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Richmond Terminal Railway Company First Mortgage 5% Guaranteed Gold Bonds l>ue 1953 Payment of principal anil Interest unconditionally guaranteed Jointly and neverally. by the Rich mond. Fredericksburg A I'otomac Railroad Co. and the Atlantic Const I t ne Uullroad Co. Price yielding about 5.25% The National City Company Main Office: National City Hank Bulldin*. Uptown Office: 42nd St. 4; Madison Ave Increasing Earnings are reported by Public Utilities in every sec tion of the United States. Certain well secured Public Utility Bonds are still avail able at attractive prices. Write for Circular S'o. Sfill Bonbright & Company Incorporated 25 Nassau Street, New Ycrk EXEMPT FROM ALL FEDERAL INCOME TAXES Legal Investment for Satings Births and Trust Funds in Nets York and New Jersey $80,000 Town of WestHobok en i! New Jersey 6% Improvement Benci3 Due June 1. 1927 FINANCIAL STATEMENT AMMd Valuation. $27,207 j Net Debt. 900.! So | Population, 40.000 Pricc lOS1^ and Int. to yield 4.80% Circular upon request. B.J.Vanlngen&Co . 46 Cedar Street, New York j Telephant John ess , | 1 Galveston Houston & Henderson Railroad Company 1st Mtge. 5s, due 1933 ? Listed on New York Stock Exchange ' QRIGINALLY issued ltd, and | secured l>y a Unit niortfHK' | on entire property of CMItpany I covering railroad from Hnuwlon to | Galveston, T'-xas, and oxtennh-* 3 | tormina 1 facilities at Galveston. a Th?'de terminal properties hsndl* I of the tonnage of the port of 1 Galveston. ? This railroad aervoS as tli" u rrnl- I nai and only outlet to tidewater J for two rallrnnfl systems, aggro- j gatincr over miles, nn<l ti:r? ttRMd a ?urplu* above chum>.< for a period ?>f 25 years. To yield 6.60% I F. J. L1SMAN & CO. Specialist* in Steam Railroa-t Bonds Since 1893 Mtmbrrs X. V*. Stock Kxchtiny* 61 Broadwfy, N.Y. Bowling Green t>7<0 Alp'n Port land Cement American Thread Baragua Sugar George W. Helm" Industrial Bunk of New York Kauffman Department Stores 1 lis gel Is International McAmirews & Forbes New York Mutuil Gas Phelps Dodge Pitts., Bessemer k L. Erie Common Poilum Cerenl , St. Louis, RorVy Mountain & Pacific Termina' Wsrehousr of N. Y. : Trinity Portland Cen?nt 1 Well St. Exchange Building FREDERIC H. HATCH & CO. Established 1888 | 74 Broadway New York Tel. Bowling Green 1220 WIRE C ONNECTIONS Boston, Chicago, Philadelphia. Montreal, Pittsburgh Singer Mfg. Co. Stock J.K.Rice,Jr.&?o. Phenea 4000 to 4010 .Min. M Wall St. N. r. RaU and Industrial Stocks KiSe in Year's Broadest Trad ing-?Sterling; Higher. The list of stocks dealt In yesterday was by far the most diversified of this j year and comprised many Industrial and railroad issues which had made only casual appearances on the speculative stage. Although buying evidently con | tinued to be concentrated in the hands of powerful pools, the strong advance | of good rails was an earnest of renewed | j accumulation by speculators and In vestors impressed with the market's | ability to hold up in the face of recent unsettling developments In other mar kets. As far as foreign exchanges In fluenced stocks, they had a stimulative force, us sterling, after being dealt In I at l.27'_. In London before the opening hire, was bid up in New York to 4.32, and left off about 'i cents higher than { it did on Monday. It was probable, however, that the security market moved without consideration of ex changes, as sterling's sharp fall on Mon day liftd been practically Ignored by stocks. Tho active industrials advanced a point to 2 points and sugar etoclss and ; several specialties of the class of United ; States Cast Iron Pipe, which advanced I nearly l> point*, were especially exuber ant. The extravagant character of that 1 stock's upturn is likely to be disclosed to-day in the annual statement of the company, showing, on the basis of last year's income, that dividends for the Junior shares are remote. The more stable elements in the day's rise were supplied by the advances of the Cana dian raclflc. Consolidated Gas. Great Northern preferred. New York Central. Northern Pacific and Reading. Those and other first line stocks made their best demonstration in the session's late 1 dealings. The highly excited condition of the for< ii;n exchange market, especially j sterling, showed that peculation had : been flung off its balance by events in i l!ic last few days. The broad recovery i apparently recorded covering of heavy f;hort lines, the Incentive for which lay In news that South African labor dis turbances. which have borne all along earmarks of radical political agencies, 1 had been quelled. The excellent show ing of BtltiFh commerce movements in February ulso had much to do with ex change buying, as ovcrnli'nt cogitation of the small import balance, a