The New York herald. [volume], April 11, 1922, Page 17, Image 17

About The New York herald. [volume] (New York, N.Y.) 1920-1924

Image provided by: Library of Congress, Washington, DC

                
UNFILLED STEEL
ORDERS INCREASE
March 31 Total 4,494,148
Tons; Largest Since Sep
tember; Gain of 353,079.
The unfilled orders on the United
States Steel Corporation's books on
March 31 were 4,494,148 tons, the
largest since September, and an Increase
of 353,079 compared with those of a
reonth earlier. Tlie report was a com
plete surprise to Wall Street and the
steel Industry. A big Increase had been
expected, but estimates of its extent
ranged around 250,000 tons. Railroad
buying was a very large factor In the
sharp upturn. During the Quarter about
70,000 car orders, or approximately
three times as many as those of 1921,
were placed.
Of the big total of unfilled tonnage,
about 240,000 tons were placed on the
last day of March, according to Informa
tion obtained yesterday. All of it was
for railroad equipment. The railroads
had received from the equipment com
panies bids based on 1.35 cent a pound
for steel, and those companies were
notified by the corporation that the
price would be Increased on April 1 to
1.50 cents a pound. For that reason
the orders for steel for car building,
v.liich It had been intended to hold back
until April 10, poured Into the corpora
tion's offices on the last day of the
month, accounting for close to 70 per
cent, of the Increase.
Tl\e following table gives the monthly
ft ports of unfilled orders on the books
of the corporation for the last two
years:
1022 1921 1921
Jail 4,241,678 7,573.164 0.28.",.441
Feb 4,141,069 6,9.13,867 9,.">02.081
Mar 4.404,148 6,284.765 9,982,07.1
April 5,845,224 10,359,747
Mas' 5,482,487 10,940.4f>?
?lime 5,117,868 10.978,817
Jitlv 4,830,324 11,118,468
Au3 4,531,920 10.805.0.18
Sept 4,5?0,?70 10,."574,804
Oct 4,286,829 9,83(1,852
Nov 4,250,542 9,021,471
Dec 4,268,414 8,148,122
EMPIRE STEEL TAKEN
OVER BY REPLOGLE CO.
Leonard Peekitt to Head
United Organixtttions.
The Replogle . Steel Company an
nounced yesterday that It had acquired
the Empire Steel and Iron Company,
and Leonard Peekitt, the latter's presi
dent, will be president of the Replogle
company. In the announcement making
public the merger the Replogle company
said:
"By this transaction the Replogle
company has added to Its producing ca
)>:icity pig iron to the extent of 250,000
tons a year, bringing up its total pro
ducing capacity to 600,000 tons. In ad
dition to large holdings of ore already
owned by the Replogle company, it has
acquired very large ore reserves and
operating mines, which, added to Its
present holding*, competent experts esti
mate, will amount to upward of 150,000,-'
000 toxin, giving the company practi
cally an unlimited supply of high grade
ore. By tills purchase the Replogle com
pany acquired a controlling interest In
the Mount Hope Mineral Railroad."
FEWER STEEL SHARES
If ELD BY INVESTORS
Decline Shown for First Time
in Two Years.
Knr the first time in two years the
investment holdings of the common stock
:>f the United States Steel Corporation
show a decline, and the speculative
holdings, or the floating supply in the
Street, an increase. As of March 31,
r.014.312 shares were In the hands of
investors and 1.188,713 held by brokers.
Those figures represent 77.01 and 22.90
per cent, of the total stock, respectively.
Three months ago there were 3.993,067
h ires, or 78.56 per cent., in the hands
of investors and 1,089.9.">8, or 21.44 per
' . nt., credited to brokers.
