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The New York herald. [volume] (New York, N.Y.) 1920-1924, March 07, 1921, Image 13

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INVESTORS
Our Stock and Bond
departments (Listed
and Unlisted) are
specializing in giving
information and find
ing markets on all
classes of securities.
h.fermatior upon request.
GEO.A.HUHN & SONS
< New York Stock Exchange
? . . ) Philadelphia fit. ok Kxcl.ui.se
Members * ChlcuKu Stock Exchanee
V New York Cotton Exchange
111 Broadway 1418 Walnut St.
New York Khiladelphia
standard
o
L .
ISSUKf
STANDARD
OIL
(INDIANA)
Circular on lequa!.
CARLH.PFORZHEIMER&CO
| Dealer* In Standard Oil Srcurltie*
85 Uroad St. t'honcs 4S60-1-2-3-4 Iirotfl
$50,000
CITY OF
Calgary, Alberta
5% Gold Bonds
Due June 15, 1935
These bonds are the direct
obligation of the largest
city in Alberta and one of
Canada's most important
commercial centers.
Principal and interest payable
in New York City
Price to Yield
7.25%
Further particular* upon request
jor Circular n-18.
Ground hknr, Singer Building
89 Liberty Street New York
J. K. Rice, Jr. & Co. Buy & Sell
Hank of New York Htock
Celluloid To. 'stork and "RlghfV'
< ro?ker-Wheeler Com.
( lorlnnatl Northern It. K.
E. W. Rll?-? C om.
'.real American las.
(irnrrnl H?kln( Com. ft Pfd.
Home Innqrui'
Indiana ( ike * (?? Com. ft FH.
N. Y. Mutual Ga? l.lrht
Nat. Ir? ft Cool Com. let ft !i Pfd.
I'jrene Munufactiirlnc
lima t/nr?. Com. ft Pfd.
*?n f hlrlet tn
\ Irglnlan R>, Com.
Victor Talking Muehfnn
J.K.Rice,Jr.&Co.
rhon?* 4000 tn 4'10 John. 84 Wall St.. S. T.
BANKING IJ0T7SB OT
HENRY CLEWS & CO.
Members N. T. Stock and Cotton Exchange*.
11. 13. 15. 17 and 19 Bread St.. N. Y.
Interest allowed on deposit accounts a ob
ject to cheqee. Stock*. Bonds and Sofa
JJouitht and Sold tor Caeh ar.d carried on
ron*?r*atlve term*. Cotton eontraets handled
FOREIGN IJ5TTERH OF CREDIT ISSUED.
B?" LIBERTY BONDS SIS
Rraneb ? 3*? Fifth A to, 34 Coloa hwi
Office* 517t Ouano Ht. 145 Eut Mtt ??.
t? Court -it., firoolrlya.
Howlanri H. Pall Kdwtrd T. Whlta
Pell & White
Members Now York Htock Ktrhance
43 Exchange PI. Ntw York
Phone Hannttr till.
High Grade
STOCKS and BONIS
( arretptrrulrnre Inti led
I
Our Folder 11-XI, entitled
The Principle* of Sound Investing
will be Bant free on request.
Qias.\vbsley&Ca
mt '
92 Cedtr Street New York
U. ?_J
American Thread
Babcock & Wilcox
Whitman & Barnes
FREDERIC H. HATCH & CO.
*,0?MyNV Tel Reelor?t?
IVlfff CWHtCTlONj
G06T0N. OitCMsA FH1LA.MONTREAL, PITTSBUtGM
?? ' - *
Guaranty Trust Co.
National City Bank
Bankers Trust Co.
McCLURE, JONES & REED
Mttnhtrt M$w York dM Rich u-im
11A Broadway Phone Mil Woctor
FINANCIAL NEWS
j AND COMMENT
Belief Is General That Indus
trial and*Trade Readjust
? nu'nt Will Be Long.
FOREIGN DEMAND NEEDED
Progress in Coping1 With In
flation's Results Shows in I
Many Ways.
i
By WILLIAM W. CI?AI?.
A twofold Impression Is acquired by
one who examines the financial situa
tion at this time; first, that the diffi
culties and problema entailed In the
German indemnity arc realized to a
greater extent by American business
men than they were at the end of 1820,
and, second, that the belief has made
firm lodgment everywhere that Indus
trial and trade readjustment must be
long drawn out. It la felt that whether j
or not the Germans accept the full de- j
mantis of the allied countries the
process of exacting payment will re
quire application of the greatest po
litical sagacity and far sighted bus!
ness management. As this Is written j
Indications point toward the final con- ^
sent of the Gorman de'.eff&tea In Lon- j
don to the reparations plan, with cer
tain reservations, perhaps. but to un
extent permitting a working agreement.
But such a development would be only
the beginning of the task of collection.
It would not determine the manner in
which Germany would pay; It would
only suggest principal and interest
without disclosing the true proportions
of the medll for payment?goods, ser
vices and sold. It would not show the
effect which a heavy outflow of Ger
man products would have on the mar
kets for the products of other nations,
including America. More Important
than this. It would not prove beyond
question of doubt that the German
people would assent to the additional
burden which would come upon thetn
through the action of their Govern
ment. In cffect a successful outcome
of the Ixindon conference will at the
best be only a step, although an im
portant one, toward the disposition of
the foremost business problem In the
world to-day.
Drmund From Abroad Needed.
It Is fortunate that our markets ap
preciate the difficulties of the repara
tion* situation. The alowr.es3 of pres
ent liquidation of goods and farm prod
ucts Is caused in great part by the lack
of an adequate demand from abroad.
It is threshing old straw to state that
If there was a market In other coun
tries for all of our surplus wheat, cot
ton, wool and manufactured materials
the banking situation would be decid
edly easy and the spring season could
be entered with ail confidence of pros
perity. It Is a question worth consid
ering whether our markets, now so
sluggish, are not considering the possi
bility of a restricted demand from
Europe for some years to come: a
change pivoted on the reparations
which will force the cultivation of mar
kets in South America and Asia with an
Intensity not known before. Is It not
possible that out of the reparations,
which must be Fettled largely In goods.
will come a closer unity .of trade be
tween European countries, especially If
Russia enters the field as an important
producing and trading nation?
Germany will need vast amounts of
raw material, to be turned Into prod
ucts against reparations payments. It
will be to the interest of all the nations
concerned In the reparations matter to
share In the sale of the raw material
and the completed goods.
