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The New York herald. [volume] (New York, N.Y.) 1920-1924, April 26, 1922, Image 9

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1922-04-26/ed-1/seq-9/

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>!>eyer Syndicate (rets All
of 4 1-i PerCent. 50 Year
Stock at 102.766.
ItEMIUM IS $1,244,700;
Buhsmbetl Seven Times |
K)ver. Showing JffifW York's
High Credit.
>aiff. Jubilant, Says Price Is
Three Points Above That of
Government 4 l-4s.
Thirty-nine sealed bids were sub
Inittcd yestordiiy at the public sale of
p4j.000.000 of 4% per cent, fifty year
i;old corporate stock of the city of
fVew Yprk in the oflice of Comptroller
'raig, the total of the bids being!
1357.810, jOO, averse ribing the iBsue
bout seven times.
A syndicate headed by Speyer & Co.!
put in the highest bid and received
Iho (aHn inir The hid was 102.76G,
?rhlcb gave the city the highest pre-1
?nitim it had ever received for stock!
? 'earing a 4',i per cent, interest rate.
In-.e premium is $1,244,700. The net
J'ate by the city will be below
|?Vs per cent.
1 The Speyer bid was 011 a 4.11 per
bent, basis. The bankers will offer the
bonds for public subscription to-day at
104 .and interett, to yield the investor
Better than 4.06 per cent. The last pre
v ious ,?ale of New York city corporate
? tock, in December, 1921, was of1
Joj.000,000, with an interest rate of j
4 1j per cent., and was awarded to J.
P. Morgan & Co. at 103.407. or on a
4.33 per cent. t?asi^. That stock was!
put on the market at 104.75.
tliikeiip of U'luniiiK Syndicate. |
The syndicate headed by Speyer &J
Co. was composed of the Bank of the '
Manhattan Company, Ladenburg. Tlial
mann & Co.. Bank of America, Domi
nick & Dominick, Title Guarantee and
Trust Company. J. S. Bache & Co. and
others. Tiie second highest bid was
101.232, made by a syndicate composed
of Blair & Co., Hallgarten & Co., New
Turk Trust Company. William R. Comp
ton & Co. and Central Union Trust Com
pany. The third "all or none" bid was
?nade at 101.287 by a syndicate headed
by J. P. Morgan & Co. The only other
bid of this character was at 100.12 7,
made by Dillon, Read & Co., Kuhn, Loeb
& Co. and Kidder, Peabody * Co.
Comptroller Craig said the result
"showed that the credit of the city was
as good as it could possibly be in spite
<>f the Meyer commtttee." He declared
the price secured was about three points
above that at which United States 4 54s
are selling.
The high price caused some astonish
*re selling.
Speyer Seen Price Go 1 p.
.lamea Speyer was confident that the
price of the stock a few months hence
would be much higher than his syndi
cate paid for it.
iJond experts pointed out that it an
Investor buys thm slock at a price to
)!eld 4 per cent., or 10.'..3!?, whl'lt price,
is, of course, higher than It is being i
j"-tuall.v sold at, in view of the fact
rljat the stock is free from all Federal
tu'.otne t; its (including surtaxes) the
tit: yield to the investor Is equivalent to
!? ? following i-'.-turriu on taxable securi
ty s:
Incomer. Yearly Returns.
*1,800 to $10 0V> 4.10%
IIUXKI to 20.(fit) 4.C,:>'o
2S.0OO to 30,000 .->.(**? I
40.000 to 42.0110 A.40%
.vywo to 52.000
ko.oho to ?2,ono. M.23%
70.000 to 72,ooo tf.78%
*<i,ooo to sv.otio ; 7.40%
90,000 to !?2.000 S ir."! !
kni.ooo io l.v?,onn i*. 10%
More than $900,000
1.1*1 of Smaller Bids.
I In addition, readouts of New York
Stale make a further yearly saving on
account of the State Income tax.
Additional bids received by the city
for Its stock were:
Karsoti. Son < Co. -41,000,000 average ma
turity 102.<W to too.77.
Kobln<on A Co.?All or any part of $2.O00.
IHHI. as follow m : $400,000 at 101.01. $400,000,
100.7C. $?oo,ooo, 100.31; $400,000. 100.20:
$400,000, 100.01.
Kountr.e Bros?#3.000.000 In 1 he fol low inK
amountm: S7.Vi.ooo nt 100.04; *7.'.0.000, 100.23; ,
#7M.OO$, 100.40: $730,000. 100.1)7: $800,000, I
100. ss; $300,000, lei .on; $.r?o,ooo, ioi.ao:
$:,oo,ooo, ioi.nt.
