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The New York herald. [volume] (New York, N.Y.) 1920-1924, May 13, 1922, Image 15

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1922-05-13/ed-1/seq-15/

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A
' $100,000
Virginia &
Southwestern Ry. Co.
First Mortgage Gold 5's
Due Jan. "T, 2003
Outstanding the rate of
$10,590 per mile. Followed
by $5,000,000 Consolidated
5's, due 1958, which provide
for retirement. Controlled
by the Southern Railway
Company through stock ownership.
Price to yield 5.10%* \
ij
prince 8c J0l|4telg I
Established 117*
Mtmltrs Ncto York Slock Exchange 1
52 Broadway New York
Uptown Office, 565 Fifth Ave.
I
Carolina, Clinchfield
& Ohio Railway
Com. & Pfd.
Clinchfield Coal
Com. & Pfd.
Bought-tBold?Quoted.
J.K.Rice,Jr.&Co.
riimioa 1000 to 4010 .lohn. .Tfi Wall Bt.. N. Y.
Safe Bondsy&rmvestment ]
HALSEY, STUART
& CO. inc.
14 Wall Street j
FAILURES IN BUSINESS
DECREASE LAST WEEK
Insolvencies Drop From 491 to
408 During Period.
Another decrease In business failures
In the last week Is noted In trade reviews.
Insolvencies dropped to 108 from
491, in the preceding week, according to
Daft's TIerleio. A year before the defaults
were 333. Brcidstrcct'a declares
that failures were reduced from 400 a
week beforo tt> 374. In the corresponding
veelc of 1931 they were 313. The Pacific
coast was the only section which did
not show a decrease. There wore last
week 233 failures of liabilities of $5,003
or more, or 57.1 per cent, against 273
in the preceding week, In which the
percentage was 56, and 185 a year before,
when the percentage was 65.5. A
decrease of four to sixty-one is shown
by the Canadian failures.
linn's 1U, view says: |"Several statistical
exhibits of the week are highly
significant of tho current business recovery.
Records of steel output and of
unfilled tonnage, which are representative
industrial barometers, are unmistakably
favorable and returns of car
loadings disclose gains in general traffic.
With these Indices supporting other
evidences of economic progress, It is
not strange that confidence Is increasing
and that there is less hesitation
lu forward operation."
Bradatrcel'jf says : "Better weather
and crop reports, the Southwest and
lUWt'r \HI|ir>V l.'ALCjlLCII , JI1UIV
activity in retail trade, though few sections
report conditions better than fair;
collections still on the slow side: industrial
activities In April crystallizing
Into numerous favorable measures of
movement; a rather better trend of
reports as to Kuropean trade and political
conditions, chief of these being
new high levels for sterling exchange,
hut rather quieter and reactionary stoek
markets, about summarize the week's
happenings."
1,1 A B11, IT I MS INCREASE.
WASirtNOTON. May 12.?TAablliUqs in- \
volved In the failures of business con- J
ccrns In Argentina during April were :
1 fi,300,000 paper pesos, acording to today's
report to the Commerce Department
from Commercial Attache h'eely at
Wuenos Aires. That amount, he said,
was an Increase of 700,000 paper pesos,
compared with those of Marrti, and
CUIII|#??CU wiui uiyac v/i njun,
1921.
O/L P/P? Z/tf? MINIMUM
CUT BY COMMISSION
Companies Must Accept 10,'
000 Barrel Shipments.
Washington, May 12.?The Prairie,
Indiana. Huckeye and Northern pipe line
oomfjMinU's are required, under an Interstate
Commeroe Commission decision
Just announced, to accept minimum ahlp- 1
merits of 10,000 barrels from oil wells In
Kansas, Oklahoma and Texas for pump.
In* to tho Franklin and lacy stations,
both In Pennsylvania.
The former rules of the pipe tin* companies
required a minimum of 100,000
barrels. This rule, as well as the rates 1
charged for tha service, was attacked
In a complaint filed by Urundred Brothers,
produceres and purchasers of crude
petroleum In tha Southwest. The commission
held that the rates were not un-1
seasonable.
MONET MARKET.
Vltl DAY, MAT 12.
Renewals ,v?i I.h.i gu
lllrh 3% Year's hlsli ti
Low ,'IHIYear's low .1
TIMTK LOANS.
Mlxrd collateral, 00 le 90 days, 414
Mixed collateral. 4 to 0 months 414
Industrials. 00 to 00 days 4t,*4H
Industrials. 4 to 0 months 4Vt94Vt
I w.^.Tiriu i/iii i^irnn,
I'??t name*. 4 to 0 month* . gu i
Other name*. 4 to 0 month* ?(]
Pistol NT It AT*, IIK?KRVB RANK.
(Commercial p?P**, *1B day*, n>: M to N
**ys, 4H; Tdberty vonda and Victory not**,
15 d?y*. 4H: ! to R day*. 414; bankara'
acceptance*, 15 to t>0 day*, 4H
Fixed November 2. Prevlaua rata, ,
fixed September 21.
OrUN MARKET tATEI.
Call lean* and acceptance* S'i*
Discount rate* on prim* banker*' acceptance*
eligible for purchase by federal Itc>-erve
bank*:
Bid. A*k. Bid A?k
,10 day*. .'!'i .T?| 00 rt*y? 1', .11,
tiO day* 3t, ?H|t20 day* .T, :p,
mi-tRINH llOl'SK STATEMENT.
Clearing lliume exchange*. l"2fl?'100,0no.
balance*. |7k,l(l0,P<k>; Federal Roacr\e credit
balances* MS.'.'oo.otw.
SI I,VF.lt M ARKT.T.
Offtclal bar silver In New York, domestic,
P9%c., uncliangod; foreign, 70(*? , off >,< ;
T.ondon, il.V.jd., oft "Jd.: Mexican dollais.
MVtc., off Uc.
Rang* of silver price* this year:
Highest. T.n?r**t.
T.ondon 33%d., Aprtt IS SSHd., Fsb. 2S
Jsew York 70%c? May 11 &2?*c., Feb. 28
I FINANCIAL NEWS
AND COMMENT
Steel Merger Acts as Tonic to
Stock Market?Steel
Issues Soar.
Tho stock market found in the unexpected
Bethlehem - Lackawanna steel
merger a powerful influence to check un- 1
settling factors which had been shaping
priaes for a fortnight, and heavy
dealings caused yesterday _? rapid re- j
treat of tjie short Interest In many dl- |
rections. The steel stocks naturally oc? '
cupled the center of the stage with
gains of 2 to more than 12 points, but j
buying broadened out persistently after |
the first half hour of business and at the :
end of the session there were many
advances of more than a point among
Industrials. The speculative community
always is Impressed by dramatic
developments. The latest merger, by
itself, reflects producers' desire to diversify
their output, reduce overhead
costs and intensify selling campaigns j
more than the* certainty of large busi
ness and good profits In the near future.
Mergers of themselves will not Increase
business, but buyers of stocks were
content yesterday to make use of the
excitement of the moment and in consequence
the short interest found the
going exceedingly rough.
The effort to guess the terms which
Lackawanna shares would enjoy in exchange
for Bethlehem stock carried the
former up to 7 points more than Thurs
days rinai quotation in me opening saie
and 5 points m^re wore added later. So
sharp a movement suggested that large
blocks had been accumulated In advance
of the merger news and that made It all
the more difficult for the shorts to extricate
themselves. The many rumors
of additional consolidations 'which filled
the brokerage ofices were natural accompaniments
of the big event and the
fervor of speculation was abated In no
way by Senator La Follette's successful
effort to have the Senate Investigate/
the proposed consolidations. With the
United States Steel Corporation's experience
with the Sherman law as a
precedent the financial community Is
not easily depressed by legislative Inquiries.
The strength of stocks edged over into
the bond market, special demonstrations
being made by Lackawanna Steel Ss.
which advanced 2 points, and several
agricultural company Issues Although
most of the gains were fractional, the
slight movement was noticeable against
the background of featureless bond market
business since mid April. The easy
money situation probably helped runaea
securities as much as did the buoyancy
of stocks, as Federal Reserve figures for
the week showed pretty clearly that with
May 1 transactions out of the way liquidation
of member bank loans was progressing
again. Tho reserve banks hold
more than 13,000,000,000 of go>d, a new
high record, established In the last week.
| The conversion of many millions of hank
loans to corporations into bond Issues
during the last six months, a process
still going on briskly. Is Rctlng to transI
l'er a large part of the loan burden to the
public. That tact should not be lost
sight of when explanations are sought
for the contraction of loans and currency
at tho same time that buriness demands
for funds are Increasing. Call money
loans were renewed at 314 Per cent., the
lowest figure In several weeks, and the
afternoon rale was 3 Mi per cent.
The foreign exchanges sacred slightly, 3
but made no noteworthy response to
news that France in effect had broken
oft further political discussions with 1
Russia In Genoa. Wheat quotations 3
quieted down as compared with Thurs
uuy b MiiruiK nisrxci ?nu coiion leu on
with only slight changes.
FOREIGN EXCHANGE.
FRIDAY, MAY 12. 1022.
GREAT BRITAIN. ,
Parity. Thurs|
1.8648. Sterling: Friday. day. May 5. .
Demand $4.44'4 $4.44% $4 41% 1
Cables 4.441i 4.44% 4.44%
Hankers, HO dya 4.41% 4.41% 4.42
Bankers, 10 dys 4.40% 4.40% 4.40% \
TUB CONTINENT.