mini mum for many years, indicated thut trade Hnd its accompanying factors ! verted in invisible credits were working strongly Iti favor of the pound in for ! eign markets. A direct response to the sterling upturn was seen in a stiffening ut United Kingdom bonds, and foreign bonds, as a whole, were firm, some of them reaching new high points. Tiie eas -merit of money aroused hopes of low rates for considerable time. Call j i it.ii. were arranged nt 4 per c.nt. and] shading of tit long standing 5 per cent, rate for collateral time loans was re ported. It is evident that the money and the credit outlook Is considered satisfactory by distributors of securities as largo new Issues are under prepara tion In addition to big offerings an nounced this week and for which appli cations have been heavy. FOREIGN EXCHANGE. TUKSHAY. MARCH 14. 1922. URKAT BRITAIN. ; rarity Mon tJ.'OIH pifrllng: flay. day. Mar. T ! Demand ... .$ l.."-2% MbIVH i ? 'able.. ... 4.33 *40'.? 4.37% | IJ?tlll"! . AO days ... . 4.20% 4.23% 4.34% i(M11era, 01 dayn 4.28% 4.21% 4.33 THK ( OMINr.NT. 1B.30 1'ra.nff, ( ills a 'ran.: rvmniHl .. ?.?>?? i 9.70% ! Cabl'"< ... . 8.05 P.70 8 1>7 i 10.30 I'.i ltlum, i i lit* h fr?r?' 1*. .n.l .... 8.30% f< 11% 9.41% | . ali'.'B 8.31 *.17 8.41; | i lttSO fwitxiTiud. lit* a r??am: p. i nut . .19.35 10.30 19.40 <?}? ?.!? : 19.37 10.33 10. IS 19.30 Italy, rrnt* m lira: Demand .... S.oti 4 S.'.'i , i 'tMi * ..." Oti% 4.38 4.07 i 23.80 Ortnniij". eenta ? 'nark: IVrnand .17% .37% .39% 1'niiiM ?""% .37% . 29.80 Hwwl'n. C"nt ' n I;nine: 1 ? ?rfmrnl 25.7" 20.80 20.30 Cab1? 25.80 20.80 28.33 20 80 Norway, ??lit* a i , ,1 ... 17.:;- 17.or. 17.70 I full!. .. . 17.40 17.10 17.75 i 28.80 h. nmn'l:, cvn ' :< l;r<>;i?: Hrrrtand 21.4*1 20.93 2100 | < tvbl . 21 05 "0.00 21.36 i 19.30 r.rvci r, . rut* a drachma: I i?tva>id ... ' 55 4..V. 4.03 CaMrs .... 4.31 4.37 4.03 10.30 p?nti a ! >?m?iul . . , 1 "..49 15.39 13.7* 15.30 15.40 13.*0 40.20 t toll, i.'. Cent* :? florin: fvmatid .37..VI 37.23 37 00 ('able* .... 17..'..* 37..30 37.03 BI.40 I(n?nlr. r?nt? a rtiMa: i'?i ,00', .00% .05% 500 nilil'i... ,0<7 .07 .0(1 20.2C ?\>i 11 l.i. ii'nti a ''rown: I loniatiil ot% 01*4 ni^ t'libl-.t OP, 0| % .01 23.t'i 1'nland. ocnta a mtn'k: l>?niatid 02% .0"% .0?*, ('abloi or. .02% .021, ro.3o iiuiifurv, c?ntt ?* wn. 0t>mand 12% 12% .14 <iib1c? 13% .13% .13 20.30 cmti a crown: 1 x'liiiiml ... ,' i .35 .38 f'abi?"i .30 .33 i 10.30 t'lntaiid, rrnta ? mark: frmatwl ... . 2 P7 2 W }K1 i Catrt** ... 2.0* 2.OR 2.00 I rateho-Slovalih, ttttns a, frown: | t'Htfnarxi .... 1.*o \.?n l./W i CtibUn I.ST 1.77 1.I1T i 10.30 Rumanln. r??nti a leu: iwrtiBtHl .... ,7i? .74141 .77 f'nMcM ,77 <7?*% .73 Turkey, cent* n. pound I ?fMi'n n?J .....50 (Wl.flO rt.V.V) Cables 07. .V) (WOO 07.".0 FAR ILtST. 10S.32 8lian?r!mt. rent* n tar!: ttvinand ....70,BO 70.30 00.75 I'ablr* 71.00 71.00 70.23 |M0 Honeknng, r'<i.|< a il.iilnr: T irninII'1 ... .52.112% 53,.*17% 52 00 53.02% 52 50 49.00 r.omhny, cent* ? rupci D*mand ....27.75 29,00 59 12'. < "n bkw 29 00 28.25 28.37% 40.94 Yokohama. c#ni? a j-?n: l'r t ?n.l 17 50 47 37U 47 25 <lnbl< < 47.75 47.02% 4 7 ",0 MM TH MMICA. 32 i I r;io ilr .itttialrn, f? n i illr*!*' 1? maud ....13.07% 13.87% 14.55 t'ublfi , . .13.7-. 13.03*4 11 .31% 42.4"' I'.'M'ni..' Allt'.. it'1** ;i II.'*.. 1 fmaod ....35..31 .3". V7' . 37 13% ' abb"- 35.37' Hm.O.IH 37 "0 I OS. (2 I'ruaiia' . rcm? . ,|,>llni I if p-anil .. 70.25 90.50 92.12', I'abkm ... .70.37% 9'i.(;2% *?}'?:, ' f'AJr AI>A. N?w Tor:* furiit* in Montr.'al. *:;7.."o pr?. irilum a $l.(>00; Moriirral fund* In New York, 930.11 dijicuunt a $1,000. NEW YORK STOCK EXCHANGE QUOTATIONS. TUESDAY, MARCH 14, 1922. Day's sales i55RT=^i High.; Low. | Closing. Bid. 66 18% 49 66 17 % 1% 69% _ . IMv.l I AmW. ShIcs. | 1922. 1921. 944,_'42 648.040 High-1 Low est. ( eat. 48 10% 31% 45% 13% % % 55 % 106% 101 4 93 41% 70 % 42 41 62% 45% 104% 156% 12% 26% 6% 189% 16% I 70%! 104% 82% I 72 45%I 3S% 11%! 9% 34%, 29% 37% 86% 29% 55% 31% 31% 51 32% 93% 141 7 19% 4% 127% 12 58 78 111% 118 8% 15% 51% 93 % 138 34% 74% 35% 71 55 124% 102 112 3% 5% 43% 80% 63% 16 46 51 16% % 1% 58 106 46% 92 40 68 41% 40% 58 44 103% 155% 10% 25% 5% 132 IS 68% ! 103 79 44% 10% 31% 64 ; 17% | 8 | 16% I % 1% 58% I 107 47 | 82% 41%! 68%! 42% | 41 60 ; 44%; 104 156 I 10% I 26 : 5%; 133 I 15%! 69 j 103% I 80% I 44%! 10% I 31 %! 200! A damn Exp... 100 Adv Rumely.. 100 Ad Rumely pf 100 Air Reduction. 3000 AJax Rubber.. 1200 Alaska G M... 96001 Alaska Juneau 2400 Allied C A D.. 200 A1 C & D pf,.. 900 > Allis Chalmers 300; Allis Chal pf.. 900 Am Ag Chem. lOOlAm Ag Ch pf. 8001 Am Beet Sug. 2700|Am Bosch M., 3001 Am Br S & P. Open ing. 9100 108% 109 116! 118 7%| 7%| 15%! 15% 50% | 50% I 93 93% | 109% 126 1126% | 30%! 33% | 33%! 54% I 73% | 73%! 