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The New York herald. (New York, N.Y.) 1920-1924, November 09, 1920, Image 14

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F "
I Munds,
Rogers &
IS'' Stack pole
i II
Philadelphia |
|JK Company
of Pittsburgh |
Our speeta. letter, ,
sent upon request,
discusses this property.
MEMBERS
N. Y. Stock Exchange
[ N. Y. Cotton Exchange
Chicago Board of Trade
25 Broad St.
Uptown Office
16 Vanderbilt Ave
M6L_ [ I
6%
Public Utility Bond
To Yield About
7%
Company reports earnings for
12 months ended June 30, 1920,
equivalent to more than twice
entire bond interest requirements
! for that period.
Replacement value of properties,
as officially reported, largely in
excess of total bonded debt out!
standing in the hands of the
i public. Over 80% of the power
generated is hydroelectric.
Write for Circular 1726
Describing These Bonds
Spencer Trask& Co.
25 Broad Street, New York
A1JIANY BOSTON CHICAGO
Members New York Stock Exchange
Members Chicago Stock Exchange
! yrxXrrewxr girvxrOct /
v
LUVKKSIME.U
KINGDOM OF DENMARK
R% External Gold Bonds. Due lM1! i
to jltld about 7.95%
ANACONDA COPPER MINING CO. |
Secured Oold Bonds. Series B ;
Due 1029
to yield about <N?~i
PENNSYLVANIA-OHIO POWER &
LIGHT COMPANY
7?% Gold Bonds?Due 1940
to yield about 7.84%
' li e recommend for investment.
I Circulars upon request.
The National City
Company
; Main ofllre:
National City Hank Building.
I I lean Cflce: Fifth Ave. A 43rd St.
"a ???^1
Chicago & Erie
Railroad Co.
! 1st Mortgage Ss9 due 1982
I I
Ret tired by n First and "closed" ;
Mortgage on 250 miles of double ,
trorked mad from Marlon, Jet., |
flhlii. 1a the Indiana.Illinois State 1
line, near Hammond. Ind.. al*o I
upon nil rtghte to the uw of thf I
C'hlrnffo a Western Indiana R. R. I
from tin- Indiana-Illinois State
line to Chlraio. III., nnd terminal
furilltlee In (.'tiirugo.
Th?r bonds nre outstanding at
the low rate of >411.077 per mile,
and the railway covered forme nn
Indispensable pnrt of the F.rie
? Railroad t'o.'n tlirongh main line
: i between Jersey City and t hlrago.
Price 8334 ai,d Intere?t,
to yield 6%.
"WE Carnegie Ewen
Investment Rrrnritirit
? UAI.I. ??T.. NF.W YORK
Tel. Ret tor S273-1
I
WE. are offer ng a varied
list of high-grade railroad
bonds which we shall
be pleased to submit to
investors upon request and
without obligation.
olgafe, Parker & Co.
9 Wail Street New York
Bankers Trust Co.
Borden Co.
lv . Y. N. ' '.S/liurt D< * s
WcCLU??^ JO i " "? R KEE3
Mrmhr'? Xeu V ' rr?orttfr
ii.. n.t. . i on i? (? t.?
r
- ? - - -"
FINANCIAL NEWS
1 AND COMMENT
Wave of Selling; Carries Prices
Down Without Any Significant
Rally.
LEATHER STOCKS HOLD UP
Public Utilities Resist General
Trend, as Do Some of the
Rail Issues.
Any one who had watched the action
I of stocks In the lost hour of Saturday's
I market could scarcely have expressed
I surprise over anything that occurred In
j yesterday's trading. The Indications
were very plain on that day that the
market had started a new downward
movement, and If those Indications had
been misunderstood It was only necessary
to glance over the Sunday papers
for evidence of fresh material for the
i bear conrlncenf The Kunitnv nnr>er?
were literally full of plant shutdowns.
; of price cutting and bearish Interviews
with persons prominent In the business
world, and on top of them came two
very unfavorable bank statements. Those
statements actually were not much
changed from the preceding week, but
they showed conclusively that It was
virjyilly Impossible to have easy money
for the next few days at least, and thai
fact In itself made the bear position
more secure than It would have been
under ordinary circumstances.
The net result of that combination of j
developments was a wave of selling at j
the very start that carried prices down |
anywhere from a point to 4 points and
more. Although the first hour was the
day's weakest period, there was no rally
worth speaking of at any stage of the
proceedings. It appeared to be a case,
Just as It has been on at least eight
other occasions this year, of letting the
market run Its own course and as to
how far the selling would go before It
was counteracted by scale buying, which
Id going on Just under the current range
of quotations. There were no indications
that that buying was coming in In sufficient
volume yesterday to stem the tide,
but there were, nevertheless, a good many
Ibsucs that appeared to be selling under
their Intrinsic worth at the close. Still
the movement admittedly had not been
fullly completed in some directions, and
it appeared to conservative Interests until
that selling has fully run its course
there was not much use of expecting a
rally of substantial proportions.
It was noticeable that the leather
stocks were among the most prominent
of those Issues which resisted the downward
movement. The leather stocks, it
I will be recalled, were among the first
to go down last fall when the movement
started. Consequently it was natural
that they shoud show signs of coming
back first. The public utility Issues also
stood out against the general trend, as
i uiu certain raus or me type 01 Bouuiem
Pacific. The general railroad list, however,
went down along with the Industrials,
but It was merely a question of
conserving profits and buying them back
as cheaply as possible. In the rest of
the list tho liquidation was real, and
it was especially heavy in the oils, steels,
rubbers, specialties, &c. Steel common
was sold throughout the day, and at the
close It was only a matter of a fraction
above the low of the year. The
independents, however, were nearly all
at new lows for the year, as were the
motor stocks. General Motors was
j dumped overboard in large blocks again,
I and sold at the equivalent of 150 for
the old stocks.
The money situation operated against
: the market all day, as might have been
i expected in view of the decline in rei
serve ratios on Saturday and tho deficit
| in surplus reserve in the Clearing House
I statement. The high was 10 per cent..,
as was the case ail last week, but. as
Indicating the money market of the
future, It was significant that the Government
did not announce any further
withdrawals for to-day. This will mark
the first time In several weeks that the
Government has not withdrawn from
the banks on Tuesday, but It is doubtful
whether this will result in easier
money to-day. Very serious attention
was again given to the exchange markets,
in which another severe break
occurred again In sterling. That exchange
sold yesterday at Us lowest
since la6t March, and, what Is more,
foreign exchange bankers were not convinced
that the downward movement
had fully run Its course, because the
movement of exchanges reflects seasonal
operations which usually take a
long time to run their courses.
MONEY AND EXCHANGE.
CALL MONET.
High 10! Last 10
Low 9 Renewals 9
Year's high 25 Year's low 6
CLEARING HOUSE STATEMENT.
