Public Utility
and
Industrial Bonds
Yielding 5% to 9%
List on Request
?prince & SUjitelg
EstablWhed 1878
Members New York StoclJ Exchange
52 Broadway New York
Uptown Office, 565 JrS/th Ave.
J. K. Rice, Jr. & Co. Buy & Sell
American Cyanamid
Child. (Rett.) Co.
Cincinnati Northern R. R.
Eastern Steel
General Baking
Ingersoll-Rand
Kirby Lumber
Mercantile Stores
Royal Baking Powder
Singer Manufacturing
J.K.Rice,Jr,&Co.
Phones 4000 to 4010 John. 36 Wutl St., N. Y.
ONTARIO AND WESTERN
EARNS $1.09 A SHARE
Decline From 1920 la Shown
in Repoft for 1921.
The annual report of the New York.
Ontario and "Western Railway, stock
control of which the New York Central
Railroad is said to be desirous of pur
chasing from the New Haven Railroad,
shows net Income in 1921 amounting to
$636,460, after taxes and charges, equal
to $1.09 a share earned on its $58,113,983
outstanding common stock. In 1920 the
mad reported final net income of $855,
339, or $1.38 a share. Comparisons of the
chief Items in the income statement are:
19-1. 1920. <?
Net operating revenue. .$2,060,781 *11,151.902
Non-operating Inoome... 761,813 876,31.')
Standard return +350,398
Total lnconio 2.822,r>!U 2,378,SIS
Fixed charges 2,186,131 1.523,476
Net Income 636,440 835,339
?Ten months. tTwo months.
Ontario and Western's balance sheet
as of December HI, 1921, shows total
assets and liabilities of $100,220,882,
against $99,480,400 a year previous.
CONTROL OF BANK IS SOUGHT.
Offers for Stock of Homestead of
East New York Made.
Three banking Institutions, one In
Manhattan and two in Brooklyn, are at
tempting to obtain control of the stock
of the Homestead Bank, Pennsylvania
avenue, East New York. Offers have
been made to Its directors for their
.stock, but In a meeting on Thursday it
is understood that the directors decided
to reject all such offers. E. L. Rocke
feller, who was president of the Home
stead Bank for twelve years, died In
February and it is expected that an offer
will be made to his estate for Its hold
ings of the bank's stock.
Rudolph Relmer, Jr., vice-president of
the Commonwealth Fuel Company, has
been elected president of the Homestead
Bank to succeed Mr. Rockefeller. John
C. Creveling was made Its first vice
president. to succeed Mfc". Relmer and
John O. Buehler was elected Its second
vice-president.
KEYSTONE TIRE LOSES IN 1921.
Reports Net Loss of f678t089 for
Last Year.
The Keystone Tire and Rubber Com
pany was another corporation which
suffered from tho 1921 depression. Its
1921 report shows a net loss of $678,039
after expenses. Interest and taxes, as
contrasted with a net loss of $317,705
In 1920. The profit and loss deficit was
$1,468,128, against $384,624 in the pre
ceding year.
The company Increased In 1921 Its
cash position $9,856 to $114,888, ac
cording to the balance sheet. Notes and
accounts receivable dropped $1,084,430
to $1,353,473 and inventories from $492,
651 to $368,265. Notes payable Mpere re
duced $168,597 to $295,000; current loans
$95,000 to $125,000, and accounts pay
able $183,448 to $121,644. The company
also paid oil $423,056 of bank loans.
DKTROIT EDISON OFFERING.
An Issue of the Detroit Edison Com
pany's >100 par .otock Is being offered
by Dominlek A Domlnlck aad Spencer
Trask & Co. at a price to yield about
per cent. IMvldends have been paid
on this stock wRhout interruption since
1900 and their present rate of 8 per cent,
has been maintalnd since January, 1916.
TORPLUS ?1,S?8,TT4 FOR 11)31.
Tha Central Steel Company's report
for 1121 ?hows a surplus for the year of
$1,363,774 and a total surplus of $7,448,
920. Tha company's cash Is $388.781;
notes and accounts receivable. $1,512,
M8: accounts, notes and trade accept
ances payable, $795,237, and accrued ac
counts, $221,138.
MONET MARKET.
FniDAT, APRIL 7.
Renewals 4'4llya*t 4U
lilgh 4'VYear's high n
Low 4ifr?eiir'a low.. 3
TIME LOANS,
Mlxe<1 collateral, 60 to 80 days 4Vi#4\
Mixed collateral, 4 to 0 months 4>ifl
Industrials, no to 00 days 4MS4H
industrial*, 4 to 6 months 4H04%
COMMERCIAL PAPER.
Urst name*. 4 to 8 months
Other name*, 4 to fl months
DISCOUNT RATE*, RESERVE BANK.
Commercial paper, *10 days. 4V4; 00 to N
?lay*. 4H; Liberty bond* and Victory notia,
15 days, 4H; 1H to 00 day*, 4V4; bankers'
?? cfji'ancee, 13 to 00 days. 4Vt.
?Tlsad Novembar 3. Previous rats, 8,
fixed Haptembcr 21.
OPEN MARKET RATES.
Call loan* and acceptances 4^%
Discount rates on prime bankera' accept
ancea eligible for purchaas by radaral Re
? * rve banka:
Did. Ask. ' Bid. Ask.
pft days 3% 3H1 0? days 3% 3Vt
flO ? vs 3*1 3HI120 daya 3* JH
t I.EARING HOI'S* STATEMENT.
Clearing House exchanges, $750,400,000;
balances, $71,000,000; Fediral Reserve credit
Valencia, $3t>.000,000.
SILVER MA It RET.
Official bar silver In New York, domeattc,
M%o.,' unchanged: foreign, 05?4c., up V.;
London, .')X<4d., MP Hd.; Mexican dollars,
MHAc.. up
Bangs of silver prlcea this ysar:
Mishear. Lowest.
London , .Inn. .1 .'t'J'/itl.i Feb. 39
Ktvv ii'lli * .. -a.i IJ ' ? -. r'.l. L'P
FINANCIAL MEWS
AND COMMENT
Speculation Turns to Rail and
Traction Stocks ? Many
New Highs Scored.
Speculative endeavor switched rather
abruptly yesterday from
stocks to the railroad and the traction
groups, but In the first and last hours
of trading a pace almost as rapid as j
that of Thursday was maintained, and
many prices were carried forward to
I new high points for this year. Manu
facturing and oil stocks were by no
| means neglected and such issues as Mex
i ican Petroleum and Gulf States e .
I in which the floating supply was limited
| and the short interest substantial, gave
' pronounced demonstration of strengJ.
Net gains ran from a point to 4 points
I among more prominent shares, one or
two doing better than that maximum.
; The easy position of money continued to
fee an aid to operations for the rise ?
[adequate supplies of funds f?v call loans
were available at 4Vi P*' cent. a r * '
I which, near the end of a week of tre
j mendous buying of stocks, carried it.
j own suggestion of recent accumulation
i of money in New York.
The overnight news that the Inte
borough Rapfd Transit Company had
staved off receivership through arrange
ments to scale down fixed charge- or^U
Manhattan Elevated lease was natur.1y
a forecast of what would happen when
the security market opened. So anxtoue
were buyers to acquire Interborough
not
t'or- Vc.o.. U? .n..W
advantage was reduced ab?^ bgt?Ween
The significance of concessions between
T interests in the Interborough
Zluon ... ??. lessened
Ir'e?... W "??'?? ?<
SSZT-S .?
point advance. Holders of the B^ J ^
securities have been
growth of Its earnings in the la^
ZZZ. - <uU re^
f?. iduou. .no expeM'v? proc? ?
