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9.40% Return on a High-Grade Preferred Stock Wt Recommend jot Incestmsn' West India Sugar Finance Corp. 8% Cumulative Sinking Fund Preferred Slock Price 85 Management in the hands of successful and experienced sugar interests. Equity represented by $3,745,500 Common Stock quoted 200 bid. Earnings substantially in excess of dividend and sinking fund re quirements. descriptive Circular (114) on Request. FARR & CO. Mom bora N Y. Poffoe A Sugar Exchange. Inc. Brokers In flaw and Heflnert Sugar. Spe< la lists In Sugar 8tocW-s. 133 Front St. 'Cor. Pine'l Telephone John A428. Investors' Handbook A statistical man ual giving data on stocks and bonds of railroads, industrial, mining and oil cor porations. Earnings, working capital, dividend rec ords, high and low prices are shown. Ask. /or R-15 J.F.McGovern&Co. Members Phila. Slock. Exchange 32 Broadway 1430 S. Penn Sq. New York Philade'phia Phone Broad 2129 Direct Pritate Wires to All Markets Pierce Oil The present low price level for petro leum and Its products Is looked upon as temporary and as part of th*? re adjustment now In prognose. Mean while, consumption Is surpassing pro duction. and In the event of continued Improvement In the demand for motor vehicle*, a return to normal condi tions In the oil tndustry should be hastened. In the current Issue of our Market Review we have analyzed Pierce Oil, which I* In position to derive benefits from any such betterment. Among other stocks discussed are: Elk Basin Inspiration Copper Tobacco Prod. Export Submarine Boat Simms Petroleum Set on r*que*t for HH19 HUGHES & DIER Stocks?Bonds?Grain 1 Philadelphia Stock Kxch. 7 Pittsburgh Stock Exehangs Members \ Chicago Hoard of Trade " N. T. Produce Exchange 42 New Street, New York Telephone Broad 5140 50fl rifth Ate. Tel. Vanderhllt 95JW ?? W. tilth St. Tel. Harlem MAI Philadelphia PiUrtmrqh ( Irreland We have ready for Record distribution to in ! Booklet \estor' and market tradcri a handsome u_- .. ly hound 70-page PURCHASE AND SALES booklet, especially valuable for keeping a simple and accurate record of all transaction). It is useful not only because it shows you at a glance how your account stands, what your profits and losses are on each trade, but also as a reference for income tax purposes. Dividend tables for figuring the investment yield of securities are appended. If >ou mill send us a list of the stocks and bonds you now hold, we will be glad to enter them and send the booklet to you; or. you may make your own entries if you choose. Copy sent FREE on request Ask ror H ?4 SSRuskay g Co. r.STABUBHrn IP77 Mtfflbers O"*.soiidated r">di of 20 IIROAD ST. NEW YORK Phon?a. * r 7001-7>"li"VQ Ten Active Listed Stocks Dealing* in the ntock market have agfmi become (entered in a compare puralively few issues, which today arr purchasable at j.tires ieprr-. anting n dis r otint of 30% to 80% from their rcvent iiigh level". Lift r,j II) a<tt e nmmjn jhr\j nhich fir >am: Urn: put he? | monopt>li-f! l ading h "? -v ',.nt a' WSj or more c) th I rata' rofu-:- oj Iron so'tiuns, ttgtlSer uitk hen Mn.WiO j fifhi and lotfr. carninfs, rUti- 1 dendt. hook, values, eIt., mailed jf.f upan request Ask for H-500 KCHI.FR.BRF.MER ?STOCKS-BONDS? J2 Broadway lUimpinn Hotel. ?^NMVVtmii AsAAW.HV GOODYEAR BONDS OFFERED TO-DAY Bankers to Float $80,000,000 and Others to Underwrite $27,500,000 Debentures. The final step in restoring the Good year Tire and Rubber Company to a j sound financial position with a read justed management und'tr the direction of three" voting trustees will be taken i to-day. when a group of bankers will offer $30,000,000 of the company's first mortgage twenty year 8 per cent, ?lnk l Ing fund gold bonds at 99 and Interest, ? to yield about 8.05 per cent., and another j group will underwrite an issue of $27, ; .">00,000 of Its ten year 8 per cent, deben- j ! tures, which are to be offered to Its} ! stockholders for subscription. The banking group which offers the j first mortgage bonds will be headed by1 the following: Dillon, Read & Co., Gold man, Sachs & Co., the NattonaJ City Com- : pany, Lee, Ffigginson & Co., the Guar- | anty Company of New York, the Chase ?Securities Corporation and Blair & Co. The underwriters of the debentures. ; which are to be offered to the share- ! 1 holders in about a week, include the fol- ! j lowing: Tli? National City Bank, the' Irving National Bank, tlie Bank of! Manhattan Company, Blair & Co., Dillon, Road & Co., the Continental and ?'om mercial Trust and Saving:* Bank of Chi cago, the Gliftrd National Bank of Phila delphia. Hallgarten & Co.. the Mellon National Bank of Pittsburgh, the Union Trust Company of Cleveland, the Old : ! Colony Trust Company of Boston, the 1 Bank of California of San Franclspo j .ind A. G. Becker & Co. of Chicago. To consummate this recapitalization took months of effort, more than 100.000 individual consents being required be fore it could be put through. Consents were given by holders of $65,000,000 of the company's preferred stock. $60,00'0, 000 of Its common Stock and of $S5, 000,000 of Its debt. Including contracts and contingent liabilities. To insure a strong management the company is to be controlled during the life of the bonds through management stock held by Clarence Dillon of Dillon, Read & Co.. John Sherwin, chairman of the board of directors of the Union Trust Company | of Cleveland, and Owen D. Young, vice- ! president of the General Electric Com- ! pany. Those men will name a majority of a new board of directors of the com pany. which, it is anticipated, will make I changes and readjustments among Its ; executives. Under the recapitalization the $65.