The New York herald., October 01, 1920, Page 17, Image 17

About The New York herald. (New York, N.Y.) 1920-1924

Image provided by: Library of Congress, Washington, DC

4
1
* Cit
Dated Jan. 1, 1
' Principal and semi-ani
York City, at the o
Legal invei
other east
I
Asse
Tota
' Sinki
i - Net
s
u The City of Mi
43, in twenty yean
for various mui
v,
f
' 't * 1921-1923 a
1924-1925 4
r
.
I) Halsey, Stua
New T
A. B. Leach
Newl
Second War
Mil
Marshall & 1
Milwa
)
i
Coupons Maturing October,
Harris, Fo
Pine Street, cornel
Ada, Minn., Independent S. D.
School Building
Anderson County, Tenn., Road
Auburn & Syracuse Elec. R. R.
1st & Ref. 5s
Batavia, 111., Bridge 4}4s
i Belton, Texas, 5s
' Berrien Springs, Mich., Water Works
Capron. Ill, H. S. S. D. No. 136 5s
' Charlotte, Mich., Sewer
' Charleston, 111., Ref.
Chickasha, Okla., Sewer
i Chickasha, Okla., Water Works
Cicero, 111., School District No. 99
Coos County, Ore., S. D. No. 41
Danville, 111., S. D.
Dayton, Iowa, Water Works
Des Moines City Ry. Co. Ref. 5s
I Dominion Pnu/er A* Trono Pn T +A
Hamilton, Ont., 5s
Donmore, Pa., 4'/28
' , Du Page Co., 111., S. D. No. 78 4'/:a
Elk Point, S. D., Elec. Lt.
Fayette, Mo., Water Works
Ford County, 111., School District 102
Fort Dodge, Iowa, Ref.
Forreston, 111., School 4'/2s
Gnlesburg, 111., Elec. Lt. Works 4s
Geneva, III., S. D. 5s
Grand Haven, Mich., W. W. 4'/js
Greenville, Tenn., Sch. Series "A" 6s
Highland Park. 111., S. P No. 107
i Home Independent Tel. C j.
Interurban Railway, Des Moines, la., 1
l?t Mtge. 5s
Independence, Iowa, School District
Knoxville, Tenn., Market School
House 6s
Knoxville. Tenn., Public Improvement
5s
Knoxville, Tenn., Viaduct 4'/;s
Lancaster, Ky? High School
Louisiana Port Commission 5s
Lamar County, Texas
j damaroneck, N. Y.. Sewer 4.55s
fadison, So. Dak., Sewer 5s
? Terchants' Heat Ac Light Ref. 5s
iidland Valley Rallioad Co. 1st 5s
Mills County, la.
i Monmouth, 111., Ref.
Monmouth, III., Water Works Ref.
Mount Airy, N. C., Water Works,
I El. Lt. Ac St. Imp. 5s
Murfrees Borough, Tenn., School
j District
Murray City, Utah, W. W.
Ntw Kensington, Pa., S. D 5s
(ABOVE COUPONS
Harris. Forhe* At Co.. I
Harris Trust & Savings
= . =
m
We take pleasure
Mr. Walter J. Murph
dated with us for i
I a member of the firn
LUKE, BANf
Members of the New
14 Wall Street
Exempt from all Fe
$5,37i
:y of Milwau
Direct Oblig
$4,170,000 6% Bonds
920, and July 1, 1920.
iual interest payable January 1 and July 1
ption of the holder. Coupon Bonds in der
stments for Savings Banks in N
ern States. Eligible in our op
Legal opinion will be 1
FINANCIAL I
ssed valuation 1919 ..,
1 bonded debt (incl. these issues)..
ing Fund......i.,
bonded debt
Population 191(
" 192(
lwaukee is required by law to
j from the date of issuance,
licipal purposes.
MATUI
$208,500 6% Bonds due each ;
20,000 5% Bonds due each ;
40,000 5% Bonds due each ;
PRI
(Accrued lntarea
it prices to yield 5.75%
" 44 44 5.60%
1932-1940 at pric
Guaranty Compa
rt & Co., Inc.
fork
& Co., Inc.
fork
d Securities Co.
waukee
llsley Bank
ukee
The above Information Is based upon official i
relied In the purchase of these Uonda. We di
1920, Payable at the Offices at
rbes & Co.
r William, New York
Normal, 111., School
Northern States Pr. Co. 1st & Ref. Ss
Oklahoma Gas & Elec. Co. 1st Mtge.
