The sun. [volume] (New York [N.Y.]) 1916-1920, January 17, 1920, Image 13

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The sun. [volume], January 17, 1920, Page 13, Image 13
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-13/>

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P!wREfFICIMiS
THE SUN, SATURDAY, JANUARY 17, 1920.
13
,WjU1, Ponttauo fiojlcy of Cur
tailment In Direction
of Deflation.
PAIili INSTITUTION 1IEAD8
.Ordoroa to Out BciWc Banld
. . i
jjorrowmgg. wnon Twico
Capital and Surplus.
F
IV I
i
At (ho closo of a turbulont wool- In
finance concroto evidence was obtained
m jroaterdoy . that liquidation has by no
yHieajw.runs Its course nnd that tho,policy
oi .euroilmont o loans ,tn the .direction
donation .must be continued until tho
margin between tho, roof of .Federal re
serve bank lending power and a com-
portable banking position Is rroatly
widened.
Here nro sorao of thefact sleaned
yesterday: 1. Tho Federal Koaerve
Bank of Now Vnrlr hnA nn thn nnrnflt
L WvJwaas of Institutions borrowings of
5b, W "which from that bank were twico tho
m, comoinnu capital ami surplus ot every
tm nucu institution or more nnd told them
' in rrf I.aIai.. 4l.n. IlL.I. .,.,.... n.l.nf
tho cost. 2. Tho financiers returned
from tho conferences, .which were ex
tremely private, In n chastened mood
nnd proceeded to .carry out tho orders.
3. Compliance with tho orders was Im
mediate, owinjr to' tho powor of the Fod.
era! Roeorvo Bank" to deny tho redla
countlns privilege at Its own discretion.
4. Liquidation occurred It tha stock
market and tho bond markot, Including
Liberty bonds, In silver, grain and cot
ton and foreign exchange, with a C9n.
fl.'dcrablo lncreaso Jin .tho premium of
tho .dollar. C. The prlco of gold -rose
In .London to an unprecedentedly .high
record, with the United States the un
doubted purchaser of 'tho cold on .ac
count of pie depreciation of ,the pound
sterling ns expressed In terms of tho
dal'ari G. Tho Clearing House Associa
tion's members voted' unanimously to
limit Ui6 maximum rate to bo paid ion
.any credit balance, outsldo of mutual
savings bonks, .to 2 per cent, thus
removing the last .obstacle In .the way
of iv j-Iso In rediscount rates. 7. Banks
Anticipated a rise In tho rediscount rato
w jo ilia per cent, or Higher by cnarglng
TOW 6 ccnt- cn tbeIr discounts.
ll' "Jlbs-r Dim to Dron flnlil Hlnmlnril
"The whole situation 9an be summed
up In two words: 'gold and psychology.' "
said a prominent banker yesterday.
".Either the entire, banking situation
must be deflated, which Is being accom
plished In part by the effect of psy
chology and In part by the Clearing of
the path toward a rlao In rediscount
''Stt rates, or the gold standard must bo
rtvuiuiuvueu.
"The dilemma Is an obvious one, and
In my opinion the Federal Reserve
J)
illations ishould not Increase with on
lncreaso In the Federal Reserve llanls
discount rate for .ninety day papor
beyond a maximum of 2 pet cent
Tho amendment follows :
'.'Section 1, No member .of this
association, .or bank or trust com
pany or others clearing through any
.member, shall.agreed to pay, or shall
pay. directly or Indirectly, on any
credit balanco payable on demand or
within thirty days, cr certificate of
doposlt so paable, by Us terms,
Issued to or for tho account of any
ibank (othor than a mutual savings
bank located In tho Becond Federal
Reserve, district), trust company or
other Institution conducting a bank
ing business, or private banker or
bankers, located In tho United States
or Dominion of Canada, Interest at a
rato In oxcess of 1 per cent per
annum when the 'then ninety day
discount rato for commercial paper
at tho Fcdoral Resorvo Rank of Now
York Is 2 per cent or less, and nn
additional ono fourth of 1 per cent,
-for every wo half of 1 per cent, thut
.mich discount rato ot 'the Federal
Reserve Bank shall exceed 2 per cent
.except that tho, maximum rato paid
or ngreed 40 bo paid on any such
credit balanco, or certificate of deposit
shall not In any cose bo higher than
2 per cent per annum; nor shall
any member, or non-member clearing
through a member, jay or agree to
.pay on any like credit balance of, or
Hk6 certificate of deposit Issued to,
any mutual savings bank located In
tho Second Federal Reserve district
or any person, 4orsonsi copartner
ship, corporation 07 association, other
than those specified nnd Included
above, Interest at 'X higher rate than
3 per cent, per annum; nor on any
tlmoidcposlt or ceiililcato of deposit
payable by Its terms.lator than thirty
days from tho data thereof, at a
higher rato than 3 per cqnt. per
annum. Tho .foregoing provisions nro
not Intended to apply to tho account
of, or any certificate of deposit
Issued to any person or persons resid
ing and transacting business In any
foreign country other than tho
Dominion of Canada, pr to any cor
poration, association or copartner
ship organized and located .therein,
,nor to affect such Interest rates as
re or may be flxed or 'regulated by
law."
GERMAN TRADE IS
BRITISH PROBLEM
Question -of Unglisll Attitude
Is Insistent and Not Eaay
to Settle
OFFER ORPHEUM CIRCUIT,
BRITAIN SEES HER POWER
Discussion Whether to Aid
Gormany or Lot Her JVork
Out Salvation Heard.
RAIL HEADS ADOPT
COMLIATORYM
Association of Railway Execu
tives Docido Policy on Sec
tion 6, Cummins Bill.
Tho standing committee of the As
sociation of Railway Executive in a
protracted meeting .held yesterday In
61 Broadway, decided to adopt a con
ciliatory policy bo far as section C of
me uummlns bin was concerned. "While
nothing came to a head so far as a
pro nnd con .stand on the section which
'Would -limit a refisonnhln nrnflt in nn
Beard 3as made a wise .choice In thciavcrare of ZV, ue.r ,,nt nf ih. .n.mn
decision to bring about deflation. At this 1 property Investment in a .district with a
point I would not say that the situation ('division of profits in tho case of any
hi
la sortous, nor would I say that care
and conservatism will cot prove a sound
corrective, but tha jperiod of correction
must co odurad.
"The action la not directed primarily
at the security markets, .but naturally
they are .the first to1 receive the blow.
Tho break In sterling yesterday wassluo
' to a llshtonlng of the load of commercial
bills carried by banks, sterling exchango
dropping n fraction abovo the cx
'tretne' low record of $3.6651, with tho
trend of all the ccchansear In a down
ward direction.
"Two of the biggest factors In the
outstanding loans of tho banks are
paper representing exports of goods
abroad, which were not financed by
. United States Government credits, by
sale Of foreign bonds In this country or
In the foreign exchange market and
paper representing tho purchase of Lib
erty bonds. Tho liquidation of the Joans
- ori Liberty bonds or with those bond3
ns collateral has led to a marketing ot
these Issues 'with a depression in tho
current values of .Liberty issues.
"The liquidation of the paper rep
resenting exports Is going to be a slow
nrocess Indeed. A .portion Is being flung
I'fcjyWVin the exchange market with a decline
, !n .rates. It will be. recalled that uo to
the end of December our exports were
' about $5,200,000,000. Against this the
United States Imported about $800,000,
000 worth of goods, the United States
Government extended about $1,750,000,
000 of credit, and the new money from
forefgn loans and foreign exchango
- nalea accounted for about $600,000,000.
That left a load of some $2,000,000,000
; spread on banks throughout the United
I 'States.
overnnicnt Credit Exhausted.
"Tho United States Government cred
it la exhausted for all practical pur
i poses. The foreign exchango market
. shows that It cannot absorb much of
tho paper representing new exports and,
while tho Belgian loan of $25,000,000
was a success, It remains to be seen
how much can bo raised- from the sales
ot forelpj securities to the American In
vestor. "In consequence It is my belief that
our export trade my3t ceaso to the
smallest minimum limits. Under the
' circumstances It la no wonder that the
Federal Reserve Board has decided to
draw In the horns of credit and the
nows that banks which have borrowed
from the reserve bank twice their capi
tal And surplus or moro have been re
quested to cut down these borrowings
,, Is no surprise to me. I heard that In
a few cases statistical experts of the
Federal lleserve Board had within the
. last few days been examining tho loan
flgurea of certain Institutions, and the
policy of curtailment I believe. Is being
.carried on wisely and impartially."
