The New York herald. [volume], April 20, 1922, Page 18, Image 18

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

Image provided by: Library of Congress, Washington, DC

                
Kidder, Peabody & Co.
<1 Bread SI. HSOmasMnSl
C EM 4M SI 216 IwkHflySl
MEW YORK BOSTON
Government Bonds
Investment Securities
Foreign Exchange
Letters ot Credit
Investment Circular
on Request.
Correspondent* of
IARING BROTHERS & CO, LTD
LONDON
White, Weld & Co.
14 Wall Street
New York
111 Devonshire Street
Boston
137 South La Salic Street
Chicago
Oklahoma Genl. Power Co.
1st Mortg. 6%
Maturity 1952
Price 6.60 basis
Sandusky, Ohio, Cement Co.
1st Mortg. 6V*%
Maturity 1934 to. 1937
Price 6.50 basis
Hammond Standish & Co.
1st Mortg. 7Vst%
Maturity 1937
Price 7.50 basis
Otis & Co.
49 BROAD ST., N. Y. j
Phone: Broad 2121
Cleveland Boston Detroit Cincinnati
Columbus Toledo Akron Young it own
Denver Colorado Springs
Empire Gas &
Electric Co.
First and Ref. 5s, doe 1941
This company's assets are
conservatively valued at Eight
Million Dollars as compared
with outstanding bonds of
about Five Million Dollars.
Earnings are at the rate of
twice interest requirements
on bonds. Supplies Auburn,
Geneva and surrounding com
munities in New York State.
To Yield 6.15%
WC.Laii?leyS Co.
Investments
115 BROADWAY, NEWYORK
MEMBERS NEWYOFK 5I0CK EXCHANGE
We Offer
Federal Land Bank
5% Bonds
Instrumentalities of the
United States Government
Due November 1st, 1941
Redeemable after Nov. 1, 1931
Exempt from Federal.
Sta'e, Municipal and
Local Taxation.
To yield about 4.45' '0
to redemption date and
5% thereafter
Gilbert EliottA Co.
Dtnlti in Hnnk
3aKacfc?n?r rid. r.N.t .ltow'Mir*.nA2IK>
Stocks Stronger?Steel ftets to
New High-?Libertys Lose
Ground.
The decidedly strong tone of stocks
after hesitation In the first half hour
of yesterday's business showed that
Tuesday's sharp reversal was caused
chiefly by Internal factors, derived from
last week's overenthuslastlc speculation.
The cabled news indicated that the Qer
man-RussIan sensation in Genoa was
viewed in & calmer light by allied
statesmen than It was on Tuesday and
that Influence probaby had effect In I
cho-klng sales for the fall of prices. !
Tn the foreign exchanges study of the
conference news brought about & fair
recovery of francs and lire, and sterling,
which had been steady all along, sug
gested a lack of concern In London by
advancing slightly. The markets
breathed easier over the soldiers' bonus
outlook because of Information that
I resident Harding was unmoved In his
stand against a measure whlet? did not
embody his original suggestion of means
to raise the necessary money.
As call money was offered In large
quantity at 3<4 per cent, and as steel
trade and other Industrial comment
was fully as constructive as it had been
at any other time in this month, de
iTito the coal strike, speculation for
tho rise regained some of the confidence
lost on Tuesday and swung along at a
fast paco In the afternoon. The re
siliency of United States Steel, which
rearhod a new high point for the year
at carried In its train other steel,
railroad equipment, petroleum and auto
mobile Issues and several rails for net
gains of 1*4 to moro than \ points. A
bulge of 4% points In Standard Oil of
California and of 4?i points m Consoll
,ndicatecl buying of iarKer
operations30 attend8 casUul speculative
The action of bonds was Interesting
morAUS<Lh. Kh? dccllno of '<4 Point and
occurred among several
^ .""ty Issues at the sama time that
torelgn government and domestic
S?!0n b?nds *cre recovering from
Tuesday s moderate reaction. Ever sin^e
par was reached by the moro active
Liberty bonds last week there have
?n!in JTc"rrcnt ?>*ns Of realizing sales.
#" 0f Dressur? evidently
accounted for yesterday's retreat. Cer
'7? Wa? nothln* ,n the money
situation to explain It. The Street has
ceased expressing surprise that the
local reserve rediscount rate remains
at 4h per cent, although there seems
to be no reason, on the surface at least.
n?rV ?hould not be put down to a
f^ure vl f I Bank of England's
for snol, ?7 y Was th0 reSul?r day
for such action, but none was taken:
nor was any light thrown on the at
titude of tho bank's directors.
vinCtPt ?f.?l" sh?rta*e in the Connells
unnn?7'7' 10 WhiCh SeVeral non
union mines have closed down, tho stee'
strike Thn?TTbu".aJfeCt?d by th0 coal
strike. Tho Lnited States Steel Corre
lation s steel works and rolling mill op
erations are holding at 75 pe? cent, of
capacity according to the Iron Age, and
independent plants are at 70 pt-r cent
i hooklUfi" biggest that the
mai^v ?!? W . ordcrs In March put
position " ,n S? com^ortablo a
L ? u. y arc not Peking orders
Zn litlK," f?y <IW anfl t!,at sltua
r " V *'fect ,n "OWenlng prices.
this advanced $1 to 13 a ton
nesa ,nnn," f8"14' part'y. of nervou,
resuit. of ahout
reauits or tho strike if continued for
several week,. Tt is not clearTet how
by thouLh? bllylnK Was hastetird
materia* ^t*h ^
ment as to whether or not the reernt
i rcrroscntativo of a perma
nent change of steel production Is ab
slK-er" carried*^t?'t ^ an ounf>?
rfr K*V'raC',b" " for "hi
FOREIGN EXCHANGE.
WEDNESDAY. APRIL 19. 1922.
?iREAT BRITAIN.
Parity. Wedne*- Tun
*t .8048 Pterllnc:
day. day. April 12.
T'omaivl $4.41% $4 41% 94.41%
tables 4.42 4.41'j 4.41 aI
Hankers, 00 dv* 4 .';8% 4..ITT, 4..1SU
Banker*. 90 dya 4.37% 4.30% 4 .".("J
THE CONTINENT.
19.30 France. ccnta a franc:
Demand 9.28% * 2d
Cable* !>,30 ;l.28%
19 30 Hi'lfrium, ccnta a franc:
I 'emand 8.57U. 8.55%
Cables 8.58 8.50
18.30 Switzerland, cent* a franc:
Demand 19 4.". 19.4.1
Cable* 19 47 19.45
19.30 Ttaly, rents a lira:
225*
9.27
8.59%
?.oo
Demand
Cable* ...
23.SO Germany,
I >emand .
Cable* ...
20.80 Sweden. c
Demand .
