal Conduit A Ciiblo.
6 100 Natbnal lCniim A Stamp.
6 600'Nntlonal Lead Co ex dlv.
71 100 National Lend Co pf
. 600 Nat R R of Mex 2d pf...
1 -wvv ...7. ...,. WII V I'l'l'l'l ...... .
. COOINew Orleans, Tex A Mex.
6 400 New Ynrli (.nlrnl I
600 New York, New II ft Hart
100 New York, Out A Wist...
200lNorth American Co
800'Noithern I'aplfl,'
1300 Oklahoma Prod ft Ret...
lOOlOntnrlo Silver Mining...
400!Orpheum Circuit
300 Otis Hlavntor
500 Otis Stool
600'Parlllo Development ....
300' Pacific Gas A ICIectrlo. . . .
173001 Pun Am Petrol ft T
900Pnn Am Petrol ft T II...
200 Pnrrlsh A Hlnghnm
1600 Pennsylvania it R
4300 Penn Seaboard Steel
100 Peoples Gss, Chicago..,,
800 Pero Martpietto
200Pere Marquette prior pf..
louuirmianeipinii t.:o
1 A&
129 M
331
i
64
38
37i;
36
141
65
85
a
77
3914
95
16 1,
92
44H
67
100 Phllllus Petroleum
1100 Pierce Arrow Motor.....
600 Plerco Oil Corp
300 l'lerco Oil Corp pf
12400 Pittsburg Coal of Pa
600 I'lttsburg Coal of Pa pf . .
1000 Pittsburg & West Va....
3200 Pond Creek Coal
200 Pressed Steel Car
300 Pullman Co -. . ,
400iPuntn Allegro Sugar
300iPuro Oil
300'Hnllway Steel Spring..,,
iuu Kay consul cop
68 U
22
23
47
20ii(
13
103 '
8"i
173
4
;i
39
15
IF
,1
20
7l4
32
82
89
42
S
.,8 lj
75
ll
60 I
74
33
2014
79
" V
26
130
23
3
4
et.
!;
74c
48
20611
89
106
84
48
15H
55 ,
10714
01
9600
100
2300
900
2200
900
74001
100
1000
100
1400
1600
100
200
100
10001
.6500
1600
2300
2500
lOOi
50
7
300
100
100
400
14800
1500
1300
300,
11600
2000
500
100
300
2001
6400
200
Hendlnir
Heading 2d pf
Remington Typewriter , ..
Iteplogla Steel
Republic Motor Truck....,
Republic Iron A Steel,,.,
Royal Dutch Co N Y. . , . .
St Joseph Dead...
St Louis A San Frun
St Louis A Sun Fran pf. .
St Louis Southwestern,,.
St Loulj Southwestern pf.
aniu cecuia augar
Saxon Motor
Sears Roebuck Co.......
Shell Trens ft Trading...
Sinclair consul Gil
Sloss-Sheffleld 8 A I
Southtrn Pacific
Southern ll.tlhvnv
Southern Hallway pf
smnunru uu or .N j...,.
Standard Oil of N J
Standard Oil of V .T Df . .
Stand Oil of N J pari pd.
ritowari warner Hpoed...
Strnmberg Cnrb ex dlv...
Studcbnkiir Corp
Superior Oil
Superior Steel Corn
Tcnn Cop & Chem
Texas Co
Texns Pan Coal & Oil....
Texas A Pacific
Third Avenue ,
Times Sq Auto Supply...
Tobacco Products
Transcontinental Oil
Transue A Williams Steel
100Twln City R T
200
600
2600
200
3300
300
800
1600
100
2500
2100
400
3200
200
100
13600
1800
3700
21100
100
800
300
900
300
1400
500
700
100
500
200
400
200
500
2600
200
100
900
Union Hag A Paper
Union Oil
Union Paclfla
United Drug Co 1st pf...
United Fruit Company...
United Hy Investment...
United Hy Invest pf
United Retail Stores
U S C I Pipe A Fdy pf.r.
U S Food Prod Corp
U 8 Ind Alcohol
U 8 Realty A Imp
V 8 Rubber
U S Rubber 1st nf
U 8 Smelting, RAM....
u til eri 1
U S Steel pf
Utah Conner
Vanadium Corp
Vn-Carollnn Chem
Vn. Carolina Chem pf . . , .
Vn, Iron, Coal & Colto....
Vlvaudou V
Wabash
Wabash pf A
Wolls Fargo Kxpress..,,
Western Maryland
Western Mnrylnnd 2d pf.,
Westorn Pacific
Western Union Tel
WeatlnghotiBo E A M....
