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The New York herald. (New York, N.Y.) 1920-1924, December 01, 1920, Image 16

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Sugar Stocks
Five years of unprecedented ,
prosperity have placed the se- j
curities of well managed producing
companies in an enviable
position. Stocks of such companies
are selling in many cases
far below book value.
We are prepared to recommend
stocics whose earning power, at
current prices for raw sugar, is
established.
I
We invite your inquiry on
Central Aguirre Cuban Amer. 1'itl.
Fajardo S. g r Federal Sugar
Holly Sugar National Sugar
Caracas Sugar New Niquero
South Porto Rico &% Preferred
West India Sugar Preferred
Atlantic Fruit Co. i% Debentures
Cuban American 6% Notes.
FARE & CO.
f
Members
N. V. Coffee ? Sugar Exchange, Inc. ;
|
Brokern in Haw i(* Refined Sugar i
Specialist* in Smj ir Stocks
133 Fron' St. (Cor. Pine)
Telephone John tS-l-S
Johnson & Wood
Member i New 1 oik Stork Ex.nan e
115 Broadway, New York j
Telephone Rector 6790
General Electric
Rights
J
i
Traded in on the New
V ork Sto:k Exchange
|
Holly Sugar
Amer.-Hawaiian S. S.
U. S. Finishing
National Fuel Gas
General Baking
Union Tank Car Equip.7s
Mexican Seaboard Oil
Everett-Heaney
Dawson &.<?
2 Rector St. Tel. Rector 9541
Lehigh Valley Coal
Sales
Del. Lack. & West.
Coal
Kirbv Lumber Com.
& Pfd.
Chic. T. H. & So. E.
STOCK & BONDS
C OrLTOJsT *sl G?
25 Prosd S .. N. Y, Phone 7160-1-2 Broid
Mark A. Noble Theodore C. Corwln
NOBLE & CORWiN
!S Itrond St. New Vork
Corn E . Bk. Rights
Home Ins. Rights
Telephone 1111 Rrond
Bank & Trust Co. Stocks
Morton Lachcribmcli- & Co
Hi'ckkI Stfcct, "KcwYorltj
OOCAOO DETHOI" PKILADEi-PHlA P1TTSRUROH
Private IVirr.n Conn retina Office*
NATIONAL BANK
OF COMMERCE
CLINTON GiLB^T
2 Wall Street. N. Y. Tel. 484a rte;tor
isiziiiiziirrzrTrziirririiririzzziirr^ziirrr 1
Weekly Market Letter
J.!WA?U.ISHr.O 1903
Members N Y Curb Market Asam.
SB BROAD ST.. " NEW YORK*
TKI.KFHONK IIHO.tO 7171.
7 EquitableTrust
company
or NITVV YORK
UytAU. VTVKKT
B* V?h,
> The National Bank
t of South Africa, Ltd.
Xl lets Rrtnurrrs F.iceed $4JJ.O)),03)
fc! ? 11 11 c. . K V I
II it nan oireei i\ew iora j
f K. r. Aunt,
December tut, 1X10
tVe be* to annnunre that
Mil. MARTIN R. AAPORTAH,
V'-mber ,Vf to Vnr), Htnrh KxrhtItt&i .
ha* thin day been ailmttted to part net I:>
uur firm.
ODDR. M'INMTlif. * CO.,
lirmbrrn Net, Yotlc ,-to'k Ksr^hUnL'
j 20 Utoad Bttv>t, hiv* ^oik.
v
P. S. DU PONT HEADS
GENERAL MOTORS
William C. Durant Resigns.;
lint Continues as Member
of Board of Directors.
? j
TO REORGANIZE CONCERN !
1
Now President Ke]m>ont-> !
$40,000,000 to $.">0,000,000
of Stock in Company.
Pierre S. du Tont. head of E. I. du
Pont de Nemours & Co. and the Du
Pont Securities Company, was elected
president of the General* Motors Corel
.ition. succeeding William C. Durant.
whose resignation v.'as accepted at the
same time at j'estcrday's meeting o." the'
hoard of directors. This is the tirst step
to bt taken in a reconstruction of the
utomobile concern's management as a
result of the taking over of Mr. Durant's j
speculative stock holdings by the du j
Pont interests, in conjunction with J. P. |
Morgan & Co., announced several days
ago.
Mr. Durant will continue as a member !
of the board of directors of the corpora- |
tion. The following statement was issued
by the General Motors Corporation:
"Pursuant to tli d? t i initiation o! W.
C. Durant to h lire from the p.y. : t : o
of the General Motors Corporation, at a
meeting of the board of directors this 1
afternoon his resignation was uocjptcU
and Pierre S. du Pont was elected his
successor. Mr. du Pont represents the
large interest of E. I. du Pont de Nemours
& Co. in the General Motors Corporation.
No changes In the officers,
personnel or In the conduct of General
Motors business is contemplated."
At the office of Mr. Durant the following
statement was given out:
"In connection with Mr. Durant's re
tlrement from the presidency of the General
Motors Corporation and hi* plans
1 for the future, Mr. Durant says that he
intends to take a well earned vacation
and devote his time and attention for
the next few months to his personal affairs."
Several days ago it was announced
that the du Pont interests, together with
J. P. Morgan & Co., had acquired Mr
Durant's speculative holdings of com- . j
mon stock of General Motors Corpora- j
tion and that a new company, the du i
Pont Securities Corporation, had been j
incorporated to take over this stock. '
A few more than 3,000,000 shares of
stock were involved in the transaction,
the value of which, it was understood i
at that timp. was fixed somewhere between
$40,000,000 and $50,000,000. A
part of the stock whs paid for in cash
and the balance In securities of the
newly formed corporation.
