Boris
Yielding
4% to 7%
A request for B-ii will
bring our April Bond
Circular describing 160
issues which we rec
ommend for investment
Nsrris, Forbes & Co
Pin* St., Cor. William
NEW YORK
We Specialize in
ALL ISSUES OF!
New York State
AND
New York City
Bonds
Weekly Quotation Sheet
Mailed oo Request
<Ktro*
Members New York Btock Kxchange.
1( WALL ST. NEW YOI1K
Tel. Rector 4500.
Offerings
Wanted
Cities
Service
Scrip
DIVIDENDS
THROCKMORTON I CO.
WVBSTM1KTS
lis BROADWAY MIW YORK
T.imAm* Htdm /060
MEXICAN GOV. EXTER.
4% Gold Bands of 1910 duo 1945
Selling at about
47Vi%
Compared with a pricc of
S7Vi%
for
Mexican Govt. Exter.
4% Gold Loan of 1904 due 1954
Wc recommend exchange into or pur
chase of lower priced issue which in our
opinion is also better securcd.
'I he amount of unpaid coupons on both
loan* is 32%.
E. H. WOLFES
111 Broadway, New York
Tel. Rector 5991.
EX DIVIDEND TABLE.
April 13
Amerlran Uu * Electric 1?f l.uO
April 14?
Atlantic Refining pf 1.75
Hrttl*h Kmplre Steel. 71J pf., "B" 1.75
Consolidated Coal 1.BO
t-Mlson Kl?<ctr1c Illuminating, Procton.. 2.M)
Ingernoll-Rand a.!Hl
t'er? Marquette, Mi pf 1.67
Pero Marinette 5% pf. cum 1.00
Para Marquette pr. pf 1.28
April 17?
Carolina Power * Light 50
April 1?
Rcadtng f'o 1.00
April 20
K. I. du Pont da Ntmiwri, deb 1.50
E. I. du Pont da Nemoura 1.50
April 21?
Klaher Body pf l.TR
fisher Body 2.BO
DIVIDENDS.
Btork of Pay
Record. able.
Frderal A'-eeptanca Corp.,
q. pf.. 9^ Apr. 1 Apr. 145
H II. Franklin Manufa*tur
Inf, q. pf., fl.7r> Apr. 20 May 1
Iron Product* Corp., pf, cj,
$'_? Ma r 1 May 18
Maaaachuftotta Gaa Com
panies, q.. $1.75 Apr. 15 May 1
Mniilna Body Corp., q. pf. 92.Apr. 17 May 1
$30,000,000 OIL
NOTES TO BE SOLD
Sinclair Crude Oil Purchasing
Company's Issue Will Be
Offered Soon.
The comparatively new method of
making large self liquidating loans
against stocks of raw materials Is to he
followed soon In the sale of $30,000,000
of the Sinclair Crude OH Purchasing
Corporation's three year notes. They
have been taken by a syndicate Including
the National City Company. Blair & Co.,
Inc., and the Chase Securities Corpora
tion and will be offered for publlo sub
scription in a few days, it is under
stood, on a yflce basis to yield between
5'^ and 6*4 per cent.
The corporation is owned Jointly by
the Sinclair Consolidated Oil Corpora
tion knd the Standard Oil Company of
liuAana and buys and stores crude pe
troleum, and stocks of oil will secure
the notea The proceeds from petroleum
taken from storage and sold will be
used to retire the issue. This operation
is similar to that used by the Copper
Export Association, which Issued in
February, 1921, $40,000,000 of Its four
year S per cent, notes against supplies
of copper.
Average Bond Prices
April 10, 1922.
Mon. Net Week Year
day. Change. Ann. Ago.
10 KallftR 83.31 +.05 83.01 72.3*
10 Industrial*. 01.12 +.27 06.81 88.38
8 Pub. lltll.. 83.95 +.05 88.17 tto.75
5 Foreign ...104.60 +.03 104.40 01.57
30 Bond* 91.57 +.18 91.03 79.87
BOND NEWS AND NOTES.
Offer 96,000,000 Tractions.
Alexander Brown & Sons, Baltimore,
are offering $6,000,000 of the United
Railways and Electric Company of
Baltimore's first consolidated mortgage
fifty year 6 per cent, gold bonds, matur
ing on March J, 1949, at 97 and Interest
to yield about 6Vi per cent. The com
pany was formed in 1899 by consolida
tion of all street raiway companies In
Baltimore and vicinity. The proceeds
of the sale are to be used to retire
$3,000,000 of the City and Suburban
Railway Company's first mortgage & per
cent bonds, due on June 1; $1,500,000
of the United Railways and Electric
Company of Baltimore's ten year 7 Ms
per cent, secured gold notes, maturing
on January 15, 1931, and part of other
corporate obligations maturing In 1922.