- j I 000.000 of the company's old preferred j stock remains unaffected. There are ! authorized $40,000,000 of its prior pref- ! erence stock, of which about $30,000,000 1 ! has been taken by merchandise creditors. | There will be outstanding about 900.000 shares of its common stock of no par I value carried on the books at $1,000,000. Giving effect to the new financing the j company will have a3 of May 1 total resources of $177,000,000: total prop erty value. less $11.00 i.OOO depreciation. I amounting to $54,000,000: current, as sets. $72,700,000. of which $11,000,000 is cash: total current liabilities, $9, 600,001. and working capital in excess of $63,000,000. Reserves of $1 ?'.000,000 are set up and all inventories of raw mate ; rials as well as all contracts have been written down to the present market. 1 i n.dditi ,i a, total of $43,000,000 has been I provided for adjustment of inventories and raw materials not delivered. The new issue of first mortgage bonds j is closed at $30,000,000 and the mort gage provides a sinking fund to retire $750,000 par value every six months, be ginning on November 1, 1921. by draw I ing by lot at 120 and Interest, thus re tiring the issue by maturity at a pre i mlum of 20 per cent. All bonds re deemed by the linking fund will be can ' celled and cannot be reissued. . ^ Average Bond Prices April 30. I?JI. V ester- Vet Week day. Change. Ago. t>ee.:tl It flail* 72.31 ?.01 73.41 73.43 10 Industrials 88.<U H .OR 88.5:1 8fl.t:i !S Pub. ftll rt?.45 ?.07 B.V87 (SO.07 8 Foreign 03.47 ..TO fi0.8< 10 Rondo 88.13 -.06 78.07 78.30 V / BOND NEWS AND NOTES. >l*rket More Active. More interest was displayed in bonds yesterday and accordingly price move ments were more signuleant than they have been for several days, liberty* and one or two rails and public utilities were heavy, but the market a-s a whole gave a good account of itself. There was brisk demand for foreign governments and foreign cities, in which advances of as high as a point were recorded. King dom of Italy 6'vS and city of Zurich 8s were again active at advancing price* and buj ing of Japanese bonds was on a large scale. The most active rail Issues we e St. Paul convertsb!e 4'-j?. Minne apolis and St. L,ouis refunding 5u. Read ing general 4s and Pennsylvania issues. D?law?re and Hudson refunding 4s ad vanced fiom 78 to 79 and there was a sale of Iowa Central 6s at 70, or '.j point up. Weetern Pacific .Is dropped from 81 ij to 80 >?. In the Industrials Wilson * Co. 6s were strong, ranging from 87 '4 to 88" j. Chile Copper Ss and Cuban American Sugar 8s were strong. Du quesne I?ight 6s were easier. I'Irrce OH Flnanelna. The report that the Pierce Oil Corpo ration was negotiating with a local banking group regarding the sale of * 1 .,000,000 debentures was current in bond cltvli's yesterday. Goldman. Sachs & Co. and Lehman brothers handled * previous issue of $15,000,000 of Its pre ferred stock but executives of thOM i unking houses declared that they knew notlvng regarding the proposed Pierce Oil issue, Consequently the report went unconfirmed Riiaton Mnkea Atvartl. The tr> asrroi of Ili? ? city of Boston : as awarded >3.1!*.".000 of eity of Bos- ; ton l<>ans. consisting of $2,940,000 of jvr cent. serial bonds and $325,000 of t ' , pei rent, fifty years ?inklng fund l onds to a gnotip comprising It. U Dc ,?? Co, Ha rls Korbes A Co., K?labrook Co aM Merrill, Oldham ft Which i bid 100.576 ;ind s,-> rued interest for both Vpn I* I tin ii i'I it k Hepiirt l)etile<|. A report furrent in Wall Street that he International Paper Company cr>n emplu ted new financing was denied ? ?terdny by Pt.liip T Dodge, president I f the company, who paid ; "Ow ing to iresenl conditions the rompnny is a i airly l,eavy borrower n' the banks, but j o note issue is authorized or content- ' liiteri." Humor bad it that the mm ? n;. would issue <10,00n,0ii0 .,f short i ? rni note* in i i;m en e of its ban!: TriicHnti Ho ml* tn Hp Paid, \ott< thai $.v0|on.(iAn .)f M'lwaukee, 1.?ke Nliote ?pi| ^Vestei ti RmIIwsv Com an? consolidated first mortgage bonds, >me on 'May t. IhCI. outstanding, will be ?ild at the r,f,'lc? of the Chi ago and N'.srtliw'e?tern Hallway on or after that ? to on pres'-ntaMon, has be n received 1 y the New Vork Stock Exchange. t lies Auaril Issnes Th' treasurer of the city of Spring iield. Mass.. awarded yesterday a tem porary loan of (400,000, dated April 1 BONDS IN STOCK EXCHANGE WEDNESDAY, APRII. 20. 1921. 1921. 1920. Day's sale* $10.987 000 $20,661,000 Year to dale 893.117.000 1,191,800,000 1919. $12 374.000 1.028,780.000 Closing. Bid Asked. 89.10 89.20 87.20 87.40 87.26 87.34 87.30 87.40 87.20 87.30 96.00 99.00 90.20 90.30 87.34 87.48 97.46 97.48 97.46 97.48 Yield 4.17 4 85 4.92 5.12 5.22 5.80 5.35 6.80 4.80 RANGE OF LIBERTY' Sales (In . 11,000s) 088 3^n (1931-47) 93 3\as rc-t 3 1st cv. 4a (1932-47)... 