Wheeling A Lako Krle...
White Motor
Willys Overlaml
Wilson & Co.
Woolworth, jyw
Worthlngton Pump
'4
15
56
107T4,
01
'4814
12
4611 4 600 White Motor 45i
1514 1 2600 Willys Overland 16
a, 1 Dl iU usun k DO
108 8 100 Woolworth, jyw 107
63 I 6 900Worthlngton Pump 62U 63
Odd lots,
NOTE Odd lot transactions are not recorded In separate line unless sales
wero mado at price outside of the regular full lot rang.
85
21
ir'
t
OU..J
36
in '4
13
SI
64
84
30
17
96
114t5
77 4
39
Sj
,?.ii
4T4
r
80
28
S9&
lti
27
40
27
38
14
53;
139
55 1
31 si
71
94H
27
60
659
650
10414
10511
31
62
18
5
0
61
40
36
234
05
13
s
86
28 li
121
44
206
11
23
68
40
IV"
4914
86
108
68 14
89J
64
70
7014
107
120
15
9
1014
30
8414
4814
!3
103
8
,7
9414
19
14'4
39
1514
76
DO
II
4 ('
32
83
90
42
70
101
6
11
501
74
34
30
52
7911
4 V
514
26
130
23
32
45 V,
2(
90 S
i i.r
Low-
nt.
1918.
92.434,323
Clo).
Ing.
004
31
72
95
28 14
60
659
630
105
10511
31
73
il
63
10 ,
61
?5
23
63
14
it
86
28 li
121
41
07
61
85
108
5 8 U
89
107
66
7011
7014
107
120
1611
9:
36
11
16
;;$!
48
12U,
46
10-T.
68
22
23
47
4614
20
13 1
102 '1
a
172
94
isfi
39
15
IF
i?tt
ill Vl
47
32
81
89
37
. (
68",
7SJ
101
11
49
74 ti
8
79
4
ri
28
126
23
82
46
91
84
24
42
33H
24
60
3714
36 1
13H
80 14
H4
841;
29 '1
17
951
114
7r.
39
93
1011
5? 14
28
83
26
111
27
38
14
r.
133 V)
54 4
31
71
94li
22"
60
659
650
104
10511
31
72
62
18
51
c9o!
40
36
P
35
86
28
121
44
04
r.9
108
58
89
106
031V,
107(5
120
15
9
27
55
10
16
29
841!
ni Mi
48
12
107
61
68
in
24
47
40!
n
"4
8
173
94
19
14
39
16
i?!i
26
47
32
82
89
37
8
58
76
!
411
74
33
20
1
514
.?
23
32
45
91
83
2?4
ill
sat!
24
37
36
id
18
95
115
77
IF
161
58
80
29
83
27
38
14
6
139
34'.-
ilSt
Change.
31t;
7H;
60
639
650
105
10511
31
72
63
19
63
10
50
40
36,.
II
14
J8U
86
28
1-1
44
205
III
l"
60
84
49
86
108
58
89
106
64
69
70
107
120
16
9
10
16
29
Silt
461;
1
I I
4- i
1!!
-
4-
6
-
4-
4- 1
'
i.j
J GOSSIJP OP WAXX BTEEET,
NloeUs Churn ilnnertnlulr.
I Slocks churned yesterday rather furi
ously nt limes and quietly at others nnd
found themselves nt the end of the day
back nt the stnrtlug point, In fact, the
average of twenty Industrial stocks last
night recorded a decline nf 0,05, whlln
twenty representative rail stocks de
clined 0,17. The day whs marked hy tho
pulling and hauling of factors this wny
and that, which left traders at thn
close In rather u, bewildered stntn of
mind ns to the Immediate outlook,
Mexican news, tho prospective nrrlval ot
gold from Ftjance, dividend payments on
the porphyry copper storks and 6 per
cenjj call money, reached In the late
Afternoon, were construed ns bullish,
Hauling ngnlnst those developments,
however, wero a sharp note from th
President tn thenthraclto coal minors
on "vacation," n decrease In the unfilled
orders of the Pteol Corporation nnd tint
probability that ln.da bnnlc state
ment would continue to record n strain
on the country's credit resources, Mar
kot action nf most stocks followed close,
ly thnt of Thursday, A considerable
cloud of dust wns raised by Mexican
Petroloum, Pan-Amercnn Petroleum and
Houston Oil, but It was noticeable, as on
the previous dny, thnt tho Hroet In gen
eral was anxious to rash In profits wher
ever they might ho found. ,
(Jrtllnir Out With n Profit,
It was, rather nn amusing spectacle
to see the bltf traders, who hnd under
taken to provldo the day's smoke screen
during thn balance of the market, dnsh
In out of the rain near the close, At 3 130
o'clook, Mexican Potroleum had reached
170, Pnn-Amorlcan Petroleum 92,
Houston Oil 110, nnd Cruclblo Steel
123. Tho smoke screen hnvlng been
provided nnd served Its purpose, It be
came their Job tn remove It und nt thn
same time garner any prnilts which
might havo accrued, All hands wero
piped nboaid und several good sired
blocks sent overboard with n splash,
In tho Inst thirty mlnutos of trading
Mexican Petroleum declined from 176
to 173, Pnu-Amerlran from 92 to
91, Uouston Oil from 110 to 107 nnd
Cruclblo Steel from 123 to 124, Tho
rush to get out was so great nt the eloso
that many good men wero trampled on.