Cable*
.'.43'J r..42'i
...44 5.43
cent* m mark:
34% .345*
34 M, .S4H
enta a krone:
25.90 25.113
25.90
19 41
19.1(1
r.,40
:..46'4
.38%
.33*4
e? oo
20.03
26.*0 Norway, centa a krone:
Demand 19.05 1*.*.* 18.45
Cable* 19.10 10.00 18.50
28.90 Denmark. cent* a krone:
1 "einntid 21.20 21.22 21.20
Cable* 21.25 21.23 21.23
19.30 Greaoo, cent* a drachma:
Demand 4,30 4.53 4.W
Cables 4.57 4.57 4.57
19.30 Spain. rents a peseta:
Demand 13.88 15.85 15.53
'"able 18.67 13.57
40.20 Holland, cents a florin:
Demand 37.00 37.90 37.90
rililel 37.95 37.95 37.95
51.44 Russia. rent* a ruble:
10O ruble* 07% .07% .08
"?Oil rublea 08*4 .08% .08%
20.20 Austria. cent* a crown.
Demand 01% .01% .81%
Cable* 01% .01% .01%
23.80 Poland, cent* a mark:
Demand 02% .02% .02%
Cable* 0.1 .03 .03
20.30 llunpary, cent* a crown:
Demand 13 .1?% .1*
(.able- 14 .!? .14
20.30 .lugo Slavla, ccnt* a crown:
Demand 33% .32% .33%
?able* .14% .34 >85
19.30 I Inland, renta a mark: _
Demand 1.90 1,90
Cable* l.flt 1.91
20 20 Cxerho-Mlovakla. ccnta a crown:
Demand 2.02 2.04
Cable* 2.08 2.05
19.30 Ttumanla, cents a leu:
Demand 75 .75%
Cable* 70 .70
$4 40 Turkey, cents a pound:
t>emand 72 00 72.00
Cable 74.00
FAR EAST.
108 32 Fhantbal, ccnt* a tacl:
Demand 77.00 74.50
? able* 77.M) 73.00
78.00 Monakonf, cent* a dollar:
I>eniand ..'..,.57.11% 30.25
Cable* 57.75 53.73
48.80 lion.bay, centn n rupeo:
I?mand 28.25 28.12%
Cable* 28.50 28.37%
49.81 Yokohama. cent? n yen:
D'-maud 47.50 47.50
Cable* 47.75 47.75
KOI'tn AMERICA.
32.41 Ulo <!? Janeiro, rent* a mllrels:
Demand 13.70 1.8.75 13.70
cables 18.73 1.1.81 13.73
42 43 Hueno* Aire*, cent' a peso:
Demand .'15 62% 35.75
c?hlos 33.70 35.80
103 42 Cruioisy, cent* a dollar:
Demand 78.82%' 79.00
Cables 78.75
38.30 Chile, cent* a poao?
Drrnand 11.12% 11.23
11.50 ....
CANADA.
Me* Tork fund* In Montreal, 123.12
$1,000. Montreal fund* In New Tork. 82?
discount a ?l.0O0.
*81
2.02
?TO
.77
70.80
72.00
?3.00
'3.50
84.73
33.25
28.12%
28.37%
47.37%
47.02%
33.87
35.94
79.37%
79.12V4 78 50
NEW YORK STOCK EXCHANGE QUOTATIONS.
WEDNESDAY, APRIL 19, 1922.
Dayje sales
Hlgh.|' Low. |
r- Olo.-trif JPIv.
Bid. | Ask.
T
Kales. |
1922. 1921.
1,123.941 404.829
|*5p?u- | High-1 l.ow-1 Cloi
1920.
2,006,(34
Wit"
Inc. I e?t. I ??t. I lag. |Ch'ng?.
6a
18%
50
57%
18 V*
1%
110%
69%
48
10-41
60
17%
b6
18
50
54%
17%
1%
107 110% 112
55% i 67 | 67-%
31% 49
45%i 53%
13% 17 %l
% 1
IA I
119)4101 (106% 1108
49%I 37% 1 48%
94%l 86Vfe! 94
41%; 29%
77 %
44
49
62%
50%
104%
164%! 141
120% 115%
13V "
2T%! 19%
57% I 41
57
31%
31 %
51
32%
93%jl04
161
118
12
39
70*
41%
45%
60
48%
6%
17%,
72%
114%
48
12%
36^
69%
116%
118
90%
8%
!"?*
59%
98%
93
138
4%
12
58
78
25%
6
16%
69%
107%
S87j,l 46%
9% I 12
33%
56
29-1
54 %
102
112
39
98% I
3%
5%
! 43%
' 86%
I 87
1109%
30%
91
54%
100 I 84
36% 23%
124%!ll4%
142% 1129%
138%!l26
96%
<
78%
22%
12%
47
10
29
43
102%
14
95%
8I%
54%
20%
51%
?7%
83%
110
101%
91%
5%
100%
5%
21%
34%
24%
28
85
119%
49%
61%
47%
49%
2G%
1%
78%
80%
8%
1%
29%
24%
23%
97%
51
56
130
42%
92%
24
29%
15%
78%
58
98%
7%
145
6
99
91%
85
%
83
2%
13%
23%
16%
9%
6S
92%
33%
52%
40
19%
19%
%
51
55%
4%
%
19%
6%
5%
70
42
50%
115
28%
87 k
28
5%
20%
10%
88
43%
83
5%
11?%
3
40%) 29%
i4
37%)
47%
79%
66% |
19% i
63%
32%
34
47%
54
1 %
3%
12%
31%
5%
41%
8%
23%
29%
47 j 29
76% I 59
ii2%;ioo
47%' 30%
114%
115%
87
T%
17%
57%
97%
92
133%
37%
98%
74%
99%
34%
121%
140
136%
100%
13
92
34%
16
53%
18
48%
53%
83
113
100%
91 %
4%
99%
4%
19%
32 \
22%
24%
80
116%
48%
60%
47
47%
34
1
75
78%
6%
1
27
22%
19%
96
48
56
128
40
91%
28%
6%
27%
13%
77%
56
95
6%
141%
4%
39
72%
36%
44%
76
65%
8%
17
24
44%
8%
14%! 22%
16%I 28%
29 | 45%
75%
! 49
94%
39%
74%
42
46
SI
48%
104%
162
119
12%
26
58
6%
16%
70
108
46%
12%
34%
57
115%
11?%
88
7%
17%
58
97%
92%
134
37%
99%
75
100
34%
121%
141
137
101%
13% i
92%
35%
16%
52%
19%
48%
54
84
115
101
94
5
100
?1%
19%
32%
23
25
S4
116%
48%
61%
47%
47%
35
1%
76
79%
f.%
1%
27%
23
20%
96%
43
59
128%;
40% I
92%
29
6%
28
14
77%
56%
97%
6%
142%
5
39%
78%
36%
46
76%
65%
9
18%
24%
44%
8%
22% 1
28% I
46 1
75%
10
clO
110% 1110%
46%: 46%|
83
96
r,r.
93%
19%
29%
66
60%
55 %
33%
49%
85%
4
18%
75%
30 %
116%
16%
70%
83%
81
83
15%
25%
54
43
41
24
38
61%
1%
13%
55%
18%
85
12
, 82%
' 95%
! 64
? 92%
1 18%
28%
1 63%
' 55%' 56
| 54% 54%
30% 31
83
95%
64%
93
18%
29
65
49
83%
3
13%
74%
26%
116%
16% I 15%
* 1
(?8 1 45%! 64%I f.5%
108%' 91 % 1103r,? 103%
116% in 'n.r>%'ii7
42% | 31%' 41V 42
67% I 52% ! 63%' 64
88%| 80 | 86%] 87%
49%
83%
3%]
13%
75 i
29 '
'116%;
26-T4
19%
40 %
6,"
14%
8% !