10-30 France, cents a franc:
Demand 0.1" 0-.13% 0 16% |
/ Cables 0.10% 0.14 0.17
10.30 Relglum, cents a franc: I
Demand 8.30 8.33% 8.38%
Cables 8.30% 8.34 8.39.
19.30 Switzerland, cents a franc:
Demand 10.27 10.27 10.81
Cables 10.29 10.29 19.33
10.SO Italy, cents a lira:
Demand 5.25 0.3(1 8.36
Cables 6.23% 6.30% 5.36% .
23.80 Germany, cents a mark: 1
Demand 34% .84% .86%
Cables 34% .34% .30%
26.80 Sweden, cents a krone:
Demand 83(13 25.87 25.85
Cables 25.70 2.7.62 25.90
26,80 Norway, cents a krone:
Demand 18.63 18 60 18.60
Cables 18.08 18.05 18.63 ,
26.80 Denmark, cents a krone: '
Demand 21.25 21.25 21.20
Cables _.21.30 21.30 21.25
19.30 Greece, cents a drachma:
Demand ...... 4.20 4.30 4.63
Cables 4.28 4.35 4.57
19.30 Spain, cents a peseta:
Demand 16.54 18.52 15.53
Cables 16.36 15.54 15.55
40.20 Holland, cents a florin:
i amana w.wi iin.p.: iju.iin
Cabin* 3D.<4 38.57 38.4p |
Bl.M Ruult. c?nl? a rulila:
500 runlea 0714 .07% .07 I
.%?*) ruble* "7!? .07% V07%
20.80 Austria, canta a crown:
Daman* 01% .OtU .01%
cablea 01% .01% .01%
23 80 7*olan<i, cents a mark:
Demand ir.1% .02*4 .02V4
Cubic* 0384 .0284 .0284
20.30 Hungary, cent* a crown:
ivmand 12% .1274 .13 i
Cable .14 .14
20.30 Jugn Hiavla, cents a crown:
I teiuatid 30% .30*4 .3084
Cablea 37V. .37% .37".
19.30 Finland, cents a mark:
Drma.nl *.10 2.00 2.10
i "ahles S.I I 2.10 2.11
20111 Cae< lio HlovaWla. cents a crown:
Demand 1 in 1.021* 1.1)4
Cables 1.01 1.9314 1 or.
10 SO llumanla, canli a leu: _
Demand 70 w 0 .70
Cable 71 .71 .71
|4 40 Turkey, cent* a pound:
ivmand oo.oo on.no on no
Cable 71. 50 71.00 72.00
MR KAHT.
100.33 Shanghai. cents a lael:
Demand 70 S.-. 74.27 70.87
shies 78.75 18.75 78.75
78.00 Hongkong, centa a dollar:
Demand 37.3114 r,7.0214 77.0214
Cables 81.75 58.00 58.00
48 80 Bombay, centa a rupee:
Demand 28.25 28.25 28 70 .
Cables 30.5ft 20.70 38.70 *
49.84 Yokohama. cents a yen:
Demand 47.25 4 7 2.7 47.3714
Cable 47.50 47.6214
MM TH A.MKRICA.
32.41 Bin de Janalrd, rente a mllrela: .
Demand 13.04 M.nfl 13,75 1
Cable 11.1214 13.81
42.45 lluenna Alrea, renin a prao: 1
Demand 841.371a 30.31 38.3714
Cables 311.13 ' 36.3714 36.43
103.42 Urvtuay, centa a dollar:
Den.and 70.87H, 70 87'4 80.m? 1
Cables S4I.IKI 80.00 80.1214
30 50 Chile, rente a peso:
Demand 11.fat 11.1714 11.31
Cablea 11.5(1 11.43 11.3114
CANADA.
New Tnrlt funds In Montreal. 811.11 premium
a $1,000; Montreal funds In New York, I
$11.50 discount""* 11.000.
_ THE
NEW Y(
Day's sales <
r,?'"r: ? l r-cioains.-, intv.i I
HlSh.l I.OW. | Bid. | A?k. jln?.| Halea. |
18% 13%~itt% 17 .. 700[AJax J
% % % % .. 11001 Alaska
1'4 % 1% 1% .. 1700|Alaska
69% 55% 68% 66% 4 1800lAllied
53 37% 18 49 4 300|Allis (
100 86% 97% 97% 7 300|Alli9 C
41% 29% 38% 38% .. 300 Am A,
70% 55% 65% 66 .. 200iAm A;
44 31% 39% 40 .. 400; Am 11.
49 | Sl%' 43% 44% .. 7001 Am Bi
50% 82% 47% 47% .. 3300 Am Ct
164 141 158% 160 12 500;Am Cs
14 7 12% 13% .. 700 Am CI
27% 19% 25% 25% .. 1200!Am O
6% 4% 5% 5% .. 500jAm Di
17% 12 15% 16 .. - 100 Am H
72%l 58 67 68 .. 300,Am 11
114%I 78 104% 105 7 1100;Am Ic
82% I 72 80% 80% 6 200|Am Ic
48 I 38% 44 44% .. OOO'Am It
13%I 9% 12% 12% 1 17001 Am U
36% [ 29% 32% 33 .. 600' Am I,
117% 102 114 114% 6| 37001 Am Ia
118 '112 Hl? 1117 7 2001 Am I,
99% I 82 07*41 97% 4 1300 Am R
8%1 3% t%! (>% .. 500 Am Su
1814; 514 16% 17% .. 1100\\m SI
59% j 43% 57% 58 .. 1500'Am Sr
98% i 86%! 97% 98 7 1400 Am Sr
40% 30%i 38% 3S% 3 3800.Am Hi
76% 54%. 74% | *4% .. 800|Am Si
36% 23% I 33 34 .. 1400'Am Si
124% 114%ll21%ll21% 9 2100!Am T(
144% 129% 135 % 136 J2l 1100'Am T
139 126 !135%l136 121 1500!Am T<
102% 96% 100% 1101 % ' r: 500! AmToI
95% 78%; 91%; 91%' 7I 2600'AmW
108% 102%1105%'106%! 7! 100 Am \\
19% 12%! 17%: IS .. 900'Am Z,
44% 36 I 44 ) 43 1 . . 200lAm Z,
54% I 47 52%! 52%! ..! 6100'Anaco
57%| 4ft : 54%i 55 I 4[ 300'<\sso I
84 75%f 83 84%! 7 200'A llry
135%' 99 1125%! 126 I 6 2500'Asso
102 91%' 99 | 99% fit 1600'At, To
91% 85 ! 90%! 91 I 5 500'A. T ?
103 93 101%|102 7 100 Atlant
*1& 2%! 3Ji 4 ..! 2600! Atlant
12d 120 1124 i 128 12 lOOIAtlas
38% 23% 33 35% ..] 400[At, Gi
"I^i 24%| 25 ..| 200'At, O
.'8 9%| 24%f 25%! 300!Austin
120 92% 116% 117 J 71 15200' Baldw
AQ1AI OOU I a r ns ' ao ! I ^ a !?-?_?..
??7Z tu*74 to **IMJ IKI.'t tV
61% 52% 60% G0%! 4 300 Bait &
56% 10% 44% 45 ! .. 1900jBarnix
30 19% 31% 32%! .. 600 Barn6i
1% % % l% .. 8001 Ba topi
60 33 45 49 .. 100 Bayuk
70 j 51 77% 77%' 5 2300 Beth
101 I 9074 94 99 I 7 200 B Stet
114 104 112% 114 ! 8 100 B Stl
82% 55%: 81% 81%! 5 58400 Beth i
274 74 . . I .. .. 480 Bkn 10
2974 19% 26% I 27 .. 100 Brit 17
110 100%' 107 1108% 8 100 Bkn )
27% 6% 25% i 26 .. 2100|Bkn 1
23% 5% 22 ! 22% .. 60015 11'!
106% 70 101%|l03 .. 300 Bkn 1
51 42 45%[ 47 .. 200jBrown
9274 70 89 90 7 100 (Brown
474 2% 4 I 4%| .. 100 (Brims
138 115 133% 133%! 10 500 Ifurna
43% 28% 40%! 41 2 800|B'urns
34 26 26%! 26% ..| 400lButter
7% 5% 6%! 6% ..I 100; Butte
3 1 74 : 20 % 30% ( 31 .. 2200'Butte
1574! 10% 12%! 1274 400 Caddo
80 74 6.8 7 8% I 79 6 200 Oal T
597.4.! 43% 56 | 56% .2100|Cal Vc
8%| 5%j 7%! 774! 3200lCallah;
145 |119% (140% (140% ( 10( 2400(0an 1
40% | 29% 37 37% ..( 2000'Cent
74 63% 09 70 I . . 200(Cent I
3 7 74 32 % 36% 37% ..I 200 Cerro
79% 47% 73% 74 c( 3200 Chanil]
6674 54 64741 65% 2 1J0O Ohesa
9% 1% 7% I S .. 200 Oh if
1974 3% 15% 16 .. 1000 Chic &
3974! 12% 3774 38 .. 1100 Ohic 1
9% 5% 8 J 874 100 Chic (
23% 14Vi 21 I 21% ..I 600ichic <
29% 16% 25% 26 ..I 1200|C, M S
47 26 41 % 42 .. 2800J(M i
76% 59 73% 73% 5 600 Ohio ?
