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The New York herald. [volume] (New York, N.Y.) 1920-1924, May 14, 1922, SECTION TWO, Image 30

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1922-05-14/ed-1/seq-30/

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' 8
Chilian
8% Cedulas
offer attractive possibilities
for profit through
the present depreciation
oi Chilian Exchange.
i i
Price on Application
j | !
i i
| abraham & Co.;
j .Ifembers New York Stock Exchange
27 William Street, New York
Telephone Broad 3785
i I
i 1
WE HAVE
ORDERS IN
American Laundry Machine
Carbon Steel (all if sues)
Dppn Fith*ri?c
Eastern Steel Common
Empire Steel & Iron
Tenn. Ry., Lt. & Power
United Gas & EI. (all issues)
KlELY & HORTON
40 Wbll St, NewYoifc
PHonca John oaso-siat
1
STOCK MANUAL
It contains over pages of
valuable condensed statistics
and Information relative
to stocks and bonds listed
on the leading exchanges in
United States and Canada.
If 1/011 cannot call, send for Booklet G-582
WILSON & CHARDON
Members Consolidated Stock Exch. of S.Y.
Broadway New York
j Teiepnon? Whitehall 1WH. |
n^-FRONT^^"!
I PROPERTIES I
fi Factories I
I and Factory Sites 1
I FLOYD S. CORBIN, Specialist I
ItcI.Mut. hu10273?300 Madiaon af* n. y I
RADIO SYNDICATE
Radio products are in demand. Radio
Factories are making money. I am Manager
for a Syndicate which is underwriting the
initial capital of a Radio Consolidation now
organizing. A limited number of application*
for investment in thia Radio Syndicate
will receive conaideration. Write box j
N644 Herald, 280 Broadway.
FINANCIAL NOTES.
__________
Mlllett. Roe & Hagen, members of the
New York Stock Kxchange, have prepared !
an analysis of the Illinois Central Railroad's
6 per cent, non-cumulative series .A preferred
stock.
The Registrar and Transfer Company has
been appointed transfer ajtent of the Houston
lighting and Power Company's preferred
stock.
The Lawyers Title and Trust Company has
been appointed transfer agent and the United
States Mortgage and Trust Company regis- .
trar of the Acton Oil Company.
U. s. CERTIFICATES AND NOTES.
Month. Frl. Appro*.
1022. r.C. Rid. Asked. Hid. Yield.
June.. 4'^ 1(10 1-32 100 3-32 100 1-32 3 03
June.. IIH loo 1-8 ino .VIA 100 1-8 3.13
Aug.... r.'-i 100 3-8 100 13-32 100 3-8 3.20
Sept... 4?t, 100 3-1,1 100 7-1 d 100 .VIA 3.22
Sept... 100 VIA 100 11-10 100 VIA 3.21
Oct.... 3V4 100 100 1-IA 100 3.31
r>cc ... 414 100 1-2 100 3-8 100 1-2 3.40
1023.
March 4t; |0O |-2 100 V8 100 1-2 3.47
M?, ... 4Ai 100.36 100.60 100.36 4.14
1024.
June.. 33; 102 1V16 103 1-6 102 1.V16 4.13
Sept... 5V4 102 7-8 103 1-16 102 7-8 4.12
I 1023.
March 4A* 101 1-4 101 3-8 101 1-4 4.22
1*2(1
March 4*4 101 3-4 101 7-8 101 3-4 4.21
Acceptable In payment of Federal taxes
ti the dates of maturity.
FOREIGN INTERNAL BONDS.
Loans not Issued in American dollar values.
Hate r>ate. r>ue. Hid. A?k.
Argentina funllstl. 3 Sept.. 1943 8214 8.7
BeU'lnn (restor's). 3 Option 1931 74 77
Tlrlrth Victory.... 4 Issued mill 20.1 40.1 1
Canada " March 1937 98'4 99'4
Canada ItUNov... 1924 97% 98%
Cahadrt Nov... 1934 9014 10(1 j
Colombia (I Ia?ued 1113 fit'i 70
Costa Rica 5 Issued 1111 r.9 (12
Krone)i victory 3 Option 1131 (1814 "9(4
French loan -1 Option 1943 97
French premium... 3 <914 1114
French loan (1 Option 1981 84 8.3'i
Italian war loan... 9 4914 41'4
Pelotas (HrartH .. 3 Issued 1911 37U F.8?,
TTru?uay 3 Issued 1919 74*4 7"ij
Bus R Rds F 4 A 8'4 Feb... 1928 414 ?
liuss routes 4 Issued 1894 9
MONEY MARKET.
SATURDAY, MAY 13.
Mlfth. Low. Nenew.
M4y 8 4 4 4 4
*?... 0 1 A A 1
May 1" ? 414 ? 4'd
May I' 4>. ai? 414 3V4|
May 15 3\ 3\ 814 3H
TIME M1ANS.
Mixed collateral. 60 to PO Bays. 414
Mixed collateral. 4 to fl months 414 1
Industrials. BO to 00 days 414?4'4
Industrials. 4 to ?l months 4140414 ;
tOMMKRCIAI. PAPER.
Beat names. 4 to < months 4x4
Other names, 4 to 0 months 414
HIMWJIT ItATE, RESERVE HANK. |
Comn.erclnl paper, *18 days, 4Vfc; 60 to 9U
dove, 414 ' I.lberty bonds and Victory notes, !
IS days, 414; Id to 00 days, 414; bankers^
acceptances, 13 to 00 days. 414.
Fixed November 3. Previous rats, S,
fixed Sopt'-mber 21.
OPEN MARKET RATES.
Call loans and acceptances 3V4H
Discount rates on prime bankers' acceptances
< llglble for purchase by Federal Reserve
banks:
ltld. Ask. Bid. Ask
Z9 davs 814 '1141 00 days 3>4 R?4
nT days 3'4 314(130 days 314 314
( TEARING HOUSE STATEMENT.
Clearing Mouse exchanges, 600,000;
balances, I66.POO.ORO; Federal Reserve credit
balances, ?47.100,000.
Stl.VRR MARKET.
Official bar silver Id Near York, domestic,
unchanged: foreign, 70l4e.. up V'.}
1,onilon. 35T4d., up Hd.: Mexican dollars.
6114c.. up He.
Bsngu of silver prices this ytar:
Highest. Dourest.
London M*d., April 10 3214d., Feb. 38
New York TOlkc.. May 13 &3%C? Fsb. M
FINANCIAL NEWS
AND COMMENT
Steels Again Center of Stock
Trading?Market Active
for Short Session.
Dealings In stocks were again concentrated
in the steel group yesterday and'
the sharp upbiddlng of numerous Issues
In no way related to known merger
plans, suggested that trade conditions
h?d rpaiimpri thpir rpcpnt functions as an
Incentive for speculation. Merger expectations,
however, continued to be the
chief support of buying and gains of
to more than 4 points were made by
Republic Iron and Steel. Mldvale and
several minor shares. The scale of
business was large for a Saturday, but
the fact that a rather narrow list was
dealt in prevented deductions about the
general character of trading. The surprising
steel merger developments occurred
last week in the midst of a fairly
broad reaction, serving to check liquidation
of speculative holdings without
making clear whether or not the rally
represented a true renewal of the spring
advance. A complete market picture
snouiu do possiDie tnia wee*, siuiuuku n
decision on the six company steel consolidation
19 likely to have a bearing on
steel stocks to the exclusion of Influences
of wider application.
The foreign exchanges did not get far
from Friday's base, the tone of allied
country rates being steadier than might
have been expected In view of tho stubborn
Insistence by French representatives
in the Genoa conference that they
would have no further dealings with
Russia without a complete change of the
Russian attitude toward private property
rights and debt obligations. The
silver market was enlivened by the advance
of the metal to a new high record
for this year at 70% cents an ounce.
As movements of silver are connected
with conditions of trade In the Far
East, the gradual price recovery of the
last two months Is worth saudy.
The rising tendency of stocks failed
to be communicated to cotton, quotations
leaving off little changed rrom me preceding
day's levels. Probably the Census
Bureau's report on consumption in April
had a deterrent effect on speculation,
the total of 446.843 running bales converted
into goods being 71.607 bales, or
nearly 14 per cent, less than were used
in March. The April figures, however,
displayed a large Increase compared
with those of April, 1921.
The New York Clearing House bank
statement indicated that loans had increased
substantially in the later days of
last week, but the expansion of demand
deposits, at the same time, ran far ahead
of loans, suggesting plainly that funds
continued to flow*to this city on a large
scale. The loan expansion in the report
of actual condition was 129,290,000, and
demand deposits gained no less than |
$59,616,000. As member bank reserves |
with the Reserve bank increasea more j
than 114,000,000, the excess reserve of !
the associated institutions was enlarged
by $0,169,000 compared with that of the
week before.