2 2d 4s (1927-421 10 1st cv. 4'is (1932-47) 1,041 2d cv. 4Us (1927-42). 19 2d rv 4 l,*s reg 4 lst-2d 4Us 1,1)1 3d 4U" ?1928) 5 3d 4Us ref? 2,470 4t?i 4U(1933-38)... 32 4th 4Uc reg 1,601 Vic 4%s (1922-28)... 7 Vic. 4**8 reg 218 Vic. 3"is (1922-23)... BONDS. Open. 89.70 89.50 87.50 87.34 87.50 87.50 87.30 97 60 90.58 90.88 87.66 87.46 97.48 97.40 97.48 Hiarh. 89.70 89.50 87.50 87.34 87.50 87.52 87.30 97.50 90.58 90.38 87.68 87.46 97.50 97.40 97.4$ Low. 89.32 89.30 87.50 87.34 87.24 87.28 87 30 97.50 00.00 90.38 S7.30 87.30 97.44 97.40 97.46 j^ast 89.32 89.30 87.r,0 87.34 87.56 87.30 87.30 97.50 90.16 90.38 87.34 87.30 97 46 97.40 97 46 Net digs. ?.38 ?.20 +.10 ?.06 ?.14 ?.16 ?.04 + .50 ?.40 ?.12 ?.20 ?.10 ?.04 United States, Foreign Government, Railroad, Industrial and Other Bonds. fit L ft Iran M 4s French Ken 3 08% 4 98% 1 98% l.slO . .98% a 08% 2 98% 1 .98% 10 988* la 98% 0 08% 10 98% 4 98% 8 9888 City of Bor deaux <s 1 79 C!t,v of Mar seilles 6? 78.V < biiean Gov Ss Ccrro dc Pasco receipt* Copper 5s 4 99 4 107% San Paulo m C A* O cv 5s W certificates 2 82% 10 974(1 13 62% CblneaeGovt It Chtm 3c O 4Ht> 7 471a 1 76% 61a (712 Ches <ft Ohio 4 48 j B1gSandy4s Japanese I st 4%i' 1 07 1 ,824( CBftQ Joint 4s 1% 82% 324 99 1.. .slO.82% 110 09% 261a 83 | II 99 22 83 I 10 9918 1 827g 9 99 5 8314! 10 .3918 2 83181 (' BiQ N?l> 4* 31 83 | 1 #884 City of Pari1* 6> Jspsticee 3d4%? CblftEastlll Ss 19 9734 27 977# 8 97%! rmtedKlruMm I 5Us 1921 2 99%! 12 993g| ?82;>i 82% . . S27g .831g .8314 83 1 99% j Japanese 4s 9 99 5-10 16 993g ( 5%s 1922 i 7 9518 1 OSUl 1 9518 1 95 1 9514 6 9518 1929 4 89 .8.834 8684 1 la 67 30 8fl78 12 87 5 8714 1 87 ia 66% 3 87 10 8714 6 67Sg 2 071a ?a 6 .88*81 14 67% 1 *83ii Tokyo ii 10 887g I 4 60 12 88%' 6 88% NY City i%s 87 1 8878: 2 92 3 . 89 NY City4%"s?0 Ota 1937 I 2. 88 1 84%' 2 .84% Adams Kip 4s 1 84^8 1 67 13 85 j Alaska (lev 6a Belgian Gov 8s | Series A receipts ! 1. . . . 15 2... 9778'AroSmeltft R 5s 1 98 | 4 781a 6 9778' AmT * T er Os 4 98 3 977g 7 98 2 9 8818 10 ?8 stamped 39 88 178 Mtg elf 20 S8I4 CbIA Kast 111 4s certificates 10 29 10 287s Chi Gt Weit 4s 2 50 1 6OI4 1 60% 1 s7 . .50 1 sola CMftStP cv (to 1 63% CM A St P cv 4%s 1 64% 5 838a 1 83% 1 63i? C M * St P fd 4%S 1 68% 1 683g j C M ft StP deb ,4S 57 registered 7 5712 Chi & NW 7s 6 100% 1 100% Chi A N W ?%s 8. .. 98)4 P.rle cv 4a aer D! N Y Cen 3H? 1 40 | 1 ?S Erie 1st con is | N Y Dock 4s 10 52 ' 1 87 5 521a: 1 871a Gen Etectrlr h NY Gas ELI U 1 100*4 ft P 4s 1 10O%l 1 881a Gen Electric Ss 3 88 1 8884! NYNHftHls 47 4 881at ? 40 3 8(534! NYNHAH4S55 5 . SIO...88I4! 3 41 10 8884 NYNHftH4sS5 Soabd AT. GrTrRyCan 7* 4 40 | 1 601g receipts 1 N Y Susie W 4tjs' SlnclalrCO 7%s 1 101% 1 51 I 10 92% 2 101% N Y Tel deb l?; 8 02% GreenBayftVV :s 91% deb se/ B N V Tel gm 4H? 4 7 s 8ii3 N Y Wcstches', * Boston 4Ms 1 3434 31% Hock Val 4%s 4 72 Hud ft Man rd 5s Scries A 1 85^4 27 651a 1 6584 Hud ft Man adj 3 3fl7g 1 3834 1 367g 42 3884 t3 367g 20 3(?4 10 38% 31 8684 HI Central 5%J 8 881a IU Cent 4s 1953 t 68I4 IndianaSteel 5s 1 90% Interb R T fd 5$ 1965 8 57 8914 Seab A L 6s 1 4714 1 47% 8 471o fc'eabd A 1. adj 1 31% 1 81% l 31 1 at '4 Seabd AL fd 4s .40 9213 92% .92% 9J% .9214 2. . 35 I 4.. -92! 8 Nlag FIs Pwr ?s 2 011a 2 92!g Norfolk Sou 51 27 92 4 41 BoBellTftTcl 5s NorfftW cv ?s l.......S17s 1 1013s; 1. . . . 811g 8^ 101 1 81% NorfftW div 4s 1. . 8tla eouthPac cv <* NorthernPnf ?s 5 75% 10 7512 2 76I4 NPacStPft D 4s 10 78 Nor States Pwr 1st 5s Her A 6 77la, N WBell Tel T. \ ^ .?Plg n op I ...9914 .. 99ia| 1 9s i . . 93.8' 11 98U .. .99% 1 981? | BelirlanGovT^nl H 99% CftNWgm 4a 7 97Ul S3 99%: 1 7334 1 97la!AmTftT cl. is Ch ft NW H'-js 3 97U 3 971gl Belgian Gcv 6? 1925 90% .91 821a 1 0."'2 1 .... .82 i Ci-NW Mi 18 pa 3 S2I3I ft N 4k 6 82 | 3 75lg 2 821a1 Chi Hys 1st 5s 1 82 ! 5 S? 2 S21gj2 1 68I4 AmTftl clt 4< 1 861g 5 791a Chi Bl&P fd 4S 3 79I4 6 661a 1 7913 ThiatPM&OS* Armour 44s j 3 82U 1 79% ChlUnStn 4Ks 2 79% 12 HUa S SO I 5 81% A T ft SP cv 4s j Chi ft W Ind tl 1863 1 59 1 791a'CbiieCopper 7s A1 ft 8F gen 411 2 .9434 5 70%! 1 94% 1 76% Chile Copper as "21g 3% 78% South Pac Id 4s 10 75% South Pac 4s 1 68% Southern Ry la 1 .S3 1 8314 3 83 South Ry gni Is 3 67% 1 57% 99lgl 1 67% 99 | Ma Oil Cal 7s 99lg receipts ... 99 j 9 102% 4 102% 3 1021a 1 10234 2 1021a 1 70l2'St*e!ftTube Co 1 70 | of America 7 s Pad&c Gas 5s 10 9412 0 70%! 3. ?6. 94 Pac Tel ft T 5s ThirdAv adj 5s 1 85 | 2 3Ua Penna 7s | 2 31 2 101 : Third Ave fd 4s 1 101 ts1 2 40% 10114 'l dwter Oil #4s 2 99lg 1 99581 Ore Wash ItR.V Nav fd 4s 10. .9234 .73 9Ug ItalianGov SHs 10 . 85 :? 85% 3 86 Danish Gov to certificates 2 99U 10 99 3 99U L'an1t!i Coo Municipal 5s certificates Series A 2 981a 3 98141 6 78% 9 9813 1 76% certificates I 1 767g Series B ATA8FR Mt 4s 6 98UI > 72 2 98% A(lantlcFrult7s I 1 73U 7 9814 1 68%! 1 73 City of Copen- 1 58% 4 72% haven 5Hs 6 56 j 5 72% 8 74% AIIKeflnlng4Hs j 3 73 NorwasGovli certificates iGCCftStL 6s I......10018 25 99%' 6 86I2 1. 100 16 99%! 1 87 j lOOIg 7..... 991a COC<*8t L Cln 1 100 2... .99% w A M 4a 4 10014 Bait ft Ohio R?< 5 651g I 6 88?8 Co o In co. (r 6s ' *?'s 2 ?'? receipts 4 _ ^ Co, 8o ?t L- V,' ?Sl? I b ft O 5s 1?9J 1 73% 8 67 ' 1 73% 1 #7lg' Colo South 4s 1 67 j I 81 1 6c>i4! Con Gss l-yr 7* 5 #7% 2 IOII4 B ft O cv 4W< ! 