48% 30% 4234 43 I . . 4900 C. R]
83% 70% 81 82 ( 0 600 C.RI&
97 83% 95%I 96 7' 10<)!C,R1&]
20% 15% 19%, 19 i. ..I 2400jOhilo
29% 25% 27% 28%' ..I 1100 Oblno
60% 43 83 I 55 j ..) 100 Cluett.
58% 41 57% 57% I 4: 3300 Coca-C
35% 24 35% 35% ..I 6500'CoNYi
53% 28 47% 47% j 3 301) Col &
8934 64%, 87%! 87% o 700 Col (la
5% 1%^%! 4% i .. 4400 Col Or
79% I 66% 61%; 65 4' 7400)Comp
30% 18% 25 (29 I .. 100 Consol
20% 85 116% 116% 7 1900 ConsoI
15% 12 13 % I 13 % ' SCOO'Consol
69 45% 65 66 . . COOiConti '
08% 91% 100% 1100% fH 3500Corn I
17 111 116 |117 ! 7! 200Corn I
45% 31% 43% - 43% 12% 8700iCosdm
75% 52% 75*41 75% .. 44600 Ciuotb
95 80 94 95 7 100 Crnclb
26% 14% 20% 21 .. 1300 Oilman
91% 78% 92 94 7 300Cutxin
19% 8% 15% 15% .. 7601Cutia I
40% 15% 33 33% .. 700'Cubfi (
65% 48% 58% | 58741 .. 5000iDaviHo
23% 15% 20%! 21 | .. 200;DeBeei
22%1106% 121% 122 I 9 lOOjDel &
19%1110% 116 |117%! 6 ^OOlDol, %
08T4 100% 1106% 1107% I 8l lOOlDotroil
28%! 18i4| 27%| 27% l! 800'Dome
77%! 76%! 77%! 77%! 6 lBOOiEaat l<
.79% [125 >168 ! 172 1 32! lOOjEloc S
22%! 14% I 19 | 19%! ..| 100 Elk Hi
9 I 2*41 7% I 9 I .J- 3001 Em'r 3
87%! 76% i 82 I 82%' 5 1000lEndicc
12-!41104 1110% 111%! 7 100!End! J
14%: 7 i 1274 Iff%l .. 20001 Erie .
25 I 11%! 21% 22 ! .. 2300|Erlo 1;
1674! 7% 14% 14%' .. 200!Erie 2?
85%I 75%' 80% 80741 8 2400 Fam I
99 ' 9t%! 93 94%! 8| 100 Fam 1
46% I 37 I 42% 44 I 4 200! Fed M
.27%' 75 1115% '116 i 10i 104 Fisher
19% | 11% 18% I 18% .. 1500 Fink 1
20%I 12%! 1S"H! 18%! .. 4900!VYeepr
1 %!>-. %| %! %; .. 800 Gas. V
6 7 74 ' 46% I ?3 ' 65 3 200 Hen A
67 ! 55%! 61%; 62 ' ..I 1200|Oen A
76% I 65 I 71%) 72% 6| 100)aen CI
,66%'136 162 % '162% xl2l 300lGon !
13%l 8%' 12%' 12% 8100 (Sen ?l
80 ! R7U ! si I..1 SI I.. C ''An nan \i
05% I 79%j 91 91 % 7! 100|GM do
42% I 34 %' 40 I 40', I ..! 200 Goodrl
30%! 2G ! 38%! 2S-"m ..| 6200 Oranb'
19%i 12 I 17 I 17Vi 400 (Gray i
80=441 70 V? I 74V4 i 74^ 71 1900'Great
45%! 31%! 41 I 41 *<?! 4:136000 Great
32%| 25%1 30 I 307*! .. 200iGreenr
18%! 5 1S ?/4! 14%! .. 10?WGiilf, 9
39%| 16 35 ! 37 I .. 200 Gulf. \
90%! 44% 84%! 85%| .. 16700 Gulf H
3%l % p- I 2%I .. 300JTablrs
32% 15 19 I 21 ! .. 200 Hentlci
19% 10% ]8%! 18% i 1 1000' Hupp
9% 3% 8% I 8% .. 8700'Ilydrni
83% 70 78 I 78141 1200'llonstc
09% 97% 103%' 103%1 7 1000(111 fen
4% 3% 4% I 4% I .. 1200 In<Mah<
10 ! 5% S ! 8%' .. 100!Indian
42%! 37% 40%l 40 % I .. OOOiInapIra
5 11 2% 3 I .. 2300!tnterbi
K'%1 3%' r?%! fi ! ..I 7100' fnterlv
11%! 7%I 10%, 10% ..! 500!Int An
43 % I 33 ! 39 '41 | ..! 10<) Int An
38% t 26 36%! 37% 2% 1100 Inter
28%I 22 25% 26 I 2' 1300 Int Go
98 ! 79% 97 I 98 I 7,1 (00 Int H*
27% 13% 23% I 23%! .. ltOOlliit M?
87% 62 % S3 % I 83 I 6 2300|lnt 31
19% 11% 17% I 18 I . . 4700 Int Ni<
54% 43% 50% 60%: .. 3200'lnt J'a
71% 59 67 ' 68 J 6 200 hit V
20% 12% 17%| 17%' .. 2400'fnvlncl
35 24 30%! 32 f ..I 6500[Iron P
3 j %[ 1% 1 % I .. 10600! Island
22%! 10 I 20% 21 800[jewel
73 ' 38%| 71 71% .. 300'Jewel
43% 31%' 41 % 12 .. 200!.lonoH
7 % | 4%) 4%| 5 .. 1800' Ramon
30% 22 | 27%! 27% .. 2100 Kan C
59% | 52% 57%! 58 1 4, 300 K fit x
47%! 34 ! 43%i 43% 4200|K*y*ir
03 I 94 103 j 103% I 8 i 100 Kavser
53%! 31%: 60%I 50%| ..! 3600 Kelly I
07% 90%! 107 1107%: 8 300 k'tl H '
34%! 25%! 33 I 83%! ..! ?40o!Kenne.
24%! 15%! 21%l 21%) ..I 5600 Key T
?l nn 'I5TL. I1II 111 inn Kresen
78% 14 78% 78% .. 88100!hack >
43 7!) I 80 | ,.| 800ihaded.
30 2?% 33% 34 ( ..I -(OOlhakc !
35H 36% 33% 33% 21 100 heo R
Hf?% R6% fi1%l 700 I,ehit,rl
[!L -?.1 ,0?> N"-* 7 300 Mma
18% 11 l$T?i 16 I ..| 1800|Loe\vs
%
NEW YORK HERALD,
)RK STOCK EXi
FRIDAY. M
1922. 1921. 1920r
1,174,399 793,90S 470,363
|Optjn- I inch-1 Low-1 i'los-| Net
[ lug. . eet. | >i?t. | tng. Cti'nga.
Rubber..! 17 f 17 " 16% 17 + %
lGM... % % % %
l Juneau 1% 1% 1% 1% + %
C & D... 66 66% 65% 66% + %
hulmers 48% 48% 48% 48%
"halm pf 98 98 97% 97%
sr Chem. 38% 38% 38% 38% - %
if Ch pf. 66 66 65% 66%!? %
?et Sup.. 38% 39 58%' 39 ! + %
o-sch M.. 41% 44%! 43% 44 f+ 1
in 47% 47% 47 47%'+ %
ir & Fdy 158 158% 158 158%!+ 2
licle .... 12% 13 12%I 12% + %
ot Oil... 25% 25% 26 25%!+ %
rugSyn. 5% 5% 5% 5% ..
ide A Li.. 15 15 15 15 [+ %
66% 67% 66% 67% | + 1%
e 102%|104%!102%jl<H |+ Z
:e pf.... 80% I SO Vi ! 80% 80V4! 4- %
it Corp.. 43%j 44%| 43% 41%;+ %
IFF Eng 12%I 12% 12%i 12%! ..
lnseed... 32%! 82% 32%: 32%:? %
*com ... 113% 114%|ll3 1114 + 1
ocom pf. 116% 1116% 116% 116%
tdiator.. 95% 98 95% 97% -f 4%
if Razor. 6/61 6% I 6% (i% + %
l & Cnrn. 16%| 17%l 16%l 17 + %
n A Ref. 56% 58 54% 68 + 1%
ii & R pf 97.% I 97% i 97% | 97% ? %
I Foun.. 38 % | 38% I 37% | 38%|-f %
igar .... 73%[ 74%! 73%I 74% 1+ %
ini Tol). 33%| 33%! 32 32%!? 1%
'1 & Tel. 121%|121% 1*1% 121% ..
obucco.. 138%! 139%! 138% ! 139% ! -f- 2
:>b pf.... 135 136% 1185 |136%i-f- 1%
> pf new 101 [101 j 100%j |.00% I? %
oolen ... 91%l 9L%; 91 ! 91%|-f- %
roolon pf. 106 106 ] 106 i 100
, L & S. 18%' 18% 18 I 18 1? >4
T.&S pf. 43%! 43% 43% 4;!%!? %
Qda, 52% 53 52% 1 52% -f* %
ll*y Gds. 53 ;4 54 % u3%' 54% -j" %
O 2>1 pf S4 81 84 i 81 ? %
Oil 122 126% 121 % 1125%J-j- 4%
p 4 8P. 99% 99% 99 i 99% I ..