Clearing House exchanges, $034,357,214;
balances, $101,183,700; Sub-Treasury debit
balances, $450,288; Federal Reserve credit
| balances, $101,0.10,408.
SII/VER MARKETS.
I Official bar silver In New York: Domestic,
OPHc. P?r ounce, unchanged; foreign. 8044c.,
! off 114c.; London. 53Ttd., off V4d.; Mexican
dollar, BIHc.. off 1<4c.
CANADIAN EXCHANGE.
New York funds In Montreal, $110 premium
per *1 ,000: Montreal funds in New York,
$99.10 per $1,000
FOREIGN EXCHANGE.
GREAT BRITAIN.
Parltv. Monday.Saturday.
$4.8005 Demand, sterling !3.3$<4 $3..Wi
Cables, sterling .... 3.34 3.37
Rankers, 00 days.... 3.294, 3.32k,
Hankers, 90 days.... 3.2744 3.30',
THE CONTINENT.
19.30 France, cents a francDemand
5.75 5 94
Cables 5.70 5.95
19.50 Belgium, cents a francDemand
0.11 0.32
Cables 0.12 0.33
19 10 Switzerland, cents a francDemand
15.03 15.37
Cables 15 06 15.40
16.30 Italy, cents a liraDemand
3.38 3.47
Cables 3.39 3.48
23.80 G- rmany, cents a markDemand
1.10 1.21
Cables 1.11 122
10 R0 Sweden, cents s krone?
Pamand 18.55 18.80
Cable* 18.00 1H.85
20 80 Norway, cent* a krone?
Pamaid 13.05 13.23
Cable* 13.10 13.28
28.80 Denmark, cent# a krone?
Demand 13.07 13.23
Cable* 13 12 13.28
18.30 ilrwft,' cent* a drachma?
Demand 0.23 0.30
Cable* 0.30 9.35
| 19 30 Spain. rant* a peaeta?
Demand 12.81 13.14
Cabin* 12.35 13.18
i 40.20 Holland, cent* a florin?
Demand 20 23 20.72
Cable* 29.35 29.82
51.48 Ru**1a, cent* a ruble?
inn ruble* .80 .85
500 ruble* 85 .70
20.3 Austria, cant* a crownPnmarid
204 .30
Cable* 29H d0V4
20 28 Cracho-Slovakla, cent* a rrown?
Pamand 1 08 1.11
Cable* 109 1.12
10 30 Rumania, canf* a lei?
Pamand 1.30 1.53
Cable* 1.51 1.64
FAR EAST.
108.32 Shanghai, cent* a tael?
Pamand 94.00 04 00
Cahla* Or, 00 95.00
78.00 Hongkong, cent* a dollar?
Pamand 70.30 70.50
Cabla* 71 00 71.00
! 48 08 l umbay, cent* a rupee?
Pamand 30 23 80.23
Cable* 30.50 80.50
10 84 Yokohama, cent* a yen?
Pamand 50.75 60.76
Cable* 31.00 61.00
SnttTH AMERICA.
32 41 Rln <v Janeiro, cant* a mllrel*?
Prm*ud 18.75 17.124
fable* 18 874 17.23
4? I" l u nn.? Aire*, cent* a pe*o?
pamand 34 05 84.30
CaMi 34.16 34.824
103.42 Vruguay. cent* a dollar?
p nmnd 79.50 80 00
Cablet 79.76 60.25
I /
THE NEW
NEW YORK
192
Pay'a sales 1.179,
Oloeln*. -.IDIv. I
hill. I Ask. |ln >. Sales. ( I
32% 34 .. 300jAdams Express
25% 27 .. 400 Advance Rumely
67 59 6 100 Advance Rumely pf
37 38 6 600 AJax Rubber
1% 1% .. 200 Alaska Gold M
1% 1% .. 1200 Alaska Juneau Q M
74 .. 6 100 Alliajice Realty
61 66% .. 900 Allied Chem & Dye w 1..
80% 31 4 400 Allts Chalmers Mfg
72 75 7 200 Allla Chalmers Mfg pf...
73% 74 8 1600 Am Agric Chem
82% 86 6 100 Am Agric Chem pf....t.
46 49% 4 100 Am Bank Note
67 68 8 2200 Am Beet Sugar
69 70% 10 900 Am Bosch Magneto
48 49 4 100 Am Brake Shoe & Fdy..
28 28% .. 4100 Am Can
85% 87 7 300 Am Can pf
130% 131 12 4600'Am Car & Foundry
107 110 7 100|Am Car & Foundry pf...
23 24 .. 200|Am Cotton Oil
9 9% 80c 2700!Am Druggist Syndicate..
9% 9% .. 3001 Am Hide & Leather
66 57 7 lOOOlAm Hide & Leather pf..
41 42 4 900! Am Ice
68 59 6 200'Am Ice pf
64 64% 6 12800]Am International Corp.,
9% 10 1 200lAm La France Fire Eng.
64% 65 3 2000 Am Linseed Co
88 92 7 200 Am Linseed Co pf
92% 92% 6 3700 Am Locomotive ]
100 101% 7 100'Am I/ifinmntlvo rvf.
26%! .. .. 20o!Am Malt & Grain 1
12% 12% .. 200lAm Safety Razor
14% 14% .. 41001Am Ship & Commerce...
57% 57% 4 2800 Am Smelt & Ref
100 105 12 2001 Am Snuff
79 87 6 100'Am Snuff pf
34% 35 3 2700 iAm Steel Foundries
101 % 1102% 7 1400) Am Sugar Ref
80%! 82 I 10 1400!Am Sumatra Tobacco....
48 | 51 | 61 3001 Am Tel & Cable
99% 1100% 8 1100 Am Tel & Tel i
119 1119 % 12 1900 Am Tobacco j
118 1119 12 1100 Am Tobacco B
60% 60% 7 15500 Am Woolen
92 93 7 100 Am Woolen pf
43% 44 .. 100 Am Writing Paper pf...
9% 10 .. 1400 Am Zinc, L & Smelt
60% 50% 4 6900 Anaconda Copper
3% 3% 500 Assets Realization
57% 63 6 100 Asso Dry Goods 1st pf...
57% 63 6 20 As D Goods 1st pf s 30 f
110% 112 6 400 Associated Oil Co
86% 87% 6 8600 Ateh, Top & Santa Fe...
77% 78 5 100 Atch, Top & Santa Fe pf.
8% 9 .. 400 Atlanta. Blrm & Atl
95 96 7 100 Atlantic Coast Line
15% 16 .. 400 Atlantic Fruit
124 125 10 10300 At, Gulf & W I S S
60 62 5 700 At, Gulf & W I S S pf. ..
107% 107% 7 39800 Baldwin Locomotive Wks
A K1/ c
/4k I /3| uovv I XJfll V11XIUI W OC V^ItiU
52 | 53 4 700[Baltlmore & Ohio pf
104%'106 7 100 i Barrett Co pf
104,% 106 .. 100|Barrett Co pf Ch Con ctfs
% 1% .. 300|Batopilas Mining
37-6 4 .. lOOlBethlehem Motors
61% 63% 5 400(Bethlehem Steel
103% 105 8 500]Bethlehem Steel 8 p c pf.
