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j 16 1 DIVERSIFIED i KINGDOM OF DENMARK Sf< ExttruoJ <<oW liuiuls. I?ue UHi to >iel<l ubout 7>90ro ANArnisim coppfr mining CO. dccurul Gold Hoods. Serfi'i B Dm 111-9 to vleld about TSg*^ PENNSYLVANIA-OHIO POWER & LIGHT COMPANY l fyiVc GoM Bond*?Duo 1943 to 3 tekl <li?ut BY rvtpm ' *?! for invntmtnt, Clri-iLars upon request. ? TheNationalCity Company Main OfUce: MMIonal City Bank BulMOv*. Cptown OtUrc. Fifth Ave. A 43rd St. ' ?????I ? We recommend the purchase of certain I 1 Foreign Government Bonds i payable in l~ni ed States dollars. I * Special literature upon -request* h * 4 C. F. Childs & Co. i Ut Broorfwuj -;M So. Tjt Salle St. New York Oilmfu The Oldest Bouse in America Deeding Exclusively In Government Bonds ' K Forei8? j Engimd Government *raner' r> 1 n i Japan External Bonds Nortray Fweden Redemption proSvitzerland visions offer possibilities in several instances for strik ing profits. Send for circular H-53, giving complete details concerning 10 inviting issues. George H. Burr & Co. Inrestmeiit Sceurtf-Vs Commercial Paper Equitable Building New York J Our Office* tn IB Cities Offer \ ou f A National Yet A Persona! Serrice We offer at a price to yield 5.60% Clarendon County, South Carolina 6% Bonds, due $20,000 each year. May 15th, 19361940. Principal and ?emi-annual in terest (May and Norember loth) payable at the Rational Park Hank in Xetr York City. | FINANCIAL STATE NT K NT Hat mated value S20.000.000 V?<?sed valuation (t9l?) . 5,*r,8.000 Paul debt, (including this i.viuel 472.000 ^taking fund S22.30O Net debt 440.rX)0 Population (t?10) 32. I SO Population, estimated (1020) "0.000 Circular on reyiie.il Lawrence Chamberlain & Co. Incorporated One Fifteen Broadway New York City I WE RECOMMEND Standard Oil w VI new 7% Cumulative Preferred Stock No bonds or mortgages ahes.fl of this stock. Assets $400 per share. Average earnings for past five years, over five times dividend requirement s. Price $105 Per Share To Yield 6.7& Dtscrtptln Circular ?1 upon rnptul. f / McCiure, Jones & Reed Mmbm N't* York Stoat Rtchkar* 115 Broadway New York Ttltphom Rtclor 7661 I _ FINANCIAL NEWS AND COMMENT Violent Declines in Stocks Car-, ry Market to Year's New Low Levels. MONEY KATE STILL HIGH Sentiment at Close More En trouraging. Although Break* Is Worst So Far. I The stuck market had another pinking apell yesterday which In point of violence was easily the worst of the year. It car- , ried the whole industrial list down to 1 new low records and, simultaneously j with the fresh outburst of liquidation in Industrials, came an entirely unexpected selling movement fn the bond market, - which thus far hajt been virtually imi muno from the downward movement. ! But while the selling of bonds made a j very bad impression on the average stock market follower, what really did the heart out of the Street was the rapidity of the decline in such stocks as Southern Pacific, Baldwin, Mexican Petroleum, Reading. &c., which had held up so stoutly In the first part of the session against the overwhelming selling | of other stocks. The way these stocks slumped, after having given hopes of a rally during the early trading, took the last bit of resistance out of the market and In the final few minutes of trading | stocks were literally dumped on the ! market With nut. tho jalicht^et rotrarrl fnr j their lnstrinsic worth. Tti spite ot the fact that the decline was probably the most severe of the j year from eve?' viewpoint, it was entirely orderly.^ There was a market for ; stocks every fraction of the way down, 5 even in the case of special Issues in : which bid and asked quotations usually' have been far apart, and there was. moreover, not the slightest sign of financial disturbance anywhere in Wall Street. As a matter of fact the very' manner in which stocks were dumped overboard was suggestive to conserve- j tive interests that the market was somewhere near a turn; that in any event the market had certainly pone through 1 the worst. There was everywhere in the financial community after the closing a J feeling for the better, and despite the rapidity of the decline, commission houses reported the very best kind of scale buying as well as cash buying from so-called bargain hunters. It was : literally bargain hunters' day in Wall ! Street and the surprising thing about 1 the whole matter was that the decline ! occurred without the slightest change in the news. 1 Although the lowest prices were made 1 { during the last hour the first half of the day made a fairly respectable showing. ' There were semblances of rallies j | throughout the list, but those rallies ) i failed to hold, they only encouraged \ j fresh selling later on, and in the lost j I nour inn wnoic mariier gave way under ! the strain. There was a crash of more than 4 points In Baldwin, and an even 1 sharper break In the Mexican stocks, i but what was even more disheartening ; was the way In which Southern Pacific ! and Reading sold off. Those issues had j been the backbone of strength of the list and the Street had been led to believe that when the rally did start It would be those two issues which would lead. When, however, it