S SF pf 91 ! 91 911 91 ;? %
in r? T. , 1 nn.ir.! irtn:u inn3/_ . inn.v.: _i_
1c Fruit. 3% 4 I 3% 3%!? %
Powder. ] 125 125 125 125 + 5
llf & WI 35% 35% 35% 35% + %
& WI pf 24 24% 24 24% + %
Nichols 25%-f 25% 25 25 ? %
in Loco. 115% 116% 114% 116% + 1%
: Ohio. .. 46% 46% 45% 46 + %
; O pf. .. 60% 60% 60% 60%? %
lall "A". 45 45% 44% 44% ? %
laII "B". 32% 32% 31% 31%? 1%
'lis 1 1% 1 1% + %
Bros... 48 48 48 48 ?1
Steel 76% 70 76% 77% + 3%
1 7 pc pf 90 90 99 99
8 pc pf. 114 114 114 114 + 1%
Steel B.. 79% 82% 78% 81% + 2%
dison rts 2% 2% 2% 2%l + %
: Stl 2 pf 26% 26% 26% 26% + %
Edison... 107 107 107 107 ? 2%
lap Tr.. 26% 26% 25% 25% ? %
' ctfs 22% 22% 22 I 22 ? %
Tn (las.. '102 102 101%ll01% + %
t Shoe.. I 45% 46 45%I 46 + %
i Shoo pf 89 80 89 i 89 ? %
T & RRj 4 4 4 4
Bros..1133 133% 1133 [133%+ %
Bros B. 39% 40%) 39 j 40% + 1%
ick ....| 26% 26%I 26 i 26 %
Cop & Z.I 6% 6%J 6% 6% ..
& Sup.. 31%) 31% 30% I 30% + %
CO&Rl 12% I 12 % I 12%' 12% + %
fiflr I 70 I 70 70 I 70
trol 5 5% 56%: 55% I 56%+ 74
anZ&L 7%! 8 1 7%' 7%!+ %
>ac |139%!140% 139% 140 | + %
Leather. 36%| 37%' 36 37%l + %
.eath pf. 69 I 69 j 69 i 69 -f %
do Pasco 37 | 37 | 37 37 -h %
lor Mot. 73% I 7374! 73 73% + 1%
& Ohio. 65 6 > ! 6474 65 -j" 7
t Alton. 8 8 ! 8 8
Alt pf. 16%' 16%! 1574 16 + 1
last 111.. 37%! 37 % i 37%' 37% + %
It West. 8% s%: 8%; 8% 4- %
it W pf. 31 21% 21 21 4+ %
c St Paul 26 26 25 25%
t St r pf 42 42% 41% 42%!+ %
: N W.. 73% 73% 73% 73%? %
& Pac.. 42% 43% 42% 43 + %
P 6 pc pf 80% i 81 80% 81 + %
P 7 pc pf 95%! 95% 95% 95% ..
Copper.. 19% 39% 19 19% + %
Copper. 28% 28% 27%; 28% + %
P & Co 54 54 54 1 .V4 ? 1
'nla .... 5 6 74 5 8 5 6 % 5774 + 74
el & Iron 32% 35% 32% 35% + 3
South... 47',-4 47% 47% 47%! ? . %
s & Elec 87% 87%! 87% 87% +\ %
apho ... 4%' 4%| 4%' 4% I ..
Tab Rec! 66%; 66% 64%' 65 ? 1
Ciftrar. .1 27% I 27%! 27%' 27% ? %
Gas ... 116% 116% 116 116% ? %<
Textile.! 13 ! 13%' 13 ! 13% + %
Pan 6474; 65% 64% 65% + 1
rod Ref. 100 101% 99% 101% + 1%
T Ref pf 116 1116 116 ; 116 + %
i & Co.. 4274 4344 42 ' 43% + 1%
le Steel. 69% 7574 68%! 75% + 6%
le St pf. 94% 9474 94% 94% + 1
A SufT. >21% 11% 20% 20% + %
A S pf. 93 94 93 91
Pane S.. 15% 15% 1574 15% + %
P S pf.. 33% 33% I 33% I 33% ..
n Client! 56% 5874! 66% I 5 8 74 + 2%
ra M Am! 20% 2 0 74 ' 20% 2074 + %
Hudson. 121% 121 % 121% 121% + 74
& West.'117 117 1116% 116% ? %
Edit ou 1107 107 1107 1107 !+ %
Mines... 27 I 27%I 27 i 27% + %
Coclak... 77%| 77%: 77%! 77% + %
U>r Hat. 17! 171 117! 171 1
r>rn O... 19Vfcl 19% 19%' 19% + 74
Brant... 8 ! 8 8 j 8
>tt John. 81% 83 81% I 81! + 1
ehn pf.. Ill lit 111 |111
12% 13% 12%; 13 + %
<t pf 21% 217* 21 | 2174 + %
1 pf 11% 14%: 14% 14%1 ..
'lay-U.. 80%I 81 | 79% 80%'+ %
"lay-Epf 94 I 94 I 04 94
A Mm pt'i 42 I 42 | 42 42 + %
Kody.. .1115 i 116 115 116 + 1
Rubber..) 18% I 18%j 18% 18%
rt Tex..! Ill I 19%! 18% 18%!? %
y & wig' %| %i %| %) ..
m T C... 63 | 63 ! 63 | C3 ? %
uphalt... I 61 ; 61% | 61 ; 6176!+ 76
Kar I 71 71 I 71 J 71 I ..
Ilectrto...1163 % i 103% 1162 % 162%'+ %
rotors....! 12% 1 12%! 12%! 13%!+ %
ot dob... 8174 817+ 81 %! 8174 ? 74
h pf 7 pel 94 94 I 94 | 94 '
eh I 4074! 4074! 40 I 40 |+ %
\f C. M&Sl 26 % I 28% 26 % I 2874j+ 3%
t Tin v... j 17%! 17'4i 18% ! 17%!+ %
Nor pf..! 74% I 74%! 71 I 74%[? 74
Nor Ore! 39%| 41H 39741 41 %!+ 1%
? Can C. | 80%I 80% 80%! 30%! ..
Job A Nl 15 115 IB I 15 ? %
T & N t>f 35 I 35 35 1 85 ' + \
tates Stl 8274! 88% 81%l 84%|4- 2v:.
haw EC 2%! 2%I 2 I 2 ? %
9 Mfg .. 20 j 20 j 20 I 20 I ..
Motor.. 18%! 18%! 17% 18%'+ %
tile St... 8 ' 8%I -7%: 8741+ %
?n Oil... 7814! 78%! 77%! 7SVi!+ %
tral . ...|l047*'l04% I08%tl03% ? %
3ma ... 4 74! 4%' 4%! 4%t ..
KOI ... .V* n n>, *% ? Ml
itlon C.. 4" 4(Hi' 30911 40! -+- %
?ro Carp 2% 3 I 2% I 3 '4- %
Jro r ?f a 94 6 941 r% r.%,' + %
cri Corp. 10% It 10%! 10%' ..
r C pf.. 40 40 j 40 ! 40 I? %
Cement. 36% 37 Vi I 36%! a7Mi! %
mh Eng 2A% 2894! 26%! 28% + 1
irv Co.. 9694 07941 06941 9794 4- %
;r Mar.. 23 23 94 2294! 23% + \
Mar pf. 8194 8294 81% 8294 4- %
I'kel .... 17 177, 16% 17% 4- 7,
per .... 49V4 61% 49%, AO94 4- 1%
pf etprt. 67% 6794 67% 67% + %
It.le Oil. 17% 17 94 1 794 17% + %
roducIii. 30 32% I 30% 32 +1%
Oil & T. 194! 1941 1% 194 ? %
Tea ... SOU! 21 20% 21 + %
Tea pf.. 69% 7194] 60% 71% + 2%
Bros T. 42% 42% 42% 42% + %
h & Oulf 5 r.% 4% A
'ity- So.. 26% 27% 26% 27% + %
So pf.. A7 F.7 67 67 ? %
(.!)& Co 43% 41 43 43 + %
1st pf. 108 103 103 1103
rtpr Tin ! 60 60%' 49%' 60% f %
r 8 po pf 107 110794' 107 i 107 % : 6* %
ott .... 32%; 83%I 32% 33 + %
iro A n.l 21%' 33% 21% 2194 H- %
i S H.... 180 139 180 139 + 1
<teel ... 73 ) 7X94 7196 72%J+1294
a (Jas.. 8194 82 79 70 ? 1
: & \V pf 33%] 8 3 94 3 3 % 3394 f %
lib & T.. 3.3%I 38% 33% 33% f %
i Vnl. .. 61 61% 61 61% + %
I.OCO.... 108% 100% 108% 100 94 + 2%
Tnc 10 I 16 15741 16 ? %
SATURDAY, MAY 13
CHANGE QUOTi
AY 12, 1922.
Year to date
V?-1922.??I r-CUt*Ing.-, | fijvTi ' p"
HIgli.| I.ow. I Bid. | Ask. Iti.g-l Salea J
14% | 9 j 12 | 13%! lj 3iJ0|I^oft
159% |147% 159 jl5l ; 12 600|Lorli:
53 25%! 47% 43 %1 .. 700 Mack
93 72. ; 92Vg 92%! g lOOj.Mach
55% 43 j 50% 50%| 7! 700 Man
08 41 I 56% 57 ] 4; 500 Man
43% 32 ! 39% I 40%. 1%i 4011 Man
32 i 5%j 23 25% 300;Mktl
07 | 35 | 60% 62 6, 1200 Mkt 1
34 20% j 31 31% 2 400jMurt
26% 5% 19% 21 .. 100 Marll
3174 22%: 31% 31% .. 2700 Marli
10*M. / - VSs I l-"M
22% 11 i 22% 221* 12300- Max*
21% 13%; 17%! 18 1 300 Mem
135% 106% 130% 130% 12 23200jM'<
30 25%! 23% I 28% 2| 200'Minn
16 , 11% 14% j 11% 1.20 CttOOiMKl
30 i 27%! 38% 38% ..I 238001Mldv
14%' 5 1 12% 13 .. lOOOjM &
12 % % j 11 11% .. 1100' Mo.
