The sun. [volume] (New York [N.Y.]) 1916-1920, January 17, 1920, Image 12

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The sun. [volume], January 17, 1920, Page 12, Image 12
About The sun. [volume] (New York [N.Y.]) 1916-1920

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The sun. [volume] (New York [N.Y.]), 17 Jan. 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83030431/1920-01-17/ed-1/seq-12/>

Newspaper Page Text

TZ 44
THE SUN, SATURDAY, JANUARY 17, 1920.
ft
ill Phone, Rector 5000 l i
I Josephthal & Co. J
III 120 BroailBcy, New York
jll Members I
ll New York Stock Exchanie I
Foreign
Securities
Private Wires to I
Principal Cities
FINANCIAL NEWS
AND COMMENT
Market Closes Weak, With No
Diminution of Profes
sional Selling".
CARSTAIRS & CO,
MEMBERS
New York Stock Exchange
Philadelphia Stock Exchange
New York Cotton Exchange
STOCKS and BONDS
71 Broadway
Plene. Boulint Grtcn-6110.
Suggestions for Investors
may be had on request
A. B. Leach & Co., Inc.
Investment Securities.
62 Cednr St., New York
Chicago Philadelphia, Boston Buffalo
Cleveland
Baltimore
Minneapolis
BETTER STOCKS INVOLVED
lower Priced Oils Suffer Less,
but Steels Bear Brunt
of Attack.
Information concerning the 8ft
Cumulative Sinking Fund Pre
ferred Stock of the Paths
Freres Phonograph Company
will ha Bent upon request.
MONTGOMERY ft CO..
14 Wall Street. New York.
IN all investment matters the Bond
Department of this Company offers &
thoroughly dependable service.
Guaranty Trust Company
of New York
THE
PHILADELPHIA
NATIONAL
BANK
REDEMPTION NOTICE
PENNSYLVANIA ELECTRIC COMPANY
Five Yenr J Secured Gold Notes.
NOTICE IS HEREBY GIVEN that Penn.
aylvanla Electric Company baa elected to
pay and redeem on the 3rd day of February.
1920. all of Ita outatandlng Five Year 7
Secured Cold Notea. dated July 1, 1911.
maturing July 1, 1923, Issued under and
aecured by Ita Indenture dated July 1.
191!, to Bankers Trust Company aa Trus
tee, by payment of the principal thereof
and the accrued Interest thereon to aald
3rd day of February, 1920. together with
a premium of one and one-half per cent.
(14) of the principal thereof, and that
In accordance with audi election all of
aald Five Year 7 Secured Cold Notei
now outstanding will bo and become due
nnd payable on said 3rd day of February,
1950, at the office of the Bankers Trust
Company, In ths Borough of Manhattan,
City and State of Now York, at par and
accrued Interest therron to such date,
together with said premium of one and
one-half per cent. (l'.Sft), and that in.
terest on all of said Notes then outatand
lng ahall cease to accrue or to be payable
thereon from and after aald date, and the
coupons on all such Notes maturing after
aald date shall be and become null and
veld; and all holders of said Notes are
hereby required to present the same for
payment and redemption on said date at
aald office of the Bankers Trust Company,
accompanied by all coupona appertaining
thereto maturing after said date. Federal
Income Tax certificates with respect to
the accrued interest must be furnished.
By Order of the Executive Committee.
L. A. WOOD, Secretary.
INTERNA I I0NAL PAPER COMPANY
CONSOLIDATED MORTGAGE 6'.
SINKING FUND CONVERTIBLE BONDS.
The Equitable Trust Company of Naw
York, successor to Colonial Trust Company,
as Trustee under International Paper Com
pany Mortgage dated January 3, 1305.
hereby Invites offers to the Sinking Fund
for the sale of bonds Issued under said
mortgage, to exhaust the aum of Two Hun
dred Nlncty-nlne Thousand. Four Hundred
Thlrty-alx Dollars and Five Cents (1299,
438.05). Bonds offered at the lowest prices
will be given preference.
sealed offers will be opened at the office
of the undersigned. No. 37 Wall Street.
New York City, at twelve o'clock noon, on
February 3, 1930, and should be Indorsed
"Offers for the Sale of Bonds to the Inter
national Paper Companv Sinking Fund."
The right la reserved to reject any and
all offers.
THE EQUITABLE TRUST COMPANY OF
NEW YORK. Trustee.
By LYMAN RHOADES, Vice President.
Dated, New York, N. Y., January 5. 1910.
The selling pressure which has char
acterized the itoclc market for the last
week or more continued unabated In
yesterday's session, with pronounced re
sults again throughout the whole list.
Tho lower priced oils, which were bought
so eagerly by tho public a few months
ago at much higher prlceB, went through
another period of deflations and the
rally which occurred In some of the
standard stocks and so-called speculative
favorites seemed to have gone Just far
enough to havo given the bear party
fresh courage to renew their short lines,
which they did with very favorable re
sults. A sharp but premature rally oc
curred around midday under the lead
ership of tho rails, but this In Itself
was a very bad sign In that It was the
rails that led the advance, and only en
couraged the trading clement all tho
more, with the result that tho closing
was the weakest period of the day. Al
together it was another very unsatisfac
tory session, although not surprising In
view of what has tak.cn place In the last
week and In view of the bearlshness of
the financial community In general,
One of tho explanations of the renewed
decline yesterday, If any need be given
at all, was that tho Street had got
entirely over Its Jubilation of Thursday
ever the failure of the Reserve Board to
announce the expected Increase In re
discount rates. In other words, what
the Street did was to get down to the
real facts of tho case. In the first place.
It became doubly clear that on Increase
Is coming, as foreshadowed In this col
umn, as a result of the action proposed
by the New York Clearing House Asso
ciation In an amendment changing the
maximum amount of Interest permitted
to bo paid on bank balances of Institu
tions clearing through the local Clearing
House. This was regarded In conserva
tive circles as tho first step toward an
tncreaso In rediscount rates and, natu
cally, as soon as the Street saw tho an
nouncement It Immediately recognized
that It had taken altogether too lightly
the warnings that havo been given all
of this week on this subject. In the
second place, Indications came from
Washington again that the board Is not
even considering relaxing Its efforts to
curb speculations. This did not count
In the stock market as It might have
a month or so ago because a great deal
l.as already been accomplished In the
stock market In tho way of reducing
loans, but nevertheless It was a warn
ing of what may bo expected If Wall
Street continues to take too lightly the
efforts being mada in Washington to
juib speculation.
In to far as the character of yester
day's selling was concerned. It did not
differ greatly from that of preceding
dava of this week. It was the same per
slstent pressure, wfth the difference that
a better class of stocks was Involved
yesterday. For instance, the lower
priced oil shares were not nearly no
hard hit as on the previous day, but In
their place a new and better class of
locks came forward. The Bteel stocks,
that Is to say outside of Repub.ic, yes-
toiday bore tne Drum or. me sening,
especially Republic. Next to these
issues the weakest features were ti.e
motors, which were led downward by
Chandler and General Motors. The
break In Chandler was particularly sur
prising In that this has been the one
motor stock which has held its ground
nil through the downward movement.
Yesterday, however, It was very weak,
touching a new low record for tho cur
rent movement. The rails made a very
brief- sourt at midday and the Street
took this as an Indication that the mar-
et was about to rally more sharply.
but. as usual, Instead oi rallying the
market the rails only invited more sell
ing pressure.
The money market was cienniteiy
easier. As was pointed out on Thurs
day, the withdrawals for the current
week have been completed by the Gov
ernment, and therefore there Is no rea
son to expect any further flurries In the
money market until the middle of next
veck. If then. As a matter of fact. It
is very doubtful If the money market
will give much trouble then, In view of
the present rate of liquidation, and also
In view of the restriction that has been
placed on buying power in the last week
by Ihe declining market. The foreign
exchange market was weaker again, re
flecting the news In the morning papers
on tho Russian situation. Sterling was
off about several cents from the preced
ing day's closing and there were rather
sharp breaks also In francs and lire.
r-t'ltnl
nid.