64 64% 5| 20000[Bethlehem Steel B
5% 5% ..] 400lBooth Fisheries
13% 14 .. 2200[Brooklyn Rapid Transit..
8% 9 .. 500[Brooklyn R T ctfs of dep
6 i 6% .. 300 Bruns Term & R R
91 I 93 10 lOOjBurns Bros
12%| 13' .. 100|Butterick Co
6%t 6% .. 400iButte Copper & Zinc....
16 16% .. 600[Butte & Superior Cop...
17 18 .. lOOOiCaddo Cent, O & R
66% 67 I 6 6200[California Pack Co
23% 24%] .. 200 California Petrol
67% 69 [ 7 300[California Petrol pf
122 122% 10 118001 Canadian Pacific
39% 39%; .. 4100|Central Leather
91 94 7 200 Central Leather pf
38 38% 4 800 Cerro de Pasco Cop
75% 76 101 3300iChandler Motors
67 67% 4 3200 Chesapeake & Ohio
100 Chicago & Alton pf
10% 11 .. 2400 Chicago Gt Western
27% 27% .. 1100 Chicago Gt Western pf..
41 41% .. 4500 Chicago, Mil & St Paul..
61 Ms 61% .. 3200 Chicago, Mil & St P pf..
80% 81% 6 2000 Chicago & Northwestern.
74% 75 8 1100 Chicago Pneumatic Tool.
35% 36 .. 6500jChicago. R 1 & Pacific...
60% 70% 6 100 Chi, R I & Pac 6 pcpf..
80 80% 7 900 Chi, R I & Pac 7 p c pf..
14 14% .. 1300 Chile Copper
24% 25 1% ISOOChino Copper
54 56 8 200jCluett, Peabody & Co....
25% 26 .. 83001Coca-Cola
30% 32 3 400ICol Fuel & Iron
30% 32 3 50l*Col Fuel & Iron
31 32 .. 800 Colorado & Southern....
67 57% 5 400|Columbla G & Elec
16 16% 1 6900lColumbia 'Graphophone .
63 63% 7 2001 Consolidated Cigar
87% ! 88 7 9001 Consolidated Gas
7% 7% 2 600 Con Interstate Cal Min..
20%: 21% 3 600lConsolidated Textile ....
71%I 73 7 100'Continental Can
9%| 9% l! 1200 Continental Candy
76% I 76% 4 16200 Corn Products Ref
100%1101 7 300 Corn Products Ref pf....
36 36% 12% 2200ICosden & Co
113 113% 8 15100jCruclble Steel Co
90 91 7 300 Crucible Steel Co pf
37 37% 7 1600!Cuban Am Sugar
81% 32% .. 5900jCuba Cane Sugar
72 72% 7 300jCuba Cane Sugar pf
35 37% 1 lOOi Davidson Chemical
104% 104% 9 300 Delaware & Hudson
240 1245 10 300 Del, Lack & Western....
1% 1% .. 1200'Denver & Rio Grande
2% 3% .. 2400 Denver & Rio Grande pf.
12% 12% 1 1000(Dome Mines
5% 6 .. 100|Duluth, S S & Atl
8 9 .. 100 Duluth, S S & Atl pf
19- 20 .. 900 Elk Horn Coal Corp
60 62% 5 1500 j End Icott Johnson
90 92 | 7 lOOiiSndlcott Johnson pr
17 17% .. 2900 Erin
26V* 27 .. 1000 Erie 1st pf
19% 20 .. 1001Erie 2d pf
63 64 8 900 i Famous Players-1-.asky ..
78Vi 80 8 lOO'Famous Players-L? pf....
31 32 71 200, Federal Min & Smelt pf.
93 102 10 200 Fisher Bod> Corp
19% 19% 3 2500 Fisk Rubber
18 18% .. 1600 Freeport Texas
4%( 4% .. 300 Gaston W & Wlgmore...
60 62 2 350 Gen Am Tank Corp
60 1 60%[ fij fiOO General Cigar C'-o
130Vi 137 i 8i 2000iGeneral Electric Co
14% 15 ; 1 49300 General Motors
69 70 r 100 General Motors pf
65 66% 6 1400 General Motor Corp deb.
75 j 75% 7| 700IG Mot Corp deb pf 7 p c.
47%i 47%| 6! 2200:Goodrleh (B F)
23% 28 ! ..] 200jOranby Consol M & S...
88% 89 I 71 6600 Great Northern pf
33 33%) 4 1000|0reat Northern Ore ctfs.
25 27 2 200|Greene Cananea Cop....
16% 17% 2 300'Guantanamo Sugar
28 30 .. 300 Gulf, Mobile & North pf..
41% 43 .. 600[Gulf States Steel
19 20 .. 800jHendee Manufacturing ..
61 62% 4 1900 Haskell & Barker Car....
48 65 I .. 100|Homestake Mining
13 13%! 1 700)Hupp Motor
95% 96 I .. 8200;Houston Oil Co
7% 7% i60c 600llndiahoma Ref
15 16 1.20 500, Indian Refining
40% 41 4 2000,Inspiration Con Copper..
5% 5%I .. lnOO Interboro Con Corp
14% 15 | .. 1300'Intert>oro Con Corp pf...
65 66 5 400 Int Agrl Corp pf
102% 103 7 1900 Int Harvester Co new...
15% 16 .. 5700 Int Mer Marine
62 62%' 6, 10900 Int Mer Marine pf
I - - * I I .AA T_a? Trtick
35% 35 .. OW iiiu;r ? ?
60 83 7 200lint Mortor Truck 2d pf.
16% 17 .. 61001 International Nickel ....
67 57% .. 7500 International Paper ....
29% 29% .. 6200 Invincible Oil
36 k33 ? .. 800!Iron Products Corp
6%P 45^ 4800[Island Oil ft Trans Corp.
4% ^,6% .. 400 Jewel Tea
12% 12% .. lOOj.Tewel Tea pf
23% 23% .. 36001 Knnsne City Southern...
48 48% 4 600!l<nnsas City Southern pf.
75 90 8 100 Kayser, Julius A Co
46% 47% 4 8900! Kelly Springfield Tire...
45 49 .. 300'Kelsey Wheel Co
22% 22% 2 4900 Kennecott Copper
11% 11% 1-20 4900! Keystone Tire A Rubber.
60U 61 6 lOOOLacknwanna Steel Co..
19% 20 ., 100 Lake Erie ft Western...
33 37 .. 100|Lake Krle & Western pf.j
19% 20 2 100lT.ee Rubber A Tire
53 53% 3% 700il,ehltt:h Valley
135 145 12 100 Liggett A Myers Tobacco!
130 t40 12 100 Liggett ft Myers Tob B..