15% I
1 48",
16%
35
61 M
23-X
16%
35%
61%
f6'
3*1
122% 106% 120%'122%'
119% 110% |115 '115%;
108% 100%'107
28%! 18%I 26
5% 2%
10% 3%
800 600
179% 1125
21%! 14%
76%
104
7
11%
7%
75%!
"1%
87%
110
13%
22%
15
85%
99
127
18%
20%
1%
67
103%
76
5%
10
775
172
19%
86%
109%
13
22%
14%
10
26% I
6
11
780
173
20%
87
110
13%
22%
14%
11%
12%
%
55%
90
65
80%| 80%|
93 | 94%!
127%|
17%l
16%'
144% 136
125%
17%
16%
%
63 63%
98 '102
; 75%; 76%
1161 % Il63
xl.
13*
81 I
94%'.
41%'
90%:
30%'
*
80%!
45%
29%!
14%
15 i
35% i
90%'
3%). %|
21%; 15
75 ! 55
8% I 12%
67% I 79%
79%' 94^
3 4% I 41%
80%! 89%
26 ! 26%
% ??
70% 75%
31% 42
25% 28%
6% 12%
5 I 13
16 '
44%'
17%
9%!
82%!
109"*!
4%
10 I
42%l
33
SI
2%
20
73 %
16%
12%
11%;
43%' n
36%; 26
?8%! 22
98 ! 79%
10%
3%' 7%
70 1 78
07%' 107
3 % ! 4 %
5%! 6%
37%! 40%
1 1 3%
3%' 9%
7%j 10%
39
12%
80
94%
41%
89%
27%
75%
42%
29
12%
I 14
; 34%
I 82
I 2%!
20%!
74 :
! lr,7?!
: 8%'
79
109 '
: 4%;
41 1
3%;
9%
10%;
... . 30%'
34% 35
26 ?; i
96%l
110% |l0fi%! 109% 1110 % J
21 ( H%< 20%' 20%!
100;Adama Exp.
300 Adv Rumely
200, Adv Hum P t
200' Air Reduction.
lSOOjAJax Rubber.
300jAlaska Juneau
100 All Am Cables 110% 1110%
4200
200
2400
100
200
100
1500
900
200
7800
100
800
100
700
Allied C. &. D
Allied C & D pf 107% 107%
Allls Chalm.
Allis Chalm pf
Am Ag Chem.
Am Bk Note.
Am Beet Sug
Am Bosch M.
Am Br iS & F.
Am Can
Ain Can pf..
Am Car & Fdy 160
Am Car& F pf 119
Am Chlclo
300Am Cot oil..
100 Am Cot Oil pf.
800 Am Drug Syn
800'Am Hide & Ij
900 Am H & Ij pf.
3800! Am Ico
3500!Am Int Corp.
1100] Am LaFF Eng
1100 Am Unseed...
%00 !Am Linseed pf
67001 Am Ix)com ..
100'Am Locom pf
1001 Am Radiator.
1100!Am Maf IUzor
4800] Ain Sh & Com
3400 Am Sin & Ref.
1001 AmSm&Ref pf
1001 Am Km Sco IA
2O0]Ani Snuff
3600[Am Steel Fdy.
100] Am *>tl Fdy pf
9000 Am Sugar ....
200!Am Sugar pf.
3600; Am Sum Tob.
2700 Am Tel & Tel.
HOOUVm Tobacco..
900[Am Tob pf....
100 AinTob pf new
100 All! W W El..
10300 Am Woolen ..
400 Am Writ P Pf.
100 Am Z, L & S..
3800'Anaconda ....
300|Ann Arbor ...
3900 Ann Arbor pf.
200 Asso I>ry Gds.
100 As D G 1st pf.
100 Asso Oil
6000 Atch, T & S P.
COO) A, T4SF pf.
1900 At. Birni & Atl
300!Atlantic C L..
6700! Atlantic Fruit.
300!Atlas Tack ...
1200 A, Gulf & W 1
100! A. O & W I pf
1800[Austin Nichols
100! Austin Nich pf
19100 Baldwin Loco
21700 Bait & Ohio.
300 Bait & Ohio Pf
400 Barnot Leath.
1700 Barnsdall A...
1000 Barnsdall B...
200 Batopiiaa
IGOO'Beth Steel
14900 Beth Steel B..
100!Booth Fish ...
2400|Brook Ed its..
100 i Brit E S 2d pf.
4500 Brooklyn R T.
12001B R T ctfs
900'Brook Un Gas
1200!Brown Shoe...
6! Buff. R & Pitts
2100 Burns Bros ..
1900 Burns Bros B.
100 Bush Term pf.
lOOOIButterick
1100] Butte Cop & Z.
700lButte & Sup..
900iCadd<? C O&R
800|Cal Packing...
2100 CaI Petrol
100 Cal Petrol pf..
1400:Callahan Z&L
3400:Canadi(i n 1'ac. 141%
100!Case (.TI) P W
7100'Cen Leather..
500 'fen Leather pf
4800jCerro de Pasco
llOOjCertaln-teed ..
3900'f'handler Mot.
1400 Chesap & Ohio
lOOOlChi & Alton...
900 Chi & Alton pf
3300
1600
800
1400
7400
11100
2300
100
17200
300
300
100
500
6300
1200
1000
5Q0
14000
500
700
2300
1600
1100
4700
100
17700
Chi East Til..
Chi East Til pf
Chi Gl West..
Chi Qt West pf
Chi. M & St P.
C. M & St P pf
Chi & Nwn..