The foreign holdings of the corpora
i inn's common stock on March 31 were
:.'S0,132 shares, or 5.51 per cent, of the
--nr. contrasted with 280.026, or 5.50
injr cent., three months before. "At the
end of 1920 the stock in foreign hands
iras 202.835. or 5.76 per cent. None of
the foreign holdings, as classed by coun
tries. shown any important change in
fhe quarter Kngland hps 167.307
'?ares, against 167.752 at the end of
TV,-ember; Holland. 50,755, against 50,
T'l: Canada, 31,0"2, againxt 30.855;
'?rncc, 13.455. against 13.210; West
inllcs. 3.507, against 3,502; Austria,
'.ISO, against !.438; Helglunn 2.199,
."gainst 2.279 ; Switzerland. 2.130, against
" isn, and (iermanv, 1,685, against
J 39T
PI. * V TERM IN A I, IHPBOVF.MENT
* hnut 150.000,000 will he spent in Im
; i.vement of the Dearborn Stre.-t
Stat inn in Chicago If pending plans be
irrfi'd out. Of thirty-Seven proponed
li.icks, nine would be for suburban I
?r;>lttc. The roads interested include the
Chicago and Western Indiana, the
\tchlnon. the Wabash, the Monon. the
Krie, the Chesapeake and Ohio and the
Chicago and Kastern Illinois. Invita
tinns to Join in the use of the Improved
ieimlnal will be Issued to the New York
C< ntral and the Rock Island, which oc
i t.py the L,a Salle Street Station, and
in the Baltimore and Ohio, the Pere I
Marquette, the Roo and the Chicago
Great Western, which use the drar.i
C. r.tral Terminal.
IMIRT INCREASES PRODUCTION.
The Dort Motor Car Company is In
< leasing itn production at the rate of
."<00 cars a month. For May a produc
tion of 2,000 cars Is planned. Thus the
company has been enabled to reduce Its
inventory account to a material degree
and it is stated that by June 1 its In
vi ntories w ill iiavo been reduced to
nbout $800,000 and the company have
the use of more than $1,000,000 In cash
as s. result of the process. When the
digression In the automobile Industry
vas at its worst last summer the com
pany hod approximately $2,000,000 in
Inventories on hand.
THREE OIL COMPANIES REPORT.
The consolidated balance sheet of the
Standard Oil Company of California,
tl.'j Richmond Petroleum Company and
'.Ve California Company for 1921 show*
a profit and loss surplus of $134,679,53')
in contrast to $122,3?3,706 in 1920. The
1 ti?0 figures, however, do not include
these of the California Company. The
rush totals $4,327,003, against $3,689,
7T4 In 1920, while notes and accounts
receivable were $15,436,173. against
$1 >,134,229. Inventories were $54,288,.
6 .9 In contrast to $42,895,260. Accounts
payable were $5,807,434, against $12.
JUi',675.
NET INCOME $l,()30,:i6il,
A net Income of $1,030,365, after
charge* and taxes but before providing
for depreciation ?nd depletion, is shown
?u the Panhandle Producing and Refin
ing Comnpny and subsidiary companies
in iltelr consolidated Income account for
1921. The profit and lo*s surplus, after
charging for depreciation, depletion, pre
ferred rtock dividends. Ac., was $3,773,
5"?. Groan earnings totaled $4,810,172
Sound Banking
A Bank for
the Builders
of Business.
requires constant, con
scientious devotion to
the service of sound
business.
GARFIELD
National Bank
FIFTH AVFNUE
whim 23 rd Strut
4romks ?roaowav
REVENUE FREIGHT CAR
LOADINGS SHOW GAINS
Total for Week Ended on!
March 25 Up 22,666.
Cars loaded with revenue freight In
the -week ended with March 25 were \
846,035 cars, an Increase of 22,666 tn a j
week, according to reports received by
the American Railway Association's car
service division. They represented an
increase of 159,468 comoared with those
of the corresponding week of 1921, but
were 49,351 lrs? than those of the cor
responding week in 1920.
Increases ir.. the week were due main
ly to heavier coal movement in antici
pation of a miners' strike and gains In
miscellaneous freight, which Includes
manufactured products. Coal loadings
were 204,5S6 cars, or 13.903 more than
those of the preceding week and 83,207
?moro than those of the corresponding
week in 1921. \
Freight loadings by weeks since the
middle of January are shown with thos<
of the corresponding week in 1920 and
1921 in the following tabulation:
Week t>nded? 1022. 1921. 1920.