20 20% 2 8700'Loews Inc
12 12% llOOH/oft Inc
133% 136 12 900jLorl!lnrd (P) Tobncoo...
106 107% 7 200 j Louisville ft Nashville...
61 63 6 200 Mackay Cos
57 57% 4! 100'Maekav Cos pf
10 16 .. 100|Malllson ft Co H It
83 86 10j 1400[Manatl Sugar
YORK HERALD, 1
STOCK EXC
MONDAY, NO>
10. 1919. 1918.
,583 1.454,300 Ex. Closed.
Open- I Low- Cloe- Net
'.r.K- I eat. | eat. lng. Change,
I 34%| 344 33% 33% ? %
! 26%. 26% 26 26 ? 1
57% 57% 57% 57% ? %
38% 38% 38 88 ? %
1% 1% 1% 1%
1% 1% 1% 1% + %
75 75 75 76 ? 8
57 57 66% 66% ? %
31 81 80% 30% ? 1%
72 72 72 72 ?8
73 74% 73 78% + %
82% 82% 82% 82% ? 1%
I 46 46 46 46 *-1
67 68% 67 67 ? 2%
68% 69 68% 68% ? 1%
49 49 49 49 ? 1
29% 29% 28% 28% - 1%
86 86 85% 85% ? %
132% 132% 130 130 ? 8
109 109 109 109 ? 1
23 23% 23 23%
9 9 8% 9 M
9% 9% 9% 9% ? %
55 56 55 56 +1
43% 43% 41 41% ? 8
58 58 58 58
66% 66% 63% 64 ? 3%
9% 9% 9% 9% ? %
65 65% 64% 65 ? 1%
90 91 90 91 +4
93 93% 91% 92% ? 1%
102% 102% 102% 102% + 1%
I 26 26 26 26 ? %
-li id 7* U '? 74
1316 15 13% 14 ? 1%
57 57% 57 67% ? %
105 105 105 105 ? %
80 80 80 80 +3
36 36 34% 34% ? 2
101% 102% 101% 101% ? %
, 81% 81% 80% 80% ? 1%
48% 50 49% 50 ? %
;100 100% 99% 99% ? %
U2% 122% 119% 119% ? 4%
119% 120% 118 118 ? 3%
63% 64 60% 60% ? 6
92% 92% 92% 92% ? %
44 44 44 44 ? %
9% 9% 9% 9% ? %
50% 50% 50 50 ? 1%
8% 3% 3% 3% ? %
58 58 58 58
57 57% 57 67%
108% 112 108% 112
87% 87% 86% 86% ? 1%
78 78 78 78 + %
8% 9 8% 8% ? %
96% 96% 96% 96% ? 1
15% 15% 15% 15%
128% 129% 124 124% ? 7
62 62 60% 60% ? 1%
108% 108% 106% 107% ? 2%
44% 45% 44% 45% ? %
53 53 52% 52% ? 1
105% 105% 105% 105%
105 105 105 105 ? %
1111
3% 3% 3% 3% ? %
61% 63 61% 63 ? %
104 104% 104 104 ? %
64 65% 64 64 ? 2%
6% 5% 5% 6% ? %
14 14 13% 14 ? %
4 0 Q 4 ? 1L
5% 5% 5% 5% ? 1%
91 91 91 91 ? 2
13 13 13 13
6% 6% 6% 6% ? %
iniy. iflu ifi ifi u.
17 17 16% 16% ? %
68 69% 67 67 ? 1%
24 24 23% 23% ? 1%
68 j 68 68 68 ? 1
124 124 121% 122 ? 2%
39% 40% 39 39% ? %
91 91 91 91 +1
38% 38% 38 38
76 77 75% 75% ? 1%
66% 68% 66% 67 ? 1%
19% 19% 19% 19% + 1%
10% 10% 10 10 ? %
27% 27% 26% 26% ? 1
41% 42% 41 41 ? %
62 62% 61% 61% ? %
81% 81% 80% 80% ? 1%
71% 74% 71% 74% + 3%
36 36% 35% 36 ? %
70 70 70 70 ? 1
80% 80% 80 80% ? %
13% 14 13% 14
24%! 25% 24% 24% ? %
54 j 54 53 54 +3
27%! 27% 25 26 ? 1%
31% 31% 30% 30% ? 1%
30% 30% 30% 30%
31% 32 30% 30% ? 3%
57% 57% 57 57% + %
16% 16% 16 16 ? 1%
64 64 63% 63% ? 1
88 88 87% 87% ? %
7% 7% 7% 7%
20% 20% 20% 20% + %
71% 71% 71% 71% ? 2%
9% 9% 9% 9%
78 78% 76% 76% ? 2
100% 100% 100% 100% ? %
36% 36% 35% 3Mi ? %
114 116% 113% llf% ? 1%
90 90 90 90
37% 38 37 37 ? 1
33 33% 32 32 ? 2%
72% 72% 72 72 ? 1
35 35 35 35 ? 2
104 104% 104 104% ? 2%
239 239 239 239 ? 6
1% 1% 1% 1% + %
2% 3% 2% 2% ? %
12% 12% 12% 12% ? %
6% 6% 6% 6% ? %
8% 8% 8% 8% ? 1%
20% 20% 20 20 ? %
63 63 62 62
92 92 92 92 ? %
17% 17% 17 17 ? 1
26% 27% 26% 26% ? %
19% 19% 19% 19% ? '%
67 67 65 65 ? 2
79 79 79 79 ? %
30% 30% 30% 30% ? 1%
100 100 98% 98% ? 1%
19% 19% 19% 19% ? %
20 20 18 18 ? 2%
4% 4% 4% 4% ? %
60% " 60% 59%' 60 ? 1%
60%! 80% 60 I 60 ? 1
137% ! 138 Il36% 136% ?2%
15% I 16% 14%! 14% ? %
63% I 63% I 63% B3%| ? %
66% <56 % 65% 65% ? 1%
76 76% 75 75 ? 1%
46% 47% 46% 47 + %
23% 23% 23% 23% ? 4%
S3 88% 87% 87% ? 1%
33% 33% 33 33 ? %
25% 25% 25% 25%
16% 16% 16% 16% ? %
30% 30% 30% 30% ? 1%
41% 42% 41% 41% ? 1%
20% 20% 20 20 ? 1%
63 63 61% 61% ? 2
48 43 48 48 +3
13 13 12% 13
98% 100 95% 95% ? 5%
7% 7% 7% 7% ? %
16 16 16 16
42 42 40% 41% ? %
5% 5% 5% 5% ? %
15% 15% 14% 14% ? %
66 67% 85 65 ? 8
102% 104 102 102% ? 1%
16 16% 15% 15% ? 1
65% 65% 62 62% ? 4%
36% 36% 35% 85% ? %
62% 62% 62 62 ? 1
16% 17 16% 16% ? %
57% 59 56 57 ? 1%
29 29% 28% 29% ? 1%
36% 37 36 36 ? 1
5% 5% 5% 5% ? %
4% 4% 4% 4% ? %
12% 12% 12% 12% ? %
23% 24 23% 23% ? %
48%, 48% 48% 48% ? %
78 78 78 78 ? 2
47 I 47% 46% 47 ? %
47 I 47 46 46 ? 3%
22%I 22%' 22% 22% ? %
11%! 12% n% n% ? 1%
60% | 61% 60% 60% I ? %
19%; H>% 19% 19%! ? %
36% 36%, 36% 30%; + %
19%: i?% 13% 19%1 ? 1%
63% 53%! 53% 53% ? %
143% 143% 143% 143% ? %
137 137 137 137 ? C
20 20% 19% 20% ? %
12% 12% 12 12 ? %
135% 135% 133% 183% ? 4%
107% 107% 107% 107% ? %
63% I 63% 63% 63% + %
57%; 57%| 57% 57% - %
14 I 14 ! 14 14 ? 1%
85 J 35%| 85 85 ? 3
rUESDAY, NOVEMBER 9, 1'
:hange quotati
i'EMBER 8, 1920.