13% 7%' 17% 17% ,. 2500]Mo, I
43% 24%| 30 30% .. 300 M, K
25% 16 23 23% .. 1200 Mo I
50% 43% 55% .. 1000'Mo 1
74 63 71 72 3 300 i Mont
22% 12 21 % j 21% ..) 3300!Mont
34 j 19% 30% i 30% .. 100|MuUi
157 i 123% 115 '148 7 100|Nat
121%:il3%;il9%!ilD% 7 300! Nat 1
43% | 30% i 4 0 Vl i 40%' .. 15001 Not 1
04% I 85 I 92%: 93 | ? 800 j Nat 1
113%;i08 110 1 111 I 7! 10" i Nat 1
ti%l 3 ! 5% I 5%j .. 100 N 1111
18% 13%| 16%! 16%' I 500. Ne* a
69 j 54% 65% I 66 ! 6 10o)N Or
80 57 176 77 | ..I 100 X V
92%: 72% i 89 89% I 5 240': X Y i
69% I 51% 68%' C9%' 51 400'NY. C
35% 28 34% 34% 2% 800 X Y
f 30%! 12% 29 29%' .. 5700:X Y,
I 30%! 19% 27 27% | 2 100. NY,
108 1 96% 105% 105%' 7 400'Xorf
60%I 44% 57% 58 1 X5] 500'Nor
43%i 38 43 43% 3 100'Nor ,
8% 3% 7% 8 ..] BOO! Nor >
82% 74% 75% 75% 5 3500'Nortl
14% I 11 12% 12% ., 700jOhlo
3%] 2% 2%; 3 .. 16001 Ok la
9%! 4% 8| 8% .. 100 Out S
21%! 12% 20 I 20% ..! 200|Orphi
143% (116 137 ! 138 81 200|0tis
97% I 93 97 | 99 C lOOjOtls
l'i'/fel is>v?j !? }* ..| obU'i;<?us
as | 24% 85% 3H 21 SOOIOwi'D
14%| 6% I 9% 10% .. 1500! Pacifl
78%i 62% 69%! 69% 5 1400!Pac (
69% 44%I 64%! 65% S| 19300!Paclf
66% 58%! 63% [ 64 61 2800!Pan
59% 44 57 ! 57% 6l 1100!Pan.4
43 33*41 40% 41 2 1600!Penri
12% 6%I 11%I 12 ..I 368001 Penn
88 59%! 85% | 86 5| 200|Peop]
32%! 1.9 30%! 31 ..I 9001 Pero
76%! 63 75%! 76 5] 100 P Mi
40% 31% 38% 38% 3! 100 P*il
45% 28% 42% 43 2 3100;Phill
24% 13% 19% 20% .. 9900! Plerc
49 ' 27% 40% I 40% .. 47001 Pierc
12 | 7 10% 11 .. 3600| Pierc
71 I 39 58 59 .. 100,Pierc
65% 58%! 63 63% 5 300!Pitts
79% 66%! 77 77% gl 1400 Post i
109 105% |107% 108 8| 500 j Post i
36%! 23 I 35 35% .. 2400lpittd
23% I 14%! 20% 21 1% 400!Pond
83%' 63 ! 78% 80 .. 500 Presi
39%! 24 1 36% 37 .. 3300lProd
91 66 ! 86% j 86% 6 lOOlPuh
129% 105% 121% 122 Si 1900 Pullr
43%' 30% 39% 40 ..I 600 Punt
38% 29%| 33% 33% 2l 4200 Pure
102%! 99 102 102%' 8J 200 Pure
103%' 94 ! 99% 102 i 8i 100 Rai
17 I 13% 16 16%: . .' 18001 Pay
80% 71%' 77% 77%! 4 2800lRead
48%J 43 j 44% 45 ! 2' 100]Read
51% I 45% 46% 47%[ 2 100 Read
42 2 4 I 31 33 . .1 200lRem
41 I 25% 33% 33%' .. 9900 Repl<
9% 4% I X I S%! .. 200',Rep
68% 46.% ! 6K % I 68% ! ..! 24700 Rep
94 71 90 90%! .. 1000 Rep
48% 43 ! 46 46% i 3 2600|Reyr
21 8% 17% 19 I ,.| 100'Robe
66% 47%: 63% 63% 5.20 3800[Roya
16% 12%) 14% 15 ! 1| 1001 St J,
31% 20%: 9., j 29 % I .. 2100 Ht U
32%! 20%' 28%| 29 I ..I 1300'St Pi
49 i 32%! 46 I 46% ( ..| 700lSt L<
6%j 1%) 3%) 4 j 200'San <
4* V# H V* I 1U "8 ' IV nI .. 1UU fluva)
4%! 1%! 3 | 3%' ..| 200'Haxoi
10 I 2% | 6%' 7 | ..| 400|floab
14"i 3m 10%| 11 ! ,.| ISOOlSeab
77%! r.9%1 73%! 74% ..I 1900!.Sear?
23% 10%! 13 ! 1B% ..I 1100jSene<
34% 18% I 31% I 32 ..I 16500 Sincl,
49% I 34%' 49% | 50 | .. 9200'Hloss
57% j 43 j 4.7 47 100 Ho 1?
93% 1 78 %! 90% i 90% 6 4900 So H
25% I 17% I 24 i 24%! ..1 39991 So Hi
f?#%H45% 56%; 56%! ..I HOO'So R
19%! 17 ! 18%! 18% 2100'Spioc
139 1114 1124 1126 j 8' 100?tan<!
49%' 45%| 49% 49 2%| 300 Sterll
198 1169 186%! 188 % 6! 700 S(anc
118% 118% 115% 115%l 7! 900'St Ol
121 I 91%;il2%!n3%' 4 5500!st Oi
85 I 68 | 81 | 84%' 7| 100;Stee1
42% 24% 40 ! 40%! 3| 1600 Htew
59% 85% 53 : 53% .. 1200'Stron
124% 79% ; 117% illS 7 34200!Stnde
7 3% 4%! ? ..I 500'Subm
S% 4% I 7%! 7% I ..I 000 Super
w.'Vfcl ;:*> of> on ^3 . . HUU fllipei
r. i 3% 3 %1 S% ..I lOOlSwecl
12% 9%! 11%! 11 Hi ' 900|T?nn
50%| 42 I '17%! 4X | 3| 7600 Texa;
46*4 ' 88%I 44% 44% !f21 a lOOiTfxas
31% 28 j 29% I 29 V 1 6900 Tox 1
30 24%; 32 I 32%' 700 Texa;
26% 14 I 22%' 23% .. 300 Third
71% 67% 6H 0S%! JG; 4100 Tob
37% 15 37 1 3H I ..! SOOlT.bTJ
46 37 45% | 47 .. 500.T.SU
14 7? 7% 14% 14%! .J 60900 Tran.<
4H%| 32% 43 | 43% I 2! 800!Tr &
24 I 17%' 22% 22% j .. 11100 T'nlor
140% 125 1137%! 138 i 10 2900|i;nioi
70%; 71%! 73% I 74 4 100 Unlor
39 j 25 38%! 39 ..! 4500iTTnit#*
73% I 60% 09 72 . .! 400 Cn L
46% ! 41%' 45 ! 45% 3% j 200 / IT Dr
148 j 119% ' 139% ! 141 i 8 100 1'TlitP
19%' 7%! 15% 16 : 900 I'll n
58 43% 57% 68 i 88700 Cn T
38% I 10%! 35%! 36 ? ..! 5200 1' H i
70 I 50 : 07 I 09 i 5' 200 ITgCI
10% 2% 4% I 5 I .. 500 ir H
51% 37 48% 49%t?.. 1600 IT S 1
0974 55%! 07%! 08 I .. 1400 U S J
67% 51%| OS % G4 .. 3400 IT M 1
100 99 1104 ',4 ' 104% 8 100! 17 S I
42 32% 40 41 . . 800;TJ S i
100% 82 I 98% 99 5 24100[tT H
120 114%lll8 118% 7 300(U S
08 60% 64% 65 2 1400|l*t?h
19% 974 17 17% .. OOO'Utnh
48% 30% 48% 48% .. 22400|Vanm
96 90 94 90% 7 100l\'anR
30% 27% 32 32% .. 2000!Va-Ci
82 67 74% 75 .. 2000, Va-O
94% 43 54% 54% .. 1900|Va Tr
72%) 66 1 70% I 72 6 lOOiVa Ir
14 6%! V8%: 13% .. leoojvivai
11% 0 10%! H .. 1600 VV'aha
31% 19%; 80% | 31 .. 2100; Waba
17 10*4! 14%. 15 1 2 001IV cb
12 8%, 10%1 10% .. 1000! West
24% 13V 21%: 22 1 1000 Wff.lt
99%" 89 I 97%J 98%; 7 ..IWcst
61 49%! 62 62% ( 4 2400'Wplll
27 1 29 ! 2:.U' ITiUl 21 "OO'Whit.
13 ? 11 '41 11*4 .. ?00|wheo
34 11441 21441 2lfi .. aoolwhl ,
50 351/M 47% I 48 4 300 Wliit.