23% I 31% I 32 1 52% 62 64 1 54 I 54 I 56 114%' 124% !124% 7! h Am fan 200]Am Can pf.... 1300;Am Car & F.. 600 Am Chicle ... 800! Am Cotton Oil 1200'Am Drug Syn. 2001 Am Express .. 100 Am Hiile & L. 2001 Am H & L, pf. 1000 Am lee '103%! 104% 700! Am lee pf 80% | S0% 44% 45 63% 16% 47 62 16% % 1 58% 106% 46% 92% 41 68% 41% 39% 59 44% 104 156% 10% 26% 5% 132% 15 68% 63% 16% 47 52 16% % 1% 58% 106% 47% 92% 41 68% 42 41 59 45% 104 156% 10% 26% 5% 132% 15% 69 3900! Am Int Corp..! 400 Am I.a F F E.| 1100 Am Linseed 11 11 62% 16% 47 52 16% % 1 57% 106 % 46% 92% 40% 68% 41% 39% 58 44% 104 155% 10% 25% 5% I 1920. 1,276,250 Cloe-| Net" ins. |Ch'nge. 63% 16% 47 52 16% % 1% 57% 106% 47 92% 40% 68% 42 40% 58 ? 45% 104 156% 10% 25% 5% 132% i 132% 1% % % + 1 4- 2% ? 1 + 1% + 15' 68%! 15%! + 69 j + 103%;i03% 80 44 10% 80 44%' + 10%!? 31% 31%! 31%! 31%; 1400!Am l^oco 109 !109%!108%;108%! 4001 Am I.oco pf. Jll7%]Uf %|117%|117%|? \ 4400'Am Saf Razor.! 7% 4600'Am Ship & C.' 15% 2400 Am Sn> A Ref.l 50% 1000 Am S A R pf. 92% 100>Ain Snuff ...|126% 91 7% 15% 50% 7% + 15% . 7% 15 _ 50%| 50% I 93%! 92%: 93%! 126% 1120% j 126% '? 33% 33% 73%! 72% % 33%! Y39&I TZJ4| 73% I 4- % 31%l 30% | 31ft |4- 1 61 %! 61%! 61% | + 1% 55 I 55 | 55 | .. 142% 1129 % 136 1137%' 12 1 38% !l26 183% 1134 102% 96% 101 10%! 6 ! 10% 29 ! 17%' 28 90%! 78% I 90 108% 1102 %! 107 % 13% 38 14% ' 12 " I 40 I 36 50%! 47 4S % I 29 2 %1 1 56% 43 79%! 75 79%! 75% I 79% 100 ' 95% | 97% 88% 85 ! 85 102 ! 10%! 28% 90%; 109 14% I 38% 12 6' 1000!Am Steel F...I 33% 2200 Am Sugar ....! 72% 2900'.Am Sum Tob.1 30% 100 Am S Tob pf..! 61% 100! Am Tel & C.. 55 68001 Am Tel & Tel.! 124 % 1124 %' 124 M24 | .. 11001 Am Tobacco ..Il86%|187%ll36 il37% 4- % 1100'Am Tobacco Bil33%il34%[133 1134%'4- 1% 300|Am T pf new.j 100%1101 '100%!101 -f % 100'Am W VV & El 10%i 10%! 10%; 10% 4- % 800'AY.'W&K6"o pf! 27% I 29 ! 27%! 2S%' 7 11800;Am Wool.n ..I 89%) 90%,' 89U' 90% h 1 = 10C Am Woolen pf: 107 13%! 14%' 49%! 49'', 38 46 2 '""C. I 54 ' ; 1%' 90% I 4 ! 18% 31% 2;j 25% 81 %i 1 90 83 I 2%' 13%' 23%: 3o% 18 16% 20%! t I 47%! 2% i 54 %! 79 I 80 ! shJ 90 % 4 I 18%' 31 I IfiOOlAm z. % & s.. 1900 Am Z. I, & S pf 3900!Anaconda ....' 49%! 49% 1.".00 Ann Arhor pf. 46%; 47% 1100 Assets' Real 600 Ahso Dry Gds 2% [ 54% 79% 79% 97% , 53% ! 78 107 ? 1 % 14%:+ % 38% 4* % 49% ! + % 47 ] + 1% 2% ? % 54%! 4- 1% 79 ' 4- % 79%; 4- 1% 07%]-)- -V. 86%. 85%I 86%14- % 4 I 4 ' 18%' 17%: ! 09% J 92% ! 106-Ht 109 38% 65% 33 1104 33%! 38%; 62 % 55 ! 32% 26%: CI 66 36 12% | 91 I 46 127% 40%; 97%, 34 6% 28% 13', ! 75%! 54%! 6% 19% 19%! % 51 ! 55 % 34 1 N% 6% 6% 70 1 40 ' 115 , 28% I 94 28%' 5 % j 20%, 10% ' 68 1 43% 59 64%! ' ,s%: 11 % I ?%; 91 % 24% 81 % 107 109 38% 55 % 40 59%: 64 %i *9 11%' 9%! 94 ' i ; 126% 127 ' 29% : 39%! 31% 55i 31% 5% 25% i 25% 11 % I 12 73% 51 % ' t'J ?% 5% 6% 0% .. 140% 119% 136% 1130 % 10 h a i.. c, i 36% 70 % 35% 74 % 61 % 5% j 10% : 20 '! 43% 7%: 18% 24% 38% I 71 ' 3 29% 63% 32% 4 7 % 1 % 3 % 12%! 31% 5% | 14% 16% 29 59 70% 34% '-% 10 20 43 G 36% 70% 35 72". 61 % 10% 20% 100 As D G 1st pf.! 79 300|As D G 2d pf.) 78 2200 Atch. T & S F.I 97' 600'A, T A S F pf.! 86?' 6001 At. Birm & Atl! 1 100!Atlantic C L..I 90 200 Atlantic Fruit.I 4 200 Atlis Tack ...! IS1 2 lOOlA. Gulf & W 1. 31 _ lOOjA, G & W I pf.1 21%I 21%! 21% 21% lOOOlAuatin Xicholsi 24 ' 24%! 24 ' 24%! - 200 Austin N'i.-h pf! 81 1 S1%! 81 ! 81%l4 33001 Bald win I ?oco.! 107 % i 107 %! 101 %! 10 6 % ' + 100iRaidV.'in I.o pf. 109 il39 109 jl09 9700 1!;.It & OhlO...! 37%! 38%! 37% 38% -f 200 Bait A Ohio pf) 6001 Barnsdall A.J 210C Barnsdall B...! 1000 Hatopilas ! 100!*Beth Steel...I 2900 "Beth Steel B.' 1001 Booth Fish pf. 100!British Em St 1600 Brooklyn R T. 1500IB R T ctfs.. .. 1200 Brook I'll (la- 88 I 91 100 Buf & S pf erf*! 46 ! 46 10001 Burns Bros 126%' 126 % 200'Burns Bros B. 39% 39% 200 Burns Bro-i pfi 97% < 97% 800 Pi'tterick 11% 31% 100'Butte Cop & 'A\ 5ft I 5% 2500 Butte & Sup..' 25%! 26% 600 Caddo C O&RI 11 \ 11% 300lCal Packing...1 74%| 74%! 73^ !>00lCal Petrol 51% 1 62V. 51' 1700lCallahan 'AAV 6%' 6%| 6' 2500 Canadian Pac. 135% 136% 13:,: 3001Case (JI) 1'W 5%| 6 | 6: 21 no'Con I.enther .. 35% 36%' 35> 300'Ccti Loath pf.' 70% 70%' 70" 500 Cen'O de Pas.. 34% | 35 341 21001 Chandler Mot. 73 73 72' 4400 ('lies & Ohio.. 60 61 % 60 500jChi & Alton...! 6%! 5%| 5^ 200 Chi & Alton pf 10 ! 10% 10 5800 Chi & East 111. 19% 20 19^ ' + 11%! 11%! 11% ? % 6 %! 4 '0% 111% 100 1 7% I 7% 18% 18% 1 oj? r.' ! 2?7<i 37%' 37% I 0%! 70% 43%I .. 3600!C&EI e.i tr pf. 1000!Chi Gt West.. 1 + 69 42%' 94 ' 63 I 18% 28% i 60 ! 83% 4?',t I 29% I 48%| f.9 80% 3% I 14 I 72%! 64 110 15 1 1%! 60% I If 7% I 671 i 91 1 8 %1 39%! 69 30% 13% 51 15% 1101 1 66 ' 41% 92 61 17?% 27% 59 | 83 43% 28% I 18 " 5s%; 47 85 12 % 45% 91% 31% I 13% , ? 71 % I 50 ! 1071 1 105 ! 