became apparent that the market would refuse to rally even under the leadership of stocks liko Reading and Southern Pacific the market was literally overwlielmed. But In spite of all this weakness there were several notable exceptions to the trend. The low priced rails did better than the average run of stocks, and motor stocks stood up under the strain In a truly wonderful man1 ner. Not a decline was recorded at the j close in leading motors. There was no change whatever In the ! money situation. The renewal rate was ' still held at 9 per cent, and, as has been the case for the last week, the rate was advanced to 10 per cent In 1 ' the last hour. Those interests that ex- I ; pect lower money during the next two [ or three days, however, are likely to be j disappointed In view of the announcement made at the Reserve Bank after the closing that approximately $9,000,- ' 000 would be withdrawn from the banks to-day. MONEY AND EXCHANGE. CALL MONET. 1 High lOILaet ? Low ?'Renewals 9 ' Tear's high SOITear's low 0 : CLBARTNQ TTOUBB STATEMENT. Clearlne Hmn? ...k.?- ?.? --- ? bal?nc^r$7n,^.4MT^'XTni?^%'bii aass- issues. ^ ?-8 SIDVER MARKETS, bur silver In New YnrV: Domestic, oniic. per ounce, unchanged: fomlim, 808!r 1 "" H-TMe^n' _ CANADIAN EXCHANGE. New York funds In Montreal, #113.12 pre?s ss.fic .sr" '?" foreign exchange. GREAT BRITAIN. 94.M& Demand, sterling...T'#3.37$f Cables, sterling: 3.38% 3 34 Rankers, 80 dars.... 3 34 0 041. Bankers, to) duys..., 3.33 3.27% ? _ THE CONTINENT. 16.30 France, cents a frano? Demand r.,88 5.75 Cables 5 s7 7 76 16.30 Belgium, cents a franc? Demand n.21 ?.M < ablofl n 22 ft 10 Iff..30 Swltserlnd, o?nta * franr*? ; J?"")"nd 10-27 111.03 v aniAH 1.% 30 1*. fvs 10.30 Italy, cents a lira 3.42 3 88 I f.fiblcj* . ft,43 > 30 23.80 German, cents a mark? Demand 1.16 t.in Cables 1.16 1.11 I 28.80 Sweden, cents a krone? 5?I"?nd 18.70 18.88 e. ee JIoB ,s 18.00 ; 28.80 Norway, cents a kroneDemand 13.10 I8.?r, ..Mr! I ...18.15 13.10 : 28.80 Dernark, cents a krone? Demand 1R.16 nm \ 18 30 Greece, cents a drachmaDemand 0 10 p 15 man nnb!e" . ? !"' 030 13.80 Ppaln, cents a peseta? Demand 12.51 12.M Cables 12 55 12.5340.20 Holland, cents a florinDemand 26.53 26.23 ! Cables 20.85 36.88 81 48 Russia, cents a ruble? 10O rubles 80 .80 500 ruble* 85 .65 20.8 Austria, cents a crown? Demand .28% .26% , cables 288, .28% j 20.28 Cseclio-Slovakla, cents a crown? cable* roi'i i.np 10.SO Rumania, rant* a lei? Demand 1.4D4 1.80 Cable* 1.48<i 1.61 PAR BAST. I 108.82 Shanghai, cent* a tael? Demand 03 no tum Cable* 03.no 00.no 78.00 Hongkong, cent* a dollarDemand 00 00 TO. 00 Cable* 7n 00 71.no i 48 88 Bombay, rente a rupee Demand 30.23 30.28 Cable* 30.80 30.80 , 40.34 Yokohama, rente a yenDemand 30.78 80.73 Cable* 81.00 31 00 SOtHlf AMERICA. ' 89.44 Rio dr Janeiro, <>nt* a mllrele Demand 10.23 10.73 ! Cable* lfl.37'4 10.87H 42.48 Vueno* Air**, cent* a peeo Demand 33.28 34.03 j Cable* ... M.87'4 34.15 1 103.42 mi(nar, cent* a AollanDen.and .?.?*. ?,?? T7 00 70 30 I CaW* *..* JMAi t ) / THE N ~ NEW ' Pay It aaiea cionln*?,1 Dtv. | ~j Rid. | Aah. |ln$.| Sales. | 31% 34 i .. j 8001 Adams Expt -4 26 .. i 600 Advance Ku 55 57 ti 400 Advance Ku 35% 37 01 13001AJax Rubbei i% i%; ..! 1800;Alaska June 55 5684' .. 15001 Allied Cliem 01 94 7 100 Allied < 'h & 28Vj 28% I 4j 20001 Allls Chalm* 75% 75%' 8 3400 Am Afcrie C iv i os I o ivu Am Ajsrie ' ' 45 ! 48 4 100 Am Bank N* 64 j 64% 8' 1800 Am Beet Su 61 ! CC 10 1100 Am Bosch i 26 2!i%. . .j 6400'Am Can ... S5V41 84 300 Am Can pf. 127% jl2ir l-'l 5000 Am Car & F 217V 23 I ..| 1600!Am Cotton < 8%, 8%jSOoi 2500 Am Pruggis 131 ' 140 | 6 200 Am Express 9% 9%; . 1600 Am Hide & ] 55%! " 1800 Am Hide & 10 | 42 ! 4| . 600;Am Ice'.... 58 50 6 ' 300'Am Ice pf.. 62 ! 62% 0] 144001 Am Internet 61 ,65 ! 3; 700] Am Linseed 89 91 7' 100'Am Linseed 89%j 89% | 6 9250] Am Locomot 100 1101 j 7] 200 Am Locomot 11% 12 .. HOOiAm Safety : 13"i 14 ..I 8100]Am Ship & < 54 54% 4! 8200}Am Smelt & 90% 91 ( 71 3001 Am Smelt & 33% 33%! 3' 3000iAm Steel Fo 83 S3Va! 7j 400 Am Steel Fo 98 98%! 7 lllOOIAm Sugar B 77% 78%! 10 6200 Am Sumatra 100 100%; 8] 1600]Am Tel & Tf 116 118 ! 12 2700]Am Tobacco 114 115 ! 12 2200(Am Tobacco 61% | 61% 7 14400)Am Woolen s3% 43%] ..| 800jAm Writing 9 j 9% I .. I 4001 Am Zinc. L < .. 40 I 200]Am Zinc, L < 50% 50%: 4| 7700]Anaconda Co 25% 26% 4 500:Associated D 57%' 61 . ti 2001 Asso Dry Goi 108 ilift 1 $[ 100'Associated Oi 86%; 87 ! (i1 7400;Atch, Top & 77% .78 j 5: 7901Atch. Top & S 8% 8%j ..[ 500]Atlanta, Bint 95 96 i 7] 200 Atlantic Coas 21 I 23 1 3, 400[Atlas Tack ( 123% 124 10! 7000 At, Gulf & W 12 15 ] .. 200 Austin Nicho 76 | SO j 7] 100 j Austin Nicho 4%j 5 i . . 200lAntosyiles . . 102 ; 102 7 62100 Baldwin Loco 43% 44V4! 1360U Baltimore & 52 53 I 41 3001 Baltimore .& < 39 2% 200|Barnsdall Coi 128 130 | 8! 300 Barrett Co . 128 '130 ! ..J 100'Barrett Co CI 104% [106 | 7 100; Barrett Co p 7rJ 1%; ..i lOo'Batopilas Mir 3Vgi 3% | .. I 700jBethlehem M 61% 63 j 51 700'Bethlehem St 103 !l03%j 8' 400'Bethlehem St 63% 63%I f?! 16800'Bethlehem SI 5^! 5%I .. | 600'Booth Fisher 13 j 13% ..j 400!Brooklyn Ra] 8 ; 8% 1000 Brooklyn 11 'I 5 5% .. SOOIBruns Term i 72 .. 