11% 7V4 10*4 10% 400! Whit.
21% 13 20% 20% .. 15100i Wick
4% 7% 8 .. 1300] Willy
44V4 24 88% 30 .. lOOlWIUy
49% 27% 45% 47 .. 1900iWll?O
85 ; 60 85 90 7 100 Wi I so
120 117 120 124 7 18001 Wool'
54% 437? 50 1 52 4 '190 Wortl
9%! ?v4 I 9 l! 200, Wripl
Kx rllv. tKxrljrht*. Jlnwrip. x
N'OTIO ryi.l lot transaction* are n<
were made at price outside of the ivjfi
FINANCIAL NOTES.
Kfhvln It. niKelow, ?||i> Into boon a .?oHaled
will. EHIlon n??rt k Co. Rod Its prodfreiiar,
Wrn. A. Tt'-ad ft Co., slum 1009.
Hr* boon appointed bond of Ibn municipal
bond riopartnmnt of Dillon, Itond ft Co., br
ot May 1.
Chcllla A. AiiRtlri, ttohoit Harbour, II. M
IbilMov, IV I, Cone HI, .?. A Plxon, C. It
KlllinU. I', r I H. pRtrlck, 11. h? B. c.nr.i
tier, 11. 1'aimly, G. P. I'opo and Alexander
, 1922. I
\tions7 !
1922. 1921. 1920. I
.. 98.288,160 66,439,597 106,546,428 ]
IOpen- | High-1 I.ow-1 CJoe-l Net
I inn- i i?ft. I e?t. I ti>n IQb'wf. I
lnc | 13 %| 13% I 13 I 13 ? % (
lard P...149 ,150 'l48%.150 -I- 2
; Tr Inc. 4644 47% "4?%j 47% + 1
,.iy Cos.. 92% 98% 92% 92% ? % ,
KIov ffuar 50V*! 50%; 50 [ 50% + % 1
Kleo Sup. 56%' 56%: 66 i 56 .. '
Shirt.... 40 40 . 29% 39% + % 1
St fty 2 pf! 23 I 23%| 23 j 23% .. j ,
St K pr pf 60% , 61% 6o% 61% 4- % j |
-l'arry .. 30% 31 30%! 31 + % j
in Hock... 20 20 20 20 ;
and Oil.. 81%| 31% 31% 31% 4---% 1
veil Mo A. 66% I 72% 68% 72% -r 3% ;
vol! Mo 13. 20% 22% 20% 22% -f 2%
tyre !1'or. 17% IS I 17% IS 4- 2%
Pet 129 130% 127%ll30% + 2 !
.< rv.nr.n- < I 5Sli! "8 I 28Vi. 4- %
St a" Oil... 14 % 14 % 14% 14Vi 4- % . ;
n!<j St Jc <J 37% 38% 3tf% 33% + '2 .
St I. now, 12 I 32%' 11%; 12% +
Kun & !'. ? 11 11 I U
K ^ T vv I 17% 17%| 17% 17% .. |
iz T ?>i w> 39 i 38% j 39 | .29 ? % i
'acifle 23 I 23 22% 23 ? %
'ur pf.... 66% i ?> ''%; 65 55% .. j
Power.'. 70% I 73 I 70% 72 + 1 j
. W & Co, 2 Mil 31% | 20% 21% .. |
ns Body..! 30%j 3i?%l 30% 30%. + %
Biscuit. . ,jl45%|l45%jll5% 145% ? %
Hi. souIt iJf.fNO ISO 119%:119%!? % ,
ESnata Si 3!'% 40% 39%! 40% -r 1% j
,eud I 82% 92%l 82%: 92% + %
i.oad pf,..|llo no llo ;110 .. i
L of M 2 pi 6%: 5Vi 5% ?% .. |
da Con C.I 16% 16% 1?%|10% ..
1. T & I'.j 65% I 65% 65% | 66% ? %
Air Brake' 76 | 76 76 I 76 .. |
- '-mi !. . .1 88%! 89% hi* j? % I
,'hi & St L! 69 | 69 I 68%I 68%!? %
Dock 1 34%| 35 I 34%l 31%'+ 1
N H & H, 29% 29%; 28% 29% i ..
Ont & W.l 26%! 26%! 26% 26%!+ %
& West.. 105% 105% 105% 105%! .. I
Amer Co..; 57%' 57%t 57% 57% .. {
\m Co pf. 43%I 43%! 43% 43% + %
Im Co rtsl 7% | 7% I 7% 7% I .. j
i Pacific.. 75%! 75%| 74% 75%|+ % ;
iB&IJ Co. 11%| 12 10% 12 H- %!
P & Rcf. 3 13(2% 3 + % 1
in... o I a i c I a V. ' 1
sum Circ. 20 20 I 20 20 ? 14
Elev 130 137 1130 137 1+ 1
Kiev pf... 97?4 ?7'4 9714 9714!+ 2
Hteel 14% 15% 14 15 + 1
s Bottle.. 35% 35% 35% 35%+ %
Ic Devel... 9% 10 9% 10 + %
las & EI.. G9%l 70 69 69% ? %
Ic Oil .... 64% 65% 63% 64%l + %
Am P&T 62% 63% 62% 63% I + %
,n? P&T B 5614 57 55V* 57 1+ IV* I
H ft | 40% 40% 40% 40%!? % !
Seah Stl.l 11 12%! 10% 12 + 1% |
li'O (las...| 80 86 | 80 | 80 + %
Marq 30% 31 j 30%| 30%!? %
irq pr pf. 75 75 ; 75 i 75 '
Co 38% 38% 38%' 38% + % I
ips Pet... 42% 43% 42%! 43 + % 1
O Arrow. 20% 21 : 19%| 20%? % .
eArpf... 41% 42 38% 40% ? 2% '
e Oil 10% 11 10% 11 + %
:o Oil pf.. 59 59 59 59 +1
Coal 03 0314 63 63 .. 1
am Cereal 70% 77% 76% 77% + 1
am C pf.. 107% 108 107%!108 + % 1
& W Va. 34 35% 34 1 35% + 1% I
I Or Coal. 2014 20% 2014 20% + 1% I
3 Kteel Co. 79 79 78 79 + 2%!
uc & Rcf. 37 37% 36% 37 + %
Sorv NJ. 87 87 87 87 + %
nan 112014 122%!l20 121% + 2% j
a A1 Sug. 38% 40 I 38% 40 + 1% |
Oil 32% 33%' 32 33% + 1%
Oil 101% 101 % ! 101 % J101 % + 14 j
eel Kpr. 100 100 100 100 + % j
Co a Cop. 10 16% 15% 16 .. j
Ing 77 77%I 76% 77% + % |
lug 1st pf 44% 44% 41%' 44% ? % ,
inv? 2<i jif. 47 | 47 | 47 I 47 | + 74 !j
Typcwr. 32 ,33 33 33 ? 174 ' i
Tglc at!.. 317-41 33 74 3 1 74 33-14'+ U <
Mot Tr. 1. f> j 8 8 i 8 ]
Ir & S... 66%: 68% 6474 68% + 2
Ir & S pf. 90% 90% 90 00 ? 1 I
ioldw T B. 45% 4674 4 6 74 4 6 74 + 1
rt Rem... 18% 18% 18%! 18% ? 74
1 Dut N Y! 62 74' 61% 68 74 1 6374 + %
js L*ad... 14% I 14%! ]4% 14% + 74
0 & .S F.. 28% 20%; 28% 20 + %
ouisSwn..! 20 I 2074 2874[ 28%? %
} 8wn pf..| 46 I 46%! 46 467* ? % I
3ec SuRttr! 4 14; 374| 374, ? % ;
<e Arms.! 20% 20%; 20%| 20% +1% 1
1 Motor..! 3 | 3% 3 I 3%'+ %
AirTdne.t 7 1 7 6741 674'+ % 1
Air 1, pf. 10741 10% 107+ 10%. + % j.
! Roeburk! 74%| 74% 73%' 78%!? 1
-a Vop... 1274 1 374 1 2%! 13 1 ..
air ('opr. 32 j 32% 31% 3174 + %
a S & 1.1 45 I 40% 44 40% + 5%
R Sugar! 45 I 45 ' 45 45
ariflo 00%' 00%! 00 90%I + 74
lilwny ...! 23741 24 I 23% 24 + %
ail way pf 56 I 56%! 56 ' 56% j
r Mfg Co' 18%' 18;+ 18%! 18% + 74
I Mill liar. 125 i 125 125 + 3
ng 1 "rod.1 49 1 40 1 40 ( 49 i+ %
I (ill N J. 185 188% 185 1 8874 + 1*4
1 N J Pf.. 115% 115% 11674 116% + %
I of Cal.. 110%jll4% 110% 11874 + 1%
& Tube pf 84 | 84 84 84 ? %
War Spd 38%! 40 38%! 40 1+1%
lljrrg Car 52 ' 53% 51% 53% + 1%
rmnor n?Mi ui'.viiD + '
ar Boat.. 5 I 5 ! 4?i j 4*4'? % '
lor Oil...; 7% 7% 7 % "%< + 'J I
lor Steel.i 3.". 36%' 35 i 36%14- 2% 1
t.s Co Am 3% 3%! 3% 3%! .. ]
Cop & C.j 11%' 11%! 11% 11741
h f *0 . . .. 47 45 . 46% 48 14Gulf
Sull 42%: 42% 42%! 42% 4- %
an C ft O 29% 25)%! 23% J 29 ' + %
* ft Cue..! 32 32 ; 31% 32 .. 1
Ave ...j 22% 23% 22%: 23% + % 1
Products.! 67% 687, 67%' 68% 4- 1% '
few cfs B 37 I 87% I 87 ! 37% [ 4- 1% '
feW pf cB' 46 1 46 j 46 46 + % 1
icon Oil..; 1374 1 4%: 13%! 1474' + 1%
Wms St.! 42% 43 j 42%! 43 14- 2%
i Oil ! 22 ! 22%! 21% 22% 4- % '
1 Pacific. '137%'13774! 137 ,137% 4- 1% !
l l'ac pf.| 74 1 74 74 i 74 ? %
d All St.' 36 1 3974 36, 39 4- 3
)rug Co.. | 7174! 72 71 % 72 4- 3%
ug 1st pf. 45 I 45% 45 45% ? %
d Fruit.. 138% 188% {138% 138% ? 3
:y Invest.! 15% 15%! 13% 15% 4- %
tntall St..) 55% 58 | 55%! 58 4- 3%:
'I P4F 33% 86% 88%! 3574 4- 2% I
PftF pf.. 69 69 ! 69 69 14. 1%
Pood Prod 47* 5 ! 4% 5 4- %!
