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The New York herald. (New York, N.Y.) 1920-1924, December 08, 1920, Image 14

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1920-12-08/ed-1/seq-14/

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pwyn . . '-^vr11-' . ." ? " 'j"
14 4++
??? 6
f I i
;
$200,000
City of New York
Registered 3}j% Bonds
Due Nov. 1st. 1927, 1928. 1929
Exempt from ail Federal
and New York
State income taxes.
Prices to Yield 5.20%
To residents paying a 3% New
York State Income Tax. a
5.20% basis on these bonds Is
i equivalent to a 5.33 "J basis on
bonds subject to this tax.
The National City
Company ;
Main Office: National City Rank Bldg .
. | uptown Office: e* j
j L
I The Trend Toward v
Public Utility ^
I Investments j
During the war public and
railroad securities were in much
the same position. There has t
been a distinct improvement ii
in the position of rails, and now
there is an undeniable trend in t
favor of public utilities on the i
part of investors as a result of r
stabilized earning power and
the present attitude of public s
service commissions. c
I '
Write for Circular 8650, which n
; describes an attradice public util- e
.......A S*/)i
c
Bonbright & Company
Incorporated
25 Na**au Street, New York
I >
We Own and Offer
$150,000
^ U. S. Government
js, igoi
To yield over 4%
The U. S. Panama 3s is the
longest term straight obligation
of the U. S. Government
now outstanding. A
totally tax exempt security
well suited for trust investment.
RB
C. F. Childs & Co.
120 BrondwH> 20H s?. Tjt Salle St.
New York ('lilrngo
'/Vie Oldest tin use in America Deal
intj Exclusively in Government Bonds
B
I
The Southern Pacific '
1 guarantees by endorsement, >
principal and interest of the (
Central Pacific
European Loan 4s of 1946 '
; 1
p*VEN though the price
*?' of these bonds re- ;
mains stationary, an investment
in' Central
Pacific European Loan 4s
at present prices offers
the possibility of a 40%
profit, when Sterling returns
to parity.
Circular H-61, giving detailed
description, on request.
George H. Burr & Co. ,
Inrestmen' Securities
Commercial Paper
Equitable Building
New York
_
Our Office* in 15 Cities Offer You
A National Yet a Perianal Service
Exempt from I
Federal Income Tax I
Fayetteville,N.C. I
6s I
Due 1922-1936 A
ASSESSED VALUATION W
$11,500,000 I
NET DEBT 1
$405,700 I
i POPULATION 1920 |
8,870 I
4 Price Par and Interest l
to yield 6% 1
;; (irrular nn reque?t I
tawrence Chamberlain St Co
1 Incorporated
On* Ftftaan Broadway 9
New York City |
Corn Exchange Bank
Bankers' Trust Co.
Quaranty Trust Co.
McCLURE,JONES&REED
V*w YnrK tftnr-k r?rr,Innp' I
ISA Froaifmv I'linnr UZI Rector
"
ii
FINANCIAL NEWS [
AND COMMENT
Stocks Erratically Fluctuate
and Early Show Highly
Jrregiilar Tendency.
Th< action of yesterday's markets
<howed once more how difficult It Is
:o apply general explanations to price
novements from one business session
:o the next. Stocks fluctuated mainly :
ilong lines similar to those of Monday,
l highly Irregular tendency developing
arly In the day with both strong and
veak spots, but grain quotations suf'acai!
a trrn'i tnr lr? nvfnnf than
ho preceding session's substantial ad ance
and cotton dipped downward unler
what looked like a flow of reallzng
sales. In the foreign exchanges
he situation was much the same as
n stocks, sterling receding 2% cents In
ho forenoon under a fairly heavy volime
of offerings, with a slxeable recov- !
ry later, while several continental rates
vere Arm and the rato on Argentina
ontlnued to pursue the upward course :
i-hlch began a fortnight ago. It seems i
irobable now that what has been helpng
the Argentine rate all along Is the
hipment of Indian gold to New York :
iy way of London In what is prac- |
Ically a four cornered transaction for!
ho liquidation of a British credit fall- j
rig due at Buenos Aires at the end of
he year. Sliver declined to the lowst
price since March 19, 1918, the quoation
being 42% pence an ounce at
..ondon and that reaction had a natural
esult In declines of 2 to 7 cents a unit 3
n Chinese exchanges.
In considering all of the markets
tress must be laid on the speculative
iperatlons which have been In evidence
ill along. L.ast week, when the for
ign exchanges were heading upward,
t appeared as though the easing tenlency
of money rates had much to do
vlth the recovery. But money quotaIons
ar'e not much firmer and yet the
?xchanges have become uncertain In
heir movements, and the chances are
that active traders have been busy
teeklng to guess the turns in market
(wings. The same application may be
nade to grain and cotton and yesterlay's
stock market developed plain
;races of professional attention to certain
industrial and railroad issues. A
iae of more than 9 points in Texas
Pacific Coal and OH shares suggested
tasty purchases because of news that
the company's assets In Government
;stimatlon were carried on the books
it a figure some $87,000,000 lower than
the management bad fixed upon. At
i time when the Treasury Is naturally
inxlous to conserve all sources of taxition
It might seem like a curious event
to see the Federal experts mark up the
imount upon which a corporation can
calculate tax reduction. But the in ome
tax law provides for adequate appraisal
of corporate property and the
*tep indicates the application of the
statute in a fashion not discomforting
to the financial community. At the time
that that stock and a few other prominent
issues, including Lehigh Valley,
Reading and Mexican Petroleum, were
advancing bearish pressure was persistent
among certain automobile, mining
and manufacturing shares, with the
r>et result of a highly ragged list of
prices at the end of the day.
Call money remained unchanged at
1 per cent, and more than enough was
>m?reci to meet tnc demand. rue course i
)f both call and fixed period funds has j
>een made somewhat obscure by the I
*oming mid-month demand, and in that
onnectlon attention needs be directed
:o the pending offering of $300,000,000
>f Treasury certificates which in tho
naln will take the place of paper maluring
on December 15. The Interest
ates of 6 and f>% per cent, for one
rear and six months' Issues, respectively,
ire what would be expected on such
substantial borrowing at this season.
FOREIGN EXCHANGE.
l
TTTEHDAY, DEC. 7.
GREAT BRITAIN.
Tester- Mon4.80S
Parity, sterling. day. day. Nu\ . HO. i
Demand $3.4414 $3.45 $.'l.48't
Cablea 0.45 3.4."** 3.40 !
Hankers, 00 days 3.40\ 3.41*4 3.44% |
Hankers. 90 days 3.3814 3.3914 3.42% I
THE CONTINENT.
19.30 France, cents a francDemand
5.38 5.91 6.0814 1
Cabins 5.80 11.82 0.07*4 1
19.30 Belgium, cents a francDemand
0.23 0.28 0 41
Cablea 0.24 0.29 0.42 |
19.30 .Switzerland, cents a franc?
Demand 18.52 15.37 15.07 !
