OCR Interpretation


The New York herald. [volume] (New York, N.Y.) 1920-1924, April 28, 1922, Image 18

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1922-04-28/ed-1/seq-18/

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Representative issues of each
of the types of bonds below are
among our current offerings.
Public Utility
(underlying bonds)
Railroad
(first mortgage bonds)
Foreign Gov't
(dollar bonds)
Industrial
(bonds and notes)
Maturities from 1924 to 2397
Yields from 5.15% to over 9.00%
This list mill be forwarded at
your request.
Sutro 6? Kimble*
Mtmktri Hew York Sleet Exi Jtangl
Sixtysix Broadway
New York
We Specialize in
Western Power
Colorado Power
Appalachian Power
Mississippi
River Power
Adirondack
Power & Light
Commonwealth
Power, Ry. & Lt.
PYNCHON & CO.
Members New York Slock Exchange
111 Broadway New York
Telephone Rector 970
LONDON LIVERPOOL PARIS
PRIVATE WIRES
to principal cities of United
States and Canada
CUSTOM HOL'SK RECEIPTS.
Receipts for duties at the Custom Hoose
yesterday were $851.336.4d, of wthen ?Irt2.
was for merchandise withdrawn from
bonded warehouses and $888,7."?1.70 for re
cent Importations.
SINCLAIR OIL SHOWS!
$6,886,778 DEFICIT
Policy of Reinvesting Earn
ings in Business May Be I
Changed, Says Chairman.
The Sinclair Consolidated Oil Corpora
tion's report for 1921 shows a deficit of
16,886,778 after depreciation, depletion
ami amortization charges, interest and
Federal taxe -(gainst a surplus of $18.
558,5-80, or at.jr payment of preferred
stock dividends $4.74 a share earned on
the common stock in 1920. The deficit
was increased to $7,695,846 after pay
ment of deferred and common dividends,
as contrasted with a surplus of $17,795,
106 in the preceding year.
1921. 1H20.
Gross earnings $122,529,188 $100,048,931
Expenses, mainte
nance, taxes, 4c... 111,743,875 131,008,510
Net earnings 10,785,"13 30,580,415
Balance after taxes
ami Interest 5,151,567 30,388,217
Deficit after deple
tion, depreciation,&c 6,886,778 *18.558,580
?Surplus.
The consolidated balance sheet shows
cash was reduced from $12,823,280 to
$6,232,640, but accounts and notes re
ceivable, which include accounts receiv
able resulting from sale of one-half in
terest in the Sinclair Pipe Line, were in
creased to $28,738,362 from $18,626,533.
Inventories were marked down from
$47,099,157 to $22,244,868. The com
pany's holdings of marketable securities
increased $7,522,491. Notes payable
were reduced from $14.352.316 to $11.
075,000 and accounts payable l'rom $7,
01.1.683 to $5,801,455.
H. P. Sinclair, chairman, said: "Last
year's depression was utilized to prepare
for this year's anticipated recovery. The
tide turned several months ago; the
movement is now quickening and there
Is reason to believe that business will
be spirited before the end of 1922.
"The action of the sharehloders at th?
special meeting on April 19, 1922, pro
vided a comprehensive means of financ
ing the normal development of the com
pany's activities. Heretofore, the policy
of the management has been to reinvest
all earnings in the business to lessen re
quirements for additional capital. The
time appears to be rapidly approaching
when a modification of this policy may
be arranged."
>
Average Bond Prices
i ^
April 87, 1033.
Thnrs- Net Week. Year.
da.T. ('lute. Ago. Acn.
10 Hail* 84.87 ?.33 74.08 71.81
10 Industrial.. 07.00 ?.45 1)8.10 88.74
5 Pnh. Ctll.... 85.63 +.30 84.00
5 Foreign .104.5* ?.40 105.35 98.70
30 Bonds 93.63 ?.13 93.07 70.08
BOND NEWS AND NOTES.
North Carolina Award*.
The State of North Carolina awarded
yesterday $6,000,000 of Its 4 % per cent,
highway bonds to a syndicate headed
by the First National Bank for 100.10.
They are part of an authorized issue of
$15,000,000 and the successful bidder has
a sixty day option to purchase the re
maining $0,000,000 at the same price.
The bonds wore awarded on the basin of
J200.000 a year from July 1, 1932, to
July 1, 19<il, Inclusive. The balance of
$$.000,000 will be awarded on the basis
of $300,000 of every one of the maturi
ties. The syndicate is headed by the
First National l.iank and includes also
the Bankers Trust Company of New
York, Kissel, Kinnlcut & Co., B. J. Van
Ingen & Co., ? Eldredge & Co., Kedmond
& Co. and K." H. Hollins & Sons. The
bonds will be offered for public subscrip
tion early next week.
Offer California Bond*.
The First National Bank and Kissel,
Kinnlcut & Co. are offering an issue of
$1,750,000 of the Slate of California's 5
per cent, highway gold bonds, due
serially on July 3, 1943. to July 3. 1949,
Inclusive, at prices to yield 4.20 per cent.
They are legal investments for savings
banks and trustees in New York, Massa
chusetts, Connecticut and other Eastern
States.
liOa Anxrln Flotation.
Harris, Forbes & Co. are offerirg
$500,000 of the city of Los Angeles mu
nicipal 5 per cent, bonds, due serially
In 1934 to 1959, inclusive, at a price to
yield 4.35 per cent. They are legal In
vestments for savings banks and trust
funds in New York, Massachusetts and
Connecticut, eligible to obtain postal sav
ings deposits and are direct general ob
ligations of the city.