Of course the American markets will
be counted In when European sales are
considered. We could hardly get along
without the products of England,
Prance, Germany and the others and
the International debt situation demands
that quantities of forelm products be
received. Nor Is there any reason to
believe otherwise than that Europe will
supply the liveliest sort of competition
for American producers la ail the world
markets. But with the problem over
war damages what tt 1* the chance#
certainly point tow art more sharply
drawn lines of commercl?J Intercourse
between the countries arrow the At
lantic. with the corroilary that America
will need to put her best foot foremost
to the east and the south.
Clearing IsiatUs Aftem??k,
The difficulties attending the do
mestic business return to rormaley
continue to be emphasised by reduced
or eliminated dividends, unsatisfactory
railroad earnings, slow reduction of In
ventories and stubborn maintenance of
high bank loans. That progress Is be
ing made In clearing away the after
math of inflation Is shown in many di
rections; but the time element Is all
important. The stock market has sug
gested for the last five or six weeks
that the public Is not Impressed with
immediate prospects of Industry and
transportation. Thoss who buy rfocks
for Investment or long term speculation
evidently want to see wages and prices
carried further from the boom peak.
And fhe movement cannot he completed
In a few months, perhaps not In a few
years, although readjustment thus far
has progressed to an extent to point
toward measurably better conditions be
fore the current year shall end.
President Harding In his Inaugural
address naturally touched only the
borders of the questions of Industry,
finance and trnde which are pressing
from all sides He may be expected to
let Congress know when It convenes
again something of his specific
thoughts upon business relations vifh
other countries, although he holds that
the nation "can enter no political com
mitments or assume any economic ob
'Isatlons or subject our decisions to any
other than our own authority- But
before the necessity arises for posslble
reconsideration of that position It Is
rertaln that he will be asked to make
rood his atttlude toward ^economy of
government and reduced taxation.
With real act'on in these r'speots fhe
ration's dom ftlc economic troubles!
will be solved more easily.
financial note.
I Arthur r. Keck, formerly with Pynehon
I*. Co has been appointed manager efths
1 forrtfi. bond dapartment of Paine. Webber
^Co. - j
TOTAL TRANSACTIONS IN THE NEW YORK STOCK EXCHANGE'
WEEK ENDED MARCH 5. 1921.
Sale* for week..
1921.
2.552.431
1920.
3,599,910
F.-ir.j? 1921 | Dir. Dlr.l
Hl?ll.| Low. |YtrlU.|ln ?.| tikltj.
35
High.' Low.| I,*st.
19%
52
39 %
i%
i%
55%
93 %
37%
81M*
65 %
84
54
40
51
58%
32%
S8 |
127% 120
29 I 21%
23%; 19%
h%: 6%
133 jl20
11 , 8% |
53%; 40%;
26% I ..
Ill . ..
45 i 10.00
25%' ..
%,
1 i
42%
88
2!?%, 11.43
75% 8.96
45%,18.5t>
72%; 8.00
47 I 7.55
43% 6.46
.78]
41%
49%
25 .
'7%
17.C8 j
9.43i
8.24
9.68 ]
17.78
5.56
200;Adams Express 82 %j
400! Advance Rumely I 18^
700 Advance ltumely pf | 50%,
1900|AJax Rubber 29 ,
1700!Alaska Gold M , l*i
1*1
41 HI
90%,
36 % |
SO 1
49%;
~5
3i%; 31%
52 !
62 % i
49%
10%
62%
87 %
107%
20%
73
10
14
44%
53
67
104%
31% | 29
90 | 85
96 { 88
107% 100
88
91
54 I 50
101% | 95%
23% 1114
120% 1110
94 I 87
71%l 57
97
39%
42 | 8.00
57 | 9.68
38%! ..
8% 11.11
46% 5.99
6.98
6.66
81%
100
17%
66%
6%
8%
35 7.31
5% 8.86
63 9.23
95 7.71
10.00
I 7.78
7.53
? 6.91
73% 111.62
83 %j 7.96
10.00
7.98
6.45
10.92
7.48
9%
33
40%
12%
20%
3%
28%
61
54
102%
84%
71%
7%
86%
19%
76
44%
13%
4%'
IE
94%
102%
:<7%
54
55
1
4%
r?%
107%
63%
5*
14%
10
6?
6%
91%
115
20
6
14%
18%
54%
7%
42%
77%) 68%
60 ! 41%
119% 114
48%l 35%
96
32%
93
32
8%
26%
33% j
11 ! ..
*0%i ..
8*1 ??
24 15.38
55% 10.16
45 13.46
94 I 6.12
81 ! 7.32
75%| 6.41
2%'
82%]
7% ..
16% ..
38%|24.33
3b 113.16
10
10
7
C
8
12
12
a
1100 Alaska Juneau G M....
21214,Allied Chem A Dye
6001 Allied Chem & Dye pf..
7000 Allls Chalnv'r.s Mfg....
410 .A Ills Chalmers Mfg Pi
C800;Am Agric Chemical....
200|Am Agrlc Chemical pf.
900 Am Hank Note I 54
20o Am Hank Note pf 46
4200{Am Beet Sugar ! 49
4300iAm Bosch Magneto i 55
5100iAm Can ) 29%
700jAm Can pf 85 84%, 85
292f>!Am Car A Foundry |124%]123 !123%
200 Am Chicle ' 22%' 21%; 22%
800 Am Cotton Oil 24_ ! 21% 21%
2200;Am Druggift Syndicate..! 6%| 6%; 6%
200iAm Express
1400 Am Hide A Leather 9
2100 Am Hide & Leather pf
1?
50
27%
1%
1%
42%
90
35
78%
46%
72%
51%
46
43%
52%
28%
18
50
28
1%
1%
42%,
30
35% i
78%
48%
75
53
46
45%
53%
28%
600
500
16600
1400
4700
10200
Am Ice
Am Ice pf
Am International Corp..
Am La Prance Fire ICng.
Am Linseed Co ex dlv...
Am Locomotive
200!Am Locomotive pf.