The bonds are Issued under a first con
solidated mortgage dated March 6, 1899,
and its principal and interest are se
cured by a Hen on that mortgage. On
retirement of the $3,000,000 of the City
and Suburban Railway Company's first
5a the first consolidated mortgage be
comes a first lien on all the company's
property.
19(760,000 Power Offering.
H. M. Byllesby & Co. and the Federal
Securities Corporation are offering at 92
and interest to yield more than 6.60 per
cent. $2,750,000 of the Oklahoma Gen
eral Power Company's first mortgage,
series A, 6 per cent, gold bonds, due in
1953, and guaranteed as to principal.
Interest and sinking fund payments by
the Oklahoma Gas and Klectric Com
pany. The power company will begin
Immediately to construct In Muskogee,
Okla.. a steam electric power, house ,-ind
an extensive sytem of transmission lines.
The bond will be secured by a direct
first mortgage on all Its property. The
sinking fund agreement provides for
semi-annual cash payments to the trus
tee beginning on April 1, 1923, equiva
lent to 2 per cent, a year, based on the
amount of bonds outstanding.
Italia Make .Largest Gains.
Railroad bonds scored the largest ad
vances In yesterday's active trading.
Foreign government Issues were scarcely
Influenced by the opening of the Genoa
Conference and strength In British G'^s
of 1929 coincided with the rise In ster
ling. That heavy speculative and in
vestment buying continues to enter the
market for second grade rails was evi
denced by the further sharp advances In
their section, carrying prices to new
highs for the movement. The Seaboard
Air Twine's adjustments crossed 25 and
Its 6s, which opened at 57, reached
58'A. Chicago and Alton 3V4s were up
2l4 points at 49*i, making a total re
covery of nearly twenty points from
their low of 1921. Southern Railway
g"t "P to 99 and its 4s made a new
high at 66. Heavy buying of Czecho
Slovaklan 8s lifted their price above 99.
Among Industrial bonds Goodyear Tire
Rs of 1931 were prominent with a rise
to 102, while Atlantic Fruit 7s rose 3'a
points to 39.
? i
9in.oon,ooo nio? aii s?ia.
The $13,000,000 of Rio de Janeiro's
twonty-tive year external 8 per cent,
bonds offered for subscription yrsterday
morning by Blair & Co., Inc., nnd syn
dicate were oversubscribed heavily with
in a few minutes after the formal open
ing of their books. Trading In the bonds
was started yesterday afternoon on tho
New York Htock Exchange on a when
issued basis. They sold for 103% in
contrast to their offering price of 103.
Small Lock Company Issue.
T>agc Brothers * Co. announce ar.. of
fering of $500,000 of the Miller Lork
Company's first mortgage 7 per cent,
convertible twenty year sinking fund
gold 'bonds at 97^4 arjd Interest to yield
about 7.25 per cent. They are dated
April 1, 1922, and are due on April 1.
1942. Tho issue Is callable as a whole
on sixty days' notice on any of Its in
terest dates at 106 and accrued Interest
and the bonds are convcrtlblu at the
option of thflr holders, par for par. Into
the company's 8 per cent, cumulative
preferred stock on any Interest date
upon thirty days' notice.
An Issue of $d7),000 of the city of
Bayonne's 5 per cent, school and Improve
ment gold bonds Is being offered by a
syndicate composed of J. G. White A
Co., Inc.. B. J. Van Tngen ft Co.. Horn
blower & Weeks and Redmond A Co.
The bonds mature on January 15. 1930,
to January 15. 1!M9, Inclusive, and are
offered at prices to yield 4.35 per cent.
They are exempt from Federal Income,
taxes and arm legal Investments for
savings banks and trust funds In New
York, Connecticut. New CTersey and
other States.
Huntington Jackson & Co.
Railroad Bonds
43 Exchange Place New York
BONDS IN STOCK EXCHANGE
MONDAY. APRIL. 10, 1922.
/ . 1922. 1921.
Day's sales (.*. $17,788,000 $0,003,000
Year to date 1,318,145,000 839,043,000
1920.
$14,139,000
1,051,527,000
?Closing?
Bid. Asked.Yield.
99 24 99.30 3 54
99.28 99.40 4 05
99.18 99.30 4.13
99.38 99 46 4.29
*9.30 99.34 4.80
99 50 99.52 4.32
99.60 100 00 !!
99.48 99.50 4.30
100.86 100.90 3.88
100.02 100.06 3.48
Open. High.
99.22 99.30
99.08 99.08
RANGE OF LIBERTY BONDS.
Sales
in $1,000.
274 3*4s (1982-47)
2 reg
.. 1st cv. 4s
9 2d 4s (1927-42)
136 1st cr. 4^4* (1982-47)
1 1st cv. 414s rep
867 2d cv. 4^6 (1927-42)
3 2d cv. 4%s reg
2,186 3d 4^s (1928)
122 3d 4>4s reg
1 lst-2d 4Vis (1927-42)
1,847 4th 4?4a (1933-38)..