2
47
48
91
115
63
98
136
14
95
25
113
107
14
80
26
67
42
134
91
91
93
256
95
66
147
53
19
56
60
COW
714
4
69
74
74
S3
79
7
160
17
109
102
46
90
124
1
28
91
14
93
13
12
8
1C8
24
9
27
22
sow
39
123
47
93
56
57
121
54
5
NEW YORK STOCK EXCHANGE PRICES.
Friday, January 16, 1920.
1020. 1919.
1 055,001 661,172
12,545,228 6,166,017
Day's sales
Tear to dntb
ng.-,
ASK.
MONEY AND EXCHANGE.
The Baltimore & Ohio Railroad Co.
OFFICE OF iTIIE SECRETARY.
Baltimore, Md., December 17, 1911
Notice la hereby given that Mr. George
TV Davon his been appointed Trustee
undw the Refunding and General Mort
gage from The Baltimore & Ohio Railroad
Company to the Central Trust Company of
New York and James N. Wallace. Trustees
dated December 1, 191S. to fill the vacancy
In the office of Trustee caused by the
death of Jamea N. Wallace, until a new
Trustee shall be appointed by the Bond
holders aa authorized bv the mortgage.
C. W. WOOLFORD. Secretary.
LINCOLN MOTOR OFFERING.
Class A Stock Issue to Be Placed
by Syndicate Ilelng Formed.
CALL MONEY.
Mixed Collateral I All Industrials.
High 9 High 8
Low 6 Low 8
Last 6 Last 6
Renewals S Renewals 8
Year's high 18 Year's high U
Year's low 8 lYe.ir's low t
TIME LOANS.
Mixed Collateral. I All Industrials.
Sixty i!r 7 Sixty day S
Ninety dirs 7 Ninety days 9
Four months 7 iFour months 8
Five months 7 IFIve months S
Six months 7 (Six months I
COMMERCIAL PAPER.
Prime Indnrred BlllslStx months 5485
Receivable. J Other Names,
pirty day. SiS84lThre tn fix
Ninety days.... 5B51 months '?f3
CLFAT'INO IIOT'SF. STATEMENT.
C'earln House exchanges. t39f,W8,43.8 bat.
ances, JS1.297.785; Bub-Treasury debit bal.
anee., I'.OOI.S'S: Federal reserve credit bal
ances. JM.S61.031.
DOMESTIC EXCHANGE.
Boston, par; Chicago, par; St Louis. 259
l'e discount: Sn Francisco, nar: Montreal.
tS5.624 per 11.000 premium: Cincinnati, pir;
Minneapolis, 10c. premium.
SILVER PRICES.
Bar silver in New York, 11.284, off 2e.;
In London, 77d., off 3d.; Mexican dollars, 93c..
off :c. .
A syndicate Is being formed bv KIs
ell. Klnnlcut & Co. and CassattA Co.
to offer for public subscription soon
160,000 shares of Class A stock of tho
Lincoln Motor Company of ISO a shari
par value. Tho proceeds of tho financing of Exch.
will be used to give tho company ad-' J6f5 Sterling
fiiLianm wurKini- rnnirn i in r .v. nn - -
o ... itJ? - -
Sterlinir
Demand
Cab'es ..
Francs
Demand Cab'es .
Marks
Demand Cables .
Normal
rite
High.
13.63
, 3.70
11.53
11.57
1.77
1.78
Low.
S3 68
3.69H
11.63
1L61
1.74
1.75
List.
13.684
3 69
11.83
11.(1
1.77
1.78
Prer
close.
13.70
2.71
11.49
11.47
1.75
1.78
-Yesterday's Close-
uemanc
or checks,
$3,684
Marks
11.83
1.77
Tho company's Dlant comnr!en flfiv. t
flva acres, two factories and a city of
fico building. Replacement value of that , 30
'roTty. according to engineers, Is ap- 402J
ro.tlmatcly 19,000,000. In addition tot 33.41
which the company Is mid to havo quIcK I
resets of $7,436,091. Its not- tangible .
Value, aggregate $11,777,033..
5.1S12 Belgium 11.C7
China
Honrkong s
Shanihal l.sg
14.50
Cables.
13.6814
11.61
1.78
ll.U
1.5634
14.60
ktnnk of France Statement.
Paris, Jan. 16. The weekly state
ment of the Bank of France shows tho
following changes: Gold In hand .In
creased 245,000 francs, silver In hand
decreased 3,207,551 francs, notes In cir
culation decreased 109,302,230 francs,
treasury deposits Increased 9,051,976
francs, general deposits decreased 94,
847,515 francs, bills discounted Increased
87,839,763 francs, advances decreased
Jl.041,430 francs.
to.oo
5.1S13
36.S0
44.42
1.0304
43.84
19 30
(.1113
(1.49
Greece
Holland
India
Bombay 44
Japsn
Yokohama 49?i
Philippine Islands
Manila 49
Italy. 13.72
Sciiidlnavla
Stockholm 20 53
Chrlstianla 19.30
Copenhagen 17.45
South America
Rio 3TH
Argentina (gold).. tti
Buenos Aires 434
Spain 19.13
Ewltaerlsnd (.58
Russia (Currency)
00 rubles 2.75
100 rubles 2.3.5
T11IE BILLS ON LONDON.
Bankers. commercial.
days a...tJ.MUI days., 13.44
j.. s.waiw cays z,eiu
4U
(OH
49V,
13.70
M 85
19.30
17.25
574
3H
H
19.11
C.5
3.04
3.(0
1)0 days
1
23
35
51
84
117
26
60
70
19
3S
45
3D
41
n
42
62
50
81
80
18
28
12
S'74
105
201
99
49
83
93
12
12
64
35
132
12
19
14
85
29
41
32
17
98
71
167
305
84
82
76
50
78
38
35
78
102
57
65
3
12
19
125
41
96
23 I
80
70
46
18
41
26
15
44
132
79
97
30
36
83
31
43
23
31
170
109
64
128
42
28
53
122
189
40
49
12
72
9
25
40
64
97
71
48
65
87
118
83
80
5
16
42
106
08
26
26
96
26
68
43
135
91
93
98
270
97
67
148
55
19
58
61
61
1
4
59
.5
76
84
79
8
161
18
111
102
31
46
95
125
1
28
92
114
94
14
13
8
8
110
26
9
27
22
80
39
129
50
93
56
68
122
64
6
9
24
36
52
86
118
26
61
71
19
38
47
39
42
23
48
63
61
82
82
18
29
12
82
107
205
100
o"tt
84
95
13
12
6"
41
133
13
20
15
86
31
41
32
17
100
72
168
307
84
83
77
50
78
39
38
79
103
58
55
4
12
20
127
41
96
24
85
79
46!
11)
42
27
1G
47
134
80
9S
31
37
84
34
44
23 !
31
175
112
64
130
44
Bit:
in I.
Ralei.