900
1600
7400
3200
3700
800
8.S3
Am Malt & Grain
Am Radiator
Am Safety Razor
Am Ship & Commerce
Am Smelt & Ref 41%
Am Smelt & Ref pf 80
2001 Am Smelt Sec A 65
1200JAm Snuff 104%
3700 Am Steel Foundries 30%
100|Am Steel Foundries pf.. 90
10400|Am Sugar Ref ex dlv... 94%
8001 Am Sulfur Ref pf ex dlv. 103%
17500lAm Sumatra Tobacco...., 88
lOOlAm Sumatra Tobacco pf. 87%
lOOlAm Tel & Cable ex div.. 50
12000 Arn Tel & Tel 101%
10400!Am Tobacco 121%
4700'Am Tobacco B H8%
100!Am Tobacco pf new 93
30800 i Am Woolen 64%
lOOjAm Woolen pf 95%
lOOjAm Writing Paper pf.... 82%
600!Am Zinc. Lead & Smelt.. 8%
400|Am Zinc, L & Smelt pf.. 27%
38001 Anaconda Copper 38%
lOOlArtn Arbor 11
lOOjAnn Aibor pf 20%
200 Assets Realization ' 2%
124%124% |124%
8%
45 j 44
50% 49%
C2%! 61%
46 j 42%
9 , 8%
50% | 46%
87% I 85
106% 1106
20 | 19%
73 72%
% 6%
10% 9%
40%
79%
65
101
29%
2G
58%
52
99%
82%
8%
4%
22.22
7.S6
7.00
8.00
9.90
9.4*
7.67:
8.77'
3%|
13 )
84
99%
32%.
49%;
24%
%|
2%
50% I
99%!
53%'
4 !
10%(
6%'
51 I
3% i
81% 11.G2
105 6.09
14%
4%
10%
13%
59% 9.84 f
3 136.36
25 | ..|
9.86
8.33
8.77
1001Associated Dry Goods
100 Asso Diy Goods 1st pf. .1
IOcIasso Dry Goods 2d pf...|
C00| Associated Oil Co
390f j Atch, Top & Santa Fe....'
500 Atch, Top A Santi Fe pf;
3200'Atlanta, Blrm & Atl....j
400lAtlantic Coast Line 88%
20<>'Atlantic Fruit 8%
1001 Atlas Tack Corp
10(244400 At. Gulf & W I S S.?..
61 7800 At, Gulf A W I S S Pf...
. .| lOOlAustln Nichols
.. | 100! Autosalef I
3] 10<>|Autorales Pf
7! 580001Baldwin Locomotive Wks
7! 10(-iBi'ldwin Loco Wks pf...
..j 000':! Baltimore & Ohl<
4! 110"! Baltimore & Ohio pf
1000
100
7800
100
510
1000
B".
44
75% |
62%!
8%
11*1
6%)
9
20%;
.31 !
46%
71
110
70%
28%
64
75
12%
23%
48
66
62%
25
80
2
34% Jll.43
64 114.28
8.14
7.40
57%
6%
11%
4
7%
17%
26
41
?5%
106
CO
25%
ei%
72
9%
19%
43%
60
48%
19
6.67
7.35
6.66
12.90
9.60
9.59
7.58
12.87
30% i 27 110.00
87% 27%
52
63
12%
62%
88%
59%
82%
21%
66
SI
49
56%
7%
60
35%
60
77%
19
56%
1
73%l 65
105
82%
107%
38%
26
67*
31
102
220
2%
4%
16%
4*
?1
21%
9*
40
63*
95
14%
21%
15%
68%
84%
8%
15%!
20% |
5%
71%
112%
62%
92
84%
132%
16%
71%
70%
82
44%
85 ;
13% |
79%
32%
24
18%,
9%
26
36%.
13*
19%
60%!
50%
13% i
80%!
91
7%
15%
87%
S%
1R
13%
57
100
28%
78
27%
21
61%
25
99%
208
%
1%
10%
8*
88
17
7
35
52
87
18
19%
13%
48
76%
10)
Barnsdall Corp
B&topllHs Mir.ff
Bethlehem Motors
Bethlehem Steel
Beth.ehcm Stee", 8 p c pf.
Bethlehem Stc-el B
1100 Booth Fisheries 5
2000 i Brooklyn Rapid Transit.! 12%
800|Bklyn RaP Tr ctfs of dep.
40fllBrooklyn Union Ga.i ....
400 Rruns Term A R R
1100!Bi!rns Bros
10%
4C%
41
10
3%
13%
91%
99%
34%
50%
25%
%
3%
63
106%
57%
8
59
4%
88
44%
50
62
44%
8%
50%
86
106
20
73
6%
10%
'40%
79%
65
104%
29%
87%! 9ff
90% I 92%
101% 1101%
84% i 86%
87%
50
100%
118%
116%
93
60%
95%
32%
8%
26%
38
11
20%
2%
26
58%
52
98
81%
77%
2%
82%
7%
16%
38%
35
10
3%
13%
87%
99%
33
49%
24%
%
2%
53
105
5f>%
4%
11%
7%
57
4%
86
7.69
10.00
13.20
10.96
13.72
8.58
15.00
12.28
5.59
6.91
8.77
8.41
12.90
10.61
16.00
9.00
9.34
6.67
7.96
8.39
7.48
12.12
9.64
600!Burns Bros pf 115 |108%
KOOlButlerick Co 19%|19%
800'Butte Copper A Zinc 5 4%
300'Butte A Superior Cop 12%| 12%
l-l00|Caddo Cent OA R 14% I 14
1500|Califorr.ia Pack Co, ex divj 61%l CO
17000|Callahan Zinc
8000|Californla Petrol
52')IOi lfornla Petrol pf
30C'!Calumet A Arizona
12300'Canadian Pae, ex dlv....
4700|Central leather
700'Centra! Leather pf
1800jCerro de Pasco Cop
400,Certain-teed Prod Corp..
61000(Chandler Motors ...
7700[Chesapeake A Ohio.
lOO'Chlcago A Alton 7%
100'Chlcago A Alton pf 11%
COO'Chic A E 111 pf eq tr ctfs 4%
3200!Chlcago Gt Western 8%
1100 Chicago Gt Western pf..| 18%
4C00[Chicago, Mil A St Paul..
6400 Chicago, Mil A St .P pf..
1500 Chicago A Northwestern.
100|Chicago A Northwest pf.
200'Chlcago Pneumatic Tool.
9800'ChIcago, R I A Pacific...
300 Chicago, R I ? P 6 p c Df
5%
41%
73
48
117%
39%
86
27%
35
, 69%
I 60%
. - '
400 Chicago, R I * P 7 p c pf
9500 Chile Copper
4
7
2%,
8
11*
13%
2
40%
80
54
84
80%
120%
13
66%
64
69%
34%
72
9*
74%
28%
20
12%
8*
21
28%
11*
15
66*1
49%
11%I
66 |
87
6%
?%
81
3*
10%
7%
42* 10.70
5.56
9.84
7.78
8.29
6.06
7.69
8.45
9.23
9.33
16.99
7.69
9.33
12.48
14.29
11.11
8.70
7.69
7.$6
11.11
1*!
Chlno Coppor
Clev, C. C & St Louis...
Clev, C, C A St L pf
Cluett. Peabody A Co....