FOREIGN EXCHANGE.
SATURDAY, MAY 13. 1922.
GREAT BRITAIN.
Parity.
$4.8048 Sterling: Saturday. Friday. M?v 0.
Demand .. $4.44% $4.4414 $4.4414
Cables 4.4414 4.44% 4.44%
Bankers, 00 dys 4.41% 4.41% 4.41%
ankers. 90 dys 4.40% 4.40% 4.40%
THE CONTINENT.
19.30 France, cents a franc:
Demand 9.12% 9.10 9.15
Cables 9.13 9.10% 9.15%
19.30 Belgium, cents a franc:
Demand 8.32% 8.30 8.37%
Cables 8.33 8.30% 8.38
19.30 Switzerland, cents a franc:
Demand 19.24 19.27 19.30
Cables 1920 lv.kv
19.30 Italy, cents a lira:
?awind..6.2?% 5.23% 5:35%
2380 Demand"'. "T V%-34%
Cables 34% -34% -34%
20.80 Sweden, cents a krone:
Demand 23.02 23.03 2.j.80
Cables 23.07 23.70 2o.8o
26 80 Norway, cents a krone_
I >emand 18.00 18.03 18.0->
Cables 18.03 18.68 18.70
20.80 Denmark, cents a krone:
Demand 21.23 2]-2-'
Cables 21.30 21.30 21.30
19 30 C.reere, cents a drachma:
Demand 4.20 4.20 4.33
Cables 4.22 4.2- 4.57
19.30 Spain cents a peseta:
Demand 15.57 13.54 15.53
Cables .15.30 15.30 13.35
40.20 Holland, cents s florin:
Demand 38.02 38.00 38.35
Cables 38.07 38.05 38.40
51.40 Russia, cents a ruble:
100 rubles 07 .07 00V4
300 rubles 07% .07% .07
20.20 Austria, cents a crown:
Demand 01% .ni% .01%
Cables 01% .01% .0114
23.80 l'nland. cents a mark:
Demand 02% .02% -02%
Cables 03 .02% .03
20.30 Hunirary, cents a crown:
Demand 13 .12% .13
Cables 14 .14 .14
20.30 .Ihko Slavta, cents a crownDemand
30% .36% -87
Cables 38 .37% .38
19.30 I-Inland, cents a mark:
Demand 2.11 2.10 2.10
Cables 2 12 2.11 2.12
20.20 cserhn-Blovakla, cents a crown:
Demand ..... 1.94 1.93 1.93
Cables 1.93 1.94 1.94
19.50 Rumania, rents a leu:
Demand ..... .7014 .TO .70
Cables 7114 .71 .71
$4.40 Turkey, cent* a pound:
Demand 00.00 09.00 09.00
Cable* 71.60 71.00 72.00
FAR EAST.
109.32 Shanghai, cent* a tael:
Demand .....79.7." 79.25 79.25
Cable* 79.00 79.75 79.75
78.00 Hongkong, cents a Hollar:
Demand 57.fl2'4 57.3714 57.1214
Cable* 58.25 57.75 57.50
48.(91 Hombay, cent* a rupee:
Demand 29.25 29.25 28.50
Cabl"* 20.50 20.60 28.76
49.84 Yokohama, cent* a yen:
Demand 47.25 47.25 47.25
Cable* 47.50 47.50 47.50
SOTTil AMERICA.
32.44 Rio He Janeiro, cent* a mllrels:
Demand 14 00 13 94 14 0(1
Cables 14.00 14.00 14.1214
42.45 Bueno* Aire*, cents a peso:
Demand 30.(1214 30.3714 30.31
Cables 30.70 30.13 30.3714
103.42 Uruguay, cent* a dollar: ,
Demand 70 8714 79 8714 80.1214
Cable* 90 00 80.00 80.25
30.50 Chile, rent* a peso:
Demand 11.0214 1150 11.3714
Cable* 11.70 11.58 11.43
CANADA.
New Tork fund* In Montreal, $9.38 premium
a $1,000; Montreal fund* In New York,
$9.29 discount a $1,000.
DEFICIT BY T. P. A W. ROAD.
The Toledo, Peoria and Western Railway's
Income account, for 1921 show*
'gross operating revenues of $1,892,419,
operating expenses and taxes of $2,021,072
and operating deficit of $328,653.
After addition of $106,004 In non-operating
Income and deduction of $285,005 In
fixed charges the year'* final deficit was
1507,664.
?
2 THE N
NEW YO!
i
Day's sales
1922. 1 r-Closlng.-v iDlv.l I
High,| how. 1 Bid. | Ask. ;ln>-! S?le?. I
19% I 10% | 16%! 17% ..I 10<)| Adv Ru
18% 13% 16% 17% 600!AJax Ri
%! %i %) % ..] 100|Alaska (
1%[ %l 1% 1% .. 41001 Alaska .
69%! 56%' 66% 66% 4 100 Allied C
52 i 37% ; 48% 49% I .4 700iAllls Ch
41%; 29% 38% 38%I .. 100|Am Ag
44 I 31%, 39% 40 .. 100 Am B S
49 i 31% 45% 45%! .. 400lAm Bos
68% i 51 j 61 62 j 4 100 Am Br fc
50%; 32% 47% 47%j .. 1200!Am Can
164 f 141 Imn 1fi1 i ? 100 4m far
14 7 12% 12% .. 200|Am Chic
27% 19%, 25%| 26 .. 300 Am Cot
6% 4% 5%| 5% .. 2001Am Dru
72% 58 68 68% .. lOOlArn H &
114% 78 103 104% 7 500 Am Ice.
82% 72 80% 81 6 200 Am Ice
48 38% 44% 45 .. 600 Am Int
13% 9% 12% 12% 1 2200 Am L F
36% 29% 33 33% .. 100 Am Lin
117% 102 114 115 6 800 Am Loc
118 112 116 116% 71 668 Am Loo
99% 82 95 98 4l 100 Am Rac
8% 3% 6% 7 .. 400 Am Saf
18% 5% 17% 17% .. 1700 Am Ship
59% 43% 58% 68% .. 2200 Am Sm ,
98% 86% 97% 98 7 100 Am Sm .
40% 30% 38% 39% 3 2300iAm Stee
76% 54% 75 75% .. 1800|Am Sun
36% 23% 33% 34 .. 200'Am Sum
124% 114% 121% 121% 9 800 Am Tel
144% :i29% 139% 139% 12 500!Am Tobi
139 126 136 137 12 lOO'Am Tob
14 6 12 12% .. 2001Am W \
95% 78% 91% 92 7 3600 Am Wo
19% 12% 17% 18% .. 2001Am Z. L
64% 47 52% 53 .. 1600 Anaconil
83% 75 80 82% 6 15:As D G
135% 99 (125 125% 6 200|Asso Oi
302 91%: 99% 100 I 6j 800lA, T &
5% %' 3% 3%, .. 2001 At, Birn
103 93 1101% 102 I 7 200: Atlantic
5%] 2^4[ ?%[ 4 ! ..{ 1700i Atlantic
38%i 23%] 35 I 35%| .-I 1000]A, Gulf ,
28 9%! 24%; 25%i ..I 3001 Austin 1
85 68 I 84%] 85 7] 200lA Niche
J 20 92%lU7% 117% 7 7100]Baldwin
49% 33% 46% 46% ..I 2400lBalt & <
61% 52% 60 60% 4! 200iBalt & 0
56% 19% 44% 44% .. 500lBarnsdal
1% % 1 1% .. 300]Batopila!
79 51 76% 77% 5 400 Beth St
114 104 112 114 8 400IB S 8 r
82% 55% 80% 81 5 13300|Beth St.