IfnflUful Tounnvr.
Just what drnstlo changes have taken
rlaro In the steel situation Is reflected
In n measure hy tho statement of unfilled
orders of tho United States Steel Cor
poration, which showed it docrease of
313,430 tons, it must bo borno In mind,
however, In considering thut decrease
thnt It Is nf n tlutu when stool wns In
truth n drug In the market been u no of
the Indecision of buyers concerning n
possible t)ow price schedule nnd n new
schedtilo of freight rates. Automobile
manufacturers' cancellations have been
very heavy nntl they In part explain
that decline. Tho Street wns prrpnrcd
for just nhout such a document ns wns
Issued and It would havo occasioned no
great amount of surprise If ti half million
cecrcuso had been recorded,
Mexico's Promises.
'Tho words of President-elect Obregon
sound fine In Wall Street's opinion. Ho
will protect domestlo and foreign capital,
ho suys, will seek to pay Mexico's ob
ligations and assures every one the
Mexican equivalent of n squu re denl. Un
drubtedly this Is good news for stock
holders of such corioratlons as Mexican
Petroleum. Aliunde rinlf ,,.,,1 :,
Indies, American Smelting and other
vioiiTicun interests wun largo holdings
In tho republic, but Just now their stock
holders would much rnthcr behold soma
sort of siwclflo performance of good
fnlth than listen to well sounding wordn.
TIih' ilo lwtr fMrcn- th,,. ?'.......... -..t..
- ..-. w... . (..,-.. mitt,
about the samo thing, thut Huerta made
similar sounds, that every other Mexican
i.reiiirui iinin 10 ino, (lays Ol JJlaz was
lenir on nrumlau uml hnr
nnco when American ropltal was con
cerned. "If Obregon means It," declared
ono man yesterday, who has some big
Interests In the republic, "tho best wny
1 can prove It Is to pay the back Inter
est on the 'epubllc's bonds and give It
Sum sort of flnmiful alnmlln.- .1...
. ',, ..tufc Willi
bo relied upon."
i3
Is
i
i
4- 1
1
'
I
4
'
"
i
3-
4-
8
I.nckitxxnnnn'a SrKreuatlon Plnn.,
A tontntlyo plan for tho segregation
of Its ronl holdings from Its rail prop-
t-i "tn nun ucvil completed DJ" Officials
of tho Lackawanna Railroad Company.
It will bo submitted to the Interstato
Commerce Commission next week nnu
until Its formal presentation the com
pany's executives decllno to discuss tho
terms of the proposed transfer. Tho
fnct thnt It must go before tho commis
sion suggests thnt there will be nt lenst
some financing through tho Issuance of
stock of the new company and possibly
other securities.
French Honda nt 101.
It developed yesterday that several
prospective Investors In the new 8100,
000,000 French l'oun, who hnd been re
quired to tnko less stock than antici
pated becnuso of the allotment, havo
placed orders to buy tho securities In
tho open market, which probably ex
plains tho ndvance of the new bonds,
known ns "French 8s." to 101, nt which
prlco Bevcrnl thousand dnllnrs' worth of
them sold yesterday. Tho general Im
pression among bond men Is that they
should sell on n par with the Swiss Ss,
which sold yesterday at a high ot 102,
There has been somo switching from
Hclglan 7s Into the new French 8s,
evidently, for the former securities have
been rather heavy for a day or so and
sold nt 97 yesterday.
Copper Dividends iTnctiangfcd.