Cables 10.58 15.00 15.70 1
19.30 Univ. cents a liraDemand
3.52 3.51 3.00
Cables 3.53 3.52 3.07 i
23.80 Germany, centa a mark?
D. mand 1.81 1.20 1.42*4 1
Cable 1.32 1.27 1.43*4'
26.90 Sweden, centa a krone?
[ emand 19.20 19.85 19.40
Cables 19.25 19.40 19.45
26.80 Norway, centa a krone?
Demand 14.20 14.15 13.00
Cables 14.25 14.20 13.05
20.80 Denmark, cents a kroneDemand
14.20 14.20 13.00
Cable 14.25 14.25 13.05
19.30 Greece, cents a drachma?
Demand 8.05 8.20 8.45
Cables 8 10 8.25 8.50
19.30 Spain, cents a peseta?
T "emand 12 80 12.91 13.11
fable 12.95 13.15
40.20 Holland, cents a florlaDemand
30 40 30.40 30.45
Cables 80.50 30.45 30.50
51.40 H.ussla. cents a ruble?
100 rubles 00 .75 .75
500 rubles 50 .05 .65 _
20.30 Austria, cents a crown? *
D-rnand 30*4 .30 .31
' ables 31 .3014 .31*4
s0 Poland, ernta a mark? ,
r>?mand is .22 10
r*abJ.a IP 2S '.'JO
.1 Hungary, nnnta a crown?
I'omand 10 .10 .21
r.ahlra 20 .20 .22
J'igo flla\ la, nanta a crown I'Tnand
73 .7,1 70
""*M?a 74 .76 .90
2.7 0.1 Finland, canta a markremand
2 00 2.00 2.06
r'aM?a 2.0" 2.06 2.10 ?
20 21 . r. Slovakia, cnnta a crown? A
1 "rnand I 1.1 j.u t.31
.? 1.14 1.22
19 30 Kornanta, rcnta a leufa
mand I in 1.34 1.40
Cablea 1 .10 I 36 1.30
FAR K/VOT. ....
10k 12 Shanghai, rcnta a tarl- <
"'man.1 7r. OO 02.00 07.00 <
....76.76 02 76 07.76 J
.6.00 Hongkong, rente a dollar?
"rmund 60.00 00.00 06.00 !
.. .? T;"1'"?" r,n m'"? 06.60
to tin llnmbav, rente a nipee?
pemand 20.00 27.<W 23.S/? ,
76 60 27.60 20.75
10.84 V.iknhama, rente a yon?
I " "in nd -.0 3714 50.1714 60 371;. !
Cables .30.0214 50.0214 60 0214 '
THE
NEW
Day'a sales
/?Cloalng.-^IDlv.l
Bid. I Ajk. [In >.1 Balei.
50^4 ' 51 Vi' i 300 Advance
32 32 % 4 700 AJax Rut
1 % 1 % .. 800 Alaska G
1% 1 % .. 300 Alaska Ji
51 * 52 .. 2300 Allied Chi
88% 89 7 110 Allied Ch
SO* 31% 4 1100 Allls Cha
74 75 7 100 Allls Cha)
53% 53% 8 2600 Am Agrh
80% 81% 6 200 Am Agrlc
53% 53% 8 100 Am Beet
66% 66% 10 100 Am Bose
25% 26 .. 1300 Am Can
79% 81 7 1500 Am Can
125% 126 12 600 Am Car i
108 114 7 100 Am Car 8
18% 18% .. 6700 Am Cotto
7% 7% 80c 13001 Am Drug
8% 8% .. 400'Am Hide
47% 48% 7 800'A-.i Hide
41% 42 4 100'Am Ico .
40% 40% .. 6800iAm Inter
60 60%I 3 800 Am Lins<
86 88 7 100 Am LInse
84% 85 6 1100 Am Loeor
9% 9% .. 1100 Am Safet
9% 10 .. 4200 Ai.i Ship
45% 45% 4 1100 Am Smelt
85% 86 7 200 Am Smelt
33% 33% 3 1300 Am Steel
92% 92% 7 1600 Am Suga:
101% 102 ! 7 300 Am Sugai
71% 72 | 10 1200 Am Suma
98% 99% 8 2100 Am Tel &
116 116% I 12 900 Am Tobai
113% 113%! 12 400 Am Toba<
89% 89%! 6 200 Am Tobai
71% 72 I 71 8800 Am Wool
93% 93%I 7 100 Am Wool
36% 37 .. 200 A . Writi
7% 7% .. 600 Am Zinc,
38&J 3Q1/. A! iiOitn A??
i ^ i i mia^uiiua
2% 3% I .. 200 Assets Re
21 22 41 100 Associated
63 56 6 100 Asso Dry
97 100 6 100 Associated
83 % 84 6 2000 Atch, Top
77 78% 5 1200 Atch, Top
6% 6% 300 Atlanta, 1
87 88 7 400 Atlantic <
10 10% .. 600 Atlantic 1
18% 19% 3 200 Atlfus Tac
112 112% 10! 8600 At, Gulf i
57 60 5) 500 At, Gulf A
12% 13% .. 100|Austin Ni
94% 95% 7| 9400jBaldwin I
36% 3674 ..I 4200 Baltimore
40 2% lOOiBarnsdall
118% 120 .. 800iBarrett C
102 103% .. 100 Barrett C
2% 3 .. 400lBethlehen
90 95 7 800|Beth;ehen
64% 55 5 4500[Bethlel?n
3% 4 .. 700 Booth Fi!
10 10% .. 1100 Brooklyn
6% 7 . 400 Brooklyn
85% 86 10 400 Burns Br
10% 11 .. 100 Butterick
5 5% .. 200 Butte Co]
10% 11 .. 300 Butte & I
15% 16 ..i 300 Caddo Ce
63% 64 6 500 California
22% 24 .. 6300 California
40 .. 3 200 Canada S
116% 115% 10 1200 Canadian
7 7% .. 200 Case, J I,
83 85 7 100 Case, J I,
38% 39 .. 2500 Central L
90 92 7 200 Central L
26% 27% 4 3300 Oerro de
76 76% 10 2600 Chandler
62% 63 ! 4 200 Chesupeai
? m i .. xuu unicago i
7% 8 .. 3200!Chicago C
19% 19% .. 2800[Chicago C
30% 31 .. 4500|Chlcaso. :
49% 50 .. 2700|Chi. Mil <
74 74% 5 700 Chicago <S
107 111 7 lOolChl & Noi
69% | 70 8 400lChicago 1
29% 30 .. 2000|Chicago,
66 67 6 500 Chi. R 1 i
77 77% 7 200|Chi, R I i
65 70 5 100|Chi, St P
90 94 7 200 Chi, St P,
8% 8% .. 7700|Chile Cop
18% 18% .. 4400 Chino Coi
65 70 6t 100 Cleve, C,
22 22% .. 3500 Coca-Cola
28%' 29% ..I lOOlColorado
56% | 57 51 1000 [Columbia
12% 12% l| 3800!Columbia
38 40 41 lOOlComp Tal
79 80% 7 800lConsolida
7% 7% 2 400jCon Inter
19% 20 3 1000 Copsolida
62% 63 7 1000 Continent
5% 5% 1 200lContinent
67 | 69 5' 200|Contlnent
72% I 72%) 4 16400 Corn Pro<
99 |l00%i 7 lOOiCorn Pro
31 33 2% 700iCosden &
92% i 92%' 8! 8700 Crucible !