7t 1001Buffalo & Su 11% 12 ..! lOOjButteriek Co 5% 6 ..j 1300i Butte Copper 16 16% ..I 2100'Butte & Sup< 16 16%) .. SOOOiCaddo Cent. ( 63%' 66 i 6 2800 California Pa 20 ! 21% .. 900iCalifornia Pe 66%! 68 | 7! 846'California Pe 120% 122%! 10 14400iCanadian Pa< S4 85 7j 200 Case, J I. Thi 39 39% ..j 3500 Central Leatl 91 92% 71 200 Central Leatl 36% 37 4 HOOiOerro de Pas 76 76% 10 5300 Chandler Ma 67 67%) 4! 5 700 i Chesapeake i 8 11 ! .., 200 Chi & E 111 p 9% 9%] .. 4600|Chicag:o Gt I 22% 23 ,.| 4400 Chicaao Gt 1 41 41% .. 6000 Chic, Mil & S 61% 61%! .. 4200 Chic, Mil & S 80 80%) 5 2900|chlcnKO & N 72% 74 i S! 200|Chicago Pnei 35% 35% . ,j 4900!Chlcapo, R I 68% 69 6! 500 Chic, R I & I 79 79%I 7 600 Chic, R I & I 68 70 I 5) 100|Chic. St P, > 13%1 14 | 2900tChile Copper 24%! 21% l%t 2600|Chino Coppei 67 ! 91 ! 7; lOOlduett, Peabo 25%! 25%i ..) 6900'Coca-Cola . 30% 30%| 3 500|Col Fuel & 1 30 30% I .. 400 Colorado & I 50 54 ! 4 1001 Colorado & S 15% 16 1 7500 (Columbia Ori 74 77 j 7 200 Columbia Gri 40*4 41 41 600 Comp Tab P 61 62% 7! 300 Consolidated 85% 86% 7' 2500'Consolidated 7 7% 2! 1700 Con Intersta 20%| 20% 3; 1200;Consolidated j 70 7! 300;Continental < 9% | 9% 1 11001 Continental 1 76%! 76%; 4, 16200 Corn Produc 100 1101 7| lOOjCorn Produc 35% 36 '2%; 2200lCosden & Co 109% 100% K 18120,Crucible Mte< 89 I 90 i 7 200(Crucible Stee 35%! 35%' 71 4700'Cuban Am t 29%, 29% 1 ..I 14600 Cuba Cane J 70 72 I 71 1400!Cuba Cane S 93 | 96 7! 1001 Deere & Co 102%(103% 1 9* 600(Delaware & 230 1240 I 10 200 Del, Lack & 1 %! 1 % j .. 300 Denver & Rl< 2%( 2% .. 2600 Denver A Ri< 89 I 93 I 8 100 Detroit Unit* 12 12%! 1 .500 Dome Mines 6% 6 ..I 100 Duluth, 8 8 A 19% 20 j ..j 400 Elk Horn Co f.l 61% 6 400 Endlcott Johi 15% 16 .. 8900 Erie 16 16% .. 3800 Erie 1st pf.. 18 19' .. 500 Erie 2d pf.. 49 53 100 Kairbanks Q< 63% 66 8 600 Famous Play 9%' 11% .. 100Federal Mln 28% 29 7 600, Federal Mln , 95 98 10.' 100 Fisher Body 17% 18 3! 5100(Fisk Rubber 16 16%i ..I 800lFreeport Tex iU a.vl ! finn tkt 60 62 2 200 Gen Am Tan 58% 59 ?| 300;General CJgai 136% 138%! 8 leOOlGeneral Elec 14% 14%| 1 82800 General Mote 67 89 1 6l 400!Genernl Mote 64% 64%' 6' 700'Oeneral Mote 72 74% 71 r.oo'G Mot Corp ?j 46 46% 6 3700jOoodrlch (B HI 13 .. 2001 Gray & Davl 85% 86 7 5800'Great N'orthf 31% 32 4 2100iGreat Nortlie 24% 25% 2 300 Greene Cana 16% 16% 2| 200 Guantanamo 13 13%l ..I 100'Gulf. Mobile 39 41 .. 1500,Gulf Suites S 17 19 SOOlHendee Mam 59 | 62 t 4' 3900 Haskell & B* 12% 127*' 1 BOOjHupp Motor 25 25%j 3; lOOjilydraullo Ht 95% 96 6200;TIoustnn Oil 90?4 91%! 7 4001 Illinois Centi 7% 7% 60c IBOOllndtahoma R 40 40%! 4 3200)Insplratlon ( 4** 47* .. 5200'Interboro Go 1474 15 BOO'lnterboro C01 16 16%! .. lOOGnt Agrl Cor 65 71 5 400,Int Aftri Cor 99 101 I 7| 2200;Int Harveate 16 1 144: .. 4800 Tnt. Mer Mar 614! f.2 I ?! 6IO01 Int Mcr Mar .. j .. J .-I 1200:Inter Motor 16-"^n 164, . .1 3400 International 564! 664i 6100jTntQrnPtlonal 284: 21>4| .. 5200 Invinrlbln Oi 38 ' 3ft .. 1?00 Iron Product 64 64 .. 42001 Island Ml & 44 44 .. 300i Jewel Tea- . 17 | 174 2! 100,Jones Bros ' 224! 2241 [ 6000[Kansas City 44 'I 48 | 41 400 j Kansas City 76 90 ' 61 400lKayser, Julii 464 47%! 4 4100 Kelly Hprlna 67 91 [ S| ion Kelly Hp Tin ,, ] 100 Kelsoy Whe< 22 224! 21 2600:Kennerott C< 124 124 1.20 1900 Keystone Tlr 59 694 6 2300| Lackawanna 47 61 I .. 200 Laclede Gaa 194j 20 .. 800lLak? Erie A 194! 20 2 600 Lee Rubber 614 61* 34j 3000 Lehigh Valb 19%1 20 S! 6900:Lnew? Inc 11% 12 .. 8200 Loft Ine ... 334, 36 .. 200 Loose Wiles 133 133 ! 12J 400 Lorillard (PI 98 11 10 1 7 100[ Lorillard (P) 103 101 7 300 Louisville A 67 I 574. 4 300iMaikay Cos a i i?<y^n#op*0( EW YORK HERALD, WE YORK STOCK EX TUESDAY, NO1 1 f>20. 1919. 1918. . . 1.366,413 1,891,717 1,972,914 r6p.il Hlgli- Low- | Clou- ' Net ! tng. | eat. | eat. | lng. ! Chang*. eBa "7! 33 ~ 3- 32% 4 mely 23 I 25% 24 24 2 mely pf 37 57 55 4 55Vi ? 17-i '37 : 37 36 36 1?2 an <J 31 ; Hi' 14' 1%; 14' 4 & Dye w 1.. 56 4, 56%' 53 | 55 ? 14 Dye pf w i.. 9241 924 924 924 + 1 ?rs Alfjf 30 304 28 V 284 14 hem 74%, 75 V 72% 75% 4- 2 lem pf 83 j 83 | 83 83 | + 4 OlO.... 40 40 in '?? I gar I 67 I 67 65 65 1 ? 2 iagneto ! 65 <66% 64% 64% -?4 28 #28% 27 , 27%' ? 1% 1 85% 85%1 85 j 85 ? % Sundry 130Vi 131% 127% 127%, ? 2% [MI 23 23%: 32%' 22%! ? % t Syndicate. 8% 8%i 8%i 8% ? % 132%; 132% 432 132 I ? % Leather 8% !?%: 9% 9%' ? % Leather pf.. 53% 57 ! 55% 55% ? % ! 41 1 41 '40 40 J ? 1% j 58.%' 58%| 58 | 58 tonal Corp. . - 64 ' 65% 61%: 62 ? 2 Co I 64% 66% 64%| 66% + 1% Co pf 89 89> 89 I 89 ? 2 .ive ! 92 92%: 89%! 39% ~3 ive pf 1101 101 ,101 101 ? 1% Razor 11% 12 11%; 11% ? % I'ommerce...[ 13% 14%! 18% 14 Ref j 57% 57%' 54 ! 54 ? 3% Kef pf 91 91 < 90%! 90% ? % undrics 35 ' So 88% 83%) ? 1% undries pf.. 85%I 85% I 83%' 84 1?1 Lef 1100%ilOl%' 97%, 98%, ? 3% . Tobacco...! 80 ! 81%! 76%! 77% ? 3% >1 t....1 99% 1100%! 99% 100% 1 + % 119%!l20%'116 jllfl%l ? 3% B |115% 118 115 115* ' ? 3 I 60% 62 60% 61%: + 1% Paper pf...! 43% 44 ! 43 j 43%j ? % % Smelt I 9% 9%i 9 9 ? % & Smelt pf.. 40 40 ! 40 40 ppcr 49%' 50 48%' 49% ? % rv dooda...1 27%! 2744 26 ! 26 ? 144 ids'1st pf... 58 60 1 58 : 60 +2 I Co 110 1110 IllO 110 ? 2 Santa Fe... 8674 j 88%' 86%! 