10
3
6 100 AJasc Rubber 83
1 .. 700 Alaska tlold Mines 1
2 ., Of 0 Alaska Juneau O M 2
47 . . 3500 Allls-ChalmerH Mfg 49
07 6 100 Am Agrlcul Chemical pf. 96
45 3 :co Am Rank'Noto 45
45 3 100 Am Hank Note pf 45
92 8 300 Am Hir H.iir.-ir 32U
117 8 1700 Am Bosch Masnoto 118
.. .. S200 Am Dosch Magneto rts... 6
68 .. 3500 Am Pan nSU
100 7 100 Am Can pf 09
137 12 2200 Am Car & Foundry 138
14 80c 11800 Am Druggist Syndicate.. 14
08 6 200 Am Express 05
25 .. 200 Am Hide A T.enthcr 25 U
114 7 12C0 Am Hide & Leather pf... 113
108 6 11600 Am International Corp... Ill
14 60e 900 Am Ln. V Flro Ens 14
80 3 14100 Am Linseed Co 79
6 7800 Am Locomotive 08
7 100 Am Locomotive pf 104
iro Am Ma t & Grain 38
2100 Am Ship & Commerce.... 26
1000 Am Smolt & net 69
1800 Am Steel Foundries 44
100 Am Sugar Ref 135
10 2000 Am Sumatra Tobacco ... 91
100 Am Sumatra Tobacco pf. 91
5100 Am Tel & Tel 97
200 Am Tobacco 270
200 Am Tobacco pf now 97
14200 Am Tobacco See 68
19500 Am Woolen 153
200 Am Writing Paper pf ... 65
700 Am Zinc, Lead & Smelt.. 19
100 Am Zinc, Lead & Sm pf, 58
5100 Anaconda Copper cx dlv. 61
100 Anaconda Copper cash.,, 62
300 Ann Arbor 7
900 Assets Realization 4
1300 Associated Dry Goods ... 60
200 Assoclat Dry Goods 1st pf 74
101 Ansocint Dry Gds 2d pf.. 75
loo Associated oil Co lis
800 Atch. Top & Santa Fe ... 82
200 Atch, Top & Santa Fe pf. 79
300 Atlantn, Blrm & Atl 7
2300 Atl. Qlllf & W I S S 161
400 Autosales 16
65200 Baldwin Locomotive Wks 113
100 Baldwin Locomot Wks pf 102
1300 Baltimore & Ohio 31
200 Baltimore & O pf ex dlv.. 46
100 Barnot Leather 90
600 Barrett Co 126
200 Batopllas Mining IV,
800 Bethlehem Motors 28
100 Bethlehem Steel 89
300 Bethlehem Steel 8 p o pf . 113
17700 Bethlehem Steel B 95
300 Booth Fisheries 14
400 Brooklyn Rapid Transit.. 13
lOOOlBklyn Rap Tr ctfs of dep 8J
200 Brlins Term & R R 7
10 600IBurns Bros 108
100 Butterlck Co , 24
1600 Butte Copper & Zinc 10
1000 Butte & Superior Copper. 27
700 Caddo Central O & R. .. . 22
300 California Packing Co.. . . 80
400 California Petroleum .... 40
10 2400 Canadian Pacific 130
6 100 Central Foundry pf 47
5 2300 Central Leather 94
41 llOOCeno do Pasco Copper... 56
4 100 Certaln-teed Prod Corp... 57
8 5800 Chandler Motors 126
4 300 Chesapeake & Ohio 65
200 Ch & E 111 pf Ea Tr ctfs. 5
200 Chicago Gt Western .... 8
200 ChicaRO Gt Western pf.. 23
3800 Chic, Mil 4 St Paul 35$
3400 Cl.lc, Ml! & St Paul pf... 51
2100 Chicago & Northwestern. 85
100 Chic & Northwestern pf.. 117
600 Chic, Rock Isl & Pac 26
6 SOOIChlc, R I & Pac 6 p c pf. 60
7 200CWc, R I & Pac 7 p c pf. 70
H00 Chile Copper 19H
700 Chlno Copper 38
100 Cleve. Cln, Chic & St L.. 43
2400 Coca-Cola 39
700IColorado Fuel & Iron.... 42
100Colorado & Southern .... 22
4 100 Co & Southern 2d uf 43
4 600 Columbia Gas & Elec... 63
1 1300 Columbia Graphophono .. 61
7 100 Consolidated Cigar pf . . . . 82
7 100 Consolidated Gas ........ 81
300 Con Intorsta'.e Cil MIn.. 18
3 300 Consolidated Textilo 27
1 700 Continental Candy 12
4 7500 Corn Products Ref 84
7 100 Corn Products Rof pf . . . . 106
12 6900lCruclb!o Steel Co 204 208
7 2C0lCruclb!e Steel Co pf 100 100
.. 6400 Cuba Cane Sugar 50 50
71 SOOlCuba Cane Suqar pf
9 100Dn'.awnro & Hudson
,. 2600'Denver & Rio Gr.inde pf.
li 4C0'Dom! Mines
lOO'Du ham Hosiery Mills....
3i 100'Elk Horn Coal Corp pf..
5 ISOOiEndlcott Johnson
1300 Erli
1600 Erie 1st pf
700 Erie 2(1 pf
2700 Famous Players-Lasky..
300 Federal Mln & Smelt pf..
4100 Fisk Rubber
1000 Freeport Texas
600 Gaston, W & Wlgmore..
6 200 General Chemical Co pf.
6 800 General Cigar Co
81 100 General Electric Co
12 10300 General Motor Corp
6 500 General Motor Corp pf...
6 700 General Motor Corp deb.
4 6400 Goodrich, B F
200 Granby Consol M & S....
7 2600 Great Northern pf
4 600 Great Northern Ore ctfs.
100 Greene Cananea Cop....
1100 Gulf States Steel
6 600 Hartman Corp
4 200 Haskell & Barker Car...
3400 Inspiration Con Cop
600 Interboro Con Corp '
1300 Interboro Con Corp pf...
200 Int Asr! Corp
800 Int Harvester Co new. . .
15900 Int Mer Marine
8000 Int Mer Marine pf
3100 International Nickel
200 Int Motor Truck 1st pf..
8600 International Paper
500 Iron Products Corp
200 Jewel Tea
200 Jewel Tea pf
100 Jones Bros Tea
200 Kansas City Southern...
41 100 Kan?as City southern pf
4 1600 Kolly Springfield Tiro...
100 Kelsey Wheel Co
7 200 Kelsey Wheel Co pr
2 2400Kennecott Copper
1.20 10700 Keystone Tiro & Rubber.
28
60
123
189
40
49
14
74
9
25
41
65
100
49
66
SS
120
83
81
5
16
45
110
68
29
60
20
93
83
1
O
u
49
86
45
45
02
110
6
64
09
138
14
95
26
114
111
14
82
08
1U1
88
26
69
44
135
92
91
98
270
97
68
153
55
19
58
61
62
7
4
60
74
75
115
84
79
7
161
17
114
102
31
46
90
126
1
28
89
113
95
14
13
9
7
103
24
10
28
22
80
40
130
47
95
56
67
126
55
6
8
23
37
52
85
117
26
60
70
19
38
45
39
42
22
43
63
52
82
81
18
28
12
85
Lowest.
I Clot
lag.
1918,
448,844
9,486,892
Net
Change,
83
5
47
96
44
45
91
116
5
63
09
185
13
05
25
113
107
14
79
96
104
38
26
67
43
135
90
91
97
270
97
66
147
54
19
58
60
62
7
4
69
74
75
115
82
79
7
159
16
110
102
31
46
90
125
1
27
89
113
93
14
12
8
.7
108
24
9
27
22
80
39
128
47
93
65
57
121
55
5
8
23
35
50
84;
117
26
60
70
19
38
45
39
41
22
43
49
82
81
18
27
12
82U
106 106
204
S3' 83
3
2!
12!
7
4
10
7
1
4100 Lackawanna Steel Co.
800
300
3000
800
200
200
100
100
100
100
100
200
100
41600
1.20 63400
4900
100
100
600
2700
200
200
100
3.50
4
6
5
1
io
6
2
"l
7
Lec Rubber & Tire.
Lehigh Valley
Loft. Inc
Loews, Inc, ex dlv
Lorlllnrd, P, Tob
Louisville & Nashville...
Mackay Cos pf
Manatl Sugar
Manhattan Elev guar....
Manhattan Shirt
Martin-Parry Corp
Maxwell Motor 1st pr....