Cadet Knitting; Offering
Farson. Son & Co. are offering a new
issue of $500,000 of the Cadet Knitting
Company's ten year 7 per cent, sinking
fund gold bonds, dated April 1, 1922,
and due on April 1, 1932, at 96% and
interest to yield about 7 per cent.
New Rail Project.
The Chesapeake and Ohio Railway
has applied to the Interstate Commerce
Commission for authority to Issue $7,
635,000 of its 5Vj per cent, fifteen year
equipment trust certificates.
All Bonds Sold.
Kissel. Kinnlcutt & Co. and the Cen
tral Trust Company of Illinofs announce
that the new Issue of $4.00(1,000 of the
Rogers Brown Iron Company's 7 per
cent, bonds offered by them yesterday
morning has been sold.
The $2,000,000 balance of the author
ized issue of $5,000,000 of the Producers
and Refiners Corporation's S 'per cent,
bonds, offered by a syndicate headed by
Blair & Co., Inc., was oversubscribed
heavily within an hour after the opening
of Its books.
Hornblowcr & Weeks announce that
the $1,049,100 Issue of the Chicago and
Alton Railroad's equipment trust 6 per
cent, gold notes offered by them have
been sold and Its books closed.
The $600,000 of the Chicago, Indian
apolis and Louisville Railway's 6 per
cent, equipment trust notes offered by
Freeman & Co. have been sold.
The Chase Securities Corporation.
Cassatt & Co. and Ifambleton & Co. an
nounce that the books for the Issue of
$1,500,000 of tlie T. H. Symington Com
pany's fifteen year 7 per cent, bonds
have been closed, the Issue having been
heavily oversubscribed.
? $45,000,000
CITY OF NEW YORK
4lA% Gold Corporate Stock, Due April 15, 1972
Consisting of
$25,000,000 Bonds for Dock Improvements $20,000,000 Bonds for Supply of Water
Interest payable April 15 and October 15?Principal and interest payable in Gold
EXEMPT FROM ALL FEDERAL INCOME TAXES
EXEMPT FROM NEW YORK STATE INCOME TAX
EXEMPT FROMTAXATION AS PERSONAL PROPERTY INTHESTATE OF NEW YORK
LEGAL INVESTMENT UNDER NEW YORK STATE LAW FOR EXECUTORS,
ADMINISTRATORS, GUARDIANS AND OTHERS HOLDING TRUST FUNDS
Hon. Charles L. Craig, Comptroller of the City of New York, makes
the following statement, dated April 27, 1922:
"The bids received for the $45,000,000 of Fifty Year Corporate Stock of the City of New
York totaled $357,000,000, representing about eight times the amount of Bonds offered. This
total is greater than ever before received at a New York City Bond ?ale.
The price at which these Bonds were sold indicates not only that the City's Bonds are
returning to a pre-war level, but also that we may look forward to the time when we will again
sell Bonds at rates ranging toward 3'/2 per cent. ?
TTie proceeds of this issue will be used to take up short term Notes issued by the Comptroller
during the war and, together with the Bonds sold in December last, will retire all of the Corporate
Stock Notes which have been issued by the City since July, 1917. The $45,000,000 of long
term Corporate Stock sold does not increase the City's debt in any particular. $25,000,000
are issued to pay for dock improvements and $20,000,000 for the Catskili Water Supply.
There will be no further offering of long term Bonds for at least two
years from the present time.
During the past four years the net increase in the City's debt has averaged approximately
$11,000,000 per annum as against an increase in the assessed valuation of real estate, during
this period, of approximately $2,000,000,000, which is more than the entire debt of the City.
The following is a statement of the assessed valuation of real estate subject to taxation
in 1922, and of the debt of the City as of April 1, 1922:
A>wumI valuation of roal estate subject to taxation T10,34ft,00i,S3?
Gross outstanding debt, Including Corporate Stork Notes 31.:wvj.HT,">,ir,n
Lena Stinking Fund holdings ..mo.imi.mhi
Net outstanding debt l.07l.040,?0D
From this amount should he deducted water supply, self-sustaining and
exempted debt, ns follows: .
Kapld Transit f MS.1ft7,fl7tl
l?o?ks 70.000,mm
Water Supply 9JJ.7W.OOO
W3A.USI.H7fl
I.e?s amount of Kinking Funds for above Issues IA.4N.iKl.i 1MM3I.MI
Net debt Including Notes) ?7St.3W,43S
Substantially all the Bonds for Water Supply and all the Bonds for Rapid Transit and
Docks, in the statement above, are self-carrying.
The City of New York owns a vast amount of property, including rapid transit lines, Croton,
Catskili and Long Island water supply and distribution systems, water front and dock improve
ments, public buildings, such as the Municipal Building, public schools, etc. The value of the
property owned by the City of New York, on a basis of comparison with the assessed valuation
of similar privately owned property, is approximately $2,000,000,000 and greatly exceeds the
entire debt of the City.
As of April 1, 1922, the clear margin of the City's debt limit available for any municipal
purposes (after reservations and commitments aggregating $55,332,190) was $137,148,311.
Provision is made by law for retiring all Bonds at maturity through sufficient annual con
tributions to Sinking Funds from revenues and taxes, and payment of Serial Bonds as they
mature from moneys raised by taxation."
WE OFFER THE ABOVE BONDS, SUBJECT TO PRIOR SALE OR ADVANCE IN PRICE,
At 104ro and Interest, to Yield over 4.06%
These Bonds will be issued in coupon form and interchangeable'; denomination of $1,000 for
Coupon Bonds, or in Registered form in any multiple of Sio.
Certificates of the Comptroller of the City of New York will be delivered exchangeable for
definitive bonds, when r*wdy.
Speyer & Co.