-"-t jsts. K-E
thought possible during ^
UlarScr on toJffuiure ^Interborough
a chance on the d them up 4
Metropolitan to
points to 18 d for Reading,
The marked deman .flc Uni0n
Pennsylvania. Sou Northwestern,
Pacific. Ch^.stern and other rail
Norfolk anJ Y^ment class showed
shares of taking due notice of
that the public was UK" 8 ^ ralIroad
business lmrroJ'e, _ thei,. facilities. It
plans for enlarging thelir^e Union Pa
ls such developing5,113 t29.000.000 for
clfic's decision t0 ,tB Une8
new equipment and addition outl00k al
whlch describe t ^ flgure8 of
most as completely * whlch do not
growth. Many rail shares wn
carry dividends wen ^ hour's out
and It was only in th ^ ^ ftn<1 ateel
break of activity vesterday's ses
lssues whl^,i^Cpretty well monopolized
slon from b?*"f Pr?t0ck8. The turnover
by transportation ?to much legg than
?f 1.555.0001 sha ,arge enough to
that of Thursui?.y. thl8 year.
put it in 8eco"? ^ condltlon on April 1
The wheat crop s under
showed it to be nearly 6 per c^ ^ U(|
the ten year average. lthln 14,000.000
yield promises to b? ,mat0 for 1921.
bushels of the fjni ? firmer yes
Wheat prices were ^ Thursday,
terday than 1th?* h a very narrow
Cotton moved thro g decidedly
range, speculation
light.
FOREIGN EXCHANGE.
FRIDAY, APRIL. 7. 1922.
(?KEAT BKITA1N.
rarity. Frl- Thurs
14.8048 Sterling: rtiy. day. Mar. 31.
Demand $4..19% $4"25^ 'i'SIv
Cables 4.89% 4.39% 4.37%
4.35%
4.34%
4.34 V,
4.32%
19.44
9.01%
9.02
8.40
8.401,4
19.40
19.42
B.27
6.27%
' .32"?
.32%
B.I 4%
5.16
.33%
.33%
20.00
28.05
17.70
17.75
21.or.
21.10
37.82
4.4SM
4 47
1(1.50
15.53
37.77
37.82
.05
.05%
.01%
.01%
.f>2%
.02%
Hankers, 00 dy. 4.36%
Bankers, 90 dy. 4.35
THE CONTINENT.
19.30 France, cents a Dane:
Demand 9.12 9.18
Cables 9.12',i 9.13%
19.30 Belgium, cents a franc:
Demand 8.45% 8.44%
Cables 8.46 8.45
19.30 Switzerland, cents a franc:
Demand ...r. .19.43 111.42
Cables 19.45
19.30 Italy, cents a lira;
Demand 5 2M'
Cables 5 29
28.80 Germany, cents a mark:
Demand 33% .32'
Cables 33%
28.80 Sweden, cents a krone:
Demand 20.10 28.00
Cables 26.10 28.05
28.80 Norway, cunts a krone:
Demand ......18.18 18.15
Cables 18 *1 l?-20
28.80 Denmark. cent* h krone:
Demand 2120 21.10
Cables 21.25 21.15
19.30 (Ireece, centa a drachm*:
Demand 4.53 4.53
Cables 4.55 4.55
19.30 Spain, cents a peseta:
Demand 15.52 15.43
Cables 15.54 18.48
40.20 Holland, cents a florin:
Demand 37.77 37.77
Cables 37 82
01.48 Russia, rents a ruble:
too rubles Oil
500 rubles 08%
20.28 Austria, centa a crown
Demand 01%
Cables 01%
23.80 Poland, centa a mark:
Demand 02%
Cables 02%
20.30 Hungary, centa a crown!
Demand 12 .11%
Cables .13 .12%
20.30 Jugo-Slavla, centa a crown:
Demand 31% .30%
Cables 33% .32
19.30 Finland, centa a mark:
Demand 1.94 1.95
Cables 1.95 1.08
20.20 Cu cho Plovakla. renta a crown
Demand TI.OO 1.80
Tables 1.91
19.30 Rumania, cents a leu:
Demand 71%
("sbles 72V?
$4.40 Turkey, centa a pound
Demand 88.00 68.50
Cables 70.00 08.50
FAR EAST.
108.32 Shanghai, cents ? tael:
Demand 73.50 73.50
Cables 74.00 73.75
78.00 Hongkot.g. cents a dollar:
Demand 51.50 54.50
Cables 55.00 55.00
48.68 Bombay, cents a rupee:
Demand 28.12';, 28.12%
Cables, 28.37V, 28.37%
49.84 Yokohama, cents r yen:
Demand 47 50 47.37% 47.80
Cables '?7.75 47.02% 47 75
HOI Til AMERICA.
32.44 Rio de Janeiro, cents a mllrels:
Demand 13.81 13 07 13.82'i
Cables 13.87% 13.75
42.45 Buenos Aires, i ents a peso
Demand 39.31 35.00
Cable 35.37% 35.00
103.12 Uruguay* cents a dollar:
Demand ......77 25 77.25
Cables 77.37% 77.37% 79.26
CANADA.
New York funds In Montreal. 325.09 pre
niluni a fl.ooo. Montreal funds In New York
V21."< discount a 11,000.
190
.71%
.72%
.08%
.06
01*
01%
.02%
.02%
.12
.13
?31%
.32'4
1 (MS
1 !>8
1.89
1 00
.72
.73
08.00
7000
73.75
74.25
54.3T%
54.62 Vi
28.00
28 26
13.70
30.00
30. or.
79.12'j
NEW YORK STOCK EXCHANGE QUOTATIONS.
FRIDAY, APRIL 7, 1922.
Day's salfc^;
y?UM.3-J r-CloiSi^ 1 iJlv.l
High.| Low, I Bid. I A-sk. |ln?.| Sale*.
1922.
1.566.792
1921.
363.450
1920.
1,217,488
Open- | High- Low
ing. | Hit. est.
t "loo-1 Net
Ing. |Ch'nge.
t!9
49
17%
1H
no
48
31%
13%
%
107 i !