1920.
Year to date 181,582.964
Cloning.?>|Dlv. |<
Bid. | Aak. |ln $. Sales. |_
68% 60 7 400'Manhattan Elev guar....
18*4 19 Vi 1% 100 Manhattan Shirt
17% 18 2 400 Martin-Parry Corp
74 77 8 500 Maya Dept Stores
176 176% 12 45100 Mexican Petroleum
19 19% 2 400 Miami Copper
72% 73 1.60 18100 Middle States Oil
87% 37% 4f 4300 Mldvale Steel & Ord
17% 17% .. 1200 Minneapolis & St L new..
4% 4% .. 1700 Missouri. Kan & Tex
8 8% .. 1300 Missouri, Kan & Tex pf..
25% 26 .. 4500 Missouri Pacific
48% 48% .. 6100 Missouri Pacific pf
20% 23 .. 1700 Mont Ward & Co
26 28 4 800 Mulllns Body
32 33 3% 900 National Acme Co
56 67 .. 700 National Aniline & Chem.
66 67 .. 200 Nat Ani & Chem ctfs
90 90% 7 200 Nat Ani & Ohem pf
102 104% 7 200 National Biscuit Co
81 82 .. 500 National Cloak & Suit...
5 5% .. 400 National Conduit & Cable
63 64 6 700 National Enam & Stamp.
89 92 7 200 National Enam & St pf.
72% 73% 6 700|National Lead Co
6% 6% .. 700:Nat R R of Mex 2d pf...
11VA 11% 1 300jNevada Con Copper
67 59 6 600'New Orleans, Tex & Mex.
93% 94 10 200iNew York Air Brake
80% 80% 6 108001 New York Central
57% 68% 500lNew York, Chic & St L..
66 73 5 lOOjN Y. Chic & St L 2d pf..
OA OK fOlZl 1 A A1 XTa*.
j 30% 31 ..I 540olNew York, N H & H....
22% 22% ll 1100 Now York. Ont & West.
I 99 99% 7 300'Norfolk & Western
65 68% 4 24 Norfolk & West pf s 30..
90% 91% 7 26100 Northern Pacific
38% 39 5 2700 Nova Scotia S & C
16% 18 2% 100 Ohio Body & Blower Co.
3% 3% 40c 4000 Oklahoma Prod & Ret...
125 131 8 300 Otis Elevator .
19% 20 .. 2000 Otis Steel
82 101 7 100 Otis Steel pf
60 52 3 300 Owens Bottle Co
4 100 Pacific Coast
23 23% .. 900 Pacific Development ....
79% 80 6 34200 Pan Am Petrol & T
73 74 6 1800 Pan Am Petrol & T B...
23 26% 4 100 Parrlsh & Bingham
85 92 7 lOOlPenney Co J C pf
42% 43 8 1400|Pennsylvanla R R
13% 14% .. 800|Penn Seaboard Steel....
41% 42% .. 1000 People's Gas. Chicago...
24 24% .. 2800|Pere Marquette
38% 38% 3 22001 Philadelphia Co
78 81 7 3001Phillips Jones pf
34% 35 .. 600lPhillips Petroleum
24% 24% .. 10600|Pierce Arrow Motor
78 85 8 400|Pierce Arrow Motor pf..
13% 13% .. 1400 Pierce Oil Corp
61% 62 5 2800!Pittsburg Coal of Pa....
32% 33 1800 Pittsburg & West Va....
77% 80 6 lOO'Pittsburg & West Va pf.
15% 16 1 2001 Pond Creek Coal
93 ~ 93% 8 800'Pressed Steel Car
109 109% 8 900|Pullman Co
61 62 8 8000lPunta Alegre Sugar
88% 38% 4 8400)Pure Oil
91 92 8 600lRailway Steel Spring....
105 106 7 200lRailway Steel Spring pf.
13% 13% 1 1000(Ray Consol Copper
98% 98% 4 35500lReading
57 57% 2 8001Reading 1st pf
K7 U. 68 9. M ..f
40 44 .. lOolRemington Typewriter ..
70 71 .. 3100iReplogle Steel I
30 30% .. 1300iRepublic Motor Truck...
71% 72 6 10800lRepublic Iron & Steel....
92% 93 7| lOOlRepubllc Iron & Steel pf.
69% 69% 15.20 22500[Royal Dutch Co N Y
28% 28% ..J 40001 St Louis & San Fran
82% 33 .. 2200[St Louis Southwestern..
44 45 .. 1000 St Louis Southwestpf....
7% 7% 1 900!Santa Cecilia Sugar
19% 20% .. 2001Savage Arms Corp
4% 4% .. 1200[Saxon Motor
8 8% .. 900|Seaboard Air Line
16 17 .. 400 Seaboard Air Line pf...
104% 105% 8 2700 Sears Roebuck Co
102% 105 7 500 Sears Roebuck Co pf....
21% 21% .. 4800 Seneca Copper
7 7% .. 300iShattuck Ariz Cop
44% 45 74c 2900)Shell Trans & Trading...
30% 31 .. 20200[Sinclair Consol Oil
56 57 6 400)Sloss-?heffield S & I
114% 114% 6 110000[Southern Pacific ........I
28% 28% .. 15200| Southern Railway ... ...|
63% 64 61 ZOO I Southern Railway pf....
630 640 20 154 Standard Oil of N J
630 640 20 5 'Standard Oil of N J
105 105% 7 1000 Standard Oil of N J pf..
84 87% 7 200 Stool & Tube pf
28% 28% 4 300[Stewart Warner Speed...
59 59% 4 4000 Stromberg Carburetor ..
54 54% 7 16600|Studebaker Corp
11% 11% .. 300 Submarine Boat
17% 17% 2 200:Superior Oil
97 98% 8 100'Superior Steel Corp 1st pf
35% 36 4 300[Temtor Corn & Fruit A..