Chi & Nwn pf. 111%
64% 1 64%
18 1 18%
49%' 49%
54 ! 54
17 17%
1 I 1%
66%! 67%
48%
94
38%
72%
40%
44
61
46%
104%
11%
25%
56%
6%
15%
68%
106
45%
12
33%
56%
113%
116
86%
7%
16
56%
97%
92
132%
37
49
94
38%
72%
42%
46
61
48%
104%
162
119
12
26
66%
6%
16
70%
110
47
12%
34%
56%
115%
116
86%
7%
17%
58%
97%
92
133%
37%
?4%
18
49%
54
17
1
110%
66%
106%
48%
94
38%
72%
40%
44
60%
64%
18%
49%
54
17%
1%
110%
67%
106%
48%
94
38%
72%
41%
46
60%
? %
+ 1
+
?+
+
+
+
-+
46%i 48%
104% |104%
160 1161%
119 119
1
1%
%
1%
+ 1%
11%
25%
56%
6
16%
68%
105%
45%
11%
33%
2 I +
+
56%
16
69%
108
46%
12
34%
56% | 56%
113% 111 5
116
86%
7%
16
56%
97%
92
132%
37
98%I 98% I
72%
99%
34%
r6
99%
36
137%
100%
33%
91
34%
16%
52%
18
48%
54
83%
114
100%
91%
4%
99
4%
19%
31%
23
84
115%
47%
60%
46
47
33%
1%
73
76%
6%
1
27
*>2 U
19%
95
48
54
126%
39
92%
27%
7
27%
13%
77%
96%
6%
3 S
72
36%
41
74%
64%
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23
43%
8%
22%
27%
45%
74%
?100%
13%
93
34%
16%
53%
18%
49%
54
S3%
114
101%
91%
5
99%
.4%
19%
32%
23
25%
84
117%
49%
60%
47
47%
34
1%
75%
79%
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27
23%
21
96%
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54
129
40%
92%
29
7
28
14
77%
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4%
39%
72
36%
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76%
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34
+
120%|121 % 120% 121% +
139% 1141% 139% 141% +
137% 136% 136% +
100%
13%
90%
34%
16%
52%
18
48
54
83%
114
100%
91
4%
99
4
19%
31%
23
24%
84
115%
47%
60%
46
47
33%
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73
76%
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%
27
22%
19%
95
48
64
126%
39
92%
27%
6%
13%
77%
65
96%
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41
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116
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57% +
97%
92
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37%!?
4
+
98% 98%
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99% ?
34% ?
100%
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92
34%
16%
53%
18%
48%
54
83%
114
100%
91%
4%
99%
4%
19%
32%
23
24%
84
116%
48%
60%
47
47%
34
1%
75%
78%
6%
1%
27
22%
20
96%
49%
54
129
40%
92%
29
6%
27%
13%
77%
55% +
96% +
6% +
142% 140% 141% ? %
8
18
23%
44%
8%
22%
28%
46%
75%
111%
47
82%
95%
Chi. R I & P. ? 45%
C;R1&P 6 pc pf 82%
C.RI&P 7 pc pf 95%
C. St P. MAO 64%! 64%
Chi.StfPM&O pf 93 ! 93
Chile Copper.. 18%, 19
Chino Copper. 28%! 29%
C, C, C & St Ij. 65 I 65%
Cluctt, P & Co. 55 I 56
Coca-Cola .... 52%; 55%
Col Fuel & Ir. 31% 31%
Col & Southern 48% 49
Col Can A El.. 82%I 83%
Owl Orapho... 3% 3%
Col Graph pf.. 14 : 14
Comp Tab Rec 72 i'75%
Consol Cigar.. 28%; 28%
Consol Gas jll3%;116%
41900|Consol Textile. J 13%; 15%; 13%
300!Cons Distrlb..' %! % %
400ir'ontin Can... 64% 65%! 64%
6200!Corn Prod Ref."103% 103% 1102%
:!00'('orn Prod Apf|l15% ll4% II"1,
12600jCosdcn &Co..! 40%j 41%
4300'CrucibloiSleel..1 62% 64%
100'Crucible Stl pf.i 87 J
4200'Cuban Am S..' 22%;
7400jCuba Cano Susr 16 |
3500(Cuba Cane S pf j 34%; 35%
5400] Davison Chem I 60 61%
IOO'Del & Hudson.|120 1120
8%
17
22%
43%
8%
22%
27%
45%
74%
111%
45%
82%
95%
64%
93
18%
28%
64%
55
52%
31
48%
82%
3
13%
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4% +
39% +
72
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vk
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44%
8%
22%
28%
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87
23}
16%
40%
62%
87
22%
16
34%
59%
120
300',Del. l<ack & W 115 115%'116
+
+
+
+
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111%,
46%| +
82% +
95%: ,
64% ?
93 '?
18%!?
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64% ?
55%! +
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49 +
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75 ! +
28%;?
116%' +
15%! +
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65%
103%
116%
41%
63%
87 '
23 +
16% +
36% +
61%
120
lOO^Detrolt Edison 107 J107
700lDomc> Mines... 25%! 28
200'Dill, S S & Atl 5% 5%
200 Dili. SSAAtl pf 10 10%
88(East Kodak .. 770 779%
4000 Eleo 'Star Bat. 167 172%
200!Elk Horn C... 19% 19%
6800|Endlcott John 84% 87%
60'Endl John pf. 110 110
1800lErle 13 13%
2300!Erlo 1st pf.... 21% 22%
600 Erie 2d pf 14% 14%
71 On j Earn Play-Ij... 80 80%
fOO Fam Play-Lpf 94 94
llOO;Fisher Body... 122 125%
4800 Flsk Rubber... 17% *7%
R00!Kreeport T*x..! 16% 17
300j0as, W & Wig! %' %
3400 G?n Asphalt..] 63 | 63%
107
25%
5%
10
770
166%
19%
?4%
110
13
21%
14%
70%
94
123
17%
1G%
%
61%
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2%
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%
'%
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1%
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%
%
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%
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4%
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+
12 ! 12%
79%! 80
94 ! 94%
40%l 41%
89 | 90%
S7MM
%i
75 I
40%!
28%'
12
%
75%
43
28%
12%
12
79%
93%
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89
27
%
715
40%
28%
12
13%
33%
79
2%!
20%I 30%1 20%J
74%! 74%' 73%
16%' 16%! 1?%
7% 7% | 7% 1
78 I 79%' 77 I
~ 106
115%
107
26
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172%
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110
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63 1 +
98%! 98%! ?
! 73%I 76 +
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+ ?%
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+ a%
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lOOIGenAsphalt pfi 98% 98%
2900 Oen Cigar .... 73% 76
500!?< n Electric..! 161 !162
:i700'Gen Motors
650'Gen Mot deb..
500!GM<lcb pf 7 pc
4400'Goodrich
GOOOoodrich pf...
200lGranby C MA'S
1800!Granby rts ...
1400!0rt Nor pf....
8400'Grt Nor Ore..
100!Grecne Can C.
1500'Gunn Sugar... _ _ ?
100!Gulf, Mob & N! 13%] 13%
100iGulf,M & N pfl 33% I 33%
6900!<4ulf States S.I SO '82%
900'Hablrshaw EC' 2%I 2%
200!Hen<loe Mfg.. .1
200jHnmestnke ...
600'Hupp Motor..
lOOlHydraullc Stl.!
37001 Houston oil...'
900'III (Vnt '107 '107%
2000'Indialioma ... 4%! 4%
IftOlTnd Ref ' 7 ' 7
S00|Tns?piration C..; 40%' 40%
3700 Tnterboro C.... 3%[ 3%
4700'Tntor C pf 8%
lOOitnt AgrlCorp.' 10%
100 fnf Agri C pf.' 39
200Tnter Cement. I 34%
1100'Irt Comb Eng.' 26
100. rnt Tfarv Co..' 9S% .
400 Int FTnff r"o pf!t08% 109 '108% J09 1 +
19001 Tnt \f*r Mnr.,1 19%l 20%l 19 ] 20%l+
40%
3%
8%
10%
12% +
80 1 +
94%' +
41% +
90% +
27
%
76%
42
28%
12%
13%
33%
81
2%
20%;
73% !?