5 4th 4'4s reg
731 Vic. 4%s (1922-23)..
SI Vic. 4^s reg
39 Vic. 3%a (1922-28)
99.18
99.44
99.20
99.22
99.10
99.52
9!t.40
99.50
99.44
99.34
.100.90
.100.68
.100.02
99.18
99.50
99.-0
99.34
99.14
99.54
99.40
99.50
99.54
99.34
100.90
100.7C
100.02
Low.
99.23
99.08
99.18
99.40
99-20
99.22
99 10
99.50
99.34
99.50
99 44
99.14
100.86
100.66
100.02
Last.
99.24
99.08
9918
99.40
99.20
99.30
99.14
99.52
99.34
99.50
99.50
99.30
100 90
100.66
100.02
Net
Chgs.
+ OS
+ .68
?.10
+ .02
?.06
?.10
+ .14
?.10
?.08
FOREIGN.
Argentine 7a 27
2 99?8
1 9034
8 997a
1. *6. .m)l9
ft 9034
T 99?>8
J* ??!U
?
2 4 9934
3 0?.*?8
5. ,s6. .99?8
Argentine fa 45
1 83.'U
1 831a
1 r:i.'U
EelKtiun 8s 1941
receipt*
4 1073*
1 1081s
1 108
2 10818
11 108
2 lOhlg
Belgium 7V*i 45
20 108:44
2 1081a
2 10WI4
3 108la
5 108U
Belgium to 1934
1 10278
1 10234
2 1027r
2 10234
7 103
1 9 1023^
6 10278
Berne 8s 1945
1 1117s
Bordeaux to 34
1 8734
2 S77h
6 8798
7 8778
14 8734
3..... ,8778
2..80..S734
1 8734
Brazil 8s 1941
43 107
13 1061*
2 106*8
6 1061a
3 1063?
1 IO6I3
2 1063a
9 1061 a
ft 10634
7 1067a
4 106^8
Canada 5Hs ?
7 10034
5 101
4 1007S
6... ..100?g
Canada Is wn
13 OOI4
3 99
2 5 99U
25 998g
Canada fa 1931
2 983s
1 08la
20 9834
Cbilo Ss 1928
5 1021s
1 102
Chile
fa 1941
7 1041a
1 1047s
1.J.0..104
'ft 10434
Chile fa 1946
3 104
2 10834
3 104U
8 104
S.slO.104
1 5 10414
1 1041y
3 10414
Chinese H K By
fa 1961
3 551a
1 5434
Chrtstianla
S f fa 1948
ft 110
1 1091a
Copenhagen
b r tHe in"
2 9234
1 921a
1 93
Cuba fa 1904-44
S 00
Czechoslovak
811 1051
when Issued
75 09
1 9914
29 99
25 9918
?1 99
5 9918
24 9914
12 99
1 8 9918
12 09
3 9918
2 9914
2 9918
? 99
1 6 9018
3 9914
g3 99
18 9918
9014
7 9918
ft 99U
6 99
2 99U
I 1 9918
2 W
10 9918
9 99
5 9914
6 99l8
24 99U
2 9918
1 99
10 991a
2ft 99
3 991S
8 69
2 9918
20 99
3 0018
10 99
S 9918
2 9914
3 99
Denmark Mun
ser A 1948
. 1 112
Denmark fa 45
5 112
2 11213
1 112U
1 112
Denmark to 42
certificates
5 99
6 0978
2 99
1 98^8
1 9813
1 98?g
5 9834
1 .98?8
4 9834
3 981a
1 987S
1 98'a
11 9834
a 981)9
Denmark Mun
car B IMS
*16 112
Dominican. OA
fa 1958
1 92
Dntcb Eastlnd
tt-yrfa 1947
' receipts
13 041a
2 943s
2 941a
4 9438
4 941a
\ 9438
Dutch Eastlnd
40-JT 6s 1962
receipts
3
1. Jl0..94ia
2 <?434
2 8478
Krenca fa 1943
22 IO6I4
15 106 <8
1 106
1 1061a
1 106U
1 1061'
1 IO6I4
French 7Hs 1941
5 10238
15 1021a
37 10214
1 10218
7 102U
3....,1021a
6 102U
1 1021a
5 1021.1
1 1021a
1 10214
1 10212
2 10214
1' . . .103 ?