1 101 lg 1 68 | 3 101U 1 102% HII31 Oib A Sugar *s 4 6634 2 C'(% 8 "'O'g 5 5884 4 66% 22 5634 2 57 87 58% Intcrboro - Met col trust 4Hs 12 18Vg 5 18% 1 181a 15 18lg 1 lsia certi Scales 10 17 f> I?l2 ? 16 1 K.I2 lot M Marine 5s 4 807g 5 8034 1 80% 1 80% 5 10114; Tol 8tL ft W 4s Iowa Cen 1st 5? Penna 8%s i 3 48 69%! 6 95% 2 48% 9 . . 95% Tor HanuS B 4s 2 ?.",?? 1 70 14.. . ... .95% Un Pac 10-st 6< 5 9512 1 ? -98% la 96 I 1 .98% .96 I t'nionPaclflc 4> .95% 7 80 .9,-.la t'nlonPac cv 4s .95% 6 84 .95%! 6 83% Laclede Gas 5s I'enna 5s 1(58 2 84 4%| 1 84% HnlonFac fd 4s .101 IOH4 . 10118 .101 I . 10118I certificates 1 951 a II 9534 2 .953, C 70 | Kac C 80 fd 5 j 1 74%' Kan City So 1 18 66 j 1 557g KanCityTer 4? 2 71% Lack 8ti Is l(2i 94% %. l.ake E ft W 1st I 2 . . . .84 5. .C. ...82 | 4 84U LSftMS 4s 1M1 . 1 s4% 1 8184 Kenn gm 4H? A L 8 ft MS 3%s 1 78% 1 68 1 76% Lehigh Val 6s 5 76I4 4 97 4 78% L.V of Pa con 4s Pa 3%* 1937 A 2 69% | 1 70 Liggett ft M 7? I Peo O ft C fd Si III 106% 1 71% 10 I06% phlla Co cv 5i Liggett ft M 5* ! 1922 1 837g | 9 .03 I. A N So M 4s p Lorlilard 7s City c.f Chri? tlanla *s I 2 96 ?g 3 96% Swedish Gov 6t 1 4 82% Swiss Oov 8s [ 237Crt.Ptl"04 Ba'ltftOhio 3%? 7.::::! k.3% 2 65 2 64% Manfaat Ry 4j 4 58% 6. .55% 1 66% 10 55% Mex I'et of llel conv S3 when issued 12 98% MIchStateTISs ? ...8V% 10 10. 10. p . i08ia 106% 106 2 747S 8 75 I'D Tank Oar equip 7s 1 100% fi 100% I IOO84 On BR IK fd tea J rust ctr? 7 30% rnite<tRylnv5s 1 09 CSRealtyftI 5s 2... . . .87 I S Rubber 7^i* 11 101% 9 101% 5 . 101% 6 101% U 8 ltubter 7? 1 103%' 2 103%, CityofBerne ?j 7 96%' 3 98341 1 07 | 5 96%! CltyofZurlcni? 1 81% Bsitftosw ?i?i; 2 77 1 2 70%; 3 77% 1 B ft O P I, E ft i WVili 6 64 96% 4. . . . .97 4 96%' 4 97 I 7 97I4' 1 97% j bmranadaS1** 1921 7 99%' I92t .10034 .10012 ' .IOO01 3 100% 8 100% 1 10O% 1 101 Cuba Cane 8 cv 1 83U 9 83% j 2 Ml 3 I 103%! Cuba R R 5s 4 lOOs 2 72U 4 103%) 1 7IU Beth Htl ?s 1934 Dei* H gold 7? 1 78 I 3 101% ? P.klnKdsn5?A iDclftHudcvSs 103%' 10 17*. 13 8. Bkn Rap Tr 7.| 3 niiol certiBcates 2. 3 . 43 in-n * [<om Canada fs ?2 - ? ?'a W ?124 91% 9138 Bk!nEdan7s<' 1. : OelftHud fd 4s 1931 .91% K 44 As ...08% Bkn Kap Tr 5^ Hen ft Rio O 4s 2H% 5 . 81% Bkn llntlas 1st 5 65% 7% DenftRUfd5s BuabTermnl 5? 2 4rf% 1 6> 10 4U7g Bush T Bldg 6s 2 44 3 7434 Del. Tun 4%s < an Nor Ry 7 4) 4 7 514 2 101'jg Uuquesne l.t. 6 9 101% 8 89% 1 101% 1 891 g G 101% 2 89 CBol Mexico 4s Cent Pacini-Isi Erie gen 4i I.... 37 3 7234 15 40% 10 36%' 8 73% I. ... 40% 10 36% 6 72% 5. 40% 10 36% Cent RR NJ 5s Erl 7*exlnrie<l 5. . . 36% i 8 97 I I .. 98% Lon la d 5s 4 84 lg 1 09 Pitts Cln Ch1 ft 11 S Rubber ?s StLeenSsA 14 78% 1. 82 | 2 787ft Reading gm 4* 10 78% 1 77.V H 8 Steel sf 50 77%' 12 95% Read JO elf 4s 3 95% 2 79%' 13 95% Mldvale 8(1 5s R)ArkftLa4%s 20 95% 25 77 I 883s Vtab Power 5s 1 1 77% 1 66% 2 80 MlnnftSlL>fd5s ^(LftganEran 1. 80% 1 41 %i Series A 1 80 7 41 5 80% VaCarCb sf7'i< 12 40% 7. 60%. 5. . .91% Minn ft 81 L 4s, 2 ?o% 6 91 6 40% 2 60%' 1 91% Wo K ft Tex <1 7 6O84! 1 . 91 1 68% 2. .80% I . 90% 1 58% ?tL* San Frail Virginian Ry 5> Mo K ft Tex 3d Prrles B 1 81% certlflcatw 1 4 72%1 1 .82 6 37 '14 72 2 ?10 .81% Mo Pac 1st cxt StL ft SanPran Wabash 1st. 1 75% adj 8s 5 85% Hf> Pac gtn 4? 1.3 WesternElec 5? 50 53% 3 82% 6 . . . ,96% 10 53% 7 83 Weat M<J 4s 3 . . .53% Ft L ft Ban Fran 2 53% 1 :53% inc 9t WestPaclfl<- 1st Mont Pwr 9 47%' 1 ? . .81% 0 84 1 . . . . .47% 4 80% 1 84% 4 47% West 8hors 4s Nat.By Mas 4% 2 47%: 6 70 7 23% SIIjOUIrSW irt West Union 4Hs NO ft NE 4%s 5 80% 1 .67% j 1 6".% NYChiftStt, 4s St I.ouIsS W 5s 9 90% I 2 90%' ? 2 90% I 5 90 I rief Mexico Si 6 47ftgJ 6 79% 3 79% N Y Central 7i receipts 3 100% N V Cen deb 0* 3 10 68% .88 8812, 6S1? 1 88% 88% H ratlngliae is 1 99% 1 .... 99% 3 99% 1 99% II 99% 5 99% 09% 881-, fltl.SW con 4s WllaonftCo l*i .88%, 2 823g 1 883,;; 1 82% I 1 88% StP MA M 4%* 1 88% 5 87% I M% S r M A M N Y Cen con 4s Mon ext 4s I 68 ? 81%! .87% ,n8% 23. ,C . ... 88% Alison A Co cv and maturing on November 10. to Salo mon Hrothera and Hutxlei mi 5.79 per cent. discount phis $1 premium. Melrose, Macia.. awarded a tempiirary loan of $50,000, maturing: on November 21, to Harris Forbes & Co., at 5,93 per eent. olscount. Troup f'nnnty offrrlnK. Harrison f- f'o. of Philadelphia arc offering $t00,000 of thirty year 5 per Mnt. highway bonds of Troup county, Ue.orgia. LEDERLE ESTATE GOES TO COUPLE'S DAUGHTER Wills Filed of Ex-Health Commissioner and Wife. The will* of Bnint Jos' ph Ucdcrle. former Health Commission!; of the City of New York, anil his wlft. Margaret Taylor l.cdePle, were filed y< sterday In Brooklyn. Mrs l<ederli died K>'liruarj 15 last in her home, 4R5 (irrcur avenue, Brooklyn. She left an < -state of #75,000 In i>ervm<nl propertv A Irust fund of $50.ii0(i n hh crimed for a dMiu'lil. r Mar\ Taylof L-derle, of 455 (irfWi ave ntte, Brooklyn The remainder wrr be queathed to Dr. I.fdrrlo. Me dted March 7 last at Coshen, N. V His eslate also was given ?* *75.000 in personal,", lie left It all to his >? Ife If alive, and If sin pre-deoefcS''d hltn lien fo his di,lighter, Mary TKv lor t<edfrlo. Tin exenifor of hot'i wills is William I, Mellon of Pittsburgh I. ??. ? *R'HIP? l"OT| rnt l,Ot. Tot'i.nv, France, April '.'0 I he A ,ier I "in cruiser Pittsburgh. flagship of llcar \dmiral Nlblneft, and the tor,iedo boat j destroyer Cblids ?