86% ? % ?anta Fe pf. 77% 78' ! 77%! 78 l & Atl 8%; 8%' 8%' 8% ? % ?t Line 95 95 95 95 ? 1% >orp 22% 1 22% 21%i 21% ? 1% 1 S S.' 123%jl26% 123% ,123% ? % Is 12%! 12% 12%! 12% -T- 1 1? I>f ! 72% 72% 72% 72% + 1% ! 5 5 5 I 5 imctive Wks'107 108% 102%'l02% ? 4%' Ohio I 44% 46% 43% 43% ? 1% 3hio pf 52% 52% 52% 1*52% ? % p A 39 I 39 39 < 39 '128 128 :i27 127 ? 4 h Con ctfs. .129 ,129 1129 129 ?2 f 105 105 <105 105 ? % ilut? I 1 ! 1 I I 1 otors 3%; 3% I 3% 3% ? % eel 63 '63 I 61% 61% ? 1% eel 8 p c pf.1l03%11037i,il03% 103% ? % teel B 64% 64% 63% 63% ? % ios >% <>% 5% 5%, ? % pid Transit.! 13%, 13%; 13 13 ' ? 1 ' ctfs of dep.I 8%' 8%' 8% 8%;? % fe R R I 5%I 5%' 5%| 5%|? % sque ctfs...! 75% 75% 75%; 75%, I 12% 12% 12%I 12%! _ % & Zinc....! 6%i 6% 6 6?% Pnn i 1ii 1 ?> '1?; I 1 J & n.16% 17 i 15%; 16 1 ? u ck Co. ...[ 67 67%, 65% 66 j ~~ 1 trol 23Vi 23% 21% 21.%! ? 2% trol pf I 67% 67%I 67% 1 67%! ? % :iflc '122% 124% '120%' 120% I ? 1% os M pf 1 87, 85 ! 85 | 85 j ? % ?er 29% 40 ' 38%: 38%I. ? % her pf 91 91 % 91 91%' + % co Cop 37% 38 36%! 36%j ? 1% tors 75% 77% 75% 76%' -f % fe Ohio 67%' 68%! 66 66%I ? % f Eq Tr -ctfs 9%| 10 5 9% 10 -f 1% Western. 10% 10%! 9% 9% ? % Western pf.. 26 ( 26 I 22% 22% ? 3% }t Paul 42 42 I 39% 39% ? 1% It Paul pf.. 61% 62 ! 59% 59% ?2% Forth-western 80% 81%] 79% 79%i ? % unatic Tool. 74 74 74 74 j ? % & Pacific.. 35% 36%' 35% 35% ? % aac 6 p c pf. 69 %' 69% | 69 69 ' ? 1 V 7 p c pf. S0V 80%' 79 79 j ? 1%, I & Omaha. 69%| 69%i 69%' 69% I ? % 14 | 14% i 13% 13%: ? % r ' 84% 247s 24% .21% ? % dy & Co pf. 91 91 I 91 91 33%; 2574 25% '25% ? % ron 30%| 31 ' 30% 81 + % Southern 30%! 30%, 30% 30% + % louth 1st pf. 52 ! 52 52 52 ?2 iphophone . 1574 16% 15% 15% ? % aph pf 75 75 75 75 ? 2 iecord 4374 48% 41% 4174 ? 8% Cigar 63 63 62 62 ? 1% Gas 87% 87% 85% 85% ? 1% te Cnl 5lin7% 7%! 7 7 ? % Textile .... 21 ! 21%! 20% 20% + % Can I 71%, 71% 71%! 71%' Candy I ?V 9% 9%! 9%! ts Kef 76% 77%' 76 ! 76% ts Ref pf... 100%1100%! 100% 100%I 4- % ' 1 3674 36%' 35%! 35%! ? % ?1 Co 113% 114% '109% ' 109% ? 3% 1 Co pf 1 90 ? 90 ! 90 ! 90 4ugar . 37 ~37%l 35% 3574] ? 1% Jugar 31% 31% I 29% 29%' ? 2% ugar pf 72 72 70% 70% ? 1% Pf 93 1 93 93 93 + 74 Hudson 104%! 104% 102% 102% ? 1% Western.. .1240 '240 240 240 + 1 ) uranae.... i%| 1%' 1%; i%i ? % } Grand? pf.I 2% 3 2% 2%i id Ky....... 90 90 90 90 I ? 3 13%i 12% 12% 12% ? % t Atl G%; 5% 5% 5%! ? 1% al Corp 19%! 19% 19% 19% ? % I son 00%; 61% 60% 61% ? % 1?% 17% 16 16 ? 1 26% 27% 25% -25% ? 1% l*%i 18% 18 18 -1- 1% J 51 %i r.1% 51% 61% ? 3% ers-Gaaky .. 65 . 66 65 66 +1 A Smolt 9% 9% 9% 9% ? % & Smelt pf.. 31 l 31 29. 29 ? 1% Corp 95%| 95% 95% 95% ? 3% 19%' 19% 17% 17% ? 1% ns 17% 18 I 16 18 ? 2 Wi*mor?... 4% 4%[ 4 4% k Corp 59%' 59%I 59% 69% ? % r Co 59%I 59%| 58% 58% ? 1% trie Co '136% 187% 136% 136% -f % >rs 14%1 15%) 14% 14% )rs pf 69 69 i 67% 67% ? 1% >r Corp deb.' 65%' 63% 64% 64% ? % leb pf 7 p c., 75 75 74% 74% ? % K) 47 47 46 46 ? 1 a / 13 13 13 13 ? % rn pf4 87% 88% 85% 83% ? 1% TO Ore etfa. 82% 32% 32 32 ? 1 nea Cop 25% 25% 24% 24% ? % Suipir 16% 14% 16% 16% A North.... 13 13 13 13 ? 1 Steel 41%! 42 ! 39% 89% ? 2% jfacturin* .. 19 ' 19 i 18 18 ? 2 irker Car... 6l'% 62% i 59 ! 59 ? 2% 12% 12% 12% 12% ? % eel 25%; 2&%| 25% I 23% -4- % Co 96 : 97%, 91 i 91 ? 4% al 92 ! 92 I 91% 92 ? % ef .7% 7%' 7% 7% ? % ,'on Copper. 40%' 40% I 40 '40 ?1% n Corp 6% 5% 4%t 4% ? % ?DNESDAY, NOVEMBER CHANGE QUOT reMBER 9, 1920. Year to date i ^-Closing.?,|DK.| . | Bid. 1 Ask. |ln|.l Sales. | "55 j 57 I 7| 100 Mnljinon & Co il 80 83 , 10 oOO.Manati Sugar . 59 01 7 20o Manhattan Kiev 1S?4 18^:1% 200'Manhuttan Shlrl 17V9 18 2 1001Martin-Parry Cc -7s 3Hj .. 200iMux\v?ll Motor "3 "1 8' 200;Maya I>ept Stor 97 .. | 7j 100 Maya Dept Htori 166 '166^: 12 41400 Mexican Petrolei 18;(4 i!) i jjj 400 Miami Copper . 12*? 12\ l.?o 9700 Middle States Oi 35 37>t4 4 10700;Mldvale Steel & 16V?: 17 ..I 1500 Minneapolis di Si 90 100 7 100 Minn, St P & S t 4^4 4 Vt j SOOlMlssouri, Kan & 7 V4 7% .. 500 Missouri, Kan & 24-74i 25 j ..6100 Missouri Pacific 47 47Vij . .j 4800.Missouri Pacific <> i % t>4 r o -oo Montana 1'ower 19% -'0 ' ..' 2600'Mont Ward & C 25%' 25*4 4' 300:MuMns Body ... 30 j 30% 3% 500 Nationul Acme C 55 i 5 0 .. 300'National Aniline 55 ! 56 .. 700 National AM & < 89%' 90% 7 200.National Anl & l 8ft 14' 90 ' ..1 100 National Ani & C 8ft 100 ; 7 10W National Biscuit 30 33 .. 1 800 National Cloak i 5 5%I ,.| 500 National Conduit 5314 5414 6: 550 National Knam i 80 92 I 71 100'Natlonal Enarn . 71 7214! 6! 600|National Lead t ? 614 ] 1500 Nat R R of Mex 11 1 Ills' ll 1200 Nevada Con Coi 55 j 56 } 6' 1500! New Orleans. Te: 89 I 90 1 10, 1300 New York Air i 7914' 80 i 5, 9700,New York < eiitr 4414! 50 ! .. lOOOiNew York. 1 hie 45 1 46 1214 100'New York j )ock 2914! 30 1 .. 9800 New York, N H 2114 22 1 1800 New York,-Ont < 9714; 8814 7 800 Norfolk A West 55 ; 58 J 5, 100 North American 88% i 9114; 7; 24100 Northern Pacific 37141 3714! 6; 800 Nova Scotia 8 & 14 I 15 j ]l 100 Xinitially & Co. 16141 18 214! 200 Ohio Body & Blc 3%\ 3?4 40c 3400 Oklahoma lYod 4141 5 J .. 100 Ontario Silver A) 25!a 2614; 2 200iOrpheum Circuit 125 ; 131 : S 500 Otis Elevator .. 19 I 19% .. 40 Otis Steel 50 ! 