85% 86 j 7| 100 Crucible S
30% j 31% I 1 600!Cuban Ar
23 ! 24 ..j 5300jCuba Can
67 %j 68% 7 10001 Cuba Can
30 I 32 lj 5001 Davidson
%| 1 .. 500!Denver &
1 I 1% .. 2000[Denver &
11 ! 11% 1 400[Dome Mil
4 | 4%. ..! lOOIDuluth, S
14 I 14% ..! 600;Brie
20%' 21%' ..! 200( Erie 1st j
14Ul 15 I . . lOOiErie 2d u
53% 54 8 700|Famous V
.. 7; 100 Federal >
88% 95 i 10| 100!Fisher Br
11% 11%' 31 6400jFlak Rubl
16 16%| ..! 900'Freeport
3 3%: ..I 1300 Gaston,
34 135 I .. 300|Gen Chenr
.. . . : . .; 53 *Oen Chei
,30 1130V* I 8l 4300 General H
I .. I .. I 7000 General K
15% 15%I l! 14500 General \
64% 65% 6' 200 General \
73 74 7 300 G Mot Col
42% 42% I 6 800 Goodrich
.. I .. I 7' loo Goodrich
19%| 20 ..I 300 (Iranby C
78% 79% 7 1600 Great No!
29 29% 4' 700'Great Nor
20% 22 21 600j Greene Cj
15% 16 21 300 Gunntaaai
24 25% .. 200 Gulf, Mob
16% 17 300 Hendee M
58 .. 4' 100 Hocking '
57 58 4' 200 Haskell &
52 j 53 I ..) 200 Homeatnk
10%! 10% ( 1 2901 Hupp Mot
19 t 21 3 100 Hydraulic
86 87 i 1300Houston C
87% | 88 I 71 100 Illinois C<
6% 7% 60c 400 Indiahomr
32% 32% 4 2400 Inspiratioi
4 4% 2300 Interboro
10 ! 10%' .. 2900 Interboro
11%! 12 ..! 800 Int Art! <
46 49 1 5i 700j Int Agri t
97%! 98%| 71 925 Int Hnrve
14% | 14%| ..! 1000 Int Mer 1
52%| r,3V4| 6! 2800,Int Mer .\
29% i 30% I ,.i fiOO Int Motor
14% | 14%| ) 3400]Intornatlo
82 | 85 f 6| 200|Internntloi
50 50%) ..J 2400'tntornatlo
24 24% ..I 1700 Invincible
32 33 I ..) 100'Iron Prod
5% 5%; .. 3400 Island Oil
20% 20% .. 1300 Kansas CI
46 47 I 4l 300 Kansas CI
SOT TH AMERICA.
32.44 ttlo d* Janeiro, cent* a mllrel
Demand 11.124 10.25
Cable* 1(1.2:. 10.3714
42.45 llueno* Aire*, cent* a peso?
Demand 35.50 35.374
Ccble* 85.(1214 36.50
103.42 Uruguay, cent* a dollar?
Demand 70.3714 10.124
Cable* 70.02 4 70.374
CANADIAN EXCHANGE.
New Tork fund* In Montreal, $157.
alum per $1,000; Montreal fund* I
rork, $130 07 per $1,000.
SUBSCRIPTION RIGHTS
Right* Yesterday
Expire. llld. A*
3on*ol Textile Dee, 7
Jorn Kxeli Dank...Feb. 3 42 45
"tetrolt Edison Jan. 10 1
leneral Asphalt... Dec. 15 dt 1
leneral Electric.. .Jan. 20 4 4 4
loldwyn Picture*. .Jan. 15
Home Insurance.... 172 174
[,*nder?, F ft C. ...Pea, 20 3U .1
.TV W, t?t? jfj
Bo New Knit Tel...Jan. 25
Southern Pacific.. .Mar. I 22;? 2.3
Tidewater Oil Jan. 10 1$ ]$
United Zlno 8melt. .Jan. 10
NEW YORK HERALD, WE
YORK STOCK EX<
TUESDAY. DEC
1920. 1919. 1918.
722,031 970,978 628,600
|Open- |HI?:h- Low- Clo?- MM
I lng. | e?t. eat. In#. Chang*.
Kumely pi 50% 50% 60% 50% + %
>ber 32% 32% 32 82
old M 1% 1% 1% 1% + %
ineau G M 1% 1% 1% 1% ..
em & Dye w 1.. 61% 61% 61% 51% ? %
& Dye pf w 1.. 88% 88% 88% 88% ? %
liners Mfg 31% 31% 81 81 + % :
Imers Mfg pf... 73% 73% 73% 73% ?1% :
: Chem 62% 66% 62% 63% ? 2%
Chem pf 81 81 81 81 + %
Sugar 63% 53% 63% 63%
h Magneto 67 67 67 67 ? %
25% 26% 25% 26% ? %
pf 80% 80% 79% 79% ? 1
t Foundry 125% 125% 125% 125% ? 1%
k Foundry pf... 110% 110% 110% 110% -f 1%
n OH 17% 19% 17% 18% + %
gist Syndicate.. 7% 7% 7% 7% + %
& Leather 8% 8% 8% 8% ? %
& Leather pf.. 48% 48% 48 48 ? % 1
41% 41% 41% 41%
national Corp.. 40%^ 40% 39% 40% ? %
sed Co 61 %] 61% 60 60 + %
ed Co pf 86 86 86 86
notlve 84% 85% 84% 84% -f- %
y Razor 9% 9% 9% 9% + %
& Commerce... 9% 10 9% 10 + %
; & Ref 45% 46% 45% 46
t & Ref pf 86% 86% 86 86 ? 1%
Foundries 33% 33% 33% 83% ? %
r Ref .' 93 93% 91% 92% ?1%
Ref pf 102 102 101% 101% ? % 1
itra Tob 74% 74% 71% 71% ? 2%
: Tel 98% 99% 98% 99 + %
^co 117% 117%, 116% 116% ?1% ,
:co B 114 114 113% 113% ? % J
:co pf new 90% 90% 89% 89% ? % J
en 72% 73% 71 71% ? 1%
en pf 93% 93% 93% 93% -f %
ng Paper pf... 36,% 36% 36% 86% ? 1%
L & Smelt 7 7% 7 7
Copper 38% 39% 38% 39% + % ]
anzauon zft z ft z% z% ? %
1 Dry Goods... 21% 21% 21% 21% ? %
Goods 1st pf... 54% 64% 64% 64% + %
I Oil Co 94 94 94 94 ? 8
& Santa Fe... 83 83% 82% 83
& Santa Fo pf. 76% 76% 76% 76% ? %
Sirm & At! 6% 6% 6% 6% ? %
"oast Lino 87% 87% 87% 87% + %
?>utt 10% 10% 10% 10% ? %
It Corp 19% 19% 19% 19%
I W I S S 109 114 109 112% -f 2%
k W I S S pf... 60 60 60 60
chols 13 13 13 13
locomotive Wks 95 95% 93% 94% 1%
& Ohio ! 36% 37 1 36 36% + % 1
Corp A 1 36 36 j 36 36 -j- 1
t Chem ctfs.... 118% 119 j 118% 119 ? 1
0 pf Chem ctfs.|102%|102% 102% 102% + %
j Motors 3 3 2% 2% ? %
1 Steel 7 p c pf. 90% 90% 90% 90% -f- %
l Steel B 54% 55% 54% 64% ? %
=herles ...? 3% 3% 3% 3% ? %
Rapid Transit. 10% 10% 10% 10%
Ft T ctfs of dep 6% 6% 6% 6% + %
os 86% 86% 85% 86% ?1%
Co 10% 10% 10% 10% ? %
sper & Zinc 5 5% 5 5%
Superior Cop... 11 11 11 li
nt O A R IF,.14 1S1Z. ir.44 1K.T4 _L IA
Pack Co 63%! 64% 63% 64 ? %
Petrol 22% 24% 22 23% + 1%
outhern 40 40 40 40 ? 2
Pacific 115% 116% 115 115% + %
Plow Works... 7% 7% 7% 7% + %
Thres M pf... 84 84 84 84 ..