*? r*pr<t.d loOirlv", hefe naxt, Monday for a two daj^? vlatt. AMATORY LETTERS BRING $3.75 AT BARGE OFFICE Three Girls Hopeful as They Club Together in Buying. The annual sale at the Kargc Office yesterday <>f the effect* of mw*ing ami do til .allora drew firtft persons, including thre? girls In pursuit of amaton litrra ?uie, who clubbed together and bought a satchel from the broken aide of which -everal Iarg<- bundles of letters pro-' r uded. The} paid $3.75 for the letter* alo1 e. ns they admitted, Itut they de clined to <-;?? y whether tlirir hope 01 finding: aomo nnpp\ love nti?aiv<n was fttlflflcd \ collection of Kuropeafli Chinese and Russian coins wan nold for II. Tin face value of the coins was about >100. but Asn Mitchell, superintendent of th* Marge (iffloe, who had chirl* of the ale. said that the p- Nent value prob -iill>? would not bo more than one Ameri can bone. FTNI ANT) AT SOUTHAMPTON. W III Be Mrimlrril and "nil for Nrw 1 ork on Mnmlny. Hotrru AMrroN. Kiigiand. April 20. The lied ft ir liner Finland, Which put Ufi.'k to thi.-- port after breaking hei crankshaft 8unds?j when fiOO nl'ea nP the Krench ? onsl returned hi re to-da." I The vessel, Wllfch billed Aprl' I "< fnt New Vork. expei t? to mak' rep'lrn and resume the vinajre fundi; First clifs passengers on the Finland Who lime pressing business in the United NtSteS, howeveij Will K.'lil Sfilir da> on the Aqultanls. NEW HAVEN VOTES FOR A BIG MERGER Subsidiaries t<> H?i Taken In? Objectors ?t Meeting-? Directors Reelected. Nkw Havtk, Conn.. April 20.?Ftve questions before the stockholders of the Now York, New Haven and Hartford Railroad, in session here to-day, were carried by overwhelming votes. On the proposal to merge into the company five subsidiaries, the Central New Eng land Railroad. Harlem and Port Chester Railroad. New England Steamship Com pany, Hartford and New York Trans portation Comvany, and -New Bedford, Martha's Vineyard and Nantucket Steamboat Company, the vote was 913,871 shares in favor, none against. The vote was the same on acceptance of the annual statement of the road for the year ended December 31, 1920; on rati fication of an agreement with the di rector-general of railroads in regard to equipment and on refunding a loan placed in Europe in 1907. The board of directors was reelected, the vote vary inn between 913,999 and 913,949. The directors are: T. De Witt Cur ler. Philadelphia ; Edward Milligan, Hartford: Francis T. Maxwell, Rock ville. Conn. : John T. Pratt. Howard . Elliott. J. Horace Harding, New York. James b. Richards, Joseph R. Russell. Boston ; Frank W. Matteson, Providence; | Harris Whittemore. Naugatuck, Conn. ; j Walter B. Lasher. Bridgeport ; Edward G. Buckiand. Arthur T. Hadley. Ben jamin Campbell, and Edward J. Pearson, New Haven. President Pearson said the road's op eration was abnormal in many ways, and referred to had weather and "out law" strikes. Traffic was heavy in the summer, but foil off decidedly In the fall and a corresponding reduction in expense for labor and equipment was made. Reductions in the cost of main tenance cannot be continued Indefi nitely. he said, and the wage question is before the railroad labor board. The problem of the New Haven vo?ri. he continued, hinges en the handling of 89 per cent, of its freight below cost, and this has been put up to the Inter state Commerce Commission for ad ustment. He said the first endeavor of the officers must be to retain the solvency of the road and retain the hop" that there will be a resumption of dividends. Hagop Bogigian of Boston asked if the public had been informed about the loss of dividends. He said the public thinks stockholders are still getting 8 per cent. Mr. Bogigian attacked the directorate of the road, declaring they had mismanaged the system. He said it was "hi?h time for them to resign." Mr. Pearson continued to defend the directors and Mr. Borigian launched more attacks at the directors, officers and bankers connected with the road. A. Maxcy Miller of New Haven backed Mr. Bogigian. He said the pension fund of the road should be cut In half. Morris Spier of New Haven joined in an argument with Mr. Bogigian. Mr. Pearson intimated that Mr. Bogigian was an enemy of the company and the Boston man replied that he paid $190 a share for his stock and had more right than the president to inquire what had been done with it. Mr. Bogigian went through the list of directors and ex pressed opinions on each of them. He said that five of the fifteen direc tors knew what the> were doing. "The others represent interests that are try ing to put the road Into receivership," he said. Jl'GO-SLAV BANK If ERR. The Superintendent of Ban.-s has is sued a license authorizing the Bank of Jugoslavia. Ltd., to maintain a local I agency. On May 1 the agency will be 1 opened for business in 25 Broadway. I.othar Berks will be it? agent and Leo forger its subagent. Chicago, April ".-Wheat took an xrfn 5K the J u'V deliver>^ touched asrHwA55 rs.VS.?''?u"t^,v?S. Lnd'o^i^e?to 2c. Pw Won. closed ^Bc ^cHne to ^ advance Estimate* we?.f ?rr 000.000 bushels wheat crop "ou d be 100 uo?.? t under last V?r ?' ?"rt .