March 25 84?,035 ?8fl,r.?7 895,386
March 18 823.389 ?91,30rt 8D.r>,080
March 11 829.128 700,440 819.329
March 4 803,256 711,."B7 811,10fi
February 25 735.28H 600,242 783,295
February 18 780.924 892,007 772,102
February 11 788,412 . 8K7.KB7 786,833
February 4 733,888 M19.718 7H2.B80
January 28 743,728 701 .KO", 803,332
January 21 738,275 708,658 S04.8H6
Compared by districts. Increased load
ings for the week ended with IMarch 25
were reported In all commodities in all
except Northwestern territory.
NEW UTILITY COMPANY.
Several Concerns Consolidated as
Tennessee Electric Power.
The formation of a new public utility
company, to be known as the Tennessee
Electric Power Company, through the
consolidation of the Chattanooga and
Tennessee River Power Company and
the companies controlled by the Tenessee
Railway Light and Power Company, was
announced here yesterday.
Owners |of the 5 per cent bonds of
the Tennessee Power Company, the re
funding and extension 5 per cent, bonds
of the Nashville Railway and Light Com
pany and of the 5 per cent, bonds of the
Chattanooga Railway and Light Com
pany are offered two options for the ex
change of their holdings:
CI) Six hundred dollars In cash, $200
of 6 pet cent first preferred stock of the
new company and four shares of the
common stock of the new company for
each >1,000 bond owned; or (2) $600 in
6 per cent, series A first and refunding
mortgage bonds of the new company
and $400 in 6 per cent, first preferred
stock of the nerw company in exchange
for a $1,000 bond.
Concerns Interested in the deal include
Bonbright A Co., Inc.; H. M. Byiies<by &
Co., E. W. Clark & Co. and Hodenpyl,
Hardy & Co.
LIBBY, H'NETL & LIBBY PLAN.
Complete Capital Readjustment Is
Comprehended In Project.
A complete readjustment of the capi
tal of Llbby, McNeil & Litoby is planned.
It comprehends first the reduction of the
capital stock and then Its Increase, with
a division Into two classes of stock. A |
special meeting of stockholders has been
called for April 26, at which time it is j
proposed to authorize the reduction of j
capital stock from $27,000,000 to $6,750,- ,
000, giving present stockholders a share ,
of new stock for three shares held.
When that reduction shall have been
accomplished. It Is proposed to Increase
the capital from $6,750,000 to $51,750,
000, to be divided between $25,000,000 of !
$100 par preferred stock and $6,750,000 :
of $10 par common stock. The preferred
stock Is to be offered stockholders for
subscription and will carry a 7 per cent,
dividend.
Bibrnek A Wilcox Reports.
The Babcoc.k * Wilcox Company re
ports for 1921 a net Income of $1,394,598
after charges. Federal taxes and Inven
tory adjustments, or $9.29 a share
earned on the 150,000 shares of Its cap
ital stock. In contrast to a net Income of
$2,207,803, or $14.71 a share. In 1920.
The company's gross profits were $2,
101,061, against $4,281,866. After pay
ment of dividends there was a deficit of
$105,042, In contrast to a surplus of
$707,803 In 1920. The company's profit
and loss surplus was $10,993,511, against
$11,098,553.
A Valuable
Guide
to sensible saving and
sound investing is our new
booklet
"The Guaranteed Way
To Independence**
Write, phone or call for
a copj, mentioning H. 101
HOME TITLE
INSURANCE COMPANY
Capital and Sitrplus Over $1,300,000
51 Willoughby Street, Brooklyn
Bank of Manhattan Building, Jamaica
T. N. SIMMONS,
Specialist In the Buying, Selling or
Relocating of
Established Manufacturing: Plants
throughout the United States and Canaii*
301 NEW VICARY BUILDING.
CANTON, OHIO.
GERMAN OJf WAY MERE.