11% 11% .. 1800jTenn Cop & Chem
48% 48% 3 29400 Texas Co
27% 28 1 1200 Texas Pac Coal & Oil
24% 24% .. 8400 Texas & Pacific
17% 17% .. 1400|Thlrd Avenue
206 215 8 100.Tide Water Oil
15% 15% 2% lOOjTlmes Sq Auto Supply..
62% 63 6 3500(Tobacco Products
12 14 200|Tol. St L & W ctfs of dep
18 21 .. 100[T, S L. & W pf ctfs of dep
12 12%' .. 4500[Transcontinental Oil ....
41% 42 6 900lTransue & Wms Steel...
78 80 8 200 Union Bag & Paper
27 27% .. 2300 Union Oil
125 125% 10 7400 Union Pacific
65% 66 4 200 Union Pacific pf
33% 35 4 700 United Alloy Steel
105 106 8 100 United Drug Co
204 206 8 2000 United Fruit Co
12% 13 .. 700 United Ry Investment...
26% 27 .. 1000 United Ry Invest pf....
68% 68% 8 9600 United Retail Stores
13 I 15 .. 200[U SCI line & Fdy
41% 42 61 300 U 8 C I I*lpo & Fdy pf..
37 38 6 7400 U S Food Prod Corp....
74% 75 8 7600 U S Ind Alcohol
43 46 .. 500 U S Realty & Imp
09% 70 8 6800 II S Rubber
103% 104% 8 200 U S Rubber 1st pf
62 54% 6 500 U S Smelting R & M...
84% 84% 5 65400 U 8 Steel
106 106% 7 500 U S Steel pf
57% 58 6 3200 Utah Cooper
11 11% .. 400 Utah Sec Corp
47% 47% 6 14900 Vanadium Corp
48% 49 4 2500 Va-Carolina Chcm
104 105 6 100 Va Iron, Coal A Coke....
11% 11% 2 3600 Vlyaudou V
10 10% ?. 3000 Wabash
28% 29 .. 2400 Wabash pf A
63 59 .. 200 Wells Faruro Express....
12% 12% .. 4600 Western Maryland
22% 23 .. 2000 Western Maryland 2d pf.
36% 38 .. 2200 Western Pacific
77% 82% 6 100 Western Pacific pf
88% 88% 7 200 Western Union Tol
100% 102 7 400 WestlnKhouse Air Brake.
46 46% 4 2800jWestlnKhouse E A M....
12 12% .. 800 Wheeling & Lake Erie..
22 23 .. 100|Wheel & Lake Erie pf..
42% 43 4 800 White Motor
21% 22 .. 6100 White Oil
24% 25 4 200 WiekWlrc Spen Steel....
8% 9 1 12900 Willys Overland
66% 57 7 1100|Willys Overland pf
49% 49% 6 600j Wilson A Co
85 86 7 200i Wilson A Co pf
40 42 .. 900 Wisconsin Central
107 107% 8 300j Woohvorth (F W)
107 107% 8 100 Woolworth <F W) cash.
46 &u o m? vvonmngion Pump
75 85 7 100 Worthlngton Pump pf A.
55 I 60 I 61 200| Worthlngton Pump pf B.
Odd lota.
NOTE?Odd lot transactions aro not recorde
were made at prices outside of the regular full
TOOL COMPANY SHOWS GAIN. I charges '
renewals,
Chicago Pnenmatlc Itrpnrt* Net of Iirnountlr
In contra
f7.n(l a Hharo fop Nine Mentha. the surp
The consolidated statement of earn- a*n'n,d 1
Ings of the Chicago Pneumatic Tool a,a*t
Company and Its subsidiaries for nine CONS
months ended on .September 80 shows
net Income, after charges and tnxes, of Contln
$1,025,818, or $7.96 a share earned on ther subi
Its outstanding capital stock. In the , .
corresponding period of last year Its net '
Income amounted to $465,434, or $7.06 a tnorallia'
share earned on Its stock then outstand- lng yest>
'"? _ . A _, change t
The company's manufacturing profits 2 ?0 mo,
for the nine months were $4,099,551, pressure
against $8,158,581 In the corresponding mr.rtnes,
1919 period. Expenses, Federal taxes, which ri
Ac. aggregated $2,888,964, against siPted th
$1,937,717. Other Income was 876.626. fb, grea
against $15,573, making total lncorn<> mlddny r
$1,807,228, against $1,215,664. Interest down mo
920.
ONS.
1919. 1818.
% 268,219,328 122,018,472
pen- |Htgh- Low- | Clo?- Net
lug. | eat. cat. I lng. Change.
feo 60 60 60 ? 1
19 19 19 19 ? %
18 18 18 18 ? %
74% 74% 74 74 ? %
179 179% 176% 176% ? 6
19 19% 19 19 ? %
13% 13% 12% 13 ? %
37 37% 86% 37%
17% 18% 17% 17% ? %
4% 4% 4% 4% ? %
8 8 8 8
25% 26% 26% 25% ?'i
49 49% 48% 48% ? 1%
21 21% 20% 20% ? %
26 26 26 26 ? %
33 33 32% 32% ? 1%
57% 57% 56% 56% ? %
56% 66% 56% 56% ? %
90% 90% 90% 90% + %
102 102% 102 102% ? 3%
32 32 32 32
5% 5% 5% 5% + %
64% 54% 53% 53% ? 1%
90 90 90 90
72% 72% 72 72%
6% 6% 6% 6% ? %
11% 11% 11% 11% ? %
I 68 58 57% 57% ? 2%
I 92% 93% 92% 93% + %
80% 81% 80% 80% ? %
69 59 56% 67 ? 3%
66 66 66 66 ? 2
23 23 23 23 ? 2
31% 32 30% 30% ? %
22 22% 22 22% + %
99% 99% 99% 99% ? %
64 64 64 64
91% 92% 90% 90% ? %
as as so at ?
16% 16% 16% 16% ? %
3% 3% 3% 3% ? %
126 126 125% 125% + 2%
19% 20% 19% 19% ? %
89 89 89 89
50% 50% 60% 50% .? 3% .
24% 24% 24% 24%
23% 23% 22% 23 .. .