Coca-Cola
Col Fuel A Iron
Colorado A Southern....
Colorado A South 1st pf.
Columbia G A Elec
Columbia Oraphophone..
Col Graphophone pf
Comp Tab Record
Consolidated Cigar
Consolidated Gas
Consolidated Textile
Continental Can
Continental Candy
Corn Products Ref......
Corn Products Ref pf...
Cosden A Co
Crucible Steel Co
Cuban Am Sugar
Cuba Cane Sugar
Cuba Cane Sugar pf
Davison Chemical
Delaware A Hudson
Del, Lack A Western....
Denver A Rio Grande...
Denver A Rio Grande pf.
Dome Mines
|Duluth, 8 8 A Atl
Durham Hosiery Mills pf
Elk Horn Coal Corp
Emerson Brantlng
Emerson Brantlng pf...
Endicott Johnson
Endlcott Johnson pf
Erie
Erie 1st pf
Erie 2d pf
Famous Players-Lashy ..
Famous Players-L pf...
Federal Mln A Smelt
Flsk Rubber
Freeport Texas
Gaston, W A Wlgmore..
General Asphalt
General Asphalt pf
General Cigar Co........
General Cifrar Co pf
Gen Cigar Co deb pf....
Oeneral Electric Co
General Motor
Oeneral Motor pf
Oen Motor Corp deb
O Mot Corp deb pf 7 p c
Goodrich (B F)
Ooodrlch (B F) pf
Gray A Davis
6300 Great Northern ore ctfs.
200 Greene Cananea Cop....
800 Ouantanamo Sugar
700 Oulf, Mobile A North
200 Oulf, Mobile A North pf.
100 Gulf States Steel
100 Hablrshaw Elec Cable...
100 Hendee Manufacturing ..
500 Haskell A Barker Car...
1600 Homestake Mining
2800 Hupp Motor
2600 Houston Oil Co
800 Illinois Central
K'O Indiahcma Ref
2300 Indian Refining
J.800 Inspiration Con Cop
2i?00:Interboro Con Corp
t>00|Interboro Con Corp pf. .
4700jlnt Agri Corp
2&0( ilnt Afc'ri Corp pf
28%
43%
68
106
63%
28
62%
73%
11%
21%
43%
66
51%
22
30
37%
52
59%
9*
65
87
54%
82%
20%
, 68%
1%
72
102
28%
96
33%
24%
67
26
100
219
1%
4
16
8*
91
20%
7
36%
61
95
18%
20%
18%
68%
84
?
14*
17%
2%
66%
90
62%
90%
84
132
14
71%
66%
76%
87%
79%
12%
76%
32%
21%
15%
9%
26%
31
11%
16%
57%
fO
18%
70%
89
?%
10%
34%
4%
14
?
46%
5
38%
71%
48
114
37%
85
27
34%
C5
58
7%
11*
4
7%
18
27
41%
66%
106
62
26%
62
72%
11
21%
43%
65
48%
20%
29
82%
62
59%
5
51*
36%
60
78%
19%
67%
1
69%
102
28%
91%
30%
23%
65%
25%
100
219
1
1%
16%
8*
88
20%
7
36%
60%
94%
13
19%
13%
65%
83
?
14*
17
o
63%
86
61%
90%
88%
130
13
71%
65%
75
86
78%
12%
74%
29%
21%
14%
8%
26
81
11*
16*
57%
49%
13
67
88%
6%
9%
4H
1?*
7*
42*
%
50
101%
119%
116%
93
64
95%
32%
8%
27%
38
11
20 V,
2%
26
58%
52
98
82%
77%.
3%
82%
7%
16%
41%
37%
10
3%
13%
89%
99%
34%
50%
25%
%
2%
53
105%
57
4*
12%
8
59
1%
86%
113
13%
12%
14
61
5%
38%
71%
48
114
39
86
27
34%
69%
59%
7%
11%
4
8%
18%
27%
42%
68
106
62
27%
62%
72%
11
21%
43%
66
48%
21%
30
36%
62
59%
8*
53%
36%
51
82
20
67%
1%
71%
102
28%
94%
31
23%
66
25%
100
219
1%
2%
15%
8%
88
20%
7
86%
60%
95
13%
19%
13%
66%
88
6
14%
17%
2
66%
90
61%
90%
84
132
13
71%
65%
75%
37%
78%
12%
75%
32
21%
14*
9*
25%
31
11%
16%
67%
60
13%
69%
89
6%
9%
33V,
4%
13*
8
46%
Year to datf
itungc lDL'l | Dlv. II>lv.,
High. Low. |Ylel<l.|ln ? Sitlen.j
1&21.
2M66.37
1920.
44,976,685
100%,
110 I
93%
103
7.12!
6.511
16V.t I 13% I
64% 43% !
.. 11.65'
32141 .-t
57 V. 111.29!
9.59
sal
26
?%
4%;
11%
38%
25%!
:??%
49%|
49-*
94
45
21 |
17
140
58% i
46%
J4%! 12U;
71
19 | ..I
6 1 . .1
**' ..I
4 ! ..1
? ?
14% I' -I,
11%' ..J
45 % I 8.14|
37 ) 10.131
84% j 9.201
?to I ..!
1"% I ??
s v*j ??
180 3.57
52 110.91 (
40 J ..|
I 6.l)6| 3% I
' 12!
20
7%j
11 ,
78 !
167 *4
19%
15%
33%
13
73
69%
3
5%
20%
41%
56%
19%
28%
30
108
36%
5%
65
74
105
6%
12
77%
89
74%
50
25%
45%
23%
19%
33
104%
61%
88%
38
13 2.50)
13.73!
56%| 51
150 |139 | 8.00!
105% 97% 0.71!
1S%I 15 11.431
12% 10%! 9.091
-12 I 31 1 ..!
164%f!3r I 7.591
103% 97%j 7.-n!
57%; 57 I 7.02[
89%! 68
58%I 45%
15%
2%
7%
65%
150%
15%
11%
29%
11
69 % 110.07
56 | 6.81
2%' ..
4 !
18 | ..
38%
53
14%
21
20%
102
25%
2%
49%
C9%
100%
4%
9%
60
78%
70
46
20%
44
18%
16%
30
96%
54%
79%
31
9
3%
4%
26
SOO^nt Harvester Co
200 Int Harvester Co of
1200 lint Mer M;:n|ne
3900 I nt Mer Marino Pf
S00 i I lit Mctor Truck
100|lnt JiOtor Truck 2<1 pf - ..
3000[Int Nickel
11600,Int Paper
7C0jInt Papt-r pf stpd
t>800!lr>vll cible Oil
200 j Iowa Central
201001Island Oil & Trans Corp.