A shipment of $1,687,932 In jrold In
German marks and bullion Is due to
arrive In New York around April 13 on
board the Stockholm, according to-yes
terday's announcement by the National
Bank of Commerce In New York. The
bank la the conalfmee. The transfer Is
one of several of German *old In
moderate amounts reported this year.
STOCK EXCHANGE TRANSACTIONS
^15527?
Hltti.l Ii?w.
Cnntlnned from Preceding Pw.
jOpen- i High-* l.n"w-_r?'Toir
I In*. m?. I r*f. | In?.
42%
82
114%
80%
9%
30%
27%
67
67
6%
6
19%
10%
8*
13 I
13*
51%
89 i
80
4*%;
55 I
? !
12V,
25 !
7*
13 I
t-200 i
44i
| |r>lv.| f
Bid. | Auk. Ilnf.i P?l?> I
46
98%
117%
65%
17
44
35
78*
70
io%
9*
31 *
46%
98%
117%
65%
17%
44%
36%
80
75
II
:?%
31%
12%| 13
io%| 10%
19
20%
58%
98%
83
63
65
9%
20%
42%
9%
16%
1:1*
20*
5!)
100
90%
63% I
72
9%
20%
43%
10
19%
2ooirss,n & m pf.
71000|I,T S Steel
400IIJ ? titeel pf..
3900l1Ttah Copper..
1200 ITtah Sf-ur...
6500 Vanadium ? ???
1600 Va-Car Them.
1200 Va-Car Ch pf.
200 Va I. C & C pf
1500 Vivaudou ...
1000! Wabash ....
58001 Wabash pf A
200 Weber A Hetlb
19001 West Md
13001 West Md 2d pf
40001 West Pacific..
1200'Went far pf..
. fiOOlWrat 1Tn Tel..
2001 Wont Air Tlr..
13300!Wr-Ht ? *- M-.
?%
44*
: 3?i
ir.7%
54*
J>0
72
9%
*11* div
Nl 'TK
?tr? made
137
43 fi
83
64*
100 W E H M 1 pf.
1100 Wheel A 1; K.
1300 Wh & U R pf.
3700 White Motor..
1000 White Oil ....
2700 Wick Sprn 8t
I ..I 2700!While Oil rt.i.
8% 8*1 ..I 4000 Willy* Over...
39% 4'i%I .. 700 Wlllyn Ov pf..
29 30 ! .. 100!Win Central...
lfiO 161*1 8! 200! Woolworth ...
53 5J%I 4l 600iWorth I'ump..
89% 90 7; 1001Worth V pf A
70% 72 ! 61 200 Worth P pf B.
8* 8%' 1| lOOfWrlght Aero.
. ffOx rlrhta. Jin ^erlp. x Port atock.
-Odd lot transaction* arc not recorded In separate line unless sales
at pric outside of ? !>?? i+gular lot range.
?
i6
98
117%
65%
17%
44%
33%
77
70
11%
9%
31*
13%
10%
19
20
56
98*
90
62%
69
9%
19%
42%
9%
16%
%j
8*
41
30
162
53%
90
72
8%
46%
99%
117%
65%
17%
44%
35%
82
70
11%
9%
31%
13%
10*
19%
20%
58%
99%
90
64
69
9%
20%
44%
10
16%
A
8%
41%
30
162
53*
90
72
8%
46
97%
117%
65%
17
44%
33%
77
70
10%
9*
31
13%
10%
19
20
56
98%
90
61*
69
9%
19%
42%
9%
16%
%
8%
40
30
1B1%
53
90
72
8%
*? In stock f Fart extra
$6,000,000
The United Railways & Electric Company of Baltimore
First Consolidated Mortgage Fifty Year Gold Bonds
Bearing 6% Interest
Dated March 6, 1899 Due March 1, 1949
NOT SUBJECT TO REDEMPTION PRIOR TO MATURITY
Interest payable March 1 and September 1. Principal and interest payable at the banking house of Alex. Brown &? Sons, Baltimore, with
out deduction for any tax or taxes which are or may be imposed by the United States, which the Company may be required
by law to retain or deduct therefrom. Coupon bonds in denomination of $1,000. registerable as to principal only.