52 I 3 500 Owens Bottle Cc 22 I 22*4] ' ! 600 Pacific Deveiopn 38 I 40 ( .. | 200 Pacific Tel & Tel 75%; 76 61 30500 Pan Am Petrol J 70 ; 71 6i 2100 Pan Am 1'etrol A 4214| 42%! 3! 5200 Pennsylvania R 13% 18%i ..i 1200 Penn Seaboard ! 37% 37%! ..! 2800 People's Gas, CI: 22% 22%! 0100 Pare Marquette 02 C3 3 lOOPere Marquette 38 38% 3! 2000:Philadelphia Co 34 34%| .. 3700jPhillips Petrolau 24%i 24%i .4100'Pierce Arrow M 13%! 13%: .J 2000 Pierce Oil Corp. 83% 84%! 8 100 Pierce Oil Corp 04"i 05 0 3600! Pittsburg Coal o SO i S8 G .10<>! Pittsburg Coal o 3C%! 31 ! .. 4700 Pittsburg & We* 14% 10 1' 1300 Pond Creek Ooa 01%! 82 ' 8. 11001 Pressed Steei Ct 60 67 4. 1001Public Service C 108 109 8 1800;Pullman Co .... 56% 57 8! 7500iPunta Alegre Si 37% 38 4 21001 Pure Oil 88 90 81 8001 Railway Steel 8 13 | 13% l! 2900|Ray Consol Cop 04 I 04%: 41 6S600 Reading 56%! 57 I 21 2600iReadiiig 1st pf.. 56 ! 57 | 2| 1200' Reading 2d pf.. 30 30%' ..! 000iRemington Type 69% 71 I 4700:Reploglo Steel 29%] 30 I .1200iRepublic Motor ' 69%| 70 i 61 188001 Republic Iron & 02 03 I 71 100i Republic Iron & 69% 71 15.20 11900i Royal Dutch Co 14% 14%j l! 100!St Joseph Dead 26% 27% ..j 7600|St Ix>uis & San 30 43 .. 400 St Louis & San 1 30 31 ..[ 2700lSt Louis Southv 42% 44 .. 3300]St Louis Southw 7 8 1 1300 Santa Cecilia Su 19 19%' ..I 100'Savage Arms Ct 3%: 4 ! ..) 200iSaxon Motor 8 8%i ..| 600|Seaboard Air Li 16 ] 16%] ..! 200'Seaboard Air Lii 104741105%| 81 8001 Sears Roebuck i 21%! 21%1 .. 17100 Seneca Copper 5%! 6% ..i SOOlShattuck Ariz C 44%' 46 \~4V: 3300;Shell Trans & T 26% 26% ..{ 35100jSinclair Consol < 55 56 6 1200 Sloss-Sheffield 8 105 110 j 12| 2001 South P R Suga 110% 111 1 6 126100[Southern Pacific 27 27%i 13200.Southern Railwe 63% 64 ! 0' 400 Southern Rallwr 630 685 I 20' 54]Standard OH of ! n Corp pf... 14V 14% 14% 14% ? % p 16% 16% 16% 16% p pf 66 64% 66 68 -f 8 r Co now... 101% 103 09 100% ? 2 ino fJ5% 16% 15% 16% -f % lne pf 62 63 61 61% ? 6* Truck 35%: >8% 94 94 ?1*4 Nickel .... 16% 16%| 16%, 16% ? % Paper .... 56% 58 56 56% ? % 1 28% 29% 28% 28% ?1% a Corp 36 36 I 84%l 34% ? 1% Trana Corp. 5% 5% 5% 5% ? % I 4% 4% 4% I 4% ? % rca 17 17 17 17 Southern... 23% 23% 22%, 22% ? 1% Southern pf 48 44% 47%| 47% ? 1% 1a ft Co 70 " 78 70 I 78 TtrA ( dKU. A 711. 4 111/.: 4 4 11 OR/ pi 8 p O pf... 87 I 87 87 87 ? 2% j?l CO 48 48 48 48 +3 jpper 22%! 22% 22 22% ? % 0 ft Rubber 11% 12% 11%, 12% + % 3te?l Co.... 80 I 60% 58%' 58% ? 2 of St L..... 50 50 50 ! 50 ? 1 Western... 19% 19% 19% 19% ? % A Tiro 19%' 19%' 18% 19% V 63% 53 V 51%! 51% ? 1% 20%' 20% 19%j 20 ? % 12 J 12% 11% 11% ? % Bfscuit 35% 86% 34% 34% ? 2% 1 Tobacco... 182% 182% 182 132 ? 1% Tobaoco pf 100 ,100 100 100 ? % Nashville... 105'41105% 104% 104% ? 2% P 67 | 67% 67 1 ?7% - % m iCUli ii* ill J It 4~ 1 103 105%) 7[ 800 Standard Oil of 1 27 ! 27% 4 800|Stewart Warner 55%! 53%. 4: 3100 Strom berg Carbi 54%) f>4%j 7j 22400).Studebaker Corr 11% ll7* .. 2200)Stibmarine Boat 16% 17%! 2 700 .Superior Oil ... 40 46% 6 300 Superior Steel ( 33% 30 i' 200jTemtor Corn & 1 10% 11 .. | 1600 Tenn Cop & Che 46"4 i 47 31 27900'Texas Co 27% 27% 1 2300;Texas Par Coal < 23 | 23% ..I 3900 Texas A Pacific 16% i 17 .. 500jThird Avenue . 15%i 16 2% 200<Times Sq Auto 58%| 59 G) 5500 Tobacco Product 83 87% 7) 100|Tobacco Product! 10%) 11 .2900jTranaoontlnental 42 ] 43%' 3 500]Transue & Wms 39 40 2.50 100;Twin City R T. 26% 26% ..] 1600 Union Oil 124 124% 10 5700 Union Pacific .. 6o%' 66% 4 700 Union Pacific pi 32 33 1 2400 United Alloy 8te 105 110 s; lOOlTnlted Drug Co. 202 204 8 2000|United Fruit Co. 11% 12 .. 12001United Ry Invei 25% 26 ..! 1200 United Ry Inve* 63% 64% 3, 15800!United Retail St 12% 14 .. 100|U S C I llpe & 1 41 42 ! 5001U S C I Pipe & : 3 6 74 3 7 6 | 6400jU 8 Pood Prod ( 73% 74 8 86001U 8 Ind Alcohol 41% 42 .. 700)U 8 Realty & It 67% 67% 8 14100 U 8 Rubber.... 103% 104 8 200 U S Rubber 1st 52 54% 6 500SU 8 Smelting, R 83%) 83% 5 56700|U 8 Steel 106%; 106% 7 6001U 8 Steel pf.... 56% 56% 6 4800 Utah Copper ... 11 11% ..! 500'Utah Sec Corp.. 45% 45%, 6 12400!Vanadlum Corp 48% 49 1 4| 1400;Va-Carolina Che 99 103 6 600) Va Iron, Coal A 11% 12 2 2500 Vlvaudou V ... 9% 10 .. 2700] Wabash 27%' 28 .. 3200)Wabash pf A... 50 50% .. 865 Wells Fnrgo Ex 11% 12 .. 5000 Western Marylai 21% 22 .. 2200i Western Marylat 36% 37% .. 3200)Western Pacific 77 78 6 200lWcRtern Pacific .88% 88% 7) 500!Western Union ' 99 101 7| 300] Westinghouse Al 45%) 46 I 41 2400!Westinghous?f E 11%! 12%' .. 1100'Wlieellng A I.<ak 20 '22 .J 200!Wheel A lAke V 41%; 42 4! 2000 White Motor ... 21 I 21% .. 3000]White Oil 21% 28 4i 500: Wick wire Sp*n 874 9 1 10200'\%niys Overland 57 57% 7 600; Willys Overland 4*% 49 ! 5] 700 Wilson A Co.... 40 41 .. 100 Wisconsin Centr 107%: 108% ) 8) 600 Woolworth (F 1 46 i 47 6 1600!Worthlngton Pui 58 I 62 6! 200|Worthington Pui Odd lots. NOTE?Odd lot transactions are nt were made at price outside of the regu OFFER NATIONAL LEATHER. dunking Syndicate" to Place Inane of ?10.000.000 Notes. A syndicate composed of the Firs! Trusts end Savings Bank, the Illinois Trunt and Savings Bank. Pee Hlgglnson A Co., Harris Forbes A Co. nnd the Merchants T/oan and Trust Company of Chicago Is offering at 100 and Interest yielding * per cent. $10,000,000 of five year 5 per cent, gold notes of the National Heather Company. The Issue Is dateil November 15. 