Henry Oltws A Co.?*1.000.000 at 101.70.
Syndicate Corn Kxcliange Bank and 1/ch- I
ninu Bros.?$10,000,000 at 100.a:i
Charles IS. yuliicy A Co.?41 ."00.000 as fol
low M: $230,000 nt 102.02; $230,000, 101.14: I
$230,000. 102.20: $230,000. 102.27.
KoaltaUle Trust Co.?$23o.OOO at 102'i.
Manufacturers Trust Co., Brooklyn?$1,000,- j
<?*? at 100.30.
Ilitrr * 8clmultz*t'-$10,000,000 as follows: I
*300.000 at 102.."*7: $300,000. 102.397; $.'>oo,H0O,
102,367; $600,000, 102.137: $300,000. 102.017:
*300.000, 102.017; $1,000,000. 101,807: $1.000.?
ooo. 101.707; $1 ,800,0O0, 101.:iT7; $1,906,000,
Wmplre Trust?All or any part of $2,500,000 j
at 101. to.
Mechanics Bank of Brooklyn?$1,000,WO at
.\Hti?ual Park Bank?$*00,080 at Hit.IS
Kings Cu*nty Trust Co.?$300,000 nt
CIWfUMat National Bank-$2.0?0,000 at
Merrill, Uracil * Co.^$1,000,000 at 100.25.
Mlll'tt. ROf A Ha?en?$300,000 as follow*
In lots of $.10,000 ?acli at 1MJ9, 101.413,
101 73. 101.S3, 101.$3, 102.03. 102.1H. J02.2.I.
H&M. 102.43.
i lark. Williams A Co., $1,000,000 a* fol
lows $2.->O.UOO at 101.25m. $i*.o,000, 101.103;
S2Ti0,0Qn, MH.703: $2Trft.OOO, inc.033
Slierivoud A MerryfleW?$1 .OOO.OOtl as fol
I iMivs: $230,000 St 100 M; $r.O.(M)0. 100 80;
*2."0,ll00. 101.0"i; $230,000, 101.23.
KFtates Hettlenwnt Coonmay?$10,000 at
KM for SI?^00>M0.
Corn fiIscbanae Bank a ad I.oiiman Bros ?
$|o,miulM0 st 1410.0$.
llty lnt?niatkw?a1 Trust Company?
$2.">O,?*l0 at 102.
I'lrst National Bank of Brooklyn?$230,000
at 10S.1V3. v
fohn J Watson. Ji -$IOO,(Km at lol.
stitndsril Bank?$^00.flOO ar follows: $."i0.000 |
| o| - $-.0000, 10O.ST3; a-4>,OOIi, 101.I23; 1
>30.000,' 101,23; f*0,0?SI. IOI ,8f3; $VI.OOO.
IOI'iO' ?.'?<>.000. 101112.1: $30,000, IOI.73; 1
SW'OOO. 1ol >7'>; r?.'s?o. 102.
It' II. Mary?$30O,?*in ut HK.087.
T. M. Iv-v??$100,000 at 100.
'lYadw I'lilillahlpr Coiu|>aiiy-$10,000 at 100.
Kings County Trust Company of Brooklyn?
$Ma>,OOA at 101,1*71.
First National Bank of Jamali-a-4300,000
at 100.73.
w. W. Button ?? CO?$100,000 at 102.1$.
Ix?uehhel?n, Mlnton A Co.?$100,000 at
10t .50.
orvls Bros. * Co -$2r.,0o0 at 100.
It H Kosel?$00,000 as follows: $20,000
at 100.00; *M,0OO, 100.12; $10, DUO. 100.21;
ft'iooo, 100.26.
l ellx KouWI-4300 at 100.
The proceeds of yesterday's sale will
be used to take tip sl?ort term noter
Issued durlnR the war and. with the
bonds sold in I*?coinh?r, w?H retire aH
the corporate ntock notes isswd by the
rtty since 1?17. This last Mm of bond?i
will not decrea??' the city's borrowing
capacity, as ??.$$0,008 l? for dock Im
provementH and 120,000.000 for the t'sts
klll water supply, self-sustaining lm
Testifies Broker Said Steins
Were Trying to Frame Him.