May Dept Stores.:
Mexican Petroleum
Middle States Oil
MIdvale Stl & Ortl ex dlv.
Minn & St Louis new....
Minn, St P & S S M ...
Missouri, Kan & Tex....
Missouri Pacific
Missouri Pacific pf
Montana Power
Montana Power pf
19Morrls & Essex.
200 Mullins Body
2000 Nat Aniline & Chem
200 Nat Aniline & Chem pf . ,
200 National Biscuit Co
900 Nat Enam & Stamp
200 National Lend Co
500 Nat R R of Mex 2d pf . . .
100 Nevada Con Copper
300 New Orleans, Tex & Mex.
200 New York Air Brake....
700 New York Central
100 New York, Chi & St L...
200 New York Dock pf
1500 New York. N II & H....
10 Niagara Falls Power pf..
300 Norfolk & Western
94
12
12
C4
39
135
13
19
14
sr
30
32
17
100
72
168
317
85
83
78
51
77
38
3fi
78
101
57
66
3
12
20
126
44
9S
24
80
81
47
18
41
26
15
45
132
78
97
30
39
84
35
43
24
31
169
110
64
129
44
32
27
59
123
198
42
49
13
72
8
25
40
64
100
71
48
65
87
119
83
80
6
16
44
107
68
27
67
26
104
96
94
13
12
64
39
135
13
20
14
S7
30
32
17
100
72
168
317
85
83
78
61
78
38
36
79
103
57
56
4
12
20
126
44
98
24
80
83
47
18
41
26
15
45
134
78
97
30
39
85
35
44
24
32
170
110
64
129
44
32
27
59
123
198
42
49
13
72
9
26
41
64
100
71
48
66
87
119
84
81
6
16
44
107
69
27
67
27
104
96
100
49
83
94
12
12
64
39
133
12
19
14
85
30
41
32
17
100
72
168
305
84
82
76
61
77
38
36
78
101
67
64
3
12
19
125
40
96
23
80
79
46!
18
41
26
15
45
132
78
97!
30
36
82
33
43
22
31
169;
110
64
129
44
32
27
5S
123
189
37
49
13
72
8
25
40
64
100
71
48
65
87
118
83
80
5
16
43
106
68
27
57
26
104
96j
83
1
n
47
96
44
45
91
116
6
53
09
136
14
05
25
113
108
14
80
06
104
3S
26
67
43
135
01
OUi
98
270
97
67
148
64
19
58
60
62
7
4
59
74
75
115
83
79
7
160
17
111
102
46
90
125
1
27
89
113
93
14
12
9
7
108
24
9
27
22
80
39
129
47
93
65
57
121
55
5
8
23
36
51
84
117
26
60
70
19
38
45
39
41
22
43
60
82
81
18
-
'i
-2
GOSSIP OF WALL STREET.
ntoeka Slide Lower.
Yesterday's market may be summed
up In words once used In official war
communiques: "There Is nothing new
to report." Stocks were unsettled for
the reason that they have been unsettled
BONDS IN NEW YORK STOCK EXCHANGE.
Friday, January 16, 1920.
1920. 1919.
Pay'a sales J13.8r0.000 JIO.037,000
Year to dato 184,939,000 115,479,000
1918.
33.619,000
64,013,000
PAPER CONTROLLER
RESIGNS IN CANADA
during all of this week, the tangled) Bid, Asked. Yield. 11,000s).
RANQE OF LIBERTY BONDS.
Closing. Sales (In
-
-
i ..
-
-2
-
-4
-
-
-2
"
- 2
-
- 1
-
- 2
- 1
- 2
n
- 1
3
1
-
- 4
rr
-
3
-
- 1
-
-'2
-
- 2
-
3
-
-
-
- 1
-
- 1
- y
-
4- Si
money situation, About tho same class
of stocks which havo shown unusual
weakness during this week wero again
unusually weak, The same band of I
bear operators which havo been plying
the whip to tho Jaded nag were In the
saddle all day, still plying the whip.
The same bulls, now thoroughly meek
and house broken, tried to stop tne
runaway and were run over, and In
some Instances trampled on for their
'trouble. But when the official com
munique, recorded nothing to report they
took no notice of the little skirmishes
which occurred here and there. The
markot was ropleto with theso yester
day. Rails started a small movement,
but dropped back, gasping, after the
effort A few stocks resisted tho trend.
In the main probably as much as 90
per cent, of the securities listed were
under Irresistible pressure. With the
public In no mood to buy, most houses
advising their customers to sell rather
than buy, and gloomy news coming rrom
right and left, It was little of a surprise
that stocks should bo pressed for sale.
o.oo
90.94
92.80
01.26
100,96
93,58
91.26
08.46
98.4C
99.02
02.60
01.00
93.10
91.28
03.60
91.28
98.50
98.50
3.54
4.48
4.65
4.70
4.87
5.09
4.94
6.17
4.20
629 3s (1932-47)
9 lstcv. 4s (1932-47).
236 2d 4s (1927-42) ....
27 1st cv. 4s (1932-47
1,509 2d cv. 4H (1927-42
.. lst-2dcv.4s('32-47
1,239 3d 4s (1928) 03,60
4,124.4th 4s (1933-38)... 91.24
1,747 Vic, 4s (1922-23)... 98.5
Open.
98.801
92.00
91.10
92.96
01.30
Net
High, Low. Last. Chgs..
09.16 08.60 09.00 .10
,28
92.00
91.10
92.98
91.34
03.62
01.40
08.58
908 Vic. 3s (1922-23),. 98.63 98.62
92.00
90.80
92.80
91.14
93.46
91.18
08.44
98.46
02.00
90.94 .06
92.90
01.28 .12
93,60
91.28 .16
08,46 .12
&S.49 .1Q
Tnnglo Over Nowsprint Supply
From Fort Francis Forces
rringlo Out.
C0NTI10L LIKELY TO END
1
1
-
- 2
VJ
6
12
82
106
204
100
50
83
94
12
12
64
39
133
13
19
14
85
30
41
32
17
100
72
168
307
84
82
77
61
77
38
36
78
103
57
55
4
12
19
125
41
96
23
S0
79
46
18
41l
26
15 I
45
134
78
97
30
36
82
33 I
44
23
31
70
110
64
129
44
32
27
55
123
189
40
49
13
72
9
25
41
64
100
71
43
65
87
118
83
80
5
16
43
106
68
27
67
26
104
96 I
-"
- 6
-
-
3
2
1
1
3
"i
'
1
1
1
1
"
9
-1
1
'i
-1
-1
-'
1
3
-2
-'
1
4
2
2
-1
u
Setting Abend the Dntr.
Any soothsayer,' forecaster, oulja board
manipulator or just plain guesBer wno
can foretell when this market will turn
can como down to Wall Street, fill out
the amount of tho check for services
rendered nnd any number of people will
be more than glad to sign it for any
reasonable or unreasonable amount, pro
vided some assurance bo given that tho
ndvance Information bo correct. In con
nlilemtlnn of the wide break In Novem
ber most of Wall Street, professional
nnd amateur, set January 1 as the
Imaginary dato on which tho decline
would end. The market did better mo
mentnrllv. and had n small January rise.
Then it started down and has been
literally on the toboggan since. Only
liArA Ann there has been a day In which
buyers appeared to be more anlous
than sellers. A few prognosticates wnu
expected tho marke". to turn when It
crossed January 1 are commonclng to
crawl out of the tall grass In which they
have been hiding during the recent de
cline. They are hesitatingly making n
few new guesses, and It la to be noted
that they are far ahead. One says,
"With tho signing of tho peace treaty,
another, "With the return of the rails
to their owners," still nnother, "When
money gets to 6 per cent, and stays
there."
Small Move In he Ralls.