67 41%! 93% I 62 1 17% 27 '*?' 601 J 84 ! 44 28% I 48%! 59 ' 80 ' 3 %' ?% I 58 800 rhi tit W pf.. 18% Sl00|Chi. M St P 28% j 6300 C. M & st P pf 37%, 5400 Chi A: X W. . . 69% 200 Chi & |i W |)f. 110 100 Chi Pneu Tool 6G 18900|Chi. R I A- P.. 40% lOOiC.RI.v I' 7pc pf 93 100 C, St P, M A <? 61 %| 2800.chile Copper.. 17%' HOOiCIiino C'oiper. 27% I00IC. C, C K St I. 60 100'C.C.C & 11. pt 83%, 800]Coca'Colft .... 43% 860!Col Fuel & Ir.l 27%! 400Col ?<? South..' i^'4 100 Col & So 1 |)f. 59 3800 < 'ol Gas & 111. 79% MoOlColum Gmph. I 1500 col Graph pf.' 1200 Comp Tab Pv..' ? - 7? ?!>??? 37% 38 69%! 70%: 1! 17? 13" i: 107 12%l 1J I'll 1%. 59 I 59% 104 '104 % 72% 71% I 50 1 60 110% 1107 1 35% 63%' 48% '14% 104% 11'.' % 11! 0'i, 78 %! S9 8%! 18 15% 39% 8% 107 - ? t 4 7 149% 8JT<, 1 J % 18% 11% 85 v 99 41 94 94% 1$% 20% 100 18% 2% 3% 125 74% 11% 7% 114 115 10(1 145% 82 % 10%( 17% 11%! 81 1 93 i 37% 93 I 91 15% 19 36 58 26% 94 18% 39% 5S%' 116 I ' 15% 10.}%! 3' ? 1 16 82%' II 17%' 11 -u: 8.1%! 91 : 100!Cons Cjifar pf.! "0 7 15400jConsol Cas ...!107% 4300 Consol Te.ttll' 11% 2400!Consol Dlstrlb i',| 1%' 1 1%!4- % ..I 1M>0|Cont Can ....' 59% f0%! 59%' 60% 4- 3f>K f6 30001Corn Prod Re'll04%'104% 103% '104 ? % 2%| 7200!Cosden &C-,..! 35 1 36 35 ' 14- 1 ' 4 2200lCnifible Steel.! 57% i 58 57%) 58 14- % ,. lllOO'i'ul. Am Sup..' 7 400iCub Am S pf..! , .' 13700jCub;i < 8600'Cuba C 8 pf. 12 001Davison Chem! 57%' 51%' .-7% 57%' 9! 700 T>el A Hudson ! 114 H!% 111 !114%! 61 1600'Del, Jj A We^t.114% 115 114 115 f 8 100 Detroit Ed Co. I 6%!t#6% 106% 106'/3' 1' 2800lDome Mlncf . . 100!Dul. S H A Atl . .! 1001). S S .V- Atl pf! 121 lS00|E!ec Htor Bat. 14" 5' ISOOiKnd Johnson..' 82%! sj% %l 1< 1 ?? % I 6r.%' 73%: 157 I 10%! 73 ' 85 41 % ' 30% , 19%! 80% 36% 1 13 90%' 3% 103 61%' 15% 79%! 103 t%! 3% 9%! 11 % | 43'4 76% 11% 12% % i % % 46% I 58', 1 58% 55%; 60%. 40% OS ' ** 136 26001 Kri'" l.'OOlKrle 1st pf.... 1700'Eri- 2d pf Play-La*, P-Lt.i f?rj 8%i 1( 1 x: : 7-. 69%; 156 I 10 1 2% I 83 47* 79%, 34 % j 40% 26%! 28 I 12 I 17%' 80 I 36% j 12% 71%' 70%' SI % 6"? 1 44%! 10ft 70 97% 3% 37% 1 3% 6% 33 '101 1 60 19% 25ft! 22 93 16%l 72%: :t 1 e.i ! '3%l ri% 35 21% %'\ 1 Val 79% 13% 62 % 25% I 68% 5 ' 11 % I 21 I % 10 99 3% j 40 ' 2% 6% I 11 42 ' 25% t 92% ! 16% 71% 38% I 71% 61 12% 64 45 % ! <14 3<?V. I % 19% 34%| 39% 6 i 6 J 70 I 56 %jxl 10%! . " 3 % 85 1 40%' . 28%; . 18%' . 80% 3fi' . 12% . 72% . 3 ! . 102% 61 20 76 101 3% . 40% . ?> IS'I i M: 11% . 42%! . 25%' 92 % 16% . 33%! . 61% I 13 . 31 I %' 20 % i 40 | 12800 !Fam 20')'fram 200 FYd M A S pf 20(i Fisher Body .. 4001 Klther B O pf. 4800 Kisk Rubber..1 270'?iKreo|;xirt Tex..' 1700|Gas, W A WIK 400 fieri Am T C..! 12400'Gcn Asphalt.. 200H!en <'icar 200 (?en Electric.. 1 730<i Gen Motors 1000[Gen Mot deb..' 100IG M d pf 7 pc-i 900!Goodrleh ! 40ft 200 Granby CMS8. 27 200;Gray A Davis. 910o Great Nor pf. 11too Great. Nor < ore 2600f0unn SuKar... lOOOlGtilf Statin R. 7500' 1 fnbirshaw EC 200'! Tartman (102 Vfc! 102 lOo Homeptako 260ii Hupp Motor 1000 Houston Oil .J 75 400: Illinois Cent..! 100 30" tndiahoma ... 900 Inspiration C. 300 I nterboro C .. 50o 1 nterboro C pf 400|Int Agrl Corp. 300 Int Ag < 'orp pf 4000 Int Comb Eng 3oo int Harv Co.. 69f.o Int Mer Mar.. 1260O int Mer M pf. 3500!Int Motor Tr.1 70u int Mot T I pf! 900 int Mot T 2 ?>f( 59% 26(H)1 Int Nicltel .... 100 1 nt XI' kel pf.. 13oo ! nt. I*.iper .... 500 int p pf ?-tpd. ?800 InVin ?!>! ? on. 100 loWU ' 'enl .'Hi.. #000 iron Woducts. 1 I7oo [slatvl oil T 800 .Jewel Ten .. . 801);.lories Bros T. 2100|Kau A Gulf... Year to date... .??1922. ?| /-Closing.?i |E>H".| High.I Low. I Bid. I A?H. ]in<.| 62% 34 % 61 90 % 2 7 57% 46% 97% 95 30% & 18# 174 58% 17% 34 31% 61% 101% 91 104%! 98 15 ! 11 12% 9 41%! 36 153% 147% 82 I 72 20* 15% 52 ! 30% 80 ! 7!) 49% i 33 431/* 33 11 3 46%! 17 26 56% 45% 97% 96 5 15% 110 43 10 26% 26% 56% %l 29 6 16% 26% 57% 45% 98 97 29% 5% 16% 134%! 136% 58% 59 16%i 17% 33 34 33%I 34 68%I 59% 3% 102 103 | 7 103% 1110 14% I 15 12 12% 37 152 81 19% 50 79% 36% 33 9% 37 38 153 i 2 81% 6 20 I .. 61 ! .. 80 I 7 37%' 7 34 11% 9% .. 41 %' ?? 67 36 j 62% 34 ! 20%! 27% 12 I 5% I 10% 29 I 22%i 25 62% 14% 112% 14% 16%| It 115 I101 15% ( 13% 128% 106% 126% 28 I 25% " " 13% I 11% 32% I 27% 10%! 5 71%l 60% 5% % 6% 1% 75c 12 2 1.20 28 12 25% 15 113 14% 126% 27% 27% 13% 13% 30% 30% I 10%! 10% | 61 ' 63 ! 5%l 6 I 6% 7 | 12% | 7% I 12% ! 12%. | 34%: 24%! 33%: 34% I 23% 16 I 22% I 22%I 55%! 43%! 65% | 55%! 15% | 12 15% i 15% | 30 ) 19%i 29 | 29% 13%' 10%! 13 1 13% 44%! 36 ! 39 ! 41 2% i : i%! 2 ; 43% 30%: 37 ! 37% 94% I 85 I 90% I 90% I 4 j 3 : 2%) 3% ..| 15%f 13% 14%f 14%! 65 i 54% j ^4 j 65 j 6 83 1 72%! S3 1 83% I 5 33% 28 I 29% | 30% 2% 18% 12% 18% I 18% ..! 22% 19% 22%! 22% 2:> i 13 I 22' 23 16% 12% i 15 (16 101% 96% 100%, 100% , 60'm I 43%! 