Ind Alco.. 48 ! 49% I 477* 49% + 174
it A- Imp.. 67% 677* 667). 67% ? %
Itubber... 6374 I 64 ' 63 63%l + %
tub 1st pf 1M% 103% 103% 103% ? 1%
4. 11 ft M. 89 74 39%! 39% 89% 4- %
Steel ! OS ' 98% 97% 9S74 4- 1%
Steel pf.. 1118% 118 74 '118 Ills ? %
Copper.. 64% 65 >4 64 64% ? %
See 17 17% 17 17%+ %
Hum .... 47% 4S7? 46% 48%+ %!
Aalto 1 pf 95 95 95 95 ? 1
irOhem.. 33% 33% 31% .32 ?1%
*r Ch pf. 7771 "7% 77%-i 74%l? 2% !
. 4'AC... 54% 58% 54% 58% +"4%
, C&Cpf 71 % 71% 71%! 71%!+ %
dou 13%! 13% 13%! 13%!? %
iHii io%; 1074 1074! 10% ? 741
iflh pf A.. 30%| 307?I 30%! 30V + %
A ITcllb... 15 ! 15 I 14%' 14% .. j
Marvld.. j 10% 10%! 10% i 10%!+' 74
Pacific.. 20%! 21%' 20 %: 2I74 - %
TTh 'IV1 a7Jt. 1 n??r ' ft"9 t nil 1
. .. .'(-4 i'c-4 r "i
nu 1S&M 82% 82%! 61% 62% + % '
; Ka*l?> O 25 25% 26 25%! .. }
i .St r. b.. u nv n u%i + %
*T,Kpf. 21 Sim 31 21H ? V4 1
1 Motor... 47 47'., I 47 47% + % 1
3 on io in% io 10% + 14
Spon St.. lft % 2114 1*% 20*41 + 2%
s Over..Tt ft X 7% 7%, ..
? Over pf 18)4 *8% 38% 8S%|? 14
n * Co.. 44 I 48% 44 45% + 1% ;
n & Co pf *5 I g5 85 Xn
worth pf. 120 ' 120 120 120 + 3 1
It Pump.. 51 i 61 51 ?l + 14 ,
lit A to. . 8161 814 8% 8% ..
Part stock, e In stork. fl'art extra,
>f recorded In separate lino unless sales | '
ilar lot rang*.
P unit Jam** P. Snpar hurl b?en alectefl >
| ill tors nf tit* Befety Car Heating ant.
' Righting Co.
t'eaeet, Nun"* * Co., memh"r* nf the Jfee
I York Shook Esehatnte. hot* I??ue8 for rtl
trlbntlon a review of the Republic of Ureill'"
external* franc loan*.
rF.NNS4I.VAMA OH,.
I Oil. rtTV. Pa . May 12.-Oa?1|t balance*. S
f.i Run . vn.T'ul; nverasr, i.i/ni ahln I
r PT, av?raa-. r.t.Jts, 1
\
\
TOPICS OF WALL STREET.
Pool* Tukeu I nanarei.
Pool operators were taken as much
Uy surprise as were other trailers In
the stock market and as a result were
tardly prepared yesterday morning for
the sharp toadjus tin rot In market conditions
When the reaction of Jlmday
ran into the next day and again Into
Wednesday those operators became convinced
that the market was due for a
sharp crack and therefore made plans
and placed orders accordingly. As a result
of tBa unexpected upturn of Thursriuy
afternoon and yesterday thej
found their market getting away front
them and had to do almost as much
[ crumbling as did the shorts to regaii
control of their particular favorites
Pools have been working In nearly al
Independent steel stocks In the last few
weeks and as a result of yesterday's
his move In those shares, the groupi
found themselves in a very comfortable
position.
Pierce Arrow Merger Off.
Speculators In Pierce Arrow shares
fame in for a big: share of disappoint,
ment yesterday when announccineni
that the proposed merger between thai
fompany and the Ixifa yette Motors
Corporation had been abandoned be:ause
of failure to agree on terms was
made. Those speculators bought the
:ommon and preferred shares of l'ierct
Arrow in the last three or four weeks
iollowlng announcement that the merest
leal was on, and sat back comfortably
to await the profit that they felt surt
would be theirs alien the terms should
je announced. Imagine, therefore, theh
discomfiture yesterday when It was
announced that the dea! was off. There
ivas heavy selling of the common and
preferred stocks of Pierce Arrow and
the latter declined more than 4 points
to 38H. recovering before the close tc
K/U. Officials and bankers Identified
r "h the company declined to discuss
abandonment of tho merger plan.
Idle Cars Dcclisir Slightly.
Freight cars idle on account of busitess
conditions were 029,058 on April 30,
i decrease of 226 compared with the
lumber reported a week previous. Of
:he total 371,038 were surplus cars In
;ood condition and the remaining 158,120
ttood In need of repairs. Surplus coal
;ara Increased 5,185 to 235,077. Idle coke
:ars increased 5,185. That losses in coal
tonnage, however, are being offset to
in extent by increased movement in
jther commodities was indicated by decreases
In the number of surplus stock,
jox and miscellaneous freight cars.
March Ha II road Enrtiliifrs.
The March, reports of 186 class I railroads
and fifteen switching and terminal
companies showed an aggregate
net operating income of $83,511,108 saved
out of gross operating revenues of $471.SCO,620.
in contrast to $80,807,065 in nol
ond $159,048,326 hi gross for March, 1921
Clross operating receipts in the firsl
quarter of this year were $1,271,531,383
in contrast to $1,336,329,819 In the cor
responding period of 1921. Net railwaj
operating lncomo in the former \va:
*160,999,429, contrasted with $27,574, Of
earned in the first three months of 1821
Copper Shnres Advance.
There was renewed activity anc
strength in the copper stocks yesterday
reflecting the continued Improvcmen
md tho constantly brightening outlooli
tor that industry. The copper list waled
yesterday by Granby Consolidated
In which unusually Heavy buying order!
ivppeared, resulting in an advance ol
more than 3 points. Granby is constructing
a new water powerVlam wide1
officials say will permit the use ol
hydro electric power the year around It
I lie company's operations and save JJJiO..
IMX) to $200,000 annually in operatint
costs. It will aid materially In ellminat
i,,? to /wi/uiA ? r i ? *
Ml* ?..,WV,W.> ui lunua nil a.veiu?t
Interest rate of 6 3 per cent., whlcl
the company is paying' on borrowe<
capital. Utah Copper did not follow
the others, but Greene Cananea got ui
ii full point to 31% and Inspiration sob
above 40. All signs continue to poin
toward further improvement in the cop
per Industry and copper men aro exceedingly
optimistic as to the immediate
future of the industry.
Culm Cnne Sugar.
Notwithstanding its late start thf
year the Cuba Cane Sugar Cornerslion's
production to date exceeds X00O.XX)
bags. Up to May !>. according to reports
obtained yesterday, the production
totaled about 3,066,ftl0 bags, in contrast
to 3,673,754 up to May 17 in th?
previous season, Two of the corpora
tion's estates, the Socorro and th<
Santa Gertrudis, have completed grindng
with a total output of about 176.*X>
and 136,000 bags, respectively. Uasi
year Socorro turned out 304,107 bags and
Santa Gertrudis 306,863 bags. In the
ivestern part of the island the crops are
tinning behind those of last season, as
ndlOatfd by the two estates, but in
the eastern section production is beini
kept up well.
J. C. Penney April Sales.
The J. C. Penney Company's salei
In April were $3,042,629, in contrast t?
13,726,325 in April, 1021. In the first fotn
nonths its sales were $ll,60f?.S<>>, in contrast
to $12,040,713 in the corrospontilnif
period of 1K1.
Munrjr Hosier.
The money market continued to re"lect
the large increase in funds thai
lave come In from Interior banks, and
tall and time money was plentiful. Ca!
noney opened and renewed at 3** pn
;ent. and then declined to 3V4. The
ipenlng rate was tho lowest since Apri
W. Brokers did not appear inclined
o bid morn than 4 per cent, for tlmr
noney, and a few thirty day loans
vcro arranged at that rate. Plenty o(
noney for longer maturities wa:
>ffered at 4Vi.
I'alil \o Cash for n?ari?.
The Chicago, Milwaukee and ft.