82 82% 79% 79% ? 4%
76 76 73% 73% ? 4%
23 23 23 23 ? %
86 86 86 86 + 1%
43% 43% 42% 42% ? %
14% 14% 14 14 ? 1%
40% 41 40% 41 ? %
24 24% 24 24 ? %
38% 39 38% 38% ? 1
81 81 80% 80% ? 2%
35% 35% 34% 35 ? 1
25 25% 24 24% ? 1%
84% 84% 80% 80% I? 6%
14 14 13% 13% ? %
62 62% 61% 61% ? 1%
33 33% 32% 32% ? %
77% 77% 77% 77%
15% 15% 15% 15% ? %
94% 94% 93 93 ? 1%
110% 110% 109% 109% ? 1%
64% 64% 60 60 ? 5
39 39 38 38% ? %
93% 93% 93 93 ? %
105 105 105 105
13% 13% 13% 13% ? %
98 99% 97% 98% ? %
56 57% 56 67%
67 68 57 58 +1
44 44 44 44 ? %
73% 73% 70 70 ? 4
ju .myz .iu 3U ? '/x '
72% 73% 71% 72 ? 2%
93 93 93 93
71% 72% 69% 69% ? 2%
28% 28% 28 28% ? 1%
33% 34 33 33 ? 1%
45% 46 45 45 ? %
8% 8% 7 7 ? 1% 1
20 20 20 20 ? % 1
4% 4% 4% 4% ? % '
9 9 8% 8% ? % :
16 16 16 16 ? 1
103% 105 103 105 + 1% .
103 103 103 103 .. ;
21% 21% 21% 21% + % ,
7% 7% 7% 7% ? % ,
46 46% 44% 44% ? 3% ,
30% 30% 28% 28% ? 2% ,
58 58 57 57 ? 1
111% 115% 111% 114% + 1%
28% 29% 28 28% ? 1 1
64 64 64 64 i
659 659 630 631 ?29 i
660 660 660 660 .. <
105% 105% 105 105 <
85 85 85 85 ? %
28% 28% 28% 28% ? % i
U1-/4 "A 74 W ? ?
55 55% 53% 54% ? 1% 1
11% 11% 11% 11% ? % 1
17% 17% 17% 17% ? %
97% 97% 97% 97% + 1%
35% 35% 34% 34% ? 1% 1
9% 9% 9% 9% .. '
48% 48% 48 48% ? %
27% 28% 27% 28 ? 1%
23% 25% 23% 24% + %
17% 18 17% 17% ? 1%
200% 200% 200% 200% ?14%
16 16 16 16
63% 63% 62% 62% ? 1%
13 13 12% 12% ? 1% i
18% 18% 18% 18% + % :
12% 12% 11% 11% ? % 1
417* 41% 41% 41% ? % ;
79% 79% 78 78 ? 2
27% 27% 27 27 ? % 1
125% 125% 125 125 ? % 1
65% 65% 65% 65% ? % 1
34% 34% 33% 34 ? %
105% 105% 105% 105% .. ,
204 206% 203 205% ? 1% i
12% 13 12<A 12% ? 1% ]
26% 27 26% 27 ? 1
69% 69% 67% 68% ? 1% <
13 13 13 13 ? % 1
42 42 42 42 ]
41 42 37 37 ? 6
77% 77% 74% 74% ? 374 :
45 45 44 44 ? 1% 1
69% 70% 69% 69% ? 1% '
104% 104% 104 104 ? %
52% 52% 52 52 ? %
85% 85% 84% 84% ? 1 1
106% 106% 106 106
58% 59 57% 57% ? 1% :
12 12 11 11 ? 1%
49% 50% 46% 47% ? 4% !
50% 50% 47% 47% ? 3% ,
105 105 105 105 _ 2
12% 12% 11% 1H4 ? 1% |
m mu m iftiz. \l
29% 29% 29 29 ? 1
53 53 53 63 ? 2
13% 13% 12% 12% ? %
23 23% 22% 22% ~ %
38 38 37% 38 +1%
77 77 77 77 -f 3
89% 89% 88% 88% +- %
101% 101% 100% 100% ? 1% I
46% 46% 46 46 ? %
13% 13% 12 12 ? 1%
24 24 24 24 ? 1%
42% 42% 42% 42% ? %
23% 23% 21% 21% ? 1%
25 i5 25 25 -~ %
9 9% 8% 9 ? % 1
58 68% 57 57% ? %
50 50 49% 49% ? %
87 87 85 85 ? 2
42 42 40% 40% ? 1%
107% 107% 107% 107%
108%il08% 108% 108%
52% 52% 46 46 ? 7
80 80 80 80 ? %
61% 61%| 60% 60% + %
d In separate line unless sales
iot range.
were $4 97,760 and depreciation,
Ac. $283,650. Dividends
IK to $680,568 were distributed
ist to $290,196 In 1919, maklnK
lus for the period $345,245,
1166,238. , |
0LIDATED EXCHANGE.
1
nance of tight money and fur- I
stnnMal shading of foreign ex- ! '
figures combined to bring do- !
Con In prices of Industrials durtrday's
Consolidated Stock Kxradlng.
Their net losses wen
re than 6 points, the bnmt of
being exerted against steels
oils and specialties. Ralls
rflected accumulnt'on and ree
general downward trend fader
part of the session wt'.b
allies of 1 to 4 per cent., moved
ulejately at the end.
GOSSIP OF WALL STREET. P
Stuck) Weak and Drop Lower, |
Weakness and liquidation character- I
lzed yesterday's stock market from bell H
to bell. Industrials bearing the brunt of
the decline and any number of them
recording new lows for the year. The
day's decline brought averages down
1.35, to 81.51, an absolutely new low
for the year. Railroad stock averages
declined .87, bringing them down to
83.21. The catching of a great 'number
of stop loss orders In Saturday's mar- j
ket and the margin calls which went
out- at the end of the week and were
unanswered opened the market with a
wave of selling. Emboldened by weakness
of stocks, professionals Jumped In
and sold them heavily all day, obtaining
important results. Such stocks as Vana- i
dlum Steel. Food Products, Industrial |
Alcohol, Mexican Petroleum. Pan-Amer- i
lean Petroleum, American Woolen and ! H
Baldwin went through the day without g
a rally of importance and closed at the | Sjj
absolute lows for the day. Call money ' n
became an active factor In the late fp
afternoon, when the rate advanced to 10 I
per cent and accelerated the decline. M
Industrial stocks melted away rapidly
under the momentum gained through u
morning selling There was said to be n
considerable selling to establish tax H
losses. Such buying as appeared during I
the day was of the scale sort or to cover H
short commitments and was not of suf- B
ficient size or importance to stop the 1
slide.
Bull Market Hopes Fade.
Traders who have hoped against hope
for a bull market this fall have hung up
their fiddle. The professional element
of Wall Street practically lias abandoned
the constructive side, and, as usually
is the case, can see nothing ahead
but a lower scale of prices for all industrials.
Rallies, of course, are anticipated
from time to time, when the market
becomes technically oversold, but the
last two trading days have done much
to.^undarnilne the confidence of those |
who 'were sticking to the long side of
stocks. The exception was In the rails.
Southern Pacific distinguished Itself j
yesterday by advancing 1% points In j
the face of the tide. Dividend paying
rails and such small rails as are likely
to figure In mergers with trunk Uues
are selling far below their merits, in the
opinion of a great many financial authorities.
The rush to sell stockB yesterday
brought a day In which 1,179,583
shares were turned over.
Eliminating Short Support.