07 I 68
47 47%
17 | 17%
%] %
109 112
55%; 67%! 07%
109 V4 1101 i 104 1100
48Til 37% i 48
94 | 86% 92%
70% I 65%) 65
57
31%
51
98%
32%
93% 103
141
7
19%
4%
12
08
78
77%
47
62%
107
49
104%
156%
13%
27%
6%
16
71%
114 %
82%
46%
12
36%
113%
90%
8%
15%
57%
98%
91
198
' 38%| 30%
74%! 54%
100 | 84
35%! 23%
124% 1114%
142% 1129%
138% 1126
76
46%
59
102
47%
155
12%
25%
6%
15%
69%
107
72 I *0%
38% I 45%
9%
29%
102
82
3%
5%
43%
86%
87
109%
102%
12%
31%
90%
34
B3
51%
r,7%l
Rl%
114%
100
89
3%
98
4%
21%
?4%
24
28 |
85
116%
-33%
60%
42%
3*:
i%
73%
11%
35%
112%
85%
8%
14%
55%
98
91
128
37%
72%
98
32%
121
139%
136%
96% 100
6
17%
78%
22%
47
29
43
75
99
91%
85
%
83
2%
13%
23%
16%
19% I
68
92%
33%
52%
19%
19%
%
51
11
29
88%
32%
52% I
48%
93%
66%
79
46%
60
105
48%
104
155%
12%
25%
6%
15%
69%
107%
81
45%
11%
35%
112%
86%
8%
15
55%
98%
92
181
38
73
100
32%
121%
140
137
100%
11%
29%
88%
32%
52%
93% | 90%
113
77%
8%
9%
69
24%
110
24%
23%
97%
104
55%
4%
8%
59
13%
100
6%
5%
70
48 49
55%! 56
80 i 81
113% H14 Vi I
98%' 98%
SS | 89%
2% 2%
97% 98
3% 3%
20% | 21
33% I 33%
23%' 24%
26
83
114%
43%
60
6%
84%
111%
43%
61
40%I 41
32% | 33
1
73',
1%,
73%;
91%! 93%
111 1114
77%! 77%
6% 8
9% 10
4%l 2%
53
130
43%
92%
34
6%
28%
14%
78%
55%
C5%
7%
140%
16%
50%
115
28%
87%
28%
5%
20%
10%
68
43%
83
5%
119%
11
3
29%
63%
32%
34%
47%
54
1%
3%
12%
31%
5%
14%
16%
29
59
30%
70%
68
21%|
106
23%
22%
93
4
56
69
22
108
24
23
94
4%
60
127% !127%
41% 41%
90% 92
8%
6%
26%
13%
77%
54%
94%
6%
139%
15
4% I
37%
72%
36
42
77%
64%
7%
17%
23
43%
8
19%
24%
40
72%
44
80%
29
6%
26%
13%
78
54%
96%
7
139%
15%
4 *
38 '
73
36%
42%
78
64%
8%
17%
23%
44
8%
19%
24%
40%
73
44%
81%
200[Adams Exp..
1001 Ad Rumely pf.
2100:AJax Rubber .
400:Alaska G M...
68
47
17%
%
68
47
17%
%
3001 All Am Cables. 1109 %|110
12300, Allied C & D
300 Al C & D pf...;
3600 Allis Chalmn-s
200
300
600
600
200
100
3600
500
400
400
700
3500
700
200
500
700
8500
1500
3000
4SG0
200
2600
3500
720O
Allis Chal pf..
Am Ag Ch pf.
Am Batik N...
Am Bosch M..
Am Br S & F.
Am B S & F pf
Am Can
Am Can pf....
Am Car & F..
Am Chicle
Am Cotton Oil
.Am Drug Syn.
Am Hide & L,
Am H & Li pf.
?Am Ice
?Am Ice pf...
Am Int Corp..
Atn l^a F F E.
68
47
17%
%
109%
66%
9
66%
74
45%
60%
103
48%
103%
155%
12%
25%
6
15%
69%
107%
81
45%
11%
Am ^Linseed .. 35%
93
66%
74
46%
Am l.,oco
Am Radiator..
Am Saf Razor
Am Ship & C.
?:ti Sm & Ref.
400,Am S & R pf..
100! Am Sm Sec A.
100!Am Snuff
6300 Am Steel F...
1600'Am Sugar ....
100 Am Sugar pf..
800iAm Sum Tob.
HOOlAm Tel & Tel.
1700; Am Tobacco ..
600 Am Tobacco B
200 Am T pf new.
] 001 Am W W & E.
100 AWW&E6% pf
18001 Am Woolen ..
3600]Am Writ P pf.
82001 Anaconda ....
500 Ann Arbor pf.
IOOiAsso Dry Qds.
100 As D G 1st pf.
?>nn Ahho oil
9100l Atch, T & S F.
300 A. T & S F pf.
900 At. Birm & Atl
600! Atlantic C L?..
1300|Atlantic Fruit
200|Atlas Tack
67 I ?8l
106% [106%; 106
48%1- 48%| 47%
93 i
67 |
77%!
? 46% |
60%, 60
103 |103
48%! 47%
103% 1103
155%I155%
12%! 12%
25%! 25
6 "81 6
15% 15%
69%: t9%
107
80%
45
11%
34%
111%
86%
8%
14%
55%
98
91
130
37%
107%
81
46%
12
35%
113
86%
8%
14% 15%
5% 57%
98 98%
91 | 91
130 1130
38 \ 38%
86%
72
98%
33
120%
139%
11500]A, Gulf & W II 33
600| A, G & W I pf
2900lAustln Nichols
14001 Austin Nich pf
15700! Baldwin L,oco.
13100]Balt & Ohio...
8001Bait & Ohio pf
ISOOiBarnsdall A...
1500 i Barnsdall B...
lOOlBatopilas
19001 Beth Steel
200 Beth S 7 pc pf
1001 Beth S 8 pc pf
206001 Beth Steel B
400! Booth Fish .
200|British Em St.
200jBrit E S 1st pf
300 Brit E S 2d pf
72%! 72%
98% 98%
33%I 33%
121%!121%
140% 1140%
136 1137% 1136
100% 1100%! 100%
11%; 11%! 11%
2X%| 28%
89%
34
52%
48%
55%
81
114%
99%
89
2%
98
3%
21 I
34%
24
27%
84
115%
43%
G0%
41%
33%
1%
73%
93%
112
77%
7
9%
67%
22%
28%!
89%
29%
52%
48%
55%
81
114%
98
88
2%
97%
3%
21
23%
27
82%
115%
43%
59%
41%
33
1%
73%
93%
112
76%
6%
9%
67%
22%
400 Brook Ed .... |104% 1105%
37700!Brooklyn R T.
13200! B R T ctfs
100 Brook Un Gas
900;Bruns T & RR
100!Buf. R & Pitts.
800 Burns Bros ..
500!Burns Bros B.
700 Bush Term pf
1200 Butterlck ....
700 Butte Cop & Z
400 Butte & Sup..
2200 Caddo C O&R
1300 Cal Packing...
2200 Cal Petrol ....
400 Cal Petrol pf..
3300 Callahan Z & L
4500 Canadian Pac.
100 Carson H Gold
100 Case (JI) PW
6700jCen leather ..
-^OO Cen Leath pf.
1400 Cerro de Pas..
100!Certain-teed ..
73001Chandler Mot.
3900iChes & Ohio..
2100iChl & Alton...
1600 Chi & Alton pf
1600]Chi & East 111.
. 8OO1C&EI eq tr cfs
7001 Chi Gt West..
1700jChi Gt W pf..
4200|Chi. M & St P.
6600[C. M & St Ppf
7400lChi & N W...
99100|Chi, R I & P..
300|C,RI&P 6pe pf
21%
20
93%
4%
53
128
41%
91%
28%
6%
26%
14%
78
54%
95
7%
139%
15%
4%
37%
36%
42%
78
65
8%
17%
22%
44
19%
24%
39%
72
41%
81%
24%
23%
93%
4%
53
128
41%
91%
29%
6%
26%
14%
78%
54%
95
7%
139%
15%
4%
38%
73
36%
42%
78%
65%
8%
17%
23%
44%
8%
20%
24%
40%
73%
44%
81%
88%
29%
51%
48%
55%
81
114%
97%
88
2%
97
3%
21
31%
23%
26%
82%
114%
42%
59
40
32
1%
72%
93%
112
76
6%
9%
67%
21%
+ 1
68
47
17%
%
110
67%
106
48%
93
67
77%
46%
60
103
48
103
155%
12%
25 % ?
6%
15%
69%
107
81
45% | +
11%
35%
112%
86%
8%|
14%! +
57% +
98%
91
130
38
72%
98%
33
121%
139%
187%
100%
11%! +
28%! ?