1020, and Is due on November IB", 1025, with Interest payable on May 15 and November 15, without deduction of normal Federal Income taxes not In excess of 2 per cent. Coupon notes are In denominations of $1,000, $500 and $100. reglster ble s? to principal. 10, 1920. A TI O N S. 1920. 1919. 1918. 82,949.379% 270,114,045 123,091,38> lOpen- |Hl*h- I Low- Clo?- I Net | lug, j eat. | est. lng. ) Chang* : R pf...! 57 i 57 57 57 TT" I 80ii; 8014; 80% 80% 1 ? 4}< guar... 60 01 60 61 | + 1 t I 19%' 19% 19 19 >rp ! 17Vi 17% 17% 1714; ? Yi 3 3 3 ! 3 j .. es I 74 74 74 74 e? Pi 97-V 97%J 97% 97%; + 3>J 11m 175 !l77% 166% 166% ?10 1 19 19 ! 19 19 I 1 1 13%' 13 I 12% 12%' ? M Ord ! 36% 36%; 35% 35%I ? 1% t L, new.i 17% 17%! 16%: 16% ? vi i M pf... 95 I 95 95 ' 95 Tex.... 4%! 4% I 4%' 4%: TV.W I C D 17 6' 1 nr.' .7' J VA l>l . ' O O J ' l-,S ! 25 25%' 24% I 25 I ? % pf I 48% 49% 47%! 47%' ? 4% ! 62% 62%' 62%! 62%| ? % 0 ! 20% 20% 20 | 20 ! ? % < 1 2?> % 2*i % i 25% 2o '/s ' ~~ % I'32% 82%! 32 I 32 :v Ac Ohem. 56Vg 56%< i>5%> 5o% ? 1% -h otfs.. 56% I 56% 53% 55%' ? 1% lliem pf.l 90 I 90% 90 I 90% ? % 'h pf ctfs 90 ! 90 90 90 ? 1 Co 1101% 102 [100 100 ? 2% 1 Suit...! 31 32 31 32 . & Cable! 5%| 5%j 5 5% + V, & Stamp. 53%I 53%! 53% 53% & St pf.. 90 ! 90 90 90 i 'o 71%! 72 71%! 72 ? % 2d pf... 6%; 6%! 6%; 6% ? % >por [ ii%! ii%; it 11 ? % x & Mex. 57%! 59 ' 36 1 36 , ? 1 % irake....! 92%) 92%' 89 I 89 j ? 4:,j ul [ 81%) 81%! 79%. 79%! ? 1% & St li.. 55 55 44 ! 44% ?12% pf ! 45%! 45%' 45% i 45% -f % & 11....; 31 j 31% 29% | 29% I ? 1% a West..! 22%I 22% 2iv 21%! ? % ;ern 98 ' 98% ! 97 %: 97% ? 1% Co ) 56 I 56 | 36 ! 56 1 ? 2% ' | 91 % | 92%! 88%! 89%! ? 1% C 37%| 38 , 37%! 37%' + % '14 I 14 [14 14 ! ? 1% >wer Co. 16% 16% 16% 16% ? % & Ref... 3%| 3%! 3% 3% ? % lining...' 4%- 4%' 4%' 4% ? % ' 26% 26%' 26 26 ? % !125 '131 1125 131 -f- 5% 13% 19%l 19% 19% ? % 50% 01 50% 50% + % n?nt ... 22%! 22% 22% 22% ? % 1 41 ; 41 41 41 ? 5% fe T 80 ; 81% 70% 75% ? 4% fc T B... 74 74% 70 j 70 ? 3% R 42% 43 42%: 42% ? % Steel 14 14% 13% | 13% ? % licago... 41 : 41% 37% 37% - 3% 24% ] 24% 22% I 22%i _ 1% prior pf. 62 , 62 62 ! 62 ? 1 39 ! 39% 38%! 38% ? % m 34% ' 34% I 34 ! 34 ? 1 ?Aor 24% 25% 24%! 24% + % 13% 14 13% i 13% ? % Pt I 84 ' 84 84 I 84 ?1 f Pa 61%' 61 %' 54 55 ? 6% f Pa pf.; 86%' 86%! 86% 86% + % 4 Va ...; 32% 33 30% I 30% - 2% ' ! 15% 15%; 15 i 15 ~ % 93% 94%! 91% 92 ? 1 orp N J. 62 62 62 62 ? 1 '109% 109% 108% 108% ? 1% i8rar 57 59 57 57 ? 3 38% 38% 38 38 ? % ipring... 92% 92% 89% 89% ?3% P?r | 13% 13% 13 13 ? % | 98% 100% 94% 93 ? 3% ; 57% 58 56% 56% ? % 57% 59 -67 57 ? 1 writer ..I 42 42 39% 39% ? 4% I 69% ?% 69% 70 Truck.... 30% 30% 29%! 29% ? % Steel... 71% 72% 68%i 69% ? 2% Steel pf. 93 93 93 1 93 N Y 69 70 69 ! 69% ? % 14% 14% 14%: 14% Fran 27% 28% 26%! 27 ? f<Yan pf.. 41% 41% 41%! 41% ? 2M ,-estern.. 83% 33% 29% 29% ? 3% rest pf... 46 46 42%: 424 ? 2M israr 7% 7% 7 7 TP 19% 19% 19%' 19% ? % 4% 4%I 4(4 ? % no 8%) 8V.I 8 18 ? XL le pf ! 16^4! 16%| 16%! 16% + *A Co il05->4 105 34 10414 105% + % 21% 2234 21%I 22% + % op 7% 7% 5 j 5 ? 2\i rading... 44% 45% 44 , 44 ? \4 ->il 28% 28% 26% 2634 ? 2% & 1 55% 65% 54%i 5434 ? 2% 106 106 106 1IO6 ? 5 115 115% 110%;110% ? 33< iy 27% 28% 27 27 ? 1% iy pf 64 64 68%! 63% ? % V J 635 635 680 1630 ? 1 J pf... 105 105 105 j 105 Speed.. 28 28 27%' 27% ? 1% iretor .. 58%! 59%l 55341 5534 ? 3% ! 54 I 5534! 53% 54%' 4- % i 11%: 1134I 11 ; 11 ; ? % I 17%' 17%: 17 ! 17 ! ? % lorp 46% 46%I 46%' 46%' ? P. fruit A..I 34 '34 1 34 j 84 ? % m 9%' 9%' 9% 9% | ? % 48 48%! 46% 46%! ? 1"t & Oil 28 f 28%j 27%' 27%' ? % 25 [25 23 23 ( ? 1% 17% 17% 17 ,17 I ? % Supply.. 153* 15% 15%' 15%' ? % .? 62 1 62%! 59 ! 59%| ? 3 s pf 86 ; 86 86 ,86 ? % Oil ! 11%! 11%; 10%! 10%: _ % Steel... 41%' 43 ! 41%; 42 1 + % 39 39 39 39 J 26%I 27 26%' 26% ? % 125 1126% 124 '124 ? 1 ! 65%I 66 65%! 66 + % *>1 33% 33% 32 32 ? 2 105 105 105 105 ? % 204 204% 201% 1203% ? 2 stment.. 12% I2%! 12 I 12% ? % it pf 27% 27% 26 ! 26 ? 1 ores 68% 69% 63%] 68% ? 5% FMy 13 13 13 I 13 ( My pf.. 42 42 41% 41% ? % Corp 36% 39 36% 37% + % 74% 75% 73% 73% ? % np 44 T 44 42 42 ? 2 69% 69% 67% 67% ? 2% Pf 104 1104 1104 '104 & M... 52% i 62% 50 I 50 1 ? 2 84%| 84% I 88%! 83% ? 1 106% 106% 1106% i 106% , + % 58 ,58 | 56%1 56%: ? 1% 11%' 12 ! 11%] 11%? .. 45 I 48%; 45 : 45% ? 2 m 48%! 48%! 48%| 48% -f % Coke...'103 103 99 99 ? 6 11% 11% H%| 11%' + % 10 10% 976 9%l ? % 28% 29 27%I 27% I ? 1% prase.... 53 53 50% 50%! ? 2% rid 12% 12% ll%i 12 I ? % id 2d pf. 22% 22% 22 22 ? % 38% 38%! 36% 37 ? 1 pf 78 78- 78 78 -4-1 Tel 88% 88%( 88% 88% + % Ir Brake! 100% 100% 100 100 ? % A M... 45% 46%; 45% 45% ? % o EM*.. 12% 12% 13 12 Irie pf.. 22% 22%; 22 22 ?2 42% 42% 41% 41% ? % 21% 22% 20% 21% ? % Steel.... 23 23 .21% 21% ? 8% 8% 8% 8% 9 pf 57 58 57 67% + % 49% 49% 48% 48% ? 1% al 40 40 40 40 ? % 107% 108 107%l108 |? % mp 46%! 48 46%-| 46 [Qp pf A 58%! 68% 68%j 68%' ? 