38 82 741 43 81: "A o i 57U, 43%, 82 1 28% 20%: 23%' 23%' 14 11 I 12% 13%! 4S%! 47 47% 50 \i 3 211 2%! 2% .41% 116 1138% 140 | '41% i 11G 138% ! 140 I 10 : 10% 33 33% 8% I 8% 6~i% (J6 13% 1 I 40 % | 49% 18% 57% j 57%) 52 % | 12%) 9% 34% 24 % 9 6% 67 %; 62% 3 5% 11 60% 44 58% ' 52%' 44 3S j 33%! 37%- 38 10% ?% 7%! 7%1 76'hi 59% I 77% I 78 i 19% I 10%! 17%' 18 1 2S% ! 10 1 28 ! 28%l 60 i 59 % 59% 60 70 63 I 69 ! 70 , 38 ! 31%' 37%I 37%: 102%! 82 84 1 88 | 35% 28% i 34i, 84%| 18%| 13%! 16% | 16%! 3S 21 ',x | 35% | 36 12 7 ; 8%' 8% 71 39 I 47% 48 63%! 58% j 61 I 62 ; 93 90 % 90 92%| 28% 23 26 1 26', | 69 % 63 i 68 6.8% 30'., 24 26%; 27%! 88%' 66 86 : 86%: 118% 10.1% 117% 117%: 43% I 30% i 42% 42%' 38% I 29%' 30% 30% 1% |11-16 .. 11%: 13% I 14%; 15 1 71% | 74% | 75 | 24 I ..I 50 ! 61% 41 CO 76% 42 73 63 6.1 11 N%I 4% | &% 56%! 46% 50% 54% j 47% I 52 14", 1 12%i 12% 41 % 73 63 32%! 5%: 61%! 52% i 13 30% 20%! 28% 29% r.1%1 36 50%) 52 29%! 20% 29%! 29%! 44%; 8 3% 1% 17% 11% 2% 1% 4 % 2 % 9%1 3% 70 ."?%? % S% 4 I %! 3%j 16% 4 ' 4%' 7 I 7'/. G7% 68 ! 23%! 10% 13%' 13% 43 1 35% tl%) 40 ; 23%| 18% 23% 28%1 41 ! 34%! 30%| 37%| 57% 43 52% I 53%] 86%! 78%' 86%! 86'.'.! 21% 17%' 21 21%' 64%! 45% | 5.1 j 63% 74 c 183 1160' 115% 113 98%' f?l 5). 70 ! 68 . 175% 17S 114% 1115 ! ?5% | 96 I 6:1 74 37%' 24% 37 37% 46 ' 35% 45% j 40 ?08% 70% 102% 1102% |P8% 'lOO 1107% 108% " ' 3%) 6% 6% 6 ?"? H 1 5 5 I 3% 5% I 1% 11% I 9% 4 6% 42%I 41% 44% 46%' 38%I 43%' 44 6% 4%' 4%' 3 3 % 1 io%! n f2% ! I' 24 14 65%; 5; 30'i II 89 ' "1 11 I ' 42% 32% 28% 23 1 26%' 27 34%! 24%' 3.1%I 34 1" 19%! . .1 62% 62% | Jfi! 11%' 28 ..! 36% ! 37 i 9% 9% | ..! 19 I 40 | 3] 20%! 17%! 17% 1S%( .. 1.16 125 133% 133% 10i 74% 71%: 73 73%! 4' 102% 95% 10'.' |03 1 7! 105 102 1103% 104 7! 99 25 ! 28%! 28%! .. 110% 104%! 107% 109%! 7 73 60% I 70 ! 70%: .. 46% I 41%' 44 43 % I 145 11?'% 140 |141%! 8' 12% 7% 1I%! 11%! .. 33% 2o% I 32'? 3 : 56% 43% 46 V 46% 6 16% 87%! 38 1 .. 50 | 68 70 5 2% 1 6 6% 37 1 49%! 48% I . .1 55%: 69% ?;0% 33 69 10% 40 ' 4 64% 62%' 11% 61% 102 % 37 % 4 4% 96'< 82 11? 114 % 65%: 60% 16%' #% 99 ! 102 103 32% j 35% 36 1 42% 43%; 44% 13% 39 92U 80%' 38 94 % i 94%! 116% [117%! 63Si 63%! 15%! 16 90 90 3^%! 1*2 I 36% 27%' 35%! 38% | 78% ?7 76%! 76%! 94% 44 I 41 ! 46 i ? % 6 % ! 9 % I 0 % I 25% 56 46 96% 95 29 6 16% Balea. ) f fnf Kan City So.. Kan C So pf.. Kelly 6pr Tire Kelsey Wheel. Kelaey Wh pf. Kennecott ... Keok A DM.. Key Tire A R. Kresgre |d 8). Laclede Gas .. LEA West.. L E A W pf... Leo Rub & T.. Lehigh Valley. Linta Loco ... Lima Loco pf. Loews. Inc ... Ivoft, Inc Loose W Bis.. Lorillard (P). Mackay Cos .. Mallison A Co. Manatl Sugar. Manati Sug pf Man El puar.. Manhat Shirt. 'Market St Ry. Mkt S Ry 1 pfl 45 Mlct S Ry 2 pfl 24 4900 1000 2500 1900 200 4000 200 900 500 500 700 600 10800 1900 200 100 7800 1700 100 100 100 100 900 300 800 200 2700 1600 1500 6900 500 800 400 200 900 27O0 14800 200 1922. 1921- 1920 42,628,382 33,517,868 64,935,860 lOpejr" 1 inch-1 Low-1 f'ios-l JfiT ? ' 1 est. I >?t. 1 *~ 25% 56 45% 95% 95 28% 26% 57% 46 97% 95 29% 16% 16% 1S6%|136%|135% 66%! 68%) 56% 17V 33% 33% 68% 103 104% 14% 12% 37 152% 81% 20 . 51 80 o5% 34% 10% 17% 33% 34 69% 103 104% 15 12% 37 152% 81% 20 51% 80 37 34% 11 46% 25 67 28 17 33 33% 58% 16% 136% 58% 17 33% 34 59 102% 102% 104% !l04% 14% | 14% 12 j 12% 37 ! 37 152% il52% 81 % | 81% % 1% tut:. jOh'nge. 26% 67% 45% 97% 95 29% + 4 -I- % + % + 2% + 20 51 80 35%' 20 51 80 37 34%! 34% 9% 40 22% 60% 27% 9% I 12 25 Mkt fifty pr pfl 66 Mart-Purry ,, I 28 Marlln Rock...) 9%I 12 Marland Oil ..( 25% 25 Maxwell M B.l 14% 14%! 14% Mays Dept St.'112% 113 (112 Mclntyre Por.l 13% 14%j 13% Mexican Pet..'126% 127% 126% Miami Copper. 27% 27% 27% 63001Mid States Oil.! 13% 13% 13% 4300!Midvale S & Ol 30 30% 30 2100'M & St L new.) 10% 10% 10% 200 M.fltP & 9SMI 62 62% 62 700 Mo, Kan & T..I 5% 5% 6% 800 Mo, K & T . I 6 % 6% 6% 5100'Mo. K A T w i| 12% 12% 12% 2600'M.K & T pf wi! 34 |34% 33% 19001 Mo Pacific ... 22% 22% 22%! 5000iMo Pacific pf.1 54% 55% 54% 4500!Mont W & Co.' 15% 15 %| 15% 100'Muliins Body..! 29% 29%) 29% 200 Nat Acme ! 13 100 Nat Clo & Suit; 40 41% 23 62% 27% 6001Nat C & Cable. 1% 4900 .Vat Enam A S 36% 1200|Nat Lead 89% 200'N R of M 2 pf 3% 1200 Nevada Con C 14% 1200 N Or!, T & M. 63% 8200 N Y Central.. 81% 200'N Y Dock 31% 6600:.V Y, N H & H 17% 600 N Y, Ont & W.I 22% 100IN Y Ship Co. .1 23% 200!Norfolk So ... 15% 800 Norf A West.. 100 800 Nor Amor Co. I 57% 200'Nor Am Co pf1 13% 8800 Nor Pacific ... 80% 200!Nova Sc S & C 23% 100 Ohio B & B Co: 13 lOOIOhio Fuel S.. 48% HOO Okla T* & Rcf.! 2% + % + 1% ? % ? % ? % ? 1 3% 13 40 37% 90% 3% 14% 65 83 31% 18% 22% 23% 16 100% 13 40 1% 35% 89% 3% 14% 63% 81% 30% 17% 22% 23% 15% 100 66% 43% 43%' 82 ' 80%; 23%! 