^,tead of an ex would he anjrn^^ ^ drought and porter. It was ' , had been gen other adver.e condit onB ha . ^ ^ eral throughout India, a dis PunjaK the most down half. tr'ct. theHy0te,cdr0p?U?leter1or?tlo? reports Domestic cr P ^..fhwest were con TSZXtSSX&l ??r ch.?: done little dam*fmulate active buying. ;rdfhra~?w?.??. ~rt" ? ftpS- ?r;od?"<1 ?3 pendent atrength to corn. firm in sympathy. afler ] Provisions rallied witn j being depressed by lower CHICAGO PRI< wedne>- I WHEAT- ? uiirVi r.ow Clout*. day i ? V ,1 12o\ 1*> }?* s May ?-? * ,051i ioi>4 100% 103 , July 1 J CORN- r,n. :,6?? f'fi'V ??J? May ?"3 M'i ?2 i ^ | July e4i,4 61 Vi h** 4 I September... ? ?-? OATS- 3R 35* ?!? : ?,* i May ??? :wu 37V? 89* '" V | July.-- ?,? 40 38H ; Septembei. ? ? -18 * X.ARD- nT0 9.45 l?-?5 May tolio 9 90 10.05 10.10 July ? RIBS- , 8S7 S.85 ?.*T *?' M?y ;;; 9.0b w ??? 520 05 w.w w.? u.? ??*>??? Kxport sales ?f,"bushels terday small, on> worked. The ad" of Manitobas being business, bids vance in futures checked busines ^ ^ being ?e"el'aUi'??"L there wns little suit of ,the dli "etnlunis. Canadian chantfe in Qulf P ted as slightly premiums were h?wed considerable easier. The \?de ?^whlchdeclared interest In the cab'e ^hlch^ ^ & that India s crop country might large decrease tha hv haVc to nol export wheat and^m^ import giain. - 10 000 bU3hels SOo.OOO bushels, anu oni> of rye w?re sold. NEW YORK PRICES. WHEAT-No 2 red .$ulfobV. tra'r\-~ New York to aitU'- ? ?.htte 82c., 1 rORN-No. 2 yt'llo" *"d ? ,? f N>.v York, and No. 2 mixed at 81H ten day ?hlpment. white. 61c.: fancy clipped white. ?' - (,lf.valor. C'RVE?No 2 wester. tUMi <? b' ^BlREEY-FeS.^?^. malting. 73? 79c r. I. i- M; NO. 2. *l.35?1.46: BCCKWHEAT - sound milling. ?- *"<? ?.sr, 100 pounds. STHAW-No. 1 rye. *20<8 ? 'on interior receipts. Wheat. Corn. use. ooo 30R.0OO ?,8-'-00"' Yesterday ???? 3(10,000 28^.000 l-K't week m0 328,000 Last year 4-j.w OEAliOARP CIEARANCES. Flour. WhMl. Corn. i?rt OOO fi^i .000 Yesterday . >H OOO 311.100 H" .000 LH:! S?v:.\v: M ? El-OCR. MINNEAPOUIF. Aprll^ j f,m clianged to 10c 'o"el- JR iq?8.50 a barrel lb Patents quoted a^ *8. K33-7:5 In 98 pound cotton sacR" barrela. F,\POHT? FROM NEW YORK. Exports from New York ye^clay: Rve bu. 12,000; bacons, lbs.. -.019-"^; . * ,V\? ?? 813 624: hops. bale*. 58i. ,?rd. lb... -.813.H" ham'B lb(| 114,500; flour. sat ' -op. cottonseed oil. lbs. 440J900; lubricating oil. gals.. 50.950. BID AND ASKED QUOTATIONS >. V. STOCK EXCHANGE QUOTATIONS. To the following prices accrued interest 1* to be added In every case. FOREIGN" BONDS. Bid.Asked. City of Bergen 8? rets 96 W>4 I ?> of Bern >*};> City of Christian!* J":''* ?'ity of Zurich Argentine Intern. 5s, 1945 jO/4 Belgian 8s, ......... 97 97 4 71* !?N PI'i Kingdom of Belgium ?s. . .. . .... 00 V Kingdom of Belgium IMS. 97 Canada. Dom. of, notis. 1921.... 9!'j Canada, Dom. of, I&2H J)' Canada, Dam. of, 1028 Canada, Dotn. of, 1031 Danish 8s Danish Ss <'* Denmark ? ? ? ?? Ch!r.e.se Gov., Hu Kug By. ??. ?> ,' - Norn ii> 8s ><*}* Culia Extern, r.s, IB 14 - . SOU Cuba Extern, ft*, scries A. 1949... ._9Vj Cuba Extern. 4V.s, 1UI9 ;0 Republic of Chile 8s.^ 98 Dominican Rep. 5?. H?#... ? *' City of Lyons .13 yr. fts, 1984.^... <**? < !ty of Marseille# 15 yr. ljXU.. ^M% f*;tv ?f Bordeaux 16 yr. 6*. 1w34.. 78% < itv of Copenhagen 25 yr. Mi*, 44 74 FreiMh Government Hs. 1st iesue.. OBN Ft cncii, Paris City 0s. 1921.. ?7V (,oV. of Switzerland 8s. 1940 103J4 Jnp Gov. 414*. aterl. lo?n. tl?? .. JCT Jap. Gov. 4',a. 3d *-t . 19a.. . . .lat'. Gov. t? sterl. loan, 1081... .InpaneM. Toklo City f?. I9.%2 t . K. G B. * I. 6 yr. ?>.?. 10JI. I K. G. B. *? I. 8 yr. &>,??. 1922. I K. G. K A 1. JO yr. 514*. 102? V. K. G. B t I. 20 yr. I?n Men. Extern, atert. >s of 99. 1R4? \t. I'vicrn. gold 4s of "04, 19..4. K'rvc ..f Italy f. yr. #V4*. gold.... Han Pa ilo 8s . 97',, 9.'. UNITED STATES GOVERNMENT BONDS. Bid. Ask.I Bid. Ask. . 99% 100*4! 1* P '38 c. 99*4 im'4 99% 100ti|'Is Pan rrg 79 81 104*4 104!>i 3s Pan opn 78 81 104VP I 4s '34 82 88 IOO'*|P 1 4s "35. 82 88 I00'?|P 1 4S '38 82 an 100'4ID C 3.85s. 92 97', 9!l*4 91 % 92',4 IMi 98 S 98'4 99 Si 4H 1<?>W 81 81 99<4 SI 70', 79>4 79 W 74% 08'/, ioa\ 82?4 H7% Hs-', 84% 47'4 ?7% 2s reg. 2s co?.ip 4s rrg. 4s roup.. . 104*11 2s r '38 r. 99*? 2s P '36 c. 99'4 2s P 38 r. 99% Closing prices wore no transact Bid. Aria ins Ex 29 Art' R pf.- 50 Mi P.ed.ict Alh t 8us. 129 Alliance 11. 70 A A Cable. 104 A1 Cli M pf 77\ Allied C Pf 88 AmalKg 1st 9*i A A Client. 47 do pf.... 7.1 A Rk Note. do pf. 47'. Am lit f> pf 70 Am Bo?rb. of stock* In which there Ions yesterday Ask. :10 :.i 37 l.V> l niiti 78 90 |im 19 so Bid. Ask. At C'oa?t I. 7* 79 AGtWt pf. 81% 3I'? Allan Pet.. 1? 1714 llefln .1000 1050 Am T1W ?!, 48'... 49'4 do pf..,. 90 92 8in Can pf 83 8ft Am Chicle. ?! 2' Ain Cos l V> >.2 Am Cot Oil 21 21'4 do pf 8:t ?'? Am Expr. 121U l!5V Am 11 A I. 8i/, 9 .In pf.. 43 11 Am Intel 41", <"'4 An. Mn pf 77 84 \ t,oco pf io% ion \m M # G !0 Am Rsdlat 70 do nf .108 \ Ml !? '-I.lg do pf 71*4 ??????MH A SlEdy pf 8.". Am Snuff. 101'. do p'..,. 7r.'.. \ Pi'niT pf 8", Am Tob pf W do 41 113' Am To,AC. ! A Wltol pf " i \ Wool pf 9fi'4 Am 7,inc pf 28 Ann Arbor 8 do pf , ir. AT'ryG 1 pf (12', * ?it 2.1 pf. ,*'? ^,?td oil.lim tA't At Htr * A 3% *0 ?8'j 8-'4 do pf Atlas Tck Ans Nlch. do pf. . Aulo Sale* llsld 1. pf It * O pf Barnett 1,. do pf BarnsdallA B"e. li Crk Beth M c rteth f*i eel 32 do *" do 8?