Bank of the Manhattan Company Ladenburg, Thalman & Co.
The Bank of America Dominick & Dominick
Title Guarantee and Trust Company J. S. Bache & Co.
BONDS IN STOCK EXCHANGE
Day's sales ..,
Year to date..
THURSDAY, APRIL 27,
1922.
$20,337,000
1,619.013,000
1922.
1921.
$12,809,000
975,489,000
RANGE OP LIBERTY BONDS.
?Closing? SaleB
Bid. Asked-Yield. In $1000. Open. High.
99.42 99.52 3.53 260 3^8 (1932-47) 99.68 99.74
61 3^8 reg 99.52 99.52
99.64 99.90 4.03 . 1 1st CV. 4s 99.44 99.4 4
99.60 99.70 4.02 5 2d 4s (1927-42) 99.62 99.62
99.80 99.88 4.26 122 1st cv, 4"4s (1932-47) 99.86 99.94
1 1st cv. 4J/?s reg 99.44 99.44
99.70 99.72 4.27 1.363 2d cv. 4Kb (1927-42) 99.84 99.84
12 2d cv. 4Vts reg 99.58 99.58
99.92 99.96 4.26 2,974 3d 4',is ( 1928) 99.94 99.98
7 3d 4 >4 s reg 99.86 99.86
100.20 101.00 .. lst-2d 4Vis (1927-42)
99.94 99.96 4.26 2,644 4th 4?4? (1933-38).. 99.96 99.98
16 4th 4??s reg 99.80 99.80
100.64 100.70 3.97 706 Vic. 4?4m (1922-23).. 100.70 100.70
45 Vic. 4%s reg 100.48 100.48
100.02 100.04 3.47 18 Vic. 3%s (1922-23). .100.02 100.02
Net
Low. Last. Chgs
99.42 99.42 ?.22
99.40 99.40 ?.06
99.44 99.44 ?.26
99.62 99.62 ?.04
99.72 99.74 ?.20
99.44 99.44
99.66 99.70 ?.14
99.50 99.50 ?.10
99.92 99.94
99.86 99.86 ?.02
99.90 99.96 ?.04
99.78 99.78 ?.08
100.64 100.64 ?.08
100.48'100.48
100.02 100.02
Arg >ntine 7s 17
1 100%
4 100%
? ioo%
10 10068
7? 100%
1 100%
13 looig
1 1 100%
l looia
3 100%
4 100%
i iooia
3 100%
Argentine Im 46
5 86
Belgium 8s 1941
receipts
26 1077s
1 107%
1 1077ft
J..s6..107%
5 1070g
a i07ai
HelKiura 7Hs 45
2 109U
8 10938
3 109
1 10918
10 109
1 100U
3 ion
Belgium l? 1925
51 104
Bui Tie 8s 1945
1 113
1.b6 .11*%
Bordeaux 8s 34
6 88
3 88U
41 88
i jlO. .87
2.310. .8734
lO 88
1 2 878?
1 87
Canada {? lft25
2 0 09U
4 twia
10 99U
14 991s
6..cah..90%
1 9918
Chile 8s 1624
24 1021a
Chile 8s 1M1
6 1061a
la-.-105
1 105%
i 1061a
4 106%
1 IO6I4
2 106%
Chile 8s 1946
4 105%
(1 100
2 10.518
0 1051a
Chinese H KRy
6s 1061
3 r>4l4
5 6418
2 1 54
1 5378
Chrtstiania
b f 8b 194-1
1 1101'
Copenhagen
S f tKs 1944
1 9278
3 03
20 9234
2 93
Cuba 8s 1014-49
a 90
1. .86. 8684
42 87 |
1 0 87U
30 87 I
1 87U1
5 87 I
2 86V
Brazil 8s 11 Ml
2 107J4
0 1071a
6 10714
6 107
1 10718
1 1 107
. 0 10714
Canada IHs 2*
20 101
61 IOH4
4 lOlig
10 101
Canada Ss 1931
2 9938
1 99lg
1 998s
5 991 g
4 . .09
Canada 5s 1962
when issued
1 10018
25 100
10 10018
New York City
*H? 1900
2 1021a
12 103
4*ts 1972
1 101
e ioua
Alan Rubber
Kb 1934
1 100*8
12 1001a
Alas Gold Min
oeb A 6s 25
4 Ilia
Amer Ac Cbem
7Hs 1941
8 10%
10 10434
1 1041a
10 104
Amer Cotton O
deb 6s 1931
10 871a
Am 8 ft Kfg
1st A SB 1947
1 92
1 9134
4 92
1 9178
3 9134
? 14 91*8
Am Sugar Co
is 1U7
4 100
6 997g
46 100
3 1001s
37 100
10 lCOIg
1 fl?%
Am Tel ft Tel
ct Is 1925
41 U51a
3 115
Am Tel ft Tel.
cl* Is 1941
1 9812!