Gold Ss
Oakland, Maine
Roberts, 111., S. D. No. 116 5s
Rutherford County, Tenn., S. D. 5s
Runnells, Iowa, School
Seattle, Lighting Co., Seattle, Wash.,
Ref. Mtge. 5s
Shelby Co., Tenn., Court House
Furnishing & Fitting
South Bend & So. Mich. Ry Co.
1st Mtge. Gold 5s
South Portland, Me.
Sycamore, 111., S. D. No. 51 4'/29
Springfield Village, Vt.
Wellington, 111., High School
West Plain. Mo., W. W. & El. Light
V> 11 ces Barre, Pa., S. D. 4'/ji
Wilmington, N. C., Water 6s Sewerage
4'/js
Winnetka, 111., School District No. 36
Second
Fergus Falls, Minn., Independent
S D. Ref. 4'/2a
Popl j" Bluff, Mo., Ref.
Sixth
Henry, 111., Water Works
Lincoln, Co., Miss., Jail 4'/jS
Tenth
Fayette. Mo., Water Works
Harris Co., Texas, Road 4%s
Hill Co., Texas, Road
Morgan County, Ga., Court House
4'/j8
Bell Co., Texas, Road Dist. No. 3 5s
Bell Co., Texas, Special Road District
Scries "E"
McLellan Co., Texas, Road District
No. 2 5s
Fifteenth
Burleigh Co., N. D., Ref. 4V28
Carroll, Iowa, S. D. School Funding
Chippewa Co., Mich., Ref. 4'is
East Texas, Mich., Ref.
Islip, N. Y., Union Free School Dis- ;
trict No. 1
Kaufmann Co., Texas, Road District
Pano, 111., High School Bldg.
Sioux Rapids, la., Ind. S. D.
Sterling Twp., 111., Road 4'/2S
Warsaw, 111., Water Works
Winnesboro, S. C., El. Lt. Ac Imp. 5s
1 Winsor, Mo.
ALSO PAYABLE AT
nc., Boston Mass., and
Ranlf PKionor* Tlll^^l
in announcing that
y, who has been assonany
years, becomes
1 on October 1,1920.
CS Sl WEEKS
York Stock Exchange
New York
i
j
y
m
THE
?
deral Income Taxes
0,000
ikee, Wiscoi
ation Bonds
$1,200,000 5% Bonds
Due serially without option a
at the City Treasurer's Office, Milwauk
lominations of 51,000 and 5500,
v 1. kx i ii. r
uw a ur*v, ivia62>acnu?vLLAf v^un
linion to secure Postal Savir
furnished upon request.
STATEMENT
$588,
- 25,
,t w.e.'w 1,539,950
- 23,
) census 373,857
J " 457,147
levy taxes sufficient to retii
The proceeds of these issui
CITIES
year July 1, 1921-1940
year July 1, 1921-1940
year Jan. 1, 1921-1940
CES "
it to be added.)
1926-1929 at prices to
1930-1931 44 44 44
es to yield 5.15%
my of New York
Wm. R. Comj
Ne1
s
First Wisco:
Milv
The Merchants Loa
Chicago
statements and statistics on which we have
) not guarantee but believe It to bo correct.
! ?
,
Stone &
ENCO
147 Milk StrMt 120 Br
BOSTON NEW
___
EXAM1NATIOP
I Induatrial and Pi
REI
on Valuation and
Potter Brothe
take
in annoi
Mr. Alfr
formerly of P
has this
associated u
i
BOLES & i
Members PhUadeli
Land Tit
PHILA1
Announce the removal of
ters on the sixth floor of t
and staff correspondingly
October t, 1920.
Manager of a Spani
ence in general busines
dence in France, Italy
countries wishes first claj
eral office. Highest refer
go abroad. Only first c!
K, 710 Herald, 280 Bros
LOXDO.V M ONE V MARKET.
London, Nopt. 30.?R?r Mlver. fitted,
in ounce. Bar ?rold, 1 tSs. 4d. Money,
. V ner cent. Dlnronnt rntof?? Short
>ille, per cent. Three months
Ills, 6 H l>or cent. Oold premium at
-Ishon, 140.
I i M
NEW YORK HERALD,
V
nsin
i
.
s indicated below.
j
ee, Wisconsin, or In New
!
nacticut and
igs Deposits. ]
i
!
556,266
164,750
624,800
v
I I
e its bonds withes
are to be used
,
' yield 5.50%
" 5.25%
...? Company
w York
Itacy & Braun
New York
nsin Company
vaukee
n & Trust Co.
|
: Webster
RPORATED
otdwt; 31 Se. Daarbern ?t.
YORK CHICAGO
____i /
*S AND STUDIES
iblic Service Propertiei
>ORTS
Operating Efficiency
1
:rs & Company
pleasure
uncing that
ed Borden
rocter & Borden
day become
/ith their firm.