2% % 1500lBklyn E
29% 19% 26% 27% 7 90 B E S
29% 19% 26% 27% 7 200 B E S 2
27% 6% 25% 25% .. 2300 Brooklyr
23% 5% 21% 22 .. 400iB R T <
138 (115 133 '133% 10 100]Burns I
43% 28% 40%] 40% 2 500 Burns E
97% 87% 96%I 97 7 500 Bush Te
34 26 26 27 .. 700 Butterlcl
7% 5% 6% 6% .. 200 Butte Cc
31% 20% 30% 30% .. 800|Butte &
15% 10% 13% 13% .. 1700 Cad C C
59% 43% 56 56% .. 100 Cal Peti
8% 5% 7%] 8 I ..| 1800 Cal Z &
145 119% 139% 140 | 10 1400 Canadiar
16% 11 13 14 .. 200 Carson
40% 29% 36% 87% .. 300 Cen Let
37% 32% 37 37% .. 300 Cer de 1
49% 34 46% 47 .. 100|Certain-l
79% 47% 73% 74 6 600|Chandlei
66% 54 64% 65% 2 200|Chesnp i
9% 1% 7% 8 .. 10C Chi & /
19% 3% 15% 16 .. lOOiChi & A1
39% 12% 38% 39 .. 1000|Chi Easl
69 ?1% 65 56 .. 400 Chi East
9% 5% 8% 8% .. 100 Chi Gt 1
28% 14% 20% 21 .. 200,Chi Gt 1
29% 16% 25% 26 .. 70C Chi, M A
47 29 42 42% .. 2000 C. M & g
76% 59 74 75 5 500 Chi & N<
112% 100 109 111 7 600 Chi & N
48% 30% 43%l 43% .. 1600 Chi. R I
97 83% 96% 95% 7 100 C.RI&P
20% 15% 19%f 19% .. 2600 Chile Co
29% 25%] 28 | 28%| .. 100|Chino C
66% 54 63 65%| .. 100IC, C, C I
58% 41 57% 57% 4 1000 Coco-Col
36% 24 35% 36 ! .. 8900jCol Fuel
53% 28 48 49%' 31 900 Col & So
89% 64% 88 88% 6| llOOlCol G &
5% 1% 4% 4%l .. 13001 Col Gra
79% 55% 66% 67 4' 2209.Comp T
120% 85 116% 116% 7 300 Consol <
15% 12 13% 13% .. 2200|Cons Tc
108% 91% 101 101% f6] 8001Corn Pr?
45% 31% 43% 43% 2%| 2300|Cosden i
77% 52% 75 75% ..I 17000|Cruc Stc
95 80 93 95 7! 200|Cruc Stl
26% 14% 21% 21%! .. 1500!Cuhan J
94% 78% 90 92% 7! 300 Cub Am
13T4] or* 10 .. lIUVILUOa (J i
40% | -15% 33% 34 .. 400|Cuba C I
65%| 48% 58 59 .. 1900,Davison
33%; 15% 21 21 % .. 400 Dp Beer
122% 106%:i20% 122 3 100!Del & H
119% [110% 116 117 6 100 Del. I. Ji
81% | 72 80 .. 7' 100|Dur Ho?
77%I 76% 76% 77 cj 600|Ea?t K
9 2% 8 9 10O|Emer B:
112% 81 81% 82% 5 700|End Jol
14% 7 13 13% .. 500 Erie ...
25 ai% 21% 22 .. 70C!Erle 1st
16% 7% 14% 15 .. 100[Erie 2d
, 20 15 15 20 .. lOOlFalrbanl
85% 75% 80% 80% 8 800|Fam PI
14 8 10 13% .. 100'Fed M i
46% 37 43 | 43% 4 101) Fed M &
19% 11% 18% | 18 V .. 500i Flsk Rt
20% 12% 19%l 19%! .. 10300|Freeport
1% % %| % .. 100'Gas, W
67 55% 61%' 61% .. lOOlGen As]
99 98% 98 ! 99% 7 100|Am Tan
166% 136 163% 164 xl2| 300IGen El?
13% 8% 12% 12% .. 30001 Gen Mr
82 67% 81% 81% 6 lOOlGen Mo!
42% I 34% 40% 40% .. 100|Goodricl
30% i 26 28 28% .. 2200:Granby
10%i 12 17 17% .. lOOlGray &
80%! 70%< 74%i 75 7 1600'Great N
45%; 31%) 41 %I 41% 4 2900lGreat N
14% 6% 11 I 11%' .. 100|Ouan 8i
18% I G 13%! 14% .. 300!Gulf. M
90%, 44% 86 I 86% .. C500|Gulf Sti
3%) %l 2 I 2% .. 400 lJablrshj
75 55 70 73 81 100, Hompat.n
19% 10% 19% 19%! 1 83001 Hupp \
9% 3% 9% 9% i .. 14500lHvdraul
30 80 36 38 .. 200lHydraul
83% 70 I 78% 78% .. 300!Houston
109% 97% 103% 104 7 ?001711 Cent
4% 3% 4% 4% .. 900! Indiahor
42% 37% 39% 40 .. 600!ln?plratl
5 12% 2% .. 800'lnterbor
12% 3% 5% 6 1600'Interbor
38%; 26 I 37% 37%'2% 700Unter C
28%; 22 1/26% 26 | 2 OOOlInt Corr
27% | 13% I 23 23%, . ,| 600|Int Mer
87%! 62%J 82% 83 6 900ilnt M 3
19% i 11% 17% 17% .. 2200 Int Nlol
54%! 43% 50 50% .. 1300ilnt Pap<
20% 12% 17% 17% .. SOOlInvlnrib
35 24 32 I 32% .. 1200!lron Pr
3 % 1%| 1% .. 420011'land (
22% 10 21 21% .. lOOl.lewel 1
73 38% 71%! 71% .. lOO JewH T(
43% 34% 41%; 42 .. lOOlJonos B
7% 4% 6 ] 5% .. 1800) Kansas
30% 22 27%| 28 .. 2000lKan Clt
59% 52% 58 59 4 300!K City !
47%I 34 45%( 45% 8[ 4300IKayser(.
53% 34% 50 51 .. 1400 Kelly S)
111 61 92 100 ,.i 100 Kolsey
34% 25% 33 83%! ..| mo^Kennern
rri rnunur ? mi/ ip ! n.
i?&#crnv/iTc LLCAJV IJ
WOW FIRM MEMBER m
Hertriques Becomes Partner of Cl
Brokers
A member of the newly former! firm of sti
C. P. Holzderber A Co., which will begin b?
business as a New York Stock Exchange In
house on July 1, Is Oeorge Hcnrlques,
who for fifteen years or more has been a
telephone clerk In the employment of
Henry Clews A Co. C. P. Holzderher, ,!S
cne of the floor members of the firm. Is ht
also from the Clews organization. The ?'
ether two members of the Arm are Oliver of
It. Brldgman, a member of the exchange, st
anrl Charles I*. Edey. Other new partnershlps
and Arm changes announced by 5.
the exchange are as follows: ye
Remlck, Hodges A. Co., new Arm;
members, Oeorge W. Hodges, Herbert co
B. March and Charles C. Townrend. I"
Watson A White, new Arm; membets. In
Theodore 8. Watson, E. Laurence 1*3
White and Robert Page Burr. Edmund 13
W Sinclair and Ehrlck B. Kllner, admitted
to the Arm of Cnrreau A Snede- A
Iter; Grenvill* Kane, retired from the 32
EW YORK HERALD,
RK STOCK EX
SATURDAY.
1922. 1921. 1920.
688,473 352.100 268,90
lOpen- | High- Low-|Clos-| Ntt
t'*t- e't- ' ln,:^ lch'n,t
mely.. I 17 FT7 17 I 17 + T(
jbber.. | 17 17 17 j 17
3 M...| % % %! % + *
Juneaui 1%] 1%, 1%| 1% + V
& D..I 66%I 66%| 66%I 66% ? \
aimers; 4S*ii -jsy*! is r.
Chem. 39 i 39 39 j 39 + *
uKar.. 39% j 39% 39%i 39% + *
ch M. 46 ! 45% 45 ! 46%]+ IVi
i & F.. 61 61 I 61 I 61 1+1
47%i 47%: 47% 47%j + M
& F... 160%1160% j 160% 160% + 2
le .... 12% 12% 12% 12%? M
Oil.... 25% 25%| 25% 26%| ..
g Syn 5% 5%j 5% 6% + M
L pf. 67% 67%l 67% 67%|+ M
104% i 105 1104% 104% + H
pf 80%! 80%; 80% 80% ?
Corp.. 44% 45 | 44% 45
F E.. 12% 12%! 12% 12% ..
seed... 33 33 33 33 + M
omo... 114% 115 114 114
0 pf... 116% 116% 116 116 ? \
liator.. 98 98 98 98 + M
Razor 6% 6% 6% 6% ..
, & C.. 16% 17% 16% 17% + hi
& Ref. 59 59 58% 58% + M
& R pf 97 97 97 97 ? M
1 F... 38% 39 38% 39 + K
far.... 74% 75 74% 75 + %
1 Tob.. 32% 33% 32% 33% + 14j
& Tel. 122 122 121% 121% + 7A
acco... 139% 139% 1139% 139% ?
B... .136%) 136%1136% 1136%) ..