-eather 39% 39% 38% 38% ? % 1
gather pf 90 91 90 91 + 1%
Pasco Cop 29% 29% 25% 27 ? 2%
Motors 76% 78 \ 76 I 76% ? %
te & Ohio 62% 62% I 62% I 62% + %
? Alton 8% 8% 8% 8% ? %
it Western 8% 8%| 7%| 8 ? %
it Western pf.. 20% 20% 19 ! 19 ? 1%
Mil & St Paul.. 30 30% 30 i 30% + %
& St Paul 50 50 49% 49% ? %
1 Northwestern. 74 74% 74 74% ? %
rthwestern pf... 109% 109% 109% 109% ? %
'neuniatic Tool.I 68 69% 67 69% + 1%
R I & Pacific..! 29% 30 29% 29% ? %
i Pac 6 p c pf.. 66% 66% 66 66 ? %
& Pac 7 p c pf.. 77% 77% 77 77 ? 1
, M & 0 69 69 69 69 ? %
M & O pf 93 93 1 93 93 +4
>per ! 8% 8% 8% 8% ? %
[>per 18% 18% j 18% 18% ? %
C & St Louis pfi 66 66 66 66 ? %
t | 21% 22 | 21 1 22 %
& Southern j 28% I 28% 28% 28% ? % :
0 & Elec | 57% | 57% [ 56% 56% ? 1%
Graphophone .1 13 ! 13%] 12% 12% ? %
b Record ! 39% I 39%! 39% 89% ? %
ted Gas 80% 80%) 79% 79% ? %
state Cal Min... 7% 7% 7% 7% + %
ted Textile 20 20 19% 19% ? % :
al Can 63 63 ' 62%! 63 + %
al Candy 5% 5% 5%l 5% ? %
al Insurance .. 67 | 67 I 66% I 66% ? %
lucts Ref 72 73 I 70 71%' ? % <
ducts Ref pf... 100 |100 1100 100
Co 31%l 32 1 31% 31%
Steel Co 94 94%! 91% 92% ? 1%
Steel Co pf 85 85 85 85
n Sugar 30% 31% 30% 30% ? 1%
ic Sugar I 24 I 24%] 22%! 22% ? 1%
ie Sugar pf 68%: 68%! 67% 67% ? %
Chemical 30% 30% I 30%' 30% ? %
Rio Grande.... 1 I 1 | 1 ) 1
Rio Grande pf. %| 1%i % 1 + %
nes 11% I 11% 11 | 11 ? %
S & Atl 4 v 4 ; 4 ) 4 ? %
14 I 14% 14 14 + %
Jf I 20% 21% 20% 20% ? % 1
f j 14% 14% 14% 14% ? %
'layerr-Lasky .. 53% 54 53% 53% + %
iir. & Smelt pf. I 28 ; 28 ! 28 28
?dy Corp 88% I 88%' 88%: 88% ? %
ber 11% 12%! 11%' 11% ? %
Texas .1 16 1 16%! 15% | 16
; & Wigmore. ..| 3%' 3%! 3 3% ? %
1 Co Chem ctfs.1134% 134%'l34% 134% .. 1
n Co Chem ctfs]l31% 131 % 131% 1131 %
Ilectrir. Co 1129 130%jl29 130% + 1%
llectric Co rts- i 4 4%' 37s 4%' + 1% 1
iciors j lo-Tui -t- K i
[otor Corp deb.: 65%1 65% 65 65 , ? % 1
rp dob pf 7 p c. 73% 73%' 73% 73% ? %
(B F) 42% | 42% 41%' 42 + %
(B F) pf 78%! 78% 78% 78% ? 1
onsol M A 3... 19%: 19%, 19% 19%' ? %
rthern pf 78% 79 78 78% I ..
thern Ore ctfs.j 29%, 29%, 29 29 ? %
inanea Cop.... 20%) 20% 20%| 20% + %
mo SiiKnr j 15% 16 15% 16 + % 1
lie & North pf. 24% 24%, 24% 24%! ? %
anufacturlng 1694 169*; 16V4 ? H
Galley 58 58 58 58 ? 2 1
Barker Car... 5^*4 67 V4 i 57 Hj 67 V4 ? %
e Mining ,53 '53 53 I 53
tor 10% f 10% 10%' 10%
Steel 19 i 19 ,19 19
>11 Co 86 ! 87 ' 84% 86% + %
?ntral I 88 | 88 ! 38 88 +1
l Ref 7 17 6% 7 + %
n Con Copper.. 32% I 32% 32%, 32% ? %
Con Corp 4% 4% 4 4 ? %
Con Corp pf. . 10% 10% i 10 10 ? %
?orp 13% 13%' 12 ! 12 ? 2
Corp pf 52% I 52%) 49% 49% ? 3
eter Co new... 97 98 97 t 97% + %
Murine 14% 14%! 14%| 14% ? %
larine pf 53 | 53% I 52%! 53% + %
True1* 30%I 30%' 29%! 29% ? %
nal Nickel .... 14 I 14%| 14 | 14%
nnl Nickel pf. . 82%( 82%| 82% I 82%f ? %
nal Paper .... 50 I 52 J 49% 50 + %
OH 24% 24% *23% 24 ? % 1
ucts Corp 34 34 I 34 34 + %
& Trans Corp. 6%| 5%) 6% 5% ..
ty Southern.. 20% i 20% 1.20% 20%
ty Southern pf 46 | 46 | 46 46 + % >
MONEY MARKET. 5
In? "
tfl.S7%
17.00 TUESDAY, DEC. 7.
CA1.I. LOANS. C
.14 62% Renewals 7!La*t 7 ?