7 10212
5 1025s
Italy 6Hs 1925
1 96
Japan 2d 4s 1931
2 7534
2 751a
6 75*8
3 7534
20 756s
1 75.1i
10 751a
Japan lsUHs IS
4 9014
2 903s
6 901a
Japan 2d 4Mb 25
1 89
Lyons fa 1934
2 878b
2 8734
6 8778
3 88
1 8734
6 88
8 S814
9 8734
1 . ,?6. .8734
2 88
1. . s6.. 8734
1 88
Marseilles to 54
2 87.V
10 8778
2 88
1 8778
1 8734
10 88
1. .s?..8734
1 8734
1 88
Mexico 5s 1954
ft 631a
33 64
20 6314
I 2 631a
6 631*8
4 63I4
1 63
1......631a
large
10 6OI4
8 601a
5 OOI4
10 60
15 6OI4
Mexico fa 1954
15 87
2 5678
17 571a
2 5714
20 57
5 571S
ft 67
1 ft 71 a
5 57
45 57I3
6 573g
5..S30..57
7 671a
22..S30..57U
5..s30. .67
10 571a
1 67
5 571a
Netherlands
to 1972
receipts
ft ?48e
i 1 94U
1 943s
2 941a
f 1 943s
' 3 9U4
10 941%
2 941.1
2 941g
Norway 8s 1940
3 1121s
3 11134
2 1121a
2 112
5..S5..112
1 112U
Porto Alegre
Ss 1961
0 10213
4 103
1..S8. .102U
1 102:14
1 ioa?s
l 10213
Queensland
t> f g 7? 1941
3.J6. .108
1 108.18
1 1081a
1 10838
2 IO8I3
1 1083*
4. csh. 10938
6 1081a
4.^6.10813
2 IU8I3
Queensland
to 1947
certificates
10 lOUa
2 10134
1 10168
Bio de Janeiro
s f g fa 1948
24 10334
6 1031a
14 10334
1 104
8 10334
1 103^8
1 1031a
12 10334
6 1031a
8 10334
1 103-38
1 0 10378
2 10334
1 1 104
1 10334
Bio de Janeiro
8s 1947
when issuod
1 4 10334
1 5 10312
1 10334
1 103S8
11 10334
8 1036s
10 1031a
3 103
1 10334
Rio Grande do
Sill 8s 1946
1 10368
6 104
1 10378
9 104
7 1031a
SanPaulo State
fa 1936
4 1051a
'Ij...105
3 1051a
2 1057g
5 IO0I3
3 IfcV*
3. J>6. ,1061a
1 106
San Paulo City
fa 1952
8 1053i
1 5 1051a
20 105oa
4 100
Seine fa IMS
SO 06
10 0018
2 4 06
1 9618
S 3 96I4
" 7 96
1 961s
2 .0614
3 96
2 96U
2 9618
5 96
2 9618
a. 06
Sweden fa 1939
| 2 1001 j
1 10034
1 100;"*
1 1 10013
Swiss fa 1940
2.8ft..116U
! 2 11678
6 116
Toldo fa 1952
3 1 721 j
United Klnsulm
?Hs 1922
34 1071a
*64 1078s
United KlnRdni
cv 6Hi 1929
1 1071a
3..s5..1073g
3 2 10712
45 10734
38 1077g
1.8ft.. 1073g
1 10712
2 5 10778
2 1075s
17 107/8
3 3 107
ft 107.'>?
1..S6..1071a
4 10758
United Ktngum
1M7
1 10038
2 IOOI4
1 2 1003g
3 IOOI3
1 10O38
2 10OI2
4 10038
1 1001a
2 10038
1 6 10012
1 100U
3 1003b
a 10012
1 10038
1 10012
Urtspiay fa 194a
3 1061r
1 IG6I4
7 106
1 IOCIh
Zurich fa 1(54
1 11208
6 1121a
I 3 112%
New York City
4Hs 1963
3 105%
2 105
U 19U
4 964
Adams Exp Co
dt 4s IMS
1 75
AJax Rubber
Km 1936
1 3 1004
Amrr Ak C'hem
74s 1941
1 108
101'8
8 102
- 1021S
! 4 102l4
3 10211
1 1024
Amor Cotton O
deb fa 1131
4 S8
Ain S A Hfu
1st A fa 1947
1 904
10 W>7*
J 10 coi i
1 9078
7 9tV%
2 901*
1 001*
Am Sugar Co
fa 1927
1 4 98%
10 984
7 98
ft wag Bell Tel of Pa
12 Will 7>?s IMS
4 98% I 2 1071a
4 !)814! 1 107%
5 ?8IS 8 IO7I3
1 98%' Bethlm Steel
2 98%! So 1934
Am Tel A Tel! 2 90%
Raltlroora A 0[
C? 1929
? 084
1 98%
3 9813
2 PS%;
4
3 9841
1 98% I
ft 981'i
2 l<8%|
9 ??%>
1 984
5 98%
Balt imore & O
ref A fa 19M
3 854
1 85
3 8514
1 85
3 851s
Baltimore A O
cv 44s 1933
5 814
1 8II3
5 814
DOMESTIC.
1.
10.
1.
1.
38.
2.