Paul's acquisition of the Chicago. Terre
ftautn and Southeastern and the Chisago,
Milwaukee and Gary railroads Involved
no cash payments, according to
id vices received from Chicago yesterlay.
The St. Paul agreed to guaran,eu
the Interest on the Terre Hautc'a
jutstnnding bonds, and In tho case of
he Gary road will mAko no cash exnenrllturo
for two years, but there.
ifter will guarantee the Interest on it>ond*.
Tho Term J Initio gives the St.
*3ill all adequate supply of coal, the
'relght charges on which wore U.'iOn,i(io
to $4,000,0(0 annually before th*' conrol
of the Terre llnuto was obtained
tcqulnlttoii of tiie Clary line gives the
<t. I'aul valuable trarka*? rights ami
onnections, which will reduce by two
>r moro days tho delay In getting toniace
through the ChlcaKO gateway.
DEFICIT INCREASED I* 1021.
Tha Steel and Tubo Company oi
America reports for 1021 a loaa of $2 671..
L"3 after taxes, interest, depreciation
ind shrinkage of oro inventories In
ontrast to a net Inoomo of $f>.$16.2flp In
030. The deficit w-aa Increased to $4,742,'IM
after rayment of Its common and
"referred stock dividends. According to
he hatanoo sheet, accounts and notes
eeelvable were reduced hy $10,174 to
Mtft.fAl and inventories dropped $7,133,>i<*
to $!" 2I7.SM.
COFFEE.
Pr?v
open. High. Lew. Close. Clo?e
ta ,. to.rtft to.js in.se m.sr
ul> 10.20 J0.20 1"20 JO.Jt lo.tli
leplemN i . . t? ft* '' 7.1 0 Its 0 7il 0 71
>cemher ... 0.4fl P.:>* n irt r>.:,7 o f.,1
dar'-h l? I". P.45 o I , v it) > ir
t
15
ii untington Jackson &
Railroad
Bonds
5 j
'' j
43 Exchange Place
New York
11
UNION PACIFIC NET
HAS SLIGHT DECLINE
!
5 j ' J 7
[: Revenue Freight Hauled Is
1 Less Because of Change in
Some Routing.
The twenty-fifth annual rep^jt of fee
j r.Viioii Pacific Railroad Company, cor;
ering operations In 1331, shows net 1ni!
como of $.'11,301,074 from all gourres.
equal after preferred dividends and
sinking fund requirements to $12.29 a
share on its $222,291,600 outstanding
common stock, compared with final netincome
of $32,674,231 or $12.90 a shajte
earned on the common in 1920.
I Ita income account for 1921, after
, excluding all offsetting accounts between
the l.'nlon Pacific, Oregon Short
Line and Oregon-Washington Itallrond
j and Navigation companies, compared as
| follows with that of the preceding year:
Gross operating
1021 1920
I ' revenues $191,443,913 t$175,260.9?7
I Government coin"
pcnsHtlon *7.096,453
t Operating expenses 131.601,748 1135,803.24.4.
Thxe* 11,720,835 110,734,015
i Net Incomo from
HR. pror. 34.226,107 35.902,262
Income from in\estnients
13,138,096 1J.2W.W1
T-'lxed charges 16,003,181 15,586,937
. Net Income nil
1 sources 31,301.074 32.074,281
' Rfd. dividends 8,961,740 3.981,740
Common dividends 22,229,100 22,229,160
Sinking fund 10.173 10,877
durpln* j. .1.080,001 fl.452.4S1
for two months. tFor ten months,
i Judge I-tobort S. Lovett, chairman of
. the company's hoard, assigned the ret
i turn to former channels of certain long;
j haul traffic which the Union Pacific,
i enjoyed from 1916 to 1920 as one reason
, lor a decline of 90.9 per cent, in Urn
i i t ct ton miles of revenue freight hauled
r in 1921 which drove freight revenue
. | ('.own $17,310,669, or 11.5 per cent. Tn
I . . ??>?. 11 ill. ?< Villi* ou IMVPI'U t VlO r A3 i'1
r tils? Buffered a heavy traffic shrinkage
i in 1931 on account of the general busd
r.ess recession.
5 Judge Ix>vctt raid the increase in thV
- company's inoome from investments and
i miscellaneous income "was duo princii
pally to dividend received from tli"
I Pacific Fruit Express Company, which'
f did not pay a dividend in 1330, and to
i interest received on bonds of the Lgi's
1 Angeles and SaUT>ake Railroad Company
t required in exchange for bonds of the
Oregon-Washington Railroad and Nevf
gallon Company. Investment securities
l were purchased during the year to re*
place those which matured and to make
up shortage in reinvestment of funds
received from investment securities tliat%
. matured during 3313 and 1330. The now'
investments bear higher interest rale.*
' than the matured Investments (average
current yield on new investments tf.37
\ rer cent., while on matured investments
the average was 4.S3 per cent.) and the
' annual income will bo greater, but th.e
| entire increase is not reflected In the
[ income for this year."
During 1931 the Union Pacific reached
a settlement with the Railroad Administration
of accounts arising out of Fed.
oral control under which the company1
received $s,00t>000. Its stockholders
, I rumboreri v?,V6 on March 12, an mt
i crease of 14*.8 p^r cent, over the numi
J Iter ten years ago.
MITTAI, Oil, PROSPKRS.
1 Although its refineries were cl?Md
during largo part of the first half of
1921, the Mutual Oil Company reports
' a, profit of $1.237.889 for the year. The
company's current assets were $3,389.877,
of which $788,118 was cash an'f
' $877,397 accounts receivable.
WRIGHT AER05AITICAL.
Tht Wright Aeronautical Corporation
for the quarter ended with March 31 re~
' ports net earnings after taxes In tho
amount of $173,178.71, which Includes,
1 In addition to operating profits, Income
1 j from Investments, &c.
rrSTOM HOC9K HECE1PT8.
I i Receiptn for duties st th? Custom Routs
1 I -torosy were $n*2.479 s?. or which $! ' ,778.30
was for nicreliandlee withdrawn from
bonded warehouses and $777.70.'; 25 for re cnt
, i Importations.
SHORT TERM NOTES.
Roto. Due. RM. A?k?d.
AlutnCo.of.Vm . .7 Nov. 1029 in.H< n.1'<
AlumCo ofAra . 7 Oct. 1931 10S'< 103 >?
AmCottonOll... .0 Sept. 3.21 98 9?\$
AmTelATel 8 Oct 1932 10011-18 100 13-lH
AmTelATel 8 Keh. 1024 101 K I'll 14
AmTbrewrt 8 Deo. 1028 101H 1)2
AmTobaero 7 Nor. 1921 103H 102
An^f nndafop.. .8 Jan. 1029 >011; 1 in,
Aca-ondaf'op . .7 Jan. 1929 10314 10?V?
AngAmOll.Ltd ..7H April 1*U 103W> 10AM
Armour, con v... .7 July IS.'.!) lot 111',
IIAORRcnll 8 April 1921 9914 lOOlf
HellTrloff 'an 7 April 1934 102W 103
IJMblohfniStl 7 July 15.'33 1MM 104 4
OanNorthernRy 5)4 Dec. IOJJ 100109M
CanNorthrrnRy.514 I)*?. !?l 100)4 10014
Oanl'mct Belly .A Mar. 3,'J* 101 ft U lilt '4
Cent Arrenline.. 0 Feb 1017 Ot'j 95
I ConaOaanfNY... 7 Dee. 1.33 101J4 10t4|
CopKxpAnND.Ino.S !*?!>. 15. 33 10114 103V4
CopExpAaaa.tnc.S Feb. 15.24 103?4 103
CopExpAs.w.tnc.5 Feb. 15.35 103 M 101'4
Cudalty Packing. 7 July 15. 23 101)4 1?? '?
FedrralSugKef.. .8 Nov. 1311 100 1? >4
TbeBF(lood.cnv.7 April 1933 99J4 10014
GulfOUCorp ? July 1923 100M 101 M
GuiroilCorp.....7 Feb. 1933 104 ?< 101 ?4
IIJHWnJ 7 Dec. 1930 104 lj 105
lIo<'kin(Vtlley.. .0 Mar. 1924 100 lOO'i
UumbleO&R... .7 Mar. 15.'33 101 <4 1011*
IHTconr Sept. 1933 93 ?4 93 H
i\ar<'ltyTerRy. .6 Nov. 13.23 101 UU),
Keenrcof tCep...7 1 eh. l?30 106"4 109'4
I aclcrirOI.I Aref. 7 Jan. *?30 99)i 100
I rut terAi 1 amble.7 Mar. 1923 101*4 102
f'ramRpeltuck... 7 Oct. 15/33 100)4 100*4
rearalioebuuk... 7 Oct. 13.33 101 10114
Colt ay. 3 Oct. 1927 I04H''191)4
f nut h west UeUT?17 April 1935 102', MJ 4
M'l Depottcuar. .9)4 Dec 13. "23 toy, lot
gtandOUNY 7 Jan.1035-31 lot 101
tandOUNY* 9)4 May 1?33 100 ?< 105-4
tiaifl 7 Oct, 16. '23 101', 101 V
(twin 7 Any. 15.'31 103', 102",
TheTeiaaCo 7 Mar. 1.33 1011, 101
1 I'tahbecCorp .. .9 Pept. 13. 23 100*4 100 W
YaruumOll 7 April 1939 10?X 107
WrrtKlerCo. fti 7 April 1935 107'4 10914
WlaF.dieCoronvO May 1934 V0'4 97'4

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