16%' +
I 7%'
t 7??(,l4
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j 4o%;+
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1 9%: +
10% ?
1%
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%
%.
%
1%
%
%
9%
10%, .
39 i 39 i 39 j?
34%' 34%' 34% +
26%| 25%! 26%' +
96 ! 95 %' 96 ! -I
1%
4
Year to date.,
1022. ,| f-Clo?ln*.
Hlrh.t Low. I Bid. | Aik. In 1-1 BaJw.J
84%
18%
79 %
52
62%
11%
CO
43%
71%i 59
82% I 83%
17% 17%
75% 76%
47 ; 47%
66%! 67H
Dlv.l
1922. 1M1.
76.254.846 _ _48.57i.lU0
(Open- | iHllb-1 tow
1 lng. I e?t. j
1920.
89,051.647
Tclo?-|
I lnrlGh'flg#.
20%
35
111
3
21%
70
41
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58%
43-%
111
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19%
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18
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115
169%
3 8%
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M
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lin
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CO
?3%
52
49%
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43%
11
r.o%
67
84
29
66%
21%
120%
21%
135%
29%
16
? 6%
22%
8%
14%
37%
25%
59%
72%
20%
34
140
44%
4%
43%
94%
113%
12%
6%
18%
68
77%
92%
66%
72%
33%
23%
30%
106%
60%
43%
82%
36%
14%
49%
3
20%
96
16%
66%
38
12%
70%
15%
60
66%
59%
12
17
43
11%
8:
12% I 18%' 18%
24 '30 | 30%
110
%
10 20
38% 68
34% 89%
4% j 5 Vi
22 27%
52% 57
34% I 48
61 1104
25tf 31% 31%'
15% i 18% 19
110 1140% !l42% i
20%
69%
40
5%
27%
58
48%
105
6300llnt MarM pf..
4900| I nt Nickel
lOOjlnt Nickel pf..
1700!Int fa per
300lint Pap pf stpd
7200i Invln Oil
5200'iron Products.
300 J Island Ok Ooal.
49001 Island Oil & Tr
lOO.Iewei Tea
300j.Jewel Tea pf..
3000'Jones Bros T..
6700'Kansas & Gulf
1000
300
5900
44
43
10
26%
56%
91
153%
11
9
36
54
63%
16
33%
62%
111%
167
18
12%
48%
147% 1150%
108
25%
68%
74
72
15%
30%
33
41
32
3
17
35
20%
23%
59%
11
101
13%
106%
25%
11%
27%
5
%
7%
21%
16
43%
63
12
19%
123%
36
1
30%
85
108
7
8
13%
54%
67
72%
51%
61%
28
12%
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44%
38
74%
30%
11
47
12%
90
9%
40%
24%
6 %
62%
11
44%
48%
44
7%
11%
83%
6%
59%
80%! 19
67%' 50%
75 63
40 I 31 Vi\ 38%
93%t 88%' 92
117%
39%
80%
73%
88
21%
47%
45%
56
40%
S%
41%
61%
29%
27%
66
19%
117%
18%
132%
29%
33
34%
11%
7%
13%
36%
24%
57%
70%
19%
22%
138
40
3%
36%
94%
109%
12%
5%
17%
67
73
91%
65%
69
31%
23%
28
105
57
42%
77%
30
13
47
2%
19
54%
64%! ..
17 ..
33%; 2
6 i 3%
112%
Kan Cy South.
Kan City K pf.
Kelly Sp Tirs.
600iK?:lsey Wheel.
6900iKennecott
3400'Key Tire A R.
400|Kresge S 8....
18001 Lack Steel....
100 Laclede Oas..
100;Lake 15 & W.
81%
17
74%
46%
66%
18%
29%
110
%. -
20%\l 20%
83%
17%
74%
48%
66%
19
31%
111
69
39
5%
27%
58
46%
104
32
69%
40%
I 5%
i 27%
58%
I 48%
1104
! 32
169%,
1S%
12%
49%
151%
113
39%
80%
74%
89
21%
48
45%
57%
40%
9
42%
62
29%
28
66%
19%
118%
18%
132%
29%
15%
35
11%
8%
14
36%
24%
58%
70 Ti
19%
32%
139
42
3%
37
94%
111
12%
6
17%
67%
74
91%
66%
70
32
23%
28%
106
57%
42%
77%
31
13%
48
2%
19%
134% 136%
14%! 15%
63%I 66%
36%| 36%
10%, 11
70 70%
14 I 15%
58% | 58%
64%
57%
7%
14%
41%
10%
84%
29%
65
74
64%
58
8%
14%
41%
10%
84%
30
66
80
38%
95
12
12
1.20
600
700
1000
100
6600
800
Lee Rub A T..
Lehigh Valley.
18% 19%
141 142
52%! 54%
63
17
32%!
62
63
17
34
63
Lima Loco ...!lll%)ll3
Us A M Tob.
Loews Inc
Loft Inc
2%
20o'Looeo Wiles B
100 Lortllard, P...
100 Ijouis & Nash.
4000 Mack Tr Inc..
500 Mack T I 1 pf.
300 Muck T I 2 pf.
100 Mackay Cos...
300 Malllnson A Co
600 Munatl Sugar.
64001 Man Elo Guar
1100 Man Klec S...
5700iManhat Shirt
10001 Market St Ry
lOtfMfct s r ist pf
7001 Mkt S R pr pf
1300 i Mart -Parry ..
700]Marland Oil ..
11200]Max Motor A.
3900!Max Motor B.
400 Mays Dept St.
900 Meln tyro Por.
80300 Mex Petrol ...
1000'Miami Copper.
23500|Mid States Oil.
12500IMidvalo S & O
1400IM & St It new.
100 Mo, K AT
2400
400
4100
3600
169
17%
12%
49
150%
80
74
88%
22
48
43%
57%
169
18%
12%
49
81%
16%
74%
46%
66%
18%
29%
110
%
20%
69
39
5
27%
58
46%
104
31%
18%
141
r?2%
63
17
32%
62
111%
169
17%
12%
49
150% 150%
117%
! 39%
( 80%
74
88%
82%
17%
74%
47%
66%
18%
30
111
%
20%
69
39%
1 5%
27%
58%
48%
104
31%
18%
142
54
63
17
34
63
112%
169
18%
12%
. 49
150%
+ 1%
+ %
%
+ %
? %
+ %
? %
4- %
+ %
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? 1%
+ "%
+ 3
+ 1
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4- 1%
4- 1
4- 1%
> 2
+ %
48
46
r,7 %
Mo. K & T w i
M.KAT pf w i
Mo Pacific. ...
Mo Pao pf....
1001 Mont Power...
3400!Mont; W & Co.
400
100
100
Mulllns Body..
Natl Biscuit...
Nat Cllt & Suit
700lNat C & Cable
2500
8300
100>Nat Lead pf.
1100
11000
3500
200
^00
7400
1500
100
100
87800
1000
Nat Enam A S
Nat Lead ....
NRRM 1st pf
N RRM 2d pf
Nevada Con C
N Orl, Tex&M
N T lAir Brake
N X" Central..