At that time it was understood that
Mr. Durant would resign as president,
to be succeeded by Pierre S. du Pont, j
and that he would be elected chairman j
of the board of directors. The failure ;
of the directors yesterday to name him i
for that position, however, led to eon- I
siderable speculation as to whether that j
plan had been abandoned. Mr. Durant, |
it is understood, lias retained all of his !
investment holdings of General Motors j
Corporation stock.
COFFEE MARKET.
A decline of 5-32d. in the rate of Rio
exchange on London, a lower Rio miyket
and a further break in Santos
brought out Wall Street and trade
liquidation in yesterday's coffee market.
On the call prices wore 1!' to 28 points
lower and sold off further later in the
day. The situation In Brazil continues
! very unsettled and the daily fluctuations i
in exchange make it next to impossible j
tor shippers to name a price on firm (
offers and t.lic offers here recently have
been for small lots. Buying power In
the local market seems to be limited,
although at yesterday's decline a prominent
New York Cotton Exchange firm
was believed to be buying heaviiy. that
Hi m having been reported as the one
which stopped most of the December iiotires
a few days ago. Final prices were
net 27 to 33 points lower. Firm offers
from Brazil were about !i cent lower
on the average and prices continued to
. be Irregular.
flange of prices Mnn- j
Open. High. I.ow Close, ilay.
I December... 8.00 d.UO ?. Ill ?.?(?-70 il.'.'O '
Tanuai-y tl.sn.jt; Ti;
February ... 7.00-01 7.3.1 I
March 7.30 7.30 7.10 7.21-23 7.0?
April ... 7.40-41 7.72
May 7.0." 7.70 7.02 7.00-01 7.00 i '
lone 7.70-77 8.0.'. |
July 8.00 8.00 7.irj 7.02-00 8.20,
August 8.03-05 S.;3) I "
September. . 8.22 8.22 s.10 8.13-10 8.10
October 8.23-25 8.00 j
COFFEE CABBES.
Rio v.as 23 to 300 rels higher for futures. ;
Dollar rate 100 higher at 0?000. Exchange
0-32d. lower at 12 3-32(1. Receipts 0.000 hags
and stock .027.OOO hags. Mailtos spots not |
quoted. Futures 20 to 70 rels higher. Receipts
dd.OOO hags snd stock 2,700.000 hags.
Receipts s ( the ports were 70.000 bags,
egnlnst 21.000 last year and 10,000 two years
ago. Sao Paulo had HI,0H0. against 17,00(1
; snd 38,000, and Jundiahy 10.4*10, against
12.ooo and 23.ooo bags respectively. Fine
! weather was reported In three districts of
Sao Paulo, cloudy In ono and showery In ,
NO.
Brazilian coffee statistics (corresponding
day last month was a holiday):
Yesterday. I.ast wesk. |
New York deliveries.... 11.207 8.21 I
New- OrlMM d' liveries. 11,037 13,901 I
Total deliveries 22,214 20.714;
New York stock 817.723 830.s?8 i
New Orleans stock 2rtt,!":l 220,320!
Siock al all ports 1,072,084 1.200,188
A flea r 028,100 838,100
, Visible supply 1,707,741 1,725,288
j Bast year's visible 1,900,001 1,049,042
PKYY8YI.VA8M OIL M \ IIKET.
Olt. Citt. Nov. 30.?Credit balances,
$0.10; runs. 80.74fi ; averaggL 64,659; 3
shipments, 95,814: average, 56,436.
DIVIDENDS
?tork of Pay- f
flacorrl. atol*. i
Am. Can Co.. pf. q.. 11,7V .Dor. 1 r, Jan. ?.
\ni. VVoolor. Co., r\.. Dec1. 1."? Jfin. 1 *
Mil Wool. 1 O., pf. (| . 91.T.I. INN-. I. .la II. 1 1
Ark Nat. (In* Co., ...D?e. 10 Dae. 30
Ark. Nut. Cam Co., extra tl.tlcr. 10 Dm .'.0
I'.peril Cr. It., q . ittiar. 50 Dor. IT Jan. 3 '
Duff. ? Su-I. It.lt , M . ft 75.Dec. 1.T Dr. , ;;o
Duff. A Su*q. U.K. c:;tra, ft. Dee. IT. Dec. .10
Duff, t k'tifi It It., pf | . * : Dor. l.T |)w. 30
C. ,R. 1.4 P II ,7'e pf. a-a f t "O I 10 Dec . 31 1
C .II I APR.. f-T, pf *-? *3.. Dec. 10 per. 31 |
i otnp -T?b. Ritnrd., q., fl I>rr. HI Jan. I ]
Draper Corporation, q., $5 .Pec. I Jan. I
Indian Refining Co.. q., TO-. Per. X Pec. l.T '
Did lief Co.. pf. q.. $1 .75. I>.N'. H Pre. U I
Rett. M. Co.. lat pf. -1., fl T.VPer. 31 Jan. (
Patt. M. Co.. 2d of. q., fl.7T. Drr 31 Jan. 3
Standard Oil of Ky., q , 13 . Dec IT Jnn 4
Wrat Bnd St. Ry.. r a ?2 Pec. 20 Jan. 3 (
EX-DIVIDEND TABLE.
To-day.