.81
.814
814
? HI
.814
.814
Baltimore A O
TaiACto 1950
1 80
1 094
1 GUI 3
?J 69
6834
CV 6s 1025
1 1141a
i 'a. . . 1141- Braden Cop \1
a
a.
.91
.90%
.11413
1 1141.1
2 114
Am Tel A Tel
Clt fa 1041
7 07%
?...
?...
4...
1...
A . .
1.
...974
...97%
, . .98
Am Tel A Te!
CV 4? 1939
1 84
8 85
Am Tel A Tel
clt 4e 1929
2 0013
10 90%
9 90I4
Am W W A HI
col tr fa 1934
3 ,75
Am Writ* Pap
lat 7-fa i9.n>
2 827g
1 831a
Ann Arbor
lat to 1992
1 72
4 7214
4 7213
Armour A Co
lat. 44* 1931
5 *8
ft . ... . 8.81s
2 87.14
Atch T \ S I'c
Ken to 1995
24 877|j
7 875a
1 87lj
8 87*4
1 87la
Atch T A S K?
rv 45 1015
I.... 80%
Atrh T A Ht Ke
cv to 19IW
n ioo
Atch T A St Ke
ad I 4s 1995
stamped
8 821)
Atl ''oast, I Aon
lit to 1951
2 88
3 8818
COU fa 19 31
4 97 i
Bkln KdtsonOo!
fa A 194U
5 94t4|
2 .94 ;
Bkln EdisonOoi
7s C iwo
1 105i4:
. .971. Ilk In KdlaonOo
I4, Ja D 1940
. .0713! 1 10713
" ~ 1... 107
Ekln Rap Tr 1
7s 1921
H 85 |
2 8413
1 84%!
ft H?4
1 8418
certificates
10 84I3
14 84 '
4 8"%]
certificates
stumped
0 80
ft 80%
i 25 8013
19 80
Bkln Rap Tr
fa 1945
0 !S918
2 5914
7 6OI4
1 59
2 591
2 591?
3 5904
certificates
I #718
3 58
MVin Cn Kiev
1st fa 1910
4 841a
1 8478
1 84.%
9 .84li?
84 Ig
.84
Bklyn (In (las
Cn fa 1945
3 9:1
Bnf Rnch A P
gen fa 19.17
8 10014
Bush Term Big
1st fa I9fti
7 89
Cent New Kng
4s 1961
2 61
1 60
Central Pacific
ref fa 1949
10 84%
2 84%
4 844
CRR'of New J
fa l?*7
registered
I 105
Cor de Pas Cop
cv sf fa 31
1 1141a
8 1131a
1 114.14
Chea A Ohio
cv 5s 1948
8 901a
22 9011
2 9oia
Ctles A Ohio
cv 4.4s 1930
31 88I4
Chea A Ohio
Ken 4} is 1997
10 84:14
?J 854
Chi A Alton
rof IH* 1950
1 47!g
2 48
15 481
28 49%
1 49%
15 49
7 4:i7g
4 491S
2 491a
7 49
1 491a
Chi Bur A W
fa 1971
4 96%
1 ??%
a 9? ,?? '
1 963.1
6 ?0?8 !
10 96% !
1 91',:, ;
2 9t>%
18....'. ,9t(%
2 9678
Chi Bur A y I
S?n fa IDil
1 0 87%
Chi H A Q III
3Hs 1949
1 81
Chi A Hast 111
fa 1961
55 79
2 78\
' 31 79
Chi Gt West
to 1950
2 63
6 6314
2 68%
a..*,.V63if
4 03 ..
2 62
Chi Mil A PSd
to 1949
2 7019
4 701.
Chi Mil A St P
CV fe 2014
t 89
2 fl83(
1 7 69
ft 687g
2 68%
I I 69
4 0814
5 68%
1 09
4 08%
a ?87g
9 69
Chi Mil AStP
gen 4 Ha 19*9
2 Ml-.
Chi Mil A St P
cv 4He IMS
2 67
2... .1.671a
2 07
1 8 671 j
1 1 68
4 ?814
3 .68
...671a
Chi Mil A 8t P
ref A 4H? 2011
10 621a
8 eau
6.... 62
10. 6214
1 "2
15 62%
2 621a
2 621 ??
10 6'!%
Chicago ft N W
15-vr 64* 1936
1 10H7?
CornProd fa ."4I Erie 1st. cn to 96
10 99
Cuban Am Sug
lat coll fa 31
1 10434
Cuba R R Co
1st te 1952
1 82%
Cumber TIT
lat A gn fa 37
1 021g
Del A Hudson
conv fa 193.)
1 9413
9 9.