Vks Ell 12% 1 12%I 12% I 12%I? %
olen... 91% 92 90% 91% + %
, & S.. 18 18 17% 17% ? M
a .... 52% 62% 62% 62%? %
1st Pf. 82% 82%; 82% 82% ..
1 125 125 125 125 ? M
S F.. 99% 100 99% 99% + %
1 & A. 3% | 3% 3% 3% + V
C L.. 102%j 102% 102 102 + 1<*
Fruit. 4 4 3% 4 + M
& W I. 35%! 35% 35% 35% ? %
Nichols 24%| 25% 24% 25% + Vi
lis pf. 84%I 85 84% 85 + %
Loc... 117 !117% 11694 117% + 9i
Dhlo... 45% 47 45% 46% -f *i
ihlo pf. 60% 60% 60% 60% ..
1 A.... 44 44% 44 44% ? *
3 1 1 1 1 ? M
eel 76% 77% 76% 77% ? %
c pf... 112% 112% 112% 112% ? 1V4
sel B.. SHi1, 81% 80% 80% ? M
Id rts. 2% 2% 2% 2% ..
2d pf. 26% 26% 26% 26% ..
id pf. 26% 27 26% 27 + M
> R T.l 25% 26% 25% 25% ? M
:tfs.... 21% 22 21% 22
Jros... 133% 133% 133% 133% + y<
Iros B. 40% 40% 40% 40% ? V4
rm pf. 96% 97 96% 96% ?
< 26% 27 26% 26% + M
,p & Z. 6% 6% 6% 6% ..
Sup.. 31 31 30% 30% ? M
) & R. 12% 13% 12% 13% + V.
Ol 56% 66% 66% 56% + M
t L.... 7% 8 7% 8 + VI
i Pao. 140 140% 139% 139% ? M
H Q.. 13% 13% 13% 13% ? M
ither.. 36% 37 36% 37 ? M
r^asco.. 37% 37% 36% 37
teed .. 46% 46% 46% 46% + 1%
Mot. 73% 73% 73% 73% ..
6 Ohio 65% 65%; 65% 65% + %
ilton.. 8 8 8 8
I ton pf 16 16 16 16
t 111... 38% 38% 38% 38% + 1%
. Ill pf 54% 56 ! 54% 56 + %
>Vest.. 8% 8% I 8% 8% + %
V pf.. 21 21 | 21 21
4 St P 26% 26% 25% 26 + %
It P nt a/. A91L I i1 V. AO 11. -i- V.
orthw.j 73% j 74V4J 73Vi | 74V. 1+ 1
hw pf,110% 110%!ll0% 110% + %
& Pac 43% 43% 43% 43% + %
7% pf.j 95% 95% 95% 95% + %
pper.. I 19% 19% 19% 19% + %
OPVt-rl 28%| 28%| 28% 28% | + %
5c St L 65 65 | 65 65 ? 1%
a .... 57% 57% I 57% 57%? %
& Ir. 35% 36% | 35 36% + %
mth'n. 47% 48%i 47% 48% + 1
Eleo. 88 ! 88% 87% 88% -f %
pho... 4% 4% 4% 4% + H
Reed. 65 i 67 65 66% + 1^
Jaa 117 (117 116% 116% +
xtile.. 13% 13% 13% 13% + M
:>d Ref!l01% 101% 101 101% ? Vi
k Co.. | 43% 43% 43% 43%i+ V<
el Co. 75% 77% 74 75 ? M
Co pfi 94 94 94 94 j? ^
Vm S.| 21% 21% 20% 21%| + 1%
S pf.; 93 93 92 92 ? 2
Sugar.! 15% 15% 15% 16% [ -h' %
Sug pf, 33% 33% 33% 33% + %
Chem| 59 60 59 59%|+ %
x M A. 21% 21%) 21 % I 21%'+ M
:udson.|121% 121 % 1121 % (121 % | -f- %
c West! 117 '117 1117 1117 I + U
i pf... 8l%| 81% 81% 81% + M
odak.. 77 I 77 | 76% 77 ? ^
rant... . 8%| 8%| 8% 8% + Vi
jnson.. 82% 82% 81% 81% ? Vj
53% 13% 12% 12%? M
pf... 21% 22 21% 21%? M
pf 15 15 15 15 + M
IB Co. 15 15 15 15 ? 5
ay-L,.. 80% 80% 80% 80%? M
t Sm., 12 12 12 12 ? V
t S pf. 43% 43%( 43% 43% +
ibber.. 18% 18% | 18 18% + V
Tex.. 18% 19%' 18% 19% + 1V(
AW.. % %l % % ..
?halt.. 61% 61%! 61% 61%? M
k pf.. 98% 98%| 98% 98% -f V,
fctrlc.. 163% 163% 1163% 163% + %
(tors... 12% 12%| 12% 12%? V
Ldeb.. 81% 8K%! 81% 81%+ *
> 40% 40% 40% 40% + \
C M&S 28% 28% 28 28% ..
Dav...| 17 17 17 17
or pf.. 74% 75 74% 75 + *
or Ore 41% 41% 41% 41% + 4
UKnr... 11% 11% 11% 11% + ^
& Nor 14% 14%! 14% 14%? V
ites S.) 85% 87% 84% 86 + 1*
iw ...| 2 3)2 2
ike ... 72 72 I 72 72 + 3
lotor.. 18% [ 19% 18% 19% + \
In St.. 8%, 9% 8% 9% + H
ir 8 pf 36 1 36 36 36 + 3
Oil... 78%: 78%| 78% 78% ..
ral 103% .103% , 103% 103% ? l
na . .. 4 % i 4% 4% 4% + 3
Ion C.. 40% I 40% I 39% 40% + \
o Corp 2%: 3 2% 2% ? \
o C pf| 6 6 5% 5% ..
ement. 37%. 37% 37 37% ..
lb Knsr 25% 25% 25% 25%'? 8
Mar..| 23% 23% 23 23 |? \
far pf. 83% 83% 82% 82% ? \
tel .... 17% 17% 17% 17%? }
er 61 61 50% 50% ? \
le Oil. 17% 17% 17% 17% ..
oducts. 32 32% 32 32% + *
)ii & T 1%; 1% 1% 1% + 1
ea ... 21%| 21% 21% 21% + 1,
?a pf.. 71%; 71% 71% 71% ..
ros T.. 42 42 42 42 ? t
<4 Gulf 5 | 5% 4% 5% + v
V Ho.. 27%; 28 27U 28 x. \
*0 pf. ) 59 I 59 59 59 -f 2
I) &Col 4 4 I 45V4 43% 4514 + 2\
or Tire! 50%' 51 5014 51 + $
Wheel. 98 ! 98 98 98 + 3
tt . ...1 33 1 3314 32%| 3314 4- V
m of Teller ft Co.; Benjamin F. Wall
an, admitted to the flrni of W. J. Woll
an ft Co. I
DTTON CONSUMPTION REP0R1
Washington, May 13.?Cotton con
irnel during: April amounted to 445.84
ilea of lint and 46,288 balen of llnten
contrast to 409,247 of lint and 48,22
Unters In April, 1921, the Censu
urcau announced to-day.
Cotton held on April 30 In conaumln
tabllshments amounted to 1,458,21
ilea of lint and 176,534 of llnters, li
.ntrast to 1,315,706 of lint and 215,98
llnters a year before, and In publl
orage and at compressor 3 214,386 o
it and 118,453 of llnters. In contrast t
026,894 of lints and 301,639 of llnters i
>ar earlier.
Imports In April were 15,115 bales, I
ntrast to 18,731 In April, 1921. Tlx
?rts In April were 612,659 bales, Includ
g 11,698 of llnters, In contrast to 319,
3, Including 4,748 of llnters. In Apr)
li.
The number of spindles active li
prll were 31.389,256, in contrast t
',597,403 in April, 1921.
, SUNDAY, MAY 14, 19
CHANGE QUOTA
MAY 13, 1922.
7 Year to date
. 1922 .| /?Closing.?> IDlv.l
? Hl<h.| Low. I Bid. | Ask. |ln|.I Pelea.