H In view of the financial developments
an' Interesting transaction yesterday was
the renewal of $42,500,000 of Ford Ma
tor Company notes n a 6 per ccnt.
basis. Tho renewal waa for a ninety
day period and at tho end of that period
tho- outstanding notes must be reduced
and the balance will be extended for an
, other ninety day period, when all mart
bo paid. The Chase Securities Corpora
tion, Bond & Goodwin and tho Old Col
ony Trust Comnany of Boston originally
marketed $75,000,000 of Fprd Motor
notes. At thd time of tho first renewal
road which earned more than that per
centage, u was ascertained that the un
qualified opposition of some of the
stronger roods to any earning limitation
was- toned .down and tho hope wa? ex
pressed that the association -would bo
ablo to present a united front as re
gards its attitude toward tho Cummins
bill.
Following the moetlng of railroad ex
ecutives no formal statement was Issued.
The only concrete action, It was stated
by a spokesman ior the .association, was
he grant of authority to Thomas Do
witt uuyier. chairman of tho Associa
tion of Railway Executives, to hold con
ferences with any other organization
which desired them for the purpose of
agreeing, so far as possible, on railroad
legislation.
Tho rate committee reported progress
"to the standing -committee, but it was
declared th3t no statement would bo
made at this time as to how much of
an Increase in rates was desired or aa to
tho plans of the committee.
Interviews with railroad presidents
and chairmen following the meeting
gave a more hopeful tone regarding a
united front for the association as to
forthcoming legislation, and the best
opinion seemed to be that tho railroad
men would be willing to accept tho best
legislation now In process of consum
mation. If so, the divergent elements
lnthe standing committee have been
obliged to recede from an uncompromis
ing position. It is still the hope of tho
railroad men that tho Cummins bill will
be so amended that every railroad In.
every district shall bo assured of
per cent on Its property investment,
with ono-half of 1 per cent for main
tenance, with a lessening of the spigot,
drain on earnings of more than that
percentage. '
Paris Donne Trading.
Paris, Jan. 16. Prices were steady on
the Bourse to-day. Three ner cent
rentes, C8 francs 70 centimes; exchange'
on London, 42 francs 89 centimes; 5
per cent loan, 88 francs E0 centimes:
dollar, 11 francs 56 Vi centimes.
FINANCIAL NOTES.
Eankers Trwt Company haa been .np-'
Spirited registrar ot United Chain Bulla
Iks. Inc., preferred and common. "
SImm Petroleum Company's directors
havf approved the contract with Booth
& Flmn for the Immediate conntruetlon
ot a 500 mile etandard 8 inch pipe line,
from its propertlet In the Iloraar Field.
I.oulia.na, to tidewater on the lllsls
slppl River's .east bank, juat north ot
New Orleans.
United .States High Speed Steel nnd
Tool Company has absorbed .tho capital
took ot the Thorn neat Treating Com
pany of Detroit.
0, O. Teaton, formerly assistant man
ager of the Lexington .branch ot th
Corn Kxchanse Bank, haa Joined the
tales force ot Chandler & Co., Inc.
Raymond II. Struble and Ilueo A.
Kcnyon have become associated with the
nonti department or J. a. unite & Co.,
Inc.
Henry L. Boherty & Co. nnnounco that
I he eleventh monthly distribution to .be
tr.ide on Cities Service Comoanr bankers
si' ares on February 3 to shares of record
on January 16 will Be (0.95 cents a
bankers share.
Syndicate composed of the National
nty Company, the Guaranty Urust Com
pany tm Harris, Forbes & Co. Announce,
that the Issue of l. 3(0. COO of Miami
Conservancy Blstrlct, Ohio, Er bonds
has been sold.
Potter Bros. St Co.. tVhlto, Weld & Co.
and W. A. Harrlman & Co., Inc.. an-
tHzAnnWnn i,H rf o ih nounce that the 110.000,000 Issue of At-
$25.000,00a was paid off and at the,limUo company 1 per cent, debeo.
time of the second renewal yesterday
$7,500,000 was paid Off.
Although an amendment-to the consti
tution of the New York Clearing Hoiuo
ture bonds offered by a syndicate of which
the? nro managers has been sold.
Guaranty Trust Company has been ap
pointed trustee under the Madison Avenue
OmctB, inc., trust indenture datea Jan-
Association usually requires two weeks' uary 15, 1820, and securing an authorized
notice, attention was called to the lue of Z,000,000 par value of second
cmernency by the cnanlmous adoption mortgage G per cent, serial gold bonds,
emergency uy uw ;''" "","' ", and transfer agent and registrar of Bal-
of the amendment limiting credit bal- trife 0 company capital tock.
unco payments to a maximum of 2 Tha lollo.rluc hare been selected aa of-
per cent, on only twenty-four hours fleers of the American Foreign Banking
' ,1,. , rtPiHne' Itnusa committee Corporation! Albert II. Wlggln, chairman;
notice. The Clearing iiouse committee Archlbol(, Kanlj j,re,iaent; Hayden p.
ftt a meeting .on Thursday recommended Harris, Alfred o. Fletcher. Kmll Flelsch-
the amendment at the request of the mann -nd Phiiipp j. Vogel, vlce-prtni-
Federal Reserve Board and it was
adopted yesterday. Tho following state
ments were Issued:
The Charing IIouso commtUeo
recommended the adoption of the
amendment In view of the request of
' the Federal Reserve Board, which
had the approval of the delegates
from clearlne houses all over the
jf. country at the recent conference held
with the Federal Reserve uoaru at
Washington, that there should be no
Increase In the Interest rato paid on
balances and that the maximum rate
dents; ( ..rrrles A. Mackensle, secretary nd
treasurer c. v liolt nnd TV. n. sum-an,
assistant treasurers; ft F. Pchl-isner. s
tlstant to the tirr ii lent.
Industrie riur ot New York a .nou s
that "Logan C. 11 . y, recently with o
Irving National Pank, hac her,mo .
president of that bank.
United States Savings Etnk bus elected
Tllllim Crittenden Adams president to suc
ceed Jndgo Charles N. Talnler. who retires
from tho active msnjrment of the bank tuv.
cause of III health; "rtul J. l,'yo flr-t
vlee-presMent; and Adolpb Lo Goat, eccond
vl-presJdent.
The Janniry lsiae .ef J. Frank Koweu s
f)tirfijt Ana JnjMiw a yituttwtil Rtth
Jeetf' contains Interesting Information about
Koumern i-acino ana sugar stocss ana oiucr
to bo paid under Clearing IIouso reg- j juj reading nutter.
SiHCial Cable l)()patc to Tub Set,
Copvrtaht, iSJO.joJJ rtaMt rettrvtd,
London, Jan. 16. An intimate under
standing by America of the English at
titude toward European econorrdo de
velopments will bo a principal factor In
determining Just where the United States
may throw her financial, Influence to be
most useful In a survey of the trade
situation in Europe recently It ' was
stated In 'these 'despatches that England
holds tho future of European develop
ment practically in the palm ot her
hand, and can direct tho recovery of
euch sections as bio seen fit
With America practically maintaining
an attitude of hands off financially In
Europe. England realizes that she Is
tho only other nation to .direct Conti
nental finance, and she sees her power.
Discussion Is beginning as to whether
Germany .shall he given English as
sistance to recuperate or be loft to work
out htr .own salvation. Tha London
Times says editorially J "Now that we
lire enbo more at peace with Germany
the question of out attitude toward
German trade becomes insistent It Is
by no' means easy to settle offhand. It
Is a problem at once ethical, economic,
nractlcal. It Is not ethical from the
standpoint ot those who believe that
German Ideals are antagonistic to tne
ideals of .Englishmen ; these have sound,
logical reasoning on their side xvlien they
urge that, no lasting benefit can result
from a renewal ot Intlmato relations
with, the nation that puts the cult of
materialism above every other consider
ation. Looklnc to Future.
'It Is entirely beside the marlt to stip
ulate that tho Intercourse should bo re
stricted to commercial affairs, yet it is
tolerably certain -that sooner or later
trade and social relations will bo re
stored between tho British and German
nations by . certain elements in tms
country.
"It may, therefore, bo moro npposlto
to consider tho matter from the eco
nomic and practical standpoints. Even
In this thero Is room ror aouot wnciner
it is to our advantage to hasten tho
recstabllshment of commerce with our
lato enemy. It Is true enough that Ger
many was one of Great Britain's best
customers bofore the war, but It by no
means follows that she will provo an
equally good customer now that pcaco
"In the -first place it is difficult for
tho German nation to pay for tho goods
she .desires to import Exhortations to
our manufacturers to expedite arrange
ments for exporting to Germany lest
they find themselves forestalled by more
enterprising rivals should not blind
them to the expediency or nrst inning
tho elementary precaution or ascertain
ing whether and how payments -will bo
made.
World Clamor for Goods.
'Tn n Ifirr-A tvart nf liitrnnn rrrfllt Trru.