Chicago k N W Del A Hudson
gen 4s 1987 1st A rof 4s 43
1 8414 6 S8I4
Chicago A N v\ Den A Hlo
gen uHs 1987 Imp 5s 1921
1 74% 5 807s
Chicago Rys 5 81
1st fa 1927 5 82
10 81 1 8|lai
2 801a 8 81
20 8018 Den A Rind
1 80% con 4'>i 1936
4 801a 2 8H4
" 6 80% 5 8II4
Chi n I A P Den A Rio <1
fegen 4s 1PX8 IstAref fa 55
1 821? 10 .4834
Chi R I A P 11 47
ref to 1031 '7 46I3
14 791a 1 47
1 80 25 467g
1 7934 1 40%
1 80 ' 46 461?
20 791a I3 48
? 3...3..79U 23 4?Ma
Chi M'MA Ui .'1 46%
con fa 1930 1 1 4613
<1 10534 15 40%
Cbl T H U 8K. Den A Rio <i
ref te 1960 1 IstAref fa 55
1 8.1 Bankers ctfu
Chi Un Station; 3 42
1st 64s 1963 ! Den A Rio O j Gnl Elec Oo
2 Ill | to 1916 : deb fa 1052
1 11313 10 77i.il 5 *1913
114 Do M & Ft D Gen Klectrlc
lat to 1035 , db 3)is 194i
1 48I41 1 77%
? ?4" 1 OdjT T A K
8s 1931
25 63%
1 04
2 4 63%
1 63%
1 64
Erie gen to 1996
2 5 4034
29 50
12 6OI3
6 50
2 5014
2 SO
1 5014
17 &OI3
1 5014
20 501a
1 50
3 501a
3 50
1 SOU
10 50%
14 501a
FLsk Rubber
1st gm fa 1932
3 105
:t 10413
9 105
Fla E Coast I<7
1st 4>j8 1959
1... ...86%
Ct Wor A DCy
1st SViS 1961
1 101%
FramericanI D
74* 1942
1 9912
33 9914
3 99IH
ft 99U
3 9918
12 99U
(lenl Elec Co
fa deb 1940
2 lOt.14
1 107
2..
10. .
a..
6814
Atl Coast. I.lne CanadianftenE
h A N to m.r tsser A 1942 j
10. . ..8041 when Issued
Chi Mil A St P
gold to 1921
Atlantic Prulc
7s 1921
4 .19
13 3'l7g
17 40
Atlantic Refng
#4(1 1921
5 1044
Atlantic Fruit
7s 1934
10 364
2 36%
10 37
31 .18
Atlas l'nwder
cv /Hi 1931
1 1044
Baltimore A O
1st 4? 1946
2 HO
1 ??8
a w>
4 HOI*
Paltlmnre A ti
1 1014
5 101%
Canada North
20-yr 7s 1940
? 1107g
1. 86 .1101
1 110%
5 Ill
Canada North
64s 1946
2 109%
a 1094!
1 109%
Chn Padllc
to perpetual
? 77%
2 78
ft 77% I
10 Z7%
ft 77%;
4.
1...
?14
a.
. .77%
. 78
77%
. .18
8 W 24* iff I OtitofGeorgia
18. '11 I in-vr6s iwo
1 ?o?a' 111 98%
76%
.76%
. .77
..77%
. .78
. .77
774
..774
..77%
..774
. .774
..774
. .77
..771,
. .774
. .77%
. .77%
Chicago A NW
10-yr 7s 1 MO
1 106%
Chi Mil A Ht P
gen fa 19(9
1 76
Ohl Mil A Ht P I
deb fa 1914
9 61 % 1
4. .86. .614 1
1.
17... ,
10
27...,
5....
?... .
6
40.. .
2....
3...
13....
10...
3
26... .
10... .
ft
9
1 1134
Chi Cn Station
1st 44s A 1963
1 #24
Chic A W tnd
15-yr 74s
1 101% i
1 102 I
Chi A W I ml
con to 1952
ft 74% j
3 74
1 0 74%
2 744
Chile Copper
cv 7s 1923
10 102
Chile Copper
to 1923
1 86I4
31 80
21 86I4
1 86%
10. k6. ,8h
25 864
1 80
7 .864
1 80
? 86I3
1 86%
OOftHtl,
ref fa Ser A 29
1 1 9978
CCCARL
deb 44s ""1
11 89%
4 9041
C C C A St I.