24%| 15%I 22%I 22% .. 4200 Key T1
174 illO 1137 % 1140 6 lOOlKresge
? 79%I 44 i 78% 78% .. 15300lLack 6
8 82 I 43 78 79 .. 500lLaclede
i 20% i 16 16% 16% .. 200|Lake E
a 39 ! 26%I 33% 33% .. 100IL E A
i 35% i 26% I 33% 34 2 500|Lee R
t 65%, 56% | 62% 63 3% 2000jLehlg;h
i 18% | 11 i 16% 16% .. 600| Loews
159%1147% |151 |152 | 121 500ILorillar
i 121 % 1108 | ..| .. | 7 j lOOjLouls i
dj zo*/S
93 72 ; 92% 98 6 200 Mackaj
65% 43 60%! 60% 7 100 Man E:
43% 32 40 40% 1% 600 Man S
50% 17 38 39 .. 100 Mkt S :
32 5% 22% 24 .. 100 Mkt St
67 35 62% 63 6 300 Mkt S
34 20% 30% 30% 2 1000 Mart-P
31% 22% 31% 31% .. 1000 Marian
73% 46% 72% 73 .. 9200 Max M
22% 11 22% 22% .. 6500 Max M<
21% 13% 17% 18 1 300 Mclnty
136% 106% 130% 130% 12 4600 Mex.P<
30 25% 28% 28% 2 400 Miami
16 11% 14*% 14% 1.20 69001Mid Sti
40% 27% 40% 40% .. 47100 Mtdv S
14% 5 13 13% .. 600jM, & SI
71% 59% 59 61 4 100,M,St P
22% 10% 21 22% .. 200 Mo. K i
12% 3% 11 11% .. 600 Mo, K
18% 7% 17% 17% .. 1800:Mo, K
25% 16 23 23% .. 1900 Mo Pat
59% 48% 56 66% .. 900 Mo Pat
74 63 72 72% 3 600 Mont 1
22% 12 2f% 22 .. 2100 Mont V
157 123% 140 147 7 100 Nat Bi:
43% 30% 41% 48 .. 3900 Nat En
113% 108 109 110 7 100 Nat Le
6% 3 5% 5% .. 100 NRR
18% 13% 16% 16% .. 100 Nevada
69 54% 65% 66 6 200|N O, T<
92% 72% 89% 89% 5 1500,N Y Ce
69% 51% 68% 69% 6 200|N Y, C
35% 28 34% 35% 2% 600IN Y D<
30%i 12% 10800|N Y. N
30% 19% 27Vi 27% 2 100;N Y, O
60% 44% 57% 58 x6i 400iNor An
8% 3% 7% 7% .. 200|North J
82% 74% 75% 76 5 700|Nor Pa
33 20% 30% 32 .. 400|Nova S
14% 11 11% 12 .. '600;Ohio B
3% 2% 2% 3 .. 600 Okla P
01 u 19&/. OA I OAS/. 7AA Arnh r
s 143% 116 136 142 8 100 Otis El
16% 9% 15% 15% .. 2900 Otis Sti
66% 40% 64 66 7 600 Otis St<
1 39 24% 35% 36% 2 500 Owens
# 14% 6% 9% 10 .. ' 600 Pac De
73% 62% 69% 69% 5 600 Pac Gaj
1 69% 44% 64% 65 3 3700 Pacific
1 66% 58% 63% 64% 6 400 Pan An
' 59% 44 56% 57 6 800 P A P
? 12 7% 100 Panhan
43 33% 40% 41 2 800 Penn 11
8 12% 6% 12% 12% .. 26700 Penn S<
8 88 59% 86 86% 5 100 Peoples
" 19% 10% 13 15 .. 100 Peo & 1
' 32% 19 31% 31% .. 1700 Pere M
I 40% 31% 38% 38% 3 100 Phila C
; 45% 28% 43% 44 2 2300 Phillips
24% 13%! 20 20% .. 1 4500 Pierce
49 27% 40% 41% .. 1600 Pierce
1 12 7 10% 11 .. 3800 (Pierce 1
71 39 59% 60% .. 700 Pierce ?
1 65% 58% 63% 63% 5 300 Pitts O
79% 66% 77 77% 5 600 Postum
36% 23 36% 36% . . 4200 Pitts &
1 23% 14% 20% 21 1% 200 Pond C
k 100% 91 97 98% 7 100 Press S
1 39% 24 38% 39 .. 7500 Prod &
91 66 86 87 6 .. Pub Sei
k 129% 105%|121 121% 8 700 Pullmai
43% 30% | 41 41% .. 2900 Punta
38% | 29 % I 33% 33% 2 1900 Pure O
17 i 13%) 1200 Ray Co
i 80%! 71% 79% I 79% 4 8400 Readinf
, 42 ) 24 32%) 34 .. 200|Rem T
i 41 ! 25% 35 f 35% .. 14700[Replogl
68%' 46% 73 I 73%, .. 26900|Rep Ire
i .94 74 91% 92 .. 200lRep Ir
i 48%: 43 46 46% 3 300)Reynol<
1 4T1/ finiy C O ?/ E OA OAAA'DO.'AI T
\ ?0,v8| ** i V4k 74 I 78 w-?v *,wvujivuj-ttJ i
31% 20% 29% 30 .. 2300!St L &
6% I 1% 3% 4 .. 300|San Ce
24% 11% 19%| 20% .. 100jSavage
10 1 2% 7 7%.. 1001 Sea b A
77%I 59% 73% 75 .. 1400 Sears ]
34%| 18% 32 | 32% .. 6800|Sinclair
54%| 34%| 51 I 52 I .. 5200!Slos*-8
92% I 78% 90%I 90% 6 1500jSouth
25%| 17% 24% | 24% .. 2300 South
19%! 17 18% I 18% .. 800 Spear 3
49%j 45% 48%I 49 2% 400 Storlinj
196 >169 1185 Il86%! 5 800\Stand (
116%|113%lll5 1115% I 7| 200!Stan O
121 ! 91 % J114% 114% 4| 1700|Stand <
42% 24%! 40 40% 3 lOOlstew V
59% 35% 53 53% .. 400|Stromb
124%' 79%|ll7% 117% 7 10600jBtudebJ
112 |100 !106% 111% 7 lOOlStudebi
7 I 3% 5 5% ..] 200)Submai
8%l 4% 7% 8 ... 1400 Superlc
39%; 26 35 36% .. 300 Superb
12%! 9% 11% 11% .. 1300 Tenn C
50%! 42 ; 47% 47% 3 57001'Texas <
46%| 38%' 42%| 43 1 f2% 400iTex Oi
31%j 23 29%' 29% 1 1900iTex P <
36 ' 24% 32%! 32% .. 1000|Texas ,
25% 14 ! 22% | 23 .. 100 Third
137% i 109% 1135 1136 .. 200\Tide H
71 % | 57%| 68%! 68%I J6| 1800|Tob Pi
95 | 88 90 93% I 7 100 Tob Pr
37%| 15 35% 36% .. 400 T.SU&A
17 7% 16% 17 .. 68100 Transe
48%| 32% 44 44% 2 2200 Trans
24 17% 22% 22% .. 1300 Union
140% 125 j 136 137% 10 500 Union
41% 25 40% 41 .. 3900 United
73% 60% 72% t2% .. 2500 United
148 jll9%139% 140 8 300 United
19% 7% 15% 16 .. 400 Un Ry
58% 43% I 58 58% .. 10800 Un Ret
38% 16% 35% 35% .. 1300 USCI 1
70 50 69 69% 5 100USCU1
51% 37 49 49% .. 800 U S Ir
69% 55% 67% 68 .. 600 U S R
67% 51% 63% 63% .. 1400 U S R
106 99 ; 104 104% 8 100 U S Ri
42 ! 32%; 40 40% .. 100 U S S.
IWW7BI 04 5 3 71 3S71 U OltUVU I \J ?5 c?
120 ill4% 117% 118% 7 6001U 8 St
68 I 60% 65 65% 2 700|Utah C
19% 9% 17 17% 200;Utah H
48% 30% 50% 51 .. 261001 Vanadl
36% 27% 32% 34 .. 200|Va Car
82 67 76 76 .. 5001 Va Car
94% 43 58 59 .. 700 Va Iroi
72% 66 71 72 5 lOOlVa I, C
11% 6 10% 10% .. 4001 Wabasl
34% 19% 31 31% .. 600! Wabasl
17 10% 14% 15 1 100iWeb &
12 8% 10% 10% .. 100'West 3
24% 13% 21% 21% .. 200| West 1
99% 89 98 99 7 100|Wost I
64 49% 62% 62% 4 12001 West's
27 25 25% 25% 2 600|Whlte
13 6 11% 12 .. 8001 Wheel
24 12% 21% 22 .. 300 Wh &
11% 7% 10 10% .. 3001 White
21% 13 20% 20% .. 9400|Wlok S
9% 4% I 7% 8 .. 900! Willys
49% 27%' 45% 46 .. 200!Wilson
54% 43%| 51% 52 4 100|Worth
<, 9Vi! 6%! 9 I 9%l l! 3001 Wrieht
? *Kx div. 1Ex rights Jin scrip, x
NOTE?Odd lot transactions are not
ji were made at price outside of the regular
I GRANBY REDUCES DEFICIT.