One of the surprises of yesterday was
the start of a small movo In the rails
and, taken as a whole, they closed the
day at higher prices than they had
closed on the previous day. With the
whole market against them and tho
strest nlmost uniformly bearish tho
buying In this group commanded con
siderable attention and gossip. There
are many people down town firmly com
mitted to the belief that the rails will
Join, If not actually lead, the next
upward movement. Prominent houses
have been beating the tomtoms ln
behalf of this group for months and
without results. . It may be Bet down
as a certainty that there will .be no
sustained upward move in tne rails until
the present cloud of uncertainty that
envelops their return to private owner
ship Is dispelled, A few houses here
and there are of the opinion that the
rall9 can have an Independent move nt
almost any time, owing to the fact that
the conference Is making some real
progress on railroad legislation and
p'nns to report the bill out of Congress
by February 1. There Is some talk of
an Inquiry being made as to how gen
eral business would receive a suggestion
of a 20 per cent freight advance.
United States, Foreign Government, Railroad, Industrial and Other Bonds,
Itreak In Exchange.
It is probably a far fetched argument
to present the theory that the critical
situation abroad, ln tho determination
to down the Russian Bolshevlkl, will
have a far reaching effect on this coun
try. Bu the news from abroad that the
Allies are on the verge of warfare with,
the Bolshevist forces to save Poland
was undoubtedly a potent market fac
tor and was responsible, too, for the
downward swing In exchange. As one
firm expresses It, "Hanking Interests are
now weighing carefully the ' monetary
effect of the great struggle soon to begin
against the Russian Bolshevist forces, If
plans are carried out, and how far our
ArgloFrenchd
2(4 noli
10 go 3.10
o oeu
10.,,, on mi
11 eoi
i no
Ctyof Bor
draux 8.
B 021t
utTOTLvons N
B 03I
1 02U
WJ or Mar
settles 8s
8 9218
1 02U
ui or Part.
1 02lj
3 0 lj
Lnlte1Kln Ira
H 1931
10 8
23 OS's
11 BQ
3 0S3J
2S 051
0 955s
S Oil.
w
iu OS
I His 1933 rri 4
20 OS
100 04ij
a u
7 Wa
if 1931 1".
205 05
05 04!j
Srfri 1M7
18 00
3 891j
? M8
ZO 80
10 SOU
10 8U
25 SQtj
0 SO
1 8OI4
l)rmranad .v,
1921
Id 0778
6 07
6 9713
ins
1 04
1929
8 07
4 067,
17 0834
1931
22 017,
C8of Mexico 4s
1 37
Argent neOrS.
s 71
ChlnewGoTt 5.1
5 SO
Isnaneaeli"'
3 7'
li 78U
7 7878
3 78
2 785s
1 . S30...70
13 775e
Z 7S1
0 771
Jananea .d4
1 7S7j
1 7S58
14 7J78
5 78
IS 7S7
8 76
13....
8....
4....
1...
3...
lapanev- 4
1 A28
S2
1 8:
IrVyo la
1 6OI3
NY qty4K"M
t 100
3 1008 J
Am Agr cr (a
8 0W4
Am Agr deb ts
3 nil,
AmSmeltARas
8 ssls
20 83
AmTAT cv
31 051s
8 093
0 OOI4
A OCls
IS 90
AmTftT cli S
3 S2lj
2 82
2 82'
AmTT cir 4i
1 787s
16 70
AmWrltlngP7i
1.......83
AnnArbor lst4s
Sl't
At nour 4
1 (31)
1 03
4 A3I3
A Tit SF gen 44
3 70
1 7S75
1 781,
S 7834
1 73
2 7834
AT & IF ad) 4t
1 7078
3 70
rlimrjed
3lj 70(4
1 7018
Atl O Lice 4Ui
1 70 Js
AtOoajtUn-K
S 7894
At (J Una r 1
8 70lj
rt 70
Ball tc Ohli 94
2 to
1 899g
z ..so
R rV l t 1"
s 6Ma
5 "A
8 65' j
O 03
17..,
1
...S8
BS
631
u cv i n
, 82 U
0?
.8)13
.81U
.6214
lUVU , u" I
2 6Slj
.85
I..
10..
1
.75'-
.7511
..7S'
..7Sl4
..751a
7S'J
NY aty4Ks57
ffOY
2 100
NY atT4Ks5
25 lOOt
NV aty4Msl
20 041
NYdty 4Hsf
3 OSU
8 65U
2 S
2 8SI3
NsltAOhln 4.
8 8
BaltAOSWJH.
2 7S
Beth Stl fde
8 88
lleth Stl Ik ISt
1 8534
Dway 4 7Av en
S 60
kin Kap I
10 48
ULn t'n Kl 1st
...t2 Colo South 44
Bufflta Pitts ts
OA o t
8 70b
S 7018
0 T99s
O 4 O cv 4H
13 7MS
1 78l
3 763)1
3,..76lg
' hM f H.
10 78
1 781,
raliAlton 'W
2 31fj
BU ietn'
8 OS3
3 11SV
0 951
3 05V
1 OSU
CMl4y em 1
10 80'a
ChlB&Qtli 3l
3 73i
2 7434
Chllnd&Lou 6a
1 07
CM&StP cv 5s
3 (17U
2 A834
17 87l
OM & 8C P em
4fe
10 775
O M A St P CV
4Ms
6 18U
8 88
1 8l
8 88
1 00
C M A St 1' M
Ufa
2 685
OM1II A St P 4s
, 1933
1 701
4 71
2 72'
10 717g
Chi till tc St I'
OJcPW
1 075a
2 071 1
CAN WgmV
4 07
2 06I
Chi & NW SU.
1 877r
rh'KIiPKr I
4 74
1 74U
2 731
OIRIAPre"
3 861
1 88
2 88' 1
1 6638
rhl it w md
6 59
Chile Conner 7
11 106.
' hMe Copper
...70
...80
...SOU
...80
...7-7a
...79
...80
CC&fltLrmi
1 835a
831
Colo Inroltr
8 737
Col So ext 4U.
0 738
10...
1...
1...
2...
13...
S3...
33....
2 01
en: of Oa I ;
2 03lJ
Cen Oa n 5s
8 T.88
Cen Leather 5s
6 0 Is
6 OS
Cent Pact lie 1st
O 7S'
J 7698
Cent Par SL 4s
1 70
Chea A Ohio 5s
4 OSU
1 04
8 8SIR
ComTabRec ea
...8
Dcl&lfudreMi
6 7038
Men A Itio l I
68
3 861a,
1 6Vfe
3 6
Den&RO ntSu
17 4
4 44U
Det Ed la 194)
6.......8O1
r.rla 1st con i
3 S3
Erie cv ts see A
6 18
fx cr 4s srr B
1 8jia
KHerrssaer I)
3 88ii
1 38S6
Ifna gen 4.
8 407g
,1 4IU
rtocU Val 4
HiiiVVm fda
5. Ferlea A
1 5038
11 6OI4
Hud&ManadJ
6 151
imi unionism
1 o:i
1......933S
III Cent 4s 1931
3 7234
tninoL. )ti m
0 8378
JndlanaSteel M
X 0234
intern " T
6a 19U
1 s:i
17 62U
Interboro-Met
col trust 4H
12 IS
18 18I4
10 171
1 11
certificate'
8 1734
11 171
"i alarm
83 04
2..C. .0498
8 04
lows Cen 1st 5s
3 701
KCFtS n lit
4 GO'S
KIPta A M 41
1 681
Z OS
8 871
Kan O So ref Si
4 7378
Kan lty fn h
1 673s
Ken O Ter 4j
7 74 14
Keok&DeaMlst
2 88
Lack SU 6a 195)
4 04
4 03's
LS& II Ufa 1911
2 83
1 S37
1 84
Uggett A M 7i
2 108'8
Liggett 4 Ml!