23% 13 ' 13 48%' 48% 2% 2%| 10 Otis Elevator..,137% 137% 137% 14% 113 14% 126% 27% 13% 30% 10% 62% 5% 6% 12% 34% 22% + 65% + 15%! + 29% 13 40 1% 37% 90% 3%) + 14% 64% 83 30% 18% 22% 23% 16 100% 57 13% 82 23% 13 48% 2% 137% % 3 % 1% % % % % % 14 + 2% 1% % + 1% + 2% % - % + 1% + % 200 Otis Elevator.. ,139%j 139%,138% 138% 10% 5% 18 27% 59%) 69% 36% | 87 : 34% i 1001Otis Steel 2700 Owens Bottle.. 4600)Pac Develop.. 500 Pac Gas A El. 300 Pacific Mail... 2600 Pacific Oil .... 6i00|Pan Am P & 'I' 1500 Pan A P & T B 4100! Penn R R I 38 4300!Penn Scab St. i 3800 Peoples Gas. ..| 2001 Peoria & East., 4800 Pere Mara ... 5001 Pere Marq pf.: 200 Pere M pr pf.| 3700|Phila Co ) 200!Phillips Jones.! 900 ?Phillips Put..; 1200:Pierce Arrow. | 400)Pierce Ar pf.. 2300 Pierce Oil lOi'iPierce Oil pf..: 100 Pitt Coal of P.| 100j Pitt C of P pf. 1800 Pitts & W Va. 200 Pr iSteel Car.. 500 Prod & Ref. .. 27 5000)Pub Sorv N J.| 84% 48001 Pullman ..... 117 4000 PUnta A1 Sug. 42 2100 Pure Oil I 6300 Pure Oil rts... | 800 Flay Con Cop. 5800'Reading ! 3600:Iteming Type..! 100 Rem Type 1 pf 10(Rem Type 2 pf 82; Rem T 1 pf b 81 3100iReplogle Steel] 600 Pep Mot Tr... 700'Rep iron A St 2700 Royal D N Y.. 100 St. Jos Lead.. 6700 St L San F. 700 Si, 1/ A s !?" pf! 1800 St Louis S W. 210'.' HtLH W pf.. 1500 San Coc Sug.J 300!Savage Arm*..! 1000 saxon Motor..| 300|Scfib Air 1 .Inn, 900 Seab Air I, pf.) 900!Soars Roeb ...I 1400 Seneca Copper j 100 Shell Tr & Tr. 19000 Sinclair Cons.; 300'Sloss-S P & T..1 200 So 1* It SUKar.l 12200 So Pacific | 8500 So Railway .. i 500 j So Railwav pf.l 500 Stand Oil N .f. 177 500!St Oil N J pf..(114% 200 St Oil of Cat.. 96% 200 St & Tube pf.. 2400 Stew War Spd. 36% 4700 Stromberg Car' 43% 10% 10%! 10 V 33% 33 33% 7% I 9% 6%) 9 65% 65 % j 65%, 65% 14%! 14% *' ' " 49%: 49% 58 I 68% 52%| 62% 38 r%! 78 I 18 14 49 I 67% 14 49% 67% 28% 60 69 ?% 38 87 34% 37%, 7% 76 18 27% 59% 37% 7% 77% 18 28% 60 16%: n>% 35% 35% 8. ! 8%: 47% 47% 61%! 61% 90% i 90% 28 ; 28% 69 1 69 % 86% 69% | 69% 36% I 37% 86 | 34%, 16%! + 1% + % + 1% ? "% + % ? % + 1% + % % 1% + + 86 34% 1?% 35 8 ! 8 % + % 47% 47%!+ 1 % 61% 6i%: 90% | 90% ? % 2 7 % I 2 S + 68 . 68 111 8 % , 117 84% | 86% 4 + 1% 43% 30% 1%! 15 : 30% 1% 15 74 41% 73 68 65 32 5% 61 ! 51% 51%! 52% 63 65 42 30% 1A 14% 74 40 73 63 65 12% 1 28% so 29% 41 I 3 ! 14%: H 6% | 67% 32% ! 31% %! 6% 61 51 % 12% 28% 50 29 44 3 12 i* i 29% 1 51 %( 29% 44% 3 % i 15 j ; 117 %: + ! 42%!+ 1 30% + % 1%. .. 14%' .. ! 74% + l 41 | .. ! 73 i : 63 1+ 1 65 '+ 2'^ i 32%l+ 3% 6%l+ % j 51 | ?> 2 + % ! 12% .. : 2s% ?- <i ; 51%!+ 1 % I 29% + % | 44%'+ % 3% | + 14% I 15 + 1 2'A ,2% I 4% 4 7%: 6% 68%! 67% 13%! 13%) 13% 39%! 39%' 39% 22% 23%, 22% 36%! 37 ! 36%; 52%' 53%: 52%! 86 ) 86% 85 20%! 21% 20741 52% 53 1 52% I 177 176% 176 115 114 % ' 114 % i - 95% i 95%) 95% - % 70 1 ?n% 70 If 2 37% 36% 37% + % 46 I 43% I 46 + 2 2% I 4 | .. 7%|+ % 67% - % 13%!? % 39%: j- j.', 23%!+ % .17 ! .. J3H|? 1% 86%!+ 1% 21 + % 53 |+ % - 1% 22000 Studebakcr .??..! 101 % 102% 101 % i 103% ! + % 3200 Studebaker pf.'!05 ?% 5% 4% 2 % 10% 41 43% 26% 33% 19% 108% 1105 1108% + 3% 5% 6% 6 % 4% 2 % 10% 43% 43% 26 % 33 6% | 6% ? 4% ? 3%' + 10% + 44% + 43% + 26% h 3% - 3% 11 44% 43% 27% 34% lO'-J 19%! 19% 62% 61%! 62% + 27% 27 27% + 37 ! 36^1 37 9%' 9%; 9%I 41 40 : 40 18 ) 17% 17% 5000 Submar Boat. 700 Superior Oil... 6700'sweets Co Am 2700 Temtor C&KA. 210(i Tenn Cop & C. 8300 Texan Co 900 Tex Gulf Snip. !200|*Tex I'ao C&O 11600 IVxas A Pac.. SOO'Tllifd Ave .... 2100tTob Prodtic-ts. 61 %i 200 T.SI/&W otrsMl 27 j soo T.ILAW c fl Bj 36% 4500'Transcon Oil..I 9%: 300 Twin City R T.j 41 2400 rnlon Oil I 18 3200 I'nlon Pacific..) 132% j 133% ! 132% 133% f. 1 "" 100 tThlon Par pf.' 73% 73%: 73%! 73% f- 14 200 Un Tank Car. 102% 102% 102% 102% f 100 Un Tank C pf. I03%ll03%|l03%ll03%' f 200 United All St.! 28%: 28%| 28%' 28%'?? 100 Un cigar Si pf 107% 107% 107% 107%' f 800 l'n Drug Co.. 70 | 72 70 70 ( 100 Kn Drug 1st pf 4.1 45 | 45 45 1 ? 100 United Fruit.. 140% 140% 140%J140% SOOOlVn Ry Invent. 12 j 12%! 11% | 11 82%! 33%] 46%! 46% 32%' ?" ' 66 4% 49 60 rtl% 102 36 44% 94% % % % % % % I % % i% % - 1% % % % 2 % % 5500ll'n Uy Inv pf. 4900 Un Retail fit.. 16700'lJ S C 1 P X- P\ 1 lOOli'SOiPAE pf..! 900 rI S Eood Prod) 1700 U H Ind AlCO.1 200!U ? R A Imp.. 3300 U S Rubber...I 100!U S R 1st pf.. 400lu S S, R & M.l 100)ITSS,R&M pf.. 15000 tr S Steel j 400|U S Steel pf. .11 200 Utah Copper..' I 88 I 69 | 6% 49% 60 62% ,102 1 36 I 4i'i I 95 117% 22% !- 1% 46% f- 1% 37% + 5% 69 !+ 3 6 ' + 1 % 48% I? % 60 , - 1. fl 26%1 19% 26 18% 1 12%| 17 1.3", 10% 12 8 13 8% | N' 10'.< ' I 8 % I 10 U *1 26% 18 13 10% 1000 9400 100 1300 400 100 6700 6200 18000 500 Utah Sccur ... Vanadium ?... V Rnalto 1 pf.: Va-<'ar Chetn.l Va-Car Ch pf. Va Ir, C A C.. I 4 4 63%: 63% 16% | 16% 38% 90 ) 36% I '6%) 68 96% 100 51 17% 17% 19% 19% , | H 96*1 Vlvaurtou WatmPh ' Wabaah pf A. Wril>ash pf B.) 200 Weber A Hell.! 900'Western Md.. 300 We?t Mil 2d pr' 400 Western P11C..I 300West Pfto |>r.. 200: West t"n Tel..: 100 Westing Air !'