Report Also Shoves Finns for Cuti
tins Cost of Output. ]
Notwithstanding Its bad financial ,
i- statement for 1921, the Oranby Consoll3
dated Mining Company's report shows ,
i, that the company is producing around
7 2,500,000 pounds of copper a month at
s a cost laid down in New York of abo it
R 11 cents a pound. Flans for further re- i
9 duction of those costs are on foot and
n officials of the company estimate that
'' as a result of improvement work under ^
f contemplation, the charges will be roo
duced soon. 1
a The Income account for 1921 shows a
deficit of $287,161 after taxes, deprecla.
tlon, etc., In contrast to one of $687.1)11 1
- In 1920. Its gross receipts were $7,23 4,- <
- 519 In contrast to $684,123 and operating
I, costs, $6,309,215 In contrast to $6,823,813.
Inventories were reduced by
n $1,611,919 and accounts receivable Ino
creased by $424,955. Accounts payable '
declined $1,015,737. I
i22.
TIONS.
1922. 1921. 1920. to
. 98.976,633 67,233.555 106.816,793
~ jOpt'ii- | High-1 Low-1 Clo?-| fJct
| Ing. | f?t. | e?t. I Ing. |Ch'nge. wo
re & It. I 21%! 22% 21%[ 22% + % pa
SS... 188 1138 138 138 ? 1 lnt
Iteel....[ 78%f 7976 ( 78% | 78% + %
, Oaa.. | 79% i 79%) 79 | 79%l + %
:& W..| 16%| 16% 16% 16% + %
w pf.. 33% 33% 33% 33% ? %
& Tire.! 33%i 33% 33% 33% + % ?
Val... 61% i 62% 61% 62% + 1% [%
Inc ...| 16 I 16 15% 16 i .. c(*
d P.... 1161%i 152 J151% 152 1+ 3
k Nash.. 119 119 119 119 + 2
rr Inc.. 48 49% 48 48% + 1%
f Cos... 92 92 92 92 - %
I Guar.. 51 51 51 61 4- % tl
hirt.... 40% 40% 40 40 + %
R 1st pf 38% 38% 38% 38% + 8
It 2d pf 23 23 23 23 ? % th
r> .... fiVZL ?2*> 62% + 1% \
arry .. 31 31 30% 30% % _
d Oil... 31% 31% 31% 31% ..
ot A.... 72% 73% 72% 72%+ % the
ot B.... 22% 22% 21% 22%+ % an,
re Por. 18% 18% 18% 18% + % mll
3t 130% 131 130 130% + % me
Copper. 28% 28% 28% 28% + %
1 Oil... 14% 14% 14% 14% .. da
t & Ord 38% 40% 37% 40% +1 Cn
t L new 13 13 12% 13 ' + % Sta
& SSM 60% 60% 60% 60% + %
ft T war 21 21 21 21 ? %
& Tex.. 11% 11% 11% 11% + %
<ft T w i 17% 17% 17% 17% ..
:ific.. .. 22% 23% 22% 23%+ % tha
;ific pf. 65% 66% 65 56% + 1 mil
Power.. 72 72% 72 72% + % Pl?
V & Co. 21% 21% 21% 21%+ % me
scuit... 145 145 145 i 145 j? %
i & St.. 40% 42 4UJ4I 42 -+- A4jj ""
ad pf.. 110 110 110 1110 .. the
M2dpf 5% I 696 5% 5%+ % 'oy
C C... 16%! 16%! 16% 16% .. Sh
?X & M. 65%I 65%I 65%! 65% + % Tn
ntral... 89%| 89% 89%| 89% + % wl(
& St L 68%' 68% I 68%! 68% + % "e<
jck 34%| 35 34% 35 + % the
H & H 29% 29% 28% 29% + %
& W... 27% 27% 27% 27%! + %
nCo... 57% 57% 57% 57%| .. ? "
Un rts. 7% 7% 7% 7% ? % the
,c 75% 76 | 75% 76 + % th*
5 & C. 29% 32%l 29% 32% + 7% scl'
6 B Co 11 11 11 11?1
& Ref. 3 3 3 3
ircuit.. 20 20 20 20
ev 137 137 137 137 .. ,
eel 15% 15% 15% 15% + % hei
pel pf.. 64 65 64 65 -f- % ?i_
Bot.... 36 36% 36 36% + 1% R1.
vel 10 10 9% 9% ? % Hlcj
s & El. 69% 69% 69% 69% ? % Hec
Oil.... 65% 65% 64% 65 .. w.
l P & T 64% 64% 63% 63% ? % rof
& T B. 56% 57 56% 56% ? % rec
P & R| 7% 7%| 7% I 7%+ % we
: R 40% 41 40% 41 + % ter
ea St... 12% 12% 11% 12% + % thf
Gas... 86 86 86 86 .. c0(
East.... 13 13 13 13?2 for
arq ... 31% 31% 30% 31%|+1 ln,
'o 38% 38% 38% 38%,? %
Petrol. 43. 44 43 44 } + 1
Arrow.. 19% 21 19% 20% i? %
Ar pf. . 40% 42% 40% 41 + %
Oil 11 11 10% 11 .. Hy
Oil pf.. 68% 60 58% 60 +1 asi
oal ofp 63% 63% 63% 63% + % inf
Cereal 78 78 77% 77% .. etc
W Va. 36 36% 36 36% + % wa
r Coal.. 20% 20% 20% 20% ? % clo
It C pf. 98% 98% 98% 98% ? % Tr;
Ref... 37 39 " 37 39 + 2 2
rv N J. 86% 86% 86% 86%? % hit
i 120% 121% 120% 121% ? % tin
A1 Sug. 40 41% 40 41% + 1% Tr
il 33% 33% 33% 33% .. pr)
>n Cop.. 16 16% 16 16% + % aol
i .77# 79% 77# 79# + 1% ln
ype ...,33# 33# 32# 32#? # wa
e Steel. 34# 35# 34 85# + 1# tni
>n & St. 68# 73# 67% 73 + 4% |
Ac St pf 90 91# 90 90 .. '
Is TobB 46 46# 46 46# + % [?\
3 N Y.. 62% 63 62% 62% ? %
San F. 29# 30 29# 29# + #
c Sugar 4 4 3# 3# .. pu
Arms. 19 19 19 19 ? 1#
Ir Line. 7 7 7 7 + #
Roebuck 73% 74# 73 74# + 1#
Cons.. 32# 32# 32 32 .. tpr
h S & I 49# 54# 49# 51# + 1% ln
Pac ... 90# 90% 90# 90% + #!^_
Rail.... 23% 24# 23% 24#+ # L"
VI fg Co. 18% 18% 18% 18%+ # L,
? Prod. 49 49 49 49 6 ..
}I1 N J. 187# 1S8#,186 186 ? 2#i?,.
N J pf. 115#,115# 115#,115# ? # L
11 Cal. 113 |114% 112% 114% + 1% I Jr.,
Varn S. 40 40 i 40 40 .. I in
erg Car 53 53# 53 53# ? # sp<
iker ... 117% 118# 117# 117# ? # Sa,
\ker pf. 109 109 109 109 ? 1# tht
r Boat.. 5 5 5 5 + #
>r Oil... 7# 8 7# 7%+ % ; cf>,
>r St... 35 36 35 36 ? % I cal
lop & C. 11# 11# 11% 11#+ # an
Co 47% 48# 47% 47% ? #
ulf Sulp 42# 42% 42# 42% + #
C & Oil. 29# 29% 29# 29#+ #
& Pac.. 32 32% 32 32% + %
Ave ... 22# 22# 22# 22#? % as
7at Oil.. 134 134# 134 134#|? 1 to:
roducts. 68% 69 68# G8#l+ # mi
od pf... 92 92 92 92 ? 1% M
TV cts B 37 37 36 36 ? 1# I Mi
on Oil.. 15# 17 15# 17 + 2# | ini
& W St 43% 45 43 44# + 1 # ge
Oil 22#! 22# 22# 22#? #
Pac ... 137%! 137% 137# 137# ? %
All St. 39#! 41# 39# 41 + 2
Dr Co. 72 72# 71% 72# 4- #
Fruit.. 139% 140 139% 140 | + 1% 7"
Inv.... 15% 15% 15% 15% 1 + % .
tail St.. 58% 58% 57% 68 ! sp
? & Fdy 36% 36% 35% 35% ? % ?r
' A F pf 69% 69% 69% 69% + % TP
id Al... 49 49% 49 49 ? % *e
& Imp. 67% 67% 67% 67% + % S(
ubber... 63% 63% 62% 63% .. a
lb 1st pf 104% 104% 104% 104%|+ % "r
R A M. 40% 40% 40% 40% -|- % w
teel 98% 99% 98% 99%!+ % ,u"
eel pf.. 118 118 118 118 | ..
topper.. 65 65% I 64% I 66% + %
tec 17% 17% | 17%! 17% | + % T;
urn .... 48% 51 % i 48% | 51 + 2% lo1
' Cheiji. 32% 33%! 32%' 33%j + 1% 'p,
Ch pf. 75 75 i 75 | 75 |+ %
X C A C 59% 59%| 58%! 59 |+ %
' & C pf 72% 72%| 72%| 72%| + % *
h io% io%I io%| io% + % "
h pf A. 30% 31 30%, 31 + % !'!