High 7jY.ar.hlgh 25 1
,76 37% Low 7IY.ar .low S
|7fl.62% TIME LOANS.
Mixed collateral, 60 to 00 days... !*?!? i
ill pre- Mllril iniiairmi, ? n> u i v*
n New Industrials, 00 to BO days 7HG7H
Industrial, 4 to fl months ...
COMMERCIAL PAPER. (
>, Brat names, .1 to A months 8
Other names, ,1 to 0 months 8t& <
M?_ DISCOUNT RATES, FEDERAL RESERVE
day's DANK. <
k. Bid. Commercial paper, 15 days, 7: IA to BO
'J days. A. Liberty bonds and Victory notes.
42 15 days, fl; Ifl to BO days, fl. Bankers' ac- .
eeptances, 15 to BO days, fl. I
j* OPEN MARKET RATES.
Prime eligible acceptances, on call, fl: re- J
172 discountable at Reserve Bank, 00 to 00 days, '
W JA non-members and private bankers,
1 f eftKfnb". 1*7 to 8* days. AHVtflfc: ao?~e<*eikic.
'4 1 AO to 00 days. R?7<4. J
'* V4S I CLEARING HOUSE STATEMENT. j
% Clearlne House eacliantcs, (785,354,418; I
dnesday, december t
:hangequota
EMBER 7, 1920.
19
Year to date.. 202.67
<?Clotlna.??|Dlv.| j
Bid. | Alk. In |.| Bales. |
40% 41 4 1800 Kelly 8prlngfleld Tlr
18% 18% 2j 4500 Kennecott Copper ..
7% 7% 1.20 1700|Keystone Tire & Rul
64 66 6 1800iLackawanna Steel C
18% 19 2 100 Lee Rubber A Tire..
62 62% 3% 4500'Lehigh Valley
188 144 12 6001 Liggett & Myers Tob
137% 144 12 160 Liggett A Myers Tob
17% 17% 2 1100;Loews Inc
9% 10 .. 400 j Loft Inc
134 186 12 400;Lorillard (P) Tobacc
100% 101% 7 2001 Louisville A Naahvlll
68 62 6 300 Mackay Cos
67 68 4 100 Mackay Cos pf
18 14 .. 100 Mallison & Co H R.,
1% 100 Manhattan Shirt ...
18 J4 2 300 Martin-Parry Corp
2% 2% .. 100 Maxwell Motor
78 74% 8 800 Mays Dept Stores...
178% 174% 12 87900 Mexican Petroleum .
16% 16% 2 900jMiaml Copper
13% 13% 1.60 14100'Middle States Oil
81% 32 4 6800 Mldvalo Steel A Ord.
12 12% .. 600 Minn & St L new...
3% 3% .. 1300 Missouri, Kan A Tex
19% 20 .. 4700 Missouri Pacific ....
41% 42% .. 2200 Missouri Pacific pf..
61% 68 | 3 200 Montana Power
85 96 7 100 Montana Power pf...
16% 17 .. 2000 Mont. Ward & Co...
24 24% 4 200 Mullins Body
106 108 7 100|Nash. Chat A St Loul
29 29% 3% 200 j National Acme Co...
62% 53" .. 1700|Nat Aniline ft Chem
7 300 Nat Analine A Ch pf
104 106 7 200 National Biscuit Co.
107 109 7 300 National Biscuit Co I
26% 27% .. 100 National Cloak & Sul
68 70 7 100 National Cloak A Sul
3% 3% .. 800 National Conduit A G
50% 61 6 900 National Enam A Sta
102 103 7 1001 National Lead Co pf
6 6% .. lOOiNat R R ol Mex 2d r
8% 8% .. 3800 Nevada Con Copper..
62 63 6 100 New Orleans, Tex & 1
73% 78% 5 2400 New York Central...
20 23 2% 700 New York Dock
19% 19% .. 10300 New York, N H A Hi
18 18% 1 800 New York, Ont & We
98% 99% 7 900 Norfolk A Western.
62% 63 5 400 North American Co.
83% 84 7 2200 Northern Pacific ...
37 37% 6 400 Nova Scotia S & C-.
3% 3% 40c 5100 Oklahoma Prod & Re
4% 4%{ .. 200 Ontario Silver Minlni
26% 27 2 400 Orphcum Circuit ...
.26 128 : 8 lOOlOtis Elevator
15 15% .. 700 Otts Steel
18 18% .. 700 Pacific Development
47% 48 5 200 Pacific Gas A Electrl
2200 Pacific Oil w 1
83 63% 6 14800 Pan Am Petrol A T..
76 77 6 1600 Pan Am Petrol A T 1
40% 40% 3 6000 Pennsylvania R R...
9% 10 .. 100 Penn Seaboard Steel
86 86% lOOOlPeoplcs Gas, Chicago
18% 19 .. 1600 Pcre Marquette ....
35 36 3 500 Philadelphia Co ....
81% 32% .. 1900 Phillips Petroleum .
22% 23 .. 2400 Pierce Arrow Motor.
75% 78% 8 200'Pierce Arrow Motor 1
12 12% .. 500 Pierce Oil Coyi
81 81% 8 100!Pierce Oil Corp pf..
84 86 7 200|PIttsburg Steel pf...
31% 32 .. 1300'Pittsburg & West Va
13 13% 1 100!Pond Creek Coal...,
83 86 8 500'Pressod Steel Car...
103 103% 8 600lPullman Co
52 53 8 800'Punta Allegre Sugar
33% 33% 4 2300lPure Oil
85 87 8 200lRnilway Stefel Spring
11% 12 1 4000|Ray Consol Copper..
88% 88% 4 17800! Reading
56% 56% 2 1800'Reading 1st pf
57% 58 2 HOOlReadlng 2d pf
34% 35 .. 300|Remington Typewrit
70% 72 .. 1600|Replogle Steel
23 23% .. 1700iRepublic Motor True
67 67% 6 2200!Republic Iron & Ste<
65% 72 7 600[Robert Rels pf
65% 65% 5.20 11200 Royal Dutch Co N Y
23 23% .. 800 St Louis & San Fran
26% 27% .. 500 St Louis Southweste
38% 39 .. 100 St L Southwestern r
4 4% 1 100 Santa Cecilia Sugar.
16 16% .. 400 Savage Arms Corp..
3% 3% .. 1200 Saxon Motor
6% 6% .. 4900|8eaboard Air Line...
11% 11% .. 900|Seaboard Air Line pf
103 103% 8 1000 Sears Roebuck Co..
18% 18% .. 200iSeneca Copper
5% 6% .. 400'Shattuck Ariz Coppe
42% 43% 74c 1500|Shell Trans & Tradl
25% 25% .. lOOOOjSinclair Consof Oil..
53 64 6 1001Sloss-Sheffleld S & 1
101% 101% 6 34100iSouthern Pacific ...
19200'.Southern Pacific rts.
23% 23% .. 2500 Southern Railway ..
59 59% I 5 3001Southern Railway pi
P20 625 20 811 Standard Oil of N J.