1 98%
2 9834
3 985s
6 99
Am Tel ft Tel
Cv 4HS 1933
14 103
5 102%
Am Tel ft Tel
CV 4s 1936
?4 8534
Am Tel ft Tel
dt 4s 1929
31 91la
1 ?l%
Am w W ft r.l
col U is 1934
2 781a
4 79
Ann Arbor
1st 4s 1995
1 7278
Armour A Uu
1st 4Hs 1911
6 911s
2 9113
6 91
1 901a
3 t
3 0U8
Atch TftSKe
gen 4s 1995
10 8834
16 89
6 88%
2 fc87s
10 *858
2 89
8 .... 88.14
8 88%
Atch T ft St Fe
cv 4s I960
10 100
Atch T ft St Fe
adj 4s 1996
stamped
5 KHg
6 83lv
Ateb T ft 8 Fe
G-A 1st ref A
4Mb I94J
1 9214
All Coast I.lne
10-yT 7s 1930
3 106
Atl Coast Line
1/ ft N 4h 1962
7 821a
Atlantic ft Dan
1st 4s. 1948
2 77U
Atlantln Fruit
7s 1734
12 46
10 89
2 90
Cuba 4Hs 1949
2 F07g
2.. .801a
1..S0. .80
1 801a
Ciechosiorak
8s 1961
certificates
1 3 981a
10 984s
7 9834
1 4 981a
7 985s
2 9834
3 9858
35 981a
3 981 a
6 983s
1 98la
6 68%
0 981a
5 988s
3 9813
12 98U
1 981a
Denmark 8s 46
1 112
1 11134
1 111?8
9 11134
. 3 112
3 IU84
1 lllla
Dominican OA
to 1968
2 92
1 9278
2. .630. .92
Dutch Kastlnd
25-yr Os 1947
receipts
32 961a
1. .s7. .9614
3 967r
3 06%
8 9612
5 963s
14 9613
1 96! 4
45 'J6I3
2 9634
.?e%
.961a
? 961a
.9658
.961a
.9608
.9613
? 965s
.9634
.96*8
.9634
.97
.965s
.9612
965s
1. 9634
Dutch Eaatlnd
40-yr Is 1912
receipts
15 96IS
5 9634
4 967#
11 9634
1 967g
25 9634
3 9678
2 9634
5 967g
3 9634
1 9678
23 9634
20 967g
3 97
36 9634
96ta
1 985s French 8s 1945
5 10578
4 10<
8 1057g
1 8 10634
27 IO6I3
4 104%
1 9 105
985s 33 106Ia
.O8I3 ? 105%
.9834 3 IOM4
.0813 16 1061a
10 IO6I4
4 983s
2 0*%
1 5 981a
Denmark 6s 42
certificates
5 9834
?*
11
20
1.
16
6
30.
1.
1 10618
1 10614
French 7^s 1941
32 10234
1 108
1 5 1025s
14 1021a
4 10234
11 1021a
9 1025s
5 10234
1025s
10234
1025s
00 1021a
9 102U
2 1021a
5 10214
5 10218
3 102 *
1 6 1021a
9 102
Italy 6>is 1925
1 96U
1 06
Japan lst4)^s 25
2 90%
Japan 2d 4H? 23
4 90
1 891a
Japan 2d 4s 1931
49 77
5 77lg
5 7678
1 77
6 7718
Lyons ts 1934
2 88
2 88I4
43 88
2 88ls
3 8734
1 8818
4 8734
31 87la
1 8734
55...... 8/
5 871a Rio de Janeiro,
Marseilles flu 54 Is 1947
Irrl Wks Dev [ Ssn Paulo City
Agri 41*1 194.1
1 ..S30..46U
Netherlands
Os 1972
receipts
28 9513
3 055s
1..S7. .95U
49 9638
4 953s
26 0613
28 953a
2 95U
8 95
6 95U
Porto Alegre
?s 1911
3 1041a
2 IO484
2 105
5 10478
5. .87. 1041a
6 10 ? ?8
Queensland
s f K 7s 1941
? 1 !1
1 i loia
Queensland
6s 1947
certl Beaten
1.^7. .10213
5 10278
2 10284
2 103
6 10234
Rio de Janeiro
s r g <e 1946
1 104Ui
1 104
12 104laj
2 104
?3.. .10312;
1 1041a,
8s 1962
10 10518
1 1055s
2 10518
3 10514
Seine 7s 1942
30 90
2 ?63g
2 957g
22. 957g
6 96
f> 9534
2 96
81 9534
?a 96I4
18 9513
1..S30..9513
1..S7..9613
6 0584
Sweden 6s 1939
2 102
2 10|78
8 102
.10218
. 10214
.10213
. 10214
.102
i 1940
.11013
. 11634
.UHI3
.1103e
1.
7..
14..
1..
Swiss
It..
1..
1..
4.
United Klngdm
SHs 1922
9 1071a
65. .107 9-16
1 ..S5.10738
3 1071a
2.. 107 7-18
1. J7..107U
6.. 107 7-16
3 IOU41 United Klngdm
.104% cv 6Hs 1929
1046s
01.
35.
19 88
3..S10..8758
1 88
7 8734
10 877s
5 871a
1 . .sO. .80%
47 87
5 87*8
Mexico 6s 1954
17 671a
laige
10 63U
5 #3
Mexico 4s 1964
2 671a
6. us30. .6<>7g
1 58
3 671a
2 57%
6. .*80. .57
13 57%
1 671a
Norway Is 1940
8 112
2 1117b
3 112
1 11134
when Issued |
8 104V
2 105 I
6 104 78!
7 104%;
3 105 |
2 10478
17 10484
1 104%
2 1041a
Rio Grande do
Sul (Is 1941
2 IOI
1 104l8,
1 103%
2 1041a!
San PauloState
?b 1936
1 106
1 IO6I4
1 1061a
4 100
I.37..IO6I3
1 100
Tokio 6s 1952
4 7318
2 7314
1 72841
10714
10713
1 10778
1 4 107%
3 10713
5.37..10714
2 107%
1 5 10713
Uni King i;.^37
38.
6.
24.
1.
74.
1.
21.
5..
<0..
20..