American T^ar rtock 110%
American Dill rod 75 i
American Sugar Refining 1 (T
Ami-ill mi Soger Refining pf J.75
fturdrn Company pf J.1.0
Canada S. H l,lne? 1.73
i anadlan Parifir Railroad 2.50
Ea-nrrn Htrei |at yif 1 75
Kantrrn Steel 2d pf 1.75
Dili horn <'.,al pf I.Tf
Kl l'axo Electric 2 50
Mrf'rory Store*. Inl 1.00 1
Nile* llrmrnt A Pond 2.0()
I arlflr Mall frO
Pacific Mall, ulrn t .50
Ivrrlrp" Truck t. Motor 75
Todd Shipyards 2 00
Colon American ci?nr, pf 10 Of)
t'nlon Pacific 2.50
Culled IP-tall 8torea, atock 5*
If H. cast Iron pip.. A Fdy.. pf 1.25
S flirrl 1.25
Wrat Prnn. Ry., pf a 1.50
Thursday :
'on.. Nee Orlrana A Trxa-i Pacific, 3 00
Inn, Ncn Orleans A Tex. Pacific extra 3.50
.1. Y. Airbraka 0* #.50^
\
THE NE^
BONDS IN STO
TUESDAY. NOV)
f>ay's sales *14
Year to date.. 4,126
ItANGE OF I.II
(All Liberty bond transaction
Closing. Sales (In
Bid. Asked.Yield, J 1.000s)
M.00 91.20 4.20 1,044 lifts (1032-47)
86.50 87.50 4.86 .. 1st cv. 4s (193:
io.60 85.70 5.04 II 2d 4s (1927-12)
16.72 87.00 5.14 76 1st cv. 4 U >> <1
15.64 85.70 5.28 2 2d cv. 4!^i <19
.. lst-2d cv. 4fts
18.42 88.50 6.15 1.514 3d 4',s (192S)
>6.16 86.20 5.41 2,664 4111 i (1933
15.66 95.70 6.62 1.420 Vic. 4*, n (1922
15.66 H5.70 5.64 800 Vic. 3:!4 h (13.J
United States, Foreign Government, F
French I'ep Hs.AmTtT Clt 4a Chi A N \S7s
receipts I 43 70 4...... 10234
3 100I4j 5 753| 1 1025$
21 100 | 23 73&8 1 102!>4
47 100141 Armour 4>S? 3 103
5 1003$ u 701$ C 4c N W em 5s
21 IOOI4 A T4SK rv Is 1 (15
8 IOOIh 4 . . OS cat N W flu 4s
. . IOOI4 I960 4 . . 77U
n vofl.yons #s 1 811 stamped
I". HO A'l 5 sKtrn t. 10
City or Mar- 7 CA N \V ilrbli'21
seiiies Cs 15 75"' ,'j.i
1 30 : CO ~ ChlANW es 4s
City of Paris 6s; 5. s3o. "ftfts 1. . Ssi:j
2 04la| 12 7.">"s Chi Hys 1st 5?
0 043s 0 7334 5 023s
3 9413! 1. 757$ ChiRIAPIty4s
Culled Klngdm 9 75?$ 7 717$
?Ha mi ' 11 7534 Chilli4cP fd 4 s
6 9734! 13 755$ 7 663$
6.. 977$. AT A SF adj 4s 30 605g
8 97341 stamped 2 6OI3
1 977$ 2 701$ 2 07
5 98 ! ATASFBOk 4a 14 6034
1 9.34; 1 84 1 660s
?Hs 1327 ' At Coast Line 7s 3 601..
101. .947$ I 102 (hi 1 11 ASK :,s
111 93 At CosstLlne 4< 2 07
3. .'iflln 1.. . 78 Chll'nStn 6Jjs
S . .94"$ 1t>. '.HI 1 certlllcale*
03 All I I. fit IS I ; ?>' '
3. .S.H.. .947$ 1 ?. . .; 1*1| Clli A W lull 4 ,
6HS 192'1 AltautH'r IIP' 7.. I . . 3SI.1
74 883$ 8 74 2 3H
2 88<$ 9 Chile Copper 7s
5 89 2 7314: o 93U
8S34 Bait A Ohio As 1 93
4H* 1937 6 901g 6 92U
1 8538 12 91 5 92
5 8512 B A O Bs 1995 5 923i
8 8684 4 0814 10 91
1 8558 4 6818 3 92
2 861a 10 08 5 917g
6 8538 10 0734 8 9134
10 85I4 1 ?8 7 9Ua
25 85 5 6734 2.. 0114
1 85lg B A O CT 4H? 1....... 91
1 .85 7 09 20 90
1 1851s 2 071s Chile Copper 6s
ft 85 BaltAO gold 4s 3 051a I
i.'elglanGov7<-Ss 10 08.V 0 055s
1 98 ! 2 0811 II 05
3 9712* 17 0878l 11 6434
2 98 | 9 .. 68341 6 65
4 9778 BaltAOhio 34s 1 6312
Belgian Gov 0^ i 18 82 1 66
loss 1 . slO .-SlI*: 9 6312
1 9112 BaltAOS W 34s 10 68
r....'.,.91 8 .7612 1 6434
win Gov 8s 2 761* 8 0414
receipt 2 761g 10 64
10 ..102 BAOPLKA 16 64U
4 102U W Va 4s | 83... ... .64
6 10218 2 64 ! 10 631*
1 102 BAO TolAC 4s; 5 63U
l Ity of BerneSs 1 53*8 6 63ls
certificates i 2 54 I 17 63
1 9738! Bell Tel Pa 7s j C CO A St I. (Is
5 97/ | receipts j 1 80!;;
2 9fl8| 6 102 ! 5 891.|
1 99 3 10l7g 1 89
8 no j 4 102 CCCASILgnHs
Cityof ZurlchSs I 1 10134 3 6!)
receipts l 13... 102 1 .... 68
2 97 4 10134 C C C & St I.