The decision of tho directors of the'
porphyry, companies to mako no change
In tho dividend rate this quarter was
hailed by many as a sign that the copper
Industry had turned tho corner, Many
of the corporations, ot course, nro run
ning nt n loss, but the outlook for In
creased production In view of the fact
that tho aurplus has been about cleaned
up evidently has heartened copper dl
roetcrs. Tho Utnh dividend Is $1.50;
Chlno, 37 cents; Ray Consolidated, 25
cents, and Nevada Consolidated, 25
cents. According to recent statements
by t,he heads of various copper produc
ing corporations there are, several In
quiries for good slied shipments of cop
per In Iho mnrket, the most recent being
from German manufacturers, attempting
to nrrnngo some sort of credit thnt their
posslblo purchases may go forward.
Union Oil's Dividend."
According to n report current In Wall
Street dlreotoro of the Union Oil Com-
nnnv win mppi wimin inn nnv, ...u,
so to declare tho Initial dividend on Its
stock, Tim corporation, according to
Its latest report, Is producing approxi
mately 7,000 barrels a day, exclusive of
its equity In the production of tho Union
Oil Company of California, nnd has
reached n ntage In Its development In
which R conservative dividend on Its
common stock can be maintained.
.Modern Miller's". Outlook. '
Special to Tits Sun and New Yosk llnui,
Ciiicaoo, Sept. 10. According to tho
.Vodern Miller, "reports Indlcato that tho
Government will have to revise ltn win-1
ter wheat estimate upward when the
final report Is made In December. Yields
have exceeded expectations. In somo
ftertlnnn anil nrtnriltlnna Itnvn V-t .....
erally favorable for fall ploughing nnd
seeding, notable exceptions being In
parts of Illinois and Indiana, Seeding
has commenced In Kansas. Advices as
to acrengo nre mostly optimistic The
country Is still Inclined to market wheat
slow)y."
CHEMICAL MERGER
PLAN ANNOUNCED
""sssssse
Now Corporation Will inVo
Authorized Cnilliill,iii of
.W,000,000 Prcforinl,
The new chemical company ,,.(, )4
grown out of tho merger of i!, f,v,
Ing chemlral und dye in.inuf.trt umtB
companies In the country uiii ,K vnow
ns the Allied Chemical and Dye i n,0r,.
(Ion, n,erordliig to aniiPiiurenifi.t m,'
yesterday, The new corporation m
Imve, an nuthorlncd ciipuiiiintinii n
-$15,ono,000 of prefern.il sluik imu a.uoj.
..... ... pimn in no
value, Jlnaed on n hnsix f fi-u' :
share for the common uv
figure It has sold on the cmh on h, 5
ns and if Issued basis, the compitm i i. fl
IIHMlftuil IHIUIUIIIIIllOn W if 1111)10 thin
1252,000,000, of which 1171 Dii.nVS m
be oulslamllng, In udilliinn ti, t,,,,,, "
Indubtedness of the nnsoiidstme '..,
pnnles, aggregating I).t9.1,000, um r,
mnln undisturbed und becomo nn oMi
gntlon of tho new corporation,
The merger hns been effected nireuiii
tho consolidation of the (lemrai (W
leal Company, tho llarrett (VnniMiiv Hi.
Hnmet-Solvay Company, tho r'Vlly
Process. Company nnd the Natiomn J,
lino and Chemical Company Tho shitr,
holders of those five vomiutdes i m
given stock In the new company in ti.
change for their present shiiiei., tM, i,,
of exchange varying In the . in.es ef th
different companies, Aimoiitter inent cl
that plan of oxrhnnge of slocK whs iiim,
Muhols, chairman of the board of dlrec.
tors of tho Oentral Chemical CompAni
It shows that the Bhares of the conwi .
dating companies uro to be exchanged
for shnres In tho new company M tu.
lows! Clenornl Chemlral Company 6 Mr
cent, proferred nnd Nntlorinl Aniline T
per cent, preferred, exchanged for ntv
preferred stock share for share; lir.
rett 7 per cent, preferred stock, l l.ic
shares of new preferred for a shire ol
old. Holders of common stocks tun
receive comion shares In the new cor.
porutlon on the following Imsli; oen.
eral Chcmlcul, 2,6 shares for one; Holvay
Process, 3,16 shares for one; Semcl-Eol-vay,
2,66 shares for ono; llarrett Cora,
psny, 2,29 shares for one, nnd National
Aniline, 1.4 for ono. 1
Tho nnnouncemont of tho dPiu.
tho now compnny's cnpltallxatlon, madi
yesterday by Dr. Nichols, follows In
pnrt;
"Tho nuthorlxed capital stock will not
exceed 105,000,000 7 per cent, cutnult
tlvo preferred stock, shares 1100 par
value, and 3,000,000 shares ,of common
stock without par value,
"It Is estimated that tho outstandlnr
capitalization of the new compan;,
based on tho deposit of nil outstnndlni
stock of the consolldntlng companlti
nnd nftor elimination of Inter-company
holdings, will bo: Honded In4ehtcdncu
of consolidating compnnles umllaturbri
$9,493,000; 7 per cent cumulative prt.
ferred stock, $39,34,300 ; common
stock, without nominal or par value,
2,119,677 shares.