2% >t recorded In separate line unless sales ilar full lot ranaro. STOCKS DROP IN MONTREAL. Market Decline. Montr* ax,, Nov. 9,?Now low* were recorded to-day In the continued drop of etock market leauc* here. Notable amonir fhe decllneo wm 40 for .Atlantic Sugar, which foil tinder peralatent aelllug. Tt opened at 49. Dominion Steel went to 18, down 1'4 from lnet. night's cloae. The market opened with a promlae of ateadlneas after the recent deoialon of bankln* Intereata to loan money for market purposes. During the afternoon National Hrewerlea and Rlordan Joined the weak issues. The former went down to fil >4 and the latter to 179. Both are new Iowa. GOSSIP OF WALL STREET. Averages at New Low tor Year. The decline.in the stock market yesterday. following: an active liquidation, which has run for six days without a ' break, has put the average of industrial stocks back to exactly the place at which it started in last fall's long upswing. The long bull market started i with the averages at 79 and u fraction. The average, of twenty. representative industrial stocks closed slast night at j 7!i.94, a declino of 1.57'for the day. Thus the entire gains fot- the upswing have been wiped out. The present liqul[ dating movement started on Wednesday. : On that day industrial stocks declined l 1.49. On Thursday tlx; decline in the, , averages was .54, and on Friday it was [ .97. On Saturday it was .82 and oti t Monday it was 1.35, culminating yesterday in a further drop of 1.57. in thirteen market sessions there have been but three days in which advances have ' been recorded. I.oolt for Organised Support. Humors about the banks and the com-: , mission houses ufter yesterday's close ! ; was to die effect that organized support . might be anticipated in the stock and i k the bond markets to-day. Such a move. , of course, would bring an abrupt, halt to the liquidation and the underpinning of short sales under the market would carry an advance along once the mo( nientum of the decline should be checked. Such support was entirely absent from the market yesterday, and stocks and bonds evidently were allowed to run their course. It was reported ' | about the Street that officials of the ' | Federal Reserve Hank had under con" slderation a plan for relaxing the strin1 gent rediscount rates. Sfw l/iin Hrrordi. , The forced liquidation in industrial i' , stocks yesterday brought new low fig- ; ! ures for the year for seventy-one stocks | on the list and a dozen more approached the former low marks by fractions. On I the preceding day sixty-four stocks hit 1 now low marks. The long list of stocks ' that broke their previous lows included j many of the steels, the representative I shares of the oil group, practically ali of the rubber stocks, the sugar and i leather stocks, shipping securities and i food and clothing stocks. Bargain Hnntera Flock to Street. 1 i Yesterday was bargain day In Wall j Street and the hunters for bargains were ! about brokerage offices in shoals'. Many.j , of them were abo.pt the Street on the j preceding day also, and it is known that ; | many of them have picked up stocks j here and there on the declines. The | clique of bargain hunters changes little j from year to year. It is composed of \ investors, most of theni men, but a few women here and there, who keep their ' capital in a liquid form and who watch ' the markets closely for just such a disrupted session as occurred yesterday.' American Suitnr Dividend. Directors of the American Sugar <?om- , ! pany will meet to-day for tho purpose of discussing dividend action, and it is re, ported In Wail Street that they may decide to eliminate the \ of 1 per cent, i extra dividend for the quarter which tho , corporation has been paying in addition , to 7 per cent, on its senior and junior I issues. The corporation has made a wide | , operating profit, but lias sustained a I j heavy loss on its unsold inventory of1 j i raws. W. H. Foster, vice-president or the corporation, recently declared that the net refining profits for the first eight months of the year were $11,000,000, but that the profit was subject to loss on unsold Inventory of raws which might run up to $10,000,000. The corporation has some 40,000 tons of unsold sugar. Government Withdrawal! To-day. | The Treasury Department will with- I draw to-day $9,200,000 of its deposits \ from member banks of the New York j district, according to notices which it sent to those banks yesterday" after-! noon. The total Government deposits i amount to approximately $15,000.000, as i reported in last Saturday's bank state- j ment. That low figure will be remedied j shortly after the 15th of this month, j however, by the sale of an issue of certificates of indebtedness. Notice of to- j day's withdrawals was a factor In the call money market yesterday. In the late afternoon the rate advanced to 10 per cent., at which figure it closed. Credit Peak Passed. ! The peak of credit requirements for ' moving crops and for 'practically all ' other purposes has been readied and passed, according to bankers who have | most to do with credit foi* out of town i i customers. They say that the banking situation is In a healthy state and that the money trend is distinctly downward. One of the surprises which the bankers have encountered in arranging accommodations for crop moving purposes this year has been the comparatively small demands from the South, particularly for cotton moving. J Standard Oil Preferred la Sold. I The svndlcate headed by J. P. Morgan I A Co. which offered the unsubscribed balance of the 7 per cent, preferred stock of the Standard OH Company of New Jersey has been dissolved, according to an announcement made yesterday.