... d - - -- -- ------- 1' - -
tlcally has ceased to exercise Its func-
for the substitution of some other
method of financing Business, nut no
practical results of any real value have
Hoar, nhfnlnMl vK When wa nrn re
minded that until Germany Is placed In
I 1 a 1- UU ..ttK
a position tu IXiMJU Willi wro uuuuua
world eho cannot, begin to pay tho enor
fnr rnmrnllon to the'
Allies, we are tempted to retort that
until somo practical measures are taiccn
, n.,oKitaVi n ennnd rnrrpnnv on nn
economic basis. It is useless to try to
pntch up tne uroKon roonc ai uenauu
Industry and traoe.
IrnnwlAflFn flint, he si ilea
Ah ICI 0-1 ,
Central Europe, almost every country
in tho world is clamoring iur euuua.
rru. nrn rnY. nnrtrt't In South Amer
ica, China and all parts of the British
Empire, where commodities 01 every ue
scrlptlon can be sold on advantageous
tprms. with tho assurance that payment
will be made tn.due course.
' "To-day it Is not a matter of searching
for a purchaser; buyers rather aro em
.1 nMnra tn firwt makers who can
be Induced to supply goods within a
.feasonablo porioa. in meo cutum-
it to .tiirifiilt tn ne what ndvan-
BULUUia ifc '" ---
tago would He in diverting goods from
communities able to supply us with raw
materials and food In order to reopen
business with former German customers.
SouniU Warning; Notes.
n.n hm urn resorts current
that American dealers who showed an
excess of zeal in selling 10 incir mm
enemies have burnt their fingers. Com-
n.jnT.AM wnnlrl Rnern to ahoiv that
the right policy 'la to look well ahead
bofore adventuring too ucepiy u
troubled areas of Europe.
... 1. mirfnita fact that German
capitalists are betraying a suspicious
readiness to' .transfer their property In
factory or .mill to foreign Investors.'
Quite commonly, we understand. It is
Ftlpulated that tne Duycrs jtnau ueptwi.
In dollars, 'nounds
sterling or Norwegian kroner to the
credit of tho vendors, but not in Ger
man banks, the Germans declaring
openly their Intention to use tho funds
thus provided to start In business again
in some country not ravaged by "war.
"Tho motive Inspiring such a trans
action may be either fear or cunning.
It may be mistrust of the economio
situation of Gormany or alarm as to the
stability of the State, or tho German
vendors may wish to saddle foreign pur
chasers of German business with the
crushing fiscal burdens they regard as
Inevitable If not imminent
"Obviously prudent men. apart from
all other considerations, will weigh .these
matters carefully before Investing money
in German concerns. It when they have
done so they are satisfied to take the
risks involved there is nothing more
to be raid except to .remind them that
. . ,i rt..iTi Inn'mitrv tn hAnomA
flsiDparous and to reestablish itself all j
over tne giooo uwjr uo
a sea of trouble for their children's
children."
Exports From Kevr Torlc.
n.. v... 10 ! WtA. lha 1.000.000 !
Alcohol. Mala..' 416; Oil. cake, lbs, li-
426,800; Jjara, ma., o,uo,ioo; urense,
lbs., 400,000; Flour sacks, 119.S54 ;
Orass seed, bags. 126; Whiskey, gals.,
- 8110 r.acons, lb."., 3,553,400 ; Tallow,
' 0i' r CVttonficed oil. lbs., 40,000 ;
. biv-t' . o 1. gals.. 53.800.
tiul. 1'U't'l Uoriiorntlpn.
Washington, Jan. 16. Commander
J. I Ackerson, U. S. K., now detailed
ns vice-president in charge of constfuc
flou of the Emergency Fleet Corpora
tion, has resigned from the navy, ef
fective March 1, and will sever his con
nection with the .fleet .corporation on ths
same date, It was announced tgday.
Bankers Float ltie Stock Issuo ef
New Company.
JUahardson, Illli & Co, of Boston will
offer soon 109,043 shares of 'common
stock, ot the Orpheum 'Circuit, Inc., n
Delaware corporation,. recently formed to,
control s. chain of forty-flv vaudeville
theatres operatod by the Orpheum In
terests .in this country and Canada,
Tho price at which the new stock is
to bo offered Is understood to be 112.50 a
share. Tho total outstanding capitaliza
tion of the new corporation will consist
of 16,817,608, or 8 per oent Droferred.
convertible into common at E0 a eharo,
and C49.718 shares of common stock.
France rays Fart of Bond Issue.
PAWS. Jan. "lO. The Ministry of
Finance is dealing to-day with the set
tlement of 8,000,000 tn Trcnsury bonds
placed tn England and due yesterday.
It Is arranging to.pay f6.700.000 of that
amount and rcnow 11,240,000 ot these
bonds at 7 per cent
Exeoutor " Trustee
' Chartered 1822 4
The'Earmers' Loan and Trust Company
Nob. 16, 18, 20 & 22. William Street
s Branch Office, 475 Fifth Avenue
At Forty-first Street
New York
London
Adininistrator
Foreign Exchange
Paris
. Guardian
Member Federal Besom System unci "Sen York OlearinrfHouss
.MISCELLANEOUS MARKETS
SHORT TERM NOTES.
Becurlty. Rate. Due. Bid. Asked.
AmtiottonbnOo.O
AmTeIlTclOo.,.8
AmTfliTc.Co., .6
AmTbreadOo..,,0
AiuTobaccoCo.,,7
AinTobaccoCo...7
AmTobsccoCo.. .7
AinTohaccoCo...7
AnoctondaCopCo.O
Armour&Co comfl
Armour&Co cuuyO
Arraonr.VCo conva
Armour&Co convs
Armour&Co convs
HethStoelOorp...7
IlethStCflCorp...7
OonNorltiry. . , .0
OanNornwy,..,0
Cuacltwy.....O
OenArgemlnoltyA
ChlHur&QIlIUU)
umnieuj O01UO..O
1)8 081
COM 061
00 00
100)4 101
101 101 J
inur lot li
101 ii 103M
ChlPneuToolOoM
unii"neuioca(Jo..o
CMPneuToolOo.J)
OubAmSOol IO..0
Cudahy PsckCo. ,7
Bol!iUudltll....S
FoUauKltfOo...a
GenElecCo 0
OreatNorRy. ...S
OulroUCorp 0:
OnllOUOorp O
O0lfOllCorp;....6
HockValIcyRIt..O
IUTCoconv 7
JUoUyackCo..
JDoldl'ackOo...7
JDoIdl'ackOo..
Uold PackCo...7
JanCTerIlyCo..o
LacaLClst.trof..7
LIiSlTobCo...n
MollnoHowCo...7
Mollnei'lowCo...?
MolInlonCo.,.7
MollnePiowCo.,,7
MoIlneI'lowCo...7
NYCcntRR 0
l'niladcnniaua..o
l'ennsylvanlaCo..4H June 151)1
jruotaauiii.iAT..o iar. xuu
ITocAUaraCo. ..7
IToc&CamCo... .7
IToc&GamCo. . .7
I'rociOamCo. ..7
I'SCorofNJconv..7
UItcniTobCo..O
Southcrnltv fi
Sti'UnDQuar
ThoWI3uFlnCor.7 3uno 16,'2!l
utansecuorp....0 Hept.l5.2J 80
WcstKlMfO O Pcb. 1020 100
.rmiLio iiTn.iTiEs.
Sclca. High. Low.
fZO alius Service 107 m
im Olios Ben-Ice pt.. 73U
sset cities S pt 11 VS
1301 O 8 Banners' ths.. V1
IU0O Cities B deb 11 16)
TSEOO Cities B deb 1061
Did. Ask.
Acir Eiec. m ii
Ad Elcc vl. 7 O
Am IAT..JM 196
Dm o lot
Oct. 1033
l'cb. 10M
Dec. 193
Not. 1020
Nov. 1921
Nov. 1DM
NOV. 102.1 102 Ji I03J,
Jan. 1039 07 B7
.IlinolS.'SO 111 112
.JunolE.'Sl 111 112
Jun.elA,'22 lit 112
Juno lB.'S.'l 111' 112
Jnnel6,'24 111 112
Juyis.'aa loot; mi)
JuiylS.'23 lOOJj 101 ),
Feb. V22 07 U- 09
Ani. 07? 09
Mar. a,'24 07H os
Veb. 1927 84 87.
July 1021 OStf 03'
Oct. 1020 (I0W too)
Oct. 1921 09 U 100
Oct. 1023 S9' 100
Oct. 1023 09 100
Jan. 1021 10OH
juiyis. loi
Aug. 1020 00
Nov. 1024 07 K
July 1020 loo Jl
Sept. 1020 08 jj
July 1021 09
July 1023 09
July 1023 09
Mar. 1034 03
Sept. 1931 73
Nov. lfi,'20 100
Nov. 1821 100
Nov. 1522 100
Nov, 1523 100
Nov. 1523 U8H
Jan. 1929 PO
Dec 1021 09H
Sept. 1920 100
Bcpt. 1021 100
Sept. 1922 10O
Sept. 1033 100
Sept. 1934 100
Sept. 1530 DO)
Feb. 1922 on
NEW YORK Cm BONDS.