THE CONTINENTAL TRUST COMPANY, BALTIMORE, TRUSTEE
C. D. Emmons, Esq., President of the Company, has summarized as follows a letter describing these Bonds:
BUSINESS?The United Railways & Electric Company of Baltimore was formed in 1899 by
consolidation of all the street railway companies in Baltimore and vicinity, their tracks
totaling about 339 miles. At the present time it operates more than 418 miles of track
and a total of about 1100 cars, and serves a population of approximately 800,000.
PURPOSE OF ISSUE?The proceeds of the sale of these Bonds are to be used to retire the
$3,000,000 City and Suburban Railway Company First Mortgage 5% Bonds due June 1,
1922, to redeem the $1,500,000 The United Railways & Electric Company of Baltimore Ten
Year Secured Gold Notes maturing January 15, 1931, and for the retirement in part
of other corporate obligations maturing in 1922.
DESCRIPTION OF ISSUE?The Bonds are issued under the First Consolidated Mortgage, dated
March 6, 1899, and the principal, as well as interest at the rate of 4% per annum, is se
cured by the lier^of that mortgage. Pursuant to a Supplemental Indenture, the Company
is to affix to the Bonds its obligations to pay additional interest at the rate of 2% per annum.
thus making the total interest rate 6% per annum. The 2% additional interest will not
be secured bv the First Consolidated Mortgage, but in the Supplemental Indenture the
Company will covenant that it will not create any new mortgage upon any part of its
property subject to the First Consolidated Mortgage unless such new mortgage expressly
shall secure the payment of said additional interest obligations equally and ratably with
any indebtedness secured by such new mortgage.
SECURITY?Upon the retirement of the $3,000,000 City and Suburban Railway Company Bonds
(provision for which is made in this financing) the First Consolidated Mortgage becomes
a first lien on all of the property now owned or hereafter acquired by the Company sub
ject to only $5,550,000 underlying bonds for which an equal principal amount of First
Consolidated Mortgage Bonds is retained by the Trustee. The mortgage, except for the
provision for underlying bonds, is a closed mortgage. The underlying bonds cover less
than 40% of the trackage operated by the Company and none mature before 1929.
The bonds secured under this mortgage have been, for many years, legal investments
for trust funds under the jurisdiction of the Supreme Bench of Baltimore City.
"V.
EARNINGS?Earnings of The United Railways & Elect ric Company of Baltimore during the
past five years have been as f ollows:
Net Earnings 'Interest on First
Gross after Taxes but Consolidated Mortgage Times
Year Earnings before depreciation 4% Bonds, etc. Earned Balance
1917 $10,656,938 $4,309,820 $1,849,425 2.33 $2,460,395
1918 12 012,763 4,012,489 1,852,990 2.17 2,159,499
1919 14,834,350 4,232,851 1,888,703 2.24 2,344,148
1920 17,434,339 5,129,757 1,939,345 2.65 3,190,412
1921 16,437,045 4,761,604 2,079,014 2.29 2,682,590
This item includes not only the interest on First Consolidated Mortgage
4c'( Bonds, but also rentals, interest on underlying bonds, sccured notes
(now to be retired) and equipment bonds.
As may be seen from the above table, net earnings during this five year period, Avail
able for rentals and interest items set forth, have averaged $4,489,304 per annum or about
2.34 times such average annual requirements. Since the proceeds of the present financing
are for refunding purposes, increase in interest charges resulting therefrom will alter this
ratio very slightly.
FRANCHISES?Practically all of the Company's franchises in the streets of Baltimore are per
petual as more fully explained in a letter, dated April 8, 1922, describing these Bonds.
THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION AT 97% AND INTEREST, YIELDING
ABOUT 6%%
Subscription books will be opened at the banking house of Alex. Frown & Sow-. Baltimore, at 9 o\lock .4. A/., April 11, 1922.