9 83
Long Islin 4s
2 88
Lou A N StL3
1 S178
yidraleSt i '
1 8S8
3 84
S 84
1 3l
2 84
JloKlt Tsf 4Hj
riilic
1 23
I'a- gm 4
5 67
UilO new ts
1 1021
llont I'wr
8 8414
2 83
.Nat Tube 5s
4 02!
ewOrlTeriM
1 841
M) Tex A At
2 65
64
1 S3
1 deb '
11 02
12 M2U
1 Ol'a
1 ujU
N Y Cen cor. 4'
S 68lj
V fens'
10 071
1 8733
87
NY Cen L8 IH
1 02
NY Gas XLt II
A Pts
8. . 85
NYOaa KLl II
P4a
1 83l
N Y It II II
cv ts
4 Tl
N Y He. ref IS
certificates
IS 23U
.SY 'Jolenn'4,1
2 801)
2 SOU
8 801s
1 80
N Y Wretch .tf
I'tston tli!
0 37
Norf&W 4.
1 77
North Pac 4Hi
0 80 Ss
2 1034
Northernl's- Is
0 77
4 761
1 77
2...'.. ..7834
Nnrthcrnl'i" 3'
4 55
8 15' 1
Nor States Pr
1st M Ser A
1 81
Ont Trans 5a
2 75
Or h L Idr 4
2 8378
'Vnna 5. W
1 0138
10 01
3....I..9U8
16... ....0034
enngm Us
3 82li
Penna, 4Hs 1931
8 0758
I'rnna 4H "U
1 014
Penna 4s 1913
1 83)8
Pub Serr Corp
ol N J Si
2 03
f esdtar 1 r '
1 707
4 7094
1 70
1 7034
2 70 .
RepI&S 5s 1919
) . ...04'a
RocbAPItta 1st
1 101 lis
RIArli&La tWs
8 02fa
! tlA Irons! 1.
10 741
t LA Iron M
RIT Oulf -
3 80 1
11 OO'B
5 68.
tl 4t e'an
croa A
21 6
1 67
tl. A ' anKr.
adit
2 601s
18 60
5 eoJs
2 bOl)
StLAflanfrin
DC 01
6 4134
1 41 ,
7 41
13 41'A
8 41U
3 41I-.
icioto VAN Kilt
8 71
rrbd A I d
10 3S
J 381s
8 3U
O 38
3 37U
IFJW con 41
8 81
rabilAI, refit
1 477a
24 ,48
3 48
1 4734
"otttUHs" "T If
3 103
3 10231
8 l')3
8 103U
outhPaccr 4
1 801
I.,,c..,R07g
10 808
33 801
10 8034
1 101
6 80?8
'(Hthl'acr"' "
1 7838
20 781
Mith l ac 'i
8 71
'Mithera Bv Is
10 85
' th H 1 re tl
17 '07
Tenn Copper ts
4 wns
Term Rn Asia
of St L i
? 705$
Third Are 5
14 84
ItilnJA, ad 1 U
" 20
ToIAOO gm 5s
6 70
Tri-CityRAL5i
1 91
I'nl'ac lo-jrr i
3 10134
0 10.6a
UrlonPaclflcti
4 847a
6 84'
3 81
llnlonPacrv 11
0 C07g
10 801
4 86's
1 87
Union Pac ref 11
l......78lj
Un ft.H St rdi
Un Trust ctfi
2 28!)
DnltedBylnvJi
1 75
DMtealD.VI
1 807s
2 81lg
12 1014
10 SOU
1 80 1
J 80 "a
1 80ls
1 80
29 80
1 SOIs
8 70 '8
2 701a
U S Rubber 6s
8..
8..,
4..
B.,',
1.
87lx
....87lg
7U
tee ' 1
....90
. ...008
1 OflU
1 09
1 90U
Utah Power
4 841
Va Caro Ch 61
1 101
.rrlnlan Hr
6 841
"abash ll
7 80 "
Wabash 2d
2 80'
Um Mil
2 51 )
19 51
HestPar.flc lis
4 84a
Wllaontfn u
S 08
Wilson o ct
1 Oil
2 ena
1 951
BID AND ASKED QUOTATIONS.
N. V STOCK KXrilANOE tiUOT.Vl UK-is.
UNITED STATES I'-OVERNMENT BONDS.
- 1
2
8
3
1
1
1
2
1
2
Continued on Following Page.
:s, registered
Is, coupon
is, registered
4s, coupon
!s. Panama. 1930. registered.
2s, Panama, 1936, coupon....
2s Panama. 1J3S, registered
own resources would have to be regal. I aSS!:::
u..,u,,u, itirutctu j I,,.,,,, uui 38i Manama, toupon.
nnanciern mucn concern." Sterling
touched 3.68 for demand and 3.6i
for cables. Francs were slightly lower
nt 11.61 for cables and 11.63 for checks.
Lire wero steady at the previous low of
13.68 for cables and 13.70 for checks, and
marks, at 1.78, were slightly Improved.
Things Wall Street Is Forgetting.
In the heltcr skelter scramble to sel
stocks, particularly thoso which have
proved an unstable underpinning. Wall
Street Is letting some factors become
crowded Into tho background, factors
which It Is well to keep ln mind, even
when Stock Exchange prices for securi
ties are slipping downward point by
point. One of these Is the fact that tho
United States Steel Corporation lnsth'
largest booked tonnage at the present
time that it has had since the war wis
at ItH height The demand for building
materials, merchandise and many other
ommodlties exceeds the supply. Another
factor to bo given consideration Is that
when liquidation, now being forced in
commodities, real estate and farm lands,
bo completed, tho United States will un
doubtedly havo a healthy credit situation.
- Selling International Stocks.
Weakness was conspicuous yesterday
among the so-called "International
stocks," which -are mediums of trading
ln this country and abroad, and gave rise
to the generally expressed belief that thi,
Bolshevist scare Is taken more seriously
abroad than It Is on this side of tho
Atlantic Royal Dutch and Shell Trans
port, which have held well during the
recent attack on the oils, were particu
larly soft, as was Canadian Paclfl;.
There undoubtedly has been considerable
foreign liquidation In securities since tho
turn of the year, but It has been very
evenly distributed and has not caused
any great amount of comment. London
wjs reported purchaser of Royal Dutch
and Shell Transport on the way down In
this market jesterday for arbitrage.
nrltlah-Amerlrnn Tobacco,
Announcement was received hero yes
terday of a declaration In London of a
Ilnal dividend of 6 per cent, on tho or
dinary shares of the British-American
Tobacco Company, tree of all British
taxes. In addition It was announced
that tho company would pay a 1919
1920 Interim dividend of 6 per cent, on
Its ordinary shares. A plan for a read
justment of Its capital has been decided
upon, It was learned. Involving an In
crease of 5,500,000 ordinary shares,
which, with other unissued shares, will
be offered to present stockholders of tho
ordinary stock of record on January 2S
and Boldlers" sharo warrants to bearer
ntd.
.10)
.100
.1034
. W4
. S9"i
. 93Mi
. 99
. 88
. S8H
. 93
. 92
. 93
. 97
70',
97H
Phil Isl. land purchase 4s, 1934...
Phil. Isl. public works, ts, nun...
Phil. Il. public works 4s, 193...
District of Columbia !-C3s
FOREIGN BONDS.
Anglo-FVcnch Extern, ts, 1930
Argentine Intern. 5s, 1945
Canada, Dominion of. notes. 1921..
pqnula rinmlnlnn af 5s. 1921
cniiln. rtnmtnton of. 1926 944
Canada, Dominion of, 1929 96
Canada. Dominion of. 1931 i
Chinese Gov., Hu Kug Ry. 6s. 1951. M
Cuba Extern. 4s, 19............ 91
Cuba Extern. 6s, aeries A, 1949 84
r,ihn Extern. 4s. 1943 7o
Dominican Rep. 5s. 1938
City of Lyons 15 yr 6s, 1931
City of Marseilles 13 yr, 6s. 1934...