4
.103
. .1031s
. . 103
..1031s
. .103
. . 102~8
,..103
. .103U
,..103%
,.,10318
. .10314
.103
Uruguay 8s 1946
2 107
2 1061s
10 106%
3 107
2 10714
Zurich Is 1964
1 131s
6 11314
1 ..S7.. 11278
RaJtlmore ft O
cr 4H* 1933
2 82%
7 83
3 82%
10 8278
24 82%
2 82 %
16 83
10 826#
5 827s
7 82l8
2 83
8 8213
19 82
Baltimore & O
1st 4s 1946
4 821a
3 821s
Baltimore ft (>
p I 3Hs 1925
19 93%
5 93%
Baltimore ft O
PtsJcft Mid
ref 3Vjs 1925
1. 92
Baltimore ft O
PLEftWV
ref 4s 1941
2 81
3 SOU
Baltimore ft O
S W 3}* 1026
2 9114
2 91%
1 WI4
6 91%
8 91U
Ramsdall Corp
8s 1931
5 107
1 106
2 107
10 106%
Bell Tel of Pa
7s 1946
f 108
2 IO8I4
6 108
Beth Steel 6s
10 98%
9 981a
f. 08%;
2 98%
2 981a I
3 98%
10 081a
1 08%
Bethim Steel
6s 1931
1 93%
1 931s
2 93%
Braden Cop M
coll Is 1931
3 9914
6 99
Bkin Edison Oo
6s A 1949
2 94
Bkln Edison Co
6s B 1930
3 I037a
Bkln EdisonCo
7s D 1940
4 107
Bkln Rap Tr
7s 1921
1 85
rertiflcatei
?tamped
1 79 '
Bkln Hap Tr!
6s IMS
4 A3 I
certificates
DOMESTIC.
Cent Leather
1st Ss 1926
2 1 971a
Cer de Pas Cop
CVsf 8s 31
0 114%
1 114%
Chee ft Ob 6s 39
1 10.
Ctafs ft Ohio
cr 6s 1946
II 91%
7 91%
3 4 92
11 91%
1 91%
Chos ft Ouiu
CV 4Hs 1930
36 8813
5.. . H8%
5 88%
68 8S78
68 89
1 4 H8%
1 5 89
15 891 s
25 89U
50 8013
3 5 89%
3 6 90
Ch?n ft Ohio
gen 4*-is 1992
7 87
4 88
1 H8I4
10 saia
Cbl ft Alton
8Ks 1960
1 60
2 49
2 5014
1 40%
2 401s
1 49%
2 4OI3
1 49%
Chi Bur ft y
6s 1971
25 98?s
2 99la
1 09U
3 993s
7 9878
10 99
18 987s
5 99U
3 98%
2 2 981a
Chi Mil ft St P
deb 4S 1934
2 65
5 64%
6... I..64%
Chi MM ft St I
gold 4a 1925
6 81%
01 8118
2 81%
2 8II4
67 81
Chi Mil ft St P
gen B 3)y 89
1 69
Chicago ft N W
10-yr 7s 1930
1 1061a
10 1067s
1 106%
Chicago ft NW I 1. ..
16-yr 6>$i 1935! Den ft
Cuba R R Co Flsk Rubber
1st Ss 1962
1 83
Cuban Am Sag
1st coll 8s 1911
13 106
Cut*a Cane Su
cv deb 7s 1930
3 84%
1. .s6. 8H4
stamped x%
4 84%
5 841a
2 84%
5 84%
1 841a
lO 84%
D<'l ft Hudson 1
conv 6s 1936 Genl
1st gm Is 1932
1 10718
FramerlcanID
7Hs 1942
20 iooia
w 100
7 10014
14 1001a
? 10014
3 iooia
5 10014
9 100
2 99%
23 100
Gil ASA Hft P
1st 6s 1931
9678
Klec Oo
1 108% | Imp 6s 1928
Chicago ft
gen 31ss 1987
2 100I8
Chicago Rys
1st 6s 1927
1 85
1 84%
5 847s
5 84%
1 85%
1 84%
10 84%
20.
.84
.. 97%j (a deb 1940
98 2 1067s
Rio a | 3 10013
Gnl Klec Oo
deb 6s 1952
3 99%
2 9914
10 99
2 99%
2 0913
60 | Gen Electric
1 491ai db 3Hs 1943
1 60 ! 1 .7818
9 49%; denes I'.iv Hit
6 50 1 1st 6s 1967
49% i 3 94%
30 83
Den ft Rio O
4s 1911
14 79%
Den ft Rio U
lstftref 6s 661
10
83%
Chi R I ft P
gen 4s 1988
5 8212
2 82%
Chi R I A P
ref 4a 1934 1 Dm M A Ft D
3 82U 1st 4s 1935
13 82I3I 1 5513
8 49%
15 80
9 497S
2 49%
1a... .60
1 4934
60
A K
1 66
Det City Uas
6s 23
5 99U
Detroit Edison
?s 1940
6 ICWa
3.
99
Chic Bur A
111 4b 1949 1
2 91la i
1 91 i
Chi A East III
1st con 6s. 24
A 105 I
Chi A East 111
IB 1961
10 8II3 I
6 81
3 8H4 |
6 81 !
5 8H4
0 8U3;
2 81% I
13 8H4
a Riis
15 8H4
4 BII3
6 Ml 14
22 8118
5 81% !
4 81 1
8 8OI3 I
Chlc A Erie
1st Jjb 1982 !
1 94
82U
43 82
2 821a
1 821a
Chi T H A SE
ref Ss 1960
1 85
2 86
Chi Un Station 1 103
1st 6%s 1963; Det United Hv
1 113% 1st con 4 bs 32
1 114%j 9 84
Chi A W Ind Dlamd Match
con 4si 1962 if 7Hs 19.16
3.. 1?..70U 2 108
2 75 ! Dis Securities
18..... .74la| 1st cv 5s 1927
Chile Coppei
Cv 7s 192.1
1 102U
1 10213
9 102
Chile Copper
lis 1931
16 91
3 91I4
1 45
duPont EldeN
10-yr 7Hs 19.11
1 107U
1 ..S7..107U
9 107U
7 1061a
DuqiiesneLght
7Hs 1936
6 106%
3.. . IOOI3
90Ts DuqueKiie Lt
90% i-t e<t 1940
.00%
s.