NY. ChlASt L.
NY.CAStL 2 pf
N Y Dock....
NY. N H A H
N Y. Ont & W
1400|Norf A West.. |
1700!Not* Amer Co.
40%! 41%
S%! 9%
41%
60%
28%
28
65%
18%
1161/
18%
130%
29
14%
34
11
7%
13%
36
23%
57%
71
19%
31%
138%
41%
3%
36%
92
110
12
5%
16%
67%
73
91
4- 1%
+ %
ii7%;ii7%? %
36% I 39(4 4- 2%
80 i 80% + ?"&
73% 73% j?
88%! 88% ? 1%
21 %| 21%!? %
48 i 48 |?1
45% 4- 2%
69
31%
22%
27%
104%
56%
300|Nor Am Co pf! 42%
2400!North Pacific. | 77
1001 Nova Sco S&C 30%
500|Ghlo BAB Co. 12%
100 Ohio Fuel S... 47
3600 Okla P & Ref.. 2%
900l0n>heum Circ.l 18%
43%
54%
40%
? 8%
41% 41%
lOOlOtis Elev pf..
2300l0tis Steel
3001Otis Steel pf..
2300'0wens Bottle..
26700|Paciflo Bevel..
1200 Pac Gas & El.
100!Pacific Mail...
154001 Pacific Oil
6400
1600
400
500
9700
7900
95
14%
65
11
70
15
57%
64
14%
41%
10%
84
39% 28% j 38%' 38%' 2
23% 13%' 22% 22% I ..
49 27%! 46% 47 ..
12 7 ! 9%! 9%! ..
71 ! 39 ! B4 ! 54% I ..
63% I 58%! 60 60%! 5
68 I 65% I 66% i 67 ! 5
107 Il05%:i05%ll0'; ' 8
34%! 23 I 33% 33%I ..
84 76 I 83 85 j 6
19% 14% I 17%! 18 !l%
81%! 63 1 79 79%! ..
96 I 91 1 95% 96 i 7
31 '24 j 29%| 30 ..
87%! 66 1 87 87%| 6
126 (105% 123% 124 8
43%I 30% 40 40%! ..
38%I 29% 34% 34%!
102% 99 102% 103
2
81
81
26% '1.85
102%! 94 Il00%i'l01
26%' 19%! 25
17 I 13%! 16% 16%
80%' 71%' 76% 77 I
48%! 43 43% 45
61% 45%I 47% 48
42 24 I 33% 34
41 ! 25%j 32%' 33
1%] %
8%' 4%
58%! 46%
87%! 74
47 ! 53
113%!111%
21 ! 8%
66 | 46%
Pan Ara P & T
I'anAm P&T Bl 57
Panhdle P&R! 7%
Par & BIng...
Penn R R
Pcnn Sea Stl...
1200lPeoples Gas..
2800lPere Marq ...
3001Pere Murn pf.
lOOiPero Mar pr pf
600'Phlla Co
lOO'Phlllips .T pf..
2500!Phillips Pet...
3800!Pierce Arrow..
2600!Pierce Ar pf..
68001 Pierco Oil
300,Pierce Oil pf..
1200) Pitts Coal
HOO Postum Cereal.
300 Postum C pf..
34001 Pitts W Va..
100! Pitts & W V pf
300!PondCr Coal..
1100!Press Stl Co..
200[Press Stl pf...
800'Producers A R
3400jPub Serv (N J.
3100|Pullman
2300|Punta A1 Sug.
7200 Pure Oil
100 Pure Oil pf....
6001 Rail 'Steel Spr.
200|Rand Mines...
1500-Ray Con Cop..
4600|ReadlnR
61%
30
28
66%
19%
117%
18%
133%
29%
15%
35%
11%
7%
14%
36%
24%
58%
71
20
32%
138%
41%
3%
37%
94%
110
12%
6%
17%
67%
74
91%
66%
69
31%
23%
28
105%
57%
42%
77%
30%
13
47
2%
19
95
15%
66
36%
12%
70%
15
59
65
58%
8
14%
42%
10%
I 84%
40"i
9
41%
61%
30
28
66
19%
117%
18%
132%
29%
15%
34%
11%
7%
14
36%
24%
57%
71
19%
32%
188%
41%
3%
36%
94%
110
12%
5%
17%
67%
74
91%
66%
69
31%
23%
28
105%
56
42% | 42%
76%
30%
12%
47
2%
18%
95
14%
65
35
10%
70
15
60%
28%
27%
65
18%
116%
18%
129%
29
14%
34
11
7%
13%
36
23%
57%
71
19%
31%
138%
41%
3%
36%
92
110
11%
6%
16%
67
73
90%
65
69
31%
21%
27%
104%
%
1%
%
%
%
4- 1%
4
4*
4*
4- 1%'
4- %
4- 1%
4- 1
4- %
+ 2
4- %
29%! 30%
67%
63%
56%
7%
14%
41
10%
84
%
I? 1
77%' +
30% ]?
13 ?
47 !
2%'?
19 !4
9
15 | +
66 4
86%!4
11 14
70% 4
15 I
58%! 4- 1%
64% 14
67% 4
1%
%
65%! 65%! 6?
75 I 75
38%! 38%
93%| 93%
37%| 38%
21%! 22%
29%! 30
14%: .
41%
10%'4
S4%|4
45 I
9% I
63%!
59%
66%
105%
46%
9%
54%
60%
67
38%
93%
37%
21%'
45
9%
65
75
38% j4
93%
38%
22%
46%
9%
53%! 54%
59% I 60%
65% 67
%
4- %
4- %
4- 1
4- 1%
82%
84
18
78
96
29
86%
128
38%
4*
'106% '105% ' 106%' 4
" ? 4
4
4- %
4- 1%
35%
14%
31%
51%
31%
45%
6%
24%
1%
10
14%
77
23%
9
47%
36%
46%
77
6% | 7 f
55%' 57%'
81%! 81%'
46% 47 !
Ill '112%
18 ! 18%I ..|
63 63% 5.20
17%| 33 35 ! ..]
12% I 14%, 14% I if
20%' 29%i 30%'
50% 51%!
30% . 31
100'Readlng 1st pf.: 45
lOO'Readlnpr 2d pf.
700!KemlnKton Ty.
2200*ReploRle Stl...
2200'ReploKle St rts
300|Rep Mot Tr. ...I ?
4600!Rep Ir & Stl..] 64%!
100 Rep* Tr & S pf. 81 !
3| 9500i Reynolds TB.? 45%
33% 82
84 84
18 18
79% 77%
96 95%
29% 29
87% 86
124 123
40% 37%
33%' 34% 33%
102%! 102% 1102% 1102% i 4- 1%
100 [101 f 100 jlOl j 4- 1
25 1 25
16%) 16%
77%! 76%
45 | 45
47% 47% I 47%
32% 83%! 32%
32% 33 ! 82%
1 1 1% I 1
33%
84
1S
95%
29%
87%
124
40
84%
1%
1
%
4- 2%
? %
4- %
4- 1%
4- %
4- 1%
4- %
25
16%
76%
%
56% I
8i%;
47
54
81
45%
2
16%] ..