2 0714 Betb Stl I'd 5s Cairo 4s
City Of Copen-j 1 791g 1 74
bagen 54s . I> 79 I Co! F A I gm 5s
3 74 Bkn Rap Tr 7s 4 7612
City of Chris- j certificates Col So ext 44s
tianla 3s ; 5 4312 3 7214
17 981a BusbTerninl 5s Columbia (l&E
Um Canada54s 2 09 , 1st intg 5s
1021 ICenGacnds 2 821*
5 987g 1 863r 1 82
56 985g Cen Leather 5s Con Gas 5-yr 7s
1029 ! 1 90 j 4 100
4 Pllg 1 901* 10 10014 |
2 9012 Cent Pacific 1st ^ 2 100
4 9014 15 721* Cuba Cane 8 cv !
1 0 90 4 723g 5 8534 i
6 901g 15 721a 1 86
1 9013 1 72'V 1 853|
DomCanada 5s 49 72ig 8 ?5ls i
1921 10 721a 5 8518
6 085B 10 723g S 851.
1929 9 724 DelAIT cold 7s
5 9034 Cent Pac 34s 1 1- . lOV t
1 1 91 10 77 ' DelAIIud CV ts
1931 Cent R R NJ Ss 10 85
2 90la 2 091a DelAHud f<14s j
3 905#' 1 OO lg 2 78T? '
1 90 | 1 991; Den 4; R G s
Rep of Cuba Sn 1. . 984 1 70'i
1904 i Cbes A Ohio 3s 714 j
1 .77 5 9234 2 71
1. r30 . 78 C it 9 c? is 46 Den Si R G 4! >
2 781.| 8 841; 4 671;
1 1 781a 20 8411 Den Si Rio O 4s
Rep of Cuba4,4s 1. .843s 2 044
2 634 11 8414 Den Sl KG fd 5s
1 62 I 5 84 4 *30. 491;
L"8of Mexico 5s C * Ocr 44s 5 4't?s
1 4434 40 73 1. ... ..495s
4 45 Cbes & O 44s "a 481.
5 4434 1 747g 4 49
10 441a 9 74 14 15 491
5 4414 CAORAA 1st 2 493,
10 *30 444 4 721; 8 497,s
I'S of Mexico 4s CbiAAIton 34? 2 403?
5 ...36 i 5 36 28 491; j
10 830 35 5. 3514 Det Edison 19
(blneseOoTt 5s 10 35 I .89
1 2 421a Cbi 3c Alton 3s Det Ed 5s 1940
Japanese 1st 4 4* 6. 461; 2 .81
1 7434 1 . 4534 Detroit On 4!$s
2..430.. .74V 2 .810.. 441a 1 6.3
1 747g. CB4CJ Joint 4s 2 621*
4 7434 16 961s Dill 3c I R 1st 5s
Japanese 2d 4.4s 10 9612J 1.
2 7434 10 .063s E T V 3c G con
31 744* 21 961; 1., . ,880s
Japanese 4s 1 963s Erie 1st con 4s
2 5634 10 961;1 1 535s
?? 4 96.1s' 9 .131 a
NYCity4M?55 Chi B&Q gm 4s Erie cv 4s ser A
25 9338 4 78 2 . .4034
NY City 4ft 1958 ChlBAQlll 34* 4 407*
1 831*1 1 711a 10 40
NY City 4s 1959 Chi 3c Erie 1st Erie cv 4s ser B
1 8.314! 5 78 .1 413*
1 831; Cbl at West 4s 21 40
I 641s! Erie cv 4s ser D
Adsms Exp 4s 6 54 1 48b*
2 50 Chltnd&l/ou 5s 13.. 4s
Alaska O cv 8s 5. 79 Erie gen 4s
Series A C M A St F cv 3 . 44
1 17 : 44*8 9. 438g
Am Cot. Oil 5s 1 71 19 4 1;
6 7618 2 701* 20 438s'
AmSmeltA it 5s 3 70 Gen Electric ?s
10. .830. . 75 1 701* I 9:S34
4 951* C M A St Pgm Gen Electric r>
6... 75 I 44s 3. H.-,:l4
AmTAT cv ?s 5 771* 1 S6I4
3 943* C M A 8t P fd Great Nor 4! s
4 945* j 4Hs 10 mi,
3 P43t 2 OOI4 GulfAShiplsl 5s
I a 951* 1. .. 60 10 OS
6 941*' Chi MilAStl' 4s Hud A Man fd
AmTAT t'lt 5s 10. ...681* 6s Series A
4 80 | 1925 I 1 611*
1 7934! 2 811a! 1 . 61
2 791* ChlMllAStPaui 611*
AmTAT cv 44s W 4k M dlv 3 m \H
3 605gl 1 977))! 3 611*
CONSOLIDATED EXCHANGE.