103%|104 | 71 700iStandard Oil of N J ;
81 ! 83% 7 lOOisteel & Tube pf
40% i 41% 4 200'stromberg Carburetc
45%! 45% 7 8500iStudebaker Corp ...
83 ' 84 7 600'Studebaker Corp pf.
10 I 10% I .. 1600|Submarine Boat ....
19U.I-12U! 21 2200lSuperior Oil ex dlv..
42% 44% j C! 100'Superlor Steel Corp.
8% 8%i .. 1000Tenn Copper & Chen
50>4 50%I 3 18700'Texas Co
40% 40%I 1 41400'Texaa Pac Coal &<01
20% 21 .. 1700|Texas & Pacific
14% 15% .. 500 Third Avenue
190 205 ' 8 100 Tide Water Oil
.. j .. 600 Tide Water Oil rts..
10% 11 (2% 300|Tlmes Sq Auto Supp
53 63% 6 13001 Tobacco Products ...
82 86 I 7 200!Tobacco Products pf.
8% 9 | .. 56001Transcontinental Oil
40 41 I 51 300'Transue & Williams
22% 22% .. 27001Union Oil
118% 118% 10! 3500 Union Pacific
64 64%' 4 300,Unlor. Pacific pf....
32% 33% 41 300'United Alloy Steel..
100% 106 71 100lUnlte<l Cigar Stores
100 101 8 200lUnlted Drug Co
199 200 8! 3001 United Krult Compa
10 11 ..] 100|Unlted Ry Investmer
56% 57%l 3! SlOOlUnlted Retail Stores.
41 43% 5! 100]IT SCI Pipe & Fdy
24 24% 6| 8600IU S Food Prod Corp
66% 67% 8 7900IU S Ind Alcohol
42% 43 ..] 300iU S Realty & Imp..
68 69 8! 5400lU 8 Rubber
101% 103% 8 200jU S Rubber 1st pf. .
36% 38 6 3800|U S Smelting. R & M
81% 82 5 23700iU S Steel
106% 106% 7 900 U 8 Steel pf
51% 52% 6 3900 Utah Coppei
43 43% 6 2400,Vanadium Corp ....
37% 38 ! 4 400 Va-Carollna Chem .
97 97%' 8' 200 Va-Carollna Chem pi
8% 9% 1 2200|Vivaudou V
8 8*4 .. iou.wannsn
22% 22% 2600i Wabash pf A
15 16 .. 3t?o'Wabash pf B
11 11% .. 500'Western Maryland .
30% 31% 1600'Western Pacific ....
42% 42% 4 700! Wostlnghouso E & 3
10% 10% .. 200) Wheeling & Lake Er
37% 38 4 4100 Whlto Motor
17% 17% .. 1700'White OH
18% 22 4 100'Wickwire Spen Steei
5% 5% 1 29900'Willys Overland
30 30% 7 5900!Willys Overland pf..
41% 41% 5 200) Wilson A Co
34 36 .. 100Wisconsin Central ..
[07% 108% 8 2001 Wool worth, F W....
45 1 46 6! 200)Worthington Pump
Odd lots.
NOTE?Odd lot transactions are not re
verts made at pries outsid" of the regular f
alances. $67,340,448; Federal Reserve credit ; etf
alances, $80,454,119. Bt.
SILVER MARKETS. C'f
Official bar silver In New York, domestic,
>9Hc. an ounce. unchanged; foreign
I5%e., off, 2%c.; London, 4.1d., off, Vid.; To
dexlcan dollars, 50c., off, 2c. Gen
_________ Gen
Indl
DIVIDENDS. [??"
Stock of PayRccord.
alilo.
ttchlson, Toneka ft Santa Fo
Ry. Co., pf., a. a., $2.50. . .Dac. 31 Feb. 1
Canadian Woolens, Ltd., q., I 1
$1.25 Dec. 20 Jan. I .
Canadian Woolens, Ltd., pf,, , *?"
<J.. 11.78 Dec. 20 Jan. 1 froi
Continental Can, q., $1.75... Dec. 20 Jan. 1 I
Continental Can. pf., q.. |].?3Dec. 20 Jan. t , oio
Rl. Lt. ft P. Co. of Ahlngton I
ft Rockland, s. a., $4 Dec. 1.", Jan. 3
3eorge P. Ida, Inc., pf . <i.,$2.Dec. I,', Jan. I Th<
Hercules Powder, q.. 2"i Dec. 15 Dr. 24 $50
Hercules Powder, extra. 2%..Dec. 15 Dec. 24
Ingersoll-Rand pf.. a. a . $3..Dec. 17 Jan. 3
Kelly-Springfield Tire Co., 0% 1 res.
rPf- 2.7 $'-??---. Dec. 17 Jan. I the
booae Wiles 1st pf., q., $1.75. Pec. IN Jan 1 avr
Jfau. Shirt Co.. pf . q . }|.75 lire. 10 j,n. 3
(f. r. Ltfis Ins. ft Tr. Co., $15.Dee. 7 Dec. 10 '
Otis Steel, pf,, q? ff.VW. Uk. '-i Jan. 1 oat
St. Louis. Rocky Mt ft ! *- dm
I, 1920.
HONS.
20. 1919. 1918.
0.802% 296.703.8w3 135.068.532
|Open- |Hlgh- | Low- | Clo?|
trig. | e?t. I est. | lng. Chang*.