to ser A 1991
3 7I'4
Colorado Indus
1st, fa 1934
1 75%
* 75Ig
1 70
Col A Southern
at 4Ms 1925
1 871 g
Col Gas A Klc
1st. fa 1927
3 92%
ComroH Cable
1st 4s J2I7
I 73
Camp-Tab-Re
fa 1941
1 9418
1 914
Cton Gai N Y
5-yr cv g 7s 25
9 ....1094
5 1694 __
5 1(19141 Erie cv to A ?J
Consolidation
1 484 i
1 49 |
Detroit Edison I
te 1949
1 10241
1 1024'
Detroit Kdison
1st. A ref 5s 40
1 1)54
2 9518
1 95
Det River Tun
1st 4}& 1961
4 ??'?%
Det United Ry
fat con 44s 22
ft 794
60 79
4 784
ft 79%
3 80
5 794
5 80
5 704
10 80
1 794
4 80
Dlamd Match
sf 7,4s 1936
2 1074
a 107%
DIs Securities
1st cv fa 1927
1 40
duPont ICIdeN
10-rr 74* 1921
10 105
DuqueaneLght
7.4s 1936
4 108
Duoueans LA
1st fa 1949
2 101%
1 10I7g
10 101%
5 102
2 10|7g
Erie e*t 7s 1930
10 103%
Erie cv to B 53
8 ... 467H
M 47
6 . .474
a ... 47
6 474
5 47
6 474
5 48
.1014
20 100%
ft 101
n 1014
5. ...1014
a 1014
33.
a...,
1....
2....
8....
1....
5...,
5
3...
OoaJ b 19(0
1 88
6 884
Cuba Can Hu
cv del) 7a 1920
10 86
? 8ft4
1 86
2 85"8
3 85lg
11 85
A 854
6 85
stamped a%
a. 85%
1 85%
1 86
5..
1..
12..
. H6I4
. .86
864
. 8?4
23.
?...
7...,
2 . .
30 .
1...
18...,
?... .
19 ..
I....
6 . .
.474
.464
.47
,464
.47
.464
.47
.474
48
.47
.474
Erie cv to D 31
20 49%
7 504
14 SO
2 501g
9 ftO
1 0 49%
3 49%
1 1 49%
8 491,1
1 497g
.1014
.100%
.101
.1014
.1014
.102
.101%
.102
.101%
3 101%
9 102
I 101
17 IOPh
12 102
17 1014
1 . .S6.101
1 101%
7 lOttj
ft 1024
? 1 10t7g
4 1014
12 101%
GOjrr TAR
tot fa 1941
4 1154
1 115
1 11R4
15 115%
1 115%
1 115
Granby Ss 1025
2 93
GrndTmnk Ry
7s 1949
4 1.0
6 1104
2 110%
Grnd Trunk Ily
fa 1926
1 101%
4 102
7.. .
4...
10...
4...
1...
. .10178
..101%
. .101%
..101'8
..101%
Great North Ry
7s A 1936
13 1074
7 107%
1 1074
?i 107%
2 1074
2 1074
40 1074
2 107%
GtNorth ?4s ?j
3 9?4
1.
3....
I
12
1ft.
96%
.964
.96%
.96%
.96%
1 96%
17 90%
49 96%
Green Ray AW
deb A
1 704
Green Ray A W
deb B
2ft 101a
I 1014
17 104
Continued on Following FBffC.
LIBERTY BONDS
Absolute Security of Principal
STEADY absorption by investors, together with purchases for sinking fund retirements, have gradually
decreased the available supply of these securities. In view of their tax exemption features, and
therefore their equivalent income return as compared with the net yield from taxable investments, we
recommend the purchase of Liberty Bonds, and believe in the future enhancement of their market value.
Exempt front all Federal and State Income Tax
lield as compared to
Amount orig- Amount Market Yield a taxable investment
Security Rate Payable Due inally issued retired (about) (about) dependent on income
Liberty First 3Va% J-D 15 Jane IS, 1947 $1,989,455,550 937,539,400 99.30 3.55% 4.00% to 9.10%
Exempt from Federal Normal and State Income Tax
Amount orig- Amount Market Yield Yield as compared to
Security Rate Payable Due inally issued retired (about) (about) a taxable investment
Liberty Second.... 41/4% M-N 15 Nov. 15,1942 $3,807,805,000 $490,090,450 99.34 4.30% 4.83%
Liberty Third..,.A. 4?/?% M-S 15 Sept. 15,1928 $4,175,050,050 $008,894,450 99.52 4.34% 4.87%
Liberty Fourth . 4*4% A-0 15 Oct 15,1938 $0,904,581,100 $017,073,250 99.50 4.29 % 4.82%
Note: In addition to the above exemptions, the income of individuals, partnerships and associations is entirely exempt
from all Federal Income Tax, including Surtax, to the extent of the following:
$5,000 in the aggregate of First 4's, First 4J4's, First Second 4^'s, Second 4's, Second 4J4's, Third *>/\'s, Fourth
4J4's, Treasury Certificates of Indebtedness, and Treasury (War) Savings Certificates.
$30,000 of First Second 4J4Js, until July 2, 1923.
$125,000 in the aggregate of First 4's, First 4}4's, First Second 4*4's, Second 4's, Second 4j4's, Third 4}4's, and
Fourth iyi's, from January 1, 1921, to July 2, 1923; and $50,000 in the aggregate thereof from July 2,
1923, until July 2, 1926,
DISCOUNT HOUSE
OF
SALOMON BROS. 8t HUTZLER
MEMBERS Ntw YORK STOCK EXCHANGE
27 PINE STREET
NEW YORK
Telephone-Bowling Green 3050
BOSTON PHILADELPHIA CHICAGO PITTSBURGH
Municipal Offerings.