Yield
Form, Rato nnd Maturity, old. Ask. About.
Mar. 1930
Mar. 1021
Mar. 1922
Mar. 1923
Mar. 1022
Aug. 1022
Mar. 1922
..SH -Dec. 163.1
7.",,
4!?
159
my,
A L&T pf. S3
Am O A E.IK
A G&K HI. 39
Am P 4 L. 67
Am P4I. pf 71
Am P U
Am P U nf. to
Am w v.. a
A WW 1 pf 45
AWW rr pt 6
Appalach P 3
An Pr pf... II
Car PR&L.. 33
O Ktstci E. 7
: S Klec pf M
Col Power.. l
Col lMw ptSO
Cbm'wealth
P R & V.. IS
Com'wtalth
PR4L pf..
Ex dividend.
ClIEJnCAt, STOCKS
Did. Ash
Am Cron 30 S
Am Cyan pf.. a
By Prod 107
Casein Co ... 10
Dow Chem...lS0 .,
Du P Ch pi.. W, im
ted f;nem....ioo
Fed Chrm pf ..
Grassclli
Grassclll pt..l00
J5x dividend.
ISO
41
C
74
to
30
6
CO
8
C
S3
10
IS
4S
Klec r.SB nf CO
Emp D E Pf 70
Fed I, A T. 6
Fed LOT pf 40
u & E Sec.SOT
am sec pi so
N Ont Light 12
N Out Lt pf U
N Ohio E... 1
N O Elcc of JO
N stales Pr. 60
N 8 Pr pt.. S7
Rep R 4 I. It
Ren RiL nf 43
B Cal Edl... SS
S Cal E P1..100
Rtit O E.. a
Std G4E nf. 40
iTcnn ULlP. lJ
T RX.tP pf. S
Unlteil Lilt. 13
U IAR 1 pf CO
West Power a
V P new pf 71
100
loo $
Did. Ask.
403 4ri
r:', 73
v.. n
JjK 43Vi
lKMl 10H
Bid. Adt.
93
9
43
K0
16
UM
CS
:
u
61
91
II
4S
!K)
101
:7
43
3
S
32
C.l
13
"3
Bid. Ask.
ITooh Elec.... 70
Hook Rice pf. 66 76
Kr Bolvay ... 115
ilcrck Co pf 96 n
Merrlmac ... 90 KM
Mnlford Co... S3 CO
Mutual O ....150
Niajt Alk of.. S5 too
i.o setnet n ...,,ics 175
10lSolv Proc ...190
US
ioo ;
Inter 4 Us. Julr. 1967.
Inter. 4Us. June. 1965.
Inter 4Hs, March. 1963
inter '4s, jov 1007.
Inter. 4H, May, 1937.
uoupon .ts, l'wt-i'jj.'.
::j:::2
3 100'J
100S
1CW4
1WW
4.41
4.46
4.46
4.48
4.49
100U
28',,
Coupon 4fts. 1919-1923 9SVi
Inter 4s, April, 1966 tt5
Inter. 4Us, MArch, 1961
inter, 4 lis, Marcli, i6 vn?
Inter. 4',io. Sept.. I960: fi'i
Inter. 4Us, March, C0-30.... 9114
Inter. 4s, May, 1939 M
Intor, 4s, Nov., lta , 90
Inter. 4i, May, IM7.,..... 90
Reel l4s, Nor., 1B6.. 8314
IUais. 4s. Nov.. 1X3.. 8354
Reds, it, Nov., 1939 92
Inter, ttts, Nov., 1966..... 81
Reff. coup. 3Hs. 'May, 153l (1!
Coupon 4iis. 195MH1..
Coupon 4118. 1930-1923..
Reitered IV. 1940-1963,
Redttered 8Ks. 1930-1919....,
Her, coup. 3ft. lZi-l9
Rer. eonn. iUs.. 191-19n..
Registered .Is. 1940-19C3 4.70
Rerlstured Js, 193-1930..n 4.79
Reentered 3s. 1313-1SK 4.70
, NEW YORK STATE BONDS.
Tleld
Ask. About.
WSVl 4,03
9514 4.40
KH 4J9
S.(i 4.43
W14 4.49
31i 4.49
t'OVi 4.2
SOU, 4.63
DOVS 4.62
9014 4.5?
Mil 4.11
94U 4.49
2 SU8
Sid. Asked.
.6S 4.4J
4.6S 4.45
... 4.6! 4.45
4.C5 4.45
4.CB 4.43
4.60
4.60
4.60
Form. Rato and Maturity. Bid.
Coupon 4U9, Jan., 1964 107H
Kocistorea 4hs, Jan.. i54..ioi
Coupon, 41is, Sept., 1963... .1071,1 .. ....
Rodttered 414s, Sept.. 1963.1117 USli 4.03
Coupon tvis, March. 1365. ..10114 ..
Rec. 414. March, 15 101
Coupon 41is. Jan., 1966 10114
Iter. 4Us. Jan., 1965 101
Coupon 4!i. Jan., 194S 10114
Coupon 414s. Jan., 1946 101
Coupon 4s. Jan., 1967 90H 1WU 3.9S
Coupon 4s, March, 1967 13
Coupon 4s, 1960-62, canal,,.. P9V1 10014 3.93
Registered 4a, 1960-62, canal. 89
Coupon 4s, 1968-62, highway 93V1 10014 !.SS
Regis. 4a, 1938-63, highway. 93
Coupon 4s, Jan., 1946 99
Registered 4s. Jan., 1949 3814 .. ....
Coupon 49. Jan., 1942 9S'.4
Registered 4s. Jan., 1142.... 9SV4 .. ....
MISCELLANEOUS STOCKS.
Am Chicle.. 6S
Am Ch nf.. 80
Amalg Llh.71
A Leath pt. 93
Am Whole
sale Co pf S3
Am Mfi;....lS0
Am Mis pf. 53
Am M & F. 93
Am Type F. 44
Am,T P pf. 89
A Dl T N J. 35
Atlas P O.. 70
liarnh Bros
4c Spin 1 p S3
Darnh .Bros
& Spin 2-o 70
Bor C Mlllf.116
llor O M pf 3
Bush T pf.. 74
City Invest. 75
Cellnlold ...145
Chllds Co... S3
Child! pf... it
Crk W nf... S6
DIiJW C0.16t
Draper Crp.lW
Flsk R 1 pf 97
Int Silv pf. SI
Leh V C S. 83
Did. Atk.
KM
law
S3
43
ti
S3
73
90
lis
100
73
80
165
91
93
101
173
100
93
Bid.
L!ml Loc pf SS
Nat Casket. .1M
Norton 1 pt.103
NJiSnv st.263
Nwn Lth nf. 99
O'Neill Pf... 91
l' Jones urn. es
P J corn nf . 93
I'helps,D...JI0
Pratt & W p 93
R ncls & Co 23
R R & Co pf ti
ity uax rur.iss
Ity B P pf.. 93
Raf H & L.. 63
Singer Mfg.,163
Sttrn Br pf.103
81 li Jl AIAf 40
Rtoll Ch nf..l03
TPC40 nw.HO
v uanite co
Ins 40
VRCo Djc Pf S3
Valrollnepf.105
west ij iterr to
W C Kerr pf so
W A B nf...lW
8 D Warren
cr nrn. ...103
Yale & y....rro
Ask.
99
101
272
101
ti
93
230
145
93
66
171
110
47
103
115
45
to
89
103
1C314
230
Am Cigar 120
Am Cigar pf. SO
A Tob dv scp.UO
Conley Foil.. .323
R W nelrao.,163
O W It pf.... S3
J S Young.. .ISO
J S Y pt 95
MacA & FU..1C0
TOBACCO STOCKS.
Bid. Ask. I
NEW YORK DANK STOCKS.
Bld.Ask.
America M....tsa
Atlantic .115
Am 'Hxch 293
Battery 210 2201
Bowery, CO ...
Bryant 'Park-WO 160
Garfield Nat.
Gotham
Greenwich ..
llarrlruan ...
HanOTCr
Industrial
B way Cen 160 ICOlImu i Trad.
ttld-Ask.
,.733 ...
,.20 225
,.176 ...
,.370 400
,.820 S10
.too ...
.M C23
Ilrmuc Nat 130 I6l)lrvinr Nat 290 400
Butch & D 33
Choso 4S5 493
that ft P 330 330
iieiea EX 125
Chemical 6fi(t
Citizen Nat 763
City ,.405 41S
t.oai & iron... .213 ...
Commerce .....243 H7
tnionial
Continental .,,,120
Columbia ......260
Corn Rich its
Cosmopolitan ..110
Commercial
Commshw'lth ,.315 125
"Ha .170 180
g.asi uiver....jto ...
Fifth Nat 155 166
rum. avo goo
F 11 Nnl tl'rt lrft
oraign xr B.. .. 166
Ul,rli' 430
1 .In, f-ln Mi 295
Manhat Co 215 ...