a... 40 40% I 39% 40% ? %
.... 18% 18% I 18% 18%
>ber. 8% 8% 7% 7% ? %
o... 66% 65% 64% 54% ? %
18% 18% 18% 18% 4- %
60 63 50 62 4- 2%
acco 140 140% 140 140%
B.. 138 138 138 138 4- %
.... 17% 17% 17% 17% ? %
.... 9% 9% 9% 9% ? %
o... 136 136 134 134% ? 1%
e... 100% 101 100% 101
58 58 57% 67% ? %
57% 57% 67%! 57% + %
13 ! 13 13 ! 13 -fl
16% I 16% 16% I 16% ? %
14 14 13%! 14
2% 2% 2%l 2%
73% 73% 78% 73% ? %
173 177% 170% 174 + 1%
15% 16 16% 16 + %
.... 13% 13% 13 13% ? %
81% 31% 31% 31%
.... 12% 12% 12% 12% ? %
.... 3% 3% 3% 3%
20% 21 20 20 ? %
41% 42% 41% 42 + %
.... 52% 52% 52 52 ? 1
95 95 96 95 ? 3%
.... 17% 17% 17 17 ? %
.... 23% 23% 23% 23% ? %
s... 106% 106% 106% 106% ? %
29% 29% 29% 29% ? %
ctfs 53 53 62% 53 + %
ctfs 89% 89% 89 89 + %
105 105 104% 104% ? %
f... 107% 107% 107 107
t... 27% 27% 27% 27% ? 1%
t pf 70 70 70 70 ? 1
_ m_i _ A ? O 9J 011
HUIC t *i 074 O /B
mp. 50% 51 50% 50% + %
102% 102% 102% 102%
>f... 5% 5% 5% 5%
....! 8% 8% 8% 8% ? %
tfex 62% 62% 62% 62% + 1
.... 74 74% 73% 73% ? %
.... 20% 21% 20% 20% ? %
art. 19% 20% 19% 19% + %
St.. 18% 18% 18 18 ? %
.... 99 99% 98% 98% + %
.... 52% 62% 52% 62% ? %
84 84% 83% 88% ? %
37 37 37 37 ? %
f... 3% 3% 3% 3% ? %
J... 4% 4% 4% 4%
.... 26% 26% 26% 26% + %
126% 126% 126% 126% ? 1%
15 15% 15 15% + %
18% 18% 18 18% ? %
c... 47% 47%, 47% 47% + %
38% 38% 37% 38% + %
.... 82% 83% 81% 83% + 1%
3... 76 77 76 77 + 1%
.... 40% 40% 40% 40%
.... 9% 9% 9%' 9%
35% 36 35 36 + %
...J 19% 19% 18% 19 ? %
.... 35% 85% 35% 35% ? %
32% 32% 31% 31% + %
23% 23% 22 22% ? %
pf... 78% 78% 77% 77% ? 4%
12% 12% 12 12 ? %
81* 81 81 81 ? %
84% 84% 84% 84% ? %
31% 31% 31 31% + %
13% 13% 13% 13% ? %
83% 83% 83 83 ? 1
103% 103% 1103% 103% ? %
62% 62% 52 62% ? %
337* 34 33% 34
86 86 86 86 4- %
11% 11% 11% 11% + %
87% 89% 87% 88% + 1%
55% 57% 65% 67% + 2%
.... 58 68% 57% 67% + 1%
er .! 35 35 34% 34% ? %
70% 71 70 70% ? %
k... 25% 25% 23 23 ? 2%
il... 67 67% 66% 67% + %
66 V. 66% 66% 66%
.... 65 66 63% 65% ? %
23 23 ' 23 23 ? %
rn.. 26% 27 26 27 + %
>f... 40 40 40 40 +1
4% 4% 4% 4%
16% 16% 16V* 16% ? %
3% 3% 3 3%
.... 6% 6% 6 6% ? %
'.... 11% H% 11 11V<? ? *
103% 103% 102% 103% + %
18% 18% 18% 18% -I- %
r.... 5% 5% 5% 5%
ng.. 42% 42% 41% 42% + %
25% 26 25% 25% ? %
; 53% 53% 53% 53% ? %
102% 103% 101% 101% ? %
22% 23 22% 23 + %
23% 23% 23% 23% ? %
'.... 59% 59% 59% 59%
623 625 623 624 ? 1
pf... 104% 104% 103% 103% ? %
81 81 81 81 ? 1
,r .. 42% 42% 40% 40% ? 3
45% 46 44% 45%
84 84 84 84
10% 10% 10 10% + %
13% 13% 11% 12% ? 1%
43Ti I 43% 43% 43% ? 1%
1.... 8% 8% 8% 8%
49% 50% 49% 50% + %
1.... 31% 40% 31% 40% + 9%
20 21% 20 20% -f 1
.... 15 15 14% 14% ? %
199 199 199 199 + 3
.... 14% 14% 14% 14% ? 1%
ly... 11 11 10% 10% ? %
53% 63% 53% 63% ? %
84 84 83 83 + 1
q q K4 q q ? %
Sti. 40% 40% 40% 40% ? %
23 23% 22 22% ? 1%
118% 119 118 118% ? %
1 64% 64% 64% 64% + %
32% 32% 32% 32% ? %
pf... 101 101 1101 101
100 100 '100 100
ny.. 198 199% 198 199% + 2%
it... 10% 10%[ 10% 10% ? %
.... 57 57% 56% 56% ..
pf... 41% 41% 41% 41% ? %
24 25%' 23 24% ? %
67 67% 65% 67% + %
41% 42% 41% 42% + 1%
.... 68 68% 67% 68% + %
102 102 102 102 + %
[.... 40 40 37 37% ?2%
81% 82% 81% 81% ? %
106% 106% 106% 106% ? %
51% 52 51% t?l% + %
43% 43% 42% 43 ? %
37% 37% 37% 37%
t 97% 97% 97% 97% ? %
.... 9 9 8% 8% ? %
8% 8%' 8% 8% ? %
23% 23% 22% 22% ? %
15% 15%] 15% 15% ? %
11% 11% 11% 11% + %
....32 32 1 31 31 ? 1
1.... 42% 42%' 42% 42%
1e... 10 10 10 10
38 38%] 37% 38% ? %
17% 17% 17% 17%
I 20 20 20 20
7 7% 6%] 5% ? 1%
38% 39 26 30 ? 9%
41% 41% 41%] 41% ? %
36 36 36 1 36 ? 4
107% 107% 107%|107% ? 1
45% 45% 45%] 45% ? 2
corded in separate line unless sales
ull lot range.
'tr Co., q.. |t Dec. 20 Dec. 31
Ignite, Rocky Mt. & Pa'lc
Co.. q., ft.S5 Dec. 20 Dec. 31
EX DIVIDEND "TABLE.
i.dlV.
eral Electric $2 00
eral Elect rlo atk 2e4 j
an Refining 50c.
an Refining pf 11.75 I
in Carbide & Carbon $1.50
C?old From London.
'ho Finland brought $2,675,000 in
d, consigned to Kuhn, Loeb & Co.
m Rothschilds, London. Slnco the
vsrnent started about a year ago the
u arrivals Amount to $69,026,000.
?re is on the water $626,000 In gold,
0,000 on the Adriatic and $126,000
the Aqultanla. Those Imports repent
South African gold purchased In
open market In London. The weekly
rage of about $1,^00,000 maintained
the last twelve months. It Is sntleled,
will continue for oonsldorable
0.
TOPICS OF WAIL STREET.
Southern Pacific.
Ohe of the reasons for the heaviness in
Southern Pacific since the announcement
of its segregation plans. It Is reported,
has been the rumor that some
holders of the convertible 6s did not
take kindly to the project and proposed
an Injunction seeking to restrain officials
of the corporation from putting
the plan into effect. This has been
commission house gossip for several
days. An examination of the agreement
under which this and other issues
of the road were sold shows that the
bonds are not a lien on the corporation's
oil lands and that the assumption by
some of the bondholders that their
equity In Southern Pacific's property
will be disturbed by the segregation of
the property is Incorrect. According to
records of the corporation's issues its
oil lands are free and clear.
Sproule on Southern Pacific Plans.
Directors of the Southern Pacific Railway
are inclined to be very proud of
the plan they have fathered. William
Sproule, president of the company, declared
yesterday In a statement that the
operation of the plan would bo In the
nature of a distribution to stockholders.
"After the plan takes effect," he
said, "the Southern Pacific will cease to
be Interested In the oil business except
as a purcnaser ui on ior mm on 0110 >
hand and as a common carrier of oil on ; I
the other. In taking this action the
company is simply responsive to the
spirit of the times, and the plan puts !
the properties In the possession of the
stockholders as individuals, each being
given tho right to acquire a share in the
oil properties to tho same extent that
he has a share in tho railroad property."