The last few days has demonstrated
one thing, at least, and that is that the
withdrawal of a big short interest from
any stock, when It finally is covered,
leaves that stock in a weakened position.
This was emphasized yesterday
In cases in which stocks which had been
under Influence of adverse circumstances
had been held up by nothing in the
world but the short interest which had
accumulated on the way down. In sev- L
eral stocks yesterday the shorts found
uoimoriaoie proms ana aeciaca 10 cover
their commitments. With that prop removed
It did not take long for the stock
to exhibit a sagging tendency with the
balance of the market. Of course the
covering yesterday was a scattering
movement and there remains in the market
a very large short Interest in practically
every industrial.
, A Yenr Aro.
A glance at the price at which stocks
were selling a year ago and a comparison
with tho close of slocks yesterday
give a graphic Idea of tho twelve
months' decline in the market which has
onJ fn I r.,1.. of-l.. 1
liquidation and the pricking of the bubble
of inflation. It Is a Wall Street
axiom that the market discounts conditions
far in advance of their actual arrivals.
Such certainly has been the case
this year, because with a few rallies intermingled
the market has assumed a
downward course for a solid year, or
since November 3 last year, when the
Federal Reserve officials took the bull
by the horns and brought ft booming bull
market to a close by an increase In tha
rediscount rates. The problem that now
confronts Wall Street is to pick the psychological
moment when the market will
turn about and start a major upward
movement. Industrial prosperity will
return, of course, when industry and
labor get back to normal. The market
undoubtedly will discount prosperity
lust as it has discounted adversity. It
will be a shrewd trader who can pick
the bottom this year because of the absolute
lack of precedent.
l*rlcc? Then nnd Now.
Most of the standard industrials since
the height of last fall's boom have had
their rharket prices cut squarely in half.
In some coses that decline has extended
further and some stocks are selling at
a quarter of the prices commanded last
fall. In exceptional Instances, in some
of the motors and oils, the market prices
are a fifth to a twentieth of the prices
at which they sold last fall. The following
table of representative industrial
stocks shows their close a year ago and
their close last night:
One year Close
ago. yest'y.
Baldwin Locomotive 141 107t4
Studehnker l.'ISti M
Republic- Truck tl.'lSO
Plerce-Arrow BSV4 24%
Maxwell Motors r-0% 3
Mmndlnr r\ru 197.V Trr.s/
3enerat Motors SO 14%
Mid vale Steel 55 .'17%
Bethlehem B 107 04%
Larkav. anna Steel 00% 00%
Republic Steol 1.12% 72
[T. H. Steel 100% 84%
California Petroleum "1% 24
I'an-Amerlenn Petroleum 120% TO7',
American Hide & Leather 07% !>%
American llhle & Leather pf.. 1.12% 65
Central Leather 107 .'10%
Rndleoft Johnson 1.17 tl'2
fisher Body 101 ns%
Rtromberg Carburetor 101% 50
Amerlean Bosch Magneto 150% 0.1%
[T. S. Rubber 1.18% 60%
Keystone Tlra (15% 11%
[Joodrleh 80% 47
rexnn Oil 8.1 48%
Mexican Petroleum 248% 17(1%
Sinclair Oil (11% 28%
American Woolen 1.10 6(1%
Corn Products 04% 711%
American International 126% 61
International Mer. Marine 60% 15%
International Mer. Marine pf.. 111 62%
Watching Steel.
The year's previous low of UnitedStates
Steel common Was 8.1 %. Testerday
It touched a low of 84%. or within
three-eighths of a point of the year'n |
low mark. Extraordinary Interest attends
the mnrket in Steel because It has
become such an excellent barometer and
Indicator, and, as a rule, "as goes Steel
so goes the market" Predictions that
Steel would break Its previous low because
a gloomy tonnage statement Is anticipated
In Wall Street In general on
Wednesday were made generally yester
day. The last statement of unfilled
tonnage exhibited a decrease. Since It
Bppeared there has been a perceptible
slackening In business, and It is generally
expected that the unfilled tonnage
will exhibit a sharp slump. The decrease
in tonnage at the time of the last
announcement was 430,234 tons. The
decrease'In unfilled tonnage In the preceding
month was 300,000 tons. July
was the last month in which an increase
was shown.
Pools Abandon Operations.
Several pools which were In full bloom last
week'have folded their petals and
suspended operations until after the
passing of the storm of liquidation
Pools were operating Inst week In at
least one equipment, two or throe steels,
several oils and some specialties. In
every case they withdrew artificial sup- j
port yesterday and lot the affected stock
take care of Itself. j
tlrradth of the Market.
The liquidation In stocks yesterday
brought out Issues tlint have not been
traded In for weeks and resulted In
the year's broadest market. A total of
371 different stocks were traded In on
the big board. In a normal flay the
average of sto ks turned over is about
UM to J0U Usuea.
'?>
\
I 1
UNLISTED
SECURITIES
I0BEY& KIF^K |
Mtmkcrt Nmv York Stock Exchango Q
25 Broad Street !
New York j
Standard Oil
w?
ui new jciacjr
Preferred
'We believe this stock offers ons
of the particularly good Invest- |
ment opportunities of ttie times.
Accrual of a 1%% quarterly
dividend Is due In about a fortnight.
Price 105
Full detail.! on request.
Reinhart & Bennet
Members N. Y. Stock Exchange
52 Broadway, New York
Telephone 267 Broad
Careful attention given to
conservative trading accounts
An Income of
$50 a Month
may be secured by
Investing $6600
in a Security of one of
the largest industrial corporations
of the country.
Cities Service Company
6% Cumulative Preferred
Stock affords
Safety of Principal
and stability of Income
through large assets, i
high earning power and
efficient management.
Circular "P-31" on raaiLc.nl
Henry L. Doherty
& Company
Bond Department
60 Wall Street, New York
EXEMPT FROM ALL
FEDERAL INCOME TAXES
Nassau County Cpn. 5a
Due 1931-1940 inclusive
Mt. Vernon Reg. 4%t
Due Feb. 1, 1923
Newark, N. J., Cpn. 5 Via
Due 1950-1959
Trenton, N. J., Cpn. S^l
Due 1940-1950
DtscripUct circulart upon rtqttui.
B. J. Van Ingen & Co.
46 Cedar St. New York
Telephone John
Jil5,000
Lake Shore &Mich. So.
4* 1928
MH A Int.
To net about 6.30%
?25,000
Atch.Top. & Santa Fe
East. Okla. Div. 4s 1928
M'i A Int.
To net about 6.43%
?50,000
Minn. & St. Louis I
r,w\a fa inii II I
?-?"? 3?>
74 X ? l?t
To net about 8.10%
R. W. Pressprich
STSS- &Co- ?II
Municipal mill Railroad Honda
HARTSBORNB,
FALES & CO.
Mentbers N. V. .St?e* Exchant*
71 It li() ATI WAY
Tflrpbimr i?IU H"wtin<i Grtrn
Hki

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