Absence of supporting orders ami l!b>r?l
offerings were the chief Influence j
for substantial declines in all industrials!
luring the final hall' of yesterday's Con-j
- n I it Li t pel Stork ICxchaniro trading. lie
ill*. In which there hud been a definite
how of strength In the early trading,
falling In line with the general downward
trend. Southern Pacific led the
rail* In average lo**e* of a point to .1
point*, that te*ue moving hack I!7S from
t* early high to 10*\. A decline of 7
point* In Replogle Steel to fif>'i and it?
ater rally to 70'? were outstanding lealure*
of the session.
Crucible Steel wh* offered down S"?
Stone &
INCOKPO
147 Milk Straat 120 Bro
BOSTON NEW 1
LAAM1INA11UINS
of Induntrial and Pub
REPO
on Valuation and ()t
lyqrk herald, wi
ck exchange
iilDKU 30, 1920.
1920. 1919. 1918,
,009.000 $29,064,000 $10,816,000
,658,000 2,317,081,000 1,759,852,000
1E11TY BONDS
s subject to 1-16 brokerage.)
Net
Open. High. Dow. Dast. Chgs.
91.90 91.90 91.00 91.00 ?.90
2-47)
85.72 8;, SO 85.72 85.90
932-47) 86.98 80.9S 86.72 86.90 -f.18
27-42). 85.84 85 "0 85.62 85.70 ?.18
(32-47) 97.00 97 00 97.00 97.00
...... 88.80 8S s0 88.42 88.50 ?.30
-38)... 86.34 S<:.34 86.04 86.18 ?.18
-23)... 95.S8 95.90 95.70 95.70 ?.10
-23)... 95.90 95.90 95.70 95.70 ?.10
tailroad, Industrial and Other Bonds.
Hud&Man fvdj N V Tel <leh Ss StP&KCSL4H?
3.......S3U 1 89'3i 1 ?4U
111 Central s 1 SOU1 1 ?4
1 90U ? 8913 St I'M 4 M M CCs
1 9014 NYTelgm?4? 1. 10.':^
Ill Cen fd 4s 5i 5 75#8 StP M&M C-js
1 7411# 1 11 7513 1.. ... .88
HI Cen Lou 3tjs 0 . . .VS) :? . . ssu
1 6.-I3 (, 7;,' StP& N I'sc 6s
WCenChJeti Vs .V... ...7 ..1., 1 100
;;oU NewtJrTer 4*A S.tnAiVAPam is
intrrb It T id d 01
Is l?6j NY W ostein's: r ' <',ibd A L ?dj
20 7.2U & BoatouCji 14 38
6 Silly 11 . . .3*.'7(4 .'> :iSla
18 7>23r Norfolk Sou .js Seabd A I, fd 4s
?? toi.. 1 r.-. 1 ail.,
V>.".L'Sg 10 54 Seabd A t 4s
3 521a Norf&W cv 6s 1 657(4
M 523s - 1041-j So Bell TAc Tel 5s
10 5213 0 1041.1 3 81
6 52U 20 1031a 5 8012
Interboro- Wet Norfolk At W 4s SouthPac cv is
rol trust 4t^s | 3 743(4 6 112
10 I8I3 3 "5I4 f> Ill
31 IS : f, 7.51a 1? HOI3
1 1778 N'orf&W dtv .s "7 .110
3,. 173s ft 7f?78 SouthPac cv 44 >
It. ,171a NorfJtM'l'orat I" . . ."084 I
certificates 2 7. . ..7t2>s
10 It. Northcral'nc 4 '' 7'-V
lilt \?r ? It 5s 1 77 '1 ... 7U&(
7. . 73 3 7ft 7ft78
JntM Marine 6t ? .1714 1 .. ."0H4
3 7o~y NortberuPac 3s 1 7t>la
3 SO . ,2 5514 10 7"6S
1 7078 2 65ls ''2 7ftl3
15 7034 1 54% South Pac fd 4s
5. .s30.. .705$ Nor States Pwr 13 741a
5 70.34 1st 5s Ser A South Pac 4s
1 1 791a 1 7R18 1 703g
KC FtS At M 4s Out Power 4s | 1 80
6 64 1 78 10 0918
1 64I3 Out Trans 5s SoPacSPter4s
18 031a 1 04 3 7078
Kan C 80 Td 5s Or at Cal 1st. .Vs Southern Ry 5s
1 721g! 1 88l8! 2 8512
4 72 ! Ore 8h L fd 4 South Rygm4s
Kan City So3tl t .'.SO 1 6012
21 53 ! 1 703(4 0 S.6OI4!