: i
i.
WEST WOOD
)hia Stock Exchange
le Building
DELPHIA
their offices to larger quarlame
building with facilities
increased.
I Locust 2016
TELEPHONES Locust 6748
I Race 3107
sh bank with good experis
and several years' resii
o 1 *
ana in apanisn speaking
is position in bank or genence,
with no objection to 1
lass concerns need apply. |
idway. '
i
PARIS PRICES HEAVV.
Pams, Sept. SO.?Prices were heavy r
on the Bourse to-day. Three per cent, r
rentes, 54 francs 42 centimes. FJxchanijo I
on London, 52 francs 27 centimes. Five <1
1 er cent, loan, *5 francs 67 centimes, r
The dollar, 15 fr*ncs 5 centime*. , h
FRIDAY, OCTOBER 1,_
BANK EXPECTS NO [
LONG DEPRESSION |
National City Says Too Much
Work in Sight and Crop
in Barns Too Big.
PBICE BOOM HAS PASSED
Reductions Have Gone About
us Far as They Will in Near
Future, Is Asserted.
That too much employment Is In sight
in this country and too big a crop in
barns for a prolonged period of depression
is the opinion of the National City
Bank, which says in Its monthly letter
stiued to-day that in industries most
disturbed price reductions have gone
about as far as they will go in the near
future and that some prices which have
dropped to prewar levels may recover
rart erf their lost ground. Discussing
general trade and industrial conditions
the bank says:
"The developments of the month have
strengthened the general conviction that
the boom period in prices Is over and the
country settling down to conditions more
normal than those which prevailed in
the last half of 1019 and the early
months of li'20. The day of competition
among dealers for goods at any price
and among employers for laborers at
any wage has passed.
"There Is good buying power In the
country yet, but the keen edge Is off.
The feeling is that from now on there
will be enough of everything to go
around and that most things will be
cheaper rather than dearer, all of which
is good reasoning. War conditions do
not last always. Imports in the first
seven months of this year were $3,481,000,000,
against $ 1,954,000,'000 In the
si.me months of last year. The crops
are large and the cost of living lower
than last year. The argument for wage |
increases based on the cost of living
works both ways and the argument of
diminished demand for goods and diminished
employment is one of the most
convincing In the world. It cannot be
answered or put aside. It looks everybody
in the face until something is done
about it."
The bank reports a small percentage
of unemployment and says that the percentage
is not likely to increase. It
makes that point despite the fact that
a large number of wage earners have
been laid off In the tire factories, shoe
factories and textile mills and that locatrade
has been affected to some extent
thereby. It Is also pointed out that payments
through banks are about on a
level with those of a year ago, and
throughout the West there Is entire confidence
in the future. The railroad*
handled more freight in August than
they did in any other August. Discussing
factors that may check the downward
price movement, the bank said:
"There is good reason to think that
in the industries that have been most
disturbed the price reductions have gone
about as far as they will in the near
future. Other industries must expect to
contribute their share In the general re
adjustment, ana tne more readily tney
do so the better all uround. These j
price reductions have not yet been re- '
fleeted in retail prices everywhere, but
that, too. is a development on the way
and which the enterprising, public spit- I
ited merchant will want to hasten.
"There Is always difficulty in managing
a downward movement. Once
confidence in prices is unsettled suspicion
is alert. Huyers are wary at any price.
It is a mistake, however, to think that
prices?at least the average of prices? .
may slump back to anything like prewar
figures. They have almost done so
In some lines, but these prices will probably
recover a part of the lost ground.
There are too many factors In the situation
to permit of complete readjustment
at once. It will be a time process.
"The business community does not
like the idea of doing business on a declining
market, but that is the prospect
for some years to come, and business
must plan for It. Where retail prices
reflect all the reductions that producers
have been obliged to take the cost of living
w tli be materially lower than It was
at the high point, but It will still be a i
long way above the prewar level. It Is-j
not certain that all of the recent reductions
can lie maintained ; this Is the season
when food Is cheapest. A fair start
has been made, and a revival of activity)
in the trader most affected Is desirable i
and probable. We adhere to our opinion I
that there Is too much employment in |
sight In this country, and too big a crop J
In the barns, for a prolonged period of
depression."
CHICAGO BANKERS TO
AID GOODYEAR TIRE CO.
Receivership Avoided by New
Financing Plan.
The Goodyear Tire and Uubber Company
has been saved from a possible receivership
and from a probable readjustment
or reorganization by the action of ;
Chicago bankers, who have decided to I
V, >, rwl n?n' OnfinMn.r fnr thnl i
according to Information received in I
Wall .Street yesterday. The difficulties '
confronting the Goodyear company have J
been a matter of discussion for consider- :
able time, and the facts became no well
known as to cause the publication In '
Chicago of a receivership story.