+
89
32%
52%
48%
55%
81
114%
98%
89
2%
98
3%
21
33%
24
26%
84
114%
43%
60%
40%
32%
1%
72%
93%
112
77%
7
9%
67%
21%
%
%
%
'%
2%
%
%
4%
1
1%
1
%
%
%
%
%
14
%
%
%
1%
%
*
%
%
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'%
1%
i
3%
%
%
%
1%
1%
"%
%
%
4%
%
"%
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1
%
%
2
%
%
1%
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1%
%
%
1
%
%
? %
+ 1
104% 1105%!+ 2%
21
19%
93%
4%
53
127
41
90%
28%
6%
26%
13%
77%
54%
95
6%
138%
15%
4%
37%
72
35%
42%
76%
64%
7%
16%
22%
44
8%
19%
24%
39%
71%
41%
81%
24
22%
93%
4%
53
127%
41%
91%
28%
6%
26%
13%
77%
64%
95
6%
139%
15%
4%
38
73
35%
42%
78
64%
8%
17%
23%
44
8%
19%
24%,
40
72%
44
81%
4%
%
%
%
%
%
%
%
%
%
%
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%
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%
2%
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83 %
51
53
15%
25%
54
72%
87%
41
24
38
64%
1%
5
55%
85
12
M
45%
108%' 91%
37%! 31 ^
67 | 52%
87%| 80
26% 8%
91 I 78%
19% 8%
40% I 15%
65%! 48%
119% 106%
119% 110%
94 %
64%
92
18%
29%
65%
89
92%
50%
31%
48%
85%
4
18%
78
111%
15
2%
63%
94%I 95
63%: 64%
93
17%
28
64%
88
49
31%
46%
83%
3%
15%
70% ! 71%
108?*I109
12% 13%
%! %
60V4l 61%
103% 1104
91%
17%
27%
62%
87
92%
48%
31%
46
83*
3%
15%
108%
28%
750
16C
21%
100%
18%
600
125
14%
86% 76%
12% 7
20% 11%
13% 7%
85% 75%
S.9 91%
108% 75
96 I 76%
17%' 11%
20% 12%
1 % %
37
64%
87%
22%
90
16%
35%
64%
118
115
107
25%
735
165
19%
84 %
12%
20%
67
103%
73%
164
13%
SI
94%
55%
90
65
186
8%
67%
79%
41% 34%
87 I 80%
30%! 26%
19% 12
80% 70%
40%! 31%
28%! 25%
14% 6%
90% 44%
95 90
10%
3%
70
97%
3%
5%
37%
1
3%
8%
17%
9%
80%
106%
4%
10
42%
4%
36% I 26
28%' 22
98 I 79%
18% 13%
76%| 62%
39%' 25%
si%| 68%
17% I 11%
79 I 60
52 ' 43%
71%' 69
20 i 12%
35 I 24
3 i %
21%! 10
41 I 84H
t%! n
37%
64%
88
22%
95
16
35%
64%
119%
116
107%
25%
740
165%
20
85
12%
20%
13%' 14
81%! 82
94 I 95
107 (108%
93%
16%
16%
%
66
102
72
161%
12%
78%
92%
39%
85
23%
18%
73%
40%
28%
12 y*
82%
87
2
17
8%
79%
106
I 3%
7
40%
4%
I 11
I 35%
27
97%
17%
76
37
80%
17
77
94
16%
17%
%
66%
105
72%
162%
13
79
92%
40%
86
27%
18%
73%
40%
29
13
83%
98
2%
17%
8%
80%
106%
?8
41
4%
?11%
35%
27%
98
17%
76%
37%
80%
17%
80
5
61
Xl2
47% I 48
64% 66%
18% | 19
30%! 31
%1 %
19% I 19%
39 I 39%
! 6 ! 6%
I -.1
500
600
100
6600
1100
300
200
100
600
94%
64%
92
17%
94%
62%
92
17%
27%
64%
87
92%
48%
30%
46
83
3%
lo
70%
94%
64%
92
17%
27%
64%
87
92%
48%
31 % | +
46%
83%
3%
15%
71
108%
13
%
60%
104
37
63%
87%| +
22% ?
90 | +
%
1%
3
%
+ 1%
? %
+ 3%
? %
%
%
%
%
15 ? 1%
63%
119%
114%
107 ?
25%
735
163%
19%
84%
12%
20%
13%
79%
94
%
%
%
1%
C.RI&P 7pc pf 94%
C, S P, M & O. 62%
c.sp.m & o pf 92
Chile Copper.. 17 %
Chino Copper. 27%
C, C, C & St T- 61% 64%
>C,C.C & StT, pf 87 87
Clu, P & Co pf 92% 92%
C00a-Cola .... 49% | 49%
10001 Col Fuel & Ir. 30%! 31%
500|Col & South... 46 ! 46%
2400|Col Gas & Elf. 83%! 83%
2500!Colum Graph. 3%! 3%
600lCol Graph pfTTf 15% 15%
1700|Comp Tab R.. 71%! 71%
llOOiConsol Gas ... 109% |109% |108%
2600:ronsol Textile. 12%I 13%! 12%
lOO Consol Distrib. %l %| %
900!Cont Can .... 60%! 62 I 60%
7000!Corn Prod Ref 104% 1104% 1108V*
6400ICoaden & Co.. 37%]' 37%| 37
22500!CrC/L.'iblo Steel. 60%! 64%l 60
400'Crticible St pf. 87% | 87% I 87
lOOOICub Am Suft.. 23 I 23%j 22%
500!Cub Am S pf.. 90 1-90 I 90
2000iCuba C SuKnr. 16%l 16%l 15
1800Cuba C S pf.. 35 | 36 I 35
6300'Davison Chem 64 j 64
300 Del & Hudson. 119% 119%
8100 *Del, T, A TV.. 114% 116
300'Detroit Kd Co. 107% 107%
800lDome Mines.. 25%! 25%
11! East Kodak .. 735 741
1400|Elec Stor Bat. 163% 166
300 Elk Horn C... 20 20
1000'End Johnson.. 81% 84%
5100 Erie 12% 12%
8400'Erie 1st pf.... 20% 20%
1200 Erie 2d pf 13% 13%
26000 Earn Play-Las 79% 82
.. Fam P-T.as pf1 94 94
800'Klsher Body...108% 108%|108
200 Fisher T1 O pf. 93%] 93% 93%
3300'Fisk Rubber.. 16%I 17 16%
1200[FrMport Tex.. 17 j 17 16%
600jGas, W A wis % % %
28900 Gen Asphalt.. 65% 67 65%
700]Gen Asphalt pf 102 103% 101%]108
600;Qen Cigar .... 71% 72%! 71%
600|Gen Electric.. 161 162% 161
47800:aen Motors... 13% 13% 12%
1800i*Gen Mot deb. 79% 79% 78%
200>G M (1 pf 7 pc 93 98 92%
900 Goodrich 39% 40% 39%
200 Goodrich pf... 86 86 85
300lGrnnbv OMAS. 27% 27% 27
3600lGrnv '& Hit vis. 18 19% 18
6200lGreat Sot pf. 72 74 72
110001Great N"r Ore 39 40% 39
lOOO'ureen* Can C. 27% 28% 27%
800 Ouan 8u*ar... 12% 12% 12%
64000!Gulf States S. 76% 83% 74%
lOOiGulf 8 S 1st pf 95 I 95 95
1700lHabtrshaw EC 2%) 2% 2%
lSOOHupp Motor .. 17% 17% 17%j
1100 Hydraul Steel. 8 8% 8
9100'Houston Oil ..! 78 80% 77%
2900 Illinois Cent.. 104% 106% 104%|106%|+ 1%
24001 Indlahoma ... 3% 3%
tOOlIndlan Ref ... 7% 7%
1400'Inspiratlon C. 40% 40%
22100'Interboro C .. 3% 4%
20P00|lnterboro C pf1 9 12
900 Inter Cnmont. 36 36
10200llnt Coif>b Eng
35%
64%
119%
116
107
25%
741
165%
19%
84%
12%
20%
13%
82
94
108
93%
+ 3%
- %
? %
+ %
4- %
+ %
+ 2%
16% ?