[ 10.", Booth Fish l do 1st pf 2^ 111! Edison. 92 It R T ct Brown Hh do pf.,. riuf *? s.is do pf. II Bur R * P nji do pf. 8" llurnsB pf.10.", Bush Tern- ?' Can >'outl: > Case pf... 72 Can" PI pf. 71 Cl'.RofN.I 1*0 C'crt Prod, do 1st pf 70 do 2d pf (?NW pf.ioo C Pneu T. 8! C Ft P < i"' -?? do pf.. 8(. f Rt#P 10*4 17 101 ?1**4 2'4 3 33 89 I04t. 33 flH't do 70't. 100*4 7T ? CIS' *P1*tS. 53 CI Peabody 11% do pf.... 83 cm Ftiall I ?8 do pf 97 fol fo ?rf <4 t'Vtmp Tab. 35 108 41 38 Bid. Con Cigar. 40 do pf.. . 66 Con Can yf 80 Con (naur. fil CornT'R pf.tO:i CrexCarpet .10 Cru 8tl pf. M Cub A S pf Pl'? Davison C. 24 D I, <t \V.200 Me llwr> . 17V4 Dct Krtlnon 80 DetAMack. AH Det United 63 Dlam il M. 107 Dul SUA 3'4 do pf.... 0 Durham H 22 do pf.... 8," Elk H F pf SWA Blec 8tor..100 Kmcr B pf 2.1 K.ndio J pf. !M> Erie Ipt pf. lR'i do Jd pf. 12% Fed M * 8 7 Falrbank* 31 Fi?herBody 87 do pf.... 97 Frept Tex. 15 0 Aspli pf P8 Oen Oig pf #2 do d?-b pf 78 r, A Tank. 4B Hen Mot pf 08 do 6%.. .. IWX do Tfl'A Gllttland pf *5 (Joodr'h pf 71V4 < Jranby ... 20U Gray * D. J3'4 ?tNOre ct? 28*? (Sunn flu*. 12<4 Gulf Steel. 28 do Ut pf 72V4 Ttablra El. in Ffartman... 70 Harv pf. ..104% Hock Val "7 llomestakc N 1 fydral 811 M<4 do pf. . ,. 4.1 Ind Ref pf . Indlahoma. 5*4 lnt Cemant 2.1 Int N'lrk pf *2 lnt Pap pf I?4 lnt Hall. . . 4!> .Jewel T pf 20 ?l iriPi Ten. 81 Kayaer ... 7214 do l?t pf Mtj KS-pTrt<*pf 73 do *%. . . HI Kel Wheel. 40 do pf. . so Keo t D M ? 110 pf.. . 20 Kreeee SPI?f.'4? do pf W?n Kt<??? s If. 77 do pf.... pn T.?i-|edef5*? IB T.ake E?W 1014 t.ehlgh Val 48?, t.ia * M 136 do pf,..,ino do n . . ini T.ima Ijnro 74 <lo Pf out Lorlllard 14s do pf. . . . I021| I, W i?t pf 00 do 2d pf no l.oul. *? V ft* Mnlli?<vi 1.1 do pf. , IRS M?n Beach \ Man Blec 8 . 111 ftf. ... 100 Mnrtln 1*V. 14U "nun- r." do nf . . "0 MnnaH Sue 72 d- of Mm Mm ft.. 7 Malll Ml;. 15i, M?v dp 1.r.iW) Max? t pf "? do ?d r>f M.-v Pet i,f *8 Mlrh Cei > MH' P-:f4M ?0 do ri', . S2 .lo ' I :.l Wn-rl Pit Mor *- IV 04 Mont ft.", .".11 , P'.. *' TlulHno P 2'H do 9I..M 7S>i oiS 1IM 86 100 2H 21 ri IS'/i U7* 70 no ??* 'tk 110 3.1 P." 18*4 1.1't 4<> po PR 1:.<4 HIT. 100 52 r.o H7 77 15 2ft U 1:1% MP', ion. 12H W14 14-. 10". 14:. 7 P4H 1.-0 10-,<4 2H Bid. Ask. nc I Stl,. po 110 Nat Acme. 22 23 Naf Bis pf 100 H5 Nat Condt. IU i", NatEdfcS pf. flo P4 Nat i,d pf 1(H 10.1 NatRyMlpf 8 N O T A M 63 NYLac?\V X]? NYC8L Ipf hi 1 do 2d pf. ,".7 NYOAW.. lfi', NV Ship B 26 Norf South p't NorfftW pf r 1 North Am. .18 Nunnally. . 11 Oh Bdy A B *14 Ohio Fual. 45 Ont Sllvai. 3 ,, Orpheum C 24^4 2.1 Otis El pf. HI Hft Otl* St I pf 68 "* Owen* B pf Tao Coaat 14 do lat pf 60 do 2d pf 40 Pac Dev... ul Tac U*E. 4<n^ Par Mail ir Pac TelAT. 40 Pariaht- H \2% Pnau Stl T. H?s 10V Penney pf.. 86 po Peoris A E pij |t>i Pere Mar.. 17ft 18v* PO 6l" 17'4 31 10% OP till 111* III 48 100 10 10(1 00 14V 4U Kl'i ?7', 50 8?H W, 11B |0% 33 ?76 84 82 8614 PI OR 22 do pf... do p p.. Pet Mill. do pf... Philip J.. do pf Pierce A pf 78 PFWC pf 116 Pllte Stl pf 711 P*WVa 25i4 20% do pf 73 75 Pr ffll Oar 84'4 do pf 88 Pub Serv. 02 Rand ... . 2W4 R"ii * 8a 1 101 Rep M Trk 10^ 17% Rolit Rein. 0 p do pf . 4N ?n R.-ad 2 pf 41 Rem int pf mi do 2d pf 8! Sl.loa 1,1-aii IH4 15 San C Sun. 2H Sav Arm* 13 Seara n pr pit Hlo** 8h pf 7(i 8L#SFpf. 28 Shattui k .",'4 8PR Hiifnr R.% do pf. Stand Mill loo do pf. .. , T". Pti-e|*T pf Ptudeh pf . ^ Sup fVel 'iPw 40 do pf ^7'j Temtoi A 12 do R ;,w Texan 1^ T 20f> ' Tob Prd pf (<01., nt<W p r HU 101^, do p rt Tran?*W Twin City do pf Under" d do pf 4.1 3 15 V4 "O'i 88 .12 70 Hk", 120 78% 7 PO 13% 20 ?IPS 41V . 40 .(p^ 7.1 !>:? .14SH ino .101 120 tfn Par pf ?4'4 r,~, ITn Tnnk. 101 do pf . 08 UnCIc 8t? 120 do pf . op f Dru* Ipf I ! WCIP p' is TV I'tAle pf p.*. USRub Ipf 101 1'iah Sor 10' Va-Caroc ???: Vp T fir 84 V* Ry * P . v Raaiie i,r 7.-. Weal I pf. Ml Air 11 l>1 M "rif mi It-nut Pn. 26 WINon . .. !(?. do pf n-ii Ovii i>f .in Wlwnflli 114 do pf. . 100 Worth pfA 70 ?E* dividend. ins wo 107 14'4 101 U I1H 30U 17'-; 26' '? 110 Elemental Power NO coal to mine, no furnaces to feed, no transportation of fuel for hun dreds of miles by rail or boat?fewer operators and an unfailing source of ele mental power?these are reasons why hydro-electric power companies are among the most successful of public utility corporations. The bonds and notes of such corpora tions are among the best investments today. The security is exceptional, not only because of the excellent financial condition of many of the corporations, but also on account of the constantly growing demand for electricity. Fur thermore, with present high interest rates, a number of issues yield the in vestor from 6.80% to 8%. We shall be pleased to give a detailed description of certain of these hydro el e c t r i c securities upon request. Blyth. Witter. &. Co. 61'Broadway New York tu Fn?rtK? Seattla Lo* Ang?lca Pmllud Sound Economy is not only avoiding extravagance, but fore seeing any loss and providing against it. In times like these, it is the soundest kind of economy for every manufacturer, every wholesaler, to safeguard against unforeseen, abnormal