? 8% 7% 8 % | 24% 26% 16 12%! 10 I 17% 19%; 55 '?? I 96 %i 81 32 45% 32% 66 4% 48 % 60 6i : ?2 102 102 36 ! 86 44%! 44%) + 94%! 94% + 117 117%' + 6?%! 6S % I + 15%|. 16 1 + 39 1 38%) 38%! + 90 90 ) 90 ? 36'4| 35%! 35%!? 76%! 76%] 76%|? 44 41 44 ? 9%| 8% 9%:+ 7% 24%! 16 12% lo | 17%: 19%) 55% | 96%! 84 | ? % 18%) 12%! 10% 17 %: 19%! 66 96% | 84 : 8 % I 4 26 ! + 18%| + 12% + 10%: t 17% ! i 9 %' . 56 I 96% 1 ?4 I? 2% 1 % % Continued on Following Tage. TOPICS OF WALL STREET. RaJla Move Upward. Transportation stocks shared In the detrtonatratlon or Btrength staged In the general list and New York Central, Northern Pacific, Great Northern and Chicago and NorU'western established j new hJ*hs for the civrent year. With s* gain of 1% points to 26, Wabash pre ferred A was conspicuous among the low priced issues. In tb6 view of many competent observers th? fundamental Improvement in th? tramrportatlon In dustry Is being more broa?fIy realized and the long looked for bull market In rails Is under full headway. St. koala-Sun I'rnnciica, The 1922 budget of the St. Douls-i3an Francisco Railway calls for $2,000,000 in capital expenditures for double track ing, reduction of grades, elimination of grade crossings and other incidental track work. The double tracking will require approximately twenty-five miles of new line estimated to cost $1,200,000. The entire expenditure! will be made on the BOO miles of road between St. Louis and Kansas City. Double tracked line on the Frisco Uoe.i not exceed 100 miles. Texa? and Pacific'* Meeting1. Indications are that the Texaa end Pacific Railway's annual meeting, to be held here to-day, will be n rather nega tive affair. Neither of its receivers is expected to attend and, because its di rectors elected last ye.ir liold office for two years, no election will take place. It is understood also that little, if any, discussion relative to plans for removing the railroad from receivership vc^ll take place. Consolidated Gam Higher. Following the announcement that the Consolidated Gas Company would be able, as a result of * supplementary order of the United States Supreme Court, to get Immediate use of Its im? pounded funds, amounting to about $13,000,000, its stock Jumped to a new high above 110. Another factor con strued favorably <by trailers was the dispatch from Washington to the effect that tho Supreme Court had denied the petition of the Corporation Counsel for a review of the decision. Other public utility shares moved up with Gas. Pub lic Service Corporation made another new high above 86, closing at the top mark of 86',&, a net gain of 1% points, and People's Gas advanced nearly two points to 7S. Dividend paying public utility stocks once more are regaining their old favor with traders, as Is evi denced by their recent consistent ad vances. New Yorlc Central. The advance of New York Central shares was one of the features of an unusually strong rail market. On a turnover of more than 8,000 shares they got up to 83. It was reported yester day that serious consideration was being given to a plan for consolidation of the varied New York Central lines. In that connection it is said that there Is a chance that the New York Central divi dend may te Increased to facilitate the consolidation with the Big Four property. Extremely Broad Market. Trading yesterday, which ran close To 1.000,000 ehares, was more diversified that it had been in other recent scsflta..^ and tho market, as a whole, was one of the broadest of tho present upswing. Not only were leading stocks of good Industrial companies put up sharply, tout upceialtles and rails also moved Into new high ground. The ralla wcro par ticular features around noon, and. aside from tho spectacular Jump in ICast Iron Pipe shares, constituted the feature of the trading for a time. Automobile ac cessories, likewise, were bid up uharply and public utility stocks pot into new high ground. Cast Iron Pipe. The advance 1n United State.s Cast Iron Pipe common stock was easily the market's feature. Tho move was char acterized chiefly by Its apparent etrong arm features. "Whatever profit taking was done by traders was not allowed to make any Impression and, on r turn over of considerably more than 20,000 shares, the common stock advanced from 32 to 38. Offerings were few and the commission house following, which jumped In when the pool began to push the irlock up, aided much the efforts of that irroup. Jn view of the fact that a bad income showlnsr for 1921 hail 'been sent out by the company for publica tion to-day and that the figures were