77 *4
45 ..
47% 4- 1
33%! 4
33 14
II..
7 !
56 . 4
81%'4
47 14- 1%
1%
2001 Reynolds T pf. |lll% 111% 111 % 111%, 4- %
36
20%
32%
1%
11%
1%
2%
8%
69%
10%
7%
44% 45%
4% 4%'
21% 21%
3% 3%
8% 8%
12% 13%
75 75%
18% 14
, 9 9%
86% 46% 47% 74c
18%! 32%] 33
34% 43 I 43%'
65 t 7I \ 74 !
43 ] 4*%' 50
91%; 78% 90V .11 1
25%' 17%I 24%: 25 !
57%I 45% 56 I 56%!
184 '169 177% 179%'
115% 113% 114%ilt4%
SOOjRobert Relsfl
16700 Royal Put NT!
lOOiRutland RR pf
4001 St .Tos Ijead...!
2200'St Lo & S F..I
300 8t I/)*8F pf!
3500 St Ix>uls Swn.'
18%
63%
33%
14%
30%
61%
1500
1700
300
900
1000
9t Louis Sw pf
San Cec Sug.,.
Sav Arms....
Saxon Motor..
Seab Air Lilne.
900lSeab Air Tj pf..
18%
62%;
33% I
14%
29%
51% 1
30% I
45
4%
21%
3%'
8%
13
74
13%
9
46%
81%
42%,
71%' 71%
48%! 49%
90% 91%
24% 25
55% I 56%
177 '180
18
61%!
38%
14%
29%
51%!
31%' 30%|
45%] 44%
4%! 4%
63% 4
33%
14%
30
61%
109
100%
-12%
59%
122
91% !l07%ll0S' I
91 1100 !l02
24%
35?
79%
109% 100
8%
6%
89%
5
12%
48%
8%
26
3%
9%
42
46% 38%
30% "
85%
14
71%
30%
<?4%
ir.%
1K%
23
24%
14
57%
1"
27
41
21%
8%
8%
12%
74
18%
9
46%
30%
42%
71%
48%
89%
24%
. M%
177
114%ill4%!ll4%
109 !103
1%,
3%'
' 8%
' 13%
' 75%
1 13%
9
47%
1 S3
44
41%
55% 55%
120% 121
108 109%
6% C%
6% ?
85% 36
3% 8%
11% 11%
46% 47
42% <??% f2\4
28% 2S%] l!
31% 34% I
21 21%! ..
f 9 09% 6[
30 '31 ; ..I
43%; 44 ; ..
7%1 11%! it%i ..!
82% <0%l 42 1 21
50%; 82%! 49%' 80 J 3]
21% 17% 20% 31 ..
140% '125 139 139%. 101
75 ! 71% 75%' 75%I 4'
105 ! 103 H04%|l0f%' 7
35 ! 25 1 33% 34%' ..
46%' 41%! 45% 45% 3%
148 1119% f 1.43 114 I 8'
19% 7%! 16% 17%! ..
36% 20% 31% 32%' ..
56% I 43%' 49% ' -I p1 ..|
2400 Sears Roebuck
100 Seneca Copper
lOOPShatturlc Ariz.
800 Shell Tr & Tr.
92700'Slnclalr Cons.
1000'Sloss-fl S A Ir.
600 Sloss-S ?AI pf
400 No P R Sug...
11700'So Pacific ....
5400'So Railway ..
1500 So Railway pf
3100'Stand Oil N J.
800'St Oil N .T pf..,___
10800 St Oil of Cal.. 108
400 Stern Bros pf.l 99% 100
2600!stew War Spd 42% 42%
4100'Stromberg Car 63 56%
73800jStudebaIter ...117 121%
lOOlStudebaker pf. 109 109
2200'Submar Boat. 6% 6%
70o'Superior Oil .. 5% 6
500'Ruperior Steel. 86 36%
500 Sweets Co Am. 3% 3%
1700]Tenn Cop & C. 11% 11%
16100!Texas Co 45% 47%
3000iTex Gulf Sulp. 42% 42%
330C'Tex Pac CAO 28% 28%
2300jTcx & Pacific.. 33% 34%
200 Third Ave .... 21 % 21%
2900'Tob Products.. 68% 69%
1200 T.SLAW cfs b! 29 t 80%
120n|T.SLA;W pr cB- 43% 44
16700 Trans'on OiL.i 11% 12
100 Tr A Wms St.! 42 ' 42
2001 Twin City R T 49 1 49
7900jtTnlon Oil 20 21
4100 ITnion Pacific..! 138% ! 139%
M0Union P?c pf.. 74% 75
300!lJn T Cnr pf. .'l0i% 104%
1300[United All St.! 88% 34%
100lUn Drue 1st pf' 45%' 46%
1200'rnlted Fnllt.. 141 144
ISOOlUn Ry Invent.! 16%| 17
500llTn Ry Tnv pf 1 31 ! 32%
6700!Pn T:etall St..' 48%I 49%
30% 4
44% 4
4% ]
21%
3%
8%
18%
75
13%
9
47%
33
43
71 % I?
49% 4
%
%
1%
%
%
4- i%
? %
4-"%
4- %
%
90%
%
2%
%
%
1%
%
%
%
99%
41%
53
117
109
5%
5%
35%
3%
11%
45%
41%
28%
33%
21
68
29
42%
11%
42
49
20
138%
74%
104%
33
46%
141
16%
31
48%
56 , .
177%
114%! 4
107%| 4
100 +
41% ?
55% 4- 2%
120% 4- 8%
109 ! ..
6% 4
6%
36
3%
11%
47
42
38%
34%
21
69%
80
48%
11%
42
49
20%
189%
75
104%
34%
45%
144
16%
*2%
49%
%
4%
1
%
%
%
1
%
%
1
%
1%
1%
1
%
%
4- 1
? <
4
? 1
4- ?
4- i,
f'nnflnned on Following
r TOUCS 07 WAIL 8TBEBT.
Steal lnt? In tks Lm4.
United State* Steal common stock,
one* known mm tho leader of th* mar
ket. assumed Its old place at the fore
front of yesterday's advance. In vary
heavy trading-, which aggravated only
209 short of 100,000 shares. It advanced
more than 2 points to a new high mark
for this year of 99 %. Many trailers
expected tho stock to cross par before
tho close, and those on the floor not
too busy to give thought to the mat
ter took up positions near the Steel
post to Join In a demonstration that they
expected to tako place when Steel hit
par. But as was the case before, their
expectations failed to materialize and
individual operators' efforts to put the
stock to 100 were Ineffectual. The in
terests which were really behind yes
j terday*a move In Steel common had no
intention of putting It to 100 and did
not intend to let some one else do It
and take their market away from them.
For that reason Just before the close
tho profit taking sales in Steel were
allowed to depress the market frac
tionally to a closing mark of 99?&. safe
ly below par and yet sufficiently higher
on the day to make the results of the
day's operations in the stock satisfac
tory.
TTattonal Lead.