16% ?
%
66
? %
? 2%
%
300 Int Harv Co..
4900 Int Mer Mar..
12000 Int Mor M pf.
2800 Int Motor Tr..
900 Int Mot T 1 pf
2700 Tnt Nickel ....
100 Tnt Nickel pf..
2600'Int Paper
300:? int p pf stpd
7100 lnvlncihlf? oil.
6600!Tron Products.
6100'Inland Oil ft T.
800!jewel Tea ....
1600LTr?nee Pro* T.
18100!Kan A Oulf
36
27
97%
17%
75%
38
80%
17
79
48
65
3%
7%
40%
3%
8%
85%
27%! 26%
97% 97%
18%
76%
88
80%
17%
79
48%
65
72
162
13
78%
92%
40%
85
27%
18%
73%
40%
28%
12%
83
95
17% +
8% +
80 1 +
3%! +
7%
%
+ %
+ %
+ 3
- %
? 1
? %
? %
? %
+ %
? 1
? %
+ %
? 1%
+ 1%
+ 1%
?? %
+ 10%
2
.3
19%! 19%
28% 31%
%
18%!
8?%<
5% I
17%
74%
37
80
17
79
47%
65
18%
28%
%
19%! 18
89%1 M%
6% G%|
%'
40%
4%
11%
35%
27
97%
17%
76
37
80%
17%
79
48
65
/19
31
%
19%
89
6%
%
"%
1%
4%
%
"%
%
1%
%
%
%
4
%
Year to date...
1921.
44.168,058
rOlMUC.n
Bid. | Aek.
IDiv.l
8ales.
Open- | High-1 Low
ing. | e?t. | eat.
52%
34 %
61
254
154
110
44
43
10
264
26%
56<H?
91
153 4
150
38
41
32
3
17
5%
35
204
54
23%
22
594
11
134
106%
25%
11%
274
5
604
?%
7 4
244
16
434
63
12
194
10%
26
1
30%
7
3
134
54%
57
72%
51%
28
53%
96
12%
19%
13
96%
44%
38
34
74%
20%
11
27*1 27%
564
464
105
29%
184
137
53
60
16
32%
32%
63%
1104
166
165
15
13
42
57
46%
108
304
18%
139
53%
62
17
33
33%
63%
111
1694
1694
154
134
! 43
15141152
115*11164
8541 894
1941 204
43
594
38%
8%
41
24
62 4
284
154
28
314
64%
204
194
131
284
13%
344
10%
60
74
13%
434
60
39J4
T
42
244
62 4
28%
174
284
33
65
20%
194
1314
28%
13%
344
10%
64
8
13%
34% I 35
2341 23%
54 T4' 55
67
19%
314
164
414
37
10
5%
154
664
704
88
64
33
554
214
28%
16
106
57
424
6%
76
284
11J;
674
20
314
16%
42
24
374
114
54
15%
674
704
884
63
334
56%
21%
284
20
1064
574
424
7
764
2?%
124
71
41
1%
1.20
x5
3
5
I ..
7800jKan City So..
700;Kan C So pf..
29001Kelly Spr Tire
lOOjKelsey Wheel.
5500 Kennecott .
12300;Key Tire ft R.
1000
3800
400
Kresge (8 S).
Lack Steel .?
Laclede Qua
300 iL E ft West..
500 L E ft W pf...
800 Lee Rub * T..
24700 Lehigh Valley.
900 Lima Loco ...
100 Lig ft M Tob..
200 L & M T pf B.
1200 Locwb, Inc ...
800 Loft, Inc
200 LOose W Bis..
1400 Lorillard <P).
300 Louis ft Wish.
100 Alackay Coj
100 Mallinson & Co
7500'Man El guar..
1200:Man Elec St..
200 .Manhut Shirt.
1300]Market St Ry.
700jMkt S Ry 1 pf
1600lMkt S Ry 2 pf
25001-Mkt SRy prpf
llOOJMart-Parry
500]Marlin Rock
7400 Mar land Oil
700 Math Alk Wks
2800|Maxwell M A.
2900 Maxwell M B.
4400'McIntyre Por.
46100 Mexican Pet..
lOOOi Miami Copper.
6100|Mid States Oil.
80001 Midvale SAO
400 JH ft St L now
100 |M. S P & SSM
3001 Mo, Kan ft T..
33001 Mo. K & T w 1.
300|jM,K & T pf wl
6500'Mo Pacific ...
4900 IMo Pacific pf.
300'Mont Power ..
11400l.Mont W ft Co.
800!Mulllns Body..
100'Nut Acme ....
200! Vat Clo ft Suit
1001 Nat C ft Cable
3200! Nat Enam ft S
100! N R of M 1 pf.
600 N R of M 2 pf.
1600'Nevada Con C
3300'N Orl, T ft M
900)N Y Air Br..
4900 N Y Central..
100!N Y, C ft St L.
4600iN Y Dock..
1600IN Y Dock pf..
81 IN Y, L ft West
9300] N Y, N H & H
4900 N Y, Ont ft W
500]N Y Ship Co.
4700 Norf & West..
1300jNor Amer Co.
lOOINor Am Co pf
lOOlNor Am Co rts
133001 Nor Pacific...
400 J Nova So S ft C
lOOIOhlo P & B Co
? 1
-"%
? 1%
11041?
42% ! 424!
1514:150 '
1164
844
194
444
614
39%
94
44
4
+ 1%
? 14
+ 1*
+ "4
13241128
28%| 28%
13% | 134
344! 34
10*| 10%
62 I G2
7%! 7%
14 I 13%
35 I 34%
23%! 22%
5541 T4%
6741 674
2041 19%
32
16%
42%
374
11
54
15%
674
714
88%
64%
334
57
96
21%
294
19%
106%
574
424
7
764
28%
12
+ 4
12
2% 2>4 2%
12% 20 Vi 20 %
13 13%
62 6.1
31 Vi I 31%
8% 9
68 I 6SV4
14%
54
61
54%
13%
42%
10%
59%! 82
123%H23%
40% I 41
31%! 31%
101% '102
101 I 94 I 99% jlOO
25%! 19%: 24%! 25%
15% I 13% I 15% 15%
79%! 71%
48% 1 43
51%
42
41
*%
56%
87%
46%
!0%
45%
24
25%
4%
46%
74
43
8
60% I 46%
35% I 17%
78% | 78%
43 i 46
48
35%
34
7%
54%
78
46
17
60
28
49
35%
24%
7%
54%
79
46%
18%
60%
33
14% | 12% I 13% ? 14
30%! 20%' 30% I 30%
30%! 20%' 30 1 30%
44%' 32% 43%
6%' 1%| 4%
24%! 11%: 19%
4%' 1%! 4%
44
5
20
4%
?
11%
76%
13%
45
? 2%l 5%
11% 3% 11
77 59% 75%
23% 10% I 13%
45 35%! 44% _
26%! 18% 25%! 26
44 | 34% I 44% | 44%
77 65 70
57% 43 | 18
89 78% 88%
24 17%! 23%
55% 45%! 54%
183 1169 1173%
72
49
89
23%
55
175
115% 113% 114% 115
98% 91%: 98% "
80%I 68 I ..