103% |
1031a;
4 697s Ch Gas Lt A C
Bkln Un lilev 1 1st Se 37
1.
1st 6s 1910
1 . .86
Buf Roch A f
con 4' js 1957
4 90%
Bush Terminal
ron Se 1965
2 UOI4
Bush Term Big
1st. 6s I960
1 90
Atlantic Kefng
?I* 1921
9 ....104
22 103%
9 103%
h 10334
A Dm Powder
CT ?Hs 19.16
8 106
Baltimore ft O
is IMS
37 100
4 o?r%
7 99%
2 100 i
a .997*
1 99% I
Baltimore ft O!
nfAkim 1
89%
''anadlanOenK
tsser A 1941
when Issued
6 102U
20 1021a
2 102%
. 6 1021a
10 10214
Canada Nortu
ro-yr 7s ?t?
1 11414
2 irna
Canada Nart'i
?Hi 1946
4 1121a
3 112%
1.
Chi
.93 |
West .
2 91
C C C A St L
ref Is Ber A 29
5 lOOIg
3 10014
i 100
C O C A St L
4s ser A 1993
I 83
Colorado Indus
1st Se 1934
1 77%! 1 103%
1 77131 Bdan El II NY
Col A Southern i 1st cu Ss 95
Odyr T
Is 1931
1 1027s
25 102%
5 103
8 102%
1 1027s
1 103
1 102%
7 103
2..^. .102%
1 10278
6 103
6 1027s
2 103
2 102 7g
2 103
1031s! Gdyr T A lt
1st Is 1941
5 11614
1 lldlg
9 116
2.....II6I4
1 116
1 116I4
2 116lg
7 116
5 11614
8 114%
Grnd Trunk Ky
7s 1949
1 1I41g
8 114%
4 114U
7 114
OrndTrunk Ry
6s 1931
11 101
20 1037s
10 104
2 1037S
KM
3
2...
10.. ,
lo:t% Great North Rr
10314
.10313
.103%
. 1031a
.10311 [
.103%
. 1031a
103%
ot
4s 1953
1 63
4 63tg
22 6314
5 63
Cblc Ind A So
4s 1956
5 851*
Chi Mil A PSd
4b 1949
2 77
3 76la
I 77
4 .77%
Chi Mil A St P
ct 5s 2014
6 75
1 74%
3 74U
6 747s
1 75
1 7313
4 7313
3 75
3 74%
3 74
ext *Ha 1915
1 89
I 88%
5 89
3 lta's Chi Mil A St P
1 112%' gen 4Hs 1989
4.
1...
1...
1...
3..
..87
. .86%
. .86%
. .87
. .86%
Baltimore A O
TolftC 4s 1969
t 89%
3 Il27g
Can Pacific
4s perpetual
96 8OI4
Canada South
con A is 1962
1 9814
Cent Foundry
1st Is 1131
3 83
2 83%
CentofOeorgla
10-yr 6s 192)
2. . 99%
Cent of Georgia
con 8s 1941
3 08
Cent New Eng
IB 1961
4 07
_ 4 07%
.87
1 K7U
Cbl Mil ft st p
CT 4 V* 1932
7 72%
12 721a
5 .2%
10 72
6 88%
Colorado ft So
1st 4b 1929
A 92
1 921s
Col (las ft Elc
1st 6s 1927
st amped
1 92%
Commcl Cable
1st 4s 2397
I 7313
Comp-Tab- Re
6s 1941
1 96%
Consolidation
Coal 6s 1960
3 885S
I 88%
10 881a
1 88%
Con Oas N Y
l-Tr CT g 7s 25
2 1141a
2..sA..11414
1 Hi
3 S3U
Empire <1 A- K
16-yr 7'im I9W
when Issued
103 f!8%
10 98.%
35 98%
5 98%
2 18%
Erie ext 7s I9J0
9 101
Erie 1st cn 4s 96
8 A6%
9 051.
Erie cv 4s A 61
3 60%
1 50%
1 6OI4
48 SO
Kile CT IB B 61
7? A 1934
44 1091s
6 109
42 10914
30.b5.109
> 100%
1 100
1 1091s
108 ... . 1C9U
10 109
7 10914
1 .... 108%
2 10914
1 1087g
0 1(9
1 109lg
2 109U
Ot North 6Hs 52
1.
.99
15...
3...
.115%
. 115U
.115
6 09ls
2 99li
2 99%
10 99U
2 991s
.99U
.09
9914
.90
.99
991?
.0014
3 60ls!Uol*man Mach
3 50la! 10-yr Ss 1932
6 SOU! 1 100
1 50 1 Holiand-Arrier
Krte CT 4s II U; 6s 1947
1 53 | 2 921a
1 63l8 Hudson* Man
8 53 | 1st IA rf A Ss 67
52% 8 85
t....
4....
I
0..
I....
1.
3
. .6213
..62
? r.i 7s
52
115I41 Erie gen 4s 1991
1...
3...
2...
8...
721a
...73
...72% I
...7113 1
..;i%
.711 j
.111
.11413
.114
.11413
.115
CM Mil ft 8t P
ref A 4hs 2014
? a;is
2 67
15 671$
I A/la ,
3 06%
20..
Cuba R R
7,'vi ser A Is
certl Ocatea
2 I021g
1 103
Cumber TAT
1st A gn ta .17
1 931,
8 03U
0.