In making allotments, priority as set forth in a circular, dated April 10, 1922, (available on application) will be given to holders of cer
tain maturing obligations of the Company. The right is reserved to reject any application and to allot smaller amounts than applied for
(except as to priorities mentioned), and to close subscription books without notice. This issue is dependent upon the approval of the
Public Service Commission of Maryland. Delivery of Definitive Bonds, or Temporary Botuis, is expected about April 24, 1922.
Alex, brown & Sons
The Oide*t Banking House in the Unite^ Stit?s
Baltimore, Maryland
Th?' above statement:* were obtained rmm source# we consider reliable, and whilr not guaran**' i vrc tye!ie%*e them to be con eft.
?
BRAZIL NUT COMPANY
IN HANDS OF RECEIVER
Stock Said to Be in Bankrupt
Warehouses.
Judge Garvin In United States Dis
trict Court Jn Brooklyn yesterday ap
pointed Frank M. McKey and William
Paul Allen ancillary receivers of the
Brooklyn plant of the Kelllng-Karet
Company, Imtay and Commerce streets.
The concern Is the largest In the
country shelling Brazil nuts. It had
been cited In Involuntary bankruptcy in
Chicago. The Brooklyn plant has con
tracts with most of the big candy
houses.
Much of the stock of the local branch
of the company is declared to be In the
warehouse of the Watson Brothers
Stores, Ferris and Van Dyke streets. In
the Red Hook section. That concern
went Into bankruptcy last week. The
ancillary receiver* will serve under bond
nf $10,000. The Chicago plant Is at 800
North Clark street.
LABOR AND FARMERS EXEMPT.
Home Agalnat Miking Thetn Lia
ble to Antl-Troat Salts.
Washington, April 10.?After voting
again to-day to refuse the use of Fed
eral funds for prosecution of labi>r
unions or farmers' cooperative organi
zations under anti-trust laws, the House
to-day passed and sent to the Senate
the regular State and Justice appropria
tion bill carrying about $26,000,000 to
maintain thcjse departments during the
next fiscal year.
During debate on the measure last
w?ek Representative Johnson (Ky.),
Democrat, Introduced ?n amendment
freeing labor organizations and farm
ers' organizatlons from prosecution In
case their activities should lead to
charges of price fixing, and It was
finally adopted In the discussion of the
bill In committee of the whole.
MONEY MARKET.
MONDAY, APRIL 10
Renewals 4<t|Laat .
Hlish 4Vt|YWa nigh ?
Low tVi t Vt-? i-'? low t |
TIME I-OANS,
Mixed collateral. 60 to DO days. 4Vi |
Mixed collateral, 4 to H montha 4V4 <
Induatr'ala, 00 to "0 <ttya 4V,
Industrials, 4 to t! montha 4'~
COMMERCIAL PAPER.
Bent names, < to ?l month* r .
Other namea. 4 to ?? inontha 4V
DISCOINT KATE, K BANK.
Commercial paper, *i:> days, ?V4. HO to M
days, 4H; Liberty bonds and Victory notes,
lis days, 4V?; IH to Wi days, 4'j, bankers'
*. r.-ptancea. 15 to 90 days, 4ty.
?rixrd November - Prevloua rate, 5,
fixed September 21.
OPEN MARKET RATES.
Call loana and acceptance
Discount rate* on prime bankara' acuapt
ances eligible for purchase by Federal Re
serve banks.
Did. Aak. Bid. Ask.
30 daya ?"% 3S f>o <tmf? .1%
?HI .laya ::?i n%|l20 day# as :i\
(T.EAKINM HOI OK NTATEMENT.
Clearing Houaw axchangea, $. 73,100,600
balances, fB5.4T.00: I 'edera I Reaerve credit
balances, $51.700,000.
NII.VER MARKET.
Official bar stiver In New Vork, dom*etlc, i
MTi'lianited: foreljn, R.".*tr . off i^i- .
fjnndon. 33tydoff H<l.: Mexican dollars,
Sft'ie., off '^r.