City of Bordeaux 13 yr. 6s. 1934
French. Paris City 6s. 1921
Japanese Gov. tVjs. sterl. loan. 1925
Japanese Gov. 4Hs, 2d eorlrs. 1925...
Japanese Gov 4s, sterl. loan, 1931.
Japanese. Toklo City 6s 1953.......
U. K. O. D. A I. 6 T. 64s. 1921...
U K. G. n. A I. 3 yr. 54s. 1922...
it K a n. A I. 10 yr. 64s, 1929...
U K. O B. A I. 20 r 54s. 1937... 89
Mexico Extern, sterl. 5s of '99, 1945 . 33't
Mexico Extern, gold 4 of 'W, 1931.. 26
Ask,
1034
1W4
1064
1064
lOOVi
lOOSi
lCKHi
100'i
M4
904
96
96
96
924
924
924
92
m
75
614
694
934
94T4
94',
71
n
9S4
9474
9STi
924
604
924
87
754
86?i
MS
92H
92H
924
77 H
754
629,
61
H
954
934
894
40
37
Closing prices of stocks In which there were
no transactions yesuruay;
Hid.
Adams Exp 304
Advance R. JJ
do pf T0U
Al Ch M Pf !S4
A A Chem 90
Alh A Susa
Am II S pf. M
Ask.
32
414
714
894
92
ISO
91
Am Bk Sh. 8!U 14
do pi
Am C F Pf."'
Amer Coal 71
Am Cot Oil 604
do pf......
Am Ice pf. 62
Am Line pf 914
Amer Ship. ..
A Smelt pf. 99
Am r Rec A 81
A St Fdy Pf 93
Am Snuff...t07
do pf 86
Am sup nf.118
A Wool pf.1034 10)4
ai Coast Li. Wl '
AG41VI pf.. 71
Auto 8 pf.. a
BarnettLpf 914
Barrett Pf .110 ,
Beech Crk.. 264
Beth S 7".. 96
Bkn Edison 91
Ilkn Un Gaa 61
Brown Shoe.103
do pf 99
1884
117
75
61
90
er.
M
128
1004
83
934
112
874
1154
74
32
96
113
27Vi
10O
95
58
106
103
Bid. Ask.
Buf A Susq ..
do p(
Burf RAP 454
do pf
Burns B pf 99
Bush Term. SO
CalPack pf.llT
Cal Pet pf 744
Cat A Aril. 64
Can South. 414
Case pf
Cent Fdy... 20
C Leath pf.107
CRR of NJ.173
CS A Tel,. 114
Cert Pd 1st 864
do 2d pf.. 74
Chi A Alt.. 7
do af 84
Chl S EI ct 4
(' Pneu T... 93
C St P A O 53
do pf 90
CCCAStL... 63
Clove&Pitts ..
CI Peabody. 96
,ln nf . 102
Col A S lpt 60
Co Grph pf ..
Comp Tab.. 63U
Con Cigar. 60
Con Gaa B. 99
Con Can.... 86
!0
5414
.V)
100
no
100
126
7t
63
M
100
33
108
210
116
90
10
15
3
100
69
105
67
SO
94
109
63
93
&3
624
102
89
do pf 1024 106
Bid. Ask.
Con Coal M
Con Insur. . SO
(Vex Carpet 50
Cub A Sug.3"
do pf 100
D l, It W...laJ
DfCIT pf ...1004
Det Edison. ..
Don & R O 64
Dct&Mack . ..
Det Unlted.VO
Dtam'nd M.113
Dul SS A A 3
do pf 5
58
S3
60
400
107
191
106
113
9
83
101
4
10
Durham pf.1014 1034
Elk Horn F
Elec Stor...l2S
Etner Bran. 28
do pf 85
Endic J pf.1024
Erie&Pitts.. ..
Fed M A S. 10
Fairbanks.. 754
do pf 95
Fisher Body.120
do pf 9!4
Gen Chem.. ISO
Gen Clgs pf 95
do den pr 53
27
m
30
89
10.14
70
11
81
130
101
195
100
34
Goodrich pf.100 10UJ
Gray AD.. 44
Gulf MAN.. 7
do Pf 30
Gulf Stl lpf 96
Harr pf 1134
Homestake. 67
Illinois Cen 8S
Int Agr pf. 79
Int Mot Tr.123
Int M T 2pf 72
Int Nick pf SS4
Int Pap pf sr.
do pf tt.. 77
Int Salt 71
Iowa Cent.. 4
Kayser 110
do 1st pf.110
Kel Sp T pf 93
do 854 ....1034
Keo & D M 3
do pf 16
Kresge S S 125
do pf 105
Kress S It.. 76
do pf 100
Laclede Gaa 3S
Lake EAW. 8
do pf 13
Llgg A M..200
do pf 1M4
Loril'rrl pf.110
Loose-W.... 68
do 1st pf. 99
do 2d pf..H2
Man Beach. S
Mackay 66
ManSug pf.102
Marlin R... 63
Math Alk.. 31
May DS pf 106
Maxwell.... 31
Mex Tct pf 10)
Miami 23
Mich Cent.. S3
MSHM nf... 91
MSSMLL... 65
M K A T pf 12
Mo Plow pf 91
MulllnsB pf 98
N O tc StL.107
Nat Acme. 36
Nat Ills pf.llS
NatE&S pf.101
46
7
32
97
114
70
894
81
133
73
904
107
115
118
100
103
44
30
1334
108
90
110
60
11
18
210
111
112
684
100
113
24
72
1024
70
36
107
22
105
214
96
62
14
100
113
37
116
103
Bid, Ask.
V)
1024
109
18
WA
70
48
41
17
12
70
50
1004
100
50
100
60
40
704
SIC
41
964
It
65
N Clk A S.. 76
do pf 100
Nat L1 pf. ins
N Ry M Hit 11
NY Lack AW ..
NYC&SLlpf
do 21 pf.. 43
N Y Doclt. 42
NYCAW. . 16',i
Norf & So. II
Norf&W pf. 68
Ohio Fuel.. 4S",
Oils Stl pf. 98
0f ns B pf n
Pac Coast.. 33
do 1st pf. 60
do "d pf.. 43
Tne T tc T 37
do pf 70
Pan Am pf.176
Paris to B. 43
Penney Co.. 94
Peoria A E. 12
Fel-Mul.... 33
do pf 10)
PCC.tStL... 53
TittsCoal pf 93
PFWiC pf.122
Pitts Stl pf 924
TAWVapf. 78
Pr St C pf.101
Pub SerTlco 63
RyStSp Pf..l04, 106
11 uuicn.M 4J
Ren & Sar..l02
Read 1st pf 34
Rem 1st pf 99
do 2d pi.. 98
Scab AL pf 14
ScarsK pf.H3
S'oss-S pf .. 83
StLiSFpf. 214
St L SW... 13
do rf 23
Sliattuck... 12
S Porlo Sug 220
do pf 110
Stand Mill, till
do pf 85
Slip Stl pf .101
Tex racLT315
Tule W 011.215
T St L A W' 6
do pf 13
do o 10
do p 0.... 19
Twin City , 31
do pf
Underwood 175
do pf 106
Un B.iglP.. U
Un Clg Sts.123
do pf 110
I' Drug 2pf.l30
17 S Expr. . 30
USCI Pipe.. 21
do pf 62
US InAl pf 102
Utah Sec... 10
US Smelt pf 4b
Va-C C pf.,110
Va-I CAC. 50
Wab pf B.. 15
West 1st pf 63
West M 2pf 16
West P pf. 60
Wilson pf.. 974
Wis Cent. .. 28
Woolworth 126
do pf 1124
Wthgtn pf A 92
Ex dividend.