Meeh A M.......4C0 470
Metropolitan ...310 360
Mutual 00 i'J)
Mmrhjlltl 240 250
New Neth 200 210
NYU A .4" ...
JJ V CO 135 US
Park .740 760
Paeiao 155 ...
lToduoa Ex 375 ...
Public ......... .3 ...
Seaboard .......MS ...
Second ....400 4:6
State ...........30 310
23d Ward .139 149
United States... 193 ...
Union Ex.. 18S 193
Wash Hts 125 ...
. t J 1 ' au
Includes one-half share Irving Trust.
TRUST AND SURETY COMPANIES.
Dld.Ask.
Metropolitan ...309 ...
Mtgo Bond 93 95
Mut T of W....103 125
Lawyers T 123 1st
untoin it no ...
Manufac'rs ....205 ...
Mer T ,290 ...
Nat surety 20s no
N Y L I A TT..730 150
New York TY...C20 ,.
N Y Tltlet H3 130
Peoples 390 310
Realty Asm 110 120
Title Q A T....400 410
United states.. ,50 97)
U S M & T 415 423
I 8 Title Guar. SO S3
Westchester ....ISO 140
W i II T 4 M.l 173
BldAlb.
Alliance so ...
Am Trout
Am SunHr 83 es
nanKcri 335, 4051
Bend & Mtge.,280 240
Brooklyn TT....5W 5l
Central Unlon..445 435
Columbia , 365 375
Commercial ..
Empire Trust. .290 sool
Ennltahla 5SS Ki
warmers IAT..440 450
jrrnnKiin 21s m,i
uiton p.w m
JFidellty JS0 ...
wuaramy ,iw 410
Katn.'lton .
Iludion T.
Klng Co 610 5
133
,263 265
115 .46!
Lan ers M un i3t
ee N. 1, Title ft sug-. CO.
towns all American Trust Co.
STANDARD OIL.
Bid. Ask. I
wn. mil1.
Anslo-Anl.. 28W
Ail Re (in.. 1300
At! Ret pf.113
Rorne-8ciT..4fO
HucliejePL. 9i
Ches Mfsr 0.2W
Contin'.ninl.CaO
Orencnnt PL 24
CI'L Iri?.J!5
Eureka PL. 113
Galena-Si?.. 83
Gal-Slir nf.107
lOal-Klff pf.103
Illinois PL.170
Indiana PL. 97
Int Petrol.. 67
Nat Transit 31
N Y Trans.170
North P L..100
Ohio 3C5
1 Mex F.. 70
Pierce 20
Prairie OAO.630
Old tNew.
STEEL AND ORDNANCE
Bid. Ak I
2314
1373
111
4S0
160
xz
D75
S7
133
135
$3
113
101
175
10O
70
36
ISO
105
376
75
21
660
Prairie P L.28S
Solar Rcfln.360
Smith P L..160
Sooth Pa... .530
s w Pa PL. 96
Std ot Cal. JIT
Std of lnd..7Z5
Std of Kftn.eeo
Std Of Ky..
Std oi Neb.525
Std of N J..7C0
S of NJ pf.115
Std of N Y.440
Std of Ohio. 640
Swan F..10O
Union T-nk.lSS
Vacuum ....430
Washington. 40
Stand robsld
"en bloc". MM
Stand old ft
311 on".. 2800
Bid. -Volt.
270
3W
165
S!0
100
S22
710
6S0
IA
M0
770
U6H
445
6C0
110
i:
430
43
Bid. Ask.
Porto R-A T..1S.
R J Royn A.. 625
R J Rcyn 1I..4C0
R J Reyn pf..lftl
OnlT Loaf 103
Unlv Leaf of.128
Weyman-B ...its
Werman-B pf. 93
140
tco
4S
103
105
200
175
101
CANADIAN WAR LOANS IN NEW YORK.
614s,An!r.,
CVis.Dee.
5H''
6'. f
Es.l
5is,lc ,l!7. 93
Rid. Ask.1
21 9Sli 99
22. 90V4
'2: C0V4
'ii 99
87
Bid.
EHr.Ang.U. 9514
5s,Oct.:i.... 87
6Vts.Nov..'33. 93
92H61tP,Nov.JI. 90
83 Es.Mar.S7... tola
91 3.9,Dec..'37. 91
Ask.
9614
19
!Mt4
9fl4
92
95
Am Brass. ...521
Atlas Pow.,.,162
Atlas Pow pf 90
Bab A WH...120
lilies. E W...410
BUM. B W pf CS
Can F & F...IS3
Crib Steel... ,1M
Carb Kll 1 pt.103
Csrb StI 2 pf. 71
Colts Arms... M
D11 P Powd.370
Ei dividend.
SUGAR STOCKS,
Rid. .Ask.
Card-Am ... 20
STOCKS.
Did. Ask.
228Eastern Steel. 83
1ST ixcp s & 1... 21
SIVilEmp 8 & I pt 63
125,llere P 213
430jHerc P pf,...107
73'Nlles-B-P ....110
lfoINllPK-B-P pf.. 95
liolscovill Mfe,..!9S
lOSIThomas Iron.. SO
75 winch COTP...J75
90
ro
70
221
109
111
420
S3
C2lWoodward
3S0
, 41
Card-Am nf 70
C Acuire... 99
Central 22
Central pf,. 63
Federal ....101
Fojardo ....133
fit West ...410
Gt West pf.HS
Ouanta'mo. 7S
1
37
CO
112
135
440
119
80
June Cent.,
Mat-Am ..
Mat -Am pf,
Michigan .
Nations!
Bid.
.110
10
. 69
,. lt
.149
N NInuero. .223
s Cecilia .... 83
Savannah .. 33
Savannah pf S3
Ask.
160
15
70
13
119
si
31
ti .
OUT OP TOWN MARKETS.
BOSTON.
MINING.
gales. Oiien. High. :
IM Adrenture 96c 860
60 Allouei 31 SS
20 Anaconda cx dlv.. 1 6174
15Arls Commercial.. 141i liVi
-10O Big neart ........ 914 Sh
10 Butts ft Sopsrior. 27U JH'i
8T Calumet A Arts... 6414
13 Calmnct & Hecla.385 SS3
1PS3 Carson 3814 SSH
10 Centennial IS; U
Hi Copper Range 45U 43VI
70 Daly West 4i 4H
S5 Da-rls Daly , 1311 13H
1 Franklin 3)4 S4
10 Island Creek 44 41
100 Keweenaw l?i
lit La Salle 3 .
23 Mass Consolidated 514 S'4
270 Mayllower43W Col Mi Vi
lTJlchlgan 14 5!4
133 Mohawk 3
60 New Arcadian...,. 4 314
60 New Cornelia. 2214 2214
10 Now River pf.... SOU J0J4
HSNlpisslng 11 "J
875 North Butta 1614 16U
lOOOlibway 1H W
40 Old Dominion 36 33
195 Seneca W 'i
1T. dhnnnnti Ihi 114
100 South Lake 114
1 U0 1 MS 3
, 47V4 4745
40 Bunerlor Cop 614
1350 Sun ft Boston.... 44
loa Trinity 2
600 Tuolumne ,
10 U S Smelting"....
195 V S Smelting pf.
3S5 utan cons.
4C0 Utah Metal 3H 21;
100 Victoria 3 3
25 Winona 3 3
10 Wolverine a U
RAILROADS.
2t Bos &' Albany....i22 1221i
180 Boston Ele 414 6j
13 Boston A M S3 S3
37 Bos & M pf...... 30 SO
CO Bos & Sub El pf 14 6H
20 Chi J & S Yda pf S5 85
200 Maea Eleo 6 6
60 Mass Elec pf..... 13
H I N H U 37
90 West End St Ry 44 44
100 West End St pf 6Sl W
MISCELLANEOUS.
20 Am AST 'Chcra .. 90 90
133 Am, OU 6t
z Amosaoas pi ....
6 Am Pne S 1st pt 30
IS Am Sugar i)f ....11714
732 Am Tel It Tel.... 9714
8 'Am Woolen 141
62 Am Woolen p!...10l
10 Anglo-Am Coml.. 17
300 Century Steel ... 614
45 Eastern Mfg 33V4
75 Eastern S 8.... 2014
60 Edison M..J50
63 Elder ....-.......
171 Fairbanks ........ 80
5 General Electrlfl. J97
100 Gorton Tew 21
223 Cray 4
65 Int Cot Mills 70
60 Int Port Cement.. 34
300 Int Products 37J4
S LUlby McN L... 2S14
20 Loews Theatre.... 1014
S7Masa Gas 74H
10 Mass Gas pf tils
5McElwaln 1st pf..lOO
5 Mcrtcntkalcr 133
10 Mexican Inr ...... 49
894 Nat Leather 17
ISHK Tel & Tel.... SS
ll1 Parish 4314
45Paclc Mills .....171
190 l'nnta Sugar 014
3 Plant pt ex car...
65 Root ,
3T3 Sl'awmut S S.