Range of silver prlraa this yeat :
(Ugliest. Lowest. 1
London Sis'.id., .Ian. :i 32Hd., Feb IS I
New Tork 60V'., Jan. 10 62\c., 28 !
FOREIGN MARKETS.
IjONPON. April 10.?Ollt odRe Hertjt IMAs
ix-re buoyant, buatflos* In oil nhnrc" wai
fair and llfttiah Industries l.?su<"< were ir
regular In the Block Exchange todn..
Quotations follow:
Par silver, ,'t3'4>l an ounce.
liar *o1d, PJa,, Pd.
Money, 2V? per cent.
Dlacount rates Sliort lilllf, osj p?r rent ,
thr.-B months h!Us. 2\02 13-lfl per cent.
2*4 per rent, consols, 36U.
Prltlsh ?" per cent war loan, 00ft.
Hrltlsh 4'/4 par cent, war loan. 04.
De IVers, 10\.
Rand mlnea, 2'i.
PAR1H. April 10 - Prices \rer'- Irregular
on tli" Bourse to day. Quotation* fol
low :
FYanea. Cent.
3 per cent, rentes... ft7
Bxclifenge on l,ondon 47 pa
." per cent, loan 77 M
Cnlt"-d Pt?<. ? .lollsr 10 *a
/
A Brooklyn institution
CINCE its founding in 1859, the Nassau National Bank of Brooklyn
^ has been primarily a commercial hank for and by the people
of Brooklyn.
Our aid and guidance, freely given to all of our depcito's lias helped for 6? years to
stimulate and encourage Brooklyn's industrial growth.
Brooklyn now is fourth in manufacturing of the cities of the United States.
From both the standpoint of convenience and experience gained through a close
touch with the development of Brooklyn, we stand to-day, peculiarly fitted to meet
the banking problems of Brooklyn industry.
Ask the Man Who Bank; Here.
NASSAU NATIONAL BANK
OF BROOKLYN
46 COURT STREET
FINANCIAL NOTES.
to nontlnne lli? htwlneae e*tabll*hed by
Mr Onlcoti In ??rvlnR bank*, ntlortiry*,
receiver* *nd tmateca In bankruptcy.
Th? New Y??rk Coffe* and Sugar Kxchang*
*111 b.. closed on Friday ami Saturday.
Jonathan Bryan. Kill Ba?t Main ?tr*?t,
Richmond, V?., ha* applied ror membership
In llii' New Yovk Cotton Kxchanffe.
The good earnings of tin- S. 8. Kre*g?
r'ompan.v in 1021 If the euhjei t- of an anal
ikIb by Merrill. Lynch # Co. It nhom that,
Nlthough til-* rompany recently paid a 54 p?'r
IT,it. -etock divided. It* earning* a xhare
In 11122 probably will exceed their previous
Mgh record. It 1* expected. furthermoro,
Ihut the navlng on tax** I* likely to hn re
floct.-d II lncrea?ed divided payments to
lb?- company''* ? "inrnon *tockhcld?ni
.iohn A. McKtmy ha* become n member of
the firm of .1. Tt. +WllM?ton & <v>.,
l'aw*on. t,yon ? Co.. :,0 Hue utreet, haw*
leaned n circular on the ShuHa llread Cofr
panv'* atock.
Tlie Reglatrnr and Tran*fer Company bar
been appointed transfer agent for a.nnnnoo
nharea of elaaa A etoek of tha American
t'nig Storaa, Inc. .?
K' Inhar! a Hennct, member* of tha Naw
>nr> Stork Exchange, 5? Broadway, lia>?
IwiK'd their April I'at of bonda yielding
?i.v, to a per cant.
The firm of Onlcott * Parmelea, conalat
|n* "f Kr .1 II OulcoM ai d r'harl"* 1/. Tar
t n r.lbcety atroet. Imi been or? an
,*)
Anerbacb, Pollak A TUcbardaon, member*
of th? New York Stock Kxchang-. have
prepared a cln ular on Mctfitjrre Porcupine
l?i ,? ? a*.
Ttombloner ? Weaka' new telephone num
ber 1* Hroad 3820.