The National Lead Company's shares,
which have been pretty quiet until re
cently, sprang Into prominence yester
day when heavy demand sent them sky
rocketing more than S points to a high
mark of 94%. A report current In the
Street to account for the move was that
tho United States Metallic Cartridge
Company, a National Lead subsidiary,
was planning to make a big distribu
tion from surplus. It Is believed that
the cartridge company may have re
ceived payment on big outstanding con
tracts which it had during the war and
consequently has been placed in a. po
sition to make such a distribution. It
could not be learned whether or not
the contemplated payment would be in
cash or stock.
Katy'* Oeed Earning*.
Improved earning* are assigned a* the
cause of the recent advance In securities
of the new Missouri, Kansas and Texas
Railway. Delay In issuing the new se
curities has been duo only to cleaning
up of details of foreclosure that the re
organized company might take title to
the properties. In the first two months
of 1922 the road reported gross operating
revenues of $7,'589,737, a 20 per cent, de
cline from those of tho corresponding
period of 1921. It was able, however, to
save net operating income of $1,111,869,
which was an Increase of 25.5 per cent,
compared with the net operating Income
of the first two months of 1921. It Is
calculated that the road's 1921 earnings
would have<been sufficient to cover the
new company's interest charges and the
7 per cent, dividend on its preferred
stock with a very small margin for Its
no par stock.
Money Continue* Easy.
The tendency toward lower levels for
money rates was more apparent yester
day, although the rate for call loan* In
the New York Stock Exchange did not
drop below percent., the opening and
the renewal rates. Oatslde of tho Ex
change call loans were arranged at 314
per cent. Trading in time money was
on a iY*. per cent, basis for all ma
turities. Transactions in commercial
paper were larger at the 4 V< per cent,
rate. The Government will withdraw
$5,800,000 from banks In this reserve
district to-day.
5fexle*n Debt.
Wall Street hears that the Mexican
Government has enough cash on hand to
pay 25 per cent, of back interest on its
external debt. That percentage would
amount to about $70,000,000. It is stated
in well Informed quarters that prospects
of a successful settlement of Mexico's
financial difficulties in the coming confer
ence between her Minister of Finance
and American and European delegates
are very bright
Strantrni Appearing on the Tip*.
Almost every day. as a steadily ris
ing market progresses through its va
rious Btagcs, abbreviations for stocks
which make their appearance so seldom
that the talent among tap? readers can
not even tell their names appear on
the tape. This has been the case In
the present market and the index of
abbreviations la being more and more
used as the market progresses. Yes
terday. for instance, there were two
rales of a stock listed as ICR. one a.t
110 and the second at 111. Scarcely
any on? in the financial community
could tell offhand what stock the
abbreviation represented. Investigation
rervealed that It wm Island Creek Coal
and that its last preceding sale was on
May 14, 1921, when its closing sale was
<W4. On that basts, therefore. Island
Creek's closing yesterday represented
a net gain of more than BO points from
its last previous transaction.
Maxwell Motors.
A motor company which has staged
sn extraordinary comeback from its
! law level of operations in the last few
months Is the Maxwell Motor Company.
According to Information obtained yes
i terdsy from interests identified with
' its management, that compauy was
I operating almost nt capacity. Tt ex
i pects that its April production will be
around 6.800 cars although its produc
tion schedule for next month calls for
7,000. Tho company's financial position,
as a result of its reorganisation several
months ago, has been improved matsr
latly and It haa more than $2,000,000 of
cash resources, a part of which it is
Investing In short term securities.
OUlette Stock** Blse.
The persistent edance of Gillette ?af
I ety Haxor stock to a Wei Chore ?M0 a
share has attracted little attention amid
the gvneral market huiVy "burly, but It
has meant much In the way of profits
and Increased assets for Investors or
1917 and earlier. A block of the shares
was sold at 180 a share whon the com
pany was financed In September, 1917,
and the subscribers at that time have,
at Its current prices, a profit of more
than $1(10 a share, counting In the Iff
per cent stock dividend of last year.
Gillette rank* high amid business phe
nomena, The basis of the present stock's
market value In excess of $<0,000,000
was the 10,000 share block which King
C. Gillette sold at B0 cents a share
when he be*an to develop his Idea. A
force behind the advance this year has
been the $3 cash quarterly dividends,
the two stoek dividend? of 2H per cent,
each and the expectation that, all told.
10 per cent, in stock will be paid in
1922.
Cities Service Shoots TTp.
A tremendous demand for Cities Ser
vice Company's shares developed yes
terday In the curb and at a high mark
of 232 Its common stock showed a net
gain on the day of 16 points. No news
developments came to light to account
for the move, but reports of a com
plete reorganization of the Doherty
properties were heard in explsnatlon or
the advance. At the close the common
stock Tfas quoted at 329'i bid, with
nothing offered under 236 The pre
ferred and bankers' shares moved tip
In sympathy, the former advsnclng from
a low of 63 to a high of 66 and the
hankers" shares getting up from 23%
te 1$.
Godchaux Sugars
INC.
1st (Closed) Mtge.
7H% Gold Bonds
Due Dec. 1,194!
Secured by direct first
mortgage on all the prop
erty of the Company,
having replacement value,
after depreciation, of
more than 300% of ?&e
bond issue. ? '
The Company is the larg
est producer of sugar cane
in tne continental United
States.
Prire and fmOw*4et*its ^
or% nfrtfvf.
A. B. Leach &Co.? Inc.
Investment Securities
62 Cedar Street, New York
ChleMO Boston ClwralraA Setmlt
Philadelphia Mlrmeapoll*
Accounts
Carried on
Conservative
Margin
New York Stoelc Exchaafe
Chicago Stock Exchange
Chicago Board of Trade
T0BEY& K3RK
Established 1873
SB RronA St. SM So. 1* Salle St.
New Tork Chicago
Consolidated Cities
Light, Power &
Traction Co.
i ?
First Lien 5% Gold Bonds -
To yield over 7%
at present market price
A direct obligation of the com
pany and guaranted at to prin
cipal and interest by Cities 8ervit%
Company.
Interest requirements earned over'
2 times in 19tl.
Write for Circular CC-1 ?
Henry L Doherty & Co.
Bond Department
SO Wall Street New York
Chi. Mil. & St Paul Ry. Go.
H e recommend the sale of '2
Gen'l Mtg. Wit, 1989.
and the purchase of
Gen'l Mtg. ZVn, 1989
This is No. 4 of the strtts
of exchanges we art recom
mending. Our Consulting
Service tan also suggest
prof itable exchanges for you.
Letter on request.
PaulPlunkett&Co.
, financial Counsel
"National City Building
17.East.42 Street/
CENTRAL A8NIRRE
SUGAR CO.
Capital Stock
Yielding 8.45%
1 Established earning power
2 Long dividend record ~
3 Capable management
4 Low cost of production
Descriptive Circular
141 on request
FARR&CO.
M?mb?r? N?w Tork Block Rsdttng*
133 Front St. (Cor. Pin*)
T.ltphon* John 6438.
Bonds br Invastment
Harris, Forbes & C?
Mr* Stmt, Cemar Wllttaas
NEW YORK