7 527(4 Ore Wash RRA 0 501g
KanCltyTer 4s Nav fd 4s 2 591(4
2 7134 4 0914 ^ 501a
Kings Co 4s i 601a 1 591.t
1 5334 P?cltlc Oas 5s I 801a
stamped , 1 7ft So Hy MAO 4s
3 63341 1 763(4 * 5?U
Lack Stl Ss 1021 1 7ft!2! 1......57
1 .0214 Pac Tel At T 5s Te.vAtPac 1st 5s
Laclede Gas As 1 81 1. 8OI4
2 717(4: 1 807(4 Third A v fd 4s
4 72 4 8OI3 _ 8v
ls?: MS 4a lsjs i tona js i ? |
2 St 4 104)4! 1 7SU I
LS4MS 4s i?31 2 101 PnPac 10-yr ?s
0 81 .Jit! 3 1041s 1 001 a j
LS&M83i.js; 1 10414 1 993,
4 09 ! 2 104 I 0 09 I
Lehigh Vnl ?s | Fenna Ss 19<M CnionPaciflc 4s 1
n 081a! 15 89Ir' 1 8098 j
Long Is! fd 4s; Penn gm 4Ws A 9 801a J
1 0 OS 3 SOI ,' 10 807* [
Lou 4 JelT B 4s 6 80V 10 801, j
s... (WWg s. ....sola 7 801? I
Lou 4 Nash 1st 15 807r 1 81
1 104 Penna 4Hs 19:1 Union Pac cv is |
1 1 1041s; 1 P8V ? SOIa 1
Lou 4 Nash 4s Penna 4Vts 1900 1 80 >4 j
b 8CI8I 4 891 g ?. ...807K|
1 803, Penna 4s 1944 18 81
1.4 N NO A Mist as 83 20 803.,
2. . . .997,, Penna K E 4s 1 1 81
Lou4N StL Bs 5. ..... 03 I 1 801a;
2 OOI4 Peoria & E 1st1 ! ' 8034
Lou4NStl.3S| 1 6!7r 19 80Sg
1 51V P Lorillard f* UnlonPac fd 4s
0 51 I 1... 776R ? 74
L4 N 80 M 4s PoeaConCol 5s '9 733t
1 .05 1 7s Co RR 8F fd
Manhat Ky 4s Pub Scrv Corp Kq Trust ctfs
stamped I of N J Sa 1 ? 284,
3 53 j 2 HI Un Trust ctCsj
Mich Cen 3tts Reading gm 4s 8 291a ;
1 70 j 1 821a *- 8 Rubber 7- t, !
Midvale 8tl 5s Read JC rlt 4s 8 9~7*
0 72U 15 OOI4 < 971^
1 721^ Klotlrande W4? > 975#
1 0 72U| 1 04 2. . ..OS
20 72 R1 Ark 4 La 4 Us v 8 Rubber 7s
1...C. ..7178 17 05 < 98
Mo K 4 Tex 4s 3 05lg " J& Rubber 5s
exJuncrpn 6 65 7 761a
15 60tg 0 64?3 1? 70
7 50.I4 9tL4IronM 6s *9., 70I4
2 583, 3 87 4 7012
Mo Pac 5a 1921 8t 1.4Iron M 4s ' 7014
1 . . .S8I2 4 71ia ?' 78
Mc Pac gm 4> 3 72 ~ ^ 8 Steel sf 5s
11 64 ' 1 71 ly 3 921s
M40hlo new 6s 2 71 ' 92
1 sio .07 St L 4 Iron Mt 6 923*
M4081 L4C Kiv 4 Gulf 4s fil "2
gtd 4s 19.71 2t. 6812 1 917h
1 7334 StL A SanFran 1 92
Mont Pwr .Vs Series A fi 91<ig
19 SO , 2 6034' 6 92
NO Tex 4 M 5s 22 607* 27 013,
1 69 30 no.., Utah Poser 5.
4 5834 1 605R ?1 78,3
N V Central 7s 4 .0034 faro Ch 1st
receipts 6 601 < 2... 017fl
1 102 , 3 6014 ValronC4( 5s
2. IOM4 4 6012 ' . 8314
1 102 StL 4 SanFran v HWtnian Ity 5.
4 10134 Series B , 8 82I4
0 101 5r 20 74 1 2 8;<
1 102 2 73?s V* R'r 4 '' *?
1 10178 StL 4 SanFran 1 0014
a 102 Series C Wabash 1st
N V Cen deb fis 1 , 871,,' a 85
1 .. ...02l? Stl.ouis.stV 1st w'"? *0 <?
41 92 I 07 7 55
N Y Cen deb Is 3 1,034 W NY i Pa Is
5 771, 6 001* ^ 8?t VI4
2 77 1 00 I 1 8OI4
12 773, l.tlO. ..00 3 8OI4
N Y Cen 3t4a StL 4 SanFran WestPadflc 1st
3 683* (nets ' 84
1 09 10 .... 601, West Shore 4s
2 OSI4! 1 10* 2 79
1 .. . 081 ^ J ft /IOI4 1 691a
NYChl4StL 4s 30 50 W's'lnghv-7.
8tL.lf,Anrr-';
A 'A
N ^ Dock 4* 10 413*4 A nl?
1 ?4 3 .05',* * "ft,
N VNH4H4S 47 10 633,1 ?
1 89 1 64 ,
svmijHi. it. .-ci.i 1
*YonV&w4? l- ;'j>
N Y Rys fd 4* ' 1 ,M" t i!.1,0
certificates J 'Mlj, wtlsonACo Is
5 .21 | 1 ** j | H71 j
N V RysadJO- 8tIa>Ul?8W 8s ! r, X7
n 4:1. ' 02'8 W llhOD ii ( ,1 ,-v
10.. .... 41a 2 ? S..I4
certificates ? #2!g 7 Hi
17 47S 2 OJ II b,>.
N Y 8 A W fd As 2 C2la Wis Central <
1 .^Ih StLHW con 4s| 5 7(?lj
1 1 aaflgl
to *7, tTnlted States Steel t'4 to 81%,
Vanadium 2 to 41, Bethlehem Steel I!
1 Vi to 02 %, Baldwin Locomotive 2 to
ltd, Mexican Petroleum 314 to 133%,
Pan-American 2',4 to 77'.,. Middle SUit< h
to 12',4, Studcbuker 1 to 14%. Anaconda
to 0314. American Smelting 1 to 44 %,
Chile 3 14 to 8. Seneca to 16% and American
Sumatra 1 to 72%.