16.
.64
.641.4
7 Mia
4 53%
6 64
1 53%
3 63I4
1 A3
5....?.531a
5 an 4
Erie A Jersey
1st Is 1955
1 9013
,861a
.85U
.851*
.86I4
6 .... 84 7g
Hudson A Man
adj Inc 6s 67
0 641s
4...
6...
It...
5.. ,
. .6-tia
,?4Ih
. .6-4
. .64l?
. .64
. .63l?
..03ia
Contlnaed on
F<^JowLnff
rage.
"For the purpose of accommodating
the citizens of the State"
From the Charter of The Farmers'
Loan and Trust Company, 1822
'EN in,such an everyday matter
as the receipt of deposits and
the cashing of checks, there is a
marked difference between routine service
and the spirit of accommodation.
THE FARMERS' LOAN
AND TRUST COMPANY
16-22 WILLIAM STREET
FIFTH AVE. OFFICE, 475 FIFTH AVE, AT 41K ST.
President: JAMES H. PERKINS
Vtet-Pruidtnts: SAMUEL SLOAN ? AUGUSTUS V. HEELY ? WILLIAM B. CARDOZO
CORNELIUS R. AGNEW ? WILLIAM A. DUNCAN ? HORACE F. HOWLAND ? HENRY KING SMITH
MMV<1
F?IVVIVVVWNIIVMMMHMMHIIIIIIim
FOREIGN BANK STATEMENTS.
LONDON. April 27.?The Bank of Eng
land's weekly statement shows changes as
follows:,
Total reserve Inc. ?327,000
Circulation dec. 831.000
Bullion dec. 3,955
Other securities Inc. 300,000
Other deposits Inc. 1,937,000
Public deposits dec. 2,82ft,000
Notes reserve inc. 333,000
Government securities dec. 920,0(10
Proportion of reserve to liability 10.30 per
cent.: last week 19.08 per cent.
Rate of discount 4 per cent.
PARIS, April 27.?The Bank of France's
weekly statement shows changes as follows:,
francs.
Gold in hand Inc. 275,000
Silver In hand inc. 0,0(10
Notes In circulation dec. 164,006.000
Treasury deposits Inc. 18,683.000
General deposits Inc. 47.011,000
Bills discounted dec. 40,878,000
Advances dec. 40.2S7.000
State repaid 200,000,000
BERLIN, April 27. ? The Relchsbank's
statement as of April 22 shows changes as
follows:
Marks.
Total coin and bullion Inc. 549,000
Gold Inc. 3,000 J
Treasury and loan ass'n
notes Inc. 668,767,000
Notes of other banks Inc. 1,738,000
Blllsof exchange and checks.Inc. 100,034,000
Discount and Treasury bills.dec. 2,097,101,000
Advances dec. 54.527.000
Investments dec. 2.128,000
Other assets Inc. 34(1,901,000
Notes In circulation dec. 1,43.".854.000
Deposits dec. 1.002,000,000
Other liabilities Inc. U5 213,000
Total gold holdings 999,8(1.8,000 marks, of
which 41,301,000 Is deposited In the Bank of
England.
DIVIDENDS,
Stock of
_ Record.Payable.
Beacon Oil Co. 2% Apr. 27 Apr. 29
Bethlehem Steel Corp., q.,
"A" $1.25 June 15 July 1
Bethlehem Steel Corp,, q.,
"B ' $1.25 June 15 July 1
Columbia* Gas A Elcctrlc
Co., *1.50 May 3 May 15.1
Consolidated Gas C., q.,
May 10 June 15
C leveland A Pittsburgh R
K.. q., guar 87Hc May 10 June 1
Cleveland A Pittsburgh R.
R., spec. guar. 50c May 10 June 1
Emerson Shoe Co., q., pf.
.."?75 Apr. 2(1 Mav 1
Harmony Mills, q., pf. $1,75.Apr. 28 May 1
Central R. R. of N. J., q.. *2.May 10 May 15 i
Massachusetts Gas Com
panics, s. a.. $2 May 15 Juno 1
Pennsylvania Coal A Coke
Co.. q.. $2 May 6 May 10
Southern Pipe Lino Co.. q.,
''' U.V June l
Turman Oil Co.. mo., 1%.., .May 30 June 20
Tunuan Oil Co.. mo.. 1?fc June 30 July 20
J. (n White Monagement
Corp., q pf. $1.75 May 15 June 1
W right Aeronautical Corp..
-5c May 15 May 31
EX DIVIDEND TABLE.
Anril 28 -
Austin Nichols A Co. pf $1.7S
P.' ciflc (las A Electric pf 1."<
Piclfic Gas A Electric orlg pf 1.50
Pullman Co 2.00
Stowart-Warncr Speedometer Co 73
May 1
L i-.rns Bros. "A" 2.00
Burns Rros "A." extra 50
| Burns Bros "B" 50
Iron Products pf 2.00
Ktllv-Sprlngfleld Tire 8% pf 2.00
I Superior Steel 1st pf 2.00
Superior Steel 2d pf * 2.00
U. S. Steel Corp. pf.., 1.75
\ ncutitn Oil 3.0(1
Vacuum Oil, extra 3.00
K W Wool worth 2.00
I !?' XV. Wool worth, extra -'.00
May 5?
Illinois Central 1.?J
linlon Tank Car l.^j
Union Tank Car pf 1.7J
FOREIGN INTERNAL BONDS.
I.ouns not Issued In American dollar values.
Rate. Date. Due. Illd. Ask.