Heilbr. 15 15 I 15 15 + % ,.
4ary.... 10% 10%| 10%! 10% + % '
^ac 21% 21%! 31 % 21 %| + %
Jn Tel...| 98%| 98%J 98%j 98%+ % I"
BAM 62% 62% I 62 I 62 ? %
Eagle.. 25% 25% | 25% | 25% + % .r"
A L E.. 11% 12 | 11%| 12 + % | "
I. E Pf. 21% 21% I 21%! 21% ? 1% 1 "'j
Oil 10% 10% 10% I 10% _ % pr,
Ipen St. 21% 21% 20% I 20% ? % 'P1
Over... 8 8 7% | 7% .. '7
A Co.. 45% 45% 45%I 45% ..
pump..| 51 % f 61 % I 61%| 51% + % ""
Aero..| 9 | 9 | 9 I 9 |+ % 0
Part stock. e In stork, f Part extra. "
recorded In separate line unless sales , '
lot range.
(TO
STOCK EXCHANGE NEWS. %
New AildrrMH.
W. C. Amlereon. a; Auerbach. T'ollnk &
Rlchamon, SO Hr?adway.
Jp*?e b. Itoiikowlti. at Edwin Welftl I Co.. "
15 nrnad at reel.
Chlaholm A Chapman, 52 Broadway.
A. Craves Ely, at Chlaholm A Chapman, ,f
12 Broadway.
Henry H. Oltman, at Chlaholm A Chapman.
52 Broadway.
Harry Bach*. 50 Pine atreet.
Tailor A Co., 522 Fifth avenue.
Richard P. Wnrrall. at Chlaholm -A Chapnun,
52 Broadway. no
? Hi
Branch Offices.
Bryan. Kemp A Co., new, Norfolk, Va.,
B. C. Smith, manager. ml
I,amhorn A Co., new, Cleveland, Ohio, ex
resident partner. oil
Mark C. Stolnber* A Co., nrw, St. l,nuts,
Mo., Hotel Jefferaon, Paul A. Sellers, man ..
?*er. **
Jarnna E. Bennett A Co., Jollet, HI., ilia- 19
continued. tei
Idvlnaston A Co.. Norfolk, Va., 122 TiUe- ?o
well street, discontinued.
I,,ONI>ON MARKKT,
I/INDON, May 13.?Bar silver flrtftd. an 2<
ounce. Bar (told 1)3* 7d. Money IH per cent. Hi
I dscount rates?Short and three months" t>?
Mil* ?% per cent. "?
TOPICS OF WALL STREET. IQ
Merger Madnrmt.
Merger madness is the term applied
the new ill which has stricken Wall
eet. Steel merger madness, perhaps,
>uld be more to the point. Not a contny,
in shares of which Wall Street Is
erested but has been mentioned In
inectlon with some merger or an
ler, and it is not all idle talk. Steel
:n generally have begun to realize that
i safe and sane idea of steel matiu:turlng
is in reduced costs through
Icentration and consolidation. No
ubt many mergers under discussion Sp
ver will take place, possibly because of
s impossibility of coming to terms and gt
jsibly because some of them are disised.
merely for stock market operans.
Nevertheless, there is enough 3E
sis for most of the reports to warrant
sir serious consideration. Among a
>se mentioned yesterday is a consolltlon
of tho Venn Seaboard Steel Cor- 8l
ration with another Independent comriy.
In that case It was declared that
i arrangements have been completed
4 that announcement of the deal lt
ght be expected next week. Another
rger reported around the Street and
en credence is a consolidation of spelty
steel manufacturers, including
uclble, Replogle, Vanadium and Gulf
ttes. or
re
The Bis Steel Merger.
(Vail Street heard yesterday a report m
it the big six company merger plans sc
ght be abandoned, and that in their st
ce would be substituted plana for two to
rgers taking In the six companies, ve
e of those consolidations, lt was (aid, wi
uld be of Midvale and Republic and lit
s other would associate the Ohio Val- sl<
companies, including Youngetown
cot and Tube, Brier Hill, Steel and sii
be Company of America, and Inland, or
Lh possibly smaller units. In tl.at con- ca
;tlon It was pointed out that possibly Is
i steel men were paying more atten- ar
n to the utterances of La Follette In sti
ishlngon than they cared to admit, m
J that a change of that character In ch
lr plans might be made to fend off hi
it sort of opposition to their merger in
le'mes. wl
go
Railroad Consolidations. "r
or
rhe Interstate Commerce Commission ^
expected to resume soon us nujuumcu
uring on railroad consolidations. The ar
st groupings under Professor E. Z. ar
pley's tentative merger plan to be con- ar
ered will be those In the southeastern m
:tlpn of the country. Reports from m
ishington to the effect that the rail- ge
ids would come forward with specific
ommendatlons respecting the plan
re declared to be erroneous here yesday.
In official quarters It was said
it the railroads concerned were merely
jperating In the formulation of plans
developing data bearing on questions *
folved In consideration of any merger. ,
(H
Transcontinental Oil. ,A|
toi
Transcontinental Oil shares were eas- ce
the feature of yesterday's market pa
,de from the steel stocks. Heavy buy- bli
t orders made their appearance In this Ft
>ck at the opening and the demand I th
s practically unchecked right to the ta
so. At its high and last figure of 17, PI
anscontlnental had gained more than 2.<
points on tho day and was selling bli
;her than It had sold In a long, long rr
ie. In fact, It was the first time that re
anscontlnental had been up in its St
5sent position since early In 1920. All te:
*ts of stories regarding the move were op
circulation, the principal one of which pe
is the report of heavy buying for cer- Sc
n Standard OH Interests seeking some ar
the Transcontinental^ properties. No <11
itlrmation of the report could be ob- cp
ned. and in some quarters It was dls>dited
promptly and put down as ne
rely stock market propaganda. m
en
flank Clearing* Gain.
in
Bank clearings In all Important cen- bs
s In the country continued to Increase cr
the 'week ended with yesterday. It so
.8 the eighth successive week In which be
nk clearings had expanded. Clearings fl<
the last six days have Increased 14.5 lei
p cent., compared with those of the cr
responding week of 1321. According lei
the Commercial and financial Chron- PI
i, the figures stand at 17,274,763,505, lei
contrast to $6.354,76S,57>> In the corre- tti
sndlng week of 1921. New York, and a\
n Fr inclsco recorded the largest gains, co
i former reporting an Increase of 21.2 co
p cent, and the latter one of 21.9 per co
it. Boston gained 10.9 percent., Chi- In
jo 7.5 per cent, Detrol* 7.1 per cent, go
d New Orleans 6.9 per cent. ar
T1
o Line to Elect New President.
fo
Tho election of George R. Huntington be
president to succeed Edmund Penning- {{a
n, retired, is expected In the annual
?etlng of the stockholders of the
Innenpolis, St. Paul and Sault Ste.
arie Hallway on May 18. Mr. Hunt- sll
Kton is the Soo's vice-president and th
neral manager. pr
pa
Market Comment. er
"It only the technical side of the bo
irketr that can be crlticezed and this 'a
now In the process of correcting ItIf."?Henry
Clews & Co. "The flood th
rumors In regard to many stocks will or
quire very careful discrimination to
parate the wheat from the chaff.1'?
icncer Trask & Co. "The prospects of Pr
good market In which to make profits
innnr tn hn Imnrnvlno- nlmnot riatlv" 811
renn Bros. & Co. "Sentiment contln- of
:IIy Improving and stocks have passed ce
to strong hands. The clearing foreign * '
nation and many othpr constructive 'a
atures mean higher prices In our opln- ca
n."?Brum ley, Chamberlln ft Co. "The a
adjustment haH proceeded to the point la
icre there should be better support ca
irlng recessions."?Tobey ft Kirk. a
took market developments suggest In
at the present Irregularity may ex- bu
pd somewhat."?J. Frank Howell.