45C0I Jewel Tea
500|jewel Tea pf
700[Jones Bros Tea
816001Kansa* City Southern...
2100lKansa.s City Southern pf
11600iK"Uy Springfield Tire ...
400!Kelly Srring'ld T 8 p c pf
4001Kelsey Wheel Co
15500'Kcnnecott Copper
11100 IKey stone Tire & Rubber.
100 [Krt sge Co S S
1900 Lackawanna Steel Co....
200; Laclede Gas of St L
2001 Lake i Erie A Western...
500H.ee Rubber & The
3100|Lfhlph Valley
100.LIk & Myers Tob pf B..
SOOiLlggett A Myers Tob pf..j
2669'- Lotws, Inc I
1700 Lift, Inc
SlOOiL'jose Wiles Biscuit
MOoiLorillard, 1". Tob
100 (Louisville & N*ashv
lOOiMackay Cos pf ?
100|Manatl Sugar
[ High. [ Low.I Last. I
99 I 97% I 97 I
10?%'106%I106%!
14%! 131^! 14 I
52% i 49% I 51%
33% 32% | 32%,
62 ; 62 ,62 j
15%! 15 [ 16 |
57% 53%! 54% |
73% I 73 ; 73 |
22%! 19% I 20%
6% 6 j 6 I
4%' 3%I 3% i
9%, 8%; 9%
25% I 20 Vi i 21 % ;
24% 23 23%'
24% j 20% 1 23% i
49%l 47%; 49 % |
40%' 38%) 39 Mi i
87%! 87%' 87%]
45 41%! 45 1
18% k%! 17%:
16% 15% 15%'
140 I140 140
56% i 54
41 41
12% 12%
21% 20%
63% 51%
150 :160
105% |lr'5
12%
4
r.%
28%
10.68
7.69
11.11
9.86
6.45
j 5.62
15.38
10.00
8.28
6.71
8.67
12.54
6.99
9.01
5.54
5.71
12.70
7.00
8.33
8.62
13.51
11.11
14.29
8
12
2
1.60
128% 1115
16
54%
13
47
41%' 30%
19% 13
48%! 46%
17%l 15
79%| 71%
71%
14%
41% I
17 I
40 I
19% |
35%
76
31 % I
27%
80% I
ii%;
78
62%!
88%)
32
75
14% I
96 I
104 !
62 I
7.37
6.25
1
4
nl
51
5]
i!
40c I
I
6.12 3
10.63
6.67
8.09
8.89
66
12%
37%
9
33% |
16%i
32
73
23%
19%
68
10 %
74%
57
82%
28
71%
12%
81%
94
54
111% 1103%
51%! 43% 116.41
36% I 32%' 6.06
7.74
9.09
9.59
8,?:
10.65
8.47'
6.94
8.03
8.00
8.96
7.45
6.50
7.66
89
14%
94%
55
57%
37%
39%
24%
73%
90%
10
69%
13
14%
30%
41
5%
22%
6%
7%
12
98%
102
20%
?%
46%
25%
56
73%
99
101
24%
60
167%
110
95
37
4*%
62%
10%
13%
48
25%
9%
45
36%
24%
20
12
57%
91
12%
44
75
24%
122
67%
84
106
47
207
12%
26
68%
16%
46%
7
27%
72
97
51%
72%
103%
85%
85
112
69%
12%
41
42%
102%
8%
8%
28%
13
72
11%
19%
2000 Manhattan Elevated ....
200 Mathleson Alk Works...
500 Maxwell Motor
400 Maxwell Motor 1st pf....
1400 Mays Dept Stores
62000 Mexican Petroleum
1200 Miami Copper
17000 Middle States Oil
13800iMldvale Steel & Ord
3800 Minn & St Ix>uis new
200'Minn, St P Ac S S M
200iM. St P A S S M 1 1
2100!Mlssouri. Kan & Tex....
1210 Missouri, Kan & Tex pf..
8900 Missouri Pacific
2300 Missouri Pacific pf
100 Montana Power
1000'Mont Ward & Co
300 Mullins Body
1300|National Acme Co
200|National Biscuit Co
400|Nationnl Cloak & Suit...
8001 National Conduit & Cable
3001 National Enam & St ex d
3001 National Lead Co
200|Natlonal Lead Co pf
2200'Nat R R of Mex 2d pf...
..j 700 Nevada Con Copper
6' 2000!New Orleans, Tex & Mex
10 1500|New York Air Br ex dlv.
51 5500iNew York Central
. .| 200!New York, Chic & St L..|
2%I 12000lNew York Dock
2%| 100 New York Dock pf
..I 9100|New York, N H & Hart.
200!New York, Ont & West..
200!New York Shipbuilding..
3400lNorf & Western ex div..
4600'North American Co
71 54000'Northern Pacific
400'Nova Scotia S A C
200'Nunnally & Co
2925|Oklahoma Prod &. Ref...
lOO'Ontarlo Silver Mining...
400l0rpheum Circuit
2000|0tis Elevator
500'0tis Steel
1000'Owens Bottle Co
32700|Paciflc Oil
1001 Pacific Development ...
6l 13001 Pacific Gas & Electric...
ll lOO'Pacific Mail
6 12200|Pan Am Petrol & T
6 1600lpan Am Petrol & T B...
..! 200lParr!sh & Bingham
3j 70200'Pennsylvanla R R
... 64001 Penn Seaboard Steel....
..( 2700jPeoples Gas, Chicago....
.. S400'Pero Marquette
3; 5400'Phlladelphla.Co
100!Phillips Jones pf
8300]philllps Petroleum
16600IPlerce Arrow Motor
400'Pierce Arrow Motor pf..
1100!Pierce Oil Corp
400'Pierce Oil Corp pf
2300 Pittsburg Coal of Pa....
800 Pittsburg Coal of Pa pf..
38001 Pittsburg & West Va....
200'Plttsburg & West Va pf.
l| 500'Pond Creek Coal
8 1000;Pressed Steel Car
7! 200i Pressed Steel Car pf
4 300]Publlc Service Corp N J.
8' 2000'Pullman Co
55
41
12%
21 %
53
150 '
105% I
17% | 16 ! 16% l
11% j 10%' 10% j
S6% 32%I o4%
164% 155% 159
100 100 100
80%
51%
17
5%
8%
76%
159
18% 17%
13% 13%
31 ] 29%
12%, 11%
70 69%
58% | 58%
80% | 80%
49%| 51
17 17
5 5%
7% 8%
74 | 74%
164% i 156
18
13%
31
2 U.
4%
19%
39%
54%
18
26
22%
2%
4%
18%
38%
54%
16%
2 r.%
_ 20%
104% 104%
31%
3
60
72%
105
5%
11
71%
84%
31%
2%
59%
70%
105
12%
69%
58%
2%
4%
19
38%
54%
17%
26
22%
104%
31%
3
69%
72%
105
5%
10%
70
81
10%
69%
80 . __ ,
71%! 70 | 71%!