Plans for the new financing have not '
completely matured, hut certain Chicago
Institutions are committed to a plan to
raise ut least $2,',00h,000, and In some
qunrters it Is said that the new financing
may aggregate f10.o00.000. Despite the
decision of Eastern bankers to the effect | m
that they could not see their way clear '
to finance the Goodyear company's re- i
qulrements, the story that a receivership!
was being considered was nt no time;
warranted by th? exact situation, and
the worst that could happen was a re-1
organization and readjustment similar;
to the one of the Maxwell nnd Chalmers
companies. Such a step hns been averted
and an early announcement from Chicago
Is anticipated.
Although Eastern bankers will not
be the principals In the financing,
which Is expect--1 to be undertaken ;
under the leadership of the Continental
and Commercial Trust and Savings
banks and others, they will exetend
full measure of cooperation with the
Western concerns In solving the problem
which has been Impending for
considerable time. The Western banks
took the point of view that the company
had weathered the peak of the
troubles caus< d by high Inventories and
aluKclsh movement or Ha product*,
pointing otit that the compnny was
reducing It* Inventories rapidly, inanufactuHriK
16,<100 tire* a day and se||.
Inu 2o.oor.
Tho Ooodyear company haa no funded
leht and heretofore haa consummated
til Ita financing through sale* of stock.
5nly a few montha ago It offered 120 mo.<100
of preferred atork and 110 OoO.oon
it common Stock to old holder* at par
'or a block of atook constating of two
hare* of preferred and a share of
ornmon. The company alao paid las'
hily a atock dividend of 150 per cent.
,n*t October the company'* Inventorle*
i mounted to $35.566.779, the largest on
eoord, and It la understood that fhoae
nvenforlea were Increased rather than
limlnlshod during the Intervening
nonths until recently, when the tide
icgatl to turm.
J
jW
1
Your Statemei
-n T! ^ _ r
int: jrirsx 01
IT is little things lil
which reflect the spii
at the United States
Statements covering
interest credited to tl
together with check
mailed to depositors <
of every month.
At each of our four
friendly courteous spi
stand your financial
them, and to aid y<
limits that sound co
permit.
We shall be glad to
you to discuss your
Unitec
Mortgage &
Capital and S
55 CE
Broadway at Madi;
73rd St. at 71
J?
f? * r r v v v
Exempt from reaerai ana
WE <
High Grade
MUNlCiF
Maturing from Dec. lc
To Yield b.8(
These Notes, being fre
York State Income Ts
equivalent of 6$% to a
pendent upon income i
investment.
DISCOUI
.
SALOMON BRi
Members of the Ne*
New York Office
27 Pine Street
TELEPHONE?John 6300
Skelly Oil
For the second quarter, 1920. net
annual rate of 26%. This is exi
The affiliated refinery interests <
ing Company of El Dorado, Kar
pany at Burkburnett, Texas, are
of crude per day.
Reports from Company clearly
month in earnings.
The management is recognized a
The assets of the Company an
steady growth of producing pro]
This Company is on a solid
investment.
J. R. Brid^
HI Broadway
J
_
17
- i
n ;
M '
pKBP"
it on Your Desk
Every Month
ce that, little courtesies
rit of service you will find
Mortgage & Trust Co.
deposits, amount of
le account, and balance,
:s separately listed, are
in the last business day
offices you will find a
rit of wanting to underproblems
as you see
iu to the farthermost
nservative banking will
have you call, or call on
banking arrangements.
] Skies j
lrujt Gompejiv i
lurplus, #6,000,000 '
DAR ST.
?on Ave. 125th St.
5 th St. at 8th Ave.
? ~
1 I]
New York State Income Tax
OFFER
h Short Term
>AL NOTES
1920, to Aug. 31, 1921
\rrr rr? a
jyo ~er Hiinum
e from Federal and New
ix, yield the investor the
bout 23% per annum, deis
compared to a taxable
MT HOUSE
OF
OS. & HUTZLER
<t York Stock Exchange
Boston Office
35 Congress St.
TELEPHONE?Main 5220
I Company
earnings were $983,130.84 or at the
elusive of refinery profits.
jf the company, the Midland Refin- V
isas, and the Nortex Refining Com- I
operating at capacity, 6,000 barrels I
indicate continued increase each I
H
is the best obtainable. I
e being substantially increased by I
perties, with ample acreage reserve.
foundation and offers attractive I
oford $ Co. I
New York