40%I 24%' 89%
5t%! 33% 50%
119%! 79%
109 |100
7
6%
39%
5
11%
46%
46%
28%
35%
24
05%
80%
41%
12
45%
71%
20%
If 6%
74%
31%
73
14?
16%
35%
3C%
38%
70
10%
49%
?4%
65
105%
38%
98 %
lie
66%
17%
45
78% 67
94%i 43
11%
10%
3%
3%
26
3%
9%
42
38%
23
24%
14
57%
15
27
7%
32%
55
17%
125
71%
25
60%
119%
7%
20%
48%
16%
50
2%
87
55%
51%
117%
108
5
5%
39
3%
11%
44%
41%
27%
34%
22%
63%
28%
40%
9%
41%
61
18%
136
73
30%
69%
144
15%
38%
48%
36%
81
1.85
8
5.20
i
74c
97
75
40
55
117%
109
5%
5%
39%
4
11%
44%
41%
27%
34%
23
64%
29
41%
9%
43
62%
19
186%
73%
80%
71
146%
15%
38%
48%
8
8
f2%
1
68% 68%
32%
114%jl17
60% 65
6%
46%
63
58%
104%
87
97%
9%
30%
9%
6%
?
32%' 1?%! 31%
14 10% 12%
10%! 8% 10%
20% 13% 18%
88 I R1%! 58
!>!? ' 89 ! 98%
47%
68%
61
105 %
88
87%
117%
65%
16%
48%! 44%
76 78
45 ! 47
10% ? 10%
16%
9%
31%
12%
10%
19%
M%
99%
1100 Okla P & Ref
7200lQrpheum Cir..
5400 Otis Steel
li>OiOtiB Steel pf..
900 Owens Bottle.
200 Pac Develop..
900 Pac Gas & El.
200 Pacific Mail...
9500 Pacific Oil ....
20900 Pan Am P & T
4900 Pan A PAT B
900 Par A Bing...
12200 Penn R R
46000 Penn Seab St.
400 Peoples Gas...
3600 Pere Marq ...
200 Pere Marq pf.
400 Pere M pr pf.
1900 .Phila Co
200 Phillips Jones.
500 Phillips Pet ..
4100 Pierce Arrow..
800 Fierce Ar pt..
4000 Pierce Oil ....
300 Pierce Oil pf..
100 'Pitt Coal of P
100 Pitts Steel pf
5000 Pitts ft W Va.
200 P & W Va pf.
400 Pond Cr Coal.
500 Pr Steel Car..
500 Prod & Refin..
800 Pilb Serv N J.
800 Pullman
700 Pupta A1 Sug.
11000 Pure Oil
600 Pure Oli pf
16800!Pure? Oil rts...
7001Ry Steel Spr..
400, Rand Mines .
1200'Ray Con Cop
30700iRea/prcpr
300 Reading 1st pf
100 Reading 2d pf.
200iRemine Type.
11200 iReplogle Steel.
100 Rep Motor Tr
2100! Rep Iron A St.
400 Rep I A S pf
880O, Reynolds T B.
100 Robert Re la .
13500!Royal D X Y.
100 Rutland RR pf
100 St .Tom Lead...
7200'St L A 3 F...
17001 St Louis S W.
400 St L S W pf..
400 San Cec Sugar
400 Savage Arms.
3900'Saxon Motor .
1000'Heab Air Llns.
2400'Seab Air L pf.
3200 Sears Roeb ...
1000 Seneca Copper
1300'Shell Tr A Tr.
16700 Sinclair Cons..
2500'Kloss-S S A I
2800 H-B S A 1 pf-.1
400> So P R SurttT.
17800jSouth Pacinc..
9400 South Ry ....
3400'South Ry pf..
300iHtand Oil N J.
1900iSt Oil N J pf..
300 St Oil of Cal..
200 St ft Tube pf..
1100 Stew War Spd
7300'stromberg Car
28600 Studobaker
tSOOiStudebaker pf.
1500 Submar Boat..
900'Superior Oil...
2000 Superior Steel.
1000jSweets Co Am
1200:Tenn Cop A C.
9400<Texa* Co ....
1200!Tex A Gulf Sul
8200 Tex Pac C A O
SfiOO'Texas A Pac..
8400 Third Ave ....
3300'Toh Products.
200 T,81>AW cfs B
200 T.S1.AW pf c B
8600 Transcon Oil..
lOOiTr ft Wms St..
300 Un Bag ft P...
1900! Union Oil
7600 Union raclflc.
300 Union Pac pf.
400' United All St.
29O0!l'nited Drug..
lOOOUnlted Fruit..
6100[Un Ry Invest.
1700 Un Ry Inv pf.
6800'Un Retail St..
1600 U S C I P ft F.
200 U8C1P#F pf..
200 IT S Food Prod
2?00|U S lnd Alco.
1000 U S H ft Imp.
4000 U S Rubber...
100 U S R 1st pf..
400'U S R A M.
24200 U S Steel
300'U S Steel pf..
3700'Utah Copper..
9600 Utah Secur ...
98001Vanadium ....
100iBa-C?r Ch pf.
100'Va Ir. C A C..
8200iVlvaudou ....
12C0 Wabash
5200 Wahash pf A..
800 Webar ft Heil.
800 Western Md ..
700 Wf Htrrn Pac..
ROO'West Par pf..1
40O.Wesf Un Tel .*.
2%
18%
13
62
31%
8%
68%
14%
54%
60
54%
13%
42%
9
82%
29%
67%
71
38%
94%
36%
20
40%
9%
55
61%
90
31
81
17%
77
27
85%
123%
40%
31%
101
1A
99%
26%
15%
78%
45
48%
35%
34%
7%
54%
78%
45%
18%
60%
33
14
30%
30
43%
4%
20%
4%
5%
11
76%
13%
44%
26%
44%
70%
50%
88
23%
51
175
114%
96%
75
40%
49%
117%
109
5%
8
89
4
11%
45
41%
28%
34%
20%
63%
28%
41%
9%
42%
82
18%
135
73%
31%
69
146%
16%
35%
49
37
68%
5%
47
62%
88%
105
88%
97%
117
65
16%
44
2%
20%
13%
62
31%
8%
68%
15
54%
61%
55%
14
43
/10%
82%
29%
67%
71%
39
94%
? 36%
20
40%
9%
? 55
61%
90
31%
? 81
17%
77
27% I
. 85%!
123%|
?40%:
31%!
101%:
1%I
100 !
25%!
15%!
79%!
45%:
48%!
35% I
34%
54%
78%
46%
18%
60%
33 I
14 I
30%'
30% 1
44%
4%'
20%!
4% I
6 I
11%
76% |
13%
45 I
26% I
44%!
71 !
50% I
89 {
24
55%
175
114%
97%
75
40%
51%
117%
109
5%
6
39%
4
11%
45
41%
28%
34%
28
64%
28%
41%
9% |
42%J
62
19%i
186%;
73%:
31%
71 I
146%
16%
35%
49%
37 %
68%
5%
47%
63%
64%
105
88%
98%
117
65%
17%
44%
2%
18%
12%
62
31
8%
68
14%
53%
59%
53%
13%
42%
9
82%
29%
67
71
38%
94
36%
19%
39%
9
3%
20%
13%
62
31%
8%
68
15
54%
61%
54%
13%
42%
10%
82%
29%
67
71%
38%
94
36%
20
40
9
64%| 55
61%
90
80%
81
17%
76
27
61%
90
31
81
17%
76
27%
84% | 85
123 1123%
40%! 40%
30%' 31%
101 !101%
1A! 1A
99%I100
77%j 77%
45 45
10%l 11 %|
9%! 9% I
31%' 81%I
12 I 12%!
io%i io%:
|a% i?%,
M% M%l
IH'41 99
1%
%
2
%
%
%
"%
%
%
%
i%
%
%
%
%
%
l
"%
%
%
%
l
5
- .%
? %
+ %
? %
+ %
? 1%
? %
+ %
25
15%
78%! +
45%! +
48% +
35 %!?