Mrs. Madeleine Kane testified before
Judge VV. W. Cutler In Hackensack
yesterday in favor of her husband, Ed
gar H. Kane, a broker of 20 Broad
street and president of the Lyndhurot.
N. J., Uonvd of Education. He is being
sued by John N. Mtein for $50,000 dam
aged on charges that he alienated the
affections of Mrs. Stein, who has been
on the witness stand and testified con
cerning her alleged intimacies with
Mrs. Kane declared that she did not
believe her husband guilty of the charge
made by the Htelns. She said thai she
and her husband had helped Mrs. Stein,
had lent her money and bought her
elothen. and now she ha?i betrayed them.
"If site thinks she can put anything
over on my husband she is mistaken,"
said Mrs. Kane. "I knew of the ef
forts Mrs. Stein was making to borrow
$300, and I knew my husband was go
ing to meet her at the Cliff House hi
Lyndhurst on the night Mr. Stein found I
them there. My husband remarked to j
m? afterward that he believed the j
Steins were trying to frame him up."
Katie was also on the stand yester
day. lie denied having had l.uproper
relations with Mrs. Stein. He said he
nad once given Mrs. Stein $20 when
Bhc pleaded poverty because she was a
friend of Mrs. Kane's. The trial wlL'
continue to-day.
Leather Workers' Employers {
Win Partial Court Victory, i
The A. L. Heed Company of Richmond !
Hill gained a partial victory before Jus- j
ttce Callaerhan in the Supreme Court in ;
Long Island City yesterday in its effort '
to prevent members of the Fancy i
Leather Workers' Union from picketing;
its plant.
"The right of picketing by members !
of a union has been established by the i
courts," said .Tustlee Callaghan. "I find j
here there were indications of an un- '
lawful conspiracy to interfere with the ;
operation of the company's plant. I j
will continue the injunction to restrain j
picketing within the Immediate neigh- j
borbopd of the factory, and I will.further j
order that the pickets are not to ap- ;
proach workmen either in their homes I
or on the street or elsewhere if the j
workmen are unwilling to be so up- ,
preached. There is to be no accosting j
against the will of the employee."
Justice Callaghan stated that Indl- !
vidual contracts obligating the em
ployees to refrain from belonging to a
union did not alter the situation.
Epithets Aimed at Prender
gast at Town Hall Rally.
A resolution setting forth unanimous
opposition to any action on the part of
the Public Service Commission in au
thorizing any altering of the standard
of gas used in the city without a corre
sponding decrease In price was adopted
at. a meeting held last night at Town '
Hall under the. auspices of the com
munity councils.
Corporation Counsel O'Brien severely]
arraigned the Public Service Commis
sion for alleged failure to take action I
on the appeals tor lower gas rates, and ]
Capt. Harry A. Ely. chairman of Audit- ,
bon Council, attacked Chairman Pren
dergast of the Public Service Commls- \
sion. characterizing him as a "ribbon !
clerk and counter jumper and unfit to i
decide in the trials for a change in the
gas standard whether a man was an
expert or a monkey."
Alio To-morrow, Friday and
at the Oallerle* of
Choice Home Appointments
Antique and Modern
Baby Grand Piano,
Solid Silver, Andirons,
03 Paintings, &c.
On View I'ntll Hour of Nale.
Wallace H. Day, Auctioneer
p' 8-3 SEVENTH AV.. AT R3D ST.
C. E. SMITH, Auctioneer.
18" estate bale.
This Wednesday, 2 o'Clock
And Afternoon following; Hamo Hour
An Immense Quantity of Pine and Medium
Furniture, Furnishing*. Imported nnd Do
mestic Rugs, Llnooe, Bedroom nrnl DininK
Room Sultea, Mirrors. Trunks, Victor Vlr.
troln. Odd Chairs. Paintings. llook<'*?*j.v
To Close the Estate of the Late Marie
Claussen and other Interests.
By order ot Messrs. Rabe tr Keller, Attorneys
for Executor, 2."# Jlroadway.
I>e.ilets Attend. Immediate Delivery.
BENJ. S. WISE, Auctr.
tty Order of
His Collection oi
Art Treasures and
Magnificent Furnishings
Together With Furniahing* Removed
from the Country Home of
126-132 West 46th Si.
TO-DAY (Wed.), 2P.M.
No Limit! No Rtsorve! Cash Dopooit*
Will sell
Tomorrow (Tfcursday)
AT 10:30 A. M.
The Content* of the
Palatial Residence of
35 Wot 72nd Street
Elegant Modern !? urnHure, China nndOlass
from DavU Collamnre * Co., Tape?trt?w.