"If current earnings should be sub
stantially maintained, as tho commlttu
believes they wilt he, and If sutstan
tlally half of such earnings In exrtn
of preferred dividend requlrcmtnu r
should bo distributed In regular quar
terly cash dividends on tho common
stock of the new company, as the com
mittee would favor, holders of suth
common stock mny expect to receive
rcgulnr quarterly cash dividends thereon
at tho rate of $6 per sharo per annum.
"Tho committee of stockholders of the
consolidating compsnles in charge of the
consolidation will bo composed of Pr,
William II, N'ichols, chairman of the
General Chemical Company: W. II.
Nichols, Jr., president ot the (leneril
Chemical Company; Ti. I Pierce, presi
dent of the Solvny Process Company!
R, W. Swift, treasurer of, tho Koltay
Process Cnmnnnyi H. H. S. Handy,
president of the Scmot-Solvay Com
pany; A. W. HUdSOn, vice-prwiueiu v.
the Semct-Solvny Company: Kversley
r.i.ii.i rhnlrninn of the Harrett l orn-
pahy; William Hnmlln Chllds. president
of the Harrett Company: Orlando F
Weber, chairman of tho National Ani
line nnd Cliemlcal Company, Inc.. sn
William J. Mnthcson, director of tne
Nntlonnl Anlllno and Chemical Company,
-I..I..S
Dr. William II. Nichols is too cn...-
. .. li i - fllntnn R.I
man or me commiuco - i
Lutklns, 25 Hroad street, Is Its aocre-1
The Ouarnnty Trust Company M
the depositary fpr nil classes of M
compnny's securities nnd III Imu
trnnsferablo deposit certificates ngahti
deposits of stock under the plan. TO
n..L.n Tni.t Comoany will act ni tMI
ittlllV. V - - i I l ,i, 1
reglstrnr of Its deposit ceriiui-
DIVIDENDS.
stock ot r-
nrttrd. sole.
Blll75 .T!'.b.B. . f..'.' -P.f-'-"Sept. 20 Oct. I
Central Coal Cok- Co.. 1. M ,,
Cent'ral Cokl A'cokCo.. Vt. J0 M
Challiam 4'i'iiVnVx'l5it.''rtk.. ,
ni..!,AVJAr ii;'::::;seSt. eePt. so i
Contlnenttal Can Co., 0. a 0f(, ,
Continental Can Co., vi, , 0c(i ,
Hablrshaw Blectrlo Cable. ( J() ,
HasKir Harker. q, $1....H. '
llemleo jug. u., . Mi
Hupp MotoV 'caV ' cVrVV. pf.S(pt M, 1
Imperial uu wo., pi. i. - fr-
Kauimann mm. . gpt. 10 fK't.
Mf CV.: pfVo. 2.;"-'' 'j s
N.i,l Consolidated. 8e. .Bipt. i
Pitts., Hessemer & Lake Erie. ft( , j
Springfield IV. a.ism. i"i , w,
q, 81,75 P
United Verde Mining Co.. q. 5 S(V
Wortmngton rump " ot 0 Oct. u
corp., q. U-J-
EX-DIVIDEND.
Mondas- t.!J
Amer. Locomotive... j.TJ
Anier. Locomotive pr.. j- i.TJ
Case, J. L, Thnsihlns Maeh. pi s.n.i
Klee. Htorago Dattery... ; ;.oi
Klec. Storage llattery pf t,T,,
Nat. Aniline t Chem. pf j.jl
Nat. Sugar Hef !,fl
Smith Penn. Oil 2.W
Weyman-Uruton If
Weyman-Uruton pf
Tuesday . . 1 ' '
IMotli Klaherles pf .. , n
llrltlsh-Amer. Tob 3)
Chesebrough Mfg. i
Cliesebrougli Mfg. pf .... M
Kenneeott Copper TJJ
Montana Power . ... O
Montana Power pf U;
N. Y.. Lack West.. t.5'1
Weat. Pacific It. It, Corp. P'
new a tho" office of the Ceyipaa;.
?08 McCornlek nidldlng. eaU ,
be lawfully brought before I w
r 1n20?"a!ri3bOnt"n,"!lnd 'Us
b"hrl?H.H.ainnno.re..-7-