New Haven yielded 2% to 13%, Texas
and Pacific 2 to 1814. Beading I1, to
37'4. Ht, Paul 114 to 32<4. New York
'Vntrnl i ?* to 73 >. Oretit Northern preferred
2 V4 to 73, Northern Pacific 2 to
40, Erie to 14"t?, Retail Stores 214 to
0!i*4, Corn Producta 114 to 72 and Stromberg
214 to .13%.
Webster
II \ I (CD
iflwtf 38 So. Dearborn St.
rORK CHICAGO
AND STUDIES
lie Service Properties
RTS
Iterating Efficiency
K
3DNESDAY, DECEMBER 1, 1920.
! $4,000,000
; The Niagara Falls Po1
i i ^
First and Consolidation Mortgage Seri
Dated Noretnber 1, 1920
0
Interest peyable semi-annually, May 1 and November 1, In New "
to pay Federal Inoomn Tax lawfully rtoductible at the source, up to
$600 and $!.0'tn Principal may be registered. Redeemable In wh'
pany, at 106 and accrued Interest, upon sixty days' notion. The Ma
Authorised Iserue, Series A A, *$15,000,000
The total amount of Ft rot and CMNcllAsttos liNtyift Bonds
so that soosr at asy time shall these be outstanding an aggrsgati
PROPERTY: The Niagara Falls Power Company owns and ope rat
American side of the Niagara River at Niagara Falls and co
of the Falls owned and operated by the Canadian Niagara 1
stalled generating capacity of the four generating stations on
mately 373,f>00 horsepower, and the additional 112. 00 horsepo
the Canadian Niagara Power Company brings the aggregate
power. Plans have been perfected for a combined capacity c
EARNINGS: The total net income of The Niagara Falls Power <
a nuv for tha twelve months endpH Sontpmhpr .90. 1M5>0 availnh
lent to over two and one-eighth times the annual interest re
debt, including the $4,000,000 First and Consolidation Mortgaj
for the twelve months ended September 30, 1920, do not reflt
three new units (aggregating approximately 112,500 horeepow
VALUE OF PROPERTIES: The real estate interests, power hoc
Niagara Falls Power Company and the Canadian Niagara Poi
with trustees under various mortgages, are carried on the
September 30. 1920. at $05,999,366.77, cr 523,753,366.77 in ex
panies outstanding in the hands of the public, in'luding the .
First and Consolidation Mortgage Series A A 6% Cold Bonds
these properties beyond the total funded debt outstanding in
present market values of the preferred and common stocks,
IV Soeaitty for these Bonds, Sinking Fund Previsions, Purposes of
property and business of the Company, are set forth in a letter furnie
and General Manager, copies of which we shall be pleased to furnish
Price 87V2 and interest, yiek
uaruance of these bonds is subject to the approval of Public Sen-Ice Corrrmiss
Bonds are ofTered it. as and when issued nnd received by us. The proceed!!
ogallty of the indenture securing the same will be passed upon, in our b<
Spencer Trask & Co.
t 25 Broad Street, New York
Schoellkopf, Hutton
Marine Trust Building, Bu
!AU mformation gtven herein is from official sources, or from
bmi ii no event ore the statements herein contained to be
'J==========B?==================
$1,000,000
State of IVIichigan
Twenty-Year 5% Highway Bonds
Tax Exempt in State of Michigan
Free From Federal Income Tax
Dated December 1, 1920. Due December 1, 1940. Principal and semi-annual in
June 1 and December 1. Coupon Bonds in denomination of $1,000
Legal Investment for Savings Banks in New York,
Massachusetts, Connecticut, Michigan and other States
These bonds, in opinion of counsel, arc direct obligations of the i
of Michigan and are payable from taxes on all taxable propci
We recommend these bonds for Investment
Price 102.55 and interest, yielding 4.80%
Complete circular on request
Harris, Forbes & Company
Pine Street, Corner William, New York
Harris, Forbes & Company Harris Trust and Saving
Incorporated Bond Department
Boat on Chicago
I
[r
Tbe undersigned beg to announce the formation of
co-partnership under the name of
Barstow & Company
Ntembert New York Stock Exchang*
IS EXCHANGE PLACE NEW YORK CITY
Ttlepbone Hanor?r 74M
To deal in bonds for investment and transact a general
brokerage business in securities
t
George E. Barstow, Jr.
H. C. Conkling
Satb S. Spencer, Jr.
December I, 1920
i' 'i :
nn-TDEMW AND INTKHEST. ^ mVIDr.NIW AM) INTKKKST.
American Te'ephone & Telegraph Co. orriCK of ______
... . The United Gas Improvement Co.
Thlrlj V?r Ftte Per Cent. Cotldrril '
N. XV. ( OIl.NKK BROAD ft AIM II HTRKKTS IIIVIIH
Trn*t Gold Bond*. One Dee. 1, 11)48. Philadelphia. Sept. 8. 1?20. ~ '?
The Directors have thin ?tny declared a Ml 1,1, I'M
Coupon* from the** bond*, payable by their qtier'crly dividend of one mid three quarter* 1)1
term* on December I. 1P20. at the office or P,'r .r'nt: t?'1*" wr "hnr,,> J"' Preferred Notice I* he
_ .. .. . __ . , stock of this (ornpany, pnyahlo Daotmbcr Director* of t
Agency of trio Company In Now York or In mf 1920, to hoi dors of Preferred Stork of declared h ?IIv
Boston, will bo paid In Now York at thr record at tho closa of business November 30, <'lau A Stork
Banker* Tru*t Company, in Wall Street. I ^t^tcd'Noven
U. D. MUuNU, Treasurer. 1- W. MOJUUS, Treasure!. OK1
' '
" \
wer Company
es AA 6% Gold Bonds
f Dm Nn?nk<r I, 1950
VrrrY nnd Buffalo. Cwiiiwh to dbTlmt*?