20W Sl.iims Mar ...
lOSte -art ........
IN Swift .' Co....,
.281 Swift Internal.
D Torrlnston
I r, -1r. ' 1 K:i
1C9 Unit Drut lit pt. -?4
30
nsii
98
148
101
17
7
m
2014
152
84
80
167 ,
23
43
70
284
1014
7414
63
ioo
131
48
6IU
, . 23
. 11
. 49
.131
174
9114
9614
C24
2914
1814
46
V
1".
90
6i
S3
30
U714
9714
143
104
17
6H
3214
20H
160
'34
78
167
23
4414
70
24
39
as
1014
71
ei'.i
ioo
131
49
16T4
SS
4314
174
SSH
95)4
61H
29
18
49
131
71
1"
wis
DO
S
82
30
11314
97)4
148
101
17
7
33
tt
161
31
73
167
23
4414
70
21
37
3814
1014
71
63
100
133
48
17
ssH
4314
171
88H
86 14
48
131
67
71
115
i-'H
S3 United Fruit 133 191 133 103
138 United Shoe 4711 47tt 47 47V
1S7 United Shoo pf... 2314 2."?l 25"S 1554
110 II S Steel lSi IWi 105 106
13'i 131 YM 134
19(4 13Ji 13H "li
ssn aSj :sii ss
...... r3',i ar, zi'.s j;ta
BOIJS.
22000 Am Tel tc Tel Es. !)9U ml ti 93
1000 Pond Crock 6s.... 9214 33H 0214 92(4
2000 Swift 6a 9214 9214 9214 3214
W Western T ft T 5s 83 83 IZ S3
CC0 Ventura
310 Waldorf .,
C23.Wa! thorn
23 Walworth
DOSTON'CURD CLOSING.
Did. Ask
Black Ilwk. 1 1A
Bohemia ... 1I
licrs & Mon. 72 74
Calaveras .. .. Hi
UhrtnD on .. l s
Chief Cons.. 6 6H
Coni Cop..,, 4?i 5U
Crown Res. 31 60
Denbigh ... 33 40
Eagle B B.. 2r :H,
I'Orluna .... I 3
Gadsden ... 1T4 3
Iloma 17 18
Houghton .. ,70 1
Iron Bios... 25 25
Iron Csn.... 11 14
kler Verde. .WC0 70
LA ItOie.... 30 M
Malestle ... 17 33
fun paid.
! Bid. Ask.
M Metals. 4 8
Midway M.. 68
Jloj Tung... 15
Monarch .... 95
Nat L & Z.. 5
Nev Doug... 11
New Baltic. 314
Nixon 20
Onondaga .. 9)
Plhrrlm .... 33
Pioneer 90
Ranger ret. ..
Ranlcr SO
Seven Met.. 23
S W Miaml.'4
Texsna SS.
u Verdo Ext 4PI
Yukon 70
71
13
93
8
17
4
2J
42'
H4
95
95
28
414
42
43
1
Sales.
215 A Pick
CHICAGO.
Open. High, Low. Last
43 4 45 45
23 A TVr,ltr C nf. 93 95 t5 95
370o Armour pf .'.113 11214' 111(4 UltJ
75 Riiiue ............ C3 C3 C814 CSv
25Slooth Fish 1354 13H 13i
i r.ooui r im pi t n n
155 Butler Bros 093 394 J9254
25Bunta Bros 11 14U H, llli
600 Chi C & C Rys Pf 9(4 W !'.5 9
95 Chi Kiev Rys pf. 6, 6 6
600 Chi Pneu T rts... H (4 V, K
60 Comwlth Edlson..l074 107H l07Vj 10714
SlOConUnental Mot.. ISM 13H 184 1314
20 Great Lakes.. ..i.. 95 95 95 93
665 Oodchaux 60 C0(J 60 6014
1C0 Holland St Louis. 1714 "Vi 1714 114
623 Hupp T4 1SH 1574
65Dllnrtman m . . ira
325 J I Caso Plow.... 224
10 J I Case 2d pf.... 9SV4
600 Ltbby 23
10 Lindsay Light..!.. S
, 440 Mont Ward ,i,. S3
1550 Nat Leather 17
SO Roo Motor 2714
26 Itnmihtle Truck... 62
30 Quakor Oats ptd.. 93H 9114 9S(S
4:3 Sears itoebucic....si
19000 Stew Warner...... 43
100 Stew Mtir 49
628 Swift A Co 131
1300 Swift Intl 67
son Union Carblda.... 76
25 Thompson 4S'i 4SH 48'
415 Wahl 41 41U 44
630 Western Knitting-. 34 2414 234 23
28 Wrigley ;1V4 1 81(4 SlS
x BONDS.
14000 Armour Cs 192O...110S 1104 1104 1104
PinLADELPirlA.
Sales. Open. High. Low. Last.
Am Gas 61 61 61 61
767 Am Stores 40(4 894 40(4 394
IS Brill CO 60 SO 10
361 Elec Ktoragn 1331! 133(4 13214 13314
100 Genersl Asrhalt..U4l 114V4 U4( 114(4
6 Glanv PortCement 6(4 6(4 6 5
to (tiant f u pia.... is
35 ins CO w A...
100 Keystone Tel..,
700 Lako Superior,
10 Lehigh Nav...,
?s Ijihlirh Vallmr..
100 Mldvale 43(4 4914 43(4 49(4
763 Pa 42(4 42(4 42 42
60 Ptmna Salt Mfg... 78 79(4 78 76(4
185 Phlla Eico 2514 V4 H 25(4
zw i nua n is wis....un ua 115 us
22(4 2211 22U
93(4 95(4 9S
S84 284
8 8 8
so ss say,
17(4 164 ,164
27(i 27 '27
63 62 62
9814
225
414
46
IK
66(4
74
48H
44
45 43
43 49
133 131
67 S6U
i
73 74'
iv is 13
as sift 33'4
12 12 12 12
20(1 20(4 20(4 20(4
94 64 CI Ct
615 Phlla Rap Tract. 27
83 Phlla Trac 60
lllTono Belmont.... 3 3
36 Tono Mining 2 24
60 Union Trac 34 38
830 United Oas Imp.. ts 63
BONDS,
tscoo Am Oas Elec is., to M
37 27K
65
3000 Elee A- Peo 4s 65
feOO L S Income 6s.
1000 Phlla Eloe 1st 6s..
2WJ P.t Cons 4s...i..
Reading gen 4s...
5C00 United Ry inv 3.
90
60(4
91
8
734
65
90
90
61
80
734
C5
Wi
M
91
SO
734
C3
90
W
91
80
73!i
PITTSnURG.
Sales. Open.
15 Am Tit Trodiicts.. 15
9S60 Ark Nat Ga 33
145 Barnsdall Corp ... 43
75 Oarho Hydrogen.. VA.
330 Carbo Hrdro pf... 4
3375 Guffey GUlesple... 3414
150 Independent Bwg.. 3
70 Ind Bwg pf 9
85 Lone Star Gas.... 3.1
2070 Marland Ref a
105 Mfrs Lt A neat.. 574
50 Nat Fireproof .... 8
291 Ohio Fuel Oil 27
64 Ohio Feel Supply. 434
1187 Oklahoma Gas ...S3
100 Pitts Coal 61
600 Pitts Jerome 20
1ft) Pitts Oil h Gas... 14
63 Pitts riate Glits.163
150 Riverside Eaut Oil 24
90 Transcoiitl Oil.... 21
45 Westing Air B....118
SO Wcstlnghousa Elec 524
BONDS.
1000 PlttJ Bwg 6s 75(4
BALTIMORE.
High. Low. Last.
15 15(4 15
S3 31 31(4
45 43 45
24 S 2
4 4 4
344 334 31
3 24 24
8 8
8 33 33
6 6
674 t7 5714
8V4 8(4 8(4
29 27 29
4914 - 49
31 38 38
61 61 CI
20 M 20
14 li 11
161 163 164
3 24 24
25 34 25
117 110 117
I3H 53 62
75(4 75U 75(4
NEW ISSUE '
Steiner Oil Corporation
BOARD OF DIRECTORS
PRESIDENT R. L. Steiner (hot been engaged lit thd
producing, refining, trmhsporUtlon,
buying and telling of petroleum and Its
product! for the past twenty yean).
YICE-PRES. Arthur Batty (until recently aaocIated
with Meters. Hnlsey, Stuart & Co,, Inc.,
Investment Bankert, New York City).
viCE-rncs. J. E. Forrest (formerly Ceneral Man
aeor for Pierce Oil Corporation 6f Prop
erties in Texas and Louisiana).
treasurer Herbert D. Ardrey (Vice-President
' American Exchange National Bank,
Dallas, Texan).