34 I?
7%j?
54% +
78%
46
18%
60
33
14
30%
30
44
4%
20
4%
5%
11
76
13%].
44%! +
25%:?
44% +
71 | +
49%
26
15%
78
45
48%
35%
33%
7%
53%
78%J
45V
18%
59%
83
14
29%
29%
43%
4%
20
4%
5%
10%
75%
13%
44%
25%
44%
70
49%
87%
23%
63%
174
114%
96%
73
39%
48%
115%
108%
5
5%
38%
4
11%
44
41%
27%
84
20%
63%
28%
41%
9%
42%
62
18%
134%
73%
31%
69
146
15%j
34
47%
36%
68%
5%
45%
62
63%
105
37%
97%
117
65
18
42%
77%
45
10%
9%
81
12
10%
19%
M
89
23%
54%
174
114%
87%
73
39%
51
117%
108%
5
5%
39%
4
11%
44%
41%1?
27% ?
34%.
23 +
64 ?
28%
41% +
9%
42% ?
62 I
19 +
136% +
73% ?
31%
70% +
146 ?
15% ?
84
48%
88%
68%
5%
47%
63%
63%
105
!?3
117
85 I
18% +
44%| +
77%i +
48 I
10% +
9 % I?
81%
12%
10%
19%
%
1%
1%
2%
%
%
%
%
%
1%
%
2%
%
1%
%
%
%
%
"%
%
1
2
1%
1
%
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%
+ 2%
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- %
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1
%
%
%
%
1%
%
%
1%
%
%
%
%
%
'%
%
%
'%
%
TOHCS OF WILL STBEET.
Rail* awing Upward.
Whtn traders turned their attention j
to ths transportation group dealings as- ;
sumed tne aspect of an oldtlme railroad
market. Standard Issues, sucn 43 Pena
sylvanla, .Southern Pacific, Union Pa- j
eiflc, Heading, Chicago and Northwest
ern. Norfolk and Western and Illinois
Central want to new high lavels. Mora j
than 79,400 shares of Rock Island ?
changed hands at 41% to 41. The basis
of tha move was extraordinarily good
current railway earnings and the pros
pect of prosperous showings expected
In the latter half of 1923. less he*d being ,
paid to lsauea of wages and rates pend
ing before the Railroad T.abor Board
and the Interstate Commerce Commis
sion and the Influence of that clause In
the Transportation act under which tha
Government may recapture earnings 1ti j
excess of ? per cent, on railroad prop- !
erty investment for the benefit of weak
carriers.
The Last Hour.
Traders have come in the last few
days to take last hour violent advances
as more or less a matter of course. In '
fact many commission house traders!
sat Idly by watchinpr the ticker most of
yesterday and bought stocks about an i
hour before the close to catch the last i
hour jump which they were confident
would come. The final demonstration
In Gulf States Steel vesterday com
pared favorably with I t of Thursday
In Mexican Petroleur Traders are
wondering what stock will be picked
out to lead the last hour advance
to-<Jay and Monday, Ac.?If such ad
vances come.
)
Crucible Steel.
The short interest In Crucible Steel,
which has been in about the same posi
tion for weelv past, suddenly found
itself rather uncomfortable yesterday. '
Operators responsible for the move
ments of the stock decided that the
time was ripe for a bit of squeezing and
proceeded to squeeze. Tt was reported
after the close that a large demand for
calls on Crucible appeared In the New
street market, but that it went unsatis
fied for the most part.
Gulf States m Feature.
The same group which created a few
weeks ago a sensation by strong-arming ;
Gulf States Steel up the price list for a
total of more than 20 points in a day
decided to get busy again yesterday and,
after warning everybody within range
to get out of the way. started. None of
the big fellows In the Street can say
that he was shot In the back or any
thing like that as the group sent a sheaf j
of telegrams around to various wire
houses and others before the opening 1
advising them of a big move in Gulf
States and urging them to get aboard.
In most cases the telegrams were thrown
into waste baskets with a shrug. When
the market opened, with Gulf States up
4 points over night, those who had .
thrown away their messages pricked up ?
their ears and within a short time, on
good sized trading, Gulf States had ad
vanced to 78, a gain of nearly 7 points.
Then came a lull, followed by more
heavy buying, which carried the stock
to above 83. the closing mark, with a
net gain of more than 11 points. A
levsr used in putting the stock up was
circulation of the story that the com
pany's banking Indebtedness had been
nearly liquidated.
Allied Chemical.
The sharp reaction in Allied Chemical
shares yesterday morning was a reflec- ,
tion of the rather poor earnings state
ment for 1921. Traders failed to analyze
carefully the corporation's balance
sheet, however, which showed cash and
cash assets of close to 130.000.000, with
more than >11,000,000 of bank loans en
tirely paid off. Insiders in the company
declare that even that statement falls
to show the company's pr?Mnt position.
Since January 1. they declare, business
lias Improved to such an extent tha# a
balance sheet struck at this tlino would
appear far better than that for the end
of the year.
Call Bfoaejr.
Call money ruled at per cent, al)
day in the New York Stock Exchange
yesterday, while outside loans were of
fered for as low as 4 per cent. In the
time money market there was a fairly
good demand for ninety day paper at
per cent.
Frisco's Annaat Meeting.
In the St. Louts-San Francisco Rail
way's annual meeting, to be held in St.
Ix>uls on May 9, its stockholders
will be asked to approve corporate
adjustments In respect to small lines,
which It owns through stock owner
ship. These proposals will cover Its
purchase of the West Tulsa Belt
Railway and the purchase by the Kansas
City. Fort Scott and Memphis, the stock
of which Is held by the Frisco, of the
railroads and other properties of the
Tyronza Central and the Bonnervllie and
Southwestern railroads. Approval of
all action taken by the Frisco's directors
and executive committee since the com
pany's organisation will be asked. The
last named proposal arises out of the
expiration of the company's voting trust.
Rail Labor Board.
President Hardin*'* reappointment of
Col. J. H. Elliot, A. O. Wharton and G. j
W. W. Hangar as member* of the United
Statea Railroad I>abor Board effectively
remove* the possibility of delay In decid
ing pending ware controversies through
the entrance of new men In the board'a
membership In the opinion of local rail
road offlclala. Belief that the board will
hand down Ita decision on tha pay of
ahop men, maintenance of way worker*,
clerk* and telegraphers about June X
and* that speedy consideration also will
be given to submissions covering em
ployees in train and engine service pre
vails. Meanwhile Washington Is ex- I
pected to name a successor to Albert
Phllllpps, labor member of the board,
whoae resignation will become effective
on April 15.
_______ ( |
9. S. KRESGE COMPANY SALES.
Although the -March sales of the S.
9. Kresge Company show a decrease to
3.47 per cent, leas than thoae of a year
before, Ita aalea of this year'a first
quarter Inoreaaed 4.M per cent, com
pared with thoae of the first quarter
ef 1921. IU aalea of the flrat three months
of 1*22 were 111,?41.546 against 511,325.
174 in the corresponding time of 1W1 and
Ita March sales were 54,450,949 In con
trast to f4.442.!23 in that month of last
year.
EXPORTS FROM SiEW YORK.