47%I 47 I 47 I
22% ! 21%' 22%
45% I 45% | 45%
20 I 18% 19%
17%| 17 ; 17%
3i%: 31%
96% 99%
32
100
61%! 65%
S4% I 79 V?
37 i 37
9% j 9
3% 3%
4%! 4%
27% I 26 %
128% 1124%
14 13%
50 49
32% I 30%
13%! 13%
47% 46% 47%
10 ! 15 15
75% I 73% 74%
67%! 66% 67%
13% 18% 13%
37%
8.99
5.331
4.65
4.44
82
11%
72
42%
45
26
24
18
60%
89 V-1 7.31
8
9.04
8.2C
8.33
66%
11%
20%
23%
86%
3%
11%
2%
6%
10
76
99
15%
4%
38%
22%
48%
73%
73
75%
21%
66%
143%
106%
85
27
80%
43%
8%
7%
39%
15
7%
41
23%
16%
13
7%
61%
31%
7%
86%|13.47
7.00
2..W
12.87
9.52
8.11
7-84
8.77
3.49
6.66
7.46
12.30
11.76
12.50
16.00
7.23
8.00
27.78
11.01
7.96
68
20%
117%
64%
27%
93
44%
100%
9%
19%
61%
11%
39%
6
20%
64%
92%
41%
62%
101
32%
80%
107
46%
8%
32
32%
96%
6%
7%
19%
*%
49%
?%
17
11.43
3.28
6.95
8.41
7.66
7.87
6.56
11.96
11.69
7.31
11.90
7.88
6.06
6.16
6.36
10.15
11.76
11.76
8.22
8.61
6.20
1
Punta Allegre Sugar
Pure Oil
Railway Steel Spring
Ray Consol Cop
Reading
Reading 1st pf
Reading 2d pf
74c
*6
7
6
6
*5
6
7
7
5
8
io
4
*8
8%
3000
14800
700
5800
31400
2500
1000
3001 Remington Typewriter
2400 Replcglo Steel
1000 Republic Motor Truck...
5500 Republic Iron & Steel..
300 Republic Ir A Steel pf...
600 Robert Rets
1800J Royal Dutch Co N Y....
900 S*. Joseph Lead
9900 St Louis A San Fran....
25600 St Louis Swn
6300 St Louie Swn pf
500 Santa Cecilia Sugar
200 Savage Arms Corp
3100 Saxon Motor
800 Seaboard Air Line
100 Seaboard Air Line pf....
16000 Soars Roebuck Co
300 Sears Roebuck Co pf....
900 Seneca Copper
600lShnttuck Ariz Cop
701-IShell Trans A Tmding..
26S00 Sinclair Consol Oil
200lSloss-Sheff:tld S & I
lOOISloss Sheffield 8 A I pf.
100 South P R Sugar
18300 Southern Pac, ex dlv...
lo700lSouthern Railway
1000'
- 1200
2700
Southern Railway pf
Standard Oil of N J
Stan Oil of N J pf, cx dlv.
lOOl.Sterr Bros pf.
700
CV)0
67000
1200
5100
soa
800
7C0
29500
23500
8000
100
Stewart Warner Speed...
Stmmberg Carburetor...
Studebaker Corp
Submarine Boat
Superior OH
Superior Steel Corp
Temtor Corn A Fruit A..
Tenn Cop & Chem
Texas Co
Texas Pac Or.al & Oil....
T'-xoh & Pacific
Third Avenue
4S00 Times Sq Auto Supply..
16100 Tobacco Products
200 Tobacco Product* pf...
8600 Transcontinental Oil
8400 Transue A Wmi Steel...
300 Union Bag A Paper
4300 Union Oil
10800 Union Paclflo
300 Union Pacific pf
4000 United Alloy Steel
1400 United Drug Co
100 United Drug Co 1st pf...
16500 United Fruit Co
1600 United R" Investment...
1700 United Py Invest pf
24600 United Retail Htores
2100 U S C I Pipe A Kdy
100 U S C I P ft F pf cx dlv.
400 U S Express
16600 U S Pood Prod Corp
8800 U S Ind Alcohol ex dlv..
100 V 8 Ind Alcohol pf
700 U S Realty A Imp
48400 U S Rubber
1000 U S Rubber 1st pf
500 U S Smelt, R & M
64900ll' S Steel ex dlv
2700 IT H Steel pf
26300!Utah Copper
2700 Utah Sec Corp....'
11600 Vanadium Corp
8100 Va-Carollna Chemical ..
300 Va-Carollna Chem pf....
7400]Vlvaudou V
4500| Waliash
8 4001 Wabash pf A
1400i Weber A Hellbroner
100!Wells Fargo Express....
3K00| Western Maryland .....
25001Western Maryland 2d pf.
60
81%
37
9
3%
4%
27%
127%
.14
49
31
13%
40
12
40
18%
33%
73
25%
27%
79%
11
76%
59%
86%
29%
75
13%
91
94
61%
105%
50%
33%
89
13%
75%
45%
46%
31
29
21
67%
96%
8%
61%' 58
3.8%
10% 10%
37% 39%
17% 18
33
73
23% 25
26% 26%
78 78
10% 10%
7.5 75%
57% 59
86% 86%
28 28%
74% 74%
12%
89%
94
59
104%
48
32%
88
12%
72
42%
45
30%
27
19%
65%
96
11%
23%
30%
40%
4%
17
5%
7
10%
79
100%
15%
6%
89%
23%
49
78%
74
77%
22
57%
160%
11%
20%
28
38
4%
16
4%
6%
10%
76
100
15%
6%
89%
22%
48%
73%
74
75%
21%
57
142%
107% 108%
95
32% 32
34%
60%
8%
8%
41
17
8%
41%
26%
24%
17
10
55%
89%
8%
?9%
72
21%
121%
67%
29%
96
46%
108%
12%
26
65%
16%
44
6%
24
69
96%
46%
68
102%
34
82%
109%
51
12%
35%
34%
98
6%
8%
21%
11%
62%
10%
9t
30%
58
8%
7%
31*%
16
7%
41
23%
22%
14%
7%
61%
88
8%
86%
70
20%
119%
67%
27%
93
46%
101
10%
24
68%
15
44
6%
20%
67%
96%
44
64%
101% 102
32%
80%
46%
10%
32%
32%
98
6%
7%
20
9%
62%
9%
12%
89%
94
61%
105
48%
33%
89
12%
74%
42%
45
80%
27
19%
66%
96%
8
60%
11%
22%
29%
39%
4%
16
4%
6%
10%
78%
100%
15%
5%
38%
23%
48%
73%
74
7ti%
21%
57
143
106%
96
32%
32%
69%
8%
8%
40
16
7%
41%
25
23%
16%
?