67
93
93
79
104
3
117
39
101
100
IS
110
9.1
26
134
28
13
210
113
130
92
105
600
230
12
24
12
21
34
96
180
115
53
223
140
31
224
614
104
10
17
112
82
15
66
13
63
99n
32
12 i
115
93
Now System of Taxation of
Mills Is Suggested as a
Substitute.
ftti it Ktnrt PAMMtinndAtlt Of TBsl.SOIf.
Montreal, Jan. 16, Robert A. Prln
gle, K. C, the paper controller, lias
1 1 m it. iirii. a 1111 pun a 1 wiivm 1 i
company tnnglo and the nrm aiuiuur.
taken by Sir William Price have forced
tho situation. The Federal Government
purposes kouwe wuy uih i.i'
trol and will allow tho nowapapera to
shift for themselves.
The existing price of $80 a ton holds
a .,. v aa 4 T, la rlnflht
gooa until uuno uu nci. w
ful If another order of the kind will
bo passed. Controller Trlngle. It Is
acknowledged, has followed a policy of
conciliation nnd fair dealing. . . .
Tho output of the Price Bros, mill at
Kenogaml, Quebec. Is 250 tons dally,
and it will be doubled during the yenr,
all for export trade. Inquiry has been
made of Ottawa from Washington as
to the partial embargo of newsprint.
This artificial situation ennnot be al
lowed to continue for the benefit of the
Binaller Canadian dally papers, which
are chiefly rcsposlble for the difficulty.
Tho mills have assured them that there
will be no difficulty on supply If price
control Is set aside. Yet they hesitate
to ralso advertising and subscription
rates, even though conditions are favor
able and plenty of money is In circula
tion. It Is proposed that In lieu of direct
paper control as at present a new sys
tem of taxation bo Imposed on paper
mills. Where tho forests are leased from
tho Federal Government there Is no dif
ficulty, but Crown lands In Ontario, Que
bec and British Columbia belong to the
provinces.
With Increased capacity for produc
tion according to plans for 1920 both
American and Canadian needs can be
taken caro of next year. The policy of,
tho Canadian mills with only two excep
tions has been to pursue a discreet mod
erate policy on price and treat American
buyers fairly.
wnDTUUrcT pnt irF.
RUSHED TO MILLS
Disorder Over Shipments
Winnipeg Papers Suspend.
Special Despatch, to Tan Sex.
Winnipeo, Man., Jan. 16. A detach
ment of twenty Northwest Mounted
Police has gone to Fort Francis, On
tario, to assist the Sheriff and the Paper
Comptroller's representative In enforcing
order at Hackue Mills, so that a suf
ficient supply of paper can be forwarded
at once to western Canadian newspapers.
Arrangements have been made so as to
avoid sending supplies through the
United States by a connection with tho
Canadian National Railways.
Because of the shortage of newsprint
the three dally papers In this city an
nounced to-day that they would suspend
publication to-morrow. The three edi
torial staffs will unite In Issuing a one
pags paper containing only tho most Im
portant news, which will be mailed to
country post offices and placed on bul
letin boards there.
NEWSPRINT FOR U. S.
STOPPED AT BORDER-
Papers on This Side Threaten
Big Damage Suits.
Ottawa, Ont, Jan. 16. Shipments of
paper from the Fort Francis Pulp and
Paper Company to American publishers
are being stopped nt the border. Sir
Henry Drayton, Minister of Finance, an
nounced to-day. Tho embargo against
the company was put ln force by Robert
A. Prlngle. Paper Comptroller, as a re
sult of Its alleged failure to supply
papers In western Canada.
A newspaper In Chicago and one In
Minneapolis arc considering bringing
damage suits for $1,000,000 against
Canadian officials because of the em
bargo, according toan announcement
to-day by A. D. George, counsel for tho
Fort Francis company. Mr. George said
he understood tho two papers had noti
fied the Minister of Customs at Ottawa
that they would hold him personally re
sponsible for damages through failure
to recehe paper,
PAPER GOES UP 20 PER CENT.
Cost of Ilnvr Mntcrlals nnd Labor
Given an Itenson.
Holtoke, Mass., Jan. 10. Ap Increase
In the price of paper amounting to 20
per cent, was announced to-day by the
American Writing Paper Company, ef
fective January 19.
The reason given Is "the advanced
and advancing costs of raw materials
and labor, and the operating exigencies
with which tho fine paper Industry Is
faced."
Decree Hnrn Monday Papers.
Madiiio, Jan. 16. Sunday newspapers
are prohibited by a decree signed by
King Alfonso. The decree will not come
Into effect for fifteen days, and In the
meantime may be modified, as a number
I of. newspaper proprietors have made
1 suggestions that are being considered
I by tlic Government.
BANK OF ENGLAND TO
j STORE BRITISH GOLD
1 ,,
Move Improves Rates of lie
serve to Liabilities.
URGES SAVINGS PROTECTION.
Glass Plead for Safeguarding of
New Investing I'nbllc.
Carter Glass ln the current Issuo of
the Journal 0 the Amrricrm Bankers'
Ajjodatloti, urges on banking Institu
tions the necessity of safeguarding the
"new Investing public" which has taken
for ordinary shares of record of that ' mininns of dollars worth of Lib-
date, for subscription at par In the pro- the 8CaIper or ,ho ln.
portion of a new share for two complete crl """" . . , . ...
ordinary shares. The company reports vestment company of dubious reputation
for tho year ended on September 30 net and devious business mctnoas.
profits of 3,776,507, against 3,140,174
In the preceding year.
Tho Government savings movement,"
ho points out, "has two objects to stim
ulate saving and Investment ln the War
Savings securities and develop and pro-
London Wool Market.
TiMnoH. .Ian. 16. At tho wool auction tort tho secondary market for the Lib
sales to-day 11.300 bales wero offered, crty and Victory loans and Treasury
Merinos were steady. America bought certificates of Indebtedness. In connec
11 few of the best. Cross breds were Hon with the second object also the
Irrerular JUnks and trust companies of the coun-
try can obviously bo of the greatest as- 1
slstance. They can by advice and coun- 1
sel promote the holding nnd purchase of '
Government securities and offer facili
ties for their purchase or sale under '
proper conditions. Such service meets
two present needs to protect Inexperi
enced Investors from swindling schemes .
of fraudulent stock vendors who are j
profiting by the present tendency to
reckless speculation and provide such In
vestors with reputable means, readily
accessible, for purchase or sale of Lib
erty bonds and Victory notes on fair ,
terms.
"At present too many of this new
Investing public fall Into tho clutches
of the scalper or the Investment com
pany of dubious reputation and devious
business methods. More energy by the
banking Institutions ln these directions
should, among other results, have the
consequence of securing tho desired dis
tribution among ultimate investors of
Government obligations now held by
the banks." I
Specfal Ca&fe Deipatch to Tnn Scs.
London. Jan. 16. The Bank of Enir
land has started a movement to c"
trallio all gold In the British IslandsTn
Its own vaults. The movement began
this week by tho withdrawal of three
millions in goia irom me joint stock
banks which, with the reduction ln cir
culation, caued an Improvement of four
points In the ratio of reserve to liabili
ties. The Joint stock banks. It I3 under
stood, have about 35,000,000 In gold
remaining, which radually win be
transferred to the Hank of England,
causing another rise In the ratio.
Tho flotation of a new Issue of ex
chequer bonds announced last night Is
strictly a refunding operation and will
havo no effect In reducing the floating
debt or contracting the currency.
Oversubscribe Australian Loan.
London, Jan. 16. The western Aus
tralian 5 per cent loan has been over
subscribed within two days after open
ing Us subscription lists. Other recent
6 per cent, loans aro several points
above their Issue prices.
M
"rnrMfirr-friihTiiiMi

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The sun. [volume], January 17, 1920, Page 12, Image 12
About The sun. [volume] (New York [N.Y.]) 1916-1920