SECRETARY M. G. Eitclman (formerly Assistant
General Manager for Pierce Oil Corpo
ration of properties in Taxus and Louisi
ana). DntECTOR Dr. J. E. Butler (ono of tho largest foe
owners in RanRor Field, Tchcas).
director Albert M. Chambers (Director Missis
sippi Valley Railway & Powor Co.).
DIRECTOR Walter M. De Laplanto (of A. L. Cham
bers & Co., Incorporated, Buffalo, N.Y.).
DntECTOR ' Raymond P. Fowler (of A. L. Chambers
& Co., Incorporated, Buffalo, N. Y.).
DIRECTOR Edward Moyte (retired, New York Qty).
DlREOTon Alexander F. Weltberg (of Thompson,
Knight, Baker & Harris, Attorneys,
Dallas).
lmmbms
INVESTMENT BANKERS
37 Liberty Street, N. Y. C.
Telephone John 3116.
aCiQ
NEW YORK STOCK EXCHANGE PRICES.
Continued from Preceding Pago,
Sales. Open. Hich. Low.
no iialto TUDft 60 60 CO
177 Comm Credit pf .. 24(4 24 24
"S3 .Cent Terosa pf... 131: :9 n
320 Cordon 914 9 9
675 Celostlno 3.05 3.05 3
100 Citlacns Bank ... 43 43 43
40 Cons Power 102 103 103
28 Cons Coal 82 82 S3
10 Davison Chrm ., S3 33 35
10 Houston Oil pt.. 93 93 3
20O Indlahoma rts .. 23c 35o 25c
30 lira- A M let Nat 30 ' 30 30
5 Jtononeahela Val.. 174 "H 174
23 Maryland Oas, ...100 100 99
311 Maryland Oas rta 20 20 20
27 Pa Water 81 81 81
370 United Ity 14 11 11
EU,S Fidelity ....139 130 139
BONDS.
320O0 Cons Power 4s.. SO SO SO
1000 Cons Obs 4s.... 94 99 95
2000 United Ry Iuo 4s 47 47 47
1000 United Rr 1st 4s 6S 63 68
Last.
to
2P.i
10
9
3
43
103
S3
85
93
25c
30
174
99
20
81
14
130
SO
96
47
63
SAN FRANCISCO 31IMNO STOCKS.
DIVIDE.
Hid. Ask.
Allied Dlv.. 2
Alto Dir.... 8
Annex Dir. 3
Belcher Dlv 20
Belcher Ext S3
llroucher .. 32
Divide 3.50 3.80
Dlv Cons.... 5 6
Dlv Ext 90 92
East Dir.... 3 6
Cold Zone.. 33 35
Hasb Tono. 20 22
icnnesey. 3 5
Ilorioahoe... 3 5
Junior
Knox 13
McN Cres... 28
Mrra 10
Reno 3
Revert 23
Rosctta 6
Royal 3
iTogjery .... S
Silver ICJcf. 7
Syndicate. ... 3
Vcrdl 15
Victory 15
Bid. Ask.
4
Cash Boy.,
TONQPA1I.
8 Mon Con..., 10
Jlnt Boiler. 21 23 'Noruf atar.. 7
15
30
12
6
6
4
6
S
4
IS
13
15
McNttnara.
Midway .... 24
Mlapah Ex. 6
so Rescue 23 11
23 iTono Ext.... 2.SO 2.5J
S I West End.... 2.05 2.11
GOLDFIELD.
(-Closing.-, Dir.
Did. Askf to S. galea.
641 66 6T 200
78 79 7 900
71 72 5 400
48 46 4 4700
9 94 60c 4600
6 94 .. 600
131 140?, C 100
3C 37 .. 1400
68 CO S 200
75 76 4 100
67 67 6 100
37 --38 1 200
SS SS-?i C 40G00
SIM S7 6 3100
41 42 8 2400,
304 324 .. 400
36 ' 37 .. 300
29 29 Vi, .. 9000
60 61 .. 100
C5 66 6 100
39 39 3 3500
69 694 .. 26000
106 107 8 100
19 15 .. 5400
94 94 8 700
61 G2 6 500
284 2894 1100
23 24 1 400
95 96 8 700
114 115 8 100
8S 90 6 3500
36 07 8 200
21 214 2 400
75 75 4 4400
34 36 2 200
84 86 .. 500
44 45 .. ' 1000
61 64 .. 100
107 10894 6 46000
0900
10? 104 7 100
102 103 8.70 32000
16 1G'4 1 1300
17 17"4 .. 2700
73 75 6 100
19 19 .. 11000
7 7 .. 100
225 230 8 100
80?4 81 .. 27900
42 42 .. 44200
73 73 6 1100
99 99T6 6 13500
21 21 .. 11C0
544 65 5 200
71 72 4 1400
102 103 7 40400
101 101 7 100
115 130 5 1100
46 47 3 100
11 11 .. 1000
197 198 10 7800
100
71J0
36 37 .. 3600
13 14 .. 100
8 400
90 9094 0 16100
102 104 7" SCO
24 25 .. 32900
599a 60 6 2700
31 35 .. 9000
121 122 10 1200
67 68 4 100
49 60 -4 1200
143 145 7 300
61 53 1 3 200
192 193 10 800
11 12 .. 100
25 26 .. 200
85 85 3 13300
70 71 2 2000
105 106 8 8300
62 63 .. 8600
125 125 8 12400
113 114 8 100
70 71 6 100
10494 104 T4 5 49200
115 115 7 400
70 77 6 700
51 51 .. 1700
65 66 4 400
7 8 .. 1800
22 23 400
52 63 .. 100
10 H 400
23 24 .. 200
80 87 7 100
117 118 7 200
02 52 4 1100
11 12 .. 2700
17 19 .. 400
5994 60 4 2300
29 29 1 CGOO
75 76 5 300
SO 90 .. 6700
70 73 C 200i
Odd lots.
North American Co..
Northern Pacific...
Nova Scotia S & C...
Ohio, a tics Oas
Oklahoma Prod & Ref...
Ontario, Silver Mining.
Otis Elevator
Otis Steel
Owens Bottlo Co
Pacific Development..
Pacific Gas Ss Electric
Pacific Mnll.
Pan-Am Petrol & T. . .
Pan-Ain Petrol & T B
Pennsylvania IX IX.,
Pcnn Seaboard Steel..
Peoples Gas, Chicago.
Pens Marquette
Pero Marquotto pf,
Pcro Marquette prior pf.
Philadelphia Co
Plerce-Arrow Motor....,
Plerce-Arrow Motor pf.,
Pierce Oil Corp ,
Pierce Oil Corp pf
Pittsburg Coal of Pa...,
Pittsburg" & West Va...,
Pond Creek Coal
Pressed Steel Car
Pullman Co ,
Punta Alecrre Sugar ,
Uallway Steel Sprinsr...,
Ray Consol Cop ,
Reading ,
Heading zd pf
Remington Typewriter. ,
Reploglo Steel ,
Republic Motor Truck..
Republic Iron & Steel...,
Republic I & S rts cash,
Republic Iron & Steel pf
Royal Dtltch Co N Y...,
St Joseph Lead
St Louis & San Fran...
Savage Arms Corp
Saxon Motor
Seaboard Air Lino
Soars-Roebuck Co
Shell Tran3 & Trading...
Sinclair Consol Oil
Sloss-Slioffleltl S & I....
Southern Pacific
Southern Railway
Southern Railway pf....
Stromberg carburetor ..
Studebakcr Corp
Studebaker Corp pf
Stutz Motor
Superior Steel Corp ....
Tenn Copper & Clicm...
Texas Co
Texas Co 30 p c paid....
Texas & Pacific
Third Avenue
Tido Water Oil rts...
Tobacco Products . . .
Tobacco Products pf .
Transcontinental OH
Union OU
Union Pacific
Union Pacific pf
United Alloy Steel
United Drug Co
United Drug Co 1st pf . .
United Fruit Co
United Ry Investment .
United Ry Investment r.
United Retail Stores ...
U S Food Prod Corp....
U S Industrial Alcohol. .
U S Realty & Imp
U S Rubber
U S Rubber 1st pf
U S Smelting, R & M...
U S Steel
U S Steel pf
Utah Copper
Vanadium Corn
Va-Caro Chemical
Wabash
Wabash pf A
Wells Fargo Express .. .
Western Maryland
Western Pacific
Western Union Tel
Westinghouso Air Brake.
Wcstlnghouso IS & M.,
Whcclinsf & Lake Erie
WlfpnllnB- Iako Erlo pf
White Motor
Willys-Overland
Wilson & Co
Worthington Pump-....