64%
88
8%
37%
70
20%
121
67%
28
95
46%
102%
11%
26
64
16%
44
6%
21%
68%
96%
44%
67%
32%
81%
109% 109%
18% | 17%
49%
12%
34
34
98
5%
8
21
11%
62%
10
18
FRENCH MARKETS
GROW STRONGER
Rally Due to Definite Decisions
at London Conference and
Confidence in Harding:.
SURE OF AMERICAN AID
Railroad, Oil, Rank and Mine
Securities Show Effect of
Optimism.
Special Cable to Tins Nh-w Ton it Hbiiai.d.
Cnptrrioht, 1921, by Tun Nrw Yobic Heeai.ii
New Vork Herald Rurrnii, )
Piirin, March !>. (
After several hesitant sessions Paris
money and stock irarkets rallied consid
erably following definite decisions taken
ut the London conference and the belief
of some financial authorities that the
Harding Administration, despite failure
to pledge anything In the President's In
augural address, ntlll intends to come to
the aid of France. The tone of Influen
tial brokers is distinctly optimistic in
their declarations that even if Germany
pays the United States cannot Ignore
the call from Prance for a helping hand
if international trade balances are to be
brought back to normal.
With this new optimism haa come a
strengthening in t-allroad, oil, bank and
mine securities, with Bakou Oils and
Bethune Coal breaking all records by
Jumping 10 per cent, in two days. Bank
discount rates increased one-eighth dur
ing the week, but the rate to-day is still
4 per cent. Apparently money is avail
able for commercial purposes, although
the banks still are shaky over rumors
current a fortnignt ago that certain big
industrials in western France were fac
ing bankruptcy. They are insisting utfon
gilt edged security before loosening the
purse strings. The outstanding feature
of the week waa ttte decision of De Beers
to reduce production on the strength of
reports from all quarters that the mar
ket was flooded with both rough and cut
diamonds. This naturally tightened the
gem issues, but the movement was not
transmitted to other departments.
The Interest of investors was fixed
upon the increase in capital stock of
the thermal establishments at Vichy, a
total of 9,600,000 franca to be hvued
within the next fortnight. The abund
ance of public money for such Increases
aroused the attention of the Govern
ment which is pointing out the greater
patriotic necessity of putting nny avail
able funds Into Government defence
bonds rather than into private enter
prises at a time when the nation's treas
ury is facing the greatest crisis in its
history.
This new effort to attrnct the sav
ings of citizens, naturally, evoked dan
gerous rumors, some Insisting that an
increase in the country's paper issues
had been decided if the nation falls t<">
respond to the maximum 10,000,000,000
p?er year which M. Loucher bcl'cves pos
sible and If the funding of the allied
war debts is not accomplished during
the spring.
The most formal denials that any great
er inflation is Intended are daily forth
coming at the Ministry of Finance banks,
where it is insisted that the confidence
of the public is growing rapidly enough
to Insure the success of any internal
loans which may be considered necessary
this year.
LONDON STOCK MARKET
SHOWS FIRMER TONE
Business Dull, but Severity of
Tax Pressure Abating.
Pperinl Cable to Tub Nbw Toiic Hbrai.o.
Copvrtpht, 1021, by Tub Nrw York Hbiai.d.
New York Herald Bureau. 1
London, March 0. I
Although business practically wau at
a standstill during all the week, the
stock market closed with much better
feeling than for some time past. Liqui
dations were not so noticeable and there
was a little buying of gilt edge and other
securities.
One of the favorable factors revealed
to large industrial concerns which were
desirous of making new Issues was that
underwriting was at all events not a
great difficulty. This has helped sections
of industrial securities and also removed
another weak spot. This, however, is not
stating that the field for underwriting ia
unimpeded.
The great financial difficulties occa
sioned by the war will require years of
deliberation even if the facts yet to be
faced come uninterruptedly into view.
There is, however, all the difference in
the world between the assertion that
chaos Is Inevitable and already at hand
and the more sober reasoning of the last
week.
The truth of the matter Is that the
end of the severity of tax pressure seems
to be approaching, and there even Is
talk of cheaper money. Rumors that the
Government may later be funding a por
tion of the floating debt helped the
cheerfulness, and there Is no doubt that
the markets liked the firm front shown
by the Allies In dealing with Germany
and would (save resented any weakened
policy.
Optimists predict a decided reduction
in the bank rate before the end of May.
Hopes based on trade revival are prema
ture, although it is to be doubted whether
the genuine trades have really been
affected by the high rate. The truth Is
that trading troubled are deep seated.
The fall In the price of commodities
has been heavy. There still is much
trouble ahead, and until working costs
are reduced and export business is re
sumed?the latter cannot be accom
plished without the former?there will be
no real revival of trade.
WEEK'S PRODUCE PRICES.
CHICAGO.
WHEAT.
High. Lor. J .aft.
March 174 lrtr, 171
May 1?? 1B2
COHN.
May 72H 07% 71H
July 74H 70H 7.IH
OATS.
M?y 4?\ 44* 4?H
July 47 "i 4G 47*
rORK.
May 22.40 21.7B 21.H0
LARD.
May 12.K2 12 OS 12..W
July 12 00 12 47 12 70
RIBS.
May 12 OT 11.3T, 11.77
?Jnlir 12.42 11.IW 12.12
City of Yonkers, N. Y.
? ? *
Sl/2% Registered Bonds
Due January 1st, 1923-56
I Exempt from all New York State
and United State* Income Taxes.
Legal investment for Savings Banks
and Trust Funds in New York State.
Interest payable April IstandOct.lst at
City Treasurer's Office in N.Y Exchange
1923-26 to yield 5.25%
1927-29 to yield 5.00%
1930-56 to yield 4.90%
Remick, Hodges & Co.
Members New York Stock Exchange.
14 Wall Street New Yorlc
, ('orrf?pondratit: It. L. Day Co., Boston
Texas
Company
Holdings?
Production?
Finances?