generally known throughout the Street the basis of the move was difficult to | ascertain. Insider* in the company de clared yesterday that there was abso lutely no reason for such a. violent ad vance, notwithstanding their assertions that Its present snd prospective earnings eventually would warrant higher prices for the shares. Cnll Monty IlntM On the eve of the hugo transaction* incident to tax payment day and the date for payment of maturing certifi cates, call money ruled easy, loaning all day In tlie New York Stock Exchange at 4 per cent, with the minimum rate out side, 3V4 per cent. Easy conditions are expected to be maintained to-day as the withdrawals of $78,000,000 of Unlte?1 States deposits are more than offset by cash paid on retirement of maturing cer tificates of Indebtedness. Time money quotations were nominal. The Mexican Committee. Althoush there was no formal meetln* of the Mexican sroup yesterday, two rr three of Its members lield s private conference, at the Close of which there was no announcement. No definite word frotn Tie lft ITuerta as to the time for his visit to New York had been re ceived, although It appears like that he will be here In the first week of April, t Thomas W. T.amont., who will sail for j Europe on the Adriatic on April 8, said i that e. statement might be Issued before , his departure. Maine Central Tonkin* Vp. Officials of the Maine Cenlral nail road are confident of Us ability to earn In 1922 Its fixed charges with a margin to rpare In contrast to a deficit of $-'.1*1,000 after all charges In 19L'J. It U estimated that lis fuel costs will bo this year approximately 1700,000 less than those of last year and Its payroll savings close to $1,000,000. In 1921 the Maine Central's pffsenjr'T business fell off 2f> per cent, and Its freight business 20 per cent. Its current business, how ever. shows signs of partially reviving traffic on New England lines. FOREIGN MARKETS. T.onho.v, March It.?Trading was quiet and prices were ptoady to firmer In the Slock Exchange to-day. Quotations at the close of the trading follow: liar silver, an ounce. Par gold. 9fts. 0(1. Money, 3>i per rent. Discount rate*: Short Mils M per cent.i thrve month* bills, per rent. C'4 per rent. ron?olii, fl-1*;. PiltMi '? per cent, war lean, P0H. PrltWh 4't per cent, war loan, 0314. no Users. 10"S. Hand Mines, 2. Paws, Marcli 14.?Prices were heavy In the Po-.irse to-day. Quotations at the close of the trading were as follows: Frsnr*. Cent. ?1 P?r pent, rentes rm Kxi'lianit" on l.ondon ?(? <vi "i per re?it. loan 7S i?r, IT fl. dollar 11 jo'i ( rsTo.M itnisK nr.< Kin s. The receipts for duties n? the Custom Mmise yesterday wre f l.oat^-.'fl.no, i>t which $240,0ri.'l,17 for innrrliandlee wItliili ttwi from lvmd?<l warehouses and f*23,7?r>. 19 for recctit Importations, Tax Free Legal Investments CITY BONDS Rochester, N. Y. Rochester, N. Y. Buffalo, N. Y. Syracuse, N. Y. Schenectady, M. Y. Niagara Falls, N. Y. New liochelle, X. Y. 4.50% 1928-1938 S.OO* 1938-1030 1.50% 1911-1943 4.79% Aim., 1927 IUt5% 1938-1939 5.23% 1944-1951 5.00% 1947-1949 COUNTY BONDS Herkimer Co., N. Y. 4.50% 1939-1940 Nassau Co., N. Y. 8.00% 1936-1937 Montgomery Co., N.Y. 5.25% 1926-1930 Cortland Co., V. Y. 4.75% 1923-1931 Jefferson Co., N. Y. 5.00% Mch., 1940 Yates Co., X. Y. 5.00% 1923-1926 Descriptive circulars on fequcst. Pricei to Yield 4.10% to 4.30% Income OTPODMMMD Specialists ml JiMraMtBaos PHONB 9797 /rtXTOQ 135BRQADWAY*. NEWVDRK 6% Gold Notes Standard Gas & Electric Company Company's operated utili ties serve 578 important com munities in 16 States, well diversified agriculturally. In dustrially and commercially. Net earnings for 1921 were 15% greater than for 1920? and equivalent to 2.6 times all interest charges. A Foundation Investment Atk for Circular NR*!6 H. M7 ByUesby arid Cow 111 Broadway, New Yock New Hstco Boston ProWdeaw Chicago Income Tax Information Our customers and friends are invited to take full advantage of our Incomo Tax Department. WC.Lan?leyS Co. Investments 115 BROADWAY. NEWYORK MEMBERS NEWYORK STOCK EXCHANGE ill i1 CALLAWAY FISH 6-CO. ff lj Stock Cnhangt 37 WALL STREET NEWYORK BONDS FOR | INVESTMENT Canadian Nat'l Rys. (Canadian Northern Rwy. Co.) 3-Year S% Gold Notes, 192S THESE notes will be the * direct obligation of the Canadian Northern Rail way Company, forming part of the Canadian Na tional Railways owned by the Government of the Do minion of Canada. The sections served by this read are the most pro ductive of the country, and reach eveiy important traf fic center in Canada. Price 99% and Interest, to yield about 5.18% Send for Circular A-149, Merrill, Lynch & Co. Members New York Stock Exchanic 120 Broadway New York Uptown Office, 11 East 43d St. Chicago Detroit Milwaukee Denver t/it Angeles