Worthlngton Pump pf B
lOpeo-1 Ulsti. I Low Clot- Nrt
1 lnr. I est ast tat. Chants,
65l 65) 65 I E5 I T7
78 79 78 78
71 71 71 71 2
47 47 46 46
9 9 9 9
8 8 8 8
132 132 132 132 9i
87 37 36 86 74
CO CO 60 60
76 76 76 76 1
67 67 67 57
37 37 87 37
96 96 88 88 S
92 93 874 87L 6
42 42 41 41
80 30 80 30 1
869a 36 36 36 1
28 29 .28 29
60 60 60 60
66T4 66 66 06
40 40 39 39
72 72 69 C9 34
106 106 106 10G
19 19 18 19
94 94 94 94
6194 62 61 6194
28 26 28 28
24 24 24 21 1
97 97 96 96 2
114 114 114 114
90 90 88 88 2
07 97 9C 90 1
2154 21 21 21
75 7694 74 75
35 35 35 35
86 86 84 . 85 1
45 45 45 45
51 51 51 51
112 112 107 107 4
1' 1 i
104 10494 104 104 2
106 106 102 102 494
16 16 16 16
17 189a 17 IS
73 73 73 73
20 20 18 19
7 7 7 7
223 225 225 225 1
. 86 87 80 80 7
. 48 43 41 42 1
74 74 73 73 Hi
f 99 101 99 99
21 22 21 21
64 55 54 55 9,
75 75 73 72 3
105 103 102 103 3
101 101 101 101
11S,125 116 125 6
46 46 46 46
1194 119a 11 11
200 200 195 197 1
, 187 187 187 187 2
1 18794 190 187 188 1
36 38 35 36 1
14 14 14 14
, 22 23 22 23
93 93 90 90 1
103 104 103 104
25 25 21 25 1
I 61 61 69 59 1
35 35 33 31
121 123 121 12194 9i
67 67 67 67 94
50 50 4994 4994 Vi
, 144 144 143 143
51 51 61 61
, 193 193 191 192 2
11 11 11 11
! 2594 2594 2594 25
, 88 8894 S5 85 3
71 71 70 70 1
106 108 105 105 2
64 64 52 52 1
128 128 125 125 3
114 114 114 114
71 -71 71 71 '
10594 105 104 104 lVt
115 115 115 116
76 7694 75 75 1
53 53 51 51 1
66 66 65 65 H
7 7 7 7 ?a
22 23 22 23
63 53 53 63
10 11 10 11
24 24 24 24
87 87 S7 87
117 117 117 117 1
5291 6294 52 52 9$
11 11 11 11 .. I
17U 17U 17 17 1
61 61 69 59 2
2994 2 9 29 29
75 75 73 75 1
93 94 9 3 S3 89 2
70 71 70 71 .
427
12
27
117
444
:p,
Low.
64
13"i
427
12'J
:6";i
117
41
:!.
Atlanta .... 2
Rooth 4
O O D 3
Comb rrac. 3
Cracker! ack. 3
Florence O. 80
cold cons.. 13
Jo. nuns, 73,037; average, 45,60,
shipments. 43.681. Average, lt.455. ,
Amparo, .... 1.70
Arts United 16
Eden .(.,... ..
Mayflower... 2
Not Hills... 2
Nor Wond.. IS
Bound ill., J4j
3 Great Bend. 1
6 Jumbo Ext.. 7
3 Kewacao ... 2
6 Lone Star... 2
6 Red Ilillr P. 3
silver Pick.. 3
15 Sccarhead... 4
MISCELLANEOUS.
Roch Mines. IS
San Tot..... 7
Tecopa 10
un Amur... .,
wnite cars, s
W Cans xt 1
Yerlciton.. 1
40
3
3
20
40
S
3
5
4
4
i
23
15
1
2
fi
DETROIT.
Sale-- . ODenIllfh.
11M cnarcoai srui v.
...a nn.iiH..il, Vnt.. 12'i 1ST4
30 Ford of Canada. .427
ioo Mlchlean SUIsr.. It's
CM Packard Mot Car. 27
25 Parke Davis Co.. 117
W Pal ire Detroit M.. JIS
vn Ren Motor Car... 2i
MONTREAL CLOSING,
r.ld. Ask. I Rid-
134 -. Cement ..... it
Ames Pt.-U! 1 Ccm.nl pi..
Asbestos ...... z,.zzi":,r;:-y,i,i
fiU..S5:.-ir S3 asm K. 16
nromuton.. 83 8314 Span R PI..11714
rsHr...,. s 63 Steel ot Can 81
cS'piiM .. Hiordftii P...1S3
ran Loco... 93 103 LnurennMe. 263
cSS smelt SO 30 -Montreal P.. M
Can 8 a.... 78 7i Quebec fflaj
Can H f P'. --
TORONTO CLOSING.
COBALT.
Bid.
40
(3
3.10
13.50
3
4
. s
. 63
, to
Adanac
Bailey ...
Beaver C
llnff.l1
Chamh Fcr. 11
Conlatas .; 3.00
Crown Res. 44
Porter 3
Gilford 3
flt Horth.... 3
Harrranre... 3
Hudson Bay GO
Bid. Ask.
6
6
70
70
IS
3.35
47
La koso
MCK-D-S....
11 In n nf n
Nlnl.ums..
nnM,"
Peterson L.
4 nirtit of W
2 Silver Leaf
4 ITcmitkam...
4 Trethewey...
m iweiuauier..
PORCUriNE.
MoIntTTfl
Monet a v...
JWV -
Pore Crown.
Pore Imp....
iPore "ilsdale
'Preston E D
49
45
3
3
15
78
34
13
Ape '
Baldwin ... 13
Davidson ,. 74
Dome Ext.. 33
nui. T .lU a is
TVim. M 11 TK 11.00
......... st 1 1X
... 'i ... -... ..a . --" -
(told set I., a t sennmaentr.
llclllnier C..n 7,roro- TiT T
2.00
18
11
23
1
1
23
3
Lrnt.
6i
1J54
427
12S
26
117
41
16
Ask.
72
77
116
K4
138
814
18214
270
nr.
30
127
Ask.
4.75
60
70
3,20
12.00
4
24
50
61
4
2.1!
18
15
23
4H
3
Inspiration.. 3 5 IThomp Krlst t
Kcora 19 20Wett Dome, i
KIRKLAND LAKE.
Elliott 25 IS ILako Shore. 1.23
Klrkland L. 7S 79 Trck Hughes IS
MISCELLANEOUS.
Boston Crk. 13 25 IWasaplka.... S3
1 a
to
EQU1TMENT TRUSTS.
(Tim followlnc are aaoted on n Dfrcentaire
TVs nic. Matnritr.Ilatc. Bid.
Baltimore & Ohio 19-27 4 .30
BBlt Rock A ntts... .1939-33 4-5- .W
Oanadlsn Northern... 1MO-29 4-6- 6.63
Canadian Pacific 1920-28 4 6 81
Cbeupeake A Ohio.. .1320-27 4 8.35
CM A Northwestern.. 1920-23 4 5.93
CM Rock Isl A Pao.-lSCO 4-5 6 60
Chi St L A N 0 1920-J4 I $.13
CMckastw ruiflnlnc.. 1920-21 6 7i
Clere, O C ft St L .1930-29 5-6 6.13
Delawsre A Hudson.. 1923 4 8.00
Erie Railroad 1920-17 44-5 7.00
Illinois Central 1920-27 4-S 6.93
Lonlsrllle A Nsshrlllt.1920-23 5 5 90
Michigan Central 1920-33 5-8 .1D
Minneapolis A St L..lX-!7 5-6 7.00
Mo Knnsss A Tersi..l9"-21 5 7.00
Mlrsonrl Pacific 13'2I 5 7 00
3'oMlo t Ohio 193)-" 4-5 6.60
N Y Central Linos... 1920-13 4-5 6.15
N Y Central R R.... 1920-23 4 0 23
Norfolk & Western... 1020-31 4 6 90
N Y N II A II W20-29 4-5-S 7.W
Pcnn Oeneral Freltht.t"C0-23 4-4 5.90
Rcadlnr Co 1930-27 4 I 95
Seahoard Air Line. ..1930-27 4 14-5-6 7.90
Sinclair Reftalnr 19 SO-21 7.00
8onthern Pacific 1930-24 4 6.00
Southern Railway.... .1920-26 4-i .J7
Union Tank USO-SO 5 6.00
basis.)
Asleil.
6f I
5.6
6.31
.fi
5. W
6.5t
6 Oil
6.S7
KiT,
5.73
6.85
6.23
6. (0
6.50
6,5
6.23
6.01
6,M
6.00
5S4
6.9J
6.80
6.23
6.50
6.60
..-,
CM
6.73
.IM
i.eg
Pennsylvania Crndo Oil Mnrtet.
On, Cur, Jan. 16. Credit balance
2
BBSS-SSI
5
mm ifira"ti1ilMi"
IA.-,....-.- ""- y.L

The sun. [volume], January 17, 1920, Page 13, Image 13
About The sun. [volume] (New York [N.Y.]) 1916-1920

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The sun. [volume], January 17, 1920, Page 13, Image 13
About The sun. [volume] (New York [N.Y.]) 1916-1920