credit losses. Money invested in a premrum for the American's Unlimited Policy of Credit In surance is the wisest money you can invest Consider firms like the Berkshire Cottrn Mfg. Co., Adams, Mass. They write: "We acknowledge receipt of your draft for ?14,000 00, in payment of excess loss under recently expired policy with your company. "We have carried your Policy for 26 years, and although this is the fijst year we have had a loss, we are such firm believers in your system of Credit In surance that we felt it the part of good busines* to carry the protection, being better satisfied to hav* our customers pay their bills than for us to call upon you. "When the loss did come, as it did this year on twn highly rated customers, yoq responded -with the utmost promptness and to our entire satisfaction." Write or phone for the full particulars today. Paymmts H PiikftmUti j mr ?10, OOO, OOO.OO -x. AMERICAN CREDIT- INDEMNITY.CQ Of NEW YORK EM. TREAT, muimnt ???UM STAMDAJIB UMlMMtSD MLtOCS Greater New York Department: Down Town Office: 91 William St. Phone?John 53i-5.U-.W6IS L'p Town Office: 104 Fifth Ave. Phone?Watkins 2403. New York City, N. Y. Exchange Buffet Corporation Stock BOUGHT and SOLD Millett,Roe&Nagen 52 Williim St., New York METALS. On the New York Metal Exchange j y??terday tin was dull and Strait* and ! Strait* jfhlpments Tver# quoted at *lt?31; ) atandard at 30(031, and 90 per cent. At | 28.60?;*). Copper wan quiet: spot, 12.50. i T.ead wa? quiet; New York *pot, 4 AO 1 n*ked, and Ra*t St. IxnjIb apot, 4.IB bid. Zinc was firm; New York *pot, B.OB, and Ka*t f?t 1 ?oui* *pot? 4.flB<?4.~0. April 20 April IB Bid. Aaked. Bill Aaked. , Qulekall??r 14* oo |.".o no Aluminum 23.00 24 00 23 00 24.00 Antimony 5.I2H 5.37'j B.lSH Platinum, aoft >7" oo S75.no i t'latlnuni. Wf Ir ioyiio , I'm on ; 'Platinum. I0<* Ir $105.00 . $10".oo ;Klee. cop., apot.12.00 1 2 7.*. 12 00 12.75 Klec. cop., Apr.12.00 12 75 12 00 12.75 Pig Iron. No. t X. foundry, 2* 50 29.80 2*..VI 2# M? : Pic Iron, No. 2. ?1ll"on 27 50 2*.V) 27 50 2*.r>0 ' PIr Iron, plain, I \n 2 ?11leon .20.50 27 50 28 50 27 50 j 'An onnce, ' liONIKIX. April 20.-Following are the I doelng m"(al quotation*: I a. d. ChaoRea. I | Copper, apot 70 2 fi tip 7a (Id (Copper, futurea... 70 10 0 up Wa Klec. copper, apot. 71 0 0 ' Kler future* 74 o 0 tfalee -Spot, 100 (on*: future!" 500 tone ! Tin, apot too ir. n off n r>? Tin future*.. IflP O off |Oa Strait* 171 15 O off fI .".a If a lea Spot, 10n tnna: future*. .15<0 ton*. 'l<?ei|. apni 21 O (. up 7* Id It.eail, future* .... 21 12 it un "* | Sprlter. apot..,. 2fl O o I spelter future*... 2a 17 ?t off 2* <>d ti^Hi fjRTt ?;nt,i?ro\ now I.. The annual dinner of t'v U'nlted Stat?* Steel Corporation waa held on Tuesday night In the Metropolitan Club. About forty president* of the corpora tion'* *nh*ldlarle? nnd It* official* were nre*ent and adilre*aoa were made The subsidiary president* p.esented .Tudge !?!. H. Clary, chairman of the corporation, with a large golden howl ** evidence of their good wlllVnd eataem. DIVIDENDS AM) INTEREST. Exchange Buffet Corporation 33d QUARTERLY DIVIDEND The Board of Directors has declared a auarterly dividend ; of $2.00 per snare on the capital Mock of the Corporation, pay able April 30, 1921, to stock holders of record at the close of business April 9, 1921. Trans fer books will not be closed G. W. MILLETT, Treasurer. NF.W YORK TELEPHONE COMPANY. First and (Ifnmil Mortgage Gold Sinking Fond Bond*. Coupon* from these bonds payable by their terms on Mar I. 1031. at the office or agency of the Company In New York or Boston, will be paid In New York at the offloe of the Treasurer. Room BTO. IS Cortlandt Street WALTER BROWN, Treasurer. PAMFK' OAK AND EI.ECTRIC CO. I FIRST PREFKRRKD DIVIDEND NO 17. ! ORIGINAL rilKFKRRED DIVmKNri NO. *1 ! The regular quarterly dividend of $1.M? par share upon the full-paid First Preferred I end Origin*I Preferred Capital Hiock of the I Company will be paid on May 1S. 1P21. to , ? hsr^tvoider* of record st close of btMlnee* April 30, 1M1 The trenefer brx-k' e|11 not ; >ir rtoeeil and checks will be mall -d fr .m the | ifflce of the romrany In Mme to rn*ch ! ?torkholdera on th? date they are parable. A F ITOrrCENREAMHR. VIre-Prealdent A Treasure i San Frsp'-lw n, i'allfornls rVITF.n (IGAR KTORES COMPANY or AMKRHA ' COMMON STOCK PIVTT'F.Nn NO. M. A dlvirTnd of nnr p*r rent ha* this dsv be**n declared ppon th** common stock of th1? rompanv. lastted and Mitstandlng. paysble M*v I'th. 1*21, to stockholders of record at the rl^ie? of btttlnMS nn May 1"th. t#C1 No rtt\ I ? ' nd n 111 b? paid or or by reason of any snd al' frnimn Slock Dividend Warrants. The stock book" will not be closed. 1 i-stcd April "1ti, 1R1 OfEOROB WATTLWT. Tfa?'i""' F,l KCTIONI AND MFETTNOi. HrrfffE ok anvu.M. MWwHSfO To th? Stijfliiholdera of CAIN'S Tn.WHFKR r'OMT'VNT. ISO Tit" annuel of the iKookliofeisrS of I c'alti's Trarefer ' 'wptny. Inc . ?1H be bald it 'he r?f f Ices of the company. No MS1 Rroadwav. Thorough of Mannattnn. City of ,S*?,v York, r.'iom ."10, on the 5th ds.v of Mm 11KM. e' 12 o'clock noon, for !ho el?"" tlon of Olrentota for the ensuing year and for 'lie transaction of inch other hu?lness a* mm properly come hefor? "l" ?ii'-tlng. joBrcmt a fi.ood. Secretary.