Hcr?ens, oriental Rum, Marble (Mutu
ary. Hrle-a-Rroc. OH Taint In*.*, Rook*.
Floe Linens. Redding, Stair end Hail Car
pels. Vnruum "'leaner. Jewel end How??
Safes. Porch Clialm. l.srpe ttolm H.vphnn
Refrigerator, Aauarluni, Klei-trie Fan*,
Kit(!iien and Laundry tTtenolls, <?<*.
Cndllla'- T Passenger Limousine
r'ar, 1?2<1 Model.
SOTK.?Urs. Rh*t*b> rp hn? .told
thi? Hral hiatal a and intend* tu make
In i- permanent rnMHenrr in Fi'roftr,
which accounts for this absolute ttn
reitrirtcd *al*.
The Boston Globe First in The
Boston Field During Three
Months Ending March 31, 1922
In Total Lines of Advertising
In Department Store Advertising
In Want and Classified Advertising
In Real Estate Advertising
In Automobile and Accessory Advertising
During the year 1921 the Globe led all of
and the first three months of this year tell the
The (total lines of advertising in the
?Boston newspapers (having Daily and
Sunday editions) during the three months
ending March 31, 1922, was as follows:
Second Paper
Third Paper
Fourth Paper
2,929,950 lines
2,706,032 lines
2,546,266 lines
1,792,420 lines
its contemporaries in the above classifications,
same story.
The total lines of department store
advertising printed during the three months
ending March 31, 1922, in the Boston
newspapers (having Daily and Sunday
editions) was:
Second Paper
Third Paper
Fourth Paper
861,187 lines
. 692,054 lines
. 462,063 lines
. 433,122 lines
*The total number of Want and
Classified advts printed during the
three months was
Second Paper
Third Paper
fourth Paper
119,080 advts
. 17,617 advts
15,269 advts
14,060 advts
*The total number of Real Estate
advts printed during the three
months was
GLOBE. . 17,536advts
Second Paper 3,572 advts
Third Paper . . 1,348 advts
Fourth Paper . . 1,141 advts
* In newspapers having Daily and Sunday editions.
"The total number of lines of
Automobile and Accessory adver
tising printed during the same
three months was
Second Paper
Third Paper .
Fourth Paper
353,316 lines
209,761 lines
178,959 lines
90,708 lines
The Leading Newspaper Men of the
United States Are in New York This Week
ADVERTISERS, Ask Them What It Means
when a newspaper in a given territory is first in total lines of advertising, first in total lines
of department store advertising, first in total number of want and classified advts, first in
the number of real estate advts and first in total lines of automobile and accessory adver
? ?
For over 30 years the Boston Globe has been the leader in the total lines of adv ertising,
printed in any given year, in the Boston field.
i * . f
Boston Globe Circulation Story
Sworn Government Figure*?Circulation of the Boston Daily and Sunday Globe during the 6-months
periods ending April first for the years given:
For the 6 months ending Daily
April 1, 1914 156,711
April 1, 1915 226,823
April 1, 1916 243,459
April 1, 1917 256329
April 1,1918 277,151
April 1, 1919 293,781
November, during 1918, the
Evening Globe
went to 2c per copy.
April 1, 1920 286,886
April 1, 1921 295,618
October, 1920, the Sunday
increased to l()c per
price was
April 1, 1922 284,724 322,907
Net Paid Circulation For the Month of March:
Daily Globe Sunday Globe
285,213 932,536
Where do most Massachusetts people live?
Where do most Massachusetts people work?
Where do most Massachusetts people own property?
In the thriving, compact, prosperous
"30-Mile Trading District"
Which Clusters About the City
PROOF: This district lias
$3,600,000,000 real and personal assessed valuation (or 70 percent
of the total resources of the State1.
2,531,000 inhabitants hy the last census lor 66 percent of
the total population of the State).
566,500 families (or 63 percent of all the families in the
That Is the District for Advertisers to Cover
and it is covered by the BoBton Globe, the paper that goes on the
basis of one to every 2.3 families in the district daily, and one
to every 2.4 families on Sunday.
The newspaper that covers this all-important business district
of New England is the
Daring the year 1*>21 the Cilobc printed ijfotal of 11,870,S88 lines of advertising,
the greatest volume of any newspaper in Boston, and thi* in spite of the fact its adver
tising column! arc so strictly edited that thousands of dollars' worth of advertising is

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