>2%. Coupon bonds In denominations at
nle or In part, at the option at tha ConsTine
Trust Company ot JHoCate, Trust oa.
To Be Pin?fly Oatsteo&ft $4,000,009
which may be aaeeotod I* Hai>u4
e principal earn eeeeedlng |70,000^)M.
n all the hydmelecti lc power plants <ra the
ntrols the power plant on the Canadian side
Power Company. The present aggregate ini
the American aide of the Falls is approxlwer
installed in the generating stations of
of the sys'..m plants up to 486,000 horse
>f about 620.000 horsepower.
Company and Canadian Niagara Power Com- \
le for interest on the funded debt, was equivaquirements
of the total outstanding funded
je Series AA 6% Gold Bonds. The earning*
set the full benefit from the operation of the
er) which hare recently been installed
ises, transmission systems, etc., owned by The
>ver Company, and the investments pledged
consolidated balance sheet under date of
cess of th^ total funded debt of the two com$4,000,000
The Niagara Falls Power Company
; to be presently outstanding. The equity in
the hands of the public, as represented by the
is easily over $23,000,000.
Issue and complete information resrtmlhtfr the
ihed as by Mr. Paul A. Schoellkopf, President
to investors upon application.
ling over 1%
Ion for Second restrict of State of Jfow TorV
>gs relating to the Issuance of the bonds and
shalf, by Messrs. Mast en & Nichols. New York
E. H. Rollins & Sons
43 Exchange Place, New York
& Co.
iffalo
those which ma regard at rrtiahla;
regarded as amr representation*.
i
. TheFarmers'LoanandTrust
Company
lfl, 18. 20 and 23 WILLIAM STREET,
New York City.
Coupons and Dividends due in
December are payable at this
office on and after December
1st, 1920, as follows:
__________
Armour & Company
Chicago, St. Paul, Minnca| ol s & Omaha Ry.
! Co., Equipment Trust Certificate*
Commonwealth Water & Light Co.
Durham County, N. C.
Johnstown, City of (Water Bonds)
| Larchmont Water Company
Midland Terminal Railway Company
Millard Lumber Company
i Mobile & Ohio Railroad Company, 1st Mtge.
I {.nrr
terest payable Nip4"n<ie Wafcf Work, romp,nj
New Castle City Water Company
New York Business Buildings Corporation
Peoples Street Railway Company
It......,,-.),,., ISth. I!?30.
Durham County, N. C.
December 17th, 1930.
Village of North Pelham
CntirC State I December 30th, 1930.
"tv therein Sleepy Hollow Country Club (Regiilered In^
' tcreat)
DIVIDENDS.
December 1st. 1930.
Sheffield Farms Company, Inc. (Preferred)
F. W. Woolworth Co. (Common)
New York Shipbuilding Cornoration^
TO Tin; IIOf.DKKS OF FIRST MORTGAGE
5% BO-YKAK SINKING FUND GOLD
BONDS OF llt SIl TERMINAL BUILDINGS
COMPANY, DUE APRIL. 1, 1980.
Tlie undersigned, Trustee under the Mort'
Rape given to secure the above described
Issue of bonds, desires under authority of
said Mortgage to expend the sum of Ons
hundred thirty-four thousand ono hundred
i eighty-one Dollars Seventy-three Cents
I ($1.14,181.731 In the purchase of bonds of
; said Issue for the Sinking Fund, provided
| such purchase ran. In Its opinion, be now
made advantageously. Sealed offers of
said bonds may be sent to the office of
R c the undersigned. Trust Department. 80
s D.J UK Broadway, New York City, on or before
December 13, 1920, at twelve o'clock noon.
Bonds accepted must be delivered on
December 14th or security furnished that
rlav, If required, that delivery will be made
within ten days. Tho right Is reserved by
; th? undersigned to reject any and all
i offer".
COLUMBIA TRUST COMPANY, Trustee,
My GEORGE E. WARREN.
" Vice-President.
I Dated, New York, November 22, 1920.
Sew York, December lei, 1DH0
We announce the opening of a
Branch Office
in the
DELMONICO BUILDING
Fifth Avenue and Forty-Fourth Street
under the management of
Mr. JOHN C. TAYLOR
Charles E. Brickley & Co.
Members New York Stock Exchange
Broadway ------ New York
SUte Street Widrner Building
BOSTON PHILADELPHIA
=dJ
:nd? and interest. nnii'imi- \m? intf.iikst.
iCTOIt* COHPOICATION. AMKIill \N CllirT.K COMPANY.
VIDIONP NOTICE. I'UKt'KllIlKD 8T<X'K DIVIDEND
reby Riven that the Board of Now York, N. V , November 30. 1020.
hie Corporation hue till* day The Heart! of Director* haa this day dr.
Idend of Two per cent, on the dared the regular quarterly dividend of on?
, payable January 2d. 1021, to and one half per cent. payable Janti
f record December 20th. fry 3. to atockholdcre ol record at 12
ther "0th 1020 o'clock noon on Pec tnber IS, 1020.
uru?EJ w'. WEBB. Secretary. M- V. BROMBKBO, Secretary.
^ f ' * -fgt

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