Eaports from Nsw York yesterday. Wheat,
bmhels, 3.12.OOO; corn, bu?h?ls, *xa4a; oatt,
bushels. 280,157: rye. bushel*, 4.1.1*1. flour,
?ark*. 72,57#, rornmral, bbli., 2.ISO; hop*,
hale*. MO. alcohol, bbls., 175: bacon*, lbs.,
A3J.OOO; lard, lbs., .1M.790; lubricating oil,
gallons, 131,tHH>. ?
Q
Huntington Jackson & Co.
Railroad
Bonds
43 Exchange Place
New York
$14,121,623 DEFICIT
BY NEW HAVEN IN '21
Finns Progressing for Euro
pean Loan to Take Up
Outstanding Debts.
The fiftieth annual report of the New
York, New Haven and Hartford Rail
road Company, covering operations In
1921, shows a net corporate deficit of
114,121,623 after charges and taxes con
trasted with a final deficit of 14,621.006
In 1920. Government guaranties were
credited amounting to $1,306,012 in 1921
and 122,798,519 in 1920. Comparisons iti
the income account are:
1921. 1520
Gross receipts $116,40.1.233 $123,M2.3}0
Kxpen.xes and taxes . 110,81)1,292 130,862,24.-.
Operating Income.... B.513.041 ?7,34t',K!5
Non-operating income 7,-ltUi.SlO 1"?
Total income 12,079,756 .">76.-10
Fixed charges.. 28. .'JOB. 391 27,900.2.14
Deficit 15.326,635 27,420,084
*Gov. guar. credit... 1,20(1.012 22,798,Sj?
Net corporate deficit 14,1 ?1,623 4,<>21,&0.">
?Deficit, tGovernment guaranties In 19-0
included Federal compensation for tjvo
inonths and guaranty for six months. The
figures against that Item In 1921 cover lap
aver ltemn audited during the year but
applying to the Federal control and guaranty
periods.
Referring to the plan for extending
the company's European loan, E. J.
Pearson, president, said It is confidently
expected that if the plan be carried
through the company will be able to
take care ?f the debentures and other
obligations maturing between the end of
1922 and 1929. He added that the physi
cal condition of the property, except for
an increase In the number of freight
cars in bad order, was about the sanv
as at the end of Government control.
He aald the management was giving*
close attention to the New Haven's op
erating problems as a terminal carrier
and expressed the hope that success
would attend efforts directed toward a
more equitable division of the rates on
freight interchanged with the trunk lines.
Drawing attention to the Inroads on
railroad traffic made by motor trucks for
short haul, less than car load tonnage.
Mr. Pearson declared little progress
could be made toward combating th!<
competition pending ttie development of
taxation and regulation of the operation
of motor truck*.
Virtually all of the New Haven's trol
ley lines showed Improved earnings.
Negotiations looking to final settlement
of the road's accounts with the Railroad
Administration are approaching their
final ?tage.
The number of passengers carried one
mile in 1921 was 1,891,343.238. an ln
creaee of 27.71 per cent, over 1915, which
Increase was handled with a reduction
of 6.79 per cent, in passenger train
miles. The total tons of freight carried
one mile In 1921 was 2,733,975,968, an
increase of 10.2 per cent, over 1915. Tax
able valuation of the property in New
England Is cloae to $6,000,000,000.
FRENCH IMPORTS INCREASE.
February Flgarci 1,000,000 Tons
Ahead of Tkow of Jinnary.
Washington, April 7.?French im
port* In February were nearly 1.000.OP"
tons greater than they were in January
snd continued to exceed exports, th??
Department of Commerce was advised
to-day in :i dispatch from Commercial
Attache Huntington at Paris.
Imports in February were 4.127,0*0
metric tons, valued at 1,847.02*. 0O0
francs, against 3,395,873, valued a'
1,487,6."2,000 francs, In January, Ex
ports In February were 1.519,880 metrl ?
tons, valued 1.853.312,000 franc*
sgainst 1 "" >4, valued at 1,638,741,000
franc January.
(E.VTl'RY OIL COMPANY.
The Century Oil Company of Mary
land, transfer agents of which are the
Guaranty Trust Company of New York,
the Pittsburgh Trust Company and th
Guaranty Trust and Savings Bank of
Los Angeles Is In no way connected with
the Century Consolidated Company,
charged by the Federal authorities with
using the mails to defraud. The Cen
tury Oil Company is a producing or
ganization with large holdings through
out the Mldcontlnent field and In
California.
FINANCIAL NOTES.
Alfred K. Carller has been elected presi
dent; l'aul A. Muylle, vice-president: J. V.
Bafidas, vict-praMtnt and treasurer: E. J.
Arghls, secretary, end Walter O. Lowe a
director of the Consolidated Belgian Linen
Mill*, Inc
To facilitate moving Into Its temporary
quarter*, !*> Will street. during the erection
of It* r?e*' building, the New York Ootton
Exchange's managers have made April 2# an
oxtra Pii-hsnire holiday The exchange will
be closed on Good Friday and th* Saturday
following,
Joseph Hedgpeth of Iledgpeth It Co,
Oreermboro, N. O., and Littleton C. F. Ham
l.ley of Hatnhley Rroa* fillebury. N. C .
ha*e b?en electot to ineftV.?wllp la tha Ne*
York Cotton Exchange.
A L. Mawley, formerly In 40 Cedar street,
and Oustav L. Stcwurt, Jr.. formerly In 71
nrosdwsy, have formed a partnership wltli
offices In tit Tlrnadwny, to conduct a general
bond brokerage business.
McDonnell * Co., members of tha New
York Stock Exchange, have Issued tliclr
April bond circular of municipal, foreign
government and corporation bonds, yielding
4.24 to 7.B0 per cent.
IM2. ,1 r-Clo?lnf?i Dlv.
h.l Uw. Bid. I A?k. In?.
Open- High
)n?. e*.
Low-1
MM.
cios-l Ret"
Ing. |Ch nt*.
%
4?H
65 I
12%:
26
7Vi
1-tOO
61%
66
9%
30
42%
??i
II
4%
24
27%
187
43%
64%
fi
15%
8%
29
41
162%
52%
71
8%
61%
6!>%
9%
20%
43*
10
12100 West El & M.
200 WMt EAM lpf
900 Wheel ALE..
300 Wh * L E pf.
1700 White Motor .
2000 Whit? Oil ?
1001 White Oil ru?
I 1BV4 is*; I 1600 Wlok Spen St.
3100 Willys Over ..
700 Willys Ov pf..
100 Wilson A Cj. .
700 Woolworth ...
500 Worth Pump .1 63* 531,4' 52%
200 Worth P pf B.I 72 72 ' 72
100| Wright Aero..I 8% 8%j 8%
Ex rtiv. tKx rights, tin scrip, x Part stock, e In stock.
tfOTf!?Onrt lot tmn.??fletlf?ns ar?? not ro orHed In separate line
were mads at prlco outside of the regular lo* rung*. .
I
15%
8%
39%
41 % 1
164 !
53
72 '
9 |
62%
69*
9%
20
42%
10
%
15%
8%
40
<1%
161%
F'3%
72
8%
62%' 61%
69% 69%
9%i 9%
20% 20
43% 42%
10 i
15%!
9 I
41
41%l
163
?%
%
16**
8%
88%
41%
1?1
62 | +
69% +
9%!+ %
20% + ?|
43% | ..
9%!- %
% ..
15% + '?
8% ? %
38% ? 1%
41 % i- ..
|1?3 |+ 2
52%? %
1 n > + l
I 8%!+ %
f Part e*tra.
unless flfilw