Outlook? Ji
jl'lij The great scope of this com- ||
pany's activities?its large pro
l;l duction. The' financial con- I
dition and past earning ac
complishments together with i
ij| the industrial outlook care- !|j,
fully analyzed and discussed in Jlj
| circular "E 14."
Gratis upon request
! | j |j
Incestment correspondence incited jl
THDSHrowLBrsml
Stocks and Bonds
115 Broadway New York
Telephone Rector 5150
ijil i|
_
FOREIGN EXCHANGE RATES.
WEEK ENDED MARCH 5, 1921.
IONDON.
Demand.
High. Low. Last.
February 28 $3.87% 83.86% $3.87V
March 1 3.88*i 3.87% 3.88%
March 2 3.88 3.87% 3.88
March 3 3.00 3.88% 3.80%
March 4 3.91% 3.90% 3.89%
March 5 3.89% 3.89 3.89V*
Year's range.
High, f3.92, Feb. lfi. Low, $3.66%, Jan. 3.
Cables.
High. Low. Last.
February 28. ... 3.88'; 3.80% 3,88V.
March 1 3.88-% 3.87% 3.88%
March 2 3.88% 3.88 3.88%
March 3 3.90% 3.89% 3.90%
March 4 3.92 3.91 3.90%
March 5 3.90 3.89% 3.90
Year's range.
High, *3.92%, Feb. 16. Low, $3.54, Jan. 3.
PARIS.
Demand.
High. Low. Last.
February 28 7.13% 7.10 7.13V*
March 1 7.24 7.19 7.20
March 2 7.15 7.11 7.14
March 3 7.22 7.19 7.19
March 4 7.24 7.19 7.19
March 5 7.19 7.10 7.18
Year's range.
High, $7.49, Feb. 16. Low, $5.30. Jon. 4.
Cables.
High. Low. Last.
February 28 7.14% 7.11 7.14%
March 1 7.25 7.20 7.21
March 2 7.10 7.12 7.15
March 3 7.23 7.18 7.20
March 4 7.25 7.20 7.20
March 5 7.20 7.17 7.10
Year's range.
High, $7.50. Feb. IB. Low, $5.81, Jan. 4.
BERLIN.
Demand.
High. Low. Last.
February 28 1.60 1.37 1.60
March 1 1.63% 1.61% 1.61%
March 2 1.59% 1.58 1.R6
March 3 1.02 1.110% 1.81
March 4 1.83% 1.01 l-??
March B 1.01% 1.60 1.60
Year's range.
High, *1.85, Jan. 26. Low, $1.32, Jan. 3.
Cables.
High. Low. Last.
February 28 1.61 1.58 1.61
March 1 1.04% 1.62% 1.62%
March 2 1.00% 1.69 1.59
March 3 1.03 1.61% 1.62
March 4 1.04% 1.02 1.63
March B 1.02% 1.00% 1.60%
Year's range.
High, $1.86. Jan. 20. Low, $1.33, Jan. 3.
SWITZERLAND. HOLLAND.
Demand. Cabins. Demand. Cables.
February 28.. 16.59 16.63 34.10 34.17
March 1 16.58 16.62 34.15 34.25
March 2 16 00 16.65 34.15 34 25
March 3 16 68 16.72 34.23 34.30
March 4 16.70 16.75 84.80 34.40
March 8 16.75 16.70 34.25 34.32
ITALY. SPAIN.
February 28.. 3.64 3.65 13.84 13.88
March 1 3.05 3 66 13 85 13.90
March 2 3.65 3.66 13.85 13.90
March 3 3.66 3.67 18.05 13.89
March 4 3.68 3.69 13.05 14.00
March 5 3.67 3.07% 18.8? 13.90
BELGU'M. COPENHAGEN.
February 28.. 7.46 7.47 17.85 17.90
March 1 7.52 7.53 17.60 17.65
March 2 7.46 7.47 17 50 17.55
March 3 7.51 7.52 17.35 17.40
March 4 7.52 7.53 17 30 17.35
March B 7 48 7.49 10.95 17.0U
CHRISTIANIA. STOCKHOLM.
February 28.. 17.10 17.15 22 25 22.30
March 1 16.75 16.80 22.25 22.3:i
March 2 1? 57 16.62 22.32 22.37
March 3 16.55 16.60 22.25 22.30
March 4 16.30 16.35 22.35 22.40
March 0 16.05 16.10 22.30 22.85
GREECE. YOKOHOMA.
Week's range.
Demand. Cable*. Demand. Cables
High 7.57 7.59 48.50 48.75
Low 7.45 7.50 47.B0 47.7B
BOMBAY. HONGKONG.
High 25.00 25.50 48.50 49.00
Low 25.00 25.50 45.50 46.00
BCENOS AIRES. RIO.
High 35.12% 35.25 15.87% 16.00
Low 84.75 SB.00 15.82% 15.7.*
aCANDIlWAVIAN BANKS BOOM.
Special reports received by the Na
tional City Bank of New York show th?
continued prosperity of Scandinavian
banks. Wermlands Enekltda Bank of
Karlstad, Sweden, reports net profits of
8,547,000 kroner for 1920. Nordlska
Handelsbanken, Gothenburg, Sweden,
had net profits of 8,493,000 kroner. De
posits of Malarcprovlneernaa Bank,
Stockholm, are 323,600,000 kroner, and
total resources 434.970,000. Net profits
last year were 6,887,000 kroner.
, . "TfeT
High. Low.| Last. Chge.
25
fi7
84
93
42*
61
9H
IB
35%
13%
5%
30
38%
32
108%
43
61
8.66
8.0 5
7.48
8.51
6.56
10.06
11.98
7.21
12.50
9.20
8900 Western Pacific 29% 26 28%
400 Western Pacific pf 69% 69 6!?%
1400 Wentfrn Union Tel 87% 86% 87
400 Westlnghouse Air Brake. 95 95 95
2600 Westinghouse E ft M.... 47 46% 46%
200 Westing E ft M 1st pf... 62% 61 61
2400 Wheeling & Lake Erie... 9% 9 9%
400 Wheel & Luke Erie pf... 16% 16 16
600 White Motor 40 88% 33%
6500 White Oil 14% 12% 14%
12100 Willys Overland 7% 7% 7%
1000 Willys Overland pf 35 33% 34
800 Wilson ft 00 41% 41% 41%
200 Wisconsin Central 35 35 35
8 300 Woolworth, F W 112 111 111
6 2600 Worthington Pump 48% 4fi% 48
100 Worthington Pump pf B. 86% 66% 65%
?Odd lots.
NOTE?Odd lot transactions are not recorded In separate line union* sales
were made at price outside of the regular full lot range.

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