* All of that stock has been sold. General Motors. Interests closely Identified with the ( General Motors Corporation yesterday characterised rumors of additional financing by that company as absurd. They pointed out that the British-Canadian Interests that recently purchased a block of Oeneral Motors stock for approximately 136,000,000 have paid only ; 10 per cent, and that tho balance, ex- ' needing 130,000.000, Is to be paid on December 1. That amount, they declared, |? would add materially to the stability of (he corporation's cash position. The corporation, It is pointed out, is gradually j reducing inventories, a substantial ; amount having been written clown , through disposal of finished products. Houston Oil. It Is learned In brokerage circles that j dividends on Houston Oil are to be j started within a short time. The TIous- ! . ton Oil Company reported . yesterday that oil sales for the quarter ended on I September 30 were $718,281. After the deduction of charges the surplus amounted to $428,628, equivalent, after allowing for preferred dividends, to $1.18 a share earned on $25,000,000 of its common stock. , a TICKRR8 for c1rb MARKKT. When the Curb market moves Into Its new building It will have a ticker service j patterned after that of the New York Stock Hxchange. The Curb Ticker Company, Inc., has been formed and vlr-f tually all members of the association , that will move Into the new building havo signed for the' new tickers. nor*To.v on. 8inpt,P8 $428,8211. Houston Oil Company of Texas reported yesterday for the quarter ended m September 80 last arose oil sales of $718,281 and a surplus of $488,828 after expenses, depletion end depredation, i This surplus, after an allowance for the i ' preferred dividend, was equivalent to $1.03 a share on the 126.000,000 common stock. nniTieu forf.ion tradr. London, Nov. 0.?Following are tho ~ 1 Hoard of Trade figures for the month of . October: Imports, ?149.880.000 ; exporls of British products, ?112.290,000: re, exports, ?16.180,000 ; total exports, ? 128,420,000; excess of imports, 121,460,000. ^ PENNSYLVANIA OIL MARKKT. On. Cm, Nov. 9.?Credit balances, $6.10, Runs, 75,121: average, 54,413. Shipments. 43,811; average, 41.413. 1 IB* ' rl Cochrane ? Harper |s & Co.. t HI Broadway 60 Stata St. NEW YORK BOSTON Invi *n t K1 a ! I m mm v a??VA v/iw Oil Corporation Latest circular on request WEEKLY LETTER Girfsg eurranAaws and daraldpmant or INDEPENDENT x & n STANDARD OILS *" Furnished upon requeel ALUMINUM essential to the iron and steel industry ? and an im I port ant iactor in many others?is increasing in demand yearly. This Company is the oldest and largest manufacturer of t aluminum. I Aluminum Co. of America j s 5 Year 1% Gold Notes Price 97'/2 and Interest To Yield Over 7.60% Ask for Kolijrr H. J HoIIister, ?v; White & Go. 92 Cedar St., cor. Trinity PI. .NEW YORK Boston Philadelphia i i i are prepared to execute promptly orders in listed or unlisted securities for cash or on a conserva- j tive marginal basis. ' ! Correspondence invited Charles E. Brickley & Co. 1 Members Nat York Stick Exchang: 61 Broadway - - New York Telephone Bottling Green 8700 53 Ste'e Street Widener Bid?. BOSTON PHILADELPHIA Direct Pricaie H ires I. K. Rice, Jr. ?Xo. Will Sell . 300 Aeolian-Weber P. ft P. Com. 100 Air Redaction | 100 American Chlrlr Com. 100 American Cigar ('dm. 23 American lithograph Com. 100 American TradinK Com. 100 Appalachian Power Com. 30 Atlantic l.obo* Pfd. 100 Amer. Tire Fabric 2nd Pfd. SO Amer. Tins Fabric Com. 100 Atln* Portland Cement Com. 30 Rabcock ft Wilcox 30 City of New York Inn. 100 Clinchfleld Cdal Com. 100 Continental Inxtirance 100 K. W. Bll?? Com. 100 Kmer Itrantinghnm l*fd. S3 Equitable Tni*t Stork 100 ( cnrral Chemical Com. S3 tircat Amer. Ins. nil Home in*. "Right*" SOU. IV. John* Mnnvllle Com. 100 Int. Fur Exchange Pfd. 100 Kanawha ft Hock. Con I ft Coke Tfd. 100 l ehigh Valley Coal Sale* 100 l.lrna l ocomotive Com. 100 Cord ft Tnylor lot Pfd. 50 National Fuel (im KH> N. .1. Zinc "Rl?ht?" I 3) I'hrlpa Dodl' Corp. 00 Prnn Ciml ft f'okf 50 P. r. < oilier ft Son Com. ft Pfd. 50 Pncalinnta* Furl < nm. 110 Pvrrnr Manufacturing :M Hop. Tiro A R. 3d PM. 100 Slnpr Manufacturing 50 Titlran Ilrtlnnlng Pfd. 100 55 Indicator Co. lot and 3d Pfd. I.K. Rice, Jr. & Co ten 4000 to 4010 John. 30 Wall HI.. N. V Chas. F.Noble I Oil & Gas Co. I? featnrcd la the carrrat lama af "The Oil Industry" , Devoted to the In tore* t of Inventor* in oil eernritie*. Piibliktied monthly. Free on requeat R.C M EOARGEL & GO. 27 Pine Street-Newfork BANK & TRUST CO. STOCKS tartan. Lachenbruclt & Co 42 Bitond Stneat. "Veei'VbrKj UflCAOO DETHDIT PHILADELPHIA PITTSOUIW* P Irate Wtm Connorting orf,rr.. Guaranty Trust Co. Chase National Bank Sf. Y.,N. H. & Hart. Deb. 4s McCLURE, JONES & REED Mtmheri Ntw Vor^ Stork F.irkangr 5 ltro*dn?y rhene 3391 Rectnr t .