Argentina (unllst.) 5 Sept.. 1745 8l'i 82
Belgian i restor's). 5 Option 1934 73 7(1
British Victory.... 4 Issued 1919 393 40.1
Canada 5 March 1937 99 90%
Canada 5% Nov... 1924 98% 99'4
Canada Mi, Nov... 1934 99 I0O
Colombia 0 issued 1913 07 70
Costa Rica 5 Issued 1911 00 01
French Victory.... 5 option 1931 70<4 72
French l.oan 4 Option 1943 57',4 88%
French Premium.. 5 83 s?
French l.oan 0 Option 1981 85 88
Italian War l.oan. 5 42 43
IVIotas (Brazil)... 5 Issued 1911 57'4 59
1'rngiiav 5 Issued 1919 74V? 75'?
IUis R Bds F A A. Ws Feb... 192(1 4'* (1
U. S. CERTIFICATES AND NOTES.
Month. Per. Wed. Apr-*.
1922. Cent. Bid. Asked. Bid. Yield
?June.. 4'i 100 1-10 100 1-H 100 3-32 3.14
?June.. 5H 100 7-32 100 9-32 lOO 1-4 3.14
Aug r.'j 100 1-2 100 19 32 Km 17-32 3.10
"Hep!,. v:t loo 3-8 100 15 32 too 3-8 3.23
?Sept,. r>U 100 21-32 100 3-4 100 21-32 3.20
OH 814 100 100 118 100 3.3)
?Dec... 4'4 100 9-10 100 11-18 100 9-10 3.39
1923.
?March. 4", 100 0-10 100 21 32 100 9.10 3 15
Msy... 4"!4 100.00 100.70 100.70 2 4.0(1
1924.
?June.. 5*4 10.1 1-4 103 3 8 103 1-4 4.07
?Sept... 5'.? 103 I-10 103 3-16 103 1 10 1.07
1925.
?March. 4% 101 11-33 101 7-10 101 3-8 4.21
1920.
?March. 4*4 lot 27-32 101 15-10 101 7-8 4.20
?Acceptable in payment of Federal taxes
on the datua of maturity.
I . S. PRK WAR BONUS.
Bid. Ask. Rid. Ask.
2s 1 "30. ..103% I"314 I' I 1" '34 . 84 90
3s c Ml... 87 .. . p I 4s '35. *4 90
4s r *25.. . 10414 105%l D of C 3-85 98 ,,
P 2s r '30.102% lOO'yllaw 4s 'tl. 8(1 <ir?
P 2s r '38.102% 103'4iP K 4s '40. 87
P 3s r '01. 88 91 |
An attractive
investment secured
by the credit of a
great government
Government of the
Dominion ?/Canada
30-Year 5% Gold Bonds
THESE bonds are due May 1,
1952 and are redeemable not
earlier than May 1, 1942. They
are the direct obligation of the
Government of the Dominion
of Canada, whose full faith and
credit are pledged for their pay
ment. Both principal and in
terest are payable in gold dollars
in New York without deduction
for any Canadian taxes.
Price 100 and Interest
Send for Descriptive Circular
Ames, Emerich & Co*
lll.Broadway, New York
Telephone Rector 2402
Chicago Kansas City Milwaukee
THE IMPORTERS AND TRADERS
NATIONAL BANK
OF NEW YORK
Conditions change. In these times, of all times,
it behooves business men to watch the pot and "keep
stirring." Sixty'six years' experience in business bank'
ing enables The Importers and Traders National
Bank to help customers who are stirring to meet
to-day's changing conditions.
The large measure of responsibility, as well as the
financial facilities this bank affords its depositors, is
denoted by the very large percentage which our Capi'
tal, Surplus and Undivided Profits bear to our Deposits.
chambers sf. " '
OPPOSITE CITY HALL
247 BROADWAY
FOREIGN MARKETS.
LONDON, April 87.?trading w*.? leu*
active on the Stock Ex''1i?iiro to-day. Sailer*
were more In evidence In th<> Kilt ril|> ??co
tton mill nil *hare* hi>i? *a*.v. .Quotations
follow :
liar ?liver, .14Vi<1. an ounce.
Bar Rolrt, O.'l*. Oil.
Money, - per cent.
Discount )?(??*: Short hill*, 2V? per ceftt.;
three month* Mil*. '."iWJA per rent.
C'i Mr rent. con*ol* R0i>
Hrltl*li Ti per rent, war loan, Of1,
Hrltlali 414 per rent. ??r loan, tM'j.
1 >o Beir*. Its.
Rand Mine*, SU
RAH IH, April OT,?Price* war* firmer on
the Hon run to-day. Quotation* follow:
franca, t'tmt,
per1 rent, rtnte* ."7 4r>
Kvhange on London 48 I
8 p?r cent, loan* 7* B2
United State* dollar 10 $4',4
N. A. ??<! A. I*. Ilaniln on Mnrket.
P. W. Chapman tk Co. are offrrltiR ft
block of the Sun Antonio and Aransa.*
Pass Railway'* flrnt mortRHB1' 4 per
rent, bonds, <latod Dtccmfctr 20, 18!I2.
ami due on .lunuary 1, 1>4I, to yield
more than 5.70 per cent. They are non
callable and their principal *ind Inter
est fftMtmnteed by the Southern Pa
cific Company'." lndOTeemrrtt. The luno
la .-retired by an absolute flrUt mort|CH*e
(?n '29 miles of road, iiK-hellng the mlle
nce between San Antonio, Houston,
Waco and Corpus Christ!.
* I ,n?0,n?0 fn?iir Authorised.
Tho Illinois Commerce Commission
lva?i authorised the Public Service Cow
j pany of Northern llllnol* to lawuo Jl.
1 300,000 first refunding 6 per cent bonda.

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