(\ \V. McNear & Co. are offering
1115,000 of 6 per rent. sir-King fund ,
bonds of the city of Sheridan, Wyo., due
on March 15, 1952, optional in 1932, at ,
priccs to yield 5 per cent. They arc sen- '
eral obligations of the city, the third
largest one in Wyoming, and exempt
from Federal income taxes.
Providence "Wants Bids,
The city of Providence, R. I., will
receive bids until 2 P. M. on Thursday
for the whole or any part of $2,000,000
of its 4 per cent, gold bonds, dated
May 1. 1922, and due on May 1, 1962.
Offer f!l,800,000 Car Triltl.
Equipment trwrt 6 per cent, gold notes
of the Erie Railroad for $2,800,000 are!
being offered by J. S. Bache fc Co. at
prices to yield 5.40 to 5.80 per cent. They
are dated January 15. 1820. and mature I
-in annual Installments in 1923 to 19%. in
clusive.
Ont of Town Offering*.
H. Walker & Co., St. Louis, are
offering a new Issue of $125,000 of 5 per
rent, serial bonds of Greenville, Texas,
dated March 15, 1922, and due in 1924 to j
1918. Inclusive, at par and Interest.
The Atlantic National Bank of Jack
sonville. Fla., is offering a new Issue
Of $125,000 light, water and Ice plant 5
per cent, bonds of the city of Leesburg,
Fla., due in 1951, at 93.30, to yield 6.25
por cent.
Watlltig, T.arehen St Co., Detroit, are j
offering $275,000 of first mortgage ( per i
cent, bonds of Joseph N. Smith & Co.,
due on December 15, 1W1, at par and
Interest.
HAN HqillPMKNT HAN.
Washington, April 10.?The Colorado
ar.fl Southern Kallroad asked the Inter
state Commerce Commission to-day to
art rove ?n equipment trust security Is
sue of $1,425,000, through funds with
whloji it proposes to buy new refrigeratjr
cars.
FOREIGN INTERNAL BONDS.
Leans net Issued tn American dollar values.
Rate. Pats. Pue. Bid. Ask.
Argentine funllst) B 8?>pt... 1*43 80 81
Bclslan ires tor's). Option 1984 7.1 7?
Hrltl*h Victory? 4 Issued 1910.190 4no I
Canada r> Marl9 19.17 08<i M)<;
Cenada Nov... m'jt mh
Canada 84 Nov... 19.11 OTH (MU
Colombia fi Isaued 101 a 88 fl*
Ci-ata Rica 5 Issued 1911 r.8 81 1
French Victory.... r. Option 1P.1t 71U 72V4
French l.oan 4 Option 1943 M ' 8? i
French Premium.. 0 82 H4 I
French Loan fl Option mat 88 87 I
Italy War Loan... n 42U 43
Telotas (Brazil)... 8 laaued 1911 .V> r.n
Uruguay ......... B Isrued 191f 71* 7S<4 I
Rus R Bds F A A. Bit Fab... 1928 4 8
U. S. PRK WAR BONOS.
Rid. ???
r r <? '34. *0% an
P I 4? ??" 80?i 8*
P of c 3 ?,-> n?
Haw 4* '41.
r n 40 *7
Bid. Ash. Rid. Aak.
r MO...102% 10(114 ?
!J* r '4?. .87
tc r '2r,...10l?i 10014
P 2s r '.18 102':, 1084
r 2s r '88 103<4 . .
P 3s r -81 87 00
Welding Annually, at Present Market, about
For Immediate Investment
Standard Gas and Electric Company
8% Preferred Shares
Listed on Chicago Stock Exchange
Non-Callable Cumulative Par Value $M
1
Stability?backed by investments in modern properties diversified among
16 States, supplying more than half a million customers with necessary serv
ices in 578 cities and towns? 72 % of business electric light and power. Operated
utilities have approximately 30,000 home shareholders.
2 Dividends payable in March, June, September and December. Dividend of
2% paid March 15 was the 47th quarterly dividend.
3 Earning* after fixed charges are more than twice Preferred Stock dividend
requirements.
4 Marketability excellent, due to wide distribution of securities and position
of Company as one of the Nation's large utility investment and manage*
ment organizations. '
5 Management of operated utilities is under the experienced direction of the
Byllesby Engineering and Management Corporation.
Ask for "Foundation Investments" and Circular NH10
H. M. Byllesby and Ca
'incorporation '*
Investment Securities
111 Broadway, New York
New Haven Boston Providence Chicago
An advertisement in the Lost and Found columns of
THE NEW YORK HERALD offers a real possibility of re
covering your lost property. Telephone Worth 10?000?