Willys-Overland.
A feature of yesterday's market was
the violent break In stocks of the WillysOverland
Company, especially Its preferred,
which decllnod more than 13
points to a low of 26, recovering later
to 30 at which it closed with a net
lose of 9 Mi points. All day long traders
were selling Overland Issues as a result
of rumors that the preferred and the
common stock dividends would be
passed at the next meeting of the directors.
Another story in circulation was
that the common dividend would be
passed, but that the preferred dividend
would be paid in scrip, as was that of
the Willys Corporation recently.
Texas Pacific Coal and Oil.
Tho movement upward of more than
nine points in the common stock of the
Texas Pacific Coal and Oil Company,
which closed abovo 40 yesterday, reflected
the story published in The New
York Herald yesterday morning that
the Treasury Department had requested
the company to add some $87,000,000 to
its valuation of its oil leases. Although
It was realized that the equity of stockholders
in the company would not be
increased by a higher valuation, it was
pointed out that the excess profits taxes
which the company would be called on
to pay would In all likelihood be smaller
and Its net profits consequently Increased.
Many of Its stockholders realized
for the first time that their equities
were considerably larger than the company's
statements had led them to |
believe.
A Good Omen.
Another feature of the Texas Pacific
situation which came in for considerable
discussion In Wall street yesterday
was the fact that the Government
should ask tor a readjustment of the
company's property account which
might result in a rebate of taxes to the
amount of $1,000,000 as well as a lessening
of future taxes. This was taken
as an indication that the attitude of
the Government toward business generally
had been very much modified and
that in the future corporations might
look for somewhat better treatment than
had been accorded them in the matter
of taxes. Many stockholders were said
yesterday to have been incensed because
tho company waited until called on by
the Government to reveal the true worth
of its leases.
InterboronKh'a Debts.
A sharp decline in the first refunding
5 per cent, bonds of tho Interborough
Rapid Transit from 51 to 48% yesterday
brought out the report that the
corporation was experiencing difficulty
in raising funds to meet its January
1 interest payments. Members of the
board met but had no statement to
make. On January 1 the corporation
will meet an interest charge of $4,022,325
interest on Its first and refunding
bonds and $1,050,000 dividend on Manhattan
Railway Company capital stock.
When the last payment was made, in
mid-summer, officials of tho corporation
announced that they had used up i1
the last of its available cash surplus
and could not stave oft receivership
much longer unless granted an in
1 At tVint Hm. novum 1
pieces of property were sold to aid In |
meeting that payment.
Goodyear Financing.
Plans for financing the Goodyear
Tire and Rubber Company are still Incomplete
and It Is understood that banking
Interests not hitherto mentioned as
connected with the negotiations have
been called Into consultation. At'the
moment an auditors' report Is awaited
and there Is nothing definite to announce.
Roads Baying Eqnipment.
The predictions, made months ago
by equipment men, that railroad companies
would waste no opportunity In
rehabilitating their lines just as soon
as funds to pay for the purchases
should be available have come true and
In the plant of practically every equipment
producing company the wheels are
turning at rapacity. The American
Locomotive Company announced, yesterday
that it had received orders for
twenty-five Mikado type locomotives
from the Missouri Pacific: for one
prairie engine from the Hetchy Railroad
; for one switch engine from the
American Agricultural Chemical Company:
for one switch engine from the
West Penn Power Company, and for
two from tho Old Ben Coal Company.
The Northern Pacific and the Minneapolis
and St. Louis have ordered
1,000 freight cars each and the Cincinnati
and Indianapolis has ordered
500. It is reported that the Louisville
and Nashville has s schedule of
3,000 box cars for its own shops for
1921.
Cuban Loan Postponed.
There are. no many matters to be ;
cleared up that there will be no completion
of negotiations for a Cuban Gov- ;
ernment flotation before the early part
of January, tf then, according to h
banker who has attended recent confer- j
ences. There must be action by the j
Cuban Congress, and It Is possible that ,
the pressing need for the loan will have |
evaporated before conditions become sufficiently
ripe for the sale of such an
Issue. Reports are that a Cuban Gov- I
ernment loan would valorise sugar and I
I make the price of that commodity higher !
than actual conditions warranted. It Is
stated positively that no valorization
scheme is involved.
Bond nida.
Local bond distributers bid yesterday
In Winnipeg on an offering of $800,000
of ten year 6s of the city of Winnipeg
and they are preparing bids for the
$7,000,000 offering by the city of Philadelphia
on December 16. The attention
of bankers has been called to a pronosed
offering of $17,000,000 In bonds by j
i ths State of Now Jersey In February.j
?
I
Cochrane
Harper jj
& Co. |
111 Broadway 60 Stata St.
NEW YORK BOSTON
Invincible
Oil Corporation
Latest circular on request
. WEEKLY LETTER
GlTiag currant news and davalopmant or
INDEPENDENT
&
STANDARD OILS
Furnished upon request
LONG TERM BONDS
At High Yield
Due Der. 1. 1Q40?issuer! hv
Lj a company with 153,546 cus- fyl
tomers and a net income of
over two million dollars.
Brooklyn Edison
Company, Inc HI
General Mortgage Series D
7% Gold Bonds
Price 91% and Interest
To Yield 714%
Ask lor Folder H-30
HoIItster, 1
White & Co.
WCOMNMAfM
03 Cedar St.. Cor. Trinity PI.
NEW YORK
?? f
CHANGING economic
conditions
make necessary
a regular survey of
one's investments.
We are prepared to
offer suggestions regarding
your present
holdings or prospective
purchases.
Inquiries incited
Charles E. Brickley
=& Co. '
Members New York Stock Exchangs
61 Broadway - - New York
Telephone Bowling Green 8700
UPTOWN BRANCH
Delmonico's 5th Ave. and 44th St.
53 State Street Widener Bldf.
BOSTON PHILADELPHIA
Direct Private Wires
We Specialize In
Niagara Falls Power
6* due 1932.
Columbus Street Ry.
t
5s due 1932.
Electrical Dev. of Ontario
5s due 1933.
G. R. McAllister & Co.
74 Broadway, New York
Tel. Bowling Green 6200
. I
| Standard Oil
Stocks
^ Bought, Sold & Quoted
| C.C.Kerr& Co.
^ 2 Rector St.. N. Y. Phone 6780 Rector
J.K.Rice Jr.& Co. Will Sell
1(H) Alia* Port. Ommt Common
fIM) Cllnrliflold Cool Com.
1(1 (.rent Amorlrnn In..
.lOInl. Cl*nr Mnrhlnr
.10 lr\lnn National Itnnk
100 Int. Pur KxrHangr Pfd.
2.1 Innrr.oll llnml Common
J.1 l.rlileli > alloy Coal s?l?
100 N'bI. Irf A Coal Common
100 I'onnn. Cool A Coko
100 Kntlnml H. II. Prrfrrrrd
III Wlnrhoator Co. Common
J.K.Rice Jr. & Co.
Phono. 4000 to 1010 .Tohn. 30 Wall Ac. N T

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