Ve will have only this short Interrup- ln<
>n of the upward trend, during which th
e f .am and bubbles will settle, leaving re
om for the filling of the glass to be to
sumed."?Springs ft Co. "We see no sti
ason to anticipate a period of pro- hli
iged weakness, as the market will. In be
I probability, broaden Its scope consld- to
ably before an extended reaction ma- th
rlallzes,"?Josephthal ft Co. "Of ta
urse there will he temporary recca- ab
ins, but we are still In a big bull
jrket."?W. K. Button A Co. 'We would m
ntlnue to hold to a trading poaritlon 50
itll the speculative outlook becomes er
ire clear."?Prlnco ft Whltely. "It Is co
looaslhle to doubt that the nreseot 11
11 movement hns still a Ion* way to f'l
before It culminates."?W. W. Cohen la
Co. "The market suggests conserva- Ri
im regarding commitments and we ha
vor profit taking on all reeoverlea" hi
Paine, Webber ft- Co. th
th
WISCONSIN CENTRAL SHORT. ,l
sc
eporf for 1f?3l Nhosrs Deficit of "
m
f2,7flfl.R I 4??Snrplns for 1030. |1
The Wisconsin Centra] Railway's lrv
me .account for 1921 reveals a deficit
$2,795,614 after taxes and charges,
ntrasted with a surplus of $827,968 in
e preceding year. Its gross operating
venues for the year aggregated $19.- p
9,939. out of which only $198,035 relined
after deductions for operating {,
penses and adjustments for Joint fa- n,
It/ rents. U
Its total Income from all sources was 0.
69,823, contrasted with $2,891,251 In c?
20. and deductions for rentals, Inrest
and taxes were $3,322,187, against sr
.603,293 In the preceding year. c,
EXPORTS PROM XKW YORK. ()(
Ixports from New York yesterday: Wlieat, ta
,000 bushels; oats. 49,492 bushels; flour, ?
>00 sacks: beef, 50 tons; bacons. 197,300 .
unds: lard, 1,550,913 pounds; lubricating
. DO.iOO gallons fa
iUTPUT OF STEEL
INGOTS INCREASES
ate Jumps From 20,000,000
Tons a Year in December to
35,000,000 in March.
trial Dispatch to Thb N'rw Tonic Haur.D
Pittsburgh, May 13.?Production of
eel ingots rose from a rate of less than
1,000,000 tons a year in December to
i,000,000 tons a year at the end of
arch and the April rate has shown
further substantial increase by proicing
at a 36,000,000 ton rate,
iperflclally, the coal strike has presnted
a continued increase In steel ,
oductlon. Practically, if no coal
rlke had occurred or been in prospect,
is doubtful whether or not steel deand
would have been as heavy in the
st two or three months as it has been.
There is no doubt that the consump
sn of steel has been increasing more
less for months and that the actual
qulrementa of buyers are growing
lere Is a seller's market In steel, and
Ith that condition existing there l.?
ach difference In the degree of conrvatism
exhibited by producers of
eel in quoting prices to regulate cusmers
and occasional buyers. All dl
irgences from regular prices are upard,
whether or not In the form of devry
premiums, there being no conces?
ins from regular prices.
Steel production has been running
nee April X at two-thirds of capacity.
at what may be estimated as full
paclty of 1914. The production rate
a low one relative to present capacity
id a high ono judged by pre-waandarus.
Rarely If ever has the steel
arket, noted for Its kaleidoscopic
anges, given a more remarkable ex
bltion of recuperative power. Man:
the trade are disposed to wonder
Aether or not the condition is not to..
iod to last. It, however. Is an actual
ie, mills being well sold up for two
three monthH at their present proictlorf
rate and urging by buyers to
ke on additional tonnages for prompt
id future shipment. Certain buyen
o offering contracts for third quarter
id even for fourth quarter, leaving th*
Ills to set the prices. Part of th.
arket's strength Is attributable to the
ntiniental influence of the coal strike.
Increase Sheet Operations.
Additions that are advancing prlccf,ve
been made to the sheet mills and,
cause buyers note the upward treno
ey are more anxious about third quar
r needs. At least two more sheet pro
icers now name levels nnnounced on
jrll 19 by u valley steel maker. $7
n more than the April 1 fljures. or 3.50
"1 - * Klar,lr clu.otc 4 KO PPTltR fOV
Ivanlzed sheets, and 2.75 cents fo:
ue annealed sheets, base Pittsburgh
>ur or five others name prices between
ose higher levels and those still malnined
by the American Sheet and Tin
ate Company, which are 3.15, 4.15, anil
10 cents, on black, galvanized ami
uc annealed sheets, respectively. Op
atlons are slightly Increased, due t"
sumption of activity by the Sharon
eel Hoop Company. The leading in
rest Increased last week Its sheet mill
erations to 91 per (lent, and indendents
are not far below that figure
ime tonnnges of blue annealed sheet*
e being booked at 2.40 cents without,
fflculty. A few weeks ago plate mill ,
mpetitlon was keen.
Although there Is not a great deal of
iw business in tin plate to report, all
Ills are well booked ahead, until the
d of June at least, and many plants,
eluding certain units of the leading
terest, are producing on a 100 per cent,
isls. New orders are bound to ln-v
ease, however, as makers will open
on their books for the third quarter
cause on May 15 July tin plate specl atlons
will be due. Apparently the
iding Interest does not expect to inease
Its price and, so far as can b'N
irned, $4.75 a case box of 100 pounds,
ttsburgh, will continue. The Amer*
in Sheet and Tin Plate Company conmes
to operate its tin mills on an
'erage of 80 per cent, and possibly
uld operate more but for the tlgli*
ndltlon as regards sheet bars from Its
natltuent shee bar source. Among
dnnendents business Is reported as
>od, and operations maintained at
ound 70 to 75 per cent, of capacity,
le Yorkvllle tin plate plant of the
heeling Steel Corporation Is operating
urteen of Its twenty-four tin mills,
it will add soon four more to Its active
it.
Baying Hoops and Bands.
The hoop and band mills have had o
are of the slight buying movement
at Is now on In certain finished steel
oducts. The Sharon Steel Hoop Com,ny
Is Increasing its finishing mill opations
In order to roll out accumulated
>oklngs. Producers report orders as
Irly numerous, although none of them
large. They Indicate, however, thaie
market is healthy. The mlntmun\
i hoops and bands Is 2 cents, base
ttsburgh. Certain consumers are afcted
by the coal strike more than the
oducers.
Structural steel fabricators report
iiall awards recently, but only a few
them amount to much In tonnage. Bj
rtaln makers r nominal quotation of
50 cents, base Pittsburgh, is still malnIned,
but 1.60 to 1.70 centa Is a typi
1 spread of to-day's quotations. With
large number of building projects of
rge dimensions In prospect, steel fabrltors
are encouraged by the thought of
boom In steel structural needs and are
aktng preparations to handle Increased
islness. .
Buying of plates is hampered by dlsclination
of makers further to commit
emselves. Many Inquiries received unturned
with the explanation that, du?
the hampering influence of the coai
rlke. It Is preferred not to quote. As
gh as 1.70 cents, base Pittsburgh, has
en quoted on certain Inquiries hut 1.6?
1.70 cents Is more representative of
e market, although a 1.60 cents quotlon
Is retained by a few makers unite
to take tonnage.
There is a deadlock In the steel scrap
nrket, 'dealers generally having askeil
cents to $1 a ton more than consum
s' Ideas. What little activity exists
ntlnues among dealers whp have paid
* for heavy melting stec!. Certain
ttsburg dealers were awarded fairly
rge tonnage* from the Pennsylvania
illroad's central region Hat on thaf
iala. and apparently bida wefe made
gh to permit ahort covering. although
e trade leana toward the opinion that
e acrap bid In at $18 la to be held fo?
rising market. The heavy melting
rap market rernalna quotable at $17 to
7.50. No. 1 cupola caat haa not brought
ore than $18.60 and la quotable up to
9. Not more than $13.50, or poaalbly
4, la being paid for turnings.
BURNS BROS. REPORT.
The conaolldatcd annual report of
urna lima, of New Jersey. Burns Broe
1 New York and William Farrell A Son
ir the year ended with March 31 ahowe
?t earnings available for dlvldenda of
.700,408, Compnrlaona with atatementa
! preceding years cannot be made be
iuse prior to the present report til'
atement. of the Fnrrell company, ab>rbp<l
during tlio last year, was not In
uded.
Net sales were $31,373,520, costs and
sprec.latlon $28,145,617, expenses an-i
xes $1,851,870 and other $324,275
fter payment of dividends on all classe'
stock there was a surplus of 1619,041
r the year (

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